nvq

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-08821

Rydex Variable Trust

(Exact name of registrant as specified in charter)

805 King Farm Boulevard, Suite 600
Rockville, Maryland 20850

(Address of principal executive offices) (Zip code)

Richard, M. Goldman, President
Rydex Variable Trust
805 King Farm Boulevard, Suite 600
Rockville, Maryland 20850

(Name and address of agent for service)

Registrant’s telephone number, including area code: 301-296-5100

Date of fiscal year end: December 31

Date of reporting period: March 31, 2011

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments.


Schedule of Investments		Asset Allocation Funds
March 31, 2011 (Unaudited)		All-Asset Conservative Strategy Fund


	Shares		Value
MUTUAL FUNDS^†,1 - 77.2%
SBL Fund — Series E (U.S. Intermediate Bond Series) *		175,495	$	2,288,449
RVT — U.S. Long Short Momentum Fund*		71,819		983,916
RVT — Multi-Hedge Strategies Fund*		44,397		954,098
SBL Fund — Series P (High Yield Series)*		33,862		939,659
SBL Fund — Series B (Large Cap Value Series)*		21,253		588,067
SBL Fund — Series Y (Large Cap Concentrated Growth Series)*		55,305		586,787
RSF — Long Short Interest Rate Strategy Fund — H Class		19,975		498,766
RSF — Event Driven and Distressed Strategies Fund — H Class		13,955		374,819
SBL Fund — Series D (Global Series)*		26,249		276,668
RSF — Alternative Strategies Fund — H Class		9,794		249,444
RSF — Long Short Equity Strategy Fund — H Class		7,192		190,934
SBL Fund — Series V (Mid Cap Value Series)*		2,830		179,085
SBL Fund — Series J (Mid Cap Growth Series)*		5,636		177,351
RSF — Long/Short Commodities Strategy Fund - H Class		3,664		100,205
RVT — Real Estate Fund		2,485		69,834
SBL Fund — Series Q (Small Cap Value Series)*		1,435		53,153
SBL Fund — Series X (Small Cap Growth Series)*		2,603		53,146
RVT — Commodities Strategy Fund^*		3,271		48,941

Total Mutual Funds (Cost $7,291,028)				8,613,322


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,2 - 22.4%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	2,497,899	$	2,497,899

Total Repurchase Agreement (Cost $2,497,899)				2,497,899


Total Investments - 99.6% (Cost $9,788,927)			$	11,111,221
Cash & Other Assets, Less Liabilities - 0.4%				46,079

Total Net Assets - 100.0%			$	11,157,300


			Unrealized
	Contracts		Gain (Loss)
FUTURES CONTRACTS PURCHASED^†
June 2011 MSCI EAFE Index Mini Futures Contracts (Aggregate Value of Contracts $252,945)		3	$	7,805
June 2011 S&P 500 Index Mini Futures Contracts (Aggregate Value of Contracts $462,438)		7		7,802
June 2011 U.S. Treasury 5 Year Note Futures Contracts (Aggregate Value of Contracts $1,049,695)		9		(2,795	)

(Total Aggregate Value of Contracts $1,765,078)			$	12,812


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Affiliated security.

2		Repurchase Agreement — See Note 2.

RSF		Rydex Series Funds

RVT		Rydex Variable Trust

SBL		Security Benefit Life


Schedule of Investments		Asset Allocation Funds
March 31, 2011 (Unaudited)		All-Asset Moderate Strategy Fund


	Shares		Value
MUTUAL FUNDS^† - 79.9%
SBL Fund — Series E (U.S. Intermediate Bond Series)*		301,377	$	3,929,957
RVT — U.S. Long Short Momentum Fund^*		176,802		2,422,193
SBL Fund — Series Y (Large Cap Concentrated Growth Series)*		155,611		1,651,032
SBL Fund — Series B (Large Cap Value Series)*		59,272		1,640,064
SBL Fund — Series D (Global Series)*		146,117		1,540,078
RVT — Multi-Hedge Strategies Fund*		57,653		1,238,954
RSF — Long Short Interest Rate Strategy Fund — H Class		37,497		936,298
RSF — Event Driven and Distressed Strategies Fund — H Class		22,811		612,714
SBL Fund — Series V (Mid Cap Value Series)*		8,054		509,553
SBL Fund — Series J (Mid Cap Growth Series)*		16,177		509,079
RSF — Long Short Equity Strategy Fund — H Class		13,149		349,102
RSF — Alternative Strategies Fund — H Class		13,695		348,818
SBL Fund — Series P (High Yield Series)*		11,732		325,564
RSF — Long/Short Commodities Strategy Fund - H Class		10,977		300,221
SBL Fund — Series X (Small Cap Growth Series)*		10,345		211,245
SBL Fund — Series Q (Small Cap Value Series)*		5,657		209,519
RVT — Commodities Strategy Fund^*		11,854		177,333
RVT — Real Estate Fund		3,606		101,336


Total Mutual Funds (Cost $14,088,047)				17,013,060


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,2-18.8%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	4,007,328	$	4,007,328

Total Repurchase Agreement
(Cost $4,007,328)				4,007,328


Total Investments - 98.7% (Cost $18,095,375)			$	21,020,388
Cash & Other Assets, Less Liabilities - 1.3%				276,794

Total Net Assets - 100.0%			$	21,297,182


			Unrealized
	Contracts		Gain (Loss)
FUTURES CONTRACTS PURCHASED^†
June 2011 S&P 500 Index Mini Futures Contracts (Aggregate Value of Contracts $2,114,000)		32	$	29,757
June 2011 MSCI EAFE Index Mini Futures Contracts (Aggregate Value of Contracts $421,575)		5		4,747
June 2011 U.S. Treasury 5 Year Note Futures Contracts (Aggregate Value of Contracts $933,063)		8		(3,570	)

(Total Aggregate Value of Contracts $3,468,638)			$	30,934


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Affiliated security.

2		Repurchase Agreement — See Note 2.

RSF		Rydex Series Funds

RVT		Rydex Variable Trust

SBL		Security Benefit Life


Schedule of Investments		Asset Allocation Funds
March 31, 2011 (Unaudited)		All-Asset Aggressive Strategy Fund


	Shares		Value
MUTUAL FUNDS^† - 84.0%
RVT — U.S. Long Short Momentum Fund^*		80,092	$	1,097,257
SBL Fund — Series D (Global Series)*		80,710		850,679
SBL Fund — Series Y (Large Cap Concentrated Growth Series)*		74,532		790,783
SBL Fund — Series B (Large Cap Value Series)*		28,186		779,908
SBL Fund — Series E (U.S. Intermediate Bond Series)*		57,525		750,122
RSF — Long Short Interest Rate Strategy Fund — H Class		15,309		382,255
RVT — Multi-Hedge Strategies Fund^*		14,822		318,535
SBL Fund — Series J (Mid Cap Growth Series)*		7,572		238,289
SBL Fund — Series V (Mid Cap Value Series)*		3,762		238,020
RSF — Event Driven and Distressed Strategies Fund — H Class		7,479		200,873
RSF — Long Short Equity Strategy Fund — H Class		4,683		124,323
RSF — Alternative Strategies Fund — H Class		4,833		123,107
SBL Fund — Series X (Small Cap Growth Series)*		5,865		119,760
SBL Fund — Series Q (Small Cap Value Series)*		3,210		118,895
RSF — Long/Short Commodities Strategy Fund - H Class		3,766		103,011
RVT — Commodities Strategy Fund*		5,365		80,265
SBL Fund — Series P (High Yield Series)*		2,531		70,234
RVT — Real Estate Fund		863		24,262


Total Mutual Funds (Cost $5,049,955)				6,410,578


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,2 - 15.2%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	1,157,930	$	1,157,930

Total Repurchase Agreement (Cost $1,157,930)				1,157,930


Total Investments - 99.2% (Cost $6,207,885)			$	7,568,508
Cash & Other Assets, Less Liabilities - 0.8%				63,414

Total Net Assets - 100.0%			$	7,631,921


			Unrealized
	Contracts		Gain (Loss)
FUTURES CONTRACTS PURCHASED^†
June 2011 S&P 500 Index Mini Futures Contracts (Aggregate Value of Contracts $924,875)		14	$	14,017
June 2011 U.S. Treasury 5 Year Note Futures Contracts (Aggregate Value of Contracts $116,633)		1		(1,443	)

(Total Aggregate Value of Contracts $1,041,508)			$	12,574


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Affiliated security.

2		Repurchase Agreement — See Note 2.

RSF		Rydex Series Funds

RVT		Rydex Variable Trust

SBL		Security Benefit Life


Schedule of Investments		CLS AdvisorOne Funds
March 31, 2011 (Unaudited)		Select Allocation Fund


	Shares		Value
COMMON STOCKS^† - 0.6%
Financials - 0.6%
Berkshire Hathaway, Inc. — Class B^*		2,710	$	226,637


Total Common Stocks
(Cost $157,597)				226,637

EXCHANGE TRADED FUNDS^† - 87.7%
United States of America - 60.9%
SPDR S&P 500 ETF Trust		24,400		3,233,244
iShares S&P 500 Index Fund		16,800		2,234,568
SPDR S&P MidCap 400 ETF Trust		11,900		2,136,645
SPDR Barclays Capital High Yield Bond ETF		45,000		1,822,050
iShares iBoxx $ High Yield Corporate Bond Fund		19,800		1,820,808
Vanguard Total Stock Market ETF		20,500		1,408,555
Vanguard Mid-Capital ETF		16,200		1,304,910
Vanguard Small-Capital ETF		16,200		1,279,638
Vanguard Large-Capital ETF		20,700		1,257,939
Vanguard Extended Market ETF		16,200		956,772
iShares Russell 1000 Growth Index Fund		13,700		828,439
Vanguard Growth ETF		11,800		758,740
Powershares QQQ Trust Series 1		12,600		723,618
iShares Russell 2000 Index Fund		8,300		698,611
SPDR Dow Jones Industrial Average ETF Trust		5,500		676,610
iShares Russell Midcap Index Fund		6,000		653,940
Energy Select Sector SPDR Fund		7,200		574,632
SPDR S&P Biotech ETF		7,200		480,744
Vanguard Value ETF		8,400		476,448
iShares S&P MidCap 400 Index Fund		4,400		434,456
RevenueShares Large Capital ETF		16,900		424,866
iShares Barclays Credit Bond Fund		3,700		386,095
iShares Diversified Alternatives Trust		5,871		298,423
Technology Select Sector SPDR Fund		9,000		234,630
Industrial Select Sector SPDR Fund		3,700		139,416
PowerShares DB Base Metals Fund		4,500		109,890
iShares Nasdaq Biotechnology Index Fund		900		90,144
PowerShares DB Oil Fund		2,700		87,102
iShares S&P Global 100 Index Fund		900		58,815
SPDR S&P Oil & Gas Exploration & Production ETF		900		58,050
SPDR S&P Oil & Gas Equipment & Services ETF		900		39,573
Health Care Select Sector SPDR Fund		1,000		33,130
iShares iBoxx Investment Grade Corporate Bond Fund		200		21,640
iShares Barclays Intermediate Credit Bond Fund		200		21,062
Vanguard Intermediate-Term Corporate Bond ETF		200		15,776
SPDR Barclays Capital Intermediate Term Corporate Bond ETF		200		6,540

Total United States of America				25,786,519

International - 10.1%
Vanguard MSCI Emerging Markets ETF		44,300		2,167,156
iShares MSCI Emerging Markets Index Fund		29,000		1,412,010
SPDR S&P BRIC 40 ETF		19,500		575,250
SPDR S&P Emerging Markets SmallCap ETF		2,000		107,720

Total International				4,262,136

Latin American Region - 3.9%
iShares S&P Latin America 40 Index Fund		30,800		1,656,732

China - 3.8%
SPDR S&P China ETF		12,600		1,012,410
iShares FTSE China 25 Index Fund		7,200		323,712
iShares S&P Asia 50 Index Fund		5,400		258,336

Total China				1,594,458

Global - 3.1%
iShares S&P Global Materials Sector Index Fund		5,000		373,000
iShares S&P Global Energy Sector Index Fund		8,100		359,802
Market Vectors Coal ETF		6,300		319,536
iShares S&P Global Industrials Sector Index Fund		3,700		213,823

Total Global				1,266,161

Asian Pacific Region ex Japan - 2.8%
iShares MSCI Pacific ex-Japan Index Fund		17,500		845,600
iShares MSCI All Country Asia ex Japan Index Fund		5,400		340,092

Total Asian Pacific Region ex Japan				1,185,692

Asian Pacific Region - 1.6%
SPDR S&P Emerging Asia Pacific ETF		7,200		613,296
Vanguard MSCI Pacific ETF		1,800		100,494

Total Asian Pacific Region				713,790

Canada - 1.4%
iShares MSCI Canada Index Fund		18,200		612,248

Europe - 0.1%
Vanguard MSCI European ETF		900		46,755


Total Exchange Traded Funds
(Cost $31,759,606)				37,124,491

MUTUAL FUNDS - 1.3%
First American Treasury Obligations Fund^††		551,424		551,424


Total Mutual Funds
(Cost $551,424)				551,424


Schedule of Investments		CLS AdvisorOne Funds
March 31, 2011 (Unaudited)		Select Allocation Fund


	Face
	Amount		Value
CORPORATE BONDS^†† - 10.5%
Materials — 3.3%
Alcoa, Inc.
5.87% due 02/23/22	$	626,000	$	640,615
6.75% due 07/15/18		257,000		284,558
Chevron Phillips Chemical Company LLC
8.25% due 06/15/19^1,2		352,000		420,257
Freeport-McMoRan Copper & Gold, Inc.
8.38% due 04/01/17		45,000		49,612

				1,395,042

Financials — 2.6%
Mutual of Omaha Insurance Co.
6.80% due 06/15/36^1,2		460,000		465,499
HSBC Finance Corporation
7.00% due 05/15/12		310,000		329,709
Goldman Sachs Group, Inc.
5.95% due 01/15/27		310,000		311,535

				1,106,743

Consumer Discretionary — 1.7%
Nordstrom, Inc.
7.00% due 01/15/38		593,000		702,749

Health Care — 1.0%
Agilent Technologies, Inc.
6.50% due 11/01/17		368,000		410,542

Information Technology - 0.7%
Corning, Inc.
7.25% due 08/15/36		270,000		308,252

Consumer Staples - 0.7%
Bunge, Ltd. Finance Corp.
8.50% due 06/15/19		235,000		279,054

Energy - 0.5%
Sunoco, Inc.
4.88% due 10/15/14		216,000		230,805



Total Corporate Bonds (Cost $3,604,204)			$	4,433,187

U.S. GOVERNMENT SECURITIES^† - 0.3%
U.S. Treasury Notes
0.88% due 02/29/12		50,000		50,262
1.00% due 10/31/11		50,000		50,230
0.75% due 11/30/11		50,000		50,174

Total U.S. Government Securities
(Cost $150,237)				150,666


Total Investments - 100.4% (Cost $36,223,068)			$	42,486,405
Liabilities, Less Cash & Other Assets — (0.4)%				(165,256)

Total Net Assets - 100.0%			$	42,321,149


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Security was acquired through a private placement.

2		Security is a 144A or Section 4(2) security. The total market value of 144A or Section 4(2) securities is $885,756 (cost $762,797), or 2.1% of total net assets.


Schedule of Investments		CLS AdvisorOne Funds
March 31, 2011 (Unaudited)		Amerigo Fund


	Shares		Value
EXCHANGE TRADED FUNDS^† - 100.0%
United States of America - 72.3%
SPDR S&P 500 ETF Trust		134,700	$	17,849,097
Vanguard Mid-Capital ETF		172,900		13,927,095
iShares Russell Midcap Index Fund		91,900		10,016,181
iShares Russell 1000 Growth Index Fund		150,100		9,076,547
iShares S&P 500 Index Fund		66,400		8,831,864
Powershares QQQ Trust Series 1		153,200		8,798,276
Vanguard Small-Capital ETF		95,300		7,527,747
Vanguard Large-Capital ETF		105,200		6,393,004
SPDR S&P MidCap 400 ETF Trust		35,400		6,356,070
SPDR Dow Jones Industrial Average ETF Trust		51,400		6,323,228
Vanguard Extended Market ETF		100,100		5,911,906
Energy Select Sector SPDR Fund		68,100		5,435,061
iShares Russell Midcap Growth Index Fund		89,200		5,433,172
iShares Russell 2000 Index Fund		60,600		5,100,702
Vanguard Total Stock Market ETF		72,800		5,002,088
iShares S&P 100 Index Fund		68,000		4,033,760
iShares S&P MidCap 400 Index Fund		28,700		2,833,838
RevenueShares Large Capital ETF		105,500		2,652,270
Vanguard Value ETF		28,100		1,593,832
Financial Select Sector SPDR Fund		93,600		1,535,976
iShares Russell 1000 Value Index Fund		16,800		1,153,656
Vanguard Dividend Appreciation ETF		20,100		1,115,952
Health Care Select Sector SPDR Fund		16,800		556,584

Total United States of America				137,457,906

International - 9.1%
Vanguard MSCI Emerging Markets ETF		170,000		8,316,400
iShares MSCI Emerging Markets Index Fund		125,600		6,115,464
SPDR S&P BRIC 40 ETF		51,000		1,504,500
Vanguard FTSE All-World ex-US ETF — Class U		27,000		1,331,640

Total International				17,268,004

China - 5.8%
SPDR S&P China ETF		88,300		7,094,905
iShares FTSE China 25 Index Fund		88,300		3,969,968

Total China				11,064,873

Latin American Region - 2.6%
iShares S&P Latin America 40 Index Fund		92,600		4,980,954


Asian Pacific Region - 2.3%
SPDR S&P Emerging Asia Pacific ETF		51,000		4,344,180


Asian Pacific Region ex Japan - 1.6%
iShares MSCI All Country Asia ex Japan Index Fund		37,400		2,355,452
iShares MSCI Pacific ex-Japan Index Fund		16,500		797,280

Total Asian Pacific Region ex Japan				3,152,732

Canada - 1.5%
iShares MSCI Canada Index Fund		82,100		2,761,844


Global - 1.4%
iShares S&P Global 100 Index Fund		41,000		2,679,350


Germany - 1.3%
iShares MSCI Germany Index Fund		91,800		2,382,210


Sweden - 1.1%
iShares MSCI Sweden Index Fund		64,600		2,118,234


Europe - 0.5%
Vanguard MSCI European ETF		18,600		966,270


Switzerland - 0.5%
iShares MSCI Switzerland Index Fund		34,000		859,860



Total Exchange Traded Funds (Cost $159,872,191)				190,036,417

EXCHANGE TRADED NOTES^† - 0.4%
Barclays ETN+long C note		5,100		735,675


Total Exchange Traded Notes (Cost $708,808)				735,675


MUTUAL FUNDS^† - 0.6%
First American Treasury Obligations Fund		1,086,207		1,086,207


Total Mutual Funds (Cost $1,086,207)				1,086,207


Total Investments - 101.0% (Cost $161,667,206)			$	191,858,299
Liabilities, Less Cash & Other Assets — (1.0)%				(1,882,324)

Total Net Assets - 100.0%			$	189,975,975


†		Value determined based on Level 1 inputs — See Note 3.


Schedule of Investments		CLS AdvisorOne Funds
March 31, 2011 (Unaudited)		Clermont Fund


	Shares		Value
COMMON STOCKS^† - 0.8%
Financials - 0.8%
Berkshire Hathaway, Inc. — Class B^*		7,760	$	648,969


Total Common Stocks (Cost $590,216)				648,969

EXCHANGE TRADED FUNDS^† - 87.5%
United States of America - 75.3%
iShares Barclays Credit Bond Fund		75,100		7,836,685
SPDR S&P 500 ETF Trust		52,800		6,996,528
iShares iBoxx $ High Yield Corporate Bond Fund		56,900		5,232,524
iShares iBoxx Investment Grade Corporate Bond Fund		44,400		4,804,080
SPDR Barclays Capital High Yield Bond ETF		88,200		3,571,218
Vanguard Total Bond Market ETF		43,800		3,504,876
SPDR S&P MidCap 400 ETF Trust		14,700		2,639,385
Vanguard Total Stock Market ETF		37,000		2,542,270
iShares S&P 500 Index Fund		17,300		2,301,073
Vanguard Mid-Capital ETF		25,600		2,062,080
iShares Diversified Alternatives Trust		39,793		2,022,678
Vanguard Small-Capital ETF		22,500		1,777,275
Vanguard Large-Capital ETF		26,900		1,634,713
SPDR Dow Jones Industrial Average ETF Trust		13,100		1,611,562
Vanguard Extended Market ETF		25,600		1,511,936
iShares Russell Midcap Index Fund		12,600		1,373,274
Powershares QQQ Trust Series 1		22,100		1,269,203
iShares Russell 1000 Growth Index Fund		14,100		852,627
Vanguard Value ETF		13,800		782,736
Energy Select Sector SPDR Fund		9,400		750,214
Vanguard Dividend Appreciation ETF		13,200		732,864
Vanguard Intermediate-Term Corporate Bond ETF		7,800		615,264
RevenueShares Large Capital ETF		21,900		550,566
iShares Russell 2000 Index Fund		6,300		530,271
iShares Barclays Intermediate Credit Bond Fund		4,700		494,957
iShares S&P MidCap 400 Index Fund		4,600		454,204
iShares S&P 100 Index Fund		6,300		373,716
SPDR Barclays Capital Intermediate Term Corporate Bond ETF		6,600		215,820
PIMCO Enhanced Short Maturity Strategy Fund		1,300		131,209
iShares Barclays 1-3 Year Credit Bond Fund — Class 3		900		93,996
Vanguard Intermediate-Term Bond ETF		1,000		81,980
Vanguard Short-Term Corporate Bond ETF		900		69,687
iShares Barclays 3-7 Year Treasury Bond Fund — Class 7		300		34,254
iShares Barclays Aggregate Bond Fund		300		31,539
iShares Barclays 7-10 Year Treasury Bond Fund		300		27,903
SPDR Barclays Capital Short Term Corporate Bond ETF		900		27,297
Vanguard Long-Term Corporate Bond ETF		300		22,998
SPDR Barclays Capital Aggregate Bond ETF		300		16,629
iShares 10+ Year Credit Bond Fund		300		15,723
SPDR Barclays Capital Long Term Credit Bond ETF		300		10,529
iShares S&P 500 Growth Index Fund		100		6,870
iShares S&P 500 Value Index Fund		100		6,331

Total United States of America				59,621,544

International - 7.9%
Vanguard MSCI Emerging Markets ETF		69,000		3,375,480
iShares S&P Global 100 Index Fund		18,700		1,222,045
Vanguard FTSE All-World ex-US ETF — Class U		18,700		922,284
Vanguard Short-Term Bond ETF		3,100		248,496
Vanguard Total World Stock Index Fund ETF		4,700		234,342
iShares MSCI Emerging Markets Index Fund		3,100		150,939

Total International				6,153,586

Asian Pacific Region - 1.7%
SPDR S&P Emerging Asia Pacific ETF		12,600		1,073,268
Vanguard MSCI Pacific ETF		4,700		262,401

Total Asian Pacific Region				1,335,669

Asian Pacific Region ex Japan - 1.0%
iShares MSCI All Country Asia ex Japan Index Fund		12,600		793,548

Europe - 0.6%
Vanguard MSCI European ETF		9,500		493,525

Latin American Region - 0.6%
iShares S&P Latin America 40 Index Fund		8,700		467,973

Germany - 0.4%
iShares MSCI Germany Index Fund		12,500		324,375


Total Exchange Traded Funds (Cost $60,575,488)				69,190,220


Schedule of Investments		CLS AdvisorOne Funds
March 31, 2011 (Unaudited)		Clermont Fund


	Shares		Value
MUTUAL FUND^† — 2.4%
First American Treasury Obligation Fund		1,891,827		1,891,827

Total Mutual Fund				1,891,827


	Face
	Amount		Value
CORPORATE BONDS^†† - 7.2%
Financials — 2.2%
Mutual of Omaha Insurance Co.
6.80% due 06/15/36^1,2	$	725,000	$	733,667
HSBC Finance Corporation
7.00% due 05/15/12		482,000		512,645
Goldman Sachs Group, Inc.
5.95% due 01/15/27		482,000		484,387

				1,730,699

Materials — 1.7%
Alcoa, Inc.
5.87% due 02/23/22		793,000		811,514
Chevron Phillips Chemical Company LLC
8.25% due 06/15/19^1,2		416,000		496,667
Freeport-McMoRan Copper & Gold, Inc.
8.38% due 04/01/17		50,000		55,125

				1,363,306

Energy — 1.0%
Enogex LLC
6.25% due 03/15/20^1,2		520,000		558,486
Sunoco, Inc.
4.88% due 10/15/14		237,000		253,245

				811,731

Health Care - 0.8%
Agilent Technologies, Inc.
6.50% due 11/01/17		577,000		643,702

Utilities - 0.7%
Westar Energy, Inc.
6.00% due 07/01/14		468,000		513,872

Industrials - 0.4%
Timken Co.
6.00% due 09/15/14		300,000		330,913

Consumer Staples - 0.4%
Bunge, Ltd. Finance Corp.
8.50% due 06/15/19		274,000		325,365

Total Corporate Bonds (Cost $5,050,506)			$	5,719,588

U.S. GOVERNMENT SECURITIES^† - 0.8%
U.S. Treasury Notes
0.88% due 02/29/12		100,000		100,523
0.88% due 01/31/12		100,000		100,496
1.00% due 10/31/11		100,000		100,461
1.00% due 09/30/11		100,000		100,402
0.75% due 11/30/11		100,000		100,348
0.88% due 05/31/11		100,000		100,125

Total U.S. Government Securities (Cost $600,867)				602,355


Total Investments - 98.7% (Cost $68,708,904)			$	78,052,959
Cash & Other Assets, Less Liabilities - 1.3%				1,044,655

Total Net Assets - 100.0%			$	79,097,614


Schedule of Investments March 31, 2011 (Unaudited)		Sector Funds Precious Metals Fund


	Shares		Value
COMMON STOCKS^† - 100.0%
Materials - 100.0%
Freeport-McMoRan Copper & Gold, Inc. - Class B		210,119	$	11,672,111
Silver Wheaton Corp.		166,199		7,206,389
Newmont Mining Co.		125,330		6,840,511
Barrick Gold Corp.		131,131		6,807,010
Goldcorp, Inc.		116,942		5,823,712
Agnico-Eagle Mines Ltd.		64,738		4,295,366
Hecla Mining Co.^*		408,598		3,710,070
Kinross Gold Corp.		227,476		3,582,747
AngloGold Ashanti Ltd. ADR		67,191		3,221,809
Yamana Gold, Inc.		246,209		3,030,833
Coeur d’Alene Mines Corp.^*		86,523		3,009,270
Randgold Resources Ltd. ADR^*		36,258		2,956,477
Southern Copper Co.		72,481		2,918,810
Stillwater Mining Co.^*		124,696		2,859,279
Novagold Resources, Inc.^*		216,055		2,808,715
Eldorado Gold Corp.		165,393		2,689,290
Pan American Silver Corp.		72,188		2,680,340
IAMGOLD Corp.		119,506		2,631,522
Gold Fields Ltd. ADR		142,306		2,484,663
Titanium Metals Corp.^*		130,853		2,431,249
Cia de Minas Buenaventura S.A. ADR		54,734		2,351,920
Silver Standard Resources, Inc.^*		65,718		2,062,231
Silvercorp Metals, Inc.		135,249		1,970,578
Harmony Gold Mining Company Ltd. ADR		127,356		1,893,784
New Gold, Inc.^*		160,880		1,883,905
Royal Gold, Inc.		32,151		1,684,712
Allied Nevada Gold Corp.^*		44,548		1,580,563
US Gold Corp.^*		158,300		1,397,789
Gammon Gold, Inc.^*		123,863		1,294,368
Fronteer Gold, Inc.^*		68,940		1,038,926
Rare Element Resources Ltd.^*		70,050		922,559
North American Palladium Ltd.^*		127,600		828,124
Seabridge Gold, Inc.^*		24,970		794,545
Jaguar Mining, Inc.^*		126,538		660,528
Northgate Minerals Corp.^*		200,790		542,133
Golden Star Resources Ltd.^*		177,470		527,086

Total Materials				105,093,924

Total Common Stocks (Cost $48,742,588)				105,093,924


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.9%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	981,500	$	981,500

Total Repurchase Agreement (Cost $981,500)				981,500


Total Investments - 100.9% (Cost $49,724,088)			$	106,075,424
Liabilities, Less Cash & Other Assets - (0.9)%				(964,606	)

Total Net Assets - 100.0%			$	105,110,818


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt


Schedule of Investments March 31, 2011 (Unaudited)		Sector Funds Energy Fund


	Shares		Value
COMMON STOCKS^† - 99.5%
Energy - 99.5%
Exxon Mobil Corp.		45,039	$	3,789,131
Chevron Corp.		25,102		2,696,708
Schlumberger Ltd.		22,502		2,098,537
ConocoPhillips		24,577		1,962,719
Occidental Petroleum Corp.		16,555		1,729,832
Petroleo Brasileiro S.A. ADR		34,164		1,381,251
Apache Corp.		10,296		1,347,952
Halliburton Co.		25,938		1,292,750
Anadarko Petroleum Corp.		14,552		1,192,100
Marathon Oil Corp.		21,574		1,150,110
Devon Energy Corp.		12,324		1,130,973
National Oilwell Varco, Inc.		13,017		1,031,858
Baker Hughes, Inc.		14,008		1,028,607
EOG Resources, Inc.		8,466		1,003,306
Hess Corp.		11,736		1,000,025
Transocean Ltd.^*		11,942		930,879
Chesapeake Energy Corp.		24,545		822,748
Williams Companies, Inc.		25,246		787,170
Spectra Energy Corp.		28,696		779,957
BP plc ADR		17,594		776,599
Weatherford International Ltd.^*		34,337		776,016
Peabody Energy Corp.		10,636		765,367
Noble Energy, Inc.		7,714		745,558
Valero Energy Corp.		24,966		744,486
Murphy Oil Corp.		9,296		682,512
Southwestern Energy Co.^*		15,729		675,875
El Paso Corp.		36,342		654,156
Suncor Energy, Inc.		14,532		651,615
Cameron International Corp.^*		11,377		649,627
Continental Resources, Inc.^*		8,767		626,577
Noble Corp.		13,660		623,169
FMC Technologies, Inc.^*		6,485		612,703
Pioneer Natural Resources Co.		5,943		605,711
Diamond Offshore Drilling, Inc.		7,675		596,347
Newfield Exploration Co.^*		7,765		590,218
Concho Resources, Inc.^*		5,444		584,141
Denbury Resources, Inc.^*		23,598		575,791
Cimarex Energy Co.		4,991		575,163
Consol Energy, Inc.		10,706		574,163
Nabors Industries Ltd.^*		18,141		551,124
Range Resources Corp.		9,185		536,955
Royal Dutch Shell plc ADR		7,341		534,865
Whiting Petroleum Corp.^*		7,245		532,145
Total S.A. ADR		8,677		529,037
Ensco plc ADR		9,135		528,368
EQT Corp.		10,275		512,723
Canadian Natural Resources Ltd.		10,228		505,570
Encana Corp.		14,585		503,620
Helmerich & Payne, Inc.		7,290		500,750
Pride International, Inc.^*		11,579		497,318
Massey Energy Co.		7,120		486,723
Petrohawk Energy Corp.^*		19,687		483,119
QEP Resources, Inc.		11,855		480,602
Alpha Natural Resources, Inc.^*		8,084		479,947
Ultra Petroleum Corp.^*		9,706		478,021
Cameco Corp. - Class A		15,526		466,401
McDermott International, Inc.^*		17,957		455,928
Tenaris S.A. ADR		9,136		451,867
SandRidge Energy, Inc.^*		34,993		447,910
Rowan Companies, Inc.^*		9,717		429,297
Arch Coal, Inc.		11,896		428,732
Oceaneering International, Inc.^*		4,713		421,578
Cabot Oil & Gas Corp.		7,933		420,211
PetroChina Company Ltd. ADR		2,739		417,013
Sunoco, Inc.		9,098		414,778
Talisman Energy, Inc.		16,420		405,574
Nexen, Inc.		16,256		405,100
CNOOC Ltd. ADR		1,577		399,044
Plains Exploration & Production Co.^*		10,974		397,588
Cenovus Energy, Inc.		10,015		394,391
Core Laboratories N.V.		3,858		394,172
Brigham Exploration Co.^*		10,468		389,200
Patterson-UTI Energy, Inc.		13,191		387,683
EXCO Resources, Inc.		18,737		387,106
SM Energy Co.		5,124		380,150
Oil States International, Inc.^*		4,928		375,218
Dresser-Rand Group, Inc.^*		6,983		374,428
RPC, Inc.		14,650		370,938
Forest Oil Corp.^*		9,716		367,556
Tesoro Corp.^*		13,070		350,668
Southern Union Co.		12,116		346,760
Superior Energy Services, Inc.^*		8,401		344,441
CARBO Ceramics, Inc.		2,400		338,688
Holly Corp.		5,400		328,104
Frontier Oil Corp.		11,100		325,452
Dril-Quip, Inc.^*		4,112		324,971
Tidewater, Inc.		5,332		319,120
InterOil Corp.^*		4,250		317,220
Unit Corp.^*		5,100		315,945
World Fuel Services Corp.		7,700		312,697
Atwood Oceanics, Inc.^*		6,700		311,081
Oasis Petroleum, Inc.^*		9,600		303,552
Quicksilver Resources, Inc.^*		19,955		285,556

Total Energy				62,689,412

Total Common Stocks (Cost $37,487,759)				62,689,412


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	333,291	$	333,291

Total Repurchase Agreement (Cost $333,291)				333,291


Total Investments - 100.0% (Cost $37,821,050)			$	63,022,703
Cash & Other Assets, Less Liabilities - 0.0%				12,567

Total Net Assets - 100.0%			$	63,035,270


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments March 31, 2011 (Unaudited)		Sector Funds Financial Services Fund


	Shares		Value
COMMON STOCKS^† - 100.0%
Financials - 100.0%
Berkshire Hathaway, Inc. — Class B^*		3,197	$	267,365
JPMorgan Chase & Co.		5,541		255,440
Wells Fargo & Co.		7,563		239,747
Bank of America Corp.		15,728		209,654
Goldman Sachs Group, Inc.		1,121		177,645
American International Group, Inc.^*		4,157		146,077
American Express Co.		3,060		138,312
U.S. Bancorp		5,013		132,494
MetLife, Inc.		2,947		131,819
BlackRock, Inc. — Class A		603		121,209
Morgan Stanley		4,395		120,071
Bank of New York Mellon Corp.		3,823		114,193
Simon Property Group, Inc.		998		106,946
PNC Financial Services Group, Inc.		1,675		105,508
Prudential Financial, Inc.		1,705		104,994
Franklin Resources, Inc.		823		102,941
Aflac, Inc.		1,852		97,749
Travelers Companies, Inc.		1,564		93,027
Charles Schwab Corp.		4,929		88,870
State Street Corp.		1,964		88,262
ACE Ltd.		1,364		88,251
CME Group, Inc. — Class A		291		87,751
Capital One Financial Corp.		1,684		87,501
Public Storage		745		82,628
T. Rowe Price Group, Inc.		1,220		81,032
BB&T Corp.		2,920		80,154
Chubb Corp.		1,305		80,010
Itau Unibanco Holding S.A. ADR		3,323		79,918
Loews Corp.		1,819		78,381
Allstate Corp.		2,409		76,558
AON Corp.		1,443		76,421
Vornado Realty Trust		860		75,250
Equity Residential		1,325		74,743
Marsh & McLennan Companies, Inc.		2,503		74,614
Banco Bradesco S.A. ADR		3,560		73,870
Ameriprise Financial, Inc.		1,191		72,746
General Growth Properties, Inc.		4,640		71,827
SunTrust Banks, Inc.		2,448		70,600
Discover Financial Services		2,895		69,827
HCP, Inc.		1,834		69,582
Progressive Corp.		3,289		69,497
Boston Properties, Inc.		726		68,861
Hartford Financial Services Group, Inc.		2,540		68,402
Annaly Capital Management, Inc.		3,870		67,532
ICICI Bank Ltd. ADR		1,351		67,320
TD Ameritrade Holding Corp.		3,194		66,659
Northern Trust Corp.		1,296		65,772
Fifth Third Bancorp		4,690		65,097
Invesco Ltd.		2,543		64,999
Weyerhaeuser Co.		2,640		64,944
Host Hotels & Resorts, Inc.		3,679		64,787
HSBC Holdings plc ADR		1,203		62,315
HDFC Bank Ltd. ADR		360		61,178
M&T Bank Corp.		688		60,867
Principal Financial Group, Inc.		1,880		60,367
AvalonBay Communities, Inc.		494		59,320
ProLogis		3,691		58,982
Toronto-Dominion Bank		662		58,647
Banco Santander Brasil S.A. ADR		4,760		58,358
Lincoln National Corp.		1,933		58,067
Banco Santander S.A. ADR		4,924		57,709
Leucadia National Corp.		1,529		57,399
Royal Bank of Canada		918		56,888
Health Care REIT, Inc.		1,078		56,530
Manulife Financial Corp.		3,188		56,396
Brookfield Properties Corp.		3,180		56,350
Ventas, Inc.		1,031		55,983
IntercontinentalExchange, Inc.^*		453		55,964
Regions Financial Corp.		7,615		55,285
Deutsche Bank AG		934		55,171
NYSE Euronext		1,567		55,111
SLM Corp.^*		3,546		54,254
CIT Group, Inc.^*		1,275		54,251
CB Richard Ellis Group, Inc. — Class A^*		2,023		54,014
XL Group plc — Class A		2,192		53,923
China Life Insurance Company Ltd. ADR		958		53,696
Credit Suisse Group AG ADR		1,258		53,566
Credicorp Ltd.		510		53,514
Unum Group		2,038		53,498
Moody’s Corp.		1,565		53,069
UBS AG		2,931		52,905
Barclays plc ADR		2,907		52,733
CNA Financial Corp.		1,770		52,304
KeyCorp		5,869		52,117
Kimco Realty Corp.		2,829		51,884
New York Community Bancorp, Inc.		2,878		49,674
Genworth Financial, Inc. — Class A^*		3,660		49,264
Plum Creek Timber Company, Inc.		1,122		48,930
AMB Property Corp.		1,324		47,624
Affiliated Managers Group, Inc.^*		434		47,467
Macerich Co.		958		47,450
Comerica, Inc.		1,290		47,369
SL Green Realty Corp.		622		46,774
PartnerRe Ltd.		575		45,563
Legg Mason, Inc.		1,258		45,401
Lazard Ltd. — Class A		1,085		45,114
Digital Realty Trust, Inc.		751		43,663
Huntington Bancshares, Inc.		6,574		43,651
Everest Re Group Ltd.		494		43,561
Cincinnati Financial Corp.		1,319		43,263
Nationwide Health Properties, Inc.		1,016		43,211
Torchmark Corp.		648		43,079
Rayonier, Inc.		680		42,371
Federal Realty Investment Trust		519		42,330
NASDAQ OMX Group, Inc.^*		1,623		41,938
Hudson City Bancorp, Inc.		4,312		41,740
Arch Capital Group Ltd.^*		415		41,164
Axis Capital Holdings Ltd.		1,163		40,612
SEI Investments Co.		1,691		40,381
Jefferies Group, Inc.		1,616		40,303
MSCI, Inc. — Class A^*		1,093		40,244
W.R. Berkley Corp.		1,244		40,069
People’s United Financial, Inc.		3,152		39,652
Alexandria Real Estate Equities, Inc.		507		39,531
UDR, Inc.		1,610		39,236
Jones Lang LaSalle, Inc.		390		38,899
Realty Income Corp.		1,109		38,760


Schedule of Investments		Sector Funds
March 31, 2011 (Unaudited)		Health Care Fund


	Shares		Value
COMMON STOCKS^† - 100.0%
Health Care - 100.0%
Johnson & Johnson		8,352	$	494,856
Pfizer, Inc.		23,741		482,180
Merck & Company, Inc.		12,144		400,873
Abbott Laboratories		6,958		341,290
UnitedHealth Group, Inc.		6,214		280,873
Teva Pharmaceutical Industries Ltd. ADR		5,382		270,015
Alcon, Inc.		1,629		269,616
Bristol-Myers Squibb Co.		9,957		263,163
Amgen, Inc.^*		4,916		262,760
Medtronic, Inc.		6,587		259,198
Eli Lilly & Co.		7,062		248,370
Gilead Sciences, Inc.^*		5,387		228,624
Baxter International, Inc.		4,102		220,565
Express Scripts, Inc. - Class A^*		3,806		211,652
WellPoint, Inc.		2,906		202,810
Celgene Corp.^*		3,518		202,391
Covidien plc		3,741		194,308
Medco Health Solutions, Inc.^*		3,446		193,527
Stryker Corp.		3,102		188,602
Thermo Fisher Scientific, Inc.^*		3,328		184,870
Allergan, Inc.		2,519		178,899
McKesson Corp.		2,205		174,305
Genzyme Corp.^*		2,232		169,967
Biogen Idec, Inc.^*		2,249		165,054
St. Jude Medical, Inc.		3,209		164,493
Becton Dickinson and Co.		2,062		164,176
Agilent Technologies, Inc.^*		3,530		158,073
Aetna, Inc.		4,107		153,725
Cardinal Health, Inc.		3,593		147,780
Intuitive Surgical, Inc.^*		419		139,720
CIGNA Corp.		3,109		137,666
Valeant Pharmaceuticals International, Inc.		2,730		135,981
Humana, Inc.^*		1,934		135,264
Zimmer Holdings, Inc.^*		2,192		132,682
AmerisourceBergen Corp. - Class A		3,330		131,735
Boston Scientific Corp.^*		18,140		130,427
Novartis AG ADR		2,325		126,364
Quest Diagnostics, Inc.		2,179		125,772
Vertex Pharmaceuticals, Inc.^*		2,611		125,145
Mylan, Inc.^*		5,491		124,481
Forest Laboratories, Inc.^*		3,757		121,351
Illumina, Inc.^*		1,730		121,221
Hospira, Inc.^*		2,196		121,219
Life Technologies Corp.^*		2,310		121,090
Edwards Lifesciences Corp.^*		1,391		121,017
Laboratory Corporation of America Holdings^*		1,301		119,861
Alexion Pharmaceuticals, Inc.^*		1,213		119,699
Cerner Corp.^*		1,068		118,762
CR Bard, Inc.		1,138		113,015
DaVita, Inc.^*		1,320		112,873
Waters Corp.^*		1,292		112,275
Varian Medical Systems, Inc.^*		1,647		111,403
Sanofi-Aventis S.A. ADR		3,142		110,661
GlaxoSmithKline plc ADR		2,875		110,429
Perrigo Co.		1,336		106,239
Watson Pharmaceuticals, Inc.^*		1,855		103,899
AstraZeneca plc ADR		2,250		103,770
Henry Schein, Inc.^*		1,440		101,045
CareFusion Corp.^*		3,480		98,136
Warner Chilcott plc - Class A		4,169		97,054
Dendreon Corp.^*		2,498		93,500
Beckman Coulter, Inc.		1,110		92,208
Hologic, Inc.^*		4,120		91,464
DENTSPLY International, Inc.		2,472		91,439
Mettler-Toledo International, Inc.^*		530		91,160
Human Genome Sciences, Inc.^*		3,218		88,334
Endo Pharmaceuticals Holdings, Inc.^*		2,285		87,196
Coventry Health Care, Inc.^*		2,720		86,741
Universal Health Services, Inc. - Class B		1,736		85,776
QIAGEN N.V.^*		4,255		85,313
Regeneron Pharmaceuticals, Inc.^*		1,830		82,240
ResMed, Inc.^*		2,728		81,840
IDEXX Laboratories, Inc.^*		1,057		81,622
Patterson Companies, Inc.		2,394		77,063
Kinetic Concepts, Inc.^*		1,410		76,732
Bruker Corp.^*		3,680		76,728
United Therapeutics Corp.^*		1,136		76,135
Community Health Systems, Inc.^*		1,895		75,781
Tenet Healthcare Corp.^*		10,130		75,468
Allscripts Healthcare Solutions, Inc.^*		3,595		75,459
Brookdale Senior Living, Inc. - Class A^*		2,640		73,920
Omnicare, Inc.		2,458		73,715
SXC Health Solutions Corp.^*		1,340		73,432
Alere, Inc.^*		1,860		72,800
Cooper Companies, Inc.		1,040		72,228
Bio-Rad Laboratories, Inc. - Class A^*		590		70,883
Talecris Biotherapeutics Holdings Corp.^*		2,640		70,752
Gen-Probe, Inc.^*		1,060		70,331
Mednax, Inc.^*		1,055		70,274
Health Net, Inc.^*		2,145		70,141
Pharmaceutical Product Development, Inc.		2,501		69,303
Covance, Inc.^*		1,259		68,892
PerkinElmer, Inc.		2,566		67,409
BioMarin Pharmaceutical, Inc.^*		2,590		65,087
Lincare Holdings, Inc.		2,183		64,748
Hill-Rom Holdings, Inc.		1,650		62,667
Salix Pharmaceuticals Ltd.^*		1,569		54,962
Cephalon, Inc.^*		707		53,576

Total Health Care				13,464,590

Total Common Stocks (Cost $8,764,829)				13,464,590


Schedule of Investments		Sector Funds
March 31, 2011 (Unaudited)		Technology Fund


	Shares		Value
COMMON STOCKS^† - 99.5%
Information Technology - 98.7%
Apple, Inc.^*		1,854	$	646,026
Microsoft Corp.		20,544		520,996
International Business Machines Corp.		3,174		517,584
Google, Inc. - Class A^*		848		497,106
Oracle Corp.		14,448		482,130
Intel Corp.		18,693		377,038
Cisco Systems, Inc.		20,383		349,568
QUALCOMM, Inc.		6,283		344,497
Hewlett-Packard Co.		7,976		326,777
EMC Corp.^*		10,007		265,686
Visa, Inc. - Class A		3,475		255,829
Baidu, Inc. ADR^*		1,840		253,570
Infosys Technologies Ltd. ADR		3,320		238,044
Accenture plc - Class A		4,297		236,206
Texas Instruments, Inc.		6,677		230,757
eBay, Inc.^*		7,350		228,144
VMware, Inc. - Class A^*		2,628		214,287
Mastercard, Inc. - Class A		810		203,893
Corning, Inc.		9,718		200,482
Dell, Inc.^*		13,303		193,027
Research In Motion Ltd.^*		3,262		184,531
Cognizant Technology Solutions Corp. - Class A^*		2,252		183,313
Automatic Data Processing, Inc.		3,565		182,920
Yahoo!, Inc.^*		10,351		172,344
Sina Corp.^*		1,593		170,515
Juniper Networks, Inc.^*		4,049		170,382
Applied Materials, Inc.		10,450		163,229
Broadcom Corp. - Class A		4,110		161,852
Salesforce.com, Inc.^*		1,150		153,617
Nokia Oyj ADR		17,758		151,121
Adobe Systems, Inc.^*		4,546		150,745
Taiwan Semiconductor Manufacturing Company Ltd. ADR		12,304		149,863
MercadoLibre, Inc.		1,830		149,383
NetApp, Inc.^*		3,094		149,069
Intuit, Inc.^*		2,792		148,255
TE Connectivity Ltd.		4,150		144,503
ARM Holdings plc ADR		5,060		142,540
Sohu.com, Inc.^*		1,580		141,189
Motorola Solutions, Inc.^*		3,132		139,969
Symantec Corp.^*		7,535		139,699
ASML Holding N.V. - Class G		3,137		139,597
Xerox Corp.		13,025		138,716
Citrix Systems, Inc.^*		1,862		136,783
Altera Corp.		3,095		136,242
SAP AG ADR		2,217		136,035
Trina Sola Ltd. ADR^*		4,506		135,721
Telefonaktiebolaget LM Ericsson ADR		10,408		133,847
Activision Blizzard, Inc.		11,990		131,530
Western Union Co.		6,250		129,813
CA, Inc.		5,243		126,776
Analog Devices, Inc.		3,143		123,771
Micron Technology, Inc.^*		10,661		122,175
SanDisk Corp.^*		2,636		121,493
LDK Solar Company Ltd. ADR^*		9,920		121,421
Paychex, Inc.		3,831		120,140
Autodesk, Inc.^*		2,697		118,965
Check Point Software Technologies Ltd.^*		2,327		118,793
NVIDIA Corp.^*		6,405		118,236
Fidelity National Information Services, Inc.		3,511		114,775
Marvell Technology Group Ltd.^*		7,252		112,769
Red Hat, Inc.^*		2,474		112,295
Amphenol Corp. - Class A		2,008		109,215
Western Digital Corp.^*		2,927		109,148
Fiserv, Inc.^*		1,739		109,070
BMC Software, Inc.^*		2,176		108,234
Xilinx, Inc.		3,164		103,779
Teradata Corp.^*		2,040		103,428
F5 Networks, Inc.^*		990		101,544
Maxim Integrated Products, Inc.		3,960		101,376
KLA-Tencor Corp.		2,135		101,135
Linear Technology Corp.		2,969		99,847
Avago Technologies Ltd.		3,210		99,831
Computer Sciences Corp.		2,034		99,117
Atmel Corp.^*		7,216		98,354
Lam Research Corp.^*		1,730		98,022
Microchip Technology, Inc.		2,534		96,317
Akamai Technologies, Inc.^*		2,470		93,860
Seagate Technology plc^*		6,500		93,600
Motorola Mobility Holdings, Inc.^*		3,769		91,964
Trimble Navigation Ltd.^*		1,817		91,831
Harris Corp.		1,842		91,363
Skyworks Solutions, Inc.^*		2,797		90,679
Nuance Communications, Inc.^*		4,601		89,996
Electronic Arts, Inc.^*		4,607		89,975
VeriSign, Inc.		2,459		89,040
SAIC, Inc.^*		5,229		88,475
Advanced Micro Devices, Inc.^*		10,115		86,989
Flextronics International Ltd.^*		11,489		85,823
Amdocs Ltd.^*		2,961		85,425
Dolby Laboratories, Inc. - Class A^*		1,730		85,133
FLIR Systems, Inc.		2,450		84,795
Riverbed Technology, Inc.^*		2,220		83,583
Avnet, Inc.^*		2,446		83,384
Rovi Corp.^*		1,538		82,514
JDS Uniphase Corp.^*		3,820		79,609
Cree, Inc.^*		1,615		74,548
Equinix, Inc.^*		814		74,155

Total Information Technology				15,735,737

Industrials - 0.8%
First Solar, Inc.^*		780		125,455



Total Common Stocks (Cost $8,377,630)				15,861,192


Schedule of Investments		Sector Funds
March 31, 2011 (Unaudited)		Basic Materials Fund


	Shares		Value
COMMON STOCKS^† - 99.7%
Materials - 98.5%
Barrick Gold Corp.		19,425	$	1,008,352
E. I. du Pont de Nemours & Co.		17,945		986,437
Freeport-McMoRan Copper & Gold, Inc. - Class B		17,306		961,348
Dow Chemical Co.		24,903		940,088
Goldcorp, Inc.		17,800		886,440
Monsanto Co.		12,159		878,609
Vale S.A. - Class B ADR		25,004		833,883
Mosaic Co.		10,354		815,378
Praxair, Inc.		7,632		775,411
Southern Copper Co.		19,174		772,137
Potash Corporation of Saskatchewan, Inc.		12,607		742,931
Newmont Mining Co.		13,452		734,210
Air Products & Chemicals, Inc.		6,893		621,611
Alcoa, Inc.		34,945		616,779
AngloGold Ashanti Ltd. ADR		12,635		605,848
Kinross Gold Corp.		38,007		598,610
Silver Wheaton Corp.		12,913		559,908
PPG Industries, Inc.		5,826		554,693
Cliffs Natural Resources, Inc.		5,352		525,995
International Paper Co.		17,289		521,782
Nucor Corp.		11,274		518,829
Gold Fields Ltd. ADR		28,517		497,907
BHP Billiton Ltd. ADR		5,124		491,289
Ecolab, Inc.		9,418		480,506
Cia de Minas Buenaventura S.A. ADR		10,978		471,725
Agnico-Eagle Mines Ltd.		6,929		459,739
CF Industries Holdings, Inc.		3,141		429,657
Rio Tinto plc ADR		5,904		419,892
Sherwin-Williams Co.		4,970		417,430
Yamana Gold, Inc.		33,740		415,339
LyondellBasell Industries N.V. - Class A^*		10,070		398,269
Walter Energy, Inc.		2,890		391,393
Sigma-Aldrich Corp.		6,113		389,031
Molycorp, Inc.^*		6,460		387,729
Randgold Resources Ltd. ADR^*		4,733		385,929
Teck Resources Ltd. - Class B		7,261		384,978
Celanese Corp. - Class A		8,586		380,961
ArcelorMittal		10,521		380,334
Agrium, Inc.		4,081		376,513
Eastman Chemical Co.		3,763		373,741
Allegheny Technologies, Inc.		5,481		371,173
United States Steel Co.		6,859		369,974
Lubrizol Corp.		2,652		355,262
Ball Corp.		9,826		352,262
Crown Holdings, Inc.^*		9,105		351,271
Cemex SAB de CV ADR^*		38,777		346,278
Vulcan Materials Co.		7,556		344,554
FMC Corp.		4,042		343,287
Cia Siderurgica Nacional S.A. ADR		20,487		341,313
Albemarle Corp.		5,675		339,195
Gerdau S.A. ADR		27,100		338,750
Airgas, Inc.		5,077		337,214
MeadWestvaco Corp.		10,545		319,830
Mechel ADR		10,371		319,323
Owens-Illinois, Inc.^*		10,384		313,493
Ivanhoe Mines Ltd.^*		11,390		312,769
International Flavors & Fragrances, Inc.		5,019		312,684
IAMGOLD Corp.		13,885		305,748
Novagold Resources, Inc.^*		23,200		301,600
POSCO ADR		2,626		300,126
Sealed Air Corp.		10,833		288,808
Silvercorp Metals, Inc.		19,810		288,632
Martin Marietta Materials, Inc.		3,200		286,944
Reliance Steel & Aluminum Co.		4,954		286,242
Eldorado Gold Corp.		17,602		286,209
Pan American Silver Corp.		7,687		285,418
Huntsman Corp.		16,364		284,406
Ashland, Inc.		4,870		281,291
Domtar Corp.		3,055		280,388
Steel Dynamics, Inc.		14,561		273,310
Nalco Holding Co.		9,981		272,581
Westlake Chemical Corp.		4,850		272,570
Coeur d’Alene Mines Corp.^*		7,834		272,467
Valspar Corp.		6,948		271,667
Sonoco Products Co.		7,466		270,493
Rockwood Holdings, Inc.^*		5,495		270,464
Scotts Miracle-Gro Co. - Class A		4,645		268,713
Smurfit-Stone Container Corp.^*		6,890		266,299
Bemis Company, Inc.		8,070		264,777
Allied Nevada Gold Corp.^*		7,380		261,842
Aptargroup, Inc.		5,190		260,175
Titanium Metals Corp.^*		13,677		254,119
Solutia, Inc.^*		9,987		253,670
RPM International, Inc.		10,481		248,714
Packaging Corporation of America		8,471		244,727
Compass Minerals International, Inc.		2,604		243,552
WR Grace & Co.^*		6,253		239,427
Hecla Mining Co.^*		26,363		239,376
Rock-Tenn Co. - Class A		3,445		238,911
Cabot Corp.		5,160		238,856
Temple-Inland, Inc.		9,938		232,549
Silver Standard Resources, Inc.^*		7,370		231,271
Silgan Holdings, Inc.		6,020		229,603
Stillwater Mining Co.^*		9,921		227,489
Royal Gold, Inc.		4,339		227,364
Cytec Industries, Inc.		4,168		226,614
Intrepid Potash, Inc.^*		6,503		226,434
Commercial Metals Co.		11,428		197,362
Thompson Creek Metals Company, Inc.^*		15,330		192,238
Schnitzer Steel Industries, Inc. - Class A		2,860		185,929
AK Steel Holding Corp.		11,049		174,353

Total Materials				40,414,001

Financials - 1.2%
Weyerhaeuser Co.		20,093		494,288



Total Common Stocks (Cost $24,754,009)				40,908,289


Schedule of Investments March 31, 2011(Unaudited)		Sector Funds Consumer Products Fund


	Shares		Value
COMMON STOCKS† - 99.6%
Consumer Staples - 99.6%
Procter & Gamble Co.		15,147	$	933,055
Coca-Cola Co.		13,664		906,606
Philip Morris International, Inc.		12,045		790,513
PepsiCo, Inc.		11,137		717,334
Altria Group, Inc.		20,856		542,882
Kraft Foods, Inc. - Class A		16,811		527,193
Colgate-Palmolive Co.		5,646		455,971
Kimberly-Clark Corp.		5,571		363,619
Archer-Daniels-Midland Co.		9,549		343,860
General Mills, Inc.		9,382		342,912
Reynolds American, Inc.		9,410		334,337
Estee Lauder Companies, Inc. - Class A		3,369		324,637
Kellogg Co.		5,822		314,272
Lorillard, Inc.		2,997		284,745
Sysco Corp.		10,153		281,238
HJ Heinz Co.		5,722		279,348
Kroger Co.		11,394		273,114
Mead Johnson Nutrition Co. - Class A		4,349		251,938
Avon Products, Inc.		9,072		245,307
Whole Foods Market, Inc.		3,654		240,799
Hershey Co.		4,423		240,390
Sara Lee Corp.		13,561		239,623
Bunge Ltd.		3,309		239,340
ConAgra Foods, Inc.		9,852		233,985
Campbell Soup Co.		6,880		227,797
Brown-Forman Corp. - Class B		3,333		227,644
Clorox Co.		3,132		219,459
Coca-Cola Enterprises, Inc.		8,020		218,946
Molson Coors Brewing Co. - Class B		4,628		217,007
Safeway, Inc.		8,957		210,848
JM Smucker Co.		2,915		208,102
Green Mountain Coffee Roasters, Inc.^*		3,209		207,334
Cia de Bebidas das Americas ADR		7,250		205,248
Dr Pepper Snapple Group, Inc.		5,402		200,738
Tyson Foods, Inc. - Class A		10,216		196,045
Hormel Foods Corp.		6,956		193,655
Unilever N.V.		5,767		180,853
Hansen Natural Corp.^*		2,817		169,668
Church & Dwight Company, Inc.		2,100		166,614
Energizer Holdings, Inc.^*		2,333		166,016
Herbalife Ltd.		1,955		159,059
Constellation Brands, Inc. - Class A^*		7,761		157,393
McCormick & Company, Inc.		3,239		154,921
Smithfield Foods, Inc.^*		6,292		151,386
Diageo plc ADR		1,912		145,733
Fomento Economico Mexicano SAB de CV ADR		2,436		142,993
Corn Products International, Inc.		2,744		142,194
Anheuser-Busch InBev N.V. ADR		2,466		140,981
Ralcorp Holdings, Inc.^*		2,051		140,350
Alberto-Culver Co. - Class B		3,660		136,408
BRF — Brasil Foods S.A. ADR		7,100		135,539
Nestle S.A. ADR		2,240		128,755
Flowers Foods, Inc.		4,132		112,514
United Natural Foods, Inc.^*		2,417		108,330
TreeHouse Foods, Inc.^*		1,820		103,503
SUPERVALU, Inc.		11,440		102,159
Darling International, Inc.^*		6,530		100,366
Ruddick Corp.		2,580		99,562
Nu Skin Enterprises, Inc. - Class A		3,374		97,003
Dean Foods Co.^*		9,510		95,100
Casey’s General Stores, Inc.		2,273		88,647
Hain Celestial Group, Inc.^*		2,690		86,833

Total Consumer Staples				15,652,721

Total Common Stocks (Cost $10,485,252)				15,652,721

WARRANT†† - 0.0%
Consumer Discretionary - 0.0%
Krispy Kreme Doughnuts, Inc.
$12.21, 03/02/12		17		3

Total Warrant (Cost $—)				3


	Face
	Amount		Value
REPURCHASE AGREEMENT ††,1 - 0.4%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	54,178	$	54,178

Total Repurchase Agreement (Cost $54,178)				54,178


Total Investments - 100.0% (Cost $10,539,430)			$	15,706,902
Cash & Other Assets, Less Liabilities - 0.0%				3,051

Total Net Assets - 100.0%			$	15,709,952


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments March 31, 2011 (Unaudited)		Sector Funds Leisure Fund


	Shares		Value
COMMON STOCKS† - 100.1%
Consumer Discretionary - 95.9%
Walt Disney Co.		8,501	$	366,308
McDonald’s Corp.		4,681		356,177
Comcast Corp. - Class A		13,229		327,021
News Corp. - Class A^*		15,838		278,115
Time Warner, Inc.		6,904		246,473
DIRECTV - Class A^*		5,151		241,067
Las Vegas Sands Corp.^*		5,643		238,247
Thomson Reuters Corp.		5,790		227,200
Carnival Corp.		5,792		222,181
Viacom, Inc. - Class B		4,636		215,667
Starbucks Corp.		5,786		213,793
Time Warner Cable, Inc. - Class A		2,787		198,825
Yum! Brands, Inc.		3,739		192,110
CBS Corp. - Class B		6,640		166,266
Wynn Resorts Ltd.		1,278		162,626
Discovery Communications, Inc. - Class A^*		4,056		161,834
Marriott International, Inc. - Class A		3,926		139,687
McGraw-Hill Companies, Inc.		3,523		138,806
Starwood Hotels & Resorts Worldwide, Inc.		2,254		131,002
DISH Network Corp. - Class A^*		5,255		128,012
Harley-Davidson, Inc.		2,965		125,983
Liberty Global, Inc. - Class A^*		3,021		125,100
Cablevision Systems Corp. - Class A		3,530		122,173
Virgin Media, Inc.		4,278		118,886
Royal Caribbean Cruises Ltd.^*		2,874		118,581
Mattel, Inc.		4,668		116,373
Chipotle Mexican Grill, Inc. - Class A^*		425		115,757
Scripps Networks Interactive, Inc. - Class A		2,284		114,406
Darden Restaurants, Inc.		2,136		104,942
MGM Resorts International^*		7,694		101,176
Hasbro, Inc.		2,142		100,331
Liberty Media Corp.- Capital^*		1,342		98,865
Ctrip.com International Ltd. ADR^*		2,370		98,331
Wyndham Worldwide Corp.		2,971		94,508
International Game Technology		5,454		88,518
Grupo Televisa S.A. ADR^*		3,602		88,357
Imax Corp.^*		2,680		85,706
Melco Crown Entertainment Ltd. - Class Participation Certificate ADR^*		10,930		83,068
Panera Bread Co. - Class A^*		636		80,772
Gannett Company, Inc.		5,008		76,272
Liberty Media Corp. Starz^*		972		75,427
Hyatt Hotels Corp. - Class A^*		1,730		74,459
Washington Post Co. - Class B		164		71,760
Penn National Gaming, Inc.^*		1,872		69,376
Polaris Industries, Inc.		782		68,050
DreamWorks Animation SKG, Inc. - Class A^*		2,277		63,597
Brunswick Corp.		2,444		62,151
Brinker International, Inc.		2,414		61,074
Cinemark Holdings, Inc.		3,093		59,850
Bally Technologies, Inc.^*		1,530		57,911
Regal Entertainment Group - Class A		4,109		55,471
WMS Industries, Inc.^*		1,564		55,287
Cheesecake Factory, Inc.^*		1,778		53,500
Live Nation Entertainment, Inc.^*		5,302		53,020
Vail Resorts, Inc.^*		1,066		51,978
Gaylord Entertainment Co.^*		1,422		49,315
New York Times Co. - Class A^*		5,206		49,301
Life Time Fitness, Inc.^*		1,317		49,137
Orient-Express Hotels Ltd. - Class A^*		3,943		48,775
Meredith Corp.		1,435		48,675
Valassis Communications, Inc.^*		1,667		48,576
Texas Roadhouse, Inc. - Class A		2,760		46,892
Madison Square Garden, Inc. - Class A^*		1,610		43,454
Cracker Barrel Old Country Store, Inc.		858		42,162
Jack in the Box, Inc.^*		1,854		42,049

Total Consumer Discretionary				7,810,769

Information Technology - 4.2%
Activision Blizzard, Inc.		13,315		146,066
Electronic Arts, Inc.^*		5,115		99,896
RealD, Inc.^*		1,870		51,163
Take-Two Interactive Software, Inc.^*		2,927		44,988

Total Information Technology				342,113

Total Common Stocks (Cost $4,673,770)				8,152,882

WARRANT†† - 0.0%
Consumer Discretionary - 0.0%
Krispy Kreme Doughnuts, Inc.
$12.21, 03/02/12		311		53

Total Warrant (Cost $—)				53


	Face
	Amount		Value
REPURCHASE AGREEMENT††,1 - 0.7%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	54,674	$	54,674

Total Repurchase Agreement (Cost $54,674)				54,674

Total Investments - 100.8% (Cost $4,728,444)			$	8,207,609
Liabilities, Less Cash & Other Assets - (0.8)%				(61,704	)

Total Net Assets - 100.0%			$	8,145,905


Schedule of Investments March 31, 2011 (Unaudited)		Sector Funds Retailing Fund


	Shares		Value
COMMON STOCKS^† - 100.2%
Consumer Discretionary - 83.7%
Amazon.com, Inc.^*		1,473	$	265,332
Home Depot, Inc.		5,956		220,729
Lowe’s Companies, Inc.		6,324		167,143
Target Corp.		3,262		163,133
Priceline.com, Inc.^*		287		145,348
TJX Companies, Inc.		2,479		123,281
Kohl’s Corp.		2,055		108,997
Staples, Inc.		5,321		103,334
The Gap, Inc.		4,498		101,925
Bed Bath & Beyond, Inc.^*		2,044		98,664
Netflix, Inc.^*		413		98,017
AutoZone, Inc.^*		356		97,387
Limited Brands, Inc.		2,843		93,478
Nordstrom, Inc.		2,033		91,241
Macy’s, Inc.		3,738		90,684
Best Buy Company, Inc.		3,095		88,888
Dollar General Corp.^*		2,830		88,721
Liberty Media Corp — Interactive^*		5,482		87,931
Sears Holdings Corp.^*		1,024		84,634
Tiffany & Co.		1,352		83,067
Genuine Parts Co.		1,533		82,230
JC Penney Company, Inc.		2,245		80,618
Ross Stores, Inc.		1,133		80,579
O’Reilly Automotive, Inc.^*		1,375		79,008
CarMax, Inc.^*		2,281		73,220
Dollar Tree, Inc.^*		1,299		72,121
Expedia, Inc.		3,059		69,317
Family Dollar Stores, Inc.		1,346		69,077
Abercrombie & Fitch Co. - Class A		1,122		65,861
AutoNation, Inc.^*		1,833		64,833
Advance Auto Parts, Inc.		967		63,455
Dick’s Sporting Goods, Inc.^*		1,535		61,369
Tractor Supply Co.		1,015		60,758
PetSmart, Inc.		1,479		60,565
Urban Outfitters, Inc.^*		1,975		58,914
Signet Jewelers Ltd.^*		1,272		58,537
Guess?, Inc.		1,440		56,664
Williams-Sonoma, Inc.		1,370		55,485
LKQ Corp.^*		2,224		53,598
GameStop Corp. - Class A^*		2,247		50,602
Big Lots, Inc.^*		1,158		50,292
American Eagle Outfitters, Inc.		3,123		49,625
Foot Locker, Inc.		2,492		49,142
Chico’s FAS, Inc.		3,033		45,192
Ascena Retail Group, Inc.^*		1,392		45,115
Ulta Salon Cosmetics & Fragrance, Inc.^*		928		44,665
Sally Beauty Holdings, Inc.^*		3,144		44,047
Dillard’s, Inc. - Class A		1,077		43,209
Rent-A-Center, Inc. - Class A		1,207		42,136
Aeropostale, Inc.^*		1,710		41,587
Buckle, Inc.		994		40,158
Aaron’s, Inc.		1,555		39,435
Penske Automotive Group, Inc.^*		1,964		39,319
HSN, Inc.^*		1,188		38,052
Saks, Inc.^*		3,318		37,527
Cabela’s, Inc.^*		1,493		37,340
Shutterfly, Inc.^*		712		37,280
RadioShack Corp.		2,438		36,594
DSW, Inc. - Class A^*		910		36,364
ANN, Inc.^*		1,197		34,845
Jos A. Bank Clothiers, Inc.^*		682		34,700
Men’s Wearhouse, Inc.		1,251		33,852
Collective Brands, Inc.^*		1,518		32,758
Childrens Place Retail Stores, Inc.^*		635		31,642
Pier 1 Imports, Inc.^*		3,065		31,110
99 Cents Only Stores^*		1,509		29,576
OfficeMax, Inc.^*		2,264		29,296
Group 1 Automotive, Inc.		681		29,147

Total Consumer Discretionary				4,802,750

Consumer Staples - 16.5%
Wal-Mart Stores, Inc.		7,260		377,883
CVS Caremark Corp.		5,624		193,016
Walgreen Co.		4,131		165,818
Costco Wholesale Corp.		2,193		160,791
BJ’s Wholesale Club, Inc.^*		925		45,158

Total Consumer Staples				942,666

Total Common Stocks (Cost $3,243,470)				5,745,416


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.6%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	36,243	$	36,243

Total Repurchase Agreement (Cost $36,243)				36,243

Total Investments - 100.8% (Cost $3,279,713)			$	5,781,659
Liabilities, Less Cash & Other Assets — (0.8)%				(43,933	)

Total Net Assets - 100.0%			$	5,737,726


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2. .


Schedule of Investments March 31, 2011 (Unaudited)		Sector Funds Telecommunication Fund


	Shares		Value
COMMON STOCKS^† - 99.5%
Telecommunication Services – 53.6%
AT&T, Inc.		25,108	$	768,305
Vodafone Group plc ADR		23,702		681,432
Verizon Communications, Inc.		15,387		593,015
American Tower Corp.– Class A^*		4,739		245,575
Crown Castle International Corp.^*		4,562		194,113
CenturyLink, Inc.		4,618		191,878
Sprint Nextel Corp.^*		39,961		185,419
Millicom International Cellular S.A.		1,928		185,416
Qwest Communications International, Inc.		27,136		185,339
Frontier Communications Corp.		18,703		153,739
NII Holdings, Inc.^*		3,566		148,595
America Movil SAB de CV ADR		2,556		148,504
Windstream Corp.		10,671		137,336
MetroPCS Communications, Inc.^*		8,304		134,857
SBA Communications Corp.– Class A^*		2,847		112,969
China Mobile Ltd. ADR		2,407		111,300
Clearwire Corp.– Class A^*		19,587		109,491
Mobile Telesystems OJSC ADR		4,680		99,356
Vivo Participacoes S.A. ADR		2,334		94,247
tw telecom, Inc. - Class A^*		4,813		92,410
Telefonica S.A. ADR		3,314		83,579
China Unicom Hong Kong Ltd. ADR		5,028		83,465
Telephone & Data Systems, Inc.		2,450		82,565
Tele Norte Leste Participacoes S.A. ADR		4,621		81,006
KT Corp ADR		4,100		80,073
SK Telecom Company Ltd. ADR		4,154		78,137
VimpelCom Ltd. ADR		5,531		78,098
Chunghwa Telecom Company Ltd. ADR		2,409		75,064
BCE, Inc.		1,987		72,207
Leap Wireless International, Inc.^*		4,411		68,326

Total Telecommunication Services				5,355,816

Information Technology - 45.9%
Cisco Systems, Inc.		31,390		538,339
QUALCOMM, Inc.		9,669		530,151
Research In Motion Ltd.^*		5,028		284,434
Juniper Networks, Inc.^*		6,224		261,906
Motorola Solutions, Inc.^*		4,815		215,182
Nokia Oyj ADR		19,240		163,732
F5 Networks, Inc.^*		1,520		155,906
Motorola Mobility Holdings, Inc.^*		5,813		141,837
Harris Corp.		2,846		141,162
Riverbed Technology, Inc.^*		3,423		128,876
Alcatel-Lucent ADR		21,745		126,338
JDS Uniphase Corp.^*		5,889		122,727
Acme Packet, Inc.^*		1,670		118,503
Polycom, Inc.^*		2,231		115,677
Aruba Networks, Inc.^*		3,040		102,874
Brocade Communications Systems, Inc.^*		15,768		96,973
Telefonaktiebolaget LM Ericsson ADR		7,220		92,849
ADTRAN, Inc.		2,023		85,897
InterDigital, Inc.		1,793		85,544
Ciena Corp.^*		3,271		84,915
Finisar Corp.^*		3,449		84,845
Tellabs, Inc.		14,577		76,383
Plantronics, Inc.		2,056		75,291
Viasat, Inc.^*		1,828		72,828
Arris Group, Inc.^*		5,560		70,834
RADWARE Ltd.^*		1,826		64,713
Blue Coat Systems, Inc.^*		2,184		61,501
Harmonic, Inc.^*		6,527		61,223
Netgear, Inc.^*		1,867		60,566
Ixia^*		3,675		58,359
Emulex Corp.^*		5,118		54,609
Infinera Corp.^*		6,491		54,460
DG FastChannel, Inc.^*		1,689		54,420
Comtech Telecommunications Corp.		1,738		47,239
Oclaro, Inc.^*		3,853		44,348
Tekelec^*		5,338		43,345

Total Information Technology				4,578,786

Total Common Stocks (Cost $8,391,457)				9,934,602


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 – 0.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	50,023	$	50,023

Total Repurchase Agreement (Cost $50,023)				50,023

Total Investments – 100.0% (Cost $8,441,480)			$	9,984,625
Liabilities, Less Cash & Other Assets – 0.0%				(981	)

Total Net Assets – 100.0%			$	9,983,644


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments March 31, 2011 (Unaudited)		Sector Funds Transportation Fund


	Shares		Value
COMMON STOCKS^† – 99.5%
Industrials – 99.5%
United Parcel Service, Inc. – Class B		10,304	$	765,793
Union Pacific Corp.		6,283		617,807
FedEx Corp.		5,271		493,102
CSX Corp.		6,032		474,115
Norfolk Southern Corp.		6,340		439,172
CH Robinson Worldwide, Inc.		4,203		311,568
Expeditors International of Washington, Inc.		5,908		296,227
Southwest Airlines Co.		22,352		282,306
Delta Air Lines, Inc.^*		26,804		262,679
United Continental Holdings, Inc.^*		11,195		257,373
Hertz Global Holdings, Inc.^*		14,391		224,931
Kansas City Southern^*		3,920		213,444
J.B. Hunt Transport Services, Inc.		4,635		210,522
Kirby Corp.^*		2,544		145,746
Ryder System, Inc.		2,873		145,374
Alaska Air Group, Inc.^*		2,236		141,807
Landstar System, Inc.		2,905		132,700
AMR Corp.^*		20,472		132,249
Con-way, Inc.		3,324		130,600
Dollar Thrifty Automotive Group, Inc.^*		1,951		130,190
JetBlue Airways Corp.^*		20,221		126,786
Avis Budget Group, Inc.^*		7,065		126,534
Atlas Air Worldwide Holdings, Inc.^*		1,799		125,426
Werner Enterprises, Inc.		4,678		123,827
Old Dominion Freight Line, Inc.^*		3,490		122,464
Genesee & Wyoming, Inc.– Class A^*		1,985		115,527
Knight Transportation, Inc.		5,772		111,111
Alexander & Baldwin, Inc.		2,390		109,104
US Airways Group, Inc.^*		12,507		108,936
AirTran Holdings, Inc.^*		11,978		89,236
Allegiant Travel Co.– Class A		1,871		81,969
Heartland Express, Inc.		4,161		73,067
Copa Holdings S.A.– Class A		1,354		71,491
Arkansas Best Corp.		2,190		56,765
Genco Shipping & Trading Ltd.^*		5,136		55,315
UTI Worldwide, Inc.		2,640		53,434
HUB Group, Inc. – Class A^*		1,447		52,367

Total Industrials				7,411,064

Total Common Stocks (Cost $4,445,907)				7,411,064


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 – 0.2%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	13,101	$	13,101

Total Repurchase Agreement (Cost $13,101)				13,101

Total Investments – 99.7% (Cost $4,459,008)			$	7,424,165
Cash & Other Assets, Less Liabilities – 0.3%				25,524
Total Net Assets – 100.0%			$	7,449,689


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.


Schedule of Investments		Sector Funds
March 31, 2011 (Unaudited)		Energy Services Fund


	Shares		Value
COMMON STOCKS^† - 99.8%
Energy - 99.8%
Schlumberger Ltd.		62,193	$	5,800,119
Halliburton Co.		71,814		3,579,210
National Oilwell Varco, Inc.		36,141		2,864,897
Baker Hughes, Inc.		38,795		2,848,717
Transocean Ltd.^*		33,274		2,593,708
Weatherford International Ltd.^*		94,945		2,145,757
Cameron International Corp.^*		31,741		1,812,411
Noble Corp.		37,837		1,726,124
FMC Technologies, Inc.^*		17,858		1,687,224
Diamond Offshore Drilling, Inc.		21,575		1,676,378
Nabors Industries Ltd.^*		50,764		1,542,210
Helmerich & Payne, Inc.		20,159		1,384,722
Pride International, Inc.^*		32,239		1,384,665
Ensco plc ADR		23,018		1,331,361
McDermott International, Inc.^*		50,737		1,288,213
Rowan Companies, Inc.^*		27,063		1,195,643
Oceaneering International, Inc.^*		13,003		1,163,118
Patterson-UTI Energy, Inc.		36,625		1,076,409
Tenaris S.A. ADR		21,661		1,071,353
Dresser-Rand Group, Inc.^*		19,400		1,040,228
RPC, Inc.		41,038		1,039,082
Oil States International, Inc.^*		13,645		1,038,930
Superior Energy Services, Inc.^*		23,540		965,140
CARBO Ceramics, Inc.		6,688		943,811
Dril-Quip, Inc.^*		11,565		913,982
Tidewater, Inc.		14,961		895,416
Lufkin Industries, Inc.		9,472		885,348
Atwood Oceanics, Inc.^*		18,894		877,249
Seadrill Ltd.		24,027		866,654
Core Laboratories N.V.		7,860		803,056
Complete Production Services, Inc.^*		24,849		790,447
Key Energy Services, Inc.^*		46,951		730,088
Unit Corp.^*		11,758		728,408
Helix Energy Solutions Group, Inc.^*		42,183		725,548
ION Geophysical Corp.^*		55,658		706,300
SEACOR Holdings, Inc.		7,607		703,343
Exterran Holdings, Inc.^*		26,914		638,669
Gulfmark Offshore, Inc. — Class A^*		12,434		553,437
Bristow Group, Inc.^*		11,254		532,314
Hercules Offshore, Inc.^*		71,150		470,302
Tetra Technologies, Inc.^*		28,503		438,946
Hornbeck Offshore Services, Inc.^*		8,132		250,872

Total Energy				55,709,809

Total Common Stocks (Cost $30,942,310)				55,709,809


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.7%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	376,894	$	376,894

Total Repurchase Agreement (Cost $376,894)				376,894


Total Investments - 100.5% (Cost $31,319,204)			$	56,086,703
Liabilities, Less Cash & Other Assets — (0.5)%				(259,409	)

Total Net Assets - 100.0%			$	55,827,294


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments		Sector Funds
March 31, 2011 (Unaudited)		Banking Fund


	Shares		Value
COMMON STOCKS^† - 99.6%
Financials - 99.6%
JPMorgan Chase & Co.		2,697	$	124,332
Wells Fargo & Co.		3,844		121,855
U.S. Bancorp		4,573		120,864
Bank of America Corp.		8,614		114,825
Bank of New York Mellon Corp.		3,797		113,416
PNC Financial Services Group, Inc.		1,662		104,689
Itau Unibanco Holding S.A. ADR		3,693		88,817
BB&T Corp.		2,906		79,770
Banco Bradesco S.A. ADR		3,482		72,252
SunTrust Banks, Inc.		2,431		70,110
Fifth Third Bancorp		4,662		64,709
M&T Bank Corp.		680		60,160
ICICI Bank Ltd. ADR		1,129		56,258
Regions Financial Corp.		7,565		54,922
CIT Group, Inc.^*		1,255		53,400
HSBC Holdings plc ADR		1,021		52,888
KeyCorp		5,834		51,806
New York Community Bancorp, Inc.		2,858		49,329
Comerica, Inc.		1,274		46,781
Bank of Montreal		704		45,746
Huntington Bancshares, Inc.		6,532		43,372
Hudson City Bancorp, Inc.		4,289		41,518
Banco Santander S.A. ADR		3,464		40,598
People’s United Financial, Inc.		3,126		39,325
HDFC Bank Ltd. ADR		225		38,237
Marshall & Ilsley Corp.		4,779		38,184
Zions Bancorporation		1,654		38,141
Toronto-Dominion Bank		417		36,942
Commerce Bancshares, Inc.		864		34,940
Cullen		592		34,940
Royal Bank of Canada		563		34,889
Banco Santander Brasil S.A. ADR		2,800		34,328
East West Bancorp, Inc.		1,538		33,774
City National Corp.		560		31,948
First Horizon National Corp.		2,826		31,679
UBS AG		1,680		30,324
First Niagara Financial Group, Inc.		2,228		30,256
Associated Banc-Corp.		2,030		30,146
Deutsche Bank AG		505		29,830
SVB Financial Group^*		520		29,604
Bank of Hawaii Corp.		611		29,218
Signature Bank ^*		513		28,933
CapitalSource, Inc.		4,035		28,406
Valley National Bancorp		2,026		28,283
Fulton Financial Corp.		2,515		27,942
TCF Financial Corp.		1,734		27,501
Prosperity Bancshares, Inc.		630		26,945
FirstMerit Corp.		1,551		26,460
Barclays plc ADR		1,458		26,448
Credicorp Ltd.		250		26,233
Webster Financial Corp.		1,209		25,909
MGIC Investment Corp.^*		2,877		25,577
Capitol Federal Financial, Inc.		2,252		25,380
Iberiabank Corp.		395		23,751
Trustmark Corp.		989		23,162
Cathay General Bancorp		1,343		22,898
NewAlliance Bancshares, Inc.		1,520		22,557
Washington Federal, Inc.		1,292		22,403
Westamerica Bancorporation		436		22,397
Astoria Financial Corp.		1,529		21,972
Umpqua Holdings Corp.		1,912		21,873
Whitney Holding Corp.		1,570		21,383
Northwest Bancshares, Inc.		1,705		21,381
Wintrust Financial Corp.		580		21,315
FNB Corp.		2,010		21,185
Susquehanna Bancshares, Inc.		2,250		21,038
BancorpSouth, Inc.		1,349		20,842
Hancock Holding Co.		620		20,361
Radian Group, Inc.		2,793		19,020
Glacier Bancorp, Inc.		1,240		18,662
First Midwest Bancorp, Inc.		1,505		17,744
Provident Financial Services, Inc.		1,190		17,612
Sterling Bancshares, Inc.		2,000		17,220
CVB Financial Corp.		1,739		16,190
Old National Bancorp		1,456		15,608
Texas Capital Bancshares, Inc.^*		580		15,074
Ocwen Financial Corp.^*		1,280		14,106
PrivateBancorp, Inc. - Class A		830		12,691

Total Financials				3,095,584

Total Common Stocks (Cost $1,917,551)				3,095,584


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 2.6%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	81,711	$	81,711

Total Repurchase Agreement (Cost $81,711)				81,711


Total Investments - 102.2% (Cost $1,999,262)			$	3,177,295
Liabilities, Less Cash & Other Assets - (2.2)%				(69,368	)

Total Net Assets - 100.0%			$	3,107,927


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments		Sector Funds
March 31, 2011 (Unaudited)		Biotechnology Fund


	Shares		Value
COMMON STOCKS^† - 100.0%
Health Care - 100.0%
Amgen, Inc.^*		18,948	$	1,012,771
Gilead Sciences, Inc.^*		20,758		880,970
Celgene Corp.^*		13,566		780,452
Genzyme Corp.^*		8,601		654,966
Biogen Idec, Inc.^*		8,678		636,878
Vertex Pharmaceuticals, Inc.^*		10,057		482,032
Alexion Pharmaceuticals, Inc.^*		4,682		462,020
Dendreon Corp.^*		9,634		360,601
Human Genome Sciences, Inc.^*		12,407		340,572
Pharmasset, Inc.^*		3,840		302,246
United Therapeutics Corp.^*		4,372		293,011
Regeneron Pharmaceuticals, Inc.^*		6,417		288,380
InterMune, Inc.^*		5,539		261,385
BioMarin Pharmaceutical, Inc.^*		9,506		238,886
Onyx Pharmaceuticals, Inc.^*		6,263		220,332
Talecris Biotherapeutics Holdings Corp.^*		8,142		218,206
Incyte Corporation Ltd.^*		13,325		211,201
Seattle Genetics, Inc.^*		13,392		208,513
Cephalon, Inc.^*		2,749		208,319
Amylin Pharmaceuticals, Inc.^*		17,115		194,598
Theravance, Inc.^*		7,710		186,736
Cubist Pharmaceuticals, Inc.^*		7,182		181,274
Exelixis, Inc.^*		15,870		179,331
Ariad Pharmaceuticals, Inc.^*		21,240		159,725
Myriad Genetics, Inc.^*		7,900		159,185
Cepheid, Inc.^*		5,090		142,622
Acorda Therapeutics, Inc.^*		6,096		141,427
Savient Pharmaceuticals, Inc.^*		13,047		138,298
PDL BioPharma, Inc.		23,647		137,153
Momenta Pharmaceuticals, Inc.^*		8,570		135,835
Alkermes, Inc.^*		10,230		132,478
SIGA Technologies, Inc.^*		10,020		121,242
Clinical Data, Inc.^*		3,740		113,322
Enzon Pharmaceuticals, Inc.^*		9,320		101,588
Isis Pharmaceuticals, Inc.^*		10,678		96,529
Amarin Corp.plc ADR^*		11,930		87,089
NPS Pharmaceuticals, Inc.^*		9,050		86,608
Medivation, Inc.^*		4,620		86,117
Sangamo Biosciences, Inc.^*		9,080		75,636
AMAG Pharmaceuticals, Inc.^*		4,414		73,714
Immunogen, Inc.^*		7,000		63,490

Total Health Care				10,855,738

Total Common Stocks (Cost $6,178,471)				10,855,738


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 2.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	266,950	$	266,950

Total Repurchase Agreement
(Cost $266,950)				266,950


Total Investments - 102.5% (Cost $6,445,421)			$	11,122,688
Liabilities, Less Cash & Other Assets - (2.5)%				(268,813	)

Total Net Assets - 100.0%			$	10,853,875


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments		Sector Funds
March 31, 2011 (Unaudited)		Electronics Fund


	Shares		Value
COMMON STOCKS^† - 99.5%
Information Technology - 96.4%
Intel Corp.		31,554	$	636,444
Texas Instruments, Inc.		11,279		389,802
Applied Materials, Inc.		17,632		275,412
Broadcom Corp. - Class A		6,936		273,140
Altera Corp.		5,223		229,916
Analog Devices, Inc.		5,312		209,187
Micron Technology, Inc.^*		17,991		206,177
NVIDIA Corp.^*		10,815		199,645
Marvell Technology Group Ltd.^*		12,247		190,441
Xilinx, Inc.		5,338		175,086
Maxim Integrated Products, Inc.		6,684		171,110
KLA-Tencor Corp.		3,595		170,295
Avago Technologies Ltd.		5,426		168,749
Linear Technology Corp.		4,999		168,116
Atmel Corp.^*		12,190		166,150
Lam Research Corp.^*		2,926		165,787
Microchip Technology, Inc.		4,279		162,645
Taiwan Semiconductor Manufacturing Company Ltd. ADR		13,275		161,690
Skyworks Solutions, Inc.^*		4,709		152,666
Advanced Micro Devices, Inc.^*		17,075		146,845
ARM Holdings plc ADR		4,490		126,483
ON Semiconductor Corp.^*		12,784		126,178
LSI Corp.^*		18,458		125,514
Cree, Inc.^*		2,718		125,463
ASML Holding N.V. - Class G		2,695		119,928
Varian Semiconductor Equipment Associates, Inc.^*		2,393		116,467
National Semiconductor Corp.		7,828		112,254
Novellus Systems, Inc.^*		3,007		111,650
Cypress Semiconductor Corp.^*		5,711		110,679
Teradyne, Inc.^*		6,143		109,407
Trina Sola Ltd. ADR^*		3,628		109,275
Atheros Communications, Inc.^*		2,375		106,044
MEMC Electronic Materials, Inc.^*		7,952		103,058
Netlogic Microsystems, Inc.^*		2,438		102,445
LDK Solar Company Ltd. ADR^*		7,670		93,881
International Rectifier Corp.^*		2,824		93,361
Fairchild Semiconductor International, Inc. - Class A^*		5,077		92,401
Omnivision Technologies, Inc.^*		2,592		92,094
Cavium Networks, Inc.^*		2,036		91,477
TriQuint Semiconductor, Inc.^*		7,026		90,706
Hittite Microwave Corp.^*		1,395		88,959
Rambus, Inc.^*		4,412		87,358
Veeco Instruments, Inc.^*		1,657		84,242
Silicon Laboratories, Inc.^*		1,935		83,611
MKS Instruments, Inc.		2,510		83,583
Cymer, Inc.^*		1,471		83,229
RF Micro Devices, Inc.^*		12,607		80,811
PMC - Sierra, Inc.^*		10,580		79,350
Microsemi Corp.^*		3,821		79,133
Semtech Corp.^*		3,156		78,963
Intersil Corp. - Class A		6,294		78,360
SunPower Corp. - Class A^*		4,487		76,907
Cirrus Logic, Inc.^*		3,386		71,208
Diodes, Inc.^*		2,080		70,845
Amkor Technology, Inc.^*		10,421		70,238
Entegris, Inc.^*		8,008		70,230
FEI Co.^*		2,070		69,800
Integrated Device Technology, Inc.^*		9,024		66,507
Cabot Microelectronics Corp.^*		1,240		64,790
Tessera Technologies, Inc.^*		3,240		59,162
Entropic Communications, Inc.^*		6,415		54,207
Silicon Image, Inc.^*		5,900		52,923
Advanced Energy Industries, Inc.^*		3,203		52,369
Kulicke & Soffa Industries, Inc.^*		5,525		51,659
Lattice Semiconductor Corp.^*		8,495		50,121
Power Integrations, Inc.		1,286		49,292
Volterra Semiconductor Corp.^*		1,959		48,642
Applied Micro Circuits Corp.^*		4,573		47,468
Rubicon Technology, Inc.^*		1,631		45,146
MIPS Technologies, Inc. - Class A^*		4,180		43,848

Total Information Technology				8,601,029

Industrials - 3.1%
First Solar, Inc.^*		1,323		212,791
GT Solar International, Inc.^*		5,945		63,374

Total Industrials				276,165

Total Common Stocks (Cost $5,507,025)				8,877,194


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.8%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	74,507	$	74,507

Total Repurchase Agreement (Cost $74,507)				74,507


Total Investments - 100.3% (Cost $5,581,532)			$	8,951,701
Liabilities, Less Cash & Other Assets - (0.3)%				(24,034	)

Total Net Assets - 100.0%			$	8,927,667


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments		Sector Funds
March 31, 2011 (Unaudited)		Internet Fund


	Shares		Value
COMMON STOCKS^† - 99.8% (continued)
Information Technology - 79.4% (continued)
Google, Inc. — Class A^*		1,852	$	1,085,661
Cisco Systems, Inc.		43,285		742,338
QUALCOMM, Inc.		13,435		736,641
Baidu, Inc. ADR^*		4,022		554,272
eBay, Inc.^*		16,037		497,788
Research In Motion Ltd.^*		7,056		399,158
Yahoo!, Inc.^*		22,595		376,207
Juniper Networks, Inc.^*		8,698		366,012
Broadcom Corp. — Class A		8,859		348,867
Intuit, Inc.^*		6,008		319,025
Symantec Corp.^*		15,960		295,898
Sina Corp.^*		2,647		283,335
Check Point Software Technologies Ltd.^*		5,040		257,292
Red Hat, Inc.^*		5,326		241,747
BMC Software, Inc.^*		4,680		232,783
F5 Networks, Inc.^*		2,141		219,602
Akamai Technologies, Inc.^*		5,389		204,782
MercadoLibre, Inc.		2,440		199,177
Sohu.com, Inc.^*		2,210		197,486
VeriSign, Inc.		5,373		194,556
Rackspace Hosting, Inc.^*		4,462		191,197
TIBCO Software, Inc.^*		6,330		172,492
Equinix, Inc.^*		1,782		162,340
WebMD Health Corp. — Class A^*		2,549		136,168
IAC/InterActiveCorp.^*		4,309		133,105
GSI Commerce, Inc.^*		4,507		131,920
OpenTable, Inc.^*		1,190		126,557
Ciena Corp.^*		4,700		122,012
VistaPrint N.V.^*		2,273		117,969
SAVVIS, Inc.^*		3,140		116,463
AOL, Inc.^*		5,875		114,739
Monster Worldwide, Inc.^*		7,035		111,856
Ancestry.com, Inc.^*		2,970		105,286
Digital River, Inc.^*		2,527		94,586
Travelzoo, Inc.^*		1,320		87,899
Terremark Worldwide, Inc.^*		4,550		86,450
ValueClick, Inc.^*		5,962		86,211
Constant Contact, Inc.^*		2,390		83,411
LogMeIn, Inc.^*		1,940		81,790
RightNow Technologies, Inc.^*		2,520		78,876
Websense, Inc.^*		3,270		75,112
j2 Global Communications, Inc.^*		2,470		72,890
Limelight Networks, Inc.^*		10,150		72,674
Earthlink, Inc.		9,028		70,689

Total Information Technology				10,385,319

Consumer Discretionary - 17.3%
Amazon.com, Inc.^*		4,090		736,732
Time Warner, Inc.		13,419		479,058
Priceline.com, Inc.^*		800		405,152
Netflix, Inc.^*		1,144		271,505
Expedia, Inc.		8,512		192,882
Shutterfly, Inc.^*		1,980		103,673
Blue Nile, Inc.^*		1,297		70,025

Total Consumer Discretionary				2,259,027

Telecommunication Services - 2.0%
Qwest Communications International, Inc.		38,660		264,048


Financials - 1.1%
ETrade Financial Corp.^		9,270		144,890


Total Common Stocks (Cost $7,366,632)				13,053,284


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.8%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	101,673	$	101,673

Total Repurchase Agreement (Cost $101,673)				101,673

Total Investments - 100.6% (Cost $7,468,305)			$	13,154,957
Liabilities, Less Cash & Other Assets - (0.6)%				(74,622	)

Total Net Assets - 100.0%			$	13,080,335


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt


Schedule of Investments		Sector Funds
March 31, 2011 (Unaudited)		Utilities Fund


	Shares		Value
COMMON STOCKS^† - 99.8%
Utilities - 99.8%
Southern Co.		12,197	$	464,828
Exelon Corp.		10,459		431,329
Dominion Resources, Inc.		9,356		418,213
Duke Energy Corp.		22,096		401,042
NextEra Energy, Inc.		7,228		398,407
PG&E Corp.		7,914		349,641
American Electric Power Company, Inc.		9,762		343,037
Public Service Enterprise Group, Inc.		10,505		331,013
FirstEnergy Corp.		8,659		321,162
Consolidated Edison, Inc.		6,143		311,573
Progress Energy, Inc.		6,596		304,339
Sempra Energy		5,529		295,801
Entergy Corp.		4,377		294,178
PPL Corp.		11,390		288,167
Edison International		7,771		284,341
Xcel Energy, Inc.		11,514		275,069
AES Corp.^*		19,909		258,817
CenterPoint Energy, Inc.		13,545		237,850
DTE Energy Co.		4,804		235,204
Calpine Corp.^*		13,831		219,498
Oneok, Inc.		3,276		219,099
Wisconsin Energy Corp.		7,150		218,075
Ameren Corp.		7,629		214,146
Constellation Energy Group, Inc.		6,512		202,719
Northeast Utilities		5,824		201,510
National Fuel Gas Co.		2,712		200,688
NiSource, Inc.		9,944		190,726
SCANA Corp.		4,672		183,937
CMS Energy Corp.		9,328		183,202
OGE Energy Corp.		3,609		182,471
NRG Energy, Inc.^*		8,431		181,604
American Water Works Company, Inc.		6,421		180,109
NSTAR		3,876		179,343
Pinnacle West Capital Corp.		4,128		176,637
Cia Energetica de Minas Gerais ADR		9,110		175,550
MDU Resources Group, Inc.		7,425		170,552
Energen Corp.		2,683		169,351
Pepco Holdings, Inc.		9,009		168,018
Alliant Energy Corp.		4,310		167,788
TECO Energy, Inc.		8,820		165,463
Integrys Energy Group, Inc.		3,201		161,683
UGI Corp.		4,800		157,920
ITC Holdings Corp.		2,207		154,269
N.V. Energy, Inc.		10,266		152,861
DPL, Inc.		5,330		146,095
Aqua America, Inc.		6,370		145,809
Atmos Energy Corp.		4,212		143,629
Westar Energy, Inc.		5,375		142,008
AGL Resources, Inc.		3,539		140,994
Questar Corp.		8,046		140,403
National Grid plc ADR		2,871		137,923
Great Plains Energy, Inc.		6,764		135,415
Hawaiian Electric Industries, Inc.		5,072		125,786
Nicor, Inc.		2,314		124,262
Piedmont Natural Gas Company, Inc.		4,054		123,039
Vectren Corp.		4,476		121,747
Cleco Corp.		3,480		119,329
WGL Holdings, Inc.		2,940		114,660
IDACORP, Inc.		2,953		112,509
Southwest Gas Corp.		2,813		109,623
Portland General Electric Co.		4,558		108,344
UIL Holdings Corp.		3,350		102,242
New Jersey Resources Corp.		2,367		101,663
El Paso Electric Co.^*		3,159		96,034
Avista Corp.		4,118		95,249
Black Hills Corp.		2,836		94,836
Unisource Energy Corp.		2,618		94,588
PNM Resources, Inc.		6,257		93,354
South Jersey Industries, Inc.		1,566		87,649
NorthWestern Corp.		2,787		84,446
Northwest Natural Gas Co.		1,799		82,988
Dynegy, Inc. — Class A^*		11,660		66,345

Total Utilities				14,012,199

Total Common Stocks (Cost $9,497,292)				14,012,199


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	66,419	$	66,419

Total Repurchase Agreement (Cost $66,419)				66,419


Total Investments - 100.3% (Cost $9,563,711)			$	14,078,618
Liabilities, Less Cash & Other Assets — (0.3)%				(36,400	)

Total Net Assets - 100.0%			$	14,042,218


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds Nova Fund


	Shares		Value
COMMON STOCKS ^† - 59.4%
Information Technology - 10.7%
Apple, Inc.^*		1,764	$	614,666
International Business Machines Corp.		2,330		379,953
Microsoft Corp.		14,140		358,590
Google, Inc. — Class A^*		480		281,381
Oracle Corp.		7,440		248,273
Intel Corp.		10,500		211,785
Cisco Systems, Inc.		10,570		181,275
QUALCOMM, Inc.		3,140		172,166
Hewlett-Packard Co.		4,160		170,435
EMC Corp.^*		3,960		105,138
Texas Instruments, Inc.		2,240		77,414
Visa, Inc. — Class A		930		68,467
eBay, Inc.^*		2,190		67,978
Corning, Inc.		2,988		61,642
Automatic Data Processing, Inc.		950		48,744
Cognizant Technology Solutions Corp. — Class A^*		580		47,212
Dell, Inc.^*		3,210		46,577
Mastercard, Inc. — Class A		180		45,310
Juniper Networks, Inc.^*		1,020		42,922
Yahoo!, Inc.^*		2,500		41,625
Applied Materials, Inc.		2,520		39,362
Broadcom Corp. — Class A		910		35,836
NetApp, Inc.^*		700		33,726
Adobe Systems, Inc.^*		970		32,165
Salesforce.com, Inc.^*		230		30,723
Motorola Solutions, Inc.^*		640		28,602
Xerox Corp.		2,678		28,521
Intuit, Inc.^*		520		27,612
Symantec Corp.^*		1,460		27,068
Altera Corp.		608		26,764
Citrix Systems, Inc.^*		360		26,446
Western Union Co.		1,240		25,755
Analog Devices, Inc.		570		22,447
SanDisk Corp.^*		450		20,740
NVIDIA Corp.^*		1,110		20,491
Paychex, Inc.		620		19,443
Autodesk, Inc.^*		440		19,408
Micron Technology, Inc.^*		1,639		18,783
Amphenol Corp. — Class A		340		18,493
CA, Inc.		730		17,651
Fiserv, Inc.^*		280		17,562
BMC Software, Inc.^*		340		16,912
Red Hat, Inc.^*		370		16,794
Fidelity National Information Services, Inc.		510		16,672
Western Digital Corp.^*		440		16,408
Xilinx, Inc.		500		16,400
Teradata Corp.^*		320		16,224
F5 Networks, Inc.^*		150		15,386
KLA-Tencor Corp.		320		15,158
Computer Sciences Corp.		300		14,619
Linear Technology Corp.		430		14,461
Microchip Technology, Inc.		360		13,684
Akamai Technologies, Inc.^*		360		13,680
Motorola Mobility Holdings, Inc.^*		560		13,664
Electronic Arts, Inc.^*		639		12,480
VeriSign, Inc.		330		11,949
Harris Corp.		240		11,904
FLIR Systems, Inc.		310		10,729
Advanced Micro Devices, Inc.^*		1,103		9,486
SAIC, Inc.^*		557		9,424
JDS Uniphase Corp.^*		430		8,961
LSI Corp.^*		1,180		8,024
Jabil Circuit, Inc.		380		7,763
National Semiconductor Corp.		458		6,568
Molex, Inc.		260		6,531
Novellus Systems, Inc.^*		170		6,312
Teradyne, Inc.^*		350		6,233
MEMC Electronic Materials, Inc.^*		436		5,651
Total System Services, Inc.		310		5,586
Lexmark International, Inc. — Class A^*		146		5,408
Compuware Corp.^*		420		4,851
Monster Worldwide, Inc.^*		250		3,975
Novell, Inc.^*		666		3,949
Tellabs, Inc.		690		3,616

Total Information Technology				4,158,613

Financials - 9.4%
JPMorgan Chase & Co.		7,620		351,282
Wells Fargo & Co.		10,078		319,473
Berkshire Hathaway, Inc. — Class B^*		3,307		276,564
Bank of America Corp.		19,360		258,069
Citigroup, Inc.^*		55,580		245,664
Goldman Sachs Group, Inc.		1,000		158,470
U.S. Bancorp		3,677		97,183
American Express Co.		2,000		90,400
MetLife, Inc.		2,020		90,355
Morgan Stanley		2,960		80,867
Bank of New York Mellon Corp.		2,383		71,180
PNC Financial Services Group, Inc.		1,010		63,620
Simon Property Group, Inc.		570		61,081
Prudential Financial, Inc.		930		57,269
Travelers Companies, Inc.		820		48,774
Aflac, Inc.		900		47,502
Capital One Financial Corp.		870		45,205
State Street Corp.		960		43,142
ACE Ltd.		640		41,408
CME Group, Inc. — Class A		127		38,297
BB&T Corp.		1,330		36,508
Franklin Resources, Inc.		280		35,022
Charles Schwab Corp.		1,907		34,383
Chubb Corp.		560		34,334
AON Corp.		640		33,894
T. Rowe Price Group, Inc.		500		33,210
Allstate Corp.		1,010		32,098
Equity Residential		560		31,589
Marsh & McLennan Companies, Inc.		1,040		31,002
Public Storage		270		29,946
SunTrust Banks, Inc.		1,020		29,417
HCP, Inc.		770		29,214
Ameriprise Financial, Inc.		470		28,708
Vornado Realty Trust		310		27,125


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds Nova Fund


	Shares		Value
COMMON STOCKS ^† - 59.4% (continued)
Financials - 9.4% (continued)
Progressive Corp.		1,260	$	26,624
Loews Corp.		600		25,854
Weyerhaeuser Co.		1,030		25,338
Boston Properties, Inc.		266		25,230
Discover Financial Services		1,036		24,988
Fifth Third Bancorp		1,760		24,429
Northern Trust Corp.		460		23,345
Hartford Financial Services Group, Inc.		850		22,890
Host Hotels & Resorts, Inc.		1,298		22,858
Invesco Ltd.		880		22,493
M&T Bank Corp.		230		20,348
Principal Financial Group, Inc.		610		19,587
AvalonBay Communities, Inc.		160		19,213
Lincoln National Corp.		600		18,024
Health Care REIT, Inc.		340		17,829
NYSE Euronext		500		17,585
Regions Financial Corp.		2,410		17,497
ProLogis		1,090		17,418
IntercontinentalExchange, Inc.^*		140		17,296
Ventas, Inc.		310		16,833
KeyCorp		1,820		16,162
Unum Group		590		15,487
SLM Corp.^*		1,010		15,453
CB Richard Ellis Group, Inc. — Class A^*		560		14,952
XL Group plc — Class A		590		14,514
Kimco Realty Corp.		780		14,305
Leucadia National Corp.		379		14,228
Plum Creek Timber Company, Inc.		310		13,519
Moody’s Corp.		380		12,886
Genworth Financial, Inc. — Class A^*		940		12,652
Comerica, Inc.		340		12,485
Huntington Bancshares, Inc.		1,650		10,956
Legg Mason, Inc.		290		10,466
Cincinnati Financial Corp.		310		10,168
Torchmark Corp.		150		9,972
Hudson City Bancorp, Inc.		1,010		9,777
American International Group, Inc.^*		270		9,488
People’s United Financial, Inc.		690		8,680
Zions Bancorporation		350		8,071
Marshall & Ilsley Corp.		1,010		8,070
NASDAQ OMX Group, Inc.^*		290		7,494
Assurant, Inc.		190		7,317
ETrade Financial Corp.^		420		6,565
Apartment Investment & Management Co. — Class A		230		5,858
First Horizon National Corp.		500		5,605
Federated Investors, Inc. — Class B		180		4,815
Janus Capital Group, Inc.		360		4,489

Total Financials				3,642,368

Energy - 7.9%
Exxon Mobil Corp.		9,480		797,566
Chevron Corp.		3,839		412,424
Schlumberger Ltd.		2,600		242,476
ConocoPhillips		2,730		218,018
Occidental Petroleum Corp.		1,550		161,959
Apache Corp.		730		95,572
Halliburton Co.		1,747		87,070
Anadarko Petroleum Corp.		950		77,824
Devon Energy Corp.		820		75,251
Marathon Oil Corp.		1,360		72,502
National Oilwell Varco, Inc.		810		64,209
Baker Hughes, Inc.		830		60,947
EOG Resources, Inc.		510		60,440
Hess Corp.		570		48,570
Chesapeake Energy Corp.		1,264		42,369
Peabody Energy Corp.		517		37,203
Williams Companies, Inc.		1,120		34,922
Spectra Energy Corp.		1,240		33,703
Noble Energy, Inc.		340		32,861
Valero Energy Corp.		1,090		32,504
Southwestern Energy Co.^*		670		28,790
Murphy Oil Corp.		370		27,165
Cameron International Corp.^*		470		26,837
El Paso Corp.		1,350		24,300
Consol Energy, Inc.		430		23,061
Pioneer Natural Resources Co.		220		22,422
Noble Corp.		480		21,898
FMC Technologies, Inc.^*		230		21,730
Newfield Exploration Co.^*		260		19,763
Denbury Resources, Inc.^*		770		18,788
Range Resources Corp.		310		18,123
Nabors Industries Ltd.^*		550		16,709
EQT Corp.		290		14,471
QEP Resources, Inc.		340		13,784
Helmerich & Payne, Inc.		200		13,738
Massey Energy Co.		200		13,672
Sunoco, Inc.		230		10,486
Rowan Companies, Inc.^*		236		10,426
Cabot Oil & Gas Corp.		196		10,382
Diamond Offshore Drilling, Inc.		129		10,023
Tesoro Corp.^*		270		7,244

Total Energy				3,062,202

Industrials - 6.7%
General Electric Co.		20,310		407,216
United Technologies Corp.		1,760		148,984
United Parcel Service, Inc. — Class B		1,890		140,465
Caterpillar, Inc.		1,217		135,513
3M Co.		1,360		127,160
Boeing Co.		1,410		104,241
Union Pacific Corp.		940		92,430
Honeywell International, Inc.		1,503		89,744
Emerson Electric Co.		1,440		84,139
Deere & Co.		810		78,481
FedEx Corp.		600		56,130
CSX Corp.		710		55,806
General Dynamics Corp.		710		54,358
Danaher Corp.		1,030		53,457
Illinois Tool Works, Inc.		950		51,034
Norfolk Southern Corp.		680		47,104
Lockheed Martin Corp.		550		44,220
Cummins, Inc.		380		41,656
Tyco International Ltd.		910		40,741
Precision Castparts Corp.		270		39,739


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds Nova Fund


	Shares		Value
COMMON STOCKS ^† - 59.4% (continued)
Industrials - 6.7% (continued)
PACCAR, Inc.		700	$	36,645
Eaton Corp.		654		36,258
Northrop Grumman Corp.		560		35,118
Raytheon Co.		690		35,100
Waste Management, Inc.		910		33,979
Ingersoll-Rand plc		630		30,435
Parker Hannifin Corp.		310		29,351
Rockwell Automation, Inc.		270		25,556
Fluor Corp.		340		25,044
Dover Corp.		360		23,666
CH Robinson Worldwide, Inc.		317		23,499
ITT Corp.		350		21,018
Expeditors International of Washington, Inc.		410		20,557
Goodrich Corp.		240		20,527
Joy Global, Inc.		200		19,762
Rockwell Collins, Inc.		300		19,449
Fastenal Co.		280		18,152
Southwest Airlines Co.		1,430		18,061
Republic Services, Inc. — Class A		590		17,724
L-3 Communications Holdings, Inc. — Class 3		220		17,228
First Solar, Inc.^*		100		16,084
Roper Industries, Inc.		177		15,303
WW Grainger, Inc.		110		15,145
Textron, Inc.		530		14,517
Stericycle, Inc.^*		160		14,187
Flowserve Corp.		110		14,168
Pall Corp.		218		12,559
Jacobs Engineering Group, Inc.^*		238		12,240
Iron Mountain, Inc.		380		11,867
Pitney Bowes, Inc.		390		10,019
Masco Corp.		680		9,466
Quanta Services, Inc.^*		410		9,196
Equifax, Inc.		230		8,935
Robert Half International, Inc.		280		8,568
Avery Dennison Corp.		200		8,392
Dun & Bradstreet Corp.		100		8,024
RR Donnelley & Sons Co.		400		7,568
Cintas Corp.		240		7,265
Snap-On, Inc.		110		6,607
Ryder System, Inc.		100		5,060

Total Industrials				2,614,917

Health Care - 6.5%
Pfizer, Inc.		15,290		310,540
Johnson & Johnson		5,230		309,877
Merck & Company, Inc.		5,900		194,759
Abbott Laboratories		2,960		145,188
Amgen, Inc.^*		1,780		95,141
UnitedHealth Group, Inc.		2,090		94,468
Bristol-Myers Squibb Co.		3,260		86,162
Medtronic, Inc.		2,050		80,667
Eli Lilly & Co.		1,947		68,476
Gilead Sciences, Inc.^*		1,520		64,509
Baxter International, Inc.		1,110		59,685
Express Scripts, Inc. — Class A^*		1,010		56,166
Celgene Corp.^*		890		51,202
WellPoint, Inc.		720		50,249
Covidien plc		940		48,824
Medco Health Solutions, Inc.^*		770		43,243
Thermo Fisher Scientific, Inc.^*		750		41,662
Allergan, Inc.		580		41,192
Stryker Corp.		640		38,912
McKesson Corp.		490		38,734
Genzyme Corp.^*		500		38,075
Biogen Idec, Inc.^*		458		33,613
Becton Dickinson and Co.		420		33,440
St. Jude Medical, Inc.		620		31,781
Agilent Technologies, Inc.^*		660		29,555
Aetna, Inc.		740		27,698
Cardinal Health, Inc.		670		27,557
Intuitive Surgical, Inc.^*		70		23,342
CIGNA Corp.		520		23,026
Zimmer Holdings, Inc.^*		370		22,396
Humana, Inc.^*		320		22,381
Boston Scientific Corp.^*		2,910		20,923
AmerisourceBergen Corp. — Class A		520		20,571
Edwards Lifesciences Corp.^*		220		19,140
Mylan, Inc.^*		840		19,043
Life Technologies Corp.^*		340		17,823
Forest Laboratories, Inc.^*		550		17,765
Hospira, Inc.^*		320		17,664
Laboratory Corporation of America Holdings^*		190		17,505
Quest Diagnostics, Inc.		300		17,316
CR Bard, Inc.		160		15,890
Cerner Corp.^*		140		15,568
Varian Medical Systems, Inc.^*		230		15,557
DaVita, Inc.^*		180		15,392
Waters Corp.^*		170		14,773
Watson Pharmaceuticals, Inc.^*		240		13,442
CareFusion Corp.^*		430		12,126
Cephalon, Inc.^*		140		10,609
DENTSPLY International, Inc.		270		9,987
Coventry Health Care, Inc.^*		290		9,248
Tenet Healthcare Corp.^*		930		6,929
Patterson Companies, Inc.		180		5,794
PerkinElmer, Inc.		220		5,779

Total Health Care				2,551,364

Consumer Discretionary - 6.2%
Walt Disney Co.		3,630		156,417
McDonald’s Corp.		2,000		152,180
Comcast Corp. — Class A		5,310		131,263
Amazon.com, Inc.^*		680		122,488
Home Depot, Inc.		3,130		115,998
Ford Motor Co.^*		7,240		107,948
News Corp. — Class A^*		4,370		76,737
Time Warner, Inc.		2,090		74,613
DIRECTV — Class A^*		1,520		71,136
Lowe’s Companies, Inc.		2,640		69,775
Target Corp.		1,350		67,513
NIKE, Inc. — Class B		730		55,261
Johnson Controls, Inc.		1,297		53,916
Viacom, Inc. — Class B		1,140		53,033
Starbucks Corp.		1,430		52,838


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds Nova Fund


	Shares		Value
COMMON STOCKS ^† - 59.4% (continued)
Consumer Discretionary - 6.2% (continued)
Time Warner Cable, Inc. — Class A		660	$	47,084
Yum! Brands, Inc.		890		45,728
Priceline.com, Inc.^*		90		45,580
TJX Companies, Inc.		760		37,795
CBS Corp. — Class B		1,290		32,302
Carnival Corp.		830		31,839
Kohl’s Corp.		560		29,702
Coach, Inc.		570		29,663
Staples, Inc.		1,380		26,800
Omnicom Group, Inc.		540		26,492
Stanley Black & Decker, Inc.		320		24,512
Bed Bath & Beyond, Inc.^*		487		23,507
McGraw-Hill Companies, Inc.		590		23,246
Discovery Communications, Inc. — Class A^*		540		21,546
Starwood Hotels & Resorts Worldwide, Inc.		370		21,504
Marriott International, Inc. — Class A		563		20,032
Macy’s, Inc.		808		19,602
Harley-Davidson, Inc.		450		19,121
Wynn Resorts Ltd.		150		19,087
Netflix, Inc.^*		80		18,986
The Gap, Inc.		830		18,808
Best Buy Company, Inc.		630		18,094
Fortune Brands, Inc.		290		17,948
Limited Brands, Inc.		510		16,769
VF Corp.		170		16,750
Mattel, Inc.		670		16,703
Ross Stores, Inc.		230		16,358
JC Penney Company, Inc.		450		16,160
Genuine Parts Co.		300		16,092
Polo Ralph Lauren Corp. — Class A		127		15,704
O’Reilly Automotive, Inc.^*		270		15,514
Cablevision Systems Corp. — Class A		440		15,228
Tiffany & Co.		240		14,746
Nordstrom, Inc.		320		14,362
CarMax, Inc.^*		430		13,803
AutoZone, Inc.^*		50		13,678
Whirlpool Corp.		150		12,804
Darden Restaurants, Inc.		260		12,774
Family Dollar Stores, Inc.		240		12,317
Hasbro, Inc.		260		12,178
Interpublic Group of Companies, Inc.		940		11,816
Newell Rubbermaid, Inc.		560		10,713
Wyndham Worldwide Corp.		330		10,497
Apollo Group, Inc. — Class A^*		240		10,010
Abercrombie & Fitch Co. — Class A		170		9,979
H&R Block, Inc.		580		9,709
International Game Technology		570		9,251
Expedia, Inc.		380		8,611
Scripps Networks Interactive, Inc. — Class A		170		8,515
Urban Outfitters, Inc.^*		240		7,159
Gannett Company, Inc.		460		7,006
Goodyear Tire & Rubber Co.^*		460		6,891
Leggett & Platt, Inc.		280		6,860
Sears Holdings Corp.^*		80		6,612
GameStop Corp. — Class A^*		290		6,531
DeVry, Inc.		116		6,388
DR Horton, Inc.		538		6,268
Harman International Industries, Inc.		130		6,087
Big Lots, Inc.^*		140		6,080
Lennar Corp. — Class A		310		5,617
Pulte Group, Inc.^*		639		4,729
Washington Post Co. — Class B		10		4,376
AutoNation, Inc.^*		120		4,244
RadioShack Corp.		200		3,002

Total Consumer Discretionary				2,408,985

Consumer Staples - 6.1%
Procter & Gamble Co.		5,360		330,176
Coca-Cola Co.		4,390		291,277
Philip Morris International, Inc.		3,440		225,767
Wal-Mart Stores, Inc.		3,750		195,188
PepsiCo, Inc.		3,030		195,162
Kraft Foods, Inc. — Class A		3,352		105,119
Altria Group, Inc.		3,997		104,042
CVS Caremark Corp.		2,620		89,919
Colgate-Palmolive Co.		940		75,914
Walgreen Co.		1,760		70,646
Costco Wholesale Corp.		830		60,856
Kimberly-Clark Corp.		770		50,258
General Mills, Inc.		1,220		44,591
Archer-Daniels-Midland Co.		1,220		43,932
Sysco Corp.		1,110		30,747
HJ Heinz Co.		620		30,268
Kroger Co.		1,220		29,243
Lorillard, Inc.		280		26,603
Kellogg Co.		480		25,910
Reynolds American, Inc.		650		23,095
Mead Johnson Nutrition Co. — Class A		390		22,593
Avon Products, Inc.		820		22,173
Estee Lauder Companies, Inc. — Class A		220		21,199
Sara Lee Corp.		1,190		21,027
ConAgra Foods, Inc.		830		19,713
Whole Foods Market, Inc.		280		18,452
Clorox Co.		260		18,218
Coca-Cola Enterprises, Inc.		630		17,199
Safeway, Inc.		700		16,478
JM Smucker Co.		230		16,420
Hershey Co.		300		16,305
Dr Pepper Snapple Group, Inc.		430		15,979
Molson Coors Brewing Co. — Class B		299		14,020
Brown-Forman Corp. — Class B		200		13,660
McCormick & Company, Inc.		246		11,766
Campbell Soup Co.		350		11,589
Tyson Foods, Inc. — Class A		570		10,938
Hormel Foods Corp.		260		7,238
Constellation Brands, Inc. — Class A^*		340		6,895


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds Nova Fund


	Shares		Value
COMMON STOCKS ^† - 59.4% (continued)
Consumer Staples - 6.1% (continued)
SUPERVALU, Inc.		410	$	3,661
Dean Foods Co.^*		350		3,500

Total Consumer Staples				2,357,736

Materials - 2.2%
Freeport-McMoRan Copper & Gold, Inc. - Class B		1,808		100,434
E. I. du Pont de Nemours & Co.		1,764		96,967
Dow Chemical Co.		2,231		84,220
Monsanto Co.		1,030		74,428
Praxair, Inc.		580		58,928
Newmont Mining Co.		940		51,305
Air Products & Chemicals, Inc.		407		36,703
Alcoa, Inc.		2,030		35,829
PPG Industries, Inc.		310		29,515
Nucor Corp.		600		27,612
International Paper Co.		840		25,351
Cliffs Natural Resources, Inc.		256		25,160
Ecolab, Inc.		450		22,959
CF Industries Holdings, Inc.		140		19,151
Sigma-Aldrich Corp.		230		14,637
United States Steel Co.		270		14,564
Sherwin-Williams Co.		170		14,278
Eastman Chemical Co.		140		13,905
Allegheny Technologies, Inc.		190		12,867
FMC Corp.		140		11,890
Ball Corp.		320		11,472
Vulcan Materials Co.		250		11,400
MeadWestvaco Corp.		320		9,706
Owens-Illinois, Inc.^*		310		9,359
International Flavors & Fragrances, Inc.		150		9,345
Airgas, Inc.		140		9,299
Sealed Air Corp.		300		7,998
Bemis Company, Inc.		200		6,562
AK Steel Holding Corp.		210		3,314
Titanium Metals Corp.^*		170		3,159

Total Materials				852,317

Utilities - 1.9%
Southern Co.		1,625		61,929
Exelon Corp.		1,266		52,210
Dominion Resources, Inc.		1,110		49,617
Duke Energy Corp.		2,540		46,101
NextEra Energy, Inc.		810		44,647
PG&E Corp.		757		33,444
American Electric Power Company, Inc.		920		32,329
Public Service Enterprise Group, Inc.		969		30,533
FirstEnergy Corp.		800		29,672
Consolidated Edison, Inc.		560		28,403
Progress Energy, Inc.		560		25,839
Sempra Energy		460		24,610
PPL Corp.		934		23,630
Entergy Corp.		340		22,851
Edison International		620		22,686
Xcel Energy, Inc.		917		21,907
AES Corp.^*		1,270		16,510
DTE Energy Co.		320		15,667
CenterPoint Energy, Inc.		807		14,171
Wisconsin Energy Corp.		450		13,725
Oneok, Inc.		200		13,376
Ameren Corp.		460		12,912
Constellation Energy Group, Inc.		380		11,829
Northeast Utilities		340		11,764
NiSource, Inc.		529		10,146
NRG Energy, Inc.^*		470		10,124
CMS Energy Corp.		480		9,427
Pinnacle West Capital Corp.		207		8,858
SCANA Corp.		220		8,661
Pepco Holdings, Inc.		430		8,020
TECO Energy, Inc.		410		7,692
Integrys Energy Group, Inc.		146		7,375
Nicor, Inc.		90		4,833

Total Utilities				735,498

Telecommunication Services - 1.8%
AT&T, Inc.		11,311		346,117
Verizon Communications, Inc.		5,407		208,386
American Tower Corp. - Class A^*		760		39,383
Sprint Nextel Corp.^*		5,717		26,527
CenturyLink, Inc.		580		24,099
Qwest Communications International, Inc.		3,329		22,737
Frontier Communications Corp.		1,900		15,618
Windstream Corp.		960		12,355
MetroPCS Communications, Inc.^*		500		8,120

Total Telecommunication Services				703,342

Total Common Stocks (Cost $13,276,362)				23,087,342


	Face
	Amount		Value
REPURCHASE AGREEMENTS ^††,1 - 31.9%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11²	$	5,310,551	$	5,310,551
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		1,909,702		1,909,702
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		1,720,346		1,720,346
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		1,720,346		1,720,346
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		1,720,346		1,720,346

Total Repurchase Agreements (Cost $12,381,291)				12,381,291


Total Investments - 91.3% (Cost $25,657,653)			$	35,468,633
Cash & Other Assets, Less Liabilities - 8.7%				3,387,048

Total Net Assets - 100.0%			$	38,855,681


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds Nova Fund


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS PURCHASED^†
June 2011 S&P 500 Index Mini Futures Contracts (Aggregate Value of Contracts $5,879,563)		89	$	43,319


			Unrealized
	Units		Gain
EQUITY INDEX SWAP AGREEMENTS ^††
Goldman Sachs International April 2011 S&P 500 Index Swap, Terminating 04/27/11³ (Notional Value $16,275,673)		12,276	$	168,431
Credit Suisse Capital, LLC April 2011 S&P 500 Index Swap, Terminating 04/28/11³ (Notional Value $7,896,875)		5,956		74,244
Morgan Stanley Capital Services, Inc. April 2011 S&P 500 Index Swap, Terminating 04/26/11³ (Notional Value $5,072,806)		3,826		47,461

(Total Notional Value $29,245,354)			$	290,136


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreements — See Note 2.

2		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

3		Total Return based on S&P 500 Index +/- financing at a variable rate.

plc		Public Limited Company

REIT		Real Estate Investment Trust


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Inverse S&P 500 Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 64.4%
Federal Home Loan Bank¹
0.08% due 04/12/11	$	4,000,000	$	3,999,902
Fannie Mae²
0.08% due 05/10/11		3,000,000		2,999,740
Farmer Mac¹
0.10% due 06/10/11		3,000,000		2,999,475
Federal Farm Credit Bank¹
0.07% due 04/19/11		2,000,000		1,999,930

Total Federal Agency Discount Notes (Cost $11,998,993)				11,999,047

REPURCHASE AGREEMENTS^††,3 - 33.1%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11⁴		2,221,238		2,221,238
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		1,067,581		1,067,581
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		961,726		961,726
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		961,726		961,726
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		961,726		961,726


Total Repurchase Agreements (Cost $6,173,997)				6,173,997

Total Investments - 97.5% (Cost $18,172,990)			$	18,173,044
Cash & Other Assets, Less Liabilities - 2.5%				464,163
Total Net Assets - 100.0%			$	18,637,207


			Unrealized
	Contracts		Loss
FUTURES CONTRACTS SOLD SHORT^†
June 2011 S&P 500 Index Mini Futures Contracts (Aggregate Value of Contracts $7,465,063)		113	$	(76,770	)


			Unrealized
	Units		Loss
EQUITY INDEX SWAP AGREEMENTS SOLD SHORT^††
Morgan Stanley Capital Services, Inc. April 2011 S&P 500 Index Swap, Terminating 04/26/11⁵ (Notional Value $1,066,874)		805	$	(10,005	)
Goldman Sachs International April 2011 S&P 500 Index Swap, Terminating 04/27/11⁵ (Notional Value $2,746,513)		2,072		(36,823	)
Credit Suisse Capital, LLC April 2011 S&P 500 Index Swap, Terminating 04/28/11⁵ (Notional Value $7,391,627)		5,575		(43,205	)
(Total Notional Value $11,205,014)			$	(90,033	)


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

2		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

3		Repurchase Agreements — See Note 2.

4		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

5		Total Return based on S&P 500 Index +/- financing at a variable rate.


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		NASDAQ-100^® Fund


	Shares		Value
COMMON STOCKS^† - 67.1%
Information Technology - 42.7%
Apple, Inc.^*		22,470	$	7,829,671
QUALCOMM, Inc.		34,670		1,900,956
Google, Inc. — Class A^*		2,670		1,565,181
Microsoft Corp.		50,580		1,282,709
Oracle Corp.		36,850		1,229,684
Intel Corp.		33,610		677,914
Baidu, Inc. ADR^*		4,870		671,135
Cisco Systems, Inc.		34,540		592,361
eBay, Inc.^*		16,940		525,818
Research In Motion Ltd.^*		9,090		514,221
Cognizant Technology Solutions Corp. — Class A^*		5,190		422,466
Intuit, Inc.^*		6,840		363,204
Altera Corp.		7,871		346,481
NetApp, Inc.^*		6,610		318,470
Automatic Data Processing, Inc.		6,140		315,043
Broadcom Corp. — Class A		7,733		304,526
Adobe Systems, Inc.^*		8,680		287,829
Citrix Systems, Inc.^*		3,900		286,494
Symantec Corp.^*		13,960		258,818
CA, Inc.		8,570		207,223
Micron Technology, Inc.^*		17,860		204,676
Activision Blizzard, Inc.		18,460		202,506
Fiserv, Inc.^*		3,200		200,704
Xilinx, Inc.		6,060		198,768
SanDisk Corp.^*		4,210		194,039
Paychex, Inc.		6,000		188,160
Applied Materials, Inc.		11,930		186,347
NVIDIA Corp.^*		9,980		184,231
Check Point Software Technologies Ltd.^*		3,600		183,780
Yahoo!, Inc.^*		11,010		183,316
Autodesk, Inc.^*		4,140		182,615
BMC Software, Inc.^*		3,630		180,556
Dell, Inc.^*		12,420		180,214
Linear Technology Corp.		5,300		178,239
Marvell Technology Group Ltd.^*		10,860		168,873
KLA-Tencor Corp.		3,540		167,690
F5 Networks, Inc.^*		1,360		139,495
Infosys Technologies Ltd. ADR		1,880		134,796
Maxim Integrated Products, Inc.		5,100		130,560
Lam Research Corp.^*		2,230		126,352
Akamai Technologies, Inc.^*		3,260		123,880
Electronic Arts, Inc.^*		5,890		115,032
Seagate Technology plc^*		7,900		113,760
Flextronics International Ltd.^*		14,420		107,717
Microchip Technology, Inc.		2,740		104,147
VeriSign, Inc.		2,860		103,561
FLIR Systems, Inc.		2,900		100,369

Total Information Technology				24,184,587

Consumer Discretionary - 10.9%
Amazon.com, Inc.^*		5,240		943,881
Starbucks Corp.		18,140		670,273
Comcast Corp. — Class A		25,370		627,146
DIRECTV — Class A^*		10,070		471,276
Priceline.com, Inc.^*		910		460,861
News Corp. — Class A^*		24,970		438,473
Wynn Resorts Ltd.		2,360		300,310
Bed Bath & Beyond, Inc.^*		5,990		289,137
Netflix, Inc.^*		880		208,850
Mattel, Inc.		6,970		173,762
Staples, Inc.		8,500		165,070
Sears Holdings Corp.^*		1,990		164,474
Virgin Media, Inc.		5,760		160,071
Liberty Media Corp — Interactive^*		9,620		154,305
Ross Stores, Inc.		2,110		150,063
O’Reilly Automotive, Inc.^*		2,460		141,352
Dollar Tree, Inc.^*		2,310		128,251
Garmin Ltd.		3,380		114,447
Ctrip.com International Ltd. ADR^*		2,670		110,778
Expedia, Inc.		4,690		106,276
Apollo Group, Inc. — Class A^*		2,530		105,526
Urban Outfitters, Inc.^*		2,840		84,717

Total Consumer Discretionary				6,169,299

Health Care - 8.6%
Teva Pharmaceutical Industries Ltd. ADR		12,590		631,640
Gilead Sciences, Inc.^*		13,700		581,428
Celgene Corp.^*		8,160		469,445
Express Scripts, Inc. — Class A^*		8,240		458,227
Genzyme Corp.^*		5,740		437,101
Amgen, Inc.^*		7,600		406,220
Biogen Idec, Inc.^*		4,580		336,126
Intuitive Surgical, Inc.^*		680		226,753
Vertex Pharmaceuticals, Inc.^*		3,740		179,258
Mylan, Inc.^*		7,770		176,146
Life Technologies Corp.^*		3,190		167,220
Cerner Corp.^*		1,450		161,240
Illumina, Inc.^*		2,190		153,453
Henry Schein, Inc.^*		1,600		112,272
Warner Chilcott plc — Class A		4,400		102,432
Cephalon, Inc.^*		1,290		97,756
DENTSPLY International, Inc.		2,390		88,406
QIAGEN N.V.^*		4,130		82,807

Total Health Care				4,867,930

Industrials - 2.6%
PACCAR, Inc.		7,150		374,302
CH Robinson Worldwide, Inc.		2,870		212,753
First Solar, Inc.^*		1,320		212,309
Expeditors International of Washington, Inc.		3,640		182,510
Joy Global, Inc.		1,800		177,858
Fastenal Co.		2,470		160,130
Stericycle, Inc.^*		1,570		139,212

Total Industrials				1,459,074

Telecommunication Services - 1.2%
Vodafone Group plc ADR		13,273		381,599
Millicom International Cellular S.A.		1,850		177,914
NII Holdings, Inc.^*		2,880		120,010

Total Telecommunication Services				679,523

Consumer Staples - 0.9%
Costco Wholesale Corp.		4,020		294,746
Whole Foods Market, Inc.		3,180		209,562

Total Consumer Staples				504,308


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		NASDAQ-100^® Fund


	Shares		Value
COMMON STOCKS^† - 67.1% (continued)
Materials - 0.2%
Sigma-Aldrich Corp.		2,050	$	130,462


Total Common Stocks (Cost $13,595,449)				37,995,183


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,1 - 29.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11²	$	4,617,481	$	4,617,481
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		3,265,500		3,265,500
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		2,941,710		2,941,710
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		2,941,710		2,941,710
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		2,941,710		2,941,710

Total Repurchase Agreements (Cost $16,708,111)				16,708,111

Total Investments - 96.6% (Cost $30,303,560)			$	54,703,294
Cash & Other Assets, Less Liabilities - 3.4%				1,929,777

Total Net Assets - 100.0%			$	56,633,071


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS PURCHASED^†
June 2011 NASDAQ-100 Index Mini Futures Contracts (Aggregate Value of Contracts $3,180,360)		68	$	28,797


			Unrealized
	Units		Gain
EQUITY INDEX SWAP AGREEMENTS^††
Goldman Sachs International
April 2011 NASDAQ-100 Index Swap, Terminating 04/27/11³ (Notional Value $6,724,899)		2,875	$	103,493
Credit Suisse Capital, LLC
April 2011 NASDAQ-100 Index Swap, Terminating 04/28/11³ (Notional Value $5,527,983)		2,363		53,846
Morgan Stanley Capital Services, Inc.
April 2011 NASDAQ-100 Index Swap, Terminating 04/26/11³ (Notional Value $3,340,289)		1,428		32,396

(Total Notional Value $15,593,171)			$	189,735


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreements — See Note 2.

2		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

3		Total Return based on NASDAQ-100 Index +/- financing at a variable rate.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Inverse NASDAQ-100^® Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 44.0%
Fannie Mae¹
0.07% due 05/04/11	$	1,000,000	$	999,936
0.08% due 05/10/11		1,000,000		999,913
Federal Farm Credit Bank²
0.02% due 04/12/11		1,000,000		999,994
Farmer Mac²		1,000,000		999,825
0.10% due 06/10/11		1,000,000		999,825

Total Federal Agency Discount Notes
(Cost $3,999,652)				3,999,668

REPURCHASE AGREEMENTS^††,3 - 62.9%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11⁴	$	1,889,504	$	1,889,504
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		1,032,868		1,032,868
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		930,454		930,454
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		930,454		930,454
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		930,454		930,454

Total Repurchase Agreements
(Cost $5,713,734)				5,713,734

Total Investments - 106.9% (Cost $9,713,386)			$	9,713,402
Liabilities, Less Cash & Other Assets - (6.9)%				(624,368	)
Total Net Assets - 100.0%			$	9,089,034


			Unrealized
	Contracts		Loss
FUTURES CONTRACTS SOLD SHORT^†
June 2011 NASDAQ-100 Index Mini Futures Contracts (Aggregate Value of Contracts $1,356,330)		29	$	(32,712	)


			Unrealized
	Units		Loss
EQUITY INDEX SWAP AGREEMENTS SOLD SHORT^††
Goldman Sachs International
April 2011 NASDAQ-100 Index Swap, Terminating 04/27/11⁵ (Notional Value $517,826)		221	$	(8,032	)
Morgan Stanley Capital Services, Inc.
April 2011 NASDAQ-100 Index Swap, Terminating 04/26/11⁵ (Notional Value $1,801,010)		770		(17,537	)
Credit Suisse Capital, LLC
April 2011 NASDAQ-100 Index Swap, Terminating 04/28/11⁵ (Notional Value $5,415,616)		2,315		(52,751	)

(Total Notional Value $7,734,452)			$	(78,320	)


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

2		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

3		Repurchase Agreements — See Note 2.

4		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

5		Total Return based on NASDAQ-100 Index +/- financing at a variable rate.


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		S&P 500 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 45.1%
Information Technology - 8.1%
Apple, Inc.^*		1,010	$	351,934
International Business Machines Corp.		1,340		218,514
Microsoft Corp.		8,100		205,416
Google, Inc. - Class A^*		270		158,277
Oracle Corp.		4,260		142,156
Intel Corp.		6,010		121,222
Cisco Systems, Inc.		6,060		103,929
QUALCOMM, Inc.		1,800		98,694
Hewlett-Packard Co.		2,380		97,509
EMC Corp.^*		2,270		60,268
Texas Instruments, Inc.		1,280		44,237
Visa, Inc. - Class A		530		39,019
eBay, Inc.^*		1,250		38,800
Corning, Inc.		1,720		35,484
Automatic Data Processing, Inc.		540		27,707
Mastercard, Inc. - Class A		108		27,186
Dell, Inc.^*		1,840		26,698
Cognizant Technology Solutions Corp. - Class A^*		327		26,618
Juniper Networks, Inc.^*		590		24,827
Yahoo!, Inc.^*		1,430		23,809
Applied Materials, Inc.		1,450		22,649
Broadcom Corp. - Class A		520		20,478
NetApp, Inc.^*		400		19,272
Adobe Systems, Inc.^*		550		18,238
Salesforce.com, Inc.^*		130		17,365
Motorola Solutions, Inc.^*		366		16,357
Xerox Corp.		1,530		16,294
Intuit, Inc.^*		300		15,930
Altera Corp.		354		15,583
Symantec Corp.^*		840		15,574
Citrix Systems, Inc.^*		210		15,427
Western Union Co.		710		14,747
Analog Devices, Inc.		330		12,995
SanDisk Corp.^*		260		11,983
NVIDIA Corp.^*		640		11,814
Autodesk, Inc.^*		250		11,027
Paychex, Inc.		350		10,976
Micron Technology, Inc.^*		940		10,772
Amphenol Corp. - Class A		188		10,225
CA, Inc.		420		10,156
Fiserv, Inc.^*		160		10,035
BMC Software, Inc.^*		197		9,799
Red Hat, Inc.^*		210		9,532
Xilinx, Inc.		290		9,512
Fidelity National Information Services, Inc.		290		9,480
Western Digital Corp.^*		250		9,323
F5 Networks, Inc.^*		90		9,231
Teradata Corp.^*		180		9,126
KLA-Tencor Corp.		180		8,527
Linear Technology Corp.		250		8,407
Computer Sciences Corp.		170		8,284
Microchip Technology, Inc.		210		7,982
Akamai Technologies, Inc.^*		210		7,980
Motorola Mobility Holdings, Inc.^*		318		7,759
Electronic Arts, Inc.^*		367		7,168
Harris Corp.		138		6,845
VeriSign, Inc.		187		6,771
FLIR Systems, Inc.		170		5,884
Advanced Micro Devices, Inc.^*		630		5,418
SAIC, Inc.^*		317		5,364
JDS Uniphase Corp.^*		250		5,210
LSI Corp.^*		670		4,556
Jabil Circuit, Inc.		209		4,270
National Semiconductor Corp.		260		3,728
Novellus Systems, Inc.^*		100		3,713
Molex, Inc.		147		3,693
Teradyne, Inc.^*		200		3,562
Total System Services, Inc.		180		3,244
MEMC Electronic Materials, Inc.^*		250		3,240
Lexmark International, Inc. - Class A^*		87		3,222
Compuware Corp.^*		240		2,772
Novell, Inc.^*		390		2,313
Monster Worldwide, Inc.^*		140		2,226
Tellabs, Inc.		400		2,096

Total Information Technology				2,380,438

Financials - 7.1%
JPMorgan Chase & Co.		4,360		200,996
Wells Fargo & Co.		5,770		182,909
Berkshire Hathaway, Inc. - Class B^*		1,900		158,897
Bank of America Corp.		11,090		147,830
Citigroup, Inc.^*		31,830		140,689
Goldman Sachs Group, Inc.		570		90,328
U.S. Bancorp		2,107		55,688
American Express Co.		1,150		51,980
MetLife, Inc.		1,160		51,887
Morgan Stanley		1,690		46,171
Bank of New York Mellon Corp.		1,360		40,623
PNC Financial Services Group, Inc.		580		36,534
Simon Property Group, Inc.		330		35,363
Prudential Financial, Inc.		530		32,637
Travelers Companies, Inc.		470		27,956
Aflac, Inc.		520		27,446
Capital One Financial Corp.		500		25,980
State Street Corp.		550		24,717
ACE Ltd.		370		23,939
BB&T Corp.		760		20,862
CME Group, Inc. - Class A		67		20,204
Franklin Resources, Inc.		159		19,888
Charles Schwab Corp.		1,090		19,653
Chubb Corp.		320		19,619
AON Corp.		360		19,066
T. Rowe Price Group, Inc.		280		18,598
Allstate Corp.		580		18,432
Equity Residential		320		18,051
Marsh & McLennan Companies, Inc.		600		17,886
SunTrust Banks, Inc.		590		17,016
HCP, Inc.		440		16,694
Ameriprise Financial, Inc.		270		16,492
Public Storage		147		16,304
Vornado Realty Trust		180		15,750
Progressive Corp.		720		15,214
Boston Properties, Inc.		157		14,891
Loews Corp.		340		14,650
Weyerhaeuser Co.		590		14,514
Discover Financial Services		598		14,424


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		S&P 500 2x Strategy Fund


	Shares		Value
Fifth Third Bancorp		1,010		14,019
Northern Trust Corp.		270		13,702
Host Hotels & Resorts, Inc.		750		13,207
Hartford Financial Services Group, Inc.		490		13,196
Invesco Ltd.		500		12,780
M&T Bank Corp.		130		11,501
Principal Financial Group, Inc.		350		11,238
Lincoln National Corp.		350		10,514
AvalonBay Communities, Inc.		86		10,327
NYSE Euronext		290		10,199
Regions Financial Corp.		1,380		10,019
Health Care REIT, Inc.		190		9,964
ProLogis		620		9,908
IntercontinentalExchange, Inc.^*		80		9,883
Ventas, Inc.		177		9,611
KeyCorp		1,040		9,235
Unum Group		340		8,925
SLM Corp.^*		580		8,874
CB Richard Ellis Group, Inc. — Class A^*		320		8,544
XL Group plc — Class A		340		8,364
Leucadia National Corp.		220		8,259
Kimco Realty Corp.		450		8,253
Plum Creek Timber Company, Inc.		180		7,850
Moody’s Corp.		219		7,426
Genworth Financial, Inc. — Class A^*		540		7,268
Comerica, Inc.		190		6,977
Huntington Bancshares, Inc.		950		6,308
Legg Mason, Inc.		170		6,135
Torchmark Corp.		90		5,983
Cincinnati Financial Corp.		177		5,805
Hudson City Bancorp, Inc.		580		5,614
American International Group, Inc.^*		157		5,517
People’s United Financial, Inc.		400		5,032
Zions Bancorporation		200		4,612
Marshall & Ilsley Corp.		577		4,610
Assurant, Inc.		110		4,236
NASDAQ OMX Group, Inc.^*		160		4,134
ETrade Financial Corp.^		240		3,751
Apartment Investment & Management Co. — Class A		128		3,260
First Horizon National Corp.		290		3,251
Federated Investors, Inc. — Class B		100		2,675
Janus Capital Group, Inc.		200		2,494

Total Financials				2,084,238

Energy - 6.0%
Exxon Mobil Corp.		5,430		456,826
Chevron Corp.		2,197		236,024
Schlumberger Ltd.		1,490		138,957
ConocoPhillips		1,570		125,380
Occidental Petroleum Corp.		887		92,683
Apache Corp.		420		54,986
Halliburton Co.		997		49,690
Anadarko Petroleum Corp.		540		44,237
Devon Energy Corp.		470		43,132
Marathon Oil Corp.		780		41,582
National Oilwell Varco, Inc.		457		36,226
Baker Hughes, Inc.		480		35,246
EOG Resources, Inc.		290		34,368
Hess Corp.		330		28,119
Chesapeake Energy Corp.		720		24,134
Peabody Energy Corp.		297		21,372
Williams Companies, Inc.		640		19,955
Spectra Energy Corp.		707		19,216
Valero Energy Corp.		620		18,488
Noble Energy, Inc.		186		17,977
Southwestern Energy Co.^*		380		16,329
Murphy Oil Corp.		210		15,418
Cameron International Corp.^*		270		15,417
El Paso Corp.		767		13,806
Consol Energy, Inc.		250		13,408
Pioneer Natural Resources Co.		130		13,250
Noble Corp.		280		12,774
FMC Technologies, Inc.^*		130		12,282
Newfield Exploration Co.^*		150		11,402
Denbury Resources, Inc.^*		440		10,736
Range Resources Corp.		179		10,464
Nabors Industries Ltd.^*		306		9,296
Helmerich & Payne, Inc.		120		8,243
EQT Corp.		157		7,834
QEP Resources, Inc.		190		7,703
Massey Energy Co.		107		7,315
Rowan Companies, Inc.^*		138		6,097
Diamond Offshore Drilling, Inc.		78		6,061
Sunoco, Inc.		130		5,927
Cabot Oil & Gas Corp.		110		5,827
Tesoro Corp.^*		157		4,212

Total Energy				1,752,399

Industrials - 5.1%
General Electric Co.		11,630		233,182
United Technologies Corp.		1,010		85,497
United Parcel Service, Inc. — Class B		1,077		80,043
Caterpillar, Inc.		700		77,945
3M Co.		780		72,930
Boeing Co.		810		59,883
Union Pacific Corp.		540		53,098
Honeywell International, Inc.		859		51,291
Emerson Electric Co.		830		48,497
Deere & Co.		460		44,569
FedEx Corp.		350		32,743
CSX Corp.		410		32,226
General Dynamics Corp.		410		31,390
Danaher Corp.		590		30,621
Illinois Tool Works, Inc.		546		29,331
Norfolk Southern Corp.		390		27,015
Lockheed Martin Corp.		310		24,924
Cummins, Inc.		220		24,116
Tyco International Ltd.		520		23,294
Precision Castparts Corp.		156		22,960
PACCAR, Inc.		399		20,888
Eaton Corp.		370		20,513
Northrop Grumman Corp.		320		20,067
Raytheon Co.		390		19,839
Waste Management, Inc.		520		19,417
Ingersoll-Rand plc		360		17,392
Parker Hannifin Corp.		180		17,042
Rockwell Automation, Inc.		160		15,144
Fluor Corp.		190		13,995
CH Robinson Worldwide, Inc.		177		13,121
Dover Corp.		197		12,951
ITT Corp.		200		12,010
Goodrich Corp.		140		11,974
Expeditors International of Washington, Inc.		230		11,532


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		S&P 500 2x Strategy Fund


	Shares		Value
Rockwell Collins, Inc.		170		11,021
Joy Global, Inc.		110		10,869
Fastenal Co.		160		10,373
Southwest Airlines Co.		817		10,319
Republic Services, Inc. - Class A		340		10,214
First Solar, Inc.^*		60		9,650
L-3 Communications Holdings, Inc. - Class 3		120		9,397
Roper Industries, Inc.		100		8,646
Textron, Inc.		300		8,217
WW Grainger, Inc.		58		7,985
Stericycle, Inc.^*		90		7,980
Flowserve Corp.		60		7,728
Pall Corp.		130		7,489
Jacobs Engineering Group, Inc.^*		140		7,200
Iron Mountain, Inc.		220		6,871
Pitney Bowes, Inc.		217		5,575
Masco Corp.		390		5,429
Quanta Services, Inc.^*		240		5,383
Equifax, Inc.		130		5,051
Avery Dennison Corp.		120		5,035
Robert Half International, Inc.		160		4,896
RR Donnelley & Sons Co.		230		4,352
Cintas Corp.		140		4,238
Dun & Bradstreet Corp.		50		4,012
Snap-On, Inc.		58		3,483
Ryder System, Inc.		60		3,036

Total Industrials				1,495,889

Health Care - 5.0%
Pfizer, Inc.		8,760		177,916
Johnson & Johnson		3,000		177,750
Merck & Company, Inc.		3,380		111,574
Abbott Laboratories		1,697		83,238
Amgen, Inc.^*		1,020		54,519
UnitedHealth Group, Inc.		1,200		54,240
Bristol-Myers Squibb Co.		1,860		49,160
Medtronic, Inc.		1,170		46,040
Eli Lilly & Co.		1,120		39,390
Gilead Sciences, Inc.^*		870		36,923
Baxter International, Inc.		630		33,875
Express Scripts, Inc. - Class A^*		578		32,143
Celgene Corp.^*		510		29,340
WellPoint, Inc.		410		28,614
Covidien plc		540		28,048
Medco Health Solutions, Inc.^*		440		24,711
Thermo Fisher Scientific, Inc.^*		430		23,887
Allergan, Inc.		330		23,437
Stryker Corp.		370		22,496
McKesson Corp.		280		22,134
Genzyme Corp.^*		290		22,084
Becton Dickinson and Co.		240		19,109
Biogen Idec, Inc.^*		260		19,081
St. Jude Medical, Inc.		360		18,454
Agilent Technologies, Inc.^*		380		17,016
Aetna, Inc.		420		15,721
Cardinal Health, Inc.		380		15,629
Intuitive Surgical, Inc.^*		40		13,338
CIGNA Corp.		300		13,284
Zimmer Holdings, Inc.^*		210		12,711
Humana, Inc.^*		180		12,589
Boston Scientific Corp.^*		1,670		12,007
AmerisourceBergen Corp. - Class A		297		11,749
Edwards Lifesciences Corp.^*		130		11,310
Mylan, Inc.^*		480		10,882
Life Technologies Corp.^*		200		10,484
Laboratory Corporation of America Holdings^*		110		10,134
Forest Laboratories, Inc.^*		310		10,013
Quest Diagnostics, Inc.		170		9,813
Hospira, Inc.^*		177		9,770
DaVita, Inc.^*		110		9,406
CR Bard, Inc.		90		8,938
Cerner Corp.^*		80		8,896
Varian Medical Systems, Inc.^*		127		8,590
Waters Corp.^*		97		8,429
Watson Pharmaceuticals, Inc.^*		137		7,673
CareFusion Corp.^*		240		6,768
Cephalon, Inc.^*		80		6,062
DENTSPLY International, Inc.		160		5,918
Coventry Health Care, Inc.^*		160		5,102
Tenet Healthcare Corp.^*		530		3,949
Patterson Companies, Inc.		100		3,219
PerkinElmer, Inc.		120		3,152

Total Health Care				1,460,715

Consumer Discretionary - 4.7%
Walt Disney Co.		2,080		89,627
McDonald’s Corp.		1,140		86,743
Comcast Corp. - Class A		3,040		75,149
Amazon.com, Inc.^*		390		70,251
Home Depot, Inc.		1,800		66,708
Ford Motor Co.^*		4,140		61,727
News Corp. - Class A^*		2,500		43,900
Time Warner, Inc.		1,200		42,840
DIRECTV - Class A^*		870		40,716
Lowe’s Companies, Inc.		1,510		39,909
Target Corp.		780		39,008
NIKE, Inc. - Class B		420		31,794
Johnson Controls, Inc.		738		30,679
Starbucks Corp.		820		30,299
Viacom, Inc. - Class B		650		30,238
Time Warner Cable, Inc. - Class A		380		27,109
Yum! Brands, Inc.		510		26,204
Priceline.com, Inc.^*		47		23,803
TJX Companies, Inc.		430		21,384
CBS Corp. - Class B		740		18,530
Carnival Corp.		470		18,029
Kohl’s Corp.		320		16,973
Coach, Inc.		320		16,653
Staples, Inc.		790		15,342
Omnicom Group, Inc.		310		15,209
Stanley Black & Decker, Inc.		180		13,788
Bed Bath & Beyond, Inc.^*		280		13,516
McGraw-Hill Companies, Inc.		340		13,396
Discovery Communications, Inc. - Class A^*		310		12,369
Starwood Hotels & Resorts Worldwide, Inc.		210		12,205
Netflix, Inc.^*		50		11,866
Marriott International, Inc. - Class A		320		11,386
Macy’s, Inc.		457		11,087
Harley-Davidson, Inc.		260		11,047
The Gap, Inc.		480		10,877
Fortune Brands, Inc.		170		10,521
Best Buy Company, Inc.		360		10,339


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		S&P 500 2x Strategy Fund


	Shares		Value
Wynn Resorts Ltd.		80		10,180
Limited Brands, Inc.		290		9,535
Mattel, Inc.		380		9,473
Ross Stores, Inc.		130		9,246
JC Penney Company, Inc.		257		9,229
Genuine Parts Co.		170		9,119
Polo Ralph Lauren Corp. - Class A		70		8,655
Cablevision Systems Corp. - Class A		250		8,652
O’Reilly Automotive, Inc.^*		150		8,619
Tiffany & Co.		140		8,602
VF Corp.		87		8,572
Nordstrom, Inc.		180		8,078
CarMax, Inc.^*		250		8,025
AutoZone, Inc.^*		27		7,386
Darden Restaurants, Inc.		148		7,271
Family Dollar Stores, Inc.		140		7,185
Hasbro, Inc.		150		7,026
Interpublic Group of Companies, Inc.		540		6,788
Whirlpool Corp.		79		6,743
Newell Rubbermaid, Inc.		320		6,122
Wyndham Worldwide Corp.		190		6,044
Abercrombie & Fitch Co. - Class A		99		5,811
H&R Block, Inc.		330		5,524
Apollo Group, Inc. - Class A^*		130		5,422
International Game Technology		330		5,356
Expedia, Inc.		220		4,985
Scripps Networks Interactive, Inc. - Class A		97		4,859
Washington Post Co. - Class B		10		4,376
Urban Outfitters, Inc.^*		140		4,176
Sears Holdings Corp.^*		50		4,132
Goodyear Tire & Rubber Co.^*		270		4,045
Gannett Company, Inc.		260		3,960
Leggett & Platt, Inc.		160		3,920
GameStop Corp. - Class A^*		167		3,761
DeVry, Inc.		68		3,745
Harman International Industries, Inc.		78		3,652
DR Horton, Inc.		306		3,565
Big Lots, Inc.^*		80		3,474
Lennar Corp. - Class A		177		3,207
Pulte Group, Inc.^*		370		2,738
AutoNation, Inc.^*		70		2,476
RadioShack Corp.		120		1,801

Total Consumer Discretionary				1,376,756

Consumer Staples - 4.6%
Procter & Gamble Co.		3,070		189,112
Coca-Cola Co.		2,510		166,538
Philip Morris International, Inc.		1,970		129,291
PepsiCo, Inc.		1,740		112,073
Wal-Mart Stores, Inc.		2,150		111,907
Kraft Foods, Inc. - Class A		1,917		60,117
Altria Group, Inc.		2,287		59,531
CVS Caremark Corp.		1,500		51,480
Colgate-Palmolive Co.		540		43,610
Walgreen Co.		1,010		40,541
Costco Wholesale Corp.		479		35,120
Kimberly-Clark Corp.		440		28,719
General Mills, Inc.		700		25,585
Archer-Daniels-Midland Co.		700		25,207
Sysco Corp.		640		17,728
HJ Heinz Co.		350		17,087
Kroger Co.		700		16,779
Kellogg Co.		280		15,114
Lorillard, Inc.		157		14,917
Reynolds American, Inc.		370		13,146
Mead Johnson Nutrition Co. - Class A		220		12,745
Avon Products, Inc.		470		12,709
Estee Lauder Companies, Inc. - Class A		130		12,527
Sara Lee Corp.		680		12,016
ConAgra Foods, Inc.		480		11,400
Whole Foods Market, Inc.		160		10,544
Clorox Co.		150		10,511
Coca-Cola Enterprises, Inc.		360		9,828
Safeway, Inc.		400		9,416
Dr Pepper Snapple Group, Inc.		250		9,290
Hershey Co.		170		9,239
JM Smucker Co.		127		9,067
Molson Coors Brewing Co. - Class B		170		7,971
Brown-Forman Corp. - Class B		107		7,308
McCormick & Company, Inc.		150		7,175
Campbell Soup Co.		200		6,622
Tyson Foods, Inc. - Class A		330		6,333
Hormel Foods Corp.		150		4,176
Constellation Brands, Inc. - Class A^*		190		3,853
SUPERVALU, Inc.		230		2,054
Dean Foods Co.^*		197		1,970

Total Consumer Staples				1,350,356

Materials - 1.7%
Freeport-McMoRan Copper & Gold, Inc.		1,040		57,772
E. I. du Pont de Nemours & Co.		1,008		55,410
Dow Chemical Co.		1,280		48,320
Monsanto Co.		590		42,633
Praxair, Inc.		330		33,528
Newmont Mining Co.		540		29,473
Air Products & Chemicals, Inc.		240		21,643
Alcoa, Inc.		1,160		20,474
PPG Industries, Inc.		180		17,138
Nucor Corp.		350		16,107
International Paper Co.		480		14,486
Cliffs Natural Resources, Inc.		147		14,447
Ecolab, Inc.		250		12,755
CF Industries Holdings, Inc.		80		10,943
United States Steel Co.		160		8,630
Sherwin-Williams Co.		100		8,399
Sigma-Aldrich Corp.		130		8,273
Eastman Chemical Co.		80		7,946
Allegheny Technologies, Inc.		107		7,246
Ball Corp.		190		6,812
FMC Corp.		79		6,710
Vulcan Materials Co.		140		6,384
International Flavors & Fragrances, Inc.		90		5,607
MeadWestvaco Corp.		180		5,459
Owens-Illinois, Inc.^*		180		5,434
Airgas, Inc.		80		5,314
Sealed Air Corp.		170		4,532
Bemis Company, Inc.		120		3,937
AK Steel Holding Corp.		120		1,894


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		S&P 500 2x Strategy Fund


	Shares		Value
Titanium Metals Corp.^*		100		1,858

Total Materials				489,564

Utilities - 1.4%
Southern Co.		925		35,252
Exelon Corp.		730		30,105
Dominion Resources, Inc.		640		28,608
Duke Energy Corp.		1,460		26,499
NextEra Energy, Inc.		460		25,355
PG&E Corp.		430		18,997
American Electric Power Company, Inc.		530		18,624
Public Service Enterprise Group, Inc.		550		17,331
FirstEnergy Corp.		460		17,061
Consolidated Edison, Inc.		320		16,230
Progress Energy, Inc.		320		14,765
Sempra Energy		260		13,910
Entergy Corp.		200		13,442
PPL Corp.		530		13,409
Edison International		360		13,172
Xcel Energy, Inc.		530		12,662
AES Corp.^*		730		9,490
DTE Energy Co.		190		9,302
CenterPoint Energy, Inc.		467		8,201
Oneok, Inc.		117		7,825
Wisconsin Energy Corp.		256		7,808
Ameren Corp.		256		7,186
Constellation Energy Group, Inc.		220		6,849
Northeast Utilities		189		6,539
NiSource, Inc.		307		5,888
NRG Energy, Inc.^*		270		5,816
CMS Energy Corp.		277		5,440
Pinnacle West Capital Corp.		120		5,135
SCANA Corp.		120		4,724
Pepco Holdings, Inc.		247		4,607
Integrys Energy Group, Inc.		90		4,546
TECO Energy, Inc.		238		4,465
Nicor, Inc.		47		2,524

Total Utilities				421,767

Telecommunication Services - 1.4%
AT&T, Inc.		6,480		198,288
Verizon Communications, Inc.		3,100		119,474
American Tower Corp. - Class A^*		440		22,801
Sprint Nextel Corp.^*		3,280		15,219
CenturyLink, Inc.		329		13,670
Qwest Communications International, Inc.		1,907		13,025
Frontier Communications Corp.		1,090		8,960
Windstream Corp.		550		7,078
MetroPCS Communications, Inc.^*		290		4,710

Total Telecommunication Services				403,225

Total Common Stocks (Cost $9,053,055)				13,215,347

WARRANT^†† - 0.0%
Consumer Discretionary - 0.0%
Krispy Kreme Doughnuts, Inc. $12.21, 03/02/12		4		1

Total Warrant
(Cost $—)				1


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,1 - 24.2%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11²	$	2,829,093	$	2,829,093
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		1,148,122		1,148,122
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		1,034,280		1,034,280
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		1,034,280		1,034,280
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		1,034,280		1,034,280

Total Repurchase Agreements
(Cost $7,080,055)				7,080,055


Total Investments - 69.3%
(Cost $16,133,110)			$	20,295,403
Cash & Other Assets, Less Liabilities - 30.7%				8,972,299

Total Net Assets - 100.0%			$	29,267,702


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS PURCHASED^†
June 2011 S&P 500 Index Mini Futures Contracts (Aggregate Value of Contracts $7,002,625)		106	$	53,492


			Unrealized
	Units		Gain
EQUITY INDEX SWAP AGREEMENTS^††
Morgan Stanley Capital Services, Inc. April 2011 S&P 500 Index Swap, Terminating 04/26/11³ (Notional Value $10,210,601)		7,701	$	95,530
Goldman Sachs International April 2011 S&P 500 Index Swap, Terminating 04/27/11³ (Notional Value $21,760,538)		16,413		72,630
Credit Suisse Capital, LLC April 2011 S&P 500 Index Swap, Terminating 04/28/11³ (Notional Value $6,412,108)		4,836		60,285

(Total Notional Value $38,383,247)			$	228,445


*		Non-income producing security

†		Value determined based on Level 1 inputs-See Note 3.


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		NASDAQ-100^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 41.9%
Information Technology - 26.7%
Apple, Inc.^*		6,940	$	2,418,243
QUALCOMM, Inc.		10,710		587,229
Google, Inc. - Class A^*		820		480,692
Microsoft Corp.		15,620		396,123
Oracle Corp.		11,380		379,751
Intel Corp.		10,380		209,365
Baidu, Inc. ADR^*		1,500		206,715
Cisco Systems, Inc.		10,670		182,990
eBay, Inc.^*		5,230		162,339
Research In Motion Ltd.^*		2,810		158,962
Cognizant Technology Solutions Corp. - Class A^*		1,600		130,240
Intuit, Inc.^*		2,110		112,041
Altera Corp.		2,432		107,057
NetApp, Inc.^*		2,040		98,287
Automatic Data Processing, Inc.		1,900		97,489
Broadcom Corp. - Class A		2,386		93,961
Adobe Systems, Inc.^*		2,680		88,869
Citrix Systems, Inc.^*		1,200		88,152
Symantec Corp.^*		4,310		79,907
CA, Inc.		2,650		64,077
Micron Technology, Inc.^*		5,520		63,259
Activision Blizzard, Inc.		5,700		62,529
Fiserv, Inc.^*		990		62,093
Xilinx, Inc.		1,870		61,336
SanDisk Corp.^*		1,300		59,917
Paychex, Inc.		1,850		58,016
Applied Materials, Inc.		3,690		57,638
NVIDIA Corp.^*		3,080		56,857
Check Point Software Technologies Ltd.^*		1,110		56,666
Yahoo!, Inc.^*		3,400		56,610
Autodesk, Inc.^*		1,280		56,461
Dell, Inc.^*		3,840		55,718
BMC Software, Inc.^*		1,120		55,709
Linear Technology Corp.		1,640		55,153
Marvell Technology Group Ltd.^*		3,350		52,092
KLA-Tencor Corp.		1,090		51,633
F5 Networks, Inc.^*		420		43,079
Infosys Technologies Ltd. ADR		580		41,586
Maxim Integrated Products, Inc.		1,580		40,448
Lam Research Corp.^*		690		39,095
Akamai Technologies, Inc.^*		1,010		38,380
Electronic Arts, Inc.^*		1,820		35,545
Seagate Technology plc^*		2,440		35,136
Flextronics International Ltd.^*		4,450		33,242
Microchip Technology, Inc.		850		32,308
VeriSign, Inc.		880		31,865
FLIR Systems, Inc.		900		31,149

Total Information Technology				7,466,009

Consumer Discretionary - 6.8%
Amazon.com, Inc.^*		1,620		291,811
Starbucks Corp.		5,600		206,920
Comcast Corp. - Class A		7,840		193,805
DIRECTV - Class A^*		3,110		145,548
Priceline.com, Inc.^*		280		141,803
News Corp. - Class A^*		7,710		135,388
Wynn Resorts Ltd.		730		92,892
Bed Bath & Beyond, Inc.^*		1,850		89,300
Netflix, Inc.^*		270		64,079
Mattel, Inc.		2,150		53,599
Sears Holdings Corp.^*		620		51,243
Staples, Inc.		2,620		50,880
Virgin Media, Inc.		1,780		49,466
Liberty Media Corp - Interactive^*		2,970		47,639
Ross Stores, Inc.		650		46,228
O’Reilly Automotive, Inc.^*		760		43,670
Dollar Tree, Inc.^*		710		39,419
Garmin Ltd.		1,040		35,214
Ctrip.com International Ltd. ADR^*		830		34,437
Expedia, Inc.		1,450		32,857
Apollo Group, Inc. - Class A^*		780		32,534
Urban Outfitters, Inc.^*		880		26,250

Total Consumer Discretionary				1,904,982

Health Care - 5.4%
Teva Pharmaceutical Industries Ltd. ADR		3,890		195,161
Gilead Sciences, Inc.^*		4,230		179,521
Celgene Corp.^*		2,525		145,263
Express Scripts, Inc. - Class A^*		2,550		141,805
Genzyme Corp.^*		1,770		134,785
Amgen, Inc.^*		2,350		125,608
Biogen Idec, Inc.^*		1,410		103,480
Intuitive Surgical, Inc.^*		210		70,027
Vertex Pharmaceuticals, Inc.^*		1,150		55,119
Mylan, Inc.^*		2,400		54,408
Life Technologies Corp.^*		980		51,372
Cerner Corp.^*		448		49,818
Illumina, Inc.^*		680		47,648
Henry Schein, Inc.^*		490		34,383
Warner Chilcott plc - Class A		1,360		31,661
Cephalon, Inc.^*		397		30,085
DENTSPLY International, Inc.		740		27,373
QIAGEN N.V.^*		1,270		25,463

Total Health Care				1,502,980

Industrials - 1.6%
PACCAR, Inc.		2,210		115,694
CH Robinson Worldwide, Inc.		890		65,976
First Solar, Inc.^*		410		65,944
Expeditors International of Washington, Inc.		1,130		56,658
Joy Global, Inc.		550		54,345
Fastenal Co.		760		49,271
Stericycle, Inc.^*		480		42,562

Total Industrials				450,450

Telecommunication Services - 0.7%
Vodafone Group plc ADR		4,096		117,760
Millicom International Cellular S.A.		570		54,817
NII Holdings, Inc.^*		890		37,086

Total Telecommunication Services				209,663

Consumer Staples - 0.6%
Costco Wholesale Corp.		1,240		90,917
Whole Foods Market, Inc.		980		64,582

Total Consumer Staples				155,499


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		NASDAQ-100^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 41.9% (continued)
Materials - 0.1%
Sigma-Aldrich Corp.		630	$	40,093


Total Common Stocks
(Cost $4,503,481)				11,729,676


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,1 - 50.1%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11²	$	6,194,993	$	6,194,993
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		2,116,842		2,116,842
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		1,906,948		1,906,948
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		1,906,948		1,906,948
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		1,906,948		1,906,948

Total Repurchase Agreements
(Cost $14,032,679)				14,032,679


Total Investments - 92.0%
(Cost $18,536,160)			$	25,762,355
Cash & Other Assets, Less Liabilities - 8.0%				2,226,700

Total Net Assets - 100.0%			$	27,989,055


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS PURCHASED^†
June 2011 NASDAQ-100 Index
Mini Futures Contracts (Aggregate Value of Contracts $7,810,590)		167	$	59,192


			Unrealized
	Units		Gain
EQUITY INDEX SWAP AGREEMENTS^††
Goldman Sachs International
April 2011 NASDAQ-100 Index Swap, Terminating 04/27/11³ (Notional Value $25,593,953)		10,942	$	383,204
Morgan Stanley Capital Services, Inc.
April 2011 NASDAQ-100 Index Swap, Terminating 04/26/11³ (Notional Value $6,179,739)		2,642		59,936
Credit Suisse Capital, LLC
April 2011 NASDAQ-100 Index Swap, Terminating 04/28/11³ (Notional Value $4,704,481)		2,011		45,824

(Total Notional Value $36,478,173)			$	488,964


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreements — See Note 2.

2		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

3		Total Return based on NASDAQ-100 Index +/- financing at a variable rate.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Mid-Cap 1.5x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 47.3%
Financials - 9.3%
New York Community Bancorp, Inc.		4,280	$	73,873
Macerich Co.		1,280		63,398
AMB Property Corp.		1,660		59,710
SL Green Realty Corp.		770		57,904
Affiliated Managers Group, Inc.^*		510		55,779
Nationwide Health Properties, Inc.		1,240		52,737
Rayonier, Inc.		790		49,225
Federal Realty Investment Trust		600		48,936
Reinsurance Group of America, Inc. — Class A		770		48,341
Everest Re Group Ltd.		530		46,735
UDR, Inc.		1,790		43,622
MSCI, Inc. — Class A^*		1,170		43,079
Realty Income Corp.		1,230		42,988
Alexandria Real Estate Equities, Inc.		540		42,104
Jones Lang LaSalle, Inc.		420		41,891
Essex Property Trust, Inc.		320		39,680
Camden Property Trust		680		38,638
Raymond James Financial, Inc.		990		37,858
Eaton Vance Corp.		1,170		37,721
Liberty Property Trust		1,120		36,848
W.R. Berkley Corp.		1,130		36,397
Cullen		600		35,412
HCC Insurance Holdings, Inc.		1,130		35,380
Regency Centers Corp.		800		34,784
Duke Realty Corp.		2,480		34,745
Waddell & Reed Financial, Inc. — Class A		840		34,112
SEI Investments Co.		1,420		33,910
Old Republic International Corp.		2,540		32,233
Arthur J Gallagher & Co.		1,059		32,204
East West Bancorp, Inc.		1,460		32,062
Senior Housing Properties Trust		1,390		32,026
Jefferies Group, Inc.		1,250		31,175
Fidelity National Financial, Inc. — Class A		2,190		30,945
Commerce Bancshares, Inc.		765		30,937
BRE Properties, Inc.		630		29,723
Transatlantic Holdings, Inc.		610		29,689
Brown & Brown, Inc.		1,150		29,670
Weingarten Realty Investors		1,180		29,571
Taubman Centers, Inc.		550		29,469
Mack-Cali Realty Corp.		850		28,815
Hospitality Properties Trust		1,210		28,012
First Niagara Financial Group, Inc.		2,050		27,839
American Financial Group, Inc.		750		26,265
City National Corp.		460		26,243
Associated Banc-Corp.		1,700		25,245
Highwoods Properties, Inc.		700		24,507
TCF Financial Corp.		1,530		24,266
SVB Financial Group^*		420		23,911
Corporate Office Properties Trust		660		23,852
Apollo Investment Corp.		1,920		23,155
Bank of Hawaii Corp.		470		22,475
Protective Life Corp.		840		22,302
Valley National Bancorp		1,580		22,057
Omega Healthcare Investors, Inc.		980		21,893
Fulton Financial Corp.		1,950		21,664
StanCorp Financial Group, Inc.		450		20,754
Hanover Insurance Group, Inc.		440		19,910
Prosperity Bancshares, Inc.		460		19,674
Washington Federal, Inc.		1,100		19,074
Aspen Insurance Holdings Ltd.		690		19,016
Synovus Financial Corp.		7,700		18,480
FirstMerit Corp.		1,070		18,254
First American Financial Corp.		1,030		16,995
Greenhill & Company, Inc.		250		16,447
Potlatch Corp.		390		15,678
Webster Financial Corp.		720		15,430
NewAlliance Bancshares, Inc.		1,030		15,285
Unitrin, Inc.		480		14,822
Westamerica Bancorporation		280		14,384
Mercury General Corp.		350		13,695
Cathay General Bancorp		770		13,129
Trustmark Corp.		560		13,115
Astoria Financial Corp.		810		11,640
BancorpSouth, Inc.		719		11,109
International Bancshares Corp.		520		9,537
Equity One, Inc.		470		8,822
Cousins Properties, Inc.		1,018		8,500
PacWest Bancorp		320		6,960

Total Financials				2,308,722

Information Technology - 7.7%
Lam Research Corp.^*		1,210		68,559
Atmel Corp.^*		4,480		61,062
Trimble Navigation Ltd.^*		1,200		60,648
Rovi Corp.^*		1,110		59,552
Skyworks Solutions, Inc.^*		1,820		59,004
Riverbed Technology, Inc.^*		1,480		55,722
Avnet, Inc.^*		1,500		51,135
Cree, Inc.^*		1,070		49,391
ANSYS, Inc.^*		900		48,771
Informatica Corp.^*		930		48,574
Arrow Electronics, Inc.^*		1,130		47,324
Factset Research Systems, Inc.		450		47,128
Polycom, Inc.^*		860		44,591
TIBCO Software, Inc.^*		1,620		44,145
Alliance Data Systems Corp.^*		500		42,945
Rackspace Hosting, Inc.^*		960		41,136
Equinix, Inc.^*		450		40,995
Synopsys, Inc.^*		1,480		40,922
MICROS Systems, Inc.^*		790		39,050
Global Payments, Inc.		780		38,158
Varian Semiconductor Equipment Associates, Inc.^*		740		36,016
Solera Holdings, Inc.		690		35,259
Gartner, Inc.^*		840		35,003
Cypress Semiconductor Corp.^*		1,700		32,946
Ingram Micro, Inc. — Class A^*		1,560		32,807
NCR Corp.^*		1,569		29,560
Vishay Intertechnology, Inc.^*		1,620		28,739
National Instruments Corp.		875		28,674
Jack Henry & Associates, Inc.		838		28,400
Lender Processing Services, Inc.		870		28,005
Broadridge Financial Solutions, Inc.		1,230		27,909


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Mid-Cap 1.5x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 47.3% (continued)
Information Technology - 7.7% (continued)
ADTRAN, Inc.		630	$	26,750
Parametric Technology Corp.^*		1,160		26,088
Concur Technologies, Inc.^*		464		25,729
Cadence Design Systems, Inc.^*		2,630		25,642
Ciena Corp.^*		930		24,143
Tech Data Corp.^*		460		23,396
Diebold, Inc.		640		22,694
Itron, Inc.^*		400		22,576
Fairchild Semiconductor International, Inc. — Class A^*		1,240		22,568
International Rectifier Corp.^*		680		22,481
Zebra Technologies Corp. — Class A^*		550		21,582
AOL, Inc.^*		1,050		20,507
QLogic Corp.^*		1,030		19,106
CoreLogic, Inc.		1,020		18,870
Silicon Laboratories, Inc.^*		430		18,580
DST Systems, Inc.		350		18,487
NeuStar, Inc. — Class A^*		720		18,418
Plantronics, Inc.		480		17,578
RF Micro Devices, Inc.^*		2,710		17,371
Convergys Corp.^*		1,200		17,232
Mentor Graphics Corp.^*		1,080		15,800
Quest Software, Inc.^*		620		15,742
Semtech Corp.^*		620		15,512
Intersil Corp. — Class A		1,220		15,189
Digital River, Inc.^*		380		14,223
Fair Isaac Corp.		390		12,328
SRA International, Inc. — Class A^*		420		11,911
ValueClick, Inc.^*		790		11,423
Acxiom Corp.^*		790		11,336
Integrated Device Technology, Inc.^*		1,480		10,908
ACI Worldwide, Inc.^*		330		10,824
Mantech International Corp. — Class A^*		219		9,286
Advent Software, Inc.^*		320		9,174

Total Information Technology				1,925,584

Industrials - 7.3%
Bucyrus International, Inc. — Class A		800		73,160
AMETEK, Inc.		1,580		69,315
KBR, Inc.		1,480		55,900
Kansas City Southern^*		1,010		54,995
AGCO Corp.^*		929		51,067
Manpower, Inc.		800		50,304
Donaldson Company, Inc.		750		45,967
Hubbell, Inc. — Class B		590		41,908
Timken Co.		800		41,840
Gardner Denver, Inc.		510		39,795
SPX Corp.		500		39,695
Terex Corp.^*		1,070		39,633
J.B. Hunt Transport Services, Inc.		860		39,061
Nordson Corp.		330		37,970
URS Corp.^*		790		36,380
Pentair, Inc.		960		36,278
BE Aerospace, Inc.^*		1,000		35,530
IDEX Corp.		809		35,313
Waste Connections, Inc.		1,120		32,245
Aecom Technology Corp.^*		1,160		32,167
Wabtec Corp.		470		31,880
Kennametal, Inc.		809		31,551
Oshkosh Corp.^*		890		31,488
Lincoln Electric Holdings, Inc.		410		31,127
Thomas & Betts Corp.^*		510		30,330
Kirby Corp.^*		529		30,306
MSC Industrial Direct Co. — Class A		440		30,127
Shaw Group, Inc.^*		830		29,390
Trinity Industries, Inc.		780		28,603
Regal-Beloit Corp.		380		28,055
Harsco Corp.		790		27,879
Graco, Inc.		590		26,839
Carlisle Companies, Inc.		600		26,730
Corrections Corporation of America^*		1,070		26,108
Copart, Inc.^*		590		25,565
Towers Watson & Co. — Class A		450		24,957
Acuity Brands, Inc.		420		24,566
Alliant Techsystems, Inc.		330		23,321
Lennox International, Inc.		440		23,135
Clean Harbors, Inc.^*		230		22,692
Alaska Air Group, Inc.^*		350		22,197
Valmont Industries, Inc.		210		21,918
Crane Co.		450		21,793
Landstar System, Inc.		470		21,470
Con-way, Inc.		540		21,217
Woodward, Inc.		579		20,010
Huntington Ingalls Industries, Inc.^*		480		19,920
United Rentals, Inc.^*		590		19,635
Watsco, Inc.		270		18,822
Alexander & Baldwin, Inc.		400		18,260
GATX Corp.		449		17,358
FTI Consulting, Inc.^*		450		17,248
Herman Miller, Inc.		560		15,394
Brink’s Co.		460		15,231
HNI Corp.		440		13,886
Corporate Executive Board Co.		340		13,726
Deluxe Corp.		500		13,270
Rollins, Inc.		620		12,586
JetBlue Airways Corp.^*		1,980		12,415
Werner Enterprises, Inc.		430		11,382
Mine Safety Appliances Co.		300		11,001
Korn^*		449		9,999
AirTran Holdings, Inc.^*		1,330		9,908
Granite Construction, Inc.		330		9,273

Total Industrials				1,831,091

Consumer Discretionary - 6.6%
BorgWarner, Inc.^*		1,100		87,659
Chipotle Mexican Grill, Inc. — Class A^*		300		81,711
Dollar Tree, Inc.^*		1,230		68,290
Advance Auto Parts, Inc.		780		51,184
PetSmart, Inc.		1,150		47,092
Fossil, Inc.^*		500		46,825
NVR, Inc.^*		59		44,604
Phillips-Van Heusen Corp.		660		42,920
Tractor Supply Co.		710		42,501


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Mid-Cap 1.5x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 47.3% (continued)
Consumer Discretionary - 6.6% (continued)
Gentex Corp.		1,400	$	42,350
Williams-Sonoma, Inc.		1,030		41,715
Panera Bread Co. — Class A^*		310		39,370
Tupperware Brands Corp.		620		37,020
Dick’s Sporting Goods, Inc.^*		870		34,783
Sotheby’s		660		34,716
LKQ Corp.^*		1,430		34,463
Mohawk Industries, Inc.^*		550		33,632
Deckers Outdoor Corp.^*		380		32,737
American Eagle Outfitters, Inc.		1,920		30,509
Foot Locker, Inc.		1,520		29,974
Polaris Industries, Inc.		330		28,717
Toll Brothers, Inc.^*		1,420		28,073
Service Corporation International		2,350		25,991
Chico’s FAS, Inc.		1,740		25,926
Hanesbrands, Inc.^*		940		25,418
Warnaco Group, Inc.^*		430		24,592
Guess?, Inc.		619		24,358
Under Armour, Inc. — Class A^*		350		23,818
John Wiley & Sons, Inc. — Class A		460		23,386
Brinker International, Inc.		880		22,264
Ascena Retail Group, Inc.^*		680		22,039
Rent-A-Center, Inc. — Class A		620		21,644
Aeropostale, Inc.^*		860		20,915
Lamar Advertising Co. — Class A^*		560		20,686
Bally Technologies, Inc.^*		530		20,060
WMS Industries, Inc.^*		560		19,796
DreamWorks Animation SKG, Inc. — Class A^*		700		19,551
Aaron’s, Inc.		710		18,006
Saks, Inc.^*		1,580		17,870
Cheesecake Factory, Inc.^*		590		17,753
ITT Educational Services, Inc.^*		240		17,316
Strayer Education, Inc.		130		16,964
Wendy’s — Class A		3,160		15,895
Timberland Co. — Class A^*		380		15,690
ANN, Inc.^*		530		15,428
Life Time Fitness, Inc.^*		410		15,297
Thor Industries, Inc.		420		14,015
Career Education Corp.^*		610		13,859
Collective Brands, Inc.^*		610		13,164
Office Depot, Inc.^*		2,720		12,594
Meredith Corp.		360		12,211
Matthews International Corp. — Class A		290		11,180
New York Times Co. — Class A^*		1,171		11,089
Regis Corp.		559		9,917
Bob Evans Farms, Inc.		300		9,780
MDC Holdings, Inc.		370		9,379
American Greetings Corp. — Class A		390		9,204
99 Cents Only Stores^*		460		9,016
KB Home		710		8,832
International Speedway Corp. — Class A		289		8,612
Eastman Kodak Co.^*		2,640		8,527
Ryland Group, Inc.		427		6,789
Scholastic Corp.		229		6,192
Scientific Games Corp. — Class A^*		620		5,419
Boyd Gaming Corp.^*		550		5,154
Harte-Hanks, Inc.		380		4,522
Barnes & Noble, Inc.		380		3,492

Total Consumer Discretionary				1,644,455

Health Care - 5.1%
Vertex Pharmaceuticals, Inc.^*		2,000		95,860
Perrigo Co.		810		64,411
Henry Schein, Inc.^*		900		63,153
Hologic, Inc.^*		2,560		56,832
Beckman Coulter, Inc.		680		56,488
Mettler-Toledo International, Inc.^*		320		55,040
Universal Health Services, Inc. — Class B		960		47,434
ResMed, Inc.^*		1,500		45,000
Endo Pharmaceuticals Holdings, Inc.^*		1,150		43,884
IDEXX Laboratories, Inc.^*		560		43,243
Allscripts Healthcare Solutions, Inc.^*		1,850		38,832
Community Health Systems, Inc.^*		907		36,271
Omnicare, Inc.		1,150		34,488
Kinetic Concepts, Inc.^*		619		33,686
United Therapeutics Corp.^*		500		33,510
Covance, Inc.^*		590		32,285
Cooper Companies, Inc.		460		31,947
Pharmaceutical Product Development, Inc.		1,130		31,312
Mednax, Inc.^*		470		31,307
Gen-Probe, Inc.^*		470		31,184
Health Net, Inc.^*		910		29,757
Lincare Holdings, Inc.		940		27,880
Health Management Associates, Inc. — Class A^*		2,470		26,923
Techne Corp.		360		25,776
Hill-Rom Holdings, Inc.		620		23,548
Bio-Rad Laboratories, Inc. — Class A^*		190		22,827
Teleflex, Inc.		390		22,612
VCA Antech, Inc.^*		850		21,403
Charles River Laboratories International, Inc.^*		550		21,109
Owens & Minor, Inc.		620		20,138
LifePoint Hospitals, Inc.^*		500		20,090
STERIS Corp.		580		20,033
Masimo Corp.		580		19,198
Medicis Pharmaceutical Corp. — Class A		580		18,583
WellCare Health Plans, Inc.^*		419		17,577
Thoratec Corp.^*		570		14,780
Immucor, Inc.^*		690		13,648
Kindred Healthcare, Inc.^*		390		9,313

Total Health Care				1,281,362

Materials - 3.3%
Lubrizol Corp.		630		84,395
Albemarle Corp.		900		53,793
Ashland, Inc.		770		44,475
Reliance Steel & Aluminum Co.		730		42,179


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Mid-Cap 1.5x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 47.3% (continued)
Materials - 3.3% (continued)
Martin Marietta Materials, Inc.		449	$	40,262
Steel Dynamics, Inc.		2,140		40,168
Valspar Corp.		940		36,754
Sonoco Products Co.		980		35,505
Aptargroup, Inc.		660		33,086
RPM International, Inc.		1,270		30,137
Compass Minerals International, Inc.		320		29,929
Cabot Corp.		640		29,626
Packaging Corporation of America		1,000		28,890
Rock-Tenn Co. — Class A		390		27,046
Cytec Industries, Inc.		480		26,098
Scotts Miracle-Gro Co. — Class A		450		26,032
Temple-Inland, Inc.		1,060		24,804
Greif, Inc. — Class A		310		20,277
Commercial Metals Co.		1,120		19,342
Carpenter Technology Corp.		430		18,365
Silgan Holdings, Inc.		480		18,307
Olin Corp.		780		17,878
Sensient Technologies Corp.		490		17,562
Intrepid Potash, Inc.^*		430		14,973
NewMarket Corp.		90		14,240
Louisiana-Pacific Corp.^*		1,300		13,650
Minerals Technologies, Inc.		180		12,334
Worthington Industries, Inc.		550		11,506

Total Materials				811,613

Energy - 3.2%
Cimarex Energy Co.		840		96,802
Pride International, Inc.^*		1,740		74,733
Arch Coal, Inc.		1,590		57,304
Plains Exploration & Production Co.^*		1,370		49,635
Oceaneering International, Inc.^*		530		47,408
SM Energy Co.		620		45,998
Patterson-UTI Energy, Inc.		1,510		44,379
Forest Oil Corp.^*		1,109		41,953
Southern Union Co.		1,220		34,916
Superior Energy Services, Inc.^*		770		31,570
Frontier Oil Corp.		1,040		30,493
Tidewater, Inc.		500		29,925
Dril-Quip, Inc.^*		340		26,870
Atwood Oceanics, Inc.^*		550		25,537
Unit Corp.^*		390		24,160
Patriot Coal Corp.^*		900		23,247
Bill Barrett Corp.^*		460		18,359
Helix Energy Solutions Group, Inc.^*		1,040		17,888
Quicksilver Resources, Inc.^*		1,190		17,029
Exterran Holdings, Inc.^*		620		14,713
Comstock Resources, Inc.^*		470		14,542
Northern Oil and Gas, Inc.^*		530		14,151
Overseas Shipholding Group, Inc.		260		8,356

Total Energy				789,968

Utilities - 2.8%
National Fuel Gas Co.		810		59,940
OGE Energy Corp.		960		48,538
NSTAR		1,020		47,195
Energen Corp.		710		44,815
MDU Resources Group, Inc.		1,850		42,494
Alliant Energy Corp.		1,090		42,434
UGI Corp.		1,090		35,861
N.V. Energy, Inc.		2,310		34,396
DPL, Inc.		1,170		32,070
Aqua America, Inc.		1,350		30,902
Atmos Energy Corp.		890		30,349
AGL Resources, Inc.		759		30,239
Questar Corp.		1,730		30,188
Westar Energy, Inc.		1,110		29,326
Great Plains Energy, Inc.		1,330		26,627
Hawaiian Electric Industries, Inc.		929		23,039
Vectren Corp.		800		21,760
Cleco Corp.		600		20,574
WGL Holdings, Inc.		500		19,500
IDACORP, Inc.		480		18,288
Black Hills Corp.		380		12,707
PNM Resources, Inc.		850		12,682

Total Utilities				693,924

Consumer Staples - 1.8%
Green Mountain Coffee Roasters, Inc.^*		1,140		73,655
Church & Dwight Company, Inc.		700		55,538
Energizer Holdings, Inc.^*		690		49,101
Hansen Natural Corp.^*		680		40,956
Smithfield Foods, Inc.^*		1,630		39,218
Corn Products International, Inc.		750		38,865
Ralcorp Holdings, Inc.^*		540		36,952
Alberto-Culver Co. — Class B		840		31,307
BJ’s Wholesale Club, Inc.^*		540		26,363
Flowers Foods, Inc.		740		20,150
Ruddick Corp.		420		16,208
Lancaster Colony Corp.		190		11,514
Universal Corp.		230		10,014
Tootsie Roll Industries, Inc.		248		7,028

Total Consumer Staples				456,869

Telecommunication Services - 0.2%
Telephone & Data Systems, Inc.		900		30,330
tw telecom, Inc. — Class A^*		1,480		28,416

Total Telecommunication Services				58,746

Total Common Stocks
(Cost $8,558,778)				11,802,334

WARRANT^†† - 0.0%
Consumer Discretionary - 0.0%
Krispy Kreme Doughnuts, Inc. $12.21, 03/02/12		155		26



Total Warrant
(Cost $—)				26


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Mid-Cap 1.5x Strategy Fund


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,1 - 44.1%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11²	$	4,406,714	$	4,406,714
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		1,780,973		1,780,973
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		1,604,383		1,604,383
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		1,604,383		1,604,383
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		1,604,383		1,604,383

Total Repurchase Agreements
(Cost $11,000,836)				11,000,836


Total Investments - 91.4%
(Cost $19,559,614)			$	22,803,196
Cash & Other Assets, Less Liabilities - 8.6%				2,157,645

Total Net Assets - 100.0%			$	24,960,841


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS PURCHASED^†
June 2011 S&P MidCap 400 Index Mini Futures Contracts (Aggregate Value of Contracts $987,600)		10	$	18,404


			Unrealized
	Units		Gain
EQUITY INDEX SWAP AGREEMENTS^††
Goldman Sachs International April 2011 S&P MidCap 400 Index Swap, Terminating 04/27/11³ (Notional Value $11,699,653)		11,829	$	233,793
Credit Suisse Capital, LLC April 2011 S&P MidCap 400 Index Swap, Terminating 04/28/11³ (Notional Value $10,069,632)		10,181		164,447
Morgan Stanley Capital Services, Inc. April 2011 S&P MidCap 400 Index Swap, Terminating 04/26/11³ (Notional Value $2,680,051)		2,710		51,293

(Total Notional Value $24,449,336)			$	449,533


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreements — See Note 2.

2		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

3		Total Return based on S&P MidCap 400 Index +/- financing at a variable rate.


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Inverse Mid-Cap Strategy Fund


	Face
	Amount		Value

FEDERAL AGENCY DISCOUNT NOTES^†† - 25.7%
Federal Home Loan Bank¹
0.01% due 04/11/11	$	150,000	$	150,000
Fannie Mae²
0.10% due 06/06/11		150,000		149,975

Total Federal Agency Discount Notes
(Cost $299,974)				299,975

REPURCHASE AGREEMENTS^††,3 - 70.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11⁴		420,573		420,573
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		108,916		108,916
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		98,117		98,117
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		98,117		98,117
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		98,117		98,117

Total Repurchase Agreements
(Cost $823,840)				823,840

Total Investments - 96.2%
(Cost $1,123,814)			$	1,123,815
Cash & Other Assets, Less Liabilities - 3.8%				43,990

Total Net Assets - 100.0%			$	1,167,805


			Unrealized
	Contracts		Loss

FUTURES CONTRACTS SOLD SHORT^†
June 2011 S&P MidCap 400 Index
Mini Futures Contracts (Aggregate Value of Contracts $395,040)		4	$	(10,745	)


			Unrealized
	Units		Loss

EQUITY INDEX SWAP AGREEMENTS SOLD SHORT^††
Morgan Stanley Capital Services, Inc.
April 2011 S&P MidCap 400 Index Swap, Terminating 04/26/11⁵ (Notional Value $62,234)		63	$	(1,195	)
Goldman Sachs International
April 2011 S&P MidCap 400 Index Swap, Terminating 04/27/11⁵ (Notional Value $161,470)		163		(3,794	)
Credit Suisse Capital, LLC
April 2011 S&P MidCap 400 Index Swap, Terminating 04/28/11⁵ (Notional Value $544,867)		551		(10,501	)

(Total Notional Value $768,571)			$	(15,490	)


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

2		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

3		Repurchase Agreements — See Note 2.

4		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

5		Total Return based on S&P MidCap 400 Index +/- financing at a variable rate.


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8%
Financials - 3.5%
American Capital Ltd.^*		218	$	2,158
Highwoods Properties, Inc.		50		1,751
SVB Financial Group^*		30		1,708
Signature Bank ^*		30		1,692
Kilroy Realty Corp.		43		1,670
BioMed Realty Trust, Inc.		86		1,636
Mid-America Apartment Communities, Inc.		25		1,605
Stifel Financial Corp.^*		22		1,579
Tanger Factory Outlet Centers		60		1,574
CBL & Associates Properties, Inc.		90		1,568
Apollo Investment Corp.		128		1,544
MFA Financial, Inc.		176		1,443
Omega Healthcare Investors, Inc.		63		1,407
Alterra Capital Holdings Ltd.		59		1,318
Home Properties, Inc.		22		1,297
Prosperity Bancshares, Inc.		30		1,283
LaSalle Hotel Properties		47		1,269
ProAssurance Corp.^*		20		1,267
Entertainment Properties Trust		27		1,264
National Retail Properties, Inc.		48		1,254
American Campus Communities, Inc.		38		1,254
Washington Real Estate Investment Trust		40		1,244
Potlatch Corp.		30		1,206
Iberiabank Corp.		20		1,203
FirstMerit Corp.		70		1,194
Extra Space Storage, Inc.		57		1,180
Post Properties, Inc.		30		1,178
MGIC Investment Corp.^*		132		1,173
CNO Financial Group, Inc.^*		155		1,164
Equity Lifestyle Properties, Inc.		20		1,153
DiamondRock Hospitality Co.		99		1,106
First American Financial Corp.		67		1,106
Platinum Underwriters Holdings Ltd.		27		1,028
Westamerica Bancorporation		20		1,027
NewAlliance Bancshares, Inc.		68		1,009
Park National Corp.		15		1,002
Healthcare Realty Trust, Inc.		44		999
Ezcorp, Inc. - Class A^*		30		942
Northwest Bancshares, Inc.		74		928
Colonial Properties Trust		48		924
Cash America International, Inc.		20		921
Trustmark Corp.		38		890
Montpelier Re Holdings Ltd.		50		884
PHH Corp.^*		40		871
National Health Investors, Inc.		18		863
Astoria Financial Corp.		60		862
Knight Capital Group, Inc. - Class A^*		64		858
Hatteras Financial Corp.		30		844
Cathay General Bancorp		49		835
EastGroup Properties, Inc.		19		835
DuPont Fabros Technology, Inc.		34		825
American Capital Agency Corp.		28		816
Delphi Financial Group, Inc. - Class A		26		798
Glacier Bancorp, Inc.		53		798
United Bankshares, Inc.		30		796
Webster Financial Corp.		37		793
Medical Properties Trust, Inc.		68		787
Umpqua Holdings Corp.		68		778
Redwood Trust, Inc.		50		778
Whitney Holding Corp.		57		776
Portfolio Recovery Associates, Inc.^*		9		766
DCT Industrial Trust, Inc.		136		755
Sovran Self Storage, Inc.		19		751
Wintrust Financial Corp.		20		735
Tower Group, Inc.		30		721
Susquehanna Bancshares, Inc.		77		720
First Financial Bancorp		43		718
MB Financial, Inc.		34		713
FNB Corp.		67		706
Franklin Street Properties Corp.		50		704
First Cash Financial Services, Inc.^*		18		695
UMB Financial Corp.		18		672
Argo Group International Holdings Ltd.		20		661
Prospect Capital Corp.		54		659
World Acceptance Corp.^*		10		652
Old National Bancorp		60		643
Invesco Mortgage Capital, Inc.		29		634
Starwood Property Trust, Inc.		28		624
Capstead Mortgage Corp.		48		613
U-Store-It Trust		57		600
National Penn Bancshares, Inc.		77		596
Infinity Property & Casualty Corp.		10		595
Provident Financial Services, Inc.		40		592
Hancock Holding Co.		18		591
Radian Group, Inc.		86		586
Pennsylvania Real Estate Investment Trust		41		585
Sunstone Hotel Investors, Inc.^*		57		581
MF Global Holdings Ltd.^*		70		580
First Midwest Bancorp, Inc.		49		578
RLI Corp.		10		577
LTC Properties, Inc.		20		567
Hersha Hospitality Trust - Class A		95		564
Greenlight Capital Re Ltd. - Class A^*		20		564
Strategic Hotels & Resorts, Inc.^*		87		561
Employers Holdings, Inc.		27		558
Associated Estates Realty Corp.		35		556
Anworth Mortgage Asset Corp.		78		553
Tejon Ranch Co.^*		15		551
iStar Financial, Inc.^*		60		551
International Bancshares Corp.		30		550
optionsXpress Holdings, Inc.		30		549
Lexington Realty Trust		58		542
CVB Financial Corp.		58		540
Fifth Street Finance Corp.		40		534
Ocwen Financial Corp.^*		48		529
Texas Capital Bancshares, Inc.^*		20		520


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^†- 17.8% (continued)
Financials - 3.5% (continued)
Glimcher Realty Trust		56	$	518
Columbia Banking System, Inc.		27		518
Acadia Realty Trust		27		511
Primerica, Inc.		20		510
Cousins Properties, Inc.		61		509
Investment Technology Group, Inc.^*		28		509
Sterling Bancshares, Inc.		58		499
Dollar Financial Corp.^*		24		498
BlackRock Kelso Capital Corp.		49		496
Oritani Financial Corp.		39		495
Universal Health Realty Income Trust		12		486
American Equity Investment Life Holding Co.		37		485
Selective Insurance Group, Inc.		28		484
MarketAxess Holdings, Inc.		20		484
Inland Real Estate Corp.		50		477
Investors Real Estate Trust		50		475
KBW, Inc.		18		471
Navigators Group, Inc.^*		9		464
Safety Insurance Group, Inc.		10		461
PrivateBancorp, Inc. - Class A		30		459
Meadowbrook Insurance Group, Inc.		44		455
Horace Mann Educators Corp.		27		454
First Commonwealth Financial Corp.		66		452
First Industrial Realty Trust, Inc.^*		38		452
Pebblebrook Hotel Trust		20		443
Nelnet, Inc. - Class A		20		437
S&T Bancorp, Inc.		20		431
Government Properties Income Trust		16		430
Investors Bancorp, Inc.^*		28		417
Tompkins Financial Corp.		10		416
Piper Jaffray Companies, Inc.^*		10		414
WesBanco, Inc.		20		414
NBT Bancorp, Inc.		18		410
BGC Partners, Inc. - Class A		44		409
PS Business Parks, Inc.		7		406
Sabra Healthcare REIT, Inc.		23		405
Brookline Bancorp, Inc.		38		400
Diamond Hill Investment Group, Inc.		5		400
National Financial Partners Corp.^*		27		398
Oriental Financial Group, Inc.		31		389
Community Bank System, Inc.		16		388
Forestar Group, Inc.^*		20		380
Equity One, Inc.		20		375
PacWest Bancorp		17		370
FelCor Lodging Trust, Inc.^*		60		368
First Financial Bankshares, Inc.		7		360
Chemical Financial Corp.		18		359
Sun Communities, Inc.		10		356
City Holding Co.		10		354
Sandy Spring Bancorp, Inc.		19		351
Banco Latinoamericano de Comercio Exterior S.A. - Class E		20		349
Boston Private Financial Holdings, Inc.		49		346
Renasant Corp.		20		340
Walter Investment Management Corp.		21		339
Oppenheimer Holdings, Inc. - Class A		10		335
First Financial Corp.		10		332
Harleysville Group, Inc.		10		331
Pinnacle Financial Partners, Inc.^*		20		331
Ashford Hospitality Trust, Inc.		30		331
Global Indemnity plc - Class A^*		15		330
Trustco Bank Corp.		55		326
MCG Capital Corp.		50		325
Artio Global Investors, Inc. - Class A		20		323
Education Realty Trust, Inc.		40		321
Provident New York Bancorp		31		320
Lakeland Financial Corp.		14		318
Retail Opportunity Investments Corp.		29		317
Evercore Partners, Inc. - Class A		9		309
FPIC Insurance Group, Inc.^*		8		303
Hilltop Holdings, Inc.^*		30		301
First Potomac Realty Trust		19		299
PennantPark Investment Corp.		25		298
Flushing Financial Corp.		20		298
Western Alliance Bancorporation^*		36		296
Dime Community Bancshares, Inc.		20		295
Agree Realty Corp.		13		292
Internet Capital Group, Inc.^*		20		284
Compass Diversified Holdings		19		280
NorthStar Realty Finance Corp.		52		278
Financial Engines, Inc.^*		10		276
Camden National Corp.		8		274
Suffolk Bancorp		13		273
Simmons First National Corp. - Class A		10		271
Independent Bank Corp.		10		270
Cohen & Steers, Inc.		9		267
TowneBank		17		266
eHealth, Inc.^*		20		266
Hudson Valley Holding Corp.		12		264
Bank of the Ozarks, Inc.		6		262
Duff & Phelps Corp. - Class A		16		256
International. FCStone, Inc.^*		10		254
Cypress Sharpridge Investments, Inc.		20		254
Arrow Financial Corp.		10		247
Urstadt Biddle Properties, Inc. - Class A		13		247
Flagstone Reinsurance Holdings S.A.		27		243
Newcastle Investment Corp.^*		40		242
Cedar Shopping Centers, Inc.		40		241
TradeStation Group, Inc.^*		34		239


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Financials - 3.5% (continued)
PMI Group, Inc.^*		88	$	238
Washington Trust Bancorp, Inc.		10		237
Southside Bancshares, Inc.		11		235
Baldwin & Lyons, Inc. - Class B		10		234
Sterling Bancorp - Class N		23		230
Getty Realty Corp.		10		229
Advance America Cash Advance Centers, Inc.		43		228
Citizens Republic Bancorp, Inc.^*		256		228
Financial Institutions, Inc.		13		228
CNA Surety Corp.^*		9		227
SY Bancorp, Inc.		9		226
GFI Group, Inc.		45		226
Ramco-Gershenson Properties Trust		18		226
Maiden Holdings Ltd.		30		225
German American Bancorp, Inc.		13		223
Main Street Capital Corp.		12		221
Community Trust Bancorp, Inc.		8		221
AMERISAFE, Inc.^*		10		221
Hercules Technology Growth Capital, Inc.		20		220
MVC Capital, Inc.		16		220
NewStar Financial, Inc.^*		20		218
FBL Financial Group, Inc. - Class A		7		215
Great Southern Bancorp, Inc.		10		214
American Safety Insurance Holdings Ltd.^*		10		214
Danvers Bancorp, Inc.		10		214
Kite Realty Group Trust		40		212
Phoenix Companies, Inc.^*		78		212
Cardinal Financial Corp.		18		210
Berkshire Hills Bancorp, Inc.		10		208
West Coast Bancorp^*		60		208
TICC Capital Corp.		19		207
Bryn Mawr Bank Corp.		10		206
Ameris Bancorp		20		203
SCBT Financial Corp.		6		200
Territorial Bancorp, Inc.		10		199
Peapack Gladstone Financial Corp.		15		199
Avatar Holdings, Inc.^*		10		198
CapLease, Inc.		36		197
Farmer Mac - Class C		10		191
Ames National Corp.		10		191
Encore Capital Group, Inc.^*		8		190
Two Harbors Investment Corp.		18		188
Colony Financial, Inc.		10		188
PennyMac Mortgage Investment Trust		10		184
Winthrop Realty Trust		15		184
Gladstone Commercial Corp.		10		182
State Auto Financial Corp.		10		182
Home Bancshares, Inc.		8		182
Triangle Capital Corp.		10		181
Pico Holdings, Inc.^*		6		180
Resource Capital Corp.		27		178
Univest Corporation of Pennsylvania		10		177
Terreno Realty Corp.		10		172
Cogdell Spencer, Inc.		29		172
Amtrust Financial Services, Inc.		9		172
Heartland Financial USA, Inc.		10		170
First Financial Holdings, Inc.		15		170
Enterprise Financial Services Corp.		12		169
Citizens & Northern Corp.		10		168
Sierra Bancorp		15		168
Calamos Asset Management, Inc. - Class A		10		166
Monmouth Real Estate Investment Corp. - Class A		20		164
Apollo Commercial Real Estate Finance, Inc.		10		164
Westfield Financial, Inc.		18		163
Safeguard Scientifics, Inc.^*		8		163
Chatham Lodging Trust		10		163
1st Source Corp.		8		160
RAIT Financial Trust		65		160
OmniAmerican Bancorp, Inc.^*		10		158
Epoch Holding Corp.		10		158
Rockville Financial, Inc.^*		15		156
Centerstate Banks, Inc.		22		154
Nara Bancorp, Inc.^*		16		154
First Bancorp, Inc.		10		153
One Liberty Properties, Inc.		10		151
HFF, Inc. - Class A^*		10		150
First Merchants Corp.		18		149
United Financial Bancorp, Inc.		9		149
ESB Financial Corp.		10		148
CNB Financial Corp.		10		145
First Busey Corp.		28		142
United Community Banks, Inc.^*		60		142
Southwest Bancorp, Inc.		10		142
First Community Bancshares, Inc.		10		142
Heritage Financial Corp.^*		10		142
United Fire & Casualty Co.		7		141
Eagle Bancorp, Inc.^*		10		141
OceanFirst Financial Corp.		10		140
Bancorp, Inc.^*		15		138
Northfield Bancorp, Inc.		10		138
Beneficial Mutual Bancorp, Inc.^*		16		138
THL Credit, Inc.		10		137
Parkway Properties, Inc.		8		136
First Interstate Bancsystem, Inc. - Class A		10		136
Center Financial Corp.^*		18		132
ESSA Bancorp, Inc.		10		132
Citizens, Inc.^*		18		131
Trico Bancshares		8		130
Capital City Bank Group, Inc.		10		127
Meridian Interstate Bancorp, Inc.^*		9		126
CoBiz Financial, Inc.		18		125
Marlin Business Services Corp.^*		10		123
Bank Mutual Corp.		29		123
Abington Bancorp, Inc.		10		122
Encore Bancshares, Inc.^*		10		121
Dynex Capital, Inc.		12		121


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Financials - 3.5% (continued)
First Bancorp		9	$	119
Clifton Savings Bancorp, Inc.		10		119
Excel Trust, Inc.		10		118
Republic Bancorp, Inc. - Class A		6		117
CreXus Investment Corp.		10		114
Gladstone Capital Corp.		10		113
Roma Financial Corp.		10		111
SWS Group, Inc.		18		109
Harris & Harris Group, Inc.^*		20		108
FBR Capital Markets Corp.^*		30		107
Donegal Group, Inc. - Class A		8		107
Taylor Capital Group, Inc.^*		10		105
Chesapeake Lodging Trust		6		104
State Bancorp, Inc.		10		104
Pacific Continental Corp.		10		102
Kearny Financial Corp.		10		100
MPG Office Trust, Inc.^*		27		100
UMH Properties, Inc.		10		99
Kennedy-Wilson Holdings, Inc.^*		9		98
Presidential Life Corp.		10		95
Crawford & Co. - Class B		20		95
SeaBright Holdings, Inc.		9		92
Union First Market Bankshares Corp.		8		90
Sanders Morris Harris Group, Inc.		11		88
First Marblehead Corp.^*		40		88
Medallion Financial Corp.		10		88
Metro Bancorp, Inc.^*		7		86
JMP Group, Inc.		10		86
Asta Funding, Inc.		10		86
StellarOne Corp.		6		85
Washington Banking Co.		6		85
Peoples Bancorp, Inc.		7		84
Hallmark Financial Services^*		10		84
Hanmi Financial Corp.^*		67		83
BankFinancial Corp.		9		83
Gleacher & Company, Inc.^*		47		82
Cowen Group, Inc. - Class A^*		20		80
West Bancorporation, Inc.		10		80
LaBranche & Company, Inc.^*		20		79
ViewPoint Financial Group		6		78
NGP Capital Resources Co.		8		77
Home Federal Bancorp, Inc.		6		71
1st United Bancorp, Inc.^*		10		70
Penson Worldwide, Inc.^*		10		67
Ladenburg Thalmann Financial Services, Inc.^*		57		66
Stewart Information Services Corp.		6		63
Lakeland Bancorp, Inc.		6		62
Thomas Properties Group, Inc.^*		18		60
MainSource Financial Group, Inc.		6		60
CompuCredit Holdings Corp.^*		9		59
Virginia Commerce Bancorp, Inc.^*		10		57
Pzena Investment Management, Inc. - Class A		8		56
Universal Insurance Holdings, Inc.		10		54
Mission West Properties, Inc.		8		53
Primus Guaranty Ltd.^*		10		51
First South Bancorp, Inc.		10		50
Wilshire Bancorp, Inc.		10		49
Gladstone Investment Corp.		6		47
First BanCorp^*		9		45
Flagstar Bancorp, Inc.^*		29		44
Asset Acceptance Capital Corp.^*		7		38
Green Bankshares, Inc.^*		10		28
National Interstate Corp.		1		21
Rodman & Renshaw Capital Group, Inc.^*		10		21
Doral Financial Corp.^*		10		11
Gerova Financial Group Ltd.^*,††		2		11

Total Financials				157,222

Information Technology - 3.4%
VeriFone Systems, Inc.^*		61		3,352
TIBCO Software, Inc.^*		108		2,943
Riverbed Technology, Inc.^*		76		2,861
Rackspace Hosting, Inc.^*		62		2,657
Acme Packet, Inc.^*		32		2,271
MicroStrategy, Inc. - Class A^*		15		2,017
Ariba, Inc.^*		59		2,014
Jack Henry & Associates, Inc.		58		1,966
Concur Technologies, Inc.^*		35		1,941
Aruba Networks, Inc.^*		53		1,794
ADTRAN, Inc.		42		1,783
Parametric Technology Corp.^*		78		1,754
Netlogic Microsystems, Inc.^*		40		1,681
Wright Express Corp.^*		30		1,555
Veeco Instruments, Inc.^*		30		1,525
SuccessFactors, Inc.^*		39		1,525
InterDigital, Inc.		30		1,431
Cavium Networks, Inc.^*		30		1,348
TriQuint Semiconductor, Inc.^*		100		1,291
Progress Software Corp.^*		43		1,251
Taleo Corp. - Class A^*		35		1,248
Fortinet, Inc.^*		28		1,232
Finisar Corp.^*		50		1,230
CACI International, Inc. - Class A^*		20		1,226
CommVault Systems, Inc.^*		30		1,196
Anixter International, Inc.		17		1,188
Loral Space & Communications, Inc.^*		15		1,163
IPG Photonics Corp.^*		20		1,154
GSI Commerce, Inc.^*		39		1,142
Cymer, Inc.^*		20		1,132
RF Micro Devices, Inc.^*		176		1,128
Hittite Microwave Corp.^*		17		1,084
OpenTable, Inc.^*		10		1,063
JDA Software Group, Inc.^*		35		1,059
Ultimate Software Group, Inc.^*		18		1,058
Plexus Corp.^*		30		1,052
Cirrus Logic, Inc.^*		50		1,051
Cabot Microelectronics Corp.^*		20		1,045
Lawson Software, Inc.^*		86		1,041
Microsemi Corp.^*		50		1,035
Plantronics, Inc.		28		1,025
Arris Group, Inc.^*		79		1,006
Semtech Corp.^*		40		1,001


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Information Technology - 3.4% (continued)
Universal Display Corp.^*		18	$	991
Quest Software, Inc.^*		39		990
Digital River, Inc.^*		26		973
Mentor Graphics Corp.^*		66		966
Fair Isaac Corp.		30		948
Unisys Corp.^*		30		937
MKS Instruments, Inc.		28		932
Coherent, Inc.^*		16		930
Omnivision Technologies, Inc.^*		26		924
TTM Technologies, Inc.^*		49		890
Viasat, Inc.^*		22		876
Constant Contact, Inc.^*		25		872
Cognex Corp.		30		847
Blue Coat Systems, Inc.^*		30		845
j2 Global Communications, Inc.^*		28		826
Rofin-Sinar Technologies, Inc.^*		20		790
Blackbaud, Inc.		29		790
Integrated Device Technology, Inc.^*		107		789
ACI Worldwide, Inc.^*		24		787
Sapient Corp.^*		68		779
Entegris, Inc.^*		88		772
Take-Two Interactive Software, Inc.^*		50		768
SRA International, Inc. - Class A^*		27		766
Terremark Worldwide, Inc.^*		40		760
Scansource, Inc.^*		20		760
Benchmark Electronics, Inc.^*		40		759
MAXIMUS, Inc.		9		731
SAVVIS, Inc.^*		19		705
STEC, Inc.^*		35		703
ValueClick, Inc.^*		48		694
Power Integrations, Inc.		18		690
Websense, Inc.^*		30		689
FEI Co.^*		20		674
TiVo, Inc.^*		76		666
DealerTrack Holdings, Inc.^*		27		620
Diodes, Inc.^*		18		613
Checkpoint Systems, Inc.^*		27		607
Ebix, Inc.^*		25		591
Netgear, Inc.^*		18		584
DG FastChannel, Inc.^*		18		580
Blackboard, Inc.^*		16		580
L-1 Identity Solutions, Inc. - Class 1^*		49		577
Acxiom Corp.^*		40		574
Littelfuse, Inc.		10		571
Aspen Technology, Inc.^*		38		570
Brightpoint, Inc.^*		52		564
Ultratech, Inc.^*		19		559
Sourcefire, Inc.^*		20		550
Brooks Automation, Inc.^*		40		549
Earthlink, Inc.		70		548
Netscout Systems, Inc.^*		20		546
Comtech Telecommunications Corp.		20		544
SolarWinds, Inc.^*		23		540
Harmonic, Inc.^*		57		535
Emulex Corp.^*		50		534
Sanmina-SCI Corp.^*		47		527
Syntel, Inc.		10		522
Euronet Worldwide, Inc.^*		27		522
Sonus Networks, Inc.^*		137		515
Insight Enterprises, Inc.^*		30		511
NIC, Inc.		41		511
Infinera Corp.^*		57		478
Tessera Technologies, Inc.^*		26		475
Tyler Technologies, Inc.^*		20		474
Lattice Semiconductor Corp.^*		80		472
ATMI, Inc.^*		25		472
Amkor Technology, Inc.^*		70		472
Volterra Semiconductor Corp.^*		19		472
DTS, Inc.^*		10		466
Bottomline Technologies, Inc.^*		18		453
Rogers Corp.^*		10		451
Silicon Image, Inc.^*		50		449
Micrel, Inc.		33		445
Electronics for Imaging, Inc.^*		30		441
Kulicke & Soffa Industries, Inc.^*		47		439
Power-One, Inc.^*		50		438
Synaptics, Inc.^*		16		432
Cardtronics, Inc.^*		21		427
Mantech International Corp. - Class A^*		10		424
Mercury Computer Systems, Inc.^*		20		423
LogMeIn, Inc.^*		10		422
Applied Micro Circuits Corp.^*		39		405
Avid Technology, Inc.^*		18		401
Advent Software, Inc.^*		14		401
CSG Systems International, Inc.^*		20		399
VirnetX Holding Corp.		20		398
Cass Information Systems, Inc.		10		393
Powerwave Technologies, Inc.^*		87		392
TeleTech Holdings, Inc.^*		20		388
Forrester Research, Inc.		10		383
Pegasystems, Inc.		10		379
Stratasys, Inc.^*		8		376
OSI Systems, Inc.^*		10		375
United Online, Inc.		58		366
Silicon Graphics International Corp.^*		17		364
iGate Corp.		19		357
Ancestry.com, Inc.^*		10		354
LivePerson, Inc.^*		28		354
Heartland Payment Systems, Inc.		20		351
Hypercom Corp.^*		29		349
Synchronoss Technologies, Inc.^*		10		348
Electro Scientific Industries, Inc.^*		20		347
Oclaro, Inc.^*		30		345
Quantum Corp.^*		137		345
Newport Corp.^*		19		339
Epicor Software Corp.^*		30		332
Entropic Communications, Inc.^*		39		330
SYNNEX Corp.^*		10		327
Manhattan Associates, Inc.^*		10		327
Intermec, Inc.^*		30		324
Radiant Systems, Inc.^*		18		319


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Information Technology - 3.4% (continued)
Ixia^*		20	$	318
Black Box Corp.		9		316
RightNow Technologies, Inc.^*		10		313
MIPS Technologies, Inc. - Class A^*		29		304
Tekelec^*		37		300
comScore, Inc.^*		10		295
Zoran Corp.^*		28		291
NetSuite, Inc.^*		10		291
Accelrys, Inc.^*		36		288
Bel Fuse, Inc. - Class B		13		286
LTX-Credence Corp.^*		31		283
TNS, Inc.^*		18		280
Formfactor, Inc.^*		27		278
Advanced Energy Industries, Inc.^*		17		278
Rubicon Technology, Inc.^*		10		277
Maxwell Technologies, Inc.^*		16		276
ExlService Holdings, Inc.^*		13		275
MTS Systems Corp.		6		273
Opnet Technologies, Inc.		7		273
Measurement Specialties, Inc.^*		8		272
SMART Modular Technologies WWH, Inc.^*		35		272
Interactive Intelligence, Inc.^*		7		271
Photronics, Inc.^*		30		269
Ceva, Inc.^*		10		267
Magma Design Automation, Inc.^*		38		259
Sigma Designs, Inc.^*		20		259
Vocus, Inc.^*		10		259
EPIQ Systems, Inc.		18		258
Super Micro Computer, Inc.^*		16		257
Monolithic Power Systems, Inc.^*		18		255
Ciber, Inc.^*		38		255
ShoreTel, Inc.^*		30		247
Standard Microsystems Corp.^*		10		247
Cohu, Inc.		16		246
Sycamore Networks, Inc.		10		244
IXYS Corp.^*		18		242
Methode Electronics, Inc.		20		242
Perficient, Inc.^*		20		240
FARO Technologies, Inc.^*		6		240
Move, Inc.^*		97		232
Limelight Networks, Inc.^*		31		222
VASCO Data Security International, Inc.^*		16		220
Rudolph Technologies, Inc.^*		20		219
Pericom Semiconductor Corp.^*		20		207
Aviat Networks, Inc.^*		40		207
SS&C Technologies Holdings, Inc.^*		10		204
Extreme Networks^*		58		203
Echelon Corp.^*		20		203
Xyratex Ltd.^*		18		201
Imation Corp.^*		18		201
Multi-Fineline Electronix, Inc.^*		7		198
Spectrum Control, Inc.^*		10		197
Saba Software, Inc.^*		20		196
Oplink Communications, Inc.^*		10		195
CTS Corp.		18		194
Park Electrochemical Corp.		6		193
Daktronics, Inc.		18		193
Kenexa Corp.^*		7		193
Knot, Inc.^*		16		193
Digi International, Inc.^*		18		190
Seachange International, Inc.^*		20		190
UTStarcom, Inc.^*		80		188
Virtusa Corp.^*		10		187
Smith Micro Software, Inc.^*		20		187
S1 Corp.^*		28		187
Spansion, Inc. - Class A^*		10		187
Keynote Systems, Inc.		10		185
Integrated Silicon Solution, Inc.^*		20		185
Internap Network Services Corp.^*		28		184
Kopin Corp.^*		40		184
QuinStreet, Inc.^*		8		182
Pulse Electronics Corp.		30		181
Axcelis Technologies, Inc.^*		68		180
Liquidity Services, Inc.^*		10		179
RealNetworks, Inc.^*		48		179
Supertex, Inc.^*		8		178
Renaissance Learning, Inc.		15		176
THQ, Inc.^*		38		173
Infospace, Inc.^*		20		173
Radisys Corp.^*		20		173
Electro Rent Corp.		10		172
Symmetricom, Inc.^*		28		172
Anadigics, Inc.^*		38		170
Mindspeed Technologies, Inc.^*		20		169
Gerber Scientific, Inc.^*		18		168
ModusLink Global Solutions, Inc.		30		164
MoneyGram International, Inc.^*		47		161
Actuate Corp.^*		30		156
support.com, Inc.^*		30		156
DSP Group, Inc.^*		20		154
Zix Corp.^*		40		147
Wave Systems Corp. - Class A^*		47		147
PROS Holdings, Inc.^*		10		146
Nanometrics, Inc.^*		8		145
AXT, Inc.^*		20		143
LoopNet, Inc.^*		10		142
Stamps.com, Inc.		10		134
FSI International, Inc.^*		30		131
Echo Global Logistics, Inc.^*		10		131
Immersion Corp.^*		17		130
Lionbridge Technologies, Inc.^*		36		123
Globecomm Systems, Inc.^*		10		123
Dice Holdings, Inc.^*		8		121
Anaren, Inc.^*		6		121
Computer Task Group, Inc.^*		9		120
TeleNav, Inc.^*		10		119
DemandTec, Inc.^*		9		118
EMS Technologies, Inc.^*		6		118
Zygo Corp.^*		8		117
Cray, Inc.^*		18		116
TechTarget, Inc.^*		13		116
TeleCommunication Systems, Inc. - Class A^*		28		115
Conexant Systems, Inc.^*		48		114


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Information Technology - 3.4% (continued)
MoSys, Inc.^*		19	$	114
Advanced Analogic Technologies, Inc.^*		30		113
Rimage Corp.		7		113
Intevac, Inc.^*		9		112
X-Rite, Inc.^*		23		109
Novatel Wireless, Inc.^*		20		109
Exar Corp.^*		18		108
KIT Digital, Inc.^*		9		108
Openwave Systems, Inc.^*		50		107
KVH Industries, Inc.^*		7		106
DDi Corp.		10		106
Rosetta Stone, Inc.^*		8		106
Ultra Clean Holdings^*		10		103
Global Cash Access Holdings, Inc.^*		29		95
Online Resources Corp.^*		25		95
Richardson Electronics Ltd.		7		92
FalconStor Software, Inc.^*		20		91
GSI Technology, Inc.^*		10		91
BigBand Networks, Inc.^*		35		89
Monotype Imaging Holdings, Inc.^*		6		87
SRS Labs, Inc.^*		10		85
Mattson Technology, Inc.^*		35		85
Integral Systems, Inc.^*		7		85
Comverge, Inc.^*		18		84
Guidance Software, Inc.^*		10		84
Marchex, Inc. - Class A		10		79
Opnext, Inc.^*		32		78
Hackett Group, Inc.^*		20		77
PC-Telephone, Inc.^*		10		77
Network Equipment Technologies, Inc.^*		20		75
PLX Technology, Inc.^*		20		73
Deltek, Inc.^*		9		68
PDF Solutions, Inc.^*		10		66
PC Connection, Inc.^*		7		62
Hutchinson Technology, Inc.^*		20		56
CDC Corp. - Class A^*		22		56
Trident Microsystems, Inc.^*		48		55
Tier Technologies, Inc. - Class B^*		10		55
Agilysys, Inc.^*		9		52
American Software, Inc. - Class A		7		52
QAD, Inc. - Class A^*		4		43
Presstek, Inc.^*		20		42
Calix, Inc.^*		2		41
Local.com Corp.^*		10		39
Network Engines, Inc.^*		18		37
Evergreen Solar, Inc.^*		22		30
Ikanos Communications, Inc.^*		20		23
QAD, Inc. - Class B^*		1		10

Total Information Technology				154,072

Industrials - 2.9%
Nordson Corp.		18		2,071
Clean Harbors, Inc.^*		20		1,973
Esterline Technologies Corp.^*		25		1,768
Acuity Brands, Inc.		28		1,638
GrafTech International Ltd.^*		77		1,589
Dollar Thrifty Automotive Group, Inc.^*		23		1,535
Genesee & Wyoming, Inc. - Class A^*		26		1,513
United Stationers, Inc.		20		1,421
Atlas Air Worldwide Holdings, Inc.^*		20		1,394
Watsco, Inc.		20		1,394
Moog, Inc. - Class A^*		30		1,377
United Rentals, Inc.^*		40		1,331
EnerSys^*		33		1,312
Alaska Air Group, Inc.^*		20		1,268
Woodward, Inc.		36		1,244
EMCOR Group, Inc.^*		40		1,239
Avis Budget Group, Inc.^*		68		1,218
CLARCOR, Inc.		27		1,213
Actuant Corp. - Class A		40		1,160
JetBlue Airways Corp.^*		180		1,129
Hexcel Corp.^*		57		1,122
Brady Corp. - Class A		30		1,071
HEICO Corp.		17		1,063
Tetra Tech, Inc.^*		43		1,062
Rollins, Inc.		52		1,056
Curtiss-Wright Corp.		30		1,054
Belden, Inc.		28		1,051
Teledyne Technologies, Inc.^*		20		1,034
Geo Group, Inc.^*		40		1,026
Meritor, Inc.^*		60		1,018
Herman Miller, Inc.		37		1,017
Applied Industrial Technologies, Inc.		30		998
Brink’s Co.		30		993
Chart Industries, Inc.^*		18		991
Old Dominion Freight Line, Inc.^*		27		947
HNI Corp.		30		947
US Airways Group, Inc.^*		107		932
Franklin Electric Company, Inc.		20		924
American Science & Engineering, Inc.		10		924
Robbins & Myers, Inc.		20		920
II-VI, Inc.^*		18		895
AO Smith Corp.		20		887
Triumph Group, Inc.		10		885
ABM Industries, Inc.		33		838
Ladish Company, Inc.^*		15		820
Ceradyne, Inc.^*		18		811
Corporate Executive Board Co.		20		807
AAR Corp.^*		29		804
Simpson Manufacturing Company, Inc.		27		795
Werner Enterprises, Inc.		30		794
Lindsay Corp.		10		790
Kaydon Corp.		20		784
Middleby Corp.^*		8		746
Healthcare Services Group, Inc.		42		738
Mine Safety Appliances Co.		20		733
ESCO Technologies, Inc.		19		725
HUB Group, Inc. - Class A^*		20		724


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Industrials - 2.9% (continued)
Insituform Technologies, Inc. - Class A^*		27	$	722
American Superconductor Corp.^*		29		721
Orbital Sciences Corp.^*		38		719
MasTec, Inc.^*		34		707
CIRCOR International, Inc.		15		705
Ameron International Corp.		10		698
Mueller Industries, Inc.		19		696
Knight Transportation, Inc.		36		693
Deluxe Corp.		26		690
Watts Water Technologies, Inc. - Class A		18		687
SYKES Enterprises, Inc.^*		34		672
Kaman Corp.		19		669
Cascade Corp.		15		669
Korn^*		30		668
Sauer-Danfoss, Inc.^*		13		662
Skywest, Inc.		38		643
AirTran Holdings, Inc.^*		86		641
Briggs & Stratton Corp.		28		634
Barnes Group, Inc.		30		626
Acacia Research - Acacia Technologies^*		18		616
Beacon Roofing Supply, Inc.^*		30		614
Forward Air Corp.		20		613
GeoEye, Inc.^*		14		582
Amerco, Inc.^*		6		582
Resources Connection, Inc.		30		582
Cubic Corp.		10		575
Steelcase, Inc. - Class A		50		569
Knoll, Inc.		27		566
CoStar Group, Inc.^*		9		564
Granite Construction, Inc.		20		562
Interface, Inc. - Class A		30		555
Badger Meter, Inc.		13		536
DigitalGlobe, Inc.^*		19		533
Unifirst Corp.		10		530
Heartland Express, Inc.		30		527
Arkansas Best Corp.		20		518
McGrath Rentcorp		19		518
TrueBlue, Inc.^*		30		504
Albany International Corp. - Class A		20		498
Consolidated Graphics, Inc.^*		9		492
Tutor Perini Corp.		20		487
Dycom Industries, Inc.^*		28		486
3D Systems Corp.^*		10		485
Titan International, Inc.		18		479
Altra Holdings, Inc.^*		20		472
AZZ, Inc.		10		456
Exponent, Inc.^*		10		446
Wabash National Corp.^*		38		440
Allegiant Travel Co. - Class A		10		438
Mueller Water Products, Inc. - Class A		97		435
LB Foster Co. - Class A		10		431
Sun Hydraulics Corp.		10		431
Raven Industries, Inc.		7		430
Trex Company, Inc.^*		13		424
SFN Group, Inc.^*		30		423
RSC Holdings, Inc.^*		29		417
Blount International, Inc.^*		26		415
Ampco-Pittsburgh Corp.		15		414
Colfax Corp.^*		18		413
Kelly Services, Inc. - Class A^*		19		412
Advisory Board Co.^*		8		412
Mobile Mini, Inc.^*		17		408
Interline Brands, Inc.^*		20		408
GT Solar International, Inc.^*		38		405
Powell Industries, Inc.^*		10		394
Team, Inc.^*		15		394
Gorman-Rupp Co.		10		394
Quanex Building Products Corp.		20		393
Tredegar Corp.		18		388
John Bean Technologies Corp.		20		385
RBC Bearings, Inc.^*		10		382
ACCO Brands Corp.^*		40		382
Griffon Corp.^*		29		381
Standex International Corp.		10		379
Textainer Group Holdings Ltd.		10		372
EnergySolutions, Inc.		62		370
TAL International Group, Inc.		10		363
Ducommun, Inc.		15		358
Rush Enterprises, Inc. - Class A^*		18		356
Polypore International, Inc.^*		6		345
Layne Christensen Co.^*		10		345
RailAmerica, Inc.^*		20		341
Ennis, Inc.		20		341
Air Transport Services Group, Inc.^*		40		338
Aircastle Ltd.		28		338
CAI International, Inc.^*		13		336
Astec Industries, Inc.^*		9		336
H&E Equipment Services, Inc.^*		17		332
FreightCar America, Inc.		10		325
Commercial Vehicle Group, Inc.^*		18		321
Great Lakes Dredge & Dock Corp.		42		320
American Woodmark Corp.		15		313
Kforce, Inc.^*		17		311
Viad Corp.		13		311
Satcon Technology Corp.^*		80		309
G&K Services, Inc. - Class A		9		299
A123 Systems, Inc.^*		47		298
Capstone Turbine Corp.^*		164		297
Michael Baker Corp.^*		10		291
EnPro Industries, Inc.^*		8		291
Navigant Consulting, Inc.^*		29		290
CRA International, Inc.^*		10		288
ICF International, Inc.^*		14		288
Aerovironment, Inc.^*		8		280
Dynamic Materials Corp.		10		279
GenCorp, Inc.^*		45		269
EnerNOC, Inc.^*		14		268
Federal Signal Corp.		41		267
AAON, Inc.		8		263
Multi-Color Corp.		13		263
Kadant, Inc.^*		10		262


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Industrials - 2.9% (continued)
Cenveo, Inc.^*		40	$	261
Twin Disc, Inc.		8		258
Universal Forest Products, Inc.		7		257
Greenbrier Companies, Inc.^*		9		255
Titan Machinery, Inc.^*		10		252
Tennant Co.		6		252
Astronics Corp.^*		10		252
M&F Worldwide Corp.^*		10		251
Heidrick & Struggles International, Inc.		9		250
Huron Consulting Group, Inc.^*		9		249
Encore Wire Corp.		10		243
MYR Group, Inc.^*		10		239
Comfort Systems USA, Inc.		17		239
Force Protection, Inc.^*		48		235
Standard Parking Corp.^*		13		231
DXP Enterprises, Inc.^*		10		231
Northwest Pipe Co.^*		10		229
Apogee Enterprises, Inc.		17		224
Orion Marine Group, Inc.^*		20		215
Gibraltar Industries, Inc.^*		18		215
Park-Ohio Holdings Corp.^*		10		207
Generac Holdings, Inc.^*		10		203
LMI Aerospace, Inc.^*		10		202
Marten Transport Ltd.		9		201
American Reprographics Co.^*		19		197
CBIZ, Inc.^*		27		195
Schawk, Inc. - Class A		10		194
Dolan Co.^*		16		194
On Assignment, Inc.^*		20		189
Insperity, Inc.		6		182
LaBarge, Inc.^*		10		177
American Railcar Industries, Inc.^*		7		175
US Ecology, Inc.		10		174
Genco Shipping & Trading Ltd.^*		16		172
Mistras Group, Inc.^*		10		172
Trimas Corp.^*		8		172
Sterling Construction Company, Inc.^*		10		169
Graham Corp.		7		168
Columbus McKinnon Corp.^*		9		166
Vicor Corp.		10		165
Miller Industries, Inc.		10		162
Barrett Business Services, Inc.		10		161
Hawaiian Holdings, Inc.^*		26		156
Taser International, Inc.^*		38		155
Primoris Services Corp.		15		152
Furmanite Corp.^*		19		152
APAC Customer Services, Inc.^*		25		150
Roadrunner Transportation Systems, Inc.^*		10		150
Eagle Bulk Shipping, Inc.^*		40		149
CDI Corp.		10		148
Innerworkings, Inc.^*		20		148
School Specialty, Inc.^*		10		143
Douglas Dynamics, Inc.		10		143
Kratos Defense & Security Solutions, Inc.^*		10		142
Kimball International, Inc. - Class B		20		140
Metalico, Inc.^*		22		137
GP Strategies Corp.^*		10		136
Aceto Corp.		17		135
Ener1, Inc.^*		45		133
Hill International, Inc.^*		25		132
Houston Wire & Cable Co.		9		132
Hudson Highland Group, Inc.^*		20		130
USA Truck, Inc.^*		10		130
Casella Waste Systems, Inc. - Class A^*		18		129
Republic Airways Holdings, Inc.^*		20		129
FuelCell Energy, Inc.^*		60		128
PMFG, Inc.^*		6		128
Insteel Industries, Inc.		9		127
NCI Building Systems, Inc.^*		10		127
Flow International Corp.^*		27		119
Quality Distribution, Inc.^*		10		119
Excel Maritime Carriers Ltd. - Class A^*		27		116
Courier Corp.		8		112
Tecumseh Products Co. - Class A^*		10		100
Saia, Inc.^*		6		98
Celadon Group, Inc.^*		6		97
Pike Electric Corp.^*		10		95
Baltic Trading Ltd.		10		91
Pacer International, Inc.^*		17		89
Fuel Tech, Inc.^*		10		89
Coleman Cable, Inc.^*		10		89
Franklin Covey Co.^*		10		87
PowerSecure International, Inc.^*		10		86
Argan, Inc.^*		10		86
Builders FirstSource, Inc.^*		30		85
Energy Recovery, Inc.^*		26		83
Broadwind Energy, Inc.^*		58		76
Microvision, Inc.^*		57		75
Advanced Battery Technologies, Inc.^*		37		72
Met-Pro Corp.		6		71
Lydall, Inc.^*		8		71
Energy Conversion Devices, Inc.^*		30		68
LSI Industries, Inc.		9		65
UQM Technologies, Inc.^*		18		54
Pinnacle Airlines Corp.^*		9		52
Ultrapetrol Bahamas Ltd.^*		8		41
BlueLinx Holdings, Inc.^*		10		37
Standard Register Co.		10		33
Applied Energetics, Inc.^*		48		32
PGT, Inc.^*		9		21
Hoku Corp.^*		8		16
Horizon Lines, Inc. - Class A		17		14
LECG Corp.^*		20		4

Total Industrials				128,023

Consumer Discretionary - 2.4%
Deckers Outdoor Corp.^*		30		2,584
Sotheby’s		37		1,946
Polaris Industries, Inc.		20		1,740


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Consumer Discretionary - 2.4% (continued)
Tenneco, Inc.^*		40	$	1,698
Warnaco Group, Inc.^*		29		1,659
Dana Holding Corp.^*		87		1,513
Brunswick Corp.		58		1,475
Rent-A-Center, Inc. - Class A		40		1,396
Shutterfly, Inc.^*		25		1,309
Ascena Retail Group, Inc.^*		40		1,296
Timberland Co. - Class A^*		30		1,239
Under Armour, Inc. - Class A^*		18		1,225
Cheesecake Factory, Inc.^*		40		1,204
Dillard’s, Inc. - Class A		30		1,204
Jos A. Bank Clothiers, Inc.^*		23		1,170
Iconix Brand Group, Inc.^*		54		1,160
CROCS, Inc.^*		65		1,160
Cooper Tire & Rubber Co.		45		1,159
Carter’s, Inc.^*		40		1,145
Life Time Fitness, Inc.^*		30		1,119
Wolverine World Wide, Inc.		30		1,118
ANN, Inc.^*		38		1,106
Saks, Inc.^*		90		1,018
Vail Resorts, Inc.^*		20		975
Ulta Salon Cosmetics & Fragrance, Inc.^*		20		963
HSN, Inc.^*		30		961
Steven Madden Ltd.^*		20		939
Cracker Barrel Old Country Store, Inc.		19		934
PF Chang’s China Bistro, Inc.		20		924
Live Nation Entertainment, Inc.^*		87		870
Jack in the Box, Inc.^*		38		862
Cinemark Holdings, Inc.		43		832
Coinstar, Inc.^*		18		827
Collective Brands, Inc.^*		38		820
Sally Beauty Holdings, Inc.^*		58		813
Buckle, Inc.		20		808
Genesco, Inc.^*		20		804
Arbitron, Inc.		20		801
Childrens Place Retail Stores, Inc.^*		16		797
Valassis Communications, Inc.^*		27		787
Jones Group, Inc.		57		784
Matthews International Corp. - Class A		20		771
Group 1 Automotive, Inc.		18		770
Men’s Wearhouse, Inc.		28		758
Orient-Express Hotels Ltd. - Class A^*		61		755
OfficeMax, Inc.^*		58		751
Helen of Troy Ltd.^*		25		735
Pool Corp.		30		723
Hibbett Sports, Inc.^*		20		716
Steiner Leisure Ltd.^*		15		694
Gaylord Entertainment Co.^*		20		694
Pier 1 Imports, Inc.^*		68		690
American Greetings Corp. - Class A		29		684
Cabela’s, Inc.^*		27		675
Regis Corp.		38		674
Bob Evans Farms, Inc.		20		652
Texas Roadhouse, Inc. - Class A		38		646
K12, Inc.^*		18		607
Penske Automotive Group, Inc.^*		30		601
Eastman Kodak Co.^*		185		598
Finish Line, Inc. - Class A		30		595
Columbia Sportswear Co.		10		594
99 Cents Only Stores^*		30		588
National CineMedia, Inc.		30		560
DineEquity, Inc.^*		10		550
Pinnacle Entertainment, Inc.^*		40		545
Scholastic Corp.		20		541
Ruby Tuesday, Inc.^*		40		524
Stage Stores, Inc.		27		519
American Axle & Manufacturing Holdings, Inc.^*		41		516
Exide Technologies^*		46		514
Superior Industries International, Inc.		20		513
Belo Corp. - Class A^*		57		502
Capella Education Co.^*		10		498
Core-Mark Holding Company, Inc.^*		15		496
Cato Corp. - Class A		20		490
Buffalo Wild Wings, Inc.^*		9		490
Ascent Media Corp. - Class A^*		10		488
Meritage Homes Corp.^*		20		483
Select Comfort Corp.^*		40		482
Peet’s Coffee & Tea, Inc.^*		10		481
Ryland Group, Inc.		30		477
Interval Leisure Group, Inc.^*		28		458
Fred’s, Inc. - Class A		34		453
PEP Boys-Manny Moe & Jack		34		432
Shuffle Master, Inc.^*		40		427
True Religion Apparel, Inc.^*		18		422
Sonic Automotive, Inc. - Class A		30		420
Modine Manufacturing Co.^*		26		420
American Public Education, Inc.^*		10		404
Monro Muffler Brake, Inc.		12		396
Ethan Allen Interiors, Inc.		18		394
BJ’s Restaurants, Inc.^*		10		393
Jakks Pacific, Inc.^*		20		387
Blue Nile, Inc.^*		7		378
Sinclair Broadcast Group, Inc. - Class A		30		376
G-III Apparel Group Ltd.^*		10		376
Quiksilver, Inc.^*		85		376
Asbury Automotive Group, Inc.^*		20		370
Domino’s Pizza, Inc.^*		20		369
Stewart Enterprises, Inc. - Class A		48		367
Sonic Corp.^*		40		362
DSW, Inc. - Class A^*		9		360
Harte-Hanks, Inc.		30		357
Skechers U.S.A., Inc. - Class A^*		17		349
Boyd Gaming Corp.^*		37		347
Retail Ventures, Inc.^*		20		345
Brown Shoe Company, Inc.		28		342
Oxford Industries, Inc.		10		342
CEC Entertainment, Inc.		9		340
Vitamin Shoppe, Inc.^*		10		338


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Consumer Discretionary - 2.4% (continued)
Ameristar Casinos, Inc.		19	$	337
Charming Shoppes, Inc.^*		78		332
Scientific Games Corp. - Class A^*		37		323
Talbots, Inc.^*		52		314
Liz Claiborne, Inc.^*		57		307
Fuel Systems Solutions, Inc.^*		10		302
Dorman Products, Inc.^*		7		295
Wet Seal, Inc. - Class A^*		68		291
Global Sources Ltd.^*		25		291
Churchill Downs, Inc.		7		290
Rue21, Inc.^*		10		288
La-Z-Boy, Inc. - Class Z^*		30		286
RC2 Corp.^*		10		281
Shoe Carnival, Inc.^*		10		280
Grand Canyon Education, Inc.^*		19		275
Perry Ellis International, Inc.^*		10		275
Callaway Golf Co.		40		273
AFC Enterprises, Inc.^*		18		272
PetMed Express, Inc.		17		270
Rentrak Corp.^*		10		269
Red Robin Gourmet Burgers, Inc.^*		10		269
Barnes & Noble, Inc.		29		267
iRobot Corp.^*		8		263
NutriSystem, Inc.		18		261
Corinthian Colleges, Inc.^*		59		261
Krispy Kreme Doughnuts, Inc.^*		37		260
Knology, Inc.^*		20		258
America’s Car-Mart, Inc.^*		10		258
Maidenform Brands, Inc.^*		9		257
Standard Pacific Corp.^*		68		254
World Wrestling Entertainment, Inc. - Class A		20		251
Beazer Homes USA, Inc.^*		54		247
Winnebago Industries, Inc.^*		18		241
Lincoln Educational Services Corp.		15		238
Lions Gate Entertainment Corp.^*		38		237
Universal Electronics, Inc.^*		8		236
Overstock.com, Inc.^*		15		236
Denny’s Corp.^*		57		231
Winmark Corp.		5		231
Drew Industries, Inc.		10		223
Drugstore.com, Inc.^*		58		223
Citi Trends, Inc.^*		10		223
Papa John’s International, Inc.^*		7		222
Unifi, Inc.^*		13		221
Entercom Communications Corp. - Class A^*		20		220
Zumiez, Inc.^*		8		211
Sturm Ruger & Company, Inc.		9		207
Stein Mart, Inc.		20		202
EW Scripps Co. - Class A^*		20		198
Express, Inc.		10		195
Universal Technical Institute, Inc.		10		194
K-Swiss, Inc. - Class A^*		17		192
Warner Music Group Corp.^*		28		190
Journal Communications, Inc. - Class A^*		30		180
Cherokee, Inc.		10		173
Bridgepoint Education, Inc.^*		10		171
Dex One Corp.^*		35		169
California Pizza Kitchen, Inc.^*		10		169
Volcom, Inc.		9		167
Libbey, Inc.^*		10		165
Spartan Motors, Inc.		24		165
CKX, Inc.^*		39		165
Mac-Gray Corp.		10		161
Speedway Motorsports, Inc.		10		160
HOT Topic, Inc.		28		160
Arctic Cat, Inc.^*		10		155
Bon-Ton Stores, Inc.		10		155
Kirkland’s, Inc.^*		10		154
Amerigon, Inc.^*		10		153
Lifetime Brands, Inc.		10		150
Lumber Liquidators Holdings, Inc.^*		6		150
Casual Male Retail Group, Inc.^*		30		147
Bebe Stores, Inc.		25		146
Lithia Motors, Inc. - Class A		10		146
Smith & Wesson Holding Corp.^*		40		142
Carrols Restaurant Group, Inc.^*		15		139
Standard Motor Products, Inc.		10		138
McClatchy Co. - Class A^*		40		136
hhgregg, Inc.^*		10		134
RG Barry Corp.		10		131
Pacific Sunwear of California, Inc.^*		36		130
Christopher & Banks Corp.		20		130
Furniture Brands International, Inc.^*		28		127
New York & Company, Inc.^*		18		126
M/I Homes, Inc.^*		8		120
Big 5 Sporting Goods Corp.		10		119
Ruth’s Hospitality Group, Inc.^*		23		119
Coldwater Creek, Inc.^*		44		116
Multimedia Games, Inc.^*		20		115
Ambassadors Group, Inc.		10		109
LIN TV Corp. - Class A^*		18		107
Hovnanian Enterprises, Inc. - Class A^*		30		106
Monarch Casino & Resort, Inc.^*		10		104
Leapfrog Enterprises, Inc. - Class A^*		24		104
Movado Group, Inc.^*		7		103
Skyline Corp.		5		100
Midas, Inc.^*		13		100
MarineMax, Inc.^*		10		99
Marcus Corp.		9		98
Tuesday Morning Corp.^*		20		98
Morgans Hotel Group Co.^*		10		98
Hooker Furniture Corp.		8		96
Systemax, Inc.^*		7		95
Haverty Furniture Companies, Inc.		7		93
Culp, Inc.^*		10		93
Stoneridge, Inc.^*		6		88
US Auto Parts Network, Inc.^*		10		87
Nexstar Broadcasting Group, Inc. - Class A^*		10		87
Archipelago Learning, Inc.^*		10		85


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Consumer Discretionary - 2.4% (continued)
Brookfield Homes Corp.^*		9	$	85
AH Belo Corp. - Class A^*		10		84
West Marine, Inc.^*		8		83
Red Lion Hotels Corp.^*		10		82
Jamba, Inc.^*		37		81
Audiovox Corp. - Class A^*		10		80
Marine Products Corp.^*		10		79
Sealy Corp.^*		30		76
Entravision Communications Corp. - Class A^*		28		76
Lee Enterprises, Inc.^*		28		76
Outdoor Channel Holdings, Inc.		10		75
Martha Stewart Living Omnimedia - Class A^*		20		74
Kid Brands, Inc.^*		10		73
LodgeNet Interactive Corp.^*		20		73
McCormick & Schmick’s Seafood Restaurants, Inc.^*		10		72
Ballantyne Strong, Inc.^*		10		72
Carmike Cinemas, Inc.^*		10		71
National American University Holdings, Inc.		10		71
Media General, Inc. - Class A^*		10		69
Gaiam, Inc. - Class A		10		66
Summer Infant, Inc.^*		8		64
SuperMedia, Inc.^*		10		62
O’Charleys, Inc.^*		10		60
Gray Television, Inc.^*		28		58
Isle of Capri Casinos, Inc.^*		6		57
1-800-Flowers.com, Inc. - Class A^*		17		56
PRIMEDIA, Inc.		10		49
Crown Media Holdings, Inc. - Class A^*		20		46
Cumulus Media, Inc. - Class A^*		10		43
Build-A-Bear Workshop, Inc. - Class A^*		7		42
Bluegreen Corp.^*		10		41
Radio One, Inc. - Class D^*		20		39
Conn’s, Inc.^*		8		36
Cambium Learning Group, Inc.^*		10		34
Orbitz Worldwide, Inc.^*		9		32
Joe’s Jeans, Inc.^*		27		29
American Apparel, Inc.^*		20		19
Empire Resorts, Inc.^*		20		12
Princeton Review, Inc.^*		18		7
Vitacost.com, Inc.^{*,†††,1}		10		5

Total Consumer Discretionary				105,954

Health Care - 2.2%
Pharmasset, Inc.^*		24		1,889
AMERIGROUP Corp.^*		28		1,799
Healthspring, Inc.^*		41		1,532
Healthsouth Corp.^*		59		1,474
HMS Holdings Corp.^*		18		1,473
Salix Pharmaceuticals Ltd.^*		40		1,401
Onyx Pharmaceuticals, Inc.^*		38		1,337
STERIS Corp.		38		1,313
WellCare Health Plans, Inc.^*		30		1,258
Owens & Minor, Inc.		38		1,234
InterMune, Inc.^*		26		1,227
Medicis Pharmaceutical Corp. - Class A		38		1,218
Haemonetics Corp.^*		18		1,180
Catalyst Health Solutions, Inc.^*		20		1,119
Parexel International Corp.^*		44		1,096
PSS World Medical, Inc.^*		40		1,086
American Medical Systems Holdings, Inc.^*		50		1,082
Cepheid, Inc.^*		38		1,065
Dionex Corp.^*		9		1,062
Viropharma, Inc.^*		50		995
Masimo Corp.		30		993
Centene Corp.^*		30		989
Immucor, Inc.^*		50		989
Magellan Health Services, Inc.^*		20		982
Impax Laboratories, Inc.^*		38		967
Bruker Corp.^*		46		959
Sirona Dental Systems, Inc.^*		19		953
Cubist Pharmaceuticals, Inc.^*		37		934
Theravance, Inc.^*		38		920
Incyte Corporation Ltd.^*		57		903
HeartWare International, Inc.^*		10		855
Quality Systems, Inc.		10		833
athenahealth, Inc.^*		18		812
MWI Veterinary Supply, Inc.^*		10		807
Exelixis, Inc.^*		70		791
Align Technology, Inc.^*		38		778
Invacare Corp.		25		778
Alkermes, Inc.^*		59		764
West Pharmaceutical Services, Inc.		17		761
Seattle Genetics, Inc.^*		48		747
Volcano Corp.^*		29		742
NuVasive, Inc.^*		29		734
Meridian Bioscience, Inc.		30		720
Acorda Therapeutics, Inc.^*		30		696
Insulet Corp.^*		33		680
Kindred Healthcare, Inc.^*		28		669
Arthrocare Corp.^*		20		667
Auxilium Pharmaceuticals, Inc.^*		30		644
Cyberonics, Inc.^*		20		636
Amedisys, Inc.^*		18		630
Par Pharmaceutical Companies, Inc.^*		20		622
Chemed Corp.		9		599
RehabCare Group, Inc.^*		16		590
DexCom, Inc.^*		38		590
Questcor Pharmaceuticals, Inc.^*		40		576
Analogic Corp.		10		565
Nektar Therapeutics^*		59		559
Momenta Pharmaceuticals, Inc.^*		35		555
Air Methods Corp.^*		8		538
Greatbatch, Inc.^*		20		529
Sunrise Senior Living, Inc.^*		43		513
Ariad Pharmaceuticals, Inc.^*		68		511
PDL BioPharma, Inc.		88		510
Wright Medical Group, Inc.^*		30		510
Amsurg Corp. - Class A^*		20		509


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Health Care - 2.2% (continued)
Isis Pharmaceuticals, Inc.^*		56	$	506
Targacept, Inc.^*		19		505
Gentiva Health Services, Inc.^*		18		505
Integra LifeSciences Holdings Corp.^*		10		474
CONMED Corp.^*		18		473
Hanger Orthopedic Group, Inc.^*		18		469
Universal American Corp.		20		458
MedAssets, Inc.^*		30		458
Medicines Co.^*		28		456
IPC The Hospitalist Company, Inc.^*		10		454
Computer Programs & Systems, Inc.		7		450
ICU Medical, Inc.^*		10		438
MAKO Surgical Corp.^*		18		436
Bio-Reference Labs, Inc.^*		19		426
Savient Pharmaceuticals, Inc.^*		40		424
Neogen Corp.^*		10		414
Zoll Medical Corp.^*		9		403
Molina Healthcare, Inc.^*		10		400
Medivation, Inc.^*		21		391
Assisted Living Concepts, Inc. - Class A^*		10		391
Celera Corp.^*		48		389
America Service Group, Inc.		15		385
NPS Pharmaceuticals, Inc.^*		40		383
Almost Family, Inc.^*		10		376
NxStage Medical, Inc.^*		17		374
Landauer, Inc.		6		369
Luminex Corp.^*		19		356
Halozyme Therapeutics, Inc.^*		53		356
Merit Medical Systems, Inc.^*		18		353
Enzon Pharmaceuticals, Inc.^*		30		327
Immunogen, Inc.^*		36		327
Sun Healthcare Group, Inc.^*		23		324
Jazz Pharmaceuticals, Inc.^*		10		319
Accuray, Inc.^*		35		316
Sequenom, Inc.^*		49		310
Omnicell, Inc.^*		20		305
Clinical Data, Inc.^*		10		303
Natus Medical, Inc.^*		18		302
LHC Group, Inc.^*		10		300
Vivus, Inc.^*		48		297
AMN Healthcare Services, Inc.^*		34		294
Orthofix International N.V.^*		9		292
ABIOMED, Inc.^*		20		291
Conceptus, Inc.^*		20		289
Abaxis, Inc.^*		10		288
Geron Corp.^*		57		288
Ardea Biosciences, Inc.^*		10		287
Depomed, Inc.^*		28		281
National Healthcare Corp.		6		279
Accretive Health, Inc.^*		10		278
Angiodynamics, Inc.^*		18		272
Micromet, Inc.^*		48		269
SonoSite, Inc.^*		8		267
Cytori Therapeutics, Inc.^*		34		266
Capital Senior Living Corp.^*		25		266
Healthways, Inc.^*		17		261
Syneron Medical Ltd.^*		20		261
Affymetrix, Inc.^*		50		261
Cantel Medical Corp.		10		258
Medidata Solutions, Inc.^*		10		256
Emeritus Corp.^*		10		255
Sangamo Biosciences, Inc.^*		30		250
Spectrum Pharmaceuticals, Inc.^*		28		249
Genomic Health, Inc.^*		10		246
SIGA Technologies, Inc.^*		20		242
Select Medical Holdings Corp.^*		30		242
Transcend Services, Inc.^*		10		240
Optimer Pharmaceuticals, Inc.^*		20		237
OraSure Technologies, Inc.^*		30		236
Ensign Group, Inc.		7		224
US Physical Therapy, Inc.		10		223
Metabolix, Inc.^*		21		221
eResearchTechnology, Inc.^*		32		217
Opko Health, Inc.^*		58		216
AVANIR Pharmaceuticals, Inc. - Class A^*		53		216
Arqule, Inc.^*		30		215
Delcath Systems, Inc.^*		29		214
Akorn, Inc.^*		37		213
Rigel Pharmaceuticals, Inc.^*		30		213
Neurocrine Biosciences, Inc.^*		28		213
Lexicon Pharmaceuticals, Inc.^*		126		212
Durect Corp.^*		58		209
Endologix, Inc.^*		30		203
Hi-Tech Pharmacal Company, Inc.^*		10		201
PharMerica Corp.^*		17		194
Alnylam Pharmaceuticals, Inc.^*		20		191
Caliper Life Sciences, Inc.^*		28		189
ZIOPHARM Oncology, Inc.^*		30		188
Cynosure, Inc. - Class A^*		13		181
Symmetry Medical, Inc.^*		18		176
Exactech, Inc.^*		10		176
Pain Therapeutics, Inc.		18		172
Pharmacyclics, Inc.^*		29		171
Rural/Metro Corp.^*		10		170
Emergent Biosolutions, Inc.^*		7		169
Furiex Pharmaceuticals, Inc.^*		10		169
Novavax, Inc.^*		65		168
AMAG Pharmaceuticals, Inc.^*		10		167
Cadence Pharmaceuticals, Inc.^*		18		166
Nabi Biopharmaceuticals^*		28		163
Five Star Quality Care, Inc.^*		20		163
Curis, Inc.^*		50		163
MannKind Corp.^*		44		161
Chindex International, Inc.^*		10		161
Unilife Corp.^*		28		159
Cross Country Healthcare, Inc.^*		20		157
Allos Therapeutics, Inc.^*		49		155
Merge Healthcare, Inc.^*		31		151
Inspire Pharmaceuticals, Inc.^*		38		150
Keryx Biopharmaceuticals, Inc.^*		30		150
Providence Service Corp.^*		10		150
Immunomedics, Inc.^*		39		149


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Health Care - 2.2% (continued)
Vical, Inc.^*		50	$	148
Vanda Pharmaceuticals, Inc.^*		20		146
Triple-S Management Corp. - Class B^*		7		144
Metropolitan Health Networks, Inc.^*		30		142
BioScrip, Inc.^*		30		141
CryoLife, Inc.^*		23		140
Ironwood Pharmaceuticals, Inc. - Class A^*		10		140
Team Health Holdings, Inc.^*		8		140
MAP Pharmaceuticals, Inc.^*		10		138
Chelsea Therapeutics International Ltd.^*		35		136
Synovis Life Technologies, Inc.^*		7		134
AVEO Pharmaceuticals, Inc.^*		10		134
Palomar Medical Technologies, Inc.^*		9		134
Dynavax Technologies Corp.^*		48		132
Exact Sciences Corp.^*		18		132
American Dental Partners, Inc.^*		10		131
BioMimetic Therapeutics, Inc.^*		10		131
AVI BioPharma, Inc.^*		70		131
Skilled Healthcare Group, Inc. - Class A^*		9		130
Solta Medical, Inc.^*		38		125
SuperGen, Inc.^*		40		124
TomoTherapy, Inc.^*		27		123
Maxygen, Inc.		23		120
Quidel Corp.^*		10		120
XenoPort, Inc.^*		20		119
Progenics Pharmaceuticals, Inc.^*		19		117
Rochester Medical Corp.^*		10		115
Staar Surgical Co.^*		20		111
Ligand Pharmaceuticals, Inc. - Class B^*		11		110
Cambrex Corp.^*		20		110
Vascular Solutions, Inc.^*		10		109
Pozen, Inc.^*		20		107
Continucare Corp.^*		20		107
RTI Biologics, Inc.^*		36		103
Arena Pharmaceuticals, Inc.^*		74		103
Dyax Corp.^*		63		101
Obagi Medical Products, Inc.^*		8		101
Inhibitex, Inc.^*		27		98
CardioNet, Inc.^*		20		96
Santarus, Inc.^*		28		96
Biosante Pharmaceuticals, Inc.^*		48		95
Vital Images, Inc.^*		7		95
Spectranetics Corp.^*		20		94
Zalicus, Inc.^*		38		92
IRIS International, Inc.^*		10		90
Peregrine Pharmaceuticals, Inc.^*		38		90
Alliance HealthCare Services, Inc.^*		20		88
SurModics, Inc.^*		7		87
Antares Pharma, Inc.^*		48		86
Kendle International, Inc.^*		8		86
Albany Molecular Research, Inc.^*		20		85
Orthovita, Inc.^*		40		85
Corcept Therapeutics, Inc.^*		20		85
Sciclone Pharmaceuticals, Inc.^*		21		85
Medical Action Industries, Inc.^*		10		84
Medcath Corp.^*		6		84
Array Biopharma, Inc.^*		27		83
PDI, Inc.^*		10		81
Cerus Corp.^*		28		81
Omeros Corp.^*		10		80
Alphatec Holdings, Inc.^*		29		78
Hansen Medical, Inc.^*		35		77
Allied Healthcare International, Inc.^*		30		76
BioCryst Pharmaceuticals, Inc.^*		20		76
Celldex Therapeutics, Inc.^*		18		72
Nymox Pharmaceutical Corp.^*		9		71
StemCells, Inc.^*		78		71
MELA Sciences, Inc.^*		20		70
Stereotaxis, Inc.^*		18		70
Cutera, Inc.^*		8		69
LCA-Vision, Inc.^*		10		68
Enzo Biochem, Inc.^*		16		67
Cornerstone Therapeutics, Inc.^*		10		66
Idenix Pharmaceuticals, Inc.^*		18		60
CytRx Corp.^*		67		59
Osiris Therapeutics, Inc.^*		8		58
Somaxon Pharmaceuticals, Inc.^*		20		57
Orexigen Therapeutics, Inc.^*		20		56
Lannett Company, Inc.^*		10		56
Cumberland Pharmaceuticals, Inc.^*		10		55
DynaVox, Inc. - Class A^*		10		55
Sucampo Pharmaceuticals, Inc. - Class A^*		13		55
Synta Pharmaceuticals Corp.^*		10		53
Neuralstem, Inc.^*		29		52
Inovio Pharmaceuticals, Inc.^*		47		52
Alexza Pharmaceuticals, Inc.^*		28		48
Codexis, Inc.^*		4		47
Infinity Pharmaceuticals, Inc.^*		8		47
Affymax, Inc.^*		8		47
Caraco Pharmaceutical Laboratories Ltd.^*		9		47
Cytokinetics, Inc.^*		30		45
Biotime, Inc.^*		6		45
Aoxing Pharmaceutical Company, Inc.^*		20		43
Acura Pharmaceuticals, Inc.^*		13		41
NeurogesX, Inc.^*		9		36
PURE Bioscience, Inc.^*		20		31
Neostem, Inc.^*		17		29
Nanosphere, Inc.^*		7		23
AspenBio Pharma, Inc.^*		20		17
Biodel, Inc.^*		7		15

Total Health Care				98,556

Energy - 1.2%
Brigham Exploration Co.^*		80		2,974
Lufkin Industries, Inc.		20		1,869


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Energy - 1.2% (continued)
Complete Production Services, Inc.^*		55	$	1,750
Dril-Quip, Inc.^*		21		1,660
World Fuel Services Corp.		40		1,624
Berry Petroleum Co. - Class A		30		1,513
CARBO Ceramics, Inc.		10		1,411
Patriot Coal Corp.^*		53		1,369
Rosetta Resources, Inc.^*		28		1,331
Key Energy Services, Inc.^*		77		1,197
Bill Barrett Corp.^*		29		1,157
Helix Energy Solutions Group, Inc.^*		67		1,152
ION Geophysical Corp.^*		83		1,053
International Coal Group, Inc.^*		88		994
Energy XXI Bermuda Ltd.^*		27		921
McMoRan Exploration Co.^*		49		868
Stone Energy Corp.^*		26		868
Swift Energy Co.^*		20		854
Bristow Group, Inc.^*		18		851
Apco Oil and Gas International, Inc.		9		772
RPC, Inc.		30		760
Gulfmark Offshore, Inc. - Class A^*		17		757
Tetra Technologies, Inc.^*		48		739
Gulfport Energy Corp.^*		20		723
Northern Oil and Gas, Inc.^*		27		721
Kodiak Oil & Gas Corp.^*		105		703
Nordic American Tanker Shipping		27		671
Global Industries Ltd.^*		68		666
Overseas Shipholding Group, Inc.		20		643
Contango Oil & Gas Co.^*		10		632
Carrizo Oil & Gas, Inc.^*		17		628
Ship Finance International Ltd.		30		622
Hornbeck Offshore Services, Inc.^*		20		617
Pioneer Drilling Co.^*		42		580
Clean Energy Fuels Corp.^*		34		557
Parker Drilling Co.^*		78		539
Basic Energy Services, Inc.^*		20		510
Penn Virginia Corp.		30		509
James River Coal Co.^*		20		483
Petroleum Development Corp.^*		10		480
Western Refining, Inc.^*		28		475
Newpark Resources, Inc.^*		60		472
ATP Oil & Gas Corp.^*		26		471
CVR Energy, Inc.^*		20		463
W&T Offshore, Inc.		20		456
Knightsbridge Tankers Ltd.		18		451
Hercules Offshore, Inc.^*		68		449
Cal Dive International, Inc.^*		64		447
Tesco Corp.^*		20		439
Dawson Geophysical Co.^*		10		439
Cloud Peak Energy, Inc.^*		20		432
Gulf Island Fabrication, Inc.		13		418
Golar LNG Ltd.		16		409
Goodrich Petroleum Corp.^*		18		400
Energy Partners Ltd.^*		20		360
Petroquest Energy, Inc.^*		38		356
Cheniere Energy, Inc.^*		38		354
Crosstex Energy, Inc.		35		348
Resolute Energy Corp.^*		19		345
Approach Resources, Inc.^*		10		336
Willbros Group, Inc.^*		30		328
TransAtlantic Petroleum Ltd.^*		105		326
Georesources, Inc.^*		10		313
BPZ Resources, Inc.^*		58		308
USEC, Inc.^*		67		295
Harvest Natural Resources, Inc.^*		19		290
Matrix Service Co.^*		20		278
Venoco, Inc.^*		15		256
Warren Resources, Inc.^*		50		254
FX Energy, Inc.^*		30		251
Magnum Hunter Resources Corp.^*		28		240
Abraxas Petroleum Corp.^*		40		234
Rex Energy Corp.^*		20		233
Vaalco Energy, Inc.^*		30		233
PHI, Inc.^*		10		221
Teekay Tankers Ltd. - Class A		20		209
Vantage Drilling Co.^*		99		178
Rentech, Inc.^*		136		170
Endeavour International Corp.^*		13		165
Uranium Energy Corp.^*		41		164
Callon Petroleum Co.^*		20		155
Houston American Energy Corp.		10		154
Gastar Exploration Ltd.^*		28		136
Delek US Holdings, Inc.		10		136
DHT Holdings, Inc.		27		130
Natural Gas Services Group, Inc.^*		7		124
Union Drilling, Inc.^*		12		123
Green Plains Renewable Energy, Inc.^*		10		120
Syntroleum Corp.^*		52		118
Delta Petroleum Corp.^*		122		111
GMX Resources, Inc.^*		17		105
Scorpio Tankers, Inc.^*		10		103
General Maritime Corp.		47		96
RAM Energy Resources, Inc.^*		39		81
Evolution Petroleum Corp.^*		10		78
L&L Energy, Inc.^*		10		69
Miller Petroleum, Inc.^*		10		50
CAMAC Energy, Inc.^*		27		40

Total Energy				53,923

Materials - 1.0%
Rock-Tenn Co. - Class A		29		2,011
Coeur d’Alene Mines Corp.^*		57		1,982
Solutia, Inc.^*		77		1,956
WR Grace & Co.^*		48		1,838
Allied Nevada Gold Corp.^*		51		1,809
Hecla Mining Co.^*		166		1,507
Silgan Holdings, Inc.		36		1,373
Rockwood Holdings, Inc.^*		27		1,329
NewMarket Corp.		8		1,266
Olin Corp.		49		1,123
Thompson Creek Metals Company, Inc.^*		86		1,078
Sensient Technologies Corp.		27		968
Buckeye Technologies, Inc.		35		953
Ferro Corp.^*		57		946


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Materials - 1.0% (continued)
Globe Specialty Metals, Inc.		40	$	910
AMCOL International Corp.		25		900
Louisiana-Pacific Corp.^*		80		840
Worthington Industries, Inc.		40		837
PolyOne Corp.		58		824
Stillwater Mining Co.^*		34		780
Georgia Gulf Corp.^*		20		740
OM Group, Inc.^*		20		731
Minerals Technologies, Inc.		10		685
Balchem Corp.		18		675
Century Aluminum Co.^*		36		673
Deltic Timber Corp.		10		668
Clearwater Paper Corp.^*		8		651
HB Fuller Co.		30		644
Calgon Carbon Corp.^*		40		635
RTI International Metals, Inc.^*		20		623
Innophos Holdings, Inc.		13		599
Westlake Chemical Corp.		10		562
Koppers Holdings, Inc.		13		555
US Gold Corp.^*		61		539
Golden Star Resources Ltd.^*		173		514
Stepan Co.		7		508
Schweitzer-Mauduit International, Inc.		10		506
Kaiser Aluminum Corp.		10		493
Horsehead Holding Corp.^*		28		477
Boise, Inc.		51		467
A. Schulman, Inc.		18		445
KapStone Paper and Packaging Corp.^*		25		429
Arch Chemicals, Inc.		10		416
Hawkins, Inc.		10		411
Texas Industries, Inc.		9		407
Haynes International, Inc.		7		388
STR Holdings, Inc.^*		20		384
Graphic Packaging Holding Co.^*		70		379
PH Glatfelter Co.		26		346
Neenah Paper, Inc.		15		330
Quaker Chemical Corp.		8		321
LSB Industries, Inc.^*		8		317
Kraton Performance Polymers, Inc.^*		8		306
TPC Group, Inc.^*		10		289
Olympic Steel, Inc.		8		263
Jaguar Mining, Inc.^*		47		245
Materion Corp.^*		6		245
Capital Gold Corp.^*		38		244
Omnova Solutions, Inc.^*		30		236
Zoltek Companies, Inc.^*		16		215
Headwaters, Inc.^*		36		212
General Moly, Inc.^*		38		204
United States Lime & Minerals, Inc.^*		5		203
Wausau Paper Corp.		26		199
Myers Industries, Inc.		20		199
AM Castle & Co.^*		10		189
Senomyx, Inc.^*		29		175
Graham Packaging Company, Inc.^*		10		174
Metals USA Holdings Corp.^*		10		164
Noranda Aluminum Holding Corp.^*		10		161
Spartech Corp.^*		20		145
US Energy Corp.^*		20		125
Zep, Inc.		6		104
Landec Corp.^*		16		104
American Vanguard Corp.		10		87
Verso Paper Corp.^*		10		54

Total Materials				46,290

Utilities - 0.6%
Nicor, Inc.		29		1,557
Piedmont Natural Gas Company, Inc.		50		1,517
WGL Holdings, Inc.		34		1,326
Cleco Corp.		38		1,303
New Jersey Resources Corp.		30		1,289
Southwest Gas Corp.		30		1,169
Portland General Electric Co.		49		1,165
IDACORP, Inc.		28		1,067
South Jersey Industries, Inc.		17		951
Avista Corp.		40		925
Northwest Natural Gas Co.		20		923
UIL Holdings Corp.		30		916
Unisource Energy Corp.		25		903
Black Hills Corp.		27		903
PNM Resources, Inc.		58		865
El Paso Electric Co.^*		27		821
MGE Energy, Inc.		20		810
Allete, Inc.		19		740
NorthWestern Corp.		20		606
Empire District Electric Co.		27		588
Otter Tail Corp.		25		568
Chesapeake Utilities Corp.		10		416
CH Energy Group, Inc.		8		404
Dynegy, Inc. - Class A^*		67		381
Laclede Group, Inc.		9		343
California Water Service Group		9		335
Connecticut Water Service, Inc.		10		263
Unitil Corp.		10		236
Central Vermont Public Service Corp.		10		233
SJW Corp.		10		232
American States Water Co.		6		215
Middlesex Water Co.		10		182
York Water Co.		10		174
Consolidated Water Company Ltd.		14		153
Cadiz, Inc.^*		10		122
American DG Energy, Inc.^*		10		22

Total Utilities				24,623

Consumer Staples - 0.5%
United Natural Foods, Inc.^*		29		1,300
TreeHouse Foods, Inc.^*		20		1,137
Ruddick Corp.		29		1,119
Hain Celestial Group, Inc.^*		30		968
Universal Corp.		20		871
Nu Skin Enterprises, Inc. - Class A		30		863
Boston Beer Company, Inc. - Class A^*		9		834


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 17.8% (continued)
Consumer Staples - 0.5% (continued)
Fresh Del Monte Produce, Inc.		30	$	783
Casey’s General Stores, Inc.		20		780
Darling International, Inc.^*		48		738
Sanderson Farms, Inc.		15		689
Lancaster Colony Corp.		10		606
Elizabeth Arden, Inc.^*		19		570
Diamond Foods, Inc.		10		558
Weis Markets, Inc.		13		526
Tootsie Roll Industries, Inc.		19		526
B&G Foods, Inc. - Class A		28		526
Andersons, Inc.		10		487
J&J Snack Foods Corp.		10		471
Vector Group Ltd.		26		450
Chiquita Brands International, Inc.^*		29		445
Rite Aid Corp.^*		408		432
WD-40 Co.		10		423
Nash Finch Co.		10		379
Heckmann Corp.^*		57		373
Central Garden and Pet Co. - Class A^*		40		368
Pricesmart, Inc.		10		366
Prestige Brands Holdings, Inc.^*		30		345
Snyders-Lance, Inc.		16		318
Winn-Dixie Stores, Inc.^*		40		286
Star Scientific, Inc.^*		62		281
Spectrum Brands Holdings, Inc.^*		9		250
Dole Food Company, Inc.^*		18		245
Seneca Foods Corp. - Class A^*		8		239
Alliance One International, Inc.^*		59		237
Limoneira Co.		10		237
Pilgrim’s Pride Corp.^*		30		231
Calavo Growers, Inc.		9		197
Inter Parfums, Inc.		10		185
National Beverage Corp.		13		179
Cal-Maine Foods, Inc.		6		177
Smart Balance, Inc.^*		38		174
Griffin Land & Nurseries, Inc.		5		161
Revlon, Inc. - Class A^*		10		159
Ingles Markets, Inc. - Class A		8		159
Medifast, Inc.^*		8		158
Nutraceutical International Corp.^*		10		150
Pantry, Inc.^*		10		148
Imperial Sugar Co.		10		133
Spartan Stores, Inc.		9		133
John B. Sanfilippo & Son, Inc.^*		10		117
Synutra International, Inc.^*		8		92
MGP Ingredients, Inc.		10		87
Schiff Nutrition International, Inc.		7		64
Harbinger Group, Inc.^*		10		52
Female Health Co.		8		40

Total Consumer Staples				22,822

Telecommunication Services - 0.1%
AboveNet, Inc.		10		649
Hughes Communications, Inc.^*		10		597
Cogent Communications Group, Inc.^*		26		371
Shenandoah Telecommunications Co.		20		361
Cincinnati Bell, Inc.^*		127		340
Consolidated Communications Holdings, Inc.		18		337
Vonage Holdings Corp.^*		68		310
General Communication, Inc. - Class A^*		28		306
Alaska Communications Systems Group, Inc.		28		298
Premiere Global Services, Inc.^*		39		297
NTELOS Holdings Corp.		16		295
Global Crossing Ltd.^*		20		278
IDT Corp. - Class B		10		270
PAETEC Holding Corp.^*		78		261
Neutral Tandem, Inc.^*		17		251
Atlantic Tele-Network, Inc.		6		223
Cbeyond, Inc.^*		17		198
Iridium Communications, Inc.^*		20		160
ICO Global Communications Holdings Ltd.^*		58		155
USA Mobility, Inc.		10		145
Globalstar, Inc.^*		48		61
FiberTower Corp.^*		30		60

Total Telecommunication Services				6,223

Total Common Stocks
(Cost $375,580)				797,708

RIGHTS^†† - 0%
Empire Resorts, Inc.
Expires 07/25/11		20		-

(Cost $ —)				-

CLOSED-END FUND^† - 0.0%
Kayne Anderson Energy Development Co.		11		215

(Cost $73)


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 2x Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 6.7%
Federal Farm Credit Bank²
0.02% due 04/12/11	$	300,000	$	299,999

Total Federal Agency Discount Notes (Cost $300,000)				299,999

REPURCHASE AGREEMENTS^††,3 - 59.1%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11⁴		1,301,938		1,301,938
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		363,109		363,109
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		327,106		327,106
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		327,106		327,106
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		327,106		327,106

Total Repurchase Agreements (Cost $2,646,365)				2,646,365

Total Investments - 83.6% (Cost $3,322,018)			$	3,744,287
Cash & Other Assets, Less Liabilities - 16.4%				734,634

Total Net Assets - 100.0%			$	4,478,921


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS PURCHASED^†
June 2011 Russell 2000 Index Mini Futures Contracts (Aggregate Value of Contracts $672,960)		8	$	23,022


			Unrealized
	Units		Gain
EQUITY INDEX SWAP AGREEMENTS^††
Goldman Sachs International April 2011 Russell 2000 Index Swap, Terminating 04/27/11⁵ (Notional Value $5,416,497)		6,421	$	134,600
Morgan Stanley Capital Services, Inc. April 2011 Russell 2000 Index Swap, Terminating 04/26/11⁵ (Notional Value $522,395)		619		12,420
Credit Suisse Capital, LLC April 2011 Russell 2000 Index Swap, Terminating 04/28/11⁵ (Notional Value $1,545,416)		1,832		9,402
(Total Notional Value $7,484,308)			$	156,422


*		Non-income producing security

†		Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

†††		Value determined based on Level 3 inputs — See Note 3.

1		Illiquid security.

2		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

3		Repurchase Agreements — See Note 2.

4		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

5		Total Return based on Russell 2000 Index +/- financing at a variable rate.

plc		Public Limited Company

REIT		Real Estate Investment Trust


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 9.4%
Financials - 1.9%
American Capital Ltd.^*		562	$	5,564
Highwoods Properties, Inc.		124		4,341
Stifel Financial Corp.^*		60		4,307
BioMed Realty Trust, Inc.		217		4,127
CBL & Associates Properties, Inc.		230		4,007
Signature Bank ^*		70		3,948
Entertainment Properties Trust		84		3,933
Apollo Investment Corp.		321		3,871
SVB Financial Group^*		66		3,757
MFA Financial, Inc.		458		3,756
Kilroy Realty Corp.		95		3,689
Tanger Factory Outlet Centers		140		3,674
Home Properties, Inc.		62		3,655
Prosperity Bancshares, Inc.		84		3,593
National Retail Properties, Inc.		136		3,554
American Campus Communities, Inc.		107		3,531
Alterra Capital Holdings Ltd.		158		3,530
Omega Healthcare Investors, Inc.		152		3,396
LaSalle Hotel Properties		121		3,267
Washington Real Estate Investment Trust		105		3,264
Post Properties, Inc.		81		3,179
ProAssurance Corp.^*		50		3,169
FirstMerit Corp.		182		3,105
Mid-America Apartment Communities, Inc.		46		2,953
MGIC Investment Corp.^*		331		2,943
Extra Space Storage, Inc.		137		2,837
CNO Financial Group, Inc.^*		377		2,831
Platinum Underwriters Holdings Ltd.		74		2,819
First American Financial Corp.		170		2,805
DiamondRock Hospitality Co.		248		2,770
Potlatch Corp.		67		2,693
Portfolio Recovery Associates, Inc.^*		30		2,554
Trustmark Corp.		109		2,553
NewAlliance Bancshares, Inc.		172		2,552
Colonial Properties Trust		132		2,541
Webster Financial Corp.		113		2,422
Equity Lifestyle Properties, Inc.		42		2,421
Westamerica Bancorporation		47		2,414
Ezcorp, Inc. — Class A^*		76		2,386
Hatteras Financial Corp.		84		2,362
Iberiabank Corp.		39		2,345
Delphi Financial Group, Inc. — Class A		76		2,334
Cash America International, Inc.		50		2,302
American Capital Agency Corp.		78		2,273
Northwest Bancshares, Inc.		180		2,257
Healthcare Realty Trust, Inc.		99		2,247
Whitney Holding Corp.		163		2,220
Cathay General Bancorp		129		2,199
Umpqua Holdings Corp.		192		2,196
Medical Properties Trust, Inc.		184		2,129
Montpelier Re Holdings Ltd.		120		2,120
Knight Capital Group, Inc. — Class A^*		157		2,104
FNB Corp.		194		2,045
Redwood Trust, Inc.		130		2,021
National Health Investors, Inc.		42		2,013
Astoria Financial Corp.		139		1,997
Susquehanna Bancshares, Inc.		213		1,992
Sovran Self Storage, Inc.		50		1,978
DCT Industrial Trust, Inc.		356		1,976
PHH Corp.^*		90		1,959
World Acceptance Corp.^*		30		1,956
UMB Financial Corp.		52		1,942
First Cash Financial Services, Inc.^*		49		1,891
MB Financial, Inc.		90		1,886
Wintrust Financial Corp.		51		1,874
Starwood Property Trust, Inc.		82		1,829
EastGroup Properties, Inc.		41		1,803
PS Business Parks, Inc.		31		1,796
Glacier Bancorp, Inc.		119		1,791
International Bancshares Corp.		94		1,724
First Financial Bancorp		103		1,719
DuPont Fabros Technology, Inc.		70		1,698
Argo Group International Holdings Ltd.		51		1,685
Tower Group, Inc.		70		1,682
Sunstone Hotel Investors, Inc.^*		163		1,661
Prospect Capital Corp.		134		1,636
U-Store-It Trust		154		1,620
RLI Corp.		28		1,614
Hancock Holding Co.		49		1,609
National Penn Bancshares, Inc.		207		1,602
Old National Bancorp		146		1,565
Texas Capital Bancshares, Inc.^*		60		1,559
Invesco Mortgage Capital, Inc.		71		1,551
United Bankshares, Inc.		58		1,538
Franklin Street Properties Corp.		109		1,534
Capstead Mortgage Corp.		120		1,534
KBW, Inc.		58		1,519
Radian Group, Inc.		223		1,519
Lexington Realty Trust		162		1,515
Strategic Hotels & Resorts, Inc.^*		234		1,509
Employers Holdings, Inc.		73		1,508
First Financial Bankshares, Inc.		29		1,490
Selective Insurance Group, Inc.		86		1,488
Provident Financial Services, Inc.		100		1,480
Anworth Mortgage Asset Corp.		206		1,461
Government Properties Income Trust		54		1,450
CVB Financial Corp.		154		1,434
First Midwest Bancorp, Inc.		121		1,427
MF Global Holdings Ltd.^*		172		1,424
iStar Financial, Inc.^*		154		1,414
Greenlight Capital Re Ltd. — Class A^*		50		1,411
American Equity Investment Life Holding Co.		103		1,351
NBT Bancorp, Inc.		59		1,345
Park National Corp.		20		1,336
PrivateBancorp, Inc. — Class A		87		1,330
Acadia Realty Trust		70		1,324
Ocwen Financial Corp.^*		119		1,311
Sterling Bancshares, Inc.		152		1,309
Dollar Financial Corp.^*		63		1,307
Glimcher Realty Trust		140		1,295
Hersha Hospitality Trust — Class A		217		1,289


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Pebblebrook Hotel Trust		58		1,285
optionsXpress Holdings, Inc.		70		1,282
Cousins Properties, Inc.		153		1,278
Investment Technology Group, Inc.^*		69		1,255
First Industrial Realty Trust, Inc.^*		105		1,248
Sun Communities, Inc.		35		1,248
Pennsylvania Real Estate Investment Trust		87		1,241
BlackRock Kelso Capital Corp.		121		1,226
MarketAxess Holdings, Inc.		50		1,210
Pico Holdings, Inc.^*		40		1,202
Fifth Street Finance Corp.		90		1,202
Piper Jaffray Companies, Inc.^*		29		1,201
First Commonwealth Financial Corp.		175		1,199
LTC Properties, Inc.		42		1,190
Infinity Property & Casualty Corp.		20		1,190
Investors Real Estate Trust		125		1,188
Equity One, Inc.		63		1,183
Investors Bancorp, Inc.^*		79		1,176
Associated Estates Realty Corp.		74		1,175
Inland Real Estate Corp.		123		1,173
Columbia Banking System, Inc.		61		1,169
PacWest Bancorp		53		1,153
Community Bank System, Inc.		47		1,141
Forestar Group, Inc.^*		59		1,122
Oritani Financial Corp.		88		1,116
Safety Insurance Group, Inc.		24		1,107
Bank of the Ozarks, Inc.		25		1,093
Brookline Bancorp, Inc.		103		1,085
National Financial Partners Corp.^*		73		1,077
Horace Mann Educators Corp.		63		1,058
Cohen & Steers, Inc.		35		1,039
Navigators Group, Inc.^*		20		1,030
City Holding Co.		29		1,025
Primerica, Inc.		40		1,020
First Potomac Realty Trust		64		1,008
FelCor Lodging Trust, Inc.^*		163		999
Oriental Financial Group, Inc.		78		979
Home Bancshares, Inc.		43		978
Meadowbrook Insurance Group, Inc.		92		952
Universal Health Realty Income Trust		23		932
Western Alliance Bancorporation^*		112		921
Evercore Partners, Inc. — Class A		26		892
S&T Bancorp, Inc.		41		884
Banco Latinoamericano de Comercio Exterior S.A. — Class E		50		873
Boston Private Financial Holdings, Inc.		123		870
Internet Capital Group, Inc.^*		61		866
MCG Capital Corp.		131		852
Nelnet, Inc. — Class A		39		851
WesBanco, Inc.		40		828
Simmons First National Corp. — Class A		30		813
Cypress Sharpridge Investments, Inc.		64		812
Independent Bank Corp.		30		810
United Fire & Casualty Co.		40		808
BGC Partners, Inc. — Class A		87		808
Artio Global Investors, Inc. — Class A		50		808
Ramco-Gershenson Properties Trust		64		802
Flagstone Reinsurance Holdings S.A.		89		802
Compass Diversified Holdings		54		796
Pinnacle Financial Partners, Inc.^*		48		794
Lakeland Financial Corp.		35		794
Sabra Healthcare REIT, Inc.		45		792
Retail Opportunity Investments Corp.		72		788
Urstadt Biddle Properties, Inc. — Class A		41		780
Trustco Bank Corp.		131		777
PennantPark Investment Corp.		64		763
Amtrust Financial Services, Inc.		40		763
CNA Surety Corp.^*		30		758
Chemical Financial Corp.		38		757
Sandy Spring Bancorp, Inc.		41		757
Getty Realty Corp.		33		755
Ashford Hospitality Trust, Inc.		68		749
Southside Bancshares, Inc.		35		749
Hilltop Holdings, Inc.^*		74		743
Parkway Properties, Inc.		43		731
Education Realty Trust, Inc.		90		723
Credit Acceptance Corp.^*		10		710
FBL Financial Group, Inc. — Class A		23		707
WSFS Financial Corp.		15		707
Flushing Financial Corp.		47		700
FPIC Insurance Group, Inc.^*		18		682
Duff & Phelps Corp. — Class A		42		671
Saul Centers, Inc.		15		668
SCBT Financial Corp.		20		666
First Financial Corp.		20		665
AMERISAFE, Inc.^*		30		663
Harleysville Group, Inc.		20		663
Renasant Corp.		39		662
PMI Group, Inc.^*		241		651
Danvers Bancorp, Inc.		30		643
Bancfirst Corp.		15		640
Hercules Technology Growth Capital, Inc.		58		638
Oppenheimer Holdings, Inc. — Class A		19		637
Walter Investment Management Corp.		39		629
TowneBank		40		626
NorthStar Realty Finance Corp.		117		626
Newcastle Investment Corp.^*		103		622
International. FCStone, Inc.^*		24		610
Cardinal Financial Corp.		52		606
1st Source Corp.		30		601
Enstar Group Ltd.^*		6		599
Maiden Holdings Ltd.		80		599
Tejon Ranch Co.^*		16		588
Penns Woods Bancorp, Inc.		15		584
StellarOne Corp.		41		582
Tompkins Financial Corp.		14		582
Citizens Republic Bancorp, Inc.^*		651		579
Provident New York Bancorp		56		578
Nara Bancorp, Inc.^*		60		577
Encore Capital Group, Inc.^*		24		569


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
GFI Group, Inc.		112		562
Cedar Shopping Centers, Inc.		93		561
PennyMac Mortgage Investment Trust		30		552
Financial Engines, Inc.^*		20		551
NewStar Financial, Inc.^*		50		546
eHealth, Inc.^*		40		532
Univest Corporation of Pennsylvania		30		532
Dime Community Bancshares, Inc.		36		531
Safeguard Scientifics, Inc.^*		26		529
Beneficial Mutual Bancorp, Inc.^*		61		526
Apollo Commercial Real Estate Finance, Inc.		32		523
West Coast Bancorp^*		150		521
Phoenix Companies, Inc.^*		189		514
MVC Capital, Inc.		37		508
Calamos Asset Management, Inc. — Class A		30		498
CapLease, Inc.		90		493
Advance America Cash Advance Centers, Inc.		93		493
Consolidated-Tomoka Land Co.		15		486
Global Indemnity plc — Class A^*		22		484
Resource Capital Corp.		73		481
Kansas City Life Insurance Co.		15		480
Kite Realty Group Trust		89		473
Virtus Investment Partners, Inc.^*		8		471
Westfield Financial, Inc.		52		471
Arrow Financial Corp.		19		470
TICC Capital Corp.		43		467
Winthrop Realty Trust		38		466
Washington Banking Co.		33		465
TradeStation Group, Inc.^*		66		463
First Busey Corp.		91		462
Hudson Valley Holding Corp.		21		462
Suffolk Bancorp		22		462
Capital Southwest Corp.		5		458
Center Financial Corp.^*		62		455
Southwest Bancorp, Inc.		32		454
Triangle Capital Corp.		25		452
HFF, Inc. — Class A^*		30		451
Community Trust Bancorp, Inc.		16		443
Two Harbors Investment Corp.		42		440
Chesapeake Lodging Trust		25		435
Alliance Financial Corp.		13		434
Citizens, Inc.^*		59		431
United Financial Bancorp, Inc.		26		429
Great Southern Bancorp, Inc.		20		429
First Community Bancshares, Inc.		30		425
SeaBright Holdings, Inc.		41		420
NGP Capital Resources Co.		43		415
Cogdell Spencer, Inc.		69		410
Main Street Capital Corp.		22		406
RAIT Financial Trust		164		403
SY Bancorp, Inc.		16		403
Sterling Bancorp — Class N		40		400
Northfield Bancorp, Inc.		29		400
Territorial Bancorp, Inc.		20		398
Arlington Asset Investment Corp. — Class A		13		396
Colony Financial, Inc.		21		395
Bryn Mawr Bank Corp.		19		391
Financial Institutions, Inc.		22		385
United Community Banks, Inc.^*		162		384
Farmer Mac — Class C		20		382
Washington Trust Bancorp, Inc.		16		380
Epoch Holding Corp.		24		379
German American Bancorp, Inc.		22		378
Camden National Corp.		11		377
Bank of Marin Bancorp		10		373
Ameris Bancorp		36		366
Eagle Bancorp, Inc.^*		26		365
CoBiz Financial, Inc.		52		361
First of Long Island Corp.		13		361
Union First Market Bankshares Corp.		32		360
Bancorp, Inc.^*		39		360
Trico Bancshares		22		359
Abington Bancorp, Inc.		29		355
Berkshire Hills Bancorp, Inc.		17		354
Home Federal Bancorp, Inc.		30		353
Monmouth Real Estate Investment Corp. — Class A		43		353
Republic Bancorp, Inc. — Class A		18		351
National Bankshares, Inc.		12		347
State Auto Financial Corp.		19		346
American Safety Insurance Holdings Ltd.^*		16		343
First Financial Holdings, Inc.		30		339
Agree Realty Corp.		15		337
Citizens & Northern Corp.		20		336
Bridge Bancorp, Inc.		15		336
Gladstone Capital Corp.		29		328
FBR Capital Markets Corp.^*		91		326
Westwood Holdings Group, Inc.		8		322
Dynex Capital, Inc.		32		322
OceanFirst Financial Corp.		23		321
SWS Group, Inc.		52		316
Gladstone Investment Corp.		40		310
Kennedy-Wilson Holdings, Inc.^*		28		304
Lakeland Bancorp, Inc.		29		301
First Merchants Corp.		36		298
MPG Office Trust, Inc.^*		80		297
Metro Bancorp, Inc.^*		24		296
Enterprise Financial Services Corp.		21		295
Donegal Group, Inc. — Class A		22		294
Harris & Harris Group, Inc.^*		54		291
Pacific Continental Corp.		28		285
BankFinancial Corp.		31		285
Bank Mutual Corp.		67		283
Excel Trust, Inc.		24		283
1st United Bancorp, Inc.^*		40		281
MainSource Financial Group, Inc.		28		280
Orrstown Financial Services, Inc.		10		280
GAMCO Investors, Inc. — Class A		6		278
CNB Financial Corp.		19		276
CreXus Investment Corp.		24		274
Stewart Information Services Corp.		26		272
Heartland Financial USA, Inc.		16		272
State Bancorp, Inc.		26		270
OmniAmerican Bancorp, Inc.^*		17		269
Heritage Financial Corp.^*		19		269
First Bancorp		20		265
ESSA Bancorp, Inc.		20		264
Terreno Realty Corp.		15		258


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Presidential Life Corp.		27		257
Gladstone Commercial Corp.		14		255
Virginia Commerce Bancorp, Inc.^*		44		253
Centerstate Banks, Inc.		36		252
Cowen Group, Inc. — Class A^*		62		249
EMC Insurance Group, Inc.		10		248
ViewPoint Financial Group		19		247
Sierra Bancorp		22		246
Kearny Financial Corp.		24		241
Peoples Bancorp, Inc.		20		240
LaBranche & Company, Inc.^*		60		236
Baldwin & Lyons, Inc. — Class B		10		234
UMH Properties, Inc.		23		229
Capital City Bank Group, Inc.		18		228
Chatham Lodging Trust		14		228
Clifton Savings Bancorp, Inc.		19		226
American National Bankshares, Inc.		10		225
Gleacher & Company, Inc.^*		129		224
Sanders Morris Harris Group, Inc.		28		224
Tower Bancorp, Inc.		10		223
Golub Capital BDC, Inc.		14		221
First Interstate Bancsystem, Inc. — Class A		16		218
Solar Capital Ltd.		9		215
Hanmi Financial Corp.^*		173		215
Home Bancorp, Inc.^*		14		214
NASB Financial, Inc.		13		210
Mission West Properties, Inc.		32		210
Taylor Capital Group, Inc.^*		20		210
West Bancorporation, Inc.		26		207
First Marblehead Corp.^*		90		198
Thomas Properties Group, Inc.^*		59		198
National Interstate Corp.		9		188
Century Bancorp, Inc. — Class A		7		187
Crawford & Co. — Class B		39		186
Merchants Bancshares, Inc.		7		185
Bancorp Rhode Island, Inc.		6		185
First Bancorp, Inc.		12		183
Avatar Holdings, Inc.^*		9		178
Penson Worldwide, Inc.^*		26		174
Marlin Business Services Corp.^*		14		173
Asta Funding, Inc.		20		171
Ladenburg Thalmann Financial Services, Inc.^*		147		169
Medallion Financial Corp.		19		167
Peapack Gladstone Financial Corp.		12		159
Rockville Financial, Inc.^*		15		156
Primus Guaranty Ltd.^*		30		152
Hallmark Financial Services^*		18		151
One Liberty Properties, Inc.		10		151
Universal Insurance Holdings, Inc.		27		146
Midsouth Bancorp, Inc.		10		145
Wilshire Bancorp, Inc.		29		142
Meridian Interstate Bancorp, Inc.^*		10		141
JMP Group, Inc.		16		138
THL Credit, Inc.		10		137
CompuCredit Holdings Corp.^*		20		131
Fox Chase Bancorp, Inc.		9		125
Encore Bancshares, Inc.^*		10		121
Flagstar Bancorp, Inc.^*		80		120
Ames National Corp.		6		115
Asset Acceptance Capital Corp.^*		21		113
Roma Financial Corp.		10		111
Life Partners Holdings, Inc.		12		96
BofI Holding, Inc.^*		6		93
MidWestOne Financial Group, Inc.		6		89
ESB Financial Corp.		6		89
Diamond Hill Investment Group, Inc.		1		80
Pzena Investment Management, Inc. — Class A		11		78
First BanCorp^*		15		75
Rodman & Renshaw Capital Group, Inc.^*		34		70
Heritage Financial Group, Inc.		5		64
Porter Bancorp, Inc.		8		63
Green Bankshares, Inc.^*		20		56
First South Bancorp, Inc.		10		50
Waterstone Financial, Inc.^*		14		43
Doral Financial Corp.^*		28		31

Total Financials				406,910

Information Technology - 1.8%
Riverbed Technology, Inc.^*		214		8,057
VeriFone Systems, Inc.^*		139		7,638
TIBCO Software, Inc.^*		272		7,412
Rackspace Hosting, Inc.^*		163		6,985
Acme Packet, Inc.^*		75		5,322
Ariba, Inc.^*		146		4,984
Jack Henry & Associates, Inc.		141		4,778
Aruba Networks, Inc.^*		132		4,467
Parametric Technology Corp.^*		189		4,251
ADTRAN, Inc.		96		4,076
Netlogic Microsystems, Inc.^*		96		4,034
SuccessFactors, Inc.^*		103		4,026
Concur Technologies, Inc.^*		70		3,882
Anixter International, Inc.		53		3,704
Veeco Instruments, Inc.^*		70		3,559
TriQuint Semiconductor, Inc.^*		260		3,357
InterDigital, Inc.		70		3,340
Cavium Networks, Inc.^*		74		3,325
Progress Software Corp.^*		112		3,258
Hittite Microwave Corp.^*		51		3,252
Omnivision Technologies, Inc.^*		91		3,233
OpenTable, Inc.^*		30		3,191
GSI Commerce, Inc.^*		109		3,190
Fortinet, Inc.^*		70		3,080
CACI International, Inc. — Class A^*		50		3,066
Wright Express Corp.^*		58		3,007
Finisar Corp.^*		120		2,952
Microsemi Corp.^*		140		2,899
MAXIMUS, Inc.		35		2,841
CommVault Systems, Inc.^*		71		2,831
Cymer, Inc.^*		50		2,829
RF Micro Devices, Inc.^*		441		2,827
Plantronics, Inc.		76		2,783
Lawson Software, Inc.^*		228		2,759
Universal Display Corp.^*		50		2,752
Arris Group, Inc.^*		209		2,663
Mentor Graphics Corp.^*		180		2,633
Quest Software, Inc.^*		101		2,564
MKS Instruments, Inc.		76		2,531
Semtech Corp.^*		100		2,502
Digital River, Inc.^*		66		2,470
Ultimate Software Group, Inc.^*		42		2,467
TTM Technologies, Inc.^*		135		2,452


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Coherent, Inc.^*		42		2,441
Taleo Corp. — Class A^*		67		2,389
Blackboard, Inc.^*		65		2,356
Cabot Microelectronics Corp.^*		45		2,351
Plexus Corp.^*		67		2,349
Littelfuse, Inc.		40		2,284
Cirrus Logic, Inc.^*		108		2,271
Fair Isaac Corp.		70		2,213
JDA Software Group, Inc.^*		73		2,209
IPG Photonics Corp.^*		38		2,192
Unisys Corp.^*		70		2,185
Rofin-Sinar Technologies, Inc.^*		54		2,133
Diodes, Inc.^*		62		2,112
Netgear, Inc.^*		65		2,109
SAVVIS, Inc.^*		56		2,077
j2 Global Communications, Inc.^*		70		2,066
Cognex Corp.		72		2,034
ACI Worldwide, Inc.^*		62		2,034
FEI Co.^*		60		2,023
Integrated Device Technology, Inc.^*		273		2,012
Viasat, Inc.^*		50		1,992
SRA International, Inc. — Class A^*		70		1,985
Entegris, Inc.^*		226		1,982
Sapient Corp.^*		173		1,981
ValueClick, Inc.^*		132		1,909
Benchmark Electronics, Inc.^*		100		1,897
Blue Coat Systems, Inc.^*		67		1,887
Blackbaud, Inc.		69		1,880
Take-Two Interactive Software, Inc.^*		120		1,844
Terremark Worldwide, Inc.^*		97		1,843
Advent Software, Inc.^*		64		1,835
Constant Contact, Inc.^*		51		1,780
DealerTrack Holdings, Inc.^*		75		1,722
Loral Space & Communications, Inc.^*		22		1,706
Synaptics, Inc.^*		62		1,675
Mantech International Corp. — Class A^*		39		1,654
Stratasys, Inc.^*		35		1,645
TiVo, Inc.^*		187		1,638
Checkpoint Systems, Inc.^*		72		1,619
Power Integrations, Inc.		42		1,610
Websense, Inc.^*		70		1,608
DTS, Inc.^*		34		1,585
L-1 Identity Solutions, Inc. — Class 1^*		133		1,567
Euronet Worldwide, Inc.^*		81		1,566
Brooks Automation, Inc.^*		114		1,565
Scansource, Inc.^*		41		1,558
Acxiom Corp.^*		107		1,535
Aspen Technology, Inc.^*		102		1,529
Sanmina-SCI Corp.^*		133		1,491
Harmonic, Inc.^*		157		1,473
Sourcefire, Inc.^*		53		1,458
Tessera Technologies, Inc.^*		79		1,443
SolarWinds, Inc.^*		60		1,408
Earthlink, Inc.		178		1,394
Emulex Corp.^*		130		1,387
MTS Systems Corp.		30		1,367
Insight Enterprises, Inc.^*		80		1,362
FARO Technologies, Inc.^*		34		1,360
Comtech Telecommunications Corp.		50		1,359
Brightpoint, Inc.^*		125		1,355
DG FastChannel, Inc.^*		42		1,353
RightNow Technologies, Inc.^*		43		1,346
MicroStrategy, Inc. — Class A^*		10		1,345
STEC, Inc.^*		66		1,326
Netscout Systems, Inc.^*		48		1,311
SYNNEX Corp.^*		40		1,309
Rogers Corp.^*		29		1,307
Sonus Networks, Inc.^*		343		1,290
Manhattan Associates, Inc.^*		39		1,276
OSI Systems, Inc.^*		34		1,276
comScore, Inc.^*		41		1,210
Bottomline Technologies, Inc.^*		48		1,207
Ultratech, Inc.^*		41		1,205
CSG Systems International, Inc.^*		60		1,196
Applied Micro Circuits Corp.^*		115		1,194
Infinera Corp.^*		142		1,191
Tyler Technologies, Inc.^*		50		1,185
Pegasystems, Inc.		31		1,176
Avid Technology, Inc.^*		52		1,160
Silicon Image, Inc.^*		129		1,157
VirnetX Holding Corp.		57		1,135
Amkor Technology, Inc.^*		167		1,126
Heartland Payment Systems, Inc.		64		1,122
Lattice Semiconductor Corp.^*		190		1,121
Micrel, Inc.		83		1,119
NIC, Inc.		89		1,109
Kulicke & Soffa Industries, Inc.^*		118		1,103
Volterra Semiconductor Corp.^*		44		1,093
Silicon Graphics International Corp.^*		51		1,091
Black Box Corp.		31		1,090
Newport Corp.^*		61		1,088
Synchronoss Technologies, Inc.^*		31		1,077
Power-One, Inc.^*		122		1,067
Ancestry.com, Inc.^*		30		1,064
Kenexa Corp.^*		38		1,048
NetSuite, Inc.^*		35		1,018
Powerwave Technologies, Inc.^*		221		997
Standard Microsystems Corp.^*		40		986
Electronics for Imaging, Inc.^*		67		986
ATMI, Inc.^*		52		982
Advanced Energy Industries, Inc.^*		60		981
Oclaro, Inc.^*		85		978
Entropic Communications, Inc.^*		115		972
TeleTech Holdings, Inc.^*		50		969
Travelzoo, Inc.^*		14		932
Hypercom Corp.^*		77		926
Radiant Systems, Inc.^*		52		920
Cardtronics, Inc.^*		45		916
Park Electrochemical Corp.		28		903
Ebix, Inc.^*		38		899
Quantum Corp.^*		349		879
Tekelec^*		107		869
Electro Scientific Industries, Inc.^*		50		868
Mercury Computer Systems, Inc.^*		41		868
Rubicon Technology, Inc.^*		31		858
United Online, Inc.		136		857
Zoran Corp.^*		82		852
Epicor Software Corp.^*		76		841
Syntel, Inc.		16		836


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Formfactor, Inc.^*		81		834
LivePerson, Inc.^*		66		834
Intermec, Inc.^*		77		831
MIPS Technologies, Inc. — Class A^*		79		829
Ixia^*		51		810
Vocus, Inc.^*		30		776
Photronics, Inc.^*		86		771
Maxwell Technologies, Inc.^*		44		760
Measurement Specialties, Inc.^*		22		749
LTX-Credence Corp.^*		82		749
EPIQ Systems, Inc.		52		747
Accelrys, Inc.^*		91		728
Methode Electronics, Inc.		60		725
LogMeIn, Inc.^*		17		717
iGate Corp.		38		713
Ceva, Inc.^*		26		695
Ciber, Inc.^*		102		683
ExlService Holdings, Inc.^*		32		677
Super Micro Computer, Inc.^*		42		674
Magma Design Automation, Inc.^*		98		668
SMART Modular Technologies WWH, Inc.^*		86		668
Daktronics, Inc.		62		667
Opnet Technologies, Inc.		17		663
Knot, Inc.^*		55		663
Sigma Designs, Inc.^*		51		660
Monolithic Power Systems, Inc.^*		46		653
Forrester Research, Inc.		17		651
Multi-Fineline Electronix, Inc.^*		23		649
EMS Technologies, Inc.^*		33		649
CTS Corp.		59		637
Sycamore Networks, Inc.		26		635
Cohu, Inc.		41		630
Move, Inc.^*		263		629
Interactive Intelligence, Inc.^*		16		619
Internap Network Services Corp.^*		91		598
TNS, Inc.^*		38		592
Rudolph Technologies, Inc.^*		54		591
Limelight Networks, Inc.^*		82		587
Oplink Communications, Inc.^*		30		585
Xyratex Ltd.^*		52		581
Monotype Imaging Holdings, Inc.^*		40		580
Nanometrics, Inc.^*		32		579
S1 Corp.^*		86		574
IXYS Corp.^*		42		564
NVE Corp.^*		10		563
Infospace, Inc.^*		64		554
ShoreTel, Inc.^*		67		551
VASCO Data Security International, Inc.^*		40		549
Extreme Networks^*		152		532
Aviat Networks, Inc.^*		100		517
Electro Rent Corp.		30		515
Imation Corp.^*		46		512
THQ, Inc.^*		112		511
RealNetworks, Inc.^*		136		506
Zygo Corp.^*		34		497
Kopin Corp.^*		108		496
MoneyGram International, Inc.^*		144		494
Globecomm Systems, Inc.^*		40		493
Anadigics, Inc.^*		110		493
Supertex, Inc.^*		22		490
Echelon Corp.^*		48		486
Perficient, Inc.^*		40		480
Seachange International, Inc.^*		50		475
Intevac, Inc.^*		38		472
Spectrum Control, Inc.^*		24		472
Saba Software, Inc.^*		48		471
Virtusa Corp.^*		25		468
Axcelis Technologies, Inc.^*		176		466
PROS Holdings, Inc.^*		32		466
Anaren, Inc.^*		23		462
Smith Micro Software, Inc.^*		49		459
Mindspeed Technologies, Inc.^*		54		457
Dice Holdings, Inc.^*		30		453
Keynote Systems, Inc.		24		445
Ultra Clean Holdings^*		43		445
UTStarcom, Inc.^*		187		439
LoopNet, Inc.^*		30		425
Bel Fuse, Inc. — Class B		19		418
Pericom Semiconductor Corp.^*		40		415
DemandTec, Inc.^*		31		408
Symmetricom, Inc.^*		66		405
Digi International, Inc.^*		38		401
support.com, Inc.^*		77		400
Pulse Electronics Corp.		66		399
Wave Systems Corp. — Class A^*		127		398
Cray, Inc.^*		61		393
Gerber Scientific, Inc.^*		42		393
Cass Information Systems, Inc.		10		393
Integral Systems, Inc.^*		32		389
QuinStreet, Inc.^*		17		386
ModusLink Global Solutions, Inc.		70		382
Digimarc Corp.^*		13		376
Immersion Corp.^*		49		374
Integrated Silicon Solution, Inc.^*		40		371
Actuate Corp.^*		71		369
Exar Corp.^*		60		361
Liquidity Services, Inc.^*		20		357
Calix, Inc.^*		17		345
Lionbridge Technologies, Inc.^*		99		340
KIT Digital, Inc.^*		28		337
AXT, Inc.^*		47		337
SS&C Technologies Holdings, Inc.^*		16		327
Radisys Corp.^*		37		320
Zix Corp.^*		87		320
Conexant Systems, Inc.^*		132		314
Richardson Electronics Ltd.		23		303
KVH Industries, Inc.^*		20		302
Echo Global Logistics, Inc.^*		23		302
GSI Technology, Inc.^*		33		300
Spansion, Inc. — Class A^*		16		299
Openwave Systems, Inc.^*		139		297
American Software, Inc. — Class A		40		295
DSP Group, Inc.^*		38		293
Rosetta Stone, Inc.^*		22		291
X-Rite, Inc.^*		59		280
TeleCommunication Systems, Inc. — Class A^*		68		280
Advanced Analogic Technologies, Inc.^*		74		280
Viasystems Group, Inc.^*		10		273
FSI International, Inc.^*		62		272
Stamps.com, Inc.		20		267
PDF Solutions, Inc.^*		40		266
Rimage Corp.		16		258


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Novatel Wireless, Inc.^*		46		251
Global Cash Access Holdings, Inc.^*		76		249
MoSys, Inc.^*		41		246
Deltek, Inc.^*		31		236
PLX Technology, Inc.^*		64		234
FalconStor Software, Inc.^*		50		227
PC-Telephone, Inc.^*		28		215
Computer Task Group, Inc.^*		16		213
DDi Corp.		20		211
BigBand Networks, Inc.^*		82		209
Marchex, Inc. — Class A		26		205
Mattson Technology, Inc.^*		82		200
Renaissance Learning, Inc.		17		200
Comverge, Inc.^*		42		196
Hackett Group, Inc.^*		50		192
Network Equipment Technologies, Inc.^*		50		188
ePlus, Inc.^*		7		186
PC Connection, Inc.^*		20		177
Tessco Technologies, Inc.		15		172
SRS Labs, Inc.^*		20		171
Online Resources Corp.^*		45		170
Opnext, Inc.^*		69		168
Meru Networks, Inc.^*		8		162
Guidance Software, Inc.^*		19		159
SPS Commerce, Inc.^*		10		155
Agilysys, Inc.^*		27		155
NCI, Inc. — Class A^*		6		146
TechTarget, Inc.^*		16		143
Trident Microsystems, Inc.^*		122		140
CDC Corp. — Class A^*		54		138
Local.com Corp.^*		34		132
Tier Technologies, Inc. — Class B^*		24		132
Alpha & Omega Semiconductor Ltd.^*		10		127
Network Engines, Inc.^*		62		126
TeleNav, Inc.^*		10		119
Presstek, Inc.^*		53		110
Hutchinson Technology, Inc.^*		37		104
QAD, Inc. — Class A^*		9		97
Convio, Inc.^*		8		93
MaxLinear, Inc. — Class A^*		10		82
Ikanos Communications, Inc.^*		50		57
Stream Global Services, Inc.^*		10		30
QAD, Inc. — Class B^*		2		21

Total Information Technology				399,307

Industrials - 1.5%
Nordson Corp.		63		7,249
Clean Harbors, Inc.^*		45		4,440
GrafTech International Ltd.^*		197		4,064
Alaska Air Group, Inc.^*		64		4,059
Acuity Brands, Inc.		67		3,919
Esterline Technologies Corp.^*		52		3,677
Genesee & Wyoming, Inc. — Class A^*		63		3,667
CLARCOR, Inc.		80		3,594
Dollar Thrifty Automotive Group, Inc.^*		53		3,537
Woodward, Inc.		99		3,421
EMCOR Group, Inc.^*		110		3,407
United Rentals, Inc.^*		102		3,395
Watsco, Inc.		47		3,276
EnerSys^*		82		3,260
Actuant Corp. — Class A		111		3,219
Moog, Inc. — Class A^*		68		3,122
Teledyne Technologies, Inc.^*		60		3,103
Hexcel Corp.^*		156		3,072
Avis Budget Group, Inc.^*		169		3,027
Belden, Inc.		79		2,966
JetBlue Airways Corp.^*		469		2,941
HEICO Corp.		47		2,938
AO Smith Corp.		65		2,882
Robbins & Myers, Inc.		60		2,759
Brady Corp. — Class A		77		2,748
Curtiss-Wright Corp.		78		2,741
Triumph Group, Inc.		30		2,653
Atlas Air Worldwide Holdings, Inc.^*		38		2,649
Brink’s Co.		80		2,649
United Stationers, Inc.		37		2,629
Tetra Tech, Inc.^*		105		2,592
Herman Miller, Inc.		94		2,584
Corporate Executive Board Co.		64		2,584
Chart Industries, Inc.^*		46		2,532
Kaydon Corp.		64		2,508
Geo Group, Inc.^*		97		2,487
Old Dominion Freight Line, Inc.^*		70		2,456
Middleby Corp.^*		26		2,424
US Airways Group, Inc.^*		270		2,352
Applied Industrial Technologies, Inc.		70		2,328
Polypore International, Inc.^*		40		2,303
HNI Corp.		71		2,241
Rollins, Inc.		109		2,213
Mueller Industries, Inc.		60		2,197
ABM Industries, Inc.		86		2,184
HUB Group, Inc. — Class A^*		60		2,171
Acacia Research — Acacia Technologies^*		62		2,122
Deluxe Corp.		79		2,097
II-VI, Inc.^*		42		2,090
Healthcare Services Group, Inc.		115		2,022
Knight Transportation, Inc.		105		2,021
Werner Enterprises, Inc.		74		1,959
MasTec, Inc.^*		93		1,934
Ceradyne, Inc.^*		42		1,893
Franklin Electric Company, Inc.		40		1,848
Watts Water Technologies, Inc. — Class A		48		1,833
Simpson Manufacturing Company, Inc.		62		1,827
Korn^*		82		1,826
Granite Construction, Inc.		64		1,798
Orbital Sciences Corp.^*		92		1,741
Knoll, Inc.		83		1,740
Briggs & Stratton Corp.		76		1,721
Raven Industries, Inc.		28		1,720
CoStar Group, Inc.^*		27		1,692
Insituform Technologies, Inc. — Class A^*		63		1,685
American Superconductor Corp.^*		67		1,666
GeoEye, Inc.^*		40		1,663
Ladish Company, Inc.^*		30		1,639
Beacon Roofing Supply, Inc.^*		80		1,638
Titan International, Inc.		61		1,623
AirTran Holdings, Inc.^*		217		1,617
Barnes Group, Inc.		77		1,608


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
AAR Corp.^*		58		1,608
ESCO Technologies, Inc.		41		1,564
Skywest, Inc.		92		1,557
Mobile Mini, Inc.^*		64		1,537
Steelcase, Inc. — Class A		135		1,536
Interface, Inc. — Class A		83		1,535
Resources Connection, Inc.		79		1,532
Cubic Corp.		26		1,495
RBC Bearings, Inc.^*		39		1,491
DigitalGlobe, Inc.^*		53		1,486
CIRCOR International, Inc.		31		1,458
SYKES Enterprises, Inc.^*		73		1,443
Kaman Corp.		41		1,443
Advisory Board Co.^*		28		1,442
Forward Air Corp.		46		1,409
3D Systems Corp.^*		29		1,408
Heartland Express, Inc.		80		1,405
Amerco, Inc.^*		14		1,358
Ameron International Corp.		19		1,326
SFN Group, Inc.^*		94		1,324
Mine Safety Appliances Co.		36		1,320
Lindsay Corp.		16		1,264
Wabash National Corp.^*		109		1,262
Tennant Co.		30		1,261
Quanex Building Products Corp.		64		1,256
Astec Industries, Inc.^*		33		1,231
Insperity, Inc.		40		1,215
Blount International, Inc.^*		76		1,214
Allegiant Travel Co. — Class A		27		1,183
RSC Holdings, Inc.^*		81		1,165
TAL International Group, Inc.		32		1,161
Albany International Corp. — Class A		46		1,145
Trex Company, Inc.^*		35		1,142
Huron Consulting Group, Inc.^*		41		1,135
Mueller Water Products, Inc. — Class A		251		1,124
McGrath Rentcorp		41		1,118
TrueBlue, Inc.^*		66		1,108
AZZ, Inc.		24		1,094
GT Solar International, Inc.^*		99		1,055
Aerovironment, Inc.^*		30		1,049
Consolidated Graphics, Inc.^*		19		1,038
Arkansas Best Corp.		40		1,037
Rush Enterprises, Inc. — Class A^*		52		1,030
Aircastle Ltd.		85		1,026
Interline Brands, Inc.^*		50		1,020
Unifirst Corp.		19		1,007
Tutor Perini Corp.		41		999
Dycom Industries, Inc.^*		57		988
H&E Equipment Services, Inc.^*		50		975
Heidrick & Struggles International, Inc.		35		974
Altra Holdings, Inc.^*		41		968
John Bean Technologies Corp.		50		962
Universal Forest Products, Inc.		26		953
Sun Hydraulics Corp.		22		948
Badger Meter, Inc.		23		948
EnPro Industries, Inc.^*		26		944
Griffon Corp.^*		71		932
G&K Services, Inc. — Class A		28		931
American Science & Engineering, Inc.		10		924
Layne Christensen Co.^*		26		897
Kforce, Inc.^*		49		897
Colfax Corp.^*		39		895
EnergySolutions, Inc.		150		894
Kelly Services, Inc. — Class A^*		41		890
NACCO Industries, Inc. — Class A		8		885
Greenbrier Companies, Inc.^*		31		880
ACCO Brands Corp.^*		92		878
Standex International Corp.		23		871
Sauer-Danfoss, Inc.^*		17		866
Encore Wire Corp.		35		852
Comfort Systems USA, Inc.		60		844
LB Foster Co. — Class A		19		819
Exponent, Inc.^*		18		803
Air Transport Services Group, Inc.^*		94		794
Great Lakes Dredge & Dock Corp.		103		786
A123 Systems, Inc.^*		123		781
Navigant Consulting, Inc.^*		78		779
Tredegar Corp.		36		777
Satcon Technology Corp.^*		194		749
Textainer Group Holdings Ltd.		20		743
Capstone Turbine Corp.^*		407		737
Apogee Enterprises, Inc.		53		699
Dynamic Materials Corp.		25		699
Viad Corp.		29		694
Team, Inc.^*		26		683
RailAmerica, Inc.^*		40		682
Ennis, Inc.		40		681
Gorman-Rupp Co.		17		670
Gibraltar Industries, Inc.^*		55		656
Federal Signal Corp.		100		651
MYR Group, Inc.^*		27		646
Commercial Vehicle Group, Inc.^*		36		642
ICF International, Inc.^*		31		637
American Reprographics Co.^*		61		631
Dolan Co.^*		52		631
Cenveo, Inc.^*		92		601
GenCorp, Inc.^*		98		586
Genco Shipping & Trading Ltd.^*		54		582
Marten Transport Ltd.		26		580
Columbus McKinnon Corp.^*		31		572
Force Protection, Inc.^*		116		568
Hawaiian Holdings, Inc.^*		94		565
M&F Worldwide Corp.^*		22		553
Standard Parking Corp.^*		31		551
On Assignment, Inc.^*		58		549
CRA International, Inc.^*		19		548
CAI International, Inc.^*		21		543
CBIZ, Inc.^*		74		534
PMFG, Inc.^*		25		533
Generac Holdings, Inc.^*		26		528
AAON, Inc.		16		526
Ducommun, Inc.		22		526
Sterling Construction Company, Inc.^*		31		523
FreightCar America, Inc.		16		520
Trimas Corp.^*		24		516
EnerNOC, Inc.^*		27		516
Powell Industries, Inc.^*		13		513
Astronics Corp.^*		20		503
Vicor Corp.		30		495
Saia, Inc.^*		30		492
Celadon Group, Inc.^*		30		487


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Furmanite Corp.^*		60		480
Orion Marine Group, Inc.^*		44		473
Northwest Pipe Co.^*		20		459
Primoris Services Corp.		45		456
Graham Corp.		19		455
Houston Wire & Cable Co.		31		453
US Ecology, Inc.		26		453
American Railcar Industries, Inc.^*		18		449
Cascade Corp.		10		446
Insteel Industries, Inc.		31		438
School Specialty, Inc.^*		30		429
Kratos Defense & Security Solutions, Inc.^*		30		427
Kadant, Inc.^*		16		419
Mistras Group, Inc.^*		24		413
Republic Airways Holdings, Inc.^*		64		412
Taser International, Inc.^*		100		407
Michael Baker Corp.^*		14		407
Titan Machinery, Inc.^*		16		404
NCI Building Systems, Inc.^*		31		393
Schawk, Inc. — Class A		20		389
Twin Disc, Inc.		12		387
Ampco-Pittsburgh Corp.		14		386
Alamo Group, Inc.		14		384
Multi-Color Corp.		19		384
Metalico, Inc.^*		61		379
Eagle Bulk Shipping, Inc.^*		100		372
CDI Corp.		25		370
Flow International Corp.^*		83		364
Douglas Dynamics, Inc.		25		356
Kimball International, Inc. — Class B		50		350
FuelCell Energy, Inc.^*		156		334
APAC Customer Services, Inc.^*		55		331
Roadrunner Transportation Systems, Inc.^*		22		330
VSE Corp.		11		327
Miller Industries, Inc.		20		325
Aceto Corp.		40		319
Hudson Highland Group, Inc.^*		49		318
Pacer International, Inc.^*		60		316
Excel Maritime Carriers Ltd. — Class A^*		73		313
Ener1, Inc.^*		102		302
Casella Waste Systems, Inc. — Class A^*		42		301
Quality Distribution, Inc.^*		25		296
Innerworkings, Inc.^*		40		295
Park-Ohio Holdings Corp.^*		14		289
Pike Electric Corp.^*		30		286
LaBarge, Inc.^*		16		283
Tecumseh Products Co. — Class A^*		28		281
Lawson Products, Inc.		12		276
Baltic Trading Ltd.		30		274
PowerSecure International, Inc.^*		30		258
Lydall, Inc.^*		29		258
Met-Pro Corp.		21		250
Global Defense Technology & Systems, Inc.^*		10		242
Xerium Technologies, Inc.^*		10		241
Fuel Tech, Inc.^*		27		240
GP Strategies Corp.^*		17		231
DXP Enterprises, Inc.^*		10		231
LSI Industries, Inc.		31		224
International Shipholding Corp.		9		224
Courier Corp.		16		223
Energy Recovery, Inc.^*		69		219
American Woodmark Corp.		10		209
Universal Truckload Services, Inc.^*		12		207
Advanced Battery Technologies, Inc.^*		104		202
Hill International, Inc.^*		38		201
Microvision, Inc.^*		147		194
Broadwind Energy, Inc.^*		146		191
Builders FirstSource, Inc.^*		66		187
UQM Technologies, Inc.^*		62		185
Energy Conversion Devices, Inc.^*		81		183
Ultrapetrol Bahamas Ltd.^*		36		183
USA Truck, Inc.^*		14		182
Pinnacle Airlines Corp.^*		28		161
Barrett Business Services, Inc.		9		145
Franklin Covey Co.^*		16		139
PAM Transportation Services, Inc.^*		10		122
LMI Aerospace, Inc.^*		6		121
Coleman Cable, Inc.^*		12		106
Standard Register Co.		31		103
Argan, Inc.^*		10		86
Applied Energetics, Inc.^*		129		85
Compx International, Inc.		5		79
Evergreen Solar, Inc.^*		55		74
BlueLinx Holdings, Inc.^*		20		74
PGT, Inc.^*		31		73
Omega Flex, Inc.^*		5		67
Hoku Corp.^*		29		58
Horizon Lines, Inc. — Class A		51		43
LECG Corp.^*		40		8
Total Industrials				324,033

Consumer Discretionary - 1.2%
Sotheby’s		110		5,786
Deckers Outdoor Corp.^*		57		4,911
Tenneco, Inc.^*		100		4,245
Polaris Industries, Inc.		48		4,177
Warnaco Group, Inc.^*		72		4,118
Dana Holding Corp.^*		227		3,948
Rent-A-Center, Inc. — Class A		110		3,840
Under Armour, Inc. — Class A^*		56		3,811
Brunswick Corp.		146		3,713
Ascena Retail Group, Inc.^*		101		3,273
Cheesecake Factory, Inc.^*		104		3,129
Wolverine World Wide, Inc.		80		2,982
ANN, Inc.^*		102		2,969
Timberland Co. — Class A^*		70		2,890
Vail Resorts, Inc.^*		59		2,877
Dillard’s, Inc. — Class A		70		2,808
Meritor, Inc.^*		165		2,800
Carter’s, Inc.^*		97		2,777
Cooper Tire & Rubber Co.		103		2,652
Jos A. Bank Clothiers, Inc.^*		51		2,595
CROCS, Inc.^*		145		2,587
Life Time Fitness, Inc.^*		68		2,537
Saks, Inc.^*		223		2,522
Iconix Brand Group, Inc.^*		117		2,513
Ulta Salon Cosmetics & Fragrance, Inc.^*		52		2,503
Childrens Place Retail Stores, Inc.^*		50		2,492
Valassis Communications, Inc.^*		83		2,419


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Coinstar, Inc.^*		52		2,388
Live Nation Entertainment, Inc.^*		236		2,360
Men’s Wearhouse, Inc.		87		2,354
Collective Brands, Inc.^*		106		2,287
Sally Beauty Holdings, Inc.^*		160		2,242
Shutterfly, Inc.^*		40		2,094
Gaylord Entertainment Co.^*		60		2,081
Cracker Barrel Old Country Store, Inc.		42		2,064
Jack in the Box, Inc.^*		90		2,041
Steven Madden Ltd.^*		43		2,018
Pool Corp.		82		1,977
Matthews International Corp. — Class A		50		1,928
HSN, Inc.^*		60		1,922
Orient-Express Hotels Ltd. — Class A^*		152		1,880
Jones Group, Inc.		136		1,870
PF Chang’s China Bistro, Inc.		40		1,848
Buckle, Inc.		45		1,818
Pier 1 Imports, Inc.^*		176		1,786
OfficeMax, Inc.^*		137		1,773
Hibbett Sports, Inc.^*		49		1,755
Cabela’s, Inc.^*		70		1,751
Cinemark Holdings, Inc.		87		1,683
American Greetings Corp. — Class A		71		1,676
Regis Corp.		92		1,632
Bob Evans Farms, Inc.		50		1,630
Genesco, Inc.^*		40		1,608
National CineMedia, Inc.		86		1,606
DineEquity, Inc.^*		29		1,594
Finish Line, Inc. — Class A		78		1,548
Texas Roadhouse, Inc. — Class A		91		1,546
Group 1 Automotive, Inc.		36		1,541
Buffalo Wild Wings, Inc.^*		28		1,524
CEC Entertainment, Inc.		40		1,509
Capella Education Co.^*		30		1,494
99 Cents Only Stores^*		76		1,490
Scholastic Corp.		55		1,487
BJ’s Restaurants, Inc.^*		37		1,455
Ruby Tuesday, Inc.^*		110		1,442
Arbitron, Inc.		36		1,441
Helen of Troy Ltd.^*		49		1,441
Eastman Kodak Co.^*		439		1,418
K12, Inc.^*		42		1,415
Penske Automotive Group, Inc.^*		70		1,401
Monro Muffler Brake, Inc.		42		1,385
Exide Technologies^*		120		1,342
Pinnacle Entertainment, Inc.^*		97		1,321
G-III Apparel Group Ltd.^*		35		1,315
Blue Nile, Inc.^*		24		1,296
Belo Corp. — Class A^*		147		1,295
Modine Manufacturing Co.^*		80		1,291
Meritage Homes Corp.^*		53		1,279
Columbia Sportswear Co.		21		1,248
Cato Corp. — Class A		50		1,225
American Axle & Manufacturing Holdings, Inc.^*		97		1,221
Skechers U.S.A., Inc. — Class A^*		59		1,212
Stage Stores, Inc.		63		1,211
Domino’s Pizza, Inc.^*		64		1,180
Interval Leisure Group, Inc.^*		72		1,177
American Public Education, Inc.^*		29		1,173
PEP Boys-Manny Moe & Jack		92		1,169
Steiner Leisure Ltd.^*		25		1,157
Ryland Group, Inc.		70		1,113
RC2 Corp.^*		39		1,096
Select Comfort Corp.^*		90		1,085
Lumber Liquidators Holdings, Inc.^*		42		1,050
Sonic Automotive, Inc. — Class A		74		1,037
Maidenform Brands, Inc.^*		36		1,029
Superior Industries International, Inc.		40		1,026
Papa John’s International, Inc.^*		32		1,013
Stewart Enterprises, Inc. — Class A		132		1,008
Pre-Paid Legal Services, Inc.^*		15		990
Scientific Games Corp. — Class A^*		113		988
True Religion Apparel, Inc.^*		42		986
Vitamin Shoppe, Inc.^*		29		981
Ascent Media Corp. — Class A^*		20		977
Dorman Products, Inc.^*		23		968
Peet’s Coffee & Tea, Inc.^*		20		962
Shuffle Master, Inc.^*		90		961
DSW, Inc. — Class A^*		24		959
Quiksilver, Inc.^*		213		941
Asbury Automotive Group, Inc.^*		50		924
Sonic Corp.^*		102		923
iRobot Corp.^*		28		921
Ethan Allen Interiors, Inc.		42		920
Jakks Pacific, Inc.^*		47		909
Liz Claiborne, Inc.^*		163		879
Sinclair Broadcast Group, Inc. — Class A		69		865
Boyd Gaming Corp.^*		90		843
Charming Shoppes, Inc.^*		196		835
Brown Shoe Company, Inc.		68		831
Fred’s, Inc. — Class A		62		826
Oxford Industries, Inc.		24		821
La-Z-Boy, Inc. — Class Z^*		84		802
Core-Mark Holding Company, Inc.^*		24		793
National Presto Industries, Inc.		7		789
Drew Industries, Inc.		35		782
Callaway Golf Co.		114		777
Wet Seal, Inc. — Class A^*		176		753
Krispy Kreme Doughnuts, Inc.^*		103		725
Zumiez, Inc.^*		27		714
Sturm Ruger & Company, Inc.		31		712
Churchill Downs, Inc.		17		706
Talbots, Inc.^*		116		701
Red Robin Gourmet Burgers, Inc.^*		26		699
Grand Canyon Education, Inc.^*		48		696
Retail Ventures, Inc.^*		40		690
AFC Enterprises, Inc.^*		45		681
Denny’s Corp.^*		166		674
Corinthian Colleges, Inc.^*		152		672
Harte-Hanks, Inc.		56		666
Express, Inc.		34		664
Lions Gate Entertainment Corp.^*		106		662
Standard Pacific Corp.^*		177		660
Ameristar Casinos, Inc.		37		657
Winnebago Industries, Inc.^*		49		655
PetMed Express, Inc.		41		650
Lithia Motors, Inc. — Class A		43		627
Volcom, Inc.		33		611
Rue21, Inc.^*		21		605


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Universal Technical Institute, Inc.		31		603
Amerigon, Inc.^*		39		596
Knology, Inc.^*		46		594
California Pizza Kitchen, Inc.^*		35		591
Drugstore.com, Inc.^*		146		562
Shoe Carnival, Inc.^*		20		561
Libbey, Inc.^*		34		561
Beazer Homes USA, Inc.^*		121		553
NutriSystem, Inc.		38		551
Perry Ellis International, Inc.^*		20		550
Bridgepoint Education, Inc.^*		32		547
Barnes & Noble, Inc.		59		542
Rentrak Corp.^*		20		538
Fuel Systems Solutions, Inc.^*		17		513
Destination Maternity Corp.		22		508
K-Swiss, Inc. — Class A^*		44		496
EW Scripps Co. — Class A^*		50		495
Kirkland’s, Inc.^*		32		494
Lincoln Educational Services Corp.		31		493
Warner Music Group Corp.^*		72		487
Big 5 Sporting Goods Corp.		40		477
Universal Electronics, Inc.^*		16		473
Global Sources Ltd.^*		40		465
World Wrestling Entertainment, Inc. — Class A		36		453
Stein Mart, Inc.		44		445
Entercom Communications Corp. — Class A^*		40		441
Citi Trends, Inc.^*		19		424
Blyth, Inc.		13		422
Morgans Hotel Group Co.^*		43		421
Christopher & Banks Corp.		64		415
America’s Car-Mart, Inc.^*		16		412
Movado Group, Inc.^*		28		411
Stoneridge, Inc.^*		28		409
Journal Communications, Inc. — Class A^*		68		408
M/I Homes, Inc.^*		27		405
Pacific Sunwear of California, Inc.^*		112		404
Dex One Corp.^*		82		397
MarineMax, Inc.^*		40		394
Haverty Furniture Companies, Inc.		29		385
HOT Topic, Inc.		66		376
CKX, Inc.^*		88		371
Cavco Industries, Inc.^*		8		361
Standard Motor Products, Inc.		26		360
Furniture Brands International, Inc.^*		79		359
Spartan Motors, Inc.		52		357
Smith & Wesson Holding Corp.^*		100		355
Casual Male Retail Group, Inc.^*		71		349
McClatchy Co. — Class A^*		101		343
Fisher Communications, Inc.^*		11		342
Unifi, Inc.^*		20		340
Ambassadors Group, Inc.		30		328
Hovnanian Enterprises, Inc. — Class A^*		90		318
Marcus Corp.		29		316
Arctic Cat, Inc.^*		20		311
Bon-Ton Stores, Inc.		20		310
hhgregg, Inc.^*		22		295
Isle of Capri Casinos, Inc.^*		31		295
Steinway Musical Instruments, Inc.^*		13		289
Bebe Stores, Inc.		49		287
Multimedia Games, Inc.^*		50		287
Lifetime Brands, Inc.		19		285
New York & Company, Inc.^*		40		280
LIN TV Corp. — Class A^*		47		279
Media General, Inc. — Class A^*		40		275
Coldwater Creek, Inc.^*		104		275
Ruth’s Hospitality Group, Inc.^*		53		273
Audiovox Corp. — Class A^*		34		272
Systemax, Inc.^*		20		270
Leapfrog Enterprises, Inc. — Class A^*		62		268
Overstock.com, Inc.^*		17		267
CSS Industries, Inc.		14		264
Hooker Furniture Corp.		22		263
Mac-Gray Corp.		16		258
Speedway Motorsports, Inc.		16		256
Tuesday Morning Corp.^*		50		245
AH Belo Corp. — Class A^*		29		242
Winmark Corp.		5		231
Weyco Group, Inc.		9		220
Jamba, Inc.^*		100		220
Entravision Communications Corp. — Class A^*		79		214
Archipelago Learning, Inc.^*		25		214
CPI Corp.		9		203
ReachLocal, Inc.^*		10		200
West Marine, Inc.^*		19		198
Gaiam, Inc. — Class A		30		198
Sealy Corp.^*		77		196
Lee Enterprises, Inc.^*		72		194
Brookfield Homes Corp.^*		20		188
O’Charleys, Inc.^*		31		185
Lacrosse Footwear, Inc.		10		183
Kenneth Cole Productions, Inc. — Class A^*		14		182
Skyline Corp.		9		180
Kid Brands, Inc.^*		24		176
Summer Infant, Inc.^*		22		176
REX American Resources Corp.^*		11		176
Cumulus Media, Inc. — Class A^*		40		174
Nexstar Broadcasting Group, Inc. — Class A^*		20		173
Cherokee, Inc.		10		173
Gray Television, Inc.^*		82		170
Build-A-Bear Workshop, Inc. — Class A^*		28		169
Midas, Inc.^*		22		169
Red Lion Hotels Corp.^*		19		156
Johnson Outdoors, Inc. — Class A^*		10		152
Marine Products Corp.^*		19		151
Outdoor Channel Holdings, Inc.		20		149
Carrols Restaurant Group, Inc.^*		16		148
PRIMEDIA, Inc.		30		146
SuperMedia, Inc.^*		23		144
Ballantyne Strong, Inc.^*		20		143
Carmike Cinemas, Inc.^*		20		143
US Auto Parts Network, Inc.^*		16		139
Martha Stewart Living Omnimedia — Class A^*		37		137


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
McCormick & Schmick’s Seafood Restaurants, Inc.^*		19		137
1-800-Flowers.com, Inc. — Class A^*		41		135
LodgeNet Interactive Corp.^*		36		131
RG Barry Corp.		10		131
Caribou Coffee Company, Inc.^*		12		122
Einstein Noah Restaurant Group, Inc.		7		114
Orbitz Worldwide, Inc.^*		31		111
Crown Media Holdings, Inc. — Class A^*		45		104
Cambium Learning Group, Inc.^*		30		102
National American University Holdings, Inc.		14		99
Radio One, Inc. — Class D^*		50		97
Learning Tree International, Inc.		10		88
Delta Apparel, Inc.^*		6		86
Bluegreen Corp.^*		20		82
Shiloh Industries, Inc.		7		82
Joe’s Jeans, Inc.^*		73		77
Conn’s, Inc.^*		17		76
Beasley Broadcasting Group, Inc. — Class A^*		10		73
Westwood One, Inc.^*		10		73
Monarch Casino & Resort, Inc.^*		6		62
Culp, Inc.^*		6		56
Books-A-Million, Inc. — Class A		12		50
American Apparel, Inc.^*		50		48
Empire Resorts, Inc.^*		40		25
Princeton Review, Inc.^*		44		17
Vitacost.com, Inc.^{*,†††,1}		20		10

Total Consumer Discretionary				273,354

Health Care - 1.2%
AMERIGROUP Corp.^*		86		5,526
Pharmasset, Inc.^*		55		4,329
Healthsouth Corp.^*		155		3,872
Healthspring, Inc.^*		99		3,700
Dionex Corp.^*		31		3,660
Onyx Pharmaceuticals, Inc.^*		102		3,588
HMS Holdings Corp.^*		43		3,520
STERIS Corp.		101		3,489
Catalyst Health Solutions, Inc.^*		61		3,412
Owens & Minor, Inc.		102		3,313
InterMune, Inc.^*		67		3,162
Medicis Pharmaceutical Corp. — Class A		98		3,140
Salix Pharmaceuticals Ltd.^*		86		3,013
Sirona Dental Systems, Inc.^*		59		2,959
WellCare Health Plans, Inc.^*		70		2,937
Cepheid, Inc.^*		104		2,914
Masimo Corp.		87		2,880
Haemonetics Corp.^*		42		2,753
Centene Corp.^*		81		2,671
Magellan Health Services, Inc.^*		54		2,650
Bruker Corp.^*		125		2,606
Cubist Pharmaceuticals, Inc.^*		103		2,600
Impax Laboratories, Inc.^*		102		2,596
Viropharma, Inc.^*		128		2,547
Parexel International Corp.^*		102		2,540
American Medical Systems Holdings, Inc.^*		117		2,532
Chemed Corp.		38		2,531
Quality Systems, Inc.		30		2,500
Theravance, Inc.^*		102		2,470
PSS World Medical, Inc.^*		90		2,444
West Pharmaceutical Services, Inc.		54		2,418
Immucor, Inc.^*		121		2,393
Incyte Corporation Ltd.^*		143		2,267
athenahealth, Inc.^*		50		2,256
Seattle Genetics, Inc.^*		142		2,211
Alkermes, Inc.^*		159		2,059
Exelixis, Inc.^*		180		2,034
Align Technology, Inc.^*		99		2,028
Volcano Corp.^*		76		1,946
HeartWare International, Inc.^*		22		1,882
Par Pharmaceutical Companies, Inc.^*		60		1,865
Meridian Bioscience, Inc.		75		1,799
Zoll Medical Corp.^*		40		1,792
Amedisys, Inc.^*		51		1,785
Kindred Healthcare, Inc.^*		72		1,719
Neogen Corp.^*		41		1,697
NuVasive, Inc.^*		65		1,646
RehabCare Group, Inc.^*		44		1,622
Invacare Corp.		52		1,618
Integra LifeSciences Holdings Corp.^*		34		1,612
Cyberonics, Inc.^*		50		1,591
Nektar Therapeutics^*		163		1,544
Auxilium Pharmaceuticals, Inc.^*		71		1,524
Gentiva Health Services, Inc.^*		53		1,486
Air Methods Corp.^*		22		1,480
Arthrocare Corp.^*		44		1,467
Isis Pharmaceuticals, Inc.^*		162		1,464
MWI Veterinary Supply, Inc.^*		18		1,452
DexCom, Inc.^*		92		1,428
Acorda Therapeutics, Inc.^*		61		1,415
Computer Programs & Systems, Inc.		22		1,414
Medicines Co.^*		86		1,401
Ariad Pharmaceuticals, Inc.^*		182		1,369
Insulet Corp.^*		66		1,361
PDL BioPharma, Inc.		234		1,357
Amsurg Corp. — Class A^*		51		1,297
Questcor Pharmaceuticals, Inc.^*		90		1,297
CONMED Corp.^*		49		1,288
IPC The Hospitalist Company, Inc.^*		28		1,271
Landauer, Inc.		20		1,230
Savient Pharmaceuticals, Inc.^*		110		1,166
Universal American Corp.		50		1,146
Luminex Corp.^*		61		1,144
Orthofix International N.V.^*		35		1,136
Analogic Corp.		20		1,131
Celera Corp.^*		139		1,127
Molina Healthcare, Inc.^*		28		1,120
MedAssets, Inc.^*		72		1,099
Targacept, Inc.^*		41		1,090
Sunrise Senior Living, Inc.^*		91		1,086
Momenta Pharmaceuticals, Inc.^*		67		1,062
Greatbatch, Inc.^*		40		1,058
Medivation, Inc.^*		56		1,044
Merit Medical Systems, Inc.^*		53		1,040
Abaxis, Inc.^*		36		1,038
Immunogen, Inc.^*		114		1,034
NPS Pharmaceuticals, Inc.^*		108		1,034
Wright Medical Group, Inc.^*		60		1,021


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
LHC Group, Inc.^*		33		990
Hanger Orthopedic Group, Inc.^*		38		989
Depomed, Inc.^*		92		924
Healthways, Inc.^*		60		922
Bio-Reference Labs, Inc.^*		41		920
Enzon Pharmaceuticals, Inc.^*		84		916
MAKO Surgical Corp.^*		37		895
ICU Medical, Inc.^*		20		876
Medidata Solutions, Inc.^*		34		869
NxStage Medical, Inc.^*		39		857
Syneron Medical Ltd.^*		64		835
Geron Corp.^*		157		793
Conceptus, Inc.^*		54		780
Vivus, Inc.^*		126		780
Halozyme Therapeutics, Inc.^*		116		778
Natus Medical, Inc.^*		46		773
Emeritus Corp.^*		30		764
Micromet, Inc.^*		135		757
Accuray, Inc.^*		83		749
Assisted Living Concepts, Inc. — Class A^*		19		744
Sequenom, Inc.^*		116		734
ABIOMED, Inc.^*		50		727
Ensign Group, Inc.		22		702
Spectrum Pharmaceuticals, Inc.^*		79		702
Omnicell, Inc.^*		46		701
National Healthcare Corp.		15		697
Cytori Therapeutics, Inc.^*		85		666
Rigel Pharmaceuticals, Inc.^*		91		647
Neurocrine Biosciences, Inc.^*		84		638
Jazz Pharmaceuticals, Inc.^*		20		637
Angiodynamics, Inc.^*		42		635
Sun Healthcare Group, Inc.^*		45		633
Emergent Biosolutions, Inc.^*		26		628
Select Medical Holdings Corp.^*		77		621
Triple-S Management Corp. — Class B^*		30		617
SIGA Technologies, Inc.^*		51		617
Affymetrix, Inc.^*		117		610
PharMerica Corp.^*		53		606
OraSure Technologies, Inc.^*		77		605
Optimer Pharmaceuticals, Inc.^*		50		592
Alnylam Pharmaceuticals, Inc.^*		61		584
eResearchTechnology, Inc.^*		85		575
Sangamo Biosciences, Inc.^*		69		575
Symmetry Medical, Inc.^*		58		568
SonoSite, Inc.^*		17		566
Lexicon Pharmaceuticals, Inc.^*		337		566
Pain Therapeutics, Inc.		59		564
Accretive Health, Inc.^*		20		555
Opko Health, Inc.^*		148		552
Clinical Data, Inc.^*		18		545
Delcath Systems, Inc.^*		74		545
Ardea Biosciences, Inc.^*		19		545
AMN Healthcare Services, Inc.^*		62		537
Endologix, Inc.^*		77		522
Quidel Corp.^*		43		514
Rural/Metro Corp.^*		30		511
Durect Corp.^*		142		511
AVANIR Pharmaceuticals, Inc. — Class A^*		124		506
Akorn, Inc.^*		86		496
Palomar Medical Technologies, Inc.^*		33		490
Cantel Medical Corp.		19		489
Caliper Life Sciences, Inc.^*		72		487
AMAG Pharmaceuticals, Inc.^*		29		484
ZIOPHARM Oncology, Inc.^*		77		481
Transcend Services, Inc.^*		20		480
Arqule, Inc.^*		67		480
Metabolix, Inc.^*		45		473
Unilife Corp.^*		82		465
Exact Sciences Corp.^*		62		456
Team Health Holdings, Inc.^*		26		454
US Physical Therapy, Inc.		20		447
BioMimetic Therapeutics, Inc.^*		34		446
Synovis Life Technologies, Inc.^*		23		441
Capital Senior Living Corp.^*		41		435
Immunomedics, Inc.^*		110		420
Merge Healthcare, Inc.^*		86		420
Nabi Biopharmaceuticals^*		72		418
MannKind Corp.^*		112		409
Five Star Quality Care, Inc.^*		50		407
Pharmacyclics, Inc.^*		69		406
Cadence Pharmaceuticals, Inc.^*		44		405
Medcath Corp.^*		29		405
Skilled Healthcare Group, Inc. — Class A^*		28		403
Hi-Tech Pharmacal Company, Inc.^*		20		403
Novavax, Inc.^*		155		401
Keryx Biopharmaceuticals, Inc.^*		80		400
Allos Therapeutics, Inc.^*		126		399
Cross Country Healthcare, Inc.^*		51		399
Genomic Health, Inc.^*		16		394
Curis, Inc.^*		121		393
Inspire Pharmaceuticals, Inc.^*		99		392
MAP Pharmaceuticals, Inc.^*		28		386
TomoTherapy, Inc.^*		84		384
Obagi Medical Products, Inc.^*		29		367
Ironwood Pharmaceuticals, Inc. — Class A^*		26		364
Vical, Inc.^*		121		358
American Dental Partners, Inc.^*		27		354
Young Innovations, Inc.		11		345
AVI BioPharma, Inc.^*		182		340
Almost Family, Inc.^*		9		339
SurModics, Inc.^*		27		338
Dynavax Technologies Corp.^*		122		337
Vanda Pharmaceuticals, Inc.^*		46		335
Staar Surgical Co.^*		60		334
Providence Service Corp.^*		22		330
Biotime, Inc.^*		44		328
Vascular Solutions, Inc.^*		30		327
Corvel Corp.^*		6		319
Metropolitan Health Networks, Inc.^*		67		317
Solta Medical, Inc.^*		96		317
Santarus, Inc.^*		92		315
CryoLife, Inc.^*		51		311
Vital Images, Inc.^*		23		311
Chindex International, Inc.^*		19		305
BioScrip, Inc.^*		64		301
Inhibitex, Inc.^*		83		300
XenoPort, Inc.^*		50		297
Array Biopharma, Inc.^*		94		288


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Maxygen, Inc.		55		286
Progenics Pharmaceuticals, Inc.^*		46		284
SuperGen, Inc.^*		90		279
Zalicus, Inc.^*		112		271
IRIS International, Inc.^*		30		271
Ligand Pharmaceuticals, Inc. — Class B^*		27		270
Arena Pharmaceuticals, Inc.^*		193		268
Continucare Corp.^*		50		268
Cambrex Corp.^*		47		259
America Service Group, Inc.		10		256
Biospecifics Technologies Corp.^*		10		255
AVEO Pharmaceuticals, Inc.^*		19		254
Furiex Pharmaceuticals, Inc.^*		15		253
Dyax Corp.^*		157		253
Cynosure, Inc. — Class A^*		18		250
Sciclone Pharmaceuticals, Inc.^*		61		246
RTI Biologics, Inc.^*		86		246
Omeros Corp.^*		30		240
Biosante Pharmaceuticals, Inc.^*		121		240
LCA-Vision, Inc.^*		35		236
Chelsea Therapeutics International Ltd.^*		60		234
Rochester Medical Corp.^*		20		230
Enzo Biochem, Inc.^*		54		226
Orthovita, Inc.^*		106		226
Kensey Nash Corp.^*		9		224
Pozen, Inc.^*		41		220
Antares Pharma, Inc.^*		122		220
Spectranetics Corp.^*		46		217
Alliance HealthCare Services, Inc.^*		49		217
Synta Pharmaceuticals Corp.^*		41		216
Peregrine Pharmaceuticals, Inc.^*		91		215
Nymox Pharmaceutical Corp.^*		27		213
Celldex Therapeutics, Inc.^*		52		209
Alphatec Holdings, Inc.^*		76		205
Kendle International, Inc.^*		19		203
Osiris Therapeutics, Inc.^*		28		203
Codexis, Inc.^*		17		202
Stereotaxis, Inc.^*		52		201
Idenix Pharmaceuticals, Inc.^*		58		193
Albany Molecular Research, Inc.^*		45		192
CardioNet, Inc.^*		40		192
Corcept Therapeutics, Inc.^*		45		191
Cutera, Inc.^*		22		189
Allied Healthcare International, Inc.^*		74		188
StemCells, Inc.^*		202		184
Affymax, Inc.^*		31		182
Cerus Corp.^*		62		179
BioCryst Pharmaceuticals, Inc.^*		47		178
CytRx Corp.^*		180		158
Hansen Medical, Inc.^*		70		155
MELA Sciences, Inc.^*		42		148
Inovio Pharmaceuticals, Inc.^*		134		147
Neuralstem, Inc.^*		80		144
Somaxon Pharmaceuticals, Inc.^*		50		142
Orexigen Therapeutics, Inc.^*		48		135
Medical Action Industries, Inc.^*		16		134
Cytokinetics, Inc.^*		84		125
Alexza Pharmaceuticals, Inc.^*		69		117
Infinity Pharmaceuticals, Inc.^*		19		112
Lannett Company, Inc.^*		20		112
DynaVox, Inc. — Class A^*		20		110
Exactech, Inc.^*		6		105
Nanosphere, Inc.^*		32		104
Sucampo Pharmaceuticals, Inc. — Class A^*		22		92
PURE Bioscience, Inc.^*		57		89
Cumberland Pharmaceuticals, Inc.^*		16		88
Anthera Pharmaceuticals, Inc.^*		13		88
Aoxing Pharmaceutical Company, Inc.^*		40		86
Transcept Pharmaceuticals, Inc.^*		10		82
Caraco Pharmaceutical Laboratories Ltd.^*		14		73
NeurogesX, Inc.^*		17		69
Cornerstone Therapeutics, Inc.^*		10		66
Neostem, Inc.^*		38		65
Biodel, Inc.^*		29		61
Acura Pharmaceuticals, Inc.^*		19		60
Alimera Sciences, Inc.^*		7		55
AspenBio Pharma, Inc.^*		64		54
PDI, Inc.^*		6		49

Total Health Care				256,266

Energy - 0.6%
Brigham Exploration Co.^*		187		6,953
Dril-Quip, Inc.^*		63		4,979
Lufkin Industries, Inc.		53		4,954
World Fuel Services Corp.		107		4,345
Rosetta Resources, Inc.^*		90		4,279
CARBO Ceramics, Inc.		30		4,234
Complete Production Services, Inc.^*		133		4,231
Berry Petroleum Co. — Class A		80		4,036
Patriot Coal Corp.^*		133		3,435
Bill Barrett Corp.^*		85		3,392
Key Energy Services, Inc.^*		207		3,219
Bristow Group, Inc.^*		62		2,933
Helix Energy Solutions Group, Inc.^*		167		2,872
ION Geophysical Corp.^*		209		2,652
Energy XXI Bermuda Ltd.^*		77		2,626
McMoRan Exploration Co.^*		143		2,533
International Coal Group, Inc.^*		220		2,486
Swift Energy Co.^*		58		2,475
Stone Energy Corp.^*		69		2,303
Nordic American Tanker Shipping		83		2,062
Carrizo Oil & Gas, Inc.^*		55		2,031
Gulfmark Offshore, Inc. — Class A^*		45		2,003
RPC, Inc.		75		1,899
Northern Oil and Gas, Inc.^*		69		1,842
Tetra Technologies, Inc.^*		116		1,786
Kodiak Oil & Gas Corp.^*		260		1,742
Apco Oil and Gas International, Inc.		20		1,715
Global Industries Ltd.^*		171		1,674
Ship Finance International Ltd.		70		1,451
Petroleum Development Corp.^*		30		1,440
Golar LNG Ltd.		56		1,432
Western Refining, Inc.^*		84		1,424
Overseas Shipholding Group, Inc.		43		1,382
W&T Offshore, Inc.		60		1,367
Parker Drilling Co.^*		192		1,327
Gulfport Energy Corp.^*		36		1,301
Hercules Offshore, Inc.^*		196		1,296
Contango Oil & Gas Co.^*		20		1,265
Pioneer Drilling Co.^*		90		1,242


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Hornbeck Offshore Services, Inc.^*		40		1,234
ATP Oil & Gas Corp.^*		66		1,195
Newpark Resources, Inc.^*		147		1,155
Penn Virginia Corp.		67		1,136
Cal Dive International, Inc.^*		162		1,131
James River Coal Co.^*		46		1,112
Resolute Energy Corp.^*		61		1,107
Tesco Corp.^*		50		1,097
CVR Energy, Inc.^*		47		1,089
OYO Geospace Corp.^*		11		1,084
Clean Energy Fuels Corp.^*		66		1,081
Cloud Peak Energy, Inc.^*		50		1,079
Basic Energy Services, Inc.^*		40		1,020
Knightsbridge Tankers Ltd.		40		1,002
Goodrich Petroleum Corp.^*		41		911
Willbros Group, Inc.^*		81		885
BPZ Resources, Inc.^*		165		876
USEC, Inc.^*		193		849
Clayton Williams Energy, Inc.^*		8		846
Energy Partners Ltd.^*		46		828
Petroquest Energy, Inc.^*		88		824
Cheniere Energy, Inc.^*		86		801
Magnum Hunter Resources Corp.^*		93		797
Harvest Natural Resources, Inc.^*		52		792
TransAtlantic Petroleum Ltd.^*		242		750
Crosstex Energy, Inc.		70		696
Vaalco Energy, Inc.^*		84		652
Abraxas Petroleum Corp.^*		110		644
FX Energy, Inc.^*		75		627
Rex Energy Corp.^*		53		617
Dawson Geophysical Co.^*		14		614
Matrix Service Co.^*		44		612
Warren Resources, Inc.^*		117		596
Georesources, Inc.^*		19		594
Gulf Island Fabrication, Inc.		18		579
Approach Resources, Inc.^*		16		538
Teekay Tankers Ltd. — Class A		50		523
Venoco, Inc.^*		28		479
Vantage Drilling Co.^*		252		454
Rentech, Inc.^*		361		451
Houston American Energy Corp.		29		447
Panhandle Oil and Gas, Inc. — Class A		14		443
PHI, Inc.^*		20		442
Callon Petroleum Co.^*		54		420
Endeavour International Corp.^*		31		394
Uranium Energy Corp.^*		96		383
DHT Holdings, Inc.		77		370
Green Plains Renewable Energy, Inc.^*		29		349
Gastar Exploration Ltd.^*		69		335
GMX Resources, Inc.^*		53		327
Delek US Holdings, Inc.		24		325
Isramco, Inc.^*		5		325
Natural Gas Services Group, Inc.^*		17		302
Delta Petroleum Corp.^*		304		277
General Maritime Corp.		130		266
Syntroleum Corp.^*		107		242
Alon USA Energy, Inc.		14		192
RAM Energy Resources, Inc.^*		92		191
L&L Energy, Inc.^*		26		180
Scorpio Tankers, Inc.^*		16		165
Union Drilling, Inc.^*		16		164
Evolution Petroleum Corp.^*		19		148
Miller Petroleum, Inc.^*		29		145
Global Geophysical Services, Inc.^*		10		145
CAMAC Energy, Inc.^*		83		125
Hallador Energy Co.		7		81

Total Energy				141,158

Materials - 0.5%
Coeur d’Alene Mines Corp.^*		152		5,287
Solutia, Inc.^*		202		5,131
WR Grace & Co.^*		122		4,671
Rockwood Holdings, Inc.^*		91		4,479
Allied Nevada Gold Corp.^*		118		4,187
Rock-Tenn Co. — Class A		56		3,884
Hecla Mining Co.^*		422		3,832
Silgan Holdings, Inc.		91		3,471
Olin Corp.		131		3,003
Thompson Creek Metals Company, Inc.^*		234		2,934
Sensient Technologies Corp.		81		2,903
NewMarket Corp.		17		2,690
Ferro Corp.^*		140		2,323
Globe Specialty Metals, Inc.		101		2,299
Georgia Gulf Corp.^*		60		2,220
PolyOne Corp.		155		2,203
Louisiana-Pacific Corp.^*		209		2,194
Minerals Technologies, Inc.		30		2,056
Century Aluminum Co.^*		106		1,980
OM Group, Inc.^*		54		1,973
Worthington Industries, Inc.		93		1,946
Westlake Chemical Corp.		34		1,911
Innophos Holdings, Inc.		38		1,752
Balchem Corp.		46		1,726
Buckeye Technologies, Inc.		63		1,715
Arch Chemicals, Inc.		40		1,664
HB Fuller Co.		76		1,632
Clearwater Paper Corp.^*		20		1,628
Stillwater Mining Co.^*		68		1,559
Schweitzer-Mauduit International, Inc.		30		1,518
AMCOL International Corp.		41		1,475
RTI International Metals, Inc.^*		47		1,464
Calgon Carbon Corp.^*		91		1,445
Kaiser Aluminum Corp.		28		1,379
US Gold Corp.^*		154		1,360
Golden Star Resources Ltd.^*		431		1,280
Texas Industries, Inc.		28		1,266
Koppers Holdings, Inc.		29		1,238
Materion Corp.^*		30		1,224
Deltic Timber Corp.		18		1,203
Horsehead Holding Corp.^*		69		1,176
A. Schulman, Inc.		47		1,162
LSB Industries, Inc.^*		29		1,150
PH Glatfelter Co.		84		1,119
Haynes International, Inc.		20		1,109
Boise, Inc.		120		1,099
STR Holdings, Inc.^*		54		1,036
Graphic Packaging Holding Co.^*		188		1,019
Stepan Co.		14		1,015
KapStone Paper and Packaging Corp.^*		56		962
Quaker Chemical Corp.		22		884
Kraton Performance Polymers, Inc.^*		22		842


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Jaguar Mining, Inc.^*		143		746
Zep, Inc.		40		696
Zoltek Companies, Inc.^*		50		671
Olympic Steel, Inc.		20		656
Capital Gold Corp.^*		96		617
Myers Industries, Inc.		62		616
Headwaters, Inc.^*		104		614
Wausau Paper Corp.		80		611
General Moly, Inc.^*		112		603
Graham Packaging Company, Inc.^*		33		575
Omnova Solutions, Inc.^*		72		567
AM Castle & Co.^*		30		566
Universal Stainless & Alloy^*		12		405
TPC Group, Inc.^*		14		404
Neenah Paper, Inc.		17		373
Spartech Corp.^*		51		370
Senomyx, Inc.^*		58		350
Noranda Aluminum Holding Corp.^*		20		321
AEP Industries, Inc.^*		10		297
Metals USA Holdings Corp.^*		17		278
American Vanguard Corp.		30		260
Landec Corp.^*		40		260
Hawkins, Inc.		6		246
US Energy Corp.^*		39		244
KMG Chemicals, Inc.		10		197
NL Industries, Inc.		13		193
Verso Paper Corp.^*		17		91
United States Lime & Minerals, Inc.^*		1		41

Total Materials				118,546

Utilities - 0.3%
Nicor, Inc.		71		3,813
Piedmont Natural Gas Company, Inc.		120		3,642
Cleco Corp.		97		3,326
WGL Holdings, Inc.		82		3,198
IDACORP, Inc.		82		3,124
New Jersey Resources Corp.		70		3,007
South Jersey Industries, Inc.		53		2,966
Portland General Electric Co.		122		2,900
Southwest Gas Corp.		74		2,884
UIL Holdings Corp.		82		2,503
Unisource Energy Corp.		62		2,240
Avista Corp.		94		2,174
PNM Resources, Inc.		142		2,119
Black Hills Corp.		63		2,107
El Paso Electric Co.^*		69		2,098
Northwest Natural Gas Co.		40		1,845
Allete, Inc.		47		1,832
NorthWestern Corp.		60		1,818
MGE Energy, Inc.		40		1,620
Empire District Electric Co.		74		1,612
Laclede Group, Inc.		41		1,562
CH Energy Group, Inc.		28		1,415
Otter Tail Corp.		62		1,409
California Water Service Group		35		1,301
American States Water Co.		28		1,004
Dynegy, Inc. — Class A^*		170		967
Chesapeake Utilities Corp.		20		832
Central Vermont Public Service Corp.		25		582
Middlesex Water Co.		29		528
Unitil Corp.		16		377
SJW Corp.		16		370
Connecticut Water Service, Inc.		14		369
York Water Co.		20		348
Cadiz, Inc.^*		20		244
Consolidated Water Company Ltd.		19		207
Artesian Resources Corp. — Class A		8		156
American DG Energy, Inc.^*		30		65

Total Utilities				62,564

Consumer Staples - 0.3%
United Natural Foods, Inc.^*		78		3,496
TreeHouse Foods, Inc.^*		57		3,242
Ruddick Corp.		72		2,778
Casey’s General Stores, Inc.		60		2,340
Nu Skin Enterprises, Inc. — Class A		81		2,329
Diamond Foods, Inc.		40		2,232
Hain Celestial Group, Inc.^*		67		2,163
Darling International, Inc.^*		136		2,090
Fresh Del Monte Produce, Inc.		74		1,932
Sanderson Farms, Inc.		39		1,791
Universal Corp.		40		1,742
Lancaster Colony Corp.		26		1,576
B&G Foods, Inc. — Class A		82		1,539
Boston Beer Company, Inc. — Class A^*		15		1,389
Andersons, Inc.		28		1,364
WD-40 Co.		30		1,270
Tootsie Roll Industries, Inc.		43		1,227
Elizabeth Arden, Inc.^*		40		1,200
Vector Group Ltd.		68		1,176
Rite Aid Corp.^*		1,059		1,123
Pricesmart, Inc.		30		1,099
Chiquita Brands International, Inc.^*		71		1,089
Heckmann Corp.^*		147		963
J&J Snack Foods Corp.		20		941
Nash Finch Co.		24		911
Weis Markets, Inc.		22		890
Spectrum Brands Holdings, Inc.^*		31		861
Central Garden and Pet Co. — Class A^*		90		829
Coca-Cola Bottling Company Consolidated		12		802
Snyders-Lance, Inc.		40		794
Prestige Brands Holdings, Inc.^*		67		770
Dole Food Company, Inc.^*		56		763
Star Scientific, Inc.^*		159		722
Winn-Dixie Stores, Inc.^*		90		643
Pilgrim’s Pride Corp.^*		81		625
Pantry, Inc.^*		40		593
Spartan Stores, Inc.		40		592
Alliance One International, Inc.^*		147		591
Ingles Markets, Inc. — Class A		24		475
Cal-Maine Foods, Inc.		16		472
Smart Balance, Inc.^*		102		468
Seneca Foods Corp. — Class A^*		13		388
Arden Group, Inc. — Class A		5		382
Calavo Growers, Inc.		17		371
Medifast, Inc.^*		18		355
Imperial Sugar Co.		25		333
Synutra International, Inc.^*		28		322
Revlon, Inc. — Class A^*		20		317
National Beverage Corp.		22		302
Inter Parfums, Inc.		16		296
Alico, Inc.		11		294


Schedule of Investments		Domestic Equity Funds
March 31, 2011 (Unaudited)		Russell 2000^® 1.5x Strategy Fund


	Shares		Value
Nutraceutical International Corp.^*		19		285
USANA Health Sciences, Inc.^*		8		276
Limoneira Co.		10		237
Schiff Nutrition International, Inc.		24		219
MGP Ingredients, Inc.		25		218
Village Super Market, Inc. — Class A		6		175
John B. Sanfilippo & Son, Inc.^*		14		164
A Griffin Land & Nurseries, Inc.		5		161
Farmer Brothers Co.		13		158
Oil-Dri Corporation of America		7		149
Female Health Co.		27		135
Nature’s Sunshine Products, Inc.^*		14		125
Susser Holdings Corp.^*		8		105
Lifeway Foods, Inc.^*		10		104
Harbinger Group, Inc.^*		10		52

Total Consumer Staples				59,815

Telecommunication Services - 0.1%
AboveNet, Inc.		40		2,594
Cogent Communications Group, Inc.^*		67		956
NTELOS Holdings Corp.		50		921
Cincinnati Bell, Inc.^*		337		903
General Communication, Inc. — Class A^*		82		897
Consolidated Communications Holdings, Inc.		43		805
Vonage Holdings Corp.^*		172		784
Premiere Global Services, Inc.^*		101		770
Alaska Communications Systems Group, Inc.		71		756
Neutral Tandem, Inc.^*		50		737
Global Crossing Ltd.^*		52		724
Atlantic Tele-Network, Inc.		19		707
PAETEC Holding Corp.^*		209		698
Shenandoah Telecommunications Co.		38		686
USA Mobility, Inc.		40		580
IDT Corp. — Class B		20		539
Iridium Communications, Inc.^*		60		478
Cbeyond, Inc.^*		37		432
ICO Global Communications Holdings Ltd.^*		156		417
Hughes Communications, Inc.^*		6		358
FiberTower Corp.^*		85		171
Globalstar, Inc.^*		122		155

Total Telecommunication Services				16,068

Total Common Stocks (Cost $884,484)				2,058,021

WARRANT^†† - 0.0%
Consumer Discretionary - 0.0%
Krispy Kreme Doughnuts, Inc. $12.21, 03/02/12		52		9

Total Warrant (Cost $—)				9

RIGHTS^†† - 0%
Empire Resorts, Inc.,
Expires 07/25/11		40		—
(Cost $—)				—

CLOSED-END FUND^† - 0.0%
Kayne Anderson Energy Development Co.		24		469

(Cost $42)


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 13.6%
Federal Home Loan Bank² 0.05% due 04/25/11	$	3,000,000	$	2,999,890

Total Federal Agency Discount Notes (Cost $2,999,891)				2,999,890

REPURCHASE AGREEMENTS^††,3 - 71.4%
Credit Suisse Group issued 03/31/11 at 0.05% due 04/01/11⁴		5,906,956		5,906,956
BNP Paribas Securities Corp. issued 03/31/11 at 0.05% due 04/01/11		2,645,717		2,645,717
HSBC Group issued 03/31/11 at 0.07% due 04/01/11		2,383,383		2,383,383
Mizuho Financial Group, Inc. issued 03/31/11 at 0.06% due 04/01/11		2,383,383		2,383,383
Deutsche Bank issued 03/31/11 at 0.05% due 04/01/11		2,383,383		2,383,383

Total Repurchase Agreements (Cost $15,702,822)				15,702,822


Total Investments - 94.4% (Cost $19,587,239)			$	20,761,211
Cash & Other Assets, Less Liabilities - 5.6%				1,235,089

Total Net Assets - 100.0%			$	21,996,300


			Unrealized
	Contracts		Gain
FUTURE CONTRACTS PURCHASED^†
June 2011 Russell 2000 Index Mini Futures Contracts (Aggregate Value of Contracts $2,607,720)		31	$	82,628


	Units
EQUITY INDEX SWAP AGREEMENTS ^††
Goldman Sachs International April 2011 Russell 2000 Index Swap, Terminating 4/27/2011⁵ (Notional Value $17,527,496)		20,778	$	444,406
Credit Suisse Capital, LLC April 2011 Russell 2000 Index Swap, Terminating 4/28/2011⁵ (Notional Value $10,168,295)		12,054		217,934


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds Inverse Russell 2000^® Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 36.9%
Federal Home Loan Bank¹
0.05% due 04/25/11	$	700,000	$	699,974
Fannie Mae²
0.07% due 05/04/11		700,000		699,955

Total Federal Agency Discount Notes (Cost $1,399,929)				1,399,929

REPURCHASE AGREEMENTS^††,3 - 64.0%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11⁴		894,379		894,379
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		414,731		414,731
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		373,608		373,609
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		373,608		373,608
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		373,608		373,608

Total Repurchase Agreements (Cost $2,429,935)				2,429,935


Total Investments - 100.9% (Cost $3,829,864)			$	3,829,864
Liabilities, Less Cash & Other Assets — (0.9)%				(32,756	)

Total Net Assets - 100.0%			$	3,797,108


			Unrealized
	Contracts		Loss
FUTURES CONTRACTS SOLD SHORT^†
June 2011 Russell 2000 Index
Mini Futures Contracts (Aggregate Value of Contracts $1,009,440)		12	$	(28,802	)


			Unrealized
	Units		Loss
EQUITY INDEX SWAP AGREEMENTS SOLD SHORT^††
Morgan Stanley Capital Services, Inc.
April 2011 Russell 2000 Index Swap, Terminating 04/26/11⁵ (Notional Value $389,979)		462	$	(9,287	)
Goldman Sachs International
April 2011 Russell 2000 Index Swap, Terminating 04/27/11⁵ (Notional Value $418,191)		496		(11,114	)
Credit Suisse Capital, LLC
April 2011 Russell 2000 Index Swap, Terminating 04/28/11⁵ (Notional Value $2,009,878)		2,383		(48,217	)

(Total Notional Value $2,818,048)			$	(68,618	)


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

2		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

3		Repurchase Agreements — See Note 2.

4		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

5		Total Return based on Russell 2000 Index +/- financing at a variable rate.


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P SmallCap 600 Pure Growth Fund


	Shares		Value
COMMON STOCKS^† - 98.1%
Information Technology - 32.6%
Interactive Intelligence, Inc.^*		10,257	$	397,048
Synchronoss Technologies, Inc.^*		10,940		380,165
Sourcefire, Inc.^*		12,312		338,703
Netscout Systems, Inc.^*		11,644		318,114
CommVault Systems, Inc.^*		7,726		308,113
TriQuint Semiconductor, Inc.^*		23,235		299,964
RightNow Technologies, Inc.^*		9,561		299,259
Blue Coat Systems, Inc.^*		10,614		298,890
Ebix, Inc.^*		11,674		276,090
comScore, Inc.^*		9,227		272,289
Taleo Corp. — Class A^*		7,442		265,307
Wright Express Corp.^*		5,017		260,081
Kopin Corp.^*		53,767		246,791
Volterra Semiconductor Corp.^*		9,913		246,140
TTM Technologies, Inc.^*		13,172		239,204
Kulicke & Soffa Industries, Inc.^*		24,969		233,460
MicroStrategy, Inc. — Class A^*		1,708		229,692
Bottomline Technologies, Inc.^*		8,818		221,685
Diodes, Inc.^*		6,459		219,994
Ceva, Inc.^*		8,010		214,107
MAXIMUS, Inc.		2,634		213,802
Mercury Computer Systems, Inc.^*		9,232		195,349
Blackbaud, Inc.		7,109		193,649
Liquidity Services, Inc.^*		10,700		191,102
Cardtronics, Inc.^*		9,260		188,441
Tyler Technologies, Inc.^*		7,913		187,617
Radiant Systems, Inc.^*		9,793		173,336
Power Integrations, Inc.		4,320		165,586
Oplink Communications, Inc.^*		8,492		165,509
Perficient, Inc.^*		13,616		163,528
Stratasys, Inc.^*		3,404		159,988
OSI Systems, Inc.^*		3,863		144,978
Synaptics, Inc.^*		4,966		134,181
Smith Micro Software, Inc.^*		14,085		131,836
Novatel Wireless, Inc.^*		22,505		122,877
DTS, Inc.^*		2,540		118,440
Veeco Instruments, Inc.^*		2,329		118,406
j2 Global Communications, Inc.^*		4,002		118,099
CSG Systems International, Inc.^*		5,879		117,227
Websense, Inc.^*		4,965		114,046
Netgear, Inc.^*		3,512		113,929
JDA Software Group, Inc.^*		3,610		109,239
Hittite Microwave Corp.^*		1,710		109,047
Littelfuse, Inc.		1,870		106,777
DG FastChannel, Inc.^*		3,239		104,361
Monolithic Power Systems, Inc.^*		6,857		97,301
iGate Corp.		4,250		79,773
Forrester Research, Inc.		1,998		76,503
Stamps.com, Inc.		5,669		75,681
Viasat, Inc.^*		1,671		66,573
Global Payments, Inc.		1		49

Total Information Technology				9,622,326

Consumer Discretionary - 25.2%
Sturm Ruger & Company, Inc.		18,718		429,952
Jos A. Bank Clothiers, Inc.^*		6,483		329,855
BJ’s Restaurants, Inc.^*		7,719		303,588
DineEquity, Inc.^*		5,305		291,669
CROCS, Inc.^*		15,253		272,114
Texas Roadhouse, Inc. — Class A		16,014		272,078
Buffalo Wild Wings, Inc.^*		4,654		253,317
Lumber Liquidators Holdings, Inc.^*		10,066		251,549
Iconix Brand Group, Inc.^*		11,492		246,848
Cabela’s, Inc.^*		9,257		231,518
Buckle, Inc.		5,586		225,674
Coinstar, Inc.^*		4,877		223,952
Steven Madden Ltd.^*		4,758		223,293
Kirkland’s, Inc.^*		14,421		222,660
Interval Leisure Group, Inc.^*		13,347		218,223
True Religion Apparel, Inc.^*		8,840		207,475
Zumiez, Inc.^*		7,396		195,476
PF Chang’s China Bistro, Inc.		4,225		195,153
Peet’s Coffee & Tea, Inc.^*		3,896		187,359
CEC Entertainment, Inc.		4,700		177,331
Maidenform Brands, Inc.^*		6,204		177,248
Monro Muffler Brake, Inc.		5,353		176,542
HSN, Inc.^*		5,348		171,296
National Presto Industries, Inc.		1,437		161,921
Arbitron, Inc.		3,972		158,999
Cracker Barrel Old Country Store, Inc.		3,069		150,811
Hibbett Sports, Inc.^*		4,188		149,972
Biglari Holdings, Inc.^*		351		148,666
Kid Brands, Inc.^*		19,688		144,707
California Pizza Kitchen, Inc.^*		8,490		143,311
Blue Nile, Inc.^*		2,479		133,841
American Public Education, Inc.^*		3,110		125,800
Pre-Paid Legal Services, Inc.^*		1,815		119,790
Universal Electronics, Inc.^*		3,537		104,554
Volcom, Inc.		5,297		98,153
Capella Education Co.^*		1,950		97,091
PetMed Express, Inc.		5,963		94,573
Universal Technical Institute, Inc.		3,508		68,231
Carter’s, Inc.^*		2,350		67,281

Total Consumer Discretionary				7,451,871

Health Care - 20.7%
Air Methods Corp.^*		5,095		342,639
MWI Veterinary Supply, Inc.^*		3,942		318,041
Hi-Tech Pharmacal Company, Inc.^*		15,014		302,232
Regeneron Pharmaceuticals, Inc.^*		6,572		295,346
Arqule, Inc.^*		36,691		262,708
HMS Holdings Corp.^*		3,180		260,283
Quality Systems, Inc.		3,101		258,437
Healthspring, Inc.^*		6,888		257,405
IPC The Hospitalist Company, Inc.^*		5,605		254,523
Par Pharmaceutical Companies, Inc.^*		8,069		250,784
Catalyst Health Solutions, Inc.^*		4,145		231,830
Neogen Corp.^*		5,247		217,121
American Medical Systems Holdings, Inc.^*		10,010		216,616
Align Technology, Inc.^*		9,920		203,162
Questcor Pharmaceuticals, Inc.^*		13,955		201,092
Parexel International Corp.^*		7,660		190,734
Ensign Group, Inc.		5,832		186,216
Corvel Corp.^*		3,190		169,644
Cubist Pharmaceuticals, Inc.^*		6,131		154,746


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P SmallCap 600 Pure Growth Fund


	Shares		Value
COMMON STOCKS^† - 98.1% (continued)
Health Care - 20.7% (continued)
Cyberonics, Inc.^*		4,850	$	154,278
Bio-Reference Labs, Inc.^*		6,862		153,983
Dionex Corp.^*		1,255		148,153
Integra LifeSciences Holdings Corp.^*		3,115		147,713
Almost Family, Inc.^*		3,749		141,112
Abaxis, Inc.^*		4,678		134,914
Salix Pharmaceuticals Ltd.^*		3,616		126,668
Viropharma, Inc.^*		6,040		120,196
Chemed Corp.		1,510		100,581
Haemonetics Corp.^*		1,380		90,445
Zoll Medical Corp.^*		1,948		87,290
Kensey Nash Corp.^*		3,374		84,046
Enzo Biochem, Inc.^*		14,556		60,990

Total Health Care				6,123,928

Industrials - 4.9%
Dolan Co.^*		23,588		286,358
Consolidated Graphics, Inc.^*		3,450		188,473
Triumph Group, Inc.		1,963		173,627
Vicor Corp.		8,724		143,859
American Science & Engineering, Inc.		1,410		130,228
II-VI, Inc.^*		2,492		123,977
Allegiant Travel Co. - Class A		2,822		123,632
Exponent, Inc.^*		2,630		117,324
Orion Marine Group, Inc.^*		9,362		100,548
Healthcare Services Group, Inc.		4,232		74,399

Total Industrials				1,462,425

Financials - 4.5%
World Acceptance Corp.^*		4,751		309,765
Ezcorp, Inc. - Class A^*		6,309		198,040
Portfolio Recovery Associates, Inc.^*		2,273		193,501
Cash America International, Inc.		3,995		183,970
First Cash Financial Services, Inc.^*		4,684		180,802
Stifel Financial Corp.^*		1,674		120,176
Signature Bank ^*		1,246		70,274
eHealth, Inc.^*		5,127		68,189

Total Financials				1,324,717

Materials - 3.4%
Buckeye Technologies, Inc.		9,704		264,240
KapStone Paper and Packaging Corp.^*		13,747		236,036
Balchem Corp.		5,682		213,189
Schweitzer-Mauduit International, Inc.		3,587		181,538
Quaker Chemical Corp.		2,546		102,273

Total Materials				997,276

Consumer Staples - 3.3%
Medifast, Inc.^*		11,388		224,913
TreeHouse Foods, Inc.^*		3,756		213,604
Boston Beer Company, Inc. - Class A^*		2,305		213,489
Darling International, Inc.^*		13,137		201,916
Calavo Growers, Inc.		5,846		127,735

Total Consumer Staples				981,657

Energy - 2.4%
Gulfport Energy Corp.^*		8,449		305,431
Contango Oil & Gas Co.^*		2,464		155,823
Oil States International, Inc.^*		1,683		128,144
CARBO Ceramics, Inc.		800		112,896

Total Energy				702,294

Telecommunication Services - 1.1%
Neutral Tandem, Inc.^*		9,310		137,322
Atlantic Tele-Network, Inc.		3,004		111,719
Cbeyond, Inc.^*		5,742		67,009

Total Telecommunication Services				316,050

Total Common Stocks (Cost $23,141,283)				28,982,544


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.6%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	196,213	$	196,213

Total Repurchase Agreement (Cost $196,213)				196,213


Total Investments - 98.7% (Cost $23,337,496)			$	29,178,757
Cash & Other Assets, Less Liabilities - 1.3%				370,594

Total Net Assets - 100.0%			$	29,549,351


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P MidCap 400 Pure Growth Fund


	Shares		Value
COMMON STOCKS^† - 99.5%
Consumer Discretionary - 31.0%
Chipotle Mexican Grill, Inc. — Class A^*		4,421	$	1,204,148
Deckers Outdoor Corp.^*		13,826		1,191,110
Ascena Retail Group, Inc.^*		32,048		1,038,676
Fossil, Inc.^*		10,804		1,011,795
Guess?, Inc.		23,362		919,295
Aeropostale, Inc.^*		37,497		911,927
Cheesecake Factory, Inc.^*		30,102		905,769
Under Armour, Inc. — Class A^*		13,189		897,511
Panera Bread Co. — Class A^*		6,765		859,155
Tractor Supply Co.		12,988		777,462
LKQ Corp.^*		30,309		730,447
Life Time Fitness, Inc.^*		18,389		686,094
Phillips-Van Heusen Corp.		9,718		631,962
Dick’s Sporting Goods, Inc.^*		15,300		611,694
Chico’s FAS, Inc.		38,058		567,064
Dollar Tree, Inc.^*		9,717		539,488
Warnaco Group, Inc.^*		9,342		534,269
PetSmart, Inc.		12,457		510,114
Polaris Industries, Inc.		5,855		509,502
Tupperware Brands Corp.		8,424		502,997
DreamWorks Animation SKG, Inc. — Class A^*		17,140		478,720
Williams-Sonoma, Inc.		11,024		446,472
ITT Educational Services, Inc.^*		6,141		443,073
Advance Auto Parts, Inc.		6,382		418,787
ANN, Inc.^*		13,018		378,954
Bally Technologies, Inc.^*		7,020		265,707
Strayer Education, Inc.		1,831		238,927
Lamar Advertising Co. — Class A^*		5,927		218,943
Gentex Corp.		7,154		216,408
WMS Industries, Inc.^*		5,430		191,950

Total Consumer Discretionary				18,838,420

Information Technology - 27.6%
Rackspace Hosting, Inc.^*		34,732		1,488,266
Riverbed Technology, Inc.^*		30,185		1,136,465
TIBCO Software, Inc.^*		36,148		985,033
Informatica Corp.^*		18,852		984,640
Skyworks Solutions, Inc.^*		29,863		968,158
Cree, Inc.^*		15,610		720,558
Advent Software, Inc.^*		22,960		658,263
Polycom, Inc.^*		12,548		650,614
Equinix, Inc.^*		6,884		627,132
Concur Technologies, Inc.^*		10,759		596,587
ANSYS, Inc.^*		10,730		581,459
Factset Research Systems, Inc.		5,490		574,968
Lender Processing Services, Inc.		16,579		533,678
Solera Holdings, Inc.		10,280		525,308
Gartner, Inc.^*		11,586		482,789
MICROS Systems, Inc.^*		9,438		466,520
Rovi Corp.^*		8,648		463,965
ADTRAN, Inc.		9,772		414,919
Atmel Corp.^*		28,908		394,016
Semtech Corp.^*		15,544		388,911
Alliance Data Systems Corp.^*		4,332		372,075
Global Payments, Inc.		7,295		356,871
Quest Software, Inc.^*		13,890		352,667
Digital River, Inc.^*		8,350		312,541
Jack Henry & Associates, Inc.		8,092		274,238
Silicon Laboratories, Inc.^*		6,179		266,995
NeuStar, Inc. — Class A^*		10,000		255,800
QLogic Corp.^*		13,690		253,949
ACI Worldwide, Inc.^*		7,355		241,244
Zebra Technologies Corp. — Class A^*		5,558		218,096
RF Micro Devices, Inc.^*		28,404		182,070

Total Information Technology				16,728,795

Health Care - 16.2%
Medicis Pharmaceutical Corp. — Class A		29,640		949,666
Allscripts Healthcare Solutions, Inc.^*		40,852		857,483
Cooper Companies, Inc.		12,300		854,235
United Therapeutics Corp.^*		10,790		723,146
Health Management Associates, Inc. — Class A^*		63,150		688,335
Perrigo Co.		8,450		671,944
Mednax, Inc.^*		10,087		671,895
IDEXX Laboratories, Inc.^*		8,066		622,856
Endo Pharmaceuticals Holdings, Inc.^*		15,944		608,423
Kinetic Concepts, Inc.^*		11,119		605,096
Universal Health Services, Inc. — Class B		11,962		591,042
ResMed, Inc.^*		15,925		477,750
Lincare Holdings, Inc.		15,598		462,637
Gen-Probe, Inc.^*		5,960		395,446
Thoratec Corp.^*		13,677		354,645
Mettler-Toledo International, Inc.^*		1,751		301,172

Total Health Care				9,835,771

Energy - 5.5%
Atwood Oceanics, Inc.^*		17,822		827,475
Oceaneering International, Inc.^*		9,072		811,490
Dril-Quip, Inc.^*		8,855		699,811
Northern Oil and Gas, Inc.^*		19,960		532,932
Bill Barrett Corp.^*		11,583		462,278

Total Energy				3,333,986

Materials - 5.1%
NewMarket Corp.		7,410		1,172,410
Lubrizol Corp.		5,495		736,110
Intrepid Potash, Inc.^*		16,540		575,923
Compass Minerals International, Inc.		4,343		406,201
Albemarle Corp.		3,792		226,648

Total Materials				3,117,292

Industrials - 4.6%
Bucyrus International, Inc. — Class A		12,461		1,139,558
BE Aerospace, Inc.^*		21,609		767,768
Copart, Inc.^*		9,340		404,702
Woodward, Inc.		8,080		279,245
Rollins, Inc.		10,640		215,992

Total Industrials				2,807,265

Financials - 4.4%
SL Green Realty Corp.		9,291		698,683


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P MidCap 400 Pure Growth Fund


	Shares		Value
COMMON STOCKS^† - 99.5% (continued)
Financials - 4.4% (continued)
Jones Lang LaSalle, Inc.		4,709	$	469,676
Macerich Co.		9,382		464,691
Waddell & Reed Financial, Inc. - Class A		9,205		373,815
Corporate Office Properties Trust		10,038		362,773
MSCI, Inc. - Class A^*		7,898		290,804

Total Financials				2,660,442

Consumer Staples - 4.2%
Green Mountain Coffee Roasters, Inc.^*		28,472		1,839,576
Hansen Natural Corp.^*		11,748		707,582

Total Consumer Staples				2,547,158

Telecommunication Services - 0.9%
tw telecom, Inc. - Class A^*		27,625		530,400



Total Common Stocks (Cost $46,085,048)				60,399,529

WARRANT^†† - 0.0%
Consumer Discretionary - 0.0%
Krispy Kreme Doughnuts, Inc.
$12.21, 03/02/12		6		1



Total Warrant (Cost $—)				1


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	314,424	$	314,424

Total Repurchase Agreement (Cost $314,424)				314,424


Total Investments - 100.0% (Cost $46,399,472)			$	60,713,954
Liabilities, Less Cash & Other Assets - 0.0%				(11,412	)

Total Net Assets - 100.0%			$	60,702,542


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P 500 Pure Growth Fund


	Shares		Value
COMMON STOCKS^† - 99.6%
Information Technology - 28.5%
Cognizant Technology Solutions Corp. — Class A^*		11,523	$	937,972
Apple, Inc.^*		2,487		866,595
Western Digital Corp.^*		22,286		831,045
Micron Technology, Inc.^*		68,490		784,895
Red Hat, Inc.^*		16,541		750,796
Salesforce.com, Inc.^*		5,314		709,844
NetApp, Inc.^*		13,454		648,214
Juniper Networks, Inc.^*		14,428		607,130
F5 Networks, Inc.^*		5,800		594,906
JDS Uniphase Corp.^*		27,063		563,993
Akamai Technologies, Inc.^*		14,821		563,198
eBay, Inc.^*		18,126		562,631
Teradata Corp.^*		10,123		513,236
Citrix Systems, Inc.^*		6,432		472,495
Google, Inc. — Class A^*		717		420,313
Oracle Corp.		12,570		419,461
Visa, Inc. — Class A		5,670		417,425
Broadcom Corp. — Class A		10,564		416,010
Mastercard, Inc. — Class A		1,650		415,338
EMC Corp.^*		15,359		407,781
Intuit, Inc.^*		7,388		392,303
SanDisk Corp.^*		8,396		386,972
FLIR Systems, Inc.		9,598		332,187
BMC Software, Inc.^*		6,204		308,587
Advanced Micro Devices, Inc.^*		34,600		297,560
Altera Corp.		6,729		296,211
Analog Devices, Inc.		6,716		264,476
Amphenol Corp. — Class A		4,732		257,374
Linear Technology Corp.		7,151		240,488
Symantec Corp.^*		12,737		236,144
International Business Machines Corp.		1,405		229,113
Xilinx, Inc.		5,524		181,187
Microsoft Corp.		6,447		163,496

Total Information Technology				15,489,376

Consumer Discretionary - 28.1%
Netflix, Inc.^*		4,280		1,015,772
Priceline.com, Inc.^*		1,967		996,167
Amazon.com, Inc.^*		4,559		821,213
Coach, Inc.		13,361		695,306
Discovery Communications, Inc. — Class A^*		16,179		645,542
Wynn Resorts Ltd.		5,072		645,412
AutoZone, Inc.^*		2,309		631,650
Expedia, Inc.		25,630		580,776
Starbucks Corp.		15,627		577,418
Ross Stores, Inc.		7,980		567,538
Nordstrom, Inc.		11,828		530,841
O’Reilly Automotive, Inc.^*		9,144		525,414
DIRECTV — Class A^*		11,070		518,076
Wyndham Worldwide Corp.		14,950		475,560
Darden Restaurants, Inc.		8,885		436,520
Tiffany & Co.		6,920		425,165
Limited Brands, Inc.		12,470		410,014
Polo Ralph Lauren Corp. — Class A		3,209		396,793
Hasbro, Inc.		8,326		389,990
CarMax, Inc.^*		11,689		375,217
Cablevision Systems Corp. — Class A		10,720		371,019
Urban Outfitters, Inc.^*		12,109		361,211
DeVry, Inc.		6,540		360,158
Comcast Corp. — Class A		14,146		349,689
TJX Companies, Inc.		6,436		320,062
Bed Bath & Beyond, Inc.^*		6,560		316,651
Yum! Brands, Inc.		5,437		279,353
Apollo Group, Inc. — Class A^*		6,188		258,101
Family Dollar Stores, Inc.		4,650		238,638
Interpublic Group of Companies, Inc.		18,900		237,573
Starwood Hotels & Resorts Worldwide, Inc.		3,676		213,649
Scripps Networks Interactive, Inc. — Class A		2,840		142,256
NIKE, Inc. — Class B		1,700		128,690

Total Consumer Discretionary				15,237,434

Health Care - 16.8%
Tenet Healthcare Corp.^*		126,713		944,012
CIGNA Corp.		15,606		691,034
Intuitive Surgical, Inc.^*		1,873		624,571
Watson Pharmaceuticals, Inc.^*		9,355		523,974
Mylan, Inc.^*		22,030		499,420
Edwards Lifesciences Corp.^*		5,400		469,800
Biogen Idec, Inc.^*		6,348		465,880
Life Technologies Corp.^*		8,806		461,610
Gilead Sciences, Inc.^*		9,373		397,790
Express Scripts, Inc. — Class A^*		6,673		371,085
Cerner Corp.^*		3,305		367,516
Allergan, Inc.		5,107		362,699
St. Jude Medical, Inc.		7,000		358,820
Medco Health Solutions, Inc.^*		6,165		346,226
Hospira, Inc.^*		6,168		340,474
Celgene Corp.^*		5,613		322,916
Laboratory Corporation of America Holdings^*		3,307		304,674
Varian Medical Systems, Inc.^*		3,944		266,772
Waters Corp.^*		3,008		261,395
Patterson Companies, Inc.		7,220		232,412
Agilent Technologies, Inc.^*		3,955		177,105
Genzyme Corp.^*		2,183		166,235
Eli Lilly & Co.		4,560		160,375

Total Health Care				9,116,795

Energy - 7.5%
Massey Energy Co.		9,249		632,262
National Oilwell Varco, Inc.		7,859		622,983
FMC Technologies, Inc.^*		5,983		565,274
Pioneer Natural Resources Co.		5,126		522,442
Cameron International Corp.^*		8,932		510,017
Diamond Offshore Drilling, Inc.		4,990		387,723
Peabody Energy Corp.		4,442		319,646
Southwestern Energy Co.^*		6,674		286,782
Consol Energy, Inc.		3,759		201,595

Total Energy				4,048,724

Industrials - 7.0%
Joy Global, Inc.		8,070		797,397
Flowserve Corp.		3,909		503,479


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P 500 Pure Growth Fund


	Shares		Value
COMMON STOCKS^† - 99.6% (continued)
Industrials - 7.0% (continued)
First Solar, Inc.^*		2,547	$	409,659
Cummins, Inc.		3,098		339,603
Stericycle, Inc.^*		3,693		327,458
Goodrich Corp.		3,569		305,257
Ingersoll-Rand plc		5,752		277,879
Deere & Co.		2,812		272,455
WW Grainger, Inc.		1,624		223,592
Rockwell Automation, Inc.		2,317		219,304
Precision Castparts Corp.		1,028		151,301

Total Industrials				3,827,384

Materials - 4.2%
CF Industries Holdings, Inc.		4,545		621,711
Freeport-McMoRan Copper & Gold, Inc. - Class B		9,306		516,948
Newmont Mining Co.		5,192		283,379
FMC Corp.		2,920		247,996
International Flavors & Fragrances, Inc.		3,592		223,782
Ball Corp.		6,037		216,426
Sigma-Aldrich Corp.		2,555		162,600

Total Materials				2,272,842

Consumer Staples - 3.6%
Whole Foods Market, Inc.		10,206		672,575
Coca-Cola Enterprises, Inc.		15,920		434,616
Estee Lauder Companies, Inc. - Class A		4,340		418,203
Dr Pepper Snapple Group, Inc.		7,008		260,417
Coca-Cola Co.		2,350		155,923

Total Consumer Staples				1,941,734

Financials - 2.7%
Ventas, Inc.		8,866		481,424
IntercontinentalExchange, Inc.^*		3,369		416,206
Ameriprise Financial, Inc.		4,833		295,200
CB Richard Ellis Group, Inc. - Class A^*		10,792		288,146

Total Financials				1,480,976

Telecommunication Services - 1.2%
MetroPCS Communications, Inc.^*		20,435		331,864
American Tower Corp. - Class A^*		6,157		319,056

Total Telecommunication Services				650,920

Total Common Stocks (Cost $43,025,097)				54,066,185


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	269,105	$	269,105

Total Repurchase Agreement (Cost $269,105)				269,105


Total Investments - 100.1% (Cost $43,294,202)			$	54,335,290
Liabilities, Less Cash & Other Assets - (0.1)%				(79,982	)

Total Net Assets - 100.0%			$	54,255,308


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

plc		Public Limited Company


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P SmallCap 600 Pure Value Fund


	Shares		Value
COMMON STOCKS^† - 99.1%
Consumer Discretionary - 24.1%
Audiovox Corp. — Class A^*		36,738	$	293,904
Corinthian Colleges, Inc.^*		61,620		272,360
Red Robin Gourmet Burgers, Inc.^*		8,471		227,870
MarineMax, Inc.^*		19,891		196,125
La-Z-Boy, Inc.^*		20,274		193,617
Lithia Motors, Inc. — Class A		13,278		193,593
Spartan Motors, Inc.		27,266		187,045
Tuesday Morning Corp.^*		37,870		185,563
Standard Pacific Corp.^*		49,089		183,102
Group 1 Automotive, Inc.		4,042		172,998
O’Charleys, Inc.^*		28,954		172,855
Sonic Automotive, Inc. — Class A		11,801		165,332
Fred’s, Inc. — Class A		12,142		161,732
Christopher & Banks Corp.		23,158		150,064
Stage Stores, Inc.		7,631		146,668
HOT Topic, Inc.		25,426		144,928
Standard Motor Products, Inc.		9,474		131,025
Zale Corp.^*		31,359		125,122
Stein Mart, Inc.		12,248		123,827
Brown Shoe Company, Inc.		9,773		119,426
Callaway Golf Co.		17,506		119,391
PEP Boys-Manny Moe & Jack		9,182		116,703
Haverty Furniture Companies, Inc.		8,088		107,247
Quiksilver, Inc.^*		21,729		96,042
Blyth, Inc.		2,605		84,637
Ruth’s Hospitality Group, Inc.^*		16,332		84,273
Jack in the Box, Inc.^*		3,109		70,512
Live Nation Entertainment, Inc.^*		6,970		69,700
Coldwater Creek, Inc.^*		25,705		67,861
Helen of Troy Ltd.^*		2,226		65,444
OfficeMax, Inc.^*		5,005		64,765
Multimedia Games, Inc.^*		10,630		60,910
Ruby Tuesday, Inc.^*		3,925		51,457
Skechers U.S.A., Inc. — Class A^*		2,190		44,983
Marcus Corp.		3,200		34,880

Total Consumer Discretionary				4,685,961

Industrials - 17.5%
School Specialty, Inc.^*		22,087		315,844
Skywest, Inc.		14,915		252,362
SFN Group, Inc.^*		14,917		210,180
EMCOR Group, Inc.^*		5,506		170,521
Apogee Enterprises, Inc.		12,729		167,895
Comfort Systems USA, Inc.		10,823		152,280
Gibraltar Industries, Inc.^*		12,702		151,535
Federal Signal Corp.		23,175		150,869
Navigant Consulting, Inc.^*		14,410		143,956
Universal Forest Products, Inc.		3,799		139,233
United Stationers, Inc.		1,896		134,711
ABM Industries, Inc.		4,840		122,888
Briggs & Stratton Corp.		5,284		119,683
Lydall, Inc.^*		12,130		107,836
Kelly Services, Inc. — Class A^*		4,908		106,553
G&K Services, Inc. — Class A		3,120		103,740
Griffon Corp.^*		7,684		100,891
On Assignment, Inc.^*		10,145		95,972
Dycom Industries, Inc.^*		5,199		90,151
Powell Industries, Inc.^*		2,072		81,720
Lawson Products, Inc.		3,514		80,962
CDI Corp.		5,062		74,867
GenCorp, Inc.^*		12,340		73,793
AAR Corp.^*		2,245		62,231
Standard Register Co.		18,089		60,055
Standex International Corp.		1,532		58,047
Curtiss-Wright Corp.		1,650		57,981

Total Industrials				3,386,756

Financials - 15.3%
SWS Group, Inc.		49,582		300,963
Wilmington Trust Corp.		43,975		198,767
Piper Jaffray Companies, Inc.^*		3,989		165,264
Investment Technology Group, Inc.^*		7,406		134,715
Stewart Information Services Corp.		12,597		132,017
Susquehanna Bancshares, Inc.		14,034		131,218
Wintrust Financial Corp.		3,514		129,140
Hanmi Financial Corp.^*		100,671		124,832
Selective Insurance Group, Inc.		6,986		120,858
United Community Banks, Inc.^*		50,071		118,668
Horace Mann Educators Corp.		7,014		117,835
Bank Mutual Corp.		25,473		107,751
First BanCorp^*		21,252		106,260
Presidential Life Corp.		11,075		105,545
Delphi Financial Group, Inc. — Class A		2,981		91,547
Whitney Holding Corp.		6,037		82,224
First Midwest Bancorp, Inc.		6,631		78,179
Pinnacle Financial Partners, Inc.^*		4,132		68,343
Navigators Group, Inc.^*		1,295		66,692
AMERISAFE, Inc.^*		2,929		64,760
United Fire & Casualty Co.		3,142		63,500
Interactive Brokers Group, Inc. — Class A		3,807		60,493
Infinity Property & Casualty Corp.		1,001		59,549
Boston Private Financial Holdings, Inc.		7,712		54,524
Prospect Capital Corp.		4,210		51,404
Cedar Shopping Centers, Inc.		8,285		49,959
PrivateBancorp, Inc. — Class A		3,246		49,631
Safety Insurance Group, Inc.		1,072		49,430
Kite Realty Group Trust		8,709		46,245
Wilshire Bancorp, Inc.		9,382		45,972

Total Financials				2,976,285

Information Technology - 15.2%
Ciber, Inc.^*		72,618		486,541
StarTek, Inc.^*		61,595		310,439
Agilysys, Inc.^*		50,266		288,527
Insight Enterprises, Inc.^*		12,678		215,906
SYNNEX Corp.^*		6,282		205,610
Brightpoint, Inc.^*		14,176		153,668
Benchmark Electronics, Inc.^*		7,439		141,118
Scansource, Inc.^*		3,657		138,929
Brooks Automation, Inc.^*		8,853		121,552
Gerber Scientific, Inc.^*		12,750		119,340
CACI International, Inc. — Class A^*		1,920		117,734
Black Box Corp.		2,829		99,439
United Online, Inc.		15,125		95,363
THQ, Inc.^*		20,630		94,073


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P SmallCap 600 Pure Value Fund


	Shares		Value
COMMON STOCKS^† - 99.1% (continued)
Information Technology - 15.2% (continued)
Hutchinson Technology, Inc.^*		31,770	$	89,591
Anixter International, Inc.		1,110		77,578
Infospace, Inc.^*		6,220		53,865
Arris Group, Inc.^*		4,041		51,482
Digi International, Inc.^*		4,685		49,474
Comtech Telecommunications Corp.		1,593		43,298

Total Information Technology				2,953,527

Health Care - 12.3%
Kendle International, Inc.^*		29,969		320,968
Molina Healthcare, Inc.^*		6,947		277,880
RehabCare Group, Inc.^*		6,272		231,249
PharMerica Corp.^*		19,765		226,112
Centene Corp.^*		6,437		212,292
Healthways, Inc.^*		13,777		211,752
Amedisys, Inc.^*		4,548		159,180
Cross Country Healthcare, Inc.^*		18,057		141,386
Gentiva Health Services, Inc.^*		4,656		130,508
Cambrex Corp.^*		22,744		125,092
Amsurg Corp. - Class A^*		4,090		104,050
Invacare Corp.		3,196		99,459
Symmetry Medical, Inc.^*		9,535		93,443
CONMED Corp.^*		2,011		52,849

Total Health Care				2,386,220

Consumer Staples - 5.5%
Seneca Foods Corp. - Class A^*		9,530		284,661
Alliance One International, Inc.^*		55,437		222,857
Spartan Stores, Inc.		10,034		148,403
Nash Finch Co.		3,888		147,511
Central Garden and Pet Co. - Class A^*		15,751		145,066
Sanderson Farms, Inc.		1,660		76,227
Casey’s General Stores, Inc.		1,273		49,647

Total Consumer Staples				1,074,372

Materials - 3.4%
A. Schulman, Inc.		6,453		159,518
Headwaters, Inc.^*		19,079		112,566
Wausau Paper Corp.		13,421		102,536
AM Castle & Co.^*		4,557		86,036
Myers Industries, Inc.		7,805		77,504
Kaiser Aluminum Corp.		1,451		71,462
Stepan Co.		681		49,373

Total Materials				658,995

Energy - 3.1%
World Fuel Services Corp.		4,018		163,171
Hornbeck Offshore Services, Inc.^*		4,958		152,954
Matrix Service Co.^*		6,701		93,144
Holly Corp.		1,450		88,102
Tetra Technologies, Inc.^*		3,987		61,400
Bristow Group, Inc.^*		1,022		48,341

Total Energy				607,112

Utilities - 2.3%
Central Vermont Public Service Corp.		4,903		114,191
Laclede Group, Inc.		2,757		105,042
Avista Corp.		3,595		83,152
NorthWestern Corp.		1,715		51,964
CH Energy Group, Inc.		926		46,800
Southwest Gas Corp.		1,177		45,868

Total Utilities				447,017

Telecommunication Services - 0.4%
Cincinnati Bell, Inc.^*		25,700		68,876

Total Common Stocks (Cost $16,017,298)				19,245,121


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.9%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	178,680	$	178,680

Total Repurchase Agreement (Cost $178,680)				178,680

Total Investments - 100.0% (Cost $16,195,978)			$	19,423,801
Liabilities, Less Cash & Other Assets - 0.0%				(7,892	)

Total Net Assets - 100.0%			$	19,415,909


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P MidCap 400 Pure Value Fund


	Shares		Value
COMMON STOCKS^† - 99.6%
Financials - 22.8%
First American Financial Corp.		38,157	$	629,591
Unitrin, Inc.		17,448		538,794
Reinsurance Group of America, Inc. — Class A		7,076		444,231
Protective Life Corp.		14,323		380,276
Transatlantic Holdings, Inc.		6,371		310,077
American Financial Group, Inc.		8,694		304,464
Everest Re Group Ltd.		3,334		293,992
Hanover Insurance Group, Inc.		5,987		270,912
Fidelity National Financial, Inc. — Class A		19,143		270,491
BancorpSouth, Inc.		17,273		266,868
StanCorp Financial Group, Inc.		5,371		247,711
Old Republic International Corp.		17,789		225,742
W.R. Berkley Corp.		6,690		215,485
HCC Insurance Holdings, Inc.		6,301		197,284
Astoria Financial Corp.		13,261		190,561
Washington Federal, Inc.		10,669		185,000
International Bancshares Corp.		9,745		178,723
Mercury General Corp.		4,450		174,128
Fulton Financial Corp.		14,503		161,128
Synovus Financial Corp.		64,856		155,654
Associated Banc-Corp.		9,430		140,035
Hospitality Properties Trust		5,853		135,497
Webster Financial Corp.		5,890		126,223
Apollo Investment Corp.		9,595		115,716
First Niagara Financial Group, Inc.		7,779		105,639

Total Financials				6,264,222

Industrials - 13.6%
URS Corp.^*		12,230		563,191
KBR, Inc.		10,101		381,515
Brink’s Co.		10,762		356,330
Manpower, Inc.		5,319		334,459
Granite Construction, Inc.		11,008		309,325
Aecom Technology Corp.^*		10,492		290,943
AirTran Holdings, Inc.^*		37,472		279,166
Harsco Corp.		7,881		278,120
Shaw Group, Inc.^*		7,497		265,469
JetBlue Airways Corp.^*		32,585		204,308
Trinity Industries, Inc.		5,300		194,351
Alliant Techsystems, Inc.		1,968		139,079
Con-way, Inc.		3,190		125,335

Total Industrials				3,721,591

Consumer Discretionary - 12.7%
Collective Brands, Inc.^*		19,760		426,421
Boyd Gaming Corp.^*		43,948		411,793
Regis Corp.		19,202		340,643
Barnes & Noble, Inc.		36,427		334,764
American Greetings Corp. — Class A		13,859		327,072
Wendy’s — Class A		51,790		260,504
Rent-A-Center, Inc. — Class A		6,731		234,979
Scholastic Corp.		8,342		225,568
Bob Evans Farms, Inc.		6,570		214,182
Mohawk Industries, Inc.^*		3,050		186,507
Career Education Corp.^*		6,830		155,178
Foot Locker, Inc.		7,280		143,562
KB Home		9,430		117,309
MDC Holdings, Inc.		4,130		104,695

Total Consumer Discretionary				3,483,177

Health Care - 12.5%
Kindred Healthcare, Inc.^*		41,948		1,001,718
Omnicare, Inc.		20,737		621,903
Community Health Systems, Inc.^*		13,710		548,263
Owens & Minor, Inc.		12,660		411,197
Health Net, Inc.^*		12,101		395,703
LifePoint Hospitals, Inc.^*		7,303		293,434
Teleflex, Inc.		2,792		161,880

Total Health Care				3,434,098

Information Technology - 12.3%
CoreLogic, Inc.		38,067		704,239
Ingram Micro, Inc. — Class A^*		28,348		596,158
Tech Data Corp.^*		11,301		574,769
Arrow Electronics, Inc.^*		12,357		517,511
Avnet, Inc.^*		13,080		445,897
AOL, Inc.^*		12,784		249,672
SRA International, Inc. — Class A^*		6,180		175,265
Convergys Corp.^*		8,674		124,559

Total Information Technology				3,388,070

Utilities - 8.1%
PNM Resources, Inc.		33,769		503,833
Questar Corp.		16,642		290,403
Atmos Energy Corp.		8,107		276,449
N.V. Energy, Inc.		15,569		231,822
Great Plains Energy, Inc.		10,953		219,279
UGI Corp.		5,646		185,753
WGL Holdings, Inc.		4,204		163,956
Hawaiian Electric Industries, Inc.		5,267		130,622
Vectren Corp.		4,083		111,058
IDACORP, Inc.		2,766		105,385

Total Utilities				2,218,560

Consumer Staples - 6.4%
Smithfield Foods, Inc.^*		22,803		548,640
Universal Corp.		10,077		438,753
BJ’s Wholesale Club, Inc.^*		7,157		349,405
Ruddick Corp.		6,450		248,905
Ralcorp Holdings, Inc.^*		2,721		186,198

Total Consumer Staples				1,771,901

Materials - 5.4%
Ashland, Inc.		5,354		309,247
Commercial Metals Co.		16,817		290,430
Reliance Steel & Aluminum Co.		4,240		244,987
Cabot Corp.		2,957		136,880
Worthington Industries, Inc.		6,532		136,649
Olin Corp.		5,427		124,387
Louisiana-Pacific Corp.^*		11,542		121,191
Temple-Inland, Inc.		5,146		120,416

Total Materials				1,484,187

Energy - 5.0%
Overseas Shipholding Group, Inc.		10,920		350,969
Frontier Oil Corp.		10,733		314,692
Helix Energy Solutions Group, Inc.^*		14,620		251,464
Tidewater, Inc.		2,932		175,480
Exterran Holdings, Inc.^*		6,092		144,563


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P MidCap 400 Pure Value Fund


	Shares		Value
COMMON STOCKS^† - 99.6% (continued)
Energy - 5.0% (continued)
Southern Union Co.		4,388	$	125,584

Total Energy				1,362,752

Telecommunication Services - 0.8%
Telephone & Data Systems, Inc.		6,297		212,209


Total Common Stocks (Cost $23,823,027)				27,340,767

WARRANT^†† - 0.0%
Consumer Discretionary - 0.0%
Krispy Kreme Doughnuts, Inc.
$12.21, 03/02/12		27		5


Total Warrant (Cost $–)				5


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.4%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	97,758	$	97,758

Total Repurchase Agreement (Cost $97,758)				97,758

Total Investments - 100.0% (Cost $23,920,785)			$	27,438,530
Cash & Other Assets, Less Liabilities - 0.0%				3,538

Total Net Assets - 100.0%			$	27,442,068


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P 500 Pure Value Fund


	Shares		Value
COMMON STOCKS^† - 99.9%
Financials - 25.6%
Hartford Financial Services Group, Inc.		20,436	$	550,342
Assurant, Inc.		12,147		467,781
Capital One Financial Corp.		8,902		462,548
Bank of America Corp.		34,567		460,778
Unum Group		16,111		422,914
Allstate Corp.		12,702		403,670
Prudential Financial, Inc.		6,191		381,242
XL Group plc — Class A		15,224		374,510
Genworth Financial, Inc. — Class A^*		26,807		360,822
Lincoln National Corp.		11,021		331,071
NASDAQ OMX Group, Inc.^*		9,888		255,506
JPMorgan Chase & Co.		5,491		253,135
ACE Ltd.		3,764		243,531
Travelers Companies, Inc.		4,029		239,645
Cincinnati Financial Corp.		7,049		231,207
Principal Financial Group, Inc.		7,175		230,389
Fifth Third Bancorp		16,579		230,117
Loews Corp.		5,338		230,014
Citigroup, Inc.^*		49,360		218,171
Regions Financial Corp.		28,012		203,367
BB&T Corp.		7,244		198,848
Weyerhaeuser Co.		7,857		193,282
SLM Corp.^*		12,317		188,450
Legg Mason, Inc.		5,104		184,203
PNC Financial Services Group, Inc.		2,903		182,860
SunTrust Banks, Inc.		5,991		172,781
Morgan Stanley		6,288		171,788
NYSE Euronext		4,772		167,831
Chubb Corp.		2,604		159,651
Discover Financial Services		6,610		159,433
MetLife, Inc.		3,548		158,702
People’s United Financial, Inc.		12,028		151,312
Goldman Sachs Group, Inc.		854		135,333
Torchmark Corp.		1,891		125,714

Total Financials				8,900,948

Utilities - 15.8%
Constellation Energy Group, Inc.		23,699		737,750
NRG Energy, Inc.^*		29,284		630,777
Pepco Holdings, Inc.		22,876		426,637
NiSource, Inc.		17,279		331,411
Ameren Corp.		11,328		317,977
AES Corp.^*		24,280		315,640
FirstEnergy Corp.		6,131		227,399
Oneok, Inc.		3,363		224,917
DTE Energy Co.		4,555		223,013
Integrys Energy Group, Inc.		4,402		222,345
CMS Energy Corp.		9,221		181,101
Edison International		4,794		175,413
Consolidated Edison, Inc.		3,129		158,703
American Electric Power Company, Inc.		4,402		154,686
Nicor, Inc.		2,733		146,762
Progress Energy, Inc.		3,146		145,156
Duke Energy Corp.		7,877		142,968
Northeast Utilities		3,871		133,937
Sempra Energy		2,440		130,540
CenterPoint Energy, Inc.		7,259		127,468
Xcel Energy, Inc.		4,887		116,750
SCANA Corp.		2,888		113,701
Entergy Corp.		1,602		107,670

Total Utilities				5,492,721

Consumer Staples - 13.4%
Dean Foods Co.^*		80,095		800,950
SUPERVALU, Inc.		86,146		769,284
Tyson Foods, Inc. — Class A		31,801		610,261
Archer-Daniels-Midland Co.		16,899		608,533
CVS Caremark Corp.		10,947		375,701
Kroger Co.		13,772		330,115
Safeway, Inc.		11,102		261,341
Costco Wholesale Corp.		3,376		247,528
Walgreen Co.		5,029		201,864
Wal-Mart Stores, Inc.		2,881		149,956
Sysco Corp.		5,065		140,301
ConAgra Foods, Inc.		5,797		137,679

Total Consumer Staples				4,633,513

Health Care - 10.9%
Coventry Health Care, Inc.^*		22,113		705,184
Humana, Inc.^*		7,916		553,645
WellPoint, Inc.		7,665		534,940
Aetna, Inc.		13,435		502,872
McKesson Corp.		5,896		466,079
Cardinal Health, Inc.		9,745		400,812
UnitedHealth Group, Inc.		7,066		319,383
CareFusion Corp.^*		6,156		173,599
Boston Scientific Corp.^*		18,662		134,180

Total Health Care				3,790,694

Consumer Discretionary - 10.8%
Sears Holdings Corp.^*		8,727		721,287
GameStop Corp. — Class A^*		21,350		480,802
Whirlpool Corp.		4,986		425,605
AutoNation, Inc.^*		9,374		331,558
JC Penney Company, Inc.		7,343		263,687
DR Horton, Inc.		21,209		247,085
Time Warner, Inc.		5,855		209,024
Gannett Company, Inc.		13,701		208,666
Washington Post Co. — Class B		467		204,341
CBS Corp. — Class B		7,882		197,365
Goodyear Tire & Rubber Co.^*		11,182		167,506
RadioShack Corp.		10,530		158,055
Lowe’s Companies, Inc.		5,590		147,744

Total Consumer Discretionary				3,762,725

Energy - 9.6%
Tesoro Corp.^*		31,961		857,514
Valero Energy Corp.		27,135		809,166
Marathon Oil Corp.		9,560		509,643
Sunoco, Inc.		6,986		318,492
ConocoPhillips		3,049		243,493
QEP Resources, Inc.		5,860		237,564
Rowan Companies, Inc.^*		5,038		222,579
Hess Corp.		1,466		124,918

Total Energy				3,323,369

Industrials - 5.8%
RR Donnelley & Sons Co.		19,214		363,550


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds S&P 500 Pure Value Fund


	Shares		Value
COMMON STOCKS^† - 99.9% (continued)
Industrials - 5.8% (continued)
L-3 Communications Holdings, Inc.		4,403	$	344,799
Jacobs Engineering Group, Inc.^*		5,645		290,322
Northrop Grumman Corp.		4,115		258,052
Ryder System, Inc.		5,021		254,062
Masco Corp.		13,104		182,408
Quanta Services, Inc.^*		7,889		176,950
General Electric Co.		7,342		147,207

Total Industrials				2,017,350

Information Technology - 3.5%
Jabil Circuit, Inc.		23,134		472,628
Computer Sciences Corp.		8,947		435,987
Xerox Corp.		16,337		173,989
Dell, Inc.^*		8,576		124,438

Total Information Technology				1,207,042

Materials - 3.3%
International Paper Co.		9,556		288,400
AK Steel Holding Corp.		16,942		267,345
MeadWestvaco Corp.		8,372		253,923
Alcoa, Inc.		10,178		179,641
Sealed Air Corp.		5,279		140,738

Total Materials				1,130,047

Telecommunication Services - 1.2%
Sprint Nextel Corp.^*		92,158		427,613


Total Common Stocks (Cost $29,448,239)				34,686,022


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,1 - 0.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	156,059	$	156,059

Total Repurchase Agreement (Cost $156,059)				156,059


Total Investments - 100.4% (Cost $29,604,298)			$	34,842,081
Liabilities, Less Cash & Other Assets — (0.4)%				(128,702	)

Total Net Assets - 100.0%			$	34,713,379


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreement — See Note 2.

plc		Public Limited Company


Schedule of Investments March 31, 2011 (Unaudited)		International Equity Funds Europe 1.25x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 46.9%
Financials - 9.9%
HSBC Holdings plc ADR		4,800	$	248,640
Banco Santander S.A. ADR		13,910		163,025
Deutsche Bank AG		1,960		115,777
UBS AG		5,860		105,773
Banco Bilbao Vizcaya Argentaria S.A. ADR		7,770		93,240
Credit Suisse Group AG ADR		2,160		91,973
Barclays plc ADR		4,420		80,179
ING Groep N.V. ADR		5,590		71,049

Total Financials				969,656

Energy - 9.9%
Total S.A. ADR		5,620		342,651
Royal Dutch Shell plc ADR		3,010		219,309
ENI SpA ADR		4,370		214,698
BP plc ADR		4,300		189,802

Total Energy				966,460

Health Care - 7.4%
Novartis AG ADR		6,210		337,514
GlaxoSmithKline plc ADR		3,760		144,422
AstraZeneca plc ADR		2,670		123,140
Sanofi-Aventis S.A. ADR		2,460		86,641
Alcon, Inc.		190		31,447

Total Health Care				723,164

Telecommunication Services - 6.8%
France Telecom S.A. ADR		9,690		218,122
Vodafone Group plc ADR		7,220		207,575
Telefonica S.A. ADR		6,980		176,036
Deutsche Telekom AG ADR		4,320		66,614

Total Telecommunication Services				668,347

Materials - 3.9%
Rio Tinto plc ADR		2,450		174,244
BHP Billiton Ltd. ADR		1,560		149,573
ArcelorMittal		1,570		56,755

Total Materials				380,572

Consumer Staples - 2.8%
Diageo plc ADR		1,340		102,135
Unilever N.V.		3,170		99,411
British American Tobacco plc ADR		880		71,271

Total Consumer Staples				272,817

Industrials - 2.4%
Siemens AG ADR		1,680		230,731


Information Technology - 2.0%
SAP AG ADR		1,490		91,427
Telefonaktiebolaget LM Ericsson ADR		4,740		60,956
Nokia Oyj ADR		4,670		39,742

Total Information Technology				192,125

Consumer Discretionary - 1.3%
Daimler AG		1,840		130,254


Utilities - 0.5%
Veolia Environnement S.A. ADR		1,750		54,547


Total Common Stocks (Cost $3,455,100)				4,588,673


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,1 - 39.4%
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		854,568		854,568
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		769,834		769,834
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		769,834		769,834
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		769,834		769,834
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11		688,733		688,733

Total Repurchase Agreements (Cost $3,852,803)				3,852,803


Total Investments - 86.3% (Cost $7,307,903)			$	8,441,476
Cash & Other Assets, Less Liabilities - 13.7%				1,338,312

Total Net Assets - 100.0%			$	9,779,788


			Unrealized
	Contracts		Gain
CURRENCY FUTURES CONTRACTS PURCHASED^†
June 2011 EURO Currency Futures Contracts (Aggregate Value of Contracts $7,784,150)		44	$	79,064

FUTURES CONTRACTS PURCHASED^†
June 2011 EURO STOXX 50 Index Futures Contracts (Aggregate Value of Contracts $2,502,672)		62	$	15,546
June 2011 STOXX 50 Index Futures Contracts (Aggregate Value of Contracts $5,088,030)		141		12,659

(Total Aggregate Value of Contracts $7,590,702)			$	28,205


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreements — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company


Schedule of Investments March 31, 2011 (Unaudited)		International Equity Funds Japan 2x Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTE^†† - 14.2%
Federal Home Loan Bank¹
0.06% due 04/25/11	$	1,000,000	$	999,963

Total Federal Agency Discount Note (Cost $999,963)				999,963

REPURCHASE AGREEMENTS^††,2 - 56.0%
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		871,080		871,080
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		784,709		784,709
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		784,709		784,709
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		784,709		784,709
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11		702,041		702,041

Total Repurchase Agreements (Cost $3,927,248)				3,927,248

Total Investments - 70.2% (Cost $4,927,211)			$	4,927,211
Cash & Other Assets, Less Liabilities - 29.8%				2,088,303

Total Net Assets - 100.0%			$	7,015,514


			Unrealized
	Contracts		Gain (Loss)
FUTURES CONTRACTS PURCHASED^†
June 2011 Nikkei-225 Stock Average Index Futures Contracts (Aggregate Value of Contracts $13,224,800)		271	$	729,604

CURRENCY FUTURES CONTRACTS PURCHASED^†
June 2011 Japanese Yen Currency Futures Contracts (Aggregate Value of Contracts $13,228,600)		88		(116,753	)


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

2		Repurchase Agreements — See Note 2.


Schedule of Investments March 31, 2011 (Unaudited)		Specialty Funds Strengthening U.S. Dollar 2x Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 31.9%
Federal Farm Credit Bank¹
0.02% due 04/12/11	$	500,000	$	499,997
Fannie Mae²
0.08% due 05/10/11		500,000		499,956

Total Federal Agency Discount Notes (Cost $999,953)				999,953

REPURCHASE AGREEMENTS^††,3 - 59.6%
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		399,718		399,718
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11⁴		391,898		391,898
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		360,085		360,085
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		360,085		360,085
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		360,085		360,085

Total Repurchase Agreements (Cost $1,871,871)				1,871,871

Total Investments - 91.5% (Cost $2,871,824)			$	2,871,824
Cash & Other Assets, Less Liabilities - 8.5%				266,752

Total Net Assets - 100.0%			$	3,138,576


			Unrealized
	Contracts		Loss
CURRENCY FUTURES CONTRACTS PURCHASED^†
June 2011 U.S. Dollar Index Futures Contracts (Aggregate Value of Contracts $1,905,000)		25	$	(14,941	)


			Unrealized
	Units		Loss
CURRENCY INDEX SWAP AGREEMENTS^††
Goldman Sachs International April 2011 U.S. Dollar Index Swap, Terminating 04/27/11⁵ (Notional Value $4,348,859)		57,164	$	(12,750	)


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

2		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

3		Repurchase Agreements — See Note 2.

4		All or a portion of this security is pledged as currency index swap collateral at March 31, 2011.

5		Total Return based on U.S. Dollar Index +/- financing at a variable rate.


Schedule of Investments March 31, 2011 (Unaudited)		Specialty Funds Weakening U.S. Dollar 2x Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 44.0%
Fannie Mae¹
0.07% due 05/04/11	$	500,000	$	499,968
0.08% due 05/10/11		500,000		499,957
Federal Farm Credit Bank²
0.02% due 04/12/11		500,000		499,997
Federal Home Loan Bank²
0.06% due 04/25/11		500,000		499,982
Farmer Mac²
0.10% due 06/10/11		500,000		499,912

Total Federal Agency Discount Notes
(Cost $2,499,806)				2,499,816

REPURCHASE AGREEMENTS^††,3 - 45.0%
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		547,406		547,406
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11⁴		534,030		534,030
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		493,128		493,128
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		493,128		493,128
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		493,128		493,128

Total Repurchase Agreements
(Cost $2,560,820)				2,560,820

Total Investments - 89.0% (Cost $5,060,626)			$	5,060,636
Cash & Other Assets, Less Liabilities - 11.0%				624,905

Total Net Assets - 100.0%			$	5,685,541


			Unrealized
	Contracts		Gain
CURRENCY FUTURES CONTRACTS SOLD SHORT^†
June 2011 U.S. Dollar Index Futures Contracts (Aggregate Value of Contracts $8,534,400)		112	$	41,962


			Unrealized
	Units		Gain
CURRENCY INDEX SWAP AGREEMENTS SOLD SHORT^††
Goldman Sachs International April 2011 U.S. Dollar Index Swap, Terminating 04/27/11⁵ (Notional Value $2,859,538)		37,587	$	21,999


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

2		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

3		Repurchase Agreements — See Note 2.

4		All or a portion of this security is pledged as currency index swap collateral at March 31, 2011.

5		Total Return based on U.S. Dollar Index +/- financing at a variable rate.


Schedule of Investments March 31, 2011 (Unaudited)		Specialty Funds Real Estate Fund


	Shares		Value
COMMON STOCKS^† - 99.6%
Real Estate Investment Trusts (REITs) - 92.9%
Specialized REITs - 23.8%
Public Storage		5,039	$	558,875
HCP, Inc.		12,288		466,207
Host Hotels & Resorts, Inc.		24,665		434,351
Health Care REIT, Inc.		7,258		380,610
Ventas, Inc.		6,863		372,661
Plum Creek Timber Company, Inc.		7,477		326,072
Nationwide Health Properties, Inc.		6,848		291,245
Rayonier, Inc.		4,528		282,140
Senior Housing Properties Trust		9,584		220,815
Hospitality Properties Trust		9,188		212,702
Entertainment Properties Trust		4,019		188,170
Omega Healthcare Investors, Inc.		8,174		182,607
LaSalle Hotel Properties		6,728		181,656
Extra Space Storage, Inc.		8,418		174,337
DiamondRock Hospitality Co.		15,527		173,437
Potlatch Corp.		3,974		159,755
Healthcare Realty Trust, Inc.		6,870		155,949
Medical Properties Trust, Inc.		12,491		144,521
Sunstone Hotel Investors, Inc.^*		13,591		138,492
U-Store-It Trust		12,310		129,501
Strategic Hotels & Resorts, Inc.^*		20,000		129,000
Hersha Hospitality Trust — Class A		20,960		124,502
Sovran Self Storage, Inc.		2,511		99,310

Total Specialized REITs				5,526,915

Retail REITs - 19.5%
Simon Property Group, Inc.		6,626		710,042
General Growth Properties, Inc.		31,105		481,505
Kimco Realty Corp.		18,973		347,965
Macerich Co.		6,468		320,360
Federal Realty Investment Trust		3,418		278,772
Realty Income Corp.		7,356		257,092
Developers Diversified Realty Corp.		17,183		240,562
Regency Centers Corp.		5,450		236,966
Taubman Centers, Inc.		4,084		218,821
Weingarten Realty Investors		8,701		218,047
CBL & Associates Properties, Inc.		11,392		198,449
National Retail Properties, Inc.		7,254		189,547
Tanger Factory Outlet Centers		6,996		183,575
Equity One, Inc.		9,628		180,718
Glimcher Realty Trust		13,391		123,867
Pennsylvania Real Estate Investment Trust		8,065		115,088
Acadia Realty Trust		5,733		108,468
Getty Realty Corp.		4,740		108,451

Total Retail REITs				4,518,295

Residential REITs - 13.3%
Equity Residential		8,923		503,346
AvalonBay Communities, Inc.		3,294		395,544
UDR, Inc.		10,798		263,147
Essex Property Trust, Inc.		2,073		257,052
Camden Property Trust		4,303		244,497
BRE Properties, Inc.		4,623		218,113
Apartment Investment & Management Co. - Class A		8,509		216,724
Mid-America Apartment Communities, Inc.		2,964		190,289
American Campus Communities, Inc.		5,738		189,354
Home Properties, Inc.		3,195		188,345
Post Properties, Inc.		4,407		172,975
Equity Lifestyle Properties, Inc.		2,902		167,300
Associated Estates Realty Corp.		4,438		70,475

Total Residential REITs				3,077,161

Office REITs - 13.2%
Boston Properties, Inc.		4,817		456,892
SL Green Realty Corp.		4,134		310,877
Digital Realty Trust, Inc.		5,007		291,107
Alexandria Real Estate Equities, Inc.		3,348		261,044
Duke Realty Corp.		17,106		239,655
Mack-Cali Realty Corp.		6,470		219,333
Highwoods Properties, Inc.		5,755		201,483
BioMed Realty Trust, Inc.		10,499		199,691
Corporate Office Properties Trust		5,517		199,384
Douglas Emmett, Inc.		10,372		194,475
Kilroy Realty Corp.		4,682		181,802
Brandywine Realty Trust		13,380		162,433
Lexington Realty Trust		15,691		146,711

Total Office REITs				3,064,887

Mortgage REITs - 8.2%
Annaly Capital Management, Inc.		25,950		452,827
MFA Financial, Inc.		25,591		209,846
American Capital Agency Corp.		6,696		195,121
Starwood Property Trust, Inc.		7,002		156,145
Hatteras Financial Corp.		5,539		155,757
Redwood Trust, Inc.		8,715		135,518
Cypress Sharpridge Investments, Inc.		9,785		124,074
Invesco Mortgage Capital, Inc.		5,609		122,557
iStar Financial, Inc.^*		12,620		115,852
Capstead Mortgage Corp.		9,030		115,403
Anworth Mortgage Asset Corp.		16,160		114,574

Total Mortgage REITs				1,897,674

Diversified REITs - 5.8%
Vornado Realty Trust		5,693		498,138
Liberty Property Trust		7,411		243,822
Washington Real Estate Investment Trust		5,816		180,819
Colonial Properties Trust		8,262		159,044
PS Business Parks, Inc.		2,610		151,223
Cousins Properties, Inc.		14,434		120,524

Total Diversified REITs				1,353,570

Industrial REITs - 5.5%
ProLogis		24,740		395,345
AMB Property Corp.		8,901		320,169
DCT Industrial Trust, Inc.		27,209		151,010
DuPont Fabros Technology, Inc.		6,164		149,477
First Industrial Realty Trust, Inc.^*		11,373		135,225
EastGroup Properties, Inc.		2,866		126,018

Total Industrial REITs				1,277,244

Forest Products - 1.9%
Weyerhaeuser Co.		17,683		435,002


Schedule of Investments March 31, 2011 (Unaudited)		Specialty Funds Real Estate Fund


	Shares		Value
COMMON STOCKS^† - 99.6% (continued)
Real Estate Investment Trusts (REITs) - 92.9% (continued)
Office REITs - 1.7%
Piedmont Office Realty Trust, Inc. — Class A		11,562	$	224,418
CommonWealth REIT		6,984		181,375

Total Office REITs				405,793

Total Real Estate Investment Trusts (REITs)				21,556,541

Real Estate Management & Development - 6.7%
Real Estate Services - 2.7%
CB Richard Ellis Group, Inc. — Class A^*		13,550		361,785
Jones Lang LaSalle, Inc.		2,559		255,235

Total Real Estate Services				617,020

Real Estate Operating Companies - 1.7%
Brookfield Properties Corp.		21,581		382,415

Real Estate Management & Development - 0.9%
Forest City Enterprises, Inc. — Class A^*		11,575		217,957

Diversified Real Estate Activities - 0.8%
St. Joe Co.^*		7,382		185,067

Real Estate Development - 0.6%
Howard Hughes Corp.^*		2,025		143,046



Total Real Estate Management & Development				1,545,505

Total Common Stocks (Cost $12,837,133)				23,102,046

Total Investments - 99.6% (Cost $12,837,133)			$	23,102,046
Cash & Other Assets, Less Liabilities - 0.4%				99,704

Total Net Assets - 100.0%			$	23,201,750


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

REIT		Real Estate Investment Trust


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds Dow 2x Strategy Fund


	Shares		Value
COMMON STOCKS^† - 43.8%
Industrials - 10.0%
Caterpillar, Inc.		3,720	$	414,222
3M Co.		3,720		347,820
United Technologies Corp.		3,722		315,067
Boeing Co.		3,720		275,020
General Electric Co.		3,720		74,586

Total Industrials				1,426,715

Information Technology - 7.0%
International Business Machines Corp.		3,721		606,784
Hewlett-Packard Co.		3,720		152,408
Microsoft Corp.		3,720		94,339
Intel Corp.		3,719		75,012
Cisco Systems, Inc.		3,720		63,798

Total Information Technology				992,341

Consumer Staples - 6.1%
Procter & Gamble Co.		5,072		312,435
Coca-Cola Co.		3,720		246,822
Wal-Mart Stores, Inc.		3,720		193,626
Kraft Foods, Inc. — Class A		3,722		116,722

Total Consumer Staples				869,605

Energy - 5.0%
Chevron Corp.		3,720		399,640
Exxon Mobil Corp.		3,720		312,963

Total Energy				712,603

Financials - 4.9%
Travelers Companies, Inc.		5,210		309,891
JPMorgan Chase & Co.		3,719		171,446
American Express Co.		3,720		168,144
Bank of America Corp.		3,720		49,587

Total Financials				699,068

Consumer Discretionary - 4.1%
McDonald’s Corp.		3,722		283,207
Walt Disney Co.		3,720		160,295
Home Depot, Inc.		3,720		137,863

Total Consumer Discretionary				581,365

Health Care - 3.0%
Johnson & Johnson		3,719		220,351
Merck & Company, Inc.		3,720		122,797
Pfizer, Inc.		3,720		75,553

Total Health Care				418,701

Materials - 1.9%
E. I. du Pont de Nemours & Co.		3,720		204,489
Alcoa, Inc.		3,720		65,658

Total Materials				270,147

Telecommunication Services - 1.8%
Verizon Communications, Inc.		3,716		143,215
AT&T, Inc.		3,720		113,832

Total Telecommunication Services				257,047

Total Common Stocks (Cost $4,042,621)				6,227,592


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,1 - 54.5%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11²	$	3,390,616	$	3,390,616
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		1,176,471		1,176,471
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		1,059,818		1,059,818
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		1,059,818		1,059,818
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		1,059,818		1,059,818

Total Repurchase Agreements (Cost $7,746,541)				7,746,541


Total Investments - 98.3% (Cost $11,789,162)			$	13,974,133
Cash & Other Assets, Less Liabilities - 1.7%				238,747

Total Net Assets - 100.0%			$	14,212,880


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS PURCHASED^†
June 2011 Dow Jones Industrial Average Index Mini Futures Contracts (Aggregate Value of Contracts $6,131,500)		100	$	150,805


			Unrealized
	Units		Gain
EQUITY INDEX SWAP AGREEMENTS^††
Goldman Sachs International April 2011 Dow Jones Industrial Average Index Swap, Terminating 04/27/11³ (Notional Value $8,457,711)		687	$	86,018
Credit Suisse Capital, LLC April 2011 Dow Jones Industrial Average Index Swap, Terminating 04/28/11³ (Notional Value $7,656,830)		622		28,177
Morgan Stanley Capital Services, Inc. April 2011 Dow Jones Industrial Average Index Swap, Terminating 04/26/11³ (Notional Value $347,241)		28		2,852

(Total Notional Value $16,461,782)			$	117,047


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreements — See Note 2.

2		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

3		Total Return based on Dow Jones Industrial Average Index +/- financing at a variable rate.


Schedule of Investments March 31, 2011 (Unaudited)		Domestic Equity Funds Inverse Dow 2x Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 43.3%
Fannie Mae¹
0.07% due 05/04/11	$	1,000,000	$	999,936
0.08% due 05/10/11		1,000,000		999,913
Federal Home Loan Bank²
0.08% due 04/12/11		1,000,000		999,976
Farmer Mac²
0.10% due 06/10/11		1,000,000		999,824
Federal Farm Credit Bank²
0.02% due 04/12/11		700,000		699,996

Total Federal Agency Discount Notes (Cost $4,699,626)				4,699,645

REPURCHASE AGREEMENTS^††,3 - 67.7%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11⁴		3,422,594		3,422,594
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		1,060,466		1,060,466
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		955,316		955,316
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		955,316		955,316
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		955,316		955,316

Total Repurchase Agreements (Cost $7,349,008)				7,349,008


Total Investments - 111.0% (Cost $12,048,634)			$	12,048,653
Liabilities, Less Cash & Other Assets - (11.0)%				(1,196,031	)

Total Net Assets - 100.0%			$	10,852,622


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS SOLD SHORT^†
June 2011 Dow Jones Industrial Average Index Mini Futures Contracts (Aggregate Value of Contracts $306,575)		5	$	548


			Unrealized
	Units		Loss
EQUITY INDEX SWAP AGREEMENTS SOLD SHORT^††
Morgan Stanley Capital Services, Inc. April 2011 Dow Jones Industrial Average Index Swap, Terminating 04/26/11⁵ (Notional Value $1,596,577)		130	$	(13,187	)
Credit Suisse Capital, LLC April 2011 Dow Jones Industrial Average Index Swap, Terminating 04/28/11⁵ (Notional Value $6,110,377)		496		(28,316	)
Goldman Sachs International April 2011 Dow Jones Industrial Average Index Swap, Terminating 04/27/11⁵ (Notional Value $13,467,755)		1,093		(111,354	)

(Total Notional Value $21,174,709)			$	(152,857	)


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

2		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

3		Repurchase Agreements — See Note 2.

4		All or a portion of this security is pledged as equity index swap collateral at March 31, 2011.

5		Total Return based on Dow Jones Industrial Average Index +/- financing at a variable rate.


Schedule of Investments March 31, 2011 (Unaudited)		Fixed Income Funds Government Long Bond 1.2x Strategy Fund


	Face
	Amount		Value
U.S. GOVERNMENT SECURITIES^† - 38.7%
U.S. Treasury Bond
4.75% due 02/15/41	$	7,467,000	$	7,751,679

Total U.S. Government Securities (Cost $7,573,865)				7,751,679

FEDERAL AGENCY DISCOUNT NOTES^†† - 20.0%
Federal Farm Credit Bank¹
0.02% due 04/12/11		1,000,000		999,994
Federal Home Loan Bank¹
0.09% due 04/06/11		1,000,000		999,988
Fannie Mae²
0.08% due 05/10/11		1,000,000		999,914
Farmer Mac¹
0.10% due 06/10/11		1,000,000		999,825

Total Federal Agency Discount Notes (Cost $3,999,701)				3,999,721


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,3 - 37.8%
BNP Paribas Securities Corp. issued 03/31/11 at 0.05% due 04/01/11	$	1,678,221	$	1,678,221
HSBC Group issued 03/31/11 at 0.07% due 04/01/11		1,511,818		1,511,818
Mizuho Financial Group, Inc. issued 03/31/11 at 0.06% due 04/01/11		1,511,818		1,511,818
Deutsche Bank issued 03/31/11 at 0.05% due 04/01/11		1,511,818		1,511,818
Credit Suisse Group issued 03/31/11 at 0.05% due 04/01/11		1,352,551		1,352,551

Total Repurchase Agreements (Cost $7,566,226)				7,566,226


Total Investments - 96.5% (Cost $19,139,792)			$	19,317,626
Cash & Other Assets, Less Liabilities - 3.5%				706,679

Total Net Assets - 100.0%			$	20,024,305


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS PURCHASED^†
June 2011 Ultra Long-Term U.S. Treasury Bond Futures Contracts (Aggregate Value of Contracts $17,281,250)		140	$	31,045


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

2		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

3		Repurchase Agreements — See Note 2.


Schedule of Investments March 31, 2011 (Unaudited)		Fixed Income Funds Inverse Government Long Bond Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 45.2%
Fannie Mae¹
0.07% due 05/04/11	$	2,000,000	$	1,999,872
0.08% due 05/10/11		1,000,000		999,913
Federal Home Loan Bank²
0.09% due 04/06/11		2,000,000		1,999,976
Federal Farm Credit Bank²
0.07% due 04/19/11		2,000,000		1,999,930

Total Federal Agency Discount Notes (Cost $6,999,691)				6,999,691

REPURCHASE AGREEMENTS^†† - 126.3%
Joint Repurchase Agreements³
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		1,858,594		1,858,594
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		1,674,306		1,674,306
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		1,674,306		1,674,306
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11		1,497,920		1,497,920
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		1,674,306		1,674,306
Individual Repurchase Agreement⁴ Barclays Capital
issued 03/31/11 at 0.05% due04/01/11 (Secured by a U.S. Treasury Bond, at a rate of 4.75% and maturing 02/15/41 as collateral, with a market value of $11,317,380) to be repurchased at $11,162,006		11,161,990		11,161,990

Total Repurchase Agreements (Cost $19,541,422)				19,541,422


Total Long Investments - 171.5% (Cost $26,541,113)			$	26,541,113

U.S. GOVERNMENT SECURITIES SOLD SHORT^† - (75.5)%
U.S. Treasury Bond
4.75% due 02/15/41		11,256,000		(11,685,135	)

Total U.S. Government Securities Sold Short (Proceeds $11,701,765)				(11,685,135	)


Cash & Other Assets, Less Liabilities - 4.0%				613,997

Total Net Assets - 100.0%			$	15,469,975


			Unrealized
	Contracts		Gain
FUTURES CONTRACTS SOLD SHORT^†
June 2011 Ultra Long-Term U.S. Treasury Bond Futures Contracts (Aggregate Value of Contracts $4,073,438)		33	$	78,618


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

2		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

3		Repurchase Agreements — See Note 2.

4		All or portion of this security is pledged as short security collateral at March 31, 2011.


Schedule of Investments March 31, 2011 (Unaudited)		Money Market Fund U.S. Government Money Market Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 42.9%
Fannie Mae¹
0.16% due 08/08/11	$	10,000,000	$	9,994,088
0.16% due 10/03/11		10,000,000		9,991,778
0.18% due 12/01/11		10,000,000		9,987,800
0.20% due 07/11/11		5,000,000		4,997,194
Freddie Mac¹
0.18% due 04/26/11		10,000,000		9,998,750
0.23% due 08/16/11		10,000,000		9,991,247
Farmer Mac²
0.14% due 04/01/11		15,000,000		15,000,000
Federal Home Loan Bank²
0.25% due 06/24/11		15,000,000		14,991,250

Total Federal Agency Discount Notes (Cost $84,952,107)				84,952,107

FEDERAL AGENCY NOTE^†† - 5.0%
Federal Home Loan Bank²
0.58% due 06/10/11		10,000,000		10,006,893

Federal Agency Note
(Cost $10,006,893)				10,006,893

WORLD BANK DISCOUNT NOTE^†† - 5.0%
World Bank
0.21% due 04/01/11		10,000,000		10,000,000

Total World Bank Discount Note (Cost $10,000,000)				10,000,000

REPURCHASE AGREEMENTS^††,3 - 54.6%
BNP Paribas Securities Corp. issued 03/31/11 at 0.05% due 04/01/11		23,993,217		23,993,217
HSBC Group issued 03/31/11 at 0.07% due 04/01/11		21,614,179		21,614,179
Mizuho Financial Group, Inc. issued 03/31/11 at 0.06% due 04/01/11		21,614,179		21,614,179
Deutsche Bank issued 03/31/11 at 0.05% due 04/01/11		21,614,179		21,614,179
Credit Suisse Group issued 03/31/11 at 0.05% due 04/01/11		19,337,160		19,337,160

Total Repurchase Agreements (Cost $108,172,914)				108,172,914


Total Investments - 107.5% (Cost $213,131,914)			$	213,131,914
Liabilities, Less Cash & Other Assets — (7.5)%				(14,936,556	)

Total Net Assets - 100.0%			$	198,195,358


††		Value determined based on Level 2 inputs — See Note 3.

1		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

2		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

3		Repurchase Agreements — See Note 2.


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Managed Futures Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 36.3%
Federal Home Loan Bank¹
0.09% due 04/06/11	$	2,000,000	$	1,999,977
0.06% due 04/25/11		1,000,000		999,963
Federal Farm Credit Bank¹
0.02% due 04/12/11		1,000,000		999,994
Farmer Mac¹
0.07% due 04/12/11		1,000,000		999,979
Fannie Mae²
0.08% due 05/10/11		1,000,000		999,913

Total Federal Agency Discount Notes (Cost $5,999,826)				5,999,826

REPURCHASE AGREEMENTS^††,3 - 59.6%
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		2,182,834		2,182,834
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		1,966,396		1,966,396
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		1,966,396		1,966,396
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		1,966,396		1,966,396
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11		1,759,239		1,759,240

Total Repurchase Agreements (Cost $9,841,262)				9,841,262


Total Investments - 95.9% (Cost $15,841,088)			$	15,841,088
Cash & Other Assets, Less Liabilities - 4.1%				670,765

Total Net Assets - 100.0%			$	16,511,853


			Unrealized
	Contracts		Gain (Loss)
COMMODITY FUTURES CONTRACTS PURCHASED^†
June 2011 WTI Crude Futures Contracts
(Aggregate Value of Contracts $1,392,300)		13	$	152,597
July 2011 Silver Futures Contracts
(Aggregate Value of Contracts $377,700)		2		87,038
June 2011 RBOB Gasoline Futures Contracts
(Aggregate Value of Contracts $517,826)		4		78,292
June 2011 Heating Oil Futures Contracts
(Aggregate Value of Contracts $522,934)		4		64,318
June 2011 Live Cattle Futures Contracts
(Aggregate Value of Contracts $483,900)		10		38,954
July 2011 Cotton #2 Futures Contracts
(Aggregate Value of Contracts $192,900)		2		36,178

June 2011 Gold 100 Oz Futures Contracts
(Aggregate Value of Contracts $575,080)		4		34,882
July 2011 Coffee Futures Contracts
(Aggregate Value of Contracts $201,413)		2		11,543
June 2011 Lean Hogs Futures Contracts
(Aggregate Value of Contracts $332,400)		8		9,396
June 2011 Natural Gas Futures Contracts
(Aggregate Value of Contracts $580,320)		13		986
July 2011 Copper Futures Contracts
(Aggregate Value of Contracts $755,212)		7		(48,549	)

(Total Aggregate Value of Contracts $5,931,985)			$	465,635

CURRENCY FUTURES CONTRACTS PURCHASED^†
June 2011 EURO Currency Futures Contracts
(Aggregate Value of Contracts $2,122,950)		12		30,939
June 2011 Australian Dollar Futures Contracts
(Aggregate Value of Contracts $307,500)		3		6,712
June 2011 Swiss Franc Futures Contracts
(Aggregate Value of Contracts $272,350)		2		3,882
June 2011 Canadian Dollar Futures Contracts
(Aggregate Value of Contracts $205,960)		2		1,100
June 2011 British Pound Futures Contracts
(Aggregate Value of Contracts $801,400)		8		(9,770	)

(Total Aggregate Value of Contracts $3,710,160)			$	32,863

CURRENCY FUTURES CONTRACTS SOLD SHORT^†
June 2011 Japanese Yen Currency Futures Contracts
(Aggregate Value of Contracts $1,803,900)		12		3,932

COMMODITY FUTURES CONTRACTS SOLD SHORT^†
July 2011 Cocoa Futures Contracts
(Aggregate Value of Contracts $147,950)		5		2,347


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Managed Futures Strategy Fund


			Unrealized
	Contracts		Gain (Loss)
COMMODITY FUTURES CONTRACTS SOLD SHORT^† (continued)
December 2011 Corn Futures Contracts
(Aggregate Value of Contracts $156,313)		5	$	(17	)
July 2011 Corn Futures Contracts
(Aggregate Value of Contracts $595,850)		17		(57	)
May 2011 Sugar #11 Futures Contracts
(Aggregate Value of Contracts $181,978)		6		(515	)
July 2011 Soybean Futures Contracts
(Aggregate Value of Contracts $355,250)		5		(571	)
November 2011 Soybean Futures Contracts
(Aggregate Value of Contracts $348,750)		5		(611	)
July 2011 Wheat Futures Contracts
(Aggregate Value of Contracts $399,625)		10		(16,115	)

(Total Aggregate Value of Contracts $2,185,716)			$	(15,539	)

FUTURES CONTRACTS SOLD SHORT^†
June 2011 U.S. Treasury 10 Year Note Futures Contracts
(Aggregate Value of Contracts $1,188,750)		10		(8,190	)
June 2011 U.S. Treasury Long Bond Futures Contracts
(Aggregate Value of Contracts $1,200,937)		10		(23,819	)

(Total Aggregate Value of Contracts $2,389,687)			$	(32,009	)


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

2		On September 7, 2008 the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

3		Repurchase Agreements — See Note 2.



Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Alternative Strategies Allocation Fund


	Shares		Value
EXCHANGE TRADED FUNDS^† - 4.0%
Currency Exchange Traded Funds - 4.0%
PowerShares DB G10 Currency Harvest Fund		12,107	$	294,927

Total Exchange Traded Funds (Cost $246,373)				294,927

MUTUAL FUNDS^†,1 - 93.3%
RVT — Managed Futures Strategy Fund		59,050		1,350,468
RSF — Long Short Interest Rate Strategy Fund — H Class		43,410		1,083,949
RVT — Multi-Hedge Strategies Fund^*		40,264		865,266
RSF — Long/Short Commodities Strategy Fund — H Class		30,375		830,744
RSF — Event Driven and Distressed Strategies Fund — H Class		30,820		827,827
RSF — Alternative Strategies Fund — H Class		32,307		822,867
RSF — Long Short Equity Strategy Fund — H Class		23,023		611,266
RVT — Commodities Strategy Fund^*		16,699		249,820
RVT — Real Estate Fund		8,879		249,501

Total Mutual Funds (Cost $6,510,845)				6,891,708


	Face
	Amount		Value
REPURCHASE AGREEMENT^††,2 - 2.6%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	190,864	$	190,864

Total Repurchase Agreement (Cost $190,864)				190,864

Total Investments - 99.9% (Cost $6,948,082)			$	7,377,499
Cash & Other Assets, Less Liabilities - 0.1%				7,775

Total Net Assets - 100.0%			$	7,385,274


			Unrealized
	Contracts		Gain (Loss)
FUTURES CONTRACTS PURCHASED^†
June 2011 S&P 500 Index Mini Futures Contracts
(Aggregate Value of Contracts $198,187)		3	$	3,004
June 2011 U.S. Treasury 5 Year Note Futures Contracts
(Aggregate Value of Contracts $233,266)		2		(2,316	)

(Total Aggregate Value of Contracts $431,453)			$	688

FUTURES CONTRACTS SOLD SHORT^†
June 2011 MSCI EAFE Index Mini Futures Contracts
(Aggregate Value of Contracts $168,630)		2	$	(1,902	)


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Affiliated security.

2		Repurchase Agreement — See Note 2.

RSF		Rydex Series Funds

RVT		Rydex Variable Trust


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Multi-Hedge Strategies Fund


	Shares		Value
COMMON STOCKS^† - 63%
Health Care - 11.7%
Emergency Medical Services Corp. — Class A^*		6,433	$	409,074
Beckman Coulter, Inc.¹		4,060		337,264
Dionex Corp.^*		2,770		326,999
Alcon, Inc.¹		1,630		269,781
Crucell N.V. ADR^*,1		4,150		145,873
RehabCare Group, Inc.^*,1		3,640		134,207
Genzyme Corp.^*		878		66,860
Cooper Companies, Inc.¹		560		38,892
Alexion Pharmaceuticals, Inc.^*,1		390		38,485
LifePoint Hospitals, Inc.^*,1		920		36,966
Amgen, Inc.^*,1		590		31,536
Humana, Inc.^*,1		350		24,479
Biogen Idec, Inc.^*,1		320		23,485
Community Health Systems, Inc.^*,1		580		23,194
Endo Pharmaceuticals Holdings, Inc.^*,1		550		20,988
Bio-Rad Laboratories, Inc. — Class A^*,1		160		19,222
AmerisourceBergen Corp. — Class A¹		420		16,615
SXC Health Solutions Corp.^*,1		280		15,344
Omnicare, Inc.¹		460		13,795
Kinetic Concepts, Inc.^*,1		210		11,428
Illumina, Inc.^*,1		160		11,211
Perrigo Co.¹		140		11,133
McKesson Corp.¹		120		9,486
Henry Schein, Inc.^*,1		80		5,614
Hospira, Inc.^*,1		100		5,520
ResMed, Inc.^*,1		181		5,430
Teleflex, Inc.¹		70		4,059
Edwards Lifesciences Corp.^*,1		20		1,740
Coventry Health Care, Inc.^*		10		319

Total Health Care				2,058,999

Financials - 11.6%
Marshall & Ilsley Corp.		38,600		308,414
Nationwide Health Properties, Inc.		6,820		290,055
Whitney Holding Corp.		15,310		208,522
BlackRock, Inc. — Class A		920		184,929
NewAlliance Bancshares, Inc.		10,350		153,594
Sterling Bancshares, Inc.		15,000		129,150
Center Financial Corp.^*		6,780		49,765
Danvers Bancorp, Inc.		2,290		49,052
Annaly Capital Management, Inc.		2,760		48,162
Torchmark Corp.		550		36,564
American Financial Group, Inc.		1,020		35,720
Legg Mason, Inc.		980		35,368
Endurance Specialty Holdings Ltd.		720		35,150
Allied World Assurance Company Holdings, Ltd.		560		35,106
JPMorgan Chase & Co.		750		34,575
Reinsurance Group of America, Inc. — Class A		550		34,529
Discover Financial Services		1,420		34,250
Hospitality Properties Trust		1,280		29,632
NASDAQ OMX Group, Inc.^*		1,130		29,199
Huntington Bancshares, Inc.		3,720		24,701
Capital One Financial Corp.		380		19,745
CommonWealth REIT		730		18,958
CapitalSource, Inc.		2,590		18,234
Zions Bancorporation		700		16,142
Aspen Insurance Holdings Ltd.		580		15,985
General Growth Properties, Inc.		1,000		15,480
StanCorp Financial Group, Inc.		330		15,220
PNC Financial Services Group, Inc.		230		14,488
New York Community Bancorp, Inc.		830		14,326
Weingarten Realty Investors		570		14,284
Piedmont Office Realty Trust, Inc. — Class A		710		13,781
Axis Capital Holdings Ltd.		330		11,524
Unum Group		410		10,763
Forest City Enterprises, Inc. — Class A^*		530		9,980
Hudson City Bancorp, Inc.		980		9,486
SL Green Realty Corp.		90		6,768
MBIA, Inc.^*		640		6,426
SEI Investments Co.		230		5,492
CIT Group, Inc.^*		90		3,830
Fifth Third Bancorp		220		3,054
Transatlantic Holdings, Inc.		60		2,920
Jones Lang LaSalle, Inc.		20		1,995
Rayonier, Inc.		20		1,246
Affiliated Managers Group, Inc.^*		10		1,094
UDR, Inc.		40		975
Aflac, Inc.		10		528
Douglas Emmett, Inc.		1		19

Total Financials				2,039,180

Information Technology - 10.2%
Atheros Communications, Inc.^*,1		8,280		369,702
Novell, Inc.^*,1		58,350		346,016
L-1 Identity Solutions, Inc. — Class 1^*,1		14,330		168,807
Terremark Worldwide, Inc.^*		7,110		135,090
Hypercom Corp.^*,1		7,658		92,126
Verigy, Ltd.^*		3,563		50,203
Tech Data Corp.^*,1		690		35,093
Compuware Corp.^*,1		2,960		34,188
Analog Devices, Inc.¹		860		33,867
Xerox Corp.¹		3,170		33,761
CA, Inc.¹		1,390		33,610
AVX Corp.¹		2,160		32,206
Fiserv, Inc.^*,1		500		31,360
Intuit, Inc.^*,1		540		28,674
Apple, Inc.^*,1		80		27,876
Maxim Integrated Products, Inc.¹		1,020		26,112
Harris Corp.¹		490		24,304
EchoStar Corp. — Class A^*,1		490		18,547
Broadridge Financial Solutions, Inc.¹		810		18,379
eBay, Inc.^*,1		590		18,314
Microchip Technology, Inc.¹		410		15,584
Marvell Technology Group Ltd.^*,1		941		14,633
Skyworks Solutions, Inc.^*,1		451		14,621
QUALCOMM, Inc.¹		260		14,256
Cisco Systems, Inc.¹		790		13,549
Tellabs, Inc.¹		2,550		13,362
Silicon Laboratories, Inc.^*,1		300		12,963


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Multi-Hedge Strategies Fund


	Shares		Value
COMMON STOCKS^† - 63% (continued)
Information Technology - 10.2% (continued)
Akamai Technologies, Inc.^*,1		320	$	12,160
Motorola Mobility Holdings, Inc.^*,1		470		11,468
F5 Networks, Inc.^*,1		100		10,257
Cree, Inc.^*,1		220		10,155
Convergys Corp.^*,1		680		9,765
SanDisk Corp.^*,1		210		9,679
Juniper Networks, Inc.^*,1		230		9,678
Xilinx, Inc.¹		291		9,545
Avago Technologies Ltd.¹		210		6,531
Atmel Corp.^*,1		460		6,270
Vishay Intertechnology, Inc.^*,1		350		6,209
Motorola Solutions, Inc.^*,1		130		5,810
Fairchild Semiconductor International, Inc. — Class A^*,1		311		5,660
Teradata Corp.^*,1		110		5,577
Cognizant Technology Solutions Corp. — Class A^*,1		60		4,884
NetApp, Inc.^*,1		90		4,336
Synopsys, Inc.^*,1		110		3,042
Salesforce.com, Inc.^*,1		20		2,672
Lexmark International, Inc. — Class A^*,1		70		2,593
Solera Holdings, Inc.¹		20		1,022
Diebold, Inc.		1		35
Micron Technology, Inc.^*		1		11

Total Information Technology				1,794,562

Industrials - 6.8%
Bucyrus International, Inc. — Class A¹		4,310		394,149
Ladish Company, Inc.^*,1		1,300		71,045
Valmont Industries, Inc.¹		530		55,316
Armstrong World Industries, Inc.¹		790		36,553
AirTran Holdings, Inc.^*		4,570		34,046
Kirby Corp.^*,1		590		33,801
FedEx Corp.¹		360		33,678
General Cable Corp.^*,1		730		31,609
Republic Services, Inc. — Class A¹		940		28,238
Carlisle Companies, Inc.¹		620		27,621
Raytheon Co.¹		480		24,418
Corrections Corporation of America^*,1		1,000		24,400
Copa Holdings S.A. — Class A¹		430		22,704
CNH Global N.V.¹		460		22,333
WW Grainger, Inc.¹		160		22,029
Hubbell, Inc. — Class B¹		310		22,019
WESCO International, Inc.^*,1		350		21,875
Crane Co.¹		450		21,793
Navistar International Corp.^*,1		280		19,412
Ryder System, Inc.¹		370		18,722
Wabtec Corp.¹		260		17,636
GATX Corp.¹		410		15,851
Babcock & Wilcox Co.^*,1		470		15,689
L-3 Communications Holdings, Inc. — Class 3¹		200		15,662
Pall Corp.¹		270		15,555
Danaher Corp.¹		290		15,051
Donaldson Company, Inc.¹		240		14,710
Lincoln Electric Holdings, Inc.¹		190		14,425
Emerson Electric Co.¹		240		14,023
Trinity Industries, Inc.¹		360		13,201
Deere & Co.¹		110		10,658
Pentair, Inc.¹		280		10,581
Joy Global, Inc.¹		90		8,893
Union Pacific Corp.¹		90		8,850
CSX Corp.¹		110		8,646
Parker Hannifin Corp.¹		90		8,521
AMETEK, Inc.¹		160		7,019
FTI Consulting, Inc.^*,1		140		5,366
MSC Industrial Direct Co. — Class A¹		60		4,108
Snap-On, Inc.¹		50		3,003
CH Robinson Worldwide, Inc.¹		40		2,965
Regal-Beloit Corp.¹		40		2,953
URS Corp.^*,1		20		921

Total Industrials				1,200,048

Telecommunication Services - 4.5%
Qwest Communications International, Inc.¹		74,630		509,723
Hughes Communications, Inc.^*		4,290		255,984
Verizon Communications, Inc.¹		720		27,749
Telephone & Data Systems, Inc.¹		80		2,696

Total Telecommunication Services				796,152

Energy - 4.3%
Massey Energy Co.		4,038		276,038
Pride International, Inc.^*		2,466		105,915
Frontier Oil Corp.		2,460		72,127
EXCO Resources, Inc.		1,830		37,808
Newfield Exploration Co.^*		480		36,485
Southern Union Co.		1,270		36,347
Teekay Corp.		920		33,976
Spectra Energy Corp.		1,130		30,713
Rowan Companies, Inc.^*		610		26,950
Murphy Oil Corp.		340		24,963
Oil States International, Inc.^*		260		19,796
SEACOR Holdings, Inc.		180		16,643
Marathon Oil Corp.		250		13,328
National Oilwell Varco, Inc.		160		12,683
Williams Companies, Inc.		370		11,537
Tidewater, Inc.		60		3,591
Exterran Holdings, Inc.^*		130		3,085
Atwood Oceanics, Inc.^*		10		464

Total Energy				762,449

Consumer Discretionary - 4.3%
Retail Ventures, Inc.^*		5,126		88,424
Wyndham Worldwide Corp.¹		1,150		36,582
Comcast Corp. — Class A¹		1,450		35,844
Williams-Sonoma, Inc.¹		870		35,235
Whirlpool Corp.¹		400		34,144
Pre-Paid Legal Services, Inc.^*		517		34,122
Limited Brands, Inc.¹		960		31,565
Darden Restaurants, Inc.¹		640		31,443
Brinker International, Inc.¹		951		24,060
Liberty Global, Inc. — Class A^*,1		510		21,119
Ross Stores, Inc.¹		290		20,625
Priceline.com, Inc.^*,1		40		20,258
Service Corporation International¹		1,770		19,576


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Multi-Hedge Strategies Fund


	Shares		Value
COMMON STOCKS^† - 63% (continued)
Consumer Discretionary - 4.3% (continued)
Autoliv, Inc.¹		240	$	17,815
Federal-Mogul Corp.^*,1		681		16,957
VF Corp.¹		170		16,750
Mattel, Inc.¹		671		16,728
Panera Bread Co. — Class A^*,1		130		16,510
International Speedway Corp. — Class A¹		510		15,198
Aaron’s, Inc.¹		570		14,455
Amazon.com, Inc.^*,1		80		14,410
Liberty Media Corp — Interactive^*,1		890		14,276
Gentex Corp.¹		450		13,613
McDonald’s Corp.¹		170		12,935
NIKE, Inc. — Class B¹		170		12,869
Yum! Brands, Inc.¹		250		12,845
Lear Corp.¹		260		12,706
Johnson Controls, Inc.¹		280		11,640
Ford Motor Co.^*,1		780		11,630
Leggett & Platt, Inc.¹		430		10,535
Polo Ralph Lauren Corp. — Class A¹		80		9,892
Virgin Media, Inc.¹		350		9,727
Thor Industries, Inc.¹		280		9,344
Goodyear Tire & Rubber Co.^*,1		540		8,089
Time Warner Cable, Inc. — Class A¹		110		7,847
Big Lots, Inc.^*,1		150		6,515
Family Dollar Stores, Inc.¹		110		5,645
Las Vegas Sands Corp.^*,1		120		5,066
Phillips-Van Heusen Corp.¹		60		3,902
Fortune Brands, Inc.¹		50		3,095
BorgWarner, Inc.^*,1		30		2,391
Netflix, Inc.^*		10		2,373
Fossil, Inc.^*,1		20		1,873
Advance Auto Parts, Inc.¹		20		1,312
Coach, Inc.		10		520
The Gap, Inc.¹		20		453

Total Consumer Discretionary				752,913

Utilities - 4.2%
Progress Energy, Inc.¹		5,230		241,312
Nicor, Inc.¹		3,350		179,895
Oneok, Inc.¹		570		38,122
TECO Energy, Inc.¹		1,960		36,770
DTE Energy Co.¹		740		36,230
N.V. Energy, Inc.¹		2,380		35,438
NiSource, Inc.¹		1,840		35,291
Consolidated Edison, Inc.¹		690		34,997
Atmos Energy Corp.¹		860		29,326
NRG Energy, Inc.^*,1		880		18,955
UGI Corp.¹		460		15,134
Westar Energy, Inc.¹		480		12,682
ITC Holdings Corp.¹		140		9,786
Xcel Energy, Inc.¹		250		5,973
CMS Energy Corp.¹		212		4,164
Questar Corp.¹		180		3,141
CenterPoint Energy, Inc.¹		40		702

Total Utilities				737,918

Consumer Staples - 3.4%
Alberto-Culver Co. — Class B¹		9,050		337,294
Molson Coors Brewing Co. — Class B¹		770		36,105
Energizer Holdings, Inc.^*,1		500		35,580
ConAgra Foods, Inc.¹		1,450		34,438
JM Smucker Co.¹		480		34,267
BJ’s Wholesale Club, Inc.^*,1		700		34,174
Kraft Foods, Inc. — Class A¹		790		24,774
Estee Lauder Companies, Inc. — Class A¹		180		17,345
Reynolds American, Inc.¹		450		15,989
Coca-Cola Enterprises, Inc.¹		310		8,463
Tyson Foods, Inc. — Class A¹		280		5,373
Whole Foods Market, Inc.¹		70		4,613
Sara Lee Corp.¹		260		4,594
Costco Wholesale Corp.¹		40		2,933

Total Consumer Staples				595,942

Materials - 2.0%
Lubrizol Corp.		1,030		137,979
Newmont Mining Co.¹		740		40,389
Ashland, Inc.¹		590		34,078
Reliance Steel & Aluminum Co.¹		470		27,157
Huntsman Corp.¹		1,300		22,594
Cytec Industries, Inc.¹		270		14,680
Valspar Corp.¹		340		13,294
Bemis Company, Inc.¹		390		12,796
Domtar Corp.¹		130		11,931
Packaging Corporation of America¹		370		10,689
MeadWestvaco Corp.¹		300		9,099
Celanese Corp. — Class A¹		130		5,768
Sealed Air Corp.¹		150		3,999
E. I. du Pont de Nemours & Co.¹		30		1,649

Total Materials				346,102

Total Common Stocks (Cost $9,918,038)				11,084,265

EXCHANGE TRADED FUNDS^† - 2.4%
iShares MSCI United Kingdom Index Fund		6,100		109,312
iShares MSCI Malaysia Index Fund		6,620		97,777
iShares MSCI Chile Investable Market Index Fund		1,031		74,067
iShares MSCI Emerging Markets Index Fund		850		41,387
iShares MSCI South Korea Index Fund		400		25,740
GDL Fund		1,833		24,800
iShares MSCI Australia Index Fund		650		17,303
iShares MSCI Sweden Index Fund		390		12,788
Vanguard MSCI Emerging Markets ETF		260		12,719
iShares MSCI Switzerland Index Fund		450		11,381
iShares MSCI France Index Fund		340		9,156
iShares MSCI Canada Index Fund		250		8,410
iShares MSCI Netherlands Investable Market Index Fund		10		231

Total Exchange Traded Funds (Cost $348,921)				445,071

CLOSED-END FUNDS^† - 11.0%
Cohen & Steers Infrastructure Fund, Inc.		8,089		142,771


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Multi-Hedge Strategies Fund


	Shares		Value
CLOSED-END FUNDS^† - 11.0% (continued)
Royce Value Trust, Inc.		8,993	$	138,402
Gabelli Dividend & Income Trust		7,852		130,579
NFJ Dividend Interest & Premium Strategy Fund		6,710		121,988
Liberty All Star Equity Fund		20,802		109,419
Cohen & Steers REIT and Preferred Income Fund, Inc.		7,063		107,428
Calamos Strategic Total Return Fund		9,673		94,118
Eaton Vance Tax-Advantaged Dividend Income Fund		4,735		83,431
Alpine Global Premier Properties Fund		11,034		77,348
Adams Express Co.		5,942		67,501
John Hancock Bank and Thrift Opportunity Fund		3,537		61,296
DWS High Income Opportunities Fund, Inc.		4,039		59,171
Tri-Continental Corp.		3,897		56,974
H&Q Healthcare Investors		3,825		54,774
Petroleum & Resources Corp.		1,780		54,486
John Hancock Tax-Advantaged Dividend Income Fund		3,254		51,478
Macquarie Global Infrastructure Total Return Fund, Inc.		2,599		47,354
BlackRock Strategic Dividend Achievers Trust		4,397		47,004
General American Investors Company, Inc.		1,331		37,721
Swiss Helvetia Fund, Inc.		2,375		32,823
Zweig Fund, Inc.		9,005		32,418
H&Q Life Sciences Investors		2,672		32,117
LMP Capital and Income Fund, Inc.		2,357		31,348
Clough Global Equity Fund		1,975		30,455
Claymore Dividend & Income Fund		1,693		28,273
Royce Micro-Capital Trust, Inc.		2,632		26,952
Nuveen Diversified Dividend and Income Fund		1,904		21,553
Neuberger Berman Real Estate Securities Income Fund, Inc.		5,159		21,255
Source Capital, Inc.		352		20,504
Liberty All Star Growth Fund, Inc.		4,280		19,731
Cohen & Steers Dividend Majors Fund, Inc.		1,471		19,476
Nuveen Tax-Advantaged Dividend Growth Fund		1,299		17,290
LMP Real Estate Income Fund, Inc.		1,531		15,892
Lazard Global Total Return and Income Fund, Inc.		987		15,180
Macquarie		866		13,761
Royce Focus Trust, Inc.		1,436		11,991
Diamond Hill Financial Trends Fund, Inc.		333		3,310

Total Closed-End Funds (Cost $1,473,684)				1,937,572


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,2 - 19.7%
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11	$	756,020	$	756,020
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		730,892		730,892
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		658,420		658,420
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		658,420		658,420
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		658,420		658,420

Total Repurchase Agreements (Cost $3,462,173)				3,462,173


Total Long Investments - 96.2% (Cost $15,202,816)			$	16,929,081


	Shares		Value
COMMON STOCK SOLD SHORT^† - (36.6)%
Consumer Staples - (1.5)%
Coca-Cola Co.		10		(664	)
SUPERVALU, Inc.		90		(804	)
Colgate-Palmolive Co.		30		(2,423	)
Brown-Forman Corp. — Class B		40		(2,732	)
PepsiCo, Inc.		60		(3,865	)
Mead Johnson Nutrition Co. — Class A		70		(4,055	)
Central European Distribution Corp.^*		700		(7,945	)
Kellogg Co.		150		(8,097	)
Smithfield Foods, Inc.^*		420		(10,105	)
Green Mountain Coffee Roasters, Inc.^*		200		(12,922	)
HJ Heinz Co.		300		(14,646	)
Procter & Gamble Co.		250		(15,400	)
Clorox Co.		220		(15,415	)
Avon Products, Inc.		590		(15,954	)
Constellation Brands, Inc. — Class A^*		800		(16,224	)
Sysco Corp.		600		(16,620	)
Archer-Daniels-Midland Co.		480		(17,285	)
Bunge Ltd.		240		(17,359	)
Altria Group, Inc.		680		(17,700	)
Safeway, Inc.		760		(17,890	)
Kroger Co.		770		(18,457	)
Lorillard, Inc.		200		(19,002	)

Total Consumer Staples				(255,564	)

Materials - (1.6)%
Praxair, Inc.		10		(1,016	)
United States Steel Co.		20		(1,079	)
Alcoa, Inc.		70		(1,235	)
Royal Gold, Inc.		40		(2,096	)
Owens-Illinois, Inc.^*		110		(3,321	)


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Multi-Hedge Strategies Fund


	Shares		Value
COMMON STOCK SOLD SHORT^† - (36.6)% (continued)
Materials - (1.6% (continued)
Compass Minerals International, Inc.		50	$	(4,677	)
International Paper Co.		210		(6,338	)
Temple-Inland, Inc.		290		(6,786	)
AK Steel Holding Corp.		470		(7,417	)
Mosaic Co.		130		(10,237	)
Eagle Materials, Inc.		460		(13,920	)
Southern Copper Co.		350		(14,094	)
Intrepid Potash, Inc.^*		450		(15,669	)
Commercial Metals Co.		950		(16,406	)
Monsanto Co.		230		(16,620	)
Dow Chemical Co.		450		(16,988	)
Nucor Corp.		370		(17,027	)
Ecolab, Inc.		350		(17,857	)
Vulcan Materials Co.		440		(20,064	)
Martin Marietta Materials, Inc.		230		(20,624	)
Nalco Holding Co.		940		(25,671	)
Allegheny Technologies, Inc.		600		(40,632	)

Total Materials				(279,774	)

Health Care - (2.3)%
Patterson Companies, Inc.		40		(1,288	)
Cephalon, Inc.^*		20		(1,516	)
DENTSPLY International, Inc.		90		(3,329	)
Hologic, Inc.^*		180		(3,996	)
Hill-Rom Holdings, Inc.		110		(4,178	)
Cerner Corp.^*		60		(6,672	)
Techne Corp.		110		(7,876	)
Alere, Inc.^*		240		(9,394	)
Intuitive Surgical, Inc.^*		30		(10,004	)
Covance, Inc.^*		200		(10,944	)
Gen-Probe, Inc.^*		190		(12,606	)
Amylin Pharmaceuticals, Inc.^*		1,130		(12,848	)
CareFusion Corp.^*		520		(14,664	)
Quest Diagnostics, Inc.		270		(15,584	)
Charles River Laboratories International, Inc.^*		420		(16,120	)
United Therapeutics Corp.^*		260		(17,425	)
Laboratory Corporation of America Holdings^*		190		(17,505	)
Eli Lilly & Co.		500		(17,585	)
Boston Scientific Corp.^*		2,540		(18,263	)
VCA Antech, Inc.^*		730		(18,381	)
Lincare Holdings, Inc.		620		(18,389	)
Health Net, Inc.^*		570		(18,639	)
Human Genome Sciences, Inc.^*		680		(18,666	)
Celgene Corp.^*		330		(18,985	)
Brookdale Senior Living, Inc. — Class A^*		700		(19,600	)
Vertex Pharmaceuticals, Inc.^*		450		(21,568	)
Regeneron Pharmaceuticals, Inc.^*		490		(22,021	)
Kindred Healthcare, Inc.^*		1,710		(40,835	)

Total Health Care				(398,881	)

Consumer Discretionary - (2.4)%
New York Times Co. — Class A^*		30		(284	)
Clear Channel Outdoor Holdings, Inc. — Class A^*		20		(291	)
Gannett Company, Inc.		30		(457	)
Liberty Media Corp. — Starz^*		10		(776	)
MGM Resorts International^*		60		(789	)
Central European Media Enterprises Ltd. — Class A^*		40		(844	)
Tempur-Pedic International, Inc.^*		20		(1,013	)
Hillenbrand, Inc.		50		(1,075	)
DeVry, Inc.		20		(1,101	)
Scripps Networks Interactive, Inc. — Class A		30		(1,503	)
Hyatt Hotels Corporation — Class A^*		40		(1,722	)
Career Education Corp.^*		99		(2,249	)
Choice Hotels International, Inc.		60		(2,331	)
Dick’s Sporting Goods, Inc.^*		60		(2,399	)
Expedia, Inc.		120		(2,719	)
Thomson Reuters Corp.		70		(2,747	)
WMS Industries, Inc.^*		80		(2,828	)
DreamWorks Animation SKG, Inc. — Class A^*		120		(3,352	)
Bally Technologies, Inc.^*		90		(3,406	)
Lowe’s Companies, Inc.		150		(3,964	)
Abercrombie & Fitch Co. — Class A		70		(4,109	)
H&R Block, Inc.		250		(4,185	)
LKQ Corp.^*		180		(4,338	)
Harman International Industries, Inc.		110		(5,150	)
AutoNation, Inc.^*		200		(7,074	)
Liberty Media Corp.- Capital^*		130		(9,577	)
Toll Brothers, Inc.^*		540		(10,676	)
Wynn Resorts Ltd.		90		(11,452	)
Lamar Advertising Co. — Class A^*		350		(12,929	)
Cablevision Systems Corp. — Class A		380		(13,152	)
Office Depot, Inc.^*		2,870		(13,288	)
Urban Outfitters, Inc.^*		460		(13,722	)
Harley-Davidson, Inc.		330		(14,022	)
Newell Rubbermaid, Inc.		750		(14,348	)
Marriott International, Inc. — Class A		410		(14,588	)
MDC Holdings, Inc.		580		(14,703	)
Weight Watchers International, Inc.		210		(14,721	)
NVR, Inc.^*		20		(15,120	)
International Game Technology		960		(15,581	)
ITT Educational Services, Inc.^*		220		(15,873	)
Meredith Corp.		480		(16,282	)
Home Depot, Inc.		460		(17,048	)
Morningstar, Inc.		310		(18,098	)
Chico’s FAS, Inc.		1,460		(21,754	)
DSW, Inc. — Class A^*		2,250		(89,910	)

Total Consumer Discretionary				(427,550	)

Industrials - (2.9)%
Textron, Inc.		40		(1,096	)
Fastenal Co.		20		(1,297	)
Dover Corp.		20		(1,315	)
Boeing Co.		30		(2,218	)
RR Donnelley & Sons Co.		120		(2,270	)
United Technologies Corp.		40		(3,386	)
United Parcel Service, Inc. — Class B		50		(3,716	)
Cooper Industries plc — Class A		60		(3,894	)
Manpower, Inc.		80		(5,030	)


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Multi-Hedge Strategies Fund


	Shares		Value
COMMON STOCK SOLD SHORT^† - (36.6)% (continued)
Industrials - (2.9)% (continued)
Gardner Denver, Inc.		80	$	(6,242	)
UTI Worldwide, Inc.		350		(7,084	)
Tyco International Ltd.		160		(7,163	)
BE Aerospace, Inc.^*		220		(7,817	)
United Continental Holdings, Inc.^*		350		(8,047	)
Spirit Aerosystems Holdings, Inc. — Class A^*		420		(10,781	)
Masco Corp.		910		(12,667	)
USG Corp.^*		770		(12,828	)
Alexander & Baldwin, Inc.		290		(13,239	)
Chicago Bridge & Iron Company N.V.		340		(13,824	)
WABCO Holdings, Inc.^*		230		(14,177	)
Delta Air Lines, Inc.^*		1,460		(14,308	)
PACCAR, Inc.		290		(15,182	)
AMR Corp.^*		2,390		(15,439	)
Expeditors International of Washington, Inc.		310		(15,543	)
Illinois Tool Works, Inc.		290		(15,579	)
Robert Half International, Inc.		520		(15,912	)
Oshkosh Corp.^*		450		(15,921	)
Alliant Techsystems, Inc.		230		(16,254	)
Kennametal, Inc.		420		(16,380	)
Lockheed Martin Corp.		210		(16,884	)
Terex Corp.^*		480		(17,779	)
KAR Auction Services, Inc.^*		1,160		(17,794	)
Landstar System, Inc.		390		(17,815	)
Avery Dennison Corp.		430		(18,043	)
Roper Industries, Inc.		210		(18,157	)
J.B. Hunt Transport Services, Inc.		410		(18,622	)
Graco, Inc.		410		(18,651	)
Southwest Airlines Co.		1,480		(18,692	)
Manitowoc Company, Inc.		910		(19,911	)
Con-way, Inc.		530		(20,824	)
Jacobs Engineering Group, Inc.^*		580		(29,829	)

Total Industrials				(511,610	)

Telecommunication Services - (3.5)%
Crown Castle International Corp.^*		10		(425	)
SBA Communications Corp. — Class A^*		60		(2,381	)
MetroPCS Communications, Inc.^*		200		(3,248	)
Sprint Nextel Corp.^*		2,240		(10,394	)
Leap Wireless International, Inc.^*		780		(12,082	)
NII Holdings, Inc.^*		330		(13,751	)
American Tower Corp. — Class A^*		310		(16,064	)
Level 3 Communications, Inc.^*		13,980		(20,551	)
CenturyLink, Inc.		12,840		(533,502	)

Total Telecommunication Services				(612,398	)

Information Technology - (3.6)%
Equinix, Inc.^*		10		(911	)
Accenture plc — Class A		20		(1,099	)
NVIDIA Corp.^*		90		(1,661	)
Corning, Inc.		100		(2,063	)
SunPower Corp. — Class A^*		140		(2,400	)
Alliance Data Systems Corp.^*		30		(2,577	)
Brocade Communications Systems, Inc.^*		450		(2,768	)
Cypress Semiconductor Corp.^*		200		(3,876	)
Ingram Micro, Inc. — Class A^*		220		(4,627	)
Jabil Circuit, Inc.		240		(4,903	)
Intersil Corp. — Class A		410		(5,104	)
Yahoo!, Inc.^*		370		(6,161	)
Monster Worldwide, Inc.^*		530		(8,427	)
Genpact, Ltd.^*		670		(9,702	)
International Rectifier Corp.^*		360		(11,902	)
Novellus Systems, Inc.^*		350		(12,996	)
ON Semiconductor Corp.^*		1,540		(15,200	)
Itron, Inc.^*		270		(15,239	)
Molex, Inc.		630		(15,826	)
Avnet, Inc.^*		470		(16,022	)
Rambus, Inc.^*		820		(16,236	)
Paychex, Inc.		520		(16,307	)
Ciena Corp.^*		630		(16,355	)
MEMC Electronic Materials, Inc.^*		1,270		(16,459	)
Zebra Technologies Corp. — Class A^*		420		(16,481	)
Cadence Design Systems, Inc.^*		1,740		(16,965	)
IAC/InterActiveCorp.^*		550		(16,990	)
Western Union Co.		820		(17,031	)
Adobe Systems, Inc.^*		520		(17,243	)
Teradyne, Inc.^*		970		(17,276	)
NCR Corp.^*		920		(17,333	)
ANSYS, Inc.^*		320		(17,341	)
Symantec Corp.^*		940		(17,428	)
Mastercard, Inc. — Class A		70		(17,620	)
QLogic Corp.^*		950		(17,622	)
Autodesk, Inc.^*		400		(17,644	)
Advanced Micro Devices, Inc.^*		2,100		(18,060	)
Lam Research Corp.^*		320		(18,131	)
LSI Corp.^*		2,690		(18,292	)
Varian Semiconductor Equipment Associates, Inc.^*		380		(18,495	)
National Instruments Corp.		570		(18,679	)
Electronic Arts, Inc.^*		960		(18,749	)
VeriFone Systems, Inc.^*		1,850		(101,658	)

Total Information Technology				(627,859	)

Energy - (3.8)%
Devon Energy Corp.		10		(918	)
Cobalt International Energy, Inc.^*		60		(1,009	)
Exxon Mobil Corp.		40		(3,365	)
Patterson-UTI Energy, Inc.		220		(6,466	)
Frontline Ltd.		270		(6,688	)
Plains Exploration & Production Co.^*		190		(6,884	)
Schlumberger Ltd.		80		(7,461	)
SandRidge Energy, Inc.^*		780		(9,984	)
Noble Energy, Inc.		140		(13,531	)
Weatherford International Ltd.^*		700		(15,820	)
Chesapeake Energy Corp.		530		(17,765	)
Ultra Petroleum Corp.^*		370		(18,222	)
Apache Corp.		140		(18,329	)
Unit Corp.^*		320		(19,824	)
Denbury Resources, Inc.^*		820		(20,008	)
Continental Resources, Inc.^*		280		(20,012	)
Superior Energy Services, Inc.^*		490		(20,090	)
Southwestern Energy Co.^*		470		(20,196	)


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Multi-Hedge Strategies Fund


	Shares		Value
COMMON STOCK SOLD SHORT^† — (36.6)% (continued)
Energy — (3.8)% (continued)
Comstock Resources, Inc.^*		660	$	(20,420	)
Range Resources Corp.		350		(20,461	)
Ensco plc ADR		1,220		(70,565	)
Holly Corp.		1,180		(71,697	)
Alpha Natural Resources, Inc.^*		4,300		(255,291	)

Total Energy				(665,006	)

Utilities — (4.0)%
Entergy Corp.		10		(672	)
DPL, Inc.		30		(822	)
American Water Works Company, Inc.		150		(4,208	)
Hawaiian Electric Industries, Inc.		290		(7,192	)
Alliant Energy Corp.		340		(13,236	)
Great Plains Energy, Inc.		670		(13,413	)
Vectren Corp.		560		(15,232	)
PG&E Corp.		370		(16,347	)
Calpine Corp.^*		1,050		(16,664	)
Public Service Enterprise Group, Inc.		530		(16,700	)
Exelon Corp.		410		(16,908	)
Dominion Resources, Inc.		390		(17,433	)
Southern Co.		460		(17,531	)
Integrys Energy Group, Inc.		350		(17,679	)
National Fuel Gas Co.		240		(17,760	)
PPL Corp.		710		(17,963	)
Wisconsin Energy Corp.		600		(18,300	)
Energen Corp.		300		(18,936	)
MDU Resources Group, Inc.		830		(19,065	)
Ormat Technologies, Inc.		1,070		(27,103	)
AES Corp.^*		2,220		(28,860	)
Constellation Energy Group, Inc.		950		(29,574	)
AGL Resources, Inc.		2,850		(113,544	)
Duke Energy Corp.		13,648		(247,711	)

Total Utilities				(712,853	)

Financials — (11)%
Regions Financial Corp.		40		(290	)
State Street Corp.		10		(449	)
Popular, Inc.^*		180		(524	)
Digital Realty Trust, Inc.		10		(581	)
Invesco Ltd.		30		(767	)
U.S. Bancorp		30		(793	)
Eaton Vance Corp.		30		(967	)
Commerce Bancshares, Inc.		30		(1,213	)
IntercontinentalExchange, Inc.^*		10		(1,235	)
Bank of Hawaii Corp.		30		(1,435	)
Wells Fargo & Co.		50		(1,585	)
SunTrust Banks, Inc.		90		(2,596	)
KeyCorp		310		(2,753	)
Corporate Office Properties Trust		80		(2,891	)
American National Insurance Co.		40		(3,167	)
Synovus Financial Corp.		1,590		(3,816	)
Principal Financial Group, Inc.		120		(3,853	)
Equity Residential		70		(3,949	)
Washington Federal, Inc.		250		(4,335	)
TD Ameritrade Holding Corp.		220		(4,591	)
Bank of New York Mellon Corp.		180		(5,377	)
Lazard Ltd. — Class A		130		(5,405	)
Janus Capital Group, Inc.		440		(5,487	)
MSCI, Inc. — Class A^*		150		(5,523	)
City National Corp.		100		(5,705	)
Allstate Corp.		180		(5,720	)
Charles Schwab Corp.		330		(5,950	)
Prudential Financial, Inc.		100		(6,158	)
Plum Creek Timber Company, Inc.		150		(6,542	)
Franklin Resources, Inc.		60		(7,505	)
BOK Financial Corp.		150		(7,752	)
First Citizens BancShares, Inc. — Class A		40		(8,023	)
Host Hotels & Resorts, Inc.		490		(8,629	)
HCP, Inc.		260		(9,864	)
First Horizon National Corp.		1,040		(11,658	)
Assured Guaranty Ltd.		800		(11,920	)
Jefferies Group, Inc.		490		(12,221	)
Brown & Brown, Inc.		490		(12,642	)
Kimco Realty Corp.		690		(12,655	)
Everest Re Group Ltd.		150		(13,227	)
Greenhill & Company, Inc.		210		(13,816	)
Cullen		240		(14,165	)
White Mountains Insurance Group Ltd.		40		(14,568	)
Citigroup, Inc.^*		3,560		(15,735	)
CB Richard Ellis Group, Inc. — Class A^*		590		(15,753	)
NYSE Euronext		460		(16,178	)
Capitol Federal Financial, Inc.		1,440		(16,229	)
East West Bancorp, Inc.		740		(16,250	)
Liberty Property Trust		500		(16,450	)
Markel Corp.^*		40		(16,578	)
Hartford Financial Services Group, Inc.		620		(16,697	)
American Express Co.		370		(16,724	)
Weyerhaeuser Co.		690		(16,974	)
MetLife, Inc.		380		(16,997	)
TCF Financial Corp.		1,080		(17,129	)
Regency Centers Corp.		400		(17,392	)
Vornado Realty Trust		200		(17,500	)
SLM Corp.^*		1,160		(17,748	)
Duke Realty Corp.		1,270		(17,793	)
Marsh & McLennan Companies, Inc.		600		(17,886	)
AON Corp.		340		(18,006	)
Progressive Corp.		860		(18,172	)
Genworth Financial, Inc. — Class A^*		1,360		(18,306	)
XL Group plc — Class A		750		(18,450	)
Leucadia National Corp.		510		(19,145	)
W.R. Berkley Corp.		600		(19,326	)
Associated Banc-Corp.		1,310		(19,454	)
Lincoln National Corp.		650		(19,526	)
Valley National Bancorp		1,660		(23,174	)
Fulton Financial Corp.		2,100		(23,331	)
BB&T Corp.		850		(23,333	)
TFS Financial Corp.		2,270		(24,107	)
People’s United Financial, Inc.		2,070		(26,041	)
Nara Bancorp, Inc.^*		5,310		(51,082	)
Comerica, Inc.		3,580		(131,458	)
First Niagara Financial Group, Inc.		10,170		(138,109	)
Hancock Holding Co.		6,280		(206,235	)
Ventas, Inc.		5,260		(285,618	)


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Multi-Hedge Strategies Fund


	Shares		Value
COMMON STOCK SOLD SHORT^† - (36.6)% (continued)
Financials — (11)% (continued)
Bank of Montreal		4,890	$	(317,752	)

Total Financials				(1,938,940	)

Total Common Stock Sold Short
(Proceeds $5,721,031)				(6,430,435	)

EXCHANGE TRADED FUNDS SOLD SHORT — (12%)
iShares MSCI Singapore Index Fund		40		(547	)
iShares MSCI South Africa Index Fund		19		(1,386	)
iShares MSCI Belgium Investable Market Index Fund		179		(2,526	)
iShares MSCI Japan Index Fund		357		(3,681	)
iShares MSCI Taiwan Index Fund		286		(4,253	)
Market Vectors Gold Miners ETF		104		(6,246	)
iShares MSCI Turkey Index Fund		130		(8,299	)
iShares MSCI Hong Kong Index Fund		450		(8,519	)
iPath MSCI India Index ETN		220		(15,954	)
iShares MSCI Brazil Index Fund		240		(18,595	)
iShares MSCI BRIC Index Fund		390		(19,621	)
iShares MSCI Germany Index Fund		880		(22,836	)
iShares MSCI Mexico Investable Market Index Fund		390		(24,511	)
Powershares QQQ Trust Series 1		569		(32,678	)
iShares MSCI EAFE Index Fund		550		(33,050	)
iShares Russell 1000 Growth Index Fund		887		(53,637	)
iShares MSCI Spain Index Fund		1,273		(54,001	)
iShares MSCI Italy Index Fund		3,170		(58,899	)
iShares MSCI EMU Index Fund		1,790		(69,345	)
iShares Dow Jones US Real Estate Index Fund		1,957		(116,246	)
iShares Russell 1000 Value Index Fund		2,669		(183,280	)
iShares Russell 2000 Index Fund		3,943		(331,882	)
SPDR S&P 500 ETF Trust		7,924		(1,050,009	)

Total Exchange Traded Funds Sold Short (Proceeds $1,759,671)				(2,120,001	)

Cash & Other Assets, Less Liabilities - 52.4%
%				9,223,771

Total Net Assets - 100.0%			$	17,602,416


			Unrealized
	Contracts		Gain (Loss)
COMMODITY FUTURES CONTRACTS PURCHASED^†
December 2011 Cotton #2 Futures Contracts
(Aggregate Value of Contracts $530,000)		8	$	177,961
October 2011 RBOB Gasoline Futures Contracts
(Aggregate Value of Contracts $363,409)		3		95,195
September 2011 SoyBean Futures Contracts
(Aggregate Value of Contracts $421,875)		6		71,101
July 2011 Sugar #11 Futures Contracts
(Aggregate Value of Contracts $308,616)		11		60,264
September 2011 Corn Futures Contracts
(Aggregate Value of Contracts $360,388)		11		52,224
October 2011 Lean Hogs Futures Contracts
(Aggregate Value of Contracts $260,680)		7		45,543
June 2012 WTI Crude Futures Contracts
(Aggregate Value of Contracts $427,440)		4		40,133
September 2011 Coffee Futures Contracts
(Aggregate Value of Contracts $101,512)		1		31,971
May 2011 Soybean Oil Futures Contracts
(Aggregate Value of Contracts $105,660)		3		26,952
May 2011 Silver Futures Contracts
(Aggregate Value of Contracts $188,775)		1		23,847
June 2011 Live Cattle Futures Contracts
(Aggregate Value of Contracts $580,680)		12		10,992
April 2012 Natural Gas Futures Contracts
(Aggregate Value of Contracts $292,440)		6		10,766
May 2011 LME Lead Futures Contracts
(Aggregate Value of Contracts $67,838)		1		2,909
June 2011 LME Primary Aluminum Futures Contracts
(Aggregate Value of Contracts $132,238)		2		2,306
June 2011 Heating Oil Futures Contracts
(Aggregate Value of Contracts $130,733)		1		1,576
June 2011 Gold 100 Oz Futures Contracts
(Aggregate Value of Contracts $143,770)		1		887


Consolidated
Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		Multi-Hedge Strategies Fund


			Unrealized
	Contracts		Gain (Loss)
COMMODITY FUTURES CONTRACTS PURCHASED^† (continued)
December 2011 Wheat Futures Contracts
(Aggregate Value of Contracts $259,950)		6	$	(29,070	)

(Total Aggregate Value of Contracts $4,676,004)			$	625,557

FUTURES CONTRACTS PURCHASED^†
June 2011 Russell 2000 Index Mini Futures Contracts
(Aggregate Value of Contracts $1,598,280)		19		78,912
June 2011 S&P MidCap 400 Index Mini Futures Contracts
(Aggregate Value of Contracts $1,580,160)		16		44,929
June 2011 U.S. Treasury 10 Year Note Futures Contracts
(Aggregate Value of Contracts $3,685,125)		31		2,861
August 2011 Volatility Index Futures Contracts
(Aggregate Value of Contracts $3,315,200)		148		(185,884	)

(Total Aggregate Value of Contracts $10,178,765)			$	(59,182	)

FUTURES CONTRACTS SOLD SHORT^†
April 2011 Volatility Index Futures Contracts
(Aggregate Value of Contracts $1,756,300)		91		153,246
June 2011 U.S. Treasury 2 Year Note Futures Contracts
(Aggregate Value of Contracts $13,297,047)		61		865
June 2011 S&P 500 Index Mini Futures Contracts
(Aggregate Value of Contracts $3,237,063)		49		(46,894	)

(Total Aggregate Value of Contracts $18,290,410)			$	107,217

COMMODITY FUTURES CONTRACTS SOLD SHORT^†
March 2012 Cocoa Futures Contracts
(Aggregate Value of Contracts $61,080)		2		(447	)
June 2011 LME Zinc Futures Contracts
(Aggregate Value of Contracts $58,962)		1		(722	)
March 2012 Sugar #11 Futures Contracts
(Aggregate Value of Contracts $265,776)		10		(5,153	)
July 2011 Corn Futures Contracts
(Aggregate Value of Contracts $280,400)		8		(9,089	)
October 2011 Live Cattle Futures Contracts
(Aggregate Value of Contracts $250,800)		5		(12,816	)
December 2011 Natural Gas Futures Contracts
(Aggregate Value of Contracts $399,840)		8		(13,275	)
May 2011 RBOB Gasoline Futures Contracts
(Aggregate Value of Contracts $260,425)		2		(13,975	)
September 2011 Wheat Futures Contracts
(Aggregate Value of Contracts $251,400)		6		(15,470	)
July 2011 Soybean Futures Contracts
(Aggregate Value of Contracts $284,200)		4		(15,763	)
May 2011 WTI Crude Futures Contracts
(Aggregate Value of Contracts $319,770)		3		(18,279	)
May 2011 Cotton #2 Futures Contracts
(Aggregate Value of Contracts $300,345)		3		(24,243	)
May 2011 Lean Hogs Futures Contracts
(Aggregate Value of Contracts $247,380)		6		(46,300	)

(Total Aggregate Value of Contracts $2,980,378)			$	(175,532	)

CURRENCY FUTURES CONTRACTS SOLD SHORT^†
June 2011 Euro Mini Futures Contracts
(Aggregate Value of Contracts $176,912)		2		(3,410	)


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		All or a portion of this security is pledged as short security collateral at March 31, 2011.

2		Repurchase Agreements — See Note 2.

ADR		American Depositary Receipt

plc		Public Limited Company

REIT		Real Estate Investment Trust


Consolidated
Schedule of Investments		Specialty Fund
March 31, 2011 (Unaudited)		Commodities Strategy Fund


	Face
	Amount		Value
FEDERAL AGENCY DISCOUNT NOTES^†† - 28.7%
Federal Home Loan Bank¹
0.09% due 04/06/11	$	2,000,000	$	1,999,976
Fannie Mae²
0.07% due 05/04/11		1,000,000		999,936
0.08% due 05/10/11		1,000,000		999,913
Farmer Mac¹
0.07% due 04/12/11		1,000,000		999,979
Federal Farm Credit Bank¹
0.07% due 04/19/11		1,000,000		999,965

Total Federal Agency Discount Notes (Cost $5,999,769)				5,999,769

REPURCHASE AGREEMENTS^††,3 - 60.2%
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11		2,786,721		2,786,721
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		2,510,405		2,510,405
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		2,510,405		2,510,405
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		2,510,405		2,510,405
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11		2,245,937		2,245,937

Total Repurchase Agreements (Cost $12,563,873)				12,563,873

Total Investments - 88.9% (Cost $18,563,642)			$	18,563,642
Cash & Other Assets, Less Liabilities - 11.1%				2,328,806

Total Net Assets - 100.0%			$	20,892,448


			Unrealized
	Contracts		Gain
COMMODITY FUTURES CONTRACTS PURCHASED^†
April 2011 Goldman Sachs IDX Futures Contracts
(Aggregate Value of Contracts $19,447,250)		107	$	51,806
June 2011 WTI Crude Futures Contracts
(Aggregate Value of Contracts $1,392,300)		13		2,924

(Total Aggregate Value of Contracts $20,839,550)			$	54,730


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.

2		On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.

3		Repurchase Agreements — See Note 2.



Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		U.S. Long Short Momentum Fund


	Shares		Value
COMMON STOCKS^† - 98.8%
Industrials - 49.7%
General Electric Co.		66,620	$	1,335,731
Siemens AG ADR		7,690		1,056,145
Fastenal Co.		12,340		800,002
3M Co.		8,240		770,440
WW Grainger, Inc.		5,480		754,486
Caterpillar, Inc.		6,560		730,456
Fluor Corp.		9,770		719,658
Deere & Co.		5,570		539,677
Jacobs Engineering Group, Inc.^*		9,730		500,414
KBR, Inc.		13,220		499,319
Masco Corp.		35,790		498,197
Danaher Corp.		9,530		494,607
Owens Corning^*		12,550		451,675
MSC Industrial Direct Co. — Class A		6,380		436,839
WESCO International, Inc.^*		6,980		436,250
Illinois Tool Works, Inc.		7,980		428,686
Quanta Services, Inc.^*		19,000		426,170
Tyco International Ltd.		9,460		423,524
Chicago Bridge & Iron Company N.V.		10,330		420,018
Cummins, Inc.		3,580		392,440
URS Corp.^*		8,240		379,452
Lennox International, Inc.		7,130		374,895
United Rentals, Inc.^*		11,170		371,738
Union Pacific Corp.		3,750		368,738
Eaton Corp.		6,560		363,686
Armstrong World Industries, Inc.		7,740		358,130
Textainer Group Holdings Ltd.		9,430		350,419
Watsco, Inc.		5,020		349,944
Aecom Technology Corp.^*		12,550		348,012
PACCAR, Inc.		6,480		339,228
Ingersoll-Rand plc		7,020		339,136
GATX Corp.		8,770		339,048
Parker Hannifin Corp.		3,480		329,486
RSC Holdings, Inc.^*		22,740		327,001
Shaw Group, Inc.^*		9,000		318,690
Canadian National Railway Co.		4,170		313,876
Dover Corp.		4,450		292,543
AO Smith Corp.		6,540		289,984
Applied Industrial Technologies, Inc.		8,670		288,364
EMCOR Group, Inc.^*		9,270		287,092
Joy Global, Inc.		2,900		286,549
CSX Corp.		3,630		285,318
CNH Global N.V.		5,820		282,561
USG Corp.^*		16,690		278,055
TAL International Group, Inc.		7,530		273,113
Norfolk Southern Corp.		3,900		270,153
Textron, Inc.		9,550		261,575
Kaman Corp.		7,190		253,088
Aircastle Ltd.		20,770		250,694
Simpson Manufacturing Company, Inc.		8,500		250,410
MasTec, Inc.^*		11,990		249,392
Beacon Roofing Supply, Inc.^*		11,930		244,207
Bucyrus International, Inc. — Class A		2,420		221,309
Pall Corp.		3,840		221,222
Flowserve Corp.		1,670		215,096
Tutor Perini Corp.		8,690		211,688
Granite Construction, Inc.		7,120		200,072
Griffon Corp.^*		14,860		195,112
Insituform Technologies, Inc. — Class A^*		7,200		192,600
Interline Brands, Inc.^*		9,330		190,332
Quanex Building Products Corp.		9,390		184,326
Trex Company, Inc.^*		5,350		174,517
Universal Forest Products, Inc.		4,750		174,087
Ameron International Corp.		2,350		164,007
Layne Christensen Co.^*		4,610		159,045
Dycom Industries, Inc.^*		8,950		155,193
Carlisle Companies, Inc.		3,480		155,034
Hertz Global Holdings, Inc.^*		8,720		136,294
Kansas City Southern^*		2,330		126,869
Apogee Enterprises, Inc.		9,580		126,360
J.B. Hunt Transport Services, Inc.		2,770		125,813
Raven Industries, Inc.		1,710		105,028
NCI Building Systems, Inc.^*		7,960		100,853
Ryder System, Inc.		1,700		86,020
Genesee & Wyoming, Inc. — Class A^*		1,390		80,898
Landstar System, Inc.		1,730		79,026
Con-way, Inc.		1,990		78,187
Old Dominion Freight Line, Inc.^*		2,130		74,742
Dollar Thrifty Automotive Group, Inc.^*		1,110		74,070
Avis Budget Group, Inc.^*		4,120		73,789
Amerco, Inc.^*		43		4,171

Total Industrials				26,115,071

Consumer Discretionary - 22.9%
Amazon.com, Inc.^*		8,529		1,536,329
Johnson Controls, Inc.		21,460		892,092
Priceline.com, Inc.^*		1,716		869,051
Netflix, Inc.^*		2,634		625,127
Magna International, Inc. — Class A		12,760		611,332
BorgWarner, Inc.^*		6,750		537,908
Liberty Media Corp — Interactive^*		31,535		505,821
TRW Automotive Holdings Corp.^*		8,110		446,699
Expedia, Inc.		18,283		414,293
Autoliv, Inc.		5,550		411,977
Lear Corp.		7,840		383,141
Gentex Corp.		12,010		363,302
Goodyear Tire & Rubber Co.^*		23,390		350,382
Federal-Mogul Corp.^*		11,950		297,555
Tenneco, Inc.^*		6,690		283,990
NIKE, Inc. — Class B		3,610		273,277
Dana Holding Corp.^*		15,340		266,763
HSN, Inc.^*		7,170		229,655
Shutterfly, Inc.^*		4,386		229,651
Cooper Tire & Rubber Co.		8,520		219,390
Coach, Inc.		3,810		198,272
VF Corp.		1,700		167,501
American Axle & Manufacturing Holdings, Inc.^*		13,150		165,559
Blue Nile, Inc.^*		2,768		149,444
Modine Manufacturing Co.^*		9,170		148,004



Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		U.S. Long Short Momentum Fund


	Shares		Value
COMMON STOCKS^† - 98.8% (continued)
Consumer Discretionary - 22.9% (continued)
Polo Ralph Lauren Corp. — Class A		1,160	$	143,434
Iconix Brand Group, Inc.^*		6,430		138,116
Fossil, Inc.^*		1,340		125,491
Phillips-Van Heusen Corp.		1,640		106,649
Overstock.com, Inc.^*		6,387		100,404
PetMed Express, Inc.		6,241		98,982
Deckers Outdoor Corp.^*		1,080		93,042
NutriSystem, Inc.		6,076		88,041
Hanesbrands, Inc.^*		3,040		82,202
Under Armour, Inc. — Class A^*		1,200		81,660
Warnaco Group, Inc.^*		1,400		80,066
Columbia Sportswear Co.		1,210		71,898
Wolverine World Wide, Inc.		1,850		68,968
CROCS, Inc.^*		3,800		67,792
Carter’s, Inc.^*		2,280		65,276
Vitacost.com, Inc.^{*,†††,1}		15,999		8,000

Total Consumer Discretionary				11,996,536

Energy - 15.5%
Schlumberger Ltd.		10,330		963,376
Halliburton Co.		11,940		595,090
National Oilwell Varco, Inc.		6,270		497,023
Baker Hughes, Inc.		6,680		490,513
Tenaris S.A. ADR		8,920		441,183
Transocean Ltd.^*		5,290		412,356
Weatherford International Ltd.^*		14,630		330,638
Exxon Mobil Corp.		3,770		317,170
Cameron International Corp.^*		5,460		311,766
Noble Corp.		6,450		294,249
FMC Technologies, Inc.^*		2,950		278,716
Diamond Offshore Drilling, Inc.		3,490		271,173
Nabors Industries Ltd.^*		8,570		260,357
Pride International, Inc.^*		5,580		239,661
Helmerich & Payne, Inc.		3,470		238,354
Chevron Corp.		2,110		226,677
McDermott International, Inc.^*		8,520		216,323
Petroleo Brasileiro S.A. ADR		4,690		189,617
Total S.A. ADR		3,060		186,568
BP plc ADR		4,010		177,002
Royal Dutch Shell plc ADR		2,420		176,321
ConocoPhillips		2,090		166,907
Occidental Petroleum Corp.		1,380		144,196
Canadian Natural Resources Ltd.		2,310		114,183
Apache Corp.		850		111,282
Anadarko Petroleum Corp.		1,210		99,123
Marathon Oil Corp.		1,820		97,024
Devon Energy Corp.		1,040		95,441
EOG Resources, Inc.		740		87,697
Hess Corp.		990		84,358

Total Energy				8,114,344

Utilities - 4.3%
Oneok, Inc.		3,980		266,182
National Fuel Gas Co.		3,350		247,900
Energen Corp.		3,360		212,083
UGI Corp.		5,810		191,149
AGL Resources, Inc.		4,400		175,296
Questar Corp.		10,010		174,674
Atmos Energy Corp.		5,110		174,251
Nicor, Inc.		2,880		154,656
Piedmont Natural Gas Company, Inc.		4,840		146,894
WGL Holdings, Inc.		3,600		140,400
New Jersey Resources Corp.		3,090		132,716
Southwest Gas Corp.		3,400		132,498
Northwest Natural Gas Co.		2,350		108,406

Total Utilities				2,257,105

Health Care - 3.6%
Cerner Corp.^*		4,560		507,072
Allscripts Healthcare Solutions, Inc.^*		15,800		331,642
SXC Health Solutions Corp.^*		5,700		312,360
athenahealth, Inc.^*		4,640		209,403
Emdeon, Inc. — Class A^*		11,647		187,633
Medidata Solutions, Inc.^*		5,180		132,453
MedAssets, Inc.^*		7,342		112,112
Quality Systems, Inc.		1,296		108,009
Computer Programs & Systems, Inc.		143		9,192

Total Health Care				1,909,876

Financials - 2.8%
Brookfield Asset Management, Inc. — Class A		12,810		415,812
Brookfield Properties Corp.		15,440		273,597
CB Richard Ellis Group, Inc. — Class A^*		10,160		271,272
Jones Lang LaSalle, Inc.		1,900		189,506
Forestar Group, Inc.^*		8,492		161,518
Forest City Enterprises, Inc. — Class A^*		7,840		147,627
China Housing & Land Development, Inc.^*		12,360		24,164

Total Financials				1,483,496

Total Common Stocks (Cost $44,515,507)				51,876,428


Total Investments - 98.8% (Cost $44,515,507)			$	51,876,428
Cash & Other Assets, Less Liabilities - 1.2%				634,558

Total Net Assets - 100.0%			$	52,510,986


			Unrealized
	Contracts		Loss
FUTURES CONTRACTS SOLD SHORT^†
June 2011 S&P 500 Index Mini Futures Contracts (Aggregate Value of Contracts $660,625)		10	$	(12,929	)


*		Non-income producing security

†		Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.

†††		Value determined based on Level 3 inputs — See Note 3.

1		Illiquid security.

ADR		American Depositary Receipt

plc		Public Limited Company



Schedule of Investments		Alternatives Funds
March 31, 2011 (Unaudited)		International Long Short Select Fund


	Shares		Value
COMMON STOCKS^† - 89.2%
Consumer Discretionary - 18.2%
Valeo S.A.¹		2,922	$	170,441
Kabel Deutschland Holding AG^*		2,772		146,939
Time Warner Cable, Inc. — Class A¹		1,936		138,114
Kingfisher plc		28,412		112,080
Pioneer Corp.		26,300		109,392
Ford Motor Co.^*,1		2,771		41,316

Total Consumer Discretionary				718,282

Financials - 13.0%
BNP Paribas¹		2,392		174,971
Julius Baer Group Ltd.¹		4,029		174,865
Credit Suisse Group AG¹		3,890		165,317

Total Financials				515,153

Materials - 12.8%
Exxaro Resources Ltd.¹		6,534		159,836
Osisko Mining Corp.^*,2		9,500		136,792
Koninklijke DSM N.V.		2,222		136,539
Mongolian Mining Corp.^*		57,500		73,478

Total Materials				506,645

Energy - 11.1%
CNOOC Ltd.		66,000		166,304
El Paso Corp.¹		8,200		147,600
Royal Dutch Shell plc — Class A		3,472		126,103

Total Energy				440,007

Information Technology - 9.9%
Apple, Inc.^*,1		364		126,836
Sage Group plc		21,651		96,593
STMicroelectronics N.V.		7,322		90,701
Wistron Corp.		47,434		75,088

Total Information Technology				389,218

Industrials - 6.7%
Yangzijiang Shipbuilding Holdings Ltd.		63,000		90,464
Neptune Orient Lines Ltd.		58,515		90,059
Amada Company Ltd.¹		10,000		83,428

Total Industrials				263,951

Telecommunication Services - 6.4%
Vodafone Group plc		46,839		132,623
Koninklijke KPN N.V.		7,125		121,384

Total Telecommunication Services				254,007

Consumer Staples - 5.3%
Pernod-Ricard S.A.		1,177		109,935
Marine Harvest ASA		80,000		99,387

Total Consumer Staples				209,322

Health Care - 3.6%
Fresenius SE & Company KGaA		1,528		141,354
Utilities - 2.2%
Veolia Environnement S.A.¹		2,769		86,106


Total Common Stocks
(Cost $3,147,596)				3,524,045


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,3 - 24.8%
BNP Paribas Securities Corp.
issued 03/31/11 at 0.05% due 04/01/11	$	217,774	$	217,774
HSBC Group
issued 03/31/11 at 0.07% due 04/01/11		196,181		196,181
Mizuho Financial Group, Inc.
issued 03/31/11 at 0.06% due 04/01/11		196,181		196,181
Deutsche Bank
issued 03/31/11 at 0.05% due 04/01/11		196,181		196,181
Credit Suisse Group
issued 03/31/11 at 0.05% due 04/01/11		175,514		175,514

Total Repurchase Agreements (Cost $981,831)				981,831


Total Long Investments - 114.0% (Cost $4,129,427)			$	4,505,876


	Shares		Value
COMMON STOCK SOLD SHORT^† - (36.9)%
Consumer Discretionary — (1.6)%
Esprit Holdings Ltd.		13,900		(63,795	)

Industrials — (3.2)%
GS Yuasa Corp.		19,000		(126,309	)

Consumer Staples — (4.4)%
Kao Corp.		7,000		(174,611	)

Information Technology — (4.9)%
Logitech International S.A.^*		4,100		(74,333	)
Foxconn International Holdings Ltd.^*		196,105		(117,736	)

Total Information Technology				(192,069	)

Materials — (5.8)%
Fibria Celulose S.A. ADR^*		6,400		(105,088	)
JFE Holdings, Inc.		4,200		(122,892	)

Total Materials				(227,980	)

Financials — (7.1)%
Bankinter S.A.		8,741		(59,962	)
Banco de Sabadell S.A.		18,179		(79,539	)
Commerzbank AG		18,118		(141,210	)

Total Financials				(280,711	)

Energy — (9.9)%
Overseas Shipholding Group, Inc.		1,400		(44,996	)
Neste Oil Oyj		7,137		(147,181	)
Showa Shell Sekiyu KK		19,300		(201,387	)

Total Energy				(393,564	)

Total Common Stock Sold Short (Proceeds $1,381,966)				(1,459,039	)


Cash & Other Assets, Less Liabilities - 22.9%				905,901

Total Net Assets - 100.0%			$	3,952,738

Schedule of Investments


March 31, 2011 (Unaudited)		DWA Flexible Allocation Fund


	Shares		Value
EXCHANGE TRADED FUNDS^† - 99.4%
SPDR S&P Oil & Gas Exploration & Production ETF		35,200	$	2,270,400
iShares Dow Jones US Oil Equipment & Services Index Fund		33,210		2,252,302
First Trust Dow Jones Internet Index Fund		58,800		2,137,968
Vanguard Energy ETF		18,017		2,103,124
PowerShares DB Agriculture Fund		60,900		2,085,216
SPDR S&P Metals & Mining ETF		27,750		2,061,270
iShares Russell 2000 Growth Index Fund		21,150		2,016,441
iShares S&P MidCap 400 Growth Index Fund		18,250		2,013,888
PowerShares DB Commodity Index Tracking Fund^*		63,200		1,928,232
iShares Dow Jones US Basic Materials Sector Index Fund		23,500		1,921,360
iShares S&P SmallCap 600		23,200		1,833,264
SPDR S&P Semiconductor ETF		31,000		1,815,670

Total Exchange Traded Funds
(Cost $22,256,499)				24,439,135


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,1 - 23.7%
BNP Paribas Securities Corp. issued 03/31/11 at 0.05% due 04/01/11	$	1,291,353		1,291,353
HSBC Group issued 03/31/11 at 0.07% due 04/01/11		1,163,309		1,163,309
Mizuho Financial Group, Inc. issued 03/31/11 at 0.06% due 04/01/11		1,163,309		1,163,309
Deutsche Bank issued 03/31/11 at 0.05% due 04/01/11		1,163,309		1,163,309
Credit Suisse Group issued 03/31/11 at 0.05% due 04/01/11		1,040,756		1,040,756

Total Repurchase Agreements
(Cost $5,822,036)				5,822,036


Total Investments - 123.1% (Cost $28,078,535)			$	30,261,171
Liabilities, Less Cash & Other Assets - (23.1)%				(5,679,916	)

Total Net Assets - 100.0%			$	24,581,255


*		Non-income producing security

†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreements — See Note 2.

Schedule of Investments


March 31, 2011 (unaudited)		DWA Sector Rotation Fund


	Shares		Value
EXCHANGE TRADED FUNDS^† - 100.2%
United States of America - 80.3%
PowerShares Dynamic Energy Exploration & Production Portfolio		154,329	$	4,268,741
PowerShares Dynamic Energy Sector Portfolio		92,750		4,076,363
PowerShares Dynamic Basic Materials Sector Portfolio		97,233		3,798,893
Powershares Dynamic Leisure & Entertainment Portfolio		187,513		3,588,999
iShares Dow Jones US Oil Equipment & Services Index Fund		48,700		3,302,834
SPDR S&P Semiconductor ETF		53,200		3,115,924
SPDR S&P Retail ETF		60,950		3,096,260
Powershares Dynamic Semiconductors Portfolio		168,040		2,950,782

Total United States of America				28,198,796

International - 19.9%
SPDR S&P International Industrials Sector ETF		119,700		3,526,601
SPDR S&P International Materials Sector ETF		111,250		3,484,350

Total International				7,010,951

Total Exchange Traded Funds
(Cost $30,237,404)				35,209,747


	Face
	Amount		Value
REPURCHASE AGREEMENTS^††,1 - 0.0%
BNP Paribas Securities Corp. issued 03/31/11 at 0.05% due 04/01/11	$	39		39
HSBC Group issued 03/31/11 at 0.07% due 04/01/11		36		36
Mizuho Financial Group, Inc. issued 03/31/11 at 0.06% due 04/01/11		36		36
Deutsche Bank issued 03/31/11 at 0.05% due 04/01/11		36		36
Credit Suisse Group issued 03/31/11 at 0.05% due 04/01/11		32		32

Total Repurchase Agreements (Cost $179)				179


Total Investments - 100.2% (Cost $30,237,583)			$	35,209,926
Liabilities, Less Cash & Other Assets - (0.2)%				(65,908	)

Total Net Assets - 100.0%			$	35,144,018


†		Value determined based on Level 1 inputs — See Note 3.

††		Value determined based on Level 2 inputs — See Note 3.

1		Repurchase Agreements — See Note 2.

For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semiannual or annual shareholder report.

Consolidation of Subsidiary

Each of the consolidated Schedules of Investment of the Managed Futures Strategy Fund, the Multi-Hedge Strategies Fund and the Commodities Strategy Fund include the accounts of a wholly-owned and controlled Cayman Islands subsidiary (the “Subsidiary”). Significant inter-company accounts and transactions have been eliminated in consolidation for the Funds.

Each Fund may invest up to 25% of its total assets in its Subsidiary which acts as an investment vehicle in order to effect certain investments consistent with the Fund’s investment objectives and policies.

1. Significant Accounting Policies

The following significant accounting policies are in conformity with U.S. generally accepted accounting principles and are consistently followed by the Trust. This requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. All time references are based on Eastern Time.

A. Equity securities listed on an exchange (New York Stock Exchange (“NYSE”) or American Stock Exchange) are valued at the last quoted sales price as of the close of business on the NYSE, usually 4:00 p.m. on the valuation date. Equity securities listed on the NASDAQ market system are valued at the NASDAQ Official Closing Price on the valuation date.

Listed options held by the Trust are valued at their last bid price for twice a day pricing or the Official Settlement Price listed by the exchange. Long options are valued using the bid price and short options are valued using the ask price. In the event that a settlement price is not available, fair valuation is enacted. Over-the-Counter options held by the Trust are valued using the average bid price (for long options), or average ask price (for short options) obtained from one or more security dealers.

The value of futures contracts purchased and sold by the Trust is accounted for using the unrealized gain or loss on the contracts that is determined by marking the contracts to their current realized settlement prices. Financial futures contracts are valued at the last quoted sales price on the valuation date. In the event that the exchange for a specific futures contract closes earlier than 4:00 p.m., the futures contract is valued at the Official Settlement Price of the exchange. However, the underlying securities from which the futures contract value is derived are monitored until 4:00 p.m. to determine if fair valuation would provide a more accurate valuation.

The U.S. Government Money Market Fund values debt securities at amortized cost pursuant to Rule 2a-7 of the 1940 Act which approximates market value. Debt securities in a non 2a-7 money market fund with a maturity greater than 60 days are valued at the last traded fill price at the close of business, unless no trades were executed. If there are no trades, securities are valued at the reported bid price, at the close of business. Debt securities, with a maturity of 60 days or less are valued at amortized cost, which approximates market value.

Open-ended investment companies (“Mutual Funds”) are valued at their NAV as of the close of business, usually 4:00 p.m. on the valuation date. Exchange Traded Funds (“ETFs”) and closed-end investment companies are valued at the last quoted sales price.

The value of domestic equity index and credit default swap agreements entered into by a Fund is accounted for using the unrealized gain or loss on the agreements that is determined by marking the agreements to the last quoted value of the index that the swap pertains to at the close of the NYSE. The swap’s market value is then adjusted to include dividends accrued, financing charges and/or interest associated with the swap agreements.

The value of currency index swap agreements entered into by a Fund is accounted for using the unrealized gain or loss on the agreements that is determined by marking the agreements to the Broker quote.

The value of foreign equity swap agreements entered into by a Fund is accounted for using the unrealized gain or loss on the agreements that is determined by marking the agreements to the price, at which orders are being filled at the close of the NYSE. In the event that no order is filled at 4:00 p.m., the security dealer provides a fair value quote, at which the swap agreement is valued. The swap’s market value is then adjusted to include dividends accrued, financing charges and/or interest associated with the swap agreements.

Investments, for which market quotations are not readily available, are fair valued as determined in good faith by Rydex Investments under the direction of the Board of Trustees using methods established or ratified by the Board of Trustees. These methods include, but are not limited to: (i) general information as to how these securities and assets trade; (ii) in connection with futures contracts and options thereupon, and other derivative investments, information as to how (a) these contracts and other derivative investments trade in the futures or other derivative markets, respectively, and (b) the securities underlying these contracts and other derivative investments trade in the cash market; and (iii) other information and considerations, including current values in related markets.

B. Securities transactions are recorded on the trade date for financial reporting purposes. Realized gains and losses from securities transactions are recorded using the identified cost basis. Proceeds from lawsuits related to investment holdings are recorded as realized gains in the respective Fund. Dividend income is recorded on the ex-dividend date, net of applicable taxes withheld by foreign countries. Taxable non-cash dividends are recorded as dividend income. Interest income, including amortization of premiums and accretion of discount, is accrued on a daily basis. Distributions received from investments in REITs are recorded as dividend income on the ex-dividend date, subject to reclassification upon notice of the character of such distribution by the issuer.

C. Net investment income is computed and dividends are declared daily in the Government Long Bond 1.2x Strategy Fund and the U.S. Government Money Market Fund. Dividends are reinvested in additional shares unless shareholders request payment in cash. Distributions of net investment income in the remaining Funds, if any, and distributions of net realized capital gains in all Funds, if any, are declared at least annually and are recorded on the ex-dividend date and are determined in accordance with income tax regulations which may differ from U.S. generally accepted accounting principles. These differences are primarily due to differing treatments for items such as deferral of wash sales and post-October losses and regulated futures contracts and options. Net investment income and loss, net realized gains and losses, and net assets are not affected by these differences.

D. A short sale is a transaction in which a Fund sells an equity or fixed income security it doesn’t own. If the security sold short decreases in price between the time the Fund sells the security and closes its short position, that Fund will realize a gain on the transaction. Conversely, if the security increases in price during the period, that Fund will realize a loss on the transaction.

When a Fund engages in a short sale of an equity or fixed income security, an amount equal to the proceeds is reflected as an asset and an equivalent liability. The amount of the liability is subsequently marked-to-market to reflect the market value of the short sale. The Fund maintains a segregated account of cash and/or securities as collateral for short sales. The Fund is exposed to market risk based on the amount, if any, that the market value of the security exceeds the market value of the securities in the segregated account. Fees, if any, paid to brokers to borrow securities in connection with short sales are considered part of the cost of short sale transactions. In addition, the Fund must pay out the dividend rate of the equity or coupon rate of the treasury obligation to the lender and records this as an expense. Short dividends or interest expense is a cost associated with the investment objective of short sales transactions, rather than an operational cost associated with the day-to-day management of any mutual fund. The Funds may also receive rebate income from the broker resulting from the investment of the proceeds from securities sold short or incur rebate charges to borrow certain securities.

E. Managed Futures Strategy Fund invests in options to gain index exposure. Upon the purchase of an option, the premium paid is recorded as an investment, the value of which is marked-to-market daily. If a purchased option expires, the Fund realizes a loss in the amount of the cost of the option. When the Fund enters into a closing sale transaction, it realizes a gain or loss depending on whether the proceeds from the closing sale transaction are greater or less than the cost of the option. If the Fund exercises a put option, it realizes a gain or loss from the sale of the underlying security and the proceeds from such sale will be decreased by the premium originally paid. When the Fund exercises a call option, the cost of the security purchased by the Fund upon exercise increases by the premium originally paid.

Multi-Hedge Strategies Fund writes (sells) options for hedging, income and speculation purposes. When the Fund writes (sells) an option, an amount equal to the premium received is entered in that Fund’s accounting records as an asset and equivalent liability. The amount of the liability is subsequently marked-to-market to reflect the current value of the option written. When a written option expires, or if the Fund enters into a closing purchase transaction, it realizes a gain (or loss if the cost of a closing purchase transaction exceeds the premium received when the option was sold).

F. Certain Funds invest in futures for liquidity and to gain index exposure. U.S. Long Short Momentum Fund also invests in futures for reasons mentioned above and as a hedge, while Multi-Hedge Strategies Fund invests in futures for income, hedging and speculation. These funds invest in stock or bond index futures, commodity futures, currency futures, or a combination of the four. Futures contracts are contracts for delayed delivery of securities at a specified future delivery date and at a specific price. Upon entering into a contract, these Funds deposit and maintain as collateral such initial margin as required by the exchange on which the transaction is effected. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in value of the contract. Such receipts or payments are known as variation margin and are recorded by the Funds as unrealized gains or losses. When the contract is closed, the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

G. The risk in writing a covered call option is that a Fund may forego the opportunity for profit if the market price of the underlying security increases and the option is exercised. In addition, there is the risk that a Fund may not be able to enter into a closing transaction because of an illiquid secondary market or, for over-the-counter options, because of the counterparty’s inability to perform. The risk associated with purchasing options is limited to the premium originally paid. The risk in writing a covered put option is that a Fund may incur a loss if the market price of the underlying security decreases and the option is exercised.

H. There are several risks in connection with the use of futures contracts. Risks may be caused by an imperfect correlation between movements in the price of the instruments and the price of the underlying securities. In addition, there is the risk that a Fund may not be able to enter into a closing transaction because of an illiquid secondary market.

With futures, there is minimal counterparty credit risk to the Fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.

I. Certain Funds entered into domestic equity index and domestic currency index swap agreements, which are over-the-counter contracts, in which one party agrees to make periodic payments based on the change in market value of a specified equity security, basket of equity securities, equity index or domestic currency index, in return for periodic payments based on a fixed or variable interest rate or the change in market value of a different equity security, basket of equity securities, equity index or domestic currency index. Swap agreements are used to obtain exposure to an equity or market without owning or taking physical custody of securities. The swap agreements are marked-to-market daily based upon quotations from market makers and the change, if any, is recorded as unrealized gain or loss. Payments received or made as a result of an agreement or termination of the agreement are recognized as realized gains or losses.

J. There are several risks associated with the use of swap agreements that are different from those associated with ordinary portfolio securities transactions, due to the fact they could be considered illiquid. Although the Trust will not enter into any swap agreement unless SGI believes that the other party to the transaction is creditworthy, the Funds bear the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of the agreement counterparty.

The Fund’s maximum risk of loss from counterparty credit risk is the unrealized gain/loss to be received from/paid to the counterparty over the contract’s remaining life, to the extent that that amount is positive. This risk is mitigated by having a master netting arrangement between the Funds and the counterparty and by the posting of collateral by the counterparty to the Funds to cover the Fund’s exposure to the counterparty.

K. The Trust may invest in structured notes, which are over-the-counter contracts linked to the performance of an underlying benchmark such as interest rates, equity markets, equity indices, commodities indices, corporate credits or foreign exchange markets. A structured note is a type of bond in which an issuer borrows money from investors and pays back the principal, adjusted for performance of the underlying benchmark, at a specified maturity date. In addition, the contract may require periodic interest payments. Structured notes are used to obtain exposure to a market without owning or taking physical custody of securities or commodities. Fluctuations in value of the structured notes are recorded as unrealized gains and losses in the accompanying financial statements. Coupon payments are recorded as income while net payments are recorded as net realized gains or losses.

L. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Trust does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain and loss from investments.

Reported net realized foreign exchange gains or losses arise from sales of foreign currencies and currency gains or losses realized between the trade and settlement dates on investment transactions. Net unrealized exchange gains and losses arise from changes in the fair values of assets and liabilities other than investments in securities at the fiscal period end, resulting from changes in exchange rates.

M. The Trust may enter into forward currency contracts primarily to hedge against foreign currency exchange rate risks on its non-U.S. dollar denominated investment securities. When entering into a forward currency contract, a Fund agrees to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed future date. These contracts are valued

daily and the corresponding unrealized gain or loss on the contracts, as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the reporting date. At March 31, 2011, none of the Funds held forward currency contracts.

N. Certain U.S. Government and Agency Obligations are traded on a discount basis; the interest rates shown on the Schedules of Investments reflect the effective rates at the time of purchase by the Funds. Other securities bear interest at the rates shown, payable at fixed dates through maturity. The Funds may also purchase American Depository Receipts, U.S. Government securities, and enter into repurchase agreements.

O. The Funds may leave cash overnight in their cash account with the custodian, U.S. Bank. Periodically, a Fund may have cash due to the custodian bank as an overdraft balance. A fee is incurred on this overdraft, calculated by multiplying the overdraft by a rate based on the federal funds rate. Segregated cash with the broker is held as collateral for investments in derivative instruments such as futures contracts and index swap agreements.

P. Throughout the normal course of business, the Funds enter into contracts that contain a variety of representations and warranties which provide general indemnifications. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds and/or their affiliates that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.

2. Repurchase Agreements

The Funds transfer uninvested cash balances into a single joint account, the daily aggregate balance of which is invested in one or more repurchase agreements collateralized by obligations of the U.S. Treasury and U.S. Government Agencies. The collateral is in the possession of the Fund’s custodian and is evaluated to ensure that its market value exceeds at a minimum, 102% of the original face amount of the repurchase agreements. Each Fund holds a pro rata share of the collateral based on the dollar amount of the repurchase agreement entered into by each Fund.

The repurchase agreements executed by the joint account and outstanding at March 31, 2011, were as follows:

Repurchase Agreements


Counterparty and Terms of
Agreement	Face Value		Repurchase Price		Collateral	Par Value		Fair Value

Credit Suisse Group					U.S. Treasury Notes:
0.05%					0.38%
Due 04/01/11	$	85,033,499	$	85,033,617	09/30/12	$	87,053,100	$	86,836,359
BNP Paribus Securities Corp.					U.S. Treasury Note:
0.05%					1.00%
Due 04/01/11		55,503,415		55,503,492	12/31/11		56,052,300		56,613,538
HSBC Group					U.S. Treasury Bond:
0.07%					6.13%
Due 04/01/11		50,000,000		50,000,097	11/15/27		40,276,600		51,000,011
Mizuho Financial Group, Inc.					U.S. Treasury Bill:
0.06%					0.00%
Due 04/01/11		50,000,000		50,000,083	08/11/11		51,025,800		51,000,005
Deutsche Bank					U.S. Treasury Note:
0.05%					4.63%
Due 04/01/11		50,000,000		50,000,069	07/31/12		48,001,800		51,000,078

	$	290,536,914	$	290,537,358		$	282,409,600	$	296,449,992

In the event of counterparty default, the Fund has the right to collect the collateral to offset losses incurred. There is potential loss to the Fund in the event the Fund is delayed or prevented from exercising their rights to dispose of the collateral securities, including the risk of a possible decline in the value of the underlying securities during the period while the Fund seek to assert its rights. The Fund’s investment advisor, acting under the supervision of the Board of Trustees, reviews the value of the collateral and the creditworthiness of those banks and dealers with which the Fund enters into repurchase agreements to evaluate potential risks.

3. Fair Value Measurement

In accordance with U.S. generally accepted accounting principles, fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. A three-tier hierarchy is utilized to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Funds’ investments. The inputs are summarized in the three broad levels listed below:

Level 1 — quoted prices in active markets for identical securities.

Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 — significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes the inputs used to value the fund’s net assets as of March 31, 2011:


	Level 1		Level 1		Level 2		Level 2		Level3
	Investments		Other Financial		Investments		Other Financial		Investments
Fund	In Securities		Instruments*		In Securities		Instruments*		In Securities		Total

Assets
All-Asset Moderate Strategy Fund	$	17,013,060	$	34,504	$	4,007,328	$	—	$	—	$	4,041,832
All-Asset Aggressive Strategy Fund		6,410,578		14,017		1,157,930		—		—		1,171,947
All-Asset Conservative Strategy Fund		8,613,322		15,607	$	2,497,899		—		—		2,513,506
Alternative Strategies Allocation Fund		7,186,635		3,004		190,864		—		—		7,380,503
Amerigo Fund		191,858,299		—				—		—		191,858,299
Banking Fund		3,095,584		—		81,711		—		—		3,177,295
Basic Materials Fund		40,908,289		—		62,127		—		—		40,970,416
Biotechnology Fund		10,855,738		—		266,950		—		—		11,122,688
Clermont Fund		72,333,371		—		5,719,588		—		—		78,052,959
Commodities Strategy Fund		—		54,730		18,563,642		—		—		18,618,372
Consumer Products Fund		15,652,721		—		54,181		—		—		15,706,902
Dow 2x Strategy Fund		6,227,592		150,805		7,746,541		117,047		—		14,241,985
DWA Flexible Allocation Fund		24,439,135		—		5,822,036		—		—		30,261,171
DWA Sector Rotation Fund		35,209,747		—		179		—		—		35,209,926
Electronics Fund		8,877,194		—		74,507		—		—		8,951,701
Energy Fund		62,689,412		—		333,291		—		—		63,022,703
Energy Services Fund		55,709,809		—		376,894		—		—		56,086,703
Europe 1.25x Strategy Fund		4,588,673		107,269		3,852,803		—		—		8,548,745
Financial Services Fund		8,568,181		—		57,032		—		—		8,625,213
Government Long Bond 1.2x Strategy Fund		7,751,679		31,045		11,565,947		—		—		19,348,671
Health Care Fund		13,464,590		—		69,178		—		—		13,533,768
International Long Short Select Fund		3,524,045		—		981,831		—		—		4,505,876
Internet Fund		13,053,284		—		101,673		—		—		13,154,957
Inverse Dow 2x Strategy Fund		—		548		12,048,653		—		—		12,049,201
Inverse Government Long Bond Strategy Fund		—		78,618		26,541,113		—		—		26,619,731
Inverse Mid-Cap Strategy Fund		—		—		1,123,815		—		—		1,123,815
Inverse NASDAQ-100^® Strategy Fund		—		—		9,713,402		—		—		9,713,402
Inverse Russell 2000^® Strategy Fund		—		—		3,829,864		—		—		3,829,864
Inverse S&P 500 Strategy Fund		—		—		18,173,044		—		—		18,173,044
Japan 2x Strategy Fund		—		729,604		4,927,211		—		—		5,656,815
Leisure Fund		8,152,882		—		54,727		—		—		8,207,609
Managed Futures Strategy Fund		—		563,096		15,841,088		—		—		16,404,184
Mid-Cap 1.5x Strategy Fund		11,802,334		18,404		11,000,862		449,533		—		23,271,133
Multi-Hedge Strategies Fund		13,466,908		935,440		3,462,173		—		—		17,864,519
NASDAQ-100^® 2x Strategy Fund		11,729,676		59,192		14,032,679		488,964		—		26,310,511
NASDAQ-100^® Fund		37,995,183		28,797		16,708,111		189,735		—		54,921,826
Nova Fund		23,087,342		43,319		12,381,291		290,136		—		35,802,088
Precious Metals Fund		105,093,924		—		981,500		—		—		106,075,424
Real Estate Fund		23,102,046		—		—		—		—		23,102,046
Retailing Fund		5,745,416		—		36,243		—		—		5,781,659
Russell 2000^® 1.5x Strategy Fund		2,058,470		82,628		18,702,721		673,357		10		21,517,186
Russell 2000^® 2x Strategy Fund		797,907		23,022		2,946,375		156,422		5		3,923,731
S&P 500 2x Strategy Fund		13,215,347		53,492		7,080,056		228,445		—		20,577,340
S&P 500 Pure Growth Fund		54,066,185		—		269,105		—		—		54,335,290


	Level 1		Level 1		Level 2		Level 2		Level 3
	Investments		Other Financial		Investments		Other Financial		Investments
Fund	In Securities		Instruments*		In Securities		Instruments*		In Securities		Total

S&P 500 Pure Value Fund		34,686,022		—		156,059		—		—		34,842,081
S&P MidCap 400 Pure Growth Fund		60,399,529		—		314,425		—		—		60,713,954
S&P MidCap 400 Pure Value Fund		27,340,767		—		97,763		—		—		27,438,530
S&P SmallCap 600 Pure Growth Fund		28,982,544		—		196,213		—		—		29,178,757
S&P SmallCap 600 Pure Value Fund		19,245,121		—		178,680		—		—		19,423,801
Select Allocation Fund		38,053,218		—		4,433,187		—		—		42,486,405
Strengthening Dollar 2x Strategy Fund		—		—		2,871,824		—		—		2,871,824
Technology Fund		15,861,192		—		99,271		—		—		15,960,463
Telecommunications Fund		9,934,602		—		50,023		—		—		9,984,625
Transportation Fund		7,411,064		—		13,101		—		—		7,424,165
U.S. Government Money Market Fund		—		—		213,131,914		—		—		213,131,914
U.S. Long Short Momentum Fund		51,868,428		—		—		—		8,000		51,876,428
Utilities Fund		14,012,199		—		66,419		—		—		14,078,618
Weakening Dollar 2x Strategy Fund		—		41,962		5,060,636		21,999		—		5,124,597
Liabilities
All-Asset Moderate Strategy Fund		—		3,570		—		—		—		3,570
All-Asset Aggressive Strategy Fund		—		1,443		—		—		—		1,443
All-Asset Conservative Strategy Fund		—		2,795		—		—		—		2,795
Alternative Strategies Allocation Fund		—		4,218		—		—		—		4,218
Amerigo Fund		—		—		—		—		—		—
Banking Fund		—		—		—		—		—		—
Basic Materials Fund		—		—		—		—		—		—
Biotechnology Fund		—		—		—		—		—		—
Clermont Fund		—		—		—		—		—		—
Commodities Strategy Fund		—		—		—		—		—		—
Consumer Products Fund		—		—		—		—		—		—
Dow 2x Strategy Fund		—		—		—		—		—		—
DWA Flexible Allocation Fund		—		—		—		—		—		—
DWA Sector Rotation Fund		—		—		—		—		—		—
Electronics Fund		—		—		—		—		—		—
Energy Fund		—		—		—		—		—		—
Energy Services Fund		—		—		—		—		—		—
Europe 1.25x Strategy Fund		—		—		—		—		—		—
Financial Services Fund		—		—		—		—		—		—
Government Long Bond 1.2x Strategy Fund		—		—		—		—		—		—
Health Care Fund		—		—		—		—		—		—
International Long Short Select Fund		1,459,039		—		—		—		—		1,459,039
Internet Fund		—		—		—		—		—		—
Inverse Dow 2x Strategy Fund		—		—		—		152,857		—		152,857
Inverse Government Long Bond Strategy Fund		11,685,135		—		—		—		—		11,685,135
Inverse Mid-Cap Strategy Fund		—		10,745		—		15,490		—		26,235
Inverse NASDAQ-100^® Strategy Fund		—		32,712		—		78,320		—		111,032
Inverse Russell 2000^® Strategy Fund		—		28,802		—		68,618		—		97,420
Inverse S&P500 Strategy Fund		—		76,770		—		90,033		—		166,803


	Level 1		Level 1		Level 2		Level 2		Level3
	Investments		Other Financial		Investments		Other Financial		Investments
Fund	In Securities		Instruments*		In Securities		Instruments*		In Securities		Total

Japan 2x Strategy Fund		—		116,753		—		—		—		116,753
Leisure Fund		—		—		—		—		—		—
Managed Futures Strategy Fund		—		108,214		—		—		—		108,214
Mid-Cap 1.5x Strategy Fund		—		—		—		—		—		—
Multi-Hedge Strategies Fund		8,550,436		440,790		—		—		—		8,991,226
NASDAQ-100^® 2x Strategy Fund		—		—		—		—		—		—
NASDAQ-100^® Fund		—		—		—		—		—		—
Nova Fund		—		—		—		—		—		—
Precious Metals Fund		—		—		—		—		—		—
Real Estate Fund		—		—		—		—		—		—
Retailing Fund		—		—		—		—		—		—
Russell 2000^® 1.5x Strategy Fund		—		—		—		—		—		—
Russell 2000^® 2x Strategy Fund		—		—		—		—		—		—
S&P500 2x Strategy Fund		—		—		—		—		—		—
S&P500 Pure Growth Fund		—		—		—		—		—		—
S&P500 Pure Value Fund		—		—		—		—		—		—
S&P MidCap 400 Pure Growth Fund		—		—		—		—		—		—
S&P MidCap 400 Pure Value Fund		—		—		—		—		—		—
S&P SmallCap 600 Pure Growth Fund		—		—		—		—		—		—
S&P SmallCap 600 Pure Value Fund		—		—		—		—		—		—
Select Allocation Fund		—		—		—		—		—		—
Strengthening Dollar 2x Strategy Fund		—		14,941		—		12,750		—		27,691
Technology Fund		—		—		—		—		—		—
Telecommunications Fund		—		—		—		—		—		—
Transportation Fund		—		—		—		—		—		—
U.S. Government Money Market Fund		—		—		—		—		—		—
U.S. Long Short Momentum Fund		—		12,929		—		—		—		12,929
Utilities Fund		—		—		—		—		—		—
Weakening Dollar 2x Strategy Fund		—		—		—		—		—		—


*		Other financial instruments may include forward foreign currency contracts, futures and/or swaps, which are reported as unrealized gain/loss at period end.

The Funds adopted updated provisions surrounding fair value measurements and disclosures effective March 30, 2010. This update applies to the Funds’ disclosures about transfers in and out of all Levels of the fair value hierarchy on a gross basis and the reasons for the transfers, as well as to disclosures about the valuation techniques and inputs used to measure fair value for investments that fall in either Level 2 or Level 3 fair value hierarchy. Effective interim and annual periods beginning after December 15, 2010, purchases, sales, issuances and settlements must be shown on a gross basis in the Level 3 roll forward rather than as one net number.

Transfers between investment Levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. The Funds recognized transfers between the Levels as of the beginning of the period. As of March 31, 2011, Russell 2000^® 1.5x Strategy Fund had a security with a total value of $20 transferred from Level 1 to Level 3. Russell 2000^® 2x Fund had a security with a total value of $5 transferred from Level 1 to Level 3 and the U.S. Long Short Momentum Fund had a security with a total value of $8000 transferred from Level 1 to Level 3. The fair market values of these securities were adjusted due to a change in the securities valuation method. There were no other securities that transferred between levels.

Summary of Fair Value Level 3 Activity

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value for the year ended March 31, 2011:

LEVEL 3 — Fair value measurement using significant unobservable inputs


	Securities
Russell 2000^® 2x Strategy Fund
Assets:
Beginning Balance	$	—
Total realized gains or losses included in earnings		(53	)
Total change in unrealized gains or losses included in earnings		(123	)
Purchases, sales, issuances, and settlements (net)
Transfers in and/or out of Level 3		181

Ending Balance	$	5

Russell 2000^® 1.5x Strategy Fund
Assets:
Beginning Balance	$	—
Total realized gains or losses included in earnings		(159	)
Total change in unrealized gains or losses included in earnings		(258	)
Purchases, sales, issuances, and settlements (net)
Transfers in and/or out of Level 3		427

Ending Balance	$	10


U.S.Long Short Momentum Fund
Assets:
Beginning Balance	$	—
Total realized gains or losses included in earnings		(9,945	)
Total change in unrealized gains or losses included in earnings		(134,158	)
Purchases, sales, issuances, and settlements (net)
Transfers in and/or out of Level 3		152,103

Ending Balance	$	8,000

4. Acquisition of Security Benefit Corporation

Guggenheim SBC Holdings, LLC (“Guggenheim SBC Holdings”), an investor group managed by Guggenheim Partners, LLC (“Guggenheim”), acquired control of Security Benefit Corporation (“SBC”), the parent company of Rydex Advisors II, LLC (formerly PADCO Advisors II, Inc.), the Funds’ investment Advisor (the “Investment Advisor”), pursuant to an agreement entered between SBC and Guggenheim SBC Holdings. Under the agreement, Guggenheim SBC Holdings received a 100% ownership stake in SBC and consequently acquired control of the Investment Advisor (the “Purchase Transaction”). Guggenheim is a global, independent, privately held, diversified financial services firm with more than $100 billion in assets under supervision. The Purchase Transaction did not expected to result in material changes to the day-to-day management and operations of the Funds or any increase in fees. The Purchase Transaction closed on July 30, 2010.

Under the Investment Company Act of 1940, the closing of the Purchase Transaction had the effect of terminating the Funds’ investment advisory agreement with the Investment Advisor and any investment sub-advisory agreements entered on behalf of a Fund (together, the “Previous Agreements”). New investment advisory and sub-advisory agreements (“New Agreements”) were approved by Fund shareholders in a series of special meetings of shareholders. The terms of the New Agreements are substantially identical to the corresponding Previous Agreements, except with respect to the date of execution.

5. Distributor and Transfer Agent Change

Effective July 30, 2010, the Funds’ distributor, Rydex Distributors, Inc., a Maryland corporation, became Rydex Distributors, LLC, a Kansas limited liability company, and Rydex Fund Services, Inc., the Funds’ transfer agent, became Rydex Fund Services, LLC, a Kansas limited liability company.

6. Investment Advisor Merger

Effective January 3, 2011, Rydex Advisors II, LLC, the Funds’ investment advisor was merged with and into Security Investors, LLC, which operates under the name SGI.

The foregoing internal restructuring did not affect the investment advisory services rendered to the Funds, which continue to be managed on a day-to-day basis by the same teams of portfolio managers. The investment philosophies, strategies, and processes of the Funds also remained the same.

In order to implement the restructuring, technical amendments were made to the Funds’ investment advisory agreement with Rydex Advisors II, LLC, in order to reflect the change of the identity of the investment advisor. No other changes were made to the investment advisory agreement of the Funds, and the fees and expenses of the Funds remained the same.

TABLE OF CONTENTS


	Item 2. Controls and Procedures
	Item 3. Exhibits
EX-99.CERT

Item 2. Controls and Procedures.

(a) The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.

(b) The registrant’s principal executive officer and principal financial officer are aware of no change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

Separate certifications by the President (principal executive officer) and Treasurer (principal financial officer) of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)) are attached.


	Units
Morgan Stanley Capital Services, Inc. April 2011 Russell 2000 Index Swap, Terminating 4/26/2011⁵ (Notional Value $463,376)		549		11,017
(Total Notional Value $28,159,167)			$	673,357



By (Signature and Title)*		/s/ Richard M. Goldman
		Richard M. Goldman, President



By (Signature and Title)*		/s/ Nikolaos Bonos
		Nikolaos Bonos , Vice President & Treasurer


*		Print the name and title of each signing officer under his or her signature.