Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

1

Shares

Registered

Investment

Companies

(

44.5%

)

Value

Unaffiliated  (0.8%)

12,398

Health

Care

Select

Sector

SPDR

Fund

$

1,308,361

12,537

iShares

Dow

Jones

US

Home

Construction

Index

Fund

647,661

4,943

ProShares

Ultra

S&P

500

690,537

27,064

SPDR

S&P

500

ETF

Trust

8,836,937

13,375

SPDR

S&P

Regional

Banking

ETF

502,633

1,420

Utilities

Select

Sector

SPDR

Fund

a

86,379

Total

12,072,508

Affiliated  (43.7%)

2,767,316

Thrivent

Core

Emerging

Markets

Equity

Fund

b

27,977,569

6,031,233

Thrivent

Core

International

Equity

Fund

51,747,983

7,476,236

Thrivent

Core

Low

Volatility

Equity

Fund

88,144,822

1,627,130

Thrivent

Global

Stock

Fund,

Class

S

39,213,835

1,470,369

Thrivent

High

Yield

Fund,

Class

S

6,690,178

489,304

Thrivent

Income

Fund,

Class

S

4,986,009

12,775,335

Thrivent

International

Allocation

Fund,

Class

S

118,427,353

8,260,339

Thrivent

Large

Cap

Growth

Fund,

Class

S

132,578,438

3,208,458

Thrivent

Large

Cap

Value

Fund,

Class

S

66,383,003

584,450

Thrivent

Limited

Maturity

Bond

Fund,

Class

S

7,410,820

2,969,214

Thrivent

Mid

Cap

Stock

Fund,

Class

S

79,871,851

1,493,352

Thrivent

Small

Cap

Stock

Fund,

Class

S

31,763,591

Total

655,195,452

Total

Registered

Investment

Companies

(cost

$539,303,011)

667,267,960

Shares

Common

Stock

(

41.6%

)

Value

Communications

Services

(1.6%)

4,373

Activision

Blizzard,

Inc.

361,341

1,963

Alphabet,

Inc.,

Class

A

b

2,920,846

1,439

Alphabet,

Inc.,

Class

C

b

2,133,979

8,848

AMC

Entertainment

Holdings,

Inc.

35,746

2,088

AMC

Networks,

Inc.

b

48,233

4,323

AT&T,

Inc.

127,874

13,607

Auto

Trader

Group

plc

c

95,052

1,509

Carsales.com,

Ltd.

19,727

9,512

Cinemark

Holdings,

Inc.

112,527

15

Cogeco

Communications,

Inc.

1,143

58,897

Comcast

Corporation

2,520,792

2,500

Consolidated

Communications

Holdings,

Inc.

b

18,250

807

Deutsche

Telekom

AG

13,473

23,460

Discovery,

Inc.,

Class

A

a,b

495,006

20,618

DISH

Network

Corporation

b

662,044

4,055

EchoStar

Corporation

b

110,702

6,570

Facebook,

Inc.

b

1,666,612

31,599

Gannett

Company,

Inc.

46,767

701

Hemisphere

Media

Group,

Inc.

b

6,169

7,000

HKT

Trust

and

HKT,

Ltd.

10,314

396

IAC/

InterActiveCorp

b

52,438

5,455

Interpublic

Group

of

Companies,

Inc.

98,463

253

Ipsos

SA

6,715

Shares

Common

Stock

(41.6%)

Value

Communications

Services

(1.6%)

-

continued

700

KDDI

Corporation

$

22,258

2,563

Lions

Gate

Entertainment

Corporation,

Class

A

b

19,633

3,206

Lions

Gate

Entertainment

Corporation,

Class

B

b

22,795

36,175

Live

Nation

Entertainment,

Inc.

b

1,693,352

290

Madison

Square

Garden

Entertainment

Corporation

b

20,549

466

Match

Group,

Inc.

b

47,858

7,619

Mediaset

Espana

Comunicacion

SA

b

24,922

6,568

Meredith

Corporation

94,316

991

News

Corporation

12,645

100

NEXON

Company,

Ltd.

2,569

100

Nintendo

Company,

Ltd.

43,981

300

Nippon

Telegraph

&

Telephone

Corporation

6,963

1,100

NTT

DOCOMO,

Inc.

30,284

40,068

ORBCOMM,

Inc.

b

168,686

109,565

QuinStreet

,

Inc.

b

1,279,171

612

Rightmove

plc

4,417

6,394

RingCentral,

Inc.

b

1,855,986

1,232

Scholastic

Corporation

29,482

3,229

Seven

West

Media,

Ltd.

b

228

3,700

SoftBank

Corporation

49,529

800

SoftBank

Group

Corporation

50,458

6,533

Take-Two

Interactive

Software,

Inc.

b

1,071,543

2,500

TV

Asahi

Holdings

Corporation

34,188

20,541

Twitter,

Inc.

b

747,692

10,076

Uber

Technologies,

Inc.

b

304,900

60,163

Verizon

Communications,

Inc.

3,458,169

1,166

ViacomCBS

,

Inc.

30,398

6,238

Walt

Disney

Company

729,472

542

Wolters

Kluwer

NV

42,687

15,652

Zillow

Group,

Inc.

b

1,065,745

Total

24,529,089

Consumer

Discretionary

(4.8%)

2,532

Aaron's,

Inc.

132,120

2,578

Abercrombie

&

Fitch

Company

24,826

3,919

Adient

plc

b

65,212

2,133

Amazon.com,

Inc.

b

6,750,262

10,655

American

Eagle

Outfitters,

Inc.

106,550

665

American

Public

Education,

Inc.

b

19,358

100

AOKI

Holdings,

Inc.

515

38,357

Aptiv

plc

2,982,257

3,676

At

Home

Group,

Inc.

b

45,656

300

Autobacs

Seven

Company,

Ltd.

3,495

276

Autogrill

SPA

b

1,320

656

AutoZone,

Inc.

b

792,067

4,245

B&M

European

Value

Retail

SA

25,522

4,689

Beazer

Homes

USA,

Inc.

b

52,470

8,295

Bed

Bath

&

Beyond,

Inc.

89,752

507

Berkeley

Group

Holdings

plc

29,417

1,879

Big

Lots,

Inc.

73,920

4,562

BJ's

Restaurants,

Inc.

91,514

180

Bloomin

'

Brands,

Inc.

2,074

360

Booking

Holdings,

Inc.

b

598,367

200

Bridgestone

Corporation

5,891

18,410

Bright

Horizons

Family

Solutions,

Inc.

b

1,974,288

163

Bunzl

plc

4,669

14,260

Burlington

Stores,

Inc.

b

2,680,880

2,390

Caesars

Entertainment,

Inc.

b

74,209

1,652

Caleres

,

Inc.

10,424

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

2

Shares

Common

Stock

(41.6%)

Value

Consumer

Discretionary

(4.8%)

-

continued

2,272

Camping

World

Holdings,

Inc.

$

83,201

4,561

Capri

Holdings,

Ltd.

b

68,324

5,704

Carnival

Corporation

79,171

36,751

Cedar

Fair,

LP

876,144

3,844

Century

Casinos,

Inc.

b

15,491

1,178

Century

Communities,

Inc.

b

41,960

17,484

Chewy,

Inc.

a,b

917,735

31,883

Chico's

FAS,

Inc.

40,491

461

Children's

Place,

Inc.

11,253

1,746

Chipotle

Mexican

Grill,

Inc.

b

2,016,909

400

Chiyoda

Company,

Ltd.

3,823

65

Churchill

Downs,

Inc.

9,004

38

Cie

Generale

des

Etablissements

Michelin

3,935

4,100

Citizen

Watch

Company,

Ltd.

11,175

233

Collins

Foods,

Ltd.

1,575

99,067

Cooper-Standard

Holdings,

Inc.

b

1,061,008

2,240

Cracker

Barrel

Old

Country

Store,

Inc.

247,453

31,325

Crocs,

Inc.

b

1,125,820

3,842

Culp,

Inc.

42,646

15,012

D.R.

Horton,

Inc.

993,194

4,393

Dana,

Inc.

50,212

3,842

Darden

Restaurants,

Inc.

291,608

4,217

Dave

&

Buster's

Entertainment,

Inc.

52,038

918

Deckers

Outdoor

Corporation

b

192,091

1,531

Denny's

Corporation

b

13,603

1,800

Denso

Corporation

66,587

3,598

Designer

Brands,

Inc.

21,264

2,473

Dick's

Sporting

Goods,

Inc.

112,818

1,640

Dine

Brands

Global,

Inc.

74,505

1,261

Dollarama

,

Inc.

46,111

130

Dometic

Group

AB

c

1,269

4,139

Domino's

Pizza,

Inc.

1,600,179

85

Dorman

Products,

Inc.

b

6,949

59,600

Duluth

Holdings,

Inc.

a,b

440,444

7,571

Emerald

Holding,

Inc.

20,593

3,300

Ethan

Allen

Interiors,

Inc.

39,072

21,459

Etsy,

Inc.

b

2,540,316

158

Europris

ASA

c

777

2,666

Express,

Inc.

b

2,693

4,417

Extended

Stay

America,

Inc.

50,398

31,543

Five

Below,

Inc.

b

3,435,348

7,409

Foot

Locker,

Inc.

217,750

2,857

Fossil,

Inc.

b

9,457

246

Fox

Factory

Holding

Corporation

b

21,894

7,000

Galaxy

Entertainment

Group,

Ltd.

47,738

4,227

GameStop

Corporation

b

16,950

4,930

Gap,

Inc.

65,914

5,495

Garrett

Motion,

Inc.

b

32,311

5,308

Genuine

Parts

Company

478,516

956

G-III

Apparel

Group,

Ltd.

b

9,455

7,258

Goodyear

Tire

&

Rubber

Company

65,395

2,007

Grand

Canyon

Education,

Inc.

b

178,101

920

GVC

Holdings

plc

7,962

32

Hermes

International

25,944

8,046

Home

Depot,

Inc.

2,136,133

949

Hooker

Furniture

Corporation

20,309

980

Hovnanian

Enterprises,

Inc.

b

22,834

635

Husqvarna

AB

6,077

1,224

Industria

de

Diseno

Textil

SA

32,433

41

InterContinental

Hotels

Group

plc

1,888

1,306

Jack

in

the

Box,

Inc.

107,236

3,934

KB

Home

132,340

9,128

Knoll,

Inc.

106,889

Shares

Common

Stock

(41.6%)

Value

Consumer

Discretionary

(4.8%)

-

continued

4,445

Kohl's

Corporation

$

84,633

1,511

Kontoor

Brands,

Inc.

28,951

4,990

L

Brands,

Inc.

121,806

5,544

Lear

Corporation

611,947

33,431

Leggett

&

Platt,

Inc.

1,340,249

952

Lithia

Motors,

Inc.

218,151

17,059

Lowe's

Companies,

Inc.

2,540,256

4,416

Lululemon

Athletica

,

Inc.

b

1,437,805

9

LVMH

Moet

Hennessy

Louis

Vuitton

SE

3,914

7,378

Macy's,

Inc.

44,711

290

Madison

Square

Garden

Sports

Corporation

b

44,570

3,541

Marcus

Corporation

48,901

358

Marriott

Vacations

Worldwide

Corporation

30,308

21,510

Mattel,

Inc.

b

238,976

3,397

McDonald's

Corporation

659,969

497

Melia

Hotels

International

SA

b

1,840

29

Mercadolibre

,

Inc.

b

32,614

12,196

Michaels

Companies,

Inc.

b

87,567

3,289

Modine

Manufacturing

Company

b

17,892

5,546

Mohawk

Industries,

Inc.

b

442,848

5,259

Moneysupermarket.com

Group

plc

20,147

34,445

Movado

Group,

Inc.

332,050

362

Netflix,

Inc.

b

176,975

1,400

NHK

Spring

Company,

Ltd.

7,879

100

Nihon

Unisys,

Ltd.

3,026

3,810

NIKE,

Inc.

371,894

900

Nissan

Motor

Company,

Ltd.

3,078

6,652

Nordstrom,

Inc.

91,066

6,440

Norwegian

Cruise

Line

Holdings,

Ltd.

b

87,842

773

NVR,

Inc.

b

3,038,006

1,479

Office

Depot,

Inc.

32,642

21,797

Ollie's

Bargain

Outlet

Holdings,

Inc.

b

2,290,865

200

Onward

Holdings

Company,

Ltd.

491

100

Oriental

Land

Company,

Ltd.

12,064

178

Pandox

AB

2,247

2,001

Park

Hotels

&

Resorts,

Inc.

16,548

23,206

Party

City

Holdco,

Inc.

b

38,058

12,036

Penn

National

Gaming,

Inc.

b

407,419

53,516

Planet

Fitness,

Inc.

b

2,793,535

71,010

Playa

Hotels

and

Resorts

NV

b

257,766

300

PLENUS

Company,

Ltd.

4,583

107

Pool

Corporation

33,887

5,860

PulteGroup,

Inc.

255,496

1,271

PVH

Corporation

61,847

5,857

Qurate

Retail,

Inc.

b

63,900

617

Red

Robin

Gourmet

Burgers,

Inc.

b

5,393

40,335

Red

Rock

Resorts,

Inc.

442,072

3,072

Redrow

plc

17,151

344

Restaurant

Brands

International,

Inc.

19,443

4,548

RH

b

1,307,232

500

Rinnai

Corporation

40,982

2,705

Royal

Caribbean

Cruises,

Ltd.

131,761

9,081

Ruth's

Hospitality

Group,

Inc.

60,797

4,944

Sally

Beauty

Holdings,

Inc.

b

57,400

700

Sangetsu

Company,

Ltd.

9,575

833

Scandic

Hotels

Group

AB

c

2,879

437

SeaWorld

Entertainment,

Inc.

b

6,323

300

SHIMAMURA

Company,

Ltd.

20,862

820

Signet

Jewelers,

Ltd.

8,807

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

3

Shares

Common

Stock

(41.6%)

Value

Consumer

Discretionary

(4.8%)

-

continued

8,088

Six

Flags

Entertainment

Corporation

$

140,650

18,791

Skyline

Corporation

b

530,470

12,578

Sleep

Number

Corporation

b

584,877

500

Sony

Corporation

38,847

14,900

Sony

Corporation

ADR

1,161,604

7,883

Standard

Motor

Products,

Inc.

358,519

32,507

Stoneridge,

Inc.

b

673,545

415

Strategic

Education,

Inc.

52,377

6,900

Sumitomo

Electric

Industries,

Ltd.

77,091

200

Sumitomo

Forestry

Company,

Ltd.

2,236

3,400

Sumitomo

Rubber

Industries,

Ltd.

28,286

351

Super

Retail

Group,

Ltd.

2,218

6,091

Tailored

Brands,

Inc.

1,846

100

Takara

Standard

Company,

Ltd.

1,350

14,804

Taylor

Morrison

Home

Corporation

b

347,154

11,864

Taylor

Wimpey

plc

18,301

7,812

Tenneco,

Inc.

b

57,887

59,748

Texas

Roadhouse,

Inc.

3,357,240

5,188

Thor

Industries,

Inc.

591,380

108

Thule

Group

AB

c

3,213

9,108

TJX

Companies,

Inc.

473,525

8,894

Toll

Brothers,

Inc.

339,751

5,837

TopBuild

Corporation

b

770,017

500

Toyoda

Gosei

Company,

Ltd.

9,804

200

Toyota

Motor

Corporation

11,873

6,138

Tri

Pointe

Homes,

Inc.

b

102,627

1,142

Tupperware

Brands

Corporation

17,621

6,251

Ulta

Beauty,

Inc.

b

1,206,380

2,380

Urban

Outfitters,

Inc.

b

39,365

1,255

Vail

Resorts,

Inc.

240,998

107

Wayfair,

Inc.

b

28,472

2,131

William

Hill

plc

2,901

124

Williams-Sonoma,

Inc.

10,803

8,953

Wingstop

,

Inc.

1,398,906

667

Workhorse

Group,

Inc.

b

10,352

563

YETI

Holdings,

Inc.

b

27,525

1,253

Yum!

Brands,

Inc.

114,086

300

Z

Holdings

Corporation

1,595

34,067

Zumiez

,

Inc.

b

786,948

Total

71,284,284

Consumer

Staples

(1.4%)

387

Andersons,

Inc.

5,503

400

Arcs

Company,

Ltd.

9,281

7,730

BJ's

Wholesale

Club

Holdings,

Inc.

b

309,586

113

British

American

Tobacco

plc

3,734

557

Carlsberg

AS

82,263

14,620

Casey's

General

Stores,

Inc.

2,327,358

1,524

Central

Garden

&

Pet

Company

b

57,699

22,161

Coca-Cola

Company

1,046,886

10,463

Colgate-Palmolive

Company

807,744

1,633

Costco

Wholesale

Corporation

531,590

143,265

Cott

Corporation

2,035,796

408

Davide

Campari-Milano

NV

4,119

42,149

e.l.f

.

Beauty,

Inc.

b

752,781

2,952

Edgewell

Personal

Care

Company

b

88,235

118

Elior

Participations

SCA

c

654

605

ForFarmers

BV

3,884

15

George

Weston,

Ltd.

1,133

142

Glanbia

plc

1,724

35,186

Hain

Celestial

Group,

Inc.

b

1,195,620

47

Heineken

NV

4,553

900

Japan

Tobacco,

Inc.

15,383

9,527

John

B.

Sanfilippo

&

Son,

Inc.

839,996

Shares

Common

Stock

(41.6%)

Value

Consumer

Staples

(1.4%)

-

continued

100

Kao

Corporation

$

7,254

400

Kewpie

Corporation

7,120

4,735

Kimberly-Clark

Corporation

719,909

1,097

Lamb

Weston

Holdings,

Inc.

65,908

4

Lindt

&

Spruengli

AG

30,967

93

L'Oreal

SA

31,213

1,052

McCormick

&

Company,

Inc.

205,035

100

Ministop

Company,

Ltd.

1,369

12,294

Monster

Beverage

Corporation

b

964,833

1,554

Nestle

SA

184,804

355

Orkla

ASA

3,492

6,333

PepsiCo,

Inc.

871,801

4,118

Philip

Morris

International,

Inc.

316,304

5,100

Procter

&

Gamble

Company

668,712

28

Royal

Unibrew

AS

2,833

1,094

Seneca

Foods

Corporation

b

42,863

400

Seven

&

I

Holdings

Company,

Ltd.

12,088

100

Shiseido

Company,

Ltd.

5,572

25,810

Simply

Good

Foods

Company

b

620,472

2,383

Sprouts

Farmers

Markets,

Inc.

b

62,864

700

Sugi

Holdings

Company,

Ltd.

50,579

1,000

Sundrug

Company,

Ltd.

34,031

2,728

TreeHouse

Foods,

Inc.

b

119,541

87,996

Turning

Point

Brands,

Inc.

2,893,308

100

Unicharm

Corporation

4,523

377

Unilever

NV

22,277

3,012

Vector

Group,

Ltd.

26,566

24,805

Wal-Mart

Stores,

Inc.

3,209,767

Total

21,311,527

Energy

(0.9%)

7,298

Abraxas

Petroleum

Corporation

b

1,474

15,734

Antero

Midstream

Corporation

89,212

6,520

Apache

Corporation

100,082

28,395

Archrock

,

Inc.

189,111

37,474

BP

plc

ADR

825,927

141

Canadian

Natural

Resources,

Ltd.

2,487

9,413

Centennial

Resource

Development,

Inc.

b

7,411

3,229

CGG

SA

b

2,764

5,291

ChampionX

Corporation

b

50,317

14,104

Chevron

Corporation

1,183,890

14,561

Cimarex

Energy

Company

356,162

15,393

CNX

Resources

Corporation

b

148,542

10,312

Concho

Resources,

Inc.

541,792

10,160

ConocoPhillips

379,882

7,567

Continental

Resources,

Inc.

130,833

5,115

Core

Laboratories

NV

109,103

1,908

Delek

US

Holdings,

Inc.

33,352

13,194

Devon

Energy

Corporation

138,405

9,239

Diamondback

Energy,

Inc.

368,267

6,400

Eneos

Holdings,

Inc.

22,442

3,632

Eni

SPA

32,353

18,133

EnLink

Midstream,

LLC

44,426

26,167

Enterprise

Products

Partners,

LP

460,539

5,174

EOG

Resources,

Inc.

242,402

21,459

EQT

Corporation

311,585

21,001

Equitrans

Midstream

Corporation

202,660

628

Evolution

Petroleum

Corporation

1,645

5,844

Exterran

Corporation

b

29,045

13,424

Exxon

Mobil

Corporation

564,882

8,648

Frank's

International

NV

b

19,717

66

Gaztransport

Et

Technigaz

SA

6,137

19,832

Gran

Tierra

Energy,

Inc.

b

5,751

25,487

Halliburton

Company

365,229

56,766

Helmerich

&

Payne,

Inc.

1,012,138

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

4

Shares

Common

Stock

(41.6%)

Value

Energy

(0.9%)

-

continued

1,486

John

Wood

Group

plc

$

3,694

9,795

Kosmos

Energy,

Ltd.

15,770

7,417

Liberty

Oilfield

Services,

Inc.

41,906

81

Lundin

Energy

AB

1,889

86,857

Marathon

Oil

Corporation

476,845

22,672

Marathon

Petroleum

Corporation

866,070

498

Nabors

Industries,

Ltd.

21,120

9,860

NexTier

Oilfield

Solutions,

Inc.

b

24,847

93,575

Nine

Energy

Service,

Inc.

b

174,050

10,408

Oceaneering

International,

Inc.

b

58,493

311

OMV

AG

b

9,822

852

ONEOK,

Inc.

23,779

15,874

Patterson-UTI

Energy,

Inc.

61,512

4,691

PBF

Energy,

Inc.

40,718

2,253

PDC

Energy,

Inc.

b

32,128

3,557

Peabody

Energy

Corporation

11,098

8,636

Pioneer

Natural

Resources

Company

837,001

5,086

Plains

GP

Holdings,

LP

40,383

2,579

ProPetro

Holding

Corporation

b

13,849

9,399

QEP

Resources,

Inc.

13,817

5,199

Range

Resources

Corporation

33,586

3,327

Royal

Dutch

Shell

plc,

Class

A

48,626

5,338

Royal

Dutch

Shell

plc,

Class

B

74,927

7,069

RPC,

Inc.

b

20,995

5,293

Schlumberger,

Ltd.

96,015

40,413

SEACOR

Holdings,

Inc.

b

1,175,210

1,535

SM

Energy

Company

4,528

19,082

Southwestern

Energy

Company

b

46,369

28,457

Talos

Energy,

Inc.

b

193,792

2,034

Targa

Resources

Corporation

37,182

533

TC

Energy

Corporation

24,293

620

Tenaris

SA

ADR

7,254

1,972

Total

SE

74,628

30,131

Transocean,

Ltd.

b

61,467

4,725

Tullow

Oil

plc

1,580

7,083

Valero

Energy

Corporation

398,277

323

Vermilion

Energy

Inc

1,317

103

Washington

H.

Soul

Pattinson

and

Company,

Ltd.

1,437

381

Whitecap

Resources,

Inc.

629

53

Woodside

Petroleum,

Ltd.

754

182,043

WPX

Energy,

Inc.

b

1,086,797

Total

14,138,418

Financials

(5.6%)

124

1st

Source

Corporation

4,107

2,866

AB

Industrivarden

b

70,697

20,695

Aflac,

Inc.

736,121

6,181

AG

Mortgage

Investment

Trust,

Inc.

17,245

1,400

AIA

Group,

Ltd.

12,624

45,070

Air

Lease

Corporation

1,181,735

1,104

Alleghany

Corporation

576,641

801

Allianz

SE

166,187

36,880

Ally

Financial,

Inc.

741,288

981

American

Equity

Investment

Life

Holding

Company

24,967

4,801

American

Express

Company

448,029

24,618

American

Financial

Group,

Inc.

1,496,036

15,497

American

International

Group,

Inc.

498,074

2,545

Ameriprise

Financial,

Inc.

390,988

18,618

Ameris

Bancorp

429,610

1,479

Aon

plc

303,520

2,221

Apollo

Commercial

Real

Estate

Finance,

Inc.

20,655

Shares

Common

Stock

(41.6%)

Value

Financials

(5.6%)

-

continued

1,000

Argo

Group

International

Holdings,

Ltd.

$

33,510

11,437

Arthur

J.

Gallagher

&

Company

1,229,363

1,733

Artisan

Partners

Asset

Management,

Inc.

62,787

17,087

Associated

Banc-Corp

219,397

108,455

Assured

Guaranty,

Ltd.

2,367,573

581

Baloise

Holding

AG

88,646

5,663

Bank

Leumi

Le-Israel

BM

28,708

118,005

Bank

of

America

Corporation

2,935,964

1,490

Bank

of

Marin

Bancorp

46,801

236

Bank

of

Montreal

12,911

33,140

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

862,634

545

Bank

OZK

13,107

3,585

BankFinancial

Corporation

26,135

3,680

BankUnited

,

Inc.

74,115

8,404

Banner

Corporation

297,754

4,846

Berkshire

Hathaway,

Inc.

b

948,750

8,505

Berkshire

Hills

Bancorp,

Inc.

84,710

1,554

BlackRock,

Inc.

893,566

1,646

Blackstone

Mortgage

Trust,

Inc.

39,619

960

BOK

Financial

Corporation

53,472

24,329

Boston

Private

Financial

Holdings,

Inc.

143,176

84,378

Bridgewater

Bancshares,

Inc.

b

783,872

4,262

Brighthouse

Financial,

Inc.

b

120,785

15,253

BrightSphere

Investment

Group

205,000

1,454

Brown

&

Brown,

Inc.

66,113

2,328

Byline

Bancorp,

Inc.

30,171

21,730

Capital

One

Financial

Corporation

1,386,374

2,879

Central

Pacific

Financial

Corporation

44,797

7,215

Charles

Schwab

Corporation

239,177

8,485

Chubb,

Ltd.

1,079,631

6,264

CI

Financial

Corporation

86,095

2,269

Cincinnati

Financial

Corporation

176,823

15,975

CIT

Group,

Inc.

303,046

51,651

Citigroup,

Inc.

2,583,067

16,070

Citizens

Financial

Group,

Inc.

398,697

1,071

CME

Group,

Inc.

177,979

7,207

Cohen

&

Steers,

Inc.

433,717

20,347

Colony

Capital,

Inc.

39,066

29,962

Columbia

Banking

System,

Inc.

866,801

21,821

Comerica,

Inc.

840,545

1,385

Commonwealth

Bank

of

Australia

70,462

10,114

Community

Trust

Bancorp,

Inc.

309,590

8,274

Cullen/Frost

Bankers,

Inc.

596,224

4,700

DBS

Group

Holdings,

Ltd.

67,895

235

Deutsche

Boerse

AG

42,757

1,471

Deutsche

Pfandbriefbank

AG

b,c

9,319

281

Diamond

Hill

Investment

Group,

Inc.

32,042

7,765

Discover

Financial

Services

383,824

4,705

DnB

ASA

b

72,266

4,774

East

West

Bancorp,

Inc.

165,467

3,120

Ellington

Residential

Mortgage

REIT

34,476

1,205

Encore

Capital

Group,

Inc.

b

44,019

1,677

Enterprise

Financial

Services

Corporation

48,734

16,850

Essent

Group,

Ltd.

603,736

1,093

Euronext

NV

c

126,261

17,741

Evercore

,

Inc.

981,077

235,195

Everi

Holdings,

Inc.

b

1,335,908

1,477

FBL

Financial

Group,

Inc.

51,370

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

5

Shares

Common

Stock

(41.6%)

Value

Financials

(5.6%)

-

continued

673

Federal

Agricultural

Mortgage

Corporation

$

40,050

3,461

Fifth

Third

Bancorp

68,736

4,578

Financial

Institutions,

Inc.

67,617

2,232

First

American

Financial

Corporation

113,854

467

First

Bancshares,

Inc.

9,298

11,299

First

Busey

Corporation

193,213

834

First

Citizens

BancShares

,

Inc.

355,176

3,631

First

Financial

Corporation

121,384

54,653

First

Interstate

BancSystem

,

Inc.

1,590,949

360

First

Mid-Illinois

Bancshares,

Inc.

8,788

4,790

First

Midwest

Bancorp,

Inc.

58,127

445

First

of

Long

Island

Corporation

6,635

7,169

First

Republic

Bank

806,369

9,199

FlexiGroup

,

Ltd.

8,204

15,532

Glacier

Bancorp,

Inc.

548,435

2,018

Goldman

Sachs

Group,

Inc.

399,483

7,355

Granite

Point

Mortgage

Trust,

Inc.

49,941

9,258

Great

Southern

Bancorp,

Inc.

333,936

9,028

Great

Western

Bancorp,

Inc.

117,364

18

Groupe

Bruxelles

Lambert

SA

1,561

20,044

Hamilton

Lane,

Inc.

1,447,979

17,815

Hancock

Whitney

Corporation

339,554

812

Hanmi

Financial

Corporation

7,495

4,189

Hanover

Insurance

Group,

Inc.

426,775

28,914

Hartford

Financial

Services

Group,

Inc.

1,223,641

44,418

Heartland

Financial

USA,

Inc.

1,387,618

112,799

Heritage

Commerce

Corporation

764,777

6,670

Hometrust

Bancshares,

Inc.

96,181

7,299

Horizon

Bancorp,

Inc.

73,793

7,688

Houlihan

Lokey

,

Inc.

421,302

3,546

HSBC

Holdings

plc

15,967

43

IGM

Financial,

Inc.

1,057

8,188

Independent

Bank

Corporation

114,345

25,848

Interactive

Brokers

Group,

Inc.

1,282,061

1,460

International

Bancshares

Corporation

44,413

18,567

Israel

Discount

Bank,

Ltd.

57,086

12,270

J.P.

Morgan

Chase

&

Company

1,185,773

135

Janus

Henderson

Group

plc

2,820

100

Japan

Exchange

Group,

Inc.

2,375

1,300

Japan

Post

Bank

Company,

Ltd.

9,699

200

Japan

Post

Holdings

Company,

Ltd.

1,366

9,520

Julius

Baer

Group,

Ltd.

417,927

23,518

Kemper

Corporation

1,846,633

99,274

KeyCorp

1,192,281

154

L

E

Lundbergforetagen

AB

b

7,234

2,502

Lakeland

Bancorp,

Inc.

25,470

1,215

Laurentian

Bank

of

Canada

a

24,083

3,960

Loews

Corporation

144,184

7,596

M&T

Bank

Corporation

804,796

1,071

Manulife

Financial

Corporation

14,353

958

Markel

Corporation

b

1,000,669

97

MarketAxess

Holdings,

Inc.

50,120

1,525

Marsh

&

McLennan

Companies,

Inc.

177,815

2,099

Mercantile

Bank

Corporation

44,688

13,124

Meridian

Bancorp,

Inc.

149,679

18,011

MetLife,

Inc.

681,716

10,725

MidWestOne

Financial

Group,

Inc.

193,908

2,700

Mitsubishi

UFJ

Financial

Group,

Inc.

10,118

412

Mizrahi

Tefahot

Bank,

Ltd.

8,636

Shares

Common

Stock

(41.6%)

Value

Financials

(5.6%)

-

continued

28,739

Morgan

Stanley

$

1,404,762

135

Morningstar,

Inc.

22,685

3,449

Mr.

Cooper

Group,

Inc.

b

56,322

200

MS

and

AD

Insurance

Group

Holdings,

Inc.

5,026

4,418

MSCI,

Inc.

1,661,080

722

National

Bank

of

Canada

34,088

91

National

Western

Life

Group,

Inc.

17,726

855

NBT

Bancorp,

Inc.

25,470

8,559

Northern

Trust

Corporation

670,598

2,645

Northwest

Bancshares,

Inc.

26,053

127

OFG

Bancorp

1,661

1,173

Old

Republic

International

Corporation

18,850

3,442

Old

Second

Bancorp,

Inc.

28,637

217

Onex

Corporation

9,646

5,970

PacWest

Bancorp

109,102

370

Paragon

Banking

Group

plc

1,517

327

Pargesa

Holding

SA

25,945

245

Park

National

Corporation

21,011

408

Peapack

-Gladstone

Financial

Corporation

6,642

1,448

Peoples

Bancorp,

Inc.

29,061

27,064

Popular,

Inc.

1,004,345

1,103

Power

Corporation

of

Canada

19,574

14,540

Premier

Financial

Corporation

257,067

14,351

Primerica,

Inc.

1,717,241

41,068

Prosight

Global,

Inc.

b

322,795

1,256

Provident

Financial

Services,

Inc.

17,144

7,424

QCR

Holdings,

Inc.

221,829

35,118

Radian

Group,

Inc.

523,961

30,162

Raymond

James

Financial,

Inc.

2,095,656

9,121

Redwood

Trust,

Inc.

65,033

8,640

Reinsurance

Group

of

America,

Inc.

736,560

4,448

Renasant

Corporation

103,327

666

Royal

Bank

of

Canada

45,943

1,010

S&P

Global,

Inc.

353,753

1,156

Safety

Insurance

Group,

Inc.

87,475

434

Sandy

Spring

Bancorp,

Inc.

10,034

41,792

Santander

Consumer

USA

Holdings,

Inc.

a

767,301

72,090

Seacoast

Banking

Corporation

of

Florida

b

1,361,059

12,948

SEI

Investments

Company

677,569

10,361

Selective

Insurance

Group,

Inc.

563,017

500

Senshu

Ikeda

Holdings,

Inc.

736

149

Signature

Bank

15,277

900

Singapore

Exchange,

Ltd.

5,369

3,143

SLM

Corporation

21,278

5,314

Starwood

Property

Trust,

Inc.

79,444

12,887

State

Auto

Financial

Corporation

199,877

2,419

Sun

Life

Financial,

Inc.

94,289

5,778

SVB

Financial

Group

b

1,295,832

227

Swiss

Life

Holding

AG

82,955

87,779

Synovus

Financial

Corporation

1,768,747

7,754

T.

Rowe

Price

Group,

Inc.

1,070,827

1,443

TCF

Financial

Corporation

39,668

1,439

Territorial

Bancorp,

Inc.

31,615

6,338

Texas

Capital

Bancshares,

Inc.

b

210,548

9,801

TMX

Group,

Ltd.

1,001,869

500

Tokio

Marine

Holdings,

Inc.

21,113

153

Topdanmark

AS

6,543

85

Torchmark

Corporation

6,766

4,222

Toronto-Dominion

Bank

186,821

10,388

TPG

RE

Finance

Trust,

Inc.

90,168

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

6

Shares

Common

Stock

(41.6%)

Value

Financials

(5.6%)

-

continued

2,793

TriCo

Bancshares

$

78,204

49,476

Triumph

Bancorp,

Inc.

b

1,296,271

23,020

Truist

Financial

Corporation

862,329

8,890

TrustCo

Bank

Corporation

51,473

5,847

Two

Harbors

Investment

Corporation

31,749

483

Univest

Financial

Corporation

7,385

512

Walker

&

Dunlop,

Inc.

25,810

2,264

Washington

Trust

Bancorp,

Inc.

75,482

16,815

Webster

Financial

Corporation

458,545

59,660

Wells

Fargo

&

Company

1,447,352

3,563

WesBanco

,

Inc.

70,654

66,239

Western

Alliance

Bancorp

2,381,292

10,174

Western

Asset

Mortgage

Capital

Corporation

21,467

155

Westwood

Holdings

Group,

Inc.

1,761

18,348

Wintrust

Financial

Corporation

785,294

48,434

Zions

Bancorporations

NA

1,572,652

Total

83,541,939

Health

Care

(6.9%)

8,597

Abbott

Laboratories

865,202

1,719

AbbVie,

Inc.

163,150

1,675

Acadia

Healthcare

Company,

Inc.

b

49,932

46,487

ACADIA

Pharmaceuticals,

Inc.

b

1,932,465

376

Acceleron

Pharma,

Inc.

b

37,288

5,798

ADMA

Biologics,

Inc.

b

20,699

1,244

Adverum

Biotechnologies,

Inc.

b

20,862

3,247

Agile

Therapeutics,

Inc.

b

8,117

9,960

Agilent

Technologies,

Inc.

959,447

21,177

Agios

Pharmaceuticals,

Inc.

b

959,742

1,675

Akebia

Therapeutics,

Inc.

b

18,710

4,869

Alexion

Pharmaceuticals,

Inc.

b

499,024

4,264

Align

Technology,

Inc.

b

1,252,848

1,107

Alkermes

plc

b

19,937

3,304

AmerisourceBergen

Corporation

331,028

4,992

Amgen,

Inc.

1,221,393

25,151

AMN

Healthcare

Services,

Inc.

b

1,381,796

2,440

AnaptysBio

,

Inc.

b

43,822

2,301

Anavex

Life

Sciences

Corporation

b

9,710

2,967

Anthem,

Inc.

812,365

5,299

Arena

Pharmaceuticals,

Inc.

b

325,306

4,379

Argenx

SE

ADR

b

1,007,739

742

Assembly

Biosciences,

Inc.

b

16,472

900

Astellas

Pharmaceutical,

Inc.

14,038

1,586

Atara

Biotherapeutics

,

Inc.

b

19,651

660

Athenex

,

Inc.

b

7,003

73

Atrion

Corporation

45,267

427

AVROBIO,

Inc.

b

7,238

28,576

Axonics

Modulation

Technologies,

Inc.

a,b

1,210,479

358

Axsome

Therapeutics,

Inc.

b

25,536

23,670

Bausch

Health

Companies,

Inc.

b

432,451

3,523

Baxter

International,

Inc.

304,317

2,297

Becton,

Dickinson

and

Company

646,238

3,203

Biogen,

Inc.

b

879,832

12,941

Biohaven

Pharmaceutical

Holding

Company,

Ltd.

b

828,742

1,097

Bio-Rad

Laboratories,

Inc.

b

575,804

9,596

Bio-

Techne

Corporation

2,640,435

948

Bluebird

Bio,

Inc.

b

57,544

244

Blueprint

Medicines

Corporation

b

17,856

598

Bruker

Corporation

26,683

1,887

Cantel

Medical

Corporation

89,161

57,445

Catalent

,

Inc.

b

5,017,246

20,080

Centene

Corporation

b

1,310,220

Shares

Common

Stock

(41.6%)

Value

Health

Care

(6.9%)

-

continued

4,353

Cerner

Corporation

$

302,316

2,748

Charles

River

Laboratories

International,

Inc.

b

546,825

531

Chemed

Corporation

261,353

900

Chugai

Pharmaceutical

Company,

Ltd.

40,634

7,199

Cigna

Holding

Company

1,243,195

1,861

Clovis

Oncology,

Inc.

b

10,775

1,817

Community

Health

Systems,

Inc.

b

9,049

7,532

CryoLife

,

Inc.

b

146,196

614

CSL,

Ltd.

119,424

16,251

CVS

Health

Corporation

1,022,838

1,470

CytomX

Therapeutics,

Inc.

b

10,305

400

Daiichi

Sankyo

Company,

Ltd.

35,395

1,859

Danaher

Corporation

378,864

397

Deciphera

Pharmaceuticals,

Inc.

b

18,409

5,926

Dexcom

,

Inc.

b

2,581,010

4,239

Dynavax

Technologies

Corporation

b

34,378

13,237

Edwards

Lifesciences

Corporation

b

1,037,913

100

Eisai

Company,

Ltd.

8,071

2,875

Eli

Lilly

and

Company

432,084

1,598

Encompass

Health

Corporation

108,792

6,962

Gilead

Sciences,

Inc.

484,068

9,093

GlaxoSmithKline

plc

181,136

18,562

GlaxoSmithKline

plc

ADR

748,420

7,795

Global

Blood

Therapeutics,

Inc.

b

526,007

432

Grifols

SA

12,587

37,016

Guardant

Health,

Inc.

b

3,153,023

6,001

Haemonetics

Corporation

b

526,048

65,540

Halozyme

Therapeutics,

Inc.

b

1,782,033

6,950

HCA

Healthcare,

Inc.

880,148

699

HealthStream

,

Inc.

b

15,347

5,343

Hill-Rom

Holdings,

Inc.

519,446

652

Humana,

Inc.

255,877

18

ICU

Medical,

Inc.

b

3,307

355

IDEXX

Laboratories,

Inc.

b

141,201

8,589

ImmunoGen

,

Inc.

b

35,301

2,757

Immunomedics

,

Inc.

b

116,428

886

Incyte

Corporation

b

87,501

1,076

Insmed

,

Inc.

b

28,105

14,201

Inspire

Medical

Systems,

Inc.

b

1,411,011

7,994

Insulet

Corporation

b

1,625,660

1,419

Intuitive

Surgical,

Inc.

b

972,639

977

Invitae

Corporation

b

28,528

1,481

Iovance

Biotherapeutics

,

Inc.

b

43,053

3,773

IQVIA

Holding,

Inc.

b

597,605

4,885

Jazz

Pharmaceuticals,

Inc.

b

528,801

28,047

Johnson

&

Johnson

4,088,131

3,352

Kadmon

Holdings,

Inc.

b

12,268

200

KYORIN

Holdings,

Inc.

3,633

1,847

Laboratory

Corporation

of

America

Holdings

b

356,323

37,863

LHC

Group,

Inc.

b

7,387,450

4,433

Ligand

Pharmaceuticals,

Inc.

a,b

519,459

65

LNA

Sante

3,922

300

M3,

Inc.

15,406

1,577

MacroGenics

,

Inc.

b

40,056

253

Masimo

Corporation

b

55,690

29,209

Medtronic

plc

2,818,084

34,676

Merck

&

Company,

Inc.

2,782,402

974

Mersana

Therapeutics,

Inc.

b

19,363

2,205

Mesa

Laboratories,

Inc.

522,453

695

Mettler

-Toledo

International,

Inc.

b

649,825

154

Mirati

Therapeutics,

Inc.

b

18,682

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

7

Shares

Common

Stock

(41.6%)

Value

Health

Care

(6.9%)

-

continued

4,388

Molina

Healthcare,

Inc.

b

$

810,464

408

Momenta

Pharmaceuticals,

Inc.

b

12,032

9,283

MyoKardia

,

Inc.

b

836,677

1,712

Myovant

Sciences,

Ltd.

b

26,022

23,604

Natera

,

Inc.

b

1,133,464

4,051

National

Healthcare

Corporation

240,305

5,441

Nektar

Therapeutics

b

120,573

291

Neogen

Corporation

b

22,340

9,613

Neurocrine

Biosciences,

Inc.

b

1,157,021

20,336

Nevro

Corporation

b

2,703,875

2,974

Novartis

AG

244,960

2,298

Novo

Nordisk

AS

150,778

2,534

Novo

Nordisk

AS

ADR

165,546

600

Olympus

Corporation

10,792

100,144

Optinose

,

Inc.

b

510,234

2,014

Orthifix

Medical,

Inc.

b

61,850

4,278

PerkinElmer,

Inc.

508,697

555

Pfizer,

Inc.

21,356

14,194

PRA

Health

Sciences,

Inc.

b

1,512,513

1,395

Precision

BioSciences

,

Inc.

b

8,872

2,418

Quest

Diagnostics,

Inc.

307,255

433

Reata

Pharmaceuticals,

Inc.

b

63,954

1,159

Recordati

SPA

62,250

8,218

Repligen

Corporation

b

1,240,178

139

Replimune

Group,

Inc.

b

2,776

819

Roche

Holding

AG

283,666

2,993

Sage

Therapeutics,

Inc.

b

136,391

3,617

Sarepta

Therapeutics,

Inc.

b

555,282

3

Siegfried

Holding

AG

1,567

28,544

Silk

Road

Medical,

Inc.

a,b

1,326,154

231

Sonova

Holding

AG

b

52,230

3,804

Spectrum

Pharmaceuticals,

Inc.

b

11,374

843

STERIS

plc

134,568

4,697

Stryker

Corporation

907,930

554

Surmodics

,

Inc.

b

26,199

31,691

Syneos

Health,

Inc.

b

1,977,201

46,682

Tactile

Systems

Technology,

Inc.

b

1,913,028

900

Takeda

Pharmaceutical

Company,

Ltd.

32,640

33

Tecan

Group

AG

13,840

6,523

Teleflex,

Inc.

2,433,731

5,675

Tenet

Healthcare

Corporation

b

150,047

200

Terumo

Corporation

7,566

3,909

Thermo

Fisher

Scientific,

Inc.

1,618,131

1,485

Tilray

,

Inc.

b

10,959

100

Tsumura

&

Company

2,492

1,003

U.S.

Physical

Therapy,

Inc.

83,309

600

uniQure

B.V.

b

25,038

735

United

Therapeutics

Corporation

b

81,930

4,787

UnitedHealth

Group,

Inc.

1,449,408

5,539

Universal

Health

Services,

Inc.

608,736

5,425

Varian

Medical

Systems,

Inc.

b

774,256

6,953

VBI

Vaccines,

Inc.

b

28,299

14,641

Veeva

Systems,

Inc.

b

3,873,569

1,451

Vertex

Pharmaceuticals,

Inc.

b

394,672

479

Viking

Therapeutics,

Inc.

b

3,363

1,525

Waters

Corporation

b

325,054

150

West

Pharmaceutical

Services,

Inc.

40,331

3,244

Zimmer

Biomet

Holdings,

Inc.

437,486

19,222

Zoetis,

Inc.

2,915,593

Total

103,027,872

Industrials

(6.2%)

982

3M

Company

147,762

22,059

A.O.

Smith

Corporation

1,061,920

Shares

Common

Stock

(41.6%)

Value

Industrials

(6.2%)

-

continued

920

Aalberts

NV

$

32,855

503

Acuity

Brands,

Inc.

49,847

3,671

AECOM

b

132,853

1,866

Aegion

Corporation

b

28,774

24,530

Aerojet

Rocketdyne

Holdings,

Inc.

b

1,011,862

37,551

AGCO

Corporation

2,464,472

5,023

Allegion

plc

499,588

88,179

Altra

Industrial

Motion

Corporation

3,018,367

10

AMERCO

3,177

8,895

American

Airlines

Group,

Inc.

98,912

16,457

AMETEK,

Inc.

1,534,615

9,479

Arcosa

,

Inc.

400,203

52,612

ASGN,

Inc.

b

3,601,818

2,178

Assa

Abloy

AB

48,082

2,314

Atlas

Copco

AB,

Class

A

102,722

968

Atlas

Copco

AB,

Class

B

37,464

2,884

Avis

Budget

Group,

Inc.

b

74,696

13,227

AZZ,

Inc.

417,709

820

Bloom

Energy

Corporation

b

9,971

3,250

Boeing

Company

513,500

18,919

BWX

Technologies,

Inc.

1,031,464

4,335

Carlisle

Companies,

Inc.

516,212

37,123

Carrier

Global

Corporation

1,011,231

14,210

Casella

Waste

Systems,

Inc.

b

787,376

3,266

Caterpillar,

Inc.

433,986

18,412

CBIZ,

Inc.

b

445,202

17,821

Chart

Industries,

Inc.

b

1,221,273

433

CIA

De

Distribucion

Integral

8,085

9,995

Copart

,

Inc.

b

932,034

1,841

Cornerstone

Building

Brands,

Inc.

b

10,438

1,673

CRA

International,

Inc.

69,881

12,668

Crane

Company

716,629

7,155

CSW

Industrials,

Inc.

477,882

8,701

CSX

Corporation

620,729

28,042

Curtiss-Wright

Corporation

2,499,103

110

Dart

Group

plc

927

24,665

Delta

Air

Lines,

Inc.

615,885

1,312

Douglas

Dynamics,

Inc.

46,379

16,184

EMCOR

Group,

Inc.

1,108,604

11,202

Emerson

Electric

Company

694,636

10,477

Encore

Wire

Corporation

525,841

6,397

Expeditors

International

of

Washington,

Inc.

540,610

12,260

Fluor

Corporation

124,929

10,369

Forrester

Research,

Inc.

b

364,056

4,388

FuelCell

Energy,

Inc.

b

9,785

105

Geberit

AG

57,951

5,186

Generac

Holdings,

Inc.

b

817,210

12,192

General

Dynamics

Corporation

1,789,054

4,715

Gorman-Rupp

Company

142,676

300

GS

Yuasa

Corporation

4,665

5,236

GWA

Group,

Ltd.

10,644

400

Hanwa

Company,

Ltd.

7,108

6,771

Heico

Corporation

650,829

27,329

Helios

Technologies,

Inc.

1,033,856

100

Hino

Motors,

Ltd.

577

8,758

Honeywell

International,

Inc.

1,308,182

5,213

Hubbell,

Inc.

703,599

3,369

Huntington

Ingalls

Industries,

Inc.

585,229

1,032

ICF

International,

Inc.

69,774

18,048

IDEX

Corporation

2,974,671

1,422

Illinois

Tool

Works,

Inc.

263,056

1,300

Inaba

Denki

Sangyo

Company,

Ltd.

29,744

6,789

Ingersoll

-

Rand,

Inc.

b

214,464

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

8

Shares

Common

Stock

(41.6%)

Value

Industrials

(6.2%)

-

continued

7,641

John

Bean

Technologies

Corporation

$

716,420

35,717

Johnson

Controls

International

plc

1,374,390

200

Kamigumi

Company,

Ltd.

3,650

5,060

Kansas

City

Southern

869,561

1,600

Kinden

Corporation

24,802

1,158

Koninklijke

Philips

NV

b

59,835

77

Landstar

System,

Inc.

9,377

1,742

Legrand

SA

134,365

990

Lennox

International,

Inc.

265,459

34,979

Lincoln

Electric

Holdings,

Inc.

3,161,752

548

Linde

Public

Limited

Company

134,320

1,812

Lockheed

Martin

Corporation

686,694

17,610

Manpower,

Inc.

1,211,392

5,000

Marubeni

Corporation

23,020

1,802

Masonite

International

Corporation

b

151,999

6,470

Mercury

Systems,

Inc.

b

500,972

140,913

Meritor,

Inc.

b

3,205,771

25,108

Middleby

Corporation

b

2,085,470

3,300

Mitsubishi

Corporation

66,494

500

Mitsuboshi

Belting,

Ltd.

8,276

5,300

Mitsui

&

Company,

Ltd.

79,236

2,771

MSC

Industrial

Direct

Company,

Inc.

182,914

7,972

NAPCO

Security

Technologies,

Inc.

b

210,301

1,659

National

Express

Group

plc

3,301

1,800

Nitto

Kogyo

Corporation

29,282

905

Nobina

AB

b,c

5,700

3,171

Nordson

Corporation

614,001

1,149

Norfolk

Southern

Corporation

220,849

329

Northrop

Grumman

Corporation

106,928

14,627

Old

Dominion

Freight

Line,

Inc.

2,674,108

8,452

Otis

Worldwide

Corporation

530,278

2,723

PageGroup

plc

12,467

8,913

Parker-Hannifin

Corporation

1,594,714

47,194

Primoris

Services

Corporation

756,520

2,372

Quad/Graphics,

Inc.

7,377

49,928

Raven

Industries,

Inc.

1,078,944

16,903

Raytheon

Technologies

Corporation

958,062

700

Recruit

Holdings

Company,

Ltd.

21,837

667

Redde

Northgate

plc

1,435

5,312

Regal-Beloit

Corporation

488,545

5,515

RELX

plc

116,103

860

Republic

Services,

Inc.

75,035

59,317

Ritchie

Brothers

Auctioneers,

Inc.

2,745,191

6,143

Rockwell

Automation,

Inc.

1,340,034

4,831

Roper

Industries,

Inc.

2,089,166

3,828

Ryder

System,

Inc.

140,220

19,463

Saia,

Inc.

b

2,324,855

1,300

Sandvik

AB

b

24,295

1,224

Schneider

Electric

SE

140,349

526

SEEK,

Ltd.

8,090

1,759

Signify

NV

b,c

52,776

7,776

Simpson

Manufacturing

Company,

Inc.

750,851

6,101

SiteOne

Landscape

Supply,

Inc.

b

781,111

2,103

SKF

AB

38,932

20,600

Sojitz

Corporation

43,212

62,404

Southwest

Airlines

Company

1,927,660

659

SP

Plus

Corporation

b

10,471

289

Spirax-Sarco

Engineering

plc

38,621

2,480

Spirit

Aerosystems

Holdings,

Inc.

48,534

2,284

Spirit

Airlines,

Inc.

b

36,110

Shares

Common

Stock

(41.6%)

Value

Industrials

(6.2%)

-

continued

662

SPX

FLOW,

Inc.

b

$

26,533

11,525

Standex

International

Corporation

617,164

21

Stantec

,

Inc.

676

3,600

Sumitomo

Corporation

39,995

42,531

Summit

Materials,

Inc.

b

626,056

200

Taikisha,

Ltd.

5,621

1,443

Teledyne

Technologies,

Inc.

b

442,568

1,211

Thermon

Group

Holdings,

Inc.

b

16,409

500

Toppan

Forms

Company,

Ltd.

4,722

8,062

Toro

Company

575,224

491

Transcontinental,

Inc.

5,660

13,912

Trex

Company,

Inc.

b

1,938,359

13,743

TriMas

Corporation

b

321,586

500

Tsubakimoto

Chain

Company

11,736

1,409

UniFirst

Corporation

262,750

3,574

Union

Pacific

Corporation

619,553

3,322

United

Airlines

Holdings,

Inc.

b

104,244

25,770

United

Rentals,

Inc.

b

4,003,885

11,252

Valmont

Industries,

Inc.

1,363,742

6,092

Verisk

Analytics,

Inc.

1,149,621

392

Vinci

SA

33,738

4,616

Waste

Connections,

Inc.

472,540

2,612

Watsco

,

Inc.

616,615

38,514

Willdan

Group,

Inc.

b

949,755

4,832

XPO

Logistics,

Inc.

b

362,497

300

Yuasa

Trading

Company,

Ltd.

8,022

Total

92,349,340

Information

Technology

(9.6%)

5,297

Accenture

plc

1,190,660

2,538

Adobe,

Inc.

b

1,127,684

1,601

ADTRAN,

Inc.

19,884

11,909

Advanced

Energy

Industries,

Inc.

b

876,145

14,608

Advanced

Micro

Devices,

Inc.

b

1,131,097

100

Advantest

Corporation

5,460

36,013

Agilysys

,

Inc.

b

754,832

14,098

Akamai

Technologies,

Inc.

b

1,585,179

13,903

Alliance

Data

Systems

Corporation

616,737

7,209

Alteryx

,

Inc.

b

1,265,107

516

Amadeus

IT

Holding

SA

25,767

2,859

American

Software,

Inc.

47,088

28,038

Amphenol

Corporation

2,965,299

723

Analog

Devices,

Inc.

83,037

33,498

Anaplan,

Inc.

b

1,521,144

5,124

ANSYS,

Inc.

b

1,591,514

18,402

Apple,

Inc.

7,821,586

39

ASM

International

NV

5,966

360

ASML

Holding

NV

127,994

953

Aspen

Technology,

Inc.

b

92,689

6,712

Atlassian

Corporation

plc

b

1,185,675

6,450

Automatic

Data

Processing,

Inc.

857,269

12,631

Avalara,

Inc.

b

1,698,238

1,816

Avnet,

Inc.

48,524

13,898

Bandwidth,

Inc.

a,b

2,012,152

772

BE

Semiconductor

Industries

NV

34,518

9,656

Benchmark

Electronics,

Inc.

196,596

27,369

Blackline,

Inc.

b

2,433,378

34

Broadcom,

Ltd.

10,769

3,915

Broadridge

Financial

Solutions,

Inc.

525,941

457

CACI

International,

Inc.

b

94,974

700

Canon,

Inc.

11,265

63

Capgemini

SA

8,171

15,880

CDK

Global,

Inc.

721,905

4,604

CDW

Corporation

535,215

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

9

Shares

Common

Stock

(41.6%)

Value

Information

Technology

(9.6%)

-

continued

209

CEVA,

Inc.

b

$

8,402

2,064

CGI,

Inc.

b

147,421

88,521

Change

Healthcare,

Inc.

b

1,032,155

35,418

Ciena

Corporation

b

2,107,725

85,119

Cisco

Systems,

Inc.

4,009,105

11,307

Cognex

Corporation

756,099

3,084

CommScope

Holding

Company,

Inc.

b

28,620

100

Computer

Engineering

&

Consulting,

Ltd.

1,437

25,369

Computer

Services,

Inc.

1,452,375

2,699

Computershare,

Ltd.

25,832

12,053

Coupa

Software,

Inc.

b

3,693,642

5,762

Cree,

Inc.

b

397,117

6,894

CTS

Corporation

136,915

17,843

Descartes

Systems

Group,

Inc.

b

1,005,096

193

Dialog

Semiconductor

plc

b

9,047

12,978

DocuSign,

Inc.

b

2,814,020

44,896

Dolby

Laboratories,

Inc.

3,124,762

638

Domo,

Inc.

b

20,531

31,154

Dropbox,

Inc.

b

708,754

1,210

DSP

Group,

Inc.

b

17,968

26,821

Elastic

NV

b

2,579,912

11,744

Endava

plc

ADR

b

606,578

2,242

EPAM

Systems,

Inc.

b

650,359

3,339

ePlus

,

Inc.

b

248,889

21,819

Euronet

Worldwide,

Inc.

b

2,097,679

40,440

Eventbrite,

Inc.

a,b

344,549

3,847

ExlService

Holdings,

Inc.

b

246,439

585

eXp

World

Holdings,

Inc.

b

11,624

2,281

F5

Networks,

Inc.

b

309,988

325

Fair

Isaac

Corporation

b

142,737

15,648

Five9,

Inc.

b

1,890,591

397

FLIR

Systems,

Inc.

16,539

600

Fuji

Soft,

Inc.

27,069

1,555

Gartner,

Inc.

b

193,815

13,431

Global

Payments,

Inc.

2,390,987

16,359

Guidewire

Software,

Inc.

b

1,924,800

4,685

Halma

plc

133,072

18,873

Health

Catalyst,

Inc.

a,b

658,668

300

Hitachi,

Ltd.

8,986

300

Hoya

Corporation

29,586

5,073

II-VI,

Inc.

b

257,303

7,190

Inphi

Corporation

b

939,445

8,901

Intel

Corporation

424,845

2,546

InterDigital

,

Inc.

152,811

1,936

International

Business

Machines

Corporation

238,012

3,409

Intuit,

Inc.

1,044,415

100

ITOCHU

Techno-Solutions

Corporation

4,061

1,941

Jack

Henry

&

Associates,

Inc.

346,080

100

Japan

Material

Company,

Ltd.

1,522

4,051

Juniper

Networks,

Inc.

102,814

100

Keyence

Corporation

42,169

4,313

KLA-Tencor

Corporation

861,867

4,605

Lam

Research

Corporation

1,736,822

100

Lasertec

Corporation

8,829

63,207

Lattice

Semiconductor

Corporation

b

1,965,106

6,097

Littelfuse

,

Inc.

1,083,132

25,132

Lumentum

Holdings,

Inc.

b

2,333,004

1,519

ManTech

International

Corporation

105,692

7,415

MasterCard,

Inc.

2,287,750

36,446

Medallia

,

Inc.

b

1,119,986

5,332

Methode

Electronics,

Inc.

150,362

Shares

Common

Stock

(41.6%)

Value

Information

Technology

(9.6%)

-

continued

41,880

Microsoft

Corporation

$

8,585,819

3,308

MicroStrategy

,

Inc.

b

409,927

21,307

MKS

Instruments,

Inc.

2,715,364

2,147

MoneyGram

International,

Inc.

b

7,472

24,189

Monolithic

Power

Systems,

Inc.

6,410,327

3,426

Motorola

Solutions,

Inc.

478,955

5,766

MTS

Systems

Corporation

106,959

100

Murata

Manufacturing

Company,

Ltd.

6,423

42,097

National

Instruments

Corporation

1,494,444

2,100

NEC

Networks

&

System

Integration

Corporation

44,612

264

NetApp,

Inc.

11,695

9,033

Nice,

Ltd.

ADR

a,b

1,853,933

11,661

Nova

Measuring

Instruments,

Ltd.

b

599,375

6,158

Novanta

,

Inc.

b

638,461

100

NS

Solutions

Corporation

2,633

100

NSD

Company,

Ltd.

1,818

87,523

Nuance

Communications,

Inc.

b

2,393,754

2,317

NVIDIA

Corporation

983,775

18,950

Oracle

Corporation

1,050,778

100

Oracle

Corporation

Japan

12,046

100

Otsuka

Corporation

5,214

6,946

Palo

Alto

Networks,

Inc.

b

1,777,620

2,204

Paychex,

Inc.

158,512

3,417

PayPal

Holdings,

Inc.

b

669,971

14,603

Plexus

Corporation

b

1,084,857

1,262

Progress

Software

Corporation

43,993

6,290

Proofpoint

,

Inc.

b

727,564

11,993

Q2

Holdings,

Inc.

b

1,127,942

3,640

QAD,

Inc.

143,816

9,226

QUALCOMM,

Inc.

974,358

334

Qualys

,

Inc.

b

41,242

7,780

Rogers

Corporation

b

927,298

300

Ryoyo

Electro

Corporation

8,354

282

Sage

Group

plc

2,676

98,274

SailPoint

Technologies

Holdings,

Inc.

b

3,095,631

984

Salesforce.com,

Inc.

b

191,732

992

Samsung

Electronics

Company,

Ltd.

GDR

1,202,992

63

SAP

SE

9,945

2,670

ScanSource

,

Inc.

b

61,277

1,565

Semtech

Corporation

b

87,217

8,481

ServiceNow

,

Inc.

b

3,724,855

1,152

Silicon

Laboratories,

Inc.

b

115,788

150

Skyworks

Solutions,

Inc.

21,837

3,067

Square,

Inc.

b

398,250

51,294

STMicroelectronics

NV

ADR

a

1,433,154

10,569

Synopsys,

Inc.

b

2,105,556

4,254

TE

Connectivity,

Ltd.

378,904

12,886

Teradyne,

Inc.

1,146,339

20,972

Texas

Instruments,

Inc.

2,674,979

200

TIS,

Inc.

4,283

100

Tokyo

Electron,

Ltd.

27,672

180

Tyler

Technologies,

Inc.

b

64,305

3,895

VeriSign,

Inc.

b

824,494

33,966

Virtusa

Corporation

b

1,379,020

7,976

Visa,

Inc.

1,518,630

3,620

VMware,

Inc.

a,b

507,560

5,776

WEX,

Inc.

b

914,745

10,832

Zscaler

,

Inc.

b

1,406,535

Total

143,243,063

Materials

(1.6%)

4,825

AdvanSix

,

Inc.

b

60,071

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

10

Shares

Common

Stock

(41.6%)

Value

Materials

(1.6%)

-

continued

93

Air

Liquide

SA

$

15,297

1,500

Air

Water,

Inc.

19,448

658

Anglo

American

plc

15,929

3,096

AptarGroup,

Inc.

356,659

1,190

Avery

Dennison

Corporation

134,875

25,860

Axalta

Coating

Systems,

Ltd.

b

574,092

136

Balchem

Corporation

13,635

12,694

Ball

Corporation

934,659

138

Barrick

Gold

Corporation

3,988

717

BHP

Group,

Ltd.

18,878

25,069

Boise

Cascade

Company

1,167,965

2,791

Cabot

Corporation

101,816

1,686

Celanese

Corporation

163,879

651

Centamin

plc

1,743

26,975

CF

Industries

Holdings,

Inc.

845,127

12,582

Chemours

Company

233,144

16

Christian

Hansen

Holding

AS

1,826

526

Croda

International

plc

39,258

25,217

Eastman

Chemical

Company

1,881,945

4,255

Ecolab,

Inc.

796,025

107,864

Element

Solutions,

Inc.

b

1,171,403

22

EMS-CHEMIE

Holding

AG

18,999

52

Eramet

SA

b

1,416

6,790

Ferroglobe

Representation

&

Warranty

Insurance

Trust

b,d

1

9

Givaudan

SA

37,276

1,706

Granges

AB

b

13,780

1,099

Hecla

Mining

Company

6,066

2,667

Hexpol

AB

b

17,745

1,729

Hochschild

Mining

plc

6,127

189

Holmen

AB

6,514

3,085

IAMGOLD

Corporation

b

15,363

74

IMCD

NV

7,652

1,976

Ingevity

Corporation

b

115,556

6,521

Innospec

,

Inc.

490,184

247,678

Ivanhoe

Mines,

Ltd.

b

872,776

7,876

Kaiser

Aluminum

Corporation

487,918

942

Koninklijke

DSM

NV

144,188

3,437

Kraton

Performance

Polymers,

Inc.

b

45,197

1,400

Kyoei

Steel,

Ltd.

16,646

200

Lintec

Corporation

4,666

139,785

Louisiana-Pacific

Corporation

4,426,991

133

MAG

Silver

Corporation

b

2,247

8,911

Martin

Marietta

Materials,

Inc.

1,846,181

4,070

Materion

Corporation

233,699

3,777

Minerals

Technologies,

Inc.

177,066

7,279

Myers

Industries,

Inc.

109,622

6,654

Neenah,

Inc.

296,835

2,800

Nippon

Steel

Corporation

22,958

491

Northern

Star

Resources,

Ltd.

5,573

111

Novozymes

AS

6,640

17,804

Nucor

Corporation

746,878

4,603

Olin

Corporation

51,738

675

Olympic

Steel,

Inc.

7,142

118

Osisko

Gold

Royalties,

Ltd.

1,383

4,217

PPG

Industries,

Inc.

453,960

6,163

Quaker

Chemical

Corporation

1,195,622

920

Ramelius

Resources,

Ltd.

1,454

1,793

Reliance

Steel

&

Aluminum

Company

176,180

401

Rio

Tinto

plc

24,410

435

Rio

Tinto,

Ltd.

31,837

865

RPM

International,

Inc.

70,575

3,838

Ryerson

Holding

Corporation

b

21,608

3,896

Sandfire

Resources,

Ltd.

13,241

Shares

Common

Stock

(41.6%)

Value

Materials

(1.6%)

-

continued

3,026

Sensient

Technologies

Corporation

$

157,987

827

Sherwin-Williams

Company

535,830

100

Shin-Etsu

Chemical

Company,

Ltd.

11,704

275

Sika

AG

60,426

1,623

Silver

Lake

Resources,

Ltd.

b

2,905

34,220

Steel

Dynamics,

Inc.

937,970

3,800

Sumitomo

Chemical

Company,

Ltd.

10,965

345

Symrise

AG

43,129

200

Taiyo

Holdings

Company,

Ltd.

9,449

1,000

Toagosei

Company,

Ltd.

9,534

7,100

Toray

Industries,

Inc.

30,733

700

Ube

Industries,

Ltd.

11,433

16,442

UFP

Technologies,

Inc.

b

709,308

14,201

United

States

Lime

&

Minerals,

Inc.

1,281,072

6,040

United

States

Steel

Corporation

40,226

1,719

UPM-

Kymmene

Oyj

45,887

656

W.

R.

Grace

&

Company

30,261

1,441

Worthington

Industries,

Inc.

53,922

Total

24,766,313

Real

Estate

(2.3%)

28,478

Agree

Realty

Corporation

1,907,172

4,976

Alexandria

Real

Estate

Equities,

Inc.

883,489

883

Allied

Properties

REIT

26,442

932

Alstria

Office

REIT

AG

b

13,932

41,899

American

Campus

Communities,

Inc.

1,493,280

1,232

American

Tower

Corporation

322,032

8,139

Apartment

Investment

&

Management

Company

315,956

4,985

Armada

Hoffler

Properties,

Inc.

48,055

16,760

Ascendas

REIT

43,383

2,200

Ascott

Trust

1,444

1,672

Ashford

Hospitality

Trust,

Inc.

6,554

3,673

AvalonBay

Communities,

Inc.

562,410

382

BBX

Capital

Corporation

5,317

71

Bluerock

Residential

Growth

REIT,

Inc.

514

19,572

Camden

Property

Trust

1,777,333

5,789

CareTrust

REIT,

Inc.

104,318

1,221

Castellum

AB

26,259

9,342

CBL

&

Associates

Properties,

Inc.

b

1,708

41,610

CBRE

Group,

Inc.

b

1,822,934

19,485

Cedar

Realty

Trust,

Inc.

15,851

843

Choice

Properties

REIT

7,980

2,203

City

Office

REIT,

Inc.

19,056

32

Cofinimmo

SA

4,568

18,434

Colliers

International

Group,

Inc.

995,620

2,165

Colony

Credit

Real

Estate,

Inc.

13,639

3,701

Columbia

Property

Trust,

Inc.

44,264

138

Community

Healthcare

Trust,

Inc.

6,311

1,321

Corepoint

Lodging,

Inc.

7,384

7,168

CoreSite

Realty

Corporation

925,030

3,095

CoStar

Group,

Inc.

b

2,630,007

976

CyrusOne

,

Inc.

81,418

400

Daito

Trust

Construction

Company,

Ltd.

31,369

3,977

Digital

Realty

Trust,

Inc.

638,468

9,308

Diversified

Healthcare

Trust

36,255

14,859

Douglas

Emmett,

Inc.

432,991

20,509

Duke

Realty

Corporation

824,257

496

Easterly

Government

Properties,

Inc.

12,127

1,517

EastGroup

Properties,

Inc.

201,245

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

11

Shares

Common

Stock

(41.6%)

Value

Real

Estate

(2.3%)

-

continued

340

Entra

ASA

c

$

4,800

4,053

EPR

Properties

116,037

5,517

Equity

Lifestyle

Properties,

Inc.

376,921

9,611

Equity

Residential

515,438

26,550

Essential

Properties

Realty

Trust,

Inc.

427,455

2,616

Essex

Property

Trust,

Inc.

577,456

2,182

Farmland

Partners,

Inc.

15,078

25,269

First

Industrial

Realty

Trust,

Inc.

1,109,814

8,806

FirstService

Corporation

1,052,757

8,435

Four

Corners

Property

Trust,

Inc.

212,562

1,276

Franklin

Street

Properties

Corporation

6,699

1

Fukuoka

REIT

Corporation

1,161

3,557

Gaming

and

Leisure

Properties,

Inc.

128,799

5,714

Getty

Realty

Corporation

169,306

3,090

Gladstone

Commercial

Corporation

56,238

1,274

Granite

REIT

74,094

7,296

Healthcare

Realty

Trust,

Inc.

213,773

4,319

Healthcare

Trust

of

America,

Inc.

119,248

64,138

Host

Hotels

&

Resorts,

Inc.

691,408

1,251

Hudson

Pacific

Properties,

Inc.

29,486

2,000

Hysan

Development

Company,

Ltd.

5,525

5,460

Industrial

Logistics

Properties

Trust

115,261

1,962

Innovative

Industrial

Properties,

Inc.

204,499

1,266

Investors

Real

Estate

Trust

91,532

29

Japan

Hotel

REIT

Investment

Corporation

10,519

3,099

Jones

Lang

LaSalle,

Inc.

306,522

19,264

Kilroy

Realty

Corporation

1,122,513

234

Kungsleden

AB

1,893

1,196

Lamar

Advertising

Company

78,613

5

LEG

Immobilien

AG

697

3,140

Lexington

Realty

Trust

36,424

4,400

Mapletree

Commercial

Trust

5,925

28,699

Medical

Properties

Trust,

Inc.

577,711

619

MGM

Growth

Properties

LLC

16,923

1

Mori

Trust

Sogo

REIT,

Inc.

1,167

495

National

Health

Investors,

Inc.

30,690

9,327

National

Retail

Properties,

Inc.

330,642

56,031

National

Storage

Affiliates

Trust

1,726,875

11,389

New

Residential

Investment

Corporation

90,315

3,358

New

Senior

Investment

Group,

Inc.

11,417

12,890

NexPoint

Residential

Trust,

Inc.

492,785

2

Nomura

Real

Estate

Master

Fund,

Inc.

2,480

6,182

Omega

Healthcare

Investors,

Inc.

200,173

2,373

One

Liberty

Properties,

Inc.

40,270

1,988

Physicians

Realty

Trust

35,864

1,112

Plymouth

Industrial

REIT,

Inc.

14,756

1,504

PotlatchDeltic

Corporation

64,386

4,482

Preferred

Apartment

Communities,

Inc.

32,405

889

PS

Business

Parks,

Inc.

122,638

825

PSP

Swiss

Property

AG

91,648

2,442

QTS

Realty

Trust,

Inc.

175,702

1,841

Quebecor,

Inc.

42,003

21,412

Rayonier,

Inc.

REIT

594,825

9,436

Retail

Properties

of

America,

Inc.

60,013

17,786

Rexford

Industrial

Realty,

Inc.

834,697

486

RioCan

REIT

5,428

Shares

Common

Stock

(41.6%)

Value

Real

Estate

(2.3%)

-

continued

225

RMR

Group,

Inc.

$

6,471

3,000

Road

King

Infrastructure,

Ltd.

4,036

18,866

Sabra

Health

Care

REIT,

Inc.

278,085

4,280

SBA

Communications

Corporation

1,333,391

30,807

Service

Properties

Trust

206,407

3,705

Spirit

Realty

Capital,

Inc.

127,674

4,668

STAG

Industrial,

Inc.

152,177

5,069

Store

Capital

Corporation

120,085

143,383

Sunstone

Hotel

Investors,

Inc.

1,072,505

300

Swiss

Prime

Site

AG

27,379

2,823

TAG

Immobilien

AG

74,229

10,980

Terreno

Realty

Corporation

667,145

14,321

UDR,

Inc.

518,420

1,993

UMH

Properties,

Inc.

24,514

110

Unibail

-

Rodamco

-Westfield

5,770

3

United

Urban

Investment

Corporation

2,917

14,060

Uniti

Group,

Inc.

139,194

82

Universal

Health

Realty

Income

Trust

5,706

559

Waypoint

REIT,

Ltd.

1,007

7,100

Wing

Tai

Holdings,

Ltd.

8,844

3,452

WP

Carey,

Inc.

246,369

Total

34,786,963

Utilities

(0.7%)

654

AGL

Energy,

Ltd.

7,747

1,492

ALLETE,

Inc.

88,476

10,645

Alliant

Energy

Corporation

573,233

2,355

Artesian

Resources

Corporation

82,613

1,295

Black

Hills

Corporation

74,929

29,417

CenterPoint

Energy,

Inc.

559,217

661

Chesapeake

Utilities

Corporation

55,848

8,911

CMS

Energy

Corporation

571,908

2,120

Consolidated

Water

Company,

Ltd.

26,012

1,789

DTE

Energy

Company

206,862

11,220

Duke

Energy

Corporation

950,783

1,796

Enagas

SA

45,312

455

Enel

SPA

4,168

14,450

Entergy

Corporation

1,519,129

1,345

Essential

Utilities,

Inc.

60,996

14,347

Exelon

Corporation

553,938

14,508

FirstEnergy

Corporation

420,732

3,324

Hawaiian

Electric

Industries,

Inc.

120,528

1,508

IDACORP,

Inc.

140,621

3,225

MDU

Resources

Group,

Inc.

67,661

335

Middlesex

Water

Company

21,460

1,366

National

Fuel

Gas

Company

55,419

5,268

New

Jersey

Resources

Corporation

163,624

1,479

NextEra

Energy,

Inc.

415,155

473

Northland

Power,

Inc.

12,960

767

Northwest

Natural

Holding

Company

41,027

10,422

NorthWestern

Corporation

586,342

5,576

OGE

Energy

Corporation

183,450

1,813

Otter

Tail

Corporation

69,347

22,231

PNM

Resources,

Inc.

938,815

13,670

Portland

General

Electric

Company

603,257

1,031

South

Jersey

Industries,

Inc.

24,053

2,508

Southwest

Gas

Holdings,

Inc.

174,657

10,251

Spire,

Inc.

632,077

7,953

UGI

Corporation

265,153

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

12

Shares

Common

Stock

(41.6%)

Value

Utilities

(0.7%)

-

continued

1,443

Unitil

Corporation

$

62,265

Total

10,379,774

Total

Common

Stock

(cost

$530,818,274)

623,358,582

Principal

Amount

Long-Term

Fixed

Income

(

4.4%

)

Value

Collateralized

Mortgage

Obligations

(<0.1%)

MASTR

Alternative

Loans

Trust

$

27,603

0.622%, 

(LIBOR

1M

+

0.450%),

12/25/2035,

Ser.

2005-6,

Class

2A1

e

4,850

Sequoia

Mortgage

Trust

48,422

3.530%, 

9/20/2046,

Ser.

2007-1,

Class

4A1

e

36,932

WaMu

Mortgage

Pass

Through

Certificates

23,839

3.709%, 

9/25/2036,

Ser.

2006-AR10,

Class

1A2

e

22,058

36,287

3.711%, 

10/25/2036,

Ser.

2006-AR12,

Class

1A1

e

34,478

Total

98,318

Mortgage-Backed

Securities

(1.8%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

1,265,546

3.000%, 

3/25/2050

1,340,140

344,986

3.000%, 

4/1/2050

365,320

524,103

3.500%, 

7/1/2047

554,474

Federal

National

Mortgage

Association

476,908

4.500%, 

5/1/2048

513,081

702,278

3.500%, 

10/1/2048

741,595

796,258

3.500%, 

8/1/2049

842,787

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

2,400,000

2.000%, 

8/1/2035

f

2,496,375

3,480,000

2.500%, 

8/1/2035

f

3,652,369

2,281,000

2.000%, 

9/1/2035

f

2,369,389

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

5,800,000

2.500%, 

8/1/2050

f,g

6,092,945

3,550,000

2.000%, 

9/1/2050

f,g

3,671,062

3,184,000

3.000%, 

9/1/2043

f

3,360,993

1,590,519

4.000%, 

7/1/2048

1,688,490

Total

27,689,020

U.S.

Government

&

Agencies

(2.6%)

U.S.

Treasury

Bonds

1,490,000

2.250%, 

11/15/2027

1,687,192

4,500,000

2.875%, 

5/15/2028

5,340,234

190,000

5.250%, 

11/15/2028

264,300

2,291,000

2.500%, 

5/15/2046

2,968,008

U.S.

Treasury

Notes

600,000

2.750%, 

11/30/2020

605,128

100,000

2.500%, 

2/28/2021

101,359

1,240,000

1.125%, 

8/31/2021

1,253,272

1,250,000

1.500%, 

9/30/2021

1,269,775

410,000

2.000%, 

11/30/2022

427,858

500,000

2.125%, 

7/31/2024

538,867

1,210,000

2.250%, 

11/15/2024

1,316,159

1,930,000

2.125%, 

11/30/2024

2,090,507

Principal

Amount

Long-Term

Fixed

Income

(4.4%)

Value

U.S.

Government

&

Agencies

(2.6%)

-

continued

$

540,000

2.625%, 

1/31/2026

$

609,272

17,570,000

2.500%, 

2/28/2026

19,733,306

Total

38,205,237

Total

Long-Term

Fixed

Income

(cost

$61,250,960)

65,992,575

Shares

Collateral

Held

for

Securities

Loaned

(

0.7%

)

Value

10,738,358

Thrivent

Cash

Management

Trust

10,738,358

Total

Collateral

Held

for

Securities

Loaned

(cost

$10,738,358)

10,738,358

Shares

or

Principal

Amount

Short-Term

Investments

(

10.9%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

2,100,000

0.173%,

8/4/2020

h,i

2,099,996

400,000

0.114%,

8/7/2020

h,i

399,997

10,300,000

0.125%,

8/11/2020

h,i

10,299,840

600,000

0.146%,

8/19/2020

h,i

599,981

5,800,000

0.102%,

8/25/2020

h,i

5,799,752

1,100,000

0.120%,

9/1/2020

h,i

1,099,920

2,700,000

0.160%,

9/2/2020

h,i

2,699,798

5,200,000

0.120%,

9/15/2020

h,i

5,199,441

4,200,000

0.090%,

9/16/2020

h,i

4,199,538

7,800,000

0.090%,

9/17/2020

h,i

7,799,123

4,600,000

0.090%,

9/21/2020

h,i

4,599,437

500,000

0.090%,

9/23/2020

h,i

499,936

300,000

0.090%,

10/7/2020

h,i

299,951

6,900,000

0.090%,

11/6/2020

h,i

6,898,361

Federal

Home

Loan

Mortgage

Corporation

Discount

Notes

300,000

0.135%,

9/17/2020

h,i

299,966

Thrivent

Core

Short-Term

Reserve

Fund

11,059,670

0.500%

110,707,294

Total

Short-Term

Investments

(cost

$163,281,120)

163,502,331

Total

Investments

(cost

$1,305,391,723)

102.1%

$1,530,859,806

Other

Assets

and

Liabilities,

Net

(2.1%)

(31,208,293)

Total

Net

Assets

100.0%

$1,499,651,513

a

All

or

a

portion

of

the

security

is

on

loan.

b

Non-income

producing

security.

c

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$302,700

or

0.0%

of

total

net

assets.

d

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

13

e

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

f

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

g

All

or

a

portion

of

the

security

was

earmarked

to

cover

written

options.

h

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

i

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Aggressive

Allocation

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Common

Stock

$

10,460,057

Total

lending

$10,460,057

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$10,738,358

Net

amounts

due

to

counterparty

$278,301

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

ETF

-

Exchange

Traded

Fund

FNMA

-

Federal

National

Mortgage

Association

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

14

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Aggressive

Allocation

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

24,529,089

24,070,181

458,908

–

Consumer

Discretionary

71,284,284

70,607,728

676,556

–

Consumer

Staples

21,311,527

20,786,677

524,850

–

Energy

14,138,418

13,828,639

309,779

–

Financials

83,541,939

80,566,011

2,975,928

–

Health

Care

103,027,872

101,730,845

1,297,027

–

Industrials

92,349,340

90,962,268

1,387,072

–

Information

Technology

143,243,063

141,256,223

1,986,840

–

Materials

24,766,313

23,156,252

1,610,060

1

Real

Estate

34,786,963

34,260,064

526,899

–

Utilities

10,379,774

10,309,587

70,187

–

Registered

Investment

Companies

Unaffiliated

12,072,508

12,072,508

–

–

Affiliated

487,325,078

487,325,078

–

–

Long-Term

Fixed

Income

Collateralized

Mortgage

Obligations

98,318

–

98,318

–

Mortgage-Backed

Securities

27,689,020

–

27,689,020

–

U.S.

Government

&

Agencies

38,205,237

–

38,205,237

–

Short-Term

Investments

52,795,037

–

52,795,037

–

Subtotal

Investments

in

Securities

$1,241,543,780

$1,110,932,061

$130,611,718

$1

Other

Investments  *

Total

Affiliated

Short-Term

Investments

110,707,294

Affiliated

Registered

Investment

Companies

167,870,374

Collateral

Held

for

Securities

Loaned

10,738,358

Subtotal

Other

Investments

$289,316,026

Total

Investments

at

Value

$1,530,859,806

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

26,487,236

26,487,236

–

–

Total

Asset

Derivatives

$26,487,236

$26,487,236

$–

$–

Liability

Derivatives

Futures

Contracts

19,767,567

19,767,567

–

–

Call

Options

Written

27,734

–

–

27,734

Total

Liability

Derivatives

$19,795,301

$19,767,567

$–

$27,734

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

15

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

Counterparty:

JPM

-

J.P.

Morgan

MSC

-

Morgan

Stanley

&

Company

The

following

table

presents

Aggressive

Allocation

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$52,295,084

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

10-Yr.

U.S.

Treasury

Note

70

September

2020

$

9,699,566

$

105,903

CBOT

2-Yr.

U.S.

Treasury

Note

32

September

2020

7,065,848

5,652

CBOT

U.S.

Long

Bond

8

September

2020

1,396,251

61,999

CME

E-mini

Russell

2000

Index

3

September

2020

218,478

3,192

CME

E-mini

S&P

500

Index

1,614

September

2020

246,625,817

16,738,633

CME

E-mini

S&P

Mid-Cap

400

Index

1

September

2020

176,483

9,567

CME

Euro

Foreign

Exchange

Currency

329

September

2020

47,452,562

1,072,882

CME

Ultra

Long

Term

U.S.

Treasury

Bond

28

September

2020

6,063,406

311,844

Eurex

Euro

STOXX

50

Index

1,248

September

2020

47,818,087

(

1,245,767)

ICE

mini

MSCI

EAFE

Index

288

September

2020

25,422,384

693,456

ICE

US

mini

MSCI

Emerging

Markets

Index

1,489

September

2020

72,125,277

7,484,108

Total

Futures

Long

Contracts

$

464,064,159

$

25,241,469

CBOT

5-Yr.

U.S.

Treasury

Note

(140)

September

2020

(

$

17,549,946)

(

$

107,554)

CME

E-mini

Russell

2000

Index

(1,349)

September

2020

(

92,742,549)

(

6,935,061)

CME

E-mini

S&P

Mid-Cap

400

Index

(901)

September

2020

(

156,231,142)

(

11,399,907)

Ultra

10-Yr.

U.S.

Treasury

Note

(28)

September

2020

(

4,379,722)

(

79,278)

Total

Futures

Short

Contracts

(

$

270,903,359)

($18,521,800)

Total

Futures

Contracts

$

193,160,800

$6,719,669

The

following

table

presents

Aggressive

Allocation

Fund's

options

contracts

held

as

of

July

31,

2020.

Option

_

Description

(Underlying

Security

Description)

Counter-

party

Number

of

Contracts

Exercise

Price

Expiration

Date

Notional

Principal

Amount

Value

Unrealized

Appreciation/

(Depreciation)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

JPM

(3)

$

104.20

August

2020

(2,626,270)

(

$

21,875)

(

$

15,527)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

MSC

(3)

102.64

September

2020

(2,585,255)

(

27,832)

(

12,207)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

Total

Options

Written

Contracts

($49,707)

($27,734)

(*)  Security

is

valued

using

significant

unobservable

inputs.

Market

quotations

or

prices

were

not

readily

available

or

were

determined

to

be

unreliable.

Value

was

determined

in

good

faith

pursuant

to

procedures

adopted

by

the

Board.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

16

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Aggressive

Allocation

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Equity*

$—

$26,401

$–

$27,978

2,767

1.9%

Core

International

Equity

56,200

2,191

–

51,748

6,031

3.5

Core

Low

Volatility

Equity

58,411

32,016

–

88,145

7,476

5.9

Global

Stock,

Class

S

38,067

4,666

–

39,214

1,627

2.6

High

Yield,

Class

S

6,675

265

–

6,690

1,470

0.5

Income,

Class

S

4,548

126

–

4,986

489

0.3

International

Allocation,

Class

S

127,470

3,291

–

118,427

12,775

7.9

Large

Cap

Growth,

Class

S

100,939

4,931

–

132,578

8,260

8.8

Large

Cap

Value,

Class

S

71,503

1,381

–

66,383

3,208

4.4

Limited

Maturity

Bond,

Class

S

7,192

125

–

7,411

584

0.5

Mid

Cap

Stock,

Class

S

78,273

2,242

–

79,872

2,969

5.3

Small

Cap

Stock,

Class

S

33,530

2,879

–

31,764

1,493

2.1

Total

Affiliated

Registered

Investment

Companies

582,808

655,196

43.7

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

165,811

221,561

276,829

110,707

11,060

7.4

Total

Affiliated

Short-Term

Investments

165,811

110,707

7.4

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

8,850

150,108

148,220

10,738

10,738

0.7

Total

Collateral

Held

for

Securities

Loaned

8,850

10,738

0.7

Total

Value

$757,469

$776,641

*  

Non-income

producing

security.

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Equity*

$–

$1,577

$–

$–

Core

International

Equity

–

(6,643)

–

2,192

Core

Low

Volatility

Equity

Fund

–

(2,282)

1,835

1,181

Global

Stock,

Class

S

–

(3,519)

4,016

649

High

Yield,

Class

S

–

(250)

–

265

Income,

Class

S

–

312

21

105

International

Allocation,

Class

S

–

(12,334)

–

3,291

Large

Cap

Growth,

Class

S

–

26,708

4,931

–

Large

Cap

Value,

Class

S

–

(6,501)

–

1,381

Limited

Maturity

Bond,

Class

S

–

94

–

125

Mid

Cap

Stock,

Class

S

–

(643)

1,933

309

Small

Cap

Stock,

Class

S

–

(4,645)

2,720

159

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

(56)

220

1

1,604

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$11,261

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

69

Total

Affiliated

Income

from

Securities

Loaned,

Net

$69

Total

$(56)

$(7,906)

$15,457

*  

Non-income

producing

security.

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

17

Principal

Amount

Bank

Loans

(

15.2%

)

a

Value

Basic

Materials

(0.7%)

Ball

Metalpack

Finco,

LLC,

Term

Loan

$

176,400

4.863%, 

(LIBOR

3M

+

4.500%),

7/31/2025

b

$

164,934

Big

River

Steel,

LLC,

Term

Loan

335,512

6.000%, 

(LIBOR

3M

+

5.000%),

8/23/2023

b

318,737

Hexion,

Inc.,

Term

Loan

317,773

3.800%, 

(LIBOR

3M

+

3.500%),

7/1/2026

b

310,623

Innophos

Holdings,

Inc.,

Term

Loan

314,213

3.911%, 

(LIBOR

1M

+

3.750%),

2/7/2027

b,c

309,892

Momentive

Performance

Materials

USA,

LLC,

Term

Loan

297,000

3.420%, 

(LIBOR

1M

+

3.250%),

5/15/2024

b

278,191

Nouryon

USA,

LLC,

Term

Loan

532,234

3.178%, 

(LIBOR

1M

+

3.000%),

10/1/2025

b

513,904

Pixelle

Specialty

Solutions,

LLC,

Term

Loan

622,243

7.500%, 

(LIBOR

1M

+

6.500%),

10/31/2024

b

598,131

Total

2,494,412

Capital

Goods

(1.6%)

Advanced

Disposal

Services,

Inc.,

Term

Loan

296,611

3.000%, 

(LIBOR

1W

+

2.250%),

11/10/2023

b

294,573

Flex

Acquisition

Company,

Inc.

Term

Loan

728,996

3.546%, 

(LIBOR

3M

+

3.250%),

6/29/2025

b

692,204

GFL

Environmental,

Inc.,

Term

Loan

821,139

4.000%, 

(LIBOR

3M

+

3.000%),

5/31/2025

b

816,237

Mauser

Packaging

Solutions

Holding

Company,

Term

Loan

455,483

3.523%, 

(LIBOR

3M

+

3.250%),

4/3/2024

b

424,396

Natgasoline,

LLC,

Term

Loan

384,150

3.813%, 

(LIBOR

3M

+

3.500%),

11/14/2025

b,c

363,022

Navistar,

Inc.,

Term

Loan

633,750

3.690%, 

(LIBOR

1M

+

3.500%),

11/6/2024

b

612,095

Reynolds

Group

Holdings,

Inc.,

Term

Loan

298,964

2.911%, 

(LIBOR

1M

+

2.750%),

2/5/2023

b

292,560

TransDigm,

Inc.,

Term

Loan

1,114,400

2.411%, 

(LIBOR

1M

+

2.250%),

12/9/2025

b

1,041,763

Vertiv

Group

Corporation,

Term

Loan

1,057,350

3.162%, 

(LIBOR

1M

+

3.000%),

3/2/2027

b

1,032,238

Total

5,569,088

Principal

Amount

Bank

Loans

(15.2%)

a

Value

Communications

Services

(3.9%)

Altice

France

SA,

Term

Loan

$

275,738

2.911%, 

(LIBOR

1M

+

2.750%),

7/31/2025

b

$

263,536

CenturyLink,

Inc.,

Term

Loan

1,126,900

2.411%, 

(LIBOR

1M

+

2.250%),

3/15/2027

b

1,083,548

CommScope,

Inc.,

Term

Loan

823,775

3.411%, 

(LIBOR

1M

+

3.250%),

4/4/2026

b

805,240

Coral-US

Co-Borrower,

LLC,

Term

Loan

1,310,000

2.411%, 

(LIBOR

1M

+

2.250%),

1/31/2028

b

1,257,600

CSC

Holdings,

LLC,

Term

Loan

507,938

2.425%, 

(LIBOR

1M

+

2.250%),

7/17/2025

b

489,845

1,203,950

2.675%, 

(LIBOR

1M

+

2.500%),

4/15/2027

b

1,162,317

Diamond

Sports

Group,

LLC,

Term

Loan

878,712

3.420%, 

(LIBOR

1M

+

3.250%),

8/24/2026

b

699,674

Entercom

Media

Corporation,

Term

Loan

472,875

2.673%, 

(LIBOR

1M

+

2.500%),

11/17/2024

b

446,276

Gray

Television,

Inc.,

Term

Loan

285,000

2.421%, 

(LIBOR

1M

+

2.250%),

2/7/2024

b

276,687

HCP

Acquisition,

LLC,

Term

Loan

628,945

4.000%, 

(LIBOR

1M

+

3.000%),

5/16/2024

b

614,479

iHeartCommunications,

Inc.,

Term

Loan

364,085

3.161%, 

(LIBOR

1M

+

3.000%),

5/1/2026

b

340,015

Mediacom

Illinois,

LLC,

Term

Loan

191,662

1.870%, 

(LIBOR

1W

+

1.750%),

2/15/2024

b,c

190,224

NEP

Group,

Inc.,

Term

Loan

640,250

3.411%, 

(LIBOR

1M

+

3.250%),

10/20/2025

b

527,207

Nexstar

Broadcasting,

Inc.,

Term

Loan

780,000

2.921%, 

(LIBOR

1M

+

2.750%),

9/19/2026

b,d,e

758,066

Nielsen

Finance,

LLC,

Term

Loan

249,375

4.750%, 

(LIBOR

1M

+

3.750%),

6/4/2025

b

249,375

SBA

Senior

Finance

II,

LLC,

Term

Loan

431,696

1.920%, 

(LIBOR

1M

+

1.750%),

4/11/2025

b

418,305

Terrier

Media

Buyer,

Inc.,

Term

Loan

388,050

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

377,724

195,000

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

188,542

T-Mobile

USA,

Inc.,

Term

Loan

785,000

3.161%, 

(LIBOR

1M

+

3.000%),

4/1/2027

b

787,520

TNS,

Inc.,

Term

Loan

234,723

4.170%, 

(LIBOR

1M

+

4.000%),

8/14/2022

b

227,682

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

18

Principal

Amount

Bank

Loans

(15.2%)

a

Value

Communications

Services

(3.9%)

-

continued

Virgin

Media

Bristol,

LLC,

Term

Loan

$

660,000

2.675%, 

(LIBOR

1M

+

2.500%),

1/31/2028

b

$

639,580

WideOpenWest

Finance,

LLC,

Term

Loan

785,730

4.250%, 

(LIBOR

1M

+

3.250%),

8/19/2023

b

772,373

Windstream

Services,

LLC,

Term

Loan

397,055

0.000%, 

(PRIME

+

5.000%),

3/30/2021

b,f

237,332

Xplornet

Communications,

Inc.,

Term

Loan

180,000

4.911%, 

(LIBOR

1M

+

4.750%),

6/11/2027

b

175,106

Ziggo

Financing

Partnership,

Term

Loan

695,000

2.675%, 

(LIBOR

1M

+

2.500%),

4/30/2028

b

666,581

Total

13,654,834

Consumer

Cyclical

(2.4%)

1011778

B.C.,

LLC,

Term

Loan

1,328,325

1.911%, 

(LIBOR

1M

+

1.750%),

11/19/2026

b

1,273,319

Boyd

Gaming

Corporation,

Term

Loan

161,098

2.361%, 

(LIBOR

1W

+

2.250%),

9/15/2023

b

155,482

Cengage

Learning,

Inc.,

Term

Loan

629,334

5.250%, 

(LIBOR

3M

+

4.250%),

6/7/2023

b

509,239

Four

Seasons

Hotels,

Ltd.,

Term

Loan

472,752

2.161%, 

(LIBOR

1M

+

2.000%),

11/30/2023

b

455,109

Golden

Entertainment,

Inc.,

Term

Loan

839,550

3.750%, 

(LIBOR

1M

+

3.000%),

10/20/2024

b

762,941

Golden

Nugget,

LLC,

Term

Loan

1,059,058

3.250%, 

(LIBOR

1M

+

2.500%),

10/4/2023

b

883,498

IAA,

Inc.,

Term

Loan

198,337

2.438%, 

(LIBOR

1M

+

2.250%),

6/28/2026

b,c

194,371

LCPR

Loan

Financing,

LLC,

Term

Loan

1,010,000

5.175%, 

(LIBOR

1M

+

5.000%),

10/15/2026

b

1,012,525

Men's

Warehouse,

Inc.,

Term

Loan

382,000

4.250%, 

(LIBOR

1M

+

3.250%),

4/9/2025

b

74,967

Mohegan

Gaming

and

Entertainment,

Term

Loan

375,130

5.375%, 

(LIBOR

3M

+

4.375%),

10/13/2023

b

311,894

Scientific

Games

International,

Inc.,

Term

Loan

1,634,789

3.473%, 

(LIBOR

1M

+

2.750%),

8/14/2024

b

1,485,320

Principal

Amount

Bank

Loans

(15.2%)

a

Value

Consumer

Cyclical

(2.4%)

-

continued

Staples,

Inc.,

Term

Loan

$

176,866

5.187%, 

(LIBOR

3M

+

4.500%),

9/12/2024

b,d,e

$

157,374

698,074

5.687%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b,d,e

598,990

Stars

Group

Holdings

BV,

Term

Loan

448,452

3.808%, 

(LIBOR

3M

+

3.500%),

7/10/2025

b

448,142

Total

8,323,171

Consumer

Non-Cyclical

(2.5%)

Bausch

Health

Americas,

Inc.,

Term

Loan

785,394

3.176%, 

(LIBOR

1M

+

3.000%),

6/1/2025

b

771,775

Bellring

Brands,

LLC,

Term

Loan

187,595

6.000%, 

(LIBOR

1M

+

5.000%),

10/21/2024

b,d,e

188,064

Change

Healthcare

Holdings,

LLC,

Term

Loan

380,000

3.500%, 

(LIBOR

1M

+

2.500%),

3/1/2024

b

371,237

Chobani,

LLC,

Term

Loan

483,739

4.500%, 

(LIBOR

1M

+

3.500%),

10/10/2023

b

478,630

Elanco

Animal

Health,

Inc.,

Term

Loan

345,000

0.000%, 

(LIBOR

1M

+

1.750%),

2/4/2027

b,d,e

335,944

Endo

International

plc,

Term

Loan

329,187

5.000%, 

(LIBOR

3M

+

4.250%),

4/27/2024

b

314,262

Energizer

Holdings,

Inc.,

Term

Loan

178,695

2.438%, 

(LIBOR

1M

+

2.250%),

12/17/2025

b

176,908

Global

Medical

Response,

Inc.,

Term

Loan

1,482,000

4.250%, 

(LIBOR

3M

+

3.250%),

4/28/2022

b

1,462,245

Grifols

Worldwide

Operations

USA,

Inc.,

Term

Loan

467,650

2.111%, 

(LIBOR

1W

+

2.000%),

11/15/2027

b

457,128

IQVIA,

Inc.,

Term

Loan

114,705

1.911%, 

(LIBOR

1M

+

1.750%),

1/1/2025

b

112,354

JBS

USA

LUX

SA,

Term

Loan

779,083

3.072%, 

(LIBOR

3M

+

2.000%),

5/1/2026

b

750,927

Libbey

Glass,

Inc.,

Term

Loan

240,572

0.000%,PIK

3.750%,

(LIBOR

1M

+

5.000%),

4/9/2021

b,f,g

39,944

MPH

Acquisition

Holdings,

LLC,

Term

Loan

1,300,000

3.750%, 

(LIBOR

3M

+

2.750%),

6/7/2023

b

1,278,602

Ortho-Clinical

Diagnostics

SA,

Term

Loan

1,194,897

3.416%, 

(LIBOR

1M

+

3.250%),

6/30/2025

b

1,160,543

Plantronics,

Inc.,

Term

Loan

374,201

2.780%, 

(LIBOR

3M

+

2.500%),

7/2/2025

b

343,277

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

19

Principal

Amount

Bank

Loans

(15.2%)

a

Value

Consumer

Non-Cyclical

(2.5%)

-

continued

R.R.

Donnelley

&

Sons

Company,

Term

Loan

$

89,095

5.161%, 

(LIBOR

1M

+

5.000%),

1/15/2024

b

$

82,859

Sotera

Health

Holdings,

LLC,

Term

Loan

413,962

5.500%, 

(LIBOR

1M

+

4.500%),

12/13/2026

b

412,410

US

Foods,

Inc.,

Term

Loan

89,766

1.911%, 

(LIBOR

1M

+

1.750%),

6/27/2023

b

84,941

Total

8,822,050

Energy

(0.8%)

BCP

Raptor

II,

LLC,

Term

Loan

356,400

4.911%, 

(LIBOR

1M

+

4.750%),

11/3/2025

b

223,819

Buckeye

Partners,

LP,

Term

Loan

134,663

2.921%, 

(LIBOR

1M

+

2.750%),

11/1/2026

b

131,422

Calpine

Corporation,

Term

Loan

481,074

2.420%, 

(LIBOR

1M

+

2.250%),

1/15/2024

b

470,351

CONSOL

Energy,

Inc.,

Term

Loan

385,125

4.670%, 

(LIBOR

1M

+

4.500%),

9/28/2024

b

311,632

Fieldwood

Energy,

LLC,

Term

Loan

520,000

6.250%, 

(LIBOR

3M

+

5.250%),

4/11/2022

b

118,732

Illuminate

Buyer,

LLC,

Term

Loan

350,000

4.308%, 

(LIBOR

3M

+

4.000%),

6/30/2027

b

345,800

Radiate

Holdco,

LLC,

Term

Loan

1,277,017

3.750%, 

(LIBOR

1M

+

3.000%),

2/1/2024

b

1,251,119

Total

2,852,875

Financials

(1.3%)

Avolon

TLB

Borrower

1

US,

LLC,

Term

Loan

350,745

2.500%, 

(LIBOR

1M

+

1.750%),

1/15/2025

b

333,822

Delos

Finance

SARL,

Term

Loan

105,000

2.058%, 

(LIBOR

3M

+

1.750%),

10/6/2023

b

101,246

GGP

Nimbus,

LLC,

Term

Loan

589,924

2.661%, 

(LIBOR

1M

+

2.500%),

8/24/2025

b

479,313

INEOS

U.S.

Finance,

LLC,

Term

Loan

89,770

2.214%, 

(LIBOR

2M

+

2.000%),

3/31/2024

b

86,291

Level

3

Financing,

Inc.,

Term

Loan

660,000

1.911%, 

(LIBOR

1M

+

1.750%),

3/1/2027

b

638,689

MoneyGram

International,

Inc.,

Term

Loan

362,040

7.000%, 

(LIBOR

3M

+

6.000%),

6/30/2023

b

342,128

NCR

Corporation,

Term

Loan

550,837

2.670%, 

(LIBOR

1M

+

2.500%),

8/28/2026

b

532,247

Principal

Amount

Bank

Loans

(15.2%)

a

Value

Financials

(1.3%)

-

continued

Northriver

Midstream

Finance,

LP,

Term

Loan

$

535,909

3.552%, 

(LIBOR

3M

+

3.250%),

10/1/2025

b

$

511,461

Tronox

Finance,

LLC,

Term

Loan

1,148,391

2.972%, 

(LIBOR

3M

+

2.750%),

9/22/2024

b

1,116,098

Vericast

Corporation,

Term

Loan

650,666

5.750%, 

(LIBOR

3M

+

4.750%),

11/3/2023

b

452,076

Total

4,593,371

Technology

(1.4%)

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

943,551

3.761%, 

(LIBOR

2M

+

3.500%),

8/21/2026

b

837,401

Prime

Security

Services

Borrower,

LLC,

Term

Loan

1,508,600

4.250%, 

(LIBOR

1M

+

3.250%),

9/23/2026

b

1,480,857

Rackspace

Hosting,

Inc.,

Term

Loan

1,346,554

4.000%, 

(LIBOR

2M

+

3.000%),

11/3/2023

b

1,316,432

SS&C

Technologies,

Inc.,

Term

Loan

556,265

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

538,186

400,643

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

387,622

Zayo

Group

Holdings,

Inc.,

Term

Loan

443,887

3.161%, 

(LIBOR

1M

+

3.000%),

3/9/2027

b

430,571

Total

4,991,069

Transportation

(0.1%)

United

Airlines,

Inc.,

Term

Loan

233,792

1.911%, 

(LIBOR

1M

+

1.750%),

4/1/2024

b

209,328

Total

209,328

Utilities

(0.5%)

Advanced

Drainage

Systems,

Inc.,

Term

Loan

89,756

2.438%, 

(LIBOR

1M

+

2.250%),

9/24/2026

b

88,522

Core

and

Main,

LP,

Term

Loan

393,863

3.750%, 

(LIBOR

3M

+

2.750%),

8/1/2024

b

382,787

EnergySolutions,

LLC,

Term

Loan

294,000

4.750%, 

(LIBOR

3M

+

3.750%),

5/11/2025

b

270,724

Pacific

Gas

&

Electric

Company,

Term

Loan

785,000

5.500%, 

(LIBOR

3M

+

4.500%),

1/1/2022

b

775,431

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

20

Principal

Amount

Bank

Loans

(15.2%)

a

Value

Utilities

(0.5%)

-

continued

Talen

Energy

Supply,

LLC,

Term

Loan

$

222,300

3.911%, 

(LIBOR

1M

+

3.750%),

7/8/2026

b

$

216,743

Total

1,734,207

Total

Bank

Loans

(cost

$56,738,365)

53,244,405

Shares

Common

Stock

(

47.0%

)

Value

Communications

Services

(3.1%)

3,511

Activision

Blizzard,

Inc.

290,114

1,305

Alphabet,

Inc.,

Class

A

h

1,941,775

625

Alphabet,

Inc.,

Class

C

h

926,850

2,247

AT&T,

Inc.

66,466

62,492

Auto

Trader

Group

plc

i

436,540

6,987

Carsales.com,

Ltd.

91,342

21

Charter

Communications,

Inc.

h

12,180

71

Cogeco

Communications,

Inc.

5,412

21,340

Comcast

Corporation

913,352

3,740

Deutsche

Telekom

AG

62,439

8,439

Discovery,

Inc.,

Class

A

h,j

178,063

11,109

DISH

Network

Corporation

h

356,710

4,066

Facebook,

Inc.

h

1,031,422

33,000

HKT

Trust

and

HKT,

Ltd.

48,625

94

IAC/InterActiveCorp

h

12,447

1,080

Ipsos

SA

28,665

3,100

KDDI

Corporation

98,572

4,889

Live

Nation

Entertainment,

Inc.

h

228,854

35,178

Mediaset

Espana

Comunicacion

SA

h

115,067

300

NEXON

Company,

Ltd.

7,708

300

Nintendo

Company,

Ltd.

131,943

1,400

Nippon

Telegraph

&

Telephone

Corporation

32,496

4,900

NTT

DOCOMO,

Inc.

134,902

15,999

QuinStreet,

Inc.

h

186,788

3,113

Rightmove

plc

22,466

17,254

Seven

West

Media,

Ltd.

h

1,220

17,000

SoftBank

Corporation

227,565

3,600

SoftBank

Group

Corporation

227,063

10,900

TV

Asahi

Holdings

Corporation

149,058

10,329

Twitter,

Inc.

h

375,976

8,388

Uber

Technologies,

Inc.

h

253,821

21,829

Verizon

Communications,

Inc.

1,254,731

3,244

Walt

Disney

Company

379,353

2,500

Wolters

Kluwer

NV

196,895

6,719

Zillow

Group,

Inc.

h

457,497

Total

10,884,377

Consumer

Discretionary

(5.1%)

100

ABC-MART,

Inc.

5,269

1,397

Amazon.com,

Inc.

h

4,421,058

700

AOKI

Holdings,

Inc.

3,602

9,473

Aptiv

plc

736,526

1,400

Autobacs

Seven

Company,

Ltd.

16,312

1,279

Autogrill

SPA

h

6,117

216

AutoZone,

Inc.

h

260,803

19,656

B&M

European

Value

Retail

SA

118,178

2,280

Berkeley

Group

Holdings

plc

132,288

237

Booking

Holdings,

Inc.

h

393,925

900

Bridgestone

Corporation

26,510

986

Bright

Horizons

Family

Solutions,

Inc.

h

105,739

754

Bunzl

plc

21,599

Shares

Common

Stock

(47.0%)

Value

Consumer

Discretionary

(5.1%)

-

continued

1,478

Burlington

Stores,

Inc.

h

$

277,864

6,260

Callaway

Golf

Company

119,253

6,227

Carnival

Corporation

j

86,431

5,364

Cedar

Fair,

LP

127,878

1,066

Century

Casinos,

Inc.

h

4,296

162

Chipotle

Mexican

Grill,

Inc.

h

187,136

1,800

Chiyoda

Company,

Ltd.

17,202

174

Cie

Generale

des

Etablissements

Michelin

18,021

18,000

Citizen

Watch

Company,

Ltd.

49,062

1,077

Collins

Foods,

Ltd.

7,281

8,087

Cooper-Standard

Holdings,

Inc.

h

86,612

4,578

Crocs,

Inc.

h

164,533

5,362

D.R.

Horton,

Inc.

354,750

1,150

Darden

Restaurants,

Inc.

87,285

240

Deckers

Outdoor

Corporation

h

50,220

8,200

Denso

Corporation

303,339

2,100

Dick's

Sporting

Goods,

Inc.

95,802

5,838

Dollarama,

Inc.

213,480

602

Dometic

Group

AB

i

5,877

100

Doutor

Nichires

Holdings

Company,

Ltd.

1,331

909

Emerald

Holding,

Inc.

2,472

4,379

Etsy,

Inc.

h

518,386

730

Europris

ASA

i

3,589

100

Exedy

Corporation

1,235

100

Fast

Retailing

Company,

Ltd.

53,180

694

Five

Below,

Inc.

h

75,583

32,000

Galaxy

Entertainment

Group,

Ltd.

218,232

4,259

GVC

Holdings

plc

36,860

149

Hermes

International

120,800

4,908

Home

Depot,

Inc.

1,303,025

2,938

Husqvarna

AB

28,117

5,624

Industria

de

Diseno

Textil

SA

149,025

189

InterContinental

Hotels

Group

plc

8,706

4,891

Leggett

&

Platt,

Inc.

196,080

6,180

Lowe's

Companies,

Inc.

920,264

1,896

Lululemon

Athletica,

Inc.

h

617,319

41

LVMH

Moet

Hennessy

Louis

Vuitton

SE

17,829

1,764

McDonald's

Corporation

342,710

2,300

Melia

Hotels

International

SA

h

8,515

15

Mercadolibre,

Inc.

h

16,869

1,281

Mohawk

Industries,

Inc.

h

102,288

23,507

Moneysupermarket.com

Group

plc

90,056

5,030

Movado

Group,

Inc.

48,489

188

Netflix,

Inc.

h

91,909

6,600

NHK

Spring

Company,

Ltd.

37,142

600

Nihon

Unisys,

Ltd.

18,157

2,992

NIKE,

Inc.

292,049

3,900

Nissan

Motor

Company,

Ltd.

13,340

166

NVR,

Inc.

h

652,405

1,100

Onward

Holdings

Company,

Ltd.

2,701

300

Oriental

Land

Company,

Ltd.

36,193

827

Pandox

AB

10,440

1,425

Planet

Fitness,

Inc.

h

74,385

2,638

Playa

Hotels

and

Resorts

NV

h

9,576

1,200

PLENUS

Company,

Ltd.

18,333

14,224

Redrow

plc

79,413

1,590

Restaurant

Brands

International,

Inc.

89,867

1,955

RH

h,j

561,926

2,200

Rinnai

Corporation

180,320

1,630

Royal

Caribbean

Cruises,

Ltd.

79,397

3,300

Sangetsu

Company,

Ltd.

45,138

3,859

Scandic

Hotels

Group

AB

i

13,336

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

21

Shares

Common

Stock

(47.0%)

Value

Consumer

Discretionary

(5.1%)

-

continued

1,200

SHIMAMURA

Company,

Ltd.

$

83,446

1,838

Sleep

Number

Corporation

h

85,467

2,100

Sony

Corporation

163,160

5,312

Sony

Corporation

ADR

414,123

4,752

Stoneridge,

Inc.

h

98,461

30,700

Sumitomo

Electric

Industries,

Ltd.

342,999

800

Sumitomo

Forestry

Company,

Ltd.

8,944

15,000

Sumitomo

Rubber

Industries,

Ltd.

124,791

1,863

Super

Retail

Group,

Ltd.

11,775

500

Takara

Standard

Company,

Ltd.

6,751

55,510

Taylor

Wimpey

plc

85,626

4,379

Texas

Roadhouse,

Inc.

246,056

498

Thule

Group

AB

i

14,814

4,754

TJX

Companies,

Inc.

247,160

2,300

Toyoda

Gosei

Company,

Ltd.

45,100

700

Toyota

Motor

Corporation

41,555

9,872

William

Hill

plc

13,440

648

Yum!

Brands,

Inc.

59,000

1,400

Z

Holdings

Corporation

7,445

4,965

Zumiez,

Inc.

h

114,691

Total

17,906,039

Consumer

Staples

(2.2%)

1,900

Arcs

Company,

Ltd.

44,084

2,624

BJ's

Wholesale

Club

Holdings,

Inc.

h

105,091

525

British

American

Tobacco

plc

17,350

4,359

Bunge,

Ltd.

189,355

2,557

Carlsberg

AS

377,642

446

Casey's

General

Stores,

Inc.

70,999

11,553

Coca-Cola

Company

545,764

5,469

Colgate-Palmolive

Company

422,207

852

Costco

Wholesale

Corporation

277,352

20,532

Cott

Corporation

j

291,760

1,887

Davide

Campari-Milano

NV

19,050

546

Elior

Participations

SCA

i

3,024

2,623

ForFarmers

BV

16,839

70

George

Weston,

Ltd.

5,287

719

Glanbia

plc

8,729

14,708

Hain

Celestial

Group,

Inc.

h

499,778

216

Heineken

NV

20,925

4,000

Japan

Tobacco,

Inc.

68,370

1,391

John

B.

Sanfilippo

&

Son,

Inc.

122,645

700

Kao

Corporation

50,781

1,700

Kewpie

Corporation

30,259

1,697

Kimberly-Clark

Corporation

258,012

888

Lamb

Weston

Holdings,

Inc.

53,351

16

Lindt

&

Spruengli

AG

123,869

430

L'Oreal

SA

144,320

600

Ministop

Company,

Ltd.

8,216

7,192

Nestle

SA

855,285

1,643

Orkla

ASA

16,160

3,294

PepsiCo,

Inc.

453,452

2,177

Philip

Morris

International,

Inc.

167,215

2,646

Procter

&

Gamble

Company

346,944

130

Royal

Unibrew

AS

13,152

1,700

Seven

&

I

Holdings

Company,

Ltd.

51,373

600

Shiseido

Company,

Ltd.

33,430

3,200

Sugi

Holdings

Company,

Ltd.

231,218

4,700

Sundrug

Company,

Ltd.

159,945

6,326

Turning

Point

Brands,

Inc.

207,999

300

Unicharm

Corporation

13,570

1,748

Unilever

NV

103,290

Shares

Common

Stock

(47.0%)

Value

Consumer

Staples

(2.2%)

-

continued

9,433

Wal-Mart

Stores,

Inc.

$

1,220,630

Total

7,648,722

Energy

(1.5%)

13,389

BP

plc

ADR

295,094

652

Canadian

Natural

Resources,

Ltd.

11,502

14,956

CGG

SA

h

12,802

466

Cheniere

Energy,

Inc.

h

23,058

5,452

Chevron

Corporation

457,641

1,829

Cimarex

Energy

Company

44,737

3,624

ConocoPhillips

135,501

2,415

Diamondback

Energy,

Inc.

96,262

3,350

Enbridge,

Inc.

107,200

28,600

Eneos

Holdings,

Inc.

100,289

16,823

Eni

SPA

149,857

16,665

Enterprise

Products

Partners,

LP

293,304

2,632

EOG

Resources,

Inc.

123,309

2,086

EQT

Corporation

30,289

5,685

Exxon

Mobil

Corporation

239,225

303

Gaztransport

Et

Technigaz

SA

28,173

9,113

Halliburton

Company

130,589

8,975

Helmerich

&

Payne,

Inc.

160,024

6,884

John

Wood

Group

plc

17,112

377

Lundin

Energy

AB

8,794

23,155

Marathon

Oil

Corporation

127,121

8,094

Marathon

Petroleum

Corporation

309,191

7,470

Nine

Energy

Service,

Inc.

h

13,894

1,439

OMV

AG

h

45,446

442

ONEOK,

Inc.

12,336

1,389

PDC

Energy,

Inc.

h

19,807

3,451

Pioneer

Natural

Resources

Company

334,471

15,169

Royal

Dutch

Shell

plc,

Class

A

221,704

24,546

Royal

Dutch

Shell

plc,

Class

B

344,540

2,901

Schlumberger,

Ltd.

52,624

5,888

SEACOR

Holdings,

Inc.

h

171,223

863

Talos

Energy,

Inc.

h

5,877

2,427

TC

Energy

Corporation

110,619

2,874

Tenaris

SA

ADR

33,626

9,135

Total

SE

345,703

21,888

Tullow

Oil

plc

7,319

3,040

Valero

Energy

Corporation

170,939

1,494

Vermilion

Energy

Inc

6,090

475

Washington

H.

Soul

Pattinson

and

Company,

Ltd.

6,627

1,764

Whitecap

Resources,

Inc.

2,910

246

Woodside

Petroleum,

Ltd.

3,500

55,678

WPX

Energy,

Inc.

h

332,398

Total

5,142,727

Financials

(6.7%)

13,274

AB

Industrivarden

h

327,436

7,383

Aflac,

Inc.

262,613

6,200

AIA

Group,

Ltd.

55,905

6,578

Air

Lease

Corporation

172,475

3,675

Allianz

SE

762,470

15,832

Ally

Financial,

Inc.

318,223

3,446

American

Express

Company

321,581

2,429

American

Financial

Group,

Inc.

147,610

5,542

American

International

Group,

Inc.

178,120

781

Aon

plc

160,277

200

Aozora

Bank,

Ltd.

3,199

682

Ares

Capital

Corporation

9,616

757

Arthur

J.

Gallagher

&

Company

81,370

22,312

Assured

Guaranty,

Ltd.

487,071

2,693

Baloise

Holding

AG

410,884

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

22

Shares

Common

Stock

(47.0%)

Value

Financials

(6.7%)

-

continued

26,208

Bank

Leumi

Le-Israel

BM

$

132,858

44,189

Bank

of

America

Corporation

1,099,422

276

Bank

of

Marin

Bancorp

8,669

1,092

Bank

of

Montreal

59,742

4,749

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

123,616

2,520

Berkshire

Hathaway,

Inc.

h

493,366

550

Berkshire

Hills

Bancorp,

Inc.

5,478

805

BlackRock,

Inc.

462,883

2,364

Blackstone

Mortgage

Trust,

Inc.

56,901

12,320

Bridgewater

Bancshares,

Inc.

h

114,453

7,775

Capital

One

Financial

Corporation

496,045

5,829

Charles

Schwab

Corporation

193,231

3,065

Chubb,

Ltd.

389,991

29,015

CI

Financial

Corporation

398,795

18,710

Citigroup,

Inc.

935,687

566

CME

Group,

Inc.

94,058

1,054

Cohen

&

Steers,

Inc.

63,430

4,374

Columbia

Banking

System,

Inc.

126,540

2,646

Comerica,

Inc.

101,924

6,412

Commonwealth

Bank

of

Australia

326,209

1,011

Community

Trust

Bancorp,

Inc.

30,947

21,800

DBS

Group

Holdings,

Ltd.

314,915

1,064

Deutsche

Boerse

AG

193,589

6,807

Deutsche

Pfandbriefbank

AG

h,i

43,123

21,630

DnB

ASA

h

332,223

1,831

Ellington

Residential

Mortgage

REIT

20,233

5,061

Euronext

NV

i

584,637

2,590

Evercore,

Inc.

143,227

16,852

Everi

Holdings,

Inc.

h

95,719

282

FBL

Financial

Group,

Inc.

9,808

333

Financial

Institutions,

Inc.

4,918

2,085

First

Busey

Corporation

35,654

7,095

First

Interstate

BancSystem,

Inc.

206,535

213

First

Mid-Illinois

Bancshares,

Inc.

5,199

42,610

FlexiGroup,

Ltd.

38,000

2,600

FS

KKR

Capital

Corporation

41,340

2,800

FS

KKR

Capital

Corporation

II

h

39,900

2,267

Glacier

Bancorp,

Inc.

80,048

714

Goldman

Sachs

Group,

Inc.

141,343

3,400

Golub

Capital

BDC,

Inc.

40,222

1,192

Great

Southern

Bancorp,

Inc.

42,995

81

Groupe

Bruxelles

Lambert

SA

7,026

1,059

Hamilton

Lane,

Inc.

76,502

270

Hancock

Whitney

Corporation

5,146

11,015

Hartford

Financial

Services

Group,

Inc.

466,155

6,485

Heartland

Financial

USA,

Inc.

202,591

15,283

Heritage

Commerce

Corporation

103,619

862

Hometrust

Bancshares,

Inc.

12,430

1,062

Houlihan

Lokey,

Inc.

58,198

16,134

HSBC

Holdings

plc

72,649

200

IGM

Financial,

Inc.

4,917

389

Independent

Bank

Corporation

5,432

4,731

Interactive

Brokers

Group,

Inc.

234,658

85,124

Israel

Discount

Bank,

Ltd.

261,723

5,090

J.P.

Morgan

Chase

&

Company

491,898

600

Japan

Exchange

Group,

Inc.

14,248

6,000

Japan

Post

Bank

Company,

Ltd.

44,762

1,000

Japan

Post

Holdings

Company,

Ltd.

6,830

3,440

Julius

Baer

Group,

Ltd.

151,016

4,186

Kemper

Corporation

328,685

39,946

KeyCorp

479,751

657

L

E

Lundbergforetagen

AB

h

30,862

582

Lakeland

Bancorp,

Inc.

5,925

Shares

Common

Stock

(47.0%)

Value

Financials

(6.7%)

-

continued

5,475

Laurentian

Bank

of

Canada

j

$

108,523

1,569

M&T

Bank

Corporation

166,236

4,959

Manulife

Financial

Corporation

66,456

411

Markel

Corporation

h

429,306

797

Marsh

&

McLennan

Companies,

Inc.

92,930

6,732

Meridian

Bancorp,

Inc.

76,778

6,424

MetLife,

Inc.

243,148

2,618

MidWestOne

Financial

Group,

Inc.

47,333

12,200

Mitsubishi

UFJ

Financial

Group,

Inc.

45,717

2,006

Mizrahi

Tefahot

Bank,

Ltd.

42,046

10,274

Morgan

Stanley

502,193

800

MS

and

AD

Insurance

Group

Holdings,

Inc.

20,102

3,349

National

Bank

of

Canada

158,118

1,794

Northern

Trust

Corporation

140,560

1,004

Onex

Corporation

44,629

200

ORIX

Corporation

2,163

1,981

Paragon

Banking

Group

plc

8,121

1,512

Pargesa

Holding

SA

119,966

239

Peapack-Gladstone

Financial

Corporation

3,891

3,758

Popular,

Inc.

139,459

5,112

Power

Corporation

of

Canada

90,718

2,094

Primerica,

Inc.

250,568

3,322

Prosight

Global,

Inc.

h

26,111

193

QCR

Holdings,

Inc.

5,767

12,694

Radian

Group,

Inc.

189,394

4,161

Raymond

James

Financial,

Inc.

289,106

3,061

Royal

Bank

of

Canada

211,159

813

S&P

Global,

Inc.

284,753

6,100

Santander

Consumer

USA

Holdings,

Inc.

111,996

7,366

Seacoast

Banking

Corporation

of

Florida

h

139,070

1,349

Selective

Insurance

Group,

Inc.

73,305

2,300

Senshu

Ikeda

Holdings,

Inc.

3,387

4,300

Singapore

Exchange,

Ltd.

25,651

2,400

Sixth

Street

Specialty

Lending,

Inc.

40,896

666

Starwood

Property

Trust,

Inc.

9,957

1,882

State

Auto

Financial

Corporation

29,190

11,186

Sun

Life

Financial,

Inc.

436,016

1,049

Swiss

Life

Holding

AG

383,348

9,656

Synovus

Financial

Corporation

194,568

1,880

T.

Rowe

Price

Group,

Inc.

259,628

432

TMX

Group,

Ltd.

44,160

2,100

Tokio

Marine

Holdings,

Inc.

88,672

734

Topdanmark

AS

31,390

19,555

Toronto-Dominion

Bank

865,299

7,239

Triumph

Bancorp,

Inc.

h

189,662

8,300

Truist

Financial

Corporation

310,918

79

Washington

Trust

Bancorp,

Inc.

2,634

22,802

Wells

Fargo

&

Company

553,177

12,603

Western

Alliance

Bancorp

453,078

16,514

Zions

Bancorporations

NA

536,210

Total

23,479,209

Health

Care

(7.2%)

4,471

Abbott

Laboratories

449,961

895

AbbVie,

Inc.

84,944

2,042

Alexion

Pharmaceuticals,

Inc.

h

209,285

1,855

Align

Technology,

Inc.

h

545,036

2,825

Amgen,

Inc.

691,193

3,677

AMN

Healthcare

Services,

Inc.

h

202,014

1,728

Anthem,

Inc.

473,126

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

23

Shares

Common

Stock

(47.0%)

Value

Health

Care

(7.2%)

-

continued

3,900

Astellas

Pharmaceutical,

Inc.

$

60,832

10,161

Bausch

Health

Companies,

Inc.

h

185,641

1,827

Baxter

International,

Inc.

157,816

1,049

Becton,

Dickinson

and

Company

295,126

1,127

Biogen,

Inc.

h

309,576

4,083

Catalent,

Inc.

h

356,609

7,179

Centene

Corporation

h

468,430

2,331

Cerner

Corporation

161,888

4,100

Chugai

Pharmaceutical

Company,

Ltd.

185,112

2,606

Cigna

Holding

Company

450,030

2,844

CSL,

Ltd.

553,165

5,886

CVS

Health

Corporation

370,465

1,700

Daiichi

Sankyo

Company,

Ltd.

150,427

4,998

Danaher

Corporation

1,018,592

7,132

Edwards

Lifesciences

Corporation

h

559,220

400

Eisai

Company,

Ltd.

32,283

1,493

Eli

Lilly

and

Company

224,383

2,866

Gilead

Sciences,

Inc.

199,273

41,877

GlaxoSmithKline

plc

834,205

6,680

GlaxoSmithKline

plc

ADR

269,338

2,001

Grifols

SA

58,300

1,185

Haemonetics

Corporation

h

103,877

5,956

Halozyme

Therapeutics,

Inc.

h

161,944

2,504

HCA

Healthcare,

Inc.

317,107

533

Humana,

Inc.

209,176

353

Illumina,

Inc.

h

134,902

457

Incyte

Corporation

h

45,133

919

Intuitive

Surgical,

Inc.

h

629,919

1,991

IQVIA

Holding,

Inc.

h

315,355

2,097

Jazz

Pharmaceuticals,

Inc.

h

227,000

11,731

Johnson

&

Johnson

1,709,911

800

KYORIN

Holdings,

Inc.

14,533

284

Laboratory

Corporation

of

America

Holdings

h

54,789

1,624

LHC

Group,

Inc.

h

316,859

281

LNA

Sante

16,955

1,400

M3,

Inc.

71,894

131

Masimo

Corporation

h

28,836

11,960

Medtronic

plc

1,153,901

13,076

Merck

&

Company,

Inc.

1,049,218

275

Mettler-Toledo

International,

Inc.

h

257,125

959

Neurocrine

Biosciences,

Inc.

h

115,425

13,769

Novartis

AG

1,134,115

10,644

Novo

Nordisk

AS

698,380

2,057

Novo

Nordisk

AS

ADR

134,384

2,600

Olympus

Corporation

46,765

7,409

Optinose,

Inc.

h

37,749

625

PerkinElmer,

Inc.

74,319

288

Pfizer,

Inc.

11,082

396

Quest

Diagnostics,

Inc.

50,320

5,304

Recordati

SPA

284,880

3,784

Roche

Holding

AG

1,310,613

12

Siegfried

Holding

AG

6,270

1,070

Sonova

Holding

AG

h

241,932

438

STERIS

plc

69,918

2,753

Stryker

Corporation

532,155

4,629

Syneos

Health,

Inc.

h

288,803

100

Sysmex

Corporation

7,690

3,463

Tactile

Systems

Technology,

Inc.

h,j

141,914

4,300

Takeda

Pharmaceutical

Company,

Ltd.

155,947

152

Tecan

Group

AG

63,748

900

Terumo

Corporation

34,048

2,309

Thermo

Fisher

Scientific,

Inc.

955,811

100

Toho

Holdings

Company,

Ltd.

1,712

Shares

Common

Stock

(47.0%)

Value

Health

Care

(7.2%)

-

continued

400

Tsumura

&

Company

$

9,968

2,492

UnitedHealth

Group,

Inc.

754,528

2,377

Universal

Health

Services,

Inc.

261,232

1,581

Varian

Medical

Systems,

Inc.

h

225,640

582

Veeva

Systems,

Inc.

h

153,980

1,078

Vertex

Pharmaceuticals,

Inc.

h

293,216

1,129

Zimmer

Biomet

Holdings,

Inc.

152,257

3,008

Zoetis,

Inc.

456,253

Total

25,079,758

Industrials

(5.9%)

511

3M

Company

76,890

4,221

Aalberts

NV

150,742

8,380

AGCO

Corporation

549,979

1,644

Allegion

plc

163,512

15,243

Altra

Industrial

Motion

Corporation

521,768

5,402

AMETEK,

Inc.

503,736

1,384

Arcosa,

Inc.

58,432

2,792

ASGN,

Inc.

h

191,140

10,098

Assa

Abloy

AB

222,925

10,718

Atlas

Copco

AB,

Class

A

475,788

4,371

Atlas

Copco

AB,

Class

B

169,169

1,333

Boeing

Company

210,614

1,339

Carlisle

Companies,

Inc.

159,448

13,311

Carrier

Global

Corporation

362,592

1,694

Caterpillar,

Inc.

225,099

1,931

CIA

De

Distribucion

Integral

36,054

454

CSW

Industrials,

Inc.

30,323

3,100

CSX

Corporation

221,154

4,038

Curtiss-Wright

Corporation

359,867

200

Daikin

Industries,

Ltd.

35,189

511

Dart

Group

plc

4,306

8,812

Delta

Air

Lines,

Inc.

220,036

1,373

EMCOR

Group,

Inc.

94,050

5,798

Emerson

Electric

Company

359,534

1,530

Encore

Wire

Corporation

76,791

525

Expeditors

International

of

Washington,

Inc.

44,368

1,365

Fortive

Corporation

95,809

485

Geberit

AG

267,680

5,158

General

Dynamics

Corporation

756,885

260

Gorman-Rupp

Company

7,868

1,400

GS

Yuasa

Corporation

21,770

24,280

GWA

Group,

Ltd.

49,357

1,900

Hanwa

Company,

Ltd.

33,762

2,907

Heico

Corporation

279,421

3,991

Helios

Technologies,

Inc.

150,980

500

Hino

Motors,

Ltd.

2,883

4,909

Honeywell

International,

Inc.

733,257

1,446

Huntington

Ingalls

Industries,

Inc.

251,185

1,593

IDEX

Corporation

262,558

735

Illinois

Tool

Works,

Inc.

135,968

5,900

Inaba

Denki

Sangyo

Company,

Ltd.

134,992

2,419

Ingersoll

-

Rand,

Inc.

h

76,416

12,795

Johnson

Controls

International

plc

492,352

800

Kamigumi

Company,

Ltd.

14,601

1,810

Kansas

City

Southern

311,048

7,500

Kinden

Corporation

116,258

5,371

Koninklijke

Philips

NV

h

277,525

8,063

Legrand

SA

621,918

2,336

Lincoln

Electric

Holdings,

Inc.

211,151

279

Linde

Public

Limited

Company

68,386

1,133

Lockheed

Martin

Corporation

429,373

1,970

Manpower,

Inc.

135,516

22,800

Marubeni

Corporation

104,969

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

24

Shares

Common

Stock

(47.0%)

Value

Industrials

(5.9%)

-

continued

12,190

Meritor,

Inc.

h

$

277,322

1,883

Middleby

Corporation

h,j

156,402

14,700

Mitsubishi

Corporation

296,202

2,300

Mitsuboshi

Belting,

Ltd.

38,068

24,000

Mitsui

&

Company,

Ltd.

358,802

1,163

NAPCO

Security

Technologies,

Inc.

h

30,680

8,110

National

Express

Group

plc

16,137

200

Nidec

Corporation

15,887

100

Nikkon

Holdings

Company,

Ltd.

1,822

8,200

Nitto

Kogyo

Corporation

133,398

4,024

Nobina

AB

h,i

25,346

920

Norfolk

Southern

Corporation

176,833

181

Northrop

Grumman

Corporation

58,827

2,244

Old

Dominion

Freight

Line,

Inc.

410,248

3,020

Otis

Worldwide

Corporation

189,475

12,269

PageGroup

plc

56,174

2,844

Parker-Hannifin

Corporation

508,848

4,027

Patrick

Industries,

Inc.

257,527

6,886

Primoris

Services

Corporation

110,383

7,293

Raven

Industries,

Inc.

157,602

6,041

Raytheon

Technologies

Corporation

342,404

3,000

Recruit

Holdings

Company,

Ltd.

93,588

3,448

Redde

Northgate

plc

7,416

25,474

RELX

plc

536,285

4,040

Ritchie

Brothers

Auctioneers,

Inc.

186,971

2,187

Rockwell

Automation,

Inc.

477,072

1,398

Saia,

Inc.

h

166,991

5,812

Sandvik

AB

h

108,618

200

Sanwa

Holdings

Corporation

1,714

5,639

Schneider

Electric

SE

646,589

2,434

SEEK,

Ltd.

37,436

8,146

Signify

NV

h,i

244,407

9,741

SKF

AB

180,334

92,800

Sojitz

Corporation

194,664

14,311

Southwest

Airlines

Company

442,067

1,339

Spirax-Sarco

Engineering

plc

178,938

962

Spirit

Aerosystems

Holdings,

Inc.

18,826

3,989

Spirit

Airlines,

Inc.

h,j

63,066

158

Stanley

Black

&

Decker,

Inc.

24,225

97

Stantec,

Inc.

3,122

16,600

Sumitomo

Corporation

184,421

700

Taikisha,

Ltd.

19,675

210

Teledyne

Technologies,

Inc.

h

64,407

2,200

Toppan

Forms

Company,

Ltd.

20,778

2,192

Transcontinental,

Inc.

25,267

2,100

Tsubakimoto

Chain

Company

49,289

550

Tutor

Perini

Corporation

h

6,474

1,854

Union

Pacific

Corporation

321,391

297

United

Airlines

Holdings,

Inc.

h

9,320

4,398

United

Rentals,

Inc.

h

683,317

823

Valmont

Industries,

Inc.

99,748

1,386

Verisk

Analytics,

Inc.

261,552

1,822

Vinci

SA

156,811

1,300

Yuasa

Trading

Company,

Ltd.

34,760

Total

20,735,320

Information

Technology

(10.4%)

2,742

Accenture

plc

616,347

1,637

Adobe,

Inc.

h

727,352

1,707

Advanced

Energy

Industries,

Inc.

h

125,584

19,910

Advanced

Micro

Devices,

Inc.

h

1,541,631

700

Advantest

Corporation

38,219

5,252

Agilysys,

Inc.

h

110,082

4,824

Akamai

Technologies,

Inc.

h

542,411

Shares

Common

Stock

(47.0%)

Value

Information

Technology

(10.4%)

-

continued

4,987

Alliance

Data

Systems

Corporation

$

221,223

2,391

Amadeus

IT

Holding

SA

119,396

4,233

Amphenol

Corporation

447,682

375

Analog

Devices,

Inc.

43,069

1,984

ANSYS,

Inc.

h

616,230

10,532

Apple,

Inc.

4,476,521

191

ASM

International

NV

29,217

1,658

ASML

Holding

NV

589,483

3,351

Automatic

Data

Processing,

Inc.

445,381

100

Azbil

Corporation

3,334

3,578

BE

Semiconductor

Industries

NV

159,979

1,900

Blackline,

Inc.

h

168,929

1,256

Broadcom,

Ltd.

397,838

1,002

Broadridge

Financial

Solutions,

Inc.

134,609

3,200

Canon,

Inc.

51,496

292

Capgemini

SA

37,871

1,362

CDW

Corporation

158,333

9,559

CGI,

Inc.

h

682,750

12,899

Change

Healthcare,

Inc.

h

150,402

8,886

Ciena

Corporation

h

528,806

33,291

Cisco

Systems,

Inc.

1,568,006

300

Computer

Engineering

&

Consulting,

Ltd.

4,310

3,699

Computer

Services,

Inc.

211,768

12,233

Computershare,

Ltd.

117,080

100

Cybozu,

Inc.

2,964

883

Dialog

Semiconductor

plc

h

41,391

3,610

Dolby

Laboratories,

Inc.

251,256

13,389

Dropbox,

Inc.

h

304,600

200

DTS

Corporation

3,827

229

Euronet

Worldwide,

Inc.

h

22,016

2,900

Fuji

Soft,

Inc.

130,835

100

Fujitsu,

Ltd.

13,390

792

Gartner,

Inc.

h

98,715

100

GMO

Payment

Gateway,

Inc.

10,484

21,608

Halma

plc

613,752

1,500

Hitachi,

Ltd.

44,931

1,200

Hoya

Corporation

118,343

1,764

II-VI,

Inc.

h

89,470

4,698

Intel

Corporation

224,236

1,022

International

Business

Machines

Corporation

125,645

2,159

Intuit,

Inc.

661,453

500

ITOCHU

Techno-Solutions

Corporation

20,307

316

Jack

Henry

&

Associates,

Inc.

56,343

300

Japan

Material

Company,

Ltd.

4,567

600

Keyence

Corporation

253,012

1,851

KLA-Tencor

Corporation

369,885

386

Lam

Research

Corporation

145,584

500

Lasertec

Corporation

44,147

4,544

Lattice

Semiconductor

Corporation

h

141,273

833

Littelfuse,

Inc.

147,982

2,589

Lumentum

Holdings,

Inc.

h

240,337

4,676

MasterCard,

Inc.

1,442,686

2,339

Microchip

Technology,

Inc.

237,946

9,587

Micron

Technology,

Inc.

h

479,877

22,272

Microsoft

Corporation

4,565,983

345

Monolithic

Power

Systems,

Inc.

91,428

1,503

Motorola

Solutions,

Inc.

210,119

400

Murata

Manufacturing

Company,

Ltd.

25,692

5,759

National

Instruments

Corporation

204,445

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

25

Shares

Common

Stock

(47.0%)

Value

Information

Technology

(10.4%)

-

continued

9,500

NEC

Networks

&

System

Integration

Corporation

$

201,817

1,387

Nice,

Ltd.

ADR

h,j

284,668

400

NS

Solutions

Corporation

10,534

400

NSD

Company,

Ltd.

7,274

200

NTT

Data

Corporation

2,274

30,428

Nuance

Communications,

Inc.

h

832,206

1,670

NVIDIA

Corporation

709,065

100

OBIC

Company,

Ltd.

17,933

2,700

ON

Semiconductor

Corporation

h

55,620

7,987

Oracle

Corporation

442,879

500

Oracle

Corporation

Japan

60,231

400

Otsuka

Corporation

20,856

1,147

Paychex,

Inc.

82,492

2,437

PayPal

Holdings,

Inc.

h

477,823

2,133

Plexus

Corporation

h

158,461

3,289

QUALCOMM,

Inc.

347,351

1,400

Ryoyo

Electro

Corporation

38,986

13,019

Sabre

Corporation

98,424

1,305

Sage

Group

plc

12,384

7,828

SailPoint

Technologies

Holdings,

Inc.

h

246,582

731

Salesforce.com,

Inc.

h

142,435

354

Samsung

Electronics

Company,

Ltd.

GDR

429,294

285

SAP

SE

44,988

1,788

ServiceNow,

Inc.

h

785,290

78

Skyworks

Solutions,

Inc.

11,355

2,489

Square,

Inc.

h

323,197

1,628

Synopsys,

Inc.

h

324,330

516

Technology

One,

Ltd.

3,097

6,599

Teradyne,

Inc.

587,047

9,604

Texas

Instruments,

Inc.

1,224,990

800

TIS,

Inc.

17,132

600

Tokyo

Electron,

Ltd.

166,030

586

VeriSign,

Inc.

h

124,044

4,867

Virtusa

Corporation

h

197,600

5,737

Visa,

Inc.

1,092,325

1,362

VMware,

Inc.

h,j

190,966

Total

36,276,240

Materials

(2.1%)

432

Air

Liquide

SA

71,056

6,900

Air

Water,

Inc.

89,463

3,048

Anglo

American

plc

73,786

9,320

Axalta

Coating

Systems,

Ltd.

h

206,904

5,449

Ball

Corporation

401,210

638

Barrick

Gold

Corporation

18,438

3,322

BHP

Group,

Ltd.

87,464

3,660

Boise

Cascade

Company

170,519

3,015

Centamin

plc

8,071

9,670

CF

Industries

Holdings,

Inc.

302,961

73

Christian

Hansen

Holding

AS

8,330

2,438

Croda

International

plc

181,959

5,486

Eastman

Chemical

Company

409,420

2,670

Ecolab,

Inc.

499,504

15,687

Element

Solutions,

Inc.

h

170,361

99

EMS-CHEMIE

Holding

AG

85,493

234

Eramet

SA

h

6,373

40

Givaudan

SA

165,669

7,899

Granges

AB

h

63,803

11,922

Hexpol

AB

h

79,324

8,009

Hochschild

Mining

plc

28,380

876

Holmen

AB

30,191

13,902

IAMGOLD

Corporation

h

69,232

342

IMCD

NV

35,365

Shares

Common

Stock

(47.0%)

Value

Materials

(2.1%)

-

continued

36,034

Ivanhoe

Mines,

Ltd.

h

$

126,978

4,356

Koninklijke

DSM

NV

666,757

6,200

Kyoei

Steel,

Ltd.

73,718

800

Lintec

Corporation

18,665

13,016

Louisiana-Pacific

Corporation

412,217

461

MAG

Silver

Corporation

h

7,789

12,500

Nippon

Steel

Corporation

102,492

100

Nippon

Steel

Trading

Corporation

2,982

2,211

Northern

Star

Resources,

Ltd.

25,094

513

Novozymes

AS

30,687

5,179

Nucor

Corporation

217,259

546

Osisko

Gold

Royalties,

Ltd.

6,400

4,260

Ramelius

Resources,

Ltd.

6,734

1,860

Rio

Tinto

plc

113,223

1,996

Rio

Tinto,

Ltd.

146,084

18,164

Sandfire

Resources,

Ltd.

61,733

436

Sherwin-Williams

Company

282,493

300

Shin-Etsu

Chemical

Company,

Ltd.

35,112

1,287

Sika

AG

282,795

7,518

Silver

Lake

Resources,

Ltd.

h

13,456

8,992

Steel

Dynamics,

Inc.

246,471

17,500

Sumitomo

Chemical

Company,

Ltd.

50,498

1,595

Symrise

AG

199,393

1,100

Taiyo

Holdings

Company,

Ltd.

51,967

4,600

Toagosei

Company,

Ltd.

43,857

31,700

Toray

Industries,

Inc.

137,215

3,100

Ube

Industries,

Ltd.

50,630

2,404

UFP

Technologies,

Inc.

h

103,709

2,232

United

States

Lime

&

Minerals,

Inc.

201,349

7,963

UPM-Kymmene

Oyj

212,562

6,738

Verso

Corporation

82,271

Total

7,275,866

Real

Estate

(2.0%)

1,351

Agree

Realty

Corporation

90,476

2,136

Alexandria

Real

Estate

Equities,

Inc.

379,247

3,977

Allied

Properties

REIT

119,092

4,173

Alstria

Office

REIT

AG

h

62,379

9,276

American

Campus

Communities,

Inc.

330,597

1,081

American

Tower

Corporation

282,563

76,848

Ascendas

REIT

198,918

11,800

Ascott

Trust

7,746

1,315

AvalonBay

Communities,

Inc.

201,353

3,756

Camden

Property

Trust

341,082

5,573

Castellum

AB

119,856

3,421

CBRE

Group,

Inc.

h

149,874

3,902

Choice

Properties

REIT

36,939

148

Cofinimmo

SA

21,125

2,690

Colliers

International

Group,

Inc.

145,287

424

CoreSite

Realty

Corporation

54,717

2,000

Daito

Trust

Construction

Company,

Ltd.

156,845

1,708

Digital

Realty

Trust,

Inc.

274,202

6,379

Douglas

Emmett,

Inc.

185,884

8,805

Duke

Realty

Corporation

353,873

561

EastGroup

Properties,

Inc.

74,422

1,562

Entra

ASA

i

22,051

4,985

Equity

Residential

267,346

3,425

Essential

Properties

Realty

Trust,

Inc.

55,142

834

Essex

Property

Trust,

Inc.

184,097

4,083

First

Industrial

Realty

Trust,

Inc.

179,325

739

Four

Corners

Property

Trust,

Inc.

18,623

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

26

Shares

Common

Stock

(47.0%)

Value

Real

Estate

(2.0%)

-

continued

3

Fukuoka

REIT

Corporation

$

3,482

874

Getty

Realty

Corporation

25,897

5,929

Granite

REIT

344,820

2

Hankyu

REIT,

Inc.

2,153

25,535

Host

Hotels

&

Resorts,

Inc.

275,267

9,000

Hysan

Development

Company,

Ltd.

24,864

930

iSTAR

Financial,

Inc.

10,797

129

Japan

Hotel

REIT

Investment

Corporation

46,793

1,065

Kilroy

Realty

Corporation

62,058

1,234

Kungsleden

AB

9,981

23

LEG

Immobilien

AG

3,207

2,945

Lexington

Realty

Trust

34,162

20,200

Mapletree

Commercial

Trust

27,200

6

Mori

Trust

Sogo

REIT,

Inc.

7,003

6,459

National

Storage

Affiliates

Trust

199,066

11

Nomura

Real

Estate

Master

Fund,

Inc.

13,642

581

Plymouth

Industrial

REIT,

Inc.

7,710

3,824

PSP

Swiss

Property

AG

424,804

8,525

Quebecor,

Inc.

194,501

3,133

Rayonier,

Inc.

REIT

87,035

2,188

RioCan

REIT

24,437

14,000

Road

King

Infrastructure,

Ltd.

18,833

20,938

Sunstone

Hotel

Investors,

Inc.

156,616

1,390

Swiss

Prime

Site

AG

126,856

12,917

TAG

Immobilien

AG

339,645

1,635

Terreno

Realty

Corporation

99,343

4,307

UDR,

Inc.

155,913

509

Unibail-Rodamco-Westfield

26,699

13

United

Urban

Investment

Corporation

12,642

2,590

Waypoint

REIT,

Ltd.

4,665

33,000

Wing

Tai

Holdings,

Ltd.

41,104

656

WP

Carey,

Inc.

46,819

Total

7,171,075

Utilities

(0.8%)

2,995

AGL

Energy,

Ltd.

35,477

4,570

Alliant

Energy

Corporation

246,095

12,629

CenterPoint

Energy,

Inc.

240,077

3,826

CMS

Energy

Corporation

245,553

4,050

Duke

Energy

Corporation

343,197

8,271

Enagas

SA

208,672

2,111

Enel

SPA

19,338

5,802

Entergy

Corporation

609,964

5,020

Exelon

Corporation

193,822

5,210

FirstEnergy

Corporation

151,090

533

NextEra

Energy,

Inc.

149,613

2,149

Northland

Power,

Inc.

58,881

1,521

NorthWestern

Corporation

85,572

2,517

PNM

Resources,

Inc.

106,293

1,995

Portland

General

Electric

Company

88,039

1,219

Spire,

Inc.

75,164

219

Unitil

Corporation

9,450

Total

2,866,297

Total

Common

Stock

(cost

$143,871,266)

164,465,630

Principal

Amount

Long-Term

Fixed

Income

(

25.0%

)

Value

Asset-Backed

Securities

(2.1%)

Babson

CLO,

Ltd.

$

300,000

3.172%, 

(LIBOR

3M

+

2.900%),

7/20/2029,

Ser.

2018-3A,

Class

D

b,i

$

263,114

Benefit

Street

Partners

CLO

IV,

Ltd.

300,000

2.022%, 

(LIBOR

3M

+

1.750%),

1/20/2029,

Ser.

2014-IVA,

Class

A2RR

b,i

296,849

Business

Jet

Securities,

LLC

325,606

4.447%, 

6/15/2033,

Ser.

2018-2,

Class

A

i

325,802

Cent

CLO,

LP

750,000

2.545%, 

(LIBOR

3M

+

2.300%),

10/25/2028,

Ser.

2018-27A,

Class

B

b,i

726,077

College

Ave

Student

Loans,

LLC

169,292

1.822%, 

(LIBOR

1M

+

1.650%),

11/26/2046,

Ser.

2017-A,

Class

A1

b,i

168,438

Foundation

Finance

Trust

113,958

3.300%, 

7/15/2033,

Ser.

2017-1A,

Class

A

i

115,123

Harley

Marine

Financing,

LLC

395,026

5.682%, 

5/15/2043,

Ser.

2018-1A,

Class

A2

i

355,108

Madison

Park

Funding

XIV,

Ltd.

425,000

1.658%, 

(LIBOR

3M

+

1.400%),

10/22/2030,

Ser.

2014-14A,

Class

A2RR

b,i

412,364

OHA

Credit

Funding

1,

Ltd.

350,000

1.722%, 

(LIBOR

3M

+

1.450%),

10/20/2030,

Ser.

2018-1A,

Class

A2

b,i

342,741

OZLM

Funding

II,

Ltd.

700,000

1.768%, 

(LIBOR

3M

+

1.500%),

7/30/2031,

Ser.

2012-2A,

Class

A1BR

b,i

682,185

OZLM

IX,

Ltd.

400,000

1.822%, 

(LIBOR

3M

+

1.550%),

10/20/2031,

Ser.

2014-9A,

Class

A1BR

b,i

393,156

Palmer

Square

Loan

Funding,

Ltd.

300,000

2.522%, 

(LIBOR

3M

+

2.250%),

4/20/2027,

Ser.

2019-1A,

Class

B

b,i

296,594

Park

Avenue

Institutional

Advisers

CLO,

Ltd.

700,000

1.772%, 

(LIBOR

3M

+

1.500%),

10/20/2031,

Ser.

2018-1A,

Class

A1B

b,i

695,597

Pretium

Mortgage

Credit

Partners,

LLC

366,609

3.721%, 

1/25/2059,

Ser.

2019-CFL1,

Class

A1

i,k

364,595

Riserva

CLO,

Ltd.

325,000

1.972%, 

(LIBOR

3M

+

1.700%),

10/18/2028,

Ser.

2016-3A,

Class

BR

b,i

317,845

Sound

Point

CLO

X,

Ltd.

350,000

2.972%, 

(LIBOR

3M

+

2.700%),

1/20/2028,

Ser.

2015-3A,

Class

DR

b,i

317,173

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

27

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Asset-Backed

Securities

(2.1%)

-

continued

Sound

Point

CLO

XXI,

Ltd.

$

700,000

1.695%, 

(LIBOR

3M

+

1.450%),

10/26/2031,

Ser.

2018-3A,

Class

A1B

b,i

$

677,348

THL

Credit

Wind

River

CLO,

Ltd.

350,000

3.125%, 

(LIBOR

3M

+

2.850%),

7/15/2028,

Ser.

2016-1A,

Class

DR

b,i

319,560

Vericrest

Opportunity

Loan

Transferee

321,301

3.352%, 

9/25/2049,

Ser.

2019-NPL5,

Class

A1A

i,k

321,035

Total

7,390,704

Basic

Materials

(0.5%)

Air

Products

and

Chemicals,

Inc.

7,000

1.500%, 

10/15/2025

7,314

Alcoa

Nederland

Holding

BV

70,000

5.500%, 

12/15/2027

i

75,446

Anglo

American

Capital

plc

76,000

4.125%, 

9/27/2022

i

80,170

BHP

Billiton

Finance

USA,

Ltd.

132,000

6.750%, 

10/19/2075

b,i

155,867

BWAY

Holding

Company

80,000

5.500%, 

4/15/2024

i

81,566

Cleveland-Cliffs,

Inc.

60,000

5.750%, 

3/1/2025

51,750

50,000

9.875%, 

10/17/2025

i

54,625

EI

du

Pont

de

Nemours

&

Company

29,000

1.700%, 

7/15/2025

30,312

First

Quantum

Minerals,

Ltd.

90,000

7.500%, 

4/1/2025

i

90,900

Freeport-McMoRan,

Inc.

80,000

4.125%, 

3/1/2028

84,100

90,000

4.250%, 

3/1/2030

94,032

Kinross

Gold

Corporation

38,000

5.125%, 

9/1/2021

39,346

Krayton

Polymers,

LLC

110,000

7.000%, 

4/15/2025

i

113,850

Methanex

Corporation

100,000

5.250%, 

12/15/2029

96,750

Mosaic

Company

14,000

3.250%, 

11/15/2022

14,444

Norbord,

Inc.

110,000

5.750%, 

7/15/2027

i

117,150

Novelis

Corporation

140,000

5.875%, 

9/30/2026

i

149,367

30,000

4.750%, 

1/30/2030

i

31,298

Nucor

Corporation

14,000

2.000%, 

6/1/2025

14,735

Olin

Corporation

100,000

5.125%, 

9/15/2027

97,000

Peabody

Securities

Finance

Corporation

90,000

6.375%, 

3/31/2025

i

45,000

Steel

Dynamics,

Inc.

17,000

2.400%, 

6/15/2025

17,847

Syngenta

Finance

NV

64,000

3.933%, 

4/23/2021

i

64,643

Tronox

Finance

plc

120,000

5.750%, 

10/1/2025

i

118,800

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Basic

Materials

(0.5%)

-

continued

Xstrata

Finance

Canada,

Ltd.

$

57,000

4.950%, 

11/15/2021

i

$

59,683

Total

1,785,995

Capital

Goods

(1.0%)

AECOM

185,000

5.125%, 

3/15/2027

203,269

Amsted

Industries,

Inc.

145,000

5.625%, 

7/1/2027

i

152,975

Ardagh

Packaging

Finance

plc

45,000

6.000%, 

2/15/2025

i,j

47,025

50,000

5.250%, 

8/15/2027

i

52,338

Berry

Global,

Inc.

70,000

4.875%, 

7/15/2026

i

73,937

Caterpillar

Financial

Services

Corporation

53,000

1.900%, 

9/6/2022

54,661

44,000

1.950%, 

11/18/2022

45,571

30,000

1.450%, 

5/15/2025

31,072

Chart

Industries,

Inc.,

Convertible

46,000

1.000%, 

11/15/2024

i

60,990

Cintas

Corporation

No.

2

57,000

2.900%, 

4/1/2022

59,123

CNH

Industrial

Capital,

LLC

56,000

4.875%, 

4/1/2021

57,448

17,000

1.950%, 

7/2/2023

17,158

Covanta

Holding

Corporation

110,000

6.000%, 

1/1/2027

113,850

Crown

Americas

Capital

Corporation

IV

160,000

4.500%, 

1/15/2023

168,883

Fortive

Corporation,

Convertible

113,000

0.875%, 

2/15/2022

112,432

General

Electric

Company

240,000

5.000%, 

1/21/2021

b,l

190,200

H&E

Equipment

Services,

Inc.

130,000

5.625%, 

9/1/2025

135,362

Honeywell

International,

Inc.

29,000

1.350%, 

6/1/2025

30,003

Huntington

Ingalls

Industries,

Inc.

25,000

3.844%, 

5/1/2025

i

27,771

Jeld-Wen,

Inc.

70,000

4.625%, 

12/15/2025

i

70,700

John

Deere

Capital

Corporation

39,000

1.200%, 

4/6/2023

39,875

44,000

2.050%, 

1/9/2025

46,903

KBR,

Inc.,

Convertible

208,000

2.500%, 

11/1/2023

234,393

L3Harris

Technologies,

Inc.

65,000

4.950%, 

2/15/2021

65,779

Otis

Worldwide

Corporation

39,000

2.056%, 

4/5/2025

i

41,302

Owens-Brockway

Glass

Container,

Inc.

21,000

5.000%, 

1/15/2022

i

21,053

PACCAR

Financial

Corporation

15,000

2.650%, 

4/6/2023

15,837

Parker-Hannifin

Corporation

64,000

2.700%, 

6/14/2024

68,886

Patrick

Industries,

Inc.,

Convertible

61,000

1.000%, 

2/1/2023

61,291

Raytheon

Technologies

Corporation

37,000

2.800%, 

3/15/2022

i

38,264

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

28

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Capital

Goods

(1.0%)

-

continued

Republic

Services,

Inc.

$

36,000

2.500%, 

8/15/2024

$

38,597

Reynolds

Group

Issuer,

Inc.

150,000

5.125%, 

7/15/2023

i

152,295

Roper

Technologies,

Inc.

31,000

2.350%, 

9/15/2024

33,033

Spirit

AeroSystems,

Inc.

20,000

7.500%, 

4/15/2025

i

19,656

Standard

Industries,

Inc.

130,000

4.375%, 

7/15/2030

i

140,400

Textron

Financial

Corporation

140,000

2.127%, 

(LIBOR

3M

+

1.735%),

2/15/2042

b,i

92,400

TransDigm,

Inc.

40,000

6.250%, 

3/15/2026

i

42,200

160,000

5.500%, 

11/15/2027

151,792

TTM

Technologies,

Inc.,

Convertible

105,000

1.750%, 

12/15/2020

135,298

Tutor

Perini

Corporation,

Convertible

26,000

2.875%, 

6/15/2021

25,206

United

Rentals

North

America,

Inc.

180,000

4.000%, 

7/15/2030

186,300

United

Technologies

Corporation

70,000

3.950%, 

8/16/2025

81,073

WESCO

Distribution,

Inc.

30,000

7.250%, 

6/15/2028

i

32,775

WW

Grainger,

Inc.

24,000

1.850%, 

2/15/2025

25,251

Total

3,494,627

Collateralized

Mortgage

Obligations

(4.7%)

Antler

Mortgage

Trust

350,000

4.458%, 

6/27/2022,

Ser.

2019-RTL1,

Class

A1

i

350,948

874,507

4.335%, 

7/25/2022,

Ser.

2018-RTL1,

Class

A1

i

876,209

Banc

of

America

Alternative

Loan

Trust

226,416

6.000%, 

11/25/2035,

Ser.

2005-10,

Class

3CB1

214,506

Banc

of

America

Mortgage

Securities

Trust

252,709

3.945%, 

9/25/2035,

Ser.

2005-H,

Class

3A1

b

232,721

56,090

4.089%, 

9/25/2035,

Ser.

2005-H,

Class

2A1

b

51,441

Bellemeade

Re,

Ltd.

261,355

1.772%, 

(LIBOR

1M

+

1.600%),

4/25/2028,

Ser.

2018-1A,

Class

M1B

b,i

258,779

125,000

2.822%, 

(LIBOR

1M

+

2.650%),

6/25/2030,

Ser.

2020-1A,

Class

M1A

b,i

125,377

200,000

3.572%, 

(LIBOR

1M

+

3.400%),

6/25/2030,

Ser.

2020-1A,

Class

M1B

b,i

201,601

Bunker

Hill

Loan

Depositary

Trust

100,000

2.600%, 

2/25/2055,

Ser.

2020-1,

Class

A2

b,i

100,427

CHL

Mortgage

Pass-Through

Trust

246,072

3.403%, 

11/20/2035,

Ser.

2005-HYB7,

Class

6A1

b

206,081

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Collateralized

Mortgage

Obligations

(4.7%)

-

continued

$

118,616

3.454%, 

12/20/2035,

Ser.

2005-HYB8,

Class

3A1

b

$

116,128

360,670

6.000%, 

11/25/2037,

Ser.

2007-18,

Class

1A2

289,554

CIM

Trust

226,881

5.000%, 

12/25/2057,

Ser.

2018-R3,

Class

A1

b,i

238,947

Citigroup

Mortgage

Loan

Trust,

Inc.

290,610

3.974%, 

4/25/2037,

Ser.

2007-AR5,

Class

1A1A

b

275,290

Countrywide

Alternative

Loan

Trust

276,583

6.500%, 

8/25/2036,

Ser.

2006-23CB,

Class

2A3

150,646

Countrywide

Home

Loan

Mortgage

Pass

Through

Trust

143,318

3.558%, 

11/25/2035,

Ser.

2005-22,

Class

2A1

b

130,110

Credit

Suisse

First

Boston

Mortgage

Securities

Corporation

103,189

5.250%, 

10/25/2035,

Ser.

2005-9,

Class

1A3

103,381

Credit

Suisse

Mortgage

Capital

Certificates

118,011

3.393%, 

2/25/2024,

Ser.

2020-BPL1,

Class

A1

i,k

118,073

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

207,410

5.250%, 

6/25/2035,

Ser.

2005-3,

Class

4A6

212,141

Eagle

Re,

Ltd.

360,939

1.972%, 

(LIBOR

1M

+

1.800%),

4/25/2029,

Ser.

2019-1,

Class

M1B

b,i

358,058

Federal

Home

Loan

Mortgage

Corporation

845,775

3.500%, 

8/15/2035,

Ser.

345,

Class

C8

m

91,229

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

695,220

3.000%, 

5/15/2027,

Ser.

4046,

Class

GI

m

40,133

775,511

3.500%, 

10/15/2032,

Ser.

4119,

Class

KI

m

94,639

804,515

3.000%, 

4/15/2033,

Ser.

4203,

Class

DI

m

60,841

Federal

National

Mortgage

Association

-

REMIC

906,834

3.000%, 

7/25/2027,

Ser.

2012-73,

Class

DI

m

51,240

758,119

3.000%, 

7/25/2027,

Ser.

2012-74,

Class

AI

m

38,634

1,178,406

3.000%, 

8/25/2027,

Ser.

2012-95,

Class

HI

m

59,299

1,831,422

3.000%, 

11/25/2027,

Ser.

2012-121,

Class

BI

m

116,820

1,011,349

3.000%, 

12/25/2027,

Ser.

2012-139,

Class

DI

m

55,173

557,398

2.500%, 

1/25/2028,

Ser.

2012-152,

Class

AI

m

30,642

1,326,672

3.000%, 

1/25/2028,

Ser.

2012-147,

Class

EI

m

74,159

2,058,951

3.000%, 

3/25/2028,

Ser.

2013-18,

Class

IL

m

116,561

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

29

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Collateralized

Mortgage

Obligations

(4.7%)

-

continued

$

742,560

2.500%, 

6/25/2028,

Ser.

2013-87,

Class

IW

m

$

43,173

815,241

3.000%, 

11/25/2031,

Ser.

2013-69,

Class

IO

m

39,718

520,981

3.000%, 

2/25/2033,

Ser.

2013-1,

Class

YI

m

55,427

Genworth

Mortgage

Insurance

Corporation

150,000

2.072%, 

(LIBOR

1M

+

1.900%),

11/26/2029,

Ser.

2019-1,

Class

M1

b,i

144,319

GMAC

Mortgage

Corporation

Loan

Trust

132,646

3.670%, 

5/25/2035,

Ser.

2005-AR2,

Class

4A

b

124,630

16,625

0.672%, 

(LIBOR

1M

+

0.500%),

8/25/2035,

Ser.

2005-HE1,

Class

A2

b,n

17,540

IndyMac

INDA

Mortgage

Loan

Trust

668,658

3.624%, 

8/25/2036,

Ser.

2006-AR1,

Class

A1

b

617,583

IndyMac

INDX

Mortgage

Loan

Trust

445,660

0.382%, 

(LIBOR

1M

+

0.210%),

4/25/2046,

Ser.

2006-AR2,

Class

1A1B

b

395,541

J.P.

Morgan

Alternative

Loan

Trust

123,716

3.796%, 

3/25/2036,

Ser.

2006-A1,

Class

2A1

b

110,472

369,027

6.500%, 

3/25/2036,

Ser.

2006-S1,

Class

1A19

302,022

Legacy

Mortgage

Asset

Trust

336,150

4.000%, 

1/25/2059,

Ser.

2019-GS1,

Class

A1

i

341,851

295,464

3.250%, 

2/25/2060,

Ser.

2020-GS4,

Class

A1

i,k

297,454

Lehman

Mortgage

Trust

26,540

6.000%, 

1/25/2036,

Ser.

2005-3,

Class

2A7

28,433

Master

Asset

Securitization

Trust

340,973

0.672%, 

(LIBOR

1M

+

0.500%),

6/25/2036,

Ser.

2006-2,

Class

2A2

b

93,539

Merrill

Lynch

Mortgage

Investors

Trust

227,401

3.510%, 

6/25/2035,

Ser.

2005-A5,

Class

M1

b

120,662

New

Residential

Mortgage

Loan

Trust

98,711

4.335%, 

7/25/2050,

Ser.

2020-NPL1,

Class

A1

i,k

98,700

Preston

Ridge

Partners

Mortgage

Trust,

LLC

102,715

4.500%, 

1/25/2024,

Ser.

2019-1A,

Class

A1

i,k

103,375

358,056

3.967%, 

4/25/2024,

Ser.

2019-2A,

Class

A1

i,k

360,999

330,366

3.500%, 

10/25/2024,

Ser.

2019-GS1,

Class

A1

b,i

328,732

198,220

4.750%, 

10/25/2024,

Ser.

2019-GS1,

Class

A2

b,i

194,388

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Collateralized

Mortgage

Obligations

(4.7%)

-

continued

Pretium

Mortgage

Credit

Partners,

LLC

$

363,890

2.858%, 

5/27/2059,

Ser.

2020-NPL1,

Class

A1

i,k

$

360,423

Radnor

RE,

Ltd.

475,000

2.872%, 

(LIBOR

1M

+

2.700%),

3/25/2028,

Ser.

2018-1,

Class

M2

b,i

449,469

RCO

Mortgage,

LLC

180,430

3.475%, 

11/25/2024,

Ser.

2019-2,

Class

A1

i,k

179,668

378,515

3.197%, 

11/25/2052,

Ser.

2017-INV1,

Class

A

b,i

382,064

Residential

Accredit

Loans,

Inc.

Trust

162,338

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

162,577

161,330

5.750%, 

9/25/2035,

Ser.

2005-QS13,

Class

2A3

160,242

112,208

6.000%, 

1/25/2037,

Ser.

2007-QS1,

Class

1A1

107,236

Residential

Asset

Securitization

Trust

168,267

2.847%, 

1/25/2034,

Ser.

2004-IP1,

Class

A1

b

162,409

235,802

5.500%, 

4/25/2035,

Ser.

2005-A1,

Class

A3

246,478

Residential

Funding

Mortgage

Security

I

Trust

258,335

6.000%, 

7/25/2037,

Ser.

2007-S7,

Class

A20

240,149

Silver

Hill

Trust

181,571

3.102%, 

11/25/2049,

Ser.

2019-SBC1,

Class

A1

b,i

184,922

Stanwich

Mortgage

Loan

Trust

150,573

3.475%, 

11/16/2024,

Ser.

2019-NPB2,

Class

A1

i,k

149,075

Starwood

Mortgage

Residential

Trust

259,128

4.121%, 

10/25/2048,

Ser.

2018-IMC2,

Class

A1

b,i

267,252

200,000

3.970%, 

4/25/2060,

Ser.

2020-2,

Class

A2

b,i

200,440

Structured

Adjustable

Rate

Mortgage

Loan

Trust

92,148

3.712%, 

7/25/2035,

Ser.

2005-15,

Class

4A1

b

81,780

184,034

3.922%, 

9/25/2035,

Ser.

2005-18,

Class

1A1

b

146,625

Structured

Asset

Mortgage

Investments,

Inc.

342,452

0.482%, 

(LIBOR

1M

+

0.310%),

12/25/2035,

Ser.

2005-AR4,

Class

A1

b

314,679

Toorak

Mortgage

Corporation

450,000

4.336%, 

8/25/2021,

Ser.

2018-1,

Class

A1

i,k

450,437

500,000

4.458%, 

3/25/2022,

Ser.

2019-1,

Class

A1

i,k

502,879

250,000

2.734%, 

3/25/2023,

Ser.

2020-1,

Class

A1

i,k

245,222

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

30

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Collateralized

Mortgage

Obligations

(4.7%)

-

continued

Vericrest

Opportunity

Loan

Transferee

$

140,966

2.981%, 

3/25/2050,

Ser.

2020-NPL4,

Class

A1

i,k

$

138,746

350,000

3.475%, 

3/25/2050,

Ser.

2020-NPL5,

Class

A1B

i,k

339,061

98,560

3.352%, 

8/25/2049,

Ser.

2019-NPL4,

Class

A1A

i,k

98,663

750,000

4.090%, 

11/25/2049,

Ser.

2019-NPL8,

Class

A1B

i,k

723,845

78,319

3.426%, 

12/27/2049,

Ser.

2019-NP10,

Class

A1A

i,k

78,183

Verus

Securitization

Trust

271,149

3.345%, 

5/25/2059,

Ser.

2019-2,

Class

A2

b,i

270,035

Wachovia

Asset

Securitization,

Inc.

170,109

0.312%, 

(LIBOR

1M

+

0.140%),

7/25/2037,

Ser.

2007-HE1,

Class

A

b,i,n

146,940

WaMu

Mortgage

Pass

Through

Certificates

213,762

2.202%, 

(12

MTA

+

0.880%),

10/25/2046,

Ser.

2006-AR13,

Class

1A

b

189,129

Wells

Fargo

Home

Equity

Trust

174,826

0.672%, 

(LIBOR

1M

+

0.500%),

4/25/2034,

Ser.

2004-1,

Class

M1

b

166,705

Total

16,403,679

Commercial

Mortgage-Backed

Securities

(0.2%)

Federal

National

Mortgage

Association

-

ACES

4,481,268

1.345%, 

2/25/2031,

Ser.

2019-M21,

Class

X2

b,m

484,631

Total

484,631

Communications

Services

(2.1%)

Altice

France

SA

60,000

5.500%, 

1/15/2028

i

63,300

AMC

Networks,

Inc.

65,000

5.000%, 

4/1/2024

66,056

American

Tower

Corporation

46,000

3.375%, 

5/15/2024

50,326

37,000

2.950%, 

1/15/2025

40,319

AT&T,

Inc.

128,000

4.450%, 

4/1/2024

144,269

CCO

Holdings,

LLC

100,000

5.500%, 

5/1/2026

i

105,780

100,000

5.125%, 

5/1/2027

i

106,094

100,000

4.500%, 

8/15/2030

i

105,990

60,000

4.250%, 

2/1/2031

i

62,579

CCOH

Safari,

LLC

135,000

5.750%, 

2/15/2026

i

141,075

Charter

Communications

Operating,

LLC

46,000

4.500%, 

2/1/2024

51,125

33,000

4.908%, 

7/23/2025

38,257

Clear

Channel

Worldwide

Holdings,

Inc.

100,000

5.125%, 

8/15/2027

i

98,000

Comcast

Corporation

35,000

3.700%, 

4/15/2024

38,956

35,000

3.950%, 

10/15/2025

40,538

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Communications

Services

(2.1%)

-

continued

Cox

Communications,

Inc.

$

48,000

2.950%, 

6/30/2023

i

$

50,961

Crown

Castle

International

Corporation

29,000

4.450%, 

2/15/2026

33,941

CSC

Holdings,

LLC

200,000

5.500%, 

5/15/2026

i

209,750

30,000

4.125%, 

12/1/2030

i

31,612

Deutsche

Telekom

International

Finance

BV

36,000

2.485%, 

9/19/2023

i

37,765

Discovery

Communications,

LLC

40,000

2.950%, 

3/20/2023

42,091

DISH

Network

Corporation,

Convertible

437,000

3.375%, 

8/15/2026

402,315

Embarq

Corporation

110,000

7.995%, 

6/1/2036

128,920

Entercom

Media

Corporation

50,000

6.500%, 

5/1/2027

i

44,625

Fox

Corporation

68,000

4.030%, 

1/25/2024

75,410

Front

Range

BidCo,

Inc.

140,000

4.000%, 

3/1/2027

i

140,309

GCI

Liberty,

Inc.,

Convertible

586,000

1.750%, 

9/30/2046

i

925,563

Gray

Escrow,

Inc.

100,000

7.000%, 

5/15/2027

i

109,250

iHeartCommunications,

Inc.

70,000

4.750%, 

1/15/2028

i

69,496

Lamar

Media

Corporation

70,000

3.750%, 

2/15/2028

i

70,612

Level

3

Financing,

Inc.

90,000

5.250%, 

3/15/2026

94,002

80,000

4.625%, 

9/15/2027

i

84,100

110,000

4.250%, 

7/1/2028

i

114,675

Liberty

Interactive,

LLC,

Convertible

109,000

3.500%, 

1/15/2031

80,389

Liberty

Media

Corporation,

Convertible

63,000

1.000%, 

1/30/2023

73,194

Moody's

Corporation

38,000

2.750%, 

12/15/2021

39,071

Neptune

Finco

Corporation

95,000

10.875%, 

10/15/2025

i

101,850

Netflix,

Inc.

200,000

4.875%, 

4/15/2028

232,484

Nexstar

Escrow

Corporation

70,000

5.625%, 

8/1/2024

i

71,925

90,000

5.625%, 

7/15/2027

i

96,327

SBA

Communications

Corporation

60,000

3.875%, 

2/15/2027

i

62,100

SFR

Group

SA

130,000

7.375%, 

5/1/2026

i

138,665

Sirius

XM

Radio,

Inc.

210,000

5.000%, 

8/1/2027

i

223,822

50,000

4.125%, 

7/1/2030

i

52,765

Sprint

Capital

Corporation

80,000

6.875%, 

11/15/2028

103,736

Sprint

Corporation

200,000

7.250%, 

9/15/2021

211,500

205,000

7.625%, 

2/15/2025

248,987

Telesat

Canada

/

Telesat,

LLC

160,000

4.875%, 

6/1/2027

i

162,400

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

31

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Communications

Services

(2.1%)

-

continued

T-Mobile

USA,

Inc.

$

43,000

3.500%, 

4/15/2025

i

$

47,507

210,000

4.500%, 

2/1/2026

216,300

Twitter,

Inc.,

Convertible

283,000

0.250%, 

6/15/2024

292,905

Univision

Communications,

Inc.

60,000

6.625%, 

6/1/2027

i

60,168

VeriSign,

Inc.

110,000

4.750%, 

7/15/2027

119,436

Verizon

Communications,

Inc.

91,000

2.946%, 

3/15/2022

94,821

73,000

1.492%, 

(LIBOR

3M

+

1.100%),

5/15/2025

b

74,710

Viacom,

Inc.

55,000

4.250%, 

9/1/2023

60,210

38,000

5.875%, 

2/28/2057

b

39,665

Virgin

Media

Secured

Finance

plc

150,000

5.500%, 

8/15/2026

i

159,344

Vodafone

Group

plc

48,000

3.750%, 

1/16/2024

52,701

Walt

Disney

Company

30,000

1.750%, 

1/13/2026

31,349

Windstream

Services,

LLC

100,000

8.625%, 

10/31/2025

f,i

60,000

Ziggo

BV

100,000

5.500%, 

1/15/2027

i

105,631

Total

7,132,023

Consumer

Cyclical

(1.6%)

1011778

B.C.,

ULC

220,000

4.375%, 

1/15/2028

i

228,829

Allied

Universal

Holdco,

LLC

60,000

6.625%, 

7/15/2026

i

64,200

Allison

Transmission,

Inc.

130,000

5.000%, 

10/1/2024

i

132,503

Amazon.com,

Inc.

29,000

0.800%, 

6/3/2025

29,443

American

Honda

Finance

Corporation

53,000

2.050%, 

1/10/2023

54,938

29,000

1.200%, 

7/8/2025

29,435

BMW

Finance

NV

31,000

2.250%, 

8/12/2022

i

31,953

Booking

Holdings,

Inc.,

Convertible

33,000

0.900%, 

9/15/2021

35,104

Brookfield

Property

REIT,

Inc.

50,000

5.750%, 

5/15/2026

i

41,345

Brookfield

Residential

Properties,

Inc.

175,000

6.250%, 

9/15/2027

i

175,000

Burlington

Stores,

Inc.,

Convertible

106,000

2.250%, 

4/15/2025

i

118,615

Carnival

Corporation

40,000

10.500%, 

2/1/2026

i

41,408

Carnival

Corporation,

Convertible

43,000

5.750%, 

4/1/2023

i

62,363

Cedar

Fair,

LP

80,000

5.250%, 

7/15/2029

75,576

Colt

Merger

Sub,

Inc.

80,000

6.250%, 

7/1/2025

i

83,760

D.R.

Horton,

Inc.

53,000

2.550%, 

12/1/2020

53,362

13,000

2.600%, 

10/15/2025

13,889

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Consumer

Cyclical

(1.6%)

-

continued

Daimler

Finance

North

America,

LLC

$

29,000

2.550%, 

8/15/2022

i

$

29,977

Dana,

Inc.

80,000

5.625%, 

6/15/2028

84,000

Dick's

Sporting

Goods,

Inc.,

Convertible

144,000

3.250%, 

4/15/2025

i

216,675

Ford

Motor

Company

30,000

9.000%, 

4/22/2025

35,344

20,000

9.625%, 

4/22/2030

26,536

Ford

Motor

Credit

Company,

LLC

200,000

4.063%, 

11/1/2024

204,440

210,000

4.134%, 

8/4/2025

215,229

General

Motors

Company

30,000

5.400%, 

10/2/2023

33,080

General

Motors

Financial

Company,

Inc.

57,000

4.375%, 

9/25/2021

58,948

33,000

4.200%, 

11/6/2021

34,132

37,000

3.150%, 

6/30/2022

38,025

63,000

3.950%, 

4/13/2024

67,185

44,000

2.900%, 

2/26/2025

45,528

29,000

2.750%, 

6/20/2025

29,907

Hanesbrands,

Inc.

150,000

4.875%, 

5/15/2026

i

163,500

Harley-Davidson

Financial

Services,

Inc.

48,000

4.050%, 

2/4/2022

i

49,859

Herc

Holdings,

Inc.

50,000

5.500%, 

7/15/2027

i

52,875

Hilton

Domestic

Operating

Company,

Inc.

210,000

4.875%, 

1/15/2030

220,500

Home

Depot,

Inc.

26,000

3.750%, 

2/15/2024

28,856

Hyundai

Capital

America

48,000

3.000%, 

6/20/2022

i

49,190

International

Game

Technology

plc

80,000

5.250%, 

1/15/2029

i

81,743

KB

Home

70,000

4.800%, 

11/15/2029

72,800

Kohl's

Corporation

38,000

9.500%, 

5/15/2025

45,304

Landry's,

Inc.

110,000

6.750%, 

10/15/2024

i

77,000

Lennar

Corporation

55,000

2.950%, 

11/29/2020

54,772

18,000

4.125%, 

1/15/2022

18,428

40,000

4.875%, 

12/15/2023

43,108

215,000

4.500%, 

4/30/2024

232,738

14,000

5.875%, 

11/15/2024

15,870

Live

Nation

Entertainment,

Inc.,

Convertible

177,000

2.500%, 

3/15/2023

184,625

Lowe's

Companies,

Inc.

26,000

4.000%, 

4/15/2025

29,809

Marriott

Vacations

Worldwide

Corporation,

Convertible

26,000

1.500%, 

9/15/2022

24,635

Mattamy

Group

Corporation

190,000

5.250%, 

12/15/2027

i

197,125

McDonald's

Corporation

64,000

3.350%, 

4/1/2023

68,678

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

32

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Consumer

Cyclical

(1.6%)

-

continued

MGM

Resorts

International

$

35,000

6.000%, 

3/15/2023

$

36,575

125,000

5.750%, 

6/15/2025

129,063

Norwegian

Cruise

Line

Holdings,

Ltd.

40,000

10.250%, 

2/1/2026

i

39,850

Penn

National

Gaming,

Inc.,

Convertible

10,000

2.750%, 

5/15/2026

16,506

Prime

Security

Services

Borrower,

LLC

215,000

5.750%, 

4/15/2026

i

238,650

Ralph

Lauren

Corporation

29,000

1.700%, 

6/15/2022

29,612

Royal

Caribbean

Cruises,

Ltd.

40,000

9.125%, 

6/15/2023

i

40,900

Royal

Caribbean

Cruises,

Ltd.,

Convertible

159,000

4.250%, 

6/15/2023

i

150,788

Scientific

Games

International,

Inc.

100,000

5.000%, 

10/15/2025

i

99,125

ServiceMaster

Company,

LLC

150,000

5.125%, 

11/15/2024

i

154,500

Six

Flags

Entertainment

Corporation

60,000

5.500%, 

4/15/2027

i

56,700

Six

Flags

Theme

Parks,

Inc.

40,000

7.000%, 

7/1/2025

i

42,932

Staples,

Inc.

110,000

7.500%, 

4/15/2026

i

96,503

Target

Corporation

26,000

2.250%, 

4/15/2025

27,973

TJX

Companies,

Inc.

25,000

3.500%, 

4/15/2025

27,872

Under

Armour,

Inc.,

Convertible

33,000

1.500%, 

6/1/2024

i

39,373

Volkswagen

Group

of

America

Finance,

LLC

55,000

4.250%, 

11/13/2023

i

60,739

14,000

3.350%, 

5/13/2025

i

15,276

Wyndham

Destinations,

Inc.

50,000

6.625%, 

7/31/2026

i

51,608

Yum!

Brands,

Inc.

140,000

4.750%, 

1/15/2030

i

151,900

Total

5,608,589

Consumer

Non-Cyclical

(1.8%)

Abbott

Laboratories

40,000

3.400%, 

11/30/2023

43,669

AbbVie,

Inc.

38,000

2.900%, 

11/6/2022

39,973

62,000

2.300%, 

11/21/2022

i

64,330

36,000

2.800%, 

3/15/2023

i

37,513

119,000

3.600%, 

5/14/2025

133,237

Albertson's

Companies,

Inc.

130,000

6.625%, 

6/15/2024

135,278

40,000

4.875%, 

2/15/2030

i

43,320

Altria

Group,

Inc.

32,000

3.800%, 

2/14/2024

35,172

32,000

4.400%, 

2/14/2026

37,217

Amgen,

Inc.

39,000

1.900%, 

2/21/2025

41,029

Anheuser-Busch

Companies,

LLC

32,000

3.650%, 

2/1/2026

36,419

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Consumer

Non-Cyclical

(1.8%)

-

continued

Anheuser-Busch

InBev

Worldwide,

Inc.

$

51,000

4.150%, 

1/23/2025

$

58,271

Anthem,

Inc.

39,000

2.375%, 

1/15/2025

41,724

Aramark

Services,

Inc.

80,000

6.375%, 

5/1/2025

i

84,506

BAT

Capital

Corporation

38,000

2.764%, 

8/15/2022

39,500

51,000

3.222%, 

8/15/2024

55,061

Bausch

Health

Companies,

Inc.

100,000

7.000%, 

1/15/2028

i

108,750

30,000

5.000%, 

1/30/2028

i

30,149

Bayer

U.S.

Finance

II,

LLC

64,000

3.500%, 

6/25/2021

i

65,545

Boston

Scientific

Corporation

64,000

3.450%, 

3/1/2024

69,834

Bristol-Myers

Squibb

Company

51,000

3.625%, 

5/15/2024

56,495

Bunge,

Ltd.

Finance

Corporation

60,000

3.500%, 

11/24/2020

60,420

Cardtronics,

Inc.,

Convertible

187,000

1.000%, 

12/1/2020

185,426

Cargill,

Inc.

15,000

1.375%, 

7/23/2023

i

15,368

Centene

Corporation

200,000

4.750%, 

1/15/2025

207,264

40,000

5.375%, 

8/15/2026

i

42,800

30,000

4.250%, 

12/15/2027

31,875

80,000

4.625%, 

12/15/2029

89,221

Cigna

Corporation

69,000

4.125%, 

11/15/2025

79,938

Conagra

Brands,

Inc.

34,000

3.800%, 

10/22/2021

35,356

34,000

4.300%, 

5/1/2024

38,031

Constellation

Brands,

Inc.

64,000

4.250%, 

5/1/2023

70,394

CVS

Health

Corporation

38,000

2.750%, 

12/1/2022

39,779

111,000

3.700%, 

3/9/2023

119,456

64,000

4.100%, 

3/25/2025

72,736

DaVita,

Inc.

90,000

4.625%, 

6/1/2030

i

95,764

Diageo

Capital

plc

35,000

1.375%, 

9/29/2025

36,180

Edgewell

Personal

Care

Company

40,000

5.500%, 

6/1/2028

i

43,300

Encompass

Health

Corporation

110,000

4.500%, 

2/1/2028

114,950

Energizer

Holdings,

Inc.

130,000

6.375%, 

7/15/2026

i

138,571

General

Mills,

Inc.

32,000

3.700%, 

10/17/2023

35,103

32,000

3.650%, 

2/15/2024

35,151

HCA,

Inc.

290,000

5.375%, 

2/1/2025

326,975

Illumina,

Inc.,

Convertible

20,000

0.500%, 

6/15/2021

30,645

Imperial

Brands

Finance

plc

36,000

3.125%, 

7/26/2024

i

38,232

Ionis

Pharmaceuticals,

Inc.,

Convertible

52,000

0.125%, 

12/15/2024

i

50,980

JBS

Investments

II

GmbH

70,000

5.750%, 

1/15/2028

i

74,326

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

33

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Consumer

Non-Cyclical

(1.8%)

-

continued

JBS

USA,

LLC

$

50,000

5.750%, 

6/15/2025

i

$

51,312

130,000

5.500%, 

1/15/2030

i

143,325

Kellogg

Company

70,000

3.125%, 

5/17/2022

73,064

Keurig

Dr

Pepper,

Inc.

74,000

3.551%, 

5/25/2021

75,855

Kraft

Foods

Group,

Inc.

100,000

5.000%, 

6/4/2042

111,906

Kraft

Heinz

Foods

Company

100,000

4.625%, 

1/30/2029

113,917

160,000

3.750%, 

4/1/2030

i

173,372

Kroger

Company

37,000

2.800%, 

8/1/2022

38,646

Medtronic,

Inc.

12,000

3.500%, 

3/15/2025

13,562

Molina

Healthcare,

Inc.

70,000

4.375%, 

6/15/2028

i

74,377

Mondelez

International

Holdings

Netherlands

BV

55,000

2.000%, 

10/28/2021

i

55,953

Mylan

NV

37,000

3.150%, 

6/15/2021

37,760

Mylan,

Inc.

36,000

4.200%, 

11/29/2023

39,585

Novartis

Capital

Corporation

30,000

1.750%, 

2/14/2025

31,619

Par

Pharmaceutical,

Inc.

100,000

7.500%, 

4/1/2027

i

106,363

PepsiCo,

Inc.

39,000

2.250%, 

3/19/2025

42,009

Pernod

Ricard

SA

30,000

5.750%, 

4/7/2021

i

31,080

Philip

Morris

International,

Inc.

17,000

1.500%, 

5/1/2025

17,584

Post

Holdings,

Inc.

60,000

5.750%, 

3/1/2027

i

63,900

QBE

Insurance

Group,

Ltd.

72,000

5.875%, 

5/12/2025

b,i,l

75,420

Reynolds

American,

Inc.

32,000

4.850%, 

9/15/2023

35,920

Scotts

Miracle-Gro

Company

120,000

4.500%, 

10/15/2029

127,050

Shire

Acquisitions

Investments

Ireland

Designated

Activity

Company

74,000

2.400%, 

9/23/2021

75,477

Simmons

Foods,

Inc.

80,000

5.750%, 

11/1/2024

i

80,400

Spectrum

Brands,

Inc.

30,000

5.750%, 

7/15/2025

30,900

50,000

5.000%, 

10/1/2029

i

51,500

30,000

5.500%, 

7/15/2030

i

31,125

Sysco

Corporation

55,000

5.650%, 

4/1/2025

65,149

Teleflex,

Inc.

170,000

4.625%, 

11/15/2027

183,816

Tenet

Healthcare

Corporation

50,000

4.625%, 

7/15/2024

51,125

160,000

5.125%, 

11/1/2027

i

170,000

Teva

Pharmaceutical

Finance

Netherlands

III

BV

15,000

2.200%, 

7/21/2021

14,888

90,000

2.800%, 

7/21/2023

87,282

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Consumer

Non-Cyclical

(1.8%)

-

continued

Thermo

Fisher

Scientific,

Inc.

$

26,000

4.133%, 

3/25/2025

$

29,944

UnitedHealth

Group,

Inc.

60,000

3.350%, 

7/15/2022

63,617

Upjohn,

Inc.

29,000

1.650%, 

6/22/2025

i

29,823

VRX

Escrow

Corporation

330,000

6.125%, 

4/15/2025

i

340,725

Zoetis,

Inc.

55,000

3.450%, 

11/13/2020

55,331

54,000

3.250%, 

2/1/2023

57,323

Total

6,317,237

Energy

(1.4%)

Antero

Resources

Corporation

60,000

5.000%, 

3/1/2025

38,025

Apache

Corporation

60,000

4.375%, 

10/15/2028

59,925

50,000

5.100%, 

9/1/2040

48,625

Archrock

Partners,

LP

60,000

6.250%, 

4/1/2028

i

60,600

BP

Capital

Markets

America,

Inc.

152,000

2.520%, 

9/19/2022

157,932

15,000

2.937%, 

4/6/2023

15,919

BP

Capital

Markets

plc

72,000

4.875%, 

3/22/2030

b,l

77,220

Buckeye

Partners,

LP

70,000

4.125%, 

3/1/2025

i

70,350

60,000

3.950%, 

12/1/2026

59,550

10,000

4.125%, 

12/1/2027

9,750

Canadian

Natural

Resources,

Ltd.

38,000

2.950%, 

1/15/2023

39,556

29,000

2.050%, 

7/15/2025

29,649

Canadian

Oil

Sands,

Ltd.

37,000

9.400%, 

9/1/2021

i

39,363

Cheniere

Energy

Partners,

LP

185,000

5.625%, 

10/1/2026

195,406

Chesapeake

Energy

Corporation

65,000

11.500%, 

1/1/2025

i,o,p

6,012

Chevron

Corporation

14,000

1.141%, 

5/11/2023

14,314

29,000

1.554%, 

5/11/2025

30,222

Comstock

Resources,

Inc.

40,000

9.750%, 

8/15/2026

39,987

Continental

Resources,

Inc.

71,000

5.000%, 

9/15/2022

71,000

46,000

4.500%, 

4/15/2023

45,947

DCP

Midstream

Operating,

LP

60,000

5.625%, 

7/15/2027

62,250

Diamondback

Energy,

Inc.

31,000

2.875%, 

12/1/2024

31,506

Enagas

SA

175,000

5.500%, 

1/15/2028

i

155,729

Enbridge,

Inc.

38,000

2.900%, 

7/15/2022

39,542

244,000

6.250%, 

3/1/2078

b

241,560

Endeavor

Energy

Resources,

LP

20,000

5.500%, 

1/30/2026

i

20,100

70,000

5.750%, 

1/30/2028

i

71,838

Energy

Transfer

Operating,

LP

37,000

4.200%, 

9/15/2023

39,078

64,000

5.875%, 

1/15/2024

70,514

74,000

6.625%, 

2/15/2028

b,l

53,280

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

34

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Energy

(1.4%)

-

continued

EnLink

Midstream

Partners,

LP

$

60,000

4.850%, 

7/15/2026

$

46,508

40,000

5.600%, 

4/1/2044

22,200

Enterprise

Products

Operating,

LLC

190,000

4.875%, 

8/16/2077

b

168,625

EOG

Resources,

Inc.

60,000

2.625%, 

3/15/2023

63,134

EQM

Midstream

Partners

LP

70,000

6.500%, 

7/1/2027

i

77,182

EQM

Midstream

Partners,

LP

30,000

5.500%, 

7/15/2028

31,104

EQT

Corporation

100,000

3.900%, 

10/1/2027

94,230

EQT

Corporation,

Convertible

98,000

1.750%, 

5/1/2026

i

117,986

Equinor

ASA

25,000

2.875%, 

4/6/2025

27,352

Exxon

Mobil

Corporation

20,000

1.571%, 

4/15/2023

20,641

27,000

2.992%, 

3/19/2025

29,703

Hess

Corporation

37,000

3.500%, 

7/15/2024

37,621

Kinder

Morgan

Energy

Partners,

LP

76,000

3.450%, 

2/15/2023

80,126

Marathon

Petroleum

Corporation

32,000

4.750%, 

12/15/2023

35,324

MPLX,

LP

57,000

4.500%, 

7/15/2023

61,582

Murphy

Oil

Corporation

50,000

5.875%, 

12/1/2027

46,000

Nabors

Industries,

Inc.

100,000

5.750%, 

2/1/2025

39,500

Nabors

Industries,

Ltd.

70,000

7.250%, 

1/15/2026

i

44,209

National

Fuel

Gas

Company

17,000

5.500%, 

1/15/2026

18,379

Newfield

Exploration

Company

39,000

5.625%, 

7/1/2024

38,963

Noble

Energy,

Inc.

46,000

3.900%, 

11/15/2024

51,218

Occidental

Petroleum

Corporation

60,000

2.700%, 

8/15/2022

57,923

120,000

2.900%, 

8/15/2024

112,914

40,000

3.400%, 

4/15/2026

36,200

40,000

8.500%, 

7/15/2027

44,544

70,000

3.500%, 

8/15/2029

62,214

40,000

6.450%, 

9/15/2036

40,008

100,000

4.400%, 

4/15/2046

81,470

ONEOK,

Inc.

13,000

2.200%, 

9/15/2025

12,777

Parsley

Energy,

LLC

100,000

5.625%, 

10/15/2027

i

104,750

PDC

Energy,

Inc.,

Convertible

3,000

1.125%, 

9/15/2021

2,851

Pioneer

Natural

Resources

Company,

Convertible

23,000

0.250%, 

5/15/2025

i

27,186

Plains

All

American

Pipeline,

LP

83,000

5.000%, 

2/1/2021

83,617

155,000

6.125%, 

11/15/2022

b,l

108,306

12,000

2.850%, 

1/31/2023

12,165

13,000

3.600%, 

11/1/2024

13,407

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Energy

(1.4%)

-

continued

QEP

Resources,

Inc.

$

40,000

5.625%, 

3/1/2026

$

23,300

Sabine

Pass

Liquefaction,

LLC

38,000

6.250%, 

3/15/2022

40,657

38,000

5.625%, 

4/15/2023

41,875

Shell

International

Finance

BV

25,000

2.375%, 

4/6/2025

26,835

Southwestern

Energy

Company

105,000

7.500%, 

4/1/2026

98,516

Suncor

Energy,

Inc.

29,000

3.100%, 

5/15/2025

31,561

Sunoco

Logistics

Partners

Operations,

LP

60,000

4.400%, 

4/1/2021

61,169

Sunoco,

LP

70,000

5.875%, 

3/15/2028

73,150

Targa

Resources

Partners,

LP

130,000

5.375%, 

2/1/2027

134,312

20,000

5.000%, 

1/15/2028

20,400

Transocean

Guardian,

Ltd.

54,601

5.875%, 

1/15/2024

i

48,186

W&T

Offshore,

Inc.

110,000

9.750%, 

11/1/2023

i

73,330

Western

Gas

Partners,

LP

38,000

4.000%, 

7/1/2022

39,215

Western

Midstream

Operating,

LP

30,000

5.250%, 

2/1/2050

29,625

70,000

3.100%, 

2/1/2025

69,832

60,000

3.950%, 

6/1/2025

59,700

Williams

Partners,

LP

77,000

4.000%, 

11/15/2021

79,660

42,000

4.500%, 

11/15/2023

46,046

WPX

Energy,

Inc.

45,000

5.750%, 

6/1/2026

45,900

60,000

5.250%, 

10/15/2027

59,175

Total

4,949,112

Financials

(4.5%)

ACE

INA

Holdings,

Inc.

60,000

2.875%, 

11/3/2022

63,121

AerCap

Ireland

Capital,

Ltd.

29,000

3.500%, 

1/15/2025

27,751

Air

Lease

Corporation

73,000

2.500%, 

3/1/2021

73,232

Aircastle,

Ltd.

46,000

5.000%, 

4/1/2023

46,110

American

Express

Company

36,000

3.700%, 

8/3/2023

39,231

32,000

3.400%, 

2/22/2024

35,044

American

International

Group,

Inc.

14,000

2.500%, 

6/30/2025

14,971

Ares

Capital

Corporation,

Convertible

54,000

4.625%, 

3/1/2024

55,048

Athene

Global

Funding

53,000

4.000%, 

1/25/2022

i

55,165

Australia

and

New

Zealand

Banking

Group,

Ltd.

52,000

2.950%, 

7/22/2030

b,i

53,942

Aviation

Capital

Group,

LLC

26,000

5.500%, 

12/15/2024

i

26,630

Avolon

Holdings

Funding,

Ltd.

16,000

5.250%, 

5/15/2024

i

14,931

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

35

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Financials

(4.5%)

-

continued

BAC

Capital

Trust

XIV

$

84,000

4.000%, 

(LIBOR

3M

+

0.400%),

8/19/2020

b,l

$

77,742

Banco

Santander

Mexico

SA

14,000

5.375%, 

4/17/2025

i

15,520

Bank

of

America

Corporation

74,000

3.499%, 

5/17/2022

b

75,732

50,000

3.004%, 

12/20/2023

b

52,703

103,000

3.550%, 

3/5/2024

b

110,374

150,000

5.125%, 

6/20/2024

b,l

154,699

129,000

3.864%, 

7/23/2024

b

140,850

64,000

4.200%, 

8/26/2024

71,744

324,000

6.250%, 

9/5/2024

b,l

352,095

32,000

3.458%, 

3/15/2025

b

34,969

72,000

1.319%, 

6/19/2026

b

72,911

144,000

5.875%, 

3/15/2028

b,l

153,360

Bank

of

Montreal

96,000

3.300%, 

2/5/2024

104,825

Bank

of

New

York

Mellon

Corporation

46,000

2.600%, 

2/7/2022

47,567

15,000

1.600%, 

4/24/2025

15,662

36,000

4.700%, 

9/20/2025

b,l

38,980

Bank

of

Nova

Scotia

71,000

2.375%, 

1/18/2023

74,326

29,000

1.950%, 

2/1/2023

30,014

108,000

4.900%, 

6/4/2025

b,l

110,955

Barclays

plc

59,000

4.610%, 

2/15/2023

b

62,205

74,000

4.338%, 

5/16/2024

b

80,252

67,000

8.000%, 

6/15/2024

b,l

70,936

35,000

2.852%, 

5/7/2026

b

37,099

BB&T

Corporation

36,000

2.500%, 

8/1/2024

38,554

Blackstone

Mortgage

Trust,

Inc.,

Convertible

56,000

4.375%, 

5/5/2022

53,480

BNP

Paribas

SA

72,000

7.625%, 

3/30/2021

b,i,l

73,638

35,000

2.819%, 

11/19/2025

b,i

37,176

BPCE

SA

32,000

3.000%, 

5/22/2022

i

33,180

29,000

2.375%, 

1/14/2025

i

30,377

Camden

Property

Trust

32,000

4.875%, 

6/15/2023

35,188

Canadian

Imperial

Bank

of

Commerce

29,000

2.250%, 

1/28/2025

30,700

Capital

One

Bank

USA

NA

48,000

3.375%, 

2/15/2023

50,791

44,000

2.280%, 

1/28/2026

b

45,768

Capital

One

Financial

Corporation

111,000

3.050%, 

3/9/2022

115,167

Cascades

USA,

Inc.

110,000

5.125%, 

1/15/2026

i

113,575

Central

Fidelity

Capital

Trust

I

125,000

1.275%, 

(LIBOR

3M

+

1.000%),

4/15/2027

b

113,200

Charles

Schwab

Corporation

288,000

5.375%, 

6/1/2025

b,l

315,360

CIT

Group,

Inc.

125,000

4.750%, 

2/16/2024

129,375

Citigroup,

Inc.

38,000

2.750%, 

4/25/2022

39,430

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Financials

(4.5%)

-

continued

$

37,000

0.935%, 

(LIBOR

3M

+

0.690%),

10/27/2022

b

$

37,186

125,000

2.312%, 

11/4/2022

b

127,679

73,000

3.142%, 

1/24/2023

b

75,574

168,000

5.000%, 

9/12/2024

b,l

168,420

234,000

4.700%, 

1/30/2025

b,l

227,858

96,000

3.352%, 

4/24/2025

b

104,501

84,000

5.950%, 

5/15/2025

b,l

89,670

28,000

5.500%, 

9/13/2025

33,390

CNA

Financial

Corporation

32,000

5.750%, 

8/15/2021

33,725

38,000

3.950%, 

5/15/2024

41,844

Comerica,

Inc.

36,000

5.625%, 

7/1/2025

b,l

38,441

Cooperatieve

Centrale

Raiffeisen-

Boerenleenbank

BA

74,000

3.950%, 

11/9/2022

78,823

Cooperatieve

Rabobank

UA

29,000

1.339%, 

6/24/2026

b,i

29,461

Credit

Acceptance

Corporation

60,000

5.125%, 

12/31/2024

i

61,080

Credit

Agricole

SA

38,000

3.375%, 

1/10/2022

i

39,414

72,000

8.125%, 

12/23/2025

b,i,l

83,880

29,000

1.907%, 

6/16/2026

b,i

29,843

Credit

Suisse

Group

AG

126,000

7.500%, 

12/11/2023

b,i,l

138,128

31,000

2.593%, 

9/11/2025

b,i

32,438

Credit

Suisse

Group

Funding

(Guernsey),

Ltd.

114,000

3.800%, 

9/15/2022

121,165

Dai-ichi

Life

Insurance

Company,

Ltd.

216,000

5.100%, 

10/28/2024

b,i,l

242,460

Danske

Bank

AS

56,000

5.000%, 

1/12/2023

b,i

58,769

Deutsche

Bank

AG

114,000

4.250%, 

10/14/2021

117,695

Deutsche

Bank

AG

of

New

York

31,000

3.950%, 

2/27/2023

32,621

Digital

Realty

Trust,

LP

55,000

2.750%, 

2/1/2023

57,785

Discover

Bank

36,000

4.200%, 

8/8/2023

39,683

47,000

2.450%, 

9/12/2024

49,858

ESH

Hospitality,

Inc.

60,000

5.250%, 

5/1/2025

i

61,289

30,000

4.625%, 

10/1/2027

i

28,869

Fidelity

National

Financial,

Inc.

52,000

5.500%, 

9/1/2022

56,059

Fifth

Third

Bancorp

57,000

2.600%, 

6/15/2022

59,094

32,000

3.650%, 

1/25/2024

35,115

72,000

4.500%, 

9/30/2025

b,l

73,260

First

Horizon

National

Corporation

34,000

3.550%, 

5/26/2023

35,651

FNB

Corporation

53,000

2.200%, 

2/24/2023

52,971

FTI

Consulting,

Inc.,

Convertible

239,000

2.000%, 

8/15/2023

316,436

General

Electric

Capital

Corporation

62,000

3.100%, 

1/9/2023

65,383

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

36

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Financials

(4.5%)

-

continued

Goldman

Sachs

Group,

Inc.

$

159,000

4.370%, 

(LIBOR

3M

+

3.922%),

9/3/2020

b,l

$

154,429

55,000

1.562%, 

(LIBOR

3M

+

1.170%),

11/15/2021

b

55,157

76,000

3.000%, 

4/26/2022

77,387

51,000

2.876%, 

10/31/2022

b

52,362

37,000

1.377%, 

(LIBOR

3M

+

1.050%),

6/5/2023

b

37,238

64,000

3.625%, 

2/20/2024

70,073

190,000

5.500%, 

8/10/2024

b,l

204,013

25,000

3.500%, 

4/1/2025

27,697

45,000

3.272%, 

9/29/2025

b

49,103

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Convertible

101,000

4.125%, 

9/1/2022

136,377

Hartford

Financial

Services

Group,

Inc.

59,000

2.517%, 

(LIBOR

3M

+

2.125%),

2/12/2047

b,i

47,200

HCP,

Inc.

30,000

4.250%, 

11/15/2023

32,872

Hospitality

Properties

Trust

55,000

4.250%, 

2/15/2021

54,038

HSBC

Holdings

plc

76,000

6.875%, 

6/1/2021

b,l

77,480

59,000

3.803%, 

3/11/2025

b

63,897

124,000

6.375%, 

3/30/2025

b,l

124,387

36,000

2.633%, 

11/7/2025

b

37,664

84,000

6.500%, 

3/23/2028

b,l

84,840

Huntington

Bancshares,

Inc.

30,000

3.150%, 

3/14/2021

30,441

Icahn

Enterprises,

LP

75,000

6.750%, 

2/1/2024

77,250

40,000

6.375%, 

12/15/2025

41,600

40,000

6.250%, 

5/15/2026

42,271

ILFC

E-Capital

Trust

II

126,000

3.270%, 

(H15T30Y

+

1.800%),

12/21/2065

b,i

66,780

ING

Groep

NV

64,000

4.100%, 

10/2/2023

70,529

International

Lease

Finance

Corporation

76,000

5.875%, 

8/15/2022

82,060

Iron

Mountain,

Inc.

50,000

4.875%, 

9/15/2027

i

51,938

iStar,

Inc.,

Convertible

29,000

3.125%, 

9/15/2022

30,141

J.P.

Morgan

Chase

&

Company

89,000

2.776%, 

4/25/2023

b

92,426

64,000

3.375%, 

5/1/2023

68,566

180,000

5.150%, 

5/1/2023

b,l

180,288

78,000

1.494%, 

(LIBOR

3M

+

1.230%),

10/24/2023

b

79,200

72,000

6.750%, 

2/1/2024

b,l

79,800

270,000

5.000%, 

8/1/2024

b,l

271,688

64,000

3.875%, 

9/10/2024

71,528

133,000

4.023%, 

12/5/2024

b

147,129

234,000

4.600%, 

2/1/2025

b,l

226,418

20,000

2.083%, 

4/22/2026

b

20,970

Liberty

Mutual

Group,

Inc.

27,000

5.000%, 

6/1/2021

i

27,979

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Financials

(4.5%)

-

continued

Lincoln

National

Corporation

$

40,000

2.743%, 

(LIBOR

3M

+

2.358%),

5/17/2066

b

$

28,000

Lloyds

Banking

Group

plc

61,000

3.000%, 

1/11/2022

63,136

47,000

2.858%, 

3/17/2023

b

48,567

60,000

3.900%, 

3/12/2024

66,344

72,000

7.500%, 

6/27/2024

b,l

75,960

142,000

6.657%, 

5/21/2037

b,i,l

161,880

MetLife,

Inc.

140,000

5.875%, 

3/15/2028

b,l

153,300

MGIC

Investment

Corporation,

Convertible

358,000

9.000%, 

4/1/2063

i

436,723

MGM

Growth

Properties

Operating

Partnership,

LP

40,000

4.625%, 

6/15/2025

i

42,050

Mitsubishi

UFJ

Financial

Group,

Inc.

38,000

2.998%, 

2/22/2022

39,456

54,000

2.623%, 

7/18/2022

56,093

73,000

3.455%, 

3/2/2023

78,107

32,000

3.407%, 

3/7/2024

34,814

35,000

1.412%, 

7/17/2025

35,804

Mizuho

Financial

Group,

Inc.

54,000

2.721%, 

7/16/2023

b

56,066

Morgan

Stanley

74,000

5.500%, 

7/28/2021

77,684

37,000

2.750%, 

5/19/2022

38,495

40,000

4.875%, 

11/1/2022

43,605

74,000

3.125%, 

1/23/2023

78,677

61,000

4.100%, 

5/22/2023

66,314

32,000

2.720%, 

7/22/2025

b

34,210

20,000

2.188%, 

4/28/2026

b

21,071

MPT

Operating

Partnership,

LP

100,000

5.250%, 

8/1/2026

105,000

120,000

4.625%, 

8/1/2029

126,787

National

Australia

Bank,

Ltd.

44,000

1.875%, 

12/13/2022

45,488

National

Bank

of

Canada

44,000

2.100%, 

2/1/2023

45,657

National

Securities

Clearing

Corporation

15,000

1.200%, 

4/23/2023

i

15,300

Nippon

Life

Insurance

Company

117,000

3.400%, 

1/23/2050

b,i

124,605

Nomura

Holdings,

Inc.

35,000

2.648%, 

1/16/2025

36,774

Nordea

Bank

Abp

200,000

6.625%, 

3/26/2026

b,i,l

216,750

Outfront

Media

Cap,

LLC

110,000

4.625%, 

3/15/2030

i

102,850

Park

Aerospace

Holdings,

Ltd.

16,000

4.500%, 

3/15/2023

i

15,114

PayPal

Holdings,

Inc.

29,000

1.650%, 

6/1/2025

30,228

PNC

Financial

Services

Group,

Inc.

32,000

3.500%, 

1/23/2024

35,125

Provident

Financing

Trust

I

36,000

7.405%, 

3/15/2038

40,545

Prudential

Financial,

Inc.

210,000

5.625%, 

6/15/2043

b

227,415

170,000

5.200%, 

3/15/2044

b

179,584

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

37

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Financials

(4.5%)

-

continued

Quicken

Loans,

Inc.

$

105,000

5.750%, 

5/1/2025

i

$

108,248

Regions

Financial

Corporation

37,000

3.800%, 

8/14/2023

40,382

72,000

5.750%, 

6/15/2025

b,l

76,680

Reinsurance

Group

of

America,

Inc.

56,000

4.700%, 

9/15/2023

61,839

Royal

Bank

of

Canada

20,000

1.600%, 

4/17/2023

20,626

29,000

2.250%, 

11/1/2024

30,921

Royal

Bank

of

Scotland

Group

plc

190,000

8.625%, 

8/15/2021

b,l

198,510

32,000

6.125%, 

12/15/2022

35,058

32,000

6.100%, 

6/10/2023

35,403

81,000

4.269%, 

3/22/2025

b

89,186

23,000

3.754%, 

11/1/2029

b

24,084

Santander

Holdings

USA,

Inc.

28,000

3.450%, 

6/2/2025

29,960

Santander

UK

Group

Holdings

plc

76,000

2.875%, 

8/5/2021

77,795

Santander

UK

plc

44,000

2.100%, 

1/13/2023

45,598

Service

Properties

Trust

50,000

4.500%, 

6/15/2023

47,500

30,000

4.750%, 

10/1/2026

26,400

Simon

Property

Group,

LP

30,000

2.500%, 

7/15/2021

30,426

36,000

2.000%, 

9/13/2024

37,175

Societe

Generale

SA

36,000

2.625%, 

10/16/2024

i

37,472

72,000

8.000%, 

9/29/2025

b,i,l

80,820

Springleaf

Finance

Corporation

160,000

6.875%, 

3/15/2025

178,800

Standard

Chartered

plc

48,000

2.744%, 

9/10/2022

b,i

48,575

Starwood

Property

Trust,

Inc.,

Convertible

40,000

4.375%, 

4/1/2023

38,485

State

Street

Corporation

25,000

2.825%, 

3/30/2023

b,i

25,948

28,000

2.354%, 

11/1/2025

b

30,024

Sumitomo

Mitsui

Financial

Group,

Inc.

37,000

2.784%, 

7/12/2022

38,577

128,000

2.778%, 

10/18/2022

134,364

36,000

2.448%, 

9/27/2024

38,080

Synchrony

Financial

36,000

2.850%, 

7/25/2022

36,819

34,000

4.250%, 

8/15/2024

36,112

Toronto-Dominion

Bank

32,000

3.250%, 

3/11/2024

35,074

Truist

Bank

39,000

1.500%, 

3/10/2025

40,438

Truist

Financial

Corporation

162,000

4.950%, 

9/1/2025

b,l

172,935

UBS

Group

AG

35,000

1.364%, 

1/30/2027

b,i

35,315

USB

Realty

Corporation

168,000

1.422%, 

(LIBOR

3M

+

1.147%),

1/15/2022

b,i,l

133,980

Ventas

Realty,

LP

37,000

3.100%, 

1/15/2023

38,222

32,000

3.750%, 

5/1/2024

33,750

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Financials

(4.5%)

-

continued

VEREIT

Operating

Partnership,

LP

$

29,000

4.625%, 

11/1/2025

$

31,860

VICI

Properties,

LP

/

VICI

Note

Company,

Inc.

40,000

4.250%, 

12/1/2026

i

41,200

20,000

3.750%, 

2/15/2027

i

20,150

40,000

4.625%, 

12/1/2029

i

42,100

20,000

4.125%, 

8/15/2030

i

20,240

Wachovia

Capital

Trust

II

40,000

0.775%, 

(LIBOR

3M

+

0.500%),

1/15/2027

b

35,800

Wells

Fargo

&

Company

45,000

2.100%, 

7/26/2021

45,766

37,000

2.625%, 

7/22/2022

38,491

64,000

4.125%, 

8/15/2023

69,945

50,000

1.491%, 

(LIBOR

3M

+

1.230%),

10/31/2023

b

50,543

34,000

3.750%, 

1/24/2024

37,270

44,000

1.654%, 

6/2/2024

b

44,851

63,000

2.406%, 

10/30/2025

b

66,259

15,000

2.188%, 

4/30/2026

b

15,656

Westpac

Banking

Corporation

29,000

2.000%, 

1/13/2023

30,089

29,000

2.894%, 

2/4/2030

b

29,962

Total

15,799,730

Foreign

Government

(<0.1%)

Sinopec

Group

Overseas

Development

2018,

Ltd.

35,000

2.150%, 

5/13/2025

i

36,409

Total

36,409

Mortgage-Backed

Securities

(2.4%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

730,123

3.000%, 

3/25/2050

773,158

206,992

3.000%, 

4/1/2050

219,192

123,318

3.500%, 

7/1/2047

130,465

Federal

National

Mortgage

Association

238,454

4.500%, 

5/1/2048

256,541

369,620

3.500%, 

10/1/2048

390,313

77,847

3.500%, 

6/1/2049

82,312

417,456

3.500%, 

8/1/2049

441,849

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

800,000

2.000%, 

8/1/2035

e

832,125

600,000

2.500%, 

8/1/2035

e

629,719

595,000

2.000%, 

9/1/2035

e

618,056

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

1,235,000

2.500%, 

8/1/2050

e

1,297,377

1,025,000

2.000%, 

9/1/2050

e

1,059,955

750,000

3.000%, 

9/1/2043

e

791,691

735,012

4.000%, 

7/1/2048

780,287

Total

8,303,040

Technology

(1.5%)

Akamai

Technologies,

Inc.,

Convertible

531,000

0.375%, 

9/1/2027

i

609,328

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

38

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Technology

(1.5%)

-

continued

Apple,

Inc.

$

112,000

3.450%, 

5/6/2024

$

124,207

29,000

1.125%, 

5/11/2025

29,796

Baidu,

Inc.

20,000

3.075%, 

4/7/2025

21,353

Broadcom

Corporation

121,000

2.650%, 

1/15/2023

126,047

44,000

3.125%, 

1/15/2025

47,292

Broadcom,

Inc.

12,000

2.250%, 

11/15/2023

i

12,491

CommScope

Technologies

Finance,

LLC

190,000

6.000%, 

6/15/2025

i

194,123

Dell

International,

LLC/

EMC

Corporation

48,000

4.000%, 

7/15/2024

i

52,039

10,000

5.850%, 

7/15/2025

i

11,652

Diamond

1

Finance

Corporation

108,000

5.450%, 

6/15/2023

i

119,006

Diamond

Sports

Group,

LLC

60,000

5.375%, 

8/15/2026

i

46,204

110,000

6.625%, 

8/15/2027

i

60,225

Fiserv,

Inc.

70,000

2.750%, 

7/1/2024

75,556

Gartner,

Inc.

40,000

4.500%, 

7/1/2028

i

42,000

Global

Payments,

Inc.

18,000

2.650%, 

2/15/2025

19,277

Harland

Clarke

Holdings

Corporation

85,000

8.375%, 

8/15/2022

i

69,488

Hewlett

Packard

Enterprise

Company

36,000

2.250%, 

4/1/2023

37,235

15,000

4.450%, 

10/2/2023

16,463

Intuit,

Inc.

29,000

0.950%, 

7/15/2025

29,358

Iron

Mountain,

Inc.

130,000

5.000%, 

7/15/2028

i

134,550

J2

Global,

Inc.,

Convertible

137,000

3.250%, 

6/15/2029

142,912

Lumentum

Holdings,

Inc.,

Convertible

111,000

0.250%, 

3/15/2024

180,980

20,000

0.500%, 

12/15/2026

i

23,358

Marvell

Technology

Group,

Ltd.

37,000

4.200%, 

6/22/2023

40,040

Microchip

Technology,

Inc.,

Convertible

105,000

1.625%, 

2/15/2027

153,174

Micron

Technology,

Inc.

10,000

2.497%, 

4/24/2023

10,439

NCR

Corporation

160,000

6.125%, 

9/1/2029

i

175,272

Nuance

Communications,

Inc.,

Convertible

786,000

1.250%, 

4/1/2025

1,176,747

NXP

BV/NXP

Funding,

LLC

48,000

4.875%, 

3/1/2024

i

53,994

NXP

Funding,

LLC

14,000

2.700%, 

5/1/2025

i

15,002

ON

Semiconductor

Corporation,

Convertible

43,000

1.000%, 

12/1/2020

50,855

228,000

1.625%, 

10/15/2023

284,957

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Technology

(1.5%)

-

continued

Open

Text

Corporation

$

90,000

4.125%, 

2/15/2030

i

$

94,500

Oracle

Corporation

20,000

2.500%, 

5/15/2022

20,690

37,000

2.500%, 

4/1/2025

40,002

Panasonic

Corporation

54,000

2.536%, 

7/19/2022

i

55,715

Plantronics,

Inc.

120,000

5.500%, 

5/31/2023

i

113,424

PTC,

Inc.

30,000

3.625%, 

2/15/2025

i

31,103

Seagate

HDD

Cayman

31,000

4.250%, 

3/1/2022

32,214

29,000

4.750%, 

1/1/2025

31,500

SS&C

Technologies,

Inc.

150,000

5.500%, 

9/30/2027

i

161,250

Tencent

Holdings,

Ltd.

35,000

1.810%, 

1/26/2026

i

35,717

Teradyne,

Inc.,

Convertible

79,000

1.250%, 

12/15/2023

223,748

Texas

Instruments,

Inc.

38,000

1.375%, 

3/12/2025

39,520

Total

System

Services,

Inc.

29,000

3.750%, 

6/1/2023

31,235

Verint

Systems,

Inc.,

Convertible

143,000

1.500%, 

6/1/2021

143,095

Vishay

Intertechnology,

Inc.,

Convertible

145,000

2.250%, 

6/15/2025

139,028

Total

5,378,161

Transportation

(0.4%)

AerCap

Holdings

NV

150,000

5.875%, 

10/10/2079

b

115,021

Air

Canada

Pass

Through

Trust

13,252

3.875%, 

3/15/2023

i

11,273

Air

Lease

Corporation

29,000

2.300%, 

2/1/2025

27,809

29,000

3.375%, 

7/1/2025

29,491

CSX

Corporation

32,000

3.700%, 

11/1/2023

35,259

Delta

Air

Lines,

Inc.

29,000

2.900%, 

10/28/2024

25,161

90,000

7.000%, 

5/1/2025

i

96,188

J.B.

Hunt

Transport

Services,

Inc.

60,000

3.300%, 

8/15/2022

62,826

Meritor,

Inc.,

Convertible

236,000

3.250%, 

10/15/2037

243,227

Mileage

Plus

Holdings,

LLC

60,000

6.500%, 

6/20/2027

i

62,100

NCL

Corporation,

Ltd.

50,000

3.625%, 

12/15/2024

i

33,045

Penske

Truck

Leasing

Company,

LP

32,000

3.375%, 

2/1/2022

i

33,025

Ryder

System,

Inc.

68,000

3.500%, 

6/1/2021

69,662

Southwest

Airlines

Company

15,000

4.750%, 

5/4/2023

15,741

30,000

5.250%, 

5/4/2025

32,130

Southwest

Airlines

Company,

Convertible

180,000

1.250%, 

5/1/2025

208,648

Union

Pacific

Corporation

55,000

3.750%, 

7/15/2025

62,686

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

39

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Transportation

(0.4%)

-

continued

United

Airlines

Pass

Through

Trust

$

60,000

3.700%, 

12/1/2022

$

55,981

XPO

Logistics,

Inc.

150,000

6.750%, 

8/15/2024

i

161,319

Total

1,380,592

Utilities

(0.8%)

Alabama

Power

Company

38,000

2.450%, 

3/30/2022

39,222

Ameren

Corporation

32,000

2.500%, 

9/15/2024

34,261

Berkshire

Hathaway

Energy

Company

26,000

4.050%, 

4/15/2025

i

29,842

Calpine

Corporation

90,000

4.500%, 

2/15/2028

i

92,925

CenterPoint

Energy,

Inc.

37,000

2.500%, 

9/1/2022

38,392

36,000

2.500%, 

9/1/2024

38,421

Dominion

Energy,

Inc.

32,000

2.715%, 

8/15/2021

32,676

32,000

3.071%, 

8/15/2024

34,758

124,000

4.650%, 

12/15/2024

b,l

126,282

DTE

Energy

Company

51,000

3.300%, 

6/15/2022

53,166

53,000

2.529%, 

10/1/2024

56,481

Duke

Energy

Corporation

74,000

2.400%, 

8/15/2022

76,840

126,000

4.875%, 

9/16/2024

b,l

130,095

Edison

International

26,000

4.950%, 

4/15/2025

28,916

Evergy,

Inc.

36,000

2.450%, 

9/15/2024

38,482

Eversource

Energy

37,000

2.500%, 

3/15/2021

37,411

Exelon

Generation

Company,

LLC

29,000

3.250%, 

6/1/2025

32,011

FirstEnergy

Corporation

56,000

2.850%, 

7/15/2022

57,421

24,000

2.050%, 

3/1/2025

24,335

Florida

Power

&

Light

Company

26,000

2.850%, 

4/1/2025

28,580

Georgia

Power

Company

29,000

2.100%, 

7/30/2023

30,243

36,000

2.200%, 

9/15/2024

38,117

NextEra

Energy

Operating

Partners,

LP

205,000

3.875%, 

10/15/2026

i

214,225

NiSource,

Inc.

50,000

3.650%, 

6/15/2023

54,004

195,000

5.650%, 

6/15/2023

b,l

190,125

NRG

Energy,

Inc.,

Convertible

115,000

2.750%, 

6/1/2048

120,467

PG&E

Corporation

40,000

5.000%, 

7/1/2028

41,158

30,000

5.250%, 

7/1/2030

31,200

PPL

Capital

Funding,

Inc.

64,000

3.950%, 

3/15/2024

69,709

PSEG

Power,

LLC

50,000

3.000%, 

6/15/2021

51,032

Public

Service

Enterprise

Group,

Inc.

32,000

2.875%, 

6/15/2024

34,783

Sempra

Energy

62,000

3.550%, 

6/15/2024

67,922

Principal

Amount

Long-Term

Fixed

Income

(25.0%)

Value

Utilities

(0.8%)

-

continued

$

72,000

4.875%, 

10/15/2025

b,l

$

74,542

Southern

Company

37,000

2.350%, 

7/1/2021

37,591

Suburban

Propane

Partners,

LP

80,000

5.875%, 

3/1/2027

81,400

Talen

Energy

Supply,

LLC

80,000

7.625%, 

6/1/2028

i

83,600

TerraForm

Power

Operating,

LLC

85,000

5.000%, 

1/31/2028

i

93,712

TransCanada

Trust

325,000

5.875%, 

8/15/2076

b

349,735

Vistra

Operations

Company,

LLC

110,000

5.000%, 

7/31/2027

i

117,425

Total

2,811,507

Total

Long-Term

Fixed

Income

(cost

$85,753,315)

87,276,036

Shares

Registered

Investment

Companies

(

8.3%

)

Value

Unaffiliated  (0.9%)

11,016

Aberdeen

Asia-Pacific

Income

Fund,

Inc.

45,055

5,850

AllianceBernstein

Global

High

Income

Fund,

Inc.

62,244

12,700

AllianzGI

NFJ

Dividend

Interest

&

Premium

Strategy

Fund

152,654

2,670

BlackRock

Core

Bond

Trust

43,067

4,101

BlackRock

Corporate

High

Yield

Fund,

Inc.

43,389

2,964

BlackRock

Credit

Allocation

Income

Trust

41,970

6,480

BlackRock

Enhanced

Global

Dividend

Trust

63,245

3,600

BlackRock

Multi-Sector

Income

Trust

54,612

17,939

BlackRock

Resources

&

Commodities

Strategy

Trust

113,913

2,400

Brookfield

Real

Assets

Income

Fund,

Inc.

40,872

4,078

Cohen

&

Steers

Quality

Income

Realty

Fund,

Inc.

45,062

3,637

Eaton

Vance

Limited

Duration

Income

Fund

42,226

5,721

Eaton

Vance

Tax-Managed

Global

Diversified

Equity

Income

Fund

42,965

1,806

Health

Care

Select

Sector

SPDR

Fund

190,587

4,641

Invesco

Dynamic

Credit

Opportunities

Fund

41,490

20,000

Invesco

Senior

Loan

ETF

432,800

9,700

Invesco

Variable

Rate

Preferred

ETF

238,232

1,830

iShares

Dow

Jones

US

Home

Construction

Index

Fund

94,538

7,850

iShares

S&P

U.S.

Preferred

Stock

Index

Fund

284,013

10,800

Liberty

All-Star

Equity

Fund

63,720

9,975

Nuveen

Credit

Strategies

Income

Fund

58,653

3,212

PGIM

Global

High

Yield

Fund,

Inc.

42,334

3,178

PGIM

High

Yield

Bond

Fund,

Inc.

43,539

2,243

Pimco

Dynamic

Credit

And

Mortgage

Income

Fund

43,492

3,450

Royce

Value

Trust,

Inc.

45,229

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

40

Shares

Registered

Investment

Companies

(8.3%)

Value

Unaffiliated  (0.9%)-

continued

36,578

Templeton

Global

Income

Fund

$

200,447

1,674

Tri-Continental

Corporation

43,407

510

Utilities

Select

Sector

SPDR

Fund

j

31,023

1,400

Vanguard

Short-Term

Corporate

Bond

ETF

116,340

48,550

Western

Asset

High

Income

Opportunity

Fund,

Inc.

236,924

Total

2,998,042

Affiliated  (7.4%)

2,585,703

Thrivent

Core

Emerging

Markets

Debt

Fund

25,882,888

Total

25,882,888

Total

Registered

Investment

Companies

(cost

$28,044,496)

28,880,930

Shares

Preferred

Stock

(

1.3%

)

Value

Communications

Services

(0.1%)

7,625

AT&T,

Inc.,

4.750%

l

191,235

2,050

AT&T,

Inc.,

5.000%

l

53,935

Total

245,170

Consumer

Discretionary

(<0.1%)

400

International

Flavors

&

Fragrances,

Inc.,

Convertible,

6.000%

18,304

Total

18,304

Consumer

Staples

(0.1%)

10,600

CHS,

Inc.,

7.100%

b,l

267,120

Total

267,120

Energy

(0.1%)

40,412

Crestwood

Equity

Partners,

LP,

9.250%

l

257,829

1,450

Energy

Transfer

Operating,

LP,

7.600%

b,l

27,579

2,345

Nustar

Logistics,

LP,

7.009%

b

47,228

Total

332,636

Financials

(0.9%)

2,475

Aegon

Funding

Corporation

II,

5.100%

62,048

2,826

Agribank

FCB,

6.875%

b,l

296,730

5,200

Allstate

Corporation,

5.100%

l

140,296

4,500

Bank

of

America

Corporation,

5.000%

l

120,555

1,700

Bank

of

America

Corporation,

5.375%

l

46,325

159

Bank

of

America

Corporation,

Convertible,

7.250%

l

238,343

5,050

Capital

One

Financial

Corporation,

5.000%

j,l

126,149

2,200

Cobank

ACB,

6.250%

b,l

225,500

5,375

Equitable

Holdings,

Inc.,

5.250%

l

132,171

140

First

Horizon

Bank,

3.750%

b,i,l

93,800

7,700

GMAC

Capital

Trust

I,

6.177%

b

185,339

3,525

Hartford

Financial

Services

Group,

Inc.,

7.875%

b

100,780

3,350

J.P.

Morgan

Chase

&

Company,

4.750%

l

90,818

2,875

J.P.

Morgan

Chase

&

Company,

5.750%

l

80,155

7,025

MetLife,

Inc.,

5.625%

l

196,419

5,600

Morgan

Stanley,

7.125%

b,l

161,000

Shares

Preferred

Stock

(1.3%)

Value

Financials

(0.9%)

-

continued

725

Synovus

Financial

Corporation,

5.875%

b,l

$

17,646

4,325

Truist

Financial

Corporation,

4.750%

h,l

108,990

495

Wells

Fargo

&

Company,

Convertible,

7.500%

l

668,993

Total

3,092,057

Health

Care

(<0.1%)

92

Danaher

Corporation,

Convertible,

5.000%

112,704

Total

112,704

Industrials

(<0.1%)

136

Fortive

Corporation,

Convertible,

5.000%

120,254

1,092

Stanley

Black

&

Decker,

Inc.,

Convertible,

5.250%

104,242

Total

224,496

Real

Estate

(<0.1%)

1,007

EPR

Properties,

Convertible,

5.750%

l

17,613

1,125

Public

Storage,

4.625%

h,l

29,441

300

Public

Storage,

4.700%

l

7,989

450

Public

Storage,

4.875%

l

12,267

Total

67,310

Utilities

(0.1%)

1,059

NextEra

Energy,

Inc.,

Convertible,

4.872%

58,467

132

Sempra

Energy,

Convertible,

6.000%

13,483

4,237

Southern

Company,

Convertible,

6.750%

195,410

Total

267,360

Total

Preferred

Stock

(cost

$4,706,440)

4,627,157

Shares

Collateral

Held

for

Securities

Loaned

(

0.5%

)

Value

1,542,126

Thrivent

Cash

Management

Trust

1,542,126

Total

Collateral

Held

for

Securities

Loaned

(cost

$1,542,126)

1,542,126

Shares

or

Principal

Amount

Short-Term

Investments

(

4.6%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

200,000

0.155%,

8/19/2020

q,r

199,994

200,000

0.160%,

9/2/2020

q

199,985

300,000

0.090%,

9/15/2020

q,r

299,968

300,000

0.090%,

9/17/2020

q,r

299,966

300,000

0.090%,

9/21/2020

q,r

299,963

300,000

0.090%,

9/23/2020

q,r

299,962

300,000

0.090%,

10/7/2020

q,r

299,951

600,000

0.090%,

11/6/2020

q,r

599,857

Thrivent

Core

Short-Term

Reserve

Fund

1,355,221

0.500%

13,565,767

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

41

Shares

or

Principal

Amount

Short-Term

Investments

(4.6%)

Value

U.S.

Treasury

Bills

100,000

0.131%,

9/17/2020

q

$

99,989

Total

Short-Term

Investments

(cost

$16,138,469)

16,165,402

Total

Investments

(cost

$336,794,477)

101.9%

$356,201,686

Other

Assets

and

Liabilities,

Net

(1.9%)

(6,568,747)

Total

Net

Assets

100.0%

$349,632,939

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

f

In

bankruptcy.  Interest

is

being

accrued

per

the

bankruptcy

agreement

terms.  

g

Denotes

payment-in-kind

security.  The

security

may

pay

an

interest

or

dividend

payment

with

additional

fixed

income

or

equity

securities

in

lieu

of,

or

in

addition

to

a

cash

payment.  The

cash

rate

and/or

payment-in-kind

rate

shown

are

as

of

July

31,

2020.

h

Non-income

producing

security.

i

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$37,569,520

or

10.7%

of

total

net

assets.

j

All

or

a

portion

of

the

security

is

on

loan.

k

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

July

31,

2020.

l

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

m

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

n

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

o

Defaulted

security.  Interest

is

not

being

accrued.

p

In

bankruptcy.  Interest

is

not

being

accrued.

q

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

r

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Balanced

Income

Plus

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

29,260

Common

Stock

1,459,198

Total

lending

$1,488,458

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$1,542,126

Net

amounts

due

to

counterparty

$53,668

Definitions:

ACES

-

Alternative

Credit

Enhancement

Securities

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

PIK

-

Payment-In-Kind

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

12

MTA

-

12

Month

Treasury

Average

H15T30Y

-

U.

S.

Treasury

Yield

Curve

Rate

Treasury

Note

Constant

Maturity

30

Year

LIBOR

1W

-

ICE

Libor

USD

Rate

1

Week

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

2M

-

ICE

Libor

USD

Rate

2

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

42

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Balanced

Income

Plus

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

2,494,412

–

2,184,520

309,892

Capital

Goods

5,569,088

–

5,206,066

363,022

Communications

Services

13,654,834

–

13,464,610

190,224

Consumer

Cyclical

8,323,171

–

8,128,800

194,371

Consumer

Non-Cyclical

8,822,050

–

8,822,050

–

Energy

2,852,875

–

2,852,875

–

Financials

4,593,371

–

4,593,371

–

Technology

4,991,069

–

4,991,069

–

Transportation

209,328

–

209,328

–

Utilities

1,734,207

–

1,734,207

–

Common

Stock

Communications

Services

10,884,377

8,866,399

2,017,978

–

Consumer

Discretionary

17,906,039

14,820,068

3,085,971

–

Consumer

Staples

7,648,722

5,232,554

2,416,168

–

Energy

5,142,727

3,719,740

1,422,987

–

Financials

23,479,209

16,105,550

7,373,659

–

Health

Care

25,079,758

19,105,984

5,973,774

–

Industrials

20,735,320

14,329,484

6,405,836

–

Information

Technology

36,276,240

32,082,633

4,193,607

–

Materials

7,275,866

3,775,880

3,499,986

–

Real

Estate

7,171,075

4,728,793

2,442,282

–

Utilities

2,866,297

2,543,929

322,368

–

Long-Term

Fixed

Income

Asset-Backed

Securities

7,390,704

–

7,390,704

–

Basic

Materials

1,785,995

–

1,785,995

–

Capital

Goods

3,494,627

–

3,494,627

–

Collateralized

Mortgage

Obligations

16,403,679

–

16,403,679

–

Commercial

Mortgage-Backed

Securities

484,631

–

484,631

–

Communications

Services

7,132,023

–

7,132,023

–

Consumer

Cyclical

5,608,589

–

5,608,589

–

Consumer

Non-Cyclical

6,317,237

–

6,317,237

–

Energy

4,949,112

–

4,949,112

–

Financials

15,799,730

–

15,799,730

–

Foreign

Government

36,409

–

36,409

–

Mortgage-Backed

Securities

8,303,040

–

8,303,040

–

Technology

5,378,161

–

5,378,161

–

Transportation

1,380,592

–

1,380,592

–

Utilities

2,811,507

–

2,811,507

–

Preferred

Stock

Communications

Services

245,170

245,170

–

–

Consumer

Discretionary

18,304

18,304

–

–

Consumer

Staples

267,120

267,120

–

–

Energy

332,636

332,636

–

–

Financials

3,092,057

2,476,027

616,030

–

Health

Care

112,704

112,704

–

–

Industrials

224,496

224,496

–

–

Real

Estate

67,310

67,310

–

–

Utilities

267,360

267,360

–

–

Registered

Investment

Companies

Unaffiliated

2,998,042

2,998,042

–

–

Short-Term

Investments

2,599,635

–

2,599,635

–

Subtotal

Investments

in

Securities

$315,210,905

$132,320,183

$181,833,213

$1,057,509

Other

Investments  *

Total

Affiliated

Registered

Investment

Companies

25,882,888

Affiliated

Short-Term

Investments

13,565,767

Collateral

Held

for

Securities

Loaned

1,542,126

Subtotal

Other

Investments

$40,990,781

Total

Investments

at

Value

$356,201,686

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

43

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

292,162

292,162

–

–

Total

Asset

Derivatives

$292,162

$292,162

$–

$–

Liability

Derivatives

Futures

Contracts

422,969

422,969

–

–

Total

Liability

Derivatives

$422,969

$422,969

$–

$–

The

following

table

presents

Balanced

Income

Plus

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$2,099,681

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CME

E-mini

S&P

500

Index

3

September

2020

$

478,255

$

11,270

CME

Euro

Foreign

Exchange

Currency

21

September

2020

3,058,780

38,588

CME

Ultra

Long

Term

U.S.

Treasury

Bond

12

September

2020

2,598,602

133,648

Eurex

Euro

STOXX

50

Index

78

September

2020

3,030,152

(

119,382)

ICE

mini

MSCI

EAFE

Index

45

September

2020

3,971,944

108,656

Total

Futures

Long

Contracts

$

13,137,733

$

172,780

CBOT

10-Yr.

U.S.

Treasury

Note

(11)

September

2020

(

$

1,523,808)

(

$

17,051)

CBOT

2-Yr.

U.S.

Treasury

Note

(13)

September

2020

(

2,870,015)

(

2,782)

CBOT

5-Yr.

U.S.

Treasury

Note

(14)

September

2020

(

1,754,995)

(

10,755)

CBOT

U.S.

Long

Bond

(32)

September

2020

(

5,690,302)

(

142,698)

CME

E-mini

Russell

2000

Index

(10)

September

2020

(

707,482)

(

31,418)

CME

E-mini

S&P

500

Index

(3)

September

2020

(

480,472)

(

9,053)

CME

E-mini

S&P

Mid-Cap

400

Index

(4)

September

2020

(

705,334)

(

38,866)

Ultra

10-Yr.

U.S.

Treasury

Note

(18)

September

2020

(

2,815,536)

(

50,964)

Total

Futures

Short

Contracts

(

$

16,547,944)

($303,587)

Total

Futures

Contracts

(

$

3,410,211)

($130,807)

Balanced

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

44

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Balanced

Income

Plus

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$26,781

$878

$2,300

$25,883

2,586

7.4%

Total

Affiliated

Registered

Investment

Companies

26,781

25,883

7.4

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

27,165

113,646

127,272

13,566

1,355

3.9

Total

Affiliated

Short-Term

Investments

27,165

13,566

3.9

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

2,333

40,262

41,053

1,542

1,542

0.5

Total

Collateral

Held

for

Securities

Loaned

2,333

1,542

0.5

Total

Value

$56,279

$40,991

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$20

$504

$–

$879

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

0

27

0

239

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$1,118

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

14

Total

Affiliated

Income

from

Securities

Loaned,

Net

$14

Total

$20

$531

$0

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

45

Shares

Common

Stock

(

83.2%

)

Value

Communications

Services

(6.1%)

73,246

Activision

Blizzard,

Inc.

$

6,052,317

16,706

Alphabet,

Inc.,

Class

A

a

24,857,693

2,540

Alphabet,

Inc.,

Class

C

a

3,766,718

17,329

AMC

Entertainment

Holdings,

Inc.

70,009

2,668

AMC

Networks,

Inc.

a

61,631

803,045

Auto

Trader

Group

plc

b

5,609,699

89,095

Carsales.com,

Ltd.

1,164,746

12,687

Cinemark

Holdings,

Inc.

150,087

906

Cogeco

Communications,

Inc.

69,060

175,150

Comcast

Corporation

7,496,420

4,851

Consolidated

Communications

Holdings,

Inc.

a

35,412

47,806

Deutsche

Telekom

AG

798,112

72,964

Discovery,

Inc.,

Class

A

a

1,539,540

6,237

EchoStar

Corporation

a

170,270

39,020

Facebook,

Inc.

a

9,898,203

56,396

Gannett

Company,

Inc.

83,466

1,907

Hemisphere

Media

Group,

Inc.

a

16,782

417,000

HKT

Trust

and

HKT,

Ltd.

614,445

279

IAC/InterActiveCorp

a

36,945

10,588

Interpublic

Group

of

Companies,

Inc.

191,113

13,810

Ipsos

SA

366,537

39,500

KDDI

Corporation

1,255,999

4,667

Lions

Gate

Entertainment

Corporation,

Class

A

a

35,749

6,010

Lions

Gate

Entertainment

Corporation,

Class

B

a

42,731

127,982

Live

Nation

Entertainment,

Inc.

a

5,990,838

536

Madison

Square

Garden

Entertainment

Corporation

a

37,981

602

Match

Group,

Inc.

a

61,825

500,449

Mediaset

Espana

Comunicacion

SA

a

1,636,971

9,569

Meredith

Corporation

137,411

2,511

News

Corporation

32,040

4,200

NEXON

Company,

Ltd.

107,906

3,500

Nintendo

Company,

Ltd.

1,539,336

18,300

Nippon

Telegraph

&

Telephone

Corporation

424,770

62,700

NTT

DOCOMO,

Inc.

1,726,201

31,532

ORBCOMM,

Inc.

a

132,750

35,129

Rightmove

plc

253,521

5,546

RingCentral,

Inc.

a

1,609,838

2,361

Scholastic

Corporation

56,499

193,914

Seven

West

Media,

Ltd.

a

13,713

217,500

SoftBank

Corporation

2,911,500

46,200

SoftBank

Group

Corporation

2,913,977

5,666

Take-Two

Interactive

Software,

Inc.

a

929,337

139,900

TV

Asahi

Holdings

Corporation

1,913,133

170,357

Uber

Technologies,

Inc.

a

5,155,003

184,849

Verizon

Communications,

Inc.

10,625,121

1,490

ViacomCBS,

Inc.

38,844

32,119

Wolters

Kluwer

NV

2,529,627

Total

105,161,826

Consumer

Discretionary

(10.2%)

3,716

Aaron's,

Inc.

193,901

1,500

ABC-MART,

Inc.

79,028

5,002

Abercrombie

&

Fitch

Company

48,169

5,877

Adient

plc

a

97,793

16,855

Amazon.com,

Inc.

a

53,340,681

14,572

American

Eagle

Outfitters,

Inc.

145,720

849

American

Public

Education,

Inc.

a

24,714

8,700

AOKI

Holdings,

Inc.

44,769

Shares

Common

Stock

(83.2%)

Value

Consumer

Discretionary

(10.2%)

-

continued

103,559

Aptiv

plc

$

8,051,712

7,133

At

Home

Group,

Inc.

a

88,592

17,700

Autobacs

Seven

Company,

Ltd.

206,227

16,349

Autogrill

SPA

a

78,195

1,928

AutoZone,

Inc.

a

2,327,906

250,660

B&M

European

Value

Retail

SA

1,507,042

7,717

Beazer

Homes

USA,

Inc.

a

86,353

14,595

Bed

Bath

&

Beyond,

Inc.

157,918

29,399

Berkeley

Group

Holdings

plc

1,705,759

2,942

Big

Lots,

Inc.

115,738

7,075

BJ's

Restaurants,

Inc.

141,924

348

Bloomin'

Brands,

Inc.

4,009

11,800

Bridgestone

Corporation

347,575

18,165

Bright

Horizons

Family

Solutions,

Inc.

a

1,948,015

9,618

Bunzl

plc

275,518

9,176

Burlington

Stores,

Inc.

a

1,725,088

4,678

Caesars

Entertainment,

Inc.

a

145,252

3,206

Caleres,

Inc.

20,230

4,439

Camping

World

Holdings,

Inc.

162,556

8,362

Capri

Holdings,

Ltd.

a

125,263

7,363

Carnival

Corporation

102,198

3,948

Century

Casinos,

Inc.

a

15,910

2,301

Century

Communities,

Inc.

a

81,962

15,176

Chewy,

Inc.

a

796,588

52,102

Chico's

FAS,

Inc.

66,170

902

Children's

Place,

Inc.

22,018

4,659

Chipotle

Mexican

Grill,

Inc.

a

5,381,890

22,700

Chiyoda

Company,

Ltd.

216,933

126

Churchill

Downs,

Inc.

17,454

2,225

Cie

Generale

des

Etablissements

Michelin

230,435

231,700

Citizen

Watch

Company,

Ltd.

631,537

13,787

Collins

Foods,

Ltd.

93,203

38,847

Cooper-Standard

Holdings,

Inc.

a

416,051

3,108

Cracker

Barrel

Old

Country

Store,

Inc.

343,341

7,359

Culp,

Inc.

81,685

46,148

D.R.

Horton,

Inc.

3,053,152

5,666

Dana,

Inc.

64,762

2,403

Darden

Restaurants,

Inc.

182,388

7,109

Dave

&

Buster's

Entertainment,

Inc.

87,725

895

Deckers

Outdoor

Corporation

a

187,279

2,952

Denny's

Corporation

a

26,229

105,100

Denso

Corporation

3,887,922

7,043

Designer

Brands,

Inc.

41,624

3,192

Dick's

Sporting

Goods,

Inc.

145,619

2,693

Dine

Brands

Global,

Inc.

122,343

74,453

Dollarama,

Inc.

2,722,541

7,830

Dometic

Group

AB

b

76,442

3,592

Domino's

Pizza,

Inc.

1,388,703

164

Dorman

Products,

Inc.

a

13,407

900

Doutor

Nichires

Holdings

Company,

Ltd.

11,981

46,901

Duluth

Holdings,

Inc.

a

346,598

9,979

Emerald

Holding,

Inc.

27,143

5,628

Ethan

Allen

Interiors,

Inc.

66,636

8,861

Etsy,

Inc.

a

1,048,965

9,303

Europris

ASA

b

45,735

1,900

Exedy

Corporation

23,462

5,143

Express,

Inc.

a

5,194

5,676

Extended

Stay

America,

Inc.

64,763

1,200

Fast

Retailing

Company,

Ltd.

638,162

22,194

Five

Below,

Inc.

a

2,417,149

10,207

Foot

Locker,

Inc.

299,984

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

46

Shares

Common

Stock

(83.2%)

Value

Consumer

Discretionary

(10.2%)

-

continued

5,582

Fossil,

Inc.

a

$

18,476

474

Fox

Factory

Holding

Corporation

a

42,186

410,000

Galaxy

Entertainment

Group,

Ltd.

2,796,094

8,017

GameStop

Corporation

a

32,148

6,364

Gap,

Inc.

85,087

7,021

Garrett

Motion,

Inc.

a

41,283

6,695

Genuine

Parts

Company

603,554

2,264

G-III

Apparel

Group,

Ltd.

a

22,391

10,060

Goodyear

Tire

&

Rubber

Company

90,641

2,564

Grand

Canyon

Education,

Inc.

a

227,529

54,443

GVC

Holdings

plc

471,178

1,900

Hermes

International

1,540,409

41,786

Home

Depot,

Inc.

11,093,765

1,212

Hooker

Furniture

Corporation

25,937

1,914

Hovnanian

Enterprises,

Inc.

a

44,596

37,470

Husqvarna

AB

358,588

72,732

Industria

de

Diseno

Textil

SA

1,927,250

2,414

InterContinental

Hotels

Group

plc

111,192

500

Izumi

Company,

Ltd.

19,278

1,583

Jack

in

the

Box,

Inc.

129,980

5,812

KB

Home

195,516

12,696

Knoll,

Inc.

148,670

8,012

Kohl's

Corporation

152,548

2,953

Kontoor

Brands,

Inc.

56,579

9,684

L

Brands,

Inc.

236,386

8,093

Lear

Corporation

893,305

749

Lithia

Motors,

Inc.

171,633

52,677

Lowe's

Companies,

Inc.

7,844,132

530

LVMH

Moet

Hennessy

Louis

Vuitton

SE

230,468

14,317

Macy's,

Inc.

86,761

536

Madison

Square

Garden

Sports

Corporation

a

82,378

5,547

Marcus

Corporation

76,604

698

Marriott

Vacations

Worldwide

Corporation

59,093

27,416

Mattel,

Inc.

a

304,592

29,403

Melia

Hotels

International

SA

a

108,850

18,977

Michaels

Companies,

Inc.

a

136,255

4,620

Modine

Manufacturing

Company

a

25,133

12,978

Mohawk

Industries,

Inc.

a

1,036,293

307,422

Moneysupermarket.com

Group

plc

1,177,746

84,400

NHK

Spring

Company,

Ltd.

474,969

7,600

Nihon

Unisys,

Ltd.

229,984

60,494

NIKE,

Inc.

5,904,819

50,600

Nissan

Motor

Company,

Ltd.

173,081

8,365

Nordstrom,

Inc.

114,517

11,702

Norwegian

Cruise

Line

Holdings,

Ltd.

a

159,615

337

NVR,

Inc.

a

1,324,461

2,870

Office

Depot,

Inc.

63,341

18,361

Ollie's

Bargain

Outlet

Holdings,

Inc.

a

1,929,741

14,400

Onward

Holdings

Company,

Ltd.

35,364

4,000

Oriental

Land

Company,

Ltd.

482,571

10,565

Pandox

AB

133,375

2,551

Park

Hotels

&

Resorts,

Inc.

21,097

45,576

Party

City

Holdco,

Inc.

a

74,745

16,882

Penn

National

Gaming,

Inc.

a

571,456

43,939

Planet

Fitness,

Inc.

a

2,293,616

67,173

Playa

Hotels

and

Resorts

NV

a

243,838

15,500

PLENUS

Company,

Ltd.

236,808

212

Pool

Corporation

67,140

9,008

PulteGroup,

Inc.

392,749

2,139

PVH

Corporation

104,084

11,294

Qurate

Retail,

Inc.

a

123,218

Shares

Common

Stock

(83.2%)

Value

Consumer

Discretionary

(10.2%)

-

continued

1,208

Red

Robin

Gourmet

Burgers,

Inc.

a

$

10,558

33,277

Red

Rock

Resorts,

Inc.

364,716

181,393

Redrow

plc

1,012,728

20,350

Restaurant

Brands

International,

Inc.

1,150,182

28,500

Rinnai

Corporation

2,335,967

4,228

Royal

Caribbean

Cruises,

Ltd.

205,946

14,157

Ruth's

Hospitality

Group,

Inc.

94,781

6,317

Sally

Beauty

Holdings,

Inc.

a

73,340

42,100

Sangetsu

Company,

Ltd.

575,856

49,326

Scandic

Hotels

Group

AB

b

170,458

856

SeaWorld

Entertainment,

Inc.

a

12,386

14,800

SHIMAMURA

Company,

Ltd.

1,029,172

1,580

Signet

Jewelers,

Ltd.

16,969

12,735

Six

Flags

Entertainment

Corporation

221,462

14,738

Skyline

Corporation

a

416,054

26,800

Sony

Corporation

2,082,227

45,837

Sony

Corporation

ADR

3,573,453

11,381

Standard

Motor

Products,

Inc.

517,608

606

Strategic

Education,

Inc.

76,483

392,300

Sumitomo

Electric

Industries,

Ltd.

4,383,020

10,000

Sumitomo

Forestry

Company,

Ltd.

111,804

192,300

Sumitomo

Rubber

Industries,

Ltd.

1,599,822

20,839

Super

Retail

Group,

Ltd.

131,712

11,819

Tailored

Brands,

Inc.

3,582

6,200

Takara

Standard

Company,

Ltd.

83,719

21,176

Taylor

Morrison

Home

Corporation

a

496,577

707,004

Taylor

Wimpey

plc

1,090,575

12,205

Tenneco,

Inc.

a

90,439

23,385

Texas

Roadhouse,

Inc.

1,314,003

7,322

Thor

Industries,

Inc.

834,635

6,356

Thule

Group

AB

b

189,067

13,344

Toll

Brothers,

Inc.

509,741

5,358

TopBuild

Corporation

a

706,827

29,100

Toyoda

Gosei

Company,

Ltd.

570,607

9,500

Toyota

Motor

Corporation

563,958

7,924

Tri

Pointe

Homes,

Inc.

a

132,489

1,455

Tupperware

Brands

Corporation

22,451

5,425

Ulta

Beauty,

Inc.

a

1,046,971

3,042

Urban

Outfitters,

Inc.

a

50,315

1,962

Vail

Resorts,

Inc.

376,763

130

Wayfair,

Inc.

a

34,592

126,188

William

Hill

plc

171,801

241

Williams-Sonoma,

Inc.

20,996

7,036

Wingstop,

Inc.

1,099,375

1,287

Workhorse

Group,

Inc.

a

19,974

1,085

YETI

Holdings,

Inc.

a

53,046

17,800

Z

Holdings

Corporation

94,656

Total

176,291,886

Consumer

Staples

(2.9%)

751

Andersons,

Inc.

10,679

24,900

Arcs

Company,

Ltd.

577,727

60,360

BJ's

Wholesale

Club

Holdings,

Inc.

a

2,417,418

6,720

British

American

Tobacco

plc

222,085

32,876

Carlsberg

AS

4,855,442

9,574

Casey's

General

Stores,

Inc.

1,524,085

1,947

Central

Garden

&

Pet

Company

a

73,714

24,150

Davide

Campari-Milano

NV

243,804

33,169

e.l.f.

Beauty,

Inc.

a

592,398

3,772

Edgewell

Personal

Care

Company

a

112,745

6,974

Elior

Participations

SCA

b

38,624

33,644

ForFarmers

BV

215,989

897

George

Weston,

Ltd.

67,751

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

47

Shares

Common

Stock

(83.2%)

Value

Consumer

Staples

(2.9%)

-

continued

8,107

Glanbia

plc

$

98,419

1,188

Hain

Celestial

Group,

Inc.

a

40,368

2,764

Heineken

NV

267,762

51,800

Japan

Tobacco,

Inc.

885,389

8,600

Kao

Corporation

623,879

21,500

Kewpie

Corporation

382,692

14,527

Kimberly-Clark

Corporation

2,208,685

18,479

Lamb

Weston

Holdings,

Inc.

1,110,218

210

Lindt

&

Spruengli

AG

1,625,787

4,785

L'Oreal

SA

1,605,984

1,357

McCormick

&

Company,

Inc.

264,479

8,200

Ministop

Company,

Ltd.

112,285

10,640

Monster

Beverage

Corporation

a

835,027

92,053

Nestle

SA

10,947,105

600

Noevir

Holdings

Company,

Ltd.

24,830

21,027

Orkla

ASA

206,818

1,663

Royal

Unibrew

AS

168,242

2,096

Seneca

Foods

Corporation

a

82,121

21,200

Seven

&

I

Holdings

Company,

Ltd.

640,654

8,300

Shiseido

Company,

Ltd.

462,445

20,285

Simply

Good

Foods

Company

a

487,651

3,045

Sprouts

Farmers

Markets,

Inc.

a

80,327

40,300

Sugi

Holdings

Company,

Ltd.

2,911,905

59,600

Sundrug

Company,

Ltd.

2,028,244

3,486

TreeHouse

Foods,

Inc.

a

152,757

34,264

Turning

Point

Brands,

Inc.

1,126,600

3,600

Unicharm

Corporation

162,838

22,471

Unilever

NV

1,327,822

5,844

Vector

Group,

Ltd.

51,544

68,628

Wal-Mart

Stores,

Inc.

8,880,463

Total

50,755,801

Energy

(2.3%)

20,054

Antero

Midstream

Corporation

113,706

12,762

Apache

Corporation

195,897

48,770

Archrock,

Inc.

324,808

115,002

BP

plc

ADR

2,534,644

8,344

Canadian

Natural

Resources,

Ltd.

147,201

18,315

Centennial

Resource

Development,

Inc.

a

14,419

191,169

CGG

SA

a

163,635

6,410

ChampionX

Corporation

a

60,959

36,095

Chevron

Corporation

3,029,814

19,220

Cimarex

Energy

Company

470,121

22,750

CNX

Resources

Corporation

a

219,537

9,574

Concho

Resources,

Inc.

503,018

31,187

ConocoPhillips

1,166,082

11,128

Continental

Resources,

Inc.

192,403

8,672

Core

Laboratories

NV

184,974

3,747

Delek

US

Holdings,

Inc.

65,498

25,443

Devon

Energy

Corporation

266,897

6,933

Diamondback

Energy,

Inc.

276,349

366,500

Eneos

Holdings,

Inc.

1,285,173

215,038

Eni

SPA

1,915,523

35,187

EnLink

Midstream,

LLC

86,208

80,361

Enterprise

Products

Partners,

LP

1,414,354

30,283

EQT

Corporation

439,709

26,490

Equitrans

Midstream

Corporation

255,628

11,199

Exterran

Corporation

a

55,659

25,636

Exxon

Mobil

Corporation

1,078,763

16,572

Frank's

International

NV

a

37,784

3,891

Gaztransport

Et

Technigaz

SA

361,790

25,214

Gran

Tierra

Energy,

Inc.

a

7,312

78,195

Halliburton

Company

1,120,534

8,657

Helmerich

&

Payne,

Inc.

154,354

Shares

Common

Stock

(83.2%)

Value

Energy

(2.3%)

-

continued

87,995

John

Wood

Group

plc

$

218,734

19,172

Kosmos

Energy,

Ltd.

30,867

11,734

Liberty

Oilfield

Services,

Inc.

66,297

4,823

Lundin

Energy

AB

112,500

235,599

Marathon

Oil

Corporation

1,293,439

69,578

Marathon

Petroleum

Corporation

2,657,880

990

Nabors

Industries,

Ltd.

41,986

12,690

NexTier

Oilfield

Solutions,

Inc.

a

31,979

32,553

Nine

Energy

Service,

Inc.

a

60,549

17,670

Oceaneering

International,

Inc.

a

99,305

18,397

OMV

AG

a

581,013

30,611

Patterson-UTI

Energy,

Inc.

118,618

6,055

PBF

Energy,

Inc.

52,557

2,868

PDC

Energy,

Inc.

a

40,898

6,860

Peabody

Energy

Corporation

21,403

24,599

Pioneer

Natural

Resources

Company

2,384,135

9,870

Plains

GP

Holdings,

LP

78,368

5,039

ProPetro

Holding

Corporation

a

27,059

18,365

QEP

Resources,

Inc.

26,997

10,211

Range

Resources

Corporation

65,963

195,723

Royal

Dutch

Shell

plc,

Class

A

2,860,613

316,169

Royal

Dutch

Shell

plc,

Class

B

4,437,905

9,032

RPC,

Inc.

a

26,825

3,005

SM

Energy

Company

8,865

36,518

Southwestern

Energy

Company

a

88,739

17,708

Talos

Energy,

Inc.

a

120,591

3,983

Targa

Resources

Corporation

72,809

31,533

TC

Energy

Corporation

1,437,224

36,731

Tenaris

SA

ADR

429,753

116,760

Total

SE

4,418,642

38,840

Transocean,

Ltd.

a

79,234

279,771

Tullow

Oil

plc

93,554

19,115

Vermilion

Energy

Inc

77,918

5,051

Washington

H.

Soul

Pattinson

and

Company,

Ltd.

70,464

22,575

Whitecap

Resources,

Inc.

37,247

3,154

Woodside

Petroleum,

Ltd.

44,869

Total

40,458,552

Financials

(11.6%)

149

1st

Source

Corporation

4,935

169,670

AB

Industrivarden

a

4,185,331

63,494

Aflac,

Inc.

2,258,482

10,851

AG

Mortgage

Investment

Trust,

Inc.

30,274

79,600

AIA

Group,

Ltd.

717,749

1,540

Alleghany

Corporation

804,373

47,154

Allianz

SE

9,783,268

1,916

American

Equity

Investment

Life

Holding

Company

48,762

54,797

American

Express

Company

5,113,656

29,069

American

Financial

Group,

Inc.

1,766,523

47,827

American

International

Group,

Inc.

1,537,160

3,283

Ameriprise

Financial,

Inc.

504,367

14,851

Ameris

Bancorp

342,687

2,100

Aozora

Bank,

Ltd.

33,593

4,315

Apollo

Commercial

Real

Estate

Finance,

Inc.

40,130

1,942

Argo

Group

International

Holdings,

Ltd.

65,076

8,658

Arthur

J.

Gallagher

&

Company

930,648

3,386

Artisan

Partners

Asset

Management,

Inc.

122,675

24,446

Associated

Banc-Corp

313,887

11,974

Assured

Guaranty,

Ltd.

261,392

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

48

Shares

Common

Stock

(83.2%)

Value

Financials

(11.6%)

-

continued

34,422

Baloise

Holding

AG

$

5,251,933

335,433

Bank

Leumi

Le-Israel

BM

1,700,438

338,315

Bank

of

America

Corporation

8,417,277

1,297

Bank

of

Marin

Bancorp

40,739

13,960

Bank

of

Montreal

c

763,738

695

Bank

OZK

16,715

7,435

BankFinancial

Corporation

54,201

5,109

BankUnited,

Inc.

102,895

12,209

Banner

Corporation

432,565

11,077

Berkshire

Hills

Bancorp,

Inc.

110,327

3,150

Blackstone

Mortgage

Trust,

Inc.

75,821

1,889

BOK

Financial

Corporation

105,217

40,048

Boston

Private

Financial

Holdings,

Inc.

235,682

6,258

Brighthouse

Financial,

Inc.

a

177,352

23,779

BrightSphere

Investment

Group

319,590

2,839

Brown

&

Brown,

Inc.

129,089

3,849

Byline

Bancorp,

Inc.

49,883

66,857

Capital

One

Financial

Corporation

4,265,477

4,213

Central

Pacific

Financial

Corporation

65,554

121,358

Charles

Schwab

Corporation

4,023,018

26,497

Chubb,

Ltd.

3,371,478

370,878

CI

Financial

Corporation

5,097,513

2,892

Cincinnati

Financial

Corporation

225,374

23,902

CIT

Group,

Inc.

453,421

157,549

Citigroup,

Inc.

7,879,026

20,640

Citizens

Financial

Group,

Inc.

512,078

35,732

Colony

Capital,

Inc.

68,605

44,438

Comerica,

Inc.

1,711,752

81,770

Commonwealth

Bank

of

Australia

4,160,033

11,555

Community

Trust

Bancorp,

Inc.

353,699

13,249

Cullen/Frost

Bankers,

Inc.

954,723

279,200

DBS

Group

Holdings,

Ltd.

4,033,228

13,701

Deutsche

Boerse

AG

2,492,820

81,067

Deutsche

Pfandbriefbank

AG

a,b

513,563

423

Diamond

Hill

Investment

Group,

Inc.

48,235

9,920

Discover

Financial

Services

490,346

278,701

DnB

ASA

a

4,280,665

6,218

East

West

Bancorp,

Inc.

215,516

2,354

Encore

Capital

Group,

Inc.

a

85,992

3,180

Enterprise

Financial

Services

Corporation

92,411

15,037

Essent

Group,

Ltd.

538,776

64,690

Euronext

NV

b

7,472,862

93,740

Everi

Holdings,

Inc.

a

532,443

1,914

FBL

Financial

Group,

Inc.

66,569

1,118

Federal

Agricultural

Mortgage

Corporation

66,532

4,416

Fifth

Third

Bancorp

87,702

7,428

Financial

Institutions,

Inc.

109,712

3,672

First

American

Financial

Corporation

187,309

596

First

Bancshares,

Inc.

11,866

12,265

First

Busey

Corporation

209,732

1,254

First

Citizens

BancShares,

Inc.

534,041

6,287

First

Financial

Corporation

210,174

10,218

First

Interstate

BancSystem,

Inc.

297,446

9,179

First

Midwest

Bancorp,

Inc.

111,387

1,199

First

of

Long

Island

Corporation

17,877

6,212

First

Republic

Bank

698,726

586,255

FlexiGroup,

Ltd.

522,832

6,167

Goldman

Sachs

Group,

Inc.

1,220,819

14,187

Granite

Point

Mortgage

Trust,

Inc.

96,330

10,934

Great

Southern

Bancorp,

Inc.

394,389

Shares

Common

Stock

(83.2%)

Value

Financials

(11.6%)

-

continued

12,902

Great

Western

Bancorp,

Inc.

$

167,726

1,063

Groupe

Bruxelles

Lambert

SA

92,205

10,048

Hamilton

Lane,

Inc.

725,868

24,481

Hancock

Whitney

Corporation

466,608

1,037

Hanmi

Financial

Corporation

9,572

7,749

Hanover

Insurance

Group,

Inc.

789,468

59,698

Hartford

Financial

Services

Group,

Inc.

2,526,419

9,590

Heritage

Commerce

Corporation

65,020

8,741

Hometrust

Bancshares,

Inc.

126,045

13,201

Horizon

Bancorp,

Inc.

133,462

806

Houlihan

Lokey,

Inc.

44,169

212,273

HSBC

Holdings

plc

955,830

2,553

IGM

Financial,

Inc.

62,765

12,423

Independent

Bank

Corporation

173,487

12,867

Interactive

Brokers

Group,

Inc.

638,203

2,815

International

Bancshares

Corporation

85,632

1,093,517

Israel

Discount

Bank,

Ltd.

3,362,135

24,578

J.P.

Morgan

Chase

&

Company

2,375,218

265

Janus

Henderson

Group

plc

5,536

8,300

Japan

Exchange

Group,

Inc.

197,091

76,100

Japan

Post

Bank

Company,

Ltd.

567,733

12,700

Japan

Post

Holdings

Company,

Ltd.

86,738

29,730

Julius

Baer

Group,

Ltd.

1,305,145

5,407

Kemper

Corporation

424,558

116,792

KeyCorp

1,402,672

8,813

L

E

Lundbergforetagen

AB

a

413,977

2,917

Lakeland

Bancorp,

Inc.

29,695

70,987

Laurentian

Bank

of

Canada

c

1,407,074

5,067

Loews

Corporation

184,489

5,827

M&T

Bank

Corporation

617,371

63,237

Manulife

Financial

Corporation

847,440

123

MarketAxess

Holdings,

Inc.

63,554

2,870

Mercantile

Bank

Corporation

61,102

55,250

MetLife,

Inc.

2,091,213

10,534

MidWestOne

Financial

Group,

Inc.

190,455

155,100

Mitsubishi

UFJ

Financial

Group,

Inc.

581,209

24,727

Mizrahi

Tefahot

Bank,

Ltd.

518,275

88,492

Morgan

Stanley

4,325,489

264

Morningstar,

Inc.

44,363

6,653

Mr.

Cooper

Group,

Inc.

a

108,643

9,900

MS

and

AD

Insurance

Group

Holdings,

Inc.

248,768

3,827

MSCI,

Inc.

1,438,875

43,035

National

Bank

of

Canada

2,031,829

175

National

Western

Life

Group,

Inc.

34,088

1,098

NBT

Bancorp,

Inc.

32,709

6,547

Northern

Trust

Corporation

512,957

3,380

Northwest

Bancshares,

Inc.

33,293

162

OFG

Bancorp

2,119

2,277

Old

Republic

International

Corporation

36,591

6,597

Old

Second

Bancorp,

Inc.

54,887

12,830

Onex

Corporation

570,307

1,900

ORIX

Corporation

20,549

7,531

PacWest

Bancorp

137,629

21,221

Paragon

Banking

Group

plc

86,997

19,384

Pargesa

Holding

SA

1,537,974

314

Park

National

Corporation

26,929

2,459

Peoples

Bancorp,

Inc.

49,352

31,242

Popular,

Inc.

1,159,391

64,390

Power

Corporation

of

Canada

1,142,671

20,403

Premier

Financial

Corporation

360,725

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

49

Shares

Common

Stock

(83.2%)

Value

Financials

(11.6%)

-

continued

14,911

Prosight

Global,

Inc.

a

$

117,200

1,612

Provident

Financial

Services,

Inc.

22,004

10,480

QCR

Holdings,

Inc.

313,142

10,835

Radian

Group,

Inc.

161,658

53,957

Raymond

James

Financial,

Inc.

3,748,932

17,816

Redwood

Trust,

Inc.

127,028

12,638

Reinsurance

Group

of

America,

Inc.

1,077,390

5,724

Renasant

Corporation

132,969

300

Ricoh

Leasing

Company,

Ltd.

7,590

39,430

Royal

Bank

of

Canada

2,720,021

16,914

S&P

Global,

Inc.

5,924,129

1,544

Safety

Insurance

Group,

Inc.

116,834

837

Sandy

Spring

Bancorp,

Inc.

19,351

16,461

Seacoast

Banking

Corporation

of

Florida

a

310,784

20,082

SEI

Investments

Company

1,050,891

1,422

Selective

Insurance

Group,

Inc.

77,271

24,900

Senshu

Ikeda

Holdings,

Inc.

36,664

194

Signature

Bank

19,891

55,800

Singapore

Exchange,

Ltd.

332,865

6,099

SLM

Corporation

41,290

10,164

Starwood

Property

Trust,

Inc.

151,952

143,294

Sun

Life

Financial,

Inc.

5,585,412

5,917

SVB

Financial

Group

a

1,327,006

13,383

Swiss

Life

Holding

AG

4,890,706

33,904

Synovus

Financial

Corporation

683,166

5,314

T.

Rowe

Price

Group,

Inc.

733,863

1,880

TCF

Financial

Corporation

51,681

2,608

Territorial

Bancorp,

Inc.

57,298

8,098

Texas

Capital

Bancshares,

Inc.

a

269,016

13,124

TMX

Group,

Ltd.

1,341,549

26,800

Tokio

Marine

Holdings,

Inc.

1,131,629

9,059

Topdanmark

AS

387,419

170

Torchmark

Corporation

13,532

249,951

Toronto-Dominion

Bank

11,060,208

15,629

TPG

RE

Finance

Trust,

Inc.

135,660

5,404

TriCo

Bancshares

151,312

71,680

Truist

Financial

Corporation

2,685,133

17,144

TrustCo

Bank

Corporation

99,264

11,484

Two

Harbors

Investment

Corporation

62,358

1,012

Univest

Financial

Corporation

15,473

1,000

Walker

&

Dunlop,

Inc.

50,410

3,696

Washington

Trust

Bancorp,

Inc.

123,225

25,801

Webster

Financial

Corporation

703,593

170,610

Wells

Fargo

&

Company

4,138,999

4,993

WesBanco,

Inc.

99,011

15,176

Western

Alliance

Bancorp

545,577

19,874

Western

Asset

Mortgage

Capital

Corporation

41,934

343

Westwood

Holdings

Group,

Inc.

3,896

26,983

Wintrust

Financial

Corporation

1,154,872

61,509

Zions

Bancorporations

NA

1,997,197

Total

199,473,030

Health

Care

(13.1%)

2,134

Acadia

Healthcare

Company,

Inc.

a

63,615

38,670

ACADIA

Pharmaceuticals,

Inc.

a

1,607,512

735

Acceleron

Pharma,

Inc.

a

72,890

11,251

ADMA

Biologics,

Inc.

a

40,166

2,400

Adverum

Biotechnologies,

Inc.

a

40,248

6,300

Agile

Therapeutics,

Inc.

a

15,750

9,801

Agilent

Technologies,

Inc.

944,130

17,632

Agios

Pharmaceuticals,

Inc.

a

799,082

3,251

Akebia

Therapeutics,

Inc.

a

36,314

Shares

Common

Stock

(83.2%)

Value

Health

Care

(13.1%)

-

continued

142

Alexion

Pharmaceuticals,

Inc.

a

$

14,554

2,407

Alkermes

plc

a

43,350

4,228

AmerisourceBergen

Corporation

423,603

13,694

Amgen,

Inc.

3,350,511

4,953

AnaptysBio,

Inc.

a

88,956

4,466

Anavex

Life

Sciences

Corporation

a

18,847

8,030

Anthem,

Inc.

2,198,614

4,231

Arena

Pharmaceuticals,

Inc.

a

259,741

3,603

Argenx

SE

ADR

a

829,158

1,441

Assembly

Biosciences,

Inc.

a

31,990

49,700

Astellas

Pharmaceutical,

Inc.

775,219

3,078

Atara

Biotherapeutics,

Inc.

a

38,136

1,281

Athenex,

Inc.

a

13,591

141

Atrion

Corporation

87,434

829

AVROBIO,

Inc.

a

14,052

22,462

Axonics

Modulation

Technologies,

Inc.

a

951,490

695

Axsome

Therapeutics,

Inc.

a

49,574

3,093

Becton,

Dickinson

and

Company

870,185

9,906

Biogen,

Inc.

a

2,721,079

10,679

Biohaven

Pharmaceutical

Holding

Company,

Ltd.

a

683,883

1,494

Bio-Rad

Laboratories,

Inc.

a

784,186

8,717

Bio-Techne

Corporation

2,398,570

1,829

Bluebird

Bio,

Inc.

a

111,020

474

Blueprint

Medicines

Corporation

a

34,687

1,102

Bruker

Corporation

49,171

2,925

Cantel

Medical

Corporation

138,206

36,068

Catalent,

Inc.

a

3,150,179

61,948

Centene

Corporation

a

4,042,107

38,544

Cerner

Corporation

2,676,881

4,052

Charles

River

Laboratories

International,

Inc.

a

806,307

1,015

Chemed

Corporation

499,573

52,800

Chugai

Pharmaceutical

Company,

Ltd.

2,383,880

22,440

Cigna

Holding

Company

3,875,164

3,611

Clovis

Oncology,

Inc.

a

20,908

3,504

Community

Health

Systems,

Inc.

a

17,450

12,111

CryoLife,

Inc.

a

235,075

36,356

CSL,

Ltd.

7,071,331

50,645

CVS

Health

Corporation

3,187,596

2,852

CytomX

Therapeutics,

Inc.

a

19,993

22,000

Daiichi

Sankyo

Company,

Ltd.

1,946,705

771

Deciphera

Pharmaceuticals,

Inc.

a

35,751

5,141

Dexcom,

Inc.

a

2,239,111

8,225

Dynavax

Technologies

Corporation

a

66,705

64,875

Edwards

Lifesciences

Corporation

a

5,086,849

5,700

Eisai

Company,

Ltd.

460,028

2,419

Encompass

Health

Corporation

164,686

15,260

Gilead

Sciences,

Inc.

1,061,028

534,722

GlaxoSmithKline

plc

10,651,858

57,811

GlaxoSmithKline

plc

ADR

2,330,940

6,938

Global

Blood

Therapeutics,

Inc.

a

468,176

25,581

Grifols

SA

745,316

30,816

Guardant

Health,

Inc.

a

2,624,907

5,379

Haemonetics

Corporation

a

471,523

19,123

Halozyme

Therapeutics,

Inc.

a

519,954

21,666

HCA

Healthcare,

Inc.

2,743,782

1,356

HealthStream,

Inc.

a

29,771

8,316

Hill-Rom

Holdings,

Inc.

808,482

11,104

Humana,

Inc.

4,357,765

36

ICU

Medical,

Inc.

a

6,614

457

IDEXX

Laboratories,

Inc.

a

181,772

13,971

ImmunoGen,

Inc.

a

57,421

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

50

Shares

Common

Stock

(83.2%)

Value

Health

Care

(13.1%)

-

continued

5,415

Immunomedics,

Inc.

a

$

228,675

2,088

Insmed,

Inc.

a

54,539

11,170

Inspire

Medical

Systems,

Inc.

a

1,109,851

6,934

Insulet

Corporation

a

1,410,098

10,624

Intuitive

Surgical,

Inc.

a

7,282,115

1,895

Invitae

Corporation

a

55,334

2,873

Iovance

Biotherapeutics,

Inc.

a

83,518

54,077

Johnson

&

Johnson

7,882,264

6,504

Kadmon

Holdings,

Inc.

a

23,805

10,700

KYORIN

Holdings,

Inc.

194,378

1,688

Laboratory

Corporation

of

America

Holdings

a

325,649

21,986

LHC

Group,

Inc.

a

4,289,688

3,536

Ligand

Pharmaceuticals,

Inc.

a

414,348

3,602

LNA

Sante

217,337

17,700

M3,

Inc.

908,941

3,060

MacroGenics,

Inc.

a

77,724

63,932

Medtronic

plc

6,168,159

94,694

Merck

&

Company,

Inc.

7,598,247

1,889

Mersana

Therapeutics,

Inc.

a

37,553

1,731

Mesa

Laboratories,

Inc.

410,143

207

Mettler-Toledo

International,

Inc.

a

193,545

298

Mirati

Therapeutics,

Inc.

a

36,150

5,593

Molina

Healthcare,

Inc.

a

1,033,027

798

Momenta

Pharmaceuticals,

Inc.

a

23,533

7,709

MyoKardia,

Inc.

a

694,812

3,322

Myovant

Sciences,

Ltd.

a

50,494

18,552

Natera,

Inc.

a

890,867

6,835

National

Healthcare

Corporation

405,452

6,952

Nektar

Therapeutics

a

154,056

562

Neogen

Corporation

a

43,145

2,295

Neurocrine

Biosciences,

Inc.

a

276,226

16,845

Nevro

Corporation

a

2,239,711

175,587

Novartis

AG

14,462,624

136,051

Novo

Nordisk

AS

8,926,659

42,821

Novo

Nordisk

AS

ADR

2,797,496

33,500

Olympus

Corporation

602,547

39,435

Optinose,

Inc.

a

200,921

3,161

Orthifix

Medical,

Inc.

a

97,074

14,711

PRA

Health

Sciences,

Inc.

a

1,567,604

2,707

Precision

BioSciences,

Inc.

a

17,217

2,140

Quest

Diagnostics,

Inc.

271,930

847

Reata

Pharmaceuticals,

Inc.

a

125,102

68,381

Recordati

SPA

3,672,768

6,447

Repligen

Corporation

a

972,917

270

Replimune

Group,

Inc.

a

5,392

48,491

Roche

Holding

AG

16,795,176

3,007

Sage

Therapeutics,

Inc.

a

137,029

3,132

Sarepta

Therapeutics,

Inc.

a

480,825

300

Sawai

Pharmaceutical

Company,

Ltd.

14,252

156

Siegfried

Holding

AG

81,510

22,440

Silk

Road

Medical,

Inc.

a

1,042,562

13,676

Sonova

Holding

AG

a

3,092,201

6,397

Spectrum

Pharmaceuticals,

Inc.

a

19,127

17,434

Stryker

Corporation

3,369,992

707

Surmodics,

Inc.

a

33,434

900

Sysmex

Corporation

69,207

18,346

Tactile

Systems

Technology,

Inc.

a

751,819

54,500

Takeda

Pharmaceutical

Company,

Ltd.

1,976,541

1,976

Tecan

Group

AG

828,723

5,492

Teleflex,

Inc.

2,049,065

7,555

Tenet

Healthcare

Corporation

a

199,754

11,600

Terumo

Corporation

438,840

15,966

Thermo

Fisher

Scientific,

Inc.

6,609,126

Shares

Common

Stock

(83.2%)

Value

Health

Care

(13.1%)

-

continued

2,881

Tilray,

Inc.

a

$

21,262

700

Toho

Holdings

Company,

Ltd.

11,987

5,500

Tsumura

&

Company

137,061

1,544

U.S.

Physical

Therapy,

Inc.

128,245

1,138

uniQure

B.V.

a

47,489

1,199

United

Therapeutics

Corporation

a

133,653

3,044

Varian

Medical

Systems,

Inc.

a

434,440

13,618

VBI

Vaccines,

Inc.

a

55,425

23,879

Veeva

Systems,

Inc.

a

6,317,667

18,653

Vertex

Pharmaceuticals,

Inc.

a

5,073,616

916

Viking

Therapeutics,

Inc.

a

6,430

1,938

Waters

Corporation

a

413,085

293

West

Pharmaceutical

Services,

Inc.

78,779

9,867

Zimmer

Biomet

Holdings,

Inc.

1,330,664

63,949

Zoetis,

Inc.

9,699,784

Total

226,057,507

Industrials

(10.1%)

19,135

A.O.

Smith

Corporation

921,159

54,490

Aalberts

NV

1,945,964

635

Acuity

Brands,

Inc.

62,928

4,630

AECOM

a

167,560

3,589

Aegion

Corporation

a

55,342

19,300

Aerojet

Rocketdyne

Holdings,

Inc.

a

796,125

3,081

Allegion

plc

306,436

25,405

Altra

Industrial

Motion

Corporation

869,613

19

AMERCO

6,037

11,587

American

Airlines

Group,

Inc.

128,847

7,725

AMETEK,

Inc.

720,356

27,566

ASGN,

Inc.

a

1,887,168

129,775

Assa

Abloy

AB

2,864,938

137,005

Atlas

Copco

AB,

Class

A

6,081,854

56,331

Atlas

Copco

AB,

Class

B

2,180,160

3,685

Avis

Budget

Group,

Inc.

a

95,441

20,396

AZZ,

Inc.

644,106

1,592

Bloom

Energy

Corporation

a

19,359

6,464

Boeing

Company

1,021,312

16,386

BWX

Technologies,

Inc.

893,365

12,798

Carlisle

Companies,

Inc.

1,523,986

114,675

Carrier

Global

Corporation

3,123,747

11,165

Casella

Waste

Systems,

Inc.

a

618,653

28,462

CBIZ,

Inc.

a

688,211

14,008

Chart

Industries,

Inc.

a

959,968

24,759

CIA

De

Distribucion

Integral

462,278

8,669

Copart,

Inc.

a

808,384

3,572

Cornerstone

Building

Brands,

Inc.

a

20,253

2,815

CRA

International,

Inc.

117,583

19,031

Crane

Company

1,076,584

10,040

CSW

Industrials,

Inc.

670,572

26,705

CSX

Corporation

1,905,135

11,330

Curtiss-Wright

Corporation

1,009,730

2,900

Daikin

Industries,

Ltd.

510,245

6,534

Dart

Group

plc

55,062

75,686

Delta

Air

Lines,

Inc.

1,889,879

2,556

Douglas

Dynamics,

Inc.

90,355

19,479

EMCOR

Group,

Inc.

1,334,311

6,827

Expeditors

International

of

Washington,

Inc.

576,950

17,078

Fluor

Corporation

174,025

15,181

Forrester

Research,

Inc.

a

533,005

8,463

FuelCell

Energy,

Inc.

a

18,872

6,175

Geberit

AG

3,408,086

4,502

Generac

Holdings,

Inc.

a

709,425

22,660

General

Dynamics

Corporation

3,325,128

6,097

Gorman-Rupp

Company

184,495

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

51

Shares

Common

Stock

(83.2%)

Value

Industrials

(10.1%)

-

continued

18,000

GS

Yuasa

Corporation

$

279,898

310,057

GWA

Group,

Ltd.

630,290

24,200

Hanwa

Company,

Ltd.

430,024

6,500

Hino

Motors,

Ltd.

37,481

35,229

Honeywell

International,

Inc.

5,262,156

7,905

Hubbell,

Inc.

1,066,938

2,017

ICF

International,

Inc.

136,369

13,795

IDEX

Corporation

2,273,692

75,000

Inaba

Denki

Sangyo

Company,

Ltd.

1,715,995

20,830

Ingersoll

-

Rand,

Inc.

a

658,020

6,010

John

Bean

Technologies

Corporation

563,498

110,243

Johnson

Controls

International

plc

4,242,151

10,600

Kamigumi

Company,

Ltd.

193,458

15,598

Kansas

City

Southern

2,680,516

95,900

Kinden

Corporation

1,486,557

74,996

Koninklijke

Philips

NV

a

3,875,120

147

Landstar

System,

Inc.

17,902

103,198

Legrand

SA

7,959,908

1,541

Lennox

International,

Inc.

413,204

22,482

Lincoln

Electric

Holdings,

Inc.

2,032,148

10,747

Lockheed

Martin

Corporation

4,072,791

5,307

Manpower,

Inc.

365,069

292,200

Marubeni

Corporation

1,345,265

2,436

Masonite

International

Corporation

a

205,477

5,071

Mercury

Systems,

Inc.

a

392,648

51,584

Meritor,

Inc.

a

1,173,536

9,621

Middleby

Corporation

a

799,120

188,200

Mitsubishi

Corporation

3,792,191

29,100

Mitsuboshi

Belting,

Ltd.

481,640

307,300

Mitsui

&

Company,

Ltd.

4,594,166

4,217

MSC

Industrial

Direct

Company,

Inc.

278,364

98,325

National

Express

Group

plc

195,640

2,200

Nidec

Corporation

174,761

1,100

Nikkon

Holdings

Company,

Ltd.

20,046

107,600

Nitto

Kogyo

Corporation

1,750,440

51,442

Nobina

AB

a,b

324,016

2,753

Nordson

Corporation

533,063

19,215

Norfolk

Southern

Corporation

3,693,315

8,143

Old

Dominion

Freight

Line,

Inc.

1,488,703

25,922

Otis

Worldwide

Corporation

1,626,346

160,546

PageGroup

plc

735,071

19,192

Parker-Hannifin

Corporation

3,433,833

4,634

Quad/Graphics,

Inc.

14,412

51,846

Raytheon

Technologies

Corporation

2,938,631

38,500

Recruit

Holdings

Company,

Ltd.

1,201,040

38,823

Redde

Northgate

plc

83,497

8,405

Regal-Beloit

Corporation

773,008

324,288

RELX

plc

6,826,986

1,103

Republic

Services,

Inc.

96,237

29,834

Ritchie

Brothers

Auctioneers,

Inc.

1,380,718

1,947

Rockwell

Automation,

Inc.

424,719

4,184

Roper

Industries,

Inc.

1,809,371

5,390

Ryder

System,

Inc.

197,436

7,780

Saia,

Inc.

a

929,321

75,033

Sandvik

AB

a

1,402,257

2,500

Sanwa

Holdings

Corporation

21,425

72,472

Schneider

Electric

SE

8,309,919

31,045

SEEK,

Ltd.

477,489

104,119

Signify

NV

a,b

3,123,918

6,112

Simpson

Manufacturing

Company,

Inc.

590,175

Shares

Common

Stock

(83.2%)

Value

Industrials

(10.1%)

-

continued

4,802

SiteOne

Landscape

Supply,

Inc.

a

$

614,800

124,512

SKF

AB

2,305,070

1,186,000

Sojitz

Corporation

2,487,838

28,912

Southwest

Airlines

Company

893,092

1,288

SP

Plus

Corporation

a

20,466

17,080

Spirax-Sarco

Engineering

plc

2,282,492

1,205

Spirit

Aerosystems

Holdings,

Inc.

23,582

2,948

Spirit

Airlines,

Inc.

a

46,608

1,253

SPX

FLOW,

Inc.

a

50,220

17,462

Standex

International

Corporation

935,090

719

Stantec,

Inc.

23,141

211,700

Sumitomo

Corporation

2,351,928

33,470

Summit

Materials,

Inc.

a

492,678

8,600

Taikisha,

Ltd.

241,717

1,722

Teledyne

Technologies,

Inc.

a

528,137

2,320

Thermon

Group

Holdings,

Inc.

a

31,436

28,600

Toppan

Forms

Company,

Ltd.

270,115

6,998

Toro

Company

499,307

28,314

Transcontinental,

Inc.

c

326,379

11,488

Trex

Company,

Inc.

a

1,600,623

22,789

TriMas

Corporation

a

533,263

27,000

Tsubakimoto

Chain

Company

633,721

2,342

UniFirst

Corporation

436,736

4,617

United

Airlines

Holdings,

Inc.

a

144,881

23,742

United

Rentals,

Inc.

a

3,688,795

8,600

Valmont

Industries,

Inc.

1,042,320

4,380

Verisk

Analytics,

Inc.

826,550

23,182

Vinci

SA

1,995,166

5,848

Waste

Connections,

Inc.

598,660

2,759

Watsco,

Inc.

651,317

30,239

Willdan

Group,

Inc.

a

745,694

6,132

XPO

Logistics,

Inc.

a

460,023

17,000

Yuasa

Trading

Company,

Ltd.

454,555

Total

173,730,777

Information

Technology

(18.1%)

18,195

Adobe,

Inc.

a

8,084,402

3,087

ADTRAN,

Inc.

38,341

8,600

Advantest

Corporation

469,552

2,815

Akamai

Technologies,

Inc.

a

316,519

2,875

Alliance

Data

Systems

Corporation

127,535

5,672

Alteryx,

Inc.

a

995,379

30,494

Amadeus

IT

Holding

SA

1,522,730

3,635

American

Software,

Inc.

59,868

18,931

Amphenol

Corporation

2,002,143

27,903

Anaplan,

Inc.

a

1,267,075

908

ANSYS,

Inc.

a

282,025

88,331

Apple,

Inc.

37,544,208

2,359

ASM

International

NV

360,853

21,244

ASML

Holding

NV

7,553,064

1,808

Aspen

Technology,

Inc.

a

175,846

5,821

Atlassian

Corporation

plc

a

1,028,280

9,937

Avalara,

Inc.

a

1,336,030

3,560

Avnet,

Inc.

95,123

900

Azbil

Corporation

30,002

10,937

Bandwidth,

Inc.

a

1,583,459

45,733

BE

Semiconductor

Industries

NV

2,044,807

15,119

Benchmark

Electronics,

Inc.

307,823

11,465

Blackline,

Inc.

a

1,019,353

2,559

Broadridge

Financial

Solutions,

Inc.

343,776

881

CACI

International,

Inc.

a

183,089

200

Canon

Electronics,

Inc.

2,773

41,000

Canon,

Inc.

659,794

3,736

Capgemini

SA

484,539

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

52

Shares

Common

Stock

(83.2%)

Value

Information

Technology

(18.1%)

-

continued

23,109

CDK

Global,

Inc.

$

1,050,535

32,121

CDW

Corporation

3,734,066

396

CEVA,

Inc.

a

15,919

122,191

CGI,

Inc.

a

8,727,472

212,757

Cisco

Systems,

Inc.

10,020,855

8,899

Cognex

Corporation

595,076

5,984

CommScope

Holding

Company,

Inc.

a

55,532

3,800

Computer

Engineering

&

Consulting,

Ltd.

54,588

157,689

Computershare,

Ltd.

1,509,216

10,031

Coupa

Software,

Inc.

a

3,074,000

7,268

Cree,

Inc.

a

500,911

10,476

CTS

Corporation

208,053

1,300

Cybozu,

Inc.

38,526

14,235

Descartes

Systems

Group,

Inc.

a

801,858

11,371

Dialog

Semiconductor

plc

a

533,017

11,258

DocuSign,

Inc.

a

2,441,072

28,016

Dolby

Laboratories,

Inc.

1,949,914

1,231

Domo,

Inc.

a

39,614

2,349

DSP

Group,

Inc.

a

34,883

2,500

DTS

Corporation

47,839

23,277

Elastic

NV

a

2,239,015

9,237

Endava

plc

ADR

a

477,091

1,945

EPAM

Systems,

Inc.

a

564,206

4,982

ePlus,

Inc.

a

371,358

18,098

Euronet

Worldwide,

Inc.

a

1,739,942

31,781

Eventbrite,

Inc.

a

270,774

6,689

ExlService

Holdings,

Inc.

a

428,497

1,356

eXp

World

Holdings,

Inc.

a

26,944

3,198

F5

Networks,

Inc.

a

434,608

631

Fair

Isaac

Corporation

a

277,129

12,299

Five9,

Inc.

a

1,485,965

733

FLIR

Systems,

Inc.

30,537

36,700

Fuji

Soft,

Inc.

1,655,743

1,800

Fujitsu,

Ltd.

241,011

11,649

Global

Payments,

Inc.

2,073,755

1,100

GMO

Payment

Gateway,

Inc.

115,319

13,594

Guidewire

Software,

Inc.

a

1,599,470

276,779

Halma

plc

7,861,603

14,832

Health

Catalyst,

Inc.

a

517,637

19,200

Hitachi,

Ltd.

575,118

15,900

Hoya

Corporation

1,568,050

6,398

II-VI,

Inc.

a

324,507

5,655

Inphi

Corporation

a

738,882

3,236

InterDigital,

Inc.

194,225

22,068

Intuit,

Inc.

6,760,973

6,700

ITOCHU

Techno-Solutions

Corporation

272,120

1,698

Jack

Henry

&

Associates,

Inc.

302,753

3,400

Japan

Material

Company,

Ltd.

51,763

7,862

Juniper

Networks,

Inc.

199,538

300

Kanematsu

Electronics,

Ltd.

11,515

7,300

Keyence

Corporation

3,078,316

3,990

Lam

Research

Corporation

1,504,868

6,200

Lasertec

Corporation

547,426

25,123

Lattice

Semiconductor

Corporation

a

781,074

749

Littelfuse,

Inc.

133,060

20,871

Lumentum

Holdings,

Inc.

a

1,937,455

2,911

ManTech

International

Corporation

202,547

47,947

MasterCard,

Inc.

14,793,088

28,672

Medallia,

Inc.

a

881,091

6,796

Methode

Electronics,

Inc.

191,647

204,584

Microsoft

Corporation

41,941,766

5,225

MicroStrategy,

Inc.

a

647,482

Shares

Common

Stock

(83.2%)

Value

Information

Technology

(18.1%)

-

continued

17,760

MKS

Instruments,

Inc.

$

2,263,334

4,271

MoneyGram

International,

Inc.

a

14,863

19,038

Monolithic

Power

Systems,

Inc.

5,045,260

1,147

Motorola

Solutions,

Inc.

160,351

9,258

MTS

Systems

Corporation

171,736

5,600

Murata

Manufacturing

Company,

Ltd.

359,692

3,673

National

Instruments

Corporation

130,392

121,900

NEC

Networks

&

System

Integration

Corporation

2,589,635

338

NetApp,

Inc.

14,973

5,032

Nice,

Ltd.

ADR

a

1,032,768

9,172

Nova

Measuring

Instruments,

Ltd.

a

471,441

4,844

Novanta,

Inc.

a

502,226

5,400

NS

Solutions

Corporation

142,204

5,000

NSD

Company,

Ltd.

90,924

2,900

NTT

Data

Corporation

32,971

26,751

NVIDIA

Corporation

11,358,207

1,500

OBIC

Company,

Ltd.

268,994

34,970

Oracle

Corporation

1,939,087

6,400

Oracle

Corporation

Japan

770,959

5,500

Otsuka

Corporation

286,766

6,025

Palo

Alto

Networks,

Inc.

a

1,541,918

40,621

PayPal

Holdings,

Inc.

a

7,964,559

2,455

Progress

Software

Corporation

85,581

4,950

Proofpoint,

Inc.

a

572,567

9,424

Q2

Holdings,

Inc.

a

886,327

5,357

QAD,

Inc.

211,655

28,281

QUALCOMM,

Inc.

2,986,756

644

Qualys,

Inc.

a

79,521

6,115

Rogers

Corporation

a

728,847

17,700

Ryoyo

Electro

Corporation

c

492,897

16,638

Sage

Group

plc

157,893

34,814

SailPoint

Technologies

Holdings,

Inc.

a

1,096,641

14,171

Salesforce.com,

Inc.

a

2,761,219

3,106

Samsung

Electronics

Company,

Ltd.

GDR

3,766,627

3,742

SAP

SE

590,689

5,065

ScanSource,

Inc.

a

116,242

2,254

Semtech

Corporation

a

125,615

28,634

ServiceNow,

Inc.

a

12,576,053

2,238

Silicon

Laboratories,

Inc.

a

224,941

51,705

Square,

Inc.

a

6,713,894

44,489

STMicroelectronics

NV

ADR

1,243,023

6,969

Synopsys,

Inc.

a

1,388,364

5,435

TE

Connectivity,

Ltd.

484,095

3,813

Technology

One,

Ltd.

22,882

59,060

Texas

Instruments,

Inc.

7,533,103

10,500

TIS,

Inc.

224,864

8,200

Tokyo

Electron,

Ltd.

2,269,082

229

Tyler

Technologies,

Inc.

a

81,810

3,573

VeriSign,

Inc.

a

756,333

92,495

Visa,

Inc.

17,611,048

11,161

VMware,

Inc.

a

1,564,884

5,011

WEX,

Inc.

a

793,592

9,397

Zscaler,

Inc.

a

1,220,200

Total

311,921,707

Materials

(4.0%)

6,193

AdvanSix,

Inc.

a

77,103

5,507

Air

Liquide

SA

905,795

88,200

Air

Water,

Inc.

1,143,567

38,958

Anglo

American

plc

943,101

5,318

AptarGroup,

Inc.

612,634

2,308

Avery

Dennison

Corporation

261,589

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

53

Shares

Common

Stock

(83.2%)

Value

Materials

(4.0%)

-

continued

80,501

Axalta

Coating

Systems,

Ltd.

a

$

1,787,122

266

Balchem

Corporation

26,669

8,161

Barrick

Gold

Corporation

235,852

42,462

BHP

Group,

Ltd.

1,117,974

4,334

Cabot

Corporation

158,104

2,143

Celanese

Corporation

208,300

38,540

Centamin

plc

103,169

83,251

CF

Industries

Holdings,

Inc.

2,608,254

17,420

Chemours

Company

322,793

931

Christian

Hansen

Holding

AS

106,239

31,089

Croda

International

plc

2,320,313

61,984

Eastman

Chemical

Company

4,625,866

21,193

Ecolab,

Inc.

3,964,786

1,289

EMS-CHEMIE

Holding

AG

1,113,142

3,067

Eramet

SA

a

83,525

512

Givaudan

SA

2,120,562

101,151

Granges

AB

a

817,031

2,119

Hecla

Mining

Company

11,697

153,919

Hexpol

AB

a

1,024,114

102,369

Hochschild

Mining

plc

362,751

11,175

Holmen

AB

385,138

182,525

IAMGOLD

Corporation

a,c

908,975

4,355

IMCD

NV

450,341

3,069

Ingevity

Corporation

a

179,475

10,010

Innospec,

Inc.

752,452

11,937

Kaiser

Aluminum

Corporation

739,497

55,618

Koninklijke

DSM

NV

8,513,241

4,392

Kraton

Performance

Polymers,

Inc.

a

57,755

79,400

Kyoei

Steel,

Ltd.

944,061

10,400

Lintec

Corporation

242,652

39,790

Louisiana-Pacific

Corporation

1,260,149

6,052

MAG

Silver

Corporation

a

102,249

7,735

Martin

Marietta

Materials,

Inc.

1,602,537

6,630

Materion

Corporation

380,695

5,700

Minerals

Technologies,

Inc.

267,216

13,630

Myers

Industries,

Inc.

205,268

9,871

Neenah,

Inc.

440,345

159,100

Nippon

Steel

Corporation

1,304,520

1,200

Nippon

Steel

Trading

Corporation

35,779

29,031

Northern

Star

Resources,

Ltd.

329,494

6,545

Novozymes

AS

391,517

48,781

Nucor

Corporation

2,046,363

6,579

Olin

Corporation

73,948

1,818

Olympic

Steel,

Inc.

19,234

6,975

Osisko

Gold

Royalties,

Ltd.

81,756

5,319

PPG

Industries,

Inc.

572,590

5,315

Quaker

Chemical

Corporation

1,031,110

54,325

Ramelius

Resources,

Ltd.

85,877

2,608

Reliance

Steel

&

Aluminum

Company

256,262

23,771

Rio

Tinto

plc

1,446,998

25,816

Rio

Tinto,

Ltd.

1,889,436

1,658

RPM

International,

Inc.

135,276

7,354

Ryerson

Holding

Corporation

a

41,403

223,228

Sandfire

Resources,

Ltd.

758,673

4,466

Sensient

Technologies

Corporation

233,170

3,900

Shin-Etsu

Chemical

Company,

Ltd.

456,451

16,366

Sika

AG

3,596,136

96,099

Silver

Lake

Resources,

Ltd.

a

172,006

18,388

Steel

Dynamics,

Inc.

504,015

222,400

Sumitomo

Chemical

Company,

Ltd.

641,761

20,344

Symrise

AG

2,543,226

13,500

Taiyo

Holdings

Company,

Ltd.

637,775

58,600

Toagosei

Company,

Ltd.

558,695

Shares

Common

Stock

(83.2%)

Value

Materials

(4.0%)

-

continued

405,500

Toray

Industries,

Inc.

$

1,755,232

39,700

Ube

Industries,

Ltd.

648,386

7,765

United

States

Steel

Corporation

51,715

101,786

UPM-Kymmene

Oyj

2,717,049

1,257

W.

R.

Grace

&

Company

57,985

1,854

Worthington

Industries,

Inc.

69,377

Total

69,637,313

Real

Estate

(3.8%)

28,770

Agree

Realty

Corporation

1,926,727

51,564

Allied

Properties

REIT

1,544,091

53,163

Alstria

Office

REIT

AG

a

794,693

46,916

American

Campus

Communities,

Inc.

1,672,086

20,680

American

Tower

Corporation

5,405,545

12,733

Apartment

Investment

&

Management

Company

494,295

8,218

Armada

Hoffler

Properties,

Inc.

79,222

993,488

Ascendas

REIT

2,571,609

131,500

Ascott

Trust

86,319

2,719

Ashford

Hospitality

Trust,

Inc.

10,658

11,440

AvalonBay

Communities,

Inc.

1,751,693

466

BBX

Capital

Corporation

6,487

138

Bluerock

Residential

Growth

REIT,

Inc.

999

12,638

Camden

Property

Trust

1,147,657

8,758

CareTrust

REIT,

Inc.

157,819

71,145

Castellum

AB

1,530,082

25,013

CBL

&

Associates

Properties,

Inc.

a

4,572

57,432

CBRE

Group,

Inc.

a

2,516,096

29,663

Cedar

Realty

Trust,

Inc.

24,131

48,891

Choice

Properties

REIT

462,830

4,223

City

Office

REIT,

Inc.

36,529

1,898

Cofinimmo

SA

270,910

4,200

Colony

Credit

Real

Estate,

Inc.

26,460

4,750

Columbia

Property

Trust,

Inc.

56,810

270

Community

Healthcare

Trust,

Inc.

12,347

3,538

Corepoint

Lodging,

Inc.

19,777

3,402

CoreSite

Realty

Corporation

439,028

2,692

CoStar

Group,

Inc.

a

2,287,554

1,551

CyrusOne,

Inc.

129,384

25,300

Daito

Trust

Construction

Company,

Ltd.

1,984,083

11,964

Diversified

Healthcare

Trust

46,600

972

Easterly

Government

Properties,

Inc.

23,765

956

EastGroup

Properties,

Inc.

126,823

20,053

Entra

ASA

b

283,086

5,850

EPR

Properties

167,486

5,188

Equity

Lifestyle

Properties,

Inc.

354,444

30,092

Essential

Properties

Realty

Trust,

Inc.

484,481

1,324

Essex

Property

Trust,

Inc.

292,260

4,680

Farmland

Partners,

Inc.

32,339

26,610

First

Industrial

Realty

Trust,

Inc.

1,168,711

6,920

FirstService

Corporation

827,286

10,348

Four

Corners

Property

Trust,

Inc.

260,770

2,494

Franklin

Street

Properties

Corporation

13,094

33

Fukuoka

REIT

Corporation

38,301

6,946

Gaming

and

Leisure

Properties,

Inc.

251,515

6,238

Getty

Realty

Corporation

184,832

4,324

Gladstone

Commercial

Corporation

78,697

75,480

Granite

REIT

4,389,781

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

54

Shares

Common

Stock

(83.2%)

Value

Real

Estate

(3.8%)

-

continued

23

Hankyu

REIT,

Inc.

$

24,765

10,399

Healthcare

Realty

Trust,

Inc.

304,691

8,276

Healthcare

Trust

of

America,

Inc.

228,500

84,812

Host

Hotels

&

Resorts,

Inc.

914,273

2,397

Hudson

Pacific

Properties,

Inc.

56,497

112,000

Hysan

Development

Company,

Ltd.

309,419

7,411

Industrial

Logistics

Properties

Trust

156,446

2,833

Innovative

Industrial

Properties,

Inc.

295,284

2,186

Investors

Real

Estate

Trust

158,048

1,650

Japan

Hotel

REIT

Investment

Corporation

598,519

3,940

Jones

Lang

LaSalle,

Inc.

389,705

25,824

Kilroy

Realty

Corporation

1,504,764

13,835

Kungsleden

AB

111,901

2,293

Lamar

Advertising

Company

150,719

167

LEG

Immobilien

AG

23,286

6,094

Lexington

Realty

Trust

70,690

259,200

Mapletree

Commercial

Trust

349,018

44,140

Medical

Properties

Trust,

Inc.

888,538

1,212

MGM

Growth

Properties

LLC

33,136

74

Mori

Trust

Sogo

REIT,

Inc.

86,375

949

National

Health

Investors,

Inc.

58,838

14,979

National

Retail

Properties,

Inc.

531,006

42,182

National

Storage

Affiliates

Trust

1,300,049

22,247

New

Residential

Investment

Corporation

176,419

6,560

New

Senior

Investment

Group,

Inc.

22,304

10,130

NexPoint

Residential

Trust,

Inc.

387,270

139

Nomura

Real

Estate

Master

Fund,

Inc.

172,383

7,870

Omega

Healthcare

Investors,

Inc.

254,831

3,785

One

Liberty

Properties,

Inc.

64,231

3,810

Physicians

Realty

Trust

68,732

2,882

PotlatchDeltic

Corporation

123,378

7,813

Preferred

Apartment

Communities,

Inc.

56,488

1,383

PS

Business

Parks,

Inc.

190,785

48,873

PSP

Swiss

Property

AG

5,429,249

3,070

QTS

Realty

Trust,

Inc.

220,887

108,173

Quebecor,

Inc.

2,468,003

15,864

Retail

Properties

of

America,

Inc.

100,895

13,977

Rexford

Industrial

Realty,

Inc.

655,941

28,728

RioCan

REIT

320,856

605

RMR

Group,

Inc.

17,400

181,000

Road

King

Infrastructure,

Ltd.

243,482

27,031

Sabra

Health

Care

REIT,

Inc.

398,437

3,715

SBA

Communications

Corporation

1,157,371

45,525

Service

Properties

Trust

305,018

5,982

Spirit

Realty

Capital,

Inc.

206,140

7,189

STAG

Industrial,

Inc.

234,361

9,838

Store

Capital

Corporation

233,062

17,771

Swiss

Prime

Site

AG

1,621,844

166,478

TAG

Immobilien

AG

4,377,446

7,671

UDR,

Inc.

277,690

3,819

UMH

Properties,

Inc.

46,974

6,502

Unibail-Rodamco-Westfield

341,061

163

United

Urban

Investment

Corporation

158,513

21,547

Uniti

Group,

Inc.

213,315

160

Universal

Health

Realty

Income

Trust

11,133

33,034

Waypoint

REIT,

Ltd.

59,495

421,100

Wing

Tai

Holdings,

Ltd.

524,509

Shares

Common

Stock

(83.2%)

Value

Real

Estate

(3.8%)

-

continued

2,788

WP

Carey,

Inc.

$

198,980

Total

66,358,114

Utilities

(1.0%)

38,459

AGL

Energy,

Ltd.

455,564

1,906

ALLETE,

Inc.

113,026

4,575

Artesian

Resources

Corporation

160,491

2,537

Black

Hills

Corporation

146,791

1,080

Chesapeake

Utilities

Corporation

91,249

4,063

Consolidated

Water

Company,

Ltd.

49,853

2,274

DTE

Energy

Company

262,943

35,040

Duke

Energy

Corporation

2,969,290

106,563

Enagas

SA

2,688,521

27,475

Enel

SPA

251,686

17,780

Entergy

Corporation

1,869,211

1,719

Essential

Utilities,

Inc.

77,957

43,318

Exelon

Corporation

1,672,508

45,033

FirstEnergy

Corporation

1,305,957

4,291

Hawaiian

Electric

Industries,

Inc.

155,592

2,911

IDACORP,

Inc.

271,451

4,159

MDU

Resources

Group,

Inc.

87,256

655

Middlesex

Water

Company

41,959

1,746

National

Fuel

Gas

Company

70,835

7,322

New

Jersey

Resources

Corporation

227,421

4,627

NextEra

Energy,

Inc.

1,298,799

27,624

Northland

Power,

Inc.

756,878

990

Northwest

Natural

Holding

Company

52,955

7,125

OGE

Energy

Corporation

234,412

2,982

Otter

Tail

Corporation

114,061

7,220

PNM

Resources,

Inc.

304,901

1,331

South

Jersey

Industries,

Inc.

31,052

3,361

Southwest

Gas

Holdings,

Inc.

234,060

2,399

Spire,

Inc.

147,922

10,223

UGI

Corporation

340,835

1,791

Unitil

Corporation

77,282

Total

16,562,718

Total

Common

Stock

(cost

$1,177,942,716)

1,436,409,231

Shares

Registered

Investment

Companies

(

4.2%

)

Value

Unaffiliated  (2.5%)

628,028

iShares

Russell

Mid

Cap

ETF

35,653,150

20,705

SPDR

S&P

500

ETF

Trust

6,760,597

10,514

SPDR

S&P

Regional

Banking

ETF

395,116

4,440

Utilities

Select

Sector

SPDR

Fund

270,085

Total

43,078,948

Affiliated  (1.7%)

2,926,363

Thrivent

Core

Emerging

Markets

Equity

Fund

a

29,585,527

Total

29,585,527

Total

Registered

Investment

Companies

(cost

$70,195,426)

72,664,475

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

55

Shares

Collateral

Held

for

Securities

Loaned

(

0.1%

)

Value

2,664,731

Thrivent

Cash

Management

Trust

$

2,664,731

Total

Collateral

Held

for

Securities

Loaned

(cost

$2,664,731)

2,664,731

Shares

or

Principal

Amount

Short-Term

Investments

(

12.6%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

7,900,000

0.177%,

8/4/2020

d,e

7,899,985

300,000

0.114%,

8/7/2020

d,e

299,998

2,600,000

0.125%,

8/11/2020

d,e

2,599,959

300,000

0.125%,

8/12/2020

d,e

299,995

1,800,000

0.120%,

8/14/2020

d,e

1,799,961

1,300,000

0.143%,

8/19/2020

d,e

1,299,960

7,200,000

0.105%,

8/25/2020

d,e

7,199,692

200,000

0.145%,

8/26/2020

d,e

199,991

900,000

0.120%,

9/1/2020

d,e

899,935

2,500,000

0.153%,

9/2/2020

d,e

2,499,812

200,000

0.140%,

9/10/2020

d,e

199,981

400,000

0.080%,

9/14/2020

d,e

399,958

7,900,000

0.112%,

9/15/2020

d,e

7,899,151

8,600,000

0.090%,

9/16/2020

d,e

8,599,054

4,300,000

0.090%,

9/17/2020

d,e

4,299,516

400,000

0.090%,

9/22/2020

d,e

399,950

4,700,000

0.090%,

9/23/2020

d,e

4,699,401

500,000

0.088%,

9/25/2020

d,e

499,934

7,700,000

0.090%,

11/6/2020

d,e

7,698,171

Thrivent

Core

Short-Term

Reserve

Fund

15,743,218

0.500%

157,589,612

Total

Short-Term

Investments

(cost

$217,088,349)

217,284,016

Total

Investments

(cost

$1,467,891,222)

100.1%

$1,729,022,453

Other

Assets

and

Liabilities,

Net

(0.1%)

(2,405,696)

Total

Net

Assets

100.0%

$1,726,616,757

a

Non-income

producing

security.

b

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$17,847,470

or

1.0%

of

total

net

assets.

c

All

or

a

portion

of

the

security

is

on

loan.

d

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

e

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Global

Stock

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Common

Stock

$

2,517,728

Total

lending

$2,517,728

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$2,664,731

Net

amounts

due

to

counterparty

$147,003

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

ETF

-

Exchange

Traded

Fund

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

56

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Global

Stock

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

105,161,826

79,312,573

25,849,253

–

Consumer

Discretionary

176,291,886

136,765,066

39,526,820

–

Consumer

Staples

50,755,801

20,051,279

30,704,522

–

Energy

40,458,552

22,194,547

18,264,005

–

Financials

199,473,030

104,932,689

94,540,341

–

Health

Care

226,057,507

149,592,418

76,465,089

–

Industrials

173,730,777

91,381,570

82,349,207

–

Information

Technology

311,921,707

259,837,872

52,083,835

–

Materials

69,637,313

26,551,729

43,085,584

–

Real

Estate

66,358,114

35,182,205

31,175,909

–

Utilities

16,562,718

12,410,069

4,152,649

–

Registered

Investment

Companies

Unaffiliated

43,078,948

43,078,948

–

–

Short-Term

Investments

59,694,404

–

59,694,404

–

Subtotal

Investments

in

Securities

$1,539,182,583

$981,290,965

$557,891,618

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

157,589,612

Affiliated

Registered

Investment

Companies

29,585,527

Collateral

Held

for

Securities

Loaned

2,664,731

Subtotal

Other

Investments

$189,839,870

Total

Investments

at

Value

$1,729,022,453

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

20,721,819

20,721,819

–

–

Total

Asset

Derivatives

$20,721,819

$20,721,819

$–

$–

Liability

Derivatives

Futures

Contracts

7,084,683

7,084,683

–

–

Total

Liability

Derivatives

$7,084,683

$7,084,683

$–

$–

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

57

Reference

Description:

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

The

following

table

presents

Global

Stock

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$59,494,425

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CME

E-mini

Russell

2000

Index

6

September

2020

$

435,021

$

8,319

CME

E-mini

S&P

500

Index

738

September

2020

112,637,034

7,786,116

CME

E-mini

S&P

Mid-Cap

400

Index

2

September

2020

352,966

19,134

CME

Euro

Foreign

Exchange

Currency

762

September

2020

109,205,520

3,184,718

Eurex

Euro

STOXX

50

Index

2,889

September

2020

109,698,342

(

1,887,898)

ICE

US

mini

MSCI

Emerging

Markets

Index

1,937

September

2020

93,838,172

9,723,532

Total

Futures

Long

Contracts

$

426,167,055

$

18,833,921

CME

E-mini

Russell

2000

Index

(778)

September

2020

(

$

53,157,034)

(

$

4,329,386)

CME

E-mini

S&P

500

Index

(179)

September

2020

(

28,668,169)

(

540,156)

ICE

mini

MSCI

EAFE

Index

(484)

September

2020

(

43,561,877)

(

327,243)

Total

Futures

Short

Contracts

(

$

125,387,080)

($5,196,785)

Total

Futures

Contracts

$

300,779,975

$13,637,136

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Global

Stock

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Equity*

$—

$28,000

$–

$29,586

2,926

1.7%

Total

Affiliated

Registered

Investment

Companies

—

29,586

1.7

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

232,344

443,796

518,688

157,590

15,743

9.1

Total

Affiliated

Short-Term

Investments

232,344

157,590

9.1

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

2,240

94,521

94,096

2,665

2,665

0.1

Total

Collateral

Held

for

Securities

Loaned

2,240

2,665

0.1

Total

Value

$234,584

$189,841

*  

Non-income

producing

security.

Global

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

58

Portfolio

Net

Realized

Gain/(Loss)

Ch

ange

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Equity*

$–

$1,586

–

$–

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

(57)

195

1

1,987

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$1,987

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

57

Total

Affiliated

Income

from

Securities

Loaned,

Net

$57

Total

Value

$(57)

$1,781

$1

*  

Non-income

producing

security.

Government

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

59

Principal

Amount

Long-Term

Fixed

Income

(

97.7%

)

Value

Asset-Backed

Securities

(2.5%)

Arkansas

Student

Loan

Authority

$

506,279

1.260%, 

(LIBOR

3M

+

0.900%),

11/25/2043

a

$

500,284

Goodgreen

429,412

3.860%, 

10/15/2054,

Ser.

2019-1A,

Class

A

b

457,017

Navient

Student

Loan

Trust

431,155

0.772%, 

(LIBOR

1M

+

0.600%),

7/26/2066,

Ser.

2017-3A,

Class

A2

a,b

428,243

154,194

0.922%, 

(LIBOR

1M

+

0.750%),

7/26/2066,

Ser.

2017-1A,

Class

A2

a,b

154,078

Northstar

Education

Finance,

Inc.

160,857

0.872%, 

(LIBOR

1M

+

0.700%),

12/26/2031,

Ser.

2012-1,

Class

A

a,b

155,999

SLM

Student

Loan

Trust

164,818

0.572%, 

(LIBOR

1M

+

0.400%),

3/25/2025,

Ser.

2010-1,

Class

A

a

155,736

Total

1,851,357

Collateralized

Mortgage

Obligations

(9.4%)

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

500,000

3.000%, 

10/15/2034,

Ser.

4369,

Class

GV

521,960

178,847

2.000%, 

1/15/2041,

Ser.

4074,

Class

JA

183,368

562,390

1.750%, 

6/15/2042,

Ser.

4097,

Class

QN

573,842

337,587

1.750%, 

12/15/2042,

Ser.

4141,

Class

KM

343,793

324,691

3.000%, 

5/15/2045,

Ser.

4631,

Class

PA

347,093

336,662

3.000%, 

3/15/2047,

Ser.

4734,

Class

JA

358,744

445,196

2.000%, 

9/25/2049,

Ser.

4906,

Class

KE

456,609

Federal

Home

Loan

Mortgage

Corporation

Whole

Loan

Securities

Trust

265,440

3.000%, 

7/25/2046,

Ser.

2016-SC01,

Class

1A

c

271,864

Federal

National

Mortgage

Association

-

REMIC

263,548

2.000%, 

11/25/2032,

Ser.

2012-123,

Class

BA

275,144

557,052

3.000%, 

11/25/2037,

Ser.

2013-88,

Class

EA

563,865

519,624

3.000%, 

6/25/2042,

Ser.

2016-24,

Class

LJ

541,471

371,681

3.250%, 

6/25/2043,

Ser.

2013-60,

Class

PT

400,796

419,960

3.000%, 

3/25/2046,

Ser.

2016-66,

Class

PA

440,429

212,894

3.000%, 

6/25/2046,

Ser.

2017-58,

Class

P

228,371

216,045

3.500%, 

12/25/2047,

Ser.

2018-41,

Class

PB

226,672

Seasoned

Credit

Risk

Transfer

Trust

615,392

3.000%, 

8/25/2056,

Ser.

2017-2,

Class

HA

c

660,723

Principal

Amount

Long-Term

Fixed

Income

(97.7%)

Value

Collateralized

Mortgage

Obligations

(9.4%)

-

continued

$

572,600

2.500%, 

8/25/2059,

Ser.

2020-1,

Class

MT

c

$

612,289

Total

7,007,033

Commercial

Mortgage-Backed

Securities

(3.7%)

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certficates

500,000

1.238%, 

1/25/2035,

Ser.

K-1516,

Class

A1

c

504,558

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

378,816

3.000%, 

3/15/2045,

Ser.

4741,

Class

GA

392,672

Federal

National

Mortgage

Association

500,000

3.830%, 

10/1/2028

576,249

Federal

National

Mortgage

Association

-

ACES

253,857

3.560%, 

9/25/2021,

Ser.

2018-M5,

Class

A2

a

256,735

401,523

3.346%, 

3/25/2024,

Ser.

2014-M4,

Class

A2

a

434,806

160,000

2.961%, 

2/25/2027,

Ser.

2017-M7,

Class

A2

a

177,924

FRESB

Multifamily

Mortgage

Pass-

Through

Trust

395,721

2.950%, 

8/25/2027,

Ser.

2017-SB40,

Class

A10F

a,c

418,777

Total

2,761,721

Energy

(0.3%)

Petroleos

Mexicanos

250,000

2.378%, 

4/15/2025

259,528

Total

259,528

Financials

(3.5%)

HSBC

Bank

Canada

250,000

0.950%, 

5/14/2023

b

252,666

Korea

Development

Bank

500,000

1.074%, 

(LIBOR

3M

+

0.705%),

2/27/2022

a

501,697

Nationwide

Building

Society

250,000

1.700%, 

2/13/2023

b

257,782

Private

Export

Funding

Corporation

1,000,000

2.050%, 

11/15/2022

1,037,872

Santander

UK

plc

300,000

1.625%, 

2/12/2023

b

307,395

Westpac

Banking

Corporation

250,000

2.000%, 

1/16/2025

b

265,178

Total

2,622,590

Foreign

Government

(3.5%)

Development

Bank

of

Japan,

Inc.

250,000

2.125%, 

9/1/2022

b

258,143

Export

Development

Canada

500,000

2.500%, 

1/24/2023

527,524

Jordan

Government

International

Bond

500,000

2.503%, 

10/30/2020

502,702

Government

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

60

Principal

Amount

Long-Term

Fixed

Income

(97.7%)

Value

Foreign

Government

(3.5%)

-

continued

Province

of

British

Columbia

Canada

$

450,000

1.750%, 

9/27/2024

$

474,588

Province

of

Ontario

Canada

250,000

3.400%, 

10/17/2023

273,612

Province

of

Quebec

Canada

500,000

2.750%, 

4/12/2027

562,123

Total

2,598,692

Mortgage-Backed

Securities

(27.9%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

955,107

3.000%, 

2/1/2050

1,018,507

681,448

3.000%, 

3/25/2050

721,614

418,912

3.000%, 

4/1/2050

443,603

400,785

3.500%, 

7/1/2047

424,009

Federal

National

Mortgage

Association

369,620

3.500%, 

10/1/2048

390,313

417,455

3.500%, 

8/1/2049

441,849

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

2,500,000

2.000%, 

8/1/2035

d

2,600,391

1,300,000

2.500%, 

8/1/2035

d

1,364,391

875,000

2.000%, 

9/1/2035

d

908,906

500,000

1.500%, 

10/15/2035

d

510,957

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

750,000

2.000%, 

8/1/2050

d

777,012

7,625,000

2.500%, 

8/1/2050

d,e

8,010,122

1,700,000

2.000%, 

9/1/2050

d,e

1,757,973

375,000

3.000%, 

9/1/2043

d

395,846

457,877

4.000%, 

7/1/2048

486,080

Seasoned

Credit

Risk

Transfer

Trust

494,911

2.000%, 

11/25/2059,

Ser.

2020-2,

Class

MT

c

512,511

Total

20,764,084

U.S.

Government

&

Agencies

(46.9%)

Federal

Farm

Credit

Bank

500,000

2.210%, 

8/1/2024

537,945

Federal

Home

Loan

Bank

500,000

3.250%, 

11/16/2028

599,943

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

406,404

3.500%, 

8/15/2047,

Ser.

4860,

Class

CA

427,039

Tennessee

Valley

Authority

385,000

5.250%, 

9/15/2039

592,175

U.S.

Treasury

Bonds

325,000

2.250%, 

11/15/2027

368,012

115,000

5.500%, 

8/15/2028

161,045

4,785,000

2.625%, 

2/15/2029

5,644,431

3,420,000

1.500%, 

2/15/2030

3,732,342

500,000

4.750%, 

2/15/2037

812,441

120,000

1.125%, 

5/15/2040

123,164

625,000

3.000%, 

5/15/2042

863,110

2,205,000

2.500%, 

5/15/2046

2,856,595

2,015,000

2.875%, 

5/15/2049

2,848,628

U.S.

Treasury

Bonds,

TIPS

519,720

0.500%, 

1/15/2028

582,250

Principal

Amount

Long-Term

Fixed

Income

(97.7%)

Value

U.S.

Government

&

Agencies

(46.9%)

-

continued

$

361,131

0.875%, 

2/15/2047

$

493,757

U.S.

Treasury

Notes

900,000

1.125%, 

2/28/2022

914,063

875,000

1.375%, 

2/15/2023

902,754

675,000

2.500%, 

1/31/2024

730,160

3,500,000

2.125%, 

11/30/2024

3,791,074

3,150,000

2.875%, 

7/31/2025

3,563,930

1,125,000

2.625%, 

1/31/2026

1,269,316

250,000

1.750%, 

12/31/2026

272,158

2,000,000

0.500%, 

4/30/2027

2,016,250

U.S.

Treasury

Notes,

TIPS

799,464

0.125%, 

10/15/2024

848,325

Total

34,950,907

Total

Long-Term

Fixed

Income

(cost

$67,929,842)

72,815,912

Shares

or

Principal

Amount

Short-Term

Investments

(

22.8%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

200,000

0.090%,

9/15/2020

f,g

199,979

Thrivent

Core

Short-Term

Reserve

Fund

1,675,235

0.500%

16,769,096

Total

Short-Term

Investments

(cost

$16,950,612)

16,969,075

Total

Investments

(cost

$84,880,454)

120.5%

$89,784,987

Other

Assets

and

Liabilities,

Net

(20.5%)

(15,290,829)

Total

Net

Assets

100.0%

$74,494,158

a

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

b

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$2,536,501

or

3.4%

of

total

net

assets.

c

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

d

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

e

All

or

a

portion

of

the

security

was

earmarked

to

cover

written

options.

f

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

g

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

Government

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

61

Definitions:

ACES

-

Alternative

Credit

Enhancement

Securities

FNMA

-

Federal

National

Mortgage

Association

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

Ser.

-

Series

TIPS

-

Treasury

Inflation

Protected

Security

Reference

Rate

Index:

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Government

Bond

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Long-Term

Fixed

Income

Asset-Backed

Securities

1,851,357

–

1,851,357

–

Collateralized

Mortgage

Obligations

7,007,033

–

7,007,033

–

Commercial

Mortgage-Backed

Securities

2,761,721

–

2,761,721

–

Energy

259,528

–

259,528

–

Financials

2,622,590

–

2,622,590

–

Foreign

Government

2,598,692

–

2,598,692

–

Mortgage-Backed

Securities

20,764,084

–

20,764,084

–

U.S.

Government

&

Agencies

34,950,907

–

34,950,907

–

Short-Term

Investments

199,979

–

199,979

–

Subtotal

Investments

in

Securities

$73,015,891

$–

$73,015,891

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

16,769,096

Subtotal

Other

Investments

$16,769,096

Total

Investments

at

Value

$89,784,987

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

146,263

146,263

–

–

Total

Asset

Derivatives

$146,263

$146,263

$–

$–

Liability

Derivatives

Futures

Contracts

138,296

138,296

–

–

Call

Options

Written

12,912

–

–

12,912

Total

Liability

Derivatives

$151,208

$138,296

$–

$12,912

Government

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

62

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

Counterparty:

JPM

-

J.P.

Morgan

MSC

-

Morgan

Stanley

&

Company

The

following

table

presents

Government

Bond

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$199,979

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

2-Yr.

U.S.

Treasury

Note

28

September

2020

$

6,182,617

$

4,946

CBOT

5-Yr.

U.S.

Treasury

Note

14

September

2020

1,752,997

12,753

CBOT

U.S.

Long

Bond

14

September

2020

2,463,986

87,952

CME

Ultra

Long

Term

U.S.

Treasury

Bond

4

September

2020

870,138

40,612

Total

Futures

Long

Contracts

$

11,269,738

$

146,263

CBOT

10-Yr.

U.S.

Treasury

Note

(39)

September

2020

(

$

5,402,593)

(

$

60,454)

Ultra

10-Yr.

U.S.

Treasury

Note

(29)

September

2020

(

4,540,408)

(

77,842)

Total

Futures

Short

Contracts

(

$

9,943,001)

($138,296)

Total

Futures

Contracts

$

1,326,737

$7,967

The

following

table

presents

Government

Bond

Fund's

options

contracts

held

as

of

July

31,

2020.

Option

_

Description

(Underlying

Security

Description)

Counter-

party

Number

of

Contracts

Exercise

Price

Expiration

Date

Notional

Principal

Amount

Value

Unrealized

Appreciation/

(Depreciation)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

JPM

(2)

$

104.20

August

2020

(1,575,762)

(

$

13,125)

(

$

9,316)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

MSC

(1)

102.64

September

2020

(754,894)

(

8,127)

(

3,596)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

Total

Options

Written

Contracts

($21,252)

($12,912)

(*)  Security

is

valued

using

significant

unobservable

inputs.

Market

quotations

or

prices

were

not

readily

available

or

were

determined

to

be

unreliable.

Value

was

determined

in

good

faith

pursuant

to

procedures

adopted

by

the

Board.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

Government

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

63

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

 The

Fund

owns

shares

of

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities. 

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Government

Bond

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$10,260

$32,848

$26,348

$16,769

1,675

22.5%

Total

Affiliated

Short-Term

Investments

10,260

16,769

22.5

Total

Value

$10,260

$16,769

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(9)

$18

$0

$136

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$136

Total

$(9)

$18

$0

High

Income

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

64

Principal

Amount

Long-Term

Fixed

Income

(

98.1%

)

Value

California

(6.2%)

California

County

Tobacco

Securitization

Agency

$

250,000

4.000%,

6/1/2049,

Ser.

A

$

280,860

California

Municipal

Finance

Auth.

Fac.

Rev.

(United

Airlines,

Inc.)

250,000

4.000%,

7/15/2029,

AMT

250,742

California

Municipal

Finance

Auth.

Rev.

(LINXS

APM)

225,000

5.000%,

12/31/2043,

Ser.

A,

AMT

261,567

California

Pollution

Control

Financing

Auth.

Rev.

Refg

.

(San

Diego

County

Water

Auth.

Desalination)

250,000

5.000%,

7/1/2039

a

293,810

Total

1,086,979

Colorado

(7.8%)

Colorado

Educational

and

Cultural

Fac.

Auth.

Charter

School

Rev.

Refg

.

(Union

Colony

School)

225,000

5.000%,

4/1/2048

264,724

Colorado

High

Performance

Transportation

Enterprise

Rev.

225,000

5.000%,

12/31/2056

241,799

Colorado

State

Health

Fac.

Auth.

Hospital

Rev.

Refg

.

(

Commonspirit

Health

Obligated

Group)

350,000

4.000%,

8/1/2049,

Ser.

A-2

388,717

Denver,

CO

Health

and

Hospital

Auth.

Healthcare

Rev.

230,000

5.000%,

12/1/2039,

Ser.

A

248,717

Denver,

CO

Urban

Renewal

Auth.

Rev.

(9th

and

Colorado

Urban

Redevelopment

Area)

225,000

5.250%,

12/1/2039,

Ser.

A

a

229,590

Total

1,373,547

Connecticut

(1.5%)

Connecticut

State

Health

and

Educational

Fac.

Auth.

Rev.

(McLean

Issue)

250,000

5.000%,

1/1/2045,

Ser.

A

a

263,097

Total

263,097

Delaware

(1.3%)

Kent

County,

DE

Student

Housing

and

Dining

Fac.

Rev.

(CHF-

Dover,

LLC

-

Delaware

State

University)

230,000

5.000%,

7/1/2040,

Ser.

A

224,604

Total

224,604

Florida

(4.3%)

Florida

State

Higher

Educational

Fac.

Financing

Auth.

Rev.

(Ringling

College)

300,000

5.000%,

3/1/2049

324,240

Orange

County,

FL

Health

Fac.

Auth.

Hospital

Rev.

(Orlando

Health

Obligated

Group)

250,000

5.000%,

10/1/2047,

Ser.

A

301,600

Principal

Amount

Long-Term

Fixed

Income

(98.1%)

Value

Florida

(4.3%)

-

continued

Osceola

County,

FL

Transportation

Rev.

Refg

.

$

300,000

Zero

Coupon,

10/1/2043,

Ser.

A-2

$

136,080

Total

761,920

Georgia

(4.5%)

DeKalb

County,

GA

Housing

Auth.

Senior

Living

Rev.

Refg

.

(Baptist

Retirement

Communities

of

Georgia,

Inc.

and

Clairmont

Crest,

Inc.)

250,000

5.125%,

1/1/2049,

Ser.

A

a

193,005

Main

Street

Natural

Gas,

Inc.

Rev.

250,000

5.000%,

5/15/2028,

Ser.

A

309,898

Municipal

Electric

Auth.

of

Georgia

Rev.

(Plant

Vogtle

Units

3

&

4)

250,000

5.000%,

1/1/2056,

Ser.

A

296,910

Total

799,813

Illinois

(5.7%)

Chicago,

IL

G.O.

250,000

5.000%,

1/1/2039,

Ser.

A

274,800

Illinois

Finance

Auth.

Student

Housing

and

Academic

Fac.

Rev.

(University

of

Illinois

at

Chicago)

150,000

5.000%,

2/15/2037

154,475

Illinois

State

G.O.

235,000

5.000%,

12/1/2025,

Ser.

B

265,122

Metropolitan

Pier

and

Exposition

Auth.,

IL

Rev.

(McCormick

Place

Expansion)

(NATL-RE

Insured)

115,000

Zero

Coupon,

6/15/2035,

Ser.

A

b

69,059

Metropolitan

Pier

and

Exposition

Auth.,

IL

Rev.

Refg

.

(McCormick

Place

Expansion)

(NATL-RE

Insured)

220,000

5.500%,

6/15/2029,

Ser.

A

b

250,617

Total

1,014,073

Iowa

(1.8%)

Iowa

Finance

Auth.

Rev.

(

Lifespace

Communities,

Inc.)

150,000

5.000%,

5/15/2032,

Ser.

A

159,977

150,000

5.000%,

5/15/2043,

Ser.

A

157,008

Total

316,985

Maryland

(2.5%)

Maryland

Economic

Development

Corporation

Rev.

(Seagirt

Marine

Terminal)

200,000

5.000%,

6/1/2044,

Ser.

A,

AMT

218,810

Prince

George's

County,

MD

(West

Phalia

Town

Center)

200,000

5.000%,

7/1/2030

a

216,388

Total

435,198

Michigan

(3.7%)

Downriver

Utility

Wastewater

Auth.

Rev.

Refg

.

(AGM

Insured)

225,000

5.000%,

4/1/2031

b

288,445

High

Income

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

65

Principal

Amount

Long-Term

Fixed

Income

(98.1%)

Value

Michigan

(3.7%)

-

continued

Michigan

Strategic

Fund

Limited

Obligation

Rev.

(I-75

Improvement)

$

100,000

5.000%,

12/31/2033,

AMT

$

115,704

Michigan

Strategic

Rev.

225,000

5.000%,

12/31/2043,

AMT

253,184

Total

657,333

Minnesota

(2.7%)

Deephaven

,

MN

Charter

School

Lease

Rev.

(Eagle

Ridge

Academy)

250,000

5.000%,

7/1/2043,

Ser.

A

269,865

St.

Joseph,

MN

Senior

Housing

&

Healthcare

Rev.

(Woodcrest

of

Country

Manor)

225,000

5.000%,

7/1/2055,

Ser.

A

212,600

Total

482,465

Missouri

(3.5%)

Kansas

City,

MO

Industrial

Development

Auth.

Rev.

(Kansas

City

International

Airport

Terminal

Modernization)

200,000

5.000%,

3/1/2046,

Ser.

B,

AMT

238,012

Lee's

Summit,

MO

Industrial

Development

Auth.

Senior

Living

Fac.

Rev.

Refg

.

(John

Knox

Village)

140,000

5.000%,

8/15/2042,

Ser.

A

142,780

Missouri

Health

and

Educational

Fac.

Auth.

Rev.

(Maryville

University

of

St.

Louis)

200,000

5.000%,

6/15/2045,

Ser.

A

235,898

Total

616,690

Nebraska

(1.5%)

Douglas

County,

NE

Hospital

Auth.

No.

2

Health

Fac.

Rev.

(Children's

Hospital

Obligated

Group)

225,000

5.000%,

11/15/2047

265,214

Total

265,214

Nevada

(1.5%)

Carson

City,

NV

Hospital

Rev.

Refg

.

(Carson

Tahoe

Regional

Medical

Center)

225,000

5.000%,

9/1/2042,

Ser.

A

261,090

Total

261,090

New

Hampshire

(2.1%)

New

Hampshire

Health

and

Education

Fac.

Auth.

Rev.

250,000

5.000%,

8/1/2059,

Ser.

A

380,605

Total

380,605

New

Jersey

(4.2%)

New

Jersey

Economic

Development

Auth.

Rev.

(White

Horse

Urban

Renewal,

LLC)

150,000

5.000%,

1/1/2040

a

142,247

Principal

Amount

Long-Term

Fixed

Income

(98.1%)

Value

New

Jersey

(4.2%)

-

continued

New

Jersey

Transportation

Trust

Fund

Auth.

Rev.

$

225,000

5.000%,

6/15/2045,

Ser.

AA

$

245,180

Tobacco

Settlement

Financing

Corporation

Rev.

Refg

.

300,000

5.250%,

6/1/2046,

Ser.

A

355,251

Total

742,678

New

York

(4.4%)

Metropolitan

Transportation

Auth.

NY

Rev.

250,000

5.000%,

11/15/2045,

Ser.

A-2

c

287,523

New

York

City

Trust

for

Cultural

Resources

Rev.

Refg

.

(Carnegie

Hall)

200,000

5.000%,

12/1/2039

240,502

New

York

Transportation

Development

Corporation

Special

Fac.

Rev.

(LaGuardia

Airport

)

225,000

5.000%,

1/1/2036,

AMT

245,810

Total

773,835

North

Dakota

(1.5%)

University

of

North

Dakota

C.O.P.

(Infrastructure

Energy

Improvement)

225,000

5.000%,

4/1/2048,

Ser.

A

270,288

Total

270,288

Ohio

(3.4%)

Buckeye,

OH

Tobacco

Settlement

Financing

Auth.

Rev.

Refg

.

200,000

5.000%,

6/1/2055,

Ser.

B-2

220,404

Franklin

County,

OH

Convention

Fac.

Auth.

Rev.

(Greater

Columbus

Convention

Center

Hotel)

275,000

5.000%,

12/1/2051

267,107

Ohio

Higher

Educational

Fac.

Commission

Rev.

Refg

.

(University

of

Findlay)

100,000

5.000%,

3/1/2034

109,437

Total

596,948

Pennsylvania

(6.6%)

Lancaster

County,

PA

Hospital

Auth.

Rev.

Refg

.

(St.

Anne's

Retirement

Community,

Inc.)

250,000

5.000%,

3/1/2050

253,823

Pennsylvania

Economic

Development

Financial

Auth.

Solid

Waste

Disposal

Rev.

(

CarbonLite

P,

LLC)

250,000

5.750%,

6/1/2036,

AMT

a

245,650

Pennsylvania

Turnpike

Commission

Rev.

(BAM

Insured)

200,000

Zero

Coupon,

12/1/2041,

Ser.

A-3

b

125,984

Pennsylvania

Turnpike

Commission

Rev.

Refg

.

225,000

5.000%,

12/1/2032

282,447

High

Income

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

66

Principal

Amount

Long-Term

Fixed

Income

(98.1%)

Value

Pennsylvania

(6.6%)

-

continued

Philadelphia,

PA

Auth.

for

Industrial

Development

Rev.

(Cathedral

Village)

$

250,000

5.000%,

4/1/2039

$

257,570

Total

1,165,474

Puerto

Rico

(2.4%)

Puerto

Rico

Sales

Tax

Financing

Corporation

Rev.

398,000

4.550%,

7/1/2040,

Ser.

A-1

420,451

Total

420,451

South

Carolina

(2.1%)

South

Carolina

Jobs

Economic

Development

Auth.

Rev.

(Bishop

Gadsden

Episcopal

Retirement

Community)

200,000

5.000%,

4/1/2054,

Ser.

A

216,740

South

Carolina

Jobs

Economic

Development

Auth.

Rev.

(Woodlands

at

Furman)

155,000

5.000%,

11/15/2054,

Ser.

A

153,731

Total

370,471

Tennessee

(1.9%)

Metropolitan

Government

of

Nashville

and

Davidson

County,

TN

Health

and

Educational

Fac.

Rev.

Refg

.

(

Trevecca

Nazarene

University)

300,000

5.000%,

10/1/2034

336,081

Total

336,081

Texas

(13.6%)

Central

Texas

Regional

Mobility

Auth.

Rev.

300,000

5.000%,

1/1/2040,

Ser.

A

341,436

Harris

County,

TX

Cultural

Education

Fac.

Finance

Corporation

Rev.

(First

Mortgage

Brazos

Presbyterian

Homes,

Inc.)

250,000

5.000%,

1/1/2033,

Ser.

A

255,677

Irving,

TX

Rev.

Refg

.

300,000

5.000%,

8/15/2043

305,925

Port

Freeport

TX

Senior

Lien

Rev.

300,000

5.000%,

6/1/2049,

Ser.

A,

AMT

367,896

Port

of

Beaumont,

TX

Navigation

District

Fac.

Rev.

Refg

.

(Dock

and

Wharf

Jefferson

Gulf

Coast

Energy)

250,000

4.000%,

1/1/2050,

Ser.

A,

AMT

a

250,795

Red

River

Education

Finance

Corporation

Rev.

Refg

.

(St.

Edwards

University)

250,000

5.000%,

6/1/2027

285,480

Tarrant

County

Cultural

Education

Fac.

Finance

Corporation

Rev.

Refg

.

(Trinity

Terrace)

235,000

5.000%,

10/1/2044,

Ser.

A-1

244,365

Principal

Amount

Long-Term

Fixed

Income

(98.1%)

Value

Texas

(13.6%)

-

continued

Texas

Private

Activity

Bond

Surface

Transportation

Corporation

Rev.

(Segment

3C)

$

300,000

5.000%,

6/30/2058,

AMT

$

350,151

Total

2,401,725

Utah

(1.6%)

Salt

Lake

City,

UT

Airport

Rev.

225,000

5.000%,

7/1/2036,

Ser.

A,

AMT

275,866

Total

275,866

Virginia

(3.0%)

Virginia

Small

Business

Financing

Auth.

Rev.

(Elizabeth

River

Crossings

Opco

,

LLC)

250,000

5.000%,

1/1/2027,

AMT

264,280

Virginia

Small

Business

Financing

Auth.

Rev.

(Transform

66

P3)

230,000

5.000%,

12/31/2047,

AMT

258,644

Total

522,924

Wisconsin

(2.8%)

Wisconsin

Health

&

Educational

Fac.

Auth.

Rev.

(PHW

Oconomowoc,

Inc.)

250,000

5.125%,

10/1/2048

250,600

Wisconsin

Health

&

Educational

Fac.

Auth.

Rev.

Refg

.

(Benevolent

Corporation

Cedar

Community)

240,000

5.000%,

6/1/2037

245,599

Total

496,199

Total

Long-Term

Fixed

Income

(cost

$16,844,722)

17,312,553

Principal

Amount

Short-Term

Investments

(

1.1%

)

d

Value

Federal

Home

Loan

Bank

Discount

Notes

200,000

0.090%,

9/21/2020

e

199,976

Total

Short-Term

Investments

(cost

$199,975)

199,976

Total

Investments

(cost

$17,044,697)

99.2%

$17,512,529

Other

Assets

and

Liabilities,

Net

0.8%

142,892

Total

Net

Assets

100.0%

$17,655,421

a

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$1,834,582

or

10.4%

of

total

net

assets.

b

To

reduce

certain

risks

associated

with

securities

issued

by

municipalities,

which

may

include

but

are

not

limited

to

economic

development

in

a

specific

industry

or

municipality,

the

principal

and/or

interest

payments

are

guaranteed

by

the

bond

insurance

company

or

government

agency

identified.

High

Income

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

67

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

c

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

d

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

e

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

Definitions:

AGM

-

Assured

Guaranty

Municipal

Corporation

AMT

-

Subject

to

Alternative

Minimum

Tax

Auth.

-

Authority

BAM

-

Build

America

Mutual

C.O.P.

-

Certificate

of

Participation

Fac.

-

Facility/Facilities

G.O.

-

General

Obligation

NATL-RE

-

National

Public

Finance

Guarantee

Corporation

Refg

.

-

Refunding

Rev.

-

Revenue

Ser.

-

Series

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

High

Income

Municipal

Bond

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Long-Term

Fixed

Income

Education

2,620,881

–

2,620,881

–

Electric

Revenue

296,910

–

296,910

–

General

Obligation

539,922

–

539,922

–

Health

Care

3,971,525

–

3,971,525

–

Housing

Finance

728,520

–

728,520

–

Industrial

Development

Revenue

495,582

–

495,582

–

Other

Revenue

2,454,868

–

2,454,868

–

Tax

Revenue

1,223,622

–

1,223,622

–

Transportation

4,152,818

–

4,152,818

–

Water

&

Sewer

827,905

–

827,905

–

Short-Term

Investments

199,976

–

199,976

–

Total

Investments

at

Value

$17,512,529

$–

$17,512,529

$–

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

26,188

26,188

–

–

Total

Liability

Derivatives

$26,188

$26,188

$–

$–

The

following

table

presents

High

Income

Municipal

Bond

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$199,976

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

U.S.

Long

Bond

(5)

September

2020

(

$

885,218)

(

$

26,188)

Total

Futures

Short

Contracts

(

$

885,218)

($26,188)

Total

Futures

Contracts

(

$

885,218)

($26,188)

High

Yield

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

68

Principal

Amount

Bank

Loans

(

3.2%

)

a

Value

Capital

Goods

(0.9%)

Mauser

Packaging

Solutions

Holding

Company,

Term

Loan

$

2,346,854

3.523%, 

(LIBOR

3M

+

3.250%),

4/3/2024

b

$

2,186,681

Navistar,

Inc.,

Term

Loan

3,683,333

3.690%, 

(LIBOR

1M

+

3.500%),

11/6/2024

b

3,557,474

Vertiv

Group

Corporation,

Term

Loan

1,725,675

3.162%, 

(LIBOR

1M

+

3.000%),

3/2/2027

b

1,684,690

Total

7,428,845

Communications

Services

(0.4%)

Windstream

Services,

LLC,

Term

Loan

5,645,000

0.000%, 

(PRIME

+

5.000%),

3/30/2021

b,c

3,374,186

Total

3,374,186

Consumer

Cyclical

(1.0%)

Cengage

Learning,

Inc.,

Term

Loan

3,627,634

5.250%, 

(LIBOR

3M

+

4.250%),

6/7/2023

b

2,935,373

Golden

Nugget,

LLC,

Term

Loan

2,386,609

3.250%, 

(LIBOR

1M

+

2.500%),

10/4/2023

b

1,990,981

Staples,

Inc.,

Term

Loan

3,274,357

5.687%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b

2,809,594

Total

7,735,948

Consumer

Non-Cyclical

(0.8%)

Bellring

Brands,

LLC,

Term

Loan

3,371,772

6.000%, 

(LIBOR

1M

+

5.000%),

10/21/2024

b

3,380,201

Chobani

,

LLC,

Term

Loan

1,378,588

4.500%, 

(LIBOR

1M

+

3.500%),

10/10/2023

b

1,364,030

Endo

International

plc,

Term

Loan

1,637,852

5.000%, 

(LIBOR

3M

+

4.250%),

4/27/2024

b

1,563,592

Total

6,307,823

Energy

(0.1%)

Chesapeake

Energy

Corporation,

Term

Loan

975,000

0.000%, 

(LIBOR

1M

+

8.000%),

6/23/2024

b,c,d,e

476,941

Fieldwood

Energy,

LLC,

Term

Loan

2,370,000

6.250%, 

(LIBOR

3M

+

5.250%),

4/11/2022

b

541,142

Total

1,018,083

Total

Bank

Loans

(cost

$31,300,527)

25,864,885

Principal

Amount

Long-Term

Fixed

Income

(

92.4%

)

Value

Basic

Materials

(6.5%)

Alcoa,

Inc.

1,495,000

5.125%, 

10/1/2024

1,588,617

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Basic

Materials

(6.5%)

-

continued

Big

River

Steel,

LLC

$

3,340,000

7.250%, 

9/1/2025

f

$

3,371,329

Cleveland-Cliffs,

Inc.

3,745,000

5.750%, 

3/1/2025

g

3,230,062

1,750,000

9.875%, 

10/17/2025

f

1,911,875

First

Quantum

Minerals,

Ltd.

3,955,000

7.250%, 

4/1/2023

f

3,972,600

1,960,000

6.875%, 

3/1/2026

f

1,964,900

Freeport-McMoRan,

Inc.

2,490,000

4.125%, 

3/1/2028

2,617,613

3,310,000

4.250%, 

3/1/2030

3,458,288

Grinding

Media,

Inc.

3,080,000

7.375%, 

12/15/2023

f

3,130,050

Koppers

,

Inc.

2,700,000

6.000%, 

2/15/2025

f

2,781,000

Krayton

Polymers,

LLC

2,425,000

7.000%, 

4/15/2025

f

2,509,875

Mercer

International,

Inc.

1,180,000

7.375%, 

1/15/2025

1,188,850

1,435,000

5.500%, 

1/15/2026

1,356,075

Methanex

Corporation

3,343,000

4.250%, 

12/1/2024

3,192,264

Midwest

Vanadium,

Pty.

Ltd.

2,862,131

11.500%, 

2/15/2018

*,

h,i

5,009

Norbord,

Inc.

1,430,000

5.750%, 

7/15/2027

f

1,522,950

NOVA

Chemicals

Corporation

1,055,000

5.250%, 

8/1/2023

f

1,055,000

Novelis

Corporation

2,130,000

5.875%, 

9/30/2026

f

2,272,518

2,010,000

4.750%, 

1/30/2030

f

2,096,973

Olin

Corporation

2,450,000

5.625%, 

8/1/2029

2,352,245

3,005,000

5.000%, 

2/1/2030

2,824,700

Peabody

Securities

Finance

Corporation

2,820,000

6.000%, 

3/31/2022

f,g

1,847,100

Tronox

Finance

plc

2,790,000

5.750%, 

10/1/2025

f

2,762,100

Total

53,011,993

Capital

Goods

(9.9%)

Abengoa

Abenewco

2

Bis

SA,

Convertible

3,423,690

0.000%,PIK

1.500%,

4/26/2024

*,j

68,474

Advanced

Disposal

Services,

Inc.

2,845,000

5.625%, 

11/15/2024

f

2,952,256

Advanced

Drainage

Systems,

Inc.

2,360,000

5.000%, 

9/30/2027

f

2,430,800

AECOM

1,035,000

5.875%, 

10/15/2024

1,142,381

3,005,000

5.125%, 

3/15/2027

3,301,744

Amsted

Industries,

Inc.

1,875,000

5.625%, 

7/1/2027

f

1,978,125

2,370,000

4.625%, 

5/15/2030

f

2,417,400

Arconic

Rolled

Products

Corporation

1,100,000

6.125%, 

2/15/2028

f

1,172,875

Arconic

,

Inc.

1,495,000

5.900%, 

2/1/2027

1,663,232

ARD

Finance

SA

2,000,000

6.500%, 

6/30/2027

f

2,045,000

Ardagh

Packaging

Finance

plc

5,005,000

5.250%, 

8/15/2027

f

5,239,084

High

Yield

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

69

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Capital

Goods

(9.9%)

-

continued

Berry

Global,

Inc.

$

1,610,000

4.500%, 

2/15/2026

f

$

1,650,846

Berry

Plastics

Corporation

3,940,000

5.125%, 

7/15/2023

3,994,175

Bombardier,

Inc.

2,555,000

7.500%, 

3/15/2025

f

2,063,162

1,950,000

7.875%, 

4/15/2027

f

1,555,125

BWAY

Holding

Company

2,895,000

7.250%, 

4/15/2025

f

2,779,200

Clean

Harbors,

Inc.

2,920,000

5.125%, 

7/15/2029

f

3,124,400

Covanta

Holding

Corporation

1,400,000

5.875%, 

7/1/2025

1,449,000

940,000

6.000%, 

1/1/2027

972,900

Crown

Cork

&

Seal

Company,

Inc.

2,790,000

7.375%, 

12/15/2026

3,292,200

Flex

Acquisition

Company,

Inc.

2,995,000

6.875%, 

1/15/2025

f

3,039,925

700,000

7.875%, 

7/15/2026

f

725,683

GFL

Environmental,

Inc.

1,674,000

7.000%, 

6/1/2026

f

1,774,440

H&E

Equipment

Services,

Inc.

1,729,000

5.625%, 

9/1/2025

1,800,321

Howmet

Aerospace,

Inc.

2,000,000

6.875%, 

5/1/2025

2,270,953

IAA

Spinco

,

Inc.

1,100,000

5.500%, 

6/15/2027

f

1,172,875

Jeld-Wen

,

Inc.

1,100,000

6.250%, 

5/15/2025

f

1,177,000

2,430,000

4.875%, 

12/15/2027

f

2,472,525

New

Enterprise

Stone

&

Lime

Company,

Inc.

1,855,000

6.250%, 

3/15/2026

f

1,910,650

Owens-Brockway

Glass

Container,

Inc.

2,880,000

5.875%, 

8/15/2023

f

3,040,416

Reynolds

Group

Issuer,

Inc.

2,095,000

5.125%, 

7/15/2023

f

2,127,054

Summit

Materials,

LLC

1,000,000

5.250%, 

1/15/2029

e,f

1,037,500

TransDigm

,

Inc.

4,255,000

6.250%, 

3/15/2026

f

4,489,025

United

Rentals

North

America,

Inc.

1,040,000

5.500%, 

7/15/2025

1,069,744

3,960,000

5.875%, 

9/15/2026

4,227,300

1,710,000

3.875%, 

2/15/2031

e,k

1,722,825

WESCO

Distribution,

Inc.

1,220,000

7.250%, 

6/15/2028

f

1,332,850

Total

80,683,465

Communications

Services

(17.5%)

AMC

Networks,

Inc.

1,055,000

4.750%, 

8/1/2025

1,081,375

CCO

Holdings,

LLC

3,520,000

5.875%, 

4/1/2024

f

3,642,144

3,250,000

5.375%, 

6/1/2029

f

3,558,750

3,760,000

4.750%, 

3/1/2030

f

4,002,050

4,605,000

4.500%, 

8/15/2030

f

4,880,839

2,000,000

4.250%, 

2/1/2031

f

2,085,978

CCOH

Safari,

LLC

5,095,000

5.750%, 

2/15/2026

f

5,324,275

Cengage

Learning,

Inc.

1,495,000

9.500%, 

6/15/2024

f

979,225

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Communications

Services

(17.5%)

-

continued

Clear

Channel

Worldwide

Holdings,

Inc.

$

3,420,000

5.125%, 

8/15/2027

f

$

3,351,600

CSC

Holdings,

LLC

5,210,000

6.500%, 

2/1/2029

f

5,965,450

2,440,000

4.125%, 

12/1/2030

f

2,571,150

Cumulus

Media

New

Holdings,

Inc.

2,445,000

6.750%, 

7/1/2026

f

2,218,837

Embarq

Corporation

4,975,000

7.995%, 

6/1/2036

5,830,700

Entercom

Media

Corporation

3,415,000

6.500%, 

5/1/2027

f

3,047,887

Front

Range

BidCo

,

Inc.

1,540,000

4.000%, 

3/1/2027

f

1,543,403

2,020,000

6.125%, 

3/1/2028

f

2,083,125

LCPR

Senior

Secured

Financing

DAC

3,700,000

6.750%, 

10/15/2027

f

3,997,850

Level

3

Financing,

Inc.

5,080,000

5.375%, 

5/1/2025

5,245,100

1,600,000

5.250%, 

3/15/2026

1,671,152

Meredith

Corporation

1,435,000

6.875%, 

2/1/2026

1,246,585

Neptune

Finco

Corporation

4,545,000

10.875%, 

10/15/2025

f

4,872,695

Qualitytech

,

LP

3,260,000

4.750%, 

11/15/2025

f

3,374,100

Scripps

Escrow,

Inc.

3,485,000

5.875%, 

7/15/2027

f

3,502,425

SFR

Group

SA

2,450,000

7.375%, 

5/1/2026

f

2,613,293

Sinclair

Television

Group,

Inc.

1,430,000

5.875%, 

3/15/2026

f

1,433,575

Sirius

XM

Radio,

Inc.

3,200,000

4.625%, 

7/15/2024

f

3,369,600

2,440,000

5.500%, 

7/1/2029

f

2,717,550

4,885,000

4.125%, 

7/1/2030

f

5,155,141

Sprint

Capital

Corporation

1,955,000

6.875%, 

11/15/2028

2,535,049

1,705,000

8.750%, 

3/15/2032

2,629,963

Sprint

Corporation

4,835,000

7.250%, 

9/15/2021

5,113,013

7,760,000

7.625%, 

2/15/2025

9,425,063

Telesat

Canada

/

Telesat

,

LLC

3,100,000

4.875%, 

6/1/2027

f

3,146,500

Terrier

Media

Buyer,

Inc.

2,000,000

8.875%, 

12/15/2027

f

2,050,000

United

States

Cellular

Corporation

960,000

6.700%, 

12/15/2033

1,203,542

Univision

Communications,

Inc.

3,420,000

6.625%, 

6/1/2027

f

3,429,576

VeriSign,

Inc.

2,390,000

4.750%, 

7/15/2027

2,595,014

Virgin

Media

Secured

Finance

plc

2,205,000

5.500%, 

8/15/2026

f

2,342,349

VTR

Comunicaciones

SPA

980,000

5.125%, 

1/15/2028

f

1,041,250

WMG

Acquisition

Corporation

2,325,000

5.500%, 

4/15/2026

f

2,412,188

YPSO

Finance

BIS

SA

2,540,000

10.500%, 

5/15/2027

f

2,905,125

1,050,000

6.000%, 

2/15/2028

f

1,048,729

Ziggo

Bond

Company

BV

1,680,000

5.125%, 

2/28/2030

f

1,789,704

High

Yield

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

70

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Communications

Services

(17.5%)

-

continued

Ziggo

BV

$

3,415,000

5.500%, 

1/15/2027

f

$

3,607,299

3,280,000

4.875%, 

1/15/2030

f

3,485,984

Total

142,126,202

Consumer

Cyclical

(14.8%)

1011778

B.C.,

ULC

3,510,000

4.375%, 

1/15/2028

f

3,650,856

Allied

Universal

Holdco,

LLC

1,465,000

6.625%, 

7/15/2026

f

1,567,550

Allison

Transmission,

Inc.

3,680,000

5.000%, 

10/1/2024

f

3,750,840

Brookfield

Residential

Properties,

Inc.

3,260,000

6.250%, 

9/15/2027

f

3,260,000

Carnival

Corporation

1,470,000

10.500%, 

2/1/2026

f

1,521,759

Cedar

Fair,

LP

2,500,000

5.250%, 

7/15/2029

2,361,750

Colt

Merger

Sub,

Inc.

4,890,000

6.250%, 

7/1/2025

f

5,119,830

Dana

Financing

Luxembourg

SARL

3,575,000

6.500%, 

6/1/2026

f

3,744,812

Expedia

Group,

Inc.

2,300,000

6.250%, 

5/1/2025

f

2,513,304

Ford

Motor

Company

3,965,000

8.500%, 

4/21/2023

4,401,824

1,000,000

9.625%, 

4/22/2030

g

1,326,790

Ford

Motor

Credit

Company,

LLC

3,910,000

5.125%, 

6/16/2025

4,168,334

2,490,000

4.134%, 

8/4/2025

2,552,001

Gap,

Inc.

2,480,000

8.375%, 

5/15/2023

f

2,734,200

Hanesbrands,

Inc.

3,805,000

4.875%, 

5/15/2026

f

4,147,450

Herc

Holdings,

Inc.

4,680,000

5.500%, 

7/15/2027

f

4,949,100

Hertz

Corporation

1,463,000

7.625%, 

6/1/2022

f,h,i

1,295,194

Hilton

Escrow

Issuer,

LLC

2,010,000

4.250%, 

9/1/2024

2,030,100

International

Game

Technology

plc

1,500,000

6.250%, 

1/15/2027

f

1,594,305

550,000

5.250%, 

1/15/2029

f

561,984

KAR

Auction

Services,

Inc.

2,430,000

5.125%, 

6/1/2025

f

2,442,150

KB

Home

1,870,000

6.875%, 

6/15/2027

2,113,100

1,990,000

4.800%, 

11/15/2029

2,069,600

L

Brands,

Inc.

1,220,000

6.875%, 

7/1/2025

f

1,313,916

Landry's,

Inc.

1,875,000

6.750%, 

10/15/2024

f

1,312,500

Lennar

Corporation

1,370,000

4.500%, 

4/30/2024

1,483,025

1,510,000

4.750%, 

5/30/2025

1,661,000

3,035,000

4.750%, 

11/29/2027

3,467,487

Levi

Strauss

&

Company

4,200,000

5.000%, 

5/1/2025

f

4,294,920

Marriott

International

1,000,000

4.625%, 

6/15/2030

1,072,000

Mattamy

Group

Corporation

3,515,000

5.250%, 

12/15/2027

f

3,646,812

1,300,000

4.625%, 

3/1/2030

f

1,319,500

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Consumer

Cyclical

(14.8%)

-

continued

New

Red

Finance,

Inc.

$

2,190,000

5.000%, 

10/15/2025

f

$

2,248,276

Norwegian

Cruise

Line

Holdings,

Ltd.

1,460,000

10.250%, 

2/1/2026

f

1,454,525

PGT

Escrow

Issuer,

Inc.

2,805,000

6.750%, 

8/1/2026

f

2,917,200

Prime

Security

Services

Borrower,

LLC

4,530,000

5.750%, 

4/15/2026

f,g

5,028,300

1,050,000

6.250%, 

1/15/2028

f

1,094,625

Scientific

Games

International,

Inc.

2,350,000

5.000%, 

10/15/2025

f

2,329,437

2,700,000

7.250%, 

11/15/2029

f

2,470,500

SeaWorld

Parks

and

Entertainment,

Inc.

1,950,000

9.500%, 

8/1/2025

e,f

1,976,813

Service

Properties

Trust

2,925,000

7.500%, 

9/15/2025

3,101,205

ServiceMaster

Company,

LLC

2,440,000

5.125%, 

11/15/2024

f

2,513,200

Six

Flags

Entertainment

Corporation

1,565,000

4.875%, 

7/31/2024

f

1,486,281

Six

Flags

Theme

Parks,

Inc.

2,000,000

7.000%, 

7/1/2025

f

2,146,620

Staples,

Inc.

1,745,000

7.500%, 

4/15/2026

f

1,530,889

Stars

Group

Holdings

BV

2,300,000

7.000%, 

7/15/2026

f

2,482,850

Station

Casinos,

LLC

470,000

5.000%, 

10/1/2025

f

444,738

Wyndham

Destinations,

Inc.

730,000

6.625%, 

7/31/2026

f

753,473

Yum!

Brands,

Inc.

1,910,000

5.250%, 

6/1/2026

f

2,004,927

630,000

4.750%, 

1/15/2030

f

683,550

Total

120,115,402

Consumer

Non-Cyclical

(14.8%)

Air

Medical

Merger

Sub

Corporation

2,810,000

6.375%, 

5/15/2023

f

2,669,500

Albertson's

Companies,

Inc.

2,540,000

7.500%, 

3/15/2026

f

2,857,500

1,830,000

4.625%, 

1/15/2027

f

1,935,225

4,230,000

5.875%, 

2/15/2028

f

4,631,554

600,000

4.875%, 

2/15/2030

f

649,800

Bausch

Health

Companies,

Inc.

3,285,000

5.000%, 

1/30/2028

f

3,301,359

1,975,000

7.250%, 

5/30/2029

f

2,172,500

625,000

5.250%, 

1/30/2030

f

638,281

Centene

Corporation

1,970,000

5.375%, 

6/1/2026

f

2,106,738

1,450,000

4.250%, 

12/15/2027

1,540,625

3,650,000

4.625%, 

12/15/2029

4,070,699

4,260,000

3.375%, 

2/15/2030

4,524,929

Cooke

Omega

Investments,

Inc.

2,445,000

8.500%, 

12/15/2022

f

2,445,000

DaVita,

Inc.

3,910,000

4.625%, 

6/1/2030

f

4,160,435

Dole

Food

Company,

Inc.

2,340,000

7.250%, 

6/15/2025

f

2,304,900

Edgewell

Personal

Care

Company

1,460,000

5.500%, 

6/1/2028

f

1,580,450

High

Yield

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

71

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Consumer

Non-Cyclical

(14.8%)

-

continued

Encompass

Health

Corporation

$

3,185,000

4.500%, 

2/1/2028

$

3,328,325

Energizer

Holdings,

Inc.

1,100,000

7.750%, 

1/15/2027

f

1,221,000

3,560,000

4.750%, 

6/15/2028

f

3,818,456

HCA,

Inc.

3,495,000

5.375%, 

2/1/2025

3,940,612

1,970,000

5.875%, 

2/1/2029

2,398,475

Herbalife

Nutrition,

Ltd.

3,420,000

7.875%, 

9/1/2025

f

3,719,250

Illumina,

Inc.

1,250,000

9.000%, 

7/1/2028

f

1,340,625

JBS

Investments

II

GmbH

2,440,000

5.750%, 

1/15/2028

f

2,590,792

JBS

USA,

LLC

1,615,000

6.500%, 

4/15/2029

f

1,828,987

2,960,000

5.500%, 

1/15/2030

f

3,263,400

Kraft

Heinz

Foods

Company

1,600,000

3.875%, 

5/15/2027

f

1,723,176

2,490,000

3.750%, 

4/1/2030

f

2,698,097

Mattel,

Inc.

2,015,000

5.875%, 

12/15/2027

f

2,168,644

Molina

Healthcare,

Inc.

1,370,000

4.375%, 

6/15/2028

f

1,455,666

MPH

Acquisition

Holdings,

LLC

4,010,000

7.125%, 

6/1/2024

f,g

4,115,263

Ortho-Clinical

Diagnostics,

Inc.

2,480,000

7.250%, 

2/1/2028

f

2,594,700

Par

Pharmaceutical,

Inc.

2,450,000

7.500%, 

4/1/2027

f

2,605,894

Performance

Food

Group,

Inc.

2,231,000

5.500%, 

6/1/2024

f

2,250,521

Pilgrim's

Pride

Corporation

2,985,000

5.750%, 

3/15/2025

f

3,059,625

Simmons

Foods,

Inc.

1,685,000

5.750%, 

11/1/2024

f

1,693,425

Spectrum

Brands,

Inc.

3,200,000

5.750%, 

7/15/2025

3,296,000

820,000

5.000%, 

10/1/2029

f

844,600

730,000

5.500%, 

7/15/2030

f

757,375

Tenet

Healthcare

Corporation

7,470,000

4.875%, 

1/1/2026

f

7,813,321

3,960,000

5.125%, 

11/1/2027

f

4,207,500

Teva

Pharmaceutical

Finance

Netherlands

III

BV

2,655,000

3.150%, 

10/1/2026

2,421,918

Valeant

Pharmaceuticals

International,

Inc.

2,520,000

8.500%, 

1/31/2027

f

2,803,500

VRX

Escrow

Corporation

4,655,000

6.125%, 

4/15/2025

f

4,806,288

Total

120,354,930

Energy

(10.4%)

Antero

Resources

Corporation

2,360,000

5.625%, 

6/1/2023

g

1,693,748

Apache

Corporation

1,465,000

4.375%, 

10/15/2028

g

1,463,169

1,465,000

5.100%, 

9/1/2040

1,424,712

Boardwalk

Pipelines,

LP

3,443,000

5.950%, 

6/1/2026

4,049,601

Buckeye

Partners,

LP

3,735,000

4.125%, 

12/1/2027

3,641,625

1,530,000

4.500%, 

3/1/2028

f

1,522,350

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Energy

(10.4%)

-

continued

California

Resources

Corporation

$

4,210,000

8.000%, 

12/15/2022

f,h,i

$

75,738

Cenovus

Energy,

Inc.

1,220,000

5.375%, 

7/15/2025

1,221,567

Centennial

Resource

Production,

LLC

4,415,000

5.375%, 

1/15/2026

f

1,975,712

Cheniere

Energy

Partners,

LP

2,655,000

5.625%, 

10/1/2026

2,804,344

5,515,000

4.500%, 

10/1/2029

5,833,767

Chesapeake

Energy

Corporation

3,161,000

11.500%, 

1/1/2025

f,h,i

292,392

Comstock

Resources,

Inc.

1,460,000

9.750%, 

8/15/2026

1,459,533

CrownRock

Finance,

Inc.

3,450,000

5.625%, 

10/15/2025

f

3,381,000

Enagas

SA

3,810,000

5.500%, 

1/15/2028

f

3,390,443

Endeavor

Energy

Resources,

LP

980,000

6.625%, 

7/15/2025

f

1,029,617

2,300,000

5.750%, 

1/30/2028

f

2,360,375

EQM

Midstream

Partners

LP

1,710,000

6.000%, 

7/1/2025

f

1,813,729

EQM

Midstream

Partners,

LP

3,525,000

4.125%, 

12/1/2026

3,428,062

Murphy

Oil

Corporation

3,300,000

5.875%, 

12/1/2027

3,036,000

Nabors

Industries,

Inc.

2,800,000

5.750%, 

2/1/2025

1,106,000

Nabors

Industries,

Ltd.

1,000,000

7.250%, 

1/15/2026

f

631,560

Noble

Holding

International,

Ltd.

2,790,000

7.750%, 

1/15/2024

h,i

41,850

Occidental

Petroleum

Corporation

1,200,000

2.700%, 

8/15/2022

1,158,456

1,845,000

2.900%, 

8/15/2024

1,736,053

1,600,000

3.500%, 

6/15/2025

1,511,104

2,440,000

8.000%, 

7/15/2025

g

2,665,700

3,000,000

8.875%, 

7/15/2030

3,375,000

1,150,000

4.625%, 

6/15/2045

951,970

2,445,000

4.400%, 

4/15/2046

1,991,942

Pacific

Drilling

First

Lien

Escrow

Issuer,

Ltd.

1,885,000

8.375%, 

10/1/2023

f

405,275

Pacific

Drilling

Second

Lien

Escrow

Issuer,

Ltd.

596,442

0.000%,PIK

12.000%,

4/1/2024

f,j

5,964

Parsley

Energy,

LLC

2,900,000

5.625%, 

10/15/2027

f

3,037,750

Precision

Drilling

Corporation

1,060,000

7.750%, 

12/15/2023

795,000

1,530,000

7.125%, 

1/15/2026

f

1,055,700

Sanchez

Energy

Corporation

Escrow

Holding

3,260,000

0.000%, 

2/15/2023

i,k

3

Southwestern

Energy

Company

3,915,000

7.500%, 

4/1/2026

3,673,249

Sunoco,

LP

1,535,000

4.875%, 

1/15/2023

1,559,944

1,010,000

5.500%, 

2/15/2026

1,035,250

Targa

Resources

Partners,

LP

1,040,000

5.125%, 

2/1/2025

1,055,600

1,995,000

5.000%, 

1/15/2028

2,034,900

High

Yield

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

72

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Energy

(10.4%)

-

continued

Transocean

Pontus,

Ltd.

$

388,275

6.125%, 

8/1/2025

f

$

358,184

Transocean,

Inc.

2,600,000

7.250%, 

11/1/2025

f

1,274,000

930,000

7.500%, 

1/15/2026

f

455,700

2,355,000

7.500%, 

4/15/2031

629,963

Valaris

plc

3,255,000

4.750%, 

1/15/2024

h

276,675

W&T

Offshore,

Inc.

3,055,000

9.750%, 

11/1/2023

f

2,036,585

WPX

Energy,

Inc.

820,000

5.250%, 

10/15/2027

808,725

3,045,000

4.500%, 

1/15/2030

2,834,591

Total

84,400,177

Financials

(7.7%)

Ally

Financial,

Inc.

3,900,000

5.750%, 

11/20/2025

4,402,801

CIT

Group,

Inc.

1,337,000

5.000%, 

8/15/2022

1,380,452

1,183,000

5.000%, 

8/1/2023

1,237,714

Credit

Acceptance

Corporation

1,420,000

5.125%, 

12/31/2024

f

1,445,560

1,980,000

6.625%, 

3/15/2026

2,083,950

Drawbridge

Special

Opportunities

Fund,

LP

3,215,000

5.000%, 

8/1/2021

f

3,215,967

Global

Aircraft

Leasing

Company,

Ltd.

2,930,000

6.500%,PIK

 0.000%,

9/15/2024

f,j

1,823,925

Icahn

Enterprises,

LP

2,450,000

4.750%, 

9/15/2024

2,499,000

2,480,000

6.250%, 

5/15/2026

2,620,790

3,045,000

5.250%, 

5/15/2027

3,136,350

MGM

Growth

Properties

Operating

Partnership,

LP

2,250,000

5.750%, 

2/1/2027

2,435,625

MPT

Operating

Partnership,

LP

780,000

5.500%, 

5/1/2024

794,625

1,980,000

5.250%, 

8/1/2026

2,079,000

1,260,000

5.000%, 

10/15/2027

1,351,350

2,450,000

4.625%, 

8/1/2029

2,588,572

Outfront

Media

Cap,

LLC

2,700,000

4.625%, 

3/15/2030

f

2,524,500

Park

Aerospace

Holdings,

Ltd.

3,915,000

4.500%, 

3/15/2023

f

3,698,263

Quicken

Loans,

Inc.

3,685,000

5.750%, 

5/1/2025

f

3,798,995

Royal

Bank

of

Scotland

Group

plc

2,785,000

5.125%, 

5/28/2024

3,072,322

Springleaf

Finance

Corporation

765,000

6.125%, 

3/15/2024

g

832,496

670,000

6.875%, 

3/15/2025

748,725

720,000

7.125%, 

3/15/2026

844,078

2,010,000

6.625%, 

1/15/2028

2,303,373

Synchrony

Financial

3,920,000

3.950%, 

12/1/2027

4,136,424

Trivium

Packaging

Finance

1,040,000

5.500%, 

8/15/2026

f

1,107,912

470,000

8.500%, 

8/15/2027

f

515,825

VICI

Properties,

LP

/

VICI

Note

Company,

Inc.

1,050,000

4.250%, 

12/1/2026

f

1,081,500

2,010,000

3.750%, 

2/15/2027

f

2,025,075

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Financials

(7.7%)

-

continued

$

1,050,000

4.625%, 

12/1/2029

f

$

1,105,125

2,010,000

4.125%, 

8/15/2030

f

2,034,120

Total

62,924,414

Technology

(5.6%)

CDW,

LLC

1,500,000

4.125%, 

5/1/2025

1,585,800

CommScope

Technologies

Finance,

LLC

2,010,000

6.000%, 

6/15/2025

f

2,053,617

CommScope

,

Inc.

2,485,000

5.500%, 

3/1/2024

f

2,580,722

1,470,000

7.125%, 

7/1/2028

f

1,556,215

Diamond

Finance

Corporation

4,505,000

7.125%, 

6/15/2024

f

4,677,136

Diamond

Sports

Group,

LLC

2,210,000

5.375%, 

8/15/2026

f

1,701,855

4,030,000

6.625%, 

8/15/2027

f

2,206,425

Harland

Clarke

Holdings

Corporation

1,925,000

8.375%, 

8/15/2022

f

1,573,687

Inception

Merger

Sub,

Inc.

5,035,000

8.625%, 

11/15/2024

f,g

5,258,806

Iron

Mountain,

Inc.

3,455,000

5.250%, 

3/15/2028

f

3,627,750

610,000

5.000%, 

7/15/2028

f

631,350

980,000

5.250%, 

7/15/2030

f

1,027,775

NCR

Corporation

1,910,000

8.125%, 

4/15/2025

f

2,119,527

3,960,000

5.750%, 

9/1/2027

f

4,088,700

Plantronics,

Inc.

2,210,000

5.500%, 

5/31/2023

f

2,088,892

Presidio

Holdings,

Inc.

480,000

8.250%, 

2/1/2028

f

499,200

PTC,

Inc.

360,000

3.625%, 

2/15/2025

f

373,237

1,055,000

4.000%, 

2/15/2028

f

1,108,119

Qorvo

,

Inc.

2,485,000

4.375%, 

10/15/2029

f

2,675,252

Seagate

HDD

Cayman

1,175,000

4.091%, 

6/1/2029

f

1,255,621

SS&C

Technologies,

Inc.

3,000,000

5.500%, 

9/30/2027

f

3,225,000

Total

45,914,686

Transportation

(1.6%)

AerCap

Holdings

NV

2,460,000

5.875%, 

10/10/2079

b

1,886,353

Delta

Air

Lines,

Inc.

2,690,000

7.000%, 

5/1/2025

f

2,874,937

Mileage

Plus

Holdings,

LLC

1,590,000

6.500%, 

6/20/2027

f

1,645,650

XPO

Logistics,

Inc.

2,430,000

6.125%, 

9/1/2023

f

2,477,847

1,970,000

6.750%, 

8/15/2024

f

2,118,656

2,200,000

6.250%, 

5/1/2025

f

2,381,500

Total

13,384,943

U.S.

Government

&

Agencies

(0.1%)

U.S.

Treasury

Notes

500,000

1.375%, 

8/31/2020

500,481

Total

500,481

High

Yield

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

73

Principal

Amount

Long-Term

Fixed

Income

(92.4%)

Value

Utilities

(3.5%)

Calpine

Corporation

$

4,145,000

4.500%, 

2/15/2028

f

$

4,279,712

DCP

Midstream

Operating,

LP

1,185,000

8.125%, 

8/16/2030

1,384,293

GFL

Environmental,

Inc.

564,000

8.500%, 

5/1/2027

f

631,849

NextEra

Energy

Operating

Partners,

LP

5,010,000

3.875%, 

10/15/2026

f

5,235,450

NRG

Energy,

Inc.

1,420,000

7.250%, 

5/15/2026

1,531,484

1,270,000

5.250%, 

6/15/2029

f

1,404,201

PG&E

Corporation

730,000

5.000%, 

7/1/2028

751,134

Suburban

Propane

Partners,

LP

2,805,000

5.875%, 

3/1/2027

2,854,088

Talen

Energy

Supply,

LLC

1,860,000

6.500%, 

6/1/2025

1,246,200

1,510,000

7.250%, 

5/15/2027

f

1,570,400

Terraform

Global

Operating,

LLC

2,340,000

6.125%, 

3/1/2026

f

2,363,400

TerraForm

Power

Operating,

LLC

1,960,000

4.250%, 

1/31/2023

f

2,054,668

2,760,000

5.000%, 

1/31/2028

f

3,042,900

Total

28,349,779

Total

Long-Term

Fixed

Income

(cost

$751,728,617)

751,766,472

Shares

Collateral

Held

for

Securities

Loaned

(

2.9%

)

Value

23,377,535

Thrivent

Cash

Management

Trust

23,377,535

Total

Collateral

Held

for

Securities

Loaned

(cost

$23,377,535)

23,377,535

Shares

Preferred

Stock

(

0.8%

)

Value

Financials

(0.8%)

82,373

Bank

of

America

Corporation,

5.000%

l

2,206,773

480

Bank

of

America

Corporation,

Convertible,

7.250%

l

719,525

59,240

J.P.

Morgan

Chase

&

Company,

4.750%

g,l

1,605,996

1,476

Wells

Fargo

&

Company,

Convertible,

7.500%

l

1,994,814

Total

6,527,108

Total

Preferred

Stock

(cost

$6,075,831)

6,527,108

Shares

or

Principal

Amount

Short-Term

Investments

(

2.8%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

2,249,870

0.500%

22,521,198

Shares

or

Principal

Amount

Short-Term

Investments

(2.8%)

Value

U.S.

Treasury

Bills

550,000

0.023%,

9/24/2020

m

$

549,927

Total

Short-Term

Investments

(cost

$23,039,024)

23,071,125

Total

Investments

(cost

$835,521,534)

102.1%

$830,607,125

Other

Assets

and

Liabilities,

Net

(2.1%)

(17,186,487)

Total

Net

Assets

100.0%

$813,420,638

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

In

bankruptcy.  Interest

is

being

accrued

per

the

bankruptcy

agreement

terms.  

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

f

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$497,485,562

or

61.2%

of

total

net

assets.

g

All

or

a

portion

of

the

security

is

on

loan.

h

Defaulted

security.  Interest

is

not

being

accrued.

i

In

bankruptcy.  Interest

is

not

being

accrued.

j

Denotes

payment-in-kind

security.  The

security

may

pay

an

interest

or

dividend

payment

with

additional

fixed

income

or

equity

securities

in

lieu

of,

or

in

addition

to

a

cash

payment.  The

cash

rate

and/or

payment-in-kind

rate

shown

are

as

of

July

31,

2020.

k

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

l

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

m

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

High

Yield

Fund

as

of

July

31,

2020

was

$73,483

or

0.0%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

July

31,

2020.

High

Yield

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

74

Security

Acquisition

Date

Cost

Abengoa

Abenewco

2

Bis

SA,

Convertible,

4/26/2024

4/26/2019

$

464,369

Midwest

Vanadium,

Pty.

Ltd.,

2/15/2018

2/9/2011

2,714,489

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

High

Yield

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

22,323,939

Common

Stock

178,926

Total

lending

$22,502,865

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$23,377,535

Net

amounts

due

to

counterparty

$874,670

Definitions:

PIK

-

Payment-In-Kind

Reference

Rate

Index:

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

High

Yield

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Capital

Goods

7,428,845

–

7,428,845

–

Communications

Services

3,374,186

–

3,374,186

–

Consumer

Cyclical

7,735,948

–

7,735,948

–

Consumer

Non-Cyclical

6,307,823

–

6,307,823

–

Energy

1,018,083

–

1,018,083

–

Long-Term

Fixed

Income

Basic

Materials

53,011,993

–

53,011,993

–

Capital

Goods

80,683,465

–

78,960,640

1,722,825

Communications

Services

142,126,202

–

142,126,202

–

Consumer

Cyclical

120,115,402

–

120,115,402

–

Consumer

Non-Cyclical

120,354,930

–

120,354,930

–

Energy

84,400,177

–

84,400,174

3

Financials

62,924,414

–

62,924,414

–

Technology

45,914,686

–

45,914,686

–

Transportation

13,384,943

–

13,384,943

–

U.S.

Government

&

Agencies

500,481

–

500,481

–

Utilities

28,349,779

–

28,349,779

–

Preferred

Stock

Financials

6,527,108

6,527,108

–

–

Short-Term

Investments

549,927

–

549,927

–

Subtotal

Investments

in

Securities

$784,708,392

$6,527,108

$776,458,456

$1,722,828

Other

Investments  *

Total

Affiliated

Short-Term

Investments

22,521,198

Collateral

Held

for

Securities

Loaned

23,377,535

Subtotal

Other

Investments

$45,898,733

Total

Investments

at

Value

$830,607,125

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

High

Yield

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

75

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

High

Yield

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$27,177

$235,195

$239,834

$22,521

2,250

2.8%

Total

Affiliated

Short-Term

Investments

27,177

22,521

2.8

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

23,248

92,527

92,397

23,378

23,378

2.9

Total

Collateral

Held

for

Securities

Loaned

23,248

23,378

2.9

Total

Value

$50,425

$45,899

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(49)

$32

$0

$378

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$378

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

151

Total

Affiliated

Income

from

Securities

Loaned,

Net

$151

Total

$(49)

$32

$0

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

76

Principal

Amount

Bank

Loans

(

0.7%

)

a

Value

Basic

Materials

(<0.1%)

Ball

Metalpack

Finco,

LLC,

Term

Loan

$

58,800

4.863%, 

(LIBOR

3M

+

4.500%),

7/31/2025

b

$

54,978

Big

River

Steel,

LLC,

Term

Loan

145,875

6.000%, 

(LIBOR

3M

+

5.000%),

8/23/2023

b

138,582

Total

193,560

Capital

Goods

(0.1%)

Advanced

Disposal

Services,

Inc.,

Term

Loan

264,668

3.000%, 

(LIBOR

1W

+

2.250%),

11/10/2023

b

262,850

GFL

Environmental,

Inc.,

Term

Loan

338,545

4.000%, 

(LIBOR

3M

+

3.000%),

5/31/2025

b

336,524

Total

599,374

Communications

Services

(0.1%)

Altice

France

SA,

Term

Loan

125,775

2.911%, 

(LIBOR

1M

+

2.750%),

7/31/2025

b

120,209

Coral-US

Co-Borrower,

LLC,

Term

Loan

265,000

2.411%, 

(LIBOR

1M

+

2.250%),

1/31/2028

b

254,400

HCP

Acquisition,

LLC,

Term

Loan

213,826

4.000%, 

(LIBOR

1M

+

3.000%),

5/16/2024

b

208,908

TNS,

Inc.,

Term

Loan

210,772

4.170%, 

(LIBOR

1M

+

4.000%),

8/14/2022

b

204,449

Virgin

Media

Bristol,

LLC,

Term

Loan

310,000

2.675%, 

(LIBOR

1M

+

2.500%),

1/31/2028

b

300,409

WideOpenWest

Finance,

LLC,

Term

Loan

199,363

4.250%, 

(LIBOR

1M

+

3.250%),

8/19/2023

b

195,973

Windstream

Services,

LLC,

Term

Loan

163,744

0.000%, 

(PRIME

+

5.000%),

3/30/2021

b,c

97,875

Total

1,382,223

Consumer

Cyclical

(0.1%)

Golden

Entertainment,

Inc.,

Term

Loan

366,700

3.750%, 

(LIBOR

1M

+

3.000%),

10/20/2024

b

333,239

LCPR

Loan

Financing,

LLC,

Term

Loan

295,000

5.175%, 

(LIBOR

1M

+

5.000%),

10/15/2026

b

295,737

Scientific

Games

International,

Inc.,

Term

Loan

537,625

3.473%, 

(LIBOR

1M

+

2.750%),

8/14/2024

b

488,470

Principal

Amount

Bank

Loans

(0.7%)

a

Value

Consumer

Cyclical

(0.1%)

-

continued

Stars

Group

Holdings

BV,

Term

Loan

$

101,518

3.808%, 

(LIBOR

3M

+

3.500%),

7/10/2025

b

$

101,448

Total

1,218,894

Consumer

Non-Cyclical

(0.1%)

Bausch

Health

Americas,

Inc.,

Term

Loan

192,339

3.176%, 

(LIBOR

1M

+

3.000%),

6/1/2025

b,d,e

189,004

Endo

International

plc,

Term

Loan

128,703

5.000%, 

(LIBOR

3M

+

4.250%),

4/27/2024

b

122,868

Global

Medical

Response,

Inc.,

Term

Loan

312,835

4.250%, 

(LIBOR

3M

+

3.250%),

4/28/2022

b

308,665

97,500

5.250%, 

(LIBOR

3M

+

4.250%),

3/14/2025

b

94,874

JBS

USA

LUX

SA,

Term

Loan

162,938

3.072%, 

(LIBOR

3M

+

2.000%),

5/1/2026

b

157,049

MPH

Acquisition

Holdings,

LLC,

Term

Loan

255,466

3.750%, 

(LIBOR

3M

+

2.750%),

6/7/2023

b,d,e

251,261

Sotera

Health

Holdings,

LLC,

Term

Loan

89,775

5.500%, 

(LIBOR

1M

+

4.500%),

12/13/2026

b

89,438

Total

1,213,159

Energy

(0.1%)

Radiate

Holdco,

LLC,

Term

Loan

594,641

3.750%, 

(LIBOR

1M

+

3.000%),

2/1/2024

b

582,582

Total

582,582

Financials

(0.1%)

Avolon

TLB

Borrower

1

US,

LLC,

Term

Loan

105,224

2.500%, 

(LIBOR

1M

+

1.750%),

1/15/2025

b

100,147

GGP

Nimbus,

LLC,

Term

Loan

115,656

2.661%, 

(LIBOR

1M

+

2.500%),

8/24/2025

b

93,970

Tronox

Finance,

LLC,

Term

Loan

379,447

2.972%, 

(LIBOR

3M

+

2.750%),

9/22/2024

b

368,777

Vericast

Corporation,

Term

Loan

280,679

5.750%, 

(LIBOR

3M

+

4.750%),

11/3/2023

b

195,013

Total

757,907

Technology

(0.1%)

Prime

Security

Services

Borrower,

LLC,

Term

Loan

312,638

4.250%, 

(LIBOR

1M

+

3.250%),

9/23/2026

b

306,888

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

77

Principal

Amount

Bank

Loans

(0.7%)

a

Value

Technology

(0.1%)

-

continued

Rackspace

Hosting,

Inc.,

Term

Loan

$

325,132

4.000%, 

(LIBOR

2M

+

3.000%),

11/3/2023

b

$

317,859

Total

624,747

Total

Bank

Loans

(cost

$6,920,028)

6,572,446

Principal

Amount

Long-Term

Fixed

Income

(

93.3%

)

Value

Asset-Backed

Securities

(1.4%)

Goldentree

Loan

Management,

Ltd.

1,150,000

2.308%, 

(LIBOR

3M

+

1.900%),

4/20/2031,

Ser.

2020-7A,

Class

A

b,f

1,153,889

Magnetite

XII,

Ltd.

1,800,000

1.375%, 

(LIBOR

3M

+

1.100%),

10/15/2031,

Ser.

2015-12A,

Class

ARR

b,f

1,763,622

Neuberger

Berman

CLO

XIV,

Ltd.

1,800,000

1.277%, 

(LIBOR

3M

+

1.030%),

1/28/2030,

Ser.

2013-14A,

Class

AR2

b,f

1,770,716

Octagon

Credit

Partners

46,

Ltd.

1,800,000

2.476%, 

(LIBOR

3M

+

2.200%),

7/15/2033,

Ser.

2020-2A,

Class

B

b,e,f

1,799,831

Octagon

Investment

Partners

XVI,

Ltd.

1,400,000

1.673%, 

(LIBOR

3M

+

1.400%),

7/17/2030,

Ser.

2013-1A,

Class

A2R

b,f

1,364,584

Palmer

Square

CLO,

Ltd.

1,800,000

2.295%, 

(LIBOR

3M

+

2.000%),

4/20/2029,

Ser.

2020-1A,

Class

A1

b,f

1,807,267

Shackleton

CLO,

Ltd.

1,200,000

1.445%, 

(LIBOR

3M

+

1.170%),

7/15/2031,

Ser.

2015-7RA,

Class

A1

b,f

1,169,826

Sound

Point

CLO

X,

Ltd.

1,800,000

2.972%, 

(LIBOR

3M

+

2.700%),

1/20/2028,

Ser.

2015-3A,

Class

DR

b,f

1,631,174

THL

Credit

Wind

River

CLO,

Ltd.

1,800,000

3.125%, 

(LIBOR

3M

+

2.850%),

7/15/2028,

Ser.

2016-1A,

Class

DR

b,f

1,643,452

Total

14,104,361

Basic

Materials

(2.5%)

Alcoa,

Inc.

360,000

5.125%, 

10/1/2024

382,543

Anglo

American

Capital

plc

1,800,000

3.625%, 

9/11/2024

f

1,922,621

1,450,000

4.750%, 

4/10/2027

f

1,668,278

Cleveland-Cliffs,

Inc.

240,000

5.750%, 

3/1/2025

g

207,000

50,000

9.875%, 

10/17/2025

f

54,625

Freeport-McMoRan,

Inc.

180,000

4.125%, 

3/1/2028

189,225

Glencore

Funding,

LLC

1,820,000

4.125%, 

5/30/2023

f

1,954,866

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Basic

Materials

(2.5%)

-

continued

$

1,620,000

4.000%, 

3/27/2027

f

$

1,783,295

International

Paper

Company

1,260,000

3.000%, 

2/15/2027

1,389,592

Kinross

Gold

Corporation

360,000

5.950%, 

3/15/2024

409,119

2,230,000

4.500%, 

7/15/2027

2,546,398

LyondellBasell

Industries

NV

600,000

6.000%, 

11/15/2021

633,233

Methanex

Corporation

220,000

5.250%, 

12/15/2029

212,850

Novelis

Corporation

360,000

5.875%, 

9/30/2026

f

384,088

Steel

Dynamics,

Inc.

1,100,000

3.250%, 

1/15/2031

1,203,097

Syngenta

Finance

NV

1,825,000

4.441%, 

4/24/2023

f

1,919,133

Teck

Resources,

Ltd.

1,730,000

6.125%, 

10/1/2035

2,023,936

Tronox

Finance

plc

360,000

5.750%, 

10/1/2025

f

356,400

Vale

Overseas,

Ltd.

1,080,000

6.250%, 

8/10/2026

1,298,160

2,000,000

3.750%, 

7/8/2030

2,146,940

Westlake

Chemical

Corporation

1,800,000

3.600%, 

8/15/2026

1,967,318

WestRock

Company

730,000

3.750%, 

3/15/2025

817,385

Total

25,470,102

Capital

Goods

(2.9%)

Amsted

Industries,

Inc.

145,000

5.625%, 

7/1/2027

f

152,975

BAE

Systems

plc

1,030,000

4.750%, 

10/11/2021

f

1,077,033

1,700,000

3.400%, 

4/15/2030

f

1,916,406

Carrier

Global

Corporation

1,450,000

2.700%, 

2/15/2031

f

1,528,948

CNH

Industrial

Capital,

LLC

1,440,000

4.875%, 

4/1/2021

1,477,239

CNH

Industrial

NV

1,440,000

3.850%, 

11/15/2027

1,554,290

Crown

Cork

&

Seal

Company,

Inc.

360,000

7.375%, 

12/15/2026

424,800

General

Electric

Capital

Corporation

1,800,000

1.313%, 

(LIBOR

3M

+

1.000%),

3/15/2023

b

1,784,895

General

Electric

Company

2,800,000

5.000%, 

1/21/2021

b,h

2,219,000

1,450,000

3.450%, 

5/1/2027

1,523,970

Huntington

Ingalls

Industries,

Inc.

1,100,000

3.844%, 

5/1/2025

f

1,221,925

John

Deere

Capital

Corporation

1,750,000

1.750%, 

3/9/2027

1,845,694

L3Harris

Technologies,

Inc.

720,000

4.950%, 

2/15/2021

728,625

Northrop

Grumman

Corporation

1,250,000

3.250%, 

1/15/2028

1,429,660

Owens-Brockway

Glass

Container,

Inc.

500,000

5.875%, 

8/15/2023

f

527,850

Parker-Hannifin

Corporation

1,750,000

4.000%, 

6/14/2049

2,191,754

Roper

Technologies,

Inc.

1,260,000

3.800%, 

12/15/2026

1,467,628

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

78

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Capital

Goods

(2.9%)

-

continued

Spirit

AeroSystems,

Inc.

$

1,800,000

1.113%, 

(LIBOR

3M

+

0.800%),

6/15/2021

b

$

1,669,395

Textron,

Inc.

720,000

4.300%, 

3/1/2024

775,060

370,000

3.875%, 

3/1/2025

399,134

1,440,000

3.650%, 

3/15/2027

1,543,803

United

Rentals

North

America,

Inc.

360,000

4.000%, 

7/15/2030

372,600

United

Technologies

Corporation

1,075,000

3.950%, 

8/16/2025

1,245,045

1,075,000

4.450%, 

11/16/2038

1,388,476

Total

30,466,205

Collateralized

Mortgage

Obligations

(0.1%)

GMAC

Mortgage

Corporation

Loan

Trust

90,681

0.672%, 

(LIBOR

1M

+

0.500%),

8/25/2035,

Ser.

2005-HE1,

Class

A2

b,i

95,672

IndyMac

Seconds

Asset-Backed

Trust

617,388

0.512%, 

(LIBOR

1M

+

0.340%),

10/25/2036,

Ser.

2006-2B,

Class

A

b,i

334,581

Wachovia

Mortgage

Loan

Trust,

LLC

282,817

3.898%, 

5/20/2036,

Ser.

2006-A,

Class

2A1

b

276,139

Total

706,392

Communications

Services

(8.7%)

AMC

Networks,

Inc.

160,000

5.000%, 

4/1/2024

162,600

American

Tower

Corporation

1,440,000

3.125%, 

1/15/2027

1,593,806

AT&T,

Inc.

2,150,000

1.498%, 

(LIBOR

3M

+

1.180%),

6/12/2024

b

2,181,730

760,000

3.400%, 

5/15/2025

845,239

2,880,000

4.250%, 

3/1/2027

3,371,831

1,519,000

4.300%, 

2/15/2030

1,824,355

1,750,000

2.750%, 

6/1/2031

1,873,237

1,810,000

4.300%, 

12/15/2042

2,142,639

2,850,000

3.100%, 

2/1/2043

e

2,919,362

1,800,000

4.500%, 

3/9/2048

2,199,626

2,500,000

4.550%, 

3/9/2049

3,061,608

British

Telecommunications

plc

1,800,000

4.500%, 

12/4/2023

2,011,502

CCO

Holdings,

LLC

220,000

5.500%, 

5/1/2026

f

232,716

360,000

4.750%, 

3/1/2030

f

383,175

140,000

4.500%, 

8/15/2030

f

148,386

Charter

Communications

Operating,

LLC

2,500,000

4.800%, 

3/1/2050

3,008,159

1,700,000

4.908%, 

7/23/2025

1,970,832

1,525,000

6.484%, 

10/23/2045

2,141,989

Clear

Channel

Worldwide

Holdings,

Inc.

360,000

5.125%, 

8/15/2027

f

352,800

Comcast

Corporation

1,080,000

3.375%, 

8/15/2025

1,215,912

1,800,000

3.300%, 

4/1/2027

2,057,652

292,000

6.400%, 

5/15/2038

459,353

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Communications

Services

(8.7%)

-

continued

$

1,600,000

4.600%, 

10/15/2038

$

2,165,482

1,850,000

3.750%, 

4/1/2040

2,305,087

1,800,000

4.650%, 

7/15/2042

2,453,018

Cox

Communications,

Inc.

1,800,000

3.350%, 

9/15/2026

f

2,022,613

315,000

4.800%, 

2/1/2035

f

404,978

1,400,000

4.700%, 

12/15/2042

f

1,847,908

Crown

Castle

International

Corporation

2,340,000

5.250%, 

1/15/2023

2,601,438

CSC

Holdings,

LLC

300,000

4.125%, 

12/1/2030

f

316,125

Discovery

Communications,

LLC

2,500,000

4.650%, 

5/15/2050

3,001,014

900,000

4.900%, 

3/11/2026

1,054,924

Fox

Corporation

1,800,000

5.476%, 

1/25/2039

2,489,664

Front

Range

BidCo,

Inc.

180,000

4.000%, 

3/1/2027

f

180,398

iHeartCommunications,

Inc.

100,000

4.750%, 

1/15/2028

f

99,280

Level

3

Financing,

Inc.

360,000

5.250%, 

3/15/2026

376,009

Nexstar

Escrow

Corporation

360,000

5.625%, 

7/15/2027

f

385,308

Omnicom

Group,

Inc.

560,000

3.650%, 

11/1/2024

620,081

700,000

4.200%, 

6/1/2030

832,288

SFR

Group

SA

180,000

7.375%, 

5/1/2026

f

191,997

Sinclair

Television

Group,

Inc.

360,000

5.875%, 

3/15/2026

f

360,900

Sirius

XM

Radio,

Inc.

360,000

4.125%, 

7/1/2030

f

379,908

Sprint

Capital

Corporation

130,000

6.875%, 

11/15/2028

168,571

Sprint

Corporation

3,120,000

7.125%, 

6/15/2024

3,639,636

Time

Warner

Cable,

Inc.

2,200,000

4.125%, 

2/15/2021

2,221,373

Time

Warner

Entertainment

Company,

LP

780,000

8.375%, 

3/15/2023

924,066

T-Mobile

USA,

Inc.

200,000

4.500%, 

2/1/2026

206,000

3,550,000

3.750%, 

4/15/2027

f

4,033,545

VeriSign,

Inc.

360,000

4.750%, 

7/15/2027

390,881

Verizon

Communications,

Inc.

1,400,000

4.000%, 

3/22/2050

1,883,647

1,260,000

3.500%, 

11/1/2024

1,404,236

2,600,000

1.492%, 

(LIBOR

3M

+

1.100%),

5/15/2025

b

2,660,892

2,150,000

4.272%, 

1/15/2036

2,762,433

1,080,000

5.250%, 

3/16/2037

1,523,081

Viacom,

Inc.

1,800,000

4.375%, 

3/15/2043

1,996,953

Virgin

Media

Secured

Finance

plc

540,000

5.500%, 

8/15/2026

f

573,636

Vodafone

Group

plc

1,350,000

5.000%, 

5/30/2038

1,749,629

Walt

Disney

Company

1,100,000

7.625%, 

11/30/2028

1,603,232

2,100,000

3.500%, 

5/13/2040

2,412,346

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

79

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Communications

Services

(8.7%)

-

continued

Windstream

Services,

LLC

$

90,000

8.625%, 

10/31/2025

c,f

$

54,000

Total

90,455,086

Consumer

Cyclical

(5.3%)

Amazon.com,

Inc.

1,800,000

1.500%, 

6/3/2030

1,864,556

American

Honda

Finance

Corporation

1,400,000

2.150%, 

9/10/2024

1,478,515

Brookfield

Property

REIT,

Inc.

170,000

5.750%, 

5/15/2026

f

140,571

Brookfield

Residential

Properties,

Inc.

225,000

6.250%, 

9/15/2027

f

225,000

Cedar

Fair,

LP

280,000

5.250%, 

7/15/2029

264,516

Choice

Hotels

International,

Inc.

1,900,000

3.700%, 

1/15/2031

1,982,992

Colt

Merger

Sub,

Inc.

180,000

6.250%, 

7/1/2025

f

188,460

D.R.

Horton,

Inc.

1,050,000

2.600%, 

10/15/2025

1,121,804

Daimler

Finance

North

America,

LLC

1,100,000

1.106%, 

(LIBOR

3M

+

0.550%),

5/4/2021

b,f

1,098,482

1,100,000

1.750%, 

3/10/2023

f

1,125,141

Ford

Motor

Credit

Company,

LLC

1,100,000

3.470%, 

4/5/2021

1,100,000

1,425,000

4.250%, 

9/20/2022

1,453,500

General

Motors

Company

700,000

6.125%, 

10/1/2025

816,075

3,575,000

6.800%, 

10/1/2027

4,353,124

770,000

5.000%, 

4/1/2035

847,506

General

Motors

Financial

Company,

Inc.

1,900,000

3.450%, 

4/10/2022

1,952,564

1,490,000

4.000%, 

1/15/2025

1,585,744

Hanesbrands,

Inc.

360,000

4.625%, 

5/15/2024

f

380,772

Harley-Davidson

Financial

Services,

Inc.

1,870,000

4.050%, 

2/4/2022

f

1,942,434

Home

Depot,

Inc.

1,750,000

2.500%, 

4/15/2027

1,936,329

1,820,000

4.250%, 

4/1/2046

2,452,898

Hyundai

Capital

America

1,050,000

3.000%, 

3/18/2021

f

1,060,254

2,150,000

2.450%, 

6/15/2021

f

2,170,313

Hyundai

Capital

Services,

Inc.

1,080,000

3.000%, 

3/6/2022

f

1,108,628

Kohl's

Corporation

1,500,000

9.500%, 

5/15/2025

1,788,333

Lennar

Corporation

1,270,000

2.950%, 

11/29/2020

1,264,742

1,100,000

4.125%, 

1/15/2022

1,126,125

1,100,000

4.500%, 

4/30/2024

1,190,750

Lowe's

Companies,

Inc.

1,100,000

5.000%, 

4/15/2040

1,503,165

Marriott

International

1,100,000

4.625%, 

6/15/2030

1,179,200

Mastercard,

Inc.

1,100,000

3.850%, 

3/26/2050

1,472,777

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Consumer

Cyclical

(5.3%)

-

continued

McDonald's

Corporation

$

1,825,000

4.450%, 

3/1/2047

$

2,377,697

ServiceMaster

Company,

LLC

280,000

5.125%, 

11/15/2024

f

288,400

Six

Flags

Entertainment

Corporation

70,000

5.500%, 

4/15/2027

f

66,150

Six

Flags

Theme

Parks,

Inc.

40,000

7.000%, 

7/1/2025

f

42,932

ViacomCBS,

Inc.

1,800,000

4.200%, 

5/19/2032

2,066,771

Visa,

Inc.

1,400,000

1.900%, 

4/15/2027

1,495,412

Volkswagen

Group

of

America

Finance,

LLC

1,550,000

4.250%, 

11/13/2023

f

1,711,727

1,750,000

3.350%, 

5/13/2025

f

1,909,539

Walgreens

Boots

Alliance.

Inc.

3,000,000

4.100%, 

4/15/2050

3,121,661

Total

55,255,559

Consumer

Non-Cyclical

(12.5%)

Abbott

Laboratories

1,632,000

3.750%, 

11/30/2026

1,921,000

810,000

4.750%, 

11/30/2036

1,138,872

1,500,000

6.000%, 

4/1/2039

2,387,167

AbbVie,

Inc.

2,540,000

3.200%, 

5/14/2026

2,836,026

1,450,000

2.950%, 

11/21/2026

f

1,600,257

1,800,000

3.200%, 

11/21/2029

f

2,023,051

1,800,000

4.050%, 

11/21/2039

f

2,204,623

Albertson's

Companies,

Inc.

360,000

6.625%, 

6/15/2024

374,616

Altria

Group,

Inc.

1,800,000

4.450%, 

5/6/2050

2,137,777

1,800,000

4.800%, 

2/14/2029

2,169,130

2,850,000

5.800%, 

2/14/2039

3,753,138

Amgen,

Inc.

1,800,000

3.375%, 

2/21/2050

2,108,226

Anheuser-Busch

Companies,

LLC

1,790,000

4.700%, 

2/1/2036

2,199,501

Anheuser-Busch

InBev

Worldwide,

Inc.

2,175,000

4.000%, 

4/13/2028

2,545,755

2,500,000

3.500%, 

6/1/2030

2,860,618

1,450,000

4.600%, 

4/15/2048

1,793,795

1,800,000

4.439%, 

10/6/2048

2,184,264

BAT

Capital

Corporation

1,500,000

5.282%, 

4/2/2050

1,910,767

1,450,000

3.222%, 

8/15/2024

1,565,461

1,750,000

4.700%, 

4/2/2027

2,039,495

Bausch

Health

Companies,

Inc.

30,000

5.000%, 

1/30/2028

f

30,149

Baxalta,

Inc.

871,000

4.000%, 

6/23/2025

994,865

Becton,

Dickinson

and

Company

1,750,000

3.363%, 

6/6/2024

1,903,964

2,150,000

3.700%, 

6/6/2027

2,460,208

Boston

Scientific

Corporation

1,340,000

3.375%, 

5/15/2022

1,403,390

1,050,000

3.750%, 

3/1/2026

1,208,995

928,000

7.375%, 

1/15/2040

1,515,701

Bunge,

Ltd.

Finance

Corporation

1,080,000

3.500%, 

11/24/2020

1,087,563

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

80

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Consumer

Non-Cyclical

(12.5%)

-

continued

Cargill,

Inc.

$

1,750,000

3.250%, 

5/23/2029

f

$

1,998,673

Centene

Corporation

1,100,000

5.375%, 

6/1/2026

f

1,176,351

90,000

4.250%, 

12/15/2027

95,625

270,000

4.625%, 

12/15/2029

301,120

3,895,000

3.375%, 

2/15/2030

4,137,230

Cigna

Corporation

1,800,000

4.125%, 

11/15/2025

2,085,328

2,150,000

2.400%, 

3/15/2030

2,288,020

1,800,000

4.800%, 

8/15/2038

2,386,183

Conagra

Brands,

Inc.

500,000

4.600%, 

11/1/2025

582,924

Constellation

Brands,

Inc.

800,000

4.400%, 

11/15/2025

942,704

360,000

3.500%, 

5/9/2027

409,919

1,700,000

5.250%, 

11/15/2048

2,425,159

CVS

Health

Corporation

1,050,000

4.250%, 

4/1/2050

1,337,911

630,000

4.750%, 

12/1/2022

683,627

1,825,000

4.100%, 

3/25/2025

2,074,113

900,000

3.875%, 

7/20/2025

1,021,640

700,000

3.625%, 

4/1/2027

801,169

2,790,000

5.050%, 

3/25/2048

3,843,905

DENTSPLY

SIRONA,

Inc.

2,500,000

3.250%, 

6/1/2030

2,734,812

Encompass

Health

Corporation

175,000

4.500%, 

2/1/2028

182,875

HCA,

Inc.

360,000

5.375%, 

2/1/2025

405,900

Imperial

Brands

Finance

plc

1,800,000

3.500%, 

7/26/2026

f

1,967,056

Imperial

Tobacco

Finance

plc

1,310,000

3.750%, 

7/21/2022

f

1,369,212

JBS

USA,

LLC

360,000

6.500%, 

4/15/2029

f

407,700

Keurig

Dr.

Pepper,

Inc.

1,750,000

3.800%, 

5/1/2050

2,163,467

Kraft

Foods

Group,

Inc.

120,000

5.000%, 

6/4/2042

134,287

Kraft

Heinz

Foods

Company

1,100,000

5.500%, 

6/1/2050

f

1,289,938

720,000

3.000%, 

6/1/2026

761,322

250,000

3.750%, 

4/1/2030

f

270,893

Kroger

Company

1,800,000

2.650%, 

10/15/2026

1,983,284

Mylan,

Inc.

1,800,000

5.200%, 

4/15/2048

2,355,116

Nestle

Holdings,

Inc.

2,150,000

3.900%, 

9/24/2038

f

2,859,741

Par

Pharmaceutical,

Inc.

360,000

7.500%, 

4/1/2027

f

382,907

Perrigo

Finance

Unlimited

Company

1,100,000

3.150%, 

6/15/2030

1,172,362

QBE

Insurance

Group,

Ltd.

1,425,000

5.875%, 

5/12/2025

b,f,h

1,492,688

Reckitt

Benckiser

Treasury

Services

plc

1,620,000

2.750%, 

6/26/2024

f

1,746,897

Reynolds

American,

Inc.

2,000,000

4.850%, 

9/15/2023

2,245,008

940,000

5.850%, 

8/15/2045

1,242,103

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Consumer

Non-Cyclical

(12.5%)

-

continued

Shire

Acquisitions

Investments

Ireland

Designated

Activity

Company

$

1,800,000

2.875%, 

9/23/2023

$

1,917,015

Smithfield

Foods,

Inc.

4,500,000

2.650%, 

10/3/2021

f

4,490,464

Sysco

Corporation

900,000

5.950%, 

4/1/2030

1,142,016

Tenet

Healthcare

Corporation

360,000

5.125%, 

11/1/2027

f

382,500

Thermo

Fisher

Scientific,

Inc.

720,000

2.950%, 

9/19/2026

806,595

Tyson

Foods,

Inc.

720,000

3.550%, 

6/2/2027

819,995

UnitedHealth

Group,

Inc.

1,800,000

2.950%, 

10/15/2027

2,046,542

760,000

4.750%, 

7/15/2045

1,092,829

1,775,000

4.450%, 

12/15/2048

2,490,618

Upjohn,

Inc.

1,100,000

4.000%, 

6/22/2050

f

1,253,614

2,200,000

3.850%, 

6/22/2040

f

2,503,815

VRX

Escrow

Corporation

450,000

6.125%, 

4/15/2025

f

464,625

Zimmer

Biomet

Holdings,

Inc.

2,100,000

3.550%, 

3/20/2030

2,350,949

Total

129,879,120

Energy

(9.5%)

Antero

Resources

Corporation

60,000

5.000%, 

3/1/2025

38,025

Baker

Hughes,

LLC

1,425,000

4.486%, 

5/1/2030

1,694,604

BP

Capital

Markets

America,

Inc.

1,800,000

3.000%, 

2/24/2050

1,943,261

910,000

3.119%, 

5/4/2026

1,014,817

1,440,000

3.017%, 

1/16/2027

1,594,352

1,050,000

3.543%, 

4/6/2027

1,191,743

BP

Capital

Markets

plc

1,510,000

3.814%, 

2/10/2024

1,668,140

Buckeye

Partners,

LP

210,000

4.125%, 

3/1/2025

f

211,050

Canadian

Natural

Resources,

Ltd.

1,800,000

2.950%, 

7/15/2030

1,846,629

Centennial

Resource

Production,

LLC

360,000

5.375%, 

1/15/2026

f

161,100

Cheniere

Corpus

Christi

Holdings,

LLC

1,750,000

3.700%, 

11/15/2029

f

1,854,881

Cheniere

Energy

Partners,

LP

540,000

4.500%, 

10/1/2029

571,212

Chesapeake

Energy

Corporation

252,000

11.500%, 

1/1/2025

f,j,k

23,310

Continental

Resources,

Inc.

1,800,000

4.500%, 

4/15/2023

1,797,912

Diamondback

Energy,

Inc.

2,400,000

3.500%, 

12/1/2029

2,402,677

El

Paso

Pipeline

Partners

Operating

Company,

LLC

720,000

4.700%, 

11/1/2042

824,651

Enagas

SA

180,000

5.500%, 

1/15/2028

f

160,178

Enbridge,

Inc.

1,050,000

5.750%, 

7/15/2080

b

1,070,246

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

81

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Energy

(9.5%)

-

continued

Energy

Transfer

Operating,

LP

$

2,350,000

3.750%, 

5/15/2030

$

2,323,726

1,800,000

6.000%, 

6/15/2048

1,897,046

Energy

Transfer

Partners,

LP

2,520,000

4.200%, 

4/15/2027

2,633,957

Enterprise

Products

Operating,

LLC

2,300,000

3.200%, 

2/15/2052

e

2,283,448

1,010,000

3.700%, 

2/15/2026

1,148,975

1,800,000

4.875%, 

8/16/2077

b

1,597,500

EOG

Resources,

Inc.

600,000

4.950%, 

4/15/2050

820,510

2,000,000

4.375%, 

4/15/2030

2,434,139

EQM

Midstream

Partners,

LP

180,000

5.500%, 

7/15/2028

186,624

EQT

Corporation

360,000

3.900%, 

10/1/2027

g

339,228

Equinor

ASA

2,100,000

3.000%, 

4/6/2027

2,341,206

1,425,000

3.125%, 

4/6/2030

1,622,369

Exxon

Mobil

Corporation

1,750,000

4.327%, 

3/19/2050

2,347,494

Hess

Corporation

720,000

3.500%, 

7/15/2024

732,088

700,000

4.300%, 

4/1/2027

737,261

Kinder

Morgan,

Inc.

720,000

5.000%, 

2/15/2021

f

733,547

1,825,000

5.200%, 

3/1/2048

2,342,302

Marathon

Oil

Corporation

2,150,000

4.400%, 

7/15/2027

2,184,650

Marathon

Petroleum

Corporation

1,440,000

4.750%, 

12/15/2023

1,589,570

1,780,000

6.500%, 

3/1/2041

2,328,702

MPLX,

LP

1,450,000

3.500%, 

12/1/2022

1,513,001

1,450,000

4.875%, 

6/1/2025

1,642,840

1,750,000

4.800%, 

2/15/2029

2,019,224

1,080,000

5.200%, 

3/1/2047

1,217,031

Murphy

Oil

Corporation

140,000

5.875%, 

12/1/2027

128,800

Newfield

Exploration

Company

1,000,000

5.625%, 

7/1/2024

999,048

1,711,000

5.375%, 

1/1/2026

1,663,825

Noble

Energy,

Inc.

1,700,000

3.900%, 

11/15/2024

1,892,852

1,400,000

5.050%, 

11/15/2044

1,869,210

Occidental

Petroleum

Corporation

5,550,000

4.200%, 

3/15/2048

4,511,040

ONEOK,

Inc.

1,100,000

2.200%, 

9/15/2025

1,081,122

Petroleos

Mexicanos

2,900,000

6.500%, 

3/13/2027

2,762,250

1,800,000

6.750%, 

9/21/2047

1,462,500

Plains

All

American

Pipeline,

LP

1,800,000

4.500%, 

12/15/2026

1,936,370

1,800,000

3.550%, 

12/15/2029

1,777,775

1,800,000

3.800%, 

9/15/2030

1,800,449

Sabine

Pass

Liquefaction,

LLC

1,090,000

5.750%, 

5/15/2024

1,241,657

700,000

4.500%, 

5/15/2030

f

804,196

Schlumberger

Holdings

Corporation

1,750,000

3.900%, 

5/17/2028

f

1,931,805

Suncor

Energy,

Inc.

1,080,000

3.600%, 

12/1/2024

1,183,748

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Energy

(9.5%)

-

continued

$

1,600,000

3.100%, 

5/15/2025

$

1,741,271

Sunoco

Logistics

Partners

Operations,

LP

1,800,000

3.450%, 

1/15/2023

1,850,211

2,500,000

4.000%, 

10/1/2027

2,561,463

Sunoco,

LP

360,000

5.500%, 

2/15/2026

369,000

Williams

Companies,

Inc.

1,800,000

7.500%, 

1/15/2031

2,361,003

Williams

Partners,

LP

1,070,000

4.500%, 

11/15/2023

1,173,071

900,000

3.750%, 

6/15/2027

986,547

1,730,000

4.850%, 

3/1/2048

2,059,918

Total

99,234,357

Financials

(25.4%)

Aegon

NV

1,400,000

0.736%, 

(USISDA

10Y

+

0.100%),

10/15/2020

b,h

1,005,340

AerCap

Ireland

Capital,

Ltd.

540,000

3.950%, 

2/1/2022

544,024

1,350,000

6.500%, 

7/15/2025

1,448,458

2,200,000

3.875%, 

1/23/2028

2,029,797

Air

Lease

Corporation

1,490,000

3.750%, 

2/1/2022

1,511,931

740,000

4.250%, 

9/15/2024

755,217

Ally

Financial,

Inc.

170,000

5.750%, 

11/20/2025

191,917

American

International

Group,

Inc.

1,800,000

4.200%, 

4/1/2028

2,122,041

Associated

Banc-Corporation

1,850,000

4.250%, 

1/15/2025

1,944,539

Australia

and

New

Zealand

Banking

Group,

Ltd.

1,800,000

2.950%, 

7/22/2030

b,f

1,867,232

Aviation

Capital

Group,

LLC

1,700,000

5.500%, 

12/15/2024

f

1,741,187

Avolon

Holdings

Funding,

Ltd.

700,000

5.250%, 

5/15/2024

f

653,250

3,600,000

4.375%, 

5/1/2026

f

3,184,661

Banco

Bilbao

Vizcaya

Argentaria

SA

1,600,000

6.500%, 

3/5/2025

b,h

1,522,000

Banco

del

Estado

de

Chile

2,150,000

2.704%, 

1/9/2025

f

2,227,938

Banco

Santander

SA

1,800,000

2.746%, 

5/28/2025

1,904,499

1,200,000

4.379%, 

4/12/2028

1,387,829

1,000,000

3.490%, 

5/28/2030

1,107,783

Bank

of

America

Corporation

1,857,000

3.004%, 

12/20/2023

b

1,957,402

1,670,000

4.200%, 

8/26/2024

1,872,070

1,640,000

6.500%, 

10/23/2024

b,h

1,835,660

1,800,000

4.000%, 

1/22/2025

2,011,628

1,250,000

3.950%, 

4/21/2025

1,399,837

730,000

3.875%, 

8/1/2025

834,939

1,800,000

3.093%, 

10/1/2025

b

1,952,785

1,800,000

3.705%, 

4/24/2028

b

2,058,978

1,450,000

4.271%, 

7/23/2029

b

1,726,629

2,030,000

3.194%, 

7/23/2030

b

2,268,858

Bank

of

New

York

Mellon

Corporation

1,075,000

4.700%, 

9/20/2025

b,h

1,163,989

Bank

of

Nova

Scotia

2,250,000

4.900%, 

6/4/2025

b,h

2,311,560

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

82

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Financials

(25.4%)

-

continued

Barclays

Bank

plc

$

1,090,000

10.179%, 

6/12/2021

f

$

1,170,906

Barclays

plc

1,800,000

7.875%, 

3/15/2022

b,h

1,845,792

1,600,000

4.338%, 

5/16/2024

b

1,735,177

350,000

8.000%, 

6/15/2024

b,h

370,563

720,000

4.836%, 

5/9/2028

811,437

Berkshire

Hathaway

Finance

Corporation

1,050,000

4.250%, 

1/15/2049

1,449,740

Boston

Properties,

LP

1,800,000

2.750%, 

10/1/2026

1,957,533

1,100,000

3.250%, 

1/30/2031

1,219,708

BPCE

SA

1,080,000

3.000%, 

5/22/2022

f

1,119,824

735,000

5.700%, 

10/22/2023

f

824,858

810,000

5.150%, 

7/21/2024

f

908,334

Capital

One

Bank

USA

NA

1,000,000

3.375%, 

2/15/2023

1,058,149

Capital

One

Financial

Corporation

1,810,000

4.200%, 

10/29/2025

2,032,758

Charles

Schwab

Corporation

1,450,000

5.375%, 

6/1/2025

b,h

1,587,750

CIT

Group,

Inc.

180,000

4.125%, 

3/9/2021

180,675

540,000

5.250%, 

3/7/2025

577,800

Citigroup,

Inc.

1,100,000

3.142%, 

1/24/2023

b

1,138,788

1,440,000

1.780%, 

(LIBOR

3M

+

1.430%),

9/1/2023

b

1,462,515

1,800,000

4.700%, 

1/30/2025

b,h

1,752,750

1,900,000

3.352%, 

4/24/2025

b

2,068,256

2,630,000

4.400%, 

6/10/2025

2,984,924

1,695,000

5.500%, 

9/13/2025

2,021,291

1,090,000

3.700%, 

1/12/2026

1,236,250

1,510,000

4.450%, 

9/29/2027

1,758,852

Citizens

Bank

NA

720,000

2.650%, 

5/26/2022

743,931

Citizens

Financial

Group,

Inc.

720,000

2.375%, 

7/28/2021

732,784

CNA

Financial

Corporation

1,130,000

7.250%, 

11/15/2023

1,352,642

350,000

3.950%, 

5/15/2024

385,408

1,750,000

3.450%, 

8/15/2027

1,948,466

Comerica,

Inc.

1,150,000

5.625%, 

7/1/2025

b,h

1,227,970

Commerzbank

AG

1,800,000

8.125%, 

9/19/2023

f

2,079,633

CoreStates

Capital

III

1,360,000

0.962%, 

(LIBOR

3M

+

0.570%),

2/15/2027

b,f

1,222,023

Credit

Acceptance

Corporation

90,000

5.125%, 

12/31/2024

f

91,620

Credit

Agricole

SA

720,000

3.375%, 

1/10/2022

f

746,791

2,200,000

3.250%, 

1/14/2030

f

2,414,036

Credit

Suisse

Group

AG

1,800,000

3.574%, 

1/9/2023

f

1,867,284

2,300,000

7.500%, 

7/17/2023

b,f,h

2,425,442

2,150,000

2.193%, 

6/5/2026

b,f

2,215,690

1,400,000

5.100%, 

1/24/2030

b,f,g,h

1,383,900

Danske

Bank

AS

2,950,000

5.000%, 

1/12/2023

b,f

3,095,844

1,050,000

3.244%, 

12/20/2025

b,f

1,125,716

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Financials

(25.4%)

-

continued

Deutsche

Bank

AG

$

2,200,000

6.000%, 

10/30/2025

b,h

$

1,914,660

2,800,000

3.961%, 

11/26/2025

b

2,986,048

Digital

Realty

Trust,

LP

1,550,000

2.750%, 

2/1/2023

1,628,497

Discover

Bank

865,000

4.200%, 

8/8/2023

953,497

1,400,000

2.450%, 

9/12/2024

1,485,130

2,510,000

4.682%, 

8/9/2028

b

2,604,351

Fidelity

National

Financial,

Inc.

730,000

5.500%, 

9/1/2022

786,977

Fidelity

National

Information

Services,

Inc.

1,100,000

3.750%, 

5/21/2029

1,316,848

First

Horizon

National

Corporation

2,100,000

4.000%, 

5/26/2025

2,281,415

Five

Corners

Funding

Trust

2,890,000

4.419%, 

11/15/2023

f

3,227,126

GE

Capital

Funding,

LLC

2,100,000

4.050%, 

5/15/2027

f

2,234,395

1,100,000

4.400%, 

5/15/2030

f

1,159,126

GE

Capital

International

Funding

Company

1,750,000

4.418%, 

11/15/2035

1,808,783

Goldman

Sachs

Group,

Inc.

1,150,000

2.876%, 

10/31/2022

b

1,180,719

1,080,000

2.908%, 

6/5/2023

b

1,122,273

810,000

4.000%, 

3/3/2024

899,742

2,550,000

3.850%, 

7/8/2024

2,823,529

1,800,000

4.950%, 

2/10/2025

b,h

1,805,530

1,510,000

4.250%, 

10/21/2025

1,724,752

HCP,

Inc.

37,000

4.250%, 

11/15/2023

40,542

Healthpeak

Properties,

Inc.

1,050,000

2.875%, 

1/15/2031

1,114,005

HSBC

Holdings

plc

720,000

6.875%, 

6/1/2021

b,h

734,021

1,800,000

1.386%, 

(LIBOR

3M

+

1.000%),

5/18/2024

b

1,799,412

1,150,000

3.803%, 

3/11/2025

b

1,245,456

1,440,000

4.300%, 

3/8/2026

1,647,129

900,000

6.000%, 

5/22/2027

b,h

890,550

1,080,000

4.041%, 

3/13/2028

b

1,205,359

Icahn

Enterprises,

LP

360,000

6.250%, 

5/15/2026

380,437

ING

Groep

NV

2,500,000

4.100%, 

10/2/2023

2,755,021

International

Lease

Finance

Corporation

1,440,000

5.875%, 

8/15/2022

1,554,818

Itau

Unibanco

Holding

SA

2,200,000

2.900%, 

1/24/2023

f

2,197,272

J.P.

Morgan

Chase

&

Company

730,000

6.750%, 

2/1/2024

b,h

809,081

1,800,000

5.000%, 

8/1/2024

b,h

1,811,250

2,000,000

3.875%, 

9/10/2024

2,235,248

1,800,000

4.600%, 

2/1/2025

b,h

1,741,680

2,200,000

3.900%, 

7/15/2025

2,505,183

1,800,000

2.950%, 

10/1/2026

2,000,129

1,800,000

2.956%, 

5/13/2031

b

1,961,452

1,400,000

3.882%, 

7/24/2038

b

1,744,065

1,850,000

5.500%, 

10/15/2040

2,769,991

Kilroy

Realty,

LP

1,450,000

4.250%, 

8/15/2029

1,641,235

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

83

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Financials

(25.4%)

-

continued

Kimco

Realty

Corporation

$

2,900,000

3.300%, 

2/1/2025

$

3,116,466

Liberty

Mutual

Group,

Inc.

1,065,000

4.950%, 

5/1/2022

f

1,139,050

Lincoln

National

Corporation

1,850,000

4.000%, 

9/1/2023

2,020,703

Lloyds

Bank

plc

1,090,000

4.650%, 

3/24/2026

1,237,409

Lloyds

Banking

Group

plc

2,250,000

2.858%, 

3/17/2023

b

2,325,039

1,050,000

7.500%, 

6/27/2024

b,h

1,107,750

700,000

7.500%, 

9/27/2025

b,h

741,125

1,100,000

2.438%, 

2/5/2026

b

1,154,787

Marsh

&

McLennan

Companies,

Inc.

800,000

4.375%, 

3/15/2029

990,226

MGM

Growth

Properties

Operating

Partnership,

LP

360,000

4.500%, 

9/1/2026

374,400

Mitsubishi

UFJ

Financial

Group,

Inc.

1,050,000

3.455%, 

3/2/2023

1,123,462

Mizuho

Financial

Group,

Inc.

1,440,000

3.663%, 

2/28/2027

1,624,485

Morgan

Stanley

1,795,000

4.875%, 

11/1/2022

1,956,783

1,810,000

1.664%, 

(LIBOR

3M

+

1.400%),

10/24/2023

b

1,838,518

1,000,000

2.720%, 

7/22/2025

b

1,069,054

1,130,000

4.000%, 

7/23/2025

1,299,692

720,000

3.125%, 

7/27/2026

808,323

1,490,000

4.350%, 

9/8/2026

1,745,947

2,400,000

3.622%, 

4/1/2031

b

2,806,511

930,000

4.300%, 

1/27/2045

1,259,286

MPT

Operating

Partnership,

LP

360,000

5.000%, 

10/15/2027

386,100

Nationwide

Building

Society

1,510,000

3.900%, 

7/21/2025

f

1,716,466

1,080,000

4.000%, 

9/14/2026

f

1,187,489

Nationwide

Mutual

Insurance

Company

1,775,000

4.350%, 

4/30/2050

f

2,011,803

Nippon

Life

Insurance

Company

1,450,000

3.400%, 

1/23/2050

b,f

1,544,250

Park

Aerospace

Holdings,

Ltd.

700,000

4.500%, 

3/15/2023

f

661,248

Peachtree

Corners

Funding

Trust

1,700,000

3.976%, 

2/15/2025

f

1,880,715

Preferred

Term

Securities

XXIII,

Ltd.

117,617

0.513%, 

(LIBOR

3M

+

0.200%),

12/22/2036

b,f

96,572

Provident

Financing

Trust

I

1,700,000

7.405%, 

3/15/2038

1,914,619

Prudential

Financial,

Inc.

2,200,000

3.700%, 

3/13/2051

2,631,026

700,000

5.200%, 

3/15/2044

b

739,464

Realty

Income

Corporation

2,170,000

3.875%, 

7/15/2024

2,399,988

Regency

Centers,

LP

1,440,000

3.600%, 

2/1/2027

1,554,384

Regions

Financial

Corporation

1,400,000

5.750%, 

6/15/2025

b,h

1,491,000

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Financials

(25.4%)

-

continued

Reinsurance

Group

of

America,

Inc.

$

1,450,000

4.700%, 

9/15/2023

$

1,601,185

Royal

Bank

of

Scotland

Group

plc

1,080,000

8.625%, 

8/15/2021

b,h

1,128,373

1,440,000

3.498%, 

5/15/2023

b

1,505,709

1,440,000

3.875%, 

9/12/2023

1,563,926

1,500,000

4.269%, 

3/22/2025

b

1,651,595

2,100,000

6.000%, 

12/29/2025

b,h

2,205,000

600,000

3.754%, 

11/1/2029

b

628,286

Santander

Holdings

USA,

Inc.

1,350,000

3.450%, 

6/2/2025

1,444,481

Santander

UK

Group

Holdings

plc

1,500,000

4.750%, 

9/15/2025

f

1,644,900

Spirit

Realty,

LP

2,250,000

3.400%, 

1/15/2030

2,278,204

Standard

Chartered

plc

1,550,000

2.744%, 

9/10/2022

b,f

1,568,582

1,750,000

1.422%, 

(LIBOR

3M

+

1.150%),

1/20/2023

b,f

1,752,730

Synchrony

Financial

1,050,000

4.250%, 

8/15/2024

1,115,228

1,050,000

3.950%, 

12/1/2027

1,107,971

Truist

Financial

Corporation

800,000

4.950%, 

9/1/2025

b,h

854,000

UBS

Group

Funding

Jersey,

Ltd.

900,000

2.650%, 

2/1/2022

f

929,939

1,510,000

4.125%, 

9/24/2025

f

1,733,939

UBS

Group

Funding

Switzerland

AG

1,440,000

4.253%, 

3/23/2028

f

1,674,358

Ventas

Realty,

LP

720,000

3.500%, 

2/1/2025

767,204

VEREIT

Operating

Partnership,

LP

750,000

4.625%, 

11/1/2025

823,956

1,900,000

3.400%, 

1/15/2028

1,971,298

VICI

Properties,

LP

/

VICI

Note

Company,

Inc.

90,000

4.250%, 

12/1/2026

f

92,700

90,000

4.625%, 

12/1/2029

f

94,725

Wells

Fargo

&

Company

2,000,000

4.125%, 

8/15/2023

2,185,767

1,440,000

3.000%, 

4/22/2026

1,577,935

1,800,000

2.393%, 

6/2/2028

b

1,891,076

Welltower,

Inc.

1,300,000

4.000%, 

6/1/2025

1,457,179

Westpac

Banking

Corporation

1,600,000

2.894%, 

2/4/2030

b

1,653,092

Total

264,462,000

Foreign

Government

(0.4%)

Bahrain

Government

International

Bond

1,750,000

5.875%, 

1/26/2021

1,776,845

Dominican

Republic

Government

International

Bond

550,000

6.000%, 

7/19/2028

f

584,375

Qatar

Government

International

Bond

1,100,000

4.500%, 

4/23/2028

f

1,329,130

Total

3,690,350

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

84

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Mortgage-Backed

Securities

(3.8%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

$

5,110,860

3.000%, 

3/25/2050

$

5,412,104

443,554

3.000%, 

4/1/2050

469,698

3,113,791

3.500%, 

7/1/2047

3,294,226

Federal

National

Mortgage

Association

575,095

4.500%, 

5/1/2048

618,716

2,291,644

3.500%, 

10/1/2048

2,419,941

2,018,503

3.500%, 

6/1/2049

2,134,284

2,628,424

3.500%, 

8/1/2049

2,782,014

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

2,150,000

2.000%, 

8/1/2035

e

2,236,336

4,750,000

2.500%, 

8/1/2035

e

4,985,273

1,325,000

2.000%, 

9/1/2035

e

1,376,344

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

6,000,000

2.500%, 

8/1/2050

e

6,303,047

4,100,000

2.000%, 

9/1/2050

e

4,239,818

500,000

3.000%, 

9/1/2043

e

527,794

2,361,679

4.000%, 

7/1/2048

2,507,151

Total

39,306,746

Technology

(5.4%)

Apple,

Inc.

2,550,000

3.250%, 

2/23/2026

2,893,393

1,080,000

3.750%, 

9/12/2047

1,391,428

Applied

Materials,

Inc.

720,000

3.300%, 

4/1/2027

833,838

Broadcom

Corporation

4,350,000

3.875%, 

1/15/2027

4,831,937

1,800,000

3.500%, 

1/15/2028

1,953,633

Broadcom,

Inc.

2,150,000

4.250%, 

4/15/2026

f

2,428,037

1,800,000

5.000%, 

4/15/2030

f

2,139,063

Dell

International,

LLC/

EMC

Corporation

700,000

6.100%, 

7/15/2027

f

827,467

Diamond

1

Finance

Corporation

238,000

5.875%, 

6/15/2021

f

238,298

3,775,000

6.020%, 

6/15/2026

f

4,425,610

Diamond

Sports

Group,

LLC

130,000

5.375%, 

8/15/2026

f

100,109

180,000

6.625%, 

8/15/2027

f

98,550

Fiserv,

Inc.

700,000

2.750%, 

7/1/2024

755,560

1,775,000

3.200%, 

7/1/2026

2,000,141

2,100,000

2.650%, 

6/1/2030

2,297,467

Hewlett

Packard

Enterprise

Company

1,250,000

2.250%, 

4/1/2023

1,292,897

1,400,000

4.650%, 

10/1/2024

1,574,268

Iron

Mountain,

Inc.

360,000

4.875%, 

9/15/2029

f

375,030

Lam

Research

Corporation

1,750,000

4.000%, 

3/15/2029

2,128,388

Marvell

Technology

Group,

Ltd.

900,000

4.200%, 

6/22/2023

973,948

1,100,000

4.875%, 

6/22/2028

1,353,048

Micron

Technology,

Inc.

1,750,000

5.327%, 

2/6/2029

2,133,062

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Technology

(5.4%)

-

continued

NVIDIA

Corporation

$

1,800,000

3.500%, 

4/1/2040

$

2,148,858

NXP

BV/NXP

Funding,

LLC

1,750,000

4.875%, 

3/1/2024

f

1,968,517

1,750,000

5.350%, 

3/1/2026

f

2,096,987

NXP

Funding,

LLC

1,100,000

3.150%, 

5/1/2027

f

1,197,706

Oracle

Corporation

2,100,000

2.800%, 

4/1/2027

2,331,800

1,800,000

4.300%, 

7/8/2034

2,311,151

Panasonic

Corporation

1,600,000

3.113%, 

7/19/2029

f

1,773,171

Seagate

HDD

Cayman

3,029,000

4.125%, 

1/15/2031

f

3,251,083

Texas

Instruments,

Inc.

1,800,000

4.150%, 

5/15/2048

2,503,957

Total

56,628,402

Transportation

(1.7%)

AerCap

Holdings

NV

1,800,000

5.875%, 

10/10/2079

b

1,380,258

Aircastle,

Ltd.

1,785,000

4.400%, 

9/25/2023

1,769,667

Burlington

Northern

Santa

Fe,

LLC

1,500,000

4.700%, 

9/1/2045

2,139,169

1,800,000

4.050%, 

6/15/2048

2,383,576

CSX

Corporation

1,100,000

2.400%, 

2/15/2030

1,188,325

Delta

Air

Lines,

Inc.

752,757

4.250%, 

7/30/2023

688,354

1,800,000

2.900%, 

10/28/2024

1,561,742

300,000

7.000%, 

5/1/2025

f

320,625

Penske

Truck

Leasing

Company,

LP

1,400,000

3.375%, 

2/1/2022

f

1,444,836

Southwest

Airlines

Company

1,525,000

5.250%, 

5/4/2025

1,633,255

2,200,000

5.125%, 

6/15/2027

2,308,280

United

Airlines

Pass

Through

Trust

678,695

3.750%, 

9/3/2026

626,426

XPO

Logistics,

Inc.

360,000

6.125%, 

9/1/2023

f

367,088

Total

17,811,601

U.S.

Government

&

Agencies

(5.5%)

U.S.

Treasury

Bonds

8,500,000

2.000%, 

2/15/2050

10,206,641

3,600,000

1.250%, 

5/15/2050

3,643,031

7,500,000

1.625%, 

8/15/2029

8,247,949

11,000,000

1.750%, 

11/15/2029

12,245,664

5,000,000

1.500%, 

2/15/2030

5,456,640

14,000,000

2.250%, 

8/15/2049

17,636,172

Total

57,436,097

Utilities

(8.2%)

AEP

Transmission

Company,

LLC

2,520,000

3.100%, 

12/1/2026

2,853,770

Ameren

Illinois

Company

1,050,000

4.500%, 

3/15/2049

1,489,982

American

Water

Capital

Corporation

1,800,000

3.450%, 

5/1/2050

2,222,793

Arizona

Public

Service

Company

1,800,000

3.500%, 

12/1/2049

2,112,521

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

85

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Utilities

(8.2%)

-

continued

Baltimore

Gas

and

Electric

Company

$

1,440,000

2.400%, 

8/15/2026

$

1,557,701

Berkshire

Hathaway

Energy

Company

1,425,000

4.450%, 

1/15/2049

1,984,809

CenterPoint

Energy,

Inc.

2,340,000

2.500%, 

9/1/2022

2,428,058

1,750,000

2.950%, 

3/1/2030

1,931,146

CMS

Energy

Corporation

1,440,000

3.450%, 

8/15/2027

1,630,556

Consolidated

Edison

Company

of

New

York,

Inc.

720,000

2.900%, 

12/1/2026

789,289

2,250,000

4.125%, 

5/15/2049

2,960,064

Dominion

Energy,

Inc.

1,600,000

3.071%, 

8/15/2024

1,737,892

1,250,000

4.650%, 

12/15/2024

b,h

1,273,001

Duke

Energy

Corporation

2,160,000

2.650%, 

9/1/2026

2,381,068

2,160,000

3.150%, 

8/15/2027

2,441,205

1,800,000

3.750%, 

9/1/2046

2,217,787

Edison

International

3,700,000

5.750%, 

6/15/2027

4,311,752

Exelon

Corporation

900,000

3.497%, 

6/1/2022

942,460

880,000

3.950%, 

6/15/2025

1,008,948

340,000

3.400%, 

4/15/2026

384,982

Exelon

Generation

Company,

LLC

1,700,000

3.250%, 

6/1/2025

1,876,506

FirstEnergy

Corporation

2,520,000

3.900%, 

7/15/2027

2,775,326

700,000

4.850%, 

7/15/2047

865,087

FirstEnergy

Transmission,

LLC

1,850,000

5.450%, 

7/15/2044

f

2,409,185

Georgia

Power

Company

1,800,000

2.650%, 

9/15/2029

1,944,426

ITC

Holdings

Corporation

2,920,000

4.050%, 

7/1/2023

3,153,470

National

Rural

Utilities

Cooperative

Finance

Corporation

1,400,000

4.400%, 

11/1/2048

1,939,912

Nevada

Power

Company

1,700,000

6.750%, 

7/1/2037

2,691,164

NextEra

Energy

Operating

Partners,

LP

360,000

3.875%, 

10/15/2026

f

376,200

NiSource

Finance

Corporation

1,080,000

4.375%, 

5/15/2047

1,427,573

NiSource,

Inc.

1,800,000

3.600%, 

5/1/2030

2,120,076

Oncor

Electric

Delivery

Company,

LLC

1,510,000

3.750%, 

4/1/2045

1,920,119

Pacific

Gas

and

Electric

Company

730,000

2.950%, 

3/1/2026

c,g

760,032

1,100,000

3.300%, 

12/1/2027

c

1,162,280

1,100,000

3.950%, 

12/1/2047

c

1,168,229

PPL

Capital

Funding,

Inc.

1,795,000

3.500%, 

12/1/2022

1,897,621

1,810,000

3.950%, 

3/15/2024

1,971,464

PPL

Electric

Utilities

Corporation

2,200,000

3.000%, 

10/1/2049

2,537,457

Principal

Amount

Long-Term

Fixed

Income

(93.3%)

Value

Utilities

(8.2%)

-

continued

San

Diego

Gas

and

Electric

Company

$

1,800,000

4.150%, 

5/15/2048

$

2,364,130

Sempra

Energy

1,400,000

4.875%, 

10/15/2025

b,h

1,449,420

1,800,000

3.250%, 

6/15/2027

2,029,456

Southern

California

Edison

Company

1,800,000

3.650%, 

2/1/2050

2,055,538

Southern

Company

4,370,000

3.250%, 

7/1/2026

4,962,114

TerraForm

Power

Operating,

LLC

360,000

5.000%, 

1/31/2028

f

396,900

Total

84,913,469

Total

Long-Term

Fixed

Income

(cost

$877,330,382)

969,819,847

Shares

Registered

Investment

Companies

(

2.0%

)

Value

Unaffiliated  (2.0%)

70,000

iShares

J.P.

Morgan

USD

Emerging

Markets

Bond

ETF

7,916,300

200,000

iShares

S&P

U.S.

Preferred

Stock

Index

Fund

7,236,000

70,000

Vanguard

Short-Term

Corporate

Bond

ETF

5,817,000

Total

20,969,300

Total

Registered

Investment

Companies

(cost

$19,424,126)

20,969,300

Shares

Collateral

Held

for

Securities

Loaned

(

0.2%

)

Value

2,400,710

Thrivent

Cash

Management

Trust

2,400,710

Total

Collateral

Held

for

Securities

Loaned

(cost

$2,400,710)

2,400,710

Shares

Preferred

Stock

(

0.1%

)

Value

Financials

(0.1%)

12,500

Cobank

ACB,

6.250%

b,h

1,281,250

Total

1,281,250

Total

Preferred

Stock

(cost

$1,250,000)

1,281,250

Shares

or

Principal

Amount

Short-Term

Investments

(

5.8%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

100,000

0.125%,

8/12/2020

l,m

99,998

300,000

0.160%,

9/2/2020

l,m

299,977

300,000

0.090%,

9/22/2020

l,m

299,963

Thrivent

Core

Short-Term

Reserve

Fund

5,902,952

0.500%

59,088,550

Total

Short-Term

Investments

(cost

$59,695,369)

59,788,488

Total

Investments

(cost

$967,020,615)

102.1%

$1,060,832,041

Other

Assets

and

Liabilities,

Net

(2.1%)

(21,571,357)

Total

Net

Assets

100.0%

$1,039,260,684

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

86

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

In

bankruptcy.  Interest

is

being

accrued

per

the

bankruptcy

agreement

terms.  

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

f

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$180,856,022

or

17.4%

of

total

net

assets.

g

All

or

a

portion

of

the

security

is

on

loan.

h

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

i

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

j

Defaulted

security.  Interest

is

not

being

accrued.

k

In

bankruptcy.  Interest

is

not

being

accrued.

l

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

m

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Income

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

2,349,108

Total

lending

$2,349,108

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$2,400,710

Net

amounts

due

to

counterparty

$51,602

Definitions:

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

Reference

Rate

Index:

LIBOR

1W

-

ICE

Libor

USD

Rate

1

Week

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

2M

-

ICE

Libor

USD

Rate

2

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

USISDA

10Y

-

ICE

Swap

USD

Rate

10

Year

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

87

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Income

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

193,560

–

193,560

–

Capital

Goods

599,374

–

599,374

–

Communications

Services

1,382,223

–

1,382,223

–

Consumer

Cyclical

1,218,894

–

1,218,894

–

Consumer

Non-Cyclical

1,213,159

–

1,213,159

–

Energy

582,582

–

582,582

–

Financials

757,907

–

757,907

–

Technology

624,747

–

624,747

–

Long-Term

Fixed

Income

Asset-Backed

Securities

14,104,361

–

14,104,361

–

Basic

Materials

25,470,102

–

25,470,102

–

Capital

Goods

30,466,205

–

30,466,205

–

Collateralized

Mortgage

Obligations

706,392

–

706,392

–

Communications

Services

90,455,086

–

90,455,086

–

Consumer

Cyclical

55,255,559

–

55,255,559

–

Consumer

Non-Cyclical

129,879,120

–

129,879,120

–

Energy

99,234,357

–

99,234,357

–

Financials

264,462,000

–

264,462,000

–

Foreign

Government

3,690,350

–

3,690,350

–

Mortgage-Backed

Securities

39,306,746

–

39,306,746

–

Technology

56,628,402

–

56,628,402

–

Transportation

17,811,601

–

17,811,601

–

U.S.

Government

&

Agencies

57,436,097

–

57,436,097

–

Utilities

84,913,469

–

84,913,469

–

Registered

Investment

Companies

Unaffiliated

20,969,300

20,969,300

–

–

Preferred

Stock

Financials

1,281,250

–

1,281,250

–

Short-Term

Investments

699,938

–

699,938

–

Subtotal

Investments

in

Securities

$999,342,781

$20,969,300

$978,373,481

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

59,088,550

Collateral

Held

for

Securities

Loaned

2,400,710

Subtotal

Other

Investments

$61,489,260

Total

Investments

at

Value

$1,060,832,041

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

587,098

587,098

–

–

Total

Asset

Derivatives

$587,098

$587,098

$–

$–

Income

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

88

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

The

following

table

presents

Income

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$699,938

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

U.S.

Long

Bond

104

September

2020

$

18,370,152

$

587,098

Total

Futures

Long

Contracts

$

18,370,152

$

587,098

Total

Futures

Contracts

$

18,370,152

$587,098

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Income

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$90,196

$281,107

$312,242

$59,089

5,903

5.7%

Total

Affiliated

Short-Term

Investments

90,196

59,089

5.7

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

8,587

81,248

87,434

2,401

2,401

0.2

Total

Collateral

Held

for

Securities

Loaned

8,587

2,401

0.2

Total

Value

$98,783

$61,490

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(66)

$93

$1

$829

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$829

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

16

Total

Affiliated

Income

from

Securities

Loaned,

Net

$16

Total

$(66)

$93

$1

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

89

Shares

Common

Stock

(

93.3%

)

Value

Argentina

(<0.1%)

1,343

Telecom

Argentina

SA

ADR

$

11,711

Total

11,711

Australia

(5.2%)

29,636

AGL

Energy,

Ltd.

351,052

13,889

Ansell,

Ltd.

381,348

100,806

Aristocrat

Leisure,

Ltd.

1,890,061

1,789

AUB

Group,

Ltd.

16,667

733,978

Beach

Energy,

Ltd.

735,588

70,301

BHP

Group,

Ltd.

1,850,942

38,233

Breville

Group,

Ltd.

705,135

67,526

BWP

Trust

185,116

148,099

Carsales.com,

Ltd.

1,936,111

146,429

Charter

Hall

Group

1,091,624

117,097

Commonwealth

Bank

of

Australia

5,957,287

12,107

Computershare,

Ltd.

115,874

56,774

CSL,

Ltd.

11,042,682

3,808

Data#

3,

Ltd.

15,377

228,398

Genworth

Mortgage

Insurance

Australia,

Ltd.

276,300

195,563

Gold

Road

Resources,

Ltd.

a

263,266

348,198

Independence

Group

NL

1,146,105

155,616

IPH,

Ltd.

824,639

10,158

IRESS,

Ltd.

74,625

34,122

Kogan.com,

Ltd.

405,934

69,848

Mineral

Resources,

Ltd.

1,286,170

8,637

Newcrest

Mining,

Ltd.

220,034

11,207

Nick

Scali,

Ltd.

58,613

23,049

Northern

Star

Resources,

Ltd.

261,600

20,927

OZ

Minerals,

Ltd.

203,115

75,036

Pendal

Group,

Ltd.

310,140

391,842

Perseus

Mining,

Ltd.

a

446,063

44,896

Pro

Medicus,

Ltd.

767,345

241,757

Ramelius

Resources,

Ltd.

382,169

307,829

Regis

Resources,

Ltd.

1,254,338

38,406

Rio

Tinto,

Ltd.

2,810,880

43,822

Sandfire

Resources,

Ltd.

148,935

56,160

Select

Harvests,

Ltd.

239,801

261,476

Silver

Lake

Resources,

Ltd.

a

468,011

31,233

Smartgroup

Corporation,

Ltd.

134,362

24,874

Super

Retail

Group,

Ltd.

157,215

142,285

Technology

One,

Ltd.

853,850

112,409

Transurban

Group

a

1,111,893

423,321

Vita

Group,

Ltd.

309,907

51,601

Webjet,

Ltd.

103,042

109,134

Western

Areas,

Ltd.

187,207

184,910

Westgold

Resources,

Ltd.

a

317,910

46,491

Woodside

Petroleum,

Ltd.

661,386

Total

41,959,719

Austria

(0.2%)

4,960

AT&S

Austria

Technologie

&

Systemtechnik

AG

93,812

10,763

BAWAG

Group

AG

b

395,125

3,393

Immofinanz

AG

a

55,967

22,228

OMV

AG

a

702,003

408

Osterreichische

Post

AG

13,048

14,688

UNIQA

Insurance

Group

AG

92,845

7,562

Wienerberger

AG

a

173,433

Total

1,526,233

Belgium

(0.5%)

27,229

Barco

NV

536,428

23,854

bpost

SA

155,158

2,120

Gimv

NV

114,237

10,164

Groupe

Bruxelles

Lambert

SA

881,634

Shares

Common

Stock

(93.3%)

Value

Belgium

(0.5%)

-

continued

7,003

KBC

Ancora

a

$

234,175

5,938

Mobistar

SA

99,424

2,987

NV

Bekaert

SA

58,157

9,352

SA

D'Ieteren

NV

504,843

3,764

UCB

SA

483,644

20,926

Warehouses

De

Pauw

SCA

673,455

Total

3,741,155

Bermuda

(0.1%)

46,000

Alibaba

Health

Information

Technology,

Ltd.

a

127,332

23,500

Johnson

Electric

Holdings,

Ltd.

43,250

17,000

K

Wah

International

Holdings,

Ltd.

7,175

6,000

Kerry

Logistics

Network

Limited

9,835

36,000

Road

King

Infrastructure,

Ltd.

48,427

131,000

Shanghai

Industrial

Urban

Development

Group,

Ltd.

14,384

494,000

Yuexiu

Transport

Infrastructure,

Ltd.

313,857

Total

564,260

Brazil

(0.7%)

67,600

Ambev

SA

180,256

43,600

Atacadao

SA

186,551

18,300

B3

SA

-

Brasil

Bolsa

Balcao

223,674

103,900

Banco

ABC

Brasil

SA

279,441

55,105

Banco

Bradesco

SA

ADR

232,543

19,400

Banco

do

Brasil

SA

125,477

16,214

Banco

Santander

Brasil

SA

ADR

92,744

38,600

BR

Malls

Participacoes

SA

73,773

20,789

Companhia

Siderurgica

Nacional

SA

ADR

48,023

21,800

Cosan

SA

376,111

94,500

EDP

-

Energias

do

Brasil

SA

334,592

56,163

Gerdau

SA

ADR

187,585

60,900

Iochpe-Maxion

SA

151,417

77,112

Itau

Unibanco

Holding

SA

ADR

393,271

143,900

Itausa

SA

294,335

14,300

JBS

SA

59,403

136,900

Metalurgica

Gerdau

SA

209,947

33,100

Petrobras

Distribuidora

SA

144,670

97,290

Petroleo

Brasileiro

SA

415,341

17,634

Petroleo

Brasileiro

SA

ADR

152,887

10,200

Raia

Drogasil

SA

243,886

64,800

Randon

SA

Implementos

e

Participacoes

145,710

46,800

Rumo

SA

a

200,691

2,500

Suzano

SA

a

20,243

12,178

Telefonica

Brasil

SA

ADR

122,876

3,508

Tim

Participacoes

SA

ADR

52,410

17,100

Tupy

SA

a

58,874

18,335

Vale

SA

ADR

213,419

9,500

WEG

SA

123,090

Total

5,343,240

Canada

(6.4%)

30,989

Alaris

Royalty

Corporation

307,241

46,006

Allied

Properties

REIT

1,377,655

36,432

Bank

of

Montreal

1,993,159

67,939

Barrick

Gold

Corporation

1,963,432

17,634

Canadian

Natural

Resources,

Ltd.

311,091

91,219

CGI,

Inc.

a

6,515,302

338,242

CI

Financial

Corporation

4,648,949

63,082

Dollarama,

Inc.

2,306,735

99,798

Granite

REIT

5,804,072

99,216

Laurentian

Bank

of

Canada

1,966,617

177,890

Manulife

Financial

Corporation

2,383,908

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

90

Shares

Common

Stock

(93.3%)

Value

Canada

(6.4%)

-

continued

26,394

National

Bank

of

Canada

$

1,246,151

146,439

Northland

Power,

Inc.

4,012,327

38,305

Onex

Corporation

1,702,698

49,291

Peyto

Exploration

&

Development

Corporation

73,231

22,642

Power

Corporation

of

Canada

401,807

88,069

Quebecor,

Inc.

2,009,324

11,578

Restaurant

Brands

International,

Inc.

654,389

38,366

RioCan

REIT

428,501

666

Shopify

Inc.

a

681,984

62,584

Sun

Life

Financial,

Inc.

2,439,442

9,475

Suncor

Energy,

Inc.

149,045

5,226

TC

Energy

Corporation

238,193

14,165

TMX

Group,

Ltd.

1,447,961

152,140

Toronto-Dominion

Bank

6,732,120

Total

51,795,334

Cayman

Islands

(1.9%)

70,000

3SBio,

Inc.

a,b

85,185

7,010

Baidu.com,

Inc.

ADR

a

836,994

17,000

China

Mengniu

Dairy

Company,

Ltd.

79,772

190,000

China

Resources

Land,

Ltd.

791,903

78,000

Chinasoft

International,

Ltd.

59,494

140,000

Consun

Pharmaceutical

Group,

Ltd.

53,753

14,200

ENN

Energy

Holdings,

Ltd.

172,129

95,000

Fu

Shou

Yuan

International

Group,

Ltd.

90,110

113,000

Goodbaby

International

Holdings,

Ltd.

a

18,813

250,000

IGG,

Inc.

244,931

102,000

Kingboard

Holdings,

Ltd.

298,315

44,500

Li

Ning

Company,

Ltd.

143,433

37,500

Longfor

Group

Holdings,

Ltd.

b

185,327

41,800

Meituan

Dianping

a

1,034,404

2,054

NetEase,

Inc.

ADR

941,595

4,001

New

Oriental

Education

&

Technology

Group,

Inc.

ADR

a

560,940

3,793

Pinduoduo,

Inc.

ADR

a

348,197

49,000

Shimao

Property

Holdings,

Ltd.

207,923

1,158,000

Shui

On

Land,

Ltd.

171,920

169,000

SITC

International

Holdings

Company,

Ltd.

169,535

4,268

TAL

Education

Group

ADR

a

333,630

96,890

Tencent

Holdings,

Ltd.

6,646,481

13,643

Tencent

Music

Entertainment

Group

ADR

a

220,198

108,000

Tingyi

(Cayman

Islands)

Holding

Corporation

201,333

5,765

Trip.com

Group,

Ltd.

ADR

a

156,808

89,000

Value

Partners

Group,

Ltd.

44,844

27,000

Vinda

International

Holdings,

Ltd.

101,677

9,000

Wuxi

Biologics

(Cayman),

Inc.

a,b

185,795

122,000

Wynn

Macau,

Ltd.

213,966

46,000

Xiabuxiabu

Catering

Management

Holdings

Company,

Ltd.

b

46,168

129,200

Xiaomi

Corporation

a,b

247,684

58,000

Zhongsheng

Group

Holdings,

Ltd.

358,543

4,071

ZTO

Express,

Inc.

ADR

150,830

Total

15,402,630

Chile

(0.1%)

1,136

Banco

de

Chile

ADR

21,129

16,906

Banco

Santander

Chile

SA

ADR

289,262

Shares

Common

Stock

(93.3%)

Value

Chile

(0.1%)

-

continued

26,904

CAP

SA

a

$

202,567

1,816

Cia

Cervecerias

Unidas

SA

ADR

27,186

165,991

Colbun

SA

30,036

9,660

Embotelladora

Andina

SA

24,244

10,892

Empresas

CMPC

SA

24,128

3,652

Enel

Chile

SA

ADR

15,265

23,513

SMU

SA

4,193

Total

638,010

China

(2.7%)

551,000

Agricultural

Bank

of

China,

Ltd.

195,576

28,816

Alibaba

Group

Holding,

Ltd.

ADR

a

7,233,392

11,500

Anhui

Conch

Cement

Company,

Ltd.,

Class

A

101,221

77,500

Anhui

Conch

Cement

Company,

Ltd.,

Class

H

586,067

869,000

Bank

of

China,

Ltd.

289,385

858,000

Bank

of

Communications

Company,

Ltd.

476,264

44,400

Beijing

SL

Pharmaceutical

Company,

Ltd.

88,953

28,200

By-health

Company,

Ltd

101,144

245,000

China

Cinda

Asset

Management

Company,

Ltd.

46,204

444,000

China

Coal

Energy

Company,

Ltd.

110,038

1,162,000

China

Construction

Bank

Corporation

847,250

168,000

China

Everbright

Bank

Company,

Ltd.

63,137

28,500

China

Merchants

Bank

Company,

Ltd.

133,009

18,400

China

National

Accord

Medicines

Corporation,

Ltd.

131,275

224,000

China

National

Building

Material

Company,

Ltd.

347,869

82,000

China

Oilfield

Services,

Ltd.

63,980

5,928

China

Petroleum

&

Chemical

Corporation

ADR

251,999

97,400

China

Resources

Double-Crane

Pharmaceutical

Company,

Ltd.

202,834

43,287

China

Resources

Sanjiu

Medical

and

Pharmaceutical

Company,

Ltd.

188,046

1,166,000

China

Telecom

Corporation,

Ltd.

346,216

488,000

China

Tower

Corporation,

Ltd.

b

88,781

93,600

China

Vanke

Company,

Ltd.

295,067

152,099

China

Yangtze

Power

Company,

Ltd.

400,319

341,000

CNOOC,

Ltd.

359,926

46,200

GF

Securities

Company,

Ltd.

103,236

172,400

GF

Securities

Company,

Ltd.

206,888

15,900

Guangdong

Haid

Group

Company,

Limited

145,524

34,500

Henan

Shuanghui

Investment

&

Development

Company,

Ltd.

270,170

10,900

Huaan

Securities

Company,

Ltd.

12,625

44,574

Hualan

Biological

Engineering,

Inc.

414,960

882,000

Industrial

and

Commercial

Bank

of

China,

Ltd.

516,800

171,561

Inner

Mongolia

Eerduosi

Resources

Company,

Ltd.

242,092

16,440

JD.com,

Inc.

ADR

a

1,048,708

76,000

Jiangxi

Copper

Company,

Ltd.

90,838

3,102

Kweichow

Moutai

Company,

Ltd.

746,055

5,400

Laobaixing

Pharmacy

Chain

Joint

Stock

Company

80,516

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

91

Shares

Common

Stock

(93.3%)

Value

China

(2.7%)

-

continued

19,600

Livzon

Pharmaceutical

Group,

Inc.

$

153,098

14,964

Midea

Group

Company,

Ltd.

153,693

158,168

Ping

An

Insurance

Company

of

China,

Ltd.

1,668,867

335,000

Postal

Savings

Bank

of

China

Company,

Ltd.

b

184,565

20,488

S.

F.

Holding

Company,

Ltd.

207,722

17,000

Shandong

Gold

Mining

Company,

Ltd.

106,013

132,000

Shandong

Weigao

Group

Medical

Polymer

Company,

Ltd.

336,148

4,100

Shanghai

Haohai

Biological

Technology

Company,

Ltd.

b

30,134

60,200

Shanghai

Pharmaceuticals

Holding

Company,

Ltd.

107,031

94,800

Sinopharm

Group

Company,

Ltd.

225,935

189,000

Tong

Ren

Tang

Technologies

Company,

Ltd.

139,425

14,000

Tsingtao

Brewery

Company,

Ltd.

124,803

5,955

Tsingtao

Brewery

Company,

Ltd.

70,862

9,936

Vipshop

Holdings,

Ltd.

ADR

a

226,243

35,620

Winning

Health

Technology

Group

Company,

Ltd.

117,894

6,600

Wuliangye

Yibin

Company,

Ltd.

205,727

11,847

WuXi

AppTec

Company,

Ltd.

191,881

267,400

Xiamen

C&D,

Inc.

359,053

6,720

Zhejiang

Dingli

Machinery

Company,

Ltd.

85,518

159,200

Zoomlion

Heavy

Industry

Science

and

Technology

Company,

Ltd.

188,511

Total

21,709,487

Colombia

(<0.1%)

1,462

Bancolombia

SA

ADR

40,819

Total

40,819

Czech

Republic

(<0.1%)

3,796

CEZ

AS

76,472

48

Philip

Morris

CR

28,630

Total

105,102

Denmark

(2.1%)

2,086

ChemoMetec

AS

119,262

2,206

Christian

Hansen

Holding

AS

251,733

14,122

Coloplast

AS

2,410,587

19,135

DSV

AS

2,618,349

127,806

Novo

Nordisk

AS

8,385,683

25,082

Novozymes

AS

1,500,388

4,635

Per

Aarsleff

Holding

AS

177,507

256

Ringkjoebing

Landbobank

AS

19,036

509

Royal

Unibrew

AS

51,494

16,796

Scandinavian

Tobacco

Group

AS

b

247,041

3,059

SimCorp

AS

357,184

19,199

Topdanmark

AS

821,067

Total

16,959,331

Egypt

(<0.1%)

16,060

Commercial

International

Bank

Egypt

SAE

GDR

61,928

190,623

EFG

Hermes

Holding

Company

a

164,170

Total

226,098

Finland

(0.8%)

71,950

Kesko

Oyj

1,525,633

14,741

Raisio

Oyj

53,916

9,166

Rovio

Entertainment

Oyj

b

61,393

Shares

Common

Stock

(93.3%)

Value

Finland

(0.8%)

-

continued

108,886

UPM-Kymmene

Oyj

$

2,906,574

16,661

Uponor

Oyj

279,044

51,517

Valmet

Oyj

1,443,321

Total

6,269,881

France

(5.1%)

2,635

Albioma

SA

117,798

559

Alten

SA

a

43,828

117,270

CGG

SA

a

100,379

1,985

Cie

Generale

des

Etablissements

Michelin

205,579

41,063

CNP

Assurances

a

498,748

56,700

Coface

SA

a

449,686

25,052

Credit

Agricole

SA

a

241,145

36,974

Derichebourg

106,905

11,782

Elior

Participations

SCA

b

65,252

4,161

Hermes

International

3,373,497

303

Ipsos

SA

8,042

4,542

Jacquet

Metal

Service

57,360

7,184

Kaufman

&

Broad

SA

310,163

110,827

Legrand

SA

8,548,351

9,083

L'Oreal

SA

3,048,517

13,110

LVMH

Moet

Hennessy

Louis

Vuitton

SE

5,700,811

16,992

Metropole

Television

SA

a

205,212

5,418

Nexans

SA

a

282,386

10,177

Quadient

SAS

150,463

110,383

Rexel

SA

a

1,310,102

5,775

Sanofi

606,360

79,875

Schneider

Electric

SE

9,158,775

1,767

Societe

BIC

SA

104,682

1,375

Sopra

Group

SA

a

205,321

110,274

Total

SE

4,173,187

1,598

Vallourec

SA

a

53,256

25,576

Vinci

SA

2,201,206

Total

41,327,011

Germany

(5.3%)

2,823

Adidas

AG

a

778,521

3,361

ADVA

Optical

Networking

SE

a

28,013

43,932

Allianz

SE

9,114,784

58,932

Alstria

Office

REIT

AG

a

880,929

435

Amadeus

Fire

AG

a

50,268

14,824

Aurubis

AG

988,660

18,758

Bayer

AG

1,246,163

4,282

Bechtle

AG

833,376

14,607

Daimler

AG

638,679

36,873

Deutsche

Boerse

AG

6,708,835

146,411

Deutsche

Pfandbriefbank

AG

a,b

927,521

92,898

Deutsche

Telekom

AG

1,550,913

16,106

Deutz

AG

a

80,699

31,913

Dialog

Semiconductor

plc

a

1,495,925

14,690

Eckert

&

Ziegler

Strahlen-

und

Medizintechnik

AG

780,416

171

ELMOS

Semiconductor

AG

4,191

1,582

Evotec

SE

a

41,856

12,625

Freenet

AG

215,490

12,427

Gerresheimer

AG

1,429,593

14,220

Hamburger

Hafen

und

Logistik

AG

a

245,596

16,668

HelloFresh

SE

a

907,489

1,971

HORNBACH

Baumarkt

AG

72,439

681

HORNBACH

Holding

AG

&

Company

KGaA

65,539

3,749

Jenoptik

AG

93,949

13,863

Jungheinrich

AG

a

423,422

6,832

MorphoSys

AG

a

877,048

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

92

Shares

Common

Stock

(93.3%)

Value

Germany

(5.3%)

-

continued

988

New

Work

SE

$

322,378

17,645

SAP

SE

2,785,330

5,514

Siltronic

AG

503,043

11,843

Software

AG

552,440

494

STO

SE

&

Company

56,504

23,999

Symrise

AG

3,000,141

165,886

TAG

Immobilien

AG

4,361,879

25,001

Takkt

AG

a

307,895

1,569

zooplus

AG

a

269,839

Total

42,639,763

Greece

(0.1%)

556

Athens

Water

Supply

and

Sewerage

Company

SA

4,316

6,498

Hellenic

Telecommunications

Organization

SA

95,609

5,286

Motor

Oil

(Hellas)

Diilistiria

Korinthou

AE

72,199

40,540

Mytilineos

SA

378,951

1,263

Terna

Energy

SA

16,577

Total

567,652

Hong

Kong

(1.1%)

283,129

AIA

Group,

Ltd.

2,552,958

69,500

China

Mobile,

Ltd.

474,417

605,000

CITIC

Telecom

International

Holdings,

Ltd.

192,046

639,000

CITIC,

Ltd.

599,760

75,600

CSPC

Pharmaceutical

Group,

Ltd.

159,225

122,000

Far

East

Horizon,

Ltd.

100,650

312,000

Galaxy

Entertainment

Group,

Ltd.

2,127,759

159,778

Hang

Lung

Group,

Ltd.

386,663

21,100

Hong

Kong

Exchanges

&

Clearing,

Ltd.

1,004,638

72,000

Lonking

Holdings,

Ltd.

23,717

33,000

Luk

Fook

Holdings

International,

Ltd.

70,788

392,400

Man

Wah

Holdings,

Ltd.

445,677

32,000

Melco

International

Development,

Ltd.

60,410

124,000

Shanghai

Industrial

Holdings,

Ltd.

180,920

180,000

Shun

Tak

Holdings,

Ltd.

64,849

143,000

Sun

Hung

Kai

&

Company,

Ltd.

55,213

232,000

United

Laboratories

International

Holdings

216,535

1,250,000

Yuexiu

Property

Company,

Ltd.

229,173

Total

8,945,398

Hungary

(<0.1%)

2,104

Richter

Gedeon

Nyrt

48,681

Total

48,681

India

(1.0%)

12,458

Alembic

Pharmaceuticals,

Ltd.

164,434

27,084

Amara

Raja

Batteries,

Ltd.

255,935

404

APL

Apollo

Tubes,

Ltd.

9,938

5,096

Asian

Paints,

Ltd.

116,677

8,307

Bajaj

Auto,

Ltd.

333,232

56,542

Coal

India,

Ltd.

97,573

5,314

Divi's

Laboratories,

Ltd.

185,917

1,415

Dr.

Lal

PathLabs,

Ltd.

b

35,780

4,428

Dr.

Reddy's

Laboratories,

Ltd.

ADR

269,222

17,404

Glenmark

Pharmaceuticals,

Ltd.

105,270

22,297

Granules

India,

Ltd.

81,584

7,840

Greaves

Cotton,

Ltd.

a

8,499

92,371

HCL

Technologies,

Ltd.

868,454

Shares

Common

Stock

(93.3%)

Value

India

(1.0%)

-

continued

28,331

Heidelberg

Cement

India,

Ltd.

$

70,081

5,092

Hero

Motocorp,

Ltd.

181,373

12,308

Hindustan

Unilever,

Ltd.

363,077

8,699

Housing

Development

Finance

Corporation

206,884

35,137

Infosys,

Ltd.

ADR

451,511

11,363

InterGlobe

Aviation,

Ltd.

b

148,018

50,497

Jindal

Saw,

Ltd.

37,079

2,759

Maruti

Suzuki

India,

Ltd.

230,597

6,998

Mindtree,

Ltd.

101,068

4,554

Multi

Commodity

Exchange

of

India,

Ltd.

102,587

883

Nestle

India,

Ltd.

194,486

2,041

NIIT

Technologies,

Ltd.

52,451

174,832

Oil

and

Natural

Gas

Corporation,

Ltd.

182,810

5,288

Persistent

Systems,

Ltd.

64,856

10,581

Polycab

India,

Ltd.

115,865

340

PVR,

Ltd.

Rights

a,c

1,350

39,485

Reliance

Industries,

Ltd.

1,091,981

14,165

Syngene

International,

Ltd.

a,b

92,180

19,878

Tata

Consultancy

Services,

Ltd.

603,907

18,492

Tata

Elxsi,

Ltd.

231,930

57,053

Tech

Mahindra,

Ltd.

517,729

106,826

Wipro,

Ltd.

ADR

461,488

Total

8,035,823

Indonesia

(0.1%)

912,090

Astra

International

Tbk

PT

321,296

273,500

Industri

Jamu

Dan

Farmasi

Sido

Muncul

Tbk

PT

24,391

694,500

Media

Nusantara

Citra

Tbk

PT

a

39,059

990,600

Mitra

Adiperkasa

Tbk

PT

a

46,300

872,300

PT

PP

(Persero)

Tbk

58,473

10,905

Telekomunikasi

Indonesia

Persero

Tbk

PT

ADR

223,661

824,900

Wijaya

Karya

Persero

Tbk

PT

67,442

Total

780,622

Ireland

(0.1%)

41,400

C

&

C

Group

plc

125,150

58,927

Glanbia

plc

715,375

136,997

Greencore

Group

plc

228,497

Total

1,069,022

Israel

(1.0%)

175,505

Bank

Leumi

Le-Israel

BM

889,702

50,271

First

International

Bank

of

Israel,

Ltd.

1,156,783

1,502,106

Israel

Discount

Bank,

Ltd.

4,618,386

459

Paz

Oil

Company,

Ltd.

36,473

72,075

Plus500,

Ltd.

1,117,225

Total

7,818,569

Italy

(1.6%)

10,063

Amplifon

SPA

a

344,497

217,128

Anima

Holding

SPA

b

979,623

8,898

ASTM

SPA

a

189,157

71,840

Azimut

Holding

SPA

1,368,654

27,114

Banca

Generali

SPA

a

811,147

17,830

Banca

Popolare

Di

Sondrio

SCRL

a

39,822

3,725

Biesse

SPA

a

53,468

9,982

Buzzi

Unicem

SPA

227,108

200,021

Enel

SPA

1,832,303

61,573

Eni

SPA

548,482

12,999

Interpump

Group

SPA

427,445

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

93

Shares

Common

Stock

(93.3%)

Value

Italy

(1.6%)

-

continued

79,046

Intesa

Sanpaolo

SPA

a

$

161,123

40,225

Italgas

SPA

258,314

7,167

La

Doria

SPA

91,120

504,065

Piaggio

&

C.

SPA

1,413,530

74,271

Recordati

SPA

3,989,122

3,062

Reply

SPA

281,740

4,414

Tinexta

SPA

a

75,184

Total

13,091,839

Japan

(19.8%)

12,000

ABC-MART,

Inc.

632,227

48

Activia

Properties,

Inc.

157,962

9,400

Adeka

Corporation

124,849

2,400

Advantest

Corporation

131,038

6,700

Aica

Kogyo

Company,

Ltd.

215,233

24,400

Aichi

Corporation

178,157

36,300

Air

Water,

Inc.

470,652

25,500

Alps

Electric

Company,

Ltd.

321,455

9,600

AOKI

Holdings,

Inc.

49,400

5,500

Aozora

Bank,

Ltd.

87,983

1,500

Arata

Corporation

71,145

12,900

Arcland

Sakamoto

Company,

Ltd.

239,079

10,200

Arcs

Company,

Ltd.

236,659

2,200

Argo

Graphics,

Inc.

67,134

1,300

AS

ONE

Corporation

138,659

3,300

Asahi

Group

Holdings,

Ltd.

107,567

100

Asahi

Holdings,

Inc.

3,484

2,800

Asahi

Intecc

Company,

Ltd.

78,123

6,600

ASKUL

Corporation

199,987

68,300

Astellas

Pharmaceutical,

Inc.

1,065,341

10,700

Autobacs

Seven

Company,

Ltd.

124,668

3,300

Avex,

Inc.

26,459

3,500

Azbil

Corporation

116,675

4,600

BayCurrent

Consulting,

Inc.

557,200

1,100

Belc

Company,

Ltd.

79,242

27,700

Bridgestone

Corporation

815,919

21,400

Bunka

Shutter

Company,

Ltd.

140,685

3,700

Calbee,

Inc.

117,576

14,300

Canon

Electronics,

Inc.

198,285

2,600

Capcom

Company,

Ltd.

102,182

3,900

Cawachi,

Ltd.

117,237

10,400

Central

Glass

Company,

Ltd.

188,150

43,000

Chiyoda

Company,

Ltd.

410,930

2,800

Chiyoda

Integre

Company,

Ltd.

44,951

32,900

Chugai

Pharmaceutical

Company,

Ltd.

1,485,410

123,021

Citizen

Watch

Company,

Ltd.

335,314

5,700

Cocokara

Fine,

Inc.

310,188

2,500

Colopl,

Inc.

21,805

34,200

Computer

Engineering

&

Consulting,

Ltd.

491,290

2,200

CONEXIO

Corporation

26,712

3,500

Cosel

Company,

Ltd.

27,055

2,600

Create

SD

Holdings

Company,

Ltd.

93,340

1,000

Daiichi

Jitsugyo

Company,

Ltd.

33,347

21,600

Daiichi

Sankyo

Company,

Ltd.

1,911,310

6,100

Daiichikosho

Company,

Ltd.

164,393

9,400

Daikin

Industries,

Ltd.

1,653,897

10,577

Daito

Trust

Construction

Company,

Ltd.

829,472

42

Daiwa

Office

Investment

Corporation

220,191

91,800

DCM

Holdings

Company,

Ltd.

1,153,041

4,200

Demae-Can

Company,

Ltd.

62,588

99,100

Dena

Company,

Ltd.

1,117,933

11,000

Denka

Company,

Ltd.

264,538

Shares

Common

Stock

(93.3%)

Value

Japan

(19.8%)

-

continued

53,600

Denso

Corporation

$

1,982,803

21,700

Dexerials

Corporation

197,600

8,300

DIC

Corporation

199,820

300

DISCO

Corporation

72,701

5,200

Doshisha

Company,

Ltd.

82,251

11,300

Doutor

Nichires

Holdings

Company,

Ltd.

150,425

7,600

DOWA

Holdings

Company,

Ltd.

223,033

71,418

DTS

Corporation

1,366,630

2,500

Earth

Chemical

Company,

Ltd.

171,696

6,000

East

Japan

Railway

Company

345,868

10,700

Ebara

Corporation

254,179

26,500

EDION

Corporation

255,332

4,900

Eiken

Chemical

Company,

Ltd.

87,146

9,000

Eisai

Company,

Ltd.

726,359

2,200

Electric

Power

Development

Company,

Ltd.

30,012

281,500

Eneos

Holdings,

Inc.

987,111

18,000

EPS

Holdings,

Inc.

154,894

95,500

Exedy

Corporation

1,179,295

3,200

F.C.C.

Company,

Ltd.

49,520

34,700

F@N

Communications,

Inc.

139,115

400

FANUC

Corporation

67,489

2,200

Fast

Retailing

Company,

Ltd.

1,169,964

900

Financial

Products

Group

Company,

Ltd.

4,043

600

FP

Corporation

48,559

46,200

Fuji

Soft,

Inc.

2,084,341

1,800

Fujibo

Holdings,

Inc.

52,504

4,200

FUJIFILM

Holdings

NPV

187,835

4,800

Fujimi

Incorporated

167,688

1,600

Fujitsu,

Ltd.

214,232

120

Fukuoka

REIT

Corporation

139,276

2,800

Fuyo

General

Lease

Company,

Ltd.

158,497

30,000

Glory,

Ltd.

653,954

69

GLP

J-Reit

115,087

15,300

Goldcrest

Company,

Ltd.

189,250

4,500

Grace

Technology,

Inc.

234,888

61,000

Gree,

Inc.

251,462

88,340

GS

Yuasa

Corporation

1,373,678

13,700

H.U.

Group

Holdings,

Inc.

308,282

400

Hamakyorex

Company,

Ltd.

11,921

85

Hankyu

REIT,

Inc.

91,522

82,200

Hanwa

Company,

Ltd.

1,460,660

541

Heiwa

Real

Estate

REIT,

Inc.

560,636

6,200

Hitachi

Transport

System,

Ltd.

182,564

25,000

Hitachi,

Ltd.

748,851

15,200

Hogy

Medical

Company,

Ltd.

458,112

92,800

Hokuetsu

Corporation

310,729

66

Hoshino

Resorts

REIT,

Inc.

255,659

2,200

Hosiden

Corporation

18,839

14,200

Hoya

Corporation

1,400,397

551

Ichigo

Real

Estate

Investment

Corporation

359,527

4,300

Iida

Group

Holdings

Company,

Ltd.

66,555

3,100

Inaba

Denki

Sangyo

Company,

Ltd.

70,928

2,800

Inabata

&

Company,

Ltd.

30,877

16,500

INES

Corporation

220,949

1,000

Information

Services

International-

Dentsu,

Ltd.

52,514

1,600

Internet

Initiative

Japan

Inc.

56,799

221

Invesco

Office

J-Reit,

Inc.

26,073

1,069

Invincible

Investment

Corporation

244,129

4,700

I-PEX,

Inc.

83,837

18,500

Izumi

Company,

Ltd.

713,269

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

94

Shares

Common

Stock

(93.3%)

Value

Japan

(19.8%)

-

continued

14,000

Japan

Aviation

Electronics

Industry,

Ltd.

$

177,206

854

Japan

Hotel

REIT

Investment

Corporation

309,779

26,300

Japan

Lifeline

Company,

Ltd.

326,006

10,900

Japan

Material

Company,

Ltd.

165,947

124,100

Japan

Post

Bank

Company,

Ltd.

925,831

97,900

Japan

Post

Holdings

Company,

Ltd.

668,637

8

Japan

Prime

Realty

Investment

Corporation

21,025

10

Japan

Real

Estate

Investment

Corporation

51,024

54,600

Japan

Tobacco,

Inc.

933,248

3,200

Justsystems

Corporation

248,394

173,900

JVCKENWOOD

Corporation

219,915

4,100

Kaga

Electronics

Company,

Ltd.

77,645

1,400

Kaken

Pharmaceutical

Company,

Ltd.

63,625

5,900

Kamigumi

Company,

Ltd.

107,679

299,556

Kandenko

Company,

Ltd.

2,347,928

4,600

Kaneka

Corporation

108,702

3,900

Kanematsu

Electronics,

Ltd.

149,698

18,271

Kao

Corporation

1,325,452

46,400

KDDI

Corporation

1,475,401

444

Kenedix

Retail

REIT

Corporation

771,176

6,300

Kewpie

Corporation

112,138

7,500

Keyence

Corporation

3,162,653

82,700

Kinden

Corporation

1,281,942

3,200

Kissei

Pharmaceutical

Company,

Ltd.

66,895

16,000

KITZ

Corporation

101,148

3,500

KLab,

Inc.

a

21,043

2,600

Kobayashi

Pharmaceutical

Company,

Ltd.

231,078

900

Kobe

Bussan

Company,

Ltd.

55,857

29,500

Kohnan

Shoji

Company,

Ltd.

1,100,814

39,700

Kokuyo

Company,

Ltd.

417,940

3,100

KOMEDA

Holdings

Company,

Ltd.

48,704

37,200

KOMERI

Company,

Ltd.

1,170,913

79,500

Konica

Minolta

Holdings,

Inc.

210,585

29,500

Konoike

Transport

Company,

Ltd.

283,659

83,600

K's

Holdings

Corporation

1,073,250

2,100

Kurabo

Industries,

Ltd.

39,145

7,500

Kureha

Corporation

309,414

1,300

Kusuri

No

Aoki

Holdings

Company,

Ltd.

121,007

3,500

Kyocera

Corporation

194,916

9,000

Kyokuto

Kaihatsu

Kogyo

Company,

Ltd.

113,692

29,800

KYORIN

Holdings,

Inc.

541,353

1,000

Lasertec

Corporation

88,295

30,300

Lintec

Corporation

706,956

18,500

M3,

Inc.

950,023

22,600

Macnica

Fuji

Electronics

Holdings,

Inc.

340,723

1,900

Mandom

Corporation

27,540

26,900

Marubeni

Corporation

123,845

3,514

Maruichi

Steel

Tube,

Ltd.

83,210

5,200

Matsui

Securities

Company,

Ltd.

42,570

14,500

Matsumotokiyoshi

Holdings

Company,

Ltd.

484,392

500

Max

Company,

Ltd.

7,531

5,700

Maxell

Holdings,

Ltd.

48,978

15,200

MCJ

Company,

Ltd.

131,275

Shares

Common

Stock

(93.3%)

Value

Japan

(19.8%)

-

continued

329

MCUBS

MidCity

Investment

Corporation

$

214,374

12,900

MegaChips

Corporation

248,748

7,100

MEGMILK

SNOW

BRAND

Company,

Ltd.

160,882

11,400

Meiko

Network

Japan

Company,

Ltd.

75,414

767

MIRAI

Corporation

239,391

24,900

MIRAIT

Holdings

Corporation

343,038

196,000

Mitsubishi

Corporation

3,949,360

34,000

Mitsubishi

Electric

Corporation

443,838

5,000

Mitsubishi

Estate

Company,

Ltd.

71,826

7,200

Mitsubishi

Materials

Corporation

147,200

3,000

Mitsubishi

Pencil

Company,

Ltd.

32,340

3,100

Mitsubishi

Research

Institute,

Inc.

124,313

6,400

Mitsubishi

Shokuhin

Company,

Ltd.

158,980

466,300

Mitsubishi

UFJ

Financial

Group,

Inc.

1,747,375

236,800

Mitsui

&

Company,

Ltd.

3,540,184

16,000

Mitsui

Fudosan

Company,

Ltd.

250,144

4,200

Mitsui

Sugar

Company,

Ltd.

76,321

512,900

Mizuho

Financial

Group,

Inc.

625,250

138

Mori

Trust

Sogo

REIT,

Inc.

161,078

15,100

MS

and

AD

Insurance

Group

Holdings,

Inc.

379,433

21,400

Murata

Manufacturing

Company,

Ltd.

1,374,537

11,100

Nagase

&

Company,

Ltd.

127,953

51,300

NEC

Networks

&

System

Integration

Corporation

1,089,814

27,500

Nichi-Iko

Pharmaceutical

Company,

Ltd.

312,231

18,900

Nichirei

Corporation

539,667

16,600

Nidec

Corporation

1,318,655

9,700

Nihon

Chouzai

Company,

Ltd.

144,743

33,500

Nihon

Unisys,

Ltd.

1,013,744

21,600

Nikkon

Holdings

Company,

Ltd.

393,637

4,200

Nintendo

Company,

Ltd.

1,847,203

21

Nippon

Building

Fund,

Inc.

117,408

11,700

Nippon

Electric

Glass

Company,

Ltd.

191,369

15,300

Nippon

Flour

Mills

Company,

Ltd.

241,169

1,300

Nippon

Gas

Company,

Ltd.

61,022

22,600

Nippon

Kayaku

Company,

Ltd.

221,700

1,477,356

Nippon

Light

Metal

Holdings

Company,

Ltd.

2,434,261

11,100

Nippon

Parking

Development

Company,

Ltd.

12,776

94

Nippon

REIT

Investment

Corporation

284,203

39,100

Nippon

Steel

Corporation

320,595

29,400

Nippon

Steel

Trading

Corporation

876,594

26,900

Nippon

Telegraph

&

Telephone

Corporation

624,388

4,200

Nipro

Corporation

44,970

76,278

Nissan

Motor

Company,

Ltd.

260,914

17,000

Nisshin

Oillio

Group,

Ltd.

515,177

800

Nitta

Corporation

16,955

2,200

Nitto

Kogyo

Corporation

35,790

6,500

Noevir

Holdings

Company,

Ltd.

268,986

5,200

Nojima

Corporation

130,372

165

Nomura

Real

Estate

Master

Fund,

Inc.

204,627

2,200

Noritake

Company,

Ltd.

66,157

22,000

NS

Solutions

Corporation

579,350

59,500

NSD

Company,

Ltd.

1,081,997

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

95

Shares

Common

Stock

(93.3%)

Value

Japan

(19.8%)

-

continued

60,600

NTT

DOCOMO,

Inc.

$

1,668,386

4,000

OBIC

Business

Consultants

Company,

Ltd.

235,398

3,100

OBIC

Company,

Ltd.

555,921

4,600

Oisix

ra

daichi,

Inc.

a

93,074

6,438

Okinawa

Electric

Power

Company,

Inc.

100,376

6,500

Okuwa

Company,

Ltd.

90,615

41,900

Olympus

Corporation

753,633

25

One

REIT,

Inc.

57,153

168,900

Onward

Holdings

Company,

Ltd.

414,793

10,300

Oracle

Corporation

Japan

1,240,763

1,400

Organo

Corporation

70,689

7,400

Oriental

Land

Company,

Ltd.

892,756

13,400

ORIX

Corporation

144,923

26,300

Otsuka

Corporation

1,371,263

1,500

Otsuka

Holdings

Company,

Ltd.

62,210

5,500

Paramount

Bed

Holdings

Company,

Ltd.

234,482

30,698

Park24

Company,

Ltd.

408,985

2,600

Pasona

Group,

Inc.

30,564

582

Premier

Investment

Corporation

654,204

11,700

Prima

Meat

Packers,

Ltd.

312,570

400

Proto

Corporation

3,948

3,300

Qol

Holdings

Company,

Ltd.

32,197

3,500

RAKUS

Company,

Ltd.

80,812

47,516

Recruit

Holdings

Company,

Ltd.

1,482,302

3,800

Restar

Holdings

Corporation

67,574

1,600

Ricoh

Leasing

Company,

Ltd.

40,482

24,200

Rinnai

Corporation

1,983,523

102,400

Riso

Kyoiku

Corporation,

Ltd.

293,155

10,100

ROHTO

Pharmaceutical

Company,

Ltd.

311,751

2,300

Ryosan

Company,

Ltd.

43,728

11,200

Saint

Marc

Holdings

Company,

Ltd.

154,698

28,700

Samty

Corporation,

Ltd.

311,913

7,400

Sangetsu

Company,

Ltd.

101,219

16,900

Sanki

Engineering

Company,

Ltd.

185,662

13,700

Sankyo

Company,

Ltd.

342,712

6,800

Sankyu

Inc.

234,458

5,400

Sanwa

Holdings

Corporation

46,278

30,800

Sanyo

Special

Steel

Company,

Ltd.

221,856

14,800

Sato

Holdings

Corporation

307,344

29,900

Sawai

Pharmaceutical

Company,

Ltd.

1,420,401

4,900

SBS

Holdings,

Inc.

104,295

7,800

SCREEN

Holdings

Company,

Ltd.

392,037

24,000

Seiko

Holdings

Corporation

328,525

50,800

Seino

Holdings

Company,

Ltd.

625,235

40,500

Senko

Group

Holdings

Company,

Ltd.

302,840

400

Seria

Company,

Ltd.

16,004

35,700

Seven

&

I

Holdings

Company,

Ltd.

1,078,837

16,200

Shimachu

Company,

Ltd.

440,840

4,300

SHIMAMURA

Company,

Ltd.

299,016

13,300

Shin-Etsu

Chemical

Company,

Ltd.

1,556,616

3,300

ShinMaywa

Industries,

Ltd.

28,878

1,400

Shionogi

&

Company,

Ltd.

83,287

6,800

Ship

Healthcare

Holdings,

Inc.

292,756

14,491

Shiseido

Company,

Ltd.

807,383

72,800

SKY

Perfect

JSAT

Holdings,

Inc.

267,894

2,100

SMC

Corporation

1,103,654

155,500

SoftBank

Corporation

2,081,555

47,000

SoftBank

Group

Corporation

2,964,435

431,900

Sojitz

Corporation

905,984

48,900

Sony

Corporation

3,799,288

Shares

Common

Stock

(93.3%)

Value

Japan

(19.8%)

-

continued

328

Star

Asia

Investment

Corporation

REIT

$

131,363

2,900

Strike

Company,

Ltd.

127,347

20,100

Sugi

Holdings

Company,

Ltd.

1,452,340

209,400

Sumitomo

Chemical

Company,

Ltd.

604,248

90,300

Sumitomo

Corporation

1,003,208

248,500

Sumitomo

Electric

Industries,

Ltd.

2,776,397

8,700

Sumitomo

Forestry

Company,

Ltd.

97,270

16,100

Sumitomo

Mitsui

Financial

Group,

Inc.

429,008

4,000

Sumitomo

Osaka

Cement

Company,

Ltd.

134,557

117,500

Sumitomo

Rubber

Industries,

Ltd.

977,530

23,400

Sumitomo

Warehouse

Company,

Ltd.

264,312

57,576

Sundrug

Company,

Ltd.

1,959,365

12,900

Taiho

Kogyo

Company,

Ltd.

61,081

800

Taiyo

Holdings

Company,

Ltd.

37,794

75,100

Takara

Leben

Company,

Ltd.

237,527

7,800

Takasago

Thermal

Engineering

Company,

Ltd.

103,613

95,800

Takeda

Pharmaceutical

Company,

Ltd.

3,474,360

15,800

Tamura

Corporation

63,200

22,100

TANSEISHA

Company,

Ltd.

122,795

23,400

Terumo

Corporation

885,247

2,700

T-GAIA

Corporation

48,521

13,500

TIS,

Inc.

289,110

16,800

Toho

Holdings

Company,

Ltd.

287,685

34,000

Tokio

Marine

Holdings,

Inc.

1,435,649

3,100

Tokuyama

Corporation

72,608

6,000

Tokyo

Electron,

Ltd.

1,660,304

5,900

Tokyo

Ohka

Kogyo

Company,

Ltd.

312,109

5,200

Tokyo

Seimitsu

Company,

Ltd.

166,172

9,000

TOMY

Company,

Ltd.

67,527

10,300

Topre

Corporation

99,226

159,600

Toray

Industries,

Inc.

690,839

35,100

Tosei

Corporation

271,722

4,200

Toshiba

Machine

Company,

Ltd.

78,693

9,800

Tosho

Company,

Ltd.

96,226

18,900

Towa

Pharmaceutical

Company,

Ltd.

339,959

30,700

Toyo

Seikan

Group

Holdings,

Ltd.

336,271

12,600

Toyo

Tanso

Company,

Ltd.

190,029

44,900

Toyota

Motor

Corporation

2,665,442

10,200

Transcosmos,

Inc.

246,850

34,200

Tsubakimoto

Chain

Company

802,713

152,500

TV

Asahi

Holdings

Corporation

2,085,438

51,500

Ube

Industries,

Ltd.

841,105

14,800

Unicharm

Corporation

669,446

83

United

Urban

Investment

Corporation

80,715

16,300

Universal

Entertainment

Corporation

a

286,967

16,400

Ushio,

Inc.

192,850

26,300

USS

Company,

Ltd.

389,922

8,900

Valor

Company,

Ltd.

193,248

20,400

Wakita

&

Company,

Ltd.

173,697

16,900

Yellow

Hat,

Ltd.

221,820

12,800

Zenkoku

Hosho

Company,

Ltd.

447,366

7,700

Zenrin

Company,

Ltd.

75,573

Total

160,527,032

Jersey

(0.2%)

209,925

boohoo

group

plc

a

710,259

14,140

IWG

plc

42,509

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

96

Shares

Common

Stock

(93.3%)

Value

Jersey

(0.2%)

-

continued

619,090

Man

Group

plc

$

998,795

2,863

Polymetal

International

plc

71,643

5,732

Sanne

Group

PLC

47,264

Total

1,870,470

Luxembourg

(0.4%)

3,032

APERAM

86,365

77,106

Arcelor

Mittal

a

853,704

430,461

B&M

European

Value

Retail

SA

2,588,059

956

Play

Communications

SA

b

8,243

Total

3,536,371

Malaysia

(0.2%)

5,700

AEON

Credit

Service

(M)

Berhad

12,385

73,600

Berjaya

Sports

Toto

Berhad

36,525

8,000

Bursa

Malaysia

Berhad

17,537

128,500

CIMB

Group

Holdings

Berhad

109,047

27,800

Hartalega

Holdings

Berhad

133,582

14,800

Kuala

Lumpur

Kepong

Berhad

81,435

132,100

PETRONAS

Chemicals

Group

Berhad

193,295

28,300

PETRONAS

Gas

Berhad

112,543

84,000

Public

Bank

Berhad

337,158

751,509

Sapura

Energy

Berhad

a

17,070

265,600

Serba

Dinamik

Holdings

Berhad

102,480

4,200

TIME

dotCom

Berhad

10,816

20,500

Top

Glove

Corporation

BHD

125,569

50,300

Yinson

Holdings

Berhad

74,539

Total

1,363,981

Mexico

(0.2%)

9,366

America

Movil

SAB

de

CV

ADR

118,386

12,800

Becle,

SAB

de

CV

26,152

148,856

Corporacion

Inmobiliaria

Vesta,

SAB

de

CV

223,869

3,880

Fomento

Economico

Mexicano

SAB

de

CV

ADR

238,659

3,745

Gruma,

SAB

de

CV

43,903

3,400

Grupo

Bimbo

SAB

de

CV

6,148

96,730

Grupo

Financiero

Banorte

SAB

de

CV

ADR

a

346,455

11,055

Industrias

Penoles,

SAB

de

CV

164,884

205,000

Wal-Mart

de

Mexico,

SAB

de

CV

482,494

Total

1,650,950

Netherlands

(4.7%)

89,248

Aalberts

NV

3,187,252

44,282

ABN

AMRO

Group

NV

b

367,798

26,571

ASM

International

NV

4,064,533

21,875

ASML

Holding

NV

7,777,409

52,279

BE

Semiconductor

Industries

NV

2,337,491

234

Corbion

NV

8,982

39,194

Euronext

NV

b

4,527,614

3,650

Ferrari

NV

652,675

1,607

IMCD

NV

166,176

16,223

Koninklijke

DSM

NV

2,483,195

105,706

Koninklijke

Philips

NV

a

5,461,937

10,266

NN

Group

NV

375,758

2,086

NSI

NV

74,263

2,086

NSI

NV

Rights

a,c

0

80,728

Signify

NV

a,b

2,422,110

59,903

STMicroelectronics

NV

1,683,108

7,311

TKH

Group

NV

288,334

3,939

TomTom

NV

a

31,541

Shares

Common

Stock

(93.3%)

Value

Netherlands

(4.7%)

-

continued

40,092

Unilever

NV

$

2,369,055

Total

38,279,231

New

Zealand

(<0.1%)

197,203

Z

Energy,

Ltd.

368,924

Total

368,924

Norway

(1.7%)

3,149

Adevinta

ASA

a

50,407

10,726

Atea

ASA

124,541

39,802

Austevoll

Seafood

ASA

336,424

2,906

Borregaard

ASA

38,764

334,643

DnB

ASA

a

5,139,898

186,216

Elkem

ASA

b

356,839

216,624

Entra

ASA

b

3,058,061

142,646

Europris

ASA

b

701,271

3,001

Fjordkraft

Holding

ASA

b

26,699

27,604

Grieg

Seafood

ASA

279,356

155,329

Leroy

Seafood

Group

ASA

900,515

18,852

Nordic

Semiconductor

ASA

a

186,963

22,359

Orkla

ASA

219,919

19,189

SalMar

ASA

a

912,649

21,492

Scatec

Solar

ASA

b

374,621

15,570

SpareBank

1

SMN

134,148

3,944

SpareBank

1

SR

Bank

ASA

31,280

13,545

Tomra

Systems

ASA

a

557,687

17,219

Veidekke

ASA

a

234,206

Total

13,664,248

Panama

(<0.1%)

17,880

Avianca

Holdings

SA

ADR

d

5,561

Total

5,561

Peru

(<0.1%)

17,266

Cia

de

Minas

Buenaventura

SA

ADR

204,775

Total

204,775

Philippines

(<0.1%)

45,716

Bank

of

the

Philippine

Islands

63,486

2,350

Globe

Telecom,

Inc.

98,622

29,990

Jollibee

Foods

Corporation

82,493

17,570

Manila

Electric

Company

94,857

90,500

Puregold

Price

Club,

Inc.

88,344

Total

427,802

Poland

(0.2%)

26,701

Asseco

Poland

SA

457,195

1,693

CD

Projekt

SA

a

181,658

4,012

Cyfrowy

Polsat

SA

a

29,810

1,220

Dino

Polska

SA

a,b

67,541

23,324

Jastrzebska

Spolka

Weglowa

SA

103,097

14,320

KGHM

Polska

Miedz

SA

a

482,095

54,688

PGE

Polska

Grupa

Energetyczna

SA

a

96,214

22,669

Polski

Koncern

Naftowy

Orlen

SA

322,777

2,943

Santander

Bank

Polska

SA

a

118,048

104

TEN

Square

Games

SA

15,223

Total

1,873,658

Portugal

(<0.1%)

36,734

CTT-Correios

de

Portugal

SA

a

98,441

Total

98,441

Russian

Federation

(0.5%)

56,930

Aeroflot

PJSC

a

63,497

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

97

Shares

Common

Stock

(93.3%)

Value

Russian

Federation

(0.5%)

-

continued

38,911

Gazprom

PJSC

ADR

$

188,101

8,261

Lukoil

ADR

560,388

35,350

M.Video

PJSC

205,185

554

Magnit

OJSC

GDR

8,208

140,330

Moscow

Exchange

MICEX-RTS

PJSC

252,337

1,389

Novatek

PJSC

GDR

202,374

235

PAO

Transneft

a

427,416

76,513

Rosneft

Oil

Company

PJSC

GDR

362,928

415,850

Sberbank

of

Russia

PJSC

a

1,245,174

777,700

Surgutneftegas

PJSC

392,490

72,013

Surgutneftegas

PJSC

ADR

356,497

Total

4,264,595

Singapore

(0.9%)

396,364

AEM

Holdings,

Ltd.

1,058,533

126,700

Ascendas

REIT

327,959

71,100

China

Aviation

Oil

(Singapore)

Corporation,

Ltd.

49,810

2,061

China

Yuchai

International,

Ltd.

27,247

234,100

DBS

Group

Holdings,

Ltd.

3,381,728

391,200

Frasers

Logistics

and

Commercial

Trust

387,262

193,300

Keppel

DC

REIT

420,110

224,700

Mapletree

Industrial

Trust

a

537,223

48,700

Parkway

Life

REIT

a

126,375

162,100

Sheng

Siong

Group,

Ltd.

200,950

96,700

Singapore

Exchange,

Ltd.

576,847

102,800

Singapore

Post,

Ltd.

53,402

183,100

Yanlord

Land

Group,

Ltd.

163,216

Total

7,310,662

South

Africa

(0.5%)

60,110

AECI,

Ltd.

303,737

1,440

Anglo

American

Platinum,

Ltd.

110,539

7,523

AngloGold

Ashanti,

Ltd.

ADR

242,165

74,061

Barloworld,

Ltd.

285,665

3,071

Clicks

Group,

Ltd.

40,983

78,161

DataTec,

Ltd.

a

102,652

28,435

Emira

Property

Fund,

Ltd.

a

10,687

6,497

Impala

Platinum

Holdings,

Ltd.

57,999

82,894

Investec,

Ltd.

162,272

3,226

Kumba

Iron

Ore,

Ltd.

104,322

137,024

Momentum

Metropolitan

Holdings

132,585

16,296

Motus

Holdings,

Ltd.

26,970

8,891

Naspers,

Ltd.

1,617,729

62,524

Ninety

One,

Ltd.

a

181,808

3,504

Sasol,

Ltd.

a

28,325

49,995

Sibanye

Stillwater,

Ltd.

a

141,425

6,394

Spar

Group,

Ltd.

61,600

1,244

Tiger

Brands,

Ltd.

12,832

17,609

Vodacom

Group

132,301

Total

3,756,596

South

Korea

(1.3%)

1,467

Binggrae

Company,

Ltd.

75,014

824

Celltrion,

Inc.

a

205,415

11,492

Cheil

Worldwide,

Inc.

185,493

383

Chong

Kun

Dang

Pharmaceutical

Corporation

43,488

2,255

DB

HiTek

Company,

Ltd.

65,146

16,078

Dongkuk

Steel

Mill

Corporation,

Ltd.

a

82,128

7,087

Doosan

Heavy

Construction

Corporation,

Ltd.

a

62,506

1,783

Hana

Tour

Service,

Inc.

56,595

Shares

Common

Stock

(93.3%)

Value

South

Korea

(1.3%)

-

continued

785

Hancom,

Inc.

a

$

11,174

2,334

Handsome

Corporation

59,477

734

Hansol

Chemical

Company,

Ltd.

93,405

4,780

Hanwha

Corporation

102,087

11,674

Hanwha

Investment

&

Securities

Corporation,

Ltd.

a

17,325

52,595

Hanwha

Life

Insurance

Corporation,

Ltd.

64,799

687

Hugel,

Inc.

a

90,673

525

Hyundai

Motor

Company

55,997

4,035

Hyundai

Steel

Company

84,273

16,961

JB

Financial

Group

Corporation,

Ltd.

65,568

1,899

Kakao

Corporation

550,929

1,802

KEPCO

Plant

Service

&

Engineering

Company,

Ltd.

44,539

12,244

Kia

Motors

Corporation

416,742

1,355

Korea

Zinc

Company,

Ltd.

471,171

819

LG

Chem,

Ltd.

392,170

2,850

LG

Electronics,

Inc.

169,474

244

LG

Household

&

Health

Care,

Ltd.

281,412

6,507

LG

International

Corporation

82,711

1,948

LS

Electric

Company,

Ltd.

87,846

2,045

NAVER

Corporation

519,536

742

NCSoft

Corporation

505,596

591

OptoElectronics

Solutions

Company,

Ltd.

29,890

2,724

POSCO

439,570

6,795

Samsung

Card

Corporation,

Ltd.

161,381

75,345

Samsung

Electronics

Company,

Ltd.

3,682,400

662

Samsung

SDI

Company,

Ltd.

221,625

10,578

Samsung

Securities

Corporation,

Ltd.

257,531

2,169

SeAH

Besteel

Corporation

19,963

2,169

Seojin

System

Company,

Ltd.

69,354

525

SK

Holdings

Company,

Ltd

97,858

7,713

SK

Hynix,

Inc.

540,036

603

Soulbrain

Holdings

Company,

Ltd.

c

51,310

207

Taekwang

Industrial

Corporation,

Ltd.

118,565

768

Taeyoung

Engineering

&

Construction

10,345

Total

10,642,517

Spain

(1.5%)

23,314

Amadeus

IT

Holding

SA

1,164,194

65,997

Applus

Services

SA

a

511,556

29,527

Banco

Bilbao

Vizcaya

Argentaria

SA

91,939

252,648

Banco

Santander

SA

541,798

82,632

CIA

De

Distribucion

Integral

1,542,832

109,429

Enagas

SA

2,760,828

51,107

Faes

Farma

SA

215,095

13,127

Global

Dominion

Access

SA

b

42,966

56,765

Grifols

SA

1,653,879

60,256

Iberdrola

SA

778,828

60,256

Iberdrola

SA

a,c

17,701

26,430

Industria

de

Diseno

Textil

SA

700,341

4,443

Let's

GOWEX

SA

a,c,d

1

356,051

Mediaset

Espana

Comunicacion

SA

a

1,164,644

385

Pharma

Mar

SA

40,853

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

98

Shares

Common

Stock

(93.3%)

Value

Spain

(1.5%)

-

continued

42,885

Solaria

Energia

y

Medio

Ambiente

SA

a

$

650,399

Total

11,877,854

Supranational

(0.1%)

13,663

Unibail-Rodamco-Westfield

716,689

Total

716,689

Sweden

(3.5%)

164,436

AB

Industrivarden

a

4,056,222

5,531

AF

Poyry

AB

a

141,980

80,941

Arjo

AB

499,641

137,928

Assa

Abloy

AB

3,044,925

12,008

Axfood

AB

270,219

92,908

Betsson

AB

700,533

1,158

Bilia

AB

a

11,205

28,826

Biotage

AB

a

522,987

910

Bravida

Holding

AB

a,b

9,977

9,424

Bure

Equity

AB

258,537

81,147

Castellum

AB

1,745,191

8,129

Clas

Ohlson

AB

91,488

311,816

Cloetta

AB

a

862,122

38,004

Dios

Fastigheter

AB

256,886

27,431

Dustin

Group

AB

b

166,638

18,891

Essity

Aktiebolag

a

623,298

11,715

Evolution

Gaming

Group

AB

b

794,990

6,845

Fortnox

AB

201,523

71,710

Getinge

AB

1,732,126

38,398

Granges

AB

a

310,154

287,478

Hexpol

AB

a

1,912,761

51,435

Holmen

AB

1,772,667

64,231

Husqvarna

AB

614,690

40,312

Inwido

AB

a

377,711

294,741

Kungsleden

AB

2,383,949

5,747

L

E

Lundbergforetagen

AB

a

269,956

6,021

LeoVegas

AB

b

27,995

5,013

Lifco

AB

383,013

34,520

Lindab

International

AB

539,495

1,111

Loomis

AB

a

26,547

6,213

Lundin

Energy

AB

144,922

4,504

NCC

AB

78,223

32,894

Nobia

AB

a

195,161

43,690

Nobina

AB

a,b

275,188

10,814

Nolato

AB

a

899,054

6,135

Paradox

Interactive

AB

153,799

101,539

SKF

AB

1,879,775

48,546

Svenska

Handelsbanken

AB

a

457,812

2,222

Thule

Group

AB

b

66,096

3,662

Wihlborgs

Fastigheter

AB

61,712

Total

28,821,168

Switzerland

(10.6%)

2,415

Allreal

Holding

AG

480,478

3,653

ALSO

Holding

AG

963,762

1,356

Bachem

Holding

AG

408,183

29,950

Baloise

Holding

AG

4,569,618

15

Belimo

Holding

AG

119,163

772

Bucher

Industries

AG

254,273

1,402

Dufry

AG

a

35,799

3,598

EMS-CHEMIE

Holding

AG

3,107,126

63,882

Ferrexpo

plc

147,820

17

Forbo

Holding

AG

26,514

24,415

Galenica

AG

b

1,807,636

6,784

Geberit

AG

3,744,204

842

Givaudan

SA

3,487,330

Shares

Common

Stock

(93.3%)

Value

Switzerland

(10.6%)

-

continued

30,150

Glencore

Xstrata

plc

$

69,000

55

Gurit

Holding

AG

98,141

9,182

Huber

&

Suhner

AG

714,812

243

Implenia

AG

10,688

96

Inficon

Holding

AG

79,075

189

Interroll

Holding

AG

447,011

161

Lindt

&

Spruengli

AG

1,246,436

40,887

Logitech

International

SA

2,982,641

115,844

Nestle

SA

13,776,373

102,576

Novartis

AG

8,448,907

49,958

PSP

Swiss

Property

AG

5,549,781

38,316

Roche

Holding

AG

13,270,998

3,632

Roche

Holding

AG-BR

1,251,892

2,016

Schindler

Holding

AG,

Participation

Certificate

512,438

7

Schweiter

Technologies

AG

8,680

1,409

Siegfried

Holding

AG

736,202

17,715

Sika

AG

3,892,554

12,038

Sonova

Holding

AG

a

2,721,842

834

Straumann

Holding

AG

826,161

9,630

Swiss

Life

Holding

AG

3,519,203

3,235

Swiss

Prime

Site

AG

295,237

1,642

Swissquote

Group

Holding

SA

153,607

11,597

Tecan

Group

AG

4,863,715

231

Valiant

Holding

AG

21,524

6,743

VAT

Group

AG

b

1,285,819

Total

85,934,643

Taiwan

(1.7%)

28,000

Accton

Technology

Corporation

219,352

77,000

Capital

Securities

Corporation

31,268

31,000

Cheng

Loong

Corporation

24,564

1,937,000

China

Development

Financial

Holding

Corporation

571,316

209,805

China

Man-Made

Fiber

Corporation

44,344

49,000

Chipbond

Technology

Corporation

100,036

576,000

CTBC

Financial

Holding

Company,

Ltd.

381,452

47,000

Delta

Electronics,

Inc.

321,267

6,000

Elite

Semiconductor

Microelectronics

Technology,

Inc.

8,197

53,000

Far

Eastern

Department

Stores,

Ltd.

42,606

20,000

Feng

Hsin

Iron

&

Steel

Company,

Ltd.

36,000

568,000

Fubon

Financial

Holding

Company,

Ltd.

808,938

320,000

Hon

Hai

Precision

Industry

Company,

Ltd.

855,241

19,000

Huaku

Development

Company,

Ltd.

55,122

266,980

IBF

Financial

Holdings

Company,

Ltd.

103,455

23,000

Makalot

Industrial

Company,

Ltd.

141,852

30,000

MediaTek,

Inc.

716,342

28,000

Namchow

Holdings

Company,

Ltd.

40,123

16,000

Novatek

Microelectronics

Corporation

158,606

63,000

Powertech

Technology,

Inc.

210,462

37,000

President

Chain

Store

Corporation

a

353,429

118,000

SerComm

Corporation

318,339

5,000

Shin

Zu

Shing

Company,

Ltd.

26,311

207

Shin

Zu

Shing

Company,

Ltd.

Rights

a,c

297

370,000

Shinkong

Synthetic

Fibers

Corporation

140,828

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

99

Shares

Common

Stock

(93.3%)

Value

Taiwan

(1.7%)

-

continued

105,758

Sigurd

Microelectronics

Corporation

$

157,370

12,000

Sinbon

Electronics

Company,

Ltd.

71,335

18,000

Sitronix

Technology

Corporation

92,374

60,000

Syncmold

Enterprise

Corporation

162,546

124,000

Synnex

Technology

International

Corporation

185,220

57,000

Systex

Corporation

157,701

325,000

Taichung

Commercial

Bank

Company,

Ltd.

129,804

28,000

Taiwan

Hon

Chuan

Enterprise

Company,

Ltd.

51,140

392,620

Taiwan

Semiconductor

Manufacturing

Company,

Ltd.

5,714,036

14,000

Taiwan

Surface

Mounting

Technology

Corporation

64,398

95,000

TECO

Electric

&

Machinery

Company,

Ltd.

88,300

67,000

Topco

Scientific

Company,

Ltd.

265,433

54,000

Transcend

Information,

Inc.

121,406

139,000

TXC

Corporation

356,747

258,000

Uni-President

Enterprises

Corporation

629,689

15,000

United

Integrated

Services

Company,

Ltd.

105,263

92,000

Wistron

Corporation

107,796

Total

14,170,305

Thailand

(0.2%)

45,700

Advanced

Info

Service

Public

Company,

Ltd.

NVDR

271,283

100,800

Airports

of

Thailand

Public

Company,

Ltd.

NVDR

166,994

246,300

Bangkok

Dusit

Medical

Services

Public

Company,

Ltd.

NVDR

175,097

35,500

Com7

Public

Company,

Ltd.

NVDR

43,575

219,300

CP

ALL

Public

Company,

Ltd.

NVDR

480,131

9,600

Hana

Microelectronics

Public

Company,

Ltd.

NVDR

11,184

112,400

Intouch

Holdings

Public

Company,

Ltd.

NVDR

205,039

18,200

Kasikornbank

pcl

NVDR

47,426

226,400

Major

Cineplex

Group

Public

Company,

Ltd.

NVDR

104,008

32,400

PTT

Exploration

and

Production

Public

Company,

Ltd.

NVDR

94,960

24,100

Siam

Commercial

Bank

Public

Company,

Ltd.

NVDR

51,953

192,400

Thai

Vegetable

Oil

Public

Company,

Ltd.

NVDR

180,742

Total

1,832,392

Turkey

(0.1%)

22,882

BIM

Birlesik

Magazalar

AS

233,611

223,903

Haci

Omer

Sabanci

Holding

AS

268,312

59,607

Koza

Anadolu

Metal

Madencilik

Isletmeleri

AS

a

121,843

6,135

Migros

Ticaret

AS

a

39,518

61,352

TAV

Havalimanlari

Holding

AS

146,311

33,894

Turk

Hava

Yollari

Anonim

Ortakligi

a

51,512

5,728

Vestel

Elektronik

Sanayi

ve

Ticaret

AS

a

14,378

Total

875,485

Shares

Common

Stock

(93.3%)

Value

United

Kingdom

(8.8%)

7,516

Abcam

plc

$

126,424

47,423

Assura

plc

48,895

9,308

AstraZeneca

plc

1,028,348

187,472

Auto

Trader

Group

plc

b

1,309,592

93,322

Aviva

plc

320,940

20,785

Barratt

Developments

plc

138,068

24,410

Bellway

plc

808,340

31,165

BHP

Group

plc

673,896

42,334

Bodycote

plc

308,881

46,340

BP

plc

167,821

34,334

Brewin

Dolphin

Holdings

plc

117,507

68,309

British

American

Tobacco

plc

2,257,504

22,837

Bunzl

plc

654,191

2,897

Burford

Capital,

Ltd.

20,320

33,000

Carnival

plc

356,916

302,897

Cineworld

Group

plc

152,275

18,424

Computacenter

plc

475,909

93,708

ConvaTec

Group

plc

b

249,045

43,701

Croda

International

plc

3,261,604

5,015

Dechra

Pharmaceuticals

plc

186,625

2,960

Derwent

London

plc

111,363

21,359

Diageo

plc

781,542

15,696

Diploma

plc

371,638

559,306

Direct

Line

Insurance

Group

plc

2,164,345

16,132

Dunelm

Group

plc

258,851

6,667

Games

Workshop

Group

plc

765,235

892

GB

Group

plc

a

7,732

378,250

GlaxoSmithKline

plc

7,534,878

37,219

Greggs

plc

578,811

137,012

Halma

plc

3,891,675

58,084

HomeServe

plc

1,005,548

14,893

Howden

Joinery

Group

plc

95,039

729,234

HSBC

Holdings

plc

3,283,621

142,294

IG

Group

Holdings

plc

1,359,996

12,124

IMI

plc

164,728

53,894

Inchcape

plc

301,919

7,984

ITM

Power

plc

a

25,035

159,488

John

Wood

Group

plc

396,448

75,156

Jupiter

Fund

Management

plc

222,289

840

Kainos

Group

plc

12,081

13,469

KAZ

Minerals

plc

93,911

1,070,456

Lloyds

TSB

Group

plc

364,716

45,440

Marshalls

plc

352,350

69,045

Meggitt

plc

241,238

88,347

Micro

Focus

International

plc

318,057

886,860

Moneysupermarket.com

Group

plc

3,397,597

3,897

Morgan

Sindall

Group

plc

52,977

606,489

National

Express

Group

plc

1,206,748

12,009

Ninety

One

plc

a

33,809

23,257

PageGroup

plc

106,484

137,304

Paragon

Banking

Group

plc

562,884

485

Pennon

Group

plc

6,702

37,531

Phoenix

Group

Holdings

plc

322,291

9,871

PZ

Cussons

plc

24,512

7,739

Reckitt

Benckiser

Group

plc

775,989

128,843

Redrow

plc

719,338

188,609

RELX

plc

3,970,640

38,550

Rio

Tinto

plc

2,346,631

40,412

Rotork

plc

146,564

236,641

Royal

Dutch

Shell

plc,

Class

A

3,458,654

262,249

Royal

Dutch

Shell

plc,

Class

B

3,681,058

24,385

RWS

Holdings

plc

191,029

62,042

Safestore

Holdings

plc

623,663

380,755

Sage

Group

plc

3,613,328

44,596

Smith

&

Nephew

plc

880,215

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

100

Shares

Common

Stock

(93.3%)

Value

United

Kingdom

(8.8%)

-

continued

11,814

Spectris

plc

$

396,583

7,629

Spirax-Sarco

Engineering

plc

1,019,504

131,292

Spirent

Communications

plc

480,698

121,811

Tate

&

Lyle

plc

1,036,780

469,939

Taylor

Wimpey

plc

724,896

171,847

Tullow

Oil

plc

57,465

66,802

Unilever

plc

3,977,736

34,807

UNITE

Group

plc

427,200

19,496

Vistry

Group

plc

156,747

Total

71,764,869

United

States

(0.1%)

12,042

Yum

China

Holding,

Inc.

617,032

Total

617,032

Total

Common

Stock

(cost

$717,870,922)

757,073,641

Shares

Preferred

Stock

(

<0.1%

)

South

Korea

(0.1%)

22,444

Samsung

Electronics

Company,

Ltd.

937,436

Total

937,436

Total

Preferred

Stock

(cost

$228,514)

937,436

Principal

Amount

Long-Term

Fixed

Income

(

<0.1%

)

Venezuela

(<0.1%)

Petroleos

de

Venezuela

SA

$

5,360,000

6.000%, 

10/28/2022

e

120,600

3,250,000

6.000%, 

5/16/2024

e

81,250

637,000

6.000%, 

11/15/2026

e

15,925

680,000

5.375%, 

4/12/2027

e

17,000

70,000

5.500%, 

4/12/2037

e

1,750

Total

236,525

Total

Long-Term

Fixed

Income

(cost

$3,822,422)

236,525

Shares

or

Principal

Amount

Short-Term

Investments

(

6.4%

)

Federal

Home

Loan

Bank

Discount

Notes

2,700,000

0.180%,

 8/4/2020

f,g

2,699,995

1,300,000

0.125%,

 8/11/2020

f,g

1,299,980

500,000

0.125%,

 8/12/2020

f,g

499,991

1,400,000

0.142%,

 8/19/2020

f,g

1,399,957

200,000

0.120%,

 8/25/2020

f,g

199,991

1,400,000

0.151%,

 9/2/2020

f,g

1,399,895

2,600,000

0.120%,

 9/15/2020

f,g

2,599,721

1,600,000

0.090%,

 9/16/2020

f,g

1,599,824

400,000

0.090%,

 9/21/2020

f,g

399,951

3,900,000

0.088%,

 9/25/2020

f,g

3,899,483

Thrivent

Core

Short-Term

Reserve

Fund

3,560,182

0.500%

35,637,422

Total

Short-Term

Investments

(cost

$51,545,975)

51,636,210

Total

Investments

(cost

$773,467,833)

99.8%

$809,883,812

Other

Assets

and

Liabilities,

Net

0.2%

1,500,034

Total

Net

Assets

100.0%

$811,383,846

a

Non-income

producing

security.

b

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$21,952,311

or

2.7%

of

total

net

assets.

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

In

bankruptcy.  Interest

is

being

accrued

per

the

bankruptcy

agreement

terms.  

e

Defaulted

security.  Interest

is

not

being

accrued.

f

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

g

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

NVDR

-

Non-Voting

Depository

Receipts

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

101

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

International

Allocation

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

35,910,350

1,362,575

34,546,424

1,351

Consumer

Discretionary

89,286,348

11,330,169

77,956,179

–

Consumer

Staples

57,875,962

313,868

57,562,094

–

Energy

23,112,694

404,886

22,707,808

–

Financials

127,088,043

1,069,768

126,018,275

–

Health

Care

101,111,907

269,222

100,842,685

–

Industrials

105,380,427

32,808

105,347,322

297

Information

Technology

93,823,856

2,551,843

91,272,013

–

Materials

66,826,929

847,944

65,927,675

51,310

Real

Estate^

44,399,280

–

44,399,280

0

Utilities

12,257,845

–

12,240,144

17,701

Preferred

Stock

Information

Technology

937,436

–

937,436

–

Long-Term

Fixed

Income

Energy

236,525

–

236,525

–

Short-Term

Investments

15,998,788

–

15,998,788

–

Subtotal

Investments

in

Securities

$774,246,390

$18,183,083

$755,992,648

$70,659

Other

Investments  *

Total

Affiliated

Short-Term

Investments

35,637,422

Subtotal

Other

Investments

$35,637,422

Total

Investments

at

Value

$809,883,812

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.

^

Level

3

security

in

this

section

is

fair

valued

at

<$1.  

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

2,401,875

2,401,875

–

–

Total

Asset

Derivatives

$2,401,875

$2,401,875

$–

$–

Liability

Derivatives

Futures

Contracts

2,912,143

2,912,143

–

–

Total

Liability

Derivatives

$2,912,143

$2,912,143

$–

$–

International

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

102

Reference

Description:

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

FTSE

-

Financial

Times

Stock

Exchange

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

TSE

-

Tokyo

Stock

Exchange

The

following

table

presents

International

Allocation

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$16,030,749

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CME

Euro

Foreign

Exchange

Currency

312

September

2020

$

44,379,253

$

1,638,797

Eurex

Euro

STOXX

50

Index

1,186

September

2020

44,551,654

(

293,023)

FTSE

100

Index

1

September

2020

78,827

(

2,047)

ICE

mini

MSCI

EAFE

Index

363

September

2020

32,153,762

763,078

TSE

Tokyo

Price

Index

1

September

2020

153,108

(

11,736)

Total

Futures

Long

Contracts

$

121,316,604

$

2,095,069

ICE

US

mini

MSCI

Emerging

Markets

Index

(667)

September

2020

(

$

33,055,818)

(

$

2,605,337)

Total

Futures

Short

Contracts

(

$

33,055,818)

($2,605,337)

Total

Futures

Contracts

$

88,260,786

($510,268)

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

International

Allocation

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$125,089

$193,898

$283,394

$35,637

3,560

4.4%

Total

Affiliated

Short-Term

Investments

125,089

35,637

4.4

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

743

743

–

–

–

Total

Collateral

Held

for

Securities

Loaned

–

–

–

Total

Value

$125,089

$35,637

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(46)

$90

$1

$1,090

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$1,090

Cash

Management

Trust-

Collateral

Investment  

–

–

–

0

Total

Affiliated

Income

from

Securities

Loaned,

Net

$0

Total

$(46)

$90

$1

Large

Cap

Growth

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

103

Shares

Common

Stock

(

97.6%

)

Value

Communications

Services

(13.0%)

279,382

Activision

Blizzard,

Inc.

$

23,085,335

63,503

Alphabet,

Inc.,

Class

A

a

94,489,289

146,949

Facebook,

Inc.

a

37,276,553

389,675

Live

Nation

Entertainment,

Inc.

a

18,240,687

653,737

Uber

Technologies,

Inc.

a

19,782,081

Total

192,873,945

Consumer

Discretionary

(20.2%)

63,993

Amazon.com,

Inc.

a

202,517,367

216,757

Aptiv

plc

16,852,857

12,751

Chipotle

Mexican

Grill,

Inc.

a

14,729,445

159,473

Home

Depot,

Inc.

42,338,487

230,342

NIKE,

Inc.

22,483,683

Total

298,921,839

Consumer

Staples

(0.9%)

209,285

BJ's

Wholesale

Club

Holdings,

Inc.

a

8,381,864

70,722

Lamb

Weston

Holdings,

Inc.

4,248,978

Total

12,630,842

Financials

(3.9%)

210,071

American

Express

Company

19,603,826

462,874

Charles

Schwab

Corporation

15,344,273

64,317

S&P

Global,

Inc.

22,527,029

Total

57,475,128

Health

Care

(13.2%)

52,405

Amgen,

Inc.

12,821,931

142,319

Cerner

Corporation

9,884,055

245,865

Edwards

Lifesciences

Corporation

a

19,278,275

42,557

Humana,

Inc.

16,701,495

40,367

Intuitive

Surgical,

Inc.

a

27,669,156

163,845

Novo

Nordisk

AS

ADR

10,703,994

66,677

Stryker

Corporation

12,888,664

60,774

Thermo

Fisher

Scientific,

Inc.

25,157,397

46,002

Veeva

Systems,

Inc.

a

12,170,749

70,734

Vertex

Pharmaceuticals,

Inc.

a

19,239,648

193,262

Zoetis,

Inc.

29,313,980

Total

195,829,344

Industrials

(3.2%)

120,092

Honeywell

International,

Inc.

17,938,142

40,753

Lockheed

Martin

Corporation

15,444,165

73,120

Norfolk

Southern

Corporation

14,054,395

Total

47,436,702

Information

Technology

(40.8%)

69,342

Adobe,

Inc.

a

30,810,037

303,838

Apple,

Inc.

129,143,304

108,806

CDW

Corporation

12,648,698

84,054

Intuit,

Inc.

25,751,624

181,987

MasterCard,

Inc.

56,148,449

608,682

Microsoft

Corporation

124,785,897

102,520

NVIDIA

Corporation

43,528,967

153,064

PayPal

Holdings,

Inc.

a

30,011,258

51,971

Salesforce.com,

Inc.

a

10,126,549

85,354

ServiceNow

,

Inc.

a

37,487,477

196,898

Square,

Inc.

a

25,567,205

96,520

Texas

Instruments,

Inc.

12,311,126

351,136

Visa,

Inc.

66,856,294

Total

605,176,885

Shares

Common

Stock

(97.6%)

Value

Materials

(1.0%)

80,828

Ecolab,

Inc.

$

15,121,302

Total

15,121,302

Real

Estate

(1.4%)

78,759

American

Tower

Corporation

20,586,815

Total

20,586,815

Total

Common

Stock

(cost

$779,419,050)

1,446,052,802

Shares

Short-Term

Investments

(

2.5%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

3,727,980

0.500%

37,317,076

Total

Short-Term

Investments

(cost

$37,275,034)

37,317,076

Total

Investments

(cost

$816,694,084)

100.1%

$1,483,369,878

Other

Assets

and

Liabilities,

Net

(0.1%)

(1,661,231)

Total

Net

Assets

100.0%

$1,481,708,647

a

Non-income

producing

security.

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

Large

Cap

Growth

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

104

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Large

Cap

Growth

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

192,873,945

192,873,945

–

–

Consumer

Discretionary

298,921,839

298,921,839

–

–

Consumer

Staples

12,630,842

12,630,842

–

–

Financials

57,475,128

57,475,128

–

–

Health

Care

195,829,344

195,829,344

–

–

Industrials

47,436,702

47,436,702

–

–

Information

Technology

605,176,885

605,176,885

–

–

Materials

15,121,302

15,121,302

–

–

Real

Estate

20,586,815

20,586,815

–

–

Subtotal

Investments

in

Securities

$1,446,052,802

$1,446,052,802

$–

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

37,317,076

Subtotal

Other

Investments

$37,317,076

Total

Investments

at

Value

$1,483,369,878

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Large

Cap

Growth

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$20,205

$168,218

$151,120

$37,317

3,728

2.5%

Total

Affiliated

Short-Term

Investments

20,205

37,317

2.5

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

2,432

32,745

35,177

–

–

–

Total

Collateral

Held

for

Securities

Loaned

2,432

–

–

Total

Value

$22,637

$37,317

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(28)

$42

$0

$253

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$253

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

5

Total

Affiliated

Income

from

Securities

Loaned,

Net

$5

Total

$(28)

$42

$0

Large

Cap

Value

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

105

Shares

Common

Stock

(

98.1%

)

Value

Communications

Services

(8.7%)

10,200

Alphabet,

Inc.,

Class

C

a

$

15,126,192

701,520

Comcast

Corporation

30,025,056

292,880

Discovery,

Inc.,

Class

A

a,b

6,179,768

744,029

Verizon

Communications,

Inc.

42,766,787

Total

94,097,803

Consumer

Discretionary

(7.4%)

123,738

Aptiv

plc

9,620,630

7,501

AutoZone,

Inc.

a

9,056,857

184,901

D.R.

Horton,

Inc.

12,233,050

211,364

Lowe's

Companies,

Inc.

31,474,213

38,950

Mohawk

Industries,

Inc.

a

3,110,158

183,720

Sony

Corporation

ADR

14,322,811

Total

79,817,719

Consumer

Staples

(4.1%)

58,160

Kimberly-Clark

Corporation

8,842,647

276,793

Wal-Mart

Stores,

Inc.

35,817,014

Total

44,659,661

Energy

(6.1%)

460,632

BP

plc

ADR

10,152,329

144,597

Chevron

Corporation

12,137,472

124,920

ConocoPhillips

4,670,759

322,073

Enterprise

Products

Partners,

LP

5,668,485

102,700

Exxon

Mobil

Corporation

4,321,616

313,150

Halliburton

Company

4,487,439

794,425

Marathon

Oil

Corporation

4,361,393

278,710

Marathon

Petroleum

Corporation

10,646,722

98,591

Pioneer

Natural

Resources

Company

9,555,440

Total

66,001,655

Financials

(20.4%)

254,290

Aflac,

Inc.

9,045,095

191,870

American

International

Group,

Inc.

6,166,702

1,354,676

Bank

of

America

Corporation

33,704,339

267,992

Capital

One

Financial

Corporation

17,097,890

106,467

Chubb,

Ltd.

13,546,861

632,810

Citigroup,

Inc.

31,646,828

90,790

Comerica,

Inc.

3,497,231

24,680

Goldman

Sachs

Group,

Inc.

4,885,653

239,182

Hartford

Financial

Services

Group,

Inc.

10,122,182

98,700

J.P.

Morgan

Chase

&

Company

9,538,368

119,470

Julius

Baer

Group,

Ltd.

5,244,723

469,764

KeyCorp

5,641,866

221,270

MetLife,

Inc.

8,375,070

354,950

Morgan

Stanley

17,349,956

143,290

Raymond

James

Financial,

Inc.

9,955,789

287,630

Truist

Financial

Corporation

10,774,620

684,840

Wells

Fargo

&

Company

16,614,218

203,401

Zions

Bancorporations

NA

6,604,430

Total

219,811,821

Health

Care

(17.2%)

32,270

Anthem,

Inc.

8,835,526

12,431

Becton,

Dickinson

and

Company

3,497,338

39,779

Biogen,

Inc.

a

10,926,894

248,770

Centene

Corporation

a

16,232,243

90,486

Cigna

Holding

Company

15,626,027

204,331

CVS

Health

Corporation

12,860,593

61,593

Gilead

Sciences,

Inc.

4,282,561

232,052

GlaxoSmithKline

plc

ADR

9,356,337

87,410

HCA

Healthcare,

Inc.

11,069,602

216,670

Johnson

&

Johnson

31,581,819

Shares

Common

Stock

(98.1%)

Value

Health

Care

(17.2%)

-

continued

257,813

Medtronic

plc

$

24,873,798

379,502

Merck

&

Company,

Inc.

30,451,240

39,122

Zimmer

Biomet

Holdings,

Inc.

5,275,993

Total

184,869,971

Industrials

(11.2%)

25,230

Boeing

Company

3,986,340

46,380

Carlisle

Companies,

Inc.

5,522,930

459,940

Carrier

Global

Corporation

12,528,765

106,920

CSX

Corporation

7,627,673

303,110

Delta

Air

Lines,

Inc.

7,568,657

91,420

General

Dynamics

Corporation

13,414,971

14,010

Honeywell

International,

Inc.

2,092,674

83,379

Ingersoll

-

Rand,

Inc.

a

2,633,943

442,090

Johnson

Controls

International

plc

17,011,623

62,510

Kansas

City

Southern

10,742,343

103,820

Otis

Worldwide

Corporation

6,513,667

68,050

Parker-Hannifin

Corporation

12,175,506

207,640

Raytheon

Technologies

Corporation

11,769,035

43,170

United

Rentals,

Inc.

a

6,707,323

Total

120,295,450

Information

Technology

(13.9%)

33,600

Apple,

Inc.

14,281,344

854,850

Cisco

Systems,

Inc.

40,263,435

179,191

Microsoft

Corporation

36,735,947

140,090

Oracle

Corporation

7,767,990

113,300

QUALCOMM,

Inc.

11,965,613

12,534

Samsung

Electronics

Company,

Ltd.

GDR

15,199,904

135,082

Texas

Instruments,

Inc.

17,229,709

44,100

VMware,

Inc.

a,b

6,183,261

Total

149,627,203

Materials

(3.6%)

323,140

Axalta

Coating

Systems,

Ltd.

a

7,173,708

333,750

CF

Industries

Holdings,

Inc.

10,456,387

188,626

Eastman

Chemical

Company

14,077,158

178,370

Nucor

Corporation

7,482,622

Total

39,189,875

Real

Estate

(2.1%)

188,182

American

Campus

Communities,

Inc.

6,706,807

45,969

AvalonBay

Communities,

Inc.

7,038,773

118,588

CBRE

Group,

Inc.

a

5,195,340

339,710

Host

Hotels

&

Resorts,

Inc.

3,662,074

Total

22,602,994

Utilities

(3.4%)

140,820

Duke

Energy

Corporation

11,933,087

71,710

Entergy

Corporation

7,538,872

177,453

Exelon

Corporation

6,851,461

181,677

FirstEnergy

Corporation

5,268,633

18,589

NextEra

Energy,

Inc.

5,217,932

Total

36,809,985

Total

Common

Stock

(cost

$876,469,492)

1,057,784,137

Large

Cap

Value

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

106

Shares

Collateral

Held

for

Securities

Loaned

(

1.2%

)

Value

13,013,420

Thrivent

Cash

Management

Trust

$

13,013,420

Total

Collateral

Held

for

Securities

Loaned

(cost

$13,013,420)

13,013,420

Shares

Registered

Investment

Companies

(

0.1%

)

Value

Unaffiliated  (<0.1%)

17,840

Utilities

Select

Sector

SPDR

Fund

b

1,085,207

Total

1,085,207

Total

Registered

Investment

Companies

(cost

$1,082,824)

1,085,207

Shares

Short-Term

Investments

(

1.8%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

1,915,644

0.500%

19,175,598

Total

Short-Term

Investments

(cost

$19,138,203)

19,175,598

Total

Investments

(cost

$909,703,939)

101.2%

$1,091,058,362

Other

Assets

and

Liabilities,

Net

(1.2%)

(13,372,070)

Total

Net

Assets

100.0%

$1,077,686,292

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Large

Cap

Value

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Common

Stock

$

12,758,825

Total

lending

$12,758,825

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$13,013,420

Net

amounts

due

to

counterparty

$254,595

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Large

Cap

Value

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

94,097,803

94,097,803

–

–

Consumer

Discretionary

79,817,719

79,817,719

–

–

Consumer

Staples

44,659,661

44,659,661

–

–

Energy

66,001,655

66,001,655

–

–

Financials

219,811,821

214,567,098

5,244,723

–

Health

Care

184,869,971

184,869,971

–

–

Industrials

120,295,450

120,295,450

–

–

Information

Technology

149,627,203

134,427,299

15,199,904

–

Materials

39,189,875

39,189,875

–

–

Real

Estate

22,602,994

22,602,994

–

–

Utilities

36,809,985

36,809,985

–

–

Registered

Investment

Companies

Unaffiliated

1,085,207

1,085,207

–

–

Subtotal

Investments

in

Securities

$1,058,869,344

$1,038,424,717

$20,444,627

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

19,175,598

Collateral

Held

for

Securities

Loaned

13,013,420

Subtotal

Other

Investments

$32,189,018

Total

Investments

at

Value

$1,091,058,362

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Large

Cap

Value

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

107

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Large

Cap

Value

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$38,341

$78,206

$97,385

$19,176

1,916

1.8%

Total

Affiliated

Short-Term

Investments

38,341

19,176

1.8

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

76,091

63,078

13,013

13,013

1.2

Total

Collateral

Held

for

Securities

Loaned

–

13,013

1.2

Total

Value

$38,341

$32,189

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(23)

$37

$0

$328

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$328

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

11

Total

Affiliated

Income

from

Securities

Loaned,

Net

$11

Total

$(23)

$37

$0

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

108

Principal

Amount

Long-Term

Fixed

Income

(

95.2%

)

Value

Asset-Backed

Securities

(13.5%)

Ares

XXXVII

CLO,

Ltd.

$

4,000,000

1.445%, 

(LIBOR

3M

+

1.170%),

10/15/2030,

Ser.

2015-4A,

Class

A1R

a,b

$

3,936,068

Arkansas

Student

Loan

Authority

4,321,892

1.260%, 

(LIBOR

3M

+

0.900%),

11/25/2043

b

4,270,721

Assurant

CLO

III,

Ltd.

4,700,000

1.502%, 

(LIBOR

3M

+

1.230%),

10/20/2031,

Ser.

2018-2A,

Class

A

a,b

4,590,485

Axis

Equipment

Finance

Receivables

Trust

1,883,414

2.630%, 

6/20/2024,

Ser.

2019-1A,

Class

A2

a

1,916,109

Bank

of

the

West

Auto

Trust

853,819

2.110%, 

1/15/2023,

Ser.

2017-1,

Class

A3

a

859,837

BCC

Funding

XIV,

LLC

568,048

2.960%, 

6/20/2023,

Ser.

2018-1A,

Class

A2

a

570,459

Benefit

Street

Partners

CLO

IV,

Ltd.

5,400,000

1.522%, 

(LIBOR

3M

+

1.250%),

1/20/2029,

Ser.

2014-IVA,

Class

A1RR

a,b

5,365,683

BlueMountain

CLO,

Ltd.

2,955,119

1.502%, 

(LIBOR

3M

+

1.230%),

1/20/2029,

Ser.

2013-1A,

Class

A1R2

a,b

2,934,106

3,522,000

1.272%, 

(LIBOR

3M

+

1.000%),

4/20/2031,

Ser.

2015-3A,

Class

A1R

a,b

3,420,436

Business

Jet

Securities,

LLC

845,496

4.335%, 

2/15/2033,

Ser.

2018-1,

Class

A

a

847,335

CBAM,

Ltd.

5,000,000

1.555%, 

(LIBOR

3M

+

1.280%),

2/12/2030,

Ser.

2019-9A,

Class

A

a,b

4,951,495

CCG

Receivables

Trust

610,132

2.500%, 

6/16/2025,

Ser.

2018-1,

Class

A2

a

612,911

Commonbond

Student

Loan

Trust

91,946

3.200%, 

6/25/2032,

Ser.

2015-A,

Class

A

a

92,000

660,444

2.550%, 

5/25/2041,

Ser.

2017-AGS,

Class

A1

a

676,264

1,838,491

0.672%, 

(LIBOR

1M

+

0.500%),

2/25/2044,

Ser.

2018-AGS,

Class

A2

a,b

1,811,444

Conn

Funding

II,

LP

139,177

3.250%, 

1/15/2023,

Ser.

2018-A,

Class

A

a

138,550

CoreVest

American

Finance

Trust

1,985,578

3.804%, 

6/15/2051,

Ser.

2018-1,

Class

A

a

2,046,193

Credit

Acceptance

Auto

Loan

Trust

2,200,948

3.470%, 

5/17/2027,

Ser.

2018-2A,

Class

A

a

2,225,815

Deephaven

Residential

Mortgage

Trust

1,544,976

4.080%, 

10/25/2058,

Ser.

2018-4A,

Class

A1

a,b

1,558,815

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Asset-Backed

Securities

(13.5%)

-

continued

DRB

Prime

Student

Loan

Trust

$

440,047

2.072%, 

(LIBOR

1M

+

1.900%),

10/27/2031,

Ser.

2015-B,

Class

A1

a,b

$

442,128

Earnest

Student

Loan

Program,

LLC

844,565

2.650%, 

1/25/2041,

Ser.

2017-A,

Class

A2

a

855,984

Education

Funding

Trust

4,587,909

2.790%, 

7/25/2041,

Ser.

2020-A,

Class

A

a

4,638,317

Fifth

Third

Auto

Trust

189,565

1.800%, 

2/15/2022,

Ser.

2017-1,

Class

A3

189,987

FREED

ABS

Trust

443,945

3.420%, 

6/18/2026,

Ser.

2019-1,

Class

A

a

444,610

Freedom

ABS

Trust

2,340,832

2.520%, 

3/18/2027,

Ser.

2020-FP1,

Class

A

a

2,338,239

Garrison

BSL

CLO,

Ltd.

6,000,000

1.243%, 

(LIBOR

3M

+

0.970%),

7/17/2028,

Ser.

2018-1A,

Class

A1

a,b

5,928,894

Genesis

Private

Label

Amortizing

Trust

5,000,000

2.080%, 

7/20/2030,

Ser.

2020-1,

Class

A

a

5,000,363

GoldenTree

Loan

Opportunities,

Ltd.

3,000,000

1.570%, 

(LIBOR

3M

+

1.300%),

10/29/2029,

Ser.

2014-9A,

Class

AJR2

a,b

2,929,014

Golub

Capital

Partners,

Ltd.

6,000,000

1.422%, 

(LIBOR

3M

+

1.150%),

10/20/2028,

Ser.

2018-39A,

Class

A1

a,b

5,929,350

Home

Partners

of

America

Trust

1,989,594

0.998%, 

(LIBOR

1M

+

0.817%),

7/17/2034,

Ser.

2017-1,

Class

A

a,b

1,974,013

HSI

Asset

Securitization

Corporation

Trust

1,001,217

0.542%, 

(LIBOR

1M

+

0.370%),

1/25/2036,

Ser.

2006-OPT2,

Class

M1

b

1,002,395

Invitation

Homes

Trust

4,204,939

1.281%, 

(LIBOR

1M

+

1.100%),

1/17/2038,

Ser.

2018-SFR4,

Class

A

a,b

4,193,722

Marlette

Funding

Trust

1,525,892

3.440%, 

4/16/2029,

Ser.

2019-1A,

Class

A

a

1,540,826

National

Collegiate

Trust

1,301,077

0.467%, 

(LIBOR

1M

+

0.295%),

5/25/2031,

Ser.

2007-A,

Class

A

a,b

1,256,069

Nationstar

HECM

Loan

Trust

2,628,855

2.272%, 

11/25/2029,

Ser.

2019-2A,

Class

A

a,b

2,632,749

Navient

Private

Education

Loan

Trust

1,252,263

2.820%, 

2/15/2068,

Ser.

2019-CA,

Class

A1

a

1,259,844

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

109

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Asset-Backed

Securities

(13.5%)

-

continued

Navient

Student

Loan

Trust

$

1,319,846

2.180%, 

8/15/2068,

Ser.

2019-FA,

Class

A1

a

$

1,326,554

2,328,235

0.772%, 

(LIBOR

1M

+

0.600%),

7/26/2066,

Ser.

2017-3A,

Class

A2

a,b

2,312,513

1,619,042

0.922%, 

(LIBOR

1M

+

0.750%),

7/26/2066,

Ser.

2017-1A,

Class

A2

a,b

1,617,813

Neuberger

Berman

CLO

XIV,

Ltd.

3,500,000

1.277%, 

(LIBOR

3M

+

1.030%),

1/28/2030,

Ser.

2013-14A,

Class

AR2

a,b

3,443,058

Neuberger

Berman

CLO,

Ltd.

3,000,000

1.288%, 

(LIBOR

3M

+

1.030%),

4/22/2029,

Ser.

2014-17A,

Class

AR2

a,b

2,954,673

NextGear

Floorplan

Master

Owner

Trust

3,200,000

2.560%, 

10/17/2022,

Ser.

2017-2A,

Class

A2

a

3,209,740

Northstar

Education

Finance,

Inc.

643,430

0.872%, 

(LIBOR

1M

+

0.700%),

12/26/2031,

Ser.

2012-1,

Class

A

a,b

623,997

NRZ

Excess

Spread-Collateralized

Notes

Series

1,927,293

3.193%, 

1/25/2023,

Ser.

2018-PLS1,

Class

A

a

1,937,060

OneMain

Financial

Issuance

Trust

2,250,000

3.840%, 

5/14/2032,

Ser.

2020-1A,

Class

A

a

2,340,110

OZLM

VIII,

Ltd.

4,352,049

1.443%, 

(LIBOR

3M

+

1.170%),

10/17/2029,

Ser.

2014-8A,

Class

A1RR

a,b

4,283,060

Pretium

Mortgage

Credit

Partners,

LLC

3,528,611

3.721%, 

1/25/2059,

Ser.

2019-CFL1,

Class

A1

a,c

3,509,228

Progress

Residential

Trust

2,987,415

2.768%, 

8/17/2034,

Ser.

2017-SFR1,

Class

A

a

3,040,017

2,997,040

3.422%, 

8/17/2035,

Ser.

2019-SFR1,

Class

A

a

3,099,662

3,000,000

2.078%, 

6/18/2037,

Ser.

2020-SFR2,

Class

A

a

3,078,525

RCO

Mortgage,

LLC

6,781,977

4.458%, 

10/25/2023,

Ser.

2018-2,

Class

A1

a,c

6,806,800

Residential

Asset

Mortgage

Program

Series

Trust

307,633

0.462%, 

(LIBOR

1M

+

0.290%),

8/25/2036,

Ser.

2006-RZ3,

Class

A3

b

307,368

SLM

Student

Loan

Trust

2,902,588

0.572%, 

(LIBOR

1M

+

0.400%),

3/25/2025,

Ser.

2010-1,

Class

A

b

2,742,655

Small

Business

Lending

Trust

852,221

2.850%, 

7/15/2026,

Ser.

2019-A,

Class

A

a

836,655

1,520,100

2.620%, 

12/15/2026,

Ser.

2020-A,

Class

A

a

1,479,214

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Asset-Backed

Securities

(13.5%)

-

continued

SoFi

Consumer

Loan

Program

Trust

$

2,010,775

3.010%, 

4/25/2028,

Ser.

2019-2,

Class

A

a

$

2,034,393

855,089

2.020%, 

1/25/2029,

Ser.

2020-1,

Class

A

a

862,700

SoFi

Consumer

Loan

Program,

LLC

309,129

2.770%, 

5/25/2026,

Ser.

2017-3,

Class

A

a

310,839

611,336

3.060%, 

9/25/2028,

Ser.

2016-5,

Class

A

a

612,299

SoFi

Professional

Loan

Program,

LLC

289,678

2.510%, 

8/25/2033,

Ser.

2015-C,

Class

A2

a

291,930

184,959

1.022%, 

(LIBOR

1M

+

0.850%),

7/25/2039,

Ser.

2016-E,

Class

A1

a,b

184,451

Sound

Point

CLO

XX,

Ltd.

3,000,000

1.345%, 

(LIBOR

3M

+

1.100%),

7/26/2031,

Ser.

2018-2A,

Class

A

a,b

2,902,527

THL

Credit

Wind

River

CLO,

Ltd.

6,000,000

1.502%, 

(LIBOR

3M

+

1.230%),

7/20/2030,

Ser.

2017-2A,

Class

A

a,b

5,910,036

Upstart

Securitization

Trust

2,058,942

2.897%, 

9/20/2029,

Ser.

2019-2,

Class

A

a

2,075,084

2,743,647

2.684%, 

1/21/2030,

Ser.

2019-3,

Class

A

a

2,767,045

4,531,529

2.322%, 

4/22/2030,

Ser.

2020-1,

Class

A

a

4,562,358

Vericrest

Opportunity

Loan

Transferee

4,201,008

3.352%, 

9/25/2049,

Ser.

2019-NPL5,

Class

A1A

a,c

4,197,537

Voya

CLO,

Ltd.

1,248,050

1.475%, 

(LIBOR

3M

+

1.200%),

10/15/2030,

Ser.

2012-4A,

Class

A1AR

a,b

1,224,771

Total

162,265,902

Basic

Materials

(1.0%)

Air

Products

and

Chemicals,

Inc.

975,000

1.500%, 

10/15/2025

1,018,713

Dow

Chemical

Company

1,500,000

3.150%, 

5/15/2024

1,613,468

DowDuPont,

Inc.

2,000,000

4.205%, 

11/15/2023

2,208,254

EI

du

Pont

de

Nemours

&

Company

800,000

1.700%, 

7/15/2025

836,190

Glencore

Funding,

LLC

1,500,000

3.000%, 

10/27/2022

a

1,546,050

Kinross

Gold

Corporation

1,000,000

5.950%, 

3/15/2024

1,136,442

Mosaic

Company

750,000

3.250%, 

11/15/2022

773,797

Nucor

Corporation

950,000

2.000%, 

6/1/2025

999,867

Steel

Dynamics,

Inc.

925,000

2.400%, 

6/15/2025

971,065

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

110

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Basic

Materials

(1.0%)

-

continued

Syngenta

Finance

NV

$

1,000,000

4.892%, 

4/24/2025

a

$

1,071,742

Total

12,175,588

Capital

Goods

(1.8%)

Caterpillar

Financial

Services

Corporation

1,580,000

1.950%, 

11/18/2022

1,636,413

CNH

Industrial

Capital,

LLC

1,180,000

1.950%, 

7/2/2023

1,190,984

General

Electric

Company

1,010,000

3.450%, 

5/15/2024

1,088,366

Honeywell

International,

Inc.

1,075,000

1.350%, 

6/1/2025

1,112,164

Huntington

Ingalls

Industries,

Inc.

800,000

3.844%, 

5/1/2025

a

888,672

Northrop

Grumman

Corporation

2,000,000

2.550%, 

10/15/2022

2,087,742

Otis

Worldwide

Corporation

2,375,000

2.056%, 

4/5/2025

a

2,515,209

PACCAR

Financial

Corporation

1,350,000

2.650%, 

4/6/2023

1,425,330

Republic

Services,

Inc.

1,250,000

2.500%, 

8/15/2024

1,340,177

Roper

Technologies,

Inc.

500,000

2.800%, 

12/15/2021

515,027

1,250,000

3.650%, 

9/15/2023

1,366,259

750,000

2.350%, 

9/15/2024

799,183

Siemens

Financieringsmaatschappij

NV

2,000,000

0.931%, 

(LIBOR

3M

+

0.610%),

3/16/2022

a,b,d

2,010,449

Textron,

Inc.

2,000,000

3.875%, 

3/1/2025

2,157,480

WW

Grainger,

Inc.

1,125,000

1.850%, 

2/15/2025

1,183,645

Total

21,317,100

Collateralized

Mortgage

Obligations

(14.5%)

Angel

Oak

Mortgage

Trust

1,401,887

2.531%, 

1/26/2065,

Ser.

2020-2,

Class

A1A

a,b

1,427,168

Angel

Oak

Mortgage

Trust

I,

LLC

1,906,021

3.258%, 

4/27/2048,

Ser.

2018-1,

Class

A1

a,b

1,931,236

2,158,619

3.674%, 

7/27/2048,

Ser.

2018-2,

Class

A1

a,b

2,201,279

Antler

Mortgage

Trust

2,500,000

4.458%, 

6/27/2022,

Ser.

2019-RTL1,

Class

A1

a

2,506,769

2,679,170

4.335%, 

7/25/2022,

Ser.

2018-RTL1,

Class

A1

a

2,684,385

Banc

of

America

Funding

Trust

394,215

3.225%, 

1/25/2035,

Ser.

2004-D,

Class

4A1

b

395,570

1,533,203

5.750%, 

3/25/2036,

Ser.

2006-3,

Class

3A1

1,579,302

Bear

Stearns

Adjustable

Rate

Mortgage

Trust

105,944

4.270%, 

(CMT

1Y

+

2.300%),

10/25/2035,

Ser.

2005-9,

Class

A1

b

105,092

602,914

4.753%, 

10/25/2036,

Ser.

2006-4,

Class

1A1

b

582,000

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Collateralized

Mortgage

Obligations

(14.5%)

-

continued

Bellemeade

Re,

Ltd.

$

5,500,000

2.822%, 

(LIBOR

1M

+

2.650%),

6/25/2030,

Ser.

2020-1A,

Class

M1A

a,b

$

5,516,579

BRAVO

Residential

Funding

Trust

1,689,761

3.500%, 

3/25/2058,

Ser.

2019-1,

Class

A1C

a

1,737,941

Cascade

Funding

Mortgage

Trust

2,449,055

4.000%, 

10/25/2068,

Ser.

2018-RM2,

Class

A

a,b

2,546,364

Chase

Mortgage

Finance

Trust

Series

1,596,874

4.643%, 

7/25/2037,

Ser.

2007-A2,

Class

1M

b

1,484,027

COLT

Funding,

LLC

691,237

3.470%, 

7/27/2048,

Ser.

2018-2,

Class

A1

a,b

697,876

1,454,141

2.764%, 

8/25/2049,

Ser.

2019-3,

Class

A1

a,b

1,471,642

Countrywide

Alternative

Loan

Trust

160,926

5.500%, 

11/25/2035,

Ser.

2005-49CB,

Class

A1

151,153

135,394

5.500%, 

2/25/2036,

Ser.

2005-85CB,

Class

2A2

127,224

Credit

Suisse

Mortgage

Capital

Certificates

2,191,631

3.393%, 

2/25/2024,

Ser.

2020-BPL1,

Class

A1

a,c

2,192,784

2,500,000

1.155%, 

(LIBOR

1M

+

0.980%),

5/15/2036,

Ser.

2019-ICE4,

Class

A

a,b

2,493,724

Deephaven

Residential

Mortgage

Trust

3,820,089

2.791%, 

10/25/2059,

Ser.

2019-4A,

Class

A1

a,b

3,869,364

Ellington

Financial

Mortgage

Trust

1,251,373

4.140%, 

10/25/2058,

Ser.

2018-1,

Class

A1FX

a,b

1,280,520

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

1,613,389

3.000%, 

8/15/2040,

Ser.

4364,

Class

A

1,655,633

Federal

National

Mortgage

Association

-

REMIC

4,167,688

4.000%, 

3/25/2029,

Ser.

2012-74,

Class

V

4,343,684

656,442

3.000%, 

1/25/2041,

Ser.

2015-79,

Class

BA

663,859

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

40,166

2.250%, 

6/25/2025,

Ser.

2010-58,

Class

PT

40,280

FWD

Securitization

Trust

3,243,217

2.810%, 

6/25/2049,

Ser.

2019-INV1,

Class

A1

a,b

3,320,266

GCAT

Trust

3,218,419

2.985%, 

2/25/2059,

Ser.

2019-NQM1,

Class

A1

a,c

3,257,453

Genworth

Mortgage

Insurance

Corporation

2,000,000

2.072%, 

(LIBOR

1M

+

1.900%),

11/26/2029,

Ser.

2019-1,

Class

M1

a,b

1,924,257

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

111

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Collateralized

Mortgage

Obligations

(14.5%)

-

continued

GMAC

Mortgage

Corporation

Loan

Trust

$

22,670

0.672%, 

(LIBOR

1M

+

0.500%),

8/25/2035,

Ser.

2005-HE1,

Class

A2

b,e

$

23,917

122,796

5.750%, 

10/25/2036,

Ser.

2006-HE3,

Class

A2

b

127,231

GS

Mortgage-Backed

Securities

Trust

2,922,236

3.750%, 

10/25/2057,

Ser.

2018-RPL1,

Class

A1A

a

3,082,128

1,056,267

2.625%, 

1/25/2059,

Ser.

2019-SL1,

Class

A1

a,b

1,064,768

GSAA

Home

Equity

Trust

920,881

4.534%, 

8/25/2034,

Ser.

2004-10,

Class

M2

c

981,924

Homeward

Opportunities

Fund

I

Trust

3,772,243

3.454%, 

1/25/2059,

Ser.

2019-1,

Class

A1

a,b

3,827,324

J.P.

Morgan

Alternative

Loan

Trust

478,782

3.796%, 

3/25/2036,

Ser.

2006-A1,

Class

2A1

b

427,528

J.P.

Morgan

Mortgage

Trust

215,443

3.948%, 

2/25/2036,

Ser.

2006-A1,

Class

2A2

b

186,876

Legacy

Mortgage

Asset

Trust

3,309,208

4.000%, 

1/25/2059,

Ser.

2019-GS1,

Class

A1

a

3,365,334

1,969,760

3.250%, 

2/25/2060,

Ser.

2020-GS4,

Class

A1

a,c

1,983,025

Long

Beach

Mortgage

Loan

Trust

756,801

1.042%, 

(LIBOR

1M

+

0.870%),

2/25/2035,

Ser.

2005-1,

Class

M3

b

755,277

Master

Asset

Securitization

Trust

518,279

0.672%, 

(LIBOR

1M

+

0.500%),

6/25/2036,

Ser.

2006-2,

Class

2A2

b

142,179

Merrill

Lynch

Mortgage

Investors

Trust

241,799

1.357%, 

(LIBOR

1M

+

1.185%),

7/25/2035,

Ser.

2004-WMC5,

Class

M3

b

241,146

Mortgage

Equity

Conversion

Asset

Trust

1,132,531

0.630%, 

(CMT

1Y

+

0.490%),

1/25/2042,

Ser.

2007-FF1,

Class

A

a,b

1,073,306

1,118,541

0.630%, 

(CMT

1Y

+

0.470%),

2/25/2042,

Ser.

2007-FF2,

Class

A

a,b

1,068,322

New

Residential

Mortgage

Loan

Trust

2,961,341

4.335%, 

7/25/2050,

Ser.

2020-NPL1,

Class

A1

a,c

2,960,999

New

Residential

Mortgage,

LLC

2,590,044

3.790%, 

7/25/2054,

Ser.

2018-FNT2,

Class

A

a

2,535,208

Oaktown

Re

II,

Ltd.

206,553

1.722%, 

(LIBOR

1M

+

1.550%),

7/25/2028,

Ser.

2018-1A,

Class

M1

a,b

205,605

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Collateralized

Mortgage

Obligations

(14.5%)

-

continued

Preston

Ridge

Partners

Mortgage

Trust,

LLC

$

855,958

4.500%, 

1/25/2024,

Ser.

2019-1A,

Class

A1

a,c

$

861,457

1,989,198

3.967%, 

4/25/2024,

Ser.

2019-2A,

Class

A1

a,c

2,005,550

3,523,904

3.500%, 

10/25/2024,

Ser.

2019-GS1,

Class

A1

a,b

3,506,474

2,869,441

3.351%, 

11/25/2024,

Ser.

2019-4A,

Class

A1

a,c

2,850,544

2,762,761

2.981%, 

2/25/2025,

Ser.

2020-1A,

Class

A1

a,c

2,747,658

Pretium

Mortgage

Credit

Partners,

LLC

5,458,354

2.858%, 

5/27/2059,

Ser.

2020-NPL1,

Class

A1

a,c

5,406,351

Radnor

RE,

Ltd.

177,458

1.572%, 

(LIBOR

1M

+

1.400%),

3/25/2028,

Ser.

2018-1,

Class

M1

a,b

177,149

RCO

Mortgage,

LLC

3,608,594

3.475%, 

11/25/2024,

Ser.

2019-2,

Class

A1

a,c

3,593,349

2,974,498

4.270%, 

12/26/2053,

Ser.

2018-VFS1,

Class

A1

a,b

3,110,855

Residential

Asset

Securitization

Trust

273,066

5.750%, 

2/25/2036,

Ser.

2005-A15,

Class

5A1

172,221

Residential

Funding

Mortgage

Security

I

Trust

262,748

5.500%, 

10/25/2021,

Ser.

2006-S10,

Class

2A1

250,941

Silver

Hill

Trust

4,993,209

3.102%, 

11/25/2049,

Ser.

2019-SBC1,

Class

A1

a,b

5,085,352

Specialty

Underwriting

and

Residential

Finance

Trust

3,195,358

1.172%, 

(LIBOR

1M

+

1.000%),

7/25/2035,

Ser.

2004-BC3,

Class

A2C

b

2,963,123

3,578,304

1.152%, 

(LIBOR

1M

+

0.980%),

10/25/2035,

Ser.

2004-BC4,

Class

A2C

b

3,459,081

Stanwich

Mortgage

Loan

Trust

3,011,463

3.475%, 

11/16/2024,

Ser.

2019-NPB2,

Class

A1

a,c

2,981,494

Starwood

Mortgage

Residential

Trust

2,550,970

4.121%, 

10/25/2048,

Ser.

2018-IMC2,

Class

A1

a,b

2,630,948

2,843,664

2.718%, 

4/25/2060,

Ser.

2020-2,

Class

A1

a,b

2,845,709

Terwin

Mortgage

Trust

1,445,006

1.172%, 

(LIBOR

1M

+

1.000%),

12/25/2034,

Ser.

2004-21HE,

Class

2M2

a,b

1,408,927

Toorak

Mortgage

Corporation

4,000,000

4.336%, 

8/25/2021,

Ser.

2018-1,

Class

A1

a,c

4,003,881

6,000,000

4.458%, 

3/25/2022,

Ser.

2019-1,

Class

A1

a,c

6,034,549

3,500,000

3.721%, 

9/25/2022,

Ser.

2019-2,

Class

A1

3,495,849

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

112

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Collateralized

Mortgage

Obligations

(14.5%)

-

continued

$

3,500,000

2.734%, 

3/25/2023,

Ser.

2020-1,

Class

A1

a,c

$

3,433,113

TVC

Mortgage

Trust

3,200,000

3.474%, 

9/25/2024,

Ser.

2020-RTL1,

Class

A1

a

3,189,246

Vericrest

Opportunity

Loan

Transferee

2,349,439

2.981%, 

3/25/2050,

Ser.

2020-NPL4,

Class

A1

a,c

2,312,438

1,340,422

3.352%, 

8/25/2049,

Ser.

2019-NPL4,

Class

A1A

a,c

1,341,819

3,500,000

4.090%, 

11/25/2049,

Ser.

2019-NPL8,

Class

A1B

a,c

3,377,942

4,112,376

3.327%, 

11/26/2049,

Ser.

2019-NPL9,

Class

A1A

a,c

4,089,969

4,000,000

4.090%, 

11/26/2049,

Ser.

2019-NPL9,

Class

A1B

a,c

3,899,262

2,349,570

3.426%, 

12/27/2049,

Ser.

2019-NP10,

Class

A1A

a,c

2,345,492

Verus

Securitization

Trust

2,506,871

3.836%, 

2/25/2059,

Ser.

2019-1,

Class

A1

a,b

2,555,082

3,786,784

3.211%, 

5/25/2059,

Ser.

2019-2,

Class

A1

a,b

3,862,321

3,284,880

2.913%, 

7/25/2059,

Ser.

2019-INV2,

Class

A1

a,b

3,342,912

1,642,727

1.977%, 

4/25/2060,

Ser.

2020-INV1,

Class

A1

a,b

1,637,529

1,933,148

2.226%, 

5/25/2060,

Ser.

2020-2,

Class

A1

a,b

1,953,564

Wachovia

Asset

Securitization,

Inc.

231,523

0.312%, 

(LIBOR

1M

+

0.140%),

7/25/2037,

Ser.

2007-HE1,

Class

A

a,b,e

199,988

Wachovia

Mortgage

Loan

Trust,

LLC

107,740

3.898%, 

5/20/2036,

Ser.

2006-A,

Class

2A1

b

105,196

WaMu

Mortgage

Pass

Through

Certificates

1,151,027

2.202%, 

(12

MTA

+

0.880%),

10/25/2046,

Ser.

2006-AR13,

Class

1A

b

1,018,388

Total

174,495,251

Commercial

Mortgage-Backed

Securities

(0.4%)

Federal

National

Mortgage

Association

-

ACES

1,650,068

3.560%, 

9/25/2021,

Ser.

2018-M5,

Class

A2

b

1,668,780

GSAA

Home

Equity

Trust

1,030,997

2.122%, 

(LIBOR

1M

+

1.950%),

5/25/2034,

Ser.

2004-4,

Class

M2

b

1,069,965

Morgan

Stanley

BAML

Trust

2,255,000

2.918%, 

2/15/2046,

Ser.

2013-C7,

Class

A4

2,328,922

Total

5,067,667

Communications

Services

(1.7%)

American

Tower

Corporation

1,500,000

3.375%, 

5/15/2024

1,641,076

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Communications

Services

(1.7%)

-

continued

AT&T,

Inc.

$

2,000,000

1.314%, 

(LIBOR

3M

+

0.890%),

2/15/2023

b

$

2,002,127

Charter

Communications

Operating,

LLC

2,125,000

4.500%, 

2/1/2024

2,361,746

Cox

Communications,

Inc.

1,500,000

3.150%, 

8/15/2024

a

1,630,630

Crown

Castle

International

Corporation

1,000,000

3.200%, 

9/1/2024

1,089,940

Discovery

Communications,

LLC

1,050,000

2.950%, 

3/20/2023

1,104,890

Fox

Corporation

1,000,000

3.666%, 

1/25/2022

1,047,681

1,060,000

3.050%, 

4/7/2025

1,163,810

Omnicom

Group,

Inc.

1,250,000

3.625%, 

5/1/2022

1,318,141

Sprint

Corporation

1,340,000

7.125%, 

6/15/2024

1,563,177

T-Mobile

USA,

Inc.

2,265,000

3.500%, 

4/15/2025

a

2,502,394

Vodafone

Group

PLC

2,125,000

2.950%, 

2/19/2023

2,249,430

Walt

Disney

Company

1,335,000

1.750%, 

1/13/2026

1,395,019

Total

21,070,061

Consumer

Cyclical

(3.1%)

Alibaba

Group

Holding,

Ltd.

500,000

2.800%, 

6/6/2023

531,844

Amazon.com,

Inc.

2,400,000

0.800%, 

6/3/2025

2,436,646

American

Honda

Finance

Corporation

1,050,000

1.950%, 

5/10/2023

1,089,404

1,070,000

1.200%, 

7/8/2025

1,086,035

BMW

U.S.

Capital,

LLC

2,000,000

3.150%, 

4/18/2024

a

2,156,354

D.R.

Horton,

Inc.

950,000

2.600%, 

10/15/2025

1,014,966

Daimler

Finance

North

America,

LLC

1,125,000

1.750%, 

3/10/2023

a

1,150,713

1,000,000

1.396%, 

(LIBOR

3M

+

0.840%),

5/4/2023

a,b

984,458

Ford

Motor

Credit

Company,

LLC

1,000,000

1.627%, 

(LIBOR

3M

+

1.235%),

2/15/2023

b

930,070

General

Motors

Financial

Company,

Inc.

2,100,000

3.950%, 

4/13/2024

2,239,511

1,580,000

2.900%, 

2/26/2025

1,634,877

1,075,000

2.750%, 

6/20/2025

1,108,607

Harley-Davidson

Financial

Services,

Inc.

574,000

4.050%, 

2/4/2022

a

596,234

Home

Depot,

Inc.

1,600,000

4.400%, 

4/1/2021

1,627,077

Hyundai

Capital

Services,

Inc.

2,000,000

3.000%, 

3/6/2022

a

2,053,015

1,500,000

3.000%, 

8/29/2022

a

1,540,369

Kohl's

Corporation

1,260,000

9.500%, 

5/15/2025

1,502,199

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

113

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Consumer

Cyclical

(3.1%)

-

continued

Lennar

Corporation

$

1,260,000

4.875%, 

12/15/2023

$

1,357,915

400,000

5.875%, 

11/15/2024

453,442

Lowe's

Companies,

Inc.

800,000

4.000%, 

4/15/2025

917,209

Ralph

Lauren

Corporation

800,000

1.700%, 

6/15/2022

816,892

Starbucks

Corporation

1,100,000

1.300%, 

5/7/2022

1,116,378

Target

Corporation

1,060,000

2.250%, 

4/15/2025

1,140,419

TJX

Companies,

Inc.

1,325,000

3.500%, 

4/15/2025

1,477,201

Toyota

Motor

Credit

Corporation

1,075,000

1.800%, 

2/13/2025

1,125,768

VF

Corporation

1,100,000

2.050%, 

4/23/2022

1,128,831

Volkswagen

Group

of

America

Finance,

LLC

2,000,000

4.250%, 

11/13/2023

a

2,208,679

1,500,000

2.850%, 

9/26/2024

a

1,605,346

Total

37,030,459

Consumer

Non-Cyclical

(5.0%)

Abbott

Laboratories

1,262,000

2.550%, 

3/15/2022

1,308,044

AbbVie,

Inc.

2,100,000

2.300%, 

11/21/2022

a

2,178,918

2,000,000

3.850%, 

6/15/2024

a

2,215,573

2,080,000

3.600%, 

5/14/2025

2,328,843

Altria

Group,

Inc.

2,500,000

3.800%, 

2/14/2024

2,747,792

Amgen,

Inc.

1,680,000

1.900%, 

2/21/2025

1,767,384

Anthem,

Inc.

1,225,000

2.375%, 

1/15/2025

1,310,569

Becton,

Dickinson

and

Company

750,000

1.181%, 

(LIBOR

3M

+

0.875%),

12/29/2020

b

750,151

1,950,000

3.125%, 

11/8/2021

2,012,489

Boston

Scientific

Corporation

2,100,000

3.450%, 

3/1/2024

2,291,416

Bristol-Myers

Squibb

Company

2,000,000

3.625%, 

5/15/2024

2,215,474

Cargill,

Inc.

1,000,000

3.250%, 

3/1/2023

a

1,064,656

1,200,000

1.375%, 

7/23/2023

a

1,229,435

Centene

Corporation

1,200,000

5.375%, 

8/15/2026

a

1,284,000

CK

Hutchison

International,

Ltd.

2,000,000

2.750%, 

3/29/2023

a

2,073,239

Coca-Cola

Company

1,100,000

2.950%, 

3/25/2025

1,222,600

Conagra

Brands,

Inc.

1,750,000

4.300%, 

5/1/2024

1,957,495

Constellation

Brands,

Inc.

1,000,000

2.700%, 

5/9/2022

1,036,824

1,500,000

3.200%, 

2/15/2023

1,596,031

CVS

Health

Corporation

1,750,000

3.700%, 

3/9/2023

1,883,323

1,050,000

4.000%, 

12/5/2023

1,157,642

1,000,000

4.100%, 

3/25/2025

1,136,500

Diageo

Capital

plc

800,000

1.375%, 

9/29/2025

826,964

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Consumer

Non-Cyclical

(5.0%)

-

continued

General

Mills,

Inc.

$

1,500,000

1.283%, 

(LIBOR

3M

+

1.010%),

10/17/2023

b

$

1,515,972

Imperial

Brands

Finance

plc

1,750,000

3.125%, 

7/26/2024

a

1,858,507

Imperial

Tobacco

Finance

plc

1,500,000

3.750%, 

7/21/2022

a

1,567,800

Mondelez

International,

Inc.

975,000

2.125%, 

4/13/2023

1,016,754

Mylan

NV

1,125,000

3.150%, 

6/15/2021

1,148,105

Novartis

Capital

Corporation

2,400,000

1.750%, 

2/14/2025

2,529,503

PepsiCo,

Inc.

1,850,000

2.250%, 

3/19/2025

1,992,719

Pernod

Ricard

SA

1,915,000

4.250%, 

7/15/2022

a

2,049,578

Philip

Morris

International,

Inc.

1,100,000

1.125%, 

5/1/2023

1,119,467

Smithfield

Foods,

Inc.

2,000,000

2.650%, 

10/3/2021

a

1,995,762

Thermo

Fisher

Scientific,

Inc.

800,000

4.133%, 

3/25/2025

921,358

UnitedHealth

Group,

Inc.

1,000,000

3.500%, 

2/15/2024

1,104,566

Upjohn,

Inc.

800,000

1.650%, 

6/22/2025

a

822,708

Zimmer

Biomet

Holdings,

Inc.

1,500,000

1.066%, 

(LIBOR

3M

+

0.750%),

3/19/2021

b

1,500,137

Zoetis,

Inc.

1,450,000

3.250%, 

2/1/2023

1,539,216

Total

60,277,514

Energy

(3.2%)

BP

Capital

Markets

America,

Inc.

1,500,000

0.966%, 

(LIBOR

3M

+

0.650%),

9/19/2022

b

1,506,149

1,000,000

3.790%, 

2/6/2024

1,099,551

Canadian

Natural

Resources,

Ltd.

1,600,000

2.050%, 

7/15/2025

1,635,819

Chevron

Corporation

1,475,000

1.141%, 

5/11/2023

1,508,068

Continental

Resources,

Inc.

2,100,000

4.500%, 

4/15/2023

2,097,564

Diamondback

Energy,

Inc.

1,050,000

2.875%, 

12/1/2024

1,067,136

Encana

Corporation

1,000,000

3.900%, 

11/15/2021

1,004,718

Energy

Transfer

Operating,

LP

1,675,000

4.200%, 

9/15/2023

1,769,065

1,050,000

2.900%, 

5/15/2025

1,061,870

EOG

Resources,

Inc.

975,000

2.625%, 

3/15/2023

1,025,926

Equinor

ASA

1,075,000

2.875%, 

4/6/2025

1,176,152

Exxon

Mobil

Corporation

1,465,000

0.688%, 

(LIBOR

3M

+

0.370%),

3/6/2022

b

1,470,941

1,400,000

2.992%, 

3/19/2025

1,540,160

Hess

Corporation

2,000,000

3.500%, 

7/15/2024

2,033,579

Marathon

Oil

Corporation

2,000,000

2.800%, 

11/1/2022

2,025,216

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

114

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Energy

(3.2%)

-

continued

Marathon

Petroleum

Corporation

$

1,325,000

3.400%, 

12/15/2020

$

1,335,761

MPLX,

LP

500,000

3.500%, 

12/1/2022

521,724

1,500,000

4.875%, 

6/1/2025

1,699,490

National

Fuel

Gas

Company

375,000

5.500%, 

1/15/2026

405,419

Newfield

Exploration

Company

1,000,000

5.750%, 

1/30/2022

1,015,059

700,000

5.625%, 

7/1/2024

699,334

Noble

Energy,

Inc.

1,185,000

3.900%, 

11/15/2024

1,319,429

ONEOK,

Inc.

1,000,000

2.750%, 

9/1/2024

1,016,001

Petroleos

Mexicanos

850,000

2.378%, 

4/15/2025

882,395

Plains

All

American

Pipeline,

LP

2,000,000

3.850%, 

10/15/2023

2,104,648

Schlumberger

Holdings

Corporation

1,500,000

3.750%, 

5/1/2024

a

1,629,908

Suncor

Energy,

Inc.

1,070,000

2.800%, 

5/15/2023

1,124,979

Transcontinental

Gas

Pipe

Line

Company,

LLC

650,000

7.850%, 

2/1/2026

851,899

Williams

Partners,

LP

1,325,000

3.600%, 

3/15/2022

1,379,458

Total

38,007,418

Financials

(15.7%)

AerCap

Ireland

Capital

Designated

Activity

Company

and

AerCap

Global

Aviation

Trust

1,000,000

3.300%, 

1/23/2023

991,089

AerCap

Ireland

Capital,

Ltd.

425,000

6.500%, 

7/15/2025

455,996

American

Express

Credit

Corporation

650,000

1.363%, 

(LIBOR

3M

+

1.050%),

9/14/2020

b

650,174

American

International

Group,

Inc.

1,150,000

3.300%, 

3/1/2021

1,167,364

1,200,000

2.500%, 

6/30/2025

1,283,224

Athene

Global

Funding

2,000,000

1.534%, 

(LIBOR

3M

+

1.230%),

7/1/2022

a,b

2,007,481

Australia

and

New

Zealand

Banking

Group,

Ltd.

2,110,000

2.950%, 

7/22/2030

a,b

2,188,811

Aviation

Capital

Group,

LLC

1,100,000

5.500%, 

12/15/2024

a

1,126,650

Banco

Santander

Mexico

SA

380,000

5.375%, 

4/17/2025

a

421,249

Banco

Santander

SA

800,000

1.386%, 

(LIBOR

3M

+

1.120%),

4/12/2023

b

799,348

Bank

of

America

Corporation

1,500,000

2.816%, 

7/21/2023

b

1,562,646

2,150,000

4.200%, 

8/26/2024

2,410,151

1,000,000

3.458%, 

3/15/2025

b

1,092,787

2,100,000

2.456%, 

10/22/2025

b

2,228,152

1,475,000

1.319%, 

6/19/2026

b

1,493,657

Bank

of

Montreal

1,500,000

3.300%, 

2/5/2024

1,637,885

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Financials

(15.7%)

-

continued

Bank

of

New

York

Mellon

Corporation

$

2,115,000

1.850%, 

1/27/2023

$

2,189,771

1,100,000

1.600%, 

4/24/2025

1,148,548

800,000

4.700%, 

9/20/2025

b,f

866,224

Bank

of

New

Zealand

1,125,000

2.000%, 

2/21/2025

a

1,180,843

Bank

of

Nova

Scotia

1,325,000

1.950%, 

2/1/2023

1,371,339

1,265,000

1.625%, 

5/1/2023

d

1,303,873

1,065,000

4.900%, 

6/4/2025

b,f

1,094,138

Barclays

plc

1,250,000

3.250%, 

1/12/2021

1,265,275

2,000,000

3.684%, 

1/10/2023

2,077,737

2,000,000

1.766%, 

(LIBOR

3M

+

1.380%),

5/16/2024

b

2,003,516

BNP

Paribas

SA

1,040,000

2.819%, 

11/19/2025

a,b

1,104,656

BPCE

SA

1,000,000

1.578%, 

(LIBOR

3M

+

1.220%),

5/22/2022

a,b

1,008,830

1,050,000

2.375%, 

1/14/2025

a

1,099,857

Branch

Banking

and

Trust

Company

2,200,000

2.150%, 

12/6/2024

2,340,501

Canadian

Imperial

Bank

of

Commerce

2,125,000

2.250%, 

1/28/2025

2,249,600

Capital

One

Bank

USA

NA

2,125,000

2.014%, 

1/27/2023

b

2,163,501

Capital

One

Financial

Corporation

1,500,000

3.900%, 

1/29/2024

1,643,279

Charles

Schwab

Corporation

600,000

5.375%, 

6/1/2025

b,f

657,000

Citigroup,

Inc.

1,500,000

1.205%, 

(LIBOR

3M

+

0.960%),

4/25/2022

b

1,515,035

2,110,000

2.312%, 

11/4/2022

b

2,155,217

2,200,000

4.000%, 

8/5/2024

2,426,651

1,075,000

3.106%, 

4/8/2026

b

1,168,400

CNA

Financial

Corporation

1,250,000

5.750%, 

8/15/2021

1,317,367

Comerica,

Inc.

750,000

3.700%, 

7/31/2023

811,245

665,000

5.625%, 

7/1/2025

b,d,f

710,087

Compass

Bank

1,500,000

2.875%, 

6/29/2022

1,549,496

Cooperatieve

Rabobank

UA

1,875,000

1.339%, 

6/24/2026

a,b

1,904,804

Credit

Agricole

SA

1,065,000

1.907%, 

6/16/2026

a,b

1,095,956

Credit

Suisse

AG

825,000

2.800%, 

4/8/2022

857,385

Credit

Suisse

Group

AG

1,500,000

6.500%, 

8/8/2023

a

1,678,125

810,000

7.500%, 

12/11/2023

a,b,f

887,963

1,200,000

2.193%, 

6/5/2026

a,b

1,236,664

Danske

Bank

AS

1,500,000

5.375%, 

1/12/2024

a

1,695,175

Discover

Bank

1,250,000

2.450%, 

9/12/2024

1,326,009

Fifth

Third

Bancorp

1,100,000

2.875%, 

10/1/2021

1,128,802

2,100,000

2.375%, 

1/28/2025

2,231,122

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

115

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Financials

(15.7%)

-

continued

First

Horizon

National

Corporation

$

1,575,000

3.550%, 

5/26/2023

$

1,651,470

First

Republic

Bank

1,060,000

1.912%, 

2/12/2024

b

1,090,848

FNB

Corporation

1,685,000

2.200%, 

2/24/2023

1,684,064

GE

Capital

Funding,

LLC

1,025,000

3.450%, 

5/15/2025

a

1,081,104

Goldman

Sachs

Group,

Inc.

1,060,000

3.500%, 

4/1/2025

1,174,332

2,085,000

3.272%, 

9/29/2025

b

2,275,083

HCP,

Inc.

1,325,000

4.250%, 

11/15/2023

1,451,827

HSBC

Holdings

plc

1,175,000

1.804%, 

(LIBOR

3M

+

1.500%),

1/5/2022

b

1,193,845

2,000,000

3.262%, 

3/13/2023

b

2,074,892

1,500,000

6.250%, 

3/23/2023

b,f

1,490,505

Huntington

Bancshares,

Inc.

1,450,000

3.150%, 

3/14/2021

1,471,330

ING

Groep

NV

2,400,000

1.456%, 

(LIBOR

3M

+

1.150%),

3/29/2022

b,d

2,425,800

500,000

4.625%, 

1/6/2026

a

591,810

International

Lease

Finance

Corporation

1,440,000

5.875%, 

8/15/2022

1,554,818

J.P.

Morgan

Chase

&

Company

1,250,000

4.487%, 

(LIBOR

3M

+

3.800%),

11/1/2020

b,f

1,234,088

1,075,000

1.514%, 

6/1/2024

b

1,100,263

1,900,000

3.875%, 

9/10/2024

2,123,486

1,500,000

1.123%, 

(LIBOR

3M

+

0.850%),

1/10/2025

b,d

1,512,299

1,200,000

2.005%, 

3/13/2026

b

1,250,768

1,100,000

2.083%, 

4/22/2026

b

1,153,338

Kilroy

Realty,

LP

700,000

3.800%, 

1/15/2023

725,530

Lincoln

National

Corporation

1,000,000

4.000%, 

9/1/2023

1,092,272

Lloyds

Banking

Group

plc

1,500,000

2.858%, 

3/17/2023

b

1,550,026

2,000,000

2.907%, 

11/7/2023

b

2,092,374

1,075,000

7.500%, 

6/27/2024

b,f

1,134,125

350,000

4.582%, 

12/10/2025

395,145

Macquarie

Group,

Ltd.

1,500,000

1.391%, 

(LIBOR

3M

+

1.020%),

11/28/2023

a,b

1,501,800

Mitsubishi

UFJ

Financial

Group,

Inc.

995,000

1.373%, 

(LIBOR

3M

+

1.060%),

9/13/2021

b

1,003,921

1,600,000

1.278%, 

(LIBOR

3M

+

0.920%),

2/22/2022

b

1,613,254

1,125,000

2.193%, 

2/25/2025

1,182,535

Mizuho

Financial

Group

Cayman

3,

Ltd.

675,000

4.600%, 

3/27/2024

a

742,396

Mizuho

Financial

Group,

Inc.

1,175,000

1.453%, 

(LIBOR

3M

+

1.140%),

9/13/2021

b

1,186,272

1,500,000

2.555%, 

9/13/2025

b

1,575,394

Morgan

Stanley

1,000,000

3.885%, 

(LIBOR

3M

+

3.610%),

10/15/2020

b,f

947,464

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Financials

(15.7%)

-

continued

$

2,200,000

4.100%, 

5/22/2023

$

2,391,646

750,000

2.720%, 

7/22/2025

b

801,791

1,425,000

5.000%, 

11/24/2025

1,696,932

National

Bank

of

Canada

1,050,000

2.100%, 

2/1/2023

1,089,536

National

Securities

Clearing

Corporation

1,650,000

1.200%, 

4/23/2023

a

1,683,019

Nationwide

Building

Society

2,000,000

3.766%, 

3/8/2024

a,b

2,135,406

New

York

Life

Global

Funding

1,050,000

2.000%, 

1/22/2025

a

1,114,707

Nomura

Holdings,

Inc.

2,110,000

2.648%, 

1/16/2025

2,216,976

PayPal

Holdings,

Inc.

1,000,000

2.200%, 

9/26/2022

1,040,209

1,000,000

2.400%, 

10/1/2024

1,071,108

Peachtree

Corners

Funding

Trust

1,125,000

3.976%, 

2/15/2025

a

1,244,591

Realty

Income

Corporation

2,000,000

3.250%, 

10/15/2022

2,101,002

Regions

Financial

Corporation

1,075,000

2.250%, 

5/18/2025

1,142,368

Reinsurance

Group

of

America,

Inc.

2,000,000

4.700%, 

9/15/2023

2,208,531

Royal

Bank

of

Canada

2,100,000

1.950%, 

1/17/2023

2,175,185

1,100,000

1.600%, 

4/17/2023

1,134,435

Royal

Bank

of

Scotland

Group

plc

2,000,000

1.862%, 

(LIBOR

3M

+

1.470%),

5/15/2023

b

2,009,574

2,000,000

3.498%, 

5/15/2023

b

2,091,262

Santander

Holdings

USA,

Inc.

1,000,000

3.400%, 

1/18/2023

1,047,009

400,000

3.450%, 

6/2/2025

427,994

Santander

UK

Group

Holdings

plc

750,000

3.125%, 

1/8/2021

758,659

Santander

UK

plc

1,050,000

2.100%, 

1/13/2023

1,088,124

Simon

Property

Group,

LP

1,400,000

2.500%, 

7/15/2021

1,419,871

Societe

Generale

SA

2,200,000

2.625%, 

10/16/2024

a

2,289,961

Stadshypotek

AB

2,000,000

2.500%, 

4/5/2022

a

2,068,418

Standard

Chartered

plc

1,000,000

3.950%, 

1/11/2023

a

1,043,790

State

Street

Corporation

2,062,000

1.286%, 

(LIBOR

3M

+

0.900%),

8/18/2020

b

2,062,909

250,000

2.825%, 

3/30/2023

a,b

259,484

1,585,000

2.354%, 

11/1/2025

b

1,699,582

Sumitomo

Mitsui

Financial

Group,

Inc.

2,300,000

2.448%, 

9/27/2024

2,432,862

SunTrust

Banks,

Inc.

725,000

2.900%, 

3/3/2021

734,539

Synchrony

Financial

250,000

2.850%, 

7/25/2022

255,684

1,780,000

4.250%, 

8/15/2024

1,890,577

Synovus

Bank

1,060,000

2.289%, 

2/10/2023

b

1,079,045

Truist

Financial

Corporation

825,000

4.950%, 

9/1/2025

b,f

880,688

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

116

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Financials

(15.7%)

-

continued

U.S.

Bank

NA

$

2,200,000

2.050%, 

1/21/2025

$

2,337,038

UBS

AG

550,000

1.750%, 

4/21/2022

a

561,555

UBS

Group

AG

1,625,000

1.008%, 

7/30/2024

a,b

1,632,736

Ventas

Realty,

LP

2,000,000

3.100%, 

1/15/2023

2,066,054

VEREIT

Operating

Partnership,

LP

510,000

4.625%, 

11/1/2025

560,290

Voya

Financial,

Inc.

500,000

5.650%, 

5/15/2053

b

519,505

Wells

Fargo

&

Company

750,000

3.450%, 

2/13/2023

796,429

1,500,000

3.750%, 

1/24/2024

1,644,272

1,850,000

1.654%, 

6/2/2024

b

1,885,784

2,110,000

2.406%, 

10/30/2025

b

2,219,160

Westpac

Banking

Corporation

1,055,000

2.000%, 

1/13/2023

1,094,630

500,000

2.000%, 

1/16/2025

a

530,357

1,060,000

2.894%, 

2/4/2030

b

1,095,173

Total

188,039,590

Foreign

Government

(0.3%)

Province

of

Ontario

Canada

750,000

3.400%, 

10/17/2023

820,835

Sinopec

Group

Overseas

Development

2018,

Ltd.

2,350,000

2.150%, 

5/13/2025

a

2,444,635

Total

3,265,470

Mortgage-Backed

Securities

(13.0%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

1,460,246

3.000%, 

3/25/2050

1,546,315

1,648,048

3.000%, 

4/1/2050

1,745,187

Federal

Home

Loan

Mortgage

Corporation

Whole

Loan

Securities

Trust

1,733,849

3.500%, 

5/25/2047,

Ser.

2017-SC02,

Class

2A1

e

1,748,647

Federal

National

Mortgage

Association

925,762

4.500%, 

5/1/2048

995,981

1,330,632

3.500%, 

10/1/2048

1,405,127

1,546,132

3.500%, 

8/1/2049

1,636,479

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

42,350,000

2.000%, 

8/1/2035

g

44,050,617

53,175,000

2.500%, 

8/1/2035

g

55,808,824

10,150,000

2.000%, 

9/1/2035

g

10,543,313

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

9,800,000

2.500%, 

8/1/2050

g

10,294,977

1,225,000

2.000%, 

9/1/2050

g

1,266,775

238,156

3.441%, 

(LIBOR

12M

+

1.481%),

1/1/2043

b

245,907

21,338,000

3.000%, 

9/1/2043

g

22,524,145

2,024,297

4.000%, 

7/1/2048

2,148,987

Total

155,961,281

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Technology

(2.5%)

Baidu,

Inc.

$

1,020,000

3.075%, 

4/7/2025

$

1,089,003

Broadcom

Corporation

2,250,000

3.125%, 

1/15/2025

2,418,332

Broadcom,

Inc.

1,500,000

2.250%, 

11/15/2023

a

1,561,391

Dell

International,

LLC/

EMC

Corporation

1,500,000

4.000%, 

7/15/2024

a

1,626,208

410,000

5.850%, 

7/15/2025

a

477,734

Fiserv,

Inc.

2,000,000

2.750%, 

7/1/2024

2,158,742

Global

Payments,

Inc.

875,000

2.650%, 

2/15/2025

937,055

Hewlett

Packard

Enterprise

Company

1,750,000

3.500%, 

10/5/2021

1,805,450

1,150,000

4.450%, 

10/2/2023

1,262,149

Intel

Corporation

1,100,000

3.400%, 

3/25/2025

1,236,606

Intuit,

Inc.

1,875,000

0.950%, 

7/15/2025

1,898,113

Marvell

Technology

Group,

Ltd.

1,000,000

4.200%, 

6/22/2023

1,082,164

Micron

Technology,

Inc.

1,250,000

2.497%, 

4/24/2023

1,304,908

NXP

Funding,

LLC

1,605,000

2.700%, 

5/1/2025

a

1,719,901

Oracle

Corporation

1,195,000

2.500%, 

4/1/2025

1,291,955

Panasonic

Corporation

1,000,000

2.536%, 

7/19/2022

a

1,031,753

1,000,000

2.679%, 

7/19/2024

a

1,072,634

Seagate

HDD

Cayman

1,475,000

4.750%, 

1/1/2025

1,602,148

Tencent

Holdings,

Ltd.

1,025,000

1.810%, 

1/26/2026

a

1,045,999

Texas

Instruments,

Inc.

750,000

1.375%, 

3/12/2025

780,003

Total

System

Services,

Inc.

1,075,000

3.750%, 

6/1/2023

1,157,844

VMware,

Inc.

1,500,000

2.950%, 

8/21/2022

1,565,561

Total

30,125,653

Transportation

(1.8%)

Air

Canada

Pass

Through

Trust

795,105

3.875%, 

3/15/2023

a

676,362

Air

Lease

Corporation

1,750,000

3.500%, 

1/15/2022

1,770,612

1,500,000

4.250%, 

2/1/2024

1,537,915

Aircastle,

Ltd.

1,500,000

4.400%, 

9/25/2023

1,487,115

American

Airlines

Pass

Through

Trust

500,668

3.700%, 

5/1/2023

350,301

Avolon

Holdings

Funding,

Ltd.

1,500,000

3.950%, 

7/1/2024

a

1,364,950

British

Airways

plc

1,026,964

4.625%, 

6/20/2024

a

982,209

Continental

Airlines,

Inc.

1,540,352

4.150%, 

4/11/2024

1,445,895

Delta

Air

Lines,

Inc.

2,100,000

2.900%, 

10/28/2024

1,822,032

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

117

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Transportation

(1.8%)

-

continued

ERAC

USA

Finance,

LLC

$

1,400,000

2.600%, 

12/1/2021

a

$

1,424,627

J.B.

Hunt

Transport

Services,

Inc.

1,200,000

3.300%, 

8/15/2022

1,256,518

Penske

Truck

Leasing

Company,

LP

750,000

3.650%, 

7/29/2021

a

769,939

1,000,000

2.700%, 

11/1/2024

a

1,054,133

1,000,000

3.950%, 

3/10/2025

a

1,108,782

Ryder

System,

Inc.

1,000,000

3.400%, 

3/1/2023

1,059,020

Southwest

Airlines

Company

2,275,000

4.750%, 

5/4/2023

2,387,394

TTX

Company

650,000

4.125%, 

10/1/2023

a

705,921

US

Airways

Pass

Through

Trust

616,760

3.950%, 

11/15/2025

515,159

Total

21,718,884

U.S.

Government

&

Agencies

(15.1%)

Federal

Home

Loan

Bank

8,000,000

2.500%, 

2/13/2024

8,632,492

3,500,000

1.500%, 

8/15/2024

3,670,178

Federal

National

Mortgage

Association

3,500,000

2.875%, 

9/12/2023

3,786,429

U.S.

Treasury

Bonds

1,275,000

2.250%, 

11/15/2027

1,443,738

6,750,000

5.500%, 

8/15/2028

9,452,637

20,590,000

2.625%, 

2/15/2029

24,288,157

2,970,000

1.500%, 

2/15/2030

3,241,245

U.S.

Treasury

Notes

22,000,000

1.500%, 

9/30/2021

22,348,047

19,400,000

2.500%, 

1/15/2022

20,064,601

3,350,000

1.125%, 

2/28/2022

3,402,344

13,845,000

2.000%, 

11/30/2022

14,448,015

12,000,000

1.375%, 

2/15/2023

12,380,625

3,875,000

2.750%, 

7/31/2023

4,178,491

1,500,000

2.500%, 

1/31/2024

1,622,578

2,750,000

2.125%, 

7/31/2024

2,963,770

12,225,000

1.250%, 

8/31/2024

12,757,934

2,250,000

1.375%, 

1/31/2025

2,368,564

2,000,000

2.875%, 

7/31/2025

2,262,812

20,000,000

2.625%, 

1/31/2026

22,565,625

5,000,000

0.500%, 

4/30/2027

5,040,625

Total

180,918,907

Utilities

(2.6%)

Ameren

Corporation

750,000

2.500%, 

9/15/2024

802,999

American

Electric

Power

Company,

Inc.

1,000,000

3.650%, 

12/1/2021

1,039,979

Berkshire

Hathaway

Energy

Company

1,925,000

4.050%, 

4/15/2025

a

2,209,432

CenterPoint

Energy,

Inc.

1,750,000

3.850%, 

2/1/2024

1,925,358

DTE

Energy

Company

1,500,000

3.700%, 

8/1/2023

1,623,293

1,500,000

2.529%, 

10/1/2024

1,598,508

Edison

International

1,580,000

2.950%, 

3/15/2023

d

1,624,172

Enel

Finance

International

NV

2,000,000

2.750%, 

4/6/2023

a

2,083,756

Principal

Amount

Long-Term

Fixed

Income

(95.2%)

Value

Utilities

(2.6%)

-

continued

Exelon

Corporation

$

1,250,000

3.497%, 

6/1/2022

$

1,308,973

Exelon

Generation

Company,

LLC

935,000

3.250%, 

6/1/2025

1,032,078

Florida

Power

&

Light

Company

1,350,000

2.850%, 

4/1/2025

1,483,956

Georgia

Power

Company

1,050,000

2.100%, 

7/30/2023

1,095,020

ITC

Holdings

Corporation

1,500,000

2.700%, 

11/15/2022

1,568,231

Jersey

Central

Power

&

Light

Company

1,500,000

4.300%, 

1/15/2026

a

1,755,398

National

Rural

Utilities

Cooperative

Finance

Corporation

850,000

4.750%, 

4/30/2043

b

854,275

NiSource

Finance

Corporation

1,000,000

2.650%, 

11/17/2022

1,045,549

NiSource,

Inc.

1,250,000

5.650%, 

6/15/2023

b,f

1,218,750

PPL

Capital

Funding,

Inc.

1,420,000

3.500%, 

12/1/2022

1,501,182

Public

Service

Enterprise

Group,

Inc.

2,000,000

2.875%, 

6/15/2024

2,173,961

Sempra

Energy

2,125,000

3.550%, 

6/15/2024

2,327,986

Southern

Company

1,500,000

2.950%, 

7/1/2023

1,593,352

Total

31,866,208

Total

Long-Term

Fixed

Income

(cost

$1,111,628,370)

1,143,602,953

Shares

Registered

Investment

Companies

(

2.8%

)

Value

Unaffiliated  (2.8%)

398,300

Vanguard

Short-Term

Corporate

Bond

ETF

33,098,730

Total

33,098,730

Total

Registered

Investment

Companies

(cost

$32,056,207)

33,098,730

Shares

Collateral

Held

for

Securities

Loaned

(

0.2%

)

Value

3,022,973

Thrivent

Cash

Management

Trust

3,022,973

Total

Collateral

Held

for

Securities

Loaned

(cost

$3,022,973)

3,022,973

Shares

Preferred

Stock

(

0.1%

)

Value

Financials

(0.1%)

54,000

Citigroup

Capital

XIII,

6.638%

b

1,458,000

Total

1,458,000

Total

Preferred

Stock

(cost

$1,490,400)

1,458,000

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

118

Shares

or

Principal

Amount

Short-Term

Investments

(

13.4%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

600,000

0.180%,

8/4/2020

h,i

$

599,999

400,000

0.125%,

8/11/2020

h,i

399,994

400,000

0.100%,

8/25/2020

h,i

399,983

200,000

0.140%,

9/10/2020

h,i

199,981

Thrivent

Core

Short-Term

Reserve

Fund

15,794,172

0.500%

158,099,663

U.S.

Treasury

Bills

400,000

0.133%,

9/17/2020

h

399,956

460,000

0.035%,

9/24/2020

h

459,938

100,000

0.101%,

10/15/2020

h

99,981

Total

Short-Term

Investments

(cost

$160,503,427)

160,659,495

Total

Investments

(cost

$1,308,701,377)

111.7%

$1,341,842,151

Other

Assets

and

Liabilities,

Net

(11.7%)

(140,976,358)

Total

Net

Assets

100.0%

$1,200,865,793

a

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$409,433,686

or

34.1%

of

total

net

assets.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

July

31,

2020.

d

All

or

a

portion

of

the

security

is

on

loan.

e

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

f

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

g

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

h

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

i

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Limited

Maturity

Bond

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

2,937,262

Total

lending

$2,937,262

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$3,022,973

Net

amounts

due

to

counterparty

$85,711

Definitions:

ACES

-

Alternative

Credit

Enhancement

Securities

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

HECM

-

Home

Equity

Conversion

Mortgage

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

Ser.

-

Series

Reference

Rate

Index:

12

MTA

-

12

Month

Treasury

Average

CMT

1Y

-

Constant

Maturity

Treasury

Yield

1

Year

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

LIBOR

12M

-

ICE

Libor

USD

Rate

12

Month

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

119

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Limited

Maturity

Bond

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Long-Term

Fixed

Income

Asset-Backed

Securities

162,265,902

–

162,265,902

–

Basic

Materials

12,175,588

–

12,175,588

–

Capital

Goods

21,317,100

–

21,317,100

–

Collateralized

Mortgage

Obligations

174,495,251

–

174,495,251

–

Commercial

Mortgage-Backed

Securities

5,067,667

–

5,067,667

–

Communications

Services

21,070,061

–

21,070,061

–

Consumer

Cyclical

37,030,459

–

37,030,459

–

Consumer

Non-Cyclical

60,277,514

–

60,277,514

–

Energy

38,007,418

–

38,007,418

–

Financials

188,039,590

–

188,039,590

–

Foreign

Government

3,265,470

–

3,265,470

–

Mortgage-Backed

Securities

155,961,281

–

155,961,281

–

Technology

30,125,653

–

30,125,653

–

Transportation

21,718,884

–

21,718,884

–

U.S.

Government

&

Agencies

180,918,907

–

180,918,907

–

Utilities

31,866,208

–

31,866,208

–

Registered

Investment

Companies

Unaffiliated

33,098,730

33,098,730

–

–

Preferred

Stock

Financials

1,458,000

1,458,000

–

–

Short-Term

Investments

2,559,832

–

2,559,832

–

Subtotal

Investments

in

Securities

$1,180,719,515

$34,556,730

$1,146,162,785

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

158,099,663

Collateral

Held

for

Securities

Loaned

3,022,973

Subtotal

Other

Investments

$161,122,636

Total

Investments

at

Value

$1,341,842,151

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

61,817

61,817

–

–

Total

Asset

Derivatives

$61,817

$61,817

$–

$–

Liability

Derivatives

Futures

Contracts

1,495,534

1,495,534

–

–

Total

Liability

Derivatives

$1,495,534

$1,495,534

$–

$–

Limited

Maturity

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

120

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

The

following

table

presents

Limited

Maturity

Bond

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$1,599,957

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

2-Yr.

U.S.

Treasury

Note

350

September

2020

$

77,282,716

$

61,817

Total

Futures

Long

Contracts

$

77,282,716

$

61,817

CBOT

10-Yr.

U.S.

Treasury

Note

(190)

September

2020

(

$

26,320,326)

(

$

294,519)

CBOT

5-Yr.

U.S.

Treasury

Note

(892)

September

2020

(

111,851,769)

(

651,731)

CBOT

U.S.

Long

Bond

(73)

September

2020

(

12,989,417)

(

317,114)

Ultra

10-Yr.

U.S.

Treasury

Note

(82)

September

2020

(

12,826,330)

(

232,170)

Total

Futures

Short

Contracts

(

$

163,987,842)

($1,495,534)

Total

Futures

Contracts

(

$

86,705,126)

($1,433,717)

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Limited

Maturity

Bond

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$89,624

$370,435

$302,022

$158,100

15,794

13.2%

Total

Affiliated

Short-Term

Investments

89,624

158,100

13.2

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

1,520

142,419

140,916

3,023

3,023

0.2

Total

Collateral

Held

for

Securities

Loaned

1,520

3,023

0.2

Total

Value

$91,144

$161,123

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(93)

$156

$0

$830

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$830

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

8

Total

Affiliated

Income

from

Securities

Loaned,

Net

$8

Total

$(93)

$156

$0

Low

Volatility

Equity

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

121

Shares

Common

Stock

(

100.2%

)

Value

Communications

Services

(10.1%)

10

Alphabet,

Inc.,

Class

A

a

$

14,880

1,815

Auto

Trader

Group

plc

b

12,679

2,106

BCE,

Inc.

88,300

8,471

Deutsche

Telekom

AG

141,422

1,811

Elisa

Oyj

107,408

700

Hakuhodo

Dy

Holdings,

Inc.

7,684

273,000

HKT

Trust

and

HKT,

Ltd.

402,263

1,200

KDDI

Corporation

38,157

19,719

Koninklijke

(Royal)

KPN

NV

51,948

153

Match

Group,

Inc.

a

15,713

4,900

Nippon

Telegraph

&

Telephone

Corporation

113,736

19,200

NTT

DOCOMO,

Inc.

528,597

13,210

Orange

SA

154,833

409,000

PCCW,

Ltd.

230,575

965

Rogers

Communications,

Inc.

39,408

21,100

SoftBank

Corporation

282,449

432

Take-Two

Interactive

Software,

Inc.

a

70,857

8,855

Telefonica

Deutschland

Holding

AG

24,161

1,410

Telenet

Group

Holding

NV

54,697

1,023

T-Mobile

US,

Inc.

a

109,850

11,412

Verizon

Communications,

Inc.

655,962

Total

3,145,579

Consumer

Discretionary

(6.1%)

19

Amazon.com,

Inc.

a

60,129

2,900

Aoyama

Trading

Company,

Ltd.

15,589

177

AutoZone,

Inc.

a

213,713

390

Dollar

General

Corporation

74,256

1,300

Doutor

Nichires

Holdings

Company,

Ltd.

17,305

62

Hermes

International

50,266

1,049

Home

Depot,

Inc.

278,499

800

Iida

Group

Holdings

Company,

Ltd.

12,382

2,536

McDonald's

Corporation

492,694

4,700

Nissan

Motor

Company,

Ltd.

16,077

700

Oriental

Land

Company,

Ltd.

84,450

2,700

Rinnai

Corporation

221,302

2,800

Saint

Marc

Holdings

Company,

Ltd.

38,674

1,900

Sangetsu

Company,

Ltd.

25,989

1,100

SHIMAMURA

Company,

Ltd.

76,493

2,841

TJX

Companies,

Inc.

147,704

912

Yum!

Brands,

Inc.

83,038

Total

1,908,560

Consumer

Staples

(16.7%)

788

Carlsberg

AS

116,379

1,195

Clorox

Company

282,629

11,373

Coca-Cola

Company

537,261

3,701

Colgate-Palmolive

Company

285,717

575

Hershey

Company

83,611

3,951

Hormel

Foods

Corporation

200,948

18,600

Japan

Tobacco,

Inc.

317,920

487

Kellogg

Company

33,598

377

Kerry

Group

plc

49,932

200

Kobayashi

Pharmaceutical

Company,

Ltd.

17,775

5,357

Koninklijke

Ahold

Delhaize

NV

154,287

600

Kusuri

No

Aoki

Holdings

Company,

Ltd.

55,850

42

Lindt

&

Spruengli

AG

325,157

685

Loblaw

Companies,

Ltd.

35,537

Shares

Common

Stock

(100.2%)

Value

Consumer

Staples

(16.7%)

-

continued

391

McCormick

&

Company,

Inc.

$

76,206

982

Mondelez

International,

Inc.

54,491

4,550

Nestle

SA

541,094

7,614

Orkla

ASA

74,890

4,499

PepsiCo,

Inc.

619,332

4,359

Procter

&

Gamble

Company

571,552

5,600

Seven

&

I

Holdings

Company,

Ltd.

169,229

1,600

Sundrug

Company,

Ltd.

54,450

561

Unilever

NV

33,150

3,465

Wal-Mart

Stores,

Inc.

448,371

200

Welcia

Holdings

Company,

Ltd.

18,327

837

Woolworths,

Ltd.

23,172

Total

5,180,865

Energy

(0.2%)

21,700

Eneos

Holdings,

Inc.

76,093

Total

76,093

Financials

(10.4%)

420

Alleghany

Corporation

219,375

2,123

Allstate

Corporation

200,390

1,337

Aon

plc

274,379

3,094

Arthur

J.

Gallagher

&

Company

332,574

7,600

Ashikaga

Holdings

Company,

Ltd.

16,907

315

Baloise

Holding

AG

48,061

2,306

Berkshire

Hathaway,

Inc.

a

451,469

238

Cboe

Global

Markets,

Inc.

20,873

1,070

Chubb,

Ltd.

136,147

1,302

CI

Financial

Corporation

17,895

715

Cincinnati

Financial

Corporation

55,720

1,067

CME

Group,

Inc.

177,314

842

Deutsche

Boerse

AG

153,197

119

Erie

Indemnity

Company

25,004

2,700

Hang

Seng

Bank,

Ltd.

42,483

297

Intact

Financial

Corporation

32,426

9,561

Israel

Discount

Bank,

Ltd.

29,396

3,700

Japan

Post

Bank

Company,

Ltd.

27,603

105

Markel

Corporation

a

109,677

3,433

Marsh

&

McLennan

Companies,

Inc.

400,288

1,356

Mizrahi

Tefahot

Bank,

Ltd.

28,422

331

RenaissanceRe

Holdings,

Ltd.

59,706

112

St.

Galler

Kantonalbank

AG

50,646

7,416

Toronto-Dominion

Bank

328,154

Total

3,238,106

Health

Care

(15.8%)

703

Abbott

Laboratories

70,750

107

Amgen,

Inc.

26,180

1,508

Baxter

International,

Inc.

130,261

52

Bio-Rad

Laboratories,

Inc.

a

27,294

2,100

Chugai

Pharmaceutical

Company,

Ltd.

94,813

1,006

Coloplast

AS

171,722

1,968

Danaher

Corporation

401,078

1,567

Eli

Lilly

and

Company

235,504

4,611

Gilead

Sciences,

Inc.

320,603

8,221

GlaxoSmithKline

plc

163,765

200

Incyte

Corporation

a

19,752

3,600

Johnson

&

Johnson

524,736

127

Masimo

Corporation

a

27,955

2,749

Medtronic

plc

265,224

5,294

Merck

&

Company,

Inc.

424,791

16

Mettler

-Toledo

International,

Inc.

a

14,960

2,562

Novartis

AG

211,025

4,085

Novo

Nordisk

AS

268,028

Low

Volatility

Equity

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

122

Shares

Common

Stock

(100.2%)

Value

Health

Care

(15.8%)

-

continued

717

Regeneron

Pharmaceuticals,

Inc.

a

$

453,194

1,350

Roche

Holding

AG

467,581

200

Sawai

Pharmaceutical

Company,

Ltd.

9,501

263

Sonova

Holding

AG

a

59,465

599

Stryker

Corporation

115,787

63

Tecan

Group

AG

26,422

2,200

Toho

Holdings

Company,

Ltd.

37,673

567

UnitedHealth

Group,

Inc.

171,676

688

Vertex

Pharmaceuticals,

Inc.

a

187,136

Total

4,926,876

Industrials

(9.2%)

900

All

Nippon

Airways

Company,

Ltd.

18,634

407

AMETEK,

Inc.

37,953

636

Geberit

AG

351,019

566

General

Dynamics

Corporation

83,055

1,349

Honeywell

International,

Inc.

201,500

2,500

Itochu

Enex

Company,

Ltd.

19,636

1,400

Jardine

Matheson

Holdings,

Ltd.

57,288

3,700

Kamigumi

Company,

Ltd.

67,528

600

Keio

Corporation

29,960

2,000

Kintetsu

Group

Holdings

Company,

Ltd.

77,924

666

Lockheed

Martin

Corporation

252,394

1,700

Marubeni

Corporation

7,827

9,500

Mitsubishi

Corporation

191,423

400

Mitsui

&

Company,

Ltd.

5,980

800

Nagoya

Railroad

Company,

Ltd.

20,245

4,900

Nikkon

Holdings

Company,

Ltd.

89,297

448

Otis

Worldwide

Corporation

28,107

6,605

RELX

plc

139,050

5,574

Republic

Services,

Inc.

486,331

900

Sumitomo

Corporation

9,999

2,400

Takasago

Thermal

Engineering

Company,

Ltd.

31,881

1,397

Verisk

Analytics,

Inc.

263,628

818

Waste

Connections,

Inc.

83,739

2,476

Waste

Management,

Inc.

271,370

500

West

Japan

Railway

Company

21,592

Total

2,847,360

Information

Technology

(13.4%)

1,570

Accenture

plc

352,905

506

Adobe,

Inc.

a

224,826

1,727

Amphenol

Corporation

182,648

1,350

Automatic

Data

Processing,

Inc.

179,429

188

Broadridge

Financial

Solutions,

Inc.

25,256

1,100

Canon

Electronics,

Inc.

15,253

8,900

Canon,

Inc.

143,223

3,140

CGI,

Inc.

a

224,274

1,954

Cisco

Systems,

Inc.

92,033

1,359

Citrix

Systems,

Inc.

194,011

661

Fiserv,

Inc.

a

65,961

954

Jack

Henry

&

Associates,

Inc.

170,098

500

Kanematsu

Electronics,

Ltd.

19,192

1,097

Keysight

Technologies,

Inc.

a

109,579

1,222

MasterCard,

Inc.

377,024

1,849

Microsoft

Corporation

379,063

1,589

Motorola

Solutions,

Inc.

222,142

281

Oracle

Corporation

15,581

7,219

Paychex,

Inc.

519,190

1,500

Ryosan

Company,

Ltd.

28,518

916

Synopsys,

Inc.

a

182,486

4,232

Telefonaktiebolaget

LM

Ericsson

49,240

Shares

Common

Stock

(100.2%)

Value

Information

Technology

(13.4%)

-

continued

978

Texas

Instruments,

Inc.

$

124,744

711

Tyler

Technologies,

Inc.

a

254,005

70

Visa,

Inc.

13,328

Total

4,164,009

Materials

(6.2%)

2,470

Agnico

Eagle

Mines,

Ltd.

196,151

12,743

Barrick

Gold

Corporation

368,272

2,230

Franco-Nevada

Corporation

356,465

4,924

Kinross

Gold

Corporation

a

46,138

1,744

Newcrest

Mining,

Ltd.

44,430

7,720

Newmont

Mining

Corporation

534,224

2,100

Nippon

Steel

Trading

Corporation

62,614

21,900

Toray

Industries,

Inc.

94,795

3,864

Wheaton

Precious

Metals

Corporation

209,931

Total

1,913,020

Real

Estate

(5.2%)

591

American

Tower

Corporation

154,481

114,544

Ascendas

REIT

296,493

281

AvalonBay

Communities,

Inc.

43,027

1,724

Camden

Property

Trust

156,556

205

Crown

Castle

International

Corporation

34,174

1,600

Daito

Trust

Construction

Company,

Ltd.

125,476

981

Equity

Residential

52,611

98,300

Mapletree

Commercial

Trust

132,363

162

Public

Storage,

Inc.

32,381

9,735

Quebecor,

Inc.

222,107

3,657

Swiss

Prime

Site

AG

333,751

881

UDR,

Inc.

31,892

Total

1,615,312

Utilities

(6.9%)

952

Ameren

Corporation

76,388

3,010

American

Electric

Power

Company,

Inc.

261,509

5,804

Consolidated

Edison,

Inc.

445,921

2,104

DTE

Energy

Company

243,286

3,715

Duke

Energy

Corporation

314,809

1,069

Enagas

SA

26,970

11,256

Enel

SPA

103,111

19,000

Hong

Kong

and

China

Gas

Company,

Ltd.

27,224

954

NextEra

Energy,

Inc.

267,788

1,817

Southern

Company

99,226

769

WEC

Energy

Group,

Inc.

73,255

2,923

Xcel

Energy,

Inc.

201,804

Total

2,141,291

Total

Common

Stock

(cost

$29,323,779)

31,157,071

Low

Volatility

Equity

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

123

Shares

or

Principal

Amount

Short-Term

Investments

(

0.3%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

100,000

0.150%,

8/19/2020

c,d

$

99,997

Total

Short-Term

Investments

(cost

$99,992)

99,997

Total

Investments

(cost

$29,423,771)

100.5%

$31,257,068

Other

Assets

and

Liabilities,

Net

(0.5%)

(161,667)

Total

Net

Assets

100.0%

$31,095,401

a

Non-income

producing

security.

b

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$12,679

or

0.0%

of

total

net

assets.

c

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

d

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

Definitions:

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Low

Volatility

Equity

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

124

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Low

Volatility

Equity

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

3,145,579

867,262

2,278,317

–

Consumer

Discretionary

1,908,560

1,350,033

558,527

–

Consumer

Staples

5,180,865

3,193,716

1,987,149

–

Energy

76,093

–

76,093

–

Financials

3,238,106

2,462,916

775,190

–

Health

Care

4,926,876

3,416,881

1,509,995

–

Industrials

2,847,360

1,708,077

1,139,283

–

Information

Technology

4,164,009

3,684,309

479,700

–

Materials

1,913,020

1,146,758

766,262

–

Real

Estate

1,615,312

505,122

1,110,190

–

Utilities

2,141,291

1,983,986

157,305

–

Short-Term

Investments

99,997

–

99,997

–

Subtotal

Investments

in

Securities

$31,257,068

$20,319,060

$10,938,008

$–

Total

Investments

at

Value

$31,257,068

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Low

Volatility

Equity

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

–%

$521

$9,007

$9,529

$–

–

–%

Total

Affiliated

Short-Term

Investments

521

–

–

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

695

695

–

–

–

Total

Collateral

Held

for

Securities

Loaned

–

–

–

Total

Value

$521

$–

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

–%

$1

$–

$0

$4

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$4

Cash

Management

Trust-

Collateral

Investment  

–

–

–

0

Total

Affiliated

Income

from

Securities

Loaned,

Net

$0

Total

$1

$–

$0

Mid

Cap

Growth

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

125

Shares

Common

Stock

(

99.0%

)

Value

Communications

Services

(3.8%)

1,604

Live

Nation

Entertainment,

Inc.

a

$

75,083

348

RingCentral,

Inc.

a

101,014

356

Take-Two

Interactive

Software,

Inc.

a

58,391

Total

234,488

Consumer

Discretionary

(13.1%)

866

Aptiv

plc

67,332

221

Bright

Horizons

Family

Solutions,

Inc.

a

23,700

447

Burlington

Stores,

Inc.

a

84,036

954

Chewy,

Inc.

a

50,075

85

Chipotle

Mexican

Grill,

Inc.

a

98,189

223

Domino's

Pizza,

Inc.

86,214

765

Five

Below,

Inc.

a

83,316

20

NVR,

Inc.

a

78,603

561

Ollie's

Bargain

Outlet

Holdings,

Inc.

a

58,961

1,381

Planet

Fitness,

Inc.

a

72,088

299

TopBuild

Corporation

a

39,444

337

Ulta

Beauty,

Inc.

a

65,038

Total

806,996

Consumer

Staples

(1.7%)

324

Casey's

General

Stores,

Inc.

51,577

660

Monster

Beverage

Corporation

a

51,797

Total

103,374

Energy

(0.5%)

519

Concho

Resources,

Inc.

27,268

Total

27,268

Financials

(5.4%)

539

Arthur

J.

Gallagher

&

Company

57,937

385

First

Republic

Bank

43,305

800

Interactive

Brokers

Group,

Inc.

39,680

237

MSCI,

Inc.

89,107

711

Raymond

James

Financial,

Inc.

49,400

231

SVB

Financial

Group

a

51,807

Total

331,236

Health

Care

(22.2%)

1,386

ACADIA

Pharmaceuticals,

Inc.

a

57,616

385

Agilent

Technologies,

Inc.

37,087

607

Agios

Pharmaceuticals,

Inc.

a

27,509

106

Argenx

SE

ADR

a

24,394

336

Biohaven

Pharmaceutical

Holding

Company,

Ltd.

a

21,518

277

Bio-

Techne

Corporation

76,219

1,226

Catalent

,

Inc.

a

107,079

321

Dexcom

,

Inc.

a

139,808

212

Global

Blood

Therapeutics,

Inc.

a

14,306

1,154

Guardant

Health,

Inc.

a

98,298

431

Insulet

Corporation

a

87,648

649

LHC

Group,

Inc.

a

126,626

272

MyoKardia

,

Inc.

a

24,515

577

Nevro

Corporation

a

76,718

549

PRA

Health

Sciences,

Inc.

a

58,502

194

Sarepta

Therapeutics,

Inc.

a

29,783

243

Teleflex,

Inc.

90,663

554

Veeva

Systems,

Inc.

a

146,572

812

Zoetis,

Inc.

123,164

Total

1,368,025

Industrials

(14.3%)

1,190

A.O.

Smith

Corporation

57,287

Shares

Common

Stock

(99.0%)

Value

Industrials

(14.3%)

-

continued

805

ASGN,

Inc.

a

$

55,110

1,014

BWX

Technologies,

Inc.

55,283

532

Copart

,

Inc.

a

49,609

282

Generac

Holdings,

Inc.

a

44,438

687

IDEX

Corporation

113,231

172

Nordson

Corporation

33,304

503

Old

Dominion

Freight

Line,

Inc.

91,959

260

Roper

Industries,

Inc.

112,437

1,773

Southwest

Airlines

Company

54,768

433

Toro

Company

30,895

371

Trex

Company,

Inc.

a

51,691

813

United

Rentals,

Inc.

a

126,316

Total

876,328

Information

Technology

(30.4%)

176

Akamai

Technologies,

Inc.

a

19,790

857

Amphenol

Corporation

90,636

1,023

Anaplan,

Inc.

a

46,454

357

Atlassian

Corporation

plc

a

63,064

366

Coupa

Software,

Inc.

a

112,161

708

DocuSign,

Inc.

a

153,516

1,446

Elastic

NV

a

139,091

120

EPAM

Systems,

Inc.

a

34,810

616

Euronet

Worldwide,

Inc.

a

59,222

722

Global

Payments,

Inc.

128,530

492

Guidewire

Software,

Inc.

a

57,889

248

Lam

Research

Corporation

93,536

734

Lumentum

Holdings,

Inc.

a

68,137

529

MKS

Instruments,

Inc.

67,416

509

Monolithic

Power

Systems,

Inc.

134,890

316

Nice,

Ltd.

ADR

a

64,856

374

Palo

Alto

Networks,

Inc.

a

95,714

391

ServiceNow

,

Inc.

a

171,727

2,759

STMicroelectronics

NV

ADR

77,087

342

Synopsys,

Inc.

a

68,133

312

WEX,

Inc.

a

49,411

584

Zscaler

,

Inc.

a

75,832

Total

1,871,902

Materials

(2.1%)

484

Martin

Marietta

Materials,

Inc.

100,275

159

Quaker

Chemical

Corporation

30,846

Total

131,121

Real

Estate

(5.5%)

321

Camden

Property

Trust

29,150

1,732

CBRE

Group,

Inc.

a

75,879

167

CoStar

Group,

Inc.

a

141,910

275

Equity

Lifestyle

Properties,

Inc.

18,788

231

SBA

Communications

Corporation

71,966

Total

337,693

Total

Common

Stock

(cost

$4,952,975)

6,088,431

Shares

Short-Term

Investments

(

0.

9

%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

5,302

0.500%

53,072

Total

Short-Term

Investments

(cost

$53,072)

53,072

Total

Investments

(cost

$5,006,047)

99.8%

$6,141,503

Other

Assets

and

Liabilities,

Net

0.2%

10,270

Total

Net

Assets

100.0%

$6,151,773

Mid

Cap

Growth

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

126

a

Non-income

producing

security.

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Mid

Cap

Growth

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

234,488

234,488

–

–

Consumer

Discretionary

806,996

806,996

–

–

Consumer

Staples

103,374

103,374

–

–

Energy

27,268

27,268

–

–

Financials

331,236

331,236

–

–

Health

Care

1,368,025

1,368,025

–

–

Industrials

876,328

876,328

–

–

Information

Technology

1,871,902

1,871,902

–

–

Materials

131,121

131,121

–

–

Real

Estate

337,693

337,693

–

–

Subtotal

Investments

in

Securities

$6,088,431

$6,088,431

$–

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

53,072

Subtotal

Other

Investments

$53,072

Total

Investments

at

Value

$6,141,503

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

 The

Fund

owns

shares

of

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities. 

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Mid

Cap

Growth

Fund,

is

as

follows:

Fund

Value

2/28/2020

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$—

$2,890

$2,837

$53

5

0.9%

Total

Affiliated

Short-Term

Investments

—

53

0.9

Total

Value

$—

$53

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

2/28/2020

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$0

$–

$–

$1

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$1

Total

$0

$–

$–

Mid

Cap

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

127

Shares

Common

Stock

(

97.1%

)

Value

Communications

Services

(5.2%)

958,847

DISH

Network

Corporation

a

$

30,788,577

955,278

Twitter,

Inc.

a

34,772,119

727,917

Zillow

Group,

Inc.

a

49,563,869

Total

115,124,565

Consumer

Discretionary

(13.8%)

342,037

Aptiv

plc

26,593,377

160,146

Burlington

Stores,

Inc.

a

30,107,448

469,462

Etsy,

Inc.

a

55,574,912

205,404

Lululemon

Athletica

,

Inc.

a

66,877,488

16,987

NVR,

Inc.

a

66,761,458

209,293

RH

a,b

60,157,087

Total

306,071,770

Consumer

Staples

(2.4%)

1,593,346

Hain

Celestial

Group,

Inc.

a

54,141,897

Total

54,141,897

Energy

(2.1%)

329,390

Valero

Energy

Corporation

18,521,600

4,777,115

WPX

Energy,

Inc.

a

28,519,376

Total

47,040,976

Financials

(13.8%)

1,715,102

Ally

Financial,

Inc.

34,473,550

1,434,237

Assured

Guaranty,

Ltd.

31,309,394

440,740

Hartford

Financial

Services

Group,

Inc.

18,652,117

512,513

Interactive

Brokers

Group,

Inc.

25,420,645

292,983

Kemper

Corporation

23,005,025

2,862,420

KeyCorp

34,377,664

44,588

Markel

Corporation

a

46,573,949

1,375,204

Radian

Group,

Inc.

20,518,044

944,196

Western

Alliance

Bancorp

33,943,846

1,147,212

Zions

Bancorporations

NA

37,249,974

Total

305,524,208

Health

Care

(9.7%)

221,300

Alexion

Pharmaceuticals,

Inc.

a

22,681,037

185,566

Align

Technology,

Inc.

a

54,523,002

1,100,748

Bausch

Health

Companies,

Inc.

a

20,110,666

336,995

Catalent

,

Inc.

a

29,433,144

436,332

Edwards

Lifesciences

Corporation

a

34,212,792

227,180

Jazz

Pharmaceuticals,

Inc.

a

24,592,235

257,599

Universal

Health

Services,

Inc.

28,310,130

Total

213,863,006

Industrials

(13.3%)

487,770

AGCO

Corporation

32,012,345

1,162,667

Altra

Industrial

Motion

Corporation

39,798,092

314,920

Heico

Corporation

30,270,110

156,673

Huntington

Ingalls

Industries,

Inc.

27,215,667

243,159

Old

Dominion

Freight

Line,

Inc.

44,454,328

119,281

Rockwell

Automation,

Inc.

26,019,957

1,351,877

Southwest

Airlines

Company

41,759,481

342,130

United

Rentals,

Inc.

a

53,156,738

Total

294,686,718

Information

Technology

(19.9%)

679,299

Advanced

Micro

Devices,

Inc.

a

52,598,122

499,814

Akamai

Technologies,

Inc.

a

56,199,086

540,236

Alliance

Data

Systems

Corporation

23,964,869

159,234

ANSYS,

Inc.

a

49,458,080

602,710

Ciena

Corporation

a

35,867,272

1,432,984

Dropbox,

Inc.

a

32,600,386

Shares

Common

Stock

(97.1%)

Value

Information

Technology

(19.9%)

-

continued

200,571

KLA-Tencor

Corporation

$

40,080,103

150,277

Nice,

Ltd.

ADR

a

30,842,852

2,445,991

Nuance

Communications,

Inc.

a

66,897,854

593,464

Teradyne,

Inc.

52,794,557

Total

441,303,181

Materials

(3.2%)

590,356

Ball

Corporation

43,467,913

974,186

Steel

Dynamics,

Inc.

26,702,438

Total

70,170,351

Real

Estate

(8.2%)

231,408

Alexandria

Real

Estate

Equities,

Inc.

41,086,490

376,287

Camden

Property

Trust

34,170,623

184,924

Digital

Realty

Trust,

Inc.

29,687,699

690,966

Douglas

Emmett,

Inc.

20,134,749

953,744

Duke

Realty

Corporation

38,330,971

1,697,286

Host

Hotels

&

Resorts,

Inc.

18,296,743

Total

181,707,275

Utilities

(5.5%)

494,993

Alliant

Energy

Corporation

26,655,373

1,367,980

CenterPoint

Energy,

Inc.

26,005,300

414,381

CMS

Energy

Corporation

26,594,972

406,444

Entergy

Corporation

42,729,458

Total

121,985,103

Total

Common

Stock

(cost

$1,645,631,250)

2,151,619,050

Shares

Collateral

Held

for

Securities

Loaned

(

1.1%

)

Value

24,260,550

Thrivent

Cash

Management

Trust

24,260,550

Total

Collateral

Held

for

Securities

Loaned

(cost

$24,260,550)

24,260,550

Shares

Short-Term

Investments

(

3.0%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

6,702,161

0.500%

67,088,636

Total

Short-Term

Investments

(cost

$67,019,144)

67,088,636

Total

Investments

(cost

$1,736,910,944)

101.2%

$2,242,968,236

Other

Assets

and

Liabilities,

Net

(1.2%)

(26,385,140)

Total

Net

Assets

100.0%

$2,216,583,096

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

Mid

Cap

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

128

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Mid

Cap

Stock

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Common

Stock

$

23,598,003

Total

lending

$23,598,003

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$24,260,550

Net

amounts

due

to

counterparty

$662,547

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Mid

Cap

Stock

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

115,124,565

115,124,565

–

–

Consumer

Discretionary

306,071,770

306,071,770

–

–

Consumer

Staples

54,141,897

54,141,897

–

–

Energy

47,040,976

47,040,976

–

–

Financials

305,524,208

305,524,208

–

–

Health

Care

213,863,006

213,863,006

–

–

Industrials

294,686,718

294,686,718

–

–

Information

Technology

441,303,181

441,303,181

–

–

Materials

70,170,351

70,170,351

–

–

Real

Estate

181,707,275

181,707,275

–

–

Utilities

121,985,103

121,985,103

–

–

Subtotal

Investments

in

Securities

$2,151,619,050

$2,151,619,050

$–

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

67,088,636

Collateral

Held

for

Securities

Loaned

24,260,550

Subtotal

Other

Investments

$91,349,186

Total

Investments

at

Value

$2,242,968,236

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Mid

Cap

Stock

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$78,794

$219,602

$231,268

$67,089

6,702

3.0%

Total

Affiliated

Short-Term

Investments

78,794

67,089

3.0

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

53,203

425,953

454,895

24,261

24,261

1.1

Total

Collateral

Held

for

Securities

Loaned

53,203

24,261

1.1

Total

Value

$131,997

$91,350

Mid

Cap

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

129

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(108)

$69

$1

$991

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$991

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

133

Total

Affiliated

Income

from

Securities

Loaned,

Net

$133

Total

$(108)

$69

$1

Mid

Cap

Value

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

130

Shares

Common

Stock

(

97.6%

)

Value

Communications

Services

(3.8%)

4,105

Discovery,

Inc.,

Class

A

a

$

86,616

5,566

Interpublic

Group

of

Companies,

Inc.

100,466

Total

187,082

Consumer

Discretionary

(10.3%)

1,383

Aptiv

plc

107,528

873

Dollar

Tree,

Inc.

a

81,494

1,467

eBay,

Inc.

81,096

532

Mohawk

Industries,

Inc.

a

42,480

1,011

Polaris,

Inc.

104,770

1,661

Texas

Roadhouse,

Inc.

93,332

Total

510,700

Consumer

Staples

(5.9%)

5,942

Albertsons

Companies,

Inc.

a

88,298

820

Church

&

Dwight

Company,

Inc.

78,991

2,209

Hain

Celestial

Group,

Inc.

a

75,062

965

Sysco

Corporation

51,000

Total

293,351

Energy

(4.9%)

3,882

Helmerich

&

Payne,

Inc.

69,216

1,867

Marathon

Petroleum

Corporation

71,319

1,038

Pioneer

Natural

Resources

Company

100,603

Total

241,138

Financials

(19.3%)

1,458

Capital

One

Financial

Corporation

93,020

1,303

Comerica,

Inc.

50,191

3,121

Hartford

Financial

Services

Group,

Inc.

132,081

665

Kemper

Corporation

52,216

1,343

Raymond

James

Financial,

Inc.

93,312

1,797

Selective

Insurance

Group,

Inc.

97,649

3,380

Trustmark

Corporation

76,118

2,918

Voya

Financial,

Inc.

144,149

2,865

Wintrust

Financial

Corporation

122,622

2,876

Zions

Bancorporations

NA

93,384

Total

954,742

Health

Care

(8.3%)

2,821

Acadia

Healthcare

Company,

Inc.

a

84,094

601

Alexion

Pharmaceuticals,

Inc.

a

61,596

1,747

Centene

Corporation

a

113,992

1,138

Zimmer

Biomet

Holdings,

Inc.

153,471

Total

413,153

Industrials

(12.5%)

1,019

A.O.

Smith

Corporation

49,055

1,806

AGCO

Corporation

118,528

982

Carlisle

Companies,

Inc.

116,936

365

JB

Hunt

Transport

Services,

Inc.

47,231

487

Lincoln

Electric

Holdings,

Inc.

44,020

1,886

Robert

Half

International,

Inc.

95,941

3,293

Southwest

Airlines

Company

101,721

129

W.W.

Grainger,

Inc.

44,057

Total

617,489

Information

Technology

(10.9%)

4,403

Change

Healthcare,

Inc.

a

51,339

2,582

Juniper

Networks,

Inc.

65,531

334

Littelfuse

,

Inc.

59,335

2,627

National

Instruments

Corporation

93,258

3,261

ON

Semiconductor

Corporation

a

67,177

Shares

Common

Stock

(97.6%)

Value

Information

Technology

(10.9%)

-

continued

1,339

PTC,

Inc.

a

$

114,565

2,128

Western

Digital

Corporation

91,717

Total

542,922

Materials

(8.4%)

4,635

Axalta

Coating

Systems,

Ltd.

a

102,897

2,269

Berry

Plastics

Group,

Inc.

a

113,427

3,052

CF

Industries

Holdings,

Inc.

95,619

603

Eastman

Chemical

Company

45,002

1,421

Nucor

Corporation

59,611

Total

416,556

Real

Estate

(7.6%)

686

Camden

Property

Trust

62,296

2,501

CBRE

Group,

Inc.

a

109,569

1,945

Highwoods

Properties,

Inc.

74,571

7,056

Host

Hotels

&

Resorts,

Inc.

76,064

2,018

Rayonier,

Inc.

REIT

56,060

Total

378,560

Utilities

(5.7%)

4,976

CenterPoint

Energy,

Inc.

94,594

1,672

FirstEnergy

Corporation

48,488

1,665

PNM

Resources,

Inc.

70,313

1,621

Portland

General

Electric

Company

71,534

Total

284,929

Total

Common

Stock

(cost

$4,778,116)

4,840,622

Shares

Registered

Investment

Companies

(

0.5%

)

Value

Unaffiliated  (0.5%)

643

Fidelity

US

Utilities

ETF

25,167

Total

25,167

Total

Registered

Investment

Companies

(cost

$24,910)

25,167

Shares

Short-Term

Investments

(

2.0%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

9,676

0.500%

96,860

Total

Short-Term

Investments

(cost

$96,644)

96,860

Total

Investments

(cost

$4,899,670)

100.1%

$4,962,649

Other

Assets

and

Liabilities,

Net

(0.1%)

(2,882)

Total

Net

Assets

100.0%

$4,959,767

a

Non-income

producing

security.

Definitions:

ETF

-

Exchange

Traded

Fund

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Mid

Cap

Value

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

131

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Mid

Cap

Value

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

187,082

187,082

–

–

Consumer

Discretionary

510,700

510,700

–

–

Consumer

Staples

293,351

293,351

–

–

Energy

241,138

241,138

–

–

Financials

954,742

954,742

–

–

Health

Care

413,153

413,153

–

–

Industrials

617,489

617,489

–

–

Information

Technology

542,922

542,922

–

–

Materials

416,556

416,556

–

–

Real

Estate

378,560

378,560

–

–

Utilities

284,929

284,929

–

–

Registered

Investment

Companies

Unaffiliated

25,167

25,167

–

–

Subtotal

Investments

in

Securities

$4,865,789

$4,865,789

$–

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

96,860

Subtotal

Other

Investments

$96,860

Total

Investments

at

Value

$4,962,649

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

 The

Fund

owns

shares

of

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities. 

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Mid

Cap

Value

Fund,

is

as

follows:

Fund

Value

2/28/2020

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$—

$1,919

$1,822

$97

10

2.0%

Total

Affiliated

Short-Term

Investments

—

97

2.0

Total

Value

$—

$97

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

2/28/2020

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$0

$0

$–

$1

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$1

Total

$0

$0

$–

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

132

Principal

Amount

Bank

Loans

(

1.5%

)

a

Value

Basic

Materials

(0.1%)

Ball

Metalpack

Finco,

LLC,

Term

Loan

$

161,700

4.863%, 

(LIBOR

3M

+

4.500%),

7/31/2025

b

$

151,189

Big

River

Steel,

LLC,

Term

Loan

262,575

6.000%, 

(LIBOR

3M

+

5.000%),

8/23/2023

b

249,446

Chemours

Company,

Term

Loan

268,750

1.920%, 

(LIBOR

1M

+

1.750%),

4/3/2025

b

254,305

Hexion,

Inc.,

Term

Loan

229,421

3.800%, 

(LIBOR

3M

+

3.500%),

7/1/2026

b

224,259

Innophos

Holdings,

Inc.,

Term

Loan

224,437

3.911%, 

(LIBOR

1M

+

3.750%),

2/7/2027

b,c

221,351

Momentive

Performance

Materials

USA,

LLC,

Term

Loan

222,750

3.420%, 

(LIBOR

1M

+

3.250%),

5/15/2024

b

208,643

MRC

Global

(US),

Inc.,

Term

Loan

134,676

3.161%, 

(LIBOR

1M

+

3.000%),

9/22/2024

b,c

125,922

Nouryon

USA,

LLC,

Term

Loan

453,010

3.178%, 

(LIBOR

1M

+

3.000%),

10/1/2025

b,d,e

437,408

Peabody

Energy

Corporation,

Term

Loan

278,587

2.911%, 

(LIBOR

1M

+

2.750%),

3/31/2025

b

143,473

Pixelle

Specialty

Solutions,

LLC,

Term

Loan

445,306

7.500%, 

(LIBOR

1M

+

6.500%),

10/31/2024

b

428,050

PQ

Corporation,

Term

Loan

245,000

0.000%, 

(LIBOR

1M

+

3.000%),

2/7/2027

b,d,e

243,317

Total

2,687,363

Capital

Goods

(0.2%)

Advanced

Disposal

Services,

Inc.,

Term

Loan

219,036

3.000%, 

(LIBOR

1W

+

2.250%),

11/10/2023

b

217,531

Flex

Acquisition

Company,

Inc.

Term

Loan

459,652

3.546%, 

(LIBOR

3M

+

3.250%),

6/29/2025

b

436,453

GFL

Environmental,

Inc.,

Term

Loan

701,138

4.000%, 

(LIBOR

3M

+

3.000%),

5/31/2025

b

696,953

Graham

Packaging

Company,

Inc.,

Term

Loan

225,000

0.000%, 

(LIBOR

1M

+

3.750%),

7/28/2027

b,d,e

224,316

Mauser

Packaging

Solutions

Holding

Company,

Term

Loan

327,468

3.523%, 

(LIBOR

3M

+

3.250%),

4/3/2024

b

305,118

Navistar,

Inc.,

Term

Loan

458,250

3.690%, 

(LIBOR

1M

+

3.500%),

11/6/2024

b

442,592

Principal

Amount

Bank

Loans

(1.5%)

a

Value

Capital

Goods

(0.2%)

-

continued

Reynolds

Group

Holdings,

Inc.,

Term

Loan

$

832,137

2.911%, 

(LIBOR

1M

+

2.750%),

2/5/2023

b

$

814,313

TransDigm,

Inc.,

Term

Loan

800,975

2.411%, 

(LIBOR

1M

+

2.250%),

12/9/2025

b

748,767

Vertiv

Group

Corporation,

Term

Loan

763,088

3.162%, 

(LIBOR

1M

+

3.000%),

3/2/2027

b

744,964

Total

4,631,007

Communications

Services

(0.3%)

Altice

France

SA,

Term

Loan

188,662

2.911%, 

(LIBOR

1M

+

2.750%),

7/31/2025

b

180,314

CenturyLink,

Inc.,

Term

Loan

809,175

2.411%, 

(LIBOR

1M

+

2.250%),

3/15/2027

b

778,046

Charter

Communications

Operating,

LLC,

Term

Loan

1,009,821

1.920%, 

(LIBOR

1M

+

1.750%),

4/30/2025

b

987,100

CommScope,

Inc.,

Term

Loan

318,500

3.411%, 

(LIBOR

1M

+

3.250%),

4/4/2026

b,d,e

311,334

Coral-US

Co-Borrower,

LLC,

Term

Loan

940,000

2.411%, 

(LIBOR

1M

+

2.250%),

1/31/2028

b

902,400

Diamond

Sports

Group,

LLC,

Term

Loan

686,695

3.420%, 

(LIBOR

1M

+

3.250%),

8/24/2026

b

546,781

Entercom

Media

Corporation,

Term

Loan

339,862

2.673%, 

(LIBOR

1M

+

2.500%),

11/17/2024

b

320,744

Gray

Television,

Inc.,

Term

Loan

205,000

2.421%, 

(LIBOR

1M

+

2.250%),

2/7/2024

b

199,020

HCP

Acquisition,

LLC,

Term

Loan

458,408

4.000%, 

(LIBOR

1M

+

3.000%),

5/16/2024

b

447,864

iHeartCommunications,

Inc.,

Term

Loan

264,336

3.161%, 

(LIBOR

1M

+

3.000%),

5/1/2026

b

246,861

Mediacom

Illinois,

LLC,

Term

Loan

138,790

1.870%, 

(LIBOR

1W

+

1.750%),

2/15/2024

b,c

137,749

NEP

Group,

Inc.,

Term

Loan

330,224

3.411%, 

(LIBOR

1M

+

3.250%),

10/20/2025

b

271,920

40,000

7.161%, 

(LIBOR

1M

+

7.000%),

10/19/2026

b

29,480

Nexstar

Broadcasting,

Inc.,

Term

Loan

565,000

2.921%, 

(LIBOR

1M

+

2.750%),

9/19/2026

b,d,e

549,112

Nielsen

Finance,

LLC,

Term

Loan

184,537

4.750%, 

(LIBOR

1M

+

3.750%),

6/4/2025

b

184,538

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

133

Principal

Amount

Bank

Loans

(1.5%)

a

Value

Communications

Services

(0.3%)

-

continued

SBA

Senior

Finance

II,

LLC,

Term

Loan

$

407,113

1.920%, 

(LIBOR

1M

+

1.750%),

4/11/2025

b

$

394,484

Terrier

Media

Buyer,

Inc.,

Term

Loan

278,600

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

271,186

145,000

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

140,198

T-Mobile

USA,

Inc.,

Term

Loan

565,000

3.161%, 

(LIBOR

1M

+

3.000%),

4/1/2027

b

566,814

TNS,

Inc.,

Term

Loan

546,091

4.170%, 

(LIBOR

1M

+

4.000%),

8/14/2022

b

529,708

WideOpenWest

Finance,

LLC,

Term

Loan

562,479

4.250%, 

(LIBOR

1M

+

3.250%),

8/19/2023

b

552,917

Windstream

Services,

LLC,

Term

Loan

50,000

2.670%, 

(LIBOR

1M

+

2.500%),

2/26/2021

b

48,958

342,487

0.000%, 

(PRIME

+

5.000%),

3/30/2021

b,f

204,715

Xplornet

Communications,

Inc.,

Term

Loan

290,000

4.911%, 

(LIBOR

1M

+

4.750%),

6/11/2027

b

282,115

Ziggo

Financing

Partnership,

Term

Loan

500,000

2.675%, 

(LIBOR

1M

+

2.500%),

4/30/2028

b

479,555

Total

9,563,913

Consumer

Cyclical

(0.2%)

Cengage

Learning,

Inc.,

Term

Loan

429,232

5.250%, 

(LIBOR

3M

+

4.250%),

6/7/2023

b

347,322

Four

Seasons

Hotels,

Ltd.,

Term

Loan

341,162

2.161%, 

(LIBOR

1M

+

2.000%),

11/30/2023

b

328,430

Golden

Entertainment,

Inc.,

Term

Loan

651,375

3.750%, 

(LIBOR

1M

+

3.000%),

10/20/2024

b

591,937

Golden

Nugget,

LLC,

Term

Loan

760,732

3.250%, 

(LIBOR

1M

+

2.500%),

10/4/2023

b

634,625

LCPR

Loan

Financing,

LLC,

Term

Loan

745,000

5.175%, 

(LIBOR

1M

+

5.000%),

10/15/2026

b

746,863

Mohegan

Gaming

and

Entertainment,

Term

Loan

269,461

5.375%, 

(LIBOR

3M

+

4.375%),

10/13/2023

b

224,038

Penn

National

Gaming,

Inc.,

Term

Loan

246,250

3.000%, 

(LIBOR

3M

+

2.250%),

10/15/2025

b

234,169

Principal

Amount

Bank

Loans

(1.5%)

a

Value

Consumer

Cyclical

(0.2%)

-

continued

Scientific

Games

International,

Inc.,

Term

Loan

$

1,209,355

3.473%, 

(LIBOR

1M

+

2.750%),

8/14/2024

b

$

1,098,783

Staples,

Inc.,

Term

Loan

130,433

5.187%, 

(LIBOR

3M

+

4.500%),

9/12/2024

b,d,e

116,058

455,076

5.687%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b,d,e

390,482

Stars

Group

Holdings

BV,

Term

Loan

399,171

3.808%, 

(LIBOR

3M

+

3.500%),

7/10/2025

b

398,896

Tenneco,

Inc.,

Term

Loan

222,996

3.161%, 

(LIBOR

1M

+

3.000%),

10/1/2025

b

192,682

Wyndham

Hotels

&

Resorts,

Inc.,

Term

Loan

240,712

1.911%, 

(LIBOR

1M

+

1.750%),

5/30/2025

b

228,927

Total

5,533,212

Consumer

Non-Cyclical

(0.3%)

Aramark

Services,

Inc.,

Term

Loan

565,000

1.911%, 

(LIBOR

1M

+

1.750%),

3/11/2025

b

536,044

Bausch

Health

Americas,

Inc.,

Term

Loan

628,315

3.176%, 

(LIBOR

1M

+

3.000%),

6/1/2025

b

617,420

Bellring

Brands,

LLC,

Term

Loan

138,228

6.000%, 

(LIBOR

1M

+

5.000%),

10/21/2024

b,d,e

138,573

Change

Healthcare

Holdings,

LLC,

Term

Loan

275,000

3.500%, 

(LIBOR

1M

+

2.500%),

3/1/2024

b

268,659

Chobani,

LLC,

Term

Loan

355,400

4.500%, 

(LIBOR

1M

+

3.500%),

10/10/2023

b

351,647

Dole

Food

Company,

Inc.,

Term

Loan

333,154

3.750%, 

(LIBOR

1M

+

2.750%),

4/6/2024

b,d,e

324,229

Endo

International

plc,

Term

Loan

379,681

5.000%, 

(LIBOR

3M

+

4.250%),

4/27/2024

b

362,467

Energizer

Holdings,

Inc.,

Term

Loan

159,885

2.438%, 

(LIBOR

1M

+

2.250%),

12/17/2025

b

158,286

Global

Medical

Response,

Inc.,

Term

Loan

1,120,027

4.250%, 

(LIBOR

3M

+

3.250%),

4/28/2022

b

1,105,097

102,375

5.250%, 

(LIBOR

3M

+

4.250%),

3/14/2025

b

99,617

IQVIA,

Inc.,

Term

Loan

129,667

1.911%, 

(LIBOR

1M

+

1.750%),

1/1/2025

b

127,008

JBS

USA

LUX

SA,

Term

Loan

565,703

3.072%, 

(LIBOR

3M

+

2.000%),

5/1/2026

b

545,259

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

134

Principal

Amount

Bank

Loans

(1.5%)

a

Value

Consumer

Non-Cyclical

(0.3%)

-

continued

MPH

Acquisition

Holdings,

LLC,

Term

Loan

$

960,000

3.750%, 

(LIBOR

3M

+

2.750%),

6/7/2023

b

$

944,198

Ortho-Clinical

Diagnostics

SA,

Term

Loan

980,219

3.416%, 

(LIBOR

1M

+

3.250%),

6/30/2025

b

952,037

Plantronics,

Inc.,

Term

Loan

266,445

2.780%, 

(LIBOR

3M

+

2.500%),

7/2/2025

b

244,426

R.R.

Donnelley

&

Sons

Company,

Term

Loan

59,397

5.161%, 

(LIBOR

1M

+

5.000%),

1/15/2024

b

55,239

Sotera

Health

Holdings,

LLC,

Term

Loan

299,250

5.500%, 

(LIBOR

1M

+

4.500%),

12/13/2026

b

298,128

US

Foods,

Inc.,

Term

Loan

184,519

1.911%, 

(LIBOR

1M

+

1.750%),

6/27/2023

b

174,602

Total

7,302,936

Energy

(0.1%)

BCP

Raptor

II,

LLC,

Term

Loan

297,000

4.911%, 

(LIBOR

1M

+

4.750%),

11/3/2025

b

186,516

Buckeye

Partners,

LP,

Term

Loan

493,762

2.921%, 

(LIBOR

1M

+

2.750%),

11/1/2026

b

481,883

Calpine

Corporation,

Term

Loan

354,732

2.420%, 

(LIBOR

1M

+

2.250%),

1/15/2024

b

346,824

CONSOL

Energy,

Inc.,

Term

Loan

286,375

4.670%, 

(LIBOR

1M

+

4.500%),

9/28/2024

b

231,726

Fieldwood

Energy,

LLC,

Term

Loan

375,000

6.250%, 

(LIBOR

3M

+

5.250%),

4/11/2022

b

85,624

Illuminate

Buyer,

LLC,

Term

Loan

255,000

4.308%, 

(LIBOR

3M

+

4.000%),

6/30/2027

b

251,940

Radiate

Holdco,

LLC,

Term

Loan

955,326

3.750%, 

(LIBOR

1M

+

3.000%),

2/1/2024

b

935,952

Total

2,520,465

Financials

(0.1%)

Avolon

TLB

Borrower

1

US,

LLC,

Term

Loan

220,970

2.500%, 

(LIBOR

1M

+

1.750%),

1/15/2025

b

210,308

Blackstone

CQP

Holdco,

LP,

Term

Loan

237,600

3.806%, 

(LIBOR

3M

+

3.500%),

9/30/2024

b

230,719

Delos

Finance

SARL,

Term

Loan

230,000

2.058%, 

(LIBOR

3M

+

1.750%),

10/6/2023

b

221,778

GGP

Nimbus,

LLC,

Term

Loan

425,368

2.661%, 

(LIBOR

1M

+

2.500%),

8/24/2025

b

345,611

Principal

Amount

Bank

Loans

(1.5%)

a

Value

Financials

(0.1%)

-

continued

INEOS

U.S.

Finance,

LLC,

Term

Loan

$

184,527

2.214%, 

(LIBOR

2M

+

2.000%),

3/31/2024

b

$

177,376

Lealand

Finance

Company

BV,

Term

Loan

93,799

4.167%, 

(LIBOR

1M

+

4.000%),

6/30/2025

b

74,414

Level

3

Financing,

Inc.,

Term

Loan

475,000

1.911%, 

(LIBOR

1M

+

1.750%),

3/1/2027

b

459,662

MoneyGram

International,

Inc.,

Term

Loan

267,352

7.000%, 

(LIBOR

3M

+

6.000%),

6/30/2023

b

252,648

Northriver

Midstream

Finance,

LP,

Term

Loan

387,045

3.552%, 

(LIBOR

3M

+

3.250%),

10/1/2025

b

369,389

Tronox

Finance,

LLC,

Term

Loan

510,146

2.972%, 

(LIBOR

3M

+

2.750%),

9/22/2024

b

495,800

Vericast

Corporation,

Term

Loan

549,360

5.750%, 

(LIBOR

3M

+

4.750%),

11/3/2023

b

381,690

Total

3,219,395

Technology

(0.1%)

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

676,421

3.761%, 

(LIBOR

2M

+

3.500%),

8/21/2026

b

600,324

Prime

Security

Services

Borrower,

LLC,

Term

Loan

1,101,000

4.250%, 

(LIBOR

1M

+

3.250%),

9/23/2026

b,d,e

1,080,753

Rackspace

Hosting,

Inc.,

Term

Loan

995,608

4.000%, 

(LIBOR

2M

+

3.000%),

11/3/2023

b

973,336

SS&C

Technologies,

Inc.,

Term

Loan

337,737

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

326,760

231,935

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

224,397

147,347

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

142,763

Zayo

Group

Holdings,

Inc.,

Term

Loan

723,188

3.161%, 

(LIBOR

1M

+

3.000%),

3/9/2027

b

701,492

Total

4,049,825

Transportation

(<0.1%)

Delta

Air

Lines,

Inc.,

Term

Loan

101,893

0.000%, 

(LIBOR

1M

+

4.750%),

4/29/2023

b,d,e

100,158

Genesee

&

Wyoming,

Inc.,

Term

Loan

453,862

2.308%, 

(LIBOR

3M

+

2.000%),

12/30/2026

b

445,071

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

135

Principal

Amount

Bank

Loans

(1.5%)

a

Value

Transportation

(<0.1%)

-

continued

Mileage

Plus

Holdings,

LLC,

Term

Loan

$

245,000

6.250%, 

(LIBOR

3M

+

5.250%),

6/20/2027

b

$

244,265

United

Airlines,

Inc.,

Term

Loan

338,252

1.911%, 

(LIBOR

1M

+

1.750%),

4/1/2024

b

302,857

Total

1,092,351

Utilities

(0.1%)

Advanced

Drainage

Systems,

Inc.,

Term

Loan

114,689

2.438%, 

(LIBOR

1M

+

2.250%),

9/24/2026

b

113,112

Core

and

Main,

LP,

Term

Loan

306,337

3.750%, 

(LIBOR

3M

+

2.750%),

8/1/2024

b

297,723

EnergySolutions,

LLC,

Term

Loan

240,100

4.750%, 

(LIBOR

3M

+

3.750%),

5/11/2025

b

221,091

Pacific

Gas

&

Electric

Company,

Term

Loan

565,000

5.500%, 

(LIBOR

3M

+

4.500%),

1/1/2022

b

558,113

Total

1,190,039

Total

Bank

Loans

(cost

$43,867,884)

41,790,506

Shares

Registered

Investment

Companies

(

41.9%

)

Value

Unaffiliated  (0.6%)

4,623

Health

Care

Select

Sector

SPDR

Fund

487,865

212,050

Invesco

Senior

Loan

ETF

4,588,762

4,674

iShares

Dow

Jones

US

Home

Construction

Index

Fund

241,459

6,185

ProShares

Ultra

S&P

500

864,045

11,987

SPDR

Bloomberg

Barclays

High

Yield

Bond

ETF

1,271,821

33,845

SPDR

S&P

500

ETF

Trust

11,051,069

9,435

SPDR

S&P

Regional

Banking

ETF

354,567

870

Utilities

Select

Sector

SPDR

Fund

g

52,922

Total

18,912,510

Affiliated  (41.3%)

6,935,700

Thrivent

Core

Emerging

Markets

Debt

Fund

69,426,353

871,054

Thrivent

Core

Emerging

Markets

Equity

Fund

h

8,806,359

2,369,413

Thrivent

Core

International

Equity

Fund

20,329,567

9,249,734

Thrivent

Core

Low

Volatility

Equity

Fund

109,054,359

2,271,188

Thrivent

Global

Stock

Fund,

Class

S

54,735,632

8,686,889

Thrivent

High

Yield

Fund,

Class

S

39,525,346

13,288,015

Thrivent

Income

Fund,

Class

S

135,404,869

13,184,695

Thrivent

International

Allocation

Fund,

Class

S

122,222,125

14,466,170

Thrivent

Large

Cap

Growth

Fund,

Class

S

232,182,030

8,926,945

Thrivent

Large

Cap

Value

Fund,

Class

S

184,698,488

Shares

Registered

Investment

Companies

(41.9%)

Value

Affiliated  (41.3%)-

continued

5,415,475

Thrivent

Limited

Maturity

Bond

Fund,

Class

S

$

68,668,223

4,250,886

Thrivent

Mid

Cap

Stock

Fund,

Class

S

114,348,831

1,285,073

Thrivent

Small

Cap

Stock

Fund,

Class

S

27,333,500

Total

1,186,735,682

Total

Registered

Investment

Companies

(cost

$925,857,606)

1,205,648,192

Principal

Amount

Long-Term

Fixed

Income

(

31.8%

)

Value

Asset-Backed

Securities

(1.1%)

Access

Group,

Inc.

60,542

0.672%, 

(LIBOR

1M

+

0.500%),

2/25/2036,

Ser.

2013-1,

Class

A

b,i

59,189

Aimco

800,000

1.578%, 

(LIBOR

3M

+

1.320%),

7/22/2032,

Ser.

2019-10A,

Class

A

b,i

786,302

Ares

CLO,

Ltd.

1,000,000

1.673%, 

(LIBOR

3M

+

1.400%),

10/17/2030,

Ser.

2018-28RA,

Class

A2

b,i

972,540

Benefit

Street

Partners

CLO

IV,

Ltd.

1,300,000

1.522%, 

(LIBOR

3M

+

1.250%),

1/20/2029,

Ser.

2014-IVA,

Class

A1RR

b,i

1,291,739

800,000

2.022%, 

(LIBOR

3M

+

1.750%),

1/20/2029,

Ser.

2014-IVA,

Class

A2RR

b,i

791,598

Buttermilk

Park

CLO,

Ltd.

1,750,000

1.675%, 

(LIBOR

3M

+

1.400%),

10/15/2031,

Ser.

2018-1A,

Class

A2

b,i

1,700,713

Carlyle

Global

Market

Strategies

CLO,

Ltd.

1,150,000

1.725%, 

(LIBOR

3M

+

1.450%),

7/15/2031,

Ser.

2014-5A,

Class

A2RR

b,i

1,102,659

Carvana

Auto

Receivables

Trust

250,000

2.340%, 

6/15/2023,

Ser.

2019-3A,

Class

A3

i

252,768

Colony

American

Finance

Trust

1,272,394

2.835%, 

6/15/2052,

Ser.

2019-2,

Class

A

i

1,338,711

Commonbond

Student

Loan

Trust

104,066

0.672%, 

(LIBOR

1M

+

0.500%),

2/25/2044,

Ser.

2018-AGS,

Class

A2

b,i

102,535

CoreVest

American

Finance

Trust

1,782,613

2.705%, 

10/15/2052,

Ser.

2019-3,

Class

A

i

1,832,804

Deephaven

Residential

Mortgage

Trust

551,777

4.080%, 

10/25/2058,

Ser.

2018-4A,

Class

A1

b,i

556,720

Dryden

Senior

Loan

Fund

950,000

1.672%, 

(LIBOR

3M

+

1.400%),

7/18/2030,

Ser.

2018-65A,

Class

A2

b,i

927,898

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

136

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Asset-Backed

Securities

(1.1%)

-

continued

Earnest

Student

Loan

Program,

LLC

$

153,350

3.020%, 

5/25/2034,

Ser.

2016-B,

Class

A2

i

$

154,651

Galaxy

XX

CLO,

Ltd.

650,000

1.272%, 

(LIBOR

3M

+

1.000%),

4/20/2031,

Ser.

2015-20A,

Class

AR

b,i

632,613

Golub

Capital

Partners,

Ltd.

890,000

1.422%, 

(LIBOR

3M

+

1.150%),

10/20/2028,

Ser.

2018-39A,

Class

A1

b,i

879,520

769,000

1.472%, 

(LIBOR

3M

+

1.200%),

1/20/2031,

Ser.

2015-23A,

Class

AR

b,i

746,920

Harley

Marine

Financing,

LLC

2,161,024

5.682%, 

5/15/2043,

Ser.

2018-1A,

Class

A2

i

1,942,648

Home

Partners

of

America

Trust

1,431,496

2.908%, 

9/17/2039,

Ser.

2019-1,

Class

A

i

1,490,330

1,435,589

2.703%, 

10/19/2039,

Ser.

2019-2,

Class

A

i

1,478,657

Laurel

Road

Prime

Student

Loan

Trust

1,179,531

0.372%, 

11/25/2043,

Ser.

2018-D,

Class

A

b,i

1,228,268

Madison

Park

Funding

XIV,

Ltd.

750,000

1.658%, 

(LIBOR

3M

+

1.400%),

10/22/2030,

Ser.

2014-14A,

Class

A2RR

b,i

727,702

Magnetite

XII,

Ltd.

650,000

1.375%, 

(LIBOR

3M

+

1.100%),

10/15/2031,

Ser.

2015-12A,

Class

ARR

b,i

636,864

Mountain

View

CLO,

Ltd.

475,000

1.395%, 

(LIBOR

3M

+

1.120%),

7/15/2031,

Ser.

2015-9A,

Class

A1R

b,i

460,875

National

Collegiate

Trust

433,692

0.467%, 

(LIBOR

1M

+

0.295%),

5/25/2031,

Ser.

2007-A,

Class

A

b,i

418,690

Neuberger

Berman

CLO

XIV,

Ltd.

1,000,000

1.277%, 

(LIBOR

3M

+

1.030%),

1/28/2030,

Ser.

2013-14A,

Class

AR2

b,i

983,731

Neuberger

Berman

CLO,

Ltd.

400,000

1.288%, 

(LIBOR

3M

+

1.030%),

4/22/2029,

Ser.

2014-17A,

Class

AR2

b,i

393,956

Octagon

Investment

Partners

XVI,

Ltd.

200,000

1.673%, 

(LIBOR

3M

+

1.400%),

7/17/2030,

Ser.

2013-1A,

Class

A2R

b,i

194,941

OneMain

Financial

Issuance

Trust

1,070,000

3.840%, 

5/14/2032,

Ser.

2020-1A,

Class

A

i

1,112,852

OZLM

VIII,

Ltd.

1,498,653

1.443%, 

(LIBOR

3M

+

1.170%),

10/17/2029,

Ser.

2014-8A,

Class

A1RR

b,i

1,474,897

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Asset-Backed

Securities

(1.1%)

-

continued

Palmer

Square

Loan

Funding,

Ltd.

$

550,000

1.922%, 

(LIBOR

3M

+

1.650%),

4/20/2027,

Ser.

2019-1A,

Class

A2

b,i

$

542,858

PPM

CLO

3,

Ltd.

500,000

1.673%, 

(LIBOR

3M

+

1.400%),

7/17/2030,

Ser.

2019-3A,

Class

A

b,i

493,441

Pretium

Mortgage

Credit

Partners,

LLC

844,895

3.721%, 

2/27/2060,

Ser.

2020-NPL2,

Class

A1

i,j

846,293

RCO

Mortgage,

LLC

565,165

4.458%, 

10/25/2023,

Ser.

2018-2,

Class

A1

i,j

567,233

Shackleton

CLO,

Ltd.

450,000

1.445%, 

(LIBOR

3M

+

1.170%),

7/15/2031,

Ser.

2015-7RA,

Class

A1

b,i

438,685

SLM

Student

Loan

Trust

149,834

0.572%, 

(LIBOR

1M

+

0.400%),

3/25/2025,

Ser.

2010-1,

Class

A

b

141,578

Toyota

Auto

Loan

Extended

Note

Trust

800,000

1.350%, 

5/25/2033,

Ser.

2020-1A,

Class

A

i

821,109

Voya

CLO,

Ltd.

499,220

1.475%, 

(LIBOR

3M

+

1.200%),

10/15/2030,

Ser.

2012-4A,

Class

A1AR

b,i

489,908

Total

31,015,396

Basic

Materials

(0.4%)

Air

Products

and

Chemicals,

Inc.

700,000

2.700%, 

5/15/2040

790,352

Alcoa

Nederland

Holding

BV

250,000

5.500%, 

12/15/2027

i

269,450

Anglo

American

Capital

plc

300,000

4.875%, 

5/14/2025

i

340,907

BWAY

Holding

Company

220,000

5.500%, 

4/15/2024

i

224,308

Cleveland-Cliffs,

Inc.

185,000

5.750%, 

3/1/2025

159,562

150,000

9.875%, 

10/17/2025

i

163,875

DowDuPont,

Inc.

600,000

4.493%, 

11/15/2025

701,057

EI

du

Pont

de

Nemours

&

Company

450,000

2.300%, 

7/15/2030

480,761

First

Quantum

Minerals,

Ltd.

320,000

7.500%, 

4/1/2025

i

323,200

Freeport-McMoRan,

Inc.

230,000

4.125%, 

3/1/2028

g

241,787

240,000

4.250%, 

3/1/2030

250,752

Glencore

Funding,

LLC

152,000

4.125%, 

5/30/2023

i

163,263

200,000

4.000%, 

3/27/2027

i

220,160

International

Paper

Company

390,000

4.350%, 

8/15/2048

g

486,552

Kinross

Gold

Corporation

154,000

5.950%, 

3/15/2024

175,012

460,000

4.500%, 

7/15/2027

525,266

Koppers,

Inc.

280,000

6.000%, 

2/15/2025

i

288,400

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

137

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Basic

Materials

(0.4%)

-

continued

Krayton

Polymers,

LLC

$

270,000

7.000%, 

4/15/2025

i

$

279,450

Methanex

Corporation

360,000

5.250%, 

12/15/2029

348,300

Norbord,

Inc.

320,000

5.750%, 

7/15/2027

i

340,800

Novelis

Corporation

355,000

5.875%, 

9/30/2026

i

378,753

100,000

4.750%, 

1/30/2030

i

104,327

Olin

Corporation

360,000

5.125%, 

9/15/2027

g

349,200

Peabody

Securities

Finance

Corporation

295,000

6.375%, 

3/31/2025

i

147,500

Sherwin-Williams

Company

153,000

3.125%, 

6/1/2024

166,075

Syngenta

Finance

NV

475,000

3.933%, 

4/23/2021

i

479,768

Teck

Resources,

Ltd.

581,000

6.125%, 

10/1/2035

679,715

Tronox

Finance

plc

310,000

5.750%, 

10/1/2025

i

306,900

Vale

Overseas,

Ltd.

225,000

6.250%, 

8/10/2026

270,450

132,000

6.875%, 

11/21/2036

180,180

WestRock

Company

245,000

3.750%, 

3/15/2025

274,328

Total

10,110,410

Capital

Goods

(0.5%)

AECOM

540,000

5.125%, 

3/15/2027

593,325

Amsted

Industries,

Inc.

390,000

5.625%, 

7/1/2027

i

411,450

Ardagh

Packaging

Finance

plc

132,000

6.000%, 

2/15/2025

g,i

137,940

200,000

5.250%, 

8/15/2027

i

209,354

Berry

Global,

Inc.

230,000

4.875%, 

7/15/2026

i

242,937

Carrier

Global

Corporation

650,000

2.700%, 

2/15/2031

i

685,391

Cintas

Corporation

No.

2

230,000

3.700%, 

4/1/2027

264,752

Clean

Harbors,

Inc.

240,000

4.875%, 

7/15/2027

i

254,426

CNH

Industrial

Capital,

LLC

336,000

4.875%, 

4/1/2021

344,689

CNH

Industrial

NV

210,000

3.850%, 

11/15/2027

226,667

Covanta

Holding

Corporation

270,000

6.000%, 

1/1/2027

279,450

Crown

Cork

&

Seal

Company,

Inc.

450,000

7.375%, 

12/15/2026

531,000

Emerson

Electric

Company

700,000

1.800%, 

10/15/2027

746,003

H&E

Equipment

Services,

Inc.

275,000

5.625%, 

9/1/2025

286,344

Ingersoll-Rand

Luxembourg

Finance

SA

625,000

3.500%, 

3/21/2026

g

693,553

Jeld-Wen,

Inc.

180,000

6.250%, 

5/15/2025

i

192,600

60,000

4.625%, 

12/15/2025

i

60,600

L3Harris

Technologies,

Inc.

507,000

3.950%, 

5/28/2024

557,401

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Capital

Goods

(0.5%)

-

continued

Lockheed

Martin

Corporation

$

312,000

3.600%, 

3/1/2035

$

389,773

304,000

4.500%, 

5/15/2036

412,068

78,000

6.150%, 

9/1/2036

120,825

Northrop

Grumman

Corporation

550,000

3.850%, 

4/15/2045

684,594

Owens-Brockway

Glass

Container,

Inc.

109,000

5.000%, 

1/15/2022

i

109,273

Republic

Services,

Inc.

235,000

2.900%, 

7/1/2026

261,270

Reynolds

Group

Issuer,

Inc.

570,000

5.125%, 

7/15/2023

i

578,721

Roper

Technologies,

Inc.

130,000

3.650%, 

9/15/2023

142,091

192,000

4.200%, 

9/15/2028

232,086

Siemens

Financieringsmaatschappij

NV

386,000

4.200%, 

3/16/2047

i

546,407

Spirit

AeroSystems,

Inc.

100,000

7.500%, 

4/15/2025

i

98,280

Standard

Industries,

Inc.

460,000

4.375%, 

7/15/2030

i

496,800

Textron,

Inc.

510,000

3.375%, 

3/1/2028

538,964

TransDigm,

Inc.

175,000

6.250%, 

3/15/2026

i

184,625

470,000

5.500%, 

11/15/2027

445,889

United

Rentals

North

America,

Inc.

200,000

5.875%, 

9/15/2026

213,500

640,000

4.000%, 

7/15/2030

662,400

United

Technologies

Corporation

375,000

4.450%, 

11/16/2038

484,352

400,000

3.750%, 

11/1/2046

492,181

WESCO

Distribution,

Inc.

100,000

7.250%, 

6/15/2028

i

109,250

Total

13,921,231

Collateralized

Mortgage

Obligations

(1.5%)

Ajax

Mortgage

Loan

Trust

930,250

4.360%, 

9/25/2065,

Ser.

2018-C,

Class

A

b,i

944,386

Alternative

Loan

Trust

157,579

6.000%, 

8/1/2036,

Ser.

2006-24CB,

Class

A9

124,949

Angel

Oak

Mortgage

Trust

1,355,158

2.531%, 

1/26/2065,

Ser.

2020-2,

Class

A1A

b,i

1,379,596

Angel

Oak

Mortgage

Trust

I,

LLC

436,721

3.500%, 

7/25/2046,

Ser.

2016-1,

Class

A1

i

454,167

1,100,472

3.674%, 

7/27/2048,

Ser.

2018-2,

Class

A1

b,i

1,122,221

Bellemeade

Re,

Ltd.

168,014

1.772%, 

(LIBOR

1M

+

1.600%),

4/25/2028,

Ser.

2018-1A,

Class

M1B

b,i

166,358

448,573

1.272%, 

(LIBOR

1M

+

1.100%),

7/25/2029,

Ser.

2019-3A,

Class

M1A

b,i

446,994

1,100,000

2.822%, 

(LIBOR

1M

+

2.650%),

6/25/2030,

Ser.

2020-1A,

Class

M1A

b,i

1,103,316

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

138

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Collateralized

Mortgage

Obligations

(1.5%)

-

continued

BRAVO

Residential

Funding

Trust

$

540,724

3.500%, 

3/25/2058,

Ser.

2019-1,

Class

A1C

i

$

556,141

CHL

Mortgage

Pass-Through

Trust

2,267,072

6.000%, 

11/25/2037,

Ser.

2007-18,

Class

1A2

1,820,057

CIM

Trust

1,283,667

5.000%, 

12/25/2057,

Ser.

2018-R3,

Class

A1

b,i

1,351,935

Citicorp

Mortgage

Securities,

Inc.

848,073

6.000%, 

7/25/2037,

Ser.

2007-6,

Class

1A4

826,573

Citigroup

Mortgage

Loan

Trust,

Inc.

187,587

5.500%, 

11/25/2035,

Ser.

2005-9,

Class

21A2

191,246

COLT

Funding,

LLC

273,400

3.470%, 

7/27/2048,

Ser.

2018-2,

Class

A1

b,i

276,026

Countrywide

Alternative

Loan

Trust

190,129

3.354%, 

10/25/2035,

Ser.

2005-43,

Class

4A1

b

177,112

302,713

6.000%, 

4/25/2036,

Ser.

2006-4CB,

Class

1A1

213,795

693,402

7.000%, 

10/25/2037,

Ser.

2007-24,

Class

A10

395,661

Countrywide

Home

Loans,

Inc.

226,605

5.750%, 

4/25/2037,

Ser.

2007-3,

Class

A27

170,522

Credit

Suisse

Mortgage

Capital

Certificates

741,783

3.393%, 

2/25/2024,

Ser.

2020-BPL1,

Class

A1

i,j

742,173

Credit

Suisse

Mortgage

Trust

2,382,950

3.552%, 

2/25/2060,

Ser.

2020-RPL2,

Class

A12

i

2,375,493

1,133,308

3.850%, 

9/25/2057,

Ser.

2018-RPL9,

Class

A1

b,i

1,202,446

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

95,267

6.000%, 

10/25/2021,

Ser.

2006-AR5,

Class

23A

84,178

Ellington

Financial

Mortgage

Trust

619,236

4.140%, 

10/25/2058,

Ser.

2018-1,

Class

A1FX

b,i

633,660

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

523,835

4.000%, 

7/15/2031,

Ser.

4104,

Class

KI

k

32,195

474,295

3.000%, 

2/15/2033,

Ser.

4170,

Class

IG

k

44,923

1,369,385

3.000%, 

3/15/2033,

Ser.

4180,

Class

PI

k

135,536

Federal

National

Mortgage

Association

-

REMIC

2,117,910

3.000%, 

12/25/2027,

Ser.

2012-137,

Class

AI

k

129,480

FWD

Securitization

Trust

1,977,571

2.810%, 

6/25/2049,

Ser.

2019-INV1,

Class

A1

b,i

2,024,552

Galton

Funding

Mortgage

Trust

2017-1

537,312

4.500%, 

10/25/2058,

Ser.

2018-2,

Class

A41

b,i

549,909

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Collateralized

Mortgage

Obligations

(1.5%)

-

continued

GCAT

Trust

$

140,023

2.985%, 

2/25/2059,

Ser.

2019-NQM1,

Class

A1

i,j

$

141,721

GS

Mortgage-Backed

Securities

Trust

1,021,058

2.625%, 

1/25/2059,

Ser.

2019-SL1,

Class

A1

b,i

1,029,276

GSR

Mortgage

Loan

Trust

1,597,496

4.138%, 

9/25/2034,

Ser.

2004-11,

Class

2A2

b

1,620,095

Legacy

Mortgage

Asset

Trust

640,172

3.250%, 

2/25/2060,

Ser.

2020-GS4,

Class

A1

i,j

644,483

MASTR

Alternative

Loans

Trust

368,044

0.622%, 

(LIBOR

1M

+

0.450%),

12/25/2035,

Ser.

2005-6,

Class

2A1

b

64,673

Merrill

Lynch

Alternative

Note

Asset

Trust

183,097

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

123,515

MFRA

Trust

648,347

4.164%, 

7/25/2048,

Ser.

2018-NPL2,

Class

A1

i,j

647,706

New

Residential

Mortgage

Loan

Trust

814,369

4.335%, 

7/25/2050,

Ser.

2020-NPL1,

Class

A1

i,j

814,275

Preston

Ridge

Partners

Mortgage

Trust,

LLC

924,435

4.500%, 

1/25/2024,

Ser.

2019-1A,

Class

A1

i,j

930,374

819,308

3.500%, 

10/25/2024,

Ser.

2019-GS1,

Class

A1

b,i

815,255

RCO

Mortgage,

LLC

1,095,871

3.721%, 

5/24/2024,

Ser.

2019-1,

Class

A1

i,j

1,101,183

1,465,991

3.475%, 

11/25/2024,

Ser.

2019-2,

Class

A1

i,j

1,459,798

417,672

3.197%, 

11/25/2052,

Ser.

2017-INV1,

Class

A

b,i

421,587

929,530

4.270%, 

12/26/2053,

Ser.

2018-VFS1,

Class

A1

b,i

972,142

Residential

Accredit

Loans,

Inc.

Trust

338,205

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

338,702

Silver

Hill

Trust

499,321

3.102%, 

11/25/2049,

Ser.

2019-SBC1,

Class

A1

b,i

508,535

Starwood

Mortgage

Residential

Trust

402,852

2.718%, 

4/25/2060,

Ser.

2020-2,

Class

A1

b,i

403,142

Toorak

Mortgage

Corporation

1,900,000

4.458%, 

3/25/2022,

Ser.

2019-1,

Class

A1

i,j

1,910,941

3,500,000

3.721%, 

9/25/2022,

Ser.

2019-2,

Class

A1

3,495,849

600,000

2.734%, 

3/25/2023,

Ser.

2020-1,

Class

A1

i,j

588,534

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

139

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Collateralized

Mortgage

Obligations

(1.5%)

-

continued

Vericrest

Opportunity

Loan

Transferee

$

867,332

3.352%, 

8/25/2049,

Ser.

2019-NPL4,

Class

A1A

i,j

$

868,236

Verus

Securitization

Trust

130,626

2.853%, 

1/25/2047,

Ser.

2017-1A,

Class

A1

b,i

130,486

182,602

3.836%, 

2/25/2059,

Ser.

2019-1,

Class

A1

b,i

186,114

126,818

3.211%, 

5/25/2059,

Ser.

2019-2,

Class

A1

b,i

129,348

271,149

3.345%, 

5/25/2059,

Ser.

2019-2,

Class

A2

b,i

270,035

959,089

2.913%, 

7/25/2059,

Ser.

2019-INV2,

Class

A1

b,i

976,033

616,236

2.947%, 

11/25/2059,

Ser.

2019-INV3,

Class

A2

b,i

614,891

483,155

1.977%, 

4/25/2060,

Ser.

2020-INV1,

Class

A1

b,i

481,626

2,161,850

3.626%, 

4/25/2060,

Ser.

2020-3,

Class

A1

b,i

2,160,190

628,273

2.226%, 

5/25/2060,

Ser.

2020-2,

Class

A1

b,i

634,908

WaMu

Mortgage

Pass

Through

Certificates

46,593

3.709%, 

9/25/2036,

Ser.

2006-AR10,

Class

1A2

b

43,113

182,645

3.711%, 

10/25/2036,

Ser.

2006-AR12,

Class

1A1

b

173,538

Total

44,375,904

Commercial

Mortgage-Backed

Securities

(0.2%)

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

757,633

3.000%, 

3/15/2045,

Ser.

4741,

Class

GA

785,344

Federal

National

Mortgage

Association

-

ACES

8,999,399

1.770%, 

12/25/2028,

Ser.

2020-M11,

Class

IO

b,k

1,087,558

GS

Mortgage

Securities

Trust

1,200,000

3.666%, 

9/10/2047,

Ser.

2014-GC24,

Class

A4

1,305,376

Morgan

Stanley

Capital

I

Trust

4,500,000

1.973%, 

7/15/2053,

Ser.

2020-HR8,

Class

XA

b,k

670,130

UBS

Commercial

Mortgage

Trust

950,000

2.921%, 

10/15/2052,

Ser.

2019-C17,

Class

A4

1,044,425

Total

4,892,833

Communications

Services

(1.2%)

Altice

France

SA

150,000

5.500%, 

1/15/2028

i

158,250

AMC

Networks,

Inc.

220,000

5.000%, 

4/1/2024

223,575

American

Tower

Corporation

275,000

2.900%, 

1/15/2030

304,480

700,000

2.100%, 

6/15/2030

727,917

AT&T,

Inc.

700,000

2.300%, 

6/1/2027

741,347

725,000

4.350%, 

3/1/2029

866,292

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Communications

Services

(1.2%)

-

continued

$

235,000

4.300%, 

2/15/2030

$

282,241

315,000

5.250%, 

3/1/2037

406,747

300,000

4.900%, 

8/15/2037

376,474

228,000

6.350%, 

3/15/2040

324,409

285,000

5.550%, 

8/15/2041

378,385

825,000

3.100%, 

2/1/2043

e

845,078

British

Telecommunications

plc

625,000

4.500%, 

12/4/2023

698,438

CCO

Holdings,

LLC

275,000

5.500%, 

5/1/2026

i

290,895

260,000

5.125%, 

5/1/2027

i

275,844

650,000

4.750%, 

3/1/2030

i

691,844

60,000

4.500%, 

8/15/2030

i

63,594

230,000

4.250%, 

2/1/2031

i

239,887

CCOH

Safari,

LLC

200,000

5.750%, 

2/15/2026

i

209,000

Charter

Communications

Operating,

LLC

129,000

6.834%, 

10/23/2055

185,311

300,000

4.500%, 

2/1/2024

333,423

430,000

4.200%, 

3/15/2028

494,369

1,075,000

6.484%, 

10/23/2045

1,509,927

Clear

Channel

Worldwide

Holdings,

Inc.

350,000

5.125%, 

8/15/2027

i

343,000

Comcast

Corporation

575,000

4.950%, 

10/15/2058

885,861

370,000

4.049%, 

11/1/2052

485,794

250,000

2.750%, 

3/1/2023

264,955

355,000

3.950%, 

10/15/2025

411,170

575,000

4.250%, 

10/15/2030

721,078

130,000

4.400%, 

8/15/2035

168,867

410,000

4.750%, 

3/1/2044

577,847

250,000

4.600%, 

8/15/2045

346,084

Cox

Communications,

Inc.

420,000

3.350%, 

9/15/2026

i

471,943

156,000

4.600%, 

8/15/2047

i

209,033

Crown

Castle

International

Corporation

234,000

5.250%, 

1/15/2023

260,144

312,000

3.200%, 

9/1/2024

340,061

CSC

Holdings,

LLC

310,000

5.500%, 

5/15/2026

i

325,112

190,000

4.125%, 

12/1/2030

i

200,212

Discovery

Communications,

LLC

390,000

4.900%, 

3/11/2026

457,134

Embarq

Corporation

270,000

7.995%, 

6/1/2036

316,440

Entercom

Media

Corporation

170,000

6.500%, 

5/1/2027

i

151,725

Fox

Corporation

420,000

3.500%, 

4/8/2030

477,925

Front

Range

BidCo,

Inc.

400,000

4.000%, 

3/1/2027

i

400,884

Gray

Television,

Inc.

295,000

5.875%, 

7/15/2026

i

305,213

iHeartCommunications,

Inc.

140,000

4.750%, 

1/15/2028

i

138,992

Lamar

Media

Corporation

200,000

3.750%, 

2/15/2028

i

201,750

Level

3

Financing,

Inc.

340,000

4.625%, 

9/15/2027

i

357,425

350,000

4.250%, 

7/1/2028

i

364,875

Neptune

Finco

Corporation

499,000

10.875%, 

10/15/2025

i

534,978

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

140

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Communications

Services

(1.2%)

-

continued

Netflix,

Inc.

$

590,000

4.875%, 

4/15/2028

$

685,828

Nexstar

Escrow

Corporation

201,000

5.625%, 

8/1/2024

i

206,528

340,000

5.625%, 

7/15/2027

i

363,902

Omnicom

Group,

Inc.

156,000

3.600%, 

4/15/2026

175,535

210,000

4.200%, 

6/1/2030

249,686

SBA

Communications

Corporation

210,000

3.875%, 

2/15/2027

i

217,350

SFR

Group

SA

550,000

7.375%, 

5/1/2026

i

586,658

Sirius

XM

Radio,

Inc.

540,000

5.000%, 

8/1/2027

i

575,543

200,000

4.125%, 

7/1/2030

i

211,060

Sprint

Capital

Corporation

190,000

6.875%, 

11/15/2028

246,373

Sprint

Corporation

590,000

7.250%, 

9/15/2021

623,925

645,000

7.625%, 

2/15/2025

783,398

Telefonica

Emisiones

SAU

475,000

4.570%, 

4/27/2023

523,079

Telesat

Canada

/

Telesat,

LLC

480,000

4.875%, 

6/1/2027

i

487,200

Time

Warner

Entertainment

Company,

LP

379,000

8.375%, 

3/15/2023

449,001

T-Mobile

USA,

Inc.

660,000

4.500%, 

2/1/2026

679,800

725,000

3.750%, 

4/15/2027

i

823,752

600,000

4.375%, 

4/15/2040

i

734,544

Univision

Communications,

Inc.

210,000

6.625%, 

6/1/2027

i

210,588

VeriSign,

Inc.

350,000

4.750%, 

7/15/2027

380,023

Verizon

Communications,

Inc.

298,000

3.376%, 

2/15/2025

334,550

170,000

1.492%, 

(LIBOR

3M

+

1.100%),

5/15/2025

b

173,981

1,192,000

4.272%, 

1/15/2036

1,531,545

Viacom,

Inc.

228,000

5.850%, 

9/1/2043

289,585

Virgin

Media

Secured

Finance

plc

410,000

5.500%, 

8/15/2026

i

435,539

Vodafone

Group

plc

400,000

4.875%, 

6/19/2049

527,343

Walt

Disney

Company

775,000

2.200%, 

1/13/2028

819,871

500,000

2.650%, 

1/13/2031

543,498

425,000

3.500%, 

5/13/2040

488,213

Windstream

Services,

LLC

250,000

8.625%, 

10/31/2025

f,i

150,000

Ziggo

BV

575,000

5.500%, 

1/15/2027

i

607,378

Total

35,461,505

Consumer

Cyclical

(0.9%)

1011778

B.C.,

ULC

550,000

4.375%, 

1/15/2028

i

572,072

Allied

Universal

Holdco,

LLC

210,000

6.625%, 

7/15/2026

i

224,700

Allison

Transmission,

Inc.

410,000

5.000%, 

10/1/2024

i

417,893

Amazon.com,

Inc.

700,000

1.500%, 

6/3/2030

725,105

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Consumer

Cyclical

(0.9%)

-

continued

$

390,000

3.875%, 

8/22/2037

$

506,334

234,000

4.050%, 

8/22/2047

322,104

American

Honda

Finance

Corporation

400,000

2.150%, 

9/10/2024

422,433

Brookfield

Property

REIT,

Inc.

110,000

5.750%, 

5/15/2026

i

90,958

Brookfield

Residential

Properties,

Inc.

560,000

6.250%, 

9/15/2027

i

560,000

Carnival

Corporation

140,000

10.500%, 

2/1/2026

i

144,929

Cedar

Fair,

LP

230,000

5.250%, 

7/15/2029

217,281

Colt

Merger

Sub,

Inc.

290,000

6.250%, 

7/1/2025

i

303,630

D.R.

Horton,

Inc.

365,000

2.550%, 

12/1/2020

367,494

700,000

2.600%, 

10/15/2025

747,869

Dana,

Inc.

260,000

5.625%, 

6/15/2028

273,000

Ford

Motor

Company

120,000

9.000%, 

4/22/2025

141,375

70,000

9.625%, 

4/22/2030

92,875

Ford

Motor

Credit

Company,

LLC

114,000

3.200%, 

1/15/2021

114,000

115,000

1.576%, 

(LIBOR

3M

+

1.270%),

3/28/2022

b

110,407

670,000

4.063%, 

11/1/2024

684,874

660,000

4.134%, 

8/4/2025

676,434

General

Motors

Company

700,000

6.125%, 

10/1/2025

816,075

700,000

6.800%, 

10/1/2027

852,360

General

Motors

Financial

Company,

Inc.

400,000

3.150%, 

6/30/2022

411,086

152,000

3.950%, 

4/13/2024

162,098

Hanesbrands,

Inc.

400,000

4.875%, 

5/15/2026

i

436,000

Herc

Holdings,

Inc.

160,000

5.500%, 

7/15/2027

i

169,200

Hilton

Domestic

Operating

Company,

Inc.

530,000

4.875%, 

1/15/2030

556,500

Home

Depot,

Inc.

375,000

5.400%, 

9/15/2040

557,936

228,000

4.250%, 

4/1/2046

307,286

965,000

3.900%, 

6/15/2047

1,252,193

Hyundai

Capital

America

550,000

3.000%, 

6/20/2022

i

563,634

International

Game

Technology

plc

280,000

5.250%, 

1/15/2029

i

286,101

KB

Home

220,000

4.800%, 

11/15/2029

228,800

Landry's,

Inc.

320,000

6.750%, 

10/15/2024

i

224,000

Lennar

Corporation

350,000

4.125%, 

1/15/2022

358,313

620,000

4.875%, 

12/15/2023

668,180

200,000

4.500%, 

4/30/2024

216,500

Mastercard,

Inc.

560,000

3.300%, 

3/26/2027

645,636

275,000

3.950%, 

2/26/2048

363,956

Mattamy

Group

Corporation

460,000

5.250%, 

12/15/2027

i

477,250

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

141

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Consumer

Cyclical

(0.9%)

-

continued

McDonald's

Corporation

$

700,000

2.125%, 

3/1/2030

$

734,706

470,000

4.450%, 

3/1/2047

612,338

MGM

Resorts

International

400,000

6.000%, 

3/15/2023

418,000

Norwegian

Cruise

Line

Holdings,

Ltd.

130,000

10.250%, 

2/1/2026

i

129,513

Prime

Security

Services

Borrower,

LLC

550,000

5.750%, 

4/15/2026

i

610,500

Royal

Caribbean

Cruises,

Ltd.

140,000

9.125%, 

6/15/2023

i

143,150

Scientific

Games

International,

Inc.

270,000

5.000%, 

10/15/2025

i

267,638

ServiceMaster

Company,

LLC

450,000

5.125%, 

11/15/2024

i

463,500

Six

Flags

Entertainment

Corporation

150,000

5.500%, 

4/15/2027

g,i

141,750

Six

Flags

Theme

Parks,

Inc.

130,000

7.000%, 

7/1/2025

i

139,530

Staples,

Inc.

290,000

7.500%, 

4/15/2026

i

254,417

Target

Corporation

650,000

2.250%, 

4/15/2025

699,314

TJX

Companies,

Inc.

150,000

3.750%, 

4/15/2027

174,051

430,000

3.875%, 

4/15/2030

518,424

ViacomCBS,

Inc.

775,000

4.200%, 

5/19/2032

889,860

Visa,

Inc.

315,000

2.700%, 

4/15/2040

358,165

Volkswagen

Group

of

America

Finance,

LLC

725,000

4.250%, 

11/13/2023

i

800,646

Walmart,

Inc.

425,000

3.250%, 

7/8/2029

502,760

Wyndham

Destinations,

Inc.

170,000

6.625%, 

7/31/2026

i

175,466

Yum!

Brands,

Inc.

430,000

4.750%, 

1/15/2030

i

466,550

Total

25,769,149

Consumer

Non-Cyclical

(1.5%)

Abbott

Laboratories

133,000

3.750%, 

11/30/2026

156,552

643,000

4.750%, 

11/30/2036

904,068

AbbVie,

Inc.

400,000

2.800%, 

3/15/2023

i

416,806

390,000

3.600%, 

5/14/2025

436,658

325,000

2.950%, 

11/21/2026

i

358,678

175,000

4.700%, 

5/14/2045

229,582

750,000

4.875%, 

11/14/2048

1,032,698

Albertson's

Companies,

Inc.

560,000

7.500%, 

3/15/2026

i

630,000

Altria

Group,

Inc.

400,000

4.400%, 

2/14/2026

465,218

600,000

5.800%, 

2/14/2039

790,134

Amgen,

Inc.

700,000

3.375%, 

2/21/2050

819,866

150,000

3.125%, 

5/1/2025

166,243

Anheuser-Busch

Companies,

LLC

800,000

3.650%, 

2/1/2026

910,476

608,000

4.700%, 

2/1/2036

747,093

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Consumer

Non-Cyclical

(1.5%)

-

continued

Anheuser-Busch

InBev

Worldwide,

Inc.

$

950,000

4.750%, 

4/15/2058

$

1,230,308

495,000

4.375%, 

4/15/2038

595,239

195,000

4.600%, 

4/15/2048

241,234

Anthem,

Inc.

560,000

3.125%, 

5/15/2050

621,354

390,000

4.625%, 

5/15/2042

511,615

Aramark

Services,

Inc.

250,000

6.375%, 

5/1/2025

i

264,082

BAT

Capital

Corporation

312,000

4.540%, 

8/15/2047

357,060

Bausch

Health

Companies,

Inc.

250,000

7.000%, 

1/15/2028

i

271,875

70,000

5.000%, 

1/30/2028

i

70,349

Baxalta,

Inc.

201,000

4.000%, 

6/23/2025

229,584

Becton,

Dickinson

and

Company

341,000

3.734%, 

12/15/2024

379,418

325,000

3.700%, 

6/6/2027

371,892

Boston

Scientific

Corporation

228,000

7.375%, 

1/15/2040

372,392

Bunge,

Ltd.

Finance

Corporation

114,000

3.500%, 

11/24/2020

114,798

Campbell

Soup

Company

200,000

2.375%, 

4/24/2030

211,813

Cargill,

Inc.

400,000

3.250%, 

5/23/2029

i

456,840

Centene

Corporation

550,000

4.750%, 

1/15/2025

569,976

190,000

4.250%, 

12/15/2027

201,875

210,000

4.625%, 

12/15/2029

234,205

Cigna

Corporation

285,000

3.050%, 

10/15/2027

306,767

605,000

4.800%, 

8/15/2038

802,023

Clorox

Company

505,000

3.100%, 

10/1/2027

575,622

Conagra

Brands,

Inc.

380,000

4.300%, 

5/1/2024

425,056

Constellation

Brands,

Inc.

360,000

3.600%, 

2/15/2028

408,829

275,000

2.875%, 

5/1/2030

298,938

CVS

Health

Corporation

75,000

4.000%, 

12/5/2023

82,689

465,000

4.100%, 

3/25/2025

528,472

700,000

3.625%, 

4/1/2027

801,169

935,000

4.875%, 

7/20/2035

1,215,561

DaVita,

Inc.

320,000

4.625%, 

6/1/2030

i

340,496

DENTSPLY

SIRONA,

Inc.

840,000

3.250%, 

6/1/2030

918,897

Edgewell

Personal

Care

Company

130,000

5.500%, 

6/1/2028

i

140,725

Encompass

Health

Corporation

400,000

4.500%, 

2/1/2028

418,000

Energizer

Holdings,

Inc.

430,000

4.750%, 

6/15/2028

i

461,218

Express

Scripts

Holding

Company

690,000

4.800%, 

7/15/2046

801,336

General

Mills,

Inc.

375,000

2.875%, 

4/15/2030

420,525

HCA,

Inc.

810,000

5.375%, 

2/1/2025

913,275

Imperial

Brands

Finance

plc

400,000

3.875%, 

7/26/2029

i

436,447

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

142

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Consumer

Non-Cyclical

(1.5%)

-

continued

JBS

Investments

II

GmbH

$

200,000

5.750%, 

1/15/2028

i

$

212,360

JBS

USA,

LLC

55,000

5.750%, 

6/15/2025

i

56,444

260,000

5.500%, 

1/15/2030

i

286,650

Kellogg

Company

775,000

2.100%, 

6/1/2030

812,709

Keurig

Dr.

Pepper,

Inc.

600,000

3.200%, 

5/1/2030

680,967

Kimberly-Clark

Corporation

420,000

3.100%, 

3/26/2030

488,856

390,000

3.900%, 

5/4/2047

514,809

Kraft

Foods

Group,

Inc.

320,000

5.000%, 

6/4/2042

358,099

Kraft

Heinz

Foods

Company

500,000

4.625%, 

1/30/2029

569,585

480,000

3.750%, 

4/1/2030

i

520,115

Medtronic,

Inc.

173,000

4.375%, 

3/15/2035

234,796

23,000

4.625%, 

3/15/2045

33,162

Merck

&

Company,

Inc.

70,000

3.700%, 

2/10/2045

90,989

Molina

Healthcare,

Inc.

230,000

4.375%, 

6/15/2028

i

244,382

Mondelez

International,

Inc.

225,000

2.750%, 

4/13/2030

249,656

Mylan,

Inc.

65,000

3.125%, 

1/15/2023

i

68,660

Nestle

Holdings,

Inc.

375,000

3.900%, 

9/24/2038

i

498,792

Par

Pharmaceutical,

Inc.

270,000

7.500%, 

4/1/2027

i

287,180

Pilgrim's

Pride

Corporation

350,000

5.875%, 

9/30/2027

i

370,125

Post

Holdings,

Inc.

190,000

5.750%, 

3/1/2027

i

202,350

Quest

Diagnostics,

Inc.

775,000

2.800%, 

6/30/2031

849,820

Reynolds

American,

Inc.

481,000

5.700%, 

8/15/2035

613,484

Roche

Holdings,

Inc.

228,000

4.000%, 

11/28/2044

i

302,173

Scotts

Miracle-Gro

Company

300,000

4.500%, 

10/15/2029

317,625

Shire

Acquisitions

Investments

Ireland

Designated

Activity

Company

336,000

2.400%, 

9/23/2021

342,707

Simmons

Foods,

Inc.

185,000

5.750%, 

11/1/2024

i

185,925

Smithfield

Foods,

Inc.

275,000

2.650%, 

10/3/2021

i

274,417

Spectrum

Brands,

Inc.

100,000

5.500%, 

7/15/2030

i

103,750

Teleflex,

Inc.

570,000

4.625%, 

11/15/2027

616,324

Tenet

Healthcare

Corporation

140,000

4.625%, 

7/15/2024

143,150

400,000

5.125%, 

11/1/2027

i

425,000

Teva

Pharmaceutical

Finance

Netherlands

III

BV

300,000

2.800%, 

7/21/2023

290,940

Thermo

Fisher

Scientific,

Inc.

420,000

4.133%, 

3/25/2025

483,713

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Consumer

Non-Cyclical

(1.5%)

-

continued

Tyson

Foods,

Inc.

$

156,000

3.550%, 

6/2/2027

$

177,666

UnitedHealth

Group,

Inc.

420,000

2.950%, 

10/15/2027

477,526

1,010,000

4.625%, 

7/15/2035

1,376,178

Upjohn,

Inc.

775,000

2.300%, 

6/22/2027

i

815,738

VRX

Escrow

Corporation

1,085,000

6.125%, 

4/15/2025

i

1,120,263

Zoetis,

Inc.

509,000

4.700%, 

2/1/2043

711,468

Total

42,074,579

Energy

(0.9%)

Antero

Resources

Corporation

195,000

5.000%, 

3/1/2025

123,581

Apache

Corporation

210,000

4.375%, 

10/15/2028

209,737

160,000

5.100%, 

9/1/2040

155,600

Archrock

Partners,

LP

290,000

6.250%, 

4/1/2028

i

292,900

BP

Capital

Markets

America,

Inc.

85,000

3.119%, 

5/4/2026

94,791

350,000

3.543%, 

4/6/2027

397,248

BP

Capital

Markets

plc

588,000

3.279%, 

9/19/2027

664,146

Buckeye

Partners,

LP

335,000

3.950%, 

12/1/2026

332,487

125,000

4.125%, 

12/1/2027

121,875

Canadian

Natural

Resources,

Ltd.

215,000

3.450%, 

11/15/2021

220,663

215,000

2.050%, 

7/15/2025

219,813

325,000

2.950%, 

7/15/2030

333,419

Canadian

Oil

Sands,

Ltd.

210,000

9.400%, 

9/1/2021

i

223,412

Cheniere

Energy

Partners,

LP

595,000

5.625%, 

10/1/2026

628,469

Chesapeake

Energy

Corporation

161,000

11.500%, 

1/1/2025

i,l,m

14,892

Comstock

Resources,

Inc.

150,000

9.750%, 

8/15/2026

149,952

ConocoPhillips

390,000

6.500%, 

2/1/2039

611,066

Continental

Resources,

Inc.

165,000

5.000%, 

9/15/2022

165,000

150,000

4.500%, 

4/15/2023

149,826

DCP

Midstream

Operating,

LP

200,000

5.625%, 

7/15/2027

207,500

Diamondback

Energy,

Inc.

500,000

3.500%, 

12/1/2029

500,558

El

Paso

Pipeline

Partners

Operating

Company,

LLC

230,000

4.300%, 

5/1/2024

254,942

Enagas

SA

550,000

5.500%, 

1/15/2028

i

489,434

Endeavor

Energy

Resources,

LP

100,000

6.625%, 

7/15/2025

i

105,063

90,000

5.500%, 

1/30/2026

i

90,450

250,000

5.750%, 

1/30/2028

i

256,563

Energy

Transfer

Operating,

LP

125,000

4.200%, 

9/15/2023

132,020

570,000

6.000%, 

6/15/2048

600,731

Energy

Transfer

Partners,

LP

215,000

4.900%, 

3/15/2035

217,837

175,000

5.150%, 

2/1/2043

166,884

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

143

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Energy

(0.9%)

-

continued

EnLink

Midstream

Partners,

LP

$

210,000

4.850%, 

7/15/2026

$

162,779

140,000

5.600%, 

4/1/2044

77,700

Enterprise

Products

Operating,

LLC

30,000

5.100%, 

2/15/2045

37,152

EOG

Resources,

Inc.

600,000

4.375%, 

4/15/2030

730,242

EQM

Midstream

Partners

LP

230,000

6.500%, 

7/1/2027

i

253,598

EQM

Midstream

Partners,

LP

110,000

5.500%, 

7/15/2028

114,048

EQT

Corporation

350,000

3.900%, 

10/1/2027

g

329,805

Equinor

ASA

840,000

3.000%, 

4/6/2027

936,483

Exxon

Mobil

Corporation

675,000

3.452%, 

4/15/2051

799,689

Kinder

Morgan

Energy

Partners,

LP

380,000

6.500%, 

9/1/2039

501,341

Kinder

Morgan,

Inc.

440,000

6.500%, 

9/15/2020

442,893

Magellan

Midstream

Partners,

LP

215,000

5.000%, 

3/1/2026

250,773

Marathon

Oil

Corporation

575,000

4.400%, 

7/15/2027

584,267

Marathon

Petroleum

Corporation

468,000

4.750%, 

12/15/2023

516,610

87,000

6.500%, 

3/1/2041

113,819

MPLX,

LP

700,000

4.875%, 

12/1/2024

787,768

468,000

4.875%, 

6/1/2025

530,241

Murphy

Oil

Corporation

170,000

5.875%, 

12/1/2027

156,400

Nabors

Industries,

Inc.

275,000

5.750%, 

2/1/2025

108,625

Nabors

Industries,

Ltd.

240,000

7.250%, 

1/15/2026

i

151,574

Newfield

Exploration

Company

80,000

5.625%, 

7/1/2024

79,924

327,000

5.375%, 

1/1/2026

317,984

Noble

Energy,

Inc.

600,000

5.050%, 

11/15/2044

801,090

Occidental

Petroleum

Corporation

210,000

2.700%, 

8/15/2022

202,730

400,000

2.900%, 

8/15/2024

376,380

140,000

3.400%, 

4/15/2026

126,700

130,000

8.500%, 

7/15/2027

144,768

240,000

3.500%, 

8/15/2029

213,305

130,000

6.450%, 

9/15/2036

130,027

330,000

4.400%, 

4/15/2046

268,851

ONEOK,

Inc.

560,000

2.200%, 

9/15/2025

550,389

Parsley

Energy,

LLC

360,000

5.625%, 

10/15/2027

i

377,100

Pioneer

Natural

Resources

Company

150,000

4.450%, 

1/15/2026

174,928

Plains

All

American

Pipeline,

LP

400,000

4.500%, 

12/15/2026

430,305

575,000

3.550%, 

12/15/2029

567,900

QEP

Resources,

Inc.

140,000

5.625%, 

3/1/2026

81,550

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Energy

(0.9%)

-

continued

Regency

Energy

Partners,

LP

$

304,000

5.875%, 

3/1/2022

$

318,938

Sabine

Pass

Liquefaction,

LLC

230,000

6.250%, 

3/15/2022

246,079

270,000

5.625%, 

4/15/2023

297,531

320,000

5.750%, 

5/15/2024

364,523

Schlumberger

Holdings

Corporation

365,000

4.000%, 

12/21/2025

i

405,004

Southwestern

Energy

Company

365,000

7.500%, 

4/1/2026

342,461

Suncor

Energy,

Inc.

210,000

3.600%, 

12/1/2024

230,173

Sunoco

Logistics

Partners

Operations,

LP

250,000

4.000%, 

10/1/2027

256,146

Sunoco,

LP

200,000

5.875%, 

3/15/2028

209,000

Targa

Resources

Partners,

LP

410,000

5.375%, 

2/1/2027

423,600

Transocean

Guardian,

Ltd.

452,400

5.875%, 

1/15/2024

i

399,243

W&T

Offshore,

Inc.

335,000

9.750%, 

11/1/2023

i

223,324

Western

Gas

Partners,

LP

312,000

4.000%, 

7/1/2022

321,978

Western

Midstream

Operating,

LP

110,000

5.250%, 

2/1/2050

108,625

200,000

3.100%, 

2/1/2025

199,520

200,000

3.950%, 

6/1/2025

199,000

Williams

Companies,

Inc.

420,000

7.500%, 

1/15/2031

550,901

Williams

Partners,

LP

195,000

4.500%, 

11/15/2023

213,784

320,000

6.300%, 

4/15/2040

415,613

WPX

Energy,

Inc.

140,000

5.750%, 

6/1/2026

142,800

220,000

4.500%, 

1/15/2030

204,798

Total

26,633,638

Financials

(2.2%)

ABN

AMRO

Bank

NV

300,000

4.750%, 

7/28/2025

i

337,523

ACE

INA

Holdings,

Inc.

225,000

4.350%, 

11/3/2045

317,695

AerCap

Ireland

Capital,

Ltd.

152,000

4.625%, 

10/30/2020

152,663

152,000

4.625%, 

7/1/2022

154,335

275,000

3.500%, 

1/15/2025

263,152

425,000

3.875%, 

1/23/2028

392,120

Aircastle,

Ltd.

650,000

5.000%, 

4/1/2023

651,549

Ally

Financial,

Inc.

450,000

5.750%, 

11/20/2025

508,015

American

International

Group,

Inc.

228,000

4.125%, 

2/15/2024

254,740

475,000

3.750%, 

7/10/2025

535,442

450,000

3.900%, 

4/1/2026

517,177

Australia

and

New

Zealand

Banking

Group,

Ltd.

300,000

2.950%, 

7/22/2030

b,i

311,205

AvalonBay

Communities,

Inc.

175,000

3.500%, 

11/15/2025

197,745

Aviation

Capital

Group,

LLC

500,000

2.875%, 

1/20/2022

i

491,804

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

144

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Financials

(2.2%)

-

continued

Avolon

Holdings

Funding,

Ltd.

$

325,000

5.250%, 

5/15/2024

i

$

303,295

Banco

Santander

Mexico

SA

425,000

5.375%, 

4/17/2025

i

471,134

Banco

Santander

SA

600,000

1.386%, 

(LIBOR

3M

+

1.120%),

4/12/2023

b

599,511

Bank

of

America

Corporation

312,000

4.000%, 

4/1/2024

348,954

500,000

4.200%, 

8/26/2024

560,500

500,000

4.000%, 

1/22/2025

558,786

600,000

3.458%, 

3/15/2025

b

655,672

420,000

3.093%, 

10/1/2025

b

455,650

325,000

3.824%, 

1/20/2028

b

371,850

700,000

2.496%, 

2/13/2031

b

743,726

400,000

2.592%, 

4/29/2031

b

429,449

231,000

5.875%, 

2/7/2042

358,922

Barclays

Bank

plc

78,000

10.179%, 

6/12/2021

i

83,790

Barclays

plc

600,000

4.610%, 

2/15/2023

b

632,593

315,000

3.650%, 

3/16/2025

345,643

Boston

Properties,

LP

450,000

4.500%, 

12/1/2028

543,992

BPCE

SA

588,000

3.500%, 

10/23/2027

i

651,540

Camden

Property

Trust

500,000

3.150%, 

7/1/2029

568,142

Capital

One

Financial

Corporation

500,000

4.200%, 

10/29/2025

561,535

Cascades

USA,

Inc.

280,000

5.125%, 

1/15/2026

i

289,100

CIT

Group,

Inc.

430,000

5.000%, 

8/15/2022

443,975

100,000

5.250%, 

3/7/2025

107,000

Citigroup,

Inc.

655,000

4.400%, 

6/10/2025

743,394

304,000

3.200%, 

10/21/2026

338,332

768,000

3.668%, 

7/24/2028

b

873,231

228,000

4.125%, 

7/25/2028

264,051

425,000

3.520%, 

10/27/2028

b

478,953

180,000

3.878%, 

1/24/2039

b

219,671

324,000

4.650%, 

7/23/2048

455,118

CNA

Financial

Corporation

225,000

3.900%, 

5/1/2029

256,823

Comerica,

Inc.

130,000

3.700%, 

7/31/2023

140,616

Commerzbank

AG

390,000

8.125%, 

9/19/2023

i

450,587

Cooperatieve

Centrale

Raiffeisen-

Boerenleenbank

BA

432,000

3.950%, 

11/9/2022

460,153

686,000

4.625%, 

12/1/2023

759,195

Credit

Acceptance

Corporation

200,000

5.125%, 

12/31/2024

i

203,600

Credit

Agricole

SA

500,000

3.375%, 

1/10/2022

i

518,605

525,000

3.250%, 

1/14/2030

i

576,077

Credit

Suisse

Group

AG

350,000

7.250%, 

9/12/2025

b,i,n

372,313

850,000

2.193%, 

6/5/2026

b,i

875,970

350,000

3.869%, 

1/12/2029

b,i

393,528

Danske

Bank

AS

375,000

3.244%, 

12/20/2025

b,i

402,041

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Financials

(2.2%)

-

continued

Deutsche

Bank

AG

$

190,000

4.250%, 

10/14/2021

$

196,159

450,000

3.961%, 

11/26/2025

b

479,901

Deutsche

Bank

AG

of

New

York

100,000

3.950%, 

2/27/2023

105,228

Discover

Bank

275,000

2.450%, 

9/12/2024

291,722

480,000

4.682%, 

8/9/2028

b

498,043

Duke

Realty,

LP

300,000

2.875%, 

11/15/2029

336,391

ERP

Operating,

LP

75,000

3.375%, 

6/1/2025

83,205

ESH

Hospitality,

Inc.

200,000

5.250%, 

5/1/2025

i

204,296

100,000

4.625%, 

10/1/2027

i

96,230

Fidelity

National

Financial,

Inc.

500,000

5.500%, 

9/1/2022

539,025

First

Horizon

National

Corporation

840,000

4.000%, 

5/26/2025

912,566

GE

Capital

Funding,

LLC

1,825,000

4.400%, 

5/15/2030

i

1,923,096

GE

Capital

International

Funding

Company

735,000

4.418%, 

11/15/2035

759,689

Goldman

Sachs

Group,

Inc.

550,000

4.370%, 

(LIBOR

3M

+

3.922%),

9/3/2020

b,n

534,188

312,000

2.908%, 

6/5/2023

b

324,212

250,000

3.625%, 

2/20/2024

273,722

395,000

4.750%, 

10/21/2045

546,209

HCP,

Inc.

140,000

3.400%, 

2/1/2025

153,467

Healthpeak

Properties,

Inc.

425,000

2.875%, 

1/15/2031

450,907

HSBC

Holdings

plc

300,000

6.875%, 

6/1/2021

b,n

305,842

725,000

3.803%, 

3/11/2025

b

785,179

275,000

3.900%, 

5/25/2026

308,956

700,000

4.950%, 

3/31/2030

856,720

Icahn

Enterprises,

LP

205,000

6.750%, 

2/1/2024

211,150

325,000

6.375%, 

12/15/2025

338,000

ING

Groep

NV

525,000

4.100%, 

10/2/2023

578,554

International

Lease

Finance

Corporation

150,000

5.875%, 

8/15/2022

161,960

J.P.

Morgan

Chase

&

Company

280,000

3.625%, 

5/13/2024

310,733

500,000

3.875%, 

9/10/2024

558,812

550,000

3.125%, 

1/23/2025

603,215

800,000

3.900%, 

7/15/2025

910,976

250,000

3.300%, 

4/1/2026

281,260

575,000

4.203%, 

7/23/2029

b

686,308

425,000

2.522%, 

4/22/2031

b

458,407

470,000

3.882%, 

7/24/2038

b

585,508

Kimco

Realty

Corporation

624,000

3.300%, 

2/1/2025

670,577

Liberty

Mutual

Group,

Inc.

152,000

4.950%, 

5/1/2022

i

162,569

Lloyds

Banking

Group

plc

425,000

2.907%, 

11/7/2023

b

444,629

1,100,000

3.870%, 

7/9/2025

b

1,212,735

MassMutual

Global

Funding

250,000

2.750%, 

6/22/2024

i

269,448

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

145

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Financials

(2.2%)

-

continued

MetLife,

Inc.

$

290,000

4.050%, 

3/1/2045

$

371,463

MGM

Growth

Properties

Operating

Partnership,

LP

140,000

4.625%, 

6/15/2025

i

147,174

Mitsubishi

UFJ

Financial

Group,

Inc.

825,000

3.455%, 

3/2/2023

882,720

390,000

3.287%, 

7/25/2027

435,501

850,000

2.048%, 

7/17/2030

874,500

Morgan

Stanley

152,000

4.085%, 

(LIBOR

3M

+

3.810%),

10/15/2020

b,n

147,633

180,000

4.875%, 

11/1/2022

196,223

355,000

3.125%, 

1/23/2023

377,436

275,000

2.188%, 

4/28/2026

b

289,728

450,000

4.350%, 

9/8/2026

527,299

468,000

3.591%, 

7/22/2028

b

534,629

420,000

3.772%, 

1/24/2029

b

487,159

840,000

3.622%, 

4/1/2031

b

982,279

MPT

Operating

Partnership,

LP

260,000

6.375%, 

3/1/2024

268,125

290,000

4.625%, 

8/1/2029

306,402

Nasdaq,

Inc.

325,000

3.250%, 

4/28/2050

373,005

180,000

3.850%, 

6/30/2026

205,191

Nationwide

Building

Society

325,000

3.622%, 

4/26/2023

b,i

339,199

Outfront

Media

Cap,

LLC

475,000

4.625%, 

3/15/2030

i

444,125

Park

Aerospace

Holdings,

Ltd.

325,000

4.500%, 

3/15/2023

i

307,008

Prudential

Financial,

Inc.

375,000

3.700%, 

3/13/2051

448,470

Quicken

Loans,

Inc.

355,000

5.750%, 

5/1/2025

i

365,982

Realty

Income

Corporation

320,000

4.125%, 

10/15/2026

371,359

Regency

Centers,

LP

550,000

4.125%, 

3/15/2028

617,412

Reinsurance

Group

of

America,

Inc.

460,000

4.700%, 

9/15/2023

507,962

Royal

Bank

of

Scotland

Group

plc

150,000

6.125%, 

12/15/2022

164,334

175,000

6.100%, 

6/10/2023

193,609

300,000

3.875%, 

9/12/2023

325,818

675,000

6.000%, 

12/29/2025

b,n

708,750

475,000

4.445%, 

5/8/2030

b

565,336

Service

Properties

Trust

170,000

4.500%, 

6/15/2023

161,500

100,000

4.750%, 

10/1/2026

88,000

Simon

Property

Group,

LP

304,000

4.250%, 

11/30/2046

355,095

Societe

Generale

SA

234,000

4.750%, 

11/24/2025

i

257,750

Springleaf

Finance

Corporation

320,000

6.875%, 

3/15/2025

357,600

270,000

7.125%, 

3/15/2026

316,529

Sumitomo

Mitsui

Financial

Group,

Inc.

228,000

3.010%, 

10/19/2026

252,764

Synchrony

Financial

85,000

4.250%, 

8/15/2024

90,280

350,000

3.950%, 

12/1/2027

369,324

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Financials

(2.2%)

-

continued

UBS

Group

Funding

Jersey,

Ltd.

$

228,000

4.125%, 

9/24/2025

i

$

261,813

UDR,

Inc.

425,000

2.100%, 

8/1/2032

433,919

Ventas

Realty,

LP

340,000

3.100%, 

1/15/2023

351,229

VICI

Properties,

LP

/

VICI

Note

Company,

Inc.

100,000

4.250%, 

12/1/2026

i

103,000

70,000

3.750%, 

2/15/2027

i

70,525

230,000

4.625%, 

12/1/2029

i

242,075

70,000

4.125%, 

8/15/2030

i

70,840

Voya

Financial,

Inc.

576,000

3.125%, 

7/15/2024

620,920

Wells

Fargo

&

Company

304,000

3.450%, 

2/13/2023

322,819

500,000

4.125%, 

8/15/2023

546,442

285,000

3.000%, 

2/19/2025

309,934

750,000

3.000%, 

4/22/2026

821,841

304,000

3.000%, 

10/23/2026

333,485

775,000

2.393%, 

6/2/2028

b

814,213

550,000

4.900%, 

11/17/2045

726,575

Total

64,406,279

Mortgage-Backed

Securities

(9.5%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

15,819,329

3.000%, 

3/25/2050

16,751,749

8,328,952

3.000%, 

4/1/2050

8,819,876

416,200

3.500%, 

7/1/2047

440,317

Federal

National

Mortgage

Association

942,147

3.230%, 

11/1/2020

941,542

3,492,648

4.500%, 

5/1/2048

3,757,566

6,542,273

3.500%, 

10/1/2048

6,908,540

291,927

3.500%, 

6/1/2049

308,672

7,572,180

3.500%, 

8/1/2049

8,014,655

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

22,600,000

2.000%, 

8/1/2035

e

23,507,531

23,965,000

2.500%, 

8/1/2035

e

25,152,017

19,350,000

2.000%, 

9/1/2035

e

20,099,813

12,750,000

1.500%, 

10/15/2035

e

13,029,404

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

3,200,000

2.000%, 

8/1/2050

e

3,315,250

55,868,000

2.500%, 

8/1/2050

e,o

58,689,770

38,550,000

2.000%, 

9/1/2050

e,o

39,864,632

29,862,000

3.000%, 

9/1/2043

e

31,521,981

12,145,780

4.000%, 

7/1/2048

12,893,922

Total

274,017,237

Technology

(0.9%)

Apple,

Inc.

85,000

3.000%, 

2/9/2024

92,029

312,000

3.200%, 

5/11/2027

357,401

260,000

3.000%, 

6/20/2027

295,164

670,000

3.000%, 

11/13/2027

764,769

920,000

3.750%, 

9/12/2047

1,185,291

Applied

Materials,

Inc.

160,000

3.300%, 

4/1/2027

185,297

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

146

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Technology

(0.9%)

-

continued

Avnet,

Inc.

$

225,000

3.750%, 

12/1/2021

$

231,990

Baidu,

Inc.

560,000

3.425%, 

4/7/2030

g

626,371

Broadcom

Corporation

143,000

3.875%, 

1/15/2027

158,843

380,000

3.500%, 

1/15/2028

412,434

Broadcom,

Inc.

625,000

4.750%, 

4/15/2029

i

728,538

275,000

5.000%, 

4/15/2030

i

326,801

CDW,

LLC

250,000

4.250%, 

4/1/2028

267,400

CommScope

Technologies

Finance,

LLC

560,000

6.000%, 

6/15/2025

i

572,152

Diamond

1

Finance

Corporation

485,000

6.020%, 

6/15/2026

i

568,588

Diamond

Sports

Group,

LLC

160,000

5.375%, 

8/15/2026

i

123,211

310,000

6.625%, 

8/15/2027

i

169,725

Fiserv,

Inc.

400,000

2.250%, 

6/1/2027

428,022

580,000

2.650%, 

6/1/2030

634,538

Gartner,

Inc.

140,000

4.500%, 

7/1/2028

i

147,000

Harland

Clarke

Holdings

Corporation

270,000

8.375%, 

8/15/2022

i

220,725

Hewlett

Packard

Enterprise

Company

400,000

4.650%, 

10/1/2024

449,791

Intel

Corporation

475,000

3.100%, 

2/15/2060

555,256

Iron

Mountain,

Inc.

220,000

4.875%, 

9/15/2029

i

229,185

210,000

5.250%, 

7/15/2030

i

220,237

KLA

Corporation

840,000

3.300%, 

3/1/2050

940,610

Lam

Research

Corporation

700,000

2.875%, 

6/15/2050

798,454

Marvell

Technology

Group,

Ltd.

335,000

4.200%, 

6/22/2023

362,525

450,000

4.875%, 

6/22/2028

553,520

Micron

Technology,

Inc.

275,000

2.497%, 

4/24/2023

287,080

Microsoft

Corporation

540,000

2.675%, 

6/1/2060

593,495

475,000

4.200%, 

11/3/2035

640,215

1,360,000

3.700%, 

8/8/2046

1,766,844

NCR

Corporation

530,000

6.125%, 

9/1/2029

i

580,589

NVIDIA

Corporation

700,000

3.500%, 

4/1/2040

835,667

NXP

BV/NXP

Funding,

LLC

575,000

4.875%, 

3/1/2024

i

646,798

Open

Text

Corporation

380,000

4.125%, 

2/15/2030

i

399,000

Oracle

Corporation

780,000

2.950%, 

5/15/2025

861,154

875,000

2.800%, 

4/1/2027

971,583

420,000

3.850%, 

7/15/2036

517,135

700,000

3.600%, 

4/1/2040

828,369

Plantronics,

Inc.

350,000

5.500%, 

5/31/2023

g,i

330,820

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Technology

(0.9%)

-

continued

PTC,

Inc.

$

100,000

3.625%, 

2/15/2025

i

$

103,677

90,000

4.000%, 

2/15/2028

i

94,532

Sensata

Technologies

BV

240,000

5.000%, 

10/1/2025

i

259,200

SS&C

Technologies,

Inc.

430,000

5.500%, 

9/30/2027

i

462,250

Texas

Instruments,

Inc.

540,000

4.150%, 

5/15/2048

751,187

Tyco

Electronics

Group

SA

78,000

3.450%, 

8/1/2024

85,236

156,000

3.125%, 

8/15/2027

172,178

Vmware,

Inc.

575,000

4.650%, 

5/15/2027

658,202

Total

24,451,078

Transportation

(0.2%)

Air

Canada

Pass

Through

Trust

53,007

3.875%, 

3/15/2023

i

45,091

Air

Lease

Corporation

130,000

3.500%, 

1/15/2022

131,531

Burlington

Northern

Santa

Fe,

LLC

235,000

5.750%, 

5/1/2040

353,824

590,000

5.050%, 

3/1/2041

831,300

260,000

4.450%, 

3/15/2043

354,514

CSX

Corporation

420,000

3.800%, 

4/15/2050

533,183

126,000

3.700%, 

11/1/2023

138,833

375,000

3.350%, 

9/15/2049

437,214

Delta

Air

Lines,

Inc.

300,000

7.000%, 

5/1/2025

i

320,625

Mileage

Plus

Holdings,

LLC

200,000

6.500%, 

6/20/2027

i

207,000

NCL

Corporation,

Ltd.

180,000

3.625%, 

12/15/2024

i

118,962

Penske

Truck

Leasing

Company,

LP

500,000

3.375%, 

2/1/2022

i

516,013

Southwest

Airlines

Company

560,000

4.750%, 

5/4/2023

587,666

125,000

5.125%, 

6/15/2027

131,152

United

Parcel

Service,

Inc.

560,000

4.450%, 

4/1/2030

714,139

XPO

Logistics,

Inc.

200,000

6.125%, 

9/1/2023

i

203,938

334,000

6.750%, 

8/15/2024

i

359,204

Total

5,984,189

U.S.

Government

&

Agencies

(10.0%)

U.S.

Treasury

Bonds

2,055,000

2.250%, 

11/15/2027

2,326,966

21,400,000

2.875%, 

5/15/2028

25,395,781

5,090,000

5.250%, 

11/15/2028

7,080,468

10,000,000

1.625%, 

8/15/2029

10,997,266

10,000,000

1.500%, 

2/15/2030

10,913,281

1,175,000

4.375%, 

5/15/2040

1,906,988

560,000

3.000%, 

5/15/2042

773,347

15,871,000

2.500%, 

5/15/2046

20,561,004

13,950,000

2.875%, 

5/15/2049

19,721,268

U.S.

Treasury

Notes

750,000

1.375%, 

8/31/2020

750,721

500,000

1.375%, 

9/30/2020

501,002

220,000

1.875%, 

12/15/2020

221,435

2,750,000

2.500%, 

2/28/2021

2,787,383

1,500,000

1.375%, 

5/31/2021

1,515,586

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

147

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

U.S.

Government

&

Agencies

(10.0%)

-

continued

$

4,773,000

1.125%, 

8/31/2021

$

4,824,086

23,940,000

1.500%, 

9/30/2021

24,318,738

420,000

1.125%, 

2/28/2022

426,563

21,500,000

0.125%, 

6/30/2022

21,501,680

3,710,000

1.875%, 

7/31/2022

3,839,125

19,860,000

2.000%, 

11/30/2022

20,724,996

5,270,000

2.500%, 

3/31/2023

5,602,669

16,750,000

2.500%, 

1/31/2024

18,118,789

6,640,000

2.125%, 

7/31/2024

7,156,156

10,000,000

1.250%, 

8/31/2024

10,435,938

5,740,000

2.250%, 

11/15/2024

6,243,595

6,340,000

2.125%, 

11/30/2024

6,867,260

750,000

1.375%, 

1/31/2025

789,522

9,100,000

2.625%, 

1/31/2026

10,267,359

33,940,000

2.500%, 

2/28/2026

38,118,863

3,700,000

0.500%, 

4/30/2027

3,730,063

Total

288,417,898

Utilities

(0.8%)

AES

Corporation

275,000

5.125%, 

9/1/2027

297,844

Ameren

Illinois

Company

390,000

4.500%, 

3/15/2049

553,422

American

Water

Capital

Corporation

700,000

2.800%, 

5/1/2030

789,130

Appalachian

Power

Company

155,000

3.300%, 

6/1/2027

170,725

Arizona

Public

Service

Company

300,000

3.500%, 

12/1/2049

352,087

Berkshire

Hathaway

Energy

Company

265,000

4.500%, 

2/1/2045

363,130

Calpine

Corporation

310,000

4.500%, 

2/15/2028

i

320,075

CenterPoint

Energy,

Inc.

130,000

3.850%, 

2/1/2024

143,027

375,000

2.500%, 

9/1/2024

400,215

355,000

4.250%, 

11/1/2028

423,074

CMS

Energy

Corporation

228,000

2.950%, 

2/15/2027

243,647

Commonwealth

Edison

Company

290,000

3.700%, 

3/1/2045

360,865

Consolidated

Edison

Company

of

New

York,

Inc.

825,000

4.125%, 

5/15/2049

1,085,357

Consolidated

Edison,

Inc.

114,000

4.500%, 

12/1/2045

152,681

Consumers

Energy

Company

475,000

4.350%, 

4/15/2049

675,420

DTE

Electric

Company

215,000

3.700%, 

3/15/2045

269,955

245,000

3.700%, 

6/1/2046

307,036

Duke

Energy

Carolinas,

LLC

585,000

3.700%, 

12/1/2047

744,044

Duke

Energy

Corporation

304,000

3.750%, 

9/1/2046

374,560

Duke

Energy

Florida,

LLC

210,000

3.200%, 

1/15/2027

239,776

Duke

Energy

Indiana,

LLC

310,000

3.750%, 

5/15/2046

390,354

Edison

International

525,000

5.750%, 

6/15/2027

611,803

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Utilities

(0.8%)

-

continued

Energy

Transfer

Operating,

LP

$

550,000

5.200%, 

2/1/2022

$

572,552

Exelon

Corporation

515,000

4.700%, 

4/15/2050

711,546

120,000

5.100%, 

6/15/2045

164,493

459,000

4.450%, 

4/15/2046

596,063

FirstEnergy

Corporation

100,000

2.850%, 

7/15/2022

102,538

605,000

4.850%, 

7/15/2047

747,683

ITC

Holdings

Corporation

84,000

4.050%, 

7/1/2023

90,716

152,000

5.300%, 

7/1/2043

209,733

Mississippi

Power

Company

310,000

3.950%, 

3/30/2028

360,151

Monongahela

Power

Company

210,000

5.400%, 

12/15/2043

i

304,818

National

Rural

Utilities

Cooperative

Finance

Corporation

250,000

3.900%, 

11/1/2028

299,527

525,000

3.700%, 

3/15/2029

626,816

NextEra

Energy

Operating

Partners,

LP

520,000

3.875%, 

10/15/2026

i

543,400

NiSource

Finance

Corporation

156,000

3.490%, 

5/15/2027

178,660

435,000

5.650%, 

2/1/2045

637,878

NiSource,

Inc.

600,000

3.600%, 

5/1/2030

706,692

Pacific

Gas

and

Electric

Company

365,000

3.300%, 

12/1/2027

f

385,665

365,000

3.950%, 

12/1/2047

f

387,639

PG&E

Corporation

140,000

5.000%, 

7/1/2028

144,053

110,000

5.250%, 

7/1/2030

114,400

PPL

Capital

Funding,

Inc.

365,000

5.000%, 

3/15/2044

474,801

PPL

Electric

Utilities

Corporation

234,000

3.950%, 

6/1/2047

306,639

Public

Service

Electric

&

Gas

Company

390,000

3.000%, 

5/15/2027

436,503

San

Diego

Gas

and

Electric

Company

540,000

4.150%, 

5/15/2048

709,239

South

Carolina

Electric

&

Gas

Company

685,000

5.100%, 

6/1/2065

1,100,491

Southern

California

Edison

Company

320,000

4.000%, 

4/1/2047

380,535

Southern

Company

424,000

3.250%, 

7/1/2026

481,450

300,000

4.400%, 

7/1/2046

380,755

Southern

Company

Gas

Capital

Corporation

390,000

4.400%, 

5/30/2047

500,241

Southwestern

Electric

Power

Company

110,000

3.900%, 

4/1/2045

127,578

Suburban

Propane

Partners,

LP

260,000

5.875%, 

3/1/2027

264,550

Talen

Energy

Supply,

LLC

260,000

7.625%, 

6/1/2028

i

271,700

TerraForm

Power

Operating,

LLC

240,000

5.000%, 

1/31/2028

i

264,600

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

148

Principal

Amount

Long-Term

Fixed

Income

(31.8%)

Value

Utilities

(0.8%)

-

continued

Virginia

Electric

and

Power

Company

$

375,000

4.600%, 

12/1/2048

$

542,632

Vistra

Operations

Company,

LLC

410,000

5.000%, 

7/31/2027

i

437,675

Total

23,832,639

Total

Long-Term

Fixed

Income

(cost

$857,017,079)

915,363,965

Shares

Common

Stock

(

18.5%

)

Value

Communications

Services

(0.7%)

1,858

Activision

Blizzard,

Inc.

153,527

1,886

Alphabet,

Inc.,

Class

A

h

2,806,274

1,439

Alphabet,

Inc.,

Class

C

h

2,133,979

24,689

AMC

Entertainment

Holdings,

Inc.

99,744

1,888

AMC

Networks,

Inc.

h

43,613

6,510

AT&T,

Inc.

192,566

24,615

Auto

Trader

Group

plc

i

171,949

2,731

Carsales.com,

Ltd.

35,703

9,792

Cinemark

Holdings,

Inc.

115,839

28

Cogeco

Communications,

Inc.

2,134

37,965

Comcast

Corporation

1,624,902

5,786

Consolidated

Communications

Holdings,

Inc.

h

42,238

1,469

Deutsche

Telekom

AG

24,525

14,440

Discovery,

Inc.,

Class

A

g,h

304,684

10,455

DISH

Network

Corporation

h

335,710

6,530

EchoStar

Corporation

h

178,269

7,398

Facebook,

Inc.

h

1,876,651

62,012

Gannett

Company,

Inc.

91,778

2,450

Hemisphere

Media

Group,

Inc.

h

21,560

13,000

HKT

Trust

and

HKT,

Ltd.

19,155

466

IAC/InterActiveCorp

h

61,708

15,290

Interpublic

Group

of

Companies,

Inc.

275,984

457

Ipsos

SA

12,129

1,200

KDDI

Corporation

38,157

6,348

Lions

Gate

Entertainment

Corporation,

Class

A

h

48,626

8,382

Lions

Gate

Entertainment

Corporation,

Class

B

h

59,596

27,953

Live

Nation

Entertainment,

Inc.

h

1,308,480

806

Madison

Square

Garden

Entertainment

Corporation

h

57,113

420

Match

Group,

Inc.

h

43,134

13,698

Mediaset

Espana

Comunicacion

SA

h

44,806

9,340

Meredith

Corporation

134,122

3,406

News

Corporation

43,461

100

NEXON

Company,

Ltd.

2,569

100

Nintendo

Company,

Ltd.

43,981

600

Nippon

Telegraph

&

Telephone

Corporation

13,927

1,900

NTT

DOCOMO,

Inc.

52,309

28,264

ORBCOMM,

Inc.

h

118,991

40,851

QuinStreet,

Inc.

h

476,935

1,101

Rightmove

plc

7,946

5,438

RingCentral,

Inc.

h

1,578,488

3,202

Scholastic

Corporation

76,624

5,835

Seven

West

Media,

Ltd.

h

413

6,800

SoftBank

Corporation

91,026

1,400

SoftBank

Group

Corporation

88,302

5,556

Take-Two

Interactive

Software,

Inc.

h

911,295

Shares

Common

Stock

(18.5%)

Value

Communications

Services

(0.7%)

-

continued

4,300

TV

Asahi

Holdings

Corporation

$

58,803

10,416

Twitter,

Inc.

h

379,142

4,283

Uber

Technologies,

Inc.

h

129,604

37,704

Verizon

Communications,

Inc.

2,167,226

1,054

ViacomCBS,

Inc.

27,478

9,412

Walt

Disney

Company

1,100,639

977

Wolters

Kluwer

NV

76,947

7,937

Zillow

Group,

Inc.

h

540,430

Total

20,345,191

Consumer

Discretionary

(2.2%)

3,525

Aaron's,

Inc.

183,934

7,221

Abercrombie

&

Fitch

Company

69,538

6,033

Adient

plc

h

100,389

2,136

Amazon.com,

Inc.

h

6,759,756

12,374

American

Eagle

Outfitters,

Inc.

123,740

601

American

Public

Education,

Inc.

h

17,495

300

AOKI

Holdings,

Inc.

1,544

26,427

Aptiv

plc

2,054,699

10,297

At

Home

Group,

Inc.

h

127,889

500

Autobacs

Seven

Company,

Ltd.

5,826

502

Autogrill

SPA

h

2,401

414

AutoZone,

Inc.

h

499,872

7,682

B&M

European

Value

Retail

SA

46,186

9,028

Beazer

Homes

USA,

Inc.

h

101,023

18,889

Bed

Bath

&

Beyond,

Inc.

204,379

912

Berkeley

Group

Holdings

plc

52,915

3,266

Big

Lots,

Inc.

128,484

7,670

BJ's

Restaurants,

Inc.

153,860

502

Bloomin'

Brands,

Inc.

5,783

544

Booking

Holdings,

Inc.

h

904,199

400

Bridgestone

Corporation

11,782

20,944

Bright

Horizons

Family

Solutions,

Inc.

h

2,246,035

295

Bunzl

plc

8,451

10,573

Burlington

Stores,

Inc.

h

1,987,724

6,661

Caesars

Entertainment,

Inc.

h

206,824

4,628

Caleres,

Inc.

29,203

6,385

Camping

World

Holdings,

Inc.

233,819

11,114

Capri

Holdings,

Ltd.

h

166,488

5,158

Carnival

Corporation

71,593

13,700

Cedar

Fair,

LP

326,608

8,429

Century

Casinos,

Inc.

h

33,969

3,310

Century

Communities,

Inc.

h

117,902

14,891

Chewy,

Inc.

g,h

781,629

60,311

Chico's

FAS,

Inc.

76,595

1,284

Children's

Place,

Inc.

31,342

1,401

Chipotle

Mexican

Grill,

Inc.

h

1,618,379

700

Chiyoda

Company,

Ltd.

6,690

182

Churchill

Downs,

Inc.

25,211

68

Cie

Generale

des

Etablissements

Michelin

7,042

7,200

Citizen

Watch

Company,

Ltd.

19,625

423

Collins

Foods,

Ltd.

2,860

55,418

Cooper-Standard

Holdings,

Inc.

h

593,527

2,673

Cracker

Barrel

Old

Country

Store,

Inc.

295,286

11,679

Crocs,

Inc.

h

419,743

9,545

Culp,

Inc.

105,949

9,263

D.R.

Horton,

Inc.

612,840

3,973

Dana,

Inc.

45,411

5,870

Darden

Restaurants,

Inc.

445,533

8,517

Dave

&

Buster's

Entertainment,

Inc.

105,100

1,978

Deckers

Outdoor

Corporation

h

413,896

4,264

Denny's

Corporation

h

37,886

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

149

Shares

Common

Stock

(18.5%)

Value

Consumer

Discretionary

(2.2%)

-

continued

3,200

Denso

Corporation

$

118,376

10,029

Designer

Brands,

Inc.

59,271

2,236

Dick's

Sporting

Goods,

Inc.

102,006

3,138

Dine

Brands

Global,

Inc.

142,559

2,282

Dollarama,

Inc.

83,446

235

Dometic

Group

AB

i

2,294

3,525

Domino's

Pizza,

Inc.

1,362,800

237

Dorman

Products,

Inc.

h

19,375

42,041

Duluth

Holdings,

Inc.

g,h

310,683

13,269

Emerald

Holding,

Inc.

36,092

7,028

Ethan

Allen

Interiors,

Inc.

83,212

13,116

Etsy,

Inc.

h

1,552,672

285

Europris

ASA

i

1,401

100

Exedy

Corporation

1,235

7,429

Express,

Inc.

h

7,503

3,994

Extended

Stay

America,

Inc.

45,572

22,750

Five

Below,

Inc.

h

2,477,702

8,818

Foot

Locker,

Inc.

259,161

7,999

Fossil,

Inc.

h

26,477

684

Fox

Factory

Holding

Corporation

h

60,876

13,000

Galaxy

Entertainment

Group,

Ltd.

88,657

13,560

GameStop

Corporation

h

54,376

4,458

Gap,

Inc.

59,603

4,970

Garrett

Motion,

Inc.

h

29,224

4,801

Genuine

Parts

Company

432,810

3,224

G-III

Apparel

Group,

Ltd.

h

31,885

8,804

Goodyear

Tire

&

Rubber

Company

79,324

1,815

Grand

Canyon

Education,

Inc.

h

161,063

1,672

GVC

Holdings

plc

14,470

58

Hermes

International

47,023

9,453

Home

Depot,

Inc.

2,509,677

858

Hooker

Furniture

Corporation

18,361

2,753

Hovnanian

Enterprises,

Inc.

h

64,145

1,148

Husqvarna

AB

10,986

2,212

Industria

de

Diseno

Textil

SA

58,613

74

InterContinental

Hotels

Group

plc

3,409

1,181

Jack

in

the

Box,

Inc.

96,972

5,668

KB

Home

190,672

11,130

Knoll,

Inc.

130,332

10,442

Kohl's

Corporation

198,816

4,231

Kontoor

Brands,

Inc.

81,066

13,979

L

Brands,

Inc.

341,227

7,849

Lear

Corporation

866,373

12,464

Leggett

&

Platt,

Inc.

499,682

671

Lithia

Motors,

Inc.

153,760

10,608

Lowe's

Companies,

Inc.

1,579,637

2,239

Lululemon

Athletica,

Inc.

h

728,996

16

LVMH

Moet

Hennessy

Louis

Vuitton

SE

6,957

20,668

Macy's,

Inc.

125,248

806

Madison

Square

Garden

Sports

Corporation

h

123,874

5,665

Marcus

Corporation

78,234

996

Marriott

Vacations

Worldwide

Corporation

84,321

19,479

Mattel,

Inc.

h

216,412

5,100

McDonald's

Corporation

990,828

903

Melia

Hotels

International

SA

h

3,343

44

Mercadolibre,

Inc.

h

49,483

18,533

Michaels

Companies,

Inc.

h

133,067

4,115

Modine

Manufacturing

Company

h

22,386

6,128

Mohawk

Industries,

Inc.

h

489,321

9,437

Moneysupermarket.com

Group

plc

36,154

12,841

Movado

Group,

Inc.

123,787

545

Netflix,

Inc.

h

266,440

2,600

NHK

Spring

Company,

Ltd.

14,632

Shares

Common

Stock

(18.5%)

Value

Consumer

Discretionary

(2.2%)

-

continued

200

Nihon

Unisys,

Ltd.

$

6,052

1,821

NIKE,

Inc.

177,748

1,600

Nissan

Motor

Company,

Ltd.

5,473

6,011

Nordstrom,

Inc.

82,291

15,444

Norwegian

Cruise

Line

Holdings,

Ltd.

h

210,656

552

NVR,

Inc.

h

2,169,443

4,143

Office

Depot,

Inc.

91,436

17,026

Ollie's

Bargain

Outlet

Holdings,

Inc.

h

1,789,433

400

Onward

Holdings

Company,

Ltd.

982

100

Oriental

Land

Company,

Ltd.

12,064

325

Pandox

AB

4,103

1,812

Park

Hotels

&

Resorts,

Inc.

14,985

64,654

Party

City

Holdco,

Inc.

h

106,033

15,331

Penn

National

Gaming,

Inc.

h

518,954

46,591

Planet

Fitness,

Inc.

h

2,432,050

70,325

Playa

Hotels

and

Resorts

NV

h

255,280

500

PLENUS

Company,

Ltd.

7,639

297

Pool

Corporation

94,060

9,348

PulteGroup,

Inc.

407,573

2,557

PVH

Corporation

124,424

16,316

Qurate

Retail,

Inc.

h

178,008

1,720

Red

Robin

Gourmet

Burgers,

Inc.

h

15,033

31,291

Red

Rock

Resorts,

Inc.

342,949

5,559

Redrow

plc

31,036

624

Restaurant

Brands

International,

Inc.

35,268

2,306

RH

h

662,814

900

Rinnai

Corporation

73,767

4,639

Royal

Caribbean

Cruises,

Ltd.

225,966

15,089

Ruth's

Hospitality

Group,

Inc.

101,021

4,471

Sally

Beauty

Holdings,

Inc.

h

51,908

1,300

Sangetsu

Company,

Ltd.

17,782

1,515

Scandic

Hotels

Group

AB

i

5,235

1,218

SeaWorld

Entertainment,

Inc.

h

17,624

500

SHIMAMURA

Company,

Ltd.

34,769

2,283

Signet

Jewelers,

Ltd.

24,519

14,499

Six

Flags

Entertainment

Corporation

252,138

13,255

Skyline

Corporation

h

374,189

4,689

Sleep

Number

Corporation

h

218,038

800

Sony

Corporation

62,156

9,180

Sony

Corporation

ADR

715,673

11,005

Standard

Motor

Products,

Inc.

500,507

12,120

Stoneridge,

Inc.

h

251,126

594

Strategic

Education,

Inc.

74,969

12,200

Sumitomo

Electric

Industries,

Ltd.

136,306

300

Sumitomo

Forestry

Company,

Ltd.

3,354

6,000

Sumitomo

Rubber

Industries,

Ltd.

49,916

635

Super

Retail

Group,

Ltd.

4,013

17,060

Tailored

Brands,

Inc.

5,171

200

Takara

Standard

Company,

Ltd.

2,701

20,264

Taylor

Morrison

Home

Corporation

h

475,191

21,471

Taylor

Wimpey

plc

33,120

13,184

Tenneco,

Inc.

h

97,693

32,169

Texas

Roadhouse,

Inc.

1,807,576

6,740

Thor

Industries,

Inc.

768,293

195

Thule

Group

AB

i

5,800

13,722

TJX

Companies,

Inc.

713,407

13,496

Toll

Brothers,

Inc.

515,547

5,502

TopBuild

Corporation

h

725,824

900

Toyoda

Gosei

Company,

Ltd.

17,648

300

Toyota

Motor

Corporation

17,809

5,551

Tri

Pointe

Homes,

Inc.

h

92,813

1,034

Tupperware

Brands

Corporation

15,955

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

150

Shares

Common

Stock

(18.5%)

Value

Consumer

Discretionary

(2.2%)

-

continued

5,324

Ulta

Beauty,

Inc.

h

$

1,027,479

2,153

Urban

Outfitters,

Inc.

h

35,611

2,095

Vail

Resorts,

Inc.

402,303

97

Wayfair,

Inc.

h

25,811

3,876

William

Hill

plc

5,277

348

Williams-Sonoma,

Inc.

30,318

6,316

Wingstop,

Inc.

986,875

1,859

Workhorse

Group,

Inc.

h

28,852

1,567

YETI

Holdings,

Inc.

h

76,611

1,897

Yum!

Brands,

Inc.

172,722

500

Z

Holdings

Corporation

2,659

12,701

Zumiez,

Inc.

h

293,393

Total

62,030,435

Consumer

Staples

(0.6%)

1,085

Andersons,

Inc.

15,429

800

Arcs

Company,

Ltd.

18,561

5,438

BJ's

Wholesale

Club

Holdings,

Inc.

h

217,792

206

British

American

Tobacco

plc

6,808

1,007

Carlsberg

AS

148,723

10,122

Casey's

General

Stores,

Inc.

1,611,321

1,378

Central

Garden

&

Pet

Company

h

52,171

33,439

Coca-Cola

Company

1,579,658

15,805

Colgate-Palmolive

Company

1,220,146

2,469

Costco

Wholesale

Corporation

803,734

53,450

Cott

Corporation

759,525

741

Davide

Campari-Milano

NV

7,481

29,731

e.l.f.

Beauty,

Inc.

h

530,996

2,669

Edgewell

Personal

Care

Company

h

79,776

214

Elior

Participations

SCA

i

1,185

1,094

ForFarmers

BV

7,023

28

George

Weston,

Ltd.

2,115

255

Glanbia

plc

3,096

18,209

Hain

Celestial

Group,

Inc.

h

618,742

85

Heineken

NV

8,234

1,600

Japan

Tobacco,

Inc.

27,348

3,552

John

B.

Sanfilippo

&

Son,

Inc.

313,180

300

Kao

Corporation

21,763

700

Kewpie

Corporation

12,460

2,923

Kimberly-Clark

Corporation

444,413

466

Lamb

Weston

Holdings,

Inc.

27,997

6

Lindt

&

Spruengli

AG

46,451

169

L'Oreal

SA

56,721

952

McCormick

&

Company,

Inc.

185,545

300

Ministop

Company,

Ltd.

4,108

10,398

Monster

Beverage

Corporation

h

816,035

2,825

Nestle

SA

335,954

645

Orkla

ASA

6,344

9,556

PepsiCo,

Inc.

1,315,479

6,193

Philip

Morris

International,

Inc.

475,684

7,656

Procter

&

Gamble

Company

1,003,855

51

Royal

Unibrew

AS

5,160

2,884

Seneca

Foods

Corporation

h

112,995

700

Seven

&

I

Holdings

Company,

Ltd.

21,154

300

Shiseido

Company,

Ltd.

16,715

18,207

Simply

Good

Foods

Company

h

437,696

2,155

Sprouts

Farmers

Markets,

Inc.

h

56,849

1,300

Sugi

Holdings

Company,

Ltd.

93,932

1,800

Sundrug

Company,

Ltd.

61,256

2,467

TreeHouse

Foods,

Inc.

h

108,104

47,349

Turning

Point

Brands,

Inc.

1,556,835

100

Unicharm

Corporation

4,523

682

Unilever

NV

40,300

8,437

Vector

Group,

Ltd.

74,414

Shares

Common

Stock

(18.5%)

Value

Consumer

Staples

(0.6%)

-

continued

17,768

Wal-Mart

Stores,

Inc.

$

2,299,179

Total

17,674,965

Energy

(0.4%)

25,132

Abraxas

Petroleum

Corporation

h

5,077

14,248

Antero

Midstream

Corporation

80,786

18,171

Apache

Corporation

278,925

61,882

Archrock,

Inc.

412,134

23,126

BP

plc

ADR

509,697

256

Canadian

Natural

Resources,

Ltd.

4,516

26,350

Centennial

Resource

Development,

Inc.

h

20,745

5,872

CGG

SA

h

5,026

4,785

ChampionX

Corporation

h

45,505

10,796

Chevron

Corporation

906,216

26,495

Cimarex

Energy

Company

648,068

21,972

CNX

Resources

Corporation

h

212,030

9,852

Concho

Resources,

Inc.

517,624

6,270

ConocoPhillips

234,435

11,021

Continental

Resources,

Inc.

190,553

10,569

Core

Laboratories

NV

225,437

5,316

Delek

US

Holdings,

Inc.

92,924

36,755

Devon

Energy

Corporation

385,560

14,331

Diamondback

Energy,

Inc.

571,234

11,400

Eneos

Holdings,

Inc.

39,975

6,606

Eni

SPA

58,845

50,793

EnLink

Midstream,

LLC

124,443

16,133

Enterprise

Products

Partners,

LP

283,941

7,798

EOG

Resources,

Inc.

365,336

26,944

EQT

Corporation

391,227

18,998

Equitrans

Midstream

Corporation

183,331

2,152

Evolution

Petroleum

Corporation

5,638

14,703

Exterran

Corporation

h

73,074

12,810

Exxon

Mobil

Corporation

539,045

21,198

Frank's

International

NV

h

48,331

118

Gaztransport

Et

Technigaz

SA

10,972

17,938

Gran

Tierra

Energy,

Inc.

h

5,202

15,734

Halliburton

Company

225,468

33,555

Helmerich

&

Payne,

Inc.

598,286

2,703

John

Wood

Group

plc

6,719

27,299

Kosmos

Energy,

Ltd.

43,951

13,273

Liberty

Oilfield

Services,

Inc.

74,992

148

Lundin

Energy

AB

3,452

85,018

Marathon

Oil

Corporation

466,749

13,987

Marathon

Petroleum

Corporation

534,303

1,387

Nabors

Industries,

Ltd.

58,823

8,917

NexTier

Oilfield

Solutions,

Inc.

h

22,471

48,622

Nine

Energy

Service,

Inc.

h

90,437

21,739

Oceaneering

International,

Inc.

h

122,173

565

OMV

AG

h

17,844

1,284

ONEOK,

Inc.

35,836

44,221

Patterson-UTI

Energy,

Inc.

171,356

4,242

PBF

Energy,

Inc.

36,821

2,038

PDC

Energy,

Inc.

h

29,062

9,863

Peabody

Energy

Corporation

30,773

5,881

Pioneer

Natural

Resources

Company

569,987

14,247

Plains

GP

Holdings,

LP

113,121

7,169

ProPetro

Holding

Corporation

h

38,498

26,316

QEP

Resources,

Inc.

38,685

14,485

Range

Resources

Corporation

93,573

6,005

Royal

Dutch

Shell

plc,

Class

A

87,767

9,720

Royal

Dutch

Shell

plc,

Class

B

136,435

6,394

RPC,

Inc.

h

18,990

8,039

Schlumberger,

Ltd.

145,827

15,068

SEACOR

Holdings,

Inc.

h

438,177

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

151

Shares

Common

Stock

(18.5%)

Value

Energy

(0.4%)

-

continued

4,279

SM

Energy

Company

$

12,623

51,754

Southwestern

Energy

Company

h

125,762

18,108

Talos

Energy,

Inc.

h

123,315

5,675

Targa

Resources

Corporation

103,739

971

TC

Energy

Corporation

44,257

1,128

Tenaris

SA

ADR

13,198

3,587

Total

SE

135,746

27,249

Transocean,

Ltd.

h

55,588

8,594

Tullow

Oil

plc

2,874

3,591

Valero

Energy

Corporation

201,922

587

Vermilion

Energy

Inc

2,393

186

Washington

H.

Soul

Pattinson

and

Company,

Ltd.

2,595

693

Whitecap

Resources,

Inc.

1,143

97

Woodside

Petroleum,

Ltd.

1,380

81,661

WPX

Energy,

Inc.

h

487,516

Total

13,040,479

Financials

(2.5%)

431

1st

Source

Corporation

14,275

5,212

AB

Industrivarden

h

128,567

12,775

Aflac,

Inc.

454,407

15,665

AG

Mortgage

Investment

Trust,

Inc.

43,705

2,400

AIA

Group,

Ltd.

21,641

16,803

Air

Lease

Corporation

440,575

1,377

Alleghany

Corporation

719,235

1,449

Allianz

SE

300,631

18,701

Ally

Financial,

Inc.

375,890

2,726

American

Equity

Investment

Life

Holding

Company

69,377

3,730

American

Express

Company

348,084

35,653

American

Financial

Group,

Inc.

2,166,633

9,540

American

International

Group,

Inc.

306,616

2,302

Ameriprise

Financial,

Inc.

353,656

13,125

Ameris

Bancorp

302,859

2,232

Aon

plc

458,051

100

Aozora

Bank,

Ltd.

1,600

6,174

Apollo

Commercial

Real

Estate

Finance,

Inc.

57,418

2,804

Argo

Group

International

Holdings,

Ltd.

93,962

10,682

Arthur

J.

Gallagher

&

Company

1,148,208

4,817

Artisan

Partners

Asset

Management,

Inc.

174,520

22,862

Associated

Banc-Corp

293,548

49,642

Assured

Guaranty,

Ltd.

1,083,685

1,057

Baloise

Holding

AG

161,272

10,292

Bank

Leumi

Le-Israel

BM

52,174

79,520

Bank

of

America

Corporation

1,978,458

1,625

Bank

of

Marin

Bancorp

51,041

429

Bank

of

Montreal

23,470

12,356

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

321,627

494

Bank

OZK

11,881

9,616

BankFinancial

Corporation

70,101

4,401

BankUnited,

Inc.

88,636

11,656

Banner

Corporation

412,972

7,312

Berkshire

Hathaway,

Inc.

h

1,431,543

11,980

Berkshire

Hills

Bancorp,

Inc.

119,321

2,356

BlackRock,

Inc.

1,354,724

4,464

Blackstone

Mortgage

Trust,

Inc.

107,448

2,642

BOK

Financial

Corporation

147,159

47,093

Boston

Private

Financial

Holdings,

Inc.

277,142

31,460

Bridgewater

Bancshares,

Inc.

h

292,263

5,953

Brighthouse

Financial,

Inc.

h

168,708

Shares

Common

Stock

(18.5%)

Value

Financials

(2.5%)

-

continued

26,289

BrightSphere

Investment

Group

$

353,324

4,047

Brown

&

Brown,

Inc.

184,017

3,694

Byline

Bancorp,

Inc.

47,874

13,400

Capital

One

Financial

Corporation

854,920

85

Cboe

Global

Markets,

Inc.

7,455

4,172

Central

Pacific

Financial

Corporation

64,916

3,066

Charles

Schwab

Corporation

101,638

5,216

Chubb,

Ltd.

663,684

11,393

CI

Financial

Corporation

156,591

2,055

Cincinnati

Financial

Corporation

160,146

24,307

CIT

Group,

Inc.

461,104

32,582

Citigroup,

Inc.

1,629,426

14,534

Citizens

Financial

Group,

Inc.

360,589

1,610

CME

Group,

Inc.

267,550

2,686

Cohen

&

Steers,

Inc.

161,643

47,021

Colony

Capital,

Inc.

90,280

11,169

Columbia

Banking

System,

Inc.

323,119

26,860

Comerica,

Inc.

1,034,647

2,506

Commonwealth

Bank

of

Australia

127,492

13,185

Community

Trust

Bancorp,

Inc.

403,593

15,268

Cullen/Frost

Bankers,

Inc.

1,100,212

8,600

DBS

Group

Holdings,

Ltd.

124,233

425

Deutsche

Boerse

AG

77,326

2,673

Deutsche

Pfandbriefbank

AG

h,i

16,934

366

Diamond

Hill

Investment

Group,

Inc.

41,735

7,024

Discover

Financial

Services

347,196

8,622

DnB

ASA

h

132,428

4,317

East

West

Bancorp,

Inc.

149,627

4,700

Ellington

Residential

Mortgage

REIT

51,935

3,387

Encore

Capital

Group,

Inc.

h

123,727

4,659

Enterprise

Financial

Services

Corporation

135,391

14,758

Essent

Group,

Ltd.

528,779

1,987

Euronext

NV

i

229,534

6,614

Evercore,

Inc.

365,754

127,376

Everi

Holdings,

Inc.

h

723,496

3,181

FBL

Financial

Group,

Inc.

110,635

1,292

Federal

Agricultural

Mortgage

Corporation

76,887

3,137

Fifth

Third

Bancorp

62,301

9,946

Financial

Institutions,

Inc.

146,902

4,465

First

American

Financial

Corporation

227,760

422

First

Bancshares,

Inc.

8,402

20,713

First

Busey

Corporation

354,192

1,287

First

Citizens

BancShares,

Inc.

548,095

7,836

First

Financial

Corporation

261,957

27,851

First

Interstate

BancSystem,

Inc.

810,743

551

First

Mid-Illinois

Bancshares,

Inc.

13,450

13,647

First

Midwest

Bancorp,

Inc.

165,606

1,531

First

of

Long

Island

Corporation

22,827

6,036

First

Republic

Bank

678,929

16,731

FlexiGroup,

Ltd.

14,921

5,791

Glacier

Bancorp,

Inc.

204,480

1,242

Goldman

Sachs

Group,

Inc.

245,866

20,492

Granite

Point

Mortgage

Trust,

Inc.

139,141

15,249

Great

Southern

Bancorp,

Inc.

550,031

11,837

Great

Western

Bancorp,

Inc.

153,881

32

Groupe

Bruxelles

Lambert

SA

2,776

11,726

Hamilton

Lane,

Inc.

847,086

23,455

Hancock

Whitney

Corporation

447,052

734

Hanmi

Financial

Corporation

6,775

10,575

Hanover

Insurance

Group,

Inc.

1,077,381

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

152

Shares

Common

Stock

(18.5%)

Value

Financials

(2.5%)

-

continued

16,799

Hartford

Financial

Services

Group,

Inc.

$

710,934

16,562

Heartland

Financial

USA,

Inc.

517,397

51,031

Heritage

Commerce

Corporation

345,990

12,695

Hometrust

Bancshares,

Inc.

183,062

18,433

Horizon

Bancorp,

Inc.

186,358

3,860

Houlihan

Lokey,

Inc.

211,528

6,452

HSBC

Holdings

plc

29,052

78

IGM

Financial,

Inc.

1,918

16,014

Independent

Bank

Corporation

223,636

18,207

Interactive

Brokers

Group,

Inc.

903,067

4,066

International

Bancshares

Corporation

123,688

33,553

Israel

Discount

Bank,

Ltd.

103,162

11,398

J.P.

Morgan

Chase

&

Company

1,101,503

377

Janus

Henderson

Group

plc

7,876

300

Japan

Exchange

Group,

Inc.

7,124

2,400

Japan

Post

Bank

Company,

Ltd.

17,905

400

Japan

Post

Holdings

Company,

Ltd.

2,732

5,860

Julius

Baer

Group,

Ltd.

257,254

11,903

Kemper

Corporation

934,624

54,425

KeyCorp

653,644

279

L

E

Lundbergforetagen

AB

h

13,106

6,351

Lakeland

Bancorp,

Inc.

64,653

2,200

Laurentian

Bank

of

Canada

g

43,607

3,581

Loews

Corporation

130,384

8,679

M&T

Bank

Corporation

919,540

1,938

Manulife

Financial

Corporation

25,971

487

Markel

Corporation

h

508,691

87

MarketAxess

Holdings,

Inc.

44,953

2,298

Marsh

&

McLennan

Companies,

Inc.

267,947

2,254

Mercantile

Bank

Corporation

47,988

19,789

Meridian

Bancorp,

Inc.

225,694

11,112

MetLife,

Inc.

420,589

21,488

MidWestOne

Financial

Group,

Inc.

388,503

4,800

Mitsubishi

UFJ

Financial

Group,

Inc.

17,987

749

Mizrahi

Tefahot

Bank,

Ltd.

15,699

17,717

Morgan

Stanley

866,007

376

Morningstar,

Inc.

63,183

9,610

Mr.

Cooper

Group,

Inc.

h

156,931

300

MS

and

AD

Insurance

Group

Holdings,

Inc.

7,538

3,719

MSCI,

Inc.

1,398,270

1,306

National

Bank

of

Canada

61,661

223

National

Western

Life

Group,

Inc.

43,438

774

NBT

Bancorp,

Inc.

23,057

9,778

Northern

Trust

Corporation

766,106

2,393

Northwest

Bancshares,

Inc.

23,571

115

OFG

Bancorp

1,504

3,288

Old

Republic

International

Corporation

52,838

8,475

Old

Second

Bancorp,

Inc.

70,512

394

Onex

Corporation

17,514

100

ORIX

Corporation

1,082

5,401

PacWest

Bancorp

98,703

671

Paragon

Banking

Group

plc

2,751

595

Pargesa

Holding

SA

47,209

221

Park

National

Corporation

18,953

616

Peapack-Gladstone

Financial

Corporation

10,028

2,770

Peoples

Bancorp,

Inc.

55,594

45,491

Popular,

Inc.

1,688,171

1,995

Power

Corporation

of

Canada

35,403

Shares

Common

Stock

(18.5%)

Value

Financials

(2.5%)

-

continued

18,351

Premier

Financial

Corporation

$

324,446

5,351

Primerica,

Inc.

640,301

21,397

Prosight

Global,

Inc.

h

168,180

1,136

Provident

Financial

Services,

Inc.

15,506

10,777

QCR

Holdings,

Inc.

322,017

30,579

Radian

Group,

Inc.

456,239

23,223

Raymond

James

Financial,

Inc.

1,613,534

25,627

Redwood

Trust,

Inc.

182,721

12,067

Reinsurance

Group

of

America,

Inc.

1,028,712

4,804

Renasant

Corporation

111,597

1,210

Royal

Bank

of

Canada

83,470

428

S&P

Global,

Inc.

149,907

1,316

Safety

Insurance

Group,

Inc.

99,582

1,210

Sandy

Spring

Bancorp,

Inc.

27,975

15,581

Santander

Consumer

USA

Holdings,

Inc.

286,067

33,788

Seacoast

Banking

Corporation

of

Florida

h

637,917

22,070

SEI

Investments

Company

1,154,923

4,457

Selective

Insurance

Group,

Inc.

242,193

800

Senshu

Ikeda

Holdings,

Inc.

1,178

135

Signature

Bank

13,842

1,700

Singapore

Exchange,

Ltd.

10,141

8,804

SLM

Corporation

59,603

14,903

Starwood

Property

Trust,

Inc.

222,800

4,804

State

Auto

Financial

Corporation

74,510

4,397

Sun

Life

Financial,

Inc.

171,389

5,856

SVB

Financial

Group

h

1,313,325

410

Swiss

Life

Holding

AG

149,831

62,323

Synovus

Financial

Corporation

1,255,808

9,179

T.

Rowe

Price

Group,

Inc.

1,267,620

1,305

TCF

Financial

Corporation

35,874

3,672

Territorial

Bancorp,

Inc.

80,674

5,732

Texas

Capital

Bancshares,

Inc.

h

190,417

7,017

TMX

Group,

Ltd.

717,285

800

Tokio

Marine

Holdings,

Inc.

33,780

277

Topdanmark

AS

11,846

249

Torchmark

Corporation

19,820

7,678

Toronto-Dominion

Bank

339,748

15,925

TPG

RE

Finance

Trust,

Inc.

138,229

7,806

TriCo

Bancshares

218,568

18,447

Triumph

Bancorp,

Inc.

h

483,311

14,170

Truist

Financial

Corporation

530,808

24,765

TrustCo

Bank

Corporation

143,389

16,291

Two

Harbors

Investment

Corporation

88,460

1,135

Univest

Financial

Corporation

17,354

1,438

Walker

&

Dunlop,

Inc.

72,490

6,023

Washington

Trust

Bancorp,

Inc.

200,807

27,891

Webster

Financial

Corporation

760,588

41,063

Wells

Fargo

&

Company

996,188

4,236

WesBanco,

Inc.

84,000

33,842

Western

Alliance

Bancorp

1,216,620

28,587

Western

Asset

Mortgage

Capital

Corporation

60,319

536

Westwood

Holdings

Group,

Inc.

6,089

27,323

Wintrust

Financial

Corporation

1,169,424

33,806

Zions

Bancorporations

NA

1,097,681

Total

71,174,367

Health

Care

(3.1%)

12,972

Abbott

Laboratories

1,305,502

2,594

AbbVie,

Inc.

246,197

1,516

Acadia

Healthcare

Company,

Inc.

h

45,192

36,563

ACADIA

Pharmaceuticals,

Inc.

h

1,519,924

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

153

Shares

Common

Stock

(18.5%)

Value

Health

Care

(3.1%)

-

continued

1,048

Acceleron

Pharma,

Inc.

h

$

103,930

16,241

ADMA

Biologics,

Inc.

h

57,980

3,467

Adverum

Biotechnologies,

Inc.

h

58,142

9,094

Agile

Therapeutics,

Inc.

h

22,735

8,560

Agilent

Technologies,

Inc.

824,585

16,481

Agios

Pharmaceuticals,

Inc.

h

746,919

4,693

Akebia

Therapeutics,

Inc.

h

52,421

2,513

Alexion

Pharmaceuticals,

Inc.

h

257,557

2,436

Align

Technology,

Inc.

h

715,746

3,477

Alkermes

plc

h

62,621

2,988

AmerisourceBergen

Corporation

299,368

6,663

Amgen,

Inc.

1,630,236

9,377

AMN

Healthcare

Services,

Inc.

h

515,172

7,154

AnaptysBio,

Inc.

h

128,486

6,446

Anavex

Life

Sciences

Corporation

h

27,202

2,168

Anthem,

Inc.

593,598

3,740

Arena

Pharmaceuticals,

Inc.

h

229,599

3,378

Argenx

SE

ADR

h

777,379

2,079

Assembly

Biosciences,

Inc.

h

46,154

1,500

Astellas

Pharmaceutical,

Inc.

23,397

4,444

Atara

Biotherapeutics,

Inc.

h

55,061

1,849

Athenex,

Inc.

h

19,618

203

Atrion

Corporation

125,880

1,196

AVROBIO,

Inc.

h

20,272

20,157

Axonics

Modulation

Technologies,

Inc.

g,h

853,851

1,004

Axsome

Therapeutics,

Inc.

h

71,615

12,002

Bausch

Health

Companies,

Inc.

h

219,277

5,288

Baxter

International,

Inc.

456,777

2,582

Becton,

Dickinson

and

Company

726,420

1,971

Biogen,

Inc.

h

541,414

10,026

Biohaven

Pharmaceutical

Holding

Company,

Ltd.

h

642,065

1,296

Bio-Rad

Laboratories,

Inc.

h

680,257

8,477

Bio-Techne

Corporation

2,332,531

2,642

Bluebird

Bio,

Inc.

h

160,369

684

Blueprint

Medicines

Corporation

h

50,055

1,659

Bruker

Corporation

74,025

3,135

Cantel

Medical

Corporation

148,129

40,188

Catalent,

Inc.

h

3,510,020

12,370

Centene

Corporation

h

807,142

3,512

Cerner

Corporation

243,908

4,013

Charles

River

Laboratories

International,

Inc.

h

798,547

1,463

Chemed

Corporation

720,074

1,600

Chugai

Pharmaceutical

Company,

Ltd.

72,239

4,437

Cigna

Holding

Company

766,226

5,213

Clovis

Oncology,

Inc.

h

30,183

6,364

Community

Health

Systems,

Inc.

h

31,693

13,981

CryoLife,

Inc.

h

271,371

1,117

CSL,

Ltd.

217,259

10,018

CVS

Health

Corporation

630,533

4,117

CytomX

Therapeutics,

Inc.

h

28,860

700

Daiichi

Sankyo

Company,

Ltd.

61,941

2,817

Danaher

Corporation

574,105

1,113

Deciphera

Pharmaceuticals,

Inc.

h

51,610

5,044

Dexcom,

Inc.

h

2,196,864

11,118

Dynavax

Technologies

Corporation

h

90,167

6,399

Edwards

Lifesciences

Corporation

h

501,746

200

Eisai

Company,

Ltd.

16,141

4,334

Eli

Lilly

and

Company

651,357

2,478

Encompass

Health

Corporation

168,702

6,148

Gilead

Sciences,

Inc.

427,470

16,349

GlaxoSmithKline

plc

325,678

Shares

Common

Stock

(18.5%)

Value

Health

Care

(3.1%)

-

continued

11,407

GlaxoSmithKline

plc

ADR

$

459,930

6,955

Global

Blood

Therapeutics,

Inc.

h

469,323

786

Grifols

SA

22,901

29,192

Guardant

Health,

Inc.

h

2,486,575

8,637

Haemonetics

Corporation

h

757,119

32,403

Halozyme

Therapeutics,

Inc.

h

881,038

4,270

HCA

Healthcare,

Inc.

540,753

1,963

HealthStream,

Inc.

h

43,098

9,111

Hill-Rom

Holdings,

Inc.

885,771

278

Humana,

Inc.

109,101

51

ICU

Medical,

Inc.

h

9,370

321

IDEXX

Laboratories,

Inc.

h

127,678

16,344

ImmunoGen,

Inc.

h

67,174

7,682

Immunomedics,

Inc.

h

324,411

1,329

Incyte

Corporation

h

131,252

3,015

Insmed,

Inc.

h

78,752

10,017

Inspire

Medical

Systems,

Inc.

h

995,289

6,805

Insulet

Corporation

h

1,383,865

1,458

Intuitive

Surgical,

Inc.

h

999,372

2,736

Invitae

Corporation

h

79,891

4,148

Iovance

Biotherapeutics,

Inc.

h

120,582

5,693

IQVIA

Holding,

Inc.

h

901,714

2,477

Jazz

Pharmaceuticals,

Inc.

h

268,135

26,610

Johnson

&

Johnson

3,878,674

9,389

Kadmon

Holdings,

Inc.

h

34,364

300

KYORIN

Holdings,

Inc.

5,450

1,982

Laboratory

Corporation

of

America

Holdings

h

382,367

24,752

LHC

Group,

Inc.

h

4,829,363

3,124

Ligand

Pharmaceuticals,

Inc.

g,h

366,070

117

LNA

Sante

7,060

500

M3,

Inc.

25,676

4,417

MacroGenics,

Inc.

h

112,192

380

Masimo

Corporation

h

83,646

25,768

Medtronic

plc

2,486,097

24,861

Merck

&

Company,

Inc.

1,994,847

2,727

Mersana

Therapeutics,

Inc.

h

54,213

1,555

Mesa

Laboratories,

Inc.

368,442

945

Mettler-Toledo

International,

Inc.

h

883,575

430

Mirati

Therapeutics,

Inc.

h

52,163

3,973

Molina

Healthcare,

Inc.

h

733,813

1,135

Momenta

Pharmaceuticals,

Inc.

h

33,471

7,279

MyoKardia,

Inc.

h

656,056

4,796

Myovant

Sciences,

Ltd.

h

72,899

16,650

Natera,

Inc.

h

799,533

8,306

National

Healthcare

Corporation

492,712

4,920

Nektar

Therapeutics

h

109,027

812

Neogen

Corporation

h

62,337

4,554

Neurocrine

Biosciences,

Inc.

h

548,119

15,887

Nevro

Corporation

h

2,112,336

5,381

Novartis

AG

443,218

4,179

Novo

Nordisk

AS

274,195

1,079

Novo

Nordisk

AS

ADR

70,491

1,000

Olympus

Corporation

17,986

53,441

Optinose,

Inc.

h

272,282

3,246

Orthifix

Medical,

Inc.

h

99,685

1,595

PerkinElmer,

Inc.

189,661

833

Pfizer,

Inc.

32,054

14,495

PRA

Health

Sciences,

Inc.

h

1,544,587

3,908

Precision

BioSciences,

Inc.

h

24,855

2,646

Quest

Diagnostics,

Inc.

336,227

1,205

Reata

Pharmaceuticals,

Inc.

h

177,979

2,095

Recordati

SPA

112,523

5,797

Repligen

Corporation

h

874,825

386

Replimune

Group,

Inc.

h

7,708

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

154

Shares

Common

Stock

(18.5%)

Value

Health

Care

(3.1%)

-

continued

1,488

Roche

Holding

AG

$

515,379

3,244

Sage

Therapeutics,

Inc.

h

147,829

3,046

Sarepta

Therapeutics,

Inc.

h

467,622

5

Siegfried

Holding

AG

2,612

20,135

Silk

Road

Medical,

Inc.

h

935,472

420

Sonova

Holding

AG

h

94,964

9,241

Spectrum

Pharmaceuticals,

Inc.

h

27,631

1,269

STERIS

plc

202,570

5,977

Stryker

Corporation

1,155,354

501

Surmodics,

Inc.

h

23,692

11,816

Syneos

Health,

Inc.

h

737,200

25,044

Tactile

Systems

Technology,

Inc.

h

1,026,303

1,700

Takeda

Pharmaceutical

Company,

Ltd.

61,654

59

Tecan

Group

AG

24,744

5,219

Teleflex,

Inc.

1,947,209

6,001

Tenet

Healthcare

Corporation

h

158,666

400

Terumo

Corporation

15,132

4,874

Thermo

Fisher

Scientific,

Inc.

2,017,592

4,159

Tilray,

Inc.

h

30,693

200

Tsumura

&

Company

4,984

1,544

U.S.

Physical

Therapy,

Inc.

128,245

1,667

uniQure

B.V.

h

69,564

1,385

United

Therapeutics

Corporation

h

154,386

7,232

UnitedHealth

Group,

Inc.

2,189,705

2,808

Universal

Health

Services,

Inc.

308,599

6,736

Varian

Medical

Systems,

Inc.

h

961,362

18,851

VBI

Vaccines,

Inc.

h

76,724

11,609

Veeva

Systems,

Inc.

h

3,071,393

977

Vertex

Pharmaceuticals,

Inc.

h

265,744

1,299

Viking

Therapeutics,

Inc.

h

9,119

1,379

Waters

Corporation

h

293,934

418

West

Pharmaceutical

Services,

Inc.

112,388

2,032

Zimmer

Biomet

Holdings,

Inc.

274,036

15,600

Zoetis,

Inc.

2,366,208

Total

88,346,075

Industrials

(2.7%)

1,481

3M

Company

222,846

18,776

A.O.

Smith

Corporation

903,877

1,694

Aalberts

NV

60,497

455

Acuity

Brands,

Inc.

45,090

3,321

AECOM

h

120,187

5,314

Aegion

Corporation

h

81,942

17,303

Aerojet

Rocketdyne

Holdings,

Inc.

h

713,749

15,414

AGCO

Corporation

1,011,621

8,567

Allegion

plc

852,074

46,966

Altra

Industrial

Motion

Corporation

1,607,646

27

AMERCO

8,579

8,044

American

Airlines

Group,

Inc.

89,449

21,181

AMETEK,

Inc.

1,975,128

3,534

Arcosa,

Inc.

149,205

32,953

ASGN,

Inc.

h

2,255,962

3,940

Assa

Abloy

AB

86,980

4,209

Atlas

Copco

AB,

Class

A

186,844

1,749

Atlas

Copco

AB,

Class

B

67,691

2,608

Avis

Budget

Group,

Inc.

h

67,547

22,069

AZZ,

Inc.

696,939

2,298

Bloom

Energy

Corporation

h

27,944

3,010

Boeing

Company

475,580

15,929

BWX

Technologies,

Inc.

868,449

4,054

Carlisle

Companies,

Inc.

482,750

22,867

Carrier

Global

Corporation

622,897

10,024

Casella

Waste

Systems,

Inc.

h

555,430

4,903

Caterpillar,

Inc.

651,511

Shares

Common

Stock

(18.5%)

Value

Industrials

(2.7%)

-

continued

30,777

CBIZ,

Inc.

h

$

744,188

12,571

Chart

Industries,

Inc.

h

861,491

784

CIA

De

Distribucion

Integral

14,638

8,419

Copart,

Inc.

h

785,072

5,156

Cornerstone

Building

Brands,

Inc.

h

29,235

3,503

CRA

International,

Inc.

146,320

20,028

Crane

Company

1,132,984

12,622

CSW

Industrials,

Inc.

843,023

5,373

CSX

Corporation

383,310

23,113

Curtiss-Wright

Corporation

2,059,831

100

Daikin

Industries,

Ltd.

17,595

201

Dart

Group

plc

1,694

15,223

Delta

Air

Lines,

Inc.

380,118

3,672

Douglas

Dynamics,

Inc.

129,805

22,935

EMCOR

Group,

Inc.

1,571,048

16,902

Emerson

Electric

Company

1,048,093

3,906

Encore

Wire

Corporation

196,042

6,391

Expeditors

International

of

Washington,

Inc.

540,103

15,128

Fluor

Corporation

154,154

15,169

Forrester

Research,

Inc.

h

532,584

12,224

FuelCell

Energy,

Inc.

h

27,260

189

Geberit

AG

104,312

4,419

Generac

Holdings,

Inc.

h

696,346

11,894

General

Dynamics

Corporation

1,745,326

6,120

Gorman-Rupp

Company

185,191

600

GS

Yuasa

Corporation

9,330

9,473

GWA

Group,

Ltd.

19,257

800

Hanwa

Company,

Ltd.

14,216

3,433

Heico

Corporation

329,980

10,189

Helios

Technologies,

Inc.

385,450

200

Hino

Motors,

Ltd.

1,153

10,131

Honeywell

International,

Inc.

1,513,267

8,167

Hubbell,

Inc.

1,102,300

1,708

Huntington

Ingalls

Industries,

Inc.

296,697

2,870

ICF

International,

Inc.

194,041

17,356

IDEX

Corporation

2,860,616

2,153

Illinois

Tool

Works,

Inc.

398,283

2,300

Inaba

Denki

Sangyo

Company,

Ltd.

52,624

4,194

Ingersoll

-

Rand,

Inc.

h

132,488

5,390

John

Bean

Technologies

Corporation

505,366

22,021

Johnson

Controls

International

plc

847,368

300

Kamigumi

Company,

Ltd.

5,475

3,120

Kansas

City

Southern

536,172

3,000

Kinden

Corporation

46,503

2,095

Koninklijke

Philips

NV

h

108,251

215

Landstar

System,

Inc.

26,183

3,154

Legrand

SA

243,276

1,601

Lennox

International,

Inc.

429,292

30,365

Lincoln

Electric

Holdings,

Inc.

2,744,692

820

Linde

Public

Limited

Company

200,990

2,045

Lockheed

Martin

Corporation

774,994

8,756

Manpower,

Inc.

602,325

9,000

Marubeni

Corporation

41,435

2,250

Masonite

International

Corporation

h

189,788

41,475

McDermott

International,

Ltd.

h

147,236

4,564

Mercury

Systems,

Inc.

h

353,391

74,369

Meritor,

Inc.

h

1,691,895

13,428

Middleby

Corporation

h

1,115,330

5,800

Mitsubishi

Corporation

116,869

900

Mitsuboshi

Belting,

Ltd.

14,896

9,400

Mitsui

&

Company,

Ltd.

140,531

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

155

Shares

Common

Stock

(18.5%)

Value

Industrials

(2.7%)

-

continued

4,408

MSC

Industrial

Direct

Company,

Inc.

$

290,972

2,972

NAPCO

Security

Technologies,

Inc.

h

78,401

3,003

National

Express

Group

plc

5,975

100

Nidec

Corporation

7,944

3,200

Nitto

Kogyo

Corporation

52,058

1,629

Nobina

AB

h,i

10,261

2,701

Nordson

Corporation

522,995

488

Norfolk

Southern

Corporation

93,798

496

Northrop

Grumman

Corporation

161,205

10,566

Old

Dominion

Freight

Line,

Inc.

1,931,676

5,214

Otis

Worldwide

Corporation

327,126

4,930

PageGroup

plc

22,572

7,456

Parker-Hannifin

Corporation

1,334,028

17,593

Primoris

Services

Corporation

282,016

6,665

Quad/Graphics,

Inc.

20,728

18,614

Raven

Industries,

Inc.

402,249

10,427

Raytheon

Technologies

Corporation

591,002

1,200

Recruit

Holdings

Company,

Ltd.

37,435

1,208

Redde

Northgate

plc

2,598

9,484

Regal-Beloit

Corporation

872,243

9,965

RELX

plc

209,785

777

Republic

Services,

Inc.

67,793

33,345

Ritchie

Brothers

Auctioneers,

Inc.

1,543,207

5,765

Rockwell

Automation,

Inc.

1,257,577

4,066

Roper

Industries,

Inc.

1,758,342

4,919

Ryder

System,

Inc.

180,183

10,547

Saia,

Inc.

h

1,259,839

2,333

Sandvik

AB

h

43,600

100

Sanwa

Holdings

Corporation

857

2,220

Schneider

Electric

SE

254,554

951

SEEK,

Ltd.

14,627

3,198

Signify

NV

h,i

95,951

5,485

Simpson

Manufacturing

Company,

Inc.

529,632

4,304

SiteOne

Landscape

Supply,

Inc.

h

551,041

3,825

SKF

AB

70,812

36,500

Sojitz

Corporation

76,565

42,818

Southwest

Airlines

Company

1,322,648

1,833

SP

Plus

Corporation

h

29,126

523

Spirax-Sarco

Engineering

plc

69,891

4,525

Spirit

Aerosystems

Holdings,

Inc.

88,554

2,065

Spirit

Airlines,

Inc.

h

32,648

1,840

SPX

FLOW,

Inc.

h

73,747

18,293

Standex

International

Corporation

979,590

38

Stantec,

Inc.

1,223

6,600

Sumitomo

Corporation

73,324

30,001

Summit

Materials,

Inc.

h

441,615

300

Taikisha,

Ltd.

8,432

2,685

Teledyne

Technologies,

Inc.

h

823,490

3,173

Thermon

Group

Holdings,

Inc.

h

42,994

900

Toppan

Forms

Company,

Ltd.

8,500

6,867

Toro

Company

489,960

884

Transcontinental,

Inc.

10,190

10,816

Trex

Company,

Inc.

h

1,506,993

27,446

TriMas

Corporation

h

642,236

800

Tsubakimoto

Chain

Company

18,777

2,790

UniFirst

Corporation

520,279

5,386

Union

Pacific

Corporation

933,663

6,690

United

Airlines

Holdings,

Inc.

h

209,932

18,599

United

Rentals,

Inc.

h

2,889,727

11,331

Valmont

Industries,

Inc.

1,373,317

7,115

Verisk

Analytics,

Inc.

1,342,672

713

Vinci

SA

61,365

Shares

Common

Stock

(18.5%)

Value

Industrials

(2.7%)

-

continued

4,174

Waste

Connections,

Inc.

$

427,292

2,831

Watsco,

Inc.

668,314

27,168

Willdan

Group,

Inc.

h

669,963

4,370

XPO

Logistics,

Inc.

h

327,837

500

Yuasa

Trading

Company,

Ltd.

13,369

Total

78,473,452

Information

Technology

(4.1%)

8,002

Accenture

plc

1,798,690

2,660

Adobe,

Inc.

h

1,181,891

4,460

ADTRAN,

Inc.

55,393

4,443

Advanced

Energy

Industries,

Inc.

h

326,872

7,407

Advanced

Micro

Devices,

Inc.

h

573,524

300

Advantest

Corporation

16,380

13,424

Agilysys,

Inc.

h

281,367

8,264

Akamai

Technologies,

Inc.

h

929,204

7,956

Alliance

Data

Systems

Corporation

352,928

5,085

Alteryx,

Inc.

h

892,367

935

Amadeus

IT

Holding

SA

46,690

2,586

American

Software,

Inc.

42,591

29,412

Amphenol

Corporation

3,110,613

1,086

Analog

Devices,

Inc.

124,727

26,413

Anaplan,

Inc.

h

1,199,414

3,869

ANSYS,

Inc.

h

1,201,711

20,243

Apple,

Inc.

8,604,085

71

ASM

International

NV

10,861

654

ASML

Holding

NV

232,522

2,649

Aspen

Technology,

Inc.

h

257,642

5,653

Atlassian

Corporation

plc

h

998,602

9,733

Automatic

Data

Processing,

Inc.

1,293,613

8,910

Avalara,

Inc.

h

1,197,950

5,027

Avnet,

Inc.

134,321

9,804

Bandwidth,

Inc.

g,h

1,419,423

1,405

BE

Semiconductor

Industries

NV

62,820

16,695

Benchmark

Electronics,

Inc.

339,910

14,980

Blackline,

Inc.

h

1,331,872

51

Broadcom,

Ltd.

16,154

4,688

Broadridge

Financial

Solutions,

Inc.

629,786

1,273

CACI

International,

Inc.

h

264,555

1,300

Canon,

Inc.

20,920

115

Capgemini

SA

14,915

22,402

CDK

Global,

Inc.

1,018,395

3,360

CDW

Corporation

390,600

565

CEVA,

Inc.

h

22,713

3,753

CGI,

Inc.

h

268,057

33,005

Change

Healthcare,

Inc.

h

384,838

14,963

Ciena

Corporation

h

890,448

67,182

Cisco

Systems,

Inc.

3,164,272

7,976

Cognex

Corporation

533,355

8,637

CommScope

Holding

Company,

Inc.

h

80,151

100

Computer

Engineering

&

Consulting,

Ltd.

1,437

9,458

Computer

Services,

Inc.

541,471

4,877

Computershare,

Ltd.

46,677

9,488

Coupa

Software,

Inc.

h

2,907,598

5,212

Cree,

Inc.

h

359,211

11,086

CTS

Corporation

220,168

12,583

Descartes

Systems

Group,

Inc.

h

708,800

347

Dialog

Semiconductor

plc

h

16,266

11,048

DocuSign,

Inc.

h

2,395,538

36,985

Dolby

Laboratories,

Inc.

2,574,156

1,778

Domo,

Inc.

h

57,216

15,797

Dropbox,

Inc.

h

359,382

3,391

DSP

Group,

Inc.

h

50,356

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

156

Shares

Common

Stock

(18.5%)

Value

Information

Technology

(4.1%)

-

continued

100

DTS

Corporation

$

1,914

22,842

Elastic

NV

h

2,197,172

8,284

Endava

plc

ADR

h

427,869

1,907

EPAM

Systems,

Inc.

h

553,183

5,198

ePlus,

Inc.

h

387,459

17,066

Euronet

Worldwide,

Inc.

h

1,640,725

28,526

Eventbrite,

Inc.

g,h

243,042

8,514

ExlService

Holdings,

Inc.

h

545,407

2,015

eXp

World

Holdings,

Inc.

h

40,038

2,805

F5

Networks,

Inc.

h

381,200

911

Fair

Isaac

Corporation

h

400,102

11,038

Five9,

Inc.

h

1,333,611

1,103

FLIR

Systems,

Inc.

45,951

1,100

Fuji

Soft,

Inc.

49,627

100

Fujitsu,

Ltd.

13,390

2,327

Gartner,

Inc.

h

290,037

11,423

Global

Payments,

Inc.

2,033,522

12,855

Guidewire

Software,

Inc.

h

1,512,519

8,493

Halma

plc

241,234

13,313

Health

Catalyst,

Inc.

g,h

464,624

600

Hitachi,

Ltd.

17,972

500

Hoya

Corporation

49,310

4,589

II-VI,

Inc.

h

232,754

5,072

Inphi

Corporation

h

662,708

13,430

Intel

Corporation

641,014

2,302

InterDigital,

Inc.

138,166

2,921

International

Business

Machines

Corporation

359,108

3,731

Intuit,

Inc.

1,143,066

200

ITOCHU

Techno-Solutions

Corporation

8,123

2,130

Jack

Henry

&

Associates,

Inc.

379,779

100

Japan

Material

Company,

Ltd.

1,522

11,353

Juniper

Networks,

Inc.

288,139

200

Keyence

Corporation

84,337

2,186

KLA-Tencor

Corporation

436,828

3,878

Lam

Research

Corporation

1,462,626

200

Lasertec

Corporation

17,659

34,036

Lattice

Semiconductor

Corporation

h

1,058,179

3,196

Littelfuse,

Inc.

567,769

19,709

Lumentum

Holdings,

Inc.

h

1,829,586

4,219

ManTech

International

Corporation

293,558

8,115

MasterCard,

Inc.

2,503,721

25,709

Medallia,

Inc.

h

790,038

4,828

Methode

Electronics,

Inc.

136,150

40,064

Microsoft

Corporation

8,213,521

5,847

MicroStrategy,

Inc.

h

724,560

16,541

MKS

Instruments,

Inc.

2,107,985

5,982

MoneyGram

International,

Inc.

h

20,817

19,117

Monolithic

Power

Systems,

Inc.

5,066,196

4,620

Motorola

Solutions,

Inc.

645,876

10,567

MTS

Systems

Corporation

196,018

200

Murata

Manufacturing

Company,

Ltd.

12,846

20,317

National

Instruments

Corporation

721,254

3,700

NEC

Networks

&

System

Integration

Corporation

78,603

239

NetApp,

Inc.

10,588

6,573

Nice,

Ltd.

ADR

g,h

1,349,043

8,226

Nova

Measuring

Instruments,

Ltd.

h

422,816

4,344

Novanta,

Inc.

h

450,386

200

NS

Solutions

Corporation

5,267

200

NSD

Company,

Ltd.

3,637

100

NTT

Data

Corporation

1,137

39,691

Nuance

Communications,

Inc.

h

1,085,549

Shares

Common

Stock

(18.5%)

Value

Information

Technology

(4.1%)

-

continued

1,764

NVIDIA

Corporation

$

748,977

18,375

Oracle

Corporation

1,018,894

200

Oracle

Corporation

Japan

24,092

200

Otsuka

Corporation

10,428

5,909

Palo

Alto

Networks,

Inc.

h

1,512,231

3,326

Paychex,

Inc.

239,206

2,492

PayPal

Holdings,

Inc.

h

488,606

5,444

Plexus

Corporation

h

404,435

3,531

Progress

Software

Corporation

123,091

4,437

Proofpoint,

Inc.

h

513,228

8,460

Q2

Holdings,

Inc.

h

795,663

5,328

QAD,

Inc.

210,509

5,688

QUALCOMM,

Inc.

600,710

930

Qualys,

Inc.

h

114,836

5,488

Rogers

Corporation

h

654,115

500

Ryoyo

Electro

Corporation

13,924

510

Sage

Group

plc

4,840

51,151

SailPoint

Technologies

Holdings,

Inc.

h

1,611,257

551

Salesforce.com,

Inc.

h

107,362

606

Samsung

Electronics

Company,

Ltd.

GDR

734,892

115

SAP

SE

18,153

7,420

ScanSource,

Inc.

h

170,289

2,163

Semtech

Corporation

h

120,544

6,655

ServiceNow,

Inc.

h

2,922,876

3,202

Silicon

Laboratories,

Inc.

h

321,833

225

Skyworks

Solutions,

Inc.

32,756

1,306

Square,

Inc.

h

169,584

43,630

STMicroelectronics

NV

ADR

g

1,219,022

11,083

Synopsys,

Inc.

h

2,207,955

3,847

TE

Connectivity,

Ltd.

342,652

202

Technology

One,

Ltd.

1,212

6,534

Teradyne,

Inc.

581,265

20,240

Texas

Instruments,

Inc.

2,581,612

300

TIS,

Inc.

6,425

300

Tokyo

Electron,

Ltd.

83,015

163

Tyler

Technologies,

Inc.

h

58,232

4,186

VeriSign,

Inc.

h

886,092

12,672

Virtusa

Corporation

h

514,483

6,051

Visa,

Inc.

1,152,110

2,230

VMware,

Inc.

g,h

312,668

4,916

WEX,

Inc.

h

778,547

9,223

Zscaler,

Inc.

h

1,197,607

Total

118,586,483

Materials

(0.7%)

4,363

AdvanSix,

Inc.

h

54,319

169

Air

Liquide

SA

27,797

2,700

Air

Water,

Inc.

35,007

1,197

Anglo

American

plc

28,977

6,768

AptarGroup,

Inc.

779,674

3,332

Avery

Dennison

Corporation

377,649

15,910

Axalta

Coating

Systems,

Ltd.

h

353,202

382

Balchem

Corporation

38,299

6,437

Ball

Corporation

473,956

251

Barrick

Gold

Corporation

7,254

1,304

BHP

Group,

Ltd.

34,333

9,346

Boise

Cascade

Company

435,430

4,175

Cabot

Corporation

152,304

1,525

Celanese

Corporation

148,230

1,184

Centamin

plc

3,169

16,629

CF

Industries

Holdings,

Inc.

520,987

14,892

Chemours

Company

275,949

29

Christian

Hansen

Holding

AS

3,309

953

Croda

International

plc

71,127

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

157

Shares

Common

Stock

(18.5%)

Value

Materials

(0.7%)

-

continued

25,239

Eastman

Chemical

Company

$

1,883,587

5,053

Ecolab,

Inc.

945,315

40,217

Element

Solutions,

Inc.

h

436,757

39

EMS-CHEMIE

Holding

AG

33,679

94

Eramet

SA

h

2,560

18,780

Ferroglobe

Representation

&

Warranty

Insurance

Trust

c,h

2

16

Givaudan

SA

66,268

3,087

Granges

AB

h

24,935

3,061

Hecla

Mining

Company

16,897

4,786

Hexpol

AB

h

31,844

3,145

Hochschild

Mining

plc

11,144

342

Holmen

AB

11,787

5,586

IAMGOLD

Corporation

h

27,818

133

IMCD

NV

13,753

3,395

Ingevity

Corporation

h

198,540

10,699

Innospec,

Inc.

804,244

92,348

Ivanhoe

Mines,

Ltd.

h

325,419

12,483

Kaiser

Aluminum

Corporation

773,322

1,704

Koninklijke

DSM

NV

260,825

3,109

Kraton

Performance

Polymers,

Inc.

h

40,883

2,500

Kyoei

Steel,

Ltd.

29,725

300

Lintec

Corporation

7,000

68,956

Louisiana-Pacific

Corporation

2,183,836

241

MAG

Silver

Corporation

h

4,072

7,593

Martin

Marietta

Materials,

Inc.

1,573,118

7,671

Materion

Corporation

440,469

5,958

Minerals

Technologies,

Inc.

279,311

19,472

Myers

Industries,

Inc.

293,248

9,745

Neenah,

Inc.

434,724

4,900

Nippon

Steel

Corporation

40,177

888

Northern

Star

Resources,

Ltd.

10,079

201

Novozymes

AS

12,024

11,924

Nucor

Corporation

500,212

6,158

Olin

Corporation

69,216

2,335

Olympic

Steel,

Inc.

24,704

214

Osisko

Gold

Royalties,

Ltd.

2,508

3,815

PPG

Industries,

Inc.

410,685

5,186

Quaker

Chemical

Corporation

1,006,084

1,665

Ramelius

Resources,

Ltd.

2,632

2,470

Reliance

Steel

&

Aluminum

Company

242,702

730

Rio

Tinto

plc

44,437

785

Rio

Tinto,

Ltd.

57,453

2,375

RPM

International,

Inc.

193,776

9,440

Ryerson

Holding

Corporation

h

53,147

7,026

Sandfire

Resources,

Ltd.

23,879

4,494

Sensient

Technologies

Corporation

234,632

1,248

Sherwin-Williams

Company

808,604

100

Shin-Etsu

Chemical

Company,

Ltd.

11,704

498

Sika

AG

109,427

2,952

Silver

Lake

Resources,

Ltd.

h

5,284

27,023

Steel

Dynamics,

Inc.

740,700

6,800

Sumitomo

Chemical

Company,

Ltd.

19,622

623

Symrise

AG

77,882

400

Taiyo

Holdings

Company,

Ltd.

18,897

1,800

Toagosei

Company,

Ltd.

17,161

12,600

Toray

Industries,

Inc.

54,540

1,200

Ube

Industries,

Ltd.

19,599

6,131

UFP

Technologies,

Inc.

h

264,491

5,294

United

States

Lime

&

Minerals,

Inc.

477,572

5,467

United

States

Steel

Corporation

36,410

3,127

UPM-Kymmene

Oyj

83,471

7,113

Verso

Corporation

86,850

Shares

Common

Stock

(18.5%)

Value

Materials

(0.7%)

-

continued

1,603

W.

R.

Grace

&

Company

$

73,946

1,303

Worthington

Industries,

Inc.

48,758

Total

20,859,319

Real

Estate

(1.2%)

33,379

Agree

Realty

Corporation

2,235,392

2,523

Alexandria

Real

Estate

Equities,

Inc.

447,959

1,598

Allied

Properties

REIT

47,852

1,683

Alstria

Office

REIT

AG

h

25,158

19,342

American

Campus

Communities,

Inc.

689,349

522

American

Tower

Corporation

136,445

13,957

Apartment

Investment

&

Management

Company

541,811

8,945

Armada

Hoffler

Properties,

Inc.

86,230

30,484

Ascendas

REIT

78,907

4,000

Ascott

Trust

2,626

2,558

Ashford

Hospitality

Trust,

Inc.

10,027

2,262

AvalonBay

Communities,

Inc.

346,357

383

BBX

Capital

Corporation

5,331

196

Bluerock

Residential

Growth

REIT,

Inc.

1,419

17,684

Camden

Property

Trust

1,605,884

9,197

CareTrust

REIT,

Inc.

165,730

2,201

Castellum

AB

47,336

32,168

CBL

&

Associates

Properties,

Inc.

h

5,880

33,211

CBRE

Group,

Inc.

h

1,454,974

29,320

Cedar

Realty

Trust,

Inc.

23,852

1,525

Choice

Properties

REIT

14,436

5,403

City

Office

REIT,

Inc.

46,736

58

Cofinimmo

SA

8,279

6,872

Colliers

International

Group,

Inc.

371,157

6,063

Colony

Credit

Real

Estate,

Inc.

38,197

3,349

Columbia

Property

Trust,

Inc.

40,054

384

Community

Healthcare

Trust,

Inc.

17,560

4,549

Corepoint

Lodging,

Inc.

25,429

4,086

CoreSite

Realty

Corporation

527,298

2,637

CoStar

Group,

Inc.

h

2,240,817

1,749

CyrusOne,

Inc.

145,902

800

Daito

Trust

Construction

Company,

Ltd.

62,738

2,017

Digital

Realty

Trust,

Inc.

323,809

8,424

Diversified

Healthcare

Trust

32,811

7,535

Douglas

Emmett,

Inc.

219,570

10,400

Duke

Realty

Corporation

417,976

1,385

Easterly

Government

Properties,

Inc.

33,863

2,857

EastGroup

Properties,

Inc.

379,010

613

Entra

ASA

i

8,654

5,357

EPR

Properties

153,371

5,352

Equity

Lifestyle

Properties,

Inc.

365,649

14,426

Equity

Residential

773,666

40,141

Essential

Properties

Realty

Trust,

Inc.

646,270

3,322

Essex

Property

Trust,

Inc.

733,298

6,019

Farmland

Partners,

Inc.

41,591

40,439

First

Industrial

Realty

Trust,

Inc.

1,776,081

6,212

FirstService

Corporation

742,645

12,168

Four

Corners

Property

Trust,

Inc.

306,634

2,972

Franklin

Street

Properties

Corporation

15,603

1

Fukuoka

REIT

Corporation

1,161

9,900

Gaming

and

Leisure

Properties,

Inc.

358,479

9,514

Getty

Realty

Corporation

281,900

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

158

Shares

Common

Stock

(18.5%)

Value

Real

Estate

(1.2%)

-

continued

3,937

Gladstone

Commercial

Corporation

$

71,653

2,337

Granite

REIT

135,916

1

Hankyu

REIT,

Inc.

1,077

9,862

Healthcare

Realty

Trust,

Inc.

288,957

11,997

Healthcare

Trust

of

America,

Inc.

331,237

35,557

Host

Hotels

&

Resorts,

Inc.

383,304

3,062

Hudson

Pacific

Properties,

Inc.

72,171

3,000

Hysan

Development

Company,

Ltd.

8,288

6,103

Industrial

Logistics

Properties

Trust

128,834

2,708

Innovative

Industrial

Properties,

Inc.

282,255

2,742

Investors

Real

Estate

Trust

198,247

51

Japan

Hotel

REIT

Investment

Corporation

18,500

2,803

Jones

Lang

LaSalle,

Inc.

277,245

29,823

Kilroy

Realty

Corporation

1,737,786

420

Kungsleden

AB

3,397

3,421

Lamar

Advertising

Company

224,862

9

LEG

Immobilien

AG

1,255

8,800

Lexington

Realty

Trust

102,080

8,000

Mapletree

Commercial

Trust

10,772

47,214

Medical

Properties

Trust,

Inc.

950,418

1,727

MGM

Growth

Properties

LLC

47,216

2

Mori

Trust

Sogo

REIT,

Inc.

2,334

1,212

National

Health

Investors,

Inc.

75,144

17,307

National

Retail

Properties,

Inc.

613,533

60,903

National

Storage

Affiliates

Trust

1,877,030

32,001

New

Residential

Investment

Corporation

253,768

9,436

New

Senior

Investment

Group,

Inc.

32,082

9,093

NexPoint

Residential

Trust,

Inc.

347,625

4

Nomura

Real

Estate

Master

Fund,

Inc.

4,961

5,592

Omega

Healthcare

Investors,

Inc.

181,069

3,993

One

Liberty

Properties,

Inc.

67,761

4,865

Physicians

Realty

Trust

87,765

1,680

Plymouth

Industrial

REIT,

Inc.

22,294

4,069

PotlatchDeltic

Corporation

174,194

10,027

Preferred

Apartment

Communities,

Inc.

72,495

1,561

PS

Business

Parks,

Inc.

215,340

1,501

PSP

Swiss

Property

AG

166,744

2,207

QTS

Realty

Trust,

Inc.

158,794

3,332

Quebecor,

Inc.

76,021

7,983

Rayonier,

Inc.

REIT

221,768

19,695

Retail

Properties

of

America,

Inc.

125,260

12,546

Rexford

Industrial

Realty,

Inc.

588,784

879

RioCan

REIT

9,817

774

RMR

Group,

Inc.

22,260

6,000

Road

King

Infrastructure,

Ltd.

8,071

26,097

Sabra

Health

Care

REIT,

Inc.

384,670

3,646

SBA

Communications

Corporation

1,135,875

44,892

Service

Properties

Trust

300,776

7,202

Spirit

Realty

Capital,

Inc.

248,181

8,191

STAG

Industrial,

Inc.

267,027

14,207

Store

Capital

Corporation

336,564

53,460

Sunstone

Hotel

Investors,

Inc.

399,881

546

Swiss

Prime

Site

AG

49,830

5,108

TAG

Immobilien

AG

134,312

3,880

Terreno

Realty

Corporation

235,749

17,921

UDR,

Inc.

648,740

4,886

UMH

Properties,

Inc.

60,098

200

Unibail-Rodamco-Westfield

10,491

Shares

Common

Stock

(18.5%)

Value

Real

Estate

(1.2%)

-

continued

5

United

Urban

Investment

Corporation

$

4,862

24,985

Uniti

Group,

Inc.

247,351

228

Universal

Health

Realty

Income

Trust

15,864

1,012

Waypoint

REIT,

Ltd.

1,823

12,900

Wing

Tai

Holdings,

Ltd.

16,068

3,878

WP

Carey,

Inc.

276,773

Total

34,564,482

Utilities

(0.3%)

1,176

AGL

Energy,

Ltd.

13,930

1,349

ALLETE,

Inc.

79,996

5,398

Alliant

Energy

Corporation

290,682

6,650

Artesian

Resources

Corporation

233,282

3,614

Black

Hills

Corporation

209,106

14,917

CenterPoint

Energy,

Inc.

283,572

1,164

Chesapeake

Utilities

Corporation

98,346

4,519

CMS

Energy

Corporation

290,029

5,220

Consolidated

Water

Company,

Ltd.

64,049

1,618

DTE

Energy

Company

187,089

6,900

Duke

Energy

Corporation

584,706

3,309

Enagas

SA

83,484

823

Enel

SPA

7,539

7,941

Entergy

Corporation

834,837

1,217

Essential

Utilities,

Inc.

55,191

8,842

Exelon

Corporation

341,390

8,924

FirstEnergy

Corporation

258,796

3,006

Hawaiian

Electric

Industries,

Inc.

108,998

4,257

IDACORP,

Inc.

396,965

2,916

MDU

Resources

Group,

Inc.

61,178

936

Middlesex

Water

Company

59,960

1,235

National

Fuel

Gas

Company

50,104

6,453

New

Jersey

Resources

Corporation

200,430

906

NextEra

Energy,

Inc.

254,314

858

Northland

Power,

Inc.

23,509

694

Northwest

Natural

Holding

Company

37,122

3,886

NorthWestern

Corporation

218,626

5,042

OGE

Energy

Corporation

165,882

3,874

Otter

Tail

Corporation

148,181

13,528

PNM

Resources,

Inc.

571,288

5,096

Portland

General

Electric

Company

224,887

932

South

Jersey

Industries,

Inc.

21,744

2,706

Southwest

Gas

Holdings,

Inc.

188,446

4,834

Spire,

Inc.

298,064

7,198

UGI

Corporation

239,981

2,852

Unitil

Corporation

123,064

Total

7,308,767

Total

Common

Stock

(cost

$452,087,738)

532,404,015

Shares

Collateral

Held

for

Securities

Loaned

(

0.3%

)

Value

7,234,247

Thrivent

Cash

Management

Trust

7,234,247

Total

Collateral

Held

for

Securities

Loaned

(cost

$7,234,247)

7,234,247

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

159

Shares

or

Principal

Amount

Short-Term

Investments

(

13.3%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

1,200,000

0.180%,

8/4/2020

p,q

$

1,199,998

400,000

0.114%,

8/7/2020

p

399,997

5,600,000

0.125%,

8/11/2020

p,q

5,599,913

2,100,000

0.150%,

8/19/2020

p,q

2,099,935

3,600,000

0.108%,

8/25/2020

p,q

3,599,846

2,600,000

0.160%,

9/2/2020

p,q

2,599,805

3,700,000

0.120%,

9/15/2020

p,q

3,699,602

2,800,000

0.090%,

9/16/2020

p,q

2,799,692

4,900,000

0.090%,

9/17/2020

p,q

4,899,449

3,700,000

0.090%,

9/21/2020

p,q

3,699,547

3,800,000

0.090%,

9/22/2020

p,q

3,799,525

3,200,000

0.090%,

9/23/2020

p,q

3,199,592

200,000

0.088%,

9/25/2020

p,q

199,973

5,300,000

0.090%,

11/6/2020

p,q

5,298,741

Thrivent

Core

Short-Term

Reserve

Fund

33,821,220

0.500%

338,550,411

U.S.

Treasury

Bills

1,000,000

0.133%,

9/17/2020

p

999,889

250,000

0.023%,

9/24/2020

p

249,966

Total

Short-Term

Investments

(cost

$382,488,402)

382,895,881

Total

Investments

(cost

$2,668,552,956)

107.3%

$3,085,336,806

Other

Assets

and

Liabilities,

Net

(7.3%)

(209,292,772)

Total

Net

Assets

100.0%

$2,876,044,035

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

f

In

bankruptcy.  Interest

is

being

accrued

per

the

bankruptcy

agreement

terms.  

g

All

or

a

portion

of

the

security

is

on

loan.

h

Non-income

producing

security.

i

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$128,747,616

or

4.5%

of

total

net

assets.

j

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

July

31,

2020.

k

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

l

Defaulted

security.  Interest

is

not

being

accrued.

m

In

bankruptcy.  Interest

is

not

being

accrued.

n

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

o

All

or

a

portion

of

the

security

was

earmarked

to

cover

written

options.

p

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

q

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Moderate

Allocation

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

1,960,765

Common

Stock

5,036,371

Total

lending

$6,997,136

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$7,234,247

Net

amounts

due

to

counterparty

$237,111

Definitions:

ACES

-

Alternative

Credit

Enhancement

Securities

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

FNMA

-

Federal

National

Mortgage

Association

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

LIBOR

1W

-

ICE

Libor

USD

Rate

1

Week

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

2M

-

ICE

Libor

USD

Rate

2

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

160

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Moderate

Allocation

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

2,687,363

–

2,340,090

347,273

Capital

Goods

4,631,007

–

4,631,007

–

Communications

Services

9,563,913

–

9,426,164

137,749

Consumer

Cyclical

5,533,212

–

5,533,212

–

Consumer

Non-Cyclical

7,302,936

–

7,302,936

–

Energy

2,520,465

–

2,520,465

–

Financials

3,219,395

–

3,219,395

–

Technology

4,049,825

–

4,049,825

–

Transportation

1,092,351

–

1,092,351

–

Utilities

1,190,039

–

1,190,039

–

Registered

Investment

Companies

Unaffiliated

18,912,510

18,912,510

–

–

Affiliated

979,119,044

979,119,044

–

–

Long-Term

Fixed

Income

Asset-Backed

Securities

31,015,396

–

31,015,396

–

Basic

Materials

10,110,410

–

10,110,410

–

Capital

Goods

13,921,231

–

13,921,231

–

Collateralized

Mortgage

Obligations

44,375,904

–

44,375,904

–

Commercial

Mortgage-Backed

Securities

4,892,833

–

4,892,833

–

Communications

Services

35,461,505

–

35,461,505

–

Consumer

Cyclical

25,769,149

–

25,769,149

–

Consumer

Non-Cyclical

42,074,579

–

42,074,579

–

Energy

26,633,638

–

26,633,638

–

Financials

64,406,279

–

64,406,279

–

Mortgage-Backed

Securities

274,017,237

–

274,017,237

–

Technology

24,451,078

–

24,451,078

–

Transportation

5,984,189

–

5,984,189

–

U.S.

Government

&

Agencies

288,417,898

–

288,417,898

–

Utilities

23,832,639

–

23,832,639

–

Common

Stock

Communications

Services

20,345,191

19,560,410

784,781

–

Consumer

Discretionary

62,030,435

60,834,456

1,195,979

–

Consumer

Staples

17,674,965

16,717,550

957,415

–

Energy

13,040,479

12,478,540

561,939

–

Financials

71,174,367

67,375,434

3,798,933

–

Health

Care

88,346,075

86,000,942

2,345,133

–

Industrials

78,473,452

75,948,720

2,524,732

–

Information

Technology

118,586,483

116,365,379

2,221,104

–

Materials

20,859,319

19,214,557

1,644,760

2

Real

Estate

34,564,482

33,602,796

961,686

–

Utilities

7,308,767

7,180,305

128,462

–

Short-Term

Investments

44,345,470

–

44,345,470

–

Subtotal

Investments

in

Securities

$2,531,935,510

$1,513,310,643

$1,018,139,843

$485,024

Other

Investments  *

Total

Affiliated

Short-Term

Investments

338,550,411

Affiliated

Registered

Investment

Companies

207,616,638

Collateral

Held

for

Securities

Loaned

7,234,247

Subtotal

Other

Investments

$553,401,296

Total

Investments

at

Value

$3,085,336,806

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

161

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

Counterparty:

JPM

-

J.P.

Morgan

MSC

-

Morgan

Stanley

&

Company

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

25,973,411

25,973,411

–

–

Total

Asset

Derivatives

$25,973,411

$25,973,411

$–

$–

Liability

Derivatives

Futures

Contracts

21,362,285

21,362,285

–

–

Call

Options

Written

217,559

–

–

217,559

Total

Liability

Derivatives

$21,579,844

$21,362,285

$–

$217,559

The

following

table

presents

Moderate

Allocation

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$42,495,640

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

2-Yr.

U.S.

Treasury

Note

249

September

2020

$

54,981,132

$

43,978

CBOT

5-Yr.

U.S.

Treasury

Note

89

September

2020

11,144,051

81,074

CBOT

U.S.

Long

Bond

224

September

2020

39,424,058

1,406,942

CME

E-mini

Russell

2000

Index

9

September

2020

653,499

11,511

CME

E-mini

S&P

500

Index

1,513

September

2020

231,310,323

15,573,452

CME

E-mini

S&P

Mid-Cap

400

Index

1

September

2020

176,483

9,567

CME

Euro

Foreign

Exchange

Currency

199

September

2020

28,985,586

365,670

Eurex

Euro

STOXX

50

Index

755

September

2020

29,330,318

(

1,155,557)

ICE

mini

MSCI

EAFE

Index

1,389

September

2020

122,609,737

3,344,783

ICE

US

mini

MSCI

Emerging

Markets

Index

1,027

September

2020

49,772,122

5,136,434

Total

Futures

Long

Contracts

$

568,387,309

$

24,817,854

CBOT

10-Yr.

U.S.

Treasury

Note

(227)

September

2020

(

$

31,445,863)

(

$

351,873)

CME

E-mini

Russell

2000

Index

(2,026)

September

2020

(

138,904,902)

(

10,796,238)

CME

E-mini

S&P

Mid-Cap

400

Index

(684)

September

2020

(

118,602,389)

(

8,655,811)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

(42)

September

2020

(

9,196,876)

(

365,999)

Ultra

10-Yr.

U.S.

Treasury

Note

(13)

September

2020

(

2,033,443)

(

36,807)

Total

Futures

Short

Contracts

(

$

300,183,473)

($20,206,728)

Total

Futures

Contracts

$

268,203,836

$4,611,126

The

following

table

presents

Moderate

Allocation

Fund's

options

contracts

held

as

of

July

31,

2020.

Option

_

Description                              

(Underlying

Security

Description)

Counter-

party

Number

of

Contracts

Exercise

Price

Expiration

Date

Notional

Principal

Amount

Value

Unrealized

Appreciation/

(Depreciation)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

JPM

(23)

$

104.20

August

2020

(24,161,680)

(

$

201,250)

(

$

142,852)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

MSC

(15)

102.64

September

2020

(15,821,761)

(

170,332)

(

74,707)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

Total

Options

Written

Contracts

($371,582)

($217,559)

(*)  Security

is

valued

using

significant

unobservable

inputs.

Market

quotations

or

prices

were

not

readily

available

or

were

determined

to

be

unreliable.

Value

was

determined

in

good

faith

pursuant

to

procedures

adopted

by

the

Board.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

Moderate

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

162

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Moderate

Allocation

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$51,746

$15,703

$–

$69,426

6,936

2.4%

Core

Emerging

Markets

Equity*

—

8,400

–

8,806

871

0.3

Core

International

Equity

22,078

862

–

20,330

2,369

0.7

Core

Low

Volatility

Equity

79,651

32,111

–

109,054

9,250

3.8

Global

Stock,

Class

S

53,135

6,513

–

54,736

2,271

1.9

High

Yield,

Class

S

39,438

1,565

–

39,525

8,687

1.4

Income,

Class

S

123,505

3,430

–

135,405

13,288

4.7

International

Allocation,

Class

S

131,555

3,396

–

122,222

13,185

4.2

Large

Cap

Growth,

Class

S

176,773

8,636

–

232,182

14,466

8.1

Large

Cap

Value,

Class

S

198,943

3,842

–

184,698

8,927

6.4

Limited

Maturity

Bond,

Class

S

66,637

1,161

–

68,668

5,415

2.4

Mid

Cap

Stock,

Class

S

112,060

3,209

–

114,349

4,251

4.0

Small

Cap

Stock,

Class

S

28,853

2,478

–

27,334

1,285

1.0

Total

Affiliated

Registered

Investment

Companies

1,084,374

1,186,735

41.3

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

347,257

520,197

529,146

338,550

33,821

11.8

Total

Affiliated

Short-Term

Investments

347,257

338,550

11.8

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

8,533

318,504

319,803

7,234

7,234

0.3

Total

Collateral

Held

for

Securities

Loaned

8,533

7,234

0.3

Total

Value

$1,440,164

$1,532,519

*  

Non-income

producing

security.

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$–

$1,977

$–

$2,072

Core

Emerging

Markets

Equity*

–

406

–

–

Core

International

Equity

–

(2,610)

–

861

Core

Low

Volatility

Equity

Fund

–

(2,708)

2,502

1,610

Global

Stock,

Class

S

–

(4,912)

5,606

907

High

Yield,

Class

S

–

(1,478)

–

1,565

Income,

Class

S

–

8,470

568

2,862

International

Allocation,

Class

S

–

(12,729)

–

3,396

Large

Cap

Growth,

Class

S

–

46,773

8,636

–

Large

Cap

Value,

Class

S

–

(18,087)

–

3,842

Limited

Maturity

Bond,

Class

S

–

870

–

1,161

Mid

Cap

Stock,

Class

S

–

(920)

2,766

442

Small

Cap

Stock,

Class

S

–

(3,997)

2,341

136

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

(165)

407

2

3,451

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$22,305

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

109

Total

Affiliated

Income

from

Securities

Loaned,

Net

$109

Total

$(165)

$11,462

$22,421

*  

Non-income

producing

security.

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

163

Principal

Amount

Bank

Loans

(

0.8%

)

a

Value

Basic

Materials

(0.1%)

Big

River

Steel,

LLC,

Term

Loan

$

218,812

6.000%, 

(LIBOR

3M

+

5.000%),

8/23/2023

b

$

207,872

Chemours

Company,

Term

Loan

173,475

1.920%, 

(LIBOR

1M

+

1.750%),

4/3/2025

b

164,151

Hexion,

Inc.,

Term

Loan

149,622

3.800%, 

(LIBOR

3M

+

3.500%),

7/1/2026

b

146,256

Innophos

Holdings,

Inc.,

Term

Loan

149,625

3.911%, 

(LIBOR

1M

+

3.750%),

2/7/2027

b,c

147,568

Momentive

Performance

Materials

USA,

LLC,

Term

Loan

148,500

3.420%, 

(LIBOR

1M

+

3.250%),

5/15/2024

b

139,095

MRC

Global

(US),

Inc.,

Term

Loan

84,712

3.161%, 

(LIBOR

1M

+

3.000%),

9/22/2024

b,c

79,205

Nouryon

USA,

LLC,

Term

Loan

293,708

3.178%, 

(LIBOR

1M

+

3.000%),

10/1/2025

b,d,e

283,592

Peabody

Energy

Corporation,

Term

Loan

161,287

2.911%, 

(LIBOR

1M

+

2.750%),

3/31/2025

b

83,063

Pixelle

Specialty

Solutions,

LLC,

Term

Loan

288,708

7.500%, 

(LIBOR

1M

+

6.500%),

10/31/2024

b

277,521

PQ

Corporation,

Term

Loan

165,000

0.000%, 

(LIBOR

1M

+

3.000%),

2/7/2027

b,d,e

163,866

Total

1,692,189

Capital

Goods

(0.1%)

Advanced

Disposal

Services,

Inc.,

Term

Loan

187,093

3.000%, 

(LIBOR

1W

+

2.250%),

11/10/2023

b

185,808

Flex

Acquisition

Company,

Inc.

Term

Loan

315,000

3.546%, 

(LIBOR

3M

+

3.250%),

6/29/2025

b

299,102

GFL

Environmental,

Inc.,

Term

Loan

250,019

4.000%, 

(LIBOR

3M

+

3.000%),

5/31/2025

b

248,526

Graham

Packaging

Company,

Inc.,

Term

Loan

145,000

0.000%, 

(LIBOR

1M

+

3.750%),

7/28/2027

b,d,e

144,559

Mauser

Packaging

Solutions

Holding

Company,

Term

Loan

223,274

3.523%, 

(LIBOR

3M

+

3.250%),

4/3/2024

b

208,035

Navistar,

Inc.,

Term

Loan

112,125

3.690%, 

(LIBOR

1M

+

3.500%),

11/6/2024

b

108,294

Reynolds

Group

Holdings,

Inc.,

Term

Loan

129,813

2.911%, 

(LIBOR

1M

+

2.750%),

2/5/2023

b

127,032

Principal

Amount

Bank

Loans

(0.8%)

a

Value

Capital

Goods

(0.1%)

-

continued

TransDigm,

Inc.,

Term

Loan

$

517,400

2.411%, 

(LIBOR

1M

+

2.250%),

12/9/2025

b

$

483,676

Vertiv

Group

Corporation,

Term

Loan

493,762

3.162%, 

(LIBOR

1M

+

3.000%),

3/2/2027

b

482,036

Total

2,287,068

Communications

Services

(0.2%)

Altice

France

SA,

Term

Loan

169,313

2.911%, 

(LIBOR

1M

+

2.750%),

7/31/2025

b

161,820

CenturyLink,

Inc.,

Term

Loan

521,225

2.411%, 

(LIBOR

1M

+

2.250%),

3/15/2027

b

501,173

CommScope,

Inc.,

Term

Loan

199,100

3.411%, 

(LIBOR

1M

+

3.250%),

4/4/2026

b,d,e

194,620

Coral-US

Co-Borrower,

LLC,

Term

Loan

610,000

2.411%, 

(LIBOR

1M

+

2.250%),

1/31/2028

b

585,600

CSC

Holdings,

LLC,

Term

Loan

72,563

2.425%, 

(LIBOR

1M

+

2.250%),

7/17/2025

b

69,978

Diamond

Sports

Group,

LLC,

Term

Loan

437,872

3.420%, 

(LIBOR

1M

+

3.250%),

8/24/2026

b

348,656

Entercom

Media

Corporation,

Term

Loan

221,504

2.673%, 

(LIBOR

1M

+

2.500%),

11/17/2024

b

209,045

Gray

Television,

Inc.,

Term

Loan

135,000

2.421%, 

(LIBOR

1M

+

2.250%),

2/7/2024

b

131,062

HCP

Acquisition,

LLC,

Term

Loan

296,447

4.000%, 

(LIBOR

1M

+

3.000%),

5/16/2024

b

289,629

iHeartCommunications,

Inc.,

Term

Loan

169,574

3.161%, 

(LIBOR

1M

+

3.000%),

5/1/2026

b

158,363

Mediacom

Illinois,

LLC,

Term

Loan

79,308

1.870%, 

(LIBOR

1W

+

1.750%),

2/15/2024

b,c

78,714

NEP

Group,

Inc.,

Term

Loan

201,925

3.411%, 

(LIBOR

1M

+

3.250%),

10/20/2025

b

166,273

30,000

7.161%, 

(LIBOR

1M

+

7.000%),

10/19/2026

b

22,110

Nexstar

Broadcasting,

Inc.,

Term

Loan

365,000

2.921%, 

(LIBOR

1M

+

2.750%),

9/19/2026

b,d,e

354,736

Nielsen

Finance,

LLC,

Term

Loan

119,700

4.750%, 

(LIBOR

1M

+

3.750%),

6/4/2025

b

119,700

SBA

Senior

Finance

II,

LLC,

Term

Loan

223,329

1.920%, 

(LIBOR

1M

+

1.750%),

4/11/2025

b

216,401

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

164

Principal

Amount

Bank

Loans

(0.8%)

a

Value

Communications

Services

(0.2%)

-

continued

Terrier

Media

Buyer,

Inc.,

Term

Loan

$

189,050

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

$

184,019

85,000

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

82,185

T-Mobile

USA,

Inc.,

Term

Loan

365,000

3.161%, 

(LIBOR

1M

+

3.000%),

4/1/2027

b

366,172

TNS,

Inc.,

Term

Loan

340,109

4.170%, 

(LIBOR

1M

+

4.000%),

8/14/2022

b

329,906

WideOpenWest

Finance,

LLC,

Term

Loan

363,815

4.250%, 

(LIBOR

1M

+

3.250%),

8/19/2023

b

357,630

Windstream

Services,

LLC,

Term

Loan

60,000

2.670%, 

(LIBOR

1M

+

2.500%),

2/26/2021

b

58,750

193,515

0.000%, 

(PRIME

+

5.000%),

3/30/2021

b,f

115,670

Xplornet

Communications,

Inc.,

Term

Loan

190,000

4.911%, 

(LIBOR

1M

+

4.750%),

6/11/2027

b

184,834

Ziggo

Financing

Partnership,

Term

Loan

325,000

2.675%, 

(LIBOR

1M

+

2.500%),

4/30/2028

b

311,711

Total

5,598,757

Consumer

Cyclical

(0.1%)

Boyd

Gaming

Corporation,

Term

Loan

30,396

2.361%, 

(LIBOR

1W

+

2.250%),

9/15/2023

b

29,336

Cengage

Learning,

Inc.,

Term

Loan

291,735

5.250%, 

(LIBOR

3M

+

4.250%),

6/7/2023

b

236,063

Four

Seasons

Hotels,

Ltd.,

Term

Loan

199,823

2.161%, 

(LIBOR

1M

+

2.000%),

11/30/2023

b

192,366

Golden

Entertainment,

Inc.,

Term

Loan

381,175

3.750%, 

(LIBOR

1M

+

3.000%),

10/20/2024

b

346,393

Golden

Nugget,

LLC,

Term

Loan

492,238

3.250%, 

(LIBOR

1M

+

2.500%),

10/4/2023

b

410,640

LCPR

Loan

Financing,

LLC,

Term

Loan

485,000

5.175%, 

(LIBOR

1M

+

5.000%),

10/15/2026

b

486,212

Men's

Warehouse,

Inc.,

Term

Loan

205,692

4.250%, 

(LIBOR

1M

+

3.250%),

4/9/2025

b

40,367

Mohegan

Gaming

and

Entertainment,

Term

Loan

172,349

5.375%, 

(LIBOR

3M

+

4.375%),

10/13/2023

b

143,296

Principal

Amount

Bank

Loans

(0.8%)

a

Value

Consumer

Cyclical

(0.1%)

-

continued

Penn

National

Gaming,

Inc.,

Term

Loan

$

162,525

3.000%, 

(LIBOR

3M

+

2.250%),

10/15/2025

b

$

154,552

Scientific

Games

International,

Inc.,

Term

Loan

782,222

3.473%, 

(LIBOR

1M

+

2.750%),

8/14/2024

b

710,703

Staples,

Inc.,

Term

Loan

86,956

5.187%, 

(LIBOR

3M

+

4.500%),

9/12/2024

b,d,e

77,372

311,725

5.687%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b,d,e

267,479

Stars

Group

Holdings

BV,

Term

Loan

102,010

3.808%, 

(LIBOR

3M

+

3.500%),

7/10/2025

b

101,940

Wyndham

Hotels

&

Resorts,

Inc.,

Term

Loan

137,550

1.911%, 

(LIBOR

1M

+

1.750%),

5/30/2025

b

130,816

Total

3,327,535

Consumer

Non-Cyclical

(0.1%)

Bausch

Health

Americas,

Inc.,

Term

Loan

457,342

3.176%, 

(LIBOR

1M

+

3.000%),

6/1/2025

b,d,e

449,412

Bellring

Brands,

LLC,

Term

Loan

88,861

6.000%, 

(LIBOR

1M

+

5.000%),

10/21/2024

b,d,e

89,083

Change

Healthcare

Holdings,

LLC,

Term

Loan

180,000

3.500%, 

(LIBOR

1M

+

2.500%),

3/1/2024

b

175,849

Chobani,

LLC,

Term

Loan

231,997

4.500%, 

(LIBOR

1M

+

3.500%),

10/10/2023

b

229,547

Dole

Food

Company,

Inc.,

Term

Loan

218,792

3.750%, 

(LIBOR

1M

+

2.750%),

4/6/2024

b,d,e

212,931

Endo

International

plc,

Term

Loan

244,638

5.000%, 

(LIBOR

3M

+

4.250%),

4/27/2024

b

233,546

Global

Medical

Response,

Inc.,

Term

Loan

546,000

4.250%, 

(LIBOR

3M

+

3.250%),

4/28/2022

b

538,722

97,500

5.250%, 

(LIBOR

3M

+

4.250%),

3/14/2025

b

94,873

IQVIA,

Inc.,

Term

Loan

79,795

1.911%, 

(LIBOR

1M

+

1.750%),

1/1/2025

b

78,159

JBS

USA

LUX

SA,

Term

Loan

382,495

3.072%, 

(LIBOR

3M

+

2.000%),

5/1/2026

b

368,672

Libbey

Glass,

Inc.,

Term

Loan

107,398

0.000%,PIK

3.750%,

(LIBOR

1M

+

5.000%),

4/9/2021

b,f,g

17,832

MPH

Acquisition

Holdings,

LLC,

Term

Loan

620,000

3.750%, 

(LIBOR

3M

+

2.750%),

6/7/2023

b

609,795

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

165

Principal

Amount

Bank

Loans

(0.8%)

a

Value

Consumer

Non-Cyclical

(0.1%)

-

continued

Ortho-Clinical

Diagnostics

SA,

Term

Loan

$

589,175

3.416%, 

(LIBOR

1M

+

3.250%),

6/30/2025

b

$

572,236

R.R.

Donnelley

&

Sons

Company,

Term

Loan

39,598

5.161%, 

(LIBOR

1M

+

5.000%),

1/15/2024

b

36,826

Sotera

Health

Holdings,

LLC,

Term

Loan

204,488

5.500%, 

(LIBOR

1M

+

4.500%),

12/13/2026

b

203,721

US

Foods,

Inc.,

Term

Loan

119,688

1.911%, 

(LIBOR

1M

+

1.750%),

6/27/2023

b

113,255

Total

4,024,459

Energy

(<0.1%)

BCP

Raptor

II,

LLC,

Term

Loan

193,050

4.911%, 

(LIBOR

1M

+

4.750%),

11/3/2025

b

121,235

Buckeye

Partners,

LP,

Term

Loan

64,838

2.921%, 

(LIBOR

1M

+

2.750%),

11/1/2026

b

63,278

Calpine

Corporation,

Term

Loan

218,670

2.420%, 

(LIBOR

1M

+

2.250%),

1/15/2024

b

213,796

CONSOL

Energy,

Inc.,

Term

Loan

187,625

4.670%, 

(LIBOR

1M

+

4.500%),

9/28/2024

b

151,821

Fieldwood

Energy,

LLC,

Term

Loan

255,000

6.250%, 

(LIBOR

3M

+

5.250%),

4/11/2022

b

58,224

Illuminate

Buyer,

LLC,

Term

Loan

165,000

4.308%, 

(LIBOR

3M

+

4.000%),

6/30/2027

b

163,020

Radiate

Holdco,

LLC,

Term

Loan

799,354

3.750%, 

(LIBOR

1M

+

3.000%),

2/1/2024

b

783,143

Total

1,554,517

Financials

(0.1%)

Delos

Finance

SARL,

Term

Loan

150,000

2.058%, 

(LIBOR

3M

+

1.750%),

10/6/2023

b

144,638

GGP

Nimbus,

LLC,

Term

Loan

273,030

2.661%, 

(LIBOR

1M

+

2.500%),

8/24/2025

b

221,837

INEOS

U.S.

Finance,

LLC,

Term

Loan

119,693

2.214%, 

(LIBOR

2M

+

2.000%),

3/31/2024

b

115,055

Lealand

Finance

Company

BV,

Term

Loan

55,318

4.167%, 

(LIBOR

1M

+

4.000%),

6/30/2025

b

43,885

Level

3

Financing,

Inc.,

Term

Loan

325,000

1.911%, 

(LIBOR

1M

+

1.750%),

3/1/2027

b

314,506

MoneyGram

International,

Inc.,

Term

Loan

172,665

7.000%, 

(LIBOR

3M

+

6.000%),

6/30/2023

b

163,168

Principal

Amount

Bank

Loans

(0.8%)

a

Value

Financials

(0.1%)

-

continued

Northriver

Midstream

Finance,

LP,

Term

Loan

$

262,992

3.552%, 

(LIBOR

3M

+

3.250%),

10/1/2025

b

$

250,995

Tronox

Finance,

LLC,

Term

Loan

421,608

2.972%, 

(LIBOR

3M

+

2.750%),

9/22/2024

b

409,752

Vericast

Corporation,

Term

Loan

147,959

5.750%, 

(LIBOR

3M

+

4.750%),

11/3/2023

b

102,800

Total

1,766,636

Technology

(0.1%)

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

437,673

3.761%, 

(LIBOR

2M

+

3.500%),

8/21/2026

b

388,434

Prime

Security

Services

Borrower,

LLC,

Term

Loan

714,187

4.250%, 

(LIBOR

1M

+

3.250%),

9/23/2026

b,d,e

701,054

Rackspace

Hosting,

Inc.,

Term

Loan

644,297

4.000%, 

(LIBOR

2M

+

3.000%),

11/3/2023

b

629,884

SS&C

Technologies,

Inc.,

Term

Loan

268,787

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

260,052

191,684

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

185,454

Zayo

Group

Holdings,

Inc.,

Term

Loan

468,825

3.161%, 

(LIBOR

1M

+

3.000%),

3/9/2027

b

454,760

Total

2,619,638

Transportation

(<0.1%)

Delta

Air

Lines,

Inc.,

Term

Loan

60,000

0.000%, 

(LIBOR

1M

+

4.750%),

4/29/2023

b,d,e

58,978

Genesee

&

Wyoming,

Inc.,

Term

Loan

294,262

2.308%, 

(LIBOR

3M

+

2.000%),

12/30/2026

b

288,563

Mileage

Plus

Holdings,

LLC,

Term

Loan

165,000

6.250%, 

(LIBOR

3M

+

5.250%),

6/20/2027

b

164,505

United

Airlines,

Inc.,

Term

Loan

218,869

1.911%, 

(LIBOR

1M

+

1.750%),

4/1/2024

b

195,966

Total

708,012

Utilities

(<0.1%)

Advanced

Drainage

Systems,

Inc.,

Term

Loan

74,797

2.438%, 

(LIBOR

1M

+

2.250%),

9/24/2026

b

73,768

Core

and

Main,

LP,

Term

Loan

247,987

3.750%, 

(LIBOR

3M

+

2.750%),

8/1/2024

b

241,014

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

166

Principal

Amount

Bank

Loans

(0.8%)

a

Value

Utilities

(<0.1%)

-

continued

Pacific

Gas

&

Electric

Company,

Term

Loan

$

370,000

5.500%, 

(LIBOR

3M

+

4.500%),

1/1/2022

b

$

365,490

Total

680,272

Total

Bank

Loans

(cost

$25,844,034)

24,259,083

Shares

Registered

Investment

Companies

(

48.5%

)

Value

Unaffiliated  (0.7%)

13,201

Health

Care

Select

Sector

SPDR

Fund

1,393,101

130,800

Invesco

Senior

Loan

ETF

2,830,512

13,347

iShares

Dow

Jones

US

Home

Construction

Index

Fund

689,506

1,009

iShares

iBoxx

$

High

Yield

Corporate

Bond

ETF

86,158

8,651

ProShares

Ultra

S&P

500

1,208,545

3,536

SPDR

Bloomberg

Barclays

High

Yield

Bond

ETF

375,170

47,362

SPDR

S&P

500

ETF

Trust

15,464,640

19,736

SPDR

S&P

Regional

Banking

ETF

741,679

190

Utilities

Select

Sector

SPDR

Fund

11,558

Total

22,800,869

Affiliated  (47.8%)

4,371,230

Thrivent

Core

Emerging

Markets

Debt

Fund

43,756,011

1,324,016

Thrivent

Core

Emerging

Markets

Equity

Fund

h

13,385,800

9,262,251

Thrivent

Core

International

Equity

Fund

79,470,110

13,326,580

Thrivent

Core

Low

Volatility

Equity

Fund

157,120,384

5,806,792

Thrivent

Global

Stock

Fund,

Class

S

139,943,697

4,965,384

Thrivent

High

Yield

Fund,

Class

S

22,592,495

7,351,592

Thrivent

Income

Fund,

Class

S

74,912,719

24,592,671

Thrivent

International

Allocation

Fund,

Class

S

227,974,056

18,377,514

Thrivent

Large

Cap

Growth

Fund,

Class

S

294,959,106

10,485,572

Thrivent

Large

Cap

Value

Fund,

Class

S

216,946,486

3,017,128

Thrivent

Limited

Maturity

Bond

Fund,

Class

S

38,257,178

6,524,255

Thrivent

Mid

Cap

Stock

Fund,

Class

S

175,502,453

1,979,441

Thrivent

Small

Cap

Stock

Fund,

Class

S

42,102,717

Total

1,526,923,212

Total

Registered

Investment

Companies

(cost

$1,248,420,699)

1,549,724,081

Shares

Common

Stock

(

25.7%

)

Value

Communications

Services

(0.8%)

6,644

Activision

Blizzard,

Inc.

548,994

3,116

Alphabet,

Inc.,

Class

A

h

4,636,452

1,138

Alphabet,

Inc.,

Class

C

h

1,687,608

28,993

AMC

Entertainment

Holdings,

Inc.

117,132

3,302

AMC

Networks,

Inc.

h

76,276

7,174

AT&T,

Inc.

212,207

Shares

Common

Stock

(25.7%)

Value

Communications

Services

(0.8%)

-

continued

47,928

Auto

Trader

Group

plc

i

$

334,803

5,318

Carsales.com,

Ltd.

69,523

16,101

Cinemark

Holdings,

Inc.

190,475

54

Cogeco

Communications,

Inc.

4,116

10,845

Comcast

Corporation

464,166

8,183

Consolidated

Communications

Holdings,

Inc.

h

59,736

2,853

Deutsche

Telekom

AG

47,630

3,190

Discovery,

Inc.,

Class

A

h,j

67,309

26,741

DISH

Network

Corporation

h

858,654

8,997

EchoStar

Corporation

h

245,618

10,593

Facebook,

Inc.

h

2,687,126

81,297

Gannett

Company,

Inc.

120,320

2,640

Hemisphere

Media

Group,

Inc.

h

23,232

25,000

HKT

Trust

and

HKT,

Ltd.

36,837

639

IAC/InterActiveCorp

h

84,616

17,828

Interpublic

Group

of

Companies,

Inc.

321,795

842

Ipsos

SA

22,348

2,400

KDDI

Corporation

76,314

7,675

Lions

Gate

Entertainment

Corporation,

Class

A

h

58,790

9,961

Lions

Gate

Entertainment

Corporation,

Class

B

h

70,823

47,324

Live

Nation

Entertainment,

Inc.

h

2,215,236

946

Madison

Square

Garden

Entertainment

Corporation

h

67,034

738

Match

Group,

Inc.

h

75,793

26,813

Mediaset

Espana

Comunicacion

SA

h

87,705

13,844

Meredith

Corporation

198,800

3,692

News

Corporation

47,110

300

NEXON

Company,

Ltd.

7,708

200

Nintendo

Company,

Ltd.

87,962

1,100

Nippon

Telegraph

&

Telephone

Corporation

25,533

3,700

NTT

DOCOMO,

Inc.

101,865

59,124

ORBCOMM,

Inc.

h

248,912

116,648

QuinStreet,

Inc.

h

1,361,865

2,140

Rightmove

plc

15,444

8,170

RingCentral,

Inc.

h

2,371,506

3,822

Scholastic

Corporation

91,460

11,349

Seven

West

Media,

Ltd.

h

803

13,000

SoftBank

Corporation

174,021

2,800

SoftBank

Group

Corporation

176,605

8,347

Take-Two

Interactive

Software,

Inc.

h

1,369,075

8,300

TV

Asahi

Holdings

Corporation

113,503

26,642

Twitter,

Inc.

h

969,769

15,344

Uber

Technologies,

Inc.

h

464,309

9,355

Verizon

Communications,

Inc.

537,725

1,844

ViacomCBS,

Inc.

48,073

10,369

Walt

Disney

Company

1,212,551

1,920

Wolters

Kluwer

NV

151,215

20,301

Zillow

Group,

Inc.

h

1,382,295

Total

26,726,777

Consumer

Discretionary

(3.1%)

5,166

Aaron's,

Inc.

269,562

100

ABC-MART,

Inc.

5,269

8,439

Abercrombie

&

Fitch

Company

81,268

8,418

Adient

plc

h

140,076

3,409

Amazon.com,

Inc.

h

10,788,394

19,293

American

Eagle

Outfitters,

Inc.

192,930

1,051

American

Public

Education,

Inc.

h

30,595

500

AOKI

Holdings,

Inc.

2,573

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

167

Shares

Common

Stock

(25.7%)

Value

Consumer

Discretionary

(3.1%)

-

continued

39,051

Aptiv

plc

$

3,036,215

12,034

At

Home

Group,

Inc.

h

149,462

1,100

Autobacs

Seven

Company,

Ltd.

12,816

976

Autogrill

SPA

h

4,668

164

AutoZone,

Inc.

h

198,017

14,961

B&M

European

Value

Retail

SA

89,950

11,786

Beazer

Homes

USA,

Inc.

h

131,885

23,283

Bed

Bath

&

Beyond,

Inc.

251,922

1,778

Berkeley

Group

Holdings

plc

103,161

4,369

Big

Lots,

Inc.

171,876

10,385

BJ's

Restaurants,

Inc.

208,323

590

Bloomin'

Brands,

Inc.

6,797

598

Booking

Holdings,

Inc.

h

993,954

700

Bridgestone

Corporation

20,619

31,441

Bright

Horizons

Family

Solutions,

Inc.

h

3,371,733

574

Bunzl

plc

16,443

18,786

Burlington

Stores,

Inc.

h

3,531,768

7,827

Caesars

Entertainment,

Inc.

h

243,028

5,409

Caleres,

Inc.

34,131

7,546

Camping

World

Holdings,

Inc.

276,335

13,500

Capri

Holdings,

Ltd.

h

202,230

9,018

Carnival

Corporation

125,170

39,111

Cedar

Fair,

LP

932,406

9,878

Century

Casinos,

Inc.

h

39,808

3,912

Century

Communities,

Inc.

h

139,345

22,372

Chewy,

Inc.

h,j

1,174,306

79,154

Chico's

FAS,

Inc.

100,526

1,509

Children's

Place,

Inc.

36,835

2,277

Chipotle

Mexican

Grill,

Inc.

h

2,630,299

1,400

Chiyoda

Company,

Ltd.

13,379

212

Churchill

Downs,

Inc.

29,366

133

Cie

Generale

des

Etablissements

Michelin

13,774

13,800

Citizen

Watch

Company,

Ltd.

37,614

822

Collins

Foods,

Ltd.

5,557

126,398

Cooper-Standard

Holdings,

Inc.

h

1,353,723

4,136

Cracker

Barrel

Old

Country

Store,

Inc.

456,904

33,349

Crocs,

Inc.

h

1,198,563

12,664

Culp,

Inc.

140,570

2,052

D.R.

Horton,

Inc.

135,760

6,944

Dana,

Inc.

79,370

7,192

Darden

Restaurants,

Inc.

545,873

10,900

Dave

&

Buster's

Entertainment,

Inc.

134,506

2,275

Deckers

Outdoor

Corporation

h

476,044

5,008

Denny's

Corporation

h

44,496

6,300

Denso

Corporation

233,053

11,785

Designer

Brands,

Inc.

69,649

3,910

Dick's

Sporting

Goods,

Inc.

178,374

4,105

Dine

Brands

Global,

Inc.

186,490

4,444

Dollarama,

Inc.

162,505

457

Dometic

Group

AB

i

4,462

5,295

Domino's

Pizza,

Inc.

2,047,100

277

Dorman

Products,

Inc.

h

22,645

100

Doutor

Nichires

Holdings

Company,

Ltd.

1,331

87,945

Duluth

Holdings,

Inc.

h,j

649,914

16,010

Emerald

Holding,

Inc.

43,547

8,793

Ethan

Allen

Interiors,

Inc.

104,109

29,844

Etsy,

Inc.

h

3,532,933

555

Europris

ASA

i

2,728

100

Exedy

Corporation

1,235

8,695

Express,

Inc.

h

8,782

6,982

Extended

Stay

America,

Inc.

79,665

Shares

Common

Stock

(25.7%)

Value

Consumer

Discretionary

(3.1%)

-

continued

100

Fast

Retailing

Company,

Ltd.

$

53,180

41,801

Five

Below,

Inc.

h

4,552,547

13,606

Foot

Locker,

Inc.

399,880

9,411

Fossil,

Inc.

h

31,150

804

Fox

Factory

Holding

Corporation

h

71,556

25,000

Galaxy

Entertainment

Group,

Ltd.

170,494

16,056

GameStop

Corporation

h

64,385

7,794

Gap,

Inc.

104,206

8,685

Garrett

Motion,

Inc.

h

51,068

8,375

Genuine

Parts

Company

755,006

3,788

G-III

Apparel

Group,

Ltd.

h

37,463

13,444

Goodyear

Tire

&

Rubber

Company

121,130

3,174

Grand

Canyon

Education,

Inc.

h

281,661

3,249

GVC

Holdings

plc

28,119

113

Hermes

International

91,614

13,028

Home

Depot,

Inc.

3,458,804

1,500

Hooker

Furniture

Corporation

32,100

3,254

Hovnanian

Enterprises,

Inc.

h

75,818

2,236

Husqvarna

AB

21,398

4,296

Industria

de

Diseno

Textil

SA

113,835

144

InterContinental

Hotels

Group

plc

6,633

2,030

Jack

in

the

Box,

Inc.

166,683

8,147

KB

Home

274,065

16,998

Knoll,

Inc.

199,047

12,806

Kohl's

Corporation

243,826

4,977

Kontoor

Brands,

Inc.

95,359

16,336

L

Brands,

Inc.

398,762

11,293

Lear

Corporation

1,246,521

35,589

Leggett

&

Platt,

Inc.

1,426,763

1,405

Lithia

Motors,

Inc.

321,956

2,514

Lowe's

Companies,

Inc.

374,360

5,728

Lululemon

Athletica,

Inc.

h

1,864,980

32

LVMH

Moet

Hennessy

Louis

Vuitton

SE

13,915

24,154

Macy's,

Inc.

146,373

946

Madison

Square

Garden

Sports

Corporation

h

145,391

8,322

Marcus

Corporation

114,927

1,167

Marriott

Vacations

Worldwide

Corporation

98,798

34,014

Mattel,

Inc.

h

377,896

5,622

McDonald's

Corporation

1,092,242

1,754

Melia

Hotels

International

SA

h

6,493

48

Mercadolibre,

Inc.

h

53,982

27,312

Michaels

Companies,

Inc.

h

196,100

6,232

Modine

Manufacturing

Company

h

33,902

5,837

Mohawk

Industries,

Inc.

h

466,084

18,411

Moneysupermarket.com

Group

plc

70,533

36,659

Movado

Group,

Inc.

353,393

600

Netflix,

Inc.

h

293,328

5,100

NHK

Spring

Company,

Ltd.

28,701

500

Nihon

Unisys,

Ltd.

15,130

5,815

NIKE,

Inc.

567,602

3,000

Nissan

Motor

Company,

Ltd.

10,262

10,518

Nordstrom,

Inc.

143,991

18,839

Norwegian

Cruise

Line

Holdings,

Ltd.

h

256,964

1,005

NVR,

Inc.

h

3,949,801

4,842

Office

Depot,

Inc.

106,863

30,184

Ollie's

Bargain

Outlet

Holdings,

Inc.

h

3,172,338

900

Onward

Holdings

Company,

Ltd.

2,210

200

Oriental

Land

Company,

Ltd.

24,129

630

Pandox

AB

7,953

3,165

Park

Hotels

&

Resorts,

Inc.

26,175

76,890

Party

City

Holdco,

Inc.

h

126,100

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

168

Shares

Common

Stock

(25.7%)

Value

Consumer

Discretionary

(3.1%)

-

continued

23,018

Penn

National

Gaming,

Inc.

h

$

779,159

77,051

Planet

Fitness,

Inc.

h

4,022,062

120,274

Playa

Hotels

and

Resorts

NV

h,j

436,595

900

PLENUS

Company,

Ltd.

13,750

357

Pool

Corporation

113,062

13,051

PulteGroup,

Inc.

569,024

3,277

PVH

Corporation

159,459

19,165

Qurate

Retail,

Inc.

h

209,090

2,021

Red

Robin

Gourmet

Burgers,

Inc.

h

17,664

61,972

Red

Rock

Resorts,

Inc.

679,213

10,826

Redrow

plc

60,442

1,214

Restaurant

Brands

International,

Inc.

68,615

5,899

RH

h

1,695,550

1,700

Rinnai

Corporation

139,338

6,254

Royal

Caribbean

Cruises,

Ltd.

304,632

20,545

Ruth's

Hospitality

Group,

Inc.

137,549

7,818

Sally

Beauty

Holdings,

Inc.

h

90,767

2,500

Sangetsu

Company,

Ltd.

34,196

2,943

Scandic

Hotels

Group

AB

i

10,170

1,432

SeaWorld

Entertainment,

Inc.

h

20,721

900

SHIMAMURA

Company,

Ltd.

62,585

2,682

Signet

Jewelers,

Ltd.

28,805

19,192

Six

Flags

Entertainment

Corporation

333,749

27,728

Skyline

Corporation

h

782,761

13,391

Sleep

Number

Corporation

h

622,681

1,600

Sony

Corporation

124,312

2,020

Sony

Corporation

ADR

157,479

15,847

Standard

Motor

Products,

Inc.

720,722

34,602

Stoneridge,

Inc.

h

716,953

853

Strategic

Education,

Inc.

107,657

23,400

Sumitomo

Electric

Industries,

Ltd.

261,439

600

Sumitomo

Forestry

Company,

Ltd.

6,708

11,500

Sumitomo

Rubber

Industries,

Ltd.

95,673

1,236

Super

Retail

Group,

Ltd.

7,812

19,938

Tailored

Brands,

Inc.

6,043

400

Takara

Standard

Company,

Ltd.

5,401

29,602

Taylor

Morrison

Home

Corporation

h

694,167

41,815

Taylor

Wimpey

plc

64,501

17,936

Tenneco,

Inc.

h

132,906

75,835

Texas

Roadhouse,

Inc.

4,261,169

10,027

Thor

Industries,

Inc.

1,142,978

379

Thule

Group

AB

i

11,274

15,180

TJX

Companies,

Inc.

789,208

18,979

Toll

Brothers,

Inc.

724,998

8,015

TopBuild

Corporation

h

1,057,339

1,700

Toyoda

Gosei

Company,

Ltd.

33,334

600

Toyota

Motor

Corporation

35,618

9,705

Tri

Pointe

Homes,

Inc.

h

162,268

1,806

Tupperware

Brands

Corporation

27,867

7,998

Ulta

Beauty,

Inc.

h

1,543,534

3,764

Urban

Outfitters,

Inc.

h

62,257

2,874

Vail

Resorts,

Inc.

551,894

167

Wayfair,

Inc.

h

44,437

7,530

William

Hill

plc

10,252

406

Williams-Sonoma,

Inc.

35,371

13,211

Wingstop,

Inc.

2,064,219

2,176

Workhorse

Group,

Inc.

h

33,772

1,841

YETI

Holdings,

Inc.

h

90,006

2,086

Yum!

Brands,

Inc.

189,930

1,100

Z

Holdings

Corporation

5,849

36,277

Zumiez,

Inc.

h

837,999

Total

98,983,646

Shares

Common

Stock

(25.7%)

Value

Consumer

Staples

(0.8%)

1,268

Andersons,

Inc.

$

18,031

1,500

Arcs

Company,

Ltd.

34,803

12,043

BJ's

Wholesale

Club

Holdings,

Inc.

h

482,322

401

British

American

Tobacco

plc

13,252

1,962

Carlsberg

AS

289,767

19,052

Casey's

General

Stores,

Inc.

3,032,888

2,408

Central

Garden

&

Pet

Company

h

91,167

36,838

Coca-Cola

Company

1,740,227

17,362

Colgate-Palmolive

Company

1,340,346

2,704

Costco

Wholesale

Corporation

880,233

151,856

Cott

Corporation

2,157,874

1,440

Davide

Campari-Milano

NV

14,537

62,195

e.l.f.

Beauty,

Inc.

h

1,110,803

4,668

Edgewell

Personal

Care

Company

h

139,527

416

Elior

Participations

SCA

i

2,304

2,031

ForFarmers

BV

13,039

53

George

Weston,

Ltd.

4,003

497

Glanbia

plc

6,034

45,901

Hain

Celestial

Group,

Inc.

h

1,559,716

165

Heineken

NV

15,984

3,100

Japan

Tobacco,

Inc.

52,987

10,144

John

B.

Sanfilippo

&

Son,

Inc.

894,396

500

Kao

Corporation

36,272

1,300

Kewpie

Corporation

23,140

650

Kimberly-Clark

Corporation

98,826

1,671

Lamb

Weston

Holdings,

Inc.

100,394

13

Lindt

&

Spruengli

AG

100,644

328

L'Oreal

SA

110,086

1,663

McCormick

&

Company,

Inc.

324,119

500

Ministop

Company,

Ltd.

6,847

15,486

Monster

Beverage

Corporation

h

1,215,341

5,490

Nestle

SA

652,880

1,254

Orkla

ASA

12,334

10,527

PepsiCo,

Inc.

1,449,147

6,830

Philip

Morris

International,

Inc.

524,612

8,438

Procter

&

Gamble

Company

1,106,391

99

Royal

Unibrew

AS

10,016

3,596

Seneca

Foods

Corporation

h

140,891

1,300

Seven

&

I

Holdings

Company,

Ltd.

39,285

500

Shiseido

Company,

Ltd.

27,858

38,085

Simply

Good

Foods

Company

h

915,563

3,769

Sprouts

Farmers

Markets,

Inc.

h

99,426

2,400

Sugi

Holdings

Company,

Ltd.

173,414

3,500

Sundrug

Company,

Ltd.

119,108

4,314

TreeHouse

Foods,

Inc.

h

189,039

113,534

Turning

Point

Brands,

Inc.

3,732,998

200

Unicharm

Corporation

9,047

1,328

Unilever

NV

78,472

9,860

Vector

Group,

Ltd.

86,965

7,640

Wal-Mart

Stores,

Inc.

988,616

Total

26,265,971

Energy

(0.5%)

27,207

Abraxas

Petroleum

Corporation

h

5,496

24,879

Antero

Midstream

Corporation

141,064

21,353

Apache

Corporation

327,769

77,429

Archrock,

Inc.

515,677

5,143

BP

plc

ADR

113,352

498

Canadian

Natural

Resources,

Ltd.

8,785

30,755

Centennial

Resource

Development,

Inc.

h

24,213

11,407

CGG

SA

h

9,764

8,223

ChampionX

Corporation

h

78,201

5,496

Chevron

Corporation

461,334

33,718

Cimarex

Energy

Company

824,742

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

169

Shares

Common

Stock

(25.7%)

Value

Energy

(0.5%)

-

continued

31,750

CNX

Resources

Corporation

h

$

306,387

14,245

Concho

Resources,

Inc.

748,432

1,390

ConocoPhillips

51,972

15,689

Continental

Resources,

Inc.

271,263

13,431

Core

Laboratories

NV

286,483

6,322

Delek

US

Holdings,

Inc.

110,509

43,173

Devon

Energy

Corporation

452,885

17,776

Diamondback

Energy,

Inc.

708,551

22,000

Eneos

Holdings,

Inc.

77,145

12,831

Eni

SPA

114,296

59,360

EnLink

Midstream,

LLC

145,432

3,575

Enterprise

Products

Partners,

LP

62,920

8,588

EOG

Resources,

Inc.

402,348

40,656

EQT

Corporation

590,325

33,136

Equitrans

Midstream

Corporation

319,762

2,343

Evolution

Petroleum

Corporation

6,139

19,214

Exterran

Corporation

h

95,494

9,565

Exxon

Mobil

Corporation

402,495

28,433

Frank's

International

NV

h

64,827

232

Gaztransport

Et

Technigaz

SA

21,572

31,352

Gran

Tierra

Energy,

Inc.

h

9,092

3,490

Halliburton

Company

50,012

70,177

Helmerich

&

Payne,

Inc.

1,251,256

5,251

John

Wood

Group

plc

13,053

32,079

Kosmos

Energy,

Ltd.

51,647

17,536

Liberty

Oilfield

Services,

Inc.

99,078

288

Lundin

Energy

AB

6,718

66,206

Marathon

Oil

Corporation

363,471

3,110

Marathon

Petroleum

Corporation

118,802

1,665

Nabors

Industries,

Ltd.

70,613

15,577

NexTier

Oilfield

Solutions,

Inc.

h

39,254

118,814

Nine

Energy

Service,

Inc.

h

220,994

27,601

Oceaneering

International,

Inc.

h

155,118

1,098

OMV

AG

h

34,677

1,422

ONEOK,

Inc.

39,688

51,943

Patterson-UTI

Energy,

Inc.

201,279

7,416

PBF

Energy,

Inc.

64,371

3,562

PDC

Energy,

Inc.

h

50,794

11,640

Peabody

Energy

Corporation

36,317

2,137

Pioneer

Natural

Resources

Company

207,118

16,650

Plains

GP

Holdings,

LP

132,201

8,426

ProPetro

Holding

Corporation

h

45,248

38,060

QEP

Resources,

Inc.

55,948

17,226

Range

Resources

Corporation

111,280

11,717

Royal

Dutch

Shell

plc,

Class

A

171,251

18,762

Royal

Dutch

Shell

plc,

Class

B

263,353

11,173

RPC,

Inc.

h

33,184

8,878

Schlumberger,

Ltd.

161,047

43,032

SEACOR

Holdings,

Inc.

h

1,251,371

5,028

SM

Energy

Company

14,833

61,279

Southwestern

Energy

Company

h

148,908

39,559

Talos

Energy,

Inc.

h

269,397

6,664

Targa

Resources

Corporation

121,818

1,897

TC

Energy

Corporation

86,462

2,192

Tenaris

SA

ADR

25,646

6,967

Total

SE

263,658

47,610

Transocean,

Ltd.

h

97,124

16,694

Tullow

Oil

plc

5,582

9,186

Valero

Energy

Corporation

516,529

1,140

Vermilion

Energy

Inc

4,647

362

Washington

H.

Soul

Pattinson

and

Company,

Ltd.

5,050

1,346

Whitecap

Resources,

Inc.

2,221

188

Woodside

Petroleum,

Ltd.

2,674

Shares

Common

Stock

(25.7%)

Value

Energy

(0.5%)

-

continued

217,674

WPX

Energy,

Inc.

h

$

1,299,514

Total

15,921,932

Financials

(3.3%)

466

1st

Source

Corporation

15,434

10,124

AB

Industrivarden

h

249,734

2,840

Aflac,

Inc.

101,019

17,260

AG

Mortgage

Investment

Trust,

Inc.

48,155

4,600

AIA

Group,

Ltd.

41,478

47,980

Air

Lease

Corporation

1,258,036

2,077

Alleghany

Corporation

1,084,859

2,817

Allianz

SE

584,457

47,833

Ally

Financial,

Inc.

961,443

3,204

American

Equity

Investment

Life

Holding

Company

81,542

7,528

American

Express

Company

702,513

48,722

American

Financial

Group,

Inc.

2,960,836

2,110

American

International

Group,

Inc.

67,815

4,047

Ameriprise

Financial,

Inc.

621,741

27,459

Ameris

Bancorp

633,616

2,459

Aon

plc

504,636

100

Aozora

Bank,

Ltd.

1,600

7,278

Apollo

Commercial

Real

Estate

Finance,

Inc.

67,685

3,270

Argo

Group

International

Holdings,

Ltd.

109,578

15,171

Arthur

J.

Gallagher

&

Company

1,630,731

5,662

Artisan

Partners

Asset

Management,

Inc.

205,134

33,664

Associated

Banc-Corp

432,246

128,874

Assured

Guaranty,

Ltd.

2,813,319

2,054

Baloise

Holding

AG

313,389

20,004

Bank

Leumi

Le-Israel

BM

101,408

27,679

Bank

of

America

Corporation

688,653

2,438

Bank

of

Marin

Bancorp

76,578

833

Bank

of

Montreal

45,573

35,261

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

917,844

862

Bank

OZK

20,731

12,127

BankFinancial

Corporation

88,406

6,769

BankUnited,

Inc.

136,328

16,879

Banner

Corporation

598,023

8,055

Berkshire

Hathaway,

Inc.

h

1,577,008

17,051

Berkshire

Hills

Bancorp,

Inc.

169,828

2,569

BlackRock,

Inc.

1,477,201

5,286

Blackstone

Mortgage

Trust,

Inc.

127,234

3,155

BOK

Financial

Corporation

175,733

60,455

Boston

Private

Financial

Holdings,

Inc.

355,778

89,828

Bridgewater

Bancshares,

Inc.

h

834,502

8,612

Brighthouse

Financial,

Inc.

h

244,064

35,340

BrightSphere

Investment

Group

474,970

4,745

Brown

&

Brown,

Inc.

215,755

5,024

Byline

Bancorp,

Inc.

65,111

2,979

Capital

One

Financial

Corporation

190,060

100

Cboe

Global

Markets,

Inc.

8,770

5,959

Central

Pacific

Financial

Corporation

92,722

10,977

Charles

Schwab

Corporation

363,888

1,160

Chubb,

Ltd.

147,598

22,130

CI

Financial

Corporation

304,165

3,588

Cincinnati

Financial

Corporation

279,613

34,150

CIT

Group,

Inc.

647,825

8,419

Citigroup,

Inc.

421,034

25,415

Citizens

Financial

Group,

Inc.

630,546

1,782

CME

Group,

Inc.

296,133

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

170

Shares

Common

Stock

(25.7%)

Value

Financials

(3.3%)

-

continued

7,674

Cohen

&

Steers,

Inc.

$

461,821

57,775

Colony

Capital,

Inc.

110,928

31,888

Columbia

Banking

System,

Inc.

922,520

32,043

Comerica,

Inc.

1,234,296

4,880

Commonwealth

Bank

of

Australia

248,269

18,936

Community

Trust

Bancorp,

Inc.

579,631

20,087

Cullen/Frost

Bankers,

Inc.

1,447,469

16,600

DBS

Group

Holdings,

Ltd.

239,798

827

Deutsche

Boerse

AG

150,468

5,196

Deutsche

Pfandbriefbank

AG

h,i

32,917

538

Diamond

Hill

Investment

Group,

Inc.

61,348

12,277

Discover

Financial

Services

606,852

16,659

DnB

ASA

h

255,871

7,548

East

West

Bancorp,

Inc.

261,614

5,417

Ellington

Residential

Mortgage

REIT

59,858

4,003

Encore

Capital

Group,

Inc.

h

146,230

5,785

Enterprise

Financial

Services

Corporation

168,112

27,337

Essent

Group,

Ltd.

979,485

3,860

Euronext

NV

i

445,900

18,886

Evercore,

Inc.

1,044,396

299,403

Everi

Holdings,

Inc.

h

1,700,609

4,118

FBL

Financial

Group,

Inc.

143,224

1,563

Federal

Agricultural

Mortgage

Corporation

93,014

5,470

Fifth

Third

Bancorp

108,634

12,372

Financial

Institutions,

Inc.

182,734

5,686

First

American

Financial

Corporation

290,043

738

First

Bancshares,

Inc.

14,694

25,755

First

Busey

Corporation

440,410

1,795

First

Citizens

BancShares,

Inc.

764,437

9,663

First

Financial

Corporation

323,034

65,133

First

Interstate

BancSystem,

Inc.

1,896,022

629

First

Mid-Illinois

Bancshares,

Inc.

15,354

15,748

First

Midwest

Bancorp,

Inc.

191,102

1,658

First

of

Long

Island

Corporation

24,721

9,069

First

Republic

Bank

1,020,081

32,500

FlexiGroup,

Ltd.

28,984

16,535

Glacier

Bancorp,

Inc.

583,851

280

Goldman

Sachs

Group,

Inc.

55,429

23,986

Granite

Point

Mortgage

Trust,

Inc.

162,865

19,673

Great

Southern

Bancorp,

Inc.

709,605

17,565

Great

Western

Bancorp,

Inc.

228,345

62

Groupe

Bruxelles

Lambert

SA

5,378

26,596

Hamilton

Lane,

Inc.

1,921,295

34,516

Hancock

Whitney

Corporation

657,875

1,284

Hanmi

Financial

Corporation

11,851

12,776

Hanover

Insurance

Group,

Inc.

1,301,619

14,961

Hartford

Financial

Services

Group,

Inc.

633,149

47,287

Heartland

Financial

USA,

Inc.

1,477,246

127,804

Heritage

Commerce

Corporation

866,511

15,778

Hometrust

Bancshares,

Inc.

227,519

21,915

Horizon

Bancorp,

Inc.

221,561

9,096

Houlihan

Lokey,

Inc.

498,461

12,609

HSBC

Holdings

plc

56,776

152

IGM

Financial,

Inc.

3,737

20,561

Independent

Bank

Corporation

287,134

33,251

Interactive

Brokers

Group,

Inc.

1,649,250

4,776

International

Bancshares

Corporation

145,286

65,395

Israel

Discount

Bank,

Ltd.

201,064

8,161

J.P.

Morgan

Chase

&

Company

788,679

Shares

Common

Stock

(25.7%)

Value

Financials

(3.3%)

-

continued

443

Janus

Henderson

Group

plc

$

9,254

500

Japan

Exchange

Group,

Inc.

11,873

4,500

Japan

Post

Bank

Company,

Ltd.

33,572

800

Japan

Post

Holdings

Company,

Ltd.

5,464

1,300

Julius

Baer

Group,

Ltd.

57,070

29,280

Kemper

Corporation

2,299,066

84,978

KeyCorp

1,020,586

542

L

E

Lundbergforetagen

AB

h

25,460

6,945

Lakeland

Bancorp,

Inc.

70,700

4,282

Laurentian

Bank

of

Canada

j

84,876

6,261

Loews

Corporation

227,963

12,234

M&T

Bank

Corporation

1,296,192

3,774

Manulife

Financial

Corporation

50,575

1,243

Markel

Corporation

h

1,298,363

153

MarketAxess

Holdings,

Inc.

79,055

2,542

Marsh

&

McLennan

Companies,

Inc.

296,397

3,623

Mercantile

Bank

Corporation

77,134

22,781

Meridian

Bancorp,

Inc.

259,817

2,470

MetLife,

Inc.

93,489

25,165

MidWestOne

Financial

Group,

Inc.

454,983

9,300

Mitsubishi

UFJ

Financial

Group,

Inc.

34,850

1,464

Mizrahi

Tefahot

Bank,

Ltd.

30,685

3,930

Morgan

Stanley

192,098

441

Morningstar,

Inc.

74,106

11,248

Mr.

Cooper

Group,

Inc.

h

183,680

600

MS

and

AD

Insurance

Group

Holdings,

Inc.

15,077

5,590

MSCI,

Inc.

2,101,728

2,544

National

Bank

of

Canada

120,111

242

National

Western

Life

Group,

Inc.

47,139

1,353

NBT

Bancorp,

Inc.

40,306

13,773

Northern

Trust

Corporation

1,079,115

4,181

Northwest

Bancshares,

Inc.

41,183

201

OFG

Bancorp

2,629

3,834

Old

Republic

International

Corporation

61,612

11,318

Old

Second

Bancorp,

Inc.

94,166

766

Onex

Corporation

34,050

100

ORIX

Corporation

1,081

9,420

PacWest

Bancorp

172,150

1,304

Paragon

Banking

Group

plc

5,346

1,156

Pargesa

Holding

SA

91,720

387

Park

National

Corporation

33,189

708

Peapack-Gladstone

Financial

Corporation

11,526

3,317

Peoples

Bancorp,

Inc.

66,572

58,611

Popular,

Inc.

2,175,054

3,884

Power

Corporation

of

Canada

68,926

28,140

Premier

Financial

Corporation

497,515

15,278

Primerica,

Inc.

1,828,165

51,240

Prosight

Global,

Inc.

h

402,746

1,986

Provident

Financial

Services,

Inc.

27,109

15,090

QCR

Holdings,

Inc.

450,889

56,773

Radian

Group,

Inc.

847,053

26,859

Raymond

James

Financial,

Inc.

1,866,163

30,290

Redwood

Trust,

Inc.

215,968

17,593

Reinsurance

Group

of

America,

Inc.

1,499,803

7,735

Renasant

Corporation

179,684

2,357

Royal

Bank

of

Canada

162,594

1,535

S&P

Global,

Inc.

537,634

2,041

Safety

Insurance

Group,

Inc.

154,442

1,421

Sandy

Spring

Bancorp,

Inc.

32,854

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

171

Shares

Common

Stock

(25.7%)

Value

Financials

(3.3%)

-

continued

44,489

Santander

Consumer

USA

Holdings,

Inc.

j

$

816,818

85,255

Seacoast

Banking

Corporation

of

Florida

h

1,609,614

29,791

SEI

Investments

Company

1,558,963

11,604

Selective

Insurance

Group,

Inc.

630,561

1,500

Senshu

Ikeda

Holdings,

Inc.

2,209

236

Signature

Bank

24,197

3,300

Singapore

Exchange,

Ltd.

19,686

10,290

SLM

Corporation

69,663

17,401

Starwood

Property

Trust,

Inc.

260,145

13,715

State

Auto

Financial

Corporation

212,720

8,545

Sun

Life

Financial,

Inc.

333,073

8,582

SVB

Financial

Group

h

1,924,685

799

Swiss

Life

Holding

AG

291,988

120,979

Synovus

Financial

Corporation

2,437,727

12,513

T.

Rowe

Price

Group,

Inc.

1,728,045

2,282

TCF

Financial

Corporation

62,732

4,777

Territorial

Bancorp,

Inc.

104,951

10,017

Texas

Capital

Bancshares,

Inc.

h

332,765

14,654

TMX

Group,

Ltd.

1,497,947

1,600

Tokio

Marine

Holdings,

Inc.

67,560

540

Topdanmark

AS

23,094

225

Torchmark

Corporation

17,910

14,915

Toronto-Dominion

Bank

659,981

22,311

TPG

RE

Finance

Trust,

Inc.

193,659

9,136

TriCo

Bancshares

255,808

52,671

Triumph

Bancorp,

Inc.

h

1,379,980

3,140

Truist

Financial

Corporation

117,624

29,090

TrustCo

Bank

Corporation

168,431

19,374

Two

Harbors

Investment

Corporation

105,201

1,340

Univest

Financial

Corporation

20,489

1,700

Walker

&

Dunlop,

Inc.

85,697

6,924

Washington

Trust

Bancorp,

Inc.

230,846

38,038

Webster

Financial

Corporation

1,037,296

15,595

Wells

Fargo

&

Company

378,335

6,342

WesBanco,

Inc.

125,762

83,172

Western

Alliance

Bancorp

2,990,033

33,788

Western

Asset

Mortgage

Capital

Corporation

71,293

581

Westwood

Holdings

Group,

Inc.

6,600

38,627

Wintrust

Financial

Corporation

1,653,236

49,648

Zions

Bancorporations

NA

1,612,071

Total

105,005,446

Health

Care

(4.2%)

14,290

Abbott

Laboratories

1,438,146

2,857

AbbVie,

Inc.

271,158

2,648

Acadia

Healthcare

Company,

Inc.

h

78,937

63,561

ACADIA

Pharmaceuticals,

Inc.

h

2,642,231

1,234

Acceleron

Pharma,

Inc.

h

122,376

18,980

ADMA

Biologics,

Inc.

h

67,759

4,072

Adverum

Biotechnologies,

Inc.

h

68,287

10,628

Agile

Therapeutics,

Inc.

h

26,570

13,470

Agilent

Technologies,

Inc.

1,297,565

28,871

Agios

Pharmaceuticals,

Inc.

h

1,308,434

5,485

Akebia

Therapeutics,

Inc.

h

61,267

6,347

Alexion

Pharmaceuticals,

Inc.

h

650,504

5,632

Align

Technology,

Inc.

h

1,654,794

4,070

Alkermes

plc

h

73,301

5,224

AmerisourceBergen

Corporation

523,393

8,176

Amgen,

Inc.

2,000,422

26,777

AMN

Healthcare

Services,

Inc.

h

1,471,128

8,374

AnaptysBio,

Inc.

h

150,397

7,534

Anavex

Life

Sciences

Corporation

h

31,793

Shares

Common

Stock

(25.7%)

Value

Health

Care

(4.2%)

-

continued

1,001

Anthem,

Inc.

$

274,074

7,825

Arena

Pharmaceuticals,

Inc.

h

480,377

6,073

Argenx

SE

ADR

h

1,397,579

2,430

Assembly

Biosciences,

Inc.

h

53,946

3,000

Astellas

Pharmaceutical,

Inc.

46,794

5,193

Atara

Biotherapeutics,

Inc.

h

64,341

2,161

Athenex,

Inc.

h

22,928

237

Atrion

Corporation

146,964

1,398

AVROBIO,

Inc.

h

23,696

42,166

Axonics

Modulation

Technologies,

Inc.

h,j

1,786,152

1,173

Axsome

Therapeutics,

Inc.

h

83,670

30,699

Bausch

Health

Companies,

Inc.

h

560,871

5,828

Baxter

International,

Inc.

503,423

2,333

Becton,

Dickinson

and

Company

656,366

435

Biogen,

Inc.

h

119,490

17,872

Biohaven

Pharmaceutical

Holding

Company,

Ltd.

h

1,144,523

2,003

Bio-Rad

Laboratories,

Inc.

h

1,051,355

13,952

Bio-Techne

Corporation

3,839,032

3,104

Bluebird

Bio,

Inc.

h

188,413

799

Blueprint

Medicines

Corporation

h

58,471

1,947

Bruker

Corporation

86,875

4,278

Cantel

Medical

Corporation

202,135

76,237

Catalent,

Inc.

h

6,658,540

2,740

Centene

Corporation

h

178,785

6,832

Cerner

Corporation

474,482

5,751

Charles

River

Laboratories

International,

Inc.

h

1,144,391

1,729

Chemed

Corporation

850,996

3,200

Chugai

Pharmaceutical

Company,

Ltd.

144,478

981

Cigna

Holding

Company

169,409

6,092

Clovis

Oncology,

Inc.

h

35,273

5,946

Community

Health

Systems,

Inc.

h

29,611

18,306

CryoLife,

Inc.

h

355,319

2,169

CSL,

Ltd.

421,876

2,228

CVS

Health

Corporation

140,230

4,811

CytomX

Therapeutics,

Inc.

h

33,725

1,300

Daiichi

Sankyo

Company,

Ltd.

115,033

3,147

Danaher

Corporation

641,359

1,301

Deciphera

Pharmaceuticals,

Inc.

h

60,327

7,577

Dexcom,

Inc.

h

3,300,087

13,876

Dynavax

Technologies

Corporation

h

112,534

18,038

Edwards

Lifesciences

Corporation

h

1,414,360

300

Eisai

Company,

Ltd.

24,212

4,811

Eli

Lilly

and

Company

723,045

3,452

Encompass

Health

Corporation

235,012

4,138

Gilead

Sciences,

Inc.

287,715

32,001

GlaxoSmithKline

plc

637,472

2,508

GlaxoSmithKline

plc

ADR

101,123

11,481

Global

Blood

Therapeutics,

Inc.

h

774,738

1,526

Grifols

SA

44,461

50,418

Guardant

Health,

Inc.

h

4,294,605

11,316

Haemonetics

Corporation

h

991,961

79,404

Halozyme

Therapeutics,

Inc.

h

2,158,995

950

HCA

Healthcare,

Inc.

120,308

2,283

HealthStream,

Inc.

h

50,123

12,320

Hill-Rom

Holdings,

Inc.

1,197,750

997

Humana,

Inc.

391,273

61

ICU

Medical,

Inc.

h

11,208

561

IDEXX

Laboratories,

Inc.

h

223,138

21,230

ImmunoGen,

Inc.

h

87,255

9,135

Immunomedics,

Inc.

h

385,771

1,466

Incyte

Corporation

h

144,782

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

172

Shares

Common

Stock

(25.7%)

Value

Health

Care

(4.2%)

-

continued

3,523

Insmed,

Inc.

h

$

92,021

20,954

Inspire

Medical

Systems,

Inc.

h

2,081,989

10,223

Insulet

Corporation

h

2,078,949

2,263

Intuitive

Surgical,

Inc.

h

1,551,151

3,197

Invitae

Corporation

h

93,352

4,848

Iovance

Biotherapeutics,

Inc.

h

140,931

6,272

IQVIA

Holding,

Inc.

h

993,422

6,335

Jazz

Pharmaceuticals,

Inc.

h

685,764

19,763

Johnson

&

Johnson

2,880,655

10,973

Kadmon

Holdings,

Inc.

h

40,161

600

KYORIN

Holdings,

Inc.

10,900

3,000

Laboratory

Corporation

of

America

Holdings

h

578,760

48,926

LHC

Group,

Inc.

h

9,545,952

6,537

Ligand

Pharmaceuticals,

Inc.

h,j

766,006

217

LNA

Sante

13,093

1,100

M3,

Inc.

56,488

5,162

MacroGenics,

Inc.

h

131,115

418

Masimo

Corporation

h

92,010

17,236

Medtronic

plc

1,662,929

10,669

Merck

&

Company,

Inc.

856,081

3,187

Mersana

Therapeutics,

Inc.

h

63,358

3,254

Mesa

Laboratories,

Inc.

771,003

1,137

Mettler-Toledo

International,

Inc.

h

1,063,095

503

Mirati

Therapeutics,

Inc.

h

61,019

6,938

Molina

Healthcare,

Inc.

h

1,281,449

1,334

Momenta

Pharmaceuticals,

Inc.

h

39,340

12,706

MyoKardia,

Inc.

h

1,145,192

5,605

Myovant

Sciences,

Ltd.

h

85,196

34,829

Natera,

Inc.

h

1,672,489

10,644

National

Healthcare

Corporation

631,402

8,604

Nektar

Therapeutics

h

190,665

953

Neogen

Corporation

h

73,162

11,400

Neurocrine

Biosciences,

Inc.

h

1,372,104

27,914

Nevro

Corporation

h

3,711,445

10,480

Novartis

AG

863,209

8,118

Novo

Nordisk

AS

532,643

3,867

Novo

Nordisk

AS

ADR

252,631

2,000

Olympus

Corporation

35,973

126,213

Optinose,

Inc.

h

643,055

4,757

Orthifix

Medical,

Inc.

h

146,087

4,553

PerkinElmer,

Inc.

541,397

918

Pfizer,

Inc.

35,325

21,313

PRA

Health

Sciences,

Inc.

h

2,271,113

4,568

Precision

BioSciences,

Inc.

h

29,052

3,884

Quest

Diagnostics,

Inc.

493,540

1,416

Reata

Pharmaceuticals,

Inc.

h

209,143

4,078

Recordati

SPA

219,031

12,127

Repligen

Corporation

h

1,830,086

455

Replimune

Group,

Inc.

h

9,086

2,892

Roche

Holding

AG

1,001,663

5,388

Sage

Therapeutics,

Inc.

h

245,531

4,576

Sarepta

Therapeutics,

Inc.

h

702,508

9

Siegfried

Holding

AG

4,702

42,121

Silk

Road

Medical,

Inc.

h,j

1,956,942

816

Sonova

Holding

AG

h

184,501

10,855

Spectrum

Pharmaceuticals,

Inc.

h

32,456

1,399

STERIS

plc

223,322

7,657

Stryker

Corporation

1,480,098

875

Surmodics,

Inc.

h

41,379

33,738

Syneos

Health,

Inc.

h

2,104,914

100

Sysmex

Corporation

7,690

59,134

Tactile

Systems

Technology,

Inc.

h

2,423,311

3,300

Takeda

Pharmaceutical

Company,

Ltd.

119,680

115

Tecan

Group

AG

48,230

Shares

Common

Stock

(25.7%)

Value

Health

Care

(4.2%)

-

continued

8,660

Teleflex,

Inc.

$

3,231,046

9,751

Tenet

Healthcare

Corporation

h

257,816

700

Terumo

Corporation

26,482

6,357

Thermo

Fisher

Scientific,

Inc.

2,631,480

4,860

Tilray,

Inc.

h

35,867

300

Tsumura

&

Company

7,476

2,287

U.S.

Physical

Therapy,

Inc.

189,958

1,940

uniQure

B.V.

h

80,956

1,810

United

Therapeutics

Corporation

h

201,761

7,944

UnitedHealth

Group,

Inc.

2,405,284

7,184

Universal

Health

Services,

Inc.

789,522

8,729

Varian

Medical

Systems,

Inc.

h

1,245,803

21,896

VBI

Vaccines,

Inc.

h

89,117

19,634

Veeva

Systems,

Inc.

h

5,194,567

2,248

Vertex

Pharmaceuticals,

Inc.

h

611,456

1,538

Viking

Therapeutics,

Inc.

h

10,797

2,410

Waters

Corporation

h

513,691

491

West

Pharmaceutical

Services,

Inc.

132,015

605

Zimmer

Biomet

Holdings,

Inc.

81,590

25,487

Zoetis,

Inc.

3,865,868

Total

132,699,197

Industrials

(3.9%)

1,632

3M

Company

245,567

28,209

A.O.

Smith

Corporation

1,357,981

3,305

Aalberts

NV

118,029

794

Acuity

Brands,

Inc.

78,685

5,792

AECOM

h

209,612

5,768

Aegion

Corporation

h

88,943

36,197

Aerojet

Rocketdyne

Holdings,

Inc.

h

1,493,126

42,289

AGCO

Corporation

2,775,427

10,061

Allegion

plc

1,000,667

112,943

Altra

Industrial

Motion

Corporation

3,866,039

32

AMERCO

10,167

14,065

American

Airlines

Group,

Inc.

156,403

26,887

AMETEK,

Inc.

2,507,213

10,089

Arcosa,

Inc.

425,958

66,860

ASGN,

Inc.

h

4,577,236

7,671

Assa

Abloy

AB

169,346

8,175

Atlas

Copco

AB,

Class

A

362,900

3,402

Atlas

Copco

AB,

Class

B

131,666

4,561

Avis

Budget

Group,

Inc.

h

118,130

29,943

AZZ,

Inc.

945,600

2,685

Bloom

Energy

Corporation

h

32,650

2,174

Boeing

Company

343,492

23,942

BWX

Technologies,

Inc.

1,305,318

2,579

Carlisle

Companies,

Inc.

307,107

5,080

Carrier

Global

Corporation

138,379

20,967

Casella

Waste

Systems,

Inc.

h

1,161,781

5,404

Caterpillar,

Inc.

718,084

41,720

CBIZ,

Inc.

h

1,008,790

26,297

Chart

Industries,

Inc.

h

1,802,133

1,526

CIA

De

Distribucion

Integral

28,492

12,649

Copart,

Inc.

h

1,179,519

6,026

Cornerstone

Building

Brands,

Inc.

h

34,167

4,414

CRA

International,

Inc.

184,373

27,719

Crane

Company

1,568,064

16,478

CSW

Industrials,

Inc.

1,100,566

1,190

CSX

Corporation

84,895

40,345

Curtiss-Wright

Corporation

3,595,546

200

Daikin

Industries,

Ltd.

35,189

390

Dart

Group

plc

3,287

3,380

Delta

Air

Lines,

Inc.

84,399

4,309

Douglas

Dynamics,

Inc.

152,323

31,780

EMCOR

Group,

Inc.

2,176,930

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

173

Shares

Common

Stock

(25.7%)

Value

Industrials

(3.9%)

-

continued

18,434

Emerson

Electric

Company

$

1,143,092

11,154

Encore

Wire

Corporation

559,819

10,190

Expeditors

International

of

Washington,

Inc.

861,157

22,994

Fluor

Corporation

234,309

21,734

Forrester

Research,

Inc.

h

763,081

14,308

FuelCell

Energy,

Inc.

h

31,907

370

Geberit

AG

204,209

6,639

Generac

Holdings,

Inc.

h

1,046,174

9,086

General

Dynamics

Corporation

1,333,280

9,289

Gorman-Rupp

Company

281,085

1,100

GS

Yuasa

Corporation

17,105

18,969

GWA

Group,

Ltd.

38,561

1,400

Hanwa

Company,

Ltd.

24,877

8,783

Heico

Corporation

844,222

29,096

Helios

Technologies,

Inc.

1,100,702

500

Hino

Motors,

Ltd.

2,883

12,526

Honeywell

International,

Inc.

1,871,009

11,344

Hubbell,

Inc.

1,531,100

4,369

Huntington

Ingalls

Industries,

Inc.

758,939

3,373

ICF

International,

Inc.

228,049

24,685

IDEX

Corporation

4,068,582

2,367

Illinois

Tool

Works,

Inc.

437,871

4,500

Inaba

Denki

Sangyo

Company,

Ltd.

102,960

944

Ingersoll

-

Rand,

Inc.

h

29,821

11,275

John

Bean

Technologies

Corporation

1,057,144

4,890

Johnson

Controls

International

plc

188,167

600

Kamigumi

Company,

Ltd.

10,950

690

Kansas

City

Southern

118,576

5,700

Kinden

Corporation

88,356

4,080

Koninklijke

Philips

NV

h

210,818

250

Landstar

System,

Inc.

30,445

6,168

Legrand

SA

475,753

2,199

Lennox

International,

Inc.

589,640

54,207

Lincoln

Electric

Holdings,

Inc.

4,899,771

905

Linde

Public

Limited

Company

221,825

2,910

Lockheed

Martin

Corporation

1,102,803

20,873

Manpower,

Inc.

1,435,854

17,500

Marubeni

Corporation

80,569

3,407

Masonite

International

Corporation

h

287,380

24,460

McDermott

International,

Ltd.

h

86,833

9,547

Mercury

Systems,

Inc.

h

739,224

176,997

Meritor,

Inc.

h

4,026,682

31,757

Middleby

Corporation

h

2,637,736

11,200

Mitsubishi

Corporation

225,678

1,700

Mitsuboshi

Belting,

Ltd.

28,137

18,300

Mitsui

&

Company,

Ltd.

273,587

6,095

MSC

Industrial

Direct

Company,

Inc.

402,331

8,488

NAPCO

Security

Technologies,

Inc.

h

223,913

5,849

National

Express

Group

plc

11,638

100

Nidec

Corporation

7,944

100

Nikkon

Holdings

Company,

Ltd.

1,822

6,300

Nitto

Kogyo

Corporation

102,489

3,178

Nobina

AB

h,i

20,017

4,057

Nordson

Corporation

785,557

1,745

Norfolk

Southern

Corporation

335,406

548

Northrop

Grumman

Corporation

178,105

18,676

Old

Dominion

Freight

Line,

Inc.

3,414,346

1,160

Otis

Worldwide

Corporation

72,778

9,608

PageGroup

plc

43,991

6,241

Parker-Hannifin

Corporation

1,116,640

Shares

Common

Stock

(25.7%)

Value

Industrials

(3.9%)

-

continued

50,223

Primoris

Services

Corporation

$

805,075

7,878

Quad/Graphics,

Inc.

24,501

53,158

Raven

Industries,

Inc.

1,148,744

2,320

Raytheon

Technologies

Corporation

131,498

2,300

Recruit

Holdings

Company,

Ltd.

71,750

2,237

Redde

Northgate

plc

4,811

12,574

Regal-Beloit

Corporation

1,156,431

19,352

RELX

plc

407,403

1,361

Republic

Services,

Inc.

118,747

77,067

Ritchie

Brothers

Auctioneers,

Inc.

3,566,661

9,138

Rockwell

Automation,

Inc.

1,993,363

6,110

Roper

Industries,

Inc.

2,642,269

7,350

Ryder

System,

Inc.

269,230

24,787

Saia,

Inc.

h

2,960,807

4,552

Sandvik

AB

h

85,070

100

Sanwa

Holdings

Corporation

857

4,322

Schneider

Electric

SE

495,577

1,853

SEEK,

Ltd.

28,500

6,213

Signify

NV

h,i

186,411

11,475

Simpson

Manufacturing

Company,

Inc.

1,108,026

9,003

SiteOne

Landscape

Supply,

Inc.

h

1,152,654

7,430

SKF

AB

137,550

70,600

Sojitz

Corporation

148,096

79,885

Southwest

Airlines

Company

2,467,648

2,154

SP

Plus

Corporation

h

34,227

1,019

Spirax-Sarco

Engineering

plc

136,174

5,113

Spirit

Aerosystems

Holdings,

Inc.

100,061

3,611

Spirit

Airlines,

Inc.

h

57,090

2,163

SPX

FLOW,

Inc.

h

86,693

25,192

Standex

International

Corporation

1,349,032

12,600

Sumitomo

Corporation

139,982

62,760

Summit

Materials,

Inc.

h

923,827

500

Taikisha,

Ltd.

14,053

3,326

Teledyne

Technologies,

Inc.

h

1,020,084

3,423

Thermon

Group

Holdings,

Inc.

h

46,382

1,700

Toppan

Forms

Company,

Ltd.

16,056

10,316

Toro

Company

736,047

1,735

Transcontinental,

Inc.

20,000

19,168

Trex

Company,

Inc.

h

2,670,677

35,325

TriMas

Corporation

h

826,605

1,600

Tsubakimoto

Chain

Company

37,554

3,591

UniFirst

Corporation

669,650

5,965

Union

Pacific

Corporation

1,034,033

8,241

United

Airlines

Holdings,

Inc.

h

258,603

29,165

United

Rentals,

Inc.

h

4,531,366

18,605

Valmont

Industries,

Inc.

2,254,926

9,842

Verisk

Analytics,

Inc.

1,857,284

1,394

Vinci

SA

119,975

7,281

Waste

Connections,

Inc.

745,356

4,688

Watsco,

Inc.

1,106,696

56,831

Willdan

Group,

Inc.

h

1,401,452

7,640

XPO

Logistics,

Inc.

h

573,153

1,000

Yuasa

Trading

Company,

Ltd.

26,739

Total

124,637,334

Information

Technology

(6.0%)

8,790

Accenture

plc

1,975,816

4,066

Adobe,

Inc.

h

1,806,605

5,238

ADTRAN,

Inc.

65,056

12,624

Advanced

Energy

Industries,

Inc.

h

928,748

18,946

Advanced

Micro

Devices,

Inc.

h

1,466,989

500

Advantest

Corporation

27,300

38,335

Agilysys,

Inc.

h

803,502

18,223

Akamai

Technologies,

Inc.

h

2,048,994

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

174

Shares

Common

Stock

(25.7%)

Value

Information

Technology

(6.0%)

-

continued

18,682

Alliance

Data

Systems

Corporation

$

828,734

10,637

Alteryx,

Inc.

h

1,866,687

1,820

Amadeus

IT

Holding

SA

90,882

4,520

American

Software,

Inc.

74,444

40,139

Amphenol

Corporation

4,245,101

1,196

Analog

Devices,

Inc.

137,361

45,707

Anaplan,

Inc.

h

2,075,555

7,220

ANSYS,

Inc.

h

2,242,532

25,888

Apple,

Inc.

11,003,436

140

ASM

International

NV

21,416

1,267

ASML

Holding

NV

450,468

3,083

Aspen

Technology,

Inc.

h

299,853

8,493

Atlassian

Corporation

plc

h

1,500,288

10,722

Automatic

Data

Processing,

Inc.

1,425,061

18,638

Avalara,

Inc.

h

2,505,879

5,935

Avnet,

Inc.

158,583

100

Azbil

Corporation

3,334

20,508

Bandwidth,

Inc.

h,j

2,969,148

2,729

BE

Semiconductor

Industries

NV

122,019

22,374

Benchmark

Electronics,

Inc.

455,535

35,034

Blackline,

Inc.

h

3,114,873

91

Broadcom,

Ltd.

28,824

6,377

Broadridge

Financial

Solutions,

Inc.

856,686

1,454

CACI

International,

Inc.

h

302,170

2,400

Canon,

Inc.

38,622

223

Capgemini

SA

28,922

32,292

CDK

Global,

Inc.

1,467,994

7,184

CDW

Corporation

835,140

662

CEVA,

Inc.

h

26,612

7,291

CGI,

Inc.

h

520,759

94,256

Change

Healthcare,

Inc.

h

1,099,025

40,747

Ciena

Corporation

h

2,424,854

36,926

Cisco

Systems,

Inc.

1,739,215

16,685

Cognex

Corporation

1,115,726

10,094

CommScope

Holding

Company,

Inc.

h

93,672

200

Computer

Engineering

&

Consulting,

Ltd.

2,873

27,019

Computer

Services,

Inc.

1,546,838

9,557

Computershare,

Ltd.

91,468

16,451

Coupa

Software,

Inc.

h

5,041,409

9,092

Cree,

Inc.

h

626,621

15,228

CTS

Corporation

302,428

100

Cybozu,

Inc.

2,964

26,325

Descartes

Systems

Group,

Inc.

h

1,482,887

678

Dialog

Semiconductor

plc

h

31,781

16,597

DocuSign,

Inc.

h

3,598,728

67,038

Dolby

Laboratories,

Inc.

4,665,845

2,088

Domo,

Inc.

h

67,192

40,406

Dropbox,

Inc.

h

919,236

4,217

DSP

Group,

Inc.

h

62,622

200

DTS

Corporation

3,827

34,316

Elastic

NV

h

3,300,856

17,330

Endava

plc

ADR

h

895,094

2,866

EPAM

Systems,

Inc.

h

831,369

7,190

ePlus,

Inc.

h

535,943

29,955

Euronet

Worldwide,

Inc.

h

2,879,874

59,673

Eventbrite,

Inc.

h,j

508,414

10,575

ExlService

Holdings,

Inc.

h

677,434

2,182

eXp

World

Holdings,

Inc.

h

43,356

4,284

F5

Networks,

Inc.

h

582,196

1,062

Fair

Isaac

Corporation

h

466,420

23,089

Five9,

Inc.

h

2,789,613

1,294

FLIR

Systems,

Inc.

53,908

2,200

Fuji

Soft,

Inc.

99,254

Shares

Common

Stock

(25.7%)

Value

Information

Technology

(6.0%)

-

continued

100

Fujitsu,

Ltd.

$

13,390

2,567

Gartner,

Inc.

h

319,951

17,162

Global

Payments,

Inc.

3,055,179

100

GMO

Payment

Gateway,

Inc.

10,484

22,365

Guidewire

Software,

Inc.

h

2,631,466

16,506

Halma

plc

468,835

27,849

Health

Catalyst,

Inc.

h,j

971,930

1,100

Hitachi,

Ltd.

32,949

1,000

Hoya

Corporation

98,620

8,004

II-VI,

Inc.

h

405,963

10,611

Inphi

Corporation

h

1,386,433

14,795

Intel

Corporation

706,165

4,024

InterDigital,

Inc.

241,520

3,218

International

Business

Machines

Corporation

395,621

5,482

Intuit,

Inc.

1,679,520

400

ITOCHU

Techno-Solutions

Corporation

16,246

3,121

Jack

Henry

&

Associates,

Inc.

556,474

200

Japan

Material

Company,

Ltd.

3,045

13,238

Juniper

Networks,

Inc.

335,980

400

Keyence

Corporation

168,675

5,593

KLA-Tencor

Corporation

1,117,649

5,825

Lam

Research

Corporation

2,196,957

400

Lasertec

Corporation

35,318

80,063

Lattice

Semiconductor

Corporation

h

2,489,159

7,336

Littelfuse,

Inc.

1,303,240

34,404

Lumentum

Holdings,

Inc.

h

3,193,723

4,994

ManTech

International

Corporation

347,483

11,927

MasterCard,

Inc.

3,679,837

53,781

Medallia,

Inc.

h

1,652,690

8,431

Methode

Electronics,

Inc.

237,754

46,468

Microsoft

Corporation

9,526,405

7,800

MicroStrategy,

Inc.

h

966,576

29,559

MKS

Instruments,

Inc.

3,766,999

7,183

MoneyGram

International,

Inc.

h

24,997

33,984

Monolithic

Power

Systems,

Inc.

9,006,100

5,614

Motorola

Solutions,

Inc.

784,837

13,953

MTS

Systems

Corporation

258,828

300

Murata

Manufacturing

Company,

Ltd.

19,269

48,857

National

Instruments

Corporation

1,734,423

7,300

NEC

Networks

&

System

Integration

Corporation

155,081

417

NetApp,

Inc.

18,473

11,604

Nice,

Ltd.

ADR

h,j

2,381,605

17,207

Nova

Measuring

Instruments,

Ltd.

h

884,440

9,087

Novanta,

Inc.

h

942,140

300

NS

Solutions

Corporation

7,900

300

NSD

Company,

Ltd.

5,455

200

NTT

Data

Corporation

2,274

105,400

Nuance

Communications,

Inc.

h

2,882,690

3,620

NVIDIA

Corporation

1,537,016

100

OBIC

Company,

Ltd.

17,933

14,068

Oracle

Corporation

780,071

400

Oracle

Corporation

Japan

48,185

300

Otsuka

Corporation

15,642

8,877

Palo

Alto

Networks,

Inc.

h

2,271,802

3,664

Paychex,

Inc.

263,515

5,308

PayPal

Holdings,

Inc.

h

1,040,740

15,542

Plexus

Corporation

h

1,154,615

4,122

Progress

Software

Corporation

143,693

9,282

Proofpoint,

Inc.

h

1,073,649

17,696

Q2

Holdings,

Inc.

h

1,664,309

7,471

QAD,

Inc.

295,179

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

175

Shares

Common

Stock

(25.7%)

Value

Information

Technology

(6.0%)

-

continued

1,260

QUALCOMM,

Inc.

$

133,069

1,089

Qualys,

Inc.

h

134,470

11,481

Rogers

Corporation

h

1,368,420

1,100

Ryoyo

Electro

Corporation

30,632

993

Sage

Group

plc

9,423

122,272

SailPoint

Technologies

Holdings,

Inc.

h

3,851,568

1,512

Salesforce.com,

Inc.

h

294,613

134

Samsung

Electronics

Company,

Ltd.

GDR

162,501

223

SAP

SE

35,201

8,635

ScanSource,

Inc.

h

198,173

3,145

Semtech

Corporation

h

175,271

11,173

ServiceNow,

Inc.

h

4,907,182

3,774

Silicon

Laboratories,

Inc.

h

379,325

248

Skyworks

Solutions,

Inc.

36,104

4,665

Square,

Inc.

h

605,750

65,547

STMicroelectronics

NV

ADR

j

1,831,383

15,045

Synopsys,

Inc.

h

2,997,265

6,723

TE

Connectivity,

Ltd.

598,818

393

Technology

One,

Ltd.

2,358

16,713

Teradyne,

Inc.

1,486,788

17,893

Texas

Instruments,

Inc.

2,282,252

600

TIS,

Inc.

12,849

500

Tokyo

Electron,

Ltd.

138,359

284

Tyler

Technologies,

Inc.

h

101,459

6,252

VeriSign,

Inc.

h

1,323,423

36,002

Virtusa

Corporation

h

1,461,681

12,471

Visa,

Inc.

2,374,478

490

VMware,

Inc.

h,j

68,703

7,384

WEX,

Inc.

h

1,169,404

13,856

Zscaler,

Inc.

h

1,799,202

Total

190,800,091

Materials

(1.1%)

7,616

AdvanSix,

Inc.

h

94,819

329

Air

Liquide

SA

54,114

5,300

Air

Water,

Inc.

68,718

2,325

Anglo

American

plc

56,284

8,465

AptarGroup,

Inc.

975,168

3,894

Avery

Dennison

Corporation

441,346

3,530

Axalta

Coating

Systems,

Ltd.

h

78,366

449

Balchem

Corporation

45,017

16,464

Ball

Corporation

1,212,244

487

Barrick

Gold

Corporation

14,074

2,534

BHP

Group,

Ltd.

66,717

26,689

Boise

Cascade

Company

1,243,441

5,901

Cabot

Corporation

215,269

2,665

Celanese

Corporation

259,038

2,300

Centamin

plc

6,157

3,680

CF

Industries

Holdings,

Inc.

115,294

23,026

Chemours

Company

426,672

56

Christian

Hansen

Holding

AS

6,390

1,856

Croda

International

plc

138,522

23,832

Eastman

Chemical

Company

1,778,582

6,893

Ecolab,

Inc.

1,289,542

114,808

Element

Solutions,

Inc.

h

1,246,815

75

EMS-CHEMIE

Holding

AG

64,768

183

Eramet

SA

h

4,984

22,270

Ferroglobe

Representation

&

Warranty

Insurance

Trust

c,h

2

31

Givaudan

SA

128,393

6,010

Granges

AB

h

48,545

3,595

Hecla

Mining

Company

19,844

9,337

Hexpol

AB

h

62,125

6,108

Hochschild

Mining

plc

21,644

Shares

Common

Stock

(25.7%)

Value

Materials

(1.1%)

-

continued

667

Holmen

AB

$

22,988

10,873

IAMGOLD

Corporation

h

54,148

260

IMCD

NV

26,886

4,640

Ingevity

Corporation

h

271,347

14,596

Innospec,

Inc.

1,097,181

263,641

Ivanhoe

Mines,

Ltd.

h

929,027

17,238

Kaiser

Aluminum

Corporation

1,067,894

3,319

Koninklijke

DSM

NV

508,027

5,433

Kraton

Performance

Polymers,

Inc.

h

71,444

4,700

Kyoei

Steel,

Ltd.

55,883

600

Lintec

Corporation

13,999

169,668

Louisiana-Pacific

Corporation

5,373,386

468

MAG

Silver

Corporation

h

7,907

11,407

Martin

Marietta

Materials,

Inc.

2,363,302

10,047

Materion

Corporation

576,899

8,230

Minerals

Technologies,

Inc.

385,822

22,584

Myers

Industries,

Inc.

340,115

13,854

Neenah,

Inc.

618,027

9,500

Nippon

Steel

Corporation

77,894

100

Nippon

Steel

Trading

Corporation

2,982

1,729

Northern

Star

Resources,

Ltd.

19,624

391

Novozymes

AS

23,389

7,251

Nucor

Corporation

304,179

9,059

Olin

Corporation

101,823

2,515

Olympic

Steel,

Inc.

26,609

416

Osisko

Gold

Royalties,

Ltd.

4,876

6,654

PPG

Industries,

Inc.

716,303

8,866

Quaker

Chemical

Corporation

1,720,004

3,242

Ramelius

Resources,

Ltd.

5,125

3,658

Reliance

Steel

&

Aluminum

Company

359,435

1,418

Rio

Tinto

plc

86,317

1,525

Rio

Tinto,

Ltd.

111,613

2,844

RPM

International,

Inc.

232,042

10,151

Ryerson

Holding

Corporation

h

57,150

13,666

Sandfire

Resources,

Ltd.

46,446

6,361

Sensient

Technologies

Corporation

332,108

1,374

Sherwin-Williams

Company

890,242

200

Shin-Etsu

Chemical

Company,

Ltd.

23,408

966

Sika

AG

212,261

5,734

Silver

Lake

Resources,

Ltd.

h

10,263

52,103

Steel

Dynamics,

Inc.

1,428,143

13,400

Sumitomo

Chemical

Company,

Ltd.

38,667

1,214

Symrise

AG

151,764

800

Taiyo

Holdings

Company,

Ltd.

37,794

3,500

Toagosei

Company,

Ltd.

33,369

24,200

Toray

Industries,

Inc.

104,751

2,400

Ube

Industries,

Ltd.

39,197

17,504

UFP

Technologies,

Inc.

h

755,123

15,116

United

States

Lime

&

Minerals,

Inc.

1,363,614

9,571

United

States

Steel

Corporation

63,743

6,074

UPM-Kymmene

Oyj

162,138

5,166

Verso

Corporation

63,077

2,156

W.

R.

Grace

&

Company

99,456

2,273

Worthington

Industries,

Inc.

85,056

Total

33,757,161

Real

Estate

(1.7%)

51,501

Agree

Realty

Corporation

3,449,022

6,453

Alexandria

Real

Estate

Equities,

Inc.

1,145,730

3,110

Allied

Properties

REIT

93,129

3,275

Alstria

Office

REIT

AG

h

48,956

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

176

Shares

Common

Stock

(25.7%)

Value

Real

Estate

(1.7%)

-

continued

30,339

American

Campus

Communities,

Inc.

$

1,081,282

1,868

American

Tower

Corporation

488,277

18,739

Apartment

Investment

&

Management

Company

727,448

12,791

Armada

Hoffler

Properties,

Inc.

123,305

59,208

Ascendas

REIT

153,258

7,800

Ascott

Trust

5,120

3,529

Ashford

Hospitality

Trust,

Inc.

13,834

498

AvalonBay

Communities,

Inc.

76,254

565

BBX

Capital

Corporation

7,865

230

Bluerock

Residential

Growth

REIT,

Inc.

1,665

29,747

Camden

Property

Trust

2,701,325

12,682

CareTrust

REIT,

Inc.

228,530

4,255

Castellum

AB

91,510

34,827

CBL

&

Associates

Properties,

Inc.

h

6,366

42,446

CBRE

Group,

Inc.

h

1,859,559

38,904

Cedar

Realty

Trust,

Inc.

31,648

2,970

Choice

Properties

REIT

28,116

5,849

City

Office

REIT,

Inc.

50,594

114

Cofinimmo

SA

16,272

19,624

Colliers

International

Group,

Inc.

1,059,892

7,086

Colony

Credit

Real

Estate,

Inc.

44,642

5,854

Columbia

Property

Trust,

Inc.

70,014

451

Community

Healthcare

Trust,

Inc.

20,624

4,925

Corepoint

Lodging,

Inc.

27,531

9,380

CoreSite

Realty

Corporation

1,210,489

3,965

CoStar

Group,

Inc.

h

3,369,298

2,320

CyrusOne,

Inc.

193,534

1,500

Daito

Trust

Construction

Company,

Ltd.

117,633

5,158

Digital

Realty

Trust,

Inc.

828,065

14,747

Diversified

Healthcare

Trust

57,440

19,271

Douglas

Emmett,

Inc.

561,557

26,600

Duke

Realty

Corporation

1,069,054

1,626

Easterly

Government

Properties,

Inc.

39,756

3,320

EastGroup

Properties,

Inc.

440,431

1,192

Entra

ASA

i

16,827

8,098

EPR

Properties

231,846

7,617

Equity

Lifestyle

Properties,

Inc.

520,393

15,900

Equity

Residential

852,717

53,621

Essential

Properties

Realty

Trust,

Inc.

863,298

4,265

Essex

Property

Trust,

Inc.

941,456

6,516

Farmland

Partners,

Inc.

45,026

52,080

First

Industrial

Realty

Trust,

Inc.

2,287,354

12,994

FirstService

Corporation

1,553,433

16,930

Four

Corners

Property

Trust,

Inc.

426,636

3,503

Franklin

Street

Properties

Corporation

18,391

2

Fukuoka

REIT

Corporation

2,321

11,611

Gaming

and

Leisure

Properties,

Inc.

420,434

12,100

Getty

Realty

Corporation

358,523

5,890

Gladstone

Commercial

Corporation

107,198

4,495

Granite

REIT

261,421

1

Hankyu

REIT,

Inc.

1,077

14,463

Healthcare

Realty

Trust,

Inc.

423,766

14,199

Healthcare

Trust

of

America,

Inc.

392,034

51,127

Host

Hotels

&

Resorts,

Inc.

551,149

4,113

Hudson

Pacific

Properties,

Inc.

96,943

7,000

Hysan

Development

Company,

Ltd.

19,339

Shares

Common

Stock

(25.7%)

Value

Real

Estate

(1.7%)

-

continued

9,673

Industrial

Logistics

Properties

Trust

$

204,197

3,933

Innovative

Industrial

Properties,

Inc.

409,937

3,438

Investors

Real

Estate

Trust

248,567

98

Japan

Hotel

REIT

Investment

Corporation

35,548

4,900

Jones

Lang

LaSalle,

Inc.

484,659

40,659

Kilroy

Realty

Corporation

2,369,200

820

Kungsleden

AB

6,632

3,934

Lamar

Advertising

Company

258,582

10,261

Lexington

Realty

Trust

119,028

15,600

Mapletree

Commercial

Trust

21,006

64,488

Medical

Properties

Trust,

Inc.

1,298,143

2,028

MGM

Growth

Properties

LLC

55,446

4

Mori

Trust

Sogo

REIT,

Inc.

4,669

1,629

National

Health

Investors,

Inc.

100,998

22,774

National

Retail

Properties,

Inc.

807,338

94,038

National

Storage

Affiliates

Trust

2,898,251

37,823

New

Residential

Investment

Corporation

299,936

11,153

New

Senior

Investment

Group,

Inc.

37,920

19,021

NexPoint

Residential

Trust,

Inc.

727,173

8

Nomura

Real

Estate

Master

Fund,

Inc.

9,921

9,774

Omega

Healthcare

Investors,

Inc.

316,482

5,036

One

Liberty

Properties,

Inc.

85,461

6,536

Physicians

Realty

Trust

117,909

1,845

Plymouth

Industrial

REIT,

Inc.

24,483

4,945

PotlatchDeltic

Corporation

211,696

12,416

Preferred

Apartment

Communities,

Inc.

89,768

2,073

PS

Business

Parks,

Inc.

285,970

2,916

PSP

Swiss

Property

AG

323,935

3,861

QTS

Realty

Trust,

Inc.

277,799

6,489

Quebecor,

Inc.

148,049

22,795

Rayonier,

Inc.

REIT

633,245

25,152

Retail

Properties

of

America,

Inc.

159,967

26,246

Rexford

Industrial

Realty,

Inc.

1,231,725

1,711

RioCan

REIT

19,110

838

RMR

Group,

Inc.

24,101

11,000

Road

King

Infrastructure,

Ltd.

14,797

37,842

Sabra

Health

Care

REIT,

Inc.

557,791

5,477

SBA

Communications

Corporation

1,706,305

64,263

Service

Properties

Trust

430,562

9,223

Spirit

Realty

Capital,

Inc.

317,825

10,651

STAG

Industrial,

Inc.

347,223

16,566

Store

Capital

Corporation

392,449

152,650

Sunstone

Hotel

Investors,

Inc.

1,141,822

1,060

Swiss

Prime

Site

AG

96,739

9,945

TAG

Immobilien

AG

261,498

11,321

Terreno

Realty

Corporation

687,864

23,255

UDR,

Inc.

841,831

5,290

UMH

Properties,

Inc.

65,067

388

Unibail-Rodamco-Westfield

20,352

10

United

Urban

Investment

Corporation

9,725

33,176

Uniti

Group,

Inc.

328,442

345

Universal

Health

Realty

Income

Trust

24,005

1,972

Waypoint

REIT,

Ltd.

3,552

25,900

Wing

Tai

Holdings,

Ltd.

32,260

5,550

WP

Carey,

Inc.

396,104

Total

53,953,671

Utilities

(0.3%)

2,293

AGL

Energy,

Ltd.

27,162

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

177

Shares

Common

Stock

(25.7%)

Value

Utilities

(0.3%)

-

continued

2,359

ALLETE,

Inc.

$

139,889

13,806

Alliant

Energy

Corporation

743,453

7,724

Artesian

Resources

Corporation

270,958

4,244

Black

Hills

Corporation

245,558

38,153

CenterPoint

Energy,

Inc.

725,289

1,565

Chesapeake

Utilities

Corporation

132,227

11,557

CMS

Energy

Corporation

741,728

6,970

Consolidated

Water

Company,

Ltd.

85,522

2,828

DTE

Energy

Company

327,002

1,530

Duke

Energy

Corporation

129,652

6,435

Enagas

SA

162,351

1,603

Enel

SPA

14,684

12,105

Entergy

Corporation

1,272,599

2,128

Essential

Utilities,

Inc.

96,505

1,966

Exelon

Corporation

75,907

1,970

FirstEnergy

Corporation

57,130

5,256

Hawaiian

Electric

Industries,

Inc.

190,583

4,958

IDACORP,

Inc.

462,333

5,127

MDU

Resources

Group,

Inc.

107,564

1,100

Middlesex

Water

Company

70,466

2,160

National

Fuel

Gas

Company

87,631

9,838

New

Jersey

Resources

Corporation

305,568

199

NextEra

Energy,

Inc.

55,859

1,667

Northland

Power,

Inc.

45,675

1,213

Northwest

Natural

Holding

Company

64,883

11,097

NorthWestern

Corporation

624,317

8,817

OGE

Energy

Corporation

290,079

4,876

Otter

Tail

Corporation

186,507

28,529

PNM

Resources,

Inc.

1,204,780

14,560

Portland

General

Electric

Company

642,533

1,630

South

Jersey

Industries,

Inc.

38,028

4,358

Southwest

Gas

Holdings,

Inc.

303,491

11,891

Spire,

Inc.

733,199

12,601

UGI

Corporation

420,117

3,471

Unitil

Corporation

149,774

Total

11,231,003

Total

Common

Stock

(cost

$692,495,513)

819,982,229

Principal

Amount

Long-Term

Fixed

Income

(

18.8%

)

Value

Asset-Backed

Securities

(0.6%)

Access

Group,

Inc.

72,650

0.672%, 

(LIBOR

1M

+

0.500%),

2/25/2036,

Ser.

2013-1,

Class

A

b,i

71,027

Aimco

550,000

1.578%, 

(LIBOR

3M

+

1.320%),

7/22/2032,

Ser.

2019-10A,

Class

A

b,i

540,583

Ares

CLO,

Ltd.

700,000

1.673%, 

(LIBOR

3M

+

1.400%),

10/17/2030,

Ser.

2018-28RA,

Class

A2

b,i

680,778

Benefit

Street

Partners

CLO

IV,

Ltd.

400,000

1.522%, 

(LIBOR

3M

+

1.250%),

1/20/2029,

Ser.

2014-IVA,

Class

A1RR

b,i

397,458

450,000

2.022%, 

(LIBOR

3M

+

1.750%),

1/20/2029,

Ser.

2014-IVA,

Class

A2RR

b,i

445,274

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Asset-Backed

Securities

(0.6%)

-

continued

Buttermilk

Park

CLO,

Ltd.

$

1,150,000

1.675%, 

(LIBOR

3M

+

1.400%),

10/15/2031,

Ser.

2018-1A,

Class

A2

b,i

$

1,117,611

Carlyle

Global

Market

Strategies

CLO,

Ltd.

750,000

1.725%, 

(LIBOR

3M

+

1.450%),

7/15/2031,

Ser.

2014-5A,

Class

A2RR

b,i

719,125

Carvana

Auto

Receivables

Trust

500,000

2.340%, 

6/15/2023,

Ser.

2019-3A,

Class

A3

i

505,535

CBAM,

Ltd.

800,000

1.555%, 

(LIBOR

3M

+

1.280%),

2/12/2030,

Ser.

2019-9A,

Class

A

b,i

792,239

Colony

American

Finance

Trust

831,950

2.835%, 

6/15/2052,

Ser.

2019-2,

Class

A

i

875,311

Commonbond

Student

Loan

Trust

104,066

0.672%, 

(LIBOR

1M

+

0.500%),

2/25/2044,

Ser.

2018-AGS,

Class

A2

b,i

102,535

CoreVest

American

Finance

Trust

990,340

2.705%, 

10/15/2052,

Ser.

2019-3,

Class

A

i

1,018,224

Dryden

Senior

Loan

Fund

650,000

1.672%, 

(LIBOR

3M

+

1.400%),

7/18/2030,

Ser.

2018-65A,

Class

A2

b,i

634,878

Earnest

Student

Loan

Program,

LLC

176,353

3.020%, 

5/25/2034,

Ser.

2016-B,

Class

A2

i

177,849

Galaxy

XX

CLO,

Ltd.

450,000

1.272%, 

(LIBOR

3M

+

1.000%),

4/20/2031,

Ser.

2015-20A,

Class

AR

b,i

437,963

Golub

Capital

Partners,

Ltd.

500,000

1.422%, 

(LIBOR

3M

+

1.150%),

10/20/2028,

Ser.

2018-39A,

Class

A1

b,i

494,112

416,000

1.472%, 

(LIBOR

3M

+

1.200%),

1/20/2031,

Ser.

2015-23A,

Class

AR

b,i

404,055

Harley

Marine

Financing,

LLC

1,394,209

5.682%, 

5/15/2043,

Ser.

2018-1A,

Class

A2

i

1,253,321

Home

Partners

of

America

Trust

954,331

2.908%, 

9/17/2039,

Ser.

2019-1,

Class

A

i

993,554

957,060

2.703%, 

10/19/2039,

Ser.

2019-2,

Class

A

i

985,771

Laurel

Road

Prime

Student

Loan

Trust

412,836

0.372%, 

11/25/2043,

Ser.

2018-D,

Class

A

b,i

429,894

Madison

Park

Funding

XIV,

Ltd.

525,000

1.658%, 

(LIBOR

3M

+

1.400%),

10/22/2030,

Ser.

2014-14A,

Class

A2RR

b,i

509,391

Magnetite

XII,

Ltd.

450,000

1.375%, 

(LIBOR

3M

+

1.100%),

10/15/2031,

Ser.

2015-12A,

Class

ARR

b,i

440,906

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

178

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Asset-Backed

Securities

(0.6%)

-

continued

Mountain

View

CLO,

Ltd.

$

300,000

1.395%, 

(LIBOR

3M

+

1.120%),

7/15/2031,

Ser.

2015-9A,

Class

A1R

b,i

$

291,079

National

Collegiate

Trust

289,128

0.467%, 

(LIBOR

1M

+

0.295%),

5/25/2031,

Ser.

2007-A,

Class

A

b,i

279,126

Neuberger

Berman

CLO

XIV,

Ltd.

550,000

1.277%, 

(LIBOR

3M

+

1.030%),

1/28/2030,

Ser.

2013-14A,

Class

AR2

b,i

541,052

Neuberger

Berman

CLO,

Ltd.

250,000

1.288%, 

(LIBOR

3M

+

1.030%),

4/22/2029,

Ser.

2014-17A,

Class

AR2

b,i

246,223

Octagon

Investment

Partners

XVI,

Ltd.

100,000

1.673%, 

(LIBOR

3M

+

1.400%),

7/17/2030,

Ser.

2013-1A,

Class

A2R

b,i

97,470

OneMain

Financial

Issuance

Trust

690,000

3.840%, 

5/14/2032,

Ser.

2020-1A,

Class

A

i

717,634

OZLM

VIII,

Ltd.

932,936

1.443%, 

(LIBOR

3M

+

1.170%),

10/17/2029,

Ser.

2014-8A,

Class

A1RR

b,i

918,147

Palmer

Square

Loan

Funding,

Ltd.

400,000

1.922%, 

(LIBOR

3M

+

1.650%),

4/20/2027,

Ser.

2019-1A,

Class

A2

b,i

394,806

PPM

CLO

3,

Ltd.

250,000

1.673%, 

(LIBOR

3M

+

1.400%),

7/17/2030,

Ser.

2019-3A,

Class

A

b,i

246,721

Pretium

Mortgage

Credit

Partners,

LLC

546,697

3.721%, 

2/27/2060,

Ser.

2020-NPL2,

Class

A1

i,k

547,602

RCO

Mortgage,

LLC

339,099

4.458%, 

10/25/2023,

Ser.

2018-2,

Class

A1

i,k

340,340

Shackleton

CLO,

Ltd.

300,000

1.445%, 

(LIBOR

3M

+

1.170%),

7/15/2031,

Ser.

2015-7RA,

Class

A1

b,i

292,457

SLM

Student

Loan

Trust

194,784

0.572%, 

(LIBOR

1M

+

0.400%),

3/25/2025,

Ser.

2010-1,

Class

A

b

184,052

Voya

CLO,

Ltd.

349,454

1.475%, 

(LIBOR

3M

+

1.200%),

10/15/2030,

Ser.

2012-4A,

Class

A1AR

b,i

342,936

Total

19,467,039

Basic

Materials

(0.2%)

Air

Products

and

Chemicals,

Inc.

450,000

2.700%, 

5/15/2040

508,083

Alcoa

Nederland

Holding

BV

160,000

5.500%, 

12/15/2027

i

172,448

Anglo

American

Capital

plc

12,000

4.125%, 

9/27/2022

i

12,658

320,000

4.875%, 

5/14/2025

i

363,634

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Basic

Materials

(0.2%)

-

continued

BWAY

Holding

Company

$

150,000

5.500%, 

4/15/2024

i

$

152,937

Cleveland-Cliffs,

Inc.

130,000

5.750%, 

3/1/2025

112,125

100,000

9.875%, 

10/17/2025

i

109,250

DowDuPont,

Inc.

425,000

4.493%, 

11/15/2025

496,582

EI

du

Pont

de

Nemours

&

Company

285,000

2.300%, 

7/15/2030

304,482

First

Quantum

Minerals,

Ltd.

215,000

7.500%, 

4/1/2025

i

217,150

Freeport-McMoRan,

Inc.

150,000

4.125%, 

3/1/2028

157,688

165,000

4.250%, 

3/1/2030

172,392

Glencore

Funding,

LLC

84,000

4.125%, 

5/30/2023

i

90,225

115,000

4.000%, 

3/27/2027

i

126,592

International

Paper

Company

230,000

4.350%, 

8/15/2048

286,941

Kinross

Gold

Corporation

6,000

5.125%, 

9/1/2021

6,212

168,000

5.950%, 

3/15/2024

190,922

265,000

4.500%, 

7/15/2027

302,599

Koppers,

Inc.

190,000

6.000%, 

2/15/2025

i

195,700

Krayton

Polymers,

LLC

200,000

7.000%, 

4/15/2025

i

207,000

Methanex

Corporation

240,000

5.250%, 

12/15/2029

232,200

Norbord,

Inc.

220,000

5.750%, 

7/15/2027

i

234,300

Novelis

Corporation

230,000

5.875%, 

9/30/2026

i

245,389

70,000

4.750%, 

1/30/2030

i

73,029

Olin

Corporation

240,000

5.125%, 

9/15/2027

232,800

Peabody

Securities

Finance

Corporation

220,000

6.375%, 

3/31/2025

i

110,000

Sherwin-Williams

Company

207,000

3.125%, 

6/1/2024

224,690

Syngenta

Finance

NV

275,000

3.933%, 

4/23/2021

i

277,760

Teck

Resources,

Ltd.

350,000

6.125%, 

10/1/2035

409,467

Tronox

Finance

plc

230,000

5.750%, 

10/1/2025

i

227,700

Vale

Overseas,

Ltd.

130,000

6.250%, 

8/10/2026

156,260

77,000

6.875%, 

11/21/2036

105,105

WestRock

Company

215,000

3.750%, 

3/15/2025

240,737

Xstrata

Finance

Canada,

Ltd.

9,000

4.950%, 

11/15/2021

i

9,424

Total

6,964,481

Capital

Goods

(0.3%)

AECOM

415,000

5.125%, 

3/15/2027

455,981

Amsted

Industries,

Inc.

280,000

5.625%, 

7/1/2027

i

295,400

Ardagh

Packaging

Finance

plc

200,000

5.250%, 

8/15/2027

i

209,354

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

179

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Capital

Goods

(0.3%)

-

continued

Berry

Global,

Inc.

$

170,000

4.875%, 

7/15/2026

i

$

179,563

Carrier

Global

Corporation

425,000

2.700%, 

2/15/2031

i

448,140

Cintas

Corporation

No.

2

9,000

2.900%, 

4/1/2022

9,335

135,000

3.700%, 

4/1/2027

155,398

CNH

Industrial

Capital,

LLC

200,000

4.875%, 

4/1/2021

205,172

CNH

Industrial

NV

125,000

3.850%, 

11/15/2027

134,921

Covanta

Holding

Corporation

210,000

6.000%, 

1/1/2027

217,350

Crown

Americas

Capital

Corporation

IV

320,000

4.500%, 

1/15/2023

337,766

Crown

Cork

&

Seal

Company,

Inc.

180,000

7.375%, 

12/15/2026

212,400

Emerson

Electric

Company

450,000

1.800%, 

10/15/2027

479,574

H&E

Equipment

Services,

Inc.

240,000

5.625%, 

9/1/2025

249,900

Ingersoll-Rand

Luxembourg

Finance

SA

450,000

3.500%, 

3/21/2026

499,358

Jeld-Wen,

Inc.

140,000

6.250%, 

5/15/2025

i

149,800

30,000

4.625%, 

12/15/2025

i

30,300

L3Harris

Technologies,

Inc.

333,000

3.950%, 

5/28/2024

366,104

Lockheed

Martin

Corporation

184,000

3.600%, 

3/1/2035

229,866

168,000

4.500%, 

5/15/2036

227,722

46,000

6.150%, 

9/1/2036

71,256

Northrop

Grumman

Corporation

320,000

3.850%, 

4/15/2045

398,309

Owens-Brockway

Glass

Container,

Inc.

69,000

5.000%, 

1/15/2022

i

69,173

Republic

Services,

Inc.

130,000

2.900%, 

7/1/2026

144,532

Reynolds

Group

Issuer,

Inc.

390,000

5.125%, 

7/15/2023

i

395,967

Roper

Technologies,

Inc.

70,000

3.650%, 

9/15/2023

76,510

116,000

4.200%, 

9/15/2028

140,219

Siemens

Financieringsmaatschappij

NV

362,000

4.200%, 

3/16/2047

i

512,433

Spirit

AeroSystems,

Inc.

70,000

7.500%, 

4/15/2025

i

68,796

Standard

Industries,

Inc.

310,000

4.375%, 

7/15/2030

i

334,800

Textron,

Inc.

300,000

3.375%, 

3/1/2028

317,038

TransDigm,

Inc.

115,000

6.250%, 

3/15/2026

i

121,325

320,000

5.500%, 

11/15/2027

303,584

United

Rentals

North

America,

Inc.

150,000

5.875%, 

9/15/2026

160,125

430,000

4.000%, 

7/15/2030

445,050

United

Technologies

Corporation

225,000

4.450%, 

11/16/2038

290,611

400,000

3.750%, 

11/1/2046

492,181

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Capital

Goods

(0.3%)

-

continued

WESCO

Distribution,

Inc.

$

70,000

7.250%, 

6/15/2028

i

$

76,475

Total

9,511,788

Collateralized

Mortgage

Obligations

(0.8%)

Ajax

Mortgage

Loan

Trust

606,685

4.360%, 

9/25/2065,

Ser.

2018-C,

Class

A

b,i

615,904

Angel

Oak

Mortgage

Trust

420,566

2.531%, 

1/26/2065,

Ser.

2020-2,

Class

A1A

b,i

428,150

Angel

Oak

Mortgage

Trust

I,

LLC

327,541

3.500%, 

7/25/2046,

Ser.

2016-1,

Class

A1

i

340,625

719,540

3.674%, 

7/27/2048,

Ser.

2018-2,

Class

A1

b,i

733,760

Banc

of

America

Alternative

Loan

Trust

24,477

6.000%, 

11/25/2035,

Ser.

2005-10,

Class

3CB1

23,190

Bellemeade

Re,

Ltd.

112,009

1.772%, 

(LIBOR

1M

+

1.600%),

4/25/2028,

Ser.

2018-1A,

Class

M1B

b,i

110,905

157,000

1.272%, 

(LIBOR

1M

+

1.100%),

7/25/2029,

Ser.

2019-3A,

Class

M1A

b,i

156,448

700,000

2.822%, 

(LIBOR

1M

+

2.650%),

6/25/2030,

Ser.

2020-1A,

Class

M1A

b,i

702,110

BRAVO

Residential

Funding

Trust

405,543

3.500%, 

3/25/2058,

Ser.

2019-1,

Class

A1C

i

417,106

CHL

Mortgage

Pass-Through

Trust

1,442,682

6.000%, 

11/25/2037,

Ser.

2007-18,

Class

1A2

1,158,218

CIM

Trust

776,170

5.000%, 

12/25/2057,

Ser.

2018-R3,

Class

A1

b,i

817,449

Citicorp

Mortgage

Securities,

Inc.

550,125

6.000%, 

7/25/2037,

Ser.

2007-6,

Class

1A4

536,179

Citigroup

Mortgage

Loan

Trust,

Inc.

100,046

5.500%, 

11/25/2035,

Ser.

2005-9,

Class

21A2

101,998

8,056

3.737%, 

3/25/2037,

Ser.

2007-AR4,

Class

2A1A

b

6,826

COLT

Funding,

LLC

201,181

3.470%, 

7/27/2048,

Ser.

2018-2,

Class

A1

b,i

203,113

Countrywide

Alternative

Loan

Trust

80,054

3.354%, 

10/25/2035,

Ser.

2005-43,

Class

4A1

b

74,573

122,926

6.500%, 

8/25/2036,

Ser.

2006-23CB,

Class

2A3

66,954

334,048

7.000%, 

10/25/2037,

Ser.

2007-24,

Class

A10

190,611

Countrywide

Home

Loan

Mortgage

Pass

Through

Trust

49,206

3.558%, 

11/25/2035,

Ser.

2005-22,

Class

2A1

b

44,671

Countrywide

Home

Loans,

Inc.

113,303

5.750%, 

4/25/2037,

Ser.

2007-3,

Class

A27

85,261

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

180

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Collateralized

Mortgage

Obligations

(0.8%)

-

continued

Credit

Suisse

First

Boston

Mortgage

Securities

Corporation

$

17,198

5.250%, 

10/25/2035,

Ser.

2005-9,

Class

1A3

$

17,230

Credit

Suisse

Mortgage

Capital

Certificates

505,761

3.393%, 

2/25/2024,

Ser.

2020-BPL1,

Class

A1

i,k

506,027

Credit

Suisse

Mortgage

Trust

1,538,989

3.552%, 

2/25/2060,

Ser.

2020-RPL2,

Class

A12

i

1,534,173

779,150

3.850%, 

9/25/2057,

Ser.

2018-RPL9,

Class

A1

b,i

826,682

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

47,633

6.000%, 

10/25/2021,

Ser.

2006-AR5,

Class

23A

42,089

Ellington

Financial

Mortgage

Trust

784,366

4.140%, 

10/25/2058,

Ser.

2018-1,

Class

A1FX

b,i

802,635

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

298,183

4.000%, 

7/15/2031,

Ser.

4104,

Class

KI

l

18,326

210,798

3.000%, 

2/15/2033,

Ser.

4170,

Class

IG

l

19,966

710,494

3.000%, 

3/15/2033,

Ser.

4180,

Class

PI

l

70,322

Federal

National

Mortgage

Association

-

REMIC

1,270,746

3.000%, 

12/25/2027,

Ser.

2012-137,

Class

AI

l

77,688

FWD

Securitization

Trust

1,186,543

2.810%, 

6/25/2049,

Ser.

2019-INV1,

Class

A1

b,i

1,214,731

Galton

Funding

Mortgage

Trust

2017-1

333,504

4.500%, 

10/25/2058,

Ser.

2018-2,

Class

A41

b,i

341,323

GS

Mortgage-Backed

Securities

Trust

316,880

2.625%, 

1/25/2059,

Ser.

2019-SL1,

Class

A1

b,i

319,430

J.P.

Morgan

Alternative

Loan

Trust

81,866

6.500%, 

3/25/2036,

Ser.

2006-S1,

Class

1A19

67,001

MASTR

Alternative

Loans

Trust

202,424

0.622%, 

(LIBOR

1M

+

0.450%),

12/25/2035,

Ser.

2005-6,

Class

2A1

b

35,570

Merrill

Lynch

Alternative

Note

Asset

Trust

97,652

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

65,875

MFRA

Trust

412,585

4.164%, 

7/25/2048,

Ser.

2018-NPL2,

Class

A1

i,k

412,177

New

Residential

Mortgage

Loan

Trust

493,557

4.335%, 

7/25/2050,

Ser.

2020-NPL1,

Class

A1

i,k

493,500

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Collateralized

Mortgage

Obligations

(0.8%)

-

continued

Preston

Ridge

Partners

Mortgage

Trust,

LLC

$

582,052

4.500%, 

1/25/2024,

Ser.

2019-1A,

Class

A1

i,k

$

585,791

506,561

3.500%, 

10/25/2024,

Ser.

2019-GS1,

Class

A1

b,i

504,056

RCO

Mortgage,

LLC

674,382

3.721%, 

5/24/2024,

Ser.

2019-1,

Class

A1

i,k

677,651

947,256

3.475%, 

11/25/2024,

Ser.

2019-2,

Class

A1

i,k

943,254

371,812

4.270%, 

12/26/2053,

Ser.

2018-VFS1,

Class

A1

b,i

388,857

Residential

Accredit

Loans,

Inc.

Trust

220,916

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

221,240

30,784

5.750%, 

9/25/2035,

Ser.

2005-QS13,

Class

2A3

30,576

Residential

Funding

Mortgage

Security

I

Trust

32,292

6.000%, 

7/25/2037,

Ser.

2007-S7,

Class

A20

30,019

Sequoia

Mortgage

Trust

171,174

3.530%, 

9/20/2046,

Ser.

2007-1,

Class

4A1

b

130,556

Silver

Hill

Trust

317,750

3.102%, 

11/25/2049,

Ser.

2019-SBC1,

Class

A1

b,i

323,613

Starwood

Mortgage

Residential

Trust

260,669

2.718%, 

4/25/2060,

Ser.

2020-2,

Class

A1

b,i

260,857

Structured

Adjustable

Rate

Mortgage

Loan

Trust

41,983

3.922%, 

9/25/2035,

Ser.

2005-18,

Class

1A1

b

33,449

Structured

Asset

Mortgage

Investments,

Inc.

52,685

0.482%, 

(LIBOR

1M

+

0.310%),

12/25/2035,

Ser.

2005-AR4,

Class

A1

b

48,412

Toorak

Mortgage

Corporation

1,250,000

4.458%, 

3/25/2022,

Ser.

2019-1,

Class

A1

i,k

1,257,198

2,000,000

3.721%, 

9/25/2022,

Ser.

2019-2,

Class

A1

1,997,628

400,000

2.734%, 

3/25/2023,

Ser.

2020-1,

Class

A1

i,k

392,356

Vericrest

Opportunity

Loan

Transferee

571,650

3.352%, 

8/25/2049,

Ser.

2019-NPL4,

Class

A1A

i,k

572,246

Verus

Securitization

Trust

76,199

2.853%, 

1/25/2047,

Ser.

2017-1A,

Class

A1

b,i

76,117

104,344

3.836%, 

2/25/2059,

Ser.

2019-1,

Class

A1

b,i

106,351

95,113

3.211%, 

5/25/2059,

Ser.

2019-2,

Class

A1

b,i

97,011

169,468

3.345%, 

5/25/2059,

Ser.

2019-2,

Class

A2

b,i

168,772

639,393

2.913%, 

7/25/2059,

Ser.

2019-INV2,

Class

A1

b,i

650,688

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

181

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Collateralized

Mortgage

Obligations

(0.8%)

-

continued

$

426,625

2.947%, 

11/25/2059,

Ser.

2019-INV3,

Class

A2

b,i

$

425,694

386,524

1.977%, 

4/25/2060,

Ser.

2020-INV1,

Class

A1

b,i

385,301

1,375,723

3.626%, 

4/25/2060,

Ser.

2020-3,

Class

A1

b,i

1,374,666

434,958

2.226%, 

5/25/2060,

Ser.

2020-2,

Class

A1

b,i

439,552

WaMu

Mortgage

Pass

Through

Certificates

46,593

3.709%, 

9/25/2036,

Ser.

2006-AR10,

Class

1A2

b

43,113

99,185

3.711%, 

10/25/2036,

Ser.

2006-AR12,

Class

1A1

b

94,239

Total

25,938,059

Commercial

Mortgage-Backed

Securities

(0.1%)

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

454,580

3.000%, 

3/15/2045,

Ser.

4741,

Class

GA

471,207

Federal

National

Mortgage

Association

-

ACES

5,999,599

1.770%, 

12/25/2028,

Ser.

2020-M11,

Class

IO

b,l

725,039

GS

Mortgage

Securities

Trust

700,000

3.666%, 

9/10/2047,

Ser.

2014-GC24,

Class

A4

761,469

800,000

3.470%, 

11/10/2048,

Ser.

2015-GS1,

Class

A2

859,629

Morgan

Stanley

Capital

I

Trust

2,850,000

1.973%, 

7/15/2053,

Ser.

2020-HR8,

Class

XA

b,l

424,415

UBS

Commercial

Mortgage

Trust

625,000

2.921%, 

10/15/2052,

Ser.

2019-C17,

Class

A4

687,121

Total

3,928,880

Communications

Services

(0.8%)

Altice

France

SA

130,000

5.500%, 

1/15/2028

i

137,150

AMC

Networks,

Inc.

145,000

5.000%, 

4/1/2024

147,356

American

Tower

Corporation

290,000

2.900%, 

1/15/2030

321,088

450,000

2.100%, 

6/15/2030

467,947

AT&T,

Inc.

450,000

2.300%, 

6/1/2027

476,580

550,000

4.350%, 

3/1/2029

657,187

97,000

4.300%, 

2/15/2030

116,499

180,000

5.250%, 

3/1/2037

232,427

180,000

4.900%, 

8/15/2037

225,884

126,000

6.350%, 

3/15/2040

179,279

125,000

5.550%, 

8/15/2041

165,958

500,000

3.100%, 

2/1/2043

e

512,169

British

Telecommunications

plc

425,000

4.500%, 

12/4/2023

474,938

CCO

Holdings,

LLC

275,000

5.500%, 

5/1/2026

i

290,895

190,000

5.125%, 

5/1/2027

i

201,578

470,000

4.750%, 

3/1/2030

i

500,256

60,000

4.500%, 

8/15/2030

i

63,594

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Communications

Services

(0.8%)

-

continued

$

110,000

4.250%, 

2/1/2031

i

$

114,729

Charter

Communications

Operating,

LLC

77,000

6.834%, 

10/23/2055

110,612

200,000

4.500%, 

2/1/2024

222,282

250,000

4.200%, 

3/15/2028

287,424

640,000

6.484%, 

10/23/2045

898,933

Clear

Channel

Worldwide

Holdings,

Inc.

210,000

5.125%, 

8/15/2027

i

205,800

Comcast

Corporation

400,000

4.950%, 

10/15/2058

616,251

225,000

4.049%, 

11/1/2052

295,415

140,000

2.750%, 

3/1/2023

148,375

245,000

3.950%, 

10/15/2025

283,765

400,000

4.250%, 

10/15/2030

501,619

360,000

4.400%, 

8/15/2035

467,632

243,000

4.750%, 

3/1/2044

342,480

150,000

4.600%, 

8/15/2045

207,651

Cox

Communications,

Inc.

250,000

3.350%, 

9/15/2026

i

280,918

92,000

4.600%, 

8/15/2047

i

123,276

Crown

Castle

International

Corporation

126,000

5.250%, 

1/15/2023

140,077

184,000

3.200%, 

9/1/2024

200,549

CSC

Holdings,

LLC

190,000

5.500%, 

5/15/2026

i

199,262

130,000

4.125%, 

12/1/2030

i

136,988

Discovery

Communications,

LLC

230,000

4.900%, 

3/11/2026

269,592

Embarq

Corporation

200,000

7.995%, 

6/1/2036

234,400

Entercom

Media

Corporation

110,000

6.500%, 

5/1/2027

i

98,175

Fox

Corporation

270,000

3.500%, 

4/8/2030

307,237

Front

Range

BidCo,

Inc.

270,000

4.000%, 

3/1/2027

i

270,597

Gray

Television,

Inc.

205,000

5.875%, 

7/15/2026

i

212,097

iHeartCommunications,

Inc.

120,000

4.750%, 

1/15/2028

i

119,136

Lamar

Media

Corporation

140,000

3.750%, 

2/15/2028

i

141,225

Level

3

Financing,

Inc.

330,000

4.625%, 

9/15/2027

i

346,913

240,000

4.250%, 

7/1/2028

i

250,200

Moody's

Corporation

13,000

2.750%, 

12/15/2021

13,366

Neptune

Finco

Corporation

345,000

10.875%, 

10/15/2025

i

369,875

Netflix,

Inc.

400,000

4.875%, 

4/15/2028

464,968

Nexstar

Escrow

Corporation

123,000

5.625%, 

8/1/2024

i

126,383

170,000

5.625%, 

7/15/2027

i

181,951

Omnicom

Group,

Inc.

85,000

3.600%, 

4/15/2026

95,644

135,000

4.200%, 

6/1/2030

160,513

SBA

Communications

Corporation

140,000

3.875%, 

2/15/2027

i

144,900

SFR

Group

SA

310,000

7.375%, 

5/1/2026

i

330,662

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

182

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Communications

Services

(0.8%)

-

continued

Sirius

XM

Radio,

Inc.

$

400,000

5.000%, 

8/1/2027

i

$

426,328

140,000

4.125%, 

7/1/2030

i

147,742

Sprint

Capital

Corporation

120,000

6.875%, 

11/15/2028

155,604

Sprint

Corporation

400,000

7.250%, 

9/15/2021

423,000

405,000

7.625%, 

2/15/2025

491,901

Telefonica

Emisiones

SAU

375,000

4.570%, 

4/27/2023

412,957

Telesat

Canada

/

Telesat,

LLC

300,000

4.875%, 

6/1/2027

i

304,500

Time

Warner

Entertainment

Company,

LP

160,000

8.375%, 

3/15/2023

189,552

T-Mobile

USA,

Inc.

450,000

4.500%, 

2/1/2026

463,500

475,000

3.750%, 

4/15/2027

i

539,700

400,000

4.375%, 

4/15/2040

i

489,696

Univision

Communications,

Inc.

140,000

6.625%, 

6/1/2027

i

140,392

VeriSign,

Inc.

240,000

4.750%, 

7/15/2027

260,587

Verizon

Communications,

Inc.

385,000

3.376%, 

2/15/2025

432,221

90,000

1.492%, 

(LIBOR

3M

+

1.100%),

5/15/2025

b

92,108

842,000

4.272%, 

1/15/2036

1,081,846

Viacom,

Inc.

126,000

5.850%, 

9/1/2043

160,034

Virgin

Media

Secured

Finance

plc

330,000

5.500%, 

8/15/2026

i

350,556

Vodafone

Group

plc

450,000

4.875%, 

6/19/2049

593,260

Walt

Disney

Company

500,000

2.200%, 

1/13/2028

528,949

475,000

2.650%, 

1/13/2031

516,323

300,000

3.500%, 

5/13/2040

344,621

Windstream

Services,

LLC

170,000

8.625%, 

10/31/2025

f,i

102,000

Ziggo

BV

180,000

5.500%, 

1/15/2027

i

190,136

Total

23,930,170

Consumer

Cyclical

(0.6%)

1011778

B.C.,

ULC

400,000

4.375%, 

1/15/2028

i

416,052

Allied

Universal

Holdco,

LLC

140,000

6.625%, 

7/15/2026

i

149,800

Allison

Transmission,

Inc.

280,000

5.000%, 

10/1/2024

i

285,390

Amazon.com,

Inc.

450,000

1.500%, 

6/3/2030

466,139

230,000

3.875%, 

8/22/2037

298,607

138,000

4.050%, 

8/22/2047

189,959

American

Honda

Finance

Corporation

450,000

2.150%, 

9/10/2024

475,237

Brookfield

Property

REIT,

Inc.

70,000

5.750%, 

5/15/2026

i

57,882

Brookfield

Residential

Properties,

Inc.

400,000

6.250%, 

9/15/2027

i

400,000

Carnival

Corporation

90,000

10.500%, 

2/1/2026

i

93,169

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Consumer

Cyclical

(0.6%)

-

continued

Cedar

Fair,

LP

$

180,000

5.250%, 

7/15/2029

$

170,046

Colt

Merger

Sub,

Inc.

190,000

6.250%, 

7/1/2025

i

198,930

D.R.

Horton,

Inc.

228,000

2.550%, 

12/1/2020

229,558

450,000

2.600%, 

10/15/2025

480,773

Dana,

Inc.

180,000

5.625%, 

6/15/2028

189,000

Ford

Motor

Company

80,000

9.000%, 

4/22/2025

94,250

40,000

9.625%, 

4/22/2030

53,072

Ford

Motor

Credit

Company,

LLC

63,000

3.200%, 

1/15/2021

63,000

130,000

1.576%, 

(LIBOR

3M

+

1.270%),

3/28/2022

b

124,808

450,000

4.063%, 

11/1/2024

459,990

440,000

4.134%, 

8/4/2025

450,956

General

Motors

Company

450,000

6.125%, 

10/1/2025

524,620

450,000

6.800%, 

10/1/2027

547,946

General

Motors

Financial

Company,

Inc.

9,000

4.375%, 

9/25/2021

9,308

235,000

3.150%, 

6/30/2022

241,513

84,000

3.950%, 

4/13/2024

89,580

Hanesbrands,

Inc.

300,000

4.875%, 

5/15/2026

i

327,000

Herc

Holdings,

Inc.

110,000

5.500%, 

7/15/2027

i

116,325

Hilton

Domestic

Operating

Company,

Inc.

390,000

4.875%, 

1/15/2030

409,500

Home

Depot,

Inc.

215,000

5.400%, 

9/15/2040

319,884

126,000

4.250%, 

4/1/2046

169,816

730,000

3.900%, 

6/15/2047

947,255

Hyundai

Capital

America

700,000

3.000%, 

6/20/2022

i

717,353

International

Game

Technology

plc

190,000

5.250%, 

1/15/2029

i

194,140

KB

Home

150,000

4.800%, 

11/15/2029

156,000

Landry's,

Inc.

200,000

6.750%, 

10/15/2024

i

140,000

Lennar

Corporation

9,000

2.950%, 

11/29/2020

8,963

215,000

4.125%, 

1/15/2022

220,106

60,000

4.750%, 

11/15/2022

63,300

475,000

4.875%, 

12/15/2023

511,912

145,000

4.500%, 

4/30/2024

156,962

Mastercard,

Inc.

360,000

3.300%, 

3/26/2027

415,052

320,000

3.950%, 

2/26/2048

423,512

Mattamy

Group

Corporation

345,000

5.250%, 

12/15/2027

i

357,937

McDonald's

Corporation

450,000

2.125%, 

3/1/2030

472,311

275,000

4.450%, 

3/1/2047

358,283

MGM

Resorts

International

290,000

6.000%, 

3/15/2023

303,050

20,000

5.750%, 

6/15/2025

20,650

Norwegian

Cruise

Line

Holdings,

Ltd.

90,000

10.250%, 

2/1/2026

i

89,663

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

183

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Consumer

Cyclical

(0.6%)

-

continued

Prime

Security

Services

Borrower,

LLC

$

410,000

5.750%, 

4/15/2026

i

$

455,100

Royal

Caribbean

Cruises,

Ltd.

90,000

9.125%, 

6/15/2023

i

92,025

Scientific

Games

International,

Inc.

200,000

5.000%, 

10/15/2025

i

198,250

ServiceMaster

Company,

LLC

320,000

5.125%, 

11/15/2024

i

329,600

Six

Flags

Entertainment

Corporation

120,000

5.500%, 

4/15/2027

i,j

113,400

Six

Flags

Theme

Parks,

Inc.

80,000

7.000%, 

7/1/2025

i

85,865

Staples,

Inc.

220,000

7.500%, 

4/15/2026

i

193,006

Target

Corporation

425,000

2.250%, 

4/15/2025

457,244

TJX

Companies,

Inc.

200,000

3.750%, 

4/15/2027

232,068

270,000

3.875%, 

4/15/2030

325,522

ViacomCBS,

Inc.

500,000

4.200%, 

5/19/2032

574,103

Visa,

Inc.

225,000

2.700%, 

4/15/2040

255,832

Volkswagen

Group

of

America

Finance,

LLC

500,000

4.250%, 

11/13/2023

i

552,170

Walmart,

Inc.

400,000

3.250%, 

7/8/2029

473,185

Wyndham

Destinations,

Inc.

110,000

6.625%, 

7/31/2026

i

113,537

Yum!

Brands,

Inc.

290,000

4.750%, 

1/15/2030

i

314,650

Total

18,424,116

Consumer

Non-Cyclical

(0.9%)

Abbott

Laboratories

80,000

3.400%, 

11/30/2023

87,337

79,000

3.750%, 

11/30/2026

92,990

381,000

4.750%, 

11/30/2036

535,692

AbbVie,

Inc.

6,000

2.900%, 

11/6/2022

6,311

400,000

2.800%, 

3/15/2023

i

416,806

210,000

3.600%, 

5/14/2025

235,124

275,000

2.950%, 

11/21/2026

i

303,497

105,000

4.700%, 

5/14/2045

137,749

750,000

4.875%, 

11/14/2048

1,032,698

Albertson's

Companies,

Inc.

350,000

7.500%, 

3/15/2026

i

393,750

Altria

Group,

Inc.

300,000

4.400%, 

2/14/2026

348,914

475,000

5.800%, 

2/14/2039

625,523

Amgen,

Inc.

450,000

3.375%, 

2/21/2050

527,057

125,000

3.125%, 

5/1/2025

138,535

Anheuser-Busch

Companies,

LLC

484,000

3.650%, 

2/1/2026

550,838

336,000

4.700%, 

2/1/2036

412,867

Anheuser-Busch

InBev

Worldwide,

Inc.

550,000

4.750%, 

4/15/2058

712,284

250,000

3.500%, 

6/1/2030

286,062

290,000

4.375%, 

4/15/2038

348,726

90,000

4.600%, 

4/15/2048

111,339

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Consumer

Non-Cyclical

(0.9%)

-

continued

Anthem,

Inc.

$

360,000

3.125%, 

5/15/2050

$

399,442

230,000

4.625%, 

5/15/2042

301,721

Aramark

Services,

Inc.

170,000

6.375%, 

5/1/2025

i

179,576

BAT

Capital

Corporation

184,000

4.540%, 

8/15/2047

210,574

Bausch

Health

Companies,

Inc.

200,000

7.000%, 

1/15/2028

i

217,500

50,000

5.000%, 

1/30/2028

i

50,249

Baxalta,

Inc.

118,000

4.000%, 

6/23/2025

134,781

Becton,

Dickinson

and

Company

196,000

3.734%, 

12/15/2024

218,082

225,000

3.700%, 

6/6/2027

257,464

Boston

Scientific

Corporation

126,000

7.375%, 

1/15/2040

205,796

Bunge,

Ltd.

Finance

Corporation

80,000

3.500%, 

11/24/2020

80,560

Campbell

Soup

Company

135,000

2.375%, 

4/24/2030

142,974

Cargill,

Inc.

450,000

3.250%, 

5/23/2029

i

513,945

Centene

Corporation

380,000

4.750%, 

1/15/2025

393,802

60,000

4.250%, 

12/15/2027

63,750

150,000

4.625%, 

12/15/2029

167,289

Cigna

Corporation

180,000

3.050%, 

10/15/2027

193,747

400,000

4.800%, 

8/15/2038

530,263

Clorox

Company

300,000

3.100%, 

10/1/2027

341,953

Conagra

Brands,

Inc.

230,000

4.300%, 

5/1/2024

257,271

Constellation

Brands,

Inc.

210,000

3.600%, 

2/15/2028

238,483

180,000

2.875%, 

5/1/2030

195,668

CVS

Health

Corporation

6,000

2.750%, 

12/1/2022

6,281

40,000

4.000%, 

12/5/2023

44,101

270,000

4.100%, 

3/25/2025

306,855

450,000

3.625%, 

4/1/2027

515,037

550,000

4.875%, 

7/20/2035

715,036

DaVita,

Inc.

220,000

4.625%, 

6/1/2030

i

234,091

DENTSPLY

SIRONA,

Inc.

550,000

3.250%, 

6/1/2030

601,659

Edgewell

Personal

Care

Company

90,000

5.500%, 

6/1/2028

i

97,425

Encompass

Health

Corporation

240,000

4.500%, 

2/1/2028

250,800

Energizer

Holdings,

Inc.

290,000

4.750%, 

6/15/2028

i

311,054

Express

Scripts

Holding

Company

425,000

4.800%, 

7/15/2046

493,577

General

Mills,

Inc.

240,000

2.875%, 

4/15/2030

269,136

HCA,

Inc.

570,000

5.375%, 

2/1/2025

642,675

Imperial

Brands

Finance

plc

475,000

3.875%, 

7/26/2029

i

518,281

JBS

Investments

II

GmbH

190,000

5.750%, 

1/15/2028

i

201,742

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

184

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Consumer

Non-Cyclical

(0.9%)

-

continued

JBS

USA,

LLC

$

135,000

5.750%, 

6/15/2025

i

$

138,544

210,000

5.500%, 

1/15/2030

i

231,525

Kellogg

Company

500,000

2.100%, 

6/1/2030

524,328

Keurig

Dr.

Pepper,

Inc.

375,000

3.200%, 

5/1/2030

425,605

Kimberly-Clark

Corporation

270,000

3.100%, 

3/26/2030

314,265

230,000

3.900%, 

5/4/2047

303,605

Kraft

Foods

Group,

Inc.

210,000

5.000%, 

6/4/2042

235,002

Kraft

Heinz

Foods

Company

350,000

4.625%, 

1/30/2029

398,710

310,000

3.750%, 

4/1/2030

i

335,908

Medtronic,

Inc.

151,000

4.375%, 

3/15/2035

204,938

13,000

4.625%, 

3/15/2045

18,744

Merck

&

Company,

Inc.

30,000

3.700%, 

2/10/2045

38,995

Molina

Healthcare,

Inc.

160,000

4.375%, 

6/15/2028

i

170,005

Mondelez

International

Holdings

Netherlands

BV

10,000

2.000%, 

10/28/2021

i

10,173

Mondelez

International,

Inc.

150,000

2.750%, 

4/13/2030

166,437

Mylan,

Inc.

45,000

3.125%, 

1/15/2023

i

47,533

Nestle

Holdings,

Inc.

400,000

3.900%, 

9/24/2038

i

532,045

Par

Pharmaceutical,

Inc.

200,000

7.500%, 

4/1/2027

i

212,726

Pernod

Ricard

SA

10,000

5.750%, 

4/7/2021

i

10,360

Post

Holdings,

Inc.

130,000

5.750%, 

3/1/2027

i

138,450

Quest

Diagnostics,

Inc.

500,000

2.800%, 

6/30/2031

548,271

Reynolds

American,

Inc.

257,000

5.700%, 

8/15/2035

327,787

Roche

Holdings,

Inc.

130,000

4.000%, 

11/28/2044

i

172,291

Scotts

Miracle-Gro

Company

220,000

4.500%, 

10/15/2029

232,925

Shire

Acquisitions

Investments

Ireland

Designated

Activity

Company

201,000

2.400%, 

9/23/2021

205,012

Simmons

Foods,

Inc.

135,000

5.750%, 

11/1/2024

i

135,675

Smithfield

Foods,

Inc.

165,000

2.650%, 

10/3/2021

i

164,650

Spectrum

Brands,

Inc.

70,000

5.500%, 

7/15/2030

i

72,625

Teleflex,

Inc.

430,000

4.625%, 

11/15/2027

464,946

Tenet

Healthcare

Corporation

100,000

4.625%, 

7/15/2024

102,250

300,000

5.125%, 

11/1/2027

i

318,750

Teva

Pharmaceutical

Finance

Netherlands

III

BV

3,000

2.200%, 

7/21/2021

2,977

220,000

2.800%, 

7/21/2023

213,356

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Consumer

Non-Cyclical

(0.9%)

-

continued

Thermo

Fisher

Scientific,

Inc.

$

270,000

4.133%, 

3/25/2025

$

310,958

Tyson

Foods,

Inc.

92,000

3.550%, 

6/2/2027

104,777

UnitedHealth

Group,

Inc.

250,000

2.950%, 

10/15/2027

284,242

755,000

4.625%, 

7/15/2035

1,028,727

Upjohn,

Inc.

500,000

2.300%, 

6/22/2027

i

526,282

VRX

Escrow

Corporation

800,000

6.125%, 

4/15/2025

i

826,000

Zoetis,

Inc.

9,000

3.450%, 

11/13/2020

9,054

288,000

4.700%, 

2/1/2043

402,560

Total

28,718,752

Energy

(0.6%)

Antero

Resources

Corporation

135,000

5.000%, 

3/1/2025

85,556

Apache

Corporation

140,000

4.375%, 

10/15/2028

139,825

110,000

5.100%, 

9/1/2040

106,975

Archrock

Partners,

LP

120,000

6.250%, 

4/1/2028

i

121,200

BP

Capital

Markets

America,

Inc.

45,000

3.119%, 

5/4/2026

50,183

250,000

3.543%, 

4/6/2027

283,748

BP

Capital

Markets

plc

350,000

3.279%, 

9/19/2027

395,325

Buckeye

Partners,

LP

40,000

4.125%, 

3/1/2025

i

40,200

165,000

3.950%, 

12/1/2026

163,763

65,000

4.125%, 

12/1/2027

63,375

Canadian

Natural

Resources,

Ltd.

200,000

3.450%, 

11/15/2021

205,268

140,000

2.050%, 

7/15/2025

143,134

215,000

2.950%, 

7/15/2030

220,570

Canadian

Oil

Sands,

Ltd.

125,000

9.400%, 

9/1/2021

i

132,983

Cheniere

Energy

Partners,

LP

425,000

5.625%, 

10/1/2026

448,906

Chesapeake

Energy

Corporation

124,000

11.500%, 

1/1/2025

i,m,n

11,470

Comstock

Resources,

Inc.

90,000

9.750%, 

8/15/2026

89,971

ConocoPhillips

230,000

6.500%, 

2/1/2039

360,372

Continental

Resources,

Inc.

115,000

5.000%, 

9/15/2022

115,000

100,000

4.500%, 

4/15/2023

99,884

DCP

Midstream

Operating,

LP

140,000

5.625%, 

7/15/2027

145,250

Diamondback

Energy,

Inc.

300,000

3.500%, 

12/1/2029

300,335

El

Paso

Pipeline

Partners

Operating

Company,

LLC

135,000

4.300%, 

5/1/2024

149,640

Enagas

SA

365,000

5.500%, 

1/15/2028

i

324,806

Endeavor

Energy

Resources,

LP

70,000

6.625%, 

7/15/2025

i

73,544

60,000

5.500%, 

1/30/2026

i

60,300

170,000

5.750%, 

1/30/2028

i

174,463

Energy

Transfer

Operating,

LP

75,000

4.200%, 

9/15/2023

79,212

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

185

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Energy

(0.6%)

-

continued

$

330,000

6.000%, 

6/15/2048

$

347,792

Energy

Transfer

Partners,

LP

90,000

4.900%, 

3/15/2035

91,188

125,000

5.150%, 

2/1/2043

119,203

EnLink

Midstream

Partners,

LP

140,000

4.850%, 

7/15/2026

108,520

90,000

5.600%, 

4/1/2044

49,950

Enterprise

Products

Operating,

LLC

48,000

5.100%, 

2/15/2045

59,444

EOG

Resources,

Inc.

10,000

2.625%, 

3/15/2023

10,522

375,000

4.375%, 

4/15/2030

456,401

EQM

Midstream

Partners

LP

160,000

6.500%, 

7/1/2027

i

176,416

EQM

Midstream

Partners,

LP

70,000

5.500%, 

7/15/2028

72,576

EQT

Corporation

240,000

3.900%, 

10/1/2027

j

226,152

Equinor

ASA

540,000

3.000%, 

4/6/2027

602,024

Exxon

Mobil

Corporation

400,000

3.452%, 

4/15/2051

473,890

Kinder

Morgan

Energy

Partners,

LP

12,000

3.450%, 

2/15/2023

12,652

225,000

6.500%, 

9/1/2039

296,847

Kinder

Morgan,

Inc.

255,000

6.500%, 

9/15/2020

256,676

Magellan

Midstream

Partners,

LP

120,000

5.000%, 

3/1/2026

139,966

Marathon

Oil

Corporation

375,000

4.400%, 

7/15/2027

381,044

Marathon

Petroleum

Corporation

276,000

4.750%, 

12/15/2023

304,668

59,000

6.500%, 

3/1/2041

77,187

MPLX,

LP

9,000

4.500%, 

7/15/2023

9,724

500,000

4.875%, 

12/1/2024

562,691

276,000

4.875%, 

6/1/2025

312,706

Murphy

Oil

Corporation

90,000

5.875%, 

12/1/2027

82,800

Nabors

Industries,

Inc.

200,000

5.750%, 

2/1/2025

79,000

Nabors

Industries,

Ltd.

170,000

7.250%, 

1/15/2026

i

107,365

Newfield

Exploration

Company

180,000

5.625%, 

7/1/2024

179,829

210,000

5.375%, 

1/1/2026

204,210

Noble

Energy,

Inc.

600,000

5.050%, 

11/15/2044

801,090

Occidental

Petroleum

Corporation

140,000

2.700%, 

8/15/2022

135,153

270,000

2.900%, 

8/15/2024

254,057

90,000

3.400%, 

4/15/2026

81,450

80,000

8.500%, 

7/15/2027

89,088

160,000

3.500%, 

8/15/2029

142,203

90,000

6.450%, 

9/15/2036

90,019

230,000

4.400%, 

4/15/2046

187,381

ONEOK,

Inc.

360,000

2.200%, 

9/15/2025

353,822

Parsley

Energy,

LLC

240,000

5.625%, 

10/15/2027

i

251,400

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Energy

(0.6%)

-

continued

Pioneer

Natural

Resources

Company

$

85,000

4.450%, 

1/15/2026

$

99,126

Plains

All

American

Pipeline,

LP

500,000

4.500%, 

12/15/2026

537,881

500,000

3.550%, 

12/15/2029

493,826

QEP

Resources,

Inc.

90,000

5.625%, 

3/1/2026

52,425

Regency

Energy

Partners,

LP

168,000

5.875%, 

3/1/2022

176,255

Sabine

Pass

Liquefaction,

LLC

141,000

6.250%, 

3/15/2022

150,857

166,000

5.625%, 

4/15/2023

182,926

185,000

5.750%, 

5/15/2024

210,740

Schlumberger

Holdings

Corporation

155,000

4.000%, 

12/21/2025

i

171,988

Southwestern

Energy

Company

240,000

7.500%, 

4/1/2026

225,180

Suncor

Energy,

Inc.

95,000

3.600%, 

12/1/2024

104,126

Sunoco

Logistics

Partners

Operations,

LP

10,000

4.400%, 

4/1/2021

10,195

345,000

4.000%, 

10/1/2027

353,482

Sunoco,

LP

140,000

5.875%, 

3/15/2028

146,300

Targa

Resources

Partners,

LP

290,000

5.375%, 

2/1/2027

299,619

Transocean

Guardian,

Ltd.

292,500

5.875%, 

1/15/2024

i

258,131

W&T

Offshore,

Inc.

230,000

9.750%, 

11/1/2023

i

153,327

Western

Gas

Partners,

LP

184,000

4.000%, 

7/1/2022

189,884

Western

Midstream

Operating,

LP

70,000

5.250%, 

2/1/2050

69,125

140,000

3.100%, 

2/1/2025

139,664

140,000

3.950%, 

6/1/2025

139,300

Williams

Companies,

Inc.

250,000

7.500%, 

1/15/2031

327,917

Williams

Partners,

LP

115,000

4.500%, 

11/15/2023

126,078

185,000

6.300%, 

4/15/2040

240,276

WPX

Energy,

Inc.

95,000

5.750%, 

6/1/2026

96,900

170,000

4.500%, 

1/15/2030

158,253

Total

17,886,145

Financials

(1.4%)

ABN

AMRO

Bank

NV

200,000

4.750%, 

7/28/2025

i

225,015

ACE

INA

Holdings,

Inc.

10,000

2.875%, 

11/3/2022

10,520

125,000

4.350%, 

11/3/2045

176,498

AerCap

Ireland

Capital,

Ltd.

84,000

4.625%, 

10/30/2020

84,367

84,000

4.625%, 

7/1/2022

85,291

175,000

3.500%, 

1/15/2025

167,460

350,000

3.875%, 

1/23/2028

322,922

Air

Lease

Corporation

28,000

2.500%, 

3/1/2021

28,089

Aircastle,

Ltd.

400,000

5.000%, 

4/1/2023

400,954

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

186

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Financials

(1.4%)

-

continued

Ally

Financial,

Inc.

$

310,000

5.750%, 

11/20/2025

$

349,966

American

International

Group,

Inc.

126,000

4.125%, 

2/15/2024

140,777

275,000

3.750%, 

7/10/2025

309,993

255,000

3.900%, 

4/1/2026

293,067

Athene

Global

Funding

5,000

4.000%, 

1/25/2022

i

5,204

Australia

and

New

Zealand

Banking

Group,

Ltd.

250,000

2.950%, 

7/22/2030

b,i

259,338

AvalonBay

Communities,

Inc.

200,000

3.500%, 

11/15/2025

225,994

Aviation

Capital

Group,

LLC

290,000

2.875%, 

1/20/2022

i

285,246

Avolon

Holdings

Funding,

Ltd.

275,000

5.250%, 

5/15/2024

i

256,634

Banco

Santander

Mexico

SA

275,000

5.375%, 

4/17/2025

i

304,851

Banco

Santander

SA

400,000

1.386%, 

(LIBOR

3M

+

1.120%),

4/12/2023

b

399,674

Bank

of

America

Corporation

5,000

2.738%, 

1/23/2022

b

5,051

9,000

3.550%, 

3/5/2024

b

9,644

168,000

4.000%, 

4/1/2024

187,898

450,000

4.200%, 

8/26/2024

504,450

515,000

4.000%, 

1/22/2025

575,549

450,000

3.458%, 

3/15/2025

b

491,754

240,000

3.093%, 

10/1/2025

b

260,371

185,000

3.824%, 

1/20/2028

b

211,669

450,000

2.496%, 

2/13/2031

b

478,110

270,000

2.592%, 

4/29/2031

b

289,878

208,000

5.875%, 

2/7/2042

323,185

Bank

of

New

York

Mellon

Corporation

210,000

2.500%, 

4/15/2021

212,981

12,000

2.600%, 

2/7/2022

12,409

Barclays

Bank

plc

42,000

10.179%, 

6/12/2021

i

45,118

Barclays

plc

425,000

4.610%, 

2/15/2023

b

448,087

168,000

3.650%, 

3/16/2025

184,343

Boston

Properties,

LP

325,000

4.500%, 

12/1/2028

392,883

BPCE

SA

350,000

3.500%, 

10/23/2027

i

387,822

Camden

Property

Trust

525,000

3.150%, 

7/1/2029

596,549

Capital

One

Financial

Corporation

450,000

4.200%, 

10/29/2025

505,382

Cascades

USA,

Inc.

200,000

5.125%, 

1/15/2026

i

206,500

CIT

Group,

Inc.

295,000

5.000%, 

8/15/2022

304,588

90,000

5.250%, 

3/7/2025

96,300

Citigroup,

Inc.

435,000

4.400%, 

6/10/2025

493,704

168,000

3.200%, 

10/21/2026

186,973

526,000

3.668%, 

7/24/2028

b

598,073

126,000

4.125%, 

7/25/2028

145,923

250,000

3.520%, 

10/27/2028

b

281,737

120,000

3.878%, 

1/24/2039

b

146,447

198,000

4.650%, 

7/23/2048

278,128

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Financials

(1.4%)

-

continued

CNA

Financial

Corporation

$

200,000

3.900%, 

5/1/2029

$

228,287

Comerica,

Inc.

70,000

3.700%, 

7/31/2023

75,716

Commerzbank

AG

230,000

8.125%, 

9/19/2023

i

265,731

Cooperatieve

Centrale

Raiffeisen-

Boerenleenbank

BA

239,000

3.950%, 

11/9/2022

254,576

552,000

4.625%, 

12/1/2023

610,897

Credit

Acceptance

Corporation

140,000

5.125%, 

12/31/2024

i

142,520

Credit

Agricole

SA

306,000

3.375%, 

1/10/2022

i

317,386

375,000

3.250%, 

1/14/2030

i

411,483

Credit

Suisse

Group

AG

250,000

2.997%, 

12/14/2023

b,i

261,038

225,000

7.250%, 

9/12/2025

b,i,o

239,344

550,000

2.193%, 

6/5/2026

b,i

566,804

250,000

3.869%, 

1/12/2029

b,i

281,091

Credit

Suisse

Group

Funding

(Guernsey),

Ltd.

18,000

3.800%, 

9/15/2022

19,131

Danske

Bank

AS

400,000

3.244%, 

12/20/2025

b,i

428,844

Deutsche

Bank

AG

123,000

4.250%, 

10/14/2021

126,987

400,000

3.961%, 

11/26/2025

b

426,578

Deutsche

Bank

AG

of

New

York

100,000

3.950%, 

2/27/2023

105,228

Discover

Bank

325,000

2.450%, 

9/12/2024

344,762

290,000

4.682%, 

8/9/2028

b

300,901

Duke

Realty,

LP

300,000

2.875%, 

11/15/2029

336,391

ERP

Operating,

LP

32,000

3.375%, 

6/1/2025

35,501

ESH

Hospitality,

Inc.

140,000

5.250%, 

5/1/2025

i

143,007

70,000

4.625%, 

10/1/2027

i

67,361

Fidelity

National

Financial,

Inc.

325,000

5.500%, 

9/1/2022

350,366

First

Horizon

National

Corporation

550,000

4.000%, 

5/26/2025

597,514

GE

Capital

Funding,

LLC

1,175,000

4.400%, 

5/15/2030

i

1,238,158

GE

Capital

International

Funding

Company

480,000

4.418%, 

11/15/2035

496,123

Goldman

Sachs

Group,

Inc.

337,000

4.370%, 

(LIBOR

3M

+

3.922%),

9/3/2020

b,o

327,311

531,000

5.250%, 

7/27/2021

556,114

10,000

1.562%, 

(LIBOR

3M

+

1.170%),

11/15/2021

b

10,029

12,000

3.000%, 

4/26/2022

12,219

184,000

2.908%, 

6/5/2023

b

191,202

525,000

3.625%, 

2/20/2024

574,815

165,000

4.750%, 

10/21/2045

228,164

HCP,

Inc.

60,000

3.400%, 

2/1/2025

65,772

Healthpeak

Properties,

Inc.

275,000

2.875%, 

1/15/2031

291,763

Hospitality

Properties

Trust

10,000

4.250%, 

2/15/2021

9,825

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

187

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Financials

(1.4%)

-

continued

HSBC

Holdings

plc

$

212,000

6.875%, 

6/1/2021

b,o

$

216,128

525,000

3.803%, 

3/11/2025

b

568,578

200,000

3.900%, 

5/25/2026

224,695

450,000

4.950%, 

3/31/2030

550,748

Huntington

Bancshares,

Inc.

10,000

3.150%, 

3/14/2021

10,147

Icahn

Enterprises,

LP

140,000

6.750%, 

2/1/2024

144,200

185,000

6.375%, 

12/15/2025

192,400

ING

Groep

NV

350,000

4.100%, 

10/2/2023

385,703

International

Lease

Finance

Corporation

112,000

5.875%, 

8/15/2022

120,930

Iron

Mountain,

Inc.

75,000

4.875%, 

9/15/2027

i

77,906

J.P.

Morgan

Chase

&

Company

9,000

2.776%, 

4/25/2023

b

9,347

120,000

3.625%, 

5/13/2024

133,171

450,000

3.875%, 

9/10/2024

502,931

240,000

3.125%, 

1/23/2025

263,221

470,000

3.900%, 

7/15/2025

535,198

135,000

3.300%, 

4/1/2026

151,880

375,000

4.203%, 

7/23/2029

b

447,592

250,000

2.522%, 

4/22/2031

b

269,651

275,000

3.882%, 

7/24/2038

b

342,584

Kimco

Realty

Corporation

368,000

3.300%, 

2/1/2025

395,469

Liberty

Mutual

Group,

Inc.

3,000

5.000%, 

6/1/2021

i

3,109

84,000

4.950%, 

5/1/2022

i

89,841

Lloyds

Banking

Group

plc

250,000

2.907%, 

11/7/2023

b

261,547

700,000

3.870%, 

7/9/2025

b

771,740

MetLife,

Inc.

125,000

4.050%, 

3/1/2045

160,113

MGM

Growth

Properties

Operating

Partnership,

LP

100,000

4.625%, 

6/15/2025

i

105,124

Mitsubishi

UFJ

Financial

Group,

Inc.

6,000

2.998%, 

2/22/2022

6,230

640,000

3.455%, 

3/2/2023

684,777

230,000

3.287%, 

7/25/2027

256,834

550,000

2.048%, 

7/17/2030

565,853

Morgan

Stanley

84,000

4.085%, 

(LIBOR

3M

+

3.810%),

10/15/2020

b,o

81,587

11,000

5.500%, 

7/28/2021

11,548

210,000

2.625%, 

11/17/2021

216,031

97,000

1.452%, 

(LIBOR

3M

+

1.180%),

1/20/2022

b

97,394

65,000

4.875%, 

11/1/2022

70,859

215,000

3.125%, 

1/23/2023

228,588

180,000

2.188%, 

4/28/2026

b

189,640

210,000

4.350%, 

9/8/2026

246,073

276,000

3.591%, 

7/22/2028

b

315,294

250,000

3.772%, 

1/24/2029

b

289,976

540,000

3.622%, 

4/1/2031

b

631,465

MPT

Operating

Partnership,

LP

195,000

6.375%, 

3/1/2024

201,094

255,000

4.625%, 

8/1/2029

269,423

Nasdaq,

Inc.

225,000

3.250%, 

4/28/2050

258,234

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Financials

(1.4%)

-

continued

$

110,000

3.850%, 

6/30/2026

$

125,395

Nationwide

Building

Society

275,000

3.622%, 

4/26/2023

b,i

287,014

Outfront

Media

Cap,

LLC

220,000

4.625%, 

3/15/2030

i

205,700

Park

Aerospace

Holdings,

Ltd.

275,000

4.500%, 

3/15/2023

i

259,776

Prudential

Financial,

Inc.

400,000

3.700%, 

3/13/2051

478,368

Quicken

Loans,

Inc.

245,000

5.750%, 

5/1/2025

i

252,579

Realty

Income

Corporation

185,000

4.125%, 

10/15/2026

214,692

Regency

Centers,

LP

320,000

4.125%, 

3/15/2028

359,222

Reinsurance

Group

of

America,

Inc.

323,000

4.700%, 

9/15/2023

356,678

Royal

Bank

of

Scotland

Group

plc

175,000

6.125%, 

12/15/2022

191,723

250,000

6.100%, 

6/10/2023

276,584

200,000

3.875%, 

9/12/2023

217,212

425,000

6.000%, 

12/29/2025

b,o

446,250

400,000

4.445%, 

5/8/2030

b

476,072

Service

Properties

Trust

120,000

4.500%, 

6/15/2023

114,000

70,000

4.750%, 

10/1/2026

61,600

Simon

Property

Group,

LP

15,000

2.500%, 

7/15/2021

15,213

168,000

4.250%, 

11/30/2046

196,237

Societe

Generale

SA

138,000

4.750%, 

11/24/2025

i

152,006

Springleaf

Finance

Corporation

210,000

6.875%, 

3/15/2025

234,675

180,000

7.125%, 

3/15/2026

211,019

Sumitomo

Mitsui

Financial

Group,

Inc.

126,000

3.010%, 

10/19/2026

139,685

Synchrony

Financial

55,000

4.250%, 

8/15/2024

58,417

225,000

3.950%, 

12/1/2027

237,422

UBS

Group

Funding

Jersey,

Ltd.

126,000

4.125%, 

9/24/2025

i

144,686

UDR,

Inc.

275,000

2.100%, 

8/1/2032

280,771

Ventas

Realty,

LP

195,000

3.100%, 

1/15/2023

201,440

VICI

Properties,

LP

/

VICI

Note

Company,

Inc.

80,000

4.250%, 

12/1/2026

i

82,400

40,000

3.750%, 

2/15/2027

i

40,300

80,000

4.625%, 

12/1/2029

i

84,200

40,000

4.125%, 

8/15/2030

i

40,480

Voya

Financial,

Inc.

342,000

3.125%, 

7/15/2024

368,671

Wells

Fargo

&

Company

7,000

2.100%, 

7/26/2021

7,119

168,000

3.450%, 

2/13/2023

178,400

450,000

4.125%, 

8/15/2023

491,798

15,000

1.491%, 

(LIBOR

3M

+

1.230%),

10/31/2023

b

15,163

125,000

3.000%, 

2/19/2025

135,936

600,000

3.000%, 

4/22/2026

657,473

168,000

3.000%, 

10/23/2026

184,294

500,000

2.393%, 

6/2/2028

b

525,299

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

188

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Financials

(1.4%)

-

continued

$

323,000

4.900%, 

11/17/2045

$

426,698

Total

45,119,825

Mortgage-Backed

Securities

(5.6%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

9,734,972

3.000%, 

3/25/2050

10,308,769

5,199,435

3.000%, 

4/1/2050

5,505,899

61,659

3.500%, 

7/1/2047

65,232

Federal

National

Mortgage

Association

649,757

3.230%, 

11/1/2020

649,339

2,384,539

4.500%, 

5/1/2048

2,565,407

4,324,553

3.500%, 

10/1/2048

4,566,662

38,923

3.500%, 

6/1/2049

41,156

5,024,928

3.500%, 

8/1/2049

5,318,556

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

14,050,000

2.000%, 

8/1/2035

e

14,614,195

17,985,000

2.500%, 

8/1/2035

e

18,875,820

13,650,000

2.000%, 

9/1/2035

e

14,178,938

6,500,000

1.500%, 

10/15/2035

e

6,642,441

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

1,800,000

2.000%, 

8/1/2050

e

1,864,828

34,953,000

2.500%, 

8/1/2050

e,p

36,718,400

25,150,000

2.000%, 

9/1/2050

e,p

26,007,665

19,647,000

3.000%, 

9/1/2043

e

20,739,145

8,362,273

4.000%, 

7/1/2048

8,877,363

Total

177,539,815

Technology

(0.5%)

Apple,

Inc.

115,000

3.000%, 

2/9/2024

124,510

183,000

3.200%, 

5/11/2027

209,629

250,000

3.000%, 

6/20/2027

283,812

400,000

3.000%, 

11/13/2027

456,578

585,000

3.750%, 

9/12/2047

753,690

Applied

Materials,

Inc.

92,000

3.300%, 

4/1/2027

106,546

Avnet,

Inc.

125,000

3.750%, 

12/1/2021

128,883

Baidu,

Inc.

360,000

3.425%, 

4/7/2030

j

402,667

Broadcom

Corporation

146,000

3.875%, 

1/15/2027

162,175

220,000

3.500%, 

1/15/2028

238,777

Broadcom,

Inc.

525,000

4.750%, 

4/15/2029

i

611,972

180,000

5.000%, 

4/15/2030

i

213,906

CDW,

LLC

160,000

4.250%, 

4/1/2028

171,136

CommScope

Technologies

Finance,

LLC

360,000

6.000%, 

6/15/2025

i

367,812

Diamond

1

Finance

Corporation

26,000

5.450%, 

6/15/2023

i

28,650

490,000

6.020%, 

6/15/2026

i

574,450

Diamond

Sports

Group,

LLC

110,000

5.375%, 

8/15/2026

i

84,708

250,000

6.625%, 

8/15/2027

i

136,875

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Technology

(0.5%)

-

continued

Fiserv,

Inc.

$

350,000

2.250%, 

6/1/2027

$

374,519

360,000

2.650%, 

6/1/2030

393,851

Gartner,

Inc.

90,000

4.500%, 

7/1/2028

i

94,500

Harland

Clarke

Holdings

Corporation

190,000

8.375%, 

8/15/2022

i

155,325

Hewlett

Packard

Enterprise

Company

300,000

4.650%, 

10/1/2024

337,343

Intel

Corporation

300,000

3.100%, 

2/15/2060

350,688

Iron

Mountain,

Inc.

170,000

4.875%, 

9/15/2029

i

177,097

150,000

5.250%, 

7/15/2030

i

157,312

KLA

Corporation

540,000

3.300%, 

3/1/2050

604,678

Lam

Research

Corporation

450,000

2.875%, 

6/15/2050

513,292

Marvell

Technology

Group,

Ltd.

205,000

4.200%, 

6/22/2023

221,844

275,000

4.875%, 

6/22/2028

338,262

Micron

Technology,

Inc.

180,000

2.497%, 

4/24/2023

187,907

Microsoft

Corporation

307,000

2.675%, 

6/1/2060

337,413

270,000

4.200%, 

11/3/2035

363,912

975,000

3.700%, 

8/8/2046

1,266,671

NCR

Corporation

380,000

6.125%, 

9/1/2029

i

416,271

NVIDIA

Corporation

450,000

3.500%, 

4/1/2040

537,215

NXP

BV/NXP

Funding,

LLC

425,000

4.875%, 

3/1/2024

i

478,068

Open

Text

Corporation

250,000

4.125%, 

2/15/2030

i

262,500

Oracle

Corporation

10,000

2.500%, 

5/15/2022

10,345

168,000

2.400%, 

9/15/2023

177,568

390,000

2.950%, 

5/15/2025

430,577

600,000

2.800%, 

4/1/2027

666,229

250,000

3.850%, 

7/15/2036

307,819

450,000

3.600%, 

4/1/2040

532,523

Plantronics,

Inc.

250,000

5.500%, 

5/31/2023

i

236,300

PTC,

Inc.

70,000

3.625%, 

2/15/2025

i

72,574

60,000

4.000%, 

2/15/2028

i

63,021

Sensata

Technologies

BV

160,000

5.000%, 

10/1/2025

i

172,800

SS&C

Technologies,

Inc.

290,000

5.500%, 

9/30/2027

i

311,750

Texas

Instruments,

Inc.

330,000

4.150%, 

5/15/2048

459,059

Tyco

Electronics

Group

SA

46,000

3.450%, 

8/1/2024

50,268

92,000

3.125%, 

8/15/2027

101,541

Vmware,

Inc.

275,000

4.650%, 

5/15/2027

314,792

Total

16,532,610

Transportation

(0.1%)

Air

Canada

Pass

Through

Trust

36,442

3.875%, 

3/15/2023

i

31,000

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

189

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Transportation

(0.1%)

-

continued

Air

Lease

Corporation

$

70,000

3.500%, 

1/15/2022

$

70,825

Burlington

Northern

Santa

Fe,

LLC

140,000

5.750%, 

5/1/2040

210,789

430,000

5.050%, 

3/1/2041

605,863

150,000

4.450%, 

3/15/2043

204,527

CSX

Corporation

270,000

3.800%, 

4/15/2050

342,760

42,000

3.700%, 

11/1/2023

46,278

375,000

3.350%, 

9/15/2049

437,214

Delta

Air

Lines,

Inc.

200,000

7.000%, 

5/1/2025

i

213,750

Mileage

Plus

Holdings,

LLC

140,000

6.500%, 

6/20/2027

i

144,900

NCL

Corporation,

Ltd.

140,000

3.625%, 

12/15/2024

i

92,526

Penske

Truck

Leasing

Company,

LP

425,000

3.375%, 

2/1/2022

i

438,611

Southwest

Airlines

Company

360,000

4.750%, 

5/4/2023

377,785

150,000

5.125%, 

6/15/2027

157,383

United

Airlines

Pass

Through

Trust

10,000

3.700%, 

12/1/2022

9,330

United

Parcel

Service,

Inc.

360,000

4.450%, 

4/1/2030

459,089

XPO

Logistics,

Inc.

200,000

6.125%, 

9/1/2023

i

203,938

202,000

6.750%, 

8/15/2024

i

217,243

Total

4,263,811

U.S.

Government

&

Agencies

(5.8%)

U.S.

Treasury

Bonds

4,485,000

2.250%, 

11/15/2027

5,078,562

7,300,000

2.875%, 

5/15/2028

8,663,047

1,510,000

5.250%, 

11/15/2028

2,100,493

4,600,000

1.625%, 

8/15/2029

5,058,742

4,100,000

1.500%, 

2/15/2030

4,474,445

1,175,000

4.375%, 

5/15/2040

1,906,988

6,780,000

3.000%, 

5/15/2042

9,363,021

12,618,000

2.500%, 

5/15/2046

16,346,717

10,050,000

2.875%, 

5/15/2049

14,207,795

U.S.

Treasury

Notes

330,000

1.500%, 

8/15/2020

330,151

450,000

1.375%, 

8/31/2020

450,433

120,000

1.875%, 

12/15/2020

120,783

500,000

2.500%, 

2/28/2021

506,797

250,000

1.375%, 

5/31/2021

252,598

7,984,000

1.125%, 

8/31/2021

8,069,454

2,210,000

1.500%, 

9/30/2021

2,244,963

940,000

1.125%, 

2/28/2022

954,687

7,440,000

1.875%, 

7/31/2022

7,698,947

155,000

2.000%, 

11/30/2022

161,751

4,750,000

2.500%, 

3/31/2023

5,049,844

6,560,000

2.500%, 

1/31/2024

7,096,075

2,060,000

2.125%, 

7/31/2024

2,220,133

2,490,000

2.250%, 

11/15/2024

2,708,459

4,360,000

2.125%, 

11/30/2024

4,722,595

750,000

1.375%, 

1/31/2025

789,521

17,550,000

2.875%, 

5/31/2025

19,789,682

5,715,000

2.625%, 

1/31/2026

6,448,127

40,970,000

2.500%, 

2/28/2026

46,014,431

3,750,000

0.500%, 

4/30/2027

3,780,469

Total

186,609,710

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Utilities

(0.5%)

Alabama

Power

Company

$

6,000

2.450%, 

3/30/2022

$

6,193

Ameren

Illinois

Company

270,000

4.500%, 

3/15/2049

383,138

American

Water

Capital

Corporation

450,000

2.800%, 

5/1/2030

507,298

Appalachian

Power

Company

92,000

3.300%, 

6/1/2027

101,333

Arizona

Public

Service

Company

300,000

3.500%, 

12/1/2049

352,087

Berkshire

Hathaway

Energy

Company

155,000

4.500%, 

2/1/2045

212,397

Calpine

Corporation

220,000

4.500%, 

2/15/2028

i

227,150

CenterPoint

Energy,

Inc.

70,000

3.850%, 

2/1/2024

77,014

450,000

2.500%, 

9/1/2024

480,258

245,000

4.250%, 

11/1/2028

291,981

CMS

Energy

Corporation

126,000

2.950%, 

2/15/2027

134,647

Commonwealth

Edison

Company

125,000

3.700%, 

3/1/2045

155,545

70,000

4.350%, 

11/15/2045

95,464

Consolidated

Edison

Company

of

New

York,

Inc.

675,000

4.125%, 

5/15/2049

888,019

Consolidated

Edison,

Inc.

63,000

4.500%, 

12/1/2045

84,376

Consumers

Energy

Company

325,000

4.350%, 

4/15/2049

462,129

DTE

Electric

Company

95,000

3.700%, 

3/15/2045

119,282

135,000

3.700%, 

6/1/2046

169,183

Duke

Energy

Carolinas,

LLC

350,000

3.700%, 

12/1/2047

445,154

Duke

Energy

Corporation

168,000

3.750%, 

9/1/2046

206,994

Duke

Energy

Florida,

LLC

120,000

3.200%, 

1/15/2027

137,015

Duke

Energy

Indiana,

LLC

170,000

3.750%, 

5/15/2046

214,065

Edison

International

575,000

5.750%, 

6/15/2027

670,070

Energy

Transfer

Operating,

LP

330,000

5.200%, 

2/1/2022

343,531

Exelon

Corporation

340,000

4.700%, 

4/15/2050

469,759

90,000

5.100%, 

6/15/2045

123,369

376,000

4.450%, 

4/15/2046

488,278

FirstEnergy

Corporation

60,000

2.850%, 

7/15/2022

61,523

350,000

4.850%, 

7/15/2047

432,544

ITC

Holdings

Corporation

30,000

4.050%, 

7/1/2023

32,399

84,000

5.300%, 

7/1/2043

115,905

Mississippi

Power

Company

185,000

3.950%, 

3/30/2028

214,929

Monongahela

Power

Company

95,000

5.400%, 

12/15/2043

i

137,894

National

Rural

Utilities

Cooperative

Finance

Corporation

175,000

3.900%, 

11/1/2028

209,669

400,000

3.700%, 

3/15/2029

477,574

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

190

Principal

Amount

Long-Term

Fixed

Income

(18.8%)

Value

Utilities

(0.5%)

-

continued

NextEra

Energy

Operating

Partners,

LP

$

390,000

3.875%, 

10/15/2026

i

$

407,550

NiSource

Finance

Corporation

92,000

3.490%, 

5/15/2027

105,364

245,000

5.650%, 

2/1/2045

359,264

NiSource,

Inc.

375,000

3.600%, 

5/1/2030

441,683

Pacific

Gas

and

Electric

Company

235,000

3.300%, 

12/1/2027

f

248,305

235,000

3.950%, 

12/1/2047

f

249,576

PG&E

Corporation

90,000

5.000%, 

7/1/2028

92,606

70,000

5.250%, 

7/1/2030

72,800

PPL

Capital

Funding,

Inc.

92,000

3.400%, 

6/1/2023

97,905

195,000

5.000%, 

3/15/2044

253,661

PPL

Electric

Utilities

Corporation

138,000

3.950%, 

6/1/2047

180,838

PSEG

Power,

LLC

8,000

3.000%, 

6/15/2021

8,165

Public

Service

Electric

&

Gas

Company

230,000

3.000%, 

5/15/2027

257,425

San

Diego

Gas

and

Electric

Company

330,000

4.150%, 

5/15/2048

433,424

South

Carolina

Electric

&

Gas

Company

455,000

5.100%, 

6/1/2065

730,983

Southern

California

Edison

Company

185,000

4.000%, 

4/1/2047

219,997

Southern

Company

6,000

2.350%, 

7/1/2021

6,096

180,000

2.950%, 

7/1/2023

191,202

250,000

3.250%, 

7/1/2026

283,874

165,000

4.400%, 

7/1/2046

209,415

Southern

Company

Gas

Capital

Corporation

230,000

4.400%, 

5/30/2047

295,014

Southwestern

Electric

Power

Company

65,000

3.900%, 

4/1/2045

75,387

Suburban

Propane

Partners,

LP

170,000

5.875%, 

3/1/2027

172,975

Talen

Energy

Supply,

LLC

190,000

7.625%, 

6/1/2028

i

198,550

TerraForm

Power

Operating,

LLC

175,000

5.000%, 

1/31/2028

i

192,938

Virginia

Electric

and

Power

Company

275,000

4.600%, 

12/1/2048

397,930

Vistra

Operations

Company,

LLC

240,000

5.000%, 

7/31/2027

i

256,200

Total

15,967,293

Total

Long-Term

Fixed

Income

(cost

$556,420,082)

600,802,494

Shares

Collateral

Held

for

Securities

Loaned

(

0.5%

)

Value

14,325,699

Thrivent

Cash

Management

Trust

$

14,325,699

Total

Collateral

Held

for

Securities

Loaned

(cost

$14,325,699)

14,325,699

Shares

or

Principal

Amount

Short-Term

Investments

(

10.1%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

400,000

0.180%,

8/4/2020

q,r

399,999

500,000

0.114%,

8/7/2020

q,r

499,996

3,200,000

0.125%,

8/11/2020

q,r

3,199,950

200,000

0.150%,

8/19/2020

q

199,994

5,100,000

0.100%,

8/25/2020

q,r

5,099,782

600,000

0.120%,

9/1/2020

q,r

599,956

1,700,000

0.158%,

9/2/2020

q,r

1,699,872

9,100,000

0.099%,

9/15/2020

q,r

9,099,022

3,900,000

0.090%,

9/16/2020

q,r

3,899,571

3,700,000

0.090%,

9/17/2020

q,r

3,699,584

900,000

0.090%,

9/21/2020

q,r

899,890

2,400,000

0.090%,

9/22/2020

q,r

2,399,700

400,000

0.088%,

9/25/2020

q,r

399,947

500,000

0.090%,

10/7/2020

q,r

499,919

5,800,000

0.090%,

11/6/2020

q,r

5,798,623

Federal

Home

Loan

Mortgage

Corporation

Discount

Notes

500,000

0.135%,

9/17/2020

q,r

499,944

Thrivent

Core

Short-Term

Reserve

Fund

28,253,359

0.500%

282,816,125

U.S.

Treasury

Bills

700,000

0.132%,

9/17/2020

q

699,922

200,000

0.023%,

9/24/2020

q

199,973

Total

Short-Term

Investments

(cost

$322,229,519)

322,611,769

Total

Investments

(cost

$2,859,735,546)

104.4%

$3,331,705,355

Other

Assets

and

Liabilities,

Net

(4.4%)

(140,826,014)

Total

Net

Assets

100.0%

$3,190,879,341

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

f

In

bankruptcy.  Interest

is

being

accrued

per

the

bankruptcy

agreement

terms.  

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

191

g

Denotes

payment-in-kind

security.  The

security

may

pay

an

interest

or

dividend

payment

with

additional

fixed

income

or

equity

securities

in

lieu

of,

or

in

addition

to

a

cash

payment.  The

cash

rate

and/or

payment-in-kind

rate

shown

are

as

of

July

31,

2020.

h

Non-income

producing

security.

i

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$85,283,463

or

2.7%

of

total

net

assets.

j

All

or

a

portion

of

the

security

is

on

loan.

k

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

July

31,

2020.

l

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

m

Defaulted

security.  Interest

is

not

being

accrued.

n

In

bankruptcy.  Interest

is

not

being

accrued.

o

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

p

All

or

a

portion

of

the

security

was

earmarked

to

cover

written

options.

q

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

r

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Moderately

Aggressive

Allocation

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

569,109

Common

Stock

13,265,682

Total

lending

$13,834,791

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$14,325,699

Net

amounts

due

to

counterparty

$490,908

Definitions:

ACES

-

Alternative

Credit

Enhancement

Securities

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

FNMA

-

Federal

National

Mortgage

Association

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

PIK

-

Payment-In-Kind

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

LIBOR

1W

-

ICE

Libor

USD

Rate

1

Week

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

2M

-

ICE

Libor

USD

Rate

2

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

192

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Moderately

Aggressive

Allocation

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

1,692,189

–

1,465,416

226,773

Capital

Goods

2,287,068

–

2,287,068

–

Communications

Services

5,598,757

–

5,520,043

78,714

Consumer

Cyclical

3,327,535

–

3,327,535

–

Consumer

Non-Cyclical

4,024,459

–

4,024,459

–

Energy

1,554,517

–

1,554,517

–

Financials

1,766,636

–

1,766,636

–

Technology

2,619,638

–

2,619,638

–

Transportation

708,012

–

708,012

–

Utilities

680,272

–

680,272

–

Registered

Investment

Companies

Unaffiliated

22,800,869

22,800,869

–

–

Affiliated

1,233,190,907

1,233,190,907

–

–

Common

Stock

Communications

Services

26,726,777

25,192,842

1,533,935

–

Consumer

Discretionary

98,983,646

96,605,256

2,378,390

–

Consumer

Staples

26,265,971

24,419,858

1,846,113

–

Energy

15,921,932

14,831,024

1,090,908

–

Financials

105,005,446

97,965,612

7,039,834

–

Health

Care

132,699,197

128,133,110

4,566,087

–

Industrials

124,637,334

119,739,523

4,897,811

–

Information

Technology

190,800,091

187,753,578

3,046,513

–

Materials

33,757,161

30,259,129

3,498,030

2

Real

Estate

53,953,671

52,090,899

1,862,772

–

Utilities

11,231,003

10,981,131

249,872

–

Long-Term

Fixed

Income

Asset-Backed

Securities

19,467,039

–

19,467,039

–

Basic

Materials

6,964,481

–

6,964,481

–

Capital

Goods

9,511,788

–

9,511,788

–

Collateralized

Mortgage

Obligations

25,938,059

–

25,938,059

–

Commercial

Mortgage-Backed

Securities

3,928,880

–

3,928,880

–

Communications

Services

23,930,170

–

23,930,170

–

Consumer

Cyclical

18,424,116

–

18,424,116

–

Consumer

Non-Cyclical

28,718,752

–

28,718,752

–

Energy

17,886,145

–

17,886,145

–

Financials

45,119,825

–

45,119,825

–

Mortgage-Backed

Securities

177,539,815

–

177,539,815

–

Technology

16,532,610

–

16,532,610

–

Transportation

4,263,811

–

4,263,811

–

U.S.

Government

&

Agencies

186,609,710

–

186,609,710

–

Utilities

15,967,293

–

15,967,293

–

Short-Term

Investments

39,795,644

–

39,795,644

–

Subtotal

Investments

in

Securities

$2,740,831,226

$2,043,963,738

$696,561,999

$305,489

Other

Investments  *

Total

Affiliated

Short-Term

Investments

282,816,125

Affiliated

Registered

Investment

Companies

293,732,305

Collateral

Held

for

Securities

Loaned

14,325,699

Subtotal

Other

Investments

$590,874,129

Total

Investments

at

Value

$3,331,705,355

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

193

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

Counterparty:

JPM

-

J.P.

Morgan

MSC

-

Morgan

Stanley

&

Company

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

36,292,112

36,292,112

–

–

Total

Asset

Derivatives

$36,292,112

$36,292,112

$–

$–

Liability

Derivatives

Futures

Contracts

33,211,911

33,211,911

–

–

Call

Options

Written

148,828

–

–

148,828

Total

Liability

Derivatives

$33,360,739

$33,211,911

$–

$148,828

The

following

table

presents

Moderately

Aggressive

Allocation

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$38,295,799

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

2-Yr.

U.S.

Treasury

Note

230

September

2020

$

50,785,785

$

40,623

CBOT

U.S.

Long

Bond

5

September

2020

865,417

45,989

CME

E-mini

Russell

2000

Index

11

September

2020

799,796

12,994

CME

E-mini

S&P

500

Index

2,763

September

2020

422,232,824

28,619,701

CME

E-mini

S&P

Mid-Cap

400

Index

2

September

2020

352,966

19,134

CME

Euro

Foreign

Exchange

Currency

220

September

2020

32,044,367

404,258

Eurex

Euro

STOXX

50

Index

833

September

2020

32,360,470

(

1,274,939)

ICE

US

mini

MSCI

Emerging

Markets

Index

1,430

September

2020

69,305,537

7,149,413

Total

Futures

Long

Contracts

$

608,747,162

$

35,017,173

CBOT

10-Yr.

U.S.

Treasury

Note

(33)

September

2020

(

$

4,571,425)

(

$

51,153)

CBOT

5-Yr.

U.S.

Treasury

Note

(108)

September

2020

(

13,538,530)

(

82,970)

CME

E-mini

Russell

2000

Index

(3,190)

September

2020

(

219,509,065)

(

16,200,035)

CME

E-mini

S&P

Mid-Cap

400

Index

(1,209)

September

2020

(

209,636,897)

(

15,297,553)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

(17)

September

2020

(

3,722,545)

(

148,143)

ICE

mini

MSCI

EAFE

Index

(23)

September

2020

(

2,070,089)

(

15,551)

Ultra

10-Yr.

U.S.

Treasury

Note

(50)

September

2020

(

7,820,933)

(

141,567)

Total

Futures

Short

Contracts

(

$

460,869,484)

($31,936,972)

Total

Futures

Contracts

$

147,877,678

$3,080,201

The

following

table

presents

Moderately

Aggressive

Allocation

Fund's

options

contracts

held

as

of

July

31,

2020.

Option

_

Description                              

(Underlying

Security

Description)

Counter-

party

Number

of

Contracts

Exercise

Price

Expiration

Date

Notional

Principal

Amount

Value

Unrealized

Appreciation/

(Depreciation)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

JPM

(15)

$

104.20

August

2020

(15,757,617)

(

$

131,250)

(

$

93,164)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

MSC

(11)

102.64

September

2020

(11,788,763)

(

126,914)

(

55,664)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

Total

Options

Written

Contracts

($258,164)

($148,828)

(*)  Security

is

valued

using

significant

unobservable

inputs.

Market

quotations

or

prices

were

not

readily

available

or

were

determined

to

be

unreliable.

Value

was

determined

in

good

faith

pursuant

to

procedures

adopted

by

the

Board.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

Moderately

Aggressive

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

194

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Moderately

Aggressive

Allocation

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$34,725

$7,712

$–

$43,756

4,371

1.4%

Core

Emerging

Markets

Equity*

—

12,600

–

13,386

1,324

0.4

Core

International

Equity

86,307

3,365

–

79,470

9,262

2.5

Core

Low

Volatility

Equity

109,491

51,653

–

157,120

13,327

4.9

Global

Stock,

Class

S

135,852

16,652

–

139,944

5,807

4.4

High

Yield,

Class

S

22,543

894

–

22,592

4,965

0.7

Income,

Class

S

68,329

1,898

–

74,913

7,352

2.3

International

Allocation,

Class

S

245,381

6,335

–

227,974

24,593

7.2

Large

Cap

Growth,

Class

S

224,569

10,971

–

294,959

18,378

9.2

Large

Cap

Value,

Class

S

233,679

4,512

–

216,946

10,486

6.8

Limited

Maturity

Bond,

Class

S

37,125

647

–

38,257

3,017

1.2

Mid

Cap

Stock,

Class

S

171,989

4,925

–

175,502

6,524

5.5

Small

Cap

Stock,

Class

S

44,444

3,816

–

42,103

1,979

1.3

Total

Affiliated

Registered

Investment

Companies

1,414,434

1,526,922

47.8

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

338,384

395,570

451,421

282,816

28,253

8.9

Total

Affiliated

Short-Term

Investments

338,384

282,816

8.9

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

14,572

311,654

311,900

14,326

14,326

0.5

Total

Collateral

Held

for

Securities

Loaned

14,572

14,326

0.5

Total

Value

$1,767,390

$1,824,064

*  

Non-income

producing

security.

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$–

$1,319

$–

$1,320

Core

Emerging

Markets

Equity*

–

786

–

–

Core

International

Equity

–

(10,202)

–

3,366

Core

Low

Volatility

Equity

Fund

–

(4,024)

3,440

2,213

Global

Stock,

Class

S

–

(12,560)

14,333

2,318

High

Yield,

Class

S

–

(845)

–

894

Income,

Class

S

–

4,686

314

1,583

International

Allocation,

Class

S

–

(23,742)

–

6,335

Large

Cap

Growth,

Class

S

–

59,419

10,971

–

Large

Cap

Value,

Class

S

–

(21,245)

–

4,513

Limited

Maturity

Bond,

Class

S

–

485

–

647

Mid

Cap

Stock,

Class

S

–

(1,412)

4,246

679

Small

Cap

Stock,

Class

S

–

(6,157)

3,606

210

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

(99)

382

2

3,426

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$27,504

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

132

Total

Affiliated

Income

from

Securities

Loaned,

Net

$132

Total

$(99)

$(13,110)

$36,912

*  

Non-income

producing

security.

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

195

Principal

Amount

Bank

Loans

(

2.0%

)

a

Value

Basic

Materials

(0.1%)

Ball

Metalpack

Finco

,

LLC,

Term

Loan

$

93,100

4.863%, 

(LIBOR

3M

+

4.500%),

7/31/2025

b

$

87,048

Big

River

Steel,

LLC,

Term

Loan

150,737

6.000%, 

(LIBOR

3M

+

5.000%),

8/23/2023

b

143,201

Chemours

Company,

Term

Loan

128,587

1.920%, 

(LIBOR

1M

+

1.750%),

4/3/2025

b

121,676

Hexion

,

Inc.,

Term

Loan

109,723

3.800%, 

(LIBOR

3M

+

3.500%),

7/1/2026

b

107,254

Innophos

Holdings,

Inc.,

Term

Loan

109,725

3.911%, 

(LIBOR

1M

+

3.750%),

2/7/2027

b,c

108,216

MRC

Global

(US),

Inc.,

Term

Loan

60,629

3.161%, 

(LIBOR

1M

+

3.000%),

9/22/2024

b,c

56,688

Nouryon

USA,

LLC,

Term

Loan

219,018

3.178%, 

(LIBOR

1M

+

3.000%),

10/1/2025

b,d,e

211,475

Peabody

Energy

Corporation,

Term

Loan

156,400

2.911%, 

(LIBOR

1M

+

2.750%),

3/31/2025

b

80,546

Pixelle

Specialty

Solutions,

LLC,

Term

Loan

210,163

7.500%, 

(LIBOR

1M

+

6.500%),

10/31/2024

b

202,019

PQ

Corporation,

Term

Loan

125,000

0.000%, 

(LIBOR

1M

+

3.000%),

2/7/2027

b,d,e

124,141

Total

1,242,264

Capital

Goods

(0.2%)

Advanced

Disposal

Services,

Inc.,

Term

Loan

127,771

3.000%, 

(LIBOR

1W

+

2.250%),

11/10/2023

b

126,893

Flex

Acquisition

Company,

Inc.

Term

Loan

240,011

3.546%, 

(LIBOR

3M

+

3.250%),

6/29/2025

b

227,898

GFL

Environmental,

Inc.,

Term

Loan

340,840

4.000%, 

(LIBOR

3M

+

3.000%),

5/31/2025

b

338,806

Graham

Packaging

Company,

Inc.,

Term

Loan

110,000

0.000%, 

(LIBOR

1M

+

3.750%),

7/28/2027

b,d,e

109,665

Navistar,

Inc.,

Term

Loan

268,125

3.690%, 

(LIBOR

1M

+

3.500%),

11/6/2024

b

258,963

Reynolds

Group

Holdings,

Inc.,

Term

Loan

403,614

2.911%, 

(LIBOR

1M

+

2.750%),

2/5/2023

b

394,969

TransDigm

,

Inc.,

Term

Loan

384,075

2.411%, 

(LIBOR

1M

+

2.250%),

12/9/2025

b,d,e

359,041

Principal

Amount

Bank

Loans

(2.0%)

a

Value

Capital

Goods

(0.2%)

-

continued

Vertiv

Group

Corporation,

Term

Loan

$

369,075

3.162%, 

(LIBOR

1M

+

3.000%),

3/2/2027

b

$

360,309

Total

2,176,544

Communications

Services

(0.4%)

Altice

France

SA,

Term

Loan

116,100

2.911%, 

(LIBOR

1M

+

2.750%),

7/31/2025

b

110,963

CenturyLink,

Inc.,

Term

Loan

258,700

2.411%, 

(LIBOR

1M

+

2.250%),

3/15/2027

b

248,748

Charter

Communications

Operating,

LLC,

Term

Loan

492,474

1.920%, 

(LIBOR

1M

+

1.750%),

4/30/2025

b

481,394

CommScope

,

Inc.,

Term

Loan

100,000

3.411%, 

(LIBOR

1M

+

3.250%),

4/4/2026

b,d,e

97,750

Coral-US

Co-Borrower,

LLC,

Term

Loan

455,000

2.411%, 

(LIBOR

1M

+

2.250%),

1/31/2028

b

436,800

Diamond

Sports

Group,

LLC,

Term

Loan

343,285

3.420%, 

(LIBOR

1M

+

3.250%),

8/24/2026

b

273,341

Entercom

Media

Corporation,

Term

Loan

167,317

2.673%, 

(LIBOR

1M

+

2.500%),

11/17/2024

b

157,905

Gray

Television,

Inc.,

Term

Loan

100,000

2.421%, 

(LIBOR

1M

+

2.250%),

2/7/2024

b

97,083

HCP

Acquisition,

LLC,

Term

Loan

199,228

4.000%, 

(LIBOR

1M

+

3.000%),

5/16/2024

b

194,646

iHeartCommunications

,

Inc.,

Term

Loan

129,674

3.161%, 

(LIBOR

1M

+

3.000%),

5/1/2026

b

121,101

Mediacom

Illinois,

LLC,

Term

Loan

79,308

1.870%, 

(LIBOR

1W

+

1.750%),

2/15/2024

b,c

78,714

NEP

Group,

Inc.,

Term

Loan

172,375

3.411%, 

(LIBOR

1M

+

3.250%),

10/20/2025

b

141,940

25,000

7.161%, 

(LIBOR

1M

+

7.000%),

10/19/2026

b

18,425

Nexstar

Broadcasting,

Inc.,

Term

Loan

275,000

2.921%, 

(LIBOR

1M

+

2.750%),

9/19/2026

b,d,e

267,267

Nielsen

Finance,

LLC,

Term

Loan

89,775

4.750%, 

(LIBOR

1M

+

3.750%),

6/4/2025

b

89,775

SBA

Senior

Finance

II,

LLC,

Term

Loan

198,544

1.920%, 

(LIBOR

1M

+

1.750%),

4/11/2025

b

192,385

Terrier

Media

Buyer,

Inc.,

Term

Loan

144,275

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

140,436

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

196

Principal

Amount

Bank

Loans

(2.0%)

a

Value

Communications

Services

(0.4%)

-

continued

$

60,000

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

$

58,013

T-Mobile

USA,

Inc.,

Term

Loan

275,000

3.161%, 

(LIBOR

1M

+

3.000%),

4/1/2027

b

275,883

TNS,

Inc.,

Term

Loan

205,982

4.170%, 

(LIBOR

1M

+

4.000%),

8/14/2022

b

199,802

WideOpenWest

Finance,

LLC,

Term

Loan

276,963

4.250%, 

(LIBOR

1M

+

3.250%),

8/19/2023

b

272,255

Windstream

Services,

LLC,

Term

Loan

178,680

0.000%, 

(PRIME

+

5.000%),

3/30/2021

b,f

106,802

Xplornet

Communications,

Inc.,

Term

Loan

145,000

4.911%, 

(LIBOR

1M

+

4.750%),

6/11/2027

b

141,057

Ziggo

Financing

Partnership,

Term

Loan

240,000

2.675%, 

(LIBOR

1M

+

2.500%),

4/30/2028

b

230,186

Total

4,432,671

Consumer

Cyclical

(0.3%)

Cengage

Learning,

Inc.,

Term

Loan

215,752

5.250%, 

(LIBOR

3M

+

4.250%),

6/7/2023

b

174,580

Four

Seasons

Hotels,

Ltd.,

Term

Loan

194,950

2.161%, 

(LIBOR

1M

+

2.000%),

11/30/2023

b

187,674

Golden

Entertainment,

Inc.,

Term

Loan

376,350

3.750%, 

(LIBOR

1M

+

3.000%),

10/20/2024

b

342,008

Golden

Nugget,

LLC,

Term

Loan

164,079

3.250%, 

(LIBOR

1M

+

2.500%),

10/4/2023

b

136,880

LCPR

Loan

Financing,

LLC,

Term

Loan

405,000

5.175%, 

(LIBOR

1M

+

5.000%),

10/15/2026

b

406,013

Men's

Warehouse,

Inc.,

Term

Loan

171,410

4.250%, 

(LIBOR

1M

+

3.250%),

4/9/2025

b

33,639

Mohegan

Gaming

and

Entertainment,

Term

Loan

130,438

5.375%, 

(LIBOR

3M

+

4.375%),

10/13/2023

b

108,450

Penn

National

Gaming,

Inc.,

Term

Loan

132,975

3.000%, 

(LIBOR

3M

+

2.250%),

10/15/2025

b

126,451

Scientific

Games

International,

Inc.,

Term

Loan

655,996

3.473%, 

(LIBOR

1M

+

2.750%),

8/14/2024

b

596,018

Staples,

Inc.,

Term

Loan

35,573

5.187%, 

(LIBOR

3M

+

4.500%),

9/12/2024

b,d,e

31,652

Principal

Amount

Bank

Loans

(2.0%)

a

Value

Consumer

Cyclical

(0.3%)

-

continued

$

277,846

5.687%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b,d,e

$

238,409

Stars

Group

Holdings

BV,

Term

Loan

102,010

3.808%, 

(LIBOR

3M

+

3.500%),

7/10/2025

b

101,940

Tenneco,

Inc.,

Term

Loan

105,981

3.161%, 

(LIBOR

1M

+

3.000%),

10/1/2025

b

91,574

Wyndham

Hotels

&

Resorts,

Inc.,

Term

Loan

137,550

1.911%, 

(LIBOR

1M

+

1.750%),

5/30/2025

b

130,816

Total

2,706,104

Consumer

Non-Cyclical

(0.4%)

Aramark

Services,

Inc.,

Term

Loan

550,000

1.911%, 

(LIBOR

1M

+

1.750%),

3/11/2025

b

521,813

Bausch

Health

Americas,

Inc.,

Term

Loan

348,638

3.176%, 

(LIBOR

1M

+

3.000%),

6/1/2025

b

342,593

Bellring

Brands,

LLC,

Term

Loan

69,114

6.000%, 

(LIBOR

1M

+

5.000%),

10/21/2024

b,d,e

69,287

Change

Healthcare

Holdings,

LLC,

Term

Loan

135,000

3.500%, 

(LIBOR

1M

+

2.500%),

3/1/2024

b

131,887

Chobani

,

LLC,

Term

Loan

192,508

4.500%, 

(LIBOR

1M

+

3.500%),

10/10/2023

b

190,475

Dole

Food

Company,

Inc.,

Term

Loan

164,094

3.750%, 

(LIBOR

1M

+

2.750%),

4/6/2024

b,d,e

159,698

Endo

International

plc,

Term

Loan

134,466

5.000%, 

(LIBOR

3M

+

4.250%),

4/27/2024

b

128,369

Energizer

Holdings,

Inc.,

Term

Loan

90,915

2.438%, 

(LIBOR

1M

+

2.250%),

12/17/2025

b

90,006

Global

Medical

Response,

Inc.,

Term

Loan

540,788

4.250%, 

(LIBOR

3M

+

3.250%),

4/28/2022

b

533,580

29,250

5.250%, 

(LIBOR

3M

+

4.250%),

3/14/2025

b

28,462

IQVIA,

Inc.,

Term

Loan

59,846

1.911%, 

(LIBOR

1M

+

1.750%),

1/1/2025

b

58,619

JBS

USA

LUX

SA,

Term

Loan

292,777

3.072%, 

(LIBOR

3M

+

2.000%),

5/1/2026

b

282,195

MPH

Acquisition

Holdings,

LLC,

Term

Loan

520,000

3.750%, 

(LIBOR

3M

+

2.750%),

6/7/2023

b

511,441

Ortho-Clinical

Diagnostics

SA,

Term

Loan

561,975

3.416%, 

(LIBOR

1M

+

3.250%),

6/30/2025

b

545,818

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

197

Principal

Amount

Bank

Loans

(2.0%)

a

Value

Consumer

Non-Cyclical

(0.4%)

-

continued

Plantronics,

Inc.,

Term

Loan

$

130,682

2.780%, 

(LIBOR

3M

+

2.500%),

7/2/2025

b

$

119,882

R.R.

Donnelley

&

Sons

Company,

Term

Loan

39,598

5.161%, 

(LIBOR

1M

+

5.000%),

1/15/2024

b

36,826

Sotera

Health

Holdings,

LLC,

Term

Loan

159,600

5.500%, 

(LIBOR

1M

+

4.500%),

12/13/2026

b

159,002

US

Foods,

Inc.,

Term

Loan

89,766

1.911%, 

(LIBOR

1M

+

1.750%),

6/27/2023

b

84,941

Total

3,994,894

Energy

(0.1%)

BCP

Raptor

II,

LLC,

Term

Loan

178,200

4.911%, 

(LIBOR

1M

+

4.750%),

11/3/2025

b

111,910

Buckeye

Partners,

LP,

Term

Loan

349,125

2.921%, 

(LIBOR

1M

+

2.750%),

11/1/2026

b

340,725

Calpine

Corporation,

Term

Loan

204,092

2.420%, 

(LIBOR

1M

+

2.250%),

1/15/2024

b

199,543

Fieldwood

Energy,

LLC,

Term

Loan

195,000

6.250%, 

(LIBOR

3M

+

5.250%),

4/11/2022

b

44,524

Illuminate

Buyer,

LLC,

Term

Loan

125,000

4.308%, 

(LIBOR

3M

+

4.000%),

6/30/2027

b

123,500

Radiate

Holdco,

LLC,

Term

Loan

555,649

3.750%, 

(LIBOR

1M

+

3.000%),

2/1/2024

b

544,380

Total

1,364,582

Financials

(0.2%)

Avolon

TLB

Borrower

1

US,

LLC,

Term

Loan

121,007

2.500%, 

(LIBOR

1M

+

1.750%),

1/15/2025

b

115,169

Blackstone

CQP

Holdco,

LP,

Term

Loan

386,100

3.806%, 

(LIBOR

3M

+

3.500%),

9/30/2024

b

374,919

Delos

Finance

SARL,

Term

Loan

110,000

2.058%, 

(LIBOR

3M

+

1.750%),

10/6/2023

b

106,067

GGP

Nimbus,

LLC,

Term

Loan

204,754

2.661%, 

(LIBOR

1M

+

2.500%),

8/24/2025

b

166,363

INEOS

U.S.

Finance,

LLC,

Term

Loan

89,770

2.214%, 

(LIBOR

2M

+

2.000%),

3/31/2024

b

86,291

Lealand

Finance

Company

BV,

Term

Loan

51,710

4.167%, 

(LIBOR

1M

+

4.000%),

6/30/2025

b

41,023

Level

3

Financing,

Inc.,

Term

Loan

250,000

1.911%, 

(LIBOR

1M

+

1.750%),

3/1/2027

b

241,927

Principal

Amount

Bank

Loans

(2.0%)

a

Value

Financials

(0.2%)

-

continued

MoneyGram

International,

Inc.,

Term

Loan

$

144,816

7.000%, 

(LIBOR

3M

+

6.000%),

6/30/2023

b

$

136,851

NCR

Corporation,

Term

Loan

109,175

2.670%, 

(LIBOR

1M

+

2.500%),

8/28/2026

b

105,490

Northriver

Midstream

Finance,

LP,

Term

Loan

203,447

3.552%, 

(LIBOR

3M

+

3.250%),

10/1/2025

b

194,166

Vericast

Corporation,

Term

Loan

287,472

5.750%, 

(LIBOR

3M

+

4.750%),

11/3/2023

b

199,733

Total

1,767,999

Technology

(0.2%)

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

328,148

3.761%, 

(LIBOR

2M

+

3.500%),

8/21/2026

b

291,232

Prime

Security

Services

Borrower,

LLC,

Term

Loan

530,725

4.250%, 

(LIBOR

1M

+

3.250%),

9/23/2026

b,d,e

520,965

Rackspace

Hosting,

Inc.,

Term

Loan

475,250

4.000%, 

(LIBOR

2M

+

3.000%),

11/3/2023

b

464,619

SS&C

Technologies,

Inc.,

Term

Loan

201,394

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

194,848

145,685

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

140,950

Zayo

Group

Holdings,

Inc.,

Term

Loan

349,125

3.161%, 

(LIBOR

1M

+

3.000%),

3/9/2027

b

338,651

Total

1,951,265

Transportation

(<0.1%)

Delta

Air

Lines,

Inc.,

Term

Loan

50,000

0.000%, 

(LIBOR

1M

+

4.750%),

4/29/2023

b,d,e

49,148

Genesee

&

Wyoming,

Inc.,

Term

Loan

219,450

2.308%, 

(LIBOR

3M

+

2.000%),

12/30/2026

b

215,199

Mileage

Plus

Holdings,

LLC,

Term

Loan

125,000

6.250%, 

(LIBOR

3M

+

5.250%),

6/20/2027

b

124,625

United

Airlines,

Inc.,

Term

Loan

164,152

1.911%, 

(LIBOR

1M

+

1.750%),

4/1/2024

b

146,975

Total

535,947

Utilities

(0.1%)

Advanced

Drainage

Systems,

Inc.,

Term

Loan

54,851

2.438%, 

(LIBOR

1M

+

2.250%),

9/24/2026

b

54,097

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

198

Principal

Amount

Bank

Loans

(2.0%)

a

Value

Utilities

(0.1%)

-

continued

Core

and

Main,

LP,

Term

Loan

$

175,050

3.750%, 

(LIBOR

3M

+

2.750%),

8/1/2024

b

$

170,127

EnergySolutions

,

LLC,

Term

Loan

137,200

4.750%, 

(LIBOR

3M

+

3.750%),

5/11/2025

b

126,338

Pacific

Gas

&

Electric

Company,

Term

Loan

275,000

5.500%, 

(LIBOR

3M

+

4.500%),

1/1/2022

b

271,648

Total

622,210

Total

Bank

Loans

(cost

$21,882,052)

20,794,480

Principal

Amount

Long-Term

Fixed

Income

(

42.9%

)

Value

Asset-Backed

Securities

(1.7%)

Access

Group,

Inc.

108,976

0.672%, 

(LIBOR

1M

+

0.500%),

2/25/2036,

Ser.

2013-1,

Class

A

b,g

106,541

Aimco

400,000

1.578%, 

(LIBOR

3M

+

1.320%),

7/22/2032,

Ser.

2019-10A,

Class

A

b,g

393,151

Ares

CLO,

Ltd.

550,000

1.673%, 

(LIBOR

3M

+

1.400%),

10/17/2030,

Ser.

2018-28RA,

Class

A2

b,g

534,897

Benefit

Street

Partners

CLO

IV,

Ltd.

700,000

1.522%, 

(LIBOR

3M

+

1.250%),

1/20/2029,

Ser.

2014-IVA,

Class

A1RR

b,g

695,551

450,000

2.022%, 

(LIBOR

3M

+

1.750%),

1/20/2029,

Ser.

2014-IVA,

Class

A2RR

b,g

445,274

Buttermilk

Park

CLO,

Ltd.

925,000

1.675%, 

(LIBOR

3M

+

1.400%),

10/15/2031,

Ser.

2018-1A,

Class

A2

b,g

898,948

Carlyle

Global

Market

Strategies

CLO,

Ltd.

600,000

1.725%, 

(LIBOR

3M

+

1.450%),

7/15/2031,

Ser.

2014-5A,

Class

A2RR

b,g

575,300

Carvana

Auto

Receivables

Trust

600,000

2.340%, 

6/15/2023,

Ser.

2019-3A,

Class

A3

g

606,642

CBAM,

Ltd.

600,000

1.555%, 

(LIBOR

3M

+

1.280%),

2/12/2030,

Ser.

2019-9A,

Class

A

b,g

594,179

Colony

American

Finance

Trust

636,197

2.835%, 

6/15/2052,

Ser.

2019-2,

Class

A

g

669,356

Commonbond

Student

Loan

Trust

121,410

0.672%, 

(LIBOR

1M

+

0.500%),

2/25/2044,

Ser.

2018-AGS,

Class

A2

b,g

119,624

CoreVest

American

Finance

Trust

896,258

2.705%, 

10/15/2052,

Ser.

2019-3,

Class

A

g

921,493

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Asset-Backed

Securities

(1.7%)

-

continued

Dryden

Senior

Loan

Fund

$

500,000

1.672%, 

(LIBOR

3M

+

1.400%),

7/18/2030,

Ser.

2018-65A,

Class

A2

b,g

$

488,367

Earnest

Student

Loan

Program,

LLC

122,680

3.020%, 

5/25/2034,

Ser.

2016-B,

Class

A2

g

123,721

Galaxy

XX

CLO,

Ltd.

550,000

1.272%, 

(LIBOR

3M

+

1.000%),

4/20/2031,

Ser.

2015-20A,

Class

AR

b,g

535,288

Golub

Capital

Partners,

Ltd.

500,000

1.422%, 

(LIBOR

3M

+

1.150%),

10/20/2028,

Ser.

2018-39A,

Class

A1

b,g

494,112

468,000

1.472%, 

(LIBOR

3M

+

1.200%),

1/20/2031,

Ser.

2015-23A,

Class

AR

b,g

454,562

Harley

Marine

Financing,

LLC

1,208,314

5.682%, 

5/15/2043,

Ser.

2018-1A,

Class

A2

g

1,086,212

Home

Partners

of

America

Trust

715,748

2.908%, 

9/17/2039,

Ser.

2019-1,

Class

A

g

745,165

717,795

2.703%, 

10/19/2039,

Ser.

2019-2,

Class

A

g

739,329

Laurel

Road

Prime

Student

Loan

Trust

589,766

0.372%, 

11/25/2043,

Ser.

2018-D,

Class

A

b,g

614,134

Madison

Park

Funding

XIV,

Ltd.

400,000

1.658%, 

(LIBOR

3M

+

1.400%),

10/22/2030,

Ser.

2014-14A,

Class

A2RR

b,g

388,108

Magnetite

XII,

Ltd.

525,000

1.375%, 

(LIBOR

3M

+

1.100%),

10/15/2031,

Ser.

2015-12A,

Class

ARR

b,g

514,390

Mountain

View

CLO,

Ltd.

375,000

1.395%, 

(LIBOR

3M

+

1.120%),

7/15/2031,

Ser.

2015-9A,

Class

A1R

b,g

363,848

National

Collegiate

Trust

216,846

0.467%, 

(LIBOR

1M

+

0.295%),

5/25/2031,

Ser.

2007-A,

Class

A

b,g

209,345

Neuberger

Berman

CLO

XIV,

Ltd.

525,000

1.277%, 

(LIBOR

3M

+

1.030%),

1/28/2030,

Ser.

2013-14A,

Class

AR2

b,g

516,459

Neuberger

Berman

CLO,

Ltd.

250,000

1.288%, 

(LIBOR

3M

+

1.030%),

4/22/2029,

Ser.

2014-17A,

Class

AR2

b,g

246,223

Octagon

Investment

Partners

XVI,

Ltd.

100,000

1.673%, 

(LIBOR

3M

+

1.400%),

7/17/2030,

Ser.

2013-1A,

Class

A2R

b,g

97,470

OneMain

Financial

Issuance

Trust

535,000

3.840%, 

5/14/2032,

Ser.

2020-1A,

Class

A

g

556,426

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

199

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Asset-Backed

Securities

(1.7%)

-

continued

OZLM

VIII,

Ltd.

$

764,214

1.443%, 

(LIBOR

3M

+

1.170%),

10/17/2029,

Ser.

2014-8A,

Class

A1RR

b,g

$

752,100

Palmer

Square

Loan

Funding,

Ltd.

300,000

1.922%, 

(LIBOR

3M

+

1.650%),

4/20/2027,

Ser.

2019-1A,

Class

A2

b,g

296,105

PPM

CLO

3,

Ltd.

250,000

1.673%, 

(LIBOR

3M

+

1.400%),

7/17/2030,

Ser.

2019-3A,

Class

A

b,g

246,721

Pretium

Mortgage

Credit

Partners,

LLC

447,297

3.721%, 

2/27/2060,

Ser.

2020-NPL2,

Class

A1

g,h

448,038

RCO

Mortgage,

LLC

282,582

4.458%, 

10/25/2023,

Ser.

2018-2,

Class

A1

g,h

283,617

Shackleton

CLO,

Ltd.

350,000

1.445%, 

(LIBOR

3M

+

1.170%),

7/15/2031,

Ser.

2015-7RA,

Class

A1

b,g

341,199

SLM

Student

Loan

Trust

149,834

0.572%, 

(LIBOR

1M

+

0.400%),

3/25/2025,

Ser.

2010-1,

Class

A

b

141,578

Toyota

Auto

Loan

Extended

Note

Trust

400,000

1.350%, 

5/25/2033,

Ser.

2020-1A,

Class

A

g

410,554

Voya

CLO,

Ltd.

299,532

1.475%, 

(LIBOR

3M

+

1.200%),

10/15/2030,

Ser.

2012-4A,

Class

A1AR

b,g

293,945

Total

17,947,972

Basic

Materials

(0.4%)

Air

Products

and

Chemicals,

Inc.

275,000

2.700%, 

5/15/2040

310,495

Alcoa

Nederland

Holding

BV

110,000

5.500%, 

12/15/2027

g

118,558

Anglo

American

Capital

plc

100,000

4.875%, 

5/14/2025

g

113,636

BWAY

Holding

Company

100,000

5.500%, 

4/15/2024

g

101,958

Cleveland-Cliffs,

Inc.

80,000

5.750%, 

3/1/2025

69,000

70,000

9.875%, 

10/17/2025

g

76,475

DowDuPont

,

Inc.

200,000

4.493%, 

11/15/2025

233,686

EI

du

Pont

de

Nemours

&

Company

190,000

2.300%, 

7/15/2030

202,988

First

Quantum

Minerals,

Ltd.

130,000

7.500%, 

4/1/2025

g

131,300

Freeport-McMoRan,

Inc.

100,000

4.125%, 

3/1/2028

105,125

110,000

4.250%, 

3/1/2030

114,928

Glencore

Funding,

LLC

80,000

4.125%, 

5/30/2023

g

85,928

110,000

4.000%, 

3/27/2027

g

121,088

International

Paper

Company

222,000

4.350%, 

8/15/2048

276,960

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Basic

Materials

(0.4%)

-

continued

Kinross

Gold

Corporation

$

80,000

5.950%, 

3/15/2024

$

90,915

245,000

4.500%, 

7/15/2027

279,761

Koppers

,

Inc.

120,000

6.000%, 

2/15/2025

g

123,600

Krayton

Polymers,

LLC

130,000

7.000%, 

4/15/2025

g

134,550

Methanex

Corporation

160,000

5.250%, 

12/15/2029

154,800

Norbord,

Inc.

140,000

5.750%, 

7/15/2027

g

149,100

Novelis

Corporation

165,000

5.875%, 

9/30/2026

g

176,040

40,000

4.750%, 

1/30/2030

g

41,731

Olin

Corporation

165,000

5.125%, 

9/15/2027

160,050

Peabody

Securities

Finance

Corporation

140,000

6.375%, 

3/31/2025

g

70,000

Sherwin-Williams

Company

100,000

3.125%, 

6/1/2024

108,546

Syngenta

Finance

NV

250,000

3.933%, 

4/23/2021

g

252,510

Teck

Resources,

Ltd.

301,000

6.125%, 

10/1/2035

352,142

Tronox

Finance

plc

140,000

5.750%, 

10/1/2025

g

138,600

Vale

Overseas,

Ltd.

120,000

6.250%, 

8/10/2026

144,240

70,000

6.875%, 

11/21/2036

95,550

WestRock

Company

70,000

3.750%, 

3/15/2025

78,379

Total

4,612,639

Capital

Goods

(0.6%)

AECOM

230,000

5.125%, 

3/15/2027

252,712

Amsted

Industries,

Inc.

145,000

5.625%, 

7/1/2027

g

152,975

Ardagh

Packaging

Finance

plc

130,000

5.250%, 

8/15/2027

g

136,080

Berry

Global,

Inc.

100,000

4.875%, 

7/15/2026

g

105,625

Carrier

Global

Corporation

275,000

2.700%, 

2/15/2031

g

289,973

Cintas

Corporation

No.

2

125,000

3.700%, 

4/1/2027

143,887

Clean

Harbors,

Inc.

110,000

4.875%, 

7/15/2027

g

116,612

CNH

Industrial

Capital,

LLC

180,000

4.875%, 

4/1/2021

184,655

CNH

Industrial

NV

110,000

3.850%, 

11/15/2027

118,730

Covanta

Holding

Corporation

120,000

6.000%, 

1/1/2027

124,200

Crown

Cork

&

Seal

Company,

Inc.

240,000

7.375%, 

12/15/2026

283,200

Emerson

Electric

Company

275,000

1.800%, 

10/15/2027

293,073

H&E

Equipment

Services,

Inc.

145,000

5.625%, 

9/1/2025

150,981

Ingersoll-Rand

Luxembourg

Finance

SA

200,000

3.500%, 

3/21/2026

221,937

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

200

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Capital

Goods

(0.6%)

-

continued

Jeld-Wen

,

Inc.

$

80,000

6.250%, 

5/15/2025

g

$

85,600

30,000

4.625%, 

12/15/2025

g

30,300

L3Harris

Technologies,

Inc.

309,000

3.950%, 

5/28/2024

339,718

Lockheed

Martin

Corporation

160,000

3.600%, 

3/1/2035

199,884

184,000

4.500%, 

5/15/2036

249,410

40,000

6.150%, 

9/1/2036

61,962

Northrop

Grumman

Corporation

300,000

3.850%, 

4/15/2045

373,415

Owens-Brockway

Glass

Container,

Inc.

32,000

5.000%, 

1/15/2022

g

32,080

Republic

Services,

Inc.

125,000

2.900%, 

7/1/2026

138,973

Reynolds

Group

Issuer,

Inc.

245,000

5.125%, 

7/15/2023

g

248,748

Roper

Technologies,

Inc.

75,000

3.650%, 

9/15/2023

81,976

104,000

4.200%, 

9/15/2028

125,713

Spirit

AeroSystems

,

Inc.

30,000

7.500%, 

4/15/2025

g

29,484

Standard

Industries,

Inc.

210,000

4.375%, 

7/15/2030

g

226,800

Textron,

Inc.

275,000

3.375%, 

3/1/2028

290,618

TransDigm

,

Inc.

75,000

6.250%, 

3/15/2026

g

79,125

200,000

5.500%, 

11/15/2027

189,740

United

Rentals

North

America,

Inc.

40,000

4.875%, 

1/15/2028

42,950

280,000

4.000%, 

7/15/2030

289,800

United

Technologies

Corporation

200,000

4.450%, 

11/16/2038

258,321

175,000

3.750%, 

11/1/2046

215,329

WESCO

Distribution,

Inc.

40,000

7.250%, 

6/15/2028

g

43,700

Total

6,208,286

Collateralized

Mortgage

Obligations

(2.0%)

Ajax

Mortgage

Loan

Trust

485,348

4.360%, 

9/25/2065,

Ser.

2018-C,

Class

A

b,g

492,723

Alternative

Loan

Trust

170,711

6.000%, 

8/1/2036,

Ser.

2006-24CB,

Class

A9

135,361

Angel

Oak

Mortgage

Trust

420,566

2.531%, 

1/26/2065,

Ser.

2020-2,

Class

A1A

b,g

428,150

Angel

Oak

Mortgage

Trust

I,

LLC

253,298

3.500%, 

7/25/2046,

Ser.

2016-1,

Class

A1

g

263,417

592,562

3.674%, 

7/27/2048,

Ser.

2018-2,

Class

A1

b,g

604,273

Bellemeade

Re,

Ltd.

93,341

1.772%, 

(LIBOR

1M

+

1.600%),

4/25/2028,

Ser.

2018-1A,

Class

M1B

b,g

92,421

112,143

1.272%, 

(LIBOR

1M

+

1.100%),

7/25/2029,

Ser.

2019-3A,

Class

M1A

b,g

111,749

550,000

2.822%, 

(LIBOR

1M

+

2.650%),

6/25/2030,

Ser.

2020-1A,

Class

M1A

b,g

551,658

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Collateralized

Mortgage

Obligations

(2.0%)

-

continued

BRAVO

Residential

Funding

Trust

$

270,362

3.500%, 

3/25/2058,

Ser.

2019-1,

Class

A1C

g

$

278,071

CHL

Mortgage

Pass-Through

Trust

1,133,536

6.000%, 

11/25/2037,

Ser.

2007-18,

Class

1A2

910,028

CIM

Trust

716,465

5.000%, 

12/25/2057,

Ser.

2018-R3,

Class

A1

b,g

754,568

Citicorp

Mortgage

Securities,

Inc.

418,095

6.000%, 

7/25/2037,

Ser.

2007-6,

Class

1A4

407,496

Citigroup

Mortgage

Loan

Trust,

Inc.

100,046

5.500%, 

11/25/2035,

Ser.

2005-9,

Class

21A2

101,998

COLT

Funding,

LLC

139,279

3.470%, 

7/27/2048,

Ser.

2018-2,

Class

A1

b,g

140,617

Countrywide

Alternative

Loan

Trust

185,125

3.354%, 

10/25/2035,

Ser.

2005-43,

Class

4A1

b

172,451

153,657

6.500%, 

8/25/2036,

Ser.

2006-23CB,

Class

2A3

83,692

460,581

7.000%, 

10/25/2037,

Ser.

2007-24,

Class

A10

262,812

Countrywide

Home

Loans,

Inc.

113,303

5.750%, 

4/25/2037,

Ser.

2007-3,

Class

A27

85,261

Credit

Suisse

Mortgage

Capital

Certificates

404,609

3.393%, 

2/25/2024,

Ser.

2020-BPL1,

Class

A1

g,h

404,822

Credit

Suisse

Mortgage

Trust

1,191,475

3.552%, 

2/25/2060,

Ser.

2020-RPL2,

Class

A12

g

1,187,746

602,070

3.850%, 

9/25/2057,

Ser.

2018-RPL9,

Class

A1

b,g

638,800

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

51,964

6.000%, 

10/25/2021,

Ser.

2006-AR5,

Class

23A

45,915

Ellington

Financial

Mortgage

Trust

645,038

4.140%, 

10/25/2058,

Ser.

2018-1,

Class

A1FX

b,g

660,062

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

491,861

3.000%, 

2/15/2033,

Ser.

4170,

Class

IG

i

46,587

551,194

3.000%, 

3/15/2033,

Ser.

4180,

Class

PI

i

54,555

Federal

National

Mortgage

Association

-

REMIC

1,058,955

3.000%, 

12/25/2027,

Ser.

2012-137,

Class

AI

i

64,740

FWD

Securitization

Trust

474,617

2.810%, 

6/25/2049,

Ser.

2019-INV1,

Class

A1

b,g

485,892

Galton

Funding

Mortgage

Trust

2017-1

277,920

4.500%, 

10/25/2058,

Ser.

2018-2,

Class

A41

b,g

284,436

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

201

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Collateralized

Mortgage

Obligations

(2.0%)

-

continued

GCAT

Trust

$

210,034

2.985%, 

2/25/2059,

Ser.

2019-NQM1,

Class

A1

g,h

$

212,581

Greenpoint

Mortgage

Funding

Trust

489,292

0.372%, 

(LIBOR

1M

+

0.200%),

10/25/2045,

Ser.

2005-AR4,

Class

G41B

b

424,876

GS

Mortgage-Backed

Securities

Trust

316,880

2.625%, 

1/25/2059,

Ser.

2019-SL1,

Class

A1

b,g

319,430

GSR

Mortgage

Loan

Trust

849,167

4.138%, 

9/25/2034,

Ser.

2004-11,

Class

2A2

b

861,180

Legacy

Mortgage

Asset

Trust

344,708

3.250%, 

2/25/2060,

Ser.

2020-GS4,

Class

A1

g,h

347,029

MASTR

Alternative

Loans

Trust

276,033

0.622%, 

(LIBOR

1M

+

0.450%),

12/25/2035,

Ser.

2005-6,

Class

2A1

b

48,505

Merrill

Lynch

Alternative

Note

Asset

Trust

97,652

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

65,875

MFRA

Trust

324,174

4.164%, 

7/25/2048,

Ser.

2018-NPL2,

Class

A1

g,h

323,853

New

Residential

Mortgage

Loan

Trust

394,845

4.335%, 

7/25/2050,

Ser.

2020-NPL1,

Class

A1

g,h

394,800

Preston

Ridge

Partners

Mortgage

Trust,

LLC

479,337

4.500%, 

1/25/2024,

Ser.

2019-1A,

Class

A1

g,h

482,416

418,464

3.500%, 

10/25/2024,

Ser.

2019-GS1,

Class

A1

b,g

416,394

RCO

Mortgage,

LLC

505,787

3.721%, 

5/24/2024,

Ser.

2019-1,

Class

A1

g,h

508,238

721,719

3.475%, 

11/25/2024,

Ser.

2019-2,

Class

A1

g,h

718,670

261,045

3.197%, 

11/25/2052,

Ser.

2017-INV1,

Class

A

b,g

263,492

371,812

4.270%, 

12/26/2053,

Ser.

2018-VFS1,

Class

A1

b,g

388,857

Residential

Accredit

Loans,

Inc.

Trust

162,338

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

162,577

63,341

5.750%, 

9/25/2035,

Ser.

2005-QS13,

Class

2A3

62,914

Residential

Asset

Securitization

Trust

240,351

5.375%, 

7/25/2035,

Ser.

2005-A8CB,

Class

A9

208,137

Sequoia

Mortgage

Trust

414,313

3.530%, 

9/20/2046,

Ser.

2007-1,

Class

4A1

b

316,000

Silver

Hill

Trust

272,357

3.102%, 

11/25/2049,

Ser.

2019-SBC1,

Class

A1

b,g

277,383

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Collateralized

Mortgage

Obligations

(2.0%)

-

continued

Starwood

Mortgage

Residential

Trust

$

213,275

2.718%, 

4/25/2060,

Ser.

2020-2,

Class

A1

b,g

$

213,428

Toorak

Mortgage

Corporation

950,000

4.458%, 

3/25/2022,

Ser.

2019-1,

Class

A1

g,h

955,470

Vericrest

Opportunity

Loan

Transferee

433,666

3.352%, 

8/25/2049,

Ser.

2019-NPL4,

Class

A1A

g,h

434,118

Verus

Securitization

Trust

76,199

2.853%, 

1/25/2047,

Ser.

2017-1A,

Class

A1

b,g

76,117

78,258

3.836%, 

2/25/2059,

Ser.

2019-1,

Class

A1

b,g

79,763

63,409

3.211%, 

5/25/2059,

Ser.

2019-2,

Class

A1

b,g

64,674

135,574

3.345%, 

5/25/2059,

Ser.

2019-2,

Class

A2

b,g

135,017

479,545

2.913%, 

7/25/2059,

Ser.

2019-INV2,

Class

A1

b,g

488,016

284,417

2.947%, 

11/25/2059,

Ser.

2019-INV3,

Class

A2

b,g

283,796

289,893

1.977%, 

4/25/2060,

Ser.

2020-INV1,

Class

A1

b,g

288,976

1,080,925

3.626%, 

4/25/2060,

Ser.

2020-3,

Class

A1

b,g

1,080,095

338,301

2.226%, 

5/25/2060,

Ser.

2020-2,

Class

A1

b,g

341,874

WaMu

Mortgage

Pass

Through

Certificates

69,349

3.709%, 

9/25/2036,

Ser.

2006-AR10,

Class

1A2

b

64,168

65,268

3.711%, 

10/25/2036,

Ser.

2006-AR12,

Class

1A1

b

62,014

Total

21,121,034

Commercial

Mortgage-Backed

Securities

(0.3%)

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

378,817

3.000%, 

3/15/2045,

Ser.

4741,

Class

GA

392,672

Federal

National

Mortgage

Association

-

ACES

4,499,699

1.770%, 

12/25/2028,

Ser.

2020-M11,

Class

IO

b,i

543,779

GS

Mortgage

Securities

Trust

800,000

3.666%, 

9/10/2047,

Ser.

2014-GC24,

Class

A4

870,251

Morgan

Stanley

Capital

I

Trust

2,250,000

1.973%, 

7/15/2053,

Ser.

2020-HR8,

Class

XA

b,i

335,065

UBS

Commercial

Mortgage

Trust

500,000

2.921%, 

10/15/2052,

Ser.

2019-C17,

Class

A4

549,697

Total

2,691,464

Communications

Services

(1.6%)

Altice

France

SA

60,000

5.500%, 

1/15/2028

g

63,300

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

202

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Communications

Services

(1.6%)

-

continued

AMC

Networks,

Inc.

$

95,000

5.000%, 

4/1/2024

$

96,544

American

Tower

Corporation

135,000

2.900%, 

1/15/2030

149,472

300,000

2.100%, 

6/15/2030

311,964

AT&T,

Inc.

275,000

2.300%, 

6/1/2027

291,243

275,000

4.350%, 

3/1/2029

328,594

163,000

4.300%, 

2/15/2030

195,767

175,000

5.250%, 

3/1/2037

225,971

200,000

4.900%, 

8/15/2037

250,983

120,000

6.350%, 

3/15/2040

170,742

160,000

5.550%, 

8/15/2041

212,427

375,000

3.100%, 

2/1/2043

e

384,127

British

Telecommunications

plc

250,000

4.500%, 

12/4/2023

279,375

CCO

Holdings,

LLC

125,000

5.500%, 

5/1/2026

g

132,225

120,000

5.125%, 

5/1/2027

g

127,312

300,000

4.750%, 

3/1/2030

g

319,312

110,000

4.500%, 

8/15/2030

g

116,589

100,000

4.250%, 

2/1/2031

g

104,299

Charter

Communications

Operating,

LLC

77,000

6.834%, 

10/23/2055

110,612

150,000

4.500%, 

2/1/2024

166,712

225,000

4.200%, 

3/15/2028

258,682

330,000

6.484%, 

10/23/2045

463,512

Clear

Channel

Worldwide

Holdings,

Inc.

140,000

5.125%, 

8/15/2027

g

137,200

Comcast

Corporation

225,000

4.950%, 

10/15/2058

346,641

185,000

4.049%, 

11/1/2052

242,897

150,000

2.750%, 

3/1/2023

158,973

140,000

3.950%, 

10/15/2025

162,152

225,000

4.250%, 

10/15/2030

282,161

145,000

4.400%, 

8/15/2035

188,352

212,000

4.750%, 

3/1/2044

298,789

125,000

4.600%, 

8/15/2045

173,042

Cox

Communications,

Inc.

225,000

3.350%, 

9/15/2026

g

252,827

80,000

4.600%, 

8/15/2047

g

107,196

Crown

Castle

International

Corporation

138,000

5.250%, 

1/15/2023

153,418

67,000

3.200%, 

9/1/2024

73,026

CSC

Holdings,

LLC

90,000

5.500%, 

5/15/2026

g

94,387

80,000

4.125%, 

12/1/2030

g

84,300

Discovery

Communications,

LLC

220,000

4.900%, 

3/11/2026

257,870

Embarq

Corporation

120,000

7.995%, 

6/1/2036

140,640

Entercom

Media

Corporation

70,000

6.500%, 

5/1/2027

g

62,475

Fox

Corporation

165,000

3.500%, 

4/8/2030

187,756

Front

Range

BidCo

,

Inc.

180,000

4.000%, 

3/1/2027

g

180,398

Gray

Television,

Inc.

140,000

5.875%, 

7/15/2026

g

144,847

iHeartCommunications

,

Inc.

70,000

4.750%, 

1/15/2028

g

69,496

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Communications

Services

(1.6%)

-

continued

Lamar

Media

Corporation

$

90,000

3.750%, 

2/15/2028

g

$

90,788

Level

3

Financing,

Inc.

190,000

4.625%, 

9/15/2027

g

199,738

150,000

4.250%, 

7/1/2028

g

156,375

Neptune

Finco

Corporation

281,000

10.875%, 

10/15/2025

g

301,260

Netflix,

Inc.

320,000

4.875%, 

4/15/2028

371,974

Nexstar

Escrow

Corporation

104,000

5.625%, 

8/1/2024

g

106,860

160,000

5.625%, 

7/15/2027

g

171,248

Omnicom

Group,

Inc.

95,000

3.600%, 

4/15/2026

106,896

90,000

4.200%, 

6/1/2030

107,008

SBA

Communications

Corporation

90,000

3.875%, 

2/15/2027

g

93,150

SFR

Group

SA

240,000

7.375%, 

5/1/2026

g

255,996

Sirius

XM

Radio,

Inc.

240,000

5.000%, 

8/1/2027

g

255,797

90,000

4.125%, 

7/1/2030

g

94,977

Sprint

Capital

Corporation

90,000

6.875%, 

11/15/2028

116,703

Sprint

Corporation

250,000

7.250%, 

9/15/2021

264,375

315,000

7.625%, 

2/15/2025

382,590

Telefonica

Emisiones

SAU

150,000

4.570%, 

4/27/2023

165,183

Telesat

Canada

/

Telesat

,

LLC

210,000

4.875%, 

6/1/2027

g

213,150

Time

Warner

Entertainment

Company,

LP

270,000

8.375%, 

3/15/2023

319,869

T-Mobile

USA,

Inc.

300,000

4.500%, 

2/1/2026

309,000

300,000

3.750%, 

4/15/2027

g

340,863

250,000

4.375%, 

4/15/2040

g

306,060

Univision

Communications,

Inc.

90,000

6.625%, 

6/1/2027

g

90,252

VeriSign,

Inc.

140,000

4.750%, 

7/15/2027

152,009

Verizon

Communications,

Inc.

216,000

3.376%, 

2/15/2025

242,493

100,000

1.492%, 

(LIBOR

3M

+

1.100%),

5/15/2025

b

102,342

605,000

4.272%, 

1/15/2036

777,336

Viacom,

Inc.

120,000

5.850%, 

9/1/2043

152,413

Virgin

Media

Secured

Finance

plc

210,000

5.500%, 

8/15/2026

g

223,081

Vodafone

Group

plc

200,000

4.875%, 

6/19/2049

263,671

Walt

Disney

Company

300,000

2.200%, 

1/13/2028

317,369

225,000

2.650%, 

1/13/2031

244,574

175,000

3.500%, 

5/13/2040

201,029

Windstream

Services,

LLC

110,000

8.625%, 

10/31/2025

f,g

66,000

Ziggo

BV

130,000

5.500%, 

1/15/2027

g

137,320

Total

16,258,356

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

203

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Consumer

Cyclical

(1.1%)

1011778

B.C.,

ULC

$

250,000

4.375%, 

1/15/2028

g

$

260,033

Allied

Universal

Holdco,

LLC

90,000

6.625%, 

7/15/2026

g

96,300

Allison

Transmission,

Inc.

210,000

5.000%, 

10/1/2024

g

214,042

Amazon.com,

Inc.

300,000

1.500%, 

6/3/2030

310,759

200,000

3.875%, 

8/22/2037

259,658

120,000

4.050%, 

8/22/2047

165,181

American

Honda

Finance

Corporation

200,000

2.150%, 

9/10/2024

211,216

Brookfield

Property

REIT,

Inc.

50,000

5.750%, 

5/15/2026

g

41,344

Brookfield

Residential

Properties,

Inc.

250,000

6.250%, 

9/15/2027

g

250,000

Carnival

Corporation

60,000

10.500%, 

2/1/2026

g

62,113

Cedar

Fair,

LP

110,000

5.250%, 

7/15/2029

103,917

Colt

Merger

Sub,

Inc.

120,000

6.250%, 

7/1/2025

g

125,640

D.R.

Horton,

Inc.

200,000

2.550%, 

12/1/2020

201,367

275,000

2.600%, 

10/15/2025

293,806

Dana,

Inc.

120,000

5.625%, 

6/15/2028

126,000

Ford

Motor

Company

50,000

9.000%, 

4/22/2025

58,906

30,000

9.625%, 

4/22/2030

39,804

Ford

Motor

Credit

Company,

LLC

60,000

3.200%, 

1/15/2021

60,000

125,000

1.576%, 

(LIBOR

3M

+

1.270%),

3/28/2022

b

120,008

300,000

4.063%, 

11/1/2024

306,660

290,000

4.134%, 

8/4/2025

297,221

General

Motors

Company

300,000

6.125%, 

10/1/2025

349,747

300,000

6.800%, 

10/1/2027

365,297

General

Motors

Financial

Company,

Inc.

210,000

3.150%, 

6/30/2022

215,820

80,000

3.950%, 

4/13/2024

85,315

Hanesbrands,

Inc.

180,000

4.875%, 

5/15/2026

g

196,200

Herc

Holdings,

Inc.

70,000

5.500%, 

7/15/2027

g

74,025

Hilton

Domestic

Operating

Company,

Inc.

240,000

4.875%, 

1/15/2030

252,000

Home

Depot,

Inc.

205,000

5.400%, 

9/15/2040

305,005

120,000

4.250%, 

4/1/2046

161,730

395,000

3.900%, 

6/15/2047

512,556

Hyundai

Capital

America

250,000

3.000%, 

6/20/2022

g

256,197

International

Game

Technology

plc

110,000

5.250%, 

1/15/2029

g

112,397

KB

Home

100,000

4.800%, 

11/15/2029

104,000

Landry's,

Inc.

130,000

6.750%, 

10/15/2024

g

91,000

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Consumer

Cyclical

(1.1%)

-

continued

Lennar

Corporation

$

170,000

4.125%, 

1/15/2022

$

174,037

365,000

4.875%, 

12/15/2023

393,364

Mastercard

,

Inc.

220,000

3.300%, 

3/26/2027

253,643

140,000

3.950%, 

2/26/2048

185,286

Mattamy

Group

Corporation

230,000

5.250%, 

12/15/2027

g

238,625

McDonald's

Corporation

275,000

2.125%, 

3/1/2030

288,635

250,000

4.450%, 

3/1/2047

325,712

MGM

Resorts

International

170,000

6.000%, 

3/15/2023

177,650

Norwegian

Cruise

Line

Holdings,

Ltd.

60,000

10.250%, 

2/1/2026

g

59,775

Prime

Security

Services

Borrower,

LLC

250,000

5.750%, 

4/15/2026

g

277,500

Royal

Caribbean

Cruises,

Ltd.

60,000

9.125%, 

6/15/2023

g

61,350

Scientific

Games

International,

Inc.

120,000

5.000%, 

10/15/2025

g

118,950

ServiceMaster

Company,

LLC

200,000

5.125%, 

11/15/2024

g

206,000

Six

Flags

Entertainment

Corporation

70,000

5.500%, 

4/15/2027

g

66,150

Six

Flags

Theme

Parks,

Inc.

60,000

7.000%, 

7/1/2025

g

64,399

Staples,

Inc.

140,000

7.500%, 

4/15/2026

g

122,822

Target

Corporation

275,000

2.250%, 

4/15/2025

295,864

TJX

Companies,

Inc.

75,000

3.750%, 

4/15/2027

87,026

175,000

3.875%, 

4/15/2030

210,986

ViacomCBS

,

Inc.

300,000

4.200%, 

5/19/2032

344,462

Visa,

Inc.

135,000

2.700%, 

4/15/2040

153,499

Volkswagen

Group

of

America

Finance,

LLC

275,000

4.250%, 

11/13/2023

g

303,693

Walmart,

Inc.

175,000

3.250%, 

7/8/2029

207,019

Wyndham

Destinations,

Inc.

80,000

6.625%, 

7/31/2026

g

82,572

Yum!

Brands,

Inc.

180,000

4.750%, 

1/15/2030

g

195,300

Total

11,579,583

Consumer

Non-Cyclical

(1.8%)

Abbott

Laboratories

37,000

3.750%, 

11/30/2026

43,552

340,000

4.750%, 

11/30/2036

478,045

AbbVie,

Inc.

200,000

2.800%, 

3/15/2023

g

208,403

230,000

3.600%, 

5/14/2025

257,516

150,000

2.950%, 

11/21/2026

g

165,544

94,000

4.700%, 

5/14/2045

123,318

350,000

4.875%, 

11/14/2048

481,926

Albertson's

Companies,

Inc.

200,000

7.500%, 

3/15/2026

g

225,000

80,000

4.625%, 

1/15/2027

g

84,600

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

204

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Consumer

Non-Cyclical

(1.8%)

-

continued

Altria

Group,

Inc.

$

125,000

4.400%, 

2/14/2026

$

145,381

225,000

5.800%, 

2/14/2039

296,300

Amgen,

Inc.

275,000

3.375%, 

2/21/2050

322,090

75,000

3.125%, 

5/1/2025

83,121

Anheuser-Busch

Companies,

LLC

265,000

3.650%, 

2/1/2026

301,595

320,000

4.700%, 

2/1/2036

393,207

Anheuser-Busch

InBev

Worldwide,

Inc.

500,000

4.750%, 

4/15/2058

647,531

250,000

4.375%, 

4/15/2038

300,626

Anthem,

Inc.

250,000

3.125%, 

5/15/2050

277,390

220,000

4.625%, 

5/15/2042

288,603

Aramark

Services,

Inc.

120,000

6.375%, 

5/1/2025

g

126,760

BAT

Capital

Corporation

160,000

4.540%, 

8/15/2047

183,108

Bausch

Health

Companies,

Inc.

115,000

7.000%, 

1/15/2028

g

125,062

30,000

5.000%, 

1/30/2028

g

30,149

Baxalta

,

Inc.

105,000

4.000%, 

6/23/2025

119,932

Becton,

Dickinson

and

Company

187,000

3.734%, 

12/15/2024

208,068

160,000

3.700%, 

6/6/2027

183,085

Boston

Scientific

Corporation

120,000

7.375%, 

1/15/2040

195,996

Bunge,

Ltd.

Finance

Corporation

36,000

3.500%, 

11/24/2020

36,252

Campbell

Soup

Company

90,000

2.375%, 

4/24/2030

95,316

Cargill,

Inc.

200,000

3.250%, 

5/23/2029

g

228,420

Centene

Corporation

275,000

4.750%, 

1/15/2025

284,988

90,000

4.250%, 

12/15/2027

95,625

90,000

4.625%, 

12/15/2029

100,373

Cigna

Corporation

150,000

3.050%, 

10/15/2027

161,456

295,000

4.800%, 

8/15/2038

391,069

Clorox

Company

270,000

3.100%, 

10/1/2027

307,758

Conagra

Brands,

Inc.

175,000

4.300%, 

5/1/2024

195,749

Constellation

Brands,

Inc.

190,000

3.600%, 

2/15/2028

215,771

110,000

2.875%, 

5/1/2030

119,575

CVS

Health

Corporation

50,000

4.000%, 

12/5/2023

55,126

245,000

4.100%, 

3/25/2025

278,442

275,000

3.625%, 

4/1/2027

314,745

270,000

4.875%, 

7/20/2035

351,018

DaVita,

Inc.

140,000

4.625%, 

6/1/2030

g

148,967

DENTSPLY

SIRONA,

Inc.

350,000

3.250%, 

6/1/2030

382,874

Edgewell

Personal

Care

Company

60,000

5.500%, 

6/1/2028

g

64,950

Encompass

Health

Corporation

170,000

4.500%, 

2/1/2028

177,650

Energizer

Holdings,

Inc.

190,000

4.750%, 

6/15/2028

g

203,794

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Consumer

Non-Cyclical

(1.8%)

-

continued

Express

Scripts

Holding

Company

$

355,000

4.800%, 

7/15/2046

$

412,282

General

Mills,

Inc.

150,000

2.875%, 

4/15/2030

168,210

HCA,

Inc.

350,000

5.375%, 

2/1/2025

394,625

Imperial

Brands

Finance

plc

200,000

3.875%, 

7/26/2029

g

218,224

JBS

Investments

II

GmbH

180,000

5.750%, 

1/15/2028

g

191,124

JBS

USA,

LLC

90,000

5.750%, 

6/15/2025

g

92,362

120,000

5.500%, 

1/15/2030

g

132,300

Kellogg

Company

300,000

2.100%, 

6/1/2030

314,597

Keurig

Dr.

Pepper,

Inc.

250,000

3.200%, 

5/1/2030

283,736

Kimberly-Clark

Corporation

165,000

3.100%, 

3/26/2030

192,051

220,000

3.900%, 

5/4/2047

290,405

Kraft

Foods

Group,

Inc.

140,000

5.000%, 

6/4/2042

156,668

Kraft

Heinz

Foods

Company

220,000

4.625%, 

1/30/2029

250,617

210,000

3.750%, 

4/1/2030

g

227,550

Medtronic,

Inc.

47,000

4.375%, 

3/15/2035

63,789

13,000

4.625%, 

3/15/2045

18,744

Merck

&

Company,

Inc.

50,000

3.700%, 

2/10/2045

64,992

Molina

Healthcare,

Inc.

100,000

4.375%, 

6/15/2028

g

106,253

Mondelez

International,

Inc.

90,000

2.750%, 

4/13/2030

99,862

Mylan,

Inc.

55,000

3.125%, 

1/15/2023

g

58,097

Nestle

Holdings,

Inc.

200,000

3.900%, 

9/24/2038

g

266,022

Par

Pharmaceutical,

Inc.

120,000

7.500%, 

4/1/2027

g

127,636

Post

Holdings,

Inc.

90,000

5.750%, 

3/1/2027

g

95,850

Quest

Diagnostics,

Inc.

300,000

2.800%, 

6/30/2031

328,962

Reynolds

American,

Inc.

299,000

5.700%, 

8/15/2035

381,355

Roche

Holdings,

Inc.

138,000

4.000%, 

11/28/2044

g

182,894

Scotts

Miracle-

Gro

Company

140,000

4.500%, 

10/15/2029

148,225

Shire

Acquisitions

Investments

Ireland

Designated

Activity

Company

183,000

2.400%, 

9/23/2021

186,653

Simmons

Foods,

Inc.

85,000

5.750%, 

11/1/2024

g

85,425

Smithfield

Foods,

Inc.

145,000

2.650%, 

10/3/2021

g

144,693

Spectrum

Brands,

Inc.

40,000

5.500%, 

7/15/2030

g

41,500

Teleflex,

Inc.

30,000

4.250%, 

6/1/2028

g

32,138

Tenet

Healthcare

Corporation

60,000

4.625%, 

7/15/2024

61,350

180,000

5.125%, 

11/1/2027

g

191,250

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

205

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Consumer

Non-Cyclical

(1.8%)

-

continued

Teva

Pharmaceutical

Finance

Netherlands

III

BV

$

140,000

2.800%, 

7/21/2023

$

135,772

Thermo

Fisher

Scientific,

Inc.

165,000

4.133%, 

3/25/2025

190,030

Tyson

Foods,

Inc.

88,000

3.550%, 

6/2/2027

100,222

UnitedHealth

Group,

Inc.

225,000

2.950%, 

10/15/2027

255,818

505,000

4.625%, 

7/15/2035

688,089

Upjohn,

Inc.

300,000

2.300%, 

6/22/2027

g

315,770

VRX

Escrow

Corporation

475,000

6.125%, 

4/15/2025

g

490,438

Zoetis,

Inc.

275,000

4.700%, 

2/1/2043

384,389

Total

19,076,795

Energy

(1.2%)

Antero

Resources

Corporation

75,000

5.000%, 

3/1/2025

47,531

Apache

Corporation

90,000

4.375%, 

10/15/2028

89,887

70,000

5.100%, 

9/1/2040

68,075

Archrock

Partners,

LP

150,000

6.250%, 

4/1/2028

g

151,500

BP

Capital

Markets

America,

Inc.

50,000

3.119%, 

5/4/2026

55,759

150,000

3.543%, 

4/6/2027

170,249

BP

Capital

Markets

plc

312,000

3.279%, 

9/19/2027

352,404

Buckeye

Partners,

LP

50,000

4.125%, 

3/1/2025

g

50,250

100,000

3.950%, 

12/1/2026

99,250

40,000

4.125%, 

12/1/2027

39,000

Canadian

Natural

Resources,

Ltd.

90,000

2.050%, 

7/15/2025

92,015

140,000

2.950%, 

7/15/2030

143,627

Canadian

Oil

Sands,

Ltd.

115,000

9.400%, 

9/1/2021

g

122,345

Cheniere

Energy

Partners,

LP

270,000

5.625%, 

10/1/2026

285,187

Chesapeake

Energy

Corporation

77,000

11.500%, 

1/1/2025

g,j,k

7,122

Comstock

Resources,

Inc.

70,000

9.750%, 

8/15/2026

69,978

ConocoPhillips

220,000

6.500%, 

2/1/2039

344,704

Continental

Resources,

Inc.

75,000

5.000%, 

9/15/2022

75,000

75,000

4.500%, 

4/15/2023

74,913

DCP

Midstream

Operating,

LP

90,000

5.625%, 

7/15/2027

93,375

Diamondback

Energy,

Inc.

200,000

3.500%, 

12/1/2029

200,223

El

Paso

Pipeline

Partners

Operating

Company,

LLC

130,000

4.300%, 

5/1/2024

144,097

Enagas

SA

235,000

5.500%, 

1/15/2028

g

209,122

Endeavor

Energy

Resources,

LP

50,000

6.625%, 

7/15/2025

g

52,532

40,000

5.500%, 

1/30/2026

g

40,200

110,000

5.750%, 

1/30/2028

g

112,888

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Energy

(1.2%)

-

continued

Energy

Transfer

Operating,

LP

$

85,000

4.200%, 

9/15/2023

$

89,773

275,000

6.000%, 

6/15/2048

289,826

Energy

Transfer

Partners,

LP

155,000

4.900%, 

3/15/2035

157,046

50,000

5.150%, 

2/1/2043

47,681

EnLink

Midstream

Partners,

LP

100,000

4.850%, 

7/15/2026

77,514

60,000

5.600%, 

4/1/2044

33,300

EOG

Resources,

Inc.

250,000

4.375%, 

4/15/2030

304,267

EQM

Midstream

Partners

LP

100,000

6.500%, 

7/1/2027

g

110,260

EQM

Midstream

Partners,

LP

50,000

5.500%, 

7/15/2028

51,840

EQT

Corporation

150,000

3.900%, 

10/1/2027

141,345

Equinor

ASA

375,000

3.000%, 

4/6/2027

418,073

Exxon

Mobil

Corporation

300,000

3.452%, 

4/15/2051

355,417

Kinder

Morgan

Energy

Partners,

LP

215,000

6.500%, 

9/1/2039

283,653

Kinder

Morgan,

Inc.

225,000

6.500%, 

9/15/2020

226,479

Magellan

Midstream

Partners,

LP

130,000

5.000%, 

3/1/2026

151,630

Marathon

Oil

Corporation

225,000

4.400%, 

7/15/2027

228,626

Marathon

Petroleum

Corporation

264,000

4.750%, 

12/15/2023

291,421

35,000

6.500%, 

3/1/2041

45,789

MPLX,

LP

250,000

4.875%, 

12/1/2024

281,346

264,000

4.875%, 

6/1/2025

299,110

Murphy

Oil

Corporation

80,000

5.875%, 

12/1/2027

73,600

Nabors

Industries,

Inc.

120,000

5.750%, 

2/1/2025

47,400

Nabors

Industries,

Ltd.

100,000

7.250%, 

1/15/2026

g

63,156

Newfield

Exploration

Company

60,000

5.625%, 

7/1/2024

59,943

128,000

5.375%, 

1/1/2026

124,471

Noble

Energy,

Inc.

300,000

5.050%, 

11/15/2044

400,545

Occidental

Petroleum

Corporation

90,000

2.700%, 

8/15/2022

86,884

180,000

2.900%, 

8/15/2024

169,371

60,000

3.400%, 

4/15/2026

54,300

50,000

8.500%, 

7/15/2027

55,680

100,000

3.500%, 

8/15/2029

88,877

60,000

6.450%, 

9/15/2036

60,013

150,000

4.400%, 

4/15/2046

122,205

ONEOK,

Inc.

220,000

2.200%, 

9/15/2025

216,224

Parsley

Energy,

LLC

165,000

5.625%, 

10/15/2027

g

172,838

Pioneer

Natural

Resources

Company

90,000

4.450%, 

1/15/2026

104,957

Plains

All

American

Pipeline,

LP

200,000

4.500%, 

12/15/2026

215,152

250,000

3.550%, 

12/15/2029

246,913

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

206

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Energy

(1.2%)

-

continued

QEP

Resources,

Inc.

$

60,000

5.625%, 

3/1/2026

$

34,950

Regency

Energy

Partners,

LP

50,000

5.875%, 

3/1/2022

52,457

Sabine

Pass

Liquefaction,

LLC

125,000

6.250%, 

3/15/2022

133,739

150,000

5.625%, 

4/15/2023

165,295

175,000

5.750%, 

5/15/2024

199,349

Schlumberger

Holdings

Corporation

180,000

4.000%, 

12/21/2025

g

199,728

Southwestern

Energy

Company

165,000

7.500%, 

4/1/2026

154,811

Suncor

Energy,

Inc.

155,000

3.600%, 

12/1/2024

169,890

Sunoco

Logistics

Partners

Operations,

LP

150,000

4.000%, 

10/1/2027

153,688

Sunoco,

LP

90,000

5.875%, 

3/15/2028

94,050

Targa

Resources

Partners,

LP

190,000

5.375%, 

2/1/2027

196,302

Transocean

Guardian,

Ltd.

93,600

5.875%, 

1/15/2024

g

82,602

Transocean

Pontus,

Ltd.

25,050

6.125%, 

8/1/2025

g

23,109

W&T

Offshore,

Inc.

145,000

9.750%, 

11/1/2023

g

96,663

Western

Gas

Partners,

LP

176,000

4.000%, 

7/1/2022

181,628

Western

Midstream

Operating,

LP

40,000

5.250%, 

2/1/2050

39,500

90,000

3.100%, 

2/1/2025

89,784

90,000

3.950%, 

6/1/2025

89,550

Williams

Companies,

Inc.

225,000

7.500%, 

1/15/2031

295,125

Williams

Partners,

LP

100,000

4.500%, 

11/15/2023

109,633

20,000

6.300%, 

4/15/2040

25,976

WPX

Energy,

Inc.

110,000

5.750%, 

6/1/2026

112,200

50,000

4.500%, 

1/15/2030

46,545

Total

12,184,732

Financials

(2.9%)

ACE

INA

Holdings,

Inc.

138,000

4.350%, 

11/3/2045

194,853

AerCap

Ireland

Capital,

Ltd.

40,000

4.625%, 

10/30/2020

40,175

14,000

4.625%, 

7/1/2022

14,215

160,000

3.500%, 

1/15/2025

153,106

175,000

3.875%, 

1/23/2028

161,461

Aircastle

,

Ltd.

325,000

5.000%, 

4/1/2023

325,775

Ally

Financial,

Inc.

200,000

5.750%, 

11/20/2025

225,785

American

International

Group,

Inc.

255,000

3.750%, 

7/10/2025

287,448

250,000

3.900%, 

4/1/2026

287,321

AvalonBay

Communities,

Inc.

125,000

3.500%, 

11/15/2025

141,246

Aviation

Capital

Group,

LLC

255,000

2.875%, 

1/20/2022

g

250,820

Avolon

Holdings

Funding,

Ltd.

112,000

5.250%, 

5/15/2024

g

104,520

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Financials

(2.9%)

-

continued

Banco

Santander

Mexico

SA

$

200,000

5.375%, 

4/17/2025

g

$

221,710

Banco

Santander

SA

400,000

1.386%, 

(LIBOR

3M

+

1.120%),

4/12/2023

b

399,674

Bank

of

America

Corporation

184,000

4.000%, 

4/1/2024

205,793

200,000

4.200%, 

8/26/2024

224,200

300,000

4.000%, 

1/22/2025

335,271

225,000

3.458%, 

3/15/2025

b

245,877

225,000

3.093%, 

10/1/2025

b

244,098

180,000

3.824%, 

1/20/2028

b

205,948

275,000

2.496%, 

2/13/2031

b

292,178

165,000

2.592%, 

4/29/2031

b

177,148

Barclays

Bank

plc

46,000

10.179%, 

6/12/2021

g

49,414

Barclays

plc

225,000

4.610%, 

2/15/2023

b

237,222

236,000

3.650%, 

3/16/2025

258,958

Boston

Properties,

LP

150,000

4.500%, 

12/1/2028

181,331

BPCE

SA

315,000

3.500%, 

10/23/2027

g

349,040

Camden

Property

Trust

250,000

3.150%, 

7/1/2029

284,071

Capital

One

Financial

Corporation

200,000

4.200%, 

10/29/2025

224,614

Cascades

USA,

Inc.

130,000

5.125%, 

1/15/2026

g

134,225

CIT

Group,

Inc.

195,000

5.000%, 

8/15/2022

201,337

50,000

5.250%, 

3/7/2025

53,500

Citigroup,

Inc.

370,000

4.400%, 

6/10/2025

419,932

160,000

3.200%, 

10/21/2026

178,070

340,000

3.668%, 

7/24/2028

b

386,587

120,000

4.125%, 

7/25/2028

138,974

225,000

3.520%, 

10/27/2028

b

253,563

162,000

4.650%, 

7/23/2048

227,559

CNA

Financial

Corporation

100,000

3.900%, 

5/1/2029

114,144

Comerica,

Inc.

75,000

3.700%, 

7/31/2023

81,125

Commerzbank

AG

200,000

8.125%, 

9/19/2023

g

231,070

Cooperatieve

Centrale

Raiffeisen-

Boerenleenbank

BA

258,000

3.950%, 

11/9/2022

274,814

278,000

4.625%, 

12/1/2023

307,662

Credit

Acceptance

Corporation

90,000

5.125%, 

12/31/2024

g

91,620

Credit

Agricole

SA

250,000

3.250%, 

1/14/2030

g

274,322

Credit

Suisse

Group

AG

200,000

7.250%, 

9/12/2025

b,g,l

212,750

350,000

2.193%, 

6/5/2026

b,g

360,694

250,000

3.869%, 

1/12/2029

b,g

281,091

Danske

Bank

AS

200,000

3.244%, 

12/20/2025

b,g

214,422

Deutsche

Bank

AG

100,000

4.250%, 

10/14/2021

103,241

225,000

3.961%, 

11/26/2025

b

239,950

Discover

Bank

260,000

4.682%, 

8/9/2028

b

269,773

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

207

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Financials

(2.9%)

-

continued

Duke

Realty,

LP

$

150,000

2.875%, 

11/15/2029

$

168,195

ERP

Operating,

LP

54,000

3.375%, 

6/1/2025

59,908

ESH

Hospitality,

Inc.

90,000

5.250%, 

5/1/2025

g

91,933

40,000

4.625%, 

10/1/2027

g

38,492

Fidelity

National

Financial,

Inc.

250,000

5.500%, 

9/1/2022

269,513

First

Horizon

National

Corporation

350,000

4.000%, 

5/26/2025

380,236

GE

Capital

Funding,

LLC

875,000

4.400%, 

5/15/2030

g

922,032

GE

Capital

International

Funding

Company

210,000

4.418%, 

11/15/2035

217,054

Goldman

Sachs

Group,

Inc.

300,000

4.370%, 

(LIBOR

3M

+

3.922%),

9/3/2020

b,l

291,375

176,000

2.908%, 

6/5/2023

b

182,889

200,000

3.625%, 

2/20/2024

218,977

210,000

4.750%, 

10/21/2045

290,390

HCP,

Inc.

100,000

3.400%, 

2/1/2025

109,619

Healthpeak

Properties,

Inc.

175,000

2.875%, 

1/15/2031

185,668

HSBC

Holdings

plc

200,000

6.875%, 

6/1/2021

b,l

203,895

275,000

3.803%, 

3/11/2025

b

297,826

350,000

3.900%, 

5/25/2026

393,217

300,000

4.950%, 

3/31/2030

367,166

Icahn

Enterprises,

LP

170,000

6.375%, 

12/15/2025

176,800

80,000

6.250%, 

5/15/2026

84,542

ING

Groep

NV

250,000

4.100%, 

10/2/2023

275,502

International

Lease

Finance

Corporation

80,000

5.875%, 

8/15/2022

86,379

Iron

Mountain,

Inc.

150,000

4.875%, 

9/15/2027

g

155,812

J.P.

Morgan

Chase

&

Company

200,000

3.625%, 

5/13/2024

221,952

200,000

3.875%, 

9/10/2024

223,525

145,000

3.125%, 

1/23/2025

159,029

425,000

3.900%, 

7/15/2025

483,956

150,000

3.300%, 

4/1/2026

168,756

275,000

4.203%, 

7/23/2029

b

328,234

175,000

2.522%, 

4/22/2031

b

188,756

260,000

3.882%, 

7/24/2038

b

323,898

Kimco

Realty

Corporation

320,000

3.300%, 

2/1/2025

343,886

Liberty

Mutual

Group,

Inc.

80,000

4.950%, 

5/1/2022

g

85,562

Lloyds

Banking

Group

plc

225,000

2.907%, 

11/7/2023

b

235,392

450,000

3.870%, 

7/9/2025

b

496,119

MetLife,

Inc.

210,000

4.050%, 

3/1/2045

268,990

MGM

Growth

Properties

Operating

Partnership,

LP

60,000

4.625%, 

6/15/2025

g

63,074

Mitsubishi

UFJ

Financial

Group,

Inc.

455,000

3.455%, 

3/2/2023

486,834

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Financials

(2.9%)

-

continued

$

200,000

3.287%, 

7/25/2027

$

223,334

350,000

2.048%, 

7/17/2030

360,088

Morgan

Stanley

80,000

4.085%, 

(LIBOR

3M

+

3.810%),

10/15/2020

b,l

77,702

135,000

4.875%, 

11/1/2022

147,168

185,000

3.125%, 

1/23/2023

196,692

110,000

2.188%, 

4/28/2026

b

115,891

275,000

4.350%, 

9/8/2026

322,238

240,000

3.591%, 

7/22/2028

b

274,169

350,000

3.622%, 

4/1/2031

b

409,283

MPT

Operating

Partnership,

LP

55,000

6.375%, 

3/1/2024

56,719

125,000

4.625%, 

8/1/2029

132,070

Nasdaq,

Inc.

150,000

3.250%, 

4/28/2050

172,156

110,000

3.850%, 

6/30/2026

125,395

Nationwide

Building

Society

200,000

3.622%, 

4/26/2023

b,g

208,738

Outfront

Media

Cap,

LLC

220,000

4.625%, 

3/15/2030

g

205,700

Park

Aerospace

Holdings,

Ltd.

112,000

4.500%, 

3/15/2023

g

105,800

Prudential

Financial,

Inc.

175,000

3.700%, 

3/13/2051

209,286

Quicken

Loans,

Inc.

150,000

5.750%, 

5/1/2025

g

154,640

Realty

Income

Corporation

175,000

4.125%, 

10/15/2026

203,087

Regency

Centers,

LP

290,000

4.125%, 

3/15/2028

325,545

Reinsurance

Group

of

America,

Inc.

160,000

4.700%, 

9/15/2023

176,683

Royal

Bank

of

Scotland

Group

plc

75,000

6.125%, 

12/15/2022

82,167

100,000

6.100%, 

6/10/2023

110,634

200,000

3.875%, 

9/12/2023

217,212

275,000

6.000%, 

12/29/2025

b,l

288,750

200,000

4.445%, 

5/8/2030

b

238,036

Service

Properties

Trust

70,000

4.500%, 

6/15/2023

66,500

40,000

4.750%, 

10/1/2026

35,200

Simon

Property

Group,

LP

160,000

4.250%, 

11/30/2046

186,892

Societe

Generale

SA

132,000

4.750%, 

11/24/2025

g

145,397

Springleaf

Finance

Corporation

140,000

6.875%, 

3/15/2025

156,450

110,000

7.125%, 

3/15/2026

128,956

Sumitomo

Mitsui

Financial

Group,

Inc.

120,000

3.010%, 

10/19/2026

133,033

Synchrony

Financial

70,000

4.250%, 

8/15/2024

74,349

175,000

3.950%, 

12/1/2027

184,662

UBS

Group

Funding

Jersey,

Ltd.

138,000

4.125%, 

9/24/2025

g

158,466

UDR,

Inc.

175,000

2.100%, 

8/1/2032

178,673

Ventas

Realty,

LP

190,000

3.100%, 

1/15/2023

196,275

VICI

Properties,

LP

/

VICI

Note

Company,

Inc.

50,000

4.250%, 

12/1/2026

g

51,500

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

208

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Financials

(2.9%)

-

continued

$

30,000

3.750%, 

2/15/2027

g

$

30,225

90,000

4.625%, 

12/1/2029

g

94,725

30,000

4.125%, 

8/15/2030

g

30,360

Voya

Financial,

Inc.

310,000

3.125%, 

7/15/2024

334,175

Wells

Fargo

&

Company

160,000

3.450%, 

2/13/2023

169,905

200,000

4.125%, 

8/15/2023

218,577

205,000

3.000%, 

2/19/2025

222,935

300,000

3.000%, 

4/22/2026

328,736

163,000

3.000%, 

10/23/2026

178,809

300,000

2.393%, 

6/2/2028

b

315,179

307,000

4.900%, 

11/17/2045

405,561

Total

30,083,803

Mortgage-Backed

Securities

(12.8%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

8,080,027

3.000%, 

3/25/2050

8,556,278

4,977,658

3.000%, 

4/1/2050

5,271,050

3,730,383

3.500%, 

7/1/2047

3,946,548

Federal

National

Mortgage

Association

487,318

3.230%, 

11/1/2020

487,005

1,823,471

4.500%, 

5/1/2048

1,961,782

3,437,465

3.500%, 

10/1/2048

3,629,911

2,335,413

3.500%, 

6/1/2049

2,469,372

3,981,289

3.500%, 

8/1/2049

4,213,933

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

9,090,000

2.000%, 

8/1/2035

e

9,455,020

11,660,000

2.500%, 

8/1/2035

e

12,237,534

9,675,000

2.000%, 

9/1/2035

e

10,049,906

7,000,000

1.500%, 

10/15/2035

e

7,153,399

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

1,750,000

2.000%, 

8/1/2050

e

1,813,027

25,500,000

2.500%, 

8/1/2050

e,m

26,787,949

16,850,000

2.000%, 

9/1/2050

e,m

17,424,619

12,228,000

3.000%, 

9/1/2043

e

12,907,735

5,952,396

4.000%, 

7/1/2048

6,319,045

Total

134,684,113

Technology

(1.1%)

Apple,

Inc.

170,000

3.200%, 

5/11/2027

194,738

100,000

3.000%, 

6/20/2027

113,525

365,000

3.000%, 

11/13/2027

416,628

490,000

3.750%, 

9/12/2047

631,296

Applied

Materials,

Inc.

88,000

3.300%, 

4/1/2027

101,914

Avnet,

Inc.

120,000

3.750%, 

12/1/2021

123,728

Baidu,

Inc.

220,000

3.425%, 

4/7/2030

n

246,074

Broadcom

Corporation

164,000

3.875%, 

1/15/2027

182,170

200,000

3.500%, 

1/15/2028

217,070

Broadcom,

Inc.

300,000

4.750%, 

4/15/2029

g

349,698

125,000

5.000%, 

4/15/2030

g

148,546

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Technology

(1.1%)

-

continued

CDW,

LLC

$

110,000

4.250%, 

4/1/2028

$

117,656

CommScope

Technologies

Finance,

LLC

250,000

6.000%, 

6/15/2025

g

255,425

Diamond

1

Finance

Corporation

295,000

6.020%, 

6/15/2026

g

345,842

Diamond

Sports

Group,

LLC

70,000

5.375%, 

8/15/2026

g

53,905

140,000

6.625%, 

8/15/2027

g

76,650

Fiserv,

Inc.

200,000

2.250%, 

6/1/2027

214,011

250,000

2.650%, 

6/1/2030

273,508

Gartner,

Inc.

60,000

4.500%, 

7/1/2028

g

63,000

Harland

Clarke

Holdings

Corporation

100,000

8.375%, 

8/15/2022

g

81,750

Hewlett

Packard

Enterprise

Company

160,000

4.650%, 

10/1/2024

179,916

Intel

Corporation

225,000

3.100%, 

2/15/2060

263,016

Iron

Mountain,

Inc.

90,000

5.250%, 

7/15/2030

g

94,387

KLA

Corporation

330,000

3.300%, 

3/1/2050

369,525

Lam

Research

Corporation

275,000

2.875%, 

6/15/2050

313,678

Marvell

Technology

Group,

Ltd.

165,000

4.200%, 

6/22/2023

178,557

220,000

4.875%, 

6/22/2028

270,609

Micron

Technology,

Inc.

110,000

2.497%, 

4/24/2023

114,832

Microsoft

Corporation

318,000

2.675%, 

6/1/2060

349,502

280,000

4.200%, 

11/3/2035

377,390

625,000

3.700%, 

8/8/2046

811,969

NCR

Corporation

240,000

6.125%, 

9/1/2029

g

262,908

NVIDIA

Corporation

275,000

3.500%, 

4/1/2040

328,298

NXP

BV/NXP

Funding,

LLC

225,000

4.875%, 

3/1/2024

g

253,095

Open

Text

Corporation

160,000

4.125%, 

2/15/2030

g

168,000

Oracle

Corporation

490,000

2.950%, 

5/15/2025

540,982

350,000

2.800%, 

4/1/2027

388,633

225,000

3.850%, 

7/15/2036

277,037

275,000

3.600%, 

4/1/2040

325,431

Plantronics,

Inc.

170,000

5.500%, 

5/31/2023

g

160,684

PTC,

Inc.

40,000

3.625%, 

2/15/2025

g

41,471

40,000

4.000%, 

2/15/2028

g

42,014

Sensata

Technologies

BV

100,000

5.000%, 

10/1/2025

g

108,000

SS&C

Technologies,

Inc.

210,000

5.500%, 

9/30/2027

g

225,750

Texas

Instruments,

Inc.

270,000

4.150%, 

5/15/2048

375,594

Tyco

Electronics

Group

SA

40,000

3.450%, 

8/1/2024

43,711

80,000

3.125%, 

8/15/2027

88,296

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

209

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Technology

(1.1%)

-

continued

Vmware

,

Inc.

$

250,000

4.650%, 

5/15/2027

$

286,175

Total

11,446,594

Transportation

(0.2%)

Air

Canada

Pass

Through

Trust

43,068

3.875%, 

3/15/2023

g

36,636

Air

Lease

Corporation

75,000

3.500%, 

1/15/2022

75,883

Burlington

Northern

Santa

Fe,

LLC

130,000

5.750%, 

5/1/2040

195,733

100,000

5.050%, 

3/1/2041

140,898

130,000

4.450%, 

3/15/2043

177,257

CSX

Corporation

165,000

3.800%, 

4/15/2050

209,465

98,000

3.700%, 

11/1/2023

107,981

175,000

3.350%, 

9/15/2049

204,033

Delta

Air

Lines,

Inc.

130,000

7.000%, 

5/1/2025

g

138,938

Mileage

Plus

Holdings,

LLC

90,000

6.500%, 

6/20/2027

g

93,150

NCL

Corporation,

Ltd.

80,000

3.625%, 

12/15/2024

g

52,872

Penske

Truck

Leasing

Company,

LP

200,000

3.375%, 

2/1/2022

g

206,405

Southwest

Airlines

Company

250,000

4.750%, 

5/4/2023

262,351

75,000

5.125%, 

6/15/2027

78,691

United

Parcel

Service,

Inc.

220,000

4.450%, 

4/1/2030

280,555

XPO

Logistics,

Inc.

225,000

6.750%, 

8/15/2024

g

241,979

Total

2,502,827

U.S.

Government

&

Agencies

(14.1%)

U.S.

Treasury

Bonds

2,285,000

2.250%, 

11/15/2027

2,587,405

5,450,000

2.875%, 

5/15/2028

6,467,617

2,190,000

5.250%, 

11/15/2028

3,046,410

4,000,000

1.625%, 

8/15/2029

4,398,906

4,750,000

1.500%, 

2/15/2030

5,183,809

550,000

4.375%, 

5/15/2040

892,633

2,000,000

3.000%, 

5/15/2042

2,761,953

4,999,000

2.500%, 

5/15/2046

6,476,244

7,300,000

2.875%, 

5/15/2049

10,320,090

200,000

2.375%, 

11/15/2049

258,656

U.S.

Treasury

Notes

400,000

1.375%, 

8/31/2020

400,385

130,000

1.875%, 

12/15/2020

130,848

2,750,000

2.500%, 

2/28/2021

2,787,383

1,000,000

1.375%, 

5/31/2021

1,010,391

9,210,000

1.125%, 

8/31/2021

9,308,576

9,850,000

1.500%, 

9/30/2021

10,005,830

1,170,000

1.125%, 

2/28/2022

1,188,281

6,135,000

0.125%, 

6/30/2022

6,135,479

4,060,000

1.875%, 

7/31/2022

4,201,307

19,985,000

2.000%, 

11/30/2022

20,855,440

1,700,000

2.500%, 

3/31/2023

1,807,312

11,330,000

2.500%, 

1/31/2024

12,255,873

1,350,000

2.125%, 

7/31/2024

1,454,941

8,000,000

1.250%, 

8/31/2024

8,348,750

2,540,000

2.250%, 

11/15/2024

2,762,845

1,090,000

2.125%, 

11/30/2024

1,180,649

1,000,000

1.375%, 

1/31/2025

1,052,695

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

U.S.

Government

&

Agencies

(14.1%)

-

continued

$

7,440,000

2.625%, 

1/31/2026

$

8,394,413

9,300,000

2.500%, 

2/28/2026

10,445,063

1,950,000

0.500%, 

4/30/2027

1,965,844

Total

148,086,028

Utilities

(1.1%)

AES

Corporation

125,000

5.125%, 

9/1/2027

135,384

Ameren

Illinois

Company

150,000

4.500%, 

3/15/2049

212,855

American

Water

Capital

Corporation

275,000

2.800%, 

5/1/2030

310,015

Appalachian

Power

Company

85,000

3.300%, 

6/1/2027

93,623

Arizona

Public

Service

Company

150,000

3.500%, 

12/1/2049

176,043

Berkshire

Hathaway

Energy

Company

140,000

4.500%, 

2/1/2045

191,842

Calpine

Corporation

140,000

4.500%, 

2/15/2028

g

144,550

CenterPoint

Energy,

Inc.

75,000

3.850%, 

2/1/2024

82,515

175,000

2.500%, 

9/1/2024

186,767

140,000

4.250%, 

11/1/2028

166,846

CMS

Energy

Corporation

120,000

2.950%, 

2/15/2027

128,235

Commonwealth

Edison

Company

205,000

3.700%, 

3/1/2045

255,094

Consolidated

Edison

Company

of

New

York,

Inc.

325,000

4.125%, 

5/15/2049

427,565

Consolidated

Edison,

Inc.

69,000

4.500%, 

12/1/2045

92,412

Consumers

Energy

Company

175,000

4.350%, 

4/15/2049

248,839

DTE

Electric

Company

115,000

3.700%, 

3/15/2045

144,395

145,000

3.700%, 

6/1/2046

181,715

Duke

Energy

Carolinas,

LLC

315,000

3.700%, 

12/1/2047

400,639

Duke

Energy

Corporation

160,000

3.750%, 

9/1/2046

197,137

Duke

Energy

Florida,

LLC

120,000

3.200%, 

1/15/2027

137,015

Duke

Energy

Indiana,

LLC

185,000

3.750%, 

5/15/2046

232,953

Edison

International

250,000

5.750%, 

6/15/2027

291,335

Energy

Transfer

Operating,

LP

280,000

5.200%, 

2/1/2022

291,481

Exelon

Corporation

200,000

4.700%, 

4/15/2050

276,329

50,000

5.100%, 

6/15/2045

68,539

263,000

4.450%, 

4/15/2046

341,535

FirstEnergy

Corporation

50,000

2.850%, 

7/15/2022

51,269

320,000

4.850%, 

7/15/2047

395,468

ITC

Holdings

Corporation

66,000

4.050%, 

7/1/2023

71,277

80,000

5.300%, 

7/1/2043

110,386

Mississippi

Power

Company

165,000

3.950%, 

3/30/2028

191,693

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

210

Principal

Amount

Long-Term

Fixed

Income

(42.9%)

Value

Utilities

(1.1%)

-

continued

Monongahela

Power

Company

$

150,000

5.400%, 

12/15/2043

g

$

217,727

National

Rural

Utilities

Cooperative

Finance

Corporation

90,000

3.900%, 

11/1/2028

107,830

200,000

3.700%, 

3/15/2029

238,787

NextEra

Energy

Operating

Partners,

LP

240,000

3.875%, 

10/15/2026

g

250,800

NiSource

Finance

Corporation

88,000

3.490%, 

5/15/2027

100,783

255,000

5.650%, 

2/1/2045

373,928

NiSource,

Inc.

250,000

3.600%, 

5/1/2030

294,455

Pacific

Gas

and

Electric

Company

175,000

3.300%, 

12/1/2027

f

184,908

175,000

3.950%, 

12/1/2047

f

185,855

PG&E

Corporation

60,000

5.000%, 

7/1/2028

61,737

50,000

5.250%, 

7/1/2030

52,000

PPL

Capital

Funding,

Inc.

225,000

5.000%, 

3/15/2044

292,686

PPL

Electric

Utilities

Corporation

132,000

3.950%, 

6/1/2047

172,976

Public

Service

Electric

&

Gas

Company

220,000

3.000%, 

5/15/2027

246,232

San

Diego

Gas

and

Electric

Company

270,000

4.150%, 

5/15/2048

354,620

South

Carolina

Electric

&

Gas

Company

350,000

5.100%, 

6/1/2065

562,295

Southern

California

Edison

Company

175,000

4.000%, 

4/1/2047

208,105

Southern

Company

215,000

3.250%, 

7/1/2026

244,131

Southern

Company

Gas

Capital

Corporation

220,000

4.400%, 

5/30/2047

282,187

Southwestern

Electric

Power

Company

65,000

3.900%, 

4/1/2045

75,387

Suburban

Propane

Partners,

LP

110,000

5.875%, 

3/1/2027

111,925

Talen

Energy

Supply,

LLC

120,000

7.625%, 

6/1/2028

g

125,400

TerraForm

Power

Operating,

LLC

120,000

5.000%, 

1/31/2028

g

132,300

Virginia

Electric

and

Power

Company

125,000

4.600%, 

12/1/2048

180,877

Vistra

Operations

Company,

LLC

160,000

5.000%, 

7/31/2027

g

170,800

Total

11,464,482

Total

Long-Term

Fixed

Income

(cost

$423,109,774)

449,948,708

Shares

Registered

Investment

Companies

(

38.6%

)

Value

Unaffiliated  (0.8%)

1,713

Health

Care

Select

Sector

SPDR

Fund

180,773

Shares

Registered

Investment

Companies

(38.6%)

Value

Unaffiliated  (0.8%)-

continued

113,400

Invesco

Senior

Loan

ETF

$

2,453,976

1,732

iShares

Dow

Jones

US

Home

Construction

Index

Fund

89,475

2,456

ProShares

Ultra

S&P

500

343,103

6,676

SPDR

Bloomberg

Barclays

High

Yield

Bond

ETF

708,324

13,488

SPDR

S&P

500

ETF

Trust

4,404,102

1,220

SPDR

S&P

Regional

Banking

ETF

45,848

70

Utilities

Select

Sector

SPDR

Fund

4,258

Total

8,229,859

Affiliated  (37.8%)

3,595,005

Thrivent

Core

Emerging

Markets

Debt

Fund

35,985,998

592,723

Thrivent

Core

Emerging

Markets

Equity

Fund

o

5,992,431

969,305

Thrivent

Core

International

Equity

Fund

8,316,637

2,477,074

Thrivent

Core

Low

Volatility

Equity

Fund

29,204,703

58,959

Thrivent

Global

Stock

Fund,

Class

S

1,420,912

5,230,859

Thrivent

High

Yield

Fund,

Class

S

23,800,411

8,113,650

Thrivent

Income

Fund,

Class

S

82,678,089

3,941,200

Thrivent

International

Allocation

Fund,

Class

S

36,534,925

2,895,654

Thrivent

Large

Cap

Growth

Fund,

Class

S

46,475,254

3,015,573

Thrivent

Large

Cap

Value

Fund,

Class

S

62,392,197

3,249,724

Thrivent

Limited

Maturity

Bond

Fund,

Class

S

41,206,501

692,303

Thrivent

Mid

Cap

Stock

Fund,

Class

S

18,622,940

212,720

Thrivent

Small

Cap

Stock

Fund,

Class

S

4,524,550

Total

397,155,548

Total

Registered

Investment

Companies

(cost

$326,800,958)

405,385,407

Shares

Common

Stock

(

10.4%

)

Value

Communications

Services

(0.4%)

791

Activision

Blizzard,

Inc.

65,360

564

Alphabet,

Inc.,

Class

A

o

839,204

286

Alphabet,

Inc.,

Class

C

o

424,127

4,373

AMC

Entertainment

Holdings,

Inc.

17,667

488

AMC

Networks,

Inc.

o

11,273

1,712

AT&T,

Inc.

50,641

2,386

Cinemark

Holdings,

Inc.

28,226

3,537

Comcast

Corporation

151,384

1,232

Consolidated

Communications

Holdings,

Inc.

o

8,994

1,140

Discovery,

Inc.,

Class

A

n,o

24,054

1,305

DISH

Network

Corporation

o

41,904

1,343

EchoStar

Corporation

o

36,664

2,113

Facebook,

Inc.

o

536,005

11,232

Gannett

Company,

Inc.

16,623

400

Hemisphere

Media

Group,

Inc.

o

3,520

122

IAC/

InterActiveCorp

o

16,155

2,689

Interpublic

Group

of

Companies,

Inc.

48,536

1,152

Lions

Gate

Entertainment

Corporation,

Class

A

o

8,824

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

211

Shares

Common

Stock

(10.4%)

Value

Communications

Services

(0.4%)

-

continued

1,498

Lions

Gate

Entertainment

Corporation,

Class

B

o

$

10,651

6,925

Live

Nation

Entertainment,

Inc.

o

324,159

142

Madison

Square

Garden

Entertainment

Corporation

o

10,062

110

Match

Group,

Inc.

o

11,297

2,063

Meredith

Corporation

29,625

565

News

Corporation

7,209

3,656

ORBCOMM,

Inc.

o

15,392

15,136

QuinStreet

,

Inc.

o

176,713

1,250

RingCentral,

Inc.

o

362,837

531

Scholastic

Corporation

12,707

1,278

Take-Two

Interactive

Software,

Inc.

o

209,618

1,300

Twitter,

Inc.

o

47,320

1,817

Uber

Technologies,

Inc.

o

54,982

3,232

Verizon

Communications,

Inc.

185,775

273

ViacomCBS

,

Inc.

7,117

2,472

Walt

Disney

Company

289,076

990

Zillow

Group,

Inc.

o

67,409

Total

4,151,110

Consumer

Discretionary

(1.2%)

774

Aaron's,

Inc.

40,387

1,270

Abercrombie

&

Fitch

Company

12,230

1,256

Adient

plc

o

20,900

631

Amazon.com,

Inc.

o

1,996,913

2,865

American

Eagle

Outfitters,

Inc.

28,650

155

American

Public

Education,

Inc.

o

4,512

5,072

Aptiv

plc

394,348

1,811

At

Home

Group,

Inc.

o

22,493

41

AutoZone,

Inc.

o

49,504

1,766

Beazer

Homes

USA,

Inc.

o

19,762

3,495

Bed

Bath

&

Beyond,

Inc.

37,816

653

Big

Lots,

Inc.

25,689

1,552

BJ's

Restaurants,

Inc.

31,133

89

Bloomin

'

Brands,

Inc.

1,025

143

Booking

Holdings,

Inc.

o

237,685

4,246

Bright

Horizons

Family

Solutions,

Inc.

o

455,341

2,067

Burlington

Stores,

Inc.

o

388,596

1,180

Caesars

Entertainment,

Inc.

o

36,639

814

Caleres

,

Inc.

5,136

1,136

Camping

World

Holdings,

Inc.

41,600

2,031

Capri

Holdings,

Ltd.

o

30,424

1,333

Carnival

Corporation

18,502

5,076

Cedar

Fair,

LP

121,012

1,805

Century

Casinos,

Inc.

o

7,274

589

Century

Communities,

Inc.

o

20,980

3,425

Chewy,

Inc.

o

179,778

11,854

Chico's

FAS,

Inc.

15,055

228

Children's

Place,

Inc.

5,565

340

Chipotle

Mexican

Grill,

Inc.

o

392,754

32

Churchill

Downs,

Inc.

4,433

13,031

Cooper-Standard

Holdings,

Inc.

o

139,562

615

Cracker

Barrel

Old

Country

Store,

Inc.

67,939

4,328

Crocs,

Inc.

o

155,548

1,909

Culp,

Inc.

21,190

745

D.R.

Horton,

Inc.

49,289

1,027

Dana,

Inc.

11,739

1,404

Darden

Restaurants,

Inc.

106,564

1,636

Dave

&

Buster's

Entertainment,

Inc.

20,188

408

Deckers

Outdoor

Corporation

o

85,374

753

Denny's

Corporation

o

6,690

Shares

Common

Stock

(10.4%)

Value

Consumer

Discretionary

(1.2%)

-

continued

1,777

Designer

Brands,

Inc.

$

10,502

578

Dick's

Sporting

Goods,

Inc.

26,368

615

Dine

Brands

Global,

Inc.

27,939

811

Domino's

Pizza,

Inc.

313,541

42

Dorman

Products,

Inc.

o

3,433

5,438

Duluth

Holdings,

Inc.

n,o

40,187

2,695

Emerald

Holding,

Inc.

7,330

1,320

Ethan

Allen

Interiors,

Inc.

15,629

1,674

Etsy,

Inc.

o

198,168

1,310

Express,

Inc.

o

1,323

1,033

Extended

Stay

America,

Inc.

11,787

4,590

Five

Below,

Inc.

o

499,897

2,021

Foot

Locker,

Inc.

59,397

1,410

Fossil,

Inc.

o

4,667

121

Fox

Factory

Holding

Corporation

o

10,769

2,416

GameStop

Corporation

o

9,688

1,152

Gap,

Inc.

15,402

1,283

Garrett

Motion,

Inc.

o

7,544

1,237

Genuine

Parts

Company

111,516

571

G-III

Apparel

Group,

Ltd.

o

5,647

2,002

Goodyear

Tire

&

Rubber

Company

18,038

469

Grand

Canyon

Education,

Inc.

o

41,619

2,653

Home

Depot,

Inc.

704,345

222

Hooker

Furniture

Corporation

4,751

490

Hovnanian

Enterprises,

Inc.

o

11,417

300

Jack

in

the

Box,

Inc.

24,633

1,215

KB

Home

40,873

2,537

Knoll,

Inc.

29,708

1,926

Kohl's

Corporation

36,671

746

Kontoor

Brands,

Inc.

14,293

2,459

L

Brands,

Inc.

60,024

1,682

Lear

Corporation

185,659

4,618

Leggett

&

Platt,

Inc.

185,136

86

Lithia

Motors,

Inc.

19,707

895

Lowe's

Companies,

Inc.

133,274

279

Lululemon

Athletica

,

Inc.

o

90,840

3,635

Macy's,

Inc.

22,028

142

Madison

Square

Garden

Sports

Corporation

o

21,824

1,244

Marcus

Corporation

17,180

176

Marriott

Vacations

Worldwide

Corporation

14,900

5,028

Mattel,

Inc.

o

55,861

1,351

McDonald's

Corporation

262,472

12

Mercadolibre

,

Inc.

o

13,495

3,882

Michaels

Companies,

Inc.

o

27,873

928

Modine

Manufacturing

Company

o

5,048

1,013

Mohawk

Industries,

Inc.

o

80,888

4,758

Movado

Group,

Inc.

45,867

143

Netflix,

Inc.

o

69,910

731

NIKE,

Inc.

71,353

1,554

Nordstrom,

Inc.

21,274

2,834

Norwegian

Cruise

Line

Holdings,

Ltd.

o

38,656

108

NVR,

Inc.

o

424,456

728

Office

Depot,

Inc.

16,067

3,169

Ollie's

Bargain

Outlet

Holdings,

Inc.

o

333,062

468

Park

Hotels

&

Resorts,

Inc.

3,870

11,553

Party

City

Holdco,

Inc.

o

18,947

3,422

Penn

National

Gaming,

Inc.

o

115,835

8,973

Planet

Fitness,

Inc.

o

468,391

12,242

Playa

Hotels

and

Resorts

NV

o

44,438

54

Pool

Corporation

17,102

1,962

PulteGroup,

Inc.

85,543

492

PVH

Corporation

23,941

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

212

Shares

Common

Stock

(10.4%)

Value

Consumer

Discretionary

(1.2%)

-

continued

2,881

Qurate

Retail,

Inc.

o

$

31,432

305

Red

Robin

Gourmet

Burgers,

Inc.

o

2,666

4,229

Red

Rock

Resorts,

Inc.

46,350

288

RH

o

82,780

934

Royal

Caribbean

Cruises,

Ltd.

45,495

3,073

Ruth's

Hospitality

Group,

Inc.

20,574

1,156

Sally

Beauty

Holdings,

Inc.

o

13,421

216

SeaWorld

Entertainment,

Inc.

o

3,126

403

Signet

Jewelers,

Ltd.

4,328

2,845

Six

Flags

Entertainment

Corporation

49,475

1,714

Skyline

Corporation

o

48,386

1,737

Sleep

Number

Corporation

o

80,770

730

Sony

Corporation

ADR

56,911

2,361

Standard

Motor

Products,

Inc.

107,378

4,490

Stoneridge,

Inc.

o

93,033

127

Strategic

Education,

Inc.

16,029

3,001

Tailored

Brands,

Inc.

910

4,410

Taylor

Morrison

Home

Corporation

o

103,415

2,682

Tenneco,

Inc.

o

19,874

6,856

Texas

Roadhouse,

Inc.

385,239

1,493

Thor

Industries,

Inc.

170,187

3,636

TJX

Companies,

Inc.

189,036

2,831

Toll

Brothers,

Inc.

108,144

1,224

TopBuild

Corporation

o

161,470

1,435

Tri

Pointe

Homes,

Inc.

o

23,993

267

Tupperware

Brands

Corporation

4,120

1,225

Ulta

Beauty,

Inc.

o

236,413

556

Urban

Outfitters,

Inc.

o

9,196

429

Vail

Resorts,

Inc.

82,381

25

Wayfair,

Inc.

o

6,652

61

Williams-Sonoma,

Inc.

5,314

817

Wingstop

,

Inc.

127,656

328

Workhorse

Group,

Inc.

o

5,091

277

YETI

Holdings,

Inc.

o

13,543

497

Yum!

Brands,

Inc.

45,252

4,706

Zumiez

,

Inc.

o

108,709

Total

13,120,971

Consumer

Staples

(0.4%)

191

Andersons,

Inc.

2,716

1,638

BJ's

Wholesale

Club

Holdings,

Inc.

o

65,602

2,098

Casey's

General

Stores,

Inc.

333,981

356

Central

Garden

&

Pet

Company

o

13,478

8,784

Coca-Cola

Company

414,956

4,144

Colgate-Palmolive

Company

319,917

649

Costco

Wholesale

Corporation

211,269

19,809

Cott

Corporation

n

281,486

3,845

e.l.f

.

Beauty,

Inc.

o

68,672

690

Edgewell

Personal

Care

Company

o

20,624

2,384

Hain

Celestial

Group,

Inc.

o

81,008

1,316

John

B.

Sanfilippo

&

Son,

Inc.

116,032

233

Kimberly-Clark

Corporation

35,425

198

Lamb

Weston

Holdings,

Inc.

11,896

246

McCormick

&

Company,

Inc.

47,945

2,331

Monster

Beverage

Corporation

o

182,937

2,510

PepsiCo,

Inc.

345,527

1,633

Philip

Morris

International,

Inc.

125,431

2,012

Procter

&

Gamble

Company

263,813

542

Seneca

Foods

Corporation

o

21,235

2,355

Simply

Good

Foods

Company

o

56,614

557

Sprouts

Farmers

Markets,

Inc.

o

14,694

638

TreeHouse

Foods,

Inc.

o

27,957

10,140

Turning

Point

Brands,

Inc.

333,403

1,484

Vector

Group,

Ltd.

13,089

Shares

Common

Stock

(10.4%)

Value

Consumer

Staples

(0.4%)

-

continued

2,199

Wal-Mart

Stores,

Inc.

$

284,551

Total

3,694,258

Energy

(0.2%)

4,170

Abraxas

Petroleum

Corporation

o

842

3,678

Antero

Midstream

Corporation

20,854

3,219

Apache

Corporation

49,412

11,603

Archrock

,

Inc.

77,276

1,857

BP

plc

ADR

40,928

4,627

Centennial

Resource

Development,

Inc.

o

3,643

1,216

ChampionX

Corporation

o

11,564

1,516

Chevron

Corporation

127,253

5,450

Cimarex

Energy

Company

133,307

4,572

CNX

Resources

Corporation

o

44,120

2,175

Concho

Resources,

Inc.

114,275

500

ConocoPhillips

18,695

2,338

Continental

Resources,

Inc.

40,424

2,017

Core

Laboratories

NV

43,023

950

Delek

US

Holdings,

Inc.

16,606

6,490

Devon

Energy

Corporation

68,080

3,340

Diamondback

Energy,

Inc.

133,132

8,934

EnLink

Midstream,

LLC

21,888

1,292

Enterprise

Products

Partners,

LP

22,739

2,056

EOG

Resources,

Inc.

96,324

6,045

EQT

Corporation

87,773

4,896

Equitrans

Midstream

Corporation

47,246

359

Evolution

Petroleum

Corporation

941

2,894

Exterran

Corporation

o

14,383

2,423

Exxon

Mobil

Corporation

101,960

4,283

Frank's

International

NV

o

9,765

4,637

Gran

Tierra

Energy,

Inc.

o

1,345

1,261

Halliburton

Company

18,070

10,047

Helmerich

&

Payne,

Inc.

179,138

4,837

Kosmos

Energy,

Ltd.

7,788

2,624

Liberty

Oilfield

Services,

Inc.

14,826

11,760

Marathon

Oil

Corporation

64,562

1,121

Marathon

Petroleum

Corporation

42,822

253

Nabors

Industries,

Ltd.

10,730

2,303

NexTier

Oilfield

Solutions,

Inc.

o

5,804

11,032

Nine

Energy

Service,

Inc.

o

20,520

4,123

Oceaneering

International,

Inc.

o

23,171

338

ONEOK,

Inc.

9,434

7,808

Patterson-UTI

Energy,

Inc.

30,256

1,096

PBF

Energy,

Inc.

9,513

527

PDC

Energy,

Inc.

o

7,515

1,750

Peabody

Energy

Corporation

5,460

634

Pioneer

Natural

Resources

Company

61,447

2,506

Plains

GP

Holdings,

LP

19,898

1,280

ProPetro

Holding

Corporation

o

6,874

5,694

QEP

Resources,

Inc.

8,370

2,588

Range

Resources

Corporation

16,718

1,651

RPC,

Inc.

o

4,903

2,114

Schlumberger,

Ltd.

38,348

5,583

SEACOR

Holdings,

Inc.

o

162,354

758

SM

Energy

Company

2,236

9,219

Southwestern

Energy

Company

o

22,402

2,875

Talos

Energy,

Inc.

o

19,579

1,005

Targa

Resources

Corporation

18,371

7,045

Transocean,

Ltd.

o

14,372

448

Valero

Energy

Corporation

25,191

17,455

WPX

Energy,

Inc.

o

104,206

Total

2,322,676

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

213

Shares

Common

Stock

(10.4%)

Value

Financials

(1.4%)

71

1st

Source

Corporation

$

2,352

1,026

Aflac,

Inc.

36,495

2,580

AG

Mortgage

Investment

Trust,

Inc.

7,198

6,226

Air

Lease

Corporation

163,246

309

Alleghany

Corporation

161,397

2,332

Ally

Financial,

Inc.

46,873

487

American

Equity

Investment

Life

Holding

Company

12,394

1,201

American

Express

Company

112,077

7,952

American

Financial

Group,

Inc.

483,243

761

American

International

Group,

Inc.

24,459

599

Ameriprise

Financial,

Inc.

92,024

1,699

Ameris

Bancorp

39,204

586

Aon

plc

120,259

1,090

Apollo

Commercial

Real

Estate

Finance,

Inc.

10,137

493

Argo

Group

International

Holdings,

Ltd.

16,520

2,528

Arthur

J.

Gallagher

&

Company

271,735

860

Artisan

Partners

Asset

Management,

Inc.

31,158

5,005

Associated

Banc-Corp

64,264

11,957

Assured

Guaranty,

Ltd.

261,021

8,575

Bank

of

America

Corporation

213,346

436

Bank

of

Marin

Bancorp

13,695

4,578

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

119,165

127

Bank

OZK

3,054

1,831

BankFinancial

Corporation

13,348

1,006

BankUnited

,

Inc.

20,261

2,513

Banner

Corporation

89,036

1,921

Berkshire

Hathaway,

Inc.

o

376,093

2,695

Berkshire

Hills

Bancorp,

Inc.

26,842

615

BlackRock,

Inc.

353,631

795

Blackstone

Mortgage

Trust,

Inc.

19,136

475

BOK

Financial

Corporation

26,457

9,058

Boston

Private

Financial

Holdings,

Inc.

53,306

11,656

Bridgewater

Bancshares,

Inc.

o

108,284

1,283

Brighthouse

Financial,

Inc.

o

36,360

5,278

BrightSphere

Investment

Group

70,936

716

Brown

&

Brown,

Inc.

32,557

755

Byline

Bancorp,

Inc.

9,785

1,079

Capital

One

Financial

Corporation

68,840

15

Cboe

Global

Markets,

Inc.

1,315

888

Central

Pacific

Financial

Corporation

13,817

1,304

Charles

Schwab

Corporation

43,228

419

Chubb,

Ltd.

53,314

530

Cincinnati

Financial

Corporation

41,303

5,093

CIT

Group,

Inc.

96,614

2,856

Citigroup,

Inc.

142,829

3,758

Citizens

Financial

Group,

Inc.

93,236

426

CME

Group,

Inc.

70,793

996

Cohen

&

Steers,

Inc.

59,939

8,665

Colony

Capital,

Inc.

16,637

4,138

Columbia

Banking

System,

Inc.

119,712

4,995

Comerica,

Inc.

192,407

3,171

Community

Trust

Bancorp,

Inc.

97,064

3,009

Cullen/Frost

Bankers,

Inc.

216,829

80

Diamond

Hill

Investment

Group,

Inc.

9,122

1,815

Discover

Financial

Services

89,715

1,116

East

West

Bancorp,

Inc.

38,681

1,357

Ellington

Residential

Mortgage

REIT

14,995

Shares

Common

Stock

(10.4%)

Value

Financials

(1.4%)

-

continued

603

Encore

Capital

Group,

Inc.

o

$

22,028

816

Enterprise

Financial

Services

Corporation

23,713

2,095

Essent

Group,

Ltd.

75,064

2,450

Evercore

,

Inc.

135,485

26,898

Everi

Holdings,

Inc.

o

152,781

701

FBL

Financial

Group,

Inc.

24,381

237

Federal

Agricultural

Mortgage

Corporation

14,104

811

Fifth

Third

Bancorp

16,106

1,980

Financial

Institutions,

Inc.

29,245

852

First

American

Financial

Corporation

43,461

109

First

Bancshares,

Inc.

2,170

4,315

First

Busey

Corporation

73,786

268

First

Citizens

BancShares

,

Inc.

114,133

1,460

First

Financial

Corporation

48,808

8,724

First

Interstate

BancSystem

,

Inc.

253,956

161

First

Mid-Illinois

Bancshares,

Inc.

3,930

2,372

First

Midwest

Bancorp,

Inc.

28,784

254

First

of

Long

Island

Corporation

3,787

1,388

First

Republic

Bank

156,122

2,145

Glacier

Bancorp,

Inc.

75,740

104

Goldman

Sachs

Group,

Inc.

20,588

3,612

Granite

Point

Mortgage

Trust,

Inc.

24,525

3,303

Great

Southern

Bancorp,

Inc.

119,139

2,616

Great

Western

Bancorp,

Inc.

34,008

2,169

Hamilton

Lane,

Inc.

156,689

5,211

Hancock

Whitney

Corporation

99,322

190

Hanmi

Financial

Corporation

1,754

1,917

Hanover

Insurance

Group,

Inc.

195,304

1,565

Hartford

Financial

Services

Group,

Inc.

66,231

6,136

Heartland

Financial

USA,

Inc.

191,689

16,953

Heritage

Commerce

Corporation

114,941

2,662

Hometrust

Bancshares,

Inc.

38,386

3,296

Horizon

Bancorp,

Inc.

33,323

1,208

Houlihan

Lokey

,

Inc.

66,198

3,199

Independent

Bank

Corporation

44,674

3,599

Interactive

Brokers

Group,

Inc.

178,510

718

International

Bancshares

Corporation

21,842

2,102

J.P.

Morgan

Chase

&

Company

203,137

67

Janus

Henderson

Group

plc

1,400

470

Julius

Baer

Group,

Ltd.

20,633

2,455

Kemper

Corporation

192,767

5,750

KeyCorp

69,058

1,235

Lakeland

Bancorp,

Inc.

12,572

926

Loews

Corporation

33,716

2,260

M&T

Bank

Corporation

239,447

60

Markel

Corporation

o

62,672

23

MarketAxess

Holdings,

Inc.

11,884

609

Marsh

&

McLennan

Companies,

Inc.

71,009

538

Mercantile

Bank

Corporation

11,454

5,200

Meridian

Bancorp,

Inc.

59,306

893

MetLife,

Inc.

33,800

4,475

MidWestOne

Financial

Group,

Inc.

80,908

1,393

Morgan

Stanley

68,090

67

Morningstar,

Inc.

11,259

1,694

Mr.

Cooper

Group,

Inc.

o

27,663

859

MSCI,

Inc.

322,967

37

National

Western

Life

Group,

Inc.

7,207

200

NBT

Bancorp,

Inc.

5,958

2,555

Northern

Trust

Corporation

200,184

618

Northwest

Bancshares,

Inc.

6,087

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

214

Shares

Common

Stock

(10.4%)

Value

Financials

(1.4%)

-

continued

30

OFG

Bancorp

$

392

578

Old

Republic

International

Corporation

9,288

1,705

Old

Second

Bancorp,

Inc.

14,186

1,392

PacWest

Bancorp

25,439

57

Park

National

Corporation

4,888

177

Peapack

-Gladstone

Financial

Corporation

2,882

504

Peoples

Bancorp,

Inc.

10,115

9,782

Popular,

Inc.

363,010

4,189

Premier

Financial

Corporation

74,062

1,982

Primerica,

Inc.

237,166

4,814

Prosight

Global,

Inc.

o

37,838

294

Provident

Financial

Services,

Inc.

4,013

2,314

QCR

Holdings,

Inc.

69,142

4,645

Radian

Group,

Inc.

69,303

4,398

Raymond

James

Financial,

Inc.

305,573

4,562

Redwood

Trust,

Inc.

32,527

2,620

Reinsurance

Group

of

America,

Inc.

223,355

1,146

Renasant

Corporation

26,622

183

S&P

Global,

Inc.

64,096

303

Safety

Insurance

Group,

Inc.

22,928

214

Sandy

Spring

Bancorp,

Inc.

4,948

5,773

Santander

Consumer

USA

Holdings,

Inc.

105,992

8,995

Seacoast

Banking

Corporation

of

Florida

o

169,826

4,455

SEI

Investments

Company

233,130

1,537

Selective

Insurance

Group,

Inc.

83,521

35

Signature

Bank

3,589

1,549

SLM

Corporation

10,487

2,583

Starwood

Property

Trust,

Inc.

38,616

1,780

State

Auto

Financial

Corporation

27,608

1,305

SVB

Financial

Group

o

292,672

16,697

Synovus

Financial

Corporation

336,445

2,393

T.

Rowe

Price

Group,

Inc.

330,473

337

TCF

Financial

Corporation

9,264

720

Territorial

Bancorp,

Inc.

15,818

1,480

Texas

Capital

Bancshares,

Inc.

o

49,166

886

TMX

Group,

Ltd.

90,568

34

Torchmark

Corporation

2,706

3,320

TPG

RE

Finance

Trust,

Inc.

28,818

1,376

TriCo

Bancshares

38,528

6,834

Triumph

Bancorp,

Inc.

o

179,051

1,130

Truist

Financial

Corporation

42,330

4,373

TrustCo

Bank

Corporation

25,320

2,911

Two

Harbors

Investment

Corporation

15,807

212

Univest

Financial

Corporation

3,241

256

Walker

&

Dunlop,

Inc.

12,905

1,015

Washington

Trust

Bancorp,

Inc.

33,840

5,679

Webster

Financial

Corporation

154,866

4,621

Wells

Fargo

&

Company

112,105

946

WesBanco

,

Inc.

18,759

6,723

Western

Alliance

Bancorp

241,692

5,089

Western

Asset

Mortgage

Capital

Corporation

10,738

89

Westwood

Holdings

Group,

Inc.

1,011

5,764

Wintrust

Financial

Corporation

246,699

4,673

Zions

Bancorporations

NA

151,732

Total

14,198,719

Health

Care

(1.7%)

3,408

Abbott

Laboratories

342,981

681

AbbVie,

Inc.

64,634

Shares

Common

Stock

(10.4%)

Value

Health

Care

(1.7%)

-

continued

391

Acadia

Healthcare

Company,

Inc.

o

$

11,656

6,936

ACADIA

Pharmaceuticals,

Inc.

o

288,330

186

Acceleron

Pharma,

Inc.

o

18,446

2,857

ADMA

Biologics,

Inc.

o

10,199

612

Adverum

Biotechnologies,

Inc.

o

10,263

1,599

Agile

Therapeutics,

Inc.

o

3,997

2,039

Agilent

Technologies,

Inc.

196,417

3,087

Agios

Pharmaceuticals,

Inc.

o

139,903

825

Akebia

Therapeutics,

Inc.

o

9,215

327

Alexion

Pharmaceuticals,

Inc.

o

33,514

361

Align

Technology,

Inc.

o

106,069

613

Alkermes

plc

o

11,040

772

AmerisourceBergen

Corporation

77,347

1,803

Amgen,

Inc.

441,140

3,474

AMN

Healthcare

Services,

Inc.

o

190,862

1,261

AnaptysBio

,

Inc.

o

22,648

1,134

Anavex

Life

Sciences

Corporation

o

4,785

281

Anthem,

Inc.

76,938

484

Arena

Pharmaceuticals,

Inc.

o

29,713

605

Argenx

SE

ADR

o

139,229

366

Assembly

Biosciences,

Inc.

o

8,125

782

Atara

Biotherapeutics

,

Inc.

o

9,689

325

Athenex

,

Inc.

o

3,448

36

Atrion

Corporation

22,324

210

AVROBIO,

Inc.

o

3,559

2,608

Axonics

Modulation

Technologies,

Inc.

n,o

110,475

177

Axsome

Therapeutics,

Inc.

o

12,625

1,498

Bausch

Health

Companies,

Inc.

o

27,368

1,389

Baxter

International,

Inc.

119,982

562

Becton,

Dickinson

and

Company

158,113

157

Biogen,

Inc.

o

43,126

1,827

Biohaven

Pharmaceutical

Holding

Company,

Ltd.

o

117,001

298

Bio-Rad

Laboratories,

Inc.

o

156,417

1,656

Bio-

Techne

Corporation

455,665

467

Bluebird

Bio,

Inc.

o

28,347

120

Blueprint

Medicines

Corporation

o

8,782

293

Bruker

Corporation

13,074

638

Cantel

Medical

Corporation

30,145

7,735

Catalent

,

Inc.

o

675,575

990

Centene

Corporation

o

64,597

1,069

Cerner

Corporation

74,242

857

Charles

River

Laboratories

International,

Inc.

o

170,534

260

Chemed

Corporation

127,969

356

Cigna

Holding

Company

61,478

917

Clovis

Oncology,

Inc.

o

5,309

894

Community

Health

Systems,

Inc.

o

4,452

2,739

CryoLife

,

Inc.

o

53,164

812

CVS

Health

Corporation

51,107

724

CytomX

Therapeutics,

Inc.

o

5,075

738

Danaher

Corporation

150,404

196

Deciphera

Pharmaceuticals,

Inc.

o

9,089

1,160

Dexcom

,

Inc.

o

505,226

2,088

Dynavax

Technologies

Corporation

o

16,934

1,293

Edwards

Lifesciences

Corporation

o

101,384

1,142

Eli

Lilly

and

Company

171,631

515

Encompass

Health

Corporation

35,061

1,068

Gilead

Sciences,

Inc.

74,258

901

GlaxoSmithKline

plc

ADR

36,328

1,292

Global

Blood

Therapeutics,

Inc.

o

87,184

5,593

Guardant

Health,

Inc.

o

476,412

2,025

Haemonetics

Corporation

o

177,511

7,940

Halozyme

Therapeutics,

Inc.

o

215,889

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

215

Shares

Common

Stock

(10.4%)

Value

Health

Care

(1.7%)

-

continued

340

HCA

Healthcare,

Inc.

$

43,058

344

HealthStream

,

Inc.

o

7,553

1,843

Hill-Rom

Holdings,

Inc.

179,176

119

Humana,

Inc.

46,702

9

ICU

Medical,

Inc.

o

1,654

83

IDEXX

Laboratories,

Inc.

o

33,013

3,178

ImmunoGen

,

Inc.

o

13,062

1,373

Immunomedics

,

Inc.

o

57,982

349

Incyte

Corporation

o

34,467

530

Insmed

,

Inc.

o

13,844

1,296

Inspire

Medical

Systems,

Inc.

o

128,771

1,565

Insulet

Corporation

o

318,258

427

Intuitive

Surgical,

Inc.

o

292,683

481

Invitae

Corporation

o

14,045

730

Iovance

Biotherapeutics

,

Inc.

o

21,221

1,496

IQVIA

Holding,

Inc.

o

236,951

309

Jazz

Pharmaceuticals,

Inc.

o

33,449

5,004

Johnson

&

Johnson

729,383

1,651

Kadmon

Holdings,

Inc.

o

6,043

516

Laboratory

Corporation

of

America

Holdings

o

99,547

5,228

LHC

Group,

Inc.

o

1,020,035

403

Ligand

Pharmaceuticals,

Inc.

n,o

47,224

777

MacroGenics

,

Inc.

o

19,736

100

Masimo

Corporation

o

22,012

4,465

Medtronic

plc

430,783

3,067

Merck

&

Company,

Inc.

246,096

480

Mersana

Therapeutics,

Inc.

o

9,542

201

Mesa

Laboratories,

Inc.

47,625

248

Mettler

-Toledo

International,

Inc.

o

231,880

76

Mirati

Therapeutics,

Inc.

o

9,220

1,026

Molina

Healthcare,

Inc.

o

189,502

203

Momenta

Pharmaceuticals,

Inc.

o

5,986

1,372

MyoKardia

,

Inc.

o

123,658

843

Myovant

Sciences,

Ltd.

o

12,814

2,154

Natera

,

Inc.

o

103,435

1,597

National

Healthcare

Corporation

94,734

1,272

Nektar

Therapeutics

o

28,188

143

Neogen

Corporation

o

10,978

1,193

Neurocrine

Biosciences,

Inc.

o

143,589

2,962

Nevro

Corporation

o

393,828

457

Novo

Nordisk

AS

ADR

29,856

11,576

Optinose

,

Inc.

o

58,980

686

Orthifix

Medical,

Inc.

o

21,067

591

PerkinElmer,

Inc.

70,276

219

Pfizer,

Inc.

8,427

3,228

PRA

Health

Sciences,

Inc.

o

343,976

687

Precision

BioSciences

,

Inc.

o

4,369

687

Quest

Diagnostics,

Inc.

87,297

215

Reata

Pharmaceuticals,

Inc.

o

31,756

750

Repligen

Corporation

o

113,183

68

Replimune

Group,

Inc.

o

1,358

490

Sage

Therapeutics,

Inc.

o

22,329

700

Sarepta

Therapeutics,

Inc.

o

107,464

2,604

Silk

Road

Medical,

Inc.

o

120,982

1,632

Spectrum

Pharmaceuticals,

Inc.

o

4,880

334

STERIS

plc

53,316

1,637

Stryker

Corporation

316,432

129

Surmodics

,

Inc.

o

6,100

4,378

Syneos

Health,

Inc.

o

273,143

5,370

Tactile

Systems

Technology,

Inc.

n,o

220,063

1,054

Teleflex,

Inc.

393,247

1,446

Tenet

Healthcare

Corporation

o

38,232

1,344

Thermo

Fisher

Scientific,

Inc.

556,349

731

Tilray

,

Inc.

o

5,395

Shares

Common

Stock

(10.4%)

Value

Health

Care

(1.7%)

-

continued

342

U.S.

Physical

Therapy,

Inc.

$

28,407

292

uniQure

B.V.

o

12,185

271

United

Therapeutics

Corporation

o

30,208

1,896

UnitedHealth

Group,

Inc.

574,071

350

Universal

Health

Services,

Inc.

38,465

1,762

Varian

Medical

Systems,

Inc.

o

251,473

3,276

VBI

Vaccines,

Inc.

o

13,333

2,463

Veeva

Systems,

Inc.

o

651,636

337

Vertex

Pharmaceuticals,

Inc.

o

91,664

231

Viking

Therapeutics,

Inc.

o

1,622

356

Waters

Corporation

o

75,881

74

West

Pharmaceutical

Services,

Inc.

19,896

167

Zimmer

Biomet

Holdings,

Inc.

22,522

4,101

Zoetis,

Inc.

622,040

Total

17,732,011

Industrials

(1.5%)

389

3M

Company

58,533

4,318

A.O.

Smith

Corporation

207,869

117

Acuity

Brands,

Inc.

11,595

856

AECOM

o

30,979

883

Aegion

Corporation

o

13,616

2,238

Aerojet

Rocketdyne

Holdings,

Inc.

o

92,317

4,404

AGCO

Corporation

289,034

1,973

Allegion

plc

196,235

8,794

Altra

Industrial

Motion

Corporation

301,019

5

AMERCO

1,589

2,079

American

Airlines

Group,

Inc.

23,118

5,564

AMETEK,

Inc.

518,843

1,310

Arcosa

,

Inc.

55,308

7,262

ASGN,

Inc.

o

497,156

674

Avis

Budget

Group,

Inc.

o

17,457

4,473

AZZ,

Inc.

141,257

404

Bloom

Energy

Corporation

o

4,913

552

Boeing

Company

87,216

3,677

BWX

Technologies,

Inc.

200,470

495

Carlisle

Companies,

Inc.

58,945

1,822

Carrier

Global

Corporation

49,631

1,297

Casella

Waste

Systems,

Inc.

o

71,867

1,288

Caterpillar,

Inc.

171,149

6,232

CBIZ,

Inc.

o

150,690

1,626

Chart

Industries,

Inc.

o

111,430

1,936

Copart

,

Inc.

o

180,532

907

Cornerstone

Building

Brands,

Inc.

o

5,143

657

CRA

International,

Inc.

27,443

4,141

Crane

Company

234,256

2,579

CSW

Industrials,

Inc.

172,251

432

CSX

Corporation

30,819

6,053

Curtiss-Wright

Corporation

539,443

1,223

Delta

Air

Lines,

Inc.

30,538

648

Douglas

Dynamics,

Inc.

22,907

5,124

EMCOR

Group,

Inc.

350,994

4,424

Emerson

Electric

Company

274,332

1,448

Encore

Wire

Corporation

72,675

1,658

Expeditors

International

of

Washington,

Inc.

140,118

3,418

Fluor

Corporation

34,829

3,223

Forrester

Research,

Inc.

o

113,160

2,155

FuelCell

Energy,

Inc.

o

4,806

1,016

Generac

Holdings,

Inc.

o

160,101

2,302

General

Dynamics

Corporation

337,795

1,430

Gorman-Rupp

Company

43,272

428

Heico

Corporation

41,139

3,775

Helios

Technologies,

Inc.

142,808

2,665

Honeywell

International,

Inc.

398,071

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

216

Shares

Common

Stock

(10.4%)

Value

Industrials

(1.5%)

-

continued

1,688

Hubbell,

Inc.

$

227,829

213

Huntington

Ingalls

Industries,

Inc.

37,000

512

ICF

International,

Inc.

34,616

4,193

IDEX

Corporation

691,090

564

Illinois

Tool

Works,

Inc.

104,334

341

Ingersoll

-

Rand,

Inc.

o

10,772

698

John

Bean

Technologies

Corporation

65,444

1,756

Johnson

Controls

International

plc

67,571

240

Kansas

City

Southern

41,244

38

Landstar

System,

Inc.

4,628

329

Lennox

International,

Inc.

88,218

6,466

Lincoln

Electric

Holdings,

Inc.

584,462

215

Linde

Public

Limited

Company

52,699

583

Lockheed

Martin

Corporation

220,939

2,826

Manpower,

Inc.

194,401

508

Masonite

International

Corporation

o

42,850

22,864

McDermott

International,

Ltd.

o

81,167

591

Mercury

Systems,

Inc.

o

45,761

16,387

Meritor,

Inc.

o

372,804

2,893

Middleby

Corporation

n,o

240,293

909

MSC

Industrial

Direct

Company,

Inc.

60,003

1,101

NAPCO

Security

Technologies,

Inc.

o

29,044

622

Nordson

Corporation

120,438

208

Norfolk

Southern

Corporation

39,980

131

Northrop

Grumman

Corporation

42,576

2,157

Old

Dominion

Freight

Line,

Inc.

394,343

416

Otis

Worldwide

Corporation

26,100

1,337

Parker-Hannifin

Corporation

239,216

6,519

Primoris

Services

Corporation

104,500

1,186

Quad/Graphics,

Inc.

3,688

6,897

Raven

Industries,

Inc.

149,044

832

Raytheon

Technologies

Corporation

47,158

1,881

Regal-Beloit

Corporation

172,996

201

Republic

Services,

Inc.

17,537

6,616

Ritchie

Brothers

Auctioneers,

Inc.

306,188

1,336

Rockwell

Automation,

Inc.

291,435

938

Roper

Industries,

Inc.

405,638

1,093

Ryder

System,

Inc.

40,037

2,225

Saia,

Inc.

o

265,776

709

Simpson

Manufacturing

Company,

Inc.

68,461

557

SiteOne

Landscape

Supply,

Inc.

o

71,313

8,296

Southwest

Airlines

Company

256,263

327

SP

Plus

Corporation

o

5,196

1,039

Spirit

Aerosystems

Holdings,

Inc.

20,333

534

Spirit

Airlines,

Inc.

o

8,443

325

SPX

FLOW,

Inc.

o

13,026

3,762

Standex

International

Corporation

201,455

3,880

Summit

Materials,

Inc.

o

57,114

557

Teledyne

Technologies,

Inc.

o

170,832

527

Thermon

Group

Holdings,

Inc.

o

7,141

1,579

Toro

Company

112,662

1,989

Trex

Company,

Inc.

o

277,127

5,269

TriMas

Corporation

o

123,295

541

UniFirst

Corporation

100,886

1,417

Union

Pacific

Corporation

245,637

1,319

United

Airlines

Holdings,

Inc.

o

41,390

3,567

United

Rentals,

Inc.

o

554,205

2,661

Valmont

Industries,

Inc.

322,513

1,859

Verisk

Analytics,

Inc.

350,812

1,076

Waste

Connections,

Inc.

110,150

Shares

Common

Stock

(10.4%)

Value

Industrials

(1.5%)

-

continued

469

Watsco

,

Inc.

$

110,717

3,515

Willdan

Group,

Inc.

o

86,680

1,130

XPO

Logistics,

Inc.

o

84,773

Total

16,083,911

Information

Technology

(2.4%)

2,098

Accenture

plc

471,588

775

Adobe,

Inc.

o

344,348

787

ADTRAN,

Inc.

9,775

1,646

Advanced

Energy

Industries,

Inc.

o

121,096

925

Advanced

Micro

Devices,

Inc.

o

71,623

4,974

Agilysys

,

Inc.

o

104,255

1,322

Akamai

Technologies,

Inc.

o

148,646

1,268

Alliance

Data

Systems

Corporation

56,248

658

Alteryx

,

Inc.

o

115,472

668

American

Software,

Inc.

11,002

7,262

Amphenol

Corporation

768,029

285

Analog

Devices,

Inc.

32,732

5,046

Anaplan,

Inc.

o

229,139

773

ANSYS,

Inc.

o

240,094

5,350

Apple,

Inc.

2,273,964

464

Aspen

Technology,

Inc.

o

45,129

1,300

Atlassian

Corporation

plc

o

229,645

2,557

Automatic

Data

Processing,

Inc.

339,851

1,153

Avalara,

Inc.

o

155,021

895

Avnet,

Inc.

23,914

1,269

Bandwidth,

Inc.

n,o

183,726

3,345

Benchmark

Electronics,

Inc.

68,104

3,108

Blackline,

Inc.

o

276,332

22

Broadcom,

Ltd.

6,968

1,225

Broadridge

Financial

Solutions,

Inc.

164,566

219

CACI

International,

Inc.

o

45,513

4,810

CDK

Global,

Inc.

218,663

986

CDW

Corporation

114,622

100

CEVA,

Inc.

o

4,020

12,229

Change

Healthcare,

Inc.

o

142,590

3,913

Ciena

Corporation

o

232,863

9,962

Cisco

Systems,

Inc.

469,210

1,032

Cognex

Corporation

69,010

1,519

CommScope

Holding

Company,

Inc.

o

14,096

3,504

Computer

Services,

Inc.

200,604

1,808

Coupa

Software,

Inc.

o

554,062

1,343

Cree,

Inc.

o

92,560

2,274

CTS

Corporation

45,162

1,628

Descartes

Systems

Group,

Inc.

o

91,705

2,542

DocuSign,

Inc.

o

551,182

7,828

Dolby

Laboratories,

Inc.

544,829

314

Domo,

Inc.

o

10,104

1,970

Dropbox,

Inc.

o

44,817

634

DSP

Group,

Inc.

o

9,415

5,254

Elastic

NV

o

505,382

1,071

Endava

plc

ADR

o

55,317

438

EPAM

Systems,

Inc.

o

127,055

1,073

ePlus

,

Inc.

o

79,981

3,188

Euronet

Worldwide,

Inc.

o

306,494

3,690

Eventbrite,

Inc.

o

31,439

1,587

ExlService

Holdings,

Inc.

o

101,663

334

eXp

World

Holdings,

Inc.

o

6,637

637

F5

Networks,

Inc.

o

86,568

160

Fair

Isaac

Corporation

o

70,270

1,428

Five9,

Inc.

o

172,531

194

FLIR

Systems,

Inc.

8,082

611

Gartner,

Inc.

o

76,155

2,627

Global

Payments,

Inc.

467,659

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

217

Shares

Common

Stock

(10.4%)

Value

Information

Technology

(2.4%)

-

continued

2,436

Guidewire

Software,

Inc.

o

$

286,620

1,722

Health

Catalyst,

Inc.

n,o

60,098

1,183

II-VI,

Inc.

o

60,002

656

Inphi

Corporation

o

85,713

3,528

Intel

Corporation

168,391

595

InterDigital

,

Inc.

35,712

767

International

Business

Machines

Corporation

94,295

1,068

Intuit,

Inc.

327,203

554

Jack

Henry

&

Associates,

Inc.

98,778

1,997

Juniper

Networks,

Inc.

50,684

273

KLA-Tencor

Corporation

54,554

892

Lam

Research

Corporation

336,427

7,262

Lattice

Semiconductor

Corporation

o

225,776

979

Littelfuse

,

Inc.

173,919

3,714

Lumentum

Holdings,

Inc.

o

344,771

752

ManTech

International

Corporation

52,324

2,319

MasterCard,

Inc.

715,481

3,325

Medallia

,

Inc.

o

102,177

1,246

Methode

Electronics,

Inc.

35,137

9,604

Microsoft

Corporation

1,968,916

1,168

MicroStrategy

,

Inc.

o

144,739

3,027

MKS

Instruments,

Inc.

385,761

1,093

MoneyGram

International,

Inc.

o

3,804

3,666

Monolithic

Power

Systems,

Inc.

971,527

1,211

Motorola

Solutions,

Inc.

169,298

2,081

MTS

Systems

Corporation

38,603

6,496

National

Instruments

Corporation

230,608

62

NetApp,

Inc.

2,747

1,339

Nice,

Ltd.

ADR

o

274,816

1,064

Nova

Measuring

Instruments,

Ltd.

o

54,690

562

Novanta

,

Inc.

o

58,268

8,152

Nuance

Communications,

Inc.

o

222,957

575

NVIDIA

Corporation

244,139

3,547

Oracle

Corporation

196,681

1,359

Palo

Alto

Networks,

Inc.

o

347,795

874

Paychex,

Inc.

62,858

827

PayPal

Holdings,

Inc.

o

162,150

2,017

Plexus

Corporation

o

149,843

620

Progress

Software

Corporation

21,613

574

Proofpoint

,

Inc.

o

66,395

1,095

Q2

Holdings,

Inc.

o

102,985

1,141

QAD,

Inc.

45,081

461

QUALCOMM,

Inc.

48,686

164

Qualys

,

Inc.

o

20,251

709

Rogers

Corporation

o

84,506

11,539

SailPoint

Technologies

Holdings,

Inc.

o

363,478

206

Salesforce.com,

Inc.

o

40,139

50

Samsung

Electronics

Company,

Ltd.

GDR

60,635

1,299

ScanSource

,

Inc.

o

29,812

468

Semtech

Corporation

o

26,082

1,639

ServiceNow

,

Inc.

o

719,849

565

Silicon

Laboratories,

Inc.

o

56,788

59

Skyworks

Solutions,

Inc.

8,589

558

Square,

Inc.

o

72,456

10,035

STMicroelectronics

NV

ADR

n

280,378

2,731

Synopsys,

Inc.

o

544,070

994

TE

Connectivity,

Ltd.

88,536

816

Teradyne,

Inc.

72,591

4,202

Texas

Instruments,

Inc.

535,965

42

Tyler

Technologies,

Inc.

o

15,004

1,093

VeriSign,

Inc.

o

231,366

4,696

Virtusa

Corporation

o

190,658

Shares

Common

Stock

(10.4%)

Value

Information

Technology

(2.4%)

-

continued

1,971

Visa,

Inc.

$

375,278

170

VMware,

Inc.

o

23,836

1,131

WEX,

Inc.

o

179,116

2,122

Zscaler

,

Inc.

o

275,542

Total

25,619,474

Materials

(0.4%)

1,126

AdvanSix

,

Inc.

o

14,019

1,272

AptarGroup,

Inc.

146,534

586

Avery

Dennison

Corporation

66,417

1,260

Axalta

Coating

Systems,

Ltd.

o

27,972

67

Balchem

Corporation

6,717

803

Ball

Corporation

59,125

3,462

Boise

Cascade

Company

161,295

882

Cabot

Corporation

32,175

394

Celanese

Corporation

38,297

1,324

CF

Industries

Holdings,

Inc.

41,481

3,421

Chemours

Company

63,391

3,996

Eastman

Chemical

Company

298,222

1,415

Ecolab,

Inc.

264,718

14,901

Element

Solutions,

Inc.

o

161,825

3,560

Ferroglobe

Representation

&

Warranty

Insurance

Trust

c,o

0

540

Hecla

Mining

Company

2,981

671

Ingevity

Corporation

o

39,240

2,180

Innospec

,

Inc.

163,871

34,217

Ivanhoe

Mines,

Ltd.

o

120,575

2,573

Kaiser

Aluminum

Corporation

159,397

803

Kraton

Performance

Polymers,

Inc.

o

10,559

16,935

Louisiana-Pacific

Corporation

536,331

1,746

Martin

Marietta

Materials,

Inc.

361,736

1,500

Materion

Corporation

86,130

1,230

Minerals

Technologies,

Inc.

57,662

3,452

Myers

Industries,

Inc.

51,987

2,067

Neenah,

Inc.

92,209

1,486

Nucor

Corporation

62,338

1,348

Olin

Corporation

15,152

385

Olympic

Steel,

Inc.

4,073

983

PPG

Industries,

Inc.

105,820

947

Quaker

Chemical

Corporation

183,718

530

Reliance

Steel

&

Aluminum

Company

52,078

428

RPM

International,

Inc.

34,921

1,567

Ryerson

Holding

Corporation

o

8,822

948

Sensient

Technologies

Corporation

49,495

328

Sherwin-Williams

Company

212,518

5,033

Steel

Dynamics,

Inc.

137,955

2,270

UFP

Technologies,

Inc.

o

97,928

1,961

United

States

Lime

&

Minerals,

Inc.

176,902

1,416

United

States

Steel

Corporation

9,431

325

W.

R.

Grace

&

Company

14,992

336

Worthington

Industries,

Inc.

12,573

Total

4,243,582

Real

Estate

(0.7%)

7,499

Agree

Realty

Corporation

502,208

314

Alexandria

Real

Estate

Equities,

Inc.

55,751

4,432

American

Campus

Communities,

Inc.

157,956

222

American

Tower

Corporation

58,029

2,800

Apartment

Investment

&

Management

Company

108,696

1,917

Armada

Hoffler

Properties,

Inc.

18,480

529

Ashford

Hospitality

Trust,

Inc.

2,074

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

218

Shares

Common

Stock

(10.4%)

Value

Real

Estate

(0.7%)

-

continued

171

AvalonBay

Communities,

Inc.

$

26,184

95

BBX

Capital

Corporation

1,322

35

Bluerock

Residential

Growth

REIT,

Inc.

253

3,493

Camden

Property

Trust

317,199

1,896

CareTrust

REIT,

Inc.

34,166

5,337

CBL

&

Associates

Properties,

Inc.

o

976

6,767

CBRE

Group,

Inc.

o

296,462

5,862

Cedar

Realty

Trust,

Inc.

4,769

897

City

Office

REIT,

Inc.

7,759

2,546

Colliers

International

Group,

Inc.

n

137,509

1,066

Colony

Credit

Real

Estate,

Inc.

6,716

866

Columbia

Property

Trust,

Inc.

10,357

68

Community

Healthcare

Trust,

Inc.

3,110

754

Corepoint

Lodging,

Inc.

4,215

790

CoreSite

Realty

Corporation

101,949

607

CoStar

Group,

Inc.

o

515,804

348

CyrusOne

,

Inc.

29,030

252

Digital

Realty

Trust,

Inc.

40,456

2,182

Diversified

Healthcare

Trust

8,499

940

Douglas

Emmett,

Inc.

27,392

1,298

Duke

Realty

Corporation

52,167

245

Easterly

Government

Properties,

Inc.

5,990

649

EastGroup

Properties,

Inc.

86,096

1,207

EPR

Properties

34,556

1,166

Equity

Lifestyle

Properties,

Inc.

79,661

3,790

Equity

Residential

203,258

8,926

Essential

Properties

Realty

Trust,

Inc.

143,709

868

Essex

Property

Trust,

Inc.

191,602

998

Farmland

Partners,

Inc.

6,896

8,949

First

Industrial

Realty

Trust,

Inc.

393,040

803

FirstService

Corporation

95,999

2,733

Four

Corners

Property

Trust,

Inc.

68,872

630

Franklin

Street

Properties

Corporation

3,308

1,751

Gaming

and

Leisure

Properties,

Inc.

63,404

2,055

Getty

Realty

Corporation

60,890

876

Gladstone

Commercial

Corporation

15,943

2,154

Healthcare

Realty

Trust,

Inc.

63,112

2,139

Healthcare

Trust

of

America,

Inc.

59,058

3,679

Host

Hotels

&

Resorts,

Inc.

39,660

620

Hudson

Pacific

Properties,

Inc.

14,613

1,436

Industrial

Logistics

Properties

Trust

30,314

587

Innovative

Industrial

Properties,

Inc.

61,183

515

Investors

Real

Estate

Trust

37,235

725

Jones

Lang

LaSalle,

Inc.

71,710

6,378

Kilroy

Realty

Corporation

371,646

593

Lamar

Advertising

Company

38,978

1,548

Lexington

Realty

Trust

17,957

9,684

Medical

Properties

Trust,

Inc.

194,939

306

MGM

Growth

Properties

LLC

8,366

245

National

Health

Investors,

Inc.

15,190

3,412

National

Retail

Properties,

Inc.

120,955

14,542

National

Storage

Affiliates

Trust

448,184

5,696

New

Residential

Investment

Corporation

45,169

1,680

New

Senior

Investment

Group,

Inc.

5,712

1,176

NexPoint

Residential

Trust,

Inc.

44,958

1,445

Omega

Healthcare

Investors,

Inc.

46,789

760

One

Liberty

Properties,

Inc.

12,897

928

Physicians

Realty

Trust

16,741

Shares

Common

Stock

(10.4%)

Value

Real

Estate

(0.7%)

-

continued

440

Plymouth

Industrial

REIT,

Inc.

$

5,839

745

PotlatchDeltic

Corporation

31,893

1,863

Preferred

Apartment

Communities,

Inc.

13,469

309

PS

Business

Parks,

Inc.

42,627

570

QTS

Realty

Trust,

Inc.

41,012

2,957

Rayonier,

Inc.

REIT

82,145

3,774

Retail

Properties

of

America,

Inc.

24,003

1,622

Rexford

Industrial

Realty,

Inc.

76,120

129

RMR

Group,

Inc.

3,710

5,634

Sabra

Health

Care

REIT,

Inc.

83,045

839

SBA

Communications

Corporation

261,382

9,585

Service

Properties

Trust

64,220

1,382

Spirit

Realty

Capital,

Inc.

47,624

1,635

STAG

Industrial,

Inc.

53,301

2,499

Store

Capital

Corporation

59,201

19,808

Sunstone

Hotel

Investors,

Inc.

148,164

1,416

Terreno

Realty

Corporation

86,036

4,680

UDR,

Inc.

169,416

810

UMH

Properties,

Inc.

9,963

4,961

Uniti

Group,

Inc.

49,114

53

Universal

Health

Realty

Income

Trust

3,688

1,009

WP

Carey,

Inc.

72,012

Total

7,176,062

Utilities

(0.1%)

349

ALLETE,

Inc.

20,696

674

Alliant

Energy

Corporation

36,295

1,131

Artesian

Resources

Corporation

39,676

640

Black

Hills

Corporation

37,030

1,860

CenterPoint

Energy,

Inc.

35,359

235

Chesapeake

Utilities

Corporation

19,855

564

CMS

Energy

Corporation

36,198

990

Consolidated

Water

Company,

Ltd.

12,147

418

DTE

Energy

Company

48,333

550

Duke

Energy

Corporation

46,607

822

Entergy

Corporation

86,417

315

Essential

Utilities,

Inc.

14,285

715

Exelon

Corporation

27,606

700

FirstEnergy

Corporation

20,300

777

Hawaiian

Electric

Industries,

Inc.

28,174

744

IDACORP,

Inc.

69,378

758

MDU

Resources

Group,

Inc.

15,903

166

Middlesex

Water

Company

10,634

319

National

Fuel

Gas

Company

12,942

1,463

New

Jersey

Resources

Corporation

45,441

72

NextEra

Energy,

Inc.

20,210

179

Northwest

Natural

Holding

Company

9,575

1,440

NorthWestern

Corporation

81,014

1,304

OGE

Energy

Corporation

42,902

696

Otter

Tail

Corporation

26,622

3,897

PNM

Resources,

Inc.

164,570

1,887

Portland

General

Electric

Company

83,273

241

South

Jersey

Industries,

Inc.

5,623

647

Southwest

Gas

Holdings,

Inc.

45,057

1,596

Spire,

Inc.

98,409

1,864

UGI

Corporation

62,146

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

219

Shares

Common

Stock

(10.4%)

Value

Utilities

(0.1%)

-

continued

581

Unitil

Corporation

$

25,070

Total

1,327,747

Total

Common

Stock

(cost

$92,041,294)

109,670,521

Shares

Collateral

Held

for

Securities

Loaned

(

0.2%

)

Value

1,647,820

Thrivent

Cash

Management

Trust

1,647,820

Total

Collateral

Held

for

Securities

Loaned

(cost

$1,647,820)

1,647,820

Shares

or

Principal

Amount

Short-Term

Investments

(

14.7%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

900,000

0.180%,

8/4/2020

p,q

899,998

400,000

0.114%,

8/7/2020

p,q

399,997

600,000

0.125%,

8/11/2020

p,q

599,991

100,000

0.150%,

8/19/2020

p,q

99,997

800,000

0.113%,

8/25/2020

p,q

799,966

700,000

0.152%,

9/2/2020

p,q

699,947

700,000

0.120%,

9/15/2020

p,q

699,925

1,200,000

0.090%,

9/16/2020

p,q

1,199,868

800,000

0.090%,

9/17/2020

p,q

799,910

500,000

0.090%,

9/21/2020

p,q

499,939

400,000

0.090%,

9/22/2020

p,q

399,950

600,000

0.090%,

10/7/2020

p,q

599,902

900,000

0.090%,

11/6/2020

p,q

899,786

Thrivent

Core

Short-Term

Reserve

Fund

14,465,383

0.500%

144,798,487

U.S.

Treasury

Bills

500,000

0.133%,

9/17/2020

p

499,944

100,000

0.022%,

9/24/2020

p

99,987

Total

Short-Term

Investments

(cost

$153,853,120)

153,997,594

Total

Investments

(cost

$1,019,335,018)

108.8%

$1,141,444,530

Other

Assets

and

Liabilities,

Net

(8.8%)

(92,327,471)

Total

Net

Assets

100.0%

$1,049,117,059

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

f

In

bankruptcy.  Interest

is

being

accrued

per

the

bankruptcy

agreement

terms.  

g

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$62,334,293

or

5.9%

of

total

net

assets.

h

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

July

31,

2020.

i

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

j

Defaulted

security.  Interest

is

not

being

accrued.

k

In

bankruptcy.  Interest

is

not

being

accrued.

l

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

m

All

or

a

portion

of

the

security

was

earmarked

to

cover

written

options.

n

All

or

a

portion

of

the

security

is

on

loan.

o

Non-income

producing

security.

p

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

q

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Moderately

Conservative

Allocation

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

223,704

Common

Stock

1,356,765

Total

lending

$1,580,469

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$1,647,820

Net

amounts

due

to

counterparty

$67,351

Definitions:

ACES

-

Alternative

Credit

Enhancement

Securities

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

FNMA

-

Federal

National

Mortgage

Association

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

220

Reference

Rate

Index:

LIBOR

1W

-

ICE

Libor

USD

Rate

1

Week

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

2M

-

ICE

Libor

USD

Rate

2

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

221

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Moderately

Conservative

Allocation

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

1,242,264

–

1,077,360

164,904

Capital

Goods

2,176,544

–

2,176,544

–

Communications

Services

4,432,671

–

4,353,957

78,714

Consumer

Cyclical

2,706,104

–

2,706,104

–

Consumer

Non-Cyclical

3,994,894

–

3,994,894

–

Energy

1,364,582

–

1,364,582

–

Financials

1,767,999

–

1,767,999

–

Technology

1,951,265

–

1,951,265

–

Transportation

535,947

–

535,947

–

Utilities

622,210

–

622,210

–

Long-Term

Fixed

Income

Asset-Backed

Securities

17,947,972

–

17,947,972

–

Basic

Materials

4,612,639

–

4,612,639

–

Capital

Goods

6,208,286

–

6,208,286

–

Collateralized

Mortgage

Obligations

21,121,034

–

21,121,034

–

Commercial

Mortgage-Backed

Securities

2,691,464

–

2,691,464

–

Communications

Services

16,258,356

–

16,258,356

–

Consumer

Cyclical

11,579,583

–

11,579,583

–

Consumer

Non-Cyclical

19,076,795

–

19,076,795

–

Energy

12,184,732

–

12,184,732

–

Financials

30,083,803

–

30,083,803

–

Mortgage-Backed

Securities

134,684,113

–

134,684,113

–

Technology

11,446,594

–

11,446,594

–

Transportation

2,502,827

–

2,502,827

–

U.S.

Government

&

Agencies

148,086,028

–

148,086,028

–

Utilities

11,464,482

–

11,464,482

–

Registered

Investment

Companies

Unaffiliated

8,229,859

8,229,859

–

–

Affiliated

317,655,779

317,655,779

–

–

Common

Stock

Communications

Services

4,151,110

4,151,110

–

–

Consumer

Discretionary

13,120,971

13,120,971

–

–

Consumer

Staples

3,694,258

3,694,258

–

–

Energy

2,322,676

2,322,676

–

–

Financials

14,198,719

14,087,518

111,201

–

Health

Care

17,732,011

17,732,011

–

–

Industrials

16,083,911

16,083,911

–

–

Information

Technology

25,619,474

25,558,839

60,635

–

Materials^

4,243,582

4,123,007

120,575

0

Real

Estate

7,176,062

7,176,062

–

–

Utilities

1,327,747

1,327,747

–

–

Short-Term

Investments

9,199,107

–

9,199,107

–

Subtotal

Investments

in

Securities

$915,498,454

$435,263,748

$479,991,088

$243,618

Other

Investments  *

Total

Affiliated

Short-Term

Investments

144,798,487

Affiliated

Registered

Investment

Companies

79,499,769

Collateral

Held

for

Securities

Loaned

1,647,820

Subtotal

Other

Investments

$225,946,076

Total

Investments

at

Value

$1,141,444,530

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities. 

^

Level

3

security

in

this

section

is

fair

valued

at

<$1.

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

222

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

Counterparty:

JPM

-

J.P.

Morgan

MSC

-

Morgan

Stanley

&

Company

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

5,990,244

5,990,244

–

–

Total

Asset

Derivatives

$5,990,244

$5,990,244

$–

$–

Liability

Derivatives

Futures

Contracts

4,468,617

4,468,617

–

–

Call

Options

Written

83,635

–

–

83,635

Total

Liability

Derivatives

$4,552,252

$4,468,617

$–

$83,635

The

following

table

presents

Moderately

Conservative

Allocation

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$8,239,221

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

2-Yr.

U.S.

Treasury

Note

64

September

2020

$

14,131,697

$

11,304

CBOT

5-Yr.

U.S.

Treasury

Note

103

September

2020

12,897,048

93,827

CBOT

U.S.

Long

Bond

153

September

2020

26,924,448

964,583

CME

E-mini

Russell

2000

Index

2

September

2020

146,297

1,483

CME

E-mini

S&P

500

Index

249

September

2020

38,068,616

2,561,959

CME

Euro

Foreign

Exchange

Currency

34

September

2020

4,952,311

62,476

Eurex

Euro

STOXX

50

Index

130

September

2020

5,050,253

(

198,970)

ICE

mini

MSCI

EAFE

Index

96

September

2020

8,474,128

231,152

ICE

US

mini

MSCI

Emerging

Markets

Index

400

September

2020

19,385,386

2,000,614

Ultra

10-Yr.

U.S.

Treasury

Note

22

September

2020

3,440,654

62,846

Total

Futures

Long

Contracts

$

133,470,838

$

5,791,274

CBOT

10-Yr.

U.S.

Treasury

Note

(143)

September

2020

(

$

19,809,508)

(

$

221,664)

CME

E-mini

Russell

2000

Index

(489)

September

2020

(

33,411,691)

(

2,720,519)

CME

E-mini

S&P

Mid-Cap

400

Index

(98)

September

2020

(

17,062,293)

(

1,170,607)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

(18)

September

2020

(

3,941,518)

(

156,857)

Total

Futures

Short

Contracts

(

$

74,225,010)

($4,269,647)

Total

Futures

Contracts

$

59,245,828

$1,521,627

The

following

table

presents

Moderately

Conservative

Allocation

Fund's

options

contracts

held

as

of

July

31,

2020.

Option

_

Description

(Underlying

Security

Description)

Counter-

party

Number

of

Contracts

Exercise

Price

Expiration

Date

Notional

Principal

Amount

Value

Unrealized

Appreciation/

(Depreciation)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

JPM

(11)

$

104.20

August

2020

(11,555,586)

(

$

96,250)

(

$

68,320)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

FNMA

Conventional

30-Yr.

Pass

Through

Call

Option

(*)

MSC

(3)

102.64

September

2020

(3,236,739)

(

34,846)

(

15,315)

(Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through)

Total

Options

Written

Contracts

($131,096)

($83,635)

(*)  Security

is

valued

using

significant

unobservable

inputs.

Market

quotations

or

prices

were

not

readily

available

or

were

determined

to

be

unreliable.

Value

was

determined

in

good

faith

pursuant

to

procedures

adopted

by

the

Board.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

Moderately

Conservative

Allocation

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

223

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Moderately

Conservative

Allocation

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$27,996

$6,953

$–

$35,986

3,595

3.4%

Core

Emerging

Markets

Equity*

—

5,599

–

5,992

593

0.6

Core

International

Equity

9,032

353

–

8,317

969

0.8

Core

Low

Volatility

Equity

18,964

10,980

–

29,205

2,477

2.8

Global

Stock,

Class

S

1,379

169

–

1,421

59

0.1

High

Yield,

Class

S

23,748

942

–

23,800

5,231

2.3

Income,

Class

S

75,412

2,094

–

82,678

8,114

7.9

International

Allocation,

Class

S

39,325

1,015

–

36,535

3,941

3.5

Large

Cap

Growth,

Class

S

35,384

1,728

–

46,475

2,896

4.4

Large

Cap

Value,

Class

S

67,204

1,298

–

62,392

3,016

5.9

Limited

Maturity

Bond,

Class

S

39,988

697

–

41,207

3,250

3.9

Mid

Cap

Stock,

Class

S

18,250

523

–

18,623

692

1.8

Small

Cap

Stock,

Class

S

4,776

411

–

4,525

213

0.4

Total

Affiliated

Registered

Investment

Companies

361,458

397,156

37.8

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

168,446

153,833

177,568

144,798

14,465

13.8

Total

Affiliated

Short-Term

Investments

168,446

144,798

13.8

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

2,157

103,704

104,213

1,648

1,648

0.2

Total

Collateral

Held

for

Securities

Loaned

2,157

1,648

0.2

Total

Value

$532,061

$543,602

*  

Non-income

producing

security.

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$–

$1,037

$–

$1,077

Core

Emerging

Markets

Equity*

–

393

–

–

Core

International

Equity

–

(1,068)

–

352

Core

Low

Volatility

Equity

Fund

–

(739)

596

383

Global

Stock,

Class

S

–

(127)

145

24

High

Yield,

Class

S

–

(890)

–

942

Income,

Class

S

–

5,172

347

1,747

International

Allocation,

Class

S

–

(3,805)

–

1,015

Large

Cap

Growth,

Class

S

–

9,363

1,729

–

Large

Cap

Value,

Class

S

–

(6,110)

–

1,298

Limited

Maturity

Bond,

Class

S

–

522

–

697

Mid

Cap

Stock,

Class

S

–

(150)

451

72

Small

Cap

Stock,

Class

S

–

(662)

387

23

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

(57)

144

1

1,553

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$9,183

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

23

Total

Affiliated

Income

from

Securities

Loaned,

Net

$23

Total

$(57)

$3,080

$3,656

*  

Non-income

producing

security.

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

224

Principal

Amount

Long-Term

Fixed

Income

(

99.0%

)

Value

Alabama

(0.4%)

Auburn

University,

AL

General

Fee

Rev.

Refg.

$

1,000,000

5.000%,

6/1/2032,

Ser.

A

$

1,185,010

1,250,000

5.000%,

6/1/2033,

Ser.

A

1,476,087

Selma,

AL

Industrial

Development

Board

Rev.

Refg.

(International

Paper

Company)

1,500,000

1.375%,

5/1/2034,

Ser.

A

a

1,515,930

UAB

Medicine

Finance

Auth.

Rev.

2,000,000

5.000%,

9/1/2041,

Ser.

B2

2,393,560

Total

6,570,587

Arizona

(1.1%)

Arizona

Board

of

Regents

State

University

System

Rev.

1,000,000

5.000%,

7/1/2042,

Ser.

B

1,205,570

Arizona

Board

of

Regents

State

University

System

Rev.

Refg.

750,000

5.000%,

7/1/2042,

Ser.

B

926,287

Arizona

State

Industrial

Development

Auth.

Education

Rev.

(Doral

Academy

of

Nevada

-

Fire

Mesa

and

Red

Rock

Campus)

800,000

5.000%,

7/15/2039,

Ser.

A

b

854,592

Arizona

State

Transportation

Board

Highway

Rev.

1,500,000

5.000%,

7/1/2036,

Ser.

A

c

1,566,150

Glendale,

AZ

Industrial

Development

Auth.

Rev.

(Midwestern

University)

2,515,000

5.000%,

5/15/2031

2,637,983

Northern

Arizona

University

Refg.

C.O.P.

1,000,000

5.000%,

9/1/2022

1,074,780

Northern

Arizona

University

Refg.

Rev.

1,180,000

5.000%,

6/1/2036,

Ser.

A

1,402,111

750,000

5.000%,

6/1/2037,

Ser.

A

889,200

320,000

5.000%,

6/1/2038,

Ser.

A

378,640

Phoenix,

AZ

Civic

Improvement

Corporation

Airport

Rev.

2,000,000

5.000%,

7/1/2047,

Ser.

A,

AMT

2,333,580

Phoenix-Mesa

Gateway

Airport

Auth.

Special

Fac.

Rev.

1,450,000

5.000%,

7/1/2038,

AMT

1,555,865

Student

&

Academic

Services,

LLC

Northern

AZ

Capital

Fac.

Lease

Rev.

(BAM

Insured)

750,000

5.000%,

6/1/2039

d

862,553

Yavapai

County,

AZ

Industrial

Development

Auth.

Hospital

Fac.

Rev.

Refg.

(Yavapai

Regional

Medical

Center)

500,000

5.000%,

8/1/2036

588,595

725,000

5.000%,

8/1/2039

901,480

Total

17,177,386

Arkansas

(0.4%)

University

of

Arkansas

Rev.

Refg.

900,000

5.000%,

11/1/2037,

Ser.

A

1,099,512

1,300,000

5.000%,

11/1/2046,

Ser.

A

1,564,030

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Arkansas

(0.4%)

-

continued

University

of

Arkansas

Rev.

Refg.

Various

Fac.

Rev.

(Pine

Bluff

Campus)

$

650,000

5.000%,

12/1/2029,

Ser.

A

$

763,295

University

of

Arkansas

Rev.

Various

Fac.

(Fayetteville

Campus)

1,135,000

5.000%,

11/1/2039,

Ser.

A

1,300,483

825,000

5.000%,

11/1/2041,

Ser.

A

942,612

Total

5,669,932

California

(10.0%)

Anaheim

Public

Financing

Auth.

Lease

Rev.

(Anaheim

Public

Improvements)

(AGM

Insured)

3,950,000

6.000%,

9/1/2024,

Ser.

A

d

4,441,973

Beverly

Hills

Unified

School

District,

Los

Angeles

County,

CA

G.O.

(2008

Election)

10,000,000

Zero

Coupon,

8/1/2031

8,607,400

California

Department

of

Water

Resources

Rev.

Refg.

(Central

Valley)

1,500,000

5.000%,

12/1/2031,

Ser.

AX

1,969,755

1,000,000

5.000%,

12/1/2032,

Ser.

AX

1,305,850

California

Educational

Fac.

Auth.

Rev.

(Stanford

University)

6,000,000

5.250%,

4/1/2040

9,808,320

8,300,000

5.000%,

5/1/2045,

Ser.

U-6

13,801,987

California

Health

Fac.

Financing

Auth.

Rev.

1,750,000

5.000%,

8/15/2055,

Ser.

B

2,044,420

6,225,000

5.000%,

11/15/2056,

Ser.

A

7,450,516

California

Infrastructure

and

Economic

Development

Bank

Rev.

(Bay

Area

Toll

Bridges

Seismic

Retrofit

Rev.)

(FGIC

Insured)

5,000,000

5.000%,

7/1/2025,

Ser.

A

c,d

6,114,050

California

Kindergarten

-

University

Public

Education

Fac.

G.O.

655,000

0.130%,

5/1/2034,

Ser.

A4

a

655,000

California

Municipal

Finance

Auth.

Refg.

Rev.

(Biola

University)

2,000,000

5.000%,

10/1/2042

2,146,240

California

Municipal

Finance

Auth.

Refg.

Rev.

(California

Lutheran

University)

275,000

5.000%,

10/1/2025

318,269

300,000

5.000%,

10/1/2026

353,406

California

Municipal

Finance

Auth.

Rev.

(LINXS

APM)

5,135,000

5.000%,

12/31/2043,

Ser.

A,

AMT

5,969,540

California

Pollution

Control

Financing

Auth.

Rev.

Refg.

(ExxonMobil)

1,775,000

0.160%,

12/1/2029,

AMT

a

1,775,000

California

Various

Purpose

G.O.

10,000

5.250%,

4/1/2029

10,037

7,500,000

5.000%,

4/1/2032

10,884,525

500,000

5.000%,

4/1/2049

643,720

Chula

Vista

Industrial

Development

Rev.

Refg.

(San

Diego

Gas

&

Electric

Company)

2,010,000

5.875%,

2/15/2034,

Ser.

C

2,017,015

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

225

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

California

(10.0%)

-

continued

Foothill-De

Anza,

CA

Community

College

District

G.O.

$

5,000,000

5.000%,

8/1/2040,

Ser.

C

c

$

5,242,250

Golden

West

Schools

Financing

Auth.

Rev.

(NATL-RE

Insured)

420,000

5.800%,

2/1/2022,

Ser.

A

d

454,818

Los

Angeles,

CA

Department

of

Airports

Rev.

(Los

Angeles

International

Airport)

1,305,000

5.000%,

5/15/2040,

Ser.

A

1,318,167

3,000,000

5.000%,

5/15/2044,

Ser.

F,

AMT

3,724,980

Los

Angeles,

CA

Department

of

Water

&

Power

Rev.

7,000,000

5.000%,

7/1/2044,

Ser.

D

8,048,600

Los

Angeles,

CA

Department

of

Water

&

Power

Rev.

Refg.

235,000

0.140%,

7/1/2035,

Ser.

A

a

235,000

Pomona,

CA

Single

Family

Mortgage

Rev.

Refg.

(GNMA/

FNMA/FHLMC

Collateralized)

1,160,000

7.600%,

5/1/2023,

Ser.

A

c,d

1,280,280

San

Bernardino,

CA

Single

Family

Mortgage

Rev.

Refg.

(GNMA

Collateralized)

415,000

7.500%,

5/1/2023,

Ser.

A

c,d

457,396

San

Diego

Unified

School

District

G.O.

10,000,000

6.000%,

7/1/2033,

Ser.

A

c

12,248,100

San

Francisco,

CA

City

&

County

Airport

Commission

Rev.

(San

Francisco

International

Airport)

4,000,000

5.500%,

5/1/2028,

Ser.

A,

AMT

4,463,520

7,825,000

5.000%,

5/1/2044,

Ser.

A,

AMT

8,679,568

5,700,000

5.000%,

5/1/2047,

Ser.

B

6,806,484

San

Jose,

CA

Redevelopment

Agency

Successor

Agency

Tax

Allocation

Refg.

6,000,000

5.000%,

8/1/2035,

Ser.

A

7,507,560

Santa

Monica

Community

College

District,

Los

Angeles

County,

CA

G.O.

5,000,000

Zero

Coupon,

8/1/2025,

Ser.

C

4,863,900

University

of

California

Limited

Rev.

Refg.

8,000,000

5.000%,

5/15/2032,

Ser.

I

9,595,280

Total

155,242,926

Colorado

(5.7%)

Colorado

Educational

and

Cultural

Fac.

Auth.

Charter

School

Refg.

Rev.

(Pinnacle

Charter

School,

Inc.

K-8

Fac.)

200,000

5.000%,

6/1/2021

206,452

Colorado

Educational

and

Cultural

Fac.

Auth.

Charter

School

Rev.

(Pinnacle

Charter

School,

Inc.

High

School)

3,000,000

5.125%,

12/1/2039

3,001,530

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Colorado

(5.7%)

-

continued

Colorado

Educational

and

Cultural

Fac.

Auth.

Charter

School

Rev.

Refg.

(Union

Colony

School)

$

600,000

5.000%,

4/1/2038

$

718,854

475,000

5.000%,

4/1/2048

558,861

Colorado

Educational

and

Cultural

Fac.

Auth.

Rev.

Refg.

(American

Academy)

2,500,000

5.000%,

12/1/2050

3,033,650

2,500,000

5.000%,

12/1/2055

2,996,950

Colorado

Health

Fac.

Auth.

Hospital

Rev.

(Parkview

Medical

Center,

Inc.)

4,000,000

5.000%,

9/1/2046

4,567,800

Colorado

Health

Fac.

Auth.

Rev.

(Evangelical

Lutheran

Good

Samaritan

Society)

2,110,000

5.000%,

12/1/2024

c

2,294,393

500,000

5.625%,

6/1/2043

c

576,835

Colorado

High

Performance

Transportation

Enterprise

Rev.

6,300,000

5.000%,

12/31/2047

6,814,773

Colorado

School

of

Mines

Institutional

Enterprise

Rev.

1,740,000

5.000%,

12/1/2047,

Ser.

A

2,076,603

Colorado

State

Health

Fac.

Auth.

Hospital

Rev.

(Parkview

Medical

Center)

3,325,000

4.000%,

9/1/2050,

Ser.

A

3,675,156

Colorado

State

Health

Fac.

Auth.

Hospital

Rev.

Refg.

(Commonspirit

Health

Obligated

Group)

10,000,000

4.000%,

8/1/2049,

Ser.

A-2

11,106,200

Colorado

State

Health

Fac.

Auth.

Hospital

Rev.

Refg.

(Valley

View

Hospital

Association)

500,000

5.000%,

5/15/2030,

Ser.

A

608,545

385,000

5.000%,

5/15/2031,

Ser.

A

465,126

300,000

5.000%,

5/15/2032,

Ser.

A

360,531

Denver,

CO

Health

and

Hospital

Auth.

Healthcare

Rev.

5,000,000

5.500%,

12/1/2030

c

5,085,050

Denver,

CO

Health

and

Hospital

Auth.

Healthcare

Rev.

Refg.

1,500,000

5.000%,

12/1/2034,

Ser.

A

b

1,747,275

Eagle

County,

CO

Air

Terminal

Corporation

Rev.

(Airport

Terminal)

1,000,000

5.000%,

5/1/2041,

Ser.

B,

AMT

1,133,020

Larimer

Weld

&

Boulder

County,

CO

G.O.

(Thompson

School

District)

1,500,000

5.000%,

12/15/2034

1,965,795

3,000,000

5.000%,

12/15/2035

3,902,490

Park

Creek,

CO

Metropolitan

District

Rev.

3,000,000

5.000%,

12/1/2041,

Ser.

A

3,481,770

2,250,000

5.000%,

12/1/2046,

Ser.

A

2,596,500

Park

Creek,

CO

Metropolitan

District

Rev.

Refg.

1,220,000

5.000%,

12/1/2022

1,344,147

1,000,000

5.000%,

12/1/2024

1,184,390

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

226

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Colorado

(5.7%)

-

continued

Plaza

Metropolitan

District

No.

1

Rev.

Refg.

(City

of

Lakewood)

$

1,000,000

5.000%,

12/1/2021

b

$

1,028,510

500,000

5.000%,

12/1/2022

b

522,825

University

of

Colorado

University

Enterprise

Rev.

3,250,000

5.000%,

6/1/2033,

Ser.

A

c

3,838,672

9,790,000

5.000%,

6/1/2033

c

10,182,971

3,000,000

5.000%,

6/1/2034,

Ser.

A

c

3,543,390

Weld

County,

CO

School

District

6

Greeley

G.O.

3,000,000

5.000%,

12/1/2044

3,915,480

Total

88,534,544

Connecticut

(0.2%)

Connecticut

State

Health

&

Educational

Fac.

Auth.

Rev.

Refg.

(Sacred

Heart

University)

600,000

5.000%,

7/1/2042,

Ser.

I-1

700,158

Connecticut

State

Health

and

Educational

Fac.

Auth.

Rev.

(McLean

Issue)

1,000,000

5.000%,

1/1/2045,

Ser.

A

b

1,052,390

University

of

Connecticut

Rev.

1,500,000

5.000%,

11/1/2036,

Ser.

A

1,886,835

Total

3,639,383

Delaware

(0.2%)

Delaware

State

Economic

Development

Auth.

Charter

School

Rev.

(Newark

Charter

School,

Inc.)

2,000,000

5.000%,

9/1/2050

2,354,420

Kent

County,

DE

Student

Housing

and

Dining

Fac.

Rev.

(CHF-

Dover,

LLC

-

Delaware

State

University)

870,000

5.000%,

7/1/2040,

Ser.

A

849,590

500,000

5.000%,

7/1/2048,

Ser.

A

476,150

Total

3,680,160

District

of

Columbia

(1.5%)

District

of

Columbia

Water

&

Sewer

Auth.

Public

Utility

Rev.

13,715,000

5.000%,

10/1/2049,

Ser.

A

17,273,220

Metropolitan

Washington

DC

Airports

Auth.

Airport

System

Rev.

Refg.

6,000,000

5.000%,

10/1/2038,

Ser.

A,

AMT

6,604,080

Total

23,877,300

Florida

(4.0%)

Broward

County,

FL

Fuel

System

Rev.

(Fort

Lauderdale

Fuel

Fac.)

(AGM

Insured)

1,155,000

5.000%,

4/1/2021,

Ser.

A,

AMT

d

1,190,828

605,000

5.000%,

4/1/2022,

Ser.

A,

AMT

d

652,105

700,000

5.000%,

4/1/2025,

Ser.

A,

AMT

d

777,175

Broward

County,

FL

Water

and

Sewer

Utility

Rev.

Refg.

1,000,000

5.000%,

10/1/2030,

Ser.

A

1,220,160

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Florida

(4.0%)

-

continued

$

1,500,000

5.000%,

10/1/2031,

Ser.

B

$

1,829,385

CityPlace

Community

Development

District

Special

Assessment

and

Rev.

2,000,000

5.000%,

5/1/2026

2,306,240

Florida

State

Higher

Educational

Fac.

Financial

Auth.

Educational

Rev.

(Ringling

College)

5,000,000

5.000%,

3/1/2042

5,365,200

Florida

State

Municipal

Power

Agency

Rev.

1,000,000

5.000%,

10/1/2030,

Ser.

B

1,198,610

840,000

5.000%,

10/1/2031,

Ser.

B

1,004,556

Greater

Orlando,

FL

Aviation

Auth.

Airport

Fac.

Rev.

3,500,000

5.000%,

10/1/2049,

Ser.

A,

AMT

4,307,660

Gulf

Breeze,

FL

Rev.

Refg.

2,020,000

5.000%,

12/1/2033

2,050,280

Jacksonville,

FL

Port

Auth.

Rev.

Refg.

2,545,000

5.000%,

11/1/2038,

Ser.

A,

AMT

c

2,786,750

Lee

Memorial

Health

System

Rev.

Refg.

1,000,000

5.000%,

4/1/2044,

Ser.

A-1

1,215,040

Miami-Dade

County,

FL

Industrial

Development

Auth.

(Pinecrest

Academy,

Inc.)

1,500,000

5.250%,

9/15/2044

1,615,320

Miami-Dade

County,

FL

Public

Fac.

Rev.

(Jackson

Health

System)

5,000,000

5.000%,

6/1/2035,

Ser.

A

5,784,150

Orange

County,

FL

Health

Fac.

Auth.

Hospital

Rev.

(Orlando

Health

Obligated

Group)

1,250,000

5.000%,

10/1/2047,

Ser.

A

1,508,000

Osceola

County,

FL

Transportation

Rev.

Refg.

2,450,000

Zero

Coupon,

10/1/2043,

Ser.

A-2

1,111,320

Palm

Beach

County

Health

Fac.

Auth.

Rev.

(Life

Communities,

Inc.)

2,000,000

5.000%,

11/15/2045,

Ser.

A

2,279,100

Palm

Beach

County

Health

Fac.

Auth.

Rev.

Refg.

(Lifespace

Communities,

Inc.)

3,000,000

5.000%,

5/15/2038,

Ser.

C

3,127,860

South

FL

Water

Management

District

C.O.P.

Refg.

4,000,000

5.000%,

10/1/2036

4,761,680

St.

Johns

County

Industrial

Development

Auth.

Rev.

(Presbyterian

Retirement

Communities)

6,490,000

5.875%,

8/1/2040,

Ser.

A

c

6,490,000

Tampa,

FL

Hospital

Rev.

(H.

Lee

Moffitt

Cancer

Center)

500,000

5.000%,

7/1/2050,

Ser.

B

620,920

Tampa,

FL

Hospital

Rev.

Refg.

(H.

Lee

Moffitt

Cancer

Center)

5,000,000

5.000%,

7/1/2037,

Ser.

B

5,853,600

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

227

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Florida

(4.0%)

-

continued

Volusia

County,

FL

Educational

Fac.

Auth.

Rev.

Refg.

(Embry-

Riddle

Aeronautical

University,

Inc.)

$

3,000,000

5.000%,

10/15/2049,

Ser.

A

$

3,664,050

Total

62,719,989

Georgia

(1.1%)

Atlanta,

GA

Airport

General

Rev.

1,000,000

5.000%,

1/1/2033,

Ser.

C,

AMT

1,051,810

500,000

5.000%,

1/1/2034,

Ser.

C,

AMT

525,475

500,000

5.000%,

1/1/2037,

Ser.

C,

AMT

524,395

Atlanta,

GA

Airport

General

Rev.

Refg.

1,425,000

5.000%,

1/1/2033,

Ser.

B

1,606,687

Atlanta,

GA

Water

&

Wastewater

Rev.

Refg.

2,500,000

5.000%,

11/1/2031

2,993,725

Fulton

County,

GA

Development

Auth.

Rev.

(Georgia

Institute

of

Technology)

1,400,000

5.000%,

6/15/2044

1,749,902

Main

Street

Natural

Gas,

Inc.

Rev.

1,750,000

5.000%,

5/15/2028,

Ser.

A

2,169,283

1,920,000

5.000%,

5/15/2033,

Ser.

A

2,367,187

1,900,000

5.000%,

5/15/2034,

Ser.

A

2,331,908

Municipal

Electric

Auth.

of

Georgia

Rev.

(Plant

Vogtle

Units

3

&

4)

250,000

5.000%,

1/1/2056,

Ser.

A

296,910

Municipal

Electric

Auth.

of

Georgia

Rev.

Refg.

610,000

5.000%,

1/1/2035,

Ser.

A

694,156

Total

16,311,438

Guam

(<0.1%)

Guam

Port

Auth.

Rev.

250,000

5.000%,

7/1/2048,

Ser.

A

284,410

Total

284,410

Hawaii

(1.3%)

Hawaii

State

Department

of

Budget

and

Finance

Special

Purpose

Senior

Living

Rev.

Refg.

1,000,000

5.125%,

11/15/2032

1,083,190

5,395,000

5.250%,

11/15/2037

5,824,874

Hawaii

State

Department

of

Transportation

Airport

Division

Lease

Rev.

C.O.P.

1,600,000

5.000%,

8/1/2028,

AMT

1,760,096

Hawaii

State

Harbor

System

Rev.

6,000,000

5.250%,

7/1/2030,

Ser.

A

6,019,860

Honolulu,

HI

City

&

County

Wastewater

System

Rev.

350,000

5.000%,

7/1/2036,

Ser.

A

426,807

Honolulu,

HI

City

&

County

Wastewater

System

Rev.

Refg.

4,505,000

5.000%,

7/1/2036,

Ser.

B

5,493,622

Total

20,608,449

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Illinois

(6.8%)

Chicago

Metropolitan

Water

Reclamation

District

G.O.

Refg.

$

8,700,000

5.250%,

12/1/2032,

Ser.

C

$

12,445,524

Chicago,

IL

G.O.

Refg.

1,220,000

5.000%,

1/1/2023,

Ser.

C

c

1,358,433

2,780,000

5.000%,

1/1/2023,

Ser.

C

2,932,900

1,000,000

5.000%,

1/1/2027,

Ser.

A

1,116,530

Chicago,

IL

Midway

International

Airport

Rev.

1,120,000

5.000%,

1/1/2026,

Ser.

A,

AMT

1,258,398

Chicago,

IL

O'Hare

International

Airport

Rev.

1,000,000

5.000%,

1/1/2047,

Ser.

G,

AMT

1,152,110

1,000,000

5.000%,

1/1/2047,

Ser.

D,

AMT

1,152,110

Chicago,

IL

O'Hare

International

Airport

Rev.

Refg.

1,200,000

5.000%,

1/1/2029

1,394,400

5,000,000

5.000%,

1/1/2048,

Ser.

B

6,063,400

Illinois

Finance

Auth.

Multifamily

Housing

Rev.

(Better

Housing

Foundation

Blue

Station)

1,750,000

5.000%,

12/1/2043,

Ser.

A-1

e

1,050,000

Illinois

Finance

Auth.

Rev.

(DePaul

University)

4,075,000

6.000%,

10/1/2032,

Ser.

A

c

4,230,665

1,000,000

5.000%,

10/1/2041

1,156,420

Illinois

Finance

Auth.

Rev.

(Rush

University

Medical

Center)

1,000,000

5.000%,

11/15/2027,

Ser.

A

1,171,730

Illinois

Finance

Auth.

Rev.

(The

Art

Institute

of

Chicago)

3,510,000

5.000%,

3/1/2034

c

3,774,794

20,000

5.000%,

3/1/2034

c

21,493

Illinois

Finance

Auth.

Rev.

Refg.

(Northwestern

Memorial

Healthcare)

4,000,000

5.000%,

7/15/2042,

Ser.

A

4,907,920

Illinois

Finance

Auth.

Rev.

Refg.

(Rosalind

Franklin

University)

1,750,000

5.000%,

8/1/2042,

Ser.

A

1,911,700

2,100,000

5.000%,

8/1/2047,

Ser.

A

2,277,702

Illinois

Finance

Auth.

Student

Housing

and

Academic

Fac.

Rev.

(University

of

Illinois

at

Chicago)

500,000

5.000%,

2/15/2032,

Ser.

A

524,745

2,885,000

5.000%,

2/15/2037

2,971,060

1,000,000

5.000%,

2/15/2047,

Ser.

A

1,011,800

Illinois

G.O.

7,000,000

5.000%,

11/1/2023,

Ser.

D

7,587,720

7,000,000

5.000%,

6/1/2024

7,693,490

5,000,000

5.000%,

3/1/2027

5,196,300

1,500,000

5.500%,

7/1/2033

1,612,440

1,750,000

5.500%,

7/1/2038

1,867,425

Illinois

G.O.

Refg.

1,500,000

5.000%,

10/1/2021,

Ser.

B

1,550,010

Illinois

State

Toll

Highway

Auth.

Rev.

5,400,000

5.000%,

1/1/2044,

Ser.

A

6,769,494

Illinois

State

Toll

Highway

Auth.

Senior

Rev.

5,000,000

5.000%,

1/1/2031,

Ser.

A

6,499,150

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

228

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Illinois

(6.8%)

-

continued

Joliet,

IL

Regional

Port

District

Marine

Terminal

Rev.

Refg.

(Exxon)

$

900,000

0.140%,

10/1/2024

a

$

900,000

Metropolitan

Pier

and

Exposition

Auth.,

IL

Refg.

(McCormick

Place

Expansion)

(NATL-RE

Insured)

3,100,000

Zero

Coupon,

6/15/2024,

Ser.

A

d

2,823,387

2,000,000

Zero

Coupon,

12/15/2024,

Ser.

A

d

1,795,980

Metropolitan

Pier

and

Exposition

Auth.,

IL

Rev.

(McCormick

Place

Expansion)

(NATL-RE

Insured)

10,100,000

Zero

Coupon,

6/15/2035,

Ser.

A

d

6,065,151

Metropolitan

Pier

and

Exposition

Auth.,

IL

Rev.

Refg.

(McCormick

Place

Expansion)

2,000,000

Zero

Coupon,

12/15/2047,

Ser.

B

f

1,337,300

Regional

Transportation

Auth.,

Cook,

DuPage,

Kane,

Lake,

McHenry

and

Will

Counties,

IL

Rev.

(NATL-RE

Insured)

765,000

6.700%,

11/1/2021,

Ser.

A

d

798,744

Total

106,380,425

Indiana

(1.1%)

Indiana

Municipal

Power

Agency

Power

Supply

System

Rev.

1,750,000

5.250%,

1/1/2034,

Ser.

A

c

2,004,502

4,155,000

5.000%,

1/1/2042,

Ser.

A

c

4,334,330

Knox

County,

IN

Economic

Development

Rev.

Refg.

(Good

Samaritan

Hospital)

1,955,000

5.000%,

4/1/2037,

Ser.

A

2,018,733

2,465,000

5.000%,

4/1/2042,

Ser.

A

2,533,626

Purdue

University,

IN

Rev.

Refg.

1,500,000

5.000%,

7/1/2028,

Ser.

A

1,800,870

Saint

Joseph

County,

IN

Economic

Development

Rev.

(Saint

Mary's

College)

3,705,000

5.000%,

4/1/2043,

Ser.

2019

4,376,531

Total

17,068,592

Iowa

(1.7%)

Ames,

IA

Rev.

Refg.

(Mary

Greeley

Medical

Center)

4,430,000

5.000%,

6/15/2032

5,220,711

Des

Moines,

IA

Airport

Auth.

Rev.

Refg.

1,205,000

5.000%,

6/1/2024,

AMT

1,288,964

Iowa

Finance

Auth.

Rev.

(Lifespace

Communities,

Inc.)

6,350,000

5.000%,

5/15/2043,

Ser.

A

6,646,672

Iowa

Finance

Auth.

Rev.

Refg.

8,100,000

5.000%,

8/1/2036

10,250,712

3,000,000

5.000%,

8/1/2042

3,771,810

Total

27,178,869

Kansas

(0.9%)

Kansas

Development

Finance

Auth.

Rev.

3,575,000

5.000%,

5/15/2030,

Ser.

S

3,578,611

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Kansas

(0.9%)

-

continued

Kansas

Turnpike

Auth.

Rev.

Refg.

$

1,000,000

5.000%,

9/1/2037,

Ser.

A

$

1,323,260

750,000

5.000%,

9/1/2038,

Ser.

A

988,845

Lenexa,

KS

Health

Care

Fac.

Rev.

Refg.

(Lakeview

Village,

Inc.)

2,750,000

5.000%,

5/15/2039,

Ser.

A

2,941,647

University

of

Kansas

Hospital

Auth.

Refg.

Rev.

4,635,000

5.000%,

3/1/2047,

Ser.

A

5,542,950

Total

14,375,313

Kentucky

(0.6%)

Kentucky

State

Turnpike

Auth.

Economic

Development

Road

Rev.

5,000,000

5.000%,

7/1/2028,

Ser.

A

c

5,455,900

Paducah,

KY

Electric

Plant

Board

Rev.

(AGM

Insured)

750,000

5.000%,

10/1/2035,

Ser.

A

d

900,112

Pikeville,

KY

Hospital

Rev.

(Pikeville

Medical

Center,

Inc.)

3,540,000

6.500%,

3/1/2041

3,629,881

Total

9,985,893

Louisiana

(1.8%)

Alexandria,

LA

Utilities

Rev.

5,000,000

5.000%,

5/1/2043,

Ser.

A

c

5,645,550

East

Baton

Rouge,

LA

Industrial

Development

Board

Rev.

(ExxonMobil)

330,000

0.170%,

8/1/2035,

Ser.

A

a

330,000

1,100,000

0.140%,

12/1/2040,

Ser.

B

a

1,100,000

East

Baton

Rouge,

LA

Pollution

Control

Rev.

Refg.

(ExxonMobil)

100,000

0.140%,

3/1/2022

a

100,000

Lafayette

Public

Power

Auth.

Electric

Rev.

375,000

5.000%,

11/1/2022

414,833

1,520,000

5.000%,

11/1/2031

1,674,599

Louisiana

Local

Government

Environmental

Fac.

&

Community

Development

Auth.

East

Baton

Rouge

Sewer

Rev.

4,900,000

5.000%,

2/1/2035,

Ser.

A

5,374,761

Louisiana

State

Public

Fac.

Auth.

Rev.

(University

of

New

Orleans

Research

&

Technology

Foundation,

Inc.

Student

Housing)

(AGM

Insured)

1,355,000

5.000%,

9/1/2030

d

1,542,383

800,000

5.000%,

9/1/2031

d

908,008

New

Orleans,

LA

Aviation

Board

Rev.

2,500,000

5.000%,

1/1/2040,

Ser.

B,

AMT

2,809,900

750,000

5.000%,

1/1/2048,

Ser.

B,

AMT

863,550

New

Orleans,

LA

G.O.

Refg.

750,000

5.000%,

12/1/2026

918,517

850,000

5.000%,

12/1/2027

1,039,397

350,000

5.000%,

12/1/2029

426,412

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

229

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Louisiana

(1.8%)

-

continued

Port

of

New

Orleans

Board

of

Commissioners

Port

Fac.

Refg.

Rev.

$

1,365,000

5.000%,

4/1/2030,

Ser.

B,

AMT

c

$

1,526,220

1,500,000

5.000%,

4/1/2031,

Ser.

B,

AMT

c

1,677,165

525,000

5.000%,

4/1/2033,

Ser.

B,

AMT

c

587,008

Port

of

New

Orleans

Board

of

Commissioners

Port

Fac.

Refg.

Rev.

(AGM

Insured)

1,500,000

5.000%,

4/1/2043,

Ser.

B,

AMT

d

1,810,035

Total

28,748,338

Maryland

(0.2%)

Baltimore

County,

MD

Rev.

Refg.

(Oak

Crest

Village,

Inc.

Fac.)

2,000,000

4.000%,

1/1/2050

2,129,060

Maryland

Health

and

Higher

Educational

Fac.

Auth.

Rev.

(Loyola

University)

1,000,000

5.000%,

10/1/2045

1,098,780

Maryland

Health

and

Higher

Educational

Fac.

Auth.

Rev.

Refg.

(Frederick

Health

System)

200,000

4.000%,

7/1/2050

223,176

200,000

4.000%,

7/1/2045

224,144

Total

3,675,160

Massachusetts

(4.8%)

Massachusetts

Bay

Transportation

Auth.

Sales

Tax

Rev.

(NATL-RE

Insured)

5,000,000

5.500%,

7/1/2025,

Ser.

B

d

6,261,250

Massachusetts

Development

Finance

Agency

Rev.

(Dana-

Farber

Cancer

Institute)

6,500,000

5.000%,

12/1/2046,

Ser.

N

7,643,805

Massachusetts

Development

Finance

Agency

Rev.

(Northeastern

University)

750,000

5.000%,

10/1/2031

813,983

Massachusetts

Development

Finance

Agency

Rev.

(Wellesley

College)

3,000,000

5.000%,

7/1/2042,

Ser.

J

3,194,640

Massachusetts

G.O.

11,125,000

5.000%,

9/1/2048,

Ser.

E

14,083,471

Massachusetts

Health

&

Educational

Fac.

Auth.

Rev.

(Massachusetts

Institute

of

Technology)

15,295,000

5.250%,

7/1/2033,

Ser.

L

22,976,608

Massachusetts

Health

&

Educational

Fac.

Auth.

Rev.

(Tufts

University)

5,400,000

5.500%,

2/15/2028,

Ser.

M

7,262,028

Massachusetts

Port

Auth.

Rev.

8,300,000

5.000%,

7/1/2042,

Ser.

A,

AMT

8,846,638

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Massachusetts

(4.8%)

-

continued

University

of

Massachusetts

Building

Auth.

Rev.

Refg.

$

2,750,000

5.000%,

5/1/2038,

Ser.

2019-1

$

3,546,015

Total

74,628,438

Michigan

(2.4%)

Grand

Valley,

MI

State

University

General

Rev.

Refg.

650,000

5.000%,

12/1/2029,

Ser.

B

745,400

Grand

Valley,

MI

State

University

Rev.

1,850,000

5.000%,

12/1/2031,

Ser.

A

2,213,174

Great

Lakes,

MI

Water

Auth.

Water

Supply

System

Rev.

10,000,000

5.000%,

7/1/2046,

Ser.

A

11,750,600

Michigan

State

Finance

Auth.

Rev.

(Beaumont

Health

Credit

Group)

6,000,000

5.000%,

11/1/2044,

Ser.

A

6,890,880

Michigan

Strategic

Fund

Limited

Obligation

Rev.

(I-75

Improvement)

535,000

5.000%,

12/31/2033,

AMT

619,016

Michigan

Strategic

Rev.

7,775,000

5.000%,

12/31/2043,

AMT

8,748,897

5,110,000

5.000%,

6/30/2048,

AMT

5,699,745

Total

36,667,712

Minnesota

(2.9%)

Deephaven,

MN

Charter

School

Lease

Rev.

(Eagle

Ridge

Academy)

2,360,000

5.000%,

7/1/2043,

Ser.

A

2,547,526

Goodhue

County,

MN

Education

District

No.

6051

C.O.P.

250,000

5.000%,

2/1/2029

284,817

500,000

5.000%,

2/1/2034

567,050

750,000

5.000%,

2/1/2039

843,428

Ham

Lake,

MN

Charter

School

Lease

Rev.

(DaVinci

Academy

of

Arts

and

Science)

340,000

5.000%,

7/1/2036,

Ser.

A

365,962

Minneapolis,

MN

Student

Housing

Rev.

(Riverton

Community

Housing)

500,000

5.000%,

8/1/2053

b

507,490

Minnesota

Higher

Education

Fac.

Auth.

Rev.

(University

of

St.

Thomas)

1,000,000

5.000%,

10/1/2040

1,222,260

Minnesota

Higher

Education

Fac.

Auth.

Rev.

Refg.

(Gustavus

Adolphus

College)

4,250,000

5.000%,

10/1/2047

4,837,478

Minnesota

Higher

Education

Fac.

Auth.

Rev.

Refg.

(St.

Catherine

University)

1,015,000

5.000%,

10/1/2045,

Ser.

A

1,149,579

Minnesota

Municipal

Power

Agency

Electric

Rev.

200,000

5.000%,

10/1/2029

235,512

150,000

5.000%,

10/1/2030

176,431

200,000

5.000%,

10/1/2032

234,702

175,000

5.000%,

10/1/2033

205,443

1,500,000

5.000%,

10/1/2047

1,812,540

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

230

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Minnesota

(2.9%)

-

continued

North

Oaks,

MN

Senior

Housing

Rev.

Refg.

(Waverly

Gardens)

$

4,000,000

5.000%,

10/1/2047

$

4,205,080

Rochester,

MN

Health

Care

Fac.

Rev.

(Olmsted

Medical

Center)

1,000,000

5.875%,

7/1/2030

1,003,430

St.

Cloud,

MN

Health

Care

Rev.

Refg.

(CentraCare

Health

System)

125,000

5.125%,

5/1/2030,

Ser.

A

125,371

1,000,000

5.000%,

5/1/2046,

Ser.

A

1,164,060

St.

Joseph,

MN

Senior

Housing

&

Healthcare

Rev.

(Woodcrest

of

Country

Manor)

1,275,000

5.000%,

7/1/2055,

Ser.

A

1,204,735

St.

Paul,

MN

Housing

&

Redevelopment

Auth.

Health

Care

Fac.

Rev.

Refg.

(HealthPartners

Obligated

Group)

5,945,000

5.000%,

7/1/2032,

Ser.

A

6,884,964

St.

Paul,

MN

Housing

&

Redevelopment

Auth.

Health

Care

Rev.

Refg.

(Fairview

Health

Services)

6,945,000

5.000%,

11/15/2047,

Ser.

A

8,133,081

St.

Paul,

MN

Housing

&

Redevelopment

Auth.

Rev.

Refg.

(Rossy

&

Richard

Shaller

Family

Sholom

East

Campus)

1,000,000

5.000%,

10/1/2043

1,012,450

University

of

Minnesota

Rev.

(State

Supported

Biomedical

Science

Research

Fac.

Funding)

1,655,000

5.000%,

8/1/2030,

Ser.

B

1,731,113

Wayzata,

MN

Senior

Housing

Rev.

Refg.

(Folkestone

Senior

Living

Community)

500,000

5.000%,

8/1/2049

522,610

Western

Minnesota

Municipal

Power

Agency

Rev.

1,000,000

5.000%,

1/1/2033,

Ser.

A

c

1,161,480

1,000,000

5.000%,

1/1/2034,

Ser.

A

c

1,161,480

300,000

5.000%,

1/1/2035,

Ser.

A

c

348,444

1,000,000

5.000%,

1/1/2040,

Ser.

A

c

1,161,480

Winona,

MN

Health

Care

Fac.

Rev.

Refg.

(Winona

Health

Obligated

Group)

500,000

5.000%,

7/1/2034

512,790

Total

45,322,786

Mississippi

(0.5%)

D'Iberville

Tax

Increment

Refg.

(Gulf

Coast

Promenade)

1,750,000

5.000%,

4/1/2033

1,845,655

Mississippi

Development

Bank

G.O.

(Desoto

County

Highway

Construction)

3,180,000

5.000%,

1/1/2030

c

3,516,476

Warren

County,

MS

Gulf

Opportunity

Zone

Rev.

Refg.

(International

Paper

Company)

1,625,000

1.375%,

5/1/2034,

Ser.

A

a

1,642,257

Total

7,004,388

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Missouri

(0.5%)

Kansas

City,

MO

Industrial

Development

Auth.

Rev.

(Kansas

City

International

Airport

Terminal

Modernization)

$

1,800,000

5.000%,

3/1/2046,

Ser.

B,

AMT

$

2,142,108

Missouri

State

Health

and

Educational

Fac.

Auth.

Rev.

(Lake

Regional

Health

System)

925,000

5.000%,

2/15/2022

964,803

1,680,000

5.000%,

2/15/2034

1,721,832

St.

Louis,

MO

Airport

Rev.

(AGM

Insured)

1,000,000

5.000%,

7/1/2047,

Ser.

C

d

1,173,750

St.

Louis,

MO

Airport

Rev.

Refg.

(Lambert-St.

Louis

International

Airport)

1,000,000

5.000%,

7/1/2032,

AMT

1,063,990

Total

7,066,483

Montana

(0.1%)

Missoula,

MT

Water

Systems

Rev.

830,000

5.000%,

7/1/2038,

Ser.

A

1,055,304

800,000

5.000%,

7/1/2039,

Ser.

A

1,014,728

Total

2,070,032

Nebraska

(2.1%)

Douglas

County,

NE

Hospital

Auth.

No.

2

Health

Fac.

Rev.

(Children's

Hospital

Obligated

Group)

2,105,000

5.000%,

11/15/2047

2,481,227

Lincoln,

NE

Lincoln

Electric

System

Rev.

Refg.

2,500,000

5.000%,

9/1/2037

c

2,750,000

Nebraska

Public

Power

District

Rev.

1,325,000

5.000%,

1/1/2033,

Ser.

A

1,403,268

Omaha,

NE

Public

Power

District

Electric

Rev.

8,150,000

5.000%,

2/1/2045,

Ser.

A

9,430,120

Omaha,

NE

Public

Power

District

Electric

Rev.

Refg.

8,275,000

5.000%,

2/1/2042,

Ser.

A

10,444,539

Omaha,

NE

Sanitary

Sewerage

System

Rev.

1,340,000

5.000%,

11/15/2034

1,572,745

University

of

Nebraska

Lincoln

Student

Fees

and

Fac.

Rev.

1,000,000

5.000%,

7/1/2037

c

1,068,210

University

of

Nebraska

Lincoln

Student

Fees

and

Fac.

Rev.

Refg.

3,050,000

5.000%,

7/1/2038

c

3,331,149

Total

32,481,258

Nevada

(0.4%)

Carson

City,

NV

Hospital

Rev.

Refg.

(Carson

Tahoe

Regional

Medical

Center)

1,500,000

5.000%,

9/1/2042,

Ser.

A

1,740,600

3,250,000

5.000%,

9/1/2047,

Ser.

A

3,744,227

Total

5,484,827

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

231

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

New

Hampshire

(0.5%)

New

Hampshire

Health

and

Education

Fac.

Auth.

Rev.

$

5,000,000

5.000%,

8/1/2059,

Ser.

A

$

7,612,100

Total

7,612,100

New

Jersey

(1.7%)

Gloucester

County,

NJ

Pollution

Control

Financing

Auth.

Rev.

Refg.

300,000

0.080%,

1/1/2022

a

300,000

New

Jersey

Economic

Development

Auth.

Rev.

School

Fac.

Construction

4,000,000

5.000%,

6/15/2043,

Ser.

EEE

4,606,640

New

Jersey

Transportation

Trust

Fund

Auth.

Rev.

1,500,000

5.000%,

6/15/2026,

Ser.

A

1,540,185

1,000,000

5.250%,

6/15/2033,

Ser.

AA

1,122,890

1,645,000

5.250%,

6/15/2034,

Ser.

AA

1,844,078

New

Jersey

Transportation

Trust

Fund

Auth.

Rev.

Refg.

2,000,000

5.000%,

12/15/2039,

Ser.

A

2,355,340

Ocean

County,

NJ

Utilities

Auth.

Waste

Water

Rev.

(NATL-RE

Insured)

3,180,000

5.250%,

1/1/2025

d

3,857,213

Tobacco

Settlement

Financing

Corporation

Rev.

Refg.

8,950,000

5.250%,

6/1/2046,

Ser.

A

10,598,321

Total

26,224,667

New

York

(9.6%)

Buffalo

&

Erie

County,

NY

Industrial

Land

Development

Corporation

Rev.

1,500,000

5.000%,

8/1/2047,

Ser.

A

1,563,735

Hudson,

NY

Yards

Infrastructure

Corporation

Rev.

Refg.

2,000,000

5.000%,

2/15/2042,

Ser.

A

2,400,120

Metropolitan

Transportation

Auth.

NY

Rev.

2,750,000

5.000%,

11/15/2045,

Ser.

A-2

a

3,162,747

Metropolitan

Transportation

Auth.

NY

Rev.

Refg.

2,190,000

5.000%,

11/15/2035

2,625,481

Monroe

County

Industrial

Development

Corporation

Rev.

(True

North

Rochester

Preparatory

Charter

School)

1,000,000

5.000%,

6/1/2050,

Ser.

A

1,165,770

Monroe

County

Industrial

Development

Corporation

Rev.

Refg.

(University

of

Rochester)

1,000,000

5.000%,

7/1/2030,

Ser.

D

1,263,540

1,550,000

5.000%,

7/1/2031,

Ser.

C

1,944,878

800,000

5.000%,

7/1/2031,

Ser.

D

1,003,808

New

York

City

Municipal

Water

Finance

Auth.

Water

and

Sewer

System

Rev.

8,000,000

5.000%,

6/15/2037,

Ser.

DD-1

10,269,920

1,100,000

5.375%,

6/15/2043

1,118,480

12,000,000

5.000%,

6/15/2049,

Ser.

CC-1

15,560,160

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

New

York

(9.6%)

-

continued

New

York

City

Transitional

Finance

Auth.

Future

Tax

Secured

Rev.

$

15,000,000

5.000%,

11/1/2033,

Ser.

D-1

$

15,797,100

19,000,000

5.000%,

2/1/2043,

Ser.

A

22,964,350

1,365,000

0.160%,

2/1/2045,

Ser.

E-4

a

1,365,000

New

York

State

Dormitory

Auth.

State

Personal

Income

Tax

Rev.

5,000,000

5.000%,

3/15/2039,

Ser.

C

5,698,100

New

York

State

Dormitory

Auth.

State

Personal

Income

Tax

Rev.

Refg.

8,320,000

5.000%,

2/15/2043,

Ser.

B

10,197,575

10,000

5.000%,

2/15/2043,

Ser.

B

c

13,210

New

York

State

Liberty

Development

Corporation

Rev.

10,000,000

5.250%,

12/15/2043

10,511,900

New

York

Transportation

Development

Corporation

Special

Fac.

Rev.

(LaGuardia

Airport

)

775,000

5.000%,

1/1/2036,

AMT

846,680

New

York,

NY

G.O.

540,000

0.160%,

8/1/2028,

Ser.

J

a

540,000

1,920,000

5.000%,

8/1/2032,

Ser.

A

2,232,922

1,710,000

0.160%,

4/1/2036,

Ser.

L-3

a

1,710,000

Port

Auth.

of

New

York

&

New

Jersey

Rev.

1,125,000

5.000%,

12/1/2024,

Ser.

178,

AMT

1,280,565

2,500,000

5.000%,

9/1/2035

2,857,750

2,500,000

5.000%,

9/1/2036

2,847,100

5,000,000

5.000%,

9/1/2039

5,672,950

Port

Auth.

of

New

York

&

New

Jersey

Rev.

Refg.

5,000,000

5.000%,

9/15/2034,

Ser.

207,

AMT

6,149,850

1,715,000

5.000%,

9/15/2048,

Ser.

207,

AMT

2,048,190

Triborough

NY

Bridge

&

Tunnel

Auth.

Rev.

3,235,000

0.160%,

1/1/2033,

Ser.

B-1

a

3,235,000

2,550,000

5.000%,

11/15/2037,

Ser.

2008-B-3

3,028,992

1,000,000

5.250%,

11/15/2045,

Ser.

A

1,172,050

Triborough

NY

Bridge

&

Tunnel

Auth.

Rev.

(MTA

Bridges

and

Tunnels)

5,000,000

5.000%,

11/15/2049,

Ser.

A

6,236,600

Troy,

NY

Capital

Resource

Corporation

Rev.

Refg.

(Rensselaer

Polytecnic

Institute)

750,000

5.000%,

9/1/2039,

Ser.

A

920,723

Total

149,405,246

North

Carolina

(0.7%)

Appalachian

State

University

Rev.

2,510,000

5.000%,

5/1/2044

2,988,933

Charlotte,

NC,

Rev.

(Charlotte

Douglas

International

Airport)

1,500,000

5.000%,

7/1/2042,

Ser.

A

1,814,145

North

Carolina

Capital

Fac.

Finance

Agency

Rev.

Refg.

(Johnson

and

Wales

University)

1,000,000

5.000%,

4/1/2032

1,070,250

1,000,000

5.000%,

4/1/2033

1,068,040

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

232

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

North

Carolina

(0.7%)

-

continued

North

Carolina

Eastern

Municipal

Power

Agency

Power

System

Rev.

$

1,475,000

6.000%,

1/1/2026,

Ser.

A

c

$

1,593,280

North

Carolina

Turnpike

Auth.

(Triangle

Expressway

Auth.)

(AGM

Insured)

1,750,000

5.000%,

1/1/2049

d

2,164,488

Total

10,699,136

North

Dakota

(0.4%)

North

Dakota

Public

Finance

Auth.

Rev.

(State

Revolving

Fund)

1,495,000

5.000%,

10/1/2031,

Ser.

A

1,575,969

University

of

North

Dakota

C.O.P.

(Infrastructure

Energy

Improvement)

3,775,000

5.000%,

4/1/2048,

Ser.

A

4,534,832

Total

6,110,801

Ohio

(5.5%)

American

Municipal

Power

Ohio,

Inc.

Rev.

(Greenup

Hydroelectric)

1,000,000

5.000%,

2/15/2041,

Ser.

A

1,176,640

AMP

Fremont

Energy

Center

Rev.

3,000,000

5.000%,

2/15/2037,

Ser.

B

3,187,170

Bowling

Green,

OH

State

University

Rev.

Refg.

500,000

4.000%,

6/1/2045,

Ser.

A

567,900

Buckeye,

OH

Tobacco

Settlement

Financing

Auth.

Rev.

Refg.

14,100,000

5.000%,

6/1/2055,

Ser.

B-2

15,538,482

Cuyahoga

County,

OH

Sales

Tax

Rev.

1,000,000

5.000%,

12/1/2035

1,173,640

Franklin

County,

OH

Convention

Fac.

Auth.

Rev.

(Greater

Columbus

Convention

Center

Hotel)

1,785,000

5.000%,

12/1/2051

1,733,770

Hamilton

County,

OH

Hospital

Fac.

Rev.

Refg.

(TriHealth,

Inc.

Obligated

Group)

1,500,000

4.000%,

8/15/2050,

Ser.

A

1,715,280

Kent

State

University

General

Receipts

Rev.

2,000,000

5.000%,

5/1/2029

2,415,020

1,500,000

5.000%,

5/1/2037,

Ser.

A

c

1,626,495

Lucas

County,

OH

Health

Care

System

Refg.

Rev.

(Sunset

Retirement

Communities)

1,360,000

5.125%,

8/15/2025

1,398,719

1,750,000

5.500%,

8/15/2030

1,801,625

Miami

University

OH

Rev.

1,600,000

5.000%,

9/1/2036

1,676,544

Ohio

Higher

Educational

Fac.

Commission

Rev.

(Case

Western

Reserve

University)

390,000

6.500%,

10/1/2020,

Ser.

B

393,592

2,745,000

5.000%,

12/1/2028

3,190,953

Ohio

Higher

Educational

Fac.

Commission

Rev.

(Dayton

University)

2,565,000

5.000%,

12/1/2035,

Ser.

A

2,943,235

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Ohio

(5.5%)

-

continued

Ohio

Higher

Educational

Fac.

Commission

Rev.

(Kenyon

College)

$

3,025,000

5.000%,

7/1/2042

$

3,599,992

Ohio

Higher

Educational

Fac.

Commission

Rev.

Refg.

(University

of

Findlay)

2,400,000

5.000%,

3/1/2034

2,626,488

Ohio

Hospital

Rev.

(Cleveland

Clinic

Health

System

Obligated

Group)

5,000,000

5.000%,

1/1/2034

c

5,337,350

Ohio

Hospital

Rev.

Refg.

(University

Hospitals

Health

System,

Inc.)

4,000,000

5.000%,

1/15/2050,

Ser.

A

4,879,440

Ohio

State

Turnpike

Commission

Rev.

8,680,000

Zero

Coupon,

2/15/2034,

Ser.

A-4

f

10,727,699

Ohio

State

Turnpike

Commission

Rev.

Refg.

(NATL-RE

Insured)

10,000,000

5.500%,

2/15/2026,

Ser.

A

d

12,327,300

Toledo,

OH

Water

System

Rev.

and

Improvements

2,455,000

5.000%,

11/15/2036

3,019,208

Toledo,

OH

Water

System

Rev.

Refg.

and

Improvements

2,500,000

5.000%,

11/15/2038

2,780,000

Total

85,836,542

Oklahoma

(1.6%)

Grand

River,

OK

Dam

Authority

Rev.

7,815,000

5.000%,

6/1/2039,

Ser.

A

8,947,315

Oklahoma

Agricultural

and

Mechanical

Colleges

General

Rev.

3,000,000

5.000%,

8/1/2038,

Ser.

C

c

3,425,430

Oklahoma

State

Water

Resources

Board

Loan

Program

Rev.

2,005,000

5.000%,

10/1/2040,

Ser.

A

2,448,626

Oklahoma

Turnpike

Auth.

Rev.

500,000

5.000%,

1/1/2028,

Ser.

A

509,020

2,500,000

5.000%,

1/1/2042,

Ser.

A

2,972,700

5,665,000

5.000%,

1/1/2047,

Ser.

C

6,730,077

Total

25,033,168

Oregon

(1.1%)

Clackamas

and

Washington

Counties,

OR

Joint

School

District

No.3

G.O.

(West

Linn-

Wilsonville

Schools)

700,000

Zero

Coupon,

6/15/2040,

Ser.

A

429,583

Clackamas

County,

OR

School

District

3,500,000

5.000%,

6/15/2049,

Ser.

B

4,388,020

Multnomah

&

Clackamas

Counties

School

District

G.O.

520,000

Zero

Coupon,

6/15/2035,

Ser.

A

361,717

Port

of

Portland,

OR

Rev.

Refg.

(Portland

International

Airport)

1,025,000

5.000%,

7/1/2035,

Ser.

23

1,194,843

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

233

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Oregon

(1.1%)

-

continued

$

4,750,000

5.000%,

7/1/2044,

Ser.

25B,

AMT

$

5,768,495

Salem-Keizer

School

District

No.

24J,

Marion

and

Polk

Counties,

OR

G.O.

5,000,000

Zero

Coupon,

6/15/2028,

Ser.

B

4,589,100

Warm

Springs,

OR

Reservation

Confederated

Tribes

Hydroelectric

Rev.

Refg.

(Pelton-

Round

Butte)

800,000

5.000%,

11/1/2039,

Ser.

B

b

972,016

Total

17,703,774

Pennsylvania

(2.2%)

Allegheny

County,

PA

Hospital

Development

Auth.

Rev.

Refg.

(University

of

Pittsburgh

Medical

Center)

1,500,000

5.000%,

7/15/2034,

Ser.

A

1,904,820

Berks

County,

PA

Industrial

Development

Auth.

Healthcare

Fac.

Rev.

Refg.

(Highlands

at

Wyomissing)

460,000

5.000%,

5/15/2043

480,663

410,000

5.000%,

5/15/2048

426,453

Cumberland

County,

PA

Municipal

Auth.

Rev.

(Diakon

Lutheran

Social

Ministries)

1,350,000

5.000%,

1/1/2038

1,418,499

Lancaster

County,

PA

Hospital

Auth.

Rev.

Refg.

(St.

Anne's

Retirement

Community,

Inc.)

250,000

5.000%,

3/1/2050

253,822

250,000

5.000%,

3/1/2045

254,705

Pennsylvania

Economic

Development

Financial

Auth.

Solid

Waste

Disposal

Rev.

(CarbonLite

P,

LLC)

2,875,000

5.750%,

6/1/2036,

AMT

b

2,824,975

Pennsylvania

Turnpike

Commission

Rev.

(BAM

Insured)

6,090,000

Zero

Coupon,

12/1/2041,

Ser.

A-3

d

3,836,213

Pennsylvania

Turnpike

Commission

Turnpike

Rev.

3,000,000

5.000%,

12/1/2040,

Ser.

B

3,501,600

4,950,000

5.000%,

12/1/2046,

Ser.

A-1

5,756,108

Pennsylvania

Turnpike

Commission

Turnpike

Rev.

(AGM

Insured)

10,440,000

6.250%,

6/1/2033,

Ser.

C

d

13,515,520

Total

34,173,378

Puerto

Rico

(0.4%)

Puerto

Rico

Sales

Tax

Financing

Corporation

Rev.

5,296,000

4.550%,

7/1/2040,

Ser.

A-1

5,594,747

Total

5,594,747

South

Carolina

(1.9%)

Beaufort-Jasper

Water

&

Sewer

Auth.

Rev.

Refg.

425,000

5.000%,

3/1/2025,

Ser.

B

515,508

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

South

Carolina

(1.9%)

-

continued

Charleston

County,

SC

Airport

System

Rev.

$

6,215,000

5.500%,

7/1/2031,

Ser.

A,

AMT

$

6,960,862

Columbia,

SC

Waterworks

and

Sewer

System

Rev.

5,250,000

5.000%,

2/1/2049,

Ser.

A

6,709,500

Greenwood

County,

SC

Hospital

Fac.

Rev.

Refg.

(Self

Regional

Healthcare)

1,120,000

5.000%,

10/1/2024,

Ser.

B

1,195,914

2,890,000

5.000%,

10/1/2031,

Ser.

B

3,061,637

Piedmont,

SC

Municipal

Power

Agency

Electric

Rev.

Refg.

(NATL-RE

Insured)

4,000,000

6.250%,

1/1/2021

d

4,096,720

South

Carolina

Jobs

Economic

Development

Auth.

Hospital

Fac.

Rev.

Refg.

(Bon

Secours

Mercy

Health,

Inc.)

2,000,000

5.000%,

12/1/2046,

Ser.

A

2,518,140

South

Carolina

Jobs

Economic

Development

Auth.

Refg.

(Life

Communities,

Inc.)

2,000,000

5.000%,

11/15/2047,

Ser.

C

2,280,180

South

Carolina

Jobs

Economic

Development

Auth.

Rev.

(Bishop

Gadsden

Episcopal

Retirement

Community)

1,460,000

5.000%,

4/1/2054,

Ser.

A

1,582,202

Total

28,920,663

South

Dakota

(0.1%)

South

Dakota

Board

Of

Regents

Housing  &

Auxiliary

Fac.

System

Rev.

1,000,000

5.000%,

4/1/2033,

Ser.

B

1,175,310

Total

1,175,310

Tennessee

(0.2%)

Tennessee

State

School

Bond

Auth.

Rev.

(2nd

Program)

500,000

5.000%,

11/1/2031

589,685

450,000

5.000%,

11/1/2032

529,267

1,275,000

5.000%,

11/1/2034

1,493,191

250,000

5.000%,

11/1/2036

291,533

Total

2,903,676

Texas

(10.0%)

Arlington,

TX

Higher

Education

Finance

Corporation

Rev.

(Great

Hearts

America)

(PSF-GTD

Insured)

3,180,000

4.000%,

8/15/2055,

Ser.

A

d

3,776,886

Central

Texas

Regional

Mobility

Auth.

Rev.

1,700,000

5.000%,

1/1/2040,

Ser.

A

1,934,804

Clifton,

TX

Higher

Education

Finance

Corporation

Education

Rev.

(IDEA

Public

Schools)

1,000,000

5.000%,

8/15/2042

1,053,670

2,000,000

6.000%,

8/15/2043

2,232,940

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

234

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Texas

(10.0%)

-

continued

Clifton,

TX

Higher

Education

Finance

Corporation

Education

Rev.

(IDEA

Public

Schools)

(PSF-

GTD

Insured)

$

1,000,000

5.000%,

8/15/2036,

Ser.

A

d

$

1,214,570

4,605,000

5.000%,

8/15/2039

d

5,273,324

2,000,000

5.000%,

8/15/2046,

Ser.

A

d

2,380,520

Clifton,

TX

Higher

Education

Finance

Corporation

Education

Rev.

(Uplift

Education)

4,000,000

6.250%,

12/1/2045,

Ser.

A

c

4,076,160

Dallas

and

Fort

Worth,

TX

International

Airport

Rev.

Refg.

4,000,000

5.250%,

11/1/2033,

Ser.

F

4,506,000

Harris

County

Industrial

Development

Corporation

Pollution

Control

Rev.

(Exxon)

2,100,000

0.140%,

3/1/2024

a

2,100,000

Harris

County,

TX

Cultural

Education

Fac.

Finance

Corporation

Rev.

(First

Mortgage

Brazos

Presbyterian

Homes,

Inc.)

295,000

5.000%,

1/1/2033,

Ser.

A

301,699

Harris

County,

TX

Cultural

Education

Fac.

Finance

Corporation

Rev.

Refg.

(Brazos

Presbyterian

Homes)

2,000,000

5.000%,

1/1/2037

2,089,000

Houston,

TX

Water

and

Sewer

System

Rev.

Refg.

(AGM

Insured)

10,000,000

5.750%,

12/1/2032,

Ser.

A

c,d

15,540,000

Irving,

TX

Rev.

Refg.

2,325,000

5.000%,

8/15/2043

2,370,919

Lake

Travis

Independent

School

District

G.O.

Refg.

(PSF-GTD

Insured)

1,000,000

5.000%,

2/15/2031

d

1,264,940

Lower

Colorado

River,

TX

Auth.

Rev.

Refg.

(LCRA

Transmission

Services

Corporation)

1,000,000

5.000%,

5/15/2044

1,211,420

New

Hope

Cultural

Education

Facilities

Corporation,

TX

Student

Housing

Rev.

(Collegiate

Housing

College

Station

I

LLC

-

Texas

A&M

University)

1,000,000

5.000%,

4/1/2029,

Ser.

A

1,004,880

North

East

Independent

School

District,

Bexar

County,

TX

G.O.

Unlimited

Tax

Refg.

(PSF-GTD

Insured)

5,000,000

5.250%,

2/1/2028

d

6,668,450

2,000,000

5.250%,

2/1/2029

d

2,739,260

North

Texas

Education

Finance

Corporation

Education

Rev.

(Uplift

Education)

4,500,000

5.125%,

12/1/2042,

Ser.

A

c

4,873,275

North

Texas

Tollway

Auth.

System

Rev.

15,000,000

5.000%,

9/1/2030,

Ser.

D

c

15,772,800

North

Texas

Tollway

Auth.

System

Rev.

Refg.

5,000,000

5.000%,

1/1/2042,

Ser.

B

5,241,800

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Texas

(10.0%)

-

continued

North

Texas

Tollway

Auth.

System

Rev.

Refg.

(AGC

Insured)

$

5,000,000

Zero

Coupon,

1/1/2028,

Ser.

D

d

$

4,525,450

Northwest

Independent

School

District

G.O.

(Denton,

Tarrant

and

Wise

Counties,

TX)

(PSF-

GTD

Insured)

5,705,000

5.000%,

2/15/2038

c,d

6,659,104

Port

Freeport

TX

Senior

Lien

Rev.

3,700,000

5.000%,

6/1/2049,

Ser.

A,

AMT

4,537,384

Red

River

Education

Finance

Corporation

Rev.

(St.

Edwards

University)

2,130,000

5.000%,

6/1/2046

2,322,105

San

Antonio

Water

System

Rev.

7,875,000

5.000%,

5/15/2039,

Ser.

A

10,066,061

Socorro,

TX

Independent

School

District

G.O.

(PSF-GTD

Insured)

1,925,000

5.000%,

8/15/2034

c,d

1,927,849

75,000

5.000%,

8/15/2034

d

75,112

Southwest

TX

Higher

Education

Auth.

Rev.

Refg.

(Southern

Methodist

University)

600,000

5.000%,

10/1/2039

735,594

600,000

5.000%,

10/1/2040

734,040

700,000

5.000%,

10/1/2041

854,315

Tarrant

County

Cultural

Education

Fac.

Finance

Corporation

Hospital

Rev.

(Hendrick

Medical

Center)

2,640,000

5.000%,

9/1/2030

3,023,117

Tarrant

County

Cultural

Education

Fac.

Finance

Corporation

Rev.

Refg.

(Trinity

Terrace)

765,000

5.000%,

10/1/2044,

Ser.

A-1

795,485

Texas

G.O.

Refg.

13,940,000

5.000%,

10/1/2044,

Ser.

A

c

16,703,047

Texas

Private

Activity

Bond

Surface

Transportation

Corporation

Rev.

(Segment

3C)

13,380,000

5.000%,

6/30/2058,

AMT

15,616,735

Total

156,202,715

Utah

(1.9%)

Jordan

Valley,

UT

Water

Conservancy

District

Rev.

3,420,000

5.000%,

10/1/2044,

Ser.

A

4,342,169

3,000,000

5.000%,

10/1/2049,

Ser.

A

3,786,720

Orem,

UT

G.O.

6,880,000

5.000%,

12/1/2046

8,744,342

Salt

Lake

City,

UT

Airport

Rev.

1,000,000

5.000%,

7/1/2042,

Ser.

A,

AMT

1,187,250

1,000,000

5.250%,

7/1/2048,

Ser.

A,

AMT

1,215,460

Utah

Charter

School

Finance

Auth.

Rev.

(North

Davis

Preparatory)

1,000,000

6.250%,

7/15/2030

1,002,770

Utah

Charter

School

Finance

Auth.

Rev.

(Utah

Charter

Academies)

800,000

5.000%,

10/15/2048

945,720

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

235

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Utah

(1.9%)

-

continued

Utah

County,

UT

Hospital

Rev.

(IHC

Health

Services,

Inc.)

$

2,000,000

5.000%,

5/15/2050,

Ser.

A

$

2,575,660

1,000,000

4.000%,

5/15/2043,

Ser.

A

1,182,590

3,175,000

5.000%,

5/15/2043

c

3,293,269

1,610,000

5.000%,

5/15/2045,

Ser.

A

1,815,307

Total

30,091,257

Vermont

(0.3%)

Vermont

Educational

&

Health

Buildings

Financing

Agency

Rev.

Refg.

(University

of

Vermont

Medical

Center)

3,000,000

5.000%,

12/1/2035,

Ser.

A

3,542,130

1,000,000

5.000%,

12/1/2036,

Ser.

A

1,177,710

Total

4,719,840

Virginia

(2.9%)

Fairfax

County,

VA

Industrial

Development

Auth.

Health

Care

Rev.

(Inova

Health

System)

2,405,000

5.000%,

5/15/2044,

Ser.

A

2,710,676

Virginia

Commonwealth

Transportation

Board

Rev.

10,000,000

5.000%,

5/15/2034

c

10,380,600

Virginia

Small

Business

Financing

Auth.

Rev.

(Elizabeth

River

Crossings

Opco,

LLC)

1,150,000

5.000%,

1/1/2027,

AMT

1,215,688

8,910,000

6.000%,

1/1/2037,

AMT

9,475,874

1,800,000

5.500%,

1/1/2042,

AMT

1,889,568

Virginia

Small

Business

Financing

Auth.

Rev.

(Transform

66

P3)

610,000

5.000%,

12/31/2047,

AMT

685,969

6,575,000

5.000%,

12/31/2049,

AMT

7,380,832

10,610,000

5.000%,

12/31/2052,

AMT

11,875,243

Total

45,614,450

Washington

(2.6%)

Clark

County,

WA

Public

Utility

District

No.

1

Electric

Rev.

Refg.

785,000

5.000%,

1/1/2029

962,857

FYI

Properties

Rev.

Refg.

(Washington

DIS)

5,000,000

5.000%,

6/1/2038

6,157,250

Kalispel

Tribe

of

Indians

Priority

Distribution

WA

Rev.

750,000

5.250%,

1/1/2038,

Ser.

A

b

841,733

Pierce

County,

WA

School

District

No.

10,

Tacoma

G.O.

Refg.

2,170,000

5.000%,

12/1/2039

c

2,709,679

Port

of

Seattle

WA

Rev.

1,000,000

5.000%,

4/1/2044,

AMT

1,209,790

Snohomish

County,

WA

Edmonds

School

District

No.

15

U.T.G.O.

1,000,000

5.000%,

12/1/2033

1,157,410

Snohomish

County,

WA

Housing

Auth.

Rev.

3,005,000

5.000%,

4/1/2041

3,714,180

Washington

Health

Care

Fac.

Auth.

Rev.

Refg.

(Seattle

Cancer

Care

Alliance)

2,000,000

5.000%,

9/1/2055

2,490,760

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Washington

(2.6%)

-

continued

Washington

Higher

Education

Fac.

Auth.

Rev.

(Seattle

University)

$

500,000

4.000%,

5/1/2050

$

555,800

450,000

4.000%,

5/1/2045

503,699

Washington

State

Various

Purpose

G.O.

12,095,000

5.000%,

8/1/2030,

Ser.

A

13,684,646

5,310,000

5.000%,

8/1/2042,

Ser.

A

6,655,819

Total

40,643,623

West

Virginia

(0.4%)

West

Virginia

State

University

Rev.

5,000,000

5.000%,

10/1/2049,

Ser.

A

6,319,500

Total

6,319,500

Wisconsin

(2.1%)

Kaukauna,

WI

Electric

System

Rev.

(AGM

Insured)

3,000,000

5.000%,

12/15/2035,

Ser.

A

c,d

3,337,920

Public

Finance

Auth.

Rev.

Refg.

(WakeMed

Hospital)

2,000,000

5.000%,

10/1/2044,

Ser.

A

2,439,400

Public

Finance

Auth.

WI

Retirement

Communities

Rev.

(Acts

Retirement-Life

Communities,

Inc.)

1,000,000

5.000%,

11/15/2041,

Ser.

A

1,180,870

Wisconsin

Health

&

Educational

Fac.

Auth.

Rev.

(PHW

Oconomowoc,

Inc.)

1,750,000

5.125%,

10/1/2048

1,754,200

Wisconsin

Health

&

Educational

Fac.

Auth.

Rev.

(Thedacare,

Inc.)

1,195,000

5.000%,

12/15/2039

1,355,441

2,500,000

5.000%,

12/15/2044

2,816,925

Wisconsin

Health

&

Educational

Fac.

Auth.

Rev.

Refg.

(Ascension

Health

Credit

Group)

9,275,000

5.000%,

11/15/2039,

Ser.

A

11,029,181

Wisconsin

Health

&

Educational

Fac.

Auth.

Rev.

Refg.

(Benevolent

Corporation

Cedar

Community)

870,000

5.000%,

6/1/2037

890,297

Wisconsin

Health

&

Educational

Fac.

Auth.

Rev.

Refg.

(Marquette

University)

5,000,000

5.000%,

10/1/2041

5,744,850

Wisconsin

Health

&

Educational

Fac.

Auth.

Rev.

Refg.

(Marshfield

Clinic

Health

Systems,

Inc.)

2,000,000

5.000%,

2/15/2047,

Ser.

C

2,308,100

Total

32,857,184

Wyoming

(0.2%)

Sublette

County,

WY

Pollution

Control

Rev.

Refg.

(ExxonMobil)

2,080,000

0.140%,

10/1/2044

a

2,080,000

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

236

Principal

Amount

Long-Term

Fixed

Income

(99.0%)

Value

Wyoming

(0.2%)

-

continued

Wyoming

State

Farm

Loan

Board

Capital

Fac.

Refg.

Rev.

$

395,000

5.750%,

10/1/2020

$

398,492

Total

2,478,492

Total

Long-Term

Fixed

Income

(cost

$1,416,763,501)

1,542,775,287

Total

Investments

(cost

$1,416,763,501)

99.0%

$1,542,775,287

Other

Assets

and

Liabilities,

Net

1.0%

16,233,092

Total

Net

Assets

100.0%

$1,559,008,379

a

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

b

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$10,351,806

or

0.7%

of

total

net

assets.

c

Denotes

securities

that

have

been

pre-refunded

or

escrowed

to

maturity.

Under

such

an

arrangement,

money

is

deposited

into

an

irrevocable

escrow

account

and

is

used

to

purchase

U.S.

Treasury

securities

or

government

agency

securities

with

maturing

principal

and

interest

earnings

sufficient

to

pay

all

debt

service

requirements

of

the

pre-

refunded

bonds.

d

To

reduce

certain

risks

associated

with

securities

issued

by

municipalities,

which

may

include

but

are

not

limited

to

economic

development

in

a

specific

industry

or

municipality,

the

principal

and/or

interest

payments

are

guaranteed

by

the

bond

insurance

company

or

government

agency

identified.

e

Defaulted

security.  Interest

is

not

being

accrued.

f

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

July

31,

2020.

Definitions:

AGC

-

Assured

Guaranty,

Ltd

AGM

-

Assured

Guaranty

Municipal

Corporation

AMT

-

Subject

to

Alternative

Minimum

Tax

Auth.

-

Authority

BAM

-

Build

America

Mutual

C.O.P.

-

Certificate

of

Participation

Fac.

-

Facility/Facilities

FGIC

-

Federal

Guaranty

Insurance

Company

FHLMC

-

Federal

Home

Loan

Mortgage

Corporation

FNMA

-

Federal

National

Mortgage

Association

GNMA

-

Government

National

Mortgage

Association

G.O.

-

General

Obligation

NATL-RE

-

National

Public

Finance

Guarantee

Corporation

PSF-GTD

-

Permanent

School

Fund

Guarantee

Program

Refg.

-

Refunding

Rev.

-

Revenue

Ser.

-

Series

U.T.G.O.

-

Unlimited

Tax

General

Obligation

Municipal

Bond

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

237

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Municipal

Bond

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Long-Term

Fixed

Income

Education

239,381,224

–

239,381,224

–

Electric

Revenue

51,798,769

–

51,798,769

–

Escrowed/Pre-refunded

204,090,534

–

204,090,534

–

General

Obligation

144,771,784

–

144,771,784

–

Health

Care

223,923,928

–

223,923,928

–

Housing

Finance

13,232,832

–

13,232,832

–

Industrial

Development

Revenue

14,507,241

–

14,507,241

–

Other

Revenue

88,245,537

–

88,245,537

–

Tax

Revenue

109,379,676

–

109,379,676

–

Transportation

315,294,316

–

315,294,316

–

Water

&

Sewer

138,149,446

–

138,149,446

–

Total

Investments

at

Value

$1,542,775,287

$–

$1,542,775,287

$–

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

238

Principal

Amount

Bank

Loans

(

25.2%

)

a

Value

Basic

Materials

(1.4%)

Ball

Metalpack

Finco

,

LLC,

Term

Loan

$

264,600

4.863%, 

(LIBOR

3M

+

4.500%),

7/31/2025

b

$

247,401

Big

River

Steel,

LLC,

Term

Loan

1,011,400

6.000%, 

(LIBOR

3M

+

5.000%),

8/23/2023

b

960,830

Chemours

Company,

Term

Loan

1,240,525

1.920%, 

(LIBOR

1M

+

1.750%),

4/3/2025

b

1,173,847

Hexion

,

Inc.,

Term

Loan

1,037,380

3.800%, 

(LIBOR

3M

+

3.500%),

7/1/2026

b

1,014,039

Innophos

Holdings,

Inc.,

Term

Loan

1,037,400

3.911%, 

(LIBOR

1M

+

3.750%),

2/7/2027

b,c

1,023,136

Momentive

Performance

Materials

USA,

LLC,

Term

Loan

883,080

3.420%, 

(LIBOR

1M

+

3.250%),

5/15/2024

b

827,155

Nouryon

USA,

LLC,

Term

Loan

2,075,875

3.178%, 

(LIBOR

1M

+

3.000%),

10/1/2025

b,d,e

2,004,382

Peabody

Energy

Corporation,

Term

Loan

1,173,000

2.911%, 

(LIBOR

1M

+

2.750%),

3/31/2025

b

604,095

Pixelle

Specialty

Solutions,

LLC,

Term

Loan

2,047,221

7.500%, 

(LIBOR

1M

+

6.500%),

10/31/2024

b

1,967,891

PQ

Corporation,

Term

Loan

1,125,000

0.000%, 

(LIBOR

1M

+

3.000%),

2/7/2027

b,d,e

1,117,271

Total

10,940,047

Capital

Goods

(2.9%)

Advanced

Disposal

Services,

Inc.,

Term

Loan

1,734,032

3.000%, 

(LIBOR

1W

+

2.250%),

11/10/2023

b

1,722,119

Flex

Acquisition

Company,

Inc.

Term

Loan

1,925,000

3.546%, 

(LIBOR

3M

+

3.250%),

6/29/2025

b

1,827,845

GFL

Environmental,

Inc.,

Term

Loan

3,216,934

4.000%, 

(LIBOR

3M

+

3.000%),

5/31/2025

b

3,197,729

Graham

Packaging

Company,

Inc.,

Term

Loan

1,015,000

0.000%, 

(LIBOR

1M

+

3.750%),

7/28/2027

b,d,e

1,011,915

Mauser

Packaging

Solutions

Holding

Company,

Term

Loan

1,366,475

3.523%, 

(LIBOR

3M

+

3.250%),

4/3/2024

b

1,273,213

Natgasoline

,

LLC,

Term

Loan

1,142,600

3.813%, 

(LIBOR

3M

+

3.500%),

11/14/2025

b,c

1,079,757

Navistar,

Inc.,

Term

Loan

1,896,375

3.690%, 

(LIBOR

1M

+

3.500%),

11/6/2024

b

1,831,576

Principal

Amount

Bank

Loans

(25.2%)

a

Value

Capital

Goods

(2.9%)

-

continued

Reynolds

Group

Holdings,

Inc.,

Term

Loan

$

3,831,802

2.911%, 

(LIBOR

1M

+

2.750%),

2/5/2023

b

$

3,749,724

TransDigm

,

Inc.,

Term

Loan

3,706,307

2.411%, 

(LIBOR

1M

+

2.250%),

12/9/2025

b

3,464,730

Vertiv

Group

Corporation,

Term

Loan

3,491,250

3.162%, 

(LIBOR

1M

+

3.000%),

3/2/2027

b

3,408,333

Total

22,566,941

Communications

Services

(6.5%)

Altice

France

SA,

Term

Loan

788,512

2.911%, 

(LIBOR

1M

+

2.750%),

7/31/2025

b

753,621

CenturyLink,

Inc.,

Term

Loan

3,728,300

2.411%, 

(LIBOR

1M

+

2.250%),

3/15/2027

b

3,584,872

Charter

Communications

Operating,

LLC,

Term

Loan

2,323,087

1.920%, 

(LIBOR

1M

+

1.750%),

4/30/2025

b

2,270,817

CommScope

,

Inc.,

Term

Loan

2,451,475

3.411%, 

(LIBOR

1M

+

3.250%),

4/4/2026

b

2,396,317

Coral-US

Co-Borrower,

LLC,

Term

Loan

4,345,000

2.411%, 

(LIBOR

1M

+

2.250%),

1/31/2028

b

4,171,200

CSC

Holdings,

LLC,

Term

Loan

1,446,412

2.425%, 

(LIBOR

1M

+

2.250%),

7/17/2025

b

1,394,891

3,572,050

2.675%, 

(LIBOR

1M

+

2.500%),

4/15/2027

b

3,448,529

Diamond

Sports

Group,

LLC,

Term

Loan

3,105,104

3.420%, 

(LIBOR

1M

+

3.250%),

8/24/2026

b

2,472,439

Entercom

Media

Corporation,

Term

Loan

1,553,380

2.673%, 

(LIBOR

1M

+

2.500%),

11/17/2024

b

1,466,003

Gray

Television,

Inc.,

Term

Loan

935,000

2.421%, 

(LIBOR

1M

+

2.250%),

2/7/2024

b

907,726

HCP

Acquisition,

LLC,

Term

Loan

2,214,363

4.000%, 

(LIBOR

1M

+

3.000%),

5/16/2024

b

2,163,433

iHeartCommunications

,

Inc.,

Term

Loan

1,201,980

3.161%, 

(LIBOR

1M

+

3.000%),

5/1/2026

b

1,122,517

Mediacom

Illinois,

LLC,

Term

Loan

584,899

1.870%, 

(LIBOR

1W

+

1.750%),

2/15/2024

b,c

580,512

NEP

Group,

Inc.,

Term

Loan

2,070,620

3.411%, 

(LIBOR

1M

+

3.250%),

10/20/2025

b

1,705,031

Nexstar

Broadcasting,

Inc.,

Term

Loan

2,595,000

2.921%, 

(LIBOR

1M

+

2.750%),

9/19/2026

b,d,e

2,522,029

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

239

Principal

Amount

Bank

Loans

(25.2%)

a

Value

Communications

Services

(6.5%)

-

continued

Nielsen

Finance,

LLC,

Term

Loan

$

837,900

4.750%, 

(LIBOR

1M

+

3.750%),

6/4/2025

b

$

837,900

SBA

Senior

Finance

II,

LLC,

Term

Loan

1,857,271

1.920%, 

(LIBOR

1M

+

1.750%),

4/11/2025

b

1,799,659

Terrier

Media

Buyer,

Inc.,

Term

Loan

1,159,175

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

1,128,329

775,000

4.411%, 

(LIBOR

1M

+

4.250%),

12/17/2026

b

749,332

T-Mobile

USA,

Inc.,

Term

Loan

2,590,000

3.161%, 

(LIBOR

1M

+

3.000%),

4/1/2027

b

2,598,314

TNS,

Inc.,

Term

Loan

1,422,711

4.170%, 

(LIBOR

1M

+

4.000%),

8/14/2022

b

1,380,030

Virgin

Media

Bristol,

LLC,

Term

Loan

3,140,000

2.675%, 

(LIBOR

1M

+

2.500%),

1/31/2028

b

3,042,848

WideOpenWest

Finance,

LLC,

Term

Loan

2,586,975

4.250%, 

(LIBOR

1M

+

3.250%),

8/19/2023

b

2,542,996

Windstream

Services,

LLC,

Term

Loan

1,035,000

2.670%, 

(LIBOR

1M

+

2.500%),

2/26/2021

b

1,013,441

545,812

0.000%, 

(PRIME

+

5.000%),

3/30/2021

b,f

326,248

Xplornet

Communications,

Inc.,

Term

Loan

1,330,000

4.911%, 

(LIBOR

1M

+

4.750%),

6/11/2027

b

1,293,837

Ziggo

Financing

Partnership,

Term

Loan

2,285,000

2.675%, 

(LIBOR

1M

+

2.500%),

4/30/2028

b

2,191,566

Total

49,864,437

Consumer

Cyclical

(3.4%)

1011778

B.C.,

LLC,

Term

Loan

3,373,050

1.911%, 

(LIBOR

1M

+

1.750%),

11/19/2026

b

3,233,372

Cengage

Learning,

Inc.,

Term

Loan

1,832,819

5.250%, 

(LIBOR

3M

+

4.250%),

6/7/2023

b

1,483,062

Four

Seasons

Hotels,

Ltd.,

Term

Loan

1,457,247

2.161%, 

(LIBOR

1M

+

2.000%),

11/30/2023

b

1,402,863

Golden

Entertainment,

Inc.,

Term

Loan

2,533,125

3.750%, 

(LIBOR

1M

+

3.000%),

10/20/2024

b

2,301,977

Golden

Nugget,

LLC,

Term

Loan

3,480,471

3.250%, 

(LIBOR

1M

+

2.500%),

10/4/2023

b

2,903,513

IAA,

Inc.,

Term

Loan

585,338

2.438%, 

(LIBOR

1M

+

2.250%),

6/28/2026

b,c

573,631

Principal

Amount

Bank

Loans

(25.2%)

a

Value

Consumer

Cyclical

(3.4%)

-

continued

LCPR

Loan

Financing,

LLC,

Term

Loan

$

2,995,000

5.175%, 

(LIBOR

1M

+

5.000%),

10/15/2026

b

$

3,002,487

Men's

Warehouse,

Inc.,

Term

Loan

1,170,486

4.250%, 

(LIBOR

1M

+

3.250%),

4/9/2025

b

229,708

Mohegan

Gaming

and

Entertainment,

Term

Loan

1,238,143

5.375%, 

(LIBOR

3M

+

4.375%),

10/13/2023

b

1,029,430

Scientific

Games

International,

Inc.,

Term

Loan

4,848,351

3.473%, 

(LIBOR

1M

+

2.750%),

8/14/2024

b

4,405,066

Staples,

Inc.,

Term

Loan

515,786

5.187%, 

(LIBOR

3M

+

4.500%),

9/12/2024

b,d,e

458,941

1,994,549

5.687%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b,d,e

1,711,443

Stars

Group

Holdings

BV,

Term

Loan

1,392,172

3.808%, 

(LIBOR

3M

+

3.500%),

7/10/2025

b

1,391,211

Tenneco,

Inc.,

Term

Loan

881,575

3.161%, 

(LIBOR

1M

+

3.000%),

10/1/2025

b

761,734

Wyndham

Hotels

&

Resorts,

Inc.,

Term

Loan

1,002,150

1.911%, 

(LIBOR

1M

+

1.750%),

5/30/2025

b

953,085

Total

25,841,523

Consumer

Non-Cyclical

(4.0%)

Aramark

Services,

Inc.,

Term

Loan

575,000

1.911%, 

(LIBOR

1M

+

1.750%),

3/11/2025

b

545,531

Bausch

Health

Americas,

Inc.,

Term

Loan

3,214,527

3.176%, 

(LIBOR

1M

+

3.000%),

6/1/2025

b,d,e

3,158,787

Bellring

Brands,

LLC,

Term

Loan

617,089

6.000%, 

(LIBOR

1M

+

5.000%),

10/21/2024

b,d,e

618,631

Change

Healthcare

Holdings,

LLC,

Term

Loan

1,245,000

3.500%, 

(LIBOR

1M

+

2.500%),

3/1/2024

b

1,216,290

Chobani

,

LLC,

Term

Loan

1,431,472

4.500%, 

(LIBOR

1M

+

3.500%),

10/10/2023

b

1,416,356

Dole

Food

Company,

Inc.,

Term

Loan

1,506,644

3.750%, 

(LIBOR

1M

+

2.750%),

4/6/2024

b,d,e

1,466,281

Elanco

Animal

Health,

Inc.,

Term

Loan

1,375,000

0.000%, 

(LIBOR

1M

+

1.750%),

2/4/2027

b,d,e

1,338,906

Endo

International

plc,

Term

Loan

1,521,746

5.000%, 

(LIBOR

3M

+

4.250%),

4/27/2024

b

1,452,750

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

240

Principal

Amount

Bank

Loans

(25.2%)

a

Value

Consumer

Non-Cyclical

(4.0%)

-

continued

Global

Medical

Response,

Inc.,

Term

Loan

$

4,129,125

4.250%, 

(LIBOR

3M

+

3.250%),

4/28/2022

b

$

4,074,084

482,625

5.250%, 

(LIBOR

3M

+

4.250%),

3/14/2025

b

469,623

Grifols

Worldwide

Operations

USA,

Inc.,

Term

Loan

1,313,400

2.111%, 

(LIBOR

1W

+

2.000%),

11/15/2027

b

1,283,849

IQVIA,

Inc.,

Term

Loan

563,551

1.911%, 

(LIBOR

1M

+

1.750%),

1/1/2025

b

551,998

JBS

USA

LUX

SA,

Term

Loan

2,347,174

3.072%, 

(LIBOR

3M

+

2.000%),

5/1/2026

b

2,262,347

MPH

Acquisition

Holdings,

LLC,

Term

Loan

4,150,000

3.750%, 

(LIBOR

3M

+

2.750%),

6/7/2023

b,d,e

4,081,691

Ortho-Clinical

Diagnostics

SA,

Term

Loan

3,594,067

3.416%, 

(LIBOR

1M

+

3.250%),

6/30/2025

b

3,490,738

Plantronics,

Inc.,

Term

Loan

796,023

2.780%, 

(LIBOR

3M

+

2.500%),

7/2/2025

b

730,240

R.R.

Donnelley

&

Sons

Company,

Term

Loan

257,387

5.161%, 

(LIBOR

1M

+

5.000%),

1/15/2024

b

239,370

Sotera

Health

Holdings,

LLC,

Term

Loan

1,246,875

5.500%, 

(LIBOR

1M

+

4.500%),

12/13/2026

b

1,242,199

US

Foods,

Inc.,

Term

Loan

827,844

1.911%, 

(LIBOR

1M

+

1.750%),

6/27/2023

b

783,348

Total

30,423,019

Energy

(1.3%)

BCP

Raptor

II,

LLC,

Term

Loan

455,400

4.911%, 

(LIBOR

1M

+

4.750%),

11/3/2025

b

285,991

Buckeye

Partners,

LP,

Term

Loan

1,760,587

2.921%, 

(LIBOR

1M

+

2.750%),

11/1/2026

b

1,718,228

Calpine

Corporation,

Term

Loan

1,472,379

2.420%, 

(LIBOR

1M

+

2.250%),

1/15/2024

b

1,439,559

CONSOL

Energy,

Inc.,

Term

Loan

1,145,500

4.670%, 

(LIBOR

1M

+

4.500%),

9/28/2024

b

926,904

Fieldwood

Energy,

LLC,

Term

Loan

1,560,000

6.250%, 

(LIBOR

3M

+

5.250%),

4/11/2022

b

356,195

Illuminate

Buyer,

LLC,

Term

Loan

1,165,000

4.308%, 

(LIBOR

3M

+

4.000%),

6/30/2027

b

1,151,020

Radiate

Holdco,

LLC,

Term

Loan

3,918,785

3.750%, 

(LIBOR

1M

+

3.000%),

2/1/2024

b

3,839,312

Total

9,717,209

Principal

Amount

Bank

Loans

(25.2%)

a

Value

Financials

(2.1%)

Avolon

TLB

Borrower

1

US,

LLC,

Term

Loan

$

1,053,990

2.500%, 

(LIBOR

1M

+

1.750%),

1/15/2025

b

$

1,003,135

Blackstone

CQP

Holdco,

LP,

Term

Loan

1,910,700

3.806%, 

(LIBOR

3M

+

3.500%),

9/30/2024

b

1,855,366

Delos

Finance

SARL,

Term

Loan

1,040,000

2.058%, 

(LIBOR

3M

+

1.750%),

10/6/2023

b

1,002,820

GGP

Nimbus,

LLC,

Term

Loan

1,964,277

2.661%, 

(LIBOR

1M

+

2.500%),

8/24/2025

b

1,595,975

INEOS

U.S.

Finance,

LLC,

Term

Loan

827,877

2.214%, 

(LIBOR

2M

+

2.000%),

3/31/2024

b

795,797

Lealand

Finance

Company

BV,

Term

Loan

393,235

4.167%, 

(LIBOR

1M

+

4.000%),

6/30/2025

b

311,965

Level

3

Financing,

Inc.,

Term

Loan

1,980,000

1.911%, 

(LIBOR

1M

+

1.750%),

3/1/2027

b

1,916,066

MoneyGram

International,

Inc.,

Term

Loan

1,079,100

7.000%, 

(LIBOR

3M

+

6.000%),

6/30/2023

b

1,019,749

NCR

Corporation,

Term

Loan

1,632,662

2.670%, 

(LIBOR

1M

+

2.500%),

8/28/2026

b

1,577,560

Northriver

Midstream

Finance,

LP,

Term

Loan

1,602,765

3.552%, 

(LIBOR

3M

+

3.250%),

10/1/2025

b

1,529,647

Tronox

Finance,

LLC,

Term

Loan

1,998,422

2.972%, 

(LIBOR

3M

+

2.750%),

9/22/2024

b

1,942,226

Vericast

Corporation,

Term

Loan

2,077,176

5.750%, 

(LIBOR

3M

+

4.750%),

11/3/2023

b

1,443,201

Total

15,993,507

Technology

(2.4%)

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

4,019,849

3.761%, 

(LIBOR

2M

+

3.500%),

8/21/2026

b

3,567,616

Prime

Security

Services

Borrower,

LLC,

Term

Loan

4,540,688

4.250%, 

(LIBOR

1M

+

3.250%),

9/23/2026

b

4,457,184

Rackspace

Hosting,

Inc.,

Term

Loan

3,992,707

4.000%, 

(LIBOR

2M

+

3.000%),

11/3/2023

b

3,903,390

SS&C

Technologies,

Inc.,

Term

Loan

1,901,241

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

1,839,451

1,328,476

1.911%, 

(LIBOR

1M

+

1.750%),

4/16/2025

b

1,285,301

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

241

Principal

Amount

Bank

Loans

(25.2%)

a

Value

Technology

(2.4%)

-

continued

Zayo

Group

Holdings,

Inc.,

Term

Loan

$

3,311,700

3.161%, 

(LIBOR

1M

+

3.000%),

3/9/2027

b

$

3,212,349

Total

18,265,291

Transportation

(0.6%)

Delta

Air

Lines,

Inc.,

Term

Loan

480,000

0.000%, 

(LIBOR

1M

+

4.750%),

4/29/2023

b,d,e

471,826

Genesee

&

Wyoming,

Inc.,

Term

Loan

2,069,813

2.308%, 

(LIBOR

3M

+

2.000%),

12/30/2026

b

2,029,720

Mileage

Plus

Holdings,

LLC,

Term

Loan

1,125,000

6.250%, 

(LIBOR

3M

+

5.250%),

6/20/2027

b

1,121,625

United

Airlines,

Inc.,

Term

Loan

1,547,005

1.911%, 

(LIBOR

1M

+

1.750%),

4/1/2024

b

1,385,126

Total

5,008,297

Utilities

(0.6%)

Advanced

Drainage

Systems,

Inc.,

Term

Loan

518,592

2.438%, 

(LIBOR

1M

+

2.250%),

9/24/2026

b

511,462

Core

and

Main,

LP,

Term

Loan

1,181,588

3.750%, 

(LIBOR

3M

+

2.750%),

8/1/2024

b

1,148,361

EnergySolutions

,

LLC,

Term

Loan

877,100

4.750%, 

(LIBOR

3M

+

3.750%),

5/11/2025

b

807,660

Pacific

Gas

&

Electric

Company,

Term

Loan

2,585,000

5.500%, 

(LIBOR

3M

+

4.500%),

1/1/2022

b

2,553,489

Total

5,020,972

Total

Bank

Loans

(cost

$203,493,468)

193,641,243

Principal

Amount

Long-Term

Fixed

Income

(

53.1%

)

Value

Asset-Backed

Securities

(4.4%)

Apidos

CLO

XXIV

1,400,000

1.722%, 

(LIBOR

3M

+

1.450%),

10/20/2030,

Ser.

2016-24A,

Class

A1BR

b,g

1,362,084

Assurant

CLO

III,

Ltd.

1,350,000

1.502%, 

(LIBOR

3M

+

1.230%),

10/20/2031,

Ser.

2018-2A,

Class

A

b,g

1,318,544

Babson

CLO,

Ltd.

1,225,000

3.172%, 

(LIBOR

3M

+

2.900%),

7/20/2029,

Ser.

2018-3A,

Class

D

b,g

1,074,380

Benefit

Street

Partners

CLO

IV,

Ltd.

850,000

2.022%, 

(LIBOR

3M

+

1.750%),

1/20/2029,

Ser.

2014-IVA,

Class

A2RR

b,g

841,073

Business

Jet

Securities,

LLC

797,736

4.447%, 

6/15/2033,

Ser.

2018-2,

Class

A

g

798,214

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Asset-Backed

Securities

(4.4%)

-

continued

Cent

CLO,

LP

$

2,700,000

2.545%, 

(LIBOR

3M

+

2.300%),

10/25/2028,

Ser.

2018-27A,

Class

B

b,g

$

2,613,878

College

Ave

Student

Loans,

LLC

523,265

1.822%, 

(LIBOR

1M

+

1.650%),

11/26/2046,

Ser.

2017-A,

Class

A1

b,g

520,627

Education

Funding

Trust

1,876,872

2.790%, 

7/25/2041,

Ser.

2020-A,

Class

A

g

1,897,493

Foundation

Finance

Trust

357,069

3.300%, 

7/15/2033,

Ser.

2017-1A,

Class

A

g

360,717

Freedom

ABS

Trust

1,080,384

2.520%, 

3/18/2027,

Ser.

2020-FP1,

Class

A

g

1,079,187

Harley

Marine

Financing,

LLC

1,254,788

5.682%, 

5/15/2043,

Ser.

2018-1A,

Class

A2

g

1,127,989

Madison

Park

Funding

XIV,

Ltd.

1,250,000

1.658%, 

(LIBOR

3M

+

1.400%),

10/22/2030,

Ser.

2014-14A,

Class

A2RR

b,g

1,212,836

Myers

Park

CLO,

Ltd.

1,275,000

1.672%, 

(LIBOR

3M

+

1.400%),

10/20/2030,

Ser.

2018-1A,

Class

A2

b,g

1,253,680

OHA

Credit

Funding

1,

Ltd.

1,085,000

1.722%, 

(LIBOR

3M

+

1.450%),

10/20/2030,

Ser.

2018-1A,

Class

A2

b,g

1,062,496

OZLM

Funding

II,

Ltd.

2,170,000

1.768%, 

(LIBOR

3M

+

1.500%),

7/30/2031,

Ser.

2012-2A,

Class

A1BR

b,g

2,114,774

OZLM

IX,

Ltd.

2,000,000

1.822%, 

(LIBOR

3M

+

1.550%),

10/20/2031,

Ser.

2014-9A,

Class

A1BR

b,g

1,965,782

Palmer

Square

Loan

Funding,

Ltd.

850,000

2.522%, 

(LIBOR

3M

+

2.250%),

4/20/2027,

Ser.

2019-1A,

Class

B

b,g

840,351

Park

Avenue

Institutional

Advisers

CLO,

Ltd.

2,200,000

1.772%, 

(LIBOR

3M

+

1.500%),

10/20/2031,

Ser.

2018-1A,

Class

A1B

b,g

2,186,162

Pretium

Mortgage

Credit

Partners,

LLC

2,245,480

3.721%, 

1/25/2059,

Ser.

2019-CFL1,

Class

A1

g,h

2,233,145

Riserva

CLO,

Ltd.

1,125,000

1.972%, 

(LIBOR

3M

+

1.700%),

10/18/2028,

Ser.

2016-3A,

Class

BR

b,g

1,100,232

Saxon

Asset

Securities

Trust

154,806

3.974%, 

8/25/2035,

Ser.

2004-2,

Class

MF2

b

154,339

Sound

Point

CLO

X,

Ltd.

1,150,000

2.972%, 

(LIBOR

3M

+

2.700%),

1/20/2028,

Ser.

2015-3A,

Class

DR

b,g

1,042,139

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

242

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Asset-Backed

Securities

(4.4%)

-

continued

Sound

Point

CLO

XXI,

Ltd.

$

2,200,000

1.695%, 

(LIBOR

3M

+

1.450%),

10/26/2031,

Ser.

2018-3A,

Class

A1B

b,g

$

2,128,808

THL

Credit

Wind

River

CLO,

Ltd.

1,150,000

3.125%, 

(LIBOR

3M

+

2.850%),

7/15/2028,

Ser.

2016-1A,

Class

DR

b,g

1,049,983

Vericrest

Opportunity

Loan

Transferee

2,148,699

3.352%, 

9/25/2049,

Ser.

2019-NPL5,

Class

A1A

g,h

2,146,924

Total

33,485,837

Basic

Materials

(1.0%)

Air

Products

and

Chemicals,

Inc.

74,000

1.500%, 

10/15/2025

77,318

Alcoa

Nederland

Holding

BV

350,000

5.500%, 

12/15/2027

g

377,230

Anglo

American

Capital

plc

234,000

4.125%, 

9/27/2022

g

246,839

BHP

Billiton

Finance

USA,

Ltd.

249,000

6.750%, 

10/19/2075

b,g

294,022

BWAY

Holding

Company

350,000

5.500%, 

4/15/2024

g

356,853

Cleveland-Cliffs,

Inc.

220,000

5.750%, 

3/1/2025

i

189,750

200,000

9.875%, 

10/17/2025

g

218,500

EI

du

Pont

de

Nemours

&

Company

136,000

1.700%, 

7/15/2025

142,152

First

Quantum

Minerals,

Ltd.

390,000

7.500%, 

4/1/2025

g

393,900

Freeport-McMoRan,

Inc.

320,000

4.125%, 

3/1/2028

336,400

340,000

4.250%, 

3/1/2030

355,232

Kinross

Gold

Corporation

117,000

5.125%, 

9/1/2021

121,143

Koppers

,

Inc.

380,000

6.000%, 

2/15/2025

g

391,400

Krayton

Polymers,

LLC

380,000

7.000%, 

4/15/2025

g

393,300

Methanex

Corporation

490,000

5.250%, 

12/15/2029

474,075

Mosaic

Company

64,000

3.250%, 

11/15/2022

66,031

Norbord,

Inc.

515,000

5.750%, 

7/15/2027

g

548,475

Novelis

Corporation

590,000

5.875%, 

9/30/2026

g

629,477

140,000

4.750%, 

1/30/2030

g

146,058

Nucor

Corporation

68,000

2.000%, 

6/1/2025

71,569

Olin

Corporation

500,000

5.125%, 

9/15/2027

485,000

Peabody

Securities

Finance

Corporation

415,000

6.375%, 

3/31/2025

g

207,500

Steel

Dynamics,

Inc.

81,000

2.400%, 

6/15/2025

85,034

Syngenta

Finance

NV

200,000

3.933%, 

4/23/2021

g

202,007

Tronox

Finance

plc

420,000

5.750%, 

10/1/2025

g

415,800

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Basic

Materials

(1.0%)

-

continued

Xstrata

Finance

Canada,

Ltd.

$

175,000

4.950%, 

11/15/2021

g

$

183,239

Total

7,408,304

Capital

Goods

(1.6%)

AECOM

775,000

5.125%, 

3/15/2027

851,531

Amsted

Industries,

Inc.

520,000

5.625%, 

7/1/2027

g

548,600

Ardagh

Packaging

Finance

plc

220,000

5.250%, 

8/15/2027

g

230,289

Berry

Global,

Inc.

300,000

4.875%, 

7/15/2026

g

316,875

Caterpillar

Financial

Services

Corporation

187,000

1.900%, 

9/6/2022

192,861

199,000

1.950%, 

11/18/2022

206,105

135,000

1.450%, 

5/15/2025

139,822

Cintas

Corporation

No.

2

174,000

2.900%, 

4/1/2022

180,481

CNH

Industrial

Capital,

LLC

180,000

4.875%, 

4/1/2021

184,655

82,000

1.950%, 

7/2/2023

82,763

Covanta

Holding

Corporation

380,000

6.000%, 

1/1/2027

393,300

Crown

Americas

Capital

Corporation

IV

715,000

4.500%, 

1/15/2023

754,697

Crown

Cork

&

Seal

Company,

Inc.

530,000

7.375%, 

12/15/2026

625,400

General

Electric

Company

430,000

5.000%, 

1/21/2021

b,j

340,775

H&E

Equipment

Services,

Inc.

475,000

5.625%, 

9/1/2025

494,594

Honeywell

International,

Inc.

135,000

1.350%, 

6/1/2025

139,667

Huntington

Ingalls

Industries,

Inc.

141,000

3.844%, 

5/1/2025

g

156,628

Jeld-Wen

,

Inc.

320,000

4.625%, 

12/15/2025

g

323,200

John

Deere

Capital

Corporation

205,000

1.200%, 

4/6/2023

209,599

199,000

2.050%, 

1/9/2025

i

212,128

L3Harris

Technologies,

Inc.

195,000

4.950%, 

2/15/2021

197,336

Otis

Worldwide

Corporation

201,000

2.056%, 

4/5/2025

g

212,866

Owens-Brockway

Glass

Container,

Inc.

142,000

5.000%, 

1/15/2022

g

142,355

PACCAR

Financial

Corporation

141,000

2.650%, 

4/6/2023

148,868

Parker-Hannifin

Corporation

250,000

2.700%, 

6/14/2024

269,087

Raytheon

Technologies

Corporation

126,000

2.800%, 

3/15/2022

g

130,303

Republic

Services,

Inc.

127,000

2.500%, 

8/15/2024

136,162

Reynolds

Group

Issuer,

Inc.

750,000

5.125%, 

7/15/2023

g

761,475

Roper

Technologies,

Inc.

60,000

2.800%, 

12/15/2021

61,803

124,000

2.350%, 

9/15/2024

132,132

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

243

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Capital

Goods

(1.6%)

-

continued

Spirit

AeroSystems

,

Inc.

$

100,000

7.500%, 

4/15/2025

g

$

98,280

Standard

Industries,

Inc.

630,000

4.375%, 

7/15/2030

g

680,400

Textron

Financial

Corporation

500,000

2.127%, 

(LIBOR

3M

+

1.735%),

2/15/2042

b,g

330,000

TransDigm

,

Inc.

240,000

6.250%, 

3/15/2026

g

253,200

660,000

5.500%, 

11/15/2027

626,142

United

Rentals

North

America,

Inc.

140,000

4.875%, 

1/15/2028

150,325

885,000

4.000%, 

7/15/2030

915,975

United

Technologies

Corporation

235,000

3.950%, 

8/16/2025

272,173

WESCO

Distribution,

Inc.

140,000

7.250%, 

6/15/2028

g

152,950

WW

Grainger,

Inc.

137,000

1.850%, 

2/15/2025

144,142

Total

12,399,944

Collateralized

Mortgage

Obligations

(9.3%)

Antler

Mortgage

Trust

1,050,000

4.458%, 

6/27/2022,

Ser.

2019-RTL1,

Class

A1

g

1,052,843

2,742,771

4.335%, 

7/25/2022,

Ser.

2018-RTL1,

Class

A1

g

2,748,109

Banc

of

America

Alternative

Loan

Trust

746,562

6.000%, 

11/25/2035,

Ser.

2005-10,

Class

3CB1

707,291

Banc

of

America

Funding

Trust

818,686

5.500%, 

1/25/2036,

Ser.

2005-8,

Class

1A1

782,905

Banc

of

America

Mortgage

Securities

Trust

902,531

3.945%, 

9/25/2035,

Ser.

2005-H,

Class

3A1

b

831,148

176,402

4.089%, 

9/25/2035,

Ser.

2005-H,

Class

2A1

b

161,783

Bellemeade

Re,

Ltd.

882,260

1.772%, 

(LIBOR

1M

+

1.600%),

4/25/2028,

Ser.

2018-1A,

Class

M1B

b,g

873,563

825,000

2.822%, 

(LIBOR

1M

+

2.650%),

6/25/2030,

Ser.

2020-1A,

Class

M1A

b,g

827,487

1,100,000

3.572%, 

(LIBOR

1M

+

3.400%),

6/25/2030,

Ser.

2020-1A,

Class

M1B

b,g

1,108,807

Bunker

Hill

Loan

Depositary

Trust

600,000

2.600%, 

2/25/2055,

Ser.

2020-1,

Class

A2

b,g

602,564

Cascade

Funding

Mortgage

Trust

556,631

4.580%, 

6/25/2048,

Ser.

2018-RM1,

Class

A1

g

560,416

CHL

Mortgage

Pass-Through

Trust

484,631

3.454%, 

12/20/2035,

Ser.

2005-HYB8,

Class

3A1

b

474,467

310,015

6.000%, 

4/25/2037,

Ser.

2007-3,

Class

A18

238,581

206,677

6.000%, 

4/25/2037,

Ser.

2007-3,

Class

A33

159,054

1,133,536

6.000%, 

11/25/2037,

Ser.

2007-18,

Class

1A2

910,028

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Collateralized

Mortgage

Obligations

(9.3%)

-

continued

CIM

Trust

$

737,362

5.000%, 

12/25/2057,

Ser.

2018-R3,

Class

A1

b,g

$

776,577

Citigroup

Mortgage

Loan

Trust,

Inc.

1,312,477

3.974%, 

4/25/2037,

Ser.

2007-AR5,

Class

1A1A

b

1,243,288

Countrywide

Alternative

Loan

Trust

468,011

5.000%, 

3/25/2035,

Ser.

2005-3CB,

Class

1A1

463,241

577,584

5.500%, 

5/25/2035,

Ser.

2005-J3,

Class

1A5

533,859

583,387

5.500%, 

10/25/2035,

Ser.

2005-46CB,

Class

A8

502,146

276,583

6.500%, 

8/25/2036,

Ser.

2006-23CB,

Class

2A3

150,646

212,388

7.000%, 

10/25/2037,

Ser.

2007-24,

Class

A10

121,190

Countrywide

Home

Loan

Mortgage

Pass

Through

Trust

339,568

3.558%, 

11/25/2035,

Ser.

2005-22,

Class

2A1

b

308,273

Credit

Suisse

First

Boston

Mortgage

Securities

Corporation

118,874

5.250%, 

10/25/2035,

Ser.

2005-9,

Class

1A3

119,095

Credit

Suisse

Mortgage

Capital

Certificates

640,631

3.393%, 

2/25/2024,

Ser.

2020-BPL1,

Class

A1

g,h

640,968

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

829,640

5.250%, 

6/25/2035,

Ser.

2005-3,

Class

4A6

848,564

Eagle

Re,

Ltd.

300,782

1.972%, 

(LIBOR

1M

+

1.800%),

4/25/2029,

Ser.

2019-1,

Class

M1B

b,g

298,382

Federal

Home

Loan

Mortgage

Corporation

2,537,325

3.500%, 

8/15/2035,

Ser.

345,

Class

C8

k

273,687

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

2,085,659

3.000%, 

5/15/2027,

Ser.

4046,

Class

GI

k

120,399

1,713,236

3.000%, 

7/15/2027,

Ser.

4084,

Class

NI

k

111,555

2,778,914

3.500%, 

10/15/2032,

Ser.

4119,

Class

KI

k

339,123

3,330,693

3.000%, 

4/15/2033,

Ser.

4203,

Class

DI

k

251,882

Federal

National

Mortgage

Association

-

REMIC

1,632,301

3.000%, 

7/25/2027,

Ser.

2012-73,

Class

DI

k

92,233

2,350,339

3.000%, 

7/25/2027,

Ser.

2012-74,

Class

AI

k

119,773

3,928,021

3.000%, 

8/25/2027,

Ser.

2012-95,

Class

HI

k

197,663

5,494,265

3.000%, 

11/25/2027,

Ser.

2012-121,

Class

BI

k

350,460

3,144,533

3.000%, 

12/25/2027,

Ser.

2012-139,

Class

DI

k

171,547

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

244

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Collateralized

Mortgage

Obligations

(9.3%)

-

continued

$

1,552,442

2.500%, 

1/25/2028,

Ser.

2012-152,

Class

AI

k

$

85,343

4,033,082

3.000%, 

1/25/2028,

Ser.

2012-147,

Class

EI

k

225,442

1,208,247

3.000%, 

2/25/2028,

Ser.

2013-2,

Class

GI

k

76,035

6,700,622

3.000%, 

3/25/2028,

Ser.

2013-18,

Class

IL

k

379,335

2,302,026

2.500%, 

6/25/2028,

Ser.

2013-87,

Class

IW

k

133,843

3,179,440

3.000%, 

11/25/2031,

Ser.

2013-69,

Class

IO

k

154,899

1,667,139

3.000%, 

2/25/2033,

Ser.

2013-1,

Class

YI

k

177,366

First

Horizon

Alternative

Mortgage

Securities

Trust

302,487

3.184%, 

7/25/2035,

Ser.

2005-AA5,

Class

2A1

b

292,096

FWD

Securitization

Trust

1,582,057

2.810%, 

6/25/2049,

Ser.

2019-INV1,

Class

A1

b,g

1,619,642

Genworth

Mortgage

Insurance

Corporation

725,000

2.072%, 

(LIBOR

1M

+

1.900%),

11/26/2029,

Ser.

2019-1,

Class

M1

b,g

697,543

GMAC

Mortgage

Corporation

Loan

Trust

217,872

3.670%, 

5/25/2035,

Ser.

2005-AR2,

Class

4A

b

204,705

75,568

0.672%, 

(LIBOR

1M

+

0.500%),

8/25/2035,

Ser.

2005-HE1,

Class

A2

b,l

79,727

73,082

3.984%, 

9/19/2035,

Ser.

2005-AR5,

Class

5A1

b

65,850

Greenpoint

Mortgage

Funding

Trust

211,766

0.372%, 

(LIBOR

1M

+

0.200%),

10/25/2045,

Ser.

2005-AR4,

Class

G41B

b

183,886

Home

Equity

Asset

Trust

1,056,789

1.492%, 

(LIBOR

1M

+

1.320%),

8/25/2033,

Ser.

2003-2,

Class

M1

b

1,035,030

IndyMac

INDA

Mortgage

Loan

Trust

2,451,657

3.624%, 

8/25/2036,

Ser.

2006-AR1,

Class

A1

b

2,264,388

IndyMac

INDX

Mortgage

Loan

Trust

2,423,710

0.382%, 

(LIBOR

1M

+

0.210%),

4/25/2046,

Ser.

2006-AR2,

Class

1A1B

b

2,151,140

J.P.

Morgan

Alternative

Loan

Trust

618,582

3.796%, 

3/25/2036,

Ser.

2006-A1,

Class

2A1

b

552,362

390,717

6.500%, 

3/25/2036,

Ser.

2006-S1,

Class

1A19

319,774

J.P.

Morgan

Mortgage

Trust

458,749

4.171%, 

7/25/2035,

Ser.

2007-A1,

Class

2A1

b

448,177

Legacy

Mortgage

Asset

Trust

1,426,769

4.000%, 

1/25/2059,

Ser.

2019-GS1,

Class

A1

g

1,450,968

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Collateralized

Mortgage

Obligations

(9.3%)

-

continued

$

1,575,808

3.250%, 

2/25/2060,

Ser.

2020-GS4,

Class

A1

g,h

$

1,586,420

Lehman

Mortgage

Trust

84,620

6.000%, 

1/25/2036,

Ser.

2005-3,

Class

2A7

90,657

Long

Beach

Mortgage

Loan

Trust

930,617

1.672%, 

(LIBOR

1M

+

1.500%),

9/25/2034,

Ser.

2004-5,

Class

M3

b

880,053

Master

Asset

Securitization

Trust

750,140

0.672%, 

(LIBOR

1M

+

0.500%),

6/25/2036,

Ser.

2006-2,

Class

2A2

b

205,785

Merrill

Lynch

Alternative

Note

Asset

Trust

341,781

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

230,562

Merrill

Lynch

Mortgage

Investors

Trust

707,469

3.510%, 

6/25/2035,

Ser.

2005-A5,

Class

M1

b

375,394

New

Residential

Mortgage

Loan

Trust

641,624

4.335%, 

7/25/2050,

Ser.

2020-NPL1,

Class

A1

g,h

641,550

Oaktown

Re

II,

Ltd.

154,915

1.722%, 

(LIBOR

1M

+

1.550%),

7/25/2028,

Ser.

2018-1A,

Class

M1

b,g

154,204

Oaktown

Re

III,

Ltd.

103,337

1.572%, 

(LIBOR

1M

+

1.400%),

7/25/2029,

Ser.

2019-1A,

Class

M1A

b,g

103,233

Preston

Ridge

Partners

Mortgage

Trust,

LLC

308,145

4.500%, 

1/25/2024,

Ser.

2019-1A,

Class

A1

g,h

310,125

1,273,086

3.967%, 

4/25/2024,

Ser.

2019-2A,

Class

A1

g,h

1,283,552

1,497,659

3.500%, 

10/25/2024,

Ser.

2019-GS1,

Class

A1

b,g

1,490,251

1,224,557

4.750%, 

10/25/2024,

Ser.

2019-GS1,

Class

A2

b,g

1,200,884

509,094

3.351%, 

11/25/2024,

Ser.

2019-4A,

Class

A1

g,h

505,742

Pretium

Mortgage

Credit

Partners,

LLC

1,137,157

2.858%, 

5/27/2059,

Ser.

2020-NPL1,

Class

A1

g,h

1,126,323

Radnor

RE,

Ltd.

109,906

1.572%, 

(LIBOR

1M

+

1.400%),

3/25/2028,

Ser.

2018-1,

Class

M1

b,g

109,714

RCO

Mortgage,

LLC

902,148

3.475%, 

11/25/2024,

Ser.

2019-2,

Class

A1

g,h

898,337

639,560

3.197%, 

11/25/2052,

Ser.

2017-INV1,

Class

A

b,g

645,555

Residential

Accredit

Loans,

Inc.

Trust

574,949

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

575,793

329,375

5.750%, 

9/25/2035,

Ser.

2005-QS13,

Class

2A3

327,152

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

245

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Collateralized

Mortgage

Obligations

(9.3%)

-

continued

$

269,298

6.000%, 

1/25/2037,

Ser.

2007-QS1,

Class

1A1

$

257,366

878,095

5.750%, 

4/25/2037,

Ser.

2007-QS6,

Class

A28

832,241

295,800

6.250%, 

4/25/2037,

Ser.

2007-QS6,

Class

A6

288,346

Residential

Asset

Securitization

Trust

307,042

6.212%, 

8/25/2022,

Ser.

2007-A8,

Class

3A1

b

226,129

1,414,813

5.500%, 

4/25/2035,

Ser.

2005-A1,

Class

A3

1,478,867

85,333

5.750%, 

2/25/2036,

Ser.

2005-A15,

Class

5A1

53,819

Residential

Funding

Mortgage

Security

I

Trust

376,738

6.000%, 

7/25/2037,

Ser.

2007-S7,

Class

A20

350,218

Sequoia

Mortgage

Trust

375,040

3.530%, 

9/20/2046,

Ser.

2007-1,

Class

4A1

b

286,047

Silver

Hill

Trust

1,270,999

3.102%, 

11/25/2049,

Ser.

2019-SBC1,

Class

A1

b,g

1,294,453

Stanwich

Mortgage

Loan

Trust

645,313

3.475%, 

11/16/2024,

Ser.

2019-NPB2,

Class

A1

g,h

638,892

Starwood

Mortgage

Residential

Trust

748,592

4.121%, 

10/25/2048,

Ser.

2018-IMC2,

Class

A1

b,g

772,061

1,375,000

3.970%, 

4/25/2060,

Ser.

2020-2,

Class

A2

b,g

1,378,025

Structured

Adjustable

Rate

Mortgage

Loan

Trust

184,296

3.712%, 

7/25/2035,

Ser.

2005-15,

Class

4A1

b

163,560

Structured

Asset

Mortgage

Investments,

Inc.

435,705

0.482%, 

(LIBOR

1M

+

0.310%),

12/25/2035,

Ser.

2005-AR4,

Class

A1

b

400,368

Toorak

Mortgage

Corporation

1,750,000

4.336%, 

8/25/2021,

Ser.

2018-1,

Class

A1

g,h

1,751,698

2,350,000

4.458%, 

3/25/2022,

Ser.

2019-1,

Class

A1

g,h

2,363,532

1,500,000

2.734%, 

3/25/2023,

Ser.

2020-1,

Class

A1

g,h

1,471,334

Vericrest

Opportunity

Loan

Transferee

469,888

2.981%, 

3/25/2050,

Ser.

2020-NPL4,

Class

A1

g,h

462,488

1,000,000

3.475%, 

3/25/2050,

Ser.

2020-NPL5,

Class

A1B

g,h

968,744

867,332

3.352%, 

8/25/2049,

Ser.

2019-NPL4,

Class

A1A

g,h

868,236

3,700,000

4.090%, 

11/25/2049,

Ser.

2019-NPL8,

Class

A1B

g,h

3,570,968

2,200,000

4.090%, 

11/26/2049,

Ser.

2019-NPL9,

Class

A1B

g,h

2,144,594

391,595

3.426%, 

12/27/2049,

Ser.

2019-NP10,

Class

A1A

g,h

390,915

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Collateralized

Mortgage

Obligations

(9.3%)

-

continued

Verus

Securitization

Trust

$

813,447

3.345%, 

5/25/2059,

Ser.

2019-2,

Class

A2

b,g

$

810,104

Wachovia

Asset

Securitization,

Inc.

617,394

0.312%, 

(LIBOR

1M

+

0.140%),

7/25/2037,

Ser.

2007-HE1,

Class

A

b,g,l

533,302

WaMu

Mortgage

Pass

Through

Certificates

376,419

3.711%, 

10/25/2036,

Ser.

2006-AR12,

Class

1A1

b

357,651

871,492

2.202%, 

(12

MTA

+

0.880%),

10/25/2046,

Ser.

2006-AR13,

Class

1A

b

771,065

Washington

Mutual

Mortgage

Pass-Through

Certificates

334,185

6.000%, 

3/25/2035,

Ser.

2005-1,

Class

2A

333,185

Wells

Fargo

Home

Equity

Trust

349,652

0.672%, 

(LIBOR

1M

+

0.500%),

4/25/2034,

Ser.

2004-1,

Class

M1

b

333,410

Total

70,964,052

Commercial

Mortgage-Backed

Securities

(0.3%)

Federal

National

Mortgage

Association

-

ACES

22,008,004

1.345%, 

2/25/2031,

Ser.

2019-M21,

Class

X2

b,k

2,380,078

Total

2,380,078

Communications

Services

(3.0%)

Altice

France

SA

270,000

5.500%, 

1/15/2028

g

284,850

AMC

Networks,

Inc.

275,000

5.000%, 

4/1/2024

279,469

American

Tower

Corporation

184,000

3.375%, 

5/15/2024

201,305

126,000

2.950%, 

1/15/2025

137,301

AT&T,

Inc.

496,000

4.450%, 

4/1/2024

559,043

CCO

Holdings,

LLC

500,000

5.500%, 

5/1/2026

g

528,900

360,000

5.125%, 

5/1/2027

g

381,937

370,000

4.500%, 

8/15/2030

g

392,163

270,000

4.250%, 

2/1/2031

g

281,607

CCOH

Safari,

LLC

840,000

5.750%, 

2/15/2026

g

877,800

Charter

Communications

Operating,

LLC

197,000

4.500%, 

2/1/2024

218,948

120,000

4.908%, 

7/23/2025

139,118

Clear

Channel

Worldwide

Holdings,

Inc.

500,000

5.125%, 

8/15/2027

g

490,000

Comcast

Corporation

118,000

3.700%, 

4/15/2024

131,338

118,000

3.950%, 

10/15/2025

136,671

Cox

Communications,

Inc.

186,000

2.950%, 

6/30/2023

g

197,473

Crown

Castle

International

Corporation

124,000

4.450%, 

2/15/2026

145,129

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

246

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Communications

Services

(3.0%)

-

continued

CSC

Holdings,

LLC

$

945,000

5.500%, 

5/15/2026

g

$

991,069

60,000

5.500%, 

4/15/2027

g

64,350

250,000

4.125%, 

12/1/2030

g

263,437

Deutsche

Telekom

International

Finance

BV

127,000

2.485%, 

9/19/2023

g

133,227

Discovery

Communications,

LLC

122,000

2.950%, 

3/20/2023

128,378

Embarq

Corporation

370,000

7.995%, 

6/1/2036

433,640

Entercom

Media

Corporation

230,000

6.500%, 

5/1/2027

g

205,275

Fox

Corporation

242,000

4.030%, 

1/25/2024

268,370

Front

Range

BidCo

,

Inc.

560,000

4.000%, 

3/1/2027

g

561,238

Gray

Escrow,

Inc.

390,000

7.000%, 

5/15/2027

g

426,075

Gray

Television,

Inc.

60,000

5.875%, 

7/15/2026

g

62,077

iHeartCommunications

,

Inc.

190,000

4.750%, 

1/15/2028

g

188,632

Lamar

Media

Corporation

350,000

3.750%, 

2/15/2028

g

353,062

Level

3

Financing,

Inc.

500,000

5.250%, 

3/15/2026

522,235

265,000

4.625%, 

9/15/2027

g

278,581

480,000

4.250%, 

7/1/2028

g

500,400

Moody's

Corporation

117,000

2.750%, 

12/15/2021

120,298

Neptune

Finco

Corporation

306,000

10.875%, 

10/15/2025

g

328,063

Netflix,

Inc.

885,000

4.875%, 

4/15/2028

1,028,742

Nexstar

Escrow

Corporation

240,000

5.625%, 

8/1/2024

g

246,600

460,000

5.625%, 

7/15/2027

g

492,338

SBA

Communications

Corporation

280,000

3.875%, 

2/15/2027

g

289,800

SFR

Group

SA

570,000

7.375%, 

5/1/2026

g

607,990

Sirius

XM

Radio,

Inc.

800,000

5.000%, 

8/1/2027

g

852,656

370,000

4.125%, 

7/1/2030

g

390,461

Sprint

Capital

Corporation

370,000

6.875%, 

11/15/2028

479,779

Sprint

Corporation

820,000

7.250%, 

9/15/2021

867,150

905,000

7.625%, 

2/15/2025

1,099,186

Telesat

Canada

/

Telesat

,

LLC

650,000

4.875%, 

6/1/2027

g

659,750

T-Mobile

USA,

Inc.

231,000

3.500%, 

4/15/2025

g

255,211

920,000

4.500%, 

2/1/2026

947,600

Univision

Communications,

Inc.

290,000

6.625%, 

6/1/2027

g

290,812

VeriSign,

Inc.

500,000

4.750%, 

7/15/2027

542,890

Verizon

Communications,

Inc.

287,000

2.946%, 

3/15/2022

299,052

252,000

1.492%, 

(LIBOR

3M

+

1.100%),

5/15/2025

b

257,902

Viacom,

Inc.

178,000

4.250%, 

9/1/2023

194,861

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Communications

Services

(3.0%)

-

continued

$

107,000

5.875%, 

2/28/2057

b

$

111,688

Virgin

Media

Secured

Finance

plc

680,000

5.500%, 

8/15/2026

g

722,357

Vodafone

Group

plc

189,000

3.750%, 

1/16/2024

207,510

Walt

Disney

Company

134,000

1.750%, 

1/13/2026

140,024

Windstream

Services,

LLC

360,000

8.625%, 

10/31/2025

f,g

216,000

Ziggo

BV

550,000

5.500%, 

1/15/2027

g

580,970

Total

22,992,788

Consumer

Cyclical

(2.6%)

1011778

B.C.,

ULC

740,000

4.375%, 

1/15/2028

g

769,696

Allied

Universal

Holdco,

LLC

280,000

6.625%, 

7/15/2026

g

299,600

Allison

Transmission,

Inc.

670,000

5.000%, 

10/1/2024

g

682,897

Amazon.com,

Inc.

136,000

0.800%, 

6/3/2025

138,077

American

Honda

Finance

Corporation

187,000

2.050%, 

1/10/2023

193,837

135,000

1.200%, 

7/8/2025

137,023

BMW

Finance

NV

125,000

2.250%, 

8/12/2022

g

128,843

Brookfield

Property

REIT,

Inc.

150,000

5.750%, 

5/15/2026

g

124,033

Brookfield

Residential

Properties,

Inc.

750,000

6.250%, 

9/15/2027

g

750,000

Carnival

Corporation

190,000

10.500%, 

2/1/2026

g

196,690

Cedar

Fair,

LP

310,000

5.250%, 

7/15/2029

292,857

Colt

Merger

Sub,

Inc.

390,000

6.250%, 

7/1/2025

g

408,330

D.R.

Horton,

Inc.

188,000

2.550%, 

12/1/2020

189,285

69,000

2.600%, 

10/15/2025

73,719

Daimler

Finance

North

America,

LLC

124,000

2.550%, 

8/15/2022

g

128,176

Dana,

Inc.

380,000

5.625%, 

6/15/2028

399,000

Ford

Motor

Company

160,000

9.000%, 

4/22/2025

188,500

90,000

9.625%, 

4/22/2030

119,411

Ford

Motor

Credit

Company,

LLC

880,000

4.063%, 

11/1/2024

899,536

995,000

4.134%, 

8/4/2025

1,019,775

General

Motors

Company

225,000

5.400%, 

10/2/2023

248,102

General

Motors

Financial

Company,

Inc.

174,000

4.375%, 

9/25/2021

179,947

118,000

4.200%, 

11/6/2021

122,048

116,000

3.150%, 

6/30/2022

119,215

245,000

3.950%, 

4/13/2024

261,276

199,000

2.900%, 

2/26/2025

205,912

135,000

2.750%, 

6/20/2025

139,220

Hanesbrands,

Inc.

540,000

4.875%, 

5/15/2026

g

588,600

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

247

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Consumer

Cyclical

(2.6%)

-

continued

Harley-Davidson

Financial

Services,

Inc.

$

211,000

4.050%, 

2/4/2022

g

$

219,173

Herc

Holdings,

Inc.

230,000

5.500%, 

7/15/2027

g

243,225

Hilton

Domestic

Operating

Company,

Inc.

710,000

4.875%, 

1/15/2030

745,500

Home

Depot,

Inc.

140,000

3.750%, 

2/15/2024

155,378

Hyundai

Capital

America

189,000

3.000%, 

6/20/2022

g

193,685

International

Game

Technology

plc

385,000

5.250%, 

1/15/2029

g

393,389

KB

Home

310,000

4.800%, 

11/15/2029

322,400

Kohl's

Corporation

176,000

9.500%, 

5/15/2025

209,831

Landry's,

Inc.

370,000

6.750%, 

10/15/2024

g

259,000

Lennar

Corporation

175,000

2.950%, 

11/29/2020

174,276

66,000

4.125%, 

1/15/2022

67,568

201,000

4.875%, 

12/15/2023

216,620

870,000

4.500%, 

4/30/2024

941,775

67,000

5.875%, 

11/15/2024

75,951

Lowe's

Companies,

Inc.

140,000

4.000%, 

4/15/2025

160,512

Mattamy

Group

Corporation

630,000

5.250%, 

12/15/2027

g

653,625

McDonald's

Corporation

248,000

3.350%, 

4/1/2023

266,128

MGM

Resorts

International

190,000

6.000%, 

3/15/2023

198,550

450,000

5.750%, 

6/15/2025

464,625

Norwegian

Cruise

Line

Holdings,

Ltd.

180,000

10.250%, 

2/1/2026

g

179,325

Prime

Security

Services

Borrower,

LLC

750,000

5.750%, 

4/15/2026

g

832,500

Ralph

Lauren

Corporation

136,000

1.700%, 

6/15/2022

138,872

Royal

Caribbean

Cruises,

Ltd.

190,000

9.125%, 

6/15/2023

g

194,275

Scientific

Games

International,

Inc.

360,000

5.000%, 

10/15/2025

g

356,850

ServiceMaster

Company,

LLC

690,000

5.125%, 

11/15/2024

g

710,700

Six

Flags

Entertainment

Corporation

200,000

5.500%, 

4/15/2027

g,i

189,000

Six

Flags

Theme

Parks,

Inc.

170,000

7.000%, 

7/1/2025

g

182,463

Staples,

Inc.

400,000

7.500%, 

4/15/2026

g

350,920

Target

Corporation

140,000

2.250%, 

4/15/2025

150,621

TJX

Companies,

Inc.

141,000

3.500%, 

4/15/2025

157,196

VF

Corporation

152,000

2.050%, 

4/23/2022

155,984

Volkswagen

Group

of

America

Finance,

LLC

200,000

4.250%, 

11/13/2023

g

220,868

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Consumer

Cyclical

(2.6%)

-

continued

$

68,000

3.350%, 

5/13/2025

g

$

74,199

Wyndham

Destinations,

Inc.

230,000

6.625%, 

7/31/2026

g

237,396

Yum!

Brands,

Inc.

600,000

4.750%, 

1/15/2030

g

651,000

Total

19,746,985

Consumer

Non-Cyclical

(3.3%)

Abbott

Laboratories

234,000

2.550%, 

3/15/2022

242,538

123,000

3.400%, 

11/30/2023

134,281

AbbVie,

Inc.

117,000

2.900%, 

11/6/2022

123,074

246,000

2.300%, 

11/21/2022

g

255,245

126,000

2.800%, 

3/15/2023

g

131,294

555,000

3.600%, 

5/14/2025

621,398

Albertson's

Companies,

Inc.

670,000

6.625%, 

6/15/2024

697,202

170,000

4.875%, 

2/15/2030

g

184,110

Altria

Group,

Inc.

204,000

3.800%, 

2/14/2024

224,220

124,000

4.400%, 

2/14/2026

144,218

Amgen,

Inc.

201,000

1.900%, 

2/21/2025

211,455

Anheuser-Busch

Companies,

LLC

124,000

3.650%, 

2/1/2026

141,124

Anheuser-Busch

InBev

Worldwide,

Inc.

178,000

4.150%, 

1/23/2025

203,378

Anthem,

Inc.

210,000

2.375%, 

1/15/2025

224,669

Aramark

Services,

Inc.

340,000

6.375%, 

5/1/2025

g

359,152

BAT

Capital

Corporation

117,000

2.764%, 

8/15/2022

121,618

178,000

3.222%, 

8/15/2024

192,174

Bausch

Health

Companies,

Inc.

345,000

7.000%, 

1/15/2028

g

375,187

90,000

5.000%, 

1/30/2028

g

90,448

Bayer

U.S.

Finance

II,

LLC

225,000

3.500%, 

6/25/2021

g

230,433

Boston

Scientific

Corporation

280,000

3.450%, 

3/1/2024

305,522

Bristol-Myers

Squibb

Company

178,000

3.625%, 

5/15/2024

197,177

Bunge,

Ltd.

Finance

Corporation

160,000

3.500%, 

11/24/2020

161,120

Cargill,

Inc.

141,000

1.375%, 

7/23/2023

g

144,459

Centene

Corporation

710,000

4.750%, 

1/15/2025

735,787

200,000

5.375%, 

8/15/2026

g

214,000

190,000

4.250%, 

12/15/2027

201,875

280,000

4.625%, 

12/15/2029

312,273

Cigna

Corporation

235,000

4.125%, 

11/15/2025

272,251

Conagra

Brands,

Inc.

118,000

3.800%, 

10/22/2021

122,705

118,000

4.300%, 

5/1/2024

131,991

Constellation

Brands,

Inc.

252,000

4.250%, 

5/1/2023

277,176

CVS

Health

Corporation

117,000

2.750%, 

12/1/2022

122,478

382,000

3.700%, 

3/9/2023

411,103

252,000

4.100%, 

3/25/2025

286,398

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

248

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Consumer

Non-Cyclical

(3.3%)

-

continued

DaVita,

Inc.

$

430,000

4.625%, 

6/1/2030

g

$

457,541

Diageo

Capital

plc

161,000

1.375%, 

9/29/2025

166,426

Edgewell

Personal

Care

Company

180,000

5.500%, 

6/1/2028

g

194,850

Encompass

Health

Corporation

565,000

4.500%, 

2/1/2028

590,425

Energizer

Holdings,

Inc.

745,000

6.375%, 

7/15/2026

g

794,118

General

Mills,

Inc.

126,000

3.700%, 

10/17/2023

138,219

126,000

3.650%, 

2/15/2024

138,408

HCA,

Inc.

1,340,000

5.375%, 

2/1/2025

1,510,850

Imperial

Brands

Finance

plc

127,000

3.125%, 

7/26/2024

g

134,874

JBS

USA,

LLC

355,000

5.750%, 

6/15/2025

g

364,319

340,000

5.500%, 

1/15/2030

g

374,850

Kellogg

Company

254,000

3.125%, 

5/17/2022

i

265,119

Keurig

Dr

Pepper,

Inc.

252,000

3.551%, 

5/25/2021

258,317

Kraft

Foods

Group,

Inc.

440,000

5.000%, 

6/4/2042

492,386

Kraft

Heinz

Foods

Company

640,000

4.625%, 

1/30/2029

729,069

670,000

3.750%, 

4/1/2030

g

725,994

Kroger

Company

122,000

2.800%, 

8/1/2022

127,428

Medtronic,

Inc.

68,000

3.500%, 

3/15/2025

76,854

Molina

Healthcare,

Inc.

330,000

4.375%, 

6/15/2028

g

350,635

Mondelez

International

Holdings

Netherlands

BV

180,000

2.000%, 

10/28/2021

g

183,120

Mondelez

International,

Inc.

77,000

2.125%, 

4/13/2023

80,298

Mylan

NV

173,000

3.150%, 

6/15/2021

176,553

Mylan,

Inc.

127,000

4.200%, 

11/29/2023

139,647

Novartis

Capital

Corporation

133,000

1.750%, 

2/14/2025

140,177

Par

Pharmaceutical,

Inc.

360,000

7.500%, 

4/1/2027

g

382,907

PepsiCo,

Inc.

206,000

2.250%, 

3/19/2025

221,892

Pernod

Ricard

SA

130,000

5.750%, 

4/7/2021

g

134,678

Philip

Morris

International,

Inc.

215,000

1.500%, 

5/1/2025

222,385

Pilgrim's

Pride

Corporation

500,000

5.875%, 

9/30/2027

g

528,750

Post

Holdings,

Inc.

260,000

5.750%, 

3/1/2027

g

276,900

QBE

Insurance

Group,

Ltd.

156,000

5.875%, 

5/12/2025

b,g,j

163,410

Reynolds

American,

Inc.

126,000

4.850%, 

9/15/2023

141,435

Scotts

Miracle-

Gro

Company

410,000

4.500%, 

10/15/2029

434,087

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Consumer

Non-Cyclical

(3.3%)

-

continued

Shire

Acquisitions

Investments

Ireland

Designated

Activity

Company

$

232,000

2.400%, 

9/23/2021

$

236,631

Simmons

Foods,

Inc.

285,000

5.750%, 

11/1/2024

g

286,425

Spectrum

Brands,

Inc.

170,000

5.750%, 

7/15/2025

175,100

180,000

5.000%, 

10/1/2029

g

185,400

140,000

5.500%, 

7/15/2030

g

145,250

Sysco

Corporation

273,000

5.650%, 

4/1/2025

323,377

Teleflex,

Inc.

650,000

4.625%, 

11/15/2027

702,825

Tenet

Healthcare

Corporation

180,000

4.625%, 

7/15/2024

184,050

620,000

5.125%, 

11/1/2027

g

658,750

Teva

Pharmaceutical

Finance

Netherlands

III

BV

43,000

2.200%, 

7/21/2021

42,678

450,000

2.800%, 

7/21/2023

436,410

Thermo

Fisher

Scientific,

Inc.

138,000

4.133%, 

3/25/2025

158,934

UnitedHealth

Group,

Inc.

160,000

3.350%, 

7/15/2022

169,644

Upjohn,

Inc.

135,000

1.650%, 

6/22/2025

g

138,832

VRX

Escrow

Corporation

1,450,000

6.125%, 

4/15/2025

g

1,497,125

Zoetis,

Inc.

175,000

3.450%, 

11/13/2020

176,053

189,000

3.250%, 

2/1/2023

200,629

Total

25,638,567

Energy

(2.5%)

Antero

Resources

Corporation

255,000

5.000%, 

3/1/2025

161,606

Apache

Corporation

290,000

4.375%, 

10/15/2028

i

289,638

220,000

5.100%, 

9/1/2040

213,950

Archrock

Partners,

LP

390,000

6.250%, 

4/1/2028

g

393,900

BP

Capital

Markets

America,

Inc.

490,000

2.520%, 

9/19/2022

509,121

141,000

2.937%, 

4/6/2023

149,643

BP

Capital

Markets

plc

156,000

4.875%, 

3/22/2030

b,j

167,310

Buckeye

Partners,

LP

540,000

3.950%, 

12/1/2026

535,950

210,000

4.125%, 

12/1/2027

204,750

Canadian

Natural

Resources,

Ltd.

120,000

2.950%, 

1/15/2023

124,913

136,000

2.050%, 

7/15/2025

139,045

Canadian

Oil

Sands,

Ltd.

125,000

9.400%, 

9/1/2021

g

132,983

Cheniere

Energy

Partners,

LP

885,000

5.625%, 

10/1/2026

934,781

Chesapeake

Energy

Corporation

223,000

11.500%, 

1/1/2025

g,m,n

20,628

Chevron

Corporation

69,000

1.141%, 

5/11/2023

70,547

136,000

1.554%, 

5/11/2025

141,733

Comstock

Resources,

Inc.

200,000

9.750%, 

8/15/2026

199,936

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

249

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Energy

(2.5%)

-

continued

Continental

Resources,

Inc.

$

284,000

5.000%, 

9/15/2022

$

284,000

184,000

4.500%, 

4/15/2023

183,787

DCP

Midstream

Operating,

LP

280,000

5.625%, 

7/15/2027

290,500

Diamondback

Energy,

Inc.

123,000

2.875%, 

12/1/2024

125,007

Enagas

SA

730,000

5.500%, 

1/15/2028

g

649,612

Enbridge,

Inc.

120,000

2.900%, 

7/15/2022

124,868

459,000

6.250%, 

3/1/2078

b

454,410

Endeavor

Energy

Resources,

LP

130,000

6.625%, 

7/15/2025

g

136,582

120,000

5.500%, 

1/30/2026

g

120,600

330,000

5.750%, 

1/30/2028

g

338,663

Energy

Transfer

Operating,

LP

126,000

4.200%, 

9/15/2023

133,076

252,000

5.875%, 

1/15/2024

277,650

143,000

6.625%, 

2/15/2028

b,j

102,960

EnLink

Midstream

Partners,

LP

290,000

4.850%, 

7/15/2026

224,791

190,000

5.600%, 

4/1/2044

105,450

Enterprise

Products

Operating,

LLC

355,000

4.875%, 

8/16/2077

b

315,063

EOG

Resources,

Inc.

160,000

2.625%, 

3/15/2023

168,357

EQM

Midstream

Partners

LP

320,000

6.500%, 

7/1/2027

g

352,832

EQM

Midstream

Partners,

LP

150,000

5.500%, 

7/15/2028

155,520

EQT

Corporation

480,000

3.900%, 

10/1/2027

i

452,304

Equinor

ASA

139,000

2.875%, 

4/6/2025

152,079

Exxon

Mobil

Corporation

227,000

1.571%, 

4/15/2023

234,276

135,000

2.992%, 

3/19/2025

148,515

Hess

Corporation

126,000

3.500%, 

7/15/2024

128,115

Kinder

Morgan

Energy

Partners,

LP

234,000

3.450%, 

2/15/2023

246,705

Marathon

Petroleum

Corporation

126,000

4.750%, 

12/15/2023

139,087

MPLX,

LP

175,000

4.500%, 

7/15/2023

189,068

Murphy

Oil

Corporation

255,000

5.875%, 

12/1/2027

234,600

Nabors

Industries,

Inc.

410,000

5.750%, 

2/1/2025

161,950

Nabors

Industries,

Ltd.

320,000

7.250%, 

1/15/2026

g

202,099

National

Fuel

Gas

Company

82,000

5.500%, 

1/15/2026

88,652

Newfield

Exploration

Company

202,000

5.625%, 

7/1/2024

201,808

Noble

Energy,

Inc.

217,000

3.900%, 

11/15/2024

241,617

Occidental

Petroleum

Corporation

280,000

2.700%, 

8/15/2022

270,306

540,000

2.900%, 

8/15/2024

508,113

180,000

3.400%, 

4/15/2026

162,900

175,000

8.500%, 

7/15/2027

194,880

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Energy

(2.5%)

-

continued

$

340,000

3.500%, 

8/15/2029

$

302,182

190,000

6.450%, 

9/15/2036

190,040

470,000

4.400%, 

4/15/2046

382,909

ONEOK,

Inc.

67,000

2.200%, 

9/15/2025

65,850

Parsley

Energy,

LLC

460,000

5.625%, 

10/15/2027

g

481,850

Plains

All

American

Pipeline,

LP

273,000

5.000%, 

2/1/2021

275,029

307,000

6.125%, 

11/15/2022

b,j

214,516

63,000

2.850%, 

1/31/2023

63,867

64,000

3.600%, 

11/1/2024

66,003

QEP

Resources,

Inc.

190,000

5.625%, 

3/1/2026

110,675

Sabine

Pass

Liquefaction,

LLC

117,000

6.250%, 

3/15/2022

125,179

117,000

5.625%, 

4/15/2023

128,930

Shell

International

Finance

BV

139,000

2.375%, 

4/6/2025

149,202

Southwestern

Energy

Company

495,000

7.500%, 

4/1/2026

464,434

Suncor

Energy,

Inc.

135,000

3.100%, 

5/15/2025

146,920

Sunoco

Logistics

Partners

Operations,

LP

160,000

4.400%, 

4/1/2021

163,116

Sunoco,

LP

315,000

5.875%, 

3/15/2028

329,175

Targa

Resources

Partners,

LP

620,000

5.375%, 

2/1/2027

640,565

Transocean

Guardian,

Ltd.

327,601

5.875%, 

1/15/2024

g

289,107

W&T

Offshore,

Inc.

450,000

9.750%, 

11/1/2023

g

299,988

Western

Gas

Partners,

LP

120,000

4.000%, 

7/1/2022

123,838

Western

Midstream

Operating,

LP

150,000

5.250%, 

2/1/2050

148,125

260,000

3.100%, 

2/1/2025

259,376

270,000

3.950%, 

6/1/2025

268,650

Williams

Partners,

LP

250,000

4.000%, 

11/15/2021

258,635

198,000

4.500%, 

11/15/2023

217,073

WPX

Energy,

Inc.

110,000

5.750%, 

6/1/2026

112,200

200,000

5.250%, 

10/15/2027

197,250

170,000

4.500%, 

1/15/2030

158,253

Total

19,524,173

Financials

(6.7%)

ACE

INA

Holdings,

Inc.

160,000

2.875%, 

11/3/2022

168,324

AerCap

Ireland

Capital,

Ltd.

124,000

3.500%, 

1/15/2025

118,657

150,000

6.500%, 

7/15/2025

160,940

Air

Lease

Corporation

235,000

2.500%, 

3/1/2021

235,747

Aircastle

,

Ltd.

168,000

5.000%, 

4/1/2023

168,400

Ally

Financial,

Inc.

470,000

5.750%, 

11/20/2025

530,594

American

Express

Company

127,000

3.700%, 

8/3/2023

138,399

124,000

3.400%, 

2/22/2024

135,797

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

250

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Financials

(6.7%)

-

continued

American

International

Group,

Inc.

$

68,000

2.500%, 

6/30/2025

$

72,716

Athene

Global

Funding

187,000

4.000%, 

1/25/2022

g

194,639

Australia

and

New

Zealand

Banking

Group,

Ltd.

230,000

2.950%, 

7/22/2030

b,g

238,591

Aviation

Capital

Group,

LLC

122,000

5.500%, 

12/15/2024

g

124,956

Avolon

Holdings

Funding,

Ltd.

62,000

5.250%, 

5/15/2024

g

57,859

BAC

Capital

Trust

XIV

138,000

4.000%, 

(LIBOR

3M

+

0.400%),

8/19/2020

b,j

127,719

Banco

Santander

Mexico

SA

87,000

5.375%, 

4/17/2025

g

96,444

Banco

Santander

SA

200,000

1.386%, 

(LIBOR

3M

+

1.120%),

4/12/2023

b

199,837

Bank

of

America

Corporation

250,000

2.738%, 

1/23/2022

b

252,554

252,000

3.499%, 

5/17/2022

b

257,897

237,000

3.004%, 

12/20/2023

b

249,814

373,000

3.550%, 

3/5/2024

b

399,705

293,000

5.125%, 

6/20/2024

b,j

302,180

585,000

3.864%, 

7/23/2024

b

638,740

285,000

4.200%, 

8/26/2024

319,485

561,000

6.250%, 

9/5/2024

b,j

609,646

124,000

3.458%, 

3/15/2025

b

135,506

339,000

1.319%, 

6/19/2026

b

343,288

306,000

5.875%, 

3/15/2028

b,j

325,890

Bank

of

Montreal

378,000

3.300%, 

2/5/2024

412,747

Bank

of

New

York

Mellon

Corporation

234,000

2.600%, 

2/7/2022

241,969

140,000

1.600%, 

4/24/2025

146,179

78,000

4.700%, 

9/20/2025

b,j

84,457

Bank

of

Nova

Scotia

247,000

2.375%, 

1/18/2023

258,571

133,000

1.950%, 

2/1/2023

137,651

96,000

1.625%, 

5/1/2023

98,950

234,000

4.900%, 

6/4/2025

b,j

240,402

Barclays

plc

225,000

4.610%, 

2/15/2023

b

237,223

299,000

4.338%, 

5/16/2024

b

324,261

152,000

8.000%, 

6/15/2024

b,j

160,930

162,000

2.852%, 

5/7/2026

b

171,717

BB&T

Corporation

127,000

2.500%, 

8/1/2024

136,011

BNP

Paribas

SA

156,000

7.625%, 

3/30/2021

b,g,j

159,549

149,000

2.819%, 

11/19/2025

b,g

158,263

BPCE

SA

126,000

3.000%, 

5/22/2022

g

130,646

133,000

2.375%, 

1/14/2025

g

139,315

Camden

Property

Trust

126,000

4.875%, 

6/15/2023

138,554

Canadian

Imperial

Bank

of

Commerce

133,000

2.250%, 

1/28/2025

140,799

Capital

One

Bank

USA

NA

189,000

3.375%, 

2/15/2023

199,990

199,000

2.280%, 

1/28/2026

b

206,998

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Financials

(6.7%)

-

continued

Capital

One

Financial

Corporation

$

354,000

3.050%, 

3/9/2022

$

367,290

Cascades

USA,

Inc.

380,000

5.125%, 

1/15/2026

g

392,350

Central

Fidelity

Capital

Trust

I

310,000

1.275%, 

(LIBOR

3M

+

1.000%),

4/15/2027

b

280,737

Charles

Schwab

Corporation

600,000

5.375%, 

6/1/2025

b,j

657,000

CIT

Group,

Inc.

565,000

4.750%, 

2/16/2024

584,775

Citigroup,

Inc.

363,000

2.350%, 

8/2/2021

370,108

116,000

2.750%, 

4/25/2022

120,367

125,000

0.935%, 

(LIBOR

3M

+

0.690%),

10/27/2022

b

125,627

491,000

2.312%, 

11/4/2022

b

501,522

244,000

3.142%, 

1/24/2023

b

252,604

276,000

5.000%, 

9/12/2024

b,j

276,690

444,000

4.700%, 

1/30/2025

b,j

432,345

373,000

3.352%, 

4/24/2025

b

406,031

138,000

5.950%, 

5/15/2025

b,j

147,315

129,000

5.500%, 

9/13/2025

153,833

CNA

Financial

Corporation

128,000

5.750%, 

8/15/2021

134,898

145,000

3.950%, 

5/15/2024

159,669

Comerica,

Inc.

78,000

5.625%, 

7/1/2025

b,j

83,288

Compass

Bank

250,000

3.500%, 

6/11/2021

255,260

Cooperatieve

Centrale

Raiffeisen-

Boerenleenbank

BA

232,000

3.950%, 

11/9/2022

247,119

Cooperatieve

Rabobank

UA

135,000

1.339%, 

6/24/2026

b,g

137,146

Credit

Acceptance

Corporation

280,000

5.125%, 

12/31/2024

g

285,040

Credit

Agricole

SA

116,000

3.375%, 

1/10/2022

g

120,316

156,000

8.125%, 

12/23/2025

b,g,j

181,740

135,000

1.907%, 

6/16/2026

b,g

138,924

Credit

Suisse

AG

250,000

2.800%, 

4/8/2022

259,814

Credit

Suisse

Group

AG

207,000

7.500%, 

12/11/2023

b,g,j

226,924

122,000

2.593%, 

9/11/2025

b,g

127,660

250,000

2.193%, 

6/5/2026

b,g

257,638

Credit

Suisse

Group

Funding

(Guernsey),

Ltd.

350,000

3.800%, 

9/15/2022

371,998

Dai-ichi

Life

Insurance

Company,

Ltd.

350,000

5.100%, 

10/28/2024

b,g,j

392,875

Danske

Bank

AS

200,000

5.000%, 

1/12/2023

b,g

209,888

Deutsche

Bank

AG

348,000

4.250%, 

10/14/2021

359,280

200,000

6.000%, 

10/30/2025

b,j

174,060

Deutsche

Bank

AG

of

New

York

123,000

3.950%, 

2/27/2023

129,431

Digital

Realty

Trust,

LP

185,000

2.750%, 

2/1/2023

194,369

Discover

Bank

126,000

4.200%, 

8/8/2023

138,891

183,000

2.450%, 

9/12/2024

194,128

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

251

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Financials

(6.7%)

-

continued

ESH

Hospitality,

Inc.

$

260,000

5.250%, 

5/1/2025

g

$

265,585

140,000

4.625%, 

10/1/2027

g

134,722

Fidelity

National

Financial,

Inc.

184,000

5.500%, 

9/1/2022

198,361

Fifth

Third

Bancorp

175,000

2.600%, 

6/15/2022

181,429

124,000

3.650%, 

1/25/2024

136,071

148,000

4.500%, 

9/30/2025

b,j

150,590

First

Horizon

National

Corporation

163,000

3.550%, 

5/26/2023

170,914

Five

Corners

Funding

Trust

275,000

4.419%, 

11/15/2023

g

307,079

FNB

Corporation

268,000

2.200%, 

2/24/2023

267,851

GE

Capital

Funding,

LLC

200,000

3.450%, 

5/15/2025

g

210,947

General

Electric

Capital

Corporation

247,000

3.100%, 

1/9/2023

260,476

Goldman

Sachs

Group,

Inc.

409,000

4.370%, 

(LIBOR

3M

+

3.922%),

9/3/2020

b,j

397,241

234,000

5.250%, 

7/27/2021

245,067

175,000

1.562%, 

(LIBOR

3M

+

1.170%),

11/15/2021

b

175,500

234,000

3.000%, 

4/26/2022

238,270

187,000

2.876%, 

10/31/2022

b

191,995

120,000

1.377%, 

(LIBOR

3M

+

1.050%),

6/5/2023

b

120,771

248,000

3.625%, 

2/20/2024

271,532

295,000

5.500%, 

8/10/2024

b,j

316,756

141,000

3.500%, 

4/1/2025

156,208

185,000

3.272%, 

9/29/2025

b

201,866

Hartford

Financial

Services

Group,

Inc.

116,000

2.517%, 

(LIBOR

3M

+

2.125%),

2/12/2047

b,g

92,800

HCP,

Inc.

132,000

4.250%, 

11/15/2023

144,635

Hospitality

Properties

Trust

150,000

4.250%, 

2/15/2021

147,375

HSBC

Holdings

plc

234,000

6.875%, 

6/1/2021

b,j

238,557

225,000

3.803%, 

3/11/2025

b

243,676

204,000

6.375%, 

3/30/2025

b,j

204,637

148,000

2.633%, 

11/7/2025

b

154,841

136,000

6.500%, 

3/23/2028

b,j

137,360

Huntington

Bancshares,

Inc.

200,000

3.150%, 

3/14/2021

202,942

Icahn

Enterprises,

LP

235,000

6.750%, 

2/1/2024

242,050

565,000

6.375%, 

12/15/2025

587,600

ILFC

E-Capital

Trust

II

207,000

3.270%, 

(H15T30Y

+

1.800%),

12/21/2065

b,g

109,710

ING

Groep

NV

225,000

4.100%, 

10/2/2023

247,952

International

Lease

Finance

Corporation

234,000

5.875%, 

8/15/2022

252,658

Iron

Mountain,

Inc.

425,000

4.875%, 

9/15/2027

g

441,469

J.P.

Morgan

Chase

&

Company

300,000

2.776%, 

4/25/2023

b

311,550

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Financials

(6.7%)

-

continued

$

305,000

3.375%, 

5/1/2023

$

326,760

380,000

5.150%, 

5/1/2023

b,j

380,608

231,000

1.494%, 

(LIBOR

3M

+

1.230%),

10/24/2023

b

234,555

156,000

6.750%, 

2/1/2024

b,j

172,899

208,000

1.514%, 

6/1/2024

b

212,888

576,000

5.000%, 

8/1/2024

b,j

579,600

259,000

3.875%, 

9/10/2024

289,465

560,000

4.023%, 

12/5/2024

b

619,489

444,000

4.600%, 

2/1/2025

b,j

429,614

145,000

2.083%, 

4/22/2026

b

152,031

KeyBank

NA

335,000

1.250%, 

3/10/2023

341,683

Liberty

Mutual

Group,

Inc.

54,000

5.000%, 

6/1/2021

g

55,957

Lincoln

National

Corporation

135,000

2.743%, 

(LIBOR

3M

+

2.358%),

5/17/2066

b

94,500

Lloyds

Banking

Group

plc

247,000

3.000%, 

1/11/2022

255,647

183,000

2.858%, 

3/17/2023

b

189,103

225,000

3.900%, 

3/12/2024

248,791

152,000

7.500%, 

6/27/2024

b,j

160,360

270,000

6.657%, 

5/21/2037

b,g,j

307,800

MetLife,

Inc.

300,000

5.875%, 

3/15/2028

b,j

328,500

MGM

Growth

Properties

Operating

Partnership,

LP

190,000

4.625%, 

6/15/2025

g

199,736

Mitsubishi

UFJ

Financial

Group,

Inc.

117,000

2.998%, 

2/22/2022

121,483

187,000

2.623%, 

7/18/2022

194,249

250,000

3.455%, 

3/2/2023

267,491

124,000

3.407%, 

3/7/2024

134,906

162,000

1.412%, 

7/17/2025

165,723

Mizuho

Financial

Group,

Inc.

187,000

2.721%, 

7/16/2023

b

194,154

200,000

2.226%, 

5/25/2026

b

207,772

Morgan

Stanley

232,000

5.500%, 

7/28/2021

243,551

116,000

2.750%, 

5/19/2022

120,687

150,000

4.875%, 

11/1/2022

163,520

250,000

3.125%, 

1/23/2023

265,800

247,000

4.100%, 

5/22/2023

268,517

124,000

2.720%, 

7/22/2025

b

132,563

294,000

2.188%, 

4/28/2026

b

309,745

MPT

Operating

Partnership,

LP

370,000

5.250%, 

8/1/2026

388,500

380,000

4.625%, 

8/1/2029

401,493

National

Australia

Bank,

Ltd.

199,000

1.875%, 

12/13/2022

205,731

National

Bank

of

Canada

199,000

2.100%, 

2/1/2023

206,493

National

Securities

Clearing

Corporation

139,000

1.200%, 

4/23/2023

g

141,782

Nippon

Life

Insurance

Company

222,000

3.400%, 

1/23/2050

b,g

236,430

Nomura

Holdings,

Inc.

159,000

2.648%, 

1/16/2025

167,061

Nordea

Bank

Abp

200,000

6.625%, 

3/26/2026

b,g,j

216,750

Outfront

Media

Cap,

LLC

700,000

4.625%, 

3/15/2030

g

654,500

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

252

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Financials

(6.7%)

-

continued

Park

Aerospace

Holdings,

Ltd.

$

62,000

4.500%, 

3/15/2023

g

$

58,568

PayPal

Holdings,

Inc.

135,000

1.650%, 

6/1/2025

140,717

PNC

Financial

Services

Group,

Inc.

126,000

3.500%, 

1/23/2024

138,305

Provident

Financing

Trust

I

78,000

7.405%, 

3/15/2038

87,847

Prudential

Financial,

Inc.

440,000

5.625%, 

6/15/2043

b

476,489

435,000

5.200%, 

3/15/2044

b

459,524

Quicken

Loans,

Inc.

470,000

5.750%, 

5/1/2025

g

484,539

Regions

Financial

Corporation

126,000

3.800%, 

8/14/2023

137,517

156,000

5.750%, 

6/15/2025

b,j

166,140

Reinsurance

Group

of

America,

Inc.

175,000

4.700%, 

9/15/2023

193,247

Royal

Bank

of

Canada

145,000

1.600%, 

4/17/2023

149,539

124,000

2.250%, 

11/1/2024

132,215

Royal

Bank

of

Scotland

Group

plc

360,000

8.625%, 

8/15/2021

b,j

376,124

126,000

6.125%, 

12/15/2022

138,041

126,000

6.100%, 

6/10/2023

139,399

230,000

4.269%, 

3/22/2025

b

253,245

99,000

3.754%, 

11/1/2029

b

103,667

Santander

Holdings

USA,

Inc.

137,000

3.450%, 

6/2/2025

146,588

Santander

UK

Group

Holdings

plc

253,000

2.875%, 

8/5/2021

258,976

Santander

UK

plc

199,000

2.100%, 

1/13/2023

206,225

Service

Properties

Trust

230,000

4.500%, 

6/15/2023

218,500

150,000

4.750%, 

10/1/2026

132,000

Simon

Property

Group,

LP

225,000

2.500%, 

7/15/2021

228,194

127,000

2.000%, 

9/13/2024

131,147

Societe

Generale

SA

148,000

2.625%, 

10/16/2024

g

154,052

156,000

8.000%, 

9/29/2025

b,g,j

175,110

Springleaf

Finance

Corporation

80,000

6.875%, 

3/15/2025

89,400

380,000

7.125%, 

3/15/2026

445,485

250,000

6.625%, 

1/15/2028

286,489

Standard

Chartered

plc

187,000

2.744%, 

9/10/2022

b,g

189,242

State

Street

Corporation

141,000

2.825%, 

3/30/2023

b,g

146,349

125,000

2.354%, 

11/1/2025

b

134,036

Sumitomo

Mitsui

Financial

Group,

Inc.

116,000

2.784%, 

7/12/2022

120,945

496,000

2.778%, 

10/18/2022

520,659

148,000

2.448%, 

9/27/2024

156,549

Synchrony

Financial

127,000

2.850%, 

7/25/2022

129,888

141,000

4.250%, 

8/15/2024

149,759

Synovus

Bank

250,000

2.289%, 

2/10/2023

b

254,492

Toronto-Dominion

Bank

124,000

3.250%, 

3/11/2024

135,912

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Financials

(6.7%)

-

continued

Truist

Bank

$

203,000

1.500%, 

3/10/2025

$

210,487

Truist

Financial

Corporation

351,000

4.950%, 

9/1/2025

b,j

374,693

UBS

Group

AG

162,000

1.364%, 

1/30/2027

b,g

163,458

USB

Realty

Corporation

276,000

1.422%, 

(LIBOR

3M

+

1.147%),

1/15/2022

b,g,j

220,110

Ventas

Realty,

LP

126,000

3.100%, 

1/15/2023

130,161

126,000

3.750%, 

5/1/2024

132,889

VEREIT

Operating

Partnership,

LP

134,000

4.625%, 

11/1/2025

147,214

VICI

Properties,

LP

/

VICI

Note

Company,

Inc.

140,000

4.250%, 

12/1/2026

g

144,200

90,000

3.750%, 

2/15/2027

g

90,675

140,000

4.625%, 

12/1/2029

g

147,350

90,000

4.125%, 

8/15/2030

g

91,080

Wachovia

Capital

Trust

II

100,000

0.775%, 

(LIBOR

3M

+

0.500%),

1/15/2027

b

89,500

Wells

Fargo

&

Company

120,000

2.100%, 

7/26/2021

122,042

122,000

2.625%, 

7/22/2022

126,918

252,000

4.125%, 

8/15/2023

275,407

200,000

1.491%, 

(LIBOR

3M

+

1.230%),

10/31/2023

b

202,172

121,000

3.750%, 

1/24/2024

132,638

250,000

1.654%, 

6/2/2024

b

254,836

245,000

2.406%, 

10/30/2025

b

257,675

224,000

2.188%, 

4/30/2026

b

233,799

Westpac

Banking

Corporation

133,000

2.000%, 

1/13/2023

137,996

133,000

2.894%, 

2/4/2030

b

137,413

Total

51,594,219

Foreign

Government

(<0.1%)

Sinopec

Group

Overseas

Development

2018,

Ltd.

163,000

2.150%, 

5/13/2025

g

169,564

Total

169,564

Mortgage-Backed

Securities

(15.4%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

7,057,855

3.000%, 

3/25/2050

7,473,857

3,645,025

3.000%, 

4/1/2050

3,859,870

2,774,665

3.500%, 

7/1/2047

2,935,449

Federal

National

Mortgage

Association

1,419,502

4.500%, 

5/1/2048

1,527,171

2,587,340

3.500%, 

10/1/2048

2,732,191

1,790,483

3.500%, 

6/1/2049

1,893,185

2,956,977

3.500%, 

8/1/2049

3,129,766

Federal

National

Mortgage

Association

Conventional

15-Yr.

Pass

Through

7,550,000

2.000%, 

8/1/2035

e

7,853,180

15,700,000

2.500%, 

8/1/2035

e

16,477,641

9,774,000

2.000%, 

9/1/2035

e

10,152,743

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

253

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Mortgage-Backed

Securities

(15.4%)

-

continued

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

$

25,131,000

2.500%, 

8/1/2050

e

$

26,400,312

14,150,000

2.000%, 

9/1/2050

e

14,632,543

13,277,000

3.000%, 

9/1/2043

e

14,015,047

4,458,272

4.000%, 

7/1/2048

4,732,888

Total

117,815,843

Technology

(1.3%)

Apple,

Inc.

441,000

3.450%, 

5/6/2024

489,066

135,000

1.125%, 

5/11/2025

138,707

Baidu,

Inc.

168,000

3.075%, 

4/7/2025

179,365

Broadcom

Corporation

513,000

2.650%, 

1/15/2023

534,397

199,000

3.125%, 

1/15/2025

213,888

Broadcom,

Inc.

71,000

2.250%, 

11/15/2023

g

73,906

CDW,

LLC

340,000

4.250%, 

4/1/2028

363,664

CommScope

Technologies

Finance,

LLC

820,000

6.000%, 

6/15/2025

g

837,794

Dell

International,

LLC/

EMC

Corporation

186,000

4.000%, 

7/15/2024

g

201,650

71,000

5.850%, 

7/15/2025

g

82,730

Diamond

1

Finance

Corporation

358,000

5.450%, 

6/15/2023

g

394,484

Diamond

Sports

Group,

LLC

210,000

5.375%, 

8/15/2026

g

161,715

430,000

6.625%, 

8/15/2027

g

235,425

Fiserv,

Inc.

237,000

2.750%, 

7/1/2024

255,811

Gartner,

Inc.

200,000

4.500%, 

7/1/2028

g

210,000

Global

Payments,

Inc.

64,000

2.650%, 

2/15/2025

68,539

Harland

Clarke

Holdings

Corporation

360,000

8.375%, 

8/15/2022

g

294,300

Hewlett

Packard

Enterprise

Company

127,000

2.250%, 

4/1/2023

131,358

109,000

4.450%, 

10/2/2023

119,630

Intuit,

Inc.

135,000

0.950%, 

7/15/2025

136,664

Iron

Mountain,

Inc.

360,000

5.000%, 

7/15/2028

g

372,600

Marvell

Technology

Group,

Ltd.

126,000

4.200%, 

6/22/2023

136,353

Micron

Technology,

Inc.

212,000

2.497%, 

4/24/2023

221,312

NCR

Corporation

710,000

6.125%, 

9/1/2029

g

777,769

NXP

BV/NXP

Funding,

LLC

189,000

4.875%, 

3/1/2024

g

212,600

NXP

Funding,

LLC

70,000

2.700%, 

5/1/2025

g

75,011

Open

Text

Corporation

510,000

4.125%, 

2/15/2030

g

535,500

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Technology

(1.3%)

-

continued

Oracle

Corporation

$

170,000

2.500%, 

5/15/2022

$

175,869

212,000

2.500%, 

4/1/2025

229,200

Panasonic

Corporation

187,000

2.536%, 

7/19/2022

g

192,938

Plantronics,

Inc.

460,000

5.500%, 

5/31/2023

g

434,792

PTC,

Inc.

140,000

3.625%, 

2/15/2025

g

145,148

120,000

4.000%, 

2/15/2028

g

126,042

Seagate

HDD

Cayman

136,000

4.250%, 

3/1/2022

141,328

136,000

4.750%, 

1/1/2025

147,723

SS&C

Technologies,

Inc.

540,000

5.500%, 

9/30/2027

g

580,500

Tencent

Holdings,

Ltd.

162,000

1.810%, 

1/26/2026

g

165,319

Texas

Instruments,

Inc.

210,000

1.375%, 

3/12/2025

218,401

Total

System

Services,

Inc.

135,000

3.750%, 

6/1/2023

145,404

Total

10,156,902

Transportation

(0.5%)

AerCap

Holdings

NV

213,000

5.875%, 

10/10/2079

b

163,331

Air

Canada

Pass

Through

Trust

43,068

3.875%, 

3/15/2023

g

36,636

Air

Lease

Corporation

133,000

2.300%, 

2/1/2025

127,538

135,000

3.375%, 

7/1/2025

137,287

CSX

Corporation

126,000

3.700%, 

11/1/2023

138,833

Delta

Air

Lines,

Inc.

124,000

2.900%, 

10/28/2024

107,587

400,000

7.000%, 

5/1/2025

g

427,500

J.B.

Hunt

Transport

Services,

Inc.

160,000

3.300%, 

8/15/2022

167,536

Mileage

Plus

Holdings,

LLC

300,000

6.500%, 

6/20/2027

g

310,500

NCL

Corporation,

Ltd.

230,000

3.625%, 

12/15/2024

g

152,007

Penske

Truck

Leasing

Company,

LP

124,000

3.375%, 

2/1/2022

g

127,971

Ryder

System,

Inc.

236,000

3.500%, 

6/1/2021

241,768

Southwest

Airlines

Company

68,000

4.750%, 

5/4/2023

71,359

215,000

5.250%, 

5/4/2025

230,262

Union

Pacific

Corporation

189,000

3.750%, 

7/15/2025

215,413

United

Airlines

Pass

Through

Trust

160,000

3.700%, 

12/1/2022

149,283

XPO

Logistics,

Inc.

230,000

6.125%, 

9/1/2023

g

234,529

375,000

6.750%, 

8/15/2024

g

403,298

Total

3,442,638

U.S.

Government

&

Agencies

(0.1%)

U.S.

Treasury

Notes

280,000

1.500%, 

8/15/2020

280,128

340,000

1.375%, 

9/30/2020

340,681

Total

620,809

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

254

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Utilities

(1.1%)

Alabama

Power

Company

$

117,000

2.450%, 

3/30/2022

$

120,763

Ameren

Corporation

125,000

2.500%, 

9/15/2024

133,833

Berkshire

Hathaway

Energy

Company

135,000

4.050%, 

4/15/2025

g

154,947

Calpine

Corporation

410,000

4.500%, 

2/15/2028

g

423,325

CenterPoint

Energy,

Inc.

120,000

2.500%, 

9/1/2022

124,516

127,000

2.500%, 

9/1/2024

135,539

Dominion

Energy,

Inc.

126,000

2.715%, 

8/15/2021

128,661

126,000

3.071%, 

8/15/2024

136,859

205,000

4.650%, 

12/15/2024

b,j

208,772

DTE

Energy

Company

179,000

3.300%, 

6/15/2022

186,602

187,000

2.529%, 

10/1/2024

199,281

Duke

Energy

Corporation

250,000

2.400%, 

8/15/2022

259,595

207,000

4.875%, 

9/16/2024

b,j

213,727

Edison

International

137,000

4.950%, 

4/15/2025

152,365

Evergy

,

Inc.

127,000

2.450%, 

9/15/2024

135,756

Eversource

Energy

127,000

2.500%, 

3/15/2021

128,412

Exelon

Generation

Company,

LLC

135,000

3.250%, 

6/1/2025

149,017

FirstEnergy

Corporation

184,000

2.850%, 

7/15/2022

188,670

135,000

2.050%, 

3/1/2025

136,884

Florida

Power

&

Light

Company

140,000

2.850%, 

4/1/2025

153,892

Georgia

Power

Company

133,000

2.100%, 

7/30/2023

138,702

127,000

2.200%, 

9/15/2024

134,468

NextEra

Energy

Operating

Partners,

LP

710,000

3.875%, 

10/15/2026

g

741,950

NiSource,

Inc.

177,000

3.650%, 

6/15/2023

191,175

310,000

5.650%, 

6/15/2023

b,j

302,250

PG&E

Corporation

190,000

5.000%, 

7/1/2028

195,500

150,000

5.250%, 

7/1/2030

156,000

PPL

Capital

Funding,

Inc.

252,000

3.950%, 

3/15/2024

274,480

PSEG

Power,

LLC

143,000

3.000%, 

6/15/2021

145,951

Public

Service

Enterprise

Group,

Inc.

126,000

2.875%, 

6/15/2024

136,960

Sempra

Energy

246,000

3.550%, 

6/15/2024

269,499

156,000

4.875%, 

10/15/2025

b,j

161,507

Southern

Company

116,000

2.350%, 

7/1/2021

117,852

Suburban

Propane

Partners,

LP

350,000

5.875%, 

3/1/2027

356,125

Talen

Energy

Supply,

LLC

360,000

7.625%, 

6/1/2028

g

376,200

TerraForm

Power

Operating,

LLC

325,000

5.000%, 

1/31/2028

g

358,313

Principal

Amount

Long-Term

Fixed

Income

(53.1%)

Value

Utilities

(1.1%)

-

continued

TransCanada

Trust

$

547,000

5.875%, 

8/15/2076

b

$

588,630

Vistra

Operations

Company,

LLC

580,000

5.000%, 

7/31/2027

g

619,150

Total

8,736,128

Total

Long-Term

Fixed

Income

(cost

$403,144,122)

407,076,831

Shares

Registered

Investment

Companies

(

19.8%

)

Value

Unaffiliated  (4.5%)

15,194

Aberdeen

Asia-Pacific

Income

Fund,

Inc.

62,143

8,100

AllianceBernstein

Global

High

Income

Fund,

Inc.

86,184

34,500

AllianzGI

NFJ

Dividend

Interest

&

Premium

Strategy

Fund

414,690

3,683

BlackRock

Core

Bond

Trust

59,407

5,655

BlackRock

Corporate

High

Yield

Fund,

Inc.

59,830

4,089

BlackRock

Credit

Allocation

Income

Trust

57,900

8,900

BlackRock

Enhanced

Global

Dividend

Trust

86,864

9,800

BlackRock

Multi-Sector

Income

Trust

148,666

49,024

BlackRock

Resources

&

Commodities

Strategy

Trust

311,302

6,800

Brookfield

Real

Assets

Income

Fund,

Inc.

115,804

5,626

Cohen

&

Steers

Quality

Income

Realty

Fund,

Inc.

62,167

5,016

Eaton

Vance

Limited

Duration

Income

Fund

58,236

7,892

Eaton

Vance

Tax-Managed

Global

Diversified

Equity

Income

Fund

59,269

6,381

Invesco

Dynamic

Credit

Opportunities

Fund

57,046

759,305

Invesco

Senior

Loan

ETF

16,431,360

5,700

Invesco

Variable

Rate

Preferred

ETF

139,992

69,200

iShares

S&P

U.S.

Preferred

Stock

Index

Fund

2,503,656

14,775

Liberty

All-Star

Equity

Fund

87,173

13,575

Nuveen

Credit

Strategies

Income

Fund

79,821

4,417

PGIM

Global

High

Yield

Fund,

Inc.

58,216

4,432

PGIM

High

Yield

Bond

Fund,

Inc.

60,718

3,094

Pimco

Dynamic

Credit

And

Mortgage

Income

Fund

59,993

4,759

Royce

Value

Trust,

Inc.

62,391

37,598

SPDR

Bloomberg

Barclays

High

Yield

Bond

ETF

3,989,148

73,573

Templeton

Global

Income

Fund

403,180

2,308

Tri-Continental

Corporation

59,846

105,670

Vanguard

Short-Term

Corporate

Bond

ETF

8,781,177

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

255

Shares

Registered

Investment

Companies

(19.8%)

Value

Unaffiliated  (4.5%)-

continued

49,367

Western

Asset

High

Income

Opportunity

Fund,

Inc.

$

240,911

Total

34,597,090

Affiliated  (15.3%)

11,744,878

Thrivent

Core

Emerging

Markets

Debt

Fund

117,566,231

Total

117,566,231

Total

Registered

Investment

Companies

(cost

$148,278,036)

152,163,321

Shares

Preferred

Stock

(

0.9%

)

Value

Communications

Services

(0.1%)

15,450

AT&T,

Inc.,

4.750%

j

387,486

4,450

AT&T,

Inc.,

5.000%

j

117,080

Total

504,566

Consumer

Staples

(<0.1%)

17,520

CHS,

Inc.,

7.100%

b,j

441,504

Total

441,504

Energy

(0.1%)

58,690

Crestwood

Equity

Partners,

LP,

9.250%

j

374,442

2,800

Energy

Transfer

Operating,

LP,

7.600%

b,j

53,256

5,255

Nustar

Logistics,

LP,

7.009%

b

105,836

Total

533,534

Financials

(0.7%)

4,025

Aegon

Funding

Corporation

II,

5.100%

100,907

7,320

Agribank

FCB,

6.875%

b,j

768,600

8,200

Allstate

Corporation,

5.100%

j

221,236

7,500

Bank

of

America

Corporation,

5.000%

j

200,925

3,625

Bank

of

America

Corporation,

5.375%

j

98,781

8,275

Capital

One

Financial

Corporation,

5.000%

j

206,709

5,700

Cobank

ACB,

6.250%

b,j

584,250

8,875

Equitable

Holdings,

Inc.,

5.250%

j

218,236

265

First

Horizon

Bank,

3.750%

b,g,j

177,550

14,700

GMAC

Capital

Trust

I,

6.177%

b

353,829

6,500

Hartford

Financial

Services

Group,

Inc.,

7.875%

b

185,835

5,500

J.P.

Morgan

Chase

&

Company,

4.750%

j

149,105

6,025

J.P.

Morgan

Chase

&

Company,

5.750%

j

167,977

14,975

MetLife,

Inc.,

5.625%

j

418,701

13,100

Morgan

Stanley,

7.125%

b,j

376,625

1,400

Synovus

Financial

Corporation,

5.875%

b,j

34,076

9,150

Truist

Financial

Corporation,

4.750%

j,o

230,580

709

Wells

Fargo

&

Company,

Convertible,

7.500%

j

958,214

Total

5,452,136

Real

Estate

(<0.1%)

2,450

Public

Storage,

4.625%

j,o

64,116

625

Public

Storage,

4.700%

j

16,644

Shares

Preferred

Stock

(0.9%)

Value

Real

Estate

(<0.1%)

-

continued

950

Public

Storage,

4.875%

j

$

25,897

Total

106,657

Total

Preferred

Stock

(cost

$7,097,018)

7,038,397

Shares

Common

Stock

(

0.2%

)

Value

Financials

(0.1%)

7,200

FS

KKR

Capital

Corporation

114,480

7,900

FS

KKR

Capital

Corporation

II

o

112,575

9,600

Golub

Capital

BDC,

Inc.

113,568

6,700

Sixth

Street

Specialty

Lending,

Inc.

114,168

Total

454,791

Industrials

(0.1%)

173,878

McDermott

International,

Ltd.

o

617,267

Total

617,267

Materials

(<0.1%)

19,316

Verso

Corporation

235,848

Total

235,848

Total

Common

Stock

(cost

$1,211,420)

1,307,906

Shares

Collateral

Held

for

Securities

Loaned

(

0.2%

)

Value

1,172,425

Thrivent

Cash

Management

Trust

1,172,425

Total

Collateral

Held

for

Securities

Loaned

(cost

$1,172,425)

1,172,425

Shares

or

Principal

Amount

Short-Term

Investments

(

12.4%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

200,000

0.120%,

8/25/2020

p,q

199,992

400,000

0.090%,

9/15/2020

p,q

399,957

Thrivent

Core

Short-Term

Reserve

Fund

9,389,121

0.500%

93,985,101

U.S.

Treasury

Bills

600,000

0.133%,

9/17/2020

p

599,933

Total

Short-Term

Investments

(cost

$95,090,563)

95,184,983

Total

Investments

(cost

$859,487,052)

111.8%

$857,585,106

Other

Assets

and

Liabilities,

Net

(11.8%)

(90,405,094)

Total

Net

Assets

100.0%

$767,180,012

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

July

31,

2020.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

256

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed

delivery

basis.

f

In

bankruptcy.  Interest

is

being

accrued

per

the

bankruptcy

agreement

terms.  

g

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

July

31,

2020,

the

value

of

these

investments

was

$142,436,569

or

18.6%

of

total

net

assets.

h

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

July

31,

2020.

i

All

or

a

portion

of

the

security

is

on

loan.

j

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

k

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

l

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

m

Defaulted

security.  Interest

is

not

being

accrued.

n

In

bankruptcy.  Interest

is

not

being

accrued.

o

Non-income

producing

security.

p

The

interest

rate

shown

reflects

the

yield,

coupon

rate

or

the

discount

rate

at

the

date

of

purchase.

q

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Opportunity

Income

Plus

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

1,139,694

Total

lending

$1,139,694

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$1,172,425

Net

amounts

due

to

counterparty

$32,731

Definitions:

ACES

-

Alternative

Credit

Enhancement

Securities

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

12

MTA

-

12

Month

Treasury

Average

H15T30Y

-

U.

S.

Treasury

Yield

Curve

Rate

Treasury

Note

Constant

Maturity

30

Year

LIBOR

1W

-

ICE

Libor

USD

Rate

1

Week

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

2M

-

ICE

Libor

USD

Rate

2

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

257

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Opportunity

Income

Plus

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

10,940,047

–

9,916,911

1,023,136

Capital

Goods

22,566,941

–

21,487,184

1,079,757

Communications

Services

49,864,437

–

49,283,925

580,512

Consumer

Cyclical

25,841,523

–

25,267,892

573,631

Consumer

Non-Cyclical

30,423,019

–

30,423,019

–

Energy

9,717,209

–

9,717,209

–

Financials

15,993,507

–

15,993,507

–

Technology

18,265,291

–

18,265,291

–

Transportation

5,008,297

–

5,008,297

–

Utilities

5,020,972

–

5,020,972

–

Long-Term

Fixed

Income

Asset-Backed

Securities

33,485,837

–

33,485,837

–

Basic

Materials

7,408,304

–

7,408,304

–

Capital

Goods

12,399,944

–

12,399,944

–

Collateralized

Mortgage

Obligations

70,964,052

–

70,964,052

–

Commercial

Mortgage-Backed

Securities

2,380,078

–

2,380,078

–

Communications

Services

22,992,788

–

22,992,788

–

Consumer

Cyclical

19,746,985

–

19,746,985

–

Consumer

Non-Cyclical

25,638,567

–

25,638,567

–

Energy

19,524,173

–

19,524,173

–

Financials

51,594,219

–

51,594,219

–

Foreign

Government

169,564

–

169,564

–

Mortgage-Backed

Securities

117,815,843

–

117,815,843

–

Technology

10,156,902

–

10,156,902

–

Transportation

3,442,638

–

3,442,638

–

U.S.

Government

&

Agencies

620,809

–

620,809

–

Utilities

8,736,128

–

8,736,128

–

Registered

Investment

Companies

Unaffiliated

34,597,090

34,597,090

–

–

Preferred

Stock

Communications

Services

504,566

504,566

–

–

Consumer

Staples

441,504

441,504

–

–

Energy

533,534

533,534

–

–

Financials

5,452,136

3,921,736

1,530,400

–

Real

Estate

106,657

106,657

–

–

Common

Stock

Financials

454,791

454,791

–

–

Industrials

617,267

617,267

–

–

Materials

235,848

235,848

–

–

Short-Term

Investments

1,199,882

–

1,199,882

–

Subtotal

Investments

in

Securities

$644,861,349

$41,412,993

$600,191,320

$3,257,036

Other

Investments  *

Total

Affiliated

Registered

Investment

Companies

117,566,231

Affiliated

Short-Term

Investments

93,985,101

Collateral

Held

for

Securities

Loaned

1,172,425

Subtotal

Other

Investments

$212,723,757

Total

Investments

at

Value

$857,585,106

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

401,970

401,970

–

–

Total

Asset

Derivatives

$401,970

$401,970

$–

$–

Liability

Derivatives

Futures

Contracts

633,421

633,421

–

–

Total

Liability

Derivatives

$633,421

$633,421

$–

$–

Opportunity

Income

Plus

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

258

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

S&P

-

Standard

&

Poor's

The

following

table

presents

Opportunity

Income

Plus

Fund's

futures

contracts

held

as

of

July

31,

2020.

Investments

and/or

cash

totaling

$599,948

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

2-Yr.

U.S.

Treasury

Note

100

September

2020

$

22,080,776

$

17,662

CBOT

5-Yr.

U.S.

Treasury

Note

104

September

2020

13,022,262

94,738

CME

Ultra

Long

Term

U.S.

Treasury

Bond

26

September

2020

5,630,305

289,570

Total

Futures

Long

Contracts

$

40,733,343

$

401,970

CBOT

10-Yr.

U.S.

Treasury

Note

(74)

September

2020

(

$

10,251,074)

(

$

114,707)

CBOT

U.S.

Long

Bond

(82)

September

2020

(

14,624,404)

(

322,659)

CME

E-mini

S&P

500

Index

(24)

September

2020

(

3,833,399)

(

82,801)

Ultra

10-Yr.

U.S.

Treasury

Note

(40)

September

2020

(

6,256,746)

(

113,254)

Total

Futures

Short

Contracts

(

$

34,965,623)

($633,421)

Total

Futures

Contracts

$

5,767,720

($231,451)

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Opportunity

Income

Plus

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$96,309

$19,007

$–

$117,566

11,745

15.3%

Total

Affiliated

Registered

Investment

Companies

96,309

117,566

15.3

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

115,236

334,184

355,489

93,985

9,389

12.3

Total

Affiliated

Short-Term

Investments

115,236

93,985

12.3

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

2,846

75,621

77,295

1,172

1,172

0.2

Total

Collateral

Held

for

Securities

Loaned

2,846

1,172

0.2

Total

Value

$214,391

$212,723

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$–

$2,250

$–

$3,699

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

(40)

94

1

1,162

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$4,861

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

17

Total

Affiliated

Income

from

Securities

Loaned,

Net

$17

Total

$(40)

$2,344

$1

Small

Cap

Growth

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

259

Shares

Common

Stock

(

97.6%

)

Value

Communications

Services

(0.2%)

5,238

ORBCOMM,

Inc.

a

$

22,052

Total

22,052

Consumer

Discretionary

(11.5%)

910

Bright

Horizons

Family

Solutions,

Inc.

a

97,588

407

Burlington

Stores,

Inc.

a

76,516

5,808

Cooper-Standard

Holdings,

Inc.

a

62,204

9,613

Duluth

Holdings,

Inc.

a

71,040

1,818

Etsy,

Inc.

a

215,215

1,992

Five

Below,

Inc.

a

216,949

152

Lithia

Motors,

Inc.

34,831

1,687

Ollie's

Bargain

Outlet

Holdings,

Inc.

a

177,304

3,780

Planet

Fitness,

Inc.

a

197,316

6,762

Playa

Hotels

and

Resorts

NV

a

24,546

6,212

Red

Rock

Resorts,

Inc.

68,083

2,986

Skyline

Corporation

a

84,295

4,795

Texas

Roadhouse,

Inc.

269,431

1,394

Wingstop

,

Inc.

217,812

Total

1,813,130

Consumer

Staples

(3.8%)

869

Casey's

General

Stores,

Inc.

138,336

6,705

e.l.f

.

Beauty,

Inc.

a

119,751

4,109

Simply

Good

Foods

Company

a

98,781

7,073

Turning

Point

Brands,

Inc.

232,560

Total

589,428

Energy

(0.2%)

6,163

Nine

Energy

Service,

Inc.

a

11,463

3,447

Talos

Energy,

Inc.

a

23,474

Total

34,937

Financials

(5.3%)

3,003

Ameris

Bancorp

69,294

2,424

Assured

Guaranty,

Ltd.

52,916

2,445

Essent

Group,

Ltd.

87,604

15,072

Everi

Holdings,

Inc.

a

85,609

2,027

Hamilton

Lane,

Inc.

146,430

1,094

Kemper

Corporation

85,901

2,553

Prosight

Global,

Inc.

a

20,067

3,262

Seacoast

Banking

Corporation

of

Florida

a

61,587

1,050

TMX

Group,

Ltd.

107,332

3,062

Western

Alliance

Bancorp

110,079

Total

826,819

Health

Care

(22.9%)

3,302

ACADIA

Pharmaceuticals,

Inc.

a

137,264

1,548

Agios

Pharmaceuticals,

Inc.

a

70,155

825

Arena

Pharmaceuticals,

Inc.

a

50,647

377

Argenx

SE

ADR

a

86,759

4,536

Axonics

Modulation

Technologies,

Inc.

a

192,145

1,094

Biohaven

Pharmaceutical

Holding

Company,

Ltd.

a

70,060

554

Bio-

Techne

Corporation

152,439

3,289

Catalent

,

Inc.

a

287,261

549

Global

Blood

Therapeutics,

Inc.

a

37,046

2,446

Guardant

Health,

Inc.

a

208,350

3,751

Halozyme

Therapeutics,

Inc.

a

101,990

2,256

Inspire

Medical

Systems,

Inc.

a

224,156

2,305

LHC

Group,

Inc.

a

449,729

689

Ligand

Pharmaceuticals,

Inc.

a,b

80,737

347

Mesa

Laboratories,

Inc.

82,218

Shares

Common

Stock

(97.6%)

Value

Health

Care

(22.9%)

-

continued

698

MyoKardia

,

Inc.

a

$

62,911

3,755

Natera

,

Inc.

a

180,315

456

Neurocrine

Biosciences,

Inc.

a

54,884

1,540

Nevro

Corporation

a

204,758

5,429

Optinose

,

Inc.

a

27,661

1,304

Repligen

Corporation

a

196,787

338

Sage

Therapeutics,

Inc.

a

15,403

4,557

Silk

Road

Medical,

Inc.

a

211,718

3,632

Tactile

Systems

Technology,

Inc.

a

148,839

319

Teleflex,

Inc.

119,019

601

Veeva

Systems,

Inc.

a

159,007

Total

3,612,258

Industrials

(17.4%)

3,931

Aerojet

Rocketdyne

Holdings,

Inc.

a

162,154

5,136

Altra

Industrial

Motion

Corporation

175,805

2,944

ASGN,

Inc.

a

201,546

2,238

Casella

Waste

Systems,

Inc.

a

124,008

2,836

Chart

Industries,

Inc.

a

194,351

1,213

John

Bean

Technologies

Corporation

113,731

1,582

Lincoln

Electric

Holdings,

Inc.

142,997

1,014

Mercury

Systems,

Inc.

a

78,514

10,417

Meritor,

Inc.

a

236,987

1,986

Middleby

Corporation

a,b

164,957

5,225

Ritchie

Brothers

Auctioneers,

Inc.

241,813

1,555

Saia,

Inc.

a

185,745

1,235

Simpson

Manufacturing

Company,

Inc.

119,252

985

SiteOne

Landscape

Supply,

Inc.

a

126,109

6,864

Summit

Materials,

Inc.

a

101,038

1,134

Trex

Company,

Inc.

a

158,000

285

Watsco

,

Inc.

67,280

6,148

Willdan

Group,

Inc.

a

151,610

Total

2,745,897

Information

Technology

(31.2%)

1,161

Alteryx

,

Inc.

a

203,744

2,338

Anaplan,

Inc.

a

106,169

2,035

Avalara,

Inc.

a

273,606

2,191

Bandwidth,

Inc.

a,b

317,213

2,136

Blackline,

Inc.

a

189,912

1,805

Cognex

Corporation

120,700

851

Coupa

Software,

Inc.

a

260,789

2,805

Descartes

Systems

Group,

Inc.

a

158,006

2,780

Dolby

Laboratories,

Inc.

193,488

1,901

Endava

plc

ADR

a

98,187

1,651

Euronet

Worldwide,

Inc.

a

158,727

6,459

Eventbrite,

Inc.

a

55,031

2,488

Five9,

Inc.

a

300,600

1,174

Guidewire

Software,

Inc.

a

138,133

3,043

Health

Catalyst,

Inc.

a

106,201

1,165

Inphi

Corporation

a

152,219

5,060

Lattice

Semiconductor

Corporation

a

157,315

1,894

Lumentum

Holdings,

Inc.

a

175,820

5,848

Medallia

,

Inc.

a

179,709

1,748

MKS

Instruments,

Inc.

222,765

1,744

Monolithic

Power

Systems,

Inc.

462,177

1,888

Nova

Measuring

Instruments,

Ltd.

a

97,043

997

Novanta

,

Inc.

a

103,369

1,202

Proofpoint

,

Inc.

a

139,035

1,901

Q2

Holdings,

Inc.

a

178,789

1,245

Rogers

Corporation

a

148,392

Small

Cap

Growth

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

260

Shares

Common

Stock

(97.6%)

Value

Information

Technology

(31.2%)

-

continued

6,941

SailPoint

Technologies

Holdings,

Inc.

a

$

218,641

Total

4,915,780

Materials

(2.2%)

8,032

Louisiana-Pacific

Corporation

254,373

491

Quaker

Chemical

Corporation

95,254

Total

349,627

Real

Estate

(2.9%)

613

CoreSite

Realty

Corporation

79,108

1,395

FirstService

Corporation

166,772

2,069

NexPoint

Residential

Trust,

Inc.

79,098

2,820

Rexford

Industrial

Realty,

Inc.

132,342

Total

457,320

Total

Common

Stock

(cost

$12,018,907)

15,367,248

Shares

Collateral

Held

for

Securities

Loaned

(

2.1%

)

Value

330,180

Thrivent

Cash

Management

Trust

330,180

Total

Collateral

Held

for

Securities

Loaned

(cost

$330,180)

330,180

Shares

Registered

Investment

Companies

(

0.5%

)

Value

Unaffiliated  (0.5%)

2,135

SPDR

S&P

Regional

Banking

ETF

80,233

Total

80,233

Total

Registered

Investment

Companies

(cost

$77,770)

80,233

Shares

Short-Term

Investments

(

4.0%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

62,648

0.500%

627,111

Total

Short-Term

Investments

(cost

$626,093)

627,111

Total

Investments

(cost

$13,052,950)

104.2%

$16,404,772

Other

Assets

and

Liabilities,

Net

(4.2%)

(655,880)

Total

Net

Assets

100.0%

$15,748,892

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

The

following

table

pre

sents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Small

Cap

Growth

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Common

Stock

$

312,204

Total

lending

$312,204

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$330,180

Net

amounts

due

to

counterparty

$17,976

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

ETF

-

Exchange

Traded

Fund

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Small

Cap

Growth

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

261

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Small

Cap

Growth

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

22,052

22,052

–

–

Consumer

Discretionary

1,813,130

1,813,130

–

–

Consumer

Staples

589,428

589,428

–

–

Energy

34,937

34,937

–

–

Financials

826,819

719,487

107,332

–

Health

Care

3,612,258

3,612,258

–

–

Industrials

2,745,897

2,745,897

–

–

Information

Technology

4,915,780

4,915,780

–

–

Materials

349,627

349,627

–

–

Real

Estate

457,320

457,320

–

–

Registered

Investment

Companies

Unaffiliated

80,233

80,233

–

–

Subtotal

Investments

in

Securities

$15,447,481

$15,340,149

$107,332

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

627,111

Collateral

Held

for

Securities

Loaned

330,180

Subtotal

Other

Investments

$957,291

Total

Investments

at

Value

$16,404,772

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Small

Cap

Growth

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$251

$4,443

$4,067

$627

63

4.0%

Total

Affiliated

Short-Term

Investments

251

627

4.0

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

297

5,267

5,234

330

330

2.1

Total

Collateral

Held

for

Securities

Loaned

297

330

2.1

Total

Value

$548

$957

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(1)

$1

$0

$5

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$5

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

2

Total

Affiliated

Income

from

Securities

Loaned,

Net

$2

Total

$(1)

$1

$0

Small

Cap

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

262

Shares

Common

Stock

(

97.3%

)

Value

Communications

Services

(1.3%)

683,743

QuinStreet

,

Inc.

a

$

7,982,700

Total

7,982,700

Consumer

Discretionary

(8.3%)

229,063

Cedar

Fair,

LP

5,460,862

343,767

Cooper-Standard

Holdings,

Inc.

a

3,681,745

194,745

Crocs,

Inc.

a

6,999,135

29,676

Five

Below,

Inc.

a

3,232,013

207,239

Leggett

&

Platt,

Inc.

8,308,211

213,770

Movado

Group,

Inc.

2,060,743

78,144

Sleep

Number

Corporation

a

3,633,696

201,597

Stoneridge,

Inc.

a

4,177,090

187,680

Texas

Roadhouse,

Inc.

10,545,739

212,649

Zumiez

,

Inc.

a

4,912,192

Total

53,011,426

Consumer

Staples

(4.7%)

18,738

Casey's

General

Stores,

Inc.

2,982,902

887,962

Cott

Corporation

b

12,617,940

59,483

John

B.

Sanfilippo

&

Son,

Inc.

5,244,616

279,805

Turning

Point

Brands,

Inc.

9,199,989

Total

30,045,447

Energy

(2.6%)

295,654

Helmerich

&

Payne,

Inc.

5,271,511

330,399

Nine

Energy

Service,

Inc.

a

614,542

252,374

SEACOR

Holdings,

Inc.

a

7,339,036

36,680

Talos

Energy,

Inc.

a

249,791

494,451

WPX

Energy,

Inc.

a

2,951,872

Total

16,426,752

Financials

(20.4%)

282,110

Air

Lease

Corporation

7,396,924

384,065

Assured

Guaranty,

Ltd.

8,384,139

207,513

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

5,401,563

526,083

Bridgewater

Bancshares,

Inc.

a

4,887,311

44,810

Cohen

&

Steers,

Inc.

2,696,666

185,942

Columbia

Banking

System,

Inc.

5,379,302

109,480

Evercore

,

Inc.

6,054,244

712,979

Everi

Holdings,

Inc.

a

4,049,721

296,855

First

Interstate

BancSystem

,

Inc.

8,641,449

96,842

Glacier

Bancorp,

Inc.

3,419,491

45,300

Hamilton

Lane,

Inc.

3,272,472

276,883

Heartland

Financial

USA,

Inc.

8,649,825

667,793

Heritage

Commerce

Corporation

4,527,637

45,429

Houlihan

Lokey

,

Inc.

2,489,509

64,753

Kemper

Corporation

5,084,406

89,845

Primerica,

Inc.

10,750,853

141,468

Prosight

Global,

Inc.

a

1,111,938

261,586

Santander

Consumer

USA

Holdings,

Inc.

b

4,802,719

321,897

Seacoast

Banking

Corporation

of

Florida

a

6,077,415

57,863

Selective

Insurance

Group,

Inc.

3,144,275

80,131

State

Auto

Financial

Corporation

1,242,832

413,784

Synovus

Financial

Corporation

8,337,748

306,604

Triumph

Bancorp,

Inc.

a

8,033,025

165,998

Western

Alliance

Bancorp

5,967,628

Total

129,803,092

Health

Care

(9.6%)

156,280

AMN

Healthcare

Services,

Inc.

a

8,586,023

41,726

Catalent

,

Inc.

a

3,644,349

260,232

Halozyme

Therapeutics,

Inc.

a

7,075,708

69,366

LHC

Group,

Inc.

a

13,534,000

41,933

Neurocrine

Biosciences,

Inc.

a

5,047,056

Shares

Common

Stock

(97.3%)

Value

Health

Care

(9.6%)

-

continued

323,758

Optinose

,

Inc.

a

$

1,649,547

26,556

PerkinElmer,

Inc.

3,157,774

197,563

Syneos

Health,

Inc.

a

12,325,956

147,037

Tactile

Systems

Technology,

Inc.

a,b

6,025,576

Total

61,045,989

Industrials

(17.6%)

169,470

AGCO

Corporation

11,122,316

192,407

Altra

Industrial

Motion

Corporation

6,586,092

58,825

Arcosa

,

Inc.

2,483,591

118,645

ASGN,

Inc.

a

8,122,437

112,239

Curtiss-Wright

Corporation

10,002,740

65,344

Encore

Wire

Corporation

3,279,615

170,990

Helios

Technologies,

Inc.

6,468,552

100,234

Lincoln

Electric

Holdings,

Inc.

9,060,151

84,045

Manpower,

Inc.

5,781,456

469,280

Meritor,

Inc.

a

10,676,120

79,967

Middleby

Corporation

a,b

6,642,059

49,638

NAPCO

Security

Technologies,

Inc.

a

1,309,450

294,707

Primoris

Services

Corporation

4,724,153

312,389

Raven

Industries,

Inc.

6,750,726

160,575

Ritchie

Brothers

Auctioneers,

Inc.

7,431,411

59,502

Saia,

Inc.

a

7,107,514

35,256

Valmont

Industries,

Inc.

4,273,027

Total

111,821,410

Information

Technology

(16.6%)

74,579

Advanced

Energy

Industries,

Inc.

a

5,486,777

224,667

Agilysys

,

Inc.

a

4,709,020

80,787

Blackline,

Inc.

a

7,182,772

552,585

Change

Healthcare,

Inc.

a

6,443,141

139,220

Ciena

Corporation

a

8,284,982

158,051

Computer

Services,

Inc.

9,048,420

93,754

Dolby

Laboratories,

Inc.

6,525,278

198,573

Lattice

Semiconductor

Corporation

a

6,173,635

35,774

Littelfuse

,

Inc.

6,355,251

14,732

Monolithic

Power

Systems,

Inc.

3,904,127

251,648

National

Instruments

Corporation

8,933,504

218,542

Nuance

Communications,

Inc.

a

5,977,124

90,806

Plexus

Corporation

a

6,745,978

342,075

SailPoint

Technologies

Holdings,

Inc.

a

10,775,362

212,701

Virtusa

Corporation

a

8,635,661

Total

105,181,032

Materials

(7.9%)

156,389

Boise

Cascade

Company

7,286,164

674,042

Element

Solutions,

Inc.

a

7,320,096

1,509,991

Ivanhoe

Mines,

Ltd.

a

5,320,958

556,550

Louisiana-Pacific

Corporation

17,625,938

102,168

UFP

Technologies,

Inc.

a

4,407,528

88,837

United

States

Lime

&

Minerals,

Inc.

8,013,986

Total

49,974,670

Real

Estate

(5.9%)

57,912

Agree

Realty

Corporation

3,878,367

166,931

American

Campus

Communities,

Inc.

5,949,421

115,389

Colliers

International

Group,

Inc.

b

6,232,160

18,143

CoreSite

Realty

Corporation

2,341,354

133,057

National

Storage

Affiliates

Trust

4,100,817

132,735

Rayonier,

Inc.

REIT

3,687,378

894,086

Sunstone

Hotel

Investors,

Inc.

6,687,763

Small

Cap

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

263

Shares

Common

Stock

(97.3%)

Value

Real

Estate

(5.9%)

-

continued

71,677

Terreno

Realty

Corporation

$

4,355,094

Total

37,232,354

Utilities

(2.4%)

65,075

NorthWestern

Corporation

3,661,120

107,791

PNM

Resources,

Inc.

4,552,014

85,146

Portland

General

Electric

Company

3,757,493

52,129

Spire,

Inc.

3,214,274

Total

15,184,901

Total

Common

Stock

(cost

$567,619,443)

617,709,773

Shares

Collateral

Held

for

Securities

Loaned

(

2.0%

)

Value

12,695,980

Thrivent

Cash

Management

Trust

12,695,980

Total

Collateral

Held

for

Securities

Loaned

(cost

$12,695,980)

12,695,980

Shares

Registered

Investment

Companies

(

1.9%

)

Value

Unaffiliated  (1.9%)

77,539

Health

Care

Select

Sector

SPDR

Fund

8,182,690

78,442

iShares

Dow

Jones

US

Home

Construction

Index

Fund

4,052,314

Total

12,235,004

Total

Registered

Investment

Companies

(cost

$9,877,703)

12,235,004

Shares

Short-Term

Investments

(

1.0%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

628,883

0.500%

6,295,121

Total

Short-Term

Investments

(cost

$6,291,760)

6,295,121

Total

Investments

(cost

$596,484,886)

102.2%

$648,935,878

Other

Assets

and

Liabilities,

Net

(2.2%)

(13,718,311)

Total

Net

Assets

100.0%

$635,217,567

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Small

Cap

Stock

Fund

as

of

July

31,

2020:

Securities

Lending

Transactions

Common

Stock

$

12,212,770

Total

lending

$12,212,770

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$12,695,980

Net

amounts

due

to

counterparty

$483,210

Definitions:

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Small

Cap

Stock

Fund

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

264

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

July

31,

2020,

in

valuing

Small

Cap

Stock

Fund's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

7,982,700

7,982,700

–

–

Consumer

Discretionary

53,011,426

53,011,426

–

–

Consumer

Staples

30,045,447

30,045,447

–

–

Energy

16,426,752

16,426,752

–

–

Financials

129,803,092

129,803,092

–

–

Health

Care

61,045,989

61,045,989

–

–

Industrials

111,821,410

111,821,410

–

–

Information

Technology

105,181,032

105,181,032

–

–

Materials

49,974,670

44,653,712

5,320,958

–

Real

Estate

37,232,354

37,232,354

–

–

Utilities

15,184,901

15,184,901

–

–

Registered

Investment

Companies

Unaffiliated

12,235,004

12,235,004

–

–

Subtotal

Investments

in

Securities

$629,944,777

$624,623,819

$5,320,958

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

6,295,121

Collateral

Held

for

Securities

Loaned

12,695,980

Subtotal

Other

Investments

$18,991,101

Total

Investments

at

Value

$648,935,878

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Fund.

The

Fund

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.  

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Small

Cap

Stock

Fund,

is

as

follows:

Fund

Value

10/31/2019

Gross

Purchases

Gross

Sales

Value

7/31/2020

Shares

Held

at

7/31/2020

%

of

Net

Assets

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$19,332

$113,516

$126,549

$6,295

629

1.0%

Total

Affiliated

Short-Term

Investments

19,332

6,295

1.0

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

21,914

234,238

243,456

12,696

12,696

2.0

Total

Collateral

Held

for

Securities

Loaned

21,914

12,696

2.0

Total

Value

$41,246

$18,991

Fund

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

11/1/2019

-

7/31/2020

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

0.500%

$(7)

$3

$0

$146

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$146

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment  

–

–

–

45

Total

Affiliated

Income

from

Securities

Loaned,

Net

$45

Total

$(7)

$3

$0

Notes

to

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

265

SIGNIFICANT

ACCOUNTING

POLICIES

Valuation

of

Investments 

—

Securities

traded

on

U.S.

or

foreign

securities

exchanges

or

included

in

a

national

market

system

are

valued

at

the

last

sale

price

on

the

principal

exchange

as

of

the

close

of

regular

trading

on

such

exchange

or

the

official

closing

price

of

the

national

market

system.  Over-the-counter

securities

and

listed

securities

for

which

no

price

is

readily

available

are

valued

at

the

current

bid

price

considered

best

to

represent

the

value

at

that

time.

Security

prices

are

based

on

quotes

that

are

obtained

from

an

independent

pricing

service

approved

by

the

Trust’s

Board

of

Trustees

(“Board”).

The

pricing

service,

in

determining

values

of

fixed-income

securities,

takes

into

consideration

such

factors

as

current

quotations

by

broker/dealers,

coupon,

maturity,

quality,

type

of

issue,

trading

characteristics,

and

other

yield

and

risk

factors

it

deems

relevant

in

determining

valuations.

Securities

which

cannot

be

valued

by

the

approved

pricing

service

are

valued

using

valuations

obtained

from

dealers

that

make

markets

in

the

securities.

Exchange-listed

options and

futures

contracts

are

valued

at

the

primary

exchange

settle

price. 

Exchange

cleared

swap

agreements are

valued at the

clearinghouse

end

of

day

price. 

Swap

agreements

not

cleared

on

exchanges will

be

valued at

the

mid-price

from

the

primary

approved pricing

service. 

Forward

foreign

currency

exchange

contracts

are

marked-to-

market

based

upon

foreign

currency

exchange

rates

provided

by

the

pricing

service.

Investments

in

open-ended

mutual

funds

are

valued

at

the

net

asset

value

at

the

close

of

each

business

day.

Securities

held

by

the

Money

Market

Fund

are

valued

on

the

basis

of

amortized

cost

(which

approximates

market

value),

whereby

a

portfolio

security

is

valued

at

its

cost

initially

and

thereafter

valued

to

reflect

a

constant

amortization

to

maturity

of

any

discount

or

premium.

The

Money

Market

Fund

and

the

Trust’s

investment

adviser,

Thrivent

Asset

Management,

LLC

(“Thrivent

Asset

Mgt.”

or

the

“Adviser”),

follow

procedures

designed

to

help

maintain

a

constant

net

asset

value

of

$1.00

per

share. 

The

Board

has

delegated

responsibility

for

daily

valuation

of

the

Funds'

securities

to

the

Funds'

investment

Adviser.

The

Adviser

has

formed

a

Valuation

Committee

(“Committee”)

that

is

responsible

for

overseeing

the

Funds'

valuation

policies

in

accordance

with

Valuation

Policies

and

Procedures.

The

Committee

meets

on

a

monthly

and

on

an

as-needed

basis

to

review

price

challenges,

price

overrides,

stale

prices,

shadow

prices,

manual

prices,

money

market

pricing,

international

fair

valuation,

and

other

securities

requiring

fair

valuation. 

The

Committee

monitors

for

significant

events

occurring

prior

to

the

close

of

trading

on

the

New

York

Stock

Exchange

that

could

have

a

material

impact

on

the

value

of

any

securities

that

are

held

by

the

Funds.

Examples

of

such

events

include

trading

halts,

national

news/events,

and

issuer-specific

developments.

If

the

Committee

decides

that

such

events

warrant

using

fair

value

estimates,

the

Committee

will

take

such

events

into

consideration

in

determining

the

fair

value

of

such

securities.

If

market

quotations

or

prices

are

not

readily

available

or

determined

to

be

unreliable,

the

securities

will

be

valued

at

fair

value

as

determined

in

good

faith

pursuant

to

procedures

adopted

by

the

Board.

In

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

("GAAP"),

the

various

inputs

used

to

determine

the

fair

value

of

the

Funds’

investments

are

summarized

in

three

broad

levels.  Level

1

includes

quoted

prices

in

active

markets

for

identical

securities,

typically

included

in

this

level

are

U.S.

equity

securities,

futures,

options

and

registered

investment

company

funds.  Level

2

includes

other

significant

observable

inputs

such

as

quoted

prices

for

similar

securities,

interest

rates,

prepayment

speeds

and

credit

risk,

typically

included

in

this

level

are

fixed

income

securities,

international

securities,

swaps

and

forward

contracts.  Level

3

includes

significant

unobservable

inputs

such

as

the

Adviser’s

own

assumptions

and

broker

evaluations

in

determining

the

fair

value

of

investments.

The

valuation

levels

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

these

securities

or

other

investments. 

Investments

measured

using

net

asset

value

per

share

as

a

practical

expedient

for

fair

value

and

that

are

not

publicly

available

for

sale

are

not

categorized

within

the

fair

value

hierarchy.

Valuation

of

International

Securities

—

The

Funds

value

certain

foreign

securities

traded

on

foreign

exchanges

that

close

prior

to

the

close of

the

New

York

Stock

Exchange

using

a

fair

value

pricing

service. 

The

fair

value

pricing

service

uses

a

multi-factor

model

that

may

take

into

account

the

local

close,

relevant

general

and

sector

indices,

currency

fluctuation,

prices

of

other

securities

(including

ADRs,

New

York

registered

shares,

and

ETFs),

and

futures,

as

applicable,

to

determine

price

adjustments

for

each

security

in

order

to

reflect

the

effects

of

post-closing

events. 

The

Board

has

authorized

the

Adviser

to

make

fair

valuation

determinations

pursuant

to

policies

approved

by

the

Board.

Derivative

Financial

Instruments 

—

Each Fund,

with

the

exception

of the

Money

Market

Fund,

may

invest

in

derivatives, a

category

that

includes

options,

futures,

swaps,

foreign

currency

forward

contracts

and

hybrid

instruments. Derivatives are

financial

instruments

whose

value

is

derived

from

another

security,

an

index

or

a

currency.

Each applicable

Fund

may

use

derivatives

for

hedging

(attempting

to

offset

a

potential

loss

in

one

position

by

establishing

an

interest

in

an

opposite

position).

This

includes

the

use

of

currency-based

derivatives to

manage

the

risk

of its

positions

in

foreign

securities.

Each applicable

Fund

may

also

use

derivatives

for

replication

of

a

certain

asset

class

or

speculation

(investing

for

potential

income

or

capital

gain).

These

contracts

may

be

transacted

on

an

exchange

or

over-the-counter

("OTC").

A

derivative

may

incur

a

mark

to

market

loss

if

the

value

of

the

derivative

decreases

due

to

an

unfavorable

change

in

the

market

rates

or

values

of

the

underlying

derivative.

Losses

can

also

occur

if

the

counterparty

does

not

perform

under

the

derivative.

A

Fund’s

risk

of

loss

from

the

counterparty

credit

risk

on

OTC

derivatives

is

generally

limited

to

the

aggregate

unrealized

gain

netted

against

any

collateral

held

by

such

Fund.

With

exchange

traded

futures

and

centrally

cleared

swaps,

there

is

minimal

counterparty

credit

risk

to

the

Funds

because

the

exchange’s

clearinghouse,

as

Notes

to

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

266

counterparty

to

such

derivatives,

guarantees

against

a

possible

default.

The

clearinghouse

stands

between

the

buyer

and

the

seller

of

the

derivative;

thus,

the

credit

risk

is

limited

to

the

failure

of

the

clearinghouse.

However,

credit

risk

still

exists

in

exchange

traded

futures

and

centrally

cleared

swaps

with

respect

to

initial

and

variation

margin

that

is

held

in

a

broker’s

customer

accounts.

While

brokers

are

required

to

segregate

customer

margin

from

their

own

assets,

in

the

event

that

a

broker

becomes

insolvent

or

goes

into

bankruptcy

and

at

that

time

there

is

a

shortfall

in

the

aggregate

amount

of

margin

held

by

the

broker

for

all

its

clients,

U.S.

bankruptcy

laws

will

typically

allocate

that

shortfall

on

a

pro-

rata

basis

across

all

of

the

broker’s

customers,

potentially

resulting

in

losses to

the

Funds.

Using

derivatives

to

hedge

can

guard

against

potential

risks,

but

it

also

adds

to

the

Funds'

expenses

and

can

eliminate

some

opportunities

for

gains.

In

addition,

a

derivative

used

for mitigating

exposure or

replication

may

not

accurately

track

the

value

of

the

underlying

asset.

Another

risk

with

derivatives

is

that

some

types

can

amplify

a

gain

or

loss,

potentially

earning

or

losing

substantially

more

money

than

the

actual

cost

of

the

derivative.

 In

order

to

define

their

contractual

rights

and

to

secure

rights

that

will

help

the

Funds

mitigate

their

counterparty

risk,

the

Funds

may

enter

into

an

International

Swaps

and

Derivatives

Association,

Inc.

Master

Agreement

(“ISDA

Master

Agreement”)

or

similar

agreement

with derivative

contract

counterparties.

An

ISDA

Master

Agreement

is

a

bilateral

agreement

between

a

Fund

and

a

counterparty

that

governs

OTC

derivatives

and

foreign

exchange

contracts

and

typically

includes,

among

other

things,

collateral

posting

terms

and

netting

provisions

in

the

event

of

a

default

and/or

termination

event.

Under

an

ISDA

Master

Agreement,

each

Fund

may,

under

certain

circumstances,

offset

with

the

counterparty

certain

derivatives'

payables

and/or

receivables

with

collateral

held

and/or

posted

and

create

one

single

net

payment.

The

provisions

of

the

ISDA

Master

Agreement

typically

permit

a

single

net

payment

in

the

event

of

a

default

(close-out

netting)

including

the

bankruptcy

or

insolvency

of

the

counterparty.

Note,

however,

that

bankruptcy

and

insolvency

laws

of

a

particular

jurisdiction

may

impose

restrictions

on

or

prohibitions

against

the

right

of

offset

in

bankruptcy,

insolvency

or

other

events.

Collateral

and

margin

requirements

vary

by

type

of

derivative.

Margin

requirements

are

established

by

the

broker

or

clearinghouse

for

exchange

traded

and

centrally

cleared

derivatives

(futures,

options,

and

centrally

cleared

swaps).

Brokers

can

ask

for

margining

in

excess

of

the

minimum requirements in

certain

situations.

Collateral

terms

are

contract

specific

for

OTC

derivatives

(foreign

currency

exchange

contracts,

options

and

swaps).

For

derivatives

traded

under

an

ISDA

Master

Agreement,

the

collateral

requirements

are

typically

calculated

by

netting

the

mark

to

market

amount

for

each

transaction

under

such

agreement

and

comparing

that

amount

to

the

value

of

any

collateral

currently

pledged

by

the

Fund

and

the

counterparty.

For

financial

reporting

purposes,

non-cash

collateral

that

has

been

pledged

to

cover

obligations

of

the

Fund

has

been

noted

in

the

Schedule

of

Investments.

To

the

extent

amounts

due

to a

Fund

from

its

counterparties

are

not

fully

collateralized,

contractually

or

otherwise,

the

Fund

bears

the

risk

of

loss

from

counterparty

nonperformance.

The

Funds

attempt

to

mitigate

counterparty

risk

by

only

entering

into

agreements

with

counterparties

that

they

believe

have

the

financial

resources

to

honor

their

obligations

and

by

monitoring

the

financial

stability

of

those

counterparties.

Options 

—

All

Funds,

with

the

exception

of the

Money

Market

Fund, may

buy

put

and

call

options

and

write

put

and

covered

call

options.

The

Funds

intend

to

use

such

derivative

instruments

as

hedges

to

facilitate

buying

or

selling

securities

or

to

provide

protection

against

adverse

movements

in

security

prices

or

interest

rates.

The

Funds

may

also

enter

into

options

contracts

to

protect

against

adverse

foreign

exchange

rate

fluctuations.

Option

contracts

are

valued

daily

and

unrealized

appreciation

or

depreciation

is

recorded.

A

Fund

will

realize

a

gain

or

loss

upon

expiration

or

closing

of

the

option

transaction.

When

an

option

is

exercised,

the

proceeds

upon

sale

for

a

written

call

option

or

the

cost

of

a

security

for

purchased

put

and

call

options

is

adjusted

by

the

amount

of

premium

received

or

paid.

Buying

put

options

tends

to

decrease

a

Fund’s

exposure

to

the

underlying

security

while

buying

call

options

tends

to

increase

a

Fund’s

exposure

to

the

underlying

security.

The

risk

associated

with

purchasing

put

and

call

options

is

limited

to

the

premium

paid.

There

is

no

significant

counterparty

risk

on

exchange-traded

options

as

the

exchange

guarantees

the

contract

against

default.

Writing

put

options

tends

to

increase

a

Fund’s

exposure

to

the

underlying

security

while

writing

call

options

tends

to

decrease

a

Fund’s

exposure

to

the

underlying

security.

The

writer

of

an

option

has

no

control

over

whether

the

underlying

security

may

be

bought

or

sold,

and

therefore

bears

the

market

risk

of

an

unfavorable

change

in

the

price

of

the

underlying

security.

The

counterparty

risk

for

purchased

options

arises

when

a

Fund

has

purchased

an

option,

exercises

that

option,

and

the

counterparty

doesn’t

buy

from

the

Fund

or

sell

to

the

Fund

the

underlying

asset

as

required.

In

the

case

where

a

Fund

has

written

an

option,

the

Fund

doesn’t

have

counterparty

risk.

Counterparty

risk

on

purchased

over-

the-counter

options

is

partially

mitigated

by

the

Fund’s

collateral

posting

requirements.

As

the

option

increases

in

value

to

the

Fund,

the

Fund

receives

collateral

from

the

counterparty.

Risks

of

loss

may

exceed

amounts

recognized

on

the

Statement

of

Assets

and

Liabilities.

During

the

period

ended

July

31,

2020,

Aggressive

Allocation,

Government

Bond,

Moderate

Allocation,

Moderately

Aggressive

Allocation,

and

Moderately

Conservative

Allocation

used options

on

mortgage

backed

securities to

generate

income

and/or

to

manage

the

duration

of

the

Fund.

Futures

Contracts 

—

All

Funds,

with

the

exception

of

the

Money

Market

Fund, may

use

futures

contracts

to

manage

the

exposure

to

interest

rate

and

market

or

currency

fluctuations.

Gains

or

losses

on

futures

contracts

can

offset

changes

in

the

yield

of

securities.

When

a

futures

contract

is

opened,

cash

or

other

investments

equal

to

the

required

“initial

margin

deposit”

are

held

on

deposit

with

and

pledged

to

the

broker.

Additional

Notes

to

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

267

securities

held

by

the

Funds

may

be

earmarked

to

cover

open

futures

contracts. A

futures

contract’s

daily

change

in

value

(“variation

margin”)

is

either

paid

to

or

received

from

the

broker,

and

is

recorded

as

an

unrealized

gain

or

loss.

When

the

contract

is

closed,

realized

gain

or

loss

is

recorded

equal

to

the

difference

between

the

value

of

the

contract

when

opened

and

the

value

of

the

contract

when

closed.

Futures

contracts

involve,

to

varying

degrees,

risk

of

loss

in

excess

of

the

variation

margin

disclosed

in

the

Statement

of

Assets

and

Liabilities.

Exchange-traded

futures

have

no

significant

counterparty

risk

as

the

exchange

guarantees

the

contracts

against

default.

During

the period

ended July

31,

2020, Aggressive

Allocation,

Balanced

Income

Plus,

Government

Bond,

High

Income

Municipal

Bond, Income, Limited

Maturity

Bond,

Moderate

Allocation,

Moderately

Aggressive

Allocation,

Moderately

Conservative

Allocation, and

Opportunity

Income

Plus

used

treasury

futures

to

manage

the

duration

and yield

curve

exposure

of

the

Fund

versus

the

benchmark.

During

the period

ended July

31,

2020,

Aggressive

Allocation,

Balanced

Income

Plus, Global

Stock,

International

Allocation,

Low

Volatility

Equity,

Moderate

Allocation,

Moderately

Aggressive

Allocation, Moderately

Conservative

Allocation

and

Opportunity

Income

Plus

used

equity

futures

to

manage

exposure

to

the

equities

markets.

During

the period

ended July

31,

2020,

Aggressive

Allocation, Balanced

Income

Plus,

Global

Stock,

International

Allocation,

Moderate

Allocation,

Moderately

Aggressive

Allocation

and

Moderately

Conservative

Allocation

used

foreign

exchange

futures

to

hedge

the

currency

risk.

Foreign

Currency

Forward

Contracts 

—

In

connection

with

purchases

and

sales

of

securities

denominated

in

foreign

currencies,

all

Funds,

with

the

exception

of the

Money

Market

Fund,

may

enter

into

foreign

currency

forward contracts.

Additionally,

the

Funds

may

enter

into

such

contracts

to mitigate

currency

and

counterparty

exposure

to other

foreign-currency-denominated

investments.

These

contracts

are

recorded

at

value

and

the realized-

and

change

in

unrealized-

foreign

exchange

gains

and

losses

are

included

in

the

Statement

of

Operations.

In

the

event

that

counterparties

fail

to

settle

these forward

contracts,

the

Funds

could

be

exposed

to

foreign

currency

fluctuations.

Foreign

currency

contracts

are

valued

daily

and

unrealized

appreciation

or

depreciation

is

recorded

daily

as

the

difference

between

the

contract

exchange

rate

and

the

closing

forward

rate

applied

to

the

face

amount

of

the

contract.

A

realized

gain

or

loss

is

recorded

at

the

time

a

forward

contract

is

closed.

These

contracts

are

over-the-counter

and a

Fund

is

exposed

to

counterparty

risk

equal

to

the

discounted

net

amount

of

payments

to

the

Fund.

Swap

Agreements 

—

All

Funds,

with

the

exception

of

the

Money

Market

Fund, may enter

into

swap

transactions,

which

involve

swapping

one

or

more

investment

characteristics

of

a

security

or

a

basket

of

securities

with

another

party.

Such

transactions

include

market

risk,

risk

of

default

by

the

other

party

to

the

transaction,

risk

of

imperfect

correlation

and

manager

risk

and

may

involve

commissions

or

other

costs.

Swap

transactions

generally

do

not

involve

delivery

of

securities,

other

underlying

assets

or

principal.

Accordingly,

the

risk

of

loss

with

respect

to

swap

transactions

is

generally

limited

to

the

net

amount

of

payments

that

the

Fund

is

contractually

obligated

to

make,

or

in

the

case

of

the

counterparty

defaulting,

the

net

amount

of

payments

that

the

Fund

is

contractually

entitled

to

receive.

Risks

of

loss

may

exceed

amounts

recognized

on

the

Statement

of

Assets

and

Liabilities.

If

there

is

a

default

by

the

counterparty,

the

Fund

may

have

contractual

remedies

pursuant

to

the

agreements

related

to

the

transaction.

The

contracts

are

valued

daily

and

unrealized

appreciation

or

depreciation

is

recorded.

Swap

agreements

are

valued

at

the

clearinghouse

end

of

day

prices

as

furnished by

an

independent

pricing

service.

The

pricing

service

takes

into

account

such

factors

as

swap

curves,

default

probabilities,

recent

trades,

recovery

rates

and

other

factors

it

deems

relevant

in

determining

valuations.

Daily

fluctuations

in

the

value

of

the

centrally

cleared

credit

default

contracts

are

recorded

in

variation

margin

in

the

Statement

of

Assets

and

Liabilities

and

recorded

as

unrealized

gain

or

loss.

The

Fund

accrues

for

the

periodic

payment

and

amortizes

upfront

payments,

if

any,

on

swap

agreements

on

a

daily

basis

with

the

net

amount

recorded

as

realized

gains

or

losses

in

the

Statement

of

Operations.

Receipts

and

payments

received

or

made

as

a

result

of

a

credit

event

or

termination

of

the

contract

are

also

recognized

as

realized

gains

or

losses

in

the

Statement

of

Operations.

Collateral,

in

the

form

of

cash

or

securities,

may

be

required

to

be

held

with

the

Fund’s

custodian,

or

a

third

party,

in

connection

with

these

agreements.

Certain swap

agreements

are

over-the-counter. In

these

types

of

transactions,

the

Fund

is

exposed

to

counterparty

risk,

which

is

the

discounted

net

amount

of

payments

owed

to

the

Fund.

This

risk

is

partially

mitigated

by

the

Fund’s

collateral

posting

requirements.

As

the

swap

increases

in

value

to

the

Fund,

the

Fund

receives

collateral

from

the

counterparty.  Certain

interest

rate

and

credit

default

index

swaps

must

be

cleared

through

a

clearinghouse

or

central

counterparty.

Credit

Default

Swaps 

—

A

credit

default

swap

is

a

swap

agreement

between

two

parties

to

exchange

the

credit

risk

of

a

particular

issuer,

basket

of

securities

or

reference

entity.

In

a

credit

default

swap

transaction,

a

buyer

pays

periodic

fees

in

return

for

payment

by

the

seller

which

is

contingent

upon

an

adverse

credit

event

occurring

in

the

underlying

issuer

or

reference

entity.

The

seller

collects

periodic

fees

from

the

buyer

and

profits

if

the

credit

of

the

underlying

issuer

or

reference

entity

remains

stable

or

improves

while

the

swap

is

outstanding,

but

the

seller

in

a

credit

default

swap

contract

would

be

required

to

pay

the

amount

of

credit

loss,

determined

as

specified

in

the

agreement,

to

the

buyer

in

the

event

of

an

adverse

credit

event

in

the

reference

entity.

A

buyer

of

a

credit

default

swap

is

said

to

buy

protection

whereas

a

seller

of

a

credit

default

swap

is

said

to

sell

protection.

The

Funds

may

be

either

the

protection

seller

or

the

protection

buyer.

Certain

Funds

enter

into

credit

default

derivative

contracts

directly

through

credit

default

swaps

(CDS)

or

through

credit

Notes

to

Schedule

of

Investments

as

of

July

31,

2020

(unaudited)

268

default

swap

indices

("CDX

Indices").

CDX

indices

are

static

pools

of

equally

weighted

credit

default

swaps

referencing

corporate

bonds

and/or

loans

designed

to increase

or

decrease diversified

credit

exposure

to

these

asset

classes.

Funds

sell

default

protection

and

assume

long-risk

positions

in

individual

credits

or

indices.

Index

positions

are

entered

into

to

gain

exposure

to

the

corporate

bond

and/or

loan

markets

in

a

cost-efficient

and

diversified

structure.

In

the

event

that

a

position

defaults,

by

going

into

bankruptcy

and

failing

to

pay

interest

or

principal

on

borrowed

money,

within

any

given

CDX

Index

held,

the

maximum

potential

amount

of

future

payments

required

would

be

equal

to

the

pro-rata

share

of

that

position

within

the

index

based

on

the

notional

amount

of

the

index.

In

the

event

of

a

default

under

a

CDS

contract

the

maximum

potential

amount

of

future

payments

would

be

the

notional

amount.

Funds

buy

default

protection

in

order

to

reduce

their

overall

credit

exposure

to

the

corporate

bond

and/or

loan

markets

in

a

cost-efficient

and

diversified

structure. 

If

a

default

event

as

specified

in

the

CDS

reference

entity

agreement

occurs,

the

Fund

has

the

option

to

receive

a

cash

payment

in

exchange

for

the

credit

loss

or

the

reference

entity

obligation

as

of

the

date

of

the

credit

event. 

A

realized

gain

or

loss

is

recorded

upon

a

default

event

or

the

maturity

or

termination

of

the

CDS

agreement. 

For

CDS,

the

default

events

could

be

bankruptcy

and

failing

to

pay

interest

or

principal

on

borrowed

money

or

a

restructuring.

A

restructuring

is

a

change

in

the

underlying

obligations

which

could

include

a

reduction

in

interest

or

principal,

maturity

extension and

subordination

to

other

obligations.

During

the

period

ended July

31, 2020,

Balanced

Income

Plus,

High

Yield,

Income,

Limited

Maturity

Bond,

Moderate

Allocation,

Moderately

Aggressive

Allocation,

Moderately

Conservative

Allocation

and

Opportunity

Income

Plus

used

CDX

indexes

(comprised

of

credit

default

swaps)

to

help

manage

credit

risk

exposures

within

the

Fund.

Total

Rate

of

Return Swaps

—

A

total

rate

of

return

swap

is

a

swap

agreement

between

two

parties

to

exchange

the

total

return

of a

particular

reference

asset.  A

total

return

swap

involves

commitments

to

pay

interest

in

exchange

for

a

market

linked

return

based

on

a

notional

amount. 

To

the

extent

that

the

total

return

of

the

security,

group

of

securities,

or

index

underlying

the

transactions

exceeds

or

fall

short

of

the

offsetting

interest

obligation,

the

Funds

will

receive

a

payment

from

or

make

a

payment

to

the

counterparty. 

The

Funds

may

take

a

"long"

or

"short"

position

with

respect

to

the

underlying

referenced

asset. 

During

the

period

ended July

31,

2020,

Aggressive

Allocation

and

International

Allocation

used

total

rate

of

return

swaps

to

achieve

exposure

to asset

classes

where

liquid

futures

contracts

do

not

exist

or

where

pricing

of

the

swap

contract

is

more

attractive

than

the

futures

contract. 

For

financial

reporting

purposes,

the

Funds

do

not

offset

derivative

assets

and

derivative

liabilities

that

are

subject

to

netting

arrangements

in

the

Statement

of

Assets

and

Liabilities.

 Additional

information

for

the

Funds’

policy

regarding

valuation

of

investments

and

other

significant

accounting

policies

can

be

obtained

by

referring

to

the

Funds’

most

recent

annual

or

semiannual

shareholder

report.