Penn Series Funds, Inc.

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.


	Par (000)		Value†
AGENCY OBLIGATION — 59.9%
Federal Farm Credit Banks
5.050%, 11/06/17	$	1,000	$	1,003,846
1.002%, 11/29/17		6,000		5,990,333
1.125%, 12/18/17		2,000		2,001,198
0.940%, 03/19/18		1,500		1,498,404
0.700%, 04/06/18		1,360		1,356,443
Federal Home Loan Banks
1.063%, 10/16/17		6,000		5,997,527
0.850%, 02/27/18		1,730		1,727,746
1.375%, 03/09/18		1,400		1,401,082
1.136%, 03/13/18		4,500		4,477,118
Federal Home Loan Mortgage Corp.
0.950%, 10/02/17		5,000		5,000,000
(1 M ICE LIBOR + 0.040%) 1.276%, 11/13/17 •		4,725		4,725,848
0.750%, 01/12/18		2,750		2,746,913
Federal National Mortgage Association
2.300%, 11/24/17		5,000		5,009,107
0.992%, 12/06/17		5,000		4,991,063
1.000%, 01/30/18		2,000		1,999,040
0.875%, 02/08/18		2,310		2,307,555
Tennessee Valley Authority
1.001%, 10/10/17		6,000		5,998,667

Total AGENCY OBLIGATION (Cost $58,231,890)				58,231,890


U.S. TREASURY OBLIGATIONS — 34.9%
U.S. Treasury Bill
1.050%, 10/05/17		6,500		6,499,432
1.175%, 10/12/17		5,500		5,498,208
1.092%, 10/19/17		3,000		2,998,456
0.971%, 12/14/17		5,000		4,990,175
U.S. Treasury Note
0.875%, 10/15/17		3,000		2,999,801
(3 M UST Bill Money Market Yield + 0.170%) 1.221%, 10/31/17 •		3,000		3,000,402
0.750%, 12/31/17		8,000		7,992,884
TOTAL U.S. TREASURY OBLIGATIONS (Cost $33,979,358)				33,979,358


	Number of Shares		Value†
SHORT-TERM INVESTMENTS — 5.4%
Goldman Sachs Financial Square Funds - Government Fund (Cost $5,281,851)		5,281,851		5,281,851

TOTAL INVESTMENTS — 100.2% (Cost $97,493,099)			$	97,493,099

Other Assets & Liabilities — (0.2)%				(199,736	)

TOTAL NET ASSETS — 100.0%			$	97,293,363

†	See Security Valuation Note.


	Par (000)		Value†
ASSET BACKED SECURITIES — 23.0%
Ally Auto Receivables Trust 2014-2 2.100%, 03/16/20	$	1,000	$	1,003,515
AmeriCredit Automobile Receivables Trust 2013-5 2.290%, 11/08/19		623		624,070
Apidos CLO XVIII 2014 (3 M ICE LIBOR + 3.250%) 4.563%, 07/22/26 144A @,•		1,000		1,005,632
B&M CLO 2014-1 Ltd. 2014 (3 M ICE LIBOR + 2.800%) 4.104%, 04/16/26 144A @,•		1,500		1,508,684
Brentwood CLO Corp. 2006-1A (3 M ICE LIBOR + 0.820%) 2.131%, 02/01/22 144A @,•		2,000		1,991,144
Chrysler Capital Auto Receivables Trust 2013-BA 2.240%, 09/16/19 144A @		1,705		1,707,517
Chrysler Capital Auto Receivables Trust 2014-B BA 1.760%, 12/16/19 144A @		1,715		1,716,731
Consumers Securitization Funding LLC 2014-A 1.334%, 11/01/20		1,241		1,235,652
Entergy Arkansas Restoration Funding LLC 2.300%, 08/01/21		970		973,054
Equity One Mortgage Pass-Through Trust 2004-1 4.145%, 04/25/34 •		1		915
Ford Credit Auto Owner Trust 2013-D 1.540%, 03/15/19		2,780		2,780,047
Ford Credit Auto Owner Trust 2014-A 1.710%, 05/15/19		1,450		1,451,536
Grayson CLO Ltd. 1A (3 M ICE LIBOR + 0.700%) 2.011%, 11/01/21 144A @,•		2,000		1,984,880
Greenbriar CLO Ltd. 1A (3 M ICE LIBOR + 1.750%) 3.061%, 11/01/21 144A @,•		3,367		3,368,179
Honda Auto Receivables Owner Trust 2014-4 1.460%, 10/15/20		2,500		2,499,986
Limerock CLO III LLC 2014-3A (3 M ICE LIBOR + 1.200%) 2.507%, 10/20/26 144A @,•		1,695		1,697,056
Mercedes-Benz Auto Lease Trust 2016-B 1.350%, 08/15/19		2,500		2,493,157
Navient Private Education Loan Trust 2015-A (1 M ICE LIBOR + 1.700%) 2.934%, 11/15/30 144A @,•		1,500		1,555,693
Nissan Auto Lease Trust 2016-A 1.490%, 03/15/19		2,500		2,499,699
Rockwall CDO II Ltd. 2007-1A (3 M ICE LIBOR + 0.700%) 2.011%, 08/01/24 144A @,•		2,065		2,052,350


	Par (000)		Value†

SLM Student Loan Trust 2005-10 (3 M ICE LIBOR + 0.270%) 1.584%, 10/26/26 •	$	2,438	$	2,350,951
SMB Private Education Loan Trust 2015-C (1 M ICE LIBOR + 1.950%) 3.184%, 08/16/32 144A @,•		2,405		2,499,242
Sound Point CLO VI Ltd. 2014-2A (3 M ICE LIBOR + 1.140%) 2.447%, 10/20/26 144A @,•		2,500		2,506,350
Sound Point CLO VIII Ltd. 2015-1A (3 M ICE LIBOR + 1.530%) 2.834%, 04/15/27 144A @,•		1,885		1,887,777
Susquehanna Auto Receivables Trust 2014-1 1A 1.430%, 08/15/19 144A @		691		691,000
THL Credit Wind River 2014-2 CLO Ltd. (3 M ICE LIBOR + 1.450%) 2.754%, 07/15/26 144A @,•		900		900,422
Toyota Auto Receivables 2016-C 1.000%, 01/15/19		877		876,187
Westchester CLO Ltd. 2007-1A B (3 M ICE LIBOR + 0.440%) 1.751%, 08/01/22 144A @,•		2,500		2,485,610
TOTAL ASSET BACKED SECURITIES (Cost $48,038,669)				48,347,036

COMMERCIAL MORTGAGE BACKED SECURITIES — 12.1%
BAMLL Commercial Mortgage Securities Trust 2013-DSNY, Class B (1 M ICE LIBOR + 1.500%) 2.727%, 09/15/26 144A @,•		1,000		1,001,638
Chicago Skyscraper Trust 2017 SKY SKY (1 M ICE LIBOR + 1.100%) 2.334%, 02/15/30 144A @,•		1,000		1,000,621
FHLMC Multifamily Structured Pass-Through Certificates Series K019 Class X1 1.820%, 03/25/22 •		28,677		1,759,483
FREMF Mortgage Trust Series 2010-K6 Class B 5.542%, 12/25/46 144A @,•		3,000		3,187,363
FREMF Mortgage Trust Series 2011144A @,•
5.685%, 04/25/20 K7 Class B		1,200		1,284,509
4.931%, 04/25/44 K702 Class B		2,275		2,297,170
5.341%, 02/25/47 K14 Class B		1,050		1,134,661
FREMF Mortgage Trust Series 2012144A @,•
3.883%, 02/25/45 K708 Class C		2,000		2,023,174
3.942%, 06/25/47 K710 Class C		2,110		2,137,256
FREMF Mortgage Trust Series 2013-KF02 Class C (1 M ICE LIBOR + 4.000%) 5.232%, 12/25/45 144A @,•		399		402,840
Government National Mortgage Association 2011 3.200%, 11/16/44		447		448,031
GS Mortgage Securities Trust 2010-C1 C1 5.148%, 08/10/43 144A @		2,000		2,111,641


	Par (000)		Value†
COMMERCIAL MORTGAGE BACKED SECURITIES — (continued)
GS Mortgage Securities Trust 2013-NYC5 Class G 3.771%, 01/10/30 144A @,•	$	2,000	$	2,004,364
GSCCRE Commercial Mortgage Trust 2015-HULA Class B (1 M ICE LIBOR + 2.300%) 3.534%, 08/15/32 144A @,•		2,000		2,006,233
WFRBS Commercial Mortgage Trust 2012- C7 Class XA 1.603%, 06/15/45 144A @,•		51,610		2,711,945

TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES (Cost $26,174,787)				25,510,929

CORPORATE BONDS — 51.8%
Airlines — 10.2%
American Airlines 2013-1 Class C Pass Through Trust 6.125%, 07/15/18 144A @		2,004		2,052,982
Continental Airlines 1999-1 Class A, Pass Through Trust 6.545%, 08/02/20		496		513,377
Continental Airlines 1999-2 Pass Through Trust 7.256%, 09/15/21		1,524		1,619,671
Continental Airlines 2000-2 Pass Through Trust 7.707%, 10/02/22		376		404,822
Continental Airlines 2012-1 Class B Pass Through Trust 6.250%, 10/11/21		1,516		1,599,593
Continental Airlines 2012-3 Class C Pass Through Trust 6.125%, 04/29/18		1,910		1,950,588
Delta Air Lines 2007-1 Class B Pass Through Trust 8.021%, 02/10/24		1,063		1,212,045
Delta Air Lines 2010-1 Class A Pass Through Trust 6.200%, 01/02/20		980		1,009,303
Delta Air Lines 2012-1 Class B Pass Through Trust 6.875%, 05/07/19 144A @		2,086		2,200,617
Delta Air Lines, Inc. 2.875%, 03/13/20		2,000		2,022,491
Northwest Airlines 2007-1 Class A Pass Through Trust 7.027%, 05/01/21		2,485		2,711,876
Northwest Airlines 2007-1 Class B Pass-Through Trust 8.028%, 05/01/19		1,824		1,842,454
US Airways 2012-1 Class B Pass Through Trust 8.000%, 04/01/21		2,151		2,333,405

				21,473,224


	Par (000)		Value†

Auto Manufacturers — 1.0%
American Honda Finance Corp. 1.550%, 12/11/17	$	2,000	$	2,000,709

Banks — 3.2%
Citigroup, Inc. 6.125%, 05/15/18		1,600		1,642,120
JPMorgan Chase Bank NA 1.450%, 09/21/18		1,000		998,297
State Street Corp. 4.956%, 03/15/18		3,000		3,042,138
Wells Fargo Bank NA 6.000%, 11/15/17		1,000		1,005,300

				6,687,855

Beverages — 0.4%
Anheuser-Busch InBev Worldwide, Inc. (3 M ICE LIBOR + 0.690%) 2.001%, 08/01/18 •		900		904,337

Building Materials — 1.0%
Martin Marietta Materials, Inc. (3 M ICE LIBOR + 0.650%) 1.965%, 05/22/20 •		2,000		2,008,088

Chemicals — 1.7%
CF Industries, Inc. 6.875%, 05/01/18		2,000		2,055,000
Methanex Corp. 3.250%, 12/15/19		1,453		1,466,367

				3,521,367

Computers — 0.9%
EMC Corp. 1.875%, 06/01/18		2,000		1,992,060

Diversified Financial Services — 3.3%
Air Lease Corp. 2.625%, 09/04/18		2,000		2,015,896
Ally Financial, Inc.
3.600%, 05/21/18		1,000		1,007,700
3.250%, 11/05/18		1,000		1,008,910
Ford Motor Credit Co. LLC 1.724%, 12/06/17		2,000		2,000,140
Visa, Inc. 1.200%, 12/14/17		1,000		1,000,345

				7,032,991

Electric — 1.2%
Fortive Corp. 1.800%, 06/15/19		1,500		1,498,619
San Diego Gas & Electric Co. 1.914%, 02/01/22		1,032		1,025,451

				2,524,070

Entertainment — 0.8%
Scientific Games International, Inc. 7.000%, 01/01/22 144A @		1,500		1,591,875


	Par (000)		Value†
CORPORATE BONDS — (continued)
Food — 1.7%
Mondelez International Holdings Netherlands BV 1.625%, 10/28/19 144A @	$	1,500	$	1,488,514
Smithfield Foods, Inc. 2.700%, 01/31/20 144A @		2,000		2,006,158

				3,494,672

Healthcare Products — 0.5%
Stryker Corp. 2.000%, 03/08/19		1,000		1,002,108

Healthcare Services — 5.0%
Abbott Laboratories 2.350%, 11/22/19		2,000		2,016,288
Aetna Inc. 1.700%, 06/07/18		1,500		1,500,997
Becton Dickinson and Co. 2.404%, 06/05/20		2,000		2,007,017
HCA, Inc. 3.750%, 03/15/19		3,000		3,063,750
Zimmer Biomet Holdings, Inc. 2.000%, 04/01/18		2,000		2,002,054

				10,590,106

Housewares — 1.1%
Newell Brands, Inc. 5.000%, 11/15/23		2,250		2,399,174

Internet — 0.5%
eBay Inc. 2.500%, 03/09/18		1,000		1,003,873

Machinery — Diversified — 1.4%
Stanley Black & Decker, Inc.
1.622%, 11/17/18		2,000		1,995,624
2.451%, 11/17/18		1,000		1,006,322

				3,001,946

Media — 1.5%
Historic TW, Inc. 6.875%, 06/15/18		2,000		2,068,906
Time Warner Cos, Inc. 7.250%, 10/15/17		1,117		1,119,070

				3,187,976

Oil & Gas — 1.9%
Chevron Corp. 1.345%, 11/15/17		2,000		2,000,185
EQT Corp. 2.500%, 10/01/20		1,000		1,003,722
Rice Energy, Inc. 7.250%, 05/01/23		1,000		1,077,500

				4,081,407

Oil & Gas Services — 1.0%
Schlumberger Holdings Corp. 2.350%, 12/21/18 144A @		2,000		2,011,463


	Par (000)		Value†

Pharmaceuticals — 1.4%
Shire Acquisitions Investments Ireland DAC 1.900%, 09/23/19	$	2,000	$	1,996,046
Teva Pharmaceutical Finance Netherlands III BV 1.700%, 07/19/19		1,000		985,546

				2,981,592

Pipelines — 3.4%
Midcontinent Express Pipeline LLC 6.700%, 09/15/19 144A @		1,500		1,606,875
NuStar Logistics LP 8.150%, 04/15/18		1,500		1,545,000
Rockies Express Pipeline LLC144A @
6.850%, 07/15/18		950		980,875
6.000%, 01/15/19		2,000		2,070,000
Targa Resources Partners LP 5.000%, 01/15/18		1,000		1,000,000

				7,202,750

Retail — 1.2%
Alimentation Couche-Tard, Inc. 2.700%, 07/26/22 144A @		1,000		1,003,240
QVC, Inc. 3.125%, 04/01/19		1,500		1,515,284

				2,518,524

Semiconductors — 1.9%
NXP BV/NXP Funding LLC144A @
3.750%, 06/01/18		1,000		1,010,000
5.750%, 03/15/23		1,000		1,043,750
QUALCOMM, Inc. (3 M ICE LIBOR + 0.450%) 1.766%, 05/20/20 •		2,000		2,012,667

				4,066,417

Software — 2.2%
Activision Blizzard, Inc. 2.300%, 09/15/21		1,000		994,360
CDK Global, Inc. 3.800%, 10/15/19		1,500		1,543,125
VMware, Inc. 2.300%, 08/21/20		2,000		2,005,855

				4,543,340

Telecommunications — 2.2%
Crown Castle Towers LLC 6.113%, 01/15/40 144A @		1,867		1,994,862
Sprint Communications, Inc. 9.000%, 11/15/18 144A @		556		597,238
Sprint Spectrum Co. LLC 3.360%, 03/20/23 144A @		2,000		2,030,000

				4,622,100

Trucking and Leasing — 1.2%
Aviation Capital Group Corp. 2.875%, 09/17/18 144A @		1,500		1,512,779


	Par (000)		Value†
CORPORATE BONDS — (continued)
Trucking and Leasing — (continued)
Park Aerospace Holdings Ltd. 3.625%, 03/15/21 144A @	$	1,000	$	1,002,500

				2,515,279

TOTAL CORPORATE BONDS (Cost $108,516,003)				108,959,303

MUNICIPAL BOND — 1.1%
State of California, Los Angeles Department of Water & Power Power System Revenue 6.166%, 07/01/40 (Cost $2,204,791)		2,000		2,203,680

RESIDENTIAL MORTGAGE BACKED SECURITIES — 0.0%
Fannie Mae Pool — 0.0%
Fannie Mae Pool 4.000%, 06/01/20 (Cost $57,491)		57		59,110

U.S TREASURY OBLIGATION — 10.0%
U.S. Treasury Inflation Indexed Bonds
0.125%, 04/15/20		2,613		2,626,094
0.375%, 07/15/27		5,004		4,955,608
U.S. Treasury Note
1.000%, 03/15/18		650		649,389
1.250%, 12/15/18		3,000		2,994,726
1.375%, 12/31/18		1,250		1,249,560
1.250%, 01/31/19		2,500		2,494,629
0.875%, 04/15/19		1,500		1,487,227
1.625%, 12/31/19		2,000		2,004,453
0.125%, 04/15/21		2,582		2,590,194

Total U.S TREASURY OBLIGATION (Cost $21,146,573)				21,051,880

	Number of Shares		Value†
SHORT-TERM INVESTMENTS — 1.0%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $2,122,654)		2,122,654		2,122,654

TOTAL INVESTMENTS — 99.0% (Cost $208,260,968)			$	208,254,592

Other Assets & Liabilities — 1.0%				2,078,246

TOTAL NET ASSETS — 100.0%			$	210,332,838

†	See Security Valuation Note.

144A

@ Security sold within the terms of a private placement memorandum, restricted and/or exempt from registration under Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in the program or other “accredited investors”. Unless otherwise indicated, the security is considered liquid.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price			Level 2 Signi- ficant Obser- vable Input		Level 3 Signi- ficant Unobser- vable Input
U.S TREASURY OBLIGATION	$	21,051,880		$	—		$	21,051,880	$	—
ASSET BACKED SECURITIES		48,347,036			—			48,347,036		—
COMMERCIAL MORTGAGE BACKED SECURITIES		25,510,929			—			25,510,929		—
CORPORATE BONDS		108,959,303			—			108,959,303		—
MUNICIPAL BONDS		2,203,680			—			2,203,680		—
RESIDENTIAL MORTGAGE BACKED SECURITIES		59,110			—			59,110		—
SHORT-TERM INVESTMENTS		2,122,654			2,122,654			—		—

TOTAL INVESTMENTS	$	208,254,592		$	2,122,654		$	206,131,938	$	—

OTHER FININCIAL INSTRUMENTS(1)
Futures Contracts	$	8,438		$	8,438		$	—	$	—

TOTAL ASSETS - OTHER FINANCIAL INSTRUMENTS	$	8,438		$	8,438		$	—	$	—


LIABILITIES TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price			Level 2 Signi- ficant Obser- vable Input		Level 3 Signi- ficant Unobser- vable Input
OTHER FINANCIAL INSTRUMENTS(1)
Futures Contracts	$	(94,374	)	$	(94,374	)	$	—	$	—

TOTAL LIABILITIES - OTHER FINANCIAL INSTRUMENTS	$	(94,374	)	$	(94,374	)	$	—	$	—

(1)	Other financial instruments are derivative instruments not reflected in the value of total investments in securities in the Schedule of Investments such as future contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

It is the Fund’s practice to recognize transfers in and transfers out at the fair value as of the beginning of period. The Fund did not have any transfers in and transfers out of Level 2 or Level 3 fair value hierarchy during the reporting period.

Futures Contracts:


Type	Futures Contract	Expir- ation Date		Number of Cont- racts			Units per Cont- ract		Clos- ing Price		Noti- onal Value			Unre- alized Appre- ciation		Unre- alized Depre- ciation
Sell/ Short	US Treasury Note		12/31/2017		(20	)		1,000	$	118	$	(2,350,000	)	$	8,438	$	—
Buy/Long	US Treasury Note		12/31/2017		280			2,000		108		60,480,000			—		94,374

														$	8,438	$	94,374

The accompanying notes are an integral part of the financial statements.


	Par (000)		Value†
AGENCY OBLIGATIONS — 2.9%
Federal Home Loan Bank Bonds — 1.5%
Federal Home Loan Banks 2.750%, 07/11/31	$	8,000	$	7,664,040

Government National Mortgage Association — 1.4%
Government National Mortgage Association 3.443%, 12/16/52 •		5,000		5,059,118
Government National Mortgage Association 4.649%, 10/16/45 •		2,000		2,103,061

				7,162,179

Total AGENCY OBLIGATIONS (Cost $14,778,088)				14,826,219

ASSET BACKED SECURITIES — 10.9%
Brentwood CLO Corp. 2006-1A (3 M ICE LIBOR + 0.820%) 2.131%, 02/01/22 144A @,•		4,000		3,982,288
Chrysler Capital Auto Receivables Trust 2014-BA 2.700%, 05/15/20 144A @		3,000		3,020,554
Cole Park CLO Ltd. 2015-1A 3.130%, 10/20/28 144A @		2,993		2,992,982
Ford Credit Auto Owner Trust 2013-D 1.540%, 03/15/19		6,800		6,800,114
KeyCorp Student Loan Trust 2006-A (3 M ICE LIBOR + 0.310%) 1.640%, 09/27/35 •		2,111		2,108,557
Navient Private Education Loan Trust 2015-A (1 M ICE LIBOR + 1.700%) 2.934%, 11/15/30 144A @,•		3,000		3,111,387
Rockwall CDO II Ltd. 2007-1A (3 M ICE LIBOR + 0.700%) 2.011%, 08/01/24 144A @,•		4,000		3,975,496
SLM Student Loan Trust• (3 M ICE LIBOR + 0.270%) 1.584%, 10/26/26 2005-10		5,000		4,821,474
(1 M ICE LIBOR + 1.000%) 2.237%, 04/27/43 2012-6		7,205		6,577,237
SMB Private Education Loan Trust 2015-C (1 M ICE LIBOR + 1.950%) 3.184%, 08/16/32 144A @,•		5,000		5,195,929
Sound Point CLO VI Ltd. 2014-2A (3 M ICE LIBOR + 1.140%) 2.447%, 10/20/26 144A @,•		5,000		5,012,700
Stratford CLO Ltd. 2007 (3 M ICE LIBOR + 2.000%) 3.311%, 11/01/21 144A @,•		3,500		3,506,300
Westchester CLO Ltd. 2007-1A B (3 M ICE LIBOR + 0.440%) 1.751%, 08/01/22 144A @,•		4,500		4,474,098

TOTAL ASSET BACKED SECURITIES (Cost $55,248,567)				55,579,116


	Par (000)		Value†
COMMERCIAL MORTGAGE BACKED SECURITIES — 18.4%
CFCRE Commercial Mortgage Trust 2011-C1 4.961%, 04/15/44 144A @,•	$	1,000	$	1,060,176
FHLMC Multifamily Structured Pass-Through Certificates
1.820%, 03/25/22 Series K019 Class X1 •		51,736		3,174,253
3.062%, 12/25/24 Series K058 Class A2		5,636		5,808,081
2.811%, 01/25/25 Series K044 Class A2		5,000		5,067,532
3.010%, 07/25/25 Series K049 Class A2		5,405		5,532,644
2.525%, 05/25/26 Series K056 Class A2		5,000		4,913,020
2.653%, 08/25/26 Series K058 Class A2		5,000		4,949,687
3.347%, 11/25/26 Series K061 Class A2 •		4,750		4,948,211
Freddie Mac REMICS Series 4640 Class LG 3.500%, 09/15/43		5,899		6,033,683
FREMF Mortgage Trust Series 2010-K6 Class B 5.542%, 12/25/46 144A @,•		7,795		8,281,832
FREMF Mortgage Trust Series 2012 K710 Class C 3.942%, 06/25/47 144A @•		5,175		5,241,848
FREMF Mortgage Trust Series 2012-K19 Class C 4.172%, 05/25/45 144A @,•		4,500		4,592,570
FREMF Mortgage Trust Series 2012-K20 Class C 4.005%, 05/25/45 144A @,•		6,000		6,066,421
FREMF Mortgage Trust Series 2012-K23 Class C 3.781%, 10/25/45 144A @,•		5,000		5,007,489
FREMF Mortgage Trust Series 2012-K707 Class B 4.020%, 01/25/47 144A @,•		8,272		8,414,679
FREMF Mortgage Trust Series 2012-K711 Class C 3.684%, 08/25/45 144A @,•		6,000		6,050,444
FREMF Mortgage Trust Series 2013-KF02 Class C (1 M ICE LIBOR + 4.000%) 5.232%, 12/25/45 144A @,•		399		402,840
FREMF Mortgage Trust Series 2014-K503 Class B 3.071%, 10/25/47 144A @,•		5,000		5,045,937
GS Mortgage Securities Trust 2013-NYC5 Class G 3.771%, 01/10/30 144A @,•		2,000		2,004,364
Hilton USA Trust 2014-ORL Class B (1 M ICE LIBOR + 1.200%) 2.434%, 07/15/29 144A @,•		1,500		1,502,826

TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES (Cost $94,255,482)				94,098,537

CORPORATE BONDS — 45.9%
Aerospace & Defense — 0.6%
Lockheed Martin Corp. 3.100%, 01/15/23		3,000		3,089,934


	Par (000)		Value†
CORPORATE BONDS — (continued)
Airlines — 4.4%
Air Canada 2013-1 Class B Pass Through Trust 5.375%, 11/15/22 144A @	$	2,033	$	2,143,014
Continental Airlines 2012-1 Class B Pass Through Trust 6.250%, 10/11/21		775		817,988
Continental Airlines 2012-3 Class C Pass Through Trust 6.125%, 04/29/18		3,500		3,574,375
Delta Air Lines 2007-1 Class A Pass Through Trust 6.821%, 02/10/24		3,530		4,068,420
Delta Air Lines 2015-1 Class B Pass Through Trust 4.250%, 01/30/25		2,621		2,730,678
Northwest Airlines 2007-1 Class A Pass Through Trust 7.027%, 05/01/21		3,668		4,001,751
United Airlines 2014-1 Class B Pass Through Trust 4.750%, 10/11/23		2,373		2,471,256
United Airlines 2016-1 Class AA Pass Through Trust 3.100%, 01/07/30		3,000		2,995,710

				22,803,192

Banks — 6.3%
BAC Capital Trust XIII (3 M ICE LIBOR + 0.400%) 4.000%, 06/15/49 •		2,896		2,555,720
Bank of America Corp. 5.650%, 05/01/18		1,000		1,022,833
JPMorgan Chase & Co. 3.875%, 09/10/24		3,600		3,748,560
KeyCorp. Capital I (3 M ICE LIBOR + 0.740%) 2.075%, 07/01/28 •		1,150		1,084,450
Morgan Stanley 5.950%, 12/28/17		2,050		2,070,861
NTC Capital I (3 M ICE LIBOR + 0.520%) 1.824%, 01/15/27 •		5,595		5,231,325
PNC Capital Trust C (3 M ICE LIBOR + 0.570%) 1.886%, 06/01/28 •		2,000		1,865,000
State Street Corp. 4.956%, 03/15/18		5,915		5,998,082
(3 M ICE LIBOR + 0.560%) 1.875%, 05/15/28 •		2,000		1,845,000
USB Capital IX (3 M ICE LIBOR + 1.020%) 3.500%, 10/29/49 •		3,000		2,671,650
Wells Fargo & Co. 3.000%, 02/19/25		4,000		3,971,802

				32,065,283


	Par (000)		Value†

Biotechnology — 1.2%
Amgen, Inc.
2.700%, 05/01/22	$	3,000	$	3,015,404
2.650%, 05/11/22		2,000		2,016,330
Biogen, Inc. 6.875%, 03/01/18		1,000		1,021,394

				6,053,128

Building Materials — 1.4%
Martin Marietta Materials, Inc. 4.250%, 07/02/24		3,000		3,183,208
Vulcan Materials Co. 4.500%, 04/01/25		3,565		3,803,896

				6,987,104

Chemicals — 2.0%
CF Industries, Inc. 6.875%, 05/01/18		3,000		3,082,500
Methanex Corp. 3.250%, 12/15/19		3,159		3,188,061
Sherwin-Williams Co. 4.500%, 06/01/47		4,000		4,197,786

				10,468,347

Commercial Services — 0.6%
Drawbridge Special Opportunities Fund LP 5.000%, 08/01/21 144A @		2,000		2,038,371
ERAC USA Finance LLC 2.350%, 10/15/19 144A @		1,000		1,004,053

				3,042,424

Computers — 0.6%
Diamond 1 Finance Corp. 5.450%, 06/15/23 144A @		3,000		3,283,199

Diversified Financial Services — 1.9%
Air Lease Corp. 3.750%, 02/01/22		2,000		2,085,568
GE Capital International Funding Co. Unlimited Co. 4.418%, 11/15/35		4,000		4,349,591
General Electric Capital Corp. 7.500%, 08/21/35		2,263		3,188,710

				9,623,869

Electric — 0.8%
FirstEnergy Corp. 3.900%, 07/15/27		4,000		4,062,154

Engineering & Construction — 0.6%
SBA Tower Trust 3.156%, 10/10/45 144A @		3,000		3,022,127

Food — 2.7%
Kellogg Co.
2.650%, 12/01/23		3,000		2,980,732
4.500%, 04/01/46		3,000		3,118,616
Land O’ Lakes, Inc. 6.000%, 11/15/22 144A @		3,500		3,946,250


	Par (000)		Value†
CORPORATE BONDS — (continued)
Food — (continued)
Smithfield Foods, Inc. 3.350%, 02/01/22 144A @	$	3,000	$	3,057,138
WM Wrigley Jr. Co. 2.400%, 10/21/18 144A @		1,000		1,006,320

				14,109,056

Forest Products & Paper — 0.5%
Georgia-Pacific LLC 3.163%, 11/15/21 144A @		2,500		2,555,662

Healthcare Products — 2.2%
Abbott Laboratories 3.750%, 11/30/26		3,000		3,078,302
Becton Dickinson and Co. 3.700%, 06/06/27		3,000		3,033,268
Covidien International Finance SA 6.000%, 10/15/17		1,000		1,001,435
Edwards Lifesciences Corp. 2.875%, 10/15/18		1,000		1,010,620
Stryker Corp. 3.375%, 11/01/25		2,000		2,048,155
Zimmer Biomet Holdings, Inc. 4.625%, 11/30/19		1,000		1,049,165

				11,220,945

Healthcare Services — 0.6%
HCA, Inc. 3.750%, 03/15/19		3,000		3,063,750

Housewares — 1.5%
Newell Brands, Inc. 5.000%, 11/15/23		3,517		3,750,175
Newell Rubbermaid, Inc. 4.200%, 04/01/26		2,000		2,106,079
Toll Brothers Finance Corp. 4.875%, 03/15/27		2,000		2,065,200

				7,921,454

Insurance — 1.2%
New York Life Insurance Co. 5.875%, 05/15/33 144A @		4,925		6,217,542

Investment Companies — 0.2%
Ares Capital Corp. 4.875%, 11/30/18		1,000		1,028,427

Lodging — 0.7%
Marriott International, Inc. 4.500%, 10/01/34		3,500		3,691,151

Media — 1.5%
Charter Communications Operating LLC 4.464%, 07/23/22		3,000		3,174,079
Comcast Cable Holdings LLC 9.875%, 06/15/22		1,000		1,255,926
Historic TW, Inc. 6.875%, 06/15/18		3,000		3,103,359

				7,533,364


	Par (000)		Value†

Mining — 0.2%
Goldcorp, Inc. 3.625%, 06/09/21	$	1,000	$	1,036,007

Oil & Gas — 0.7%
BG Energy Capital PLC 4.000%, 10/15/21 144A @		1,000		1,055,645
BP Capital Markets PLC 2.500%, 11/06/22		2,500		2,499,223

				3,554,868

Pharmaceuticals — 2.3%
AbbVie, Inc. 2.300%, 05/14/21		3,000		2,995,057
GlaxoSmithKline Capital, Inc. 5.375%, 04/15/34		1,000		1,191,514
Mead Johnson Nutrition Co. 4.125%, 11/15/25		2,000		2,159,264
Mylan NV 3.000%, 12/15/18		2,000		2,022,580
Zoetis, Inc. 4.500%, 11/13/25		3,000		3,302,831

				11,671,246

Pipelines — 2.8%
Midcontinent Express Pipeline LLC 6.700%, 09/15/19 144A @		3,500		3,749,375
NuStar Logistics LP 8.150%, 04/15/18		3,000		3,090,000
Regency Energy Partners LP 5.875%, 03/01/22		2,000		2,213,741
Rockies Express Pipeline LLC 6.000%, 01/15/19 144A @		2,500		2,587,500
Tallgrass Energy Partners LP 5.500%, 09/15/24 144A @		2,500		2,568,750

				14,209,366

Real Estate Investment Trusts — 1.1%
American Tower Corp. 4.700%, 03/15/22		2,500		2,708,586
Kimco Realty Corp. 2.800%, 10/01/26		3,000		2,815,366

				5,523,952

Retail — 1.1%
Alimentation Couche-Tard, Inc. 3.550%, 07/26/27 144A @		3,000		3,025,284
McDonald’s Corp. 5.700%, 02/01/39		2,110		2,571,796

				5,597,080

Semiconductors — 0.6%
NXP BV/NXP Funding LLC 5.750%, 03/15/23 144A @		2,824		2,947,550

Software — 1.7%
Activision Blizzard, Inc. 6.125%, 09/15/23 144A @		2,000		2,145,000
CDK Global, Inc. 3.800%, 10/15/19		3,500		3,600,625


	Par (000)		Value†
CORPORATE BONDS — (continued)
Software — (continued)
VMware, Inc. 2.950%, 08/21/22	$	3,000	$	3,017,917

				8,763,542

Telecommunications — 2.7%
AT&T, Inc. 4.900%, 08/14/37		2,000		2,021,292
Crown Castle Towers LLC 3.663%, 05/15/45 144A @		4,000		4,100,000
Nokia OYJ
4.375%, 06/12/27		1,325		1,363,094
6.625%, 05/15/39		1,482		1,710,228
Sprint Communications, Inc. 9.000%, 11/15/18 144A @		1,298		1,394,272
Sprint Spectrum Co. LLC 3.360%, 03/20/23 144A @		3,000		3,045,000

				13,633,886

Transportation — 0.7%
BNSF Railway Co. 2015-1 Pass Through Trust 3.442%, 06/16/28 144A @		2,774		2,761,710
Federal Express Corp 1999 Pass Through Trust 7.650%, 07/15/24		966		1,094,537

				3,856,247

Trucking and Leasing — 0.5%
Aviation Capital Group Corp. 2.875%, 09/17/18 144A @		2,500		2,521,299

TOTAL CORPORATE BONDS (Cost $230,577,339)				235,157,155

MUNICIPAL BONDS — 2.8%
Florida Governmental Utility Authority, Lindrick Utility System, Build America Bonds 7.630%, 10/01/30		2,250		2,540,025
Northeast Ohio Regional Sewer District 6.038%, 11/15/40		3,755		4,151,866
Pennsylvania Economic Development Financing Authority, UPMC Revenue Bonds 4.000%, 11/15/42		2,000		2,050,100
State of California, Los Angeles Department of Water & Power Power System Revenue 6.166%, 07/01/40		5,000		5,509,200

Total MUNICIPAL BONDS (Cost $14,271,712)				14,251,191

RESIDENTIAL MORTGAGE BACKED SECURITIES — 8.5%
Fannie Mae Pool — 8.1%
4.000%, 08/01/41		4,674		4,943,196
2.500%, 01/01/43		2,627		2,555,785
2.500%, 02/01/43		7,612		7,404,657


	Par (000)		Value†

Fannie Mae Pool — (continued)
2.500%, 05/01/43	$	10,311	$	10,015,839
3.500%, 09/01/43		1,325		1,368,675
3.000%, 11/01/47		15,000		15,025,781

				41,313,933

Freddie Mac Gold Pool — 0.3%
3.500%, 01/01/41		1,748		1,812,220

Ginnie Mae Pool — 0.1%
6.000%, 10/15/38		247		278,051
6.000%, 10/15/38		145		163,905

				441,956

TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES (Cost $43,255,463)				43,568,109

U.S TREASURY OBLIGATION — 12.4%
U.S. Treasury Bond
2.250%, 11/15/24		3,000		3,014,766
2.125%, 05/15/25		2,500		2,483,789
1.625%, 05/15/26		1,500		1,422,774
4.375%, 02/15/38		4,350		5,527,899
2.875%, 05/15/43		2,400		2,419,125
3.625%, 08/15/43		2,000		2,295,156
3.750%, 11/15/43		2,050		2,402,984
U.S. Treasury Inflation Indexed Bonds
0.625%, 01/15/24		4,721		4,820,765
0.250%, 01/15/25		9,818		9,720,949
0.375%, 07/15/25		7,226		7,226,636
1.000%, 02/15/46		4,132		4,192,360
U.S. Treasury Note
2.000%, 07/31/22		1,000		1,003,867
1.625%, 08/15/22		3,000		2,961,797
1.500%, 02/28/23		2,500		2,436,133
1.750%, 05/15/23		2,900		2,857,746
2.500%, 08/15/23		2,000		2,051,563
2.000%, 02/15/25		3,500		3,452,148
2.375%, 05/15/27		3,100		3,112,836

Total U.S TREASURY OBLIGATION (Cost $63,673,436)				63,403,293

	Number of Shares		Value†
SHORT-TERM INVESTMENTS — 0.3%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $1,760,594)		1,760,594		1,760,594

TOTAL INVESTMENTS — 102.1% (Cost $517,820,681)			$	522,644,214

Other Assets & Liabilities — (2.1)%				(10,582,635	)

TOTAL NET ASSETS — 100.0%			$	512,061,579

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price			Level 2 Signi- ficant Obser- vable Input		Level 3 Signi- ficant Unobser- vable Input
U.S TREASURY OBLIGATION	$	63,403,293		$	—		$	63,403,293	$	—
AGENCY OBLIGATIONS		14,826,219			—			14,826,219		—
ASSET BACKED SECURITIES		55,579,116			—			55,579,116		—
COMMERCIAL MORTGAGE BACKED SECURITIES		94,098,537			—			94,098,537		—
CORPORATE BONDS		235,157,155			—			235,157,155		—
RESIDENTIAL MORTGAGE BACKED SECURITIES		43,568,109			—			43,568,109		—
MUNICIPAL BONDS		14,251,191			—			14,251,191		—
SHORT-TERM INVESTMENTS		1,760,594			1,760,594			—		—

TOTAL INVESTMENTS	$	522,644,214		$	1,760,594		$	520,883,620	$	—

OTHER FININCIAL INSTRUMENTS(1)
Futures Contracts	$	393,163		$	393,163		$	—	$	—

TOTAL ASSETS - OTHER FINANCIAL INSTRUMENTS	$	393,163		$	393,163		$	—	$	—


LIABILITIES TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price			Level 2 Signi- ficant Observ- able Input		Level 3 Signi- ficant Unobser- vable Input
OTHER FINANCIAL INSTRUMENTS(1)
Futures Contracts	$	(382,665	)	$	(382,665	)	$	—	$	—

TOTAL LIABILITIES - OTHER FINANCIAL INSTRUMENTS	$	(382,665	)	$	(382,665	)	$	—	$	—

(1)	Other financial instruments are derivative instruments not reflected in the value of total investments in securities in the Schedule of Investments such as future contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

Futures Contracts:


Type	Futures Contract	Expiration Date		Num- ber of Contr- acts			Units per Contr- act		Clos- ing Price		Notional Value			Unrea- lized Apprec- iation		Unre- alized Depre- ciation
Sell/Short	US Treasury Note		12/31/2017		(305	)		1,000	$	125	$	(38,125,000	)	$	393,163	$	—
Buy/Long	US Treasury Note		12/31/2017		150			1,000		118		17,700,000			—		12,704
Buy/Long	US Treasury Bond		12/31/2017		20			1,000		153		3,060,000			—		31,250
Buy/Long	US Treasury Ultra Bond		12/31/2017		115			1,000		165		18,975,000			—		338,711

														$	393,163	$	382,665

The accompanying notes are an integral part of the financial statements.


	Par (000)		Value†
ASSET BACKED SECURITIES — 0.1%
VB-S1 Issuer LLC, 2016-IA F 144A @ 6.901%, 06/15/46
(Cost $95,000)	$	95	$	97,923


	Number of Shares		Value†
COMMON STOCKS — 1.0%
Entertainment — 0.0%
New Cotai Participation, Class B*(1),144A @,^~		1		4,965

Media — 0.3%
Liberty Broadband Corp., Class A*		2,225		209,550
Liberty Broadband Corp., Class C*		3,500		333,550
Liberty Global PLC LiLAC, Class C*		286		6,664

				549,764

Oil & Gas — 0.3%
Frontera Energy Corp.*~		4,300		150,082
Frontera Energy Corp.*		9,079		316,883

				466,965

Real Estate — 0.1%
The Howard Hughes Corp.*		1,675		197,533

Telecommunications — 0.3%
T-Mobile US, Inc.*		9,400		579,604

TOTAL COMMON STOCKS (Cost $1,239,844)				1,798,831


	Par (000)		Value†
PREFERRED STOCKS — 1.0%
Diversified — 0.1%
Crown Castle International Corp.*		175		186,900

Electric — 0.3%
NextEra Energy, Inc.		7,200		398,016

Healthcare Products — 0.2%
Becton Dickinson and Co., CONV		6,850		378,531

Oil & Gas — 0.3%
Hess Corp.*		9,675		570,438

Packaging and Containers — 0.0%
Smurfit-Stone Container Corp. (Escrow) CONV.*(1),^,~		725		0

Telecommunications — 0.1%
T-Mobile US, Inc.*		1,463		146,168

TOTAL PREFERRED STOCKS (Cost $1,503,351)				1,680,053


	Par (000)		Value†
CORPORATE BONDS — 78.3%
Advertising — 0.5%
MDC Partners, Inc. 6.500%, 05/01/24 144A @	$	491	$	494,683
Outfront Media Capital LLC 5.625%, 02/15/24		400		417,000

				911,683

Aerospace & Defense — 0.7%
StandardAero Aviation Holdings, Inc. 10.000%, 07/15/23 144A @		902		998,965
Triumph Group, Inc. 7.750%, 08/15/25 144A @		240		252,600

				1,251,565

Airlines — 0.6%
American Airlines 2013-1 Class B Pass Through Trust 5.625%, 07/15/22 144A @		59		61,893
American Airlines Group, Inc. 5.500%, 10/01/19 144A @		650		680,875
United Airlines 2014-2 Class B Pass Through Trust 4.625%, 03/03/24		57		58,910
United Continental Holdings, Inc. 6.375%, 06/01/18		240		245,880

				1,047,558

Auto Manufacturers — 0.8%
Aston Martin Capital Holdings Ltd. 6.500%, 04/15/22 144A @		200		214,476
Tesla, Inc. 5.300%, 08/15/25 144A @		1,215		1,184,625

				1,399,101

Auto Parts & Equipment — 1.0%
Allison Transmission, Inc. 5.000%, 10/01/24 144A @		175		181,624
American Axle & Manufacturing, Inc. 6.250%, 04/01/25 144A @		865		882,300
Nexteer Automotive Group Ltd. 5.875%, 11/15/21 144A @		200		208,000
TI Group Automotive Systems LLC 8.750%, 07/15/23 144A @		375		397,500

				1,669,424

Banks — 3.4%
Ally Financial, Inc.
5.125%, 09/30/24		75		81,225
5.750%, 11/20/25		795		861,939
Banco Bilbao Vizcaya Argentaria S.A. (Euro 5 Yr Swap + 6.160%) 7.000%, 12/29/49 •		400		492,850
Banco Do Brasil (cayman) 9.000%, 12/18/65		250		268,500
Credit Agricole SA (USD Swap Semi 30/360 5 Yr + 4.900%) 7.875%, 12/29/49 144A @,•		400		447,360


	Par (000)		Value†
CORPORATE BONDS — (continued)
Banks — (continued)
Credit Suisse Group AG (USD Swap Semi 30/360 5 Yr + 4.600%) 7.500%, 12/29/49 144A @,•	$	385	$	435,054
Halyk Savings Bank of Kazakhstan JSC 7.250%, 01/28/21 144A @		400		440,622
Intesa Sanpaolo SpA (USD Swap Semi 30/360 5 Yr + 5.460%) 7.700%, 12/29/49 144A @,•		800		835,000
Societe Generale SA (USD Swap Semi 30/360 5 Yr + 6.240%) 7.375%, 12/29/49 144A @,•		425		460,063
Standard Chartered PLC (USD Swap Semi 30/360 5 Yr + 6.300%) 7.500%, 12/29/49 144A @,•		675		720,562
UniCredit SpA (USD Swap Semi 30/360 5 Yr + 5.180%) 8.000%, 04/03/49 •		780		821,691

				5,864,866

Building Materials — 0.5%
Masonite International Corp. 5.625%, 03/15/23 144A @		175		183,146
NCI Building Systems, Inc. 8.250%, 01/15/23 144A @		225		241,313
Norbord, Inc. 6.250%, 04/15/23 144A @		225		246,375
Summit Materials LLC/Summit Materials Finance Corp. 5.125%, 06/01/25 144A @		150		154,560

				825,394

Chemicals — 2.1%
CF Industries, Inc.
7.125%, 05/01/20		150		166,500
5.375%, 03/15/44		385		367,675
CVR Partners LP 9.250%, 06/15/23 144A @		725		772,125
H&E Equipment Services, Inc. 5.625%, 09/01/25 144A @		250		263,750
INEOS Group Holdings S.A. 5.625%, 08/01/24 144A @		375		389,531
Kissner Holdings LP 8.375%, 12/01/22 144A @		490		494,900
Platform Specialty Products Corp.
10.375%, 05/01/21 144A @		300		327,000
6.500%, 02/01/22 144A @		225		233,156
PQ Corp. 6.750%, 11/15/22 144A @		175		189,438
Rayonier AM Products, Inc. 5.500%, 06/01/24 144A @		20		19,375
Univar USA, Inc. 6.750%, 07/15/23 144A @		355		371,862

				3,595,312

Coal — 0.1%
Alliance Resource Operating Partners LP 7.500%, 05/01/25 144A @		225		233,438


	Par (000)		Value†

Commercial Services — 3.0%
Alliance Data Systems Corp. 5.875%, 11/01/21 144A @	$	315	$	327,600
Ashtead Capital, Inc.144A @
4.125%, 08/15/25		200		206,000
4.375%, 08/15/27		200		206,000
Booz Allen Hamilton, Inc. 5.125%, 05/01/25 144A @		230		232,300
Brand Energy & Infrastructure Services, Inc. 8.500%, 07/15/25 144A @		285		308,513
CDK Global, Inc. 4.875%, 06/01/27 144A @		320		328,800
Gartner, Inc. 5.125%, 04/01/25 144A @		110		116,050
Harland Clarke Holdings Corp.
6.875%, 03/01/20 144A @		125		128,750
9.250%, 03/01/21 144A @		215		221,450
8.375%, 08/15/22 144A @		230		246,100
Laureate Education, Inc. 8.250%, 05/01/25 144A @		520		560,300
Live Nation Entertainment, Inc. 4.875%, 11/01/24 144A @		10		10,350
Prime Security Services Borrower LLC 9.250%, 05/15/23 144A @		538		593,715
Team Health Holdings, Inc. 6.375%, 02/01/25 144A @		340		322,150
The ADT Corp. 6.250%, 10/15/21		175		194,447
TMS International Corp. 7.250%, 08/15/25 144A @		365		373,212
United Rentals North America, Inc.
5.500%, 05/15/27		225		239,906
4.875%, 01/15/28		600		603,000

				5,218,643

Computers — 0.9%
Dell International LLC 5.875%, 06/15/21 144A @		175		182,949
Riverbed Technology, Inc. 8.875%, 03/01/23 144A @		255		242,887
Western Digital Corp. 10.500%, 04/01/24		1,025		1,204,375

				1,630,211

Cosmetics & Personal Care — 0.2%
Avon International Operations, Inc. 7.875%, 08/15/22 144A @		275		285,313

Diversified Financial Services — 2.3%
Barclays PLC (GBP 5 Yr Swap + 6.100%) 7.875%, 12/29/49 •		360		527,624
BNP Paribas SA (USD Swap Semi 30/360 5 Yr + 5.150%) 7.375%, 02/19/66 •		415		468,950
Consolidated Energy Finance S.A.
6.750%, 10/15/19 144A @		296		301,180
6.875%, 06/15/25 144A @		225		235,969


	Par (000)		Value†
CORPORATE BONDS — (continued)
Diversified Financial Services — (continued)
Fly Leasing Ltd. 5.250%, 10/15/24	$	335	$	335,000
Ladder Capital Finance Holdings LLLP. 5.875%, 08/01/21 144A @		175		178,937
LPL Holdings, Inc. 5.750%, 09/15/25 144A @		825		855,277
Navient Corp. 8.000%, 03/25/20		250		275,625
NFP Corp. 6.875%, 07/15/25 144A @		360		365,400
Quicken Loans, Inc. 5.750%, 05/01/25 144A @		375		393,750
VFH Parent LLC 6.750%, 06/15/22 144A @		70		72,888

				4,010,600

Electric — 2.2%
AES Corp.
5.500%, 03/15/24		325		338,406
6.000%, 05/15/26		225		242,156
5.125%, 09/01/27		275		281,875
Calpine Corp.
5.375%, 01/15/23		300		292,170
5.500%, 02/01/24		260		247,000
DPL, Inc. 7.250%, 10/15/21		450		490,500
Dynegy, Inc. 5.875%, 06/01/23		165		164,175
NRG Energy, Inc.
7.250%, 05/15/26		955		1,024,238
6.625%, 01/15/27		690		722,775

				3,803,295

Engineering & Construction — 0.3%
Weekley Homes LLC 6.625%, 08/15/25 144A @		515		498,263

Entertainment — 2.3%
Codere Finance 2 Luxembourg S.A. 7.625%, 11/01/21 144A @		430		436,536
Eldorado Resorts, Inc.
7.000%, 08/01/23		525		568,312
6.000%, 04/01/25		135		141,750
EMI Music Publishing Group North America Holdings, Inc. 7.625%, 06/15/24 144A @		125		139,063
International Game Technology PLC 6.500%, 02/15/25 144A @		615		691,106
Scientific Games International, Inc. 10.000%, 12/01/22		1,860		2,059,950

				4,036,717

Environmental Control — 0.2%
Advanced Disposal Services, Inc. 5.625%, 11/15/24 144A @		175		182,875


	Par (000)		Value†

Environmental Control — (continued)
Wrangler Buyer Corp. 6.000%, 10/01/25 144A @	$	125	$	127,188

				310,063

Food — 2.0%
Albertsons Cos LLC
6.625%, 06/15/24		400		373,500
5.750%, 03/15/25		275		242,000
Chobani LLC 7.500%, 04/15/25 144A @		490		534,100
Dean Foods Co. 6.500%, 03/15/23 144A @		450		456,750
FAGE International SA/FAGE USA Dairy Industry, Inc. 5.625%, 08/15/26 144A @		425		442,000
Lamb Weston Holdings, Inc. 4.625%, 11/01/24 144A @		225		234,563
Minerva Luxembourg S.A.
7.750%, 01/31/23 144A @^		475		495,781
6.500%, 09/20/26 144A @		200		202,050
Post Holdings, Inc.
5.500%, 03/01/25 144A @		170		176,375
8.000%, 07/15/25 144A @^		175		197,750
5.750%, 03/01/27 144A @		170		175,100

				3,529,969

Forest Products & Paper — 0.1%
Cascades, Inc. 5.500%, 07/15/22 144A @		150		155,625

Gas — 0.6%
AmeriGas Partners LP
5.625%, 05/20/24		25		26,344
5.500%, 05/20/25		310		318,525
NGL Energy Partners LP
7.500%, 11/01/23		480		477,600
6.125%, 03/01/25		195		181,350

				1,003,819

Healthcare Products — 0.5%
Hill-Rom Holdings, Inc. 5.750%, 09/01/23 144A @		150		158,250
Kinetic Concepts, Inc. 12.500%, 11/01/21 144A @		480		534,000
Ortho-Clinical Diagnostics, Inc. 6.625%, 05/15/22 144A @		250		245,000

				937,250

Healthcare Services — 3.5%
Centene Corp. 6.125%, 02/15/24		100		108,125
Community Health Systems, Inc.
6.875%, 02/01/22		480		376,800
6.250%, 03/31/23		330		324,225
DaVita, Inc.
5.125%, 07/15/24		450		451,125
5.000%, 05/01/25		450		443,943


	Par (000)		Value†
CORPORATE BONDS — (continued)
Healthcare Services — (continued)
Eagle Holding Co. II LLC 7.625%, 05/15/22 144A @	$	120	$	124,500
HCA, Inc.
5.000%, 03/15/24		220		234,300
5.500%, 06/15/47		1,445		1,497,381
Mednax, Inc. 5.250%, 12/01/23 144A @		335		350,913
Molina Healthcare, Inc. 5.375%, 11/15/22		275		283,415
MPH Acquisition Holdings LLC 7.125%, 06/01/24 144A @		125		134,375
Surgery Center Holdings, Inc. 8.875%, 04/15/21 144A @		250		262,500
Tenet Healthcare Corp.
7.500%, 01/01/22 144A @		125		132,344
8.125%, 04/01/22		525		534,187
6.750%, 06/15/23		475		456,000
5.125%, 05/01/25 144A @		340		335,325

				6,049,458

Holding Companies — 0.2%
James Hardie International Finance 5.875%, 02/15/23 144A @		275		288,750

Home Builders — 0.7%
AV Homes, Inc. 6.625%, 05/15/22		160		165,000
Shea Homes LP 5.875%, 04/01/23 144A @		200		205,500
Taylor Morrison Communities, Inc. 5.875%, 04/15/23 144A @		250		265,000
William Lyon Homes, Inc.
7.000%, 08/15/22		375		388,125
5.875%, 01/31/25		160		164,000

				1,187,625

Household Products & Wares — 0.1%
American Greetings Corp. 7.875%, 02/15/25 144A @		160		173,200

Housewares — 0.3%
RSI Home Products, Inc. 6.500%, 03/15/23 144A @		450		472,500

Insurance — 1.1%
Alliant Holdings Intermediate LLC 8.250%, 08/01/23 144A @		775		819,400
AssuredPartners, Inc. 7.000%, 08/15/25 144A @		360		368,550
CNO Financial Group, Inc. 5.250%, 05/30/25		350		373,625
Hub Holdings LLC PIK (Cash coupon 8.125%, PIK 8.875%) 8.125%, 07/15/19 144A @		425		426,062

				1,987,637

Internet — 0.9%
Match Group, Inc.


	Par (000)		Value†

Internet — (continued)
6.750%, 12/15/22	$	350	$	361,375
6.375%, 06/01/24		200		217,750
VeriSign, Inc.
5.250%, 04/01/25		30		32,400
4.750%, 07/15/27		260		267,800
Zayo Group LLC
6.375%, 05/15/25		525		565,756
5.750%, 01/15/27 144A @		130		137,800

				1,582,881

Iron & Steel — 1.6%
AK Steel Corp. 6.375%, 10/15/25		345		340,688
ArcelorMittal
6.125%, 06/01/25		25		28,750
7.500%, 10/15/39		200		240,000
Big River Steel LLC 7.250%, 09/01/25 144A @		195		206,895
Joseph T Ryerson & Son, Inc. 11.000%, 05/15/22 144A @		680		761,600
United States Steel Corp. 6.875%, 08/15/25		345		352,762
Vale Overseas Ltd.
5.875%, 06/10/21		341		374,929
6.250%, 08/10/26		350		397,145

				2,702,769

Leisure Time — 0.6%
Carlson Travel, Inc. 6.750%, 12/15/23 144A @		200		198,500
LTF Merger Sub, Inc. 8.500%, 06/15/23 144A @		400		425,000
Sabre GLBL, Inc. 5.375%, 04/15/23 144A @		125		129,537
Silversea Cruise Finance Ltd. 7.250%, 02/01/25 144A @		90		96,300
Vista Outdoor, Inc. 5.875%, 10/01/23		225		231,469

				1,080,806

Lodging — 1.4%
Boyd Gaming Corp. 6.375%, 04/01/26		325		354,656
Caesars Entertainment Operating Co., Inc. 10.000%, 12/15/18		735		757,050
CRC Escrow Issuer LLC 5.250%, 10/15/25 144A @		570		570,000
Seminole Hard Rock Entertainment, Inc. 5.875%, 05/15/21 144A @		300		303,000
Station Casinos LLC 5.000%, 10/01/25 144A @		395		395,948

				2,380,654

Machinery - Diversified — 0.1%
Welbilt, Inc. 9.500%, 02/15/24		100		114,875


	Par (000)		Value†
CORPORATE BONDS — (continued)
Media — 7.8%
AMC Networks, Inc. 4.750%, 08/01/25	$	205	$	207,050
Block Communications, Inc. 6.875%, 02/15/25 144A @		125		135,663
CCO Holdings LLC
5.500%, 05/01/26 144A @		1,230		1,274,587
5.000%, 02/01/28 144A @		850		847,067
Cequel Communications Holdings I LLC 7.750%, 07/15/25 144A @		800		884,000
Clear Channel Worldwide Holdings, Inc. 6.500%, 11/15/22		350		360,500
CSC Holdings LLC
6.625%, 10/15/25 144A @		600		657,000
10.875%, 10/15/25 144A @		1,725		2,132,531
DISH DBS Corp.
5.875%, 07/15/22		160		170,000
7.750%, 07/01/26		675		775,015
iHeartCommunications, Inc. 9.000%, 12/15/19		225		169,875
Nexstar Broadcasting, Inc. 5.625%, 08/01/24 144A @		375		388,125
Sinclair Television Group, Inc. 5.875%, 03/15/26 144A @		150		153,000
Sirius XM Radio, Inc.
6.000%, 07/15/24 144A @		427		459,559
5.000%, 08/01/27 144A @		155		158,100
Townsquare Media, Inc. 6.500%, 04/01/23 144A @		386		391,790
Unitymedia GmbH 6.125%, 01/15/25 144A @		800		853,000
Unitymedia Hessen GmbH & Co. KG 5.000%, 01/15/25 144A @		400		420,500
Univision Communications, Inc. 5.125%, 02/15/25 144A @		300		302,625
UPCB Finance IV Ltd. 5.375%, 01/15/25 144A @		600		624,000
Videotron Ltd. 5.125%, 04/15/27 144A @		235		244,330
VTR Finance BV 6.875%, 01/15/24 144A @		950		1,005,955
Ziggo Bond Finance BV 6.000%, 01/15/27 144A @		825		853,875

				13,468,147

Metal Fabricate/Hardware — 0.3%
Zekelman Industries, Inc. 9.875%, 06/15/23 144A @		525		591,938

Mining — 3.4%
Aleris International, Inc. 9.500%, 04/01/21 144A @		135		143,775
Constellium NV
8.000%, 01/15/23 144A @		500		528,750
6.625%, 03/01/25 144A @		500		511,875
First Quantum Minerals Ltd. 7.250%, 04/01/23 144A @		400		412,000
FMG Resources August 2006 Pty Ltd.


	Par (000)		Value†

Mining — (continued)
4.750%, 05/15/22 144A @	$	220	$	222,750
5.125%, 05/15/24 144A @		315		318,937
Freeport-McMoRan, Inc.
5.400%, 11/14/34		650		620,750
5.450%, 03/15/43		635		593,328
Hudbay Minerals, Inc.
7.250%, 01/15/23 144A @		150		159,750
7.625%, 01/15/25 144A @		645		698,225
New Gold, Inc.
6.250%, 11/15/22 144A @		385		399,919
6.375%, 05/15/25 144A @		205		216,788
Novelis Corp.
6.250%, 08/15/24 144A @		350		364,945
5.875%, 09/30/26 144A @		200		203,000
Nyrstar Netherlands Holdings BV 8.500%, 09/15/19 144A @		265		347,397
Park-Ohio Industries, Inc. 6.625%, 04/15/27		90		96,975

				5,839,164

Miscellaneous Manufacturing — 0.2%
Bombardier, Inc. 8.750%, 12/01/21 144A @		295		316,240
Koppers, Inc. 6.000%, 02/15/25 144A @		85		91,375

				407,615

Office & Business Equipment — 0.1%
CDW LLC 5.000%, 09/01/25		125		131,250

Oil & Gas — 8.1%
Calumet Specialty Products Partners LP 11.500%, 01/15/21 144A @		155		179,606
Carrizo Oil & Gas, Inc. 8.250%, 07/15/25		210		228,112
Cenovus Energy, Inc.
4.250%, 04/15/27 144A @		180		178,467
6.750%, 11/15/39		115		132,387
Chesapeake Energy Corp.
6.125%, 02/15/21		190		191,425
8.000%, 06/15/27 144A @		175		173,250
Covey Park Energy LLC/Covey Park Finance Corp. 7.500%, 05/15/25 144A @		250		259,062
CrownRock LP 7.750%, 02/15/23 144A @		760		811,300
Encana Corp.
8.125%, 09/15/30		80		103,554
7.200%, 11/01/31		60		73,509
7.375%, 11/01/31		70		86,412
Ensco PLC
8.000%, 01/31/24		494		485,355
5.750%, 10/01/44		50		35,875
Felix Energy 7.810%, 08/09/22~		505		499,950
Frontera Energy Corp.^


	Par (000)		Value†
CORPORATE BONDS — (continued)
Oil & Gas — (continued)
10.000%, 11/02/21 PIK (Cash coupon 10.000%, PIK 14.000%)	$	15	$	16,725
10.000%, 11/02/21 PIK (Cash coupon 10.000%, PIK 14.000%) 144A @		495		551,925
10.000%, 11/02/21 PIK (Cash coupon 10.000%, PIK 14.000%)		172		191,780
Hess Corp. 7.875%, 10/01/29		210		254,864
Kosmos Energy Ltd.
7.875%, 08/01/21 144A @		800		828,000
7.875%, 08/01/21 144A @		600		621,000
Laredo Petroleum, Inc. 6.250%, 03/15/23		260		267,800
Matador Resources Co. 6.875%, 04/15/23		766		811,002
MEG Energy Corp.
7.000%, 03/31/24 144A @		430		368,725
6.500%, 01/15/25 144A @		205		200,131
Murphy Oil Corp. 6.875%, 08/15/24		230		245,235
Petrobras Global Finance BV
6.125%, 01/17/22		230		247,250
8.750%, 05/23/26		485		582,606
6.875%, 01/20/40		200		202,500
6.750%, 01/27/41		300		298,500
QEP Resources, Inc.
6.875%, 03/01/21		425		447,312
5.375%, 10/01/22		345		338,962
5.250%, 05/01/23		190		184,775
Range Resources Corp. 4.875%, 05/15/25		185		182,225
Rowan Cos, Inc. 7.375%, 06/15/25		185		180,838
Sable Permian Resources LLC 7.125%, 11/01/20 144A @		295		253,759
Seven Generations Energy Ltd.
6.750%, 05/01/23 144A @		585		616,444
6.875%, 06/30/23 144A @		150		159,000
5.375%, 09/30/25 144A @		370		372,775
Southwestern Energy Co. 7.500%, 04/01/26		510		530,400
Tapstone Energy LLC/Tapstone Energy Finance Corp. 9.750%, 06/01/22 144A @		255		227,588
Transocean, Inc. 6.800%, 03/15/38		335		273,025
Whiting Petroleum Corp.
5.750%, 03/15/21		30		29,475
6.250%, 04/01/23		170		167,238
WPX Energy, Inc. 8.250%, 08/01/23		275		308,344
YPF Sociedad Anonima 8.500%, 07/28/25		520		599,196

				13,997,663

Oil & Gas Services — 0.5%
Archrock Partners LP


	Par (000)		Value†

Oil & Gas Services — (continued)
6.000%, 04/01/21	$	160	$	156,800
6.000%, 10/01/22		300		291,750
Exterran Energy Solutions LP 8.125%, 05/01/25 144A @		420		434,700

				883,250

Packaging and Containers — 2.2%
ARD Finance SA 7.125%, 09/15/23		825		882,997
Ardagh Packaging Finance PLC 7.250%, 05/15/24 144A @		725		795,231
BWAY Holding Co.
5.500%, 04/15/24 144A @		315		329,175
7.250%, 04/15/25 144A @		330		339,900
Crown Cork & Seal Co., Inc. 7.375%, 12/15/26		100		117,500
Horizon Parent Holdings SARL 8.250%, 02/15/22 144A @		295		371,757
Pactiv LLC 7.950%, 12/15/25		175		197,312
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu
5.750%, 10/15/20		225		228,949
7.000%, 07/15/24 144A @		275		292,875
SIG Combibloc Holdings S.C.A. 7.750%, 02/15/23 144A @		225		281,217

				3,836,913

Pharmaceuticals — 0.9%
Endo Finance LLC144A @
7.250%, 01/15/22		265		247,775
6.000%, 02/01/25		325		263,250
Texas Competitive Electric Holdings 0.000%, 06/23/18		155		155,066
Valeant Pharmaceuticals International, Inc.
6.375%, 10/15/20 144A @		370		370,925
6.500%, 03/15/22 144A @		410		433,575

				1,470,591

Pipelines — 3.6%
Andeavor Logistics LP 5.250%, 01/15/25		225		241,031
Andeavor Logistics LP 6.125%, 10/15/21		100		103,125
Boardwalk Pipelines LP 5.950%, 06/01/26		130		145,421
Cheniere Corpus Christi Holdings LLC
7.000%, 06/30/24		500		570,000
5.875%, 03/31/25		225		242,156
5.125%, 06/30/27 144A @		285		293,550
Crestwood Midstream Partners LP 6.250%, 04/01/23		500		515,625
DCP Midstream Operating, LP
9.750%, 03/15/19 144A @		125		136,563
8.125%, 08/16/30		75		87,938
6.450%, 11/03/36 144A @		150		157,500
(3 M ICE LIBOR + 3.850%) 5.850%, 05/21/43 144A @,•		550		512,875


	Par (000)		Value†
CORPORATE BONDS — (continued)
Pipelines — (continued)
Energy Transfer Equity LP
5.875%, 01/15/24	$	202	$	216,897
5.500%, 06/01/27		280		294,700
NGPL PipeCo LLC 4.375%, 08/15/22 144A @		170		176,375
NuStar Logistics LP
4.800%, 09/01/20		50		51,875
5.625%, 04/28/27		305		321,775
Rockies Express Pipeline LLC 6.000%, 01/15/19 144A @		100		103,500
SemGroup Corp. 6.375%, 03/15/25 144A @		285		279,300
Tallgrass Energy Partners LP 5.500%, 09/15/24 144A @		595		611,362
Targa Resources Partners LP
5.250%, 05/01/23		50		51,000
4.250%, 11/15/23		50		49,563
6.750%, 03/15/24		400		434,000
5.125%, 02/01/25		625		643,750

				6,239,881

Real Estate — 1.4%
Greystar Real Estate Partners LLC 8.250%, 12/01/22 144A @		300		320,250
Iron Mountain Canada Operations 5.375%, 09/15/23 144A @		55		46,394
iStar, Inc. 4.625%, 09/15/20		85		86,913
MGM Growth Properties Operating Partnership LP 5.625%, 05/01/24		175		189,626
MPT Operating Partnership LP 5.000%, 10/15/27		430		440,750
MPT Operating Partnership LP 6.375%, 03/01/24		250		269,687
The Howard Hughes Corp. 5.375%, 03/15/25 144A @		710		724,200
VEREIT Operating Partnership LP 4.875%, 06/01/26		330		353,318

				2,431,138

Retail — 2.1%
Ferrellgas Partners LP
6.500%, 05/01/21		310		300,700
6.750%, 01/15/22		210		203,700
6.750%, 06/15/23		100		96,500
Group 1 Automotive, Inc.
5.250%, 06/01/22		175		181,344
5.250%, 12/15/23 144A @		175		177,187
Jo-Ann Stores Holdings, Inc. PIK (Cash coupon 9.750%, PIK 10.500%) 9.750%, 10/15/19 144A @		425		413,312
KFC Holding Co./Pizza Hut Holdings/Taco Bell of America LLC
5.000%, 06/01/24 144A @		125		131,719
5.250%, 06/01/26 144A @		250		264,687
Kirk Beauty One GmbH 8.750%, 07/15/23 144A @		225		289,527


	Par (000)		Value†

Retail — (continued)
New Albertson’s, Inc.
7.450%, 08/01/29	$	175	$	135,625
8.000%, 05/01/31		125		100,000
New Look Secured Issuer PLC 6.500%, 07/01/22 144A @		190		171,855
New Red Finance, Inc. 5.000%, 10/15/25 144A @		250		253,100
PF Chang’s China Bistro, Inc. 10.250%, 06/30/20 144A @		175		171,063
Sonic Automotive, Inc. 5.000%, 05/15/23		200		195,500
Suburban Propane Partners LP 5.500%, 06/01/24		105		105,525
Yum! Brands, Inc.
6.875%, 11/15/37		115		126,356
5.350%, 11/01/43		320		300,800

				3,618,500

Semiconductors — 1.0%
Advanced Micro Devices, Inc. 7.000%, 07/01/24		565		597,488
Micron Technology, Inc. 5.250%, 08/01/23 144A @		250		260,750
Microsemi Corp. 9.125%, 04/15/23 144A @		375		428,906
Sensata Technologies UK Financing Co. PLC 6.250%, 02/15/26 144A @		425		465,375

				1,752,519

Software — 1.8%
MSCI, Inc.
5.250%, 11/15/24 144A @		250		266,250
4.750%, 08/01/26 144A @		215		226,287
Rackspace Hosting, Inc. 8.625%, 11/15/24 144A @		150		160,065
RP Crown Parent LLC 7.375%, 10/15/24 144A @		150		153,563
Solera LLC 10.500%, 03/01/24 144A @		595		677,378
SS&C Technologies Holdings, Inc. 5.875%, 07/15/23		200		211,085
Veritas US, Inc.
7.500%, 02/01/23 144A @		600		639,000
10.500%, 02/01/24 144A @		800		857,000

				3,190,628

Telecommunications — 9.0%
Altice Financing S.A.
6.625%, 02/15/23 144A @		350		371,000
7.500%, 05/15/26 144A @		925		1,017,500
Altice Finco S.A. 8.125%, 01/15/24 144A @		600		648,000
Altice Luxembourg S.A. 7.625%, 02/15/25 144A @		2,050		2,211,437
C&W Senior Financing Designated Activity Co. 6.875%, 09/15/27 144A @		565		587,600


	Par (000)		Value†
CORPORATE BONDS — (continued)
Telecommunications — (continued)
CenturyLink, Inc. 7.500%, 04/01/24	$	320	$	331,267
Digicel Group Ltd. 8.250%, 09/30/20 144A @		725		708,238
Equinix, Inc.
5.375%, 01/01/22		275		288,338
5.750%, 01/01/25		150		161,438
5.375%, 05/15/27		250		271,563
First Data Corp. 5.375%, 08/15/23 144A @		425		444,550
Hughes Satellite Systems Corp.
7.625%, 06/15/21		325		369,044
6.625%, 08/01/26		420		449,400
Intelsat Jackson Holdings S.A.
7.250%, 10/15/20		640		616,000
9.500%, 09/30/22 144A @		815		963,737
8.000%, 02/15/24 144A @		190		204,250
Level 3 Financing, Inc.
5.625%, 02/01/23		150		154,678
5.375%, 05/01/25		175		179,922
5.250%, 03/15/26		125		128,086
Millicom International Cellular SA 5.125%, 01/15/28 144A @		200		201,700
Sprint Capital Corp.
6.875%, 11/15/28		235		263,200
8.750%, 03/15/32		430		549,862
Sprint Communications, Inc.
7.000%, 08/15/20		525		573,625
11.500%, 11/15/21		425		540,200
Sprint Corp. 7.250%, 09/15/21		525		583,406
T-Mobile US, Inc.
4.000%, 04/15/22		455		471,162
6.375%, 03/01/25		175		188,423
TBG Global Pte Ltd. 5.250%, 02/10/22		200		205,919
Telesat Canada/Telesat LLC 8.875%, 11/15/24 144A @		385		433,606
ViaSat, Inc. 5.625%, 09/15/25 144A @		380		382,394
Virgin Media Secured Finance PLC
5.250%, 01/15/26 144A @		200		208,250
5.500%, 08/15/26 144A @		600		632,250
6.250%, 03/28/29		175		253,553

				15,593,598

Transportation — 1.1%
DAE Funding LLC144A @
4.000%, 08/01/20		175		178,500
4.500%, 08/01/22		200		204,975
5.000%, 08/01/24		210		215,250
Park Aerospace Holdings Ltd.
5.250%, 08/15/22 144A @		280		291,200
4.500%, 03/15/23 144A @		595		594,173
5.500%, 02/15/24 144A @		145		152,250


	Par (000)		Value†

Transportation — (continued)
Watco Cos. LLC 6.375%, 04/01/23 144A @	$	250	$	259,375

				1,895,723

TOTAL CORPORATE BONDS (Cost $130,426,650)				135,587,782

LOAN AGREEMENTS — 12.8%‡
Aerospace & Defense — 0.1%
Standardaero Aviation (3 M LIBOR) 5.060%, 07/07/22 •		230		231,583

Chemicals — 0.5%
Macdermid, Inc. (3 M LIBOR + 3.500%) 4.735%, 06/07/20 •		217		217,252
Solenis International LP (3 M LIBOR + 6.750%) 8.067%, 07/31/22 •		675		670,498

				887,750

Commercial Services — 1.1%
Brickman Group Ltd. (3 M LIBOR + 3.000%) 4.235%, 12/18/20 •		316		317,223
Diversey (3 M LIBOR + 3.000%) 4.310%, 09/06/24 •		345		343,768
Hercules Bankruptcy Claim (3 M LIBOR) 10.500%, 05/06/20 ^,•,~		224		167,698
Internet Brands•
(3 M LIBOR + 3.500%) 4.820%, 08/16/24		230		228,466
(3 M LIBOR + 7.500%) 8.820%, 08/16/25		200		198,166
Laureate Education, Inc. (3 M LIBOR + 4.500%) 5.735%, 04/26/24 •		259		259,616
Sedgwick Claims Management Services, Inc. (3 M LIBOR + 5.750%) 6.985%, 02/28/22 •		375		377,812

				1,892,749

Diversified Financial Services — 0.3%
Fortress Investment Group (3 M LIBOR) 2.750%, 06/12/22 •		210		211,951
NFP Corp.
(3 M LIBOR) 4.735%, 01/08/24 •		273		274,504
(3 M LIBOR + 3.500%) 4.735%, 01/08/24 •		55		55,344

				541,799

Electric — 0.8%
Energy Future Intermediate Holdings Co. LLC (3 M LIBOR + 3.000%) 4.235%, 06/30/18 •		1,025		1,029,869


	Par (000)		Value†
LOAN AGREEMENTS‡ — (continued)
Electric — (continued)
Vistra Operations Co. LLC (3 M LIBOR + 2.750%) 3.984%, 12/14/23 •	$	99	$	99,567
Vistra Operations Co. LLC, Class B (3 M LIBOR + 2.750%) 3.984%, 08/04/23 •		222		222,551
Vistra Operations Co. LLC, Class C (3 M LIBOR) 3.982%, 08/04/23 •		51		51,141

				1,403,128

Energy-Alternate Sources — 0.2%
Alliant Holdings I LLC (3 M LIBOR + 3.250%) 4.564%, 08/12/22 •		269		270,360
Terra-Gen Finance Co., LLC (3 M LIBOR + 4.250%) 5.490%, 12/09/21 ^,•		70		63,316

				333,676

Entertainment — 0.5%
Delta 2 (Lux) S.a.r.l. (3 M LIBOR + 3.000%) 4.235%, 02/01/24 •		675		678,881
William Morris Endeavor Entertainment LLC (3 M LIBOR + 7.250%) 8.490%, 05/06/22 •		200		202,000

				880,881

Healthcare Services — 0.3%
Envision Healthcare Corp. (3 M LIBOR + 3.000%) 4.240%, 12/01/23 •		471		472,386

Holding Companies — 0.2%
Peak 10 Holding Corp. (3 M LIBOR + 3.500%) 4.811%, 07/24/24 •		345		345,000

Insurance — 1.7%
Acrisure LLC (3 M LIBOR + 5.000%) 6.272%, 11/22/23 •		159		160,924
Asurion LLC•
(3 M LIBOR + 3.000%) 3.989%, 08/04/22		70		70,175
(3 M LIBOR) 3.989%, 08/04/22		619		620,275
(3 M LIBOR + 2.750%) 4.234%, 11/03/23		383		384,953
(3 M LIBOR) 4.234%, 11/03/23		250		251,312
(3 M LIBOR + 6.000%) 7.239%, 07/13/25		1,355		1,384,647
(3 M LIBOR) 7.239%, 08/04/25		140		143,063

				3,015,349


	Par (000)		Value†

Internet — 1.2%
Ancestry.com Operations, Inc. (3 M LIBOR + 3.250%) 4.490%, 10/19/23 •	$	446	$	448,008
Hoya Midco LLC (3 M LIBOR + 4.000%) 5.235%, 06/30/24 •		259		258,702
Tierpoint, LLC (3 M LIBOR + 3.750%) 4.985%, 05/06/24 •		145		145,300
Uber Technologies, Inc. (3 M LIBOR + 4.000%) 5.237%, 07/13/23 •		1,238		1,242,920

				2,094,930

Iron & Steel — 0.1%
Big River Steel LLC (3 M LIBOR + 5.000%) 6.333%, 08/23/23 •		140		141,400

Machinery—Diversified — 0.2%
Garder Denver, Inc. (3 M LIBOR + 2.750%) 4.083%, 07/30/24 •		341		341,467

Media — 0.5%
EIG Investors Corp. (3 M LIBOR + 4.000%) 5.318%, 02/09/23 •		507		511,574
iHeartCommunications, Inc. (3 M LIBOR) 8.083%, 01/30/19 •		525		404,523

				916,097

Metal Fabricate/Hardware — 0.2%
Zekelman Industries, Inc. (3 M LIBOR + 2.750%) 4.073%, 06/14/21 •		321		322,278

Miscellaneous Manufacturing — 0.4%
Bway Corp. (3 M LIBOR + 3.250%) 4.481%, 04/03/24 •		170		169,969
Filtration Group, Inc. (3 M LIBOR + 3.000%) 4.235%, 11/23/20 •		492		493,966

				663,935

Oil & Gas — 0.4%
Eagleclaw Midstream Ventures LLC•
(3 M LIBOR + 4.250%) 5.250%, 06/08/24		180		181,181
(3 M LIBOR) 5.522%, 06/24/24		429		431,386
Fairmount Santrol, Inc. (3 M LIBOR) 4.500%, 09/05/19 •		0		0

				612,567


	Par (000)		Value†
LOAN AGREEMENTS‡ — (continued)
Oil & Gas Services — 0.0%
CGG Holding (U.S.), Inc. (3 M LIBOR) 6.500%, 05/15/19 •	$	0	$	0

Packaging and Containers — 0.1%
Flex Acquisition Co., Inc. (3 M LIBOR + 3.000%) 4.299%, 12/29/23 •		100		99,968
Tricorbraun, Inc. (3 M LIBOR + 3.750%) 5.083%, 11/30/23 •		113		113,301

				213,269

Retail — 0.8%
Academy Ltd. (3 M LIBOR + 4.000%) 5.274%, 07/01/22 •		782		526,558
Jo-Ann Stores, Inc.•
(3 M LIBOR) 6.190%, 10/20/23		93		89,163
(3 M LIBOR + 5.000%) 6.391%, 10/20/23		507		483,766
Serta Simmons•
(3 M LIBOR + 3.500%) 4.802%, 11/08/23		177		171,618
(3 M LIBOR + 3.000%) 9.312%, 11/08/24		132		126,894

				1,397,999

Software — 2.5%
Change Healthcare Holdings (3 M LIBOR + 2.750%) 3.985%, 03/01/24 •		234		234,351
Kraind Corp. (3 M LIBOR) 5.083%, 11/30/23 •		11		11,416
Kronos, Inc.•
(3 M LIBOR) 4.811%, 11/01/23		260		261,370
(3 M LIBOR + 3.500%) 4.811%, 11/01/23		421		423,386
(3 M LIBOR + 3.250%) 9.561%, 11/01/24		130		134,016
Mcafee LLC•
(3 M LIBOR) 5.830%, 09/26/24		130		130,585
(3 M LIBOR) 9.830%, 09/26/25		160		160,000
Micro Focus (3 M LIBOR) 3.987%, 06/21/24 •		515		515,644
Misys Ltd. (3 M LIBOR + 7.250%) 8.567%, 06/13/25 •		345		350,544
Rackspace Hosting, Inc. (3 M LIBOR + 3.000%) 4.311%, 11/03/23 •		348		347,294
SolarWinds Holdings, Inc. (3 M LIBOR + 3.500%) 4.735%, 02/03/23 •		370		371,252
Veritas US, Inc.•
(3 M LIBOR + 4.500%) 4.500%, 01/27/23		963		971,260


	Par (000)		Value†

Software — (continued)
(3 M LIBOR) 5.833%, 01/27/23	$	344	$	347,388

				4,258,506

Telecommunications — 0.2%
Cyxtera Technologies, Inc. (3 M LIBOR) 4.310%, 05/01/24 •		110		110,090
Digicel International Finance (3 M LIBOR + 3.750%) 5.070%, 05/27/24 •		270		270,675

				380,765

Transportation — 0.5%
Navistar, Inc. (3 M LIBOR + 4.000%) 5.240%, 08/07/20 •		288		288,895
Truck Hero, Inc.•
(3 M LIBOR + 4.000%) 5.326%, 04/22/24		375		374,374
(3 M LIBOR) 9.576%, 04/21/25 ^		170		170,850

				834,119

TOTAL LOAN AGREEMENTS‡ (Cost $22,201,701)				22,181,633

	Number of Shares		Value†
SHORT-TERM INVESTMENTS — 6.4%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares		656,427		656,427
T. Rowe Price Investment, Ltd.		10,535,499		10,535,499

TOTAL SHORT-TERM INVESTMENTS (Cost $11,191,926)				11,191,926

TOTAL INVESTMENTS — 99.6% (Cost $166,658,472)			$	172,538,148

Other Assets & Liabilities — 0.4%				615,397

TOTAL NET ASSETS — 100.0%			$	173,153,545

(1)	The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Valuation Hierachy table located at the end of the Schedule of Investments.

†	See Security Valuation Note.

‡

Loan Agreements in which the Fund invests generally pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the Prime Rate offered by one or more major U.S. banks, (ii) the lending rate offered by one or more European banks such as the London Inter-Bank Offered Rate (“LIBOR”) or (iii) the Certificate of Deposit rate. Rate shown represents the actual rate at September 30, 2017. Loan Agreements, while exempt from registration under the Security Act of 1933, as amended (the “1933 Act”), contain certain restrictions on resale and cannot be sold publicly. Floating rate Loan Agreements often require repayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturity shown.

*	Non-income producing security.

144A

^	Illiquid security. The total market value of illiquid securities at September 30, 2017 is $1,860,790.

•	Variable Rate Security. The rate shown is the rate in effect on September 30, 2017, and the date shown is the final maturity date, not the next reset or put date. The rate floats based upon the published reference rate and spread disclosed in the Schedule of Investments.

~	Fair valued security. The total market value of fair valued securities at September 30, 2017 is $817,730.

CONV — Convertible Security.

CVR — Contingent Valued Rights.

LLC — Limited Liability Company.

LP — Limited Partnership.

PIK — Payment in Kind Security.

PLC — Public Limited Company.

STEP — Step Coupon Bond.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input			Level 3 Signi- ficant Unobser- vable Input
ASSET BACKED SECURITIES	$	97,923		$	—	$	97,923		$	—
COMMON STOCKS
Entertainment		4,965			—		—			4,965
Media		549,764			549,764		—			—
Oil & Gas		466,965			316,883		150,082			—
Real Estate		197,533			197,533		—			—
Telecommunications		579,604			579,604		—			—
PREFERRED STOCKS		1,680,053			1,680,053		—			—
CORPORATE BONDS		135,587,782			—		135,587,782			—
LOAN AGREEMENTS		22,181,633			—		22,181,633			—
SHORT-TERM INVESTMENTS		11,191,926			11,191,926		—			—

TOTAL INVESTMENTS	$	172,538,148		$	14,515,763	$	158,017,420		$	4,965

OTHER FININCIAL INSTRUMENTS(1)
Forward Foreign Currency Contracts	$	38,826		$	—	$	38,826		$	—

TOTAL ASSETS - OTHER FINANCIAL INSTRUMENTS	$	38,826		$	—	$	38,826		$	—


LIABILITIES TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input			Level 3 Signi- ficant Unobser- vable Input
OTHER FINANCIAL INSTRUMENTS(1)
Forward Foreign Currency Contracts	$	(62,849	)	$	—	$	(62,849	)	$	—

TOTAL LIABILITIES - OTHER FINANCIAL INSTRUMENTS	$	(62,849	)	$	—	$	(62,849	)	$	—

(1)	Other financial instruments are derivative instruments not reflected in the value of total investments in securities in the Schedule of Investments such as forward foreign currency contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

Following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:


	Investments in Securities (Market Value)
Balance as of 12/31/2016	$	26,352
Change in Appreciation/(Depreciation)		(21,387	)

Balance as of 9/30/2017	$	4,965

Open forward foreign currency contracts held by High Yield Bond Fund at September 30, 2017 were as follows:


	Currency	Counterparty	Settl- ement Date		For- eign Curr- ency Cont- ract			Forward Rate		U.S. Cont- ract Amount			U.S. Cont- ract Value			Unre- alized Foreign Exch- ange Gain		Unre- alized Foreign Exch- ange Loss
Sell	Canadian Dollar	Merrill Lynch		01/26/2018	$	(483,000	)		1.24692	$	(393,633	)	$	(387,355	)	$	6,278	$	—
Buy	Canadian Dollar	JP Morgan Chase		01/26/2018		21,016			1.24692		16,867			16,855			—		(12	)
Buy	Canadian Dollar	HSBC Securities		01/26/2018		39,693			1.24692		32,138			31,833			—		(305	)
Buy	Euro	Merrill Lynch		11/17/2017		295,791			0.84386		352,265			350,521			—		(1,744	)
Buy	Euro	JP Morgan Chase		11/17/2017		153,874			0.84386		182,675			182,345			—		(330	)
Buy	Euro	HSBC Securities		11/17/2017		221,432			0.84386		264,544			262,404			—		(2,140	)
Sell	Euro	HSBC Securities		11/17/2017		(2,178,000	)		0.84386		(2,570,651	)		(2,580,996	)		—		(10,345	)
Sell	Pound Sterling	Merrill Lynch		10/20/2017		(1,393,000	)		0.74574		(1,824,990	)		(1,867,931	)		—		(42,941	)
Buy	Pound Sterling	HSBC Securities		10/20/2017		241,250			0.74575		309,498			323,502			14,004		—
Buy	Pound Sterling	Citibank		10/20/2017		430,882			0.74574		559,773			577,788			18,015		—
Sell	Swiss Francs	Merrill Lynch		11/17/2017		(188,000	)		0.96525		(195,298	)		(194,769	)		529		—
Buy	Swiss Francs	State Street		11/17/2017		188,000			0.96525		199,801			194,769			—		(5,032	)

	Total															$	38,826	$	(62,849	)

The accompanying notes are an integral part of the financial statements.


	Par (000)		Value†
ASSET BACKED SECURITIES — 0.2%
Continental Airlines 2009-2 Class A, Pass Through Trust 7.250%, 05/10/21	$	534	$	586,410
Continental Airlines 2012-1 Class A, Pass Through Trust 4.150%, 10/11/25		1,775		1,860,038
DB Master Finance LLC 2015-1A A21 3.262%, 02/20/45 144A @		1,428		1,430,618
Taco Bell Funding LLC 2016-1A A21 3.832%, 05/25/46 144A @		3,569		3,638,544
Wendys Funding LLC 2015-1A A21 3.371%, 06/15/45 144A @		2,274		2,293,994
TOTAL ASSET BACKED SECURITIES (Cost $9,586,040)				9,809,604


	Number of Shares		Value†
COMMON STOCKS — 61.5%
Agriculture — 2.2%
British American Tobacco PLC		317,097		19,851,735
Philip Morris International, Inc.		590,883		65,593,922

				85,445,657

Auto Parts & Equipment — 1.3%
Adient PLC		309,582		26,001,792
Magna International, Inc., Class A		458,844		24,493,093

				50,494,885

Banks — 4.6%
State Street Corp.		313,866		29,986,758
The Bank of New York Mellon Corp.		1,597,091		84,677,765
The PNC Financial Services Group, Inc.		308,798		41,616,706
Wells Fargo & Co.		356,400		19,655,460

				175,936,689

Beverages — 1.8%
Dr. Pepper Snapple Group, Inc.		609,423		53,915,653
PepsiCo, Inc.		130,929		14,589,418

				68,505,071

Biotechnology — 0.9%
Biogen, Inc.*		111,544		34,926,657
Bioverativ, Inc.*		6,455		368,387

				35,295,044

Building Materials — 1.3%
Johnson Controls International PLC		1,202,676		48,455,816

Commercial Services — 3.4%
Aramark		1,426,370		57,924,886
Equifax, Inc.		207,300		21,971,727
Mastercard, Inc., Class A		232,671		32,853,145
RELX PLC		812,804		17,829,474

				130,579,232

Computers — 0.6%
Apple, Inc.		145,800		22,470,696


	Number of Shares		Value†

Cosmetics & Personal Care — 0.6%
Essity AB, Class B*		779,291	$	21,202,333

Diversified Financial Services — 2.6%
Visa, Inc., Class A		944,600		99,409,704

Electric — 2.1%
DTE Energy Co.		85,700		9,200,752
PG&E Corp.		1,016,057		69,183,321

				78,384,073

Electronics — 3.4%
Fortive Corp.		345,095		24,429,275
PerkinElmer, Inc.		1,037,915		71,584,998
Thermo Fisher Scientific, Inc.		184,130		34,837,396

				130,851,669

Environmental Control — 0.4%
Waste Connections, Inc.		192,172		13,444,353

Food — 1.1%
Mondelez International, Inc., Class A		587,703		23,896,004
The Kraft Heinz Co.		128,919		9,997,668
Tyson Foods, Inc., Class A		97,564		6,873,384

				40,767,056

Healthcare Products — 2.0%
Becton Dickinson & Co.,		398,414		78,069,223

Healthcare Services — 4.4%
Aetna, Inc.		218,134		34,685,487
Anthem, Inc.		97,400		18,494,312
Cigna Corp.		105,460		19,714,693
Humana, Inc.		157,808		38,446,763
UnitedHealth Group, Inc.		288,800		56,561,480

				167,902,735

Insurance — 2.9%
Marsh & McLennan Cos., Inc.		1,281,100		107,368,991
Willis Towers Watson PLC		25,979		4,006,741

				111,375,732

Internet — 4.3%
Alphabet, Inc., Class A*		8,700		8,471,364
Alphabet, Inc., Class C*		84,059		80,621,828
Amazon.com, Inc.*		63,239		60,794,813
Symantec Corp.		487,845		16,006,194

				165,894,199

Machinery - Diversified — 0.8%
Roper Technologies, Inc.		112,474		27,376,172
The Middleby Corp.*		28,135		3,606,063

				30,982,235

Media — 1.1%
Comcast Corp., Class A		761,703		29,310,332
Liberty Global PLC, Class C*		444,932		14,549,276

				43,859,608

Miscellaneous Manufacturing — 3.0%
Danaher Corp.		942,627		80,858,544


	Number of Shares		Value†
COMMON STOCKS — (continued)
Miscellaneous Manufacturing — (continued)
General Electric Co.		941,000	$	22,753,380
Pentair PLC		142,614		9,692,048

				113,303,972

Oil & Gas — 1.3%
Canadian Natural Resources Ltd.		976,300		32,696,287
TOTAL S.A.		335,410		18,015,255

				50,711,542

Packaging and Containers — 0.6%
Ball Corp.		572,908		23,661,100

Pharmaceuticals — 3.7%
Abbott Laboratories		1,462,240		78,025,126
GlaxoSmithKline PLC		291,267		5,809,572
Perrigo Co. PLC		293,090		24,810,069
Zoetis, Inc.		517,767		33,012,824

				141,657,591

Retail — 4.4%
AutoZone, Inc.*		42,669		25,392,748
CVS Health Corp.		168,700		13,718,684
Lowe’s Cos., Inc.		154,053		12,314,997
O’Reilly Automotive, Inc.*		240,530		51,802,946
The Home Depot, Inc.		115,021		18,812,835
Yum! Brands, Inc.		649,493		47,809,180

				169,851,390

Software — 6.7%
Fidelity National Information Services, Inc.		575,056		53,704,480
Fiserv, Inc.*		799,809		103,143,369
Intuit, Inc.		132,996		18,904,051
Microsoft Corp.		1,059,900		78,951,951

				254,703,851

TOTAL COMMON STOCKS (Cost $1,906,941,822)				2,353,215,456


	Par (000)		Value†
REAL ESTATE INVESTMENT TRUSTS — 1.6%
Diversified — 1.6%
American Tower Corp.		144,478		19,747,253
SBA Communications Corp.*		185,811		26,766,075
SBA Communications Corp.		15,175,000		15,611,281
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $58,090,605)				62,124,609


	Number of Shares		Value†
PREFERRED STOCKS — 3.4%
Banks — 0.3%
State Street Corp.		50,923		1,358,116
U.S. Bancorp, Series F•		71,000		2,069,650
Wells Fargo & Co.		6,301		8,285,815

				11,713,581


	Number of Shares		Value†

Diversified — 0.9%
American Tower Corp.		172,318	$	21,036,582
Crown Castle International Corp.*		13,269		14,171,292

				35,207,874

Diversified Financial Services — 0.1%
The Charles Schwab Corp.		150,000		4,071,000
The Charles Schwab Corp.		12,000		325,680

				4,396,680

Electric — 1.1%
Alabama Power Co.		100,000		2,579,000
DTE Energy Co.		267,708		14,576,701
NextEra Energy, Inc.		107,486		5,941,826
SCE Trust II		14,730		370,018
SCE Trust III•		161,355		4,451,784
SCE Trust IV•		340,000		9,237,800
SCE Trust V•		100,000		2,790,000
SCE Trust VI		75,000		1,903,500

				41,850,629

Healthcare Products — 1.0%
Becton Dickinson and Co., CONV		658,993		36,415,953

TOTAL PREFERRED STOCKS (Cost $117,011,035)				129,584,717


	Par (000)		Value†
CORPORATE BONDS — 19.2%
Advertising — 0.0%
Lamar Media Corp. 5.875%, 02/01/22		1,450		1,493,500

Aerospace & Defense — 0.0%
Harris Corp. 1.999%, 04/27/18		1,080		1,081,886
Moog, Inc. 5.250%, 12/01/22 144A @		650		677,625

				1,759,511

Agriculture — 0.3%
Philip Morris International, Inc. (3 M ICE LIBOR + 0.420%)
1.736%, 02/21/20 •		2,285		2,294,372
2.000%, 02/21/20		3,420		3,424,099
2.625%, 02/18/22		4,270		4,306,092

				10,024,563

Airlines — 0.1%
Continental Airlines 2012-1 Class B Pass Through Trust 6.250%, 10/11/21		276		291,690
Delta Air Lines 2009-1, Class A, Pass Through Trust 7.750%, 06/17/21		304		334,100
Delta Air Lines 2011-1, Class A , Pass Through Trust 5.300%, 10/15/20		345		358,537


	Par (000)		Value†
CORPORATE BONDS — (continued)
Airlines — (continued)
U.S. Airways 2010-1 Class A, Pass Through Trust 6.250%, 10/22/24	$	1,513	$	1,698,606
U.S. Airways 2012-2 Class A, Pass Through Trust 4.625%, 12/03/26		218		233,085
U.S. Airways 2012-2 Class B, Pass Through Trust 6.750%, 12/03/22 ^		435		480,326
U.S. Airways 2013-1 Class A, Pass Through Trust 3.950%, 05/15/27		4		4,181
U.S. Airways 2013-1 Class B, Pass Through Trust 5.375%, 05/15/23		4		4,463

				3,404,988

Auto Manufacturers — 0.3%
Tesla, Inc. 5.300%, 08/15/25 144A @		11,435		11,149,125

Banks — 0.6%
The PNC Financial Services Group, Inc. (3 M ICE LIBOR + 3.300%) 5.000%, 12/29/49 •		7,085		7,421,537
Regions Bank 7.500%, 05/15/18		75		77,593
State Street Corp. (3 M ICE LIBOR + 3.600%) 5.250%, 12/29/49 •		4,360		4,588,900
The Bank of New York Mellon Corp.•
(3 M ICE LIBOR + 3.130%) 4.625%, 12/29/49		3,175		3,239,135
(3 M ICE LIBOR + 3.420%) 4.950%, 12/29/49		5,800		6,021,125
U.S. Bancorp (3 M ICE LIBOR + 2.910%) 5.300%, 04/15/49 •		3,010		3,280,900

				24,629,190

Beverages — 0.3%
Anheuser-Busch InBev Finance, Inc.
1.900%, 02/01/19		2,995		3,002,736
(3 M ICE LIBOR + 1.260%) 2.571%, 02/01/21 •		3,820		3,948,195
2.650%, 02/01/21		1,690		1,717,447
3.300%, 02/01/23		2,175		2,254,984
PepsiCo, Inc. 1.250%, 04/30/18		1,635		1,633,687

				12,557,049

Building Materials — 0.0%
Lennox International, Inc. 3.000%, 11/15/23		760		761,201

Chemicals — 0.2%
Cytec Industries, Inc. 3.950%, 05/01/25		3,680		3,779,709


	Par (000)		Value†

Chemicals — (continued)
Ecolab, Inc. 2.000%, 01/14/19	$	2,330	$	2,339,410

				6,119,119

Commercial Services — 0.8%
Aramark Services, Inc. 5.000%, 04/01/25 144A @		10,960		11,658,700
IHS Markit Ltd. 5.000%, 11/01/22 144A @		4,300		4,633,250
Iron Mountain, Inc.
6.000%, 08/15/23		1,100		1,164,625
5.750%, 08/15/24		6,335		6,532,969
Service Corp. International 5.375%, 05/15/24		4,875		5,179,687

				29,169,231

Computers — 0.3%
Apple, Inc. 1.500%, 09/12/19		10,920		10,899,488

Diversified Financial Services — 1.0%
Caterpillar Financial Services Corp.
1.250%, 11/06/17		1,645		1,644,753
2.250%, 12/01/19		1,155		1,163,347
Ford Motor Credit Co. LLC
1.724%, 12/06/17		2,150		2,150,150
(3 M ICE LIBOR + 0.570%) 1.886%, 12/06/17 •		6,325		6,328,536
2.145%, 01/09/18		3,360		3,364,200
5.000%, 05/15/18		1,800		1,835,800
2.375%, 03/12/19		4,275		4,296,200
2.597%, 11/04/19		5,350		5,393,160
Visa, Inc. 1.200%, 12/14/17		11,030		11,033,802

				37,209,948

Electric — 0.9%
Berkshire Hathaway Energy Co. 2.400%, 02/01/20		2,550		2,573,602
CMS Energy Corp. 8.750%, 06/15/19		415		460,452
Dominion Energy, Inc., STEP 2.962%, 07/01/19		350		355,030
DTE Energy Co. 3.800%, 03/15/27		8,575		8,825,465
Edison International 2.125%, 04/15/20		4,300		4,299,996
Fortive Corp. 1.800%, 06/15/19		345		344,682
NSTAR Electric Co. 3.200%, 05/15/27		1,715		1,726,017
Pacific Gas & Electric Co. 3.300%, 03/15/27		4,300		4,374,797
The Southern Co.
1.550%, 07/01/18		3,795		3,791,577
1.850%, 07/01/19		1,770		1,769,097
Virginia Electric & Power Co.
3.150%, 01/15/26		1,525		1,538,500


	Par (000)		Value†
CORPORATE BONDS — (continued)
Electric — (continued)
3.500%, 03/15/27	$	3,010	$	3,121,451

				33,180,666

Electronics — 0.1%
Amphenol Corp.
2.200%, 04/01/20		2,585		2,588,598
3.200%, 04/01/24		1,290		1,307,956

				3,896,554

Engineering & Construction — 0.3%
SBA Communications Corp. 4.875%, 07/15/22		11,060		11,419,450

Entertainment — 0.1%
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp. 5.375%, 06/01/24		3,080		3,237,850
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op 5.375%, 04/15/27 144A @		1,335		1,401,750

				4,639,600

Food — 0.1%
B&G Foods, Inc. 4.625%, 06/01/21		2,525		2,572,344
The Kroger Co. 2.000%, 01/15/19		1,330		1,332,317
TreeHouse Foods, Inc. 6.000%, 02/15/24 144A @		600		641,250

				4,545,911

Gas — 0.4%
NiSource Finance Corp.
3.490%, 05/15/27		6,525		6,604,587
4.375%, 05/15/47		4,495		4,716,218
Southern California Gas Co. 3.200%, 06/15/25		3,625		3,678,104

				14,998,909

Healthcare Products — 1.0%
Becton Dickinson and Co.
2.675%, 12/15/19		1,895		1,917,752
(3 M ICE LIBOR + 1.030%) 2.346%, 06/06/22 •		3,685		3,705,000
3.363%, 06/06/24		3,805		3,840,499
Hologic, Inc. 5.250%, 07/15/22 144A @		10,861		11,404,050
Medtronic Global Holdings SCA
1.700%, 03/28/19		4,300		4,297,717
3.350%, 04/01/27		2,465		2,533,727
Medtronic, Inc.
1.500%, 03/15/18		4,025		4,025,083
2.500%, 03/15/20		2,845		2,886,832
Teleflex, Inc. 4.875%, 06/01/26		900		933,750


	Par (000)		Value†

Healthcare Products — (continued)
Thermo Fisher Scientific, Inc. 3.200%, 08/15/27	$	3,270	$	3,234,742

				38,779,152

Healthcare Services — 1.5%
Centene Corp.
5.625%, 02/15/21		11,610		12,076,722
4.750%, 05/15/22		4,565		4,764,719
6.125%, 02/15/24		7,515		8,125,594
4.750%, 01/15/25		4,275		4,435,312
Fresenius Medical Care U.S. Finance, Inc. 5.750%, 02/15/21 144A @		1,125		1,235,812
HCA, Inc.
3.750%, 03/15/19		1,725		1,761,656
4.250%, 10/15/19		3,781		3,913,335
6.500%, 02/15/20		18,920		20,599,150
UnitedHealth Group, Inc. 1.400%, 12/15/17		1,545		1,544,784
Universal Health Services, Inc. 3.750%, 08/01/19 144A @		520		531,700

				58,988,784

Household Products & Wares — 0.2%
Reckitt Benckiser Treasury Services PLC (3 M ICE LIBOR + 0.560%) 1.888%, 06/24/22 144A @,•		4,140		4,152,768
Spectrum Brands, Inc.
6.625%, 11/15/22		2,711		2,826,217
6.125%, 12/15/24		1,500		1,606,875

				8,585,860

Insurance — 0.5%
HUB International Ltd. 7.875%, 10/01/21 144A @		11,201		11,663,041
Marsh & McLennan Cos., Inc.
2.350%, 03/06/20		1,205		1,212,707
2.750%, 01/30/22		1,705		1,721,556
3.300%, 03/14/23		525		543,016
Trinity Acquisition PLC 4.400%, 03/15/26		2,400		2,544,547

				17,684,867

Internet — 0.4%
Amazon.com, Inc. 2.600%, 12/05/19		4,155		4,232,758
Netflix, Inc.
5.875%, 02/15/25		870		951,562
4.375%, 11/15/26 144A @		9,320		9,352,061

				14,536,381

Lodging — 0.0%
Hilton Domestic Operating Co., Inc. 4.250%, 09/01/24		1,350		1,377,000

Machinery — Diversified — 0.2%
CNH Industrial Capital LLC
3.625%, 04/15/18		5,700		5,737,335
3.875%, 07/16/18		1,725		1,744,406


	Par (000)		Value†
CORPORATE BONDS — (continued)
Machinery—Diversified — (continued)
Welbilt, Inc. 9.500%, 02/15/24	$	425	$	488,219
Xylem, Inc.
4.875%, 10/01/21		415		451,922
3.250%, 11/01/26		640		639,109

				9,060,991

Media — 2.1%
Altice US Finance I Corp. 5.375%, 07/15/23 144A @		1,169		1,236,218
CCO Holdings LLC 5.000%, 02/01/28 144A @		4,180		4,165,579
CCO Holdings LLC/CCO Holdings Capital Corp.
5.250%, 03/15/21		1,900		1,957,000
5.250%, 09/30/22		7,165		7,379,950
5.125%, 02/15/23		5,100		5,265,750
5.125%, 05/01/23 144A @		1,200		1,249,500
5.750%, 09/01/23		3,600		3,735,000
5.750%, 01/15/24		4,225		4,388,719
5.875%, 04/01/24 144A @		2,575		2,732,719
Cequel Communications Holdings I LLC/C equel Capital Corp. 6.375%, 09/15/20 144A @		5,162		5,271,692
Charter Communications Operating LLC/C harter Communications Operating Capital 3.579%, 07/23/20		2,225		2,284,135
DISH DBS Corp. 4.250%, 04/01/18		1,530		1,541,475
Sirius XM Radio, Inc. 6.000%, 07/15/24 144A @		6,280		6,758,850
Time Warner Cable LLC 6.750%, 07/01/18		3,975		4,118,890
Unitymedia GmbH 6.125%, 01/15/25 144A @		6,225		6,637,406
Unitymedia Hessen GmbH & Co. KG 5.500%, 01/15/23 144A @		12,663		13,074,547
Ziggo Secured Finance BV 5.500%, 01/15/27 144A @		7,925		8,120,668

				79,918,098

Miscellaneous Manufacturing — 0.2%
3M Co.
2.250%, 03/15/23		3,400		3,400,700
2.875%, 10/15/27		4,250		4,227,986

				7,628,686

Oil & Gas — 1.3%
Canadian Natural Resources Ltd. 1.750%, 01/15/18		1,000		1,000,709
Chevron Corp. 1.365%, 03/02/18		4,400		4,399,516
Concho Resources, Inc.
5.500%, 10/01/22		4,150		4,268,690
5.500%, 04/01/23		11,900		12,244,505
Diamondback Energy, Inc. 4.750%, 11/01/24		1,200		1,224,000
EQT Corp.


	Par (000)		Value†

Oil & Gas — (continued)
6.500%, 04/01/18	$	1,620	$	1,654,280
8.125%, 06/01/19		1,754		1,924,688
Matador Resources Co. 6.875%, 04/15/23		3,300		3,493,875
Range Resources Corp.
5.000%, 08/15/22 144A @		1,450		1,448,187
5.000%, 03/15/23 144A @		5,640		5,597,700
4.875%, 05/15/25		3,860		3,802,100
Shell International Finance BV (3 M ICE LIBOR + 0.450%) 1.759%, 05/11/20 •		6,720		6,777,490

				47,835,740

Packaging and Containers — 0.5%
Reynolds Group Issuer, Inc./ Reynolds Group Issuer LLC/ Reynolds Group Issuer Lu
5.750%, 10/15/20		11,030		11,223,576
6.875%, 02/15/21		681		697,556
(3 M ICE LIBOR + 3.500%) 4.804%, 07/15/21 144A @,•		4,875		4,972,500
5.125%, 07/15/23 144A @		2,725		2,843,810

				19,737,442

Pharmaceuticals — 0.3%
Eli Lilly & Co. 1.250%, 03/01/18		2,200		2,198,578
Johnson & Johnson 1.125%, 11/21/17		1,360		1,359,682
Pfizer, Inc. 1.200%, 06/01/18		8,525		8,514,699

				12,072,959

Pipelines — 0.2%
Enbridge Energy Partners LP 6.500%, 04/15/18		120		122,979
Targa Resources Partners LP
5.250%, 05/01/23		2,665		2,718,300
4.250%, 11/15/23		2,940		2,914,275
Targa Resources Partners LP/ Tagra Resources Partners Finance Corp. 4.125%, 11/15/19		380		383,800

				6,139,354

Real Estate — 0.2%
American Tower Corp. 3.300%, 02/15/21		3,575		3,663,206
CBRE Services, Inc. 5.000%, 03/15/23		2,100		2,175,911
Iron Mountain, Inc. 4.375%, 06/01/21 144A @		2,940		3,040,813

				8,879,930

Retail — 1.6%
AutoZone, Inc.
1.625%, 04/21/19		365		363,002
2.500%, 04/15/21		1,915		1,914,052
Dollar Tree, Inc. 5.750%, 03/01/23		6,550		6,910,250


	Par (000)		Value†
CORPORATE BONDS — (continued)
Retail — (continued)
KFC Holding Co./ Pizza Hut Holdings/ Taco Bell of America LLC144A @
5.000%, 06/01/24	$	2,105	$	2,218,144
5.250%, 06/01/26		2,983		3,158,251
4.750%, 06/01/27		11,820		12,174,600
L Brands, Inc. 8.500%, 06/15/19		6,784		7,453,920
McDonald’s Corp. 2.100%, 12/07/18		505		507,380
Yum! Brands, Inc.
6.250%, 03/15/18		3,120		3,174,600
5.300%, 09/15/19		2,190		2,304,975
3.875%, 11/01/20		3,725		3,844,200
3.750%, 11/01/21		9,925		10,222,750
3.875%, 11/01/23		3,645		3,643,688
6.875%, 11/15/37		2,255		2,477,681
5.350%, 11/01/43		1,565		1,471,100

				61,838,593

Semiconductors — 0.6%
NXP BV/NXP Funding LLC144A @
3.750%, 06/01/18		22,510		22,735,100
4.125%, 06/15/20		450		469,688

				23,204,788

Software — 1.2%
Fiserv, Inc. 2.700%, 06/01/20		5,175		5,234,838
Microsoft Corp. 3.300%, 02/06/27		31,805		32,930,992
MSCI, Inc.144A @
5.250%, 11/15/24		2,944		3,135,360
5.750%, 08/15/25		2,814		3,070,778

				44,371,968

Telecommunications — 1.3%
Crown Castle International Corp.
4.875%, 04/15/22		7,850		8,525,549
5.250%, 01/15/23		13,865		15,348,609
Level 3 Financing, Inc.
5.375%, 08/15/22		3,500		3,604,335
5.625%, 02/01/23		2,975		3,067,781
T-Mobile USA, Inc. 6.836%, 04/28/23		2,125		2,244,531
Verizon Communications, Inc.
(3 M ICE LIBOR + 1.000%) 2.321%, 03/16/22 •		4,300		4,362,256
3.125%, 03/16/22		4,300		4,406,240
Virgin Media Finance PLC 6.000%, 10/15/24 144A @		3,125		3,285,156
Virgin Media Secured Finance PLC 5.250%, 01/15/26 144A @		3,450		3,592,313

				48,436,770

Transportation — 0.1%
Burlington Northern Santa Fe LLC 3.250%, 06/15/27		2,995		3,071,488


	Par (000)		Value†

TOTAL CORPORATE BONDS (Cost $719,631,413)			$	734,006,854


LOAN AGREEMENTS — 1.4%‡
Diversified Financial Services — 0.2%
Global Payments, Inc. (3 M LIBOR) 3.050%, 05/02/22 ^•		2,975		2,967,562
Vantiv LLC (3 M LIBOR) 3.559%, 09/20/22 •		2,540		2,541,067

				5,508,629

Entertainment — 0.0%
Kasima LLC (3 M LIBOR + 2.500%) 3.826%, 05/17/21 •		251		252,094

Insurance — 0.6%
Hub International Ltd. (3 M LIBOR + 3.000%) 4.312%, 10/02/20 •		23,047		23,188,475

Machinery — Diversified — 0.1%
Welbilt, Inc. (3 M LIBOR + 2.750%) 3.985%, 03/03/23 •		4,953		4,981,566

Media — 0.1%
Charter Communications Operating
(3 M LIBOR + 2.000%) 3.240%, 07/01/20 •		3,019		3,028,230
(3 M LIBOR + 2.000%) 3.240%, 01/03/21 •		1,420		1,423,410

				4,451,640

Oil & Gas — 0.1%
Eagleclaw Midstream Ventures LLC (3 M LIBOR + 4.250%) 5.522%, 06/24/24 •		4,264		4,292,286

Pharmaceuticals — 0.0%
Prestige Brands Holdings, Inc. (3 M LIBOR + 2.750%) 3.985%, 01/26/24 •		398		399,789

Retail — 0.0%
Dollar Tree, Inc. 4.250%, 07/06/22		250		253,125

Software — 0.3%
Change Healthcare Holdings (3 M LIBOR + 2.750%) 3.985%, 03/01/24		9,055		9,074,873	•


	Par (000)		Value†
LOAN AGREEMENTS‡ — (continued)
Software — (continued)
Fiserv, Inc. (3 M LIBOR) 2.243%, 10/25/18 ^•	$	690	$	686,550

				9,761,423

TOTAL LOAN AGREEMENTS (Cost $52,362,841)				53,089,027


	Number of Contracts		Value†
PURCHASED OPTIONS — 0.1%
Call Options — 0.1%
TOTAL PURCHASED OPTIONS (See open purchased options schedule) (Cost $2,112,912)				2,439,936


	Number of Shares		Value†
SHORT-TERM INVESTMENTS — 13.5%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares		9,811,138		9,811,138
T. Rowe Price Investment, Ltd.		506,133,613		506,133,613

TOTAL SHORT-TERM INVESTMENTS (Cost $515,944,751)				515,944,751

TOTAL INVESTMENTS — 100.9% (Cost $3,381,681,419)			$	3,860,214,954

Other Assets & Liabilities — (0.9)%				(34,908,450	)

TOTAL NET ASSETS — 100.0%			$	3,825,306,504


	Number of Contracts		Value†
WRITTEN OPTIONS
Call Options
TOTAL WRITTEN OPTIONS (See open written options schedule) (Premiums $10,652,224)				(21,898,552	)

†	See Security Valuation Note.

*	Non-income producing security.

144A @

Security sold within the terms of a private placement memorandum, restricted and/or exempt from registration under Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in the program or other “accredited investors”. Unless otherwise indicated, the security is considered liquid.

•	Variable Rate Security. The rate shown is the rate in effect on September 30, 2017, and the date shown is the final maturity date, not the next reset or put date. The rate floats based upon the published reference rate and spread disclosed in the Schedule of Investments.

^	Illiquid security. The total market value of illiquid securities at September 30, 2017 is $4,134,438.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017		Level 1 Quoted Price		Level 2 Sign- ificant- Obser- vable Input		Level 3 Signi- ficant Unobser- vable Input
ASSET BACKED SECURITIES	$	9,809,604	$	—	$	9,809,604	$	—
COMMON STOCKS		2,353,215,456		2,353,215,456		—		—
REAL ESTATE INVESTMENT TRUSTS
Diversified		35,358,534		19,747,253		15,611,281		—
Telecommunications		26,766,075		26,766,075		—		—
PREFERRED STOCKS		129,584,717		129,584,717		—		—
CORPORATE BONDS		734,006,854		—		734,006,854		—
LOAN AGREEMENTS		53,089,027		—		53,089,027		—
PURCHASED OPTIONS		2,439,936		—		2,439,936		—
SHORT-TERM INVESTMENTS		515,944,751		515,944,751		—		—

TOTAL INVESTMENTS	$	3,860,214,954	$	3,045,258,252	$	814,956,702	$	—


LIABILITIES TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price			Level 2 Signi- ficant Obser- vable Input			Level 3 Signi- ficant Unobser- vable Input
WRITTEN OPTIONS	$	(21,898,552	)	$	(164,956	)	$	(21,733,596	)	$	—

TOTAL LIABILITIES	$	(21,898,552	)	$	(164,956	)	$	(21,733,596	)	$	—

It Is the Fund’s practice to recognize transfers in and transfers out at the fair value as of the beginning of period.

An amount of $28,648,314 was transferred from Level 2 into Level 1 at 9/30/17 as a result of using quoted prices in active market for such foreign securities. The Fund did not have any transfers in and transfers out of Level 3 fair value hierarchy during the reporting period.

Open Purchased Options

Call Options - 0.01%


Description	# of Contracts		Notional		Exercise Price		Expiration Date		Value
Altria Group Inc.		170	$	1,105,000	$	65		3/16/2018	$	43,180
Altria Group Inc.		170		1,147,500		68		6/15/2018		37,400
AT & T Inc.		1,693		6,602,700		39		4/20/2018		270,880
AT & T Inc.		1,693		6,772,000		40		6/15/2018		237,020
Comcast Corp.		848		3,392,000		40		6/15/2018		167,056
Consumer Discretionary SELT		1,355		12,872,500		95		3/16/2018		135,500
Consumer Discretionary SELT		1,355		12,872,500		95		6/15/2018		261,515
CVS Health Corp.		170		1,445,000		85		5/18/2019		53,550
Dr Pepper Snapple Group Inc.		85		786,250		93		5/18/2018		22,100
Dr Pepper Snapple Group Inc.		85		807,500		95		5/18/2018		15,300
Financial Select Sector SPDR		2,538		6,598,800		26		3/16/2018		258,876
Financial Select Sector SPDR		2,538		6,598,800		26		6/15/2018		337,554
Genuine Parts Co.		85		765,000		90		5/18/2018		70,550
JM Smucker Co./The		169		1,943,500		115		4/20/2018		33,969
Kraft Heinz Co/The		339		2,881,500		85		4/20/2018		42,375
O’Reilly Automotive Inc.		63		1,386,000		220		5/18/2018		116,550
Synchrony Financial		169		523,900		31		5/18/2018		36,335
Sysco Corp.		85		467,500		55		5/18/2018		17,000
Verizon Communications Inc.		488		2,440,000		50		4/20/2018		77,592
Verizon Communications Inc.		488		2,440,000		50		5/18/2018		101,992
Wells Fargo & Co.~		154		847,000		55		5/18/2018		49,742
Wells Fargo & Co.		154		847,000		55		5/18/2018		53,900

Total Purchased Options									$	2,439,936


Open Written Options
Call Options
Description	# of Contracts		Notional		Exercise Price		Expiration Date		Value
Alphabet Inc.		40	$	3,360,000	$	840		1/19/2018	$	(514,400	)
Alphabet Inc.		40		3,440,000		860		1/19/2018		(455,200	)
Alphabet Inc.		116		10,208,000		880		1/19/2018		(1,119,400	)
Alphabet Inc.		192		17,280,000		900		1/19/2018		(1,548,672	)
Alphabet Inc.		186		17,112,000		920		1/19/2018		(1,224,438	)
Alphabet Inc.		168		15,792,000		940		1/19/2018		(900,312	)
Amazon.com		105		10,500,000		1,000		1/19/2018		(372,750	)
Amazon.com		76		8,208,000		1,080		1/19/2018		(105,108	)
Amazon.com		76		8,360,000		1,100		1/19/2018		(79,800	)
Amazon.com		174		16,530,000		950		1/19/2018		(1,021,380	)
American Tower Corp.		337		3,875,500		115		1/19/2018		(771,730	)
American Tower Corp.		337		4,044,000		120		1/19/2018		(598,512	)
Apple, Inc.		547		9,572,500		175		1/19/2018		(95,725	)
Apple, Inc.		548		9,864,000		180		1/19/2018		(63,020	)
Bank of New York Mellon		892		4,906,000		55		1/18/2019		(330,040	)
Bank of New York Mellon		891		5,346,000		60		1/18/2019		(175,527	)
Biogen, Inc.		129		4,515,000		350		1/19/2018		(194,790	)
Danaher Corp.		2,225		20,025,000		90		1/19/2018		(244,750	)
Mastercard Inc.		846		11,844,000		140		1/19/2018		(520,290	)
Mastercard Inc.		55		660,000		120		1/19/2018		(118,525	)
Mastercard Inc.		26		325,000		125		1/19/2018		(45,110	)
Mastercard Inc.		1		13,000		130		1/19/2018		(1,321	)
The PNC Financial Services		1,030		13,905,000		135		1/19/2018		(530,450	)
The PNC Financial Services		99		1,386,000		140		1/18/2019		(93,060	)
The PNC Financial Services		99		1,435,500		145		1/18/2019		(73,260	)
The PNC Financial Services		99		1,485,000		150		1/18/2019		(57,420	)
The PNC Financial Services		99		1,534,500		155		1/18/2019		(47,520	)
UnitedHeatlth Group, Inc.		892		16,056,000		180		1/19/2018		(1,635,036	)
Visa Inc.		543		6,516,000		120		1/18/2019		(228,060	)
Visa Inc.		938		9,849,000		105		1/18/2018		(398,650	)
Visa Inc.		197		2,068,500		105		1/18/2019		(201,925	)
Visa Inc.		197		2,167,000		110		1/18/2019		(156,615	)
Visa Inc.		197		2,265,500		115		1/18/2019		(113,078	)
Visa Inc.		1,611		14,499,000		90		1/19/2018		(2,577,600	)
Visa Inc.		3,101		29,459,500		95		1/19/2018		(3,473,120	)
Wells Fargo & Co.		1,605		10,432,500		65		1/19/2018		(19,260	)
Zoetis, Inc.		2,429		14,574,000		60		1/19/2018		(1,170,778	)
Zoetis, Inc.		1,567		9,793,750		63		1/19/2018		(485,770	)
Zoetis, Inc.		778		5,057,000		65		1/19/2018		(136,150	)

Total Written Options									$	(21,898,552	)

~	Fair valued security. The total market value of fair valued securities at September 30, 2017 is $49,742.

The accompanying notes are an integral part of the financial statements.


	Number of Shares		Value†
COMMON STOCKS — 93.6%
Aerospace & Defense — 2.4%
The Boeing Co.		28,536	$	7,254,137

Agriculture — 2.2%
British American Tobacco PLC		34,541		2,162,429
Philip Morris International, Inc.		40,231		4,466,043

				6,628,472

Airlines — 1.9%
American Airlines Group, Inc.		92,900		4,411,821
United Continental Holdings, Inc.*		20,554		1,251,327

				5,663,148

Auto Manufacturers — 2.0%
Ferrari N.V.*		25,583		2,826,410
Tesla Motors, Inc.*		9,111		3,107,762

				5,934,172

Auto Parts & Equipment — 0.4%
Delphi Automotive PLC		12,200		1,200,480

Banks — 3.8%
First Republic Bank		18,677		1,950,999
JPMorgan Chase & Co.		32,100		3,065,871
Morgan Stanley		92,800		4,470,176
State Street Corp.		17,800		1,700,612

				11,187,658

Biotechnology — 4.5%
Alexion Pharmaceuticals, Inc.*		27,459		3,852,223
Biogen, Inc.*		11,532		3,610,900
Celgene Corp.*		11,300		1,647,766
Vertex Pharmaceuticals, Inc.*		28,767		4,373,735

				13,484,624

Building Materials — 0.6%
Fortune Brands Home & Security, Inc.		26,541		1,784,351

Commercial Services — 6.5%
Equifax, Inc.		21,261		2,253,453
Mastercard, Inc., Class A		37,500		5,295,000
PayPal Holdings, Inc.*		125,955		8,064,899
TransUnion*		39,657		1,874,190
Vantiv, Inc., Class A*		27,200		1,916,784

				19,404,326

Computers — 5.8%
Apple, Inc.		111,386		17,166,810

Diversified Financial Services — 4.9%
Intercontinental Exchange, Inc.		47,600		3,270,120
TD Ameritrade Holding Corp.		64,183		3,132,130
Visa, Inc., Class A		76,000		7,998,240

				14,400,490

Electric — 0.8%
NextEra Energy, Inc.		16,000		2,344,800

Electrical Components & Equipment — 0.9%
Acuity Brands, Inc.		16,225		2,779,018


	Number of Shares		Value†

Electronics — 1.8%
Fortive Corp.		27,288	$	1,931,718
Honeywell International, Inc.		23,100		3,274,194

				5,205,912

Food — 0.6%
Danone S.A.		1,411		110,682
The Kraft Heinz Co.		19,400		1,504,470

				1,615,152

Healthcare Products — 4.4%
Becton Dickinson & Co.,		21,001		4,115,146
Intuitive Surgical, Inc.*		4,400		4,601,872
Stryker Corp.		30,500		4,331,610

				13,048,628

Healthcare Services — 6.3%
Aetna, Inc.		13,039		2,073,332
Anthem, Inc.		12,600		2,392,488
Centene Corp.*		11,725		1,134,628
Cigna Corp.		16,133		3,015,903
HCA Healthcare, Inc.*		27,800		2,212,602
Humana, Inc.		8,011		1,951,720
UnitedHealth Group, Inc.		30,400		5,953,840

				18,734,513

Insurance — 0.4%
Chubb Ltd.		8,360		1,191,718

Internet — 23.3%
Alibaba Group Holding Ltd. ADR*		50,068		8,647,244
Alphabet, Inc., Class A*		7,530		7,332,112
Alphabet, Inc., Class C*		7,720		7,404,329
Amazon.com, Inc.*		16,550		15,910,343
Facebook, Inc., Class A*		69,227		11,828,817
Netflix, Inc.*		9,700		1,759,095
Symantec Corp.		110,500		3,625,505
Tencent Holdings Ltd.		70,900		3,051,434
The Priceline Group, Inc.*		5,210		9,538,572

				69,097,451

Lodging — 0.6%
Marriott International, Inc., Class A		11,839		1,305,368
MGM Resorts International		13,290		433,121

				1,738,489

Machinery — Diversified — 1.3%
Roper Technologies, Inc.		11,542		2,809,323
Wabtec Corp.		13,209		1,000,582

				3,809,905

Miscellaneous Manufacturing — 1.4%
Danaher Corp.		16,900		1,449,682
Illinois Tool Works, Inc.		18,100		2,678,076

				4,127,758

Pharmaceuticals — 1.2%
Merck & Co., Inc.		35,100		2,247,453
Zoetis, Inc.		21,900		1,396,344

				3,643,797


	Number of Shares		Value†
COMMON STOCKS — (continued)
Retail — 2.6%
AutoZone, Inc.*		2,306	$	1,372,324
Dollar General Corp.		11,600		940,180
Restaurant Brands International, Inc.		27,778		1,774,458
The Home Depot, Inc.		5,700		932,292
Yum! Brands, Inc.		37,600		2,767,736

				7,786,990

Semiconductors — 1.6%
ASML Holding N.V.		4,400		753,280
NVIDIA Corp.		4,100		732,957
Xilinx, Inc.		47,751		3,382,203

				4,868,440

Software — 10.3%
Electronic Arts, Inc.*		24,500		2,892,470
Fidelity National Information Services, Inc.		30,400		2,839,056
Fiserv, Inc.*		18,603		2,399,043
Intuit, Inc.		25,600		3,638,784
Microsoft Corp.		153,900		11,464,011
salesforce.com, Inc.*		38,800		3,624,696
ServiceNow, Inc.*		19,522		2,294,421
Workday, Inc., Class A*		14,144		1,490,636

				30,643,117

Telecommunications — 0.8%
Altice USA, Inc., Class A*		24,861		678,954
T-Mobile US, Inc.*		28,000		1,726,480

				2,405,434

Water — 0.3%
American Water Works Co., Inc.		9,907		801,575

TOTAL COMMON STOCKS (Cost $200,640,654)				277,951,365

PREFERRED STOCKS — 1.6%
Internet — 0.8%
Dropbox Inc., Class A*(1),^,~		24,940		234,436
Flipkart Ltd., Ordinary Shares*(1),^,~		566		49,872
Flipkart Ltd., Series A*(1),^,~		196		17,270
Flipkart Ltd., Series C*(1),^,~		341		30,047
Flipkart Ltd., Series E*(1),^,~		636		56,040
Flipkart Ltd., Series G*(1),^,~		2,888		345,867
Flipkart Ltd., Series H*(1),^,~		2,579		366,837
Uber Technologies, Inc., Series G, CONV*(1),^,~		12,545		536,048
Xiaoju Kuaizhi, Inc (didi), CONV*(1),^,~		11,920		607,111

				2,243,528

Lodging — 0.5%
Airbnb, Inc., Series D, CONV*(1),^,~		9,999		1,121,887
Airbnb, Inc., Series E, CONV*(1),^,~		3,694		414,467

				1,536,354

Real Estate — 0.2%
WeWork Companies, Inc., Class A*(1),^,~		923		47,821


	Number of Shares		Value†

Real Estate — (continued)
WeWork Companies, Inc., Series E, CONV*(1),^,~		8,297	$	429,867

				477,688

Software — 0.1%
Magic Leap Inc., Series C, CONV*(1),^,~		15,808		364,106

TOTAL PREFERRED STOCKS (Cost $3,744,429)				4,621,676

REAL ESTATE INVESTMENT TRUSTS — 3.1%
Diversified — 2.7%
American Tower Corp.		22,600		3,088,968
Crown Castle International Corp.		48,700		4,869,026

				7,957,994

Telecommunications — 0.4%
Equinix, Inc.		2,589		1,155,471

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $7,214,789)				9,113,465


	Par (000)		Value†
CORPORATE BONDS — 0.7%
Lodging — 0.7%
Caesars Entertainment Operating Co., Inc. 10.750%, 02/01/16 ^^		95		146,300
Caesars Entertainment Operating Co., Inc. 10.000%, 12/15/18 ^^		1,918		1,975,540
TOTAL CORPORATE BONDS (Cost $2,006,497)				2,121,840


	Number of Shares		Value†
SHORT-TERM INVESTMENTS — 1.3%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares		722,951		722,951
T. Rowe Price Investment, Ltd.		3,180,200		3,180,200

TOTAL SHORT-TERM INVESTMENTS (Cost $3,903,151)				3,903,151

TOTAL INVESTMENTS — 100.3% (Cost $217,509,520)			$	297,711,497

Other Assets & Liabilities — (0.3)%				(911,220	)

TOTAL NET ASSETS — 100.0%			$	296,800,277

(1)	The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Valuation Hierachy table located at the end of the Schedule of Investments.

^^	Defaulted Security.

^	Illiquid security. The total market value of illiquid securities at September 30, 2017 is $4,621,676.

†	See Security Valuation Note.

*	Non-income producing security.

~	Fair valued security. The total market value of fair valued securities at September 30, 2017 is $4,621,676.

ADR — American Depository Receipt.

CONV — Convertible Security.

PLC — Public Limited Company.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017		Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input		Level 3 Signi- ficant Unobser- vable Input
COMMON STOCKS	$	277,951,365	$	277,951,365	$	—	$	—
REAL ESTATE INVESTMENT TRUSTS		9,113,465		9,113,465		—		—
PREFERRED STOCKS		4,621,676		—		—		4,621,676
CORPORATE BONDS		2,121,840		—		2,121,840		—
SHORT-TERM INVESTMENTS		3,903,151		3,903,151		—		—

TOTAL INVESTMENTS	$	297,711,497	$	290,967,981	$	2,121,840	$	4,621,676

Following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:


	Investments in Securities (Market Value)
Balance as of 12/31/2016	$	4,474,572
Change in Appreciation/(Depreciation)		542,900
Transfers Out of Level 3		(395,796	)

Balance as of 9/30/2017	$	4,621,676

It Is the Fund’s practice to recognize transfers in and transfers out at the fair value as of the beginning of period. The Fund had transfers of $395,796 from Level 3 to Level 2 fair value hierarchy during the reporting period. On March 1, 2017, Snap, Inc. began publicly trading, therefore obtaining a Significant Observable Input for the valuation of Snap, Inc. Class A and Class B shares.

An amount of $3,173,947 was transferred from Level 2 into Level 1 at 9/30/17 as a result of using quoted prices in active market for such foreign securities.

The accompanying notes are an integral part of the financial statements.


	Number of Shares		Value†
COMMON STOCKS — 99.4%
Aerospace & Defense — 1.3%
United Technologies Corp.		6,159	$	714,937

Apparel — 5.6%
LVMH Moet Hennessy Louis Vuitton S.E.		3,468		956,866
NIKE, Inc., Class B		27,382		1,419,757
VF Corp.		12,511		795,324

				3,171,947

Beverages — 3.1%
Ambev S.A. ADR		61,218		403,427
PepsiCo, Inc.		6,924		771,541
Pernod Ricard S.A.		4,295		594,173

				1,769,141

Chemicals — 6.8%
Ecolab, Inc.		10,527		1,353,877
LyondellBasell Industries NV, Class A		1,814		179,677
Monsanto Co.		5,236		627,378
PPG Industries, Inc.		8,050		874,713
The Sherwin-Williams Co.		2,376		850,703

				3,886,348

Commercial Services — 6.3%
Equifax, Inc.		4,449		471,550
Mastercard, Inc., Class A		7,198		1,016,358
Moody’s Corp.		7,492		1,042,961
Verisk Analytics, Inc.*		12,259		1,019,826

				3,550,695

Computers — 9.1%
Accenture PLC, Class A		17,385		2,348,192
Apple, Inc.		9,743		1,501,591
Cognizant Technology Solutions Corp., Class A		18,200		1,320,228

				5,170,011

Cosmetics & Personal Care — 7.8%
Colgate-Palmolive Co.		23,266		1,694,928
Coty, Inc., Class A		47,553		786,051
L’Oreal S.A.		2,275		483,717
The Estee Lauder Cos., Inc., Class A		13,548		1,461,016

				4,425,712

Diversified Financial Services — 6.4%
CME Group, Inc.		2,131		289,134
The Blackstone Group LP		32,473		1,083,624
The Charles Schwab Corp.		11,322		495,224
Visa, Inc., Class A		16,587		1,745,616

				3,613,598

Electronics — 7.6%
Amphenol Corp., Class A		11,394		964,388
Fortive Corp.		5,116		362,161
Mettler-Toledo International, Inc.*		1,067		668,113
Thermo Fisher Scientific, Inc.		9,119		1,725,315
Waters Corp.*		3,359		603,008

				4,322,985


	Number of Shares		Value†

Entertainment — 0.7%
Paddy Power Betfair PLC		4,120	$	409,091

Food — 0.9%
Compass Group PLC		25,172		533,953

Healthcare Products — 1.7%
DENTSPLY SIRONA, Inc.		2,492		149,047
The Cooper Cos., Inc.		1,786		423,478
Zimmer Biomet Holdings, Inc.		3,207		375,508

				948,033

Household Products & Wares — 0.7%
Church & Dwight Co., Inc.		8,063		390,652

Insurance — 2.3%
Aon PLC		8,780		1,282,758

Internet — 6.5%
Alphabet, Inc., Class A*		3,813		3,712,794

Media — 3.4%
Comcast Corp., Class A		24,906		958,383
The Walt Disney Co.		1,922		189,451
Twenty-First Century Fox, Inc., Class A		29,123		768,265

				1,916,099

Miscellaneous Manufacturing — 2.2%
Colfax Corp.*		10,373		431,932
Danaher Corp.		9,705		832,495

				1,264,427

Oil & Gas Services — 0.8%
Schlumberger Ltd.		6,877		479,739

Pharmaceuticals — 6.0%
Abbott Laboratories		18,825		1,004,502
Eli Lilly & Co.		7,053		603,314
Express Scripts Holding Co.*		4,742		300,263
Roche Holding AG		2,977		759,967
Zoetis, Inc.		11,802		752,496

				3,420,542

Retail — 6.1%
AutoZone, Inc.*		768		457,045
CVS Health Corp.		8,382		681,624
Starbucks Corp.		25,892		1,390,659
The TJX Cos., Inc.		12,307		907,395

				3,436,723

Semiconductors — 3.9%
Taiwan Semiconductor Manufacturing Co. Ltd. ADR		18,674		701,209
Texas Instruments, Inc.		16,761		1,502,456

				2,203,665

Software — 8.6%
Electronic Arts, Inc.*		8,465		999,378
Fidelity National Information Services, Inc.		13,024		1,216,311
Fiserv, Inc.*		7,688		991,444


	Number of Shares		Value†
COMMON STOCKS — 96.6%
Aerospace & Defense — 8.6%
TransDigm Group, Inc.		15,711	$	4,016,517
United Technologies Corp.		50,976		5,917,294

				9,933,811

Apparel — 5.9%
LVMH Moet Hennessy Louis Vuitton S.E.		20,572		5,676,083
NIKE, Inc., Class B		22,318		1,157,188

				6,833,271

Building Materials — 3.0%
Martin Marietta Materials, Inc.		8,541		1,761,411
Vulcan Materials Co.		14,737		1,762,545

				3,523,956

Chemicals — 1.6%
The Sherwin-Williams Co.		5,134		1,838,177

Commercial Services — 12.5%
IHS Markit Ltd.*		63,885		2,816,051
Mastercard, Inc., Class A		20,433		2,885,139
S&P Global, Inc.		37,203		5,815,201
Verisk Analytics, Inc.*		35,973		2,992,594

				14,508,985

Electronics — 1.1%
Fortive Corp.		18,576		1,314,995

Insurance — 5.1%
Berkshire Hathaway, Inc., Class B*		32,095		5,883,655

Internet — 24.1%
Alphabet, Inc., Class C*		7,468		7,162,634
Amazon.com, Inc.*		9,106		8,754,053
Facebook, Inc., Class A*		40,800		6,971,496
The Priceline Group, Inc.*		1,555		2,846,925
Twitter, Inc.*		127,708		2,154,434

				27,889,542

Media — 2.5%
The Walt Disney Co.		29,404		2,898,352

Miscellaneous Manufacturing — 2.5%
Danaher Corp.		33,350		2,860,763

Pharmaceuticals — 2.8%
Zoetis, Inc.		50,200		3,200,752

Retail — 8.5%
L Brands, Inc.		29,248		1,217,009
Starbucks Corp.		105,062		5,642,880
The TJX Cos., Inc.		39,716		2,928,261

				9,788,150

Software — 14.8%
Activision Blizzard, Inc.		63,003		4,064,324
MSCI, Inc.		24,736		2,891,638
salesforce.com, Inc.*		45,797		4,278,356
ServiceNow, Inc.*		25,211		2,963,049


	Number of Shares		Value†
COMMON STOCKS — 100.8%
Aerospace & Defense — 5.5%
Harris Corp.		27,016	$	3,557,467
Northrop Grumman Corp.		10,836		3,117,734
United Technologies Corp.		35,159		4,081,256

				10,756,457

Agriculture — 1.6%
Philip Morris International, Inc.		28,364		3,148,688

Banks — 16.5%
Bank of America Corp.		231,832		5,874,623
Citigroup, Inc.		69,213		5,034,554
Fifth Third Bancorp		87,125		2,437,758
JPMorgan Chase & Co.		69,985		6,684,267
State Street Corp.		29,362		2,805,245
The PNC Financial Services Group, Inc.		30,234		4,074,636
Wells Fargo & Co.		98,993		5,459,464

				32,370,547

Beverages — 1.4%
PepsiCo, Inc.		25,142		2,801,573

Building Materials — 2.9%
Johnson Controls International PLC		91,777		3,697,695
Vulcan Materials Co.		16,505		1,973,998

				5,671,693

Chemicals — 1.7%
DowDuPont, Inc.		48,507		3,358,140

Commercial Services — 1.4%
Alliance Data Systems Corp.		12,362		2,738,801

Computers — 2.1%
Apple, Inc.		15,771		2,430,627
Diebold Nixdorf, Inc.		71,971		1,644,537

				4,075,164

Diversified Financial Services — 5.5%
American Express Co.		26,051		2,356,573
Ameriprise Financial, Inc.		21,314		3,165,342
Discover Financial Services		37,574		2,422,772
FNF Group		59,509		2,824,297

				10,768,984

Electric — 4.2%
Exelon Corp.		59,729		2,249,991
NextEra Energy, Inc.		20,329		2,979,215
PG&E Corp.		44,733		3,045,870

				8,275,076

Electronics — 1.7%
Honeywell International, Inc.		23,700		3,359,238

Food — 1.6%
Mondelez International, Inc., Class A		75,460		3,068,204

Healthcare Products — 1.9%
Medtronic PLC		47,800		3,717,406


	Number of Shares		Value†

Healthcare Services — 5.3%
Aetna, Inc.		14,636	$	2,327,270
Humana, Inc.		8,047		1,960,491
Laboratory Corp. of America Holdings*		18,993		2,867,373
UnitedHealth Group, Inc.		16,077		3,148,681

				10,303,815

Housewares — 1.1%
Newell Brands, Inc.		49,497		2,112,037

Insurance — 5.0%
American International Group, Inc.		55,740		3,421,879
MetLife, Inc.		67,091		3,485,377
The Travelers Cos, Inc.		24,243		2,970,252

				9,877,508

Internet — 2.2%
Liberty Interactive Corp. QVC Group, Class A*		104,137		2,454,509
Symantec Corp.		57,534		1,887,691

				4,342,200

Leisure Time — 0.8%
Harley-Davidson, Inc.		33,327		1,606,695

Media — 3.3%
Comcast Corp., Class A		115,196		4,432,742
Nielsen Holdings PLC		46,859		1,942,306

				6,375,048

Miscellaneous Manufacturing — 2.6%
Eaton Corp. PLC		29,063		2,231,748
Pentair PLC		40,641		2,761,962

				4,993,710

Oil & Gas — 6.9%
Anadarko Petroleum Corp.		58,975		2,880,929
Chevron Corp.		35,913		4,219,777
Hess Corp.		32,738		1,535,085
Marathon Petroleum Corp.		48,334		2,710,571
Royal Dutch Shell PLC ADR, Class A		36,702		2,223,407

				13,569,769

Oil & Gas Services — 2.3%
Baker Hughes		54,708		2,003,407
Halliburton Co.		55,032		2,533,123

				4,536,530

Packaging and Containers — 1.5%
Sealed Air Corp.		68,061		2,907,566

Pharmaceuticals — 8.7%
Abbott Laboratories		70,738		3,774,580
Allergan PLC		12,558		2,573,762
Bristol-Myers Squibb Co.		28,849		1,838,835
Eli Lilly & Co.		20,853		1,783,766
Merck & Co., Inc.		39,642		2,538,277
Pfizer, Inc.		124,418		4,441,722

				16,950,942


	Number of Shares		Value†
COMMON STOCKS — (continued)
Real Estate — 1.1%
CBRE Group, Inc., Class A*		57,871	$	2,192,153

Retail — 1.8%
Advance Auto Parts, Inc.		18,863		1,871,210
CVS Health Corp.		20,875		1,697,555

				3,568,765

Semiconductors — 1.2%
QUALCOMM, Inc.		46,166		2,393,245

Software — 4.1%
Microsoft Corp.		49,611		3,695,523
Oracle Corp.		88,374		4,272,883

				7,968,406

Telecommunications — 3.3%
Cisco Systems, Inc.		103,131		3,468,296
Verizon Communications, Inc.		59,713		2,955,196

				6,423,492

Transportation — 1.6%
Norfolk Southern Corp.		24,054		3,180,901

TOTAL COMMON STOCKS (Cost $151,377,763)				197,412,753

REAL ESTATE INVESTMENT TRUSTS — 2.0%
Advertising — 0.6%
Outfront Media, Inc.		47,216		1,188,899

Diversified — 1.4%
Weyerhaeuser Co.		78,768		2,680,475

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $3,361,033)				3,869,374

SHORT-TERM INVESTMENTS — 1.4%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $2,725,370)		2,725,370		2,725,370

TOTAL INVESTMENTS — 104.2% (Cost $157,464,166)			$	204,007,497

Other Assets & Liabilities — (4.2)%				(8,163,347	)

TOTAL NET ASSETS — 100.0%			$	195,844,150

†	See Security Valuation Note.

*	Non-income producing security.

ADR — American Depository Receipt.

PLC — Public Limited Company.


	Number of Shares		Value†
COMMON STOCKS — 88.1%
Agriculture — 3.3%
Altria Group, Inc.		30,050	$	1,905,771
Philip Morris International, Inc.		44,744		4,967,031

				6,872,802

Apparel — 1.3%
NIKE, Inc., Class B		18,468		957,566
VF Corp.		26,680		1,696,047

				2,653,613

Auto Parts & Equipment — 0.8%
The Goodyear Tire & Rubber Co.		50,006		1,662,700

Banks — 15.4%
Bank of America Corp.		255,199		6,466,743
Credit Suisse Group AG ADR		126,695		2,001,781
First Republic Bank		11,057		1,155,014
Great Western Bancorp, Inc.		34,248		1,413,757
JPMorgan Chase & Co.		83,610		7,985,591
KeyCorp.		108,619		2,044,210
The PNC Financial Services Group, Inc.		2,591		349,189
U.S. Bancorp		91,438		4,900,162
Wells Fargo & Co.		102,430		5,649,015

				31,965,462

Biotechnology — 1.3%
Gilead Sciences, Inc.		32,273		2,614,758

Computers — 1.0%
Leidos Holdings, Inc.		35,838		2,122,326

Cosmetics & Personal Care — 2.1%
Colgate-Palmolive Co.		46,132		3,360,716
The Estee Lauder Cos., Inc., Class A		9,538		1,028,578

				4,389,294

Diversified Financial Services — 2.4%
Ally Financial, Inc.		29,896		725,277
ETRADE Financial Corp.		34,577		1,507,903
The Charles Schwab Corp.		62,746		2,744,510

				4,977,690

Electric — 3.2%
CMS Energy Corp.		55,670		2,578,634
NextEra Energy, Inc.		27,787		4,072,185

				6,650,819

Electronics — 1.0%
FLIR Systems, Inc.		52,978		2,061,374

Food — 3.1%
McCormick & Co., Inc.		25,975		2,666,074
Mondelez International, Inc., Class A		90,113		3,663,995

				6,330,069

Forest Products & Paper — 1.3%
International Paper Co.		47,736		2,712,360

Gas — 1.8%
Sempra Energy		33,611		3,836,023


	Number of Shares		Value†

Healthcare Products — 1.0%
Boston Scientific Corp.*		73,289	$	2,137,840

Healthcare Services — 1.5%
Aetna, Inc.		19,480		3,097,515

Home Furnishings — 0.8%
Whirlpool Corp.		9,482		1,748,860

Insurance — 4.4%
Alleghany Corp.*		4,264		2,362,299
American Financial Group, Inc.		11,272		1,166,088
Berkshire Hathaway, Inc., Class B*		17,187		3,150,721
Chubb Ltd.		17,595		2,508,167

				9,187,275

Internet — 1.8%
Alphabet, Inc., Class C*		3,957		3,795,198

Machinery — Construction & Mining — 1.2%
Caterpillar, Inc.		20,122		2,509,415

Mining — 0.5%
Rio Tinto PLC ADR		21,378		1,008,828

Miscellaneous Manufacturing — 1.9%
Hexcel Corp.		27,407		1,573,710
Parker-Hannifin Corp.		6,314		1,105,076
Textron, Inc.		23,760		1,280,189

				3,958,975

Oil & Gas — 7.7%
Chevron Corp.		53,460		6,281,550
ConocoPhillips		63,486		3,177,474
EOG Resources, Inc.		32,955		3,188,067
Exxon Mobil Corp.		13,721		1,124,848
Phillips 66		24,895		2,280,631

				16,052,570

Oil & Gas Services — 2.4%
Core Laboratories N.V.		14,400		1,421,280
Halliburton Co.		51,122		2,353,145
Oceaneering International, Inc.		45,547		1,196,520

				4,970,945

Packaging and Containers — 0.5%
Ball Corp.		26,653		1,100,769

Pharmaceuticals — 9.6%
Allergan PLC		15,353		3,146,597
Eli Lilly & Co.		17,699		1,513,973
Johnson & Johnson		66,766		8,680,248
Pfizer, Inc.		142,121		5,073,720
Zoetis, Inc.		23,961		1,527,753

				19,942,291

Retail — 2.6%
Lululemon Athletica, Inc.*		28,077		1,747,793
Starbucks Corp.		26,962		1,448,129


	Number of Shares		Value†
COMMON STOCKS — (continued)
Retail — (continued)
The Home Depot, Inc.		13,038	$	2,132,496

				5,328,418

Semiconductors — 3.7%
Intel Corp.		115,398		4,394,356
QUALCOMM, Inc.		61,642		3,195,521

				7,589,877

Telecommunications — 5.0%
AT&T, Inc.		80,960		3,171,203
Verizon Communications, Inc.		147,086		7,279,286

				10,450,489

Transportation — 5.5%
C.H. Robinson Worldwide, Inc.		82,562		6,282,968
CSX Corp.		93,702		5,084,271

				11,367,239

TOTAL COMMON STOCKS (Cost $164,323,049)				183,095,794

REAL ESTATE INVESTMENT TRUSTS — 6.7%
Apartments — 1.4%
Equity Residential		45,518		3,001,002

Diversified Financial Services — 0.8%
DCT Industrial Trust, Inc.		27,588		1,597,897

Office Property — 0.7%
Boston Properties, Inc.		12,126		1,490,043

Regional Malls — 2.2%
Simon Property Group, Inc.		27,986		4,506,026

Storage & Warehousing — 1.6%
Public Storage		15,526		3,322,408

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $14,557,563)				13,917,376

SHORT-TERM INVESTMENTS — 0.3%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $559,240)		559,240		559,240

TOTAL INVESTMENTS — 95.1% (Cost $179,439,852)			$	197,572,410

Other Assets & Liabilities — 4.9%				10,175,143

TOTAL NET ASSETS — 100.0%			$	207,747,553

†	See Security Valuation Note.

*	Non-income producing security.

ADR — American Depository Receipt.

PLC — Public Limited Company.


	Number of Shares		Value†
COMMON STOCKS — 96.7%
Advertising — 0.1%
Omnicom Group, Inc.		4,867	$	360,499
The Interpublic Group of Cos., Inc.		9,034		187,817

				548,316

Aerospace & Defense — 2.5%
Arconic, Inc.		7,949		197,771
General Dynamics Corp.		5,889		1,210,661
Harris Corp.		2,600		342,368
L3 Technologies, Inc.		1,600		301,488
Lockheed Martin Corp.		5,313		1,648,571
Northrop Grumman Corp.		3,692		1,062,262
Raytheon Co.		6,276		1,170,976
Rockwell Collins, Inc.		3,545		463,367
The Boeing Co.		11,821		3,005,016
TransDigm Group, Inc.		1,000		255,650
United Technologies Corp.		15,915		1,847,413

				11,505,543

Agriculture — 1.5%
Altria Group, Inc.		41,270		2,617,343
Archer-Daniels-Midland Co.		12,499		531,333
Philip Morris International, Inc.		33,337		3,700,740

				6,849,416

Airlines — 0.5%
Alaska Air Group, Inc.		2,800		213,556
American Airlines Group, Inc.		9,100		432,159
Delta Air Lines, Inc.		14,100		679,902
Southwest Airlines Co.		11,615		650,208
United Continental Holdings, Inc.*		5,400		328,752

				2,304,577

Apparel — 0.6%
Coach, Inc.		6,277		252,838
Hanesbrands, Inc.		7,600		187,264
Michael Kors Holdings Ltd.*		3,400		162,690
NIKE, Inc., Class B		28,499		1,477,673
Ralph Lauren Corp.		1,228		108,420
Under Armour, Inc., Class A*		3,900		64,272
Under Armour, Inc., Class C*		3,927		58,983
VF Corp.		6,908		439,142

				2,751,282

Auto Manufacturers — 0.6%
Ford Motor Co.		83,167		995,509
General Motors Co.		27,900		1,126,602
PACCAR, Inc.		7,644		552,967

				2,675,078

Auto Parts & Equipment — 0.2%
BorgWarner, Inc.		4,300		220,289
Delphi Automotive PLC		5,700		560,880
The Goodyear Tire & Rubber Co.		5,606		186,399

				967,568

Banks — 7.8%
Bank of America Corp.		210,111		5,324,213
BB&T Corp.		17,199		807,321
Capital One Financial Corp.		10,341		875,469


	Number of Shares		Value†

Banks — (continued)
Citigroup, Inc.		58,369	$	4,245,761
Citizens Financial Group, Inc.		10,690		404,830
Comerica, Inc.		3,844		293,144
Fifth Third Bancorp		15,946		446,169
Huntington Bancshares, Inc.		23,365		326,175
JPMorgan Chase & Co.		75,455		7,206,707
KeyCorp.		23,399		440,369
M&T Bank Corp.		3,328		535,941
Morgan Stanley		30,365		1,462,682
Northern Trust Corp.		4,647		427,199
Regions Financial Corp.		26,494		403,504
State Street Corp.		7,647		730,594
SunTrust Banks, Inc.		10,288		614,914
The Bank of New York Mellon Corp.		22,180		1,175,984
The Goldman Sachs Group, Inc.		7,643		1,812,843
The PNC Financial Services Group, Inc.		10,318		1,390,557
U.S. Bancorp		34,095		1,827,151
Wells Fargo & Co.		95,516		5,267,707
Zions Bancorporation		4,304		203,063

				36,222,297

Beverages — 2.0%
Brown-Forman Corp., Class B		3,886		211,010
Constellation Brands, Inc., Class A		3,723		742,552
Dr. Pepper Snapple Group, Inc.		4,000		353,880
Molson Coors Brewing Co., Class B		3,938		321,498
Monster Beverage Corp.*		8,504		469,846
PepsiCo, Inc.		30,623		3,412,321
The Coca-Cola Co.		82,369		3,707,429

				9,218,536

Biotechnology — 2.7%
Alexion Pharmaceuticals, Inc.*		4,900		687,421
Amgen, Inc.		15,724		2,931,740
Biogen, Inc.*		4,543		1,422,504
Celgene Corp.*		16,656		2,428,778
Gilead Sciences, Inc.		28,144		2,280,227
Illumina, Inc.*		3,100		617,520
Incyte Corp.*		3,700		431,938
Regeneron Pharmaceuticals, Inc.*		1,600		715,392
Vertex Pharmaceuticals, Inc.*		5,400		821,016

				12,336,536

Building Materials — 0.4%
Fortune Brands Home & Security, Inc.		3,200		215,136
Johnson Controls International PLC		20,398		821,835
Martin Marietta Materials, Inc.		1,400		288,722
Masco Corp.		6,777		264,371
Vulcan Materials Co.		2,841		339,784

				1,929,848

Chemicals — 2.2%
Air Products & Chemicals, Inc.		4,721		713,910
Albemarle Corp.		2,400		327,144
CF Industries Holdings, Inc.		5,300		186,348
DowDuPont, Inc.		50,110		3,469,115
Eastman Chemical Co.		2,982		269,841
Ecolab, Inc.		5,659		727,804


	Number of Shares		Value†
COMMON STOCKS — (continued)
Chemicals — (continued)
FMC Corp.		2,800	$	250,068
International Flavors & Fragrances, Inc.		1,675		239,374
LyondellBasell Industries NV, Class A		6,900		683,445
Monsanto Co.		9,336		1,118,640
PPG Industries, Inc.		5,428		589,807
Praxair, Inc.		6,026		842,073
The Mosaic Co.		7,600		164,084
The Sherwin-Williams Co.		1,734		620,841

				10,202,494

Commercial Services — 2.2%
Allegion PLC		1,966		170,000
Alliance Data Systems Corp.		1,000		221,550
Automatic Data Processing, Inc.		9,414		1,029,139
Cintas Corp.		1,801		259,848
Equifax, Inc.		2,677		283,735
Gartner, Inc.*		2,000		248,820
Global Payments, Inc.		3,281		311,793
H&R Block, Inc.		4,166		110,316
IHS Markit Ltd.*		7,000		308,560
Mastercard, Inc., Class A		20,022		2,827,106
Moody’s Corp.		3,473		483,476
Paychex, Inc.		6,975		418,221
PayPal Holdings, Inc.*		23,782		1,522,761
Quanta Services, Inc.*		3,400		127,058
Robert Half International, Inc.		2,707		136,270
S&P Global, Inc.		5,586		873,148
The Western Union Co.		9,878		189,658
Total System Services, Inc.		3,477		227,744
United Rentals, Inc.*		1,900		263,606
Verisk Analytics, Inc.*		3,300		274,527

				10,287,336

Computers — 5.5%
Accenture PLC, Class A		13,200		1,782,924
Apple, Inc.		110,728		17,065,399
Cognizant Technology Solutions Corp., Class A		12,804		928,802
CSRA, Inc.		3,357		108,330
DXC Technology Co.		5,925		508,839
Hewlett Packard Enterprise Co.		36,383		535,194
HP, Inc.		36,458		727,702
International Business Machines Corp.		18,318		2,657,576
NetApp, Inc.		5,821		254,727
Seagate Technology PLC		6,300		208,971
Western Digital Corp.		6,197		535,421

				25,313,885

Cosmetics & Personal Care — 1.5%
Colgate-Palmolive Co.		18,804		1,369,872
Coty, Inc., Class A		10,656		176,144
The Estee Lauder Cos., Inc., Class A		4,774		514,828
The Procter & Gamble Co.		54,532		4,961,321

				7,022,165

Distribution & Wholesale — 0.2%
Fastenal Co.		6,200		282,596
Genuine Parts Co.		3,205		306,558


	Number of Shares		Value†

Distribution & Wholesale — (continued)
LKQ Corp.*		6,400	$	230,336
W.W. Grainger, Inc.		1,172		210,667

				1,030,157

Diversified Financial Services — 2.9%
Affiliated Managers Group, Inc.		1,200		227,796
American Express Co.		15,621		1,413,076
Ameriprise Financial, Inc.		3,290		488,598
BlackRock, Inc.		2,599		1,161,987
CBOE Holdings, Inc.		2,000		215,260
CME Group, Inc.		7,260		985,037
Discover Financial Services		8,219		529,961
ETRADE Financial Corp.		5,881		256,470
Franklin Resources, Inc.		7,156		318,513
Intercontinental Exchange, Inc.		12,550		862,185
Invesco Ltd.		8,867		310,700
Nasdaq, Inc.		2,500		193,925
Navient Corp.		6,134		92,133
Raymond James Financial, Inc.		2,800		236,124
Synchrony Financial		16,212		503,382
T. Rowe Price Group, Inc.		5,281		478,723
The Charles Schwab Corp.		25,369		1,109,640
Visa, Inc., Class A		39,156		4,120,777

				13,504,287

Diversified Operations — 0.0%
Leucadia National Corp.		7,260		183,315

Electric — 2.8%
AES Corp.		14,644		161,377
Alliant Energy Corp.		4,717		196,086
Ameren Corp.		5,398		312,220
American Electric Power Co., Inc.		10,657		748,548
CMS Energy Corp.		6,243		289,176
Consolidated Edison, Inc.		6,605		532,891
Dominion Resources, Inc.		13,509		1,039,247
DTE Energy Co.		3,892		417,845
Duke Energy Corp.		14,918		1,251,919
Edison International		7,100		547,907
Entergy Corp.		3,847		293,757
Eversource Energy		6,793		410,569
Exelon Corp.		19,610		738,709
FirstEnergy Corp.		9,256		285,362
NextEra Energy, Inc.		9,979		1,462,422
NRG Energy, Inc.		6,300		161,217
PG&E Corp.		10,950		745,585
Pinnacle West Capital Corp.		2,369		200,323
PPL Corp.		14,698		557,789
Public Service Enterprise Group, Inc.		10,749		497,141
SCANA Corp.		3,100		150,319
The Southern Co.		21,143		1,038,967
WEC Energy Group, Inc.		6,750		423,765
Xcel Energy, Inc.		11,030		521,940

				12,985,081

Electrical Components & Equipment — 0.3%
Acuity Brands, Inc.		1,000		171,280
AMETEK, Inc.		5,000		330,200


	Number of Shares		Value†
COMMON STOCKS — (continued)
Electrical Components & Equipment — (continued)
Emerson Electric Co.		13,776	$	865,684

				1,367,164

Electronics — 1.5%
Agilent Technologies, Inc.		7,045		452,289
Amphenol Corp., Class A		6,604		558,963
FLIR Systems, Inc.		3,043		118,403
Fortive Corp.		6,505		460,489
Garmin Ltd.		2,400		129,528
Honeywell International, Inc.		16,425		2,328,079
Mettler-Toledo International, Inc.*		555		347,519
PerkinElmer, Inc.		2,516		173,529
TE Connectivity Ltd.		7,700		639,562
Thermo Fisher Scientific, Inc.		8,382		1,585,874
Waters Corp.*		1,758		315,596

				7,109,831

Engineering & Construction — 0.1%
Fluor Corp.		3,170		133,457
Jacobs Engineering Group, Inc.		2,583		150,511

				283,968

Environmental Control — 0.2%
Republic Services, Inc.		4,914		324,619
Stericycle, Inc.*		1,700		121,754
Waste Management, Inc.		8,700		680,949

				1,127,322

Food — 1.3%
Campbell Soup Co.		4,016		188,029
Conagra Brands, Inc.		8,691		293,234
General Mills, Inc.		12,210		631,990
Hormel Foods Corp.		5,600		179,984
Kellogg Co.		5,466		340,914
McCormick & Co., Inc.		2,419		248,286
Mondelez International, Inc., Class A		32,363		1,315,880
Sysco Corp.		10,352		558,490
The Hershey Co.		2,987		326,091
The J.M. Smucker Co.		2,434		255,400
The Kraft Heinz Co.		12,797		992,407
The Kroger Co.		19,710		395,383
Tyson Foods, Inc., Class A		6,249		440,242

				6,166,330

Forest Products & Paper — 0.1%
International Paper Co.		8,867		503,823

Gas — 0.2%
CenterPoint Energy, Inc.		9,322		272,296
NiSource, Inc.		7,365		188,470
Sempra Energy		5,398		616,074

				1,076,840

Hand & Machine Tools — 0.1%
Snap-on, Inc.		1,228		182,984
Stanley Black & Decker, Inc.		3,340		504,240

				687,224


	Number of Shares		Value†

Healthcare Products — 2.2%
Align Technology, Inc.*		1,600	$	298,032
Baxter International, Inc.		10,542		661,510
Becton Dickinson & Co.,		4,935		967,013
Boston Scientific Corp.*		29,548		861,915
C.R. Bard, Inc.		1,542		494,211
DENTSPLY SIRONA, Inc.		5,100		305,031
Edwards Lifesciences Corp.*		4,537		495,939
Henry Schein, Inc.*		3,400		278,766
Hologic, Inc.*		5,900		216,471
IDEXX Laboratories, Inc.*		1,900		295,431
Intuitive Surgical, Inc.*		807		844,025
Medtronic PLC		28,997		2,255,097
Patterson Cos., Inc.		1,974		76,295
ResMed, Inc.		3,100		238,576
Stryker Corp.		6,681		948,836
The Cooper Cos., Inc.		1,000		237,110
Varian Medical Systems, Inc.*		1,961		196,218
Zimmer Biomet Holdings, Inc.		4,329		506,883

				10,177,359

Healthcare Services — 2.2%
Aetna, Inc.		7,093		1,127,858
Anthem, Inc.		5,685		1,079,468
Centene Corp.*		3,700		358,049
Cigna Corp.		5,357		1,001,437
DaVita, Inc.*		3,398		201,807
Envision Healthcare Corp.*		2,623		117,904
HCA Healthcare, Inc.*		6,200		493,458
Humana, Inc.		3,110		757,689
Laboratory Corp. of America Holdings*		2,177		328,662
Quest Diagnostics, Inc.		2,987		279,703
Quintiles IMS Holdings, Inc.*		3,000		285,210
UnitedHealth Group, Inc.		20,641		4,042,540
Universal Health Services, Inc., Class B		1,955		216,888

				10,290,673

Home Builders — 0.1%
D.R. Horton, Inc.		7,376		294,524
Lennar Corp., Class A		4,236		223,661
PulteGroup, Inc.		5,834		159,443

				677,628

Home Furnishings — 0.1%
Whirlpool Corp.		1,569		289,386

Household Products & Wares — 0.4%
Avery Dennison Corp.		1,883		185,174
Church & Dwight Co., Inc.		5,200		251,940
Kimberly-Clark Corp.		7,603		894,721
The Clorox Co.		2,797		368,953

				1,700,788

Housewares — 0.1%
Newell Brands, Inc.		10,416		444,451

Insurance — 4.4%
Aflac, Inc.		8,610		700,768
American International Group, Inc.		18,685		1,147,072


	Number of Shares		Value†
COMMON STOCKS — (continued)
Insurance — (continued)
Aon PLC		5,544	$	809,978
Arthur J Gallagher & Co.		4,000		246,200
Assurant, Inc.		1,160		110,803
Berkshire Hathaway, Inc., Class B*		41,239		7,559,934
Brighthouse Financial, Inc.*		2,135		129,808
Chubb Ltd.		9,960		1,419,798
Cincinnati Financial Corp.		3,292		252,068
Everest Re Group Ltd.		900		205,551
Lincoln National Corp.		4,773		350,720
Loews Corp.		5,825		278,785
Marsh & McLennan Cos., Inc.		11,182		937,163
MetLife, Inc.		22,985		1,194,071
Principal Financial Group, Inc.		5,765		370,920
Prudential Financial, Inc.		9,230		981,334
The Allstate Corp.		7,676		705,501
The Hartford Financial Services Group, Inc.		7,927		439,394
The Progressive Corp.		12,556		607,962
The Travelers Cos, Inc.		6,031		738,918
Torchmark Corp.		2,314		185,328
Unum Group		4,976		254,423
Willis Towers Watson PLC		2,745		423,361
XL Group Ltd.		5,549		218,908

				20,268,768

Internet — 7.5%
Alphabet, Inc., Class A*		6,387		6,219,150
Alphabet, Inc., Class C*		6,503		6,237,092
Amazon.com, Inc.*		8,513		8,183,973
eBay, Inc.*		21,328		820,275
Expedia, Inc.		2,594		373,380
F5 Networks, Inc.*		1,300		156,728
Facebook, Inc., Class A*		50,800		8,680,196
Netflix, Inc.*		9,269		1,680,933
Symantec Corp.		12,738		417,934
The Priceline Group, Inc.*		1,055		1,931,515
TripAdvisor, Inc.*		2,594		105,135
VeriSign, Inc.*		1,909		203,098

				35,009,409

Iron & Steel — 0.1%
Nucor Corp.		6,735		377,429

Leisure Time — 0.3%
Carnival Corp.		8,545		551,751
Harley-Davidson, Inc.		3,828		184,548
Royal Caribbean Cruises Ltd.		3,500		414,890

				1,151,189

Lodging — 0.4%
Hilton Worldwide Holdings, Inc.		4,400		305,580
Marriott International, Inc., Class A		6,666		734,993
MGM Resorts International		10,500		342,195
Wyndham Worldwide Corp.		2,260		238,227
Wynn Resorts Ltd.		1,730		257,631

				1,878,626


	Number of Shares		Value†

Machinery—Construction & Mining — 0.3%
Caterpillar, Inc.		12,728	$	1,587,309

Machinery—Diversified — 0.6%
Cummins, Inc.		3,374		566,933
Deere & Co.		6,832		858,031
Flowserve Corp.		2,800		119,252
Rockwell Automation, Inc.		2,771		493,820
Roper Technologies, Inc.		2,200		535,480
Xylem, Inc.		3,854		241,376

				2,814,892

Media — 2.8%
CBS Corp., Class B		8,054		467,132
Charter Communications, Inc., Class A*		4,342		1,577,970
Comcast Corp., Class A		100,508		3,867,548
Discovery Communications, Inc., Class A*		3,500		74,515
Discovery Communications, Inc., Class C*		4,700		95,222
DISH Network Corp., Class A*		5,000		271,150
News Corp., Class A		7,615		100,975
News Corp., Class B		2,500		34,125
Nielsen Holdings PLC		7,400		306,730
Scripps Networks Interactive, Inc., Class A		2,056		176,590
The Walt Disney Co.		33,087		3,261,385
Time Warner, Inc.		16,687		1,709,583
Twenty-First Century Fox, Inc., Class A		22,792		601,253
Twenty-First Century Fox, Inc., Class B		9,100		234,689
Viacom, Inc., Class B		7,381		205,487

				12,984,354

Mining — 0.2%
Freeport-McMoRan, Inc.*		28,596		401,488
Newmont Mining Corp.		11,283		423,225

				824,713

Miscellaneous Manufacturing — 2.6%
3M Co.		12,780		2,682,522
A.O. Smith Corp.		3,200		190,176
Danaher Corp.		12,968		1,112,395
Dover Corp.		3,405		311,183
Eaton Corp. PLC		9,706		745,324
General Electric Co.		185,374		4,482,343
Illinois Tool Works, Inc.		6,719		994,143
Ingersoll-Rand PLC		5,500		490,435
Leggett & Platt, Inc.		2,854		136,221
Parker-Hannifin Corp.		2,881		504,233
Pentair PLC		3,619		245,947
Textron, Inc.		5,776		311,211

				12,206,133

Office & Business Equipment — 0.0%
Xerox Corp.		4,538		151,070

Oil & Gas — 4.9%
Anadarko Petroleum Corp.		12,059		589,082
Andeavor		3,194		329,461
Apache Corp.		8,157		373,591
Cabot Oil & Gas Corp.		9,788		261,829
Chesapeake Energy Corp.*		18,110		77,873


	Number of Shares		Value†
COMMON STOCKS — (continued)
Oil & Gas — (continued)
Chevron Corp.		40,679	$	4,779,782
Cimarex Energy Co.		2,100		238,707
Concho Resources, Inc.*		3,200		421,504
ConocoPhillips		25,880		1,295,294
Devon Energy Corp.		11,029		404,875
EOG Resources, Inc.		12,316		1,191,450
EQT Corp.		3,600		234,864
Exxon Mobil Corp.		90,642		7,430,831
Helmerich & Payne, Inc.		2,300		119,853
Hess Corp.		5,697		267,132
Marathon Oil Corp.		18,151		246,128
Marathon Petroleum Corp.		10,627		595,962
Newfield Exploration Co.*		4,100		121,647
Noble Energy, Inc.		9,538		270,498
Occidental Petroleum Corp.		16,386		1,052,145
Phillips 66		9,381		859,393
Pioneer Natural Resources Co.		3,700		545,898
Range Resources Corp.		3,923		76,773
Valero Energy Corp.		9,440		726,219

				22,510,791

Oil & Gas Services — 0.8%
Baker Hughes		9,428		345,253
Halliburton Co.		18,542		853,488
National Oilwell Varco, Inc.		8,483		303,098
Schlumberger Ltd.		29,915		2,086,871
TechnipFMC PLC*		9,072		253,290

				3,842,000

Packaging and Containers — 0.2%
Ball Corp.		7,252		299,508
Packaging Corp. of America		2,000		229,360
Sealed Air Corp.		4,333		185,106
WestRock Co.		5,446		308,951

				1,022,925

Pharmaceuticals — 6.4%
Abbott Laboratories		37,395		1,995,397
AbbVie, Inc.		34,003		3,021,507
Allergan PLC		7,213		1,478,304
AmerisourceBergen Corp.		3,600		297,900
Bristol-Myers Squibb Co.		34,982		2,229,753
Cardinal Health, Inc.		6,782		453,851
Eli Lilly & Co.		20,954		1,792,405
Express Scripts Holding Co.*		12,264		776,557
Johnson & Johnson		57,504		7,476,095
McKesson Corp.		4,425		679,724
Merck & Co., Inc.		58,730		3,760,482
Mylan NV*		11,556		362,512
Perrigo Co. PLC		2,700		228,555
Pfizer, Inc.		128,105		4,573,349
Zoetis, Inc.		10,707		682,678

				29,809,069

Pipelines — 0.4%
Kinder Morgan, Inc.		40,736		781,317
ONEOK, Inc.		8,300		459,903


	Number of Shares		Value†

Pipelines — (continued)
The Williams Cos., Inc.		17,934	$	538,199

				1,779,419

Real Estate — 0.1%
CBRE Group, Inc., Class A*		6,401		242,470

Retail — 5.3%
Advance Auto Parts, Inc.		1,600		158,720
AutoZone, Inc.*		606		360,637
Best Buy Co., Inc.		5,768		328,545
CarMax, Inc.*		3,967		300,738
Chipotle Mexican Grill, Inc.*		600		184,698
Costco Wholesale Corp.		9,428		1,548,926
CVS Health Corp.		21,767		1,770,092
Darden Restaurants, Inc.		2,640		207,979
Dollar General Corp.		5,300		429,565
Dollar Tree, Inc.*		5,154		447,470
Foot Locker, Inc.		2,700		95,094
Kohl’s Corp.		3,501		159,821
L Brands, Inc.		5,260		218,869
Lowe’s Cos., Inc.		17,940		1,434,124
Macy’s, Inc.		7,027		153,329
McDonald’s Corp.		17,278		2,707,117
Nordstrom, Inc.		2,331		109,907
O’Reilly Automotive, Inc.*		1,800		387,666
PVH Corp.		1,700		214,302
Ross Stores, Inc.		8,471		546,973
Signet Jewelers Ltd.		1,200		79,860
Starbucks Corp.		30,907		1,660,015
Target Corp.		12,032		710,008
The Gap, Inc.		4,382		129,401
The Home Depot, Inc.		25,246		4,129,236
The TJX Cos., Inc.		13,467		992,922
Tiffany & Co.		2,264		207,790
Tractor Supply Co.		2,600		164,554
Ulta Beauty, Inc.*		1,300		293,878
Wal-Mart Stores, Inc.		31,337		2,448,673
Walgreens Boots Alliance, Inc.		19,779		1,527,334
Yum! Brands, Inc.		7,025		517,110

				24,625,353

Savings & Loans — 0.0%
People’s United Financial, Inc.		6,500		117,910

Semiconductors — 3.7%
Advanced Micro Devices, Inc.*		17,000		216,750
Analog Devices, Inc.		7,869		678,072
Applied Materials, Inc.		22,830		1,189,215
Broadcom Ltd.		8,651		2,098,214
Intel Corp.		101,103		3,850,002
KLA-Tencor Corp.		3,427		363,262
Lam Research Corp.		3,359		621,549
Microchip Technology, Inc.		4,518		405,626
Micron Technology, Inc.*		23,897		939,869
NVIDIA Corp.		12,816		2,291,116
Qorvo, Inc.*		2,800		197,904
QUALCOMM, Inc.		31,499		1,632,908


	Number of Shares		Value†
COMMON STOCKS — (continued)
Semiconductors — (continued)
Skyworks Solutions, Inc.		4,000	$	407,600
Texas Instruments, Inc.		21,293		1,908,705
Xilinx, Inc.		5,364		379,932

				17,180,724

Software — 5.4%
Activision Blizzard, Inc.		16,200		1,045,062
Adobe Systems, Inc.*		10,558		1,575,043
Akamai Technologies, Inc.*		3,760		183,187
ANSYS, Inc.*		1,800		220,914
Autodesk, Inc.*		4,686		526,050
CA, Inc.		6,995		233,493
Cadence Design Systems, Inc.*		6,000		236,820
Cerner Corp.*		6,300		449,316
Citrix Systems, Inc.*		2,991		229,769
Electronic Arts, Inc.*		6,630		782,738
Fidelity National Information Services, Inc.		7,159		668,579
Fiserv, Inc.*		4,614		595,021
Intuit, Inc.		5,292		752,205
Microsoft Corp.		164,784		12,274,760
Oracle Corp.		64,324		3,110,065
Red Hat, Inc.*		3,900		432,354
salesforce.com, Inc.*		14,200		1,326,564
Synopsys, Inc.*		3,300		265,749

				24,907,689

Telecommunications — 3.2%
AT&T, Inc.		131,654		5,156,887
CenturyLink, Inc.		12,326		232,961
Cisco Systems, Inc.		107,012		3,598,813
Corning, Inc.		19,015		568,929
Juniper Networks, Inc.		7,971		221,833
Level 3 Communications, Inc.*		6,300		335,727
Motorola Solutions, Inc.		3,488		296,027
Verizon Communications, Inc.		87,573		4,333,988

				14,745,165

Textiles — 0.1%
Mohawk Industries, Inc.*		1,400		346,514

Toys, Games & Hobbies — 0.1%
Hasbro, Inc.		2,412		235,580
Mattel, Inc.		7,481		115,806

				351,386

Transportation — 1.7%
C.H. Robinson Worldwide, Inc.		3,139		238,878
CSX Corp.		19,641		1,065,721
Expeditors International of Washington, Inc.		3,882		232,376
FedEx Corp.		5,266		1,187,904
J.B. Hunt Transport Services, Inc.		1,800		199,944
Kansas City Southern		2,200		239,096
Norfolk Southern Corp.		6,152		813,540
Union Pacific Corp.		17,269		2,002,686
United Parcel Service, Inc., Class B		14,874		1,786,219

				7,766,364


	Number of Shares		Value†

Water — 0.1%
American Water Works Co., Inc.		3,800	$	307,458

TOTAL COMMON STOCKS (Cost $221,890,823)				448,549,633

REAL ESTATE INVESTMENT TRUSTS — 2.9%
Apartments — 0.4%
Apartment Investment & Management Co., Class A		3,162		138,685
AvalonBay Communities, Inc.		2,992		533,833
Equity Residential		7,892		520,320
Essex Property Trust, Inc.		1,400		355,642
Mid-America Apartment Communities, Inc.		2,500		267,200
UDR, Inc.		6,000		228,180

				2,043,860

Building & Real Estate — 0.1%
Realty Income Corp.		5,700		325,983

Commercial Services — 0.0%
Iron Mountain, Inc.		5,197		202,163

Diversified — 0.9%
American Tower Corp.		9,059		1,238,184
Crown Castle International Corp.		8,400		839,832
Digital Realty Trust, Inc.		4,400		520,652
Duke Realty Corp.		7,700		221,914
SBA Communications Corp.*		2,600		374,530
Vornado Realty Trust		3,787		291,145
Weyerhaeuser Co.		16,301		554,723

				4,040,980

Healthcare — 0.3%
HCP, Inc.		10,040		279,413
Ventas, Inc.		7,653		498,440
Welltower, Inc.		7,800		548,184

				1,326,037

Hotels & Resorts — 0.1%
Host Hotels & Resorts, Inc.		16,376		302,792

Industrial — 0.1%
Prologis, Inc.		11,499		729,727

Office Property — 0.2%
Alexandria Real Estate Equities, Inc.		2,000		237,940
Boston Properties, Inc.		3,242		398,377
SL Green Realty Corp.		2,300		233,036

				869,353

Regional Malls — 0.3%
GGP, Inc.		12,500		259,625
Simon Property Group, Inc.		6,696		1,078,123
The Macerich Co.		2,500		137,425

				1,475,173

Storage & Warehousing — 0.2%
Extra Space Storage, Inc.		2,800		223,776


	Number of Shares		Value†
REAL ESTATE INVESTMENT TRUSTS — (continued)
Storage & Warehousing — (continued)
Public Storage		3,216	$	688,192

				911,968

Strip Centers — 0.1%
Federal Realty Investment Trust		1,600		198,736
Kimco Realty Corp.		9,564		186,976
Regency Centers Corp.		3,199		198,466

				584,178

Telecommunications — 0.2%
Equinix, Inc.		1,635		729,700

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $9,860,934)				13,541,914


	Par (000)		Value†
U.S. TREASURY OBLIGATIONS — 0.0%
U.S. Treasury Bill¤ 1.109%, 02/01/18 (Cost $119,539)		120		119,567


	Number of Shares		Value†
SHORT-TERM INVESTMENTS — 0.4%
BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares (Cost $1,672,716)		1,672,716		1,672,716

TOTAL INVESTMENTS — 100.0% (Cost $233,544,012)			$	463,883,830

Other Assets & Liabilities — 0.0%				147,564

TOTAL NET ASSETS — 100.0%			$	464,031,394

†	See Security Valuation Note.

*	Non-income producing security.

¤	Zero Coupon Bond. The interest rate disclosed represents the effective yield from the date of acquisition to maturity.

PLC — Public Limited Company.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017		Level 1 Quoted Price		Level 2 Signi ficant Obser- vable Input		Level 3 Signi- ficant Unobser- vable Input
COMMON STOCKS	$	448,549,633	$	448,549,633	$	—	$	—
REAL ESTATE INVESTMENT TRUSTS		13,541,914		13,541,914		—		—
U.S. TREASURY OBLIGATIONS		119,567		119,567		—		—
SHORT-TERM INVESTMENTS		1,672,716		1,672,716		—		—

TOTAL INVESTMENTS	$	463,883,830	$	463,883,830	$	—	$	—

OTHER FININCIAL INSTRUMENTS(1)
Futures Contracts	$	53,411	$	53,411	$	—	$	—

TOTAL ASSETS - OTHER FINANCIAL INSTRUMENTS	$	53,411	$	53,411	$	—	$	—

(1)	Other financial instruments are derivative instruments not reflected in the value of total investments in securities in the Schedule of Investments such as futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

Futures Contracts:


Type	Futures Contract	Expiration Date		Number of Contracts		Units per Contract		Closing Price		Notional Value		Unrealized Appreciation		Unrealized Depreciation
Buy/Long	E-Mini S&P 500 Index		12/31/2017		26		50	$	2,516	$	3,270,800	$	53,411	$	—

												$	53,411	$	—

The accompanying notes are an integral part of the financial statements.


	Number of Shares		Value†
COMMON STOCKS — 98.2%
Aerospace & Defense — 1.5%
Harris Corp.		13,159	$	1,732,777

Apparel — 1.6%
Burberry Group PLC		66,008		1,556,730
Under Armour, Inc., Class C*		16,680		250,534

				1,807,264

Auto Parts & Equipment — 3.7%
BorgWarner, Inc.		55,841		2,860,734
WABCO Holdings, Inc.*		9,610		1,422,280

				4,283,014

Banks — 4.3%
First Republic Bank		22,126		2,311,282
Northern Trust Corp.		15,441		1,419,491
Signature Bank*		9,952		1,274,254

				5,005,027

Building Materials — 1.5%
Fortune Brands Home & Security, Inc.		25,254		1,697,826

Chemicals — 1.1%
Axalta Coating Systems Ltd.*		42,761		1,236,648

Commercial Services — 7.5%
Allegion PLC		16,478		1,424,853
CoStar Group, Inc.*		12,427		3,333,543
MarketAxess Holdings, Inc.		5,465		1,008,347
Square, Inc.*		46,862		1,350,094
TransUnion*		32,940		1,556,744

				8,673,581

Distribution & Wholesale — 3.3%
Fastenal Co.		82,860		3,776,759

Diversified Financial Services — 4.2%
CME Group, Inc.		22,072		2,994,729
Ellie Mae, Inc.*		10,377		852,263
Oaktree Capital Group LLC		20,566		967,630

				4,814,622

Electronics — 2.3%
Trimble, Inc.*		66,665		2,616,601

Food — 5.4%
Blue Buffalo Pet Products, Inc.*		51,995		1,474,058
Snyder’s-Lance, Inc.		34,542		1,317,432
Sprouts Farmers Market, Inc.*		61,026		1,145,458
The Hain Celestial Group, Inc.*		38,924		1,601,723
The Hershey Co.		6,503		709,932

				6,248,603

Healthcare Products — 7.9%
ABIOMED, Inc.*		3,628		611,681
Align Technology, Inc.*		9,537		1,776,457
Edwards Lifesciences Corp.*		22,476		2,456,852
Intuitive Surgical, Inc.*		4,115		4,303,796

				9,148,786


	Number of Shares		Value†

Healthcare Services — 1.5%
Laboratory Corp. of America Holdings*		11,345	$	1,712,755

Household Products & Wares — 1.0%
The Scotts Miracle-Gro Co.		12,219		1,189,397

Internet — 5.6%
GrubHub, Inc.*		50,146		2,640,689
MercadoLibre, Inc.		9,697		2,510,844
Pandora Media, Inc.*		176,953		1,362,538

				6,514,071

Leisure Time — 4.0%
Norwegian Cruise Line Holdings Ltd.*		28,563		1,543,830
Polaris Industries, Inc.		29,414		3,077,587

				4,621,417

Machinery - Diversified — 3.0%
IDEX Corp.		17,668		2,146,132
Wabtec Corp.		17,517		1,326,913

				3,473,045

Miscellaneous Manufacturing — 1.4%
A.O. Smith Corp.		27,430		1,630,165

Oil & Gas — 2.2%
Cabot Oil & Gas Corp.		48,369		1,293,871
Cimarex Energy Co.		11,575		1,315,730

				2,609,601

Pharmaceuticals — 8.1%
ACADIA Pharmaceuticals, Inc.*		49,792		1,875,664
BioMarin Pharmaceutical, Inc.*		19,341		1,800,067
Jazz Pharmaceuticals PLC*		7,839		1,146,454
Pacira Pharmaceuticals, Inc.*		16,891		634,257
Zoetis, Inc.		60,493		3,857,034

				9,313,476

Retail — 10.9%
Chipotle Mexican Grill, Inc.*		3,367		1,036,464
Duluth Holdings, Inc., Class B*		21,785		442,018
Dunkin’ Brands Group, Inc.		40,991		2,175,802
Lululemon Athletica, Inc.*		32,685		2,034,641
Tiffany & Co.		28,447		2,610,866
Tractor Supply Co.		43,126		2,729,444
Williams-Sonoma, Inc.		31,878		1,589,437

				12,618,672

Semiconductors — 3.4%
Maxim Integrated Products, Inc.		33,745		1,609,974
Microchip Technology, Inc.		25,899		2,325,212

				3,935,186

Software — 9.3%
Electronic Arts, Inc.*		28,296		3,340,626
Guidewire Software, Inc.*		19,652		1,530,105
Red Hat, Inc.*		21,067		2,335,487
ServiceNow, Inc.*		23,259		2,733,630
Tyler Technologies, Inc.*		4,619		805,184

				10,745,032


	Number of Shares		Value†
COMMON STOCKS — (continued)
Telecommunications — 1.2%
Arista Networks, Inc.*		7,109	$	1,347,938

Transportation — 2.3%
Expeditors International of Washington, Inc.		40,346		2,415,112
Kansas City Southern		2,677		290,936

				2,706,048

TOTAL COMMON STOCKS (Cost $91,561,543)				113,458,311

PURCHASED OPTIONS — 0.1%
Call Option — 0.0%
Put Options — 0.1%
TOTAL PURCHASED OPTIONS (See open purchased options schedule) (Cost $171,843)				171,050

SHORT-TERM INVESTMENTS — 2.3%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $2,644,171)		2,644,171		2,644,171

TOTAL INVESTMENTS — 100.6% (Cost $94,377,557)			$	116,273,532

Other Assets & Liabilities — (0.6)%				(727,946	)

TOTAL NET ASSETS — 100.0%			$	115,545,586

WRITTEN OPTIONS — 0.0%
Put Options — 0.0%
TOTAL WRITTEN OPTIONS (See open written options schedule) (Premiums $38,768)				(44,955	)

†	See Security Valuation Note.

*	Non-income producing security.

LLC — Limited Liability Company.

PLC — Public Limited Company.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017		Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input		Level 3 Signi- ficant Unobser- vable Input
COMMON STOCKS		113,458,311		113,458,311	$	—	$	—
PURCHASED OPTIONS		171,050		171,050		—		—
SHORT-TERM INVESTMENTS		2,644,171		2,644,171		—		—
TOTAL INVESTMENTS	$	116,273,532	$	116,273,532	$	—	$	—


LIABILITIES TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price			Level 2 Signi- ficant Obser- vable Input		Level 3 Signi- ficant Unobser- vable Input
WRITTEN OPTIONS	$	(44,955	)	$	(44,955	)	$	—	$	—
TOTAL LIABILITIES	$	(44,955	)	$	(44,955	)	$	—	$	—

It Is the Fund’s practice to recognize transfers in and transfers out at the fair value as of the beginning of period.

An amount of $1,216,464 was transferred from Level 2 into Level 1 at 9/30/17 as a result of using quoted prices in active market for such foreign securities. The Fund did not have any transfers in and transfers out of Level 3 fair value hierarchy during the reporting period.


Open Purchased Options:

Description	# of Contracts		Notional		Exercise Price		Expiration Date		Value
Kansas City Southern		13	$	149,500	$	115		12/15/2017	$	2,275
Russell 2000 Index		45		6,525,000		1,450		11/17/2017		63,450
Russell 2000 Index		383		12,256,000		320		11/17/2017		105,325

Total Purchased Options									$	171,050


Open Written Options:

Description	# of Contracts		Notional		Exercise Price		Expiration Date		Value
Kansas City Southern		13	$	130,000	$	100		12/15/2017	$	(1,755	)
Sprouts Farmers Market, Inc.		120		270,000		23		10/20/2017		(43,200	)

Total Written Options									$	(44,955	)

The accompanying notes are an integral part of the financial statements.


	Number of Shares		Value†
COMMON STOCKS — 90.7%
Aerospace & Defense — 9.4%
AerCap Holdings N.V.*		119,000	$	6,082,090
General Dynamics Corp.		29,350		6,033,773
Orbital ATK, Inc.		20,100		2,676,516
Spirit AeroSystems Holdings, Inc., Class A		25,700		1,997,404

				16,789,783

Airlines — 2.2%
American Airlines Group, Inc.		84,700		4,022,403

Banks — 5.4%
BB&T Corp.		52,200		2,450,268
Comerica, Inc.		52,600		4,011,276
State Street Corp.		32,700		3,124,158

				9,585,702

Building Materials — 2.6%
Johnson Controls International PLC		115,429		4,650,635

Chemicals — 4.2%
Ashland Global Holdings, Inc.		33,900		2,216,721
Valvoline, Inc.		222,566		5,219,173

				7,435,894

Commercial Services — 2.5%
Avis Budget Group, Inc.*		116,600		4,437,796

Computers — 6.4%
Conduent, Inc.*		168,600		2,641,962
Teradata Corp.*		110,200		3,723,658
Western Digital Corp.		58,223		5,030,467

				11,396,087

Electric — 5.1%
AES Corp.		270,700		2,983,114
Edison International		46,100		3,557,537
Flex Ltd.*		161,300		2,672,741

				9,213,392

Electronics — 1.3%
Itron, Inc.*		29,100		2,253,795

Entertainment — 2.3%
Lions Gate Entertainment Corp., Class A*		39,100		1,307,895
Lions Gate Entertainment Corp., Class B*		39,100		1,242,989
SeaWorld Entertainment, Inc.*		125,400		1,628,946

				4,179,830

Environmental Control — 2.1%
Covanta Holding Corp.		254,500		3,779,325

Food — 1.6%
TreeHouse Foods, Inc.*		42,700		2,892,071

Gas — 2.6%
CenterPoint Energy, Inc.		160,000		4,673,600

Healthcare Products — 3.3%
Zimmer Biomet Holdings, Inc.		49,900		5,842,791


	Number of Shares		Value†

Healthcare Services — 3.9%
Envision Healthcare Corp.*		56,200	$	2,526,190
Molina Healthcare, Inc.*		29,400		2,021,544
Quintiles IMS Holdings, Inc.*		26,200		2,490,834

				7,038,568

Home Furnishings — 2.1%
Whirlpool Corp.		20,300		3,744,132

Household Products & Wares — 2.1%
Avery Dennison Corp.		38,500		3,786,090

Lodging — 0.8%
Wyndham Worldwide Corp.		13,200		1,391,412

Media — 2.5%
CBS Corp., Class B		30,900		1,792,200
MSG Networks, Inc., Class A*		124,800		2,645,760

				4,437,960

Miscellaneous Manufacturing — 2.0%
Valmont Industries, Inc.		22,600		3,573,060

Oil & Gas — 2.2%
Cabot Oil & Gas Corp.		148,400		3,969,700

Pharmaceuticals — 3.3%
Perrigo Co. PLC		49,100		4,156,315
Teva Pharmaceutical Industries Ltd. ADR		96,300		1,694,880

				5,851,195

Pipelines — 3.6%
ONEOK, Inc.		67,000		3,712,470
The Williams Cos., Inc.		89,700		2,691,897

				6,404,367

Retail — 3.4%
Best Buy Co., Inc.		46,500		2,648,640
Macy’s, Inc.		111,900		2,441,658
Office Depot, Inc.		222,700		1,011,058

				6,101,356

Savings & Loans — 2.3%
BankUnited, Inc.		115,200		4,097,664

Semiconductors — 4.5%
ON Semiconductor Corp.*		259,700		4,796,659
Skyworks Solutions, Inc.		32,300		3,291,370

				8,088,029

Software — 5.0%
Check Point Software Technologies Ltd.*		49,200		5,609,784
Nuance Communications, Inc.*		213,788		3,360,747

				8,970,531

Telecommunications — 2.0%
Amdocs Ltd.		27,200		1,749,504


	Number of Shares		Value†
COMMON STOCKS — (continued)
Telecommunications — (continued)
Ciena Corp.*		80,600	$	1,770,782

				3,520,286

TOTAL COMMON STOCKS (Cost $126,700,982)				162,127,454

REAL ESTATE INVESTMENT TRUSTS — 3.4%
Apartments — 1.4%
Starwood Waypoint Homes		68,420		2,488,435

Building & Real Estate — 2.0%
Starwood Property Trust, Inc.		165,900		3,603,348

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $4,701,850)				6,091,783

RIGHTS — 0.0%
Food — 0.0%
Safeway Casa Ley CVR, 01/30/19*~		47,300		0
Safeway PDC CVR, 01/30/17*~		47,300		0

TOTAL RIGHTS (Cost $49,509)				0

SHORT-TERM INVESTMENTS — 5.8%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $10,351,167)		10,351,167		10,351,167

TOTAL INVESTMENTS — 99.9% (Cost $141,803,508)			$	178,570,404

Other Assets & Liabilities — 0.1%				138,612

TOTAL NET ASSETS — 100.0%			$	178,709,016

†	See Security Valuation Note.

*	Non-income producing security.

~	Fair valued security. The total market value of fair valued securities at September 30, 2017 is 0.

ADR — American Depository Receipt.

CVR — Contingent Valued Rights.

PLC — Public Limited Company.


	Number of Shares		Value†
COMMON STOCKS — 88.9%
Auto Manufacturers — 1.4%
Honda Motor Co. Ltd. ADR		31,578	$	933,446
PACCAR, Inc.		5,049		365,244

				1,298,690

Auto Parts & Equipment — 0.5%
Delphi Automotive PLC		4,540		446,736

Banks — 10.1%
Bank of Hawaii Corp.		7,242		603,693
BB&T Corp.		30,962		1,453,356
Comerica, Inc.		2,237		170,594
Commerce Bancshares, Inc.		13,631		787,463
M&T Bank Corp.		6,908		1,112,464
Northern Trust Corp.		30,495		2,803,406
State Street Corp.		1,969		188,118
SunTrust Banks, Inc.		12,348		738,040
The PNC Financial Services Group, Inc.		4,716		635,575
UMB Financial Corp.		4,198		312,709
Westamerica Bancorporation		15,780		939,541

				9,744,959

Building Materials — 2.9%
Johnson Controls International PLC		68,673		2,766,835

Diversified Financial Services — 3.5%
Ameriprise Financial, Inc.		8,689		1,290,404
Invesco Ltd.		46,570		1,631,813
T. Rowe Price Group, Inc.		5,119		464,037

				3,386,254

Electric — 7.3%
Ameren Corp.		12,396		716,985
Edison International		17,521		1,352,095
Eversource Energy		7,139		431,481
NorthWestern Corp.		10,783		613,984
PG&E Corp.		21,551		1,467,408
Pinnacle West Capital Corp.		8,295		701,425
Westar Energy, Inc.		5,375		266,600
Xcel Energy, Inc.		30,115		1,425,042

				6,975,020

Electrical Components & Equipment — 2.6%
Emerson Electric Co.		19,289		1,212,121
Hubbell, Inc.		10,807		1,253,828

				2,465,949

Electronics — 2.7%
Keysight Technologies, Inc.*		28,147		1,172,604
Koninklijke Philips N.V.		11,629		480,086
TE Connectivity Ltd.		11,594		962,998

				2,615,688

Environmental Control — 0.7%
Republic Services, Inc.		10,805		713,778

Food — 8.5%
Conagra Brands, Inc.		49,895		1,683,457
General Mills, Inc.		24,987		1,293,327
Kellogg Co.		17,863		1,114,116


	Number of Shares		Value†

Food — (continued)
Lamb Weston Holdings, Inc.		6,570	$	308,067
Mondelez International, Inc., Class A		35,685		1,450,952
Orkla ASA		42,190		432,786
Sysco Corp.		20,539		1,108,079
The J.M. Smucker Co.		7,063		741,121

				8,131,905

Gas — 1.5%
Atmos Energy Corp.		7,384		619,074
Spire, Inc.		10,618		792,634

				1,411,708

Healthcare Products — 2.8%
STERIS PLC		6,885		608,634
Zimmer Biomet Holdings, Inc.		18,136		2,123,544

				2,732,178

Healthcare Services — 2.9%
HCA Healthcare, Inc.*		12,003		955,319
LifePoint Health, Inc.*		20,205		1,169,869
Quest Diagnostics, Inc.		6,564		614,653

				2,739,841

Home Builders — 0.9%
PulteGroup, Inc.		32,021		875,134

Insurance — 5.3%
Aflac, Inc.		6,781		551,906
Arthur J Gallagher & Co.		10,681		657,415
Brown & Brown, Inc.		9,326		449,420
Chubb Ltd.		8,903		1,269,123
ProAssurance Corp.		7,584		414,466
Reinsurance Group of America, Inc.		5,507		768,392
The Travelers Cos, Inc.		1,972		241,609
Torchmark Corp.		3,695		295,932
Unum Group		9,398		480,520

				5,128,783

Leisure Time — 0.4%
Carnival Corp.		5,475		353,521

Machinery—Diversified — 0.9%
Cummins, Inc.		4,023		675,985
Rockwell Automation, Inc.		885		157,716

				833,701

Miscellaneous Manufacturing — 3.2%
Eaton Corp. PLC		9,288		713,225
Ingersoll-Rand PLC		10,682		952,514
Parker-Hannifin Corp.		1,850		323,787
Textron, Inc.		19,776		1,065,531

				3,055,057

Oil & Gas — 9.3%
Anadarko Petroleum Corp.		19,734		964,006
Devon Energy Corp.		22,599		829,609
EQT Corp.		20,111		1,312,042
Helmerich & Payne, Inc.		11,667		607,968
Imperial Oil Ltd.		57,156		1,825,877


	Number of Shares		Value†
COMMON STOCKS — (continued)
Oil & Gas — (continued)
Marathon Petroleum Corp.		15,291	$	857,519
Noble Energy, Inc.		42,749		1,212,362
Occidental Petroleum Corp.		20,011		1,284,906

				8,894,289

Oil & Gas Services — 2.9%
Baker Hughes		29,982		1,097,941
Halliburton Co.		11,354		522,625
National Oilwell Varco, Inc.		33,907		1,211,497

				2,832,063

Packaging and Containers — 4.0%
Bemis Co., Inc.		14,246		649,190
Graphic Packaging Holding Co.		82,679		1,153,372
Sonoco Products Co.		18,230		919,703
WestRock Co.		20,279		1,150,428

				3,872,693

Pharmaceuticals — 2.8%
Cardinal Health, Inc.		15,763		1,054,860
Express Scripts Holding Co.*		13,178		834,431
McKesson Corp.		5,190		797,236

				2,686,527

Pipelines — 0.5%
Spectra Energy Partners LP		10,272		455,871

Retail — 2.7%
Advance Auto Parts, Inc.		10,701		1,061,539
MSC Industrial Direct Co., Inc.,Class A		10,682		807,239
Target Corp.		11,810		696,908

				2,565,686

Savings & Loans — 0.9%
Capitol Federal Financial, Inc.		61,255		900,448

Semiconductors — 4.8%
Applied Materials, Inc.		25,812		1,344,547
Lam Research Corp.		5,117		946,850
Maxim Integrated Products, Inc.		28,990		1,383,113
Teradyne, Inc.		25,884		965,214

				4,639,724

Telecommunications — 1.3%
Level 3 Communications, Inc.*		22,845		1,217,410

Toys, Games & Hobbies — 0.5%
Mattel, Inc.		31,977		495,004

Transportation — 1.1%
Heartland Express, Inc.		41,448		1,039,516

TOTAL COMMON STOCKS (Cost $75,150,011)				85,274,968

REAL ESTATE INVESTMENT TRUSTS — 5.4%
Diversified — 3.1%
American Tower Corp.		6,530		892,521


	Number of Shares		Value†

Diversified — (continued)
Weyerhaeuser Co.		62,141	$	2,114,658

				3,007,179

Hotels & Resorts — 0.6%
MGM Growth Properties LLC, Class A		19,024		574,715

Office Property — 1.7%
Boston Properties, Inc.		4,309		529,490
Empire State Realty Trust, Inc., Class A		15,462		317,589
Piedmont Office Realty Trust, Inc., Class A		37,107		748,077

				1,595,156

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $4,584,272)				5,177,050

EXCHANGE TRADED FUNDS — 2.7%
Investment Companies — 2.7%
iShares Russell Mid-Cap Value Index Fund (Cost $2,461,366)		30,650		2,603,105

SHORT-TERM INVESTMENTS — 2.7%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $2,606,937)		2,606,937		2,606,937

TOTAL INVESTMENTS — 99.7% (Cost $84,802,586)			$	95,662,060

Other Assets & Liabilities — 0.3%				317,856

TOTAL NET ASSETS — 100.0%			$	95,979,916

†	See Security Valuation Note.

*	Non-income producing security.

ADR — American Depository Receipt.

LLC — Limited Liability Company.

LP — Limited Partnership.

PLC — Public Limited Company.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input			Level 3 Signi- ficant Unobser- vable Input
COMMON STOCKS	$	85,274,968		$	85,274,968	$	—		$	—
REAL ESTATE INVESTMENT TRUSTS		5,177,050			5,177,050		—			—
EXCHANGE TRADED FUNDS		2,603,105			2,603,105		—			—
SHORT-TERM INVESTMENTS		2,606,937			2,606,937		—			—

TOTAL INVESTMENTS	$	95,662,060		$	95,662,060	$	—		$	—

OTHER FININCIAL INSTRUMENTS(1)
Forward Foreign Currency Contracts	$	21,176		$	—	$	21,176		$	—

TOTAL ASSETS - OTHER FINANCIAL INSTRUMENTS	$	21,176		$	—	$	21,176		$	—


LIABILITIES TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input			Level 3 Signi- ficant Unobser- vable Input
OTHER FINANCIAL INSTRUMENTS(1)
Forward Foreign Currency Contracts	$	(1,059	)	$	—	$	(1,059	)	$	—

TOTAL LIABILITIES - OTHER FINANCIAL INSTRUMENTS	$	(1,059	)	$	—	$	(1,059	)	$	—

(1)	Other financial instruments are derivative instruments not reflected in the value of total investments in securities in the Schedule of Investments such as forward foreign currency contracts which are valued at the unrealized appreciation (depreciation) on the instrument.


	Number of Shares		Value†
COMMON STOCKS — 93.9%
Aerospace & Defense — 1.3%
L3 Technologies, Inc.		4,298	$	809,872

Auto Parts & Equipment — 1.2%
WABCO Holdings, Inc.*		5,279		781,292

Banks — 3.8%
Eagle Bancorp, Inc.*		18,738		1,256,383
First Republic Bank		10,626		1,109,992

				2,366,375

Beverages — 1.3%
MGP Ingredients, Inc.		13,938		845,061

Biotechnology — 2.8%
Acceleron Pharma, Inc.*		9,569		357,115
Alder Biopharmaceuticals, Inc.*		21,714		265,997
Exelixis, Inc.*		28,495		690,434
Ultragenyx Pharmaceutical, Inc.*		8,112		432,045

				1,745,591

Building Materials — 2.0%
Fortune Brands Home & Security, Inc.		12,055		810,458
Summit Materials, Inc., Class A*		13,721		439,483

				1,249,941

Chemicals — 3.1%
Ashland Global Holdings, Inc.		6,764		442,298
RPM International, Inc.		14,489		743,865
Valvoline, Inc.		31,124		729,858

				1,916,021

Commercial Services — 6.3%
Bright Horizons Family Solutions, Inc.*		8,574		739,165
Gartner, Inc.*		2,835		352,702
Global Payments, Inc.		11,806		1,121,924
Healthcare Services Group, Inc.		18,920		1,021,112
Total System Services, Inc.		11,230		735,565

				3,970,468

Computers — 1.8%
Electronics For Imaging, Inc.*		21,448		915,401
Kornit Digital Ltd.*		13,678		209,273

				1,124,674

Diversified Financial Services — 4.9%
Affiliated Managers Group, Inc.		5,724		1,086,587
Lazard Ltd., Class A		24,803		1,121,592
SLM Corp.*		74,445		853,884

				3,062,063

Electrical Components & Equipment — 1.0%
Hubbell, Inc.		5,640		654,353

Electronics — 5.5%
Badger Meter, Inc.		15,284		748,916
Mettler-Toledo International, Inc.*		1,063		665,608
PerkinElmer, Inc.		14,447		996,410
Sensata Technologies Holding NV*		22,158		1,065,135

				3,476,069


	Number of Shares		Value†

Entertainment — 1.0%
Vail Resorts, Inc.		2,725	$	621,627

Food — 1.8%
Blue Buffalo Pet Products, Inc.*		25,098		711,528
Snyder’s-Lance, Inc.		11,757		448,412

				1,159,940

Healthcare Products — 5.8%
ABIOMED, Inc.*		5,347		901,504
ICU Medical, Inc.*		2,962		550,488
IDEXX Laboratories, Inc.*		1,101		171,194
Nevro Corp.*		8,795		799,290
The Cooper Cos., Inc.		1,894		449,086
West Pharmaceutical Services, Inc.		7,988		768,925

				3,640,487

Healthcare Services — 2.2%
Acadia Healthcare Co., Inc.*		14,207		678,526
WellCare Health Plans, Inc.*		3,917		672,706

				1,351,232

Home Builders — 0.9%
M/I Homes, Inc.*		21,071		563,228

Household Products & Wares — 1.5%
Avery Dennison Corp.		9,862		969,829

Internet — 2.0%
GoDaddy, Inc., Class A*		22,640		985,067
Wix.com Ltd.*		3,378		242,709

				1,227,776

Machinery—Diversified — 9.4%
Cognex Corp.		4,073		449,171
Graco, Inc.		2,809		347,445
IDEX Corp.		5,790		703,311
Tennant Co.		8,376		554,491
The Gorman-Rupp Co.		13,282		432,595
The Middleby Corp.*		13,271		1,700,944
Welbilt, Inc.*		16,239		374,309
Xylem, Inc.		21,421		1,341,597

				5,903,863

Miscellaneous Manufacturing — 1.6%
John Bean Technologies Corp.		9,816		992,398

Oil & Gas — 1.5%
Diamondback Energy, Inc.*		9,777		957,755

Pharmaceuticals — 7.5%
ACADIA Pharmaceuticals, Inc.*		18,648		702,470
Agios Pharmaceuticals, Inc.*		10,817		722,035
Alkermes PLC*		15,502		788,122
Galapagos NV ADR*		3,064		311,762
Neogen Corp.*		4,444		344,232
Neurocrine Biosciences, Inc.*		12,870		788,673
PRA Health Sciences, Inc.*		4,168		317,476
Sarepta Therapeutics, Inc.*		3,210		145,606


	Number of Shares		Value†
COMMON STOCKS — (continued)
Pharmaceuticals — (continued)
TESARO, Inc.*		4,647	$	599,928

				4,720,304

Real Estate — 0.9%
HFF, Inc., Class A		13,643		539,717

Retail — 7.6%
Burlington Stores, Inc.*		7,315		698,290
Dunkin’ Brands Group, Inc.		21,982		1,166,805
Five Below, Inc.*		12,022		659,767
PVH Corp.		6,001		756,486
Shake Shack, Inc., Class A*		6,810		226,296
Tractor Supply Co.		4,608		291,640
Ulta Beauty, Inc.*		1,258		284,383
Wingstop, Inc.		21,438		712,814

				4,796,481

Semiconductors — 3.7%
Advanced Micro Devices, Inc.*		24,146		307,862
Cavium, Inc.*		8,785		579,283
Monolithic Power Systems, Inc.		4,310		459,230
Qorvo, Inc.*		4,300		303,924
Xilinx, Inc.		9,547		676,214

				2,326,513

Software — 11.5%
athenahealth, Inc.*		3,380		420,337
Black Knight Financial Services, Inc., Class A*		31,088		1,338,338
Evolent Health, Inc., Class A*		24,200		430,760
InterXion Holding NV*		17,518		892,192
MSCI, Inc.		4,314		504,307
Red Hat, Inc.*		3,442		381,580
ServiceNow, Inc.*		5,694		669,216
Splunk, Inc.*		9,386		623,512
Tableau Software, Inc., Class A*		2,361		176,815
The Ultimate Software Group, Inc.*		3,613		685,025
Tyler Technologies, Inc.*		6,113		1,065,618

				7,187,700

TOTAL COMMON STOCKS (Cost $50,708,181)				58,960,630

REAL ESTATE INVESTMENT TRUSTS — 0.7%
Diversified — 0.7%
SBA Communications Corp.* (Cost $291,183)		2,929		421,923


	Number of Shares		Value†
COMMON STOCKS — 94.4%
Aerospace & Defense — 1.0%
Esterline Technologies Corp.*		8,770	$	790,616

Airlines — 1.4%
SkyWest, Inc.		25,300		1,110,670

Apparel — 0.8%
Crocs, Inc.*		68,670		666,099

Auto Manufacturers — 1.5%
Oshkosh Corp.		15,030		1,240,576

Auto Parts & Equipment — 3.9%
Cooper-Standard Holding, Inc.*		8,453		980,294
Dana, Inc.		39,930		1,116,443
Lear Corp.		3,283		568,222
Tenneco, Inc.		8,220		498,707

				3,163,666

Banks — 10.5%
Associated Banc-Corp.		36,210		878,092
Comerica, Inc.		17,205		1,312,053
Fulton Financial Corp.		44,700		838,125
Huntington Bancshares, Inc.		87,630		1,223,315
Synovus Financial Corp.		22,130		1,019,308
Texas Capital Bancshares, Inc.*		10,140		870,012
Webster Financial Corp.		20,098		1,056,150
Zions Bancorporation		27,710		1,307,358

				8,504,413

Beverages — 0.9%
Cott Corp.		46,611		699,631

Chemicals — 0.6%
Ingevity Corp.*		8,349		521,562

Commercial Services — 4.6%
ABM Industries, Inc.		13,420		559,748
Booz Allen Hamilton Holding Corp.		31,455		1,176,103
Quanta Services, Inc.*		25,951		969,789
Sotheby’s*		22,495		1,037,244

				3,742,884

Computers — 5.0%
Convergys Corp.		33,393		864,545
Genpact Ltd.		37,150		1,068,062
NCR Corp.*		28,476		1,068,420
VeriFone Systems, Inc.*		53,450		1,083,966

				4,084,993

Diversified Financial Services — 0.6%
OneMain Holdings, Inc.*		18,160		511,930

Electric — 3.6%
Alliant Energy Corp.		19,804		823,253
Black Hills Corp.		6,968		479,886
PNM Resources, Inc.		19,920		802,776
Portland General Electric Co.		18,430		841,145

				2,947,060


	Number of Shares		Value†

Electrical Components & Equipment — 1.0%
EnerSys		12,277	$	849,200

Electronics — 1.1%
Avnet, Inc.		23,060		906,258

Engineering & Construction — 2.9%
AECOM*		29,444		1,083,834
Granite Construction, Inc.		11,330		656,573
Tutor Perini Corp.*		21,350		606,340

				2,346,747

Entertainment — 1.0%
Regal Entertainment Group, Class A		48,740		779,840

Food — 0.7%
Ingredion, Inc.		4,700		567,008

Gas — 0.6%
Southwest Gas Holdings, Inc.		5,950		461,839

Hand & Machine Tools — 1.2%
Regal Beloit Corp.		11,960		944,840

Healthcare Services — 4.6%
ICON PLC*		9,780		1,113,746
LifePoint Health, Inc.*		17,550		1,016,145
Molina Healthcare, Inc.*		13,060		898,006
WellCare Health Plans, Inc.*		4,357		748,271

				3,776,168

Home Builders — 2.1%
CalAtlantic Group, Inc.		28,530		1,045,054
PulteGroup, Inc.		24,050		657,286

				1,702,340

Insurance — 8.9%
American Financial Group, Inc.		11,654		1,205,606
Essent Group Ltd.*		27,934		1,131,327
First American Financial Corp.		20,630		1,030,881
Old Republic International Corp.		41,910		825,208
Reinsurance Group of America, Inc.		9,970		1,391,114
Selective Insurance Group, Inc.		13,190		710,282
The Hanover Insurance Group, Inc.		4,900		474,957
Validus Holdings Ltd.		10,390		511,292

				7,280,667

Internet — 1.3%
CDW Corp.		15,770		1,040,820

Machinery—Construction & Mining — 1.5%
Terex Corp.		26,270		1,182,675

Machinery—Diversified — 1.2%
SPX FLOW, Inc.*		24,950		962,072

Media — 1.4%
Houghton Mifflin Harcourt Co.*		45,870		552,734


	Number of Shares		Value†
COMMON STOCKS — (continued)
Media — (continued)
Scholastic Corp.		14,840	$	552,048

				1,104,782

Mining — 1.0%
Alcoa Corp.*		18,080		842,890

Miscellaneous Manufacturing — 1.3%
Trinseo SA		15,630		1,048,773

Office Furnishings — 1.0%
Steelcase, Inc., Class A		50,742		781,427

Oil & Gas — 3.3%
Helmerich & Payne, Inc.		8,720		454,399
Oasis Petroleum, Inc.*		81,180		740,362
QEP Resources, Inc.*		92,030		788,697
SM Energy Co.		41,090		728,937

				2,712,395

Oil & Gas Services — 5.5%
Helix Energy Solutions Group, Inc.*		31,070		229,607
HollyFrontier Corp.		21,510		773,715
MRC Global, Inc.*		34,310		600,082
Oil States International, Inc.*		24,960		632,736
RPC, Inc.		55,720		1,381,299
SRC Energy, Inc.*		89,450		864,981

				4,482,420

Packaging and Containers — 1.5%
Graphic Packaging Holding Co.		86,240		1,203,048

Retail — 4.5%
Bloomin’ Brands, Inc.		52,400		922,240
Brinker International, Inc.		18,145		578,100
Burlington Stores, Inc.*		5,785		552,236
Caleres, Inc.		21,998		671,379
The Michaels Cos, Inc.*		45,510		977,099

				3,701,054

Semiconductors — 3.4%
Cypress Semiconductor Corp.		65,160		978,703
Integrated Device Technology, Inc.*		26,110		694,004
Mellanox Technologies Ltd.*		11,140		525,251
Qorvo, Inc.*		8,454		597,529

				2,795,487

Software — 1.2%
Verint Systems, Inc.*		24,165		1,011,305

Telecommunications — 4.3%
Amdocs Ltd.		17,875		1,149,720
Anixter International, Inc.*		13,630		1,158,550
Infinera Corp.*		55,190		489,535
NETGEAR, Inc.*		14,915		709,954

				3,507,759

Transportation — 3.5%
Atlas Air Worldwide Holdings, Inc.*		12,230		804,734
Ryder System, Inc.		13,320		1,126,206


	Number of Shares		Value†

Transportation — (continued)
Werner Enterprises, Inc.		25,460	$	930,563

				2,861,503

TOTAL COMMON STOCKS (Cost $61,642,655)				76,837,417

REAL ESTATE INVESTMENT TRUSTS — 4.7%
Apartments — 1.2%
Education Realty Trust, Inc.		27,140		975,140

Diversified — 0.8%
STAG lndustrial, Inc.		23,150		635,931

Industrial — 1.6%
Gramercy Property Trust		44,162		1,335,901

Office Property — 1.1%
Empire State Realty Trust, Inc., Class A		42,273		868,287

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $3,783,940)				3,815,259

SHORT-TERM INVESTMENTS — 2.3%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $1,874,005)		1,874,005		1,874,005

TOTAL INVESTMENTS — 101.4% (Cost $67,300,600)			$	82,526,681

Other Assets & Liabilities — (1.4)%				(1,135,381	)

TOTAL NET ASSETS — 100.0%			$	81,391,300

†	See Security Valuation Note.

*	Non-income producing security.

PLC — Public Limited Company.


	Number of Shares		Value†
COMMON STOCKS — 96.7%
Advertising — 0.3%
Yext, Inc.*		19,425	$	257,964

Aerospace & Defense — 2.2%
HEICO Corp., Class A		28,844		2,197,913

Apparel — 0.8%
Carter’s, Inc.		7,850		775,187

Auto Parts & Equipment — 0.8%
Visteon Corp.*		6,129		758,586

Banks — 2.0%
Kearny Financial Corp.		39,534		606,847
SVB Financial Group*		3,741		699,904
Texas Capital Bancshares, Inc.*		8,368		717,974

				2,024,725

Biotechnology — 3.3%
Insmed, Inc.*		17,673		551,574
Ligand Pharmaceuticals, Inc.*		6,736		917,107
NeoGenomics, Inc.*		62,314		693,555
Puma Biotechnology, Inc.*		7,703		922,434
Spark Therapeutics, Inc.*		2,383		212,468

				3,297,138

Building Materials — 1.6%
Summit Materials, Inc., Class A*		28,617		916,603
Trex Co., Inc.*		8,017		722,091

				1,638,694

Chemicals — 3.4%
CSW Industrials, Inc.*		23,710		1,051,538
H.B. Fuller Co.		12,130		704,268
Sensient Technologies Corp.		21,568		1,659,011

				3,414,817

Commercial Services — 12.5%
Alarm.com Holdings, Inc.*		13,843		625,427
CoStar Group, Inc.*		3,920		1,051,540
Euronet Worldwide, Inc.*		20,131		1,908,217
Gartner, Inc.*		8,787		1,093,191
Healthcare Services Group, Inc.		12,013		648,342
HealthEquity, Inc.*		12,774		646,109
K12, Inc.*		21,644		386,129
MarketAxess Holdings, Inc.		5,170		953,917
MAXIMUS, Inc.		15,153		977,368
Rollins, Inc.		9,525		439,483
ServiceMaster Global Holdings, Inc.*		43,520		2,033,690
SP Plus Corp.*		10,950		432,525
The Advisory Board Co.*		9,174		491,956
WEX, Inc.*		7,347		824,480

				12,512,374

Computers — 1.6%
Jack Henry & Associates, Inc.		13,230		1,359,912
Kornit Digital Ltd.*		13,811		211,308

				1,571,220


	Number of Shares		Value†

Diversified Financial Services — 3.1%
Financial Engines, Inc.		23,966	$	832,818
LPL Financial Holdings, Inc.		25,933		1,337,365
SLM Corp.*		44,711		512,835
WisdomTree Investments, Inc.		38,160		388,469

				3,071,487

Electrical Components & Equipment — 2.7%
Belden, Inc.		23,220		1,869,907
EnerSys		11,813		817,105

				2,687,012

Electronics — 3.1%
CTS Corp.		33,276		801,952
National Instruments Corp.		15,914		671,093
OSI Systems, Inc.*		9,448		863,264
Sensata Technologies Holding NV*		14,877		715,137

				3,051,446

Energy-Alternate Sources — 0.3%
SolarEdge Technologies, Inc.*		8,944		255,351

Entertainment — 1.9%
AMC Entertainment Holdings, Inc., Class A		28,533		419,435
Cedar Fair LP		13,805		885,177
Manchester United PLC, Class A		32,130		578,340

				1,882,952

Environmental Control — 0.5%
Clean Harbors, Inc.*		8,927		506,161

Food — 0.3%
Amplify Snack Brands, Inc.*		35,275		250,100

Forest Products & Paper — 0.4%
Neenah Paper, Inc.		4,901		419,280

Hand & Machine Tools — 0.8%
Kennametal, Inc.		19,059		768,840

Healthcare Products — 6.4%
AngioDynamics, Inc.*		32,483		555,134
Bio-Techne Corp.		8,013		968,692
Glaukos Corp.*		15,010		495,330
Globus Medical, Inc., Class A*		19,358		575,320
ICU Medical, Inc.*		5,450		1,012,883
Merit Medical Systems, Inc.*		14,104		597,304
Nevro Corp.*		4,663		423,773
STERIS PLC		19,602		1,732,817

				6,361,253

Healthcare Services — 1.9%
Catalent, Inc.*		48,586		1,939,553

Home Furnishings — 0.4%
Roku, Inc.*		13,928		369,649

Hotels & Resorts — 0.4%
Playa Hotels & Resorts NV*		36,390		379,548


	Number of Shares		Value†
COMMON STOCKS — (continued)
Household Products & Wares — 1.0%
Ontex Group NV		30,563	$	1,040,861

Insurance — 0.6%
RLI Corp.		11,306		648,512

Internet — 2.7%
ChannelAdvisor Corp.*		27,144		312,156
MakeMyTrip Ltd.*		16,676		479,435
The Trade Desk Inc., Class A*		13,082		804,674
Zendesk, Inc.*		16,395		477,258
Zillow Group, Inc., Class A*		16,070		645,211

				2,718,734

Machinery—Diversified — 1.7%
Nordson Corp.		8,579		1,016,611
Wabtec Corp.		8,414		637,361

				1,653,972

Metal Fabricate/Hardware — 1.3%
Rexnord Corp.*		50,782		1,290,370

Miscellaneous Manufacturing — 3.4%
Hillenbrand, Inc.		26,509		1,029,875
ITT, Inc.		18,637		825,060
Proto Labs, Inc.*		7,127		572,298
Standex International Corp.		8,625		915,975

				3,343,208

Pharmaceuticals — 6.6%
ACADIA Pharmaceuticals, Inc.*		19,663		740,705
Amicus Therapeutics, Inc.*		27,750		418,470
DBV Technologies SA ADR*		13,870		588,643
Diplomat Pharmacy, Inc.*		19,795		409,954
Eagle Pharmaceuticals, Inc.*		10,976		654,609
GW Pharmaceuticals PLC ADR*		3,615		366,886
Heron Therapeutics, Inc.*		26,886		434,209
Ironwood Pharmaceuticals, Inc.*		41,173		649,298
Knight Therapeutics, Inc.*		66,568		461,481
Neurocrine Biosciences, Inc.*		9,227		565,431
Prestige Brands Holdings, Inc.*		19,245		963,982
Teligent, Inc.*		53,370		358,113

				6,611,781

Publishing / Newspapers — 0.8%
Cimpress NV*		8,436		823,860

Real Estate — 0.9%
Jones Lang LaSalle, Inc.		4,721		583,044
The St. Joe Co.*		19,337		364,502

				947,546

Retail — 4.1%
Biglari Holdings, Inc.*		2,905		968,207
Casey’s General Stores, Inc.		4,588		502,157
Dunkin’ Brands Group, Inc.		11,852		629,104
Sally Beauty Holdings, Inc.*		43,979		861,109
Texas Roadhouse, Inc.		12,600		619,164


	Number of Shares		Value†

Retail — (continued)
Williams-Sonoma, Inc.		9,760	$	486,634

				4,066,375

Semiconductors — 2.5%
ON Semiconductor Corp.*		100,947		1,864,491
Xperi Corp.		25,229		638,294

				2,502,785

Software — 16.3%
ACI Worldwide, Inc.*		20,126		458,470
athenahealth, Inc.*		5,378		668,808
Blackbaud, Inc.		23,286		2,044,511
Broadridge Financial Solutions, Inc.		27,726		2,240,815
Cadence Design Systems, Inc.*		56,873		2,244,777
Callidus Software, Inc.*		25,966		640,062
Cision Ltd.*		60,576		788,700
Envestnet, Inc.*		24,811		1,265,361
Guidewire Software, Inc.*		11,394		887,137
Instructure, Inc.*		19,385		642,613
RealPage, Inc.*		20,827		830,997
SPS Commerce, Inc.*		7,713		437,404
SS&C Technologies Holdings, Inc.		55,381		2,223,547
The Descartes Systems Group, Inc.*		33,005		900,149

				16,273,351

Telecommunications — 2.2%
Nice Ltd. ADR		26,828		2,181,385

Transportation — 1.9%
Landstar System, Inc.		8,016		798,794
Old Dominion Freight Line, Inc.		10,169		1,119,709

				1,918,503

TOTAL COMMON STOCKS (Cost $67,784,799)				96,412,493

REAL ESTATE INVESTMENT TRUSTS — 0.9%
Diversified — 0.9%
Lamar Advertising Co., Class A (Cost $709,142)		12,840		879,925

RIGHTS — 0.1%
Pharmaceuticals — 0.1%
Dyax Corp. CVR~,† (Cost $0)*		36,639		89,765

SHORT-TERM INVESTMENTS — 3.4%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $3,445,735)		3,445,735		3,445,735

TOTAL INVESTMENTS — 101.1% (Cost $71,939,676)			$	100,827,918

Other Assets & Liabilities — (1.1)%				(1,122,741	)

TOTAL NET ASSETS — 100.0%			$	99,705,177


	Number of Shares		Value†
COMMON STOCKS — 88.7%
Aerospace & Defense — 2.5%
Curtiss-Wright Corp.		7,522	$	786,350
Esterline Technologies Corp.*		16,216		1,461,872
Kaman Corp.		15,584		869,276
KLX, Inc.*		33,855		1,791,945
Moog, Inc., Class A*		17,840		1,488,391

				6,397,834

Airlines — 0.6%
SkyWest, Inc.		32,693		1,435,223

Apparel — 0.5%
Columbia Sportswear Co.		6,503		400,455
Wolverine World Wide, Inc.		30,640		883,964

				1,284,419

Auto Parts & Equipment — 1.0%
American Axle & Manufacturing Holdings, Inc.*		35,736		628,239
Dana, Inc.		60,002		1,677,656
Standard Motor Products, Inc.		6,904		333,118

				2,639,013

Banks — 18.6%
Ameris Bancorp		23,857		1,145,136
BancorpSouth, Inc.		36,998		1,185,786
Banner Corp.		33,359		2,044,240
Boston Private Financial Holdings, Inc.		60,352		998,826
Bryn Mawr Bank Corp.		8,687		380,491
CenterState Bank Corp.		58,079		1,556,517
CoBiz Financial, Inc.		43,491		854,163
Columbia Banking System, Inc.		49,196		2,071,644
Community Bank System, Inc.		24,275		1,341,194
ConnectOne Bancorp, Inc.		33,925		834,555
CU Bancorp*		9,980		386,975
CVB Financial Corp.		83,408		2,015,971
First Financial Bankshares, Inc.		33,553		1,516,596
First Merchants Corp.		36,103		1,549,902
First Midwest Bancorp, Inc.		51,636		1,209,315
Glacier Bancorp, Inc.		44,016		1,662,044
Great Western Bancorp, Inc.		46,078		1,902,100
Guaranty Bancorp		20,573		571,929
Heritage Financial Corp.		23,425		691,037
Home BancShares, Inc.		41,938		1,057,676
Independent Bank Corp.		20,609		1,538,462
Independent Bank Group, Inc.		17,179		1,035,894
Lakeland Financial Corp.		21,434		1,044,264
LegacyTexas Financial Group, Inc.		51,613		2,060,391
MB Financial, Inc.		46,692		2,102,074
National Commerce Corp.*		9,164		392,219
Pinnacle Financial Partners, Inc.		39,294		2,630,733
Prosperity Bancshares, Inc.		15,931		1,047,145
Renasant Corp.		40,490		1,737,021
Sandy Spring Bancorp, Inc.		15,509		642,693
South State Corp.		21,289		1,917,074
State Bank Financial Corp.		29,118		834,231
Texas Capital Bancshares, Inc.*		22,848		1,960,358
The First of Long Island Corp.		17,618		536,468
Towne Bank		11,910		398,985


	Number of Shares		Value†

Banks — (continued)
TriCo Bancshares		15,851	$	645,928
Webster Financial Corp.		42,107		2,212,723

				47,712,760

Building Materials — 1.6%
Eagle Materials, Inc.		14,308		1,526,664
Gibraltar Industries, Inc.*		30,021		935,154
Patrick Industries, Inc.*		9,275		780,027
Summit Materials, Inc., Class A*		29,760		953,213

				4,195,058

Chemicals — 2.6%
Minerals Technologies, Inc.		20,838		1,472,205
Olin Corp.		25,924		887,897
Quaker Chemical Corp.		5,399		798,782
Tronox Ltd., Class A		89,863		1,896,109
Univar, Inc.*		52,704		1,524,727

				6,579,720

Coal — 0.3%
CONSOL Energy, Inc.*		51,822		877,865

Commercial Services — 3.6%
Aaron’s, Inc.		8,849		386,082
ABM Industries, Inc.		37,377		1,558,995
Adtalem Global Education, Inc.		7,063		253,208
AMN Healthcare Services, Inc.*		19,848		907,053
Herc Holdings, Inc.*		21,035		1,033,449
Hertz Global Holdings, Inc.*		10,388		232,276
HMS Holdings Corp.*		41,035		814,955
James River Group Holdings Ltd.		19,383		804,007
Live Nation Entertainment, Inc.*		42,294		1,841,904
On Assignment, Inc.*		25,448		1,366,049

				9,197,978

Computers — 1.3%
Convergys Corp.		26,258		679,820
Mercury Systems, Inc.*		22,549		1,169,842
NetScout Systems, Inc.*		48,790		1,578,356

				3,428,018

Distribution & Wholesale — 1.0%
Beacon Roofing Supply, Inc.*		49,833		2,553,941

Diversified Financial Services — 1.1%
OM Asset Management PLC		56,901		848,963
Stifel Financial Corp.		32,226		1,722,802
Virtu Financial, Inc., Class A		21,981		356,092

				2,927,857

Electric — 3.7%
Black Hills Corp.		48,102		3,312,785
IDACORP, Inc.		19,576		1,721,317
PNM Resources, Inc.		49,959		2,013,348
Portland General Electric Co.		55,242		2,521,245

				9,568,695

Electronics — 2.1%
CTS Corp.		35,940		866,154


	Number of Shares		Value†
COMMON STOCKS — (continued)
Electronics — (continued)
II-VI, Inc.*		24,994	$	1,028,503
OSI Systems, Inc.*		11,788		1,077,070
Tech Data Corp.*		15,693		1,394,323
Watts Water Technologies, Inc.		15,702		1,086,578

				5,452,628

Engineering & Construction — 1.5%
EMCOR Group, Inc.		20,007		1,388,086
Granite Construction, Inc.		15,227		882,405
TopBuild Corp.*		22,792		1,485,354

				3,755,845

Entertainment — 0.9%
Marriott Vacations Worldwide Corp.		9,243		1,151,031
Red Rock Resorts, Inc., Class A		20,651		478,277
Vail Resorts, Inc.		3,325		758,499

				2,387,807

Environmental Control — 0.5%
Advanced Disposal Services, Inc.*		25,021		630,279
U.S. Ecology, Inc.		12,908		694,450

				1,324,729

Food — 1.9%
Simply Good Foods Co.*		120,626		1,412,530
Snyder’s-Lance, Inc.		49,917		1,903,834
SpartanNash Co.		7,016		185,012
The Hain Celestial Group, Inc.*		17,890		736,174
United Natural Foods, Inc.*		13,141		546,534

				4,784,084

Forest Products & Paper — 0.1%
Mercer International, Inc.		14,062		166,635

Gas — 1.7%
Chesapeake Utilities Corp.		8,298		649,318
New Jersey Resources Corp.		41,861		1,764,441
South Jersey Industries, Inc.		53,807		1,857,956

				4,271,715

Hand & Machine Tools — 0.4%
Kennametal, Inc.		24,570		991,154

Healthcare Products — 2.3%
CONMED Corp.		23,989		1,258,703
Halyard Health, Inc.*		32,660		1,470,680
ICU Medical, Inc.*		4,460		828,891
Integra LifeSciences Holdings Corp.*		22,476		1,134,589
Quidel Corp.*		17,057		748,120
Wright Medical Group NV*		21,497		556,127

				5,997,110

Healthcare Services — 1.0%
Acadia Healthcare Co., Inc.*		24,936		1,190,943
Almost Family, Inc.*		13,311		714,801
American Renal Associates Holdings, Inc.*		15,836		237,065
Kindred Healthcare, Inc.		58,467		397,576

				2,540,385


	Number of Shares		Value†

Home Builders — 1.0%
Foundation Building Materials, Inc.*		48,175	$	681,194
Meritage Homes Corp.*		9,590		425,796
Taylor Morrison Home Corp., Class A*		16,879		372,182
William Lyon Homes, Class A*		15,943		366,530
Winnebago Industries, Inc.		14,382		643,595

				2,489,297

Home Furnishings — 0.2%
American Woodmark Corp.*		4,926		474,127

Household Products & Wares — 0.1%
Spectrum Brands Holdings, Inc.		2,957		313,205

Insurance — 4.9%
AMERISAFE, Inc.		12,729		740,828
CNO Financial Group, Inc.		94,145		2,197,344
Enstar Group Ltd.*		5,349		1,189,350
Kinsale Capital Group, Inc.		21,208		915,549
Maiden Holdings Ltd.		10,254		81,519
MGIC Investment Corp.*		175,696		2,201,471
National General Holdings Corp.		12,513		239,124
Primerica, Inc.		14,821		1,208,653
ProAssurance Corp.		20,120		1,099,558
RLI Corp.		18,709		1,073,148
Selective Insurance Group, Inc.		29,269		1,576,136

				12,522,680

Investment Companies — 0.1%
Golub Capital BDC, Inc.		14,970		281,735

Iron & Steel — 1.0%
AK Steel Holding Corp.*		27,388		153,099
Allegheny Technologies, Inc.*		26,954		644,201
Cleveland-Cliffs, Inc.*		27,096		193,736
Commercial Metals Co.		62,299		1,185,550
Ryerson Holding Corp.*		35,949		390,047

				2,566,633

Lodging — 1.8%
Boyd Gaming Corp.		43,791		1,140,756
Extended Stay America, Inc.		55,878		1,117,560
Hilton Grand Vacations, Inc.*		59,616		2,302,966

				4,561,282

Machinery—Construction & Mining — 0.5%
Terex Corp.		26,075		1,173,896

Machinery—Diversified — 0.2%
Tennant Co.		9,376		620,691

Media — 0.8%
Nexstar Media Group, Inc., Class A		20,825		1,297,398
WideOpenWest, Inc.*		50,513		761,736

				2,059,134

Metal Fabricate/Hardware — 1.8%
CIRCOR International, Inc.		18,330		997,702
RBC Bearings, Inc.*		5,366		671,555
Rexnord Corp.*		61,256		1,556,515


	Number of Shares		Value†
COMMON STOCKS — (continued)
Metal Fabricate/Hardware — (continued)
TriMas Corp.*		50,041	$	1,351,107

				4,576,879

Mining — 0.6%
Century Aluminum Co.*		20,541		340,570
Kaiser Aluminum Corp.		6,888		710,428
Royal Gold, Inc.		4,560		392,342

				1,443,340

Miscellaneous Manufacturing — 1.7%
Federal Signal Corp.		61,541		1,309,592
ITT, Inc.		30,110		1,332,970
Standex International Corp.		5,193		551,497
Trinseo SA		17,961		1,205,183

				4,399,242

Oil & Gas — 3.8%
Callon Petroleum Co.*		200,148		2,249,664
Jagged Peak Energy, Inc.*		52,607		718,612
PDC Energy, Inc.*		27,203		1,333,763
Rice Energy, Inc.*		49,533		1,433,485
RSP Permian, Inc.*		68,542		2,370,868
WPX Energy, Inc.*		135,571		1,559,066

				9,665,458

Oil & Gas Services — 1.1%
C&J Energy Services, Inc.*		35,366		1,059,919
Ncs Multistage Holdings, Inc.*		20,188		486,127
SRC Energy, Inc.*		95,821		926,589
Thermon Group Holdings, Inc.*		11,513		207,119

				2,679,754

Packaging and Containers — 0.7%
Berry Global Group, Inc.*		22,960		1,300,684
KapStone Paper and Packaging Corp.		26,837		576,727

				1,877,411

Pharmaceuticals — 0.3%
Impax Laboratories, Inc.*		30,129		611,619
Prestige Brands Holdings, Inc.*		4,693		235,072

				846,691

Real Estate — 1.0%
Granite Point Mortgage Trust, Inc.		66,118		1,238,390
Kennedy-Wilson Holdings, Inc.		70,464		1,307,107

				2,545,497

Retail — 2.8%
Abercrombie & Fitch Co., Class A		17,574		253,769
American Eagle Outfitters, Inc.		69,460		993,278
Boot Barn Holdings, Inc.*		12,009		106,880
Burlington Stores, Inc.*		16,191		1,545,593
Del Taco Restaurants, Inc.*		32,103		492,460
Lithia Motors, Inc., Class A		11,463		1,379,114
Office Depot, Inc.		145,491		660,529
Party City Holdco, Inc.*		21,482		291,081
The Children’s Place, Inc.		8,163		964,458
Wingstop, Inc.		12,277		408,210

				7,095,372


	Number of Shares		Value†

Savings & Loans — 2.4%
Brookline Bancorp, Inc.		51,169	$	793,119
Flushing Financial Corp.		27,786		825,800
OceanFirst Financial Corp.		33,742		927,568
Provident Financial Services, Inc.		38,807		1,034,983
Washington Federal, Inc.		45,172		1,520,038
WSFS Financial Corp.		18,842		918,547

				6,020,055

Semiconductors — 2.0%
Cree, Inc.*		43,257		1,219,415
Cypress Semiconductor Corp.		72,835		1,093,981
Entegris, Inc.*		57,035		1,645,460
Semtech Corp.*		31,304		1,175,465

				5,134,321

Software — 3.6%
Allscripts Healthcare Solutions, Inc.*		100,977		1,436,903
Bottomline Technologies, Inc.*		26,826		853,872
CommVault Systems, Inc.*		21,775		1,323,920
Cornerstone OnDemand, Inc.*		34,102		1,384,882
SYNNEX Corp.		15,232		1,927,000
Verint Systems, Inc.*		52,205		2,184,779

				9,111,356

Storage & Warehousing — 0.4%
Mobile Mini, Inc.		32,325		1,113,596

Telecommunications — 1.6%
Anixter International, Inc.*		19,412		1,650,020
Extreme Networks, Inc.*		37,901		450,643
Finisar Corp.*		30,018		665,499
Viavi Solutions, Inc.*		145,274		1,374,292

				4,140,454

Transportation — 3.5%
ArcBest Corp.		10,636		355,774
Forward Air Corp.		10,780		616,939
Golar LNG Ltd.		76,873		1,738,099
Knight-Swift Transportation Holdings, Inc.*		50,180		2,084,979
Marten Transport Ltd.		33,979		698,268
Saia, Inc.*		19,803		1,240,658
XPO Logistics, Inc.*		33,710		2,284,864

				9,019,581

TOTAL COMMON STOCKS (Cost $177,035,349)				227,202,160

REAL ESTATE INVESTMENT TRUSTS — 9.0%
Building & Real Estate — 1.4%
Blackstone Mortgage Trust, Inc., Class A		52,231		1,620,206
PennyMac Mortgage Investment Trust		71,765		1,247,993
Two Harbors Investment Corp.		72,807		733,895

				3,602,094

Diversified — 0.4%
PS Business Parks, Inc.		8,196		1,094,166


	Number of Shares		Value†
REAL ESTATE INVESTMENT TRUSTS — (continued)
Healthcare — 0.7%
National Health Investors, Inc.		23,586	$	1,822,962

Hotels & Resorts — 2.5%
Chesapeake Lodging Trust		85,545		2,307,149
Pebblebrook Hotel Trust		88,046		3,181,982
RLJ Lodging Trust		44,426		977,372

				6,466,503

Industrial — 1.0%
CyrusOne, Inc.		35,862		2,113,348
Terreno Realty Corp.		11,990		433,798

				2,547,146

Office Property — 1.2%
Columbia Property Trust, Inc.		89,778		1,954,467
Hudson Pacific Properties, Inc.		31,266		1,048,349

				3,002,816

Storage & Warehousing — 0.9%
Life Storage, Inc.		26,985		2,207,643

Strip Centers — 0.9%
Acadia Realty Trust		80,126		2,293,206

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $20,494,965)				23,036,536

EXCHANGE TRADED FUNDS — 1.2%
iShares Russell 2000 Value ETF (Cost $3,116,356)		25,678		3,187,153

SHORT-TERM INVESTMENTS — 1.2%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $3,033,934)		3,033,934		3,033,934

TOTAL INVESTMENTS — 100.1% (Cost $203,680,604)			$	256,459,783

Other Assets & Liabilities — (0.1)%				(294,071	)

TOTAL NET ASSETS — 100.0%			$	256,165,712

†	See Security Valuation Note.

*	Non-income producing security.

PLC — Public Limited Company.


	Number of Shares		Value†
COMMON STOCKS — 92.3%
Advertising — 0.0%
MDC Partners, Inc., Class A*		1,800	$	19,800
Yext, Inc.*		500		6,640

				26,440

Aerospace & Defense — 1.1%
AAR Corp.		1,269		47,943
Aerojet Rocketdyne Holdings, Inc.*		2,440		85,424
Aerovironment, Inc.*		718		38,858
Astronics Corp.*		779		23,175
Cubic Corp.		969		49,419
Curtiss-Wright Corp.		1,651		172,596
Ducommun, Inc.*		400		12,820
Esterline Technologies Corp.*		1,040		93,756
Kaman Corp.		1,048		58,457
KLX, Inc.*		2,000		105,860
Kratos Defense & Security Solutions, Inc.*		2,422		31,680
Moog, Inc., Class A*		1,191		99,365
National Presto Industries, Inc.		146		15,542
Triumph Group, Inc.		2,000		59,500

				894,395

Agriculture — 0.3%
Alico, Inc.		151		5,157
Cadiz, Inc.*		800		10,160
Limoneira Co.		600		13,902
Tejon Ranch Co.*		688		14,517
The Andersons, Inc.		1,132		38,771
Universal Corp.		955		54,721
Vector Group Ltd.		3,799		77,765

				214,993

Airlines — 0.3%
Allegiant Travel Co.		501		65,982
Hawaiian Holdings, Inc.*		2,026		76,076
SkyWest, Inc.		1,981		86,966

				229,024

Apparel — 0.7%
Columbia Sportswear Co.		1,122		69,093
Crocs, Inc.*		2,900		28,130
Deckers Outdoor Corp.*		1,200		82,092
Delta Apparel, Inc.*		300		6,453
G-III Apparel Group Ltd.*		1,708		49,566
Iconix Brand Group, Inc.*		1,842		10,481
Oxford Industries, Inc.		608		38,632
Perry Ellis International, Inc.*		414		9,795
Sequential Brands Group, Inc.*		1,740		5,202
Steven Madden Ltd.*		2,349		101,712
Superior Uniform Group, Inc.		500		11,450
Unifi, Inc.*		660		23,516
Weyco Group, Inc.		200		5,676
Wolverine World Wide, Inc.		3,582		103,341

				545,139

Auto Manufacturers — 0.2%
Navistar International Corp.*		1,800		79,326
REV Group, Inc.		600		17,256


	Number of Shares		Value†

Auto Manufacturers — (continued)
Wabash National Corp.		2,300	$	52,486

				149,068

Auto Parts & Equipment — 1.2%
American Axle & Manufacturing Holdings, Inc.*		3,416		60,053
Commercial Vehicle Group, Inc.*		1,000		7,350
Cooper Tire & Rubber Co.		2,049		76,633
Cooper-Standard Holding, Inc.*		700		81,179
Dana, Inc.		5,496		153,668
Dorman Products, Inc.*		1,092		78,209
Douglas Dynamics, Inc.		900		35,460
Gentherm, Inc.*		1,468		54,536
Horizon Global Corp.*		718		12,666
Meritor, Inc.*		3,045		79,201
Miller Industries, Inc.		443		12,382
Modine Manufacturing Co.*		2,077		39,982
Motorcar Parts of America, Inc.*		700		20,622
Spartan Motors, Inc.		1,500		16,575
Standard Motor Products, Inc.		900		43,425
Superior Industries International, Inc.		1,119		18,631
Tenneco, Inc.		2,100		127,407
Titan International, Inc.		1,913		19,417
Tower International, Inc.		800		21,760

				959,156

Banks — 9.7%
1st Source Corp.		688		34,950
Access National Corp.		399		11,435
ACNB Corp.		300		8,310
Allegiance Bancshares, Inc.*		500		18,400
American National Bankshares, Inc.		400		16,480
Ameris Bancorp		1,447		69,456
Ames National Corp.		299		8,925
Arrow Financial Corp.		400		13,740
Atlantic Capital Bancshares, Inc.*		800		14,520
BancFirst Corp.		620		35,185
Banco Latinoamericano de Comercio Exterior S.A.		1,110		32,678
BancorpSouth, Inc.		3,249		104,130
Bank of Commerce Holdings		900		10,350
Bank of Marin Bancorp		290		19,865
Bank of NT Butterfield & Son Ltd.		2,100		76,944
Bankwell Financial Group, Inc.		300		11,082
Banner Corp.		1,200		73,536
Bar Harbor Bankshares		597		18,722
Blue Hills Bancorp, Inc.		1,100		21,120
Boston Private Financial Holdings, Inc.		3,358		55,575
Bridge Bancorp, Inc.		707		24,003
Bryn Mawr Bank Corp.		732		32,062
C&F Financial Corp.		200		11,000
Cadence BanCorp*		300		6,876
Camden National Corp.		539		23,522
Capital Bank Financial Corp., Class A		1,012		41,543
Capital City Bank Group, Inc.		269		6,459
Capstar Financial Holdings, Inc.*		500		9,790
Carolina Financial Corp.		500		17,940


	Number of Shares		Value†
COMMON STOCKS — (continued)
Banks — (continued)
Cass Information Systems, Inc.		454	$	28,802
Cathay General Bancorp		2,950		118,590
CenterState Bank Corp.		1,932		51,778
Central Pacific Financial Corp.		1,100		35,398
Central Valley Community Bancorp		400		8,920
Century Bancorp, Inc., Class A		69		5,527
Chemical Financial Corp.		2,700		141,102
Chemung Financial Corp.		200		9,420
Citizens & Northern Corp.		356		8,743
City Holding Co.		548		39,407
Civista Bancshares, Inc.		400		8,936
CNB Financial Corp.		474		12,950
CoBiz Financial, Inc.		1,500		29,460
Codorus Valley Bancorp, Inc.		420		12,898
Columbia Banking System, Inc.		2,214		93,232
Commerce Union Bancshares, Inc.		400		9,272
Community Bank System, Inc.		1,837		101,494
Community Financial Corp.		100		3,537
Community Trust Bancorp, Inc.		483		22,459
ConnectOne Bancorp, Inc.		1,060		26,076
County Bancorp, Inc.		300		9,015
CU Bancorp*		700		27,142
Customers Bancorp, Inc.*		980		31,968
CVB Financial Corp.		3,992		96,487
Eagle Bancorp, Inc.*		1,173		78,650
Enterprise Bancorp, Inc.		313		11,365
Enterprise Financial Services Corp.		782		33,118
Equity Bancshares, Inc., Class A*		300		10,674
Evans Bancorp, Inc.		200		8,640
Farmers & Merchants Bancorp, Inc.		400		14,580
Farmers Capital Bank Corp.		300		12,615
Farmers National Banc Corp.		1,100		16,555
FB Financial Corp.*		500		18,860
Fidelity Southern Corp.		907		21,441
Financial Institutions, Inc.		440		12,672
First Bancorp		824		28,354
First BanCorp Puerto Rico*		6,400		32,768
First Bancorp, Inc.		434		13,155
First Bancshares, Inc.		300		9,045
First Busey Corp.		1,413		44,312
First Business Financial Services, Inc.		400		9,100
First Citizens BancShares, Inc., Class A		278		103,941
First Commonwealth Financial Corp.		3,721		52,578
First Community Bancshares, Inc.		626		18,223
First Connecticut Bancorp, Inc.		659		17,628
First Financial Bancorp		2,505		65,506
First Financial Bankshares, Inc.		2,452		110,830
First Financial Corp.		480		22,848
First Foundation, Inc.*		1,200		21,468
First Internet Bancorp		300		9,690
First Interstate BancSystem, Inc., Class A		987		37,753
First Merchants Corp.		1,538		66,026
First Mid-Illinois Bancshares, Inc.		300		11,520
First Midwest Bancorp, Inc.		4,014		94,008
First Northwest Bancorp*		500		8,550
Franklin Financial Network, Inc.*		400		14,260


	Number of Shares		Value†

Banks — (continued)
Fulton Financial Corp.		6,403	$	120,056
German American Bancorp, Inc.		738		28,066
Glacier Bancorp, Inc.		3,021		114,073
Great Southern Bancorp, Inc.		471		26,211
Great Western Bancorp, Inc.		2,300		94,944
Green Bancorp, Inc.*		700		16,555
Guaranty Bancorp		700		19,460
Hancock Holding Co.		3,272		158,528
Hanmi Financial Corp.		1,213		37,542
HarborOne Bancorp, Inc.*		600		11,286
Heartland Financial USA, Inc.		917		45,300
Heritage Commerce Corp.		1,200		17,076
Heritage Financial Corp.		1,130		33,335
Home BancShares, Inc.		5,835		147,165
Hope Bancorp, Inc.		5,067		89,737
Horizon Bancorp		900		26,253
Howard Bancorp, Inc.*		500		10,450
IBERIABANK Corp.		1,946		159,864
Independent Bank Corp.		1,071		79,950
Independent Bank Corp.		800		18,120
Independent Bank Group, Inc.		700		42,210
International Bancshares Corp.		2,125		85,212
Investar Holding Corp.		300		7,230
Kearny Financial Corp.		3,176		48,752
Lakeland Bancorp, Inc.		1,711		34,904
Lakeland Financial Corp.		891		43,410
LCNB Corp.		400		8,380
LegacyTexas Financial Group, Inc.		1,866		74,491
Live Oak Bancshares, Inc.		900		21,105
Macatawa Bank Corp.		1,300		13,338
MainSource Financial Group, Inc.		921		33,027
MB Financial, Inc.		3,084		138,842
MBT Financial Corp.		900		9,855
Mercantile Bank Corp.		700		24,430
Midland States Bancorp, Inc.		600		19,008
MidWestOne Financial Group, Inc.		400		13,504
National Bankshares, Inc.		319		14,339
National Commerce Corp.*		400		17,120
NBT Bancorp, Inc.		1,669		61,286
Nicolet Bankshares, Inc.*		300		17,259
Northeast Bancorp		300		7,845
Northrim BanCorp, Inc.		300		10,485
Norwood Financial Corp.		300		9,156
OFG Bancorp		1,810		16,561
Old Line Bancshares, Inc.		400		11,200
Old National Bancorp		4,961		90,786
Old Second Bancorp, Inc.		800		10,760
Opus Bank*		700		16,800
Orrstown Financial Services, Inc.		400		9,960
Pacific Continental Corp.		862		23,231
Pacific Mercantile Bancorp*		800		7,320
Paragon Commercial Corp.*		200		11,292
Park National Corp.		524		56,587
Park Sterling Corp.		2,300		28,566
PCSB Financial Corp.*		700		13,202
Peapack Gladstone Financial Corp.		636		21,459


	Number of Shares		Value†
COMMON STOCKS — (continued)
Banks — (continued)
Penns Woods Bancorp, Inc.		268	$	12,454
People’s Utah Bancorp		600		19,470
Peoples Bancorp, Inc.		572		19,213
Peoples Financial Services Corp.		300		14,340
Preferred Bank		500		30,175
Premier Financial Bancorp, Inc.		440		9,588
QCR Holdings, Inc.		400		18,200
Renasant Corp.		1,635		70,141
Republic Bancorp, Inc., Class A		387		15,050
Republic First Bancorp, Inc.*		1,700		15,725
S&T Bancorp, Inc.		1,259		49,831
Sandy Spring Bancorp, Inc.		985		40,818
Seacoast Banking Corp of Florida*		1,540		36,791
ServisFirst Bancshares, Inc.		1,800		69,930
Shore Bancshares, Inc.		600		9,990
Sierra Bancorp		312		8,471
Simmons First National Corp., Class A		1,200		69,480
SmartFinancial, Inc.*		400		9,624
South State Corp.		1,058		95,273
Southern First Bancshares, Inc.*		300		10,905
Southern National Bancorp of Virginia, Inc.		600		10,194
Southside Bancshares, Inc.		971		35,306
Southwest Bancorp, Inc.		636		17,522
State Bank Financial Corp.		1,500		42,975
Stock Yards Bancorp, Inc.		767		29,146
Summit Financial Group, Inc.		400		10,264
Sun Bancorp, Inc.		520		12,922
Sunshine Bancorp, Inc.*		300		6,972
Texas Capital Bancshares, Inc.*		1,873		160,703
The Bancorp, Inc.*		1,512		12,504
The First of Long Island Corp.		889		27,070
Tompkins Financial Corp.		558		48,066
Towne Bank		2,232		74,772
TriCo Bancshares		804		32,763
TriState Capital Holdings, Inc.*		1,000		22,900
Triumph Bancorp., Inc.*		500		16,125
TrustCo Bank Corp.		3,252		28,943
Trustmark Corp.		2,630		87,106
UMB Financial Corp.		1,781		132,667
Umpqua Holdings Corp.		8,501		165,855
Union Bankshares Corp.		1,628		57,468
Union Bankshares Inc/Morrisville VT		100		4,840
United Bankshares, Inc.		3,856		143,250
United Community Banks, Inc.		2,678		76,430
Univest Corp. of Pennsylvania		1,087		34,784
Valley National Bancorp		10,035		120,922
Veritex Holdings, Inc.*		600		16,176
Walker & Dunlop, Inc.*		1,100		57,563
Washington Trust Bancorp, Inc.		570		32,632
WashingtonFirst Bankshares Inc.		420		14,948
WesBanco, Inc.		1,623		66,575
West Bancorporation, Inc.		778		18,983
Westamerica Bancorporation		973		57,932
Western New England Bancorp, Inc.		1,000		10,900
Wintrust Financial Corp.		2,142		167,740


	Number of Shares		Value†

Banks — (continued)
Xenith Bankshares, Inc.*		300		9,750

				7,609,964

Beverages — 0.3%
Coca-Cola Bottling Co. Consolidated		174		37,541
Craft Brew Alliance, Inc.*		700		12,285
Farmer Brothers Co.*		204		6,701
MGP Ingredients, Inc.		500		30,315
National Beverage Corp.		442		54,830
Primo Water Corp.*		1,000		11,850
The Boston Beer Co., Inc., Class A*		327		51,077

				204,599

Biotechnology — 4.6%
Abeona Therapeutics, Inc.*		900		15,345
Acceleron Pharma, Inc.*		1,100		41,052
Achillion Pharmaceuticals, Inc.*		4,300		19,307
Acorda Therapeutics, Inc.*		1,731		40,938
Aduro Biotech, Inc.*		1,500		15,975
Advaxis, Inc.*		1,000		4,180
Agenus, Inc.*		3,200		14,112
Alder Biopharmaceuticals, Inc.*		1,900		23,275
AMAG Pharmaceuticals, Inc.*		1,456		26,863
AnaptysBio, Inc.*		300		10,485
Anavex Life Sciences Corp.*		2,000		8,280
ANI Pharmaceuticals, Inc.*		300		15,747
Ardelyx, Inc.*		1,400		7,840
Arena Pharmaceuticals, Inc.*		1,450		36,975
Assembly Biosciences, Inc.*		500		17,460
Asterias Biotherapeutics, Inc.*		1,300		4,420
Atara Biotherapeutics, Inc.*		1,000		16,550
Athersys, Inc.*		3,600		7,416
Audentes Therapeutics, Inc.*		600		16,806
Bellicum Pharmaceuticals, Inc.*		900		10,395
BioCryst Pharmaceuticals, Inc.*		2,900		15,196
Biohaven Pharmaceutical Holding Co. Ltd.*		400		14,952
BioTime, Inc.*		3,100		8,804
Bluebird Bio, Inc.*		1,700		233,495
Blueprint Medicines Corp.*		1,500		104,505
Calyxt, Inc.*		300		7,347
Cambrex Corp.*		1,267		69,685
Celldex Therapeutics, Inc.*		3,644		10,422
Clearside Biomedical, Inc.*		500		4,370
Coherus Biosciences, Inc.*		1,300		17,355
Corium International, Inc.*		900		9,972
Curis, Inc.*		3,600		5,364
Cytokinetics, Inc.*		1,400		20,300
CytomX Therapeutics, Inc.*		900		16,353
Dermira, Inc.*		1,500		40,500
Dynavax Technologies Corp.*		2,320		49,880
Edge Therapeutics, Inc.*		800		8,584
Editas Medicine, Inc.*		1,300		31,213
Emergent BioSolutions, Inc.*		1,258		50,886
Enzo Biochem, Inc.*		1,800		18,846
Epizyme, Inc.*		1,600		30,480
Exact Sciences Corp.*		4,500		212,040
Five Prime Therapeutics, Inc.*		1,100		45,001


	Number of Shares		Value†
COMMON STOCKS — (continued)
Biotechnology — (continued)
Fortress Biotech, Inc.*		500	$	2,210
Foundation Medicine, Inc.*		518		20,824
Genocea Biosciences, Inc.*		1,800		2,628
Geron Corp.*		6,550		14,279
Halozyme Therapeutics, Inc.*		4,489		77,974
Idera Pharmaceuticals, Inc.*		5,700		12,711
ImmunoGen, Inc.*		3,263		24,962
Immunomedics, Inc.*		3,936		55,025
Innoviva, Inc.*		2,800		39,536
Inovio Pharmaceuticals, Inc.*		2,500		15,850
Insmed, Inc.*		2,800		87,388
Intellia Therapeutics, Inc.*		300		7,455
Iovance Biotherapeutics, Inc.*		2,500		19,375
Karyopharm Therapeutics, Inc.*		800		8,784
Kite Pharma, Inc.*		1,840		330,850
Kura Oncology, Inc.*		700		10,465
Lexicon Pharmaceuticals, Inc.*		1,760		21,630
Ligand Pharmaceuticals, Inc.*		744		101,295
Loxo Oncology, Inc.*		800		73,696
MacroGenics, Inc.*		1,300		24,024
Merrimack Pharmaceuticals, Inc.		450		6,543
Momenta Pharmaceuticals, Inc.*		2,682		49,617
Myriad Genetics, Inc.*		2,500		90,450
NeoGenomics, Inc.*		1,700		18,921
NewLink Genetics Corp.*		700		7,126
Novavax, Inc.*		10,129		11,547
Novelion Therapeutics, Inc.*		1,000		7,030
Omeros Corp.*		1,400		30,268
Organovo Holdings, Inc.*		4,900		10,878
Otonomy, Inc.*		1,100		3,575
Pacific Biosciences of California, Inc.*		3,200		16,800
Paratek Pharmaceuticals, Inc.*		900		22,590
PDL BioPharma, Inc.*		6,217		21,076
Pieris Pharmaceuticals, Inc.*		1,300		7,488
Prothena Corp. PLC*		1,400		90,678
PTC Therapeutics, Inc.*		1,200		24,012
Puma Biotechnology, Inc.*		1,100		131,725
REGENXBIO, Inc.*		800		26,360
Repligen Corp.*		1,300		49,816
Retrophin, Inc.*		1,500		37,335
Rigel Pharmaceuticals, Inc.*		6,090		15,469
RTI Surgical, Inc.*		2,035		9,259
Sage Therapeutics, Inc.*		1,300		80,990
Sangamo Therapeutics, Inc.*		3,203		48,045
Selecta Biosciences, Inc.*		300		5,475
Spark Therapeutics, Inc.*		1,000		89,160
Spectrum Pharmaceuticals, Inc.*		3,014		42,407
Stemline Therapeutics, Inc.*		400		4,440
The Medicines Co.*		2,592		96,008
Theravance Biopharma, Inc.*		1,500		51,360
Ultragenyx Pharmaceutical, Inc.*		1,500		79,890
Veracyte Inc.*		800		7,016
Versartis, Inc.*		1,200		2,940
WaVe Life Sciences Ltd.*		400		8,700
XBiotech, Inc.*		800		3,496


	Number of Shares		Value†

Biotechnology — (continued)
ZIOPHARM Oncology, Inc.*		4,627	$	28,410

				3,566,832

Building Materials — 1.7%
AAON, Inc.		1,585		54,643
Apogee Enterprises, Inc.		1,043		50,335
Armstrong Flooring, Inc.*		1,000		15,750
Boise Cascade Co.*		1,400		48,860
Builders FirstSource, Inc.*		3,473		62,479
Caesarstone Ltd.*		1,000		29,800
Comfort Systems USA, Inc.		1,327		47,374
Continental Building Products, Inc.*		1,500		39,000
Forterra, Inc.*		900		4,050
Gibraltar Industries, Inc.*		1,201		37,411
Griffon Corp.		1,256		27,883
JELD-WEN Holding, Inc.*		2,100		74,592
Louisiana-Pacific Corp.*		5,594		151,486
LSI Industries, Inc.		1,314		8,686
Masonite International Corp.*		1,100		76,120
NCI Building Systems, Inc.*		1,264		19,718
Patrick Industries, Inc.*		650		54,665
PGT Innovations, Inc.*		1,700		25,415
Ply Gem Holdings, Inc.*		1,000		17,050
Quanex Building Products Corp.		1,425		32,704
Simpson Manufacturing Co., Inc.		1,585		77,728
Summit Materials, Inc., Class A*		4,049		129,690
Trex Co., Inc.*		1,162		104,661
Universal Forest Products, Inc.		783		76,859
US Concrete, Inc.*		600		45,780

				1,312,739

Chemicals — 1.9%
A. Schulman, Inc.		1,188		40,570
Aceto Corp.		1,042		11,702
AdvanSix, Inc.*		1,200		47,700
AgroFresh Solutions, Inc.*		1,400		9,842
American Vanguard Corp.		1,078		24,686
Balchem Corp.		1,205		97,955
Codexis, Inc.*		1,600		10,640
CSW Industrials, Inc.*		600		26,610
Ferro Corp.*		3,238		72,207
GCP Applied Technologies, Inc.*		2,700		82,890
H.B. Fuller Co.		1,980		114,959
Hawkins, Inc.		449		18,319
Ingevity Corp.*		1,600		99,952
Innophos Holdings, Inc.		796		39,155
Innospec, Inc.		900		55,485
Intrepid Potash, Inc.*		3,700		16,132
KMG Chemicals, Inc.		300		16,464
Kraton Corp.*		1,241		50,186
Kronos Worldwide, Inc.		900		20,547
Landec Corp.*		1,218		15,773
Minerals Technologies, Inc.		1,328		93,823
Oil-Dri Corp of America		97		4,746
OMNOVA Solutions, Inc.*		1,268		13,885
PolyOne Corp.		3,155		126,295
Quaker Chemical Corp.		511		75,603


	Number of Shares		Value†
COMMON STOCKS — (continued)
Chemicals — (continued)
Rayonier Advanced Materials, Inc.		1,900	$	26,030
Sensient Technologies Corp.		1,658		127,533
Stepan Co.		808		67,597
Tronox Ltd., Class A		2,400		50,640

				1,457,926

Coal — 0.2%
Arch Coal, Inc.		800		57,392
Cloud Peak Energy, Inc.*		2,900		10,614
Peabody Energy Corp.*		2,400		69,624
SunCoke Energy, Inc.*		2,341		21,397
Warrior Met Coal, Inc.		700		16,499
Westmoreland Coal Co.*		600		1,530

				177,056

Commercial Services — 5.2%
Aaron’s, Inc.		2,500		109,075
ABM Industries, Inc.		2,139		89,218
Acacia Research Corp.*		1,880		8,554
Adtalem Global Education, Inc.		2,400		86,040
Alarm.com Holdings, Inc.*		800		36,144
American Public Education, Inc.*		755		15,893
AMN Healthcare Services, Inc.*		1,809		82,671
ARC Document Solutions, Inc.*		1,436		5,873
Ascent Capital Group, Inc., Class A*		531		6,924
Avis Budget Group, Inc.*		2,900		110,374
B. Riley Financial, Inc.		500		8,525
Barrett Business Services, Inc.		342		19,333
Bridgepoint Education, Inc.*		480		4,608
Capella Education Co.		407		28,551
Cardtronics PLC, Class A*		1,763		40,567
Care.com, Inc.*		400		6,356
Career Education Corp.*		2,300		23,897
Carriage Services, Inc.		600		15,360
CBIZ, Inc.*		2,140		34,775
Collectors Universe, Inc.		400		9,588
CorVel Corp.*		362		19,693
Cotiviti Holdings, Inc.*		1,400		50,372
CPI Card Group, Inc.*		800		944
CRA International, Inc.		274		11,248
Cross Country Healthcare, Inc.*		1,084		15,425
Deluxe Corp.		1,807		131,839
Emerald Expositions Events, Inc.		600		13,944
Ennis, Inc.		858		16,860
Everi Holdings, Inc.*		2,500		18,975
EVERTEC, Inc.		2,139		33,903
ExlService Holdings, Inc.*		1,300		75,816
Forrester Research, Inc.		375		15,694
Franklin Covey Co.*		197		3,999
FTI Consulting, Inc.*		1,556		55,207
Grand Canyon Education, Inc.*		1,756		159,480
Great Lakes Dredge & Dock Corp.*		2,751		13,342
Green Dot Corp., Class A*		1,800		89,244
Healthcare Services Group, Inc.		2,680		144,640
HealthEquity, Inc.*		1,900		96,102
Heidrick & Struggles International, Inc.		669		14,149
Herc Holdings, Inc.*		900		44,217


	Number of Shares		Value†

Commercial Services — (continued)
Hertz Global Holdings, Inc.*		2,100	$	46,956
HMS Holdings Corp.*		3,015		59,878
Huron Consulting Group, Inc.*		828		28,400
ICF International, Inc.*		748		40,355
INC Research Holdings, Inc., Class A*		2,100		109,830
Information Services Group, Inc.*		1,600		6,432
Insperity, Inc.		724		63,712
James River Group Holdings Ltd.		900		37,332
K12, Inc.*		1,152		20,552
Kelly Services, Inc., Class A		1,014		25,441
Kforce, Inc.		1,086		21,937
Korn/Ferry International		1,990		78,466
Landauer, Inc.		380		25,574
Laureate Education, Inc.*		1,300		18,915
LendingTree, Inc.*		200		48,890
Liberty Tax, Inc.		200		2,880
LSC Communications, Inc.		1,300		21,463
Matthews International Corp., Class A		1,205		75,011
MAXIMUS, Inc.		2,488		160,476
McGrath RentCorp		953		41,694
Medifast, Inc.		331		19,651
MoneyGram International, Inc.*		1,078		17,367
Monro Inc		1,237		69,334
Multi-Color Corp.		567		46,466
National Research Corp., Class A		187		7,050
Navigant Consulting, Inc.*		1,984		33,569
Neff Corp., Class A*		300		7,500
On Assignment, Inc.*		1,952		104,783
PAREXEL International Corp.*		1,898		167,176
Paylocity Holding Corp.*		900		43,938
Quad/Graphics, Inc.		1,300		29,393
Rent-A-Center, Inc.		1,953		22,420
Resources Connection, Inc.		922		12,816
RPX Corp.*		1,700		22,576
RR Donnelley & Sons Co.		2,700		27,810
SEACOR Marine Holdings Inc.*		603		9,431
ServiceSource International, Inc.*		2,400		8,304
Sotheby’s*		1,441		66,445
SP Plus Corp.*		693		27,373
Strayer Education, Inc.		400		34,908
Team, Inc.*		1,183		15,793
TeleTech Holdings, Inc.		507		21,167
The Advisory Board Co.*		1,550		83,119
The Brink’s Co.		1,710		144,067
The Hackett Group, Inc.		1,116		16,952
The Providence Service Corp.*		400		21,632
Travelport Worldwide Ltd.		4,700		73,790
TriNet Group, Inc.*		1,600		53,792
TrueBlue, Inc.*		1,576		35,381
Vectrus, Inc.*		300		9,252
Viad Corp.		771		46,954
Weight Watchers International, Inc.*		1,100		47,905
Willdan Group, Inc.*		300		9,738

				4,059,465

Computers — 2.4%
3D Systems Corp.*		4,400		58,916


	Number of Shares		Value†
COMMON STOCKS — (continued)
Computers — (continued)
A10 Networks, Inc.*		2,000	$	15,120
Agilysys, Inc.*		376		4,493
Barracuda Networks, Inc.*		1,000		24,230
CACI International, Inc., Class A*		950		132,382
Carbonite, Inc.*		800		17,600
Convergys Corp.		3,583		92,764
Cray, Inc.*		1,599		31,101
Diebold Nixdorf, Inc.		2,900		66,265
Digimarc Corp.*		300		10,980
DMC Global, Inc.		700		11,830
Electronics For Imaging, Inc.*		1,824		77,848
Engility Holdings, Inc.*		700		24,276
EPAM Systems, Inc.*		1,900		167,067
Immersion Corp.*		842		6,879
Insight Enterprises, Inc.*		1,343		61,671
LivePerson, Inc.*		1,925		26,084
Lumentum Holdings, Inc.*		2,300		125,005
Maxwell Technologies, Inc.*		1,500		7,695
Mercury Systems, Inc.*		1,836		95,252
Mitek Systems, Inc.*		1,400		13,300
MTS Systems Corp.		660		35,277
NetScout Systems, Inc.*		3,265		105,623
Nutanix, Inc.*		2,200		49,258
Presidio, Inc.*		700		9,905
Pure Storage, Inc., Class A*		3,600		57,564
Qualys, Inc.*		1,100		56,980
Quantum Corp.*		1,100		6,732
Radisys Corp.*		1,700		2,329
Science Applications International Corp.		1,700		113,645
Silver Spring Networks, Inc.*		1,500		24,255
Stratasys Ltd.*		1,800		41,616
Super Micro Computer, Inc.*		1,471		32,509
Sykes Enterprises, Inc.*		1,536		44,790
Syntel, Inc.		1,360		26,724
The Key W Holding Corp.*		2,200		16,742
Unisys Corp.*		2,224		18,904
USA Technologies, Inc.*		1,800		11,250
Varonis Systems, Inc.*		700		29,330
VeriFone Systems, Inc.*		4,400		89,232
Virtusa Corp.*		1,089		41,142
Vocera Communications, Inc.*		1,100		34,507

				1,919,072

Cosmetics & Personal Care — 0.1%
elf Beauty, Inc.*		800		18,040
Inter Parfums, Inc.		624		25,740
Revlon, Inc., Class A*		570		13,994

				57,774

Distribution & Wholesale — 0.7%
Beacon Roofing Supply, Inc.*		2,381		122,026
Castle Brands, Inc.*		5,500		7,370
Core-Mark Holding Co., Inc.		1,764		56,695
Essendant, Inc.		1,519		20,005
Fossil Group, Inc.*		1,700		15,861
H&E Equipment Services, Inc.		1,159		33,843
Huttig Building Products Inc.*		1,500		10,590


	Number of Shares		Value†

Distribution & Wholesale — (continued)
Nexeo Solutions, Inc.*		1,000	$	7,300
Owens & Minor, Inc.		2,276		66,459
ScanSource, Inc.*		981		42,821
SiteOne Landscape Supply, Inc.*		1,300		75,530
Titan Machinery, Inc.*		523		8,122
Triton International Ltd.*		1,693		56,343
Veritiv Corp.*		500		16,250

				539,215

Diversified Financial Services — 2.3%
Aircastle Ltd.		1,976		44,045
Altisource Portfolio Solutions SA*		500		12,935
Artisan Partners Asset Management, Inc., Class A		1,700		55,420
Associated Capital Group, Inc., Class A		262		9,353
Blackhawk Network Holdings, Inc.*		2,100		91,980
Cohen & Steers, Inc.		817		32,263
Cowen Group Inc., Class A*		947		16,857
Diamond Hill Investment Group, Inc.		107		22,721
Ellie Mae, Inc.*		1,300		106,769
Encore Capital Group, Inc.*		997		44,167
Enova International, Inc.*		1,029		13,840
Evercore Inc, Class A		1,522		122,141
Federal Agricultural Mortgage Corp., Class C		300		21,822
Financial Engines, Inc.		2,300		79,925
FNFV Group*		2,400		41,160
GAIN Capital Holdings, Inc.		1,800		11,502
GAMCO Investors, Inc., Class A		262		7,797
Greenhill & Co., Inc.		1,100		18,260
Hamilton Lane, Inc., Class A		500		13,425
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		1,700		41,429
Houlihan Lokey, Inc.		900		35,217
Impac Mortgage Holdings, Inc.*		500		6,530
INTL. FCStone, Inc.*		593		22,724
Investment Technology Group, Inc.		1,300		28,782
Ladder Capital Corp. REIT		2,747		37,854
Ladenburg Thalmann Financial Services, Inc.		4,000		11,520
LendingClub Corp.*		12,100		73,689
Marlin Business Services Corp.		200		5,750
Moelis & Co., Class A		1,200		51,660
Nationstar Mortgage Holdings, Inc.*		1,300		24,141
Nelnet, Inc., Class A		799		40,350
NewStar Financial, Inc.		1,300		15,262
Ocwen Financial Corp.*		3,800		13,072
OM Asset Management PLC		2,400		35,808
On Deck Capital, Inc.*		2,200		10,274
Oppenheimer Holdings, Inc., Class A		238		4,129
PennyMac Financial Service, Class A*		500		8,900
PHH Corp.*		1,989		27,707
Piper Jaffray Cos.		587		34,838
PJT Partners, Inc., Class A		800		30,648
PRA Group, Inc.*		1,848		52,945
Pzena Investment Management, Inc., Class A		830		9,039
R1 RCM, Inc.*		3,900		14,469


	Number of Shares		Value†
COMMON STOCKS — (continued)
Diversified Financial Services — (continued)
Regional Management Corp.*		300	$	7,263
Stifel Financial Corp.		2,506		133,971
Teton Advisors, Inc., Class B~		2		0
TPG RE Finance Trust, Inc.*		400		7,908
Virtu Financial, Inc., Class A		1,100		17,820
Virtus Investment Partners, Inc.		240		27,852
Waddell & Reed Financial, Inc., Class A		3,200		64,224
WageWorks, Inc.*		1,500		91,050
Westwood Holdings Group, Inc.		311		20,921
WisdomTree Investments, Inc.		4,400		44,792
World Acceptance Corp.*		262		21,717

				1,840,637

Electric — 1.9%
ALLETE, Inc.		1,951		150,793
Ameresco, Inc., Class A*		1,100		8,580
Atlantic Power Corp.*		4,127		10,111
Avista Corp.		2,439		126,267
Black Hills Corp.		2,048		141,046
Dynegy, Inc.*		4,300		42,097
El Paso Electric Co.		1,577		87,129
Genie Energy Ltd., Class B		800		5,240
IDACORP, Inc.		1,901		167,155
MGE Energy, Inc.		1,342		86,693
NorthWestern Corp.		1,880		107,047
NRG Yield, Inc., Class A		1,500		28,455
NRG Yield, Inc., Class C		2,500		48,250
Ormat Technologies, Inc.		1,500		91,575
Otter Tail Corp.		1,592		69,013
PNM Resources, Inc.		3,110		125,333
Portland General Electric Co.		3,456		157,732
Spark Energy, Inc., Class A		400		6,000
Unitil Corp.		463		22,900

				1,481,416

Electrical Components & Equipment — 1.1%
Advanced Energy Industries, Inc.*		1,493		120,575
Belden, Inc.		1,555		125,224
Encore Wire Corp.		771		34,521
Energous Corp.*		700		8,862
EnerSys		1,723		119,180
Generac Holdings, Inc.*		2,349		107,889
General Cable Corp.		1,900		35,815
Graham Corp.		466		9,707
Insteel Industries, Inc.		691		18,042
Littelfuse, Inc.		878		171,983
Novanta, Inc.*		1,300		56,680
Powell Industries, Inc.		429		12,866
SunPower Corp.*		2,300		16,767
Vicor Corp.*		422		9,959

				848,070

Electronics — 2.4%
Allied Motion Technologies, Inc.		400		10,136
Applied Optoelectronics, Inc.*		700		45,269
AVX Corp.		1,600		29,168
Badger Meter, Inc.		1,118		54,782
Bel Fuse, Inc., Class B		269		8,393


	Number of Shares		Value†

Electronics — (continued)
Benchmark Electronics, Inc.*		1,813	$	61,914
Brady Corp., Class A		1,857		70,473
Control4 Corp.*		1,000		29,460
CTS Corp.		1,263		30,438
CyberOptics Corp.*		400		6,500
Electro Scientific Industries, Inc.*		1,300		18,096
ESCO Technologies, Inc.		1,034		61,988
FARO Technologies, Inc.*		620		23,715
Fitbit, Inc.*		6,800		47,328
Fluidigm Corp.*		1,100		5,544
GoPro, Inc., Class A*		3,700		40,737
II-VI, Inc.*		2,356		96,949
IMAX Corp.*		2,100		47,565
Itron, Inc.*		1,300		100,685
KEMET Corp.*		1,800		38,034
Kimball Electronics, Inc.*		933		20,200
Mesa Laboratories, Inc.		100		14,932
Methode Electronics, Inc.		1,460		61,831
MicroVision, Inc.*		2,900		8,062
NVE Corp.		209		16,505
OSI Systems, Inc.*		657		60,030
Park Electrochemical Corp.		833		15,411
Plexus Corp.*		1,303		73,072
Rogers Corp.*		660		87,965
Sanmina Corp.*		2,926		108,701
Sparton Corp.*		400		9,284
Stoneridge, Inc.*		1,073		21,256
Tech Data Corp.*		1,318		117,104
TTM Technologies, Inc.*		3,629		55,778
Vishay Intertechnology, Inc.		5,100		95,880
Vishay Precision Group, Inc.*		300		7,320
Watts Water Technologies, Inc.		1,117		77,296
Woodward, Inc.		2,001		155,298
ZAGG, Inc.*		900		14,175

				1,847,274

Energy-Alternate Sources — 0.3%
Clean Energy Fuels Corp.*		6,800		16,864
FutureFuel Corp.		1,100		17,314
Green Plains, Inc.		1,467		29,560
Pacific Ethanol, Inc.*		900		4,995
Pattern Energy Group, Inc.		2,600		62,660
Plug Power, Inc.*		6,800		17,748
Renewable Energy Group, Inc.*		1,600		19,440
REX American Resources Corp.*		192		18,015
Sunrun, Inc.*		2,700		14,985
TerraForm Global, Inc., Class A*		3,600		17,100
TerraForm Power, Inc., Class A*		3,000		39,660
TPI Composites, Inc.*		400		8,936
Vivint Solar, Inc.*		800		2,720

				269,997

Engineering & Construction — 1.4%
Aegion Corp.*		1,255		29,216
Argan, Inc.		536		36,046
Chicago Bridge & Iron Co. NV*		3,900		65,520
Dycom Industries, Inc.*		1,153		99,020


	Number of Shares		Value†
COMMON STOCKS — (continued)
Engineering & Construction — (continued)
EMCOR Group, Inc.		2,263	$	157,007
Exponent, Inc.		940		69,466
Granite Construction, Inc.		1,544		89,475
Hill International, Inc.*		1,500		7,125
IES Holdings, Inc.*		400		6,920
KBR, Inc.		5,200		92,976
Layne Christensen Co.*		700		8,785
MasTec, Inc.*		2,564		118,969
McDermott International, Inc.*		11,100		80,697
Mistras Group, Inc.*		800		16,400
MYR Group, Inc.*		683		19,902
NV5 Global, Inc.*		300		16,395
Orion Group Holdings, Inc.*		1,137		7,459
Sterling Construction Co., Inc.*		1,000		15,230
TopBuild Corp.*		1,400		91,238
Tutor Perini Corp.*		1,397		39,675
VSE Corp.		308		17,513

				1,085,034

Entertainment — 0.9%
AMC Entertainment Holdings, Inc., Class A		2,155		31,678
Churchill Downs, Inc.		520		107,224
Eldorado Resorts, Inc.*		1,800		46,170
Eros International PLC*		1,200		17,160
Golden Entertainment, Inc.*		500		12,190
International Speedway Corp., Class A		858		30,888
Marriott Vacations Worldwide Corp.		800		99,624
National CineMedia, Inc.		2,374		16,571
Penn National Gaming, Inc.*		3,200		74,848
Pinnacle Entertainment, Inc.*		1,982		42,236
RCI Hospitality Holdings, Inc.		400		9,900
Reading International, Inc., Class A*		700		11,004
Red Rock Resorts, Inc., Class A		2,700		62,532
Scientific Games Corp., Class A*		1,900		87,115
SeaWorld Entertainment, Inc.*		2,700		35,073
Speedway Motorsports, Inc.		316		6,731

				690,944

Environmental Control — 0.8%
Advanced Disposal Services, Inc.*		1,700		42,823
Advanced Emissions Solutions, Inc.		800		8,776
Aqua Metals, Inc.*		600		4,110
AquaVenture Holdings Ltd.*		400		5,400
Calgon Carbon Corp.		1,762		37,707
Casella Waste Systems, Inc., Class A*		1,500		28,200
CECO Environmental Corp.		1,309		11,074
Covanta Holding Corp.		4,600		68,310
Darling Ingredients, Inc.*		6,267		109,798
Energy Recovery, Inc.*		1,500		11,850
Heritage-Crystal Clean, Inc.*		600		13,050
Hudson Technologies, Inc.*		1,400		10,934
MSA Safety, Inc.		1,321		105,033
Tetra Tech, Inc.		2,164		100,734
U.S. Ecology, Inc.		842		45,299

				603,098

Food — 1.5%
Amplify Snack Brands, Inc.*		900		6,381


	Number of Shares		Value†

Food — (continued)
B&G Foods, Inc.		2,572	$	81,918
Cal-Maine Foods, Inc.*		1,246		51,211
Calavo Growers, Inc.		651		47,653
Dean Foods Co.		3,700		40,256
Fresh Del Monte Produce, Inc		1,316		59,825
Hostess Brands, Inc.*		3,100		42,346
Ingles Markets, Inc., Class A		604		15,523
J&J Snack Foods Corp.		596		78,255
John B Sanfilippo & Son, Inc.		300		20,193
Lancaster Colony Corp.		733		88,048
Lifeway Foods, Inc.*		87		774
Nutrisystem, Inc.		1,080		60,372
Performance Food Group Co.*		3,300		93,225
Sanderson Farms, Inc.		734		118,556
Seneca Foods Corp., Class A*		211		7,280
Smart & Final Stores, Inc.*		1,100		8,635
Snyder’s-Lance, Inc.		3,212		122,506
SpartanNash Co.		1,530		40,346
SUPERVALU, Inc.*		1,471		31,994
The Chefs’ Warehouse, Inc.*		750		14,475
Tootsie Roll Industries, Inc.		679		25,802
United Natural Foods, Inc.*		1,900		79,021
Village Super Market, Inc., Class A		268		6,630
Weis Markets, Inc.		366		15,921

				1,157,146

Forest Products & Paper — 0.3%
Clearwater Paper Corp.*		678		33,391
Deltic Timber Corp.		392		34,665
Neenah Paper, Inc.		674		57,661
Orchids Paper Products Co.*		400		5,632
P.H. Glatfelter Co.		1,659		32,267
Schweitzer-Mauduit International, Inc.		1,176		48,757

				212,373

Gas — 1.2%
Chesapeake Utilities Corp.		635		49,689
New Jersey Resources Corp.		3,364		141,793
Northwest Natural Gas Co.		1,050		67,620
ONE Gas, Inc.		2,000		147,280
RGC Resources, Inc.		400		11,428
South Jersey Industries, Inc.		3,080		106,352
Southwest Gas Holdings, Inc.		1,786		138,629
Spire, Inc.		1,756		131,085
WGL Holdings, Inc.		1,994		167,895

				961,771

Hand & Machine Tools — 0.3%
Franklin Electric Co., Inc.		1,670		74,900
Hardinge, Inc.*		700		10,689
Kennametal, Inc.		3,100		125,054
Milacron Holdings Corp.*		1,800		30,348

				240,991

Healthcare Products — 3.7%
Abaxis, Inc.		829		37,015
Accelerate Diagnostics, Inc.*		951		21,350
Accuray, Inc.*		2,738		10,952


	Number of Shares		Value†
COMMON STOCKS — (continued)
Healthcare Products — (continued)
Analogic Corp.		507	$	42,461
AngioDynamics, Inc.*		1,458		24,917
AtriCure, Inc.*		1,200		26,844
Atrion Corp.		53		35,616
AxoGen, Inc.*		1,200		23,220
BioTelemetry, Inc.*		1,100		36,300
Cantel Medical Corp.		1,375		129,484
Cardiovascular Systems, Inc.*		1,300		36,595
Cerus Corp.*		3,600		9,828
ConforMIS, Inc.*		1,600		5,632
CONMED Corp.		1,103		57,874
CryoLife, Inc.*		1,399		31,757
Cutera, Inc.*		500		20,675
Endologix, Inc.*		3,198		14,263
Entellus Medical, Inc.*		400		7,384
Exactech, Inc.*		509		16,772
FONAR Corp.*		200		6,100
GenMark Diagnostics, Inc.*		1,700		16,371
Genomic Health, Inc.*		709		22,752
Glaukos Corp.*		1,100		36,300
Globus Medical, Inc., Class A*		2,700		80,244
Haemonetics Corp.*		2,046		91,804
Halyard Health, Inc.*		1,800		81,054
ICU Medical, Inc.*		579		107,607
Inogen, Inc.*		600		57,060
Insulet Corp.*		2,246		123,710
Integer Holdings Corp.*		1,193		61,022
Integra LifeSciences Holdings Corp.*		2,452		123,777
Intersect ENT, Inc.*		1,100		34,265
Invacare Corp.		1,190		18,743
iRhythm Technologies, Inc.*		500		25,940
K2M Group Holdings, Inc.*		1,600		33,936
Lantheus Holdings, Inc.*		1,000		17,800
LeMaitre Vascular, Inc.		400		14,968
LivaNova PLC*		1,900		133,114
Luminex Corp.		1,653		33,605
Masimo Corp.*		1,704		147,498
Meridian Bioscience, Inc.		1,760		25,168
Merit Medical Systems, Inc.*		1,875		79,406
MiMedx Group, Inc.*		3,800		45,144
NanoString Technologies, Inc.*		600		9,696
Natus Medical, Inc.*		1,275		47,813
Nevro Corp.*		1,100		99,968
Novocure Ltd.*		2,100		41,685
NuVasive, Inc.*		2,006		111,253
NxStage Medical, Inc.*		2,584		71,318
Ocular Therapeutix, Inc.*		700		4,326
OraSure Technologies, Inc.*		2,201		49,523
Orthofix International NV*		671		31,705
Oxford Immunotec Global PLC*		1,000		16,800
Penumbra, Inc.*		1,100		99,330
Pulse Biosciences, Inc.*		400		7,444
Quidel Corp.*		1,051		46,097
Rockwell Medical, Inc.*		1,800		15,408
Sientra, Inc.*		500		7,700
STAAR Surgical Co.*		1,400		17,430


	Number of Shares		Value†

Healthcare Products — (continued)
Surmodics, Inc.*		373	$	11,563
Tactile Systems Technology, Inc.*		400		12,380
Utah Medical Products, Inc.		100		7,355
Varex Imaging Corp.*		1,500		50,760
ViewRay, Inc.*		1,100		6,336
Wright Medical Group NV*		3,904		100,996

				2,873,213

Healthcare Services — 1.7%
AAC Holdings, Inc.*		200		1,986
Addus HomeCare Corp.*		400		14,120
Almost Family, Inc.*		477		25,615
Amedisys, Inc.*		1,106		61,892
American Renal Associates Holdings, Inc.*		400		5,988
Capital Senior Living Corp.*		1,036		13,002
Catalent, Inc.*		4,800		191,616
Chemed Corp.		582		117,593
Civitas Solutions, Inc.*		400		7,380
Community Health Systems, Inc.*		3,600		27,648
Genesis Healthcare, Inc.*		1,861		2,159
HealthSouth Corp.		3,736		173,164
Invitae Corp.*		1,100		10,307
Kindred Healthcare, Inc.		3,374		22,943
LHC Group, Inc.*		582		41,275
Magellan Health, Inc.*		941		81,208
Medpace Holdings, Inc.*		300		9,570
Molina Healthcare, Inc.*		1,668		114,692
Natera, Inc.*		700		9,023
National HealthCare Corp.		406		25,403
RadNet, Inc.*		1,500		17,325
Select Medical Holdings Corp.*		4,100		78,720
Surgery Partners, Inc.*		700		7,245
Teladoc, Inc.*		2,100		69,615
Tenet Healthcare Corp.*		3,200		52,576
The Ensign Group, Inc.		1,880		42,469
Tivity Health, Inc.*		1,458		59,486
Triple-S Management Corp., Class B*		891		21,099
U.S. Physical Therapy, Inc.		491		30,172

				1,335,291

Holding Companies — 0.2%
FCB Financial Holdings, Inc., Class A*		1,400		67,620
HRG Group, Inc.*		4,575		71,416
National Bank Holdings Corp., Class A		1,000		35,690
Tiptree Financial, Inc., Class A		1,100		6,875

				181,601

Home Builders — 0.8%
Beazer Homes USA, Inc.*		1,424		26,686
Cavco Industries, Inc.*		301		44,413
Century Communities, Inc.*		500		12,350
Foundation Building Materials, Inc.*		500		7,070
Green Brick Partners, Inc.*		1,100		10,890
Hovnanian Enterprises, Inc., Class A*		4,810		9,283
Installed Building Products, Inc.*		800		51,840
KB Home		3,200		77,184
LGI Homes, Inc.*		600		29,142
M/I Homes, Inc.*		836		22,346


	Number of Shares		Value†
COMMON STOCKS — (continued)
Home Builders — (continued)
MDC Holdings, Inc.		1,575	$	52,306
Meritage Homes Corp.*		1,490		66,156
Tailored Brands, Inc.		1,956		28,245
Taylor Morrison Home Corp., Class A*		2,400		52,920
The New Home Co., Inc.*		600		6,696
TRI Pointe Group, Inc.*		5,700		78,717
William Lyon Homes, Class A*		1,000		22,990
Winnebago Industries, Inc.		1,122		50,209

				649,443

Home Furnishings — 0.5%
American Woodmark Corp.*		569		54,766
Bassett Furniture Industries, Inc.		300		11,310
Daktronics, Inc.		1,209		12,779
Ethan Allen Interiors, Inc.		1,028		33,307
Flexsteel Industries, Inc.		200		10,140
Hooker Furniture Corp.		500		23,875
iRobot Corp.*		982		75,673
Kimball International, Inc., Class B		1,244		24,594
La-Z-Boy, Inc.		1,962		52,778
Select Comfort Corp.*		1,572		48,811
Universal Electronics, Inc.*		600		38,040
VOXX International Corp.*		800		6,840

				392,913

Hotels & Resorts — 0.1%
Caesars Entertainment Corp.*		2,000		26,700
La Quinta Holdings, Inc.*		3,100		54,250

				80,950

Household Products & Wares — 0.4%
ACCO Brands Corp.*		4,393		52,277
Central Garden & Pet Co.*		500		19,420
Central Garden & Pet Co., Class A*		1,402		52,140
CSS Industries, Inc.		412		11,874
Helen of Troy Ltd.*		995		96,416
WD-40 Co.		546		61,097

				293,224

Housewares — 0.0%
Libbey, Inc.		800		7,408
Lifetime Brands, Inc.		400		7,320

				14,728

Insurance — 3.1%
Ambac Financial Group, Inc.*		1,700		29,342
American Equity Investment Life Holding Co.		3,276		95,266
AMERISAFE, Inc.		708		41,206
AmTrust Financial Services, Inc.		3,300		44,418
Argo Group International Holdings Ltd.		1,159		71,278
Atlas Financial Holdings, Inc.*		400		7,560
Baldwin & Lyons, Inc., Class B		325		7,329
Blue Capital Reinsurance Holdings Ltd.		300		4,935
Citizens, Inc.*		1,466		10,775
CNO Financial Group, Inc.		6,393		149,213
Crawford & Co., Class B		638		7,630
Donegal Group, Inc., Class A		283		4,565


	Number of Shares		Value†

Insurance — (continued)
eHealth, Inc.*		720	$	17,201
EMC Insurance Group, Inc.		450		12,667
Employers Holdings, Inc.		1,282		58,267
Enstar Group Ltd.*		413		91,831
Essent Group Ltd.*		3,000		121,500
FBL Financial Group, Inc., Class A		427		31,811
Federated National Holding Co.		500		7,805
Fidelity & Guaranty Life		500		15,525
Genworth Financial, Inc., Class A*		19,200		73,920
Global Indemnity Ltd.*		383		16,239
Greenlight Capital Re Ltd., Class A*		1,128		24,421
Hallmark Financial Services, Inc.*		255		2,961
HCI Group, Inc.		300		11,475
Health Insurance Innovations, Inc.*		400		5,800
Heritage Insurance Holdings, Inc.		800		10,568
Hilltop Holdings, Inc.		2,783		72,358
Horace Mann Educators Corp.		1,480		58,238
Independence Holding Co.		100		2,525
Infinity Property & Casualty Corp.		420		39,564
Investors Title Co.		39		6,984
Kemper Corp.		1,500		79,500
Kinsale Capital Group, Inc.		600		25,902
Maiden Holdings Ltd.		2,768		22,006
MBIA, Inc.*		4,700		40,890
MGIC Investment Corp.*		14,127		177,011
National General Holdings Corp.		2,000		38,220
National Western Life Group, Inc., Class A		95		33,155
NI Holdings, Inc.*		600		10,740
NMI Holdings, Inc., Class A*		2,100		26,040
Primerica, Inc.		1,700		138,635
Radian Group, Inc.		8,403		157,052
RLI Corp.		1,522		87,302
Safety Insurance Group, Inc.		582		44,407
Selective Insurance Group, Inc.		2,175		117,124
State Auto Financial Corp.		476		12,485
State National Cos., Inc.		1,000		20,990
Stewart Information Services Corp.		908		34,286
The Navigators Group, Inc.		790		46,096
Third Point Reinsurance Ltd.*		3,000		46,800
Trupanion, Inc.*		600		15,846
United Fire Group, Inc.		880		40,322
United Insurance Holdings Corp.		800		13,040
Universal Insurance Holdings, Inc.		1,251		28,773
WMIH Corp.*		8,700		8,265

				2,420,064

Internet — 2.5%
1-800-Flowers.com, Inc., Class A*		737		7,259
Angie’s List, Inc.*		1,600		19,936
Bankrate, Inc.*		1,923		26,826
Bazaarvoice, Inc.*		3,500		17,325
Blucora, Inc.*		1,496		37,849
Boingo Wireless, Inc.*		1,300		27,781
Box, Inc., Class A*		3,100		59,892
Brightcove, Inc.*		1,200		8,640
Cars.com, Inc.*		2,800		74,508
Carvana Co.*		600		8,808


	Number of Shares		Value†
COMMON STOCKS — (continued)
Internet — (continued)
ChannelAdvisor Corp.*		900	$	10,350
Chegg, Inc.*		3,600		53,424
Cogent Communications Holdings, Inc.		1,619		79,169
DHI Group, Inc.*		1,863		4,844
Endurance International Group Holdings, Inc.*		2,100		17,220
ePlus, Inc.*		490		45,300
Etsy, Inc.*		4,300		72,584
FTD Cos., Inc.*		818		10,667
Global Eagle Entertainment, Inc.*		1,500		5,130
Groupon, Inc.*		13,300		69,160
GrubHub, Inc.*		3,246		170,934
HealthStream, Inc.*		900		21,033
Imperva, Inc.*		1,300		56,420
Internap Corp.*		3,100		13,485
Limelight Networks, Inc.*		1,172		4,653
Liquidity Services, Inc.*		1,035		6,107
Meet Group, Inc.*		1,900		6,916
New Media Investment Group, Inc.		1,700		25,143
NIC, Inc.		2,629		45,087
Okta, Inc.*		400		11,284
Overstock.com, Inc.*		571		16,959
Perficient, Inc.*		1,245		24,489
Q2 Holdings, Inc.*		1,100		45,815
QuinStreet, Inc.*		1,815		13,340
Quotient Technology, Inc.*		2,700		42,255
Rapid7, Inc.*		800		14,080
RealNetworks, Inc.*		515		2,472
Reis, Inc.		400		7,200
RingCentral, Inc., Class A*		2,400		100,200
Safeguard Scientifics, Inc.*		850		11,348
Shutterfly, Inc.*		1,290		62,539
Shutterstock, Inc.*		800		26,632
Stamps.com, Inc.*		562		113,889
TechTarget, Inc.*		500		5,970
The Rubicon Project, Inc.*		1,200		4,668
The Trade Desk Inc., Class A*		900		55,359
TrueCar, Inc.*		2,300		36,317
Tucows, Inc.*		400		23,420
VASCO Data Security International, Inc.*		1,028		12,387
VirnetX Holding Corp.*		1,583		6,174
Web.com Group, Inc.*		1,500		37,500
XO Group, Inc.*		859		16,897
Yelp, Inc.*		3,000		129,900
Zendesk, Inc.*		3,800		110,618
Zix Corp.*		1,848		9,037

				1,947,199

Investment Companies — 0.1%
Arlington Asset Investment Corp., Class A		900		11,457
Caesars Acquisition Co., Class A*		1,900		40,755

				52,212

Iron & Steel — 0.6%
AK Steel Holding Corp.*		12,000		67,080
Allegheny Technologies, Inc.*		4,100		97,990
Carpenter Technology Corp.		1,800		86,454


	Number of Shares		Value†

Iron & Steel — (continued)
Cleveland-Cliffs, Inc.*		11,200	$	80,080
Commercial Metals Co.		4,500		85,635
Ryerson Holding Corp.*		800		8,680
Schnitzer Steel Industries, Inc., Class A		900		25,335
TimkenSteel Corp.*		1,400		23,100

				474,354

Leisure Time — 0.7%
Acushnet Holdings Corp.		1,100		19,536
Callaway Golf Co.		3,546		51,169
Camping World Holdings Inc., Class A		900		36,666
Drive Shack, Inc.*		2,400		8,664
Escalade, Inc.		600		8,160
Fox Factory Holding Corp.*		1,400		60,340
Johnson Outdoors, Inc., Class A		200		14,656
LCI Industries		891		103,222
Liberty TripAdvisor Holdings, Inc., Class A*		2,900		35,815
Lindblad Expeditions Holdings Inc.*		700		7,490
Malibu Boats, Inc., Class A*		600		18,984
Marine Products Corp.		88		1,413
MCBC Holdings, Inc.*		500		10,190
Nautilus, Inc.*		1,300		21,970
Planet Fitness, Inc., Class A		3,300		89,034
Vista Outdoor, Inc.*		2,200		50,468

				537,777

Lodging — 0.4%
Belmond Ltd., Class A*		3,445		47,024
Boyd Gaming Corp.		3,066		79,869
Century Casinos, Inc.*		1,100		9,031
ILG, Inc.		4,116		110,021
Monarch Casino & Resort, Inc.*		485		19,172
Red Lion Hotels Corp.*		800		6,920
The Marcus Corp.		633		17,534

				289,571

Machinery - Construction & Mining — 0.1%
Astec Industries, Inc.		798		44,696
Babcock & Wilcox Enterprises, Inc.*		1,900		6,327
Hyster-Yale Materials Handling, Inc.		344		26,295

				77,318

Machinery - Diversified — 0.9%
Alamo Group, Inc.		317		34,036
Albany International Corp., Class A		1,132		64,977
Altra Industrial Motion Corp.		1,003		48,244
Applied Industrial Technologies, Inc.		1,482		97,515
Briggs & Stratton Corp.		1,636		38,446
Chart Industries, Inc.*		1,177		46,174
Columbus McKinnon Corp.		685		25,941
DXP Enterprises, Inc.*		522		16,438
Gencor Industries, Inc.*		500		8,825
Hurco Cos., Inc.		200		8,320
Ichor Holdings Ltd.*		600		16,080
Intevac, Inc.*		800		6,760
Kadant, Inc.		399		39,321
Lindsay Corp.		353		32,441
NACCO Industries, Inc., Class A		122		10,468


	Number of Shares		Value†
COMMON STOCKS — (continued)
Machinery - Diversified — (continued)
SPX FLOW, Inc.*		1,500	$	57,840
Tennant Co.		736		48,723
The ExOne Co.*		500		5,680
The Gorman-Rupp Co.		751		24,460
The Manitowoc Co., Inc.*		5,300		47,700

				678,389

Media — 1.2%
Central European Media Enterprises Ltd., Class A*		3,100		12,555
Daily Journal Corp.*		41		8,963
Entercom Communications Corp., Class A		1,200		13,740
Entravision Communications Corp., Class A		2,800		15,960
Gannett Co., Inc.		4,800		43,200
Gray Television, Inc.*		2,600		40,820
Hemisphere Media Group, Inc.*		900		10,755
Houghton Mifflin Harcourt Co.*		3,900		46,995
Liberty Media Corp. - Liberty Braves, Class A*		500		12,685
Liberty Media Corp. - Liberty Braves, Class C*		1,300		32,851
Meredith Corp.		1,500		83,250
MSG Networks, Inc., Class A*		2,300		48,760
Nexstar Media Group, Inc., Class A		1,749		108,963
Saga Communications, Inc., Class A		133		6,065
Scholastic Corp.		1,156		43,003
Sinclair Broadcast Group, Inc., Class A		2,717		87,080
The E.W. Scripps Co., Class A*		2,329		44,507
The New York Times Co., Class A		4,821		94,492
Time, Inc.		3,800		51,300
TiVo Corp.		4,623		91,766
tronc, Inc.*		700		10,171
WideOpenWest, Inc.*		800		12,064
World Wrestling Entertainment, Inc., Class A		1,314		30,945

				950,890

Metal Fabricate/Hardware — 1.0%
Advanced Drainage Systems, Inc.		1,200		24,300
Ampco-Pittsburgh Corp.*		500		8,700
Atkore International Group, Inc.*		1,300		25,363
CIRCOR International, Inc.		635		34,563
Global Brass & Copper Holdings, Inc.		700		23,660
Haynes International, Inc.		564		20,253
L.B. Foster Co., Class A*		500		11,375
Lawson Products, Inc.*		400		10,080
Mueller Industries, Inc.		2,188		76,471
Mueller Water Products, Inc., Class A		6,192		79,258
NN, Inc.		1,000		29,000
Northwest Pipe Co.*		600		11,412
Olympic Steel, Inc.		231		5,082
Omega Flex, Inc.		59		4,238
RBC Bearings, Inc.*		859		107,504
Rexnord Corp.*		4,100		104,181
Sun Hydraulics Corp.		859		46,386
The Eastern Co.		300		8,610
TriMas Corp.*		1,795		48,465


	Number of Shares		Value†

Metal Fabricate/Hardware — (continued)
Worthington Industries, Inc.		1,784	$	82,064

				760,965

Mining — 0.7%
Century Aluminum Co.*		1,754		29,081
Coeur Mining, Inc.*		6,928		63,668
Compass Minerals International, Inc.		1,300		84,370
Fairmount Santrol Holdings, Inc.*		6,100		29,158
Ferroglobe Representation & Warranty Insurance Trust Units~		2,414		0
Gold Resource Corp.		2,400		9,000
Hecla Mining Co.		15,517		77,896
Kaiser Aluminum Corp.		616		63,534
Klondex Mines Ltd.*		6,900		25,116
Materion Corp.		857		36,980
Ring Energy, Inc.*		1,600		23,184
Smart Sand, Inc.*		700		4,746
United States Lime & Minerals, Inc.		29		2,436
Uranium Energy Corp.*		5,300		7,314
US Silica Holdings, Inc.		3,100		96,317

				552,800

Miscellaneous Manufacturing — 1.7%
Actuant Corp., Class A		2,406		61,594
American Outdoor Brands Corp.*		2,179		33,230
American Railcar Industries, Inc.		300		11,580
AZZ, Inc.		976		47,531
Barnes Group, Inc.		1,965		138,415
Chase Corp.		300		33,420
Core Molding Technologies, Inc.		300		6,582
EnPro Industries, Inc.		817		65,793
Fabrinet*		1,300		48,178
Federal Signal Corp.		2,343		49,859
FreightCar America, Inc.		570		11,149
GP Strategies Corp.*		400		12,340
Handy & Harman Ltd.*		200		6,510
Harsco Corp.*		3,200		66,880
Hillenbrand, Inc.		2,374		92,230
John Bean Technologies Corp.		1,229		124,252
Koppers Holdings, Inc.*		820		37,843
LSB Industries, Inc.*		749		5,947
Lydall, Inc.*		600		34,380
Movado Group, Inc.		460		12,880
Myers Industries, Inc.		625		13,094
NL Industries, Inc.*		90		823
Park-Ohio Holdings Corp.		400		18,240
Proto Labs, Inc.*		1,000		80,300
Raven Industries, Inc.		1,346		43,610
SPX Corp.*		1,700		49,878
Standex International Corp.		500		53,100
Sturm Ruger & Co., Inc.		719		37,172
Tredegar Corp.		1,061		19,098
Trinseo SA		1,700		114,070

				1,329,978

Office & Business Equipment — 0.0%
Eastman Kodak Co.*		800		5,880


	Number of Shares		Value†
COMMON STOCKS — (continued)
Office Furnishings — 0.4%
Herman Miller, Inc.		2,232	$	80,129
HNI Corp.		1,743		72,282
Interface, Inc.		2,395		52,451
Knoll, Inc.		1,953		39,060
Steelcase, Inc., Class A		3,531		54,377

				298,299

Oil & Gas — 1.6%
Abraxas Petroleum Corp.*		4,100		7,708
Adams Resources & Energy, Inc.		100		4,150
Atwood Oceanics, Inc.*		3,000		28,170
Bill Barrett Corp.*		2,025		8,687
Bonanza Creek Energy, Inc.*		800		26,392
California Resources Corp.*		1,400		14,644
Callon Petroleum Co.*		7,400		83,176
Carrizo Oil & Gas, Inc.*		2,965		50,791
Cobalt International Energy, Inc.*		1		1
Contango Oil & Gas Co.*		703		3,536
CVR Energy, Inc.		700		18,130
Delek US Holdings, Inc.		2,979		79,629
Denbury Resources, Inc.*		14,400		19,296
Diamond Offshore Drilling, Inc.*		2,500		36,250
Earthstone Energy, Inc., Class A*		700		7,693
Eclipse Resources Corp.*		1,400		3,500
Energy XXI Gulf Coast, Inc.*		1,200		12,408
Ensco PLC, Class A		11,900		71,043
EP Energy Corp., Class A*		1,800		5,868
Evolution Petroleum Corp.		1,200		8,640
Gastar Exploration, Inc.*		10,700		9,412
Halcon Resources Corp.*		4,900		33,320
Isramco, Inc.*		21		2,436
Jagged Peak Energy, Inc.*		2,200		30,052
Jones Energy, Inc., Class A*		3,262		6,263
Lilis Energy, Inc.*		1,700		7,599
Matador Resources Co.*		3,500		95,025
Midstates Petroleum Co. Inc.*		400		6,216
Noble Corp. PLC*		9,500		43,700
Oasis Petroleum, Inc.*		9,000		82,080
Panhandle Oil and Gas, Inc., Class A		634		15,089
Par Pacific Holdings, Inc.*		1,318		27,414
Parker Drilling Co.*		5,217		5,739
PDC Energy, Inc.*		2,412		118,260
Penn Virginia Corp.*		600		23,988
Resolute Energy Corp.*		800		23,752
Rowan Cos PLC, Class A*		4,600		59,110
Sanchez Energy Corp.*		2,700		13,014
SandRidge Energy, Inc.*		1,400		28,126
SilverBow Resources, Inc.*		300		7,365
Stone Energy Corp.*		800		23,248
Trecora Resources*		1,000		13,300
Ultra Petroleum Corp.*		7,600		65,892
Unit Corp.*		2,100		43,218
W&T Offshore, Inc.*		1,643		5,011
WildHorse Resource Development Corp.*		1,100		14,652

				1,292,993


	Number of Shares		Value†

Oil & Gas Services — 1.1%
Archrock, Inc.		2,600	$	32,630
Basic Energy Services, Inc.*		700		13,510
C&J Energy Services, Inc.*		1,800		53,946
CARBO Ceramics, Inc.*		800		6,904
Dril-Quip, Inc.*		1,500		66,225
Exterran Corp.*		1,300		41,093
Flotek Industries, Inc.*		2,000		9,300
Forum Energy Technologies, Inc.*		2,700		42,930
Frank’s International N.V.		1,900		14,668
Geospace Technologies Corp.*		476		8,482
Helix Energy Solutions Group, Inc.*		5,401		39,913
Independence Contract Drilling, Inc.*		1,100		4,180
Keane Group, Inc.*		1,500		25,020
Key Energy Services, Inc.*		400		5,268
Mammoth Energy Services, Inc.*		500		8,430
Matrix Service Co.*		987		15,002
MRC Global, Inc.*		3,400		59,466
Natural Gas Services Group, Inc.*		594		16,870
Ncs Multistage Holdings, Inc.*		400		9,632
Newpark Resources, Inc.*		3,512		35,120
NOW, Inc.*		4,300		59,383
Oil States International, Inc.*		2,100		53,235
Pioneer Energy Services Corp.*		2,650		6,758
ProPetro Holding Corp.*		1,000		14,350
SEACOR Holdings, Inc.*		600		27,666
SRC Energy, Inc.*		7,600		73,492
Superior Energy Services, Inc.*		6,000		64,080
Tesco Corp.*		1,400		7,630
TETRA Technologies, Inc.*		5,379		15,384
Thermon Group Holdings, Inc.*		1,100		19,789
Willbros Group, Inc.*		2,600		8,372

				858,728

Packaging and Containers — 0.2%
Greif, Inc., Class B		200		12,850
Greif, Inc., Class A		1,000		58,540
KapStone Paper and Packaging Corp.		3,240		69,628
UFP Technologies, Inc.*		300		8,430

				149,448

Pharmaceuticals — 3.8%
Achaogen, Inc.*		1,100		17,545
Aclaris Therapeutics, Inc.*		800		20,648
Adamas Pharmaceuticals, Inc.*		700		14,819
Aerie Pharmaceuticals, Inc.*		1,200		58,320
Aimmune Therapeutics, Inc.*		1,100		27,269
Akcea Therapeutics, Inc.*		600		16,602
Akebia Therapeutics, Inc.*		1,700		33,439
Amicus Therapeutics, Inc.*		6,300		95,004
Amphastar Pharmaceuticals, Inc.*		1,400		25,018
Anika Therapeutics, Inc.*		500		29,000
Antares Pharma, Inc.*		5,600		18,144
Aratana Therapeutics, Inc.*		900		5,517
Array BioPharma, Inc.*		6,248		76,850
Avexis, Inc.*		900		87,057
Axovant Sciences Ltd.*		1,200		8,256
BioScrip, Inc.*		4,411		12,130


	Number of Shares		Value†
COMMON STOCKS — (continued)
Pharmaceuticals — (continued)
BioSpecifics Technologies Corp.*		200	$	9,304
Calithera Biosciences, Inc.*		1,200		18,900
Cara Therapeutics, Inc.*		800		10,952
Catalyst Pharmaceuticals, Inc.*		2,800		7,056
Cempra, Inc.*		1,800		5,850
ChemoCentryx, Inc.*		1,000		7,420
Chimerix, Inc.*		1,700		8,925
Clovis Oncology, Inc.*		1,700		140,080
Collegium Pharmaceutical, Inc.*		400		4,196
Concert Pharmaceuticals, Inc.*		500		7,375
Corbus Pharmaceuticals Holdings Inc.*		1,700		12,155
Corcept Therapeutics, Inc.*		3,600		69,480
Depomed, Inc.*		2,283		13,219
Diplomat Pharmacy, Inc.*		1,900		39,349
Durect Corp.*		3,500		6,195
Eagle Pharmaceuticals, Inc.*		300		17,892
Enanta Pharmaceuticals, Inc.*		600		28,080
Esperion Therapeutics, Inc.*		600		30,072
FibroGen, Inc.*		2,500		134,500
Flexion Therapeutics, Inc.*		1,200		29,016
G1 Therapeutics, Inc.*		300		7,467
Global Blood Therapeutics, Inc.*		1,400		43,470
Heron Therapeutics, Inc.*		1,900		30,685
Heska Corp.*		200		17,618
Horizon Pharma PLC*		6,500		82,420
Ignyta, Inc.*		1,600		19,760
Immune Design Corp.*		400		4,140
Impax Laboratories, Inc.*		2,837		57,591
Insys Therapeutics, Inc.*		800		7,104
Intra-Cellular Therapies, Inc.*		1,400		22,092
Ironwood Pharmaceuticals, Inc.*		5,161		81,389
Jounce Therapeutics, Inc.*		400		6,232
Kala Pharmaceuticals, Inc.*		300		6,852
Keryx Biopharmaceuticals, Inc.*		3,500		24,850
Kindred Biosciences, Inc.*		1,400		10,990
La Jolla Pharmaceutical Co.*		700		24,346
Lannett Co., Inc.*		997		18,395
MannKind Corp.*		1		2
MediciNova, Inc.*		1,400		8,918
Minerva Neurosciences, Inc.*		800		6,080
MyoKardia, Inc.*		700		29,995
NantKwest, Inc.*		800		4,384
Natural Grocers by Vitamin Cottage, Inc.*		400		2,232
Natural Health Trends Corp.		300		7,170
Nature’s Sunshine Products, Inc.		200		2,030
Nektar Therapeutics*		5,533		132,792
Neogen Corp.*		1,402		108,599
Neos Therapeutics, Inc.*		400		3,660
Omega Protein Corp.		1,000		16,650
Pacira Pharmaceuticals, Inc.*		1,600		60,080
PharMerica Corp.*		1,220		35,746
Phibro Animal Health Corp., Class A		700		25,935
Portola Pharmaceuticals, Inc.*		2,100		113,463
PRA Health Sciences, Inc.*		1,900		144,723
Prestige Brands Holdings, Inc.*		2,072		103,786
Progenics Pharmaceuticals, Inc.*		2,601		19,143


	Number of Shares		Value†

Pharmaceuticals — (continued)
Protagonist Therapeutics, Inc.*		400	$	7,068
Ra Pharmaceuticals, Inc.*		500		7,300
Radius Health, Inc.*		1,500		57,825
Reata Pharmaceuticals, Inc., Class A*		300		9,330
Revance Therapeutics, Inc.*		700		19,285
Sarepta Therapeutics, Inc.*		2,300		104,328
SciClone Pharmaceuticals, Inc.*		2,277		25,502
Seres Therapeutics, Inc.*		800		12,832
Sucampo Pharmaceuticals, Inc., Class A*		871		10,278
Supernus Pharmaceuticals, Inc.*		1,800		72,000
Synergy Pharmaceuticals, Inc.*		7,600		22,040
Syros Pharmaceuticals, Inc.*		500		7,360
Teligent, Inc.*		1,800		12,078
Tetraphase Pharmaceuticals, Inc.*		1,200		8,208
TG Therapeutics, Inc.*		2,000		23,700
TherapeuticsMD, Inc.*		5,900		31,211
Trevena, Inc.*		2,000		5,100
USANA Health Sciences, Inc.*		448		25,850
Vanda Pharmaceuticals, Inc.*		1,441		25,794
Voyager Therapeutics, Inc.*		300		6,177
Xencor, Inc.*		1,300		29,796
Zogenix, Inc.*		1,175		41,184
Zynerba Pharmaceuticals, Inc.*		400		3,344

				3,004,013

Pipelines — 0.2%
Primoris Services Corp.		1,490		43,836
SemGroup Corp., Class A		2,500		71,875
Tellurian, Inc.*		2,200		23,496

				139,207

Publishing / Newspapers — 0.1%
Cimpress NV*		900		87,894

Real Estate — 0.6%
Alexander & Baldwin, Inc.		1,800		83,394
AV Homes, Inc.*		595		10,204
Community Healthcare Trust, Inc.		600		16,176
Consolidated-Tomoka Land Co.		124		7,449
Farmland Partners, Inc.		1,400		12,656
Forestar Group, Inc.*~		1,463		25,164
Four Corners Property Trust, Inc		2,500		62,300
FRP Holdings, Inc.*		169		7,647
HFF, Inc., Class A		1,500		59,340
Kennedy-Wilson Holdings, Inc.		3,281		60,863
KKR Real Estate Finance Trust Inc.		400		8,416
Marcus & Millichap, Inc.*		500		13,495
RE/MAX Holdings, Inc., Class A		700		44,485
Redfin Corp.*		400		10,036
Safety Income and Growth, Inc.		400		7,456
Stratus Properties, Inc.		300		9,090
The RMR Group, Inc., Class A		267		13,710
The St. Joe Co.*		1,800		33,930
Trinity Place Holdings, Inc.*		900		6,318

				492,129

Retail — 4.3%
Abercrombie & Fitch Co., Class A		2,800		40,432


	Number of Shares		Value†
COMMON STOCKS — (continued)
Retail — (continued)
America’s Car-Mart, Inc.*		227	$	9,335
American Eagle Outfitters, Inc.		6,300		90,090
Asbury Automotive Group, Inc.*		649		39,654
Ascena Retail Group, Inc.*		6,713		16,447
At Home Group, Inc.*		100		2,284
Barnes & Noble Education, Inc.*		1,737		11,308
Barnes & Noble, Inc.		2,600		19,760
Big 5 Sporting Goods Corp.		581		4,445
Big Lots, Inc.		1,700		91,069
Biglari Holdings, Inc.*		40		13,332
BJ’s Restaurants, Inc.*		920		28,014
Bloomin’ Brands, Inc.		3,500		61,600
BMC Stock Holdings, Inc.*		2,300		49,105
Bob Evans Farms, Inc.		742		57,512
Bojangles’, Inc.*		500		6,750
Boot Barn Holdings, Inc.*		400		3,560
Brinker International, Inc.		1,900		60,534
Buffalo Wild Wings, Inc.*		547		57,818
Build-A-Bear Workshop, Inc.*		700		6,405
Caleres, Inc.		1,654		50,480
Carrols Restaurant Group, Inc.*		1,113		12,132
Chico’s FAS, Inc.		5,300		47,435
Chuy’s Holdings, Inc.*		600		12,630
Citi Trends, Inc.		503		9,995
Conn’s, Inc.*		704		19,817
Cracker Barrel Old Country Store, Inc.		724		109,773
Dave & Buster’s Entertainment, Inc.*		1,600		83,968
Del Frisco’s Restaurant Group, Inc.*		1,000		14,550
Del Taco Restaurants, Inc.*		1,100		16,874
Denny’s Corp.*		2,752		34,262
Dillard’s, Inc., Class A		600		33,642
DineEquity, Inc.		671		28,839
DSW, Inc.		2,500		53,700
Duluth Holdings, Inc., Class B*		500		10,145
El Pollo Loco Holdings, Inc.*		900		10,935
Express, Inc.*		3,154		21,321
EZCORP, Inc., Class A*		1,766		16,777
Fiesta Restaurant Group, Inc.*		1,013		19,247
FirstCash, Inc.		1,839		116,133
Five Below, Inc.*		2,100		115,248
Francesca’s Holdings Corp.*		1,658		12,203
Fred’s, Inc., Class A		1,431		9,216
Freshpet, Inc.*		700		10,955
Genesco, Inc.*		795		21,147
GMS, Inc.*		900		31,860
GNC Holdings, Inc., Class A*		2,800		24,752
Group 1 Automotive, Inc.		807		58,475
Guess?, Inc.		2,400		40,872
Haverty Furniture Cos., Inc.		750		19,612
Hibbett Sports, Inc.*		955		13,609
HSN, Inc.		1,279		49,945
J. Alexander’s Holding, Inc.*		483		5,603
J. Jill, Inc.*		800		8,712
J.C. Penney Co., Inc.*		12,100		46,101
Jack in the Box, Inc.		1,114		113,539
Kirkland’s, Inc.*		827		9,453


	Number of Shares		Value†

Retail — (continued)
Lands’ End, Inc.*		700	$	9,240
Lithia Motors, Inc., Class A		894		107,557
Lumber Liquidators Holdings, Inc.*		1,033		40,266
MarineMax, Inc.*		1,000		16,550
Nathan’s Famous, Inc.*		100		7,395
Noodles & Co.*		300		1,320
Office Depot, Inc.		19,900		90,346
Ollie’s Bargain Outlet Holdings, Inc.*		1,900		88,160
Papa John’s International, Inc.		1,010		73,801
Party City Holdco, Inc.*		1,200		16,260
PC Connection, Inc.		565		15,927
PetMed Express, Inc.		713		23,636
Pier 1 Imports, Inc.		3,644		15,268
PMC, Inc.*		400		5,600
Potbelly Corp.*		1,000		12,400
PriceSmart, Inc.		831		74,167
Red Robin Gourmet Burgers, Inc.*		520		34,840
Regis Corp.*		1,332		19,008
RH*		800		56,256
Ruby Tuesday, Inc.*		2,213		4,736
Rush Enterprises, Inc., Class A*		1,135		52,539
Rush Enterprises, Inc., Class B*		300		13,086
Ruth’s Hospitality Group, Inc.		1,195		25,035
Sears Holding Corp.*		500		3,650
Shake Shack, Inc., Class A*		900		29,907
Shoe Carnival, Inc.		458		10,250
Sonic Automotive, Inc., Class A		1,134		23,133
Sonic Corp.		1,532		38,989
Sportsman’s Warehouse Holdings, Inc.*		600		2,706
Systemax, Inc.		262		6,925
Texas Roadhouse, Inc.		2,570		126,290
The Buckle, Inc.		1,049		17,676
The Cato Corp., Class A		1,104		14,606
The Cheesecake Factory, Inc.		1,716		72,278
The Children’s Place, Inc.		694		81,996
The Container Store Group, Inc.*		600		2,526
The Finish Line, Inc., Class A		1,793		21,570
The Habit Restaurants, Inc., Class A*		1,000		13,050
Tile Shop Holdings, Inc.		1,300		16,510
Tilly’s, Inc., Class A		400		4,796
Vera Bradley, Inc.*		800		7,048
Vitamin Shoppe, Inc.*		1,000		5,350
Wingstop, Inc.		1,100		36,575
Winmark Corp.		100		13,175
Zoe’s Kitchen, Inc.*		700		8,841
Zumiez, Inc.*		703		12,724

				3,357,375

Savings & Loans — 2.0%
Astoria Financial Corp.		3,701		79,572
Banc of California, Inc.		1,700		35,275
Bank Mutual Corp.		1,632		16,565
BankFinancial Corp.		609		9,677
Bear State Financial, Inc.		800		8,208
Beneficial Bancorp, Inc.		2,773		46,032
Berkshire Hills Bancorp, Inc.		1,502		58,203
BofI Holding, Inc.*		2,400		68,328


	Number of Shares		Value†
COMMON STOCKS — (continued)
Savings & Loans — (continued)
Brookline Bancorp, Inc.		2,922	$	45,291
BSB Bancorp, Inc.*		300		8,985
Capitol Federal Financial, Inc.		5,100		74,970
Charter Financial Corp.		700		12,971
Clifton Bancorp, Inc.		646		10,801
Community Bankers Trust Corp.*		1,300		11,960
Dime Community Bancshares, Inc.		1,230		26,445
Entegra Financial Corp.*		400		9,980
ESSA Bancorp, Inc.		500		7,850
First Defiance Financial Corp.		300		15,747
First Financial Northwest, Inc.		100		1,699
Flagstar Bancorp, Inc.*		800		28,384
Flushing Financial Corp.		1,138		33,821
Home Bancorp, Inc.		300		12,546
HomeStreet, Inc.*		1,000		27,000
HomeTrust Bancshares, Inc.*		500		12,825
Investors Bancorp, Inc.		10,155		138,514
Malvern Bancorp, Inc.*		400		10,700
Meridian Bancorp, Inc.		1,874		34,950
Meta Financial Group, Inc.		300		23,520
MutualFirst Financial, Inc.		300		11,535
Northfield Bancorp, Inc.		1,793		31,109
Northwest Bancshares, Inc.		3,775		65,194
OceanFirst Financial Corp.		1,227		33,730
Oritani Financial Corp.		1,718		28,862
Pacific Premier Bancorp, Inc.*		1,516		57,229
Provident Financial Holdings, Inc.		300		5,880
Provident Financial Services, Inc.		2,403		64,088
SI Financial Group, Inc.		500		7,475
Southern Missouri Bancorp, Inc.		300		10,947
Sterling Bancorp, Inc.		5,114		126,060
Territorial Bancorp, Inc.		243		7,672
United Community Financial Corp.		1,700		16,320
United Financial Bancorp, Inc.		2,131		38,976
Washington Federal, Inc.		3,400		114,410
Waterstone Financial, Inc.		1,000		19,500
WSFS Financial Corp.		1,071		52,211

				1,562,017

Semiconductors — 2.9%
Alpha & Omega Semiconductor Ltd.*		900		14,841
Ambarella, Inc.*		1,300		63,713
Amkor Technology, Inc.*		4,011		42,316
Axcelis Technologies, Inc.*		1,025		28,034
AXT, Inc.*		1,500		13,725
Brooks Automation, Inc.		2,677		81,274
Cabot Microelectronics Corp.		961		76,813
CEVA, Inc.*		871		37,279
Cirrus Logic, Inc.*		2,481		132,287
Cohu, Inc.		904		21,551
Cree, Inc.*		3,800		107,122
Diodes, Inc.*		1,399		41,872
DSP Group, Inc.*		557		7,241
EMCORE Corp.*		1,200		9,840
Entegris, Inc.*		5,370		154,925
FormFactor, Inc.*		2,629		44,299
Gerber Scientific, Inc. Escrow Shares~		500		0


	Number of Shares		Value†

Semiconductors — (continued)
Impinj, Inc.*		700	$	29,127
Inphi Corp.*		1,600		63,504
Integrated Device Technology, Inc.*		5,093		135,372
IXYS Corp.*		766		18,154
Kopin Corp.*		1,507		6,284
Lattice Semiconductor Corp.*		4,924		25,654
MACOM Technology Solutions Holdings, Inc.*		1,622		72,357
MaxLinear, Inc., Class A*		2,243		53,271
MKS Instruments, Inc.		2,096		197,967
Monolithic Power Systems, Inc.		1,488		158,546
Nanometrics, Inc.*		900		25,920
Photronics, Inc.*		2,692		23,824
Power Integrations, Inc.		1,095		80,154
Rambus, Inc.*		4,423		59,047
Rudolph Technologies, Inc.*		1,054		27,720
Semtech Corp.*		2,509		94,213
Sigma Designs, Inc.*		1,200		7,560
Silicon Laboratories, Inc.*		1,600		127,840
SMART Global Holdings, Inc.*		800		21,424
Synaptics, Inc.*		1,416		55,479
Ultra Clean Holdings, Inc.*		1,300		39,806
Veeco Instruments, Inc.*		1,654		35,396
Xcerra Corp.*		2,466		24,290
Xperi Corp.		1,823		46,122

				2,306,163

Software — 4.6%
2U, Inc.*		1,700		95,268
ACI Worldwide, Inc.*		4,527		103,125
Actua Corp.*		1,028		15,728
Acxiom Corp.*		2,967		73,107
Allscripts Healthcare Solutions, Inc.*		7,100		101,033
Alteryx, Inc., Class A*		500		10,185
Amber Road, Inc.*		600		4,608
American Software, Inc., Class A		1,193		13,553
Appfolio, Inc., Class A*		300		14,385
Apptio, Inc., Class A*		700		12,929
Aspen Technology, Inc.*		2,853		179,197
Avid Technology, Inc.*		1,100		4,994
Benefitfocus, Inc.*		600		20,190
Blackbaud, Inc.		1,850		162,430
Blackline, Inc.*		600		20,472
Bottomline Technologies, Inc.*		1,545		49,177
BroadSoft, Inc.*		1,161		58,398
Callidus Software, Inc.*		2,400		59,160
Castlight Health, Inc., Class B*		1,200		5,160
Cloudera, Inc.*		500		8,310
CommerceHub, Inc.*		500		11,285
CommerceHub, Inc.*		1,100		23,485
CommVault Systems, Inc.*		1,548		94,118
Computer Programs & Systems, Inc.		447		13,209
Cornerstone OnDemand, Inc.*		2,000		81,220
Coupa Software, Inc.*		1,200		37,380
CSG Systems International, Inc.		1,281		51,368
Digi International, Inc.*		1,157		12,264
Donnelley Financial Solutions, Inc.*		1,000		21,560


	Number of Shares		Value†
COMMON STOCKS — (continued)
Software — (continued)
Ebix, Inc.		936	$	61,074
Envestnet, Inc.*		1,713		87,363
Everbridge, Inc.*		500		13,210
Evolent Health, Inc., Class A*		2,000		35,600
Exa Corp.*		700		16,926
Fair Isaac Corp.*		1,188		166,914
Five9, Inc.*		2,000		47,800
Glu Mobile, Inc.*		4,000		15,040
Hortonworks, Inc.*		1,700		28,815
HubSpot, Inc.*		1,300		109,265
InnerWorkings, Inc.*		1,724		19,395
Inovalon Holdings, Inc.*		2,500		42,625
Instructure, Inc.*		800		26,520
ManTech International Corp., Class A		1,039		45,872
Medidata Solutions, Inc.*		2,188		170,795
MicroStrategy, Inc., Class A*		375		47,891
MINDBODY, Inc., Class A*		1,400		36,190
MobileIron, Inc.*		2,700		9,990
Model N, Inc.*		1,100		16,445
Monotype Imaging Holdings, Inc.		1,599		30,781
MuleSoft, Inc.*		600		12,084
New Relic, Inc.*		1,100		54,780
Omnicell, Inc.*		1,435		73,257
Park City Group, Inc.*		700		8,505
Paycom Software, Inc.*		1,900		142,424
PDF Solutions, Inc.*		1,200		18,588
pdvWireless, Inc.*		300		8,940
Pegasystems, Inc.		1,460		84,169
Planet Payment, Inc.*		2,000		8,580
Progress Software Corp.		1,726		65,882
Proofpoint, Inc.*		1,700		148,274
PROS Holdings, Inc.*		917		22,127
QAD, Inc., Class A		392		13,465
Quality Systems, Inc.*		2,204		34,669
RealPage, Inc.*		2,200		87,780
Rosetta Stone, Inc.*		1,000		10,210
SPS Commerce, Inc.*		700		39,697
Synchronoss Technologies, Inc.*		1,646		15,357
SYNNEX Corp.		1,094		138,402
Tabula Rasa HealthCare, Inc.*		400		10,696
Twilio, Inc.*		2,400		71,640
Upland Software, Inc.*		300		6,348
Verint Systems, Inc.*		2,395		100,231
Workiva, Inc.*		900		18,765

				3,580,679

Storage & Warehousing — 0.1%
Mobile Mini, Inc.		1,777		61,218
Wesco Aircraft Holdings, Inc.*		2,240		21,056

				82,274

Telecommunications — 2.8%
8X8, Inc.*		3,400		45,900
Acacia Communications, Inc.*		700		32,970
ADTRAN, Inc.		1,905		45,720
Aerohive Networks, Inc.*		1,300		5,317
Anixter International, Inc.*		1,134		96,390


	Number of Shares		Value†

Telecommunications — (continued)
ATN International, Inc.		449	$	23,662
CalAmp Corp.*		1,400		32,550
Calix, Inc.*		1,487		7,509
Ciena Corp.*		5,500		120,835
Cincinnati Bell, Inc.*		1,557		30,906
Clearfield, Inc.*		400		5,440
Comtech Telecommunications Corp.		652		13,386
Consolidated Communications Holdings, Inc.		2,571		49,055
DigitalGlobe, Inc.*		2,369		83,507
Extreme Networks, Inc.*		4,147		49,308
Finisar Corp.*		4,221		93,580
Frontier Communications Corp.		3,073		36,231
General Communication, Inc., Class A*		886		36,140
Gigamon, Inc.*		1,300		54,795
Globalstar, Inc.*		14,900		24,287
Gogo, Inc.*		2,200		25,982
GTT Communications, Inc.*		1,100		34,815
Harmonic, Inc.*		2,870		8,754
Hawaiian Telcom Holdco, Inc.*		200		5,964
HC2 Holdings, Inc.*		700		3,696
IDT Corp., Class B		800		11,264
Infinera Corp.*		5,194		46,071
Intelsat SA*		1,200		5,640
InterDigital, Inc.		1,294		95,432
Iridium Communications, Inc.*		3,500		36,050
j2 Global, Inc.		1,774		131,063
Knowles Corp.*		3,452		52,712
KVH Industries, Inc.*		354		4,230
Loral Space & Communications, Inc.*		546		27,027
Lumos Networks Corp.*		782		14,013
NeoPhotonics Corp.*		1,300		7,228
NETGEAR, Inc.*		1,229		58,500
Oclaro, Inc.*		6,500		56,095
ORBCOMM, Inc.*		2,700		28,269
Plantronics, Inc.		1,167		51,605
Preformed Line Products Co.		45		3,029
Quantenna Communications, Inc.*		800		13,448
RigNet, Inc.*		500		8,600
Shenandoah Telecommunications Co.		1,718		63,910
Sonus Networks, Inc.*		1,843		14,099
Spok Holdings, Inc.		612		9,394
Straight Path Communications, Inc., Class B*		355		64,138
Telenav, Inc.*		1,000		6,350
Ubiquiti Networks, Inc.*		900		50,418
ViaSat, Inc.*		2,062		132,628
Viavi Solutions, Inc.*		8,800		83,248
Vonage Holdings Corp.*		7,500		61,050
West Corp.		1,700		39,899
Windstream Holdings, Inc.*		6,785		12,009

				2,154,118

Textiles — 0.1%
Culp, Inc.		500		16,375


	Number of Shares		Value†
COMMON STOCKS — (continued)
Textiles — (continued)
UniFirst Corp.		577	$	87,416

				103,791

Transportation — 1.5%
Air Transport Services Group, Inc.*		2,085		50,749
ArcBest Corp.		995		33,283
Ardmore Shipping Corp.*		800		6,600
Atlas Air Worldwide Holdings, Inc.*		848		55,798
Bristow Group, Inc.*		1,350		12,622
CAI International, Inc.*		660		20,011
Costamare, Inc.		1,200		7,416
Covenant Transportation Group, Inc., Class A*		400		11,592
Daseke, Inc.*		800		10,440
DHT Holdings, Inc.		3,900		15,522
Dorian LPG Ltd.*		900		6,138
Eagle Bulk Shipping, Inc.*		1,500		6,795
Echo Global Logistics, Inc.*		1,000		18,850
Era Group, Inc.*		800		8,952
Forward Air Corp.		1,196		68,447
Frontline Ltd.		2,800		16,912
GasLog Ltd.		1,700		29,665
Gener8 Maritime, Inc.*		900		4,059
Golar LNG Ltd.		3,800		85,918
Heartland Express, Inc.		1,967		49,332
Hub Group, Inc., Class A*		1,243		53,387
International Seaways, Inc.*		1,133		22,320
Knight-Swift Transportation Holdings, Inc.*		4,680		194,454
Marten Transport Ltd.		1,451		29,818
Matson, Inc.		1,600		45,088
Navios Maritime Acquisition Corp.		3,700		4,514
Nordic American Tankers Ltd.		3,567		19,048
Overseas Shipholding Group, Inc., Class A*		1,600		4,208
PHI, Inc.*		593		6,974
Radiant Logistics, Inc.*		1,000		5,310
Roadrunner Transportation Systems, Inc.*		1,000		9,530
Saia, Inc.*		961		60,207
Schneider National, Inc., Class B		1,300		32,890
Scorpio Bulkers, Inc.*		2,600		18,330
Scorpio Tankers, Inc.		7,100		24,353
Ship Finance International Ltd.		2,284		33,118
Teekay Corp.		1,900		16,967
Teekay Tankers Ltd., Class A		3,193		5,173
Universal Logistics Holdings, Inc.		100		2,045
Werner Enterprises, Inc.		1,752		64,036
YRC Worldwide, Inc.*		1,300		17,940

				1,188,811

Trucking and Leasing — 0.2%
GATX Corp.		1,500		92,340
Textainer Group Holdings Ltd.*		812		13,926
The Greenbrier Cos., Inc.		1,047		50,413

				156,679

Water — 0.4%
American States Water Co.		1,424		70,132
Artesian Resources Corp., Class A		313		11,831
California Water Service Group		1,866		71,188


	Number of Shares		Value†

Water — (continued)
Connecticut Water Service, Inc.		419	$	24,847
Consolidated Water Co. Ltd.		800		10,240
Middlesex Water Co.		531		20,852
PICO Holdings, Inc.*		792		13,227
SJW Group		688		38,941
The York Water Co.		597		20,238

				281,496

TOTAL COMMON STOCKS (Cost $50,212,302)				72,156,482

REAL ESTATE INVESTMENT TRUSTS — 7.4%
Apartments — 0.4%
Bluerock Residential Growth REIT, Inc.		600		6,636
Education Realty Trust, Inc.		2,901		104,233
Independence Realty Trust, Inc.		2,692		27,378
Preferred Apartment Communities, Inc., Class A		1,400		26,432
Starwood Waypoint Homes		4,900		178,213

				342,892

Building & Real Estate — 0.8%
Agree Realty Corp.		996		48,884
Altisource Residential Corp.		2,200		24,442
Anworth Mortgage Asset Corp.		3,731		22,423
Apollo Commercial Real Estate Finance, Inc.		3,756		68,021
Ares Commercial Real Estate Corp.		1,000		13,310
Capstead Mortgage Corp.		3,475		33,534
CYS Investments, Inc.		5,856		50,596
Dynex Capital, Inc.		2,307		16,772
Getty Realty Corp.		1,169		33,445
Invesco Mortgage Capital, Inc.		4,407		75,492
iStar, Inc.*		2,718		32,072
New York Mortgage Trust, Inc.		4,700		28,905
PennyMac Mortgage Investment Trust		2,692		46,814
Redwood Trust, Inc.		2,777		45,237
Resource Capital Corp.		1,175		12,667
Select Income REIT		2,400		56,208

				608,822

Diversified — 0.8%
AG Mortgage Investment Trust, Inc.		1,188		22,857
Armada Hoffler Properties, Inc.		1,400		19,334
CatchMark Timber Trust, Inc., Class A		1,300		16,393
Clipper Realty, Inc.		600		6,426
CorEnergy Infrastructure Trust, Inc.		500		17,675
Cousins Properties, Inc.		15,570		145,424
NexPoint Residential Trust, Inc.		600		14,238
NorthStar Realty Europe Corp.		2,100		26,901
PS Business Parks, Inc.		765		102,128
STAG lndustrial, Inc.		3,300		90,651
The GEO Group, Inc.		4,752		127,829
Tier REIT, Inc.		2,000		38,600
UMH Properties, Inc.		968		15,052
Whitestone REIT		1,400		18,270

				661,778


	Number of Shares		Value†
REAL ESTATE INVESTMENT TRUSTS — (continued)
Diversified Financial Services — 0.1%
ARMOUR Residential REIT, Inc.		1,375	$	36,987
Cherry Hill Mortgage Investment Corp.		500		9,050
Great Ajax Corp.		600		8,454
Orchid Island Capital, Inc.		1,200		12,228
Owens Realty Mortgage, Inc.		500		9,105
RAIT Financial Trust		3,606		2,632
Sutherland Asset Management Corp.		700		10,990
Western Asset Mortgage Capital Corp.		1,597		16,721

				106,167

Forest Products & Paper — 0.1%
Potlatch Corp.		1,578		80,478

Healthcare — 1.0%
CareTrust REIT, Inc.		2,795		53,217
Global Medical REIT, Inc.		900		8,082
Healthcare Realty Trust, Inc.		4,572		147,858
LTC Properties, Inc.		1,517		71,269
MedEquities Realty Trust, Inc.		1,100		12,925
National Health Investors, Inc.		1,557		120,340
New Senior Investment Group, Inc.		2,700		24,705
Physicians Realty Trust		6,900		122,337
Quality Care Properties, Inc.*		3,700		57,350
Sabra Health Care REIT, Inc.		6,094		133,700
Universal Health Realty Income Trust		520		39,255

				791,038

Hotels & Resorts — 1.2%
Ashford Hospitality Prime, Inc.		987		9,377
Ashford Hospitality Trust, Inc.		3,020		20,144
Chatham Lodging Trust		1,400		29,848
Chesapeake Lodging Trust		2,389		64,431
DiamondRock Hospitality Co.		7,723		84,567
Hersha Hospitality Trust		1,517		28,322
LaSalle Hotel Properties		4,417		128,181
Pebblebrook Hotel Trust		2,609		94,289
RLJ Lodging Trust		6,480		142,560
Ryman Hospitality Properties, Inc.		1,712		106,983
Summit Hotel Properties, Inc.		4,000		63,960
Sunstone Hotel Investors, Inc.		8,747		140,564

				913,226

Industrial — 1.0%
EastGroup Properties, Inc.		1,275		112,353
First Industrial Realty Trust, Inc.		4,429		133,269
First Potomac Realty Trust*		2,392		26,647
Gramercy Property Trust		5,739		173,605
InfraREIT, Inc.*		1,700		38,029
Monmouth Real Estate Investment Corp., Class A		2,649		42,887
QTS Realty Trust, Inc., Class A		1,743		91,263
Rexford Industrial Realty, Inc.		2,600		74,412
Terreno Realty Corp.		1,875		67,838

				760,303

Mixed Industrial/Office — 0.4%
Axon Enterprise, Inc.*		2,011		45,589
Gladstone Commercial Corp.		1,052		23,428


	Number of Shares		Value†

Mixed Industrial/Office — (continued)
Investors Real Estate Trust		4,618	$	28,216
Lexington Realty Trust		8,515		87,023
One Liberty Properties, Inc.		503		12,253
Washington Real Estate Investment Trust		3,006		98,477

				294,986

Office Property — 0.4%
American Assets Trust, Inc.		1,600		63,632
City Office REIT, Inc.		900		12,393
Easterly Government Properties, Inc.		1,300		26,871
Franklin Street Properties Corp.		4,045		42,958
Government Properties Income Trust		3,644		68,398
Mack-Cali Realty Corp.		3,500		82,985
Parkway, Inc.		1,746		40,210

				337,447

Real Estate — 0.2%
Global Net Lease, Inc.		2,633		57,636
Xenia Hotels & Resorts, Inc.		4,200		88,410

				146,046

Regional Malls — 0.2%
CBL & Associates Properties, Inc.		6,900		57,891
MTGE Investment Corp.		1,743		33,814
Pennsylvania Real Estate Investment Trust		2,715		28,481
Washington Prime Group, Inc.		7,000		58,310

				178,496

Storage & Warehousing — 0.1%
Jernigan Capital, Inc.		400		8,220
National Storage Affiliates Trust		1,800		43,632

				51,852

Strip Centers — 0.7%
Acadia Realty Trust		3,120		89,294
Alexander’s, Inc.		86		36,472
Cedar Realty Trust, Inc.		2,826		15,882
Kite Realty Group Trust		3,251		65,833
Ramco-Gershenson Properties Trust		3,141		40,865
Retail Opportunity Investments Corp.		4,300		81,743
Saul Centers, Inc.		351		21,730
Seritage Growth Properties		1,000		46,070
Urban Edge Properties		3,800		91,656
Urstadt Biddle Properties, Inc., Class A		1,216		26,387

				515,932

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $4,894,806)				5,789,463

RIGHTS — 0.0%
Chelsea Therapeutics International Ltd. CVR~		1,600		0
Cubist Pharmaceuticals, Inc.~		1,200		0
Durata Therapeutics CVR Shares~		500		0
Dyax Corp. CVR*~		5,620		13,769
Media General CVR~		4,400		440


	Number of Shares		Value†
RIGHTS — (continued)
Tobira Therapeutic, Inc. CVR~		400	$	4,708

TOTAL RIGHTS (Cost $152)				18,917


	Par (000)		Value†
U.S. TREASURY OBLIGATIONS — 0.0%¤
U.S. Treasury Bill
0.778%, 02/01/18		24		23,913
1.064%, 12/07/17		3		2,995

TOTAL U.S. TREASURY OBLIGATIONS (Cost $26,908)				26,908


	Number of Shares		Value†
SHORT-TERM INVESTMENTS — 0.6%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $496,518)		496,518		496,518

TOTAL INVESTMENTS — 100.3% (Cost $55,630,686)			$	78,488,288

Other Assets & Liabilities — (0.3)%				(260,456	)

TOTAL NET ASSETS — 100.0%			$	78,227,832

~	Fair valued security. The total market value of fair valued securities at September 30, 2017 is $44,081.

†	See Security Valuation Note.

*	Non-income producing security.

¤	Zero Coupon Bond. The interest rate disclosed represents the effective yield from the date of acquisition to maturity.

PLC — Public Limited Company.

CVR — Contingent Valued Rights.

REIT — Real Estate Investment Trust.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017		Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input		Level 3 Signi- ficant Unobser- vable
COMMON STOCKS	$	72,156,482	$	72,131,318	$	25,164	$	—
REAL ESTATE INVESTMENT TRUSTS		5,789,463		5,789,463		—		—
U.S. TREASURY OBLIGATIONS		26,908		26,908		—		—
RIGHTS		18,917		—		18,917		—
SHORT-TERM INVESTMENTS		496,518		496,518		—		—
TOTAL INVESTMENTS	$	78,488,288	$	78,444,207	$	44,081	$	—
OTHER FININCIAL INSTRUMENTS(1)
Futures Contracts	$	17,960	$	17,960	$	—	$	—

TOTAL ASSETS-OTHER FINANCIAL INSTRUMENTS	$	17,960	$	17,960	$	—	$	—

(1)	Other financial instruments are derivative instruments not reflected in the value of total investments in securities in the Schedule of Investments such as futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

Future Contracts:


Type	Futures Contract	Expiration Date		Number of Contracts		Units per Contract		Closing Price		Notional Value		Unrealized Appreciation		Unrealized Depreciation
Buy/Long	Russell 2000 Mini Index		12/31/2017		7		50	$	1,493	$	522,550	$	17,960	$	—

												$	17,960	$	—

The accompanying notes are an integral part of the financial statements.


	Number of Shares		Value†
COMMON STOCKS — 99.5%
Australia — 6.8%
AGL Energy Ltd.		5,276	$	96,717
Alumina Ltd.		15,918		27,469
Amcor Ltd.		9,071		108,224
AMP Ltd.		24,438		92,587
APA Group		8,753		57,330
Aristocrat Leisure Ltd.		4,196		69,118
ASX Ltd.		1,401		57,618
Aurizon Holdings Ltd.		15,495		59,556
AusNet Services		19,132		25,362
Australia & New Zealand Banking Group Ltd.		22,734		527,843
Bank of Queensland Ltd.		3,336		33,966
Bendigo & Adelaide Bank Ltd.		4,040		36,793
BHP Billiton Ltd.		25,265		510,905
BlueScope Steel Ltd.		4,455		38,335
Boral Ltd.		8,109		43,062
Brambles Ltd.		12,161		85,852
Caltex Australia Ltd.		2,100		52,876
Challenger Ltd/Australia		4,465		43,604
CIMIC Group Ltd.		829		28,748
Coca-Cola Amatil Ltd.		4,963		30,093
Cochlear Ltd.		418		52,202
Commonwealth Bank of Australia		13,471		795,130
Computershare Ltd.		3,381		38,375
Crown Resorts Ltd.		2,801		24,849
CSL Ltd.		3,584		376,600
Dexus		8,629		64,302
Domino’s Pizza Enterprises Ltd.		473		17,000
Flight Centre Travel Group Ltd.		439		15,499
Fortescue Metals Group Ltd.		13,816		55,704
Goodman Group		13,411		86,681
Harvey Norman Holdings Ltd.		3,235		9,846
Healthscope Ltd.		13,599		17,814
Incitec Pivot Ltd.		13,612		38,438
Insurance Australia Group Ltd.		19,230		96,085
LendLease Group		4,333		60,907
Macquarie Group Ltd.		2,525		180,077
Medibank Pvt. Ltd.		21,209		48,578
Mirvac Group		26,971		48,447
National Australia Bank Ltd.		20,894		516,261
Newcrest Mining Ltd.		6,279		103,529
Oil Search Ltd.		10,741		58,977
Orica Ltd.		2,861		44,367
Origin Energy Ltd.*		14,077		82,594
Qantas Airways Ltd.		2,415		11,044
QBE Insurance Group Ltd.		10,872		85,365
Ramsay Health Care Ltd.		1,058		51,686
REA Group Ltd.		400		21,022
Rio Tinto Ltd.		3,268		170,544
Santos Ltd.*		12,884		40,627
Scentre Group		41,172		126,921
SEEK Ltd.		2,700		35,178
Sonic Healthcare Ltd.		2,786		45,696
South32 Ltd.		16,770		43,314
South32 Ltd.		24,967		64,040
Stockland		20,466		69,030


	Number of Shares		Value†

Australia — (continued)
Suncorp Group Ltd.		9,789	$	100,204
Sydney Airport		9,694		54,064
Tabcorp Holdings Ltd.		7,043		23,590
Tatts Group Ltd.		8,608		26,873
Telstra Corp. Ltd.		33,844		92,650
The GPT Group		15,260		59,371
The GPT Group, In Specie~		16,419		0
TPG Telecom Ltd.		2,224		8,496
Transurban Group		15,707		146,368
Treasury Wine Estates Ltd.		5,948		63,872
Vicinity Centres		25,092		52,355
Wesfarmers Ltd.		8,823		286,035
Westfield Corp.		15,906		97,817
Westpac Banking Corp.		26,214		656,347
Woodside Petroleum Ltd.		6,074		138,645
Woolworths Ltd.		10,284		203,363

				7,632,837

Austria — 0.3%
Andritz AG		668		38,611
Erste Group Bank AG*		2,497		107,851
OMV AG		1,135		66,120
Raiffeisen Bank International AG*		1,156		38,740
voestalpine AG		1,009		51,452

				302,774

Belgium — 1.2%
Ageas		1,453		68,279
Anheuser-Busch InBev N.V.		5,928		709,735
Colruyt S.A.		365		18,694
Groupe Bruxelles Lambert S.A.		667		70,161
KBC Groep N.V.		2,043		173,127
Proximus SADP		1,133		39,041
Solvay S.A.		600		89,635
Telenet Group Holding N.V.*		377		24,943
UCB S.A.		1,013		72,111
Umicore S.A.		738		61,048

				1,326,774

Bermuda — 0.1%
Jardine Strategic Holdings Ltd.		1,700		73,440

China — 0.1%
Sands China Ltd.		19,200		99,913
Yangzijiang Shipbuilding Holdings Ltd.		19,000		20,030

				119,943

Denmark — 1.8%
A.P. Moller - Maersk A/S, B Shares		51		96,877
A.P. Moller - Maersk A/S, A Shares		31		56,966
Carlsberg A/S, B Shares		840		91,921
Chr Hansen Holding AS		775		66,468
Coloplast A/S, Class B		905		73,449
Danske Bank A/S		5,740		229,555
DONG Energy AS144A @		1,171		67,029
DSV A/S		1,517		114,758
Genmab AS*		448		98,903
H Lundbeck A/S		500		28,851


	Number of Shares		Value†
COMMON STOCKS — (continued)
Denmark — (continued)
ISS A/S		1,307	$	52,560
Novo Nordisk A/S, B Shares		14,548		695,485
Novozymes A/S, B Shares		1,916		98,322
Pandora A/S		881		86,963
TDC A/S		6,200		36,326
Tryg A/S		965		22,285
Vestas Wind Systems A/S		1,658		148,782
William Demant Holding A/S*		935		24,681

				2,090,181

Finland — 1.0%
Elisa OYJ		1,000		43,045
Fortum OYJ		3,489		69,648
Kone OYJ, B Shares		2,641		139,838
Metso OYJ		1,066		39,107
Neste OYJ		1,183		51,663
Nokia OYJ		44,789		268,914
Nokian Renkaat OYJ		902		40,116
Orion OYJ, B Shares		750		34,801
Sampo OYJ, A Shares		3,551		187,685
Stora Enso OYJ, R Shares		4,323		61,056
UPM-Kymmene OYJ		4,158		112,685
Wartsila OYJ Abp		1,184		83,822

				1,132,380

France — 10.0%
Accor S.A.		1,399		69,504
Aeroports de Paris		215		34,762
Air Liquide S.A.		3,077		410,400
Alstom S.E.		1,201		51,008
Arkema S.A.		503		61,679
AtoS S.A.		702		108,897
AXA S.A.		15,235		460,777
BNP Paribas S.A.		8,731		704,279
Bollore S.A.		7,035		35,163
Bouygues S.A.		1,571		74,549
Bureau Veritas S.A.		1,943		50,142
Capgemini S.E.		1,222		143,214
Carrefour S.A.		4,611		93,163
Casino Guichard Perrachon S.A.		468		27,756
Cie de Saint-Gobain		3,857		229,843
Cie Generale des Etablissements Michelin, B Shares		1,336		195,008
CNP Assurances		1,195		28,007
Credit Agricole S.A.		8,891		161,616
Danone S.A.		4,610		361,619
Dassault Aviation S.A.		18		29,113
Dassault Systemes S.A.		994		100,551
Edenred		1,781		48,414
Eiffage S.A.		572		59,221
Electricite de France S.A.		4,266		51,806
Engie SA		13,313		226,105
Essilor International S.A.		1,632		202,047
Eurazeo S.A.		378		33,788
Eutelsat Communications S.A.		1,342		39,748
Fonciere Des Regions		278		28,878
Gecina S.A.		357		57,890


	Number of Shares		Value†

France — (continued)
Groupe Eurotunnel S.E.		3,742	$	45,111
Hermes International		247		124,522
ICADE		313		27,919
Iliad S.A.		205		54,478
Imerys S.A.		213		19,246
Ingenico Group S.A.		444		42,086
Ipsen S.A.		293		38,941
JCDecaux S.A.		510		19,096
Kering		600		239,014
Klepierre		1,645		64,567
L’Oreal S.A.		1,990		423,119
Lagardere S.C.A.		948		31,736
Legrand S.A.		2,075		149,794
LVMH Moet Hennessy Louis Vuitton S.E.		2,191		604,525
Natixis		7,282		58,266
Orange S.A.		15,519		254,217
Pernod Ricard S.A.		1,689		233,657
Peugeot S.A.		4,031		95,999
Publicis Groupe S.A.		1,534		107,132
Remy Cointreau S.A.		157		18,593
Renault S.A.		1,380		135,553
Rexel S.A.		2,198		38,032
Safran S.A.		2,428		248,051
Sanofi S.A.		8,847		878,426
Schneider Electric S.E.		4,336		377,331
SCOR S.E.		1,349		56,560
SEB S.A.		179		32,834
Societe BIC S.A.		246		29,482
Societe Generale S.A.		5,913		346,177
Sodexo S.A.		698		87,033
Suez Environment Co.		2,717		49,597
Thales S.A.		777		87,958
TOTAL S.A.		18,428		989,789
Unibail-Rodamco S.E.		772		187,731
Valeo SA		1,888		140,088
Veolia Environment S.A.		3,504		80,963
Vinci S.A.		3,958		376,106
Vivendi S.A.		8,154		206,428
Wendel S.A.		253		40,981
Zodiac Aerospace		1,735		50,168

				11,270,253

Germany — 9.2%
adidas AG		1,472		332,988
Allianz S.E.		3,569		801,243
Axel Springer S.E.		327		21,013
BASF S.E.		7,173		763,334
Bayer AG		6,433		876,640
Bayerische Motoren Werke AG		2,582		261,923
Beiersdorf AG		792		85,210
Brenntag AG		1,140		63,481
Commerzbank AG*		8,718		118,596
Continental AG		878		222,847
Covestro AG144A @		870		74,805
Daimler AG		7,520		599,662
Deutsche Annington Immobilien S.E.		3,623		154,152
Deutsche Bank AG		16,452		284,473


	Number of Shares		Value†
COMMON STOCKS — (continued)
Germany — (continued)
Deutsche Boerse AG		1,516	$	164,321
Deutsche Lufthansa AG		1,991		55,323
Deutsche Post AG		7,753		345,133
Deutsche Telekom AG		25,368		473,270
Deutsche Wohnen S.E.		2,770		117,596
E.ON S.E.		17,190		194,553
Evonik Industries AG		1,096		39,146
Fraport AG Frankfurt Airport Services Worldwide		272		25,827
Fresenius Medical Care AG & Co. KGaA		1,701		166,401
Fresenius S.E. & Co. KGaA		3,201		258,206
GEA Group AG		1,522		69,237
Hannover Rueck S.E.		474		57,114
HeidelbergCement AG		1,217		125,095
Henkel AG & Co. KGaA		823		100,139
Hochtief AG		160		26,994
Hugo Boss AG		567		49,985
Infineon Technologies AG		8,762		220,267
Innogy S.E.144A @		1,102		49,044
K+S AG		1,330		36,233
KION Group AG		553		52,921
LANXESS AG		691		54,522
Linde AG		1,451		302,599
MAN S.E.		297		33,519
Merck KGaA		1,016		113,020
METRO AG*		1,566		33,102
Muenchener Ruckversicherungs AG		1,236		264,262
OSRAM Licht AG		667		53,220
ProSiebenSat.1 Media AG		1,773		60,424
RWE AG*		3,801		86,343
SAP S.E.		7,646		837,617
Siemens AG		5,959		839,514
Symrise AG		883		67,073
Telefonica Deutschland Holding AG		5,808		32,592
Thyssenkrupp AG		2,865		84,907
TUI AG		3,650		61,920
United Internet AG		908		56,523
Volkswagen AG		247		41,819
Zalando SE*144A @		869		43,548

				10,353,696

Hong Kong — 3.2%
AIA Group Ltd.		94,200		694,598
ASM Pacific Technology Ltd.		1,700		24,483
Bank of East Asia Ltd.		8,162		35,264
BOC Hong Kong Holdings Ltd.		28,000		136,029
CK Asset Holdings Ltd.		21,170		175,206
CK Hutchison Holdings Ltd.		21,128		270,064
CK Infrastructure Holdings Ltd.		5,000		43,013
CLP Holdings Ltd.		12,500		128,095
First Pacific Co., Ltd.		15,750		12,561
Galaxy Entertainment Group Ltd.		18,000		126,735
Hang Lung Group Ltd.		7,000		25,136
Hang Lung Properties Ltd.		14,000		33,228
Hang Seng Bank Ltd.		5,900		143,807
Henderson Land Development Co., Ltd.		9,828		65,108


	Number of Shares		Value†

Hong Kong — (continued)
HK Electric Investments & HK Electric Investments Ltd.144A @		20,777	$	18,938
HKT Trust & HKT Ltd.		30,240		36,737
Hong Kong & China Gas Co., Ltd.		65,410		122,922
Hong Kong Exchanges & Clearing Ltd.		9,265		249,072
Hongkong Land Holdings Ltd.		9,000		64,800
Hysan Development Co., Ltd.		6,140		28,886
I-CABLE Communications Ltd.*		7,411		242
Kerry Properties Ltd.		3,509		14,532
Li & Fung Ltd.		50,000		25,091
Link REIT		18,176		147,286
Melco Resorts & Entertainment Ltd. ADR		1,967		47,444
MGM China Holdings Ltd.		8,400		20,130
MTR Corp., Ltd.		11,599		67,709
New World Development Co., Ltd.		43,878		63,023
NWS Holdings Ltd.		14,013		27,303
PCCW Ltd.		33,068		17,906
Power Assets Holdings Ltd.		10,500		90,932
Shangri-La Asia Ltd.		6,666		12,356
Sino Land Co., Ltd.		21,506		37,772
SJM Holdings Ltd.		17,000		15,560
Sun Hung Kai Properties Ltd.		11,161		181,311
Swire Pacific Ltd., A Shares		4,000		38,814
Swire Properties Ltd.		9,336		31,671
Techtronic Industries Co.		11,000		58,720
The Wharf Holdings Ltd.		9,000		80,188
WH Group Ltd.144A @		63,823		67,813
Wheelock & Co., Ltd.		7,000		49,241
Yue Yuen Industrial Holdings Ltd.		7,000		26,614

				3,556,340

Ireland — 1.0%
Anglo Irish Bank Corp. PLC~		3,146		0
Bank of Ireland Group PLC*		7,345		60,159
CRH PLC		6,548		249,778
DCC PLC		683		66,308
Experian PLC		7,589		152,437
James Hardie Industries PLC		3,086		42,894
Kerry Group PLC, A Shares		1,177		113,082
Paddy Power Betfair PLC		632		63,058
Ryanair Holdings PLC ADR*		257		27,093
Shire PLC		7,072		358,968

				1,133,777

Israel — 0.5%
Azrieli Group		283		15,708
Bank Hapoalim BM		8,292		58,012
Bank Leumi Le-Israel BM		11,337		60,136
Bezeq The Israeli Telecommunication Corp., Ltd.		15,011		21,450
Check Point Software Technologies Ltd.*		1,012		115,388
Elbit Systems Ltd.		186		27,325
Frutarom Industries Ltd.		303		23,307
Israel Chemicals Ltd.		3,410		15,126
Mizrahi Tefahot Bank Ltd.		783		14,028
NICE Systems Ltd.		400		31,889
Taro Pharmaceutical Industries Ltd.*		116		13,072


	Number of Shares		Value†
COMMON STOCKS — (continued)
Israel — (continued)
Teva Pharmaceutical Industries Ltd.		7,232	$	126,358

				521,799

Italy — 2.2%
Assicurazioni Generali SpA		9,446		175,947
Atlantia SpA		3,533		111,531
Enel SpA		63,275		381,026
Eni SpA		20,152		333,445
Ferrari N.V.		959		105,976
Intesa Sanpaolo SpA		100,509		355,423
Intesa Sanpaolo SpA, RSP		8,795		29,105
Leonardo SpA		3,179		59,552
Luxottica Group SpA		1,314		73,442
Mediobanca SpA		4,539		48,711
Poste Italiane Spa144A @		4,029		29,666
Prysmian SpA		1,608		54,316
Recordati SpA		813		37,474
Saipem SpA*		4,634		19,980
Snam SpA		17,702		85,278
Telecom Italia SpA*		90,713		84,967
Telecom Italia SpA, RSP		52,300		39,313
Terna Rete Elettrica Nasionale SpA		11,628		67,918
UniCredit SpA*		15,572		331,648
UnipolSai Assicurazioni SpA		8,602		20,089

				2,444,807

Japan — 23.2%
ABC-Mart, Inc.		200		10,558
Acom Co., Ltd.*		3,200		12,399
Aeon Co., Ltd.		4,700		69,440
AEON Financial Service Co., Ltd.		700		14,625
Aeon Mall Co., Ltd.		710		12,638
Air Water, Inc.		1,000		18,449
Aisin Seiki Co., Ltd.		1,400		73,779
Ajinomoto Co., Inc.		4,000		78,063
Alfresa Holdings Corp.		1,600		29,277
Alps Electric Co., Ltd.		1,400		36,939
Amada Holdings Co., Ltd.		3,000		32,926
ANA Holdings, Ltd.		1,100		41,634
Aozora Bank Ltd.		1,000		38,036
Asahi Glass Co., Ltd.		1,600		59,365
Asahi Group Holdings Ltd.		3,200		129,564
Asahi Kasei Corp.		10,000		123,084
Asics Corp.		1,000		14,894
Astellas Pharma, Inc.		16,000		203,546
Bandai Namco Holdings, Inc.		1,500		51,455
Benesse Holdings, Inc.		700		25,257
Bridgestone Corp.		5,200		235,958
Brother Industries Ltd.		2,100		48,859
Calbee, Inc.		800		28,118
Canon, Inc.		8,300		283,613
Casio Computer Co., Ltd.		1,500		21,115
Central Japan Railway Co.		1,100		192,873
Chubu Electric Power Co., Inc.		5,100		63,317
Chugai Pharmaceutical Co., Ltd.		1,800		74,703
Coca-Cola Bottlers Japan, Inc.		1,000		32,437
Concordia Financial Group Ltd.		10,300		50,903


	Number of Shares		Value†

Japan — (continued)
Credit Saison Co., Ltd.		1,000	$	20,751
Cyberdyne, Inc.*		1,000		13,322
Dai Nippon Printing Co., Ltd.		2,000		47,865
Daicel Corp.		2,000		24,101
Daiichi Sankyo Co., Ltd.		4,200		94,731
Daikin Industries Ltd.		1,900		192,406
Daito Trust Construction Co., Ltd.		500		91,091
Daiwa House Industry Co., Ltd.		4,500		155,366
Daiwa House REIT Investment Corp.		11		26,336
Daiwa Securities Group, Inc.		13,000		73,627
DeNA Co., Ltd.		800		17,930
Denso Corp.		3,700		187,195
Dentsu, Inc.		1,800		79,022
Disco Corp.		200		40,684
Don Quijote Holdings Co., Ltd.		800		29,896
East Japan Railway Co.		2,600		239,956
Eisai Co., Ltd.		2,000		102,662
Electric Power Development Co., Ltd.		1,000		25,114
FamilyMart Co., Ltd.		700		36,890
FANUC Corp.		1,500		303,799
Fast Retailing Co., Ltd.		400		117,983
Fuji Electric Co., Ltd.		4,000		22,182
FUJIFILM Holdings Corp.		3,300		128,070
Fujitsu Ltd.		15,000		111,429
Fukuoka Financial Group, Inc.		6,000		27,727
Hakuhodo DY Holdings, Inc.		1,500		19,702
Hamamatsu Photonics K.K.		1,000		30,216
Hankyu Hanshin Holdings, Inc.		1,800		68,305
Hikari Tsushin, Inc.		200		25,061
Hino Motors Ltd.		2,000		24,457
Hirose Electric Co., Ltd.		210		29,561
Hisamitsu Pharmaceutical Co., Inc.		400		19,196
Hitachi Chemical Co., Ltd.		1,000		27,416
Hitachi Construction Machinery Co., Ltd.		1,000		29,638
Hitachi High-Technologies Corp.		500		18,129
Hitachi Ltd.		38,000		267,765
Hitachi Metals Ltd.		2,000		27,834
Honda Motor Co., Ltd.		13,400		396,790
Hoshizaki Electric Co., Ltd.		500		43,946
Hoya Corp.		3,000		161,964
Hulic Co., Ltd.		2,500		24,506
Idemitsu Kosan Co., Ltd.		900		25,394
IHI Corp.		1,200		41,697
Iida Group Holdings Co., Ltd.		1,000		17,827
Inpex Corp.		7,200		76,495
Isetan Mitsukoshi Holdings Ltd.		2,500		26,105
Isuzu Motors Ltd.		4,500		59,627
ITOCHU Corp.		12,000		196,543
J. Front Retailing Co., Ltd.		2,000		27,638
Japan Airlines Co., Ltd.		1,000		33,841
Japan Airport Terminal Co., Ltd.		300		10,691
Japan Exchange Group, Inc.		4,000		70,775
Japan Post Bank Co., Ltd.		3,000		37,058
Japan Post Holdings Co., Ltd.		12,300		145,272
Japan Prime Realty Investment Corp.		8		26,732
Japan Real Estate Investment Corp.		10		48,078


	Number of Shares		Value†
COMMON STOCKS — (continued)
Japan — (continued)
Japan Retail Fund Investment Corp.		20	$	35,885
Japan Tobacco, Inc.		8,600		281,865
JFE Holdings, Inc.		3,800		74,210
JGC Corp.		2,000		32,366
JSR Corp.		1,800		34,200
JTEKT Corp.		1,500		20,769
JXTG Holdings, Inc.		24,090		123,934
Kajima Corp.		7,000		69,549
Kakaku.com, Inc.		1,100		14,018
Kamigumi Co., Ltd.		1,000		23,150
Kaneka Corp.		2,000		15,534
Kansai Paint Co., Ltd.		1,400		35,235
Kao Corp.		3,900		229,442
Kawasaki Heavy Industries Ltd.		1,000		33,148
KDDI Corp.		14,400		379,692
Keihan Holdings Co., Ltd.		600		17,569
Keikyu Corp.		2,000		40,542
Keio Corp.		1,000		41,235
Keisei Electric Railway Co., Ltd.		1,000		27,683
Keyence Corp.		782		415,237
Kikkoman Corp.		1,000		30,749
Kintetsu Group Holdings Co., Ltd.		1,600		59,507
Kirin Holdings Co., Ltd.		6,800		160,021
Kobe Steel Ltd.		2,600		29,714
Koito Manufacturing Co., Ltd.		1,000		62,742
Komatsu Ltd.		7,300		207,663
Konami Corp.		700		33,655
Konica Minolta, Inc.		4,000		32,846
Kose Corp.		200		22,910
Kubota Corp.		8,200		149,061
Kuraray Co., Ltd.		3,100		57,964
Kurita Water Industries Ltd.		800		23,106
Kyocera Corp.		2,600		161,326
Kyowa Hakko Kirin Co., Ltd.		2,000		34,019
Kyushu Electric Power Co., Inc.		2,900		30,798
Kyushu Financial Group, Inc.		3,000		18,449
Kyushu Railway Co.		1,200		35,672
Lawson, Inc.		400		26,483
LINE Corp.*		300		10,838
Lion Corp.		2,000		36,507
LIXIL Group Corp.		2,300		61,034
M3, Inc.		1,700		48,420
Mabuchi Motor Co., Ltd.		400		20,013
Makita Corp.		1,600		64,483
Marubeni Corp.		13,000		88,785
Marui Group Co., Ltd.		1,500		21,475
Maruichi Steel Tube Ltd.		300		8,731
Mazda Motor Corp.		4,500		68,985
McDonald’s Holdings Co., Japan Ltd.		700		30,980
Mebuki Financial Group, Inc.		7,020		27,138
Medipal Holdings Corp.		1,700		29,521
MEIJI Holdings Co., Ltd.		900		71,344
MINEBEA MITSUMI, Inc.		3,000		46,923
Miraca Holdings, Inc.		400		18,591
MISUMI Group, Inc.		2,200		57,930
Mitsubishi Chemical Holdings Corp.		10,800		102,889


	Number of Shares		Value†

Japan — (continued)
Mitsubishi Corp.		11,800	$	274,276
Mitsubishi Electric Corp.		15,300		239,035
Mitsubishi Estate Co., Ltd.		10,000		173,873
Mitsubishi Gas Chemical Co., Inc.		1,500		35,152
Mitsubishi Heavy Industries Ltd.		2,400		94,891
Mitsubishi Materials Corp.		900		31,113
Mitsubishi Motors Corp.		5,200		41,129
Mitsubishi Tanabe Pharma Corp.		1,900		43,564
Mitsubishi UFJ Financial Group, Inc.		93,700		608,457
Mitsubishi UFJ Lease & Finance Co., Ltd.		4,600		24,364
Mitsui & Co., Ltd.		13,300		196,560
Mitsui Chemicals, Inc.		1,400		42,551
Mitsui Fudosan Co., Ltd.		7,000		151,789
Mitsui OSK Lines Ltd.		1,000		30,304
Mixi, Inc.		300		14,477
Mizuho Financial Group, Inc.		186,280		326,290
MS&AD Insurance Group Holdings, Inc.		3,690		118,808
Murata Manufacturing Co., Ltd.		1,500		220,484
Nabtesco Corp.		900		33,433
Nagoya Railroad Co., Ltd.		1,400		30,146
NEC Corp.		2,100		56,921
Nexon Co., Ltd.*		1,500		39,138
NGK Insulators Ltd.		2,000		37,467
NGK Spark Plug Co., Ltd.		1,400		29,798
NH Foods Ltd.		1,000		27,505
Nidec Corp.		1,900		233,353
Nikon Corp.		2,900		50,281
Nintendo Co., Ltd.		900		332,406
Nippon Building Fund, Inc.		10		49,856
Nippon Electric Glass Co., Ltd.		800		30,962
Nippon Express Co., Ltd.		600		39,085
Nippon Paint Holdings Co., Ltd.		1,300		44,190
Nippon Prologis REIT, Inc.		15		31,606
Nippon Steel & Sumitomo Metal Corp.		5,917		135,850
Nippon Telegraph & Telephone Corp.		5,400		247,481
Nippon Yusen K.K.*		1,300		27,022
Nissan Chemical Industries Ltd.		1,000		35,192
Nissan Motor Co., Ltd.		18,100		179,271
Nisshin Seifun Group, Inc.		1,815		30,405
Nissin Foods Holdings Co., Ltd.		500		30,393
Nitori Holdings Co., Ltd.		600		85,794
Nitto Denko Corp.		1,300		108,390
NOK Corp.		1,000		22,395
Nomura Holdings, Inc.		28,500		159,565
Nomura Real Estate Holdings, Inc.		1,000		21,311
Nomura Real Estate Master Fund, Inc.		28		36,404
Nomura Research Institute Ltd.		1,210		47,206
NSK Ltd.		3,000		40,444
NTT Data Corp.		5,000		53,499
NTT DOCOMO, Inc.		10,600		242,144
Obayashi Corp.		5,000		59,942
Obic Co., Ltd.		500		31,460
Odakyu Electric Railway Co., Ltd.		2,500		47,434
Oji Holdings Corp.		6,000		32,366
Olympus Corp.		2,200		74,490
Omron Corp.		1,600		81,475


	Number of Shares		Value†
COMMON STOCKS — (continued)
Japan — (continued)
Ono Pharmaceutical Co., Ltd.		3,500	$	79,300
Oracle Corp. Japan		300		23,568
Oriental Land Co., Ltd.		1,700		129,534
ORIX Corp.		10,600		170,928
Osaka Gas Co., Ltd.		3,200		59,493
Otsuka Corp.		400		25,630
Otsuka Holdings Co., Ltd.		2,900		115,227
Panasonic Corp.		17,500		253,577
Park24 Co., Ltd.		800		19,480
Pola Orbis Holdings, Inc.		800		24,208
Rakuten, Inc.		7,300		79,601
Recruit Holdings Co., Ltd.		8,700		188,419
Renesas Electronics Corp.*		3,900		42,492
Resona Holdings, Inc.		17,800		91,432
Ricoh Co., Ltd.		5,000		48,611
Rinnai Corp.		300		25,674
Rohm Co., Ltd.		800		68,536
Ryohin Keikaku Co., Ltd.		200		58,920
Sankyo Co., Ltd.		400		12,762
Santen Pharmaceutical Co., Ltd.		3,000		47,270
SBI Holdings, Inc.		1,710		25,743
Secom Co., Ltd.		1,700		123,914
Sega Sammy Holdings, Inc.		1,200		16,764
Seibu Holdings, Inc.		1,600		27,329
Seiko Epson Corp.		2,200		53,238
Sekisui Chemical Co., Ltd.		3,000		59,027
Sekisui House Ltd.		4,600		77,529
Seven & I Holdings Co., Ltd.		5,900		227,821
Seven Bank Ltd.		5,300		19,123
Sharp Corp/Japan*		1,200		36,205
Shimadzu Corp.		2,000		39,387
Shimamura Co., Ltd.		200		23,995
Shimano, Inc.		600		79,929
Shimizu Corp.		5,000		55,410
Shin-Etsu Chemical Co., Ltd.		3,000		268,207
Shinsei Bank Ltd.		1,400		22,407
Shionogi & Co., Ltd.		2,300		125,726
Shiseido Co., Ltd.		3,000		120,027
Showa Shell Sekiyu K.K.		1,000		11,509
SMC Corp.		400		141,089
SoftBank Corp.		6,400		516,664
Sohgo Security Services Co., Ltd.		500		22,928
Sompo Holdings, Inc.		2,625		102,131
Sony Corp.		9,900		368,286
Sony Financial Holdings, Inc.		1,200		19,686
Stanley Electric Co., Ltd.		1,300		44,537
Start Today Co., Ltd.		1,500		47,523
Subaru Corp.		4,900		176,796
Sumitomo Chemical Co., Ltd.		12,000		74,970
Sumitomo Corp.		9,400		135,205
Sumitomo Dainippon Pharma Co., Ltd.		1,400		18,215
Sumitomo Electric Industries Ltd.		5,900		96,372
Sumitomo Heavy Industries Ltd.		1,000		40,080
Sumitomo Metal Mining Co., Ltd.		2,000		64,235
Sumitomo Mitsui Financial Group, Inc.		10,400		399,271
Sumitomo Mitsui Trust Holdings, Inc.		2,543		91,776


	Number of Shares		Value†

Japan — (continued)
Sumitomo Realty & Development Co., Ltd.		3,000	$	90,780
Sumitomo Rubber Industries Ltd.		1,200		21,990
Sundrug Co., Ltd.		600		24,848
Suntory Beverage & Food Ltd.		1,000		44,523
Suruga Bank Ltd.		1,600		34,495
Suzuken Co., Ltd.		440		15,641
Suzuki Motor Corp.		2,800		146,862
Sysmex Corp.		1,200		76,570
T&D Holdings, Inc.		4,300		62,422
Taiheiyo Cement Corp.		800		30,891
Taisei Corp.		1,600		83,892
Taisho Pharmaceutical Holdings Co., Ltd.		300		22,768
Taiyo Nippon Sanso Corp.		1,000		11,837
Takashimaya Co., Ltd.		2,000		18,734
Takeda Pharmaceutical Co., Ltd.		5,600		309,250
TDK Corp.		1,000		67,896
Teijin Ltd.		1,200		23,653
Terumo Corp.		2,500		98,312
The Bank of Kyoto Ltd.		600		30,500
The Chiba Bank Ltd.		5,000		35,770
The Chugoku Bank Ltd.		1,000		13,704
The Chugoku Electric Power Co., Inc.		2,100		22,302
The Dai-ichi Life Insurance Co., Ltd.		8,500		152,513
The Hachijuni Bank Ltd.		4,000		24,990
The Hiroshima Bank Ltd.		2,000		16,192
The Kansai Electric Power Co., Inc.		5,900		75,477
The Shizuoka Bank Ltd.		4,000		35,974
The Yokohama Rubber Co., Ltd.		1,000		20,618
THK Co., Ltd.		1,000		34,037
Tobu Railway Co., Ltd.		1,400		38,445
Toho Co., Ltd.		900		31,393
Toho Gas Co., Ltd.		600		17,569
Tohoku Electric Power Co., Inc.		3,500		44,510
Tokio Marine Holdings, Inc.		5,400		211,249
Tokyo Electric Power Co., Inc.*		12,200		49,223
Tokyo Electron Ltd.		1,200		184,279
Tokyo Gas Co., Ltd.		3,000		73,530
Tokyo Tatemono Co., Ltd.		1,500		19,182
Tokyu Corp.		4,000		56,627
Tokyu Fudosan Holdings Corp.		4,000		24,137
Toppan Printing Co., Ltd.		4,000		39,671
Toray Industries, Inc.		11,000		106,701
Toshiba Corp.*		32,000		89,580
Tosoh Corp.		2,500		56,343
TOTO Ltd.		1,000		42,124
Toyo Seikan Group Holdings Ltd.		1,000		16,707
Toyo Suisan Kaisha Ltd.		600		22,048
Toyoda Gosei Co., Ltd.		400		9,452
Toyota Industries Corp.		1,200		68,998
Toyota Motor Corp.		20,368		1,214,568
Toyota Tsusho Corp.		1,800		59,107
Trend Micro, Inc.		900		44,310
Tsuruha Holdings, Inc.		300		35,859
Unicharm Corp.		3,000		68,678
United Urban Investment Corp.		27		39,543
USS Co., Ltd.		1,500		30,260


	Number of Shares		Value†
COMMON STOCKS — (continued)
Japan — (continued)
West Japan Railway Co.		1,300	$	90,367
Yahoo Japan Corp.		10,400		49,354
Yakult Honsha Co., Ltd.		700		50,451
Yamada Denki Co., Ltd.		5,300		28,967
Yamaguchi Financial Group, Inc.		2,000		23,408
Yamaha Corp.		1,200		44,257
Yamaha Motor Co., Ltd.		2,400		71,877
Yamato Holdings Co., Ltd.		2,800		56,523
Yamazaki Baking Co., Ltd.		1,000		18,058
Yaskawa Electric Corp.		2,000		63,364
Yokogawa Electric Corp.		2,000		34,055

				26,085,881

Jersey — 0.1%
Randgold Resources Ltd.		746		73,124

Luxembourg — 0.3%
ArcelorMittal*		5,168		133,308
Eurofins Scientific S.E.		87		54,970
Millicom International Cellular S.A.		489		32,270
RTL Group S.A.		294		22,252
SES S.A.		2,712		59,330
Tenaris S.A.		3,987		56,547

				358,677

Macau — 0.0%
Wynn Macau Ltd.		12,400		33,414

Netherlands — 5.9%
ABN AMRO Group N.V.144A @		2,936		87,931
Aegon N.V.		13,389		77,983
AerCap Holdings N.V.*		1,113		56,885
Airbus S.E.		4,576		434,885
Akzo Nobel N.V.		1,950		180,043
Altice N.V. Class A*		3,728		74,661
Altice N.V. Class B*		694		13,862
ASML Holding N.V.		2,888		491,687
Boskalis Westminster		708		24,748
CNH Industrial N.V.		7,476		89,772
EXOR N.V.		848		53,770
Gemalto N.V.		668		29,839
Heineken Holdings N.V.		751		70,564
Heineken N.V.		1,784		176,376
ING Groep N.V.		30,459		561,589
Koninklijke Ahold Delhaize N.V.		9,999		186,957
Koninklijke DSM N.V.		1,417		115,993
Koninklijke KPN N.V.		25,935		89,045
Koninklijke Philips N.V.		7,260		299,718
Koninklijke Vopak N.V.		584		25,611
NN Group N.V.		2,397		100,316
NXP Semiconductors N.V.*		2,696		304,891
QIAGEN N.V.		1,867		58,762
Randstad Holding N.V.		923		57,097
RELX N.V.		7,544		160,581
Royal Dutch Shell PLC, A Shares		34,880		1,050,929
Royal Dutch Shell PLC, B Shares		29,169		896,837
Unilever N.V.		12,722		752,404


	Number of Shares		Value†

Netherlands — (continued)
Wolters Kluwer N.V.		2,305	$	106,505

				6,630,241

New Zealand — 0.1%
Auckland International Airport Ltd.		7,613		35,413
Contact Energy Ltd.		7,262		28,849
Fletcher Building Ltd.		4,795		27,673
Mercury NZ Ltd.		4,163		10,193
Meridian Energy Ltd.		7,526		15,465
Ryman Healthcare Ltd.		2,831		18,956
Spark New Zealand Ltd.		16,634		43,854

				180,403

Norway — 0.7%
DNB ASA		7,620		153,558
Gjensidige Forsikring ASA		1,418		24,676
Marine Harvest ASA		2,950		58,337
Norsk Hydro ASA		10,203		74,174
Orkla ASA		6,430		65,959
Schibsted ASA		593		15,278
Schibsted ASA		698		16,476
Statoil ASA		8,870		177,411
Telenor ASA		6,070		128,343
Yara International ASA		1,259		56,386

				770,598

Portugal — 0.2%
Banco Espirito Santo S.A.~		27,017		0
EDP - Energias de Portugal S.A.		18,562		69,874
Galp Energia SGPS, S.A.		4,313		76,437
Jeronimo Martins SGPS, S.A.		2,107		41,562

				187,873

Singapore — 1.4%
Ascendas Real Estate Investment Trust		19,362		37,969
CapitaLand Commercial Trust Ltd.		16,000		19,522
CapitaLand Ltd.		23,000		60,703
CapitaLand Mall Trust		21,700		31,995
City Developments Ltd.		3,000		25,058
ComfortDelGro Corp. Ltd.		20,000		30,668
DBS Group Holdings Ltd.		14,210		218,108
Genting Singapore PLC		54,000		46,577
Global Logistic Properties Ltd.		20,800		50,603
Golden Agri-Resources Ltd.		65,000		17,970
Hutchison Port Holdings Trust		35,100		15,093
Jardine Cycle & Carriage Ltd.		611		17,720
Jardine Matheson Holdings Ltd.		1,600		101,376
Keppel Corp. Ltd.		11,600		55,501
Oversea-Chinese Banking Corp. Ltd.		24,550		201,982
SATS Ltd.		5,300		18,012
Sembcorp Industries Ltd.		9,000		19,639
Singapore Airlines Ltd.		4,000		29,607
Singapore Exchange Ltd.		6,000		32,688
Singapore Press Holdings Ltd.		15,000		30,078
Singapore Technologies Engineering Ltd.		12,000		30,432
Singapore Telecommunications Ltd.		63,200		171,459
StarHub Ltd.		5,000		9,584
Suntec Real Estate Investment Trust		16,000		21,999


	Number of Shares		Value†
COMMON STOCKS — (continued)
Singapore — (continued)
United Overseas Bank Ltd.		10,337	$	179,085
UOL Group Ltd.		4,307		25,783
Wilmar International Ltd.		12,500		29,304

				1,528,515

South Africa — 0.1%
Mediclinic International PLC		2,866		24,963
Mondi PLC		2,860		76,839

				101,802

Spain — 3.4%
Abertis Infraestructuras S.A.		5,393		108,995
ACS Actividades de Construccion y Servicios S.A.		1,874		69,447
Aena SME S.A.144A @		527		95,141
Amadeus IT Holding S.A.		3,476		225,913
Banco Bilbao Vizcaya Argentaria S.A.		52,233		466,770
Banco de Sabadell S.A.		40,310		84,136
Banco Santander S.A.		124,790		871,214
Bankia S.A.		9,035		43,568
Bankinter S.A.		4,820		45,597
CaixaBank		28,028		140,455
Distribuidora Internacional de Alimentacion S.A.		4,084		23,820
Enagas S.A.		1,740		48,996
Endesa S.A.		2,463		55,527
Ferrovial S.A.		3,755		82,658
Gas Natural SDG S.A.		2,914		64,507
Grifols S.A.		2,504		72,951
Iberdrola S.A.		44,752		347,607
Industria de Diseno Textil S.A.		8,641		325,633
Mapfre S.A.		8,177		26,616
Red Electrica Corp. S.A.		3,632		76,323
Repsol S.A.		9,624		177,329
Siemens Gamesa Renewable Energy S.A.		1,855		24,215
Telefonica S.A.		35,081		381,119

				3,858,537

Sweden — 2.9%
Alfa Laval AB		2,088		50,989
Assa Abloy AB		7,608		173,739
Atlas Copco AB, A Shares		3,255		126,205
Atlas Copco AB, B Shares		5,275		223,373
Boliden AB		1,973		66,785
Electrolux AB, B Shares		1,720		58,411
Essity AB, Class B*		4,611		125,452
Getinge AB, B Shares		1,654		31,009
Hennes & Mauritz AB, B Shares		7,521		194,837
Hexagon AB, B Shares		2,081		103,144
Husqvarna AB, B Shares		2,834		29,158
ICA Gruppen AB		521		19,580
Industrivarden AB, C Shares		1,227		31,078
Investor AB, B Shares		3,449		170,356
Kinnevik AB		1,832		59,740
L E Lundbergforetagen AB		301		24,058
Lundin Petroleum AB*		1,488		32,556
Nordea Bank AB		23,722		321,540
Sandvik AB		8,817		152,094


	Number of Shares		Value†

Sweden — (continued)
Securitas AB, B Shares		2,875	$	48,147
Skandinaviska Enskilda Banken AB, A Shares		12,133		159,839
Skanska AB, B Shares		2,417		55,997
SKF AB, B Shares		2,667		58,121
Svenska Handelsbanken AB		11,598		175,005
Swedbank AB, A Shares		7,333		202,752
Swedish Match AB		1,496		52,475
Tele2 AB, B Shares		3,292		37,670
Telefonaktiebolaget LM Ericsson, B Shares		23,294		133,760
Telia Co AB		21,208		99,883
Volvo AB, B Shares		11,928		229,923

				3,247,676

Switzerland — 8.8%
ABB Ltd.		15,507		383,371
Adecco S.A.		1,232		95,929
Baloise Holding AG		370		58,537
Barry Callebaut AG		17		26,053
Chocoladefabriken Lindt & Spruengli AG		1		69,345
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates		7		39,939
Cie Financiere Richemont S.A.		4,079		372,790
Coca-Cola HBC AG		1,371		46,388
Credit Suisse Group AG		18,971		300,331
Dufry AG*		255		40,501
EMS-Chemie Holding AG		65		43,228
Ferguson PLC		1,932		126,751
Geberit AG		291		137,664
Givaudan S.A.		71		154,486
Glencore PLC		95,699		438,569
Julius Baer Group Ltd.		1,680		99,410
Kuehne + Nagel International AG		402		74,434
LafargeHolcim Ltd.		3,541		206,971
Lonza Group AG		591		155,020
Nestle S.A.		24,305		2,035,561
Novartis AG		17,433		1,492,431
Pargesa Holding S.A.		272		22,612
Partners Group Holding AG		130		88,202
Roche Holding AG		5,486		1,400,464
Schindler Holding AG		145		31,191
Schindler Holding AG, Participation Certificates		304		67,151
SGS S.A.		43		103,154
Sika AG		16		119,048
Sonova Holding AG		389		66,002
STMicroelectronics N.V.		4,919		95,171
Straumann Holding AG		74		47,532
Swiss Life Holding AG		251		88,414
Swiss Prime Site AG		512		46,026
Swiss Re AG		2,504		226,778
Swisscom AG		202		103,508
The Swatch Group AG		234		97,336
The Swatch Group AG, Registered Shares		366		29,160
UBS Group AG		28,484		486,818
Vifor Pharma AG		381		44,854


	Number of Shares		Value†
COMMON STOCKS — (continued)
Switzerland — (continued)
Zurich Insurance Group AG		1,179	$	359,660

				9,920,790

United Kingdom — 15.0%
3i Group PLC		7,597		92,943
Admiral Group PLC		1,518		36,960
Anglo American PLC		10,404		186,744
Antofagasta PLC		3,403		43,275
Ashtead Group PLC		3,679		88,688
Associated British Foods PLC		2,872		122,882
AstraZeneca PLC		9,862		654,806
Auto Trader Group PLC144A @		7,720		40,603
Aviva PLC		32,002		220,631
Babcock International Group PLC		1,759		19,505
BAE Systems PLC		25,041		211,899
Barclays PLC		133,569		346,062
Barratt Developments PLC		7,726		63,618
Berkeley Group Holdings PLC		1,009		50,256
BHP Billiton PLC		16,770		295,391
BP PLC		152,761		977,030
British American Tobacco PLC		14,773		924,859
British American Tobacco PLC ADR		3,255		203,275
BT Group PLC		66,205		251,861
Bunzl PLC		2,529		76,825
Burberry Group PLC		3,582		84,478
Capita PLC		4,936		37,370
Carnival PLC		1,402		89,106
Centrica PLC		42,920		107,549
Cobham PLC*		17,778		34,709
Coca-Cola European Partners PLC		1,676		70,271
Compass Group PLC		12,345		261,864
ConvaTec Group PLC144A @		9,109		33,432
Croda International PLC		923		46,913
Diageo PLC		19,661		646,260
Direct Line Insurance Group PLC		9,937		48,415
Dixons Carphone PLC		7,844		20,328
easyJet PLC		1,334		21,755
Fiat Chrysler Automobiles N.V.*		8,353		149,665
Fresnillo PLC		1,565		29,464
G4S PLC		12,521		46,694
GKN PLC		13,828		64,112
GlaxoSmithKline PLC		38,059		759,120
Hammerson PLC		6,716		48,327
Hargreaves Lansdown PLC		1,892		37,522
Hikma Pharmaceuticals PLC		1,108		17,980
HSBC Holdings PLC		156,561		1,546,372
IMI PLC		1,958		32,613
Imperial Brands PLC		7,534		321,442
Inmarsat PLC		3,494		30,128
InterContinental Hotels Group PLC		1,350		71,419
International Consolidated Airlines Group S.A. (London Main Market Exchange)		1,308		10,402
International Consolidated Airlines Group S.A. (Spanish Stock Exchange)*		3,606		28,725
Intertek Group PLC		1,257		83,916
Intu Properties PLC		8,417		25,998
Investec PLC		4,543		33,177


	Number of Shares		Value†

United Kingdom — (continued)
ITV PLC		27,237	$	63,761
J. Sainsbury PLC		12,992		41,417
Johnson Matthey PLC		1,520		69,658
Kingfisher PLC		16,836		67,342
Land Securities Group PLC		5,976		77,871
Legal & General Group PLC		47,123		164,113
Lloyds Banking Group PLC		555,934		504,555
London Stock Exchange Group PLC		2,429		124,661
Marks & Spencer Group PLC		12,979		61,463
Meggitt PLC		5,739		40,066
Merlin Entertainments PLC144A @		5,527		32,994
Micro Focus International PLC		3,425		109,551
National Grid PLC		27,009		334,631
Next PLC		1,131		79,717
Old Mutual PLC		38,468		100,104
Pearson PLC		6,696		54,912
Persimmon PLC		2,313		80,027
Provident Financial PLC		1,152		12,820
Prudential PLC		19,972		478,111
Reckitt Benckiser Group PLC		5,174		472,355
RELX PLC		8,480		186,015
Rio Tinto PLC		9,702		451,513
Rolls-Royce Holdings PLC		12,875		153,029
Royal Bank of Scotland Group PLC*		26,113		93,882
Royal Mail PLC		7,054		36,316
RSA Insurance Group PLC		7,501		62,620
Schroders PLC		1,078		48,464
Segro PLC		8,188		58,807
Severn Trent PLC		1,743		50,753
Sky PLC*		7,899		96,849
Smith & Nephew PLC		7,021		126,822
Smiths Group PLC		2,951		62,360
SSE PLC		8,029		150,301
St James’s Place PLC		4,100		62,961
Standard Chartered PLC*		25,573		254,130
Standard Life Aberdeen PLC		21,859		126,977
Tate & Lyle PLC		3,269		28,407
Taylor Wimpey PLC		25,341		66,386
Tesco PLC*		64,072		160,680
The British Land Co. PLC		7,994		64,486
The Sage Group PLC		8,870		83,022
The Weir Group PLC		1,731		45,579
Travis Perkins PLC		2,061		39,990
Unilever PLC		10,105		584,822
United Utilities Group PLC		5,606		64,190
Vodafone Group PLC		209,469		586,076
W.M. Morrison Supermarkets PLC		17,966		56,358
Whitbread PLC		1,474		74,384
Worldpay Group PLC144A @		15,559		84,856
WPP PLC		10,082		187,112

				16,865,915

TOTAL COMMON STOCKS (Cost $84,351,772)				111,802,447


	Number of Shares		Value†
PREFERRED STOCKS — 0.5%
Germany — 0.5%
Bayerische Motoren Werke AG		477	$	42,497
Fuchs Petrolub S.E.		598		35,402
Henkel AG & Co. KGaA		1,385		188,492
Porsche Automobil Holding S.E.		1,203		76,920
Schaeffler AG		1,280		20,650
Volkswagen AG		1,443		235,355

TOTAL PREFERRED STOCKS (Cost $422,269)				599,316

RIGHTS — 0.0%
Singapore — 0.0%
CapitaLand Commercial Trust~ (Cost $0)*		2,656		572

SHORT-TERM INVESTMENTS — 0.1%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $88,101)		88,101		88,101

TOTAL INVESTMENTS — 100.1% (Cost $84,862,142)			$	112,490,436

Other Assets & Liabilities — (0.1)%				(154,717	)

TOTAL NET ASSETS — 100.0%			$	112,335,719

†	See Security Valuation Note.

*	Non-income producing security.

~	Fair valued security. The total market value of fair valued securities at September 30, 2017 is 572.

144A @

PLC — Public Limited Company.

ADR — American Depository Receipt.

REIT — Real Estate Investment Trust.


COMMON STOCKS INDUSTRY DIVERSIFICATION	% of Market Value			Value†
Advertising	0.4	%	$	412,064
Aerospace & Defense	1.1	%		1,280,611
Agriculture	1.6	%		1,831,190
Airlines	0.2	%		259,424
Apparel	1.1	%		1,238,006
Auto Manufacturers	3.5	%		3,929,005
Auto Parts & Equipment	1.4	%		1,556,774
Banks	13.8	%		15,412,332
Beverages	2.3	%		2,524,275
Biotechnology	0.5	%		573,825
Building & Real Estate	0.2	%		210,031
Building Materials	1.4	%		1,612,768


Building-Maintenance Service	—	%†	$	52,560
Chemicals	3.9	%		4,362,178
Commercial Services	1.8	%		2,037,763
Computers	0.6	%		652,325
Cosmetics & Personal Care	1.7	%		1,887,957
Distribution & Wholesale	1.0	%		1,120,038
Diversified	—	%†		37,969
Diversified Financial Services	2.1	%		2,297,683
Diversified Operations	0.2	%		218,645
Electric	2.2	%		2,472,635
Electrical Components & Equipment	1.3	%		1,489,016
Electronics	1.7	%		1,859,285
Energy-Alternate Sources	0.3	%		294,543
Engineering & Construction	1.6	%		1,795,928
Entertainment	0.3	%		356,328
Environmental Control	—	%†		23,106
Food	4.6	%		5,195,224
Food Service	0.1	%		87,033
Forest Products & Paper	0.3	%		282,946
Gas	1.2	%		1,324,875
Hand & Machine Tools	0.6	%		611,631
Healthcare Products	1.1	%		1,216,415
Healthcare Services	0.4	%		439,248
Holding Companies	0.4	%		435,287
Home Builders	0.3	%		360,005
Home Furnishings	0.7	%		793,259
Hotels & Resorts	0.2	%		175,289
Household Products & Wares	0.6	%		631,134
Industrial	0.1	%		153,029
Insurance	5.6	%		6,208,580
Internet	0.5	%		538,996
Investment Companies	0.3	%		355,359
Iron & Steel	0.6	%		631,314
Leisure Time	0.3	%		379,352
Lodging	0.4	%		450,664
Machinery - Construction & Mining	0.5	%		586,879
Machinery - Diversified	1.2	%		1,322,534
Media	0.9	%		975,058
Metal Fabricate/Hardware	0.4	%		395,512
Mining	2.5	%		2,779,603
Miscellaneous Manufacturing	1.2	%		1,354,985
Mixed Industrial/Office	0.3	%		375,498
Office & Business Equipment	0.3	%		385,462
Oil & Gas	4.9	%		5,506,905
Oil & Gas Services	—	%†		19,980
Packaging and Containers	0.1	%		124,931
Pharmaceuticals	7.4	%		8,223,320
Pipelines	0.1	%		57,330
Real Estate	1.8	%		1,955,877
Real Estate Investment Trusts	1.1	%		1,260,221
Real Estate Management Services	0.1	%		154,152
Retail	2.7	%		3,042,353
Semiconductors	1.3	%		1,431,806
Shipbuilding	—	%†		20,030
Software	1.4	%		1,615,609
Telecommunications	4.6	%		5,089,375
Textiles	0.2	%		188,318
Toys, Games & Hobbies	0.3	%		383,861
Transportation	1.9	%		2,146,498
Venture Capital	0.1	%		92,943
Water	0.2	%		245,503

	100.0	%	$	111,802,447

†

Rounded.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017		Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input		Level 3 Signi- ficant Unobser- vable Input
COMMON STOCKS
Australia	$	7,632,837	$	7,632,837	$	—	$	—
Austria		302,774		302,774		—		—
Belgium		1,326,774		1,326,774		—		—
Bermuda		73,440		73,440		—		—
China		119,943		119,943		—		—
Denmark		2,090,181		2,090,181		—		—
Finland		1,132,380		1,132,380		—		—
France		11,270,253		11,270,253		—		—
Germany		10,353,696		10,353,696		—		—
Hong Kong		3,556,340		3,556,340		—		—
Ireland		1,133,777		1,133,777		—		—
Israel		521,799		521,799		—		—
Italy		2,444,807		2,444,807		—		—
Japan		26,085,881		26,085,881		—		—
Jersey		73,124		73,124		—		—
Luxembourg		358,677		358,677		—		—
Macau		33,414		33,414		—		—
Netherlands		6,630,241		6,630,241		—		—
New Zealand		180,403		180,403		—		—
Norway		770,598		770,598		—		—
Portugal		187,873		187,873		—		—
Singapore		1,528,515		1,528,515		—		—
South Africa		101,802		101,802		—		—
Spain		3,858,537		3,858,537		—		—
Sweden		3,247,676		3,247,676		—		—
Switzerland		9,920,790		9,920,790		—		—
United Kingdom		16,865,915		16,865,915		—		—

TOTAL COMMON STOCKS		111,802,447		111,802,447		—		—

PREFERRED STOCKS
Germany		599,316		599,316		—		—

RIGHTS		572		—		572		—

SHORT-TERM INVESTMENTS		88,101		88,101		—		—

TOTAL INVESTMENTS	$	112,490,436	$	112,489,864	$	572	$	—

OTHER FININCIAL INSTRUMENTS(1)
Futures Contracts	$	11,071	$	11,071	$	—	$	—

TOTAL ASSETS-OTHER FINANCIAL INSTRUMENTS	$	11,071	$	11,071	$	—	$	—

(1)	Other financial instruments are derivative instruments not reflected in the value of total investments in securities in the Schedule of Investments such as futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

It Is the Fund’s practice to recognize transfers in and transfers out at the fair value as of the beginning of period.

An amount of $92,956,803 was transferred from Level 2 into Level 1 at 9/30/17 as a result of using quoted prices in active market for such foreign securities. The Fund did not have any transfers in and transfers out of Level 3 fair value hierarchy during the reporting period.

Futures Contracts:


Type	Futures Contract	Expiration Date		Number of Contracts		Units per Contract		Closing Price		Notional Value		Unrealized Appreciation		Unrealized Depreciation
Buy/Long	E-Mini MSCI EAFE Index		12/31/2017		8		50	$	1,978	$	791,200	$	11,071	$	—

												$	11,071	$	—

The accompanying notes are an integral part of the financial statements.


	Number of Shares		Value†
COMMON STOCKS — 97.1%
Australia — 2.2%
CSL Ltd.		35,134	$	3,691,817
Ramsay Health Care Ltd.		90,212		4,407,075

				8,098,892

Belgium — 3.0%
Anheuser-Busch InBev N.V.		91,065		10,902,830

Brazil — 1.1%
Ambev S.A. ADR		603,669		3,978,179

Canada — 7.0%
Alimentation Couche-Tard, Inc., Class B		240,715		10,977,106
Canadian National Railway Co.		90,410		7,490,752
Constellation Software, Inc.		13,275		7,242,495

				25,710,353

China — 5.0%
Alibaba Group Holding Ltd. ADR*		63,456		10,959,486
Tencent Holdings Ltd.		167,004		7,187,611

				18,147,097

France — 5.9%
Essilor International S.A.		35,684		4,417,798
L’Oreal S.A.		18,067		3,841,453
LVMH Moet Hennessy Louis Vuitton S.E.		17,839		4,922,012
Sodexo S.A.		30,820		3,842,938
Teleperformance		31,428		4,691,356

				21,715,557

Germany — 3.5%
SAP S.E.		118,206		12,949,432

India — 8.3%
HDFC Bank Ltd.~		660,256		18,288,545
Housing Development Finance Corp. Ltd.		460,885		12,292,266

				30,580,811

Ireland — 8.1%
Accenture PLC, Class A		49,113		6,633,693
Allied Irish Banks PLC		1,262,396		7,586,909
DCC PLC		62,200		6,038,552
Paddy Power Betfair PLC		94,460		9,424,788

				29,683,942

Israel — 1.0%
Check Point Software Technologies Ltd.*		32,668		3,724,805

Japan — 5.3%
Daito Trust Construction Co., Ltd.		32,961		6,004,892
Keyence Corp.		8,400		4,460,342
Shimano, Inc.		42,300		5,634,988
Unicharm Corp.		142,100		3,253,051

				19,353,273

Mexico — 0.9%
Fomento Economico Mexicano S.A.B. de C.V. ADR		36,037		3,442,615

Netherlands — 7.0%
RELX N.V.		363,835		7,744,555


	Number of Shares		Value†

Netherlands — (continued)
Unilever N.V.		303,783	$	17,966,318

				25,710,873

South Africa — 2.0%
Naspers Ltd., N Shares		33,443		7,212,893

Spain — 4.6%
Aena SME S.A.144A @		41,093		7,418,693
Grifols S.A.		196,962		5,738,226
Industria de Diseno Textil S.A.		94,670		3,567,608

				16,724,527

Switzerland — 6.1%
Nestle S.A.		132,287		11,079,130
Roche Holding AG		28,593		7,299,210
UBS Group AG		243,572		4,162,871

				22,541,211

Taiwan — 1.8%
Taiwan Semiconductor Manufacturing Co. Ltd. ADR		176,072		6,611,504

United Kingdom — 11.6%
British American Tobacco PLC		259,579		16,250,862
Diageo PLC		203,232		6,680,264
Domino’s Pizza Group PLC		1,533,878		6,375,829
Reckitt Benckiser Group PLC		145,761		13,307,110

				42,614,065

United States — 12.7%
Mastercard, Inc., Class A		121,029		17,089,295
Philip Morris International, Inc.		110,445		12,260,500
The Priceline Group, Inc.*		4,938		9,040,589
Visa, Inc., Class A		75,926		7,990,452

				46,380,836

TOTAL COMMON STOCKS (Cost $265,082,545)				356,083,695

SHORT-TERM INVESTMENTS — 2.6%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $9,528,240)		9,528,240		9,528,240

TOTAL INVESTMENTS — 99.7% (Cost $274,610,785)			$	365,611,935

Other Assets & Liabilities — 0.3%				990,968

TOTAL NET ASSETS — 100.0%			$	366,602,903

144A @

~	Fair valued security. The total market value of fair valued securities at September 30, 2017 is $18,288,545.

†	See Security Valuation Note.

*	Non-income producing security.

ADR — American Depository Receipt.

PLC — Public Limited Company.


Country Weightings as of 09/30/2017††
United States	15	%
United Kingdom	12
India	9
Ireland	8
Canada	7
Netherlands	7
Switzerland	6
Other	36

Total	100	%

††%	of total investments as of September 30, 2017


COMMON STOCKS INDUSTRY DIVERSIFICATION	% of Market Value			Value†
Agriculture	8.0	%	$	28,511,362
Apparel	1.4	%		4,922,012
Banks	8.4	%		30,038,325
Beverages	7.0	%		25,003,888
Biotechnology	1.0	%		3,691,817
Commercial Services	4.8	%		17,089,295
Computers	3.2	%		11,325,049
Cosmetics & Personal Care	7.0	%		25,060,822
Diversified Financial Services	5.7	%		20,282,718
Electronics	1.3	%		4,460,342
Engineering & Construction	2.1	%		7,418,693
Entertainment	2.7	%		9,424,788
Food	3.1	%		11,079,130
Food Service	1.1	%		3,842,938
Healthcare Products	1.2	%		4,417,798
Healthcare Services	1.2	%		4,407,075
Household Products & Wares	3.7	%		13,307,110
Internet	7.6	%		27,187,686
Leisure Time	1.6	%		5,634,988
Media	4.2	%		14,957,448
Oil & Gas	1.7	%		6,038,552
Pharmaceuticals	3.7	%		13,037,436
Real Estate	1.7	%		6,004,892
Retail	5.9	%		20,920,543
Semiconductors	1.9	%		6,611,504
Software	6.7	%		23,916,732
Transportation	2.1	%		7,490,752

	100.0	%	$	356,083,695

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017		Level 1 Quoted Price		Level 2 Signifi- cant Obser- vable Input		Level 3 Signifi- cant Unobser- vable Input
COMMON STOCKS
Australia	$	8,098,892	$	8,098,892	$	—	$	—
Belgium		10,902,830		10,902,830		—		—
Brazil		3,978,179		3,978,179		—		—
Canada		25,710,353		25,710,353		—		—
China		18,147,097		18,147,097		—		—
France		21,715,557		21,715,557		—		—
Germany		12,949,432		12,949,432		—		—
India		30,580,811		12,292,266		18,288,545		—
Ireland		29,683,942		29,683,942		—		—
Israel		3,724,805		3,724,805		—		—
Japan		19,353,273		19,353,273		—		—
Mexico		3,442,615		3,442,615		—		—
Netherlands		25,710,873		25,710,873		—		—
South Africa		7,212,893		7,212,893		—		—
Spain		16,724,527		16,724,527		—		—
Switzerland		22,541,211		22,541,211		—		—
Taiwan		6,611,504		6,611,504		—		—
United Kingdom		42,614,065		42,614,065		—		—
United States		46,380,836		46,380,836		—		—
SHORT-TERM INVESTMENTS		9,528,240		9,528,240		—		—
TOTAL INVESTMENTS	$	365,611,935	$	347,323,390	$	18,288,545	$	—

It Is the Fund’s practice to recognize transfers in and transfers out at the fair value as of the beginning of period.

An amount of $172,272,786 was transferred from Level 2 into Level 1 at 9/30/17 as a result of using quoted prices in active market for such foreign securities. The Fund did not have any transfers in and transfers out of Level 3 fair value hierarchy during the reporting period.

The accompanying notes are an integral part of the financial statements.


	Number of Shares		Value†
COMMON STOCKS — 94.7%
Argentina — 2.8%
Banco Macro S.A. ADR		10,914	$	1,280,758
Grupo Financiero Galicia S.A. ADR		23,352		1,203,562
MercadoLibre, Inc.		10,120		2,620,372

				5,104,692

Austria — 1.0%
Erste Group Bank AG*		43,890		1,895,710

Brazil — 3.9%
B3 SA—Brasil Bolsa Balcao		217,462		1,638,955
BRF S.A.*		121,829		1,761,763
Lojas Renner S.A.		201,003		2,284,738
Petroleo Brasileiro S.A.*		270,574		1,360,068

				7,045,524

Chile — 1.3%
Banco Santander Chile		5,048,395		375,366
Banco Santander Chile ADR		6,348		188,599
S.A.C.I. Falabella		176,705		1,723,264

				2,287,229

China — 17.6%
AAC Technologies Holdings, Inc.		12,500		209,944
Alibaba Group Holding Ltd. ADR*		31,203		5,389,070
Bank of China Ltd., Class H		7,224,000		3,560,397
China Construction Bank Corp., Class H		3,079,930		2,554,912
China Pacific Insurance Group Co. Ltd., Class H		466,400		2,009,110
CRCC High-Tech Equipment Corp. Ltd.		524,500		172,559
Ctrip.com International Ltd. ADR*		4,300		226,782
JD.com, Inc. ADR*		35,289		1,348,040
NetEase, Inc. ADR		2,215		584,339
New Oriental Education & Technology Group, Inc ADR		11,259		993,719
PetroChina Co. Ltd., Class H		1,006,000		637,475
Shenzhou International Group Holdings Ltd.		132,000		1,034,154
TAL Education Group ADR		43,272		1,458,699
Tencent Holdings Ltd.		267,200		11,499,903
Zoomlion Heavy Industry Science and Technology Co., Ltd. Class H		166,200		73,190

				31,752,293

Czech Republic — 1.1%
Komercni Banka, A.S.		47,440		2,071,724

Egypt — 0.6%
Commercial International Bank Egypt SAE		244,884		1,132,433

Germany — 0.8%
adidas AG		6,640		1,502,064

Hong Kong — 3.8%
AIA Group Ltd.		238,200		1,756,403
China Mengniu Dairy Co. Ltd.*		289,000		808,368
China Mobile Ltd.		148,500		1,504,656
China Overseas Land & Investment Ltd.		120,000		390,189
China Unicom Hong Kong Ltd.*		502,000		697,901
CSPC Pharmaceutical Group Ltd.		542,000		907,543
Sino Biopharmaceutical Ltd.		773,000		817,372

				6,882,432


	Number of Shares		Value†

Hungary — 1.3%
OTP Bank PLC		61,825	$	2,319,657

India — 9.4%
Ashok Leyland Ltd.		1,018,655		1,919,725
Bharat Petroleum Corp. Ltd.		257,871		1,860,603
Housing Development Finance Corp. Ltd.		76,786		2,047,960
ICICI Bank Ltd.		175,218		741,967
ICICI Bank Ltd. ADR		88,100		754,136
IndusInd Bank Ltd.		90,517		2,331,104
Marico Ltd.		434,031		2,064,837
Maruti Suzuki India Ltd.		15,486		1,891,463
Shree Cement Ltd.		6,395		1,819,041
Zee Entertainment Enterprises Ltd.		205,134		1,633,346

				17,064,182

Indonesia — 5.0%
Astra International Tbk PT		2,527,700		1,482,577
Bank Mandiri Persero Tbk PT		3,195,800		1,595,646
Bumi Serpong Damai Tbk PT		5,564,500		731,247
Semen Indonesia Persero Tbk PT		1,792,900		1,347,770
Telekomunikasi Indonesia Persero Tbk PT		4,886,500		1,697,885
Unilever Indonesia Tbk PT		371,900		1,352,276
XL Axiata Tbk PT*		2,884,175		800,862

				9,008,263

Malaysia — 4.1%
Genting Malaysia Bhd		1,292,700		1,647,063
IHH Healthcare Bhd		1,242,200		1,691,569
Malayan Banking Bhd		633,201		1,429,107
Malaysia Airports Holdings Bhd		529,400		1,065,696
Sime Darby Bhd		699,200		1,493,614

				7,327,049

Mexico — 5.0%
Alsea S.A.B.de C.V.		230,087		848,833
Cemex S.A.B. de C.V. ADR*		218,904		1,987,648
Fomento Economico Mexicano S.A.B. de C.V. ADR		21,697		2,072,715
Grupo Financiero Banorte S.A.B. de C.V., Series O		525,225		3,616,005
Grupo Financiero Santander Mexico S.A.B. de C.V., Series B ADR		44,144		445,413

				8,970,614

Netherlands — 0.7%
Steinhoff International Holdings NV		290,828		1,289,514

Pakistan — 0.7%
Lucky Cement Ltd.		52,800		283,193
United Bank Ltd.		505,100		911,553

				1,194,746

Panama — 0.7%
Copa Holdings S.A., Class A		9,785		1,218,526


	Number of Shares		Value†
COMMON STOCKS — (continued)
Peru — 1.4%
Credicorp Ltd.		12,182	$	2,497,554

Philippines — 2.8%
Ayala Corp.		9,240		176,435
Ayala Land, Inc.		1,687,400		1,444,933
Metropolitan Bank & Trust Co.		1,114,473		1,897,694
SM Investments Corp.		90,650		1,575,684

				5,094,746

Poland — 4.5%
Bank Zachodni WBK S.A.		17,476		1,672,887
CCC S.A.		22,992		1,739,050
LPP S.A.		545		1,220,545
Powszechna Kasa Oszczednosci Bank Polski S.A.*		219,392		2,124,176
Powszechny Zaklad Ubezpieczen SA		102,965		1,297,997

				8,054,655

Portugal — 0.7%
Jeronimo Martins SGPS, S.A.		65,599		1,293,993

Russia — 4.9%
Gazprom PJSC ADR		378,866		1,587,449
Gazprom PJSC ADR		27,132		113,683
Mail.Ru Group Ltd. GDR*		29,852		983,922
MMC Norilsk Nickel PJSC. ADR		41,644		716,901
MMC Norilsk Nickel PJSC. ADR		44,851		771,437
Sberbank of Russia PJSC		90,307		1,285,520
X5 Retail Group N.V. GDR*		43,002		1,930,360
Yandex NV, Class A*		44,795		1,475,995

				8,865,267

South Africa — 2.3%
AVI Ltd.		145,338		1,050,953
Capitec Bank Holdings Ltd.		16,308		1,034,786
Clicks Group Ltd.		73,739		860,713
Naspers Ltd., N Shares		5,318		1,146,972
Novus Holdings Ltd.		1,839		887

				4,094,311

South Korea — 8.6%
CJ Corp.		7,241		1,077,915
Coway Co. Ltd.		10,308		845,988
Hanssem Co. Ltd.		3,712		491,001
Hugel, Inc*		2,242		1,031,201
Hyundai Development Co.		25,464		793,700
Hyundai Motor Co.		8,900		1,169,468
Korea Aerospace Industries Ltd.		26,493		1,010,821
Korea Electric Power Corp.		33,433		1,138,418
Mando Corp.		4,492		998,135
NAVER Corp.		2,857		1,858,353
Samsung Electronics Co. Ltd.		2,320		5,193,592

				15,608,592

Switzerland — 0.5%
DKSH Holding AG		11,117		945,407


	Number of Shares		Value†

Taiwan — 7.7%
Advanced Semiconductor Engineering, Inc.		835,516	$	1,022,215
Advantech Co. Ltd.		71,497		509,278
Delta Electronics, Inc.		225,242		1,158,744
Hon Hai Precision Industry Co. Ltd.		387,140		1,340,513
Largan Precision Co. Ltd.		9,000		1,581,915
Nanya Technology Corp.		211,000		597,012
Nien Made Enterprise Co. Ltd		105,000		1,076,870
Taiwan Semiconductor Manufacturing Co. Ltd.		842,769		6,016,999
Uni-President Enterprises Corp.		279,962		586,255

				13,889,801

United Kingdom — 0.1%
Mondi PLC		8,801		235,848

United States — 1.4%
Samsonite International S.A.		583,200		2,501,050

TOTAL COMMON STOCKS (Cost $129,584,108)				171,147,876

PREFERRED STOCKS — 5.5%
Brazil — 4.4%
Banco Bradesco S.A.		275,988		3,065,614
Itau Unibanco Holding S.A.		238,034		3,269,336
Petroleo Brasileiro S.A.*		325,964		1,578,797

				7,913,747

South Korea — 1.1%
Samsung Electronics Co. Ltd.		1,173		2,111,779

TOTAL PREFERRED STOCKS (Cost $7,728,126)				10,025,526

SHORT-TERM INVESTMENTS — 0.4%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $699,139)		699,139		699,139

TOTAL INVESTMENTS — 100.6% (Cost $138,011,373)			$	181,872,541

Other Assets & Liabilities — (0.6)%				(1,148,827	)

TOTAL NET ASSETS — 100.0%			$	180,723,714

†	See Security Valuation Note.

*	Non-income producing security.

GDR — Global Depository Receipt.

ADR — American Depository Receipt.

PLC — Public Limited Company.


COMMON STOCKS INDUSTRY DIVERSIFICATION	% of Market Value			Value†
Advertising		0.6	%	$	945,407
Aerospace & Defense		0.6	%		1,010,821
Airlines		0.7	%		1,218,526
Apparel		2.2	%		3,756,763
Auto Manufacturers		2.9	%		4,980,656
Auto Parts & Equipment		0.6	%		998,135
Banks		22.1	%		37,885,880
Beverages		1.2	%		2,072,715
Biotechnology		0.6	%		1,031,201
Building Materials		3.8	%		6,514,522
Commercial Services		1.4	%		2,453,305
Computers		0.3	%		509,278
Diversified Financial Services		2.8	%		4,721,701
Electric		0.7	%		1,138,418
Electrical Components & Equipment		0.7	%		1,158,744
Electronics		0.9	%		1,550,457
Engineering & Construction		1.2	%		2,031,955
Food		3.7	%		6,380,739
Forest Products & Paper		0.1	%		235,848
Healthcare Services		1.0	%		1,691,569
Holding Companies		2.1	%		3,622,482
Home Furnishings		1.5	%		2,626,503
Household Products & Wares		3.5	%		5,918,163
Insurance		3.0	%		5,063,510
Internet		14.8	%		25,402,437
Lodging		1.0	%		1,647,063
Machinery — Construction & Mining		—	%†		73,190
Media		1.6	%		2,780,318
Mining		0.9	%		1,488,338
Miscellaneous Manufacturing		0.9	%		1,581,915
Oil & Gas		3.3	%		5,559,278
Pharmaceuticals		1.0	%		1,724,915
Real Estate		1.6	%		2,742,804
Retail		6.1	%		10,514,859
Semiconductors		7.5	%		12,829,818
Software		0.3	%		584,339
Telecommunications		2.8	%		4,701,304

		100.0	%	$	171,147,876

†

Rounded.

Summary of inputs used to value the Fund’s investments as of 09/30/2017 are as follows (See Security Valuation Note):


ASSETS TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input			Level 3 Signi- ficant Unobser- vable Input
COMMON STOCKS	$	171,147,876		$	171,147,876	$	—		$	—
PREFERRED STOCKS		10,025,526			10,025,526		—			—
SHORT-TERM INVESTMENTS		699,139			699,139		—			—

TOTAL INVESTMENTS	$	181,872,541		$	181,872,541	$	—		$	—


LIABILITIES TABLE
Description	Total Market Value at 09/30/2017			Level 1 Quoted Price		Level 2 Signi- ficant Obser- vable Input			Level 3 Signi- ficant Unobser- vable Input
OTHER FINANCIAL INSTRUMENTS(1)
Forward Foreign Currency Contracts	$	(5	)	$	—	$	(5	)	$	—

TOTAL LIABILITIES - OTHER FINANCIAL INSTRUMENTS	$	(5	)	$	—	$	(5	)	$	—

(1)	Other financial instruments are derivative instruments not reflected in the value of total investments in securities in the Schedule of Investments such as forward foreign currency contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

It is the Fund’s practice to recognize transfers in and transfers out at the fair value as of the beginning of period.

An amount of $82,964,014 was transferred from Level 2 into Level 1 at 9/30/17 as a result of using quoted prices in active market for such foreign securities. The Fund did not have any transfers in and transfers out of Level 3 fair value hierarchy during the reporting period.

Open forward foreign currency contracts held by Emerging Markets Fund at September 30, 2017 were as follows:


	Currency	Counterparty		Settlement Date		Foreign Currency Contract			Forward Rate		U.S. Contract Amount			U.S. Contract Value			Unrealized Foreign Exchange Gain		Unrealized Foreign Exchange Loss
Sell	Hong Kong Dollar		Bank of New York		12/29/2017		(646,764	)		7.81070	$	(82,801	)	$	(82,805	)	$	—		(4	)
Sell	Hong Kong Dollar		Bank of New York		10/03/2017		(15,460	)		7.81049		(1,979	)		(1,980	)		—		(1	)

Total																	$	0	$	(5	)

The accompanying notes are an integral part of the financial statements.


	Number of Shares		Value†
COMMON STOCKS — 2.4%
Entertainment — 1.1%
Red Rock Resorts, Inc., Class A		62,527	$	1,448,125

Lodging — 1.3%
Hilton Worldwide Holdings, Inc.		25,743		1,787,852

TOTAL COMMON STOCKS (Cost $2,555,421)				3,235,977

REAL ESTATE INVESTMENT TRUSTS — 95.9%
Apartments — 21.5%
American Campus Communities, Inc.		89,131		3,935,134
American Homes 4 Rent, Class A		44,795		972,499
Apartment Investment & Management Co., Class A		96,804		4,245,823
AvalonBay Communities, Inc.		10,204		1,820,598
Camden Property Trust		29,816		2,726,673
Education Realty Trust, Inc.		38,207		1,372,777
Equity Residential		40,403		2,663,770
Essex Property Trust, Inc.		17,037		4,327,909
Starwood Waypoint Homes		18,656		678,519
UDR, Inc.		185,552		7,056,543

				29,800,245

Diversified — 15.1%
Cousins Properties, Inc.		282,427		2,637,868
Crown Castle International Corp.		49,701		4,969,106
Digital Realty Trust, Inc.		49,528		5,860,648
EPR Properties		30,006		2,092,619
Gaming and Leisure Properties, Inc.		55,385		2,043,153
Lamar Advertising Co., Class A		19,843		1,359,841
The GEO Group, Inc.		75,237		2,023,875

				20,987,110

Healthcare — 7.3%
HCP, Inc.		161,765		4,501,920
Healthcare Trust of America, Inc., Class A		144,749		4,313,520
Physicians Realty Trust		76,353		1,353,739

				10,169,179

Hotels & Resorts — 4.1%
Apple Hospitality REIT, Inc.		85,376		1,614,460
Host Hotels & Resorts, Inc.		85,347		1,578,066
Park Hotels & Resorts, Inc.		53,707		1,480,165
RLJ Lodging Trust		47,824		1,052,128

				5,724,819

Industrial — 6.5%
CyrusOne, Inc.		27,969		1,648,213
Gramercy Property Trust		63,351		1,916,368
Prologis, Inc.		86,224		5,471,775

				9,036,356

Manufactured Homes — 3.6%
Equity LifeStyle Properties, Inc.		18,039		1,534,758
Sun Communities, Inc.		39,968		3,424,458

				4,959,216


	Number of Shares		Value†

Office Property — 14.1%
Alexandria Real Estate Equities, Inc.		8,714	$	1,036,705
Boston Properties, Inc.		29,241		3,593,134
Corporate Office Properties Trust		67,612		2,219,702
Douglas Emmett, Inc.		82,741		3,261,650
Empire State Realty Trust, Inc., Class A		97,141		1,995,276
Highwoods Properties, Inc.		28,720		1,496,025
Hudson Pacific Properties, Inc.		32,976		1,105,685
Kilroy Realty Corp.		27,951		1,987,875
SL Green Realty Corp.		27,646		2,801,093

				19,497,145

Regional Malls — 7.2%
GGP, Inc.		141,351		2,935,860
Simon Property Group, Inc.		43,693		7,035,010

				9,970,870

Storage & Warehousing — 5.1%
Extra Space Storage, Inc.		41,281		3,299,178
Life Storage, Inc.		11,681		955,623
Public Storage		13,053		2,793,211

				7,048,012

Strip Centers — 6.2%
Brixmor Property Group, Inc.		35,161		661,027
Regency Centers Corp.		47,335		2,936,663
Urban Edge Properties		84,660		2,041,999
Weingarten Realty Investors		92,435		2,933,887

				8,573,576

Telecommunications — 5.2%
Equinix, Inc.		16,038		7,157,759

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $124,957,985)				132,924,287

SHORT-TERM INVESTMENTS — 1.4%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $1,983,880)		1,983,880		1,983,880

TOTAL INVESTMENTS — 99.7% (Cost $129,497,285)			$	138,144,144

Other Assets & Liabilities — 0.3%				458,809

TOTAL NET ASSETS — 100.0%			$	138,602,953

†	See Security Valuation Note.

REIT — Real Estate Investment Trust.


	Number of Shares		Value†
AFFILIATED EQUITY FUNDS — 55.8%
Penn Series Flexibly Managed Fund*		41,517	$	2,111,533
Penn Series Index 500 Fund*		137,202		2,815,377
Penn Series Large Cap Growth Fund*		127,508		2,111,533
Penn Series Large Cap Value Fund*		155,948		4,223,066
Penn Series Large Core Value Fund*		403,812		7,038,443
Penn Series Large Growth Stock Fund*		18,430		703,844
Penn Series Mid Cap Growth Fund*		79,486		1,407,689
Penn Series Mid Cap Value Fund*		136,246		3,519,222
Penn Series Mid Core Value Fund*		153,010		3,519,221
Penn Series Real Estate Securities Fund*		101,370		2,111,533
Penn Series Small Cap Growth Fund*		56,549		2,111,533
Penn Series Small Cap Index Fund*		31,762		703,844
Penn Series Small Cap Value Fund*		59,163		2,111,533
Penn Series SMID Cap Growth Fund*		56,061		1,407,689
Penn Series SMID Cap Value Fund*		133,709		3,519,221

TOTAL AFFILIATED EQUITY FUNDS (Cost $27,934,834)				39,415,281

AFFILIATED FIXED INCOME FUNDS — 9.0%
Penn Series High Yield Bond Fund*		107,704		1,407,689
Penn Series Limited Maturity Bond Fund*		174,651		2,111,533
Penn Series Quality Bond Fund*		193,231		2,815,377

TOTAL AFFILIATED FIXED INCOME FUNDS (Cost $6,067,697)				6,334,599

AFFILIATED INTERNATIONAL EQUITY FUNDS — 34.8%
Penn Series Developed International Index Fund*		513,380		7,038,443
Penn Series Emerging Markets Equity Fund*		591,466		7,742,288
Penn Series International Equity Fund*		341,199		9,853,820

TOTAL AFFILIATED INTERNATIONAL EQUITY FUNDS (Cost $18,693,311)				24,634,551

TOTAL INVESTMENTS — 99.6% (Cost $52,695,842)			$	70,384,431

Other Assets & Liabilities — 0.4%				302,563

TOTAL NET ASSETS — 100.0%			$	70,686,994

*	Non-income producing security.

†	See Security Valuation Note.


	Number of Shares		Value†
AFFILIATED EQUITY FUNDS — 54.8%
Penn Series Flexibly Managed Fund*		307,891	$	15,659,323
Penn Series Index 500 Fund*		508,750		10,439,549
Penn Series Large Cap Growth Fund*		472,806		7,829,662
Penn Series Large Cap Value Fund*		578,262		15,659,323
Penn Series Large Core Value Fund*		1,497,354		26,098,872
Penn Series Large Growth Stock Fund*		68,340		2,609,887
Penn Series Mid Cap Growth Fund*		294,736		5,219,775
Penn Series Mid Cap Value Fund*		404,164		10,439,549
Penn Series Mid Core Value Fund*		453,893		10,439,549
Penn Series Real Estate Securities Fund*		375,884		7,829,662
Penn Series Small Cap Growth Fund*		139,790		5,219,775
Penn Series Small Cap Index Fund*		235,549		5,219,774
Penn Series Small Cap Value Fund*		219,380		7,829,662
Penn Series SMID Cap Growth Fund*		103,938		2,609,887
Penn Series SMID Cap Value Fund*		396,639		10,439,549

TOTAL AFFILIATED EQUITY FUNDS (Cost $93,669,270)				143,543,798

AFFILIATED FIXED INCOME FUNDS — 17.9%
Penn Series High Yield Bond Fund*		399,371		5,219,775
Penn Series Limited Maturity Bond Fund*		1,295,229		15,659,323
Penn Series Quality Bond Fund*		1,791,275		26,098,872

TOTAL AFFILIATED FIXED INCOME FUNDS (Cost $42,974,405)				46,977,970

AFFILIATED INTERNATIONAL EQUITY FUNDS — 26.9%
Penn Series Developed International Index Fund*		1,332,546		18,269,211
Penn Series Emerging Markets Equity Fund*		1,595,042		20,879,098
Penn Series International Equity Fund*		1,084,441		31,318,647

TOTAL AFFILIATED INTERNATIONAL EQUITY FUNDS (Cost $51,629,742)				70,466,956

TOTAL INVESTMENTS — 99.6% (Cost $188,273,417)			$	260,988,724

Other Assets & Liabilities — 0.4%				1,058,137

TOTAL NET ASSETS — 100.0%			$	262,046,861

†	See Security Valuation Note.

*	Non-income producing security.


	Number of Shares		Value†
AFFILIATED EQUITY FUNDS — 42.9%
Penn Series Flexibly Managed Fund*		400,044	$	20,346,249
Penn Series Index 500 Fund*		495,766		10,173,124
Penn Series Large Cap Growth Fund*		409,546		6,782,083
Penn Series Large Cap Value Fund*		375,669		10,173,124
Penn Series Large Core Value Fund*		1,361,864		23,737,290
Penn Series Large Growth Stock Fund*		88,794		3,391,042
Penn Series Mid Cap Growth Fund*		382,952		6,782,083
Penn Series Mid Cap Value Fund*		393,849		10,173,124
Penn Series Mid Core Value Fund*		737,183		16,955,207
Penn Series Real Estate Securities Fund*		325,592		6,782,083
Penn Series Small Cap Growth Fund*		90,815		3,391,042
Penn Series Small Cap Index Fund*		306,051		6,782,083
Penn Series Small Cap Value Fund*		285,041		10,173,124
Penn Series SMID Cap Growth Fund*		135,047		3,391,041
Penn Series SMID Cap Value Fund*		257,678		6,782,083

TOTAL AFFILIATED EQUITY FUNDS (Cost $92,263,100)				145,814,782

AFFILIATED FIXED INCOME FUNDS — 38.0%
Penn Series High Yield Bond Fund*		778,357		10,173,124
Penn Series Limited Maturity Bond Fund*		2,524,348		30,519,373
Penn Series Quality Bond Fund*		6,051,275		88,167,078

TOTAL AFFILIATED FIXED INCOME FUNDS (Cost $114,380,937)				128,859,575

AFFILIATED INTERNATIONAL EQUITY FUNDS — 19.0%
Penn Series Developed International Index Fund*		1,236,704		16,955,208
Penn Series Emerging Markets Equity Fund*		1,295,279		16,955,207
Penn Series International Equity Fund*		1,056,765		30,519,373

TOTAL AFFILIATED INTERNATIONAL EQUITY FUNDS (Cost $44,039,849)				64,429,788

TOTAL INVESTMENTS — 99.9% (Cost $250,683,886)			$	339,104,145

Other Assets & Liabilities — 0.1%				230,929

TOTAL NET ASSETS — 100.0%			$	339,335,074

†	See Security Valuation Note.

*	Non-income producing security.


	Number of Shares		Value†
AFFILIATED EQUITY FUNDS — 30.7%
Penn Series Flexibly Managed Fund*		153,007	$	7,781,922
Penn Series Index 500 Fund*		94,809		1,945,480
Penn Series Large Cap Growth Fund*		117,481		1,945,481
Penn Series Large Cap Value Fund*		107,763		2,918,221
Penn Series Large Core Value Fund*		390,659		6,809,181
Penn Series Mid Cap Value Fund*		37,659		972,740
Penn Series Mid Core Value Fund*		84,586		1,945,480
Penn Series Real Estate Securities Fund*		93,398		1,945,481
Penn Series Small Cap Index Fund*		43,896		972,740
Penn Series Small Cap Value Fund*		54,511		1,945,480
Penn Series SMID Cap Value Fund*		36,958		972,740

TOTAL AFFILIATED EQUITY FUNDS (Cost $20,179,352)				30,154,946

AFFILIATED FIXED INCOME FUNDS — 56.5%
Penn Series High Yield Bond Fund*		223,276		2,918,221
Penn Series Limited Maturity Bond Fund*		1,528,707		18,482,064
Penn Series Quality Bond Fund*		2,336,713		34,045,906

TOTAL AFFILIATED FIXED INCOME FUNDS (Cost $48,969,650)				55,446,191

AFFILIATED INTERNATIONAL EQUITY FUNDS — 11.9%
Penn Series Developed International Index Fund*		212,853		2,918,221
Penn Series Emerging Markets Equity Fund*		222,935		2,918,220
Penn Series International Equity Fund*		202,093		5,836,441

TOTAL AFFILIATED INTERNATIONAL EQUITY FUNDS (Cost $8,228,551)				11,672,882

SHORT-TERM INVESTMENTS — 0.1%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $50,650)		50,650		50,650

TOTAL INVESTMENTS — 99.2% (Cost $77,428,203)			$	97,324,669

Other Assets & Liabilities — 0.8%				771,255

TOTAL NET ASSETS — 100.0%			$	98,095,924

†	See Security Valuation Note.

*	Non-income producing security.


	Number of Shares		Value†
AFFILIATED EQUITY FUNDS — 17.8%
Penn Series Flexibly Managed Fund*		92,663	$	4,712,844
Penn Series Index 500 Fund*		28,709		589,105
Penn Series Large Cap Value Fund*		21,754		589,106
Penn Series Large Core Value Fund*		168,992		2,945,528
Penn Series Mid Core Value Fund*		51,227		1,178,211
Penn Series Real Estate Securities Fund*		28,282		589,106

TOTAL AFFILIATED EQUITY FUNDS (Cost $8,064,630)				10,603,900

AFFILIATED FIXED INCOME FUNDS — 76.1%
Penn Series High Yield Bond Fund*		135,219		1,767,317
Penn Series Limited Maturity Bond Fund*		1,413,074		17,084,061
Penn Series Quality Bond Fund*		1,819,475		26,509,749

TOTAL AFFILIATED FIXED INCOME FUNDS (Cost $40,764,499)				45,361,127

AFFILIATED INTERNATIONAL EQUITY FUNDS — 4.9%
Penn Series Developed International Index Fund*		85,938		1,178,211
Penn Series Emerging Markets Equity Fund*		45,004		589,106
Penn Series International Equity Fund*		40,797		1,178,211

TOTAL AFFILIATED INTERNATIONAL EQUITY FUNDS (Cost $2,460,533)				2,945,528

TOTAL INVESTMENTS — 98.8% (Cost $51,289,662)			$	58,910,555

Other Assets & Liabilities — 1.2%				730,846

TOTAL NET ASSETS — 100.0%			$	59,641,401

†	See Security Valuation Note.

*	Non-income producing security.

Money Market Fund — Investments in securities are valued using the amortized cost method as permitted by Rule 2a-7 under the Investment Company Act of 1940, which involves initially valuing investments at cost and thereafter assuming a constant amortization to maturity of any premium or discount. This method approximates market value.

Limited Maturity Bond, Quality Bond, High Yield Bond, Flexibly Managed, Large Growth Stock, Large Cap Growth, Large Core Growth, Large Cap Value, Large Core Value, Index 500, Mid Cap Growth, Mid Cap Value, Mid Core Value, SMID Cap Growth, SMID Cap Value, Small Cap Growth, Small Cap Value, Small Cap Index, Developed International Index, International Equity, Emerging Markets Equity, Real Estate Securities Funds — Portfolio securities listed on a securities exchange or an automated quotation system for which quotations are readily available, including securities traded over the counter, are valued at the last quoted sale price on the principal exchange or market on which they are traded on the valuation date or, if there is no such reported sale on the valuation date, at the most recent quoted bid price. Debt and fixed income securities are valued by recognized independent third-party valuation services, employing evaluation methodologies that utilize actual market transactions, broker-dealer supplied valuations, and matrix pricing. Matrix pricing for corporate bonds, floating rate notes, municipal securities and U.S. government and government agency obligations considers yield or price of bonds of comparable quality, coupon, maturity and type and, for asset backed securities, commercial mortgage securities and U.S. government agency mortgage securities, also considers prepayment speed assumptions and attributes and performance of the underlying collateral. Securities valued according to these evaluation methods are generally categorized as level 2 in the fair value hierarchy described below. To the extent that bid prices are provided by the pricing service, the Funds will use the bid price. Debt obligations with remaining maturities of sixty days or less may be valued at their amortized cost, which approximates market value. The prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates.

Securities for which market quotations are not readily available are valued by methods deemed by the Board of Directors to represent fair value. The Penn Series Valuation Committee (the “Valuation Committee”) , established by and subject to oversight by the Board of Directors, develops pricing related policies and procedures and approves all fair value determinations. The Valuation Committee consists of representatives from the Adviser and Administrator. The Valuation Committee regularly makes good faith judgments, using sources and information obtained, including recommendations and supporting rationales and inputs from the Adviser or the applicable sub adviser, to establish and /or adjust fair valuations of securities as events occur and circumstances warrant. The information and inputs may include but are not limited to cost of the security, last sale price, private transaction trading prices, comparable publically traded security prices, illiquidity premiums, publically disclosed news stories and regulatory filings, estimated cash flows and yield curves. As part of its procedures, the Valuation Committee monitors the fair valued securities, considers additional news or significant developments relative to the specific security, reviews the valuations with the Adviser or respective sub adviser on a regular basis and applies back testing procedures to valuations as applicable. Reasons for which securities may be valued in this manner include, but are not limited to, trading on an exchange for a security has not begun or has been halted or suspended, a security has been de-listed from a national exchange, trading on a security’s primary market is temporarily closed at a time when under normal conditions it would be open or valuation by a third party pricing service is currently not available or is no longer available.

Options are valued at the last traded price on the market where such options are principally traded or, if there was no trade on such day, at the last bid quote. Futures contracts are valued at the last settlement price on the market where such futures contracts are principally traded.

To assess the continuing appropriateness of third party pricing service security valuations, the Adviser or sub adviser, as applicable, or the fund accounting service provider, who is subject to oversight by the Administrator, regularly monitor the prices and compare prices to alternate sources where applicable. Pricing challenges are issued for valuation differences exceeding certain tolerances or when considered not reflective of market by the Adviser or sub adviser, as applicable.

Certain events may occur between the time that foreign markets close, on which securities held by the Fund principally trade, and the time at which the Fund’s NAV is calculated. These securities are valued at a fair value utilizing an independent third-party valuation service in accordance with procedures adopted by the Fund’s Board of Directors. The methodology and procedures followed by the valuation service consider the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as ADRs, financial futures, ETFs, and certain indexes as well as prices for similar securities. Securities valued using such valuation service are classified as Level 2 of the fair value hierarchy as these adjustment factors are considered other observable inputs to the valuation. Values from the valuation service are applied in the event that there is a movement in U.S. market that exceeds a specific threshold that has been established by the Valuation Committee. The Valuation Committee has also established a “confidence interval,” which is used to determine the level of historical correlation between the value of a specific foreign security and movements in the U.S. market before a particular security will be fair valued when the threshold is exceeded. In the event that the threshold established by the Valuation Committee is exceeded on a specific day, the Funds shall value the non-U.S. securities in their portfolios that exceed the applicable “confidence interval” based upon the adjusted prices provided by the fair valuation service.

The determination of a security’s fair value price often involves the consideration of a number of subjective factors, and is therefore subject to the unavoidable risk that the value assigned to a security may be higher or lower than the security’s value would be if a reliable market quotation for the security was readily available.

Balanced, Aggressive Allocation, Moderately Aggressive Allocation, Moderate Allocation, Moderately Conservative Allocation and Conservative Allocation Funds — The valuation of each Fund’s investment in its Underlying Funds is based on the net asset values of the Underlying Funds each business day.

Fair value measurements are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund’s investments. Inputs refer broadly to the assumptions that market participants would use in pricing an asset. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. These inputs are summarized into three broad levels as follows:

Transfers between levels 1 and 2 during the period ended September 30, 2017, if any, are shown as notes on the Schedule of Investments of the individual fund.

Significant Level 3 items at September 30, 2017 consist of $4,621,676 of equities in the Large Growth Stock Fund, which were not publicly trading. The unobservable inputs used in valuing these securities include new rounds of financing, negotiated transactions of significant size between other investors in the company, relevant market valuations of peer companies and strategic events affecting the company. Significant increases (decreases) in the valuation indicated by the new rounds of financing, valuations observed through negotiated transactions between other investors in the company or changes in the market valuation of relevant peer companies would result in directionally similar changes to the fair value. Fair value determinations are reviewed and updated on a regular basis and as information becomes available, including actual purchase and sale transactions of the issue.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

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

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


Country Weightings as of 09/30/2017 ††
United States	88	%
Cayman Islands	8
Netherlands	2
Canada	1
Ireland	1

Total	100	%


	Number of Shares		Value†
AFFILIATED EQUITY FUNDS — 59.9%
Penn Series Index 500 Fund* (Cost $20,520,437)		2,389,668	$	49,035,994

AFFILIATED FIXED INCOME FUNDS — 40.0%
Penn Series Quality Bond Fund* (Cost $26,635,684)		2,243,697		32,690,663

TOTAL INVESTMENTS — 99.9% (Cost $47,156,121)			$	81,726,657

Other Assets & Liabilities — 0.1%				113,069

TOTAL NET ASSETS — 100.0%			$	81,839,726


Country Weightings as of 09/30/2017 ††
United States	91	%
Argentina	2
Canada	2
Ireland	2
United Kingdom	2
Bermuda	1

Total	100	%


	Currency		Counterparty		Settlement Date		Foreign Currency Contract			Forward Rate		U.S. Contract Amount			U.S. Contract Value			Unrealized Foreign Exchange Gain		Unrealized Foreign Exchange Loss
Sell		Canadian Dollar		Morgan Stanley		12/29/2017		(1,899,580	)		1.24701	$	(1,536,119	)	$	(1,523,308	)	$	12,811	$	—
Sell		Euro		UBS		10/03/2017		(14,316	)		0.84591		(16,899	)		(16,923	)		—		(24	)
Sell		Euro		UBS		12/29/2017		(358,672	)		0.84164		(425,123	)		(426,158	)		—		(1,035	)
Buy		Euro		UBS		12/29/2017		20,073			0.84164		23,806			23,850			44		—
Sell		Japanese Yen		Credit Suisse		12/29/2017		(63,509,933	)		111.98825		(571,305	)		(567,113	)		4,192		—
Sell		Norwegian Krone		JP Morgan Chase		12/29/2017		(2,883,265	)		7.94708		(366,938	)		(362,808	)		4,130		—

Total																		$	21,176	$	(1,059	)


	Number of Shares		Value†
SHORT-TERM INVESTMENTS — 5.0%
BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares (Cost $3,128,611)		3,128,611	$	3,128,611

TOTAL INVESTMENTS — 99.6% (Cost $54,127,975)			$	62,511,164

Other Assets & Liabilities — 0.4%				268,372

TOTAL NET ASSETS — 100.0%			$	62,779,536


(Registrant)		Penn Series Funds, Inc.

By (Signature and Title)*		/s/ David M. O’Malley
		David M. O’Malley, President
		(principal executive officer)


By (Signature and Title)*		/s/ Steven Viola
		Steven Viola, Treasurer
		(principal financial officer)