1

Portfolio

of

Investments

March

31,

2025

SPXX

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

-

100.2%

306531060

COMMON

STOCKS

-

98

.6

%

306531060

AUTOMOBILES

&

COMPONENTS

-

1.6%

2,442

Harley-Davidson

Inc

$

61,660

6,488

(a)

Lucid

Group

Inc

15,701

8,627

(a),(b)

QuantumScape

Corp

35,888

5,089

(a),(b)

Rivian

Automotive

Inc,

Class

A

63,358

18,022

(a)

Tesla

Inc

4,670,582

TOTAL

AUTOMOBILES

&

COMPONENTS

4,847,189

BANKS

-

3.7%

43,985

Bank

of

America

Corp

1,835,494

22,295

Citigroup

Inc

1,582,722

85

First

Citizens

BancShares

Inc/NC,

Class

A

157,600

4,948

First

Horizon

Corp

96,090

24,320

JPMorgan

Chase

&

Co

5,965,696

158

(a)

Texas

Capital

Bancshares

Inc

11,803

26,944

Wells

Fargo

&

Co

1,934,310

126

Wintrust

Financial

Corp

14,170

TOTAL

BANKS

11,597,885

CAPITAL

GOODS

-

5.7%

292

AAON

Inc

22,814

506

Acuity

Inc

133,255

2,372

AGCO

Corp

219,576

5,115

(a)

Archer

Aviation

Inc,

Class

A

36,368

15,620

(a)

Array

Technologies

Inc

76,069

769

Atkore

Inc

46,132

3,549

(a)

Bloom

Energy

Corp,

Class

A

69,773

5,148

(a)

Boeing

Co/The

877,991

2,021

BWX

Technologies

Inc

199,372

627

Carlisle

Cos

Inc

213,494

4,996

Caterpillar

Inc

1,647,681

16,723

CNH

Industrial

NV

205,358

1,029

Curtiss-Wright

Corp

326,471

3,017

Deere

&

Co

1,416,029

5,038

Eaton

Corp

PLC

1,369,480

740

EMCOR

Group

Inc

273,526

930

Esab

Corp

108,345

1,709

GE

Vernova

Inc

521,724

5,193

General

Electric

Co

1,039,379

5,399

Graco

Inc

450,871

1,527

HEICO

Corp

407,999

8,713

Honeywell

International

Inc

1,844,978

6,141

Illinois

Tool

Works

Inc

1,523,029

121

Lincoln

Electric

Holdings

Inc

22,888

2,947

Lockheed

Martin

Corp

1,316,454

595

(a)

MasTec

Inc

69,442

344

(a)

NANO

Nuclear

Energy

Inc

9,102

4,656

(a)

NEXTracker

Inc,

Class

A

196,204

728

(a)

NuScale

Power

Corp

10,308

1,377

Oshkosh

Corp

129,548

2,476

Owens

Corning

353,622

84

Powell

Industries

Inc

14,308

16,125

RTX

Corp

2,135,918

5,380

(a)

Shoals

Technologies

Group

Inc,

Class

A

17,862

386

(a)

Spirit

AeroSystems

Holdings

Inc,

Class

A

13,302

6,096

(a)

Sunrun

Inc

35,723

511

Valmont

Industries

Inc

145,824

637

Watsco

Inc

323,787

TOTAL

CAPITAL

GOODS

17,824,006

Portfolio

of

Investments

March

31,

2025

(continued)

SPXX

2

SHARES

DESCRIPTION

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0.6%

3,007

Booz

Allen

Hamilton

Holding

Corp

$

314,472

587

(a)

CACI

International

Inc,

Class

A

215,382

463

(a)

Clarivate

PLC

1,819

786

(a)

Clean

Harbors

Inc

154,921

2,741

(a)

GEO

Group

Inc/The

80,065

1,156

Insperity

Inc

103,150

3,689

KBR

Inc

183,749

1,061

RB

Global

Inc

106,418

2,149

Science

Applications

International

Corp

241,268

3,175

SS&C

Technologies

Holdings

Inc

265,208

998

TransUnion

82,824

791

TriNet

Group

Inc

62,679

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

1,811,955

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

5.8%

1,191

(a)

Abercrombie

&

Fitch

Co,

Class

A

90,957

1,035

Academy

Sports

&

Outdoors

Inc

47,206

2,086

Advance

Auto

Parts

Inc

81,792

67,195

(a),(c)

Amazon.com

Inc

12,784,521

5,023

American

Eagle

Outfitters

Inc

58,367

839

(a)

AutoNation

Inc

135,851

1,122

(a)

Burlington

Stores

Inc

267,406

53

(a)

Carvana

Co

11,081

1,137

Dick's

Sporting

Goods

Inc

229,174

1,918

(a)

GameStop

Corp,

Class

A

42,810

4,272

Gap

Inc/The

88,046

9,417

Home

Depot

Inc/The

3,451,236

343

Lithia

Motors

Inc

100,684

552

Murphy

USA

Inc

259,335

809

(a)

PDD

Holdings

Inc

95,745

100

(a)

RH

23,441

1,148

(a)

Urban

Outfitters

Inc

60,155

3,972

(a)

Valvoline

Inc

138,265

1,384

(a)

Victoria's

Secret

&

Co

25,715

1,450

(a)

Wayfair

Inc,

Class

A

46,444

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

18,038,231

CONSUMER

DURABLES

&

APPAREL

-

0.9%

1,909

(a)

Capri

Holdings

Ltd

37,665

1,423

Cricut

Inc,

Class

A

7,328

136

Installed

Building

Products

Inc

23,319

8,589

KB

Home

499,193

2,416

(a)

Mattel

Inc

46,943

982

Meritage

Homes

Corp

69,604

11,673

NIKE

Inc,

Class

B

741,002

4,237

Polaris

Inc

173,463

4,723

Somnigroup

International

Inc

282,813

4,744

(a)

Taylor

Morrison

Home

Corp

284,830

2,028

Toll

Brothers

Inc

214,136

63

(a)

TopBuild

Corp

19,212

5,835

(a)

Under

Armour

Inc,

Class

C

34,718

5,233

VF

Corp

81,216

1,198

Whirlpool

Corp

107,976

1,500

(a)

YETI

Holdings

Inc

49,650

TOTAL

CONSUMER

DURABLES

&

APPAREL

2,673,068

CONSUMER

SERVICES

-

1.8%

3,882

Aramark

134,006

331

Booking

Holdings

Inc

1,524,887

2,536

Boyd

Gaming

Corp

166,945

555

(a)

Bright

Horizons

Family

Solutions

Inc

70,507

2,395

(a)

DraftKings

Inc,

Class

A

79,538

2,846

Hyatt

Hotels

Corp

348,635

8,883

McDonald's

Corp

2,774,783

3

SHARES

DESCRIPTION

VALUE

CONSUMER

SERVICES

(continued)

2,984

Papa

John's

International

Inc

$

122,583

1,641

(a)

Planet

Fitness

Inc

158,537

1,485

Service

Corp

International/US

119,097

234

(a)

Shake

Shack

Inc,

Class

A

20,632

741

(a)

Sweetgreen

Inc,

Class

A

18,540

855

Travel

+

Leisure

Co

39,578

364

Wingstop

Inc

82,111

TOTAL

CONSUMER

SERVICES

5,660,379

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

2.6%

2,512

(a)

BJ's

Wholesale

Club

Holdings

Inc

286,619

410

Casey's

General

Stores

Inc

177,957

3,962

Costco

Wholesale

Corp

3,747,180

826

(a)

Performance

Food

Group

Co

64,948

2,961

(a)

US

Foods

Holding

Corp

193,827

40,986

Walmart

Inc

3,598,161

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

8,068,692

ENERGY

-

3.5%

6,192

Antero

Midstream

Corp

111,456

1,429

(a)

Antero

Resources

Corp

57,789

1,887

ChampionX

Corp

56,233

1,985

Cheniere

Energy

Inc

459,329

18,545

Chevron

Corp

3,102,393

1,575

Core

Natural

Resources

Inc

121,432

30,381

Exxon

Mobil

Corp

3,613,212

5,031

HF

Sinclair

Corp

165,419

3,278

Liberty

Energy

Inc

51,891

9,526

Magnolia

Oil

&

Gas

Corp,

Class

A

240,627

6,358

Marathon

Petroleum

Corp

926,297

13,380

Murphy

Oil

Corp

379,992

2,592

Northern

Oil

&

Gas

Inc

78,356

4,568

NOV

Inc

69,525

12,160

Ovintiv

Inc

520,448

1,389

PBF

Energy

Inc,

Class

A

26,516

6,958

Peabody

Energy

Corp

94,281

21,917

Permian

Resources

Corp

303,550

4,093

Range

Resources

Corp

163,433

3,783

SM

Energy

Co

113,301

8,230

TechnipFMC

PLC

260,809

419

(a)

Tidewater

Inc

17,711

17,734

(a),(b)

Transocean

Ltd

56,217

TOTAL

ENERGY

10,990,217

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

2.0%

10,431

Agree

Realty

Corp

805,169

2,104

American

Healthcare

REIT

Inc

63,751

6,767

American

Homes

4

Rent,

Class

A

255,860

6,622

Americold

Realty

Trust

Inc

142,108

15,872

Brixmor

Property

Group

Inc

421,402

11,123

CareTrust

REIT

Inc

317,895

7,025

Cousins

Properties

Inc

207,237

1,740

EastGroup

Properties

Inc

306,501

8,331

Equity

LifeStyle

Properties

Inc

555,678

10,582

First

Industrial

Realty

Trust

Inc

571,005

8,436

Gaming

and

Leisure

Properties

Inc

429,392

1,542

Hudson

Pacific

Properties

Inc

4,549

10,680

Independence

Realty

Trust

Inc

226,736

2,264

Lamar

Advertising

Co,

Class

A

257,598

2,787

Macerich

Co/The

47,853

11,527

NNN

REIT

Inc

491,626

6,283

Omega

Healthcare

Investors

Inc

239,257

7,163

Phillips

Edison

&

Co

Inc

261,378

4,436

Rexford

Industrial

Realty

Inc

173,669

Portfolio

of

Investments

March

31,

2025

(continued)

SPXX

4

SHARES

DESCRIPTION

VALUE

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

(continued)

940

Ryman

Hospitality

Properties

Inc

$

85,954

5,765

Sabra

Health

Care

REIT

Inc

100,715

497

SL

Green

Realty

Corp

28,677

1,922

Sun

Communities

Inc

247,246

1,521

Terreno

Realty

Corp

96,158

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

6,337,414

FINANCIAL

SERVICES

-

9.1%

890

(a)

Affirm

Holdings

Inc

40,219

20,947

AGNC

Investment

Corp

200,672

1,817

Ally

Financial

Inc

66,266

6,384

American

Express

Co

1,717,615

5,651

Annaly

Capital

Management

Inc

114,772

14,795

(a),(c)

Berkshire

Hathaway

Inc,

Class

B

7,879,521

304

(a)

Coinbase

Global

Inc,

Class

A

52,358

4,161

Corebridge

Financial

Inc

131,363

5,499

Equitable

Holdings

Inc

286,443

3,860

Goldman

Sachs

Group

Inc/The

2,108,679

1,068

Interactive

Brokers

Group

Inc,

Class

A

176,850

8,753

Intercontinental

Exchange

Inc

1,509,893

508

LPL

Financial

Holdings

Inc

166,187

7,480

Mastercard

Inc,

Class

A

4,099,938

7,780

MGIC

Investment

Corp

192,788

14,535

Morgan

Stanley

1,695,798

440

PennyMac

Financial

Services

Inc

44,048

4,239

Radian

Group

Inc

140,184

3,649

(a)

Robinhood

Markets

Inc,

Class

A

151,871

8,150

Rocket

Cos

Inc,

Class

A

98,371

3,398

S&P

Global

Inc

1,726,524

319

(a)

Shift4

Payments

Inc,

Class

A

26,066

6,607

(a)

SoFi

Technologies

Inc

76,839

2,490

(a)

StoneCo

Ltd,

Class

A

26,095

1,592

(a)

Toast

Inc,

Class

A

52,807

1,119

Tradeweb

Markets

Inc,

Class

A

166,127

468

(a)

Upstart

Holdings

Inc

21,542

909

Virtu

Financial

Inc,

Class

A

34,651

14,045

Visa

Inc,

Class

A

4,922,211

1,609

Voya

Financial

Inc

109,026

16,810

Western

Union

Co/The

177,850

4,511

XP

Inc,

Class

A

62,026

TOTAL

FINANCIAL

SERVICES

28,275,600

FOOD,

BEVERAGE

&

TOBACCO

-

3.0%

846

Cal-Maine

Foods

Inc

76,901

2,911

(a)

Celsius

Holdings

Inc

103,690

46,630

Coca-Cola

Co/The

3,339,640

857

(a)

Darling

Ingredients

Inc

26,773

646

(a)

Freshpet

Inc

53,728

2,784

Ingredion

Inc

376,425

16,493

PepsiCo

Inc

2,472,960

13,092

Philip

Morris

International

Inc

2,078,093

4,686

(a)

Pilgrim's

Pride

Corp

255,434

3,247

(a)

Post

Holdings

Inc

377,821

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

9,161,465

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

4.7%

18,190

Abbott

Laboratories

2,412,904

2,730

(a)

Acadia

Healthcare

Co

Inc

82,774

4,199

(a)

agilon

health

Inc

18,182

483

(a)

AMN

Healthcare

Services

Inc

11,814

23,584

(a)

Boston

Scientific

Corp

2,379,154

335

Chemed

Corp

206,132

1,637

(a)

Doximity

Inc,

Class

A

94,995

2,253

Encompass

Health

Corp

228,184

5

SHARES

DESCRIPTION

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES

(continued)

2,277

(a)

Globus

Medical

Inc,

Class

A

$

166,676

1,044

(a)

Haemonetics

Corp

66,346

569

(a)

ICU

Medical

Inc

79,011

170

(a)

Inspire

Medical

Systems

Inc

27,078

3,572

(a)

Intuitive

Surgical

Inc

1,769,104

1,265

(a)

Lantheus

Holdings

Inc

123,464

1,911

McKesson

Corp

1,286,084

1,383

(a)

Merit

Medical

Systems

Inc

146,197

433

(a)

Penumbra

Inc

115,789

593

(a)

Privia

Health

Group

Inc

13,313

631

(a)

PROCEPT

BioRobotics

Corp

36,762

651

(a)

STAAR

Surgical

Co

11,477

1,929

Teleflex

Inc

266,569

1,806

(a)

Tenet

Healthcare

Corp

242,907

279

(a)

TransMedics

Group

Inc

18,771

8,674

UnitedHealth

Group

Inc

4,543,007

1,340

(a)

Veeva

Systems

Inc,

Class

A

310,384

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

14,657,078

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1.3%

1,282

(a)

BellRing

Brands

Inc

95,458

10,505

(a)

Coty

Inc,

Class

A

57,462

1,117

(a)

elf

Beauty

Inc

70,137

22,455

Procter

&

Gamble

Co/The

3,826,781

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

4,049,838

INSURANCE

-

2.6%

5,688

Arthur

J

Gallagher

&

Co

1,963,725

650

Hanover

Insurance

Group

Inc/The

113,068

196

Kinsale

Capital

Group

Inc

95,395

117

(a)

Markel

Group

Inc

218,744

8,946

Marsh

&

McLennan

Cos

Inc

2,183,092

4,947

Old

Republic

International

Corp

194,021

1,472

(a)

Oscar

Health

Inc,

Class

A

19,298

1,422

Primerica

Inc

404,602

1,161

Reinsurance

Group

of

America

Inc

228,601

436

RenaissanceRe

Holdings

Ltd

104,640

1,930

RLI

Corp

155,037

439

Ryan

Specialty

Holdings

Inc

32,429

1,002

Selective

Insurance

Group

Inc

91,723

6,012

Travelers

Cos

Inc/The

1,589,934

7,525

Unum

Group

612,986

TOTAL

INSURANCE

8,007,295

MATERIALS

-

1.9%

7,632

(a)

Axalta

Coating

Systems

Ltd

253,153

3,089

Berry

Global

Group

Inc

215,643

2,824

Cabot

Corp

234,787

2,782

(a)

Coeur

Mining

Inc

16,470

4,146

Crown

Holdings

Inc

370,072

28,867

Dow

Inc

1,008,036

12,941

Element

Solutions

Inc

292,596

3,761

FMC

Corp

158,677

9,989

Graphic

Packaging

Holding

Co

259,315

14,773

Hecla

Mining

Co

82,138

212

(a)

Ingevity

Corporation

8,393

1,550

Louisiana-Pacific

Corp

142,569

13,862

LyondellBasell

Industries

NV,

Class

A

975,885

351

(a)

Magnera

Corp

6,374

6,615

(a),(b)

MP

Materials

Corp

161,472

152

NewMarket

Corp

86,100

1,562

Olin

Corp

37,863

555

Reliance

Inc

160,256

2,738

Royal

Gold

Inc

447,690

Portfolio

of

Investments

March

31,

2025

(continued)

SPXX

6

SHARES

DESCRIPTION

VALUE

MATERIALS

(continued)

3,446

RPM

International

Inc

$

398,633

1,203

Scotts

Miracle-Gro

Co/The

66,033

974

Silgan

Holdings

Inc

49,791

2,798

Southern

Copper

Corp

261,501

3,022

United

States

Steel

Corp

127,710

TOTAL

MATERIALS

5,821,157

MEDIA

&

ENTERTAINMENT

-

8.7%

44,594

Alphabet

Inc,

Class

A

6,896,016

34,375

(c)

Alphabet

Inc,

Class

C

5,370,406

16

(a)

AMC

Entertainment

Holdings

Inc,

Class

A

46

240

Cable

One

Inc

63,785

1,107

(a)

Liberty

Media

Corp-Liberty

Formula

One,

Class

A

90,187

200

(a)

Liberty

Media

Corp-Liberty

Live,

Class

A

13,448

16,581

Meta

Platforms

Inc

9,556,625

3,464

(a)

Netflix

Inc

3,230,284

2,539

(a)

Pinterest

Inc,

Class

A

78,709

1,010

(a)

ROBLOX

Corp,

Class

A

58,873

641

(a)

Roku

Inc

45,152

721

(a)

Spotify

Technology

SA

396,572

12,340

Walt

Disney

Co/The

1,217,958

TOTAL

MEDIA

&

ENTERTAINMENT

27,018,061

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

6.4%

15,731

(c)

AbbVie

Inc

3,295,959

2,527

(a)

Alkermes

PLC

83,442

202

(a)

Axsome

Therapeutics

Inc

23,559

436

(a)

Blueprint

Medicines

Corp

38,590

1,144

(a)

Bridgebio

Pharma

Inc

39,548

6,385

Eli

Lilly

&

Co

5,273,435

1,767

(a)

Exact

Sciences

Corp

76,493

4,414

(a)

Exelixis

Inc

162,965

10,694

(a)

Geron

Corp

17,003

70

(a),(b)

GRAIL

Inc

1,788

1,621

(a)

Halozyme

Therapeutics

Inc

103,436

1,230

(a)

Immunovant

Inc

21,021

267

(a)

Insmed

Inc

20,369

428

(a)

Intra-Cellular

Therapies

Inc

56,462

1,667

(a)

Ionis

Pharmaceuticals

Inc

50,293

346

(a)

Janux

Therapeutics

Inc

9,342

20,875

Johnson

&

Johnson

3,461,910

123

(a)

Madrigal

Pharmaceuticals

Inc

40,741

395

(a)

Medpace

Holdings

Inc

120,353

23,452

Merck

&

Co

Inc

2,105,052

371

(a)

Metsera

Inc

10,099

2,922

(a)

Novavax

Inc

18,730

5,559

Organon

&

Co

82,774

50,011

Pfizer

Inc

1,267,279

1,574

(a)

Protagonist

Therapeutics

Inc

76,119

224

(a)

Repligen

Corp

28,502

5,665

Royalty

Pharma

PLC

176,351

586

(a)

SpringWorks

Therapeutics

Inc

25,860

845

(a)

TG

Therapeutics

Inc

33,318

3,729

Thermo

Fisher

Scientific

Inc

1,855,550

2,534

(a)

Vertex

Pharmaceuticals

Inc

1,228,534

1,917

(a)

Viking

Therapeutics

Inc

46,296

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

19,851,173

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0.1%

1,231

(a)

Jones

Lang

LaSalle

Inc

305,177

4,753

(a)

Opendoor

Technologies

Inc

4,848

1,785

(a)

Zillow

Group

Inc,

Class

C

122,380

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

432,405

7

SHARES

DESCRIPTION

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

9.9%

574

(a)

Allegro

MicroSystems

Inc

$

14,425

5,912

Analog

Devices

Inc

1,192,273

11,856

(c)

Applied

Materials

Inc

1,720,543

814

(a)

Axcelis

Technologies

Inc

40,431

34,176

Broadcom

Inc

5,722,088

1,432

Entegris

Inc

125,271

3,050

Marvell

Technology

Inc

187,789

169,172

NVIDIA

Corp

18,334,861

119

(a)

Onto

Innovation

Inc

14,440

554

(a)

Qorvo

Inc

40,115

10,222

QUALCOMM

Inc

1,570,201

1,524

(a)

Rigetti

Computing

Inc

12,070

693

(a)

Semtech

Corp

23,839

10,200

Texas

Instruments

Inc

1,832,940

521

Universal

Display

Corp

72,669

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

30,903,955

SOFTWARE

&

SERVICES

-

9.8%

3,469

(a)

Adobe

Inc

1,330,466

1,592

Amdocs

Ltd

145,668

451

(a)

Appfolio

Inc,

Class

A

99,175

1,684

(a)

Aurora

Innovation

Inc

11,325

712

(a)

BlackLine

Inc

34,475

2,027

(a)

Box

Inc,

Class

A

62,553

1,236

(a)

C3.ai

Inc,

Class

A

26,018

16,632

(a)

CCC

Intelligent

Solutions

Holdings

Inc

150,187

2,995

(a),(b)

Cleanspark

Inc

20,126

3,875

Clear

Secure

Inc,

Class

A

100,401

3,174

(a)

Clearwater

Analytics

Holdings

Inc,

Class

A

85,063

805

(a)

Cloudflare

Inc,

Class

A

90,715

2,686

(a)

Confluent

Inc,

Class

A

62,960

670

(a)

Docusign

Inc

54,538

7,313

(a)

Dropbox

Inc,

Class

A

195,330

3,681

(a)

D-Wave

Quantum

Inc

27,976

1,425

(a)

Dynatrace

Inc

67,189

515

(a)

Elastic

NV

45,887

1,043

(a)

Gitlab

Inc,

Class

A

49,021

1,251

(a)

Guidewire

Software

Inc

234,387

320

InterDigital

Inc

66,160

4,146

International

Business

Machines

Corp

1,030,944

2,495

Intuit

Inc

1,531,905

659

(a)

Manhattan

Associates

Inc

114,033

3,381

(a)

MARA

Holdings

Inc

38,882

51,339

Microsoft

Corp

19,272,147

550

(a)

MicroStrategy

Inc,

Class

A

158,549

2,273

(a)

Nutanix

Inc,

Class

A

158,678

14,001

Oracle

Corp

1,957,480

280

Pegasystems

Inc

19,466

684

(a)

Rapid7

Inc

18,133

5,124

Salesforce

Inc

1,375,077

2,769

(a)

SentinelOne

Inc,

Class

A

50,340

1,325

(a)

ServiceNow

Inc

1,054,886

704

(a),(b)

SoundHound

AI

Inc

5,716

387

(a)

SPS

Commerce

Inc

51,367

2,900

(a)

Tenable

Holdings

Inc

101,442

2,685

(a),(b)

Terawulf

Inc

7,330

1,020

(a)

Trade

Desk

Inc/The,

Class

A

55,814

2,746

(a)

Unity

Software

Inc

53,794

2,287

(a)

Varonis

Systems

Inc

92,509

2,140

(a)

Vertex

Inc,

Class

A

74,921

410

(a)

Wix.com

Ltd

66,986

785

(a)

Workiva

Inc

59,589

Portfolio

of

Investments

March

31,

2025

(continued)

SPXX

8

SHARES

DESCRIPTION

VALUE

SOFTWARE

&

SERVICES

(continued)

703

(a)

Zscaler

Inc

$

139,489

TOTAL

SOFTWARE

&

SERVICES

30,449,097

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

8.4%

103,319

(c)

Apple

Inc

22,950,249

403

(a)

Arrow

Electronics

Inc

41,844

311

Avnet

Inc

14,956

2,523

(a)

Ciena

Corp

152,465

43,703

Cisco

Systems

Inc

2,696,912

984

Cognex

Corp

29,353

1,796

(a)

Coherent

Corp

116,632

87

(a)

Fabrinet

17,183

133

(a)

Insight

Enterprises

Inc

19,949

583

(a)

Itron

Inc

61,075

1,321

(a)

Pure

Storage

Inc,

Class

A

58,481

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

26,159,099

TELECOMMUNICATION

SERVICES

-

1.0%

2,306

(a),(b)

AST

SpaceMobile

Inc

52,438

839

Cogent

Communications

Holdings

Inc

51,439

1,918

(a)

Frontier

Communications

Parent

Inc

68,779

1,483

Iridium

Communications

Inc

40,516

20,069

(a)

Lumen

Technologies

Inc

78,671

607

Telephone

and

Data

Systems

Inc

23,515

1,094

(a),(b)

United

States

Cellular

Corp

75,650

57,225

Verizon

Communications

Inc

2,595,726

TOTAL

TELECOMMUNICATION

SERVICES

2,986,734

TRANSPORTATION

-

1.3%

942

Copa

Holdings

SA,

Class

A

87,097

935

(a)

GXO

Logistics

Inc

36,540

397

(a)

Saia

Inc

138,724

13,000

(a)

Uber

Technologies

Inc

947,180

6,904

Union

Pacific

Corp

1,631,001

8,775

United

Parcel

Service

Inc,

Class

B

965,162

1,308

(a)

XPO

Inc

140,715

TOTAL

TRANSPORTATION

3,946,419

UTILITIES

-

2.2%

2,058

Black

Hills

Corp

124,818

4,609

(b)

Brookfield

Renewable

Corp

128,683

19,937

Clearway

Energy

Inc,

Class

C

603,493

17,920

Duke

Energy

Corp

2,185,702

14,290

Essential

Utilities

Inc

564,884

6,831

(a)

Hawaiian

Electric

Industries

Inc

74,800

5,952

IDACORP

Inc

691,741

2,125

New

Jersey

Resources

Corp

104,253

23,444

OGE

Energy

Corp

1,077,486

837

Otter

Tail

Corp

67,270

11,239

Portland

General

Electric

Co

501,259

69

Southwest

Gas

Holdings

Inc

4,954

6,569

TXNM

Energy

Inc

351,310

14,575

UGI

Corp

481,995

TOTAL

UTILITIES

6,962,648

TOTAL

COMMON

STOCKS

(Cost

$95,879,881)

306,531,060

SHARES

DESCRIPTION

VALUE

5162220

EXCHANGE-TRADED

FUNDS

-

1

.6

%

5162220

8,000

SPDR

S&P

500

ETF

Trust

4,475,120

2,500

Vanguard

Total

Stock

Market

ETF

687,100

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost

$4,674,934)

5,162,220

9

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

Investments

in

Derivatives

TYPE

DESCRIPTION(d)

NUMBER

OF

CONTRACTS

NOTIONAL

AMOUNT

(e)

EXERCISE

PRICE

EXPIRATION

DATE

VALUE

OPTIONS

PURCHASED

-

0

.0

%

Call

Lockheed

Martin

Corp

50

$

2,750,000

$

550

06/20/25

$

6,125

TOTAL

OPTIONS

PURCHASED

(Cost

$18,250)

50

$

2,750,000

6,125

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$100,573,065)

311,699,405

SHARES

DESCRIPTION

RATE

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.1%

429,186

(f)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

4

.360

%

(g)

429,186

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

(Cost

$429,186)

429,186

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

 2.1%

6,364,501

REPURCHASE

AGREEMENTS

-

2

.1

%

6,364,501

$

6,364,501

(h)

Fixed

Income

Clearing

Corporation

1

.360

04/01/25

6,364,501

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$6,364,501)

6,364,501

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$6,364,501)

6,364,501

TOTAL

INVESTMENTS

-

102

.4

%

(Cost

$

107,366,752

)

318,493,092

OTHER

ASSETS

&

LIABILITIES,

NET

-  (2.4)%

(

7,542,054

)

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

310,951,038

ADR

American

Depositary

Receipt

ETF

Exchange-Traded

Fund

REIT

Real

Estate

Investment

Trust

S&P

Standard

&

Poor's

SPDR

Standard

&

Poor's

Depositary

Receipt

(a)

Non-income

producing;

issuer

has

not

declared

an

ex-dividend

date

within

the

past

twelve

months.

(b)

Investment,

or

a

portion

of

investment,

is

out

on

loan

for

securities

lending.

The

total

value

of

the

securities

out

on

loan

as

of

the

end

of

the

reporting

period

was

$407,580.

(c)

Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

derivatives.

(d)

Exchange-traded,

unless

otherwise

noted.

(e)

For

disclosure

purposes,

Notional

Amount

is

calculated

by

multiplying

the

Number

of

Contracts

by

the

Exercise

Price

by

100.

(f)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

(g)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

(h)

Agreement

with

Fixed

Income

Clearing

Corporation,

1.360%

dated

3/31/25

to

be

repurchased

at

$6,364,741

on

4/1/25,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

3.875%

and

maturity

date

5/15/43,

valued

at

$6,491,913.

Options

Written

Type

Description

(a)

Number

of

Contracts

Notional

Amount

(b)

Exercise

Price

Expiration

Date

Value

Call

S&P

500

Index

(125)

$

(

70,500,000

)

$

5,640

4/17/25

$

(

1,041,250

)

Call

S&P

500

Index

(30)

(

17,700,000

)

5,900

4/17/25

(

15,150

)

Call

S&P

500

Index

(10)

(

6,000,000

)

6,000

4/30/25

(

4,250

)

Call

S&P

500

Index

(85)

(

51,850,000

)

6,100

4/30/25

(

11,475

)

Call

S&P

500

Index

(50)

(

30,000,000

)

6,000

5/02/25

(

29,000

)

Call

S&P

500

Index

(55)

(

32,725,000

)

5,950

5/16/25

(

105,325

)

Total

Options

Written

(premiums

received

$2,146,397)

(355)

$(208,775,000)

$(1,206,450)

Portfolio

of

Investments

March

31,

2025

(continued)

SPXX

10

Part

F

of

Form

N-PORT

was

prepared

in

accordance

with

U.S.

generally

accepted

accounting

principles

(“U.S.

GAAP”)

and

in

conformity

with

the

applicable

rules

and

regulations

of

the

U.S.

Securities

and

Exchange

Commission

(“SEC”)

related

to

interim

filings.

Part

F

of

Form

N-PORT

does

not

include

all

information

and

footnotes

required

by

U.S.

GAAP

for

complete

financial

statements.

Certain

footnote

disclosures

normally

included

in

financial

statements

prepared

in

accordance

with

U.S.

GAAP

have

been

condensed

or

omitted

from

this

report

pursuant

to

the

rules

of

the

SEC.

For

a

full

set

of

the

Fund’s

notes

to

financial

statements,

please

refer

to

the

Fund’s

most

recently

filed

annual

or

semi-annual

report.

Fair

Value

Measurements

The

Fund’s

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Board

of

Directors/

Trustees.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

The

following

table

summarizes

the

market

value

of

the

Fund's

investments

as

of

the

end

of

the

reporting

period,

based

on

the

inputs

used

to

value

them:

(a)

Exchange-traded,

unless

otherwise

noted.

(b)

For

disclosure

purposes,

Notional

Amount

is

calculated

by

multiplying

the

Number

of

Contracts

by

the

Exercise

Price

by

100.

SPXX

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Common

Stocks

$

306,531,060

$

–

$

–

$

306,531,060

Exchange-Traded

Funds

5,162,220

–

–

5,162,220

Options

Purchased

6,125

–

–

6,125

Investments

Purchased

with

Collateral

from

Securities

Lending

429,186

–

–

429,186

Short-Term

Investments:

Repurchase

Agreements

–

6,364,501

–

6,364,501

Investments

in

Derivatives:

Options

Written

(

1,206,450

)

–

–

(

1,206,450

)

Total

$

310,922,141

$

6,364,501

$

–

$

317,286,642