Nationwide

Destination

2025

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

1

Investment

Companies

89

.9

%

Shares

Value

($)

Alternative

Assets

5.6%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

888,612

8,859,460

Total

Alternative

Assets

(cost

$8,547,034)

8,859,460

Equity

Funds

34.4%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

2,245,868

27,175,007

Nationwide

International

Index

Fund,

Class

R6(a)

1,547,307

14,312,586

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

165,697

2,989,169

Nationwide

Small

Cap

Index

Fund,

Class

R6(a)

16,810

216,348

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

801,553

10,067,509

Total

Equity

Funds

(cost

$46,879,211)

54,760,619

Fixed

Income

Funds

49.9%

Nationwide

Bond

Portfolio,

Class

R6(a)

7,992,799

69,217,639

Nationwide

Inflation-Protected

Securities

Fund,

Class

R6(a)

1,125,389

10,162,266

Total

Fixed

Income

Funds

(cost

$85,914,301)

79,379,905

Total

Investment

Companies

(cost

$141,340,546)

142,999,984

Exchange

Traded

Funds

2

.5

%

Shares

Value

($)

Equity

Fund

1.5%

iShares

Core

MSCI

Emerging

Markets

ETF

45,519

2,455,295

Fixed

Income

Fund

1.0%

iShares

20+

Year

Treasury

Bond

ETF

16,656

1,579,155

Total

Exchange

Traded

Funds

(cost

$4,024,457)

4,034,450

Short-Term

Investment

7

.6

%

Money

Market

Fund

7

.6

%

Fidelity

Investments

Money

Market

Government

Portfolio

-

Institutional

Class,

5.26%

(b)

12,113,084

12,113,084

Total

Short-Term

Investment

(cost

$12,113,084)

12,113,084

Total

Investments

(cost

$157,478,087)

—

100.0%

159,147,518

Other

assets

in

excess

of

liabilities

—

0.0%

†

11,631

NET

ASSETS

—

100.0%

$

159,159,149

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

(b)

Represents

7-day

effective

yield

as

of

July

31,

2024.

ETF

Exchange

Traded

Fund

2

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2025

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Destination

2025

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

3

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

4,034,450

$

–

$

–

$

4,034,450

Investment

Companies

142,999,984

–

–

142,999,984

Short-Term

Investment

12,113,084

–

–

12,113,084

Total

$

159,147,518

$

–

$

–

$

159,147,518

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

4

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2030

Fund

Investment

Companies

92

.4

%

Shares

Value

($)

Alternative

Assets

4.0%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

849,631

8,470,817

Total

Alternative

Assets

(cost

$8,321,238)

8,470,817

Equity

Funds

51.1%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

4,288,462

51,890,396

Nationwide

International

Index

Fund,

Class

R6(a)

3,045,092

28,167,100

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

359,676

6,488,550

Nationwide

Small

Cap

Index

Fund,

Class

R6(a)

231,998

2,985,808

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

1,561,755

19,615,643

Total

Equity

Funds

(cost

$93,553,187)

109,147,497

Fixed

Income

Funds

37.3%

Nationwide

Bond

Portfolio,

Class

R6(a)

8,485,340

73,483,046

Nationwide

Inflation-Protected

Securities

Fund,

Class

R6(a)

680,711

6,146,819

Total

Fixed

Income

Funds

(cost

$85,530,194)

79,629,865

Total

Investment

Companies

(cost

$187,404,619)

197,248,179

Exchange

Traded

Funds

3

.3

%

Equity

Fund

2.5%

iShares

Core

MSCI

Emerging

Markets

ETF(b)

100,034

5,395,834

Fixed

Income

Fund

0.8%

iShares

20+

Year

Treasury

Bond

ETF

18,159

1,721,655

Total

Exchange

Traded

Funds

(cost

$6,793,560)

7,117,489

Short-Term

Investment

4

.3

%

Shares

Value

($)

Money

Market

Fund

4

.3

%

Fidelity

Investments

Money

Market

Government

Portfolio

-

Institutional

Class,

5.26%

(c)

9,216,110

9,216,110

Total

Short-Term

Investment

(cost

$9,216,110)

9,216,110

Repurchase

Agreement

0

.1

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$151,223,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$154,247.(d)

151,200

151,200

Total

Repurchase

Agreement

(cost

$151,200)

151,200

Total

Investments

(cost

$203,565,489)

—

100.1%

213,732,978

Liabilities

in

excess

of

other

assets

—

(0.1)%

(

191,329

)

NET

ASSETS

—

100.0%

$

213,541,649

(a)

Investment

in

affiliate.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$151,032,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$151,200.

(c)

Represents

7-day

effective

yield

as

of

July

31,

2024.

(d)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$151,200.

ETF

Exchange

Traded

Fund

Nationwide

Destination

2030

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

5

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

6

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2030

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

7,117,489

$

–

$

–

$

7,117,489

Investment

Companies

197,248,179

–

–

197,248,179

Repurchase

Agreement

–

151,200

–

151,200

Short-Term

Investment

9,216,110

–

–

9,216,110

Total

$

213,581,778

$

151,200

$

–

$

213,732,978

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Destination

2035

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

7

Investment

Companies

93

.8

%

Shares

Value

($)

Alternative

Assets

2.9%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

586,423

5,846,633

Total

Alternative

Assets

(cost

$5,789,325)

5,846,633

Equity

Funds

62.3%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

4,832,574

58,474,143

Nationwide

International

Index

Fund,

Class

R6(a)

3,446,494

31,880,070

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

497,075

8,967,236

Nationwide

Small

Cap

Index

Fund,

Class

R6(a)

424,793

5,467,090

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

1,802,698

22,641,889

Total

Equity

Funds

(cost

$109,695,927)

127,430,428

Fixed

Income

Funds

28.6%

Nationwide

Bond

Portfolio,

Class

R6(a)

6,489,018

56,194,897

Nationwide

Inflation-Protected

Securities

Fund,

Class

R6(a)

270,691

2,444,340

Total

Fixed

Income

Funds

(cost

$61,930,481)

58,639,237

Total

Investment

Companies

(cost

$177,415,733)

191,916,298

Exchange

Traded

Funds

4

.0

%

Shares

Value

($)

Equity

Fund

3.4%

iShares

Core

MSCI

Emerging

Markets

ETF

128,820

6,948,551

Fixed

Income

Fund

0.6%

iShares

20+

Year

Treasury

Bond

ETF

13,459

1,276,048

Total

Exchange

Traded

Funds

(cost

$7,807,911)

8,224,599

Short-Term

Investment

2

.2

%

Money

Market

Fund

2

.2

%

Fidelity

Investments

Money

Market

Government

Portfolio

-

Institutional

Class,

5.27%

(b)

4,568,831

4,568,831

Total

Short-Term

Investment

(cost

$4,568,831)

4,568,831

Total

Investments

(cost

$189,792,475)

—

100.0%

204,709,728

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

52,799

)

NET

ASSETS

—

100.0%

$

204,656,929

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

(b)

Represents

7-day

effective

yield

as

of

July

31,

2024.

ETF

Exchange

Traded

Fund

8

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2035

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Destination

2035

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

9

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

8,224,599

$

–

$

–

$

8,224,599

Investment

Companies

191,916,298

–

–

191,916,298

Short-Term

Investment

4,568,831

–

–

4,568,831

Total

$

204,709,728

$

–

$

–

$

204,709,728

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

10

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2040

Fund

Investment

Companies

94

.4

%

Shares

Value

($)

Alternative

Assets

1.9%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

370,869

3,697,565

Total

Alternative

Assets

(cost

$3,609,686)

3,697,565

Equity

Funds

72.8%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

5,276,655

63,847,526

Nationwide

International

Index

Fund,

Class

R6(a)

3,727,686

34,481,099

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

591,400

10,668,856

Nationwide

Small

Cap

Index

Fund,

Class

R6(a)

419,262

5,395,897

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

1,932,825

24,276,284

Total

Equity

Funds

(cost

$120,196,703)

138,669,662

Fixed

Income

Funds

19.7%

Nationwide

Bond

Portfolio,

Class

R6(a)

4,244,836

36,760,279

Nationwide

Inflation-Protected

Securities

Fund,

Class

R6(a)

78,118

705,404

Total

Fixed

Income

Funds

(cost

$39,167,502)

37,465,683

Total

Investment

Companies

(cost

$162,973,891)

179,832,910

Exchange

Traded

Funds

4

.6

%

Shares

Value

($)

Equity

Fund

4.1%

iShares

Core

MSCI

Emerging

Markets

ETF

144,554

7,797,243

Fixed

Income

Fund

0.5%

iShares

20+

Year

Treasury

Bond

ETF

10,381

984,222

Total

Exchange

Traded

Funds

(cost

$8,205,483)

8,781,465

Short-Term

Investment

1

.0

%

Money

Market

Fund

1

.0

%

Fidelity

Investments

Money

Market

Government

Portfolio

-

Institutional

Class,

5.26%

(b)

1,987,931

1,987,931

Total

Short-Term

Investment

(cost

$1,987,931)

1,987,931

Total

Investments

(cost

$173,167,305)

—

100.0%

190,602,306

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

45,154

)

NET

ASSETS

—

100.0%

$

190,557,152

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

(b)

Represents

7-day

effective

yield

as

of

July

31,

2024.

ETF

Exchange

Traded

Fund

Nationwide

Destination

2040

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

11

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

12

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2040

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

8,781,465

$

–

$

–

$

8,781,465

Investment

Companies

179,832,910

–

–

179,832,910

Short-Term

Investment

1,987,931

–

–

1,987,931

Total

$

190,602,306

$

–

$

–

$

190,602,306

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Destination

2045

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

13

Investment

Companies

94

.6

%

Shares

Value

($)

Alternative

Assets

0.9%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

159,769

1,592,902

Total

Alternative

Assets

(cost

$1,566,059)

1,592,902

Equity

Funds

79.2%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

4,999,196

60,490,271

Nationwide

International

Index

Fund,

Class

R6(a)

3,703,198

34,254,586

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

598,762

10,801,673

Nationwide

Small

Cap

Index

Fund,

Class

R6(a)

379,180

4,880,050

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

1,880,516

23,619,283

Total

Equity

Funds

(cost

$115,909,796)

134,045,863

Fixed

Income

Fund

14.5%

Nationwide

Bond

Portfolio,

Class

R6(a)

2,834,755

24,548,975

Total

Fixed

Income

Funds

(cost

$25,656,288)

24,548,975

Total

Investment

Companies

(cost

$143,132,143)

160,187,740

Exchange

Traded

Funds

4

.9

%

Shares

Value

($)

Equity

Fund

4.4%

iShares

Core

MSCI

Emerging

Markets

ETF

137,578

7,420,957

Fixed

Income

Fund

0.5%

iShares

20+

Year

Treasury

Bond

ETF

9,644

914,348

Total

Exchange

Traded

Funds

(cost

$7,806,354)

8,335,305

Short-Term

Investment

0

.5

%

Money

Market

Fund

0

.5

%

Fidelity

Investments

Money

Market

Government

Portfolio

-

Institutional

Class,

5.26%

(b)

784,698

784,698

Total

Short-Term

Investment

(cost

$784,698)

784,698

Total

Investments

(cost

$151,723,195)

—

100.0%

169,307,743

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

78,194

)

NET

ASSETS

—

100.0%

$

169,229,549

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

(b)

Represents

7-day

effective

yield

as

of

July

31,

2024.

ETF

Exchange

Traded

Fund

14

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2045

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Destination

2045

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

15

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

8,335,305

$

–

$

–

$

8,335,305

Investment

Companies

160,187,740

–

–

160,187,740

Short-Term

Investment

784,698

–

–

784,698

Total

$

169,307,743

$

–

$

–

$

169,307,743

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

16

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2050

Fund

Investment

Companies

94

.8

%

Shares

Value

($)

Alternative

Assets

0.2%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

39,123

390,061

Total

Alternative

Assets

(cost

$378,689)

390,061

Equity

Funds

82.5%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

5,282,845

63,922,425

Nationwide

International

Index

Fund,

Class

R6(a)

3,737,870

34,575,297

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

659,691

11,900,822

Nationwide

Small

Cap

Index

Fund,

Class

R6(a)

396,946

5,108,694

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

1,982,120

24,895,431

Total

Equity

Funds

(cost

$122,429,267)

140,402,669

Fixed

Income

Fund

12.1%

Nationwide

Bond

Portfolio,

Class

R6(a)

2,382,628

20,633,559

Total

Fixed

Income

Funds

(cost

$21,271,445)

20,633,559

Total

Investment

Companies

(cost

$144,079,401)

161,426,289

Exchange

Traded

Funds

5

.2

%

Shares

Value

($)

Equity

Fund

4.6%

iShares

Core

MSCI

Emerging

Markets

ETF

144,995

7,821,031

Fixed

Income

Fund

0.6%

iShares

20+

Year

Treasury

Bond

ETF

10,352

981,473

Total

Exchange

Traded

Funds

(cost

$8,111,198)

8,802,504

Total

Investments

(cost

$152,190,599)

—

100.0%

170,228,793

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

54,929

)

NET

ASSETS

—

100.0%

$

170,173,864

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

ETF

Exchange

Traded

Fund

Nationwide

Destination

2050

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

17

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

18

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2050

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

8,802,504

$

–

$

–

$

8,802,504

Investment

Companies

161,426,289

–

–

161,426,289

Total

$

170,228,793

$

–

$

–

$

170,228,793

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Destination

2055

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

19

Investment

Companies

94

.7

%

Shares

Value

($)

Equity

Funds

84.5%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

3,556,987

43,039,541

Nationwide

International

Index

Fund,

Class

R6(a)

2,672,018

24,716,166

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

466,927

8,423,362

Nationwide

Small

Cap

Index

Fund,

Class

R6(a)

273,110

3,514,927

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

1,354,841

17,016,807

Total

Equity

Funds

(cost

$84,647,508)

96,710,803

Fixed

Income

Fund

10.2%

Nationwide

Bond

Portfolio,

Class

R6(a)

1,345,253

11,649,887

Total

Fixed

Income

Funds

(cost

$11,904,930)

11,649,887

Total

Investment

Companies

(cost

$96,552,438)

108,360,690

Exchange

Traded

Funds

5

.3

%

Shares

Value

($)

Equity

Fund

4.7%

iShares

Core

MSCI

Emerging

Markets

ETF

99,862

5,386,556

Fixed

Income

Fund

0.6%

iShares

20+

Year

Treasury

Bond

ETF

7,051

668,506

Total

Exchange

Traded

Funds

(cost

$5,549,463)

6,055,062

Total

Investments

(cost

$102,101,901)

—

100.0%

114,415,752

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

22,445

)

NET

ASSETS

—

100.0%

$

114,393,307

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

ETF

Exchange

Traded

Fund

20

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2055

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Destination

2055

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

21

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

6,055,062

$

–

$

–

$

6,055,062

Investment

Companies

108,360,690

–

–

108,360,690

Total

$

114,415,752

$

–

$

–

$

114,415,752

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

22

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2060

Fund

Investment

Companies

94

.7

%

Shares

Value

($)

Equity

Funds

85.5%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

1,708,350

20,671,039

Nationwide

International

Index

Fund,

Class

R6(a)

1,274,497

11,789,100

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

234,685

4,233,719

Nationwide

Small

Cap

Index

Fund,

Class

R6(a)

134,265

1,727,996

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

658,714

8,273,445

Total

Equity

Funds

(cost

$41,051,522)

46,695,299

Fixed

Income

Fund

9.2%

Nationwide

Bond

Portfolio,

Class

R6(a)

578,097

5,006,320

Total

Fixed

Income

Funds

(cost

$5,009,165)

5,006,320

Total

Investment

Companies

(cost

$46,060,687)

51,701,619

Exchange

Traded

Funds

5

.3

%

Shares

Value

($)

Equity

Fund

4.8%

iShares

Core

MSCI

Emerging

Markets

ETF

48,761

2,630,168

Fixed

Income

Fund

0.5%

iShares

20+

Year

Treasury

Bond

ETF

2,733

259,116

Total

Exchange

Traded

Funds

(cost

$2,596,482)

2,889,284

Total

Investments

(cost

$48,657,169)

—

100.0%

54,590,903

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

11,886

)

NET

ASSETS

—

100.0%

$

54,579,017

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

ETF

Exchange

Traded

Fund

Nationwide

Destination

2060

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

23

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

24

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2060

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

2,889,284

$

–

$

–

$

2,889,284

Investment

Companies

51,701,619

–

–

51,701,619

Total

$

54,590,903

$

–

$

–

$

54,590,903

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Destination

2065

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

25

Investment

Companies

94

.8

%

Shares

Value

($)

Equity

Funds

86.4%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

283,552

3,430,981

Nationwide

International

Index

Fund,

Class

R6(a)

212,599

1,966,543

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

40,206

725,310

Nationwide

Small

Cap

Index

Fund,

Class

R6(a)

23,018

296,242

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

108,614

1,364,188

Total

Equity

Funds

(cost

$7,008,350)

7,783,264

Fixed

Income

Fund

8.4%

Nationwide

Bond

Portfolio,

Class

R6(a)

87,813

760,465

Total

Fixed

Income

Funds

(cost

$745,168)

760,465

Total

Investment

Companies

(cost

$7,753,518)

8,543,729

Exchange

Traded

Funds

5

.2

%

Shares

Value

($)

Equity

Fund

4.9%

iShares

Core

MSCI

Emerging

Markets

ETF

8,132

438,640

Fixed

Income

Fund

0.3%

iShares

20+

Year

Treasury

Bond

ETF

334

31,667

Total

Exchange

Traded

Funds

(cost

$424,073)

470,307

Total

Investments

(cost

$8,177,591)

—

100.0%

9,014,036

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

1,350

)

NET

ASSETS

—

100.0%

$

9,012,686

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

ETF

Exchange

Traded

Fund

26

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

2065

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Destination

2065

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

27

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

470,307

$

–

$

–

$

470,307

Investment

Companies

8,543,729

–

–

8,543,729

Total

$

9,014,036

$

–

$

–

$

9,014,036

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

28

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

Retirement

Fund

Investment

Companies

89

.4

%

Shares

Value

($)

Alternative

Assets

5.8%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

588,482

5,867,168

Total

Alternative

Assets

(cost

$5,317,466)

5,867,168

Equity

Funds

32.6%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

1,351,620

16,354,599

Nationwide

International

Index

Fund,

Class

R6(a)

934,101

8,640,438

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

101,212

1,825,861

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

479,008

6,016,340

Total

Equity

Funds

(cost

$28,211,221)

32,837,238

Fixed

Income

Funds

51.0%

Nationwide

Bond

Portfolio,

Class

R6(a)

5,149,025

44,590,560

Nationwide

Inflation-Protected

Securities

Fund,

Class

R6(a)

761,421

6,875,630

Total

Fixed

Income

Funds

(cost

$56,231,147)

51,466,190

Total

Investment

Companies

(cost

$89,759,834)

90,170,596

Exchange

Traded

Funds

2

.5

%

Shares

Value

($)

Equity

Fund

1.5%

iShares

Core

MSCI

Emerging

Markets

ETF

28,303

1,526,664

Fixed

Income

Fund

1.0%

iShares

20+

Year

Treasury

Bond

ETF

10,794

1,023,379

Total

Exchange

Traded

Funds

(cost

$2,561,086)

2,550,043

Short-Term

Investment

8

.1

%

Money

Market

Fund

8

.1

%

Fidelity

Investments

Money

Market

Government

Portfolio

-

Institutional

Class,

5.26%

(b)

8,125,519

8,125,519

Total

Short-Term

Investment

(cost

$8,125,519)

8,125,519

Total

Investments

(cost

$100,446,439)

—

100.0%

100,846,158

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

7,974

)

NET

ASSETS

—

100.0%

$

100,838,184

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

(b)

Represents

7-day

effective

yield

as

of

July

31,

2024.

ETF

Exchange

Traded

Fund

Nationwide

Destination

Retirement

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

29

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

30

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Destination

Retirement

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

2,550,043

$

–

$

–

$

2,550,043

Investment

Companies

90,170,596

–

–

90,170,596

Short-Term

Investment

8,125,519

–

–

8,125,519

Total

$

100,846,158

$

–

$

–

$

100,846,158

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Investor

Destinations

Aggressive

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

1

Investment

Companies

92

.1

%

Shares

Value

($)

Equity

Funds

88.1%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

21,513,212

260,309,861

Nationwide

GQG

US

Quality

Equity

Fund,

Class

R6(a)

803,898

13,240,199

Nationwide

International

Index

Fund,

Class

R6(a)

11,560,348

106,933,221

Nationwide

International

Small

Cap

Fund,

Class

R6(a)

2,357,785

24,803,902

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

4,456,715

80,399,134

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

8,555,596

107,458,287

Total

Equity

Funds

(cost

$505,996,973)

593,144,604

Fixed

Income

Funds

4.0%

Nationwide

Bond

Portfolio,

Class

R6(a)

2,354,634

20,391,131

Nationwide

Loomis

Core

Bond

Fund,

Class

R6(a)

710,888

6,767,652

Total

Fixed

Income

Funds

(cost

$27,469,351)

27,158,783

Total

Investment

Companies

(cost

$533,466,324)

620,303,387

Exchange

Traded

Funds

7

.9

%

Shares

Value

($)

Equity

Funds

6.9%

iShares

Core

MSCI

Emerging

Markets

ETF

598,932

32,306,392

iShares

Core

S&P

Small-Cap

ETF

117,499

13,904,832

Total

Equity

Funds

(cost

$43,061,168)

46,211,224

Fixed

Income

Fund

1.0%

iShares

7-10

Year

Treasury

Bond

ETF

70,633

6,785,712

Total

Fixed

Income

Funds

(cost  $6,690,495)

6,785,712

Total

Exchange

Traded

Funds

(cost

$49,751,663)

52,996,936

Total

Investments

(cost

$583,217,987)

—

100.0%

673,300,323

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

248,355

)

NET

ASSETS

—

100.0%

$

673,051,968

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

ETF

Exchange

Traded

Fund

2

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Investor

Destinations

Aggressive

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Investor

Destinations

Aggressive

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

3

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

52,996,936

$

–

$

–

$

52,996,936

Investment

Companies

620,303,387

–

–

620,303,387

Total

$

673,300,323

$

–

$

–

$

673,300,323

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

4

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Investor

Destinations

Conservative

Fund

Investment

Companies

79

.9

%

Shares

Value

($)

Alternative

Assets

1.5%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

448,209

4,468,646

Total

Alternative

Assets

(cost

$4,198,125)

4,468,646

Equity

Funds

18.9%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

2,500,019

30,250,230

Nationwide

International

Index

Fund,

Class

R6(a)

867,932

8,028,371

Nationwide

International

Small

Cap

Fund,

Class

R6(a)

61,789

650,016

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

307,402

5,545,539

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

997,076

12,523,279

Total

Equity

Funds

(cost

$47,692,342)

56,997,435

Fixed

Income

Funds

59.5%

Nationwide

Bond

Portfolio,

Class

R6(a)

12,011,581

104,020,294

Nationwide

Inflation-Protected

Securities

Fund,

Class

R6(a)

1,666,902

15,052,126

Nationwide

Loomis

Core

Bond

Fund,

Class

R6(a)

3,188,770

30,357,090

Nationwide

Loomis

Short

Term

Bond

Fund,

Class

R6(a)

3,049,517

30,281,705

Total

Fixed

Income

Funds

(cost

$188,652,157)

179,711,215

Total

Investment

Companies

(cost

$240,542,624)

241,177,296

Exchange

Traded

Funds

15

.2

%

Equity

Funds

1.1%

iShares

Core

MSCI

Emerging

Markets

ETF

45,626

2,461,067

Exchange

Traded

Funds

Shares

Value

($)

iShares

Core

S&P

Small-Cap

ETF(b)

6,421

759,861

Total

Equity

Funds

(cost

$2,615,106)

3,220,928

Fixed

Income

Funds

14.1%

iShares

20+

Year

Treasury

Bond

ETF

193,345

18,331,039

iShares

7-10

Year

Treasury

Bond

ETF

157,594

15,140,056

iShares

U.S.

Treasury

Bond

ETF(b)

391,463

9,007,564

Total

Fixed

Income

Funds

(cost

$49,549,097)

42,478,659

Total

Exchange

Traded

Funds

(cost

$52,164,203)

45,699,587

Short-Term

Investment

4

.9

%

Money

Market

Fund

4

.9

%

Fidelity

Investments

Money

Market

Government

Portfolio

-

Institutional

Class,

5.26%

(c)

14,792,230

14,792,230

Total

Short-Term

Investment

(cost

$14,792,230)

14,792,230

Total

Investments

(cost

$307,499,057)

—

100.0%

301,669,113

Other

assets

in

excess

of

liabilities

—

0.0%

†

98,524

NET

ASSETS

—

100.0%

$

301,767,637

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$828,773,

which

was

collateralized

by

$851,315

in

the

form

of

U.S

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

4.75%,

and

maturity

dates

ranging

from

8/15/2024

–

11/15/2053.

(c)

Represents

7-day

effective

yield

as

of

July

31,

2024.

ETF

Exchange

Traded

Fund

Nationwide

Investor

Destinations

Conservative

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

5

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

6

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Investor

Destinations

Conservative

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

45,699,587

$

–

$

–

$

45,699,587

Investment

Companies

241,177,296

–

–

241,177,296

Short-Term

Investment

14,792,230

–

–

14,792,230

Total

$

301,669,113

$

–

$

–

$

301,669,113

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Investor

Destinations

Moderate

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

7

Investment

Companies

84

.6

%

Shares

Value

($)

Alternative

Assets

0.8%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

528,853

5,272,660

Total

Alternative

Assets

(cost

$4,930,434)

5,272,660

Equity

Funds

55.0%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

15,818,409

191,402,749

Nationwide

GQG

US

Quality

Equity

Fund,

Class

R6(a)

397,354

6,544,426

Nationwide

International

Index

Fund,

Class

R6(a)

7,360,292

68,082,703

Nationwide

International

Small

Cap

Fund,

Class

R6(a)

942,459

9,914,672

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

1,855,881

33,480,094

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

6,113,590

76,786,695

Total

Equity

Funds

(cost

$331,286,915)

386,211,339

Fixed

Income

Funds

28.8%

Nationwide

Bond

Portfolio,

Class

R6(a)

16,007,201

138,622,357

Nationwide

Inflation-Protected

Securities

Fund,

Class

R6(a)

778,747

7,032,090

Nationwide

Loomis

Core

Bond

Fund,

Class

R6(a)

3,711,102

35,329,689

Nationwide

Loomis

Short

Term

Bond

Fund,

Class

R6(a)

2,128,052

21,131,552

Total

Fixed

Income

Funds

(cost

$210,048,903)

202,115,688

Total

Investment

Companies

(cost

$546,266,252)

593,599,687

Exchange

Traded

Funds

12

.0

%

Equity

Funds

5.0%

iShares

Core

MSCI

Emerging

Markets

ETF

313,887

16,931,065

iShares

Core

S&P

Small-Cap

ETF(b)

151,757

17,958,923

Total

Equity

Funds

(cost

$32,747,370)

34,889,988

Fixed

Income

Funds

7.0%

iShares

20+

Year

Treasury

Bond

ETF

186,956

17,725,298

iShares

7-10

Year

Treasury

Bond

ETF(b)

221,002

21,231,662

iShares

U.S.

Treasury

Bond

ETF

460,159

10,588,259

Total

Fixed

Income

Funds

(cost

$54,936,332)

49,545,219

Total

Exchange

Traded

Funds

(cost

$87,683,702)

84,435,207

Short-Term

Investment

3

.5

%

Shares

Value

($)

Money

Market

Fund

3

.5

%

Fidelity

Investments

Money

Market

Government

Portfolio

-

Institutional

Class,

5.26%

(c)

24,412,698

24,412,698

Total

Short-Term

Investment

(cost

$24,412,698)

24,412,698

Repurchase

Agreement

1

.2

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$8,696,990,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$8,870,932.(d)

8,695,700

8,695,700

Total

Repurchase

Agreement

(cost

$8,695,700)

8,695,700

Total

Investments

(cost

$667,058,352)

—

101.3%

711,143,292

Liabilities

in

excess

of

other

assets

—

(1.3)%

(

9,345,569

)

NET

ASSETS

—

100.0%

$

701,797,723

(a)

Investment

in

affiliate.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$8,561,022,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$8,695,700.

(c)

Represents

7-day

effective

yield

as

of

July

31,

2024.

(d)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$8,695,700.

ETF

Exchange

Traded

Fund

8

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Investor

Destinations

Moderate

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Investor

Destinations

Moderate

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

9

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

84,435,207

$

–

$

–

$

84,435,207

Investment

Companies

593,599,687

–

–

593,599,687

Repurchase

Agreement

–

8,695,700

–

8,695,700

Short-Term

Investment

24,412,698

–

–

24,412,698

Total

$

702,447,592

$

8,695,700

$

–

$

711,143,292

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

10

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Investor

Destinations

Moderately

Aggressive

Fund

Investment

Companies

93

.1

%

Shares

Value

($)

Alternative

Assets

0.8%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

715,636

7,134,895

Total

Alternative

Assets

(cost

$6,622,949)

7,134,895

Equity

Funds

73.6%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

26,611,145

321,994,851

Nationwide

GQG

US

Quality

Equity

Fund,

Class

R6(a)

854,286

14,070,083

Nationwide

International

Index

Fund,

Class

R6(a)

13,172,671

121,847,211

Nationwide

International

Small

Cap

Fund,

Class

R6(a)

2,701,543

28,420,233

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

4,114,254

74,221,149

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

11,005,503

138,229,120

Total

Equity

Funds

(cost

$600,721,951)

698,782,647

Fixed

Income

Funds

18.7%

Nationwide

Bond

Portfolio,

Class

R6(a)

18,307,290

158,541,130

Nationwide

Loomis

Core

Bond

Fund,

Class

R6(a)

2,014,682

19,179,768

Total

Fixed

Income

Funds

(cost

$182,304,439)

177,720,898

Total

Investment

Companies

(cost

$789,649,339)

883,638,440

Exchange

Traded

Funds

6

.9

%

Equity

Funds

6.4%

iShares

Core

MSCI

Emerging

Markets

ETF

774,529

41,778,094

iShares

Core

S&P

Small-Cap

ETF(b)

164,104

19,420,067

Total

Equity

Funds

(cost

$57,417,251)

61,198,161

Fixed

Income

Fund

0.5%

iShares

7-10

Year

Treasury

Bond

ETF(b)

50,040

4,807,343

Total

Fixed

Income

Funds

(cost  $4,760,462)

4,807,343

Total

Exchange

Traded

Funds

(cost

$62,177,713)

66,005,504

Repurchase

Agreements

1

.4

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$8,197,651,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$8,361,606.(c)

8,196,435

8,196,435

ING

Financial

Services

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,742,

collateralized

by

U.S.

Government

Treasury

Securities,

4.38%,

maturing

5/15/2034;

total

market

value

$5,100,001.(c)

5,000,000

5,000,000

Total

Repurchase

Agreements

(cost

$13,196,435)

13,196,435

Total

Investments

(cost

$865,023,487)

—

101.4%

962,840,379

Liabilities

in

excess

of

other

assets

—

(1.4)%

(

13,480,318

)

NET

ASSETS

—

100.0%

$

949,360,061

(a)

Investment

in

affiliate.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$15,728,392,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$13,196,435

and

by

$2,798,361

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

4.75%,

and

maturity

dates

ranging

from

8/15/2024

–

11/15/2053,

a

total

value

of

$15,994,796.

(c)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$13,196,435.

ETF

Exchange

Traded

Fund

Nationwide

Investor

Destinations

Moderately

Aggressive

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

11

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

12

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Investor

Destinations

Moderately

Aggressive

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

66,005,504

$

–

$

–

$

66,005,504

Investment

Companies

883,638,440

–

–

883,638,440

Repurchase

Agreements

–

13,196,435

–

13,196,435

Total

$

949,643,944

$

13,196,435

$

–

$

962,840,379

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Investor

Destinations

Moderately

Conservative

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

13

Investment

Companies

81

.7

%

Shares

Value

($)

Alternative

Assets

0.7%

Nationwide

Amundi

Strategic

Income

Fund,

Class

R6(a)

188,827

1,882,608

Total

Alternative

Assets

(cost

$1,781,523)

1,882,608

Equity

Funds

37.2%

Nationwide

Fundamental

All

Cap

Equity

Portfolio,

Class

R6(a)

3,878,445

46,929,183

Nationwide

International

Index

Fund,

Class

R6(a)

1,733,422

16,034,154

Nationwide

International

Small

Cap

Fund,

Class

R6(a)

143,263

1,507,129

Nationwide

Mid

Cap

Market

Index

Fund,

Class

R6(a)

572,966

10,336,300

Nationwide

U.S.

130/30

Equity

Portfolio,

Class

R6(a)

1,542,822

19,377,848

Total

Equity

Funds

(cost

$79,686,392)

94,184,614

Fixed

Income

Funds

43.8%

Nationwide

Bond

Portfolio,

Class

R6(a)

8,262,995

71,557,534

Nationwide

Inflation-Protected

Securities

Fund,

Class

R6(a)

850,038

7,675,846

Nationwide

Loomis

Core

Bond

Fund,

Class

R6(a)

1,609,709

15,324,427

Nationwide

Loomis

Short

Term

Bond

Fund,

Class

R6(a)

1,668,505

16,568,252

Total

Fixed

Income

Funds

(cost

$116,377,511)

111,126,059

Total

Investment

Companies

(cost

$197,845,426)

207,193,281

Exchange

Traded

Funds

14

.3

%

Equity

Funds

2.9%

iShares

Core

MSCI

Emerging

Markets

ETF

76,204

4,110,444

iShares

Core

S&P

Small-Cap

ETF

27,482

3,252,220

Total

Equity

Funds

(cost

$6,564,672)

7,362,664

Fixed

Income

Funds

11.4%

iShares

20+

Year

Treasury

Bond

ETF

108,270

10,265,079

iShares

7-10

Year

Treasury

Bond

ETF

80,129

7,697,993

Exchange

Traded

Funds

Shares

Value

($)

iShares

U.S.

Treasury

Bond

ETF(b)

474,627

10,921,167

Total

Fixed

Income

Funds

(cost

$31,700,959)

28,884,239

Total

Exchange

Traded

Funds

(cost

$38,265,631)

36,246,903

Short-Term

Investment

4

.0

%

Money

Market

Fund

4

.0

%

Fidelity

Investments

Money

Market

Government

Portfolio

-

Institutional

Class,

5.26%

(c)

10,084,725

10,084,725

Total

Short-Term

Investment

(cost

$10,084,725)

10,084,725

Repurchase

Agreement

0

.0

%

†

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$16,453,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$16,781.(d)

16,450

16,450

Total

Repurchase

Agreement

(cost

$16,450)

16,450

Total

Investments

(cost

$246,212,232)

—

100.0%

253,541,359

Liabilities

in

excess

of

other

assets

—

0.0%

†

(

26,650

)

NET

ASSETS

—

100.0%

$

253,514,709

†

Amount

rounds

to

less

than

0.1%.

(a)

Investment

in

affiliate.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$1,606,098,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$16,450

and

by

$1,633,510

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

4.75%,

and

maturity

dates

ranging

from

8/15/2024

–

11/15/2053,

a

total

value

of

$1,649,960.

(c)

Represents

7-day

effective

yield

as

of

July

31,

2024.

(d)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$16,450.

ETF

Exchange

Traded

Fund

14

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Investor

Destinations

Moderately

Conservative

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Investor

Destinations

Moderately

Conservative

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

15

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Exchange

Traded

Funds

$

36,246,903

$

–

$

–

$

36,246,903

Investment

Companies

207,193,281

–

–

207,193,281

Repurchase

Agreement

–

16,450

–

16,450

Short-Term

Investment

10,084,725

–

–

10,084,725

Total

$

253,524,909

$

16,450

$

–

$

253,541,359

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

1

Asset-Backed

Securities

9.5%

Principal

Amount

($)

Value

($)

Airlines

0.5%

British

Airways

Pass-Through

Trust,

Series

2021-1,

Class

B,

3.90%,

9/15/2031(a)

686,803

640,117

United

Airlines

Pass-Through

Trust,

Series

2020-1,

Class

A,

5.88%,

10/15/2027

855,008

864,775

1,504,892

Banks

0.9%

Capital

One

Multi-Asset

Execution

Trust,

Series

2023-A1,

Class

A,

4.42%,

5/15/2028

1,000,000

994,606

Chase

Issuance

Trust,

Series

2023-A1,

Class

A,

5.16%,

9/15/2028

1,500,000

1,517,474

2,512,080

Consumer

Finance

0.6%

GM

Financial

Automobile

Leasing

Trust,

Series

2024-2,

Class

A3,

5.39%,

7/20/2027

300,000

302,854

Harley-Davidson

Motorcycle

Trust,

Series

2023-A,

Class

A3,

5.05%,

12/15/2027

1,000,000

998,811

Santander

Drive

Auto

Receivables

Trust,

Series

2024-3,

Class

A3,

5.63%,

1/16/2029

500,000

504,352

1,806,017

Credit

Card

0.2%

Discover

Card

Execution

Note

Trust,

Series

2023-A1,

Class

A,

4.31%,

3/15/2028

500,000

495,751

Financial

Services

5.4%

720

East

CLO

V

Ltd.,

Series

2024-2A,

Class

A1,

6.86%,

7/20/2037(a)(b)

1,400,000

1,401,238

AMSR

Trust,

Series

2024-

SFR1,

Class

A,

4.29%,

7/17/2041(a)

1,500,000

1,452,497

Ares

XXXIX

CLO

Ltd.,

Series

2016-39A,

Class

AR3,

6.75%,

7/18/2037(a)(b)

2,250,000

2,257,762

BA

Credit

Card

Trust,

Series

2023-A1,

Class

A1,

4.79%,

5/15/2028

500,000

500,563

Carmax

Select

Receivables

Trust,

Series

2024-A,

Class

A3,

5.40%,

11/15/2028

250,000

252,043

Dllad

LLC

Series

2024-1A,

Class

A2,

5.50%,

8/20/2027(a)

150,000

150,632

Series

2024-1A,

Class

A3,

5.30%,

7/20/2029(a)

200,000

203,632

Exeter

Automobile

Receivables

Trust,

Series

2024-3A,

Class

A3,

5.65%,

12/15/2027

500,000

502,533

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Financial

Services

Magnetite

XVII

Ltd.,

Series

2016-17A,

Class

AR2,

6.78%,

4/20/2037(a)(b)

1,400,000

1,404,780

Marathon

CLO

Ltd.,

Series

2020-15A,

Class

A1R3,

6.78%,

8/15/2037(a)(b)

1,500,000

1,500,637

SBNA

Auto

Lease

Trust,

Series

2024-B,

Class

A3,

5.56%,

11/22/2027(a)

400,000

404,102

Tesla

Auto

Lease

Trust,

Series

2024-A,

Class

A2A,

5.37%,

6/22/2026(a)

500,000

499,704

Tricon

Residential

Trust

Series

2024-SFR2,

Class

A,

4.75%,

6/17/2040(a)

1,000,000

990,445

Series

2024-SFR1,

Class

B,

4.75%,

4/17/2041(a)

300,000

292,259

Westlake

Automobile

Receivables

Trust

Series

2023-4A,

Class

A3,

6.24%,

7/15/2027(a)

500,000

505,314

Series

2023-1A,

Class

A3,

5.21%,

1/18/2028(a)

1,000,000

997,692

Wise

CLO

Ltd.,

Series

2024-2A,

Class

A,

6.76%,

7/15/2037(a)(b)

1,500,000

1,500,223

World

Omni

Select

Auto

Trust,

Series

2024-A,

Class

A3,

4.98%,

2/15/2030

250,000

250,718

15,066,774

Home

Equity

0.0%

†

Park

Place

Securities,

Inc.

Asset-Backed

Pass-

Through

Certificates,

Series

2005-WCH1,

Class

M4,

6.71%,

1/25/2036(b)

119,652

118,221

Other

1.6%

CVS

Pass-Through

Trust,

6.94%,

1/10/2030

1,011,381

1,044,932

FCI

Funding

LLC,

Series

2021-1A,

Class

A,

1.13%,

4/15/2033(a)

40,736

40,643

Golden

Bear

LLC,

Series

2016-1A,

Class

A,

3.75%,

9/20/2047(a)

709,492

642,313

Goodgreen

Series

2019-2A,

Class

A,

2.76%,

4/15/2055(a)

851,154

733,599

Series

2022-1A,

Class

A,

3.84%,

10/15/2056(a)

527,357

462,953

Goodgreen

Trust,

Series

2017-1A,

Class

A,

3.74%,

10/15/2052(a)

81,279

74,579

HERO

Funding

Trust

Series

2015-2A,

Class

A,

3.99%,

9/20/2040(a)

88,402

83,176

Series

2015-1A,

Class

A,

3.84%,

9/21/2040(a)

376,887

354,671

Series

2015-3A,

Class

A,

4.28%,

9/20/2041(a)

351,686

336,374

2

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Fund

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Other

Renew,

Series

2018-1,

Class

A,

3.95%,

9/20/2053(a)

763,899

712,495

4,485,735

Passenger

Airlines

0.3%

United

Airlines

Pass-Through

Trust

Series

2024-1,

Class

AA,

5.45%,

2/15/2037

292,000

297,840

Series

2024-1,

Class

A,

5.88%,

2/15/2037

500,000

505,650

803,490

Total

Asset-Backed

Securities

(cost

$27,154,081)

26,792,960

Collateralized

Mortgage

Obligations

1.9%

Alternative

Loan

Trust,

Series

2007-2CB,

Class

2A14,

5.75%,

3/25/2037

174,402

88,861

American

Home

Mortgage

Investment

Trust,

Series

2004-3,

Class

6A1,

5.32%,

10/25/2034(c)

1,678

1,633

Angel

Oak

Mortgage

Trust,

Series

2020-1,

Class

A1,

2.47%,

12/25/2059(a)(b)

232,950

221,438

AREIT

Trust,

Series

2022-

CRE6,

Class

A,

6.59%,

1/20/2037(a)(b)

471,505

468,590

Chase

Mortgage

Finance

Corp.,

Series

2016-

SH2,

Class

M2,

3.73%,

12/25/2045(a)(b)

2,257,401

2,058,499

CHL

Mortgage

Pass-Through

Trust,

Series

2005-15,

Class

A7,

5.50%,

8/25/2035

36,622

19,839

Citigroup

Mortgage

Loan

Trust,

Series

2015-

RP2,

Class

A1,

3.50%,

1/25/2053(a)(b)

119,917

114,449

Citigroup

Mortgage

Loan

Trust,

Inc.,

Series

2018-

RP1,

Class

A1,

3.00%,

9/25/2064(a)(b)

102,484

99,396

MASTR

Alternative

Loan

Trust,

Series

2005-6,

Class

1A5,

5.50%,

12/25/2035

113,244

75,097

NYMT

Loan

Trust

Series

2022-CP1,

Class

A2,

3.01%,

7/25/2061(a)

688,000

595,693

Series

2022-CP1,

Class

M1,

3.21%,

7/25/2061(a)

688,000

584,077

Series

2022-CP1,

Class

M2,

3.51%,

7/25/2061(a)

465,000

392,169

Sequoia

Mortgage

Trust,

Series

2017-CH1,

Class

A2,

3.50%,

8/25/2047(a)(b)

22,342

20,554

Collateralized

Mortgage

Obligations

Principal

Amount

($)

Value

($)

Verus

Securitization

Trust

Series

2022-3,

Class

A2,

4.13%,

2/25/2067(a)(b)

341,015

320,547

Series

2022-3,

Class

A1,

4.13%,

2/25/2067(a)(c)

256,131

242,504

Visio

Trust,

Series

2019-

2,

Class

A2,

2.92%,

11/25/2054(a)(b)

130,981

126,048

Total

Collateralized

Mortgage

Obligations

(cost

$6,096,601)

5,429,394

Commercial

Mortgage-Backed

Securities

2.8%

Aventura

Mall

Trust,

Series

2018-AVM,

Class

A,

4.11%,

7/5/2040(a)(b)

700,000

670,635

BBCMS

Mortgage

Trust,

Series

2016-ETC,

Class

C,

3.39%,

8/14/2036(a)

6,300,000

5,581,958

BXP

Trust,

Series

2017-

GM,

Class

B,

3.42%,

6/13/2039(a)(b)

1,300,000

1,214,655

Natixis

Commercial

Mortgage

Securities

Trust,

Series

2019-LVL,

Class

A,

3.89%,

8/15/2038(a)

400,000

369,243

Total

Commercial

Mortgage-Backed

Securities

(cost

$8,936,084)

7,836,491

Corporate

Bonds

33.7%

Aerospace

&

Defense

1.0%

Boeing

Co.

(The)

,

2.95%,

2/1/2030

550,000

483,662

3.25%,

2/1/2035(d)

500,000

396,843

5.81%,

5/1/2050(d)

100,000

93,186

GE

Capital

Funding

LLC

,

4.55%,

5/15/2032

322,000

314,366

Lockheed

Martin

Corp.

,

4.07%,

12/15/2042

150,000

130,296

RTX

Corp.

,

4.13%,

11/16/2028

1,150,000

1,125,983

5.15%,

2/27/2033

150,000

152,130

2,696,466

Automobiles

0.3%

Hyundai

Capital

America

,

2.38%,

10/15/2027(a)

385,000

356,220

1.80%,

1/10/2028(a)

140,000

126,209

6.38%,

4/8/2030(a)

460,000

489,339

971,768

Banks

5.7%

Bank

of

America

Corp.

,

(SOFR

+

1.33%),

3.38%,

4/2/2026(e)

1,000,000

986,618

(CME

Term

SOFR

3

Month

+

1.47%),

3.97%,

2/7/2030(e)

990,000

953,464

Nationwide

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

3

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

Bank

of

America

Corp.,

(SOFR

+

1.84%),

5.87%,

9/15/2034(e)

400,000

419,775

Bank

of

Montreal

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.40%),

3.09%,

1/10/2037(e)

1,250,000

1,046,760

BPCE

SA

,

4.50%,

3/15/2025(a)

1,100,000

1,089,837

(SOFR

+

1.52%),

1.65%,

10/6/2026(a)(e)

250,000

239,164

(SOFR

+

1.73%),

3.12%,

10/19/2032(a)(d)(e)

775,000

648,901

Citigroup,

Inc.

,

(SOFR

+

1.53%),

3.29%,

3/17/2026(e)

775,000

764,262

(SOFR

+

1.94%),

3.79%,

3/17/2033(e)

450,000

410,311

Citizens

Financial

Group,

Inc.

,

(SOFR

+

2.33%),

6.65%,

4/25/2035(d)(e)

650,000

692,626

Commonwealth

Bank

of

Australia

,

3.78%,

3/14/2032(a)

550,000

493,931

Fifth

Third

Bank

NA

,

(United

States

SOFR

Compounded

Index

+

1.23%),

5.85%,

10/27/2025(e)

450,000

450,162

Huntington

National

Bank

(The)

,

5.65%,

1/10/2030

1,000,000

1,023,545

JPMorgan

Chase

&

Co.

,

(SOFR

+

1.85%),

2.08%,

4/22/2026(e)

775,000

757,137

(SOFR

+

2.08%),

4.91%,

7/25/2033(e)

375,000

371,486

(SOFR

+

2.58%),

5.72%,

9/14/2033(d)(e)

425,000

440,185

(SOFR

+

1.46%),

5.29%,

7/22/2035(e)

500,000

507,017

PNC

Financial

Services

Group,

Inc.

(The)

,

(SOFR

+

1.93%),

5.07%,

1/24/2034(d)(e)

490,000

484,748

Truist

Financial

Corp.

,

(SOFR

+

2.24%),

4.92%,

7/28/2033(e)

300,000

284,576

(SOFR

+

1.85%),

5.12%,

1/26/2034(e)

750,000

735,741

US

Bancorp

,

(SOFR

+

1.88%),

6.79%,

10/26/2027(d)(e)

450,000

467,286

(SOFR

+

1.86%),

5.68%,

1/23/2035(e)

200,000

205,430

Wells

Fargo

&

Co.

,

(CME

Term

SOFR

3

Month

+

1.09%),

2.41%,

10/30/2025(e)

170,000

168,681

3.00%,

4/22/2026(d)

700,000

678,429

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

Wells

Fargo

&

Co.,

(SOFR

+

1.50%),

3.35%,

3/2/2033(e)

750,000

665,135

Westpac

Banking

Corp.

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.53%),

3.02%,

11/18/2036(e)

1,250,000

1,054,409

16,039,616

Beverages

0.3%

Anheuser-Busch

Cos.

LLC

,

4.90%,

2/1/2046

630,000

596,430

Bacardi

Ltd.

,

5.90%,

6/15/2043(a)

150,000

149,687

5.30%,

5/15/2048(a)

160,000

147,425

893,542

Biotechnology

0.7%

Amgen,

Inc.

,

4.05%,

8/18/2029(d)

325,000

316,171

5.65%,

3/2/2053

435,000

438,314

CSL

Finance

plc

,

4.25%,

4/27/2032(a)(d)

1,125,000

1,081,638

1,836,123

Broadline

Retail

0.3%

Amazon.com,

Inc.

,

4.70%,

12/1/2032(d)

825,000

835,414

Building

Products

0.1%

Owens

Corning

,

5.95%,

6/15/2054

281,000

288,962

Capital

Markets

3.1%

Brookfield

Finance,

Inc.

,

4.35%,

4/15/2030(d)

600,000

582,993

FMR

LLC

,

4.95%,

2/1/2033(a)

925,000

922,620

Goldman

Sachs

Group,

Inc.

(The)

,

3.50%,

4/1/2025

100,000

98,751

(SOFR

+

0.80%),

1.43%,

3/9/2027(e)

750,000

707,254

(SOFR

+

0.82%),

1.54%,

9/10/2027(d)(e)

150,000

139,585

Morgan

Stanley

,

(SOFR

+

2.62%),

5.30%,

4/20/2037(d)(e)

600,000

588,645

Nuveen

Finance

LLC

,

4.13%,

11/1/2024(a)

1,555,000

1,548,820

Nuveen

LLC

,

5.85%,

4/15/2034(a)

665,000

684,664

S&P

Global,

Inc.

,

2.90%,

3/1/2032(d)

400,000

353,377

UBS

Group

AG

,

4.13%,

9/24/2025(a)

1,000,000

986,971

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.75%),

4.75%,

5/12/2028(a)(e)

2,000,000

1,985,014

8,598,694

4

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Chemicals

0.4%

Cytec

Industries,

Inc.

,

3.95%,

5/1/2025

600,000

592,449

Solvay

Finance

America

LLC

,

5.85%,

6/4/2034(a)

600,000

615,542

1,207,991

Communications

Equipment

0.3%

Motorola

Solutions,

Inc.

,

5.40%,

4/15/2034

735,000

748,085

Consumer

Finance

0.6%

Ford

Motor

Credit

Co.

LLC

,

2.30%,

2/10/2025

1,850,000

1,815,568

Consumer

Staples

Distribution

&

Retail

0.5%

CVS

Pass-Through

Trust

,

7.51%,

1/10/2032(a)

514,934

542,245

Walmart,

Inc.

,

4.15%,

9/9/2032(d)

575,000

568,889

4.50%,

4/15/2053

200,000

182,877

1,294,011

Containers

&

Packaging

0.4%

Amcor

Group

Finance

plc

,

5.45%,

5/23/2029

1,000,000

1,019,657

Diversified

REITs

0.1%

VICI

Properties

LP

,

4.63%,

6/15/2025(a)

250,000

247,514

Diversified

Telecommunication

Services

0.5%

AT&T,

Inc.

,

2.55%,

12/1/2033

174,000

142,294

3.65%,

6/1/2051

695,000

504,121

Verizon

Communications,

Inc.

,

2.55%,

3/21/2031

974,000

843,821

1,490,236

Electric

Utilities

5.3%

Alliant

Energy

Finance

LLC

,

4.25%,

6/15/2028(a)

2,000,000

1,944,460

American

Electric

Power

Co.,

Inc.

,

5.70%,

8/15/2025

750,000

752,782

Appalachian

Power

Co.

,

Series

BB,

4.50%,

8/1/2032

225,000

213,235

Series

Z,

3.70%,

5/1/2050

390,000

279,771

DTE

Electric

Co.

,

5.20%,

4/1/2033

825,000

842,489

Duke

Energy

Ohio,

Inc.

,

5.25%,

4/1/2033

865,000

883,061

Entergy

Arkansas

LLC

,

5.45%,

6/1/2034

935,000

965,477

Evergy

Kansas

Central,

Inc.

,

5.90%,

11/15/2033

500,000

527,449

Evergy,

Inc.

,

2.90%,

9/15/2029

1,020,000

930,380

Fells

Point

Funding

Trust

,

3.05%,

1/31/2027(a)(d)

2,625,000

2,501,536

FirstEnergy

Pennsylvania

Electric

Co.

,

4.30%,

1/15/2029(a)

1,000,000

980,054

Georgia

Power

Co.

,

4.70%,

5/15/2032(d)

1,250,000

1,237,448

Corporate

Bonds

Principal

Amount

($)

Value

($)

Electric

Utilities

Indiana

Michigan

Power

Co.

,

3.85%,

5/15/2028

250,000

241,875

Jersey

Central

Power

&

Light

Co.

,

2.75%,

3/1/2032(a)

170,000

144,478

Kentucky

Utilities

Co.

,

Series

KENT,

5.45%,

4/15/2033(d)

325,000

335,592

NextEra

Energy

Capital

Holdings,

Inc.

,

6.05%,

3/1/2025

160,000

160,660

Pacific

Gas

and

Electric

Co.

,

2.50%,

2/1/2031

145,000

122,842

PPL

Capital

Funding,

Inc.

,

4.13%,

4/15/2030

15,000

14,426

Southern

California

Edison

Co.

,

5.85%,

11/1/2027(d)

400,000

412,828

Southern

Co.

(The)

,

4.40%,

7/1/2046

200,000

172,204

Vistra

Operations

Co.

LLC

,

5.50%,

9/1/2026(a)

200,000

198,191

5.00%,

7/31/2027(a)(d)

85,000

83,227

4.30%,

7/15/2029(a)

1,000,000

960,464

14,904,929

Electronic

Equipment,

Instruments

&

Components

0.2%

Allegion

US

Holding

Co.,

Inc.

,

5.60%,

5/29/2034

600,000

614,477

Entertainment

0.2%

Warnermedia

Holdings,

Inc.

,

4.28%,

3/15/2032(d)

500,000

433,724

Financial

Services

0.1%

Global

Payments,

Inc.

,

2.65%,

2/15/2025

250,000

246,173

Food

Products

1.0%

Cargill,

Inc.

,

5.13%,

10/11/2032(a)

775,000

788,642

4.38%,

4/22/2052(a)

115,000

99,870

Conagra

Brands,

Inc.

,

5.30%,

11/1/2038(d)

400,000

389,589

J

M

Smucker

Co.

(The)

,

6.50%,

11/15/2043

750,000

811,647

JBS

USA

Holding

Lux

Sarl

,

3.63%,

1/15/2032(d)

111,000

97,001

5.75%,

4/1/2033

610,000

612,892

2,799,641

Ground

Transportation

0.7%

Ashtead

Capital,

Inc.

,

4.00%,

5/1/2028(a)

1,600,000

1,534,791

ERAC

USA

Finance

LLC

,

5.40%,

5/1/2053(a)(d)

415,000

411,508

1,946,299

Health

Care

Equipment

&

Supplies

0.4%

GE

HealthCare

Technologies,

Inc.

,

5.86%,

3/15/2030

1,000,000

1,048,678

Nationwide

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

5

Corporate

Bonds

Principal

Amount

($)

Value

($)

Health

Care

Providers

&

Services

0.4%

CVS

Health

Corp.

,

5.00%,

2/20/2026

1,000,000

999,858

HCA,

Inc.

,

5.25%,

4/15/2025

250,000

249,527

1,249,385

Health

Care

REITs

0.4%

Alexandria

Real

Estate

Equities,

Inc.

,

3.45%,

4/30/2025(d)

237,000

233,698

Healthpeak

OP

LLC

,

3.25%,

7/15/2026

175,000

169,544

Ventas

Realty

LP

,

5.63%,

7/1/2034(d)

600,000

614,194

Welltower

OP

LLC

,

4.00%,

6/1/2025

175,000

172,943

1,190,379

Household

Durables

0.2%

Newell

Brands,

Inc.

,

4.88%,

6/1/2025

450,000

447,582

Independent

Power

and

Renewable

Electricity

Producers

0.2%

Alexander

Funding

Trust

II

,

7.47%,

7/31/2028(a)(d)

280,000

299,552

Calpine

Corp.

,

5.25%,

6/1/2026(a)

200,000

198,525

4.50%,

2/15/2028(a)

85,000

81,425

579,502

Industrial

REITs

0.3%

LXP

Industrial

Trust

,

6.75%,

11/15/2028

900,000

946,266

Insurance

1.3%

Brighthouse

Financial

Global

Funding

,

5.65%,

6/10/2029(a)(d)

700,000

713,083

Five

Corners

Funding

Trust

IV

,

6.00%,

2/15/2053(a)

190,000

198,668

MassMutual

Global

Funding

II

,

5.15%,

5/30/2029(a)

750,000

766,072

New

York

Life

Global

Funding

,

4.55%,

1/28/2033(a)

750,000

733,576

Pine

Street

Trust

III

,

6.22%,

5/15/2054(a)

405,000

416,277

Sammons

Financial

Group,

Inc.

,

6.88%,

4/15/2034(a)

675,000

701,717

3,529,393

IT

Services

0.3%

International

Business

Machines

Corp.

,

4.40%,

7/27/2032

850,000

829,836

Machinery

0.1%

Daimler

Truck

Finance

North

America

LLC

,

3.50%,

4/7/2025(a)

250,000

246,795

Corporate

Bonds

Principal

Amount

($)

Value

($)

Media

0.2%

Charter

Communications

Operating

LLC

,

5.75%,

4/1/2048

400,000

345,581

Comcast

Corp.

,

2.94%,

11/1/2056

208,000

129,396

474,977

Multi-Utilities

0.3%

Black

Hills

Corp.

,

3.05%,

10/15/2029

675,000

614,444

Southern

Co.

Gas

Capital

Corp.

,

3.88%,

11/15/2025

275,000

270,626

885,070

Oil,

Gas

&

Consumable

Fuels

3.6%

Aker

BP

ASA

,

2.00%,

7/15/2026(a)

1,200,000

1,131,381

Boardwalk

Pipelines

LP

,

5.95%,

6/1/2026

263,000

266,128

BP

Capital

Markets

America,

Inc.

,

5.23%,

11/17/2034

825,000

838,854

Chesapeake

Energy

Corp.

,

5.50%,

2/1/2026(a)

150,000

149,143

Continental

Resources,

Inc.

,

4.38%,

1/15/2028(d)

215,000

209,767

5.75%,

1/15/2031(a)

350,000

352,239

2.88%,

4/1/2032(a)(d)

161,000

133,647

Energy

Transfer

LP

,

5.75%,

4/1/2025

500,000

499,353

4.75%,

1/15/2026

500,000

497,982

5.50%,

6/1/2027

1,000,000

1,014,783

6.50%,

2/1/2042

350,000

371,294

5.95%,

5/15/2054

200,000

197,497

MPLX

LP

,

1.75%,

3/1/2026

696,000

661,523

NGPL

PipeCo

LLC

,

3.25%,

7/15/2031(a)

650,000

567,874

Occidental

Petroleum

Corp.

,

5.88%,

9/1/2025

875,000

878,557

5.50%,

12/1/2025

250,000

250,455

6.60%,

3/15/2046

245,000

260,937

6.05%,

10/1/2054(d)

200,000

201,073

ONEOK,

Inc.

,

5.85%,

1/15/2026

458,000

462,692

Var

Energi

ASA

,

5.00%,

5/18/2027(a)

1,092,245

1,081,688

10,026,867

Passenger

Airlines

0.1%

Air

Canada

,

3.88%,

8/15/2026(a)

420,000

403,972

Pharmaceuticals

0.7%

Bayer

US

Finance

LLC

,

6.25%,

1/21/2029(a)

350,000

363,955

Merck

&

Co.,

Inc.

,

6.55%,

9/15/2037

665,000

763,046

6

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Pharmaceuticals

Pfizer

Investment

Enterprises

Pte.

Ltd.

,

4.75%,

5/19/2033

825,000

822,350

1,949,351

Residential

REITs

0.6%

American

Homes

4

Rent

LP

,

3.63%,

4/15/2032(d)

500,000

448,370

5.50%,

2/1/2034

233,000

234,524

Sun

Communities

Operating

LP

,

2.30%,

11/1/2028

1,131,000

1,011,353

1,694,247

Retail

REITs

0.2%

Kite

Realty

Group

LP

,

5.50%,

3/1/2034

100,000

100,395

Kite

Realty

Group

Trust

,

4.75%,

9/15/2030

549,000

538,121

638,516

Semiconductors

&

Semiconductor

Equipment

0.5%

Broadcom,

Inc.

,

3.42%,

4/15/2033(a)

400,000

353,145

Foundry

JV

Holdco

LLC

,

5.88%,

1/25/2034(a)(d)

660,000

673,615

6.25%,

1/25/2035(a)(d)

500,000

525,580

1,552,340

Software

0.2%

Microsoft

Corp.

,

2.92%,

3/17/2052

200,000

140,479

Oracle

Corp.

,

3.60%,

4/1/2040

700,000

553,940

694,419

Specialized

REITs

0.5%

American

Tower

Corp.

,

2.95%,

1/15/2025

250,000

246,905

Crown

Castle,

Inc.

,

4.45%,

2/15/2026

70,000

69,328

3.70%,

6/15/2026

630,000

614,539

CubeSmart

LP

,

4.00%,

11/15/2025

126,000

124,051

3.13%,

9/1/2026(d)

450,000

433,040

1,487,863

Specialty

Retail

0.1%

AutoZone,

Inc.

,

4.75%,

8/1/2032

345,000

339,052

Technology

Hardware,

Storage

&

Peripherals

0.4%

Apple,

Inc.

,

3.35%,

8/8/2032

825,000

765,349

Hewlett

Packard

Enterprise

Co.

,

5.90%,

10/1/2024

250,000

250,031

1,015,380

Tobacco

0.7%

BAT

Capital

Corp.

,

3.46%,

9/6/2029(d)

1,010,000

941,307

6.34%,

8/2/2030

225,000

239,490

Corporate

Bonds

Principal

Amount

($)

Value

($)

Tobacco

BAT

Capital

Corp.,

6.42%,

8/2/2033

150,000

160,935

Philip

Morris

International,

Inc.

,

5.75%,

11/17/2032

200,000

209,287

5.38%,

2/15/2033(d)

250,000

254,988

4.25%,

11/10/2044(d)

150,000

125,733

1,931,740

Trading

Companies

&

Distributors

0.1%

GATX

Corp.

,

6.05%,

6/5/2054

168,000

173,058

Wireless

Telecommunication

Services

0.1%

T-Mobile

USA,

Inc.

,

3.30%,

2/15/2051

500,000

347,129

Total

Corporate

Bonds

(cost

$97,247,062)

94,610,687

Mortgage-Backed

Securities

26.6%

FHLMC

UMBS

Pool

Pool#

SB0861

2.50%,

2/1/2037

1,962,924

1,808,931

Pool#

SB8203

3.50%,

1/1/2038

1,305,869

1,255,348

Pool#

SB8260

5.00%,

10/1/2038

2,583,174

2,589,082

Pool#

SD8178

2.50%,

11/1/2051

4,728,952

4,001,520

Pool#

QE0799

2.50%,

4/1/2052

7,908,510

6,681,382

Pool#

SD2254

3.50%,

7/1/2052

918,546

836,760

Pool#

SD8255

3.50%,

10/1/2052

914,698

829,874

Pool#

SD8288

5.00%,

1/1/2053

3,664,200

3,612,279

Pool#

SD8302

6.50%,

2/1/2053

400,585

411,796

Pool#

SD8309

6.00%,

3/1/2053

437,214

443,898

Pool#

SD2921

4.50%,

5/1/2053

492,715

474,902

FNMA

UMBS

Pool

Pool#

CA4488

2.50%,

7/1/2034

1,027,821

946,591

Pool#

FM1776

3.00%,

10/1/2034

311,994

296,414

Pool#

FS1360

3.00%,

4/1/2037

1,073,337

1,008,995

Pool#

BC0180

4.00%,

1/1/2046

640,142

613,350

Pool#

BC9003

3.00%,

11/1/2046

93,104

83,331

Pool#

AS8483

3.00%,

12/1/2046

73,733

65,731

Pool#

MA2863

3.00%,

1/1/2047

400,774

359,005

Pool#

BM2003

4.00%,

10/1/2047

384,504

368,407

Nationwide

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

7

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

CA2208

4.50%,

8/1/2048

1,249,583

1,216,437

Pool#

CA2469

4.00%,

10/1/2048

92,874

88,937

Pool#

BN0906

4.00%,

11/1/2048

953,767

913,234

Pool#

CA3866

3.50%,

7/1/2049

1,687,629

1,549,516

Pool#

BP5783

3.00%,

5/1/2050

4,648,924

4,132,558

Pool#

MA4210

2.50%,

12/1/2050

881,631

748,843

Pool#

FS2041

2.00%,

8/1/2051

7,083,780

5,710,536

Pool#

MA4491

1.50%,

12/1/2051

1,321,634

1,015,246

Pool#

FS2122

3.00%,

3/1/2052

1,284,614

1,126,269

Pool#

MA4577

2.00%,

4/1/2052

9,426,509

7,587,311

Pool#

BU8944

3.00%,

4/1/2052

4,435,135

3,877,197

Pool#

MA4732

4.00%,

9/1/2052

6,777,510

6,357,325

Pool#

MA4733

4.50%,

9/1/2052

1,772,984

1,708,925

Pool#

MA4782

3.50%,

10/1/2052

4,614,980

4,187,297

Pool#

MA4805

4.50%,

11/1/2052

1,447,566

1,394,836

Pool#

MA4980

6.00%,

4/1/2053

653,668

663,408

Pool#

DA1019

6.50%,

9/1/2053

192,398

197,986

GNMA

II

Pool

Pool#

MA8099

3.50%,

6/20/2052

1,598,020

1,468,724

Pool#

MA8429

5.50%,

11/20/2052

689,487

693,153

Pool#

MA8647

5.00%,

2/20/2053

457,788

453,485

Pool#

MA8726

5.50%,

3/20/2053

2,197,309

2,204,264

Pool#

MA8727

6.00%,

3/20/2053

568,376

578,501

Total

Mortgage-Backed

Securities

(cost

$81,298,528)

74,561,584

Municipal

Bonds

0.5%

California

0.2

%

Northern

California

Power

Agency,

RB,

Series

B,

7.31%,

6/1/2040

500,000

575,881

Municipal

Bonds

Principal

Amount

($)

Value

($)

District

of

Columbia

0.3

%

Metropolitan

Washington

Airports

Authority,

RB,

Series

D,

7.46%,

10/1/2046

600,000

741,995

Total

Municipal

Bonds

(cost

$1,306,063)

1,317,876

U.S.

Government

Agency

Security

1.6%

FHLB,

4.75%,

3/10/2034

4,400,000

4,526,926

Total

U.S.

Government

Agency

Security

(cost

$4,425,462)

4,526,926

U.S.

Treasury

Obligations

21.9%

U.S.

Treasury

Bonds

2.00%,

11/15/2041

16,000,000

11,376,875

2.38%,

2/15/2042

6,000,000

4,519,922

3.25%,

5/15/2042

3,500,000

3,003,711

3.88%,

2/15/2043

1,000,000

932,148

2.25%,

8/15/2046

2,100,000

1,448,344

2.25%,

2/15/2052

9,500,000

6,258,867

2.88%,

5/15/2052

1,750,000

1,325,352

U.S.

Treasury

Notes

4.25%,

12/31/2024

(d)

3,300,000

3,287,986

4.13%,

1/31/2025

(d)

2,000,000

1,990,360

2.88%,

6/15/2025

1,000,000

983,438

3.00%,

7/15/2025

6,000,000

5,903,379

2.63%,

1/31/2026

(f)

4,000,000

3,893,594

4.00%,

2/15/2026

3,000,000

2,979,492

2.25%,

2/15/2027

1,000,000

954,961

0.50%,

4/30/2027

2,000,000

1,814,766

2.38%,

5/15/2027

2,000,000

1,909,609

3.25%,

6/30/2027

2,000,000

1,955,781

4.13%,

9/30/2027

1,000,000

1,002,617

3.88%,

12/31/2027

900,000

895,957

3.50%,

1/31/2028

600,000

589,945

1.25%,

3/31/2028

1,000,000

906,680

3.63%,

5/31/2028

700,000

691,031

2.75%,

5/31/2029

2,000,000

1,895,000

3.25%,

6/30/2029

1,000,000

968,984

Total

U.S.

Treasury

Obligations

(cost

$66,645,993)

61,488,799

Repurchase

Agreements

2.2%

CF

Secured,

LLC

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$4,175,269,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$4,258,775.

(g)

4,174,649

4,174,649

8

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Fund

Repurchase

Agreements

Principal

Amount

($)

Value

($)

HSBC

Securities,

Inc.

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,000,296,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$2,040,301.

(g)

2,000,000

2

,000,000

Total

Repurchase

Agreements

(cost

$6,174,649)

6,174,649

Total

Investments

(cost

$299,284,523)

—

100.7%

282,739,366

Liabilities

in

excess

of

other

assets

—

(0.7)%

(2,054,926)

NET

ASSETS

—

100.0%

$

280,684,440

†

Amount

rounds

to

less

than

0.1%.

(a)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$62,817,183

which

represents

22.38%

of

net

assets.

(b)

Variable

or

floating

rate

security,

the

interest

rate

of

which

adjusts

periodically

based

on

changes

in

current

interest

rates

and

prepayments

on

the

underlying

pool

of

assets.  The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(c)

Step

Bond.

Coupon

rate

is

set

for

an

initial

period

and

then

increases

to

a

higher

coupon

rate

at

a

specific

date.

The

rate

shown

is

the

rate

as

of

July

31,

2024.

(d)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$11,983,249,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$6,174,649

and

by

$6,122,352

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

5.35%,

and

maturity

dates

ranging

from

8/8/2024

–

11/15/2053,

a

total

value

of

$12,297,001.

(e)

Variable

or

floating

rate

security,

linked

to

the

referenced

benchmark.

The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(f)

Security

or

a

portion

of

the

security

was

used

to

cover

the

margin

requirement

for

futures

contracts.

(g)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$6,174,649.

CLO

Collateralized

Loan

Obligations

FHLB

Federal

Home

Loan

Bank

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

GNMA

Government

National

Mortgage

Association

RB

Revenue

Bond

REIT

Real

Estate

Investment

Trust

SOFR

Secured

Overnight

Financing

Rate

UMBS

Uniform

Mortgage-Backed

Securities

Currency:

USD

United

States

Dollar

Nationwide

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

9

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

U.S.

Treasury

2

Year

Note

334

9/2024

USD

68,592,641

488,189

U.S.

Treasury

5

Year

Note

65

9/2024

USD

7,012,891

135,938

U.S.

Treasury

10

Year

Note

27

9/2024

USD

3,018,937

4,279

U.S.

Treasury

Ultra

Bond

35

9/2024

USD

4,478,906

154,135

Total

long

contracts

782,541

Short

Contracts

U.S.

Treasury

Long

Bond

(27)

9/2024

USD

(3,261,094)

(111,440)

Total

short

contracts

(111,440)

Net

contracts

671,101

As

of

July

31,

2024,

the

Fund

had

$703,389

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

Written

Call

Options

Contracts

as

of

July

31,

2024:

D

escription

Counterparty

Number

of

Contracts

Notional

Amount

Exercise

  Price  

Expiration

Date

Value

($)  

3

Month

SOFR

Exchange

Traded

200

USD

50,000,000

USD

95.50

12/13/2024

(60,000)

Total

written

call

options

contracts

(60,000)

Total

Written

Options

Contracts

(Premiums

Received

($59,176))

(60,000)

Currency:

USD

United

States

dollar

10

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

11

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

options,

swap

contracts,

and

financial

futures

contracts.

(a)

Options      

The

Fund

purchased

and/or

wrote

options

on

futures

contracts,

single

stocks,

ETFs,

and/or

indexes.

Such

option

investments

are

utilized

to

manage

currency

exposures

and/or

hedge

against

movements

in

the

values

of

the

foreign

currencies

in

which

the

portfolio

securities

are

denominated,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates

and

equity

movements,

to

capitalize

on

the

return-generating

features

of

selling

options

(short

volatility)

while

simultaneously

benefiting

from

the

risk-control

attributes

associated

with

buying

options

(long

volatility),

and/or

to

generate

consistent

outperformance,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

The

purchase

of

put

options

serves

as

a

short

hedge

and

the

purchase

of

call

options

serves

as

a

long

hedge.

Writing

put

options

serves

as

a

limited

long

hedge

because

increases

in

the

value

of

the

hedged

investment

would

be

offset

to

the

extent

of

the

premium

received

for

writing

the

option.

However,

if

the

security

depreciates

to

a

price

lower

than

the

strike

price

of

the

put

option,

it

can

be

expected

that

the

put

option

will

be

exercised,

and

the

Fund

will

be

obligated

to

purchase

the

security

at

more

than

its

market

value.

The

Fund

segregates

liquid

assets

to

cover

its

obligations

under

its

option

contracts.

Writing

call

options

serves

as

a

limited

short

hedge

because

declines

in

the

value

of

the

hedged

investment

would

be

offset

to

the

extent

of

the

premium

received

for

writing

the

option.

However,

if

the

security

appreciates

to

a

price

higher

than

the

exercise

price

of

the

call

option,

it

can

be

expected

that

the

call

option

will

be

exercised,

and

a

Fund

will

be

obligated

to

sell

the

security

at

less

than

its

market

value

or

will

be

obligated

to

purchase

the

security

at

a

price

greater

than

that

at

which

the

security

must

be

sold

under

the

option.

When the

Fund

writes

an

option,

an

amount

equal

to

the

premium

received

is

recorded

as

a

liability

and

subsequently

marked-

to-market

to

reflect

the

current

value

of

the

option

written.

Premiums

received

from

writing

options

which

expire

unexercised

are

treated

as

realized

gains.

Premiums

received

from

writing

options

which

are

exercised

or

closed

are

added

to

the

proceeds

from

or

offset

against

amounts

paid

on

the

underlying

transaction

to

determine

the

realized

gain

or

loss

on

such

underlying

transaction.

When the

Fund

writes

an

option,

it

has

no

control

over

whether

the

option

will

be

exercised,

and

as

a

result

bears

the

risk

of

an

unfavorable

change

in

the

price

of

the

instrument

underlying

the

written

option.

Writing

options

entails

the

risk

that the

Fund

may

not

be

able

to

enter

into

a

closing

transaction

because

of

an

illiquid

market.

Options

traded

on

an

exchange

are

valued

at

the

settlement

price

provided

by

an

independent

pricing

service

as

approved

by

the

Board.

If

a

settlement

price

is

not

available,

such

options

are

valued

at

the

last

quoted

sale

price,

if

available,

and

otherwise

at

the

average

bid/ask

price.

Exchange

traded

options

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

Options

traded

in

the

over-the-counter

(“OTC”)

market,

and

which

are

not

quoted

by

NASDAQ,

are

valued

at

the

last

quoted

bid

price,

and

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

The

value

of

an

option

position

reflects,

among

other

things,

the

implied

price

volatility

of

the

underlying

investment,

the

current

market

value

of

the

underlying

investment,

the

time

remaining

until

expiration

of

the

option,

the

relationship

of

the

strike

price

to

the

market

price

of

the

underlying

investment,

and

general

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Asset-Backed

Securities

$

–

$

26,792,960

$

–

$

26,792,960

Collateralized

Mortgage

Obligations

–

5,429,394

–

5,429,394

Commercial

Mortgage-Backed

Securities

–

7,836,491

–

7,836,491

Corporate

Bonds

–

94,610,687

–

94,610,687

Futures

Contracts

782,541

–

–

782,541

Mortgage-Backed

Securities

–

74,561,584

–

74,561,584

Municipal

Bonds

–

1,317,876

–

1,317,876

Repurchase

Agreements

–

6,174,649

–

6,174,649

U.S.

Government

Agency

Security

–

4,526,926

–

4,526,926

U.S.

Treasury

Obligations

–

61,488,799

–

61,488,799

Total

Assets

$

782,541

$

282,739,366

$

–

$

283,521,907

Liabilities:

Futures

Contracts

$

(111,440)

$

–

$

–

$

(111,440)

Written

Option

(60,000)

–

–

(60,000)

Total

Liabilities

$

(171,440)

$

–

$

–

$

(171,440)

Total

$

611,101

$

282,739,366

$

–

$

283,350,467

12

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Fund

market

conditions.

Options

that

expire

unexercised

have

no

value.

American-style

options

can

be

exercised

at

any

time

prior

to

the

expiration

date

of

the

option.

European-style

options

can

only

be

exercised

at

expiration

of

the

option.

The Fund

effectively

terminates

its

right

or

obligation

under

an

option

by

entering

into

a

closing

transaction.

Closing

transactions

permit the

Fund

to

realize

the

profit

or

limit

the

loss

on

an

option

position

prior

to

its

exercise

or

expiration.

If the

Fund

is

unable

to

affect

a

closing

transaction

for

an

option

it

purchased,

it

would

have

to

exercise

the

option

to

realize

any

profit.

The

inability

to

enter

into

a

closing

purchase

transaction

for

a

covered

call

option

written

by the

Fund

could

cause

material

losses

because the

Fund

would

be

unable

to

sell

the

investment

used

as

a

cover

for

the

written

option

until

the

option

expires

or

is

exercised.

The

writing

and

purchasing

of

options

is

a

highly

specialized

activity

that

involves

investment

techniques

and

risks

different

from

those

associated

with

ordinary

portfolio

securities

transactions.

Imperfect

correlation

between

options

and

the

securities

markets

may

detract

from

the

effectiveness

of

attempted

hedging.

Transactions

using

OTC

options

(other

than

options

purchased

by the

Fund)

expose the

Fund

to

counterparty

risk.

To

the

extent

required

by

Securities

and

Exchange

Commission

(“SEC”)

guidelines, the

Fund

will

not

enter

into

any

options

transactions

unless

it

owns

either

(i)

an

offsetting

(“covered”)

position

in

securities,

other

options,

or

futures

or

(ii)

cash

and

liquid

obligations

with

a

value

sufficient

at

all

times

to

cover

its

potential

obligations

to

the

extent

not

covered

as

provided

in

(i)

above.

A

Fund

will

also

earmark

or

set

aside

cash

and/or

appropriate

liquid

assets

in

a

segregated

custodial

account

as

required

by

SEC

and

U.S.

Commodity

Futures

Trading

Commission

regulations.

Assets

used

as

cover

or

held

in

a

segregated

account

cannot

be

sold

while

the

position

in

the

corresponding

option

or

futures

contract

is

open,

unless

they

are

replaced

with

similar

assets.

As

a

result,

the

commitment

of

a

large

portion

of the

Fund’s

assets

to

earmarking

or

segregated

accounts

as

a

cover

could

impede

portfolio

management

or the

Fund’s

ability

to

meet

redemption

requests

or

other

current

obligations.

(b)

Swap

Contracts             

Credit

Default

Swap

Contracts

— The

Fund entered

into

credit

default

swap

contracts.

Credit

default

swap

contracts

are

either

privately

negotiated

agreements

between

the

Fund

and

a

counterparty

or

traded

through

a

futures

commission

merchant

and

cleared

through

a

clearinghouse

that

serves

as

a

central

counterparty. 

Investments

in

credit

default

swap

contracts

are

utilized

to

expose

the

Fund’s

cash

holdings

to

the

investment

characteristics

and

performance

of

the

high-yield

bond

market

or

selected

credit

markets while

maintaining

liquidity

to

satisfy

shareholder

activity,

to

manage

broad

credit

market

spread

exposure

and/or

to

create

synthetic

long

and

short

exposure

to

select

credit

and sovereign

debt

securities,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

The

Fund

segregates

liquid

assets

to

cover

its

obligations

under

its

credit

default

swap

contracts.

As

the

protection

purchaser

in

a

credit

default

swap

contract,

the

Fund

pays

the

counterparty

a

periodic

stream

of

payments

over

the

term

of

the

contract,

provided

that

no

credit

event

or

default

(or

similar

event)

occurs.

However,

the

Fund

is

required

to

receive

the

par

(or

other

agreed-upon)

value

of

a

referenced

debt

obligation

from

the

counterparty

in

the

event

of

a

default

(or

similar

event)

by

a

third

party,

such

as

a

U.S.

or

foreign

issuer,

on

the

debt

obligation.

If

a

credit

event

or

default

(or

similar

event)

occurs,

the

Fund

either

(i)

receives

from

the

counterparty

an

amount

equal

to

the

notional

amount

of

the

swap

and

the

counterparty

takes

delivery

of

the

referenced

obligation,

other

deliverable

obligations

or

underlying

securities

comprising

the

referenced

index,

or

(ii)

receives

from

the

counterparty

a

net

settlement

amount

in

the

form

of

cash

or

securities

to

the

notional

amount

of

the

swap

and

the

recovery

value

of

the

referenced

obligation

or

underlying

securities

comprising

the

referenced

index.

As

the

purchaser

in

a

credit

default

swap

contract,

the

Fund’s

investment

would

generate

income

only

in

the

event

of

an

actual

default

(or

similar

event)

by

the

issuer

of

the

underlying

obligation. 

As

the

protection

seller

in

a

credit

default

swap

contract,

the

Fund

receives

from

the

counterparty

a

periodic

stream

of

payments

over

the

term

of

the

contract,

provided

that

no

credit

event

or

default

(or

similar

event)

occurs.

However,

the

Fund

is

required

to

pay

the

par

(or

other

agreed-upon)

value

of

a

referenced

debt

obligation

to

the

counterparty

in

the

event

of

a

default

(or

similar

event)

by

a

third

party,

such

as

a

U.S.

or

foreign

issuer,

on

the

debt

obligation.

In

return,

if

no

credit

event

or

default

(or

similar

event)

occurs,

the

Fund

keeps

the

stream

of

payments

and

would

have

no

payment

of

obligations.

If

a

credit

event

or

default

(or

similar

event)

occurs,

the

Fund

either

(i)

pays

to

the

counterparty

an

amount

equal

to

the

notional

amount

of

the

swap

and

takes

delivery

of

the

referenced

obligation,

other

deliverable

obligations

or

underlying

securities

comprising

the

referenced

index,

or

(ii)

pays

the

counterparty

a

net

settlement

amount

in

the

form

of

cash

or

securities

to

the

notional

amount

of

the

swap

and

the

recovery

value

of

the

referenced

obligation

or

underlying

securities

comprising

the

referenced

index.

By

selling

a

credit

default

swap

contract,

the

Fund

effectively

adds

economic

leverage

to

its

portfolio

because,

in

addition

to

its

total

net

assets,

the

Fund

is

subject

to

investment

exposure

on

the

notional

amount

of

the

swap.

Nationwide

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

13

Credit

default

swap

agreements

on

credit

indices

involve

one

party

making

a

stream

of

payments

to

another

party

in

exchange

for

the

right

to

receive

a

specified

return

in

the

event

of

a

write-down,

principal

shortfall,

interest

shortfall

or

default

of

all

or

part

of

the

referenced

entities

comprising

the

credit

index.

A

credit

index

is

a

basket

of

credit

instruments

or

exposures

designed

to

be

representative

of

some

part

of

the

credit

market

as

a

whole.

These

indices

are

made

up

of

reference

credits

that

are

judged

by

a

poll

of

dealers

to

be

the

most

liquid

entities

in

the

credit

default

swap

market

based

on

the

sector

of

the

index.

Components

of

the

indices

include

high-yield

securities.

Credit

indices

are

traded

using

credit

default

swap

contracts

with

standardized

terms

including

a

fixed

spread

and

standard

maturity

dates.

An

index

credit

default

swap

contract

references

all

the

names

in

the

index,

and

if

there

is

a

default,

the

credit

event

is

settled

based

on

the

name’s

weight

in

the

index.

For

most

indices,

each

name

has

an

equal

weight

in

the

index.

The

composition

of

the

indices

changes

periodically.

The

use

of

credit

default

swap

contracts

on

indices

is

often

less

expensive

than

it

would

be

to

buy

many

issuer-specific

credit

default

swap

contracts

to

achieve

a

similar

effect.

Credit

default

swap

contracts

are

marked-to-market

daily

based

on

valuations

from

independent

pricing

services.

Credit

default

swap

contracts

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

Implied

credit

spreads

are

utilized

in

determining

the

market

value

of

credit

default

swap

agreements

on

credit

indices

and

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

or

risk

of

default

for

the

credit

derivative.

Implied

credit

spreads

utilized

in

valuing

the

Fund’s

investments

as

of

July

31,

2024

are

disclosed

in

the

Statement

of

Investments.

The

implied

credit

spread

of

a

particular

referenced

entity

reflects

the

cost

of

selling

protection

on

such

entity’s

debt,

and

may

include

upfront

payments

required

to

be

made

to

enter

into

the

agreement.

For

credit

default

swap

agreements

on

credit

indices,

the

quoted

market

prices

and

resulting

value

serve

as

the

indicator

of

the

current

status

of

the

payment/performance

risk.

Wider

credit

spreads

represent

a

deterioration

of

the

referenced

entity’s

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

Certain

clearinghouses

currently

offer

clearing

for

limited

types

of

derivatives

transactions,

such

as

credit

derivatives.

In

a

centrally

cleared

credit

default

swap

contract,

immediately

following

execution

of

the

swap

agreement,

the

swap

agreement

is

novated

to

a

central

counterparty

(the

“CCP”)

and

the

Fund’s

counterparty

on

the

swap

agreement

becomes

the

CCP.

The

Fund

is

required

to

interface

with

the

CCP

through

a

broker.

Upon

entering

into

a

centrally

cleared

swap

contract,

the

Fund

is

required

to

deposit

initial

margin

with

the

broker

in

the

form

of

cash

or

securities

in

an

amount

that

varies

depending

on

the

size

and

risk

profile

of

the

particular

swap.

Securities

deposited

as

initial

margin

and

cash

pledged

as

collateral

are

designated

on

the

Statement

of

Investments,

as

applicable.

The

daily

change

in

valuation

of

centrally

cleared

credit

default

swap

contracts

is

recorded

as

a

receivable

or

payable

for

variation

margin

on

centrally

cleared

credit

default

swap

contracts.

Payments

received

from

(paid

to)

the

counterparty,

including

at

termination,

are

recorded

as

realized

gains

(losses).

(c)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

14

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Fund

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Assets:

Fair

Value

Futures

Contracts

Interest

rate

risk

Unrealized

appreciation

from

futures

contracts

$

782,541

Total

$

782,541

Liabilities:

Written

Options

Interest

rate

risk

Written

options,

at

value

$

(60,000)

Futures

Contracts

Interest

rate

risk

Unrealized

depreciation

from

futures

contracts

(111,440)

Total

$

(171,440)

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

15

Asset-Backed

Securities

7

.1

%

Principal

Amount

($)

Value

($)

Airlines

0

.1

%

United

Airlines

Pass-Through

Trust,

Series

2016-1,

Class

B,

3.65%,

1/7/2026

443,287

430,031

Automobiles

0

.7

%

AmeriCredit

Automobile

Receivables

Trust,

Series

2022-2,

Class

B,

4.81%,

4/18/2028

1,088,000

1,082,300

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2020-1A,

Class

A,

2.33%,

8/20/2026(a)

795,000

774,315

Chesapeake

Funding

II

LLC,

Series

2023-2A,

Class

A1,

6.16%,

10/15/2035(a)

388,215

392,290

Credit

Acceptance

Auto

Loan

Trust,

Series

2022-

3A,

Class

A,

6.57%,

10/15/2032(a)

565,000

568,244

Exeter

Automobile

Receivables

Trust,

Series

2022-3A,

Class

B,

4.86%,

12/15/2026

431,053

430,577

Santander

Drive

Auto

Receivables

Trust,

Series

2022-5,

Class

A3,

4.11%,

8/17/2026

25,629

25,608

SFS

Auto

Receivables

Securitization

Trust,

Series

2023-1A,

Class

A2A,

5.89%,

3/22/2027(a)

317,064

317,499

US

Bank

NA,

Series

2023-

1,

Class

B,

6.79%,

8/25/2032(a)

176,245

177,820

3,768,653

Commercial

Services

&

Supplies

0

.3

%

BlackRock

Shasta

CLO

XIII

LLC,

Series

2024-1A,

Class

A1,

7.15%,

7/15/2036(a)(b)

1,500,000

1,505,231

Credit

Card

0

.6

%

Capital

One

Multi-Asset

Execution

Trust,

Series

2005-B3,

Class

B3,

6.11%,

5/15/2028(b)

3,500,000

3,490,674

Equipment

Loans

&

Leases

0

.3

%

Amur

Equipment

Finance

Receivables

XI

LLC,

Series

2022-2A,

Class

A2,

5.30%,

6/21/2028(a)

143,208

143,160

Auxilior

Term

Funding

LLC,

Series

2023-1A,

Class

A2,

6.18%,

12/15/2028(a)

376,305

378,941

Daimler

Trucks

Retail

Trust,

Series

2023-1,

Class

A3,

5.90%,

3/15/2027

1,340,000

1,352,065

1,874,166

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Financial

Services

1

.2

%

Bayview

Opportunity

Master

Fund

VII

LLC,

Series

2024-

CAR1,

Class

A,

6.45%,

12/26/2031(a)(b)

433,747

435,086

Bayview

Opportunity

Master

Fund

VII

Trust,

Series

2024-SN1,

Class

C,

5.83%,

12/15/2028(a)

336,000

338,917

EnFin

Residential

Solar

Receivables

Trust,

Series

2024-1A,

Class

A,

6.65%,

2/20/2055(a)

633,395

655,182

Ford

Credit

Auto

Owner

Trust,

Series

2024-1,

Class

A,

4.87%,

8/15/2036(a)(c)

787,000

796,012

Merchants

Fleet

Funding

LLC,

Series

2024-1A,

Class

D,

6.85%,

4/20/2037(a)

883,000

895,482

MetroNet

Infrastructure

Issuer

LLC,

Series

2024-1A,

Class

A2,

6.23%,

4/20/2054(a)

132,370

135,570

Octagon

Investment

Partners

42

Ltd.,

Series

2019-

3A,

Class

X,

6.53%,

7/15/2037(a)(b)

1,250,000

1,250,000

Oscar

US

Funding

XVI

LLC,

Series

2024-1A,

Class

A3,

5.54%,

2/10/2028(a)

587,000

583,414

RCKT

Mortgage

Trust,

Series

2024-CES2,

Class

A2,

6.39%,

4/25/2044(a)(b)

449,530

453,351

Regional

Management

Issuance

Trust,

Series

2024-1,

Class

A,

5.83%,

7/15/2036(a)

293,000

298,329

TIF

Funding

III

LLC,

Series

2024-1A,

Class

A,

5.48%,

4/20/2049(a)

1,236,300

1,246,855

7,088,198

Other

3

.9

%

Apidos

CLO

XXXIX

Ltd.,

Series

2022-39A,

Class

A1,

6.58%,

4/21/2035(a)(b)

3,045,000

3,048,383

Cedar

Funding

VII

CLO

Ltd.,

Series

2018-7A,

Class

A1,

6.54%,

1/20/2031(a)(b)

5,944,099

5,950,043

Cerberus

Loan

Funding

XXXVII

LP,

Series

2022-

1A,

Class

A1,

7.08%,

4/15/2034(a)(b)

2,000,000

2,000,450

CF

Hippolyta

Issuer

LLC,

Series

2020-1,

Class

A1,

1.69%,

7/15/2060(a)

3,372,945

3,220,124

DataBank

Issuer,

Series

2021-2A,

Class

A2,

2.40%,

10/25/2051(a)

3,500,000

3,220,869

DB

Master

Finance

LLC,

Series

2021-1A,

Class

A2II,

2.49%,

11/20/2051(a)

3,461,250

3,098,447

16

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Other

Domino's

Pizza

Master

Issuer

LLC,

Series

2021-1A,

Class

A2I,

2.66%,

4/25/2051(a)

928,738

839,205

Hilton

Grand

Vacations

Trust

Series

2022-2A,

Class

A,

4.30%,

1/25/2037(a)

118,256

116,186

Series

2023-1A,

Class

A,

5.72%,

1/25/2038(a)

233,914

238,736

Textainer

Marine

Containers

VII

Ltd.,

Series

2021-

2A,

Class

A,

2.23%,

4/20/2046(a)

740,000

672,047

22,404,490

Total

Asset-Backed

Securities

(cost

$40,941,746)

40,561,443

Collateralized

Mortgage

Obligations

1

.5

%

Angel

Oak

Mortgage

Trust,

Series

2024-3,

Class

A2,

4.80%,

11/26/2068(a)(c)

119,810

117,191

BRAVO

Residential

Funding

Trust,

Series

2023-

NQM5,

Class

A2,

6.86%,

6/25/2063(a)(c)

455,251

459,394

COLT

Mortgage

Loan

Trust,

Series

2023-3,

Class

A2,

7.43%,

9/25/2068(a)(c)

731,159

741,219

Cross

Mortgage

Trust

Series

2024-H2,

Class

A2,

6.42%,

4/25/2069(a)(c)

329,612

331,208

Series

2024-H2,

Class

A3,

6.52%,

4/25/2069(a)(c)

390,373

392,255

Series

2024-H3,

Class

A2,

6.58%,

6/25/2069(a)(c)

895,795

902,998

FHLMC

REMIC,

Series

4026,

Class

WJ,

2.75%,

8/15/2041

250,434

241,228

GNMA

REMIC,

Series

2023-

19,

Class

WB,

5.67%,

11/20/2051(b)

704,879

722,635

GS

Mortgage-Backed

Securities

Trust,

Series

2024-HE1,

Class

A1,

6.95%,

8/25/2054(a)(b)

2,078,830

2,081,048

J.P.

Morgan

Mortgage

Trust,

Series

2024-CES1,

Class

A2,

6.15%,

6/25/2054(a)(c)

592,975

598,207

NYMT

Loan

Trust,

Series

2024-BPL2,

Class

A1,

6.51%,

5/25/2039(a)(c)

1,380,000

1,396,652

Towd

Point

Mortgage

Trust,

Series

2023-1,

Class

A1,

3.75%,

1/25/2063(a)

502,187

477,405

Total

Collateralized

Mortgage

Obligations

(cost

$8,413,301)

8,461,440

Commercial

Mortgage-Backed

Securities

1

.0

%

Principal

Amount

($)

Value

($)

GNMA

REMIC

Series

2018-17,

Class

MA,

2.60%,

5/16/2052

2,183,583

1,913,706

Series

2019-131,

Class

AD,

2.50%,

8/16/2060

4,685,130

3,962,626

Total

Commercial

Mortgage-Backed

Securities

(cost

$6,875,997)

5,876,332

Corporate

Bonds

41

.5

%

Aerospace

&

Defense

0

.5

%

Boeing

Co.

(The)

,

5.81%,

5/1/2050(d)

874,000

814,445

6.86%,

5/1/2054(a)

718,000

760,107

Rolls-Royce

plc

,

5.75%,

10/15/2027(a)

1,156,000

1,169,647

2,744,199

Automobiles

2

.1

%

Ford

Motor

Co.

,

3.25%,

2/12/2032(d)

7,550,000

6,337,702

General

Motors

Co.

,

5.60%,

10/15/2032

5,870,000

5,987,456

12,325,158

Banks

4

.5

%

Bank

of

America

Corp.

,

(SOFR

+

1.65%),

5.47%,

1/23/2035(e)

326,000

333,346

Bank

of

Montreal

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.01%),

7.30%,

11/26/2084(e)

1,782,000

1,801,527

Citizens

Bank

NA

,

2.25%,

4/28/2025

250,000

243,720

(SOFR

+

1.45%),

6.06%,

10/24/2025(e)

910,000

907,908

Citizens

Financial

Group,

Inc.

,

(SOFR

+

2.01%),

5.84%,

1/23/2030(d)(e)

422,000

428,976

(SOFR

+

1.91%),

5.72%,

7/23/2032(e)

1,087,000

1,100,386

(SOFR

+

2.33%),

6.65%,

4/25/2035(d)(e)

526,000

560,495

Danske

Bank

A/S

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.40%),

5.71%,

3/1/2030(a)(e)

1,987,000

2,032,026

JPMorgan

Chase

&

Co.

,

Series

HH,

(CME

Term

SOFR

3

Month

+

3.13%),

4.60%,

2/01/2025(e)(f)

572,000

567,699

(SOFR

+

1.19%),

5.04%,

1/23/2028(d)(e)

874,000

877,959

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

17

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

PNC

Financial

Services

Group,

Inc.

(The)

,

(United

States

SOFR

Compounded

Index

+

1.09%),

4.76%,

1/26/2027(e)

3,000,000

2,983,005

(United

States

SOFR

Compounded

Index

+

1.73%),

6.62%,

10/20/2027(d)(e)

849,000

879,267

Santander

Holdings

USA,

Inc.

,

(SOFR

+

2.36%),

6.50%,

3/9/2029(e)

417,000

430,590

Toronto-Dominion

Bank

(The)

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.98%),

7.25%,

7/31/2084(d)(e)

1,696,000

1,704,163

Truist

Financial

Corp.

,

(SOFR

+

1.44%),

4.87%,

1/26/2029(d)(e)

6,600,000

6,574,950

(SOFR

+

2.45%),

7.16%,

10/30/2029(d)(e)

462,000

497,640

(SOFR

+

2.36%),

5.87%,

6/8/2034(d)(e)

241,000

248,692

(SOFR

+

1.92%),

5.71%,

1/24/2035(d)(e)

3,125,000

3,195,071

US

Bancorp

,

(SOFR

+

2.26%),

5.84%,

6/12/2034(e)

498,000

516,971

25,884,391

Biotechnology

1

.0

%

Amgen,

Inc.

,

3.00%,

2/22/2029

4,900,000

4,582,275

5.38%,

5/15/2043

1,320,000

1,239,509

5,821,784

Broadline

Retail

0

.1

%

Macy's

Retail

Holdings

LLC

,

5.88%,

3/15/2030(a)

505,000

484,713

Building

Products

2

.0

%

Builders

FirstSource,

Inc.

,

6.38%,

3/1/2034(a)(d)

1,430,000

1,442,281

Carrier

Global

Corp.

,

2.72%,

2/15/2030(d)

4,000,000

3,603,665

6.20%,

3/15/2054(d)

165,000

183,609

Johnson

Controls

International

plc

,

1.75%,

9/15/2030(d)

3,760,000

3,187,959

Smyrna

Ready

Mix

Concrete

LLC

,

6.00%,

11/1/2028(a)(d)

1,756,000

1,739,502

8.88%,

11/15/2031(a)

1,174,000

1,265,166

11,422,182

Capital

Markets

2

.1

%

Goldman

Sachs

Group,

Inc.

(The)

,

(SOFR

+

1.51%),

4.39%,

6/15/2027(e)

3,250,000

3,208,974

Corporate

Bonds

Principal

Amount

($)

Value

($)

Capital

Markets

Goldman

Sachs

Group,

Inc.

(The),

(SOFR

+

1.27%),

5.73%,

4/25/2030(d)(e)

2,400,000

2,479,061

(SOFR

+

1.09%),

1.99%,

1/27/2032(d)(e)

4,040,000

3,349,534

Nasdaq,

Inc.

,

5.35%,

6/28/2028

455,000

466,302

5.95%,

8/15/2053

119,000

123,853

State

Street

Corp.

,

Series

I,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.61%),

6.70%,

3/15/2029(d)(e)(f)

1,137,000

1,138,211

UBS

Group

AG

,

(SOFR

+

3.92%),

6.54%,

8/12/2033(a)(e)

460,000

494,167

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.77%),

5.70%,

2/8/2035(a)(e)

820,000

839,068

12,099,170

Chemicals

1

.5

%

Axalta

Coating

Systems

Dutch

Holding

B

BV

,

7.25%,

2/15/2031(a)(d)

150,000

157,311

Braskem

Netherlands

Finance

BV

,

4.50%,

1/31/2030(a)

1,685,000

1,457,132

5.88%,

1/31/2050(a)

224,000

166,481

Celanese

US

Holdings

LLC

,

6.17%,

7/15/2027(d)

2,586,000

2,655,322

LG

Chem

Ltd.

,

2.38%,

7/7/2031(a)

3,750,000

3,175,374

Solvay

Finance

America

LLC

,

5.85%,

6/4/2034(a)

1,097,000

1,125,416

8,737,036

Commercial

Services

&

Supplies

0

.9

%

ILFC

E-Capital

Trust

I

,

(CME

Term

SOFR

3

Month

+

1.81%,

14.50%

Cap),

7.16%,

12/21/2065(a)(e)

3,800,000

3,154,245

Williams

Scotsman,

Inc.

,

6.63%,

6/15/2029(a)

633,000

644,577

Wrangler

Holdco

Corp.

,

6.63%,

4/1/2032(a)(d)

1,172,000

1,176,407

4,975,229

Consumer

Finance

0

.6

%

AerCap

Ireland

Capital

DAC

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.72%),

6.95%,

3/10/2055(d)(e)

234,000

236,621

Aircastle

Ltd.

,

5.75%,

10/1/2031(a)

459,000

461,882

Discover

Financial

Services

,

6.70%,

11/29/2032(d)

517,000

556,493

Ford

Motor

Credit

Co.

LLC

,

5.80%,

3/5/2027

851,000

859,098

18

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Consumer

Finance

General

Motors

Financial

Co.,

Inc.

,

2.40%,

10/15/2028

1,000,000

902,366

Macquarie

Airfinance

Holdings

Ltd.

,

6.50%,

3/26/2031(a)

653,000

677,682

3,694,142

Containers

&

Packaging

0

.9

%

Ardagh

Metal

Packaging

Finance

USA

LLC

,

6.00%,

6/15/2027(a)(d)

3,200,000

3,180,906

Sealed

Air

Corp.

,

6.13%,

2/1/2028(a)(d)

88,000

88,608

6.50%,

7/15/2032(a)

1,011,000

1,024,775

Smurfit

Kappa

Treasury

ULC

,

5.78%,

4/3/2054(a)(d)

625,000

637,422

4,931,711

Diversified

REITs

0

.2

%

VICI

Properties

LP

,

3.50%,

2/15/2025(a)

1,190,000

1,173,315

Diversified

Telecommunication

Services

2

.7

%

AT&T,

Inc.

,

2.55%,

12/1/2033(d)

3,760,000

3,074,856

CCO

Holdings

LLC

,

4.50%,

5/1/2032(a)

1,500,000

1,255,916

Iliad

Holding

SASU

,

8.50%,

4/15/2031(a)(d)

559,000

582,381

Verizon

Communications,

Inc.

,

1.50%,

9/18/2030(d)

12,970,000

10,853,558

15,766,711

Electric

Utilities

4

.0

%

Avangrid,

Inc.

,

3.20%,

4/15/2025

2,800,000

2,755,237

Duke

Energy

Carolinas

LLC

,

3.95%,

11/15/2028

3,795,000

3,718,775

Electricite

de

France

SA

,

5.70%,

5/23/2028(a)(d)

253,000

260,008

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.41%),

9.13%,

3/15/2033(a)(d)(e)(f)

543,000

601,607

6.90%,

5/23/2053(a)(d)

591,000

658,537

Enel

Finance

America

LLC

,

2.88%,

7/12/2041(a)

3,969,000

2,693,482

Enel

Finance

International

NV

,

5.00%,

6/15/2032(a)(d)

3,200,000

3,136,710

Eversource

Energy

,

5.13%,

5/15/2033

2,500,000

2,465,359

5.50%,

1/1/2034

402,000

405,046

Exelon

Corp.

,

5.45%,

3/15/2034

282,000

287,660

Indiana

Michigan

Power

Co.

,

5.63%,

4/1/2053(d)

122,000

122,726

IPALCO

Enterprises,

Inc.

,

5.75%,

4/1/2034

733,000

747,938

New

England

Power

Co.

,

5.94%,

11/25/2052(a)(d)

1,186,000

1,233,264

Niagara

Mohawk

Power

Corp.

,

5.66%,

1/17/2054(a)

297,000

294,262

Corporate

Bonds

Principal

Amount

($)

Value

($)

Electric

Utilities

Sociedad

de

Transmision

Austral

SA

,

4.00%,

1/27/2032(a)

3,750,000

3,351,443

22,732,054

Financial

Services

0

.3

%

Fiserv,

Inc.

,

5.60%,

3/2/2033(d)

379,000

392,226

Global

Payments,

Inc.

,

5.40%,

8/15/2032(d)

582,000

581,845

Synchrony

Bank

,

5.40%,

8/22/2025

997,000

994,451

1,968,522

Food

Products

0

.6

%

Bimbo

Bakeries

USA,

Inc.

,

6.40%,

1/15/2034(a)(d)

1,233,000

1,330,648

5.38%,

1/9/2036(a)

200,000

199,646

J

M

Smucker

Co.

(The)

,

6.50%,

11/15/2053(d)

331,000

366,813

NBM

US

Holdings,

Inc.

,

7.00%,

5/14/2026(a)

1,385,000

1,388,887

3,285,994

Ground

Transportation

0

.3

%

Triton

Container

International

Ltd.

,

3.15%,

6/15/2031(a)(d)

590,000

502,683

XPO,

Inc.

,

7.13%,

2/1/2032(a)

1,370,000

1,416,881

1,919,564

Health

Care

Providers

&

Services

0

.2

%

CVS

Health

Corp.

,

5.05%,

3/25/2048

1,000,000

881,917

HCA,

Inc.

,

3.13%,

3/15/2027

384,000

367,810

1,249,727

Health

Care

REITs

0

.5

%

Alexandria

Real

Estate

Equities,

Inc.

,

4.75%,

4/15/2035

378,000

358,840

Ventas

Realty

LP

,

4.00%,

3/1/2028(d)

2,300,000

2,230,375

2,589,215

Hotels,

Restaurants

&

Leisure

1

.3

%

Caesars

Entertainment,

Inc.

,

7.00%,

2/15/2030(a)

552,000

569,429

6.50%,

2/15/2032(a)

97,000

98,280

International

Game

Technology

plc

,

5.25%,

1/15/2029(a)(d)

1,475,000

1,446,252

MGM

China

Holdings

Ltd.

,

4.75%,

2/1/2027(a)

600,000

572,601

NCL

Corp.

Ltd.

,

7.75%,

2/15/2029(a)(d)

1,385,000

1,457,693

Wynn

Macau

Ltd.

,

5.63%,

8/26/2028(a)(d)

2,622,000

2,483,358

5.63%,

8/26/2028(a)

621,000

588,164

7,215,777

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

19

Corporate

Bonds

Principal

Amount

($)

Value

($)

Household

Durables

0

.2

%

Whirlpool

Corp.

,

5.75%,

3/1/2034

1,243,000

1,253,995

Independent

Power

and

Renewable

Electricity

Producers

1

.1

%

AES

Corp.

(The)

,

2.45%,

1/15/2031(d)

3,750,000

3,156,144

Constellation

Energy

Generation

LLC

,

5.80%,

3/1/2033

1,312,000

1,364,664

5.75%,

3/15/2054

1,719,000

1,712,083

6,232,891

Industrial

REITs

0

.2

%

Rexford

Industrial

Realty

LP

,

2.15%,

9/1/2031

1,110,000

906,164

Insurance

0

.1

%

Unum

Group

,

6.00%,

6/15/2054(d)

369,000

364,034

Machinery

0

.3

%

TK

Elevator

US

Newco,

Inc.

,

5.25%,

7/15/2027(a)

1,951,000

1,913,064

Media

1

.0

%

Comcast

Corp.

,

4.65%,

2/15/2033

5,500,000

5,431,880

Univision

Communications,

Inc.

,

8.00%,

8/15/2028(a)(d)

45,000

45,223

5,477,103

Metals

&

Mining

0

.2

%

Cleveland-Cliffs,

Inc.

,

7.00%,

3/15/2032(a)

1,430,000

1,435,166

Multi-Utilities

0

.8

%

DTE

Energy

Co.

,

4.95%,

7/1/2027

787,000

789,906

New

York

State

Electric

&

Gas

Corp.

,

5.85%,

8/15/2033(a)

1,268,000

1,318,235

NiSource,

Inc.

,

5.25%,

3/30/2028(d)

158,000

160,216

5.35%,

4/1/2034(d)

675,000

679,996

Public

Service

Enterprise

Group,

Inc.

,

6.13%,

10/15/2033

575,000

612,073

5.45%,

4/1/2034(d)

747,000

759,698

4,320,124

Oil,

Gas

&

Consumable

Fuels

6

.6

%

Aker

BP

ASA

,

2.00%,

7/15/2026(a)

3,027,000

2,853,909

Antero

Midstream

Partners

LP

,

6.63%,

2/1/2032(a)

531,000

541,740

BP

Capital

Markets

plc

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.04%),

4.38%,

6/22/2025(e)(f)

436,000

427,918

Cheniere

Energy

Partners

LP

,

5.95%,

6/30/2033

2,784,000

2,875,953

Corporate

Bonds

Principal

Amount

($)

Value

($)

Oil,

Gas

&

Consumable

Fuels

Cheniere

Energy,

Inc.

,

5.65%,

4/15/2034(a)

415,000

421,710

CITGO

Petroleum

Corp.

,

7.00%,

6/15/2025(a)

679,000

678,563

8.38%,

1/15/2029(a)

741,000

772,101

Columbia

Pipelines

Holding

Co.

LLC

,

6.06%,

8/15/2026(a)(d)

221,000

224,383

Columbia

Pipelines

Operating

Co.

LLC

,

6.54%,

11/15/2053(a)

489,000

529,845

CVR

Energy,

Inc.

,

5.75%,

2/15/2028(a)

1,711,000

1,613,038

Diamondback

Energy,

Inc.

,

5.40%,

4/18/2034(d)

454,000

459,568

5.75%,

4/18/2054

840,000

831,465

DT

Midstream,

Inc.

,

4.30%,

4/15/2032(a)

1,392,000

1,279,508

Empresa

Nacional

del

Petroleo

,

5.95%,

7/30/2034(a)

200,000

199,867

Enbridge,

Inc.

,

6.70%,

11/15/2053

701,000

783,181

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.12%),

7.38%,

3/15/2055(e)

1,747,000

1,770,235

Energy

Transfer

LP

,

5.25%,

7/1/2029(d)

2,245,000

2,269,360

Series

G,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.31%),

7.13%,

5/15/2030(e)(f)

487,000

485,448

7.38%,

2/1/2031(a)

114,000

120,398

5.55%,

5/15/2034(d)

182,000

183,634

5.95%,

5/15/2054(d)

450,000

444,368

Enterprise

Products

Operating

LLC

,

4.80%,

2/1/2049

1,915,000

1,740,860

Global

Partners

LP

,

6.88%,

1/15/2029

519,000

516,968

8.25%,

1/15/2032(a)

1,932,000

1,984,654

Hess

Midstream

Operations

LP

,

5.13%,

6/15/2028(a)(d)

204,000

198,585

5.50%,

10/15/2030(a)

575,000

558,598

Howard

Midstream

Energy

Partners

LLC

,

8.88%,

7/15/2028(a)

734,000

781,313

7.38%,

7/15/2032(a)

356,000

366,652

Occidental

Petroleum

Corp.

,

6.63%,

9/1/2030(d)

2,000,000

2,134,576

6.45%,

9/15/2036

1,317,000

1,406,800

ONEOK,

Inc.

,

5.80%,

11/1/2030

389,000

406,411

6.10%,

11/15/2032(d)

2,032,000

2,147,245

6.05%,

9/1/2033

1,805,000

1,898,755

SM

Energy

Co.

,

6.75%,

8/1/2029(a)

811,000

816,376

20

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Oil,

Gas

&

Consumable

Fuels

Williams

Cos.,

Inc.

(The)

,

2.60%,

3/15/2031

3,500,000

3,027,340

37,751,325

Passenger

Airlines

0

.1

%

United

Airlines,

Inc.

,

4.63%,

4/15/2029(a)(d)

902,000

852,425

Pharmaceuticals

0

.0

%

†

Endo

Finance

Holdings,

Inc.

,

8.50%,

4/15/2031(a)(d)

156,000

164,412

Retail

REITs

0

.3

%

Brixmor

Operating

Partnership

LP

,

3.85%,

2/1/2025

496,000

491,135

Kite

Realty

Group

LP

,

4.00%,

10/1/2026

397,000

387,124

5.50%,

3/1/2034(d)

137,000

137,542

Phillips

Edison

Grocery

Center

Operating

Partnership

I

LP

,

5.75%,

7/15/2034(d)

603,000

611,883

1,627,684

Semiconductors

&

Semiconductor

Equipment

1

.5

%

Broadcom,

Inc.

,

5.05%,

7/12/2029

1,765,000

1,786,740

Intel

Corp.

,

5.20%,

2/10/2033

190,000

193,827

5.70%,

2/10/2053(d)

125,000

126,053

Micron

Technology,

Inc.

,

2.70%,

4/15/2032

3,750,000

3,185,218

NXP

BV

,

3.40%,

5/1/2030(d)

3,500,000

3,241,940

8,533,778

Software

0

.9

%

Oracle

Corp.

,

5.55%,

2/6/2053(d)

248,000

241,197

Salesforce,

Inc.

,

2.70%,

7/15/2041

3,565,000

2,570,219

VMware

LLC

,

2.20%,

8/15/2031

2,870,000

2,397,020

5,208,436

Specialized

REITs

0

.5

%

Equinix,

Inc.

,

3.90%,

4/15/2032(d)

3,000,000

2,796,791

Specialty

Retail

0

.4

%

Lowe's

Cos.,

Inc.

,

2.80%,

9/15/2041

3,395,000

2,394,292

Technology

Hardware,

Storage

&

Peripherals

0

.1

%

Dell

International

LLC

,

3.45%,

12/15/2051

924,000

645,144

Tobacco

0

.5

%

BAT

Capital

Corp.

,

6.34%,

8/2/2030(d)

623,000

663,122

7.08%,

8/2/2053

225,000

249,309

Philip

Morris

International,

Inc.

,

5.63%,

11/17/2029

281,000

293,483

Corporate

Bonds

Principal

Amount

($)

Value

($)

Tobacco

Philip

Morris

International,

Inc.,

2.10%,

5/1/2030(d)

1,825,000

1,587,099

2,793,013

Trading

Companies

&

Distributors

0

.4

%

AerCap

Holdings

NV

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.54%),

5.88%,

10/10/2079(d)(e)

1,135,000

1,132,158

Herc

Holdings,

Inc.

,

6.63%,

6/15/2029(a)(d)

1,154,000

1,178,249

2,310,407

Total

Corporate

Bonds

(cost

$241,533,220)

238,000,842

Foreign

Government

Securities

2

.7

%

AUSTRALIA

0.7%

Treasury

Corp.

of

Victoria,

5.25%,

9/15/2038

AUD

6,415,000

4,147,809

HUNGARY

0.1%

Hungary

Government

Bond,

6.75%,

9/25/2052(a)

400,000

432,688

PERU

0.8%

Bonos

de

la

Tesoreria,

Reg.

S,

7.30%,

8/12/2033(a)

PEN

16,790,000

4,644,736

POLAND

0.4%

Republic

of

Poland,

5.50%,

3/18/2054

2,204,000

2,173,309

ROMANIA

0.7%

Romania

Government

Bond,

7.20%,

10/30/2033

RON

18,145,000

4,058,678

Total

Foreign

Government

Securities

(cost

$15,332,824)

15,457,220

Mortgage-Backed

Securities

28

.5

%

FHLMC

Gold

Pool

Pool#

J14732

4.00%,

3/1/2026

3

3

Pool#

C91768

3.50%,

7/1/2034

1,618,509

1,560,830

Pool#

G30692

3.50%,

8/1/2034

2,024,815

1,953,500

Pool#

G30782

3.50%,

2/1/2035

580,873

559,347

Pool#

C91859

3.50%,

12/1/2035

563,376

542,835

Pool#

C91868

3.50%,

4/1/2036

1,422,257

1,366,555

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

21

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

Gold

Pool

Pool#

Q10392

3.50%,

8/1/2042

919,922

862,264

Pool#

G08541

3.50%,

8/1/2043

1,345,913

1,261,507

Pool#

G08554

3.50%,

10/1/2043

766,999

718,636

Pool#

G08588

4.00%,

5/1/2044

526,194

507,395

Pool#

G08721

3.00%,

9/1/2046

1,917,637

1,719,428

Pool#

G08726

3.00%,

10/1/2046

2,820,480

2,527,494

FHLMC

UMBS

Pool

Pool#

SB0548

2.00%,

7/1/2036

4,154,447

3,759,318

Pool#

RB5076

2.00%,

8/1/2040

6,694,706

5,759,065

Pool#

SD0040

3.00%,

7/1/2049

1,557,088

1,383,895

Pool#

SD8036

3.00%,

1/1/2050

1,120,549

995,911

Pool#

SD0612

2.50%,

11/1/2050

3,220,167

2,768,945

Pool#

QC0345

2.00%,

3/1/2051

1,243,437

1,020,785

Pool#

SD1657

2.50%,

2/1/2052

7,910,406

6,768,433

Pool#

SD1607

2.50%,

3/1/2052

6,059,540

5,184,608

Pool#

SD3771

2.50%,

3/1/2052

1,875,176

1,587,130

Pool#

SD5351

3.00%,

6/1/2052

1,770,664

1,573,697

Pool#

SD1042

3.00%,

6/1/2052

619,689

548,365

Pool#

SD1716

5.00%,

9/1/2052

2,891,977

2,885,363

Pool#

SD1686

5.50%,

9/1/2052

2,519,135

2,561,914

Pool#

SD1853

5.50%,

11/1/2052

1,284,664

1,309,337

Pool#

RA9992

6.00%,

10/1/2053

1,625,549

1,665,878

FNMA

UMBS

Pool

Pool#

MA2124

3.00%,

12/1/2029

264,383

255,326

Pool#

AL6591

3.00%,

9/1/2033

1,614,424

1,525,297

Pool#

MA1608

3.50%,

10/1/2033

2,070,241

1,994,250

Pool#

MA1982

3.50%,

8/1/2034

2,193,608

2,112,490

Pool#

MA2610

3.00%,

5/1/2036

2,001,929

1,879,805

Pool#

MA3697

3.00%,

7/1/2039

1,383,353

1,274,425

Pool#

AE0311

3.50%,

8/1/2040

1,499,018

1,406,756

Pool#

AB1845

4.00%,

11/1/2040

1,539,150

1,486,172

Pool#

AJ9278

3.50%,

12/1/2041

1,673,912

1,567,198

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

AW8165

4.00%,

1/1/2042

1,223,150

1,181,065

Pool#

AU2592

3.50%,

8/1/2043

1,195,794

1,119,437

Pool#

AX4312

3.50%,

2/1/2045

676,388

629,041

Pool#

AZ7353

3.50%,

11/1/2045

1,056,947

981,214

Pool#

AS6408

3.50%,

1/1/2046

1,572,692

1,459,188

Pool#

AS8583

3.50%,

1/1/2047

2,840,255

2,627,629

Pool#

MA3088

4.00%,

8/1/2047

619,933

593,978

Pool#

CA1191

3.50%,

11/1/2047

1,656,872

1,530,239

Pool#

MA3305

3.50%,

3/1/2048

1,340,105

1,233,209

Pool#

MA3744

3.00%,

8/1/2049

1,384,544

1,230,771

Pool#

CA7972

3.00%,

9/1/2050

6,387,314

5,659,375

Pool#

FM7398

2.50%,

6/1/2051

4,274,845

3,670,494

Pool#

FM9134

3.00%,

6/1/2051

4,220,090

3,775,347

Pool#

FP0012

3.00%,

8/1/2051

1,146,198

1,020,266

Pool#

MA4439

3.00%,

10/1/2051

6,578,007

5,767,154

Pool#

FM9924

2.00%,

12/1/2051

5,818,401

4,820,653

Pool#

CB2371

2.50%,

12/1/2051

5,285,032

4,520,019

Pool#

FS5928

2.50%,

1/1/2052

3,372,512

2,864,545

Pool#

FS5448

3.00%,

3/1/2052

1,735,360

1,537,744

Pool#

FS2838

2.50%,

4/1/2052

1,058,100

907,827

Pool#

FS3537

2.50%,

4/1/2052

989,391

849,524

Pool#

CB3678

4.00%,

5/1/2052

2,886,493

2,711,972

Pool#

FS1855

4.00%,

5/1/2052

2,435,703

2,302,840

Pool#

FS6731

3.00%,

6/1/2052

5,953,442

5,271,392

Pool#

MA4625

3.50%,

6/1/2052

2,894,180

2,626,125

Pool#

CB3851

4.00%,

6/1/2052

1,784,318

1,694,690

Pool#

MA4684

4.50%,

6/1/2052

2,299,966

2,218,007

Pool#

FS2323

4.00%,

7/1/2052

1,962,986

1,848,541

Pool#

FS2293

4.50%,

7/1/2052

5,320,851

5,171,567

Pool#

FS2257

4.50%,

7/1/2052

1,413,391

1,375,462

Pool#

CB4037

5.00%,

7/1/2052

2,701,311

2,663,398

22

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

BV7937

4.00%,

8/1/2052

2,810,029

2,633,472

Pool#

FS2790

5.00%,

9/1/2052

3,872,337

3,837,734

Pool#

FS3210

5.00%,

9/1/2052

1,812,381

1,791,611

Pool#

FS3220

5.50%,

11/1/2052

2,544,819

2,557,994

Pool#

FS6582

6.00%,

12/1/2053

5,860,386

6,017,487

Pool#

CB8355

6.50%,

4/1/2054

2,414,837

2,501,965

GNMA

Pool#

BT6867

,

3.00%,

5/20/2050

1,036,513

922,267

Total

Mortgage-Backed

Securities

(cost

$170,500,621)

162,979,400

Municipal

Bonds

0

.6

%

Michigan

0

.2

%

University

of

Michigan,

RB,

Series

C,

3.60%,

4/1/2047

1,145,000

979,241

Virginia

0

.4

%

City

of

Richmond,

RB,

Series

B,

2.50%,

1/15/2029

2,450,000

2,266,096

Total

Municipal

Bonds

(cost

$3,693,289)

3,245,337

U.S.

Treasury

Obligations

14

.4

%

U.S.

Treasury

Bonds

1.88%,

2/15/2041

21,963,200

15,569,850

4.50%,

2/15/2044

5,517,000

5,572,170

4.63%,

5/15/2044

645,000

662,435

4.25%,

2/15/2054

(d)

193,000

189,804

4.63%,

5/15/2054

1,335,000

1,397,995

U.S.

Treasury

Notes

4.25%,

5/31/2025

(d)

4,175,000

4,153,668

5.00%,

8/31/2025

7,400,000

7,420,524

0.88%,

6/30/2026

1,280,000

1,200,400

0.88%,

9/30/2026

8,693,000

8,100,110

4.50%,

5/31/2029

9,686,000

9,926,637

4.25%,

6/30/2029

1,602,700

1,624,862

4.25%,

6/30/2031

15,701,000

15,970,861

4.38%,

5/15/2034

10,445,000

10,712,653

Total

U.S.

Treasury

Obligations

(cost

$86,501,125)

82,501,969

Preferred

Stock

0

.4

%

Shares

Value

($)

Consumer

Finance

0

.4

%

Capital

One

Financial

Corp.,

4.80%,

6/1/2025(g)

128,250

2,402,122

Total

Preferred

Stock

(cost

$3,278,070)

2,402,122

Repurchase

Agreements

2

.6

%

Principal

Amount

($)

CF

Secured,

LLC

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,028,113,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$2,068,675.

(h)

2,027,812

2,027,812

HSBC

Securities,

Inc.

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,739,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$5,100,754.

(h)

5,000,000

5,000,000

Nomura

Securities

International,

Inc.

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,445,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$3,060,000.

(h)

3,000,000

3,000,000

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

23

Repurchase

Agreements

Principal

Amount

($)

Value

($)

Societe

Generale

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,741,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$5,100,003.

(h)

5,000,000

5,000,000

Total

Repurchase

Agreements

(cost

$15,027,812)

15,027,812

Total

Investments

(cost

$592,098,005)

—

100.3%

574,513,917

Liabilities

in

excess

of

other

assets

—

(0.3)%

(

1,531,866

)

NET

ASSETS

—

100.0%

$

572,982,051

†

Amount

rounds

to

less

than

0.1%.

(a)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$121,823,545

which

represents

21.26%

of

net

assets.

(b)

Variable

or

floating

rate

security,

the

interest

rate

of

which

adjusts

periodically

based

on

changes

in

current

interest

rates

and

prepayments

on

the

underlying

pool

of

assets.  The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(c)

Step

Bond.

Coupon

rate

is

set

for

an

initial

period

and

then

increases

to

a

higher

coupon

rate

at

a

specific

date.

The

rate

shown

is

the

rate

as

of

July

31,

2024.

(d)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$25,351,647,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$15,027,812

and

by

$11,308,872

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

5.35%,

and

maturity

dates

ranging

from

8/8/2024

–

11/15/2053,

a

total

value

of

$26,336,684.

(e)

Variable

or

floating

rate

security,

linked

to

the

referenced

benchmark.

The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(f)

Perpetual

Bond

Security.

The

rate

reflected

in

the

Statement

of

Investments

is

the

rate

in

effect

on

July

31,

2024.

The

maturity

date

reflects

the

next

call

date.

(g)

The

date

shown

reflects

the

next

call

date

on

which

the

issuer

may

redeem

the

security

at

par

value.

The

coupon

rate

for

this

security

is

based

on

par

value

and

is

currently

in

effect

as

of

July

31,

2024.

(h)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$15,027,812.

CLO

Collateralized

Loan

Obligations

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

GNMA

Government

National

Mortgage

Association

RB

Revenue

Bond

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

REIT

Real

Estate

Investment

Trust

REMICS

Real

Estate

Mortgage

Investment

Conduits

SOFR

Secured

Overnight

Financing

Rate

UMBS

Uniform

Mortgage-Backed

Securities

Currency:

AUD

Australian

Dollar

PEN

Peru

Nuevo

Sol

RON

Romanian

Leu

USD

United

States

Dollar

24

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

Forward

Foreign

Currency

Contracts

outstanding

as

of

July

31,

2024:

Currenc

y

Purchased

Currency

Sold

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

($)

GBP

153,000

USD

194,956

Barclays

Bank

plc

8/13/2024

1,754

USD

4,218,575

AUD

6,322,000

Barclays

Bank

plc

8/13/2024

83,084

USD

48,809

EUR

45,000

JPMorgan

Chase

Bank

NA

8/13/2024

82

Total

unrealized

appreciation

84,920

CAD

840,000

USD

613,729

Barclays

Bank

plc

8/13/2024

(

5,124

)

EUR

250,000

USD

270,852

JPMorgan

Chase

Bank

NA

8/13/2024

(

148

)

USD

18,320

EUR

17,000

Barclays

Bank

plc

8/13/2024

(

88

)

USD

61,969

GBP

49,000

JPMorgan

Chase

Bank

NA

8/13/2024

(

1,030

)

USD

4,450,508

PEN

17,130,000

Barclays

Bank

plc

**

8/13/2024

(

132,122

)

USD

4,162,228

RON

19,272,000

Barclays

Bank

plc

8/13/2024

(

29,245

)

USD

196,791

SEK

2,126,000

JPMorgan

Chase

Bank

NA

8/13/2024

(

1,841

)

Total

unrealized

depreciation

(

169,598

)

Net

unrealized

depreciation

(

84,678

)

**

Non-deliverable

forward.

Currency:

AUD

Australian

dollar

CAD

Canadian

dollar

EUR

Euro

GBP

British

pound

PEN

Peruvian

nuevo

sol

RON

Romanian

Leu

SEK

Swedish

krona

USD

United

States

dollar

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

Australia

10

Year

Bond

76

9/2024

AUD

5,729,525

89,384

Euro-Bund

124

9/2024

EUR

17,946,432

177,704

U.S.

Treasury

2

Year

Note

328

9/2024

USD

67,360,438

528,635

U.S.

Treasury

5

Year

Note

1,491

9/2024

USD

160,864,922

2,622,194

U.S.

Treasury

Long

Bond

343

9/2024

USD

41,427,969

1,273,182

U.S.

Treasury

Ultra

Bond

49

9/2024

USD

6,270,469

115,596

Total

long

contracts

4,806,695

Short

Contracts

Canada

10

Year

Bond

(

319

)

9/2024

CAD

(28,405,360)

(756,092)

Japan

10

Year

Bond

(

22

)

9/2024

JPY

(20,959,514)

99,201

U.S.

Treasury

10

Year

Note

(

364

)

9/2024

USD

(40,699,750)

(943,281)

U.S.

Treasury

10

Year

Ultra

Note

(

198

)

9/2024

USD

(22,884,469)

(221,974)

Total

short

contracts

(1,822,146)

Net

contracts

2,984,549

As

of

July

31,

2024,

the

Fund

had

$4,273,487

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

AUD

Australian

Dollar

CAD

Canadian

Dollar

EUR

Euro

JPY

Japanese

Yen

USD

United

States

Dollar

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

25

Centrally

Cleared

Inflation-Linked

swap

contracts

outstanding

as

of

July

31,

2024

:

Floating

Rate

Index

Fixed

Rate

Pay/

Receive

Floating

Rate

Maturity

Date

Notional

Amount

Upfront

Payment

(Receipts)

($)

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

1

Month

HICPXT

At

Termination

2.46%

At

Termination

Pay

7/9/2054

EUR

2,725,000

–

69,120

69,120

1

Month

HICPXT

At

Termination

2.47%

At

Termination

Pay

7/9/2054

EUR

2,725,000

–

70,911

70,911

1

Month

HICPXT

At

Termination

2.53%

At

Termination

Pay

4/22/2054

EUR

4,050,000

(13,314)

210,276

196,962

1

Month

UKRPI

At

Termination

3.71%

At

Termination

Pay

5/16/2034

GBP

5,640,000

–

115,320

115,320

1

Month

UKRPI

At

Termination

3.78%

At

Termination

Pay

4/22/2034

GBP

5,650,000

(5,845)

154,126

148,281

Total

unrealized

appreciation

(19,159)

619,753

600,594

1

Month

USCPI

At

Termination

2.48%

At

Termination

Rec

7/11/2054

USD

3,120,000

988

(45,210)

(44,222)

1

Month

USCPI

At

Termination

2.52%

At

Termination

Rec

7/5/2054

USD

3,230,000

–

(67,840)

(67,840)

1

Month

USCPI

At

Termination

2.54%

At

Termination

Rec

4/22/2054

USD

6,460,000

785

(153,271)

(152,486)

Total

unrealized

depreciation

1,773

(266,321)

(264,548)

Net

unrealized

appreciation

(17,386)

353,432

336,046

–

–

–

Abbreviation:

HICPXT

Harmonized

Index

of

Consumer

Prices

ex.

Tobacco

UKRPI

United

Kingdom

Retail

Price

Index

USCPI

United

States

Consumer

Price

Index

Currency:

EUR

Euro

GBP

British

pound

USD

United

States

dollar

26

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

Centrally

Cleared

Interest

rate

swap

contracts

outstanding

as

of

July

31,

2024

:

Floating

Rate

Index

Fixed

Rate

Pay/

Receive

Floating

Rate

Maturity

Date

Notional

Amount

Upfront

Payment

(Receipts)

($)

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

6

Month

EURIBOR

semi-annually

2.70%

Annual

Pay

7/26/2029

EUR

18,700,000

–

106,782

106,782

–

–

–

3

Month

STIBOR

quarterly

2.39%

Annual

Rec

7/26/2029

SEK

204,000,000

–

(107,170)

(107,170)

Net

unrealized

depreciation

–

(388)

(388)

–

–

–

As

of

July

31,

2024,

the

Fund

had

$1,447,941

segregated

as

collateral

for

swap

contracts.

Abbreviation

:

EURIBOR

Euro

Interbank

Offered

Rate

STIBOR

Stockholm

Interbank

Offered

Rate

Currency:

EUR

Euro

SEK

Swedish

krona

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

27

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

28

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

financial

futures

contracts.

(a)

Forward

Foreign

Currency

Contracts          

The

Fund

entered

into

forward

foreign

currency

contracts

in

connection

with

planned

purchases

or

sales

of

securities

denominated

in

a

foreign

currency

and/or

to

hedge

the

U.S.

dollar

value

of

portfolio

securities

denominated

in

a

foreign

currency,

to

express

a

view

on

a

foreign

currency

vs.

the

U.S.

dollar

or

other

foreign

currency,

to

hedge

the

U.S.

dollar

value

of

portfolio

securities

denominated

in

a

foreign

currency,

and/or

to

seek

to

protect

against

anticipated

changes

in

future

foreign

currency

exchange

rate,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

A

forward

foreign

currency

contract

involves

an

obligation

to

purchase

or

sell

a

specific

currency

at

a

future

date,

which

may

be

any

fixed

number

of

days

from

the

date

of

the

contract

agreed

upon

by

the

parties,

at

a

price

set

at

the

time

of

the

contract.

Forward

foreign

currency

contracts

are

generally

valued

at

the

mean

of

the

last

quoted

bid

and

ask

prices,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

The

market

value

of

a

forward

foreign

currency

contract

fluctuates

with

changes

in

foreign

currency

exchange

rates.

All

commitments

are

marked-to-market

daily

at

the

applicable

exchange

rates

and

any

resulting

unrealized

appreciation

or

depreciation

is

recorded.

Realized

gains

or

losses

are

recorded

at

the

time

the

forward

foreign

currency

contract

matures

or

at

the

time

of

delivery

of

the

currency.

Forward

foreign

currency

contracts

entail

the

risk

of

unanticipated

movements

in

the

value

of

the

foreign

currency

relative

to

the

U.S.

dollar,

and

the

risk

that

the

counterparties

to

the

contracts

may

be

unable

to

meet

their

obligations

under

the

contract.

(b)

Swap

Contracts             

Interest

Rate

Swap

Contracts

—

The

Fund

entered

into

interest

rate

swap

contracts

to

hedge

against

investment

risks,

to

manage

portfolio

duration,

to

obtain

exposure

to

the

investment

characteristics

of

certain

bonds

or

groups

of

bonds,

and/or

to

otherwise

increase

returns,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Interest

rate

swap

contracts

are

swaps

contracts

in

which

the

parties

exchange

their

rights

to

receive

payments

on

a

security

or

other

reference

rate.

For

example,

the

parties

might

swap

the

right

to

receive

floating

rate

payments

for

the

right

to

receive

fixed

rate

payments.

The

Fund

has

segregated

liquid

assets

to

cover

its

obligations

under

the

interest

rate

swap

contract.

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Asset-Backed

Securities

$

–

$

40,561,443

$

–

$

40,561,443

Collateralized

Mortgage

Obligations

–

8,461,440

–

8,461,440

Commercial

Mortgage-Backed

Securities

–

5,876,332

–

5,876,332

Corporate

Bonds

–

238,000,842

–

238,000,842

Foreign

Government

Securities

–

15,457,220

–

15,457,220

Forward

Foreign

Currency

Contracts

–

84,920

–

84,920

Futures

Contracts

4,905,896

–

–

4,905,896

Inflation-linked

Swaps†

–

619,753

–

619,753

Interest

Rate

Swaps†

–

106,782

–

106,782

Mortgage-Backed

Securities

–

162,979,400

–

162,979,400

Municipal

Bonds

–

3,245,337

–

3,245,337

Preferred

Stock

2,402,122

–

–

2,402,122

Repurchase

Agreements

–

15,027,812

–

15,027,812

U.S.

Treasury

Obligations

–

82,501,969

–

82,501,969

Total

Assets

$

7,308,018

$

572,923,250

$

–

$

580,231,268

Liabilities:

Forward

Foreign

Currency

Contracts

$

–

$

(

169,598

)

$

–

$

(

169,598

)

Futures

Contracts

(

1,921,347

)

–

–

(

1,921,347

)

Inflation-linked

Swaps†

–

(

266,321

)

–

(

266,321

)

Interest

Rate

Swaps†

–

(

107,170

)

–

(

107,170

)

Total

Liabilities

$

(

1,921,347

)

$

(

543,089

)

$

–

$

(

2,464,436

)

Total

$

5,386,671

$

572,380,161

$

–

$

577,766,832

†

Swap

contracts

are

included

in

the

table

at

value,

with

the

exception

of

centrally

cleared

swap

contracts

which

are

included

in

the

table

at

unrealized

appreciation/(depreciation).

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

29

Interest

rate

swap

contracts

are

valued

daily

and

unrealized

appreciation

(depreciation)

is

recorded.

Certain

interest

rate

swap

contracts

may

accrue

periodic

interest

on

a

daily

basis

as

a

component

of

unrealized

appreciation

(depreciation);

the

Fund

will

realize

a

gain

or

loss

upon

the

payment

or

receipt

of

accrued

interest.

The

Fund

will

realize

a

gain

or

a

loss

when

the

interest

rate

swap

is

terminated.

The

use

of

interest

rate

swap

contracts

involves

the

risk

that

the

investment

adviser

will

not

accurately

predict

anticipated

changes

in

interest

rates,

which

may

result

in

losses

to

the

Fund.

Interest

rate

swap

contracts

also

involve

the

possible

failure

of

a

counterparty

to

perform

in

accordance

with

the

terms

of

the

swap

agreement.

If

a

counterparty

defaults

on

its

obligations

under

a

swap

agreement,

the

Fund

may

lose

any

amount

it

expected

to

receive

from

the

counterparty,

potentially

including

amounts

in

excess

of

the

Fund’s

initial

investment.

Interest

rate

swap

contracts

are

marked-to-market

daily

based

on

valuations

from

an

independent

pricing

service.

Interest

rate

swap

contracts

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

(c)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Assets:

Fair

Value

Swap

Contracts†

Interest

rate

risk

Unrealized

appreciation

on

centrally

cleared

swap

contracts

$

726,535

Forward

Foreign

Currency

Contracts

Currency

risk

Unrealized

appreciation

on

forward

foreign

currency

contracts

84,920

Futures

Contracts

Interest

rate

risk

Unrealized

appreciation

from

futures

contracts

4,905,896

Total

$

5,717,351

30

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Core

Plus

Bond

ESG

Fund

Liabilities:

Swap

Contracts†

Interest

rate

risk

Unrealized

depreciation

on

centrally

cleared

swap

contracts

$

(373,491)

Forward

Foreign

Currency

Contracts

Currency

risk

Unrealized

depreciation

on

forward

foreign

currency

contracts

(169,598)

Futures

Contracts

Interest

rate

risk

Unrealized

depreciation

from

futures

contracts

(1,921,347)

Total

$

(2,464,436)

†

Swap

contracts

are

included

in

the

table

at

value,

with

the

exception

of

centrally

cleared

swap

contracts

which

are

included

in

the

table

at

unrealized

appreciation/(depreciation).

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Inflation-Protected

Securities

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

31

Asset-Backed

Securities

5.6%

Principal

Amount

($)

Value

($)

Automobiles

1.1%

Carvana

Auto

Receivables

Trust,

Series

2023-

P3,

Class

A2,

6.09%,

11/10/2026(a)

255,751

256,038

Chesapeake

Funding

II

LLC,

Series

2023-2A,

Class

A1,

6.16%,

10/15/2035(a)

808,781

817,271

Westlake

Automobile

Receivables

Trust,

Series

2023-4A,

Class

A2,

6.23%,

1/15/2027(a)

893,803

896,679

1,969,988

Equipment

Loans

&

Leases

1.1%

CCG

Receivables

Trust,

Series

2023-2,

Class

A2,

6.28%,

4/14/2032(a)

1,000,000

1,012,060

Dell

Equipment

Finance

Trust,

Series

2023-3,

Class

A3,

5.93%,

4/23/2029(a)

500,000

505,823

M&T

Equipment

Notes,

Series

2023-1A,

Class

A2,

6.09%,

7/15/2030(a)

330,258

330,852

1,848,735

Financial

Services

2.3%

Alterna

Funding

III

LLC,

Series

2024-1A,

Class

A,

6.26%,

5/16/2039(a)

483,517

486,529

AMSR

Trust

Series

2020-SFR1,

Class

D,

2.62%,

4/17/2037(a)

1,000,000

973,359

Series

2020-SFR2,

Class

C,

2.53%,

7/17/2037(a)

660,550

639,618

Series

2020-SFR4,

Class

C,

1.86%,

11/17/2037(a)

750,000

713,834

FirstKey

Homes

Trust,

Series

2020-SFR2,

Class

C,

1.67%,

10/19/2037(a)

1,000,000

953,681

Tricon

Residential

Trust,

Series

2024-SFR1,

Class

B,

4.75%,

4/17/2041(a)

200,000

194,839

3,961,860

Other

1.1%

Goodgreen,

Series

2022-

1A,

Class

A,

3.84%,

10/15/2056(a)

371,378

326,023

Reach

ABS

Trust

Series

2024-1A,

Class

A,

6.30%,

2/18/2031(a)

194,531

195,114

Series

2023-1A,

Class

A,

7.05%,

2/18/2031(a)

53,249

53,383

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Other

SPS

Servicer

Advance

Receivables

Trust,

Series

2020-T2,

Class

A,

1.83%,

11/15/2055(a)

1,290,000

1,229,018

1,803,538

Total

Asset-Backed

Securities

(cost

$9,607,553)

9,584,121

Collateralized

Mortgage

Obligations

0.8%

FHLMC

REMIC,

Series

2296,

Class

H,

6.50%,

3/15/2031

10

10

FNMA

REMIC,

Series

2013-

59,

Class

MX,

2.50%,

9/25/2042

707,806

662,947

GCAT

2022-CM1

Trust,

Series

2022-HX1,

Class

A1,

2.89%,

12/27/2066(a)(b)

733,773

674,695

Total

Collateralized

Mortgage

Obligations

(cost

$1,449,636)

1,337,652

Commercial

Mortgage-Backed

Security

0.0%

†

FNMA

REMIC,

Series

1998-

73,

Class

MZ,

6.30%,

10/17/2038

54,868

50,865

Total

Commercial

Mortgage-Backed

Security

(cost

$55,057)

50,865

Mortgage-Backed

Securities

0.9%

FNMA

Pool

Pool#

874982

6.81%,

11/1/2025

1,246,165

1,240,950

Pool#

773298

6.63%,

4/1/2035(b)

208,973

214,959

Pool#

745769

6.71%,

7/1/2036(b)

74,310

74,831

Total

Mortgage-Backed

Securities

(cost

$1,539,123)

1,530,740

U.S.

Government

Agency

Securities

4.2%

FFCB,

3.25%,

7/28/2032

5,000,000

4,650,428

FHLB,

5.37%,

9/9/2024

2,615,000

2,614,435

Total

U.S.

Government

Agency

Securities

(cost

$7,659,895)

7,264,863

U.S.

Treasury

Obligations

87.3%

U.S.

Treasury

Inflation

Linked

Bonds

1.75%,

1/15/2028

(c)

4,800,000

7,156,126

3.63%,

4/15/2028

(c)(d)

5,000,000

10,295,386

32

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Inflation-Protected

Securities

Fund

g

U.S.

Treasury

Obligations

Principal

Amount

($)

Value

($)

U.S.

Treasury

Inflation

Linked

Bonds

2.50%,

1/15/2029

(c)

2,500,000

3,766,935

3.88%,

4/15/2029

(c)

3,300,000

6,887,452

0.63%,

2/15/2043

(c)(d)

6,850,000

7,245,505

1.38%,

2/15/2044

(c)

7,500,000

8,923,038

0.75%,

2/15/2045

(c)

3,000,000

3,093,473

1.00%,

2/15/2046

(c)

2,125,000

2,269,717

0.88%,

2/15/2047

(c)

5,000,000

5,039,452

1.00%,

2/15/2048

(c)

1,500,000

1,509,521

1.00%,

2/15/2049

(c)

1,250,000

1,225,572

0.25%,

2/15/2050

(c)

2,000,000

1,550,743

U.S.

Treasury

Inflation

Linked

Notes

0.13%,

4/15/2025

(c)

4,000,000

4,730,593

0.63%,

1/15/2026

(c)

3,000,000

3,845,920

0.13%,

7/15/2026

(c)

3,000,000

3,776,705

0.38%,

7/15/2027

(c)

10,250,000

12,599,855

1.63%,

10/15/2027

(c)

10,000,000

10,526,976

0.50%,

1/15/2028

(c)

10,500,000

12,742,913

0.88%,

1/15/2029

(c)

2,500,000

2,989,676

0.25%,

7/15/2029

(c)(d)

2,000,000

2,290,823

0.13%,

1/15/2030

(c)

8,000,000

8,942,367

0.13%,

7/15/2030

(c)

4,500,000

5,025,171

0.13%,

1/15/2031

(c)

5,250,000

5,703,358

0.13%,

7/15/2031

(c)

8,000,000

8,393,703

0.63%,

7/15/2032

(c)

6,000,000

5,935,356

U.S.

Treasury

Obligations

Principal

Amount

($)

Value

($)

U.S.

Treasury

Inflation

Linked

Notes

1.38%,

7/15/2033

(c)

4,000,000

3,987,842

Total

U.S.

Treasury

Obligations

(cost

$159,942,254)

150,454,178

Total

Investments

(cost

$180,253,518)

—

98.8%

170,222,419

Other

assets

in

excess

of

liabilities

—

1.2%

2,109,305

NET

ASSETS

—

100.0%

$

172,331,724

†

Amount

rounds

to

less

than

0.1%.

(a)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$10,258,816

which

represents

5.95%

of

net

assets.

(b)

Variable

or

floating

rate

security,

the

interest

rate

of

which

adjusts

periodically

based

on

changes

in

current

interest

rates

and

prepayments

on

the

underlying

pool

of

assets.  The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(c)

Principal

amounts

are

not

adjusted

for

inflation.

(d)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$7,565,954,

which

was

collateralized

by

$7,673,950

in

the

form

of

U.S

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.50%,

and

maturity

dates

ranging

from

8/8/2024

–

5/15/2054.

FFCB

Federal

Farm

Credit

Bank

FHLB

Federal

Home

Loan

Bank

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

REMICS

Real

Estate

Mortgage

Investment

Conduits

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

U.S.

Treasury

2

Year

Note

42

9/2024

USD

8,625,422

73,696

U.S.

Treasury

5

Year

Note

29

9/2024

USD

3,128,828

60,649

Net

contracts

134,345

As

of

July

31,

2024,

the

Fund

had

$58,991

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

Nationwide

Inflation-Protected

Securities

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

33

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

34

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Inflation-Protected

Securities

Fund

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

financial

futures

contracts.

(a)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Asset-Backed

Securities

$

–

$

9,584,121

$

–

$

9,584,121

Collateralized

Mortgage

Obligations

–

1,337,652

–

1,337,652

Commercial

Mortgage-Backed

Security

–

50,865

–

50,865

Futures

Contracts

134,345

–

–

134,345

Mortgage-Backed

Securities

–

1,530,740

–

1,530,740

U.S.

Government

Agency

Securities

–

7,264,863

–

7,264,863

U.S.

Treasury

Obligations

–

150,454,178

–

150,454,178

Total

$

134,345

$

170,222,419

$

–

$

170,356,764

Nationwide

Inflation-Protected

Securities

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

35

Assets:

Fair

Value

Futures

Contracts

Interest

rate

risk

Unrealized

appreciation

from

futures

contracts

$

134,345

Total

$

134,345

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

36

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Core

Bond

Fund

Asset-Backed

Securities

9

.5

%

Principal

Amount

($)

Value

($)

Automobiles

5

.3

%

American

Credit

Acceptance

Receivables

Trust

Series

2023-4,

Class

B,

6.63%,

2/14/2028(a)

290,000

292,948

Series

2022-4,

Class

C,

7.86%,

2/15/2029(a)

89,473

90,070

Series

2023-3,

Class

C,

6.44%,

10/12/2029(a)

500,000

504,568

Americredit

Automobile

Receivables

Trust,

Series

2023-1,

Class

B,

5.57%,

3/20/2028

735,000

741,511

AmeriCredit

Automobile

Receivables

Trust

Series

2021-2,

Class

B,

0.69%,

1/19/2027

461,899

455,810

Series

2021-3,

Class

C,

1.41%,

8/18/2027

830,000

786,464

Series

2022-2,

Class

A3,

4.38%,

4/18/2028

435,284

432,854

Avis

Budget

Rental

Car

Funding

AESOP

LLC

Series

2023-3A,

Class

A,

5.44%,

2/22/2028(a)

1,300,000

1,310,244

Series

2024-1A,

Class

A,

5.36%,

6/20/2030(a)

700,000

710,584

Bridgecrest

Lending

Auto

Securitization

Trust,

Series

2023-1,

Class

A3,

6.51%,

11/15/2027

1,000,000

1,006,592

Carmax

Auto

Owner

Trust,

Series

2023-2,

Class

A3,

5.05%,

1/18/2028

895,000

894,922

Carvana

Auto

Receivables

Trust

Series

2023-N1,

Class

A,

6.36%,

4/12/2027(a)

234,230

234,706

Series

2023-P1,

Class

A3,

5.98%,

12/10/2027(a)

1,425,000

1,430,716

Chesapeake

Funding

II

LLC,

Series

2023-1A,

Class

A1,

5.65%,

5/15/2035(a)

527,151

529,542

Citizens

Auto

Receivables

Trust,

Series

2024-1,

Class

A3,

5.11%,

4/17/2028(a)

235,000

235,541

Credit

Acceptance

Auto

Loan

Trust

Series

2022-3A,

Class

A,

6.57%,

10/15/2032(a)

1,360,000

1,367,807

Series

2023-1A,

Class

A,

6.48%,

3/15/2033(a)

550,000

556,082

Series

2023-3A,

Class

C,

7.62%,

12/15/2033(a)

100,000

104,168

DT

Auto

Owner

Trust

Series

2021-4A,

Class

C,

1.50%,

9/15/2027(a)

529,691

521,135

Series

2022-3A,

Class

B,

6.74%,

7/17/2028(a)

1,015,000

1,018,727

Series

2023-2A,

Class

B,

5.41%,

2/15/2029(a)

590,000

588,347

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Automobiles

Enterprise

Fleet

Financing

LLC

Series

2022-3,

Class

A2,

4.38%,

7/20/2029(a)

155,439

154,273

Series

2023-2,

Class

A2,

5.56%,

4/22/2030(a)

468,283

469,781

Series

2024-1,

Class

A3,

5.16%,

9/20/2030(a)

240,000

243,149

Exeter

Automobile

Receivables

Trust

Series

2022-5A,

Class

B,

5.97%,

3/15/2027

743,408

743,292

Series

2023-1A,

Class

B,

5.72%,

4/15/2027

476,537

476,406

Series

2023-2A,

Class

B,

5.61%,

9/15/2027

495,000

496,010

Flagship

Credit

Auto

Trust

Series

2020-4,

Class

C,

1.28%,

2/16/2027(a)

34,744

34,402

Series

2021-2,

Class

B,

0.93%,

6/15/2027(a)

847

845

Series

2022-4,

Class

A3,

6.32%,

6/15/2027(a)

785,000

788,148

Series

2023-2,

Class

C,

5.81%,

5/15/2029(a)

650,000

655,719

Ford

Credit

Auto

Owner

Trust

Series

2018-1,

Class

A,

3.19%,

7/15/2031(a)

1,900,000

1,879,865

Series

2021-1,

Class

A,

1.37%,

10/17/2033(a)

980,000

923,237

Foursight

Capital

Automobile

Receivables

Trust

Series

2022-1,

Class

A3,

1.83%,

12/15/2026(a)

158,164

157,106

Series

2022-2,

Class

A3,

4.59%,

6/15/2027(a)

325,412

324,118

GECU

Auto

Receivables

Trust,

Series

2023-

1A,

Class

A3,

5.63%,

8/15/2028(a)

450,000

453,129

Hertz

Vehicle

Financing

III

LLC,

Series

2023-3A,

Class

A,

5.94%,

2/25/2028(a)

845,000

856,382

LAD

Auto

Receivables

Trust,

Series

2023-4A,

Class

B,

6.39%,

10/16/2028(a)

260,000

265,743

Prestige

Auto

Receivables

Trust

Series

2021-1A,

Class

C,

1.53%,

2/15/2028(a)

680,000

662,870

Series

2023-1A,

Class

C,

5.65%,

2/15/2028(a)

495,000

494,775

Santander

Drive

Auto

Receivables

Trust

Series

2022-4,

Class

B,

4.42%,

11/15/2027

850,000

843,728

Series

2023-4,

Class

B,

5.77%,

12/15/2028

435,000

440,862

Series

2023-5,

Class

B,

6.16%,

12/17/2029

670,000

685,786

Nationwide

Loomis

Core

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

37

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Automobiles

Series

2023-1,

Class

C,

5.09%,

5/15/2030

1,255,000

1,253,577

Series

2023-3,

Class

C,

5.77%,

11/15/2030

475,000

482,885

SBNA

Auto

Lease

Trust,

Series

2024-A,

Class

A3,

5.39%,

11/20/2026(a)

350,000

350,888

SFS

Auto

Receivables

Securitization

Trust,

Series

2023-1A,

Class

A3,

5.47%,

10/20/2028(a)

555,000

558,626

United

Auto

Credit

Securitization

Trust,

Series

2022-2,

Class

C,

5.81%,

5/10/2027(a)

440,313

439,791

Westlake

Automobile

Receivables

Trust,

Series

2023-3A,

Class

C,

6.02%,

9/15/2028(a)

820,000

828,995

Wheels

Fleet

Lease

Funding

1

LLC,

Series

2023-1A,

Class

A,

5.80%,

4/18/2038(a)

1,010,251

1,011,562

World

Omni

Select

Auto

Trust,

Series

2021-A,

Class

B,

0.85%,

8/16/2027

595,000

581,386

31,370,674

Capital

Markets

0

.1

%

CarMax

Auto

Owner

Trust,

Series

2024-2,

Class

A3,

5.50%,

1/16/2029

350,000

355,935

Commercial

Services

&

Supplies

0

.2

%

Credit

Acceptance

Auto

Loan

Trust,

Series

2024-

2A,

Class

A,

5.95%,

6/15/2034(a)

1,200,000

1,218,314

Consumer

Finance

0

.6

%

Bridgecrest

Lending

Auto

Securitization

Trust,

Series

2024-2,

Class

A3,

5.84%,

6/15/2028

1,475,000

1,484,622

Carvana

Auto

Receivables

Trust,

Series

2024-P2,

Class

A3,

5.33%,

7/10/2029

365,000

368,875

Chesapeake

Funding

II

LLC,

Series

2024-1A,

Class

A1,

5.52%,

5/15/2036(a)

328,259

329,908

Hertz

Vehicle

Financing

LLC,

Series

2022-2A,

Class

A,

2.33%,

6/26/2028(a)

870,000

804,612

Santander

Drive

Auto

Receivables

Trust,

Series

2024-3,

Class

A3,

5.63%,

1/16/2029

680,000

685,919

3,673,936

Equipment

Loans

&

Leases

0

.5

%

Auxilior

Term

Funding

LLC,

Series

2023-1A,

Class

A2,

6.18%,

12/15/2028(a)

226,748

228,336

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Equipment

Loans

&

Leases

Dell

Equipment

Finance

Trust,

Series

2023-3,

Class

A3,

5.93%,

4/23/2029(a)

835,000

844,724

DLLMT

LLC,

Series

2023-

1A,

Class

A3,

5.34%,

3/22/2027(a)

835,000

835,608

M&T

Equipment

Notes,

Series

2023-1A,

Class

A3,

5.74%,

7/15/2030(a)

385,000

387,417

SCF

Equipment

Leasing

LLC

Series

2022-1A,

Class

A3,

2.92%,

7/20/2029(a)

396,537

391,617

Series

2023-1A,

Class

A2,

6.56%,

1/22/2030(a)

447,511

451,666

3,139,368

Financial

Services

2

.1

%

AmeriCredit

Automobile

Receivables

Trust,

Series

2024-1,

Class

A3,

5.43%,

1/18/2029

605,000

609,983

BHG

Securitization

Trust,

Series

2024-1CON,

Class

A,

5.81%,

4/17/2035(a)

241,827

244,820

Bridgecrest

Lending

Auto

Securitization

Trust,

Series

2024-3,

Class

B,

5.37%,

10/16/2028

280,000

280,685

Dell

Equipment

Finance

Trust,

Series

2024-1,

Class

A3,

5.39%,

3/22/2030(a)

170,000

171,746

Enterprise

Fleet

Financing

LLC,

Series

2024-3,

Class

A4,

5.06%,

3/20/2031(a)

460,000

463,633

Exeter

Automobile

Receivables

Trust,

Series

2024-4A,

Class

C,

5.48%,

8/15/2030

435,000

437,546

Frontier

Issuer

LLC,

Series

2024-1,

Class

A2,

6.19%,

6/20/2054(a)

510,000

523,350

GLS

Auto

Receivables

Issuer

Trust,

Series

2024-2A,

Class

B,

5.77%,

11/15/2028(a)

660,000

667,034

GLS

Auto

Select

Receivables

Trust

Series

2024-3A,

Class

A2,

5.59%,

10/15/2029(a)

615,000

619,379

Series

2024-2A,

Class

A2,

5.58%,

6/17/2030(a)

180,000

180,970

GM

Financial

Revolving

Receivables

Trust,

Series

2024-1,

Class

A,

4.98%,

12/11/2036(a)

775,000

787,363

Hertz

Vehicle

Financing

III

LLC,

Series

2024-1A,

Class

A,

5.44%,

1/25/2029(a)

855,000

860,023

Huntington

Auto

Trust,

Series

2024-1A,

Class

A3,

5.23%,

1/16/2029(a)

435,000

438,036

38

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Core

Bond

Fund

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Financial

Services

LAD

Auto

Receivables

Trust

Series

2024-2A,

Class

A3,

5.61%,

8/15/2028(a)

440,000

443,341

Series

2024-1A,

Class

A4,

5.17%,

9/15/2028(a)

195,000

195,951

MVW

LLC,

Series

2024-

1A,

Class

A,

5.32%,

2/20/2043(a)

242,118

245,418

Octane

Receivables

Trust,

Series

2024-2A,

Class

A2,

5.80%,

7/20/2032(a)

880,000

885,186

Post

Road

Equipment

Finance

LLC,

Series

2024-1A,

Class

A2,

5.59%,

11/15/2029(a)

170,000

170,517

Regional

Management

Issuance

Trust,

Series

2024-1,

Class

A,

5.83%,

7/15/2036(a)

280,000

285,093

SBNA

Auto

Lease

Trust,

Series

2024-B,

Class

A3,

5.56%,

11/22/2027(a)

445,000

449,564

SCF

Equipment

Leasing

LLC,

Series

2024-1A,

Class

A3,

5.52%,

1/20/2032(a)

355,000

360,674

SEB

Funding

LLC,

Series

2024-1A,

Class

A2,

7.39%,

4/30/2054(a)

395,000

405,935

Sierra

Timeshare

Receivables

Funding

LLC,

Series

2024-2A,

Class

A,

5.14%,

6/20/2041(a)

770,000

772,368

VStrong

Auto

Receivables

Trust,

Series

2024-A,

Class

B,

5.77%,

7/15/2030(a)

79,000

79,648

Westlake

Automobile

Receivables

Trust,

Series

2024-2A,

Class

A3,

5.56%,

2/15/2028(a)

380,000

381,897

Wheels

Fleet

Lease

Funding

1

LLC,

Series

2024-1A,

Class

A1,

5.49%,

2/18/2039(a)

465,000

468,614

Ziply

Fiber

Issuer

LLC,

Series

2024-1A,

Class

A2,

6.64%,

4/20/2054(a)

690,000

712,292

12,141,066

Other

0

.6

%

Aqua

Finance

Trust,

Series

2021-A,

Class

A,

1.54%,

7/17/2046(a)

365,620

332,074

BHG

Securitization

Trust,

Series

2022-C,

Class

A,

5.32%,

10/17/2035(a)

43,432

43,366

Frontier

Issuer

LLC,

Series

2023-1,

Class

A2,

6.60%,

8/20/2053(a)

810,000

823,437

Hilton

Grand

Vacations

Trust,

Series

2022-2A,

Class

C,

5.57%,

1/25/2037(a)

55,781

55,384

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Other

New

Economy

Assets

Phase

1

Sponsor

LLC,

Series

2021-1,

Class

A1,

1.91%,

10/20/2061(a)

1,355,000

1,226,891

OneMain

Financial

Issuance

Trust,

Series

2022-

S1,

Class

A,

4.13%,

5/14/2035(a)

1,165,000

1,146,989

3,628,141

Student

Loan

0

.1

%

Massachusetts

Educational

Financing

Authority,

Series

2018-A,

Class

A,

3.85%,

5/25/2033

186,690

180,801

Navient

Private

Education

Refi

Loan

Trust

Series

2020-BA,

Class

A2,

2.12%,

1/15/2069(a)

195,020

182,870

Series

2020-GA,

Class

A,

1.17%,

9/16/2069(a)

70,270

64,282

SoFi

Professional

Loan

Program

LLC,

Series

2018-A,

Class

A2B,

2.95%,

2/25/2042(a)

64,216

63,149

491,102

Total

Asset-Backed

Securities

(cost

$55,980,692)

56,018,536

Collateralized

Mortgage

Obligations

4

.0

%

FHLMC

REMIC

Series

5065,

Class

HI,

IO,

4.82%,

4/15/2042(b)

1,584,747

255,462

Series

5115,

Class

FD,

4.00%,

8/15/2043(b)

1,732,231

1,648,148

Series

5065,

Class

EI,

IO,

5.38%,

11/25/2044(b)

348,301

68,142

Series

5094,

Class

,

IO,

1.46%,

12/15/2048(b)

821,988

57,380

Series

5214,

Class

BI,

IO,

0.89%,

4/25/2052(b)

107,479

4,082

FNMA

REMIC

Series

2004-29,

Class

PS,

IO,

2.14%,

5/25/2034(b)

859,863

99,407

Series

2016-32,

Class

SA,

IO,

0.64%,

10/25/2034(b)

3,921,107

319,522

Series

2020-85,

Class

LI,

IO,

3.00%,

2/25/2035

2,765,257

306,493

Series

2010-57,

Class

SA,

IO,

0.99%,

6/25/2040(b)

1,201,964

115,783

Series

2010-63,

Class

SA,

IO,

1.04%,

6/25/2040(b)

1,029,914

96,513

Series

2010-118,

Class

SN,

IO,

1.14%,

10/25/2040(b)

5,259,726

714,851

Series

2013-117,

Class

Z,

3.50%,

11/25/2043

5,263,907

4,919,821

Series

2015-55,

Class

IN,

IO,

4.50%,

8/25/2045

256,988

36,212

Nationwide

Loomis

Core

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

39

Collateralized

Mortgage

Obligations

Principal

Amount

($)

Value

($)

Series

2017-26,

Class

ID,

IO,

3.50%,

4/25/2047

204,420

33,038

Series

2021-24,

Class

,

IO,

1.12%,

3/25/2059(b)

3,633,191

218,259

GNMA

REMIC

Series

2009-61,

Class

ZQ,

6.00%,

8/16/2039

4,018,201

4,247,157

Series

2020-34,

Class

,

IO,

5.00%,

12/20/2039

1,892,071

353,517

Series

2019-21,

Class

,

IO,

4.50%,

2/20/2049

3,477,313

517,083

Series

2019-117,

Class

LI,

IO,

3.50%,

9/20/2049

421,705

27,780

Series

2019-132,

Class

LI,

IO,

3.50%,

10/20/2049

146,296

13,882

Series

2012-H20,

Class

PT,

6.01%,

7/20/2062(b)

122,235

121,833

Series

2018-H02,

Class

ZJ,

4.31%,

10/20/2064(b)

472,871

463,789

Series

2017-H12,

Class

EZ,

5.41%,

6/20/2066(b)

129,122

128,528

Series

2017-H13,

Class

JZ,

5.08%,

5/20/2067(b)

117,400

117,916

Series

2017-H22,

Class

FD,

5.64%,

11/20/2067(b)

16,489

16,311

Series

2017-H25,

Class

FD,

5.59%,

12/20/2067(b)

33,930

33,532

Series

2021-H08,

Class

IA,

IO,

0.01%,

1/20/2068(b)

503,923

2,874

Series

2019-H01,

Class

FT,

5.84%,

10/20/2068(b)

683,265

681,439

Series

2019-H07,

Class

BZ,

4.26%,

1/20/2069(b)

4,637,187

4,384,693

Series

2019-H05,

Class

FT,

5.63%,

4/20/2069(b)

532,392

532,051

Series

2019-H13,

Class

FT,

5.65%,

8/20/2069(b)

75,674

75,538

Series

2019-H18,

Class

DF,

5.84%,

10/20/2069(b)

216,723

215,336

Series

2021-H03,

Class

,

IO,

4.14%,

4/20/2070(b)

3,920,093

18,734

Series

2022-H09,

Class

GF,

6.04%,

4/20/2072(b)

2,094,700

2,083,537

Series

2022-H22,

Class

FE,

6.38%,

9/20/2072(b)

753,059

755,501

Total

Collateralized

Mortgage

Obligations

(cost

$24,222,192)

23,684,144

Commercial

Mortgage-Backed

Securities

4

.6

%

BANK

Series

2020-BN25,

Class

A5,

2.65%,

1/15/2063

1,030,000

909,429

Series

2020-BN26,

Class

A4,

2.40%,

3/15/2063

2,050,000

1,786,363

Series

2021-BN37,

Class

A5,

2.62%,

11/15/2064(b)

1,480,000

1,261,650

BANK5,

Series

2023-

5YR4,

Class

A3,

6.50%,

12/15/2056

233,716

245,818

Commercial

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

BANK5

Trust,

Series

2024-

5YR6,

Class

A3,

6.23%,

5/15/2057

1,235,000

1,296,107

BBCMS

Mortgage

Trust

Series

2020-BID,

Class

A,

7.58%,

10/15/2037(a)(b)

1,095,000

1,089,525

Series

2021-C12,

Class

A5,

2.69%,

11/15/2054

1,470,000

1,271,303

BPR

Trust

Series

2022-OANA,

Class

A,

7.23%,

4/15/2037(a)(b)

605,000

604,622

Series

2021-NRD,

Class

A,

6.85%,

12/15/2038(a)(b)

815,000

796,688

BX

Trust,

Series

2024-

VLT4,

Class

A,

6.82%,

7/15/2029(a)(b)

480,000

479,194

Citigroup

Commercial

Mortgage

Trust,

Series

2019-C7,

Class

A4,

3.10%,

12/15/2072

910,000

832,199

Commercial

Mortgage

Pass-

Through

Certificates,

Series

2012-LTRT,

Class

A2,

3.40%,

10/5/2030(a)

75,775

73,810

CSAIL

Commercial

Mortgage

Trust,

Series

2019-

C18,

Class

A4,

2.97%,

12/15/2052

765,000

678,188

CSMC

OA

LLC

Series

2014-USA,

Class

A1,

3.30%,

9/15/2037(a)

334,917

297,365

Series

2014-USA,

Class

A2,

3.95%,

9/15/2037(a)

1,030,000

915,239

DC

Commercial

Mortgage

Trust,

Series

2023-

DC,

Class

A,

6.31%,

9/12/2040(a)

390,000

404,218

FHLMC

Multifamily

Structured

Pass-Through

Certificates

REMIC

Series

K107,

Class

X1,

IO,

1.59%,

1/25/2030(b)

476,572

34,214

Series

K142,

Class

X1,

IO,

0.30%,

3/25/2032(b)

5,762,706

113,412

Series

K147,

Class

X1,

IO,

0.36%,

6/25/2032(b)

3,865,021

99,886

Series

K149,

Class

X1,

IO,

0.26%,

8/25/2032(b)

6,240,674

129,822

Series

K-150,

Class

X1,

IO,

0.31%,

9/25/2032(b)

5,427,562

128,295

Series

K157,

Class

X1,

IO,

0.01%,

8/25/2033(b)

8,994,281

36,304

Series

K-1513,

Class

X1,

IO,

0.86%,

8/25/2034(b)

961,076

54,407

Series

K-1521,

Class

X1,

IO,

0.98%,

8/25/2036(b)

2,790,606

226,023

Series

K146,

Class

X1,

IO,

0.23%,

6/25/2054(b)

5,007,053

87,700

Series

K143,

Class

X1,

IO,

0.34%,

4/25/2055(b)

2,598,614

60,175

Series

K145,

Class

X1,

IO,

0.32%,

6/25/2055(b)

1,476,048

32,827

40

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Core

Bond

Fund

Commercial

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

ACES

REMIC

Series

2020-M33,

Class

X,

IO,

2.00%,

6/25/2028(b)

683,519

26,852

Series

2020-M37,

Class

X,

IO,

1.03%,

4/25/2032(b)

1,194,790

52,341

Series

2020-M43,

Class

X1,

IO,

1.90%,

8/25/2034(b)

4,871,881

323,969

Series

2020-M36,

Class

X1,

IO,

1.45%,

9/25/2034(b)

867,605

49,772

GNMA

REMIC

Series

2018-82,

Class

,

IO,

0.48%,

5/16/2058(b)

8,907,166

271,371

Series

2021-145,

Class

,

IO,

0.77%,

7/16/2061(b)

796,929

47,073

Series

2020-108,

Class

,

IO,

0.85%,

6/16/2062(b)

2,768,888

160,810

Series

2021-20,

Class

,

IO,

1.15%,

8/16/2062(b)

2,688,801

212,858

Series

2020-179,

Class

,

IO,

1.01%,

9/16/2062(b)

2,657,425

202,566

Series

2021-33,

Class

,

IO,

0.84%,

10/16/2062(b)

2,452,927

155,863

Series

2020-128,

Class

,

IO,

0.91%,

10/16/2062(b)

1,397,780

92,706

Series

2021-40,

Class

,

IO,

0.82%,

2/16/2063(b)

2,136,929

131,988

Series

2021-12,

Class

,

IO,

0.96%,

3/16/2063(b)

2,943,513

202,139

Series

2021-52,

Class

,

IO,

0.72%,

4/16/2063(b)

3,265,687

176,992

Series

2021-144,

Class

,

IO,

0.83%,

4/16/2063(b)

3,821,640

232,374

Series

2021-106,

Class

,

IO,

0.86%,

4/16/2063(b)

2,962,566

197,419

Series

2021-151,

Class

,

IO,

0.92%,

4/16/2063(b)

3,409,010

237,892

Series

2021-132,

Class

BI,

IO,

0.92%,

4/16/2063(b)

3,844,728

261,928

Series

2021-186,

Class

,

IO,

0.76%,

5/16/2063(b)

3,999,292

226,603

Series

2021-10,

Class

,

IO,

0.99%,

5/16/2063(b)

665,011

48,121

Series

2021-133,

Class

,

IO,

0.88%,

7/16/2063(b)

3,744,650

253,567

Series

2021-163,

Class

,

IO,

0.80%,

3/16/2064(b)

3,587,252

209,571

Series

2022-17,

Class

,

IO,

0.80%,

6/16/2064(b)

2,023,934

121,472

Series

2022-132,

Class

,

IO,

0.54%,

10/16/2064(b)

3,448,835

142,307

GS

Mortgage

Securities

Corp.

Trust

Series

2013-PEMB,

Class

A,

3.55%,

3/5/2033(a)(b)

410,000

348,458

Series

2012-BWTR,

Class

A,

2.95%,

11/5/2034(a)

1,031,131

839,350

GS

Mortgage

Securities

Trust,

Series

2020-GC45,

Class

A5,

2.91%,

2/13/2053

415,000

371,759

Hudsons

Bay

Simon

JV

Trust,

Series

2015-HB10,

Class

A10,

4.15%,

8/5/2034(a)

2,015,000

1,898,955

Commercial

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

SCOTT

Trust,

Series

2023-

SFS,

Class

A,

5.91%,

3/10/2040(a)

755,000

769,024

SPGN

Mortgage

Trust,

Series

2022-TFLM,

Class

A,

6.88%,

2/15/2039(a)(b)

1,495,000

1,469,271

Starwood

Retail

Property

Trust,

Series

2014-

STAR,

Class

A,

8.50%,

11/15/2027(a)(b)

599,090

359,454

Wells

Fargo

Commercial

Mortgage

Trust

Series

2021-C61,

Class

A4,

2.66%,

11/15/2054

2,165,000

1,852,959

Series

2022-C62,

Class

A4,

4.00%,

4/15/2055(b)

1,405,000

1,313,994

Total

Commercial

Mortgage-Backed

Securities

(cost

$29,302,209)

27,206,561

Corporate

Bonds

32

.1

%

Aerospace

&

Defense

0

.1

%

Boeing

Co.

(The)

,

6.86%,

5/1/2054(a)

305,000

322,887

Air

Freight

&

Logistics

0

.1

%

United

Parcel

Service,

Inc.

,

5.50%,

5/22/2054

635,000

641,821

Automobile

Components

0

.2

%

Aptiv

plc

,

3.10%,

12/1/2051

510,000

317,765

Denso

Corp.

,

1.24%,

9/16/2026(a)

1,115,000

1,031,428

1,349,193

Automobiles

0

.5

%

Mercedes-Benz

Finance

North

America

LLC

,

4.80%,

8/1/2029(a)

1,335,000

1,340,436

Volkswagen

Group

of

America

Finance

LLC

,

5.25%,

3/22/2029(a)(c)

1,650,000

1,669,139

3,009,575

Banks

6

.5

%

ABN

AMRO

Bank

NV

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.65%),

6.34%,

9/18/2027(a)(c)(d)

500,000

511,660

AIB

Group

plc

,

(SOFR

+

3.46%),

7.58%,

10/14/2026(a)(d)

690,000

707,467

(SOFR

+

2.33%),

6.61%,

9/13/2029(a)(c)(d)

205,000

215,776

ANZ

New

Zealand

International

Ltd.

,

5.36%,

8/14/2028(a)

700,000

717,274

Nationwide

Loomis

Core

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

41

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

Australia

&

New

Zealand

Banking

Group

Ltd.

,

4.90%,

7/16/2027(c)

1,085,000

1,096,934

Banco

Bilbao

Vizcaya

Argentaria

SA

,

5.38%,

3/13/2029

600,000

613,269

Banco

Santander

SA

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.45%),

5.54%,

3/14/2030(d)

800,000

810,479

5.44%,

7/15/2031

1,400,000

1,423,682

Bank

of

America

NA

,

5.53%,

8/18/2026(c)

1,010,000

1,025,574

Bank

of

Ireland

Group

plc

,

(SOFR

+

1.62%),

5.60%,

3/20/2030(a)(d)

1,230,000

1,244,719

Bank

of

Montreal

,

5.51%,

6/4/2031(c)

1,420,000

1,464,151

Bank

of

Nova

Scotia

(The)

,

5.45%,

8/1/2029(c)

865,000

890,728

Banque

Federative

du

Credit

Mutuel

SA

,

5.19%,

2/16/2028(a)

895,000

904,091

Canadian

Imperial

Bank

of

Commerce

,

5.24%,

6/28/2027(c)

1,445,000

1,463,144

Citibank

NA

,

4.84%,

8/6/2029

715,000

718,503

Citizens

Financial

Group,

Inc.

,

(SOFR

+

1.91%),

5.72%,

7/23/2032(d)

1,320,000

1,336,255

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.75%),

5.64%,

5/21/2037(d)

395,000

377,436

Comerica,

Inc.

,

(SOFR

+

2.16%),

5.98%,

1/30/2030(d)

295,000

295,746

Credit

Agricole

SA

,

5.37%,

3/11/2034(a)

985,000

998,085

Danske

Bank

A/S

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.55%),

0.98%,

9/10/2025(a)(d)

955,000

950,197

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.18%),

6.26%,

9/22/2026(a)(c)(d)

270,000

273,109

DNB

Bank

ASA

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.85%),

1.13%,

9/16/2026(a)(d)

1,115,000

1,065,459

Federation

des

Caisses

Desjardins

du

Quebec

,

5.70%,

3/14/2028(a)(c)

400,000

410,314

HSBC

Holdings

plc

,

(SOFR

+

1.57%),

5.89%,

8/14/2027(d)

565,000

573,813

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

HSBC

USA,

Inc.

,

5.63%,

3/17/2025(c)

925,000

926,676

Huntington

Bancshares,

Inc.

,

(SOFR

+

2.02%),

6.21%,

8/21/2029(d)

475,000

493,659

JPMorgan

Chase

&

Co.

,

(SOFR

+

1.85%),

5.35%,

6/1/2034(d)

515,000

524,398

(SOFR

+

1.46%),

5.29%,

7/22/2035(d)

1,100,000

1,115,437

KeyBank

NA

,

5.85%,

11/15/2027

690,000

699,183

Morgan

Stanley

Bank

NA

,

5.88%,

10/30/2026(c)

965,000

987,174

(SOFR

+

0.87%),

5.50%,

5/26/2028(d)

1,680,000

1,710,061

National

Bank

of

Canada

,

5.60%,

12/18/2028

410,000

422,482

PNC

Financial

Services

Group,

Inc.

(The)

,

(SOFR

+

1.20%),

5.49%,

5/14/2030(c)(d)

835,000

855,480

Royal

Bank

of

Canada

,

(SOFR

+

1.10%),

4.97%,

8/2/2030(c)(d)

2,185,000

2,203,642

Santander

Holdings

USA,

Inc.

,

(SOFR

+

2.14%),

6.34%,

5/31/2035(d)

540,000

553,288

Societe

Generale

SA

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.95%),

7.13%,

1/19/2055(a)(c)(d)

670,000

661,230

Standard

Chartered

plc

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.20%),

7.02%,

2/8/2030(a)(d)

1,035,000

1,110,831

Sumitomo

Mitsui

Trust

Bank

Ltd.

,

5.20%,

3/7/2027(a)

675,000

681,834

Swedbank

AB

,

6.14%,

9/12/2026(a)(c)

510,000

521,120

5.41%,

3/14/2029(a)(c)

725,000

737,712

Truist

Financial

Corp.

,

(SOFR

+

2.45%),

7.16%,

10/30/2029(d)

590,000

635,514

UniCredit

SpA

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.30%),

2.57%,

9/22/2026(a)(d)

1,090,000

1,054,207

US

Bancorp

,

(SOFR

+

1.25%),

5.10%,

7/23/2030(d)

1,010,000

1,018,947

Westpac

Banking

Corp.

,

5.05%,

4/16/2029(c)

1,245,000

1,270,789

38,271,529

42

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Core

Bond

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Beverages

0

.2

%

Coca-Cola

Co.

(The)

,

5.30%,

5/13/2054(c)

620,000

630,896

Suntory

Holdings

Ltd.

,

5.12%,

6/11/2029(a)(c)

400,000

407,487

1,038,383

Capital

Markets

4

.5

%

Antares

Holdings

LP

,

3.75%,

7/15/2027(a)

905,000

841,519

Apollo

Debt

Solutions

BDC

,

6.70%,

7/29/2031(a)

855,000

865,066

Ares

Capital

Corp.

,

7.00%,

1/15/2027(c)

450,000

464,417

5.95%,

7/15/2029

410,000

411,300

Ares

Finance

Co.

IV

LLC

,

3.65%,

2/1/2052(a)

300,000

215,225

Ares

Strategic

Income

Fund

,

6.35%,

8/15/2029(a)

590,000

594,734

Bain

Capital

Specialty

Finance,

Inc.

,

2.55%,

10/13/2026

615,000

571,842

Bank

of

New

York

Mellon

Corp.

(The)

,

(SOFR

+

1.03%),

4.95%,

4/26/2027(d)

805,000

806,616

(SOFR

+

1.23%),

5.06%,

7/22/2032(d)

1,395,000

1,412,457

BlackRock

Funding,

Inc.

,

5.35%,

1/8/2055

925,000

927,243

Blackstone

Secured

Lending

Fund

,

5.88%,

11/15/2027

410,000

413,061

Blue

Owl

Capital

Corp.

,

3.75%,

7/22/2025

120,000

117,694

4.25%,

1/15/2026

385,000

377,507

Blue

Owl

Capital

Corp.

II

,

8.45%,

11/15/2026(a)

305,000

318,207

Blue

Owl

Credit

Income

Corp.

,

7.95%,

6/13/2028

560,000

592,486

6.60%,

9/15/2029(a)

240,000

242,058

Blue

Owl

Technology

Finance

Corp.

,

4.75%,

12/15/2025(a)

625,000

609,472

Blue

Owl

Technology

Finance

Corp.

II

,

6.75%,

4/4/2029(a)

1,010,000

1,005,403

Brookfield

Finance,

Inc.

,

5.68%,

1/15/2035

955,000

971,112

Cantor

Fitzgerald

LP

,

7.20%,

12/12/2028(a)

445,000

468,207

Deutsche

Bank

AG

,

5.41%,

5/10/2029

445,000

453,920

FS

KKR

Capital

Corp.

,

7.88%,

1/15/2029

345,000

363,043

6.88%,

8/15/2029(c)

950,000

962,665

Goldman

Sachs

Bank

USA

,

(SOFR

+

0.75%),

5.41%,

5/21/2027(d)

1,055,000

1,062,448

Goldman

Sachs

BDC,

Inc.

,

6.38%,

3/11/2027

115,000

117,566

Corporate

Bonds

Principal

Amount

($)

Value

($)

Capital

Markets

Goldman

Sachs

Group,

Inc.

(The)

,

(SOFR

+

1.08%),

5.80%,

8/10/2026(d)

1,300,000

1,306,269

(SOFR

+

1.21%),

5.05%,

7/23/2030(d)

1,765,000

1,773,669

Golub

Capital

BDC,

Inc.

,

2.50%,

8/24/2026(c)

695,000

648,816

6.00%,

7/15/2029(c)

195,000

194,684

Hercules

Capital,

Inc.

,

3.38%,

1/20/2027

820,000

770,545

HPS

Corporate

Lending

Fund

,

6.25%,

9/30/2029(a)

760,000

764,873

Jefferies

Financial

Group,

Inc.

,

5.88%,

7/21/2028

670,000

688,560

6.20%,

4/14/2034

550,000

570,791

Lehman

Brothers

Holdings,

Inc.

,

5.63%,

1/24/2013(e)

4,000,000

2,000

Main

Street

Capital

Corp.

,

3.00%,

7/14/2026

345,000

326,295

6.50%,

6/4/2027

585,000

593,263

Moody's

Corp.

,

5.00%,

8/5/2034

270,000

270,113

Morgan

Stanley

,

(SOFR

+

1.56%),

5.32%,

7/19/2035(c)(d)

945,000

952,788

New

Mountain

Finance

Corp.

,

6.88%,

2/1/2029

245,000

244,879

Nomura

Holdings,

Inc.

,

5.78%,

7/3/2034(c)

410,000

421,462

Oaktree

Strategic

Credit

Fund

,

6.50%,

7/23/2029(a)

375,000

376,641

Sixth

Street

Lending

Partners

,

6.50%,

3/11/2029(a)

575,000

583,064

Sixth

Street

Specialty

Lending,

Inc.

,

6.13%,

3/1/2029

415,000

418,473

UBS

AG

,

5.00%,

7/9/2027

415,000

417,118

26,509,571

Chemicals

0

.4

%

Cabot

Corp.

,

4.00%,

7/1/2029

415,000

399,616

LYB

International

Finance

III

LLC

,

5.50%,

3/1/2034(c)

1,145,000

1,160,601

Solvay

Finance

America

LLC

,

5.85%,

6/4/2034(a)

515,000

528,340

2,088,557

Commercial

Services

&

Supplies

0

.1

%

Element

Fleet

Management

Corp.

,

3.85%,

6/15/2025(a)

815,000

803,441

6.32%,

12/4/2028(a)

35,000

36,719

840,160

Nationwide

Loomis

Core

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

43

Corporate

Bonds

Principal

Amount

($)

Value

($)

Consumer

Finance

1

.7

%

American

Express

Co.

,

(SOFR

+

1.09%),

5.53%,

4/25/2030(c)(d)

550,000

566,310

American

Honda

Finance

Corp.

,

5.05%,

7/10/2031

1,355,000

1,372,090

Capital

One

Financial

Corp.

,

(SOFR

+

2.44%),

7.15%,

10/29/2027(d)

685,000

714,210

(SOFR

+

2.64%),

6.31%,

6/8/2029(c)(d)

180,000

186,688

General

Motors

Financial

Co.,

Inc.

,

6.05%,

10/10/2025(c)

520,000

525,095

Harley-Davidson

Financial

Services,

Inc.

,

3.35%,

6/8/2025(a)(c)

105,000

102,908

6.50%,

3/10/2028(a)

245,000

253,275

5.95%,

6/11/2029(a)

260,000

264,045

Hyundai

Capital

Services,

Inc.

,

2.13%,

4/24/2025(a)

410,000

400,765

John

Deere

Capital

Corp.

,

4.90%,

3/7/2031

810,000

822,770

Series

MTN1,

5.05%,

6/12/2034(c)

715,000

726,920

LeasePlan

Corp.

NV

,

2.88%,

10/24/2024(a)

780,000

774,599

Mitsubishi

HC

Finance

America

LLC

,

5.15%,

10/24/2029(a)

1,430,000

1,439,934

Synchrony

Financial

,

4.88%,

6/13/2025

165,000

163,705

(United

States

SOFR

Compounded

Index

+

2.13%),

5.94%,

8/2/2030(d)

545,000

548,359

Toyota

Motor

Credit

Corp.

,

5.05%,

5/16/2029

1,240,000

1,266,705

10,128,378

Containers

&

Packaging

0

.4

%

Amcor

Flexibles

North

America,

Inc.

,

4.00%,

5/17/2025

545,000

538,617

Amcor

Group

Finance

plc

,

5.45%,

5/23/2029

1,770,000

1,804,793

2,343,410

Distributors

0

.1

%

LKQ

Corp.

,

5.75%,

6/15/2028(c)

510,000

521,842

Diversified

REITs

0

.2

%

GLP

Capital

LP

,

5.63%,

9/15/2034

1,460,000

1,453,652

Diversified

Telecommunication

Services

0

.1

%

Verizon

Communications,

Inc.

,

5.50%,

2/23/2054

640,000

641,691

Electric

Utilities

1

.4

%

Alliant

Energy

Finance

LLC

,

5.40%,

6/6/2027(a)

525,000

532,263

Corporate

Bonds

Principal

Amount

($)

Value

($)

Electric

Utilities

American

Electric

Power

Co.,

Inc.

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.68%),

3.88%,

2/15/2062(d)

765,000

711,941

Duke

Energy

Corp.

,

5.80%,

6/15/2054

630,000

630,277

Edison

International

,

4.70%,

8/15/2025

1,080,000

1,073,320

Electricite

de

France

SA

,

5.95%,

4/22/2034(a)(c)

1,245,000

1,294,987

Entergy

Corp.

,

0.90%,

9/15/2025(c)

555,000

530,513

Eversource

Energy

,

5.95%,

2/1/2029(c)

380,000

395,454

Florida

Power

&

Light

Co.

,

5.60%,

6/15/2054

630,000

655,838

New

England

Power

Co.

,

2.81%,

10/6/2050(a)

1,000,000

622,843

Southern

Co.

(The)

,

5.50%,

3/15/2029

575,000

593,181

Vistra

Operations

Co.

LLC

,

5.13%,

5/13/2025(a)

1,165,000

1,159,150

8,199,767

Electronic

Equipment,

Instruments

&

Components

0

.5

%

Arrow

Electronics,

Inc.

,

5.88%,

4/10/2034(c)

410,000

414,365

CDW

LLC

,

3.28%,

12/1/2028

665,000

615,058

Flex

Ltd.

,

6.00%,

1/15/2028(c)

585,000

601,929

Tyco

Electronics

Group

SA

,

4.63%,

2/1/2030

1,040,000

1,042,588

2,673,940

Entertainment

0

.2

%

Netflix,

Inc.

,

5.40%,

8/15/2054

275,000

277,669

Take-Two

Interactive

Software,

Inc.

,

4.95%,

3/28/2028

685,000

688,450

966,119

Financial

Services

2

.4

%

Apollo

Global

Management,

Inc.

,

5.80%,

5/21/2054

120,000

120,915

Enact

Holdings,

Inc.

,

6.25%,

5/28/2029

1,050,000

1,068,863

Essent

Group

Ltd.

,

6.25%,

7/1/2029(c)

1,010,000

1,031,048

Global

Payments,

Inc.

,

1.50%,

11/15/2024

860,000

849,541

JPMorgan

Chase

Bank

NA

,

5.11%,

12/8/2026(c)

2,380,000

2,400,962

National

Rural

Utilities

Cooperative

Finance

Corp.

,

5.15%,

6/15/2029

1,185,000

1,211,320

44

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Core

Bond

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Financial

Services

Nationwide

Building

Society

,

(SOFR

+

1.91%),

6.56%,

10/18/2027(a)(d)

580,000

597,520

5.13%,

7/29/2029(a)

1,175,000

1,188,222

NMI

Holdings,

Inc.

,

6.00%,

8/15/2029(c)

500,000

503,474

NTT

Finance

Corp.

,

5.11%,

7/2/2029(a)(c)

2,010,000

2,041,688

ORIX

Corp.

,

3.25%,

12/4/2024(c)

635,000

629,845

PayPal

Holdings,

Inc.

,

5.15%,

6/1/2034

940,000

950,042

Radian

Group,

Inc.

,

6.20%,

5/15/2029(c)

660,000

681,124

Synchrony

Bank

,

5.40%,

8/22/2025

890,000

887,725

Western

Union

Co.

(The)

,

1.35%,

3/15/2026

235,000

221,340

14,383,629

Gas

Utilities

0

.2

%

Brooklyn

Union

Gas

Co.

(The)

,

6.42%,

7/18/2054(a)(c)

910,000

932,037

Southwest

Gas

Corp.

,

3.18%,

8/15/2051

780,000

507,862

1,439,899

Ground

Transportation

0

.3

%

Penske

Truck

Leasing

Co.

LP

,

4.00%,

7/15/2025(a)

400,000

394,616

5.25%,

7/1/2029(a)

765,000

774,312

Ryder

System,

Inc.

,

4.95%,

9/1/2029

565,000

566,024

1,734,952

Health

Care

Equipment

&

Supplies

0

.2

%

GE

HealthCare

Technologies,

Inc.

,

5.55%,

11/15/2024(c)

1,050,000

1,049,575

Health

Care

Providers

&

Services

0

.6

%

CVS

Health

Corp.

,

5.70%,

6/1/2034(c)

455,000

464,270

Health

Care

Service

Corp.

,

5.88%,

6/15/2054(a)

440,000

442,825

McKesson

Corp.

,

1.30%,

8/15/2026

265,000

247,417

UnitedHealth

Group,

Inc.

,

5.38%,

4/15/2054(c)

625,000

620,199

5.63%,

7/15/2054(c)

1,420,000

1,455,948

3,230,659

Health

Care

REITs

0

.1

%

Omega

Healthcare

Investors,

Inc.

,

4.50%,

1/15/2025

405,000

402,681

Health

Care

Technology

0

.1

%

IQVIA,

Inc.

,

5.70%,

5/15/2028

430,000

439,787

Corporate

Bonds

Principal

Amount

($)

Value

($)

Hotels,

Restaurants

&

Leisure

0

.2

%

Expedia

Group,

Inc.

,

6.25%,

5/1/2025(a)

319,000

319,974

Hyatt

Hotels

Corp.

,

5.75%,

1/30/2027

380,000

386,538

5.25%,

6/30/2029(c)

705,000

712,057

1,418,569

Household

Durables

0

.2

%

MDC

Holdings,

Inc.

,

3.97%,

8/6/2061

600,000

515,629

Whirlpool

Corp.

,

5.75%,

3/1/2034

415,000

418,671

934,300

Independent

Power

and

Renewable

Electricity

Producers

0

.1

%

AES

Corp.

(The)

,

3.30%,

7/15/2025(a)(c)

795,000

777,888

Industrial

Conglomerates

0

.3

%

Honeywell

International,

Inc.

,

5.00%,

3/1/2035

1,940,000

1,963,688

Industrial

REITs

0

.2

%

Prologis

LP

,

5.00%,

1/31/2035

970,000

969,643

Insurance

4

.2

%

Allstate

Corp.

(The)

,

5.05%,

6/24/2029(c)

340,000

344,635

Arthur

J

Gallagher

&

Co.

,

3.05%,

3/9/2052

1,010,000

637,545

Athene

Global

Funding

,

5.35%,

7/9/2027(a)

1,610,000

1,624,215

2.50%,

3/24/2028(a)

420,000

382,675

Brighthouse

Financial

Global

Funding

,

1.75%,

1/13/2025(a)

955,000

938,036

5.55%,

4/9/2027(a)

1,005,000

1,012,377

Chubb

INA

Holdings

LLC

,

4.65%,

8/15/2029

1,465,000

1,470,099

CNO

Global

Funding

,

2.65%,

1/6/2029(a)

990,000

885,525

Corebridge

Global

Funding

,

0.90%,

9/22/2025(a)

1,010,000

962,891

5.20%,

6/24/2029(a)(c)

800,000

814,281

Equitable

Financial

Life

Global

Funding

,

5.50%,

12/2/2025(a)

955,000

960,177

F&G

Global

Funding

,

5.15%,

7/7/2025(a)

880,000

876,321

5.88%,

6/10/2027(a)(c)

555,000

560,689

GA

Global

Funding

Trust

,

2.25%,

1/6/2027(a)

1,135,000

1,063,011

Hill

City

Funding

Trust

,

4.05%,

8/15/2041(a)

670,000

519,506

Jackson

National

Life

Global

Funding

,

1.75%,

1/12/2025(a)

560,000

550,407

3.88%,

6/11/2025(a)

195,000

192,315

Markel

Group,

Inc.

,

6.00%,

5/16/2054

745,000

755,376

Nationwide

Loomis

Core

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

45

Corporate

Bonds

Principal

Amount

($)

Value

($)

Insurance

MetLife,

Inc.

,

5.30%,

12/15/2034(c)

1,770,000

1,812,262

New

York

Life

Global

Funding

,

5.00%,

6/6/2029(a)

955,000

973,438

Nippon

Life

Insurance

Co.

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.59%),

5.95%,

4/16/2054(a)(d)

1,265,000

1,282,364

Northwestern

Mutual

Global

Funding

,

4.90%,

6/12/2028(a)

1,095,000

1,104,709

Protective

Life

Global

Funding

,

5.22%,

6/12/2029(a)

510,000

518,623

Reinsurance

Group

of

America,

Inc.

,

5.75%,

9/15/2034

820,000

838,779

Reliance

Standard

Life

Global

Funding

II

,

2.75%,

5/7/2025(a)

1,270,000

1,243,269

RGA

Global

Funding

,

2.70%,

1/18/2029(a)

380,000

348,365

5.45%,

5/24/2029(a)

290,000

296,912

SiriusPoint

Ltd.

,

7.00%,

4/5/2029(c)

690,000

720,424

Trustage

Financial

Group,

Inc.

,

4.63%,

4/15/2032(a)(c)

560,000

499,238

Unum

Group

,

6.00%,

6/15/2054

520,000

513,002

24,701,466

IT

Services

0

.2

%

DXC

Technology

Co.

,

2.38%,

9/15/2028(c)

1,160,000

1,030,407

Leisure

Products

0

.0

%

†

Hasbro,

Inc.

,

6.05%,

5/14/2034(c)

220,000

224,883

Machinery

0

.2

%

CNH

Industrial

Capital

LLC

,

3.95%,

5/23/2025(c)

575,000

568,265

Daimler

Truck

Finance

North

America

LLC

,

5.38%,

6/25/2034(a)

875,000

884,190

1,452,455

Media

0

.3

%

Charter

Communications

Operating

LLC

,

6.10%,

6/1/2029

1,745,000

1,783,821

Metals

&

Mining

0

.4

%

ArcelorMittal

SA

,

6.35%,

6/17/2054

1,270,000

1,267,794

Glencore

Funding

LLC

,

5.89%,

4/4/2054(a)

795,000

778,072

2,045,866

Corporate

Bonds

Principal

Amount

($)

Value

($)

Multi-Utilities

0

.6

%

Ameren

Corp.

,

5.00%,

1/15/2029(c)

310,000

311,873

Ameren

Illinois

Co.

,

5.55%,

7/1/2054

720,000

721,785

CenterPoint

Energy,

Inc.

,

5.40%,

6/1/2029(c)

615,000

627,412

DTE

Energy

Co.

,

4.95%,

7/1/2027

595,000

597,197

NiSource,

Inc.

,

5.20%,

7/1/2029(c)

840,000

852,851

Puget

Sound

Energy,

Inc.

,

5.69%,

6/15/2054(c)

380,000

388,576

3,499,694

Office

REITs

0

.1

%

Hudson

Pacific

Properties

LP

,

5.95%,

2/15/2028

570,000

514,195

Piedmont

Operating

Partnership

LP

,

3.15%,

8/15/2030

370,000

305,857

820,052

Oil,

Gas

&

Consumable

Fuels

0

.9

%

BP

Capital

Markets

America,

Inc.

,

5.23%,

11/17/2034

875,000

889,694

Kinder

Morgan,

Inc.

,

5.95%,

8/1/2054

925,000

927,836

Occidental

Petroleum

Corp.

,

6.05%,

10/1/2054(c)

1,425,000

1,432,643

Phillips

66

Co.

,

5.65%,

6/15/2054

770,000

757,933

Pioneer

Natural

Resources

Co.

,

5.10%,

3/29/2026

785,000

789,314

Whistler

Pipeline

LLC

,

5.95%,

9/30/2034(a)

335,000

339,877

5,137,297

Personal

Care

Products

0

.1

%

Estee

Lauder

Cos.,

Inc.

(The)

,

5.00%,

2/14/2034(c)

525,000

527,291

Pharmaceuticals

0

.3

%

Royalty

Pharma

plc

,

5.90%,

9/2/2054(c)

1,270,000

1,263,504

Takeda

Pharmaceutical

Co.

Ltd.

,

5.30%,

7/5/2034

720,000

729,707

1,993,211

Professional

Services

0

.1

%

Equifax,

Inc.

,

5.10%,

6/1/2028(c)

825,000

834,407

Retail

REITs

0

.1

%

Agree

LP

,

5.63%,

6/15/2034

330,000

335,055

Semiconductors

&

Semiconductor

Equipment

0

.5

%

Broadcom,

Inc.

,

5.05%,

7/12/2029

1,855,000

1,877,848

46

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Core

Bond

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Semiconductors

&

Semiconductor

Equipment

Micron

Technology,

Inc.

,

6.75%,

11/1/2029

445,000

480,112

Qorvo,

Inc.

,

1.75%,

12/15/2024

320,000

314,505

2,672,465

Specialty

Retail

0

.7

%

AutoNation,

Inc.

,

3.50%,

11/15/2024

800,000

793,711

4.50%,

10/1/2025

675,000

668,298

AutoZone,

Inc.

,

5.40%,

7/15/2034(c)

1,440,000

1,456,950

Dick's

Sporting

Goods,

Inc.

,

4.10%,

1/15/2052

710,000

514,096

Home

Depot,

Inc.

(The)

,

5.30%,

6/25/2054(c)

590,000

587,108

O'Reilly

Automotive,

Inc.

,

5.75%,

11/20/2026

315,000

321,193

4,341,356

Technology

Hardware,

Storage

&

Peripherals

0

.1

%

NetApp,

Inc.

,

1.88%,

6/22/2025(c)

535,000

518,628

Tobacco

0

.3

%

Imperial

Brands

Finance

plc

,

5.50%,

2/1/2030(a)

2,005,000

2,024,031

Trading

Companies

&

Distributors

0

.8

%

Air

Lease

Corp.

,

5.20%,

7/15/2031(c)

1,060,000

1,059,395

Aircastle

Ltd.

,

2.85%,

1/26/2028(a)

885,000

813,693

6.50%,

7/18/2028(a)(c)

155,000

160,506

5.95%,

2/15/2029(a)

285,000

290,362

Aviation

Capital

Group

LLC

,

5.38%,

7/15/2029(a)

1,100,000

1,104,461

GATX

Corp.

,

5.40%,

3/15/2027

325,000

329,034

Mitsubishi

Corp.

,

5.00%,

7/2/2029(a)

1,170,000

1,191,792

4,949,243

Wireless

Telecommunication

Services

0

.1

%

Vodafone

Group

plc

,

5.75%,

6/28/2054(c)

715,000

709,590

Total

Corporate

Bonds

(cost

$193,388,812)

189,346,963

Mortgage-Backed

Securities

17

.3

%

FHLMC

UMBS

Pool

Pool#

SD8199

2.00%,

3/1/2052

1,233,520

992,562

Pool#

SD8200

2.50%,

3/1/2052

1,963,660

1,659,990

Pool#

SD8205

2.50%,

4/1/2052

17,890,937

15,114,901

Pool#

QE0012

2.50%,

4/1/2052

1,672,172

1,411,927

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

UMBS

Pool

Pool#

QE0764

3.00%,

4/1/2052

4,985,113

4,353,545

Pool#

QE2352

2.50%,

5/1/2052

1,283,536

1,082,348

Pool#

SD8219

2.50%,

6/1/2052

1,037,744

871,894

Pool#

QE4044

2.50%,

6/1/2052

571,455

481,503

Pool#

SD2088

3.50%,

6/1/2052

9,603,104

8,713,597

Pool#

SD8234

2.50%,

8/1/2052

5,397,476

4,554,402

Pool#

SD8271

2.50%,

10/1/2052

918,031

769,560

Pool#

QF1212

4.00%,

10/1/2052

4,197,264

3,938,200

FNMA

Pool

Pool#

BS6952

5.34%,

10/1/2032

1,152,937

1,215,194

Pool#

AN8477

3.40%,

2/1/2033

1,958,652

1,815,606

Pool#

AN9700

3.67%,

7/1/2033

5,000,000

4,696,642

Pool#

BF0673

2.50%,

6/1/2062

3,200,042

2,584,494

FNMA

UMBS

Pool

Pool#

MA3209

3.00%,

12/1/2047

1,255,023

1,119,565

Pool#

MA3275

3.00%,

2/1/2048

1,101,834

982,220

Pool#

MA4562

2.00%,

3/1/2052

2,024,355

1,629,381

Pool#

CB3496

3.00%,

5/1/2052

5,204,514

4,551,475

Pool#

MA4623

2.50%,

6/1/2052

583,138

489,700

Pool#

BU8730

2.50%,

6/1/2052

333,451

281,570

Pool#

MA4624

3.00%,

6/1/2052

1,079,805

942,133

Pool#

FS5493

2.50%,

7/1/2052

3,917,571

3,311,069

Pool#

MA4652

2.50%,

7/1/2052

378,616

319,355

Pool#

MA4653

3.00%,

7/1/2052

5,013,177

4,381,641

Pool#

MA4743

2.50%,

8/1/2052

360,725

304,240

Pool#

FS3497

3.50%,

8/1/2052

4,854,654

4,410,791

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

Conventional

Pool

TBA

5.50%,

9/25/2054

4,100,000

4,107,081

6.00%,

9/25/2054

5,500,000

5,577,348

GNMA

I

Pool

Pool#

442138

8.00%,

11/15/2026

4,707

4,750

Pool#

399109

7.50%,

2/15/2027

2,078

2,080

Pool#

445661

7.50%,

7/15/2027

1,342

1,345

Nationwide

Loomis

Core

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

47

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

GNMA

I

Pool

Pool#

443887

7.50%,

8/15/2027

2,313

2,319

Pool#

455381

7.50%,

8/15/2027

1,236

1,238

Pool#

450591

7.50%,

8/15/2027

146

146

Pool#

453295

7.50%,

8/15/2027

67

67

Pool#

446699

6.00%,

8/15/2028

3,321

3,362

Pool#

482748

6.00%,

9/15/2028

17,658

17,839

Pool#

781029

6.50%,

5/15/2029

24,603

25,248

GNMA

II

Pool

Pool#

MA8043

3.00%,

5/20/2052

5,047,255

4,503,453

Pool#

MA8098

3.00%,

6/20/2052

4,799,467

4,282,363

Pool#

MA8192

4.00%,

8/20/2052

2,013,911

1,866,885

Pool#

MA8260

4.00%,

9/20/2052

906,675

840,401

Pool#

MA8261

4.50%,

9/20/2052

668,632

638,505

Pool#

MA8418

4.50%,

11/20/2052

454,629

434,144

Pool#

MA8801

5.50%,

4/20/2053

2,939,785

2,949,090

Total

Mortgage-Backed

Securities

(cost

$104,000,006)

102,237,169

U.S.

Treasury

Obligations

30

.5

%

U.S.

Treasury

Bonds

3.38%,

8/15/2042

1,495,000

1,303,804

3.88%,

2/15/2043

2,670,000

2,488,836

3.88%,

5/15/2043

5,420,000

5,043,988

4.38%,

8/15/2043

10,030,000

9,981,025

4.75%,

11/15/2043

9,430,000

9,848,456

4.50%,

2/15/2044

13,030,000

13,160,300

4.63%,

5/15/2044

(c)

3,040,000

3,122,175

2.25%,

8/15/2049

9,000,000

6,014,883

4.25%,

2/15/2054

(c)

4,595,000

4,518,895

U.S.

Treasury

Notes

4.25%,

1/31/2026

(c)

12,395,000

12,354,813

4.63%,

2/28/2026

4,975,000

4,987,826

4.88%,

4/30/2026

15,460,000

15,588,632

4.88%,

10/31/2028

28,190,000

29,179,954

4.25%,

2/28/2029

3,775,000

3,824,399

4.13%,

3/31/2029

10,905,000

10,987,639

4.63%,

4/30/2029

25,285,000

26,027,747

4.25%,

6/30/2029

11,615,000

11,775,614

4.00%,

2/15/2034

7,535,000

7,503,212

4.38%,

5/15/2034

2,150,000

2,205,094

Total

U.S.

Treasury

Obligations

(cost

$179,483,858)

179,917,292

Short-Term

Investment

0

.1

%

Principal

Amount

($)

Value

($)

U.S.

Treasury

Obligation

0

.1

%

U.S.

Treasury

Bills,

5.32%,

9/17/2024(f)

500,000

496,559

Total

Short-Term

Investment

(cost

$496,584)

496,559

Repurchase

Agreements

3

.5

%

CF

Secured,

LLC

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$12,528,883,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$12,779,464.

(g)

12,527,024

12,527,024

HSBC

Securities,

Inc.

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$4,000,592,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$4,080,603.

(g)

4,000,000

4,000,000

Societe

Generale

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$4,000,593,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$4,080,002.

(g)

4,000,000

4,000,000

Total

Repurchase

Agreements

(cost

$20,527,024)

20,527,024

Total

Investments

(cost

$607,401,377)

—

101.6%

599,434,248

Liabilities

in

excess

of

other

assets

—

(1.6)%

(

9,433,627

)

NET

ASSETS

—

100.0%

$

590,000,621

48

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Core

Bond

Fund

†

Amount

rounds

to

less

than

0.1%.

(a)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$116,936,868

which

represents

19.82%

of

net

assets.

(b)

Variable

or

floating

rate

security,

the

interest

rate

of

which

adjusts

periodically

based

on

changes

in

current

interest

rates

and

prepayments

on

the

underlying

pool

of

assets.  The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(c)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$38,927,595,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$20,527,024

and

by

$19,403,118

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

5.35%,

and

maturity

dates

ranging

from

8/8/2024

–

11/15/2053,

a

total

value

of

$39,930,142.

(d)

Variable

or

floating

rate

security,

linked

to

the

referenced

benchmark.

The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(e)

Security

in

default.

(f)

Security

or

a

portion

of

the

security

was

used

to

cover

the

margin

requirement

for

futures

contracts.

(g)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$20,527,024.

ACES

Alternative

Credit

Enhancement

Services

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

GNMA

Government

National

Mortgage

Association

IO

Interest

only

REIT

Real

Estate

Investment

Trust

REMICS

Real

Estate

Mortgage

Investment

Conduits

SOFR

Secured

Overnight

Financing

Rate

TBA

To

Be

Announced;

Security

is

subject

to

delayed

delivery

UMBS

Uniform

Mortgage-Backed

Securities

Currency:

USD

United

States

Dollar

Nationwide

Loomis

Core

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

49

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

U.S.

Treasury

5

Year

Note

30

9/2024

USD

3,236,719

62,756

U.S.

Treasury

10

Year

Ultra

Note

20

9/2024

USD

2,311,562

74,023

U.S.

Treasury

Long

Bond

111

9/2024

USD

13,406,719

445,159

U.S.

Treasury

Ultra

Bond

101

9/2024

USD

12,924,844

435,252

Net

contracts

1,017,190

As

of

July

31,

2024,

the

Fund

had

$1,445,000

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

50

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Core

Bond

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Nationwide

Loomis

Core

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

51

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

financial

futures

contracts.

(a)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Asset-Backed

Securities

$

–

$

56,018,536

$

–

$

56,018,536

Collateralized

Mortgage

Obligations

–

23,684,144

–

23,684,144

Commercial

Mortgage-Backed

Securities

–

27,206,561

–

27,206,561

Corporate

Bonds

–

189,346,963

–

189,346,963

Futures

Contracts

1,017,190

–

–

1,017,190

Mortgage-Backed

Securities

–

102,237,169

–

102,237,169

Repurchase

Agreements

–

20,527,024

–

20,527,024

Short-Term

Investment

–

496,559

–

496,559

U.S.

Treasury

Obligations

–

179,917,292

–

179,917,292

Total

$

1,017,190

$

599,434,248

$

–

$

600,451,438

52

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Core

Bond

Fund

Assets:

Fair

Value

Futures

Contracts

Interest

rate

risk

Unrealized

appreciation

from

futures

contracts

$

1,017,190

Total

$

1,017,190

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Loomis

Short

Term

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

53

Asset-Backed

Securities

30.7%

Principal

Amount

($)

Value

($)

Automobiles

14.0%

Ally

Auto

Receivables

Trust

Series

2022-3,

Class

A3,

5.07%,

4/15/2027

116,595

116,392

Series

2023-1,

Class

A3,

5.46%,

5/15/2028

215,000

216,125

American

Credit

Acceptance

Receivables

Trust

Series

2023-4,

Class

B,

6.63%,

2/14/2028(a)

205,000

207,084

Series

2022-4,

Class

C,

7.86%,

2/15/2029(a)

58,502

58,892

Series

2023-3,

Class

C,

6.44%,

10/12/2029(a)

345,000

348,152

AmeriCredit

Automobile

Receivables

Trust

Series

2021-3,

Class

C,

1.41%,

8/18/2027

265,000

251,100

Series

2022-2,

Class

A3,

4.38%,

4/18/2028

146,490

145,672

Avid

Automobile

Receivables

Trust,

Series

2023-1,

Class

A,

6.63%,

7/15/2026(a)

59,364

59,376

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2024-1A,

Class

A,

5.36%,

6/20/2030(a)

350,000

355,292

BMW

Vehicle

Lease

Trust,

Series

2023-1,

Class

A3,

5.16%,

11/25/2025

62,879

62,814

BMW

Vehicle

Owner

Trust,

Series

2023-A,

Class

A3,

5.47%,

2/25/2028

145,000

145,973

Bridgecrest

Lending

Auto

Securitization

Trust,

Series

2023-1,

Class

A3,

6.51%,

11/15/2027

300,000

301,978

Capital

One

Prime

Auto

Receivables

Trust,

Series

2023-1,

Class

A3,

4.87%,

2/15/2028

450,000

449,080

Carmax

Auto

Owner

Trust

Series

2021-1,

Class

A3,

0.34%,

12/15/2025

9,405

9,369

Series

2023-2,

Class

A3,

5.05%,

1/18/2028

525,000

524,954

Carvana

Auto

Receivables

Trust,

Series

2023-

P1,

Class

A3,

5.98%,

12/10/2027(a)

25,000

25,100

Chesapeake

Funding

II

LLC,

Series

2023-1A,

Class

A1,

5.65%,

5/15/2035(a)

308,661

310,061

Citizens

Auto

Receivables

Trust,

Series

2024-1,

Class

A3,

5.11%,

4/17/2028(a)

120,000

120,276

Credit

Acceptance

Auto

Loan

Trust,

Series

2023-

2A,

Class

B,

6.61%,

7/15/2033(a)

130,000

132,436

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Automobiles

DT

Auto

Owner

Trust

Series

2022-3A,

Class

B,

6.74%,

7/17/2028(a)

160,000

160,588

Series

2023-2A,

Class

B,

5.41%,

2/15/2029(a)

260,000

259,271

Enterprise

Fleet

Financing

LLC

Series

2022-3,

Class

A2,

4.38%,

7/20/2029(a)

75,039

74,477

Series

2024-1,

Class

A2,

5.23%,

3/20/2030(a)

210,000

210,524

Exeter

Automobile

Receivables

Trust

Series

2023-5A,

Class

A3,

6.32%,

3/15/2027

45,000

45,154

Series

2023-1A,

Class

B,

5.72%,

4/15/2027

294,807

294,726

Fifth

Third

Auto

Trust,

Series

2023-1,

Class

A3,

5.53%,

8/15/2028

435,000

438,186

First

Investors

Auto

Owner

Trust,

Series

2022-

1A,

Class

C,

3.13%,

5/15/2028(a)

350,000

339,174

Flagship

Credit

Auto

Trust

Series

2021-2,

Class

B,

0.93%,

6/15/2027(a)

296

296

Series

2023-1,

Class

A3,

5.01%,

8/16/2027(a)

215,000

214,136

Ford

Credit

Auto

Owner

Trust,

Series

2023-A,

Class

A3,

4.65%,

2/15/2028

200,000

199,240

Foursight

Capital

Automobile

Receivables

Trust,

Series

2022-1,

Class

A3,

1.83%,

12/15/2026(a)

51,061

50,719

GECU

Auto

Receivables

Trust,

Series

2023-

1A,

Class

A3,

5.63%,

8/15/2028(a)

310,000

312,156

GM

Financial

Consumer

Automobile

Receivables

Trust

Series

2023-1,

Class

A3,

4.66%,

2/16/2028

90,000

89,612

Series

2023-3,

Class

A3,

5.45%,

6/16/2028

160,000

161,252

Harley-Davidson

Motorcycle

Trust,

Series

2023-B,

Class

A4,

5.78%,

4/15/2031

170,000

173,610

Hertz

Vehicle

Financing

III

LLC,

Series

2023-3A,

Class

A,

5.94%,

2/25/2028(a)

295,000

298,974

Honda

Auto

Receivables

Owner

Trust

Series

2023-1,

Class

A3,

5.04%,

4/21/2027

190,000

189,864

Series

2023-3,

Class

A3,

5.41%,

2/18/2028

430,000

432,837

54

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Short

Term

Bond

Fund

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Automobiles

Hyundai

Auto

Lease

Securitization

Trust,

Series

2024-A,

Class

A4,

5.07%,

2/15/2028(a)

140,000

140,501

Hyundai

Auto

Receivables

Trust,

Series

2023-B,

Class

A3,

5.48%,

4/17/2028

145,000

146,033

LAD

Auto

Receivables

Trust,

Series

2023-4A,

Class

B,

6.39%,

10/16/2028(a)

90,000

91,988

Merchants

Fleet

Funding

LLC,

Series

2023-1A,

Class

A,

7.21%,

5/20/2036(a)

520,198

525,654

Nissan

Auto

Lease

Trust,

Series

2023-B,

Class

A3,

5.69%,

7/15/2026

330,000

330,716

PenFed

Auto

Receivables

Owner

Trust,

Series

2022-A,

Class

A4,

4.18%,

12/15/2028(a)

120,000

118,866

Prestige

Auto

Receivables

Trust

Series

2021-1A,

Class

C,

1.53%,

2/15/2028(a)

215,000

209,584

Series

2023-1A,

Class

C,

5.65%,

2/15/2028(a)

500,000

499,772

Santander

Drive

Auto

Receivables

Trust

Series

2023-5,

Class

B,

6.16%,

12/17/2029

460,000

470,838

Series

2023-1,

Class

C,

5.09%,

5/15/2030

115,000

114,870

Series

2023-3,

Class

C,

5.77%,

11/15/2030

135,000

137,241

SBNA

Auto

Lease

Trust,

Series

2024-A,

Class

A3,

5.39%,

11/20/2026(a)

175,000

175,444

SFS

Auto

Receivables

Securitization

Trust,

Series

2023-1A,

Class

A3,

5.47%,

10/20/2028(a)

530,000

533,463

Toyota

Auto

Receivables

Owner

Trust,

Series

2023-C,

Class

A3,

5.16%,

4/17/2028

150,000

150,451

Toyota

Lease

Owner

Trust,

Series

2023-A,

Class

A3,

4.93%,

4/20/2026(a)

430,000

428,969

United

Auto

Credit

Securitization

Trust,

Series

2022-2,

Class

C,

5.81%,

5/10/2027(a)

206,678

206,432

VStrong

Auto

Receivables

Trust,

Series

2023-A,

Class

A3,

6.87%,

11/15/2027(a)

670,000

677,420

Westlake

Automobile

Receivables

Trust,

Series

2023-3A,

Class

C,

6.02%,

9/15/2028(a)

560,000

566,143

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Automobiles

Wheels

Fleet

Lease

Funding

1

LLC,

Series

2023-1A,

Class

A,

5.80%,

4/18/2038(a)

610,640

611,433

World

Omni

Select

Auto

Trust,

Series

2021-A,

Class

B,

0.85%,

8/16/2027

190,000

185,653

14,106,393

Consumer

Finance

1.4%

Bridgecrest

Lending

Auto

Securitization

Trust,

Series

2024-2,

Class

A3,

5.84%,

6/15/2028

300,000

301,957

Carvana

Auto

Receivables

Trust,

Series

2024-P2,

Class

A3,

5.33%,

7/10/2029

155,000

156,646

Chesapeake

Funding

II

LLC,

Series

2024-1A,

Class

A1,

5.52%,

5/15/2036(a)

147,479

148,219

GM

Financial

Automobile

Leasing

Trust,

Series

2024-1,

Class

A3,

5.09%,

3/22/2027

265,000

265,395

NextGear

Floorplan

Master

Owner

Trust,

Series

2024-

1A,

Class

A2,

5.12%,

3/15/2029(a)

210,000

211,512

Santander

Drive

Auto

Receivables

Trust,

Series

2024-3,

Class

A3,

5.63%,

1/16/2029

285,000

287,481

1,371,210

Credit

Card

0.2%

Mission

Lane

Credit

Card

Master

Trust,

Series

2023-A,

Class

A,

7.23%,

7/17/2028(a)

105,000

105,892

Synchrony

Card

Funding

LLC,

Series

2023-A1,

Class

A,

5.54%,

7/15/2029

125,000

126,683

232,575

Equipment

Loans

&

Leases

3.0%

Auxilior

Term

Funding

LLC,

Series

2023-1A,

Class

A2,

6.18%,

12/15/2028(a)

115,786

116,597

CCG

Receivables

Trust,

Series

2023-1,

Class

A2,

5.82%,

9/16/2030(a)

180,222

180,971

DLLMT

LLC,

Series

2023-

1A,

Class

A3,

5.34%,

3/22/2027(a)

840,000

840,611

GreatAmerica

Leasing

Receivables

Funding

LLC,

Series

2023-1,

Class

A3,

5.15%,

7/15/2027(a)

740,000

741,423

John

Deere

Owner

Trust,

Series

2023-A,

Class

A3,

5.01%,

11/15/2027

145,000

144,92

4

Nationwide

Loomis

Short

Term

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

55

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Equipment

Loans

&

Leases

Kubota

Credit

Owner

Trust,

Series

2023-1A,

Class

A2,

5.40%,

2/17/2026(a)

130,636

130,562

M&T

Equipment

Notes,

Series

2023-1A,

Class

A3,

5.74%,

7/15/2030(a)

270,000

271,695

SCF

Equipment

Leasing

LLC

Series

2022-1A,

Class

A3,

2.92%,

7/20/2029(a)

258,210

255,007

Series

2023-1A,

Class

A2,

6.56%,

1/22/2030(a)

309,815

312,692

2,994,482

Financial

Services

10.0%

ACHV

ABS

TRUST,

Series

2024-1PL,

Class

A,

5.90%,

4/25/2031(a)

66,584

66,922

Affirm

Asset

Securitization

Trust

Series

2024-A,

Class

1A,

5.61%,

2/15/2029(a)

545,000

548,387

Series

2024-X1,

Class

A,

6.27%,

5/15/2029(a)

96,218

96,401

American

Credit

Acceptance

Receivables

Trust,

Series

2024-3,

Class

A,

5.76%,

11/12/2027(a)

120,000

120,131

AmeriCredit

Automobile

Receivables

Trust,

Series

2024-1,

Class

A3,

5.43%,

1/18/2029

305,000

307,512

ARI

Fleet

Lease

Trust,

Series

2024-A,

Class

A2,

5.30%,

11/15/2032(a)

100,000

100,029

BHG

Securitization

Trust,

Series

2024-1CON,

Class

A,

5.81%,

4/17/2035(a)

114,318

115,733

BMW

Vehicle

Owner

Trust,

Series

2024-A,

Class

A3,

5.18%,

2/26/2029

265,000

267,941

BofA

Auto

Trust,

Series

2024-1A,

Class

A3,

5.35%,

11/15/2028(a)

100,000

101,138

Brex

Commercial

Charge

Card

Master

Trust,

Series

2024-1,

Class

A1,

6.05%,

7/15/2027(a)

610,000

613,910

Bridgecrest

Lending

Auto

Securitization

Trust,

Series

2024-3,

Class

B,

5.37%,

10/16/2028

45,000

45,110

Carmax

Auto

Owner

Trust,

Series

2024-3,

Class

A3,

4.89%,

7/16/2029

150,000

150,262

Chase

Auto

Owner

Trust,

Series

2024-3A,

Class

A3,

5.22%,

7/25/2029(a)

315,000

318,121

Enterprise

Fleet

Financing

LLC,

Series

2024-2,

Class

A3,

5.61%,

4/20/2028(a)

165,000

168,143

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Financial

Services

Exeter

Automobile

Receivables

Trust,

Series

2024-4A,

Class

C,

5.48%,

8/15/2030

65,000

65,380

GLS

Auto

Receivables

Issuer

Trust

Series

2024-1A,

Class

A3,

5.40%,

9/15/2027(a)

95,000

95,040

Series

2024-2A,

Class

A3,

5.64%,

1/18/2028(a)

480,000

482,615

GLS

Auto

Select

Receivables

Trust

Series

2024-3A,

Class

A2,

5.59%,

10/15/2029(a)

260,000

261,851

Series

2024-2A,

Class

A2,

5.58%,

6/17/2030(a)

90,000

90,485

GreenSky

Home

Improvement

Trust,

Series

2024-1,

Class

A2,

5.88%,

7/25/2059(a)

295,000

295,059

Harley-Davidson

Motorcycle

Trust,

Series

2024-A,

Class

A3,

5.37%,

3/15/2029

335,000

339,108

Hertz

Vehicle

Financing

III

LLC,

Series

2024-1A,

Class

A,

5.44%,

1/25/2029(a)

130,000

130,764

Hilton

Grand

Vacations

Trust,

Series

2024-1B,

Class

A,

5.75%,

9/15/2039(a)

189,266

193,578

Huntington

Auto

Trust,

Series

2024-1A,

Class

A3,

5.23%,

1/16/2029(a)

220,000

221,535

Hyundai

Auto

Lease

Securitization

Trust,

Series

2024-B,

Class

A3,

5.41%,

5/17/2027(a)

320,000

322,711

LAD

Auto

Receivables

Trust

Series

2024-1A,

Class

A3,

5.23%,

1/18/2028(a)

150,000

150,010

Series

2024-2A,

Class

A3,

5.61%,

8/15/2028(a)

185,000

186,404

Mercury

Financial

Credit

Card

Master

Trust,

Series

2024-2A,

Class

A,

6.56%,

7/20/2029(a)

145,000

146,639

MVW

LLC,

Series

2024-

1A,

Class

A,

5.32%,

2/20/2043(a)

121,059

122,709

Nissan

Auto

Receivables

Owner

Trust,

Series

2024-A,

Class

A3,

5.28%,

12/15/2028

465,000

470,967

Octane

Receivables

Trust,

Series

2024-2A,

Class

A2,

5.80%,

7/20/2032(a)

370,000

372,181

Reach

ABS

Trust,

Series

2024-2A,

Class

A,

5.88%,

7/15/2031(a)

135,000

135,129

Regional

Management

Issuance

Trust,

Series

2024-1,

Class

A,

5.83%,

7/15/2036(a)

120,000

122,183

56

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Short

Term

Bond

Fund

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Financial

Services

Republic

Finance

Issuance

Trust,

Series

2024-A,

Class

A,

5.91%,

8/20/2032(a)

100,000

100,665

SBNA

Auto

Lease

Trust,

Series

2024-B,

Class

A3,

5.56%,

11/22/2027(a)

155,000

156,590

SBNA

Auto

Receivables

Trust,

Series

2024-A,

Class

A3,

5.32%,

12/15/2028(a)

65,000

65,157

SCF

Equipment

Leasing

LLC,

Series

2024-1A,

Class

A2,

5.88%,

11/20/2029(a)

110,000

110,498

SFS

Auto

Receivables

Securitization

Trust,

Series

2024-2A,

Class

A3,

5.33%,

11/20/2029(a)

115,000

116,716

Sierra

Timeshare

Receivables

Funding

LLC,

Series

2024-2A,

Class

A,

5.14%,

6/20/2041(a)

330,000

331,015

Trafigura

Securitisation

Finance

plc,

Series

2024-

1A,

Class

A2,

5.98%,

11/15/2027(a)

265,000

269,124

Verizon

Master

Trust,

Series

2024-4,

Class

A1A,

5.21%,

6/20/2029

575,000

579,682

VStrong

Auto

Receivables

Trust,

Series

2024-A,

Class

B,

5.77%,

7/15/2030(a)

40,000

40,328

Westlake

Automobile

Receivables

Trust

Series

2024-1A,

Class

A3,

5.44%,

5/17/2027(a)

90,000

90,054

Series

2024-2A,

Class

A3,

5.56%,

2/15/2028(a)

165,000

165,824

Wheels

Fleet

Lease

Funding

1

LLC,

Series

2024-1A,

Class

A1,

5.49%,

2/18/2039(a)

225,000

226,749

World

Financial

Network

Credit

Card

Master

Trust,

Series

2024-A,

Class

A,

5.47%,

2/15/2031

65,000

66,146

World

Omni

Auto

Receivables

Trust,

Series

2024-B,

Class

A3,

5.27%,

9/17/2029

235,000

238,199

World

Omni

Select

Auto

Trust,

Series

2024-A,

Class

A3,

4.98%,

2/15/2030

110,000

110,316

Ziply

Fiber

Issuer

LLC,

Series

2024-1A,

Class

A2,

6.64%,

4/20/2054(a)

170,000

175,492

10,066,643

Other

1.7%

Affirm

Asset

Securitization

Trust

Series

2023-B,

Class

A,

6.82%,

9/15/2028(a)

245,000

248,905

Series

2023-X1,

Class

A,

7.11%,

11/15/2028(a)

60,760

60,974

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Other

Aqua

Finance

Trust,

Series

2021-A,

Class

A,

1.54%,

7/17/2046(a)

117,237

106,480

BHG

Securitization

Trust

Series

2022-C,

Class

A,

5.32%,

10/17/2035(a)

30,885

30,838

Series

2023-B,

Class

A,

6.92%,

12/17/2036(a)

226,002

233,408

Hilton

Grand

Vacations

Trust,

Series

2023-1A,

Class

A,

5.72%,

1/25/2038(a)

147,546

150,587

Marlette

Funding

Trust

Series

2023-2A,

Class

A,

6.04%,

6/15/2033(a)

66,775

66,799

Series

2023-3A,

Class

A,

6.49%,

9/15/2033(a)

70,494

70,558

New

Economy

Assets

Phase

1

Sponsor

LLC,

Series

2021-1,

Class

A1,

1.91%,

10/20/2061(a)

450,000

407,455

OneMain

Financial

Issuance

Trust,

Series

2022-

S1,

Class

A,

4.13%,

5/14/2035(a)

390,000

383,970

1,759,974

Student

Loan

0.4%

Massachusetts

Educational

Financing

Authority,

Series

2018-A,

Class

A,

3.85%,

5/25/2033

123,805

119,900

Navient

Private

Education

Refi

Loan

Trust

Series

2021-A,

Class

A,

0.84%,

5/15/2069(a)

79,166

70,815

Series

2020-GA,

Class

A,

1.17%,

9/16/2069(a)

27,885

25,509

Series

2021-CA,

Class

A,

1.06%,

10/15/2069(a)

255,547

226,439

442,663

Total

Asset-Backed

Securities

(cost

$30,912,589)

30,973,940

Collateralized

Mortgage

Obligations

0.3%

FHLMC

REMIC,

Series

3721,

Class

PE,

3.50%,

9/15/2040

36,694

35,598

FNMA

REMIC

Series

2012-100,

Class

WA,

1.50%,

9/25/2027

46,434

44,417

Series

2012-93,

Class

DP,

1.50%,

9/25/2027

38,574

36,970

GNMA

REMIC

Series

2009-104,

Class

KE,

2.50%,

8/16/2039

923

918

Series

2011-39,

Class

NE,

3.50%,

9/16/2039

32,476

32,364

Series

2010-H22,

Class

FE,

5.79%,

5/20/2059(b)

5,777

5,736

Nationwide

Loomis

Short

Term

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

57

Collateralized

Mortgage

Obligations

Principal

Amount

($)

Value

($)

Series

2011-H11,

Class

FA,

5.94%,

3/20/2061(b)

62,833

62,732

Series

2012-H18,

Class

NA,

5.96%,

8/20/2062(b)

19,592

19,542

Series

2016-H13,

Class

FT,

6.02%,

5/20/2066(b)

6,101

6,097

Series

2017-H25,

Class

FD,

5.59%,

12/20/2067(b)

26,021

25,716

Series

2019-H01,

Class

FT,

5.84%,

10/20/2068(b)

33,890

33,800

Series

2019-H13,

Class

FT,

5.65%,

8/20/2069(b)

61,544

61,433

Total

Collateralized

Mortgage

Obligations

(cost

$373,671)

365,323

Commercial

Mortgage-Backed

Securities

5.3%

AOA

Mortgage

Trust,

Series

2021-1177,

Class

A,

6.32%,

10/15/2038(a)(b)

430,000

404,485

BANK5

Series

2023-5YR3,

Class

A3,

6.72%,

9/15/2056(b)

175,000

185,744

Series

2023-5YR4,

Class

A3,

6.50%,

12/15/2056

60,593

63,730

BBCMS

Mortgage

Trust,

Series

2020-BID,

Class

A,

7.58%,

10/15/2037(a)(b)

425,000

422,875

Benchmark

Mortgage

Trust,

Series

2023-V2,

Class

A3,

5.81%,

5/15/2055(b)

320,000

328,016

BPR

Trust

Series

2022-OANA,

Class

A,

7.23%,

4/15/2037(a)(b)

200,000

199,875

Series

2021-NRD,

Class

A,

6.85%,

12/15/2038(a)(b)

350,000

342,136

Series

2022-SSP,

Class

A,

8.33%,

5/15/2039(a)(b)

300,000

300,563

BX

Trust,

Series

2024-

VLT4,

Class

A,

6.82%,

7/15/2029(a)(b)

100,000

99,832

CFCRE

Commercial

Mortgage

Trust

REMICS,

Series

2016-C7,

Class

A3,

3.84%,

12/10/2054

340,000

326,823

Citigroup

Commercial

Mortgage

Trust,

Series

2021-PRM2,

Class

A,

6.39%,

10/15/2038(a)(b)

245,000

242,397

CSMC

OA

LLC,

Series

2014-

USA,

Class

A2,

3.95%,

9/15/2037(a)

395,000

350,990

DC

Commercial

Mortgage

Trust,

Series

2023-

DC,

Class

A,

6.31%,

9/12/2040(a)

140,000

145,104

DROP

Mortgage

Trust,

Series

2021-FILE,

Class

A,

6.59%,

10/15/2043(a)(b)

315,000

300,037

Commercial

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

GS

Mortgage

Securities

Corp.

Trust

Series

2013-PEMB,

Class

A,

3.55%,

3/5/2033(a)(b)

100,000

84,990

Series

2012-BWTR,

Class

A,

2.95%,

11/5/2034(a)

348,692

283,838

Series

2023-SHIP,

Class

A,

4.32%,

9/10/2038(a)(b)

215,000

210,491

Hudsons

Bay

Simon

JV

Trust,

Series

2015-HB7,

Class

A7,

3.91%,

8/5/2034(a)

65,802

65,644

MSBAM

Commercial

Mortgage

Securities

Trust,

Series

2012-CKSV,

Class

A2,

3.28%,

10/15/2030(a)

404,927

368,480

OPG

Trust,

Series

2021-

PORT,

Class

A,

5.93%,

10/15/2036(a)(b)

224,827

220,752

SCOTT

Trust,

Series

2023-

SFS,

Class

A,

5.91%,

3/10/2040(a)

230,000

234,272

Starwood

Retail

Property

Trust,

Series

2014-

STAR,

Class

A,

8.50%,

11/15/2027(a)(b)

307,641

184,584

Total

Commercial

Mortgage-Backed

Securities

(cost

$5,677,148)

5,365,658

Corporate

Bonds

51.4%

Aerospace

&

Defense

0.6%

Boeing

Co.

(The)

,

6.30%,

5/1/2029(a)(c)

195,000

201,706

Bombardier,

Inc.

,

7.25%,

7/1/2031(a)(c)

145,000

149,272

RTX

Corp.

,

5.75%,

11/8/2026(c)

280,000

285,871

636,849

Automobiles

1.3%

Hyundai

Capital

America

,

5.95%,

9/21/2026(a)

325,000

330,722

5.30%,

6/24/2029(a)(c)

195,000

197,611

Kia

Corp.

,

2.38%,

2/14/2025(a)

520,000

511,682

Mercedes-Benz

Finance

North

America

LLC

,

4.80%,

8/1/2029(a)

230,000

230,936

1,270,951

Banks

9.7%

ABN

AMRO

Bank

NV

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.65%),

6.34%,

9/18/2027(a)(d)

200,000

204,664

AIB

Group

plc

,

(SOFR

+

3.46%),

7.58%,

10/14/2026(a)(d)

345,000

353,734

58

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Short

Term

Bond

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

ASB

Bank

Ltd.

,

5.35%,

6/15/2026(a)

215,000

216,838

Australia

&

New

Zealand

Banking

Group

Ltd.

,

4.90%,

7/16/2027(c)

455,000

460,004

Banco

Santander

SA

,

5.44%,

7/15/2031

200,000

203,383

Bank

of

America

Corp.

,

(SOFR

+

1.33%),

3.38%,

4/2/2026(d)

315,000

310,785

Bank

of

Ireland

Group

plc

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.65%),

6.25%,

9/16/2026(a)(d)

200,000

201,732

Banque

Federative

du

Credit

Mutuel

SA

,

5.19%,

2/16/2028(a)

380,000

383,860

Canadian

Imperial

Bank

of

Commerce

,

5.24%,

6/28/2027

305,000

308,830

Citibank

NA

,

5.49%,

12/4/2026(c)

340,000

345,277

Citizens

Financial

Group,

Inc.

,

(SOFR

+

1.91%),

5.72%,

7/23/2032(d)

235,000

237,894

Comerica,

Inc.

,

(SOFR

+

2.16%),

5.98%,

1/30/2030(d)

75,000

75,190

Danske

Bank

A/S

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.18%),

6.26%,

9/22/2026(a)(d)

330,000

333,800

HSBC

Holdings

plc

,

(SOFR

+

1.57%),

5.89%,

8/14/2027(d)

200,000

203,120

Huntington

Bancshares,

Inc.

,

(SOFR

+

2.02%),

6.21%,

8/21/2029(d)

230,000

239,035

Intesa

Sanpaolo

SpA

,

7.00%,

11/21/2025(a)

280,000

285,743

JPMorgan

Chase

&

Co.

,

(SOFR

+

1.13%),

5.00%,

7/22/2030(d)

415,000

418,082

Morgan

Stanley

Bank

NA

,

(SOFR

+

0.87%),

5.50%,

5/26/2028(d)

400,000

407,157

National

Bank

of

Canada

,

(SOFR

+

1.04%),

5.60%,

7/2/2027(d)

435,000

439,540

National

Securities

Clearing

Corp.

,

5.15%,

6/26/2026(a)

420,000

423,428

NatWest

Markets

plc

,

1.60%,

9/29/2026(a)

255,000

237,548

Royal

Bank

of

Canada

,

5.20%,

7/20/2026(c)

355,000

358,064

(SOFR

+

1.10%),

4.97%,

8/2/2030(c)(d)

315,000

317,687

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

Santander

Holdings

USA,

Inc.

,

(SOFR

+

2.14%),

6.34%,

5/31/2035(d)

125,000

128,076

Societe

Generale

SA

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.75%),

5.63%,

1/19/2030(a)(c)(d)

225,000

226,367

Sumitomo

Mitsui

Trust

Bank

Ltd.

,

5.20%,

3/7/2027(a)

335,000

338,392

Svenska

Handelsbanken

AB

,

5.13%,

5/28/2027(a)

310,000

314,317

Swedbank

AB

,

6.14%,

9/12/2026(a)(c)

285,000

291,214

UniCredit

SpA

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.30%),

2.57%,

9/22/2026(a)(d)

455,000

440,059

US

Bancorp

,

(SOFR

+

1.25%),

5.10%,

7/23/2030(d)

180,000

181,594

Wells

Fargo

&

Co.

,

(SOFR

+

1.32%),

3.91%,

4/25/2026(d)

100,000

98,917

(SOFR

+

1.07%),

5.71%,

4/22/2028(d)

190,000

193,709

Wells

Fargo

Bank

NA

,

5.25%,

12/11/2026

345,000

348,983

Westpac

New

Zealand

Ltd.

,

5.13%,

2/26/2027(a)

305,000

307,785

9,834,808

Beverages

0.4%

Bacardi

Ltd.

,

4.45%,

5/15/2025(a)

395,000

391,670

Broadline

Retail

0.3%

Prosus

NV

,

3.26%,

1/19/2027(a)

370,000

349,242

Building

Products

0.1%

Builders

FirstSource

,

Inc.

,

6.38%,

3/1/2034(a)(c)

95,000

95,816

Capital

Markets

6.5%

Antares

Holdings

LP

,

3.75%,

7/15/2027(a)

390,000

362,644

Apollo

Debt

Solutions

BDC

,

6.70%,

7/29/2031(a)

150,000

151,766

Ares

Capital

Corp.

,

5.95%,

7/15/2029

180,000

180,571

Ares

Strategic

Income

Fund

,

6.35%,

8/15/2029(a)

135,000

136,083

Bank

of

New

York

Mellon

Corp.

(The)

,

(SOFR

+

1.23%),

5.06%,

7/22/2032(d)

215,000

217,691

BlackRock

Funding,

Inc.

,

4.90%,

1/8/2035

165,000

165,809

Nationwide

Loomis

Short

Term

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

59

Corporate

Bonds

Principal

Amount

($)

Value

($)

Capital

Markets

Blackstone

Secured

Lending

Fund

,

5.88%,

11/15/2027

45,000

45,336

2.85%,

9/30/2028

120,000

107,484

Blue

Owl

Capital

Corp.

,

3.75%,

7/22/2025

210,000

205,965

Blue

Owl

Capital

Corp.

II

,

8.45%,

11/15/2026(a)

95,000

99,114

Blue

Owl

Credit

Income

Corp.

,

7.95%,

6/13/2028(c)

115,000

121,671

6.60%,

9/15/2029(a)

55,000

55,472

Blue

Owl

Technology

Finance

Corp.

,

4.75%,

12/15/2025(a)

150,000

146,273

Blue

Owl

Technology

Finance

Corp.

II

,

6.75%,

4/4/2029(a)

180,000

179,181

Cantor

Fitzgerald

LP

,

7.20%,

12/12/2028(a)

110,000

115,736

FS

KKR

Capital

Corp.

,

7.88%,

1/15/2029

55,000

57,876

6.88%,

8/15/2029

300,000

304,000

Goldman

Sachs

Bank

USA

,

(SOFR

+

0.78%),

5.28%,

3/18/2027(d)

265,000

266,051

(SOFR

+

0.75%),

5.41%,

5/21/2027(d)

365,000

367,577

Goldman

Sachs

BDC,

Inc.

,

6.38%,

3/11/2027

30,000

30,669

Goldman

Sachs

Group,

Inc.

(The)

,

(SOFR

+

1.21%),

5.05%,

7/23/2030(d)

375,000

376,842

Golub

Capital

BDC,

Inc.

,

2.50%,

8/24/2026(c)

195,000

182,042

Hercules

Capital,

Inc.

,

3.38%,

1/20/2027

195,000

183,239

HPS

Corporate

Lending

Fund

,

6.25%,

9/30/2029(a)

120,000

120,769

Jefferies

Financial

Group,

Inc.

,

5.88%,

7/21/2028

115,000

118,186

Lehman

Brothers

Holdings,

Inc.

,

5.63%,

1/24/2013(e)

500,000

250

Main

Street

Capital

Corp.

,

3.00%,

7/14/2026

130,000

122,952

6.50%,

6/4/2027

85,000

86,200

Moody's

Corp.

,

5.00%,

8/5/2034

45,000

45,019

Morgan

Stanley

,

(SOFR

+

1.22%),

5.04%,

7/19/2030(d)

610,000

614,246

New

Mountain

Finance

Corp.

,

6.88%,

2/1/2029(c)

60,000

59,970

Oaktree

Strategic

Credit

Fund

,

6.50%,

7/23/2029(a)

80,000

80,350

Sixth

Street

Lending

Partners

,

6.50%,

3/11/2029(a)

140,000

141,963

Sixth

Street

Specialty

Lending,

Inc.

,

6.13%,

3/1/2029

55,000

55,460

Corporate

Bonds

Principal

Amount

($)

Value

($)

Capital

Markets

State

Street

Corp.

,

4.99%,

3/18/2027

370,000

373,708

UBS

AG

,

5.00%,

7/9/2027

350,000

351,786

USAA

Capital

Corp.

,

5.25%,

6/1/2027(a)

275,000

279,601

6,509,552

Chemicals

1.1%

Celanese

US

Holdings

LLC

,

6.17%,

7/15/2027

290,000

297,774

EIDP,

Inc.

,

4.50%,

5/15/2026

320,000

318,797

Nutrien

Ltd.

,

5.90%,

11/7/2024

335,000

335,050

Solvay

Finance

America

LLC

,

5.65%,

6/4/2029(a)

200,000

205,222

1,156,843

Commercial

Services

&

Supplies

0.8%

Element

Fleet

Management

Corp.

,

3.85%,

6/15/2025(a)

215,000

211,951

5.64%,

3/13/2027(a)(c)

345,000

349,692

Waste

Management,

Inc.

,

4.95%,

7/3/2027(c)

245,000

247,907

809,550

Consumer

Finance

3.0%

Ally

Financial,

Inc.

,

7.10%,

11/15/2027

125,000

131,893

Avolon

Holdings

Funding

Ltd.

,

5.50%,

1/15/2026(a)

345,000

344,894

Capital

One

Financial

Corp.

,

(SOFR

+

2.44%),

7.15%,

10/29/2027(d)

100,000

104,264

Caterpillar

Financial

Services

Corp.

,

5.00%,

5/14/2027(c)

410,000

415,719

Ford

Motor

Credit

Co.

LLC

,

2.30%,

2/10/2025

200,000

196,278

General

Motors

Financial

Co.,

Inc.

,

6.05%,

10/10/2025

235,000

237,302

Harley-Davidson

Financial

Services,

Inc.

,

3.35%,

6/8/2025(a)

55,000

53,904

6.50%,

3/10/2028(a)

60,000

62,027

5.95%,

6/11/2029(a)

60,000

60,933

Hyundai

Capital

Services,

Inc.

,

2.13%,

4/24/2025(a)

200,000

195,495

LeasePlan

Corp.

NV

,

2.88%,

10/24/2024(a)

295,000

292,957

Navient

Corp.

,

11.50%,

3/15/2031

165,000

182,862

PACCAR

Financial

Corp.

,

5.00%,

5/13/2027(c)

300,000

304,375

Synchrony

Financial

,

4.88%,

6/13/2025

55,000

54,568

(United

States

SOFR

Compounded

Index

+

2.13%),

5.94%,

8/2/2030(d)

95,000

95,586

60

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Short

Term

Bond

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Consumer

Finance

Toyota

Motor

Credit

Corp.

,

5.00%,

8/14/2026

255,000

256,865

2,989,922

Containers

&

Packaging

0.8%

Amcor

Flexibles

North

America,

Inc.

,

4.00%,

5/17/2025

185,000

182,833

Berry

Global,

Inc.

,

5.80%,

6/15/2031(a)

300,000

305,559

Sonoco

Products

Co.

,

1.80%,

2/1/2025(c)

315,000

308,896

797,288

Diversified

REITs

0.5%

GLP

Capital

LP

,

5.25%,

6/1/2025

285,000

283,507

5.63%,

9/15/2034

250,000

248,913

532,420

Electric

Utilities

2.6%

Alliant

Energy

Finance

LLC

,

5.40%,

6/6/2027(a)

250,000

253,459

American

Electric

Power

Co.,

Inc.

,

5.70%,

8/15/2025

150,000

150,556

Duke

Energy

Corp.

,

4.85%,

1/5/2027

295,000

296,175

Edison

International

,

4.70%,

8/15/2025

300,000

298,144

Enel

Finance

International

NV

,

5.13%,

6/26/2029(a)

200,000

200,939

FirstEnergy

Pennsylvania

Electric

Co.

,

5.15%,

3/30/2026(a)

100,000

99,993

Georgia

Power

Co.

,

5.00%,

2/23/2027(c)

305,000

307,974

ITC

Holdings

Corp.

,

4.95%,

9/22/2027(a)

335,000

336,329

NextEra

Energy

Capital

Holdings,

Inc.

,

5.75%,

9/1/2025

285,000

286,973

Vistra

Operations

Co.

LLC

,

5.13%,

5/13/2025(a)

375,000

373,117

2,603,659

Electronic

Equipment,

Instruments

&

Components

0.2%

Flex

Ltd.

,

6.00%,

1/15/2028

180,000

185,209

Entertainment

0.4%

Netflix,

Inc.

,

4.90%,

8/15/2034

20,000

20,096

Take-Two

Interactive

Software,

Inc.

,

5.40%,

6/12/2029

75,000

76,664

Warnermedia

Holdings,

Inc.

,

3.76%,

3/15/2027(c)

285,000

271,478

368,238

Financial

Services

3.5%

Enact

Holdings,

Inc.

,

6.25%,

5/28/2029

250,000

254,491

Corporate

Bonds

Principal

Amount

($)

Value

($)

Financial

Services

Essent

Group

Ltd.

,

6.25%,

7/1/2029(c)

215,000

219,481

Global

Payments,

Inc.

,

1.50%,

11/15/2024

275,000

271,655

JPMorgan

Chase

Bank

NA

,

5.11%,

12/8/2026

345,000

348,039

National

Rural

Utilities

Cooperative

Finance

Corp.

,

5.60%,

11/13/2026

270,000

275,164

5.10%,

5/6/2027(c)

330,000

335,036

Nationstar

Mortgage

Holdings,

Inc.

,

6.50%,

8/1/2029(a)

255,000

254,624

Nationwide

Building

Society

,

(SOFR

+

1.91%),

6.56%,

10/18/2027(a)(d)

375,000

386,328

5.13%,

7/29/2029(a)

215,000

217,419

NMI

Holdings,

Inc.

,

6.00%,

8/15/2029

120,000

120,834

NTT

Finance

Corp.

,

5.11%,

7/2/2029(a)

205,000

208,232

PennyMac

Financial

Services,

Inc.

,

7.13%,

11/15/2030(a)

205,000

206,571

Radian

Group,

Inc.

,

6.20%,

5/15/2029(c)

165,000

170,281

Synchrony

Bank

,

5.40%,

8/22/2025

305,000

304,220

3,572,375

Food

Products

0.9%

Campbell

Soup

Co.

,

5.20%,

3/19/2027(c)

290,000

294,216

Conagra

Brands,

Inc.

,

5.30%,

10/1/2026(c)

330,000

332,992

General

Mills,

Inc.

,

4.70%,

1/30/2027

315,000

314,565

941,773

Gas

Utilities

0.3%

Spire,

Inc.

,

5.30%,

3/1/2026

290,000

291,219

Ground

Transportation

0.3%

Penske

Truck

Leasing

Co.

LP

,

4.00%,

7/15/2025(a)

45,000

44,394

5.25%,

7/1/2029(a)

160,000

161,948

Ryder

System,

Inc.

,

4.95%,

9/1/2029

95,000

95,172

301,514

Health

Care

Equipment

&

Supplies

0.9%

GE

HealthCare

Technologies,

Inc.

,

5.55%,

11/15/2024

360,000

359,854

Smith

&

Nephew

plc

,

5.15%,

3/20/2027

295,000

297,598

Solventum

Corp.

,

5.45%,

2/25/2027(a)

290,000

292,731

950,183

Nationwide

Loomis

Short

Term

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

61

Corporate

Bonds

Principal

Amount

($)

Value

($)

Health

Care

Providers

&

Services

0.8%

Health

Care

Service

Corp.

,

5.20%,

6/15/2029(a)

270,000

273,740

UnitedHealth

Group,

Inc.

,

4.80%,

1/15/2030

500,000

504,580

778,320

Health

Care

Technology

0.1%

IQVIA,

Inc.

,

6.25%,

2/1/2029

135,000

141,055

Hotels,

Restaurants

&

Leisure

0.6%

Expedia

Group,

Inc.

,

6.25%,

5/1/2025(a)

281,000

281,858

Hyatt

Hotels

Corp.

,

5.75%,

1/30/2027

105,000

106,807

5.25%,

6/30/2029

235,000

237,352

626,017

Independent

Power

and

Renewable

Electricity

Producers

0.3%

AES

Corp.

(The)

,

3.30%,

7/15/2025(a)

315,000

308,220

Industrial

Conglomerates

0.5%

Honeywell

International,

Inc.

,

4.65%,

7/30/2027

500,000

502,217

Industrial

REITs

0.2%

Prologis

LP

,

5.00%,

1/31/2035

170,000

169,937

Insurance

4.2%

Athene

Global

Funding

,

5.62%,

5/8/2026(a)

280,000

282,533

Brighthouse

Financial

Global

Funding

,

1.75%,

1/13/2025(a)

375,000

368,339

5.55%,

4/9/2027(a)

195,000

196,431

Chubb

INA

Holdings

LLC

,

4.65%,

8/15/2029

500,000

501,740

CNO

Global

Funding

,

5.88%,

6/4/2027(a)

300,000

304,744

F&G

Global

Funding

,

5.15%,

7/7/2025(a)

390,000

388,370

Jackson

National

Life

Global

Funding

,

1.75%,

1/12/2025(a)

155,000

152,345

MassMutual

Global

Funding

II

,

5.10%,

4/9/2027(a)(c)

210,000

212,972

Metropolitan

Life

Global

Funding

I

,

5.05%,

6/11/2027(a)

275,000

278,380

Mutual

of

Omaha

Cos.

Global

Funding

,

5.35%,

4/9/2027(a)

325,000

328,093

New

York

Life

Global

Funding

,

4.90%,

4/2/2027(a)

190,000

191,575

Northwestern

Mutual

Global

Funding

,

5.07%,

3/25/2027(a)

290,000

293,885

Protective

Life

Global

Funding

,

5.22%,

6/12/2029(a)

150,000

152,536

Corporate

Bonds

Principal

Amount

($)

Value

($)

Insurance

Reinsurance

Group

of

America,

Inc.

,

5.75%,

9/15/2034

275,000

281,298

RGA

Global

Funding

,

5.45%,

5/24/2029(a)

140,000

143,337

SiriusPoint

Ltd.

,

7.00%,

4/5/2029(c)

170,000

177,496

4,254,074

Leisure

Products

0.1%

Hasbro,

Inc.

,

6.05%,

5/14/2034(c)

50,000

51,110

Machinery

0.2%

CNH

Industrial

Capital

LLC

,

5.45%,

10/14/2025

170,000

170,736

Media

0.3%

Charter

Communications

Operating

LLC

,

6.10%,

6/1/2029

290,000

296,452

Metals

&

Mining

0.2%

Mineral

Resources

Ltd.

,

9.25%,

10/1/2028(a)

175,000

186,106

Mortgage

Real

Estate

Investment

Trusts

(REITs)

0.3%

Starwood

Property

Trust,

Inc.

,

3.75%,

12/31/2024(a)

355,000

350,156

Multi-Utilities

1.8%

Ameren

Corp.

,

5.70%,

12/1/2026(c)

280,000

284,808

CenterPoint

Energy,

Inc.

,

5.25%,

8/10/2026

335,000

336,722

Dominion

Energy,

Inc.

,

3.07%,

8/15/2024(f)

295,000

294,684

DTE

Energy

Co.

,

4.22%,

11/1/2024(f)

375,000

373,218

4.95%,

7/1/2027

205,000

205,757

WEC

Energy

Group,

Inc.

,

5.60%,

9/12/2026(c)

270,000

273,801

1,768,990

Office

REITs

0.2%

Hudson

Pacific

Properties

LP

,

5.95%,

2/15/2028

195,000

175,909

Oil,

Gas

&

Consumable

Fuels

2.5%

Crescent

Energy

Finance

LLC

,

9.25%,

2/15/2028(a)(c)

85,000

89,733

Gray

Oak

Pipeline

LLC

,

2.60%,

10/15/2025(a)

75,000

72,596

Kinder

Morgan,

Inc.

,

5.10%,

8/1/2029

175,000

176,779

Kinetik

Holdings

LP

,

6.63%,

12/15/2028(a)

280,000

285,520

Occidental

Petroleum

Corp.

,

5.20%,

8/1/2029

500,000

503,040

Permian

Resources

Operating

LLC

,

6.25%,

2/1/2033(a)

25,000

25,188

62

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Short

Term

Bond

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Oil,

Gas

&

Consumable

Fuels

Pioneer

Natural

Resources

Co.

,

5.10%,

3/29/2026

315,000

316,731

Sitio

Royalties

Operating

Partnership

LP

,

7.88%,

11/1/2028(a)(c)

175,000

183,109

SM

Energy

Co.

,

6.75%,

8/1/2029(a)

170,000

171,127

TransCanada

PipeLines

Ltd.

,

(United

States

SOFR

Compounded

Index

+

1.52%),

6.91%,

3/9/2026(d)

355,000

355,227

Williams

Cos.,

Inc.

(The)

,

5.40%,

3/2/2026(c)

300,000

302,045

2,481,095

Passenger

Airlines

0.4%

Southwest

Airlines

Co.

,

5.25%,

5/4/2025

255,000

254,159

United

Airlines,

Inc.

,

4.38%,

4/15/2026(a)

120,000

116,998

371,157

Pharmaceuticals

0.4%

Royalty

Pharma

plc

,

5.15%,

9/2/2029

205,000

206,392

Teva

Pharmaceutical

Finance

Netherlands

III

BV

,

4.75%,

5/9/2027

230,000

222,894

429,286

Real

Estate

Management

&

Development

0.1%

Forestar

Group,

Inc.

,

3.85%,

5/15/2026(a)(c)

155,000

149,877

Semiconductors

&

Semiconductor

Equipment

0.4%

Broadcom,

Inc.

,

5.05%,

7/12/2029

270,000

273,325

Qorvo,

Inc.

,

1.75%,

12/15/2024

100,000

98,283

371,608

Specialized

REITs

0.4%

Public

Storage

Operating

Co.

,

(United

States

SOFR

Compounded

Index

+

0.70%),

6.06%,

4/16/2027(d)

415,000

416,278

Specialty

Retail

1.1%

Advance

Auto

Parts,

Inc.

,

5.90%,

3/9/2026

140,000

140,364

AutoZone,

Inc.

,

5.05%,

7/15/2026(c)

290,000

291,540

Lowe's

Cos.,

Inc.

,

4.40%,

9/8/2025

400,000

397,151

O'Reilly

Automotive,

Inc.

,

5.75%,

11/20/2026

270,000

275,308

1,104,363

Corporate

Bonds

Principal

Amount

($)

Value

($)

Textiles,

Apparel

&

Luxury

Goods

0.2%

Tapestry,

Inc.

,

7.35%,

11/27/2028

190,000

199,455

Tobacco

0.4%

Altria

Group,

Inc.

,

6.20%,

11/1/2028

230,000

242,431

Imperial

Brands

Finance

plc

,

5.50%,

2/1/2030(a)

200,000

201,898

444,329

Trading

Companies

&

Distributors

1.5%

Air

Lease

Corp.

,

0.80%,

8/18/2024

200,000

199,519

5.20%,

7/15/2031

225,000

224,872

Aircastle

Ltd.

,

2.85%,

1/26/2028(a)

225,000

206,871

5.95%,

2/15/2029(a)

70,000

71,317

Aviation

Capital

Group

LLC

,

5.38%,

7/15/2029(a)

230,000

230,933

GATX

Corp.

,

5.40%,

3/15/2027

160,000

161,986

TTX

Co.

,

5.50%,

9/25/2026(a)

435,000

440,517

1,536,015

Total

Corporate

Bonds

(cost

$51,980,820)

51,871,843

Mortgage-Backed

Securities

0.4%

FHLMC

Gold

Pool

Pool#

G13746

4.50%,

1/1/2025

1,699

1,693

Pool#

G13888

5.00%,

6/1/2025

5

5

Pool#

J19197

3.00%,

5/1/2027

48,516

47,361

Pool#

C00748

6.00%,

4/1/2029

2,656

2,721

Pool#

C01418

5.50%,

10/1/2032

21,961

22,574

Pool#

G01740

5.50%,

12/1/2034

13,053

13,311

Pool#

G04342

6.00%,

4/1/2038

16,972

17,564

FHLMC

Non

Gold

Pool

Pool#

972136

6.35%,

1/1/2034(b)

15,144

15,475

Pool#

848191

6.46%,

12/1/2034(b)

71,330

72,551

FNMA

Pool#

815323

,

7.26%,

1/1/2035

(b)

19,927

20,168

FNMA

UMBS

Pool

Pool#

931892

4.50%,

9/1/2024

4,542

4,522

Pool#

AL0802

4.50%,

4/1/2025

1,796

1,786

Pool#

AB2518

4.00%,

3/1/2026

6,700

6,613

Pool#

AB4998

3.00%,

4/1/2027

85,867

83,725

Nationwide

Loomis

Short

Term

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

63

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

190307

8.00%,

6/1/2030

220

229

Pool#

253516

8.00%,

11/1/2030

167

173

Pool#

725773

5.50%,

9/1/2034

29,093

29,633

Pool#

811773

5.50%,

1/1/2035

29,672

30,223

GNMA

Pool#

5080

,

4.00%,

6/20/2026

9,878

9,764

Total

Mortgage-Backed

Securities

(cost

$386,039)

380,091

U.S.

Treasury

Obligations

10.3%

U.S.

Treasury

Notes

5.00%,

10/31/2025

1,200,000

1,205,391

4.88%,

4/30/2026

1,880,000

1,895,642

4.63%,

6/30/2026

7,250,000

7,292,197

Total

U.S.

Treasury

Obligations

(cost

$10,338,648)

10,393,230

Repurchase

Agreement

4.4%

CF

Secured,

LLC

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$4,473,352,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$4,562,820.

(g)

4,472,688

4,472,688

Total

Repurchase

Agreement

(cost

$4,472,688)

4,472,688

Total

Investments

(cost

$104,141,603)

—

102.8%

103,822,773

Liabilities

in

excess

of

other

assets

—

(2.8)%

(2,876,629)

NET

ASSETS

—

100.0%

$

100,946,144

(a)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$46,553,048

which

represents

46.12%

of

net

assets.

(b)

Variable

or

floating

rate

security,

the

interest

rate

of

which

adjusts

periodically

based

on

changes

in

current

interest

rates

and

prepayments

on

the

underlying

pool

of

assets.  The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(c)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$4,537,503,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$4,472,688

and

by

$205,151

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

4.75%,

and

maturity

dates

ranging

from

8/15/2024

–

11/15/2053,

a

total

value

of

$4,677,839.

(d)

Variable

or

floating

rate

security,

linked

to

the

referenced

benchmark.

The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(e)

Security

in

default.

(f)

Step

Bond.

Coupon

rate

is

set

for

an

initial

period

and

then

increases

to

a

higher

coupon

rate

at

a

specific

date.

The

rate

shown

is

the

rate

as

of

July

31,

2024.

(g)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$4,472,688.

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

GNMA

Government

National

Mortgage

Association

REIT

Real

Estate

Investment

Trust

REMICS

Real

Estate

Mortgage

Investment

Conduits

SOFR

Secured

Overnight

Financing

Rate

UMBS

Uniform

Mortgage-Backed

Securities

Currency:

USD

United

States

Dollar

64

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Short

Term

Bond

Fund

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Short

Contracts

U.S.

Treasury

10

Year

Note

(19)

9/2024

USD

(2,124,437)

(53,212)

U.S.

Treasury

10

Year

Ultra

Note

(13)

9/2024

USD

(1,502,516)

(12,667)

Net

contracts

(65,879)

As

of

July

31,

2024,

the

Fund

had

$327,000

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

Nationwide

Loomis

Short

Term

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

65

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

66

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

Short

Term

Bond

Fund

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

financial

futures

contracts.

(a)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Asset-Backed

Securities

$

–

$

30,973,940

$

–

$

30,973,940

Collateralized

Mortgage

Obligations

–

365,323

–

365,323

Commercial

Mortgage-Backed

Securities

–

5,365,658

–

5,365,658

Corporate

Bonds

–

51,871,843

–

51,871,843

Mortgage-Backed

Securities

–

380,091

–

380,091

Repurchase

Agreement

–

4,472,688

–

4,472,688

U.S.

Treasury

Obligations

–

10,393,230

–

10,393,230

Total

Assets

$

–

$

103,822,773

$

–

$

103,822,773

Liabilities:

Futures

Contracts

$

(65,879)

$

–

$

–

$

(65,879)

Total

Liabilities

$

(65,879)

$

–

$

–

$

(65,879)

Total

$

(65,879)

$

103,822,773

$

–

$

103,756,894

Nationwide

Loomis

Short

Term

Bond

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

67

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Liabilities:

Fair

Value

Futures

Contracts

Interest

rate

risk

Unrealized

depreciation

from

futures

contracts

$

(65,879)

Total

$

(65,879)

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Bailard

Cognitive

Value

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

1

Common

Stocks

98

.5

%

Shares

Value

($)

Aerospace

&

Defense

0

.2

%

VirTra,

Inc.*

18,857

165,376

Automobile

Components

0

.5

%

American

Axle

&

Manufacturing

Holdings,

Inc.*

31,400

233,302

Standard

Motor

Products,

Inc.

6,700

219,291

Strattec

Security

Corp.*

3,573

87,610

540,203

Banks

17

.4

%

1st

Source

Corp.

14,000

889,700

Amalgamated

Financial

Corp.

28,003

890,776

Associated

Banc-Corp.

9,600

220,608

Banner

Corp.(a)

1,300

76,986

Bar

Harbor

Bankshares

18,821

601,519

BayCom

Corp.

3,300

79,497

Byline

Bancorp,

Inc.

21,600

605,880

Cadence

Bank

6,641

218,290

Camden

National

Corp.

3,900

162,552

Central

Pacific

Financial

Corp.

(a)

23,536

614,054

CNB

Financial

Corp.

15,855

406,839

Comerica,

Inc.

3,100

169,911

Community

Financial

System,

Inc.(a)

4,500

277,560

Enterprise

Financial

Services

Corp.(a)

10,100

533,987

First

Bancorp

11,800

253,110

First

Bancshares,

Inc.

(The)

4,085

136,112

First

Busey

Corp.

4,000

109,760

First

Financial

Bancorp

27,900

763,344

First

Financial

Corp.

7,003

314,855

First

Horizon

Corp.

33,500

560,455

First

Internet

Bancorp

3,600

133,416

First

Merchants

Corp.

20,600

831,210

FNB

Corp.

4,300

65,962

Hancock

Whitney

Corp.

14,700

804,531

Hanmi

Financial

Corp.(a)

35,623

726,709

Home

Bancorp,

Inc.

10,346

456,466

Home

BancShares,

Inc.

14,700

416,451

Independent

Bank

Corp.

18,760

650,784

International

Bancshares

Corp.

15,200

1,025,088

MidWestOne

Financial

Group,

Inc.

11,485

336,625

Northrim

Bancorp,

Inc.(a)

9,600

656,640

OceanFirst

Financial

Corp.(a)

27,371

497,331

OFG

Bancorp

10,111

459,242

Old

Second

Bancorp,

Inc.

7,500

126,900

Origin

Bancorp,

Inc.

3,200

109,952

Orrstown

Financial

Services,

Inc.

12,126

426,350

Peoples

Bancorp,

Inc.

2,500

83,175

Renasant

Corp.

6,100

209,779

S&T

Bancorp,

Inc.

3,502

155,419

SmartFinancial,

Inc.

13,653

386,926

Southern

Missouri

Bancorp,

Inc.

4,050

231,660

Third

Coast

Bancshares,

Inc.*

11,438

267,306

UMB

Financial

Corp.(a)

7,216

736,176

Univest

Financial

Corp.

10,100

279,265

WesBanco,

Inc.

24,600

784,248

Common

Stocks

Shares

Value

($)

Banks

Zions

Bancorp

NA

8,500

439,195

19,182,601

Biotechnology

2

.6

%

Alkermes

plc*

4,562

124,634

Avidity

Biosciences,

Inc.*

8,900

405,662

Celldex

Therapeutics,

Inc.*(a)

3,000

114,330

Crinetics

Pharmaceuticals,

Inc.*

2,106

111,871

Entrada

Therapeutics,

Inc.*

3,900

64,233

Exelixis,

Inc.*

4,900

114,905

Halozyme

Therapeutics,

Inc.*(a)

2,600

143,676

Immunovant,

Inc.*(a)

5,300

154,071

Inozyme

Pharma,

Inc.*(a)

24,300

140,940

Iovance

Biotherapeutics,

Inc.*(a)

12,700

110,871

Janux

Therapeutics,

Inc.*

7,400

300,440

Kiniksa

Pharmaceuticals

International

plc,

Class

A*

5,854

155,716

Krystal

Biotech,

Inc.*(a)

600

125,076

Myriad

Genetics,

Inc.*

8,000

223,760

Nkarta,

Inc.*

7,904

50,823

Protagonist

Therapeutics,

Inc.*(a)

3,000

112,320

REVOLUTION

Medicines,

Inc.*(a)

2,600

118,664

Tenaya

Therapeutics,

Inc.*

17,912

62,692

Veracyte,

Inc.*(a)

4,900

117,600

XOMA

Royalty

Corp.*(a)

5,536

148,143

2,900,427

Broadline

Retail

0

.5

%

Ollie's

Bargain

Outlet

Holdings,

Inc.*

5,300

517,492

Building

Products

2

.0

%

Griffon

Corp.(a)

10,317

743,443

Masterbrand,

Inc.*

37,100

669,655

Resideo

Technologies,

Inc.*

33,603

763,460

2,176,558

Capital

Markets

1

.4

%

BGC

Group,

Inc.,

Class

A

23,400

215,514

Perella

Weinberg

Partners,

Class

A

9,200

173,880

StoneX

Group,

Inc.*

4,800

400,032

Virtus

Investment

Partners,

Inc.

3,100

700,600

1,490,026

Chemicals

2

.4

%

Avient

Corp.

3,680

166,483

Core

Molding

Technologies,

Inc.*

3,000

55,350

Element

Solutions,

Inc.

9,100

245,245

Innospec,

Inc.

1,600

209,824

Mativ

Holdings,

Inc.

20,645

394,113

Minerals

Technologies,

Inc.

8,400

658,392

Orion

SA

23,400

576,108

Rayonier

Advanced

Materials,

Inc.*

46,700

310,555

2,616,070

2

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bailard

Cognitive

Value

Fund

Common

Stocks

Shares

Value

($)

Commercial

Services

&

Supplies

3

.5

%

Aris

Water

Solutions,

Inc.,

Class

A

10,010

177,277

Brady

Corp.,

Class

A

1,199

85,860

BrightView

Holdings,

Inc.*(a)

31,300

450,407

Brink's

Co.

(The)

5,900

648,941

CompX

International,

Inc.

4,400

112,816

Deluxe

Corp.

33,926

827,116

Enviri

Corp.*

2,224

26,288

HNI

Corp.

5,500

302,225

MillerKnoll,

Inc.(a)

19,078

591,800

OPENLANE,

Inc.*(a)

8,600

153,768

Steelcase,

Inc.,

Class

A

7,400

107,226

Virco

Mfg.

Corp.

19,045

335,192

3,818,916

Communications

Equipment

0

.7

%

ADTRAN

Holdings,

Inc.

33,429

226,314

Harmonic,

Inc.*

18,000

263,880

Ituran

Location

and

Control

Ltd.

10,500

277,935

768,129

Construction

&

Engineering

1

.2

%

Argan,

Inc.

4,000

315,720

MDU

Resources

Group,

Inc.

20,688

557,335

Northwest

Pipe

Co.*

3,008

114,755

Orion

Group

Holdings,

Inc.*(a)

2,400

19,704

Primoris

Services

Corp.

5,100

287,997

1,295,511

Consumer

Finance

0

.5

%

Ally

Financial,

Inc.

12,985

584,455

Consumer

Staples

Distribution

&

Retail

0

.9

%

Andersons,

Inc.

(The)

13,100

714,343

Village

Super

Market,

Inc.,

Class

A

10,089

319,619

1,033,962

Containers

&

Packaging

1

.5

%

Ardagh

Metal

Packaging

SA

92,375

339,940

Greif,

Inc.,

Class

A

8,200

546,776

Myers

Industries,

Inc.

7,800

116,220

Pactiv

Evergreen,

Inc.

47,500

624,150

1,627,086

Diversified

Consumer

Services

1

.3

%

Frontdoor,

Inc.*

5,800

228,868

Graham

Holdings

Co.,

Class

B

353

273,522

Laureate

Education,

Inc.

19,900

308,450

OneSpaWorld

Holdings

Ltd.*(a)

20,000

321,800

Universal

Technical

Institute,

Inc.*

17,200

325,768

1,458,408

Diversified

REITs

1

.1

%

Alexander

&

Baldwin,

Inc.

5,800

114,318

Essential

Properties

Realty

Trust,

Inc.

30,273

895,778

Modiv

Industrial,

Inc.,

Class

C

14,422

214,599

1,224,695

Diversified

Telecommunication

Services

0

.7

%

Bandwidth,

Inc.,

Class

A*

14,500

330,890

Common

Stocks

Shares

Value

($)

Diversified

Telecommunication

Services

Liberty

Latin

America

Ltd.,

Class

A*

44,200

463,216

794,106

Electric

Utilities

0

.5

%

ALLETE,

Inc.

5,200

335,400

Genie

Energy

Ltd.,

Class

B

15,835

268,562

603,962

Electrical

Equipment

0

.9

%

American

Superconductor

Corp.*

12,938

312,582

Broadwind,

Inc.*

33,825

110,270

Powell

Industries,

Inc.(a)

2,061

378,461

Ultralife

Corp.*

19,131

229,189

1,030,502

Electronic

Equipment,

Instruments

&

Components

1

.9

%

Celestica,

Inc.*

7,040

369,178

Daktronics,

Inc.*

32,600

488,348

ePlus,

Inc.*

1,400

128,688

Fabrinet*

1,200

264,672

Napco

Security

Technologies,

Inc.

500

27,905

PC

Connection,

Inc.

10,700

765,799

SigmaTron

International,

Inc.*

6,500

21,775

2,066,365

Energy

Equipment

&

Services

1

.0

%

ChampionX

Corp.

7,900

270,654

Geospace

Technologies

Corp.*

11,400

106,362

Liberty

Energy,

Inc.,

Class

A(a)

31,736

766,424

1,143,440

Financial

Services

4

.1

%

Alerus

Financial

Corp.

13,500

303,075

Banco

Latinoamericano

de

Comercio

Exterior

SA,

Class

E

13,670

441,951

Enact

Holdings,

Inc.

16,500

561,495

Essent

Group

Ltd.

3,900

245,076

Euronet

Worldwide,

Inc.*

5,600

571,144

HA

Sustainable

Infrastructure

Capital,

Inc.(a)

11,400

373,578

MGIC

Investment

Corp.

23,240

577,282

Mr.

Cooper

Group,

Inc.*(a)

8,700

781,956

Onity

Group,

Inc.*

200

5,846

Priority

Technology

Holdings,

Inc.*(a)

9,352

55,457

Radian

Group,

Inc.

8,200

304,220

Repay

Holdings

Corp.,

Class

A*(a)

16,000

153,920

Voya

Financial,

Inc.

2,395

174,188

4,549,188

Food

Products

1

.9

%

Adecoagro

SA

26,900

259,854

Freshpet,

Inc.*(a)

2,700

328,590

Ingredion,

Inc.

5,725

712,018

John

B

Sanfilippo

&

Son,

Inc.

800

83,896

Lifeway

Foods,

Inc.*

19,800

244,134

Post

Holdings,

Inc.*(a)

3,900

426,504

2,054,996

Nationwide

Bailard

Cognitive

Value

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

3

Common

Stocks

Shares

Value

($)

Gas

Utilities

1

.1

%

Brookfield

Infrastructure

Corp.,

Class

A

6,900

268,410

National

Fuel

Gas

Co.(a)

2,600

152,334

Spire,

Inc.

1,500

99,885

UGI

Corp.

29,100

721,098

1,241,727

Ground

Transportation

0

.2

%

ArcBest

Corp.(a)

1,800

226,890

Health

Care

Equipment

&

Supplies

1

.2

%

Bioventus,

Inc.,

Class

A*

46,100

323,161

Electromed,

Inc.*

3,900

60,996

iRadimed

Corp.

1,300

60,723

Myomo,

Inc.*(a)

33,905

161,388

Surmodics,

Inc.*

4,023

166,552

Tactile

Systems

Technology,

Inc.*(a)

21,800

278,386

Zimvie,

Inc.*

10,600

224,084

1,275,290

Health

Care

Providers

&

Services

1

.7

%

Pennant

Group,

Inc.

(The)*

10,900

324,929

PetIQ,

Inc.,

Class

A*

13,500

295,380

Select

Medical

Holdings

Corp.

8,400

333,984

Tenet

Healthcare

Corp.*

4,696

702,991

Viemed

Healthcare,

Inc.*

27,902

201,174

1,858,458

Health

Care

REITs

0

.9

%

CareTrust

REIT,

Inc.

30,000

808,800

Sabra

Health

Care

REIT,

Inc.

10,762

174,667

983,467

Health

Care

Technology

0

.2

%

HealthStream,

Inc.(a)

9,180

272,738

Hotel

&

Resort

REITs

1

.5

%

Apple

Hospitality

REIT,

Inc.

11,700

173,043

Park

Hotels

&

Resorts,

Inc.

44,200

665,652

Ryman

Hospitality

Properties,

Inc.

6,600

663,366

Sunstone

Hotel

Investors,

Inc.

12,900

133,644

1,635,705

Hotels,

Restaurants

&

Leisure

0

.8

%

Despegar.com

Corp.*

4,900

56,938

Travel

+

Leisure

Co.

12,900

594,561

Xponential

Fitness,

Inc.,

Class

A*(a)

13,200

226,644

878,143

Household

Durables

4

.3

%

Green

Brick

Partners,

Inc.*

3,593

262,828

KB

Home

9,600

826,368

Lifetime

Brands,

Inc.(a)

13,600

117,504

M/I

Homes,

Inc.*

5,600

934,248

Meritage

Homes

Corp.

3,795

769,892

Skyline

Champion

Corp.*

2,857

232,874

Taylor

Morrison

Home

Corp.,

Class

A*

11,800

791,544

Traeger,

Inc.*

29,400

71,736

Tri

Pointe

Homes,

Inc.*

17,333

784,318

4,791,312

Common

Stocks

Shares

Value

($)

Independent

Power

and

Renewable

Electricity

Producers

0

.4

%

Altus

Power,

Inc.,

Class

A*

29,000

121,800

Ormat

Technologies,

Inc.(a)

3,600

279,504

401,304

Industrial

REITs

0

.3

%

EastGroup

Properties,

Inc.

1,200

224,388

Industrial

Logistics

Properties

Trust

25,900

133,126

357,514

Insurance

2

.8

%

Axis

Capital

Holdings

Ltd.

7,400

560,550

CNO

Financial

Group,

Inc.

23,700

826,182

Fidelis

Insurance

Holdings

Ltd.

41,600

740,064

Hamilton

Insurance

Group

Ltd.,

Class

B*

33,600

585,648

Universal

Insurance

Holdings,

Inc.

16,800

332,808

3,045,252

IT

Services

0

.3

%

Crexendo,

Inc.*

36,000

150,120

Information

Services

Group,

Inc.

64,360

223,329

373,449

Leisure

Products

0

.3

%

JAKKS

Pacific,

Inc.*

13,700

288,248

Life

Sciences

Tools

&

Services

0

.1

%

Medpace

Holdings,

Inc.*

300

114,756

Machinery

2

.9

%

Eastern

Co.

(The)(a)

6,300

185,472

Flowserve

Corp.

11,600

586,380

Gates

Industrial

Corp.

plc*(a)

24,839

461,757

Hillman

Solutions

Corp.*

16,900

171,535

Hyster-Yale,

Inc.

4,400

359,656

Mayville

Engineering

Co.,

Inc.*

12,046

230,199

Park-Ohio

Holdings

Corp.

10,599

330,901

Proto

Labs,

Inc.*

11,800

410,876

Terex

Corp.

3,700

234,062

Trinity

Industries,

Inc.

7,000

231,420

Twin

Disc,

Inc.

3,000

43,260

3,245,518

Marine

Transportation

0

.2

%

Safe

Bulkers,

Inc.

43,600

220,616

Media

1

.4

%

Gannett

Co.,

Inc.*(a)

45,200

221,932

Gray

Television,

Inc.

75,355

484,533

Harte

Hanks,

Inc.*

8,900

75,116

Nexstar

Media

Group,

Inc.,

Class

A(a)

1,300

240,227

Stagwell,

Inc.,

Class

A*

38,300

255,844

Townsquare

Media,

Inc.,

Class

A(a)

23,190

280,135

1,557,787

Metals

&

Mining

0

.3

%

Commercial

Metals

Co.

2,300

138,230

Olympic

Steel,

Inc.

3,929

199,122

337,352

4

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bailard

Cognitive

Value

Fund

Common

Stocks

Shares

Value

($)

Mortgage

Real

Estate

Investment

Trusts

(REITs)

1

.3

%

Ladder

Capital

Corp.,

Class

A

33,000

396,000

MFA

Financial,

Inc.

38,200

427,458

Seven

Hills

Realty

Trust

20,500

274,495

Starwood

Property

Trust,

Inc.

13,100

261,345

TPG

RE

Finance

Trust,

Inc.

11,800

103,132

1,462,430

Multi-Utilities

1

.7

%

Avista

Corp.

19,000

744,420

Black

Hills

Corp.

11,601

685,039

Northwestern

Energy

Group,

Inc.

8,200

440,914

1,870,373

Office

REITs

0

.7

%

COPT

Defense

Properties

17,400

504,078

Cousins

Properties,

Inc.

4,072

112,021

SL

Green

Realty

Corp.

1,740

115,953

732,052

Oil,

Gas

&

Consumable

Fuels

7

.4

%

Ardmore

Shipping

Corp.

16,939

367,238

Berry

Corp.

40,000

274,400

Centrus

Energy

Corp.,

Class

A*

4,900

214,081

Chord

Energy

Corp.

3,217

552,230

Civitas

Resources,

Inc.

3,100

216,256

CNX

Resources

Corp.*(a)

13,300

352,051

Dorian

LPG

Ltd.(a)

4,300

175,698

Excelerate

Energy,

Inc.,

Class

A

19,100

384,483

Gulfport

Energy

Corp.*

4,600

677,166

International

Seaways,

Inc.

12,714

711,984

Magnolia

Oil

&

Gas

Corp.,

Class

A(a)

8,500

231,540

Matador

Resources

Co.

8,692

534,384

Murphy

Oil

Corp.(a)

16,987

702,922

Riley

Exploration

Permian,

Inc.

10,100

295,829

Scorpio

Tankers,

Inc.

9,300

713,124

SM

Energy

Co.(a)

9,700

448,140

Teekay

Corp.*

28,462

246,766

Teekay

Tankers

Ltd.,

Class

A

12,114

792,740

VAALCO

Energy,

Inc.(a)

40,900

292,844

8,183,876

Paper

&

Forest

Products

0

.3

%

Clearwater

Paper

Corp.*

5,700

316,179

Passenger

Airlines

0

.6

%

SkyWest,

Inc.*

8,900

711,466

Personal

Care

Products

0

.2

%

Nature's

Sunshine

Products,

Inc.*(a)

13,061

223,474

Pharmaceuticals

1

.9

%

Amneal

Pharmaceuticals,

Inc.*

7,700

56,441

Amphastar

Pharmaceuticals,

Inc.*(a)

2,800

121,856

ANI

Pharmaceuticals,

Inc.*

2,000

131,440

Biote

Corp.,

Class

A*(a)

19,506

154,683

Collegium

Pharmaceutical,

Inc.*

3,388

130,675

Corcept

Therapeutics,

Inc.*(a)

4,100

158,547

Evolus,

Inc.*

7,700

95,634

Common

Stocks

Shares

Value

($)

Pharmaceuticals

Harmony

Biosciences

Holdings,

Inc.*

3,500

118,510

Ligand

Pharmaceuticals,

Inc.*(a)

1,400

152,586

Mind

Medicine

MindMed,

Inc.*(a)

24,100

223,166

Pacira

BioSciences,

Inc.*

2,600

53,690

Prestige

Consumer

Healthcare,

Inc.*

2,378

168,386

SIGA

Technologies,

Inc.

14,300

142,714

Supernus

Pharmaceuticals,

Inc.*(a)

3,700

110,334

Theravance

Biopharma,

Inc.*

11,400

115,254

Trevi

Therapeutics,

Inc.*(a)

40,900

130,062

2,063,978

Professional

Services

0

.5

%

CSG

Systems

International,

Inc.

400

18,736

Mistras

Group,

Inc.*

30,091

300,910

Upwork,

Inc.*

19,000

230,280

549,926

Real

Estate

Management

&

Development

0

.7

%

Newmark

Group,

Inc.,

Class

A

61,001

791,793

Residential

REITs

0

.4

%

Bluerock

Homes

Trust,

Inc.

2,400

44,784

Independence

Realty

Trust,

Inc.

9,800

182,770

UMH

Properties,

Inc.

10,000

177,600

405,154

Retail

REITs

3

.6

%

Brixmor

Property

Group,

Inc.

35,100

893,997

Kite

Realty

Group

Trust

37,100

914,886

Macerich

Co.

(The)

30,300

485,103

Tanger,

Inc.

24,500

708,050

Urban

Edge

Properties

12,800

259,840

Whitestone

REIT

47,791

659,516

3,921,392

Semiconductors

&

Semiconductor

Equipment

0

.7

%

Amkor

Technology,

Inc.

16,740

546,728

Power

Integrations,

Inc.(a)

2,800

204,512

751,240

Software

1

.6

%

ACI

Worldwide,

Inc.*

12,900

557,667

Informatica,

Inc.,

Class

A*

400

9,576

LiveRamp

Holdings,

Inc.*

700

21,196

Mitek

Systems,

Inc.*(a)

17,700

235,587

OneSpan,

Inc.*

21,800

322,640

Verint

Systems,

Inc.*

6,202

224,140

Viant

Technology,

Inc.,

Class

A*

37,672

438,126

1,808,932

Specialized

REITs

0

.6

%

Global

Self

Storage,

Inc.

21,642

108,859

Outfront

Media,

Inc.

12,600

204,372

Safehold,

Inc.

7,800

180,492

Uniti

Group,

Inc.

39,100

150,144

643,867

Nationwide

Bailard

Cognitive

Value

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

5

Common

Stocks

Shares

Value

($)

Specialty

Retail

2

.8

%

Abercrombie

&

Fitch

Co.,

Class

A*

2,000

294,960

American

Eagle

Outfitters,

Inc.

(a)

14,800

326,340

Boot

Barn

Holdings,

Inc.*(a)

2,688

358,794

Caleres,

Inc.(a)

7,600

293,056

Group

1

Automotive,

Inc.(a)

1,300

475,436

Guess?,

Inc.

9,400

226,070

J

Jill,

Inc.

5,600

215,320

Signet

Jewelers

Ltd.(a)

2,500

210,325

Urban

Outfitters,

Inc.*(a)

7,300

336,165

Winmark

Corp.(a)

771

305,039

3,041,505

Technology

Hardware,

Storage

&

Peripherals

0

.5

%

CompoSecure,

Inc.,

Class

A(a)

13,500

110,025

CPI

Card

Group,

Inc.*

1,900

55,727

IonQ,

Inc.*(a)

12,600

102,690

Turtle

Beach

Corp.*

17,564

254,151

522,593

Trading

Companies

&

Distributors

3

.0

%

Boise

Cascade

Co.

5,456

775,243

DNOW,

Inc.*(a)

23,300

357,888

DXP

Enterprises,

Inc.*

3,000

164,280

H&E

Equipment

Services,

Inc.

4,600

240,580

Karat

Packaging,

Inc.(a)

9,000

268,830

MRC

Global,

Inc.*

56,810

822,609

WESCO

International,

Inc.

3,935

688,428

3,317,858

Wireless

Telecommunication

Services

0

.4

%

Spok

Holdings,

Inc.(a)

17,317

265,470

United

States

Cellular

Corp.*(a)

3,700

198,875

464,345

Total

Common

Stocks

(cost

$81,957,785)

108,530,433

Exchange

Traded

Funds

1

.1

%

Equity

Funds  1.1%

Invesco

S&P

SmallCap

600

Pure

Value

ETF

1,100

123,667

Vanguard

Small-Cap

Value

ETF(a)

5,500

1,090,815

1,214,482

Total

Exchange

Traded

Funds

(cost

$1,068,539)

1,214,482

Rights

0

.0

%

†

Number

of

Rights

Biotechnology

0

.0

%

†

Akouos,

Inc.,

CVR*^∞(a)

21,302

0

Chinook

Therapeutics,

Inc.,

CVR*^∞

1,992

0

0

Rights

Number

of

Rights

Value

($)

Diversified

Consumer

Services

0

.0

%

†

Jounce

Therapeutics,

Inc.

CVR*^∞

90,200

0

Total

Rights

(cost

$16,828)

0

Repurchase

Agreements

7

.9

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,727,800,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$5,842,357.(b)

5,726,950

5,726,950

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,444,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$3,060,452.(b)

3,000,000

3,000,000

Total

Repurchase

Agreements

(cost

$8,726,950)

8,726,950

Total

Investments

(cost

$91,770,102)

—

107.5%

118,471,865

Liabilities

in

excess

of

other

assets

—

(7.5)%

(

8,216,241

)

NET

ASSETS

—

100.0%

$

110,255,624

*

Denotes

a

non-income

producing

security.

^

Value

determined

using

significant

unobservable

inputs.

∞

Fair

valued

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$14,069,297,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$8,726,950

and

by

$5,559,827

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

8/15/2024

–

2/15/2054,

a

total

value

of

$14,286,777.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$8,726,950.

CVR

Contingent

Value

Rights

ETF

Exchange

Traded

Fund

REIT

Real

Estate

Investment

Trust

6

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bailard

Cognitive

Value

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

Bailard

Cognitive

Value

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

7

The

FVC

continues

to

evaluate

any

information

that

could

cause

an

adjustment

to

the

fair

value

for

these

investments,

such

as

market

news,

the

progress

of

judicial

and

regulatory

proceedings,

and

subadviser

recommendations. 

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

108,530,433

$

–

$

–

$

108,530,433

Exchange

Traded

Funds

1,214,482

–

–

1,214,482

Repurchase

Agreements

–

8,726,950

–

8,726,950

Rights

–

–

–

–

Total

$

109,744,915

$

8,726,950

$

–

$

118,471,865

As

of

July

31,

2024,

the

fund

held

three

rights

investments

that

were

categorized

as

Level

3

investments

which

were

each

valued

at

$0.

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

8

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bailard

Technology

&

Science

Fund

Common

Stocks

99

.7

%

Shares

Value

($)

Biotechnology

1

.1

%

Vertex

Pharmaceuticals,

Inc.*

4,300

2,131,596

Broadline

Retail

4

.1

%

Amazon.com,

Inc.*

41,515

7,762,475

Electronic

Equipment,

Instruments

&

Components

4

.2

%

Insight

Enterprises,

Inc.*(a)

28,218

6,334,941

TE

Connectivity

Ltd.

10,580

1,632,812

7,967,753

Entertainment

2

.1

%

Spotify

Technology

SA*

11,805

4,060,212

Financial

Services

4

.2

%

Fiserv,

Inc.*(a)

30,742

5,028,469

Visa,

Inc.,

Class

A(a)

11,095

2,947,609

7,976,078

Ground

Transportation

2

.6

%

Uber

Technologies,

Inc.*

75,145

4,844,598

Health

Care

Equipment

&

Supplies

1

.7

%

Dexcom,

Inc.*

15,545

1,054,262

Merit

Medical

Systems,

Inc.*

24,350

2,076,811

3,131,073

Interactive

Media

&

Services

7

.1

%

Alphabet,

Inc.,

Class

A

19,546

3,352,921

Meta

Platforms,

Inc.,

Class

A

21,340

10,132,872

13,485,793

IT

Services

1

.4

%

Shopify,

Inc.,

Class

A*

42,776

2,617,891

Life

Sciences

Tools

&

Services

2

.7

%

Bio-Techne

Corp.

12,900

1,052,511

Danaher

Corp.

14,805

4,102,169

5,154,680

Professional

Services

1

.0

%

Booz

Allen

Hamilton

Holding

Corp.,

Class

A

13,548

1,941,564

Semiconductors

&

Semiconductor

Equipment

30

.0

%

KLA

Corp.

11,860

9,761,610

Lam

Research

Corp.

7,200

6,632,928

Micron

Technology,

Inc.

43,818

4,812,093

NVIDIA

Corp.

174,386

20,406,650

NXP

Semiconductors

NV

12,145

3,196,078

QUALCOMM,

Inc.

23,946

4,333,028

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.,

ADR-TW

36,190

6,000,302

Texas

Instruments,

Inc.(a)

8,580

1,748,690

56,891,379

Software

31

.4

%

Adobe,

Inc.*

9,335

5,149,653

Cadence

Design

Systems,

Inc.*

16,515

4,420,405

Crowdstrike

Holdings,

Inc.,

Class

A*

7,350

1,704,906

Datadog,

Inc.,

Class

A*

35,675

4,153,997

HubSpot,

Inc.*

8,760

4,353,983

Intuit,

Inc.

7,280

4,712,708

Microsoft

Corp.

43,380

18,148,023

Palo

Alto

Networks,

Inc.*

18,635

6,051,343

ServiceNow,

Inc.*

3,990

3,249,416

Smartsheet,

Inc.,

Class

A*

77,929

3,737,475

Common

Stocks

Shares

Value

($)

Software

Varonis

Systems,

Inc.,

Class

B*(a)

73,040

4,026,695

59,708,604

Technology

Hardware,

Storage

&

Peripherals

6

.1

%

Apple,

Inc.

31,053

6,896,250

Pure

Storage,

Inc.,

Class

A*

79,580

4,769,230

11,665,480

Total

Common

Stocks

(cost

$63,268,420)

189,339,176

Repurchase

Agreement

2

.3

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$4,359,115,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$4,446,299.(b)

4,358,468

4,358,468

Total

Repurchase

Agreement

(cost

$4,358,468)

4,358,468

Total

Investments

(cost

$67,626,888)

—

102.0%

193,697,644

Liabilities

in

excess

of

other

assets

—

(2.0)%

(

3,752,403

)

NET

ASSETS

—

100.0%

$

189,945,241

*

Denotes

a

non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$11,234,757,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$4,358,468

and

by

$7,130,239

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

6.13%,

and

maturity

dates

ranging

from

8/15/2024

–

2/15/2054,

a

total

value

of

$11,488,707.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$4,358,468.

ADR

American

Depositary

Receipt

TW

Taiwan

Nationwide

Bailard

Technology

&

Science

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

9

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

10

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bailard

Technology

&

Science

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

189,339,176

$

–

$

–

$

189,339,176

Repurchase

Agreement

–

4,358,468

–

4,358,468

Total

$

189,339,176

$

4,358,468

$

–

$

193,697,644

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

11

Common

Stocks

87

.9

%

Shares

Value

($)

Aerospace

&

Defense

1

.7

%

Axon

Enterprise,

Inc.*

1,923

576,919

Boeing

Co.

(The)*

15,039

2,866,434

General

Dynamics

Corp.

6,001

1,792,559

General

Electric

Co.

28,535

4,856,657

Howmet

Aerospace,

Inc.

10,134

969,824

Huntington

Ingalls

Industries,

Inc.

1,010

282,780

L3Harris

Technologies,

Inc.

4,972

1,128,097

Lockheed

Martin

Corp.

5,567

3,016,869

Northrop

Grumman

Corp.

3,648

1,766,799

RTX

Corp.(a)

34,566

4,061,159

Textron,

Inc.

4,958

460,598

TransDigm

Group,

Inc.

1,468

1,899,915

23,678,610

Air

Freight

&

Logistics

0

.4

%

CH

Robinson

Worldwide,

Inc.

3,071

273,473

Expeditors

International

of

Washington,

Inc.

3,698

461,584

FedEx

Corp.

5,902

1,783,879

United

Parcel

Service,

Inc.,

Class

B

18,872

2,460,343

4,979,279

Automobile

Components

0

.0

%

†

Aptiv

plc*

6,996

485,453

BorgWarner,

Inc.(a)

5,253

185,483

670,936

Automobiles

1

.4

%

Ford

Motor

Co.

101,037

1,093,220

General

Motors

Co.

29,815

1,321,401

Tesla,

Inc.*

72,329

16,785,391

19,200,012

Banks

2

.9

%

Bank

of

America

Corp.

177,361

7,149,422

Citigroup,

Inc.

49,454

3,208,576

Citizens

Financial

Group,

Inc.

11,745

501,159

Fifth

Third

Bancorp

17,517

741,670

Huntington

Bancshares,

Inc.

38,834

580,568

JPMorgan

Chase

&

Co.

74,859

15,929,995

KeyCorp(a)

25,703

414,590

M&T

Bank

Corp.

4,301

740,503

PNC

Financial

Services

Group,

Inc.

(The)

10,360

1,876,196

Regions

Financial

Corp.

23,736

530,974

Truist

Financial

Corp.

35,199

1,573,043

US

Bancorp

41,037

1,841,741

Wells

Fargo

&

Co.

90,882

5,392,938

40,481,375

Beverages

1

.2

%

Brown-Forman

Corp.,

Class

B(a)

4,882

220,471

Coca-Cola

Co.

(The)

101,071

6,745,479

Constellation

Brands,

Inc.,

Class

A

4,254

1,042,911

Keurig

Dr

Pepper,

Inc.

27,187

931,970

Molson

Coors

Beverage

Co.,

Class

B(a)

4,586

242,370

Monster

Beverage

Corp.*

18,677

960,932

PepsiCo,

Inc.

35,838

6,188,147

16,332,280

Common

Stocks

Shares

Value

($)

Biotechnology

1

.7

%

AbbVie,

Inc.

46,033

8,530,836

Amgen,

Inc.

13,984

4,649,261

Biogen,

Inc.*

3,719

792,891

Gilead

Sciences,

Inc.

32,672

2,485,032

Incyte

Corp.*

4,145

269,715

Moderna,

Inc.*(a)

8,506

1,014,085

Regeneron

Pharmaceuticals,

Inc.*

2,765

2,983,960

Vertex

Pharmaceuticals,

Inc.*

6,705

3,323,803

24,049,583

Broadline

Retail

3

.3

%

Amazon.com,

Inc.*

238,729

44,637,548

eBay,

Inc.

13,462

748,622

Etsy,

Inc.*

3,090

201,283

45,587,453

Building

Products

0

.5

%

A

O

Smith

Corp.

3,140

267,026

Allegion

plc

2,170

296,878

Builders

FirstSource,

Inc.*

3,147

526,713

Carrier

Global

Corp.

22,052

1,501,962

Johnson

Controls

International

plc

17,854

1,277,275

Masco

Corp.

5,845

455,033

Trane

Technologies

plc

5,835

1,950,524

6,275,411

Capital

Markets

2

.6

%

Ameriprise

Financial,

Inc.

2,556

1,099,259

Bank

of

New

York

Mellon

Corp.

(The)

19,130

1,244,789

BlackRock,

Inc.

3,672

3,218,508

Blackstone,

Inc.

18,498

2,629,491

Cboe

Global

Markets,

Inc.

2,846

522,270

Charles

Schwab

Corp.

(The)

39,280

2,560,663

CME

Group,

Inc.

9,261

1,793,948

FactSet

Research

Systems,

Inc.

954

394,088

Franklin

Resources,

Inc.

7,739

176,991

Goldman

Sachs

Group,

Inc.

(The)

8,406

4,278,906

Intercontinental

Exchange,

Inc.

14,901

2,258,396

Invesco

Ltd.

11,223

193,709

KKR

&

Co.,

Inc.

17,599

2,172,597

MarketAxess

Holdings,

Inc.

888

198,495

Moody's

Corp.

4,137

1,888,458

Morgan

Stanley

32,591

3,363,717

MSCI,

Inc.,

Class

A

2,040

1,103,150

Nasdaq,

Inc.

10,171

688,373

Northern

Trust

Corp.

5,493

486,954

Raymond

James

Financial,

Inc.

4,688

543,808

S&P

Global,

Inc.

8,344

4,044,587

State

Street

Corp.

7,996

679,420

T.

Rowe

Price

Group,

Inc.(a)

5,777

659,791

36,200,368

Chemicals

1

.3

%

Air

Products

&

Chemicals,

Inc.

5,883

1,552,230

Albemarle

Corp.(a)

3,146

294,686

Celanese

Corp.,

Class

A

2,592

365,861

CF

Industries

Holdings,

Inc.

4,688

358,116

Corteva,

Inc.

18,599

1,043,404

12

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

Common

Stocks

Shares

Value

($)

Chemicals

Dow,

Inc.

18,814

1,024,799

DuPont

de

Nemours,

Inc.

10,868

909,652

Eastman

Chemical

Co.

2,961

305,960

Ecolab,

Inc.

6,559

1,513,096

FMC

Corp.(a)

3,118

181,966

International

Flavors

&

Fragrances,

Inc.

6,652

661,741

Linde

plc

12,531

5,682,808

LyondellBasell

Industries

NV,

Class

A

6,622

658,624

Mosaic

Co.

(The)

8,555

254,682

PPG

Industries,

Inc.

5,983

759,721

Sherwin-Williams

Co.

(The)

6,081

2,133,215

17,700,561

Commercial

Services

&

Supplies

0

.5

%

Cintas

Corp.

2,271

1,734,908

Copart,

Inc.*

22,415

1,172,977

Republic

Services,

Inc.,

Class

A

5,347

1,039,029

Rollins,

Inc.

7,723

370,009

Veralto

Corp.

5,656

602,703

Waste

Management,

Inc.

9,581

1,941,686

6,861,312

Communications

Equipment

0

.7

%

Arista

Networks,

Inc.*

6,565

2,275,101

Cisco

Systems,

Inc.

105,555

5,114,140

F5,

Inc.*

1,457

296,703

Juniper

Networks,

Inc.

8,638

325,566

Motorola

Solutions,

Inc.

4,375

1,745,275

9,756,785

Construction

&

Engineering

0

.1

%

Quanta

Services,

Inc.

3,716

986,152

Construction

Materials

0

.1

%

Martin

Marietta

Materials,

Inc.

1,626

964,787

Vulcan

Materials

Co.

3,465

951,177

1,915,964

Consumer

Finance

0

.5

%

American

Express

Co.

14,933

3,778,646

Capital

One

Financial

Corp.

9,822

1,487,051

Discover

Financial

Services

6,410

922,976

Synchrony

Financial

10,647

540,761

6,729,434

Consumer

Staples

Distribution

&

Retail

1

.6

%

Costco

Wholesale

Corp.

11,561

9,503,142

Dollar

General

Corp.

5,756

692,965

Dollar

Tree,

Inc.*

5,196

542,150

Kroger

Co.

(The)

17,818

971,081

Sysco

Corp.(a)

12,628

967,936

Target

Corp.

12,002

1,805,221

Walgreens

Boots

Alliance,

Inc.

19,694

233,768

Walmart,

Inc.

111,356

7,643,476

22,359,739

Containers

&

Packaging

0

.2

%

Amcor

plc

39,992

421,116

Avery

Dennison

Corp.

2,081

451,223

Ball

Corp.

8,234

525,576

International

Paper

Co.(a)

9,043

420,319

Packaging

Corp.

of

America

2,330

465,697

Common

Stocks

Shares

Value

($)

Containers

&

Packaging

Smurfit

WestRock

plc*

12,398

555,926

2,839,857

Distributors

0

.1

%

Genuine

Parts

Co.

3,533

519,740

LKQ

Corp.

7,197

298,675

Pool

Corp.(a)

1,046

391,246

1,209,661

Diversified

Telecommunication

Services

0

.6

%

AT&T,

Inc.

186,157

3,583,522

Verizon

Communications,

Inc.

109,728

4,446,179

8,029,701

Electric

Utilities

1

.4

%

Alliant

Energy

Corp.(a)

6,266

348,766

American

Electric

Power

Co.,

Inc.(a)

13,967

1,370,442

Constellation

Energy

Corp.

8,262

1,568,128

Duke

Energy

Corp.

19,901

2,174,582

Edison

International

10,247

819,862

Entergy

Corp.(a)

5,357

621,251

Evergy,

Inc.

5,718

331,644

Eversource

Energy

9,378

608,726

Exelon

Corp.

26,144

972,557

FirstEnergy

Corp.

12,994

544,578

NextEra

Energy,

Inc.

53,522

4,088,546

NRG

Energy,

Inc.

5,646

424,410

PG&E

Corp.

55,960

1,021,270

Pinnacle

West

Capital

Corp.(a)

2,943

251,891

PPL

Corp.

19,704

585,603

Southern

Co.

(The)

28,247

2,359,189

Xcel

Energy,

Inc.

14,074

820,233

18,911,678

Electrical

Equipment

0

.6

%

AMETEK,

Inc.

5,972

1,036,022

Eaton

Corp.

plc

10,364

3,158,843

Emerson

Electric

Co.

14,978

1,754,074

GE

Vernova,

Inc.*

7,268

1,295,448

Generac

Holdings,

Inc.*

1,497

233,053

Hubbell,

Inc.,

Class

B(a)

1,384

547,580

Rockwell

Automation,

Inc.

2,995

834,557

8,859,577

Electronic

Equipment,

Instruments

&

Components

0

.5

%

Amphenol

Corp.,

Class

A

31,666

2,034,857

CDW

Corp.

3,494

762,077

Corning,

Inc.

19,703

788,317

Jabil,

Inc.

3,211

361,784

Keysight

Technologies,

Inc.*

4,439

619,551

TE

Connectivity

Ltd.

7,928

1,223,528

Teledyne

Technologies,

Inc.*

1,214

512,138

Trimble,

Inc.*

6,126

334,112

Zebra

Technologies

Corp.,

Class

A*

1,316

462,166

7,098,530

Energy

Equipment

&

Services

0

.3

%

Baker

Hughes

Co.,

Class

A

26,100

1,010,592

Halliburton

Co.

23,509

815,292

Schlumberger

NV

37,411

1,806,577

3,632,461

Entertainment

1

.0

%

Electronic

Arts,

Inc.

6,463

975,525

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

13

Common

Stocks

Shares

Value

($)

Entertainment

Live

Nation

Entertainment,

Inc.*(a)

3,750

360,712

Netflix,

Inc.*

11,233

7,058,256

Take-Two

Interactive

Software,

Inc.*

4,230

636,742

Walt

Disney

Co.

(The)

47,523

4,452,430

Warner

Bros

Discovery,

Inc.*

57,874

500,610

13,984,275

Financial

Services

3

.5

%

Berkshire

Hathaway,

Inc.,

Class

B*

47,193

20,694,131

Corpay,

Inc.*

1,878

548,038

Fidelity

National

Information

Services,

Inc.

14,316

1,099,898

Fiserv,

Inc.*(a)

15,253

2,494,933

Global

Payments,

Inc.

6,491

659,745

Jack

Henry

&

Associates,

Inc.

(a)

1,981

339,702

Mastercard,

Inc.,

Class

A

21,402

9,924,321

PayPal

Holdings,

Inc.*

26,934

1,771,719

Visa,

Inc.,

Class

A(a)

41,035

10,901,768

48,434,255

Food

Products

0

.6

%

Archer-Daniels-Midland

Co.

12,458

772,521

Bunge

Global

SA

3,650

384,090

Campbell

Soup

Co.

5,564

260,729

Conagra

Brands,

Inc.(a)

11,848

359,231

General

Mills,

Inc.

14,907

1,000,856

Hershey

Co.

(The)(a)

3,874

765,038

Hormel

Foods

Corp.

6,886

221,109

J

M

Smucker

Co.

(The)

2,552

301,008

Kellanova

6,614

384,604

Kraft

Heinz

Co.

(The)

20,669

727,755

Lamb

Weston

Holdings,

Inc.(a)

3,948

236,959

McCormick

&

Co.,

Inc.

(Non-Voting)

6,566

505,648

Mondelez

International,

Inc.,

Class

A

34,813

2,379,469

Tyson

Foods,

Inc.,

Class

A

7,737

471,183

8,770,200

Gas

Utilities

0

.0

%

†

Atmos

Energy

Corp.

3,771

482,235

Ground

Transportation

0

.9

%

CSX

Corp.

51,576

1,810,318

JB

Hunt

Transport

Services,

Inc.(a)

2,194

379,891

Norfolk

Southern

Corp.(a)

5,807

1,449,195

Old

Dominion

Freight

Line,

Inc.(a)

4,601

967,038

Uber

Technologies,

Inc.*

54,470

3,511,681

Union

Pacific

Corp.

15,893

3,921,280

12,039,403

Health

Care

Equipment

&

Supplies

2

.0

%

Abbott

Laboratories

45,349

4,804,273

Align

Technology,

Inc.*

1,787

414,370

Baxter

International,

Inc.

13,820

495,032

Becton

Dickinson

&

Co.

7,633

1,840,011

Boston

Scientific

Corp.*

38,325

2,831,451

Cooper

Cos.,

Inc.

(The)*

5,405

504,449

Common

Stocks

Shares

Value

($)

Health

Care

Equipment

&

Supplies

Dexcom,

Inc.*

10,184

690,679

Edwards

Lifesciences

Corp.*

15,788

995,433

GE

HealthCare

Technologies,

Inc.(a)

11,147

943,371

Hologic,

Inc.*

6,102

497,984

IDEXX

Laboratories,

Inc.*

2,186

1,040,798

Insulet

Corp.*

1,825

354,689

Intuitive

Surgical,

Inc.*

9,247

4,111,309

Medtronic

plc

34,441

2,766,301

ResMed,

Inc.

3,717

792,650

Solventum

Corp.*(a)

3,655

215,206

STERIS

plc

2,513

600,004

Stryker

Corp.

8,838

2,894,003

Teleflex,

Inc.

1,314

290,289

Zimmer

Biomet

Holdings,

Inc.

5,378

598,840

27,681,142

Health

Care

Providers

&

Services

2

.3

%

Cardinal

Health,

Inc.

6,463

651,664

Cencora,

Inc.

4,327

1,029,307

Centene

Corp.*

14,064

1,081,803

Cigna

Group

(The)

7,385

2,574,928

CVS

Health

Corp.

32,936

1,987,029

DaVita,

Inc.*

1,221

166,813

Elevance

Health,

Inc.

6,059

3,223,570

HCA

Healthcare,

Inc.

5,006

1,817,428

Henry

Schein,

Inc.*

3,593

258,480

Humana,

Inc.

3,087

1,116,290

Labcorp

Holdings,

Inc.

2,137

460,395

McKesson

Corp.

3,358

2,071,953

Molina

Healthcare,

Inc.*

1,517

517,707

Quest

Diagnostics,

Inc.

3,031

431,311

UnitedHealth

Group,

Inc.

23,993

13,823,807

Universal

Health

Services,

Inc.,

Class

B(a)

1,573

336,245

31,548,730

Health

Care

REITs

0

.2

%

Alexandria

Real

Estate

Equities,

Inc.

4,104

481,358

Healthpeak

Properties,

Inc.

19,197

418,879

Ventas,

Inc.

10,106

550,171

Welltower,

Inc.

15,377

1,710,691

3,161,099

Hotel

&

Resort

REITs

0

.0

%

†

Host

Hotels

&

Resorts,

Inc.

17,048

298,510

Hotels,

Restaurants

&

Leisure

1

.6

%

Airbnb,

Inc.,

Class

A*

11,658

1,626,990

Booking

Holdings,

Inc.(a)

884

3,284,069

Caesars

Entertainment,

Inc.*

5,146

205,583

Carnival

Corp.*

27,005

449,903

Chipotle

Mexican

Grill,

Inc.,

Class

A*

35,632

1,935,530

Darden

Restaurants,

Inc.(a)

3,234

473,102

Domino's

Pizza,

Inc.

953

408,551

Expedia

Group,

Inc.*

3,221

411,225

Hilton

Worldwide

Holdings,

Inc.

6,575

1,411,455

Las

Vegas

Sands

Corp.

9,310

369,328

Marriott

International,

Inc.,

Class

A

6,221

1,414,033

McDonald's

Corp.

18,787

4,986,070

14

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

Common

Stocks

Shares

Value

($)

Hotels,

Restaurants

&

Leisure

MGM

Resorts

International*(a)

6,531

280,637

Norwegian

Cruise

Line

Holdings

Ltd.*

10,107

186,272

Royal

Caribbean

Cruises

Ltd.*(a)

6,080

952,858

Starbucks

Corp.

29,523

2,301,318

Wynn

Resorts

Ltd.

2,396

198,437

Yum!

Brands,

Inc.

7,353

976,699

21,872,060

Household

Durables

0

.4

%

DR

Horton,

Inc.

7,846

1,411,731

Garmin

Ltd.

3,922

671,643

Lennar

Corp.,

Class

A

6,366

1,126,336

Mohawk

Industries,

Inc.*

1,194

192,318

NVR,

Inc.*

80

688,598

PulteGroup,

Inc.(a)

5,604

739,728

4,830,354

Household

Products

1

.0

%

Church

&

Dwight

Co.,

Inc.

6,514

638,437

Clorox

Co.

(The)

3,260

430,092

Colgate-Palmolive

Co.

21,240

2,106,796

Kimberly-Clark

Corp.

8,909

1,203,160

Procter

&

Gamble

Co.

(The)

61,525

9,890,759

14,269,244

Independent

Power

and

Renewable

Electricity

Producers

0

.1

%

AES

Corp.

(The)

18,489

328,919

Vistra

Corp.

8,696

688,897

1,017,816

Industrial

Conglomerates

0

.4

%

3M

Co.

14,620

1,864,781

Honeywell

International,

Inc.

16,975

3,475,631

5,340,412

Industrial

REITs

0

.2

%

Prologis,

Inc.

24,135

3,042,217

Insurance

1

.9

%

Aflac,

Inc.

13,632

1,300,220

Allstate

Corp.

(The)

6,914

1,183,124

American

International

Group,

Inc.

17,301

1,370,758

Aon

plc,

Class

A

5,589

1,836,042

Arch

Capital

Group

Ltd.*

9,707

929,737

Arthur

J

Gallagher

&

Co.(a)

5,644

1,600,018

Assurant,

Inc.

1,337

233,801

Brown

&

Brown,

Inc.

5,975

594,094

Chubb

Ltd.

10,664

2,939,638

Cincinnati

Financial

Corp.

4,262

556,703

Everest

Group

Ltd.

1,106

434,514

Globe

Life,

Inc.

2,344

217,383

Hartford

Financial

Services

Group,

Inc.

(The)

7,761

860,850

Loews

Corp.(a)

4,792

383,120

Marsh

&

McLennan

Cos.,

Inc.

12,844

2,858,689

MetLife,

Inc.

15,797

1,214,000

Principal

Financial

Group,

Inc.

5,563

453,440

Progressive

Corp.

(The)

15,227

3,260,405

Prudential

Financial,

Inc.(a)

9,281

1,163,095

Travelers

Cos.,

Inc.

(The)

5,880

1,272,667

W

R

Berkley

Corp.(a)

7,480

412,372

Common

Stocks

Shares

Value

($)

Insurance

Willis

Towers

Watson

plc

2,696

761,027

25,835,697

Interactive

Media

&

Services

5

.5

%

Alphabet,

Inc.,

Class

A

153,125

26,267,063

Alphabet,

Inc.,

Class

C

127,390

22,057,578

Match

Group,

Inc.*

7,200

274,608

Meta

Platforms,

Inc.,

Class

A

57,127

27,125,613

75,724,862

IT

Services

1

.0

%

Accenture

plc,

Class

A

16,390

5,418,862

Akamai

Technologies,

Inc.*(a)

3,769

370,417

Cognizant

Technology

Solutions

Corp.,

Class

A

12,904

976,575

EPAM

Systems,

Inc.*

1,448

311,508

Gartner,

Inc.*

2,067

1,035,960

GoDaddy,

Inc.,

Class

A*

3,727

542,092

International

Business

Machines

Corp.

23,946

4,600,985

VeriSign,

Inc.*(a)

2,228

416,658

13,673,057

Leisure

Products

0

.0

%

†

Hasbro,

Inc.

3,575

230,445

Life

Sciences

Tools

&

Services

1

.2

%

Agilent

Technologies,

Inc.

7,795

1,102,213

Bio-Rad

Laboratories,

Inc.,

Class

A*

562

190,158

Bio-Techne

Corp.

4,233

345,371

Charles

River

Laboratories

International,

Inc.*(a)

1,260

307,566

Danaher

Corp.

17,179

4,759,957

IQVIA

Holdings,

Inc.*

4,722

1,162,698

Mettler-Toledo

International,

Inc.*

545

828,961

Revvity,

Inc.

3,168

397,933

Thermo

Fisher

Scientific,

Inc.

9,951

6,103,346

Waters

Corp.*

1,575

529,641

West

Pharmaceutical

Services,

Inc.

1,899

581,417

16,309,261

Machinery

1

.4

%

Caterpillar,

Inc.

12,749

4,413,704

Cummins,

Inc.

3,476

1,014,297

Deere

&

Co.

6,715

2,497,846

Dover

Corp.

3,617

666,468

Fortive

Corp.

9,099

653,763

IDEX

Corp.

2,089

435,515

Illinois

Tool

Works,

Inc.

7,013

1,734,175

Ingersoll

Rand,

Inc.(a)

10,551

1,059,320

Nordson

Corp.

1,361

340,699

Otis

Worldwide

Corp.

10,573

999,149

PACCAR,

Inc.

13,457

1,327,668

Parker-Hannifin

Corp.

3,323

1,864,735

Pentair

plc

4,417

388,122

Snap-on,

Inc.

1,449

415,906

Stanley

Black

&

Decker,

Inc.

4,129

436,105

Westinghouse

Air

Brake

Technologies

Corp.

4,675

753,376

Xylem,

Inc.

6,341

846,523

19,847,371

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

15

Common

Stocks

Shares

Value

($)

Media

0

.5

%

Charter

Communications,

Inc.,

Class

A*(a)

2,487

944,364

Comcast

Corp.,

Class

A

102,036

4,211,026

Fox

Corp.,

Class

A

6,354

241,706

Fox

Corp.,

Class

B

3,623

128,363

Interpublic

Group

of

Cos.,

Inc.

(The)(a)

10,033

322,762

News

Corp.,

Class

A

9,268

255,611

News

Corp.,

Class

B

3,040

86,610

Omnicom

Group,

Inc.(a)

5,288

518,435

Paramount

Global,

Class

B

12,515

142,921

6,851,798

Metals

&

Mining

0

.3

%

Freeport-McMoRan,

Inc.

38,048

1,727,760

Newmont

Corp.

29,819

1,463,218

Nucor

Corp.

6,198

1,009,902

Steel

Dynamics,

Inc.

3,875

516,228

4,717,108

Multi-Utilities

0

.6

%

Ameren

Corp.

7,048

558,695

CenterPoint

Energy,

Inc.(a)

17,068

473,637

CMS

Energy

Corp.

8,011

519,113

Consolidated

Edison,

Inc.

9,195

896,697

Dominion

Energy,

Inc.(a)

21,852

1,168,208

DTE

Energy

Co.

5,566

670,870

NiSource,

Inc.(a)

11,528

360,250

Public

Service

Enterprise

Group,

Inc.

12,895

1,028,634

Sempra

16,723

1,338,843

WEC

Energy

Group,

Inc.(a)

8,089

696,139

7,711,086

Office

REITs

0

.0

%

†

BXP,

Inc.

4,046

288,520

Oil,

Gas

&

Consumable

Fuels

3

.0

%

APA

Corp.

9,827

306,504

Chevron

Corp.

44,680

7,169,800

ConocoPhillips

30,488

3,390,266

Coterra

Energy,

Inc.

19,260

496,908

Devon

Energy

Corp.

16,670

783,990

Diamondback

Energy,

Inc.(a)

4,693

949,441

EOG

Resources,

Inc.(a)

15,087

1,913,032

EQT

Corp.

13,950

481,414

Exxon

Mobil

Corp.

116,940

13,867,915

Hess

Corp.

7,274

1,115,977

Kinder

Morgan,

Inc.(a)

50,384

1,064,614

Marathon

Oil

Corp.

15,006

420,918

Marathon

Petroleum

Corp.

9,047

1,601,500

Occidental

Petroleum

Corp.

17,342

1,054,740

ONEOK,

Inc.

15,338

1,278,115

Phillips

66

11,005

1,601,007

Targa

Resources

Corp.

5,789

783,136

Valero

Energy

Corp.

8,603

1,391,277

Williams

Cos.,

Inc.

(The)(a)

31,324

1,345,053

41,015,607

Passenger

Airlines

0

.1

%

American

Airlines

Group,

Inc.*(a)

16,914

179,965

Delta

Air

Lines,

Inc.

16,301

701,269

Southwest

Airlines

Co.(a)

16,356

440,631

Common

Stocks

Shares

Value

($)

Passenger

Airlines

United

Airlines

Holdings,

Inc.*

8,510

386,524

1,708,389

Personal

Care

Products

0

.1

%

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

6,038

601,445

Kenvue,

Inc.

50,633

936,204

1,537,649

Pharmaceuticals

3

.2

%

Bristol-Myers

Squibb

Co.

53,238

2,531,999

Catalent,

Inc.*

4,819

285,960

Eli

Lilly

&

Co.

20,811

16,737,663

Johnson

&

Johnson

62,738

9,903,193

Merck

&

Co.,

Inc.

66,026

7,469,522

Pfizer,

Inc.

147,445

4,502,970

Viatris,

Inc.

29,821

359,641

Zoetis,

Inc.,

Class

A

11,853

2,134,014

43,924,962

Professional

Services

0

.6

%

Automatic

Data

Processing,

Inc.

10,782

2,831,569

Broadridge

Financial

Solutions,

Inc.

3,026

647,564

Dayforce,

Inc.*(a)

4,324

256,327

Equifax,

Inc.

3,143

878,060

Jacobs

Solutions,

Inc.

3,146

460,417

Leidos

Holdings,

Inc.

3,485

503,234

Paychex,

Inc.

8,439

1,080,361

Paycom

Software,

Inc.(a)

1,389

231,671

Verisk

Analytics,

Inc.,

Class

A

3,626

949,105

7,838,308

Real

Estate

Management

&

Development

0

.1

%

CBRE

Group,

Inc.,

Class

A*

7,710

868,994

CoStar

Group,

Inc.*

10,659

831,615

1,700,609

Residential

REITs

0

.3

%

AvalonBay

Communities,

Inc.

3,797

778,081

Camden

Property

Trust

2,813

311,540

Equity

Residential

9,136

636,140

Essex

Property

Trust,

Inc.

1,601

445,654

Invitation

Homes,

Inc.

15,413

543,617

Mid-America

Apartment

Communities,

Inc.

3,037

424,481

UDR,

Inc.

8,361

335,025

3,474,538

Retail

REITs

0

.3

%

Federal

Realty

Investment

Trust

1,931

215,596

Kimco

Realty

Corp.

18,014

391,444

Realty

Income

Corp.

22,484

1,291,256

Regency

Centers

Corp.

3,932

264,781

Simon

Property

Group,

Inc.

8,651

1,327,410

3,490,487

Semiconductors

&

Semiconductor

Equipment

10

.0

%

Advanced

Micro

Devices,

Inc.*

42,135

6,087,665

Analog

Devices,

Inc.

13,041

3,017,427

Applied

Materials,

Inc.

21,660

4,596,252

Broadcom,

Inc.

113,558

18,246,499

Enphase

Energy,

Inc.*

3,592

413,475

First

Solar,

Inc.*

2,868

619,459

16

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

Common

Stocks

Shares

Value

($)

Semiconductors

&

Semiconductor

Equipment

Intel

Corp.

110,973

3,411,310

KLA

Corp.

3,489

2,871,691

Lam

Research

Corp.

3,405

3,136,822

Microchip

Technology,

Inc.

13,805

1,225,608

Micron

Technology,

Inc.

28,867

3,170,174

Monolithic

Power

Systems,

Inc.

1,286

1,109,934

NVIDIA

Corp.

641,237

75,037,554

NXP

Semiconductors

NV

6,619

1,741,856

ON

Semiconductor

Corp.*

11,497

899,640

Qorvo,

Inc.*

2,375

284,525

QUALCOMM,

Inc.

29,144

5,273,607

Skyworks

Solutions,

Inc.

4,181

475,045

Teradyne,

Inc.(a)

4,211

552,315

Texas

Instruments,

Inc.(a)

23,735

4,837,430

137,008,288

Software

9

.0

%

Adobe,

Inc.*

11,679

6,442,720

ANSYS,

Inc.*

2,204

691,241

Autodesk,

Inc.*

5,666

1,402,448

Cadence

Design

Systems,

Inc.*

7,002

1,874,155

Crowdstrike

Holdings,

Inc.,

Class

A*

6,062

1,406,142

Fair

Isaac

Corp.*(a)

647

1,035,200

Fortinet,

Inc.*

16,639

965,728

Gen

Digital,

Inc.

13,579

352,918

Intuit,

Inc.

7,299

4,725,008

Microsoft

Corp.

193,747

81,054,057

Oracle

Corp.(a)

41,556

5,794,984

Palo

Alto

Networks,

Inc.*

8,482

2,754,360

PTC,

Inc.*(a)

3,009

535,151

Roper

Technologies,

Inc.

2,810

1,530,747

Salesforce,

Inc.

25,319

6,552,557

ServiceNow,

Inc.*

5,344

4,352,100

Synopsys,

Inc.*

4,026

2,247,796

Tyler

Technologies,

Inc.*

1,142

648,782

124,366,094

Specialized

REITs

0

.9

%

American

Tower

Corp.

12,173

2,682,929

Crown

Castle,

Inc.

11,170

1,229,594

Digital

Realty

Trust,

Inc.

8,458

1,264,386

Equinix,

Inc.

2,448

1,934,508

Extra

Space

Storage,

Inc.

5,473

873,600

Iron

Mountain,

Inc.

7,871

807,250

Public

Storage

4,050

1,198,476

SBA

Communications

Corp.,

Class

A

2,913

639,520

VICI

Properties,

Inc.,

Class

A

26,813

838,174

Weyerhaeuser

Co.

19,760

627,578

12,096,015

Specialty

Retail

1

.7

%

AutoZone,

Inc.*

452

1,416,428

Bath

&

Body

Works,

Inc.

5,817

213,775

Best

Buy

Co.,

Inc.

4,904

424,294

CarMax,

Inc.*(a)

4,265

360,137

Home

Depot,

Inc.

(The)

25,834

9,511,045

Lowe's

Cos.,

Inc.

14,916

3,662,027

O'Reilly

Automotive,

Inc.*

1,550

1,745,827

Ross

Stores,

Inc.

8,747

1,252,833

Common

Stocks

Shares

Value

($)

Specialty

Retail

TJX

Cos.,

Inc.

(The)

29,522

3,336,576

Tractor

Supply

Co.

2,808

739,403

Ulta

Beauty,

Inc.*(a)

1,287

469,613

23,131,958

Technology

Hardware,

Storage

&

Peripherals

6

.4

%

Apple,

Inc.

375,749

83,446,338

Hewlett

Packard

Enterprise

Co.

35,066

698,164

HP,

Inc.

21,958

792,464

NetApp,

Inc.

5,543

703,850

Seagate

Technology

Holdings

plc

5,013

512,178

Super

Micro

Computer,

Inc.*

1,331

933,896

Western

Digital

Corp.*

8,214

550,749

87,637,639

Textiles,

Apparel

&

Luxury

Goods

0

.3

%

Deckers

Outdoor

Corp.*

655

604,323

Lululemon

Athletica,

Inc.*

3,068

793,569

NIKE,

Inc.,

Class

B

31,400

2,350,604

Ralph

Lauren

Corp.,

Class

A

1,098

192,798

Tapestry,

Inc.

6,414

257,137

4,198,431

Tobacco

0

.5

%

Altria

Group,

Inc.

44,776

2,194,472

Philip

Morris

International,

Inc.

40,525

4,666,859

6,861,331

Trading

Companies

&

Distributors

0

.3

%

Fastenal

Co.

15,047

1,064,575

United

Rentals,

Inc.

1,706

1,291,613

WW

Grainger,

Inc.(a)

1,122

1,095,981

3,452,169

Water

Utilities

0

.1

%

American

Water

Works

Co.,

Inc.

5,164

735,147

Wireless

Telecommunication

Services

0

.2

%

T-Mobile

US,

Inc.

13,578

2,474,998

Total

Common

Stocks

(cost

$560,772,435)

1,208,960,495

Purchased

Options

0

.5

%

Number

of

Contracts

Call

Options

0

.5

%

Future

Equity

Index

Options:

0.5%

S&P

500

E-Mini

Index

9/20/2024

at

USD

5,650.00,

European

Style

Notional

Amount:

USD

146,340,950

Exchange

Traded

*

530

1,762,250

S&P

500

E-Mini

Index

9/20/2024

at

USD

5,500.00,

European

Style

Notional

Amount:

USD

146,340,950

Exchange

Traded

*

530

3,928,625

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

17

Purchased

Options

Number

of

Contracts

Value

($)

Call

Options

S&P

500

E-Mini

Index

10/18/2024

at

USD

5,900.00,

European

Style

Notional

Amount:

USD

73,170,475

Exchange

Traded

*

265

414,063

Total

Purchased

Options

(cost

$4,213,648)

6,104,938

Short-Term

Investment

6

.8

%

Shares

U.S.

Treasury

Obligation

6.8%

U.S.

Treasury

Bills,

5.27%,

10/3/2024(a)

94,855,000

93,994,862

(cost

$94,001,611)

Total

Short-Term

Investment

(cost

$94,001,611)

93,994,862

Repurchase

Agreements

2

.3

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$101,605,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$103,637.(b)

101,590

101,590

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$10,001,478,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$10,201,507.(b)

10,000,000

10,000,000

ING

Financial

Services

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$10,001,484,

collateralized

by

U.S.

Government

Treasury

Securities,

4.38%,

maturing

5/15/2034;

total

market

value

$10,200,002.(b)

10,000,000

10,000,000

Repurchase

Agreements

Principal

Amount

($)

Value

($)

Nomura

Securities

International,

Inc.,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$7,001,039,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$7,140,001.(b)

7,000,000

7,000,000

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,741,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$5,100,003.

(b)

5,000,000

5,000,000

Total

Repurchase

Agreements

(cost

$32,101,590)

32,101,590

Total

Investments

(cost

$691,089,284)

—

97.5%

1,341,161,885

Other

assets

in

excess

of

liabilities

—

2.5%

34,150,605

NET

ASSETS

—

100.0%

$

1,375,312,490

18

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

*

Denotes

a

non-income

producing

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$147,918,669,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$32,101,590

and

by

$118,540,313

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

8/15/2024

–

5/15/2054,

a

total

value

of

$150,641,903.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$32,101,590.

REIT

Real

Estate

Investment

Trust

Currency:

USD

United

States

Dollar

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

S&P

500

E-Mini

Index

122

9/2024

USD

33,903,800

(451,669)

U.S.

Treasury

Long

Bond

367

9/2024

USD

44,326,719

(61,552)

Net

contracts

(513,221)

As

of

July

31,

2024,

the

Fund

had

$1,166,000

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

19

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

20

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using options and financial

futures

contracts.

(a)

Options      

The

Fund

purchased

and/or

wrote

options

on

futures

contracts,

single

stocks,

ETFs,

and/or

indexes.

Such

option

investments

are

utilized

to

manage

currency

exposures

and/or

hedge

against

movements

in

the

values

of

the

foreign

currencies

in

which

the

portfolio

securities

are

denominated,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates

and

equity

movements,

to

capitalize

on

the

return-generating

features

of

selling

options

(short

volatility)

while

simultaneously

benefiting

from

the

risk-control

attributes

associated

with

buying

options

(long

volatility),

and/or

to

generate

consistent

outperformance,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Options

traded

on

an

exchange

are

valued

at

the

settlement

price

provided

by

an

independent

pricing

service

as

approved

by

the

Board.

If

a

settlement

price

is

not

available,

such

options

are

valued

at

the

last

quoted

sale

price,

if

available,

and

otherwise

at

the

average

bid/ask

price.

Exchange

traded

options

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

Options

traded

in

the

over-the-counter

(“OTC”)

market,

and

which

are

not

quoted

by

NASDAQ,

are

valued

at

the

last

quoted

bid

price,

and

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

The

value

of

an

option

position

reflects,

among

other

things,

the

implied

price

volatility

of

the

underlying

investment,

the

current

market

value

of

the

underlying

investment,

the

time

remaining

until

expiration

of

the

option,

the

relationship

of

the

strike

price

to

the

market

price

of

the

underlying

investment,

and

general

market

conditions.

Options

that

expire

unexercised

have

no

value.

American-style

options

can

be

exercised

at

any

time

prior

to

the

expiration

date

of

the

option.

European-style

options

can

only

be

exercised

at

expiration

of

the

option.

The Fund

effectively

terminates

its

right

or

obligation

under

an

option

by

entering

into

a

closing

transaction.

Closing

transactions

permit the

Fund

to

realize

the

profit

or

limit

the

loss

on

an

option

position

prior

to

its

exercise

or

expiration.

If the

Fund

is

unable

to

affect

a

closing

transaction

for

an

option

it

purchased,

it

would

have

to

exercise

the

option

to

realize

any

profit.

The

inability

to

enter

into

a

closing

purchase

transaction

for

a

covered

call

option

written

by the

Fund

could

cause

material

losses

because the

Fund

would

be

unable

to

sell

the

investment

used

as

a

cover

for

the

written

option

until

the

option

expires

or

is

exercised.

The

writing

and

purchasing

of

options

is

a

highly

specialized

activity

that

involves

investment

techniques

and

risks

different

from

those

associated

with

ordinary

portfolio

securities

transactions.

Imperfect

correlation

between

options

and

the

securities

markets

may

detract

from

the

effectiveness

of

attempted

hedging.

Transactions

using

OTC

options

(other

than

options

purchased

by the

Fund)

expose the

Fund

to

counterparty

risk.

To

the

extent

required

by

Securities

and

Exchange

Commission

(“SEC”)

guidelines, the

Fund

will

not

enter

into

any

options

transactions

unless

it

owns

either

(i)

an

offsetting

(“covered”)

position

in

securities,

other

options,

or

futures

or

(ii)

cash

and

liquid

obligations

with

a

value

sufficient

at

all

times

to

cover

its

potential

obligations

to

the

extent

not

covered

as

provided

in

(i)

above.

A

Fund

will

also

earmark

or

set

aside

cash

and/or

appropriate

liquid

assets

in

a

segregated

custodial

account

as

required

by

SEC

and

U.S.

Commodity

Futures

Trading

Commission

regulations.

Assets

used

as

cover

or

held

in

a

segregated

account

cannot

be

sold

while

the

position

in

the

corresponding

option

or

futures

contract

is

open,

unless

they

are

replaced

with

similar

assets.

As

a

result,

the

commitment

of

a

large

portion

of the

Fund’s

assets

to

earmarking

or

segregated

accounts

as

a

cover

could

impede

portfolio

management

or the

Fund’s

ability

to

meet

redemption

requests

or

other

current

obligations.

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

1,208,960,495

$

–

$

–

$

1,208,960,495

Purchased

Option

6,104,938

–

–

6,104,938

Repurchase

Agreements

–

32,101,590

–

32,101,590

Short-Term

Investment

–

93,994,862

–

93,994,862

Total

Assets

$

1,215,065,433

$

126,096,452

$

–

$

1,341,161,885

Liabilities:

Futures

Contracts

$

(

513,221

)

$

–

$

–

$

(

513,221

)

Total

Liabilities

$

(

513,221

)

$

–

$

–

$

(

513,221

)

Total

$

1,214,552,212

$

126,096,452

$

–

$

1,340,648,664

Nationwide

BNY

Mellon

Dynamic

U.S.

Core

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

21

(b)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Assets:

Fair

Value

Purchased

Options

Equity

risk

Investment

securities,

at

value

$

6,104,938

Total

$

6,104,938

Liabilities:

Futures

Contracts

Equity

risk

Unrealized

depreciation

from

futures

contracts

$

(451,669)

Interest

rate

risk

Unrealized

depreciation

from

futures

contracts

(61,552)

Total

$

(513,221)

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

22

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Dynamic

U.S.

Equity

Income

Fund

Common

Stocks

91

.1

%

Shares

Value

($)

Aerospace

&

Defense

4

.0

%

Howmet

Aerospace,

Inc.

95,913

9,178,874

L3Harris

Technologies,

Inc.

68,600

15,564,654

24,743,528

Air

Freight

&

Logistics

1

.4

%

FedEx

Corp.

28,793

8,702,684

Automobiles

0

.9

%

General

Motors

Co.

125,394

5,557,462

Banks

9

.7

%

Bank

of

America

Corp.

284,086

11,451,507

Citigroup,

Inc.

130,582

8,472,160

First

Horizon

Corp.

524,967

8,782,698

JPMorgan

Chase

&

Co.

104,596

22,258,029

US

Bancorp

202,296

9,079,044

60,043,438

Beverages

0

.5

%

PepsiCo,

Inc.

16,272

2,809,686

Biotechnology

0

.5

%

Amgen,

Inc.

8,728

2,901,798

Building

Products

1

.1

%

Johnson

Controls

International

plc

98,841

7,071,085

Capital

Markets

3

.9

%

CME

Group,

Inc.

34,664

6,714,764

Goldman

Sachs

Group,

Inc.

(The)

27,543

14,020,213

LPL

Financial

Holdings,

Inc.

13,827

3,062,957

23,797,934

Commercial

Services

&

Supplies

0

.7

%

Veralto

Corp.

40,059

4,268,687

Communications

Equipment

2

.6

%

Cisco

Systems,

Inc.

326,899

15,838,257

Construction

Materials

0

.9

%

CRH

plc

67,916

5,820,401

Containers

&

Packaging

1

.6

%

International

Paper

Co.(a)

213,800

9,937,424

Diversified

Telecommunication

Services

3

.2

%

AT&T,

Inc.

1,021,006

19,654,365

Electric

Utilities

1

.4

%

Constellation

Energy

Corp.

46,124

8,754,335

Electrical

Equipment

3

.3

%

AMETEK,

Inc.

21,297

3,694,604

Eaton

Corp.

plc

12,830

3,910,456

GE

Vernova,

Inc.*

31,223

5,565,187

Hubbell,

Inc.,

Class

B(a)

18,551

7,339,703

20,509,950

Electronic

Equipment,

Instruments

&

Components

0

.4

%

Jabil,

Inc.

24,162

2,722,333

Financial

Services

4

.0

%

Berkshire

Hathaway,

Inc.,

Class

B*

46,721

20,487,159

Voya

Financial,

Inc.

61,366

4,463,149

24,950,308

Health

Care

Equipment

&

Supplies

6

.9

%

Alcon,

Inc.CHF

60,553

5,691,982

Baxter

International,

Inc.

137,062

4,909,561

Common

Stocks

Shares

Value

($)

Health

Care

Equipment

&

Supplies

Becton

Dickinson

&

Co.

57,002

13,740,902

Medtronic

plc

228,747

18,372,959

42,715,404

Health

Care

Providers

&

Services

2

.9

%

Labcorp

Holdings,

Inc.

26,996

5,816,018

UnitedHealth

Group,

Inc.

21,509

12,392,626

18,208,644

Hotels,

Restaurants

&

Leisure

2

.0

%

International

Game

Technology

plc

147,592

3,463,984

Las

Vegas

Sands

Corp.

222,658

8,832,843

12,296,827

Industrial

Conglomerates

0

.9

%

3M

Co.

43,417

5,537,838

Insurance

8

.3

%

Allstate

Corp.

(The)

66,001

11,294,091

American

International

Group,

Inc.

71,795

5,688,318

Aon

plc,

Class

A

21,178

6,957,185

Assurant,

Inc.

40,927

7,156,905

Globe

Life,

Inc.

35,133

3,258,234

RenaissanceRe

Holdings

Ltd.

(a)

31,143

7,222,373

Willis

Towers

Watson

plc

35,397

9,991,865

51,568,971

Interactive

Media

&

Services

0

.8

%

Alphabet,

Inc.,

Class

A

28,301

4,854,754

IT

Services

1

.0

%

International

Business

Machines

Corp.

32,693

6,281,633

Life

Sciences

Tools

&

Services

2

.4

%

Danaher

Corp.

53,528

14,831,538

Media

1

.9

%

Interpublic

Group

of

Cos.,

Inc.

(The)(a)

91,222

2,934,611

Omnicom

Group,

Inc.(a)

87,694

8,597,520

11,532,131

Metals

&

Mining

3

.2

%

Freeport-McMoRan,

Inc.

159,772

7,255,247

Newmont

Corp.

256,543

12,588,565

19,843,812

Multi-Utilities

1

.0

%

Dominion

Energy,

Inc.(a)

115,468

6,172,919

Oil,

Gas

&

Consumable

Fuels

8

.4

%

Chevron

Corp.

47,485

7,619,918

ConocoPhillips

113,593

12,631,542

Diamondback

Energy,

Inc.(a)

23,927

4,840,671

EQT

Corp.

244,103

8,423,995

Marathon

Petroleum

Corp.

16,140

2,857,103

Occidental

Petroleum

Corp.

84,098

5,114,840

Phillips

66

70,809

10,301,293

51,789,362

Personal

Care

Products

1

.9

%

Kenvue,

Inc.

621,204

11,486,062

Pharmaceuticals

3

.9

%

Bristol-Myers

Squibb

Co.

61,508

2,925,321

Nationwide

BNY

Mellon

Dynamic

U.S.

Equity

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

23

Common

Stocks

Shares

Value

($)

Pharmaceuticals

Novartis

AG,

ADR-CH

52,453

5,847,460

Sanofi

SA,

ADR

292,649

15,162,145

23,934,926

Semiconductors

&

Semiconductor

Equipment

2

.2

%

Applied

Materials,

Inc.

46,886

9,949,209

Intel

Corp.

124,631

3,831,157

13,780,366

Software

0

.8

%

Dolby

Laboratories,

Inc.,

Class

A

61,300

4,827,988

Specialty

Retail

0

.4

%

Best

Buy

Co.,

Inc.

30,019

2,597,244

Tobacco

1

.4

%

Philip

Morris

International,

Inc.

73,783

8,496,850

Wireless

Telecommunication

Services

0

.7

%

T-Mobile

US,

Inc.

23,607

4,303,084

Total

Common

Stocks

(cost

$439,162,002)

563,144,028

Purchased

Options

0

.4

%

Number

of

Contracts

Call

Options

0

.4

%

Future

Equity

Index

Options:

0.4%

S&P

500

E-Mini

Index

10/18/2024

at

USD

5,900.00,

European

Style

Notional

Amount:

USD

31,200,995

Exchange

Traded

*

113

176,563

S&P

500

E-Mini

Index

9/20/2024

at

USD

5,650.00,

European

Style

Notional

Amount:

USD

62,401,990

Exchange

Traded

*

226

751,450

S&P

500

E-Mini

Index

9/20/2024

at

USD

5,500.00,

European

Style

Notional

Amount:

USD

62,401,990

Exchange

Traded

*

226

1,675,225

Total

Purchased

Options

(cost

$1,798,631)

2,603,238

Short-Term

Investment

2

.9

%

Shares

U.S.

Treasury

Obligation

2.9%

U.S.

Treasury

Bills,

5.24%,

10/3/2024(a)

18,000,000

17,836,777

Total

Short-Term

Investment

(cost

$17,836,578)

17,836,777

Repurchase

Agreements

1

.8

%

Principal

Amount

($)

Value

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,235,709,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$3,300,424.(b)

3,235,229

3,235,229

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,444,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$3,060,452.(b)

3,000,000

3,000,000

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,741,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$5,100,003.

(b)

5,000,000

5,000,000

Total

Repurchase

Agreements

(cost

$11,235,229)

11,235,229

Total

Investments

(cost

$470,032,440)

—

96.2%

594,819,272

Other

assets

in

excess

of

liabilities

—

3.8%

23,566,087

NET

ASSETS

—

100.0%

$

618,385,359

*

Denotes

a

non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$39,087,428,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$11,235,229

and

by

$28,513,378

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.50%,

and

maturity

dates

ranging

from

8/15/2024

–

5/15/2054,

a

total

value

of

$39,748,607.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$11,235,229.

ADR

American

Depositary

Receipt

CH

Switzerland

Currency:

CHF

Switzerland

Franc

USD

United

States

Dollar

24

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Dynamic

U.S.

Equity

Income

Fund

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

Russell

1000

Value

E-Mini

Index

547

9/2024

USD

49,623,840

2,550,869

U.S.

Treasury

Long

Bond

164

9/2024

USD

19,808,125

(27,506)

Total

long

contracts

2,523,363

Short

Contracts

S&P

500

E-Mini

Index

(210)

9/2024

USD

(58,359,000)

(10,970)

Total

short

contracts

(10,970)

Net

contracts

2,512,393

As

of

July

31,

2024,

the

Fund

had

$812,000

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

Nationwide

BNY

Mellon

Dynamic

U.S.

Equity

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

25

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

26

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

BNY

Mellon

Dynamic

U.S.

Equity

Income

Fund

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using options and financial

futures

contracts.

(a)

Options      

The

Fund

purchased

and/or

wrote

options

on

futures

contracts,

single

stocks,

ETFs,

and/or

indexes.

Such

option

investments

are

utilized

to

manage

currency

exposures

and/or

hedge

against

movements

in

the

values

of

the

foreign

currencies

in

which

the

portfolio

securities

are

denominated,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates

and

equity

movements,

to

capitalize

on

the

return-generating

features

of

selling

options

(short

volatility)

while

simultaneously

benefiting

from

the

risk-control

attributes

associated

with

buying

options

(long

volatility),

and/or

to

generate

consistent

outperformance,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Options

traded

on

an

exchange

are

valued

at

the

settlement

price

provided

by

an

independent

pricing

service

as

approved

by

the

Board.

If

a

settlement

price

is

not

available,

such

options

are

valued

at

the

last

quoted

sale

price,

if

available,

and

otherwise

at

the

average

bid/ask

price.

Exchange

traded

options

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

Options

traded

in

the

over-the-counter

(“OTC”)

market,

and

which

are

not

quoted

by

NASDAQ,

are

valued

at

the

last

quoted

bid

price,

and

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

The

value

of

an

option

position

reflects,

among

other

things,

the

implied

price

volatility

of

the

underlying

investment,

the

current

market

value

of

the

underlying

investment,

the

time

remaining

until

expiration

of

the

option,

the

relationship

of

the

strike

price

to

the

market

price

of

the

underlying

investment,

and

general

market

conditions.

Options

that

expire

unexercised

have

no

value.

American-style

options

can

be

exercised

at

any

time

prior

to

the

expiration

date

of

the

option.

European-style

options

can

only

be

exercised

at

expiration

of

the

option.

The Fund

effectively

terminates

its

right

or

obligation

under

an

option

by

entering

into

a

closing

transaction.

Closing

transactions

permit the

Fund

to

realize

the

profit

or

limit

the

loss

on

an

option

position

prior

to

its

exercise

or

expiration.

If the

Fund

is

unable

to

affect

a

closing

transaction

for

an

option

it

purchased,

it

would

have

to

exercise

the

option

to

realize

any

profit.

The

inability

to

enter

into

a

closing

purchase

transaction

for

a

covered

call

option

written

by the

Fund

could

cause

material

losses

because the

Fund

would

be

unable

to

sell

the

investment

used

as

a

cover

for

the

written

option

until

the

option

expires

or

is

exercised.

The

writing

and

purchasing

of

options

is

a

highly

specialized

activity

that

involves

investment

techniques

and

risks

different

from

those

associated

with

ordinary

portfolio

securities

transactions.

Imperfect

correlation

between

options

and

the

securities

markets

may

detract

from

the

effectiveness

of

attempted

hedging.

Transactions

using

OTC

options

(other

than

options

purchased

by the

Fund)

expose the

Fund

to

counterparty

risk.

To

the

extent

required

by

Securities

and

Exchange

Commission

(“SEC”)

guidelines, the

Fund

will

not

enter

into

any

options

transactions

unless

it

owns

either

(i)

an

offsetting

(“covered”)

position

in

securities,

other

options,

or

futures

or

(ii)

cash

and

liquid

obligations

with

a

value

sufficient

at

all

times

to

cover

its

potential

obligations

to

the

extent

not

covered

as

provided

in

(i)

above.

A

Fund

will

also

earmark

or

set

aside

cash

and/or

appropriate

liquid

assets

in

a

segregated

custodial

account

as

required

by

SEC

and

U.S.

Commodity

Futures

Trading

Commission

regulations.

Assets

used

as

cover

or

held

in

a

segregated

account

cannot

be

sold

while

the

position

in

the

corresponding

option

or

futures

contract

is

open,

unless

they

are

replaced

with

similar

assets.

As

a

result,

the

commitment

of

a

large

portion

of the

Fund’s

assets

to

earmarking

or

segregated

accounts

as

a

cover

could

impede

portfolio

management

or the

Fund’s

ability

to

meet

redemption

requests

or

other

current

obligations.

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

563,144,028

$

–

$

–

$

563,144,028

Futures

Contracts

2,550,869

–

–

2,550,869

Purchased

Option

2,603,238

–

–

2,603,238

Repurchase

Agreements

–

11,235,229

–

11,235,229

Short-Term

Investment

–

17,836,777

–

17,836,777

Total

Assets

$

568,298,135

$

29,072,006

$

–

$

597,370,141

Liabilities:

Futures

Contracts

$

(

38,476

)

$

–

$

–

$

(

38,476

)

Total

Liabilities

$

(

38,476

)

$

–

$

–

$

(

38,476

)

Total

$

568,259,659

$

29,072,006

$

–

$

597,331,665

Nationwide

BNY

Mellon

Dynamic

U.S.

Equity

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

27

(b)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Assets:

Fair

Value

Purchased

Options

Equity

risk

Investment

securities,

at

value

$

2,603,238

Futures

Contracts

Equity

risk

Unrealized

appreciation

from

futures

contracts

2,550,869

Total

$

5,154,107

Liabilities:

Futures

Contracts

Equity

risk

Unrealized

depreciation

from

futures

contracts

$

(

10,970

)

Interest

rate

risk

Unrealized

depreciation

from

futures

contracts

(

27,506

)

Total

$

(

38,476

)

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

28

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fund

Common

Stocks

99

.3

%

Shares

Value

($)

Aerospace

&

Defense

1

.5

%

Boeing

Co.

(The)*

22,526

4,293,456

General

Dynamics

Corp.

45,800

13,680,918

RTX

Corp.

59,058

6,938,724

24,913,098

Air

Freight

&

Logistics

0

.7

%

CH

Robinson

Worldwide,

Inc.

127,137

11,321,550

Banks

2

.6

%

JPMorgan

Chase

&

Co.

85,125

18,114,600

Wells

Fargo

&

Co.

423,094

25,106,398

43,220,998

Beverages

0

.6

%

Constellation

Brands,

Inc.,

Class

A

26,191

6,420,986

Keurig

Dr

Pepper,

Inc.

114,702

3,931,984

10,352,970

Biotechnology

1

.5

%

AbbVie,

Inc.

45,256

8,386,842

Alnylam

Pharmaceuticals,

Inc.*

8,675

2,059,966

Amgen,

Inc.

3,154

1,048,610

Biogen,

Inc.*

8,605

1,834,586

Gilead

Sciences,

Inc.

16,653

1,266,627

Moderna,

Inc.*

5,275

628,885

Regeneron

Pharmaceuticals,

Inc.*

4,467

4,820,742

Vertex

Pharmaceuticals,

Inc.*

11,262

5,582,799

25,629,057

Broadline

Retail

5

.6

%

Amazon.com,

Inc.*

503,936

94,225,953

Building

Products

0

.7

%

Builders

FirstSource,

Inc.*

41,335

6,918,239

Johnson

Controls

International

plc

39,518

2,827,118

Trane

Technologies

plc

8,386

2,803,272

12,548,629

Capital

Markets

3

.2

%

Ares

Management

Corp.,

Class

A

141,383

21,659,875

KKR

&

Co.,

Inc.

133,140

16,436,133

Nasdaq,

Inc.

87,900

5,949,072

S&P

Global,

Inc.

22,360

10,838,563

54,883,643

Chemicals

1

.9

%

Celanese

Corp.,

Class

A(a)

52,435

7,401,200

FMC

Corp.(a)

79,490

4,639,036

Linde

plc

30,794

13,965,079

PPG

Industries,

Inc.

42,261

5,366,302

31,371,617

Commercial

Services

&

Supplies

0

.7

%

Clean

Harbors,

Inc.*

23,756

5,671,270

Waste

Connections,

Inc.

38,173

6,786,014

12,457,284

Consumer

Finance

0

.9

%

American

Express

Co.

61,455

15,550,573

Consumer

Staples

Distribution

&

Retail

0

.1

%

US

Foods

Holding

Corp.*

46,003

2,502,103

Common

Stocks

Shares

Value

($)

Containers

&

Packaging

0

.2

%

Crown

Holdings,

Inc.

35,013

3,105,653

Distributors

0

.5

%

Pool

Corp.

21,332

7,979,021

Electric

Utilities

1

.0

%

NextEra

Energy,

Inc.

70,639

5,396,113

PG&E

Corp.

668,194

12,194,541

17,590,654

Electrical

Equipment

0

.8

%

Emerson

Electric

Co.

60,337

7,066,066

Vertiv

Holdings

Co.,

Class

A

72,065

5,671,516

12,737,582

Electronic

Equipment,

Instruments

&

Components

1

.2

%

Corning,

Inc.

153,302

6,133,613

Flex

Ltd.*

422,294

13,576,752

19,710,365

Energy

Equipment

&

Services

0

.2

%

Schlumberger

NV

86,251

4,165,061

Entertainment

1

.3

%

Netflix,

Inc.*

24,677

15,505,793

Spotify

Technology

SA*

17,874

6,147,584

21,653,377

Financial

Services

4

.3

%

Berkshire

Hathaway,

Inc.,

Class

B*

74,517

32,675,704

Block,

Inc.,

Class

A*

143,612

8,886,711

Corpay,

Inc.*

26,547

7,746,945

Global

Payments,

Inc.

47,825

4,860,933

PayPal

Holdings,

Inc.*

130,015

8,552,387

Visa,

Inc.,

Class

A

39,895

10,598,905

73,321,585

Food

Products

0

.1

%

Mondelez

International,

Inc.,

Class

A

23,729

1,621,877

Gas

Utilities

0

.4

%

Atmos

Energy

Corp.

58,645

7,499,523

Ground

Transportation

2

.0

%

JB

Hunt

Transport

Services,

Inc.

100,927

17,475,510

Uber

Technologies,

Inc.*

259,355

16,720,617

34,196,127

Health

Care

Equipment

&

Supplies

2

.8

%

Align

Technology,

Inc.*

3,479

806,710

Boston

Scientific

Corp.*

176,085

13,009,160

Dexcom,

Inc.*

91,836

6,228,318

Edwards

Lifesciences

Corp.*

114,637

7,227,863

Intuitive

Surgical,

Inc.*

24,765

11,010,767

Stryker

Corp.

28,010

9,171,874

47,454,692

Health

Care

Providers

&

Services

3

.4

%

Cencora,

Inc.

38,058

9,053,237

Centene

Corp.*

50,560

3,889,075

Elevance

Health,

Inc.

12,932

6,880,212

HCA

Healthcare,

Inc.

17,548

6,370,801

Humana,

Inc.

9,646

3,488,090

Labcorp

Holdings,

Inc.

15,924

3,430,667

Molina

Healthcare,

Inc.*

10,056

3,431,811

Nationwide

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

29

Common

Stocks

Shares

Value

($)

Health

Care

Providers

&

Services

UnitedHealth

Group,

Inc.

37,069

21,357,675

57,901,568

Health

Care

REITs

0

.6

%

Welltower,

Inc.

97,786

10,878,693

Hotels,

Restaurants

&

Leisure

2

.1

%

Chipotle

Mexican

Grill,

Inc.,

Class

A*

243,920

13,249,734

Domino's

Pizza,

Inc.

26,474

11,349,404

Marriott

International,

Inc.,

Class

A

46,710

10,617,183

35,216,321

Household

Durables

0

.2

%

Lennar

Corp.,

Class

A

16,279

2,880,243

Household

Products

1

.4

%

Church

&

Dwight

Co.,

Inc.

40,902

4,008,805

Procter

&

Gamble

Co.

(The)(a)

117,433

18,878,529

22,887,334

Independent

Power

and

Renewable

Electricity

Producers

0

.3

%

Vistra

Corp.

59,487

4,712,560

Insurance

2

.8

%

American

International

Group,

Inc.

137,537

10,897,057

Arch

Capital

Group

Ltd.*

85,541

8,193,117

Everest

Group

Ltd.

31,062

12,203,328

Marsh

&

McLennan

Cos.,

Inc.

26,299

5,853,368

Progressive

Corp.

(The)

46,794

10,019,531

47,166,401

Interactive

Media

&

Services

6

.2

%

Alphabet,

Inc.,

Class

A

473,137

81,161,921

Meta

Platforms,

Inc.,

Class

A

50,797

24,119,939

105,281,860

IT

Services

0

.5

%

MongoDB,

Inc.,

Class

A*

32,070

8,093,185

Life

Sciences

Tools

&

Services

1

.2

%

Agilent

Technologies,

Inc.

31,928

4,514,619

Danaher

Corp.

43,083

11,937,438

Thermo

Fisher

Scientific,

Inc.

5,309

3,256,222

19,708,279

Machinery

0

.7

%

Fortive

Corp.

116,836

8,394,666

Ingersoll

Rand,

Inc.

28,932

2,904,773

11,299,439

Media

0

.7

%

Omnicom

Group,

Inc.(a)

119,555

11,721,172

Metals

&

Mining

0

.2

%

Nucor

Corp.

16,368

2,667,002

Multi-Utilities

0

.8

%

Sempra(a)

171,447

13,726,047

Oil,

Gas

&

Consumable

Fuels

4

.7

%

EQT

Corp.

78,520

2,709,725

Exxon

Mobil

Corp.

302,908

35,921,860

Marathon

Petroleum

Corp.

66,078

11,697,127

Shell

plc,

ADR

282,535

20,687,213

Common

Stocks

Shares

Value

($)

Oil,

Gas

&

Consumable

Fuels

Targa

Resources

Corp.

57,182

7,735,581

78,751,506

Passenger

Airlines

0

.4

%

Delta

Air

Lines,

Inc.(a)

176,323

7,585,415

Personal

Care

Products

0

.9

%

Haleon

plc,

ADR(a)

586,336

5,364,974

Unilever

plc,

ADR-UK(a)

151,232

9,285,645

14,650,619

Pharmaceuticals

4

.0

%

AstraZeneca

plc,

ADR-UK

61,266

4,849,204

Eli

Lilly

&

Co.

39,350

31,648,024

GSK

plc,

ADR(a)

181,735

7,045,866

Merck

&

Co.,

Inc.

160,047

18,106,117

Novartis

AG,

ADR-CH(a)

20,660

2,303,177

Novo

Nordisk

A/S,

ADR-DK

23,206

3,077,812

67,030,200

Professional

Services

0

.7

%

Dayforce,

Inc.*(a)

122,450

7,258,836

Equifax,

Inc.(a)

14,391

4,020,414

11,279,250

Real

Estate

Management

&

Development

0

.1

%

CoStar

Group,

Inc.*

31,610

2,466,212

Residential

REITs

0

.4

%

Camden

Property

Trust

61,655

6,828,291

Semiconductors

&

Semiconductor

Equipment

10

.4

%

Advanced

Micro

Devices,

Inc.*

171,814

24,823,687

First

Solar,

Inc.*

11,443

2,471,574

KLA

Corp.

20,677

17,018,618

Micron

Technology,

Inc.

113,434

12,457,322

NVIDIA

Corp.

697,406

81,610,450

NXP

Semiconductors

NV(a)

28,471

7,492,428

QUALCOMM,

Inc.

52,904

9,572,979

Texas

Instruments,

Inc.

102,775

20,946,573

176,393,631

Software

10

.4

%

Adobe,

Inc.*

58,991

32,542,385

Atlassian

Corp.,

Class

A*

66,885

11,809,884

HubSpot,

Inc.*

7,993

3,972,761

Microsoft

Corp.

247,627

103,594,756

ServiceNow,

Inc.*

14,241

11,597,728

Synopsys,

Inc.*

22,074

12,324,356

175,841,870

Specialized

REITs

0

.5

%

Equinix,

Inc.

10,378

8,201,111

Specialty

Retail

2

.0

%

TJX

Cos.,

Inc.

(The)

293,275

33,145,941

Technology

Hardware,

Storage

&

Peripherals

6

.8

%

Apple,

Inc.

518,248

115,092,516

Tobacco

0

.6

%

Philip

Morris

International,

Inc.

92,504

10,652,761

Trading

Companies

&

Distributors

0

.2

%

AerCap

Holdings

NV

41,954

3,941,578

Wireless

Telecommunication

Services

1

.3

%

T-Mobile

US,

Inc.

116,063

21,155,964

Total

Common

Stocks

(cost

$1,097,962,376)

1,677,169,961

30

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fund

Repurchase

Agreements

1

.6

%

Principal

Amount

($)

Value

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$8,831,458,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$9,008,090.(b)

8,830,148

8,830,148

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$15,002,217,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$15,302,261.(b)

15,000,000

15,000,000

Santander

US

Capital

Markets,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$1,000,149,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$1,020,151.(b)

1,000,000

1,000,000

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,000,297,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$2,040,001.

(b)

2,000,000

2,000,000

Total

Repurchase

Agreements

(cost

$26,830,148)

26,830,148

Total

Investments

(cost

$1,124,792,524)

—

100.9%

1,704,000,109

Liabilities

in

excess

of

other

assets

—

(0.9)%

(

14,398,059

)

NET

ASSETS

—

100.0%

$

1,689,602,050

*

Denotes

a

non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$40,705,224,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$26,830,148

and

by

$14,156,792

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

5.41%,

and

maturity

dates

ranging

from

8/15/2024

–

11/15/2053,

a

total

value

of

$40,986,940.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$26,830,148.

ADR

American

Depositary

Receipt

CH

Switzerland

DK

Denmark

REIT

Real

Estate

Investment

Trust

UK

United

Kingdom

Nationwide

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

31

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

32

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

1,677,169,961

$

–

$

–

$

1,677,169,961

Repurchase

Agreements

–

26,830,148

–

26,830,148

Total

$

1,677,169,961

$

26,830,148

$

–

$

1,704,000,109

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Geneva

Mid

Cap

Growth

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

33

Common

Stocks

98

.7

%

Shares

Value

($)

Aerospace

&

Defense

7

.5

%

Axon

Enterprise,

Inc.*(a)

33,329

9,999,033

HEICO

Corp.,

Class

A

36,939

7,022,474

17,021,507

Broadline

Retail

0

.2

%

Etsy,

Inc.*

7,425

483,664

Building

Products

3

.3

%

Advanced

Drainage

Systems,

Inc.

35,159

6,224,549

Fortune

Brands

Innovations,

Inc.

16,854

1,361,972

7,586,521

Capital

Markets

3

.5

%

Intercontinental

Exchange,

Inc.

36,836

5,582,864

Raymond

James

Financial,

Inc.

20,644

2,394,704

7,977,568

Commercial

Services

&

Supplies

6

.4

%

Copart,

Inc.*

183,471

9,601,037

Rollins,

Inc.

102,559

4,913,602

14,514,639

Construction

Materials

1

.3

%

Vulcan

Materials

Co.

10,872

2,984,473

Distributors

2

.6

%

Pool

Corp.(a)

15,873

5,937,137

Electrical

Equipment

0

.4

%

Generac

Holdings,

Inc.*

5,431

845,498

Electronic

Equipment,

Instruments

&

Components

7

.7

%

Amphenol

Corp.,

Class

A

153,564

9,868,023

Cognex

Corp.(a)

17,483

867,506

Keysight

Technologies,

Inc.*

38,662

5,396,055

Trimble,

Inc.*

26,989

1,471,980

17,603,564

Financial

Services

4

.8

%

Fiserv,

Inc.*(a)

45,872

7,503,283

Global

Payments,

Inc.

33,079

3,362,150

10,865,433

Food

Products

0

.8

%

Freshpet,

Inc.*(a)

14,433

1,756,496

Ground

Transportation

2

.1

%

Old

Dominion

Freight

Line,

Inc.(a)

22,488

4,726,528

Health

Care

Equipment

&

Supplies

8

.1

%

Align

Technology,

Inc.*

7,969

1,847,852

Cooper

Cos.,

Inc.

(The)*

27,077

2,527,096

Dexcom,

Inc.*

31,402

2,129,684

IDEXX

Laboratories,

Inc.*

11,235

5,349,208

STERIS

plc

27,425

6,547,993

18,401,833

Health

Care

Providers

&

Services

0

.4

%

HealthEquity,

Inc.*

11,318

888,237

Household

Products

2

.1

%

Church

&

Dwight

Co.,

Inc.

47,624

4,667,628

Insurance

2

.4

%

Ryan

Specialty

Holdings,

Inc.,

Class

A(a)

87,299

5,376,745

Common

Stocks

Shares

Value

($)

IT

Services

5

.3

%

EPAM

Systems,

Inc.*

12,079

2,598,555

Gartner,

Inc.*

18,801

9,422,873

12,021,428

Life

Sciences

Tools

&

Services

1

.9

%

Charles

River

Laboratories

International,

Inc.*

3,329

812,609

Repligen

Corp.*

21,031

3,519,538

4,332,147

Machinery

2

.5

%

IDEX

Corp.(a)

26,802

5,587,681

Professional

Services

6

.4

%

Broadridge

Financial

Solutions,

Inc.

24,869

5,321,966

SS&C

Technologies

Holdings,

Inc.

21,540

1,571,343

Verisk

Analytics,

Inc.,

Class

A

29,197

7,642,315

14,535,624

Real

Estate

Management

&

Development

2

.3

%

CoStar

Group,

Inc.*

67,471

5,264,087

Semiconductors

&

Semiconductor

Equipment

1

.4

%

Monolithic

Power

Systems,

Inc.

3,751

3,237,451

Software

14

.2

%

ANSYS,

Inc.*

7,604

2,384,842

Bentley

Systems,

Inc.,

Class

B(a)

33,827

1,648,728

BlackLine,

Inc.*

15,160

720,403

Cadence

Design

Systems,

Inc.*

17,404

4,658,355

HubSpot,

Inc.*

6,622

3,291,333

Intuit,

Inc.

7,973

5,161,322

Roper

Technologies,

Inc.

11,140

6,068,515

Tyler

Technologies,

Inc.*

14,713

8,358,602

32,292,100

Specialty

Retail

8

.0

%

Burlington

Stores,

Inc.*

21,277

5,538,829

O'Reilly

Automotive,

Inc.*

8,786

9,896,023

Ulta

Beauty,

Inc.*

7,473

2,726,823

18,161,675

Textiles,

Apparel

&

Luxury

Goods

0

.8

%

Lululemon

Athletica,

Inc.*

7,107

1,838,297

Trading

Companies

&

Distributors

2

.3

%

Watsco,

Inc.(a)

10,919

5,344,741

Total

Common

Stocks

(cost

$92,785,659)

224,252,702

Rights

0

.0

%

†

Number

of

Rights

Health

Care

Equipment

&

Supplies

0

.0

%

†

ABIOMED,

Inc.,

CVR*^∞

15,020

0

Total

Rights

(cost

$15,321)

0

34

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Geneva

Mid

Cap

Growth

Fund

Repurchase

Agreements

11

.2

%

Principal

Amount

($)

Value

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$10,384,575,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$10,592,269.(b)

10,383,034

10,383,034

ING

Financial

Services

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$8,001,187,

collateralized

by

U.S.

Government

Treasury

Securities,

4.38%,

maturing

5/15/2034;

total

market

value

$8,160,001.

(b)

8,000,000

8,000,000

Santander

US

Capital

Markets,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$7,001,039,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$7,141,059.(b)

7,000,000

7,000,000

Total

Repurchase

Agreements

(cost

$25,383,034)

25,383,034

Total

Investments

(cost

$118,184,014)

—

109.9%

249,635,736

Liabilities

in

excess

of

other

assets

—

(9.9)%

(

22,531,835

)

NET

ASSETS

—

100.0%

$

227,103,901

*

Denotes

a

non-income

producing

security.

^

Value

determined

using

significant

unobservable

inputs.

∞

Fair

valued

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$27,248,388,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$25,383,034

and

by

$2,247,321

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

6.13%,

and

maturity

dates

ranging

from

8/15/2024

–

2/15/2054,

a

total

value

of

$27,630,355.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$25,383,034.

CVR

Contingent

Value

Rights

Nationwide

Geneva

Mid

Cap

Growth

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

35

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

36

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Geneva

Mid

Cap

Growth

Fund

The

FVC

continues

to

evaluate

any

information

that

could

cause

an

adjustment

to

the

fair

value

for

these

investments,

such

as

market

news,

the

progress

of

judicial

and

regulatory

proceedings,

and

subadviser

recommendations. 

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

224,252,702

$

–

$

–

$

224,252,702

Repurchase

Agreements

–

25,383,034

–

25,383,034

Rights

–

–

–

–

Total

$

224,252,702

$

25,383,034

$

–

$

249,635,736

As

of

July

31,

2024,

the

fund

held

one

rights

investment

that

was

categorized

as

a

Level

3

investment

which

was

valued

at

$0.

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

GQG

US

Quality

Equity

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

37

Common

Stocks

98

.8

%

Shares

Value

($)

Aerospace

&

Defense

0

.0

%

†

Northrop

Grumman

Corp.

67

32,449

Automobiles

2

.0

%

Ford

Motor

Co.

1,751

18,946

Tesla,

Inc.*

12,297

2,853,765

2,872,711

Beverages

3

.4

%

Coca-Cola

Co.

(The)

71,692

4,784,724

Broadline

Retail

4

.8

%

Amazon.com,

Inc.*

36,471

6,819,348

Consumer

Staples

Distribution

&

Retail

3

.3

%

Walmart,

Inc.

68,578

4,707,194

Electric

Utilities

7

.6

%

American

Electric

Power

Co.,

Inc.

27,910

2,738,529

Duke

Energy

Corp.

22,426

2,450,489

NextEra

Energy,

Inc.

33,370

2,549,135

Southern

Co.

(The)

36,387

3,039,042

10,777,195

Entertainment

2

.9

%

Netflix,

Inc.*

6,507

4,088,673

Financial

Services

3

.0

%

Visa,

Inc.,

Class

A(a)

16,279

4,324,842

Health

Care

Providers

&

Services

2

.0

%

UnitedHealth

Group,

Inc.

4,903

2,824,912

Household

Products

1

.3

%

Procter

&

Gamble

Co.

(The)

11,291

1,815,141

Interactive

Media

&

Services

11

.9

%

Alphabet,

Inc.,

Class

C

24,103

4,173,435

Meta

Platforms,

Inc.,

Class

A

27,040

12,839,403

17,012,838

Multi-Utilities

0

.0

%

†

CMS

Energy

Corp.

1,252

81,130

Oil,

Gas

&

Consumable

Fuels

2

.2

%

Canadian

Natural

Resources

Ltd.

1,774

62,942

Shell

plc,

ADR

42,059

3,079,560

3,142,502

Pharmaceuticals

12

.3

%

Eli

Lilly

&

Co.

13,501

10,858,449

Novo

Nordisk

A/S,

ADR-DK

50,211

6,659,485

17,517,934

Semiconductors

&

Semiconductor

Equipment

17

.1

%

Broadcom,

Inc.

43,727

7,026,054

KLA

Corp.

2,925

2,407,480

NVIDIA

Corp.

89,835

10,512,492

Common

Stocks

Shares

Value

($)

Semiconductors

&

Semiconductor

Equipment

QUALCOMM,

Inc.

24,430

4,420,608

24,366,634

Software

12

.1

%

AppLovin

Corp.,

Class

A*

54,479

4,200,331

Datadog,

Inc.,

Class

A*

405

47,158

Microsoft

Corp.

20,340

8,509,239

Synopsys,

Inc.*

8,166

4,559,241

17,315,969

Technology

Hardware,

Storage

&

Peripherals

7

.6

%

Apple,

Inc.

48,486

10,767,771

Tobacco

5

.3

%

Philip

Morris

International,

Inc.

65,860

7,584,438

Total

Common

Stocks

(cost

$108,797,569)

140,836,405

Repurchase

Agreement

0

.1

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$89,391,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$91,178.(b)

89,377

89,377

Total

Repurchase

Agreement

(cost

$89,377)

89,377

Total

Investments

(cost

$108,886,946)

—

98.9%

140,925,782

Other

assets

in

excess

of

liabilities

—

1.1%

1,508,480

NET

ASSETS

—

100.0%

$

142,434,262

*

Denotes

a

non-income

producing

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$4,324,576,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$89,377

and

by

$4,291,304

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

9/5/2024

–

2/15/2054,

a

total

value

of

$4,380,681.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$89,377.

ADR

American

Depositary

Receipt

DK

Denmark

38

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

GQG

US

Quality

Equity

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

GQG

US

Quality

Equity

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

39

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

140,836,405

$

–

$

–

$

140,836,405

Repurchase

Agreement

–

89,377

–

89,377

Total

$

140,836,405

$

89,377

$

–

$

140,925,782

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

40

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

All

Cap

Growth

Fund

Common

Stocks

98

.0

%

Shares

Value

($)

Aerospace

&

Defense

4

.5

%

Boeing

Co.

(The)*

48,493

9,242,766

Air

Freight

&

Logistics

1

.1

%

Expeditors

International

of

Washington,

Inc.

18,082

2,256,995

Automobile

Components

0

.7

%

Mobileye

Global,

Inc.,

Class

A*(a)

64,337

1,351,077

Automobiles

5

.8

%

Tesla,

Inc.*

51,132

11,866,203

Beverages

3

.6

%

Boston

Beer

Co.,

Inc.

(The),

Class

A*

4,960

1,389,842

Monster

Beverage

Corp.*

116,970

6,018,106

7,407,948

Biotechnology

5

.6

%

Alnylam

Pharmaceuticals,

Inc.*

20,653

4,904,261

CRISPR

Therapeutics

AG*(a)

23,365

1,338,581

GRAIL,

Inc.*(a)

2,575

39,604

Regeneron

Pharmaceuticals,

Inc.*

4,778

5,156,370

11,438,816

Broadline

Retail

6

.8

%

Alibaba

Group

Holding

Ltd.,

ADR-CN

18,744

1,477,964

Amazon.com,

Inc.*

66,508

12,435,666

13,913,630

Capital

Markets

3

.6

%

FactSet

Research

Systems,

Inc.

5,709

2,358,331

MSCI,

Inc.,

Class

A

4,723

2,554,010

SEI

Investments

Co.

35,635

2,417,478

7,329,819

Entertainment

7

.3

%

Netflix,

Inc.*

16,357

10,277,921

Walt

Disney

Co.

(The)

48,999

4,590,716

14,868,637

Financial

Services

5

.3

%

Block,

Inc.,

Class

A*

27,486

1,700,834

PayPal

Holdings,

Inc.*

25,658

1,687,783

Visa,

Inc.,

Class

A(a)

27,986

7,435,040

10,823,657

Health

Care

Equipment

&

Supplies

1

.2

%

Intuitive

Surgical,

Inc.*

5,374

2,389,334

Health

Care

Technology

2

.9

%

Doximity,

Inc.,

Class

A*(a)

87,068

2,437,904

Veeva

Systems,

Inc.,

Class

A*

17,767

3,410,020

5,847,924

Hotels,

Restaurants

&

Leisure

2

.7

%

Starbucks

Corp.

36,589

2,852,113

Yum

China

Holdings,

Inc.

38,482

1,163,696

Yum!

Brands,

Inc.

12,144

1,613,087

5,628,896

Interactive

Media

&

Services

12

.3

%

Alphabet,

Inc.,

Class

A

50,760

8,707,371

Alphabet,

Inc.,

Class

C

13,562

2,348,260

Common

Stocks

Shares

Value

($)

Interactive

Media

&

Services

Meta

Platforms,

Inc.,

Class

A

29,758

14,129,991

25,185,622

IT

Services

1

.4

%

Shopify,

Inc.,

Class

A*

45,344

2,775,053

Life

Sciences

Tools

&

Services

0

.9

%

Illumina,

Inc.*

15,449

1,894,047

Machinery

0

.5

%

Deere

&

Co.

2,970

1,104,781

Pharmaceuticals

3

.6

%

Novartis

AG,

ADR-CH

14,459

1,611,889

Novo

Nordisk

A/S,

ADR-DK

29,413

3,901,046

Roche

Holding

AG,

ADR(a)

43,705

1,770,490

7,283,425

Semiconductors

&

Semiconductor

Equipment

14

.0

%

ARM

Holdings

plc,

ADR*(a)

37,090

5,347,265

NVIDIA

Corp.

164,125

19,205,908

QUALCOMM,

Inc.

21,817

3,947,786

28,500,959

Software

13

.7

%

Autodesk,

Inc.*

22,403

5,545,190

Microsoft

Corp.

14,925

6,243,874

Oracle

Corp.

64,826

9,039,986

Salesforce,

Inc.

15,361

3,975,427

Workday,

Inc.,

Class

A*

14,415

3,273,935

28,078,412

Textiles,

Apparel

&

Luxury

Goods

0

.5

%

Under

Armour,

Inc.,

Class

A*

143,472

1,000,000

Total

Common

Stocks

(cost

$95,766,082)

200,188,001

Repurchase

Agreements

6

.6

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,387,228,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$3,454,974.(b)

3,386,726

3,386,726

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,444,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$3,060,452.(b)

3,000,000

3,000,000

Nationwide

Loomis

All

Cap

Growth

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

41

Repurchase

Agreements

Principal

Amount

($)

Value

($)

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$7,001,037,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$7,140,004.

(b)

7,000,000

7,000,000

Total

Repurchase

Agreements

(cost

$13,386,726)

13,386,726

Total

Investments

(cost

$109,152,808)

—

104.6%

213,574,727

Liabilities

in

excess

of

other

assets

—

(4.6)%

(

9,416,272

)

NET

ASSETS

—

100.0%

$

204,158,455

*

Denotes

a

non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$17,339,553,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$13,386,726

and

by

$3,816,687

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

9/5/2024

–

2/15/2054,

a

total

value

of

$17,203,413.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$13,386,726.

ADR

American

Depositary

Receipt

CH

Switzerland

CN

China

DK

Denmark

42

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Loomis

All

Cap

Growth

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

Loomis

All

Cap

Growth

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

43

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

200,188,001

$

–

$

–

$

200,188,001

Repurchase

Agreements

–

13,386,726

–

13,386,726

Total

$

200,188,001

$

13,386,726

$

–

$

213,574,727

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

44

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Company

Growth

Fund

Common

Stocks

96

.9

%

Shares

Value

($)

Biotechnology

5

.2

%

Ironwood

Pharmaceuticals,

Inc.,

Class

A*

128,292

876,234

Vericel

Corp.*

109,165

5,515,016

6,391,250

Electrical

Equipment

1

.1

%

Vicor

Corp.*

32,214

1,356,532

Electronic

Equipment,

Instruments

&

Components

4

.1

%

Cognex

Corp.

101,243

5,023,678

Health

Care

Equipment

&

Supplies

10

.6

%

Glaukos

Corp.*

47,248

5,536,048

Inari

Medical,

Inc.*

10,843

504,850

Inogen,

Inc.*

70,075

648,194

Inspire

Medical

Systems,

Inc.*(a)

10,721

1,512,197

OrthoPediatrics

Corp.*

75,546

2,325,306

RxSight,

Inc.*

12,572

575,420

Tandem

Diabetes

Care,

Inc.*

38,993

1,441,961

UFP

Technologies,

Inc.*(a)

1,427

458,909

13,002,885

Health

Care

Technology

4

.0

%

Veeva

Systems,

Inc.,

Class

A*

25,570

4,907,650

Life

Sciences

Tools

&

Services

13

.1

%

10X

Genomics,

Inc.,

Class

A*(a)

73,231

1,513,685

Bio-Techne

Corp.

64,219

5,239,628

CryoPort,

Inc.*(a)

169,949

1,568,629

Cytek

Biosciences,

Inc.*

305,225

2,048,060

Repligen

Corp.*

34,567

5,784,787

16,154,789

Machinery

3

.4

%

Energy

Recovery,

Inc.*

75,715

1,103,925

Helios

Technologies,

Inc.

67,480

3,100,706

4,204,631

Professional

Services

3

.1

%

Paycom

Software,

Inc.(a)

22,751

3,794,639

Software

50

.6

%

Agilysys,

Inc.*

20,871

2,339,430

Alarm.com

Holdings,

Inc.*

82,332

5,808,523

ANSYS,

Inc.*

14,347

4,499,650

Appfolio,

Inc.,

Class

A*

23,170

5,131,692

Clearwater

Analytics

Holdings,

Inc.,

Class

A*(a)

74,860

1,463,513

Datadog,

Inc.,

Class

A*

44,947

5,233,629

DoubleVerify

Holdings,

Inc.*

44,402

937,770

Enfusion,

Inc.,

Class

A*(a)

264,569

2,508,114

Guidewire

Software,

Inc.*

38,715

5,809,960

Manhattan

Associates,

Inc.*

22,720

5,802,234

nCino,

Inc.*

80,730

2,644,715

Olo,

Inc.,

Class

A*

358,329

1,712,813

PROS

Holdings,

Inc.*(a)

21,102

508,558

Q2

Holdings,

Inc.*

67,320

4,542,080

Smartsheet,

Inc.,

Class

A*

116,245

5,575,110

Tyler

Technologies,

Inc.*

9,805

5,570,318

Workiva,

Inc.,

Class

A*

27,198

2,006,396

62,094,505

Common

Stocks

Shares

Value

($)

Trading

Companies

&

Distributors

1

.7

%

Xometry,

Inc.,

Class

A*(a)

140,952

2,062,128

Total

Common

Stocks

(cost

$88,685,032)

118,992,687

Rights

0

.0

%

†

Number

of

Rights

Health

Care

Equipment

&

Supplies

0

.0

%

†

ABIOMED,

Inc.,

CVR*^∞

17,107

0

Total

Rights

(cost

$17,449)

0

Repurchase

Agreement

0

.8

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$947,426,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$966,374.(b)

947,285

947,285

Total

Repurchase

Agreement

(cost

$947,285)

947,285

Total

Investments

(cost

$89,649,766)

—

97.7%

119,939,972

Other

assets

in

excess

of

liabilities

—

2.3%

2,816,640

NET

ASSETS

—

100.0%

$

122,756,612

*

Denotes

a

non-income

producing

security.

^

Value

determined

using

significant

unobservable

inputs.

∞

Fair

valued

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$5,367,526,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$947,285

and

by

$4,762,927

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

5.41%,

and

maturity

dates

ranging

from

8/15/2024

–

11/15/2053,

a

total

value

of

$5,710,212.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$947,285.

Nationwide

Small

Company

Growth

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

45

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

46

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Company

Growth

Fund

The

FVC

continues

to

evaluate

any

information

that

could

cause

an

adjustment

to

the

fair

value

for

these

investments,

such

as

market

news,

the

progress

of

judicial

and

regulatory

proceedings,

and

subadviser

recommendations. 

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

118,992,687

$

–

$

–

$

118,992,687

Repurchase

Agreement

–

947,285

–

947,285

Rights

–

–

–

–

Total

$

118,992,687

$

947,285

$

–

$

119,939,972

As

of

July

31,

2024,

the

fund

held

one

rights

investment

that

was

categorized

as

a

Level

3

investment

which

was

valued

at

$0.

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

WCM

Focused

Small

Cap

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

47

Common

Stocks

98

.8

%

Shares

Value

($)

Automobile

Components

3

.2

%

Dorman

Products,

Inc.*

82,000

8,312,340

Broadline

Retail

2

.2

%

Ollie's

Bargain

Outlet

Holdings,

Inc.*

58,600

5,721,704

Building

Products

10

.6

%

American

Woodmark

Corp.*(a)

54,900

5,608,035

AZEK

Co.,

Inc.

(The),

Class

A*

145,100

6,513,539

CSW

Industrials,

Inc.

23,000

7,461,660

Hayward

Holdings,

Inc.*(a)

556,400

8,229,156

27,812,390

Capital

Markets

2

.9

%

Virtus

Investment

Partners,

Inc.

33,500

7,571,000

Chemicals

8

.0

%

Ashland,

Inc.

77,600

7,500,040

Element

Solutions,

Inc.

497,700

13,413,015

20,913,055

Commercial

Services

&

Supplies

2

.4

%

UniFirst

Corp.(a)

32,000

6,225,280

Construction

&

Engineering

3

.8

%

API

Group

Corp.*

260,200

9,858,978

Consumer

Staples

Distribution

&

Retail

2

.4

%

Grocery

Outlet

Holding

Corp.*

325,600

6,368,736

Electronic

Equipment,

Instruments

&

Components

5

.0

%

ePlus,

Inc.*

142,400

13,089,408

Food

Products

2

.2

%

Lancaster

Colony

Corp.

29,700

5,733,882

Ground

Transportation

3

.0

%

Landstar

System,

Inc.

42,000

7,990,500

Health

Care

Equipment

&

Supplies

3

.4

%

ICU

Medical,

Inc.*

70,100

8,901,298

Health

Care

Providers

&

Services

15

.3

%

Addus

HomeCare

Corp.*

140,000

16,990,400

AMN

Healthcare

Services,

Inc.*(a)

150,700

10,190,334

DocGo,

Inc.*(a)

799,300

2,901,459

Ensign

Group,

Inc.

(The)

72,000

10,134,000

40,216,193

Hotels,

Restaurants

&

Leisure

2

.3

%

Wyndham

Hotels

&

Resorts,

Inc.(a)

81,500

6,171,180

Insurance

5

.3

%

Enstar

Group

Ltd.*

34,900

11,321,560

White

Mountains

Insurance

Group

Ltd.

1,390

2,482,540

13,804,100

Leisure

Products

2

.0

%

YETI

Holdings,

Inc.*

128,100

5,296,935

Machinery

3

.8

%

Hillman

Solutions

Corp.*

971,400

9,859,710

Personal

Care

Products

2

.8

%

Inter

Parfums,

Inc.

52,400

7,371,632

Professional

Services

6

.4

%

Verra

Mobility

Corp.,

Class

A*

554,800

16,716,124

Common

Stocks

Shares

Value

($)

Real

Estate

Management

&

Development

3

.7

%

Cushman

&

Wakefield

plc*

751,400

9,850,854

Software

3

.1

%

MeridianLink,

Inc.*

345,400

8,161,802

Specialty

Retail

1

.8

%

America's

Car-Mart,

Inc.*(a)

68,300

4,729,775

Trading

Companies

&

Distributors

3

.2

%

Beacon

Roofing

Supply,

Inc.*(a)

81,100

8,337,080

Total

Common

Stocks

(cost

$190,568,225)

259,013,956

Repurchase

Agreement

2

.9

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$7,644,108,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$7,796,992.(b)

7,642,974

7,642,974

Total

Repurchase

Agreement

(cost

$7,642,974)

7,642,974

Total

Investments

(cost

$198,211,199)

—

101.7%

266,656,930

Liabilities

in

excess

of

other

assets

—

(1.7)%

(

4,386,803

)

NET

ASSETS

—

100.0%

$

262,270,127

*

Denotes

a

non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$9,169,839,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$7,642,974

and

by

$1,763,668

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

4.75%,

and

maturity

dates

ranging

from

8/15/2024

–

11/15/2053,

a

total

value

of

$9,406,642.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$7,642,974.

48

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

WCM

Focused

Small

Cap

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

WCM

Focused

Small

Cap

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

49

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

259,013,956

$

–

$

–

$

259,013,956

Repurchase

Agreement

–

7,642,974

–

7,642,974

Total

$

259,013,956

$

7,642,974

$

–

$

266,656,930

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Geneva

Small

Cap

Growth

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

1

Common

Stocks

96

.1

%

Shares

Value

($)

Automobile

Components

1

.5

%

Dorman

Products,

Inc.*

152,830

15,492,377

Fox

Factory

Holding

Corp.*(a)

193,183

10,314,040

25,806,417

Banks

1

.1

%

Axos

Financial,

Inc.*

248,215

18,122,177

Biotechnology

0

.7

%

Vericel

Corp.*(a)

247,249

12,491,020

Broadline

Retail

2

.0

%

Ollie's

Bargain

Outlet

Holdings,

Inc.*

345,728

33,756,882

Building

Products

5

.6

%

AAON,

Inc.(a)

560,961

49,661,878

Trex

Co.,

Inc.*

527,978

44,154,800

93,816,678

Capital

Markets

0

.6

%

Hamilton

Lane,

Inc.,

Class

A

68,442

9,880,972

Chemicals

2

.7

%

Balchem

Corp.

254,864

45,228,165

Commercial

Services

&

Supplies

2

.3

%

Casella

Waste

Systems,

Inc.,

Class

A*(a)

365,022

37,801,678

Communications

Equipment

0

.9

%

Digi

International,

Inc.*

581,298

15,869,435

Construction

&

Engineering

4

.5

%

Construction

Partners,

Inc.,

Class

A*(a)

1,169,635

75,616,903

Consumer

Staples

Distribution

&

Retail

0

.7

%

Grocery

Outlet

Holding

Corp.*

579,290

11,330,912

Diversified

Consumer

Services

1

.4

%

Bright

Horizons

Family

Solutions,

Inc.*(a)

201,153

24,188,648

Electronic

Equipment,

Instruments

&

Components

4

.5

%

ePlus,

Inc.*

310,110

28,505,311

Novanta,

Inc.*

262,685

47,593,269

76,098,580

Financial

Services

0

.9

%

I3

Verticals,

Inc.,

Class

A*

630,926

15,463,996

Food

Products

1

.8

%

J

&

J

Snack

Foods

Corp.(a)

174,689

29,470,034

Ground

Transportation

1

.3

%

Marten

Transport

Ltd.

1,131,568

21,284,794

Health

Care

Equipment

&

Supplies

5

.8

%

Globus

Medical,

Inc.,

Class

A*

532,671

38,331,005

LeMaitre

Vascular,

Inc.(a)

306,879

26,664,716

Neogen

Corp.*(a)

733,955

12,499,254

STAAR

Surgical

Co.*(a)

243,131

10,029,154

UFP

Technologies,

Inc.*(a)

27,898

8,971,718

96,495,847

Health

Care

Providers

&

Services

1

.8

%

HealthEquity,

Inc.*

277,808

21,802,372

Option

Care

Health,

Inc.*(a)

277,938

8,251,979

30,054,351

Health

Care

Technology

1

.8

%

Certara,

Inc.*

1,900,591

29,668,226

Common

Stocks

Shares

Value

($)

Hotels,

Restaurants

&

Leisure

3

.4

%

Texas

Roadhouse,

Inc.,

Class

A

325,782

56,884,795

Household

Products

1

.1

%

WD-40

Co.(a)

73,952

19,346,583

Insurance

4

.4

%

Kinsale

Capital

Group,

Inc.(a)

136,623

62,446,275

Palomar

Holdings,

Inc.*

118,632

10,915,330

73,361,605

IT

Services

1

.5

%

Perficient,

Inc.*

325,907

24,576,647

Life

Sciences

Tools

&

Services

3

.2

%

Azenta,

Inc.*(a)

173,907

10,832,667

BioLife

Solutions,

Inc.*

299,970

7,205,279

Bio-Techne

Corp.

346,249

28,250,456

Mesa

Laboratories,

Inc.(a)

66,877

7,658,754

53,947,156

Machinery

8

.3

%

Barnes

Group,

Inc.

93,341

3,765,376

Donaldson

Co.,

Inc.

246,781

18,464,154

ESCO

Technologies,

Inc.

297,232

36,547,647

RBC

Bearings,

Inc.*(a)

195,678

56,910,990

SPX

Technologies,

Inc.*

158,915

23,446,319

139,134,486

Professional

Services

7

.9

%

CBIZ,

Inc.*

100,511

6,975,463

ExlService

Holdings,

Inc.*

1,534,918

54,121,209

Exponent,

Inc.

518,722

55,026,030

NV5

Global,

Inc.*

153,440

15,825,801

131,948,503

Real

Estate

Management

&

Development

0

.9

%

FirstService

Corp.

84,477

14,746,305

Semiconductors

&

Semiconductor

Equipment

3

.7

%

Onto

Innovation,

Inc.*

321,089

61,424,326

Software

17

.9

%

Agilysys,

Inc.*

238,829

26,770,343

Alarm.com

Holdings,

Inc.*

438,678

30,948,733

Blackbaud,

Inc.*

413,257

32,804,341

BlackLine,

Inc.*

290,062

13,783,746

Descartes

Systems

Group,

Inc.

(The)*

491,476

49,958,535

DoubleVerify

Holdings,

Inc.*

931,328

19,669,647

Envestnet,

Inc.*(a)

300,738

18,639,741

Fair

Isaac

Corp.*(a)

20,207

32,331,200

SPS

Commerce,

Inc.*(a)

155,656

33,531,416

Tyler

Technologies,

Inc.*

47,844

27,180,655

Vertex,

Inc.,

Class

A*(a)

337,776

13,392,818

299,011,175

Trading

Companies

&

Distributors

1

.9

%

SiteOne

Landscape

Supply,

Inc.*(a)

220,969

32,411,733

Total

Common

Stocks

(cost

$886,717,647)

1,609,239,029

2

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Geneva

Small

Cap

Growth

Fund

Repurchase

Agreements

1

.0

%

Principal

Amount

($)

Value

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$311,738,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$317,973.(b)

311,692

311,692

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$1,000,148,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$1,020,151.(b)

1,000,000

1,000,000

ING

Financial

Services

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$14,002,077,

collateralized

by

U.S.

Government

Treasury

Securities,

4.38%,

maturing

5/15/2034;

total

market

value

$14,280,002.(b)

14,000,000

14,000,000

Nomura

Securities

International,

Inc.,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$1,000,149,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$1,020,000.(b)

1,000,000

1,000,000

Total

Repurchase

Agreements

(cost

$16,311,692)

16,311,692

Total

Investments

(cost

$903,029,339)

—

97.1%

1,625,550,721

Other

assets

in

excess

of

liabilities

—

2.9%

48,639,907

NET

ASSETS

—

100.0%

$

1,674,190,628

*

Denotes

a

non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$42,144,487,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$16,311,692

and

by

$27,625,069

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

6.13%,

and

maturity

dates

ranging

from

8/1/2024

–

2/15/2054,

a

total

value

of

$43,936,761.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$16,311,692.

Nationwide

Geneva

Small

Cap

Growth

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

3

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

4

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Geneva

Small

Cap

Growth

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

1,609,239,029

$

–

$

–

$

1,609,239,029

Repurchase

Agreements

–

16,311,692

–

16,311,692

Total

$

1,609,239,029

$

16,311,692

$

–

$

1,625,550,721

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

1

Asset-Backed

Securities

10.8%

Principal

Amount

($)

Value

($)

CAYMAN

ISLANDS

5.3%

Financial

Services

2.3%

Apidos

CLO

XV,

Series

2013-15A,

Class

A1RR,

6.55%,

4/20/2031(a)(b)

1,519,446

1,521,421

Bain

Capital

Credit

CLO,

Series

2020-1A,

Class

A1R,

6.53%,

4/18/2033(a)(b)

3,575,000

3,589,489

Carlyle

US

CLO

Ltd.,

Series

2024-2A,

Class

B,

7.37%,

4/25/2037(a)

(b)

2,600,000

2,617,966

Cedar

Funding

IX

CLO

Ltd.,

Series

2018-9A,

Class

AR,

6.70%,

7/20/2037(a)(b)

2,060,000

2,060,812

Elmwood

CLO

29

Ltd,

Series

2024-5A,

Class

AR2,

7.02%,

4/20/2037(a)(b)

1,750,000

1,759,240

Mountain

View

CLO

XV

Ltd.,

Series

2019-2A,

Class

A1R,

6.97%,

7/15/2037(a)(b)

1,725,000

1,737,530

Palmer

Square

Loan

Funding

Ltd.,

Series

2022-3A,

Class

A1BR,

6.70%,

4/15/2031(a)(b)

2,075,000

2,076,525

PARK

BLUE

CLO

Ltd.,

Series

2022-2A,

Class

A1R,

6.70%,

7/20/2037(a)(b)

1,450,000

1,450,571

Voya

CLO

Ltd.,

Series

2019-2A,

Class

AR,

6.48%,

7/20/2032(a)(b)

2,975,000

2,975,018

19,788,572

Other

3.0%

AB

BSL

CLO

1

Ltd.,

Series

2020-1A,

Class

A1R,

6.67%,

1/15/2035(a)(b)

635,000

635,554

AMMC

CLO

XI

Ltd.,

Series

2012-11A,

Class

A1R2,

6.60%,

4/30/2031(a)(b)

932,060

932,293

CIFC

Funding

Ltd.,

Series

2018-2A,

Class

A1,

6.58%,

4/20/2031(a)(b)

1,477,900

1,484,757

Diameter

Capital

CLO

4

Ltd.,

Series

2022-4A,

Class

A1R,

7.13%,

1/15/2037(a)(b)

2,000,000

2,016,908

LCM

39

Ltd.,

Series

39A,

Class

A1,

7.26%,

10/15/2034(a)(b)

745,000

747,313

Oaktree

CLO

Ltd.,

Series

2021-1A,

Class

A1,

6.72%,

7/15/2034(a)(b)

3,500,000

3,500,518

OHA

Credit

Funding

6

Ltd.,

Series

2020-6A,

Class

AR,

6.68%,

7/20/2034(a)

(b)

3,300,000

3,305,406

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Other

Palmer

Square

CLO

Ltd.,

Series

2019-1A,

Class

A1R,

6.73%,

11/14/2034(a)(b)

4,000,000

4,007,188

PARK

BLUE

CLO

Ltd.,

Series

2023-3A,

Class

A1,

7.28%,

4/20/2036(a)

(b)

3,500,000

3,522,841

RR

26

Ltd.,

Series

2023-

26A,

Class

A1,

7.08%,

4/15/2038(a)(b)

2,200,000

2,213,693

Southwick

Park

CLO

LLC,

Series

2019-4A,

Class

A1R,

6.60%,

7/20/2032(a)(b)

2,000,000

2,002,844

24,369,315

44,157,887

JERSEY

1.3%

Financial

Services

0.3%

Neuberger

Berman

Loan

Advisers

CLO

50

Ltd.,

Series

2022-50A,

Class

AR,

6.53%,

7/23/2036(a)

(b)

2,450,000

2,450,000

Other

1.0%

Benefit

Street

Partners

CLO

XXX

Ltd.,

Series

2023-30A,

Class

A,

7.38%,

4/25/2036(a)(b)

3,200,000

3,219,270

Golub

Capital

Partners

CLO

74

B

Ltd.,

Series

2024-74A,

Class

A,

6.81%,

7/25/2037(a)(b)

1,950,000

1,953,120

Halseypoint

CLO

7

Ltd.,

Series

2023-7A,

Class

A,

7.53%,

7/20/2036(a)

(b)

2,100,000

2,124,585

Silver

Point

CLO

1

Ltd.,

Series

2022-1A,

Class

A1,

7.73%,

1/20/2036(a)

(b)

1,100,000

1,107,472

8,404,447

10,854,447

UNITED

STATES

4.2%

Automobiles

1.4%

Bank

of

America

Auto

Trust,

Series

2023-

2A,

Class

A2,

5.85%,

8/17/2026(b)

1,317,265

1,319,091

Ford

Credit

Auto

Lease

Trust,

Series

2024-A,

Class

A2A,

5.24%,

7/15/2026

3,450,000

3,446,833

GMF

Floorplan

Owner

Revolving

Trust,

Series

2023-1,

Class

A1,

5.34%,

6/15/2028(b)

2,200,000

2,219,070

2

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Automobiles

Hyundai

Auto

Lease

Securitization

Trust,

Series

2024-A,

Class

A2A,

5.15%,

6/15/2026(b)

3,271,386

3,267,112

Hyundai

Auto

Receivables

Trust,

Series

2023-A,

Class

A2A,

5.19%,

12/15/2025

629,717

629,210

Santander

Drive

Auto

Receivables

Trust

Series

2021-1,

Class

D,

1.13%,

11/16/2026

204,698

201,760

Series

2021-3,

Class

D,

1.33%,

9/15/2027

862,222

841,154

11,924,230

Credit

Card

2.0%

American

Express

Credit

Account

Master

Trust,

Series

2022-2,

Class

A,

3.39%,

5/15/2027

2,650,000

2,614,155

Barclays

Dryrock

Issuance

Trust

Series

2023-2,

Class

A,

6.24%,

8/15/2028(a)

2,350,000

2,363,376

Series

2023-1,

Class

A,

4.72%,

2/15/2029

4,400,000

4,389,045

Capital

One

Multi-Asset

Execution

Trust

Series

2022-A2,

Class

A,

3.49%,

5/15/2027

2,650,000

2,614,288

Series

2022-A3,

Class

A,

4.95%,

10/15/2027

2,200,000

2,198,379

Discover

Card

Execution

Note

Trust,

Series

2023-

A1,

Class

A,

4.31%,

3/15/2028

2,300,000

2,280,458

16,459,701

Financial

Services

0.7%

Ford

Credit

Auto

Owner

Trust,

Series

2024-

1,

Class

A,

4.87%,

8/15/2036(b)(c)

2,225,000

2,250,480

PPM

CLO

6-R

Ltd.,

Series

2022-6RA,

Class

A1R,

7.23%,

1/20/2037(a)(b)

3,300,000

3,342,900

5,593,380

Home

Equity

0.1%

J.P.

Morgan

Mortgage

Trust,

Series

2023-

HE3,

Class

A1,

6.94%,

5/25/2054(a)(b)

728,411

733,077

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Other

0.0%

†

Sunnova

Hestia

I

Issuer

LLC,

Series

2023-

GRID1,

Class

1A,

5.75%,

12/20/2050(b)

262,053

267,424

34,977,812

Total

Asset-Backed

Securities

(cost  $89,417,028)

89,990,146

Collateralized

Mortgage

Obligations

3.8%

UNITED

STATES

3.8%

Angel

Oak

Mortgage

Trust,

Series

2021-6,

Class

A1,

1.46%,

9/25/2066(a)(b)

512,050

419,962

BINOM

Securitization

Trust,

Series

2022-

INV1,

Class

A1,

4.44%,

8/25/2057(a)(b)

1,043,222

1,006,276

BRAVO

Residential

Funding

Trust,

Series

2024-NQM1,

Class

A1,

5.94%,

12/1/2063(b)(c)

1,716,963

1,726,254

COLT

Mortgage

Loan

Trust,

Series

2021-

2,

Class

A1,

0.92%,

8/25/2066(a)(b)

1,179,042

969,925

Connecticut

Avenue

Securities

Trust

Series

2023-R03,

Class

2M2,

9.25%,

4/25/2043(a)(b)

694,218

743,329

Series

2023-R05,

Class

1M2,

8.45%,

6/25/2043(a)(b)

390,000

412,546

Series

2023-R06,

Class

1M2,

8.05%,

7/25/2043(a)(b)

400,000

417,844

Series

2023-R08,

Class

1M2,

7.85%,

10/25/2043(a)(b)

760,000

784,326

Series

2024-R01,

Class

1M2,

7.15%,

1/25/2044(a)(b)

600,000

604,799

Series

2024-R02,

Class

1M2,

7.15%,

2/25/2044(a)(b)

1,600,000

1,609,741

Series

2024-R03,

Class

2M2,

7.30%,

3/25/2044(a)(b)

675,000

680,413

FHLMC

STACR

REMIC

Trust

Series

2022-HQA1,

Class

M1B,

8.85%,

3/25/2042(a)(b)

650,000

682,842

Series

2024-HQA1,

Class

A1,

6.60%,

3/25/2044(a)(b)

1,850,469

1,854,522

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

3

Collateralized

Mortgage

Obligations

Principal

Amount

($)

Value

($)

UNITED

STATES

FHLMC

STACR

REMIC

Trust

Series

2024-HQA1,

Class

M2,

7.35%,

3/25/2044(a)(b)

825,000

828,613

Series

2024-DNA2,

Class

M1,

6.55%,

5/25/2044(a)(b)

2,720,959

2,725,587

FHLMC

STACR

Trust,

Series

2019-HQA2,

Class

M2,

7.51%,

4/25/2049(a)(b)

707,758

721,149

GNMA

REMIC,

Series

2021-135,

Class

A,

2.00%,

8/20/2051

7,218,595

5,903,030

J.P.

Morgan

Mortgage

Trust

Series

2024-4,

Class

A5A,

6.00%,

10/25/2054(a)(b)

950,000

950,922

Series

2022-DSC1,

Class

A3,

4.75%,

1/25/2063(a)(b)

1,186,094

1,139,235

Series

2023-DSC1,

Class

A1,

4.62%,

7/25/2063(a)(b)

1,158,558

1,125,786

Series

2024-VIS2,

Class

A1,

5.85%,

11/25/2064(a)(b)

1,700,000

1,708,349

OBX

Trust

Series

2024-NQM1,

Class

A1,

5.93%,

11/25/2063(b)(c)

1,694,458

1,702,986

Series

2024-NQM1,

Class

A2,

6.25%,

11/25/2063(b)(c)

135,557

136,209

Series

2024-NQM4,

Class

A1,

6.07%,

1/25/2064(b)(c)

1,938,688

1,948,329

Towd

Point

Mortgage

Trust,

Series

2020-1,

Class

A2A,

3.10%,

1/25/2060(a)(b)

770,000

687,133

31,490,107

0

Total

Collateralized

Mortgage

Obligations

(cost

$31,320,329)

31,490,107

Commercial

Mortgage-Backed

Securities

4.5%

UNITED

STATES

4.5%

BANK

Series

2022-BNK43,

Class

A5,

4.40%,

8/15/2055

1,250,000

1,194,798

Series

2020-BN27,

Class

A5,

2.14%,

4/15/2063

796,000

668,396

Series

2022-BNK40,

Class

A4,

3.39%,

3/15/2064(a)

2,380,000

2,142,319

Commercial

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

UNITED

STATES

Bank

of

America

Merrill

Lynch

Commercial

Mortgage

Trust

,

Series

2016-UB10,

Class

A4,

3.17%,

7/15/2049

735,000

705,851

BANK5

,

Series

2024-

5YR7,

Class

A3,

5.77%,

6/15/2057

1,725,000

1,777,517

BBCMS

Mortgage

Trust

Series

2024-C24,

Class

A5,

5.42%,

2/15/2057

1,075,000

1,108,332

Series

2024-C26,

Class

B,

5.94%,

5/15/2057(a)

1,750,000

1,811,557

BLP

Commercial

Mortgage

Trust

,

Series

2024-

IND2,

Class

A,

6.67%,

3/15/2041(a)(b)

1,675,000

1,660,866

BMO

Mortgage

Trust

,

Series

2024-5C4,

Class

A3,

6.53%,

5/15/2057(a)

1,900,000

2,018,682

BX

Commercial

Mortgage

Trust

,

Series

2024-

XL5,

Class

A,

6.72%,

3/15/2041(a)(b)

1,486,423

1,476,204

BX

Trust

Series

2024-BIO,

Class

A,

6.97%,

2/15/2041(a)

(b)

2,775,000

2,755,922

Series

2024-PAT,

Class

A,

7.42%,

3/15/2041(a)

(b)

650,000

649,187

Series

2024-PAT,

Class

B,

8.37%,

3/15/2041(a)

(b)

225,000

224,719

Citigroup

Commercial

Mortgage

Trust

,

Series

2019-GC41,

Class

A4,

2.62%,

8/10/2056

500,000

449,863

FHLMC

Multifamily

Structured

Pass-

Through

Certificates

REMIC

Series

K077,

Class

A2,

3.85%,

5/25/2028(a)

2,000,000

1,958,676

Series

K086,

Class

A2,

3.86%,

11/25/2028(a)

1,000,000

978,760

Series

K126,

Class

A2,

2.07%,

1/25/2031

1,000,000

872,245

Series

KF153,

Class

AS,

6.02%,

2/25/2033(a)

736,335

737,593

FNMA

ACES

REMIC,

Series

2022-M1,

Class

A2,

1.67%,

10/25/2031(a)

1,000,000

830,471

GS

Mortgage

Securities

Trust

,

Series

2017-

GS7,

Class

A4,

3.43%,

8/10/2050

1,400,000

1,322,716

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

4

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Commercial

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

UNITED

STATES

Series

2022-NLP,

Class

B,

6.44%,

4/15/2037(a)

(b)

1,464,419

1,383,876

Series

2022-OPO,

Class

A,

3.02%,

1/5/2039(b)

1,841,000

1,668,633

JPMBB

Commercial

Mortgage

Securities

Trust

Series

2015-C30,

Class

AS,

4.23%,

7/15/2048(a)

500,000

482,804

Series

2015-C31,

Class

A3,

3.80%,

8/15/2048

333,756

327,196

JPMDB

Commercial

Mortgage

Securities

Trust

,

Series

2017-

C7,

Class

A5,

3.41%,

10/15/2050

500,000

473,013

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

,

Series

2015-

C25,

Class

A4,

3.37%,

10/15/2048

535,000

525,063

Morgan

Stanley

Capital

I

Trust

,

Series

2017-

H1,

Class

AS,

3.77%,

6/15/2050

500,000

472,370

MSWF

Commercial

Mortgage

Trust

,

Series

2023-2,

Class

A2,

6.89%,

12/15/2056

2,050,000

2,162,645

One

New

York

Plaza

Trust

,

Series

2020-

1NYP,

Class

A,

6.39%,

1/15/2036(a)(b)

1,300,000

1,233,375

TYSN

Mortgage

Trust

,

Series

2023-CRNR,

Class

A,

6.58%,

12/10/2033(a)(b)

1,850,000

1,937,563

Wells

Fargo

Commercial

Mortgage

Trust

Series

2019-C52,

Class

A5,

2.89%,

8/15/2052

530,000

478,665

Series

2016-C33,

Class

A4,

3.43%,

3/15/2059

1,225,000

1,189,176

Total

Commercial

Mortgage-Backed

Securities

(cost

$38,368,771)

37,679,053

Corporate

Bonds

31.6%

BELGIUM

0.3%

Beverages

0.3%

Anheuser-Busch

Cos.

LLC,

4.70%,

2/1/2036

2,097,000

2,048,978

CANADA

1.0%

Banks

0.3%

Bank

of

Nova

Scotia

(The),

2.20%,

2/3/2025

1,000,000

984,563

Corporate

Bonds

Principal

Amount

($)

Value

($)

CANADA

Banks

Canadian

Imperial

Bank

of

Commerce,

1.25%,

6/22/2026(d)

850,000

795,865

Royal

Bank

of

Canada,

2.05%,

1/21/2027

500,000

471,188

2,251,616

Capital

Markets

0.0%

†

Brookfield

Finance,

Inc.,

4.85%,

3/29/2029(d)

300,000

300,974

Oil,

Gas

&

Consumable

Fuels

0.2%

Enbridge,

Inc.

1.60%,

10/4/2026(d)

400,000

373,408

2.50%,

8/1/2033(d)

925,000

754,236

1,127,644

Professional

Services

0.0%

†

Thomson

Reuters

Corp.,

3.35%,

5/15/2026

100,000

97,298

Software

0.1%

Constellation

Software,

Inc.,

5.46%,

2/16/2034(b)

622,000

636,816

Wireless

Telecommunication

Services

0.4%

Rogers

Communications,

Inc.,

3.20%,

3/15/2027

3,265,000

3,136,053

7,550,401

CHINA

0.4%

Semiconductors

&

Semiconductor

Equipment

0.4%

NXP

BV

3.15%,

5/1/2027

265,000

253,496

3.40%,

5/1/2030(d)

2,725,000

2,524,082

2.50%,

5/11/2031(d)

400,000

342,455

3,120,033

FRANCE

0.2%

Banks

0.2%

BPCE

SA,

4.63%,

9/12/2028(b)

1,250,000

1,227,607

GERMANY

0.0%

†

Capital

Markets

0.0%

†

Deutsche

Bank

AG,

(SOFR

+

1.22%),

2.31%,

11/16/2027(e)

150,000

140,229

IRELAND

0.3%

Consumer

Finance

0.3%

AerCap

Ireland

Capital

DAC

3.00%,

10/29/2028

1,075,000

994,712

3.30%,

1/30/2032

764,000

672,551

3.40%,

10/29/2033

1,325,000

1,143,811

2,811,074

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

5

Corporate

Bonds

Principal

Amount

($)

Value

($)

JAPAN

0.3%

Banks

0.3%

Sumitomo

Mitsui

Financial

Group,

Inc.,

0.95%,

1/12/2026(d)

2,250,000

2,124,702

Capital

Markets

0.0%

†

Nomura

Holdings,

Inc.,

5.10%,

7/3/2025

320,000

319,153

2,443,855

MEXICO

0.5%

Beverages

0.2%

Coca-Cola

Femsa

SAB

de

CV,

2.75%,

1/22/2030

1,852,000

1,679,598

Construction

&

Engineering

0.3%

Mexico

City

Airport

Trust,

Reg.

S,

3.88%,

4/30/2028

2,510,000

2,361,633

Metals

&

Mining

0.0%

†

Southern

Copper

Corp.,

3.88%,

4/23/2025(d)

185,000

182,680

4,223,911

NETHERLANDS

0.0%

†

Banks

0.0%

†

Cooperatieve

Rabobank

UA,

4.38%,

8/4/2025

250,000

247,358

SAUDI

ARABIA

0.3%

Oil,

Gas

&

Consumable

Fuels

0.3%

Saudi

Arabian

Oil

Co.

Reg.

S,

3.50%,

4/16/2029

2,370,000

2,224,577

5.75%,

7/17/2054(b)(d)

200,000

196,120

2,420,697

SOUTH

KOREA

0.0%

†

Metals

&

Mining

0.0%

†

POSCO,

5.75%,

1/17/2028(b)

350,000

358,261

SPAIN

0.4%

Banks

0.3%

Banco

Santander

SA,

6.92%,

8/8/2033(d)

2,400,000

2,573,328

Diversified

Telecommunication

Services

0.1%

Telefonica

Emisiones

SA,

4.67%,

3/6/2038

825,000

748,920

3,322,248

SWITZERLAND

0.3%

Capital

Markets

0.3%

UBS

Group

AG

(SOFR

+

1.56%),

2.59%,

9/11/2025(b)(e)

793,000

790,289

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.76%),

9.25%,

11/13/2033(b)(d)(e)(f)

370,000

418,712

Corporate

Bonds

Principal

Amount

($)

Value

($)

SWITZERLAND

Capital

Markets

(SOFR

+

5.02%),

9.02%,

11/15/2033(b)

(d)(e)

975,000

1,201,969

2,410,970

UNITED

ARAB

EMIRATES

0.3%

Oil,

Gas

&

Consumable

Fuels

0.3%

Galaxy

Pipeline

Assets

Bidco

Ltd.,

Reg.

S,

2.63%,

3/31/2036

2,770,000

2,295,331

UNITED

KINGDOM

1.1%

Banks

0.2%

Lloyds

Banking

Group

plc

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.75%),

4.72%,

8/11/2026(e)

730,000

725,457

(ICE

LIBOR

USD

3

Month

+

1.21%),

3.57%,

11/7/2028(e)

1,235,000

1,182,018

NatWest

Group

plc,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.27%),

5.52%,

9/30/2028(e)

275,000

279,456

2,186,931

Beverages

0.0%

†

Diageo

Capital

plc,

2.00%,

4/29/2030(d)

400,000

349,018

Consumer

Finance

0.0%

†

Macquarie

Airfinance

Holdings

Ltd.,

6.40%,

3/26/2029(b)

185,000

189,865

Diversified

Telecommunication

Services

0.2%

British

Telecommunications

plc,

9.62%,

12/15/2030(c)

1,470,000

1,830,750

Food

Products

0.1%

Unilever

Capital

Corp.,

2.90%,

5/5/2027

450,000

432,058

Ground

Transportation

0.1%

Ashtead

Capital,

Inc.,

5.80%,

4/15/2034(b)

952,000

968,729

Tobacco

0.5%

BAT

Capital

Corp.

3.56%,

8/15/2027

300,000

289,138

2.26%,

3/25/2028(d)

970,000

884,019

7.75%,

10/19/2032

110,000

126,850

6.00%,

2/20/2034

2,384,000

2,480,098

BAT

International

Finance

plc,

4.45%,

3/16/2028

325,000

320,066

4,100,171

10,057,522

6

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

26.2%

Aerospace

&

Defense

1.0%

Boeing

Co.

(The)

5.04%,

5/1/2027(d)

200,000

198,607

6.53%,

5/1/2034(b)

600,000

629,840

3.38%,

6/15/2046

1,800,000

1,182,991

3.85%,

11/1/2048

450,000

310,596

6.86%,

5/1/2054(b)

548,000

580,137

GE

Capital

International

Funding

Co.

Unlimited

Co.,

4.42%,

11/15/2035

1,025,000

973,602

Huntington

Ingalls

Industries,

Inc.,

3.48%,

12/1/2027

500,000

477,568

RTX

Corp.

3.95%,

8/16/2025

800,000

790,830

6.10%,

3/15/2034

2,670,000

2,877,356

4.05%,

5/4/2047

825,000

670,278

8,691,805

Automobiles

0.6%

General

Motors

Co.,

5.95%,

4/1/2049

925,000

910,949

Hyundai

Capital

America

5.70%,

6/26/2030(b)

1,300,000

1,344,375

6.20%,

9/21/2030(b)

2,410,000

2,555,514

4,810,838

Banks

3.1%

Bank

of

America

Corp.,

Series

L,

3.95%,

4/21/2025(d)

1,000,000

989,585

Bank

of

America

Corp.

(CME

Term

SOFR

3

Month

+

1.84%),

3.82%,

1/20/2028(e)

500,000

487,252

(SOFR

+

1.63%),

5.20%,

4/25/2029(d)(e)

2,745,000

2,778,522

(SOFR

+

1.06%),

2.09%,

6/14/2029(e)

4,075,000

3,683,567

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.20%),

2.48%,

9/21/2036(e)

1,209,000

992,065

6.11%,

1/29/2037

3,050,000

3,280,131

Citigroup,

Inc.

4.40%,

6/10/2025

200,000

198,582

4.45%,

9/29/2027

400,000

394,903

(SOFR

+

1.35%),

3.06%,

1/25/2033(e)

3,650,000

3,170,437

JPMorgan

Chase

&

Co.

2.95%,

10/1/2026

753,000

725,938

(CME

Term

SOFR

3

Month

+

2.52%),

2.96%,

5/13/2031(e)

400,000

358,061

(SOFR

+

1.26%),

2.96%,

1/25/2033(e)

425,000

370,499

(SOFR

+

1.80%),

4.59%,

4/26/2033(e)

5,075,000

4,932,137

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Banks

M&T

Bank

Corp.

(SOFR

+

2.80%),

7.41%,

10/30/2029(d)(e)

1,135,000

1,219,969

(SOFR

+

1.85%),

5.05%,

1/27/2034(e)

1,280,000

1,221,979

US

Bancorp,

(SOFR

+

2.02%),

5.78%,

6/12/2029(e)

1,025,000

1,055,600

Wells

Fargo

&

Co.,

(SOFR

+

2.10%),

4.90%,

7/25/2033(e)

366,000

359,731

26,218,958

Beverages

0.3%

Coca-Cola

Consolidated,

Inc.,

5.45%,

6/1/2034

620,000

640,367

Constellation

Brands,

Inc.,

4.40%,

11/15/2025

800,000

793,989

Keurig

Dr

Pepper,

Inc.

3.95%,

4/15/2029(d)

573,000

554,988

3.20%,

5/1/2030

470,000

432,902

2,422,246

Biotechnology

1.0%

AbbVie,

Inc.

4.95%,

3/15/2031

1,420,000

1,447,901

4.30%,

5/14/2036

742,000

701,665

4.25%,

11/21/2049

721,000

616,125

Amgen,

Inc.

5.25%,

3/2/2030(d)

1,848,000

1,897,162

5.25%,

3/2/2033(d)

1,882,000

1,912,667

Regeneron

Pharmaceuticals,

Inc.,

1.75%,

9/15/2030(d)

1,546,000

1,306,752

7,882,272

Building

Products

0.4%

Carlisle

Cos.,

Inc.,

2.75%,

3/1/2030(d)

371,000

333,584

Carrier

Global

Corp.,

5.90%,

3/15/2034(d)

3,075,000

3,290,421

3,624,005

Capital

Markets

2.2%

Ares

Capital

Corp.

2.15%,

7/15/2026(d)

175,000

163,780

2.88%,

6/15/2028

500,000

451,200

Barings

BDC,

Inc.,

3.30%,

11/23/2026

25,000

23,411

Blackstone

Private

Credit

Fund,

2.70%,

1/15/2025

130,000

128,159

Charles

Schwab

Corp.

(The)

3.63%,

4/1/2025

1,000,000

988,489

2.45%,

3/3/2027

205,000

193,387

CME

Group,

Inc.,

2.65%,

3/15/2032

60,000

52,557

FactSet

Research

Systems,

Inc.,

2.90%,

3/1/2027(d)

925,000

879,597

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

7

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Capital

Markets

FS

KKR

Capital

Corp.

3.40%,

1/15/2026

200,000

192,380

2.63%,

1/15/2027

500,000

459,769

3.25%,

7/15/2027

225,000

208,553

Golub

Capital

BDC,

Inc.,

2.50%,

8/24/2026(d)

163,000

152,168

Intercontinental

Exchange,

Inc.,

3.63%,

9/1/2028(b)

585,000

559,404

LPL

Holdings,

Inc.,

4.00%,

3/15/2029(b)

915,000

862,279

Morgan

Stanley

4.00%,

7/23/2025

200,000

197,761

5.00%,

11/24/2025

300,000

299,694

3.63%,

1/20/2027

1,000,000

976,312

(SOFR

+

1.59%),

5.16%,

4/20/2029(d)(e)

2,255,000

2,277,702

(CME

Term

SOFR

3

Month

+

1.89%),

4.43%,

1/23/2030(e)

4,300,000

4,226,285

(SOFR

+

1.73%),

5.47%,

1/18/2035(e)

420,000

427,421

(SOFR

+

1.36%),

2.48%,

9/16/2036(e)

1,975,000

1,601,563

MSCI,

Inc.,

4.00%,

11/15/2029(b)

1,180,000

1,117,812

Nasdaq,

Inc.,

3.85%,

6/30/2026(d)

200,000

196,830

Prospect

Capital

Corp.

3.71%,

1/22/2026

400,000

384,504

3.44%,

10/15/2028

150,000

131,325

S&P

Global,

Inc.,

4.75%,

8/1/2028

780,000

786,291

17,938,633

Chemicals

0.4%

Cabot

Corp.,

4.00%,

7/1/2029(d)

720,000

693,309

Celanese

US

Holdings

LLC

6.05%,

3/15/2025

643,000

643,407

1.40%,

8/5/2026

230,000

213,713

6.33%,

7/15/2029(d)

250,000

261,584

DuPont

de

Nemours,

Inc.,

4.49%,

11/15/2025(d)

150,000

148,744

EIDP,

Inc.,

2.30%,

7/15/2030

395,000

349,724

Huntsman

International

LLC,

4.50%,

5/1/2029

1,020,000

983,598

3,294,079

Commercial

Services

&

Supplies

0.4%

Cintas

Corp.

No.

2

3.45%,

5/1/2025

565,000

557,513

3.70%,

4/1/2027

4,000

3,907

Republic

Services,

Inc.,

3.95%,

5/15/2028

180,000

176,123

Veralto

Corp.,

5.45%,

9/18/2033(b)

2,550,000

2,609,010

3,346,553

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Communications

Equipment

0.1%

Motorola

Solutions,

Inc.,

4.60%,

5/23/2029

708,000

701,998

Construction

&

Engineering

0.1%

Quanta

Services,

Inc.

2.90%,

10/1/2030(d)

100,000

89,735

2.35%,

1/15/2032

505,000

421,452

511,187

Construction

Materials

0.0%

†

Martin

Marietta

Materials,

Inc.,

3.50%,

12/15/2027(d)

300,000

289,595

Consumer

Finance

0.3%

American

Express

Co.,

3.95%,

8/1/2025

200,000

197,661

Capital

One

Financial

Corp.,

3.75%,

7/28/2026

550,000

536,289

Ford

Motor

Credit

Co.

LLC,

5.85%,

5/17/2027(d)

1,358,000

1,372,349

2,106,299

Diversified

REITs

0.1%

GLP

Capital

LP,

5.75%,

6/1/2028

510,000

516,470

Simon

Property

Group

LP,

1.38%,

1/15/2027

80,000

73,821

VICI

Properties

LP

4.38%,

5/15/2025

190,000

187,917

4.50%,

1/15/2028(b)

250,000

243,543

1,021,751

Diversified

Telecommunication

Services

1.2%

AT&T,

Inc.

2.75%,

6/1/2031(d)

5,500,000

4,813,026

4.85%,

3/1/2039(d)

1,000,000

944,278

Sprint

Capital

Corp.,

8.75%,

3/15/2032

855,000

1,039,611

Verizon

Communications,

Inc.

0.85%,

11/20/2025

1,500,000

1,428,148

2.55%,

3/21/2031(d)

1,525,000

1,321,178

9,546,241

Electric

Utilities

0.8%

American

Electric

Power

Co.,

Inc.,

2.30%,

3/1/2030

100,000

87,158

Arizona

Public

Service

Co.,

2.20%,

12/15/2031

210,000

173,372

Commonwealth

Edison

Co.,

2.20%,

3/1/2030

149,000

131,599

Duke

Energy

Corp.,

4.30%,

3/15/2028

90,000

88,691

Entergy

Texas,

Inc.,

4.00%,

3/30/2029

100,000

97,203

Georgia

Power

Co.,

4.70%,

5/15/2032(d)

390,000

386,084

Indiana

Michigan

Power

Co.,

3.85%,

5/15/2028

200,000

193,500

8

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Electric

Utilities

Interstate

Power

and

Light

Co.,

4.10%,

9/26/2028

100,000

97,538

NSTAR

Electric

Co.,

3.20%,

5/15/2027

100,000

96,348

Oncor

Electric

Delivery

Co.

LLC

4.15%,

6/1/2032(d)

125,000

119,350

4.55%,

9/15/2032

160,000

157,305

Pacific

Gas

and

Electric

Co.,

3.30%,

8/1/2040

550,000

401,944

PacifiCorp

2.70%,

9/15/2030

100,000

88,603

5.80%,

1/15/2055(d)

1,410,000

1,399,528

PPL

Capital

Funding,

Inc.,

3.10%,

5/15/2026

50,000

48,471

Southern

Co.

(The),

Series

21-B,

1.75%,

3/15/2028

550,000

495,480

Southwestern

Electric

Power

Co.,

Series

N,

1.65%,

3/15/2026(d)

250,000

237,460

Tucson

Electric

Power

Co.,

1.50%,

8/1/2030

100,000

83,407

Union

Electric

Co.,

2.95%,

3/15/2030

100,000

91,715

Virginia

Electric

and

Power

Co.,

Series

B,

3.75%,

5/15/2027

185,000

180,532

Wisconsin

Power

and

Light

Co.

1.95%,

9/16/2031(d)

35,000

28,672

3.95%,

9/1/2032(d)

155,000

144,895

Xcel

Energy,

Inc.

3.35%,

12/1/2026

775,000

748,328

1.75%,

3/15/2027

850,000

785,347

6,362,530

Electrical

Equipment

0.3%

Regal

Rexnord

Corp.,

6.30%,

2/15/2030(d)

2,586,000

2,697,145

Electronic

Equipment,

Instruments

&

Components

0.1%

Allegion

US

Holding

Co.,

Inc.

3.55%,

10/1/2027(d)

60,000

57,623

5.60%,

5/29/2034

695,000

711,770

CDW

LLC,

3.25%,

2/15/2029

125,000

114,486

883,879

Energy

Equipment

&

Services

0.1%

Schlumberger

Finance

Canada

Ltd.,

1.40%,

9/17/2025

1,075,000

1,033,934

Entertainment

1.0%

Netflix,

Inc.

5.88%,

11/15/2028(d)

1,370,000

1,436,801

5.38%,

11/15/2029(b)

2,858,000

2,956,595

4.88%,

6/15/2030(b)

800,000

808,943

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Entertainment

Warnermedia

Holdings,

Inc.,

4.28%,

3/15/2032(d)

3,825,000

3,317,990

8,520,329

Financial

Services

0.1%

Block

Financial

LLC,

2.50%,

7/15/2028

275,000

250,448

Global

Payments,

Inc.,

5.30%,

8/15/2029

365,000

368,820

National

Rural

Utilities

Cooperative

Finance

Corp.

1.00%,

6/15/2026

100,000

93,290

1.35%,

3/15/2031

100,000

80,906

793,464

Food

Products

0.8%

Bunge

Ltd.

Finance

Corp.,

1.63%,

8/17/2025

1,300,000

1,252,960

Campbell

Soup

Co.,

5.40%,

3/21/2034

1,802,000

1,833,734

General

Mills,

Inc.,

4.20%,

4/17/2028

250,000

246,274

J

M

Smucker

Co.

(The)

5.90%,

11/15/2028

1,369,000

1,434,668

6.20%,

11/15/2033(d)

1,680,000

1,812,579

Kraft

Heinz

Foods

Co.,

3.75%,

4/1/2030

525,000

500,135

McCormick

&

Co.,

Inc.,

0.90%,

2/15/2026

250,000

235,147

7,315,497

Gas

Utilities

0.2%

Atmos

Energy

Corp.

3.00%,

6/15/2027(d)

50,000

47,860

1.50%,

1/15/2031

100,000

82,090

National

Fuel

Gas

Co.

5.50%,

1/15/2026

740,000

742,285

2.95%,

3/1/2031(d)

200,000

171,977

ONE

Gas,

Inc.,

4.25%,

9/1/2032

195,000

189,526

Piedmont

Natural

Gas

Co.,

Inc.,

3.50%,

6/1/2029

100,000

94,413

1,328,151

Ground

Transportation

0.1%

Penske

Truck

Leasing

Co.

LP,

5.25%,

7/1/2029(b)

758,000

767,227

Health

Care

Equipment

&

Supplies

0.6%

GE

HealthCare

Technologies,

Inc.,

6.38%,

11/22/2052(d)

670,000

745,783

Solventum

Corp.

5.40%,

3/1/2029(b)

1,875,000

1,898,205

5.45%,

3/13/2031(b)

1,315,000

1,326,505

5.60%,

3/23/2034(b)

925,000

930,628

4,901,121

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

9

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Health

Care

Providers

&

Services

1.8%

Adventist

Health

System,

5.76%,

12/1/2034

645,000

659,192

Cardinal

Health,

Inc.,

3.75%,

9/15/2025

500,000

492,595

Cencora,

Inc.,

2.80%,

5/15/2030

100,000

89,787

Centene

Corp.

4.25%,

12/15/2027

370,000

358,233

2.63%,

8/1/2031

800,000

666,834

Cigna

Group

(The)

2.40%,

3/15/2030

3,111,000

2,757,282

5.13%,

5/15/2031

540,000

548,216

CVS

Health

Corp.,

4.78%,

3/25/2038

3,525,000

3,237,862

HCA,

Inc.

5.25%,

6/15/2026

500,000

501,114

4.13%,

6/15/2029

270,000

260,472

5.45%,

4/1/2031

1,115,000

1,136,968

Humana,

Inc.,

5.95%,

3/15/2034

350,000

366,376

Laboratory

Corp.

of

America

Holdings,

1.55%,

6/1/2026(d)

1,446,000

1,358,341

UnitedHealth

Group,

Inc.

5.35%,

2/15/2033(d)

425,000

439,590

5.15%,

7/15/2034

1,124,000

1,141,133

5.88%,

2/15/2053(d)

775,000

820,118

5.05%,

4/15/2053(d)

271,000

256,412

15,090,525

Hotels,

Restaurants

&

Leisure

0.8%

Choice

Hotels

International,

Inc.

3.70%,

12/1/2029(d)

465,000

426,927

5.85%,

8/1/2034

713,000

716,474

Hyatt

Hotels

Corp.,

5.50%,

6/30/2034

2,303,000

2,307,398

Marriott

International,

Inc.,

4.88%,

5/15/2029

591,000

594,570

Marriott

International,

Inc.,

Series

HH,

2.85%,

4/15/2031(d)

2,400,000

2,103,625

McDonald's

Corp.,

3.50%,

7/1/2027(d)

750,000

727,851

6,876,845

Household

Durables

0.0%

†

NVR,

Inc.,

3.00%,

5/15/2030

300,000

272,562

Independent

Power

and

Renewable

Electricity

Producers

0.0%

†

Southern

Power

Co.,

4.15%,

12/1/2025

150,000

148,445

Industrial

REITs

0.2%

Prologis

LP,

4.63%,

1/15/2033(d)

1,375,000

1,347,466

Insurance

0.6%

Aflac,

Inc.,

3.60%,

4/1/2030(d)

167,000

157,599

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Insurance

Aon

Corp.,

2.80%,

5/15/2030

200,000

179,902

Assurant,

Inc.,

4.90%,

3/27/2028

255,000

252,979

Brown

&

Brown,

Inc.

4.50%,

3/15/2029

910,000

892,673

4.20%,

3/17/2032(d)

280,000

260,523

Marsh

&

McLennan

Cos.,

Inc.,

2.25%,

11/15/2030

1,275,000

1,113,641

Progressive

Corp.

(The)

2.50%,

3/15/2027

860,000

814,697

3.00%,

3/15/2032

230,000

204,949

Trinity

Acquisition

plc,

4.40%,

3/15/2026

250,000

247,145

Willis

North

America,

Inc.

4.50%,

9/15/2028

250,000

246,070

2.95%,

9/15/2029(d)

200,000

182,262

4,552,440

IT

Services

0.0%

†

International

Business

Machines

Corp.,

4.15%,

7/27/2027

160,000

158,194

Kyndryl

Holdings,

Inc.

2.05%,

10/15/2026

5,000

4,670

2.70%,

10/15/2028(d)

40,000

36,388

199,252

Life

Sciences

Tools

&

Services

0.0%

†

Agilent

Technologies,

Inc.,

2.75%,

9/15/2029(d)

250,000

227,956

Machinery

0.3%

AGCO

Corp.,

5.80%,

3/21/2034

572,000

582,626

IDEX

Corp.,

2.63%,

6/15/2031

1,160,000

1,003,139

Ingersoll

Rand,

Inc.,

5.70%,

8/14/2033

710,000

744,360

Westinghouse

Air

Brake

Technologies

Corp.,

3.20%,

6/15/2025

400,000

392,337

2,722,462

Media

0.7%

Charter

Communications

Operating

LLC,

3.75%,

2/15/2028(d)

3,200,000

3,028,015

Comcast

Corp.

5.30%,

6/1/2034

1,531,000

1,566,377

3.75%,

4/1/2040

750,000

623,104

Time

Warner

Cable

LLC,

5.88%,

11/15/2040

825,000

740,068

5,957,564

Metals

&

Mining

0.2%

Freeport-McMoRan,

Inc.,

4.13%,

3/1/2028(d)

115,000

111,269

Reliance,

Inc.,

2.15%,

8/15/2030(d)

620,000

532,013

10

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Metals

&

Mining

Steel

Dynamics,

Inc.,

3.45%,

4/15/2030

730,000

677,453

1,320,735

Multi-Utilities

0.1%

Ameren

Corp.,

3.50%,

1/15/2031

200,000

184,552

Berkshire

Hathaway

Energy

Co.,

3.25%,

4/15/2028

50,000

47,654

CenterPoint

Energy,

Inc.,

2.95%,

3/1/2030

100,000

90,375

Consumers

Energy

Co.,

3.80%,

11/15/2028

100,000

97,107

Dominion

Energy,

Inc.,

3.90%,

10/1/2025

100,000

98,672

Dominion

Energy,

Inc.,

Series

C,

3.38%,

4/1/2030

100,000

92,175

Sempra

3.25%,

6/15/2027

100,000

95,746

3.70%,

4/1/2029

200,000

190,660

Southern

Co.

Gas

Capital

Corp.,

Series

20-A,

1.75%,

1/15/2031(d)

100,000

82,713

WEC

Energy

Group,

Inc.,

5.15%,

10/1/2027(d)

180,000

182,278

1,161,932

Oil,

Gas

&

Consumable

Fuels

1.9%

Cheniere

Corpus

Christi

Holdings

LLC,

5.13%,

6/30/2027

945,000

949,688

Columbia

Pipelines

Operating

Co.

LLC,

6.04%,

11/15/2033(b)

975,000

1,019,691

Conoco

Funding

Co.,

7.25%,

10/15/2031

134,000

153,357

ConocoPhillips

Co.,

6.95%,

4/15/2029

381,000

418,994

Devon

Energy

Corp.

5.88%,

6/15/2028(d)

1,450,000

1,463,546

4.50%,

1/15/2030

389,000

381,575

EQT

Corp.

3.90%,

10/1/2027(d)

870,000

842,048

5.00%,

1/15/2029(d)

810,000

804,222

7.00%,

2/1/2030(c)

100,000

107,857

Kinder

Morgan,

Inc.,

1.75%,

11/15/2026

1,400,000

1,308,233

MPLX

LP

4.25%,

12/1/2027

1,000,000

980,592

4.80%,

2/15/2029

733,000

732,699

2.65%,

8/15/2030(d)

600,000

529,775

Northwest

Pipeline

LLC,

4.00%,

4/1/2027

275,000

269,765

Occidental

Petroleum

Corp.,

7.88%,

9/15/2031

502,000

573,977

ONEOK,

Inc.

2.20%,

9/15/2025(d)

1,000,000

969,661

4.00%,

7/13/2027

800,000

784,053

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Oil,

Gas

&

Consumable

Fuels

Ovintiv,

Inc.,

5.38%,

1/1/2026

40,000

40,046

Targa

Resources

Corp.,

4.20%,

2/1/2033(d)

220,000

202,365

Targa

Resources

Partners

LP,

5.00%,

1/15/2028

1,890,000

1,872,065

Western

Midstream

Operating

LP,

5.45%,

4/1/2044

975,000

891,491

Williams

Cos.,

Inc.

(The),

4.65%,

8/15/2032

1,000,000

972,993

16,268,693

Pharmaceuticals

0.5%

Bristol-Myers

Squibb

Co.

5.20%,

2/22/2034

1,119,000

1,146,013

6.25%,

11/15/2053

780,000

863,147

Royalty

Pharma

plc,

5.40%,

9/2/2034

1,243,000

1,241,995

Zoetis,

Inc.

3.00%,

9/12/2027(d)

450,000

427,237

3.90%,

8/20/2028(d)

465,000

452,118

4,130,510

Real

Estate

Management

&

Development

0.1%

CBRE

Services,

Inc.,

4.88%,

3/1/2026

800,000

798,240

Residential

REITs

0.2%

Camden

Property

Trust,

3.15%,

7/1/2029

100,000

92,961

ERP

Operating

LP,

2.85%,

11/1/2026(d)

100,000

96,095

Invitation

Homes

Operating

Partnership

LP,

2.00%,

8/15/2031

1,450,000

1,177,779

1,366,835

Retail

REITs

0.2%

Retail

Opportunity

Investments

Partnership

LP,

6.75%,

10/15/2028

1,324,000

1,392,681

Semiconductors

&

Semiconductor

Equipment

0.7%

Analog

Devices,

Inc.,

2.10%,

10/1/2031

105,000

88,920

Broadcom,

Inc.

1.95%,

2/15/2028(b)

625,000

569,110

2.60%,

2/15/2033(b)

1,475,000

1,221,353

3.50%,

2/15/2041(b)

2,650,000

2,086,711

Intel

Corp.

5.20%,

2/10/2033(d)

1,400,000

1,428,200

5.15%,

2/21/2034(d)

426,000

431,340

Xilinx,

Inc.,

2.38%,

6/1/2030

250,000

221,571

6,047,205

Software

0.8%

Fortinet,

Inc.,

1.00%,

3/15/2026(d)

650,000

610,369

Intuit,

Inc.,

1.65%,

7/15/2030(d)

54,000

46,017

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

11

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Software

Microsoft

Corp.,

3.40%,

9/15/2026(d)

410,000

402,046

Oracle

Corp.

2.30%,

3/25/2028

600,000

551,898

4.90%,

2/6/2033

1,244,000

1,234,911

6.90%,

11/9/2052(d)

2,975,000

3,413,378

ServiceNow,

Inc.,

1.40%,

9/1/2030

575,000

480,560

VMware

LLC,

4.70%,

5/15/2030(d)

35,000

34,646

6,773,825

Specialized

REITs

0.3%

American

Tower

Corp.

1.45%,

9/15/2026

210,000

195,516

2.75%,

1/15/2027

300,000

285,168

Crown

Castle,

Inc.,

2.90%,

3/15/2027

100,000

95,104

Extra

Space

Storage

LP

3.88%,

12/15/2027

300,000

290,667

3.90%,

4/1/2029

430,000

411,667

Public

Storage

Operating

Co.

3.09%,

9/15/2027

150,000

143,483

3.39%,

5/1/2029

550,000

522,581

2.30%,

5/1/2031

950,000

819,421

2,763,607

Specialty

Retail

0.3%

AutoNation,

Inc.,

4.75%,

6/1/2030(d)

1,250,000

1,222,284

Lowe's

Cos.,

Inc.

1.70%,

10/15/2030(d)

925,000

774,787

4.25%,

4/1/2052

975,000

784,619

2,781,690

Technology

Hardware,

Storage

&

Peripherals

0.3%

Dell

International

LLC,

8.10%,

7/15/2036

825,000

1,005,110

HP,

Inc.

3.00%,

6/17/2027(d)

35,000

33,371

4.00%,

4/15/2029

979,000

947,729

NetApp,

Inc.,

1.88%,

6/22/2025(d)

75,000

72,705

2,058,915

Tobacco

0.1%

Altria

Group,

Inc.,

4.80%,

2/14/2029

927,000

925,848

Water

Utilities

0.0%

†

American

Water

Capital

Corp.,

Class

C,

2.95%,

9/1/2027

100,000

95,152

Essential

Utilities,

Inc.,

2.70%,

4/15/2030

50,000

44,582

139,734

Wireless

Telecommunication

Services

0.8%

T-Mobile

USA,

Inc.

2.88%,

2/15/2031(d)

2,064,000

1,824,986

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Wireless

Telecommunication

Services

3.50%,

4/15/2031

5,421,000

4,960,851

6,785,837

219,121,541

Total

Corporate

Bonds

(cost

$261,608,020)

263,800,016

Municipal

Bonds

0.0%

FLORIDA

0.0%

†

State

Board

of

Administration

Finance

Corp.RB,

Series

A,2.15%,

7/1/2030

75,000

64,890

MASSACHUSETTS

0.0%

†

Commonwealth

of

MassachusettsGO,

Series

A,4.91%,

5/1/2029

100,000

101,371

Total

Municipal

Bonds

(cost

$188,828)

166,261

Mortgage-Backed

Securities

37.9%

FHLMC

UMBS

Pool

Pool#

QB2929

2.00%,

9/1/2050

156,549

127,259

Pool#

QB4050

2.00%,

10/1/2050

845,860

686,812

Pool#

QB3891

2.00%,

10/1/2050

114,636

93,224

Pool#

RA3986

2.50%,

11/1/2050

1,388,644

1,178,492

Pool#

SD1384

2.50%,

11/1/2050

319,064

272,573

Pool#

SD8129

2.50%,

2/1/2051

3,390,414

2,879,755

Pool#

SD7536

2.50%,

2/1/2051

1,375,405

1,174,205

Pool#

SD8145

1.50%,

5/1/2051

4,322,018

3,335,925

Pool#

SD7543

2.50%,

8/1/2051

8,640,210

7,367,882

Pool#

QD0652

2.00%,

11/1/2051

368,029

298,755

Pool#

SD7555

3.00%,

8/1/2052

3,485,638

3,089,322

Pool#

SD1501

4.00%,

8/1/2052

1,080,302

1,014,053

Pool#

RA7920

4.00%,

9/1/2052

1,466,654

1,376,183

Pool#

RA8213

6.00%,

11/1/2052

1,336,509

1,371,247

Pool#

SD2056

6.00%,

12/1/2052

859,676

882,021

Pool#

RA8419

6.00%,

1/1/2053

1,721,003

1,752,907

Pool#

RA8417

6.00%,

1/1/2053

893,214

916,530

12

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

UMBS

Pool

(continued)

Pool#

SD7563

4.50%,

5/1/2053

9,283,007

9,055,223

Pool#

SD4473

6.50%,

12/1/2053

949,185

985,606

FNMA

UMBS

Pool

Pool#

BM5108

3.00%,

2/1/2033

859,071

822,286

Pool#

MA4106

1.50%,

7/1/2035

738,866

649,827

Pool#

CA9152

2.50%,

2/1/2036

1,995,978

1,839,511

Pool#

BT2234

2.00%,

4/1/2037

4,130,554

3,707,918

Pool#

CB3758

2.00%,

5/1/2037

2,263,974

2,029,590

Pool#

MA4685

1.50%,

6/1/2037

2,619,087

2,288,345

Pool#

FS0146

3.50%,

9/1/2043

1,413,678

1,323,597

Pool#

BE3774

4.00%,

7/1/2047

828,526

795,758

Pool#

BM2007

4.00%,

9/1/2048

223,648

214,283

Pool#

CA2471

4.00%,

10/1/2048

826,083

791,147

Pool#

MA3692

3.50%,

7/1/2049

2,684,174

2,475,478

Pool#

FM2363

3.00%,

1/1/2050

735,560

655,743

Pool#

CA6032

2.50%,

6/1/2050

2,147,971

1,835,093

Pool#

CA6020

3.00%,

6/1/2050

1,790,264

1,584,773

Pool#

MA4158

2.00%,

10/1/2050

10,325,089

8,378,734

Pool#

CA7404

4.00%,

10/1/2050

3,552,737

3,357,490

Pool#

MA4182

2.00%,

11/1/2050

10,110,837

8,205,016

Pool#

FS4481

2.50%,

11/1/2050

2,803,889

2,391,139

Pool#

MA4210

2.50%,

12/1/2050

452,357

384,225

Pool#

FM5525

2.50%,

1/1/2051

3,699,267

3,135,121

Pool#

FS2772

2.50%,

2/1/2051

138,700

118,499

Pool#

FM6554

2.00%,

3/1/2051

1,130,607

923,281

Pool#

BR6352

2.50%,

3/1/2051

646,983

554,259

Pool#

FM6834

2.00%,

4/1/2051

523,530

427,526

Pool#

BR7647

2.00%,

4/1/2051

66,353

54,066

Pool#

MA4356

2.50%,

6/1/2051

3,948,896

3,350,412

Pool#

FM8057

3.00%,

7/1/2051

3,596,851

3,192,302

Pool#

MA4398

2.00%,

8/1/2051

6,559,193

5,287,646

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

(continued)

Pool#

MA4400

3.00%,

8/1/2051

3,425,690

3,010,826

Pool#

FM8779

2.50%,

9/1/2051

802,282

686,572

Pool#

MA4437

2.00%,

10/1/2051

970,224

783,942

Pool#

FM8997

2.50%,

10/1/2051

7,975,039

6,806,242

Pool#

CB1805

2.50%,

10/1/2051

3,178,382

2,716,769

Pool#

FM9450

2.00%,

11/1/2051

153,075

124,704

Pool#

CB2045

2.50%,

11/1/2051

1,878,201

1,606,780

Pool#

FM9492

2.50%,

11/1/2051

1,465,179

1,253,438

Pool#

FM9578

2.00%,

12/1/2051

28,796

23,459

Pool#

CB2809

2.50%,

2/1/2052

2,879,875

2,436,194

Pool#

CB3156

2.00%,

3/1/2052

1,691,514

1,369,341

Pool#

CB3368

3.00%,

4/1/2052

1,725,329

1,508,277

Pool#

CB3769

3.50%,

6/1/2052

1,235,749

1,125,824

Pool#

CB5087

5.50%,

11/1/2052

12,305,350

12,445,320

Pool#

FS3440

6.00%,

12/1/2052

1,704,571

1,748,876

Pool#

CB6821

5.50%,

8/1/2053

22,730,163

22,761,270

Pool#

CB7143

6.50%,

9/1/2053

1,827,331

1,882,055

Pool#

CB7603

6.00%,

12/1/2053

9,773,930

9,911,711

Pool#

FS8303

6.00%,

6/1/2054

977,234

997,537

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

TBA

3.00%,

8/25/2054

8,000,000

6,980,308

3.50%,

8/25/2054

10,000,000

9,072,418

6.50%,

8/25/2054

19,000,000

19,484,136

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

Conventional

Pool

TBA

6.00%,

9/25/2054

1,000,000

1,014,063

GNMA

II

Pool

Pool#

MA0317

3.00%,

8/20/2042

390,237

357,899

Pool#

AC0071

3.50%,

10/20/2042

576,487

527,961

Pool#

MA2600

3.00%,

2/20/2045

422,579

382,947

Pool#

MA2825

3.00%,

5/20/2045

306,749

279,097

Pool#

MA4509

3.00%,

6/20/2047

391,766

353,921

Pool#

MA4718

3.00%,

9/20/2047

366,488

331,125

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

13

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

GNMA

II

Pool

(continued)

Pool#

MA6409

3.00%,

1/20/2050

154,669

138,959

Pool#

785702

2.50%,

10/20/2051

856,929

727,968

Pool#

MA7705

2.50%,

11/20/2051

3,515,444

3,024,795

Pool#

785764

2.50%,

11/20/2051

1,066,262

909,064

Pool#

MA7707

3.50%,

11/20/2051

2,460,587

2,261,753

Pool#

MA7766

2.00%,

12/20/2051

14,077,894

11,669,736

Pool#

MA7767

2.50%,

12/20/2051

9,938,061

8,556,602

Pool#

785787

2.50%,

12/20/2051

852,783

724,446

Pool#

785788

2.50%,

12/20/2051

610,066

519,289

Pool#

MA8150

4.00%,

7/20/2052

452,703

427,455

Pool#

MA8197

2.50%,

8/20/2052

417,004

358,980

Pool#

MA8198

3.00%,

8/20/2052

2,101,618

1,875,188

Pool#

MA8201

4.50%,

8/20/2052

244,932

237,818

Pool#

MA8427

4.50%,

11/20/2052

16,731,436

16,224,763

Pool#

MA8643

3.00%,

2/20/2053

3,527,775

3,159,004

Pool#

MA8644

3.50%,

2/20/2053

4,445,394

4,102,248

Pool#

MA9668

5.50%,

5/20/2054

12,949,355

12,990,342

GNMA

TBA

5.00%,

8/15/2054

20,000,000

19,776,333

6.00%,

8/15/2054

14,000,000

14,164,093

6.50%,

8/15/2054

2,000,000

2,037,335

7.00%,

8/15/2054

2,000,000

2,041,710

Total

Mortgage-Backed

Securities

(cost

$328,133,082)

316,541,932

Foreign

Government

Securities

0.8%

CANADA

0.1%

Province

of

Alberta,

1.30%,

7/22/2030

60,000

50,802

Province

of

British

Columbia,

1.30%,

1/29/2031

25,000

20,865

Province

of

Ontario

0.63%,

1/21/2026

50,000

47,207

2.30%,

6/15/2026

45,000

43,264

1.05%,

5/21/2027

25,000

22,893

2.00%,

10/2/2029

25,000

22,473

1.13%,

10/7/2030

40,000

33,272

Province

of

Quebec

0.60%,

7/23/2025

50,000

47,994

2.50%,

4/20/2026

50,000

48,347

2.75%,

4/12/2027

25,000

24,040

361,157

Foreign

Government

Securities

Principal

Amount

($)

Value

($)

CHILE

0.1%

Republic

of

Chile,

3.25%,

9/21/2071

860,000

544,131

HUNGARY

0.2%

Hungary

Government

Bond

Reg.

S,

6.13%,

5/22/2028

940,000

964,666

3.13%,

9/21/2051

(b)

1,560,000

994,926

1,959,592

MEXICO

0.3%

United

Mexican

States

3.50%,

2/12/2034

1,470,000

1,219,473

3.75%,

4/19/2071

2,330,000

1,428,131

2,647,604

PANAMA

0.0%

†

Republic

of

Panama,

3.87%,

7/23/2060

500,000

294,478

POLAND

0.1%

Republic

of

Poland,

5.13%,

9/18/2034

780,000

782,543

Total

Foreign

Government

Securities

(cost

$6,487,420)

6,589,505

Supranational

0.2%

Asian

Development

Bank,

0.63%,

4/29/2025

1,000,000

968,616

European

Investment

Bank,

1.63%,

3/14/2025

1,000,000

979,392

Total

Supranational

(cost

$2,005,663)

1,948,008

U.S.

Treasury

Obligations

14.5%

U.S.

Treasury

Bonds

4.25%,

11/15/2040

7,250,000

7,248,584

4.75%,

2/15/2041

6,830,000

7,238,733

2.00%,

11/15/2041

40,000,000

28,442,188

3.38%,

8/15/2042

12,050,000

10,508,918

2.75%,

11/15/2042

6,500,000

5,141,601

4.00%,

11/15/2042

7,040,000

6,693,500

3.00%,

5/15/2045

11,000,000

8,835,234

2.50%,

5/15/2046

2,000,000

1,453,594

2.25%,

8/15/2046

8,000,000

5,517,500

3.00%,

2/15/2047

4,700

3,720

3.00%,

2/15/2048

11,820,000

9,284,241

2.38%,

11/15/2049

3,600,000

2,470,359

1.63%,

11/15/2050

7,000,000

3,964,297

2.25%,

2/15/2052

4,180,000

2,753,902

2.88%,

5/15/2052

2,500,000

1,893,359

3.00%,

8/15/2052

4,521,400

3,514,329

4.00%,

11/15/2052

11,242,800

10,576,137

4.75%,

11/15/2053

2,480,000

2,647,012

U.S.

Treasury

Inflation

Linked

Bonds

1.50%,

2/15/2053

2,900,000

2,662,285

2.13%,

2/15/2054

600,000

615,231

Total

U.S.

Treasury

Obligations

(cost

$141,125,526)

121,464,724

14

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Short-Term

Investment

2.0%

Principal

Amount

($)

Value

($)

U.S.

Treasury

Obligation

2.0%

U.S.

Treasury

Bills,0.00%

11/26/2024(g)

16,700,000

16,423,559

Total

Short-Term

Investment

(cost

$16,423,143)

16,423,559

Repurchase

Agreements

1.6%

CF

Secured,

LLC

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$4,918,452,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$5,016,823.

(h)

4,917,723

4,917,723

HSBC

Securities,

Inc.

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,739,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$5,100,754.

(h)

5,000,000

5,000,000

Santander

US

Capital

Markets

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,000,297,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$2,040,303.

(h)

2,000,000

2,000,000

Societe

Generale

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,000,297,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$2,040,001.

(h)

2,000,000

2,000,000

Total

Repurchase

Agreements

(cost

$13,917,723)

13,917,723

Purchased

Swaptions

0.0%

Principal

Amount

($)

Value

($)

Options

purchased

on

interest

rate

swaps

0.0%

2-Year

Interest

Rate

Swap

Receive

3

Months

EURIBOR

Pay

2.375%,

07/08/25

17,010,000

60,143

2-Year

Interest

Rate

Swap

Receive

3

Months

EURIBOR

Pay

2.375%,

11/28/25

16,800,000

64,108

2-Year

Interest

Rate

Swap

Receive

3

Months

EURIBOR

Pay

2.5%,

05/29/25

16,570,000

46,596

170,847

Total

Purchased

Swaptions

(cost  $89,093)

170,847

Total

Investments

Before

TBA

Sale

Commitments

(cost

$929,084,626)

—

107.7%

900,181,881

TBA

Sale

Commitments

  (9.0)%

Mortgage-Backed

Security

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

TBA

2.00%,

8/25/2054

(4,000,000)

(3,217,343)

2.50%,

8/25/2054

(5,000,000)

(4,192,253)

4.00%,

8/25/2054

(1,000,000)

(937,085)

4.50%,

8/25/2054

(1,000,000)

(963,220)

5.50%,

8/25/2054

(35,000,000)

(35,053,595)

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

Conventional

Pool

TBA

6.00%,

8/25/2054

(14,000,000)

(14,198,528)

GNMA

TBA

2.00%,

8/15/2054

(1,000,000)

(828,711)

2.50%,

8/15/2054

(2,000,000)

(1,720,964)

3.00%,

8/15/2054

(2,000,000)

(1,784,764)

3.50%,

8/15/2054

(1,000,000)

(919,273)

4.50%,

8/15/2054

(2,000,000)

(1,937,611)

5.50%,

8/15/2054

(9,000,000)

(9,027,180)

Total

TBA

Sale

Commitment

(cost

$(74,348,555))

(74,780,527)

Total

Investments

(cost

$854,736,071)

—

98.7%

825,401,354

Other

assets

in

excess

of

liabilities

—

1.3%

10,512,295

NET

ASSETS

—

100.0%

$

835,913,649

†

Amount

rounds

to

less

than

0.1%.

(a)

Variable

or

floating

rate

security,

the

interest

rate

of

which

adjusts

periodically

based

on

changes

in

current

interest

rates

and

prepayments

on

the

underlying

pool

of

assets.  The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(b)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$138,059,086

which

represents

16.52%

of

net

assets.

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

15

(c)

Step

Bond.

Coupon

rate

is

set

for

an

initial

period

and

then

increases

to

a

higher

coupon

rate

at

a

specific

date.

The

rate

shown

is

the

rate

as

of

July

31,

2024.

(d)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$14,733,835,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$13,917,723

and

by

$1,501,972

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.50%,

and

maturity

dates

ranging

from

11/15/2024

–

5/15/2054,

a

total

value

of

$15,419,695.

(e)

Variable

or

floating

rate

security,

linked

to

the

referenced

benchmark.

The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(f)

Perpetual

Bond

Security.

The

rate

reflected

in

the

Statement

of

Investments

is

the

rate

in

effect

on

July

31,

2024.

The

maturity

date

reflects

the

next

call

date.

(g)

Zero

Coupon

Security.

Debt

security

that

pays

no

cash

income

but

is

sold

at

substantial

discount

from

its

value

at

maturity.

(h)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$13,917,723.

ACES

Alternative

Credit

Enhancement

Services

CLO

Collateralized

Loan

Obligations

EURIBOR

Euro

Interbank

Offered

Rate

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

GNMA

Government

National

Mortgage

Association

ICE

Intercontinental

Exchange

LIBOR

London

Interbank

Offered

Rate

RB

Revenue

Bond

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

REIT

Real

Estate

Investment

Trust

REMICS

Real

Estate

Mortgage

Investment

Conduits

SOFR

Secured

Overnight

Financing

Rate

TBA

To

Be

Announced;

Security

is

subject

to

delayed

delivery

UMBS

Uniform

Mortgage-Backed

Securities

Currency:

EUR

Euro

USD

United

States

Dollar

Centrally

Cleared

Credit

default

swap

contracts

outstanding

-

sell

protection

as

of

July

31,

2024

1

:

Reference

Obligation/Index

Financing

Rate

Received

by

the

Fund

(%)

Payment

Frequency

Maturity

Date

Implied

Credit

Spread

(%)

2

Notional

Amount

3

Upfront

Payments

(Receipts)

($)

4

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Markit

CDX

North

American

Investment

Grade

Index

Series

42-V1

1.00

Quarterly

6/20/2029

0.52

USD

21,907,588

459,567

32,248

491,815

Total

unrealized

appreciation

459,567

32,248

491,815

1

The

Fund,

as

a

seller

of

credit

protection,

receives

periodic

payments

and

any

upfront

premium

from

the

protection

buyer,

and

the

Fund

is

obligated

to

make

a

contingent

payment,

upon

occurrence

of

a

credit

event

with

respect

to

an

underlying

reference

obligation,

as

defined

under

the

terms

of

each

individual

swap

contract.

2

Implied

credit

spreads

are

an

indication

of

the

seller’s

performance

risk,

related

to

the

likelihood

of

a

credit

event

occurring

that

would

require

a

seller

to

make

a

payment

to

a

buyer.

Implied

credit

spreads

are

used

to

determine

the

value

of

swap

contracts

and

reflect

the

cost

of

buying/selling

protection,

which

may

include

upfront

payments

made

to

enter

into

the

contract.

Therefore,

higher

spreads

would

indicate

a

greater

likelihood

that

a

seller

will

be

obligated

to

perform

(i.e.,

make

payment)

under

the

swap

contract.

Increasing

values,

in

absolute

terms

and

relative

notional

amounts,

are

also

indicative

of

greater

performance

risk.

Implied

credit

spreads

for

credit

default

swaps

on

credit

indices

are

linked

to

the

weighted

average

spread

across

the

underlying

reference

obligations

included

in

a

particular

index.

3

The

notional

amount

is

the

maximum

amount

that

a

seller

of

credit

protection

would

be

obligated

to

pay

and

a

buyer

of

credit

protection

would

receive,

upon

occurrence

of

a

credit

event.

4

Upfront

premiums

generally

related

to

payments

received

or

paid

at

the

initiation

of

the

swap

agreement

to

compensate

for

differences

between

the

stated

terms

of

the

swap

agreement

and

current

market

conditions

(credit

spreads,

interest

rates

and

other

relevant

factors).

16

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Centrally

Cleared

Interest

rate

swap

contracts

outstanding

as

of

July

31,

2024

:

Floating

Rate

Index

Fixed

Rate

Pay/

Receive

Floating

Rate

Maturity

Date

Notional

Amount

Upfront

Payment

(Receipts)

($)

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

6

Month

EURIBOR

semi-annually

2.71%

annually

Pay

4/24/2030

EUR

14,480,000

15,155

192,782

207,937

6

Month

BBR

semi-annually

4.50%

semi-annually

Pay

9/18/2034

AUD

400,000

(198)

6,413

6,215

3

Month

BBR

quarterly

4.75%

semi-annually

Pay

9/18/2034

NZD

160,000

1,052

4,432

5,484

6

Month

NIBOR

semi-annually

4.25%

annually

Pay

9/18/2026

NOK

392,450,000

25,346

77,023

102,369

3

Month

STIBOR

quarterly

2.75%

annually

Pay

9/18/2034

SEK

15,440,000

22,259

27,582

49,841

6

Month

EURIBOR

semi-annually

3.00%

annually

Pay

1/25/2039

EUR

7,820,000

19,619

50,653

70,272

6

Month

EURIBOR

semi-annually

2.50%

annually

Rec

11/10/2053

EUR

3,760,000

(164,222)

8,720

(155,502)

6

Month

EURIBOR

semi-annually

3.00%

annually

Pay

11/10/2033

EUR

6,930,000

73,620

67,589

141,209

3

Month

BBR

quarterly

4.50%

semi-annually

Pay

9/18/2029

NZD

18,690,000

73,675

255,469

329,144

6

Month

EURIBOR

semi-annually

2.00%

annually

Pay

1/25/2049

EUR

11,140,000

(11,958)

26,543

14,585

6

Month

EURIBOR

semi-annually

2.50%

annually

Pay

9/18/2034

EUR

9,080,000

(193,917)

135,092

(58,825)

6

Month

EURIBOR

semi-annually

2.50%

annually

Pay

5/14/2028

EUR

15,930,000

(27,540)

77,191

49,651

1

Day

SONIA

annually

3.75%

annually

Pay

9/18/2027

GBP

7,010,000

(72,499)

28,962

(43,537)

1

Day

SOFR

annually

3.50%

annually

Pay

9/18/2029

USD

10,080,000

(186,685)

111,610

(75,075)

1

Day

SOFR

annually

4.02%

annually

Pay

4/16/2030

USD

16,860,000

(72,875)

463,475

390,600

1

Day

SOFR

annually

3.80%

annually

Pay

4/13/2028

USD

10,450,000

2,540

75,472

78,012

1

Day

ESTR

annually

2.37%

annually

Pay

1/19/2034

EUR

13,200,000

(11,975)

53,746

41,771

1

Day

REPO_CORRA

semi-annually

3.25%

semi-annually

Pay

9/18/2034

CAD

3,410,000

(27,205)

55,667

28,462

1

Day

REPO_CORRA

semi-annually

3.75%

semi-annually

Pay

9/26/2026

CAD

2,500,000

9,976

4,359

14,335

1

Day

SOFR

annually

3.79%

annually

Pay

5/21/2034

USD

8,540,000

(1,019)

57,279

56,260

1

Day

TONAR

annually

0.50%

annually

Rec

9/18/2029

JPY

8,941,400,000

590,780

70,408

661,188

1

Day1

day

SONIA

annually

3.50%

annually

Pay

9/18/2034

GBP

160,000

(6,854)

4,109

(2,745)

1

Day

SONIA

annually

4.00%

annually

Pay

9/18/2026

GBP

22,190,000

(179,985)

100,513

(79,472)

6

Month

EURIBOR

semi-annually

2.15%

annually

Pay

8/9/2037

EUR

6,880,000

(267,599)

98,494

(169,105)

6

Month

EURIBOR

semi-annually

1.05%

annually

Pay

8/11/2047

EUR

10,210,000

(351,493)

14,861

(336,632)

1

Day

SOFR

annually

3.39%

annually

Pay

5/10/2038

USD

4,050,000

(70,820)

12,768

(58,052)

6

Month

EURIBOR

semi-annually

2.00%

annually

Rec

5/17/2053

EUR

4,620,000

31,043

14,237

45,280

1

Day

SOFR

annually

2.56%

annually

Rec

5/11/2053

USD

3,920,000

(11,443)

110,385

98,942

1

Day

SOFR

annually

2.08%

annually

Rec

7/28/2047

USD

20,680,000

319,843

323,908

643,751

1

Day

SOFR

annually

2.68%

annually

Rec

7/28/2032

USD

8,620,000

113,095

173,336

286,431

Total

unrealized

appreciation

(360,284)

2,703,078

2,342,794

6

Month

EURIBOR

semi-annually

2.74%

annually

Rec

4/24/2035

EUR

7,730,000

(19,594)

(135,808)

(155,402)

6

Month

EURIBOR

semi-annually

2.50%

annually

Rec

9/18/2054

EUR

3,580,000

(5,138)

(102,463)

(107,601)

6

Month

EURIBOR

semi-annually

2.50%

annually

Rec

1/25/2044

EUR

18,690,000

(289)

(46,044)

(46,333)

6

Month

NIBOR

semi-annually

3.75%

annually

Rec

9/18/2034

NOK

19,370,000

(10,995)

(12,809)

(23,804)

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

17

Floating

Rate

Index

Fixed

Rate

Pay/

Receive

Floating

Rate

Maturity

Date

Notional

Amount

Upfront

Payment

(Receipts)

($)

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

3

Month

BBR

quarterly

4.00%

quarterly

Rec

9/26/2026

AUD

6,080,000

7,520

(16,430)

(8,910)

6

Month

EURIBOR

semi-annually

2.54%

annually

Rec

1/19/2034

EUR

13,200,000

12,538

(64,551)

(52,013)

6

Month

EURIBOR

semi-annually

2.98%

At

Termination

Rec

4/24/2026

EUR

8,760,000

(4,603)

(33,628)

(38,231)

1

Day

SARON

annually

1.25%

annually

Rec

9/18/2034

CHF

1,350,000

(32,773)

(32,179)

(64,952)

1

Day

SOFR

annually

3.99%

annually

Rec

4/16/2035

USD

9,310,000

51,588

(363,460)

(311,872)

1

Day

SOFR

annually

4.43%

annually

Rec

4/16/2026

USD

9,720,000

3,764

(58,560)

(54,796)

1

Day

SARON

annually

1.25%

annually

Rec

9/18/2026

CHF

54,150,000

(430,092)

(203,694)

(633,786)

1

Day

SOFR

annually

3.38%

annually

Rec

4/11/2054

USD

3,820,000

(10,325)

(2,046)

(12,371)

1

Day

SOFR

annually

3.75%

annually

Rec

9/18/2034

USD

1,650,000

13,672

(26,847)

(13,175)

1

Day

ESTR

annually

2.25%

annually

Rec

9/18/2026

EUR

9,440,000

102,791

(41,521)

61,270

1

Day

SOFR

annually

4.30%

annually

Rec

11/30/2028

USD

58,570,000

(15,487)

(1,299,510)

(1,314,997)

1

Day

SONIA

annually

3.75%

annually

Rec

9/18/2029

GBP

480,000

3,684

(5,035)

(1,351)

1

Day

SOFR

annually

3.34%

annually

Rec

5/20/2054

USD

5,750,000

5,447

(13,036)

(7,589)

1

Day

SOFR

annually

4.25%

annually

Rec

9/26/2026

USD

1,450,000

1,663

(7,661)

(5,998)

6

Month

EURIBOR

semi-annually

1.45%

annually

Rec

8/10/2042

EUR

17,440,000

745,620

(32,277)

713,343

1

Day

SOFR

annually

2.91%

annually

Pay

7/28/2037

USD

20,880,000

(319,918)

(305,673)

(625,591)

Total

unrealized

depreciation

99,073

(2,803,232)

(2,704,159)

Net

unrealized

depreciation

(261,211)

(100,154)

(361,365)

–

–

–

As

of

July

31,

2024,

the

Fund

had

$2,695,528

segregated

as

collateral

for

swap

contracts.

Abbreviation

:

BBR

Bank

Bill

Reference

Rate

EURIBOR

Euro

Interbank

Offered

Rate

ESTR

Euro

Short-Term

Rate

NIBOR

Norwegian

Interbank

Offered

Rate

CORRA

Canadian

Overnight

Repo

Rate

Average

SARON

Swiss

Average

Rate

Overnight

SOFR

Secured

Overnight

Financing Rate

SONIA

Sterling

Overnight

Index

Average

STIBOR

Stockholm

Interbank

Offered

Rate

TONAR

Tokyo

Overnight

Average

Rate

Currency:

AUD

Australian

dollar

CAD

Canadian

dollar

CHF

Swiss

franc

EUR

Euro

GBP

British

pound

JPY

Japanese

yen

NOK

Norwegian

krone

NZD

New

Zealand

dollar

SEK

Swedish

krona

USD

United

States

dollar

Forward

Foreign

Currency

Contracts

outstanding

as

of

July

31,

2024:

Currenc

y

Purchased

Currency

Sold

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

($)

GBP

771,145

USD

975,599

Deutsche

Bank

Securities,

Inc.

9/27/2024

16,237

Total

unrealized

appreciation

16,237

Net

unrealized

appreciation

16,237

Currency:

GBP

British

pound

USD

United

States

dollar

18

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

Euro-Bund

2

9/2024

EUR

289,459

7,378

U.S.

Treasury

2

Year

Note

558

9/2024

USD

114,594,891

734,718

U.S.

Treasury

5

Year

Note

1,051

9/2024

USD

113,393,047

1,746,038

U.S.

Treasury

10

Year

Note

359

9/2024

USD

40,140,688

911,283

U.S.

Treasury

10

Year

Ultra

Note

36

9/2024

USD

4,160,812

118,319

Total

long

contracts

3,517,736

Short

Contracts

Euro-Buxl

(1)

9/2024

EUR

(145,822)

(6,977)

U.S.

Treasury

Long

Bond

(218)

9/2024

USD

(26,330,313)

(207,657)

U.S.

Treasury

Ultra

Bond

(33)

9/2024

USD

(4,222,969)

(9,342)

Total

short

contracts

(223,976)

Net

contracts

3,293,760

As

of

July

31,

2024,

the

Fund

had

$2,337,844

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

EUR

Euro

USD

United

States

Dollar

Written

Swaptions

Contracts

as

of

July

31,

2024

:

Description

Rate

Paid

by

the

Fund

Rate

Received

by

the

Fund

Counterparty

Expiration

Date

Exercise

Rate

Notional

Amount

Value($)

Call

11-Year

Interest

Rate

Swap

6

Month

EURIBOR

annually

2.33%

semi-annually

Bank

of

America

NA

05/29/2025

2.33

%

EUR

1,850,000

$

(35,174)

11-Year

Interest

Rate

Swap

6

Month

EURIBOR

annually

2.35%

semi-annually

Bank

of

America

NA

07/08/2025

2.35

EUR

1,910,000

(40,882)

11-Year

Interest

Rate

Swap

6

Month

EURIBOR

annually

2.40%

semi-annually

Bank

of

America

NA

11/28/2025

2.40

EUR

1,870,000

(53,477)

Total

Written

Swaptions

Contracts

(Premiums

Received

(92,469))

(129,533)

Abbreviation:

EURIBOR

Euro

Interbank

Offered

Rate

Currency:

EUR

Euro

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

19

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

20

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

options,

swap

contracts, forward

foreign

currency

contracts, and financial

futures

contracts.

(a)

Swap

Contracts             

Credit

Default

Swap

Contracts

— The

Fund entered

into

credit

default

swap

contracts.

Credit

default

swap

contracts

are

either

privately

negotiated

agreements

between

the

Fund

and

a

counterparty

or

traded

through

a

futures

commission

merchant

and

cleared

through

a

clearinghouse

that

serves

as

a

central

counterparty. 

Investments

in

credit

default

swap

contracts

are

utilized

to

expose

the

Fund’s

cash

holdings

to

the

investment

characteristics

and

performance

of

the

high-yield

bond

market

or

selected

credit

markets while

maintaining

liquidity

to

satisfy

shareholder

activity,

to

manage

broad

credit

market

spread

exposure

and/or

to

create

synthetic

long

and

short

exposure

to

select

credit

and sovereign

debt

securities,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

The

Fund

segregates

liquid

assets

to

cover

its

obligations

under

its

credit

default

swap

contracts.

The

upfront

premiums

are

amortized

and

accreted

daily

and

are

recorded

as

realized

gains

or

losses

upon

maturity

or

termination

of

the

credit

default

swap

contract.

As

the

protection

purchaser

in

a

credit

default

swap

contract,

the

Fund

pays

the

counterparty

a

periodic

stream

of

payments

over

the

term

of

the

contract,

provided

that

no

credit

event

or

default

(or

similar

event)

occurs.

However,

the

Fund

is

required

to

receive

the

par

(or

other

agreed-upon)

value

of

a

referenced

debt

obligation

from

the

counterparty

in

the

event

of

a

default

(or

similar

event)

by

a

third

party,

such

as

a

U.S.

or

foreign

issuer,

on

the

debt

obligation.

If

a

credit

event

or

default

(or

similar

event)

occurs,

the

Fund

either

(i)

receives

from

the

counterparty

an

amount

equal

to

the

notional

amount

of

the

swap

and

the

counterparty

takes

delivery

of

the

referenced

obligation,

other

deliverable

obligations

or

underlying

securities

comprising

the

referenced

index,

or

(ii)

receives

from

the

counterparty

a

net

settlement

amount

in

the

form

of

cash

or

securities

to

the

notional

amount

of

the

swap

and

the

recovery

value

of

the

referenced

obligation

or

underlying

securities

comprising

the

referenced

index.

As

the

purchaser

in

a

credit

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Asset-Backed

Securities

$

–

$

89,990,146

$

–

$

89,990,146

Collateralized

Mortgage

Obligations

–

31,490,107

–

31,490,107

Commercial

Mortgage-Backed

Securities

–

37,679,053

–

37,679,053

Corporate

Bonds

–

263,800,016

–

263,800,016

Credit

Default

Swaps†

–

32,248

–

32,248

Foreign

Government

Securities

–

6,589,505

–

6,589,505

Forward

Foreign

Currency

Contracts

–

16,237

–

16,237

Futures

Contracts

3,517,736

–

–

3,517,736

Interest

Rate

Swaps†

–

2,703,078

–

2,703,078

Mortgage-Backed

Securities

–

316,541,932

–

316,541,932

Municipal

Bonds

–

166,261

–

166,261

Purchased

Swaptions

–

170,847

–

170,847

Repurchase

Agreements

–

13,917,723

–

13,917,723

Short-Term

Investment

–

16,423,559

–

16,423,559

Supranational

–

1,948,008

–

1,948,008

U.S.

Treasury

Obligations

–

121,464,724

–

121,464,724

Total

Assets

$

3,517,736

$

902,933,444

$

–

$

906,451,180

Liabilities:

Futures

Contracts

$

(223,976)

$

–

$

–

$

(223,976)

Interest

Rate

Swaps†

–

(2,803,232)

–

(2,803,232)

TBA

Sale

Commitments

–

(74,780,527)

–

(74,780,527)

Written

Swaptions

–

(129,533)

–

(129,533)

Total

Liabilities

$

(223,976)

$

(77,713,292)

$

–

$

(77,937,268)

Total

$

3,293,760

$

825,220,152

$

–

$

828,513,912

†

Swap

contracts

are

included

in

the

table

at

value,

with

the

exception

of

centrally

cleared

swap

contracts

which

are

included

in

the

table

at

unrealized

appreciation/(depreciation).

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

21

default

swap

contract,

the

Fund’s

investment

would

generate

income

only

in

the

event

of

an

actual

default

(or

similar

event)

by

the

issuer

of

the

underlying

obligation. 

Credit

default

swap

contracts

are

marked-to-market

daily

based

on

valuations

from

independent

pricing

services.

Credit

default

swap

contracts

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

Implied

credit

spreads

are

utilized

in

determining

the

market

value

of

credit

default

swap

agreements

on

credit

indices

and

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

or

risk

of

default

for

the

credit

derivative.

Implied

credit

spreads

utilized

in

valuing

the

Fund’s

investments

as

of

July

31,

2024

are

disclosed

in

the

Statement

of

Investments.

The

implied

credit

spread

of

a

particular

referenced

entity

reflects

the

cost

of

selling

protection

on

such

entity’s

debt,

and

may

include

upfront

payments

required

to

be

made

to

enter

into

the

agreement.

For

credit

default

swap

agreements

on

credit

indices,

the

quoted

market

prices

and

resulting

value

serve

as

the

indicator

of

the

current

status

of

the

payment/performance

risk.

Wider

credit

spreads

represent

a

deterioration

of

the

referenced

entity’s

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

Certain

clearinghouses

currently

offer

clearing

for

limited

types

of

derivatives

transactions,

such

as

credit

derivatives.

In

a

centrally

cleared

credit

default

swap

contract,

immediately

following

execution

of

the

swap

agreement,

the

swap

agreement

is

novated

to

a

central

counterparty

(the

“CCP”)

and

the

Fund’s

counterparty

on

the

swap

agreement

becomes

the

CCP.

The

Fund

is

required

to

interface

with

the

CCP

through

a

broker.

Upon

entering

into

a

centrally

cleared

swap

contract,

the

Fund

is

required

to

deposit

initial

margin

with

the

broker

in

the

form

of

cash

or

securities

in

an

amount

that

varies

depending

on

the

size

and

risk

profile

of

the

particular

swap.

Securities

deposited

as

initial

margin

and

cash

pledged

as

collateral

are

designated

on

the

Statement

of

Investments,

as

applicable.

The

daily

change

in

valuation

of

centrally

cleared

credit

default

swap

contracts

is

recorded

as

a

receivable

or

payable

for

variation

margin

on

centrally

cleared

credit

default

swap

contracts.

Payments

received

from

(paid

to)

the

counterparty,

including

at

termination,

are

recorded

as

realized

gains

(losses).

Interest

Rate

Swap

Contracts

—

The

Fund

entered

into

interest

rate

swap

contracts

to

hedge

against

investment

risks,

to

manage

portfolio

duration,

to

obtain

exposure

to

the

investment

characteristics

of

certain

bonds

or

groups

of

bonds,

and/or

to

otherwise

increase

returns,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Interest

rate

swap

contracts

are

swaps

contracts

in

which

the

parties

exchange

their

rights

to

receive

payments

on

a

security

or

other

reference

rate.

For

example,

the

parties

might

swap

the

right

to

receive

floating

rate

payments

for

the

right

to

receive

fixed

rate

payments.

The

Fund

has

segregated

liquid

assets

to

cover

its

obligations

under

the

interest

rate

swap

contract.

Interest

rate

swap

contracts

are

valued

daily

and

unrealized

appreciation

(depreciation)

is

recorded.

Certain

interest

rate

swap

contracts

may

accrue

periodic

interest

on

a

daily

basis

as

a

component

of

unrealized

appreciation

(depreciation);

the

Fund

will

realize

a

gain

or

loss

upon

the

payment

or

receipt

of

accrued

interest.

The

Fund

will

realize

a

gain

or

a

loss

when

the

interest

rate

swap

is

terminated.

The

use

of

interest

rate

swap

contracts

involves

the

risk

that

the

investment

adviser

will

not

accurately

predict

anticipated

changes

in

interest

rates,

which

may

result

in

losses

to

the

Fund.

Interest

rate

swap

contracts

also

involve

the

possible

failure

of

a

counterparty

to

perform

in

accordance

with

the

terms

of

the

swap

agreement.

If

a

counterparty

defaults

on

its

obligations

under

a

swap

agreement,

the

Fund

may

lose

any

amount

it

expected

to

receive

from

the

counterparty,

potentially

including

amounts

in

excess

of

the

Fund’s

initial

investment.

Interest

rate

swap

contracts

are

marked-to-market

daily

based

on

valuations

from

an

independent

pricing

service.

Interest

rate

swap

contracts

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

(b)

Forward

Foreign

Currency

Contracts          

The

Fund

entered

into

forward

foreign

currency

contracts

in

connection

with

planned

purchases

or

sales

of

securities

denominated

in

a

foreign

currency

and/or

to

hedge

the

U.S.

dollar

value

of

portfolio

securities

denominated

in

a

foreign

currency,

to

express

a

view

on

a

foreign

currency

vs.

the

U.S.

dollar

or

other

foreign

currency,

to

hedge

the

U.S.

dollar

value

of

portfolio

securities

denominated

in

a

foreign

currency,

and/or

to

seek

to

protect

against

anticipated

changes

in

future

foreign

currency

exchange

rate,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

A

forward

foreign

currency

contract

involves

an

obligation

to

purchase

or

sell

a

specific

currency

at

a

future

date,

which

may

be

any

fixed

number

of

days

from

the

date

of

the

contract

agreed

upon

by

the

parties,

at

a

price

set

at

the

time

of

the

contract.

Forward

foreign

currency

contracts

are

generally

valued

at

the

mean

of

the

last

quoted

bid

and

ask

prices,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

The

market

value

of

a

forward

foreign

currency

contract

fluctuates

with

changes

in

foreign

currency

exchange

rates.

All

commitments

are

marked-to-market

daily

at

the

applicable

exchange

rates

and

any

resulting

unrealized

appreciation

or

depreciation

is

recorded.

Realized

gains

or

losses

are

recorded

at

the

time

the

forward

foreign

currency

contract

matures

or

at

the

time

of

delivery

of

the

currency.

Forward

foreign

currency

contracts

entail

the

risk

of

unanticipated

movements

in

the

value

of

the

foreign

currency

relative

to

the

U.S.

dollar,

and

the

risk

that

the

counterparties

to

the

contracts

may

be

unable

to

meet

their

obligations

under

the

contract.

22

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

(c)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

(d)

Options      

The

Fund

purchased

and/or

wrote

options

on

futures

contracts,

single

stocks,

ETFs,

and/or

indexes.

Such

option

investments

are

utilized

to

manage

currency

exposures

and/or

hedge

against

movements

in

the

values

of

the

foreign

currencies

in

which

the

portfolio

securities

are

denominated,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates

and

equity

movements,

to

capitalize

on

the

return-generating

features

of

selling

options

(short

volatility)

while

simultaneously

benefiting

from

the

risk-control

attributes

associated

with

buying

options

(long

volatility),

and/or

to

generate

consistent

outperformance,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

The

purchase

of

put

options

serves

as

a

short

hedge

and

the

purchase

of

call

options

serves

as

a

long

hedge.

Writing

put

options

serves

as

a

limited

long

hedge

because

increases

in

the

value

of

the

hedged

investment

would

be

offset

to

the

extent

of

the

premium

received

for

writing

the

option.

However,

if

the

security

depreciates

to

a

price

lower

than

the

strike

price

of

the

put

option,

it

can

be

expected

that

the

put

option

will

be

exercised,

and

the

Fund

will

be

obligated

to

purchase

the

security

at

more

than

its

market

value.

The

Fund

segregates

liquid

assets

to

cover

its

obligations

under

its

option

contracts.

Writing

call

options

serves

as

a

limited

short

hedge

because

declines

in

the

value

of

the

hedged

investment

would

be

offset

to

the

extent

of

the

premium

received

for

writing

the

option.

However,

if

the

security

appreciates

to

a

price

higher

than

the

exercise

price

of

the

call

option,

it

can

be

expected

that

the

call

option

will

be

exercised,

and

a

Fund

will

be

obligated

to

sell

the

security

at

less

than

its

market

value

or

will

be

obligated

to

purchase

the

security

at

a

price

greater

than

that

at

which

the

security

must

be

sold

under

the

option.

When the

Fund

writes

an

option,

an

amount

equal

to

the

premium

received

is

recorded

as

a

liability

and

subsequently

marked-

to-market

to

reflect

the

current

value

of

the

option

written.

Premiums

received

from

writing

options

which

expire

unexercised

are

treated

as

realized

gains.

Premiums

received

from

writing

options

which

are

exercised

or

closed

are

added

to

the

proceeds

from

or

offset

against

amounts

paid

on

the

underlying

transaction

to

determine

the

realized

gain

or

loss

on

such

underlying

transaction.

When the

Fund

writes

an

option,

it

has

no

control

over

whether

the

option

will

be

exercised,

and

as

a

result

bears

the

risk

of

an

unfavorable

change

in

the

price

of

the

instrument

underlying

the

written

option.

Writing

options

entails

the

risk

that the

Fund

may

not

be

able

to

enter

into

a

closing

transaction

because

of

an

illiquid

market.

Options

traded

on

an

exchange

are

valued

at

the

settlement

price

provided

by

an

independent

pricing

service

as

approved

by

the

Board.

If

a

settlement

price

is

not

available,

such

options

are

valued

at

the

last

quoted

sale

price,

if

available,

and

otherwise

at

the

average

bid/ask

price.

Exchange

traded

options

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

Options

traded

in

the

over-the-counter

(“OTC”)

market,

and

which

are

not

quoted

by

NASDAQ,

are

valued

at

the

last

quoted

bid

price,

and

Nationwide

Bond

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

23

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

The

value

of

an

option

position

reflects,

among

other

things,

the

implied

price

volatility

of

the

underlying

investment,

the

current

market

value

of

the

underlying

investment,

the

time

remaining

until

expiration

of

the

option,

the

relationship

of

the

strike

price

to

the

market

price

of

the

underlying

investment,

and

general

market

conditions.

Options

that

expire

unexercised

have

no

value.

American-style

options

can

be

exercised

at

any

time

prior

to

the

expiration

date

of

the

option.

European-style

options

can

only

be

exercised

at

expiration

of

the

option.

The Fund

effectively

terminates

its

right

or

obligation

under

an

option

by

entering

into

a

closing

transaction.

Closing

transactions

permit the

Fund

to

realize

the

profit

or

limit

the

loss

on

an

option

position

prior

to

its

exercise

or

expiration.

If the

Fund

is

unable

to

affect

a

closing

transaction

for

an

option

it

purchased,

it

would

have

to

exercise

the

option

to

realize

any

profit.

The

inability

to

enter

into

a

closing

purchase

transaction

for

a

covered

call

option

written

by the

Fund

could

cause

material

losses

because the

Fund

would

be

unable

to

sell

the

investment

used

as

a

cover

for

the

written

option

until

the

option

expires

or

is

exercised.

The

writing

and

purchasing

of

options

is

a

highly

specialized

activity

that

involves

investment

techniques

and

risks

different

from

those

associated

with

ordinary

portfolio

securities

transactions.

Imperfect

correlation

between

options

and

the

securities

markets

may

detract

from

the

effectiveness

of

attempted

hedging.

Transactions

using

OTC

options

(other

than

options

purchased

by the

Fund)

expose the

Fund

to

counterparty

risk.

To

the

extent

required

by

Securities

and

Exchange

Commission

(“SEC”)

guidelines, the

Fund

will

not

enter

into

any

options

transactions

unless

it

owns

either

(i)

an

offsetting

(“covered”)

position

in

securities,

other

options,

or

futures

or

(ii)

cash

and

liquid

obligations

with

a

value

sufficient

at

all

times

to

cover

its

potential

obligations

to

the

extent

not

covered

as

provided

in

(i)

above.

A

Fund

will

also

earmark

or

set

aside

cash

and/or

appropriate

liquid

assets

in

a

segregated

custodial

account

as

required

by

SEC

and

U.S.

Commodity

Futures

Trading

Commission

regulations.

Assets

used

as

cover

or

held

in

a

segregated

account

cannot

be

sold

while

the

position

in

the

corresponding

option

or

futures

contract

is

open,

unless

they

are

replaced

with

similar

assets.

As

a

result,

the

commitment

of

a

large

portion

of the

Fund’s

assets

to

earmarking

or

segregated

accounts

as

a

cover

could

impede

portfolio

management

or the

Fund’s

ability

to

meet

redemption

requests

or

other

current

obligations.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Assets:

Fair

Value

Purchased

Swaptions

Interest

rate

risk

Investment

securities,

at

value

$

170,847

Swap

Contracts†

Credit

risk

Unrealized

appreciation

from

centrally

cleared

swap

contracts

32,248

Interest

rate

risk

Unrealized

appreciation

on

centrally

cleared

swap

contracts

2,703,078

Forward

Foreign

Currency

Contracts

Currency

risk

Unrealized

appreciation

on

forward

foreign

currency

contracts

16,237

Futures

Contracts

Interest

rate

risk

Unrealized

appreciation

from

futures

contracts

3,517,736

Total

$

6,440,146

24

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Portfolio

Liabilities:

Written

Swaptions

Interest

rate

risk

Written

options,

at

value

$

(129,533)

Swap

Contracts†

Interest

rate

risk

Unrealized

depreciation

on

centrally

cleared

swap

contracts

(2,803,232)

Futures

Contracts

Interest

rate

risk

Unrealized

depreciation

from

futures

contracts

(223,976)

Total

$

(3,156,741)

†

Swap

contracts

are

included

in

the

table

at

value,

with

the

exception

of

centrally

cleared

swap

contracts

which

are

included

in

the

table

at

unrealized

appreciation/(depreciation).

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

U.S.

130/30

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

25

Common

Stocks

96.7%

Shares

Value

($)

Automobile

Components

1.6%

BorgWarner,

Inc.

112,684

3,978,872

Lear

Corp.

34,422

4,200,861

8,179,733

Automobiles

1.3%

General

Motors

Co.

153,491

6,802,721

Banks

0.6%

BOK

Financial

Corp.

4,718

485,199

Comerica,

Inc.

9,423

516,475

KeyCorp

114,540

1,847,530

2,849,204

Beverages

0.1%

Boston

Beer

Co.,

Inc.

(The),

Class

A*

1,616

452,819

Biotechnology

2.7%

Exelixis,

Inc.*

81,051

1,900,646

Incyte

Corp.*

35,645

2,319,420

Ionis

Pharmaceuticals,

Inc.*

17,978

889,192

Neurocrine

Biosciences,

Inc.*

28,080

3,975,286

Sarepta

Therapeutics,

Inc.*

24,622

3,502,233

Ultragenyx

Pharmaceutical,

Inc.*

25,912

1,166,558

13,753,335

Broadline

Retail

2.3%

Amazon.com,

Inc.*

52,077

9,737,357

MercadoLibre,

Inc.*

1,132

1,889,195

11,626,552

Building

Products

0.4%

Builders

FirstSource,

Inc.*

13,297

2,225,519

Capital

Markets

1.6%

Bank

of

New

York

Mellon

Corp.

(The)

12,328

802,183

Evercore,

Inc.,

Class

A

702

175,774

Northern

Trust

Corp.

27,981

2,480,515

Robinhood

Markets,

Inc.,

Class

A*

13,238

272,306

State

Street

Corp.

53,002

4,503,580

8,234,358

Chemicals

4.6%

Dow,

Inc.

115,159

6,272,711

DuPont

de

Nemours,

Inc.

81,048

6,783,718

Huntsman

Corp.

155,896

3,730,591

LyondellBasell

Industries

NV,

Class

A

64,950

6,459,927

Westlake

Corp.

956

141,354

23,388,301

Commercial

Services

&

Supplies

1.4%

Veralto

Corp.

67,039

7,143,676

Vestis

Corp.

12,707

164,810

7,308,486

Construction

&

Engineering

0.9%

AECOM

51,340

4,651,917

Consumer

Finance

2.1%

Ally

Financial,

Inc.

2,915

131,204

SLM

Corp.

99,929

2,267,389

Synchrony

Financial

168,768

8,571,727

10,970,320

Common

Stocks

Shares

Value

($)

Consumer

Staples

Distribution

&

Retail

0.3%

Maplebear,

Inc.*

48,074

1,658,072

Diversified

Consumer

Services

0.1%

Duolingo,

Inc.,

Class

A*

3,709

637,725

Diversified

Telecommunication

Services

0.1%

Iridium

Communications,

Inc.

25,985

745,770

Electric

Utilities

4.2%

Constellation

Energy

Corp.

18,914

3,589,877

Exelon

Corp.

158,066

5,880,055

NRG

Energy,

Inc.

103,326

7,767,016

Pinnacle

West

Capital

Corp.

50,560

4,327,430

21,564,378

Electrical

Equipment

0.2%

GE

Vernova,

Inc.*

4,648

828,460

Electronic

Equipment,

Instruments

&

Components

0.5%

Amphenol

Corp.,

Class

A

43,772

2,812,789

Entertainment

1.7%

Live

Nation

Entertainment,

Inc.*

63,934

6,149,812

Playtika

Holding

Corp.

39,621

302,308

ROBLOX

Corp.,

Class

A*

53,491

2,220,946

8,673,066

Financial

Services

2.5%

Corebridge

Financial,

Inc.

136,286

4,027,252

PayPal

Holdings,

Inc.*

134,758

8,864,381

12,891,633

Food

Products

2.3%

Archer-Daniels-Midland

Co.

120,115

7,448,331

Pilgrim's

Pride

Corp.*

3,200

131,936

Tyson

Foods,

Inc.,

Class

A

71,178

4,334,740

11,915,007

Ground

Transportation

5.1%

JB

Hunt

Transport

Services,

Inc.

16,815

2,911,517

Landstar

System,

Inc.

3,551

675,578

Lyft,

Inc.,

Class

A*

230,334

2,775,525

Old

Dominion

Freight

Line,

Inc.

36,870

7,749,337

Ryder

System,

Inc.

6,827

956,872

Saia,

Inc.*

5,092

2,127,692

Schneider

National,

Inc.,

Class

B

36,591

984,664

Uber

Technologies,

Inc.*

123,705

7,975,261

26,156,446

Health

Care

Equipment

&

Supplies

1.2%

Align

Technology,

Inc.*

7,605

1,763,447

GE

HealthCare

Technologies,

Inc.

49,516

4,190,539

5,953,986

Health

Care

Providers

&

Services

4.6%

Elevance

Health,

Inc.

17,181

9,140,807

Humana,

Inc.

21,829

7,893,585

McKesson

Corp.

4,568

2,818,547

Molina

Healthcare,

Inc.*

10,262

3,502,113

23,355,052

Hotels,

Restaurants

&

Leisure

3.5%

Airbnb,

Inc.,

Class

A*

16,763

2,339,444

Booking

Holdings,

Inc.

2,405

8,934,599

26

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

U.S.

130/30

Equity

Portfolio

Common

Stocks

Shares

Value

($)

Hotels,

Restaurants

&

Leisure

Domino's

Pizza,

Inc.

15,383

6,594,692

17,868,735

Household

Durables

0.9%

Lennar

Corp.,

Class

A

22,148

3,918,646

PulteGroup,

Inc.

5,185

684,420

4,603,066

Independent

Power

and

Renewable

Electricity

Producers

1.2%

Vistra

Corp.

75,131

5,951,878

Insurance

6.3%

Allstate

Corp.

(The)

37,349

6,391,161

Arch

Capital

Group

Ltd.*

13,740

1,316,017

Brighthouse

Financial,

Inc.*

34,712

1,731,087

Globe

Life,

Inc.

76,644

7,107,965

Hanover

Insurance

Group,

Inc.

(The)

15,237

2,094,935

Hartford

Financial

Services

Group,

Inc.

(The)

14,251

1,580,721

Reinsurance

Group

of

America,

Inc.

21,204

4,780,018

Travelers

Cos.,

Inc.

(The)

34,705

7,511,550

32,513,454

Interactive

Media

&

Services

2.6%

Alphabet,

Inc.,

Class

C

50,058

8,667,543

Meta

Platforms,

Inc.,

Class

A

7,821

3,713,645

Snap,

Inc.,

Class

A*

12,663

168,671

TripAdvisor,

Inc.*

33,211

585,510

13,135,369

IT

Services

1.9%

DXC

Technology

Co.*

8,397

170,795

EPAM

Systems,

Inc.*

4,787

1,029,827

Kyndryl

Holdings,

Inc.*

123,175

3,309,712

Twilio,

Inc.,

Class

A*

5,482

324,151

VeriSign,

Inc.*

26,706

4,994,289

9,828,774

Life

Sciences

Tools

&

Services

0.0%

†

Fortrea

Holdings,

Inc.*

5,858

161,622

Machinery

1.6%

Cummins,

Inc.

2,526

737,087

Otis

Worldwide

Corp.

80,785

7,634,182

8,371,269

Metals

&

Mining

0.2%

Alcoa

Corp.

30,110

994,834

Oil,

Gas

&

Consumable

Fuels

3.6%

ConocoPhillips

22,463

2,497,886

Diamondback

Energy,

Inc.

7,818

1,581,660

Marathon

Petroleum

Corp.

8,566

1,516,353

Phillips

66

28,807

4,190,842

Valero

Energy

Corp.

52,240

8,448,253

18,234,994

Paper

&

Forest

Products

1.2%

Louisiana-Pacific

Corp.

61,843

6,070,509

Pharmaceuticals

1.5%

Merck

&

Co.,

Inc.

59,579

6,740,172

Organon

&

Co.

42,751

934,537

7,674,709

Common

Stocks

Shares

Value

($)

Professional

Services

4.1%

Automatic

Data

Processing,

Inc.

36,450

9,572,499

KBR,

Inc.

79,957

5,324,337

ManpowerGroup,

Inc.

1,007

77,116

Paycom

Software,

Inc.

11,231

1,873,218

Robert

Half,

Inc.

51,906

3,331,846

TriNet

Group,

Inc.

6,026

628,211

20,807,227

Real

Estate

Management

&

Development

0.3%

Howard

Hughes

Holdings,

Inc.*

18,448

1,368,288

Residential

REITs

1.7%

Camden

Property

Trust

38,047

4,213,705

Essex

Property

Trust,

Inc.

16,688

4,645,272

8,858,977

Semiconductors

&

Semiconductor

Equipment

5.6%

Amkor

Technology,

Inc.

23,192

757,451

Cirrus

Logic,

Inc.*

17,007

2,219,073

Monolithic

Power

Systems,

Inc.

509

439,313

NVIDIA

Corp.

192,947

22,578,658

Teradyne,

Inc.

22,298

2,924,606

28,919,101

Software

11.4%

Atlassian

Corp.,

Class

A*

29,723

5,248,190

Confluent,

Inc.,

Class

A*

38,504

963,370

Crowdstrike

Holdings,

Inc.,

Class

A*

12,340

2,862,386

DoubleVerify

Holdings,

Inc.*

19,186

405,208

Dropbox,

Inc.,

Class

A*

156,390

3,740,849

Dynatrace,

Inc.*

5,481

240,726

Fortinet,

Inc.*

120,912

7,017,732

Gitlab,

Inc.,

Class

A*

9,266

474,697

Guidewire

Software,

Inc.*

13,957

2,094,527

Microsoft

Corp.

49,016

20,505,844

Nutanix,

Inc.,

Class

A*

75,319

3,804,363

Procore

Technologies,

Inc.*

51,390

3,650,232

SentinelOne,

Inc.,

Class

A*

105,458

2,414,988

Smartsheet,

Inc.,

Class

A*

63,786

3,059,177

Teradata

Corp.*

19,079

618,541

UiPath,

Inc.,

Class

A*

53,995

657,119

Workday,

Inc.,

Class

A*

1,830

415,630

58,173,579

Specialty

Retail

0.5%

Williams-Sonoma,

Inc.

16,973

2,625,384

Technology

Hardware,

Storage

&

Peripherals

6.0%

Apple,

Inc.

137,445

30,523,786

Trading

Companies

&

Distributors

0.2%

WESCO

International,

Inc.

5,225

914,114

Total

Investments

(cost

$426,447,404)

—

96.7%

495,235,318

Other

assets

in

excess

of

liabilities

—

3.3%

17,014,534

NET

ASSETS

—

100.0%

$

512,249,852

*

Denotes

a

non-income

producing

security.

†

Amount

rounds

to

less

than

0.1%.

Nationwide

U.S.

130/30

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

27

REIT

Real

Estate

Investment

Trust

OTC

Total

return

swap

contracts

outstanding

as

of

July

31,

2024

:

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Acadia

Healthcare

Co.,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

36,007

91,098

91,098

Airbnb,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

12/31/2024

19,983

11,390

11,390

Align

Technology,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

11,956

8,608

8,608

Ally

Financial,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

57,454

27,578

27,578

Alphabet,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

26,123

33,699

33,699

Amkor

Technology,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

6,777

14,571

14,571

Amphenol

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

87,980

207,256

207,256

Apple,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

59,394

194,812

194,812

Aspen

Technology,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

6,326

12,399

12,399

Avantor,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

11/29/2024

7,232

6,509

6,509

Bank

of

New

York

Mellon

Corp.

(The)

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

53,741

16,122

16,122

Bio-Techne

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

33,624

12,777

12,777

Booking

Holdings,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

286

792

792

BorgWarner,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

1/31/2025

31,603

90,385

90,385

Boston

Beer

Co.,

Inc.

(The)

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

2/28/2025

2,282

2,328

2,328

Bright

Horizons

Family

Solutions,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

8,554

17,365

17,365

Charter

Communications,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

7,998

26,793

26,793

Choice

Hotels

International,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

10.70%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

7/31/2025

17,727

66,166

66,166

28

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

U.S.

130/30

Equity

Portfolio

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Cirrus

Logic,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

7/31/2025

12,239

15,666

15,666

Columbia

Banking

System,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

76,991

7,699

7,699

Comerica,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

1,280

2,317

2,317

Confluent,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

12/31/2024

25,165

18,370

18,370

ConocoPhillips

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

16,495

21,279

21,279

Constellation

Energy

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

7/31/2025

7,205

152,098

152,098

Cummins,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

5,343

14,747

14,747

Cytokinetics,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

5,090

5,853

5,853

Dow,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

7/31/2025

12,983

10,127

10,127

EPAM

Systems,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

11,124

15,796

15,796

Erie

Indemnity

Co.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

3,514

1,550

1,550

Evercore,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

11/29/2024

1,749

5,649

5,649

FirstCash

Holdings,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

14,071

4,362

4,362

Five9,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

9,428

4,620

4,620

GE

HealthCare

Technologies,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

21,829

43,876

43,876

General

Motors

Co.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

16,457

1,481

1,481

Guidewire

Software,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

1/31/2025

27,525

10,184

10,184

Halozyme

Therapeutics,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

37,623

16,178

16,178

Healthcare

Realty

Trust,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

144,872

5,795

5,795

Nationwide

U.S.

130/30

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

29

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Howard

Hughes

Holdings,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

2/28/2025

3,622

1,449

1,449

Huntsman

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

47,896

14,848

14,848

Insmed,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

5,991

959

959

Iridium

Communications,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

1/31/2025

973

292

292

JB

Hunt

Transport

Services,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

19,986

19,786

19,786

KBR,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

8,463

5,332

5,332

Lear

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

2/28/2025

3,975

3,736

3,736

Liberty

Media

Corp-

Liberty

SiriusXM

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

70,672

19,081

19,081

Maplebear,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

48,874

12,218

12,218

McKesson

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

11,294

89,448

89,448

Medical

Properties

Trust,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

1.70%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

546,566

37,054

37,054

Meta

Platforms,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

1,124

13,083

13,083

Monolithic

Power

Systems,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

2,219

183,045

183,045

Newell

Brands,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

78,171

10,944

10,944

NVIDIA

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

151,488

2,014,179

2,014,179

Old

National

Bancorp

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

138,904

19,447

19,447

Ollie's

Bargain

Outlet

Holdings,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

9,243

13,864

13,864

OneMain

Holdings,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

11,614

10,220

10,220

Pinnacle

West

Capital

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

1,504

211

211

30

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

U.S.

130/30

Equity

Portfolio

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Playtika

Holding

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

11/29/2024

17,042

2,215

2,215

Procore

Technologies,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

18,851

4,147

4,147

RBC

Bearings,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

8,500

7,055

7,055

Robert

Half,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

3/31/2025

13,211

661

661

Robinhood

Markets,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/30/2024

57,708

9,810

9,810

ROBLOX

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

3,205

1,570

1,570

Ryder

System,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

3,106

2,547

2,547

S&P

Global,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

5,380

20,336

20,336

Schneider

National,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

11,095

2,274

2,274

Seagate

Technology

Holdings

plc

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

60,057

184,375

184,375

SentinelOne,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

2/28/2025

9,737

3,408

3,408

Shift4

Payments,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.45%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

13,656

1,775

1,775

Smartsheet,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

16,552

9,435

9,435

Snap,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

55,200

12,696

12,696

Teradata

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

2,016

585

585

Teradyne,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

30,101

295,592

295,592

TFS

Financial

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

18,242

3,831

3,831

Thor

Industries,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

4,320

1,080

1,080

Twilio,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

12,590

1,511

1,511

Nationwide

U.S.

130/30

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

31

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Tyler

Technologies,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

472

3,040

3,040

Uber

Technologies,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

1/31/2025

12,913

17,820

17,820

Ultragenyx

Pharmaceutical,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

30,707

9,519

9,519

Vaxcyte,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

22,266

22,489

22,489

VeriSign,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

3,065

153

153

Vestis

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

7/31/2025

55,393

13,571

13,571

Vistra

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

1,284

13,402

13,402

Walgreens

Boots

Alliance,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

185,668

53,844

53,844

Warner

Bros

Discovery,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

349,880

45,484

45,484

Wendy's

Co.

(The)

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

26,041

13,020

13,020

WESCO

International,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

7,298

33,371

33,371

Workday,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

7,978

5,107

5,107

–

–

Total

unrealized

appreciation

4,463,214

4,463,214

–

–

AAON,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

28,494

(57,978)

(57,978)

AeroVironment,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

5,671

(28,468)

(28,468)

AGNC

Investment

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

250,348

(20,898)

(20,898)

Albemarle

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

23,197

(34,468)

(34,468)

Alliant

Energy

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

40,025

(400)

(400)

Analog

Devices,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

10/31/2024

11,228

(76,350)

(76,350)

Annaly

Capital

Management,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

80,913

(36,218)

(36,218)

32

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

U.S.

130/30

Equity

Portfolio

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Apollo

Global

Management,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

20,513

(54,770)

(54,770)

Azenta,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

28,375

(8,513)

(8,513)

Badger

Meter,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

18

(74)

(74)

BOK

Financial

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

7,146

(10,076)

(10,076)

Bridgebio

Pharma,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

14,609

(146)

(146)

Brighthouse

Financial,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

11/29/2024

11,398

(9,004)

(9,004)

Camden

Property

Trust

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

995

(10)

(10)

Casella

Waste

Systems,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

24,664

(22,691)

(22,691)

Casey's

General

Stores,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

6,141

(1,842)

(1,842)

Churchill

Downs,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

17,931

(10,938)

(10,938)

Civitas

Resources,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

16,914

(13,024)

(13,024)

Cognex

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

41,197

(30,898)

(30,898)

Coherent

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

7/31/2025

37,397

(169,408)

(169,408)

Crocs,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

7,474

(13,154)

(13,154)

Crowdstrike

Holdings,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

10,036

(16,961)

(16,961)

Darling

Ingredients,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

30,367

(15,184)

(15,184)

DoubleVerify

Holdings,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

30,575

(14,065)

(14,065)

DR

Horton,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

1/31/2025

2,006

(1,023)

(1,023)

Dropbox,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

120,066

(73,240)

(73,240)

Nationwide

U.S.

130/30

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

33

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

DXC

Technology

Co.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

9/30/2024

82,761

(5,793)

(5,793)

Elanco

Animal

Health,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

60,847

(8,519)

(8,519)

Enphase

Energy,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

18,856

(108,233)

(108,233)

Envista

Holdings

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

78,283

(13,308)

(13,308)

Expedia

Group,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

25,785

(22,175)

(22,175)

Fiserv,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

16,707

(7,685)

(7,685)

Five

Below,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

15,095

(17,359)

(17,359)

Floor

&

Decor

Holdings,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

11,522

(26,040)

(26,040)

Fortrea

Holdings,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

25,535

(7,405)

(7,405)

Frontier

Communications

Parent,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

92,652

(63,930)

(63,930)

Gen

Digital,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

103,921

(22,863)

(22,863)

Globus

Medical,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

40,980

(39,341)

(39,341)

Hanover

Insurance

Group,

Inc.

(The)

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

10/31/2024

1,983

(1,031)

(1,031)

Hartford

Financial

Services

Group,

Inc.

(The)

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

11/29/2024

29,882

(11,654)

(11,654)

Howmet

Aerospace,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

32,904

(62,189)

(62,189)

Humana,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

7/31/2025

400

(16,810)

(16,810)

Incyte

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

30,042

(81,714)

(81,714)

Ionis

Pharmaceuticals,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

1/31/2025

2,522

(807)

(807)

Iron

Mountain,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

2/28/2025

22,797

(43,770)

(43,770)

34

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

U.S.

130/30

Equity

Portfolio

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Kirby

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

19,165

(44,654)

(44,654)

Kraft

Heinz

Co.

(The)

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

77,673

(127,500)

(127,500)

Lattice

Semiconductor

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

9/30/2025

20,259

(14,232)

(14,232)

Lennar

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

13,070

(39,471)

(39,471)

Lithia

Motors,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

4,492

(43,303)

(43,303)

Louisiana-Pacific

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

11/29/2024

6,960

(3,828)

(3,828)

MACOM

Technology

Solutions

Holdings,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

10,034

(49,568)

(49,568)

Marathon

Petroleum

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

12,882

(16,360)

(16,360)

Marvell

Technology,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

26,365

(111,495)

(111,495)

Merck

&

Co.,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

13,057

(17,627)

(17,627)

Microsoft

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

11,244

(51,385)

(51,385)

MicroStrategy,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

2/28/2025

320

(3,318)

(3,318)

Modine

Manufacturing

Co.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

6,512

(122,035)

(122,035)

Molina

Healthcare,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

11,454

(108,355)

(108,355)

Motorola

Solutions,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

6,583

(29,464)

(29,464)

New

Fortress

Energy,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.70%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

37,016

(11,845)

(11,845)

NVR,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

3/31/2025

616

(33,572)

(33,572)

ONEOK,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

30,658

(16,555)

(16,555)

Onto

Innovation,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

11,082

(148,610)

(148,610)

Nationwide

U.S.

130/30

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

35

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Penn

Entertainment,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

9,905

(4,556)

(4,556)

Phillips

66

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

19,705

(33,301)

(33,301)

PulteGroup,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

22,603

(22,151)

(22,151)

Rayonier,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

17,556

(3,234)

(3,234)

Reinsurance

Group

of

America,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

11/29/2024

565

(203)

(203)

Repligen

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

17,255

(116,644)

(116,644)

Service

Corp.

International

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

14,521

(2,097)

(2,097)

SLM

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

11/29/2024

46,668

(5,133)

(5,133)

SoFi

Technologies,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.45%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

33,554

(4,026)

(4,026)

Sotera

Health

Co.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

81,721

(22,882)

(22,882)

SPX

Technologies,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

8,855

(20,012)

(20,012)

State

Street

Corp.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

4/30/2025

30,779

(1,231)

(1,231)

STERIS

plc

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

11,774

(17,896)

(17,896)

Super

Micro

Computer,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

2,522

(89,128)

(89,128)

Tempur

Sealy

International,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

29,324

(10,557)

(10,557)

TriNet

Group,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

5/30/2025

87

(169)

(169)

TripAdvisor,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

6/30/2025

102,437

(39,950)

(39,950)

Tyson

Foods,

Inc.

OBFR

+

0.30%

and

decreases

in

total

return

of

reference

entity

Increases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

11/29/2024

38,387

(384)

(384)

Ubiquiti,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

5,758

(49,346)

(49,346)

36

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

U.S.

130/30

Equity

Portfolio

Reference

Entity

Payments

Made

by

Fund

Payments

Received

by

Fund

Frequency

of

Payments

Made/

Received

Counterparty

Maturity

Date

Quantity

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

UGI

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

61,640

(14,444)

(14,444)

Union

Pacific

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

10,794

(24,928)

(24,928)

UWM

Holdings

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

122,742

(8,592)

(8,592)

VF

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

154,315

(58,640)

(58,640)

Waters

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

8,489

(73,175)

(73,175)

WillScot

Holdings

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

47,510

(1,900)

(1,900)

Wolfspeed,

Inc.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

9/30/2025

66,321

(63,611)

(63,611)

Zurn

Elkay

Water

Solutions

Corp.

Increases

in

total

return

of

reference

entity

OBFR

-

0.25%

and

decreases

in

total

return

of

reference

entity

Monthly

JPMorgan

Chase

Bank

NA

8/29/2025

44,811

(9,859)

(9,859)

–

–

Total

unrealized

depreciation

(2,971,653)

(2,971,653)

–

–

Net

unrealized

appreciation

1,491,561

1,491,561

Financing

Costs

of

Swap

Contracts

(129,453)

(129,453)

Total

Unrealized

Appreciation

(Depreciation)

including

Financing

Costs

of

Swap

Contracts

1,362,108

1,362,108

As

of

July

31,

2024,

the

Fund

had

$8,950,000

segregated

as

collateral

for

swap

contracts.

OBFR

Overnight

Bank

Funding

Rate

Nationwide

U.S.

130/30

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

37

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

38

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

U.S.

130/30

Equity

Portfolio

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using swap

contracts.

(a)

Swap

Contracts             

Total

Return

Swap

Contracts

— The

Fund

entered

into

total

return

swap

contracts

to

take

long

and

short

positions

in

equities

or to

obtain

exposure

to

a

foreign

market

and/or

foreign

index

without

owning

such

securities

or

investing

directly

in

that

foreign

market

and/or

foreign

index,

as

applicable,

to

meet the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Total

return

swap

contracts

are

agreements

in

which

the

Fund

and

the

counterparty

each

agree

to

pay

the

other

party

the

difference

between

the

relative

investment

performance

that

would

have

been

achieved

if

the

notional

amount

of

the

total

return

swap

contract

had

been

invested

in

the

particular

foreign

market

and/or

foreign

indices

and

the

return

for

payments

equal

to

the

fixed

or

floating

rate

of

interest.

The

counterparty

to

a

total

return

swap

contract

is

a

financial

institution. The

Fund

has

segregated

liquid

assets

to

cover

its

obligations

under

the

total

return

swap

contract.

Total

return

swaps

are

designed

to

function

as

a

portfolio

of

direct

investments

in

long

and

short

equity

positions.

This

means

that the

Fund

has

the

ability

to

trade

in

and

out

of

these

long

and

short

positions

within

the

swap

and

will

receive

the

economic

benefits

and

risks

equivalent

to

direct

investment

in

these

positions,

subject

to

certain

adjustments

due

to

events

related

to

the

counterparty.

Benefits

and

risks

include

capital

appreciation

(depreciation),

corporate

actions

and

dividends

received

and

paid,

all

of

which

are

reflected

in

the

swap’s

market

value.

The

market

value

also

includes

interest

charges

and

credits

(“financing

fees”)

related

to

the

notional

values

of

the

long

and

short

positions

and

cash

balances

within

the

swap.

These

interest

charges

and

credits

are

based

on

a

specified

benchmark

rate

plus

or

minus

a

specified

spread

determined

based

upon

the

country

and/or

currency

of

the

positions

in

the

portfolio.

Positions

within

the

swap

and

financing

fees

are

reset

periodically.

During

a

reset,

any

unrealized

appreciation

(depreciation)

on

positions

and

accrued

financing

fees

become

available

for

cash

settlement

between the

Fund

and

the

counterparty.

Cash

settlement

in

and

out

of

the

swap

may

occur

at

a

reset

date

or

any

other

date,

at

the

discretion

of

the

Fund

and

the

counterparty,

over

the

life

of

the

agreement.

Certain

swaps

have

no

stated

expiration

and

can

be

terminated

by

either

party

at

any

time.

Total

return

swap

contracts

are

marked-to-market

daily

based

on

valuations

from

an

independent

pricing

service.

An

independent

pricing

service

can

utilize

daily

swap

curves

and

models

that

incorporate

a

number

of

market

data

factors,

such

as,

but

not

limited

to,

discounted

cash

flows,

trades,

and

values

of

the

underlying

reference

instruments,

such

as

the

foreign

market

and/or

foreign

index.

Total

return

swap

contracts

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

495,235,318

$

–

$

–

$

495,235,318

Total

Return

Swaps†

–

4,463,214

–

4,463,214

Total

Assets

$

495,235,318

$

4,463,214

$

–

$

499,698,532

Liabilities:

Total

Return

Swaps†

$

–

$

(3,101,106)

$

–

$

(3,101,106)

Total

Liabilities

$

–

$

(3,101,106)

$

–

$

(3,101,106)

Total

$

495,235,318

$

1,362,108

$

–

$

496,597,426

†

Swap

contracts

are

included

in

the

table

at

value,

with

the

exception

of

centrally

cleared

swap

contracts

which

are

included

in

the

table

at

unrealized

appreciation/(depreciation).

Nationwide

U.S.

130/30

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

39

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Assets:

Fair

Value

Swap

Contracts†

Equity

risk

Swap

contracts,

at

value

$

4,463,214

Total

$

4,463,214

Liabilities:

Swap

Contracts†

Equity

risk

Swap

contracts,

at

value

$

(3,101,106)

Total

$

(3,101,106)

†

Swap

contracts

are

included

in

the

table

at

value,

with

the

exception

of

centrally

cleared

swap

contracts

which

are

included

in

the

table

at

unrealized

appreciation/(depreciation).

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

40

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

Common

Stocks

96

.1

%

Shares

Value

($)

Aerospace

&

Defense

1

.0

%

AAR

Corp.*

937

60,530

AeroVironment,

Inc.*

596

106,410

Archer

Aviation,

Inc.,

Class

A*

12,870

53,668

Boeing

Co.

(The)*

23,914

4,558,008

Cadre

Holdings,

Inc.

1,147

42,095

Ducommun,

Inc.*

214

13,732

General

Electric

Co.

88,379

15,042,106

Intuitive

Machines,

Inc.*

3,593

14,300

Kratos

Defense

&

Security

Solutions,

Inc.*

2,333

52,586

Leonardo

DRS,

Inc.*

2,213

62,407

Mercury

Systems,

Inc.*

481

17,099

Moog,

Inc.,

Class

A

969

190,021

National

Presto

Industries,

Inc.

406

31,047

Park

Aerospace

Corp.

912

12,230

Redwire

Corp.*

2,058

14,571

Rocket

Lab

USA,

Inc.*

10,381

54,396

Terran

Orbital

Corp.*

11,430

8,226

TransDigm

Group,

Inc.

9,730

12,592,761

Triumph

Group,

Inc.*

2,025

33,190

V2X,

Inc.*

254

13,241

Virgin

Galactic

Holdings,

Inc.*

3,317

23,584

VirTra,

Inc.*

1,786

15,663

33,011,871

Air

Freight

&

Logistics

0

.5

%

FedEx

Corp.

12,754

3,854,896

Forward

Air

Corp.

637

16,154

GXO

Logistics,

Inc.*

30,707

1,718,978

Hub

Group,

Inc.,

Class

A

2,776

129,834

United

Parcel

Service,

Inc.,

Class

B

77,540

10,108,890

15,828,752

Automobile

Components

0

.2

%

Adient

plc*

1,912

49,253

American

Axle

&

Manufacturing

Holdings,

Inc.*

1,283

9,533

Aptiv

plc*

44,230

3,069,120

Cooper-Standard

Holdings,

Inc.*

2,260

33,403

Dana,

Inc.

2,147

27,288

Dorman

Products,

Inc.*

1,015

102,890

Fox

Factory

Holding

Corp.*

624

33,315

Gentherm,

Inc.*

697

38,460

Goodyear

Tire

&

Rubber

Co.

(The)*

8,048

94,162

Holley,

Inc.*

9,565

37,686

LCI

Industries

649

75,732

Luminar

Technologies,

Inc.,

Class

A*

21,207

35,204

Mobileye

Global,

Inc.,

Class

A*

157,548

3,308,508

Modine

Manufacturing

Co.*

1,562

183,785

Patrick

Industries,

Inc.

1,058

135,487

Phinia,

Inc.

2,188

97,804

Solid

Power,

Inc.*

2,892

5,437

Visteon

Corp.*

543

62,738

7,399,805

Automobiles

0

.9

%

Canoo,

Inc.*

6,544

13,153

General

Motors

Co.

436,217

19,333,137

Common

Stocks

Shares

Value

($)

Automobiles

Livewire

Group,

Inc.*

1,361

10,031

Tesla,

Inc.*

45,897

10,651,317

Winnebago

Industries,

Inc.

582

36,387

30,044,025

Banks

4

.3

%

1st

Source

Corp.

885

56,242

Amalgamated

Financial

Corp.

1,047

33,305

Ameris

Bancorp

1,814

110,454

Associated

Banc-Corp.

3,942

90,587

Atlantic

Union

Bankshares

Corp.

1,860

76,799

Axos

Financial,

Inc.*

1,616

117,984

Banc

of

California,

Inc.

2,155

30,127

BancFirst

Corp.

237

25,461

Bancorp,

Inc.

(The)*

1,885

97,718

Bank

First

Corp.

341

31,611

Bank

of

America

Corp.

796,505

32,107,117

Bank

of

Hawaii

Corp.

1,042

71,471

Bank

of

NT

Butterfield

&

Son

Ltd.

(The)

1,977

75,798

BankUnited,

Inc.

1,593

61,362

Banner

Corp.

1,268

75,091

BayCom

Corp.

1,454

35,027

Berkshire

Hills

Bancorp,

Inc.

2,187

60,361

Brookline

Bancorp,

Inc.

2,338

24,526

Burke

&

Herbert

Financial

Services

Corp.

75

5,078

Byline

Bancorp,

Inc.

789

22,131

Cadence

Bank

5,317

174,770

Camden

National

Corp.

795

33,136

Capital

Bancorp,

Inc.

694

17,690

Capital

City

Bank

Group,

Inc.

758

26,909

Capitol

Federal

Financial,

Inc.

6,191

39,127

Cathay

General

Bancorp

2,260

100,163

Central

Pacific

Financial

Corp.

2,258

58,911

Citigroup,

Inc.

253,114

16,422,036

Citizens

Financial

Group,

Inc.

120,001

5,120,443

City

Holding

Co.

667

81,307

CNB

Financial

Corp.

703

18,039

Community

Financial

System,

Inc.

1,737

107,138

Community

Trust

Bancorp,

Inc.

1,077

54,625

ConnectOne

Bancorp,

Inc.

2,205

53,405

CrossFirst

Bankshares,

Inc.*

2,208

40,936

Customers

Bancorp,

Inc.*

1,005

64,802

CVB

Financial

Corp.

3,518

67,053

Dime

Community

Bancshares,

Inc.

579

14,637

Eagle

Bancorp,

Inc.

556

11,965

East

West

Bancorp,

Inc.

127,114

11,172,049

Eastern

Bankshares,

Inc.

4,079

67,875

Enterprise

Financial

Services

Corp.

1,132

59,849

Farmers

National

Banc

Corp.

1,865

29,113

FB

Financial

Corp.

376

17,555

First

Bancorp

6,996

161,196

First

Bancshares,

Inc.

(The)

1,103

36,752

First

Busey

Corp.

2,182

59,874

First

Business

Financial

Services,

Inc.

385

17,718

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

41

Common

Stocks

Shares

Value

($)

Banks

First

Commonwealth

Financial

Corp.

3,484

62,991

First

Community

Bankshares,

Inc.

866

38,779

First

Financial

Bancorp

2,475

67,716

First

Financial

Bankshares,

Inc.

3,657

140,648

First

Financial

Corp.

1,154

51,884

First

Foundation,

Inc.

3,016

21,112

First

Interstate

BancSystem,

Inc.,

Class

A

1,621

51,175

First

Merchants

Corp.

2,198

88,689

First

Mid

Bancshares,

Inc.

454

17,429

Fulton

Financial

Corp.

6,718

130,128

German

American

Bancorp,

Inc.

1,000

39,340

Glacier

Bancorp,

Inc.

2,493

111,462

Great

Southern

Bancorp,

Inc.

479

29,990

Hancock

Whitney

Corp.

2,643

144,651

Hanmi

Financial

Corp.

2,328

47,491

HBT

Financial,

Inc.

1,534

35,282

Heartland

Financial

USA,

Inc.

455

24,807

Heritage

Commerce

Corp.

2,686

27,800

Heritage

Financial

Corp.

2,255

52,248

Hilltop

Holdings,

Inc.

679

22,400

Home

BancShares,

Inc.

6,113

173,181

Hope

Bancorp,

Inc.

3,704

48,745

Horizon

Bancorp,

Inc.

875

13,974

Huntington

Bancshares,

Inc.

251,899

3,765,890

Independent

Bank

Corp.

3,024

144,202

Independent

Bank

Group,

Inc.

564

33,310

International

Bancshares

Corp.

2,386

160,912

JPMorgan

Chase

&

Co.

210,724

44,842,067

Kearny

Financial

Corp.

3,488

25,114

Lakeland

Financial

Corp.

875

59,964

Live

Oak

Bancshares,

Inc.

792

35,751

M&T

Bank

Corp.

63,771

10,979,453

Mercantile

Bank

Corp.

1,180

57,065

Metropolitan

Bank

Holding

Corp.*

293

15,450

Midland

States

Bancorp,

Inc.

1,766

41,925

National

Bank

Holdings

Corp.,

Class

A

1,074

44,979

National

Bankshares,

Inc.

548

17,415

NB

Bancorp,

Inc.*

929

17,762

NBT

Bancorp,

Inc.

978

47,942

New

York

Community

Bancorp,

Inc.

8,947

94,122

Nicolet

Bankshares,

Inc.

85

8,548

Northeast

Community

Bancorp,

Inc.

2,180

49,660

Northfield

Bancorp,

Inc.

3,398

42,509

Northrim

Bancorp,

Inc.

563

38,509

Northwest

Bancshares,

Inc.

4,105

57,634

OceanFirst

Financial

Corp.

2,687

48,823

OFG

Bancorp

2,194

99,651

Old

National

Bancorp

8,727

174,715

Orange

County

Bancorp,

Inc.

264

16,418

Pacific

Premier

Bancorp,

Inc.

2,525

68,327

Park

National

Corp.

434

76,801

Pathward

Financial,

Inc.

1,114

75,240

Common

Stocks

Shares

Value

($)

Banks

Peapack-Gladstone

Financial

Corp.

207

5,850

Peoples

Bancorp

of

North

Carolina,

Inc.

489

15,540

Peoples

Bancorp,

Inc.

1,285

42,752

PNC

Financial

Services

Group,

Inc.

(The)

19,132

3,464,805

Preferred

Bank

820

70,569

Premier

Financial

Corp.

786

19,917

Princeton

Bancorp,

Inc.

547

21,399

Provident

Financial

Services,

Inc.

5,246

97,261

QCR

Holdings,

Inc.

622

47,546

RBB

Bancorp

1,158

26,715

Renasant

Corp.

1,417

48,731

Republic

Bancorp,

Inc.,

Class

A

842

55,252

S&T

Bancorp,

Inc.

1,609

71,407

Sandy

Spring

Bancorp,

Inc.

809

24,780

Seacoast

Banking

Corp.

of

Florida

1,582

44,043

ServisFirst

Bancshares,

Inc.

1,188

95,325

Sierra

Bancorp

1,627

47,329

Simmons

First

National

Corp.,

Class

A

3,342

71,953

South

Plains

Financial,

Inc.

1,102

35,749

Southern

States

Bancshares,

Inc.

525

17,178

Southside

Bancshares,

Inc.

1,441

50,421

SouthState

Corp.

2,345

232,085

Stock

Yards

Bancorp,

Inc.

735

45,732

Texas

Capital

Bancshares,

Inc.*

1,253

82,823

Timberland

Bancorp,

Inc.

1,132

34,583

Tompkins

Financial

Corp.

89

5,602

Towne

Bank

2,208

73,394

TriCo

Bancshares

1,250

58,163

Triumph

Financial,

Inc.*

408

37,018

TrustCo

Bank

Corp.

1,326

47,219

Trustmark

Corp.

1,573

54,630

UMB

Financial

Corp.

1,182

120,588

United

Bankshares,

Inc.

3,814

148,479

United

Community

Banks,

Inc.

2,084

64,500

Unity

Bancorp,

Inc.

986

34,135

Univest

Financial

Corp.

1,343

37,134

Valley

National

Bancorp

12,786

107,402

Veritex

Holdings,

Inc.

1,726

43,271

WaFd,

Inc.

1,875

66,731

Wells

Fargo

&

Co.

117,568

6,976,485

WesBanco,

Inc.

1,721

54,865

Westamerica

Bancorp

1,049

56,604

WSFS

Financial

Corp.

1,544

87,221

142,762,589

Beverages

0

.9

%

Coca-Cola

Co.

(The)

129,518

8,644,031

Coca-Cola

Europacific

Partners

plc

105,339

7,770,858

Constellation

Brands,

Inc.,

Class

A

25,825

6,331,257

Keurig

Dr

Pepper,

Inc.

185,858

6,371,212

MGP

Ingredients,

Inc.

583

47,544

42

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

Common

Stocks

Shares

Value

($)

Beverages

National

Beverage

Corp.

69

3,367

Primo

Water

Corp.*

5,609

123,005

Vita

Coco

Co.,

Inc.

(The)*

1,490

38,502

29,329,776

Biotechnology

3

.1

%

4D

Molecular

Therapeutics,

Inc.*

1,293

22,925

89bio,

Inc.*

1,380

12,641

AbbVie,

Inc.

193,656

35,888,330

Absci

Corp.*

5,951

26,184

ACADIA

Pharmaceuticals,

Inc.*

2,714

51,620

ACELYRIN,

Inc.*

2,280

13,680

Acrivon

Therapeutics,

Inc.*

1,766

14,799

Acumen

Pharmaceuticals,

Inc.*

6,147

20,285

ADC

Therapeutics

SA*

4,040

13,413

ADMA

Biologics,

Inc.*

5,257

64,556

Aerovate

Therapeutics,

Inc.*

719

1,309

Agios

Pharmaceuticals,

Inc.*

1,443

66,955

Akebia

Therapeutics,

Inc.*

14,502

20,013

Akero

Therapeutics,

Inc.*

2,031

54,289

Alkermes

plc*

5,019

137,119

Altimmune,

Inc.*

3,018

19,194

ALX

Oncology

Holdings,

Inc.*

2,442

11,722

Amgen,

Inc.

64,749

21,527,100

Amicus

Therapeutics,

Inc.*

7,992

82,398

AnaptysBio,

Inc.*

442

15,399

Anika

Therapeutics,

Inc.*

547

14,906

Annexon,

Inc.*

4,759

30,505

Apogee

Therapeutics,

Inc.*

1,170

56,979

Applied

Therapeutics,

Inc.*

3,276

19,459

Arcellx,

Inc.*

1,155

71,391

Arcturus

Therapeutics

Holdings,

Inc.*

1,173

27,519

Arcus

Biosciences,

Inc.*

1,677

27,520

Arcutis

Biotherapeutics,

Inc.*

4,175

42,042

Ardelyx,

Inc.*

6,676

37,052

Arrowhead

Pharmaceuticals,

Inc.*

3,488

99,617

Astria

Therapeutics,

Inc.*

1,792

20,931

Atossa

Therapeutics,

Inc.*

12,286

16,586

Aurinia

Pharmaceuticals,

Inc.*

4,393

25,831

Avid

Bioservices,

Inc.*

3,070

32,051

Avidity

Biosciences,

Inc.*

3,075

140,158

Beam

Therapeutics,

Inc.*

2,409

76,221

BioCryst

Pharmaceuticals,

Inc.*

6,509

47,385

Biogen,

Inc.*

45,480

9,696,336

Biohaven

Ltd.*

2,693

105,916

BioMarin

Pharmaceutical,

Inc.*

25,858

2,180,605

Black

Diamond

Therapeutics,

Inc.*

3,239

19,725

Blueprint

Medicines

Corp.*

1,787

193,532

Bridgebio

Pharma,

Inc.*

3,604

93,524

C4

Therapeutics,

Inc.*

3,097

20,750

Cabaletta

Bio,

Inc.*

2,944

20,902

CareDx,

Inc.*

2,896

57,891

Cargo

Therapeutics,

Inc.*

616

10,490

Cartesian

Therapeutics,

Inc.*

216

3,521

Common

Stocks

Shares

Value

($)

Biotechnology

Catalyst

Pharmaceuticals,

Inc.*

4,390

75,684

Celcuity,

Inc.*

864

15,837

Celldex

Therapeutics,

Inc.*

1,908

72,714

Century

Therapeutics,

Inc.*

3,940

8,786

CG

oncology,

Inc.*

359

11,973

Cogent

Biosciences,

Inc.*

2,760

26,027

Coherus

Biosciences,

Inc.*

9,577

14,749

Compass

Therapeutics,

Inc.*

15,641

16,110

Corbus

Pharmaceuticals

Holdings,

Inc.*

317

18,852

Crinetics

Pharmaceuticals,

Inc.*

1,628

86,479

Cullinan

Therapeutics,

Inc.*

1,058

20,472

Cytokinetics,

Inc.*

3,040

179,390

Day

One

Biopharmaceuticals,

Inc.*

1,117

15,984

Denali

Therapeutics,

Inc.*

2,935

71,526

Design

Therapeutics,

Inc.*

4,405

22,465

Dianthus

Therapeutics,

Inc.*

1,039

30,941

Disc

Medicine,

Inc.*

324

13,984

Dynavax

Technologies

Corp.*

2,418

27,057

Dyne

Therapeutics,

Inc.*

2,216

95,089

Entrada

Therapeutics,

Inc.*

957

15,762

Erasca,

Inc.*

7,550

23,782

Fate

Therapeutics,

Inc.*

7,768

41,403

Foghorn

Therapeutics,

Inc.*

2,769

19,438

G1

Therapeutics,

Inc.*

1,818

7,799

Generation

Bio

Co.*

8,098

27,047

Geron

Corp.*

16,669

79,011

Greenwich

Lifesciences,

Inc.*

797

12,848

Halozyme

Therapeutics,

Inc.*

4,672

258,175

Heron

Therapeutics,

Inc.*

7,911

23,496

Humacyte,

Inc.*

4,175

39,495

Ideaya

Biosciences,

Inc.*

2,125

91,481

IGM

Biosciences,

Inc.*

770

8,593

ImmunityBio,

Inc.*

4,044

20,827

Immunome,

Inc.*

2,435

37,523

Immunovant,

Inc.*

766

22,268

Inmune

Bio,

Inc.*

1,757

15,093

Inozyme

Pharma,

Inc.*

2,373

13,763

Insmed,

Inc.*

3,633

264,301

Intellia

Therapeutics,

Inc.*

2,146

56,247

Iovance

Biotherapeutics,

Inc.*

9,163

79,993

Ironwood

Pharmaceuticals,

Inc.,

Class

A*

5,454

37,251

iTeos

Therapeutics,

Inc.*

987

17,361

Janux

Therapeutics,

Inc.*

696

28,258

Jasper

Therapeutics,

Inc.*

604

11,168

KalVista

Pharmaceuticals,

Inc.*

1,064

15,471

Keros

Therapeutics,

Inc.*

664

33,306

Kiniksa

Pharmaceuticals

International

plc,

Class

A*

970

25,802

Kodiak

Sciences,

Inc.*

2,321

6,754

Korro

Bio,

Inc.*

110

5,122

Krystal

Biotech,

Inc.*

582

121,324

Kura

Oncology,

Inc.*

1,281

26,658

Kymera

Therapeutics,

Inc.*

1,531

70,732

Larimar

Therapeutics,

Inc.*

1,733

14,540

Lexeo

Therapeutics,

Inc.*

250

3,137

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

43

Common

Stocks

Shares

Value

($)

Biotechnology

Lexicon

Pharmaceuticals,

Inc.*

6,728

15,138

Lyell

Immunopharma,

Inc.*

15,242

24,540

Madrigal

Pharmaceuticals,

Inc.*

524

149,162

MannKind

Corp.*

10,865

62,582

MiMedx

Group,

Inc.*

5,442

40,543

Mineralys

Therapeutics,

Inc.*

1,223

15,153

Mirum

Pharmaceuticals,

Inc.*

746

30,250

Monte

Rosa

Therapeutics,

Inc.*

3,395

15,345

Morphic

Holding,

Inc.*

1,069

60,570

Myriad

Genetics,

Inc.*

2,770

77,477

Neurocrine

Biosciences,

Inc.*

77,534

10,976,488

Neurogene,

Inc.*

359

14,769

Nkarta,

Inc.*

2,233

14,358

Novavax,

Inc.*

3,841

49,203

Nurix

Therapeutics,

Inc.*

2,507

54,853

Nuvalent,

Inc.,

Class

A*

848

67,789

Ocugen,

Inc.*

8,463

11,891

Olema

Pharmaceuticals,

Inc.*

1,347

21,768

Organogenesis

Holdings,

Inc.,

Class

A*

5,633

17,012

ORIC

Pharmaceuticals,

Inc.*

2,990

33,488

PepGen,

Inc.*

882

10,081

Perspective

Therapeutics,

Inc.*

1,408

19,149

Poseida

Therapeutics,

Inc.,

Class

A*

3,873

13,672

Praxis

Precision

Medicines,

Inc.*

358

20,660

Prime

Medicine,

Inc.*

5,671

31,814

ProKidney

Corp.,

Class

A*

6,464

15,126

Protagonist

Therapeutics,

Inc.*

1,739

65,108

Prothena

Corp.

plc*

532

12,385

PTC

Therapeutics,

Inc.*

2,438

82,526

Puma

Biotechnology,

Inc.*

4,496

16,118

Pyxis

Oncology,

Inc.*

4,761

18,663

Q32

Bio,

Inc.*

321

12,224

Recursion

Pharmaceuticals,

Inc.,

Class

A*

7,849

64,362

Regeneron

Pharmaceuticals,

Inc.*

6,487

7,000,706

REGENXBIO,

Inc.*

514

7,324

Relay

Therapeutics,

Inc.*

1,876

15,421

Replimune

Group,

Inc.*

1,663

16,630

REVOLUTION

Medicines,

Inc.*

4,015

183,245

Rhythm

Pharmaceuticals,

Inc.*

1,299

62,625

Rigel

Pharmaceuticals,

Inc.*

1,078

11,405

Rocket

Pharmaceuticals,

Inc.*

1,904

46,077

Sana

Biotechnology,

Inc.*

6,223

37,898

Savara,

Inc.*

6,339

29,159

Scholar

Rock

Holding

Corp.*

2,172

19,722

Solid

Biosciences,

Inc.*

2,333

20,810

SpringWorks

Therapeutics,

Inc.*

1,848

66,362

Spyre

Therapeutics,

Inc.*

1,200

33,000

Stoke

Therapeutics,

Inc.*

1,269

18,997

Summit

Therapeutics,

Inc.*

2,660

28,728

Sutro

Biopharma,

Inc.*

4,364

17,325

Syndax

Pharmaceuticals,

Inc.*

2,906

65,966

Common

Stocks

Shares

Value

($)

Biotechnology

Taysha

Gene

Therapies,

Inc.*

6,383

14,106

Tenaya

Therapeutics,

Inc.*

4,663

16,320

TG

Therapeutics,

Inc.*

4,448

87,892

Tourmaline

Bio,

Inc.

1,102

18,602

Travere

Therapeutics,

Inc.*

1,514

14,444

Twist

Bioscience

Corp.*

1,813

101,184

Tyra

Biosciences,

Inc.*

1,087

24,088

Vaxcyte,

Inc.*

2,902

228,939

Vera

Therapeutics,

Inc.,

Class

A*

1,083

39,627

Veracyte,

Inc.*

3,206

76,944

Vericel

Corp.*

1,927

97,352

Vertex

Pharmaceuticals,

Inc.*

18,649

9,244,682

Verve

Therapeutics,

Inc.*

1,127

7,889

Viridian

Therapeutics,

Inc.*

196

3,303

Voyager

Therapeutics,

Inc.*

1,797

16,514

Xencor,

Inc.*

2,867

58,544

Zentalis

Pharmaceuticals,

Inc.*

1,875

7,294

103,526,015

Broadline

Retail

3

.2

%

Amazon.com,

Inc.*

566,009

105,832,363

ContextLogic,

Inc.,

Class

A*

2,343

12,652

Groupon,

Inc.,

Class

A*

934

12,441

105,857,456

Building

Products

1

.0

%

Allegion

plc

72,600

9,932,406

American

Woodmark

Corp.*

268

27,376

Apogee

Enterprises,

Inc.

1,301

89,301

AZZ,

Inc.

936

74,843

Builders

FirstSource,

Inc.*

58,203

9,741,436

Carrier

Global

Corp.

81,082

5,522,495

CSW

Industrials,

Inc.

454

147,287

Fortune

Brands

Innovations,

Inc.

11,313

914,203

Gibraltar

Industries,

Inc.*

876

65,060

Griffon

Corp.

1,878

135,329

Janus

International

Group,

Inc.*

4,193

60,463

Masterbrand,

Inc.*

4,098

73,969

Quanex

Building

Products

Corp.

170

5,678

Resideo

Technologies,

Inc.*

3,015

68,501

Tecnoglass,

Inc.

563

30,295

Trane

Technologies

plc

19,460

6,505,089

UFP

Industries,

Inc.

2,266

298,953

Zurn

Elkay

Water

Solutions

Corp.

3,327

107,994

33,800,678

Capital

Markets

2

.3

%

Artisan

Partners

Asset

Management,

Inc.,

Class

A

2,952

130,360

B.

Riley

Financial,

Inc.

1,162

22,310

BGC

Group,

Inc.,

Class

A

7,933

73,063

BlackRock,

Inc.

5,676

4,975,014

Brightsphere

Investment

Group,

Inc.

323

8,459

Cohen

&

Steers,

Inc.

662

56,813

Diamond

Hill

Investment

Group,

Inc.

315

50,154

44

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

Common

Stocks

Shares

Value

($)

Capital

Markets

Donnelley

Financial

Solutions,

Inc.*

993

67,008

Forge

Global

Holdings,

Inc.*

10,203

14,794

Goldman

Sachs

Group,

Inc.

(The)

18,649

9,492,900

Hamilton

Lane,

Inc.,

Class

A

894

129,067

Intercontinental

Exchange,

Inc.

60,811

9,216,515

KKR

&

Co.,

Inc.

68,108

8,407,933

Moelis

&

Co.,

Class

A

1,899

129,132

Moody's

Corp.

10,541

4,811,756

MSCI,

Inc.,

Class

A

14,601

7,895,637

Nasdaq,

Inc.

232,889

15,761,928

Open

Lending

Corp.*

2,110

13,293

Piper

Sandler

Cos.

649

177,359

PJT

Partners,

Inc.,

Class

A

919

122,172

S&P

Global,

Inc.

24,324

11,790,573

Silvercrest

Asset

Management

Group,

Inc.,

Class

A

814

14,432

StepStone

Group,

Inc.,

Class

A

859

43,173

StoneX

Group,

Inc.*

431

35,920

Tradeweb

Markets,

Inc.,

Class

A

16,162

1,804,972

Victory

Capital

Holdings,

Inc.,

Class

A

1,885

98,755

Virtus

Investment

Partners,

Inc.

353

79,778

WisdomTree,

Inc.

4,134

49,360

75,472,630

Chemicals

1

.8

%

Albemarle

Corp.

4,040

378,427

Arcadium

Lithium

plc*

27,199

86,493

Ashland,

Inc.

3,232

312,373

ASP

Isotopes,

Inc.*

5,953

15,775

Aspen

Aerogels,

Inc.*

593

12,103

Avient

Corp.

2,209

99,935

Balchem

Corp.

1,096

194,496

Cabot

Corp.

2,017

202,285

Celanese

Corp.,

Class

A(a)

61,175

8,634,851

Ecolab,

Inc.

15,850

3,656,437

Ecovyst,

Inc.*

2,468

23,545

Element

Solutions,

Inc.

78,121

2,105,361

Hawkins,

Inc.

730

75,847

HB

Fuller

Co.

1,361

117,318

Ingevity

Corp.*

915

41,989

Innospec,

Inc.

1,010

132,451

Koppers

Holdings,

Inc.

509

20,721

Linde

plc

57,859

26,239,057

Mativ

Holdings,

Inc.

2,425

46,293

Minerals

Technologies,

Inc.

1,426

111,770

Orion

SA

2,904

71,497

Perimeter

Solutions

SA*

2,867

27,781

PureCycle

Technologies,

Inc.*

2,959

22,814

Quaker

Chemical

Corp.

536

97,322

Rayonier

Advanced

Materials,

Inc.*

2,668

17,742

Sensient

Technologies

Corp.

1,345

104,977

Sherwin-Williams

Co.

(The)

48,878

17,146,402

Stepan

Co.

244

20,650

Tronox

Holdings

plc

1,269

20,507

60,037,219

Common

Stocks

Shares

Value

($)

Commercial

Services

&

Supplies

0

.2

%

ABM

Industries,

Inc.

2,388

132,677

ACCO

Brands

Corp.

1,403

7,169

ACV

Auctions,

Inc.,

Class

A*

2,417

41,282

Brink's

Co.

(The)

1,899

208,871

Casella

Waste

Systems,

Inc.,

Class

A*

1,285

133,075

Cimpress

plc*

837

76,393

CompX

International,

Inc.

464

11,897

CoreCivic,

Inc.*

3,104

43,270

Deluxe

Corp.

2,989

72,872

Ennis,

Inc.

1,972

47,012

GEO

Group,

Inc.

(The)*

3,817

55,346

HNI

Corp.

2,043

112,263

Interface,

Inc.,

Class

A

4,328

74,788

MillerKnoll,

Inc.

2,635

81,738

Montrose

Environmental

Group,

Inc.*

671

21,398

OPENLANE,

Inc.*

1,911

34,169

Pitney

Bowes,

Inc.

6,212

40,999

Quad/Graphics,

Inc.

2,972

13,582

Republic

Services,

Inc.,

Class

A

12,978

2,521,885

Steelcase,

Inc.,

Class

A

5,026

72,827

UniFirst

Corp.

446

86,765

Waste

Connections,

Inc.

19,132

3,401,096

7,291,374

Communications

Equipment

0

.9

%

ADTRAN

Holdings,

Inc.

4,361

29,524

Applied

Optoelectronics,

Inc.*

1,810

17,285

Aviat

Networks,

Inc.*

507

15,717

Calix,

Inc.*

1,293

53,181

Cisco

Systems,

Inc.

442,355

21,432,100

CommScope

Holding

Co.,

Inc.*

3,491

9,042

Digi

International,

Inc.*

2,283

62,326

Extreme

Networks,

Inc.*

3,316

47,419

Harmonic,

Inc.*

1,180

17,299

Infinera

Corp.*

4,406

26,172

Motorola

Solutions,

Inc.

17,838

7,115,935

NETGEAR,

Inc.*

964

15,308

NetScout

Systems,

Inc.*

2,775

56,471

Ribbon

Communications,

Inc.*

4,317

14,635

Viasat,

Inc.*

4,101

82,922

Viavi

Solutions,

Inc.*

3,777

30,367

29,025,703

Construction

&

Engineering

0

.0

%

†

Ameresco,

Inc.,

Class

A*

1,355

42,777

Arcosa,

Inc.

1,709

158,783

Argan,

Inc.

828

65,354

Concrete

Pumping

Holdings,

Inc.*

6,254

41,714

Construction

Partners,

Inc.,

Class

A*

980

63,357

Dycom

Industries,

Inc.*

870

159,654

Fluor

Corp.*

3,687

177,345

Granite

Construction,

Inc.

1,027

70,309

IES

Holdings,

Inc.*

366

56,353

Limbach

Holdings,

Inc.*

216

13,764

MYR

Group,

Inc.*

315

44,251

Northwest

Pipe

Co.*

481

18,350

Primoris

Services

Corp.

2,107

118,982

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

45

Common

Stocks

Shares

Value

($)

Construction

&

Engineering

Sterling

Infrastructure,

Inc.*

1,078

125,436

Tutor

Perini

Corp.*

669

16,651

1,173,080

Construction

Materials

0

.1

%

Knife

River

Corp.*

1,436

114,191

Martin

Marietta

Materials,

Inc.

5,580

3,310,893

Smith-Midland

Corp.*

525

18,228

Summit

Materials,

Inc.,

Class

A*

2,745

114,686

United

States

Lime

&

Minerals,

Inc.

613

52,135

3,610,133

Consumer

Finance

0

.5

%

American

Express

Co.

63,076

15,960,751

Bread

Financial

Holdings,

Inc.

2,166

118,220

Enova

International,

Inc.*

538

46,521

FirstCash

Holdings,

Inc.

974

108,698

LendingTree,

Inc.*

581

30,921

Moneylion,

Inc.*

398

27,430

Navient

Corp.

4,651

76,323

Nelnet,

Inc.,

Class

A

767

86,449

PRA

Group,

Inc.*

715

19,055

PROG

Holdings,

Inc.

1,650

74,349

Regional

Management

Corp.

494

16,154

Upstart

Holdings,

Inc.*

2,527

70,579

16,635,450

Consumer

Staples

Distribution

&

Retail

1

.2

%

Andersons,

Inc.

(The)

1,599

87,194

Chefs'

Warehouse,

Inc.

(The)*

997

41,465

Costco

Wholesale

Corp.

22,893

18,818,046

Dollar

Tree,

Inc.*

68,108

7,106,389

Ingles

Markets,

Inc.,

Class

A

87

7,051

Performance

Food

Group

Co.*

99,772

6,884,268

PriceSmart,

Inc.

1,103

100,737

Sprouts

Farmers

Market,

Inc.*

2,830

282,689

United

Natural

Foods,

Inc.*

794

12,307

Village

Super

Market,

Inc.,

Class

A

1,140

36,115

Walmart,

Inc.

110,297

7,570,786

Weis

Markets,

Inc.

225

16,976

40,964,023

Containers

&

Packaging

0

.5

%

Avery

Dennison

Corp.

62,353

13,520,001

Crown

Holdings,

Inc.

13,737

1,218,472

Greif,

Inc.,

Class

A

405

27,006

Myers

Industries,

Inc.

866

12,903

O-I

Glass,

Inc.*

6,303

84,208

Pactiv

Evergreen,

Inc.

921

12,102

Ranpak

Holdings

Corp.,

Class

A*

1,138

8,216

TriMas

Corp.

2,243

55,133

14,938,041

Distributors

0

.0

%

†

GigaCloud

Technology,

Inc.,

Class

A*

903

26,575

Weyco

Group,

Inc.

477

16,605

43,180

Common

Stocks

Shares

Value

($)

Diversified

Consumer

Services

0

.0

%

†

Adtalem

Global

Education,

Inc.*

1,564

122,633

American

Public

Education,

Inc.*

814

16,247

Carriage

Services,

Inc.,

Class

A

1,049

33,631

Chegg,

Inc.*

498

1,698

Frontdoor,

Inc.*

2,549

100,584

Graham

Holdings

Co.,

Class

B

138

106,929

Laureate

Education,

Inc.

4,583

71,037

OneSpaWorld

Holdings

Ltd.*

4,219

67,884

Perdoceo

Education

Corp.

2,599

64,429

Strategic

Education,

Inc.

837

88,220

Stride,

Inc.*

776

58,960

732,252

Diversified

REITs

0

.0

%

†

Alexander

&

Baldwin,

Inc.

3,419

67,389

American

Assets

Trust,

Inc.

2,870

76,112

Broadstone

Net

Lease,

Inc.

5,856

101,953

Empire

State

Realty

Trust,

Inc.,

Class

A

4,975

53,581

Essential

Properties

Realty

Trust,

Inc.

5,507

162,952

One

Liberty

Properties,

Inc.

1,579

41,670

503,657

Diversified

Telecommunication

Services

1

.1

%

Anterix,

Inc.*

390

15,701

AST

SpaceMobile,

Inc.,

Class

A*

3,704

76,599

AT&T,

Inc.

1,375,285

26,474,236

ATN

International,

Inc.

390

11,571

Cogent

Communications

Holdings,

Inc.

942

66,496

IDT

Corp.,

Class

B

1,313

50,196

Liberty

Latin

America

Ltd.,

Class

A*

3,532

37,015

Liberty

Latin

America

Ltd.,

Class

C*

4,749

50,340

Lumen

Technologies,

Inc.*

36,576

115,214

Shenandoah

Telecommunications

Co.

772

16,436

Verizon

Communications,

Inc.

282,975

11,466,147

38,379,951

Electric

Utilities

1

.2

%

ALLETE,

Inc.

2,135

137,707

Alliant

Energy

Corp.

27,475

1,529,259

American

Electric

Power

Co.,

Inc.

27,900

2,737,548

Constellation

Energy

Corp.

12,754

2,420,709

Duke

Energy

Corp.

35,590

3,888,919

Entergy

Corp.(a)

94,365

10,943,509

FirstEnergy

Corp.

46,060

1,930,375

Genie

Energy

Ltd.,

Class

B

579

9,820

Hawaiian

Electric

Industries,

Inc.

3,377

55,923

MGE

Energy,

Inc.

990

86,962

NextEra

Energy,

Inc.

72,163

5,512,532

Otter

Tail

Corp.

1,376

133,362

PG&E

Corp.

112,323

2,049,895

PNM

Resources,

Inc.

1,902

79,085

46

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

Common

Stocks

Shares

Value

($)

Electric

Utilities

Portland

General

Electric

Co.

2,421

114,707

Xcel

Energy,

Inc.

132,091

7,698,263

39,328,575

Electrical

Equipment

1

.1

%

American

Superconductor

Corp.*

593

14,327

Array

Technologies,

Inc.*

5,696

59,922

Atkore,

Inc.

1,213

163,755

Blink

Charging

Co.*

4,754

15,641

Bloom

Energy

Corp.,

Class

A*

5,654

76,555

ChargePoint

Holdings,

Inc.*

19,695

42,738

Eaton

Corp.

plc

29,189

8,896,515

EnerSys

1,415

155,551

Enovix

Corp.*

5,243

75,552

Fluence

Energy,

Inc.*

1,412

23,129

Freyr

Battery,

Inc.*

8,945

16,101

FuelCell

Energy,

Inc.*

36,195

18,329

GE

Vernova,

Inc.*

64,462

11,489,707

LSI

Industries,

Inc.

1,053

17,964

NEXTracker,

Inc.,

Class

A*

2,722

133,759

NuScale

Power

Corp.,

Class

A*

1,051

10,741

nVent

Electric

plc

88,379

6,418,967

Plug

Power,

Inc.*

20,534

50,719

Powell

Industries,

Inc.

235

43,153

Rockwell

Automation,

Inc.

32,339

9,011,262

Shoals

Technologies

Group,

Inc.,

Class

A*

6,377

41,451

Stem,

Inc.*

4,302

5,248

SunPower

Corp.*

21,848

18,647

Sunrun,

Inc.*

7,001

122,728

TPI

Composites,

Inc.*

3,508

14,944

36,937,405

Electronic

Equipment,

Instruments

&

Components

0

.6

%

Advanced

Energy

Industries,

Inc.

967

112,530

Amphenol

Corp.,

Class

A

107,028

6,877,619

Arlo

Technologies,

Inc.*

2,425

36,763

Badger

Meter,

Inc.

1,026

211,520

Bel

Fuse,

Inc.,

Class

A

514

48,187

Belden,

Inc.

1,616

149,787

Benchmark

Electronics,

Inc.

1,740

83,294

CDW

Corp.

56,264

12,271,741

CTS

Corp.

1,426

69,703

Daktronics,

Inc.*

1,077

16,133

ePlus,

Inc.*

1,181

108,558

Evolv

Technologies

Holdings,

Inc.*

4,447

15,431

Fabrinet*

1,062

234,235

Insight

Enterprises,

Inc.*

948

212,826

Itron,

Inc.*

1,298

134,265

Knowles

Corp.*

716

13,081

Mirion

Technologies,

Inc.,

Class

A*

2,848

30,018

Napco

Security

Technologies,

Inc.

1,134

63,289

Novanta,

Inc.*

1,175

212,886

OSI

Systems,

Inc.*

253

37,439

Ouster,

Inc.*

1,495

19,629

PAR

Technology

Corp.*

458

23,193

PC

Connection,

Inc.

866

61,980

Common

Stocks

Shares

Value

($)

Electronic

Equipment,

Instruments

&

Components

Plexus

Corp.*

999

128,042

Rogers

Corp.*

587

71,720

Sanmina

Corp.*

1,193

89,869

ScanSource,

Inc.*

1,228

63,917

TTM

Technologies,

Inc.*

1,265

24,516

Vishay

Intertechnology,

Inc.

2,450

59,559

Vishay

Precision

Group,

Inc.*

1,064

36,485

21,518,215

Energy

Equipment

&

Services

0

.2

%

Archrock,

Inc.

5,027

104,210

Atlas

Energy

Solutions,

Inc.,

Class

A

702

14,910

Borr

Drilling

Ltd.

6,989

47,875

Cactus,

Inc.,

Class

A

2,115

133,499

ChampionX

Corp.

7,434

254,689

Core

Laboratories,

Inc.

405

9,918

Diamond

Offshore

Drilling,

Inc.*

2,287

37,553

DMC

Global,

Inc.*

1,002

13,527

Dril-Quip,

Inc.*

380

6,582

Expro

Group

Holdings

NV*

1,755

40,751

Helix

Energy

Solutions

Group,

Inc.*

3,129

36,922

Helmerich

&

Payne,

Inc.

3,616

146,159

Liberty

Energy,

Inc.,

Class

A

6,729

162,505

Nabors

Industries

Ltd.*

478

49,153

Newpark

Resources,

Inc.*

4,050

33,453

Noble

Corp.

plc

3,013

142,274

Oceaneering

International,

Inc.*

3,484

104,590

Patterson-UTI

Energy,

Inc.

10,615

116,659

ProPetro

Holding

Corp.*

5,568

53,397

Ranger

Energy

Services,

Inc.,

Class

A

2,726

35,356

RPC,

Inc.

4,760

35,557

Schlumberger

NV

100,541

4,855,125

Seadrill

Ltd.*

1,947

107,104

Select

Water

Solutions,

Inc.,

Class

A

6,003

70,955

Solaris

Oilfield

Infrastructure,

Inc.,

Class

A

3,671

48,274

Tidewater,

Inc.*

1,100

108,856

Transocean

Ltd.*

16,624

96,253

US

Silica

Holdings,

Inc.*

680

10,533

Valaris

Ltd.*

1,334

104,839

6,981,478

Entertainment

0

.8

%

AMC

Entertainment

Holdings,

Inc.,

Class

A*

7,840

41,630

Atlanta

Braves

Holdings,

Inc.,

Class

C*

929

40,346

Cinemark

Holdings,

Inc.*

3,893

91,797

Electronic

Arts,

Inc.

82,850

12,505,379

IMAX

Corp.*

765

16,142

Lions

Gate

Entertainment

Corp.,

Class

B*

7,441

61,314

LiveOne,

Inc.*

9,745

16,567

Madison

Square

Garden

Entertainment

Corp.,

Class

A*

1,828

72,188

Marcus

Corp.

(The)

729

9,178

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

47

Common

Stocks

Shares

Value

($)

Entertainment

Netflix,

Inc.*

17,027

10,698,915

Playstudios,

Inc.*

13,617

29,549

TKO

Group

Holdings,

Inc.,

Class

A

23,914

2,614,996

Vivid

Seats,

Inc.,

Class

A*

2,722

13,283

26,211,284

Financial

Services

3

.7

%

Alerus

Financial

Corp.

720

16,164

Apollo

Global

Management,

Inc.

31,886

3,995,635

AvidXchange

Holdings,

Inc.*

2,050

18,327

Banco

Latinoamericano

de

Comercio

Exterior

SA,

Class

E

233

7,533

Berkshire

Hathaway,

Inc.,

Class

B*

42,381

18,584,068

Burford

Capital

Ltd.

3,317

46,803

Cannae

Holdings,

Inc.

1,538

30,929

Cass

Information

Systems,

Inc.

358

15,373

Compass

Diversified

Holdings

554

13,329

Corpay,

Inc.*

28,181

8,223,779

Enact

Holdings,

Inc.

2,213

75,308

Essent

Group

Ltd.

4,023

252,805

EVERTEC,

Inc.

1,928

66,458

Federal

Agricultural

Mortgage

Corp.,

Class

C

310

63,928

Fidelity

National

Information

Services,

Inc.

110,059

8,455,833

Fiserv,

Inc.*

132,048

21,599,091

Flywire

Corp.*

2,745

50,261

HA

Sustainable

Infrastructure

Capital,

Inc.

3,114

102,046

International

Money

Express,

Inc.*

2,089

46,397

Jackson

Financial,

Inc.,

Class

A

2,207

194,348

Marqeta,

Inc.,

Class

A*

12,392

66,793

Mastercard,

Inc.,

Class

A

80,291

37,231,740

Mr.

Cooper

Group,

Inc.*

1,492

134,101

NCR

Atleos

Corp.*

1,941

62,403

NMI

Holdings,

Inc.,

Class

A*

3,698

145,516

Pagseguro

Digital

Ltd.,

Class

A*

7,373

94,227

Payoneer

Global,

Inc.*

6,588

36,432

Paysafe

Ltd.*

1,331

27,938

PennyMac

Financial

Services,

Inc.

806

79,085

Radian

Group,

Inc.

6,321

234,509

Remitly

Global,

Inc.*

2,160

28,534

Repay

Holdings

Corp.,

Class

A*

3,157

30,370

Sezzle,

Inc.*

164

14,343

StoneCo

Ltd.,

Class

A*

7,591

99,594

Visa,

Inc.,

Class

A(a)

85,061

22,598,156

Walker

&

Dunlop,

Inc.

1,153

123,256

122,865,412

Food

Products

0

.7

%

B&G

Foods,

Inc.

4,601

39,661

Beyond

Meat,

Inc.*

2,471

15,518

Common

Stocks

Shares

Value

($)

Food

Products

Cal-Maine

Foods,

Inc.

1,668

119,379

Dole

plc

3,691

54,811

Fresh

Del

Monte

Produce,

Inc.

1,268

31,763

Hain

Celestial

Group,

Inc.

(The)*

3,746

28,994

J

&

J

Snack

Foods

Corp.

315

53,140

John

B

Sanfilippo

&

Son,

Inc.

573

60,091

Kraft

Heinz

Co.

(The)

255,838

9,008,056

Lancaster

Colony

Corp.

661

127,613

Lifeway

Foods,

Inc.*

1,115

13,748

Mondelez

International,

Inc.,

Class

A

75,742

5,176,966

Nestle

SA,

ADR

46,216

4,667,354

Simply

Good

Foods

Co.

(The)*

41,026

1,391,602

TreeHouse

Foods,

Inc.*

591

23,805

Utz

Brands,

Inc.

147,559

2,189,776

Vital

Farms,

Inc.*

368

13,428

WK

Kellogg

Co.

3,459

60,878

23,076,583

Gas

Utilities

0

.0

%

†

Brookfield

Infrastructure

Corp.,

Class

A

3,471

135,022

Chesapeake

Utilities

Corp.

319

37,652

New

Jersey

Resources

Corp.

3,676

171,853

Northwest

Natural

Holding

Co.

298

11,914

ONE

Gas,

Inc.

1,275

88,778

Southwest

Gas

Holdings,

Inc.

2,297

170,345

Spire,

Inc.

2,049

136,443

752,007

Ground

Transportation

1

.2

%

ArcBest

Corp.

834

105,126

CSX

Corp.

98,049

3,441,520

FTAI

Infrastructure,

Inc.

471

4,856

Hertz

Global

Holdings,

Inc.*

8,054

32,860

Marten

Transport

Ltd.

741

13,938

Old

Dominion

Freight

Line,

Inc.

38,655

8,124,508

RXO,

Inc.*

2,893

91,737

Saia,

Inc.*(a)

28,385

11,860,672

Uber

Technologies,

Inc.*

163,172

10,519,699

Union

Pacific

Corp.

25,946

6,401,657

Universal

Logistics

Holdings,

Inc.

856

36,834

Werner

Enterprises,

Inc.

2,364

92,645

40,726,052

Health

Care

Equipment

&

Supplies

1

.8

%

Align

Technology,

Inc.*

34,461

7,990,817

AngioDynamics,

Inc.*

4,974

38,996

Artivion,

Inc.*

1,029

27,937

AtriCure,

Inc.*

1,816

39,171

Atrion

Corp.

102

46,747

Avanos

Medical,

Inc.*

1,933

46,237

Axonics,

Inc.*

997

68,275

Bioventus,

Inc.,

Class

A*

2,370

16,614

Boston

Scientific

Corp.*

160,541

11,860,769

Cerus

Corp.*

6,758

15,273

CONMED

Corp.

1,377

95,068

Cooper

Cos.,

Inc.

(The)

76,217

7,113,333

Dexcom,

Inc.*

39,857

2,703,102

Embecta

Corp.

2,602

40,773

Glaukos

Corp.*

1,207

141,424

48

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

Common

Stocks

Shares

Value

($)

Health

Care

Equipment

&

Supplies

Haemonetics

Corp.*

1,304

117,425

ICU

Medical,

Inc.*

724

91,934

Inari

Medical,

Inc.*

1,107

51,542

Inmode

Ltd.*

2,390

43,307

Inogen,

Inc.*

1,638

15,151

Integer

Holdings

Corp.*

956

113,535

Integra

LifeSciences

Holdings

Corp.*

2,437

60,462

iRadimed

Corp.

773

36,107

iRhythm

Technologies,

Inc.*

779

67,189

Lantheus

Holdings,

Inc.*

1,937

203,056

LeMaitre

Vascular,

Inc.

1,020

88,628

LivaNova

plc*

1,882

92,971

Medtronic

plc

141,893

11,396,846

Merit

Medical

Systems,

Inc.*

1,369

116,762

Neogen

Corp.*

4,611

78,525

Novocure

Ltd.*

3,446

78,465

Omnicell,

Inc.*

718

20,973

OraSure

Technologies,

Inc.*

791

3,544

OrthoPediatrics

Corp.*

485

14,928

Paragon

28,

Inc.*

679

5,289

PROCEPT

BioRobotics

Corp.*

1,042

65,979

Pulse

Biosciences,

Inc.*

1,007

15,065

RxSight,

Inc.*

925

42,337

Semler

Scientific,

Inc.*

387

12,829

Silk

Road

Medical,

Inc.*

1,042

28,144

STAAR

Surgical

Co.*

1,425

58,781

Surmodics,

Inc.*

709

29,353

Tactile

Systems

Technology,

Inc.*

535

6,832

Tandem

Diabetes

Care,

Inc.*

2,191

81,023

TransMedics

Group,

Inc.*

851

121,063

Treace

Medical

Concepts,

Inc.*

2,492

18,017

UFP

Technologies,

Inc.*

280

90,045

Utah

Medical

Products,

Inc.

570

39,672

Zimmer

Biomet

Holdings,

Inc.

145,655

16,218,684

Zimvie,

Inc.*

993

20,992

Zynex,

Inc.*

1,912

17,208

59,807,199

Health

Care

Providers

&

Services

2

.2

%

Accolade,

Inc.*

2,943

12,066

AdaptHealth

Corp.,

Class

A*

4,837

54,948

Addus

HomeCare

Corp.*

642

77,913

agilon

health,

Inc.*

9,477

65,297

Alignment

Healthcare,

Inc.*

1,792

15,662

AMN

Healthcare

Services,

Inc.*

1,155

78,101

Astrana

Health,

Inc.*

1,399

73,392

Aveanna

Healthcare

Holdings,

Inc.*

3,548

14,937

Brookdale

Senior

Living,

Inc.*

3,706

28,647

Cencora,

Inc.

43,462

10,338,741

Community

Health

Systems,

Inc.*

5,809

30,555

CorVel

Corp.*

401

123,027

Cross

Country

Healthcare,

Inc.*

758

13,826

CVS

Health

Corp.

67,078

4,046,816

Elevance

Health,

Inc.

17,838

9,490,351

Enhabit,

Inc.*

3,097

31,713

Common

Stocks

Shares

Value

($)

Health

Care

Providers

&

Services

Ensign

Group,

Inc.

(The)

1,751

246,453

Guardant

Health,

Inc.*

3,823

134,302

HCA

Healthcare,

Inc.

13,992

5,079,796

HealthEquity,

Inc.*

2,141

168,026

Hims

&

Hers

Health,

Inc.*

5,763

122,406

Humana,

Inc.

37,429

13,534,701

Invitae

Corp.*

11,005

4

McKesson

Corp.

6,377

3,934,737

ModivCare,

Inc.*

372

8,489

Molina

Healthcare,

Inc.*

14,883

5,079,121

National

HealthCare

Corp.

675

91,908

National

Research

Corp.

1,027

26,178

NeoGenomics,

Inc.*

2,646

46,914

Option

Care

Health,

Inc.*

5,550

164,779

Owens

&

Minor,

Inc.*

3,116

51,165

Patterson

Cos.,

Inc.

1,398

35,299

Pennant

Group,

Inc.

(The)*

217

6,469

PetIQ,

Inc.,

Class

A*

1,009

22,077

Privia

Health

Group,

Inc.*

1,996

41,397

Progyny,

Inc.*

2,187

61,673

Quest

Diagnostics,

Inc.

19,132

2,722,484

RadNet,

Inc.*

1,466

87,593

Select

Medical

Holdings

Corp.

4,393

174,666

Surgery

Partners,

Inc.*

2,850

86,526

UnitedHealth

Group,

Inc.

29,276

16,867,660

US

Physical

Therapy,

Inc.

705

68,738

Viemed

Healthcare,

Inc.*

1,658

11,954

73,371,507

Health

Care

REITs

0

.3

%

Alexandria

Real

Estate

Equities,

Inc.

77,136

9,047,281

CareTrust

REIT,

Inc.

3,203

86,353

Diversified

Healthcare

Trust

10,720

35,805

LTC

Properties,

Inc.

897

32,032

National

Health

Investors,

Inc.

1,909

142,908

Sabra

Health

Care

REIT,

Inc.

9,357

151,864

Universal

Health

Realty

Income

Trust

448

19,152

9,515,395

Health

Care

Technology

0

.1

%

Definitive

Healthcare

Corp.,

Class

A*

1,632

6,365

Evolent

Health,

Inc.,

Class

A*

2,516

58,673

Health

Catalyst,

Inc.*

2,017

14,865

HealthStream,

Inc.

1,744

51,814

Phreesia,

Inc.*

2,007

50,075

Schrodinger,

Inc.*

1,001

22,302

Simulations

Plus,

Inc.

402

16,418

Teladoc

Health,

Inc.*

4,476

42,209

Waystar

Holding

Corp.*

121,167

2,786,841

3,049,562

Hotel

&

Resort

REITs

0

.0

%

†

Apple

Hospitality

REIT,

Inc.

9,030

133,554

Braemar

Hotels

&

Resorts,

Inc.

5,716

20,292

DiamondRock

Hospitality

Co.

5,175

42,590

RLJ

Lodging

Trust

6,357

60,010

Ryman

Hospitality

Properties,

Inc.

2,240

225,142

Service

Properties

Trust

3,614

20,491

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

49

Common

Stocks

Shares

Value

($)

Hotel

&

Resort

REITs

Xenia

Hotels

&

Resorts,

Inc.

4,788

66,458

568,537

Hotels,

Restaurants

&

Leisure

1

.8

%

Accel

Entertainment,

Inc.,

Class

A*

2,090

25,498

Bally's

Corp.*

1,443

24,863

BJ's

Restaurants,

Inc.*

829

26,180

Bloomin'

Brands,

Inc.

1,515

31,588

Booking

Holdings,

Inc.

1,622

6,025,746

Brinker

International,

Inc.*

1,424

95,138

Carnival

Corp.*

504,327

8,402,088

Cheesecake

Factory,

Inc.

(The)

2,325

90,419

Chuy's

Holdings,

Inc.*

707

26,223

Cracker

Barrel

Old

Country

Store,

Inc.

922

42,255

Dave

&

Buster's

Entertainment,

Inc.*

1,599

60,138

Dine

Brands

Global,

Inc.

171

6,129

Domino's

Pizza,

Inc.

22,478

9,636,319

DraftKings,

Inc.,

Class

A*

74,932

2,768,737

El

Pollo

Loco

Holdings,

Inc.*

2,590

31,235

Everi

Holdings,

Inc.*

1,213

15,611

First

Watch

Restaurant

Group,

Inc.*

1,588

25,837

Hilton

Grand

Vacations,

Inc.*

1,899

82,056

International

Game

Technology

plc

3,222

75,620

Kura

Sushi

USA,

Inc.,

Class

A*

45

2,587

Las

Vegas

Sands

Corp.

134,595

5,339,384

Life

Time

Group

Holdings,

Inc.*

748

15,536

Lindblad

Expeditions

Holdings,

Inc.*

4,334

37,316

McDonald's

Corp.

63,156

16,761,602

Monarch

Casino

&

Resort,

Inc.

215

16,830

Papa

John's

International,

Inc.

353

15,613

PlayAGS,

Inc.*

2,851

32,644

Red

Rock

Resorts,

Inc.,

Class

A

1,501

85,557

Rush

Street

Interactive,

Inc.*

3,510

35,135

Sabre

Corp.*

14,287

49,004

Shake

Shack,

Inc.,

Class

A*

1,441

126,261

Six

Flags

Entertainment

Corp.

1,459

69,492

Soho

House

&

Co.,

Inc.,

Class

A*

172,120

862,321

Super

Group

SGHC

Ltd.

3,922

15,021

Sweetgreen,

Inc.,

Class

A*

3,256

89,475

United

Parks

&

Resorts,

Inc.*

1,672

88,031

Xponential

Fitness,

Inc.,

Class

A*

1,205

20,690

Yum!

Brands,

Inc.

73,219

9,725,680

60,879,859

Household

Durables

0

.6

%

Beazer

Homes

USA,

Inc.*

449

15,118

Cavco

Industries,

Inc.*

327

135,581

Century

Communities,

Inc.

1,013

106,071

Dream

Finders

Homes,

Inc.,

Class

A*

1,008

31,802

Green

Brick

Partners,

Inc.*

847

61,958

Helen

of

Troy

Ltd.*

96

5,675

Common

Stocks

Shares

Value

($)

Household

Durables

Hovnanian

Enterprises,

Inc.,

Class

A*

338

70,943

Installed

Building

Products,

Inc.

770

208,170

KB

Home

2,799

240,938

La-Z-Boy,

Inc.

853

37,651

Lennar

Corp.,

Class

A

95,606

16,915,570

LGI

Homes,

Inc.*

336

38,664

M/I

Homes,

Inc.*

952

158,822

Meritage

Homes

Corp.

1,258

255,210

Skyline

Champion

Corp.*

1,095

89,253

Sonos,

Inc.*

771

10,408

Taylor

Morrison

Home

Corp.,

Class

A*

3,580

240,146

Toll

Brothers,

Inc.

7,273

1,037,930

Tri

Pointe

Homes,

Inc.*

3,582

162,086

Worthington

Enterprises,

Inc.

354

17,668

19,839,664

Household

Products

1

.6

%

Central

Garden

&

Pet

Co.,

Class

A*

1,272

43,706

Colgate-Palmolive

Co.

187,682

18,616,178

Energizer

Holdings,

Inc.

2,794

86,027

Oil-Dri

Corp.

of

America

228

14,843

Procter

&

Gamble

Co.

(The)(a)

217,106

34,901,961

WD-40

Co.

373

97,580

53,760,295

Independent

Power

and

Renewable

Electricity

Producers

0

.3

%

Montauk

Renewables,

Inc.*

4,574

27,170

NextEra

Energy

Partners

LP

3,232

82,578

Ormat

Technologies,

Inc.

1,404

109,006

Sunnova

Energy

International,

Inc.*

4,448

31,447

Vistra

Corp.

119,521

9,468,454

9,718,655

Industrial

Conglomerates

0

.7

%

3M

Co.

89,701

11,441,363

Brookfield

Business

Corp.,

Class

A

938

21,152

Honeywell

International,

Inc.

59,503

12,183,239

23,645,754

Industrial

REITs

0

.3

%

Industrial

Logistics

Properties

Trust

7,874

40,472

Innovative

Industrial

Properties,

Inc.

1,216

149,337

LXP

Industrial

Trust

6,128

63,119

Plymouth

Industrial

REIT,

Inc.

1,444

34,541

Prologis,

Inc.

84,325

10,629,166

Terreno

Realty

Corp.

1,935

132,373

11,049,008

Insurance

3

.5

%

Allstate

Corp.

(The)

38,108

6,521,041

Ambac

Financial

Group,

Inc.*

1,121

14,786

American

Financial

Group,

Inc.

71,536

9,368,355

American

International

Group,

Inc.

176,758

14,004,536

AMERISAFE,

Inc.

244

11,585

50

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

Common

Stocks

Shares

Value

($)

Insurance

Aon

plc,

Class

A

65,676

21,575,223

Arch

Capital

Group

Ltd.*

109,339

10,472,489

Assurant,

Inc.

19,132

3,345,613

Baldwin

Insurance

Group,

Inc.

(The),

Class

A*

1,513

66,179

CNO

Financial

Group,

Inc.

4,511

157,253

Crawford

&

Co.,

Class

A

1,724

16,878

Employers

Holdings,

Inc.

1,684

80,849

Enstar

Group

Ltd.*

427

138,519

F&G

Annuities

&

Life,

Inc.

731

31,528

Fidelis

Insurance

Holdings

Ltd.

1,807

32,146

Genworth

Financial,

Inc.,

Class

A*

10,715

72,541

Globe

Life,

Inc.

110,658

10,262,423

Goosehead

Insurance,

Inc.,

Class

A*

771

69,614

Hamilton

Insurance

Group

Ltd.,

Class

B*

901

15,704

HCI

Group,

Inc.

326

30,729

Hippo

Holdings,

Inc.*

1,714

30,406

Horace

Mann

Educators

Corp.

1,217

42,072

Investors

Title

Co.

175

37,247

Lemonade,

Inc.*

1,204

21,708

Marsh

&

McLennan

Cos.,

Inc.

55,661

12,388,469

MBIA,

Inc.

5,398

23,751

Mercury

General

Corp.

1,219

72,981

MetLife,

Inc.

43,843

3,369,335

Oscar

Health,

Inc.,

Class

A*

5,024

88,824

Palomar

Holdings,

Inc.*

477

43,889

Root,

Inc.,

Class

A*

270

16,262

Safety

Insurance

Group,

Inc.

188

16,083

Selective

Insurance

Group,

Inc.

1,515

136,835

SiriusPoint

Ltd.*

2,625

37,721

Skyward

Specialty

Insurance

Group,

Inc.*

128

5,065

Stewart

Information

Services

Corp.

830

58,681

Trupanion,

Inc.*

966

35,800

Universal

Insurance

Holdings,

Inc.

2,033

40,274

Unum

Group(a)

408,368

23,493,411

116,246,805

Interactive

Media

&

Services

5

.5

%

Alphabet,

Inc.,

Class

A

557,605

95,651,562

Alphabet,

Inc.,

Class

C

345,714

59,860,379

Bumble,

Inc.,

Class

A*

3,401

31,765

Cargurus,

Inc.,

Class

A*

3,320

82,402

Cars.com,

Inc.*

2,996

61,777

Match

Group,

Inc.*

66,262

2,527,233

Meta

Platforms,

Inc.,

Class

A

55,442

26,325,525

Nextdoor

Holdings,

Inc.*

5,490

15,592

Outbrain,

Inc.*

3,266

15,611

Shutterstock,

Inc.

866

38,295

Yelp,

Inc.,

Class

A*

2,735

99,636

Ziff

Davis,

Inc.*

1,647

78,858

ZipRecruiter,

Inc.,

Class

A*

2,667

24,430

184,813,065

IT

Services

1

.2

%

Accenture

plc,

Class

A(a)

68,479

22,640,527

Applied

Digital

Corp.*

4,787

23,265

Common

Stocks

Shares

Value

($)

IT

Services

ASGN,

Inc.*

1,699

160,844

Backblaze,

Inc.,

Class

A*

2,324

15,385

Core

Scientific,

Inc.*

3,901

38,035

DigitalOcean

Holdings,

Inc.*

2,699

89,418

Fastly,

Inc.,

Class

A*

1,915

15,511

Gartner,

Inc.*

4,040

2,024,808

Hackett

Group,

Inc.

(The)

1,789

48,804

Information

Services

Group,

Inc.

4,647

16,125

International

Business

Machines

Corp.

77,296

14,851,653

Perficient,

Inc.*

749

56,482

Rackspace

Technology,

Inc.*

9,256

21,659

Squarespace,

Inc.,

Class

A*

1,246

55,061

Tucows,

Inc.,

Class

A*

739

18,601

Unisys

Corp.*

904

4,303

Wix.com

Ltd.*

8,081

1,260,030

41,340,511

Leisure

Products

0

.0

%

†

Acushnet

Holdings

Corp.

1,509

109,523

Escalade,

Inc.

758

11,279

Latham

Group,

Inc.*

10,696

38,934

Malibu

Boats,

Inc.,

Class

A*

680

25,867

Peloton

Interactive,

Inc.,

Class

A*

12,825

45,657

Smith

&

Wesson

Brands,

Inc.

1,488

24,626

Topgolf

Callaway

Brands

Corp.*

2,902

47,883

Vista

Outdoor,

Inc.*

1,187

48,228

351,997

Life

Sciences

Tools

&

Services

1

.8

%

Adaptive

Biotechnologies

Corp.*

972

4,423

Agilent

Technologies,

Inc.

74,942

10,596,799

Avantor,

Inc.*

157,038

4,200,767

BioLife

Solutions,

Inc.*

909

21,834

ChromaDex

Corp.*

5,337

15,958

Codexis,

Inc.*

5,495

19,672

CryoPort,

Inc.*

975

8,999

Cytek

Biosciences,

Inc.*

3,731

25,035

Danaher

Corp.

59,068

16,366,561

Harvard

Bioscience,

Inc.*

5,030

16,096

IQVIA

Holdings,

Inc.*

15,943

3,925,645

Maravai

LifeSciences

Holdings,

Inc.,

Class

A*

2,077

20,209

Mesa

Laboratories,

Inc.

466

53,366

Mettler-Toledo

International,

Inc.*

5,583

8,491,911

Pacific

Biosciences

of

California,

Inc.*

12,200

25,132

Standard

BioTools,

Inc.*

7,985

17,886

Thermo

Fisher

Scientific,

Inc.

19,460

11,935,596

West

Pharmaceutical

Services,

Inc.

12,180

3,729,151

59,475,040

Machinery

2

.7

%

3D

Systems

Corp.*

6,749

24,634

Alamo

Group,

Inc.

281

54,154

Albany

International

Corp.,

Class

A

864

80,853

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

51

Common

Stocks

Shares

Value

($)

Machinery

Atmus

Filtration

Technologies,

Inc.

1,658

51,133

Barnes

Group,

Inc.

416

16,781

Blue

Bird

Corp.*

504

26,269

Caterpillar,

Inc.

67,843

23,487,247

Chart

Industries,

Inc.*

1,019

164,141

Columbus

McKinnon

Corp.

738

28,162

Deere

&

Co.

13,753

5,115,841

Douglas

Dynamics,

Inc.

293

8,471

Eastern

Co.

(The)

521

15,338

Enerpac

Tool

Group

Corp.,

Class

A

2,461

98,932

Enpro,

Inc.

563

96,239

ESCO

Technologies,

Inc.

637

78,326

Federal

Signal

Corp.

2,153

215,235

Fortive

Corp.

122,456

8,798,464

Franklin

Electric

Co.,

Inc.

1,683

179,442

Gorman-Rupp

Co.

(The)

1,406

58,082

Greenbrier

Cos.,

Inc.

(The)

739

37,696

Helios

Technologies,

Inc.

225

10,339

Hillenbrand,

Inc.

1,268

56,084

Hillman

Solutions

Corp.*

2,640

26,796

Hyliion

Holdings

Corp.*

3,087

6,853

Hyster-Yale,

Inc.

221

18,065

IDEX

Corp.

45,111

9,404,741

Illinois

Tool

Works,

Inc.

44,369

10,971,566

Ingersoll

Rand,

Inc.

60,000

6,024,000

ITT,

Inc.

71,433

10,104,912

John

Bean

Technologies

Corp.

603

59,323

Kadant,

Inc.

402

141,299

Kennametal,

Inc.

3,709

96,953

Lindsay

Corp.

259

32,631

Luxfer

Holdings

plc

1,309

16,939

Miller

Industries,

Inc.

261

17,732

Mueller

Industries,

Inc.

4,196

297,664

Mueller

Water

Products,

Inc.,

Class

A

5,792

119,779

Nikola

Corp.*

1,431

12,850

Parker-Hannifin

Corp.

11,351

6,369,727

Proto

Labs,

Inc.*

540

18,803

REV

Group,

Inc.

1,114

32,507

Shyft

Group,

Inc.

(The)

674

11,303

SPX

Technologies,

Inc.*

1,071

158,015

Standex

International

Corp.

603

112,640

Taylor

Devices,

Inc.*

297

15,254

Tennant

Co.

929

100,044

Terex

Corp.

2,336

147,775

Trinity

Industries,

Inc.

1,536

50,780

Twin

Disc,

Inc.

1,132

16,323

Wabash

National

Corp.

2,599

55,853

Watts

Water

Technologies,

Inc.,

Class

A

1,070

222,046

Xylem,

Inc.

59,853

7,990,376

91,355,412

Marine

Transportation

0

.0

%

†

Costamare,

Inc.

2,806

41,585

Golden

Ocean

Group

Ltd.

1,538

19,102

Matson,

Inc.

1,129

149,830

Pangaea

Logistics

Solutions

Ltd.

4,397

31,922

242,439

Common

Stocks

Shares

Value

($)

Media

0

.0

%

†

AMC

Networks,

Inc.,

Class

A*

2,346

26,111

Cable

One,

Inc.

245

101,278

Cardlytics,

Inc.*

1,132

9,384

EchoStar

Corp.,

Class

A*

2,622

52,650

EW

Scripps

Co.

(The),

Class

A*

4,715

17,728

Gannett

Co.,

Inc.*

7,351

36,094

iHeartMedia,

Inc.,

Class

A*

9,087

16,175

John

Wiley

&

Sons,

Inc.,

Class

A

1,759

83,992

Magnite,

Inc.*

2,539

36,917

PubMatic,

Inc.,

Class

A*

731

16,053

Scholastic

Corp.

1,128

35,340

Sinclair,

Inc.

1,736

26,700

TEGNA,

Inc.

8,229

131,088

Thryv

Holdings,

Inc.*

830

16,168

Townsquare

Media,

Inc.,

Class

A

3,050

36,844

642,522

Metals

&

Mining

0

.7

%

Agnico

Eagle

Mines

Ltd.

37,466

2,891,251

Alpha

Metallurgical

Resources,

Inc.

385

113,733

BHP

Group

Ltd.,

ADR-AU

30,707

1,705,160

Carpenter

Technology

Corp.

1,058

154,330

Century

Aluminum

Co.*

368

5,561

Coeur

Mining,

Inc.*

12,456

80,839

Commercial

Metals

Co.

4,498

270,330

Constellium

SE,

Class

A*

5,454

97,136

Freeport-McMoRan,

Inc.

111,082

5,044,234

Hecla

Mining

Co.

19,722

113,993

i-80

Gold

Corp.*

13,854

14,547

Ivanhoe

Electric,

Inc.*

2,324

23,054

Kaiser

Aluminum

Corp.

775

60,985

Lifezone

Metals

Ltd.*

1,685

13,295

Materion

Corp.

282

33,961

Metallus,

Inc.*

1,401

31,410

Novagold

Resources,

Inc.*

4,771

22,805

Nucor

Corp.

11,313

1,843,340

Olympic

Steel,

Inc.

413

20,931

Piedmont

Lithium,

Inc.*

1,539

15,421

Radius

Recycling,

Inc.,

Class

A

1,390

25,187

Ramaco

Resources,

Inc.,

Class

A

1,975

26,860

Ryerson

Holding

Corp.

852

20,269

SSR

Mining,

Inc.

9,581

53,366

Steel

Dynamics,

Inc.

82,215

10,952,682

SunCoke

Energy,

Inc.

6,277

73,441

Universal

Stainless

&

Alloy

Products,

Inc.*

512

19,210

Warrior

Met

Coal,

Inc.

1,421

98,205

Worthington

Steel,

Inc.

747

29,783

23,855,319

Mortgage

Real

Estate

Investment

Trusts

(REITs)

0

.0

%

†

AFC

Gamma,

Inc.

1,166

10,459

Angel

Oak

Mortgage

REIT,

Inc.

402

5,065

Apollo

Commercial

Real

Estate

Finance,

Inc.

4,079

44,461

Arbor

Realty

Trust,

Inc.

6,973

94,135

Ares

Commercial

Real

Estate

Corp.

3,717

28,732

52

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

Common

Stocks

Shares

Value

($)

Mortgage

Real

Estate

Investment

Trusts

(REITs)

ARMOUR

Residential

REIT,

Inc.

427

8,625

Blackstone

Mortgage

Trust,

Inc.,

Class

A

5,769

102,977

BrightSpire

Capital,

Inc.,

Class

A

5,538

31,733

Chicago

Atlantic

Real

Estate

Finance,

Inc.

2,874

45,926

Chimera

Investment

Corp.

1,936

28,285

Claros

Mortgage

Trust,

Inc.

2,519

23,956

Franklin

BSP

Realty

Trust,

Inc.

4,515

62,488

Granite

Point

Mortgage

Trust,

Inc.

10,806

32,202

Ladder

Capital

Corp.,

Class

A

5,715

68,580

PennyMac

Mortgage

Investment

Trust

4,534

62,433

Ready

Capital

Corp.

3,120

28,954

Seven

Hills

Realty

Trust

1,111

14,876

TPG

RE

Finance

Trust,

Inc.

4,659

40,720

Two

Harbors

Investment

Corp.

1,355

18,252

752,859

Multi-Utilities

0

.5

%

Avista

Corp.

2,869

112,407

Black

Hills

Corp.

2,504

147,861

CenterPoint

Energy,

Inc.

46,239

1,283,132

Dominion

Energy,

Inc.

50,220

2,684,761

DTE

Energy

Co.

14,545

1,753,109

NiSource,

Inc.

177,431

5,544,719

Northwestern

Energy

Group,

Inc.

1,335

71,783

Public

Service

Enterprise

Group,

Inc.

30,292

2,416,393

Sempra

30,292

2,425,178

Unitil

Corp.

125

7,660

16,447,003

Office

REITs

0

.0

%

†

Brandywine

Realty

Trust

8,604

43,364

COPT

Defense

Properties

5,021

145,458

Douglas

Emmett,

Inc.

4,084

65,712

Easterly

Government

Properties,

Inc.,

Class

A

1,992

27,749

Equity

Commonwealth*

2,150

43,795

Hudson

Pacific

Properties,

Inc.

7,715

46,213

JBG

SMITH

Properties

1,544

25,244

NET

Lease

Office

Properties

1,121

33,081

Orion

Office

REIT,

Inc.

9,123

36,948

Paramount

Group,

Inc.

4,964

26,011

Peakstone

Realty

Trust

3,663

49,744

Piedmont

Office

Realty

Trust,

Inc.,

Class

A

7,421

64,192

607,511

Oil,

Gas

&

Consumable

Fuels

3

.2

%

Ardmore

Shipping

Corp.

2,703

58,601

Berry

Corp.

5,389

36,969

California

Resources

Corp.

2,804

144,238

Cheniere

Energy,

Inc.

9,697

1,771,060

Chevron

Corp.

58,060

9,316,888

Clean

Energy

Fuels

Corp.*

6,091

17,359

CNX

Resources

Corp.*

4,948

130,974

Comstock

Resources,

Inc.

366

3,466

Common

Stocks

Shares

Value

($)

Oil,

Gas

&

Consumable

Fuels

ConocoPhillips

60,000

6,672,000

Crescent

Energy

Co.,

Class

A

1,043

12,756

CVR

Energy,

Inc.

1,441

41,213

Delek

US

Holdings,

Inc.

2,426

57,690

DHT

Holdings,

Inc.

6,792

79,806

Diamondback

Energy,

Inc.

22,703

4,593,044

Diversified

Energy

Co.

plc

Reg.

S

1,040

17,108

Dorian

LPG

Ltd.

1,549

63,292

DT

Midstream,

Inc.

7,273

548,093

Energy

Fuels,

Inc.*

1,180

6,714

EOG

Resources,

Inc.

38,108

4,832,094

Exxon

Mobil

Corp.

309,934

36,755,073

FLEX

LNG

Ltd.

1,336

35,938

Golar

LNG

Ltd.

2,677

93,427

Green

Plains,

Inc.*

1,020

18,085

Gulfport

Energy

Corp.*

241

35,478

International

Seaways,

Inc.

2,198

123,088

Kinetik

Holdings,

Inc.,

Class

A

668

27,709

Kosmos

Energy

Ltd.*

12,123

67,040

Magnolia

Oil

&

Gas

Corp.,

Class

A

6,917

188,419

Marathon

Oil

Corp.

332,824

9,335,713

Marathon

Petroleum

Corp.

64,308

11,383,802

Murphy

Oil

Corp.

5,156

213,355

Nordic

American

Tankers

Ltd.

3,700

13,801

Northern

Oil

&

Gas,

Inc.

1,972

85,171

ONEOK,

Inc.

27,900

2,324,907

Par

Pacific

Holdings,

Inc.*

1,665

44,206

PBF

Energy,

Inc.,

Class

A

3,466

141,239

Phillips

66

80,841

11,760,749

PrimeEnergy

Resources

Corp.*

176

20,789

REX

American

Resources

Corp.*

478

24,287

Riley

Exploration

Permian,

Inc.

501

14,674

Sable

Offshore

Corp.*

914

15,373

SandRidge

Energy,

Inc.

1,103

14,990

Scorpio

Tankers,

Inc.

2,150

164,862

SFL

Corp.

Ltd.

5,111

60,514

Shell

plc,

ADR

35,075

2,568,191

SilverBow

Resources,

Inc.*∞

374

13,771

Sitio

Royalties

Corp.,

Class

A

2,077

50,575

SM

Energy

Co.

3,867

178,655

Talos

Energy,

Inc.*

2,247

26,604

Targa

Resources

Corp.

11,313

1,530,423

Teekay

Corp.*

4,654

40,350

Teekay

Tankers

Ltd.,

Class

A

1,083

70,872

Uranium

Energy

Corp.*

7,847

46,533

VAALCO

Energy,

Inc.

8,641

61,870

Vitesse

Energy,

Inc.

1,687

43,795

Williams

Cos.,

Inc.

(The)

65,366

2,806,816

World

Kinect

Corp.

2,002

55,916

108,860,425

Paper

&

Forest

Products

0

.0

%

†

Clearwater

Paper

Corp.*

627

34,780

Sylvamo

Corp.

910

67,076

101,856

Passenger

Airlines

0

.1

%

Allegiant

Travel

Co.

149

8,354

Delta

Air

Lines,

Inc.

71,743

3,086,384

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

53

Common

Stocks

Shares

Value

($)

Passenger

Airlines

Frontier

Group

Holdings,

Inc.*

2,983

11,753

JetBlue

Airways

Corp.*

7,284

46,691

Joby

Aviation,

Inc.*

12,744

76,209

SkyWest,

Inc.*

1,493

119,350

Spirit

Airlines,

Inc.

5,321

16,016

Sun

Country

Airlines

Holdings,

Inc.*

1,058

13,860

3,378,617

Personal

Care

Products

0

.5

%

Beauty

Health

Co.

(The)*

11,470

21,220

Edgewell

Personal

Care

Co.

2,174

85,112

Herbalife

Ltd.*

3,247

39,873

Inter

Parfums,

Inc.

243

34,185

Kenvue,

Inc.

435,098

8,044,962

Nature's

Sunshine

Products,

Inc.*

855

14,629

Olaplex

Holdings,

Inc.*

9,147

19,026

Unilever

plc,

ADR-UK

149,724

9,193,054

Veru,

Inc.*

15,124

14,159

17,466,220

Pharmaceuticals

2

.2

%

Amneal

Pharmaceuticals,

Inc.*

4,656

34,129

Amphastar

Pharmaceuticals,

Inc.*

917

39,908

ANI

Pharmaceuticals,

Inc.*

749

49,224

Aquestive

Therapeutics,

Inc.*

4,070

15,629

Arvinas,

Inc.*

1,631

44,869

AstraZeneca

plc,

ADR-UK

108,676

8,601,705

Avadel

Pharmaceuticals

plc*

951

15,539

Axsome

Therapeutics,

Inc.*

718

62,689

Cassava

Sciences,

Inc.*

793

17,620

Collegium

Pharmaceutical,

Inc.*

1,816

70,043

Corcept

Therapeutics,

Inc.*

2,848

110,132

Edgewise

Therapeutics,

Inc.*

1,797

30,603

Eli

Lilly

&

Co.

47,725

38,383,786

Enliven

Therapeutics,

Inc.*

908

23,953

Esperion

Therapeutics,

Inc.*

10,721

24,766

EyePoint

Pharmaceuticals,

Inc.*

899

8,882

Fulcrum

Therapeutics,

Inc.*

1,788

16,593

Harmony

Biosciences

Holdings,

Inc.*

1,852

62,709

Harrow,

Inc.*

679

17,505

Innoviva,

Inc.*

3,741

70,480

Johnson

&

Johnson

146,907

23,189,270

Ligand

Pharmaceuticals,

Inc.*

476

51,879

Longboard

Pharmaceuticals,

Inc.*

897

29,816

Merck

&

Co.,

Inc.

20,571

2,327,197

Mind

Medicine

MindMed,

Inc.*

2,326

21,539

Neumora

Therapeutics,

Inc.*

2,710

34,851

Nuvation

Bio,

Inc.*

5,396

20,667

Ocular

Therapeutix,

Inc.*

3,516

29,745

Omeros

Corp.*

2,927

15,777

Pacira

BioSciences,

Inc.*

1,320

27,258

Phibro

Animal

Health

Corp.,

Class

A

2,321

43,820

Prestige

Consumer

Healthcare,

Inc.*

2,123

150,330

Revance

Therapeutics,

Inc.*

4,003

15,131

Common

Stocks

Shares

Value

($)

Pharmaceuticals

SIGA

Technologies,

Inc.

3,043

30,369

Supernus

Pharmaceuticals,

Inc.*

1,509

44,998

Terns

Pharmaceuticals,

Inc.*

2,116

16,399

Trevi

Therapeutics,

Inc.*

4,924

15,658

WaVe

Life

Sciences

Ltd.*

2,402

15,877

Xeris

Biopharma

Holdings,

Inc.*

6,642

16,472

73,797,817

Professional

Services

0

.5

%

Alight,

Inc.,

Class

A*

9,435

71,423

Barrett

Business

Services,

Inc.

1,982

72,224

CBIZ,

Inc.*

1,140

79,116

CRA

International,

Inc.

383

66,948

CSG

Systems

International,

Inc.

570

26,699

Equifax,

Inc.

11,957

3,340,427

ExlService

Holdings,

Inc.*

4,516

159,234

Exponent,

Inc.

1,341

142,253

First

Advantage

Corp.

1,664

28,654

Heidrick

&

Struggles

International,

Inc.

895

35,925

Huron

Consulting

Group,

Inc.*

415

45,654

ICF

International,

Inc.

797

117,239

Innodata,

Inc.*

807

15,616

Insperity,

Inc.

738

75,807

Jacobs

Solutions,

Inc.

21,523

3,149,891

Kelly

Services,

Inc.,

Class

A

2,260

53,178

Kforce,

Inc.

997

69,262

Korn

Ferry

2,160

159,235

Legalzoom.com,

Inc.*

1,747

11,670

Maximus,

Inc.

2,058

191,168

NV5

Global,

Inc.*

153

15,780

Spire

Global,

Inc.*

1,361

18,972

TransUnion

52,612

4,748,759

TriNet

Group,

Inc.

799

83,296

Upwork,

Inc.*

1,606

19,465

Verisk

Analytics,

Inc.,

Class

A

10,363

2,712,515

Verra

Mobility

Corp.,

Class

A*

5,993

180,569

Willdan

Group,

Inc.*

485

16,432

WNS

Holdings

Ltd.*

1,594

94,971

15,802,382

Real

Estate

Management

&

Development

0

.0

%

†

Anywhere

Real

Estate,

Inc.*

4,818

22,741

Compass,

Inc.,

Class

A*

16,879

74,099

Cushman

&

Wakefield

plc*

7,267

95,270

DigitalBridge

Group,

Inc.

1,999

28,246

eXp

World

Holdings,

Inc.

1,509

21,669

Forestar

Group,

Inc.*

1,488

47,065

Newmark

Group,

Inc.,

Class

A

3,855

50,038

Opendoor

Technologies,

Inc.*

27,299

63,334

RE/MAX

Holdings,

Inc.,

Class

A

3,395

32,762

Redfin

Corp.*

5,263

42,841

RMR

Group,

Inc.

(The),

Class

A

1,917

49,727

St

Joe

Co.

(The)

1,049

64,702

592,494

54

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

Common

Stocks

Shares

Value

($)

Residential

REITs

0

.5

%

American

Homes

4

Rent,

Class

A

53,333

1,924,788

Apartment

Investment

and

Management

Co.,

Class

A*

5,796

51,352

AvalonBay

Communities,

Inc.

40,115

8,220,366

BRT

Apartments

Corp.

867

16,248

Elme

Communities

2,921

48,080

Equity

LifeStyle

Properties,

Inc.

57,395

3,941,889

Equity

Residential

20,202

1,406,665

Independence

Realty

Trust,

Inc.

6,426

119,845

Invitation

Homes,

Inc.

50,101

1,767,062

NexPoint

Residential

Trust,

Inc.

1,482

64,748

Veris

Residential,

Inc.

1,904

29,912

17,590,955

Retail

REITs

0

.0

%

†

Acadia

Realty

Trust

1,270

27,483

Alexander's,

Inc.

210

50,883

CBL

&

Associates

Properties,

Inc.

2,536

65,353

InvenTrust

Properties

Corp.

3,162

89,074

Kite

Realty

Group

Trust

5,831

143,792

Macerich

Co.

(The)

7,682

122,989

Phillips

Edison

&

Co.,

Inc.

3,099

108,775

Retail

Opportunity

Investments

Corp.

3,871

57,871

Tanger,

Inc.

4,766

137,737

Urban

Edge

Properties

4,081

82,844

Whitestone

REIT

3,967

54,745

941,546

Semiconductors

&

Semiconductor

Equipment

9

.8

%

ACM

Research,

Inc.,

Class

A*

1,857

33,333

Advanced

Micro

Devices,

Inc.*

74,595

10,777,486

Aehr

Test

Systems*

1,058

19,964

Alpha

&

Omega

Semiconductor

Ltd.*

364

15,070

Ambarella,

Inc.*

498

26,215

Analog

Devices,

Inc.

39,730

9,192,727

Applied

Materials,

Inc.

127,977

27,156,719

ASML

Holding

NV

(Registered),

ADR-NL

3,189

2,987,136

Axcelis

Technologies,

Inc.*

1,171

147,956

Broadcom,

Inc.

80,897

12,998,530

Cohu,

Inc.*

1,833

58,638

Credo

Technology

Group

Holding

Ltd.*

3,631

100,760

Diodes,

Inc.*

1,133

88,600

Enphase

Energy,

Inc.*

87,597

10,083,291

Entegris,

Inc.

22,320

2,640,233

FormFactor,

Inc.*

2,271

121,635

Ichor

Holdings

Ltd.*

1,166

39,644

Impinj,

Inc.*

514

81,875

indie

Semiconductor,

Inc.,

Class

A*

3,162

18,909

KLA

Corp.

16,655

13,708,231

Kulicke

&

Soffa

Industries,

Inc.

1,883

88,821

Lam

Research

Corp.

6,487

5,976,084

Marvell

Technology,

Inc.

232,801

15,593,011

MaxLinear,

Inc.,

Class

A*

1,105

15,625

Common

Stocks

Shares

Value

($)

Semiconductors

&

Semiconductor

Equipment

MKS

Instruments,

Inc.

61,567

7,751,285

NVE

Corp.

519

46,347

NVIDIA

Corp.

1,494,246

174,856,667

ON

Semiconductor

Corp.*

25,050

1,960,162

PDF

Solutions,

Inc.*

329

11,545

Photronics,

Inc.*

2,865

72,800

Power

Integrations,

Inc.

2,132

155,721

QUALCOMM,

Inc.

84,325

15,258,609

Rambus,

Inc.*

3,541

182,149

Rigetti

Computing,

Inc.*

15,111

15,564

Semtech

Corp.*

2,440

77,397

Silicon

Laboratories,

Inc.*

837

100,549

SiTime

Corp.*

319

45,282

SkyWater

Technology,

Inc.*

1,458

10,789

SMART

Global

Holdings,

Inc.*

1,656

38,750

Synaptics,

Inc.*

863

75,357

Texas

Instruments,

Inc.

78,766

16,053,298

Ultra

Clean

Holdings,

Inc.*

1,646

71,206

Veeco

Instruments,

Inc.*

1,431

59,258

328,813,228

Software

10

.3

%

8x8,

Inc.*

11,985

36,914

A10

Networks,

Inc.

4,289

56,143

ACI

Worldwide,

Inc.*

3,872

167,387

Adeia,

Inc.

5,405

63,509

Adobe,

Inc.*

30,142

16,627,834

Agilysys,

Inc.*

713

79,920

Alarm.com

Holdings,

Inc.*

1,665

117,466

Alkami

Technology,

Inc.*

451

14,761

Altair

Engineering,

Inc.,

Class

A*

1,680

148,445

American

Software,

Inc.,

Class

A

2,903

31,759

Appian

Corp.,

Class

A*

704

26,006

AppLovin

Corp.,

Class

A*

102,862

7,930,660

Arteris,

Inc.*

1,972

16,151

Asana,

Inc.,

Class

A*

1,490

21,680

AudioEye,

Inc.*

585

14,643

Aurora

Innovation,

Inc.,

Class

A*

25,040

100,160

Autodesk,

Inc.*

8,769

2,170,503

AvePoint,

Inc.*

3,432

37,409

Blackbaud,

Inc.*

1,694

134,470

BlackLine,

Inc.*

1,299

61,728

Blend

Labs,

Inc.,

Class

A*

11,394

31,561

Box,

Inc.,

Class

A*

5,238

147,293

Braze,

Inc.,

Class

A*

748

32,957

C3.ai,

Inc.,

Class

A*

1,793

47,963

Cerence,

Inc.*

5,743

18,263

Check

Point

Software

Technologies

Ltd.*

19,929

3,655,975

Cipher

Mining,

Inc.*

4,333

22,662

Cleanspark,

Inc.*

6,304

100,864

Clear

Secure,

Inc.,

Class

A

4,092

87,364

Clearwater

Analytics

Holdings,

Inc.,

Class

A*

3,106

60,722

CommVault

Systems,

Inc.*

1,692

258,622

Consensus

Cloud

Solutions,

Inc.*

1,022

21,769

Crowdstrike

Holdings,

Inc.,

Class

A*

14,595

3,385,456

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

55

Common

Stocks

Shares

Value

($)

Software

Daily

Journal

Corp.*

34

15,830

Digital

Turbine,

Inc.*

10,743

25,568

D-Wave

Quantum,

Inc.*

13,267

13,267

Dynatrace,

Inc.*

149,332

6,558,661

eGain

Corp.*

4,277

31,008

Envestnet,

Inc.*

1,879

116,460

Freshworks,

Inc.,

Class

A*

3,542

44,275

Hut

8

Corp.*

2,618

38,328

Intapp,

Inc.*

235

8,420

InterDigital,

Inc.

1,140

139,946

Intuit,

Inc.

42,804

27,709,169

Jamf

Holding

Corp.*

581

10,638

LiveRamp

Holdings,

Inc.*

2,979

90,204

Marathon

Digital

Holdings,

Inc.*

8,485

166,900

Matterport,

Inc.*

3,613

16,042

MeridianLink,

Inc.*

351

8,294

Microsoft

Corp.

496,327

207,638,400

N-able,

Inc.*

950

13,243

NCR

Voyix

Corp.*

2,215

32,671

NextNav,

Inc.*

1,959

16,279

ON24,

Inc.*

2,358

15,492

OneSpan,

Inc.*

1,478

21,874

Oracle

Corp.

88,379

12,324,452

Pagaya

Technologies

Ltd.,

Class

A*

2,105

31,322

PagerDuty,

Inc.*

1,754

36,711

Porch

Group,

Inc.*

8,670

17,774

PowerSchool

Holdings,

Inc.,

Class

A*

759

17,123

Progress

Software

Corp.

1,927

112,537

Q2

Holdings,

Inc.*

1,482

99,991

Qualys,

Inc.*

1,287

191,943

Rapid7,

Inc.*

1,249

49,136

Red

Violet,

Inc.*

556

14,323

Rekor

Systems,

Inc.*

8,697

15,829

ReposiTrak,

Inc.

1,793

34,264

Riot

Platforms,

Inc.*

8,630

87,940

Salesforce,

Inc.

123,838

32,049,274

Sapiens

International

Corp.

NV

2,010

78,189

SEMrush

Holdings,

Inc.,

Class

A*

1,039

15,315

ServiceNow,

Inc.*

14,595

11,886,022

Smartsheet,

Inc.,

Class

A*

23,434

1,123,895

SolarWinds

Corp.

3,801

45,346

SoundHound

AI,

Inc.,

Class

A*

9,780

49,780

Sprout

Social,

Inc.,

Class

A*

587

22,934

SPS

Commerce,

Inc.*

1,231

265,182

Synopsys,

Inc.*

7,174

4,005,388

Tenable

Holdings,

Inc.*

2,675

122,836

Terawulf,

Inc.*

8,346

34,719

Varonis

Systems,

Inc.,

Class

B*

3,010

165,941

Verint

Systems,

Inc.*

2,591

93,639

Vertex,

Inc.,

Class

A*

796

31,561

WM

Technology,

Inc.*

12,180

13,154

Workday,

Inc.,

Class

A*

24,641

5,596,464

Workiva,

Inc.,

Class

A*

1,071

79,008

Zeta

Global

Holdings

Corp.,

Class

A*

4,090

87,608

Common

Stocks

Shares

Value

($)

Software

Zuora,

Inc.,

Class

A*

1,290

11,700

347,271,288

Specialized

REITs

0

.4

%

Four

Corners

Property

Trust,

Inc.

132,305

3,590,758

Outfront

Media,

Inc.

5,948

96,476

PotlatchDeltic

Corp.

1,506

66,806

Safehold,

Inc.

757

17,517

Uniti

Group,

Inc.

9,130

35,059

VICI

Properties,

Inc.,

Class

A

310,192

9,696,602

Weyerhaeuser

Co.

36,363

1,154,889

14,658,107

Specialty

Retail

2

.3

%

Aaron's

Co.,

Inc.

(The)

1,421

14,210

Abercrombie

&

Fitch

Co.,

Class

A*

1,520

224,170

Academy

Sports

&

Outdoors,

Inc.

2,223

120,198

American

Eagle

Outfitters,

Inc.

5,460

120,393

Arhaus,

Inc.,

Class

A

1,787

27,145

Asbury

Automotive

Group,

Inc.*

616

165,839

BARK,

Inc.*

7,986

12,378

Beyond,

Inc.*

1,504

16,995

Boot

Barn

Holdings,

Inc.*

1,170

156,172

Caleres,

Inc.

1,062

40,951

Designer

Brands,

Inc.,

Class

A

1,133

9,245

EVgo,

Inc.,

Class

A*

6,068

23,301

Foot

Locker,

Inc.

1,915

55,650

Group

1

Automotive,

Inc.

438

160,185

GrowGeneration

Corp.*

5,324

12,298

Home

Depot,

Inc.

(The)

60,643

22,326,327

J

Jill,

Inc.

1,046

40,219

Lands'

End,

Inc.*

1,579

27,932

Leslie's,

Inc.*

8,746

25,801

Lowe's

Cos.,

Inc.

56,959

13,984,004

National

Vision

Holdings,

Inc.*

427

6,174

ODP

Corp.

(The)*

220

9,295

Petco

Health

&

Wellness

Co.,

Inc.,

Class

A*

4,482

15,508

RealReal,

Inc.

(The)*

8,711

32,579

Revolve

Group,

Inc.,

Class

A*

1,654

32,005

Ross

Stores,

Inc.

76,244

10,920,428

Sally

Beauty

Holdings,

Inc.*

3,905

44,712

Shoe

Carnival,

Inc.

761

32,320

Signet

Jewelers

Ltd.

1,501

126,279

Sleep

Number

Corp.*

2,140

25,252

Sonic

Automotive,

Inc.,

Class

A

520

30,961

Stitch

Fix,

Inc.,

Class

A*

3,199

15,067

ThredUp,

Inc.,

Class

A*

4,358

9,152

Tile

Shop

Holdings,

Inc.*

2,345

16,931

TJX

Cos.,

Inc.

(The)

100,541

11,363,144

Ulta

Beauty,

Inc.*

36,275

13,236,385

Upbound

Group,

Inc.

1,020

38,485

Urban

Outfitters,

Inc.*

2,050

94,402

Victoria's

Secret

&

Co.*

1,770

31,417

Warby

Parker,

Inc.,

Class

A*

203,101

3,345,073

Winmark

Corp.

54

21,365

77,010,347

56

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

Common

Stocks

Shares

Value

($)

Technology

Hardware,

Storage

&

Peripherals

6

.2

%

Apple,

Inc.

906,948

201,415,012

CompoSecure,

Inc.,

Class

A

2,272

18,517

CPI

Card

Group,

Inc.*

520

15,252

Dell

Technologies,

Inc.,

Class

C

71,781

8,160,064

Immersion

Corp.

4,581

58,499

IonQ,

Inc.*

3,571

29,104

Xerox

Holdings

Corp.

3,368

36,256

209,732,704

Textiles,

Apparel

&

Luxury

Goods

0

.4

%

Figs,

Inc.,

Class

A*

2,354

15,301

Hanesbrands,

Inc.*

13,156

78,147

Kontoor

Brands,

Inc.

2,010

141,001

NIKE,

Inc.,

Class

B

77,838

5,826,953

Oxford

Industries,

Inc.

283

29,808

PVH

Corp.

74,247

7,572,452

Rocky

Brands,

Inc.

539

18,477

Steven

Madden

Ltd.

3,027

137,244

Superior

Group

of

Cos.,

Inc.

752

14,980

13,834,363

Tobacco

0

.0

%

†

Turning

Point

Brands,

Inc.

1,160

43,755

Vector

Group

Ltd.

5,737

73,319

117,074

Trading

Companies

&

Distributors

0

.5

%

Applied

Industrial

Technologies,

Inc.

1,331

290,411

Beacon

Roofing

Supply,

Inc.*

2,049

210,637

BlueLinx

Holdings,

Inc.*

415

50,045

Boise

Cascade

Co.

1,544

219,387

DNOW,

Inc.*

2,726

41,871

DXP

Enterprises,

Inc.*

812

44,465

Fastenal

Co.

145,065

10,263,349

FTAI

Aviation

Ltd.

2,223

247,753

GATX

Corp.

770

107,415

Global

Industrial

Co.

1,208

42,135

GMS,

Inc.*

1,789

172,156

H&E

Equipment

Services,

Inc.

690

36,087

Herc

Holdings,

Inc.

903

140,724

Karat

Packaging,

Inc.

802

23,956

McGrath

RentCorp

464

50,961

MRC

Global,

Inc.*

2,498

36,171

Rush

Enterprises,

Inc.,

Class

A

1,536

78,351

United

Rentals,

Inc.

6,654

5,037,743

Willis

Lease

Finance

Corp.

202

17,429

17,111,046

Water

Utilities

0

.0

%

†

American

States

Water

Co.

792

65,364

Cadiz,

Inc.*

5,119

19,043

California

Water

Service

Group

1,479

79,067

Consolidated

Water

Co.

Ltd.

774

22,492

Middlesex

Water

Co.

837

55,644

SJW

Group

514

31,154

York

Water

Co.

(The)

979

40,442

313,206

Wireless

Telecommunication

Services

0

.4

%

Gogo,

Inc.*

1,499

13,611

Spok

Holdings,

Inc.

1,185

18,166

Common

Stocks

Shares

Value

($)

Wireless

Telecommunication

Services

Telephone

&

Data

Systems,

Inc.

2,534

53,721

Tingo

Group,

Inc.*

1,247

21

T-Mobile

US,

Inc.

63,244

11,528,116

11,613,635

Total

Common

Stocks

(cost

$3,033,506,279)

3,229,107,899

Exchange

Traded

Funds

3

.0

%

Equity

Funds  3.0%

iShares

Russell

1000

ETF

36,843

11,122,902

iShares

Russell

2000

ETF

400,024

89,549,372

100,672,274

Total

Exchange

Traded

Funds

(cost

$90,313,836)

100,672,274

Rights

0

.0

%

†

Number

of

Rights

Biotechnology

0

.0

%

†

Chinook

Therapeutics,

Inc.,

CVR*^∞

485

0

Icosavax,

Inc.,

CVR*^∞

284

0

Inhibrx,

Inc.,

CVR*∞

457

0

0

Total

Rights

(cost

$0)

0

Repurchase

Agreements

1

.4

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$4,368,952,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$4,456,332.(b)

4,368,304

4,368,304

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$15,002,217,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$15,302,261.(b)

15,000,000

15,000,000

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

57

Repurchase

Agreements

Principal

Amount

($)

Value

($)

Nomura

Securities

International,

Inc.,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,742,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$5,100,001.(b)

5,000,000

5,000,000

Santander

US

Capital

Markets,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$6,000,890,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$6,120,908.(b)

6,000,000

6,000,000

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$18,002,665,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$18,360,011.

(b)

18,000,000

18,000,000

Total

Repurchase

Agreements

(cost

$48,368,304)

48,368,304

Total

Investments

(cost

$3,172,188,419)

—

100.5%

3,378,148,477

Liabilities

in

excess

of

other

assets

—

(0.5)%

(

15,862,031

)

NET

ASSETS

—

100.0%

$

3,362,286,446

*

Denotes

a

non-income

producing

security.

^

Value

determined

using

significant

unobservable

inputs.

∞

Fair

valued

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$51,517,987,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$48,368,304

and

by

$3,947,565

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

6.13%,

and

maturity

dates

ranging

from

9/5/2024

–

2/15/2054,

a

total

value

of

$52,315,869.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$48,368,304.

ADR

American

Depositary

Receipt

AU

Australian

Dollar

CVR

Contingent

Value

Rights

ETF

Exchange

Traded

Fund

NL

Netherlands

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

REIT

Real

Estate

Investment

Trust

UK

United

Kingdom

58

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

Fundamental

All

Cap

Equity

Portfolio

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

59

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

Aerospace

&

Defense

$

33,011,871

$

–

$

–

$

33,011,871

Air

Freight

&

Logistics

15,828,752

–

–

15,828,752

Automobile

Components

7,399,805

–

–

7,399,805

Automobiles

30,044,025

–

–

30,044,025

Banks

142,762,589

–

–

142,762,589

Beverages

29,329,776

–

–

29,329,776

Biotechnology

103,526,015

–

–

103,526,015

Broadline

Retail

105,857,456

–

–

105,857,456

Building

Products

33,800,678

–

–

33,800,678

Capital

Markets

75,472,630

–

–

75,472,630

Chemicals

60,037,219

–

–

60,037,219

Commercial

Services

&

Supplies

7,291,374

–

–

7,291,374

Communications

Equipment

29,025,703

–

–

29,025,703

Construction

&

Engineering

1,173,080

–

–

1,173,080

Construction

Materials

3,610,133

–

–

3,610,133

Consumer

Finance

16,635,450

–

–

16,635,450

Consumer

Staples

Distribution

&

Retail

40,964,023

–

–

40,964,023

Containers

&

Packaging

14,938,041

–

–

14,938,041

Distributors

43,180

–

–

43,180

Diversified

Consumer

Services

732,252

–

–

732,252

Diversified

REITs

503,657

–

–

503,657

Diversified

Telecommunication

Services

38,379,951

–

–

38,379,951

Electric

Utilities

39,328,575

–

–

39,328,575

Electrical

Equipment

36,937,405

–

–

36,937,405

Electronic

Equipment,

Instruments

&

Components

21,518,215

–

–

21,518,215

Energy

Equipment

&

Services

6,981,478

–

–

6,981,478

Entertainment

26,211,284

–

–

26,211,284

Financial

Services

122,865,412

–

–

122,865,412

Food

Products

23,076,583

–

–

23,076,583

Gas

Utilities

752,007

–

–

752,007

Ground

Transportation

40,726,052

–

–

40,726,052

Health

Care

Equipment

&

Supplies

59,807,199

–

–

59,807,199

Health

Care

Providers

&

Services

73,371,507

–

–

73,371,507

Health

Care

REITs

9,515,395

–

–

9,515,395

Health

Care

Technology

3,049,562

–

–

3,049,562

Hotel

&

Resort

REITs

568,537

–

–

568,537

Hotels,

Restaurants

&

Leisure

60,879,859

–

–

60,879,859

Household

Durables

19,839,664

–

–

19,839,664

Household

Products

53,760,295

–

–

53,760,295

Independent

Power

and

Renewable

Electricity

Producers

9,718,655

–

–

9,718,655

Industrial

Conglomerates

23,645,754

–

–

23,645,754

Industrial

REITs

11,049,008

–

–

11,049,008

Insurance

116,246,805

–

–

116,246,805

Interactive

Media

&

Services

184,813,065

–

–

184,813,065

IT

Services

41,340,511

–

–

41,340,511

Leisure

Products

351,997

–

–

351,997

Life

Sciences

Tools

&

Services

59,475,040

–

–

59,475,040

Machinery

91,355,412

–

–

91,355,412

Marine

Transportation

242,439

–

–

242,439

Media

642,522

–

–

642,522

Metals

&

Mining

23,855,319

–

–

23,855,319

Mortgage

Real

Estate

Investment

Trusts

(REITs)

752,859

–

–

752,859

Multi-Utilities

16,447,003

–

–

16,447,003

Office

REITs

607,511

–

–

607,511

Oil,

Gas

&

Consumable

Fuels

108,846,654

13,771

–

108,860,425

Paper

&

Forest

Products

101,856

–

–

101,856

60

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Fundamental

All

Cap

Equity

Portfolio

The

FVC

continues

to

evaluate

any

information

that

could

cause

an

adjustment

to

the

fair

value

for

these

investments,

such

as

market

news,

the

progress

of

judicial

and

regulatory

proceedings,

and

subadviser

recommendations. 

Level

1

Level

2

Level

3

Total

Assets:

Passenger

Airlines

3,378,617

$

–

$

–

$

3,378,617

Personal

Care

Products

17,466,220

–

–

17,466,220

Pharmaceuticals

73,797,817

–

–

73,797,817

Professional

Services

15,802,382

–

–

15,802,382

Real

Estate

Management

&

Development

592,494

–

–

592,494

Residential

REITs

17,590,955

–

–

17,590,955

Retail

REITs

941,546

–

–

941,546

Semiconductors

&

Semiconductor

Equipment

328,813,228

–

–

328,813,228

Software

347,271,288

–

–

347,271,288

Specialized

REITs

14,658,107

–

–

14,658,107

Specialty

Retail

77,010,347

–

–

77,010,347

Technology

Hardware,

Storage

&

Peripherals

209,732,704

–

–

209,732,704

Textiles,

Apparel

&

Luxury

Goods

13,834,363

–

–

13,834,363

Tobacco

117,074

–

–

117,074

Trading

Companies

&

Distributors

17,111,046

–

–

17,111,046

Water

Utilities

313,206

–

–

313,206

Wireless

Telecommunication

Services

11,613,635

–

–

11,613,635

Total

Common

Stocks

$

3,229,094,128

$

13,771

$

–

$

3,229,107,899

Exchange

Traded

Funds

100,672,274

–

–

100,672,274

Repurchase

Agreements

–

48,368,304

–

48,368,304

Rights  

–

–

–

–

Total

$

3,329,766,402

$

48,382,075

$

–

$

3,378,148,477

As

of

July

31,

2024,

the

fund

held

two

rights

investments

that

were

categorized

as

Level

3

investments

which

were

each

valued

at

$0.

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

1

Asset-Backed

Securities

15.7%

Principal

Amount

($)

Value

($)

CAYMAN

ISLANDS

2.8%

Financial

Services

1.7%

Arbor

Realty

Commercial

Real

Estate

Notes

Ltd.,

Series

2022-FL2,

Class

A,

7.18%,

5/15/2037(a)

(b)

2,938,444

2,934,895

AREIT

Ltd.,

Series

2024-

CRE9,

Class

A,

7.02%,

5/17/2041(a)(b)

1,490,000

1,487,201

LoanCore

Issuer

Ltd.,

Series

2022-CRE7,

Class

A,

6.89%,

1/17/2037(a)(b)

1,624,542

1,618,506

TRTX

Issuer

Ltd.,

Series

2022-FL5,

Class

A,

6.98%,

2/15/2039(a)(b)

2,270,351

2,247,229

8,287,831

Other

1.1%

ACREC

Ltd.,

Series

2021-

FL1,

Class

A,

6.60%,

10/16/2036(a)(b)

1,659,687

1,646,852

FS

Rialto,

Series

2021-

FL3,

Class

A,

6.69%,

11/16/2036(a)(b)

2,288,488

2,274,982

HGI

CRE

CLO

Ltd.,

Series

2021-FL2,

Class

A,

6.44%,

9/17/2036(a)(b)

646,710

640,925

MF1

Ltd.,

Series

2022-

FL8,

Class

A,

6.69%,

2/19/2037(a)(b)

1,443,308

1,428,619

5,991,378

14,279,209

UNITED

STATES

12.9%

Airlines

0.2%

American

Airlines

Pass-

Through

Trust,

Series

2021-1,

Class

B,

3.95%,

7/11/2030

123,000

114,357

Blackbird

Capital

II

Aircraft

Lease

Ltd.,

Series

2021-

1A,

Class

B,

3.45%,

7/15/2046(b)

1,059,846

948,139

United

Airlines

Pass-

Through

Trust,

Series

2020-1,

Class

B,

4.88%,

1/15/2026

89,948

88,756

1,151,252

Automobiles

3.0%

American

Credit

Acceptance

Receivables

Trust,

Series

2023-

4,

Class

C,

6.99%,

9/12/2030(b)

2,110,000

2,158,120

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2024-1A,

Class

C,

6.48%,

6/20/2030(b)

610,000

627,581

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Automobiles

Ford

Credit

Auto

Lease

Trust,

Series

2023-

B,

Class

C,

6.43%,

4/15/2027

1,420,000

1,451,294

Foursight

Capital

Automobile

Receivables

Trust

Series

2021-2,

Class

E,

3.35%,

10/15/2027(b)

290,000

279,686

Series

2021-2,

Class

F,

4.19%,

2/15/2029(b)

240,000

229,587

GLS

Auto

Select

Receivables

Trust,

Series

2024-1A,

Class

D,

6.43%,

1/15/2031(b)

2,060,000

2,109,474

JPMorgan

Chase

Bank

NA-CACLN

Series

2021-2,

Class

F,

4.39%,

12/26/2028(b)

770,000

765,037

Series

2021-3,

Class

F,

3.69%,

2/26/2029(b)

550,000

541,092

Octane

Receivables

Trust,

Series

2023-1A,

Class

D,

7.76%,

3/20/2030(b)

1,500,000

1,570,861

Prestige

Auto

Receivables

Trust,

Series

2023-

2A,

Class

D,

7.71%,

8/15/2029(b)

1,020,000

1,061,642

Santander

Bank

Auto

Credit-Linked

Notes,

Series

2022-A,

Class

D,

9.97%,

5/15/2032(b)

1,240,000

1,287,013

Santander

Drive

Auto

Receivables

Trust,

Series

2024-1,

Class

C,

5.45%,

3/15/2030

830,000

836,286

Tricolor

Auto

Securitization

Trust,

Series

2021-

1A,

Class

F,

5.08%,

5/15/2028(b)

2,250,000

2,247,454

15,165,127

Consumer

Finance

0.2%

Santander

Drive

Auto

Receivables

Trust,

Series

2024-2,

Class

D,

6.28%,

8/15/2031

1,180,000

1,213,061

Equipment

Loans

&

Leases

0.4%

NMEF

Funding

LLC

Series

2021-A,

Class

D,

5.78%,

12/15/2027(b)

500,000

498,427

Series

2023-A,

Class

C,

8.04%,

6/17/2030(b)

1,300,000

1,307,970

Financial

Services

6.5%

Ally

Bank

Auto

Credit-

Linked

Notes,

Series

2024-A,

Class

E,

7.92%,

5/17/2032(b)

514,673

520,011

Arbor

Realty

Commercial

Real

Estate

Notes

Ltd.

2

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Financial

Services

Series

2021-FL4,

Class

A,

6.79%,

11/15/2036(a)

(b)

424,651

421,562

Series

2021-FL4,

Class

B,

7.44%,

11/15/2036(a)

(b)

920,000

899,426

Arivo

Acceptance

Auto

Loan

Receivables

Trust,

Series

2024-1A,

Class

B,

6.87%,

6/17/2030(b)

2,410,000

2,435,463

Bayview

Opportunity

Master

Fund

VII

LLC,

Series

2024-EDU1,

Class

D,

8.10%,

6/25/2047(a)(b)

896,491

906,104

BHG

Securitization

Trust

Series

2024-1CON,

Class

C,

6.86%,

4/17/2035(b)

1,130,000

1,146,799

Series

2023-B,

Class

C,

8.15%,

12/17/2036(b)

1,440,000

1,510,929

Exeter

Automobile

Receivables

Trust,

Series

2024-4A,

Class

E,

7.65%,

2/17/2032(b)

2,230,000

2,236,854

FIGRE

Trust,

Series

2024-

HE3,

Class

A,

5.94%,

7/25/2054(a)(b)

2,520,000

2,539,444

FS

Rialto

Issuer

LLC,

Series

2022-FL4,

Class

A,

7.24%,

1/19/2039(a)

(b)

1,602,631

1,601,062

GLS

Auto

Receivables

Issuer

Trust

Series

2021-4A,

Class

E,

4.43%,

10/16/2028(b)

1,360,000

1,296,627

Series

2024-2A,

Class

D,

6.19%,

2/15/2030(b)

1,530,000

1,562,840

Series

2024-2A,

Class

E,

7.98%,

5/15/2031(b)

1,453,000

1,487,227

Huntington

Bank

Auto

Credit-Linked

Notes,

Series

2024-1,

Class

D,

10.59%,

5/20/2032(a)(b)

446,402

448,724

Kinetic

Advantage

Master

Owner

Trust,

Series

2024-1A,

Class

A,

7.99%,

11/15/2027(a)(b)

2,550,000

2,557,020

Octane

Receivables

Trust,

Series

2022-2A,

Class

D,

7.70%,

2/20/2030(b)

1,275,000

1,325,806

Ready

Capital

Mortgage

Financing

LLC

Series

2021-FL7,

Class

B,

7.26%,

11/25/2036(a)

(b)

1,150,000

1,135,273

Series

2023-FL11,

Class

B,

8.88%,

10/25/2039(a)

(b)

1,440,000

1,441,709

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Financial

Services

Santander

Bank

Auto

Credit-Linked

Notes,

Series

2024-A,

Class

F,

10.17%,

6/15/2032(b)

1,360,000

1,374,283

SCF

Equipment

Leasing

LLC,

Series

2022-

1A,

Class

E,

5.26%,

7/20/2032(b)

1,600,000

1,541,949

Switch

ABS

Issuer

LLC,

Series

2024-1A,

Class

A2,

6.28%,

3/25/2054(b)

550,000

559,198

Vista

Point

Securitization

Trust,

Series

2024-

CES1,

Class

A1,

6.68%,

5/25/2054(b)(c)

1,661,111

1,674,826

Westlake

Automobile

Receivables

Trust,

Series

2024-2A,

Class

D,

5.91%,

4/15/2030(b)

2,320,000

2,341,733

32,964,869

Home

Equity

1.0%

FIGRE

Trust,

Series

2023-

HE3,

Class

A,

6.44%,

11/25/2053(a)(b)

1,222,504

1,250,682

Saluda

Grade

Alternative

Mortgage

Trust,

Series

2023-FIG4,

Class

A,

6.72%,

11/25/2053(a)(b)

2,524,127

2,582,246

Towd

Point

HE

Trust,

Series

2021-HE1,

Class

M1,

1.50%,

2/25/2063(a)

(b)

1,124,067

1,086,477

4,919,405

Other

1.6%

Arbor

Realty

Commercial

Real

Estate

Notes

Ltd.

Series

2021-FL1,

Class

A,

6.41%,

12/15/2035(a)

(b)

793,944

789,825

Series

2022-FL1,

Class

A,

6.79%,

1/15/2037(a)

(b)

2,130,000

2,106,688

Home

Partners

of

America

Trust,

Series

2019-

1,

Class

F,

4.10%,

9/17/2039(b)

778,187

705,977

Pagaya

AI

Debt

Trust

Series

2023-3,

Class

A,

7.60%,

12/16/2030(b)

922,349

927,553

Series

2023-5,

Class

A,

7.18%,

4/15/2031(b)

409,135

409,911

Progress

Residential

Trust

Series

2021-SFR8,

Class

G,

4.01%,

10/17/2038(b)

1,020,000

926,290

Series

2021-SFR7,

Class

F,

3.83%,

8/17/2040(b)

840,000

734,171

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

3

Asset-Backed

Securities

Principal

Amount

($)

Value

($)

Other

Series

2021-SFR9,

Class

F,

4.05%,

11/17/2040(b)

390,000

350,542

Tricon

American

Homes,

Series

2020-SFR1,

Class

F,

4.88%,

7/17/2038(b)

570,000

553,847

Tricon

Residential

Trust,

Series

2022-SFR2,

Class

E,

7.51%,

7/17/2040(b)

345,000

352,026

7,856,830

65,076,941

Total

Asset-Backed

Securities

(cost  $78,927,371)

79,356,150

Collateralized

Mortgage

Obligations

12.9%

BERMUDA

1.3%

Bellemeade

Re

Ltd.,

Series

2021-3A,

Class

B1,

9.20%,

9/25/2031(a)(b)

1,030,000

1,029,989

Eagle

RE

Ltd.,

Series

2021-2,

Class

M2,

9.60%,

4/25/2034(a)(b)

1,370,000

1,427,554

Home

RE

Ltd.,

Series

2023-1,

Class

M1B,

9.95%,

10/25/2033(a)(b)

510,000

533,103

Oaktown

Re

VII

Ltd.,

Series

2021-2,

Class

B1,

9.75%,

4/25/2034(a)(b)

700,000

716,997

Radnor

RE

Ltd.

Series

2023-1,

Class

M1A,

8.05%,

7/25/2033(a)(b)

1,270,000

1,285,830

Series

2023-1,

Class

M1B,

9.70%,

7/25/2033(a)(b)

330,000

344,605

Series

2021-1,

Class

M2,

8.50%,

12/27/2033(a)(b)

1,230,000

1,248,511

6,586,589

0

UNITED

STATES

11.6%

A&D

Mortgage

Trust,

Series

2023-NQM4,

Class

B1,

8.10%,

9/25/2068(a)(b)

1,570,000

1,573,603

CFMT

LLC,

Series

2024-HB14,

Class

M3,

3.00%,

6/25/2034(a)(b)

1,660,000

1,402,328

COLT

Mortgage

Loan

Trust,

Series

2024-

4,

Class

B1,

7.88%,

7/25/2069(a)(b)

1,080,000

1,083,631

Collateralized

Mortgage

Obligations

Principal

Amount

($)

Value

($)

UNITED

STATES

Connecticut

Avenue

Securities

Trust

Series

2020-R02,

Class

2B1,

8.46%,

1/25/2040(a)(b)

2,445,000

2,516,431

Series

2021-R01,

Class

1B2,

11.35%,

10/25/2041(a)(b)

2,141,143

2,261,582

Series

2021-R03,

Class

1B2,

10.85%,

12/25/2041(a)(b)

700,000

732,816

Series

2022-R02,

Class

2M2,

8.35%,

1/25/2042(a)(b)

330,000

339,683

Series

2023-R03,

Class

2M1,

7.85%,

4/25/2043(a)(b)

954,282

974,127

Series

2023-R06,

Class

1M1,

7.05%,

7/25/2043(a)(b)

516,007

519,442

Series

2024-R02,

Class

1B1,

7.85%,

2/25/2044(a)(b)

1,720,000

1,757,449

Series

2024-R03,

Class

2M2,

7.30%,

3/25/2044(a)(b)

1,090,000

1,098,741

Series

2024-R04,

Class

1A1,

6.35%,

5/25/2044(a)(b)

2,167,991

2,170,686

Series

2024-R05,

Class

2M2,

7.04%,

7/25/2044(a)(b)

1,410,000

1,411,762

Series

2024-R05,

Class

2B1,

7.34%,

7/25/2044(a)(b)

1,260,000

1,260,197

DataBank

Issuer,

Series

2024-1A,

Class

A2,

5.30%,

1/26/2054(b)

1,020,000

986,671

Eagle

RE

Ltd.,

Series

2023-1,

Class

M1B,

9.30%,

9/26/2033(a)(b)

2,060,000

2,136,373

FARM

Mortgage

Trust,

Series

2021-1,

Class

B,

3.24%,

7/25/2051(a)(b)

299,509

218,067

FHLMC

REMIC

Series

4395,

Class

TI,

IO,

4.00%,

5/15/2026

4,377

40

Series

4097,

Class

CI,

IO,

3.00%,

8/15/2027

92,015

2,679

Series

4123,

Class

DI,

IO,

3.00%,

10/15/2027

244,758

7,607

Series

4244,

Class

AI,

IO,

4.50%,

8/15/2028

7,243

92

FHLMC

STACR

REMIC

Trust

Series

2022-DNA1,

Class

M2,

7.85%,

1/25/2042(a)(b)

180,000

183,691

Series

2023-DNA1,

Class

M1A,

7.45%,

3/25/2043(a)(b)

1,710,399

1,745,462

4

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Collateralized

Mortgage

Obligations

Principal

Amount

($)

Value

($)

UNITED

STATES

FHLMC

STACR

REMIC

Trust

Series

2023-DNA2,

Class

M1A,

7.45%,

4/25/2043(a)(b)

1,819,295

1,858,775

Series

2020-HQA5,

Class

B2,

12.75%,

11/25/2050(a)(b)

630,000

764,181

Series

2020-DNA6,

Class

B2,

11.00%,

12/25/2050(a)(b)

790,000

899,210

FHLMC

STACR

Trust

Series

2019-FTR3,

Class

B2,

10.26%,

9/25/2047(a)(b)

2,500,000

2,663,812

Series

2019-FTR4,

Class

B2,

10.46%,

11/25/2047(a)(b)

1,280,000

1,373,450

Series

2018-HQA2,

Class

B2,

16.46%,

10/25/2048(a)(b)

1,090,000

1,377,988

Series

2019-DNA3,

Class

B2,

13.61%,

7/25/2049(a)(b)

720,000

825,255

Flagstar

Mortgage

Trust,

Series

2021-4,

Class

AX1,

IO,

0.21%,

6/1/2051(a)(b)

41,088,884

460,886

FNMA

REMIC

Series

2012-130,

Class

UI,

IO,

3.00%,

12/25/2027

105,914

2,909

Series

2012-150,

Class

BI,

IO,

3.00%,

1/25/2028

120,366

3,875

Series

2013-5,

Class

YI,

IO,

3.00%,

2/25/2028

119,920

3,368

Series

2009-31,

Class

PI,

IO,

5.00%,

11/25/2038

23,581

774

GCAT

Trust,

Series

2021-

CM1,

Class

M1,

3.28%,

4/25/2065(a)(b)

530,000

450,172

GNMA

REMIC

Series

2013-84,

Class

SC,

IO,

1.16%,

3/16/2040(a)

35,524

2,083

Series

2011-135,

Class

QI,

IO,

4.50%,

6/16/2041

49,934

4,329

Series

2012-140,

Class

IC,

IO,

3.50%,

11/20/2042

89,997

14,758

Series

2016-5,

Class

CS,

IO,

0.69%,

1/20/2046(a)

94,413

9,263

Series

2016-20,

Class

SB,

IO,

0.64%,

2/20/2046(a)

90,683

8,903

Series

2016-17,

Class

JS,

IO,

0.64%,

2/20/2046(a)

75,170

7,596

Collateralized

Mortgage

Obligations

Principal

Amount

($)

Value

($)

UNITED

STATES

GNMA

REMIC

Series

2016-81,

Class

,

IO,

4.00%,

6/20/2046

53,261

10,088

Series

2016-88,

Class

SM,

IO,

0.64%,

7/20/2046(a)

97,667

12,662

Series

2016-108,

Class

QI,

IO,

4.00%,

8/20/2046

94,900

18,762

Series

2016-118,

Class

DS,

IO,

0.64%,

9/20/2046(a)

115,291

16,610

Series

2016-145,

Class

UI,

IO,

3.50%,

10/20/2046

57,994

9,861

Series

2019-159,

Class

HI,

IO,

3.50%,

12/20/2049

1,056,378

178,694

Series

2019-159,

Class

CI,

IO,

3.50%,

12/20/2049

362,652

61,543

Homeward

Opportunities

Fund

I

Trust,

Series

2020-2,

Class

M1,

3.90%,

5/25/2065(a)(b)

170,000

160,556

Hundred

Acre

Wood

Trust,

Series

2021-INV1,

Class

AX1,

IO,

0.23%,

7/25/2051(a)(b)

15,211,108

189,544

JP

Morgan

Mortgage

Trust

Series

2021-10,

Class

AX1,

IO,

0.12%,

12/25/2051(a)(b)

28,342,389

178,203

Series

2021-8,

Class

AX1,

IO,

0.12%,

12/25/2051(a)(b)

25,449,724

160,132

MFA

Trust,

Series

2023-

RTL2,

Class

A1,

8.50%,

11/25/2028(b)(c)

1,826,000

1,873,263

Ready

Capital

Mortgage

Financing

LLC,

Series

2022-FL8,

Class

A,

7.00%,

1/25/2037(a)(b)

1,906,201

1,898,085

Saluda

Grade

Alternative

Mortgage

Trust

Series

2024-RTL4,

Class

A1,

7.50%,

2/25/2030(b)(c)

2,450,000

2,470,108

Series

2024-RTL5,

Class

A1,

7.76%,

4/25/2030(b)(c)

2,390,000

2,419,574

STACR

Trust,

Series

2018-HRP2,

Class

B2,

15.96%,

2/25/2047(a)(b)

1,380,000

1,711,896

Towd

Point

Mortgage

Trust,

Series

2022-

SJ1,

Class

B1,

5.25%,

3/25/2062(a)(b)

1,820,000

1,664,877

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

5

Collateralized

Mortgage

Obligations

Principal

Amount

($)

Value

($)

UNITED

STATES

Saluda

Grade

Alternative

Mortgage

Trust

Triangle

Re

Ltd.,

Series

2023-1,

Class

M1B,

10.60%,

11/25/2033(a)

(b)

1,640,000

1,756,384

Verus

Securitization

Trust

Series

2023-4,

Class

B1,

8.16%,

5/25/2068(a)

(b)

2,530,000

2,539,600

Series

2023-5,

Class

B2,

8.11%,

6/25/2068(a)

(b)

910,000

899,422

Series

2023-6,

Class

B1,

7.82%,

9/25/2068(a)

(b)

1,529,000

1,542,979

Series

2024-3,

Class

B1,

8.03%,

4/25/2069(a)

(b)

2,125,000

2,163,647

Visio

Trust,

Series

2020-

1R,

Class

M1,

2.93%,

11/25/2055(b)

350,000

320,135

Vista

Point

Securitization

Trust,

Series

2020-

2,

Class

M1,

3.40%,

4/25/2065(a)(b)

1,325,000

1,247,629

58,619,001

0

Total

Collateralized

Mortgage

Obligations

(cost

$62,770,310)

65,205,590

Commercial

Mortgage-Backed

Securities

4.0%

UNITED

STATES

4.0%

BAMLL

Commercial

Mortgage

Securities

Trust

,

Series

2024-

NASH,

Class

B,

8.08%,

5/15/2039(a)(b)

2,130,000

2,114,122

BX

Trust

,

Series

2021-

ARIA,

Class

D,

7.34%,

10/15/2036(a)(b)

1,100,000

1,078,701

Commercial

Mortgage

Trust

,

Series

2015-

CR26,

Class

D,

3.46%,

10/10/2048(a)

1,350,000

1,093,726

CSAIL

Commercial

Mortgage

Trust

,

Series

2015-C4,

Class

D,

3.55%,

11/15/2048(a)

250,000

230,423

FHLMC

Multifamily

Structured

Credit

Risk

REMIC

Series

2021-MN1,

Class

M2,

9.10%,

1/25/2051(a)

(b)

700,000

711,408

Series

2021-MN3,

Class

M2,

9.35%,

11/25/2051(a)(b)

815,000

824,264

GS

Mortgage

Securities

Corp.

Trust

Commercial

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

UNITED

STATES

Series

2021-IP,

Class

D,

7.54%,

10/15/2036(a)(b)

350,000

340,235

Series

2021-IP,

Class

E,

8.99%,

10/15/2036(a)(b)

150,000

148,500

GS

Mortgage

Securities

Trust

,

Series

2016-

GS4,

Class

D,

3.23%,

11/10/2049(a)(b)

1,340,000

986,070

Hilton

Commercial

Mortgage

Trust

,

Series

2024-ORL,

Class

D,

8.52%,

5/15/2037(a)(b)

540,000

537,975

HTL

Commercial

Mortgage

Trust

Series

2024-T53,

Class

C,

7.09%,

5/10/2039(a)

(b)

1,030,000

1,042,655

Series

2024-T53,

Class

D,

8.20%,

5/10/2039(a)

(b)

2,190,000

2,229,576

MCR

Mortgage

Trust

Series

2024-TWA,

Class

D,

7.40%,

6/12/2039(b)

2,600,000

2,618,121

Series

2024-TWA,

Class

F,

10.38%,

6/12/2039(b)

1,960,000

1,977,407

Morgan

Stanley

Capital

I

Trust

,

Series

2016-

UBS9,

Class

D,

3.00%,

3/15/2049(b)

420,000

307,872

Multifamily

Connecticut

Avenue

Securities

Trust

,

Series

2019-

01,

Class

M10,

8.71%,

10/25/2049(a)(b)

885,545

886,902

SLG

Office

Trust

,

Series

2021-OVA,

Class

E,

2.85%,

7/15/2041(b)

1,975,000

1,544,473

THPT

Mortgage

Trust

,

Series

2023-THL,

Class

C,

8.53%,

12/10/2034(a)

(b)

700,000

721,411

UBS

Commercial

Mortgage

Trust

,

Series

2017-C4,

Class

C,

4.53%,

10/15/2050(a)

810,000

708,298

Total

Commercial

Mortgage-Backed

Securities

(cost

$20,776,575)

20,102,139

6

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Corporate

Bonds

59.6%

Principal

Amount

($)

Value

($)

AUSTRALIA

0.4%

Banks

0.4%

Australia

&

New

Zealand

Banking

Group

Ltd.,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.62%),

5.73%,

9/18/2034(b)(d)

1,885,000

1,914,663

BERMUDA

5.8%

Financial

Services

3.5%

Alamo

Re

Ltd.

Series

A,

(T-BILL

1MO

+

7.52%),

12.79%,

6/7/2025(b)(d)

500,000

492,500

Series

A,

(T-BILL

1MO

+

8.39%),

13.66%,

6/7/2026(b)(d)

500,000

500,500

Series

A,

(T-BILL

1MO

+

6.00%),

6.00%,

6/7/2027(b)(d)

500,000

506,005

Alamo

Re

Ltd.,

Series

B,

(T-BILL

1MO

+

7.75%),

13.02%,

6/7/2027(b)(d)

250,000

250,723

Aquila

Re

I

Ltd.

Series

A-1,

(3

Month

Treasury

Bill

Rate

+

5.65%),

11.00%,

6/8/2026(b)(d)

250,000

250,850

Series

A-1,

(3

Month

Treasury

Bill

Rate

+

5.50%),

10.77%,

6/7/2027(b)(d)

250,000

247,100

Aquila

Re

I

Ltd.,

Series

C-1,

(3

Month

Treasury

Bill

Rate

+

9.18%),

14.53%,

6/8/2026(b)(d)

250,000

256,250

Baldwin

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

2.04%),

7.30%,

7/7/2025(b)(d)

250,000

245,900

Cape

Lookout

Re

Ltd.

Series

A,

(T-BILL

1MO

+

8.42%),

13.68%,

4/28/2026(b)(d)

1,000,000

1,010,000

Series

A,

(T-BILL

1MO

+

8.00%),

13.27%,

4/5/2027(b)(d)

500,000

500,575

Citrus

Re

Ltd.

Series

A,

(3

Month

Treasury

Bill

Rate

+

6.59%),

11.92%,

6/7/2026(b)(d)

250,000

252,725

Series

A,

(3

Month

Treasury

Bill

Rate

+

9.25%),

14.51%,

6/7/2027(b)(d)

250,000

246,775

Easton

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

7.50%),

12.79%,

1/8/2027(b)(d)

500,000

489,250

Corporate

Bonds

Principal

Amount

($)

Value

($)

BERMUDA

Financial

Services

Four

Lakes

Re

Ltd.

Series

A,

(3

Month

Treasury

Bill

Rate

+

6.46%),

11.74%,

1/7/2026(b)(d)

250,000

254,475

Series

A,

(3

Month

Treasury

Bill

Rate

+

5.75%),

5.78%,

1/7/2027(b)(d)

250,000

247,950

Four

Lakes

Re

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

9.50%),

14.78%,

1/7/2027(b)(d)

250,000

254,100

Herbie

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

6.00%),

11.28%,

1/7/2028(b)(d)

500,000

449,100

Herbie

Re

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

9.00%),

14.28%,

1/8/2028(b)(d)

250,000

219,900

High

Point

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

5.75%),

11.01%,

1/6/2027(b)(d)

250,000

250,550

Hypatia

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

10.50%),

15.78%,

4/8/2026(b)(d)

250,000

254,925

Kilimanjaro

II

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

6.25%),

11.53%,

6/30/2028(b)(d)

500,000

504,100

Kilimanjaro

II

Re

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

7.25%),

12.53%,

6/30/2028(b)(d)

500,000

504,800

Locke

Tavern

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

4.78%),

10.05%,

4/9/2026(b)(d)

500,000

497,100

Matterhorn

Re

Ltd.,

Series

2022,

(SOFR

+

5.25%),

10.61%,

3/24/2025(b)(d)

750,000

728,025

Mayflower

Re

Ltd.,

Series

B,

(T-BILL

1MO

+

6.02%),

11.07%,

7/8/2026(b)(d)

500,000

507,550

Mayflower

Re

Ltd.,

Series

A,

(T-BILL

1MO

+

4.50%,

1.56%

Cap,

0.56%

Floor),

4.50%,

7/8/2027(b)(d)

500,000

500,200

Mona

Lisa

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

7.00%),

12.26%,

7/8/2025(b)(d)

500,000

482,650

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

7

Corporate

Bonds

Principal

Amount

($)

Value

($)

BERMUDA

Financial

Services

Mona

Lisa

Re

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

12.50%),

17.78%,

1/8/2026(b)(d)

250,000

256,525

Mystic

Re

IV

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

11.69%),

16.98%,

1/8/2025(b)(d)

250,000

239,925

Mystic

Re

IV

Ltd.

Series

A,

(3

Month

Treasury

Bill

Rate

+

9.17%),

14.44%,

1/8/2026(b)(d)

250,000

255,750

Series

A,

(3

Month

Treasury

Bill

Rate

+

12.00%),

17.28%,

1/8/2027(b)(d)

750,000

751,800

Palm

RE

Ltd.,

Series

A,

(T-BILL

1MO

+

9.50%),

14.77%,

6/7/2027(b)(d)

250,000

248,400

Ramble

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

6.25%),

11.52%,

3/5/2027(b)(d)

500,000

475,950

Sanders

Re

III

Ltd.

Series

A,

(3

Month

Treasury

Bill

Rate

+

3.41%),

8.77%,

4/7/2026(b)(d)

500,000

482,800

Series

A,

(3

Month

Treasury

Bill

Rate

+

8.14%),

13.50%,

6/5/2026(b)(d)

500,000

512,950

Series

A,

(3

Month

Treasury

Bill

Rate

+

5.75%),

11.03%,

4/7/2028(b)(d)

1,250,000

1,272,500

Sanders

Re

III

Ltd.,

(3

Month

Treasury

Bill

Rate

+

5.55%),

10.92%,

4/7/2027(b)(d)

250,000

251,300

Topanga

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

5.05%),

10.31%,

1/8/2026(b)(d)

400,000

383,960

Ursa

Re

Ltd.,

Series

Aa,

(3

Month

Treasury

Bill

Rate

+

5.50%),

10.76%,

12/6/2025(b)(d)

250,000

253,250

Ursa

Re

Ltd.,

Series

E,

(3

Month

Treasury

Bill

Rate

+

9.25%),

14.51%,

12/7/2026(b)(d)

250,000

256,200

Veraison

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

4.75%),

10.03%,

3/8/2027(b)(d)

500,000

503,250

Corporate

Bonds

Principal

Amount

($)

Value

($)

BERMUDA

Financial

Services

Winston

RE

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

10.25%),

15.65%,

2/26/2027(b)(d)

250,000

251,000

Winston

RE

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

11.75%),

17.01%,

2/26/2027(b)(d)

250,000

249,812

17,549,950

Insurance

2.2%

Blue

Ridge

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

5.25%),

10.51%,

1/8/2027(b)(d)

250,000

247,500

Blue

Ridge

Re

Ltd.,

Series

B,

(T-BILL

1MO

+

8.00%),

13.26%,

1/8/2027(b)(d)

250,000

250,853

Bonanza

RE

Ltd.,

Series

2022,

(3

Month

Treasury

Bill

Rate

+

5.62%),

11.16%,

3/16/2025(b)(d)

250,000

229,477

Bonanza

RE

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

8.45%),

13.63%,

1/8/2026(b)(d)

250,000

252,000

First

Coast

Re

IV

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

9.52%),

9.00%,

4/7/2026(b)(d)

250,000

252,150

FloodSmart

Re

Ltd.

Series

A,

(T-BILL

1MO

+

17.15%),

22.43%,

3/11/2026(b)(d)

500,000

494,420

Series

A,

(3

Month

Treasury

Bill

Rate

+

14.00%),

19.26%,

3/12/2027(b)(d)

1,000,000

996,000

Integrity

Re

Ltd.,

Series

A,

(T-BILL

1MO

+

12.86%),

18.12%,

6/6/2025(b)(d)

750,000

754,447

Integrity

Re

Ltd.,

Series

B,

(T-BILL

1MO

+

13.25%),

18.51%,

6/8/2026(b)(d)

250,000

246,148

Kendall

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

6.25%),

0.50%,

4/30/2027(b)(d)

500,000

510,000

Kendall

Re

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

7.75%),

13.01%,

4/30/2027(b)(d)

250,000

246,050

Marlon

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

7.00%),

12.28%,

6/7/2027(b)(d)

250,000

249,750

8

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

BERMUDA

Insurance

Merna

Reinsurance

II

Ltd.,

Series

CAT,

(3

Month

Treasury

Bill

Rate

+

3.85%),

9.13%,

4/7/2025(b)(d)

500,000

505,000

Merna

Reinsurance

II

Ltd.,

Series

3,

(3

Month

Treasury

Bill

Rate

+

7.53%),

12.81%,

7/7/2025(b)(d)

500,000

492,250

Merna

Reinsurance

II

Ltd.

Series

A,

(3

Month

Treasury

Bill

Rate

+

7.75%),

13.02%,

7/7/2026(b)(d)

250,000

254,375

Series

A,

(3

Month

Treasury

Bill

Rate

+

7.25%),

12.51%,

7/7/2027(b)(d)

250,000

247,529

Merna

Reinsurance

II

Ltd.

Series

B,

(3

Month

Treasury

Bill

Rate

+

10.25%),

15.52%,

7/7/2026(b)(d)

250,000

251,775

Series

B,

(3

Month

Treasury

Bill

Rate

+

8.75%),

14.01%,

7/7/2027(b)(d)

250,000

248,065

Merna

Reinsurance

II

Ltd.,

Series

C,

(3

Month

Treasury

Bill

Rate

+

8.50%),

13.76%,

7/7/2027(b)(d)

500,000

496,123

MetroCat

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

5.75%),

5.75%,

5/8/2026(b)(d)

750,000

749,175

Purple

Re

Ltd.

Series

A,

(T-BILL

1MO

+

10.50%),

15.78%,

6/5/2026(b)(d)

250,000

249,850

Series

A,

(T-BILL

1MO

+

9.00%),

14.33%,

6/7/2027(b)(d)

500,000

494,500

Solomon

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

5.52%),

10.88%,

6/8/2026(b)(d)

500,000

503,900

Sutter

Re

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

6.75%),

12.03%,

6/19/2026(b)(d)

250,000

257,250

Titania

Re

Ltd.,

Series

A,

(T-BILL

1MO

+

12.53%),

17.81%,

2/27/2026(b)(d)

250,000

256,950

Torrey

Pines

Re

Ltd.

Series

A,

(3

Month

Treasury

Bill

Rate

+

5.22%),

10.48%,

6/5/2026(b)(d)

250,000

253,150

Corporate

Bonds

Principal

Amount

($)

Value

($)

BERMUDA

Insurance

Series

A,

(T-BILL

1MO

+

6.00%),

11.37%,

6/7/2027(b)(d)

250,000

254,225

Torrey

Pines

Re

Ltd.,

Series

B,

(T-BILL

1MO

+

7.25%),

12.62%,

6/7/2027(b)(d)

250,000

255,750

10,498,662

Metals

&

Mining

0.1%

Galileo

Re

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

7.00%),

12.26%,

1/8/2026(b)(d)

250,000

251,100

Galileo

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

7.00%),

12.28%,

1/7/2028(b)(d)

500,000

504,150

755,250

28,803,862

BRAZIL

0.5%

Electric

Utilities

0.1%

Light

Servicos

de

Eletricidade

SA,

4.38%,

6/18/2026(b)(e)

995,000

484,316

Food

Products

0.2%

Minerva

Luxembourg

SA,

4.38%,

3/18/2031(b)

1,210,000

1,017,754

Oil,

Gas

&

Consumable

Fuels

0.2%

MC

Brazil

Downstream

Trading

Sarl

,

7.25%,

6/30/2031(b)

1,010,658

935,279

2,437,349

CAMEROON

0.1%

Oil,

Gas

&

Consumable

Fuels

0.1%

Golar

LNG

Ltd.,

7.00%,

10/20/2025(b)

346,055

344,325

CANADA

1.8%

Banks

0.5%

Federation

des

Caisses

Desjardins

du

Quebec

5.70%,

3/14/2028(b)(f)

705,000

723,179

5.25%,

4/26/2029(b)(f)

1,730,000

1,756,365

2,479,544

Commercial

Services

&

Supplies

0.6%

Element

Fleet

Management

Corp.

5.64%,

3/13/2027(b)

1,500,000

1,520,400

6.32%,

12/4/2028(b)

1,605,000

1,683,811

3,204,211

Multi-Utilities

0.2%

Algonquin

Power

&

Utilities

Corp.

5.37%,

6/15/2026(c)

290,000

290,707

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

9

Corporate

Bonds

Principal

Amount

($)

Value

($)

CANADA

Multi-Utilities

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.25%),

4.75%,

1/18/2082(d)

705,000

644,471

935,178

Oil,

Gas

&

Consumable

Fuels

0.5%

Enbridge,

Inc.

5.63%,

4/5/2034

730,000

747,337

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.97%),

7.20%,

6/27/2054(d)

490,000

498,670

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.12%),

7.38%,

3/15/2055(d)

490,000

496,517

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.43%),

8.50%,

1/15/2084(d)

928,000

1,014,923

2,757,447

9,376,380

CAYMAN

ISLANDS

0.4%

Financial

Services

0.1%

Long

Point

Re

IV

Ltd.,

Series

2022,

(3

Month

Treasury

Bill

Rate

+

4.25%),

9.51%,

6/1/2026(b)(d)

250,000

251,875

Insurance

0.3%

Residential

Reinsurance

2020

Ltd.,

Series

3,

(3

Month

Treasury

Bill

Rate

+

8.13%),

13.40%,

12/6/2024(b)(d)

250,000

238,525

Residential

Reinsurance

2021

Ltd.,

Series

3,

(3

Month

Treasury

Bill

Rate

+

6.05%),

11.41%,

12/6/2025(b)(d)

500,000

462,100

Vitality

Re

XII

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

2.75%),

8.03%,

1/7/2025(b)(d)

250,000

249,025

Vitality

Re

XIII

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

2.00%),

7.27%,

1/6/2026(b)(d)

250,000

248,350

Vitality

Re

XIII

Ltd.,

Series

B,

(3

Month

Treasury

Bill

Rate

+

2.75%),

8.02%,

1/6/2026(b)(d)

300,000

296,850

Corporate

Bonds

Principal

Amount

($)

Value

($)

CAYMAN

ISLANDS

Insurance

Vitality

Re

XIV

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

3.50%),

8.77%,

1/5/2027(b)(d)

500,000

507,500

2,002,350

2,254,225

COLOMBIA

0.2%

Passenger

Airlines

0.2%

ABRA

Global

Finance

,

6.00%,

3/2/2028(b)(g)

1,166,338

1,090,633

DENMARK

0.3%

Banks

0.3%

Danske

Bank

A/S,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.95%),

5.43%,

3/1/2028(b)(d)

1,770,000

1,791,840

FINLAND

0.3%

Banks

0.3%

Nordea

Bank

Abp

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.60%),

3.75%,

3/01/2029(b)(d)(h)

1,840,000

1,556,823

FRANCE

1.3%

Banks

1.2%

BNP

Paribas

SA

(SOFR

+

1.52%),

5.18%,

1/9/2030(b)(d)

2,055,000

2,076,971

(SOFR

+

1.59%),

5.50%,

5/20/2030(b)(d)

740,000

750,399

BPCE

SA,

(SOFR

+

1.85%),

5.94%,

5/30/2035(b)(d)

1,375,000

1,402,232

Societe

Generale

SA,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

3.20%),

6.22%,

6/15/2033(b)(d)(f)

1,400,000

1,418,288

5,647,890

Diversified

Telecommunication

Services

0.1%

Altice

France

SA,

5.13%,

7/15/2029(b)

930,000

652,204

6,300,094

GERMANY

0.3%

Automobiles

0.3%

Mercedes-Benz

Finance

North

America

LLC,

5.05%,

8/3/2033(b)(f)

1,610,000

1,623,085

10

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

GHANA

0.1%

Oil,

Gas

&

Consumable

Fuels

0.1%

Tullow

Oil

plc,

10.25%,

5/15/2026(b)

654,000

631,495

HONG

KONG

0.1%

Financial

Services

0.1%

Black

Kite

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

6.82%),

12.18%,

6/9/2025(b)(d)

250,000

251,552

IRELAND

0.7%

Consumer

Finance

0.5%

AerCap

Ireland

Capital

DAC,

3.30%,

1/30/2032

545,000

479,765

Avolon

Holdings

Funding

Ltd.,

6.38%,

5/4/2028(b)

2,025,000

2,093,854

2,573,619

Financial

Services

0.2%

Atlas

Capital

DAC,

Series

A,

(SOFR

+

7.72%),

13.09%,

6/5/2026(b)(d)

250,000

250,275

Atlas

Capital

DAC,

Series

2024,

(SOFR

+

12.50%),

0.50%,

6/8/2027(b)(d)

500,000

530,000

Queen

Street

2023

Re

DAC,

Series

A,

(3

Month

Treasury

Bill

Rate

+

7.50%),

12.77%,

12/8/2025(b)(d)

750,000

752,400

1,532,675

4,106,294

ITALY

1.3%

Banks

0.9%

Intesa

Sanpaolo

SpA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

4.40%),

8.25%,

11/21/2033(b)(d)

760,000

859,255

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

3.90%),

7.78%,

6/20/2054(b)(d)

1,435,000

1,541,470

UniCredit

SpA

,

(USD

ICE

Swap

Rate

5

Year

+

3.70%),

5.86%,

6/19/2032(b)(d)

2,260,000

2,241,342

4,642,067

Electric

Utilities

0.4%

Enel

Finance

International

NV,

5.00%,

6/15/2032(b)

1,915,000

1,877,125

6,519,192

Corporate

Bonds

Principal

Amount

($)

Value

($)

JAPAN

2.2%

Banks

0.7%

Mitsubishi

UFJ

Financial

Group,

Inc.,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.00%),

5.43%,

4/17/2035(d)(f)

2,280,000

2,331,709

Mizuho

Financial

Group,

Inc.,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.30%),

5.58%,

5/26/2035(d)(f)

1,010,000

1,033,486

3,365,195

Beverages

0.3%

Suntory

Holdings

Ltd.,

5.12%,

6/11/2029(b)(f)

1,430,000

1,456,767

Capital

Markets

0.7%

Nomura

Holdings,

Inc.

5.61%,

7/6/2029(f)

2,000,000

2,046,767

5.78%,

7/3/2034(f)

1,335,000

1,372,320

3,419,087

Insurance

0.5%

Nippon

Life

Insurance

Co.,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.59%),

5.95%,

4/16/2054(b)(d)

2,370,000

2,402,532

10,643,581

LUXEMBOURG

0.3%

Hotels,

Restaurants

&

Leisure

0.2%

Cruise

Yacht

Upper

HoldCo

Ltd.,

11.88%,

7/5/2028

1,200,000

1,230,000

IT

Services

0.1%

ION

Trading

Technologies

Sarl

,

9.50%,

5/30/2029(b)(f)

490,000

509,189

1,739,189

MEXICO

1.2%

Diversified

Telecommunication

Services

0.3%

Total

Play

Telecomunicaciones

SA

de

CV,

6.38%,

9/20/2028(b)

2,915,000

1,785,865

Energy

Equipment

&

Services

0.1%

Borr

IHC

Ltd.

10.00%,

11/15/2028(b)

370,915

388,418

10.38%,

11/15/2030(b)

(f)

268,325

283,181

671,599

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

11

Corporate

Bonds

Principal

Amount

($)

Value

($)

MEXICO

Food

Products

0.1%

Bimbo

Bakeries

USA,

Inc.,

5.38%,

1/9/2036(b)

700,000

698,762

Oil,

Gas

&

Consumable

Fuels

0.2%

Petroleos

Mexicanos

,

6.70%,

2/16/2032

1,076,000

917,396

Passenger

Airlines

0.5%

Grupo

Aeromexico

SAB

de

CV,

8.50%,

3/17/2027(b)

2,710,000

2,708,731

6,782,353

NETHERLANDS

0.7%

Banks

0.7%

ING

Groep

NV

(SOFR

+

1.44%),

5.34%,

3/19/2030(d)(f)

1,310,000

1,328,343

(SOFR

+

2.09%),

6.11%,

9/11/2034(d)

570,000

601,883

ING

Groep

NV,

Series

NC10,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.86%),

4.25%,

5/16/2031(d)(h)

2,160,000

1,712,466

3,642,692

NORWAY

0.3%

Oil,

Gas

&

Consumable

Fuels

0.3%

Aker

BP

ASA,

6.00%,

6/13/2033(b)

1,235,000

1,275,384

SOUTH

AFRICA

0.2%

Metals

&

Mining

0.2%

Anglo

American

Capital

plc,

6.00%,

4/5/2054(b)

1,015,000

1,020,447

SPAIN

2.4%

Banks

2.4%

Banco

Bilbao

Vizcaya

Argentaria

SA,

5.38%,

3/13/2029

1,400,000

1,430,960

Banco

Santander

SA

5.44%,

7/15/2031

6,200,000

6,304,879

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.91%),

8.00%,

2/01/2034(d)(h)

1,000,000

1,010,335

CaixaBank

SA

Reg.

S,

(EUR

Swap

Annual

5

Year

+

3.86%),

3.63%,

9/14/2028(d)(h)

EUR

2,000,000

1,896,461

(SOFR

+

2.77%),

6.84%,

9/13/2034(b)(d)

1,015,000

1,103,137

(SOFR

+

2.26%),

6.04%,

6/15/2035(b)

(d)(f)

540,000

556,229

12,302,001

Corporate

Bonds

Principal

Amount

($)

Value

($)

SWITZERLAND

1.4%

Capital

Markets

0.9%

UBS

Group

AG

(ICE

IBA

-

USD

SOFR

ICE

Swap

Rate

5

Year

+

4.16%),

7.75%,

4/12/2031(b)(d)(h)

1,500,000

1,541,829

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.76%),

9.25%,

11/13/2033(b)(d)(f)(h)

365,000

413,054

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.20%),

5.96%,

1/12/2034(b)(d)

1,110,000

1,155,602

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.00%),

6.30%,

9/22/2034(b)(d)(f)

365,000

388,444

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.77%),

5.70%,

2/8/2035(b)(d)(f)

1,310,000

1,340,462

4,839,391

Passenger

Airlines

0.5%

VistaJet

Malta

Finance

plc,

9.50%,

6/1/2028(b)

2,970,000

2,658,020

7,497,411

UNITED

KINGDOM

2.6%

Banks

1.4%

Barclays

plc,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

3.30%),

7.39%,

11/2/2028(d)

1,025,000

1,092,837

Lloyds

Banking

Group

plc,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.91%),

8.00%,

9/27/2029(d)(h)

1,590,000

1,650,929

NatWest

Group

plc

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.75%),

8.13%,

11/10/2033(d)(f)(h)

925,000

957,803

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.20%),

6.48%,

6/1/2034(d)

1,355,000

1,404,847

12

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

KINGDOM

Banks

Standard

Chartered

plc,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.10%),

6.10%,

1/11/2035(b)(d)

2,000,000

2,087,194

7,193,610

Financial

Services

0.7%

Nationwide

Building

Society,

5.13%,

7/29/2029(b)

3,405,000

3,443,316

Sussex

Capital

UK

PCC

Ltd.,

(3

Month

Treasury

Bill

Rate

+

8.36%),

13.64%,

1/8/2025(b)(d)

250,000

243,000

3,686,316

Ground

Transportation

0.1%

Ashtead

Capital,

Inc.,

5.95%,

10/15/2033(b)

470,000

482,728

Health

Care

Equipment

&

Supplies

0.2%

Smith

&

Nephew

plc,

5.40%,

3/20/2034

1,040,000

1,052,016

Tobacco

0.2%

BAT

Capital

Corp.,

6.00%,

2/20/2034(f)

723,000

752,144

13,166,814

UNITED

STATES

34.5%

Aerospace

&

Defense

0.3%

Boeing

Co.

(The)

6.86%,

5/1/2054(b)

570,000

603,428

7.01%,

5/1/2064(b)

620,000

657,173

1,260,601

Automobile

Components

0.2%

Garrett

Motion

Holdings,

Inc.,

7.75%,

5/31/2032(b)

1,076,000

1,094,092

Automobiles

1.0%

Ford

Motor

Co.,

6.10%,

8/19/2032(f)

210,000

212,521

Hyundai

Capital

America

5.68%,

6/26/2028(b)

515,000

527,290

6.50%,

1/16/2029(b)

695,000

735,101

5.35%,

3/19/2029(b)

2,500,000

2,538,901

6.20%,

9/21/2030(b)

995,000

1,055,077

5,068,890

Banks

5.5%

Citigroup,

Inc.

(SOFR

+

1.36%),

5.17%,

2/13/2030(d)

1,400,000

1,415,399

(SOFR

+

2.66%),

6.17%,

5/25/2034(d)(f)

690,000

716,295

Citizens

Financial

Group,

Inc.,

(SOFR

+

2.01%),

5.84%,

1/23/2030(d)(f)

445,000

452,357

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Banks

Comerica

Bank,

(SOFR

+

2.61%),

5.33%,

8/25/2033(d)

1,610,000

1,474,699

JPMorgan

Chase

&

Co.,

(SOFR

+

1.46%),

5.29%,

7/22/2035(d)

2,340,000

2,372,839

KeyCorp,

(United

States

SOFR

Compounded

Index

+

2.42%),

6.40%,

3/6/2035(d)(f)

650,000

678,022

PNC

Financial

Services

Group,

Inc.

(The)

(SOFR

+

1.34%),

5.30%,

1/21/2028(d)(f)

470,000

474,325

(SOFR

+

1.20%),

5.49%,

5/14/2030(d)

1,595,000

1,634,120

(SOFR

+

1.93%),

5.07%,

1/24/2034(d)

310,000

306,677

(SOFR

+

2.28%),

6.88%,

10/20/2034(d)(f)

875,000

973,799

Santander

Holdings

USA,

Inc.,

(SOFR

+

2.14%),

6.34%,

5/31/2035(d)(f)

5,160,000

5,286,975

Truist

Financial

Corp.

(SOFR

+

2.45%),

7.16%,

10/30/2029(d)

95,000

102,328

(SOFR

+

1.62%),

5.44%,

1/24/2030(d)(f)

190,000

192,928

(SOFR

+

2.24%),

4.92%,

7/28/2033(d)

2,255,000

2,139,066

US

Bancorp

(SOFR

+

1.25%),

5.10%,

7/23/2030(d)(f)

7,000,000

7,062,011

(SOFR

+

2.11%),

4.97%,

7/22/2033(d)

700,000

674,436

(SOFR

+

2.09%),

5.85%,

10/21/2033(d)(f)

1,730,000

1,795,809

27,752,085

Building

Products

0.2%

Owens

Corning,

5.70%,

6/15/2034

850,000

878,909

Capital

Markets

2.0%

Bank

of

New

York

Mellon

Corp.

(The),

(SOFR

+

1.77%),

5.61%,

7/21/2039(d)(f)

605,000

614,602

Charles

Schwab

Corp.

(The),

(SOFR

+

2.50%),

5.85%,

5/19/2034(d)

435,000

451,209

Goldman

Sachs

Group,

Inc.

(The),

(SOFR

+

1.55%),

5.33%,

7/23/2035(d)

1,375,000

1,385,211

Jefferies

Financial

Group,

Inc.,

6.20%,

4/14/2034

1,815,000

1,883,611

LPL

Holdings,

Inc.,

5.70%,

5/20/2027(f)

990,000

1,000,489

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

13

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Capital

Markets

Morgan

Stanley

(SOFR

+

1.45%),

5.17%,

1/16/2030(d)

275,000

278,249

(SOFR

+

1.56%),

5.32%,

7/19/2035(d)(f)

910,000

917,500

(SOFR

+

2.62%),

5.30%,

4/20/2037(d)(f)

1,690,000

1,658,017

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.43%),

5.95%,

1/19/2038(d)

740,000

755,936

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.80%),

5.94%,

2/7/2039(d)

1,110,000

1,129,107

10,073,931

Chemicals

1.0%

Celanese

US

Holdings

LLC,

6.70%,

11/15/2033(f)

2,000,000

2,150,497

Rain

Carbon,

Inc.,

12.25%,

9/1/2029(b)

2,900,000

3,134,543

5,285,040

Commercial

Services

&

Supplies

0.4%

Brink's

Co.

(The),

6.50%,

6/15/2029(b)

280,000

285,341

Republic

Services,

Inc.,

5.20%,

11/15/2034(f)

1,680,000

1,715,122

2,000,463

Communications

Equipment

0.1%

Motorola

Solutions,

Inc.,

5.60%,

6/1/2032(f)

336,000

346,096

Consumer

Finance

2.9%

Ally

Financial,

Inc.

(SOFR

+

3.26%),

6.99%,

6/13/2029(d)

640,000

672,880

(SOFR

+

2.82%),

6.85%,

1/3/2030(d)

445,000

465,201

(SOFR

+

2.29%),

6.18%,

7/26/2035(d)

1,455,000

1,461,640

American

Honda

Finance

Corp.,

5.05%,

7/10/2031

3,065,000

3,103,657

Capital

One

Financial

Corp.

(SOFR

+

1.91%),

5.70%,

2/1/2030(d)(f)

320,000

326,510

(SOFR

+

2.60%),

5.82%,

2/1/2034(d)

275,000

278,041

(SOFR

+

2.86%),

6.38%,

6/8/2034(d)

770,000

807,692

(SOFR

+

1.99%),

5.88%,

7/26/2035(d)(f)

450,000

456,519

Ford

Motor

Credit

Co.

LLC

5.85%,

5/17/2027

1,215,000

1,227,838

7.35%,

3/6/2030

200,000

214,792

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Consumer

Finance

3.63%,

6/17/2031(f)

1,500,000

1,313,723

General

Motors

Financial

Co.,

Inc.

5.60%,

6/18/2031

1,300,000

1,315,341

6.40%,

1/9/2033

1,365,000

1,442,630

6.10%,

1/7/2034(f)

1,455,000

1,498,846

14,585,310

Containers

&

Packaging

0.3%

Sealed

Air

Corp.,

6.50%,

7/15/2032(b)

1,525,000

1,545,778

Diversified

Consumer

Services

0.1%

Champions

Financing,

Inc.,

8.75%,

2/15/2029(b)(f)

735,000

749,661

Diversified

REITs

0.9%

Simon

Property

Group

LP,

6.25%,

1/15/2034(f)

892,000

962,994

Uniti

Group

LP,

6.00%,

1/15/2030(b)

5,150,000

3,689,697

4,652,691

Diversified

Telecommunication

Services

0.5%

Level

3

Financing,

Inc.,

10.50%,

5/15/2030(b)

2,250,000

2,299,500

Electric

Utilities

1.7%

AEP

Texas,

Inc.,

5.45%,

5/15/2029(f)

970,000

990,921

Duke

Energy

Corp.,

5.00%,

8/15/2052

1,105,000

990,963

ITC

Holdings

Corp.,

5.65%,

5/9/2034(b)

1,010,000

1,035,693

NextEra

Energy

Capital

Holdings,

Inc.,

5.75%,

9/1/2025(f)

780,000

785,399

PacifiCorp,

5.45%,

2/15/2034(f)

1,460,000

1,476,178

Southern

California

Edison

Co.,

5.45%,

6/1/2031

500,000

516,255

Vistra

Operations

Co.

LLC

7.75%,

10/15/2031(b)

2,035,000

2,150,497

6.95%,

10/15/2033(b)

635,000

689,595

8,635,501

Electrical

Equipment

0.1%

Energizer

Gamma

Acquisition

BV,

3.50%,

6/30/2029(b)

EUR

610,000

607,095

Energy

Equipment

&

Services

0.4%

Transocean

Titan

Financing

Ltd.,

8.38%,

2/1/2028(b)

120,000

124,801

Transocean,

Inc.,

8.75%,

2/15/2030(b)

319,500

335,614

USA

Compression

Partners

LP,

7.13%,

3/15/2029(b)(f)

1,210,000

1,231,392

1,691,807

14

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Financial

Services

1.1%

Block,

Inc.,

6.50%,

5/15/2032(b)

1,770,000

1,798,677

Freedom

Mortgage

Holdings

LLC

9.25%,

2/1/2029(b)(f)

1,395,000

1,404,988

9.13%,

5/15/2031(b)(f)

1,680,000

1,652,700

Lightning

Re,

Series

A,

(3

Month

Treasury

Bill

Rate

+

11.00%),

16.27%,

3/31/2026(b)(d)

500,000

505,250

5,361,615

Food

Products

0.2%

JBS

USA

Holding

Lux

Sarl

5.75%,

4/1/2033(f)

258,000

259,223

6.50%,

12/1/2052(f)

705,000

711,748

970,971

Gas

Utilities

0.8%

CenterPoint

Energy

Resources

Corp.,

5.40%,

7/1/2034(f)

390,000

394,193

KeySpan

Gas

East

Corp.,

5.99%,

3/6/2033(b)

1,035,000

1,063,910

Spire,

Inc.,

5.30%,

3/1/2026

2,500,000

2,510,506

3,968,609

Ground

Transportation

0.6%

Penske

Truck

Leasing

Co.

LP,

5.25%,

7/1/2029(b)

3,070,000

3,107,369

Health

Care

Providers

&

Services

1.5%

CVS

Health

Corp.,

5.55%,

6/1/2031

1,860,000

1,901,169

Health

Care

Service

Corp.

5.20%,

6/15/2029(b)

355,000

359,917

5.45%,

6/15/2034(b)

590,000

596,351

UnitedHealth

Group,

Inc.

5.63%,

7/15/2054(f)

1,205,000

1,235,505

5.75%,

7/15/2064

955,000

980,835

US

Acute

Care

Solutions

LLC,

9.75%,

5/15/2029(b)(f)

2,525,000

2,503,481

7,577,258

Health

Care

REITs

0.4%

MPT

Operating

Partnership

LP,

3.50%,

3/15/2031(f)

3,020,000

1,984,244

Hotels,

Restaurants

&

Leisure

2.4%

Carnival

Corp.

6.00%,

5/1/2029(b)(f)

2,595,000

2,588,695

5.75%,

1/15/2030(b)

EUR

1,530,000

1,707,637

Choice

Hotels

International,

Inc.,

5.85%,

8/1/2034

465,000

467,266

Darden

Restaurants,

Inc.,

6.30%,

10/10/2033(f)

2,610,000

2,758,207

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Hotels,

Restaurants

&

Leisure

Hilton

Grand

Vacations

Borrower

Escrow

LLC,

6.63%,

1/15/2032(b)

785,000

792,695

Las

Vegas

Sands

Corp.,

6.00%,

8/15/2029

130,000

132,418

Marriott

International,

Inc.,

5.30%,

5/15/2034

1,740,000

1,753,832

Royal

Caribbean

Cruises

Ltd.,

6.00%,

2/1/2033(b)

1,565,000

1,575,256

11,776,006

Insurance

1.7%

3264

Re

Ltd.,

Series

A,

(3

Month

Treasury

Bill

Rate

+

7.00%),

12.28%,

7/8/2027(b)(d)

250,000

252,850

CNO

Financial

Group,

Inc.,

6.45%,

6/15/2034(f)

2,640,000

2,702,704

Farmers

Exchange

Capital

III,

(ICE

LIBOR

USD

3

Month

+

3.45%),

5.45%,

10/15/2054(b)(d)

3,270,000

2,752,018

Gateway

Re

Ltd.

Series

A,

(T-BILL

1MO

+

0.00%),

5.26%,

12/27/2024(b)(d)

250,000

234,250

Series

A,

(T-BILL

1MO

+

13.96%),

19.23%,

2/24/2026(b)(d)

250,000

257,415

Series

A,

(T-BILL

1MO

+

10.00%),

15.27%,

7/8/2026(b)(d)

500,000

492,450

Gateway

Re

Ltd.,

Series

AA,

(T-BILL

1MO

+

5.50%),

10.77%,

7/8/2027(b)(d)

250,000

249,775

Liberty

Mutual

Insurance

Co.,

7.70%,

10/15/2097(b)

420,000

484,923

Metropolitan

Life

Global

Funding

I,

5.15%,

3/28/2033(b)

685,000

692,755

Residential

Reinsurance

2023

Ltd.,

Series

5,

(3

Month

Treasury

Bill

Rate

+

5.92%),

11.18%,

12/6/2027(b)(d)

250,000

250,575

Residential

Reinsurance

2023

Ltd.,

Series

3,

(T-BILL

1MO

+

8.42%),

13.81%,

12/6/2027(b)(d)

250,000

241,225

8,610,940

IT

Services

0.8%

Acuris

Finance

US,

Inc.,

9.00%,

8/1/2029(b)

3,905,000

3,944,050

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

15

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Media

0.8%

Charter

Communications

Operating

LLC,

6.65%,

2/1/2034

3,290,000

3,400,469

CSC

Holdings

LLC

11.75%,

1/31/2029(b)(f)

500,000

451,995

4.63%,

12/1/2030(b)

800,000

316,029

Diamond

Sports

Group

LLC,

6.63%,

8/15/2027(b)(e)

322,000

6,440

4,174,933

Metals

&

Mining

0.3%

Steel

Dynamics,

Inc.,

5.38%,

8/15/2034(f)

1,435,000

1,454,617

Multi-Utilities

0.4%

DTE

Energy

Co.,

5.10%,

3/1/2029(f)

2,230,000

2,250,382

Office

REITs

0.5%

COPT

Defense

Properties

LP,

2.90%,

12/1/2033(f)

1,850,000

1,493,704

Highwoods

Realty

LP

3.05%,

2/15/2030

834,000

726,131

2.60%,

2/1/2031(f)

466,000

382,797

2,602,632

Oil,

Gas

&

Consumable

Fuels

2.0%

Civitas

Resources,

Inc.

8.38%,

7/1/2028(b)

1,540,000

1,616,863

8.75%,

7/1/2031(b)

540,000

580,704

Energy

Transfer

LP,

Series

G,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.31%),

7.13%,

5/15/2030(d)(h)

859,000

856,262

Energy

Transfer

LP

6.55%,

12/1/2033

1,240,000

1,338,906

5.60%,

9/1/2034(f)

1,005,000

1,019,725

Hilcorp

Energy

I

LP,

6.88%,

5/15/2034(b)

3,145,000

3,128,806

Summit

Midstream

Holdings

LLC,

8.63%,

10/31/2029(b)(f)

1,645,000

1,681,788

10,223,054

Passenger

Airlines

0.1%

American

Airlines,

Inc.,

5.75%,

4/20/2029(b)(f)

190,000

185,669

Pharmaceuticals

0.5%

Royalty

Pharma

plc,

5.40%,

9/2/2034

2,345,000

2,343,103

Tricida

,

Inc.

3.50%,

5/15/2027^∞

1,430,000

0

2,343,103

Real

Estate

Management

&

Development

0.6%

Kennedy-Wilson,

Inc.,

4.75%,

2/1/2030(f)

3,590,000

3,068,269

Corporate

Bonds

Principal

Amount

($)

Value

($)

UNITED

STATES

Residential

REITs

1.0%

Sun

Communities

Operating

LP

5.50%,

1/15/2029

3,630,000

3,684,666

5.70%,

1/15/2033

1,330,000

1,339,084

5,023,750

Semiconductors

&

Semiconductor

Equipment

0.8%

Broadcom,

Inc.,

5.05%,

7/12/2029

2,125,000

2,151,174

Foundry

JV

Holdco

LLC

6.15%,

1/25/2032(b)

450,000

470,372

5.88%,

1/25/2034(b)

410,000

418,458

6.25%,

1/25/2035(b)

670,000

704,277

6.40%,

1/25/2038(b)(f)

450,000

477,824

4,222,105

Wireless

Telecommunication

Services

0.4%

T-Mobile

USA,

Inc.

5.05%,

7/15/2033(f)

1,110,000

1,111,668

5.75%,

1/15/2034

790,000

830,532

1,942,200

173,319,226

ZAMBIA

0.2%

Metals

&

Mining

0.2%

First

Quantum

Minerals

Ltd.,

9.38%,

3/1/2029(b)

855,000

899,244

Total

Corporate

Bonds

(cost

$298,644,897)

301,290,154

Mortgage-Backed

Securities

8.7%

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

TBA

3.50%,

8/25/2054

10,000,000

9,072,418

4.00%,

8/25/2054

9,000,000

8,433,768

6.50%,

8/25/2054

7,000,000

7,178,366

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

Conventional

Pool

TBA

6.00%,

8/25/2054

7,000,000

7,099,264

GNMA

TBA

6.00%,

8/15/2054

6,000,000

6,070,325

6.50%,

8/15/2054

6,000,000

6,112,005

Total

Mortgage-Backed

Securities

(cost

$43,571,699)

43,966,146

Foreign

Government

Securities

1.2%

SAUDI

ARABIA

0.3%

Kingdom

of

Saudi

Arabia,

5.75%,

1/16/2054

(b)

1,665,000

1,630,834

16

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Foreign

Government

Securities

Principal

Amount

($)

Value

($)

UNITED

ARAB

EMIRATES

0.9%

Uae

International

Government

Bond,

4.86%,

7/2/2034

(b)

4,335,000

4,377,548

Total

Foreign

Government

Securities

(cost

$5,963,486)

6,008,382

Supranational

0.2%

International

Bank

for

Reconstruction

&

Development

(SOFR

+

7.19%),

,

12.52%,

12/29/2027(b)

(d)

250,000

245,100

(SOFR

+

4.22%),

,

9.55%,

4/24/2028(b)(d)

250,000

252,975

(SOFR

+

12.22%),

,

17.55%,

4/24/2028(b)(d)

250,000

253,175

(SOFR

+

13.72%),

,

19.05%,

6/26/2028(b)(d)

250,000

246,525

Total

Supranational

(cost

$990,304)

997,775

Common

Stock

0.1%

Shares

MEXICO

0.1%

Passenger

Airlines

0.1%

Grupo

Aeromexico

SAB

de

CV

*^∞

21,107

424,836

Total

Common

Stock

(cost

$345,000)

424,836

Warrants

0.0%

†

Number

of

Warrants

UNITED

KINGDOM

0.0%

†

Trading

Companies

&

Distributors

0.0%

†

Avation

plc,

expiring

10/31/2026*

21,088

7,455

Total

Warrants

(cost

$0)

7,455

Loan

Participations

1.7%

Principal

Amount

($)

UNITED

STATES

1.7%

Broadline

Retail

0.2%

Amazon

Holdco,

Inc.,

1st

Lien

Term

Loan

B,

(TSFR12M

+

2.25%),

7.30%,

7/30/2031

(d)

1,050,000

1,050,000

Building

Products

0.1%

MITER

Brands

Acquisition

Holdco,

Inc.,

1st

Lien

Term

Loan

B,

(CME

Term

SOFR

1

Month

+

3.50%),

8.84%,

3/28/2031

(d)

300,000

300,696

Loan

Participations

Principal

Amount

($)

Value

($)

Chemicals

0.1%

Gates

Global

LLC,

1st

Lien

Term

Loan

B5,

(CME

Term

SOFR

1

Month

+

2.25%),

7.59%,

6/3/2031

(d)

321,600

322,002

Health

Care

Equipment

&

Supplies

0.1%

Sotera

Health

Holdings

LLC,

1st

Lien

Term

Loan,

(CME

Term

SOFR

1

Month

+

3.25%),

8.59%,

5/23/2031

(d)

791,878

790,643

IT

Services

0.4%

Fortress

Intermediate

3,

Inc.,

1st

Lien

Term

Loan,

(CME

Term

SOFR

1

Month

+

3.75%),

9.10%,

6/27/2031

(d)

2,189,000

2,189,000

Media

0.2%

Directv

Financing

LLC,

1st

Lien

Term

Loan,

(CME

Term

SOFR

1

Month

+

5.25%),

10.71%,

8/2/2029

(d)

506,150

504,991

Radiate

Holdco

LLC,

1st

Lien

Term

Loan,

(CME

Term

SOFR

1

Month

+

3.25%),

8.71%,

9/25/2026

(d)

814,125

675,887

1,180,878

0

Wireless

Telecommunication

Services

0.6%

Zegona

Holdco

Ltd.,

1st

Lien

Term

Loan

B,

(TSFR12M

+

4.25%),

9.48%,

7/10/2029

(d)

3,131,000

3,111,431

Total

Loan

Participations

(cost

$9,047,115)

8,944,650

Short-Term

Investment

1.6%

U.S.

Treasury

Obligation

1.6%

U.S.

Treasury

Bills,5.31%

8/27/2024

8,000,000

7,969,476

Total

Short-Term

Investment

(cost

$7,969,465)

7,969,476

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

17

Repurchase

Agreements

6.0%

Principal

Amount

($)

Value

($)

CF

Secured,

LLC

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$4,128,078,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$4,210,641.

(

i

)

4,127,466

4,127,466

HSBC

Securities,

Inc.

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,000,296,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$2,040,301.

(

i

)

2,000,000

2,000,000

ING

Financial

Services

LLC

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,742,

collateralized

by

U.S.

Government

Treasury

Securities,

4.38%,

maturing

5/15/2034;

total

market

value

$5,100,001.

(

i

)

5,000,000

5,000,000

Nomura

Securities

International,

Inc.

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,445,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$3,060,000.

(

i

)

3,000,000

3,000,000

Santander

US

Capital

Markets

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$6,100,905,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$6,222,923.

(

i

)

6,100,000

6,100,000

Repurchase

Agreements

Principal

Amount

($)

Value

($)

Societe

Generale

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$10,001,481,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$10,200,006.

(

i

)

10,000,000

10,000,000

Total

Repurchase

Agreements

(cost

$30,227,466)

30,227,466

Total

Investments

(cost

$559,233,688)

—

111.7%

564,500,219

Liabilities

in

excess

of

other

assets

—

(11.7)%

(59,326,000)

NET

ASSETS

—

100.0%

$

505,174,219

18

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

*

Denotes

a

non-income

producing

security.

^

Value

determined

using

significant

unobservable

inputs.

∞

Fair

valued

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

Variable

or

floating

rate

security,

the

interest

rate

of

which

adjusts

periodically

based

on

changes

in

current

interest

rates

and

prepayments

on

the

underlying

pool

of

assets.  The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(b)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$323,867,002

which

represents

64.11%

of

net

assets.

(c)

Step

Bond.

Coupon

rate

is

set

for

an

initial

period

and

then

increases

to

a

higher

coupon

rate

at

a

specific

date.

The

rate

shown

is

the

rate

as

of

July

31,

2024.

(d)

Variable

or

floating

rate

security,

linked

to

the

referenced

benchmark.

The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(e)

Security

in

default.

(f)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$36,837,412,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$30,227,466

and

by

$9,217,827

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

4.75%,

and

maturity

dates

ranging

from

8/15/2024

–

11/15/2053,

a

total

value

of

$39,445,293.

(g)

PIK-Payment-in-kind

security.

Income

may

be

in

cash

or

additional

notes,

at

the

discretion

of

the

issuer.

The

rate

disclosed

is

the

cash

rate.

(h)

Perpetual

Bond

Security.

The

rate

reflected

in

the

Statement

of

Investments

is

the

rate

in

effect

on

July

31,

2024.

The

maturity

date

reflects

the

next

call

date.

(

i

)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$30,227,466.

CLO

Collateralized

Loan

Obligations

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

GNMA

Government

National

Mortgage

Association

ICE

Intercontinental

Exchange

IO

Interest

only

LIBOR

London

Interbank

Offered

Rate

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

REIT

Real

Estate

Investment

Trust

REMICS

Real

Estate

Mortgage

Investment

Conduits

SOFR

Secured

Overnight

Financing

Rate

TBA

To

Be

Announced;

Security

is

subject

to

delayed

delivery

UMBS

Uniform

Mortgage-Backed

Securities

Currency:

EUR

Euro

USD

United

States

Dollar

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

19

Centrally

Cleared

Credit

default

swap

contracts

outstanding

-

buy

protection

as

of

July

31,

2024

1

:

Reference

Obligation/Index

Financing

Rate

Paid

by

the

Fund

(%)

Payment

Frequency

Maturity

Date

Implied

Credit

Spread

(%)

2

Notional

Amount

3

Upfront

Payments

(Receipts)

($)

4

Unrealized

Appreciation

(Depreciation)

($)

Value

($)

Darden

Restaurants,

Inc.

1.00

Quarterly

6/20/2029

0.52

USD

462,712

(10,150)

(168)

(10,318)

Markit

CDX

North

American

High

Yield

Index

Series

42-V1

5.00

Quarterly

6/20/2029

3.31

USD

93,700,000

(6,056,709)

(833,037)

(6,889,746)

(6,066,859)

(833,205)

(6,900,064)

As

of

July

31,

2024,

the

Fund

had

$4,498,432

segregated

as

collateral

for

credit

default

swap

contracts.

1

The

Fund,

as

a

buyer

of

credit

protection,

pays

periodic

payments

and

any

upfront

premium

to

the

protection

seller,

and

is

obligated

to

receive

a

contingent

payment,

upon

occurrence

of

a

credit

event

with

respect

to

an

underlying

reference

obligation,

as

defined

under

the

terms

of

each

individual

swap

contract.

2

Implied

credit

spreads

are

an

indication

of

the

seller’s

performance

risk,

related

to

the

likelihood

of

a

credit

event

occurring

that

would

require

a

seller

to

make

a

payment

to

a

buyer.

Implied

credit

spreads

are

used

to

determine

the

value

of

swap

contracts

and

reflect

the

cost

of

buying/selling

protection,

which

may

include

upfront

payments

made

to

enter

into

the

contract.

Therefore,

higher

spreads

would

indicate

a

greater

likelihood

that

a

seller

will

be

obligated

to

perform

(i.e.,

make

payment)

under

the

swap

contract.

Increasing

values,

in

absolute

terms

and

relative

notional

amounts,

are

also

indicative

of

greater

performance

risk.

Implied

credit

spreads

for

credit

default

swaps

on

credit

indices

are

linked

to

the

weighted

average

spread

across

the

underlying

reference

obligations

included

in

a

particular

index.

3

The

notional

amount

is

the

maximum

amount

that

a

seller

of

credit

protection

would

be

obligated

to

pay

and

a

buyer

of

credit

protection

would

receive,

upon

occurrence

of

a

credit

event.

4

Upfront

premiums

generally

related

to

payments

received

or

paid

at

the

initiation

of

the

swap

agreement

to

compensate

for

differences

between

the

stated

terms

of

the

swap

agreement

and

current

market

conditions

(credit

spreads,

interest

rates

and

other

relevant

factors).

Currency:

USD

United

States

dollar

20

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Forward

Foreign

Currency

Contracts

outstanding

as

of

July

31,

2024:

Currenc

y

Purchased

Currency

Sold

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

($)

USD

4,264,864

EUR

3,900,000

HSBC

BANK

USA,

N.A.

8/22/2024

39,949

USD

258,300

MXN

4,750,841

HSBC

BANK

USA,

N.A.

9/27/2024

5,548

Total

unrealized

appreciation

45,497

Net

unrealized

appreciation

45,497

Currency:

EUR

Euro

MXN

Mexican

peso

USD

United

States

dollar

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

U.S.

Treasury

2

Year

Note

74

9/2024

USD

15,197,172

96,902

Total

long

contracts

96,902

Short

Contracts

Euro-

Bobl

(8)

9/2024

EUR

(1,017,402)

(16,375)

Euro-Bund

(23)

9/2024

EUR

(3,328,774)

(84,640)

U.S.

Treasury

5

Year

Note

(936)

9/2024

USD

(100,985,625)

(883,365)

U.S.

Treasury

10

Year

Note

(152)

9/2024

USD

(16,995,500)

(257,249)

U.S.

Treasury

10

Year

Ultra

Note

(913)

9/2024

USD

(105,522,828)

(2,329,781)

U.S.

Treasury

Long

Bond

(50)

9/2024

USD

(6,039,062)

(151,961)

U.S.

Treasury

Ultra

Bond

(69)

9/2024

USD

(8,829,844)

(202,799)

Total

short

contracts

(3,926,170)

Net

contracts

(3,829,268)

As

of

July

31,

2024,

the

Fund

had

$4,553,717

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

EUR

Euro

USD

United

States

Dollar

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

21

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Asset-Backed

Securities

$

–

$

79,356,150

$

–

$

79,356,150

Collateralized

Mortgage

Obligations

–

65,205,590

–

65,205,590

Commercial

Mortgage-Backed

Securities

–

20,102,139

–

20,102,139

Common

Stock

–

–

424,836

424,836

Corporate

Bonds

Aerospace

&

Defense

–

1,260,601

–

1,260,601

Automobile

Components

–

1,094,092

–

1,094,092

Automobiles

–

6,691,975

–

6,691,975

Banks

–

72,288,410

–

72,288,410

22

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Level

1

Level

2

Level

3

Total

Assets:

Beverages

$

–

$

1,456,767

$

–

$

1,456,767

Building

Products

–

878,909

–

878,909

Capital

Markets

–

18,332,409

–

18,332,409

Chemicals

–

5,285,040

–

5,285,040

Commercial

Services

&

Supplies

–

5,204,674

–

5,204,674

Communications

Equipment

–

346,096

–

346,096

Consumer

Finance

–

17,158,929

–

17,158,929

Containers

&

Packaging

–

1,545,778

–

1,545,778

Diversified

Consumer

Services

–

749,661

–

749,661

Diversified

REITs

–

4,652,691

–

4,652,691

Diversified

Telecommunication

Services

–

4,737,569

–

4,737,569

Electric

Utilities

–

10,996,942

–

10,996,942

Electrical

Equipment

–

607,095

–

607,095

Energy

Equipment

&

Services

–

2,363,406

–

2,363,406

Financial

Services

–

28,633,983

–

28,633,983

Food

Products

–

2,687,487

–

2,687,487

Gas

Utilities

–

3,968,609

–

3,968,609

Ground

Transportation

–

3,590,097

–

3,590,097

Health

Care

Equipment

&

Supplies

–

1,052,016

–

1,052,016

Health

Care

Providers

&

Services

–

7,577,258

–

7,577,258

Health

Care

REITs

–

1,984,244

–

1,984,244

Hotels,

Restaurants

&

Leisure

–

13,006,006

–

13,006,006

Insurance

–

23,514,484

–

23,514,484

IT

Services

–

4,453,239

–

4,453,239

Media

–

4,174,933

–

4,174,933

Metals

&

Mining

–

4,129,558

–

4,129,558

Multi-Utilities

–

3,185,560

–

3,185,560

Office

REITs

–

2,602,632

–

2,602,632

Oil,

Gas

&

Consumable

Fuels

–

17,084,380

–

17,084,380

Passenger

Airlines

–

6,643,053

–

6,643,053

Pharmaceuticals

–

2,343,103

–

2,343,103

Real

Estate

Management

&

Development

–

3,068,269

–

3,068,269

Residential

REITs

–

5,023,750

–

5,023,750

Semiconductors

&

Semiconductor

Equipment

–

4,222,105

–

4,222,105

Tobacco

–

752,144

–

752,144

Wireless

Telecommunication

Services

–

1,942,200

–

1,942,200

Total

Corporate

Bonds

$

–

$

301,290,154

$

–

$

301,290,154

Foreign

Government

Securities

–

6,008,382

–

6,008,382

Forward

Foreign

Currency

Contracts

–

45,497

–

45,497

Futures

Contracts

96,902

–

–

96,902

Loan

Participations

–

8,944,650

–

8,944,650

Mortgage-Backed

Securities

–

43,966,146

–

43,966,146

Repurchase

Agreements

–

30,227,466

–

30,227,466

Short-Term

Investment

–

7,969,476

–

7,969,476

Supranational

–

997,775

–

997,775

Warrants

7,455

–

–

7,455

Total

Assets

$

104,357

$

564,113,425

$

424,836

$

564,642,618

Liabilities:

Credit

Default

Swaps†

$

–

$

(833,205)

$

–

$

(833,205)

Futures

Contracts

(3,926,170)

–

–

(3,926,170)

Total

Liabilities

$

(3,926,170)

$

(833,205)

$

–

$

(4,759,375)

Total

$

(3,821,813)

$

563,280,220

$

424,836

$

559,883,243

†

Swap

contracts

are

included

in

the

table

at

value,

with

the

exception

of

centrally

cleared

swap

contracts

which

are

included

in

the

table

at

unrealized

appreciation/(depreciation).

As

of

July

31,

2024,

the

fund

held

one

corporate

bond

investment

that

was

categorized

as

a

Level

3

investment

which

was

valued

at

$0.

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

23

The

following

is

a

reconciliation

of

assets

for

which

Level

3

inputs

were

used

in

determining

fair

value:

The

FVC

continues

to

evaluate

any

information

that

could

cause

an

adjustment

to

the

fair

value

for

these

investments,

such

as

market

news,

the

progress

of

judicial

and

regulatory

proceedings,

and

subadviser

recommendations. 

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using swap

contracts, forward

foreign

currency

contracts, and financial

futures

contracts.

(a)

Swap

Contracts             

Credit

Default

Swap

Contracts

— The

Fund entered

into

credit

default

swap

contracts.

Credit

default

swap

contracts

are

either

privately

negotiated

agreements

between

the

Fund

and

a

counterparty

or

traded

through

a

futures

commission

merchant

and

cleared

through

a

clearinghouse

that

serves

as

a

central

counterparty. 

Investments

in

credit

default

swap

contracts

are

utilized

to

expose

the

Fund’s

cash

holdings

to

the

investment

characteristics

and

performance

of

the

high-yield

bond

market

or

selected

credit

markets while

maintaining

liquidity

to

satisfy

shareholder

activity,

to

manage

broad

credit

market

spread

exposure

and/or

to

create

synthetic

long

and

short

exposure

to

select

credit

and sovereign

debt

securities,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

The

Fund

segregates

liquid

assets

to

cover

its

obligations

under

its

credit

default

swap

contracts.

The

upfront

premiums

are

amortized

and

accreted

daily

and

are

recorded

as

realized

gains

or

losses

upon

maturity

or

termination

of

the

credit

default

swap

contract.

As

the

protection

purchaser

in

a

credit

default

swap

contract,

the

Fund

pays

the

counterparty

a

periodic

stream

of

payments

over

the

term

of

the

contract,

provided

that

no

credit

event

or

default

(or

similar

event)

occurs.

However,

the

Fund

is

required

to

receive

the

par

(or

other

agreed-upon)

value

of

a

referenced

debt

obligation

from

the

counterparty

in

the

event

of

a

default

(or

similar

event)

by

a

third

party,

such

as

a

U.S.

or

foreign

issuer,

on

the

debt

obligation.

If

a

credit

event

or

default

(or

similar

event)

occurs,

the

Fund

either

(i)

receives

from

the

counterparty

an

amount

equal

to

the

notional

amount

of

the

swap

and

the

counterparty

takes

delivery

of

the

referenced

obligation,

other

deliverable

obligations

or

underlying

securities

comprising

the

referenced

index,

or

(ii)

receives

from

the

counterparty

a

net

settlement

amount

in

the

form

of

cash

or

securities

to

the

notional

amount

of

the

swap

and

the

recovery

value

of

the

referenced

obligation

or

underlying

securities

comprising

the

referenced

index.

As

the

purchaser

in

a

credit

default

swap

contract,

the

Fund’s

investment

would

generate

income

only

in

the

event

of

an

actual

default

(or

similar

event)

by

the

issuer

of

the

underlying

obligation. 

Credit

default

swap

contracts

are

marked-to-market

daily

based

on

valuations

from

independent

pricing

services.

Credit

default

swap

contracts

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

Implied

credit

spreads

are

utilized

in

determining

the

market

value

of

credit

default

swap

agreements

on

credit

indices

and

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

or

risk

of

default

for

the

credit

derivative.

Implied

credit

spreads

utilized

in

valuing

the

Fund’s

investments

as

of

July

31,

2024

are

disclosed

in

the

Statement

of

Investments.

The

implied

credit

spread

of

a

particular

referenced

entity

reflects

the

cost

of

selling

protection

on

such

entity’s

debt,

and

may

include

upfront

payments

required

to

be

made

to

enter

into

the

agreement.

For

credit

default

swap

agreements

on

credit

indices,

the

quoted

market

prices

and

resulting

value

serve

as

the

indicator

of

the

current

status

of

the

payment/performance

risk.

Wider

credit

spreads

represent

a

deterioration

of

the

referenced

entity’s

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

Common

Stocks

Total

Balance

as

of

10/31/2023

$

187,316

$

187,316

Accrued

Accretion/(Amortization)

—

—

Realized

Gains

(Losses)

—

—

Purchases

—

—

Sales

—

—

Change

in

Unrealized

Appreciation/Depreciation

237,520

237,520

Transfers

into

Level

3

—

—

Transfers

out

of

Level

3

—

—

Balance

as

of

7/31/2024

$

424,836

$

424,836

Change

in

Unrealized

Appreciation/Depreciation

for

Investments

Still

Held

as

of

7/31/2024

$

237,520

$

237,520

24

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Amundi

Strategic

Income

Fund

Certain

clearinghouses

currently

offer

clearing

for

limited

types

of

derivatives

transactions,

such

as

credit

derivatives.

In

a

centrally

cleared

credit

default

swap

contract,

immediately

following

execution

of

the

swap

agreement,

the

swap

agreement

is

novated

to

a

central

counterparty

(the

“CCP”)

and

the

Fund’s

counterparty

on

the

swap

agreement

becomes

the

CCP.

The

Fund

is

required

to

interface

with

the

CCP

through

a

broker.

Upon

entering

into

a

centrally

cleared

swap

contract,

the

Fund

is

required

to

deposit

initial

margin

with

the

broker

in

the

form

of

cash

or

securities

in

an

amount

that

varies

depending

on

the

size

and

risk

profile

of

the

particular

swap.

Securities

deposited

as

initial

margin

and

cash

pledged

as

collateral

are

designated

on

the

Statement

of

Investments,

as

applicable.

The

daily

change

in

valuation

of

centrally

cleared

credit

default

swap

contracts

is

recorded

as

a

receivable

or

payable

for

variation

margin

on

centrally

cleared

credit

default

swap

contracts.

Payments

received

from

(paid

to)

the

counterparty,

including

at

termination,

are

recorded

as

realized

gains

(losses).

(b)

Forward

Foreign

Currency

Contracts          

The

Fund

entered

into

forward

foreign

currency

contracts

in

connection

with

planned

purchases

or

sales

of

securities

denominated

in

a

foreign

currency

and/or

to

hedge

the

U.S.

dollar

value

of

portfolio

securities

denominated

in

a

foreign

currency,

to

express

a

view

on

a

foreign

currency

vs.

the

U.S.

dollar

or

other

foreign

currency,

to

hedge

the

U.S.

dollar

value

of

portfolio

securities

denominated

in

a

foreign

currency,

and/or

to

seek

to

protect

against

anticipated

changes

in

future

foreign

currency

exchange

rate,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

A

forward

foreign

currency

contract

involves

an

obligation

to

purchase

or

sell

a

specific

currency

at

a

future

date,

which

may

be

any

fixed

number

of

days

from

the

date

of

the

contract

agreed

upon

by

the

parties,

at

a

price

set

at

the

time

of

the

contract.

Forward

foreign

currency

contracts

are

generally

valued

at

the

mean

of

the

last

quoted

bid

and

ask

prices,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

2

investments

within

the

hierarchy.

The

market

value

of

a

forward

foreign

currency

contract

fluctuates

with

changes

in

foreign

currency

exchange

rates.

All

commitments

are

marked-to-market

daily

at

the

applicable

exchange

rates

and

any

resulting

unrealized

appreciation

or

depreciation

is

recorded.

Realized

gains

or

losses

are

recorded

at

the

time

the

forward

foreign

currency

contract

matures

or

at

the

time

of

delivery

of

the

currency.

Forward

foreign

currency

contracts

entail

the

risk

of

unanticipated

movements

in

the

value

of

the

foreign

currency

relative

to

the

U.S.

dollar,

and

the

risk

that

the

counterparties

to

the

contracts

may

be

unable

to

meet

their

obligations

under

the

contract.

(c)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

Nationwide

Amundi

Strategic

Income

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

25

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Assets:

Fair

Value

Forward

Foreign

Currency

Contracts

Currency

risk

Unrealized

appreciation

on

forward

foreign

currency

contracts

$

45,497

Futures

Contracts

Interest

rate

risk

Unrealized

appreciation

from

futures

contracts

96,902

Total

$

142,399

Liabilities:

Swap

Contracts†

Credit

risk

Unrealized

depreciation

on

centrally

cleared

swap

contracts

$

(833,205)

Futures

Contracts

Interest

rate

risk

Unrealized

depreciation

from

futures

contracts

(3,926,170)

Total

$

(4,759,375)

†

Swap

contracts

are

included

in

the

table

at

value,

with

the

exception

of

centrally

cleared

swap

contracts

which

are

included

in

the

table

at

unrealized

appreciation/(depreciation).

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

26

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bailard

International

Equities

Fund

Common

Stocks

98

.6

%

Shares

Value

($)

AUSTRALIA

3

.7

%

Banks

0

.6

%

National

Australia

Bank

Ltd.

45,000

1,137,993

Broadline

Retail

0

.8

%

Wesfarmers

Ltd.

32,000

1,541,908

Capital

Markets

0

.3

%

Macquarie

Group

Ltd.

5,000

687,069

Consumer

Staples

Distribution

&

Retail

0

.4

%

Woolworths

Group

Ltd.

40,000

902,634

Metals

&

Mining

1

.6

%

BHP

Group

Ltd.

40,000

1,110,570

Glencore

plc

220,000

1,217,984

Rio

Tinto

plc

15,000

971,146

3,299,700

7,569,304

BRAZIL

0

.9

%

Banks

0

.3

%

Banco

do

Brasil

SA

120,000

563,281

Chemicals

0

.3

%

Yara

International

ASA

20,000

569,542

Oil,

Gas

&

Consumable

Fuels

0

.3

%

Petroleo

Brasileiro

SA,

ADR

50,000

713,500

1,846,323

CHINA

1

.9

%

Automobiles

0

.2

%

BYD

Co.

Ltd.,

Class

H

15,000

442,625

Banks

0

.3

%

BOC

Hong

Kong

Holdings

Ltd.

200,000

581,239

Broadline

Retail

0

.6

%

Alibaba

Group

Holding

Ltd.,

ADR

7,000

551,950

PDD

Holdings,

Inc.,

ADR

*

7,000

902,230

1,454,180

Hotels,

Restaurants

&

Leisure

0

.3

%

Meituan,

Class

B

Reg.

S

*(a)

40,000

553,304

Interactive

Media

&

Services

0

.5

%

Tencent

Holdings

Ltd.

20,000

923,433

3,954,781

COLOMBIA

0

.2

%

Oil,

Gas

&

Consumable

Fuels

0

.2

%

Ecopetrol

SA,

ADR

(b)

40,000

428,800

DENMARK

4

.4

%

Banks

0

.6

%

Danske

Bank

A/S

40,000

1,223,730

Building

Products

0

.5

%

ROCKWOOL

A/S,

Class

B

2,500

1,105,907

Marine

Transportation

0

.5

%

AP

Moller

-

Maersk

A/S,

Class

B

600

994,432

Pharmaceuticals

2

.5

%

Novo

Nordisk

A/S,

Class

B

38,000

5,035,132

Textiles,

Apparel

&

Luxury

Goods

0

.3

%

Pandora

A/S

4,000

626,809

8,986,010

Common

Stocks

Shares

Value

($)

FRANCE

7

.0

%

Aerospace

&

Defense

0

.3

%

Airbus

SE

4,500

679,546

Banks

0

.4

%

BNP

Paribas

SA

12,000

821,935

Building

Products

0

.7

%

Cie

de

Saint-Gobain

SA

16,000

1,371,368

Chemicals

1

.1

%

Air

Liquide

SA

12,000

2,187,021

Electrical

Equipment

0

.4

%

Legrand

SA

7,000

754,938

Insurance

0

.4

%

AXA

SA

25,000

876,819

IT

Services

0

.3

%

Capgemini

SE

3,000

595,396

Media

0

.7

%

Publicis

Groupe

SA

13,000

1,356,826

Oil,

Gas

&

Consumable

Fuels

1

.2

%

TotalEnergies

SE

40,000

2,697,682

Personal

Care

Products

0

.5

%

L'Oreal

SA

2,500

1,082,586

Textiles,

Apparel

&

Luxury

Goods

1

.0

%

Hermes

International

SCA

250

546,086

LVMH

Moet

Hennessy

Louis

Vuitton

SE

2,000

1,409,624

1,955,710

14,379,827

GERMANY

7

.8

%

Air

Freight

&

Logistics

0

.4

%

Deutsche

Post

AG

20,000

892,824

Automobiles

0

.3

%

Bayerische

Motoren

Werke

AG

7,000

649,643

Construction

Materials

0

.6

%

Heidelberg

Materials

AG

12,000

1,252,570

Diversified

Telecommunication

Services

0

.8

%

Deutsche

Telekom

AG

(Registered)

65,000

1,698,688

Household

Products

0

.3

%

Henkel

AG

&

Co.

KGaA

(Preference)

8,000

684,840

Industrial

Conglomerates

1

.1

%

Siemens

AG

(Registered)

11,500

2,108,019

Insurance

1

.7

%

Allianz

SE

(Registered)

2,500

705,381

Muenchener

Rueckversicherungs-

Gesellschaft

AG

in

Muenchen

(Registered)

5,300

2,611,172

3,316,553

Multi-Utilities

0

.6

%

E.ON

SE

90,000

1,262,354

Semiconductors

&

Semiconductor

Equipment

0

.3

%

Infineon

Technologies

AG

20,000

693,135

Software

1

.1

%

SAP

SE

10,000

2,109,867

Nationwide

Bailard

International

Equities

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

27

Common

Stocks

Shares

Value

($)

GERMANY

Textiles,

Apparel

&

Luxury

Goods

0

.6

%

adidas

AG

5,000

1,250,919

15,919,412

HONG

KONG

0

.5

%

Food

Products

0

.2

%

WH

Group

Ltd.

Reg.

S

(a)

750,000

488,622

Insurance

0

.3

%

AIA

Group

Ltd.

75,000

499,863

988,485

ISRAEL

0

.5

%

Software

0

.5

%

Check

Point

Software

Technologies

Ltd.

*

6,000

1,100,700

ITALY

5

.7

%

Automobiles

0

.8

%

Ferrari

NV

4,000

1,645,706

Banks

2

.4

%

Intesa

Sanpaolo

SpA

475,000

1,926,129

UniCredit

SpA

70,000

2,871,552

4,797,681

Electric

Utilities

0

.8

%

Enel

SpA

235,000

1,675,900

Electrical

Equipment

1

.2

%

Prysmian

SpA

35,000

2,405,049

Insurance

0

.5

%

Generali

40,000

1,035,273

11,559,609

JAPAN

23

.5

%

Automobile

Components

0

.7

%

Denso

Corp.

40,000

665,026

Sumitomo

Electric

Industries

Ltd.

50,000

764,239

1,429,265

Automobiles

1

.8

%

Honda

Motor

Co.

Ltd.

75,000

803,492

Mazda

Motor

Corp.

100,000

905,861

Suzuki

Motor

Corp.

60,000

697,119

Toyota

Motor

Corp.

60,000

1,167,931

3,574,403

Banks

2

.1

%

Mitsubishi

UFJ

Financial

Group,

Inc.

200,000

2,324,174

Sumitomo

Mitsui

Financial

Group,

Inc.

13,000

941,240

Sumitomo

Mitsui

Trust

Holdings,

Inc.

30,000

756,765

4,022,179

Beverages

0

.9

%

Asahi

Group

Holdings

Ltd.

(b)

25,000

923,960

Kirin

Holdings

Co.

Ltd.

(b)

65,000

922,277

1,846,237

Chemicals

0

.9

%

Mitsubishi

Chemical

Group

Corp.

165,000

983,233

Shin-Etsu

Chemical

Co.

Ltd.

20,000

893,592

1,876,825

Consumer

Staples

Distribution

&

Retail

0

.4

%

Seven

&

i

Holdings

Co.

Ltd.

75,000

901,445

Common

Stocks

Shares

Value

($)

JAPAN

Electric

Utilities

0

.5

%

Kansai

Electric

Power

Co.,

Inc.

(The)

60,000

1,028,440

Electrical

Equipment

0

.8

%

Mitsubishi

Electric

Corp.

60,000

1,007,192

Nidec

Corp.

15,000

665,549

1,672,741

Electronic

Equipment,

Instruments

&

Components

0

.3

%

Murata

Manufacturing

Co.

Ltd.

32,000

707,708

Entertainment

0

.4

%

Nintendo

Co.

Ltd.

15,000

833,342

Financial

Services

0

.6

%

ORIX

Corp.

50,000

1,212,081

Health

Care

Equipment

&

Supplies

0

.8

%

Hoya

Corp.

6,500

812,280

Olympus

Corp.

45,000

772,651

1,584,931

Household

Durables

1

.4

%

Panasonic

Holdings

Corp.

100,000

799,461

Sekisui

Chemical

Co.

Ltd.

40,000

603,920

Sony

Group

Corp.

17,500

1,557,022

2,960,403

Industrial

Conglomerates

0

.8

%

Hitachi

Ltd.

75,000

1,620,934

Insurance

0

.9

%

Dai-ichi

Life

Holdings,

Inc.

30,000

922,040

Sompo

Holdings,

Inc.

40,000

912,802

1,834,842

IT

Services

1

.1

%

Fujitsu

Ltd.

50,000

892,914

NEC

Corp.

16,000

1,401,600

2,294,514

Machinery

1

.0

%

Komatsu

Ltd.

45,000

1,290,663

Kubota

Corp.

55,000

793,344

2,084,007

Media

0

.4

%

Dentsu

Group,

Inc.

30,000

800,489

Metals

&

Mining

0

.5

%

Nippon

Steel

Corp.

50,000

1,094,067

Personal

Care

Products

0

.4

%

Kao

Corp.

(b)

20,000

878,611

Pharmaceuticals

0

.8

%

Astellas

Pharma,

Inc.

90,000

1,051,008

Shionogi

&

Co.

Ltd.

15,000

659,944

1,710,952

Professional

Services

0

.7

%

Recruit

Holdings

Co.

Ltd.

25,000

1,428,842

Real

Estate

Management

&

Development

0

.5

%

Daito

Trust

Construction

Co.

Ltd.

8,000

963,610

Semiconductors

&

Semiconductor

Equipment

1

.7

%

Advantest

Corp.

20,000

873,294

Renesas

Electronics

Corp.

75,000

1,325,108

Tokyo

Electron

Ltd.

6,000

1,211,472

3,409,874

Specialty

Retail

0

.4

%

Fast

Retailing

Co.

Ltd.

3,000

823,885

28

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bailard

International

Equities

Fund

Common

Stocks

Shares

Value

($)

JAPAN

Technology

Hardware,

Storage

&

Peripherals

0

.6

%

Canon,

Inc.

40,000

1,263,615

Trading

Companies

&

Distributors

1

.4

%

Mitsubishi

Corp.

30,000

623,299

Mitsui

&

Co.

Ltd.

47,000

1,096,352

Sumitomo

Corp.

42,000

1,056,186

2,775,837

Wireless

Telecommunication

Services

0

.7

%

KDDI

Corp.

28,000

841,470

SoftBank

Corp.

40,000

525,607

1,367,077

48,001,156

NETHERLANDS

4

.6

%

Banks

0

.4

%

ING

Groep

NV

47,000

852,150

Consumer

Staples

Distribution

&

Retail

0

.3

%

Koninklijke

Ahold

Delhaize

NV

20,000

644,207

Entertainment

0

.5

%

Universal

Music

Group

NV

40,000

951,403

Professional

Services

1

.1

%

Wolters

Kluwer

NV

13,000

2,180,565

Semiconductors

&

Semiconductor

Equipment

2

.3

%

ASML

Holding

NV

(Registered),

ADR

5,000

4,683,500

9,311,825

NORWAY

1

.5

%

Banks

0

.6

%

DNB

Bank

ASA

60,000

1,238,813

Diversified

Telecommunication

Services

0

.6

%

Telenor

ASA

100,000

1,191,558

Food

Products

0

.3

%

Orkla

ASA

75,000

633,100

3,063,471

POLAND

0

.7

%

Insurance

0

.4

%

Powszechny

Zaklad

Ubezpieczen

SA

70,000

856,771

Oil,

Gas

&

Consumable

Fuels

0

.3

%

ORLEN

SA

35,000

570,980

1,427,751

SINGAPORE

1

.8

%

Banks

1

.0

%

DBS

Group

Holdings

Ltd.

40,000

1,096,768

United

Overseas

Bank

Ltd.

45,000

1,087,180

2,183,948

Capital

Markets

0

.4

%

Singapore

Exchange

Ltd.

100,000

736,428

Entertainment

0

.4

%

Sea

Ltd.,

ADR

*

12,000

788,400

3,708,776

SOUTH

KOREA

1

.9

%

Automobiles

0

.8

%

Kia

Corp.

20,000

1,617,769

Common

Stocks

Shares

Value

($)

SOUTH

KOREA

Banks

0

.5

%

KB

Financial

Group,

Inc.

15,000

954,564

Technology

Hardware,

Storage

&

Peripherals

0

.6

%

Samsung

Electronics

Co.

Ltd.

20,000

1,229,687

3,802,020

SPAIN

3

.9

%

Banks

1

.2

%

Banco

Bilbao

Vizcaya

Argentaria

SA

175,000

1,839,034

CaixaBank

SA

130,000

757,424

2,596,458

Construction

&

Engineering

0

.5

%

ACS

Actividades

de

Construccion

y

Servicios

SA

(b)

22,091

986,627

Diversified

Telecommunication

Services

0

.6

%

Telefonica

SA

(b)

250,000

1,130,296

Electric

Utilities

0

.4

%

Iberdrola

SA

*(b)

68,063

897,951

Specialty

Retail

0

.7

%

Industria

de

Diseno

Textil

SA

30,000

1,453,689

Transportation

Infrastructure

0

.5

%

Aena

SME

SA

Reg.

S

(a)

5,000

947,717

8,012,738

SWEDEN

4

.7

%

Banks

0

.6

%

Skandinaviska

Enskilda

Banken

AB,

Class

A

75,000

1,151,844

Commercial

Services

&

Supplies

0

.5

%

Securitas

AB,

Class

B

(b)

100,000

1,073,059

Communications

Equipment

0

.5

%

Telefonaktiebolaget

LM

Ericsson,

Class

B

150,000

1,026,535

Diversified

Telecommunication

Services

0

.5

%

Telia

Co.

AB

(b)

350,000

1,016,742

Financial

Services

0

.6

%

Investor

AB,

Class

B

40,000

1,133,310

Machinery

1

.4

%

Atlas

Copco

AB,

Class

B

100,000

1,562,059

Volvo

AB,

Class

B

60,000

1,529,242

3,091,301

Specialty

Retail

0

.6

%

H

&

M

Hennes

&

Mauritz

AB,

Class

B

(b)

75,000

1,163,064

9,655,855

SWITZERLAND

2

.1

%

Capital

Markets

0

.6

%

UBS

Group

AG

(Registered)

40,000

1,213,201

Insurance

0

.4

%

Zurich

Insurance

Group

AG

1,500

824,856

Pharmaceuticals

1

.1

%

Novartis

AG

(Registered)

20,000

2,242,087

4,280,144

Nationwide

Bailard

International

Equities

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

29

Common

Stocks

Shares

Value

($)

TAIWAN

1

.1

%

Semiconductors

&

Semiconductor

Equipment

1

.1

%

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.,

ADR

14,000

2,321,200

UNITED

KINGDOM

11

.0

%

Aerospace

&

Defense

0

.8

%

BAE

Systems

plc

50,000

834,670

Rolls-Royce

Holdings

plc

*

150,000

865,293

1,699,963

Banks

1

.7

%

Barclays

plc

500,000

1,495,038

HSBC

Holdings

plc

125,000

1,130,670

NatWest

Group

plc

170,000

802,261

3,427,969

Beverages

0

.7

%

Coca-Cola

Europacific

Partners

plc

10,000

737,700

Diageo

plc

25,000

778,631

1,516,331

Broadline

Retail

0

.5

%

Next

plc

8,000

934,561

Capital

Markets

1

.2

%

3i

Group

plc

60,000

2,409,852

Diversified

Consumer

Services

0

.5

%

Pearson

plc

75,000

1,016,408

Food

Products

0

.3

%

Associated

British

Foods

plc

22,000

701,192

Hotels,

Restaurants

&

Leisure

0

.5

%

InterContinental

Hotels

Group

plc

10,000

1,006,950

Household

Products

0

.3

%

Reckitt

Benckiser

Group

plc

10,000

536,717

Personal

Care

Products

1

.2

%

Unilever

plc

40,000

2,453,810

Pharmaceuticals

1

.5

%

AstraZeneca

plc,

ADR

40,000

3,166,000

Professional

Services

1

.4

%

Intertek

Group

plc

17,000

1,105,023

RELX

plc

37,500

1,769,208

2,874,231

Trading

Companies

&

Distributors

0

.4

%

Bunzl

plc

20,000

837,009

22,580,993

UNITED

STATES

9

.2

%

Automobiles

0

.2

%

Stellantis

NV

20,000

333,043

Construction

Materials

0

.7

%

Holcim

AG

15,000

1,403,866

Containers

&

Packaging

0

.6

%

Smurfit

WestRock

plc

*

26,000

1,153,473

Electrical

Equipment

1

.3

%

Schneider

Electric

SE

11,000

2,646,553

Food

Products

1

.3

%

Nestle

SA

(Registered)

27,000

2,740,790

Oil,

Gas

&

Consumable

Fuels

2

.0

%

BP

plc

400,000

2,359,045

Shell

plc

45,000

1,641,287

4,000,332

Common

Stocks

Shares

Value

($)

UNITED

STATES

Pharmaceuticals

2

.5

%

GSK

plc

90,000

1,742,937

Roche

Holding

AG

7,000

2,267,283

Sanofi

SA

12,000

1,234,094

5,244,314

Trading

Companies

&

Distributors

0

.6

%

Ferguson

plc

6,000

1,327,125

18,849,496

Total

Common

Stocks

(cost

$150,093,819)

201,748,676

Repurchase

Agreements

1

.9

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$1,863,465,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$1,900,734.(c)

1,863,188

1,863,188

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,000,296,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$2,040,301.(c)

2,000,000

2,000,000

Total

Repurchase

Agreements

(cost

$3,863,188)

3,863,188

Total

Investments

(cost

$153,957,007)

—

100.5%

205,611,864

Liabilities

in

excess

of

other

assets

—

(0.5)%

(

1,096,322

)

NET

ASSETS

—

100.0%

$

204,515,542

*

Denotes

a

non-income

producing

security.

(a)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$1,989,643

which

represents

0.97%

of

net

assets.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$6,138,128,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$3,863,188

and

by

$2,556,726

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.13%

–

5.41%,

and

maturity

dates

ranging

from

11/15/2024

–

8/15/2052,

a

total

value

of

$6,419,914.

(c)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$3,863,188.

30

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bailard

International

Equities

Fund

ADR

American

Depositary

Receipt

Preference

A

special

type

of

equity

investment

that

shares

in

the

earnings

of

the

company,

has

limited

voting

rights,

and

may

have

a

dividend

preference.

Preference

shares

may

also

have

liquidation

preference.

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

Nationwide

Bailard

International

Equities

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

31

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

32

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bailard

International

Equities

Fund

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

Aerospace

&

Defense

$

–

$

2,379,509

$

–

$

2,379,509

Air

Freight

&

Logistics

–

892,824

–

892,824

Automobile

Components

–

1,429,265

–

1,429,265

Automobiles

–

8,263,189

–

8,263,189

Banks

563,281

24,990,503

–

25,553,784

Beverages

737,700

2,624,868

–

3,362,568

Broadline

Retail

1,454,180

2,476,469

–

3,930,649

Building

Products

–

2,477,275

–

2,477,275

Capital

Markets

–

5,046,550

–

5,046,550

Chemicals

–

4,633,388

–

4,633,388

Commercial

Services

&

Supplies

–

1,073,059

–

1,073,059

Communications

Equipment

–

1,026,535

–

1,026,535

Construction

&

Engineering

–

986,627

–

986,627

Construction

Materials

–

2,656,436

–

2,656,436

Consumer

Staples

Distribution

&

Retail

–

2,448,286

–

2,448,286

Containers

&

Packaging

1,153,473

–

–

1,153,473

Diversified

Consumer

Services

–

1,016,408

–

1,016,408

Diversified

Telecommunication

Services

–

5,037,284

–

5,037,284

Electric

Utilities

–

3,602,291

–

3,602,291

Electrical

Equipment

–

7,479,281

–

7,479,281

Electronic

Equipment,

Instruments

&

Components

–

707,708

–

707,708

Entertainment

788,400

1,784,745

–

2,573,145

Financial

Services

–

2,345,391

–

2,345,391

Food

Products

633,100

3,930,604

–

4,563,704

Health

Care

Equipment

&

Supplies

–

1,584,931

–

1,584,931

Hotels,

Restaurants

&

Leisure

–

1,560,254

–

1,560,254

Household

Durables

–

2,960,403

–

2,960,403

Household

Products

–

1,221,557

–

1,221,557

Industrial

Conglomerates

–

3,728,953

–

3,728,953

Insurance

–

9,244,977

–

9,244,977

Interactive

Media

&

Services

–

923,433

–

923,433

IT

Services

–

2,889,910

–

2,889,910

Machinery

–

5,175,308

–

5,175,308

Marine

Transportation

–

994,432

–

994,432

Media

–

2,157,315

–

2,157,315

Metals

&

Mining

–

4,393,767

–

4,393,767

Multi-Utilities

–

1,262,354

–

1,262,354

Oil,

Gas

&

Consumable

Fuels

1,142,300

7,268,994

–

8,411,294

Personal

Care

Products

–

4,415,007

–

4,415,007

Pharmaceuticals

3,166,000

14,232,485

–

17,398,485

Professional

Services

–

6,483,638

–

6,483,638

Real

Estate

Management

&

Development

–

963,610

–

963,610

Semiconductors

&

Semiconductor

Equipment

7,004,700

4,103,009

–

11,107,709

Software

1,100,700

2,109,867

–

3,210,567

Specialty

Retail

–

3,440,638

–

3,440,638

Technology

Hardware,

Storage

&

Peripherals

–

2,493,302

–

2,493,302

Textiles,

Apparel

&

Luxury

Goods

–

3,833,438

–

3,833,438

Trading

Companies

&

Distributors

–

4,939,971

–

4,939,971

Transportation

Infrastructure

–

947,717

–

947,717

Wireless

Telecommunication

Services

–

1,367,077

–

1,367,077

Total

Common

Stocks

$

17,743,834

$

184,004,842

$

–

$

201,748,676

Repurchase

Agreements

–

3,863,188

–

3,863,188

Total

$

17,743,834

$

187,868,030

$

–

$

205,611,864

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Global

Sustainable

Equity

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

33

Common

Stocks

98

.6

%

Shares

Value

($)

BRAZIL

1

.0

%

Broadline

Retail

1

.0

%

MercadoLibre,

Inc.

*

1,304

2,176,246

CANADA

1

.4

%

Ground

Transportation

1

.4

%

Canadian

Pacific

Kansas

City

Ltd.

37,968

3,182,478

CHINA

0

.0

%

†

Chemicals

0

.0

%

†

Tianhe

Chemicals

Group

Ltd.

*^∞

2,702,000

0

DENMARK

0

.8

%

Biotechnology

0

.8

%

Genmab

A/S

*

6,087

1,721,267

FRANCE

3

.8

%

Automobile

Components

1

.1

%

Cie

Generale

des

Etablissements

Michelin

SCA

64,659

2,560,466

Food

Products

1

.0

%

Danone

SA

34,640

2,253,872

Insurance

1

.7

%

AXA

SA

110,448

3,873,718

8,688,056

GERMANY

1

.0

%

Machinery

1

.0

%

Knorr-Bremse

AG

26,814

2,161,483

INDIA

0

.5

%

Banks

0

.5

%

Axis

Bank

Ltd.,

GDR

Reg.

S

15,858

1,108,777

IRELAND

1

.6

%

Banks

1

.6

%

Bank

of

Ireland

Group

plc

(a)

327,332

3,697,800

ITALY

0

.9

%

Electrical

Equipment

0

.9

%

Prysmian

SpA

28,894

1,985,471

JAPAN

6

.1

%

Banks

1

.0

%

Mitsubishi

UFJ

Financial

Group,

Inc.

202,800

2,356,713

Diversified

Telecommunication

Services

1

.1

%

Nippon

Telegraph

&

Telephone

Corp.

2,338,900

2,494,853

Electronic

Equipment,

Instruments

&

Components

1

.2

%

Keyence

Corp.

6,400

2,784,193

Household

Durables

1

.7

%

Sony

Group

Corp.

42,300

3,763,548

Wireless

Telecommunication

Services

1

.1

%

SoftBank

Group

Corp.

42,100

2,580,974

13,980,281

NETHERLANDS

2

.4

%

Entertainment

0

.8

%

Universal

Music

Group

NV

77,318

1,839,014

Health

Care

Equipment

&

Supplies

1

.6

%

Koninklijke

Philips

NV

*

128,717

3,628,971

5,467,985

Common

Stocks

Shares

Value

($)

NORWAY

1

.4

%

Oil,

Gas

&

Consumable

Fuels

1

.4

%

Equinor

ASA

117,378

3,111,144

UNITED

KINGDOM

7

.5

%

Capital

Markets

2

.3

%

London

Stock

Exchange

Group

plc

42,411

5,168,309

Electronic

Equipment,

Instruments

&

Components

1

.0

%

Spectris

plc

60,417

2,359,053

Personal

Care

Products

1

.5

%

Unilever

plc

55,161

3,377,991

Pharmaceuticals

1

.6

%

AstraZeneca

plc

22,834

3,620,230

Trading

Companies

&

Distributors

1

.1

%

Ashtead

Group

plc

34,427

2,475,026

17,000,609

UNITED

STATES

70

.2

%

Automobile

Components

0

.9

%

Aptiv

plc

*

28,984

2,011,200

Automobiles

1

.1

%

Rivian

Automotive,

Inc.,

Class

A

*(a)

152,321

2,499,588

Banks

1

.1

%

Wells

Fargo

&

Co.

43,857

2,602,474

Biotechnology

3

.1

%

Moderna,

Inc.

*(a)

23,396

2,789,271

Vertex

Pharmaceuticals,

Inc.

*

8,521

4,224,030

7,013,301

Broadline

Retail

3

.3

%

Amazon.com,

Inc.

*

40,276

7,530,806

Building

Products

0

.9

%

Masco

Corp.

24,902

1,938,621

Capital

Markets

2

.3

%

Ameriprise

Financial,

Inc.

12,194

5,244,274

Chemicals

4

.1

%

CF

Industries

Holdings,

Inc.

32,220

2,461,286

Ecolab,

Inc.

13,020

3,003,584

Linde

plc

8,491

3,850,668

9,315,538

Commercial

Services

&

Supplies

2

.2

%

Montrose

Environmental

Group,

Inc.

*

56,445

1,800,031

MSA

Safety,

Inc.

(a)

10,610

2,001,577

Waste

Management,

Inc.

6,064

1,228,930

5,030,538

Construction

&

Engineering

0

.7

%

AECOM

17,393

1,575,980

Consumer

Staples

Distribution

&

Retail

1

.4

%

Costco

Wholesale

Corp.

3,901

3,206,622

Electrical

Equipment

1

.0

%

Regal

Rexnord

Corp.

(a)

14,112

2,267,516

Electronic

Equipment,

Instruments

&

Components

1

.9

%

Keysight

Technologies,

Inc.

*

14,613

2,039,536

Zebra

Technologies

Corp.,

Class

A

*

6,718

2,359,295

4,398,831

34

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Global

Sustainable

Equity

Fund

Common

Stocks

Shares

Value

($)

UNITED

STATES

Energy

Equipment

&

Services

1

.5

%

Schlumberger

NV

70,705

3,414,344

Entertainment

1

.3

%

Take-Two

Interactive

Software,

Inc.

*

19,940

3,001,568

Financial

Services

4

.6

%

Apollo

Global

Management,

Inc.

14,314

1,793,687

Fidelity

National

Information

Services,

Inc.

41,980

3,225,323

Visa,

Inc.,

Class

A

(a)

20,892

5,550,378

10,569,388

Health

Care

Equipment

&

Supplies

1

.1

%

Alcon,

Inc.

27,054

2,559,452

Health

Care

Providers

&

Services

2

.6

%

UnitedHealth

Group,

Inc.

10,284

5,925,229

Hotels,

Restaurants

&

Leisure

0

.9

%

Starbucks

Corp.

26,302

2,050,241

Insurance

1

.8

%

Marsh

&

McLennan

Cos.,

Inc.

18,145

4,038,533

Interactive

Media

&

Services

2

.8

%

Alphabet,

Inc.,

Class

A

37,334

6,404,274

IT

Services

0

.5

%

MongoDB,

Inc.,

Class

A

*

4,652

1,173,979

Leisure

Products

0

.6

%

Brunswick

Corp.

16,067

1,308,657

Life

Sciences

Tools

&

Services

0

.9

%

Bio-Rad

Laboratories,

Inc.,

Class

A

*

5,808

1,965,195

Machinery

1

.5

%

Ingersoll

Rand,

Inc.

(a)

34,283

3,442,013

Oil,

Gas

&

Consumable

Fuels

0

.8

%

Devon

Energy

Corp.

40,505

1,904,950

Personal

Care

Products

1

.1

%

Haleon

plc

536,690

2,410,780

Pharmaceuticals

2

.8

%

Eli

Lilly

&

Co.

7,856

6,318,345

Semiconductors

&

Semiconductor

Equipment

8

.7

%

Advanced

Micro

Devices,

Inc.

*

19,924

2,878,620

Broadcom,

Inc.

24,970

4,012,179

Intel

Corp.

65,859

2,024,506

Lattice

Semiconductor

Corp.

*

34,249

1,815,197

Micron

Technology,

Inc.

28,345

3,112,848

ON

Semiconductor

Corp.

*

20,809

1,628,304

Universal

Display

Corp.

(a)

13,943

3,103,991

Wolfspeed,

Inc.

*(a)

69,201

1,304,439

19,880,084

Software

10

.7

%

Adobe,

Inc.

*

4,866

2,684,329

Cadence

Design

Systems,

Inc.

*

11,316

3,028,841

Microsoft

Corp.

24,334

10,180,130

Salesforce,

Inc.

6,578

1,702,386

ServiceNow,

Inc.

*

6,031

4,911,586

Zscaler,

Inc.

*

8,939

1,603,210

24,110,482

Common

Stocks

Shares

Value

($)

UNITED

STATES

Specialty

Retail

2

.0

%

TJX

Cos.,

Inc.

(The)

40,316

4,556,514

159,669,317

Total

Common

Stocks

(cost

$171,163,396)

223,950,914

Repurchase

Agreements

2

.4

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,549,242,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$2,600,228.(b)

2,548,864

2,548,864

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,444,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$3,060,452.(b)

3,000,000

3,000,000

Total

Repurchase

Agreements

(cost

$5,548,864)

5,548,864

Total

Investments

(cost

$176,712,260)

—

101.0%

229,499,778

Liabilities

in

excess

of

other

assets

—

(1.0)%

(

2,174,218

)

NET

ASSETS

—

100.0%

$

227,325,560

*

Denotes

a

non-income

producing

security.

^

Value

determined

using

significant

unobservable

inputs.

∞

Fair

valued

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$12,740,638,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$5,548,864

and

by

$7,292,016

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

8/15/2024

–

2/15/2054,

a

total

value

of

$12,840,880.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$5,548,864.

Nationwide

Global

Sustainable

Equity

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

35

GDR

Global

Depositary

Receipt

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

36

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Global

Sustainable

Equity

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

Global

Sustainable

Equity

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

37

The

FVC

continues

to

evaluate

any

information

that

could

cause

an

adjustment

to

the

fair

value

for

these

investments,

such

as

market

news,

the

progress

of

judicial

and

regulatory

proceedings,

and

subadviser

recommendations. 

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

Automobile

Components

$

2,011,200

$

2,560,466

$

–

$

4,571,666

Automobiles

2,499,588

–

–

2,499,588

Banks

2,602,474

7,163,290

–

9,765,764

Biotechnology

7,013,301

1,721,267

–

8,734,568

Broadline

Retail

9,707,052

–

–

9,707,052

Building

Products

1,938,621

–

–

1,938,621

Capital

Markets

5,244,274

5,168,309

–

10,412,583

Chemicals

9,315,538

–

–

9,315,538

Commercial

Services

&

Supplies

5,030,538

–

–

5,030,538

Construction

&

Engineering

1,575,980

–

–

1,575,980

Consumer

Staples

Distribution

&

Retail

3,206,622

–

–

3,206,622

Diversified

Telecommunication

Services

–

2,494,853

–

2,494,853

Electrical

Equipment

2,267,516

1,985,471

–

4,252,987

Electronic

Equipment,

Instruments

&

Components

4,398,831

5,143,246

–

9,542,077

Energy

Equipment

&

Services

3,414,344

–

–

3,414,344

Entertainment

3,001,568

1,839,014

–

4,840,582

Financial

Services

10,569,388

–

–

10,569,388

Food

Products

–

2,253,872

–

2,253,872

Ground

Transportation

3,182,478

–

–

3,182,478

Health

Care

Equipment

&

Supplies

–

6,188,423

–

6,188,423

Health

Care

Providers

&

Services

5,925,229

–

–

5,925,229

Hotels,

Restaurants

&

Leisure

2,050,241

–

–

2,050,241

Household

Durables

–

3,763,548

–

3,763,548

Insurance

4,038,533

3,873,718

–

7,912,251

Interactive

Media

&

Services

6,404,274

–

–

6,404,274

IT

Services

1,173,979

–

–

1,173,979

Leisure

Products

1,308,657

–

–

1,308,657

Life

Sciences

Tools

&

Services

1,965,195

–

–

1,965,195

Machinery

3,442,013

2,161,483

–

5,603,496

Oil,

Gas

&

Consumable

Fuels

1,904,950

3,111,144

–

5,016,094

Personal

Care

Products

–

5,788,771

–

5,788,771

Pharmaceuticals

6,318,345

3,620,230

–

9,938,575

Semiconductors

&

Semiconductor

Equipment

19,880,084

–

–

19,880,084

Software

24,110,482

–

–

24,110,482

Specialty

Retail

4,556,514

–

–

4,556,514

Trading

Companies

&

Distributors

–

2,475,026

–

2,475,026

Wireless

Telecommunication

Services

–

2,580,974

–

2,580,974

Total

Common

Stocks

$

160,057,809

$

63,893,105

$

–

$

223,950,914

Repurchase

Agreements

–

5,548,864

–

5,548,864

Total

$

160,057,809

$

69,441,969

$

–

$

229,499,778

As

of

July

31,

2024,

the

fund

held

one

common

stock

investment

that

was

categorized

as

a

Level

3

investment

which

was

valued

at

$0.

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

38

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Small

Cap

Fund

Common

Stocks

97

.4

%

Shares

Value

($)

AUSTRALIA

4

.5

%

Chemicals

0

.2

%

Nufarm

Ltd.

(a)

370,356

1,129,026

Construction

&

Engineering

0

.2

%

Worley

Ltd.

(a)

129,600

1,293,498

Construction

Materials

0

.1

%

Brickworks

Ltd.

34,012

643,664

Containers

&

Packaging

0

.3

%

Orora

Ltd.

1,339,660

1,795,886

Diversified

REITs

0

.9

%

Charter

Hall

Group

292,679

2,439,481

Stockland

1,332,497

4,026,828

6,466,309

Financial

Services

0

.5

%

Liberty

Financial

Group

Ltd.

Reg.

S

927,149

2,237,081

Tyro

Payments

Ltd.

*(a)

1,428,081

907,130

3,144,211

Metals

&

Mining

0

.4

%

Bellevue

Gold

Ltd.

*

2,993,120

2,710,583

Oil,

Gas

&

Consumable

Fuels

0

.8

%

Whitehaven

Coal

Ltd.

1,056,488

5,313,848

Software

0

.3

%

SiteMinder

Ltd.

*(a)

469,036

1,732,251

Specialized

REITs

0

.8

%

National

Storage

REIT

3,000,468

4,867,254

29,096,530

AUSTRIA

2

.5

%

Banks

1

.8

%

Addiko

Bank

AG

81,930

1,861,308

BAWAG

Group

AG

Reg.

S

(b)

138,069

10,057,663

11,918,971

Construction

Materials

0

.2

%

Wienerberger

AG

36,176

1,281,138

Machinery

0

.5

%

ANDRITZ

AG

48,526

3,104,725

16,304,834

BELGIUM

0

.7

%

Banks

0

.7

%

KBC

Ancora

96,911

4,715,434

BRAZIL

0

.3

%

Software

0

.3

%

TOTVS

SA

441,200

2,164,600

CANADA

2

.7

%

Chemicals

0

.3

%

EcoSynthetix,

Inc.

*

536,020

1,650,009

Financial

Services

0

.0

%

†

Nuvei

Corp.

9,090

300,879

Metals

&

Mining

0

.6

%

Faraday

Copper

Corp.

*

2,459,273

1,478,432

Filo

Corp.

*

114,479

2,649,190

4,127,622

Oil,

Gas

&

Consumable

Fuels

1

.1

%

Advantage

Energy

Ltd.

*(a)

288,200

2,010,187

NuVista

Energy

Ltd.

*(a)

147,425

1,427,641

Parex

Resources,

Inc.

(a)

116,212

1,743,201

Common

Stocks

Shares

Value

($)

CANADA

Oil,

Gas

&

Consumable

Fuels

Peyto

Exploration

&

Development

Corp.

(a)

100,056

1,069,660

Whitecap

Resources,

Inc.

(a)

83,205

641,221

6,891,910

Real

Estate

Management

&

Development

0

.2

%

Colliers

International

Group,

Inc.

(a)

9,911

1,335,704

Software

0

.5

%

Lightspeed

Commerce,

Inc.

*(a)

237,131

3,175,184

17,481,308

CHILE

0

.2

%

Metals

&

Mining

0

.2

%

Lundin

Mining

Corp.

(a)

159,234

1,607,737

CHINA

1

.9

%

Automobile

Components

0

.2

%

Minth

Group

Ltd.

*

780,347

1,094,759

Biotechnology

0

.3

%

Zai

Lab

Ltd.,

ADR

*(a)

92,703

1,764,138

Gas

Utilities

0

.3

%

Beijing

Enterprises

Holdings

Ltd.

663,000

2,202,151

Independent

Power

and

Renewable

Electricity

Producers

0

.2

%

China

Datang

Corp.

Renewable

Power

Co.

Ltd.,

Class

H

(a)

4,988,000

1,330,879

Interactive

Media

&

Services

0

.1

%

Kanzhun

Ltd.,

ADR

55,929

759,516

Trading

Companies

&

Distributors

0

.8

%

BOC

Aviation

Ltd.

Reg.

S

(b)

587,500

5,154,868

12,306,311

DENMARK

1

.6

%

Beverages

0

.4

%

Royal

Unibrew

A/S

*

30,845

2,423,410

Biotechnology

0

.9

%

Ascendis

Pharma

A/S,

ADR

*

14,997

2,002,100

Zealand

Pharma

A/S,

Class

A

*

32,135

4,334,380

6,336,480

Marine

Transportation

0

.3

%

Dfds

A/S

66,051

1,811,216

10,571,106

FINLAND

0

.7

%

Automobile

Components

0

.1

%

Nokian

Renkaat

OYJ

(a)

85,866

783,100

Chemicals

0

.6

%

Kemira

OYJ

166,093

3,753,628

4,536,728

FRANCE

4

.3

%

Automobile

Components

0

.3

%

Valeo

SE

161,783

1,847,025

Construction

Materials

0

.2

%

Imerys

SA

14,322

486,452

Vicat

SACA

21,525

747,839

1,234,291

Energy

Equipment

&

Services

0

.5

%

Technip

Energies

NV

102,684

2,615,439

Nationwide

International

Small

Cap

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

39

Common

Stocks

Shares

Value

($)

FRANCE

Energy

Equipment

&

Services

Vallourec

SACA

*(a)

29,390

475,599

3,091,038

Financial

Services

0

.3

%

Wendel

SE

21,538

2,062,459

Gas

Utilities

0

.4

%

Rubis

SCA

83,111

2,600,522

Ground

Transportation

0

.2

%

Ayvens

SA

Reg.

S

(a)(b)

149,047

984,115

Household

Durables

0

.5

%

Kaufman

&

Broad

SA

98,871

3,378,515

Media

1

.0

%

JCDecaux

SE

*

335,296

6,976,968

Oil,

Gas

&

Consumable

Fuels

0

.2

%

Gaztransport

Et

Technigaz

SA

8,674

1,279,049

Passenger

Airlines

0

.5

%

Air

France-KLM

*(a)

396,473

3,521,274

Personal

Care

Products

0

.2

%

Interparfums

SA

20,355

1,033,827

28,009,083

GERMANY

3

.8

%

Aerospace

&

Defense

0

.8

%

Hensoldt

AG

(a)

138,452

5,132,244

Biotechnology

0

.3

%

Immatics

NV

*(a)

164,951

1,982,711

Diversified

Telecommunication

Services

0

.7

%

United

Internet

AG

(Registered)

(a)

195,673

4,341,043

Electronic

Equipment,

Instruments

&

Components

0

.5

%

Jenoptik

AG

114,346

3,265,833

Financial

Services

0

.3

%

Hypoport

SE

*(a)

6,169

1,834,720

Machinery

0

.2

%

KION

Group

AG

29,561

1,171,025

Professional

Services

0

.1

%

Bertrandt

AG

30,131

873,250

Real

Estate

Management

&

Development

0

.5

%

Sirius

Real

Estate

Ltd.

2,737,072

3,319,222

Semiconductors

&

Semiconductor

Equipment

0

.4

%

AIXTRON

SE

(a)

117,661

2,747,970

24,668,018

HONG

KONG

1

.1

%

Banks

1

.1

%

Dah

Sing

Financial

Holdings

Ltd.

2,655,277

6,950,343

INDIA

0

.4

%

Hotels,

Restaurants

&

Leisure

0

.2

%

MakeMyTrip

Ltd.

*(a)

12,601

1,179,328

Machinery

0

.2

%

Ashok

Leyland

Ltd.

477,245

1,468,612

2,647,940

ISRAEL

2

.7

%

IT

Services

1

.0

%

Wix.com

Ltd.

*

39,549

6,166,678

Common

Stocks

Shares

Value

($)

ISRAEL

Oil,

Gas

&

Consumable

Fuels

0

.1

%

Energean

plc

74,031

951,170

Real

Estate

Management

&

Development

0

.4

%

Melisron

Ltd.

39,821

2,783,542

Software

1

.2

%

Sapiens

International

Corp.

NV

186,785

7,265,936

17,167,326

ITALY

4

.8

%

Banks

0

.7

%

Banca

Monte

dei

Paschi

di

Siena

SpA

593,839

3,234,347

BPER

Banca

SpA

225,097

1,314,480

4,548,827

Construction

Materials

0

.3

%

Buzzi

SpA

42,438

1,663,570

Electrical

Equipment

0

.1

%

Eurogroup

Laminations

SpA

(a)

226,267

844,532

Energy

Equipment

&

Services

0

.1

%

Saipem

SpA

*

335,793

797,627

Financial

Services

1

.0

%

Banca

Mediolanum

SpA

178,258

2,103,163

BFF

Bank

SpA

Reg.

S

(b)

337,558

3,805,315

5,908,478

Gas

Utilities

0

.4

%

Italgas

SpA

517,149

2,766,096

Health

Care

Equipment

&

Supplies

0

.5

%

DiaSorin

SpA

29,527

3,224,423

Household

Durables

0

.6

%

De'

Longhi

SpA

(a)

121,358

3,822,822

Life

Sciences

Tools

&

Services

0

.2

%

Stevanato

Group

SpA

(a)

71,095

1,470,245

Semiconductors

&

Semiconductor

Equipment

0

.4

%

Technoprobe

SpA

*

252,822

2,302,667

Textiles,

Apparel

&

Luxury

Goods

0

.5

%

Brunello

Cucinelli

SpA

37,117

3,461,686

30,810,973

JAPAN

29

.4

%

Automobile

Components

0

.5

%

Koito

Manufacturing

Co.

Ltd.

87,800

1,310,336

Nifco,

Inc.

63,060

1,618,875

2,929,211

Banks

2

.7

%

Kyoto

Financial

Group,

Inc.

229,764

4,331,952

Mebuki

Financial

Group,

Inc.

1,132,700

4,742,853

Rakuten

Bank

Ltd.

*

219,000

4,856,548

Shiga

Bank

Ltd.

(The)

131,800

3,566,129

17,497,482

Broadline

Retail

0

.5

%

ASKUL

Corp.

222,182

3,148,303

Building

Products

0

.4

%

Lixil

Corp.

98,400

1,142,416

Sanwa

Holdings

Corp.

57,700

1,234,398

2,376,814

Chemicals

2

.4

%

ADEKA

Corp.

33,800

721,392

Air

Water,

Inc.

93,100

1,366,056

40

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Small

Cap

Fund

Common

Stocks

Shares

Value

($)

JAPAN

Chemicals

Daicel

Corp.

70,600

686,347

Denka

Co.

Ltd.

21,800

317,719

Kansai

Paint

Co.

Ltd.

65,100

1,063,944

Lintec

Corp.

29,700

668,912

Mitsubishi

Gas

Chemical

Co.,

Inc.

54,700

1,051,377

Nippon

Shokubai

Co.

Ltd.

52,600

572,623

NOF

Corp.

79,900

1,145,195

Resonac

Holdings

Corp.

(a)

50,600

1,259,754

Shin-Etsu

Polymer

Co.

Ltd.

80,100

854,856

Sumitomo

Bakelite

Co.

Ltd.

34,300

968,035

Sumitomo

Chemical

Co.

Ltd.

396,000

1,029,208

Teijin

Ltd.

54,700

526,672

Tokyo

Ohka

Kogyo

Co.

Ltd.

113,300

2,907,213

UBE

Corp.

35,800

643,151

15,782,454

Commercial

Services

&

Supplies

0

.2

%

Kokuyo

Co.

Ltd.

91,400

1,538,323

Construction

&

Engineering

1

.3

%

COMSYS

Holdings

Corp.

52,500

1,135,857

EXEO

Group,

Inc.

100,000

1,096,438

INFRONEER

Holdings,

Inc.

55,600

484,203

JGC

Holdings

Corp.

80,800

689,623

Kinden

Corp.

36,900

784,473

Kyudenko

Corp.

24,900

1,157,515

MIRAIT

ONE

Corp.

51,900

738,163

Penta-Ocean

Construction

Co.

Ltd.

99,100

442,270

Shimizu

Corp.

174,300

1,100,049

SHO-BOND

Holdings

Co.

Ltd.

15,600

601,554

8,230,145

Construction

Materials

0

.1

%

Taiheiyo

Cement

Corp.

28,400

777,620

Consumer

Finance

0

.9

%

Marui

Group

Co.

Ltd.

361,345

5,868,789

Consumer

Staples

Distribution

&

Retail

0

.1

%

Sundrug

Co.

Ltd.

17,323

481,023

Containers

&

Packaging

0

.2

%

FP

Corp.

91,300

1,572,289

Distributors

0

.3

%

PALTAC

Corp.

70,900

2,176,250

Electric

Utilities

1

.4

%

Kyushu

Electric

Power

Co.,

Inc.

878,200

9,194,817

Electronic

Equipment,

Instruments

&

Components

0

.2

%

Canon

Marketing

Japan,

Inc.

(a)

45,500

1,414,507

Financial

Services

0

.4

%

GMO

Financial

Gate,

Inc.

29,540

1,320,460

GMO

Payment

Gateway,

Inc.

21,456

1,224,152

2,544,612

Ground

Transportation

0

.2

%

Fukuyama

Transporting

Co.

Ltd.

(a)

45,200

1,219,345

Hotel

&

Resort

REITs

0

.8

%

Invincible

Investment

Corp.

11,160

5,078,501

Household

Durables

1

.3

%

Casio

Computer

Co.

Ltd.

225,000

1,819,661

Nikon

Corp.

278,300

3,205,413

Common

Stocks

Shares

Value

($)

JAPAN

Household

Durables

Sumitomo

Forestry

Co.

Ltd.

76,542

3,230,741

8,255,815

Industrial

Conglomerates

0

.8

%

Hikari

Tsushin,

Inc.

28,283

5,288,816

Leisure

Products

1

.1

%

Roland

Corp.

1,400

36,449

Sega

Sammy

Holdings,

Inc.

328,785

5,351,461

Yamaha

Corp.

82,722

1,974,590

7,362,500

Machinery

2

.6

%

Amada

Co.

Ltd.

129,900

1,535,525

DMG

Mori

Co.

Ltd.

48,000

1,227,246

Ebara

Corp.

149,600

2,160,598

IHI

Corp.

53,300

1,946,654

Japan

Steel

Works

Ltd.

(The)

21,000

595,576

Kawasaki

Heavy

Industries

Ltd.

59,300

2,193,412

Kurita

Water

Industries

Ltd.

25,800

1,101,930

Miura

Co.

Ltd.

33,100

766,261

Nabtesco

Corp.

50,100

989,492

NGK

Insulators

Ltd.

73,300

990,255

NSK

Ltd.

105,100

555,683

Sumitomo

Heavy

Industries

Ltd.

53,600

1,446,167

THK

Co.

Ltd.

58,300

1,103,810

16,612,609

Media

1

.0

%

Hakuhodo

DY

Holdings,

Inc.

(a)

770,854

6,308,281

Pharmaceuticals

0

.2

%

Nxera

Pharma

Co.

Ltd.

*

142,400

1,587,582

Professional

Services

3

.1

%

BayCurrent

Consulting,

Inc.

(a)

58,797

1,783,162

en

Japan,

Inc.

172,700

3,256,153

Persol

Holdings

Co.

Ltd.

1,556,000

2,679,359

TechnoPro

Holdings,

Inc.

470,856

9,101,059

Timee,

Inc.

*

108,300

1,048,263

Visional,

Inc.

*

23,673

1,248,914

19,116,910

Real

Estate

Management

&

Development

2

.2

%

Daito

Trust

Construction

Co.

Ltd.

43,706

5,264,442

SRE

Holdings

Corp.

*(a)

77,700

2,461,820

Tokyu

Fudosan

Holdings

Corp.

891,715

6,457,173

14,183,435

Semiconductors

&

Semiconductor

Equipment

1

.1

%

Shinko

Electric

Industries

Co.

Ltd.

49,100

1,865,841

Socionext,

Inc.

76,800

1,548,234

Ulvac,

Inc.

(a)

61,800

3,784,454

7,198,529

Software

0

.4

%

Rakus

Co.

Ltd.

80,800

1,133,485

Sansan,

Inc.

*

111,381

1,657,862

2,791,347

Specialty

Retail

1

.5

%

ABC-Mart,

Inc.

208,712

4,103,913

Adastria

Co.

Ltd.

16,700

370,311

Shimamura

Co.

Ltd.

109,383

5,380,644

9,854,868

Textiles,

Apparel

&

Luxury

Goods

0

.5

%

Asics

Corp.

202,900

3,319,142

Trading

Companies

&

Distributors

0

.6

%

Inaba

Denki

Sangyo

Co.

Ltd.

35,900

942,567

Sojitz

Corp.

79,880

1,907,626

Nationwide

International

Small

Cap

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

41

Common

Stocks

Shares

Value

($)

JAPAN

Trading

Companies

&

Distributors

Yamazen

Corp.

70,900

735,677

3,585,870

Transportation

Infrastructure

0

.4

%

Japan

Airport

Terminal

Co.

Ltd.

63,300

2,314,711

189,610,900

JERSEY

1

.2

%

Metals

&

Mining

1

.2

%

Metals

Acquisition

Ltd.

CRDI

*(a)

583,960

7,469,921

MEXICO

0

.4

%

Ground

Transportation

0

.1

%

Grupo

Traxion

SAB

de

CV,

Class

A

Reg.

S

*(a)(b)

613,300

736,711

Real

Estate

Management

&

Development

0

.3

%

Corp.

Inmobiliaria

Vesta

SAB

de

CV

527,314

1,544,214

2,280,925

NETHERLANDS

1

.7

%

Biotechnology

0

.3

%

Merus

NV

*

36,892

1,956,752

Chemicals

0

.1

%

Corbion

NV

28,245

630,800

Oil,

Gas

&

Consumable

Fuels

0

.9

%

Koninklijke

Vopak

NV

133,320

5,948,103

Professional

Services

0

.4

%

Arcadis

NV

38,697

2,765,281

11,300,936

NEW

ZEALAND

0

.1

%

Building

Products

0

.1

%

Fletcher

Building

Ltd.

337,783

626,821

NORWAY

1

.0

%

Energy

Equipment

&

Services

0

.2

%

DOF

Group

ASA

*

39,688

410,681

Seadrill

Ltd.

*

16,287

895,948

1,306,629

Industrial

Conglomerates

0

.3

%

Aker

ASA,

Class

A

28,244

1,656,772

Insurance

0

.5

%

Storebrand

ASA

339,007

3,400,008

6,363,409

SINGAPORE

1

.6

%

Ground

Transportation

0

.1

%

ComfortDelGro

Corp.

Ltd.

826,200

865,494

Real

Estate

Management

&

Development

0

.5

%

UOL

Group

Ltd.

782,300

3,148,999

Specialized

REITs

0

.2

%

Keppel

DC

REIT

739,600

1,120,057

Transportation

Infrastructure

0

.8

%

SATS

Ltd.

2,218,812

5,450,867

10,585,417

Common

Stocks

Shares

Value

($)

SLOVENIA

0

.6

%

Banks

0

.6

%

Nova

Ljubljanska

Banka

dd,

GDR

Reg.

S

143,825

4,078,338

SOUTH

KOREA

0

.3

%

Semiconductors

&

Semiconductor

Equipment

0

.3

%

Eugene

Technology

Co.

Ltd.

63,108

2,128,962

SPAIN

1

.3

%

Machinery

0

.8

%

Fluidra

SA

220,415

4,898,536

Pharmaceuticals

0

.5

%

Almirall

SA

(a)

351,414

3,499,791

8,398,327

SWEDEN

1

.7

%

Containers

&

Packaging

0

.4

%

Billerud

Aktiebolag

(a)

283,478

2,852,040

Leisure

Products

0

.4

%

Thule

Group

AB

Reg.

S

(b)

83,102

2,294,727

Machinery

0

.4

%

Trelleborg

AB,

Class

B

72,739

2,696,897

Real

Estate

Management

&

Development

0

.5

%

Cibus

Nordic

Real

Estate

AB

publ

(a)

184,061

2,873,329

10,716,993

SWITZERLAND

2

.0

%

Life

Sciences

Tools

&

Services

1

.8

%

Siegfried

Holding

AG

(Registered)

4,708

5,489,994

Tecan

Group

AG

(Registered)

15,438

5,743,270

11,233,264

Real

Estate

Management

&

Development

0

.2

%

PSP

Swiss

Property

AG

(Registered)

11,937

1,595,568

12,828,832

TAIWAN

1

.6

%

Electronic

Equipment,

Instruments

&

Components

0

.8

%

Chroma

ATE,

Inc.

536,209

4,974,740

Semiconductors

&

Semiconductor

Equipment

0

.8

%

ASPEED

Technology,

Inc.

25,000

3,163,129

Nanya

Technology

Corp.

*

1,354,000

2,388,789

5,551,918

10,526,658

UNITED

KINGDOM

20

.9

%

Beverages

0

.2

%

Britvic

plc

62,502

1,020,999

Biotechnology

1

.0

%

Autolus

Therapeutics

plc,

ADR

*(a)

371,253

1,741,177

Genus

plc

79,634

1,873,699

Immunocore

Holdings

plc,

ADR

*(a)

68,749

2,729,335

6,344,211

Broadline

Retail

0

.8

%

B&M

European

Value

Retail

SA

825,288

4,972,391

Capital

Markets

0

.8

%

Allfunds

Group

plc

388,513

2,335,996

Intermediate

Capital

Group

plc

91,140

2,569,056

4,905,052

42

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Small

Cap

Fund

Common

Stocks

Shares

Value

($)

UNITED

KINGDOM

Chemicals

0

.6

%

Elementis

plc

1,322,131

2,723,160

Synthomer

plc

*

305,778

1,040,768

3,763,928

Consumer

Staples

Distribution

&

Retail

1

.0

%

Marks

&

Spencer

Group

plc

1,503,222

6,352,835

Distributors

0

.5

%

Inchcape

plc

310,296

3,367,514

Electronic

Equipment,

Instruments

&

Components

0

.7

%

Spectris

plc

122,978

4,801,821

Energy

Equipment

&

Services

0

.3

%

Subsea

7

SA

100,898

1,940,382

Food

Products

0

.6

%

Tate

&

Lyle

plc

440,485

3,727,395

Health

Care

Equipment

&

Supplies

0

.7

%

ConvaTec

Group

plc

Reg.

S

(b)

1,525,883

4,597,280

Hotels,

Restaurants

&

Leisure

2

.0

%

Deliveroo

plc,

Class

A

Reg.

S

*(b)

1,212,944

2,056,001

Greggs

plc

91,250

3,675,016

Trainline

plc

Reg.

S

*(b)

1,614,522

7,055,527

12,786,544

Household

Durables

0

.4

%

Bellway

plc

69,957

2,572,777

Industrial

Conglomerates

0

.9

%

Smiths

Group

plc

260,494

5,974,433

Insurance

1

.8

%

Beazley

plc

939,023

8,263,198

Sabre

Insurance

Group

plc

Reg.

S

(b)

1,534,741

3,121,173

11,384,371

IT

Services

1

.1

%

Softcat

plc

336,306

7,038,733

Machinery

2

.4

%

IMI

plc

350,671

8,525,562

Rotork

plc

1,663,122

7,729,578

16,255,140

Marine

Transportation

0

.1

%

Clarkson

plc

11,331

661,062

Metals

&

Mining

0

.1

%

Hill

&

Smith

plc

17,157

507,065

Oil,

Gas

&

Consumable

Fuels

0

.2

%

Harbour

Energy

plc

264,046

1,063,917

Pharmaceuticals

0

.7

%

Verona

Pharma

plc,

ADR

*(a)

190,913

4,326,089

Retail

REITs

2

.1

%

Hammerson

plc

24,305,881

9,001,050

Shaftesbury

Capital

plc

2,686,826

5,258,460

14,259,510

Specialized

REITs

0

.5

%

Big

Yellow

Group

plc

190,512

2,968,099

Specialty

Retail

0

.5

%

WH

Smith

plc

192,658

3,275,165

Trading

Companies

&

Distributors

0

.5

%

RS

GROUP

plc

304,962

3,215,363

Common

Stocks

Shares

Value

($)

UNITED

KINGDOM

Water

Utilities

0

.4

%

Pennon

Group

plc

362,434

2,891,076

134,973,152

UNITED

STATES

1

.2

%

Building

Products

0

.2

%

Reliance

Worldwide

Corp.

Ltd.

377,898

1,280,533

Professional

Services

1

.0

%

Fiverr

International

Ltd.

*(a)

257,016

6,710,688

7,991,221

ZAMBIA

0

.2

%

Metals

&

Mining

0

.2

%

First

Quantum

Minerals

Ltd.

79,729

975,932

Total

Common

Stocks

(cost

$554,486,342)

629,895,015

Exchange

Traded

Fund

1

.4

%

UNITED

STATES

1

.4

%

iShares

MSCI

EAFE

Small-Cap

ETF

142,590

9,238,406

Total

Exchange

Traded

Fund

(cost

$9,245,787)

9,238,406

Rights

0

.0

%

†

Number

of

Rights

FRANCE

0

.0

%

†

Biotechnology

0

.0

%

†

Clementia

Pharmaceuticals,

Inc.,

CVR*^∞

16,268

0

Total

Rights

(cost

$0)

0

Repurchase

Agreements

4

.4

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$1,773,724,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$1,809,199.(c)

1,773,461

1,773,461

Nomura

Securities

International,

Inc.,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$10,001,484,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$10,200,001.(c)

10,000,000

10,000,000

Nationwide

International

Small

Cap

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

43

Repurchase

Agreements

Principal

Amount

($)

Value

($)

Santander

US

Capital

Markets,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$10,001,484,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$10,201,513.(c)

10,000,000

10,000,000

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$7,001,037,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$7,140,004.(c)

7,000,000

7,000,000

Total

Repurchase

Agreements

(cost

$28,773,461)

28,773,461

Total

Investments

(cost

$592,505,590)

—

103.2%

667,906,882

Liabilities

in

excess

of

other

assets

—

(3.2)%

(

20,970,443

)

NET

ASSETS

—

100.0%

$

646,936,439

*

Denotes

a

non-income

producing

security.

^

Value

determined

using

significant

unobservable

inputs.

∞

Fair

valued

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$45,145,830,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$28,773,461

and

by

$18,474,400

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

8/15/2024

–

11/15/2053,

a

total

value

of

$47,247,861.

(b)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$39,863,380

which

represents

6.16%

of

net

assets.

(c)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$28,773,461.

ADR

American

Depositary

Receipt

CVR

Contingent

Value

Rights

ETF

Exchange

Traded

Fund

GDR

Global

Depositary

Receipt

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

REIT

Real

Estate

Investment

Trust

44

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Small

Cap

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

International

Small

Cap

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

45

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

Aerospace

&

Defense

$

–

$

5,132,244

$

–

$

5,132,244

Automobile

Components

–

6,654,095

–

6,654,095

Banks

–

49,709,395

–

49,709,395

Beverages

–

3,444,409

–

3,444,409

Biotechnology

12,176,213

6,208,079

–

18,384,292

Broadline

Retail

–

8,120,694

–

8,120,694

Building

Products

–

4,284,168

–

4,284,168

Capital

Markets

–

4,905,052

–

4,905,052

Chemicals

1,650,009

25,059,836

–

26,709,845

Commercial

Services

&

Supplies

–

1,538,323

–

1,538,323

Construction

&

Engineering

–

9,523,643

–

9,523,643

Construction

Materials

–

5,600,283

–

5,600,283

Consumer

Finance

–

5,868,789

–

5,868,789

Consumer

Staples

Distribution

&

Retail

–

6,833,858

–

6,833,858

Containers

&

Packaging

–

6,220,215

–

6,220,215

Distributors

–

5,543,764

–

5,543,764

Diversified

REITs

–

6,466,309

–

6,466,309

Diversified

Telecommunication

Services

–

4,341,043

–

4,341,043

Electric

Utilities

–

9,194,817

–

9,194,817

Electrical

Equipment

–

844,532

–

844,532

Electronic

Equipment,

Instruments

&

Components

–

14,456,901

–

14,456,901

Energy

Equipment

&

Services

1,306,629

5,829,047

–

7,135,676

Financial

Services

300,879

15,494,480

–

15,795,359

Food

Products

–

3,727,395

–

3,727,395

Gas

Utilities

–

7,568,769

–

7,568,769

Ground

Transportation

736,711

3,068,954

–

3,805,665

Health

Care

Equipment

&

Supplies

–

7,821,703

–

7,821,703

Hotel

&

Resort

REITs

–

5,078,501

–

5,078,501

Hotels,

Restaurants

&

Leisure

1,179,328

12,786,544

–

13,965,872

Household

Durables

–

18,029,929

–

18,029,929

Independent

Power

and

Renewable

Electricity

Producers

–

1,330,879

–

1,330,879

Industrial

Conglomerates

–

12,920,021

–

12,920,021

Insurance

–

14,784,379

–

14,784,379

Interactive

Media

&

Services

759,516

–

–

759,516

IT

Services

6,166,678

7,038,733

–

13,205,411

Leisure

Products

–

9,657,227

–

9,657,227

Life

Sciences

Tools

&

Services

1,470,245

11,233,264

–

12,703,509

Machinery

–

46,207,544

–

46,207,544

Marine

Transportation

–

2,472,278

–

2,472,278

Media

–

13,285,249

–

13,285,249

Metals

&

Mining

6,711,291

10,687,569

–

17,398,860

Oil,

Gas

&

Consumable

Fuels

6,891,910

14,556,087

–

21,447,997

Passenger

Airlines

–

3,521,274

–

3,521,274

Personal

Care

Products

–

1,033,827

–

1,033,827

Pharmaceuticals

4,326,089

5,087,373

–

9,413,462

Professional

Services

7,758,951

21,707,178

–

29,466,129

Real

Estate

Management

&

Development

2,879,918

27,904,095

–

30,784,013

Retail

REITs

–

14,259,510

–

14,259,510

Semiconductors

&

Semiconductor

Equipment

–

19,930,046

–

19,930,046

Software

12,605,720

4,523,598

–

17,129,318

Specialized

REITs

–

8,955,410

–

8,955,410

Specialty

Retail

–

13,130,033

–

13,130,033

Textiles,

Apparel

&

Luxury

Goods

–

6,780,828

–

6,780,828

Trading

Companies

&

Distributors

–

11,956,101

–

11,956,101

Transportation

Infrastructure

–

7,765,578

–

7,765,578

46

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Small

Cap

Fund

The

FVC

continues

to

evaluate

any

information

that

could

cause

an

adjustment

to

the

fair

value

for

these

investments,

such

as

market

news,

the

progress

of

judicial

and

regulatory

proceedings,

and

subadviser

recommendations. 

Level

1

Level

2

Level

3

Total

Assets:

Water

Utilities

–

$

2,891,076

$

–

$

2,891,076

Total

Common

Stocks

$

66,920,087

$

562,974,928

$

–

$

629,895,015

Exchange

Traded

Fund

9,238,406

–

–

9,238,406

Repurchase

Agreements

–

28,773,461

–

28,773,461

Rights

–

–

–

–

Total

$

76,158,493

$

591,748,389

$

–

$

667,906,882

As

of

July

31,

2024,

the

fund

held

one

rights

investment

that

was

categorized

as

a

Level

3

investment

which

was

valued

at

$0.

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Janus

Henderson

Overseas

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

47

Common

Stocks

97

.5

%

Shares

Value

($)

AUSTRIA

2

.9

%

Banks

2

.9

%

Erste

Group

Bank

AG

27,333

1,418,770

CANADA

7

.1

%

Metals

&

Mining

4

.1

%

Teck

Resources

Ltd.,

Class

B

41,975

2,057,631

Oil,

Gas

&

Consumable

Fuels

3

.0

%

Canadian

Natural

Resources

Ltd.

41,266

1,464,118

3,521,749

CHINA

2

.6

%

Biotechnology

1

.1

%

Zai

Lab

Ltd.,

ADR

*(a)

28,313

538,797

Broadline

Retail

0

.8

%

JD.com,

Inc.,

Class

A

29,128

383,792

Ground

Transportation

0

.7

%

Full

Truck

Alliance

Co.

Ltd.,

ADR

45,590

346,484

1,269,073

DENMARK

2

.7

%

Biotechnology

0

.7

%

Ascendis

Pharma

A/S,

ADR

*

2,490

332,415

Pharmaceuticals

2

.0

%

Novo

Nordisk

A/S,

Class

B

7,539

998,944

1,331,359

FRANCE

8

.2

%

Banks

3

.9

%

BNP

Paribas

SA

28,530

1,954,149

Machinery

0

.7

%

Alstom

SA

*(a)

17,087

334,116

Oil,

Gas

&

Consumable

Fuels

2

.8

%

Gaztransport

Et

Technigaz

SA

3,173

467,884

TotalEnergies

SE

13,660

921,258

1,389,142

Textiles,

Apparel

&

Luxury

Goods

0

.8

%

LVMH

Moet

Hennessy

Louis

Vuitton

SE

548

386,237

4,063,644

GERMANY

5

.4

%

Automobiles

1

.7

%

Dr

Ing

hc

F

Porsche

AG

(Preference)

Reg.

S

(a)(b)

11,329

854,998

Diversified

Telecommunication

Services

3

.7

%

Deutsche

Telekom

AG

(Registered)

69,623

1,819,503

2,674,501

HONG

KONG

2

.0

%

Insurance

2

.0

%

AIA

Group

Ltd.

149,475

996,226

INDIA

3

.6

%

Banks

2

.8

%

HDFC

Bank

Ltd.

73,793

1,421,052

Hotels,

Restaurants

&

Leisure

0

.8

%

MakeMyTrip

Ltd.

*(a)

4,053

379,320

1,800,372

Common

Stocks

Shares

Value

($)

ITALY

3

.3

%

Banks

1

.8

%

UniCredit

SpA

22,336

916,271

Beverages

1

.5

%

Davide

Campari-Milano

NV

(a)

81,510

735,350

1,651,621

JAPAN

14

.4

%

Automobiles

2

.4

%

Toyota

Motor

Corp.

61,200

1,191,290

Banks

2

.3

%

Resona

Holdings,

Inc.

158,600

1,150,691

Chemicals

1

.5

%

Shin-Etsu

Chemical

Co.

Ltd.

16,700

746,149

Insurance

4

.2

%

Dai-ichi

Life

Holdings,

Inc.

66,002

2,028,549

IT

Services

1

.4

%

Fujitsu

Ltd.

39,900

712,545

Pharmaceuticals

1

.3

%

Daiichi

Sankyo

Co.

Ltd.

15,600

634,899

Wireless

Telecommunication

Services

1

.3

%

SoftBank

Group

Corp.

10,300

631,450

7,095,573

NETHERLANDS

7

.3

%

Beverages

2

.7

%

Heineken

NV

14,885

1,320,498

Biotechnology

1

.3

%

Argenx

SE,

ADR

*

1,226

632,457

Semiconductors

&

Semiconductor

Equipment

3

.3

%

ASML

Holding

NV

(a)

1,778

1,633,273

3,586,228

SOUTH

KOREA

2

.1

%

Technology

Hardware,

Storage

&

Peripherals

2

.1

%

Samsung

Electronics

Co.

Ltd.

16,643

1,023,284

SWEDEN

2

.0

%

Electronic

Equipment,

Instruments

&

Components

2

.0

%

Hexagon

AB,

Class

B

97,059

986,900

TAIWAN

6

.9

%

Semiconductors

&

Semiconductor

Equipment

6

.9

%

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

118,000

3,391,810

UNITED

KINGDOM

17

.3

%

Aerospace

&

Defense

4

.8

%

BAE

Systems

plc

142,723

2,382,533

Banks

2

.2

%

NatWest

Group

plc

235,425

1,111,013

Commercial

Services

&

Supplies

2

.1

%

Rentokil

Initial

plc

166,334

1,014,079

Hotels,

Restaurants

&

Leisure

1

.4

%

Entain

plc

91,281

671,818

Industrial

REITs

1

.3

%

Segro

plc

52,508

619,113

Personal

Care

Products

3

.3

%

Unilever

plc

26,363

1,617,245

48

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Janus

Henderson

Overseas

Fund

Common

Stocks

Shares

Value

($)

UNITED

KINGDOM

Pharmaceuticals

2

.2

%

AstraZeneca

plc

6,998

1,109,502

8,525,303

UNITED

STATES

9

.7

%

Entertainment

3

.7

%

Liberty

Media

Corp-Liberty

Formula

One,

Class

C

*(a)

23,267

1,881,602

Life

Sciences

Tools

&

Services

1

.7

%

ICON

plc

*

2,497

820,115

Pharmaceuticals

1

.5

%

Sanofi

SA

7,215

741,999

Textiles,

Apparel

&

Luxury

Goods

2

.8

%

Samsonite

International

SA

Reg.

S

(b)

470,823

1,358,938

4,802,654

Total

Common

Stocks

(cost

$37,254,720)

48,139,067

Repurchase

Agreement

7

.8

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,867,144,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$3,944,489.(c)

3,866,571

3,866,571

Total

Repurchase

Agreement

(cost

$3,866,571)

3,866,571

Total

Investments

(cost

$41,121,291)

—

105.3%

52,005,638

Liabilities

in

excess

of

other

assets

—

(5.3)%

(

2,612,986

)

NET

ASSETS

—

100.0%

$

49,392,652

*

Denotes

a

non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$4,629,401,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$3,866,571

and

by

$900,974

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.13%

–

4.38%,

and

maturity

dates

ranging

from

7/15/2025

–

2/15/2053,

a

total

value

of

$4,767,545.

(b)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$2,213,936

which

represents

4.48%

of

net

assets.

(c)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$3,866,571.

ADR

American

Depositary

Receipt

Preference

A

special

type

of

equity

investment

that

shares

in

the

earnings

of

the

company,

has

limited

voting

rights,

and

may

have

a

dividend

preference.

Preference

shares

may

also

have

liquidation

preference.

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

REIT

Real

Estate

Investment

Trust

Nationwide

Janus

Henderson

Overseas

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

49

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

50

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Janus

Henderson

Overseas

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

Aerospace

&

Defense

$

–

$

2,382,533

$

–

$

2,382,533

Automobiles

–

2,046,288

–

2,046,288

Banks

–

7,971,946

–

7,971,946

Beverages

–

2,055,848

–

2,055,848

Biotechnology

1,503,669

–

–

1,503,669

Broadline

Retail

–

383,792

–

383,792

Chemicals

–

746,149

–

746,149

Commercial

Services

&

Supplies

–

1,014,079

–

1,014,079

Diversified

Telecommunication

Services

–

1,819,503

–

1,819,503

Electronic

Equipment,

Instruments

&

Components

–

986,900

–

986,900

Entertainment

1,881,602

–

–

1,881,602

Ground

Transportation

346,484

–

–

346,484

Hotels,

Restaurants

&

Leisure

379,320

671,818

–

1,051,138

Industrial

REITs

–

619,113

–

619,113

Insurance

–

3,024,775

–

3,024,775

IT

Services

–

712,545

–

712,545

Life

Sciences

Tools

&

Services

820,115

–

–

820,115

Machinery

–

334,116

–

334,116

Metals

&

Mining

2,057,631

–

–

2,057,631

Oil,

Gas

&

Consumable

Fuels

1,464,118

1,389,142

–

2,853,260

Personal

Care

Products

–

1,617,245

–

1,617,245

Pharmaceuticals

–

3,485,344

–

3,485,344

Semiconductors

&

Semiconductor

Equipment

–

5,025,083

–

5,025,083

Technology

Hardware,

Storage

&

Peripherals

–

1,023,284

–

1,023,284

Textiles,

Apparel

&

Luxury

Goods

–

1,745,175

–

1,745,175

Wireless

Telecommunication

Services

–

631,450

–

631,450

Total

Common

Stocks

$

8,452,939

$

39,686,128

$

–

$

48,139,067

Repurchase

Agreement

–

3,866,571

–

3,866,571

Total

$

8,452,939

$

43,552,699

$

–

$

52,005,638

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

1

Asset-Backed

Securities

0

.4

%

Principal

Amount

($)

Value

($)

Airlines

0

.1

%

United

Airlines

Pass-Through

Trust,

Series

2013-1,

Class

A,

4.30%,

8/15/2025

132,080

130,396

Automobiles

0

.0

%

†

Santander

Drive

Auto

Receivables

Trust,

Series

2024-1,

Class

B,

5.23%,

12/15/2028

90,000

90,362

Consumer

Finance

0

.1

%

World

Omni

Auto

Receivables

Trust

Series

2024-A,

Class

A3,

4.86%,

3/15/2029

170,000

170,613

Series

2024-A,

Class

B,

5.09%,

12/17/2029

200,000

201,472

372,085

Credit

Card

0

.2

%

American

Express

Credit

Account

Master

Trust,

Series

2023-4,

Class

A,

5.15%,

9/15/2030

500,000

513,090

Total

Asset-Backed

Securities

(cost

$1,102,915)

1,105,933

Commercial

Mortgage-Backed

Securities

1

.4

%

BBCMS

Mortgage

Trust,

Series

2017-C1,

Class

A4,

3.67%,

2/15/2050

450,000

432,670

FHLMC

Multifamily

Structured

Pass-Through

Certificates

REMIC

Series

K066,

Class

A2,

3.12%,

6/25/2027

250,000

240,875

Series

K739,

Class

A2,

1.34%,

9/25/2027

620,000

568,365

Series

K-152,

Class

A2,

3.78%,

11/25/2032(a)

500,000

476,670

Series

K-1510,

Class

A3,

3.79%,

1/25/2034

200,000

189,245

FNMA

ACES

REMIC,

Series

2020-M5,

Class

A2,

2.21%,

1/25/2030

1,049,067

940,148

JPMCC

Commercial

Mortgage

Securities

Trust,

Series

2017-JP7,

Class

A5,

3.45%,

9/15/2050

750,000

705,421

Morgan

Stanley

Capital

I

Trust,

Series

2019-H6,

Class

A4,

3.42%,

6/15/2052

150,000

140,012

Total

Commercial

Mortgage-Backed

Securities

(cost

$4,028,545)

3,693,406

Corporate

Bonds

24

.9

%

Principal

Amount

($)

Value

($)

Aerospace

&

Defense

0

.5

%

Boeing

Co.

(The)

,

3.10%,

5/1/2026(b)

50,000

48,028

3.20%,

3/1/2029

100,000

90,723

5.15%,

5/1/2030

50,000

49,240

6.13%,

2/15/2033(b)

50,000

51,506

6.53%,

5/1/2034(c)

20,000

20,995

5.71%,

5/1/2040

140,000

133,442

5.81%,

5/1/2050(b)

25,000

23,297

6.86%,

5/1/2054(c)

60,000

63,519

General

Dynamics

Corp.

,

4.25%,

4/1/2040

50,000

44,919

General

Electric

Co.

,

Series

A,

6.75%,

3/15/2032(b)

100,000

111,883

L3Harris

Technologies,

Inc.

,

4.85%,

4/27/2035(b)

55,000

53,347

Leidos,

Inc.

,

2.30%,

2/15/2031

50,000

42,336

Lockheed

Martin

Corp.

,

4.09%,

9/15/2052

100,000

82,993

4.15%,

6/15/2053

10,000

8,359

5.70%,

11/15/2054

25,000

26,485

4.30%,

6/15/2062

10,000

8,411

Northrop

Grumman

Corp.

,

4.75%,

6/1/2043

100,000

91,837

RTX

Corp.

,

3.95%,

8/16/2025

80,000

79,083

4.13%,

11/16/2028

200,000

195,823

6.10%,

3/15/2034

50,000

53,883

4.50%,

6/1/2042

50,000

44,484

3.75%,

11/1/2046

50,000

38,934

3.03%,

3/15/2052

50,000

32,962

1,396,489

Air

Freight

&

Logistics

0

.1

%

FedEx

Corp.

,

4.25%,

5/15/2030

20,000

19,637

4.55%,

4/1/2046

100,000

85,733

United

Parcel

Service,

Inc.

,

6.20%,

1/15/2038

40,000

44,375

5.30%,

4/1/2050(b)

50,000

49,464

199,209

Automobile

Components

0

.1

%

Aptiv

plc

,

5.40%,

3/15/2049

25,000

22,810

BorgWarner,

Inc.

,

2.65%,

7/1/2027(b)

25,000

23,626

Lear

Corp.

,

3.80%,

9/15/2027

123,000

118,956

165,392

Automobiles

0

.1

%

Ford

Motor

Co.

,

3.25%,

2/12/2032

50,000

41,972

4.75%,

1/15/2043

25,000

20,459

5.29%,

12/8/2046

25,000

22,218

General

Motors

Co.

,

6.25%,

10/2/2043

100,000

101,777

Honda

Motor

Co.

Ltd.

,

2.97%,

3/10/2032

20,000

17,947

2

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Automobiles

Mercedes-Benz

Finance

North

America

LLC

,

8.50%,

1/18/2031

50,000

60,487

264,860

Banks

4

.9

%

Banco

Santander

SA

,

4.25%,

4/11/2027

200,000

196,181

6.61%,

11/7/2028

200,000

213,610

Bank

of

America

Corp.

,

4.25%,

10/22/2026(b)

145,000

142,938

(SOFR

+

1.05%),

2.55%,

2/4/2028(d)

100,000

94,488

(CME

Term

SOFR

3

Month

+

1.30%),

3.42%,

12/20/2028(b)(d)

191,000

182,546

(CME

Term

SOFR

3

Month

+

1.33%),

3.97%,

3/5/2029(d)

50,000

48,510

(CME

Term

SOFR

3

Month

+

1.47%),

3.97%,

2/7/2030(d)

100,000

96,310

(SOFR

+

2.15%),

2.59%,

4/29/2031(d)

100,000

88,374

(SOFR

+

1.32%),

2.69%,

4/22/2032(b)(d)

200,000

172,934

(SOFR

+

1.33%),

2.97%,

2/4/2033(d)

95,000

82,365

(SOFR

+

1.83%),

4.57%,

4/27/2033(d)

40,000

38,624

(SOFR

+

2.16%),

5.02%,

7/22/2033(b)(d)

45,000

44,964

(SOFR

+

1.91%),

5.29%,

4/25/2034(d)

100,000

100,934

(SOFR

+

1.65%),

5.47%,

1/23/2035(d)

50,000

51,127

(CME

Term

SOFR

3

Month

+

2.08%),

4.24%,

4/24/2038(d)

95,000

86,482

(SOFR

+

1.93%),

2.68%,

6/19/2041(d)

100,000

71,655

5.88%,

2/7/2042

25,000

26,783

(CME

Term

SOFR

3

Month

+

2.25%),

4.44%,

1/20/2048(d)

50,000

44,244

(CME

Term

SOFR

3

Month

+

3.41%),

4.08%,

3/20/2051(d)

70,000

57,746

(SOFR

+

1.56%),

2.97%,

7/21/2052(d)

30,000

20,231

Bank

of

Montreal

,

5.20%,

2/1/2028

50,000

50,783

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.40%),

3.09%,

1/10/2037(d)

25,000

20,935

Bank

of

Nova

Scotia

(The)

,

2.70%,

8/3/2026(b)

250,000

240,017

5.65%,

2/1/2034

10,000

10,420

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

Barclays

plc

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

3.30%),

7.39%,

11/2/2028(b)(d)

200,000

213,236

(ICE

LIBOR

USD

3

Month

+

1.90%),

4.97%,

5/16/2029(b)(d)

250,000

249,193

(SOFR

+

2.22%),

6.49%,

9/13/2029(d)

200,000

210,445

Canadian

Imperial

Bank

of

Commerce

,

5.26%,

4/8/2029

20,000

20,332

3.60%,

4/7/2032

30,000

27,248

Citibank

NA

,

5.86%,

9/29/2025

250,000

252,399

Citigroup,

Inc.

,

3.70%,

1/12/2026(b)

250,000

245,642

3.40%,

5/1/2026

200,000

195,012

(SOFR

+

1.28%),

3.07%,

2/24/2028(b)(d)

10,000

9,559

(CME

Term

SOFR

3

Month

+

1.41%),

3.52%,

10/27/2028(d)

100,000

95,896

(CME

Term

SOFR

3

Month

+

1.60%),

3.98%,

3/20/2030(d)

100,000

96,083

(SOFR

+

1.17%),

2.56%,

5/1/2032(d)

80,000

68,255

6.63%,

6/15/2032

142,000

154,422

(SOFR

+

2.66%),

6.17%,

5/25/2034(d)

35,000

36,334

(SOFR

+

2.06%),

5.83%,

2/13/2035(d)

20,000

20,272

(SOFR

+

1.45%),

5.45%,

6/11/2035(d)

25,000

25,412

8.13%,

7/15/2039

40,000

51,309

(CME

Term

SOFR

3

Month

+

2.10%),

4.28%,

4/24/2048(b)(d)

90,000

76,407

4.65%,

7/23/2048(b)

30,000

27,080

Citizens

Financial

Group,

Inc.

,

2.85%,

7/27/2026

90,000

86,138

(SOFR

+

2.33%),

6.65%,

4/25/2035(d)

10,000

10,656

Comerica,

Inc.

,

4.00%,

2/1/2029

15,000

14,034

Cooperatieve

Rabobank

UA

,

3.75%,

7/21/2026

250,000

243,492

Fifth

Third

Bancorp

,

3.95%,

3/14/2028

70,000

67,918

(SOFR

+

1.66%),

4.34%,

4/25/2033(b)(d)

20,000

18,632

HSBC

Holdings

plc

,

(CME

Term

SOFR

3

Month

+

1.61%),

4.29%,

9/12/2026(d)

200,000

197,740

(SOFR

+

3.35%),

7.39%,

11/3/2028(d)

200,000

214,025

(SOFR

+

1.97%),

6.16%,

3/9/2029(d)

200,000

207,681

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

3

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

HSBC

Holdings

plc,

(CME

Term

SOFR

3

Month

+

1.80%),

4.58%,

6/19/2029(d)

200,000

196,702

4.95%,

3/31/2030(b)

200,000

201,258

6.50%,

9/15/2037

100,000

105,747

Huntington

Bancshares,

Inc.

,

(SOFR

+

2.02%),

6.21%,

8/21/2029(d)

25,000

25,982

(United

States

SOFR

Compounded

Index

+

1.87%),

5.71%,

2/2/2035(d)

15,000

15,164

ING

Groep

NV

,

(SOFR

+

1.83%),

4.02%,

3/28/2028(b)(d)

200,000

195,465

JPMorgan

Chase

&

Co.

,

3.30%,

4/1/2026

150,000

146,497

(SOFR

+

1.56%),

4.32%,

4/26/2028(d)

60,000

59,261

(SOFR

+

1.99%),

4.85%,

7/25/2028(d)

150,000

150,217

(SOFR

+

1.57%),

6.09%,

10/23/2029(d)

150,000

157,329

(CME

Term

SOFR

3

Month

+

1.59%),

4.45%,

12/5/2029(d)

25,000

24,663

(CME

Term

SOFR

3

Month

+

1.42%),

3.70%,

5/6/2030(d)

80,000

76,136

(SOFR

+

1.13%),

5.00%,

7/22/2030(d)

25,000

25,186

(CME

Term

SOFR

3

Month

+

1.51%),

2.74%,

10/15/2030(d)

20,000

18,089

(SOFR

+

2.04%),

2.52%,

4/22/2031(d)

125,000

110,589

(CME

Term

SOFR

3

Month

+

1.25%),

2.58%,

4/22/2032(d)

100,000

86,263

(SOFR

+

1.26%),

2.96%,

1/25/2033(d)

35,000

30,512

(SOFR

+

2.08%),

4.91%,

7/25/2033(d)

50,000

49,531

(SOFR

+

2.58%),

5.72%,

9/14/2033(d)

50,000

51,787

(SOFR

+

1.85%),

5.35%,

6/1/2034(b)(d)

100,000

101,825

(SOFR

+

1.49%),

5.77%,

4/22/2035(d)

50,000

52,403

6.40%,

5/15/2038(b)

120,000

136,805

5.60%,

7/15/2041

40,000

41,912

(SOFR

+

1.46%),

3.16%,

4/22/2042(b)(d)

50,000

38,285

(CME

Term

SOFR

3

Month

+

1.64%),

3.96%,

11/15/2048(d)

80,000

65,943

(SOFR

+

2.44%),

3.11%,

4/22/2051(d)

60,000

42,156

Korea

Development

Bank

(The)

,

4.38%,

2/15/2028

200,000

200,080

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

Kreditanstalt

fuer

Wiederaufbau

,

0.63%,

1/22/2026

100,000

94,524

3.63%,

4/1/2026

200,000

197,400

3.75%,

2/15/2028

100,000

98,883

2.88%,

4/3/2028

200,000

191,974

1.75%,

9/14/2029

100,000

89,664

Landwirtschaftliche

Rentenbank

,

5.00%,

10/24/2033

110,000

116,573

Lloyds

Banking

Group

plc

,

(ICE

LIBOR

USD

3

Month

+

1.21%),

3.57%,

11/7/2028(d)

200,000

191,420

Manufacturers

&

Traders

Trust

Co.

,

4.65%,

1/27/2026

250,000

247,686

Mitsubishi

UFJ

Financial

Group,

Inc.

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.75%),

1.54%,

7/20/2027(d)

200,000

187,442

3.75%,

7/18/2039

200,000

173,269

Mizuho

Financial

Group,

Inc.

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.65%),

5.78%,

7/6/2029(d)

200,000

205,779

National

Australia

Bank

Ltd.

,

3.38%,

1/14/2026

250,000

245,416

NatWest

Group

plc

,

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.90%),

1.64%,

6/14/2027(b)(d)

200,000

187,624

Oesterreichische

Kontrollbank

AG

,

4.13%,

1/20/2026

70,000

69,564

PNC

Financial

Services

Group,

Inc.

(The)

,

(SOFR

+

1.84%),

5.58%,

6/12/2029(b)(d)

70,000

71,643

2.55%,

1/22/2030(b)

20,000

17,935

(SOFR

+

1.20%),

5.49%,

5/14/2030(d)

25,000

25,613

(SOFR

+

1.93%),

5.07%,

1/24/2034(b)(d)

40,000

39,571

(SOFR

+

2.28%),

6.88%,

10/20/2034(b)(d)

35,000

38,952

(SOFR

+

1.60%),

5.40%,

7/23/2035(d)

25,000

25,263

Royal

Bank

of

Canada

,

2.05%,

1/21/2027

100,000

94,237

5.00%,

2/1/2033(b)

70,000

70,635

5.15%,

2/1/2034

15,000

15,241

Santander

Holdings

USA,

Inc.

,

4.40%,

7/13/2027(b)

100,000

98,000

4

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Banks

Santander

UK

Group

Holdings

plc

,

(SOFR

+

2.75%),

6.83%,

11/21/2026(d)

200,000

203,642

Sumitomo

Mitsui

Financial

Group,

Inc.

,

5.46%,

1/13/2026

200,000

201,294

3.20%,

9/17/2029(b)

250,000

231,374

Toronto-Dominion

Bank

(The)

,

4.11%,

6/8/2027(b)

150,000

147,459

4.46%,

6/8/2032(b)

60,000

58,067

Truist

Financial

Corp.

,

(SOFR

+

0.61%),

1.27%,

3/2/2027(d)

50,000

47,021

1.95%,

6/5/2030

50,000

42,574

(SOFR

+

2.24%),

4.92%,

7/28/2033(d)

10,000

9,486

(SOFR

+

2.30%),

6.12%,

10/28/2033(d)

40,000

41,899

(SOFR

+

1.85%),

5.12%,

1/26/2034(d)

40,000

39,240

(SOFR

+

1.92%),

5.71%,

1/24/2035(d)

40,000

40,897

US

Bancorp

,

Series

X,

3.15%,

4/27/2027(b)

250,000

240,565

(SOFR

+

2.11%),

4.97%,

7/22/2033(b)(d)

25,000

24,087

(SOFR

+

2.26%),

5.84%,

6/12/2034(d)

60,000

62,286

(SOFR

+

1.86%),

5.68%,

1/23/2035(d)

25,000

25,679

Wells

Fargo

&

Co.

,

(SOFR

+

1.56%),

4.54%,

8/15/2026(b)(d)

40,000

39,691

(CME

Term

SOFR

3

Month

+

1.43%),

2.88%,

10/30/2030(d)

100,000

90,591

(SOFR

+

1.50%),

3.35%,

3/2/2033(d)

50,000

44,342

(SOFR

+

2.10%),

4.90%,

7/25/2033(d)

90,000

88,459

(SOFR

+

1.99%),

5.56%,

7/25/2034(d)

130,000

132,911

(SOFR

+

2.06%),

6.49%,

10/23/2034(d)

60,000

65,375

5.61%,

1/15/2044

240,000

237,608

(CME

Term

SOFR

3

Month

+

4.50%),

5.01%,

4/4/2051(b)(d)

60,000

56,504

Westpac

Banking

Corp.

,

5.46%,

11/18/2027

130,000

133,469

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.75%),

2.67%,

11/15/2035(d)

30,000

25,490

3.13%,

11/18/2041

65,000

47,420

12,895,578

Corporate

Bonds

Principal

Amount

($)

Value

($)

Beverages

0

.5

%

Anheuser-Busch

Cos.

LLC

,

4.90%,

2/1/2046

140,000

132,540

Anheuser-Busch

InBev

Worldwide,

Inc.

,

4.75%,

1/23/2029(b)

150,000

151,486

5.45%,

1/23/2039

80,000

83,195

5.55%,

1/23/2049(b)

100,000

102,872

5.80%,

1/23/2059

20,000

21,388

Brown-Forman

Corp.

,

4.75%,

4/15/2033

20,000

20,029

Coca-Cola

Co.

(The)

,

2.90%,

5/25/2027(b)

100,000

96,085

2.60%,

6/1/2050

100,000

64,277

Constellation

Brands,

Inc.

,

4.40%,

11/15/2025

40,000

39,700

5.25%,

11/15/2048

50,000

47,579

Diageo

Capital

plc

,

2.38%,

10/24/2029

200,000

180,379

Keurig

Dr

Pepper,

Inc.

,

4.42%,

12/15/2046

20,000

17,223

4.50%,

4/15/2052

30,000

25,603

Molson

Coors

Beverage

Co.

,

4.20%,

7/15/2046

50,000

41,205

PepsiCo,

Inc.

,

4.45%,

5/15/2028

100,000

100,748

3.45%,

10/6/2046

75,000

58,271

2.75%,

10/21/2051

50,000

32,974

1,215,554

Biotechnology

0

.5

%

AbbVie,

Inc.

,

3.20%,

5/14/2026

140,000

136,558

3.20%,

11/21/2029

60,000

56,294

5.05%,

3/15/2034

40,000

40,737

4.30%,

5/14/2036

50,000

47,282

4.70%,

5/14/2045

50,000

46,525

4.25%,

11/21/2049

175,000

149,545

5.50%,

3/15/2064

20,000

20,228

Amgen,

Inc.

,

5.15%,

3/2/2028(b)

70,000

70,956

5.25%,

3/2/2033(b)

80,000

81,304

5.60%,

3/2/2043

60,000

60,578

4.66%,

6/15/2051

170,000

148,927

5.75%,

3/2/2063

60,000

60,404

Biogen,

Inc.

,

4.05%,

9/15/2025

95,000

93,901

3.15%,

5/1/2050

30,000

19,987

Gilead

Sciences,

Inc.

,

3.65%,

3/1/2026

80,000

78,539

4.75%,

3/1/2046

150,000

136,894

1,248,659

Broadline

Retail

0

.2

%

Alibaba

Group

Holding

Ltd.

,

2.13%,

2/9/2031

200,000

169,883

Amazon.com,

Inc.

,

1.65%,

5/12/2028(b)

200,000

181,160

3.60%,

4/13/2032

25,000

23,502

4.70%,

12/1/2032

25,000

25,316

2.50%,

6/3/2050

50,000

31,455

3.95%,

4/13/2052(b)

25,000

20,701

4.25%,

8/22/2057

150,000

129,136

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

5

Corporate

Bonds

Principal

Amount

($)

Value

($)

Broadline

Retail

eBay,

Inc.

,

4.00%,

7/15/2042

50,000

40,963

622,116

Building

Products

0

.1

%

Carrier

Global

Corp.

,

2.49%,

2/15/2027

23,000

21,828

2.72%,

2/15/2030

100,000

90,091

5.90%,

3/15/2034

50,000

53,503

Fortune

Brands

Innovations,

Inc.

,

3.25%,

9/15/2029(b)

50,000

46,297

Johnson

Controls

International

plc

,

4.90%,

12/1/2032

100,000

100,020

Masco

Corp.

,

3.13%,

2/15/2051

30,000

20,018

Owens

Corning

,

4.30%,

7/15/2047

10,000

8,259

Trane

Technologies

Global

Holding

Co.

Ltd.

,

5.75%,

6/15/2043

20,000

20,958

360,974

Capital

Markets

1

.6

%

Ares

Capital

Corp.

,

3.88%,

1/15/2026

60,000

58,473

5.88%,

3/1/2029

20,000

20,069

Bank

of

New

York

Mellon

Corp.

(The)

,

2.05%,

1/26/2027

100,000

94,289

Series

J,

1.90%,

1/25/2029

100,000

89,844

(United

States

SOFR

Compounded

Index

+

2.07%),

5.83%,

10/25/2033(d)

20,000

21,166

(SOFR

+

1.85%),

6.47%,

10/25/2034(d)

40,000

44,068

Blackstone

Private

Credit

Fund

,

4.00%,

1/15/2029

50,000

46,661

Blue

Owl

Credit

Income

Corp.

,

6.65%,

3/15/2031

10,000

10,071

Brookfield

Finance

I

UK

plc

,

2.34%,

1/30/2032

100,000

83,118

Brookfield

Finance,

Inc.

,

4.85%,

3/29/2029

60,000

60,195

3.50%,

3/30/2051

20,000

14,322

Charles

Schwab

Corp.

(The)

,

0.90%,

3/11/2026

100,000

93,661

(SOFR

+

2.21%),

5.64%,

5/19/2029(b)(d)

50,000

51,227

1.95%,

12/1/2031

50,000

40,946

(SOFR

+

2.01%),

6.14%,

8/24/2034(b)(d)

35,000

37,067

CME

Group,

Inc.

,

5.30%,

9/15/2043

50,000

51,495

Deutsche

Bank

AG

,

(SOFR

+

1.32%),

2.55%,

1/7/2028(d)

200,000

187,445

(SOFR

+

2.51%),

6.82%,

11/20/2029(d)

150,000

158,675

Corporate

Bonds

Principal

Amount

($)

Value

($)

Capital

Markets

Goldman

Sachs

Bank

USA

,

(SOFR

+

0.75%),

5.41%,

5/21/2027(d)

25,000

25,177

Goldman

Sachs

Group,

Inc.

(The)

,

(SOFR

+

0.91%),

1.95%,

10/21/2027(d)

200,000

187,156

(SOFR

+

1.11%),

2.64%,

2/24/2028(d)

25,000

23,602

(SOFR

+

1.77%),

6.48%,

10/24/2029(d)

100,000

105,819

(SOFR

+

1.21%),

5.05%,

7/23/2030(d)

25,000

25,123

(SOFR

+

1.95%),

6.56%,

10/24/2034(b)(d)

30,000

32,979

(SOFR

+

1.55%),

5.85%,

4/25/2035(d)

30,000

31,349

(SOFR

+

1.55%),

5.33%,

7/23/2035(b)(d)

25,000

25,185

(CME

Term

SOFR

3

Month

+

1.69%),

4.41%,

4/23/2039(d)

250,000

227,915

6.25%,

2/1/2041

130,000

142,856

Intercontinental

Exchange,

Inc.

,

4.35%,

6/15/2029

20,000

19,617

4.60%,

3/15/2033(b)

20,000

19,566

4.95%,

6/15/2052(b)

20,000

18,794

3.00%,

9/15/2060

50,000

30,969

5.20%,

6/15/2062

20,000

19,240

Jefferies

Financial

Group,

Inc.

,

4.15%,

1/23/2030

50,000

47,618

Moody's

Corp.

,

3.75%,

2/25/2052

40,000

30,722

Morgan

Stanley

,

4.35%,

9/8/2026(b)

250,000

246,990

(SOFR

+

1.00%),

2.48%,

1/21/2028(d)

130,000

122,641

(SOFR

+

2.24%),

6.30%,

10/18/2028(b)(d)

80,000

83,441

(SOFR

+

1.59%),

5.16%,

4/20/2029(d)

110,000

111,108

(CME

Term

SOFR

3

Month

+

1.89%),

4.43%,

1/23/2030(d)

50,000

49,143

(SOFR

+

1.26%),

5.66%,

4/18/2030(d)

80,000

82,522

(SOFR

+

1.14%),

2.70%,

1/22/2031(d)

40,000

35,762

7.25%,

4/1/2032

100,000

115,393

(SOFR

+

1.18%),

2.24%,

7/21/2032(d)

85,000

70,943

(SOFR

+

1.29%),

2.94%,

1/21/2033(b)(d)

50,000

43,279

(SOFR

+

2.56%),

6.34%,

10/18/2033(b)(d)

80,000

86,596

(SOFR

+

1.87%),

5.25%,

4/21/2034(d)

20,000

20,093

(SOFR

+

1.88%),

5.42%,

7/21/2034(d)

100,000

101,503

6

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Capital

Markets

Morgan

Stanley,

(SOFR

+

1.58%),

5.83%,

4/19/2035(d)

30,000

31,344

(SOFR

+

1.56%),

5.32%,

7/19/2035(d)

45,000

45,371

4.38%,

1/22/2047

150,000

132,301

Nasdaq,

Inc.

,

5.55%,

2/15/2034(b)

90,000

92,426

6.10%,

6/28/2063(b)

10,000

10,518

Nomura

Holdings,

Inc.

,

2.33%,

1/22/2027(b)

200,000

187,360

Northern

Trust

Corp.

,

3.65%,

8/3/2028

50,000

48,558

1.95%,

5/1/2030

50,000

43,342

S&P

Global,

Inc.

,

2.70%,

3/1/2029

10,000

9,251

2.90%,

3/1/2032(b)

50,000

44,172

3.90%,

3/1/2062

25,000

19,291

State

Street

Corp.

,

(SOFR

+

1.35%),

5.75%,

11/4/2026(d)

50,000

50,403

(SOFR

+

1.57%),

4.82%,

1/26/2034(b)(d)

40,000

39,524

UBS

AG

,

5.65%,

9/11/2028

200,000

207,073

4,306,827

Chemicals

0

.3

%

Cabot

Corp.

,

4.00%,

7/1/2029

30,000

28,888

Celanese

US

Holdings

LLC

,

6.38%,

7/15/2032

50,000

52,563

CF

Industries,

Inc.

,

5.15%,

3/15/2034

60,000

59,392

Dow

Chemical

Co.

(The)

,

4.25%,

10/1/2034(b)

86,000

80,441

6.90%,

5/15/2053(b)

25,000

28,531

DuPont

de

Nemours,

Inc.

,

5.32%,

11/15/2038

18,000

19,066

5.42%,

11/15/2048(b)

25,000

26,387

Eastman

Chemical

Co.

,

4.65%,

10/15/2044(b)

50,000

43,338

Ecolab,

Inc.

,

2.13%,

2/1/2032

100,000

84,432

FMC

Corp.

,

6.38%,

5/18/2053

15,000

15,386

International

Flavors

&

Fragrances,

Inc.

,

5.00%,

9/26/2048

20,000

17,675

Lubrizol

Corp.

(The)

,

6.50%,

10/1/2034

13,000

14,856

LyondellBasell

Industries

NV

,

4.63%,

2/26/2055

60,000

49,831

Mosaic

Co.

(The)

,

5.45%,

11/15/2033(b)

50,000

50,669

Nutrien

Ltd.

,

5.88%,

12/1/2036

50,000

52,354

5.00%,

4/1/2049

20,000

18,081

PPG

Industries,

Inc.

,

2.80%,

8/15/2029

100,000

91,551

Sherwin-Williams

Co.

(The)

,

4.50%,

6/1/2047

50,000

43,525

Corporate

Bonds

Principal

Amount

($)

Value

($)

Chemicals

Westlake

Corp.

,

4.38%,

11/15/2047

40,000

32,993

809,959

Commercial

Services

&

Supplies

0

.1

%

Republic

Services,

Inc.

,

1.45%,

2/15/2031

55,000

44,900

3.05%,

3/1/2050

50,000

34,485

Waste

Connections,

Inc.

,

4.20%,

1/15/2033(b)

60,000

57,117

Waste

Management,

Inc.

,

4.15%,

7/15/2049

50,000

42,757

179,259

Communications

Equipment

0

.1

%

Cisco

Systems,

Inc.

,

2.50%,

9/20/2026

150,000

144,152

5.90%,

2/15/2039(b)

40,000

43,627

5.30%,

2/26/2054

25,000

25,195

Juniper

Networks,

Inc.

,

3.75%,

8/15/2029

50,000

47,435

Motorola

Solutions,

Inc.

,

2.30%,

11/15/2030

35,000

30,144

290,553

Construction

&

Engineering

0

.0

%

†

Quanta

Services,

Inc.

,

2.90%,

10/1/2030

50,000

44,867

Construction

Materials

0

.0

%

†

Martin

Marietta

Materials,

Inc.

,

4.25%,

12/15/2047

50,000

41,828

Vulcan

Materials

Co.

,

3.90%,

4/1/2027

100,000

98,185

140,013

Consumer

Finance

0

.9

%

AerCap

Ireland

Capital

DAC

,

3.65%,

7/21/2027(b)

150,000

144,438

3.00%,

10/29/2028

200,000

185,063

Ally

Financial,

Inc.

,

8.00%,

11/1/2031

30,000

33,759

American

Express

Co.

,

3.13%,

5/20/2026

100,000

97,189

(SOFR

+

1.84%),

5.04%,

5/1/2034(b)(d)

100,000

99,897

(SOFR

+

1.42%),

5.28%,

7/26/2035(d)

25,000

25,307

American

Honda

Finance

Corp.

,

2.25%,

1/12/2029

50,000

45,336

Capital

One

Financial

Corp.

,

3.75%,

3/9/2027

50,000

48,540

(SOFR

+

2.06%),

4.93%,

5/10/2028(b)(d)

45,000

44,860

(SOFR

+

2.64%),

6.31%,

6/8/2029(b)(d)

50,000

51,858

(SOFR

+

3.07%),

7.62%,

10/30/2031(d)

20,000

22,371

(SOFR

+

2.60%),

5.82%,

2/1/2034(b)(d)

25,000

25,276

(SOFR

+

2.86%),

6.38%,

6/8/2034(d)

45,000

47,203

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

7

Corporate

Bonds

Principal

Amount

($)

Value

($)

Consumer

Finance

Caterpillar

Financial

Services

Corp.

,

4.35%,

5/15/2026(b)

50,000

49,774

Discover

Financial

Services

,

4.50%,

1/30/2026

100,000

98,852

(United

States

SOFR

Compounded

Index

+

3.37%),

7.96%,

11/2/2034(d)

10,000

11,519

Ford

Motor

Credit

Co.

LLC

,

3.38%,

11/13/2025

200,000

195,010

7.35%,

11/4/2027

200,000

210,697

General

Motors

Financial

Co.,

Inc.

,

6.05%,

10/10/2025(b)

120,000

121,176

1.25%,

1/8/2026

200,000

189,352

2.35%,

2/26/2027

50,000

46,961

5.85%,

4/6/2030(b)

75,000

77,507

5.95%,

4/4/2034

30,000

30,576

John

Deere

Capital

Corp.

,

0.70%,

1/15/2026

100,000

94,396

5.15%,

9/8/2026

80,000

80,849

Toyota

Motor

Credit

Corp.

,

5.00%,

8/14/2026

100,000

100,732

3.65%,

1/8/2029

100,000

96,529

4.45%,

6/29/2029

50,000

49,872

2,324,899

Consumer

Staples

Distribution

&

Retail

0

.3

%

Dollar

General

Corp.

,

4.13%,

4/3/2050(b)

50,000

38,839

Dollar

Tree,

Inc.

,

2.65%,

12/1/2031

25,000

21,240

3.38%,

12/1/2051

25,000

16,566

Kroger

Co.

(The)

,

7.50%,

4/1/2031(b)

90,000

103,502

4.65%,

1/15/2048

25,000

21,722

Sysco

Corp.

,

6.60%,

4/1/2050

50,000

56,629

Target

Corp.

,

2.50%,

4/15/2026

250,000

241,822

3.90%,

11/15/2047(b)

50,000

40,775

4.80%,

1/15/2053(b)

30,000

27,988

Walmart,

Inc.

,

1.80%,

9/22/2031

100,000

84,378

2.65%,

9/22/2051

100,000

65,088

4.50%,

9/9/2052

20,000

18,336

736,885

Containers

&

Packaging

0

.1

%

International

Paper

Co.

,

4.40%,

8/15/2047

25,000

20,855

Sonoco

Products

Co.

,

2.25%,

2/1/2027

45,000

42,261

2.85%,

2/1/2032

50,000

42,915

WRKCo,

Inc.

,

4.20%,

6/1/2032

40,000

38,163

144,194

Corporate

Bonds

Principal

Amount

($)

Value

($)

Diversified

Consumer

Services

0

.1

%

California

Institute

of

Technology

,

3.65%,

9/1/2119

20,000

13,893

Massachusetts

Institute

of

Technology

,

Series

G,

2.29%,

7/1/2051

100,000

61,651

Northwestern

University

,

Series

2017,

3.66%,

12/1/2057

12,000

9,484

President

and

Fellows

of

Harvard

College

,

3.15%,

7/15/2046

50,000

38,014

University

of

Notre

Dame

du

Lac

,

Series

2017,

3.39%,

2/15/2048

30,000

23,577

Yale

University

,

Series

2020,

2.40%,

4/15/2050

26,000

16,688

163,307

Diversified

REITs

0

.2

%

Digital

Realty

Trust

LP

,

4.45%,

7/15/2028

100,000

98,435

GLP

Capital

LP

,

5.38%,

4/15/2026

200,000

199,644

Simon

Property

Group

LP

,

2.65%,

2/1/2032(b)

100,000

85,963

4.75%,

3/15/2042

60,000

54,340

Store

Capital

LLC

,

2.70%,

12/1/2031

50,000

41,159

VICI

Properties

LP

,

4.75%,

2/15/2028

10,000

9,884

5.13%,

5/15/2032(b)

10,000

9,750

5.63%,

5/15/2052

20,000

18,391

WP

Carey,

Inc.

,

3.85%,

7/15/2029

50,000

47,608

565,174

Diversified

Telecommunication

Services

0

.7

%

AT&T,

Inc.

,

1.65%,

2/1/2028

100,000

90,292

4.30%,

2/15/2030(b)

50,000

48,899

2.25%,

2/1/2032

100,000

83,294

2.55%,

12/1/2033

152,000

124,303

3.50%,

6/1/2041(b)

70,000

55,078

3.50%,

9/15/2053

80,000

55,931

3.55%,

9/15/2055

25,000

17,329

3.65%,

9/15/2059

278,000

192,116

Bell

Canada

(The)

,

4.30%,

7/29/2049

50,000

41,901

British

Telecommunications

plc

,

9.62%,

12/15/2030(e)

35,000

43,589

Deutsche

Telekom

International

Finance

BV

,

8.75%,

6/15/2030(e)

50,000

59,409

Orange

SA

,

5.50%,

2/6/2044

50,000

49,932

Sprint

Capital

Corp.

,

6.88%,

11/15/2028(b)

100,000

107,215

8

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Diversified

Telecommunication

Services

Telefonica

Emisiones

SA

,

7.05%,

6/20/2036

100,000

111,984

Verizon

Communications,

Inc.

,

1.45%,

3/20/2026(b)

120,000

114,046

4.33%,

9/21/2028

100,000

99,075

1.75%,

1/20/2031

100,000

82,719

4.50%,

8/10/2033

80,000

76,859

3.85%,

11/1/2042

175,000

142,866

2.99%,

10/30/2056

210,000

132,427

1,729,264

Electric

Utilities

1

.6

%

AEP

Transmission

Co.

LLC

,

3.75%,

12/1/2047

10,000

7,660

American

Electric

Power

Co.,

Inc.

,

5.63%,

3/1/2033

40,000

41,028

Appalachian

Power

Co.

,

Series

Y,

4.50%,

3/1/2049

40,000

32,676

Arizona

Public

Service

Co.

,

2.20%,

12/15/2031

100,000

82,558

CenterPoint

Energy

Houston

Electric

LLC

,

3.95%,

3/1/2048

100,000

80,135

Commonwealth

Edison

Co.

,

5.30%,

2/1/2053(b)

90,000

87,693

DTE

Electric

Co.

,

Series

A,

3.00%,

3/1/2032

10,000

8,883

3.70%,

3/15/2045

80,000

63,687

Series

B,

3.65%,

3/1/2052

10,000

7,570

Duke

Energy

Corp.

,

5.75%,

9/15/2033

25,000

26,015

3.30%,

6/15/2041(b)

50,000

37,514

4.20%,

6/15/2049

150,000

118,969

5.00%,

8/15/2052

50,000

44,840

Duke

Energy

Ohio,

Inc.

,

3.70%,

6/15/2046

100,000

76,085

Duke

Energy

Progress

LLC

,

5.25%,

3/15/2033

50,000

51,255

Emera

US

Finance

LP

,

3.55%,

6/15/2026(b)

150,000

145,020

Entergy

Arkansas

LLC

,

3.50%,

4/1/2026

100,000

98,003

5.30%,

9/15/2033

50,000

50,955

4.20%,

4/1/2049

50,000

40,551

Entergy

Louisiana

LLC

,

4.00%,

3/15/2033

50,000

46,088

Entergy

Texas,

Inc.

,

5.00%,

9/15/2052(b)

25,000

22,869

Evergy

Metro,

Inc.

,

Series

2019,

4.13%,

4/1/2049

50,000

40,298

Eversource

Energy

,

3.45%,

1/15/2050

100,000

71,136

Exelon

Corp.

,

4.05%,

4/15/2030

100,000

96,244

5.63%,

6/15/2035(b)

100,000

103,243

Florida

Power

&

Light

Co.

,

5.25%,

2/1/2041

45,000

45,055

4.13%,

6/1/2048

40,000

33,051

Fortis,

Inc.

,

3.06%,

10/4/2026

100,000

95,973

Corporate

Bonds

Principal

Amount

($)

Value

($)

Electric

Utilities

Georgia

Power

Co.

,

4.65%,

5/16/2028(b)

100,000

100,196

4.95%,

5/17/2033

100,000

100,011

4.30%,

3/15/2042

50,000

43,680

Kentucky

Utilities

Co.

,

5.13%,

11/1/2040

50,000

48,358

NextEra

Energy

Capital

Holdings,

Inc.

,

4.95%,

1/29/2026

65,000

65,072

1.88%,

1/15/2027

45,000

41,977

4.63%,

7/15/2027(b)

25,000

24,986

2.75%,

11/1/2029

100,000

90,953

2.44%,

1/15/2032(b)

25,000

20,991

5.05%,

2/28/2033

40,000

39,838

5.25%,

3/15/2034

30,000

30,249

5.55%,

3/15/2054

50,000

49,387

Northern

States

Power

Co.

,

4.13%,

5/15/2044(b)

50,000

42,162

Ohio

Power

Co.

,

5.00%,

6/1/2033

100,000

98,898

4.15%,

4/1/2048

50,000

39,755

Oklahoma

Gas

and

Electric

Co.

,

5.40%,

1/15/2033

30,000

30,811

Oncor

Electric

Delivery

Co.

LLC

,

4.30%,

5/15/2028

20,000

19,773

5.30%,

6/1/2042

50,000

49,283

4.60%,

6/1/2052

25,000

21,902

Pacific

Gas

and

Electric

Co.

,

2.50%,

2/1/2031

250,000

211,797

5.80%,

5/15/2034(b)

20,000

20,392

4.50%,

7/1/2040

50,000

42,533

4.95%,

7/1/2050

50,000

42,617

PacifiCorp

,

5.45%,

2/15/2034

20,000

20,222

6.00%,

1/15/2039(b)

25,000

26,131

5.50%,

5/15/2054(b)

25,000

23,747

5.80%,

1/15/2055(b)

25,000

24,814

Public

Service

Electric

and

Gas

Co.

,

3.95%,

5/1/2042

100,000

84,394

5.45%,

8/1/2053

25,000

25,302

Southern

California

Edison

Co.

,

5.30%,

3/1/2028(b)

50,000

50,916

Series

08-A,

5.95%,

2/1/2038

30,000

31,404

4.00%,

4/1/2047

25,000

19,825

Series

B,

4.88%,

3/1/2049

50,000

44,895

5.88%,

12/1/2053

40,000

41,066

Southern

Co.

(The)

,

3.25%,

7/1/2026

210,000

204,215

4.40%,

7/1/2046

80,000

68,882

Tampa

Electric

Co.

,

3.63%,

6/15/2050

40,000

29,680

Union

Electric

Co.

,

2.63%,

3/15/2051

100,000

61,196

Virginia

Electric

and

Power

Co.

,

Series

A,

3.50%,

3/15/2027

40,000

38,900

2.30%,

11/15/2031

50,000

42,214

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

9

Corporate

Bonds

Principal

Amount

($)

Value

($)

Electric

Utilities

Virginia

Electric

and

Power

Co.,

5.30%,

8/15/2033

100,000

101,611

Series

A,

6.00%,

5/15/2037

35,000

37,135

4.45%,

2/15/2044(b)

10,000

8,717

Series

C,

4.63%,

5/15/2052(b)

50,000

43,580

5.35%,

1/15/2054

20,000

19,536

Wisconsin

Power

and

Light

Co.

,

3.00%,

7/1/2029

100,000

93,357

Xcel

Energy,

Inc.

,

6.50%,

7/1/2036

123,000

132,833

4,205,247

Electrical

Equipment

0

.1

%

Eaton

Corp.

,

4.00%,

11/2/2032

100,000

95,522

Regal

Rexnord

Corp.

,

6.30%,

2/15/2030

50,000

52,149

Rockwell

Automation,

Inc.

,

2.80%,

8/15/2061

5,000

2,984

150,655

Electronic

Equipment,

Instruments

&

Components

0

.1

%

Amphenol

Corp.

,

2.80%,

2/15/2030

100,000

90,990

CDW

LLC

,

3.57%,

12/1/2031

30,000

26,685

Corning,

Inc.

,

5.35%,

11/15/2048(b)

70,000

67,726

Flex

Ltd.

,

3.75%,

2/1/2026(b)

200,000

195,786

381,187

Energy

Equipment

&

Services

0

.1

%

Baker

Hughes

Holdings

LLC

,

2.06%,

12/15/2026(b)

35,000

32,963

4.08%,

12/15/2047(b)

50,000

41,415

Halliburton

Co.

,

5.00%,

11/15/2045(b)

90,000

83,719

NOV,

Inc.

,

3.95%,

12/1/2042

15,000

11,621

169,718

Entertainment

0

.3

%

Netflix,

Inc.

,

4.88%,

4/15/2028

100,000

100,923

Take-Two

Interactive

Software,

Inc.

,

4.00%,

4/14/2032

10,000

9,320

TWDC

Enterprises

18

Corp.

,

3.15%,

9/17/2025

100,000

98,145

3.00%,

7/30/2046

60,000

42,167

Walt

Disney

Co.

(The)

,

2.00%,

9/1/2029

100,000

88,588

2.65%,

1/13/2031(b)

50,000

44,497

3.50%,

5/13/2040(b)

60,000

48,979

2.75%,

9/1/2049(b)

75,000

48,980

Warnermedia

Holdings,

Inc.

,

3.76%,

3/15/2027(b)

50,000

47,628

4.05%,

3/15/2029

50,000

46,325

Corporate

Bonds

Principal

Amount

($)

Value

($)

Entertainment

Warnermedia

Holdings,

Inc.,

4.28%,

3/15/2032(b)

25,000

21,686

5.05%,

3/15/2042

30,000

23,667

5.14%,

3/15/2052(b)

100,000

74,394

695,299

Financial

Services

0

.3

%

Corebridge

Financial,

Inc.

,

3.85%,

4/5/2029

50,000

47,692

3.90%,

4/5/2032(b)

25,000

22,976

4.35%,

4/5/2042

20,000

17,026

Fidelity

National

Information

Services,

Inc.

,

3.10%,

3/1/2041

30,000

22,088

Fiserv,

Inc.

,

3.50%,

7/1/2029

50,000

47,291

2.65%,

6/1/2030(b)

80,000

71,432

4.40%,

7/1/2049

25,000

20,948

Global

Payments,

Inc.

,

4.15%,

8/15/2049

50,000

38,763

Mastercard,

Inc.

,

2.00%,

11/18/2031

50,000

42,171

3.95%,

2/26/2048(b)

50,000

41,714

National

Rural

Utilities

Cooperative

Finance

Corp.

,

3.40%,

2/7/2028

50,000

48,047

5.80%,

1/15/2033

50,000

52,847

PayPal

Holdings,

Inc.

,

4.40%,

6/1/2032

20,000

19,527

5.25%,

6/1/2062

25,000

23,570

Shell

International

Finance

BV

,

6.38%,

12/15/2038

150,000

170,038

4.38%,

5/11/2045

50,000

44,064

Visa,

Inc.

,

4.30%,

12/14/2045

100,000

89,342

Voya

Financial,

Inc.

,

3.65%,

6/15/2026

100,000

97,591

917,127

Food

Products

0

.4

%

Archer-Daniels-Midland

Co.

,

2.50%,

8/11/2026

100,000

95,755

2.90%,

3/1/2032(b)

25,000

21,942

Campbell

Soup

Co.

,

4.15%,

3/15/2028

50,000

49,135

4.80%,

3/15/2048

10,000

8,910

Conagra

Brands,

Inc.

,

4.85%,

11/1/2028

75,000

74,954

5.40%,

11/1/2048(b)

15,000

14,245

General

Mills,

Inc.

,

2.88%,

4/15/2030

100,000

90,468

Hershey

Co.

(The)

,

3.13%,

11/15/2049

50,000

35,013

J

M

Smucker

Co.

(The)

,

4.25%,

3/15/2035

40,000

36,930

6.50%,

11/15/2053(b)

25,000

27,705

JBS

USA

Holding

Lux

Sarl

,

3.00%,

5/15/2032(b)

30,000

25,030

5.75%,

4/1/2033

37,000

37,175

6.75%,

3/15/2034(c)

28,000

29,964

6.50%,

12/1/2052

15,000

15,144

10

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Food

Products

Kellanova

,

3.25%,

4/1/2026

40,000

38,927

Kraft

Heinz

Foods

Co.

,

4.88%,

10/1/2049

120,000

107,174

Mead

Johnson

Nutrition

Co.

,

4.13%,

11/15/2025

110,000

108,808

Mondelez

International,

Inc.

,

2.63%,

9/4/2050

50,000

30,982

Pilgrim's

Pride

Corp.

,

6.25%,

7/1/2033

30,000

31,066

Tyson

Foods,

Inc.

,

5.10%,

9/28/2048(b)

50,000

44,888

Unilever

Capital

Corp.

,

5.90%,

11/15/2032

50,000

54,224

978,439

Gas

Utilities

0

.1

%

Atmos

Energy

Corp.

,

4.13%,

10/15/2044(b)

50,000

42,323

ONE

Gas,

Inc.

,

2.00%,

5/15/2030

20,000

17,367

Piedmont

Natural

Gas

Co.,

Inc.

,

3.50%,

6/1/2029

50,000

47,207

Southern

California

Gas

Co.

,

6.35%,

11/15/2052

40,000

44,567

Southwest

Gas

Corp.

,

3.18%,

8/15/2051

25,000

16,278

Washington

Gas

Light

Co.

,

3.65%,

9/15/2049

10,000

7,546

175,288

Ground

Transportation

0

.4

%

Burlington

Northern

Santa

Fe

LLC

,

5.05%,

3/1/2041

100,000

97,520

4.90%,

4/1/2044(b)

70,000

66,719

2.88%,

6/15/2052

25,000

16,360

Canadian

National

Railway

Co.

,

6.90%,

7/15/2028

118,000

128,154

6.20%,

6/1/2036

30,000

33,258

Canadian

Pacific

Railway

Co.

,

2.45%,

12/2/2031(b)

50,000

46,269

3.10%,

12/2/2051

35,000

23,820

4.20%,

11/15/2069

25,000

19,603

6.13%,

9/15/2115

10,000

10,527

CSX

Corp.

,

5.50%,

4/15/2041(b)

50,000

51,040

3.95%,

5/1/2050

100,000

80,961

Norfolk

Southern

Corp.

,

2.30%,

5/15/2031(b)

100,000

86,230

4.45%,

6/15/2045

50,000

43,726

5.35%,

8/1/2054

30,000

29,405

Ryder

System,

Inc.

,

2.90%,

12/1/2026

90,000

86,307

Union

Pacific

Corp.

,

3.60%,

9/15/2037

20,000

17,316

3.25%,

2/5/2050

80,000

57,502

3.84%,

3/20/2060

90,000

68,359

Corporate

Bonds

Principal

Amount

($)

Value

($)

Ground

Transportation

Union

Pacific

Corp.,

5.15%,

1/20/2063

25,000

23,857

986,933

Health

Care

Equipment

&

Supplies

0

.3

%

Abbott

Laboratories

,

3.88%,

9/15/2025

45,000

44,661

4.90%,

11/30/2046

100,000

96,932

Baxter

International,

Inc.

,

2.60%,

8/15/2026(b)

100,000

95,630

1.92%,

2/1/2027

70,000

65,189

2.27%,

12/1/2028

50,000

45,003

Becton

Dickinson

&

Co.

,

4.69%,

12/15/2044(b)

44,000

39,825

Boston

Scientific

Corp.

,

4.70%,

3/1/2049

34,000

30,947

DH

Europe

Finance

II

Sarl

,

2.60%,

11/15/2029

45,000

40,985

GE

HealthCare

Technologies,

Inc.

,

5.91%,

11/22/2032

100,000

105,328

Koninklijke

Philips

NV

,

5.00%,

3/15/2042

20,000

18,567

Medtronic,

Inc.

,

4.63%,

3/15/2045

50,000

46,299

Solventum

Corp.

,

5.45%,

2/25/2027(c)

15,000

15,142

5.60%,

3/23/2034(c)

25,000

25,152

5.90%,

4/30/2054(c)

20,000

19,649

Stryker

Corp.

,

2.90%,

6/15/2050

50,000

33,644

722,953

Health

Care

Providers

&

Services

1

.1

%

Advocate

Health

&

Hospitals

Corp.

,

4.27%,

8/15/2048

21,000

18,628

Aetna,

Inc.

,

3.88%,

8/15/2047

50,000

37,387

Ascension

Health

,

Series

B,

3.11%,

11/15/2039

40,000

32,235

Baylor

Scott

&

White

Holdings

,

Series

2021,

2.84%,

11/15/2050

20,000

13,581

Cardinal

Health,

Inc.

,

4.37%,

6/15/2047

50,000

41,390

Cencora,

Inc.

,

4.25%,

3/1/2045

50,000

42,869

Centene

Corp.

,

3.00%,

10/15/2030

80,000

69,927

2.50%,

3/1/2031

40,000

33,487

Children's

Health

System

of

Texas

,

2.51%,

8/15/2050

10,000

6,346

Cigna

Group

(The)

,

4.38%,

10/15/2028

50,000

49,306

4.80%,

8/15/2038

50,000

47,462

3.40%,

3/15/2050

125,000

87,509

CommonSpirit

Health

,

2.78%,

10/1/2030

62,000

55,082

4.19%,

10/1/2049

25,000

20,609

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

11

Corporate

Bonds

Principal

Amount

($)

Value

($)

Health

Care

Providers

&

Services

CVS

Health

Corp.

,

5.00%,

2/20/2026

50,000

49,993

4.30%,

3/25/2028(b)

59,000

57,843

5.40%,

6/1/2029

25,000

25,505

3.75%,

4/1/2030

50,000

47,052

5.55%,

6/1/2031

25,000

25,553

2.13%,

9/15/2031

90,000

73,968

5.70%,

6/1/2034

25,000

25,509

4.78%,

3/25/2038

75,000

68,891

6.00%,

6/1/2044

25,000

25,129

5.05%,

3/25/2048

100,000

88,192

5.88%,

6/1/2053

35,000

34,368

6.05%,

6/1/2054(b)

25,000

25,140

Elevance

Health,

Inc.

,

4.75%,

2/15/2033(b)

60,000

59,235

4.65%,

8/15/2044(b)

115,000

103,104

HCA,

Inc.

,

4.50%,

2/15/2027

250,000

247,179

3.63%,

3/15/2032

100,000

90,030

5.50%,

6/15/2047

20,000

19,092

4.63%,

3/15/2052

70,000

57,810

6.00%,

4/1/2054

20,000

20,151

Humana,

Inc.

,

3.95%,

8/15/2049

50,000

38,281

5.75%,

4/15/2054

15,000

14,773

Kaiser

Foundation

Hospitals

,

4.15%,

5/1/2047(b)

50,000

43,326

Series

2021,

3.00%,

6/1/2051

15,000

10,411

Laboratory

Corp.

of

America

Holdings

,

2.95%,

12/1/2029

50,000

45,592

McKesson

Corp.

,

1.30%,

8/15/2026

100,000

93,365

3.95%,

2/16/2028

100,000

97,694

Memorial

Sloan-Kettering

Cancer

Center

,

Series

2020,

2.96%,

1/1/2050

29,000

20,175

Northwell

Healthcare,

Inc.

,

4.26%,

11/1/2047

20,000

16,618

NYU

Langone

Hospitals

,

4.78%,

7/1/2044

30,000

28,431

Piedmont

Healthcare,

Inc.

,

Series

2032,

2.04%,

1/1/2032

100,000

82,893

Providence

St

Joseph

Health

Obligated

Group

,

Series

A,

3.93%,

10/1/2048

15,000

11,854

Quest

Diagnostics,

Inc.

,

4.20%,

6/30/2029

50,000

48,978

Stanford

Health

Care

,

Series

2018,

3.80%,

11/15/2048

12,000

9,881

Sutter

Health

,

Series

2018,

4.09%,

8/15/2048

36,000

30,609

UnitedHealth

Group,

Inc.

,

3.88%,

12/15/2028

200,000

195,024

4.80%,

1/15/2030

25,000

25,229

4.95%,

1/15/2032

25,000

25,245

4.50%,

4/15/2033

75,000

73,117

Corporate

Bonds

Principal

Amount

($)

Value

($)

Health

Care

Providers

&

Services

UnitedHealth

Group,

Inc.,

5.15%,

7/15/2034

25,000

25,381

2.75%,

5/15/2040

60,000

44,115

3.05%,

5/15/2041(b)

50,000

37,827

5.50%,

7/15/2044

25,000

25,285

4.25%,

4/15/2047

60,000

51,038

3.25%,

5/15/2051

100,000

70,484

5.88%,

2/15/2053

20,000

21,164

5.63%,

7/15/2054(b)

25,000

25,633

3.13%,

5/15/2060

50,000

32,448

5.20%,

4/15/2063

30,000

28,423

5.75%,

7/15/2064

25,000

25,676

2,998,532

Health

Care

REITs

0

.2

%

Alexandria

Real

Estate

Equities,

Inc.

,

1.88%,

2/1/2033

40,000

30,981

4.00%,

2/1/2050

50,000

37,890

Healthcare

Realty

Holdings

LP

,

3.10%,

2/15/2030

50,000

44,743

Healthpeak

OP

LLC

,

2.88%,

1/15/2031

50,000

44,235

Omega

Healthcare

Investors,

Inc.

,

4.50%,

4/1/2027

100,000

97,986

Ventas

Realty

LP

,

3.00%,

1/15/2030

70,000

63,305

Welltower

OP

LLC

,

3.10%,

1/15/2030(b)

100,000

91,641

410,781

Hotel

&

Resort

REITs

0

.0

%

†

Host

Hotels

&

Resorts

LP

,

Series

H,

3.38%,

12/15/2029

50,000

45,638

Hotels,

Restaurants

&

Leisure

0

.2

%

Booking

Holdings,

Inc.

,

4.63%,

4/13/2030

50,000

50,193

Expedia

Group,

Inc.

,

3.80%,

2/15/2028

50,000

48,288

3.25%,

2/15/2030

15,000

13,813

Marriott

International,

Inc.

,

Series

R,

3.13%,

6/15/2026

200,000

193,631

McDonald's

Corp.

,

3.50%,

7/1/2027(b)

100,000

97,047

3.70%,

2/15/2042

40,000

32,154

4.88%,

12/9/2045(b)

50,000

46,191

3.63%,

9/1/2049

50,000

37,215

Starbucks

Corp.

,

3.50%,

11/15/2050

100,000

71,737

590,269

Household

Durables

0

.1

%

MDC

Holdings,

Inc.

,

2.50%,

1/15/2031

50,000

44,454

PulteGroup,

Inc.

,

5.00%,

1/15/2027

100,000

100,468

144,922

12

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Household

Products

0

.1

%

Church

&

Dwight

Co.,

Inc.

,

5.00%,

6/15/2052

10,000

9,502

Colgate-Palmolive

Co.

,

3.70%,

8/1/2047

50,000

41,083

Kimberly-Clark

Corp.

,

2.88%,

2/7/2050

50,000

34,398

Procter

&

Gamble

Co.

(The)

,

3.00%,

3/25/2030(b)

100,000

93,858

178,841

Independent

Power

and

Renewable

Electricity

Producers

0

.0

%

†

Constellation

Energy

Generation

LLC

,

5.60%,

6/15/2042

50,000

49,358

Oglethorpe

Power

Corp.

,

5.05%,

10/1/2048

25,000

22,412

71,770

Industrial

Conglomerates

0

.1

%

3M

Co.

,

3.63%,

10/15/2047

30,000

22,573

4.00%,

9/14/2048

40,000

33,002

Honeywell

International,

Inc.

,

1.10%,

3/1/2027

30,000

27,585

3.81%,

11/21/2047

50,000

40,459

5.25%,

3/1/2054

30,000

29,749

Pentair

Finance

Sarl

,

5.90%,

7/15/2032

30,000

31,540

184,908

Industrial

REITs

0

.0

%

†

Prologis

LP

,

2.88%,

11/15/2029(b)

40,000

36,740

1.25%,

10/15/2030

100,000

81,970

2.13%,

10/15/2050

30,000

16,431

135,141

Insurance

0

.7

%

Allstate

Corp.

(The)

,

5.55%,

5/9/2035

75,000

77,817

4.20%,

12/15/2046

10,000

8,305

American

International

Group,

Inc.

,

5.13%,

3/27/2033

100,000

100,839

4.75%,

4/1/2048(b)

10,000

9,101

Aon

Global

Ltd.

,

4.75%,

5/15/2045

50,000

44,626

Aon

North

America,

Inc.

,

5.75%,

3/1/2054

35,000

35,305

Arch

Capital

Group

Ltd.

,

3.64%,

6/30/2050

50,000

36,288

Arthur

J

Gallagher

&

Co.

,

5.75%,

3/2/2053

20,000

19,909

Athene

Holding

Ltd.

,

4.13%,

1/12/2028

100,000

97,641

Berkshire

Hathaway

Finance

Corp.

,

2.88%,

3/15/2032

100,000

89,632

4.40%,

5/15/2042

90,000

84,348

Brighthouse

Financial,

Inc.

,

5.63%,

5/15/2030

50,000

51,250

Corporate

Bonds

Principal

Amount

($)

Value

($)

Insurance

Chubb

INA

Holdings

LLC

,

4.35%,

11/3/2045

100,000

88,168

CNA

Financial

Corp.

,

3.90%,

5/1/2029(b)

50,000

48,197

Enstar

Group

Ltd.

,

3.10%,

9/1/2031

40,000

32,979

Everest

Reinsurance

Holdings,

Inc.

,

3.50%,

10/15/2050

50,000

34,264

Globe

Life,

Inc.

,

2.15%,

8/15/2030

50,000

41,731

Hartford

Financial

Services

Group,

Inc.

(The)

,

6.10%,

10/1/2041

50,000

52,658

Lincoln

National

Corp.

,

4.35%,

3/1/2048

50,000

39,399

Manulife

Financial

Corp.

,

4.15%,

3/4/2026

100,000

98,852

Markel

Group,

Inc.

,

5.00%,

5/20/2049

50,000

44,960

Marsh

&

McLennan

Cos.,

Inc.

,

5.40%,

9/15/2033

75,000

78,087

4.90%,

3/15/2049

50,000

46,214

MetLife,

Inc.

,

5.70%,

6/15/2035

86,000

90,897

4.13%,

8/13/2042

50,000

42,627

5.00%,

7/15/2052

25,000

23,424

Principal

Financial

Group,

Inc.

,

3.70%,

5/15/2029

50,000

47,708

Progressive

Corp.

(The)

,

3.95%,

3/26/2050

50,000

40,378

Prudential

Financial,

Inc.

,

5.75%,

7/15/2033

10,000

10,711

6.63%,

6/21/2040

100,000

111,798

3.70%,

3/13/2051

30,000

22,445

Travelers

Cos.,

Inc.

(The)

,

5.35%,

11/1/2040

15,000

15,201

4.00%,

5/30/2047

15,000

12,451

Travelers

Property

Casualty

Corp.

,

6.38%,

3/15/2033

30,000

33,495

Unum

Group

,

6.00%,

6/15/2054

10,000

9,865

Willis

North

America,

Inc.

,

4.65%,

6/15/2027

50,000

49,708

2.95%,

9/15/2029

30,000

27,340

1,798,618

Interactive

Media

&

Services

0

.1

%

Alphabet,

Inc.

,

2.05%,

8/15/2050(b)

50,000

29,503

Meta

Platforms,

Inc.

,

3.85%,

8/15/2032

100,000

94,858

4.45%,

8/15/2052

15,000

13,160

5.60%,

5/15/2053(b)

35,000

36,490

4.65%,

8/15/2062

25,000

22,107

196,118

IT

Services

0

.1

%

IBM

International

Capital

Pte.

Ltd.

,

4.60%,

2/5/2027(b)

100,000

100,048

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

13

Corporate

Bonds

Principal

Amount

($)

Value

($)

IT

Services

International

Business

Machines

Corp.

,

3.50%,

5/15/2029

100,000

95,153

1.95%,

5/15/2030(b)

100,000

86,478

4.25%,

5/15/2049

100,000

83,244

364,923

Leisure

Products

0

.0

%

†

Hasbro,

Inc.

,

3.55%,

11/19/2026

20,000

19,325

3.90%,

11/19/2029(b)

50,000

47,180

66,505

Life

Sciences

Tools

&

Services

0

.1

%

Agilent

Technologies,

Inc.

,

2.75%,

9/15/2029

20,000

18,236

Danaher

Corp.

,

2.60%,

10/1/2050

75,000

47,388

Revvity,

Inc.

,

3.30%,

9/15/2029

50,000

46,347

Thermo

Fisher

Scientific,

Inc.

,

1.75%,

10/15/2028

40,000

35,972

2.60%,

10/1/2029

65,000

59,406

2.80%,

10/15/2041

30,000

22,000

229,349

Machinery

0

.2

%

Caterpillar,

Inc.

,

3.25%,

9/19/2049

75,000

55,259

Deere

&

Co.

,

3.90%,

6/9/2042

100,000

86,000

Illinois

Tool

Works,

Inc.

,

4.88%,

9/15/2041

50,000

48,754

nVent

Finance

Sarl

,

5.65%,

5/15/2033(b)

50,000

50,956

Otis

Worldwide

Corp.

,

3.11%,

2/15/2040

50,000

38,195

Parker-Hannifin

Corp.

,

3.25%,

6/14/2029

100,000

93,790

Snap-on,

Inc.

,

3.10%,

5/1/2050

50,000

34,604

Stanley

Black

&

Decker,

Inc.

,

3.00%,

5/15/2032

10,000

8,760

Westinghouse

Air

Brake

Technologies

Corp.

,

4.70%,

9/15/2028(e)

20,000

19,890

436,208

Media

0

.6

%

Charter

Communications

Operating

LLC

,

3.75%,

2/15/2028

50,000

47,313

2.25%,

1/15/2029

25,000

21,871

2.80%,

4/1/2031

150,000

125,881

3.50%,

3/1/2042

50,000

34,270

5.75%,

4/1/2048

20,000

17,279

4.80%,

3/1/2050(b)

30,000

22,659

3.70%,

4/1/2051

100,000

63,104

5.25%,

4/1/2053

50,000

40,446

3.85%,

4/1/2061

25,000

15,092

Comcast

Corp.

,

3.95%,

10/15/2025

140,000

138,496

Corporate

Bonds

Principal

Amount

($)

Value

($)

Media

Comcast

Corp.,

4.15%,

10/15/2028

60,000

59,056

3.40%,

4/1/2030

20,000

18,757

1.50%,

2/15/2031

100,000

81,991

4.80%,

5/15/2033(b)

60,000

59,716

3.75%,

4/1/2040

90,000

74,772

3.97%,

11/1/2047

96,000

76,763

4.70%,

10/15/2048

100,000

90,428

2.89%,

11/1/2051

100,000

64,111

5.35%,

5/15/2053

25,000

24,472

4.95%,

10/15/2058

12,000

11,011

2.99%,

11/1/2063

19,000

11,488

Discovery

Communications

LLC

,

5.20%,

9/20/2047

50,000

38,133

Fox

Corp.

,

5.48%,

1/25/2039(b)

50,000

49,269

Omnicom

Group,

Inc.

,

3.60%,

4/15/2026

250,000

244,238

Paramount

Global

,

5.50%,

5/15/2033

55,000

48,988

4.38%,

3/15/2043

50,000

34,966

Time

Warner

Cable

LLC

,

6.75%,

6/15/2039

90,000

89,129

1,603,699

Metals

&

Mining

0

.2

%

ArcelorMittal

SA

,

6.55%,

11/29/2027

25,000

26,114

6.80%,

11/29/2032

25,000

27,046

Barrick

North

America

Finance

LLC

,

5.70%,

5/30/2041

40,000

40,767

BHP

Billiton

Finance

USA

Ltd.

,

5.10%,

9/8/2028

80,000

81,490

5.00%,

9/30/2043

50,000

48,155

Freeport-McMoRan,

Inc.

,

5.45%,

3/15/2043(b)

25,000

23,964

Newmont

Corp.

,

2.60%,

7/15/2032(b)

60,000

51,528

Nucor

Corp.

,

3.85%,

4/1/2052

40,000

31,169

Rio

Tinto

Alcan,

Inc.

,

5.75%,

6/1/2035

80,000

85,711

Southern

Copper

Corp.

,

6.75%,

4/16/2040

50,000

55,243

Vale

Overseas

Ltd.

,

8.25%,

1/17/2034

80,000

94,921

566,108

Multi-Utilities

0

.3

%

Ameren

Corp.

,

5.00%,

1/15/2029

20,000

20,121

Berkshire

Hathaway

Energy

Co.

,

6.13%,

4/1/2036

20,000

21,569

4.45%,

1/15/2049

50,000

42,099

4.25%,

10/15/2050

100,000

81,144

4.60%,

5/1/2053(b)

20,000

17,205

Black

Hills

Corp.

,

3.05%,

10/15/2029

25,000

22,757

14

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Multi-Utilities

CMS

Energy

Corp.

,

3.00%,

5/15/2026

50,000

48,283

Consolidated

Edison

Co.

of

New

York,

Inc.

,

6.15%,

11/15/2052

45,000

49,238

3.70%,

11/15/2059

100,000

71,849

Consumers

Energy

Co.

,

3.75%,

2/15/2050

50,000

39,305

DTE

Energy

Co.

,

4.88%,

6/1/2028(b)

50,000

50,013

NiSource,

Inc.

,

4.38%,

5/15/2047

50,000

41,641

Puget

Sound

Energy,

Inc.

,

3.25%,

9/15/2049

50,000

33,883

San

Diego

Gas

&

Electric

Co.

,

6.00%,

6/1/2039

30,000

32,641

Sempra

,

4.00%,

2/1/2048(b)

50,000

39,184

Southern

Co.

Gas

Capital

Corp.

,

Series

20-A,

1.75%,

1/15/2031

50,000

41,357

WEC

Energy

Group,

Inc.

,

1.80%,

10/15/2030(b)

100,000

83,691

735,980

Office

REITs

0

.1

%

Boston

Properties

LP

,

2.75%,

10/1/2026

150,000

141,440

Kilroy

Realty

LP

,

3.05%,

2/15/2030

50,000

43,235

184,675

Oil,

Gas

&

Consumable

Fuels

1

.6

%

Apache

Corp.

,

5.10%,

9/1/2040

40,000

35,011

BP

Capital

Markets

America,

Inc.

,

4.23%,

11/6/2028

150,000

147,886

1.75%,

8/10/2030(b)

200,000

170,326

2.72%,

1/12/2032

100,000

86,843

4.89%,

9/11/2033

30,000

29,868

Canadian

Natural

Resources

Ltd.

,

6.25%,

3/15/2038

35,000

37,036

Cenovus

Energy,

Inc.

,

6.75%,

11/15/2039

5,000

5,522

3.75%,

2/15/2052

35,000

25,561

Cheniere

Corpus

Christi

Holdings

LLC

,

5.13%,

6/30/2027

100,000

100,496

2.74%,

12/31/2039

25,000

20,412

Cheniere

Energy

Partners

LP

,

4.00%,

3/1/2031

50,000

46,277

Chevron

Corp.

,

2.95%,

5/16/2026

250,000

243,009

ConocoPhillips

Co.

,

3.76%,

3/15/2042

50,000

40,808

5.30%,

5/15/2053

25,000

24,366

4.03%,

3/15/2062

60,000

46,229

Devon

Energy

Corp.

,

5.00%,

6/15/2045(b)

50,000

43,914

Corporate

Bonds

Principal

Amount

($)

Value

($)

Oil,

Gas

&

Consumable

Fuels

Diamondback

Energy,

Inc.

,

5.40%,

4/18/2034

15,000

15,184

4.25%,

3/15/2052

25,000

19,923

5.75%,

4/18/2054

15,000

14,847

Enbridge

Energy

Partners

LP

,

7.38%,

10/15/2045

50,000

58,170

Enbridge,

Inc.

,

5.70%,

3/8/2033(b)

40,000

41,301

6.70%,

11/15/2053

35,000

39,103

Energy

Transfer

LP

,

4.75%,

1/15/2026

100,000

99,596

5.55%,

2/15/2028

50,000

50,928

5.25%,

4/15/2029

100,000

101,489

3.75%,

5/15/2030(b)

150,000

141,290

5.30%,

4/15/2047(b)

25,000

22,747

5.40%,

10/1/2047(b)

25,000

23,057

5.00%,

5/15/2050(b)

100,000

87,214

Enterprise

Products

Operating

LLC

,

2.80%,

1/31/2030

30,000

27,365

4.45%,

2/15/2043(b)

45,000

39,692

4.95%,

10/15/2054

150,000

138,219

Equinor

ASA

,

3.70%,

4/6/2050

100,000

78,258

Exxon

Mobil

Corp.

,

3.00%,

8/16/2039

50,000

39,478

4.11%,

3/1/2046(b)

100,000

85,496

Hess

Corp.

,

4.30%,

4/1/2027(b)

100,000

98,763

5.60%,

2/15/2041(b)

25,000

25,423

Kinder

Morgan

Energy

Partners

LP

,

5.80%,

3/15/2035

30,000

30,945

5.00%,

3/1/2043

40,000

35,802

Kinder

Morgan,

Inc.

,

4.80%,

2/1/2033

50,000

48,422

5.40%,

2/1/2034(b)

35,000

35,260

5.55%,

6/1/2045

50,000

48,126

5.45%,

8/1/2052

25,000

23,594

Marathon

Oil

Corp.

,

6.80%,

3/15/2032

52,000

57,679

Marathon

Petroleum

Corp.

,

3.80%,

4/1/2028

50,000

48,398

4.50%,

4/1/2048

30,000

24,680

MPLX

LP

,

4.00%,

3/15/2028

75,000

72,904

4.50%,

4/15/2038(b)

25,000

22,554

5.20%,

12/1/2047(b)

30,000

27,211

4.70%,

4/15/2048

50,000

42,392

4.95%,

3/14/2052

25,000

21,786

Occidental

Petroleum

Corp.

,

6.63%,

9/1/2030(b)

50,000

53,365

6.45%,

9/15/2036

50,000

53,409

ONEOK,

Inc.

,

5.80%,

11/1/2030

75,000

78,357

6.05%,

9/1/2033(b)

30,000

31,558

4.25%,

9/15/2046

50,000

40,219

5.20%,

7/15/2048(b)

30,000

27,134

6.63%,

9/1/2053

20,000

21,856

Ovintiv,

Inc.

,

6.50%,

2/1/2038

30,000

31,476

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

15

Corporate

Bonds

Principal

Amount

($)

Value

($)

Oil,

Gas

&

Consumable

Fuels

Phillips

66

,

5.88%,

5/1/2042

60,000

61,907

Plains

All

American

Pipeline

LP

,

4.70%,

6/15/2044

50,000

42,611

Sabine

Pass

Liquefaction

LLC

,

5.00%,

3/15/2027(b)

250,000

250,747

Suncor

Energy,

Inc.

,

6.50%,

6/15/2038

25,000

27,592

4.00%,

11/15/2047

10,000

7,742

3.75%,

3/4/2051

25,000

18,326

Targa

Resources

Corp.

,

5.20%,

7/1/2027

25,000

25,256

6.13%,

3/15/2033

30,000

31,558

6.25%,

7/1/2052

25,000

25,931

TotalEnergies

Capital

International

SA

,

3.46%,

2/19/2029

100,000

95,656

3.46%,

7/12/2049(b)

50,000

37,008

TransCanada

PipeLines

Ltd.

,

6.20%,

10/15/2037

50,000

52,931

5.10%,

3/15/2049

35,000

32,659

Valero

Energy

Corp.

,

6.63%,

6/15/2037

70,000

76,668

Western

Midstream

Operating

LP

,

4.05%,

2/1/2030(e)

30,000

28,422

5.25%,

2/1/2050(e)

20,000

17,747

Williams

Cos.,

Inc.

(The)

,

5.30%,

8/15/2028

75,000

76,430

2.60%,

3/15/2031

25,000

21,624

6.30%,

4/15/2040

25,000

26,514

5.40%,

3/4/2044

50,000

47,952

4,233,515

Paper

&

Forest

Products

0

.1

%

Georgia-Pacific

LLC

,

8.88%,

5/15/2031

50,000

61,358

Suzano

Austria

GmbH

,

3.75%,

1/15/2031

100,000

88,694

150,052

Passenger

Airlines

0

.0

%

†

Southwest

Airlines

Co.

,

2.63%,

2/10/2030

25,000

22,134

Personal

Care

Products

0

.0

%

†

Estee

Lauder

Cos.,

Inc.

(The)

,

3.13%,

12/1/2049

30,000

20,487

Kenvue,

Inc.

,

4.90%,

3/22/2033(b)

100,000

100,942

121,429

Pharmaceuticals

0

.9

%

AstraZeneca

plc

,

1.38%,

8/6/2030(b)

75,000

62,818

4.38%,

8/17/2048

100,000

88,583

Bristol-Myers

Squibb

Co.

,

3.40%,

7/26/2029(b)

30,000

28,536

5.20%,

2/22/2034

40,000

40,966

3.55%,

3/15/2042(b)

50,000

40,037

6.25%,

11/15/2053

50,000

55,330

Corporate

Bonds

Principal

Amount

($)

Value

($)

Pharmaceuticals

Bristol-Myers

Squibb

Co.,

5.55%,

2/22/2054

50,000

50,656

3.90%,

3/15/2062

70,000

52,196

Eli

Lilly

&

Co.

,

4.50%,

2/9/2027

20,000

20,048

4.70%,

2/9/2034(b)

30,000

30,074

2.25%,

5/15/2050

60,000

35,997

4.95%,

2/27/2063(b)

30,000

28,606

GlaxoSmithKline

Capital,

Inc.

,

5.38%,

4/15/2034

90,000

94,879

Johnson

&

Johnson

,

4.95%,

5/15/2033(b)

287,000

301,424

3.63%,

3/3/2037

70,000

62,825

3.70%,

3/1/2046

50,000

41,425

Merck

&

Co.,

Inc.

,

4.30%,

5/17/2030(b)

100,000

99,352

4.15%,

5/18/2043

100,000

87,566

4.00%,

3/7/2049

100,000

82,886

Novartis

Capital

Corp.

,

2.20%,

8/14/2030(b)

100,000

88,579

2.75%,

8/14/2050(b)

20,000

13,421

Pfizer

Investment

Enterprises

Pte.

Ltd.

,

4.45%,

5/19/2026(b)

110,000

109,586

4.45%,

5/19/2028(b)

150,000

149,632

4.65%,

5/19/2030

100,000

100,689

4.75%,

5/19/2033

65,000

64,791

5.30%,

5/19/2053(b)

80,000

79,003

5.34%,

5/19/2063

40,000

38,972

Pfizer,

Inc.

,

1.75%,

8/18/2031(b)

100,000

83,184

4.13%,

12/15/2046

50,000

42,376

Royalty

Pharma

plc

,

3.55%,

9/2/2050(b)

40,000

27,743

Sanofi

SA

,

3.63%,

6/19/2028

50,000

48,958

Utah

Acquisition

Sub,

Inc.

,

3.95%,

6/15/2026

60,000

58,839

5.25%,

6/15/2046(b)

20,000

17,114

Viatris,

Inc.

,

4.00%,

6/22/2050

50,000

34,934

Zoetis,

Inc.

,

4.50%,

11/13/2025

115,000

114,304

4.70%,

2/1/2043

50,000

45,658

2,421,987

Professional

Services

0

.1

%

Automatic

Data

Processing,

Inc.

,

1.25%,

9/1/2030

100,000

83,359

Broadridge

Financial

Solutions,

Inc.

,

3.40%,

6/27/2026(b)

80,000

77,707

Concentrix

Corp.

,

6.85%,

8/2/2033

20,000

20,414

Jacobs

Engineering

Group,

Inc.

,

6.35%,

8/18/2028

25,000

26,141

Thomson

Reuters

Corp.

,

3.35%,

5/15/2026

140,000

136,217

343,838

16

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Corporate

Bonds

Principal

Amount

($)

Value

($)

Residential

REITs

0

.1

%

Camden

Property

Trust

,

3.35%,

11/1/2049

10,000

7,141

ERP

Operating

LP

,

2.85%,

11/1/2026(b)

250,000

240,238

Essex

Portfolio

LP

,

3.00%,

1/15/2030

50,000

45,372

UDR,

Inc.

,

3.20%,

1/15/2030

50,000

46,079

338,830

Retail

REITs

0

.1

%

Brixmor

Operating

Partnership

LP

,

4.13%,

5/15/2029

50,000

48,106

Federal

Realty

OP

LP

,

3.20%,

6/15/2029

20,000

18,445

Kimco

Realty

OP

LLC

,

4.45%,

9/1/2047(b)

50,000

41,143

NNN

REIT,

Inc.

,

3.50%,

4/15/2051

25,000

17,703

Realty

Income

Corp.

,

3.25%,

6/15/2029

90,000

84,421

4.00%,

7/15/2029

25,000

24,173

233,991

Semiconductors

&

Semiconductor

Equipment

0

.6

%

Analog

Devices,

Inc.

,

2.10%,

10/1/2031

65,000

55,046

Applied

Materials,

Inc.

,

5.85%,

6/15/2041

50,000

54,365

Broadcom,

Inc.

,

4.15%,

11/15/2030

128,000

123,297

3.47%,

4/15/2034(c)

35,000

30,566

4.93%,

5/15/2037(c)

100,000

96,500

3.50%,

2/15/2041(c)

50,000

39,372

Intel

Corp.

,

4.88%,

2/10/2026

50,000

50,026

3.75%,

3/25/2027(b)

50,000

48,933

4.88%,

2/10/2028(b)

35,000

35,331

5.13%,

2/10/2030

50,000

51,228

5.20%,

2/10/2033

50,000

51,007

2.80%,

8/12/2041

45,000

31,984

3.73%,

12/8/2047

30,000

22,743

3.05%,

8/12/2051

100,000

65,127

5.70%,

2/10/2053(b)

20,000

20,168

3.10%,

2/15/2060

35,000

21,793

5.90%,

2/10/2063

25,000

25,591

KLA

Corp.

,

3.30%,

3/1/2050

50,000

36,218

Lam

Research

Corp.

,

2.88%,

6/15/2050

55,000

37,026

Micron

Technology,

Inc.

,

4.19%,

2/15/2027

100,000

98,259

5.88%,

9/15/2033

50,000

52,138

NVIDIA

Corp.

,

3.50%,

4/1/2050(b)

40,000

31,542

NXP

BV

,

4.30%,

6/18/2029

50,000

48,876

5.00%,

1/15/2033

50,000

49,726

QUALCOMM,

Inc.

,

1.65%,

5/20/2032(b)

100,000

80,779

4.65%,

5/20/2035

100,000

100,025

Corporate

Bonds

Principal

Amount

($)

Value

($)

Semiconductors

&

Semiconductor

Equipment

Texas

Instruments,

Inc.

,

4.15%,

5/15/2048

45,000

38,532

5.00%,

3/14/2053(b)

35,000

33,866

TSMC

Arizona

Corp.

,

2.50%,

10/25/2031

200,000

173,292

1,603,356

Software

0

.5

%

Intuit,

Inc.

,

5.50%,

9/15/2053(b)

15,000

15,470

Microsoft

Corp.

,

3.50%,

2/12/2035

65,000

60,258

3.70%,

8/8/2046(b)

50,000

42,311

2.50%,

9/15/2050

50,000

32,217

2.92%,

3/17/2052

200,000

140,479

Oracle

Corp.

,

5.80%,

11/10/2025

80,000

80,826

2.65%,

7/15/2026

45,000

43,167

4.65%,

5/6/2030(b)

80,000

79,832

2.88%,

3/25/2031

50,000

44,240

6.25%,

11/9/2032

20,000

21,590

4.30%,

7/8/2034

100,000

93,588

3.60%,

4/1/2040(b)

100,000

79,134

3.60%,

4/1/2050

25,000

17,922

6.90%,

11/9/2052(b)

20,000

22,947

5.55%,

2/6/2053

70,000

68,080

3.85%,

4/1/2060

100,000

71,033

Roper

Technologies,

Inc.

,

1.00%,

9/15/2025

60,000

57,315

1.75%,

2/15/2031

20,000

16,488

Salesforce,

Inc.

,

2.90%,

7/15/2051

50,000

33,190

ServiceNow,

Inc.

,

1.40%,

9/1/2030

75,000

62,682

VMware

LLC

,

2.20%,

8/15/2031

100,000

83,520

Workday,

Inc.

,

3.80%,

4/1/2032

30,000

27,704

1,193,993

Specialized

REITs

0

.3

%

American

Tower

Corp.

,

3.38%,

10/15/2026

100,000

96,670

5.80%,

11/15/2028(b)

50,000

51,871

3.70%,

10/15/2049

50,000

37,272

Crown

Castle,

Inc.

,

1.05%,

7/15/2026

80,000

74,198

5.00%,

1/11/2028

90,000

90,290

2.25%,

1/15/2031

30,000

25,340

4.00%,

11/15/2049

60,000

46,859

CubeSmart

LP

,

2.25%,

12/15/2028

40,000

35,925

2.50%,

2/15/2032

45,000

37,995

Equinix,

Inc.

,

3.20%,

11/18/2029

35,000

32,341

2.15%,

7/15/2030

100,000

86,087

Extra

Space

Storage

LP

,

5.50%,

7/1/2030

30,000

30,868

Public

Storage

Operating

Co.

,

1.50%,

11/9/2026

55,000

51,306

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

17

Corporate

Bonds

Principal

Amount

($)

Value

($)

Specialized

REITs

Public

Storage

Operating

Co.,

2.25%,

11/9/2031

50,000

42,187

739,209

Specialty

Retail

0

.3

%

AutoNation,

Inc.

,

2.40%,

8/1/2031

25,000

20,647

AutoZone,

Inc.

,

4.75%,

2/1/2033

35,000

34,193

Home

Depot,

Inc.

(The)

,

2.70%,

4/15/2030

100,000

90,806

3.25%,

4/15/2032

25,000

22,758

5.88%,

12/16/2036

25,000

27,180

4.40%,

3/15/2045

50,000

44,501

4.50%,

12/6/2048

100,000

89,044

5.30%,

6/25/2054

60,000

59,706

Lowe's

Cos.,

Inc.

,

3.65%,

4/5/2029

100,000

95,670

3.75%,

4/1/2032(b)

85,000

78,826

5.00%,

4/15/2040

30,000

28,264

4.05%,

5/3/2047(b)

40,000

31,829

3.00%,

10/15/2050

80,000

51,631

4.25%,

4/1/2052

35,000

28,166

TJX

Cos.,

Inc.

(The)

,

3.88%,

4/15/2030

100,000

96,852

800,073

Technology

Hardware,

Storage

&

Peripherals

0

.4

%

Apple,

Inc.

,

2.45%,

8/4/2026(b)

190,000

182,584

3.00%,

11/13/2027(b)

100,000

96,079

1.65%,

5/11/2030

25,000

21,592

1.65%,

2/8/2031(b)

200,000

169,574

3.85%,

5/4/2043(b)

50,000

43,313

4.38%,

5/13/2045

145,000

133,698

2.65%,

2/8/2051

100,000

65,578

2.80%,

2/8/2061

60,000

38,125

Dell

International

LLC

,

4.90%,

10/1/2026

60,000

59,999

3.38%,

12/15/2041

25,000

18,870

8.35%,

7/15/2046

13,000

16,895

Hewlett

Packard

Enterprise

Co.

,

6.35%,

10/15/2045(e)

25,000

26,929

HP,

Inc.

,

4.00%,

4/15/2029

10,000

9,681

6.00%,

9/15/2041

50,000

52,184

935,101

Textiles,

Apparel

&

Luxury

Goods

0

.0

%

†

NIKE,

Inc.

,

2.85%,

3/27/2030(b)

50,000

45,960

3.38%,

11/1/2046

30,000

22,733

Tapestry,

Inc.

,

7.85%,

11/27/2033

20,000

21,328

90,021

Tobacco

0

.2

%

Altria

Group,

Inc.

,

2.45%,

2/4/2032

50,000

41,510

3.88%,

9/16/2046

120,000

89,916

Corporate

Bonds

Principal

Amount

($)

Value

($)

Tobacco

BAT

Capital

Corp.

,

4.39%,

8/15/2037

100,000

87,853

4.76%,

9/6/2049

25,000

20,448

BAT

International

Finance

plc

,

5.93%,

2/2/2029

50,000

52,029

Philip

Morris

International,

Inc.

,

5.00%,

11/17/2025

20,000

20,027

5.13%,

11/17/2027(b)

20,000

20,269

5.63%,

11/17/2029

20,000

20,888

5.13%,

2/15/2030(b)

75,000

76,238

5.38%,

2/15/2033(b)

50,000

50,998

5.25%,

2/13/2034(b)

30,000

30,230

4.13%,

3/4/2043

70,000

58,305

Reynolds

American,

Inc.

,

5.70%,

8/15/2035

75,000

75,797

644,508

Trading

Companies

&

Distributors

0

.1

%

Air

Lease

Corp.

,

3.63%,

12/1/2027(b)

150,000

143,965

GATX

Corp.

,

4.00%,

6/30/2030

100,000

95,257

239,222

Water

Utilities

0

.0

%

†

American

Water

Capital

Corp.

,

4.30%,

9/1/2045

50,000

42,744

Wireless

Telecommunication

Services

0

.3

%

America

Movil

SAB

de

CV

,

6.38%,

3/1/2035

83,000

91,160

Rogers

Communications,

Inc.

,

3.20%,

3/15/2027

10,000

9,605

5.00%,

3/15/2044

100,000

91,646

T-Mobile

USA,

Inc.

,

3.75%,

4/15/2027

100,000

97,466

4.80%,

7/15/2028(b)

20,000

20,059

3.88%,

4/15/2030

100,000

95,367

2.55%,

2/15/2031

30,000

26,066

5.05%,

7/15/2033(b)

20,000

20,030

4.38%,

4/15/2040

50,000

44,335

4.50%,

4/15/2050

100,000

85,562

5.65%,

1/15/2053

30,000

30,261

5.75%,

1/15/2054

10,000

10,213

5.80%,

9/15/2062

25,000

25,507

Vodafone

Group

plc

,

6.15%,

2/27/2037

15,000

16,246

4.25%,

9/17/2050(b)

90,000

72,504

736,027

Total

Corporate

Bonds

(cost

$69,790,560)

65,019,893

Foreign

Government

Securities

1

.5

%

CANADA

0.2%

Province

of

Alberta,

3.30%,

3/15/2028

100,000

96,956

Province

of

New

Brunswick,

3.63%,

2/24/2028

100,000

97,251

18

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Foreign

Government

Securities

Principal

Amount

($)

Value

($)

Province

of

Ontario,

1.13%,

10/7/2030

200,000

166,358

Province

of

Quebec,

3.63%,

4/13/2028

100,000

97,994

7.50%,

9/15/2029

50,000

57,444

516,003

CHILE

0.1%

Republic

of

Chile,

3.10%,

1/22/2061

200,000

126,220

HUNGARY

0.0%

†

Hungary

Government

Bond,

7.63%,

3/29/2041

26,000

29,934

INDONESIA

0.1%

Republic

of

Indonesia,

1.85%,

3/12/2031

200,000

165,768

3.55%,

3/31/2032

200,000

182,250

348,018

ISRAEL

0.1%

State

of

Israel

Government

Bond,

5.38%,

3/12/2029

200,000

199,246

4.50%,

1/17/2033

200,000

183,622

382,868

ITALY

0.1%

Italian

Republic

Government

Bond,

2.88%,

10/17/2029

200,000

181,200

JAPAN

0.1%

Japan

Bank

for

International

Cooperation,

4.25%,

1/26/2026(b)

200,000

198,791

MEXICO

0.2%

United

Mexican

States,

3.75%,

1/11/2028

200,000

191,585

2.66%,

5/24/2031(b)

200,000

167,950

5.00%,

4/27/2051

300,000

244,617

5.75%,

10/12/2110

50,000

41,722

645,874

PANAMA

0.1%

Republic

of

Panama,

3.16%,

1/23/2030

200,000

171,770

6.70%,

1/26/2036

200,000

199,376

371,146

PERU

0.1%

Republic

of

Peru,

3.00%,

1/15/2034

120,000

99,075

3.30%,

3/11/2041

120,000

90,772

189,847

PHILIPPINES

0.1%

Republic

of

Philippines,

6.38%,

10/23/2034

250,000

277,191

Foreign

Government

Securities

Principal

Amount

($)

Value

($)

POLAND

0.1%

Republic

of

Poland,

4.88%,

10/4/2033

100,000

99,112

5.50%,

3/18/2054

60,000

59,165

158,277

SOUTH

KOREA

0.1%

Export-Import

Bank

of

Korea,

4.50%,

1/11/2029

200,000

200,716

SWEDEN

0.1%

Svensk

Exportkredit

AB,

2.25%,

3/22/2027

200,000

189,769

URUGUAY

0.0%

†

Oriental

Republic

of

Uruguay,

5.10%,

6/18/2050

100,000

95,965

Total

Foreign

Government

Securities

(cost

$4,201,896)

3,911,819

Mortgage-Backed

Securities

25

.5

%

FHLMC

Gold

Pool

Pool#

D60780

8.00%,

6/1/2025

55

55

Pool#

G30267

5.00%,

8/1/2025

5,917

5,877

Pool#

J18127

3.00%,

3/1/2027

22,134

21,628

Pool#

J18702

3.00%,

3/1/2027

21,089

20,608

Pool#

J19106

3.00%,

5/1/2027

10,158

9,921

Pool#

C00566

7.50%,

12/1/2027

128

129

Pool#

C18271

7.00%,

11/1/2028

592

613

Pool#

C00678

7.00%,

11/1/2028

125

129

Pool#

C00836

7.00%,

7/1/2029

119

123

Pool#

C31285

7.00%,

9/1/2029

185

192

Pool#

C37436

8.00%,

1/1/2030

402

422

Pool#

C36429

7.00%,

2/1/2030

283

292

Pool#

C36306

7.00%,

2/1/2030

187

194

Pool#

C00921

7.50%,

2/1/2030

284

293

Pool#

G01108

7.00%,

4/1/2030

100

103

Pool#

J32255

3.00%,

7/1/2030

10,980

10,589

Pool#

C41561

8.00%,

8/1/2030

920

926

Pool#

C01051

8.00%,

9/1/2030

470

490

Pool#

C43550

7.00%,

10/1/2030

649

671

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

19

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

Gold

Pool

Pool#

C44017

7.50%,

10/1/2030

213

212

Pool#

C44957

8.00%,

11/1/2030

416

416

Pool#

C01106

7.00%,

12/1/2030

1,948

2,014

Pool#

C01103

7.50%,

12/1/2030

189

196

Pool#

C46932

7.50%,

1/1/2031

316

316

Pool#

C01116

7.50%,

1/1/2031

179

184

Pool#

G01217

7.00%,

3/1/2031

1,905

1,971

Pool#

C48206

7.50%,

3/1/2031

839

835

Pool#

C91366

4.50%,

4/1/2031

28,878

28,778

Pool#

G18605

3.00%,

6/1/2031

4,799

4,617

Pool#

C91377

4.50%,

6/1/2031

15,208

15,157

Pool#

C53324

7.00%,

6/1/2031

775

802

Pool#

C54792

7.00%,

7/1/2031

560

579

Pool#

J35107

2.50%,

8/1/2031

13,630

12,920

Pool#

G01309

7.00%,

8/1/2031

264

273

Pool#

G01311

7.00%,

9/1/2031

1,930

1,997

Pool#

C01222

7.00%,

9/1/2031

296

307

Pool#

G01315

7.00%,

9/1/2031

72

75

Pool#

J35522

2.50%,

10/1/2031

62,248

58,982

Pool#

C58694

7.00%,

10/1/2031

2,176

2,250

Pool#

C60012

7.00%,

11/1/2031

302

313

Pool#

C61298

8.00%,

11/1/2031

1,179

1,180

Pool#

J35957

2.50%,

12/1/2031

118,144

111,935

Pool#

C61105

7.00%,

12/1/2031

2,616

2,705

Pool#

C63171

7.00%,

1/1/2032

1,917

1,983

Pool#

V61548

2.50%,

2/1/2032

133,793

126,546

Pool#

G01391

7.00%,

4/1/2032

3,528

3,676

Pool#

C01345

7.00%,

4/1/2032

1,383

1,430

Pool#

C01370

8.00%,

4/1/2032

333

336

Pool#

G16285

3.50%,

5/1/2032

8,865

8,640

Pool#

C01381

8.00%,

5/1/2032

4,860

5,099

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

Gold

Pool

Pool#

C68290

7.00%,

6/1/2032

1,218

1,260

Pool#

C68300

7.00%,

6/1/2032

421

436

Pool#

G01449

7.00%,

7/1/2032

2,263

2,341

Pool#

C69908

7.00%,

8/1/2032

9,513

9,839

Pool#

C91558

3.50%,

9/1/2032

34,843

33,762

Pool#

G16407

2.50%,

1/1/2033

46,473

43,897

Pool#

G01536

7.00%,

3/1/2033

3,975

4,135

Pool#

G30646

3.00%,

5/1/2033

61,891

58,743

Pool#

G30642

3.00%,

5/1/2033

30,424

28,847

Pool#

K90535

3.00%,

5/1/2033

12,378

11,727

Pool#

A16419

6.50%,

11/1/2033

8,160

8,457

Pool#

A16522

6.50%,

12/1/2033

4,278

4,472

Pool#

A21356

6.50%,

4/1/2034

25,327

26,469

Pool#

C01851

6.50%,

4/1/2034

10,062

10,444

Pool#

A24301

6.50%,

5/1/2034

15,509

16,034

Pool#

A22067

6.50%,

5/1/2034

7,622

7,980

Pool#

A24988

6.50%,

7/1/2034

6,142

6,342

Pool#

G01741

6.50%,

10/1/2034

3,066

3,195

Pool#

G08023

6.50%,

11/1/2034

6,911

7,244

Pool#

G08064

6.50%,

4/1/2035

3,742

4,013

Pool#

G01947

7.00%,

5/1/2035

2,887

2,986

Pool#

A39759

5.50%,

11/1/2035

2,478

2,527

Pool#

A40376

5.50%,

12/1/2035

1,088

1,110

Pool#

A42305

5.50%,

1/1/2036

3,263

3,351

Pool#

A41548

7.00%,

1/1/2036

3,880

4,013

Pool#

G08111

5.50%,

2/1/2036

7,136

7,277

Pool#

A43861

5.50%,

3/1/2036

20,123

20,522

Pool#

G08116

5.50%,

3/1/2036

8,927

9,104

Pool#

A43534

6.50%,

3/1/2036

1,134

1,164

Pool#

A48735

5.50%,

5/1/2036

4,141

4,223

Pool#

G08136

6.50%,

6/1/2036

3,888

4,052

20

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

Gold

Pool

Pool#

A53039

6.50%,

10/1/2036

26,883

27,915

Pool#

C91982

3.50%,

3/1/2038

34,259

32,646

Pool#

G04251

6.50%,

4/1/2038

1,750

1,835

Pool#

G04569

6.50%,

8/1/2038

2,366

2,464

Pool#

A84252

6.50%,

1/1/2039

10,494

10,879

Pool#

A84287

6.50%,

1/1/2039

6,171

6,469

Pool#

G60342

4.50%,

5/1/2042

50,009

49,649

Pool#

G07158

3.50%,

10/1/2042

56,437

52,899

Pool#

Q12051

3.50%,

10/1/2042

51,656

48,419

Pool#

G07163

3.50%,

10/1/2042

47,420

44,448

Pool#

Q11532

3.50%,

10/1/2042

41,388

38,793

Pool#

Q12052

3.50%,

10/1/2042

21,922

20,548

Pool#

C09020

3.50%,

11/1/2042

191,940

179,909

Pool#

G07264

3.50%,

12/1/2042

84,057

78,788

Pool#

Q14292

3.50%,

1/1/2043

23,365

21,900

Pool#

Q14881

3.50%,

1/1/2043

18,432

17,276

Pool#

V80002

2.50%,

4/1/2043

140,620

122,309

Pool#

Q16915

3.00%,

4/1/2043

248,211

225,538

Pool#

Q17675

3.50%,

4/1/2043

110,812

103,864

Pool#

G07410

3.50%,

7/1/2043

42,986

40,291

Pool#

Q20332

3.50%,

7/1/2043

8,437

7,908

Pool#

G07946

4.00%,

7/1/2044

43,066

41,568

Pool#

Q28607

3.50%,

9/1/2044

39,986

37,466

Pool#

G61231

3.50%,

9/1/2044

6,468

6,063

Pool#

G08609

3.50%,

10/1/2044

16,424

15,333

Pool#

Q30833

4.00%,

1/1/2045

3,597

3,451

Pool#

V81873

4.00%,

8/1/2045

7,887

7,566

Pool#

G08669

4.00%,

9/1/2045

41,463

39,776

Pool#

Q38357

4.00%,

1/1/2046

2,844

2,728

Pool#

G61365

4.50%,

1/1/2046

36,093

35,655

Pool#

G08697

3.00%,

3/1/2046

65,618

58,914

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

Gold

Pool

Pool#

Q39440

4.00%,

3/1/2046

2,501

2,400

Pool#

G08704

4.50%,

4/1/2046

6,600

6,520

Pool#

Q40097

4.50%,

4/1/2046

1,214

1,199

Pool#

Q40718

3.50%,

5/1/2046

11,877

11,026

Pool#

G08707

4.00%,

5/1/2046

52,828

50,679

Pool#

G08708

4.50%,

5/1/2046

4,536

4,481

Pool#

Q41548

3.00%,

7/1/2046

13,024

11,700

Pool#

Q41903

3.50%,

7/1/2046

66,033

61,326

Pool#

Q41491

3.50%,

7/1/2046

7,217

6,690

Pool#

Q41935

3.50%,

7/1/2046

5,878

5,457

Pool#

G61791

4.00%,

7/1/2046

7,785

7,488

Pool#

Q41947

4.50%,

7/1/2046

1,580

1,559

Pool#

G08715

3.00%,

8/1/2046

91,078

81,701

Pool#

Q42596

3.50%,

8/1/2046

57,956

53,991

Pool#

Q42203

3.50%,

8/1/2046

10,471

9,741

Pool#

Q42393

3.50%,

8/1/2046

9,180

8,500

Pool#

G61323

3.00%,

9/1/2046

116,601

105,763

Pool#

G08721

3.00%,

9/1/2046

67,452

60,481

Pool#

V82617

3.50%,

9/1/2046

43,474

40,249

Pool#

G08722

3.50%,

9/1/2046

9,389

8,743

Pool#

G60733

4.50%,

9/1/2046

18,423

18,199

Pool#

G60722

3.00%,

10/1/2046

176,747

158,552

Pool#

Q44035

3.00%,

10/1/2046

85,964

77,012

Pool#

G61815

4.00%,

10/1/2046

4,692

4,502

Pool#

G61257

3.00%,

11/1/2046

168,018

150,348

Pool#

Q44452

3.00%,

11/1/2046

38,589

34,566

Pool#

G08732

3.00%,

11/1/2046

10,963

9,806

Pool#

Q44473

3.50%,

11/1/2046

9,047

8,372

Pool#

Q44223

3.50%,

11/1/2046

5,790

5,357

Pool#

G08734

4.00%,

11/1/2046

84,165

80,741

Pool#

G08737

3.00%,

12/1/2046

479,550

429,487

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

21

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

Gold

Pool

Pool#

G60989

3.00%,

12/1/2046

70,096

62,869

Pool#

Q45878

3.00%,

12/1/2046

12,649

11,305

Pool#

G61862

3.50%,

12/1/2046

10,704

9,942

Pool#

G08741

3.00%,

1/1/2047

98,476

88,196

Pool#

G08747

3.00%,

2/1/2047

166,993

149,749

Pool#

G08748

3.50%,

2/1/2047

15,507

14,330

Pool#

Q47484

3.50%,

4/1/2047

17,313

16,084

Pool#

G60988

3.00%,

5/1/2047

392,796

352,364

Pool#

Q48098

3.50%,

5/1/2047

54,917

50,798

Pool#

G61390

3.00%,

6/1/2047

155,513

139,276

Pool#

G61339

3.00%,

8/1/2047

37,001

33,157

Pool#

Q53085

3.00%,

9/1/2047

27,664

24,847

Pool#

G61622

3.00%,

10/1/2047

89,720

80,445

Pool#

G08785

4.00%,

10/1/2047

3,590

3,418

Pool#

Q52075

4.00%,

11/1/2047

60,099

57,821

Pool#

T65458

3.50%,

2/1/2048

63,269

57,173

Pool#

G08800

3.50%,

2/1/2048

8,183

7,571

Pool#

G08801

4.00%,

2/1/2048

23,476

22,521

Pool#

Q54727

3.50%,

3/1/2048

22,276

20,610

Pool#

Q55401

5.00%,

4/1/2048

5,189

5,218

Pool#

G08817

4.00%,

6/1/2048

4,994

4,780

Pool#

G08827

4.50%,

7/1/2048

38,195

37,403

Pool#

Q57401

4.50%,

7/1/2048

12,152

11,924

Pool#

Q57402

4.50%,

7/1/2048

4,192

4,138

Pool#

G08831

4.00%,

8/1/2048

40,921

39,247

Pool#

G67716

4.50%,

10/1/2048

47,224

46,387

Pool#

G61846

4.00%,

1/1/2049

71

68

Pool#

V85279

3.50%,

4/1/2049

17,188

15,902

FHLMC

Non

Gold

Pool

Pool#

1B8478

6.97%,

7/1/2041(a)

9,494

9,714

Pool#

2B0108

6.15%,

1/1/2042(a)

78

78

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

UMBS

Pool

Pool#

SB0383

2.50%,

4/1/2032

259,814

246,216

Pool#

SB8500

2.50%,

7/1/2035

197,211

182,305

Pool#

SB0479

2.50%,

10/1/2035

46,197

42,803

Pool#

RC1826

2.00%,

2/1/2036

209,139

188,670

Pool#

SB8092

1.50%,

3/1/2036

50,144

44,036

Pool#

RC1887

2.00%,

3/1/2036

320,992

289,577

Pool#

RC2045

2.00%,

6/1/2036

16,540

14,921

Pool#

QN8913

2.00%,

12/1/2036

57,217

51,615

Pool#

RC2402

2.00%,

1/1/2037

75,076

67,656

Pool#

RC2399

2.00%,

1/1/2037

55,835

50,521

Pool#

SB8140

1.50%,

2/1/2037

138,203

120,752

Pool#

SB8144

1.50%,

3/1/2037

159,843

139,595

Pool#

QN9700

1.50%,

3/1/2037

30,406

26,547

Pool#

SB8148

2.00%,

4/1/2037

60,292

54,049

Pool#

SB8158

2.00%,

6/1/2037

61,675

55,288

Pool#

SB0725

4.00%,

8/1/2037

3,244

3,185

Pool#

SB1009

4.00%,

2/1/2038

3,592

3,517

Pool#

ZM2339

3.50%,

1/1/2047

51,666

47,782

Pool#

RA3022

2.50%,

6/1/2050

192,762

163,726

Pool#

SD7521

2.50%,

7/1/2050

492,960

424,100

Pool#

SD8074

3.00%,

7/1/2050

34,483

30,652

Pool#

SD7523

2.50%,

8/1/2050

233,488

199,478

Pool#

SD1143

4.50%,

9/1/2050

83,269

81,213

Pool#

SD0514

2.00%,

10/1/2050

193,011

157,522

Pool#

RA3723

2.00%,

10/1/2050

105,343

85,829

Pool#

RA3932

2.50%,

11/1/2050

220,908

188,863

Pool#

RA3987

2.50%,

11/1/2050

118,215

100,119

Pool#

RA4351

2.50%,

1/1/2051

265,404

225,424

Pool#

RA4410

2.50%,

1/1/2051

183,782

156,098

Pool#

RA4652

2.00%,

2/1/2051

1,203,154

980,240

Pool#

RA4493

2.00%,

2/1/2051

752,955

610,191

22

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

UMBS

Pool

Pool#

QB9104

2.00%,

2/1/2051

319,236

258,708

Pool#

RA4737

2.00%,

3/1/2051

929,538

755,368

Pool#

RA4718

2.00%,

3/1/2051

537,740

438,110

Pool#

RA4727

2.00%,

3/1/2051

304,421

246,604

Pool#

SD7537

2.00%,

3/1/2051

135,353

110,520

Pool#

SD8140

2.00%,

4/1/2051

1,338,494

1,083,119

Pool#

SD0576

2.50%,

4/1/2051

63,419

53,200

Pool#

SD8145

1.50%,

5/1/2051

856,249

660,891

Pool#

QC2070

2.00%,

5/1/2051

59,434

48,504

Pool#

RA5436

2.00%,

6/1/2051

180,884

146,304

Pool#

RA5398

2.00%,

7/1/2051

222,584

181,647

Pool#

RA6091

2.00%,

10/1/2051

185,837

151,618

Pool#

RA6236

2.00%,

11/1/2051

208,024

169,448

Pool#

SD8182

2.00%,

12/1/2051

844,232

680,487

Pool#

RA6959

2.50%,

3/1/2052

40,202

33,981

Pool#

QE0374

2.50%,

4/1/2052

247,002

208,676

Pool#

RA7154

4.00%,

4/1/2052

44,486

41,754

Pool#

SD8212

2.50%,

5/1/2052

230,340

193,517

Pool#

RA7779

4.50%,

8/1/2052

6,783

6,541

Pool#

RA7933

5.00%,

9/1/2052

65,652

65,206

Pool#

SD7557

4.50%,

12/1/2052

144,896

141,165

Pool#

SD2248

5.00%,

1/1/2053

70,428

69,820

Pool#

QF5629

6.00%,

1/1/2053

16,387

16,819

Pool#

SD2660

5.00%,

4/1/2053

139,331

137,374

Pool#

SD2661

5.50%,

4/1/2053

59,668

59,938

Pool#

SD8324

5.50%,

5/1/2053

141,125

141,385

Pool#

SD2890

5.50%,

5/1/2053

35,427

35,706

Pool#

SD2905

5.50%,

5/1/2053

34,210

34,366

Pool#

SD3148

5.00%,

6/1/2053

143,005

141,770

Pool#

SD3085

5.50%,

6/1/2053

21,492

21,609

Pool#

SD3260

6.00%,

6/1/2053

46,423

47,353

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FHLMC

UMBS

Pool

Pool#

SD3565

4.50%,

8/1/2053

13,359

12,891

Pool#

SD3603

6.00%,

8/1/2053

57,955

59,334

Pool#

RJ0007

6.50%,

10/1/2053

52,207

53,729

Pool#

SD4350

6.50%,

10/1/2053

16,970

17,415

Pool#

SD4340

5.50%,

11/1/2053

325,045

327,334

Pool#

SD4630

6.00%,

12/1/2053

62,174

63,346

Pool#

RJ0530

6.50%,

12/1/2053

119,401

122,687

Pool#

RJ0527

6.50%,

12/1/2053

15,105

15,517

Pool#

RJ0717

6.50%,

1/1/2054

9,622

9,901

Pool#

RJ0841

6.00%,

2/1/2054

66,498

67,775

Pool#

SD4870

6.50%,

2/1/2054

36,471

37,446

Pool#

SD5616

6.00%,

5/1/2054

486,483

494,863

Pool#

RJ1437

6.50%,

5/1/2054

59,616

61,666

FNMA

Pool

Pool#

AC9890

6.67%,

4/1/2040(a)

73,676

74,010

Pool#

AJ1249

6.06%,

9/1/2041(a)

21,972

22,801

Pool#

AL1437

6.07%,

1/1/2042(a)

5,957

6,073

Pool#

AK0714

6.28%,

2/1/2042(a)

1,106

1,127

Pool#

AP1961

7.50%,

8/1/2042(a)

13,717

14,192

Pool#

BF0206

4.00%,

2/1/2047

29,518

27,941

Pool#

BF0200

3.50%,

11/1/2051

170,904

156,767

FNMA

UMBS

Pool

Pool#

AC1374

4.00%,

8/1/2024

161

160

Pool#

AC1529

4.50%,

9/1/2024

64

64

Pool#

AD0244

4.50%,

10/1/2024

159

158

Pool#

AH1361

3.50%,

12/1/2025

8,458

8,301

Pool#

AH1518

3.50%,

12/1/2025

4,221

4,144

Pool#

AE6384

4.00%,

1/1/2026

909

896

Pool#

AP4746

3.00%,

8/1/2027

14,358

13,987

Pool#

AP4640

3.00%,

9/1/2027

12,304

11,903

Pool#

AQ5096

3.00%,

11/1/2027

22,672

22,058

Pool#

AQ4532

3.00%,

11/1/2027

20,983

20,268

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

23

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

AQ3758

3.00%,

11/1/2027

15,467

14,947

Pool#

AB6886

3.00%,

11/1/2027

9,385

9,131

Pool#

AS0487

2.50%,

9/1/2028

53,963

51,968

Pool#

930998

4.50%,

4/1/2029

1,356

1,339

Pool#

MA0243

5.00%,

11/1/2029

4,220

4,232

Pool#

AL8077

3.50%,

12/1/2029

4,701

4,597

Pool#

MA0268

5.00%,

12/1/2029

4,149

4,159

Pool#

AD5655

5.00%,

5/1/2030

10,926

10,921

Pool#

MA0443

5.00%,

5/1/2030

5,368

5,394

Pool#

AB1038

5.00%,

5/1/2030

4,843

4,840

Pool#

AS5420

3.00%,

7/1/2030

24,299

23,399

Pool#

MA0559

5.00%,

9/1/2030

1,937

1,935

Pool#

AZ9234

3.50%,

10/1/2030

4,751

4,615

Pool#

AH1515

4.00%,

12/1/2030

92,491

90,876

Pool#

AD0716

6.50%,

12/1/2030

54,215

55,586

Pool#

MA0641

4.00%,

2/1/2031

86,803

85,287

Pool#

560868

7.50%,

2/1/2031

230

228

Pool#

BC5968

2.50%,

4/1/2031

20,730

19,642

Pool#

BC4430

3.00%,

4/1/2031

7,403

7,121

Pool#

AL8566

3.00%,

6/1/2031

24,575

23,614

Pool#

AL8565

3.00%,

6/1/2031

21,793

20,919

Pool#

AS8028

2.50%,

9/1/2031

67,855

64,218

Pool#

607212

7.50%,

10/1/2031

1,670

1,658

Pool#

BM3814

2.50%,

12/1/2031

36,233

34,330

Pool#

AS8609

3.00%,

1/1/2032

32,949

31,556

Pool#

AL9585

3.50%,

1/1/2032

8,029

7,826

Pool#

BM4624

3.00%,

2/1/2032

25,791

24,780

Pool#

AS8767

3.00%,

2/1/2032

25,727

24,654

Pool#

AL9871

3.00%,

2/1/2032

10,591

10,175

Pool#

BM3269

2.50%,

4/1/2032

62,589

59,128

Pool#

BM4088

3.00%,

6/1/2032

22,758

21,866

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

MA1107

3.50%,

7/1/2032

23,196

22,448

Pool#

BH6610

3.50%,

7/1/2032

7,132

6,939

Pool#

BM1669

3.00%,

8/1/2032

12,997

12,438

Pool#

BM5167

3.50%,

9/1/2032

5,175

5,046

Pool#

BH9391

3.50%,

10/1/2032

6,040

5,880

Pool#

BM3977

3.00%,

12/1/2032

50,417

48,271

Pool#

CA0951

3.00%,

12/1/2032

32,261

30,861

Pool#

FM1661

2.50%,

1/1/2033

128,171

122,276

Pool#

BM4338

2.50%,

1/1/2033

61,017

57,846

Pool#

656559

6.50%,

2/1/2033

8,078

8,323

Pool#

694846

6.50%,

4/1/2033

1,323

1,380

Pool#

AB9402

3.00%,

5/1/2033

82,626

78,366

Pool#

AB9403

3.00%,

5/1/2033

31,315

29,661

Pool#

MA1527

3.00%,

8/1/2033

142,640

135,085

Pool#

750229

6.50%,

10/1/2033

10,015

10,268

Pool#

725228

6.00%,

3/1/2034

187,792

193,284

Pool#

788027

6.50%,

9/1/2034

13,112

13,523

Pool#

FM4900

2.00%,

12/1/2035

49,108

44,365

Pool#

CA8789

2.00%,

2/1/2036

300,153

270,776

Pool#

CA9145

2.00%,

2/1/2036

244,689

220,741

Pool#

FM5571

2.00%,

2/1/2036

133,516

120,617

Pool#

CA9475

2.00%,

3/1/2036

79,429

71,655

Pool#

CB0262

2.00%,

4/1/2036

1,593,809

1,435,434

Pool#

FM8538

2.00%,

8/1/2036

18,064

16,295

Pool#

AL4260

5.50%,

9/1/2036

15,335

15,618

Pool#

MA4441

1.50%,

10/1/2036

37,731

33,041

Pool#

FS0180

2.00%,

12/1/2036

118,647

106,517

Pool#

FS0155

2.00%,

12/1/2036

56,503

50,970

Pool#

BU1381

2.00%,

12/1/2036

37,857

34,129

Pool#

CB2709

2.00%,

1/1/2037

93,970

84,764

Pool#

MA4535

1.50%,

2/1/2037

259,355

226,456

24

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

MA4566

1.50%,

3/1/2037

443,279

387,311

Pool#

MA4581

1.50%,

4/1/2037

68,275

59,654

Pool#

CB3441

2.50%,

4/1/2037

31,067

28,576

Pool#

FS2497

1.50%,

8/1/2037

37,039

32,362

Pool#

MA4726

4.00%,

9/1/2037

5,234

5,124

Pool#

MA4797

4.00%,

11/1/2037

6,320

6,181

Pool#

955194

7.00%,

11/1/2037

48,872

51,202

Pool#

MA5223

4.00%,

11/1/2038

1,798

1,758

Pool#

AB1735

3.50%,

11/1/2040

4,509

4,225

Pool#

AB2067

3.50%,

1/1/2041

128,193

120,132

Pool#

AB2068

3.50%,

1/1/2041

74,718

70,020

Pool#

932888

3.50%,

1/1/2041

52,267

48,980

Pool#

932891

3.50%,

1/1/2041

10,180

9,530

Pool#

AI9920

4.00%,

9/1/2041

4,120

3,954

Pool#

AI9851

4.50%,

9/1/2041

20,734

20,551

Pool#

AJ5431

4.50%,

10/1/2041

46,792

46,263

Pool#

AJ4861

4.00%,

12/1/2041

61,095

58,991

Pool#

AX5316

4.50%,

1/1/2042

6,715

6,659

Pool#

AL2499

4.50%,

1/1/2042

2,128

2,110

Pool#

AW8167

3.50%,

2/1/2042

151,465

141,812

Pool#

AB5185

3.50%,

5/1/2042

123,398

115,522

Pool#

AO3575

4.50%,

5/1/2042

43,018

42,506

Pool#

AP2092

4.50%,

8/1/2042

10,851

10,652

Pool#

AP7489

4.00%,

9/1/2042

199,533

192,666

Pool#

AL2782

4.50%,

9/1/2042

27,086

26,819

Pool#

AL2677

3.50%,

11/1/2042

70,645

66,137

Pool#

MA1273

3.50%,

12/1/2042

87,821

82,215

Pool#

AR8213

3.50%,

4/1/2043

74,982

70,213

Pool#

AB9238

3.00%,

5/1/2043

286,105

259,286

Pool#

AB9237

3.00%,

5/1/2043

228,270

206,824

Pool#

AB9236

3.00%,

5/1/2043

52,670

47,721

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

AB9362

3.50%,

5/1/2043

199,711

186,958

Pool#

AT4145

3.00%,

6/1/2043

111,895

101,382

Pool#

AB9814

3.00%,

7/1/2043

284,004

257,440

Pool#

AS0255

4.50%,

8/1/2043

81,781

80,689

Pool#

AS0516

3.00%,

9/1/2043

108,189

97,869

Pool#

BM4222

3.00%,

1/1/2044

149,081

135,029

Pool#

AW1006

4.00%,

5/1/2044

54,309

52,633

Pool#

AL7767

4.50%,

6/1/2044

3,576

3,475

Pool#

AS3946

4.00%,

12/1/2044

175,908

169,497

Pool#

BM3611

4.00%,

1/1/2045

28,756

27,766

Pool#

BM3804

3.50%,

2/1/2045

15,879

14,866

Pool#

AL9555

4.00%,

2/1/2045

409,302

395,224

Pool#

AL6889

4.50%,

2/1/2045

29,120

28,731

Pool#

BM3931

3.00%,

3/1/2045

32,932

29,861

Pool#

BM3664

3.00%,

5/1/2045

148,443

134,543

Pool#

AS4921

3.50%,

5/1/2045

202,669

188,658

Pool#

BM5562

4.00%,

6/1/2045

47,190

45,551

Pool#

AL7207

4.50%,

8/1/2045

36,915

36,423

Pool#

AS6362

4.50%,

12/1/2045

6,497

6,411

Pool#

AS6474

3.50%,

1/1/2046

58,660

54,759

Pool#

AS6539

3.50%,

1/1/2046

53,473

49,921

Pool#

AL9849

3.50%,

1/1/2046

43,776

40,984

Pool#

AL9781

4.50%,

2/1/2046

56,403

55,734

Pool#

BM4621

3.50%,

3/1/2046

34,856

32,633

Pool#

BC0823

3.50%,

4/1/2046

34,423

31,935

Pool#

AL8833

4.00%,

6/1/2046

60,024

58,171

Pool#

AS7545

3.50%,

7/1/2046

52,930

49,022

Pool#

MA2705

3.00%,

8/1/2046

131,326

117,683

Pool#

BC1489

3.00%,

8/1/2046

18,948

16,991

Pool#

AS7760

4.00%,

8/1/2046

54,199

51,930

Pool#

AS7770

4.50%,

8/1/2046

4,509

4,443

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

25

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

AL8947

3.50%,

9/1/2046

10,916

10,126

Pool#

AL9263

3.00%,

10/1/2046

38,357

34,329

Pool#

BM3932

3.50%,

10/1/2046

45,015

41,761

Pool#

FM1871

4.00%,

10/1/2046

36,991

35,718

Pool#

BC4766

4.50%,

10/1/2046

9,685

9,556

Pool#

AS8154

4.50%,

10/1/2046

2,699

2,661

Pool#

FM1368

3.00%,

11/1/2046

358,975

322,314

Pool#

BC9003

3.00%,

11/1/2046

40,937

36,640

Pool#

BE5067

3.50%,

11/1/2046

119,278

110,814

Pool#

BC9067

3.00%,

12/1/2046

56,830

50,848

Pool#

AS8417

3.50%,

12/1/2046

48,342

44,711

Pool#

AS8650

3.00%,

1/1/2047

280,450

250,793

Pool#

AS8692

3.50%,

1/1/2047

48,748

45,109

Pool#

BD2440

3.50%,

1/1/2047

17,379

16,082

Pool#

BE7115

4.50%,

1/1/2047

2,245

2,204

Pool#

BD5046

3.50%,

2/1/2047

17,179

15,902

Pool#

AS8979

4.50%,

3/1/2047

11,844

11,661

Pool#

BM3707

2.50%,

4/1/2047

37,263

32,185

Pool#

AS9467

4.00%,

4/1/2047

4,758

4,559

Pool#

AS9470

4.50%,

4/1/2047

38,610

37,975

Pool#

BH0304

4.50%,

4/1/2047

2,683

2,636

Pool#

AS9562

3.00%,

5/1/2047

22,721

20,289

Pool#

BM3237

3.50%,

5/1/2047

83,673

77,669

Pool#

AS9577

3.50%,

5/1/2047

65,896

60,283

Pool#

AS9586

4.00%,

5/1/2047

308,093

295,501

Pool#

BM1268

4.00%,

5/1/2047

99,820

95,641

Pool#

AS9794

3.50%,

6/1/2047

61,200

57,093

Pool#

BE3702

4.00%,

6/1/2047

29,170

27,860

Pool#

BM1295

4.50%,

6/1/2047

35,657

35,093

Pool#

BE9624

4.50%,

6/1/2047

16,252

15,868

Pool#

BM3801

3.00%,

7/1/2047

91,165

81,572

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

AS9909

3.50%,

7/1/2047

53,930

49,906

Pool#

BM3556

4.00%,

9/1/2047

18,214

17,568

Pool#

CA0623

4.50%,

10/1/2047

7,291

7,171

Pool#

BM3379

3.00%,

12/1/2047

159,656

143,020

Pool#

BJ1699

4.00%,

12/1/2047

58,616

56,407

Pool#

MA3238

3.50%,

1/1/2048

93,056

85,992

Pool#

MA3277

4.00%,

2/1/2048

66,720

63,927

Pool#

BK1972

4.50%,

3/1/2048

13,831

13,650

Pool#

MA3332

3.50%,

4/1/2048

71,814

66,252

Pool#

CA1531

3.50%,

4/1/2048

21,473

20,054

Pool#

CA1510

3.50%,

4/1/2048

19,606

18,118

Pool#

CA1560

4.50%,

4/1/2048

21,528

21,089

Pool#

CA1898

4.50%,

6/1/2048

42,467

41,646

Pool#

CA1951

4.00%,

7/1/2048

18,999

18,206

Pool#

BK6577

4.50%,

7/1/2048

3,547

3,461

Pool#

CA2376

4.00%,

9/1/2048

28,929

27,709

Pool#

MA3495

4.00%,

10/1/2048

56,060

53,689

Pool#

BM4664

4.50%,

10/1/2048

28,902

28,301

Pool#

FM1001

3.50%,

11/1/2048

10,761

9,944

Pool#

MA3521

4.00%,

11/1/2048

44,083

41,996

Pool#

MA3536

4.00%,

12/1/2048

44,485

42,565

Pool#

BN0340

4.50%,

12/1/2048

60,988

59,590

Pool#

CA2779

4.50%,

12/1/2048

31,960

31,283

Pool#

MA3563

4.00%,

1/1/2049

175,818

168,346

Pool#

BN3944

4.00%,

1/1/2049

17,178

16,448

Pool#

CA3387

4.00%,

4/1/2049

64,805

62,110

Pool#

CA3489

4.00%,

5/1/2049

38,169

36,586

Pool#

MA3665

4.50%,

5/1/2049

56,643

55,244

Pool#

CA3669

4.00%,

6/1/2049

76,857

73,551

Pool#

CA3825

4.00%,

7/1/2049

22,795

21,911

Pool#

FM2887

3.00%,

3/1/2050

85,575

76,071

26

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

FM0077

3.00%,

3/1/2050

41,096

36,515

Pool#

CA5510

3.00%,

4/1/2050

131,157

116,590

Pool#

MA4048

3.00%,

6/1/2050

41,527

36,868

Pool#

MA4077

2.00%,

7/1/2050

87,297

71,079

Pool#

CA6598

2.50%,

8/1/2050

282,105

240,838

Pool#

MA4097

3.00%,

8/1/2050

9,152

8,121

Pool#

BQ4909

2.00%,

9/1/2050

765,617

623,871

Pool#

CA6985

2.00%,

9/1/2050

477,874

389,315

Pool#

FM4222

2.50%,

9/1/2050

549,318

471,435

Pool#

CA7572

2.50%,

10/1/2050

449,217

385,728

Pool#

CA7368

2.50%,

10/1/2050

355,663

302,094

Pool#

CA7369

2.50%,

10/1/2050

253,454

215,278

Pool#

MA4181

1.50%,

11/1/2050

424,577

327,521

Pool#

FM4808

2.50%,

11/1/2050

251,932

213,987

Pool#

MA4210

2.50%,

12/1/2050

64,128

54,469

Pool#

CA8442

2.00%,

1/1/2051

931,241

760,013

Pool#

FM6031

2.00%,

2/1/2051

1,278,642

1,033,381

Pool#

CA8893

2.00%,

2/1/2051

376,846

306,247

Pool#

BQ9747

2.00%,

2/1/2051

323,741

262,390

Pool#

CA8823

2.00%,

2/1/2051

202,526

164,588

Pool#

FM6135

2.00%,

2/1/2051

128,898

105,261

Pool#

FM6554

2.00%,

3/1/2051

501,236

409,321

Pool#

FM7677

2.50%,

3/1/2051

530,027

450,202

Pool#

CB0149

2.00%,

4/1/2051

194,991

158,883

Pool#

CB0400

2.00%,

5/1/2051

79,574

65,389

Pool#

CB0684

2.00%,

6/1/2051

302,675

246,046

Pool#

FM8630

1.50%,

7/1/2051

37,981

29,314

Pool#

CB1110

2.00%,

7/1/2051

82,559

67,245

Pool#

FM8160

2.50%,

7/1/2051

150,942

128,751

Pool#

FM8007

2.50%,

7/1/2051

93,753

79,507

Pool#

FM8011

2.50%,

8/1/2051

300,399

255,650

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

FM8441

2.50%,

8/1/2051

119,499

102,114

Pool#

CB1330

2.50%,

8/1/2051

99,688

84,517

Pool#

MA4399

2.50%,

8/1/2051

81,203

68,481

Pool#

FM8794

2.50%,

9/1/2051

289,808

247,274

Pool#

FM9082

2.00%,

10/1/2051

103,168

84,181

Pool#

CB1871

2.50%,

10/1/2051

362,367

309,185

Pool#

MA4464

1.50%,

11/1/2051

49,711

38,177

Pool#

MA4465

2.00%,

11/1/2051

661,849

534,100

Pool#

FM9450

2.00%,

11/1/2051

103,325

84,175

Pool#

FM9491

2.50%,

11/1/2051

41,197

35,017

Pool#

FM9494

2.50%,

11/1/2051

26,644

22,729

Pool#

FM9543

2.50%,

12/1/2051

428,442

365,473

Pool#

CB2410

2.50%,

12/1/2051

105,638

90,088

Pool#

FM9806

2.50%,

12/1/2051

90,895

77,489

Pool#

MA4512

2.50%,

1/1/2052

780,338

658,882

Pool#

BU8176

2.50%,

1/1/2052

417,398

353,530

Pool#

FS2639

2.50%,

1/1/2052

308,919

262,148

Pool#

BU9929

2.00%,

2/1/2052

238,933

192,315

Pool#

MA4578

2.50%,

4/1/2052

352,051

297,453

Pool#

CB3351

2.50%,

4/1/2052

65,934

55,742

Pool#

MA4653

3.00%,

7/1/2052

172,087

150,409

Pool#

MA4700

4.00%,

8/1/2052

69,279

64,953

Pool#

FS2972

4.50%,

10/1/2052

45,198

43,727

Pool#

MA4805

4.50%,

11/1/2052

57,903

55,793

Pool#

CB5084

5.00%,

11/1/2052

45,690

45,364

Pool#

CB5268

4.50%,

12/1/2052

324,185

312,633

Pool#

FS3416

5.00%,

12/1/2052

88,013

87,386

Pool#

CB5535

5.00%,

1/1/2053

232,732

229,340

Pool#

BW5089

5.00%,

1/1/2053

63,248

62,437

Pool#

CB5642

5.50%,

2/1/2053

76,696

76,936

Pool#

CB5836

5.00%,

3/1/2053

43,906

43,720

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

27

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

FNMA

UMBS

Pool

Pool#

CB5908

5.50%,

3/1/2053

72,420

73,283

Pool#

FS4070

5.50%,

3/1/2053

46,795

47,164

Pool#

CB6004

5.50%,

4/1/2053

303,715

306,861

Pool#

CB6182

5.00%,

5/1/2053

141,451

139,345

Pool#

MA5073

6.00%,

7/1/2053

48,685

49,395

Pool#

FS5424

4.50%,

8/1/2053

40,504

39,089

Pool#

CB6921

6.00%,

8/1/2053

32,443

33,434

Pool#

FS5886

6.00%,

9/1/2053

106,262

108,163

Pool#

CB7115

6.00%,

9/1/2053

49,804

51,104

Pool#

CB7484

6.50%,

11/1/2053

172,322

177,121

Pool#

FS6294

6.50%,

11/1/2053

20,737

21,291

Pool#

FS6529

6.50%,

12/1/2053

139,961

144,544

Pool#

CB7803

6.50%,

1/1/2054

80,020

82,638

Pool#

CB7865

6.50%,

1/1/2054

19,420

19,985

Pool#

CB8024

6.50%,

2/1/2054

122,482

127,426

Pool#

CB8342

6.00%,

4/1/2054

150,528

152,646

FNMA/FHLMC

UMBS,

15

Year,

Single

Family

TBA

1.50%,

8/25/2039

200,000

174,626

2.50%,

8/25/2039

64,000

58,831

3.00%,

8/25/2039

75,000

70,526

3.50%,

8/25/2039

150,000

144,221

4.00%,

8/25/2039

75,000

73,359

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

Conventional

Pool

TBA

6.00%,

8/25/2054

950,000

963,471

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

TBA

3.50%,

8/25/2054

200,000

181,448

4.00%,

8/25/2054

675,000

632,533

4.50%,

8/25/2054

549,000

528,808

5.00%,

8/25/2054

1,101,000

1,084,169

5.50%,

8/25/2054

1,146,000

1,147,755

6.50%,

8/25/2054

725,000

743,474

GNMA

I

Pool

Pool#

457801

7.00%,

8/15/2028

490

493

Pool#

486936

6.50%,

2/15/2029

195

201

Pool#

502969

6.00%,

3/15/2029

861

880

Pool#

487053

7.00%,

3/15/2029

290

291

Pool#

781014

6.00%,

4/15/2029

529

536

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

GNMA

I

Pool

Pool#

509099

7.00%,

6/15/2029

1,322

1,324

Pool#

434505

7.50%,

8/15/2029

23

23

Pool#

781124

7.00%,

12/15/2029

2,034

2,104

Pool#

507396

7.50%,

9/15/2030

15,233

15,254

Pool#

531352

7.50%,

9/15/2030

1,059

1,060

Pool#

536334

7.50%,

10/15/2030

82

82

Pool#

486019

7.50%,

1/15/2031

390

391

Pool#

535388

7.50%,

1/15/2031

265

265

Pool#

528589

6.50%,

3/15/2031

4,674

4,736

Pool#

508473

7.50%,

4/15/2031

1,346

1,349

Pool#

544470

8.00%,

4/15/2031

533

533

Pool#

781287

7.00%,

5/15/2031

957

990

Pool#

781319

7.00%,

7/15/2031

320

338

Pool#

485879

7.00%,

8/15/2031

776

778

Pool#

572554

6.50%,

9/15/2031

14,988

15,503

Pool#

781328

7.00%,

9/15/2031

917

957

Pool#

550991

6.50%,

10/15/2031

255

263

Pool#

571267

7.00%,

10/15/2031

129

129

Pool#

555171

6.50%,

12/15/2031

628

646

Pool#

781380

7.50%,

12/15/2031

311

328

Pool#

781481

7.50%,

1/15/2032

1,362

1,425

Pool#

580972

6.50%,

2/15/2032

82

83

Pool#

781401

7.50%,

2/15/2032

1,037

1,095

Pool#

781916

6.50%,

3/15/2032

9,462

9,715

Pool#

552474

7.00%,

3/15/2032

1,978

2,035

Pool#

781478

7.50%,

3/15/2032

591

622

Pool#

781429

8.00%,

3/15/2032

1,078

1,142

Pool#

781431

7.00%,

4/15/2032

3,889

4,094

Pool#

552616

7.00%,

6/15/2032

15,375

15,678

Pool#

570022

7.00%,

7/15/2032

6,698

6,915

Pool#

595077

6.00%,

10/15/2032

2,013

2,108

28

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

GNMA

I

Pool

Pool#

552903

6.50%,

11/15/2032

25,335

26,208

Pool#

552952

6.00%,

12/15/2032

1,373

1,397

Pool#

602102

6.00%,

2/15/2033

7,797

8,014

Pool#

588192

6.00%,

2/15/2033

1,602

1,637

Pool#

553144

5.50%,

4/15/2033

4,493

4,520

Pool#

604243

6.00%,

4/15/2033

2,706

2,825

Pool#

611526

6.00%,

5/15/2033

4,333

4,425

Pool#

553320

6.00%,

6/15/2033

8,360

8,612

Pool#

604788

6.50%,

11/15/2033

27,421

28,542

Pool#

781688

6.00%,

12/15/2033

10,874

11,204

Pool#

604875

6.00%,

12/15/2033

9,359

9,728

Pool#

781690

6.00%,

12/15/2033

3,888

4,004

Pool#

781699

7.00%,

12/15/2033

1,154

1,172

Pool#

621856

6.00%,

1/15/2034

5,005

5,101

Pool#

564799

6.00%,

3/15/2034

3,702

3,754

Pool#

630038

6.50%,

8/15/2034

17,802

18,452

Pool#

781804

6.00%,

9/15/2034

10,866

11,285

Pool#

781847

6.00%,

12/15/2034

8,230

8,547

Pool#

486921

5.50%,

2/15/2035

2,921

3,004

Pool#

781902

6.00%,

2/15/2035

10,857

11,276

Pool#

649510

5.50%,

10/15/2035

35,190

36,361

Pool#

652207

5.50%,

3/15/2036

24,712

25,322

Pool#

655519

5.00%,

5/15/2036

11,534

11,747

Pool#

652539

5.00%,

5/15/2036

3,958

3,964

Pool#

606308

5.50%,

5/15/2036

4,038

4,153

Pool#

656666

6.00%,

6/15/2036

6,107

6,243

Pool#

657912

6.50%,

8/15/2036

1,924

1,982

Pool#

704630

5.50%,

7/15/2039

9,922

10,168

Pool#

757038

4.00%,

12/15/2040

97,983

94,098

Pool#

757039

4.00%,

12/15/2040

97,656

93,302

Pool#

755656

4.00%,

12/15/2040

33,165

32,013

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

GNMA

I

Pool

Pool#

757044

4.00%,

12/15/2040

30,850

29,688

Pool#

742235

4.00%,

12/15/2040

26,375

25,329

Pool#

755655

4.00%,

12/15/2040

20,674

19,956

Pool#

757043

4.00%,

12/15/2040

14,535

13,959

Pool#

756631

4.00%,

12/15/2040

10,850

10,473

Pool#

755959

4.00%,

1/15/2041

73,108

70,570

Pool#

742244

4.00%,

1/15/2041

60,653

58,248

Pool#

753826

4.00%,

1/15/2041

34,599

33,227

Pool#

690662

4.00%,

1/15/2041

18,651

17,911

Pool#

719486

4.00%,

1/15/2041

6,707

6,408

Pool#

757555

4.00%,

2/15/2041

14,474

13,971

Pool#

757557

4.00%,

2/15/2041

7,221

6,970

Pool#

AD6012

3.50%,

4/15/2043

197,057

185,380

Pool#

AA6307

3.50%,

4/15/2043

58,878

55,301

Pool#

AA6403

3.00%,

5/15/2043

268,919

245,772

Pool#

783781

3.50%,

6/15/2043

63,602

59,571

Pool#

784015

3.00%,

7/15/2043

15,047

13,752

Pool#

784714

3.00%,

1/15/2044

80,911

73,946

GNMA

II

Pool

Pool#

3851

5.50%,

5/20/2036

57,760

59,472

Pool#

4559

5.00%,

10/20/2039

79,289

80,267

Pool#

737727

4.00%,

12/20/2040

325,497

313,394

Pool#

737730

4.00%,

12/20/2040

95,481

91,931

Pool#

4923

4.50%,

1/20/2041

54,529

54,162

Pool#

4978

4.50%,

3/20/2041

7,607

7,555

Pool#

5017

4.50%,

4/20/2041

78,417

77,889

Pool#

5082

4.50%,

6/20/2041

139,626

138,686

Pool#

675523

3.50%,

3/20/2042

126,779

117,096

Pool#

MA0462

3.50%,

10/20/2042

203,134

190,619

Pool#

MA0625

3.50%,

12/20/2042

155,510

145,944

Pool#

MA0698

3.00%,

1/20/2043

131,407

119,563

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

29

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

GNMA

II

Pool

Pool#

AF1001

3.50%,

6/20/2043

103,076

95,325

Pool#

AJ9335

3.50%,

10/20/2044

7,484

6,918

Pool#

MA2754

3.50%,

4/20/2045

74,752

69,828

Pool#

MA2824

2.50%,

5/20/2045

112,859

98,852

Pool#

MA2825

3.00%,

5/20/2045

155,166

141,179

Pool#

MA2891

3.00%,

6/20/2045

407,271

370,410

Pool#

MA2892

3.50%,

6/20/2045

34,059

31,812

Pool#

MA2960

3.00%,

7/20/2045

134,644

122,340

Pool#

MA3172

3.00%,

10/20/2045

47,993

43,591

Pool#

MA3173

3.50%,

10/20/2045

2,930

2,734

Pool#

MA3243

3.00%,

11/20/2045

43,117

39,152

Pool#

MA3244

3.50%,

11/20/2045

55,573

51,864

Pool#

784098

3.00%,

12/20/2045

224,590

203,805

Pool#

784119

3.00%,

2/20/2046

178,564

161,974

Pool#

MA3520

3.00%,

3/20/2046

149,815

135,842

Pool#

MA3521

3.50%,

3/20/2046

126,331

117,847

Pool#

MA3735

3.00%,

6/20/2046

143,512

129,901

Pool#

MA3876

4.50%,

8/20/2046

4,923

4,866

Pool#

MA3939

4.50%,

9/20/2046

2,947

2,870

Pool#

MA4125

2.50%,

12/20/2046

42,410

37,145

Pool#

MA4126

3.00%,

12/20/2046

500,510

452,651

Pool#

MA4194

2.50%,

1/20/2047

107,404

94,072

Pool#

MA4196

3.50%,

1/20/2047

14,457

13,453

Pool#

MA4264

4.50%,

2/20/2047

5,315

5,233

Pool#

MA4321

3.50%,

3/20/2047

185,908

172,934

Pool#

AZ1974

3.50%,

4/20/2047

75,425

70,058

Pool#

MA4384

4.50%,

4/20/2047

4,530

4,441

Pool#

MA4512

4.50%,

6/20/2047

13,083

12,866

Pool#

MA4652

3.50%,

8/20/2047

52,133

48,481

Pool#

MA4836

3.00%,

11/20/2047

80,462

72,516

Pool#

784421

3.50%,

12/20/2047

178,782

166,144

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

GNMA

II

Pool

Pool#

MA4900

3.50%,

12/20/2047

113,404

105,278

Pool#

MA4962

3.50%,

1/20/2048

3,584

3,328

Pool#

784480

3.50%,

4/20/2048

43,221

40,239

Pool#

784481

3.50%,

4/20/2048

8,438

7,834

Pool#

MA5191

3.50%,

5/20/2048

112,319

104,427

Pool#

MA5331

4.50%,

7/20/2048

34,303

33,662

Pool#

MA5465

3.50%,

9/20/2048

13,172

12,222

Pool#

BK2856

4.50%,

12/20/2048

4,214

4,046

Pool#

MA5818

4.50%,

3/20/2049

656,870

644,371

Pool#

MA6092

4.50%,

8/20/2049

20,413

19,922

Pool#

MA6409

3.00%,

1/20/2050

191,029

171,626

Pool#

MA6764

2.00%,

7/20/2050

52,347

43,497

Pool#

BW4732

2.50%,

8/20/2050

329,388

275,294

Pool#

BW6206

2.50%,

8/20/2050

321,106

268,371

Pool#

BW4741

2.50%,

9/20/2050

335,939

280,769

Pool#

MA7051

2.00%,

12/20/2050

328,088

272,240

Pool#

MA7311

2.00%,

4/20/2051

1,469,087

1,217,823

Pool#

MA7472

2.50%,

7/20/2051

576,885

496,373

Pool#

MA7936

2.50%,

3/20/2052

1,157,499

995,963

Pool#

MA8197

2.50%,

8/20/2052

583,806

502,572

Pool#

MA8201

4.50%,

8/20/2052

66,732

64,794

Pool#

MA8491

5.50%,

12/20/2052

111,745

112,499

Pool#

MA8800

5.00%,

4/20/2053

437,963

432,937

Pool#

MA8948

5.50%,

6/20/2053

182,429

183,007

Pool#

786798

5.50%,

7/20/2053

63,825

64,539

Pool#

MA9172

6.00%,

9/20/2053

123,392

125,590

Pool#

MA9242

6.00%,

10/20/2053

190,936

194,337

Pool#

MA9364

6.50%,

12/20/2053

19,426

19,800

Pool#

MA9424

6.00%,

1/20/2054

40,347

40,827

GNMA

TBA

2.00%,

8/15/2054

700,000

580,097

2.50%,

8/15/2054

375,000

322,681

5.00%,

8/15/2054

650,000

642,731

30

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

Mortgage-Backed

Securities

Principal

Amount

($)

Value

($)

GNMA

TBA

5.50%,

8/15/2054

550,000

551,661

6.00%,

8/15/2054

300,000

303,516

6.50%,

8/15/2054

425,000

432,934

Total

Mortgage-Backed

Securities

(cost

$74,022,048)

66,584,303

Municipal

Bonds

0

.8

%

California

0

.2

%

Bay

Area

Toll

Authority,

RB,

Series

S-3,

6.91%,

10/1/2050

25,000

30,017

Los

Angeles

Department

of

Water

&

Power,

RB,

Series

D,

6.57%,

7/1/2045

100,000

113,442

Regents

of

the

University

of

California

Medical

Center,

RB,

Series

N,

3.01%,

5/15/2050

115,000

80,327

State

of

California,

GO,

7.63%,

3/1/2040

100,000

122,418

University

of

California,

RB,

Series

AX,

3.06%,

7/1/2025

50,000

49,137

395,341

Georgia

0

.0

%

†

Municipal

Electric

Authority

of

Georgia,

RB,

Series

A,

6.66%,

4/1/2057

44,000

49,525

Illinois

0

.1

%

Chicago

O'Hare

International

Airport,

RB,

Series

C,

4.57%,

1/1/2054

35,000

32,854

State

of

Illinois,

GO,

5.10%,

6/1/2033

174,118

173,402

206,256

Louisiana

0

.0

%

†

Louisiana

Local

Government

Environmental

Facilities

&

Community

Development

Authority,

RB,

5.20%,

12/1/2039

60,000

61,913

Nebraska

0

.0

%

†

University

of

Nebraska

Facilities

Corp.

(The),

RB,

Series

A,

3.04%,

10/1/2049

55,000

41,082

New

Jersey

0

.1

%

New

Jersey

Economic

Development

Authority,

RB,

7.43%,

2/15/2029

150,000

160,570

New

Jersey

Turnpike

Authority,

RB,

Series

F,

7.41%,

1/1/2040

115,000

137,204

297,774

Municipal

Bonds

Principal

Amount

($)

Value

($)

New

York

0

.1

%

New

York

City

Municipal

Water

Finance

Authority,

RB,

Series

CC,

5.88%,

6/15/2044

25,000

26,183

New

York

City

Transitional

Finance

Authority,

RB,

Series

B-1,

5.57%,

11/1/2038

100,000

103,120

Port

Authority

of

New

York

&

New

Jersey,

RB,

Series

159,

6.04%,

12/1/2029

100,000

107,112

236,415

Ohio

0

.1

%

JobsOhio

Beverage

System,

RB,

Series

B,

4.53%,

1/1/2035

100,000

100,193

Ohio

State

University

(The),

RB,

Series

C,

4.91%,

6/1/2040

100,000

98,603

198,796

Texas

0

.2

%

Dallas

Fort

Worth

International

Airport,

RB,

Series

A,

2.99%,

11/1/2038

50,000

42,545

Dallas

Independent

School

District,

GO,

Series

C,

6.45%,

2/15/2035

150,000

150,523

Grand

Parkway

Transportation

Corp.,

RB,

Series

B,

3.24%,

10/1/2052

25,000

18,866

State

of

Texas,

GO,

Series

A,

5.52%,

4/1/2039

50,000

52,359

Texas

Department

of

Transportation

State

Highway

Fund,

RB,

5.18%,

4/1/2030

100,000

101,294

Texas

Natural

Gas

Securitization

Finance

Corp.

Series

A-1,

5.10%,

4/1/2035

14,551

14,781

Series

A-2,

5.17%,

4/1/2041

15,000

15,382

395,750

Wisconsin

0

.0

%

†

State

of

Wisconsin,

RB,

Series

C,

3.15%,

5/1/2027

20,000

19,409

Total

Municipal

Bonds

(cost

$1,997,702)

1,902,261

Supranational

1

.0

%

African

Development

Bank,

4.38%,

3/14/2028

200,000

201,621

Asian

Development

Bank

2.50%,

11/2/2027

250,000

237,487

2.75%,

1/19/2028

200,000

191,226

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

31

Supranational

Principal

Amount

($)

Value

($)

4.50%,

8/25/2028

210,000

213,308

3.13%,

9/26/2028

75,000

72,359

Asian

Infrastructure

Investment

Bank

(The),

4.00%,

1/18/2028

100,000

99,519

European

Bank

for

Reconstruction

&

Development,

4.13%,

1/25/2029

150,000

150,399

European

Investment

Bank

0.38%,

3/26/2026(b)

100,000

93,595

3.63%,

7/15/2030

80,000

78,448

3.75%,

2/14/2033(b)

200,000

194,454

4.13%,

2/13/2034(b)

100,000

99,829

Inter-American

Development

Bank

4.00%,

1/12/2028

300,000

298,773

1.13%,

1/13/2031

50,000

41,743

3.50%,

4/12/2033

200,000

190,304

International

Bank

for

Reconstruction

&

Development

4.63%,

8/1/2028

260,000

265,347

1.75%,

10/23/2029

250,000

223,905

Total

Supranational

(cost

$2,721,120)

2,652,317

U.S.

Government

Agency

Securities

0

.7

%

FHLB,

5.50%,

7/15/2036

200,000

223,133

FHLMC

0.38%,

7/21/2025

65,000

62,294

6.75%,

3/15/2031

200,000

230,627

6.25%,

7/15/2032(b)

165,000

188,840

FNMA

0.50%,

6/17/2025

500,000

481,646

6.25%,

5/15/2029

100,000

109,968

7.25%,

5/15/2030(b)

200,000

232,695

0.88%,

8/5/2030

80,000

66,488

Tennessee

Valley

Authority,

4.88%,

1/15/2048

100,000

101,032

Total

U.S.

Government

Agency

Securities

(cost

$1,748,389)

1,696,723

U.S.

Treasury

Obligations

42

.7

%

U.S.

Treasury

Bonds

6.00%,

2/15/2026

(b)

444,500

456,029

5.50%,

8/15/2028

300,000

318,305

5.25%,

11/15/2028

(b)

100,000

105,227

4.50%,

2/15/2036

(b)

400,000

418,688

4.75%,

2/15/2037

(b)

400,000

426,719

4.50%,

5/15/2038

500,000

519,375

4.50%,

8/15/2039

185,000

191,070

4.38%,

11/15/2039

480,000

488,925

1.13%,

5/15/2040

500,000

319,473

4.38%,

5/15/2040

200,000

203,461

3.88%,

8/15/2040

400,000

382,875

1.38%,

11/15/2040

200,000

131,070

4.25%,

11/15/2040

200,000

199,961

U.S.

Treasury

Obligations

Principal

Amount

($)

Value

($)

U.S.

Treasury

Bonds

1.88%,

2/15/2041

500,000

354,453

1.75%,

8/15/2041

500,000

342,598

3.75%,

8/15/2041

150,000

139,840

2.00%,

11/15/2041

250,000

177,764

3.13%,

11/15/2041

300,000

255,539

2.38%,

2/15/2042

100,000

75,332

3.13%,

2/15/2042

80,000

67,828

3.25%,

5/15/2042

300,000

257,461

2.75%,

8/15/2042

500,000

397,285

3.38%,

8/15/2042

300,000

261,633

2.75%,

11/15/2042

250,000

197,754

4.00%,

11/15/2042

200,000

190,156

3.13%,

2/15/2043

650,000

542,979

3.88%,

2/15/2043

800,000

745,719

2.88%,

5/15/2043

700,000

560,820

3.88%,

5/15/2043

400,000

372,250

3.63%,

8/15/2043

500,000

447,715

4.38%,

8/15/2043

200,000

199,023

3.75%,

11/15/2043

250,000

227,578

4.75%,

11/15/2043

200,000

208,875

3.63%,

2/15/2044

300,000

267,949

4.50%,

2/15/2044

100,000

101,000

4.63%,

5/15/2044

(b)

150,000

154,055

3.13%,

8/15/2044

400,000

329,750

3.00%,

11/15/2044

350,000

282,146

3.00%,

5/15/2045

400,000

321,281

2.50%,

2/15/2046

400,000

291,469

2.50%,

5/15/2046

400,000

290,719

2.25%,

8/15/2046

300,000

206,906

2.88%,

11/15/2046

275,000

213,275

3.00%,

2/15/2047

400,000

316,578

3.00%,

5/15/2047

400,000

316,031

2.75%,

8/15/2047

350,000

263,402

3.00%,

2/15/2048

500,000

392,734

3.00%,

8/15/2048

350,000

274,162

3.38%,

11/15/2048

500,000

418,848

2.88%,

5/15/2049

400,000

305,078

2.25%,

8/15/2049

300,000

200,496

2.38%,

11/15/2049

450,000

308,795

2.00%,

2/15/2050

500,000

314,062

1.25%,

5/15/2050

(b)

400,000

205,422

1.38%,

8/15/2050

700,000

370,699

1.63%,

11/15/2050

250,000

141,582

1.88%,

2/15/2051

550,000

332,148

2.38%,

5/15/2051

900,000

612,141

2.00%,

8/15/2051

700,000

434,301

1.88%,

11/15/2051

630,000

378,123

2.25%,

2/15/2052

800,000

527,063

2.88%,

5/15/2052

640,000

484,700

3.00%,

8/15/2052

600,000

466,359

4.00%,

11/15/2052

750,000

705,527

3.63%,

2/15/2053

350,000

307,412

3.63%,

5/15/2053

800,000

703,000

4.13%,

8/15/2053

700,000

673,203

4.75%,

11/15/2053

500,000

533,672

4.25%,

2/15/2054

(b)

600,000

590,063

4.63%,

5/15/2054

750,000

785,391

U.S.

Treasury

Notes

2.88%,

7/31/2025

(b)

750,000

736,588

4.75%,

7/31/2025

1,400,000

1,400,252

2.00%,

8/15/2025

500,000

486,496

0.25%,

8/31/2025

500,000

476,680

32

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

U.S.

Treasury

Obligations

Principal

Amount

($)

Value

($)

U.S.

Treasury

Notes

5.00%,

8/31/2025

1,000,000

1,002,773

3.50%,

9/15/2025

600,000

592,477

0.25%,

9/30/2025

600,000

570,375

4.25%,

10/15/2025

1,000,000

995,820

3.00%,

10/31/2025

800,000

784,531

5.00%,

10/31/2025

1,000,000

1,004,492

2.25%,

11/15/2025

1,500,000

1,456,875

0.38%,

11/30/2025

1,300,000

1,230,379

4.00%,

12/15/2025

900,000

893,707

0.38%,

12/31/2025

1,200,000

1,132,547

3.88%,

1/15/2026

1,500,000

1,486,758

0.38%,

1/31/2026

1,000,000

941,016

2.63%,

1/31/2026

750,000

730,049

1.63%,

2/15/2026

(b)

400,000

383,359

4.00%,

2/15/2026

500,000

496,582

4.63%,

3/15/2026

(b)

400,000

401,281

0.75%,

3/31/2026

(b)

500,000

470,898

3.75%,

4/15/2026

500,000

494,824

4.88%,

4/30/2026

900,000

907,488

4.13%,

6/15/2026

800,000

797,281

0.63%,

7/31/2026

1,000,000

930,859

1.50%,

8/15/2026

400,000

378,609

0.75%,

8/31/2026

1,000,000

930,937

1.38%,

8/31/2026

1,000,000

942,969

4.63%,

9/15/2026

600,000

604,570

1.63%,

9/30/2026

500,000

473,301

4.63%,

10/15/2026

700,000

705,852

1.63%,

10/31/2026

1,000,000

945,039

2.00%,

11/15/2026

400,000

381,125

1.25%,

12/31/2026

700,000

653,953

4.00%,

1/15/2027

500,000

498,066

1.50%,

1/31/2027

800,000

750,281

2.25%,

2/15/2027

400,000

381,984

4.13%,

2/15/2027

500,000

499,687

1.13%,

2/28/2027

200,000

185,430

1.88%,

2/28/2027

700,000

661,637

0.63%,

3/31/2027

500,000

456,445

2.50%,

3/31/2027

600,000

576,164

4.50%,

4/15/2027

400,000

403,875

0.50%,

4/30/2027

300,000

272,215

2.75%,

4/30/2027

450,000

434,285

2.38%,

5/15/2027

500,000

477,402

2.63%,

5/31/2027

700,000

672,793

2.75%,

7/31/2027

300,000

288,902

2.25%,

8/15/2027

500,000

474,180

0.50%,

8/31/2027

500,000

448,906

3.13%,

8/31/2027

700,000

681,187

0.38%,

9/30/2027

500,000

445,957

4.13%,

9/30/2027

700,000

701,832

0.50%,

10/31/2027

500,000

446,602

4.13%,

10/31/2027

(b)

500,000

501,328

2.25%,

11/15/2027

870,000

822,286

0.63%,

11/30/2027

250,000

223,643

3.88%,

11/30/2027

430,000

427,900

0.63%,

12/31/2027

500,000

446,250

3.88%,

12/31/2027

800,000

796,406

0.75%,

1/31/2028

500,000

447,188

3.50%,

1/31/2028

1,300,000

1,278,215

2.75%,

2/15/2028

1,000,000

958,047

1.13%,

2/29/2028

(b)

700,000

633,145

4.00%,

2/29/2028

300,000

299,895

1.25%,

3/31/2028

500,000

453,340

U.S.

Treasury

Obligations

Principal

Amount

($)

Value

($)

U.S.

Treasury

Notes

3.63%,

3/31/2028

600,000

592,383

1.25%,

4/30/2028

700,000

633,473

3.50%,

4/30/2028

1,300,000

1,277,656

2.88%,

5/15/2028

1,000,000

960,430

1.25%,

5/31/2028

700,000

632,352

3.63%,

5/31/2028

350,000

345,516

1.25%,

6/30/2028

700,000

631,094

4.00%,

6/30/2028

750,000

750,381

1.00%,

7/31/2028

1,000,000

890,664

4.13%,

7/31/2028

700,000

703,637

2.88%,

8/15/2028

1,000,000

958,828

4.38%,

8/31/2028

400,000

405,969

1.25%,

9/30/2028

500,000

448,184

4.63%,

9/30/2028

500,000

512,383

1.38%,

10/31/2028

500,000

449,766

4.88%,

10/31/2028

300,000

310,535

1.50%,

11/30/2028

500,000

451,328

3.75%,

12/31/2028

700,000

694,176

1.75%,

1/31/2029

500,000

454,883

4.00%,

1/31/2029

400,000

400,828

2.63%,

2/15/2029

457,000

431,811

2.38%,

3/31/2029

400,000

373,187

4.13%,

3/31/2029

800,000

806,063

2.88%,

4/30/2029

350,000

333,730

4.63%,

4/30/2029

400,000

411,750

2.38%,

5/15/2029

100,000

93,172

2.75%,

5/31/2029

300,000

284,250

4.50%,

5/31/2029

500,000

512,422

3.25%,

6/30/2029

400,000

387,594

4.25%,

6/30/2029

600,000

608,297

2.63%,

7/31/2029

200,000

188,133

4.00%,

7/31/2029

600,000

602,063

1.63%,

8/15/2029

200,000

179,148

3.13%,

8/31/2029

400,000

385,000

3.88%,

9/30/2029

300,000

298,980

4.00%,

10/31/2029

300,000

300,715

1.75%,

11/15/2029

250,000

224,395

3.88%,

11/30/2029

250,000

249,160

3.88%,

12/31/2029

700,000

697,211

3.50%,

1/31/2030

650,000

635,375

1.50%,

2/15/2030

700,000

615,070

4.00%,

2/28/2030

350,000

350,779

3.63%,

3/31/2030

400,000

393,234

3.50%,

4/30/2030

700,000

683,566

0.63%,

5/15/2030

700,000

580,344

3.75%,

5/31/2030

300,000

296,695

3.75%,

6/30/2030

900,000

890,051

4.00%,

7/31/2030

550,000

551,074

0.63%,

8/15/2030

950,000

781,412

4.13%,

8/31/2030

400,000

403,437

4.63%,

9/30/2030

500,000

517,852

4.88%,

10/31/2030

800,000

840,031

0.88%,

11/15/2030

800,000

664,344

4.38%,

11/30/2030

200,000

204,555

3.75%,

12/31/2030

400,000

395,187

1.13%,

2/15/2031

800,000

671,594

4.25%,

2/28/2031

600,000

609,961

4.13%,

3/31/2031

500,000

504,688

4.63%,

4/30/2031

400,000

415,500

1.63%,

5/15/2031

900,000

775,582

4.63%,

5/31/2031

300,000

311,672

4.25%,

6/30/2031

800,000

813,750

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

33

U.S.

Treasury

Obligations

Principal

Amount

($)

Value

($)

U.S.

Treasury

Notes

4.13%,

7/31/2031

500,000

504,922

1.25%,

8/15/2031

500,000

416,934

1.38%,

11/15/2031

800,000

668,812

1.88%,

2/15/2032

800,000

690,125

2.88%,

5/15/2032

1,000,000

924,844

2.75%,

8/15/2032

1,100,000

1,005,125

4.13%,

11/15/2032

750,000

755,742

3.50%,

2/15/2033

1,050,000

1,009,559

3.38%,

5/15/2033

1,000,000

951,172

3.88%,

8/15/2033

900,000

888,187

4.50%,

11/15/2033

900,000

930,937

4.00%,

2/15/2034

700,000

697,047

4.38%,

5/15/2034

1,300,000

1,333,313

Total

U.S.

Treasury

Obligations

(cost

$119,323,362)

111,423,556

Repurchase

Agreements

3

.7

%

CF

Secured,

LLC

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$1,637,835,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$1,670,592.

(f)

1,637,592

1,637,592

HSBC

Securities,

Inc.

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,739,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$5,100,754.

(f)

5,000,000

5,000,000

Repurchase

Agreements

Principal

Amount

($)

Value

($)

Nomura

Securities

International,

Inc.

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,445,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$3,060,000.

(f)

3,000,000

3,000,000

Total

Repurchase

Agreements

(cost

$9,637,592)

9,637,592

Total

Investments

(cost

$288,574,129)

—

102.6%

267,627,803

Liabilities

in

excess

of

other

assets

—

(2.6)%

(

6,693,080

)

NET

ASSETS

—

100.0%

$

260,934,723

†

Amount

rounds

to

less

than

0.1%.

(a)

Variable

or

floating

rate

security,

the

interest

rate

of

which

adjusts

periodically

based

on

changes

in

current

interest

rates

and

prepayments

on

the

underlying

pool

of

assets.  The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$17,149,369,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$9,637,592

and

by

$7,997,717

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.50%,

and

maturity

dates

ranging

from

8/8/2024

–

5/15/2054,

a

total

value

of

$17,635,309.

(c)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$340,859

which

represents

0.13%

of

net

assets.

(d)

Variable

or

floating

rate

security,

linked

to

the

referenced

benchmark.

The

interest

rate

shown

was

the

current

rate

as

of

July

31,

2024.

(e)

Step

Bond.

Coupon

rate

is

set

for

an

initial

period

and

then

increases

to

a

higher

coupon

rate

at

a

specific

date.

The

rate

shown

is

the

rate

as

of

July

31,

2024.

(f)

Security

or

a

portion

of

the

security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$9,637,592.

34

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

ACES

Alternative

Credit

Enhancement

Services

FHLB

Federal

Home

Loan

Bank

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

GNMA

Government

National

Mortgage

Association

ICE

Intercontinental

Exchange

LIBOR

London

Interbank

Offered

Rate

RB

Revenue

Bond

REIT

Real

Estate

Investment

Trust

REMICS

Real

Estate

Mortgage

Investment

Conduits

SOFR

Secured

Overnight

Financing

Rate

TBA

To

Be

Announced;

Security

is

subject

to

delayed

delivery

UMBS

Uniform

Mortgage-Backed

Securities

Currency:

USD

United

States

Dollar

Nationwide

Bond

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

35

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

36

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Bond

Index

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Asset-Backed

Securities

$

–

$

1,105,933

$

–

$

1,105,933

Commercial

Mortgage-Backed

Securities

–

3,693,406

–

3,693,406

Corporate

Bonds

–

65,019,893

–

65,019,893

Foreign

Government

Securities

–

3,911,819

–

3,911,819

Mortgage-Backed

Securities

–

66,584,303

–

66,584,303

Municipal

Bonds

–

1,902,261

–

1,902,261

Repurchase

Agreements

–

9,637,592

–

9,637,592

Supranational

–

2,652,317

–

2,652,317

U.S.

Government

Agency

Securities

–

1,696,723

–

1,696,723

U.S.

Treasury

Obligations

–

111,423,556

–

111,423,556

Total

$

–

$

267,627,803

$

–

$

267,627,803

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

37

Common

Stocks

99

.0

%

Shares

Value

($)

AUSTRALIA

7

.4

%

Banks

2

.1

%

ANZ

Group

Holdings

Ltd.

179,091

3,407,959

Commonwealth

Bank

of

Australia

99,801

8,993,761

National

Australia

Bank

Ltd.

(a)

184,762

4,672,396

Westpac

Banking

Corp.

206,833

4,047,481

21,121,597

Beverages

0

.0

%

†

Treasury

Wine

Estates

Ltd.

(a)

50,622

409,004

Broadline

Retail

0

.3

%

Wesfarmers

Ltd.(a)

67,573

3,255,979

Capital

Markets

0

.3

%

ASX

Ltd.

12,046

511,977

Macquarie

Group

Ltd.(a)

21,664

2,976,933

3,488,910

Chemicals

0

.0

%

†

Orica

Ltd.(a)

29,305

344,264

Commercial

Services

&

Supplies

0

.1

%

Brambles

Ltd.

83,306

850,429

Consumer

Staples

Distribution

&

Retail

0

.3

%

Coles

Group

Ltd.(a)

79,763

945,900

Endeavour

Group

Ltd.

93,046

334,168

Woolworths

Group

Ltd.

73,378

1,655,837

2,935,905

Diversified

REITs

0

.1

%

GPT

Group

(The)

119,780

364,306

Mirvac

Group

235,719

331,160

Stockland

148,142

447,688

1,143,154

Diversified

Telecommunication

Services

0

.1

%

Telstra

Group

Ltd.

245,349

632,299

Electric

Utilities

0

.1

%

Origin

Energy

Ltd.

103,249

708,439

Financial

Services

0

.0

%

†

Washington

H

Soul

Pattinson

&

Co.

Ltd.(a)

14,097

327,366

Gas

Utilities

0

.0

%

†

APA

Group

78,033

403,742

Ground

Transportation

0

.0

%

†

Aurizon

Holdings

Ltd.

114,500

279,692

Health

Care

Equipment

&

Supplies

0

.1

%

Cochlear

Ltd.

3,958

893,385

Health

Care

Providers

&

Services

0

.1

%

Ramsay

Health

Care

Ltd.

10,306

314,893

Sonic

Healthcare

Ltd.

27,888

506,957

821,850

Health

Care

Technology

0

.0

%

†

Pro

Medicus

Ltd.(a)

3,337

313,825

Hotels,

Restaurants

&

Leisure

0

.2

%

Aristocrat

Leisure

Ltd.

34,618

1,228,046

Lottery

Corp.

Ltd.

(The)

138,655

453,118

1,681,164

Industrial

REITs

0

.2

%

Goodman

Group

101,804

2,355,581

Common

Stocks

Shares

Value

($)

AUSTRALIA

Insurance

0

.3

%

Insurance

Australia

Group

Ltd.

137,221

663,971

Medibank

Pvt

Ltd.(a)

155,171

404,198

QBE

Insurance

Group

Ltd.

88,521

1,046,850

Suncorp

Group

Ltd.

76,129

887,515

3,002,534

Interactive

Media

&

Services

0

.1

%

CAR

Group

Ltd.

20,994

481,491

REA

Group

Ltd.

3,275

438,356

SEEK

Ltd.

20,025

288,589

1,208,436

Metals

&

Mining

2

.1

%

BHP

Group

Ltd.

302,385

8,395,490

BlueScope

Steel

Ltd.

25,609

368,521

Fortescue

Ltd.

98,928

1,230,616

Glencore

plc

617,541

3,418,886

Mineral

Resources

Ltd.(a)

10,719

383,617

Northern

Star

Resources

Ltd.

69,617

647,062

Pilbara

Minerals

Ltd.(a)

170,838

329,832

Rio

Tinto

Ltd.

21,685

1,666,341

Rio

Tinto

plc

67,122

4,345,686

South32

Ltd.

276,879

556,036

21,342,087

Office

REITs

0

.0

%

†

Dexus

66,686

307,507

Oil,

Gas

&

Consumable

Fuels

0

.3

%

Ampol

Ltd.

14,253

313,397

Santos

Ltd.(a)

192,418

998,137

Woodside

Energy

Group

Ltd.

114,237

2,070,889

3,382,423

Passenger

Airlines

0

.0

%

†

Qantas

Airways

Ltd.*

43,751

185,686

Professional

Services

0

.1

%

Computershare

Ltd.

32,241

583,065

Retail

REITs

0

.1

%

Scentre

Group

311,986

711,853

Vicinity

Ltd.

217,516

302,504

1,014,357

Software

0

.1

%

WiseTech

Global

Ltd.

10,312

647,399

Trading

Companies

&

Distributors

0

.1

%

Reece

Ltd.

12,296

223,600

Seven

Group

Holdings

Ltd.

11,575

296,661

520,261

Transportation

Infrastructure

0

.2

%

Transurban

Group(a)

186,039

1,583,211

75,743,551

AUSTRIA

0

.2

%

Banks

0

.1

%

Erste

Group

Bank

AG

20,334

1,055,474

Electric

Utilities

0

.0

%

†

Verbund

AG

4,205

336,708

Metals

&

Mining

0

.0

%

†

voestalpine

AG

6,995

178,986

Oil,

Gas

&

Consumable

Fuels

0

.0

%

†

OMV

AG

8,898

372,919

38

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Index

Fund

Common

Stocks

Shares

Value

($)

AUSTRIA

Paper

&

Forest

Products

0

.1

%

Mondi

plc

27,304

534,370

2,478,457

BELGIUM

0

.8

%

Banks

0

.1

%

KBC

Group

NV

14,910

1,152,141

Beverages

0

.3

%

Anheuser-Busch

InBev

SA/

NV

53,509

3,179,847

Chemicals

0

.1

%

Syensqo

SA

4,162

367,833

Umicore

SA(a)

13,029

178,681

546,514

Distributors

0

.0

%

†

D'ieteren

Group

1,204

276,281

Electric

Utilities

0

.0

%

†

Elia

Group

SA/NV(a)

1,562

162,232

Financial

Services

0

.1

%

Groupe

Bruxelles

Lambert

NV

5,360

399,078

Sofina

SA

863

203,807

602,885

Food

Products

0

.0

%

†

Lotus

Bakeries

NV(a)

25

271,657

Industrial

REITs

0

.0

%

†

Warehouses

De

Pauw

CVA

10,847

294,206

Insurance

0

.1

%

Ageas

SA/NV

10,023

477,371

Pharmaceuticals

0

.1

%

UCB

SA(a)

7,473

1,251,120

8,214,254

BRAZIL

0

.0

%

†

Chemicals

0

.0

%

†

Yara

International

ASA

9,859

280,756

BURKINA

FASO

0

.0

%

†

Metals

&

Mining

0

.0

%

†

Endeavour

Mining

plc

10,889

243,571

CHILE

0

.1

%

Metals

&

Mining

0

.1

%

Antofagasta

plc

24,132

623,700

CHINA

0

.4

%

Banks

0

.1

%

BOC

Hong

Kong

Holdings

Ltd.

224,600

652,731

Broadline

Retail

0

.3

%

Prosus

NV

84,403

2,933,919

Food

Products

0

.0

%

†

Wilmar

International

Ltd.

111,358

266,287

Marine

Transportation

0

.0

%

†

SITC

International

Holdings

Co.

Ltd.

88,000

196,743

Real

Estate

Management

&

Development

0

.0

%

†

Wharf

Holdings

Ltd.

(The)

62,644

171,989

4,221,669

Common

Stocks

Shares

Value

($)

DENMARK

3

.7

%

Air

Freight

&

Logistics

0

.2

%

DSV

A/S

10,261

1,882,312

Banks

0

.1

%

Danske

Bank

A/S

40,646

1,243,494

Beverages

0

.1

%

Carlsberg

A/S,

Class

B

5,491

663,931

Biotechnology

0

.1

%

Genmab

A/S*

4,049

1,144,966

Building

Products

0

.0

%

†

ROCKWOOL

A/S,

Class

B

502

222,066

Chemicals

0

.1

%

Novonesis

(Novozymes)

B,

Class

B

22,270

1,418,276

Electric

Utilities

0

.1

%

Orsted

A/S

Reg.

S*(b)

11,521

686,035

Electrical

Equipment

0

.2

%

Vestas

Wind

Systems

A/S*

61,182

1,511,754

Health

Care

Equipment

&

Supplies

0

.1

%

Coloplast

A/S,

Class

B

7,332

952,140

Demant

A/S*

6,336

242,539

1,194,679

Insurance

0

.0

%

†

Tryg

A/S

21,961

481,045

Marine

Transportation

0

.1

%

AP

Moller

-

Maersk

A/S,

Class

A

191

310,194

AP

Moller

-

Maersk

A/S,

Class

B

265

439,207

749,401

Pharmaceuticals

2

.5

%

Novo

Nordisk

A/S,

Class

B

194,575

25,781,862

Textiles,

Apparel

&

Luxury

Goods

0

.1

%

Pandora

A/S

4,781

749,194

37,729,015

FINLAND

1

.0

%

Banks

0

.2

%

Nordea

Bank

Abp

188,119

2,203,083

Communications

Equipment

0

.1

%

Nokia

OYJ

312,648

1,226,282

Consumer

Staples

Distribution

&

Retail

0

.0

%

†

Kesko

OYJ,

Class

B

15,868

286,805

Diversified

Telecommunication

Services

0

.0

%

†

Elisa

OYJ

8,880

413,491

Electric

Utilities

0

.1

%

Fortum

OYJ(a)

27,340

420,143

Insurance

0

.1

%

Sampo

OYJ,

Class

A

26,946

1,180,500

Machinery

0

.2

%

Kone

OYJ,

Class

B

20,099

1,025,891

Metso

Oyj(a)

37,280

378,415

Wartsila

OYJ

Abp

29,221

602,669

2,006,975

Oil,

Gas

&

Consumable

Fuels

0

.1

%

Neste

OYJ(a)

26,474

545,279

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

39

Common

Stocks

Shares

Value

($)

FINLAND

Paper

&

Forest

Products

0

.2

%

Stora

Enso

OYJ,

Class

R(a)

34,712

433,549

UPM-Kymmene

OYJ

31,270

1,032,797

1,466,346

Pharmaceuticals

0

.0

%

†

Orion

OYJ,

Class

B

6,405

294,406

10,043,310

FRANCE

9

.3

%

Aerospace

&

Defense

1

.1

%

Airbus

SE

35,751

5,398,765

Dassault

Aviation

SA

1,160

233,750

Safran

SA

20,590

4,515,068

Thales

SA

5,547

880,102

11,027,685

Automobile

Components

0

.2

%

Cie

Generale

des

Etablissements

Michelin

SCA

40,985

1,622,987

Automobiles

0

.1

%

Renault

SA

11,711

566,848

Banks

0

.6

%

BNP

Paribas

SA

61,501

4,212,484

Credit

Agricole

SA

62,643

949,236

Societe

Generale

SA

42,951

1,111,779

6,273,499

Beverages

0

.2

%

Pernod

Ricard

SA

12,330

1,651,288

Remy

Cointreau

SA

1,288

101,657

1,752,945

Building

Products

0

.2

%

Cie

de

Saint-Gobain

SA

27,142

2,326,355

Capital

Markets

0

.0

%

†

Amundi

SA

Reg.

S(b)

4,031

293,826

Chemicals

0

.7

%

Air

Liquide

SA

34,418

6,272,740

Arkema

SA

3,742

337,745

6,610,485

Construction

&

Engineering

0

.4

%

Bouygues

SA

10,718

369,760

Eiffage

SA

4,480

445,245

Vinci

SA

29,842

3,401,064

4,216,069

Consumer

Staples

Distribution

&

Retail

0

.1

%

Carrefour

SA

33,402

498,194

Diversified

REITs

0

.0

%

†

Covivio

SA

2,567

132,359

Diversified

Telecommunication

Services

0

.1

%

Orange

SA

113,459

1,258,765

Electrical

Equipment

0

.2

%

Legrand

SA

15,619

1,684,483

Entertainment

0

.0

%

†

Bollore

SE

41,474

258,074

Financial

Services

0

.1

%

Edenred

SE

15,177

630,872

Eurazeo

SE

2,876

226,013

856,885

Common

Stocks

Shares

Value

($)

FRANCE

Food

Products

0

.2

%

Danone

SA

38,434

2,500,730

Health

Care

Equipment

&

Supplies

0

.4

%

BioMerieux

2,686

283,714

EssilorLuxottica

SA

17,570

4,011,305

4,295,019

Hotels,

Restaurants

&

Leisure

0

.1

%

Accor

SA

12,139

466,716

La

Francaise

des

Jeux

SAEM

Reg.

S(b)

5,601

217,284

Sodexo

SA

4,988

472,887

1,156,887

Household

Durables

0

.0

%

†

SEB

SA

1,553

155,061

Insurance

0

.4

%

AXA

SA

108,157

3,793,367

IT

Services

0

.2

%

Capgemini

SE

9,251

1,836,004

Life

Sciences

Tools

&

Services

0

.0

%

†

Sartorius

Stedim

Biotech

1,732

342,675

Machinery

0

.0

%

†

Alstom

SA*(a)

19,353

378,425

Media

0

.2

%

Publicis

Groupe

SA

13,433

1,402,019

Vivendi

SE

42,537

453,612

1,855,631

Multi-Utilities

0

.3

%

Engie

SA

107,408

1,688,120

Veolia

Environnement

SA

41,344

1,296,554

2,984,674

Office

REITs

0

.0

%

†

Gecina

SA

2,516

248,672

Oil,

Gas

&

Consumable

Fuels

0

.8

%

TotalEnergies

SE

128,082

8,638,109

Personal

Care

Products

0

.6

%

L'Oreal

SA

14,347

6,212,747

Pharmaceuticals

0

.0

%

†

Ipsen

SA

2,120

238,050

Professional

Services

0

.1

%

Bureau

Veritas

SA

18,453

577,975

Teleperformance

SE

3,323

425,074

1,003,049

Retail

REITs

0

.1

%

Klepierre

SA

12,812

366,715

Unibail-Rodamco-Westfield

7,258

543,588

910,303

Software

0

.1

%

Dassault

Systemes

SE

39,230

1,485,456

Textiles,

Apparel

&

Luxury

Goods

1

.7

%

Hermes

International

SCA

1,886

4,119,675

Kering

SA

4,507

1,385,884

LVMH

Moet

Hennessy

Louis

Vuitton

SE

16,443

11,589,219

17,094,778

Trading

Companies

&

Distributors

0

.0

%

†

Rexel

SA

13,219

335,334

40

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Index

Fund

Common

Stocks

Shares

Value

($)

FRANCE

Transportation

Infrastructure

0

.1

%

Aeroports

de

Paris

SA

2,168

284,363

Getlink

SE

17,522

312,035

596,398

95,440,828

GERMANY

8

.4

%

Aerospace

&

Defense

0

.2

%

MTU

Aero

Engines

AG

3,247

919,363

Rheinmetall

AG

2,596

1,414,965

2,334,328

Air

Freight

&

Logistics

0

.3

%

Deutsche

Post

AG

59,102

2,638,385

Automobile

Components

0

.0

%

†

Continental

AG

6,977

427,900

Automobiles

0

.8

%

Bayerische

Motoren

Werke

AG

18,989

1,762,296

Bayerische

Motoren

Werke

AG

(Preference)

3,575

306,944

Dr

Ing

hc

F

Porsche

AG

(Preference)

Reg.

S(a)(b)

6,924

522,553

Mercedes-Benz

Group

AG

47,781

3,161,009

Porsche

Automobil

Holding

SE

(Preference)

8,587

384,018

Volkswagen

AG

1,768

208,731

Volkswagen

AG

(Preference)

12,047

1,344,519

7,690,070

Banks

0

.1

%

Commerzbank

AG

63,027

1,029,044

Capital

Markets

0

.4

%

Deutsche

Bank

AG

(Registered)

112,832

1,762,226

Deutsche

Boerse

AG

11,329

2,319,397

4,081,623

Chemicals

0

.4

%

BASF

SE

53,137

2,477,942

Covestro

AG

Reg.

S*(b)

10,785

635,457

Evonik

Industries

AG

16,322

331,383

Symrise

AG,

Class

A

7,907

998,748

4,443,530

Construction

Materials

0

.1

%

Heidelberg

Materials

AG

8,067

842,040

Diversified

Telecommunication

Services

0

.5

%

Deutsche

Telekom

AG

(Registered)

193,097

5,046,330

Electrical

Equipment

0

.1

%

Siemens

Energy

AG*

34,901

1,016,152

Entertainment

0

.0

%

†

CTS

Eventim

AG

&

Co.

KGaA

3,625

319,752

Health

Care

Equipment

&

Supplies

0

.1

%

Carl

Zeiss

Meditec

AG

2,229

152,780

Siemens

Healthineers

AG

Reg.

S(b)

16,677

895,347

1,048,127

Health

Care

Providers

&

Services

0

.1

%

Fresenius

Medical

Care

AG

12,198

473,382

Common

Stocks

Shares

Value

($)

GERMANY

Health

Care

Providers

&

Services

Fresenius

SE

&

Co.

KGaA*

25,302

907,891

1,381,273

Household

Products

0

.1

%

Henkel

AG

&

Co.

KGaA

6,394

495,417

Henkel

AG

&

Co.

KGaA

(Preference)

10,040

859,474

1,354,891

Independent

Power

and

Renewable

Electricity

Producers

0

.1

%

RWE

AG

38,372

1,433,295

Industrial

Conglomerates

0

.8

%

Siemens

AG

(Registered)

45,314

8,306,329

Insurance

1

.2

%

Allianz

SE

(Registered)

23,356

6,589,949

Hannover

Rueck

SE

3,582

890,141

Muenchener

Rueckversicherungs-

Gesellschaft

AG

in

Muenchen

(Registered)

8,125

4,002,978

Talanx

AG

3,560

270,635

11,753,703

Interactive

Media

&

Services

0

.0

%

†

Scout24

SE

Reg.

S(b)

4,491

355,790

IT

Services

0

.0

%

†

Bechtle

AG

4,502

199,136

Life

Sciences

Tools

&

Services

0

.1

%

Sartorius

AG

(Preference)

1,664

472,966

Machinery

0

.2

%

Daimler

Truck

Holding

AG

31,555

1,209,624

GEA

Group

AG

9,609

424,450

Knorr-Bremse

AG

4,191

337,838

Rational

AG

326

285,413

2,257,325

Multi-Utilities

0

.2

%

E.ON

SE

135,053

1,894,274

Passenger

Airlines

0

.0

%

†

Deutsche

Lufthansa

AG

(Registered)(a)

37,563

235,518

Personal

Care

Products

0

.1

%

Beiersdorf

AG

5,997

870,760

Pharmaceuticals

0

.3

%

Bayer

AG

(Registered)

59,150

1,758,963

Merck

KGaA

7,855

1,407,195

3,166,158

Real

Estate

Management

&

Development

0

.2

%

LEG

Immobilien

SE

4,166

364,385

Vonovia

SE

44,497

1,367,476

1,731,861

Semiconductors

&

Semiconductor

Equipment

0

.3

%

Infineon

Technologies

AG

77,764

2,695,046

Software

1

.3

%

Nemetschek

SE

3,192

305,023

SAP

SE

62,261

13,136,245

13,441,268

Specialty

Retail

0

.0

%

†

Zalando

SE

Reg.

S*(b)

13,790

353,638

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

41

Common

Stocks

Shares

Value

($)

GERMANY

Textiles,

Apparel

&

Luxury

Goods

0

.3

%

adidas

AG

9,681

2,422,029

Puma

SE(a)

6,541

324,111

2,746,140

Trading

Companies

&

Distributors

0

.1

%

Brenntag

SE

7,563

538,490

86,105,142

HONG

KONG

1

.6

%

Banks

0

.1

%

Hang

Seng

Bank

Ltd.

46,900

577,048

Capital

Markets

0

.2

%

Futu

Holdings

Ltd.,

ADR*

3,665

231,921

Hong

Kong

Exchanges

&

Clearing

Ltd.

70,100

2,067,124

2,299,045

Diversified

Telecommunication

Services

0

.0

%

†

HKT

Trust

&

HKT

Ltd.

225,420

273,623

Electric

Utilities

0

.2

%

CK

Infrastructure

Holdings

Ltd.

34,500

229,390

CLP

Holdings

Ltd.

96,000

828,259

Power

Assets

Holdings

Ltd.

87,300

557,479

1,615,128

Food

Products

0

.0

%

†

WH

Group

Ltd.

Reg.

S(b)

511,243

333,073

Gas

Utilities

0

.1

%

Hong

Kong

&

China

Gas

Co.

Ltd.

628,565

513,328

Ground

Transportation

0

.0

%

†

MTR

Corp.

Ltd.

91,214

296,039

Industrial

Conglomerates

0

.0

%

†

Jardine

Matheson

Holdings

Ltd.

9,000

317,120

Insurance

0

.6

%

AIA

Group

Ltd.

669,200

4,460,106

Prudential

plc

160,829

1,436,022

5,896,128

Machinery

0

.1

%

Techtronic

Industries

Co.

Ltd.

81,500

1,054,263

Real

Estate

Management

&

Development

0

.2

%

CK

Asset

Holdings

Ltd.

121,886

463,806

Henderson

Land

Development

Co.

Ltd.

83,352

232,690

Hongkong

Land

Holdings

Ltd.

66,100

213,246

Sino

Land

Co.

Ltd.(a)

224,200

231,003

Sun

Hung

Kai

Properties

Ltd.

85,700

745,818

Swire

Pacific

Ltd.,

Class

A

24,000

206,867

Swire

Properties

Ltd.

60,600

95,871

Wharf

Real

Estate

Investment

Co.

Ltd.

101,270

249,742

2,439,043

Retail

REITs

0

.1

%

Link

REIT

151,301

635,758

16,249,596

Common

Stocks

Shares

Value

($)

IRELAND

0

.4

%

Banks

0

.1

%

AIB

Group

plc

100,638

575,924

Bank

of

Ireland

Group

plc

63,985

722,825

1,298,749

Building

Products

0

.1

%

Kingspan

Group

plc

9,287

866,862

Food

Products

0

.1

%

Kerry

Group

plc,

Class

A

9,546

892,374

Trading

Companies

&

Distributors

0

.1

%

AerCap

Holdings

NV

12,220

1,148,069

4,206,054

ISRAEL

0

.6

%

Aerospace

&

Defense

0

.0

%

†

Elbit

Systems

Ltd.

1,714

306,360

Banks

0

.2

%

Bank

Hapoalim

BM

71,202

652,797

Bank

Leumi

Le-Israel

BM

86,028

740,724

Israel

Discount

Bank

Ltd.,

Class

A

74,424

379,435

Mizrahi

Tefahot

Bank

Ltd.

8,781

316,613

2,089,569

Broadline

Retail

0

.0

%

†

Global-e

Online

Ltd.*

5,977

205,131

Chemicals

0

.0

%

†

ICL

Group

Ltd.

46,001

192,750

IT

Services

0

.1

%

Wix.com

Ltd.*

3,350

522,349

Pharmaceuticals

0

.1

%

Teva

Pharmaceutical

Industries

Ltd.,

ADR*

67,402

1,174,817

Real

Estate

Management

&

Development

0

.0

%

†

Azrieli

Group

Ltd.

2,496

152,832

Software

0

.2

%

Check

Point

Software

Technologies

Ltd.*

5,530

1,014,478

Nice

Ltd.*

3,771

682,310

1,696,788

6,340,596

ITALY

2

.5

%

Aerospace

&

Defense

0

.1

%

Leonardo

SpA

16,441

391,258

Automobiles

0

.3

%

Ferrari

NV

7,628

3,138,361

Banks

0

.9

%

Banco

BPM

SpA

78,066

540,243

FinecoBank

Banca

Fineco

SpA

37,314

633,815

Intesa

Sanpaolo

SpA

871,080

3,532,237

Mediobanca

Banca

di

Credito

Finanziario

SpA

29,644

480,687

UniCredit

SpA

90,149

3,698,107

8,885,089

Beverages

0

.1

%

Coca-Cola

HBC

AG

13,713

500,214

42

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Index

Fund

Common

Stocks

Shares

Value

($)

ITALY

Beverages

Davide

Campari-Milano

NV(a)

36,082

325,517

825,731

Diversified

Telecommunication

Services

0

.0

%

†

Infrastrutture

Wireless

Italiane

SpA

Reg.

S(b)

21,715

241,488

Telecom

Italia

SpA*(a)

558,474

136,942

378,430

Electric

Utilities

0

.4

%

Enel

SpA(a)

484,149

3,452,704

Terna

-

Rete

Elettrica

Nazionale

84,624

703,989

4,156,693

Electrical

Equipment

0

.1

%

Prysmian

SpA

15,671

1,076,844

Financial

Services

0

.0

%

†

Nexi

SpA

Reg.

S*(b)

33,923

208,199

Gas

Utilities

0

.1

%

Snam

SpA

124,213

593,504

Health

Care

Equipment

&

Supplies

0

.0

%

†

DiaSorin

SpA

1,567

171,120

Health

Care

Providers

&

Services

0

.0

%

†

Amplifon

SpA

7,703

244,162

Insurance

0

.2

%

Generali

61,217

1,584,408

Poste

Italiane

SpA

Reg.

S(b)

26,701

361,276

1,945,684

Oil,

Gas

&

Consumable

Fuels

0

.2

%

Eni

SpA

125,682

2,007,581

Pharmaceuticals

0

.0

%

†

Recordati

Industria

Chimica

e

Farmaceutica

SpA

6,519

355,012

Textiles,

Apparel

&

Luxury

Goods

0

.1

%

Moncler

SpA

13,595

809,938

25,187,606

JAPAN

23

.1

%

Air

Freight

&

Logistics

0

.1

%

Nippon

Express

Holdings,

Inc.(a)

4,050

201,356

SG

Holdings

Co.

Ltd.

19,400

197,278

Yamato

Holdings

Co.

Ltd.

14,900

182,035

580,669

Automobile

Components

0

.4

%

Aisin

Corp.

10,400

354,637

Bridgestone

Corp.

33,400

1,372,121

Denso

Corp.

113,600

1,888,673

Koito

Manufacturing

Co.

Ltd.

10,500

156,703

Sumitomo

Electric

Industries

Ltd.

43,400

663,360

4,435,494

Automobiles

1

.8

%

Honda

Motor

Co.

Ltd.

267,300

2,863,645

Isuzu

Motors

Ltd.

35,900

492,085

Mazda

Motor

Corp.

32,860

297,666

Nissan

Motor

Co.

Ltd.

143,300

461,626

Subaru

Corp.

34,800

686,655

Suzuki

Motor

Corp.

92,000

1,068,915

Common

Stocks

Shares

Value

($)

JAPAN

Automobiles

Toyota

Motor

Corp.

632,300

12,308,052

Yamaha

Motor

Co.

Ltd.(a)

54,700

512,282

18,690,926

Banks

2

.0

%

Chiba

Bank

Ltd.

(The)

33,400

316,772

Concordia

Financial

Group

Ltd.

65,100

411,924

Japan

Post

Bank

Co.

Ltd.

86,300

899,638

Mitsubishi

UFJ

Financial

Group,

Inc.

662,084

7,693,995

Mizuho

Financial

Group,

Inc.

143,651

3,285,311

Resona

Holdings,

Inc.

128,401

931,588

Shizuoka

Financial

Group,

Inc.

24,800

249,708

Sumitomo

Mitsui

Financial

Group,

Inc.

74,505

5,394,392

Sumitomo

Mitsui

Trust

Holdings,

Inc.

39,252

990,152

20,173,480

Beverages

0

.2

%

Asahi

Group

Holdings

Ltd.(a)

28,300

1,045,924

Kirin

Holdings

Co.

Ltd.(a)

47,500

673,971

Suntory

Beverage

&

Food

Ltd.

8,000

289,293

2,009,188

Broadline

Retail

0

.1

%

Pan

Pacific

International

Holdings

Corp.

22,600

588,125

Rakuten

Group,

Inc.*

91,800

535,175

1,123,300

Building

Products

0

.3

%

AGC,

Inc.

12,320

442,239

Daikin

Industries

Ltd.

15,800

2,288,283

TOTO

Ltd.(a)

7,700

215,357

2,945,879

Capital

Markets

0

.3

%

Daiwa

Securities

Group,

Inc.

80,000

664,302

Japan

Exchange

Group,

Inc.

28,500

668,065

Nomura

Holdings,

Inc.

179,900

1,114,808

SBI

Holdings,

Inc.

15,770

411,760

2,858,935

Chemicals

0

.8

%

Asahi

Kasei

Corp.

75,300

545,656

Mitsubishi

Chemical

Group

Corp.

81,500

485,658

Mitsui

Chemicals,

Inc.

10,520

305,961

Nippon

Paint

Holdings

Co.

Ltd.

52,700

336,402

Nippon

Sanso

Holdings

Corp.

11,100

363,804

Nissan

Chemical

Corp.(a)

7,500

241,709

Nitto

Denko

Corp.

8,610

752,340

Shin-Etsu

Chemical

Co.

Ltd.

107,300

4,794,120

Toray

Industries,

Inc.

87,400

458,209

8,283,859

Commercial

Services

&

Supplies

0

.2

%

Dai

Nippon

Printing

Co.

Ltd.

12,750

420,173

Secom

Co.

Ltd.

12,700

814,602

TOPPAN

Holdings,

Inc.

13,900

393,685

1,628,460

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

43

Common

Stocks

Shares

Value

($)

JAPAN

Construction

&

Engineering

0

.1

%

Kajima

Corp.

23,800

463,003

Obayashi

Corp.

40,100

527,558

Taisei

Corp.

10,500

448,361

1,438,922

Consumer

Staples

Distribution

&

Retail

0

.3

%

Aeon

Co.

Ltd.

39,100

894,730

Kobe

Bussan

Co.

Ltd.

9,700

257,375

MatsukiyoCocokara

&

Co.

21,400

349,500

Seven

&

i

Holdings

Co.

Ltd.

133,300

1,602,168

3,103,773

Diversified

REITs

0

.0

%

†

Nomura

Real

Estate

Master

Fund,

Inc.

244

240,180

Diversified

Telecommunication

Services

0

.2

%

Nippon

Telegraph

&

Telephone

Corp.

1,796,100

1,915,860

Electric

Utilities

0

.2

%

Chubu

Electric

Power

Co.,

Inc.

40,400

509,571

Kansai

Electric

Power

Co.,

Inc.

(The)

42,500

728,478

Tokyo

Electric

Power

Co.

Holdings,

Inc.*

95,700

481,521

1,719,570

Electrical

Equipment

0

.3

%

Fuji

Electric

Co.

Ltd.

7,940

446,680

Mitsubishi

Electric

Corp.

115,700

1,942,202

Nidec

Corp.

24,700

1,095,937

3,484,819

Electronic

Equipment,

Instruments

&

Components

1

.1

%

Hamamatsu

Photonics

KK

8,700

250,798

Ibiden

Co.

Ltd.

6,600

254,123

Keyence

Corp.

11,572

5,034,169

Kyocera

Corp.

75,600

957,001

Murata

Manufacturing

Co.

Ltd.

102,900

2,275,722

Omron

Corp.

11,100

409,369

Shimadzu

Corp.

14,900

440,318

TDK

Corp.

23,000

1,601,898

Yokogawa

Electric

Corp.

14,400

363,937

11,587,335

Entertainment

0

.5

%

Capcom

Co.

Ltd.

21,400

454,719

Konami

Group

Corp.

6,300

473,919

Nexon

Co.

Ltd.

19,200

415,653

Nintendo

Co.

Ltd.

61,900

3,438,923

Toho

Co.

Ltd.

6,700

241,501

5,024,715

Financial

Services

0

.2

%

Mitsubishi

HC

Capital,

Inc.

45,400

329,124

ORIX

Corp.

68,700

1,665,399

1,994,523

Food

Products

0

.3

%

Ajinomoto

Co.,

Inc.

27,900

1,152,239

Kikkoman

Corp.

41,500

520,789

MEIJI

Holdings

Co.

Ltd.

13,196

334,790

Nissin

Foods

Holdings

Co.

Ltd.

11,100

331,240

Yakult

Honsha

Co.

Ltd.

15,200

313,084

2,652,142

Common

Stocks

Shares

Value

($)

JAPAN

Gas

Utilities

0

.1

%

Osaka

Gas

Co.

Ltd.

21,080

478,504

Tokyo

Gas

Co.

Ltd.

21,580

474,368

952,872

Ground

Transportation

0

.4

%

Central

Japan

Railway

Co.

45,300

1,071,261

East

Japan

Railway

Co.

54,170

1,020,643

Hankyu

Hanshin

Holdings,

Inc.

12,900

368,753

Keisei

Electric

Railway

Co.

Ltd.

8,100

241,817

Kintetsu

Group

Holdings

Co.

Ltd.

10,150

234,998

Tokyu

Corp.

28,150

341,488

West

Japan

Railway

Co.

27,400

540,639

3,819,599

Health

Care

Equipment

&

Supplies

0

.6

%

Hoya

Corp.

20,900

2,611,791

Olympus

Corp.

69,900

1,200,185

Sysmex

Corp.

30,600

499,796

Terumo

Corp.

78,600

1,403,867

5,715,639

Health

Care

Technology

0

.0

%

†

M3,

Inc.

24,800

231,978

Hotels,

Restaurants

&

Leisure

0

.2

%

McDonald's

Holdings

Co.

Japan

Ltd.(a)

4,724

195,847

Oriental

Land

Co.

Ltd.

65,700

1,867,790

Zensho

Holdings

Co.

Ltd.

5,800

237,345

2,300,982

Household

Durables

0

.9

%

Panasonic

Holdings

Corp.

141,502

1,131,253

Sekisui

Chemical

Co.

Ltd.

21,800

329,136

Sekisui

House

Ltd.(a)

35,700

895,983

Sony

Group

Corp.

74,400

6,619,574

8,975,946

Household

Products

0

.1

%

Unicharm

Corp.

24,300

813,261

Industrial

Conglomerates

0

.6

%

Hikari

Tsushin,

Inc.

1,100

205,696

Hitachi

Ltd.

276,400

5,973,683

6,179,379

Industrial

REITs

0

.0

%

†

Nippon

Prologis

REIT,

Inc.

137

226,367

Insurance

1

.1

%

Dai-ichi

Life

Holdings,

Inc.

54,200

1,665,819

Japan

Post

Holdings

Co.

Ltd.

126,100

1,344,010

Japan

Post

Insurance

Co.

Ltd.

10,800

224,488

MS&AD

Insurance

Group

Holdings,

Inc.

77,565

1,825,671

Sompo

Holdings,

Inc.

52,575

1,199,765

T&D

Holdings,

Inc.

28,100

531,870

Tokio

Marine

Holdings,

Inc.

112,000

4,452,156

11,243,779

Interactive

Media

&

Services

0

.0

%

†

LY

Corp.

150,200

373,484

IT

Services

0

.6

%

Fujitsu

Ltd.

106,300

1,898,335

NEC

Corp.

14,600

1,278,960

44

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Index

Fund

Common

Stocks

Shares

Value

($)

JAPAN

IT

Services

Nomura

Research

Institute

Ltd.

21,754

672,156

NTT

Data

Group

Corp.

38,000

592,471

Obic

Co.

Ltd.

4,000

609,168

Otsuka

Corp.

12,500

276,381

SCSK

Corp.

8,400

166,259

TIS,

Inc.

13,300

287,681

5,781,411

Leisure

Products

0

.1

%

Bandai

Namco

Holdings,

Inc.

35,847

761,663

Shimano,

Inc.

4,600

815,491

1,577,154

Machinery

1

.1

%

Daifuku

Co.

Ltd.

18,800

340,234

FANUC

Corp.

57,500

1,717,787

Hitachi

Construction

Machinery

Co.

Ltd.

5,600

140,293

Hoshizaki

Corp.

5,800

184,551

Komatsu

Ltd.

55,600

1,594,686

Kubota

Corp.

60,400

871,236

Makita

Corp.

12,600

411,748

MINEBEA

MITSUMI,

Inc.

22,300

533,728

Mitsubishi

Heavy

Industries

Ltd.

191,400

2,307,895

SMC

Corp.

3,400

1,661,984

Toyota

Industries

Corp.

8,900

742,455

Yaskawa

Electric

Corp.

13,500

467,329

10,973,926

Marine

Transportation

0

.2

%

Kawasaki

Kisen

Kaisha

Ltd.

23,100

359,751

Mitsui

OSK

Lines

Ltd.

21,000

670,846

Nippon

Yusen

KK

27,520

894,743

1,925,340

Media

0

.0

%

†

Dentsu

Group,

Inc.

11,161

297,808

Metals

&

Mining

0

.2

%

JFE

Holdings,

Inc.

33,700

495,280

Nippon

Steel

Corp.

50,106

1,096,386

Sumitomo

Metal

Mining

Co.

Ltd.

15,500

475,556

2,067,222

Office

REITs

0

.1

%

Japan

Real

Estate

Investment

Corp.

72

249,004

Nippon

Building

Fund,

Inc.

90

347,976

596,980

Oil,

Gas

&

Consumable

Fuels

0

.2

%

ENEOS

Holdings,

Inc.

172,517

909,920

Idemitsu

Kosan

Co.

Ltd.

54,220

361,170

Inpex

Corp.

54,600

846,715

2,117,805

Passenger

Airlines

0

.0

%

†

ANA

Holdings,

Inc.

9,700

186,264

Japan

Airlines

Co.

Ltd.

7,874

129,230

315,494

Personal

Care

Products

0

.2

%

Kao

Corp.(a)

27,400

1,203,698

Shiseido

Co.

Ltd.

24,100

761,963

1,965,661

Common

Stocks

Shares

Value

($)

JAPAN

Pharmaceuticals

1

.3

%

Astellas

Pharma,

Inc.

105,600

1,233,183

Chugai

Pharmaceutical

Co.

Ltd.

40,600

1,776,473

Daiichi

Sankyo

Co.

Ltd.

110,100

4,480,921

Eisai

Co.

Ltd.

15,100

578,517

Kyowa

Kirin

Co.

Ltd.(a)

15,800

334,339

Ono

Pharmaceutical

Co.

Ltd.

20,600

307,652

Otsuka

Holdings

Co.

Ltd.

24,500

1,267,635

Shionogi

&

Co.

Ltd.

15,600

686,342

Takeda

Pharmaceutical

Co.

Ltd.

94,497

2,700,293

13,365,355

Professional

Services

0

.5

%

Recruit

Holdings

Co.

Ltd.

88,400

5,052,384

Real

Estate

Management

&

Development

0

.5

%

Daito

Trust

Construction

Co.

Ltd.

3,500

421,579

Daiwa

House

Industry

Co.

Ltd.

34,400

984,468

Hulic

Co.

Ltd.

23,600

229,399

Mitsubishi

Estate

Co.

Ltd.

67,000

1,138,553

Mitsui

Fudosan

Co.

Ltd.

161,100

1,667,960

Nomura

Real

Estate

Holdings,

Inc.

5,900

165,430

Sumitomo

Realty

&

Development

Co.

Ltd.

17,200

567,634

5,175,023

Semiconductors

&

Semiconductor

Equipment

1

.3

%

Advantest

Corp.

46,100

2,012,944

Disco

Corp.

5,400

1,766,707

Lasertec

Corp.

4,700

833,005

Renesas

Electronics

Corp.

89,100

1,574,230

Rohm

Co.

Ltd.

18,600

252,350

SCREEN

Holdings

Co.

Ltd.

4,800

408,617

SUMCO

Corp.

22,400

366,614

Tokyo

Electron

Ltd.

28,100

5,673,725

12,888,192

Software

0

.0

%

†

Oracle

Corp.

Japan

2,500

205,093

Trend

Micro,

Inc.

7,500

359,575

564,668

Specialty

Retail

0

.4

%

Fast

Retailing

Co.

Ltd.

10,400

2,856,135

Nitori

Holdings

Co.

Ltd.(a)

4,500

537,088

ZOZO,

Inc.(a)

8,800

258,643

3,651,866

Technology

Hardware,

Storage

&

Peripherals

0

.4

%

Brother

Industries

Ltd.

14,200

292,092

Canon,

Inc.

58,600

1,851,196

FUJIFILM

Holdings

Corp.

67,500

1,597,505

Ricoh

Co.

Ltd.

34,300

320,423

Seiko

Epson

Corp.

17,300

304,346

4,365,562

Textiles,

Apparel

&

Luxury

Goods

0

.1

%

Asics

Corp.

37,600

615,080

Tobacco

0

.2

%

Japan

Tobacco,

Inc.(a)

72,000

2,124,275

Trading

Companies

&

Distributors

1

.5

%

ITOCHU

Corp.

70,900

3,640,095

Marubeni

Corp.

84,800

1,605,908

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

45

Common

Stocks

Shares

Value

($)

JAPAN

Trading

Companies

&

Distributors

Mitsubishi

Corp.

199,100

4,136,628

Mitsui

&

Co.

Ltd.

153,200

3,573,643

MonotaRO

Co.

Ltd.

16,800

234,921

Sumitomo

Corp.

60,900

1,531,469

Toyota

Tsusho

Corp.

38,100

763,353

15,486,017

Wireless

Telecommunication

Services

0

.8

%

KDDI

Corp.

89,500

2,689,699

SoftBank

Corp.

169,900

2,232,514

SoftBank

Group

Corp.

61,300

3,758,045

8,680,258

236,312,796

JORDAN

0

.0

%

†

Pharmaceuticals

0

.0

%

†

Hikma

Pharmaceuticals

plc

9,242

225,275

LUXEMBOURG

0

.1

%

Life

Sciences

Tools

&

Services

0

.0

%

†

Eurofins

Scientific

SE

8,542

506,388

Metals

&

Mining

0

.1

%

ArcelorMittal

SA

27,170

613,392

1,119,780

MACAU

0

.1

%

Hotels,

Restaurants

&

Leisure

0

.1

%

Galaxy

Entertainment

Group

Ltd.

132,000

551,253

Sands

China

Ltd.*

135,900

253,152

804,405

NETHERLANDS

4

.5

%

Banks

0

.4

%

ABN

AMRO

Bank

NV,

CVA

Reg.

S(b)

25,375

442,264

ING

Groep

NV(a)

196,729

3,566,866

4,009,130

Beverages

0

.2

%

Heineken

Holding

NV

7,922

583,392

Heineken

NV

17,349

1,539,088

2,122,480

Biotechnology

0

.2

%

Argenx

SE*

3,575

1,834,919

Capital

Markets

0

.0

%

†

Euronext

NV

Reg.

S(b)

4,773

482,231

Chemicals

0

.1

%

Akzo

Nobel

NV

10,185

627,980

OCI

NV

5,709

137,378

765,358

Consumer

Staples

Distribution

&

Retail

0

.2

%

Koninklijke

Ahold

Delhaize

NV

56,738

1,827,549

Diversified

Telecommunication

Services

0

.1

%

Koninklijke

KPN

NV

229,581

903,541

Entertainment

0

.1

%

Universal

Music

Group

NV

49,575

1,179,144

Financial

Services

0

.2

%

Adyen

NV

Reg.

S*(b)

1,317

1,611,941

EXOR

NV

5,919

605,436

2,217,377

Common

Stocks

Shares

Value

($)

NETHERLANDS

Food

Products

0

.0

%

†

JDE

Peet's

NV(a)

6,656

146,160

Health

Care

Equipment

&

Supplies

0

.1

%

Koninklijke

Philips

NV*

47,876

1,349,788

Insurance

0

.2

%

Aegon

Ltd.

85,087

547,890

ASR

Nederland

NV

9,893

495,270

NN

Group

NV

15,874

794,076

1,837,236

Professional

Services

0

.3

%

Randstad

NV

6,205

301,635

Wolters

Kluwer

NV

14,813

2,484,670

2,786,305

Semiconductors

&

Semiconductor

Equipment

2

.4

%

ASM

International

NV

2,640

1,820,561

ASML

Holding

NV

23,825

21,885,685

BE

Semiconductor

Industries

NV

4,721

612,929

24,319,175

Trading

Companies

&

Distributors

0

.0

%

†

IMCD

NV

3,398

488,985

46,269,378

NEW

ZEALAND

0

.3

%

Diversified

Telecommunication

Services

0

.0

%

†

Spark

New

Zealand

Ltd.

103,715

266,761

Electric

Utilities

0

.0

%

†

Mercury

NZ

Ltd.

40,253

164,902

Health

Care

Equipment

&

Supplies

0

.1

%

Fisher

&

Paykel

Healthcare

Corp.

Ltd.

35,427

682,451

Independent

Power

and

Renewable

Electricity

Producers

0

.0

%

†

Meridian

Energy

Ltd.

71,116

275,253

Software

0

.1

%

Xero

Ltd.*(a)

8,619

790,171

Transportation

Infrastructure

0

.1

%

Auckland

International

Airport

Ltd.

79,435

353,914

2,533,452

NORWAY

0

.6

%

Aerospace

&

Defense

0

.1

%

Kongsberg

Gruppen

ASA

5,348

537,068

Banks

0

.1

%

DNB

Bank

ASA

51,823

1,069,984

Diversified

Telecommunication

Services

0

.0

%

†

Telenor

ASA

35,201

419,440

Food

Products

0

.1

%

Mowi

ASA

27,377

461,495

Orkla

ASA

44,182

372,955

Salmar

ASA

4,144

238,523

1,072,973

Insurance

0

.0

%

†

Gjensidige

Forsikring

ASA

11,367

192,199

Metals

&

Mining

0

.1

%

Norsk

Hydro

ASA

81,389

450,263

46

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Index

Fund

Common

Stocks

Shares

Value

($)

NORWAY

Oil,

Gas

&

Consumable

Fuels

0

.2

%

Aker

BP

ASA

19,206

464,315

Equinor

ASA

53,648

1,421,958

1,886,273

5,628,200

POLAND

0

.0

%

†

Air

Freight

&

Logistics

0

.0

%

†

InPost

SA*

11,619

201,458

PORTUGAL

0

.2

%

Consumer

Staples

Distribution

&

Retail

0

.0

%

†

Jeronimo

Martins

SGPS

SA

15,919

277,958

Electric

Utilities

0

.1

%

EDP

SA

185,972

765,600

Oil,

Gas

&

Consumable

Fuels

0

.1

%

Galp

Energia

SGPS

SA

27,418

577,311

1,620,869

SINGAPORE

1

.5

%

Aerospace

&

Defense

0

.0

%

†

Singapore

Technologies

Engineering

Ltd.

103,400

341,584

Banks

0

.7

%

DBS

Group

Holdings

Ltd.

118,625

3,252,603

Oversea-Chinese

Banking

Corp.

Ltd.

202,289

2,252,221

United

Overseas

Bank

Ltd.

76,062

1,837,623

7,342,447

Capital

Markets

0

.0

%

†

Singapore

Exchange

Ltd.

51,300

377,788

Diversified

Telecommunication

Services

0

.1

%

Singapore

Telecommunications

Ltd.

488,003

1,123,708

Entertainment

0

.1

%

Sea

Ltd.,

ADR*

21,320

1,400,724

Ground

Transportation

0

.1

%

Grab

Holdings

Ltd.,

Class

A*

130,536

430,769

Hotels,

Restaurants

&

Leisure

0

.0

%

†

Genting

Singapore

Ltd.

334,017

212,257

Industrial

Conglomerates

0

.1

%

Keppel

Ltd.

89,200

444,016

Industrial

REITs

0

.1

%

CapitaLand

Ascendas

REIT

209,813

428,025

Multi-Utilities

0

.0

%

†

Sembcorp

Industries

Ltd.

55,700

199,504

Passenger

Airlines

0

.1

%

Singapore

Airlines

Ltd.

93,382

486,996

Real

Estate

Management

&

Development

0

.0

%

†

CapitaLand

Investment

Ltd.

162,145

328,035

Retail

REITs

0

.1

%

CapitaLand

Integrated

Commercial

Trust

332,178

518,357

Semiconductors

&

Semiconductor

Equipment

0

.1

%

STMicroelectronics

NV(a)

41,174

1,367,797

15,002,007

Common

Stocks

Shares

Value

($)

SOUTH

AFRICA

0

.2

%

Metals

&

Mining

0

.2

%

Anglo

American

plc

75,692

2,276,592

SOUTH

KOREA

0

.0

%

†

Hotels,

Restaurants

&

Leisure

0

.0

%

†

Delivery

Hero

SE

Reg.

S*(b)

11,916

265,564

SPAIN

2

.5

%

Banks

1

.0

%

Banco

Bilbao

Vizcaya

Argentaria

SA

347,676

3,653,644

Banco

de

Sabadell

SA

316,154

667,782

Banco

Santander

SA

942,413

4,525,907

CaixaBank

SA

220,205

1,282,989

10,130,322

Biotechnology

0

.0

%

†

Grifols

SA*(a)

16,768

168,834

Construction

&

Engineering

0

.1

%

ACS

Actividades

de

Construccion

y

Servicios

SA(a)

12,390

553,362

Diversified

Telecommunication

Services

0

.2

%

Cellnex

Telecom

SA

Reg.

S(b)

30,164

1,049,945

Telefonica

SA(a)

266,478

1,204,797

2,254,742

Electric

Utilities

0

.5

%

Acciona

SA(a)

1,486

192,293

Endesa

SA

17,855

346,149

Iberdrola

SA*(a)

354,389

4,675,438

Redeia

Corp.

SA

23,654

419,150

5,633,030

Hotels,

Restaurants

&

Leisure

0

.2

%

Amadeus

IT

Group

SA

27,075

1,780,206

Independent

Power

and

Renewable

Electricity

Producers

0

.0

%

†

EDP

Renovaveis

SA(a)

19,478

302,532

Oil,

Gas

&

Consumable

Fuels

0

.1

%

Repsol

SA

74,353

1,058,190

Specialty

Retail

0

.3

%

Industria

de

Diseno

Textil

SA

65,993

3,197,775

Transportation

Infrastructure

0

.1

%

Aena

SME

SA

Reg.

S(b)

4,479

848,965

25,927,958

SWEDEN

3

.1

%

Aerospace

&

Defense

0

.0

%

†

Saab

AB,

Class

B

18,688

430,513

Automobiles

0

.0

%

†

Volvo

Car

AB,

Class

B*(a)

45,169

127,671

Banks

0

.3

%

Skandinaviska

Enskilda

Banken

AB,

Class

A

96,320

1,479,275

Svenska

Handelsbanken

AB,

Class

A

87,372

879,637

Swedbank

AB,

Class

A

50,573

1,075,122

3,434,034

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

47

Common

Stocks

Shares

Value

($)

SWEDEN

Biotechnology

0

.0

%

†

Swedish

Orphan

Biovitrum

AB*

11,103

289,515

Building

Products

0

.2

%

Assa

Abloy

AB,

Class

B

60,290

1,831,853

Nibe

Industrier

AB,

Class

B(a)

84,959

372,353

2,204,206

Capital

Markets

0

.1

%

EQT

AB(a)

21,885

707,470

Commercial

Services

&

Supplies

0

.0

%

†

Securitas

AB,

Class

B(a)

27,646

296,658

Communications

Equipment

0

.1

%

Telefonaktiebolaget

LM

Ericsson,

Class

B

164,535

1,126,007

Construction

&

Engineering

0

.0

%

†

Skanska

AB,

Class

B(a)

19,154

373,665

Diversified

Telecommunication

Services

0

.0

%

†

Telia

Co.

AB(a)

143,604

417,166

Electronic

Equipment,

Instruments

&

Components

0

.1

%

Hexagon

AB,

Class

B

121,286

1,233,241

Financial

Services

0

.4

%

Industrivarden

AB,

Class

A(a)

7,317

250,402

Industrivarden

AB,

Class

C(a)

9,396

317,936

Investor

AB,

Class

B

103,090

2,920,824

L

E

Lundbergforetagen

AB,

Class

B(a)

4,237

213,768

3,702,930

Health

Care

Equipment

&

Supplies

0

.0

%

†

Getinge

AB,

Class

B

13,140

256,146

Hotels,

Restaurants

&

Leisure

0

.1

%

Evolution

AB

Reg.

S(a)(b)

11,171

1,078,045

Household

Products

0

.1

%

Essity

AB,

Class

B

36,082

1,014,476

Industrial

Conglomerates

0

.1

%

Investment

AB

Latour,

Class

B(a)

9,563

280,105

Lifco

AB,

Class

B

14,528

430,030

710,135

Machinery

1

.2

%

Alfa

Laval

AB

17,399

767,525

Atlas

Copco

AB,

Class

A

159,948

2,842,563

Atlas

Copco

AB,

Class

B

94,585

1,477,473

Epiroc

AB,

Class

A(a)

39,419

735,448

Epiroc

AB,

Class

B

23,590

395,568

Husqvarna

AB,

Class

B(a)

19,657

132,455

Indutrade

AB

17,026

498,626

Sandvik

AB

64,805

1,324,160

SKF

AB,

Class

B

20,098

372,693

Trelleborg

AB,

Class

B

12,508

463,751

Volvo

AB,

Class

A

12,605

327,103

Volvo

AB,

Class

B

94,565

2,410,213

11,747,578

Metals

&

Mining

0

.1

%

Boliden

AB

16,787

510,118

Common

Stocks

Shares

Value

($)

SWEDEN

Paper

&

Forest

Products

0

.1

%

Holmen

AB,

Class

B(a)

4,248

166,843

Svenska

Cellulosa

AB

SCA,

Class

B(a)

36,125

490,814

657,657

Real

Estate

Management

&

Development

0

.1

%

Fastighets

AB

Balder,

Class

B*(a)

36,650

269,327

Sagax

AB,

Class

B(a)

13,325

327,420

596,747

Specialty

Retail

0

.1

%

H

&

M

Hennes

&

Mauritz

AB,

Class

B(a)

33,355

517,253

Trading

Companies

&

Distributors

0

.0

%

†

Beijer

Ref

AB,

Class

B(a)

23,203

367,244

Wireless

Telecommunication

Services

0

.0

%

†

Tele2

AB,

Class

B(a)

29,361

302,167

32,100,642

SWITZERLAND

6

.2

%

Banks

0

.0

%

†

Banque

Cantonale

Vaudoise

(Registered)

1,680

178,678

Building

Products

0

.1

%

Geberit

AG

(Registered)

2,043

1,299,916

Capital

Markets

0

.8

%

Julius

Baer

Group

Ltd.

12,290

669,421

Partners

Group

Holding

AG

1,364

1,836,799

UBS

Group

AG

(Registered)

196,102

5,947,776

8,453,996

Chemicals

0

.7

%

Clariant

AG

(Registered)

12,084

179,712

DSM-Firmenich

AG

10,909

1,393,830

EMS-Chemie

Holding

AG

(Registered)

394

328,885

Givaudan

SA

(Registered)

551

2,701,676

Sika

AG

(Registered)

9,172

2,784,156

7,388,259

Containers

&

Packaging

0

.1

%

SIG

Group

AG(a)

17,191

360,845

Diversified

Telecommunication

Services

0

.1

%

Swisscom

AG

(Registered)

1,543

945,040

Electric

Utilities

0

.0

%

†

BKW

AG

1,160

209,768

Electrical

Equipment

0

.5

%

ABB

Ltd.

(Registered)

95,320

5,289,794

Food

Products

0

.2

%

Barry

Callebaut

AG

(Registered)(a)

230

370,951

Chocoladefabriken

Lindt

&

Spruengli

AG

59

739,607

Chocoladefabriken

Lindt

&

Spruengli

AG

(Registered)

6

742,110

1,852,668

Health

Care

Equipment

&

Supplies

0

.2

%

Sonova

Holding

AG

(Registered)

2,949

900,277

48

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Index

Fund

Common

Stocks

Shares

Value

($)

SWITZERLAND

Health

Care

Equipment

&

Supplies

Straumann

Holding

AG

(Registered)

6,605

852,509

1,752,786

Insurance

0

.7

%

Baloise

Holding

AG

(Registered)

2,865

513,515

Helvetia

Holding

AG

(Registered)

2,241

334,206

Swiss

Life

Holding

AG

(Registered)

1,796

1,376,715

Zurich

Insurance

Group

AG

8,715

4,792,412

7,016,848

Life

Sciences

Tools

&

Services

0

.3

%

Bachem

Holding

AG(a)

1,817

163,240

Lonza

Group

AG

(Registered)

4,439

2,951,518

3,114,758

Machinery

0

.2

%

Schindler

Holding

AG

2,487

665,282

Schindler

Holding

AG

(Registered)

1,440

377,789

VAT

Group

AG

Reg.

S(b)

1,618

809,784

1,852,855

Marine

Transportation

0

.1

%

Kuehne

+

Nagel

International

AG

(Registered)

2,806

870,324

Pharmaceuticals

1

.4

%

Novartis

AG

(Registered)

117,515

13,173,943

Sandoz

Group

AG

24,537

1,067,061

14,241,004

Professional

Services

0

.1

%

Adecco

Group

AG

(Registered)

10,261

349,563

SGS

SA

(Registered)

8,983

983,640

1,333,203

Real

Estate

Management

&

Development

0

.1

%

Swiss

Prime

Site

AG

(Registered)

4,828

484,050

Software

0

.0

%

†

Temenos

AG

(Registered)

3,885

268,970

Specialty

Retail

0

.0

%

†

Avolta

AG

5,792

218,545

Technology

Hardware,

Storage

&

Peripherals

0

.1

%

Logitech

International

SA

(Registered)

9,244

832,833

Textiles,

Apparel

&

Luxury

Goods

0

.5

%

Cie

Financiere

Richemont

SA

(Registered)

32,012

4,875,908

Swatch

Group

AG

(The)(a)

1,627

334,539

Swatch

Group

AG

(The)

(Registered)

3,109

125,831

5,336,278

63,301,418

UNITED

KINGDOM

11

.0

%

Aerospace

&

Defense

0

.6

%

BAE

Systems

plc

181,150

3,024,011

Melrose

Industries

plc

75,800

572,928

Common

Stocks

Shares

Value

($)

UNITED

KINGDOM

Aerospace

&

Defense

Rolls-Royce

Holdings

plc*

501,545

2,893,223

6,490,162

Banks

1

.8

%

Barclays

plc

899,237

2,688,788

HSBC

Holdings

plc

1,125,768

10,182,974

Lloyds

Banking

Group

plc

3,772,103

2,874,625

NatWest

Group

plc

392,094

1,850,363

Standard

Chartered

plc

133,037

1,307,125

18,903,875

Beverages

0

.5

%

Coca-Cola

Europacific

Partners

plc

12,355

911,429

Diageo

plc

132,489

4,126,399

5,037,828

Broadline

Retail

0

.1

%

Next

plc

7,247

846,595

Capital

Markets

0

.6

%

3i

Group

plc

58,135

2,334,945

Hargreaves

Lansdown

plc

22,234

314,923

London

Stock

Exchange

Group

plc

27,114

3,304,179

Schroders

plc

43,898

222,114

6,176,161

Chemicals

0

.0

%

†

Croda

International

plc

7,849

407,442

Commercial

Services

&

Supplies

0

.1

%

Rentokil

Initial

plc

149,396

910,814

Consumer

Staples

Distribution

&

Retail

0

.2

%

J

Sainsbury

plc

93,420

331,276

Tesco

plc

419,149

1,789,208

2,120,484

Diversified

Consumer

Services

0

.0

%

†

Pearson

plc

36,233

491,034

Diversified

REITs

0

.0

%

†

Land

Securities

Group

plc

43,214

353,785

Diversified

Telecommunication

Services

0

.1

%

BT

Group

plc(a)

390,843

708,598

Electric

Utilities

0

.2

%

SSE

plc

65,849

1,593,869

Electronic

Equipment,

Instruments

&

Components

0

.1

%

Halma

plc

22,741

777,401

Financial

Services

0

.1

%

M&G

plc

136,185

372,279

Wise

plc,

Class

A*

36,980

340,078

712,357

Food

Products

0

.1

%

Associated

British

Foods

plc

19,353

616,826

Health

Care

Equipment

&

Supplies

0

.1

%

Smith

&

Nephew

plc

52,699

760,378

Hotels,

Restaurants

&

Leisure

0

.7

%

Compass

Group

plc

101,435

3,122,178

Entain

plc

40,684

299,430

Flutter

Entertainment

plc*

10,566

2,085,594

InterContinental

Hotels

Group

plc

9,535

960,127

Whitbread

plc

11,124

415,305

6,882,634

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

49

Common

Stocks

Shares

Value

($)

UNITED

KINGDOM

Household

Durables

0

.2

%

Barratt

Developments

plc

59,468

401,458

Berkeley

Group

Holdings

plc

6,657

434,257

Persimmon

plc

18,716

381,108

Taylor

Wimpey

plc

207,845

424,677

1,641,500

Household

Products

0

.2

%

Reckitt

Benckiser

Group

plc

42,086

2,258,828

Industrial

Conglomerates

0

.2

%

CK

Hutchison

Holdings

Ltd.

159,886

841,373

DCC

plc

5,873

404,291

Smiths

Group

plc

20,846

478,103

1,723,767

Industrial

REITs

0

.1

%

Segro

plc

75,919

895,148

Insurance

0

.3

%

Admiral

Group

plc

15,259

539,377

Aviva

plc

162,899

1,049,575

Legal

&

General

Group

plc

351,657

1,047,701

Phoenix

Group

Holdings

plc

42,206

297,386

2,934,039

Interactive

Media

&

Services

0

.1

%

Auto

Trader

Group

plc

Reg.

S(b)

54,252

568,201

Machinery

0

.0

%

†

Spirax

Group

plc

4,489

523,678

Media

0

.1

%

Informa

plc

83,482

934,134

WPP

plc

65,822

636,372

1,570,506

Multi-Utilities

0

.4

%

Centrica

plc

312,799

532,558

National

Grid

plc

286,134

3,637,452

4,170,010

Personal

Care

Products

0

.9

%

Unilever

plc

149,377

9,163,569

Pharmaceuticals

1

.4

%

AstraZeneca

plc

92,431

14,654,528

Professional

Services

0

.6

%

Intertek

Group

plc

9,915

644,488

RELX

plc

111,821

5,275,589

5,920,077

Software

0

.1

%

Sage

Group

plc

(The)

58,257

812,740

Specialty

Retail

0

.1

%

JD

Sports

Fashion

plc

148,404

251,632

Kingfisher

plc

107,082

381,044

632,676

Textiles,

Apparel

&

Luxury

Goods

0

.0

%

†

Burberry

Group

plc

21,202

212,036

Tobacco

0

.5

%

British

American

Tobacco

plc

119,597

4,242,339

Imperial

Brands

plc

48,195

1,330,209

5,572,548

Trading

Companies

&

Distributors

0

.3

%

Ashtead

Group

plc

26,367

1,895,576

Bunzl

plc

20,257

847,765

2,743,341

Common

Stocks

Shares

Value

($)

UNITED

KINGDOM

Water

Utilities

0

.1

%

Severn

Trent

plc

16,174

535,333

United

Utilities

Group

plc

40,931

544,268

1,079,601

Wireless

Telecommunication

Services

0

.1

%

Vodafone

Group

plc

1,399,304

1,305,225

112,172,261

UNITED

STATES

9

.2

%

Automobiles

0

.2

%

Stellantis

NV

132,105

2,199,833

Biotechnology

0

.6

%

CSL

Ltd.

28,813

5,866,457

Construction

&

Engineering

0

.1

%

Ferrovial

SE

31,204

1,239,854

Construction

Materials

0

.4

%

Holcim

AG

31,037

2,904,785

James

Hardie

Industries

plc

CHDI*(a)

26,156

945,841

3,850,626

Electrical

Equipment

0

.8

%

Schneider

Electric

SE

32,447

7,806,610

Energy

Equipment

&

Services

0

.0

%

†

Tenaris

SA

28,411

451,442

Food

Products

1

.6

%

Nestle

SA

(Registered)

159,196

16,160,103

Health

Care

Equipment

&

Supplies

0

.3

%

Alcon,

Inc.

29,766

2,816,022

Insurance

0

.2

%

Swiss

Re

AG

18,040

2,224,395

Life

Sciences

Tools

&

Services

0

.1

%

QIAGEN

NV*

13,608

607,957

Oil,

Gas

&

Consumable

Fuels

1

.9

%

BP

plc

1,003,100

5,915,896

Shell

plc

381,792

13,925,114

19,841,010

Personal

Care

Products

0

.2

%

Haleon

plc

407,853

1,832,052

Pharmaceuticals

2

.5

%

GSK

plc

246,839

4,780,276

Roche

Holding

AG

43,830

14,251,208

Sanofi

SA

67,871

6,979,932

26,011,416

Professional

Services

0

.2

%

Experian

plc

54,771

2,582,449

Software

0

.1

%

CyberArk

Software

Ltd.*

2,527

647,872

Monday.com

Ltd.*

2,132

489,955

1,137,827

94,628,053

Total

Common

Stocks

(cost

$567,882,346)

1,013,498,213

50

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Index

Fund

Repurchase

Agreements

2

.0

%

Principal

Amount

($)

Value

($)    

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,234,546,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$2,279,237.(c)

2,234,214

2,234,214

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,000,296,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$2,040,301.(c)

2,000,000

2,000,000

Nomura

Securities

International,

Inc.,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,445,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$3,060,000.(c)

3,000,000

3,000,000

Santander

US

Capital

Markets,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$8,001,187,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$8,161,210.(c)

8,000,000

8,000,000

Repurchase

Agreements

Principal

Amount

($)

  Value

($)    

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,741,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$5,100,003.(c)

5,000,000

5,000,000

Total

Repurchase

Agreements

(cost

$20,234,214)

20,234,214

Total

Investments

(cost

$588,116,560)

—

101.0%

1,033,732,427

Liabilities

in

excess

of

other

assets

—

(1.0)%

(

10,025,149

)

NET

ASSETS

—

100.0%

$

1,023,707,278

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

51

*

Denotes

a

non-income

producing

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$24,283,925,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$20,234,214

and

by

$5,377,097

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.13%

–

5.41%,

and

maturity

dates

ranging

from

11/15/2024

–

8/15/2053,

a

total

value

of

$25,611,311.

(b)

Rule

144A,

Section

4(2),

or

other

security

which

is

restricted

as

to

sale

to

institutional

investors.

These

securities

were

deemed

liquid

pursuant

to

procedures

approved

by

the

Board

of

Trustees.

The

liquidity

determination

is

unaudited.

The

aggregate

value

of

these

securities

as

of

July

31,

2024

was

$12,260,906

which

represents

1.20%

of

net

assets.

(c)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$20,234,214.

ADR

American

Depositary

Receipt

CHDI

Clearing

House

Electronic

Subregister

System

(CHESS)

Depository

Interest

CVA

Dutch

Certification

Preference

A

special

type

of

equity

investment

that

shares

in

the

earnings

of

the

company,

has

limited

voting

rights,

and

may

have

a

dividend

preference.

Preference

shares

may

also

have

liquidation

preference.

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

REIT

Real

Estate

Investment

Trust

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

EURO

STOXX

50

Index

43

9/2024

EUR

2,279,370

(22,432)

FTSE

100

Index

14

9/2024

GBP

1,504,158

33,718

Nikkei

225

Index

11

9/2024

JPY

1,439,755

(13,280)

SPI

200

Index

6

9/2024

AUD

790,723

11,327

Net

contracts

9,333

As

of

July

31,

2024,

the

Fund

had

$373,507

segregated

in

foreign

currency

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

AUD

Australian

Dollar

EUR

Euro

GBP

British

Pound

JPY

Japanese

Yen

52

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Index

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

53

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

Aerospace

&

Defense

$

–

$

21,858,958

$

–

$

21,858,958

Air

Freight

&

Logistics

–

5,302,824

–

5,302,824

Automobile

Components

–

6,486,381

–

6,486,381

Automobiles

–

32,413,709

–

32,413,709

Banks

–

112,823,468

–

112,823,468

Beverages

911,429

15,089,525

–

16,000,954

Biotechnology

–

9,304,691

–

9,304,691

Broadline

Retail

205,131

8,159,793

–

8,364,924

Building

Products

–

9,865,284

–

9,865,284

Capital

Markets

231,921

28,988,064

–

29,219,985

Chemicals

–

30,681,493

–

30,681,493

Commercial

Services

&

Supplies

–

3,686,361

–

3,686,361

Communications

Equipment

–

2,352,289

–

2,352,289

Construction

&

Engineering

–

7,821,872

–

7,821,872

Construction

Materials

–

4,692,666

–

4,692,666

Consumer

Staples

Distribution

&

Retail

–

11,050,668

–

11,050,668

Containers

&

Packaging

–

360,845

–

360,845

Distributors

–

276,281

–

276,281

Diversified

Consumer

Services

–

491,034

–

491,034

Diversified

REITs

–

1,869,478

–

1,869,478

Diversified

Telecommunication

Services

–

16,957,794

–

16,957,794

Electric

Utilities

–

18,172,117

–

18,172,117

Electrical

Equipment

–

21,870,456

–

21,870,456

Electronic

Equipment,

Instruments

&

Components

–

13,597,977

–

13,597,977

Energy

Equipment

&

Services

–

451,442

–

451,442

Entertainment

1,400,724

6,781,685

–

8,182,409

Financial

Services

–

10,622,522

–

10,622,522

Food

Products

611,478

26,153,515

–

26,764,993

Gas

Utilities

–

2,463,446

–

2,463,446

Ground

Transportation

430,769

4,395,330

–

4,826,099

Health

Care

Equipment

&

Supplies

–

20,935,540

–

20,935,540

Health

Care

Providers

&

Services

–

2,447,285

–

2,447,285

Health

Care

Technology

–

545,803

–

545,803

Hotels,

Restaurants

&

Leisure

–

16,162,144

–

16,162,144

Household

Durables

–

10,772,507

–

10,772,507

Household

Products

–

5,441,456

–

5,441,456

Independent

Power

and

Renewable

Electricity

Producers

–

2,011,080

–

2,011,080

Industrial

Conglomerates

–

17,680,746

–

17,680,746

Industrial

REITs

–

4,199,327

–

4,199,327

Insurance

–

53,978,828

–

53,978,828

Interactive

Media

&

Services

–

2,505,911

–

2,505,911

IT

Services

522,349

7,816,551

–

8,338,900

Leisure

Products

–

1,577,154

–

1,577,154

Life

Sciences

Tools

&

Services

–

5,044,744

–

5,044,744

Machinery

–

30,795,025

–

30,795,025

Marine

Transportation

–

3,741,808

–

3,741,808

Media

–

3,723,945

–

3,723,945

Metals

&

Mining

–

28,305,931

–

28,305,931

Multi-Utilities

–

9,248,462

–

9,248,462

Office

REITs

–

1,153,159

–

1,153,159

Oil,

Gas

&

Consumable

Fuels

–

40,426,900

–

40,426,900

Paper

&

Forest

Products

–

2,658,373

–

2,658,373

Passenger

Airlines

–

1,223,694

–

1,223,694

Personal

Care

Products

–

20,044,789

–

20,044,789

Pharmaceuticals

1,174,817

99,584,186

–

100,759,003

Professional

Services

–

19,260,532

–

19,260,532

Real

Estate

Management

&

Development

–

11,079,580

–

11,079,580

54

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

International

Index

Fund

E

The

following

is

a

reconciliation

of

assets

for

which

Level

3

inputs

were

used

in

determining

fair

value:

The

FVC

continues

to

evaluate

any

information

that

could

cause

an

adjustment

to

the

fair

value

for

these

investments,

such

as

market

news,

the

progress

of

judicial

and

regulatory

proceedings,

and

subadviser

recommendations. 

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

financial

futures

contracts.

(a)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

Level

1

Level

2

Level

3

Total

Assets:

Retail

REITs

–

$

3,078,775

$

–

$

3,078,775

Semiconductors

&

Semiconductor

Equipment

–

41,270,210

–

41,270,210

Software

2,152,305

18,692,982

–

20,845,287

Specialty

Retail

–

8,571,753

–

8,571,753

Technology

Hardware,

Storage

&

Peripherals

–

5,198,395

–

5,198,395

Textiles,

Apparel

&

Luxury

Goods

–

27,563,444

–

27,563,444

Tobacco

–

7,696,823

–

7,696,823

Trading

Companies

&

Distributors

1,148,069

20,479,672

–

21,627,741

Transportation

Infrastructure

–

3,382,488

–

3,382,488

Water

Utilities

–

1,079,601

–

1,079,601

Wireless

Telecommunication

Services

–

10,287,650

–

10,287,650

Total

Common

Stocks

$

8,788,992

$

1,004,709,221

$

–

$

1,013,498,213

Futures

Contracts

45,045

–

–

45,045

Repurchase

Agreements

–

20,234,214

–

20,234,214

Total

Assets

$

8,834,037

$

1,024,943,435

$

–

$

1,033,777,472

Liabilities:

Futures

Contracts

$

(

35,712

)

$

–

$

–

$

(

35,712

)

Total

Liabilities

$

(

35,712

)

$

–

$

–

$

(

35,712

)

Total

$

8,798,325

$

1,024,943,435

$

–

$

1,033,741,760

Common

Stocks

Total

Balance

as

of

10/31/2023

$

94,304

$

94,304

Accrued

Accretion/(Amortization)

—

—

Realized

Gains

(Losses)

—

—

Purchases

—

—

Sales

(

395,529

)

(

395,529

)

Change

in

Unrealized

Appreciation/Depreciation

301,225

301,225

Transfers

into

Level

3

—

—

Transfers

out

of

Level

3

—

—

Balance

as

of

7/31/2024

$

—

$

—

Change

in

Unrealized

Appreciation/Depreciation

for

Investments

Still

Held

as

of

7/31/2024

$

—

$

—

Nationwide

International

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

55

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Assets:

Fair

Value

Futures

Contracts

Equity

risk

Unrealized

appreciation

from

futures

contracts

$

45,045

Total

$

45,045

Liabilities:

Futures

Contracts

Equity

risk

Unrealized

depreciation

from

futures

contracts

$

(

35,712

)

Total

$

(

35,712

)

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

56

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Mid

Cap

Market

Index

Fund

Common

Stocks

100

.0

%

Shares

Value

($)

Aerospace

&

Defense

1

.2

%

BWX

Technologies,

Inc.

19,849

1,974,777

Curtiss-Wright

Corp.

8,378

2,468,997

Hexcel

Corp.

18,085

1,197,408

Woodward,

Inc.

13,258

2,068,115

7,709,297

Air

Freight

&

Logistics

0

.2

%

GXO

Logistics,

Inc.*(a)

26,094

1,460,742

Automobile

Components

1

.1

%

Adient

plc*

19,972

514,479

Autoliv,

Inc.(a)

15,726

1,590,528

Gentex

Corp.

50,308

1,562,566

Goodyear

Tire

&

Rubber

Co.

(The)*

61,876

723,949

Lear

Corp.(a)

12,369

1,509,513

Visteon

Corp.*

5,933

685,499

6,586,534

Automobiles

0

.4

%

Harley-Davidson,

Inc.

27,010

1,012,875

Thor

Industries,

Inc.(a)

11,539

1,224,749

2,237,624

Banks

5

.8

%

Associated

Banc-Corp.

32,702

751,492

Bank

OZK

23,100

1,083,159

Cadence

Bank(a)

40,457

1,329,822

Columbia

Banking

System,

Inc.

45,707

1,195,695

Commerce

Bancshares,

Inc.

(a)

25,644

1,659,423

Cullen/Frost

Bankers,

Inc.

13,919

1,629,358

East

West

Bancorp,

Inc.

30,393

2,671,241

First

Financial

Bankshares,

Inc.(a)

27,819

1,069,919

First

Horizon

Corp.

119,299

1,995,872

FNB

Corp.

79,684

1,222,353

Glacier

Bancorp,

Inc.

24,864

1,111,669

Hancock

Whitney

Corp.

18,881

1,033,357

Home

BancShares,

Inc.

40,858

1,157,507

International

Bancshares

Corp.

11,586

781,360

New

York

Community

Bancorp,

Inc.(a)

56,946

599,072

Old

National

Bancorp

69,210

1,385,584

Pinnacle

Financial

Partners,

Inc.(a)

16,686

1,607,196

Prosperity

Bancshares,

Inc.

20,948

1,519,149

SouthState

Corp.

16,472

1,630,234

Synovus

Financial

Corp.

31,989

1,495,486

Texas

Capital

Bancshares,

Inc.*

10,232

676,335

UMB

Financial

Corp.(a)

9,550

974,291

United

Bankshares,

Inc.

29,650

1,154,274

Valley

National

Bancorp(a)

94,047

789,995

Webster

Financial

Corp.

37,419

1,856,731

Wintrust

Financial

Corp.

14,284

1,545,529

Zions

Bancorp

NA

32,178

1,662,637

35,588,740

Beverages

0

.5

%

Boston

Beer

Co.,

Inc.

(The),

Class

A*

1,990

557,618

Celsius

Holdings,

Inc.*(a)

32,695

1,531,107

Common

Stocks

Shares

Value

($)

Beverages

Coca-Cola

Consolidated,

Inc.

1,026

1,175,683

3,264,408

Biotechnology

3

.0

%

Arrowhead

Pharmaceuticals,

Inc.*(a)

27,223

777,489

BioMarin

Pharmaceutical,

Inc.*

41,392

3,490,587

Cytokinetics,

Inc.*(a)

25,158

1,484,574

Exelixis,

Inc.*

63,920

1,498,924

Halozyme

Therapeutics,

Inc.*(a)

27,692

1,530,260

Neurocrine

Biosciences,

Inc.*

21,932

3,104,913

Roivant

Sciences

Ltd.*

73,810

800,838

Sarepta

Therapeutics,

Inc.*

20,611

2,931,709

United

Therapeutics

Corp.*

9,675

3,031,081

18,650,375

Broadline

Retail

0

.5

%

Macy's,

Inc.

60,545

1,046,218

Nordstrom,

Inc.

21,441

489,498

Ollie's

Bargain

Outlet

Holdings,

Inc.*

13,392

1,307,595

2,843,311

Building

Products

3

.8

%

AAON,

Inc.(a)

14,883

1,317,592

Advanced

Drainage

Systems,

Inc.

14,860

2,630,814

Carlisle

Cos.,

Inc.

10,370

4,340,675

Fortune

Brands

Innovations,

Inc.

27,208

2,198,678

Lennox

International,

Inc.

7,001

4,085,084

Owens

Corning

18,931

3,528,360

Simpson

Manufacturing

Co.,

Inc.(a)

9,204

1,767,996

Trex

Co.,

Inc.*

23,725

1,984,122

UFP

Industries,

Inc.

13,423

1,770,896

23,624,217

Capital

Markets

3

.1

%

Affiliated

Managers

Group,

Inc.

6,946

1,289,317

Carlyle

Group,

Inc.

(The)

47,383

2,356,830

Evercore,

Inc.,

Class

A

7,814

1,956,547

Federated

Hermes,

Inc.,

Class

B

18,135

622,575

Houlihan

Lokey,

Inc.,

Class

A

11,594

1,741,998

Interactive

Brokers

Group,

Inc.,

Class

A

23,518

2,804,992

Janus

Henderson

Group

plc

28,826

1,073,192

Jefferies

Financial

Group,

Inc.

37,462

2,190,403

Morningstar,

Inc.

5,676

1,802,981

SEI

Investments

Co.

22,401

1,519,684

Stifel

Financial

Corp.

22,813

2,022,829

19,381,348

Chemicals

2

.2

%

Arcadium

Lithium

plc*(a)

223,208

709,801

Ashland,

Inc.

10,991

1,062,280

Avient

Corp.

19,769

894,350

Axalta

Coating

Systems

Ltd.*

48,087

1,714,301

Cabot

Corp.

12,007

1,204,182

Chemours

Co.

(The)

32,660

789,392

NewMarket

Corp.

1,502

842,427

Olin

Corp.

26,030

1,187,228

RPM

International,

Inc.(a)

28,095

3,412,419

Nationwide

Mid

Cap

Market

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

57

Common

Stocks

Shares

Value

($)

Chemicals

Scotts

Miracle-Gro

Co.

(The)

(a)

9,190

722,334

Westlake

Corp.

7,067

1,044,927

13,583,641

Commercial

Services

&

Supplies

2

.0

%

Brink's

Co.

(The)

9,769

1,074,492

Clean

Harbors,

Inc.*

10,969

2,618,630

MSA

Safety,

Inc.

8,083

1,524,858

RB

Global,

Inc.

40,038

3,188,226

Stericycle,

Inc.*

20,077

1,175,508

Tetra

Tech,

Inc.

11,663

2,487,018

12,068,732

Communications

Equipment

0

.4

%

Ciena

Corp.*

31,422

1,657,196

Lumentum

Holdings,

Inc.*(a)

14,587

755,315

2,412,511

Construction

&

Engineering

2

.4

%

AECOM

29,757

2,696,282

Comfort

Systems

USA,

Inc.

7,750

2,576,255

EMCOR

Group,

Inc.

10,256

3,850,513

Fluor

Corp.*(a)

37,354

1,796,727

MasTec,

Inc.*

13,185

1,450,745

MDU

Resources

Group,

Inc.

44,573

1,200,797

Valmont

Industries,

Inc.

4,431

1,322,033

14,893,352

Construction

Materials

0

.5

%

Eagle

Materials,

Inc.

7,459

2,031,086

Knife

River

Corp.*

12,434

988,751

3,019,837

Consumer

Finance

0

.8

%

Ally

Financial,

Inc.

60,304

2,714,283

FirstCash

Holdings,

Inc.

8,215

916,794

SLM

Corp.

48,662

1,104,141

4,735,218

Consumer

Staples

Distribution

&

Retail

2

.1

%

BJ's

Wholesale

Club

Holdings,

Inc.*(a)

28,930

2,544,683

Casey's

General

Stores,

Inc.

(a)

8,068

3,129,093

Performance

Food

Group

Co.*

33,915

2,340,135

Sprouts

Farmers

Market,

Inc.*

21,998

2,197,380

US

Foods

Holding

Corp.*

49,339

2,683,548

12,894,839

Containers

&

Packaging

1

.7

%

AptarGroup,

Inc.

14,495

2,130,475

Berry

Global

Group,

Inc.

24,983

1,641,883

Crown

Holdings,

Inc.

26,005

2,306,643

Graphic

Packaging

Holding

Co.

67,218

2,023,262

Greif,

Inc.,

Class

A

5,616

374,475

Silgan

Holdings,

Inc.

17,745

912,625

Sonoco

Products

Co.

21,629

1,166,236

10,555,599

Diversified

Consumer

Services

1

.2

%

Duolingo,

Inc.,

Class

A*(a)

8,014

1,377,927

Graham

Holdings

Co.,

Class

B

765

592,760

Grand

Canyon

Education,

Inc.*

6,294

981,549

Common

Stocks

Shares

Value

($)

Diversified

Consumer

Services

H&R

Block,

Inc.(a)

30,493

1,766,765

Service

Corp.

International

31,810

2,541,937

7,260,938

Diversified

REITs

0

.4

%

WP

Carey,

Inc.

47,683

2,756,554

Diversified

Telecommunication

Services

0

.4

%

Frontier

Communications

Parent,

Inc.*(a)

48,825

1,430,573

Iridium

Communications,

Inc.

26,489

760,234

2,190,807

Electric

Utilities

0

.9

%

ALLETE,

Inc.

12,544

809,088

IDACORP,

Inc.

10,779

1,053,647

OGE

Energy

Corp.

44,237

1,715,069

PNM

Resources,

Inc.

19,685

818,502

Portland

General

Electric

Co.(a)

22,685

1,074,815

5,471,121

Electrical

Equipment

1

.6

%

Acuity

Brands,

Inc.(a)

6,637

1,668,210

EnerSys

8,753

962,217

NEXTracker,

Inc.,

Class

A*

26,947

1,324,176

nVent

Electric

plc

36,322

2,638,067

Regal

Rexnord

Corp.

14,473

2,325,522

Sensata

Technologies

Holding

plc

33,048

1,288,541

10,206,733

Electronic

Equipment,

Instruments

&

Components

2

.5

%

Arrow

Electronics,

Inc.*

11,609

1,435,917

Avnet,

Inc.

19,866

1,067,996

Belden,

Inc.

8,957

830,225

Cognex

Corp.(a)

37,387

1,855,143

Coherent

Corp.*

28,890

2,013,055

Crane

NXT

Co.(a)

10,481

659,046

IPG

Photonics

Corp.*

6,220

500,088

Littelfuse,

Inc.

5,350

1,429,039

Novanta,

Inc.*

7,818

1,416,465

TD

SYNNEX

Corp.

16,960

2,021,123

Vishay

Intertechnology,

Inc.(a)

27,307

663,833

Vontier

Corp.

33,975

1,332,839

15,224,769

Energy

Equipment

&

Services

1

.0

%

ChampionX

Corp.

41,738

1,429,944

NOV,

Inc.

86,359

1,797,994

Valaris

Ltd.*(a)

13,628

1,071,025

Weatherford

International

plc*

15,932

1,877,745

6,176,708

Entertainment

0

.4

%

TKO

Group

Holdings,

Inc.,

Class

A(a)

12,748

1,393,994

Warner

Music

Group

Corp.,

Class

A(a)

31,133

934,301

2,328,295

Financial

Services

1

.7

%

Equitable

Holdings,

Inc.

53,130

2,316,999

Essent

Group

Ltd.

23,229

1,459,710

Euronet

Worldwide,

Inc.*

9,617

980,838

MGIC

Investment

Corp.(a)

58,282

1,447,725

58

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Mid

Cap

Market

Index

Fund

Common

Stocks

Shares

Value

($)

Financial

Services

Voya

Financial,

Inc.

22,415

1,630,243

Western

Union

Co.

(The)

75,391

896,399

WEX,

Inc.*

9,101

1,669,579

10,401,493

Food

Products

1

.1

%

Darling

Ingredients,

Inc.*(a)

34,909

1,386,935

Flowers

Foods,

Inc.(a)

41,515

934,918

Ingredion,

Inc.

14,284

1,776,501

Lancaster

Colony

Corp.

4,382

845,989

Pilgrim's

Pride

Corp.*

9,011

371,523

Post

Holdings,

Inc.*(a)

10,931

1,195,414

6,511,280

Gas

Utilities

1

.0

%

National

Fuel

Gas

Co.(a)

20,212

1,184,221

New

Jersey

Resources

Corp.

21,706

1,014,755

ONE

Gas,

Inc.(a)

12,409

864,039

Southwest

Gas

Holdings,

Inc.

(a)

13,306

986,773

Spire,

Inc.

12,581

837,769

UGI

Corp.

46,191

1,144,613

6,032,170

Ground

Transportation

1

.7

%

Avis

Budget

Group,

Inc.

3,999

403,939

Knight-Swift

Transportation

Holdings,

Inc.,

Class

A

35,320

1,922,468

Landstar

System,

Inc.

7,660

1,457,315

Ryder

System,

Inc.

9,607

1,346,517

Saia,

Inc.*(a)

5,793

2,420,605

XPO,

Inc.*

25,373

2,915,104

10,465,948

Health

Care

Equipment

&

Supplies

1

.7

%

Dentsply

Sirona,

Inc.

44,990

1,221,028

Enovis

Corp.*

10,830

515,941

Envista

Holdings

Corp.*

37,096

633,229

Globus

Medical,

Inc.,

Class

A*

24,454

1,759,710

Haemonetics

Corp.*(a)

11,112

1,000,636

Lantheus

Holdings,

Inc.*

15,101

1,583,038

LivaNova

plc*

11,663

576,152

Masimo

Corp.*

9,803

1,048,725

Neogen

Corp.*(a)

43,413

739,323

Penumbra,

Inc.*

8,385

1,401,050

10,478,832

Health

Care

Providers

&

Services

2

.1

%

Acadia

Healthcare

Co.,

Inc.*

20,242

1,312,694

Amedisys,

Inc.*

7,042

690,468

Chemed

Corp.

3,278

1,868,984

Encompass

Health

Corp.

22,074

2,051,558

HealthEquity,

Inc.*

18,899

1,483,193

Option

Care

Health,

Inc.*

37,809

1,122,549

Progyny,

Inc.*

17,709

499,394

R1

RCM,

Inc.*

42,458

546,859

Tenet

Healthcare

Corp.*

21,327

3,192,652

12,768,351

Health

Care

REITs

0

.7

%

Healthcare

Realty

Trust,

Inc.,

Class

A

82,187

1,453,888

Omega

Healthcare

Investors,

Inc.

53,869

1,960,832

Common

Stocks

Shares

Value

($)

Health

Care

REITs

Sabra

Health

Care

REIT,

Inc.

50,501

819,631

4,234,351

Health

Care

Technology

0

.1

%

Doximity,

Inc.,

Class

A*(a)

26,677

746,956

Hotel

&

Resort

REITs

0

.1

%

Park

Hotels

&

Resorts,

Inc.

46,514

700,501

Hotels,

Restaurants

&

Leisure

3

.4

%

Aramark(a)

57,473

1,969,600

Boyd

Gaming

Corp.

14,853

904,102

Choice

Hotels

International,

Inc.(a)

5,214

664,524

Churchill

Downs,

Inc.

14,555

2,089,516

Hilton

Grand

Vacations,

Inc.*(a)

15,090

652,039

Hyatt

Hotels

Corp.,

Class

A

9,849

1,451,053

Light

&

Wonder,

Inc.*

19,682

2,109,910

Marriott

Vacations

Worldwide

Corp.

7,148

604,578

Planet

Fitness,

Inc.,

Class

A*

19,106

1,408,112

Texas

Roadhouse,

Inc.,

Class

A

14,529

2,536,909

Travel

+

Leisure

Co.

15,590

718,543

Vail

Resorts,

Inc.

8,306

1,511,775

Wendy's

Co.

(The)(a)

36,417

616,540

Wingstop,

Inc.

6,413

2,397,693

Wyndham

Hotels

&

Resorts,

Inc.(a)

17,475

1,323,207

20,958,101

Household

Durables

2

.1

%

Helen

of

Troy

Ltd.*

5,110

302,052

KB

Home

16,134

1,388,815

Taylor

Morrison

Home

Corp.,

Class

A*

22,891

1,535,528

Tempur

Sealy

International,

Inc.

37,865

1,982,233

Toll

Brothers,

Inc.

22,708

3,240,659

TopBuild

Corp.*

6,895

3,299,533

Whirlpool

Corp.

11,865

1,209,874

12,958,694

Independent

Power

and

Renewable

Electricity

Producers

0

.1

%

Ormat

Technologies,

Inc.(a)

11,608

901,245

Industrial

REITs

1

.2

%

EastGroup

Properties,

Inc.

10,399

1,944,509

First

Industrial

Realty

Trust,

Inc.

28,864

1,579,438

Rexford

Industrial

Realty,

Inc.

47,123

2,361,334

STAG

Industrial,

Inc.

39,636

1,617,545

7,502,826

Insurance

4

.9

%

American

Financial

Group,

Inc.

14,476

1,895,777

Brighthouse

Financial,

Inc.*

13,594

677,933

CNO

Financial

Group,

Inc.

24,934

869,199

Erie

Indemnity

Co.,

Class

A(a)

5,418

2,390,151

Fidelity

National

Financial,

Inc.

(a)

56,602

3,136,317

First

American

Financial

Corp.

22,545

1,365,776

Hanover

Insurance

Group,

Inc.

(The)

7,859

1,080,534

Nationwide

Mid

Cap

Market

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

59

Common

Stocks

Shares

Value

($)

Insurance

Kemper

Corp.

13,091

838,609

Kinsale

Capital

Group,

Inc.

4,797

2,192,565

Old

Republic

International

Corp.

55,540

1,922,795

Primerica,

Inc.

7,594

1,911,941

Reinsurance

Group

of

America,

Inc.

14,464

3,260,619

RenaissanceRe

Holdings

Ltd.

(a)

11,548

2,678,097

RLI

Corp.

8,643

1,301,549

Ryan

Specialty

Holdings,

Inc.,

Class

A(a)

22,400

1,379,616

Selective

Insurance

Group,

Inc.

13,258

1,197,463

Unum

Group

36,417

2,095,070

30,194,011

Interactive

Media

&

Services

0

.2

%

Ziff

Davis,

Inc.*

10,034

480,428

ZoomInfo

Technologies,

Inc.,

Class

A*

62,447

709,398

1,189,826

IT

Services

0

.4

%

ASGN,

Inc.*

10,001

946,794

Kyndryl

Holdings,

Inc.*

50,040

1,344,575

2,291,369

Leisure

Products

0

.7

%

Brunswick

Corp.(a)

14,815

1,206,682

Mattel,

Inc.*(a)

75,336

1,453,232

Polaris,

Inc.(a)

11,650

970,212

YETI

Holdings,

Inc.*

18,621

769,978

4,400,104

Life

Sciences

Tools

&

Services

2

.4

%

Avantor,

Inc.*(a)

144,226

3,858,045

Azenta,

Inc.*(a)

11,596

722,315

Bruker

Corp.

21,341

1,462,072

Illumina,

Inc.*

34,708

4,255,201

Medpace

Holdings,

Inc.*

5,120

1,958,502

Repligen

Corp.*

11,377

1,903,941

Sotera

Health

Co.*

26,800

371,716

14,531,792

Machinery

4

.5

%

AGCO

Corp.(a)

13,594

1,283,545

Chart

Industries,

Inc.*(a)

9,114

1,468,083

Crane

Co.

10,794

1,731,573

Donaldson

Co.,

Inc.

26,185

1,959,162

Esab

Corp.

12,467

1,266,647

Flowserve

Corp.

28,788

1,455,233

Graco,

Inc.

36,795

3,129,415

ITT,

Inc.

17,882

2,529,588

Lincoln

Electric

Holdings,

Inc.

12,429

2,553,041

Middleby

Corp.

(The)*(a)

11,629

1,576,660

Oshkosh

Corp.

14,326

1,556,520

RBC

Bearings,

Inc.*(a)

6,300

1,832,292

Terex

Corp.(a)

14,584

922,584

Timken

Co.

(The)

14,207

1,235,299

Toro

Co.

(The)(a)

22,710

2,174,028

Watts

Water

Technologies,

Inc.,

Class

A

5,890

1,222,293

27,895,963

Common

Stocks

Shares

Value

($)

Marine

Transportation

0

.2

%

Kirby

Corp.*

12,649

1,554,309

Media

0

.6

%

New

York

Times

Co.

(The),

Class

A

35,770

1,916,914

Nexstar

Media

Group,

Inc.,

Class

A

6,789

1,254,540

TEGNA,

Inc.

36,830

586,702

3,758,156

Metals

&

Mining

2

.0

%

Alcoa

Corp.

39,173

1,294,276

Cleveland-Cliffs,

Inc.*(a)

103,284

1,585,409

Commercial

Metals

Co.

25,384

1,525,578

MP

Materials

Corp.*(a)

29,238

395,298

Reliance,

Inc.

12,530

3,816,137

Royal

Gold,

Inc.

14,365

1,984,094

United

States

Steel

Corp.(a)

48,731

2,002,357

12,603,149

Mortgage

Real

Estate

Investment

Trusts

(REITs)

0

.6

%

Annaly

Capital

Management,

Inc.

109,938

2,188,866

Starwood

Property

Trust,

Inc.

65,990

1,316,500

3,505,366

Multi-Utilities

0

.2

%

Black

Hills

Corp.

14,851

876,951

Northwestern

Energy

Group,

Inc.

12,796

688,041

1,564,992

Office

REITs

0

.6

%

COPT

Defense

Properties

24,344

705,246

Cousins

Properties,

Inc.

32,833

903,236

Kilroy

Realty

Corp.

23,349

863,212

Vornado

Realty

Trust

35,114

1,053,069

3,524,763

Oil,

Gas

&

Consumable

Fuels

4

.4

%

Antero

Midstream

Corp.

74,178

1,065,196

Antero

Resources

Corp.*(a)

63,526

1,843,525

Chesapeake

Energy

Corp.(a)

24,259

1,851,689

Chord

Energy

Corp.

13,567

2,328,911

Civitas

Resources,

Inc.

20,093

1,401,688

CNX

Resources

Corp.*(a)

33,468

885,898

DT

Midstream,

Inc.

21,055

1,586,705

EQT

Corp.

1

34

HF

Sinclair

Corp.

32,714

1,683,790

Matador

Resources

Co.

25,313

1,556,243

Murphy

Oil

Corp.(a)

31,488

1,302,973

Ovintiv,

Inc.

54,346

2,523,828

PBF

Energy,

Inc.,

Class

A

23,157

943,648

Permian

Resources

Corp.,

Class

A

111,623

1,712,297

Range

Resources

Corp.(a)

53,223

1,662,154

Southwestern

Energy

Co.*

240,299

1,549,929

Texas

Pacific

Land

Corp.(a)

4,053

3,424,380

27,322,888

Paper

&

Forest

Products

0

.2

%

Louisiana-Pacific

Corp.

13,951

1,369,430

Personal

Care

Products

0

.7

%

BellRing

Brands,

Inc.*

28,610

1,467,121

Coty,

Inc.,

Class

A*(a)

80,534

801,313

60

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Mid

Cap

Market

Index

Fund

Common

Stocks

Shares

Value

($)

Personal

Care

Products

elf

Beauty,

Inc.*

12,067

2,082,523

4,350,957

Pharmaceuticals

0

.4

%

Jazz

Pharmaceuticals

plc*

13,756

1,516,599

Perrigo

Co.

plc

29,525

834,672

2,351,271

Professional

Services

2

.6

%

CACI

International,

Inc.,

Class

A*

4,871

2,247,869

Concentrix

Corp.(a)

10,298

726,009

ExlService

Holdings,

Inc.*

35,225

1,242,034

Exponent,

Inc.(a)

11,032

1,170,275

FTI

Consulting,

Inc.*(a)

7,669

1,671,612

Genpact

Ltd.

36,239

1,256,406

Insperity,

Inc.

7,764

797,518

KBR,

Inc.

29,306

1,951,487

ManpowerGroup,

Inc.

10,318

790,152

Maximus,

Inc.

13,355

1,240,546

Paylocity

Holding

Corp.*

9,489

1,424,014

Science

Applications

International

Corp.

11,138

1,385,567

15,903,489

Real

Estate

Management

&

Development

0

.4

%

Jones

Lang

LaSalle,

Inc.*(a)

10,379

2,604,091

Residential

REITs

1

.0

%

American

Homes

4

Rent,

Class

A

70,421

2,541,494

Equity

LifeStyle

Properties,

Inc.

40,647

2,791,636

Independence

Realty

Trust,

Inc.

49,296

919,370

6,252,500

Retail

REITs

1

.0

%

Agree

Realty

Corp.

21,615

1,490,787

Brixmor

Property

Group,

Inc.

65,977

1,680,434

Kite

Realty

Group

Trust

47,483

1,170,931

NNN

REIT,

Inc.

39,888

1,790,572

6,132,724

Semiconductors

&

Semiconductor

Equipment

2

.5

%

Allegro

MicroSystems,

Inc.*(a)

20,794

499,888

Amkor

Technology,

Inc.

22,734

742,492

Cirrus

Logic,

Inc.*

11,688

1,525,050

Lattice

Semiconductor

Corp.*

30,057

1,593,021

MACOM

Technology

Solutions

Holdings,

Inc.*

12,015

1,212,554

MKS

Instruments,

Inc.

13,760

1,732,384

Onto

Innovation,

Inc.*

10,712

2,049,206

Power

Integrations,

Inc.

12,226

892,987

Rambus,

Inc.*

23,511

1,209,406

Silicon

Laboratories,

Inc.*

6,904

829,378

Synaptics,

Inc.*

8,680

757,938

Universal

Display

Corp.(a)

9,475

2,109,324

Wolfspeed,

Inc.*(a)

27,672

521,617

15,675,245

Software

2

.5

%

Altair

Engineering,

Inc.,

Class

A*

12,520

1,106,267

Appfolio,

Inc.,

Class

A*

4,597

1,018,144

Aspen

Technology,

Inc.*

6,121

1,150,442

Common

Stocks

Shares

Value

($)

Software

Blackbaud,

Inc.*

8,892

705,847

CommVault

Systems,

Inc.*

9,510

1,453,603

Dolby

Laboratories,

Inc.,

Class

A

13,011

1,024,746

Dropbox,

Inc.,

Class

A*

52,367

1,252,619

Dynatrace,

Inc.*

52,304

2,297,192

Manhattan

Associates,

Inc.*

13,406

3,423,624

Qualys,

Inc.*

8,041

1,199,235

Teradata

Corp.*

21,287

690,124

15,321,843

Specialized

REITs

1

.7

%

CubeSmart

49,027

2,332,705

EPR

Properties

16,617

747,765

Gaming

and

Leisure

Properties,

Inc.

59,186

2,971,137

Lamar

Advertising

Co.,

Class

A

19,204

2,301,792

National

Storage

Affiliates

Trust

15,469

658,515

PotlatchDeltic

Corp.

17,176

761,927

Rayonier,

Inc.

29,780

903,227

10,677,068

Specialty

Retail

4

.2

%

Abercrombie

&

Fitch

Co.,

Class

A*

11,193

1,650,744

AutoNation,

Inc.*

5,322

1,015,012

Burlington

Stores,

Inc.*

13,919

3,623,394

Dick's

Sporting

Goods,

Inc.

12,698

2,747,212

Five

Below,

Inc.*

11,988

872,007

Floor

&

Decor

Holdings,

Inc.,

Class

A*(a)

23,289

2,282,322

GameStop

Corp.,

Class

A*

58,357

1,322,953

Gap,

Inc.

(The)(a)

47,608

1,117,836

Lithia

Motors,

Inc.,

Class

A(a)

5,950

1,644,164

Murphy

USA,

Inc.

4,110

2,075,221

Penske

Automotive

Group,

Inc.

4,199

731,088

RH*(a)

3,378

979,890

Valvoline,

Inc.*

28,142

1,308,603

Williams-Sonoma,

Inc.(a)

28,012

4,332,896

25,703,342

Technology

Hardware,

Storage

&

Peripherals

0

.6

%

Pure

Storage,

Inc.,

Class

A*

66,601

3,991,398

Textiles,

Apparel

&

Luxury

Goods

1

.2

%

Capri

Holdings

Ltd.*

25,379

851,212

Carter's,

Inc.(a)

7,774

470,716

Columbia

Sportswear

Co.(a)

7,220

589,874

Crocs,

Inc.*

13,195

1,773,012

PVH

Corp.

12,484

1,273,243

Skechers

USA,

Inc.,

Class

A*

28,820

1,877,046

Under

Armour,

Inc.,

Class

A*

44,884

312,841

Under

Armour,

Inc.,

Class

C*(a)

38,968

264,593

7,412,537

Trading

Companies

&

Distributors

1

.8

%

Applied

Industrial

Technologies,

Inc.

8,399

1,832,578

Core

&

Main,

Inc.,

Class

A*

37,196

1,988,870

GATX

Corp.(a)

7,809

1,089,355

Nationwide

Mid

Cap

Market

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

61

Common

Stocks

Shares

Value

($)

Trading

Companies

&

Distributors

MSC

Industrial

Direct

Co.,

Inc.,

Class

A

9,818

873,311

Watsco,

Inc.(a)

6,980

3,416,640

WESCO

International,

Inc.

9,530

1,667,274

10,868,028

Water

Utilities

0

.4

%

Essential

Utilities,

Inc.(a)

54,755

2,225,791

Total

Common

Stocks

(cost

$390,117,249)

616,963,400

Repurchase

Agreements

9

.3

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$9,469,858,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$9,659,258.(b)

9,468,453

9,468,453

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,444,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$3,060,452.(b)

3,000,000

3,000,000

ING

Financial

Services

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$15,002,225,

collateralized

by

U.S.

Government

Treasury

Securities,

4.38%,

maturing

5/15/2034;

total

market

value

$15,300,002.(b)

15,000,000

15,000,000

Nomura

Securities

International,

Inc.,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$8,001,187,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$8,160,001.(b)

8,000,000

8,000,000

Repurchase

Agreements

Principal

Amount

($)

Value

($)

Santander

US

Capital

Markets,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,000,297,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$2,040,303.(b)

2,000,000

2,000,000

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$20,002,962,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$20,400,012.(b)

20,000,000

20,000,000

Total

Repurchase

Agreements

(cost

$57,468,453)

57,468,453

Total

Investments

(cost

$447,585,702)

—

109.3%

674,431,853

Liabilities

in

excess

of

other

assets

—

(9.3)%

(

57,633,586

)

NET

ASSETS

—

100.0%

$

616,798,267

*

Denotes

a

non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$79,416,332,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$57,468,453

and

by

$23,831,444

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

8/15/2024

–

2/15/2054,

a

total

value

of

$81,299,897.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$57,468,453.

REIT

Real

Estate

Investment

Trust

62

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Mid

Cap

Market

Index

Fund

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

S&P

Midcap

400

E-Mini

Index

3

9/2024

USD

936,030

22,137

Net

contracts

22,137

As

of

July

31,

2024,

the

Fund

had

$98,800

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

Nationwide

Mid

Cap

Market

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

63

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

64

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Mid

Cap

Market

Index

Fund

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

financial

futures

contracts.

(a)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

616,963,400

$

–

$

–

$

616,963,400

Futures

Contracts

22,137

–

–

22,137

Repurchase

Agreements

–

57,468,453

–

57,468,453

Total

$

616,985,537

$

57,468,453

$

–

$

674,453,990

Assets:

Fair

Value

Futures

Contracts

Equity

risk

Unrealized

appreciation

from

futures

contracts

$

22,137

Total

$

22,137

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

S&P

500

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

65

Common

Stocks

99

.8

%

Shares

Value

($)

Aerospace

&

Defense

1

.9

%

Axon

Enterprise,

Inc.*(a)

2,395

718,524

Boeing

Co.

(The)*

19,404

3,698,402

General

Dynamics

Corp.

7,616

2,274,975

General

Electric

Co.

36,827

6,267,955

Howmet

Aerospace,

Inc.

13,234

1,266,494

Huntington

Ingalls

Industries,

Inc.

1,361

381,053

L3Harris

Technologies,

Inc.

6,408

1,453,911

Lockheed

Martin

Corp.

7,212

3,908,327

Northrop

Grumman

Corp.

4,751

2,301,004

RTX

Corp.

44,976

5,284,230

Textron,

Inc.

6,286

583,970

TransDigm

Group,

Inc.

1,862

2,409,838

30,548,683

Air

Freight

&

Logistics

0

.4

%

CH

Robinson

Worldwide,

Inc.

4,135

368,222

Expeditors

International

of

Washington,

Inc.

4,847

605,003

FedEx

Corp.

7,645

2,310,701

United

Parcel

Service,

Inc.,

Class

B

24,296

3,167,469

6,451,395

Automobile

Components

0

.1

%

Aptiv

plc*

9,023

626,106

BorgWarner,

Inc.(a)

7,763

274,112

900,218

Automobiles

1

.6

%

Ford

Motor

Co.

133,259

1,441,862

General

Motors

Co.

38,759

1,717,799

Tesla,

Inc.*

93,743

21,754,938

24,914,599

Banks

3

.3

%

Bank

of

America

Corp.

229,765

9,261,827

Citigroup,

Inc.

64,163

4,162,895

Citizens

Financial

Group,

Inc.

15,826

675,295

Fifth

Third

Bancorp

23,677

1,002,484

Huntington

Bancshares,

Inc.

47,529

710,559

JPMorgan

Chase

&

Co.

96,978

20,636,918

KeyCorp

31,547

508,853

M&T

Bank

Corp.

5,481

943,664

PNC

Financial

Services

Group,

Inc.

(The)

13,534

2,451,007

Regions

Financial

Corp.

31,496

704,566

Truist

Financial

Corp.

45,092

2,015,162

US

Bancorp

52,535

2,357,771

Wells

Fargo

&

Co.

117,735

6,986,395

52,417,396

Beverages

1

.3

%

Brown-Forman

Corp.,

Class

B(a)

6,148

277,644

Coca-Cola

Co.

(The)

130,902

8,736,399

Constellation

Brands,

Inc.,

Class

A

5,459

1,338,328

Keurig

Dr

Pepper,

Inc.

35,300

1,210,084

Molson

Coors

Beverage

Co.,

Class

B(a)

6,259

330,788

Monster

Beverage

Corp.*

23,953

1,232,382

PepsiCo,

Inc.

46,501

8,029,328

21,154,953

Common

Stocks

Shares

Value

($)

Biotechnology

2

.0

%

AbbVie,

Inc.

59,733

11,069,719

Amgen,

Inc.

18,101

6,018,039

Biogen,

Inc.*

4,900

1,044,680

Gilead

Sciences,

Inc.

42,445

3,228,367

Incyte

Corp.*(a)

6,374

414,756

Moderna,

Inc.*(a)

11,099

1,323,223

Regeneron

Pharmaceuticals,

Inc.*

3,593

3,877,530

Vertex

Pharmaceuticals,

Inc.*

8,719

4,322,183

31,298,497

Broadline

Retail

3

.8

%

Amazon.com,

Inc.*

309,263

57,825,996

eBay,

Inc.

17,054

948,373

Etsy,

Inc.*

4,176

272,024

59,046,393

Building

Products

0

.5

%

A

O

Smith

Corp.

4,096

348,324

Allegion

plc

2,995

409,746

Builders

FirstSource,

Inc.*

4,152

694,920

Carrier

Global

Corp.

28,264

1,925,061

Johnson

Controls

International

plc

22,471

1,607,575

Masco

Corp.

7,621

593,295

Trane

Technologies

plc

7,709

2,576,965

8,155,886

Capital

Markets

3

.0

%

Ameriprise

Financial,

Inc.

3,405

1,464,388

Bank

of

New

York

Mellon

Corp.

(The)

25,494

1,658,895

BlackRock,

Inc.(a)

4,683

4,104,649

Blackstone,

Inc.

24,338

3,459,647

Cboe

Global

Markets,

Inc.

3,506

643,386

Charles

Schwab

Corp.

(The)

50,312

3,279,839

CME

Group,

Inc.

12,178

2,359,000

FactSet

Research

Systems,

Inc.

1,263

521,733

Franklin

Resources,

Inc.

10,279

235,081

Goldman

Sachs

Group,

Inc.

(The)

10,890

5,543,337

Intercontinental

Exchange,

Inc.

19,373

2,936,172

Invesco

Ltd.

15,312

264,285

KKR

&

Co.,

Inc.

22,476

2,774,662

MarketAxess

Holdings,

Inc.

1,217

272,036

Moody's

Corp.

5,343

2,438,973

Morgan

Stanley

42,501

4,386,528

MSCI,

Inc.,

Class

A

2,635

1,424,903

Nasdaq,

Inc.

14,244

964,034

Northern

Trust

Corp.

6,766

599,806

Raymond

James

Financial,

Inc.

6,457

749,012

S&P

Global,

Inc.

10,784

5,227,328

State

Street

Corp.

10,226

868,903

T.

Rowe

Price

Group,

Inc.(a)

7,508

857,489

47,034,086

Chemicals

1

.5

%

Air

Products

&

Chemicals,

Inc.

7,520

1,984,152

Albemarle

Corp.(a)

3,914

366,624

Celanese

Corp.,

Class

A(a)

3,261

460,290

CF

Industries

Holdings,

Inc.

5,970

456,048

Corteva,

Inc.

24,111

1,352,627

66

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

S&P

500

Index

Fund

Common

Stocks

Shares

Value

($)

Chemicals

Dow,

Inc.

23,946

1,304,339

DuPont

de

Nemours,

Inc.

13,889

1,162,509

Eastman

Chemical

Co.

3,768

389,347

Ecolab,

Inc.

8,586

1,980,704

FMC

Corp.(a)

4,350

253,866

International

Flavors

&

Fragrances,

Inc.

8,741

869,555

Linde

plc

16,234

7,362,119

LyondellBasell

Industries

NV,

Class

A

8,521

847,499

Mosaic

Co.

(The)

10,944

325,803

PPG

Industries,

Inc.

7,970

1,012,031

Sherwin-Williams

Co.

(The)

7,945

2,787,106

22,914,619

Commercial

Services

&

Supplies

0

.6

%

Cintas

Corp.

2,927

2,236,052

Copart,

Inc.*

29,730

1,555,771

Republic

Services,

Inc.,

Class

A

6,889

1,338,670

Rollins,

Inc.

9,924

475,459

Veralto

Corp.

7,391

787,585

Waste

Management,

Inc.

12,307

2,494,137

8,887,674

Communications

Equipment

0

.8

%

Arista

Networks,

Inc.*

8,454

2,929,734

Cisco

Systems,

Inc.

137,479

6,660,858

F5,

Inc.*

2,045

416,444

Juniper

Networks,

Inc.

11,279

425,105

Motorola

Solutions,

Inc.

5,557

2,216,798

12,648,939

Construction

&

Engineering

0

.1

%

Quanta

Services,

Inc.

4,979

1,321,327

Construction

Materials

0

.2

%

Martin

Marietta

Materials,

Inc.

2,069

1,227,641

Vulcan

Materials

Co.

4,435

1,217,452

2,445,093

Consumer

Finance

0

.6

%

American

Express

Co.

19,172

4,851,283

Capital

One

Financial

Corp.

12,893

1,952,000

Discover

Financial

Services

8,619

1,241,050

Synchrony

Financial

13,046

662,606

8,706,939

Consumer

Staples

Distribution

&

Retail

1

.8

%

Costco

Wholesale

Corp.

15,013

12,340,686

Dollar

General

Corp.

7,418

893,053

Dollar

Tree,

Inc.*

7,039

734,449

Kroger

Co.

(The)

22,109

1,204,941

Sysco

Corp.

16,613

1,273,386

Target

Corp.

15,626

2,350,307

Walgreens

Boots

Alliance,

Inc.

24,244

287,776

Walmart,

Inc.

144,136

9,893,495

28,978,093

Containers

&

Packaging

0

.2

%

Amcor

plc

48,265

508,231

Avery

Dennison

Corp.

2,619

567,878

Ball

Corp.

10,875

694,151

International

Paper

Co.(a)

11,916

553,856

Packaging

Corp.

of

America

3,045

608,604

Common

Stocks

Shares

Value

($)

Containers

&

Packaging

Smurfit

WestRock

plc*

17,061

765,015

3,697,735

Distributors

0

.1

%

Genuine

Parts

Co.

4,652

684,356

LKQ

Corp.

9,544

396,076

Pool

Corp.(a)

1,256

469,794

1,550,226

Diversified

Telecommunication

Services

0

.7

%

AT&T,

Inc.

242,238

4,663,082

Verizon

Communications,

Inc.

142,420

5,770,858

10,433,940

Electric

Utilities

1

.6

%

Alliant

Energy

Corp.(a)

8,352

464,872

American

Electric

Power

Co.,

Inc.

17,946

1,760,862

Constellation

Energy

Corp.

10,645

2,020,421

Duke

Energy

Corp.(a)

26,091

2,850,964

Edison

International

12,835

1,026,928

Entergy

Corp.(a)

7,191

833,940

Evergy,

Inc.

7,514

435,812

Eversource

Energy

11,810

766,587

Exelon

Corp.

33,375

1,241,550

FirstEnergy

Corp.

17,114

717,248

NextEra

Energy,

Inc.

69,415

5,302,612

NRG

Energy,

Inc.

7,040

529,197

PG&E

Corp.

73,064

1,333,418

Pinnacle

West

Capital

Corp.(a)

3,789

324,301

PPL

Corp.

25,495

757,711

Southern

Co.

(The)

36,916

3,083,224

Xcel

Energy,

Inc.

18,440

1,074,683

24,524,330

Electrical

Equipment

0

.7

%

AMETEK,

Inc.

7,803

1,353,664

Eaton

Corp.

plc

13,509

4,117,408

Emerson

Electric

Co.

19,348

2,265,844

GE

Vernova,

Inc.*

9,135

1,628,222

Generac

Holdings,

Inc.*

2,042

317,899

Hubbell,

Inc.,

Class

B(a)

1,810

716,127

Rockwell

Automation,

Inc.

3,889

1,083,670

11,482,834

Electronic

Equipment,

Instruments

&

Components

0

.6

%

Amphenol

Corp.,

Class

A

40,310

2,590,320

CDW

Corp.

4,460

972,771

Corning,

Inc.

25,903

1,036,379

Jabil,

Inc.

3,931

442,906

Keysight

Technologies,

Inc.*

5,894

822,625

TE

Connectivity

Ltd.

10,379

1,601,791

Teledyne

Technologies,

Inc.*

1,565

660,211

Trimble,

Inc.*

8,611

469,644

Zebra

Technologies

Corp.,

Class

A*

1,757

617,041

9,213,688

Energy

Equipment

&

Services

0

.3

%

Baker

Hughes

Co.,

Class

A

34,035

1,317,835

Halliburton

Co.

30,319

1,051,463

Schlumberger

NV

48,664

2,349,985

4,719,283

Entertainment

1

.2

%

Electronic

Arts,

Inc.

8,318

1,255,519

Nationwide

S&P

500

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

67

Common

Stocks

Shares

Value

($)

Entertainment

Live

Nation

Entertainment,

Inc.*(a)

4,734

455,364

Netflix,

Inc.*

14,552

9,143,749

Take-Two

Interactive

Software,

Inc.*

5,240

788,777

Walt

Disney

Co.

(The)

61,565

5,768,025

Warner

Bros

Discovery,

Inc.*

76,254

659,597

18,071,031

Financial

Services

4

.0

%

Berkshire

Hathaway,

Inc.,

Class

B*

61,137

26,808,575

Corpay,

Inc.*

2,448

714,375

Fidelity

National

Information

Services,

Inc.

18,785

1,443,252

Fiserv,

Inc.*

19,759

3,231,980

Global

Payments,

Inc.

8,703

884,573

Jack

Henry

&

Associates,

Inc.

2,500

428,700

Mastercard,

Inc.,

Class

A

27,726

12,856,823

PayPal

Holdings,

Inc.*

35,326

2,323,744

Visa,

Inc.,

Class

A(a)

53,160

14,123,017

62,815,039

Food

Products

0

.7

%

Archer-Daniels-Midland

Co.

16,697

1,035,381

Bunge

Global

SA(a)

4,796

504,683

Campbell

Soup

Co.

6,894

323,053

Conagra

Brands,

Inc.(a)

15,991

484,847

General

Mills,

Inc.

19,292

1,295,265

Hershey

Co.

(The)(a)

4,981

983,648

Hormel

Foods

Corp.

9,810

314,999

J

M

Smucker

Co.

(The)

3,715

438,184

Kellanova

8,874

516,023

Kraft

Heinz

Co.

(The)

26,672

939,121

Lamb

Weston

Holdings,

Inc.(a)

4,799

288,036

McCormick

&

Co.,

Inc.

(Non-Voting)

8,682

668,601

Mondelez

International,

Inc.,

Class

A

45,180

3,088,053

Tyson

Foods,

Inc.,

Class

A

9,859

600,413

11,480,307

Gas

Utilities

0

.0

%

†

Atmos

Energy

Corp.

5,000

639,400

Ground

Transportation

1

.0

%

CSX

Corp.

66,412

2,331,061

JB

Hunt

Transport

Services,

Inc.(a)

2,782

481,703

Norfolk

Southern

Corp.

7,530

1,879,187

Old

Dominion

Freight

Line,

Inc.(a)

6,084

1,278,735

Uber

Technologies,

Inc.*

69,893

4,506,002

Union

Pacific

Corp.

20,666

5,098,922

15,575,610

Health

Care

Equipment

&

Supplies

2

.3

%

Abbott

Laboratories

58,502

6,197,702

Align

Technology,

Inc.*

2,409

558,599

Baxter

International,

Inc.

17,037

610,265

Becton

Dickinson

&

Co.

9,810

2,364,799

Boston

Scientific

Corp.*

49,565

3,661,862

Cooper

Cos.,

Inc.

(The)*

6,896

643,604

Dexcom,

Inc.*

13,190

894,546

Edwards

Lifesciences

Corp.*

20,524

1,294,038

Common

Stocks

Shares

Value

($)

Health

Care

Equipment

&

Supplies

GE

HealthCare

Technologies,

Inc.(a)

14,328

1,212,579

Hologic,

Inc.*

7,881

643,168

IDEXX

Laboratories,

Inc.*

2,801

1,333,612

Insulet

Corp.*

2,392

464,885

Intuitive

Surgical,

Inc.*

11,863

5,274,408

Medtronic

plc

45,095

3,622,030

ResMed,

Inc.

5,065

1,080,111

Solventum

Corp.*(a)

4,669

274,911

STERIS

plc

3,415

815,365

Stryker

Corp.

11,449

3,748,975

Teleflex,

Inc.

1,518

335,357

Zimmer

Biomet

Holdings,

Inc.

7,050

785,018

35,815,834

Health

Care

Providers

&

Services

2

.6

%

Cardinal

Health,

Inc.

8,253

832,150

Cencora,

Inc.

5,604

1,333,080

Centene

Corp.*

17,931

1,379,253

Cigna

Group

(The)

9,593

3,344,791

CVS

Health

Corp.

42,251

2,549,003

DaVita,

Inc.*

1,662

227,062

Elevance

Health,

Inc.

7,849

4,175,903

HCA

Healthcare,

Inc.

6,545

2,376,162

Henry

Schein,

Inc.*

4,435

319,054

Humana,

Inc.

4,149

1,500,320

Labcorp

Holdings,

Inc.

2,891

622,837

McKesson

Corp.

4,390

2,708,718

Molina

Healthcare,

Inc.*

1,935

660,357

Quest

Diagnostics,

Inc.

3,860

549,278

UnitedHealth

Group,

Inc.

31,082

17,908,205

Universal

Health

Services,

Inc.,

Class

B(a)

1,923

411,061

40,897,234

Health

Care

REITs

0

.3

%

Alexandria

Real

Estate

Equities,

Inc.

5,122

600,759

Healthpeak

Properties,

Inc.

23,812

519,578

Ventas,

Inc.

13,632

742,126

Welltower,

Inc.

20,192

2,246,360

4,108,823

Hotel

&

Resort

REITs

0

.0

%

†

Host

Hotels

&

Resorts,

Inc.

24,873

435,526

Hotels,

Restaurants

&

Leisure

1

.8

%

Airbnb,

Inc.,

Class

A*

14,736

2,056,556

Booking

Holdings,

Inc.

1,146

4,257,402

Caesars

Entertainment,

Inc.*

6,912

276,134

Carnival

Corp.*

33,795

563,025

Chipotle

Mexican

Grill,

Inc.,

Class

A*

46,600

2,531,312

Darden

Restaurants,

Inc.(a)

3,935

575,651

Domino's

Pizza,

Inc.

1,142

489,575

Expedia

Group,

Inc.*

4,446

567,621

Hilton

Worldwide

Holdings,

Inc.

8,422

1,807,951

Las

Vegas

Sands

Corp.

12,420

492,701

Marriott

International,

Inc.,

Class

A

8,081

1,836,811

McDonald's

Corp.

24,338

6,459,305

MGM

Resorts

International*(a)

9,049

388,836

68

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

S&P

500

Index

Fund

Common

Stocks

Shares

Value

($)

Hotels,

Restaurants

&

Leisure

Norwegian

Cruise

Line

Holdings

Ltd.*

13,986

257,762

Royal

Caribbean

Cruises

Ltd.*

7,982

1,250,939

Starbucks

Corp.

38,516

3,002,322

Wynn

Resorts

Ltd.

3,041

251,856

Yum!

Brands,

Inc.

9,482

1,259,494

28,325,253

Household

Durables

0

.4

%

DR

Horton,

Inc.

10,177

1,831,148

Garmin

Ltd.

5,174

886,048

Lennar

Corp.,

Class

A

8,193

1,449,587

Mohawk

Industries,

Inc.*

1,959

315,536

NVR,

Inc.*

103

886,570

PulteGroup,

Inc.(a)

7,041

929,412

6,298,301

Household

Products

1

.2

%

Church

&

Dwight

Co.,

Inc.

8,020

786,040

Clorox

Co.

(The)

4,300

567,299

Colgate-Palmolive

Co.

28,068

2,784,065

Kimberly-Clark

Corp.

11,422

1,542,541

Procter

&

Gamble

Co.

(The)

79,610

12,798,104

18,478,049

Independent

Power

and

Renewable

Electricity

Producers

0

.1

%

AES

Corp.

(The)

22,264

396,076

Vistra

Corp.

11,276

893,285

1,289,361

Industrial

Conglomerates

0

.4

%

3M

Co.

18,677

2,382,252

Honeywell

International,

Inc.

21,991

4,502,657

6,884,909

Industrial

REITs

0

.3

%

Prologis,

Inc.

31,352

3,951,920

Insurance

2

.1

%

Aflac,

Inc.(a)

17,598

1,678,497

Allstate

Corp.

(The)

8,773

1,501,236

American

International

Group,

Inc.

22,413

1,775,782

Aon

plc,

Class

A

7,343

2,412,249

Arch

Capital

Group

Ltd.*

12,512

1,198,399

Arthur

J

Gallagher

&

Co.(a)

7,393

2,095,842

Assurant,

Inc.

1,812

316,864

Brown

&

Brown,

Inc.

7,926

788,082

Chubb

Ltd.

13,665

3,766,894

Cincinnati

Financial

Corp.

5,373

701,821

Everest

Group

Ltd.

1,505

591,269

Globe

Life,

Inc.

2,785

258,281

Hartford

Financial

Services

Group,

Inc.

(The)

10,005

1,109,755

Loews

Corp.

6,164

492,812

Marsh

&

McLennan

Cos.,

Inc.

16,551

3,683,756

MetLife,

Inc.

19,913

1,530,314

Principal

Financial

Group,

Inc.

7,248

590,785

Progressive

Corp.

(The)

19,818

4,243,430

Prudential

Financial,

Inc.(a)

12,261

1,536,549

Travelers

Cos.,

Inc.

(The)

7,824

1,693,427

W

R

Berkley

Corp.

10,639

586,528

Willis

Towers

Watson

plc

3,430

968,220

33,520,792

Common

Stocks

Shares

Value

($)

Interactive

Media

&

Services

6

.3

%

Alphabet,

Inc.,

Class

A

198,368

34,028,047

Alphabet,

Inc.,

Class

C

165,029

28,574,771

Match

Group,

Inc.*

9,738

371,407

Meta

Platforms,

Inc.,

Class

A

74,006

35,140,269

98,114,494

IT

Services

1

.1

%

Accenture

plc,

Class

A

21,213

7,013,442

Akamai

Technologies,

Inc.*

5,153

506,437

Cognizant

Technology

Solutions

Corp.,

Class

A

16,634

1,258,861

EPAM

Systems,

Inc.*

1,874

403,153

Gartner,

Inc.*

2,638

1,322,139

GoDaddy,

Inc.,

Class

A*

4,760

692,342

International

Business

Machines

Corp.

31,013

5,958,838

VeriSign,

Inc.*

3,066

573,373

17,728,585

Leisure

Products

0

.0

%

†

Hasbro,

Inc.

4,174

269,056

Life

Sciences

Tools

&

Services

1

.3

%

Agilent

Technologies,

Inc.

10,054

1,421,636

Bio-Rad

Laboratories,

Inc.,

Class

A*

665

225,009

Bio-Techne

Corp.

5,266

429,653

Charles

River

Laboratories

International,

Inc.*(a)

1,775

433,278

Danaher

Corp.

22,173

6,143,695

IQVIA

Holdings,

Inc.*

6,100

1,502,003

Mettler-Toledo

International,

Inc.*

728

1,107,310

Revvity,

Inc.

4,212

529,069

Thermo

Fisher

Scientific,

Inc.

12,891

7,906,566

Waters

Corp.*

2,020

679,286

West

Pharmaceutical

Services,

Inc.

2,497

764,506

21,142,011

Machinery

1

.6

%

Caterpillar,

Inc.

16,516

5,717,839

Cummins,

Inc.

4,600

1,342,280

Deere

&

Co.

8,742

3,251,849

Dover

Corp.

4,591

845,938

Fortive

Corp.

11,970

860,045

IDEX

Corp.

2,574

536,628

Illinois

Tool

Works,

Inc.

9,233

2,283,136

Ingersoll

Rand,

Inc.(a)

13,656

1,371,062

Nordson

Corp.(a)

1,837

459,856

Otis

Worldwide

Corp.

13,540

1,279,530

PACCAR,

Inc.

17,692

1,745,493

Parker-Hannifin

Corp.

4,343

2,437,118

Pentair

plc

5,688

499,805

Snap-on,

Inc.(a)

1,747

501,441

Stanley

Black

&

Decker,

Inc.

5,079

536,444

Westinghouse

Air

Brake

Technologies

Corp.

6,063

977,052

Xylem,

Inc.

8,210

1,096,035

25,741,551

Media

0

.6

%

Charter

Communications,

Inc.,

Class

A*(a)

3,285

1,247,380

Comcast

Corp.,

Class

A

132,184

5,455,234

Nationwide

S&P

500

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

69

Common

Stocks

Shares

Value

($)

Media

Fox

Corp.,

Class

A

7,461

283,816

Fox

Corp.,

Class

B

5,046

178,780

Interpublic

Group

of

Cos.,

Inc.

(The)(a)

12,707

408,784

News

Corp.,

Class

A

13,611

375,392

News

Corp.,

Class

B

3,166

90,199

Omnicom

Group,

Inc.(a)

6,755

662,260

Paramount

Global,

Class

B

16,404

187,334

8,889,179

Metals

&

Mining

0

.4

%

Freeport-McMoRan,

Inc.

48,524

2,203,475

Newmont

Corp.

38,870

1,907,351

Nucor

Corp.

8,266

1,346,862

Steel

Dynamics,

Inc.

5,095

678,756

6,136,444

Multi-Utilities

0

.6

%

Ameren

Corp.

8,587

680,691

CenterPoint

Energy,

Inc.(a)

21,304

591,186

CMS

Energy

Corp.

9,902

641,650

Consolidated

Edison,

Inc.

11,732

1,144,105

Dominion

Energy,

Inc.(a)

28,129

1,503,776

DTE

Energy

Co.

6,906

832,380

NiSource,

Inc.(a)

14,623

456,969

Public

Service

Enterprise

Group,

Inc.

16,893

1,347,555

Sempra

21,306

1,705,758

WEC

Energy

Group,

Inc.(a)

10,458

900,015

9,804,085

Office

REITs

0

.0

%

†

BXP,

Inc.

4,960

353,698

Oil,

Gas

&

Consumable

Fuels

3

.4

%

APA

Corp.

12,220

381,142

Chevron

Corp.

57,881

9,288,164

ConocoPhillips

39,496

4,391,955

Coterra

Energy,

Inc.

25,644

661,615

Devon

Energy

Corp.

21,725

1,021,727

Diamondback

Energy,

Inc.(a)

6,081

1,230,247

EOG

Resources,

Inc.(a)

19,408

2,460,934

EQT

Corp.

18,970

654,655

Exxon

Mobil

Corp.

151,492

17,965,436

Hess

Corp.

9,356

1,435,398

Kinder

Morgan,

Inc.(a)

66,456

1,404,215

Marathon

Oil

Corp.

19,280

540,804

Marathon

Petroleum

Corp.

11,898

2,106,184

Occidental

Petroleum

Corp.

22,441

1,364,862

ONEOK,

Inc.

19,695

1,641,184

Phillips

66

14,425

2,098,549

Targa

Resources

Corp.

7,576

1,024,881

Valero

Energy

Corp.

11,043

1,785,874

Williams

Cos.,

Inc.

(The)

41,242

1,770,932

53,228,758

Passenger

Airlines

0

.1

%

American

Airlines

Group,

Inc.*(a)

21,076

224,249

Delta

Air

Lines,

Inc.

21,759

936,072

Southwest

Airlines

Co.(a)

19,716

531,149

United

Airlines

Holdings,

Inc.*

10,879

494,124

2,185,594

Common

Stocks

Shares

Value

($)

Personal

Care

Products

0

.1

%

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

7,850

781,938

Kenvue,

Inc.

64,750

1,197,228

1,979,166

Pharmaceuticals

3

.6

%

Bristol-Myers

Squibb

Co.

68,457

3,255,815

Catalent,

Inc.*

6,061

359,660

Eli

Lilly

&

Co.

26,979

21,698,400

Johnson

&

Johnson

81,445

12,856,093

Merck

&

Co.,

Inc.

85,367

9,657,569

Pfizer,

Inc.

191,389

5,845,020

Viatris,

Inc.

41,454

499,935

Zoetis,

Inc.,

Class

A

15,443

2,780,358

56,952,850

Professional

Services

0

.7

%

Automatic

Data

Processing,

Inc.

13,833

3,632,823

Broadridge

Financial

Solutions,

Inc.

4,033

863,062

Dayforce,

Inc.*(a)

5,099

302,269

Equifax,

Inc.

4,152

1,159,944

Jacobs

Solutions,

Inc.

4,374

640,135

Leidos

Holdings,

Inc.

4,433

640,125

Paychex,

Inc.

10,862

1,390,553

Paycom

Software,

Inc.(a)

1,618

269,866

Verisk

Analytics,

Inc.,

Class

A

4,902

1,283,099

10,181,876

Real

Estate

Management

&

Development

0

.1

%

CBRE

Group,

Inc.,

Class

A*

9,943

1,120,676

CoStar

Group,

Inc.*

13,665

1,066,143

2,186,819

Residential

REITs

0

.3

%

AvalonBay

Communities,

Inc.

4,767

976,854

Camden

Property

Trust

3,692

408,889

Equity

Residential

11,545

803,878

Essex

Property

Trust,

Inc.

2,207

614,341

Invitation

Homes,

Inc.

19,511

688,153

Mid-America

Apartment

Communities,

Inc.

3,922

548,178

UDR,

Inc.

10,678

427,867

4,468,160

Retail

REITs

0

.3

%

Federal

Realty

Investment

Trust

2,636

294,309

Kimco

Realty

Corp.

22,816

495,792

Realty

Income

Corp.

27,975

1,606,604

Regency

Centers

Corp.

5,396

363,367

Simon

Property

Group,

Inc.

11,070

1,698,581

4,458,653

Semiconductors

&

Semiconductor

Equipment

11

.3

%

Advanced

Micro

Devices,

Inc.*

54,667

7,898,288

Analog

Devices,

Inc.

16,702

3,864,509

Applied

Materials,

Inc.

28,151

5,973,642

Broadcom,

Inc.

147,110

23,637,635

Enphase

Energy,

Inc.*

4,611

530,772

First

Solar,

Inc.*

3,615

780,804

Intel

Corp.

143,046

4,397,234

KLA

Corp.

4,573

3,763,899

Lam

Research

Corp.

4,436

4,086,621

70

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

S&P

500

Index

Fund

Common

Stocks

Shares

Value

($)

Semiconductors

&

Semiconductor

Equipment

Microchip

Technology,

Inc.

18,105

1,607,362

Micron

Technology,

Inc.

37,391

4,106,280

Monolithic

Power

Systems,

Inc.

1,625

1,402,521

NVIDIA

Corp.

830,699

97,208,397

NXP

Semiconductors

NV

8,794

2,314,229

ON

Semiconductor

Corp.*

14,621

1,144,093

Qorvo,

Inc.*

3,043

364,551

QUALCOMM,

Inc.

37,758

6,832,310

Skyworks

Solutions,

Inc.

5,237

595,028

Teradyne,

Inc.(a)

5,198

681,770

Texas

Instruments,

Inc.(a)

30,764

6,270,011

177,459,956

Software

10

.3

%

Adobe,

Inc.*

15,129

8,345,913

ANSYS,

Inc.*

2,930

918,936

Autodesk,

Inc.*

7,250

1,794,520

Cadence

Design

Systems,

Inc.*

9,243

2,473,981

Crowdstrike

Holdings,

Inc.,

Class

A*

7,790

1,806,968

Fair

Isaac

Corp.*(a)

825

1,320,000

Fortinet,

Inc.*

21,333

1,238,167

Gen

Digital,

Inc.(a)

19,462

505,817

Intuit,

Inc.

9,428

6,103,216

Microsoft

Corp.

250,993

105,002,922

Oracle

Corp.

53,942

7,522,212

Palo

Alto

Networks,

Inc.*

10,733

3,485,327

PTC,

Inc.*

4,045

719,403

Roper

Technologies,

Inc.(a)

3,609

1,966,003

Salesforce,

Inc.

32,750

8,475,700

ServiceNow,

Inc.*

6,963

5,670,598

Synopsys,

Inc.*

5,156

2,878,698

Tyler

Technologies,

Inc.*

1,423

808,421

161,036,802

Specialized

REITs

1

.0

%

American

Tower

Corp.

15,805

3,483,422

Crown

Castle,

Inc.

14,682

1,616,194

Digital

Realty

Trust,

Inc.

10,926

1,633,328

Equinix,

Inc.

3,166

2,501,900

Extra

Space

Storage,

Inc.

7,148

1,140,964

Iron

Mountain,

Inc.

10,033

1,028,984

Public

Storage

5,357

1,585,243

SBA

Communications

Corp.,

Class

A

3,668

805,273

VICI

Properties,

Inc.,

Class

A

35,234

1,101,415

Weyerhaeuser

Co.

24,550

779,708

15,676,431

Specialty

Retail

1

.9

%

AutoZone,

Inc.*

578

1,811,273

Bath

&

Body

Works,

Inc.

7,033

258,463

Best

Buy

Co.,

Inc.

6,727

582,020

CarMax,

Inc.*(a)

5,381

454,371

Home

Depot,

Inc.

(The)

33,468

12,321,579

Lowe's

Cos.,

Inc.

19,416

4,766,822

O'Reilly

Automotive,

Inc.*

1,979

2,229,027

Ross

Stores,

Inc.

11,290

1,617,067

TJX

Cos.,

Inc.

(The)

38,136

4,310,131

Tractor

Supply

Co.

3,692

972,177

Common

Stocks

Shares

Value

($)

Specialty

Retail

Ulta

Beauty,

Inc.*

1,663

606,812

29,929,742

Technology

Hardware,

Storage

&

Peripherals

7

.2

%

Apple,

Inc.

486,770

108,101,882

Hewlett

Packard

Enterprise

Co.

44,648

888,942

HP,

Inc.

29,349

1,059,205

NetApp,

Inc.

6,913

877,813

Seagate

Technology

Holdings

plc

6,487

662,777

Super

Micro

Computer,

Inc.*

1,704

1,195,611

Western

Digital

Corp.*

10,746

720,519

113,506,749

Textiles,

Apparel

&

Luxury

Goods

0

.3

%

Deckers

Outdoor

Corp.*

862

795,307

Lululemon

Athletica,

Inc.*

3,827

989,892

NIKE,

Inc.,

Class

B

40,854

3,058,330

Ralph

Lauren

Corp.,

Class

A

1,213

212,991

Tapestry,

Inc.

7,968

319,437

5,375,957

Tobacco

0

.6

%

Altria

Group,

Inc.

58,005

2,842,825

Philip

Morris

International,

Inc.

52,570

6,053,961

8,896,786

Trading

Companies

&

Distributors

0

.3

%

Fastenal

Co.

19,328

1,367,456

United

Rentals,

Inc.

2,237

1,693,633

WW

Grainger,

Inc.(a)

1,464

1,430,050

4,491,139

Water

Utilities

0

.1

%

American

Water

Works

Co.,

Inc.

6,676

950,395

Wireless

Telecommunication

Services

0

.2

%

T-Mobile

US,

Inc.

17,405

3,172,583

Total

Common

Stocks

(cost

$674,680,986)

1,566,351,734

Repurchase

Agreements

1

.8

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$2,231,822,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$2,276,459.(b)

2,231,491

2,231,491

Nationwide

S&P

500

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

71

Repurchase

Agreements

Principal

Amount

($)

Value

($)

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,739,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$5,100,754.(b)

5,000,000

5,000,000

Nomura

Securities

International,

Inc.,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$10,973,628,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

5.36%,

maturing

4/30/2025

-

2/15/2052;

total

market

value

$11,191,441.(b)

10,972,000

10,972,000

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$10,001,481,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$10,200,006.(b)

10,000,000

10,000,000

Total

Repurchase

Agreements

(cost

$28,203,491)

28,203,491

Total

Investments

(cost

$702,884,477)

—

101.6%

1,594,555,225

Liabilities

in

excess

of

other

assets

—

(1.6)%

(

25,280,735

)

NET

ASSETS

—

100.0%

$

1,569,274,490

*

Denotes

a

non-income

producing

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$55,380,196,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$28,203,491

and

by

$28,045,539

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

8/1/2024

–

2/15/2054,

a

total

value

of

$56,249,030.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$28,203,491.

REIT

Real

Estate

Investment

Trust

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

S&P

500

E-Mini

Index

38

9/2024

USD

10,560,200

(69,014)

Net

contracts

(69,014)

As

of

July

31,

2024,

the

Fund

had

$450,200

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

72

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

S&P

500

Index

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

S&P

500

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

73

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

financial

futures

contracts.

(a)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

1,566,351,734

$

–

$

–

$

1,566,351,734

Repurchase

Agreements

–

28,203,491

–

28,203,491

Total

Assets

$

1,566,351,734

$

28,203,491

$

–

$

1,594,555,225

Liabilities:

Futures

Contracts

$

(

69,014

)

$

–

$

–

$

(

69,014

)

Total

Liabilities

$

(

69,014

)

$

–

$

–

$

(

69,014

)

Total

$

1,566,282,720

$

28,203,491

$

–

$

1,594,486,211

Liabilities:

Fair

Value

Futures

Contracts

Equity

risk

Unrealized

depreciation

from

futures

contracts

$

(

69,014

)

Total

$

(

69,014

)

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

74

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Closed

End

Fund

Closed

End

Fund

0

.0

%

†

Principal

Amount

($)

Value

($)

Diversified

REITs

0

.0

%

†

NexPoint

Diversified

Real

Estate

Trust

3,097

19,604

Total

Closed

End

Fund

(cost  $32,165)

19,604

Common

Stocks

99

.5

%

Shares

Value

($)

Aerospace

&

Defense

1

.1

%

AAR

Corp.*

3,197

206,526

AeroVironment,

Inc.*

2,422

432,424

AerSale

Corp.*

3,443

23,206

Archer

Aviation,

Inc.,

Class

A*(a)

21,590

90,030

Astronics

Corp.*

2,813

64,783

Byrna

Technologies,

Inc.*(a)

1,601

15,017

Cadre

Holdings,

Inc.

2,385

87,530

Ducommun,

Inc.*

1,249

80,148

Eve

Holding,

Inc.*(a)

1,713

5,893

Intuitive

Machines,

Inc.*(a)

2,697

10,734

Kratos

Defense

&

Security

Solutions,

Inc.*

13,666

308,032

Leonardo

DRS,

Inc.*

6,302

177,716

Mercury

Systems,

Inc.*

5,066

180,096

Moog,

Inc.,

Class

A(a)

2,636

516,920

National

Presto

Industries,

Inc.

485

37,088

Park

Aerospace

Corp.

1,559

20,906

Redwire

Corp.*(a)

2,049

14,507

Rocket

Lab

USA,

Inc.*(a)

31,997

167,664

Terran

Orbital

Corp.*(a)

17,575

12,649

Triumph

Group,

Inc.*

6,022

98,701

V2X,

Inc.*

1,134

59,116

Virgin

Galactic

Holdings,

Inc.*(a)

1,501

10,672

VirTra,

Inc.*(a)

969

8,498

2,628,856

Air

Freight

&

Logistics

0

.2

%

Air

Transport

Services

Group,

Inc.*

4,831

77,972

Forward

Air

Corp.(a)

2,272

57,618

Hub

Group,

Inc.,

Class

A

5,645

264,017

Radiant

Logistics,

Inc.*

3,719

23,132

422,739

Automobile

Components

1

.3

%

Adient

plc*

8,463

218,007

American

Axle

&

Manufacturing

Holdings,

Inc.*

10,514

78,119

Cooper-Standard

Holdings,

Inc.*

1,496

22,111

Dana,

Inc.(a)

12,320

156,587

Dorman

Products,

Inc.*

2,400

243,288

Fox

Factory

Holding

Corp.*

3,981

212,546

Gentherm,

Inc.*(a)

2,905

160,298

Goodyear

Tire

&

Rubber

Co.

(The)*

26,267

307,324

Holley,

Inc.*

4,418

17,407

LCI

Industries(a)

2,288

266,987

Common

Stocks

Shares

Value

($)

Automobile

Components

Luminar

Technologies,

Inc.,

Class

A*(a)

30,749

51,043

Modine

Manufacturing

Co.*(a)

4,765

560,650

Patrick

Industries,

Inc.

2,016

258,169

Phinia,

Inc.

4,199

187,695

Solid

Power,

Inc.*(a)

13,746

25,842

Standard

Motor

Products,

Inc.

2,092

68,471

Stoneridge,

Inc.*

2,448

41,151

Visteon

Corp.*

2,530

292,316

XPEL,

Inc.

Reg.

S*(a)

2,316

94,655

3,262,666

Automobiles

0

.1

%

Canoo,

Inc.*(a)

5,382

10,818

Livewire

Group,

Inc.*(a)

1,723

12,698

Winnebago

Industries,

Inc.(a)

2,678

167,429

190,945

Banks

10

.0

%

1st

Source

Corp.

1,803

114,581

ACNB

Corp.

702

29,119

Amalgamated

Financial

Corp.

1,787

56,844

Amerant

Bancorp,

Inc.,

Class

A

2,941

66,143

Ameris

Bancorp

6,075

369,907

Ames

National

Corp.(a)

815

17,791

Arrow

Financial

Corp.(a)

1,565

49,329

Associated

Banc-Corp.

14,485

332,865

Atlantic

Union

Bankshares

Corp.(a)

7,858

324,457

Axos

Financial,

Inc.*

5,042

368,116

Banc

of

California,

Inc.

13,024

182,076

BancFirst

Corp.(a)

1,936

207,984

Bancorp,

Inc.

(The)*(a)

4,479

232,191

Bank

First

Corp.(a)

906

83,986

Bank

of

Hawaii

Corp.

3,410

233,892

Bank

of

Marin

Bancorp

1,552

31,521

Bank

of

NT

Butterfield

&

Son

Ltd.

(The)

4,399

168,658

Bank7

Corp.

353

14,642

BankUnited,

Inc.

6,556

252,537

Bankwell

Financial

Group,

Inc.

706

19,874

Banner

Corp.

3,115

184,470

Bar

Harbor

Bankshares

1,512

48,324

BayCom

Corp.

972

23,415

BCB

Bancorp,

Inc.

1,417

17,968

Berkshire

Hills

Bancorp,

Inc.

3,916

108,082

Blue

Foundry

Bancorp*

1,650

18,628

Bridgewater

Bancshares,

Inc.*

2,034

28,090

Brookline

Bancorp,

Inc.

8,138

85,368

Burke

&

Herbert

Financial

Services

Corp.

1,205

81,578

Business

First

Bancshares,

Inc.

2,322

59,025

Byline

Bancorp,

Inc.

3,118

87,460

Cadence

Bank(a)

15,354

504,686

California

Bancorp,

Inc.*

725

18,190

Camden

National

Corp.

1,230

51,266

Capital

Bancorp,

Inc.(a)

850

21,666

Capital

City

Bank

Group,

Inc.

1,220

43,310

Capitol

Federal

Financial,

Inc.

11,176

70,632

Carter

Bankshares,

Inc.*

2,428

39,552

Cathay

General

Bancorp

6,190

274,341

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

75

Common

Stocks

Shares

Value

($)

Banks

Central

Pacific

Financial

Corp.

2,361

61,598

Chemung

Financial

Corp.

331

16,140

ChoiceOne

Financial

Services,

Inc.(a)

661

18,177

Citizens

&

Northern

Corp.

1,303

26,386

Citizens

Financial

Services,

Inc.(a)

464

24,805

City

Holding

Co.

1,291

157,373

Civista

Bancshares,

Inc.

1,468

26,351

CNB

Financial

Corp.

1,946

49,934

Coastal

Financial

Corp.*

1,117

58,866

Colony

Bankcorp,

Inc.

1,315

20,422

Columbia

Financial,

Inc.*(a)

2,643

47,600

Community

Financial

System,

Inc.(a)

4,791

295,509

Community

Trust

Bancorp,

Inc.

1,522

77,196

Community

West

Bancshares

1,621

33,620

ConnectOne

Bancorp,

Inc.

3,288

79,635

CrossFirst

Bankshares,

Inc.*

4,426

82,058

Customers

Bancorp,

Inc.*

2,735

176,353

CVB

Financial

Corp.

11,909

226,986

Dime

Community

Bancshares,

Inc.(a)

3,240

81,907

Eagle

Bancorp,

Inc.

2,522

54,273

Eastern

Bankshares,

Inc.(a)

17,914

298,089

Enterprise

Bancorp,

Inc.

497

14,686

Enterprise

Financial

Services

Corp.

3,605

190,596

Equity

Bancshares,

Inc.,

Class

A

1,391

56,335

Esquire

Financial

Holdings,

Inc.

597

36,817

ESSA

Bancorp,

Inc.

808

15,506

Farmers

&

Merchants

Bancorp,

Inc.

1,241

34,165

Farmers

National

Banc

Corp.

3,247

50,686

FB

Financial

Corp.

3,463

161,687

Fidelity

D&D

Bancorp,

Inc.(a)

441

22,888

Financial

Institutions,

Inc.

1,547

40,717

First

Bancorp

18,225

466,201

First

Bancorp,

Inc.

(The)

1,016

28,600

First

Bancshares,

Inc.

(The)

3,027

100,860

First

Bank

2,164

33,412

First

Busey

Corp.

5,389

147,874

First

Business

Financial

Services,

Inc.

696

32,030

First

Commonwealth

Financial

Corp.

9,045

163,534

First

Community

Bankshares,

Inc.

1,606

71,917

First

Financial

Bancorp

8,529

233,353

First

Financial

Bankshares,

Inc.(a)

12,133

466,635

First

Financial

Corp.

1,235

55,526

First

Financial

Northwest,

Inc.

656

14,111

First

Foundation,

Inc.

5,542

38,794

First

Internet

Bancorp

778

28,833

First

Interstate

BancSystem,

Inc.,

Class

A

7,549

238,322

First

Merchants

Corp.

5,749

231,972

First

Mid

Bancshares,

Inc.

2,285

87,721

Common

Stocks

Shares

Value

($)

Banks

First

of

Long

Island

Corp.

(The)

2,185

28,667

First

Western

Financial,

Inc.*

851

15,437

Five

Star

Bancorp

1,613

47,422

Flushing

Financial

Corp.

2,284

33,643

FS

Bancorp,

Inc.

627

27,607

Fulton

Financial

Corp.

15,350

297,329

FVCBankcorp,

Inc.*

1,611

20,427

German

American

Bancorp,

Inc.

2,739

107,752

Glacier

Bancorp,

Inc.

10,606

474,194

Great

Southern

Bancorp,

Inc.

(a)

783

49,024

Greene

County

Bancorp,

Inc.

(a)

756

27,405

Guaranty

Bancshares,

Inc.

792

27,348

Hancock

Whitney

Corp.

8,005

438,114

Hanmi

Financial

Corp.(a)

2,619

53,428

HarborOne

Bancorp,

Inc.

4,028

53,774

HBT

Financial,

Inc.

1,117

25,691

Heartland

Financial

USA,

Inc.

3,966

216,226

Heritage

Commerce

Corp.

5,783

59,854

Heritage

Financial

Corp.

3,262

75,581

Hilltop

Holdings,

Inc.

4,546

149,973

Hingham

Institution

for

Savings(a)

139

34,568

Home

Bancorp,

Inc.

731

32,252

Home

BancShares,

Inc.

17,889

506,795

HomeStreet,

Inc.

1,670

24,048

HomeTrust

Bancshares,

Inc.

1,349

47,849

Hope

Bancorp,

Inc.

10,499

138,167

Horizon

Bancorp,

Inc.

4,114

65,701

Independent

Bank

Corp.

6,003

322,431

Independent

Bank

Group,

Inc.

3,281

193,776

International

Bancshares

Corp.

5,031

339,291

Investar

Holding

Corp.

920

17,020

John

Marshall

Bancorp,

Inc.

1,161

22,442

Kearny

Financial

Corp.

4,981

35,863

Lakeland

Financial

Corp.

2,202

150,903

LCNB

Corp.(a)

1,001

15,305

LINKBANCORP,

Inc.

1,888

13,764

Live

Oak

Bancshares,

Inc.

3,252

146,795

Mercantile

Bank

Corp.

1,485

71,815

Metrocity

Bankshares,

Inc.

1,755

55,476

Metropolitan

Bank

Holding

Corp.*(a)

935

49,303

Mid

Penn

Bancorp,

Inc.

1,338

39,672

Middlefield

Banc

Corp.

744

20,058

Midland

States

Bancorp,

Inc.

2,010

47,717

MidWestOne

Financial

Group,

Inc.

1,433

42,001

MVB

Financial

Corp.

976

22,419

National

Bank

Holdings

Corp.,

Class

A

3,313

138,748

National

Bankshares,

Inc.

547

17,384

NB

Bancorp,

Inc.*

3,687

70,495

NBT

Bancorp,

Inc.(a)

3,926

192,453

New

York

Community

Bancorp,

Inc.(a)

23,434

246,526

Nicolet

Bankshares,

Inc.

1,254

126,102

Northeast

Bank

673

48,900

76

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Banks

Northeast

Community

Bancorp,

Inc.

1,279

29,136

Northfield

Bancorp,

Inc.

3,975

49,727

Northrim

Bancorp,

Inc.

521

35,636

Northwest

Bancshares,

Inc.

11,140

156,406

Norwood

Financial

Corp.(a)

698

20,577

Oak

Valley

Bancorp

637

18,135

OceanFirst

Financial

Corp.

5,399

98,100

OFG

Bancorp

4,170

189,401

Old

National

Bancorp

29,801

596,616

Old

Second

Bancorp,

Inc.

4,276

72,350

Orange

County

Bancorp,

Inc.

(a)

483

30,038

Origin

Bancorp,

Inc.

2,839

97,548

Orrstown

Financial

Services,

Inc.

1,810

63,640

Pacific

Premier

Bancorp,

Inc.

8,778

237,533

Park

National

Corp.(a)

1,378

243,851

Parke

Bancorp,

Inc.

1,095

21,418

Pathward

Financial,

Inc.

2,360

159,394

PCB

Bancorp

1,142

22,006

Peapack-Gladstone

Financial

Corp.(a)

1,713

48,409

Peoples

Bancorp

of

North

Carolina,

Inc.

438

13,920

Peoples

Bancorp,

Inc.

3,217

107,030

Peoples

Financial

Services

Corp.(a)

843

41,872

Pioneer

Bancorp,

Inc.*

658

7,337

Plumas

Bancorp(a)

518

22,414

Ponce

Financial

Group,

Inc.*

1,936

19,166

Preferred

Bank(a)

816

70,225

Premier

Financial

Corp.

3,495

88,563

Primis

Financial

Corp.

1,688

22,282

Princeton

Bancorp,

Inc.(a)

481

18,817

Provident

Bancorp,

Inc.*(a)

1,393

15,170

Provident

Financial

Services,

Inc.

10,814

200,492

QCR

Holdings,

Inc.

1,622

123,986

RBB

Bancorp

1,657

38,227

Red

River

Bancshares,

Inc.

432

24,071

Renasant

Corp.

4,965

170,746

Republic

Bancorp,

Inc.,

Class

A(a)

822

53,940

S&T

Bancorp,

Inc.

3,473

154,132

Sandy

Spring

Bancorp,

Inc.

4,288

131,341

Seacoast

Banking

Corp.

of

Florida

7,530

209,635

ServisFirst

Bancshares,

Inc.

4,681

375,603

Shore

Bancshares,

Inc.

2,830

41,092

Sierra

Bancorp(a)

1,149

33,424

Simmons

First

National

Corp.,

Class

A

10,921

235,129

SmartFinancial,

Inc.

1,478

41,887

South

Plains

Financial,

Inc.

1,038

33,673

Southern

California

Bancorp*(a)

1,011

15,964

Southern

First

Bancshares,

Inc.*

712

24,635

Southern

Missouri

Bancorp,

Inc.

837

47,876

Common

Stocks

Shares

Value

($)

Banks

Southern

States

Bancshares,

Inc.

710

23,231

Southside

Bancshares,

Inc.

2,523

88,280

SouthState

Corp.

7,187

711,297

Stellar

Bancorp,

Inc.

4,772

130,753

Sterling

Bancorp,

Inc.*(a)

1,722

10,022

Stock

Yards

Bancorp,

Inc.(a)

2,406

149,701

Texas

Capital

Bancshares,

Inc.*

4,409

291,435

Third

Coast

Bancshares,

Inc.*

1,009

23,580

Timberland

Bancorp,

Inc.

714

21,813

Tompkins

Financial

Corp.

1,208

76,032

Towne

Bank

6,857

227,927

TriCo

Bancshares(a)

3,041

141,498

Triumph

Financial,

Inc.*(a)

2,041

185,180

TrustCo

Bank

Corp.

1,701

60,573

Trustmark

Corp.

5,448

189,209

UMB

Financial

Corp.(a)

4,183

426,750

United

Bankshares,

Inc.

12,197

474,829

United

Community

Banks,

Inc.

10,585

327,606

Unity

Bancorp,

Inc.

713

24,684

Univest

Financial

Corp.

2,733

75,567

USCB

Financial

Holdings,

Inc.

633

10,546

Valley

National

Bancorp

39,821

334,496

Veritex

Holdings,

Inc.

4,372

109,606

Virginia

National

Bankshares

Corp.(a)

447

17,469

WaFd,

Inc.

6,635

236,140

Washington

Trust

Bancorp,

Inc.

1,606

51,408

WesBanco,

Inc.

5,647

180,026

West

Bancorp,

Inc.(a)

1,569

32,541

Westamerica

Bancorp

2,290

123,568

WSFS

Financial

Corp.

5,330

301,092

25,053,984

Beverages

0

.3

%

Duckhorn

Portfolio,

Inc.

(The)*

4,465

32,416

MGP

Ingredients,

Inc.(a)

1,315

107,238

National

Beverage

Corp.

2,083

101,630

Primo

Water

Corp.

14,585

319,849

Vita

Coco

Co.,

Inc.

(The)*(a)

3,599

92,998

654,131

Biotechnology

8

.9

%

2seventy

bio,

Inc.*

4,753

22,434

4D

Molecular

Therapeutics,

Inc.*

4,604

81,629

89bio,

Inc.*

7,777

71,237

Absci

Corp.*

7,439

32,732

ACADIA

Pharmaceuticals,

Inc.*

11,086

210,856

ACELYRIN,

Inc.*

7,362

44,172

Achieve

Life

Sciences,

Inc.*

3,154

15,707

Acrivon

Therapeutics,

Inc.*(a)

1,378

11,548

Actinium

Pharmaceuticals,

Inc.*

2,461

17,030

Acumen

Pharmaceuticals,

Inc.*

3,870

12,771

ADC

Therapeutics

SA*

6,467

21,470

ADMA

Biologics,

Inc.*

20,765

254,994

Adverum

Biotechnologies,

Inc.*

1,922

14,261

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

77

Common

Stocks

Shares

Value

($)

Biotechnology

Aerovate

Therapeutics,

Inc.*

1,087

1,978

Agenus,

Inc.*(a)

1,693

10,226

Agios

Pharmaceuticals,

Inc.*(a)

5,213

241,883

Akebia

Therapeutics,

Inc.*(a)

18,066

24,931

Akero

Therapeutics,

Inc.*

6,257

167,250

Aldeyra

Therapeutics,

Inc.*

4,407

17,364

Alector,

Inc.*

7,991

47,946

Alkermes

plc*

15,516

423,897

Allogene

Therapeutics,

Inc.*(a)

10,267

30,185

Altimmune,

Inc.*(a)

6,589

41,906

ALX

Oncology

Holdings,

Inc.*

3,493

16,766

Amicus

Therapeutics,

Inc.*

27,057

278,958

AnaptysBio,

Inc.*(a)

1,953

68,043

Anavex

Life

Sciences

Corp.*(a)

6,341

43,087

Anika

Therapeutics,

Inc.*

1,420

38,695

Annexon,

Inc.*

7,776

49,844

Apogee

Therapeutics,

Inc.*(a)

3,350

163,145

Applied

Therapeutics,

Inc.*

8,854

52,593

Arbutus

Biopharma

Corp.*

13,026

49,108

Arcellx,

Inc.*(a)

3,979

245,942

Arcturus

Therapeutics

Holdings,

Inc.*(a)

2,237

52,480

Arcus

Biosciences,

Inc.*(a)

4,875

79,999

Arcutis

Biotherapeutics,

Inc.*(a)

9,810

98,787

Ardelyx,

Inc.*(a)

21,472

119,170

ArriVent

Biopharma,

Inc.*

792

17,345

Arrowhead

Pharmaceuticals,

Inc.*(a)

11,021

314,760

ARS

Pharmaceuticals,

Inc.*(a)

4,551

49,469

Astria

Therapeutics,

Inc.*

4,324

50,504

Atossa

Therapeutics,

Inc.*(a)

11,688

15,779

Aura

Biosciences,

Inc.*

4,209

42,974

Aurinia

Pharmaceuticals,

Inc.*(a)

13,584

79,874

Avid

Bioservices,

Inc.*(a)

5,846

61,032

Avidity

Biosciences,

Inc.*

9,320

424,806

Avita

Medical,

Inc.*(a)

2,379

23,314

Beam

Therapeutics,

Inc.*(a)

7,058

223,315

BioCryst

Pharmaceuticals,

Inc.*

19,054

138,713

Biohaven

Ltd.*

6,936

272,793

Biomea

Fusion,

Inc.*(a)

3,166

17,635

Black

Diamond

Therapeutics,

Inc.*(a)

3,434

20,913

Bluebird

Bio,

Inc.*(a)

16,182

18,771

Blueprint

Medicines

Corp.*(a)

5,803

628,465

Bridgebio

Pharma,

Inc.*(a)

12,972

336,623

C4

Therapeutics,

Inc.*(a)

5,461

36,589

Cabaletta

Bio,

Inc.*

4,112

29,195

Candel

Therapeutics,

Inc.*(a)

1,866

11,065

Capricor

Therapeutics,

Inc.*(a)

2,349

9,537

Cardiff

Oncology,

Inc.*

3,660

8,564

CareDx,

Inc.*

4,840

96,752

Cargo

Therapeutics,

Inc.*

1,861

31,693

Caribou

Biosciences,

Inc.*

6,896

15,999

Cartesian

Therapeutics,

Inc.*(a)

660

10,758

Catalyst

Pharmaceuticals,

Inc.*

10,730

184,985

Common

Stocks

Shares

Value

($)

Biotechnology

Celcuity,

Inc.*

2,159

39,574

Celldex

Therapeutics,

Inc.*(a)

5,963

227,250

Century

Therapeutics,

Inc.*

4,528

10,097

CervoMed,

Inc.*(a)

500

6,500

CG

oncology,

Inc.*

2,223

74,137

Cibus,

Inc.,

Class

A*(a)

1,369

13,539

Cogent

Biosciences,

Inc.*

8,466

79,834

Coherus

Biosciences,

Inc.*(a)

9,257

14,256

Compass

Therapeutics,

Inc.*(a)

8,635

8,894

Corbus

Pharmaceuticals

Holdings,

Inc.*(a)

940

55,902

Crinetics

Pharmaceuticals,

Inc.*

7,179

381,349

Cullinan

Therapeutics,

Inc.*

3,584

69,350

Cytokinetics,

Inc.*(a)

10,312

608,511

Day

One

Biopharmaceuticals,

Inc.*(a)

4,828

69,089

Denali

Therapeutics,

Inc.*(a)

11,506

280,401

Design

Therapeutics,

Inc.*(a)

3,288

16,769

Dianthus

Therapeutics,

Inc.*(a)

2,200

65,516

Disc

Medicine,

Inc.*

1,515

65,387

Dynavax

Technologies

Corp.*

12,196

136,473

Dyne

Therapeutics,

Inc.*

7,451

319,722

Editas

Medicine,

Inc.*(a)

7,650

41,387

Elevation

Oncology,

Inc.*

4,777

12,564

Eliem

Therapeutics,

Inc.*(a)

935

7,751

Enanta

Pharmaceuticals,

Inc.*

2,036

30,051

Entrada

Therapeutics,

Inc.*

2,479

40,829

Erasca,

Inc.*(a)

11,208

35,305

Fate

Therapeutics,

Inc.*

9,564

50,976

Fennec

Pharmaceuticals,

Inc.*(a)

1,717

11,109

Fibrobiologics,

Inc.*

2,315

12,061

Foghorn

Therapeutics,

Inc.*(a)

1,979

13,893

G1

Therapeutics,

Inc.*(a)

4,610

19,777

Galectin

Therapeutics,

Inc.*(a)

3,006

7,515

Generation

Bio

Co.*

4,131

13,798

Geron

Corp.*(a)

53,073

251,566

Greenwich

Lifesciences,

Inc.*(a)

536

8,640

Gyre

Therapeutics,

Inc.*(a)

676

9,782

Halozyme

Therapeutics,

Inc.*(a)

11,537

637,535

Heron

Therapeutics,

Inc.*(a)

10,318

30,644

HilleVax,

Inc.*

2,998

5,486

Humacyte,

Inc.*(a)

7,972

75,415

Ideaya

Biosciences,

Inc.*

7,568

325,802

IGM

Biosciences,

Inc.*(a)

945

10,546

ImmunityBio,

Inc.*

13,126

67,599

Immunome,

Inc.*(a)

4,747

73,151

Immunovant,

Inc.*

5,367

156,019

Inhibrx

Biosciences,

Inc.*

795

11,535

Inmune

Bio,

Inc.*(a)

1,145

9,836

Inovio

Pharmaceuticals,

Inc.*

2,373

25,296

Inozyme

Pharma,

Inc.*

4,527

26,257

Insmed,

Inc.*

14,359

1,044,617

Intellia

Therapeutics,

Inc.*(a)

8,910

233,531

Invivyd,

Inc.*(a)

7,277

9,096

Iovance

Biotherapeutics,

Inc.*(a)

23,373

204,046

78

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Biotechnology

Ironwood

Pharmaceuticals,

Inc.,

Class

A*

13,654

93,257

iTeos

Therapeutics,

Inc.*(a)

2,365

41,600

Janux

Therapeutics,

Inc.*

2,592

105,235

Jasper

Therapeutics,

Inc.*(a)

1,035

19,137

KalVista

Pharmaceuticals,

Inc.*(a)

3,532

51,355

Keros

Therapeutics,

Inc.*

2,723

136,586

Kiniksa

Pharmaceuticals

International

plc,

Class

A*(a)

3,451

91,797

Kodiak

Sciences,

Inc.*

3,213

9,350

Korro

Bio,

Inc.*(a)

565

26,306

Krystal

Biotech,

Inc.*(a)

2,287

476,748

Kura

Oncology,

Inc.*

6,704

139,510

Kymera

Therapeutics,

Inc.*(a)

4,114

190,067

Kyverna

Therapeutics,

Inc.*(a)

1,572

13,614

Larimar

Therapeutics,

Inc.*(a)

3,885

32,595

LENZ

Therapeutics,

Inc.(a)

1,163

28,877

Lexeo

Therapeutics,

Inc.*

804

10,090

Lexicon

Pharmaceuticals,

Inc.*

11,268

25,353

Lineage

Cell

Therapeutics,

Inc.*(a)

12,211

12,577

Lyell

Immunopharma,

Inc.*

15,810

25,454

MacroGenics,

Inc.*

5,499

20,676

Madrigal

Pharmaceuticals,

Inc.*(a)

1,618

460,580

MannKind

Corp.*(a)

24,575

141,552

MeiraGTx

Holdings

plc*(a)

2,997

15,674

Mersana

Therapeutics,

Inc.*(a)

10,042

20,084

Metagenomi,

Inc.*

1,529

5,933

MiMedx

Group,

Inc.*

11,527

85,876

Mineralys

Therapeutics,

Inc.*

2,646

32,784

Mirum

Pharmaceuticals,

Inc.*

3,606

146,223

Monte

Rosa

Therapeutics,

Inc.*

2,724

12,312

Morphic

Holding,

Inc.*

3,680

208,509

Myriad

Genetics,

Inc.*

8,262

231,088

Neurogene,

Inc.*(a)

949

39,042

Nkarta,

Inc.*

4,901

31,513

Novavax,

Inc.*(a)

13,050

167,171

Nurix

Therapeutics,

Inc.*

5,586

122,222

Nuvalent,

Inc.,

Class

A*(a)

2,950

235,823

Ocugen,

Inc.*(a)

23,694

33,290

Olema

Pharmaceuticals,

Inc.*(a)

3,686

59,566

Organogenesis

Holdings,

Inc.,

Class

A*

6,549

19,778

ORIC

Pharmaceuticals,

Inc.*(a)

5,685

63,672

Outlook

Therapeutics,

Inc.*(a)

622

4,821

Ovid

therapeutics,

Inc.*(a)

5,642

5,868

PepGen,

Inc.*

1,422

16,253

Perspective

Therapeutics,

Inc.*

4,321

58,766

Poseida

Therapeutics,

Inc.,

Class

A*

6,431

22,701

Praxis

Precision

Medicines,

Inc.*

1,591

91,817

Precigen,

Inc.*(a)

13,044

19,827

Prelude

Therapeutics,

Inc.*(a)

1,278

8,141

Prime

Medicine,

Inc.*(a)

5,272

29,576

Common

Stocks

Shares

Value

($)

Biotechnology

ProKidney

Corp.,

Class

A*(a)

4,110

9,617

Protagonist

Therapeutics,

Inc.*

5,395

201,989

Prothena

Corp.

plc*

4,003

93,190

PTC

Therapeutics,

Inc.*

7,029

237,932

Puma

Biotechnology,

Inc.*(a)

3,854

13,817

Pyxis

Oncology,

Inc.*

4,483

17,573

Q32

Bio,

Inc.*(a)

567

21,591

RAPT

Therapeutics,

Inc.*(a)

2,693

8,456

Recursion

Pharmaceuticals,

Inc.,

Class

A*(a)

19,080

156,456

REGENXBIO,

Inc.*

4,260

60,705

Regulus

Therapeutics,

Inc.*(a)

5,696

10,253

Relay

Therapeutics,

Inc.*

9,071

74,564

Renovaro,

Inc.*(a)

5,211

3,804

Replimune

Group,

Inc.*

4,732

47,320

REVOLUTION

Medicines,

Inc.*(a)

14,060

641,698

Rhythm

Pharmaceuticals,

Inc.*(a)

5,048

243,364

Rigel

Pharmaceuticals,

Inc.*

1,513

16,008

Rocket

Pharmaceuticals,

Inc.*

6,093

147,451

Sage

Therapeutics,

Inc.*

4,690

51,356

Sana

Biotechnology,

Inc.*(a)

12,252

74,615

Savara,

Inc.*(a)

9,216

42,394

Scholar

Rock

Holding

Corp.*(a)

6,351

57,667

Sera

Prognostics,

Inc.,

Class

A*(a)

2,518

20,874

Shattuck

Labs,

Inc.*(a)

3,658

14,559

Skye

Bioscience,

Inc.*

1,573

8,132

Soleno

Therapeutics,

Inc.*(a)

2,035

98,148

Solid

Biosciences,

Inc.*

2,104

18,768

SpringWorks

Therapeutics,

Inc.*(a)

6,352

228,100

Spyre

Therapeutics,

Inc.*

3,199

87,973

Stoke

Therapeutics,

Inc.*

3,294

49,311

Summit

Therapeutics,

Inc.*(a)

8,116

87,653

Sutro

Biopharma,

Inc.*

7,571

30,057

Syndax

Pharmaceuticals,

Inc.*(a)

7,610

172,747

Tango

Therapeutics,

Inc.*(a)

4,759

46,876

Taysha

Gene

Therapies,

Inc.*(a)

14,753

32,604

Tenaya

Therapeutics,

Inc.*

4,174

14,609

TG

Therapeutics,

Inc.*(a)

12,877

254,450

Tourmaline

Bio,

Inc.

2,125

35,870

Travere

Therapeutics,

Inc.*

7,022

66,990

TScan

Therapeutics,

Inc.*(a)

3,532

25,219

Twist

Bioscience

Corp.*(a)

5,310

296,351

Tyra

Biosciences,

Inc.*(a)

1,877

41,594

UroGen

Pharma

Ltd.*

3,161

51,998

Vanda

Pharmaceuticals,

Inc.*

6,032

35,227

Vaxcyte,

Inc.*(a)

10,077

794,975

Vera

Therapeutics,

Inc.,

Class

A*

3,538

129,455

Veracyte,

Inc.*(a)

7,138

171,312

Verastem,

Inc.*

2,411

6,269

Vericel

Corp.*

4,482

226,431

Verve

Therapeutics,

Inc.*(a)

7,048

49,336

Vir

Biotechnology,

Inc.*

8,300

84,328

Viridian

Therapeutics,

Inc.*

5,791

97,578

Voyager

Therapeutics,

Inc.*(a)

3,762

34,573

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

79

Common

Stocks

Shares

Value

($)

Biotechnology

Werewolf

Therapeutics,

Inc.*

2,864

6,444

X4

Pharmaceuticals,

Inc.*

18,632

14,907

XBiotech,

Inc.*(a)

1,682

12,985

Xencor,

Inc.*

5,482

111,942

XOMA

Royalty

Corp.*(a)

692

18,518

Y-mAbs

Therapeutics,

Inc.*

3,311

40,659

Zentalis

Pharmaceuticals,

Inc.*

4,958

19,287

Zura

Bio

Ltd.,

Class

A*(a)

2,235

8,828

Zymeworks,

Inc.*

5,051

52,833

22,174,447

Broadline

Retail

0

.0

%

†

1stdibs.com,

Inc.*

2,238

10,250

Groupon,

Inc.,

Class

A*(a)

2,127

28,332

Savers

Value

Village,

Inc.*(a)

2,355

23,997

62,579

Building

Products

1

.5

%

American

Woodmark

Corp.*

1,494

152,612

Apogee

Enterprises,

Inc.

2,095

143,801

AZZ,

Inc.(a)

2,711

216,772

Caesarstone

Ltd.*

1,813

11,494

CSW

Industrials,

Inc.

1,442

467,814

Gibraltar

Industries,

Inc.*

2,843

211,150

Griffon

Corp.

3,554

256,101

Insteel

Industries,

Inc.

1,735

59,424

Janus

International

Group,

Inc.*

13,036

187,979

JELD-WEN

Holding,

Inc.*

8,048

134,321

Masterbrand,

Inc.*

11,763

212,322

Quanex

Building

Products

Corp.

4,166

139,144

Resideo

Technologies,

Inc.*

13,528

307,356

Tecnoglass,

Inc.(a)

2,073

111,548

UFP

Industries,

Inc.

5,608

739,863

Zurn

Elkay

Water

Solutions

Corp.(a)

13,408

435,224

3,786,925

Capital

Markets

1

.7

%

AlTi

Global,

Inc.*(a)

3,349

16,410

Artisan

Partners

Asset

Management,

Inc.,

Class

A(a)

5,813

256,702

AssetMark

Financial

Holdings,

Inc.*

2,163

74,624

B.

Riley

Financial,

Inc.(a)

1,757

33,734

BGC

Group,

Inc.,

Class

A

32,215

296,700

Brightsphere

Investment

Group,

Inc.

2,627

68,801

Cohen

&

Steers,

Inc.(a)

2,568

220,386

Diamond

Hill

Investment

Group,

Inc.

247

39,327

Donnelley

Financial

Solutions,

Inc.*

2,430

163,976

Forge

Global

Holdings,

Inc.*(a)

10,398

15,077

GCM

Grosvenor,

Inc.,

Class

A(a)

4,036

44,921

Hamilton

Lane,

Inc.,

Class

A

3,601

519,876

MarketWise,

Inc.

2,999

3,419

Moelis

&

Co.,

Class

A(a)

5,946

404,328

Open

Lending

Corp.*(a)

9,668

60,908

P10,

Inc.,

Class

A

3,607

35,962

Common

Stocks

Shares

Value

($)

Capital

Markets

Patria

Investments

Ltd.,

Class

A

5,249

68,290

Perella

Weinberg

Partners,

Class

A

4,902

92,648

Piper

Sandler

Cos.

1,625

444,080

PJT

Partners,

Inc.,

Class

A(a)

2,259

300,311

Silvercrest

Asset

Management

Group,

Inc.,

Class

A

750

13,298

StepStone

Group,

Inc.,

Class

A(a)

4,971

249,843

StoneX

Group,

Inc.*

2,560

213,350

Value

Line,

Inc.

100

4,725

Victory

Capital

Holdings,

Inc.,

Class

A

3,836

200,968

Virtus

Investment

Partners,

Inc.

618

139,668

WisdomTree,

Inc.(a)

12,937

154,468

4,136,800

Chemicals

2

.0

%

AdvanSix,

Inc.

2,472

69,142

American

Vanguard

Corp.

2,482

23,877

Arcadium

Lithium

plc*

99,968

317,898

Arq,

Inc.*(a)

2,258

14,767

ASP

Isotopes,

Inc.*(a)

3,673

9,733

Aspen

Aerogels,

Inc.*(a)

5,376

109,724

Avient

Corp.

8,386

379,383

Balchem

Corp.

2,952

523,862

Cabot

Corp.

5,000

501,450

Core

Molding

Technologies,

Inc.*

718

13,247

Ecovyst,

Inc.*

10,651

101,611

Hawkins,

Inc.

1,794

186,397

HB

Fuller

Co.

5,119

441,258

Ingevity

Corp.*

3,401

156,072

Innospec,

Inc.

2,279

298,868

Intrepid

Potash,

Inc.*

920

24,003

Koppers

Holdings,

Inc.

1,949

79,344

Kronos

Worldwide,

Inc.(a)

2,146

25,666

LSB

Industries,

Inc.*

5,296

48,247

Mativ

Holdings,

Inc.

4,895

93,446

Minerals

Technologies,

Inc.

2,960

232,005

Northern

Technologies

International

Corp.(a)

679

8,942

Orion

SA

5,319

130,954

Perimeter

Solutions

SA*

12,137

117,607

PureCycle

Technologies,

Inc.*(a)

11,687

90,107

Quaker

Chemical

Corp.

1,292

234,588

Rayonier

Advanced

Materials,

Inc.*

5,855

38,936

Sensient

Technologies

Corp.

3,866

301,741

Stepan

Co.

2,004

169,598

Tronox

Holdings

plc

11,027

178,196

Valhi,

Inc.(a)

254

5,359

4,926,028

Commercial

Services

&

Supplies

1

.7

%

ABM

Industries,

Inc.

5,856

325,359

ACCO

Brands

Corp.

9,241

47,222

ACV

Auctions,

Inc.,

Class

A*(a)

13,649

233,125

80

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Commercial

Services

&

Supplies

Aris

Water

Solutions,

Inc.,

Class

A

2,431

43,053

Bridger

Aerospace

Group

Holdings,

Inc.*(a)

1,723

5,789

BrightView

Holdings,

Inc.*

4,130

59,431

Brink's

Co.

(The)

4,220

464,158

Casella

Waste

Systems,

Inc.,

Class

A*(a)

5,253

544,001

CECO

Environmental

Corp.*

2,737

79,920

Cimpress

plc*(a)

1,676

152,969

CompX

International,

Inc.

212

5,436

CoreCivic,

Inc.*

10,053

140,139

Deluxe

Corp.

4,184

102,006

Driven

Brands

Holdings,

Inc.*

5,512

74,081

Ennis,

Inc.

2,418

57,645

Enviri

Corp.*

7,630

90,187

GEO

Group,

Inc.

(The)*

11,525

167,113

Healthcare

Services

Group,

Inc.*(a)

7,132

81,519

HNI

Corp.

4,374

240,351

Interface,

Inc.,

Class

A(a)

5,473

94,573

LanzaTech

Global,

Inc.*(a)

10,161

18,391

Liquidity

Services,

Inc.*

1,825

41,008

Matthews

International

Corp.,

Class

A

2,696

78,049

MillerKnoll,

Inc.(a)

6,608

204,980

Montrose

Environmental

Group,

Inc.*

2,939

93,725

NL

Industries,

Inc.

865

5,527

OPENLANE,

Inc.*(a)

9,956

178,013

Perma-Fix

Environmental

Services,

Inc.*(a)

1,143

14,505

Pitney

Bowes,

Inc.

12,266

80,956

Quad/Graphics,

Inc.

2,252

10,292

Quest

Resource

Holding

Corp.*(a)

1,473

12,432

Steelcase,

Inc.,

Class

A

8,905

129,033

UniFirst

Corp.

1,391

270,605

Viad

Corp.*

1,911

63,541

Virco

Mfg.

Corp.

959

16,878

VSE

Corp.(a)

1,265

112,572

4,338,584

Communications

Equipment

0

.6

%

ADTRAN

Holdings,

Inc.

7,893

53,436

Applied

Optoelectronics,

Inc.*(a)

3,438

32,833

Aviat

Networks,

Inc.*(a)

956

29,636

Calix,

Inc.*

5,475

225,187

Clearfield,

Inc.*(a)

1,251

54,293

CommScope

Holding

Co.,

Inc.*

18,743

48,544

Digi

International,

Inc.*

3,323

90,718

Extreme

Networks,

Inc.*

11,583

165,637

Harmonic,

Inc.*

10,412

152,640

Infinera

Corp.*

18,818

111,779

NETGEAR,

Inc.*

2,809

44,607

NetScout

Systems,

Inc.*

6,458

131,420

Ribbon

Communications,

Inc.*

9,311

31,564

Viasat,

Inc.*

11,187

226,201

Viavi

Solutions,

Inc.*(a)

20,377

163,831

1,562,326

Common

Stocks

Shares

Value

($)

Construction

&

Engineering

1

.5

%

Ameresco,

Inc.,

Class

A*(a)

2,992

94,457

Arcosa,

Inc.

4,466

414,936

Argan,

Inc.

1,186

93,611

Bowman

Consulting

Group

Ltd.,

Class

A*(a)

1,213

43,328

Centuri

Holdings,

Inc.*

1,270

20,968

Concrete

Pumping

Holdings,

Inc.*

1,916

12,780

Construction

Partners,

Inc.,

Class

A*(a)

3,930

254,074

Dycom

Industries,

Inc.*

2,662

488,504

Fluor

Corp.*(a)

15,754

757,767

Granite

Construction,

Inc.(a)

4,071

278,701

Great

Lakes

Dredge

&

Dock

Corp.*

6,040

56,957

IES

Holdings,

Inc.*

745

114,708

Limbach

Holdings,

Inc.*(a)

987

62,892

Matrix

Service

Co.*(a)

2,443

24,723

MYR

Group,

Inc.*(a)

1,531

215,075

Northwest

Pipe

Co.*

912

34,793

Orion

Group

Holdings,

Inc.*(a)

2,819

23,144

Primoris

Services

Corp.

4,914

277,493

Southland

Holdings,

Inc.*(a)

1,463

5,706

Sterling

Infrastructure,

Inc.*

2,792

324,877

Tutor

Perini

Corp.*(a)

4,003

99,635

3,699,129

Construction

Materials

0

.4

%

Knife

River

Corp.*

5,349

425,353

Smith-Midland

Corp.*

404

14,027

Summit

Materials,

Inc.,

Class

A*

11,212

468,437

United

States

Lime

&

Minerals,

Inc.

980

83,349

991,166

Consumer

Finance

0

.8

%

Atlanticus

Holdings

Corp.*(a)

414

14,809

Bread

Financial

Holdings,

Inc.

2,664

145,401

Consumer

Portfolio

Services,

Inc.*(a)

1,041

9,848

Encore

Capital

Group,

Inc.*(a)

2,222

112,322

Enova

International,

Inc.*

2,466

213,235

FirstCash

Holdings,

Inc.

3,616

403,545

Green

Dot

Corp.,

Class

A*

3,766

36,003

LendingClub

Corp.*

10,572

132,256

LendingTree,

Inc.*

960

51,091

Medallion

Financial

Corp.(a)

1,885

15,627

Moneylion,

Inc.*(a)

789

54,378

Navient

Corp.

7,780

127,670

Nelnet,

Inc.,

Class

A

1,354

152,609

NerdWallet,

Inc.,

Class

A*

3,594

52,580

OppFi,

Inc.(a)

1,472

5,682

PRA

Group,

Inc.*

3,774

100,577

PROG

Holdings,

Inc.

3,954

178,167

Regional

Management

Corp.

706

23,086

Upstart

Holdings,

Inc.*(a)

7,128

199,085

World

Acceptance

Corp.*

322

39,323

2,067,294

Consumer

Staples

Distribution

&

Retail

0

.8

%

Andersons,

Inc.

(The)

3,029

165,172

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

81

Common

Stocks

Shares

Value

($)

Consumer

Staples

Distribution

&

Retail

Chefs'

Warehouse,

Inc.

(The)*(a)

3,234

134,502

HF

Foods

Group,

Inc.*(a)

3,603

14,376

Ingles

Markets,

Inc.,

Class

A

1,353

109,661

Natural

Grocers

by

Vitamin

Cottage,

Inc.

867

23,652

PriceSmart,

Inc.

2,307

210,698

SpartanNash

Co.

3,168

66,908

Sprouts

Farmers

Market,

Inc.*

9,318

930,775

United

Natural

Foods,

Inc.*

5,182

80,321

Village

Super

Market,

Inc.,

Class

A

852

26,991

Weis

Markets,

Inc.(a)

1,527

115,212

1,878,268

Containers

&

Packaging

0

.3

%

Ardagh

Metal

Packaging

SA

13,235

48,705

Greif,

Inc.,

Class

A

2,367

157,831

Greif,

Inc.,

Class

B

419

29,611

Myers

Industries,

Inc.

3,210

47,829

O-I

Glass,

Inc.*

14,427

192,745

Pactiv

Evergreen,

Inc.

3,654

48,014

Ranpak

Holdings

Corp.,

Class

A*

4,147

29,941

TriMas

Corp.

3,666

90,110

644,786

Distributors

0

.1

%

A-Mark

Precious

Metals,

Inc.

(a)

1,696

65,194

GigaCloud

Technology,

Inc.,

Class

A*(a)

2,165

63,716

Weyco

Group,

Inc.

466

16,222

145,132

Diversified

Consumer

Services

0

.9

%

Adtalem

Global

Education,

Inc.*

3,620

283,844

American

Public

Education,

Inc.*

1,439

28,722

Carriage

Services,

Inc.,

Class

A

1,147

36,773

Chegg,

Inc.*

10,415

35,515

Coursera,

Inc.*

12,704

118,147

European

Wax

Center,

Inc.,

Class

A*(a)

3,396

31,888

Frontdoor,

Inc.*

7,251

286,125

Graham

Holdings

Co.,

Class

B

308

238,654

Laureate

Education,

Inc.

12,346

191,363

Lincoln

Educational

Services

Corp.*

2,241

31,621

Mister

Car

Wash,

Inc.*

8,540

64,904

Nerdy,

Inc.*(a)

6,145

10,631

OneSpaWorld

Holdings

Ltd.*

9,281

149,331

Perdoceo

Education

Corp.

5,909

146,484

Strategic

Education,

Inc.

2,075

218,705

Stride,

Inc.*

3,922

297,994

Udemy,

Inc.*

8,812

81,423

Universal

Technical

Institute,

Inc.*

3,778

71,555

2,323,679

Diversified

REITs

0

.6

%

Alexander

&

Baldwin,

Inc.

7,033

138,620

Common

Stocks

Shares

Value

($)

Diversified

REITs

Alpine

Income

Property

Trust,

Inc.

1,233

21,417

American

Assets

Trust,

Inc.

4,460

118,279

Armada

Hoffler

Properties,

Inc.

6,373

75,711

Broadstone

Net

Lease,

Inc.

17,581

306,085

CTO

Realty

Growth,

Inc.

2,215

44,455

Empire

State

Realty

Trust,

Inc.,

Class

A

12,567

135,347

Essential

Properties

Realty

Trust,

Inc.

16,183

478,855

Gladstone

Commercial

Corp.

3,638

54,752

Global

Net

Lease,

Inc.

18,213

158,453

One

Liberty

Properties,

Inc.

1,527

40,298

1,572,272

Diversified

Telecommunication

Services

0

.5

%

Anterix,

Inc.*

1,185

47,708

AST

SpaceMobile,

Inc.,

Class

A*(a)

10,868

224,750

ATN

International,

Inc.

1,053

31,243

Bandwidth,

Inc.,

Class

A*

2,273

51,870

Cogent

Communications

Holdings,

Inc.

4,054

286,172

Consolidated

Communications

Holdings,

Inc.*

6,909

31,781

Globalstar,

Inc.*(a)

68,058

82,350

IDT

Corp.,

Class

B

1,317

50,349

Liberty

Latin

America

Ltd.,

Class

A*

2,442

25,592

Liberty

Latin

America

Ltd.,

Class

C*(a)

13,113

138,998

Lumen

Technologies,

Inc.*(a)

94,246

296,875

Shenandoah

Telecommunications

Co.

4,671

99,446

1,367,134

Electric

Utilities

0

.8

%

ALLETE,

Inc.

5,387

347,462

Genie

Energy

Ltd.,

Class

B

1,497

25,389

Hawaiian

Electric

Industries,

Inc.(a)

10,297

170,518

MGE

Energy,

Inc.(a)

3,356

294,791

Otter

Tail

Corp.(a)

3,833

371,495

PNM

Resources,

Inc.

8,309

345,488

Portland

General

Electric

Co.(a)

9,426

446,604

2,001,747

Electrical

Equipment

1

.4

%

Allient,

Inc.

1,253

36,262

American

Superconductor

Corp.*

3,143

75,935

Amprius

Technologies,

Inc.*(a)

728

874

Array

Technologies,

Inc.*(a)

14,067

147,985

Atkore,

Inc.(a)

3,389

457,515

Blink

Charging

Co.*(a)

8,891

29,251

Bloom

Energy

Corp.,

Class

A*(a)

18,347

248,418

ChargePoint

Holdings,

Inc.*(a)

35,723

77,519

Energy

Vault

Holdings,

Inc.*(a)

7,389

7,537

EnerSys

3,706

407,401

Enovix

Corp.*(a)

13,711

197,575

Fluence

Energy,

Inc.*(a)

5,640

92,383

82

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Electrical

Equipment

Freyr

Battery,

Inc.*(a)

10,194

18,349

FuelCell

Energy,

Inc.*(a)

40,016

20,264

GrafTech

International

Ltd.*(a)

24,802

19,050

LSI

Industries,

Inc.

2,476

42,241

Net

Power,

Inc.*(a)

1,885

18,021

NEXTracker,

Inc.,

Class

A*

10,773

529,385

NuScale

Power

Corp.,

Class

A*(a)

7,148

73,053

Plug

Power,

Inc.*(a)

58,211

143,781

Powell

Industries,

Inc.(a)

862

158,289

Preformed

Line

Products

Co.

208

28,677

SES

AI

Corp.*(a)

11,816

14,534

Shoals

Technologies

Group,

Inc.,

Class

A*(a)

16,011

104,071

Stem,

Inc.*(a)

13,663

16,669

SunPower

Corp.*(a)

8,266

7,055

Sunrun,

Inc.*(a)

20,145

353,142

Thermon

Group

Holdings,

Inc.*

3,132

102,761

TPI

Composites,

Inc.*

4,179

17,802

Ultralife

Corp.*

896

10,734

Vicor

Corp.*

2,102

88,515

3,545,048

Electronic

Equipment,

Instruments

&

Components

3

.0

%

908

Devices,

Inc.*(a)

2,661

15,141

Advanced

Energy

Industries,

Inc.

3,441

400,429

Aeva

Technologies,

Inc.*(a)

3,542

12,858

Arlo

Technologies,

Inc.*(a)

8,774

133,014

Badger

Meter,

Inc.

2,705

557,663

Bel

Fuse,

Inc.,

Class

A

123

11,531

Bel

Fuse,

Inc.,

Class

B

998

74,122

Belden,

Inc.

3,749

347,495

Benchmark

Electronics,

Inc.

3,308

158,354

Climb

Global

Solutions,

Inc.

393

28,068

CTS

Corp.

2,753

134,567

Daktronics,

Inc.*

3,715

55,651

ePlus,

Inc.*

2,457

225,847

Evolv

Technologies

Holdings,

Inc.*(a)

12,964

44,985

Fabrinet*

3,393

748,360

FARO

Technologies,

Inc.*

1,740

29,754

Insight

Enterprises,

Inc.*

2,590

581,455

Iteris,

Inc.*

4,042

19,846

Itron,

Inc.*

4,240

438,586

Kimball

Electronics,

Inc.*(a)

2,321

55,008

Knowles

Corp.*

8,098

147,950

Lightwave

Logic,

Inc.*(a)

10,788

37,327

Methode

Electronics,

Inc.

3,138

39,727

MicroVision,

Inc.*(a)

17,123

18,322

Mirion

Technologies,

Inc.,

Class

A*

18,417

194,115

Motomova,

Inc.*^∞

1,500

0

Napco

Security

Technologies,

Inc.(a)

3,239

180,769

nLight,

Inc.*(a)

4,132

49,873

Novanta,

Inc.*

3,298

597,532

OSI

Systems,

Inc.*

1,486

219,898

Ouster,

Inc.*

4,001

52,533

PAR

Technology

Corp.*(a)

3,106

157,288

PC

Connection,

Inc.

1,124

80,445

Plexus

Corp.*

2,514

322,219

Common

Stocks

Shares

Value

($)

Electronic

Equipment,

Instruments

&

Components

Powerfleet,

Inc.

NJ*(a)

8,426

38,170

Richardson

Electronics

Ltd.

1,133

13,562

Rogers

Corp.*

1,723

210,516

Sanmina

Corp.*

5,164

389,004

ScanSource,

Inc.*(a)

2,368

123,254

SmartRent,

Inc.,

Class

A*

17,442

32,093

TTM

Technologies,

Inc.*

9,285

179,943

Vishay

Intertechnology,

Inc.(a)

11,933

290,091

Vishay

Precision

Group,

Inc.*

1,184

40,599

7,487,964

Energy

Equipment

&

Services

2

.7

%

Archrock,

Inc.

14,616

302,990

Atlas

Energy

Solutions,

Inc.,

Class

A(a)

6,257

132,899

Borr

Drilling

Ltd.(a)

21,806

149,371

Bristow

Group,

Inc.,

Class

A*

2,382

90,397

Cactus,

Inc.,

Class

A(a)

6,031

380,677

ChampionX

Corp.

17,627

603,901

Core

Laboratories,

Inc.(a)

4,414

108,099

Diamond

Offshore

Drilling,

Inc.*

9,413

154,561

DMC

Global,

Inc.*

1,761

23,773

Drilling

Tools

International

Corp.*

1,265

7,236

Dril-Quip,

Inc.*(a)

3,111

53,883

Expro

Group

Holdings

NV*

8,742

202,989

Forum

Energy

Technologies,

Inc.*(a)

928

17,122

Geospace

Technologies

Corp.*(a)

1,128

10,524

Helix

Energy

Solutions

Group,

Inc.*(a)

13,375

157,825

Helmerich

&

Payne,

Inc.

8,981

363,012

Kodiak

Gas

Services,

Inc.(a)

1,894

54,642

Liberty

Energy,

Inc.,

Class

A(a)

14,914

360,173

Mammoth

Energy

Services,

Inc.*(a)

2,127

8,551

Nabors

Industries

Ltd.*(a)

826

84,938

Natural

Gas

Services

Group,

Inc.*

968

19,708

Newpark

Resources,

Inc.*

8,023

66,270

Noble

Corp.

plc(a)

10,547

498,029

Oceaneering

International,

Inc.*(a)

9,373

281,377

Oil

States

International,

Inc.*

6,072

34,732

Patterson-UTI

Energy,

Inc.

36,770

404,102

ProFrac

Holding

Corp.,

Class

A*(a)

2,187

20,317

ProPetro

Holding

Corp.*(a)

8,506

81,573

Ranger

Energy

Services,

Inc.,

Class

A(a)

1,477

19,157

RPC,

Inc.(a)

7,602

56,787

SEACOR

Marine

Holdings,

Inc.*

2,282

31,629

Seadrill

Ltd.*

6,880

378,469

Select

Water

Solutions,

Inc.,

Class

A

8,437

99,725

Solaris

Oilfield

Infrastructure,

Inc.,

Class

A

2,081

27,365

TETRA

Technologies,

Inc.*(a)

11,629

43,376

Tidewater,

Inc.*

4,501

445,419

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

83

Common

Stocks

Shares

Value

($)

Energy

Equipment

&

Services

Transocean

Ltd.*(a)

67,352

389,968

US

Silica

Holdings,

Inc.*

7,071

109,530

Valaris

Ltd.*(a)

5,772

453,621

6,728,717

Entertainment

0

.5

%

AMC

Entertainment

Holdings,

Inc.,

Class

A*

25,674

136,329

Atlanta

Braves

Holdings,

Inc.,

Class

A*

911

41,833

Atlanta

Braves

Holdings,

Inc.,

Class

C*

4,627

200,951

Cinemark

Holdings,

Inc.*(a)

10,188

240,233

Eventbrite,

Inc.,

Class

A*(a)

7,312

35,756

Golden

Matrix

Group,

Inc.*(a)

2,722

6,070

IMAX

Corp.*(a)

4,062

85,708

Lions

Gate

Entertainment

Corp.,

Class

A*(a)

6,209

56,936

Lions

Gate

Entertainment

Corp.,

Class

B*

10,678

87,987

LiveOne,

Inc.*(a)

6,124

10,411

Madison

Square

Garden

Entertainment

Corp.,

Class

A*

3,472

137,109

Marcus

Corp.

(The)

2,314

29,133

Playstudios,

Inc.*

8,493

18,430

Reservoir

Media,

Inc.*

1,940

15,442

Sphere

Entertainment

Co.*

2,511

111,689

Vivid

Seats,

Inc.,

Class

A*

7,646

37,313

1,251,330

Financial

Services

2

.7

%

Acacia

Research

Corp.*(a)

3,597

19,244

Alerus

Financial

Corp.

1,845

41,420

AvidXchange

Holdings,

Inc.*(a)

16,170

144,560

Banco

Latinoamericano

de

Comercio

Exterior

SA,

Class

E

2,539

82,086

Burford

Capital

Ltd.(a)

18,472

260,640

Cannae

Holdings,

Inc.

5,330

107,186

Cantaloupe,

Inc.*(a)

5,521

43,009

Cass

Information

Systems,

Inc.

1,246

53,503

Compass

Diversified

Holdings

6,189

148,907

Enact

Holdings,

Inc.

2,850

96,985

Essent

Group

Ltd.

9,657

606,846

EVERTEC,

Inc.

5,858

201,925

Federal

Agricultural

Mortgage

Corp.,

Class

C(a)

856

176,524

Flywire

Corp.*

11,183

204,761

HA

Sustainable

Infrastructure

Capital,

Inc.(a)

10,393

340,579

I3

Verticals,

Inc.,

Class

A*(a)

2,274

55,736

International

Money

Express,

Inc.*

2,941

65,320

Jackson

Financial,

Inc.,

Class

A

7,039

619,854

Marqeta,

Inc.,

Class

A*

43,240

233,064

Merchants

Bancorp

1,627

73,215

Mr.

Cooper

Group,

Inc.*

5,951

534,876

NCR

Atleos

Corp.*

6,682

214,826

NewtekOne,

Inc.

2,206

30,862

Common

Stocks

Shares

Value

($)

Financial

Services

NMI

Holdings,

Inc.,

Class

A*

7,378

290,324

Onity

Group,

Inc.*

608

17,772

Pagseguro

Digital

Ltd.,

Class

A*

17,482

223,420

Payoneer

Global,

Inc.*

24,193

133,787

Paysafe

Ltd.*(a)

2,891

60,682

Paysign,

Inc.*

3,090

16,470

PennyMac

Financial

Services,

Inc.(a)

2,516

246,870

Priority

Technology

Holdings,

Inc.*(a)

1,943

11,522

Radian

Group,

Inc.(a)

13,539

502,297

Remitly

Global,

Inc.*

13,429

177,397

Repay

Holdings

Corp.,

Class

A*(a)

8,415

80,952

Sezzle,

Inc.*(a)

219

19,154

StoneCo

Ltd.,

Class

A*

26,496

347,627

SWK

Holdings

Corp.*

383

6,745

Velocity

Financial,

Inc.*(a)

813

15,390

Walker

&

Dunlop,

Inc.(a)

3,007

321,448

Waterstone

Financial,

Inc.

1,406

20,978

6,848,763

Food

Products

1

.0

%

Alico,

Inc.

645

18,995

B&G

Foods,

Inc.(a)

7,416

63,926

Beyond

Meat,

Inc.*(a)

5,414

34,000

BRC,

Inc.,

Class

A*(a)

4,769

27,231

Calavo

Growers,

Inc.(a)

1,637

38,944

Cal-Maine

Foods,

Inc.

3,892

278,550

Dole

plc

6,951

103,222

Forafric

Global

plc*(a)

591

6,932

Fresh

Del

Monte

Produce,

Inc.

3,257

81,588

Hain

Celestial

Group,

Inc.

(The)*(a)

8,272

64,025

J

&

J

Snack

Foods

Corp.

1,400

236,180

John

B

Sanfilippo

&

Son,

Inc.

834

87,462

Lancaster

Colony

Corp.

1,793

346,157

Lifeway

Foods,

Inc.*

595

7,336

Limoneira

Co.(a)

1,657

36,520

Mama's

Creations,

Inc.*(a)

2,957

22,532

Mission

Produce,

Inc.*

3,622

40,711

Seneca

Foods

Corp.,

Class

A*

529

31,920

Simply

Good

Foods

Co.

(The)*(a)

8,389

284,555

SunOpta,

Inc.*

8,535

45,236

TreeHouse

Foods,

Inc.*

4,574

184,241

Utz

Brands,

Inc.

6,025

89,411

Vital

Farms,

Inc.*

3,069

111,988

Westrock

Coffee

Co.*(a)

2,688

26,611

Whole

Earth

Brands,

Inc.*

2,894

14,094

WK

Kellogg

Co.

6,041

106,322

2,388,689

Gas

Utilities

0

.9

%

Brookfield

Infrastructure

Corp.,

Class

A

11,079

430,973

Chesapeake

Utilities

Corp.

2,029

239,483

New

Jersey

Resources

Corp.

9,068

423,929

Northwest

Natural

Holding

Co.

3,528

141,050

ONE

Gas,

Inc.(a)

5,218

363,329

RGC

Resources,

Inc.

758

17,063

84

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Gas

Utilities

Southwest

Gas

Holdings,

Inc.

(a)

5,637

418,040

Spire,

Inc.

5,021

334,348

2,368,215

Ground

Transportation

0

.5

%

ArcBest

Corp.

2,177

274,411

Covenant

Logistics

Group,

Inc.,

Class

A

806

45,096

FTAI

Infrastructure,

Inc.(a)

9,284

95,718

Heartland

Express,

Inc.(a)

4,265

55,317

Hertz

Global

Holdings,

Inc.*(a)

11,452

46,724

Marten

Transport

Ltd.

5,196

97,737

PAM

Transportation

Services,

Inc.*

683

13,926

RXO,

Inc.*

10,743

340,660

Universal

Logistics

Holdings,

Inc.(a)

692

29,777

Werner

Enterprises,

Inc.

5,841

228,909

1,228,275

Health

Care

Equipment

&

Supplies

3

.2

%

Accuray,

Inc.*

8,826

16,240

Alphatec

Holdings,

Inc.*

9,453

95,475

AngioDynamics,

Inc.*

3,507

27,495

Artivion,

Inc.*(a)

3,603

97,821

AtriCure,

Inc.*(a)

4,458

96,159

Atrion

Corp.

132

60,496

Avanos

Medical,

Inc.*

4,251

101,684

Axogen,

Inc.*(a)

3,771

33,109

Axonics,

Inc.*

4,695

321,514

Bioventus,

Inc.,

Class

A*(a)

3,346

23,455

Cerus

Corp.*(a)

15,938

36,020

CONMED

Corp.(a)

2,852

196,902

CVRx,

Inc.*(a)

1,052

8,995

Embecta

Corp.

5,621

88,081

Fractyl

Health,

Inc.*(a)

1,548

4,938

Glaukos

Corp.*

4,513

528,788

Haemonetics

Corp.*(a)

4,622

416,211

ICU

Medical,

Inc.*

1,974

250,659

Inari

Medical,

Inc.*

4,933

229,680

Inmode

Ltd.*(a)

7,337

132,946

Inogen,

Inc.*(a)

2,418

22,367

Integer

Holdings

Corp.*(a)

3,074

365,068

Integra

LifeSciences

Holdings

Corp.*

6,308

156,501

iRadimed

Corp.

750

35,033

iRhythm

Technologies,

Inc.*(a)

2,882

248,572

Lantheus

Holdings,

Inc.*

6,265

656,760

LeMaitre

Vascular,

Inc.(a)

1,864

161,963

LivaNova

plc*

5,044

249,174

Merit

Medical

Systems,

Inc.*

5,261

448,711

Neogen

Corp.*(a)

20,093

342,184

NeuroPace,

Inc.*

1,227

9,485

Nevro

Corp.*(a)

3,143

31,210

Novocure

Ltd.*(a)

9,835

223,943

Omnicell,

Inc.*

4,312

125,954

OraSure

Technologies,

Inc.*

7,547

33,811

Orchestra

BioMed

Holdings,

Inc.*

2,064

15,232

Orthofix

Medical,

Inc.*

3,217

51,729

OrthoPediatrics

Corp.*(a)

1,492

45,924

Paragon

28,

Inc.*(a)

4,126

32,142

Common

Stocks

Shares

Value

($)

Health

Care

Equipment

&

Supplies

PROCEPT

BioRobotics

Corp.*(a)

3,897

246,758

Pulmonx

Corp.*

3,424

23,660

Pulse

Biosciences,

Inc.*(a)

1,693

25,327

RxSight,

Inc.*

3,144

143,901

Sanara

Medtech,

Inc.*(a)

359

11,449

Semler

Scientific,

Inc.*(a)

503

16,674

SI-BONE,

Inc.*(a)

3,640

55,328

Sight

Sciences,

Inc.*

3,207

24,950

Silk

Road

Medical,

Inc.*

3,590

96,966

STAAR

Surgical

Co.*(a)

4,589

189,296

Stereotaxis,

Inc.*(a)

4,929

9,858

Surmodics,

Inc.*

1,282

53,075

Tactile

Systems

Technology,

Inc.*(a)

2,210

28,222

Tandem

Diabetes

Care,

Inc.*

5,976

220,992

TransMedics

Group,

Inc.*

3,010

428,203

Treace

Medical

Concepts,

Inc.*

4,944

35,745

UFP

Technologies,

Inc.*(a)

668

214,822

Utah

Medical

Products,

Inc.

343

23,873

Varex

Imaging

Corp.*(a)

3,332

49,280

Zimvie,

Inc.*

2,445

51,687

Zynex,

Inc.*(a)

1,462

13,158

7,985,655

Health

Care

Providers

&

Services

2

.9

%

Accolade,

Inc.*

7,358

30,168

AdaptHealth

Corp.,

Class

A*

9,376

106,511

Addus

HomeCare

Corp.*

1,436

174,273

agilon

health,

Inc.*(a)

28,405

195,711

AirSculpt

Technologies,

Inc.*(a)

871

4,329

Alignment

Healthcare,

Inc.*

9,211

80,504

AMN

Healthcare

Services,

Inc.*

3,532

238,834

Astrana

Health,

Inc.*

4,016

210,679

Aveanna

Healthcare

Holdings,

Inc.*

5,847

24,616

BrightSpring

Health

Services,

Inc.*(a)

5,015

62,136

Brookdale

Senior

Living,

Inc.*

17,621

136,210

Castle

Biosciences,

Inc.*

2,387

57,598

Community

Health

Systems,

Inc.*(a)

12,299

64,693

CorVel

Corp.*

810

248,508

Cross

Country

Healthcare,

Inc.*

2,937

53,571

DocGo,

Inc.*(a)

9,341

33,908

Enhabit,

Inc.*

4,892

50,094

Ensign

Group,

Inc.

(The)

5,103

718,247

Fulgent

Genetics,

Inc.*

1,746

41,782

GeneDx

Holdings

Corp.,

Class

A*

1,110

36,319

Guardant

Health,

Inc.*

10,885

382,390

HealthEquity,

Inc.*

7,821

613,792

Hims

&

Hers

Health,

Inc.*

17,498

371,658

InfuSystem

Holdings,

Inc.*

1,719

11,861

Innovage

Holding

Corp.*(a)

1,737

10,908

Joint

Corp.

(The)*

810

11,680

LifeStance

Health

Group,

Inc.*(a)

10,981

60,505

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

85

Common

Stocks

Shares

Value

($)

Health

Care

Providers

&

Services

ModivCare,

Inc.*(a)

1,124

25,650

Nano-X

Imaging

Ltd.*(a)

5,153

44,419

National

HealthCare

Corp.

1,165

158,626

National

Research

Corp.(a)

1,459

37,190

NeoGenomics,

Inc.*

11,906

211,093

OPKO

Health,

Inc.*(a)

29,016

41,203

Option

Care

Health,

Inc.*

16,021

475,664

Owens

&

Minor,

Inc.*

6,970

114,447

PACS

Group,

Inc.*

2,235

80,013

Patterson

Cos.,

Inc.

7,505

189,501

Pediatrix

Medical

Group,

Inc.*

7,793

64,994

Pennant

Group,

Inc.

(The)*

2,726

81,262

Performant

Financial

Corp.*(a)

6,368

23,625

PetIQ,

Inc.,

Class

A*

2,580

56,451

Privia

Health

Group,

Inc.*

9,337

193,649

Progyny,

Inc.*

7,760

218,832

Quipt

Home

Medical

Corp.*

3,819

14,741

RadNet,

Inc.*

6,105

364,774

Select

Medical

Holdings

Corp.

9,848

391,557

Sonida

Senior

Living,

Inc.*(a)

306

9,881

Surgery

Partners,

Inc.*(a)

7,087

215,161

Talkspace,

Inc.*(a)

11,294

22,701

US

Physical

Therapy,

Inc.

1,412

137,670

Viemed

Healthcare,

Inc.*

3,230

23,288

7,227,877

Health

Care

REITs

0

.6

%

American

Healthcare

REIT,

Inc.

6,074

96,819

CareTrust

REIT,

Inc.

12,502

337,054

Community

Healthcare

Trust,

Inc.

2,417

52,594

Diversified

Healthcare

Trust

20,523

68,547

Global

Medical

REIT,

Inc.

5,727

54,693

LTC

Properties,

Inc.

4,045

144,447

National

Health

Investors,

Inc.

3,906

292,403

Sabra

Health

Care

REIT,

Inc.

21,547

349,708

Strawberry

Fields

REIT,

Inc.

638

7,318

Universal

Health

Realty

Income

Trust

1,227

52,454

1,456,037

Health

Care

Technology

0

.3

%

Definitive

Healthcare

Corp.,

Class

A*(a)

5,573

21,735

Evolent

Health,

Inc.,

Class

A*

10,647

248,288

Health

Catalyst,

Inc.*

5,964

43,955

HealthStream,

Inc.(a)

2,210

65,659

LifeMD,

Inc.*(a)

3,316

23,643

OptimizeRx

Corp.*

1,847

20,151

Phreesia,

Inc.*

4,710

117,514

Schrodinger,

Inc.*(a)

5,237

116,680

Simulations

Plus,

Inc.(a)

1,445

59,014

Teladoc

Health,

Inc.*

15,752

148,541

865,180

Hotel

&

Resort

REITs

0

.7

%

Apple

Hospitality

REIT,

Inc.

21,398

316,477

Braemar

Hotels

&

Resorts,

Inc.

6,937

24,626

Chatham

Lodging

Trust

4,365

38,368

DiamondRock

Hospitality

Co.

19,717

162,271

Pebblebrook

Hotel

Trust

11,026

150,946

RLJ

Lodging

Trust

14,369

135,643

Common

Stocks

Shares

Value

($)

Hotel

&

Resort

REITs

Ryman

Hospitality

Properties,

Inc.

5,447

547,478

Service

Properties

Trust

16,019

90,828

Summit

Hotel

Properties,

Inc.

9,803

62,151

Sunstone

Hotel

Investors,

Inc.

19,072

197,586

Xenia

Hotels

&

Resorts,

Inc.

9,359

129,903

1,856,277

Hotels,

Restaurants

&

Leisure

1

.7

%

Accel

Entertainment,

Inc.,

Class

A*

4,806

58,633

Bally's

Corp.*

2,183

37,613

Biglari

Holdings,

Inc.,

Class

B*

64

12,848

BJ's

Restaurants,

Inc.*

1,714

54,128

Bloomin'

Brands,

Inc.(a)

7,389

154,061

Brinker

International,

Inc.*(a)

4,076

272,318

Cheesecake

Factory,

Inc.

(The)(a)

4,475

174,033

Chuy's

Holdings,

Inc.*

1,577

58,491

Cracker

Barrel

Old

Country

Store,

Inc.(a)

1,995

91,431

Dave

&

Buster's

Entertainment,

Inc.*

2,980

112,078

Denny's

Corp.*

4,714

34,695

Despegar.com

Corp.*(a)

5,661

65,781

Dine

Brands

Global,

Inc.(a)

1,510

54,118

El

Pollo

Loco

Holdings,

Inc.*

2,709

32,670

Empire

Resorts,

Inc.*^∞

618

0

Everi

Holdings,

Inc.*

7,718

99,331

First

Watch

Restaurant

Group,

Inc.*(a)

2,764

44,970

Full

House

Resorts,

Inc.*(a)

3,100

17,453

Global

Business

Travel

Group

I*

11,285

75,835

Golden

Entertainment,

Inc.

1,845

61,678

Hilton

Grand

Vacations,

Inc.*

6,787

293,266

Inspired

Entertainment,

Inc.*

1,870

17,260

International

Game

Technology

plc

10,505

246,552

Jack

in

the

Box,

Inc.(a)

1,834

109,013

Krispy

Kreme,

Inc.(a)

7,842

83,360

Kura

Sushi

USA,

Inc.,

Class

A*(a)

567

32,597

Life

Time

Group

Holdings,

Inc.*(a)

5,447

113,134

Lindblad

Expeditions

Holdings,

Inc.*

3,472

29,894

Monarch

Casino

&

Resort,

Inc.

1,225

95,893

Mondee

Holdings,

Inc.,

Class

A*

4,267

12,758

Nathan's

Famous,

Inc.

267

20,038

ONE

Group

Hospitality,

Inc.

(The)*(a)

1,852

9,390

Papa

John's

International,

Inc.

3,066

135,609

PlayAGS,

Inc.*

3,495

40,018

Portillo's,

Inc.,

Class

A*(a)

4,953

51,313

Potbelly

Corp.*

2,317

16,914

RCI

Hospitality

Holdings,

Inc.

762

37,704

Red

Rock

Resorts,

Inc.,

Class

A

4,546

259,122

Rush

Street

Interactive,

Inc.*

7,004

70,110

Sabre

Corp.*(a)

34,741

119,162

86

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Hotels,

Restaurants

&

Leisure

Shake

Shack,

Inc.,

Class

A*

3,509

307,459

Six

Flags

Entertainment

Corp.

3,926

186,995

Super

Group

SGHC

Ltd.(a)

13,631

52,207

Sweetgreen,

Inc.,

Class

A*

9,115

250,480

Target

Hospitality

Corp.*

3,166

29,634

United

Parks

&

Resorts,

Inc.*(a)

3,275

172,429

Vacasa,

Inc.,

Class

A*(a)

1,570

6,500

Xponential

Fitness,

Inc.,

Class

A*(a)

2,315

39,749

4,350,725

Household

Durables

2

.4

%

Beazer

Homes

USA,

Inc.*

2,752

92,660

Cavco

Industries,

Inc.*(a)

765

317,184

Century

Communities,

Inc.

2,655

278,005

Cricut,

Inc.,

Class

A(a)

4,527

28,113

Dream

Finders

Homes,

Inc.,

Class

A*

2,568

81,020

Ethan

Allen

Interiors,

Inc.(a)

2,056

63,469

Flexsteel

Industries,

Inc.(a)

417

15,825

GoPro,

Inc.,

Class

A*

12,312

18,714

Green

Brick

Partners,

Inc.*

2,883

210,891

Hamilton

Beach

Brands

Holding

Co.,

Class

A

777

15,175

Helen

of

Troy

Ltd.*(a)

2,198

129,924

Hooker

Furnishings

Corp.

1,040

15,881

Hovnanian

Enterprises,

Inc.,

Class

A*

471

98,858

Installed

Building

Products,

Inc.(a)

2,212

598,014

iRobot

Corp.*

2,486

29,310

KB

Home

6,227

536,020

Landsea

Homes

Corp.*

1,781

21,693

La-Z-Boy,

Inc.(a)

4,039

178,281

Legacy

Housing

Corp.*

895

25,490

LGI

Homes,

Inc.*

1,922

221,165

Lifetime

Brands,

Inc.

1,152

9,953

Lovesac

Co.

(The)*(a)

1,259

34,446

M/I

Homes,

Inc.*

2,497

416,575

Meritage

Homes

Corp.

3,311

671,703

Purple

Innovation,

Inc.,

Class

A*(a)

5,433

7,498

Skyline

Champion

Corp.*

4,934

402,170

Sonos,

Inc.*

11,408

154,008

Taylor

Morrison

Home

Corp.,

Class

A*

9,735

653,024

Traeger,

Inc.*

3,642

8,886

Tri

Pointe

Homes,

Inc.*

8,576

388,064

United

Homes

Group,

Inc.*(a)

950

5,899

Vizio

Holding

Corp.,

Class

A*(a)

8,215

90,201

Worthington

Enterprises,

Inc.

2,921

145,787

5,963,906

Household

Products

0

.3

%

Central

Garden

&

Pet

Co.*(a)

898

35,776

Central

Garden

&

Pet

Co.,

Class

A*

4,767

163,794

Energizer

Holdings,

Inc.

6,642

204,507

Oil-Dri

Corp.

of

America

475

30,923

Common

Stocks

Shares

Value

($)

Household

Products

WD-40

Co.

1,250

327,013

762,013

Independent

Power

and

Renewable

Electricity

Producers

0

.2

%

Altus

Power,

Inc.,

Class

A*(a)

7,789

32,714

Montauk

Renewables,

Inc.*

5,920

35,165

Ormat

Technologies,

Inc.(a)

4,970

385,871

Sunnova

Energy

International,

Inc.*(a)

10,505

74,270

528,020

Industrial

Conglomerates

0

.0

%

†

Brookfield

Business

Corp.,

Class

A

2,557

57,660

Industrial

REITs

0

.5

%

Industrial

Logistics

Properties

Trust

6,004

30,861

Innovative

Industrial

Properties,

Inc.

2,621

321,885

LXP

Industrial

Trust

27,027

278,378

Plymouth

Industrial

REIT,

Inc.

4,066

97,259

Terreno

Realty

Corp.

8,811

602,760

1,331,143

Insurance

1

.8

%

Ambac

Financial

Group,

Inc.*

4,156

54,818

American

Coastal

Insurance

Corp.*(a)

2,494

30,452

AMERISAFE,

Inc.

1,853

87,980

Baldwin

Insurance

Group,

Inc.

(The),

Class

A*

6,084

266,114

CNO

Financial

Group,

Inc.

10,230

356,618

Crawford

&

Co.,

Class

A(a)

1,816

17,779

Donegal

Group,

Inc.,

Class

A(a)

1,421

20,931

Employers

Holdings,

Inc.

2,066

99,189

Enstar

Group

Ltd.*

1,174

380,846

F&G

Annuities

&

Life,

Inc.

1,624

70,043

Fidelis

Insurance

Holdings

Ltd.

4,504

80,126

Genworth

Financial,

Inc.,

Class

A*

39,037

264,281

GoHealth,

Inc.,

Class

A*

371

4,868

Goosehead

Insurance,

Inc.,

Class

A*(a)

2,168

195,749

Greenlight

Capital

Re

Ltd.,

Class

A*(a)

2,783

38,405

Hamilton

Insurance

Group

Ltd.,

Class

B*

1,715

29,892

HCI

Group,

Inc.

756

71,261

Heritage

Insurance

Holdings,

Inc.*

2,148

17,163

Hippo

Holdings,

Inc.*(a)

1,830

32,464

Horace

Mann

Educators

Corp.

3,716

128,462

Investors

Title

Co.

131

27,882

James

River

Group

Holdings

Ltd.

2,974

25,695

Kingsway

Financial

Services,

Inc.*

1,007

8,539

Lemonade,

Inc.*(a)

4,777

86,129

Maiden

Holdings

Ltd.*(a)

8,591

18,127

MBIA,

Inc.

3,927

17,279

Mercury

General

Corp.

2,497

149,495

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

87

Common

Stocks

Shares

Value

($)

Insurance

NI

Holdings,

Inc.*

857

14,072

Oscar

Health,

Inc.,

Class

A*

17,969

317,692

Palomar

Holdings,

Inc.*

2,276

209,415

ProAssurance

Corp.*

4,492

58,845

Root,

Inc.,

Class

A*(a)

795

47,883

Safety

Insurance

Group,

Inc.

(a)

1,328

113,610

Selective

Insurance

Group,

Inc.

5,634

508,863

Selectquote,

Inc.*

12,915

52,822

SiriusPoint

Ltd.*(a)

9,127

131,155

Skyward

Specialty

Insurance

Group,

Inc.*

3,436

135,963

Stewart

Information

Services

Corp.(a)

2,422

171,235

Tiptree,

Inc.,

Class

A

2,530

49,968

Trupanion,

Inc.*(a)

3,071

113,811

United

Fire

Group,

Inc.

1,888

42,310

Universal

Insurance

Holdings,

Inc.

2,267

44,909

4,593,140

Interactive

Media

&

Services

0

.6

%

Bumble,

Inc.,

Class

A*

9,311

86,965

Cargurus,

Inc.,

Class

A*

8,159

202,506

Cars.com,

Inc.*(a)

6,171

127,246

EverQuote,

Inc.,

Class

A*

2,329

60,764

fuboTV,

Inc.*(a)

26,340

38,456

Getty

Images

Holdings,

Inc.*(a)

9,139

34,820

Grindr,

Inc.*

2,306

26,819

MediaAlpha,

Inc.,

Class

A*

2,341

34,342

Nextdoor

Holdings,

Inc.*

16,313

46,329

Outbrain,

Inc.*

3,099

14,813

QuinStreet,

Inc.*

4,850

90,695

Shutterstock,

Inc.(a)

2,371

104,846

System1,

Inc.*(a)

2,344

3,188

TrueCar,

Inc.*

8,503

31,121

Vimeo,

Inc.*

12,941

52,023

Yelp,

Inc.,

Class

A*

6,039

220,001

Ziff

Davis,

Inc.*

4,199

201,048

ZipRecruiter,

Inc.,

Class

A*

6,852

62,764

1,438,746

IT

Services

0

.7

%

Applied

Digital

Corp.*(a)

9,114

44,294

ASGN,

Inc.*

4,223

399,791

Backblaze,

Inc.,

Class

A*(a)

3,700

24,494

BigBear.ai

Holdings,

Inc.*(a)

10,878

16,426

BigCommerce

Holdings,

Inc.,

Series

1*(a)

6,824

55,274

Core

Scientific,

Inc.*(a)

16,458

160,466

Couchbase,

Inc.*

3,616

69,391

DigitalOcean

Holdings,

Inc.*(a)

6,073

201,199

Fastly,

Inc.,

Class

A*(a)

11,974

96,989

Grid

Dynamics

Holdings,

Inc.*

5,288

68,215

Hackett

Group,

Inc.

(The)

2,220

60,562

Information

Services

Group,

Inc.

2,880

9,994

Perficient,

Inc.*

3,205

241,689

Rackspace

Technology,

Inc.*

7,500

17,550

Squarespace,

Inc.,

Class

A*

5,597

247,331

Thoughtworks

Holding,

Inc.*(a)

8,762

30,492

Common

Stocks

Shares

Value

($)

IT

Services

Tucows,

Inc.,

Class

A*(a)

629

15,832

Unisys

Corp.*

6,278

29,883

1,789,872

Leisure

Products

0

.4

%

Acushnet

Holdings

Corp.(a)

2,625

190,523

AMMO,

Inc.*(a)

8,211

14,944

Clarus

Corp.(a)

2,530

15,281

Escalade,

Inc.(a)

942

14,017

Funko,

Inc.,

Class

A*(a)

3,050

30,470

JAKKS

Pacific,

Inc.*

684

14,391

Johnson

Outdoors,

Inc.,

Class

A(a)

496

21,030

Latham

Group,

Inc.*

4,001

14,564

Malibu

Boats,

Inc.,

Class

A*

1,780

67,711

Marine

Products

Corp.(a)

694

7,350

MasterCraft

Boat

Holdings,

Inc.*(a)

1,622

35,489

Peloton

Interactive,

Inc.,

Class

A*(a)

31,241

111,218

Smith

&

Wesson

Brands,

Inc.

(a)

4,217

69,791

Solo

Brands,

Inc.,

Class

A*

2,035

4,864

Sturm

Ruger

&

Co.,

Inc.(a)

1,573

70,958

Topgolf

Callaway

Brands

Corp.*(a)

13,130

216,645

Vista

Outdoor,

Inc.*(a)

5,389

218,955

1,118,201

Life

Sciences

Tools

&

Services

0

.3

%

Adaptive

Biotechnologies

Corp.*

10,374

47,202

Akoya

Biosciences,

Inc.*(a)

4,310

10,646

BioLife

Solutions,

Inc.*

3,291

79,050

ChromaDex

Corp.*(a)

4,492

13,431

Codexis,

Inc.*(a)

5,840

20,907

CryoPort,

Inc.*(a)

3,777

34,862

Cytek

Biosciences,

Inc.*

11,127

74,662

Harvard

Bioscience,

Inc.*

3,702

11,846

Lifecore

Biomedical,

Inc.*(a)

1,896

12,002

Maravai

LifeSciences

Holdings,

Inc.,

Class

A*

10,231

99,548

MaxCyte,

Inc.*(a)

9,573

45,950

Mesa

Laboratories,

Inc.(a)

478

54,741

Nautilus

Biotechnology,

Inc.,

Class

A*

4,017

10,886

OmniAb,

Inc.*(a)

7,732

37,036

OmniAb,

Inc.*^∞

1,082

0

Pacific

Biosciences

of

California,

Inc.*(a)

27,153

55,935

Quanterix

Corp.*

3,621

53,446

Quantum-Si,

Inc.*(a)

8,046

8,770

Standard

BioTools,

Inc.*(a)

27,677

61,996

732,916

Machinery

3

.9

%

374Water,

Inc.*(a)

5,604

6,781

3D

Systems

Corp.*(a)

12,081

44,096

Alamo

Group,

Inc.(a)

941

181,350

Albany

International

Corp.,

Class

A

2,862

267,826

Astec

Industries,

Inc.(a)

2,245

78,777

88

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Machinery

Atmus

Filtration

Technologies,

Inc.*

7,711

237,807

Barnes

Group,

Inc.

4,295

173,260

Blue

Bird

Corp.*

2,965

154,536

Chart

Industries,

Inc.*

3,939

634,494

Columbus

McKinnon

Corp.

2,624

100,132

Commercial

Vehicle

Group,

Inc.*

3,040

16,568

Douglas

Dynamics,

Inc.

2,202

63,660

Eastern

Co.

(The)(a)

452

13,307

Energy

Recovery,

Inc.*

5,121

74,664

Enerpac

Tool

Group

Corp.,

Class

A

5,032

202,286

Enpro,

Inc.

1,934

330,598

ESCO

Technologies,

Inc.

2,371

291,538

Federal

Signal

Corp.

5,597

559,532

Franklin

Electric

Co.,

Inc.

4,109

438,102

Gencor

Industries,

Inc.*

997

24,556

Gorman-Rupp

Co.

(The)

1,963

81,092

Graham

Corp.*(a)

921

30,181

Greenbrier

Cos.,

Inc.

(The)(a)

2,839

144,817

Helios

Technologies,

Inc.

3,064

140,791

Hillenbrand,

Inc.

6,477

286,478

Hillman

Solutions

Corp.*

18,007

182,771

Hyliion

Holdings

Corp.*(a)

13,719

30,456

Hyster-Yale,

Inc.

1,059

86,563

John

Bean

Technologies

Corp.

(a)

2,916

286,876

Kadant,

Inc.(a)

1,078

378,906

Kennametal,

Inc.

7,062

184,601

L

B

Foster

Co.,

Class

A*

825

19,808

Lindsay

Corp.

1,034

130,274

Luxfer

Holdings

plc

2,635

34,097

Manitowoc

Co.,

Inc.

(The)*

3,270

41,333

Mayville

Engineering

Co.,

Inc.*

1,045

19,970

Miller

Industries,

Inc.

1,018

69,163

Mueller

Industries,

Inc.(a)

10,376

736,073

Mueller

Water

Products,

Inc.,

Class

A

14,321

296,158

NN,

Inc.*(a)

4,201

16,468

Omega

Flex,

Inc.

304

15,984

Park-Ohio

Holdings

Corp.

794

24,789

Proto

Labs,

Inc.*

2,281

79,424

REV

Group,

Inc.

4,754

138,722

Shyft

Group,

Inc.

(The)

3,361

56,364

SPX

Technologies,

Inc.*

4,198

619,373

Standex

International

Corp.

1,083

202,304

Taylor

Devices,

Inc.*(a)

206

10,580

Tennant

Co.

1,744

187,811

Terex

Corp.(a)

6,131

387,847

Titan

International,

Inc.*

4,784

40,760

Trinity

Industries,

Inc.

7,550

249,603

Twin

Disc,

Inc.

972

14,016

Wabash

National

Corp.(a)

4,071

87,486

Watts

Water

Technologies,

Inc.,

Class

A(a)

2,516

522,120

9,727,929

Marine

Transportation

0

.3

%

Costamare,

Inc.(a)

3,985

59,058

Genco

Shipping

&

Trading

Ltd.

3,943

76,534

Golden

Ocean

Group

Ltd.

11,113

138,023

Common

Stocks

Shares

Value

($)

Marine

Transportation

Himalaya

Shipping

Ltd.(a)

3,038

24,669

Matson,

Inc.

3,196

424,141

Pangaea

Logistics

Solutions

Ltd.

2,586

18,774

Safe

Bulkers,

Inc.

5,998

30,350

771,549

Media

0

.8

%

Advantage

Solutions,

Inc.*(a)

9,885

39,639

AMC

Networks,

Inc.,

Class

A*(a)

2,690

29,940

Boston

Omaha

Corp.,

Class

A*

2,239

32,913

Cable

One,

Inc.(a)

521

215,371

Cardlytics,

Inc.*(a)

3,908

32,397

Clear

Channel

Outdoor

Holdings,

Inc.*

34,415

57,129

EchoStar

Corp.,

Class

A*(a)

11,217

225,237

Emerald

Holding,

Inc.*(a)

1,555

8,817

Entravision

Communications

Corp.,

Class

A

5,926

12,978

EW

Scripps

Co.

(The),

Class

A*(a)

4,952

18,619

Gambling.com

Group

Ltd.*(a)

1,822

17,528

Gannett

Co.,

Inc.*(a)

13,690

67,218

Gray

Television,

Inc.

7,472

48,045

Ibotta,

Inc.,

Class

A*(a)

698

46,933

iHeartMedia,

Inc.,

Class

A*(a)

9,650

17,177

Innovid

Corp.*

9,646

20,450

Integral

Ad

Science

Holding

Corp.*

6,678

67,982

John

Wiley

&

Sons,

Inc.,

Class

A

3,336

159,294

Magnite,

Inc.*

11,764

171,049

National

CineMedia,

Inc.*

6,550

39,562

PubMatic,

Inc.,

Class

A*(a)

3,911

85,886

Scholastic

Corp.

2,342

73,375

Sinclair,

Inc.(a)

3,219

49,508

Stagwell,

Inc.,

Class

A*

8,380

55,978

TechTarget,

Inc.*

2,459

78,688

TEGNA,

Inc.

16,500

262,845

Thryv

Holdings,

Inc.*(a)

3,003

58,498

Townsquare

Media,

Inc.,

Class

A(a)

1,105

13,348

WideOpenWest,

Inc.*

5,059

27,572

2,033,976

Metals

&

Mining

1

.8

%

Alpha

Metallurgical

Resources,

Inc.

1,017

300,432

Arch

Resources,

Inc.

1,652

242,101

Caledonia

Mining

Corp.

plc(a)

1,553

18,170

Carpenter

Technology

Corp.

4,393

640,807

Century

Aluminum

Co.*

4,849

73,268

Coeur

Mining,

Inc.*(a)

36,452

236,573

Commercial

Metals

Co.

10,726

644,633

Compass

Minerals

International,

Inc.(a)

3,168

42,134

Constellium

SE,

Class

A*

11,972

213,221

Contango

ORE,

Inc.*(a)

670

15,309

Critical

Metals

Corp.*(a)

583

5,877

Dakota

Gold

Corp.*

7,415

17,648

Haynes

International,

Inc.

1,106

65,862

Hecla

Mining

Co.

53,773

310,808

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

89

Common

Stocks

Shares

Value

($)

Metals

&

Mining

i-80

Gold

Corp.*

25,154

26,412

Ivanhoe

Electric,

Inc.*

7,692

76,305

Kaiser

Aluminum

Corp.(a)

1,480

116,461

Lifezone

Metals

Ltd.*

3,257

25,698

Materion

Corp.(a)

1,896

228,335

Metallus,

Inc.*(a)

4,104

92,012

Metals

Acquisition

Ltd.,

Class

A*

4,789

61,778

Novagold

Resources,

Inc.*

21,893

104,649

Olympic

Steel,

Inc.

906

45,916

Perpetua

Resources

Corp.*

3,415

23,188

Piedmont

Lithium,

Inc.*(a)

1,680

16,834

Radius

Recycling,

Inc.,

Class

A

2,645

47,927

Ramaco

Resources,

Inc.,

Class

A

2,455

33,388

Ramaco

Resources,

Inc.,

Class

B

446

5,214

Ryerson

Holding

Corp.

2,738

65,137

SSR

Mining,

Inc.

18,699

104,153

SunCoke

Energy,

Inc.

7,983

93,401

Tredegar

Corp.*

2,499

14,269

Universal

Stainless

&

Alloy

Products,

Inc.*(a)

795

29,828

Warrior

Met

Coal,

Inc.

4,881

337,326

Worthington

Steel,

Inc.

3,011

120,049

4,495,123

Mortgage

Real

Estate

Investment

Trusts

(REITs)

1

.0

%

AFC

Gamma,

Inc.

1,587

14,235

AG

Mortgage

Investment

Trust,

Inc.

2,649

20,450

Angel

Oak

Mortgage

REIT,

Inc.

1,198

15,095

Apollo

Commercial

Real

Estate

Finance,

Inc.

13,382

145,864

Arbor

Realty

Trust,

Inc.

15,526

209,601

Ares

Commercial

Real

Estate

Corp.

4,706

36,377

ARMOUR

Residential

REIT,

Inc.

4,551

91,930

Blackstone

Mortgage

Trust,

Inc.,

Class

A

16,569

295,757

BrightSpire

Capital,

Inc.,

Class

A

12,057

69,087

Chicago

Atlantic

Real

Estate

Finance,

Inc.

1,549

24,753

Chimera

Investment

Corp.

7,462

109,020

Claros

Mortgage

Trust,

Inc.(a)

7,648

72,733

Dynex

Capital,

Inc.

5,876

71,511

Ellington

Financial,

Inc.

7,589

96,304

Franklin

BSP

Realty

Trust,

Inc.

7,404

102,471

Granite

Point

Mortgage

Trust,

Inc.

4,847

14,444

Invesco

Mortgage

Capital,

Inc.

4,697

42,649

KKR

Real

Estate

Finance

Trust,

Inc.

5,503

63,175

Ladder

Capital

Corp.,

Class

A

10,824

129,888

MFA

Financial,

Inc.

9,333

104,436

New

York

Mortgage

Trust,

Inc.

8,750

56,700

Nexpoint

Real

Estate

Finance,

Inc.

595

8,586

Orchid

Island

Capital,

Inc.

4,899

39,388

Common

Stocks

Shares

Value

($)

Mortgage

Real

Estate

Investment

Trusts

(REITs)

PennyMac

Mortgage

Investment

Trust

8,242

113,492

Ready

Capital

Corp.

15,330

142,262

Redwood

Trust,

Inc.

12,234

88,941

Seven

Hills

Realty

Trust

1,178

15,774

Sunrise

Realty

Trust,

Inc.*

529

6,348

TPG

RE

Finance

Trust,

Inc.

5,049

44,128

Two

Harbors

Investment

Corp.

9,582

129,070

2,374,469

Multi-Utilities

0

.4

%

Avista

Corp.

7,224

283,037

Black

Hills

Corp.

6,425

379,396

Northwestern

Energy

Group,

Inc.

5,751

309,231

Unitil

Corp.

1,490

91,307

1,062,971

Office

REITs

0

.7

%

Brandywine

Realty

Trust

14,522

73,191

City

Office

REIT,

Inc.

3,848

23,280

COPT

Defense

Properties

10,513

304,562

Douglas

Emmett,

Inc.

9,409

151,391

Easterly

Government

Properties,

Inc.,

Class

A

8,777

122,264

Equity

Commonwealth*

9,698

197,548

Franklin

Street

Properties

Corp.

9,078

15,796

Hudson

Pacific

Properties,

Inc.

12,083

72,377

JBG

SMITH

Properties

8,352

136,555

NET

Lease

Office

Properties

1,384

40,842

Orion

Office

REIT,

Inc.

5,993

24,272

Paramount

Group,

Inc.

17,745

92,984

Peakstone

Realty

Trust

3,631

49,309

Piedmont

Office

Realty

Trust,

Inc.,

Class

A

11,880

102,762

Postal

Realty

Trust,

Inc.,

Class

A

1,588

23,756

SL

Green

Realty

Corp.

6,129

408,436

1,839,325

Oil,

Gas

&

Consumable

Fuels

3

.4

%

Aemetis,

Inc.*(a)

3,315

10,641

Amplify

Energy

Corp.*

4,048

30,400

Ardmore

Shipping

Corp.

3,769

81,712

Berry

Corp.

6,941

47,615

California

Resources

Corp.

6,360

327,158

Centrus

Energy

Corp.,

Class

A*

1,295

56,579

Clean

Energy

Fuels

Corp.*

16,347

46,589

CNX

Resources

Corp.*(a)

13,716

363,063

Comstock

Resources,

Inc.(a)

8,548

80,950

CONSOL

Energy,

Inc.*(a)

2,735

272,980

Crescent

Energy

Co.,

Class

A(a)

8,828

107,966

CVR

Energy,

Inc.(a)

3,260

93,236

Delek

US

Holdings,

Inc.

5,968

141,919

DHT

Holdings,

Inc.

12,575

147,756

Diversified

Energy

Co.

plc

Reg.

S

4,266

70,176

Dorian

LPG

Ltd.(a)

3,189

130,303

Empire

Petroleum

Corp.*

1,133

6,198

Encore

Energy

Corp.*(a)

16,825

65,617

90

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Oil,

Gas

&

Consumable

Fuels

Energy

Fuels,

Inc.*(a)

14,871

84,616

EQT

Corp.

1

35

Evolution

Petroleum

Corp.(a)

2,985

16,776

Excelerate

Energy,

Inc.,

Class

A

1,723

34,684

FLEX

LNG

Ltd.

2,859

76,907

FutureFuel

Corp.

2,709

15,143

Golar

LNG

Ltd.

9,095

317,415

Granite

Ridge

Resources,

Inc.

(a)

4,633

31,736

Green

Plains,

Inc.*(a)

5,212

92,409

Gulfport

Energy

Corp.*

1,193

175,622

Hallador

Energy

Co.*

2,217

17,647

HighPeak

Energy,

Inc.(a)

1,512

25,417

International

Seaways,

Inc.

3,721

208,376

Kinetik

Holdings,

Inc.,

Class

A

3,512

145,678

Kosmos

Energy

Ltd.*(a)

43,097

238,326

Magnolia

Oil

&

Gas

Corp.,

Class

A(a)

15,795

430,256

Murphy

Oil

Corp.(a)

13,460

556,975

NACCO

Industries,

Inc.,

Class

A

402

12,104

NextDecade

Corp.*(a)

10,722

86,955

Nordic

American

Tankers

Ltd.

(a)

18,361

68,487

Northern

Oil

&

Gas,

Inc.(a)

9,317

402,401

Par

Pacific

Holdings,

Inc.*

5,329

141,485

PBF

Energy,

Inc.,

Class

A

9,576

390,222

Peabody

Energy

Corp.(a)

11,817

262,456

PrimeEnergy

Resources

Corp.*

71

8,387

REX

American

Resources

Corp.*

1,431

72,709

Riley

Exploration

Permian,

Inc.

1,050

30,754

Ring

Energy,

Inc.*(a)

13,648

26,887

Sable

Offshore

Corp.*(a)

4,519

76,010

SandRidge

Energy,

Inc.(a)

2,887

39,234

Scorpio

Tankers,

Inc.

4,339

332,715

SFL

Corp.

Ltd.

10,456

123,799

SilverBow

Resources,

Inc.*∞

1,918

70,621

Sitio

Royalties

Corp.,

Class

A(a)

7,411

180,458

SM

Energy

Co.

10,599

489,674

Talos

Energy,

Inc.*(a)

13,651

161,628

Teekay

Corp.*

5,893

51,092

Teekay

Tankers

Ltd.,

Class

A

2,271

148,614

Uranium

Energy

Corp.*(a)

36,252

214,974

Ur-Energy,

Inc.*

24,934

30,918

VAALCO

Energy,

Inc.(a)

10,190

72,960

Vital

Energy,

Inc.*(a)

2,650

115,566

Vitesse

Energy,

Inc.(a)

2,356

61,162

W&T

Offshore,

Inc.(a)

9,007

21,707

World

Kinect

Corp.(a)

5,722

159,815

8,402,670

Paper

&

Forest

Products

0

.1

%

Clearwater

Paper

Corp.*

1,528

84,758

Sylvamo

Corp.(a)

3,304

243,538

328,296

Passenger

Airlines

0

.4

%

Allegiant

Travel

Co.

1,394

78,162

Blade

Air

Mobility,

Inc.*(a)

5,027

16,589

Common

Stocks

Shares

Value

($)

Passenger

Airlines

Frontier

Group

Holdings,

Inc.*(a)

3,702

14,586

Hawaiian

Holdings,

Inc.*

4,683

59,895

JetBlue

Airways

Corp.*(a)

28,586

183,236

Joby

Aviation,

Inc.*(a)

37,064

221,643

SkyWest,

Inc.*

3,683

294,419

Spirit

Airlines,

Inc.(a)

9,782

29,444

Sun

Country

Airlines

Holdings,

Inc.*(a)

3,634

47,605

Wheels

Up

Experience,

Inc.*(a)

8,389

22,063

967,642

Personal

Care

Products

0

.3

%

Beauty

Health

Co.

(The)*(a)

7,616

14,089

Edgewell

Personal

Care

Co.

4,547

178,015

Herbalife

Ltd.*(a)

9,244

113,516

Honest

Co.,

Inc.

(The)*

7,349

27,412

Inter

Parfums,

Inc.

1,676

235,780

Medifast,

Inc.

929

20,373

Nature's

Sunshine

Products,

Inc.*(a)

1,134

19,403

Nu

Skin

Enterprises,

Inc.,

Class

A

4,502

50,512

Olaplex

Holdings,

Inc.*(a)

12,671

26,356

USANA

Health

Sciences,

Inc.*

1,073

47,856

Veru,

Inc.*

11,957

11,194

Waldencast

plc,

Class

A*(a)

2,215

6,955

751,461

Pharmaceuticals

1

.7

%

Alimera

Sciences,

Inc.*

1,870

10,397

Alto

Neuroscience,

Inc.*

820

8,840

Amneal

Pharmaceuticals,

Inc.*(a)

14,689

107,670

Amphastar

Pharmaceuticals,

Inc.*(a)

3,536

153,887

ANI

Pharmaceuticals,

Inc.*

1,695

111,395

Aquestive

Therapeutics,

Inc.*(a)

6,819

26,185

Arvinas,

Inc.*

5,935

163,272

Atea

Pharmaceuticals,

Inc.*

7,410

28,306

Avadel

Pharmaceuticals

plc*(a)

8,524

139,282

Axsome

Therapeutics,

Inc.*

3,365

293,798

Biote

Corp.,

Class

A*(a)

2,391

18,961

Cassava

Sciences,

Inc.*(a)

3,842

85,369

Collegium

Pharmaceutical,

Inc.*

3,054

117,793

Contineum

Therapeutics,

Inc.,

Class

A*

608

12,196

Corcept

Therapeutics,

Inc.*(a)

7,442

287,782

CorMedix,

Inc.*(a)

5,825

26,678

Edgewise

Therapeutics,

Inc.*

6,704

114,169

Enliven

Therapeutics,

Inc.*(a)

3,250

85,735

Esperion

Therapeutics,

Inc.*

17,312

39,991

Evolus,

Inc.*

5,091

63,230

EyePoint

Pharmaceuticals,

Inc.*(a)

4,615

45,596

Fulcrum

Therapeutics,

Inc.*

5,745

53,314

Harmony

Biosciences

Holdings,

Inc.*(a)

2,878

97,449

Harrow,

Inc.*(a)

2,809

72,416

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

91

Common

Stocks

Shares

Value

($)

Pharmaceuticals

Innoviva,

Inc.*(a)

5,283

99,532

Ligand

Pharmaceuticals,

Inc.*

1,573

171,441

Liquidia

Corp.*(a)

5,314

63,396

Longboard

Pharmaceuticals,

Inc.*

2,990

99,388

MediWound

Ltd.*(a)

728

13,999

Mind

Medicine

MindMed,

Inc.*

6,668

61,746

Nektar

Therapeutics,

Class

A*(a)

16,351

21,910

Neumora

Therapeutics,

Inc.*(a)

7,739

99,524

Nuvation

Bio,

Inc.*

16,611

63,620

Ocular

Therapeutix,

Inc.*

14,337

121,291

Omeros

Corp.*(a)

5,761

31,052

Pacira

BioSciences,

Inc.*

4,212

86,978

Phathom

Pharmaceuticals,

Inc.*(a)

3,036

35,885

Phibro

Animal

Health

Corp.,

Class

A

2,000

37,760

Pliant

Therapeutics,

Inc.*

4,974

71,178

Prestige

Consumer

Healthcare,

Inc.*

4,545

321,831

Revance

Therapeutics,

Inc.*(a)

10,622

40,151

Scilex

Holding

Co.*

6,009

9,554

scPharmaceuticals,

Inc.*(a)

2,733

13,747

SIGA

Technologies,

Inc.

4,172

41,637

Supernus

Pharmaceuticals,

Inc.*(a)

4,652

138,723

Tarsus

Pharmaceuticals,

Inc.*(a)

3,396

82,489

Terns

Pharmaceuticals,

Inc.*

5,309

41,145

Theravance

Biopharma,

Inc.*

3,452

34,900

Third

Harmonic

Bio,

Inc.*(a)

1,819

22,083

Trevi

Therapeutics,

Inc.*(a)

6,507

20,692

Ventyx

Biosciences,

Inc.*

7,081

16,428

Verrica

Pharmaceuticals,

Inc.*(a)

1,975

13,015

WaVe

Life

Sciences

Ltd.*(a)

7,901

52,226

Xeris

Biopharma

Holdings,

Inc.*

14,587

36,176

Zevra

Therapeutics,

Inc.*(a)

4,427

28,731

4,155,939

Professional

Services

2

.4

%

Alight,

Inc.,

Class

A*

43,796

331,536

Asure

Software,

Inc.*(a)

1,830

18,849

Barrett

Business

Services,

Inc.

2,388

87,019

BlackSky

Technology,

Inc.,

Class

A*(a)

11,187

12,529

CBIZ,

Inc.*

4,415

306,401

Conduent,

Inc.*

16,082

65,615

CRA

International,

Inc.

615

107,502

CSG

Systems

International,

Inc.

2,829

132,510

DLH

Holdings

Corp.*

684

7,914

ExlService

Holdings,

Inc.*

14,552

513,104

Exponent,

Inc.

4,719

500,592

First

Advantage

Corp.(a)

4,905

84,464

FiscalNote

Holdings,

Inc.*(a)

4,999

7,648

Forrester

Research,

Inc.*

1,137

22,956

Franklin

Covey

Co.*

1,042

45,546

Common

Stocks

Shares

Value

($)

Professional

Services

Heidrick

&

Struggles

International,

Inc.

1,849

74,219

HireQuest,

Inc.

507

6,819

Huron

Consulting

Group,

Inc.*

1,635

179,866

IBEX

Holdings

Ltd.*

772

13,464

ICF

International,

Inc.

1,722

253,306

Innodata,

Inc.*(a)

2,387

46,188

Insperity,

Inc.

3,315

340,517

Kelly

Services,

Inc.,

Class

A

2,865

67,413

Kforce,

Inc.

1,738

120,739

Korn

Ferry

4,817

355,109

Legalzoom.com,

Inc.*

12,684

84,729

Maximus,

Inc.

5,700

529,473

Mistras

Group,

Inc.*

1,971

19,710

NV5

Global,

Inc.*

1,327

136,867

Planet

Labs

PBC*(a)

14,881

37,798

Resources

Connection,

Inc.

2,989

35,659

Spire

Global,

Inc.*(a)

2,027

28,256

Sterling

Check

Corp.*

3,057

47,934

TriNet

Group,

Inc.

3,000

312,750

TrueBlue,

Inc.*

3,193

38,156

TTEC

Holdings,

Inc.

1,893

15,106

Upwork,

Inc.*

11,320

137,198

Verra

Mobility

Corp.,

Class

A*

15,650

471,535

Willdan

Group,

Inc.*

1,086

36,794

WNS

Holdings

Ltd.*(a)

4,286

255,360

5,889,150

Real

Estate

Management

&

Development

0

.7

%

American

Realty

Investors,

Inc.*(a)

278

5,874

Anywhere

Real

Estate,

Inc.*

9,109

42,994

Compass,

Inc.,

Class

A*(a)

33,704

147,961

Cushman

&

Wakefield

plc*

14,864

194,867

DigitalBridge

Group,

Inc.(a)

14,797

209,082

eXp

World

Holdings,

Inc.(a)

7,547

108,375

Forestar

Group,

Inc.*

1,762

55,732

FRP

Holdings,

Inc.*(a)

1,036

31,173

Kennedy-Wilson

Holdings,

Inc.

10,488

109,180

Marcus

&

Millichap,

Inc.

2,306

91,341

Maui

Land

&

Pineapple

Co.,

Inc.*(a)

714

17,072

Newmark

Group,

Inc.,

Class

A

12,872

167,078

Offerpad

Solutions,

Inc.*

1,552

6,891

Opendoor

Technologies,

Inc.*(a)

57,372

133,103

RE/MAX

Holdings,

Inc.,

Class

A

1,632

15,749

Real

Brokerage,

Inc.

(The)*(a)

8,840

52,598

Redfin

Corp.*(a)

11,155

90,802

RMR

Group,

Inc.

(The),

Class

A

1,446

37,509

St

Joe

Co.

(The)

3,335

205,703

Star

Holdings*

1,243

16,718

Stratus

Properties,

Inc.*

455

12,567

Tejon

Ranch

Co.*

2,082

39,558

Transcontinental

Realty

Investors,

Inc.*

160

5,030

1,796,957

Residential

REITs

0

.4

%

Apartment

Investment

and

Management

Co.,

Class

A*

13,214

117,076

92

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Residential

REITs

BRT

Apartments

Corp.

1,127

21,120

Centerspace

1,382

96,505

Clipper

Realty,

Inc.

1,519

5,985

Elme

Communities

8,026

132,108

Independence

Realty

Trust,

Inc.

20,956

390,829

NexPoint

Residential

Trust,

Inc.

2,113

92,317

UMH

Properties,

Inc.

5,938

105,459

Veris

Residential,

Inc.

7,062

110,944

1,072,343

Retail

REITs

1

.2

%

Acadia

Realty

Trust

9,511

205,818

Alexander's,

Inc.

222

53,790

CBL

&

Associates

Properties,

Inc.

2,306

59,426

Getty

Realty

Corp.

4,652

137,792

InvenTrust

Properties

Corp.

6,392

180,063

Kite

Realty

Group

Trust

20,411

503,335

Macerich

Co.

(The)

20,163

322,810

NETSTREIT

Corp.

6,802

112,029

Phillips

Edison

&

Co.,

Inc.

11,577

406,353

Retail

Opportunity

Investments

Corp.

11,766

175,902

Saul

Centers,

Inc.

1,049

41,488

SITE

Centers

Corp.

17,847

275,736

Tanger,

Inc.

9,928

286,919

Urban

Edge

Properties

11,257

228,517

Whitestone

REIT

4,399

60,706

3,050,684

Semiconductors

&

Semiconductor

Equipment

2

.3

%

ACM

Research,

Inc.,

Class

A*

4,695

84,275

Aehr

Test

Systems*(a)

2,448

46,194

Alpha

&

Omega

Semiconductor

Ltd.*

2,182

90,335

Ambarella,

Inc.*

3,440

181,082

Axcelis

Technologies,

Inc.*(a)

2,999

378,924

CEVA,

Inc.*

2,013

40,361

Cohu,

Inc.*

4,207

134,582

Credo

Technology

Group

Holding

Ltd.*

11,975

332,306

Diodes,

Inc.*(a)

4,277

334,461

Everspin

Technologies,

Inc.*(a)

1,685

10,464

FormFactor,

Inc.*

7,257

388,685

GCT

Semiconductor

Holding,

Inc.*(a)

1,255

5,898

Ichor

Holdings

Ltd.*

3,004

102,136

Impinj,

Inc.*(a)

2,086

332,279

indie

Semiconductor,

Inc.,

Class

A*(a)

15,052

90,011

Kulicke

&

Soffa

Industries,

Inc.

(a)

5,109

240,992

MaxLinear,

Inc.,

Class

A*

7,287

103,038

Navitas

Semiconductor

Corp.,

Class

A*(a)

11,541

42,817

NVE

Corp.

453

40,453

PDF

Solutions,

Inc.*(a)

2,724

95,585

Photronics,

Inc.*

5,746

146,006

Power

Integrations,

Inc.

5,184

378,639

QuickLogic

Corp.*

1,242

13,414

Rambus,

Inc.*

10,054

517,178

Common

Stocks

Shares

Value

($)

Semiconductors

&

Semiconductor

Equipment

Rigetti

Computing,

Inc.*(a)

12,662

13,042

Semtech

Corp.*

5,978

189,622

Silicon

Laboratories,

Inc.*

2,925

351,380

SiTime

Corp.*

1,695

240,605

SkyWater

Technology,

Inc.*(a)

2,787

20,624

SMART

Global

Holdings,

Inc.*

4,856

113,630

Synaptics,

Inc.*

3,594

313,828

Ultra

Clean

Holdings,

Inc.*

4,043

174,900

Veeco

Instruments,

Inc.*(a)

5,035

208,499

5,756,245

Software

5

.8

%

8x8,

Inc.*

10,793

33,242

A10

Networks,

Inc.

6,677

87,402

ACI

Worldwide,

Inc.*

9,796

423,481

Adeia,

Inc.

10,118

118,887

Agilysys,

Inc.*

2,036

228,215

Alarm.com

Holdings,

Inc.*

4,455

314,300

Alkami

Technology,

Inc.*(a)

4,114

134,651

Altair

Engineering,

Inc.,

Class

A*(a)

5,364

473,963

American

Software,

Inc.,

Class

A

2,711

29,658

Amplitude,

Inc.,

Class

A*(a)

7,082

60,622

Appian

Corp.,

Class

A*(a)

3,822

141,185

Arteris,

Inc.*(a)

2,531

20,729

Asana,

Inc.,

Class

A*(a)

7,218

105,022

AudioEye,

Inc.*(a)

657

16,445

Aurora

Innovation,

Inc.,

Class

A*(a)

77,539

310,156

AvePoint,

Inc.*(a)

11,816

128,794

Bit

Digital,

Inc.*(a)

10,854

41,354

Blackbaud,

Inc.*

3,882

308,153

BlackLine,

Inc.*

5,332

253,377

Blend

Labs,

Inc.,

Class

A*(a)

21,348

59,134

Box,

Inc.,

Class

A*

12,967

364,632

Braze,

Inc.,

Class

A*

4,768

210,078

C3.ai,

Inc.,

Class

A*(a)

7,632

204,156

Cerence,

Inc.*(a)

3,482

11,073

Cipher

Mining,

Inc.*(a)

15,907

83,194

Cleanspark,

Inc.*(a)

20,465

327,440

Clear

Secure,

Inc.,

Class

A(a)

8,104

173,020

Clearwater

Analytics

Holdings,

Inc.,

Class

A*

12,884

251,882

CommVault

Systems,

Inc.*

4,013

613,387

Consensus

Cloud

Solutions,

Inc.*

1,971

41,982

CS

Disco,

Inc.*(a)

3,271

20,215

Daily

Journal

Corp.*

125

58,200

Dave,

Inc.*(a)

727

26,434

Digimarc

Corp.*(a)

1,470

47,025

Digital

Turbine,

Inc.*(a)

8,185

19,480

Domo,

Inc.,

Class

B*

3,041

25,423

D-Wave

Quantum,

Inc.*

8,188

8,188

E2open

Parent

Holdings,

Inc.*(a)

15,828

73,917

eGain

Corp.*

2,236

16,211

Enfusion,

Inc.,

Class

A*(a)

4,443

42,120

Envestnet,

Inc.*(a)

4,426

274,324

EverCommerce,

Inc.*(a)

2,238

26,990

Freshworks,

Inc.,

Class

A*

18,825

235,313

Hut

8

Corp.*(a)

7,409

108,468

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

93

Common

Stocks

Shares

Value

($)

Software

iLearningEngines

Holdings,

Inc.*(a)

2,640

21,833

Instructure

Holdings,

Inc.*(a)

2,011

46,977

Intapp,

Inc.*

3,686

132,069

InterDigital,

Inc.

2,337

286,890

Jamf

Holding

Corp.*

6,861

125,625

Kaltura,

Inc.*

7,855

10,447

LiveRamp

Holdings,

Inc.*

6,023

182,376

Marathon

Digital

Holdings,

Inc.*(a)

25,544

502,451

Matterport,

Inc.*(a)

23,744

105,423

MeridianLink,

Inc.*

2,510

59,311

Mitek

Systems,

Inc.*(a)

4,582

60,986

N-able,

Inc.*

6,704

93,454

NCR

Voyix

Corp.*(a)

13,454

198,447

NextNav,

Inc.*(a)

6,907

57,397

Olo,

Inc.,

Class

A*

10,139

48,464

ON24,

Inc.*

1,863

12,240

OneSpan,

Inc.*

3,599

53,265

Ooma,

Inc.*

2,215

23,036

Pagaya

Technologies

Ltd.,

Class

A*(a)

3,744

55,711

PagerDuty,

Inc.*(a)

8,242

172,505

Porch

Group,

Inc.*(a)

7,150

14,658

PowerSchool

Holdings,

Inc.,

Class

A*(a)

5,495

123,967

Prairie

Operating

Co.*

623

6,012

Progress

Software

Corp.

3,962

231,381

PROS

Holdings,

Inc.*

4,247

102,353

Q2

Holdings,

Inc.*(a)

5,454

367,981

Qualys,

Inc.*

3,469

517,367

Rapid7,

Inc.*

5,718

224,946

Red

Violet,

Inc.*

796

20,505

Rekor

Systems,

Inc.*(a)

6,496

11,823

ReposiTrak,

Inc.(a)

1,047

20,008

Rimini

Street,

Inc.*(a)

4,202

9,328

Riot

Platforms,

Inc.*(a)

25,078

255,545

Roadzen,

Inc.*(a)

3,334

5,134

Sapiens

International

Corp.

NV

2,930

113,977

SEMrush

Holdings,

Inc.,

Class

A*(a)

3,483

51,339

SolarWinds

Corp.

5,034

60,056

SoundHound

AI,

Inc.,

Class

A*(a)

26,299

133,862

SoundThinking,

Inc.*

841

13,002

Sprinklr,

Inc.,

Class

A*(a)

9,939

97,700

Sprout

Social,

Inc.,

Class

A*(a)

4,563

178,276

SPS

Commerce,

Inc.*(a)

3,441

741,260

Telos

Corp.*(a)

5,152

22,154

Tenable

Holdings,

Inc.*

10,897

500,390

Terawulf,

Inc.*

21,273

88,496

Varonis

Systems,

Inc.,

Class

B*(a)

10,364

571,367

Verint

Systems,

Inc.*

5,722

206,793

Vertex,

Inc.,

Class

A*

5,207

206,458

Viant

Technology,

Inc.,

Class

A*

1,811

21,062

Weave

Communications,

Inc.*

3,267

32,670

WM

Technology,

Inc.*(a)

7,278

7,860

Workiva,

Inc.,

Class

A*(a)

4,675

344,875

Xperi,

Inc.*

3,978

32,500

Common

Stocks

Shares

Value

($)

Software

Yext,

Inc.*

9,766

56,252

Zeta

Global

Holdings

Corp.,

Class

A*

15,231

326,248

Zuora,

Inc.,

Class

A*(a)

11,864

107,607

14,626,041

Specialized

REITs

0

.4

%

Farmland

Partners,

Inc.

4,018

42,671

Four

Corners

Property

Trust,

Inc.

8,710

236,389

Gladstone

Land

Corp.

3,282

48,738

Outfront

Media,

Inc.

13,730

222,701

PotlatchDeltic

Corp.

7,375

327,155

Safehold,

Inc.

4,938

114,265

Uniti

Group,

Inc.

23,143

88,869

1,080,788

Specialty

Retail

2

.4

%

1-800-Flowers.com,

Inc.,

Class

A*

1,982

20,534

Aaron's

Co.,

Inc.

(The)

2,877

28,770

Abercrombie

&

Fitch

Co.,

Class

A*

4,684

690,796

Academy

Sports

&

Outdoors,

Inc.(a)

6,673

360,809

American

Eagle

Outfitters,

Inc.

16,849

371,520

America's

Car-Mart,

Inc.*(a)

591

40,927

Arhaus,

Inc.,

Class

A(a)

4,715

71,621

Arko

Corp.

7,151

46,839

Asbury

Automotive

Group,

Inc.*(a)

1,870

503,441

BARK,

Inc.*(a)

14,627

22,672

Beyond,

Inc.*

4,452

50,308

Boot

Barn

Holdings,

Inc.*(a)

2,729

364,267

Buckle,

Inc.

(The)(a)

2,833

122,357

Build-A-Bear

Workshop,

Inc.

1,190

32,273

Caleres,

Inc.

3,094

119,305

Camping

World

Holdings,

Inc.,

Class

A

4,081

93,373

Citi

Trends,

Inc.*(a)

745

14,609

Designer

Brands,

Inc.,

Class

A(a)

3,900

31,824

Destination

XL

Group,

Inc.*(a)

4,781

17,833

EVgo,

Inc.,

Class

A*(a)

9,472

36,373

Foot

Locker,

Inc.

7,698

223,704

Genesco,

Inc.*(a)

1,036

31,940

Group

1

Automotive,

Inc.

1,225

448,007

GrowGeneration

Corp.*(a)

5,252

12,132

Haverty

Furniture

Cos.,

Inc.(a)

1,344

39,339

J

Jill,

Inc.

431

16,572

Lands'

End,

Inc.*(a)

1,408

24,908

Leslie's,

Inc.*(a)

17,265

50,932

MarineMax,

Inc.*

1,989

69,356

Monro,

Inc.(a)

2,843

87,621

National

Vision

Holdings,

Inc.*(a)

7,452

107,756

ODP

Corp.

(The)*

3,296

139,256

OneWater

Marine,

Inc.,

Class

A*(a)

1,039

25,643

Petco

Health

&

Wellness

Co.,

Inc.,

Class

A*

7,620

26,365

RealReal,

Inc.

(The)*(a)

9,051

33,851

94

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Common

Stocks

Shares

Value

($)

Specialty

Retail

Revolve

Group,

Inc.,

Class

A*(a)

3,798

73,491

RumbleON,

Inc.,

Class

B*(a)

1,619

6,670

Sally

Beauty

Holdings,

Inc.*(a)

9,754

111,683

Shoe

Carnival,

Inc.(a)

1,762

74,832

Signet

Jewelers

Ltd.(a)

3,947

332,061

Sleep

Number

Corp.*

2,022

23,860

Sonic

Automotive,

Inc.,

Class

A(a)

1,353

80,558

Stitch

Fix,

Inc.,

Class

A*

9,341

43,996

ThredUp,

Inc.,

Class

A*(a)

5,808

12,197

Tile

Shop

Holdings,

Inc.*

2,459

17,754

Tilly's,

Inc.,

Class

A*(a)

1,371

8,034

Torrid

Holdings,

Inc.*(a)

1,398

11,603

Upbound

Group,

Inc.

4,958

187,065

Urban

Outfitters,

Inc.*

5,905

271,925

Victoria's

Secret

&

Co.*

7,249

128,670

Warby

Parker,

Inc.,

Class

A*(a)

8,128

133,868

Winmark

Corp.(a)

255

100,888

Zumiez,

Inc.*

1,500

38,130

6,035,118

Technology

Hardware,

Storage

&

Peripherals

0

.2

%

CompoSecure,

Inc.,

Class

A(a)

1,556

12,681

Corsair

Gaming,

Inc.*

4,213

34,589

CPI

Card

Group,

Inc.*

403

11,820

Diebold

Nixdorf,

Inc.*

2,340

101,907

Eastman

Kodak

Co.*

5,475

31,810

Immersion

Corp.

2,817

35,973

IonQ,

Inc.*(a)

18,333

149,414

Turtle

Beach

Corp.*

1,441

20,851

Xerox

Holdings

Corp.(a)

10,783

116,079

515,124

Textiles,

Apparel

&

Luxury

Goods

0

.6

%

Figs,

Inc.,

Class

A*(a)

11,464

74,516

G-III

Apparel

Group

Ltd.*(a)

3,651

100,658

Hanesbrands,

Inc.*(a)

32,572

193,478

Kontoor

Brands,

Inc.(a)

5,145

360,922

Movado

Group,

Inc.

1,414

36,623

Oxford

Industries,

Inc.

1,347

141,879

Rocky

Brands,

Inc.

643

22,042

Steven

Madden

Ltd.

6,685

303,098

Superior

Group

of

Cos.,

Inc.

1,210

24,103

Vera

Bradley,

Inc.*(a)

2,482

17,076

Wolverine

World

Wide,

Inc.(a)

7,352

109,324

1,383,719

Tobacco

0

.1

%

Ispire

Technology,

Inc.*(a)

1,515

11,574

Turning

Point

Brands,

Inc.

1,605

60,541

Universal

Corp.(a)

2,260

120,729

Vector

Group

Ltd.

13,524

172,837

365,681

Trading

Companies

&

Distributors

2

.3

%

Alta

Equipment

Group,

Inc.(a)

2,651

27,836

Applied

Industrial

Technologies,

Inc.

3,579

780,902

Beacon

Roofing

Supply,

Inc.*

5,875

603,950

BlueLinx

Holdings,

Inc.*

768

92,613

Boise

Cascade

Co.

3,715

527,864

Custom

Truck

One

Source,

Inc.*(a)

4,608

23,086

Common

Stocks

Shares

Value

($)

Trading

Companies

&

Distributors

Distribution

Solutions

Group,

Inc.*

1,022

34,493

DNOW,

Inc.*

9,946

152,771

DXP

Enterprises,

Inc.*

1,110

60,784

EVI

Industries,

Inc.(a)

449

9,173

FTAI

Aviation

Ltd.

9,201

1,025,451

GATX

Corp.(a)

3,324

463,698

Global

Industrial

Co.

1,309

45,658

GMS,

Inc.*(a)

3,718

357,783

H&E

Equipment

Services,

Inc.

2,988

156,272

Herc

Holdings,

Inc.

2,609

406,587

Hudson

Technologies,

Inc.*

3,949

33,803

Karat

Packaging,

Inc.

665

19,864

McGrath

RentCorp

2,259

248,106

MRC

Global,

Inc.*

7,831

113,393

Rush

Enterprises,

Inc.,

Class

A

5,851

298,459

Rush

Enterprises,

Inc.,

Class

B

528

24,964

Titan

Machinery,

Inc.*

1,946

34,697

Transcat,

Inc.*

789

90,924

Willis

Lease

Finance

Corp.

268

23,123

Xometry,

Inc.,

Class

A*(a)

3,913

57,247

5,713,501

Transportation

Infrastructure

0

.0

%

†

Sky

Harbour

Group

Corp.*(a)

990

10,148

Water

Utilities

0

.4

%

American

States

Water

Co.

3,426

282,748

Cadiz,

Inc.*(a)

3,838

14,277

California

Water

Service

Group

5,325

284,674

Consolidated

Water

Co.

Ltd.

1,424

41,381

Global

Water

Resources,

Inc.

791

10,228

Middlesex

Water

Co.

1,619

107,631

Pure

Cycle

Corp.*

1,661

18,271

SJW

Group(a)

2,983

180,800

York

Water

Co.

(The)(a)

1,187

49,035

989,045

Wireless

Telecommunication

Services

0

.1

%

Gogo,

Inc.*

5,579

50,657

Spok

Holdings,

Inc.(a)

1,682

25,785

Telephone

&

Data

Systems,

Inc.

9,200

195,040

271,482

Total

Common

Stocks

(cost

$190,006,170)

249,263,362

Rights

0

.0

%

†

Number

of

Rights

Biotechnology

0

.0

%

†

Aduro

Biotech,

Inc.

CVR*^∞

1,489

0

Chinook

Therapeutics,

Inc.,

CVR*^∞

5,489

0

Icosavax,

Inc.,

CVR*^∞

2,263

0

Inhibrx,

Inc.,

CVR*∞

3,024

0

Oncternal

Therapeutics,

Inc.,

CVR*^∞

95

0

0

Total

Rights

(cost

$3,781)

0

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

95

Warrants

0

.0

%

†

Number

of

Warrants

Value

($)

Health

Care

Equipment

&

Supplies

0

.0

%

†

Pulse

Biosciences,

Inc.,

expiring

6/27/2029*∞(a)

328

650

Total

Warrants

(cost

$0)

650

Repurchase

Agreements

13

.5

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$10,874,477,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$11,091,969.(b)

10,872,863

10,872,863

Santander

US

Capital

Markets,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,445,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$3,060,454.(b)

3,000,000

3,000,000

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$20,002,962,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$20,400,012.(b)

20,000,000

20,000,000

Total

Repurchase

Agreements

(cost

$33,872,863)

33,872,863

Total

Investments

(cost

$223,914,979)

—

113.0%

283,156,479

Liabilities

in

excess

of

other

assets

—

(13.0)%

(

32,576,662

)

NET

ASSETS

—

100.0%

$

250,579,817

*

Denotes

a

non-income

producing

security.

^

Value

determined

using

significant

unobservable

inputs.

∞

Fair

valued

security.

†

Amount

rounds

to

less

than

0.1%.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$57,488,402,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$33,872,863

and

by

$25,227,983

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

8/15/2024

–

2/15/2054,

a

total

value

of

$59,100,846.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$33,872,863.

CVR

Contingent

Value

Rights

Reg.

S

Regulation

S

-

Security

was

purchased

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

which

exempts

from

registration

securities

offered

and

sold

outside

of

the

United

States.

Such

security

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933

or

pursuant

to

an

exemption

from

registration.

Currently

there

is

no

restriction

on

trading

this

security.

REIT

Real

Estate

Investment

Trust

96

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

Russell

2000

Micro

E-Mini

Index

208

9/2024

USD

2,363,920

38,435

Net

contracts

38,435

As

of

July

31,

2024,

the

Fund

had

$118,600

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

97

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

98

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Closed

End

Fund

$

19,604

$

–

$

–

$

19,604

Common

Stocks

Aerospace

&

Defense

2,628,856

–

–

2,628,856

Air

Freight

&

Logistics

422,739

–

–

422,739

Automobile

Components

3,262,666

–

–

3,262,666

Automobiles

190,945

–

–

190,945

Banks

25,053,984

–

–

25,053,984

Beverages

654,131

–

–

654,131

Biotechnology

22,174,447

–

–

22,174,447

Broadline

Retail

62,579

–

–

62,579

Building

Products

3,786,925

–

–

3,786,925

Capital

Markets

4,136,800

–

–

4,136,800

Chemicals

4,926,028

–

–

4,926,028

Commercial

Services

&

Supplies

4,338,584

–

–

4,338,584

Communications

Equipment

1,562,326

–

–

1,562,326

Construction

&

Engineering

3,699,129

–

–

3,699,129

Construction

Materials

991,166

–

–

991,166

Consumer

Finance

2,067,294

–

–

2,067,294

Consumer

Staples

Distribution

&

Retail

1,878,268

–

–

1,878,268

Containers

&

Packaging

644,786

–

–

644,786

Distributors

145,132

–

–

145,132

Diversified

Consumer

Services

2,323,679

–

–

2,323,679

Diversified

REITs

1,572,272

–

–

1,572,272

Diversified

Telecommunication

Services

1,367,134

–

–

1,367,134

Electric

Utilities

2,001,747

–

–

2,001,747

Electrical

Equipment

3,545,048

–

–

3,545,048

Electronic

Equipment,

Instruments

&

Components

7,487,964

–

–

7,487,964

Energy

Equipment

&

Services

6,728,717

–

–

6,728,717

Entertainment

1,251,330

–

–

1,251,330

Financial

Services

6,848,763

–

–

6,848,763

Food

Products

2,388,689

–

–

2,388,689

Gas

Utilities

2,368,215

–

–

2,368,215

Ground

Transportation

1,228,275

–

–

1,228,275

Health

Care

Equipment

&

Supplies

7,985,655

–

–

7,985,655

Health

Care

Providers

&

Services

7,227,877

–

–

7,227,877

Health

Care

REITs

1,456,037

–

–

1,456,037

Health

Care

Technology

865,180

–

–

865,180

Hotel

&

Resort

REITs

1,856,277

–

–

1,856,277

Hotels,

Restaurants

&

Leisure

4,350,725

–

–

4,350,725

Household

Durables

5,963,906

–

–

5,963,906

Household

Products

762,013

–

–

762,013

Independent

Power

and

Renewable

Electricity

Producers

528,020

–

–

528,020

Industrial

Conglomerates

57,660

–

–

57,660

Industrial

REITs

1,331,143

–

–

1,331,143

Insurance

4,593,140

–

–

4,593,140

Interactive

Media

&

Services

1,438,746

–

–

1,438,746

IT

Services

1,789,872

–

–

1,789,872

Leisure

Products

1,118,201

–

–

1,118,201

Life

Sciences

Tools

&

Services

732,916

–

–

732,916

Machinery

9,727,929

–

–

9,727,929

Marine

Transportation

771,549

–

–

771,549

Media

2,033,976

–

–

2,033,976

Metals

&

Mining

4,495,123

–

–

4,495,123

Mortgage

Real

Estate

Investment

Trusts

(REITs)

2,374,469

–

–

2,374,469

Multi-Utilities

1,062,971

–

–

1,062,971

Office

REITs

1,839,325

–

–

1,839,325

Oil,

Gas

&

Consumable

Fuels

8,332,049

70,621

–

8,402,670

Nationwide

Small

Cap

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

99

The

FVC

continues

to

evaluate

any

information

that

could

cause

an

adjustment

to

the

fair

value

for

these

investments,

such

as

market

news,

the

progress

of

judicial

and

regulatory

proceedings,

and

subadviser

recommendations. 

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

financial

futures

contracts.

(a)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Level

1

Level

2

Level

3

Total

Assets:

Paper

&

Forest

Products

328,296

$

–

$

–

$

328,296

Passenger

Airlines

967,642

–

–

967,642

Personal

Care

Products

751,461

–

–

751,461

Pharmaceuticals

4,155,939

–

–

4,155,939

Professional

Services

5,889,150

–

–

5,889,150

Real

Estate

Management

&

Development

1,796,957

–

–

1,796,957

Residential

REITs

1,072,343

–

–

1,072,343

Retail

REITs

3,050,684

–

–

3,050,684

Semiconductors

&

Semiconductor

Equipment

5,756,245

–

–

5,756,245

Software

14,626,041

–

–

14,626,041

Specialized

REITs

1,080,788

–

–

1,080,788

Specialty

Retail

6,035,118

–

–

6,035,118

Technology

Hardware,

Storage

&

Peripherals

515,124

–

–

515,124

Textiles,

Apparel

&

Luxury

Goods

1,383,719

–

–

1,383,719

Tobacco

365,681

–

–

365,681

Trading

Companies

&

Distributors

5,713,501

–

–

5,713,501

Transportation

Infrastructure

10,148

–

–

10,148

Water

Utilities

989,045

–

–

989,045

Wireless

Telecommunication

Services

271,482

–

–

271,482

Total

Common

Stocks

$

249,192,741

$

70,621

$

–

$

249,263,362

Futures

Contracts

38,435

–

–

38,435

Repurchase

Agreements

–

33,872,863

–

33,872,863

Rights  

–

–

–

–

Warrants

–

650

–

650

Total

$

249,250,780

$

33,944,134

$

–

$

283,194,914

As

of

July

31,

2024,

the

fund

held

three

common

stock

investments

and

four

rights

investments

that

were

categorized

as

Level

3

investments

which

were

each

valued

at

$0.

100

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

Small

Cap

Index

Fund

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

Assets:

Fair

Value

Futures

Contracts

Equity

risk

Unrealized

appreciation

from

futures

contracts

$

38,435

Total

$

38,435

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.

Nationwide

NYSE

Arca

Tech

100

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

101

Common

Stocks

99

.6

%

Shares

Value

($)

Aerospace

&

Defense

7

.5

%

Boeing

Co.

(The)*

38,370

7,313,322

General

Dynamics

Corp.

38,370

11,461,503

L3Harris

Technologies,

Inc.

38,370

8,705,769

Lockheed

Martin

Corp.

38,370

20,793,471

RTX

Corp.

38,370

4,508,091

52,782,156

Automobiles

1

.3

%

Tesla,

Inc.*

38,370

8,904,526

Biotechnology

3

.5

%

Amgen,

Inc.

38,370

12,756,874

Biogen,

Inc.*

38,370

8,180,484

Gilead

Sciences,

Inc.

38,370

2,918,422

Myriad

Genetics,

Inc.*

38,370

1,073,209

24,928,989

Broadline

Retail

1

.9

%

Alibaba

Group

Holding

Ltd.,

ADR-CN

38,370

3,025,474

Amazon.com,

Inc.*

38,370

7,174,423

eBay,

Inc.

38,370

2,133,756

JD.com,

Inc.,

ADR-CN

38,370

1,012,584

13,346,237

Chemicals

0

.5

%

DuPont

de

Nemours,

Inc.

38,370

3,211,569

Communications

Equipment

5

.1

%

Ciena

Corp.*(a)

38,370

2,023,634

Cisco

Systems,

Inc.

38,370

1,859,027

F5,

Inc.*

38,370

7,813,667

Juniper

Networks,

Inc.

38,370

1,446,165

Motorola

Solutions,

Inc.

38,370

15,306,560

Nokia

OYJ,

ADR-FI

38,370

150,410

Ubiquiti,

Inc.(a)

38,370

7,120,321

Viavi

Solutions,

Inc.*

38,370

308,495

36,028,279

Diversified

Telecommunication

Services

0

.1

%

AT&T,

Inc.

38,370

738,623

Electrical

Equipment

0

.2

%

Sensata

Technologies

Holding

plc(a)

38,370

1,496,046

Electronic

Equipment,

Instruments

&

Components

0

.6

%

Amphenol

Corp.,

Class

A

38,370

2,465,656

Corning,

Inc.

38,370

1,535,184

4,000,840

Energy

Equipment

&

Services

0

.6

%

Halliburton

Co.

38,370

1,330,672

NOV,

Inc.

38,370

798,863

Schlumberger

NV

38,370

1,852,887

3,982,422

Entertainment

0

.8

%

Electronic

Arts,

Inc.

38,370

5,791,568

Financial

Services

4

.0

%

Mastercard,

Inc.,

Class

A

38,370

17,792,553

Visa,

Inc.,

Class

A(a)

38,370

10,193,758

27,986,311

Health

Care

Equipment

&

Supplies

1

.0

%

Baxter

International,

Inc.

38,370

1,374,413

Boston

Scientific

Corp.*

38,370

2,834,776

Common

Stocks

Shares

Value

($)

Health

Care

Equipment

&

Supplies

Medtronic

plc

38,370

3,081,878

7,291,067

Health

Care

Technology

1

.0

%

Veeva

Systems,

Inc.,

Class

A*

38,370

7,364,354

Household

Durables

1

.0

%

Garmin

Ltd.

38,370

6,570,863

iRobot

Corp.*(a)

38,370

452,382

7,023,245

Industrial

Conglomerates

1

.1

%

Honeywell

International,

Inc.

38,370

7,856,258

Interactive

Media

&

Services

3

.8

%

Alphabet,

Inc.,

Class

A

38,370

6,581,990

Meta

Platforms,

Inc.,

Class

A

38,370

18,219,227

Ziff

Davis,

Inc.*

38,370

1,837,156

26,638,373

IT

Services

3

.2

%

Akamai

Technologies,

Inc.*(a)

38,370

3,771,003

Amdocs

Ltd.

38,370

3,356,224

DXC

Technology

Co.*(a)

38,370

780,446

International

Business

Machines

Corp.

38,370

7,372,412

VeriSign,

Inc.*

38,370

7,175,574

22,455,659

Life

Sciences

Tools

&

Services

6

.3

%

Agilent

Technologies,

Inc.

38,370

5,425,518

Danaher

Corp.

38,370

10,631,559

Illumina,

Inc.*

38,370

4,704,162

Thermo

Fisher

Scientific,

Inc.

38,370

23,533,856

44,295,095

Pharmaceuticals

1

.3

%

AstraZeneca

plc,

ADR-UK

38,370

3,036,985

Bausch

Health

Cos.,

Inc.*(a)

38,370

231,371

Bristol-Myers

Squibb

Co.

38,370

1,824,877

Novartis

AG,

ADR-CH

38,370

4,277,488

9,370,721

Professional

Services

1

.4

%

Automatic

Data

Processing,

Inc.

38,370

10,076,729

Semiconductors

&

Semiconductor

Equipment

26

.9

%

Advanced

Micro

Devices,

Inc.*

38,370

5,543,698

Analog

Devices,

Inc.

38,370

8,878,051

Applied

Materials,

Inc.

38,370

8,142,114

ASML

Holding

NV

(Registered),

ADR-NL

38,370

35,941,179

Broadcom,

Inc.

38,370

6,165,292

FormFactor,

Inc.*(a)

38,370

2,055,097

Intel

Corp.

38,370

1,179,494

KLA

Corp.

38,370

31,581,196

Lam

Research

Corp.

38,370

35,347,979

Microchip

Technology,

Inc.

38,370

3,406,489

Micron

Technology,

Inc.

38,370

4,213,793

NVIDIA

Corp.

38,370

4,490,057

NXP

Semiconductors

NV

38,370

10,097,449

ON

Semiconductor

Corp.*

38,370

3,002,452

QUALCOMM,

Inc.

38,370

6,943,051

Synaptics,

Inc.*(a)

38,370

3,350,468

102

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

NYSE

Arca

Tech

100

Index

Fund

Common

Stocks

Shares

Value

($)

Semiconductors

&

Semiconductor

Equipment

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.,

ADR-TW

38,370

6,361,746

Teradyne,

Inc.

38,370

5,032,609

Texas

Instruments,

Inc.

38,370

7,820,190

189,552,404

Software

23

.3

%

Adeia,

Inc.

38,370

450,848

Adobe,

Inc.*

38,370

21,166,811

Check

Point

Software

Technologies

Ltd.*

38,370

7,038,977

Gen

Digital,

Inc.

38,370

997,236

InterDigital,

Inc.(a)

38,370

4,710,301

Intuit,

Inc.

38,370

24,838,820

LiveRamp

Holdings,

Inc.*

38,370

1,161,844

Microsoft

Corp.

38,370

16,052,089

Open

Text

Corp.

38,370

1,209,806

Oracle

Corp.

38,370

5,350,696

Progress

Software

Corp.

38,370

2,240,808

PTC,

Inc.*

38,370

6,824,105

Salesforce,

Inc.

38,370

9,930,156

SAP

SE,

ADR-DE(a)

38,370

8,119,092

ServiceNow,

Inc.*

38,370

31,248,144

Synopsys,

Inc.*

38,370

21,422,738

Teradata

Corp.*

38,370

1,243,955

164,006,426

Technology

Hardware,

Storage

&

Peripherals

3

.1

%

Apple,

Inc.

38,370

8,521,210

HP,

Inc.

38,370

1,384,773

NetApp,

Inc.

38,370

4,872,223

Seagate

Technology

Holdings

plc

38,370

3,920,263

Western

Digital

Corp.*

38,370

2,572,708

Xerox

Holdings

Corp.(a)

38,370

413,053

21,684,230

Wireless

Telecommunication

Services

0

.1

%

Telephone

&

Data

Systems,

Inc.

38,370

813,444

Total

Common

Stocks

(cost

$226,576,010)

701,625,571

Repurchase

Agreements

2

.2

%

Principal

Amount

($)

CF

Secured,

LLC,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,170,021,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.88%,

maturing

8/15/2024

-

8/15/2053;

total

market

value

$3,233,422.(b)

3,169,550

3,169,550

Repurchase

Agreements

Principal

Amount

($)

Value

($)

HSBC

Securities,

Inc.,

5.32%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$3,000,444,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

4.63%,

maturing

8/15/2025

-

2/15/2045;

total

market

value

$3,060,452.(b)

3,000,000

3,000,000

Santander

US

Capital

Markets,

5.34%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$4,000,594,

collateralized

by

U.S.

Government

Treasury

Securities,

ranging

from

0.00%

-

6.25%,

maturing

8/15/2024

-

2/15/2053;

total

market

value

$4,080,605.(b)

4,000,000

4,000,000

Societe

Generale,

5.33%,

dated

7/31/2024,

due

8/1/2024,

repurchase

price

$5,000,741,

collateralized

by

U.S.

Government

Treasury

Securities,

4.13%,

maturing

7/31/2031;

total

market

value

$5,100,003.

(b)

5,000,000

5,000,000

Total

Repurchase

Agreements

(cost

$15,169,550)

15,169,550

Total

Investments

(cost

$241,745,560)

—

101.8%

716,795,121

Liabilities

in

excess

of

other

assets

—

(1.8)%

(

12,777,897

)

NET

ASSETS

—

100.0%

$

704,017,224

Nationwide

NYSE

Arca

Tech

100

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

103

*

Denotes

a

non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

as

of

July

31,

2024.

The

total

value

of

securities

on

loan

as

of

July

31,

2024

was

$25,777,835,

which

was

collateralized

by

cash

used

to

purchase

repurchase

agreements

with

a

total

value

of

$15,169,550

and

by

$10,986,622

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.13%

–

7.63%,

and

maturity

dates

ranging

from

11/15/2024

–

2/15/2052,

a

total

value

of

$26,156,172.

(b)

Security

was

purchased

with

cash

collateral

held

from

securities

on

loan.

The

total

value

of

securities

purchased

with

cash

collateral

as

of

July

31,

2024

was

$15,169,550.

ADR

American

Depositary

Receipt

CH

Switzerland

CN

China

DE

Germany

FI

Finland

NL

Netherlands

TW

Taiwan

UK

United

Kingdom

Futures

contracts

outstanding

as

of

July

31,

2024:

Description

Number

of

Contracts

Expiration

Date

Trading

Currency

Notional

Amount

($)

Value

and

Unrealized

Appreciation

(Depreciation)

($)

Long

Contracts

NASDAQ

100

E-Mini

Index

7

9/2024

USD

2,730,735

(112,604)

Net

contracts

(112,604)

As

of

July

31,

2024,

the

Fund

had

$174,000

segregated

as

collateral

with

the

broker

for

open

futures

contracts.

Currency:

USD

United

States

Dollar

104

-

Statement

of

Investments

-

July

31,

2024

(Unaudited)

-

Nationwide

NYSE

Arca

Tech

100

Index

Fund

In

accordance

with

the

authoritative

guidance

on

fair

value

measurements

and

disclosures

under

accounting

principles

generally

accepted

in

the

United

States

of

America,

Nationwide

Mutual

Funds'

(the

“Trust”)

investment

adviser

to

the

Fund,

Nationwide

Fund

Advisors

(“NFA”),

assigns

a

fair

value

to

Fund

investments

in

accordance

with

a

hierarchy

that

prioritizes

the

various

types

of

inputs

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

readily

available

unadjusted

quoted

prices

in

active

markets

for

identical

assets

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements)

when

market

prices

are

not

readily

available

or

reliable.

The

three

levels

of

the

hierarchy

are

summarized

as

follows.

Level

1

—

Quoted

prices

in

active

markets

for

identical

assets

Level

2

—

Other

significant

observable

inputs

(including

quoted

prices

of

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

3

—

Significant

unobservable

inputs

(including the

Fund’s

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

into

or

out

of

an

investment’s

assigned

level

within

the

hierarchy.

An

investment’s

categorization

within

the

hierarchy

is

based

on

the

lowest

level

of

any

input

that

is

significant

to

the

fair

valuation

in

its

entirety.

The

inputs

or

methodology

used

to

value

investments

are

not

intended

to

indicate

the

risk

associated

with

investing

in

those

investments.

The

Trust's

Board

of

Trustees

(the

"Board

of

Trustees")

has

delegated

authority

to

NFA,

and

the

Trust’s

administrator,

Nationwide

Fund

Management

LLC

(“NFM”),

to

assign

a

fair

value

under

certain

circumstances,

as

described

below,

pursuant

to

valuation

procedures

approved

by

the

Board

of

Trustees.

NFA

and

NFM

have

established

a

Fair

Valuation

Committee

(“FVC”)

to

assign

these

fair

valuations.

The

fair

value

of

a

security

may

differ

from

its

quoted

or

published

price.

Fair

valuation

of

portfolio

securities

may

occur

on

a

daily

basis.

Securities

may

be

fair

valued

in

certain

circumstances,

such

as

where

(i)

market-based

quotations

are

not

readily

available;

(ii)

an

independent

pricing

service

does

not

provide

a

value

or

the

value

provided

by

an

independent

pricing

service

is

determined

to

be

unreliable

in

the

judgment

of

NFA/NFM

or

its

designee;

(iii)

a

significant

event

has

occurred

that

affects

the

value

of the

Fund’s

securities

after

trading

has

stopped

(e.g.,

earnings

announcements

or

news

relating

to

natural

disasters

affecting

an

issuer’s

operations);

(iv)

the

securities

are

illiquid;

(v)

the

securities

have

defaulted

or

been

delisted

from

an

exchange

and

are

no

longer

trading;

or

(vi)

any

other

circumstance

in

which

the

FVC

believes

that

market-based

quotations

do

not

accurately

reflect

the

value

of

a

security.

The

FVC

will

assign

a

fair

value

according

to

fair

value

methodologies.

Information

utilized

by

the

FVC

to

obtain

a

fair

value

may

include,

among

others,

the

following:

(i)

a

multiple

of

earnings;

(ii)

the

discount

from

market

value

of

a

similar,

freely

traded

security;

(iii)

the

yield-to-maturity

for

debt

issues;

or

(iv)

a

combination

of

these

and

other

methods.

Fair

valuations

may

also

take

into

account

significant

events

that

occur

before

Valuation

Time

but

after

the

close

of

the

principal

market

on

which

a

security

trades

that

materially

affect

the

value

of

such

security.

To

arrive

at

the

appropriate

methodology,

the

FVC

may

consider

a

non-exclusive

list

of

factors,

which

are

specific

to

the

security,

as

well

as

whether

the

security

is

traded

on

the

domestic

or

foreign

markets.

The

FVC

monitors

the

results

of

fair

valuation

determinations

and

regularly

reports

the

results

to

the

Board

of

Trustees.

The

Fund

attempts

to

establish

a

price

that

it

might

reasonably

expect

to

receive

upon

the

current

sale

of

that

security.

That

said,

there

can

be

no

assurance

that

the

fair

value

assigned

to

a

security

is

the

price

at

which

a

security

could

have

been

sold

during

the

period

in

which

the

particular

fair

value

was

used

to

value

the

security.

To

the

extent

the

significant inputs

used

are

observable,

these

securities

are

classified

as

Level

2

investments;

otherwise,

they

are

classified

as

Level

3

investments

within

the

hierarchy.

Equity

securities

listed

on

a

non-U.S.

exchange

(“non-U.S.

securities”)

are

generally

fair

valued

daily

by

an

independent

fair

value

pricing

service

approved

by

the

Board

of

Trustees.

The

fair

valuations

for

non-U.S.

securities

may

not

be

the

same

as

quoted

or

published

prices

of

the

securities

on

the

exchange

on

which

such

securities

trade.

Such

securities

are

categorized

as

Level

2

investments

within

the

hierarchy.

If

daily

fair

value

prices

from

the

independent

fair

value

pricing

service

are

not

available,

such

non-U.S.

securities

are

generally

valued

at

the

last

quoted

sale

price

at

the

close

of

an

exchange

on

which

the

security

is

traded

and

categorized

as

Level

1

investments

within

the

hierarchy.

Values

of

foreign

securities,

currencies,

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

of

said

currencies

against

the

U.S.

dollar,

as

of

Valuation

Time,

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees.

Nationwide

NYSE

Arca

Tech

100

Index

Fund

-

July

31,

2024

(Unaudited)

-

Statement

of

Investments

-

105

The

following

is

a

summary

of

the

Fund’s

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024.

Please

see

below

for

information

on

the

Fund’s

policy

regarding

the

objectives

and

strategies

for

using

financial

futures

contracts.

(a)

Futures

Contracts  

The

Fund

is

subject

to

equity

price

and/or

interest

rate

risk

in

the

normal

course

of

pursuing

its

objective.

The Fund

entered

into

financial

futures

contracts

(“futures

contracts”)

to

manage

currency

risk,

to

equitize

cash

balances,

to

more

efficiently

manage

the

portfolio,

to

modify

exposure

to

volatility,

to

increase

or

decrease

the

baseline

equity

exposure,

to

gain

exposure

to

and/or

hedge

against

changes

in

interest

rates,

for

the

purpose

of

managing

active

risk

in

the

portfolio,

to

gain

exposure

to

and/or

hedge

against

the

value

of

equities

and/or

to

gain

exposure

to

foreign

currencies,

as

applicable,

to

meet

the

Fund's

stated

investment

strategies

as

shown

in

the

Fund's

Prospectus.

Futures

contracts

are

contracts

for

delayed

delivery

of

securities

or

currencies

at

a

specific

future

date

and

at

a

specific

price

or

currency

amount.

Upon

entering

into

a

futures

contract, the

Fund

is

required

to

segregate

an

initial

margin

deposit

of

cash

and/or

other

assets

equal

to

a

certain

percentage

of

the

futures

contract’s

notional

value.

Under

a

futures

contract, the

Fund

agrees

to

receive

from

or

pay

to

a

broker

an

amount

of

cash

equal

to

the

daily

fluctuation

in

value

of

the

futures

contract.

Subsequent

receipts

or

payments,

known

as

“variation

margin”

receipts

or

payments,

are

made

each

day,

depending

on

the

fluctuation

in

the

fair

value

of

the

futures

contract,

and

are

recognized

by the

Fund

as

unrealized

gains

or

losses.

Futures

contracts

are

generally

valued

daily

at

their

settlement

price

as

provided

by

an

independent

pricing

service

approved

by

the

Board

of

Trustees,

and

are

generally

categorized

as

Level

1

investments

within

the

hierarchy.

A

“sale”

of

a

futures

contract

means

a

contractual

obligation

to

deliver

the

securities

or

foreign

currency

called

for

by

the

contract

at

a

fixed

price

or

amount

at

a

specified

time

in

the

future.

A

“purchase”

of

a

futures

contract

means

a

contractual

obligation

to

acquire

the

securities

or

foreign

currency

at

a

fixed

price

at

a

specified

time

in

the

future.

When

a

futures

contract

is

closed, the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

futures

contract

at

the

time

it

was

opened

and

its

value

at

the

time

it

was

closed.

Should

market

conditions

change

unexpectedly, the

Fund

may

not

achieve

the

anticipated

benefits

of

futures

contracts

and

may

realize

a

loss.

The

use

of

futures

contracts

for

hedging

purposes

involves

the

risk

of

imperfect

correlation

in

the

movements

in

the

price

of

the

futures

contracts

and

the

underlying

assets. The

Fund’s

investments

in

futures

contracts

entail

limited

counterparty

credit

risk

because the

Fund

invests

only

in

exchange

traded

futures

contracts,

which

are

settled

through

the

exchange

and

whose

fulfillment

is

guaranteed

by

the

credit

of

the

exchange.

The

following

is

a

summary

of

the

Fund's

derivative

instruments

categorized

by

risk

exposure

as

of

July

31,

2024

:

Fair

Values

of

Derivatives

Not

Accounted

for

as

Hedging

Instruments

as

of

July

31,

2024:

The

following

table

provides

a

summary

of

the

inputs

used

to

value

the

Fund’s

net

assets

as

of

July

31,

2024.

Please

refer

to

the

Statement

of

Investments

for

additional

information

on

portfolio

holdings.

Level

1

Level

2

Level

3

Total

Assets:

Common

Stocks

$

701,625,571

$

–

$

–

$

701,625,571

Repurchase

Agreements

–

15,169,550

–

15,169,550

Total

Assets

$

701,625,571

$

15,169,550

$

–

$

716,795,121

Liabilities:

Futures

Contracts

$

(

112,604

)

$

–

$

–

$

(

112,604

)

Total

Liabilities

$

(

112,604

)

$

–

$

–

$

(

112,604

)

Total

$

701,512,967

$

15,169,550

$

–

$

716,682,517

Liabilities:

Fair

Value

Futures

Contracts

Equity

risk

Unrealized

depreciation

from

futures

contracts

$

(

112,604

)

Total

$

(

112,604

)

The

Statement

of

Investments

should

be

read

in

conjunction

with

the

financial

statements

and

notes

to

financial

statements

which

are

included

in

the

Fund’s

audited

annual

report

and

unaudited

semi-annual

report.