UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-07572

Principal Funds, Inc.

(Exact name of registrant as specified in charter)

801 Grand Avenue, Des Moines, IA 50309
(Address of principal executive offices)

Principal Global Investors, LLC, 801 Grand Avenue, Des Moines, IA 50309

(Name and address of agent for service)

Registrant’s telephone number, including area code:		515-248-0156
Date of fiscal year end:	October 31, 2019
Date of reporting period:	January 31, 2019

ITEM 1 – SCHEDULE OF INVESTMENTS

Schedule of Investments
California Municipal Fund
January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 0.02%	Shares Held               Value (000's)						Principal
Exchange-Traded Funds - 0.02%					MUNICIPAL BONDS (continued)	Amount (000’s)		Value (000’s)
iShares California Muni Bond ETF		1,000	$	59	California (continued)
TOTAL INVESTMENT COMPANIES		$		59	California Statewide Communities Development
		Principal			Authority
MUNICIPAL BONDS - 101.09%	Amount (000's)             Value (000's)				4.00%, 02/01/2022	$	830	$	861
California - 100.15%					4.00%, 02/01/2025		940		1,000
Abag Finance Authority for Nonprofit Corps					4.00%, 07/01/2048		1,800		1,788
5.00%, 08/01/2043	$	1,500	$	1,634	5.00%, 10/01/2028		1,875		2,059
Alameda Community Improvement Commission					5.00%, 02/01/2030		2,775		3,037
Successor Agency  (credit support from BAM)					5.00%, 11/01/2032(e)		1,135		1,250
5.00%, 09/01/2031(a)		1,000		1,135	5.00%, 05/15/2034		4,855		5,402
Alameda Corridor Transportation Authority					5.00%, 12/01/2036(e)		5,000		5,311
5.00%, 10/01/2034		8,805		9,816	5.00%, 09/02/2038		3,000		3,210
5.00%, 10/01/2036		4,250		4,705	5.00%, 05/15/2040		3,500		3,816
Alameda Unified School District-Alameda					5.00%, 12/01/2041(e)		1,000		1,047
County/CA					5.00%, 10/01/2046		5,500		6,003
5.00%, 08/01/2032		1,795		2,096	5.25%, 12/01/2034		3,500		3,776
Alum Rock Union Elementary School District					5.25%, 12/01/2038(e)		1,000		1,086
5.25%, 08/01/2043		1,000		1,115	5.25%, 12/01/2043(e)		2,000		2,151
Anaheim Public Financing Authority					7.25%, 11/15/2041(e)		1,500		1,553
5.25%, 10/01/2034		1,000		1,006	California Statewide Communities Development
Bay Area Toll Authority					Authority  (credit support from FHA INS)
5.13%, 04/01/2039		3,000		3,018	6.25%, 08/01/2024(a)		775		791
California Educational Facilities Authority					California Statewide Financing Authority
5.00%, 10/01/2036		1,000		1,155	6.00%, 05/01/2043		2,050		2,061
5.00%, 10/01/2045		1,000		1,131	6.00%, 05/01/2043		1,550		1,559
5.38%, 04/01/2034		1,000		1,044	Chino Valley Unified School District
California Health Facilities Financing Authority					5.25%, 08/01/2047		2,900		3,379
5.00%, 08/15/2031		2,700		3,179	City of Atwater CA Wastewater Revenue  (credit
5.00%, 08/15/2033		1,750		2,014	support from AGM)
5.00%, 08/15/2034		2,000		2,313	5.00%, 05/01/2043(a)		1,000		1,128
5.00%, 02/01/2035		2,000		2,221	City of Compton CA Water Revenue
5.00%, 11/15/2046(b)		4,504		4,960	6.00%, 08/01/2039		1,250		1,266
5.00%, 08/15/2047		1,000		1,097	City of Irvine CA
5.00%, 11/15/2048		2,785		3,112	5.00%, 09/01/2049		2,000		2,114
5.75%, 09/01/2039		2,000		2,048	City of Los Angeles CA Wastewater System
6.00%, 07/01/2039		2,000		2,036	Revenue
California Health Facilities Financing					5.00%, 06/01/2034		2,000		2,301
Authority  (credit support from CA MTG INS)					City of Los Angeles Department of Airports
5.00%, 07/01/2035(a)		1,000		1,150	5.00%, 05/15/2026		1,000		1,164
California Municipal Finance Authority					5.00%, 05/15/2026		3,500		4,135
5.00%, 05/15/2033		1,000		1,134	5.00%, 05/15/2028		3,000		3,612
5.00%, 05/15/2034		1,000		1,129	5.00%, 05/15/2036		1,500		1,687
5.00%, 12/31/2034		3,550		3,995	5.00%, 05/15/2042		1,200		1,327
5.00%, 12/31/2036		3,000		3,345	5.00%, 05/15/2044(b)		3,100		3,471
5.25%, 11/01/2036		4,000		4,297	5.00%, 05/15/2047		3,500		3,890
California Pollution Control Financing Authority					City of Riverside CA Sewer Revenue
3.00%, 11/01/2025		10,600		10,775	5.00%, 08/01/2040		4,000		4,524
3.25%, 12/01/2027(c)		2,000		2,056	City of San Francisco CA Public Utilities
4.30%, 07/01/2040		3,400		3,557	Commission Water Revenue
5.00%, 07/01/2029(d),(e)		1,000		1,191	5.00%, 11/01/2034		1,800		2,093
5.00%, 07/01/2030(e)		2,000		2,118	5.00%, 11/01/2036		2,010		2,192
5.00%, 07/01/2037(e)		10,000		10,468	City of Vernon CA Electric System Revenue
5.00%, 07/01/2039(d),(e)		1,000		1,117	5.13%, 08/01/2021		280		285
5.00%, 11/21/2045(d),(e)		1,500		1,655	5.13%, 08/01/2021		805		817
California Public Finance Authority					Coachella Valley Unified School District/
5.00%, 07/01/2047(e)		1,000		1,005	CA  (credit support from AGM)
California School Finance Authority					0.00%, 08/01/2039(a),(f)		4,000		1,805
5.00%, 07/01/2035(e)		1,925		2,076	Compton Public Finance Authority
5.00%, 08/01/2036(e)		1,170		1,246	4.50%, 09/01/2032(e)		8,000		8,078
5.00%, 08/01/2038(e)		1,000		1,075	County of Sacramento CA Airport System
California State Public Works Board					Revenue
5.00%, 11/01/2037		1,375		1,506	5.00%, 07/01/2036		1,350		1,524
5.00%, 10/01/2039		4,500		5,037	5.00%, 07/01/2037		2,000		2,273
California State University					Dinuba Redevelopment Agency  (credit support
5.00%, 11/01/2037		2,000		2,311	from BAM)
5.25%, 11/01/2038		2,000		2,018	5.00%, 09/01/2033(a)		2,000		2,281

See accompanying notes.

1

     Schedule of Investments California Municipal Fund January 31, 2019 (unaudited)

		Principal					Principal
MUNICIPAL BONDS (continued)	Amount (000’s)			Value (000’s)	MUNICIPAL BONDS (continued)	Amount (000’s)		Value (000’s)
California (continued)					California (continued)
East Bay Municipal Utility District Water System					Port Commission of the City & County of San
Revenue					Francisco
3.00%, 06/01/2037	$	10	$	9	4.00%, 03/01/2035	$	1,000	$	1,031
5.00%, 06/01/2036		1,000		1,046	Port of Los Angeles
El Monte Union High School District  (credit					5.00%, 08/01/2032		1,740		1,969
support from AGC)					Poway Unified School District
5.50%, 06/01/2034(a)		2,000		2,026	0.00%, 08/01/2036(f)		4,000		2,114
Escondido Union High School District					Regents of the University of California Medical
0.00%, 08/01/2041(f)		1,000		410	Center Pooled Revenue
Foothill-De Anza Community College District					5.00%, 05/15/2035		4,540		5,165
5.00%, 08/01/2040		1,500		1,630	Rialto Redevelopment Agency
Golden State Tobacco Securitization Corp					5.00%, 09/01/2037		1,000		1,156
5.00%, 06/01/2026		1,000		1,138	Richmond Joint Powers Financing Authority
5.00%, 06/01/2028		7,000		7,963	6.25%, 07/01/2024		1,000		1,019
5.25%, 06/01/2047		10,000		9,839	Ripon Unified School District  (credit support
5.30%, 06/01/2037		4,000		3,995	from BAM)
Golden State Tobacco Securitization Corp  (credit					0.00%, 08/01/2033(a),(f)		855		452
support from ST APPROP)					Ripon Unified School District -
5.00%, 06/01/2033(a)		2,000		2,251	Unrefunded  (credit support from BAM)
Indio Redevelopment Agency Successor Agency					0.00%, 08/01/2033(a),(f)		255		134
5.63%, 08/15/2035		330		331	Riverside Community Properties Development
Inland Valley Development Agency					Inc
5.25%, 09/01/2037		1,000		1,122	6.00%, 10/15/2038		1,000		1,200
Irvine Ranch Water District					Riverside County Public Financing
1.30%, 10/01/2041(c)		3,500		3,500	Authority  (credit support from BAM)
La Verne Public Financing Authority					5.00%, 10/01/2029(a)		1,500		1,755
7.25%, 09/01/2026		650		651	Riverside County Transportation Commission
Lancaster Redevelopment Agency Successor					5.00%, 06/01/2032		1,500		1,568
Agency					Sacramento Area Flood Control Agency
6.88%, 08/01/2039		545		559	5.00%, 10/01/2033		2,000		2,333
Long Beach Bond Finance Authority					Salinas Valley Solid Waste Authority  (credit
5.00%, 11/15/2035		2,915		3,454	support from AGM)
5.50%, 11/15/2030		1,010		1,246	5.50%, 08/01/2031(a)		1,500		1,735
Los Angeles County Public Works Financing					San Diego Association of Governments South
Authority					Bay Expressway Revenue
5.00%, 12/01/2033		2,000		2,304	5.00%, 07/01/2036		1,500		1,717
5.00%, 08/01/2042		1,400		1,531	5.00%, 07/01/2037		2,300		2,621
5.00%, 12/01/2045(b)		5,500		6,138	San Diego Convention Center Expansion
Los Angeles County Sanitation Districts					Financing Authority
Financing Authority					5.00%, 04/15/2025		5,000		5,518
5.00%, 10/01/2035		4,500		5,195	San Diego County Regional Airport Authority
Los Angeles Unified School District/CA					5.00%, 07/01/2042		5,000		5,554
5.00%, 07/01/2029		2,000		2,027	San Diego Public Facilities Financing Authority
Marin Healthcare District					5.38%, 08/01/2034		2,000		2,038
5.00%, 08/01/2034		1,000		1,161	San Diego Redevelopment Agency Successor
Merced Union High School District					Agency
0.00%, 08/01/2032(f)		3,380		2,159	6.40%, 09/01/2019		275		276
Norco Community Redevelopment Agency					San Francisco Bay Area Rapid Transit District
Successor Agency  (credit support from BAM)					Sales Tax Revenue
5.00%, 03/01/2032(a)		1,000		1,129	5.00%, 07/01/2028		1,755		1,840
Norco Financing Authority  (credit support from					San Francisco City & County Airport Comm-San
AGM)					Francisco International Airport
5.63%, 10/01/2034(a)		1,000		1,024	5.00%, 05/01/2031		1,000		1,173
Norman Y Mineta San Jose International Airport					5.00%, 05/01/2042		1,500		1,665
SJC					San Francisco City & County Redevelopment
5.00%, 03/01/2041		6,000		6,655	Agency Successor Agency
5.00%, 03/01/2047		1,500		1,682	5.00%, 08/01/2044		1,500		1,594
Oakland Unified School District/Alameda County					San Francisco City & County Redevelopment
5.00%, 08/01/2040		3,400		3,882	Financing Authority
Pittsburg Successor Agency Redevelopment					6.50%, 08/01/2039		1,000		1,025
Agency  (credit support from AGM)					San Joaquin Hills Transportation Corridor Agency
5.00%, 09/01/2028(a)		1,000		1,175	5.00%, 01/15/2034		6,185		6,790
5.00%, 09/01/2029(a)		1,000		1,168	San Luis Obispo County Financing
Pittsburg Unified School District					Authority  (credit support from AGM)
5.00%, 08/01/2043		2,900		3,249	5.00%, 08/01/2030(a)		1,000		1,073
Pomona Unified School District  (credit support					San Luis Obispo County Financing
from NATL)					Authority  (credit support from BAM)
6.15%, 08/01/2030(a)		1,000		1,135	5.00%, 09/01/2037(a)		1,000		1,136

See accompanying notes.

2

Schedule of Investments
California Municipal Fund
January 31, 2019 (unaudited)

		Principal				(a)	Credit support indicates investments that benefit from credit enhancement or
MUNICIPAL BONDS (continued)	Amount (000’s)   Value (000’s)						liquidity support provided by a third party bank, institution, or government
California (continued)							agency.
Semitropic Improvement District						(b)	Security or portion of underlying security related to Inverse Floaters
5.00%, 12/01/2038	$	2,000	$	2,056			entered into by the Fund.  See Notes to Financial Statements for additional
Southern California Public Power Authority							information.
5.00%, 11/01/2028		2,000		2,314		(c)	Certain variable rate securities are not based on a published reference rate
5.00%, 11/01/2029		2,480		2,871			and spread but are determined by the issuer or agent and are based on current
5.25%, 07/01/2029		695		749			market conditions.  These securities do not indicate a reference rate and
5.25%, 07/01/2031		695		749			spread in their description. Rate shown is the rate in effect as of period end.
State of California						(d)	Security purchased on a when-issued basis.
2.45%, 12/01/2031		620		610		(e)	Security exempt from registration under Rule 144A of the Securities Act of
4.00%, 09/01/2033		2,080		2,233			1933. These securities may be resold in transactions exempt from registration,
5.00%, 09/01/2034		5,000		5,775			normally to qualified institutional buyers. At the end of the period, the value of
5.00%, 02/01/2038		1,450		1,583			these securities totaled $42,427 or 10.60% of net assets.
5.00%, 04/01/2043		3,380		3,671		(f)	Non-income producing security
5.25%, 11/01/2040		1,500		1,581		(g)	Floating rate securities. The interest rate(s) shown reflect the rates in effect at
5.75%, 04/01/2031		675		679			January 31, 2019.
6.00%, 03/01/2033		2,000		2,093
6.00%, 04/01/2038		1,940		1,953			Portfolio Summary  (unaudited)
6.00%, 04/01/2038		1,060		1,068		Sector		Percent
Stockton East Water District  (credit support from						Revenue Bonds		71.88	%
NATL)						General Obligation Unlimited		9.95	%
5.25%, 04/01/2022(a)		1,780		1,785		Prerefunded		7.75	%
Stockton Unified School District  (credit support						Insured		7.68	%
from AGM)						Special Assessment		2.25	%
5.00%, 08/01/2038(a)		1,500		1,674		Special Tax		0.93	%
Tobacco Securitization Authority of Southern						Tax Allocation		0.65	%
California						Investment Companies		0.02	%
5.13%, 06/01/2046		1,500		1,500		Liability For Floating Rate Notes Issued		(1.64	)%
Travis Unified School District  (credit support						Other Assets and Liabilities		0.53	%
from AGM)						TOTAL NET ASSETS		100.00	%
5.00%, 09/01/2029(a)		1,000		1,170
Tulare County Transportation Authority
5.00%, 02/01/2029		1,000		1,140
Tustin Public Financing Authority
5.00%, 04/01/2041		1,000		1,075
University of California
5.00%, 05/15/2044		1,000		1,114
Walnut Energy Center Authority
5.00%, 01/01/2035		1,225		1,258
Western Municipal Water District Facilities
Authority
5.00%, 10/01/2034		1,700		1,737
Woodland-Davis Clean Water Agency  (credit
support from AGM)
5.00%, 03/01/2039(a)		1,500		1,686
		$		400,762
Guam - 0.94%
Guam Government Waterworks Authority
5.00%, 01/01/2046		2,525		2,654
Port Authority of Guam
5.00%, 07/01/2048		1,000		1,088
		$		3,742
TOTAL MUNICIPAL BONDS		$		404,504
Total Investments		$		404,563
Liability for Floating Rate Notes Issued in Conjunction with
Securities Held - (1.64)%
Notes with interest rates of 1.43% - 1.49% at	$	(6,554	) $	(6,554	)
January 31, 2019 and contractual maturity of
collateral of 2023-2025.(g)
Total Net Investments		$		398,009
Other Assets and Liabilities -  0.53%				2,139
TOTAL NET ASSETS - 100.00%		$		400,148

See accompanying notes.

3

Schedule of Investments
Core Plus Bond Fund
January 31, 2019 (unaudited)
COMMON STOCKS - 0.04%	Shares Held         Value (000's)					Principal
Oil & Gas - 0.03%					BONDS (continued)	Amount (000’s)		Value (000’s)
Chaparral Energy Inc - A Shares (a)		73,263	$	564	Agriculture (continued)
Patterson-UTI Energy Inc		29,049		352	BAT Capital Corp
		$		916	3.20%, 08/14/2020	$	110	$	109
Retail - 0.01%					3 Month USD LIBOR + 0.59%
Claire's Holdings LLC (a),(b),(c)		232		174	3.22%, 08/15/2024		1,890		1,808
TOTAL COMMON STOCKS		$		1,090	4.54%, 08/15/2047		605		497
INVESTMENT COMPANIES - 4.96%	Shares Held        Value (000's)				BAT International Finance PLC
Exchange-Traded Funds - 0.01%					0.88%, 10/13/2023	EUR	250		282
SPDR Bloomberg Barclays High Yield Bond ETF		10,000		354	2.25%, 01/16/2030		600		645
Money Market Funds - 4.95%					6.00%, 11/24/2034	GBP	200		327
Principal Government Money Market Fund	153,923,288			153,923	Imperial Brands Finance PLC
2.32%(d),(e)					3.38%, 02/26/2026	EUR	150		186
TOTAL INVESTMENT COMPANIES		$		154,277	3.75%, 07/21/2022(h)	$	3,065		3,055
PREFERRED STOCKS - 0.16%	Shares Held       Value (000's)				4.88%, 06/07/2032	GBP	150		217
					5.50%, 09/28/2026		100		150
Agriculture - 0.01%					JBS Investments II GmbH
Pinnacle Operating Corp 0.00% (a),(c),(f)		925,862	$	148	7.00%, 01/15/2026(h)	$	1,135		1,152
Retail - 0.00%					Philip Morris International Inc
Claire's Stores 0.00% (a),(b),(c)		61		61	1.88%, 02/25/2021		1,750		1,713
Sovereign - 0.11%					2.38%, 08/17/2022		1,745		1,704
CoBank ACB 6.20%, 01/01/2025 (g)		35,000		3,500	4.38%, 11/15/2041		280		261
3 Month USD LIBOR + 3.74%					Pinnacle Operating Corp
Telecommunications - 0.04%					9.00%, 05/15/2023(h)		1,329		718
Verizon Communications Inc 5.90%, 02/15/2054		50,000		1,303	Reynolds American Inc
TOTAL PREFERRED STOCKS		$		5,012	5.70%, 08/15/2035		3,035		3,050
	Principal				5.85%, 08/15/2045		880		854
BONDS - 61.77%	Amount (000's)			Value (000's)	6.88%, 05/01/2020		9,940		10,362
Advertising - 0.01%					7.00%, 08/04/2041		1,475		1,524
Lamar Media Corp							$		31,012
5.00%, 05/01/2023	$	155	$	156	Airlines - 0.87%
Outfront Media Capital LLC / Outfront Media					American Airlines 2013-1 Class B Pass Through
Capital Corp					Trust
5.25%, 02/15/2022		115		116	5.63%, 07/15/2022(h)		197		199
		$		272	American Airlines 2013-2 Class A Pass Through
Aerospace & Defense - 1.15%					Trust
Air 2 US					4.95%, 07/15/2024		5,474		5,590
8.63%, 10/01/2020(h)		36		36	American Airlines 2014-1 Class A Pass Through
Arconic Inc					Trust
5.40%, 04/15/2021		250		254	3.70%, 04/01/2028		1,346		1,316
Bombardier Inc					American Airlines 2015-1 Class A Pass Through
6.13%, 01/15/2023(h)		55		53	Trust
7.50%, 03/15/2025(h)		2,745		2,646	3.38%, 11/01/2028		3,085		2,945
8.75%, 12/01/2021(h)		1,190		1,263	American Airlines 2015-1 Class B Pass Through
Lockheed Martin Corp					Trust
2.90%, 03/01/2025		3,775		3,704	3.70%, 11/01/2024		184		179
3.35%, 09/15/2021		2,360		2,395	American Airlines 2016-3 Class A Pass Through
3.55%, 01/15/2026		1,155		1,170	Trust
Rockwell Collins Inc					3.25%, 04/15/2030		1,180		1,113
3.50%, 03/15/2027		150		144	American Airlines 2017-1 Class AA Pass Through
TransDigm Inc					Trust
6.25%, 03/15/2026(h),(i)		675		685	3.65%, 08/15/2030		2,078		2,037
6.50%, 07/15/2024		110		108	Continental Airlines 2007-1 Class A Pass Through
Triumph Group Inc					Trust
5.25%, 06/01/2022		385		337	5.98%, 10/19/2023		1,419		1,480
7.75%, 08/15/2025		2,080		1,773	Continental Airlines 2012-1 Class A Pass Through
United Technologies Corp					Trust
2.80%, 05/04/2024		3,130		3,029	4.15%, 10/11/2025		3,723		3,722
3.10%, 06/01/2022		2,320		2,312	United Airlines 2014-2 Class A Pass Through
3.95%, 08/16/2025		4,235		4,333	Trust
4.13%, 11/16/2028		8,045		8,275	3.75%, 03/03/2028		2,015		1,974
4.45%, 11/16/2038		1,455		1,462	United Airlines 2016-1 Class AA Pass Through
4.63%, 11/16/2048		1,105		1,136	Trust
5.40%, 05/01/2035		585		637	3.10%, 01/07/2030		866		823
		$		35,752	United Airlines 2018-1 Class A Pass Through
Agriculture - 1.00%					Trust
Altria Group Inc					3.70%, 09/01/2031		2,275		2,192
4.00%, 01/31/2024		165		166	United Airlines 2018-1 Class AA Pass Through
4.50%, 05/02/2043		2,070		1,746	Trust
5.38%, 01/31/2044		515		486	3.50%, 09/01/2031		2,280		2,209

See accompanying notes.

4

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)		Value (000’s)		BONDS (continued)	Amount (000’s)			Value (000’s)
Airlines (continued)					Automobile Asset Backed Securities (continued)
US Airways 2001-1G Pass Through Trust					GM Financial Automobile Leasing Trust 2017-3
7.08%, 09/20/2022	$	67	$	70	2.75%, 01/21/2020	$	4,097	$	4,098
US Airways 2013-1 Class A Pass Through Trust					1.00 x 1 Month USD LIBOR + 0.24%
3.95%, 05/15/2027		1,038		1,035	GM Financial Automobile Leasing Trust 2018-2
		$		26,884	2.73%, 07/20/2020		4,685		4,684
Apparel - 0.00%					1.00 x 1 Month USD LIBOR + 0.22%
Hanesbrands Inc					GM Financial Consumer Automobile Receivables
4.88%, 05/15/2026(h)		35		34	Trust 2018-2
Under Armour Inc					3.31%, 12/18/2023		2,250		2,249
3.25%, 06/15/2026		15		13	Hertz Fleet Lease Funding LP
		$		47	2.89%, 05/10/2032(h)		5,500		5,500
Automobile Asset Backed Securities - 5.34%					1.00 x 1 Month USD LIBOR + 0.50%
AmeriCredit Automobile Receivables 2015-4					3.04%, 04/10/2031(h)		7,202		7,213
2.11%, 01/08/2021		844		842	1.00 x 1 Month USD LIBOR + 0.65%
2.88%, 07/08/2021		1,950		1,947	Hyundai Auto Lease Securitization Trust 2017-C
AmeriCredit Automobile Receivables 2016-1					2.68%, 03/16/2020(h)		4,108		4,108
2.89%, 01/10/2022		5,700		5,692	1.00 x 1 Month USD LIBOR + 0.17%
Americredit Automobile Receivables Trust 2016-4					Nissan Auto Lease Trust 2017-A
2.41%, 07/08/2022		7,000		6,921	2.71%, 09/16/2019		730		730
AmeriCredit Automobile Receivables Trust					1.00 x 1 Month USD LIBOR + 0.20%
2017-1					Santander Drive Auto Receivables Trust 2016-2
2.71%, 08/18/2022		3,000		2,976	2.66%, 11/15/2021		3,500		3,494
AmeriCredit Automobile Receivables Trust					Santander Drive Auto Receivables Trust 2017-1
2017-4					2.58%, 05/16/2022		5,000		4,977
2.69%, 05/18/2021		3,645		3,643	Santander Drive Auto Receivables Trust 2018-2
1.00 x 1 Month USD LIBOR + 0.18%					2.76%, 10/15/2020		2,684		2,684
Americredit Automobile Receivables Trust 2018-2					1.00 x 1 Month USD LIBOR + 0.25%
2.86%, 11/18/2021		7,670		7,660	3.35%, 07/17/2023		2,000		2,004
Capital Auto Receivables Asset Trust 2018-2					Santander Drive Auto Receivables Trust 2018-3
3.02%, 02/22/2021(h)		1,325		1,325	2.78%, 03/15/2021		9,723		9,723
CarMax Auto Owner Trust					1.00 x 1 Month USD LIBOR + 0.27%
2.71%, 10/15/2021		8,000		7,996	Santander Drive Auto Receivables Trust 2018-5
1.00 x 1 Month USD LIBOR + 0.20%					2.74%, 07/15/2021		17,100		17,101
CarMax Auto Owner Trust 2017-1					1.00 x 1 Month USD LIBOR + 0.23%
1.98%, 11/15/2021		173		172	Santander Retail Auto Lease Trust 2017-A
Carmax Auto Owner Trust 2018-4					2.68%, 01/20/2022(h)		2,625		2,608
2.71%, 02/15/2022		5,100		5,096	2.78%, 03/20/2020(h)		4,225		4,225
1.00 x 1 Month USD LIBOR + 0.20%					1.00 x 1 Month USD LIBOR + 0.27%
Chesapeake Funding II LLC					Tesla Auto Lease Trust 2018-A
3.66%, 03/15/2028(h)		1,730		1,734	2.97%, 04/20/2020(h)		500		499
1.00 x 1 Month USD LIBOR + 1.15%					3.30%, 05/20/2020(h)		563		562
Drive Auto Receivables Trust					Tesla Auto Lease Trust 2018-B
3.00%, 11/15/2021		1,955		1,954	3.71%, 08/20/2021(h)		2,426		2,442
Drive Auto Receivables Trust 2017-2					4.12%, 10/20/2021(h)		3,000		3,017
2.25%, 06/15/2021		340		339	World Omni Auto Receivables Trust 2019-A
Drive Auto Receivables Trust 2017-3					3.02%, 04/15/2022		7,000		7,006
2.30%, 05/17/2021		902		901			$		166,117
Drive Auto Receivables Trust 2018-2					Automobile Floor Plan Asset Backed Securities - 0.73%
2.83%, 09/15/2020		906		906	Ford Credit Floorplan Master Owner Trust A
Drive Auto Receivables Trust 2018-5					3.08%, 01/15/2022		5,400		5,413
2.83%, 07/15/2021		9,500		9,492	1.00 x 1 Month USD LIBOR + 0.57%
1.00 x 1 Month USD LIBOR + 0.32%					GMF Floorplan Owner Revolving Trust
Drive Auto Receivables Trust 2019-1					1.96%, 05/17/2021(h)		250		249
2.90%, 09/15/2021		5,000		5,000	2.83%, 09/15/2022(h)		17,000		17,002
1.00 x 1 Month USD LIBOR + 0.39%					1.00 x 1 Month USD LIBOR + 0.32%
Enterprise Fleet Financing LLC							$		22,664
2.13%, 05/22/2023(h)		1,488		1,476	Automobile Manufacturers - 0.83%
Ford Credit Auto Owner Trust 2016-A					BCD Acquisition Inc
1.39%, 07/15/2020		233		233	9.63%, 09/15/2023(h)		90		95
Ford Credit Auto Owner Trust 2017-REV2					Daimler Finance North America LLC
2.36%, 03/15/2029(h)		500		487	2.25%, 03/02/2020(h)		2,940		2,913
GM Financial Automobile Leasing Trust 2016-3					2.70%, 08/03/2020(h)		5,470		5,436
1.97%, 05/20/2020		2,100		2,094	2.85%, 01/06/2022(h)		2,175		2,137
2.38%, 05/20/2020		1,250		1,247	Ford Motor Credit Co LLC
GM Financial Automobile Leasing Trust 2017-1					2.60%, 11/04/2019		1,275		1,268
2.48%, 08/20/2020		3,500		3,476	3.34%, 03/28/2022		1,725		1,632
2.74%, 08/20/2020		3,600		3,584

See accompanying notes.

5

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)		Value (000’s)		BONDS (continued)	Amount (000’s)		Value (000’s)
Automobile Manufacturers (continued)					Banks (continued)
General Motors Co					CIT Group Inc
6.25%, 10/02/2043	$	1,020	$	991	4.13%, 03/09/2021	$	385	$	386
6.60%, 04/01/2036		1,820		1,847	5.25%, 03/07/2025		185		191
General Motors Financial Co Inc					5.80%, 12/31/2049(g),(l)		605		578
3.79%, 01/05/2023		5,485		5,200	3 Month USD LIBOR + 3.97%
3 Month USD LIBOR + 0.99%					6.13%, 03/09/2028		955		1,012
3.85%, 01/05/2028		1,055		941	Citigroup Inc
3.95%, 04/13/2024		150		144	1.50%, 07/24/2026(l)	EUR	500		574
Jaguar Land Rover Automotive PLC					3 Month Euro Interbank Offered Rate +
4.50%, 10/01/2027(h)		735		544	1.07%
Mclaren Finance PLC					3.52%, 10/27/2028(l)	$	7,215		6,963
5.75%, 08/01/2022(h)		385		356	3 Month USD LIBOR + 1.15%
Navistar International Corp					4.13%, 07/25/2028		5,355		5,309
6.63%, 11/01/2025(h)		1,913		1,913	4.65%, 07/23/2048		1,885		1,960
Tesla Inc					4.75%, 05/18/2046		1,695		1,698
5.30%, 08/15/2025(h)		200		178	Cooperatieve Rabobank UA
Toyota Motor Credit Corp					4.63%, 05/23/2029	GBP	250		362
2.95%, 04/13/2021		150		150	4.75%, 01/15/2020(h)	$	5,966		6,074
		$		25,745	5.50%, 12/31/2049(g),(l)	EUR	425		508
Automobile Parts & Equipment - 0.14%					EUR Swap Annual (VS 6 Month) 5 Year
American Axle & Manufacturing Inc					+ 5.25%
6.25%, 04/01/2025		2,125		2,067	Credit Suisse AG
Dana Inc					5.75%, 09/18/2025(l)		450		553
5.50%, 12/15/2024		850		833	EUR Swap Annual (VS 6 Month) 5 Year
Goodyear Tire & Rubber Co/The					+ 4.00%
5.13%, 11/15/2023		135		135	Credit Suisse Group AG
IHO Verwaltungs GmbH					2.13%, 09/12/2025(l)	GBP	150		189
4.75%, PIK 5.50%, 09/15/2026(h),(j),(k)		5		4	GBP Swap SA (VS 6 Month) 1 Year +
Schaeffler Finance BV					1.23%
4.75%, 05/15/2023(h)		845		837	DBS Group Holdings Ltd
Titan International Inc					4.52%, 12/11/2028(h),(l)	$	4,155		4,252
6.50%, 11/30/2023		60		55	USD Swap Rate NY 5 Year + 1.59%
Weichai International Hong Kong Energy Group					Deutsche Bank AG
Co Ltd					4.50%, 04/01/2025		400		369
3.75%, 12/31/2049(g),(l)		390		363	Discover Bank
US Treasury Yield Curve Rate T Note					3.10%, 06/04/2020		450		449
Constant Maturity 5 Year + 6.08%					First Republic Bank/CA
		$		4,294	4.38%, 08/01/2046		950		901
Banks - 6.81%					4.63%, 02/13/2047		5,100		5,030
AKCB Finance Ltd					Goldman Sachs Group Inc/The
4.75%, 10/09/2023		450		456	1.38%, 05/15/2024	EUR	500		573
Banco Bilbao Vizcaya Argentaria SA					2.91%, 06/05/2023(l)	$	140		137
3.50%, 04/11/2024(l)	EUR	200		230	3 Month USD LIBOR + 1.05%
EUR Swap Annual (VS 6 Month) 5 Year					3.85%, 01/26/2027		11,123		10,975
+ 2.55%					4.25%, 01/29/2026	GBP	200		285
Banco General SA					5.38%, 12/31/2049(g),(l)	$	7,270		7,288
4.13%, 08/07/2027(h)	$	1,550		1,466	3 Month USD LIBOR + 3.92%
Banco Santander SA					5.95%, 01/15/2027		1,620		1,786
2.50%, 03/18/2025	EUR	100		117	6.75%, 10/01/2037		3,470		4,226
6.25%, 12/31/2049(g),(l)		600		673	HBOS PLC
EUR Swap Annual (VS 6 Month) 5 Year					4.50%, 03/18/2030(l)	EUR	500		612
+ 5.41%					3 Month Euro Interbank Offered Rate +
Bank of America Corp					1.37%
3.50%, 05/17/2022(l)	$	1,300		1,310	HSBC Holdings PLC
3 Month USD LIBOR + 0.63%					4.25%, 03/14/2024	$	400		406
4.20%, 08/26/2024		9,460		9,684	Industrial & Commercial Bank of China Ltd
4.25%, 10/22/2026		5,646		5,708	4.88%, 09/21/2025		200		207
Barclays PLC					ING Groep NV
3.25%, 01/17/2033	GBP	150		181	6.00%, 12/31/2049(g),(l)		625		624
4.84%, 05/09/2028	$	910		874	USD Swap Semi-Annual 5 Year + 4.45%
7.75%, 12/31/2049(g),(l)		380		379	Intesa Sanpaolo SpA
USD Swap Semi-Annual 5 Year + 4.84%					3.93%, 09/15/2026	EUR	300		349
BDO Unibank Inc					JPMorgan Chase & Co
2.95%, 03/06/2023		415		400	4.35%, 08/15/2021	$	685		706
BPCE SA					4.45%, 12/05/2029(l)		1,985		2,079
2.50%, 07/15/2019		5,495		5,479	3 Month USD LIBOR + 1.33%
5.25%, 04/16/2029	GBP	200		304	4.62%, 12/31/2049(g),(l)		825		761
					3 Month USD LIBOR + 2.58%

See accompanying notes.

6

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)		Value (000’s)		BONDS (continued)	Amount (000’s)		Value (000’s)
Banks (continued)					Banks (continued)
JPMorgan Chase & Co   (continued)					UBS AG
4.95%, 06/01/2045	$	2,665	$	2,856	4.75%, 02/12/2026(l)	EUR	250	$	305
5.00%, 12/31/2049(g),(l)		40		40	EUR Swap Annual (VS 6 Month) 5 Year
3 Month USD LIBOR + 3.32%					+ 3.40%
5.50%, 10/15/2040		2,995		3,450	UBS AG/London
JPMorgan Chase Bank NA					4.50%, 06/26/2048(h)	$	1,450		1,556
2.60%, 02/01/2021(l)		4,005		3,988	UBS AG/Stamford CT
3 Month USD LIBOR + 0.28%					2.35%, 03/26/2020		5,135		5,111
KeyBank NA/Cleveland OH					UBS Group Funding Switzerland AG
3.30%, 02/01/2022(i)		2,250		2,262	5.75%, 12/31/2049(g),(l)	EUR	675		836
Lloyds Banking Group PLC					EUR Swap Annual (VS 6 Month) 5 Year
7.00%, 12/31/2049(g),(l)	GBP	200		264	+ 5.29%
GBP Swap SA (VS 6 Month) 5 Year +					6.87%, 12/31/2049(g),(l)	$	4,365		4,480
5.06%					USD Swap Rate NY 5 Year + 5.50%
Morgan Stanley					6.88%, 12/31/2049(g),(l)		2,675		2,679
4.43%, 01/23/2030(l)	$	2,380		2,473	USD Swap Semi-Annual 5 Year + 4.59%
3 Month USD LIBOR + 1.63%					US Bancorp
5.00%, 11/24/2025		3,395		3,587	3.38%, 02/05/2024(i)		4,765		4,804
5.55%, 12/31/2049(g),(l)		1,651		1,659	Wells Fargo & Co
3 Month USD LIBOR + 3.81%					3.75%, 01/24/2024		5,410		5,504
5.75%, 01/25/2021		3,035		3,186	4.15%, 01/24/2029		4,455		4,575
6.38%, 07/24/2042		1,790		2,290	4.40%, 06/14/2046		1,565		1,529
Popular Inc					6.56%, 12/31/2049(g)		715		719
6.13%, 09/14/2023		850		872	3 Month USD LIBOR + 3.77%
Royal Bank of Canada					Zions Bancorp NA
3.70%, 10/05/2023		5,945		6,047	3.50%, 08/27/2021		5,982		5,992
Royal Bank of Scotland Group PLC							$		211,801
3.63%, 03/25/2024(l)	EUR	700		802	Beverages - 1.04%
EUR Swap Annual (VS 6 Month) 5 Year					Anheuser-Busch Cos LLC / Anheuser-Busch
+ 2.65%					InBev Worldwide Inc
5.13%, 05/28/2024	$	9,424		9,465	4.90%, 02/01/2046(h)		7,955		7,586
7.50%, 12/31/2049(g),(l)		6,291		6,433	Anheuser-Busch InBev Finance Inc
USD Swap Semi-Annual 5 Year + 5.80%					2.65%, 02/01/2021		2,393		2,383
Santander UK Group Holdings PLC					Anheuser-Busch InBev SA/NV
7.38%, 12/31/2049(g),(l)	GBP	200		270	2.75%, 03/17/2036	EUR	500		591
GBP Swap SA (VS 6 Month) 5 Year +					2.85%, 05/25/2037	GBP	200		241
5.54%					Anheuser-Busch InBev Worldwide Inc
Santander UK PLC					3.54%, 01/12/2024	$	110		107
5.00%, 11/07/2023(h)	$	5,235		5,269	3 Month USD LIBOR + 0.74%
Skandinaviska Enskilda Banken AB					4.38%, 04/15/2038		1,605		1,467
2.50%, 05/28/2026(l)	EUR	250		296	4.75%, 01/23/2029		3,125		3,243
EUR Swap Annual (VS 6 Month) 5 Year					4.75%, 04/15/2058		800		712
+ 1.45%					5.45%, 01/23/2039		2,360		2,466
2.63%, 03/15/2021	$	250		247	5.55%, 01/23/2049		3,070		3,206
5.75%, 12/31/2049(g),(l)		7,197		7,170	Bacardi Ltd
USD Swap Semi-Annual 5 Year + 3.85%					4.70%, 05/15/2028(h)		1,505		1,460
State Street Corp					Central American Bottling Corp
4.14%, 12/03/2029(l)		3,875		4,101	5.75%, 01/31/2027		75		75
3 Month USD LIBOR + 1.03%					Constellation Brands Inc
SunTrust Bank/Atlanta GA					3.88%, 11/15/2019		320		322
4.05%, 11/03/2025		1,835		1,883	4.40%, 11/15/2025		3,795		3,911
Svenska Handelsbanken AB					5.25%, 11/15/2048		1,085		1,134
3.90%, 11/20/2023		3,875		3,967	Corp Lindley SA
Synchrony Bank					6.75%, 11/23/2021(h)		14		15
3.00%, 06/15/2022		4,525		4,326	6.75%, 11/23/2021		14		15
Toronto-Dominion Bank/The					Diageo Capital PLC
4.86%, 03/04/2031(l)	CAD	275		226	3.50%, 09/18/2023		1,775		1,806
Canada Bankers Acceptances 3 Month +					Keurig Dr Pepper Inc
3.49%					3.55%, 05/25/2021(h)		1,385		1,391
Turkiye Halk Bankasi AS					Molson Coors Brewing Co
3.88%, 02/05/2020	$	280		269	1.25%, 07/15/2024	EUR	175		198
Turkiye Is Bankasi AS							$		32,329
5.50%, 04/21/2022		200		188	Biotechnology - 0.17%
Turkiye Vakiflar Bankasi TAO					Amgen Inc
5.50%, 10/27/2021		200		192	2.20%, 05/11/2020	$	3,780		3,746
					Celgene Corp
					5.00%, 08/15/2045		1,430		1,442
					5.25%, 08/15/2043		115		117

See accompanying notes.

7

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal						Principal
BONDS (continued)	Amount (000’s)		Value (000’s)		BONDS (continued)	Amount (000’s)				Value (000’s)
Biotechnology (continued)					Chemicals (continued)
Gilead Sciences Inc					SASOL Financing USA LLC
1.85%, 09/20/2019	$	65	$	65	5.88%, 03/27/2024		$	500	$	516
2.50%, 09/01/2023		30		29	Starfruit Finco BV / Starfruit US Holdco LLC
		$		5,399	8.00%, 10/01/2026(h)			920		918
Building Materials - 0.11%					Syngenta Finance NV
BMC East LLC					5.18%, 04/24/2028(h)			2,200		2,095
5.50%, 10/01/2024(h)		545		520				$		23,317
CEMEX Finance LLC					Coal - 0.03%
6.00%, 04/01/2024		435		443	Alliance Resource Operating Partners LP /
Cemex SAB de CV					Alliance Resource Finance Corp
5.70%, 01/11/2025		500		506	7.50%, 05/01/2025(h)			945		982
Johnson Controls International plc					Commercial Mortgage Backed Securities - 5.19%
1.00%, 09/15/2023	EUR	400		457	BANK 2017-BNK5
Masco Corp					3.39%, 06/15/2060			2,350		2,334
3.50%, 04/01/2021	$	50		50	BANK 2017-BNK9
Owens Corning					4.03%, 11/15/2054(j)			2,000		1,997
7.00%, 12/01/2036		1,170		1,255	BENCHMARK 2018-B4
Standard Industries Inc/NJ					4.12%, 07/15/2051			1,250		1,308
6.00%, 10/15/2025(h)		150		151	BENCHMARK 2018-B6 Mortgage Trust
		$		3,382	4.62%, 10/10/2051(j)			2,250		2,367
Chemicals - 0.75%					4.62%, 10/10/2051(j)			2,000		2,022
Alpha 2 BV					Benchmark 2018-B8 Mortgage Trust
8.75%, PIK 9.50%, 06/01/2023(h),(j),(k)		465		450	4.53%, 01/15/2052(j)			2,000		2,113
Aruba Investments Inc					CFCRE Commercial Mortgage Trust 2011-C2
8.75%, 02/15/2023(h)		1,310		1,284	5.76%, 12/15/2047(h),(j)			1,125		1,187
Ashland LLC					Citigroup Commercial Mortgage Trust
4.75%, 08/15/2022		60		60	2015-GC29
Blue Cube Spinco LLC					4.14%, 04/10/2048(j)			2,000		1,984
9.75%, 10/15/2023		565		630	Citigroup Commercial Mortgage Trust
10.00%, 10/15/2025		495		565	2015-GC35
Braskem Finance Ltd					3.82%, 11/10/2048			1,000		1,030
6.45%, 02/03/2024		1,675		1,815	Citigroup Commercial Mortgage Trust
CF Industries Inc					2016-GC37
5.15%, 03/15/2034		1,380		1,270	3.58%, 04/10/2049			1,750		1,756
7.13%, 05/01/2020		243		251	Citigroup Commercial Mortgage Trust 2017-C4
CNAC HK Finbridge Co Ltd					1.12%, 10/12/2050(j),(m)			12,913		887
4.63%, 03/14/2023		350		357	COMM 2012-CCRE3 Mortgage Trust
Consolidated Energy Finance SA					4.75%, 10/15/2045(h),(j)			2,715		2,632
6.50%, 05/15/2026(h)		1,060		1,036	COMM 2012-CCRE5 Mortgage Trust
6.54%, 06/15/2022(h)		250		249	3.22%, 12/10/2045(h)			2,000		2,003
3 Month USD LIBOR + 3.75%					COMM 2013-CCRE11 Mortgage Trust
6.88%, 06/15/2025(h)		2,180		2,147	1.09%, 08/10/2050(j),(m)			52,083		1,961
Dow Chemical Co/The					4.72%, 08/10/2050(j)			5,000		5,280
5.55%, 11/30/2048(h)		595		629	COMM 2013-CCRE6 Mortgage Trust
DowDuPont Inc					4.08%, 03/10/2046(h),(j)			500		477
5.32%, 11/15/2038		2,105		2,269	COMM 2013-CCRE8 Mortgage Trust
5.42%, 11/15/2048		1,465		1,599	3.96%, 06/10/2046(h),(j)			3,000		3,062
Equate Petrochemical BV					COMM 2014-CCRE16 Mortgage Trust
3.00%, 03/03/2022(h)		925		903	4.05%, 04/10/2047			600		623
3.00%, 03/03/2022		375		366	COMM 2014-CCRE17 Mortgage Trust
Hexion Inc					4.74%, 05/10/2047(j)			2,400		2,408
6.63%, 04/15/2020		100		80	COMM 2014-LC17 Mortgage Trust
Israel Chemicals Ltd					4.49%, 10/10/2047(j)			5,000		5,148
6.38%, 05/31/2038(h)		100		103	COMM 2014-UBS5 Mortgage Trust
Mexichem SAB de CV					1.01%, 09/10/2047(j),(m)			67,893		2,220
5.88%, 09/17/2044		700		654	COMM 2015-CCRE22 Mortgage Trust
NOVA Chemicals Corp					4.12%, 03/10/2048(j)			1,611		1,578
5.25%, 08/01/2023(h)		385		374	COMM 2015-LC19 Mortgage Trust
5.25%, 06/01/2027(h)		870		794	3.83%, 02/10/2048(j)			1,075		1,075
Olin Corp					COMM 2015-LC23 Mortgage Trust
5.00%, 02/01/2030		320		295	3.77%, 10/10/2048			2,000		2,047
5.13%, 09/15/2027		40		39	COMM 2015-PC1 Mortgage Trust
Petkim Petrokimya Holding AS					4.29%, 07/10/2050(j)			2,000		2,057
5.88%, 01/26/2023		200		189	COMM 2018-COR3 Mortgage Trust
Platform Specialty Products Corp					4.23%, 05/10/2051			5,000		5,236
6.50%, 02/01/2022(h)		65		66	Credit Suisse Commercial Mortgage Trust Series
SABIC Capital II BV					2006-C5
4.00%, 10/10/2023(h)		1,300		1,314	1.08%, 12/15/2039(j),(m)			674		1

See accompanying notes.

8

Schedule of Investments
Core Plus Bond Fund
January 31, 2019 (unaudited)
	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Commercial Mortgage Backed Securities (continued)					Commercial Mortgage Backed Securities (continued)
CSAIL 2018-CX11 Commercial Mortgage Trust					Morgan Stanley Bank of America Merrill Lynch
4.03%, 04/15/2051(j)	$	1,000	$	1,033	Trust 2013-C11
DBUBS 2011-LC2 Mortgage Trust					0.40%, 08/15/2046(j),(m)	$	21,416	$	296
5.53%, 07/10/2044(h),(j)		5,000		5,150	Morgan Stanley Bank of America Merrill Lynch
GE Commercial Mortgage Corp Series 2007-C1					Trust 2013-C9
Trust					3.46%, 05/15/2046		1,781		1,785
5.61%, 12/10/2049(j)		2,341		2,107	Morgan Stanley Bank of America Merrill Lynch
GS Mortgage Securities Trust 2011-GC5					Trust 2014-C15
1.34%, 08/10/2044(h),(j),(m)		90,108		2,352	0.98%, 04/15/2047(j),(m)		45,023		1,826
GS Mortgage Securities Trust 2012-GCJ7					4.05%, 04/15/2047		3,000		3,111
2.21%, 05/10/2045(j),(m)		12,830		523	Morgan Stanley Bank of America Merrill Lynch
GS Mortgage Securities Trust 2013-GC16					Trust 2014-C16
1.04%, 11/10/2046(j),(m)		20,665		863	1.12%, 06/15/2047(j),(m)		23,741		895
5.31%, 11/10/2046(j)		800		852	4.75%, 06/15/2047(j)		4,250		4,131
GS Mortgage Securities Trust 2013-GCJ12					Morgan Stanley Bank of America Merrill Lynch
3.78%, 06/10/2046(j)		555		557	Trust 2014-C18
GS Mortgage Securities Trust 2014-GC26					4.44%, 10/15/2047(j)		3,864		3,972
1.01%, 11/10/2047(j),(m)		46,469		2,092	Morgan Stanley Bank of America Merrill Lynch
GS Mortgage Securities Trust 2015-GC34					Trust 2015-C20
3.51%, 10/10/2048		1,482		1,495	3.61%, 02/15/2048		2,000		2,019
GS Mortgage Securities Trust 2015-GS1					4.16%, 02/15/2048		1,975		1,995
3.73%, 11/10/2048		3,000		3,056	Morgan Stanley Bank of America Merrill Lynch
JP Morgan Chase Commercial Mortgage					Trust 2015-C26
Securities Trust 2010-C1					3.89%, 10/15/2048(j)		3,000		3,029
5.95%, 06/15/2043(h)		2,585		2,615	Morgan Stanley Bank of America Merrill Lynch
JP Morgan Chase Commercial Mortgage					Trust 2016-C30
Securities Trust 2011-C5					3.18%, 09/15/2049		1,571		1,520
5.37%, 08/15/2046(h),(j)		800		827	Morgan Stanley Capital I 2017-HR2
JP Morgan Chase Commercial Mortgage					3.59%, 12/15/2050		1,000		1,002
Securities Trust 2012-LC9					Morgan Stanley Capital I Trust 2016-UBS9
1.52%, 12/15/2047(j),(m)		13,612		576	3.59%, 03/15/2049		1,500		1,516
JP Morgan Chase Commercial Mortgage					MSBAM Commercial Mortgage Securities Trust
Securities Trust 2013-C16					2012-CKSV
0.95%, 12/15/2046(j),(m)		8,897		333	1.08%, 10/15/2030(h),(j),(m)		22,194		722
JP Morgan Chase Commercial Mortgage					UBS Commercial Mortgage Trust 2012-C1
Securities Trust 2016-JP4					3.40%, 05/10/2045		486		490
3.65%, 12/15/2049(j)		1,600		1,623	UBS-Barclays Commercial Mortgage Trust
JPMBB Commercial Mortgage Securities Trust					2012-C3
2013-C15					3.09%, 08/10/2049		1,210		1,210
1.09%, 11/15/2045(j),(m)		24,395		1,033	5.03%, 08/10/2049(h),(j)		1,500		1,536
JPMBB Commercial Mortgage Securities Trust					UBS-Barclays Commercial Mortgage Trust
2014-C18					2012-C4
4.82%, 02/15/2047(j)		1,000		1,043	1.64%, 12/10/2045(h),(j),(m)		20,107		972
4.82%, 02/15/2047(j)		2,700		2,759	3.32%, 12/10/2045(h)		2,300		2,300
JPMBB Commercial Mortgage Securities Trust					UBS-Barclays Commercial Mortgage Trust
2014-C19					2013-C5
1.12%, 04/15/2047(j),(m)		37,695		674	4.08%, 03/10/2046(h),(j)		1,090		1,003
JPMBB Commercial Mortgage Securities Trust					Wells Fargo Commercial Mortgage Trust
2014-C24					2015-NXS1
0.97%, 11/15/2047(j),(m)		8,783		309	3.66%, 05/15/2048(j)		2,665		2,640
3.89%, 11/15/2047(h),(j)		1,000		871	Wells Fargo Commercial Mortgage Trust
4.39%, 11/15/2047(j)		4,350		4,362	2015-NXS3
JPMBB Commercial Mortgage Securities Trust					4.49%, 09/15/2057(j)		1,400		1,446
2015-C28					Wells Fargo Commercial Mortgage Trust
3.99%, 10/15/2048		7,000		6,996	2016-C36
JPMBB Commercial Mortgage Securities Trust					3.07%, 11/15/2059		750		728
2015-C31					Wells Fargo Commercial Mortgage Trust
0.95%, 08/15/2048(j),(m)		41,438		1,850	2017-C38
JPMCC Commercial Mortgage Securities Trust					3.45%, 07/15/2050		3,000		2,976
2017-JP7					Wells Fargo Commercial Mortgage Trust
3.81%, 09/15/2050(j)		2,500		2,371	2018-C44
LB-UBS Commercial Mortgage Trust 2005-C3					4.21%, 05/15/2051		2,500		2,618
0.80%, 07/15/2040(h),(j),(m)		2,386		9	WFRBS Commercial Mortgage Trust 2013-C12
LB-UBS Commercial Mortgage Trust 2007-C1					1.27%, 03/15/2048(h),(j),(m)		44,962		1,870
0.37%, 02/15/2040(j),(m)		268		—	WFRBS Commercial Mortgage Trust 2014-C22
LB-UBS Commercial Mortgage Trust 2007-C6					4.07%, 09/15/2057(j)		5,000		5,149
6.11%, 07/15/2040(j)		162		161	4.37%, 09/15/2057(j)		2,000		2,049

See accompanying notes.

9

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Commercial Mortgage Backed Securities (continued)					Consumer Products (continued)
WFRBS Commercial Mortgage Trust 2014-C23					Reckitt Benckiser Treasury Services PLC
0.62%, 10/15/2057(j),(m)	$	51,794	$	1,355	3.38%, 06/24/2022(h)	$	240	$	237
		$		161,446	3 Month USD LIBOR + 0.56%
Commercial Services - 0.26%					Spectrum Brands Inc
ADT Security Corp/The					5.75%, 07/15/2025		820		808
6.25%, 10/15/2021		205		216	6.63%, 11/15/2022		375		384
Ahern Rentals Inc							$		2,733
7.38%, 05/15/2023(h)		1,550		1,348	Cosmetics & Personal Care - 0.00%
APX Group Inc					Avon International Operations Inc
7.63%, 09/01/2023		60		49	7.88%, 08/15/2022(h)		80		81
Avis Budget Car Rental LLC / Avis Budget					Credit Card Asset Backed Securities - 0.69%
Finance Inc					Capital One Multi-Asset Execution Trust
5.50%, 04/01/2023		45		45	2.96%, 02/15/2022		500		500
DP World Ltd					1.00 x 1 Month USD LIBOR + 0.45%
6.85%, 07/02/2037		540		631	3.02%, 09/16/2024		510		513
Garda World Security Corp					1.00 x 1 Month USD LIBOR + 0.51%
8.75%, 05/15/2025(h)		945		876	3.14%, 02/15/2024		1,900		1,910
Garda World Security Corp/Old					1.00 x 1 Month USD LIBOR + 0.63%
7.25%, 11/15/2021(h)		220		219	Chase Issuance Trust
Hertz Corp/The					1.58%, 08/15/2021		3,000		2,981
7.63%, 06/01/2022(h)		70		70	2.81%, 01/15/2022		4,500		4,504
Jaguar Holding Co II / Pharmaceutical Product					1.00 x 1 Month USD LIBOR + 0.30%
Development LLC					2.92%, 05/15/2021		2,100		2,102
6.38%, 08/01/2023(h)		65		65	1.00 x 1 Month USD LIBOR + 0.41%
Nielsen Finance LLC / Nielsen Finance Co					First National Master Note Trust 2018-1
5.00%, 04/15/2022(h)		155		155	2.97%, 10/15/2024		9,000		8,970
Prime Security Services Borrower LLC / Prime					1.00 x 1 Month USD LIBOR + 0.46%
Finance Inc							$		21,480
9.25%, 05/15/2023(h)		93		98	Distribution & Wholesale - 0.21%
Refinitiv US Holdings Inc					American Builders & Contractors Supply Co Inc
8.25%, 11/15/2026(h)		560		525	5.75%, 12/15/2023(h)		885		909
Service Corp International/US					5.88%, 05/15/2026(h)		470		471
5.38%, 05/15/2024		205		209	Ferguson Finance PLC
8.00%, 11/15/2021		225		245	4.50%, 10/24/2028(h)		3,360		3,324
TMS International Corp					Global Partners LP / GLP Finance Corp
7.25%, 08/15/2025(h)		1,105		1,039	7.00%, 06/15/2023		655		639
United Rentals North America Inc					H&E Equipment Services Inc
4.63%, 10/15/2025		910		873	5.63%, 09/01/2025		1,260		1,232
4.88%, 01/15/2028		310		294			$		6,575
5.88%, 09/15/2026		700		710	Diversified Financial Services - 1.28%
6.50%, 12/15/2026		340		353	AerCap Ireland Capital DAC / AerCap Global
		$		8,020	Aviation Trust
Computers - 1.11%					4.63%, 10/30/2020		265		268
Apple Inc					Aircastle Ltd
0.88%, 05/24/2025	EUR	420		491	5.13%, 03/15/2021		220		226
2.75%, 01/13/2025	$	2,275		2,243	Ally Financial Inc
2.85%, 05/11/2024		5,745		5,722	4.25%, 04/15/2021		230		231
3.00%, 02/09/2024		4,950		4,975	5.75%, 11/20/2025		2,480		2,598
3.05%, 07/31/2029	GBP	125		176	8.00%, 11/01/2031		220		264
3.35%, 02/09/2027	$	9,115		9,145	Avation Capital SA
4.25%, 02/09/2047		65		66	6.50%, 05/15/2021(h)		200		199
4.65%, 02/23/2046		1,390		1,524	Blackstone Holdings Finance Co LLC
Dell International LLC / EMC Corp					2.00%, 05/19/2025	EUR	250		294
3.48%, 06/01/2019(h)		105		105	Brookfield Finance Inc
5.88%, 06/15/2021(h)		365		371	3.90%, 01/25/2028	$	2,895		2,733
7.13%, 06/15/2024(h)		3,839		4,050	4.70%, 09/20/2047		4,870		4,496
8.35%, 07/15/2046(h)		4,600		5,419	4.85%, 03/29/2029		1,110		1,106
EMC Corp					Brookfield Finance LLC
2.65%, 06/01/2020		155		153	4.00%, 04/01/2024		8,468		8,416
West Corp					Credit Acceptance Corp
8.50%, 10/15/2025(h)		80		67	6.13%, 02/15/2021		950		952
Western Digital Corp					7.38%, 03/15/2023		1,505		1,545
4.75%, 02/15/2026		100		93	Credito Real SAB de CV SOFOM ER
		$		34,600	7.25%, 07/20/2023		250		246
Consumer Products - 0.09%					Curo Group Holdings Corp
Prestige Brands Inc					8.25%, 09/01/2025(h)		130		110
6.38%, 03/01/2024(h)		1,310		1,304

See accompanying notes.

10

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Diversified Financial Services (continued)					Electric (continued)
Doric Nimrod Air Finance Alpha Ltd 2012-1					Electricite de France SA
Class B Pass Through Trust					2.35%, 10/13/2020(h)	$	155	$	153
6.50%, 05/30/2021(h)	$	179	$	181	5.63%, 12/31/2049(g),(h),(l)		2,940		2,800
E*TRADE Financial Corp					USD Swap Semi-Annual 10 Year + 3.04%
5.30%, 12/31/2049(g),(l)		1,940		1,762	6.00%, 12/29/2049(g),(l)	GBP	100		132
3 Month USD LIBOR + 3.16%					GBP Swap SA (VS 6 Month) 13 Year +
GE Capital International Funding Co Unlimited					3.96%
Co					Elwood Energy LLC
2.34%, 11/15/2020		200		195	8.16%, 07/05/2026	$	490		529
4.42%, 11/15/2035		2,045		1,825	Enel Chile SA
GE Capital UK Funding Unlimited Co					4.88%, 06/12/2028		960		985
4.13%, 09/13/2023	GBP	120		163	Enel SpA
ILFC E-Capital Trust I					6.62%, 09/15/2076(l)	GBP	100		139
4.55%, 12/21/2065(h),(j)	$	400		304	GBP Swap SA (VS 6 Month) 5 Year +
ILFC E-Capital Trust II					4.09%
4.80%, 12/21/2065(h),(j)		355		272	Exelon Corp
Lions Gate Capital Holdings LLC					3.50%, 06/01/2022	$	1,740		1,727
5.88%, 11/01/2024(h)		1,000		983	5.10%, 06/15/2045		60		63
6.38%, 02/01/2024(h),(i)		745		752	Florida Power & Light Co
National Rural Utilities Cooperative Finance Corp					3.95%, 03/01/2048		1,735		1,738
2.40%, 04/25/2022		145		142	4.13%, 06/01/2048		1,140		1,156
4.75%, 04/30/2043(l)		855		822	Fortis Inc/Canada
3 Month USD LIBOR + 2.91%					2.10%, 10/04/2021		100		96
Navient Corp					3.06%, 10/04/2026		2,435		2,267
6.13%, 03/25/2024		1,395		1,335	Georgia Power Co
6.63%, 07/26/2021		395		406	4.30%, 03/15/2042		1,355		1,264
6.75%, 06/15/2026		1,110		1,046	4.30%, 03/15/2043		1,080		997
8.00%, 03/25/2020		210		219	Indiantown Cogeneration LP
Nuveen LLC					9.77%, 12/15/2020		266		281
4.00%, 11/01/2028(h)		3,550		3,705	Mexico Generadora de Energia S de rl
Quicken Loans Inc					5.50%, 12/06/2032		336		327
5.75%, 05/01/2025(h)		120		116	MidAmerican Energy Co
Springleaf Finance Corp					4.25%, 07/15/2049		550		565
5.25%, 12/15/2019		405		408	NRG Energy Inc
6.88%, 03/15/2025		1,015		971	6.25%, 05/01/2024		1,145		1,185
8.25%, 12/15/2020		145		155	6.63%, 01/15/2027		260		274
Vantiv LLC / Vantiv Issuer Corp					7.25%, 05/15/2026		620		670
4.38%, 11/15/2025(h)		235		226	Oncor Electric Delivery Co LLC
		$		39,672	2.15%, 06/01/2019		190		190
Electric - 2.04%					5.25%, 09/30/2040		40		46
Abu Dhabi National Energy Co PJSC					PacifiCorp
4.38%, 06/22/2026(h)		675		684	3.85%, 06/15/2021		50		51
Alabama Power Co					Pampa Energia SA
3.85%, 12/01/2042		30		28	7.38%, 07/21/2023		250		237
Calpine Corp					PPL Electric Utilities Corp
5.75%, 01/15/2025		95		90	3.95%, 06/01/2047		40		39
Clearway Energy Operating LLC					4.75%, 07/15/2043		1,375		1,495
5.75%, 10/15/2025(h)		675		624	PPL WEM Ltd / Western Power Distribution Ltd
CMS Energy Corp					5.38%, 05/01/2021(h)		5,425		5,586
4.70%, 03/31/2043		910		911	Public Service Electric & Gas Co
4.88%, 03/01/2044		1,835		1,922	3.65%, 09/01/2042		20		19
Commonwealth Edison Co					Southern Co/The
3.80%, 10/01/2042		905		856	2.95%, 07/01/2023		1,010		992
Consolidated Edison Co of New York Inc					4.25%, 07/01/2036		60		57
4.00%, 12/01/2028		1,610		1,678	5.50%, 03/15/2057(l)		730		726
4.63%, 12/01/2054		1,940		1,941	3 Month USD LIBOR + 3.63%
4.65%, 12/01/2048		120		128	State Grid Overseas Investment 2016 Ltd
Dominion Energy Inc					3.50%, 05/04/2027		3,000		2,928
2.58%, 07/01/2020		10,740		10,646	Tucson Electric Power Co
3.90%, 10/01/2025		1,670		1,680	4.85%, 12/01/2048		710		748
4.25%, 06/01/2028		1,790		1,826	Virginia Electric & Power Co
DTE Energy Co					3.80%, 04/01/2028		1,875		1,893
6.38%, 04/15/2033		921		1,108	4.45%, 02/15/2044		60		61
Duke Energy Florida LLC					4.60%, 12/01/2048		1,020		1,068
3.80%, 07/15/2028		3,230		3,294	4.65%, 08/15/2043		70		73
Duke Energy Ohio Inc					Vistra Energy Corp
3.65%, 02/01/2029		375		379	7.38%, 11/01/2022		140		146
					8.13%, 01/30/2026(h)		200		216

See accompanying notes.

11

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Electric (continued)					Environmental Control - 0.11%
Vistra Operations Co LLC					Clean Harbors Inc
5.50%, 09/01/2026(h)	$	865	$	876	5.13%, 06/01/2021	$	320	$	317
5.63%, 02/15/2027(h),(i)		760		764	Covanta Holding Corp
Western Power Distribution West Midlands PLC					6.00%, 01/01/2027		125		120
5.75%, 04/16/2032	GBP	100		170	Hulk Finance Corp
		$		63,524	7.00%, 06/01/2026(h)		125		116
Electrical Components & Equipment - 0.01%					Waste Connections Inc
Energizer Holdings Inc					4.25%, 12/01/2028		2,770		2,863
5.50%, 06/15/2025(h)	$	15		14			$		3,416
6.38%, 07/15/2026(h)		334		325	Food - 1.24%
		$		339	Albertsons Cos LLC / Safeway Inc / New
Electronics - 0.02%					Albertsons LP / Albertson's LLC
Ingram Micro Inc					7.50%, 03/15/2026(h),(i)		1,210		1,213
5.45%, 12/15/2024		200		195	Cencosud SA
Sanmina Corp					4.38%, 07/17/2027(h)		345		314
4.38%, 06/01/2019(h)		155		155	General Mills Inc
Sensata Technologies BV					1.00%, 04/27/2023	EUR	500		579
5.00%, 10/01/2025(h)		145		145	4.55%, 04/17/2038	$	2,540		2,360
Tech Data Corp					4.70%, 04/17/2048		1,080		1,003
3.70%, 02/15/2022		80		79	Gruma SAB de CV
Tyco Electronics Group SA					4.88%, 12/01/2024(h)		1,175		1,196
7.13%, 10/01/2037		105		136	Ingles Markets Inc
		$		710	5.75%, 06/15/2023		1,340		1,353
Energy - Alternate Sources - 0.00%					JBS USA LUX SA / JBS USA Finance Inc
TerraForm Power Operating LLC					5.75%, 06/15/2025(h)		605		604
5.00%, 01/31/2028(h)		85		79	7.25%, 06/01/2021(h)		1,775		1,792
Engineering & Construction - 0.07%					Kraft Heinz Foods Co
Aeropuerto Internacional de Tocumen SA					2.80%, 07/02/2020		3,975		3,962
6.00%, 11/18/2048(h)		975		1,008	Lamb Weston Holdings Inc
Delhi International Airport Ltd					4.88%, 11/01/2026(h)		80		79
6.13%, 10/31/2026		200		196	McCormick & Co Inc/MD
Hongkong International Qingdao Co Ltd					3.15%, 08/15/2024		3,580		3,488
4.75%, 02/12/2020		400		397	3.40%, 08/15/2027		2,590		2,471
MasTec Inc					Nestle Holdings Inc
4.88%, 03/15/2023		120		120	3.35%, 09/24/2023(h)		5,590		5,705
Zhaohai Investment BVI Ltd					3.50%, 09/24/2025(h)		5,810		5,948
4.00%, 07/23/2020		415		401	New Albertsons LP
		$		2,122	7.45%, 08/01/2029		50		44
					Post Holdings Inc
Entertainment - 0.27%					5.00%, 08/15/2026(h)		1,705		1,612
AMC Entertainment Holdings Inc					5.75%, 03/01/2027(h)		15		15
5.75%, 06/15/2025		50		46	TreeHouse Foods Inc
Boyne USA Inc					4.88%, 03/15/2022		340		338
7.25%, 05/01/2025(h)		1,015		1,068	Want Want China Finance Ltd
Caesars Resort Collection LLC / CRC Finco Inc					2.88%, 04/27/2022		1,700		1,658
5.25%, 10/15/2025(h)		1,785		1,671	Wm Wrigley Jr Co
CCM Merger Inc					3.38%, 10/21/2020(h)		2,745		2,766
6.00%, 03/15/2022(h)		1,435		1,449			$		38,500
Cedar Fair LP / Canada's Wonderland Co /
Magnum Management Corp / Millennium Op					Forest Products & Paper - 0.14%
5.38%, 04/15/2027		40		40	Domtar Corp
Cinemark USA Inc					6.25%, 09/01/2042		1,550		1,469
4.88%, 06/01/2023		50		49	Fibria Overseas Finance Ltd
Eldorado Resorts Inc					5.50%, 01/17/2027		80		82
6.00%, 04/01/2025		10		10	International Paper Co
6.00%, 09/15/2026(h)		890		888	4.35%, 08/15/2048		2,150		1,904
7.00%, 08/01/2023		690		721	Suzano Austria GmbH
Enterprise Development Authority/The					6.00%, 01/15/2029(h)		875		916
12.00%, 07/15/2024(h)		1,130		1,065			$		4,371
International Game Technology PLC					Gas - 0.30%
6.25%, 01/15/2027(h)		200		203	AmeriGas Partners LP / AmeriGas Finance Corp
6.50%, 02/15/2025(h)		1,095		1,140	5.50%, 05/20/2025		95		93
Six Flags Entertainment Corp					Boston Gas Co
4.88%, 07/31/2024(h)		90		89	3.15%, 08/01/2027(h)		125		119
WMG Acquisition Corp					Dominion Energy Gas Holdings LLC
5.00%, 08/01/2023(h)		20		20	2.80%, 11/15/2020		3,640		3,618
5.50%, 04/15/2026(h)		25		25	NGL Energy Partners LP / NGL Energy Finance
		$		8,484	Corp
					7.50%, 11/01/2023		1,855		1,879

See accompanying notes.

12

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)		Value (000’s)		BONDS (continued)	Amount (000’s)			Value (000’s)
Gas (continued)					Healthcare - Services (continued)
Southern Co Gas Capital Corp					Tenet Healthcare Corp
4.40%, 05/30/2047	$	2,245	$	2,109	4.63%, 07/15/2024	$	1,125	$	1,102
Talent Yield Investments Ltd					6.00%, 10/01/2020		455		470
4.50%, 04/25/2022(h)		1,500		1,521	6.25%, 02/01/2027(h),(i)		605		609
		$		9,339	UnitedHealth Group Inc
Healthcare - Products - 0.94%					3.88%, 12/15/2028		4,685		4,872
Abbott Laboratories					WellCare Health Plans Inc
2.90%, 11/30/2021		2,875		2,873	5.25%, 04/01/2025		1,550		1,573
3.75%, 11/30/2026		1,840		1,878			$		19,791
4.75%, 11/30/2036		215		231	Holding Companies - Diversified - 0.01%
4.90%, 11/30/2046		1,495		1,664	China Merchants Finance Co Ltd
Agiliti Health Inc					4.75%, 08/03/2025		290		297
7.63%, 08/15/2020		1,970		1,970	Home Builders - 0.22%
Avantor Inc					Beazer Homes USA Inc
9.00%, 10/01/2025(h)		40		41	8.75%, 03/15/2022		65		68
Becton Dickinson and Co					Century Communities Inc
1.40%, 05/24/2023	EUR	600		693	5.88%, 07/15/2025		2,010		1,849
3.02%, 05/24/2025	GBP	200		264	KB Home
3.36%, 06/06/2024	$	2,065		2,024	4.75%, 05/15/2019		390		389
3.70%, 06/06/2027		3,265		3,184	7.00%, 12/15/2021		300		315
3.77%, 06/06/2022		2,235		2,199	Lennar Corp
3 Month USD LIBOR + 1.03%					4.50%, 04/30/2024		1,440		1,415
4.69%, 12/15/2044		930		919	4.75%, 11/15/2022		50		50
Covidien International Finance SA					8.38%, 01/15/2021		65		70
4.20%, 06/15/2020		5,710		5,811	LGI Homes Inc
DJO Finance LLC / DJO Finance Corp					6.88%, 07/15/2026(h)		690		664
8.13%, 06/15/2021(h)		775		805	PulteGroup Inc
Hill-Rom Holdings Inc					5.50%, 03/01/2026		90		90
5.75%, 09/01/2023(h)		610		627	Taylor Morrison Communities Inc / Taylor
Kinetic Concepts Inc / KCI USA Inc					Morrison Holdings II Inc
7.88%, 02/15/2021(h)		1,090		1,112	5.63%, 03/01/2024(h)		730		715
Mallinckrodt International Finance SA /					Toll Brothers Finance Corp
Mallinckrodt CB LLC					4.88%, 03/15/2027		60		58
5.75%, 08/01/2022(h)		95		86	TRI Pointe Group Inc
Medtronic Inc					4.88%, 07/01/2021		150		148
2.50%, 03/15/2020		35		35	TRI Pointe Group Inc / TRI Pointe Homes Inc
3.50%, 03/15/2025		240		245	5.88%, 06/15/2024		65		63
4.38%, 03/15/2035		990		1,043	Williams Scotsman International Inc
4.63%, 03/15/2045		1,355		1,480	7.88%, 12/15/2022(h)		985		995
Ortho-Clinical Diagnostics Inc / Ortho-Clinical							$		6,889
Diagnostics SA					Home Equity Asset Backed Securities - 0.04%
6.63%, 05/15/2022(h)		60		58	First NLC Trust 2005-1
		$		29,242	3.00%, 05/25/2035		235		217
Healthcare - Services - 0.64%					1.00 x 1 Month USD LIBOR + 0.50%
Acadia Healthcare Co Inc					JP Morgan Mortgage Acquisition Trust
5.63%, 02/15/2023		115		113	2006-CW2
AHP Health Partners Inc					2.66%, 08/25/2036		426		424
9.75%, 07/15/2026(h)		745		773	1.00 x 1 Month USD LIBOR + 0.15%
Centene Corp					Saxon Asset Securities Trust 2004-1
4.75%, 05/15/2022		300		305	3.26%, 03/25/2035		275		147
5.38%, 06/01/2026(h)		1,160		1,198	1.00 x 1 Month USD LIBOR + 1.70%
5.63%, 02/15/2021		450		457	Specialty Underwriting & Residential Finance
6.13%, 02/15/2024		655		686	Trust Series 2004-BC1
DaVita Inc					3.27%, 02/25/2035		303		302
5.13%, 07/15/2024		165		163	1.00 x 1 Month USD LIBOR + 0.77%
HCA Healthcare Inc							$		1,090
6.25%, 02/15/2021		575		599	Housewares - 0.01%
HCA Inc					Turkiye Sise ve Cam Fabrikalari AS
4.50%, 02/15/2027		160		161	4.25%, 05/09/2020		200		198
4.75%, 05/01/2023		2,100		2,158	Insurance - 2.20%
5.00%, 03/15/2024		1,085		1,129	Acrisure LLC / Acrisure Finance Inc
5.25%, 04/15/2025		115		122	8.13%, 02/15/2024(h)		290		295
5.25%, 06/15/2026		350		367	Aegon NV
5.50%, 06/15/2047		490		510	4.00%, 04/25/2044(l)	EUR	250		298
5.88%, 03/15/2022		10		11	3 Month Euro Interbank Offered Rate +
5.88%, 02/01/2029		455		477	3.35%
MPH Acquisition Holdings LLC
7.13%, 06/01/2024(h)		1,950		1,936

See accompanying notes.

13

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Insurance (continued)					Internet (continued)
AIA Group Ltd					Tencent Holdings Ltd
3.20%, 03/11/2025(h)	$	2,655	$	2,584	2.99%, 01/19/2023(h)	$	200	$	196
3.90%, 04/06/2028(h)		4,485		4,517	3.80%, 02/11/2025(h)		1,200		1,207
Allianz SE					Zayo Group LLC / Zayo Capital Inc
2.24%, 07/07/2045(l)	EUR	500		579	5.75%, 01/15/2027(h)		65		63
3 Month Euro Interbank Offered Rate +					6.00%, 04/01/2023		1,200		1,206
2.65%							$		5,227
American International Group Inc					Investment Companies - 0.01%
3.30%, 03/01/2021	$	2,140		2,155	Bright Galaxy International Ltd
3.90%, 04/01/2026		8,740		8,655	3.38%, 11/03/2021		420		399
4.50%, 07/16/2044		4,858		4,579	Iron & Steel - 0.14%
Arch Capital Finance LLC					AK Steel Corp
4.01%, 12/15/2026		2,845		2,896	6.38%, 10/15/2025		1,520		1,235
5.03%, 12/15/2046		1,205		1,279	7.50%, 07/15/2023		475		483
AssuredPartners Inc					7.63%, 10/01/2021		645		623
7.00%, 08/15/2025(h)		675		645	Allegheny Technologies Inc
Catlin Insurance Co Ltd					7.88%, 08/15/2023		65		69
5.74%, 07/29/2049(g),(h)		2,105		2,026	ArcelorMittal
3 Month USD LIBOR + 2.98%					5.50%, 03/01/2021		220		228
Chubb INA Holdings Inc					Big River Steel LLC / BRS Finance Corp
1.55%, 03/15/2028	EUR	650		749	7.25%, 09/01/2025(h)		95		100
CNO Financial Group Inc					Cleveland-Cliffs Inc
4.50%, 05/30/2020	$	310		311	4.88%, 01/15/2024(h)		50		48
5.25%, 05/30/2025		70		71	CSN Resources SA
Genworth Holdings Inc					6.50%, 07/21/2020		435		428
7.63%, 09/24/2021		120		121	United States Steel Corp
Liberty Mutual Group Inc					6.25%, 03/15/2026		75		68
5.69%, 03/07/2067(h)		2,255		2,142	Vale Overseas Ltd
3 Month USD LIBOR + 2.91%					6.88%, 11/21/2036		1,051		1,167
Manulife Financial Corp							$		4,449
3.05%, 08/20/2029(l)	CAD	325		244	Leisure Products & Services - 0.06%
Canada Bankers Acceptances 3 Month +					NCL Corp Ltd
1.05%					4.75%, 12/15/2021(h)		213		214
Markel Corp					Silversea Cruise Finance Ltd
3.50%, 11/01/2027	$	1,600		1,499	7.25%, 02/01/2025(h)		1,440		1,543
4.30%, 11/01/2047		1,265		1,114			$		1,757
5.00%, 04/05/2046		3,655		3,594
Nuveen Finance LLC					Lodging - 0.16%
4.13%, 11/01/2024(h)		7,085		7,307	Boyd Gaming Corp
Prudential Financial Inc					6.38%, 04/01/2026		60		61
5.63%, 06/15/2043(l)		4,260		4,412	Jack Ohio Finance LLC / Jack Ohio Finance 1
3 Month USD LIBOR + 3.92%					Corp
Voya Financial Inc					6.75%, 11/15/2021(h)		1,575		1,626
5.65%, 05/15/2053(l)		4,365		4,234	MGM Resorts International
3 Month USD LIBOR + 3.58%					6.63%, 12/15/2021		475		502
6.13%, 12/31/2049(g),(l)		250		248	Sands China Ltd
US Treasury Yield Curve Rate T Note					5.40%, 08/08/2028(h)		1,150		1,136
Constant Maturity 5 Year + 3.36%					Wyndham Destinations Inc
XLIT Ltd					5.75%, 04/01/2027		100		95
4.45%, 03/31/2025		7,000		7,148	Wynn Las Vegas LLC / Wynn Las Vegas Capital
5.24%, 12/31/2049(g)		590		562	Corp
3 Month USD LIBOR + 2.46%					5.25%, 05/15/2027(h)		1,000		935
5.50%, 03/31/2045		4,020		4,181	5.50%, 03/01/2025(h)		490		477
		$		68,445			$		4,832
Internet - 0.17%					Machinery - Diversified - 0.06%
Alibaba Group Holding Ltd					Cloud Crane LLC
3.13%, 11/28/2021		200		199	10.13%, 08/01/2024(h)		1,530		1,629
3.40%, 12/06/2027		475		453	CNH Industrial Capital LLC
Baidu Inc					4.88%, 04/01/2021		330		335
4.38%, 05/14/2024		375		382			$		1,964
Match Group Inc					Media - 2.96%
5.00%, 12/15/2027(h)		60		59	21st Century Fox America Inc
Netflix Inc					3.00%, 09/15/2022		1,845		1,844
4.38%, 11/15/2026		1,125		1,065	4.75%, 09/15/2044		15		16
5.38%, 02/01/2021		200		205	5.40%, 10/01/2043		1,555		1,815
5.88%, 11/15/2028(h)		135		137	6.15%, 02/15/2041		605		762
Symantec Corp					6.20%, 12/15/2034		840		1,042
5.00%, 04/15/2025(h)		55		55	6.40%, 12/15/2035		4,570		5,805

See accompanying notes.

14

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Media (continued)					Media (continued)
Altice Financing SA					Sirius XM Radio Inc
6.63%, 02/15/2023(h)	$	1,070	$	1,076	6.00%, 07/15/2024(h)	$	280	$	291
7.50%, 05/15/2026(h)		250		237	TEGNA Inc
Altice Finco SA					6.38%, 10/15/2023		140		142
8.13%, 01/15/2024(h)		520		512	Time Warner Cable LLC
Altice France SA/France					5.88%, 11/15/2040		1,780		1,760
8.13%, 02/01/2027(h)		690		678	8.75%, 02/14/2019		1,165		1,166
Altice Luxembourg SA					Univision Communications Inc
7.75%, 05/15/2022(h)		1,525		1,479	5.13%, 02/15/2025(h)		100		91
AMC Networks Inc					Viacom Inc
4.75%, 12/15/2022		120		120	4.25%, 09/01/2023		1,310		1,328
4.75%, 08/01/2025		970		937	4.38%, 03/15/2043		3,200		2,736
5.00%, 04/01/2024		645		640	Virgin Media Finance PLC
Cablevision SA					5.75%, 01/15/2025(h)		205		202
6.50%, 06/15/2021		225		220	Virgin Media Secured Finance PLC
Cablevision Systems Corp					5.25%, 01/15/2026(h)		380		374
5.88%, 09/15/2022		130		131	Warner Media LLC
CCO Holdings LLC / CCO Holdings Capital Corp					1.95%, 09/15/2023	EUR	250		297
5.13%, 05/01/2023(h)		4,225		4,282	2.10%, 06/01/2019	$	1,080		1,077
5.13%, 05/01/2027(h)		270		261	3.60%, 07/15/2025		1,755		1,729
5.25%, 09/30/2022		490		495	3.88%, 01/15/2026		2,515		2,480
Charter Communications Operating LLC / Charter					4.05%, 12/15/2023		3,670		3,763
Communications Operating Capital					5.38%, 10/15/2041		1,065		1,072
3.58%, 07/23/2020		3,445		3,454	Ziggo Bond Co BV
5.75%, 04/01/2048		1,475		1,470	6.00%, 01/15/2027(h)		1,125		1,036
6.48%, 10/23/2045		950		1,022	Ziggo BV
Clear Channel Worldwide Holdings Inc					5.50%, 01/15/2027(h)		950		898
6.50%, 11/15/2022		75		77			$		91,963
Comcast Corp					Metal Fabrication & Hardware - 0.02%
3.38%, 02/15/2025		6,605		6,629	Grinding Media Inc / Moly-Cop AltaSteel Ltd
3.95%, 10/15/2025		2,230		2,308	7.38%, 12/15/2023(h)		105		106
4.15%, 10/15/2028		4,560		4,722	Novelis Corp
4.20%, 08/15/2034		1,900		1,915	5.88%, 09/30/2026(h)		90		87
4.60%, 10/15/2038		4,455		4,605	Park-Ohio Industries Inc
4.60%, 08/15/2045		1,630		1,663	6.63%, 04/15/2027		480		467
4.70%, 10/15/2048		3,545		3,702			$		660
5.50%, 11/23/2029	GBP	125		210	Mining - 0.62%
CSC Holdings LLC					AngloGold Ashanti Holdings PLC
5.50%, 04/15/2027(h)	$	400		391	5.13%, 08/01/2022		365		372
6.50%, 02/01/2029(h)		1,206		1,222	BHP Billiton Finance USA Ltd
6.63%, 10/15/2025(h)		445		466	6.75%, 10/19/2075(h),(l)		1,835		1,989
7.75%, 07/15/2025(h)		325		340	USD Swap Semi-Annual 5 Year + 5.09%
8.63%, 02/15/2019		185		185	Constellium NV
10.13%, 01/15/2023(h)		1,250		1,350	5.88%, 02/15/2026(h)		435		416
Discovery Communications LLC					6.63%, 03/01/2025(h)		1,245		1,239
1.90%, 03/19/2027	EUR	500		564	Corp Nacional del Cobre de Chile
3.50%, 09/20/2019	$	125		125	5.63%, 09/21/2035(h)		100		111
3 Month USD LIBOR + 0.71%					First Quantum Minerals Ltd
DISH DBS Corp					7.00%, 02/15/2021		400		399
5.13%, 05/01/2020		795		797	7.50%, 04/01/2025(h)		1,290		1,202
5.88%, 07/15/2022		1,230		1,169	FMG Resources August 2006 Pty Ltd
5.88%, 11/15/2024		1,570		1,301	5.13%, 03/15/2023(h)		815		811
7.75%, 07/01/2026		1,125		968	5.13%, 05/15/2024(h)		105		104
Fox Corp					Freeport-McMoRan Inc
5.58%, 01/25/2049(h)		95		101	3.88%, 03/15/2023		280		268
Grupo Televisa SAB					Glencore Finance Canada Ltd
6.63%, 01/15/2040		80		88	5.55%, 10/25/2042(h)		3,002		2,891
Meredith Corp					Glencore Finance Europe Ltd
6.88%, 02/01/2026(h)		2,050		2,112	1.88%, 09/13/2023	EUR	170		197
NBCUniversal Media LLC					Glencore Funding LLC
5.15%, 04/30/2020		4,935		5,070	3.00%, 10/27/2022(h)	$	25		24
Nexstar Broadcasting Inc					Gold Fields Orogen Holdings BVI Ltd
5.63%, 08/01/2024(h)		55		53	4.88%, 10/07/2020		400		401
Radiate Holdco LLC / Radiate Finance Inc					IAMGOLD Corp
6.63%, 02/15/2025(h)		760		705	7.00%, 04/15/2025(h)		2,075		2,026
6.88%, 02/15/2023(h)		265		255	Indonesia Asahan Aluminium Persero PT
Sinclair Television Group Inc					6.53%, 11/15/2028(h)		300		329
5.38%, 04/01/2021		130		130

See accompanying notes.

15

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Mining (continued)					Mortgage Backed Securities (continued)
Newmont Mining Corp					Freddie Mac REMICS
5.13%, 10/01/2019	$	1,800	$	1,821	2.00%, 02/15/2036	$	531	$	514
Northwest Acquisitions ULC / Dominion Finco					3.00%, 09/15/2025(m)		1,499		41
Inc					3.00%, 05/15/2027(m)		3,478		234
7.13%, 11/01/2022(h)		40		40	3.00%, 10/15/2027(m)		766		65
Southern Copper Corp					3.00%, 02/15/2029(m)		4,906		368
6.75%, 04/16/2040		395		453	3.49%, 04/15/2046(m)		10,855		2,029
Taseko Mines Ltd					(1.00) x 1 Month USD LIBOR + 6.00%
8.75%, 06/15/2022(h)		1,330		1,180	3.50%, 02/15/2028(m)		2,915		232
Teck Resources Ltd					3.50%, 01/15/2040(m)		3,563		368
4.75%, 01/15/2022		140		142	3.50%, 03/15/2041(m)		4,856		611
5.40%, 02/01/2043		540		513	3.54%, 02/15/2046(m)		8,945		1,516
6.25%, 07/15/2041		845		881	(1.00) x 1 Month USD LIBOR + 6.05%
8.50%, 06/01/2024(h)		215		232	4.00%, 04/15/2025(m)		2,012		70
Vedanta Resources PLC					4.14%, 05/15/2026(m)		2,194		185
6.38%, 07/30/2022(h)		900		869	(1.00) x 1 Month USD LIBOR + 6.65%
Volcan Cia Minera SAA					4.24%, 09/15/2034(m)		322		15
5.38%, 02/02/2022		240		244	(1.00) x 1 Month USD LIBOR + 6.75%
		$		19,154	Freddie Mac Structured Agency Credit Risk Debt
Miscellaneous Manufacturers - 0.18%					Notes
General Electric Co					3.06%, 04/25/2030		5,900		5,895
1.25%, 05/26/2023	EUR	520		583	1.00 x 1 Month USD LIBOR + 0.55%
4.50%, 03/11/2044	$	1,080		930	3.31%, 03/25/2029		261		261
5.30%, 02/11/2021		644		660	1.00 x 1 Month USD LIBOR + 0.80%
5.55%, 01/05/2026		2,285		2,292	5.36%, 04/25/2028		3,302		3,386
6.88%, 01/10/2039		765		844	1.00 x 1 Month USD LIBOR + 2.85%
LSB Industries Inc					Ginnie Mae
9.63%, 05/01/2023(h)		50		51	1.75%, 10/16/2037		181		179
Siemens Financieringsmaatschappij NV					3.14%, 08/16/2045(m)		8,423		1,048
2.70%, 03/16/2022(h)		250		247	(1.00) x 1 Month USD LIBOR + 5.65%
		$		5,607	3.50%, 02/20/2040(m)		2,982		367
Mortgage Backed Securities - 4.00%					3.50%, 01/20/2043(m)		4,628		1,029
Fannie Mae Connecticut Avenue Securities					3.55%, 11/20/2040(m)		3,173		476
3.11%, 07/25/2030		10,381		10,360	(1.00) x 1 Month USD LIBOR + 6.05%
1.00 x 1 Month USD LIBOR + 0.60%					3.55%, 08/20/2042(m)		7,336		1,228
3.16%, 08/25/2030		3,377		3,375	(1.00) x 1 Month USD LIBOR + 6.05%
1.00 x 1 Month USD LIBOR + 0.65%					3.55%, 05/20/2046(m)		5,788		966
3.26%, 02/25/2030		2,253		2,253	(1.00) x 1 Month USD LIBOR + 6.05%
1.00 x 1 Month USD LIBOR + 0.75%					3.60%, 11/20/2041(m)		3,455		593
3.96%, 01/25/2029		2,403		2,412	(1.00) x 1 Month USD LIBOR + 6.10%
1.00 x 1 Month USD LIBOR + 1.45%					3.60%, 02/20/2046(m)		7,131		1,306
Fannie Mae REMIC Trust 2005-W2					(1.00) x 1 Month USD LIBOR + 6.10%
2.71%, 05/25/2035		201		200	3.60%, 06/20/2046(m)		9,473		1,722
1.00 x 1 Month USD LIBOR + 0.20%					(1.00) x 1 Month USD LIBOR + 6.10%
Fannie Mae REMICS					3.60%, 06/20/2046(m)		7,605		1,311
2.25%, 07/25/2040		113		111	(1.00) x 1 Month USD LIBOR + 6.10%
3.00%, 04/25/2027(m)		2,894		244	3.60%, 08/20/2046(m)		10,394		1,844
3.50%, 09/25/2027(m)		4,679		466	(1.00) x 1 Month USD LIBOR + 6.10%
3.50%, 11/25/2027(m)		1,227		109	3.60%, 09/20/2046(m)		8,210		1,529
3.50%, 05/25/2028(m)		1,746		145	(1.00) x 1 Month USD LIBOR + 6.10%
3.50%, 03/25/2031(m)		3,013		217	3.64%, 05/16/2047(m)		6,026		1,048
3.54%, 03/25/2047(m)		5,466		845	(1.00) x 1 Month USD LIBOR + 6.15%
(1.00) x 1 Month USD LIBOR + 6.05%					3.65%, 08/20/2044(m)		2,832		487
3.59%, 02/25/2043(m)		4,454		707	(1.00) x 1 Month USD LIBOR + 6.15%
(1.00) x 1 Month USD LIBOR + 6.10%					3.65%, 03/20/2047(m)		8,359		1,399
3.59%, 09/25/2046(m)		5,330		808	(1.00) x 1 Month USD LIBOR + 6.15%
(1.00) x 1 Month USD LIBOR + 6.10%					3.65%, 04/20/2047(m)		7,352		1,523
3.64%, 09/25/2047(m)		9,789		1,837	(1.00) x 1 Month USD LIBOR + 6.15%
(1.00) x 1 Month USD LIBOR + 6.15%					3.70%, 08/20/2042(m)		3,314		439
3.69%, 10/25/2048(m)		8,261		1,510	(1.00) x 1 Month USD LIBOR + 6.20%
(1.00) x 1 Month USD LIBOR + 6.20%					3.70%, 11/20/2045(m)		5,625		933
3.99%, 12/25/2021(m)		185		6	(1.00) x 1 Month USD LIBOR + 6.20%
(1.00) x 1 Month USD LIBOR + 6.50%					3.70%, 06/20/2047(m)		8,292		1,518
3.99%, 03/25/2022(m)		190		8	(1.00) x 1 Month USD LIBOR + 6.20%
(1.00) x 1 Month USD LIBOR + 6.50%					3.70%, 07/20/2047(m)		8,216		1,589
4.00%, 04/25/2043(m)		648		98	(1.00) x 1 Month USD LIBOR + 6.20%
14.90%, 08/25/2035(m)		4		—	3.70%, 07/20/2047(m)		6,570		1,121
(10.00) x 1 Month USD LIBOR + 40.00%					(1.00) x 1 Month USD LIBOR + 6.20%

See accompanying notes.

16

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Mortgage Backed Securities (continued)					Oil & Gas (continued)
Ginnie Mae   (continued)					Antero Resources Corp
3.70%, 08/20/2047(m)	$	4,185	$	749	5.13%, 12/01/2022	$	80	$	80
(1.00) x 1 Month USD LIBOR + 6.20%					Ascent Resources Utica Holdings LLC / ARU
3.70%, 08/20/2047(m)		12,035		2,232	Finance Corp
(1.00) x 1 Month USD LIBOR + 6.20%					7.00%, 11/01/2026(h)		205		198
3.70%, 08/20/2047(m)		6,452		1,370	10.00%, 04/01/2022(h)		1,321		1,412
(1.00) x 1 Month USD LIBOR + 6.20%					BP Capital Markets America Inc
3.70%, 08/20/2047(m)		3,407		688	3.02%, 01/16/2027		95		91
(1.00) x 1 Month USD LIBOR + 6.20%					Brazos Valley Longhorn LLC / Brazos Valley
3.70%, 09/20/2047(m)		9,224		1,704	Longhorn Finance Corp
(1.00) x 1 Month USD LIBOR + 6.20%					6.88%, 02/01/2025		1,005		1,017
3.70%, 09/20/2047(m)		9,012		1,478	Callon Petroleum Co
(1.00) x 1 Month USD LIBOR + 6.20%					6.38%, 07/01/2026		100		100
3.70%, 11/20/2047(m)		6,484		1,081	Canadian Natural Resources Ltd
(1.00) x 1 Month USD LIBOR + 6.20%					3.85%, 06/01/2027		3,730		3,655
3.74%, 08/16/2045(m)		5,280		963	3.90%, 02/01/2025		2,005		2,022
(1.00) x 1 Month USD LIBOR + 6.25%					4.95%, 06/01/2047		215		224
3.75%, 06/20/2044(m)		14,580		1,690	Carrizo Oil & Gas Inc
(1.00) x 1 Month USD LIBOR + 6.25%					6.25%, 04/15/2023		50		49
3.75%, 07/20/2045(m)		5,905		1,070	Chesapeake Energy Corp
(1.00) x 1 Month USD LIBOR + 6.25%					7.00%, 10/01/2024		1,440		1,406
3.75%, 10/20/2047(m)		6,357		1,201	8.00%, 01/15/2025		985		991
(1.00) x 1 Month USD LIBOR + 6.25%					8.00%, 06/15/2027		560		536
4.00%, 03/16/2039(m)		2,591		317	Chesapeake Oil Op/Fin Escrow Shares
4.00%, 09/20/2040(m)		2,612		409	0.00%, 11/15/2019(a),(b),(c)		1,385		—
4.14%, 04/16/2042(m)		3,528		710	Chevron Corp
(1.00) x 1 Month USD LIBOR + 6.65%					1.99%, 03/03/2020		515		511
4.15%, 12/20/2040(m)		4,898		941	CNOOC Finance 2013 Ltd
(1.00) x 1 Month USD LIBOR + 6.65%					3.00%, 05/09/2023		1,850		1,802
4.15%, 02/20/2042(m)		4,500		891	CNOOC Petroleum North America ULC
(1.00) x 1 Month USD LIBOR + 6.65%					5.88%, 03/10/2035		170		197
4.25%, 11/20/2045(m)		2,873		531	CNX Resources Corp
(1.00) x 1 Month USD LIBOR + 6.75%					5.88%, 04/15/2022		65		65
4.34%, 04/20/2041(m)		1,629		322	Comstock Resources Inc
(1.10) x 1 Month USD LIBOR + 7.10%					9.75%, 08/15/2026(h)		85		79
4.50%, 05/16/2043(m)		2,212		484	Concho Resources Inc
4.50%, 04/16/2044(m)		625		122	3.75%, 10/01/2027		95		92
JP Morgan Mortgage Trust 2014-1					4.38%, 01/15/2025		3,515		3,544
3.50%, 01/25/2044(h),(j)		1,509		1,504	Continental Resources Inc/OK
JP Morgan Mortgage Trust 2016-2					3.80%, 06/01/2024		8,378		8,278
2.83%, 06/25/2046(h),(j)		6,492		6,448	4.38%, 01/15/2028		4,150		4,129
JP Morgan Mortgage Trust 2016-3					4.90%, 06/01/2044		4,990		4,752
3.50%, 10/25/2046(h),(j)		5,537		5,517	5.00%, 09/15/2022		148		149
JP Morgan Mortgage Trust 2017-3					CrownRock LP / CrownRock Finance Inc
3.50%, 08/25/2047(h),(j)		4,356		4,338	5.63%, 10/15/2025(h)		1,100		1,056
JP Morgan Mortgage Trust 2017-4					Denbury Resources Inc
3.50%, 11/25/2048(h),(j)		4,846		4,825	7.50%, 02/15/2024(h)		85		74
JP Morgan Mortgage Trust 2017-6					9.00%, 05/15/2021(h)		40		40
3.50%, 12/25/2048(h),(j)		5,240		5,218	Diamond Offshore Drilling Inc
JP Morgan Mortgage Trust 2018-1					4.88%, 11/01/2043		100		62
3.50%, 06/25/2048(h),(j)		5,314		5,284	Ecopetrol SA
Merrill Lynch Mortgage Investors Trust Series					5.88%, 05/28/2045		125		123
2005-A8					7.38%, 09/18/2043		770		893
2.86%, 08/25/2036		87		86	Encana Corp
1.00 x 1 Month USD LIBOR + 0.35%					5.15%, 11/15/2041		1,295		1,223
Sequoia Mortgage Trust 2016-3					6.50%, 05/15/2019		9,725		9,810
3.50%, 11/25/2046(h),(j)		3,270		3,257	6.50%, 02/01/2038		630		693
Sequoia Mortgage Trust 2018-CH4					EP Energy LLC / Everest Acquisition Finance Inc
4.50%, 10/25/2048(h),(j)		3,630		3,704	7.75%, 05/15/2026(h)		680		626
Wells Fargo Mortgage Backed Securities 2005-					8.00%, 11/29/2024(h)		1,265		1,012
AR16 Trust					9.38%, 05/01/2024(h)		100		53
4.26%, 03/25/2035(j)		59		58	Extraction Oil & Gas Inc
		$		124,348	7.38%, 05/15/2024(h)		950		879
Oil & Gas - 3.07%					Exxon Mobil Corp
Alta Mesa Holdings LP / Alta Mesa Finance					2.22%, 03/01/2021		185		184
Services Corp					Gazprom OAO Via Gaz Capital SA
7.88%, 12/15/2024		200		138	8.63%, 04/28/2034		140		177

See accompanying notes.

17

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)		Value (000’s)		BONDS (continued)	Amount (000’s)		Value (000’s)
Oil & Gas (continued)					Oil & Gas (continued)
Gulfport Energy Corp					Valero Energy Corp
6.38%, 05/15/2025	$	1,485	$	1,407	4.35%, 06/01/2028	$	990	$	1,006
Hess Infrastructure Partners LP / Hess					Whiting Petroleum Corp
Infrastructure Partners Finance Corp					5.75%, 03/15/2021		995		995
5.63%, 02/15/2026(h)		735		728	6.25%, 04/01/2023		925		913
Jagged Peak Energy LLC					6.63%, 01/15/2026		290		284
5.88%, 05/01/2026(h)		785		758	YPF SA
Marathon Oil Corp					6.95%, 07/21/2027		280		251
4.40%, 07/15/2027		1,345		1,350	8.50%, 03/23/2021		155		158
5.20%, 06/01/2045		1,550		1,559			$		95,498
6.60%, 10/01/2037		4,905		5,589	Oil & Gas Services - 0.39%
Marathon Petroleum Corp					Archrock Partners LP / Archrock Partners Finance
4.75%, 09/15/2044		222		206	Corp
MEG Energy Corp					6.00%, 10/01/2022		985		960
7.00%, 03/31/2024(h)		75		66	Baker Hughes a GE Co LLC / Baker Hughes Co-
Murphy Oil Corp					Obligor Inc
4.45%, 12/01/2022		105		103	2.77%, 12/15/2022		855		836
Nabors Industries Inc					3.34%, 12/15/2027		1,915		1,805
5.00%, 09/15/2020		285		281	4.08%, 12/15/2047		5,555		4,897
5.75%, 02/01/2025		700		609	Calfrac Holdings LP
Newfield Exploration Co					8.50%, 06/15/2026(h)		1,030		772
5.38%, 01/01/2026		5,020		5,158	Halliburton Co
5.63%, 07/01/2024		1,330		1,393	3.80%, 11/15/2025		794		797
Noble Holding International Ltd					Nine Energy Service Inc
7.88%, 02/01/2026(h)		50		46	8.75%, 11/01/2023(h)		80		80
Oasis Petroleum Inc					PHI Inc
6.25%, 05/01/2026(h)		420		399	5.25%, 03/15/2019		365		251
6.88%, 01/15/2023		1,345		1,333	SESI LLC
Pacific Drilling SA					7.13%, 12/15/2021		70		62
8.38%, 10/01/2023(h)		55		55	USA Compression Partners LP / USA
Parsley Energy LLC / Parsley Finance Corp					Compression Finance Corp
5.38%, 01/15/2025(h)		80		79	6.88%, 04/01/2026		670		670
Petrobras Global Finance BV					Weatherford International Ltd
6.00%, 01/27/2028		440		439	4.50%, 04/15/2022		500		318
6.25%, 03/17/2024		1,365		1,436	8.25%, 06/15/2023		535		341
7.38%, 01/17/2027		2,110		2,289	9.88%, 02/15/2024		370		241
Petroleos Mexicanos							$		12,030
6.50%, 03/13/2027		1,700		1,631	Other Asset Backed Securities - 1.59%
6.50%, 01/23/2029		40		38	Chase Funding Trust Series 2003-5
QEP Resources Inc					3.11%, 07/25/2033		612		592
5.63%, 03/01/2026		90		86	1.00 x 1 Month USD LIBOR + 0.60%
Range Resources Corp					Chase Funding Trust Series 2004-1
5.00%, 03/15/2023		95		91	2.97%, 12/25/2033		22		22
Rowan Cos Inc					1.00 x 1 Month USD LIBOR + 0.46%
4.88%, 06/01/2022		50		44	Dell Equipment Finance Trust 2017-2
Sanchez Energy Corp					2.81%, 02/24/2020(h)		2,186		2,186
6.13%, 01/15/2023		100		18	1.00 x 1 Month USD LIBOR + 0.30%
7.25%, 02/15/2023(h)		815		687	Dell Equipment Finance Trust 2018-1
Shell International Finance BV					2.81%, 10/22/2020(h)		9,600		9,611
4.00%, 05/10/2046		1,050		1,058	1.00 x 1 Month USD LIBOR + 0.30%
Sinopec Group Overseas Development 2017 Ltd					DLL Securitization Trust 2017-A
2.50%, 09/13/2022(h)		3,850		3,715	1.89%, 07/15/2020(h)		5,022		5,007
Southwestern Energy Co					Ocwen Master Advance Receivables Trust Series
7.75%, 10/01/2027		1,345		1,385	2018-T1
Suncor Energy Inc					3.30%, 08/15/2049(b),(c),(h)		2,700		2,699
4.00%, 11/15/2047		1,045		968	Popular ABS Mortgage Pass-Through Trust
Sunoco LP / Sunoco Finance Corp					2005-1
4.88%, 01/15/2023		1,350		1,330	2.78%, 05/25/2035		104		104
5.50%, 02/15/2026		565		558	1.00 x 1 Month USD LIBOR + 0.27%
5.88%, 03/15/2028		50		49	Verizon Owner Trust 2017-1
Tengizchevroil Finance Co International Ltd					2.06%, 09/20/2021(h)		13,500		13,432
4.00%, 08/15/2026(h)		1,175		1,131	Verizon Owner Trust 2017-2
Transocean Inc					1.92%, 12/20/2021(h)		3,111		3,086
9.00%, 07/15/2023(h)		155		162	Verizon Owner Trust 2017-3
Ultra Resources Inc					2.06%, 04/20/2022(h)		3,000		2,969
6.88%, 04/15/2022(h)		820		328	2.78%, 04/20/2022(h)		9,720		9,720
Unit Corp					1.00 x 1 Month USD LIBOR + 0.27%
6.63%, 05/15/2021		960		907			$		49,428

See accompanying notes.

18

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)		Value (000’s)		BONDS (continued)	Amount (000’s)		Value (000’s)
Packaging & Containers - 0.49%					Pharmaceuticals (continued)
ARD Securities Finance SARL					Endo Finance LLC / Endo Finco Inc
8.75%, PIK 8.75%, 01/31/2023(h),(j),(k)	$	7	$	6	5.38%, 01/15/2023(h)	$	100	$	82
Ardagh Packaging Finance PLC / Ardagh					Teva Pharmaceutical Finance Netherlands III BV
Holdings USA Inc					3.15%, 10/01/2026		330		274
4.63%, 05/15/2023(h)		200		200	4.10%, 10/01/2046		140		103
6.00%, 02/15/2025(h)		1,325		1,288	Valeant Pharmaceuticals International
7.25%, 05/15/2024(h)		475		491	8.50%, 01/31/2027(h)		400		418
Ball Corp					Wyeth LLC
5.25%, 07/01/2025		100		105	6.00%, 02/15/2036		565		694
Berry Global Inc					Zoetis Inc
5.13%, 07/15/2023		120		120	3.90%, 08/20/2028		3,455		3,446
BWAY Holding Co					4.45%, 08/20/2048		1,030		1,011
5.50%, 04/15/2024(h)		90		88			$		40,964
7.25%, 04/15/2025(h)		1,795		1,656	Pipelines - 2.08%
Crown Americas LLC / Crown Americas Capital					Abu Dhabi Crude Oil Pipeline LLC
Corp IV					3.65%, 11/02/2029(h)		1,550		1,515
4.50%, 01/15/2023		75		75	Andeavor Logistics LP / Tesoro Logistics Finance
Crown Americas LLC / Crown Americas Capital					Corp
Corp V					3.50%, 12/01/2022		65		64
4.25%, 09/30/2026		443		421	4.25%, 12/01/2027		1,825		1,775
Crown Americas LLC / Crown Americas Capital					Blue Racer Midstream LLC / Blue Racer Finance
Corp VI					Corp
4.75%, 02/01/2026(i)		305		299	6.13%, 11/15/2022(h)		55		56
Crown Cork & Seal Co Inc					Cheniere Corpus Christi Holdings LLC
7.38%, 12/15/2026		1,615		1,762	5.88%, 03/31/2025		90		95
Flex Acquisition Co Inc					Columbia Pipeline Group Inc
6.88%, 01/15/2025(h)		1,395		1,304	3.30%, 06/01/2020		230		230
Owens-Brockway Glass Container Inc					DCP Midstream Operating LP
5.88%, 08/15/2023(h)		45		47	5.35%, 03/15/2020(h)		5,400		5,481
Packaging Corp of America					Enable Midstream Partners LP
4.50%, 11/01/2023		4,275		4,419	4.40%, 03/15/2027		1,940		1,860
Reynolds Group Issuer Inc / Reynolds					Enbridge Inc
Group Issuer LLC / Reynolds Group Issuer					6.00%, 01/15/2077(l)		2,295		2,192
(Luxembourg) S.A.					3 Month USD LIBOR + 3.89%
5.13%, 07/15/2023(h)		2,295		2,299	Energy Transfer Operating LP
5.75%, 10/15/2020		262		263	4.90%, 03/15/2035		1,420		1,310
6.29%, 07/15/2021(h)		225		226	5.15%, 03/15/2045		1,030		936
3 Month USD LIBOR + 3.50%					5.25%, 04/15/2029		3,100		3,209
		$		15,069	6.25%, 04/15/2049		910		969
Pharmaceuticals - 1.32%					Enterprise Products Operating LLC
AbbVie Inc					4.85%, 03/15/2044		100		103
3.38%, 11/14/2021		1,990		2,004	5.38%, 02/15/2078(l)		2,960		2,572
4.25%, 11/14/2028		65		65	3 Month USD LIBOR + 2.57%
4.88%, 11/14/2048		15		14	Genesis Energy LP / Genesis Energy Finance
Allergan Funding SCS					Corp
4.55%, 03/15/2035		10		10	6.75%, 08/01/2022		115		115
Bausch Health Cos Inc					Kinder Morgan Energy Partners LP
5.63%, 12/01/2021(h)		490		491	4.70%, 11/01/2042		2,625		2,450
5.88%, 05/15/2023(h)		100		98	Kinder Morgan Inc/DE
Bayer US Finance II LLC					2.25%, 03/16/2027	EUR	275		319
3.88%, 12/15/2023(h)		2,070		2,067	3.05%, 12/01/2019	$	1,575		1,575
4.38%, 12/15/2028(h)		3,255		3,193	5.05%, 02/15/2046		20		20
Cigna Corp					5.63%, 11/15/2023(h)		2,905		3,131
3.40%, 09/17/2021(h)		255		256	MPLX LP
3.75%, 07/15/2023(h)		2,110		2,138	4.00%, 03/15/2028		140		135
4.13%, 11/15/2025(h)		3,725		3,801	4.50%, 07/15/2023		3,995		4,129
4.38%, 10/15/2028(h)		6,130		6,294	4.80%, 02/15/2029		690		705
CVS Health Corp					5.20%, 03/01/2047		50		49
2.75%, 12/01/2022		170		166	NuStar Logistics LP
3.70%, 03/09/2023		1,575		1,589	5.63%, 04/28/2027		1,345		1,305
4.13%, 05/15/2021		130		132	ONEOK Partners LP
4.30%, 03/25/2028		640		649	3.80%, 03/15/2020		4,665		4,683
4.75%, 12/01/2022		3,125		3,256	Plains All American Pipeline LP / PAA Finance
4.78%, 03/25/2038		2,065		2,067	Corp
4.88%, 07/20/2035		1,355		1,363	4.50%, 12/15/2026		1,205		1,194
5.00%, 12/01/2024		4,935		5,211
5.05%, 03/25/2048		70		72

See accompanying notes.

19

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Pipelines (continued)					REITs (continued)
Sabine Pass Liquefaction LLC					MGM Growth Properties Operating Partnership
4.20%, 03/15/2028	$	785	$	770	LP / MGP Finance Co-Issuer Inc
5.00%, 03/15/2027		2,975		3,075	5.63%, 05/01/2024	$	860	$	884
5.75%, 05/15/2024		6,085		6,542	MPT Operating Partnership LP / MPT Finance
Summit Midstream Holdings LLC / Summit					Corp
Midstream Finance Corp					6.38%, 03/01/2024		160		167
5.75%, 04/15/2025		965		905	Prologis Euro Finance LLC
Targa Resources Partners LP / Targa Resources					1.88%, 01/05/2029	EUR	400		463
Partners Finance Corp					RHP Hotel Properties LP / RHP Finance Corp
5.88%, 04/15/2026(h)		810		817	5.00%, 04/15/2021	$	90		90
6.50%, 07/15/2027(h)		881		909	SBA Communications Corp
6.88%, 01/15/2029(h)		251		261	4.88%, 09/01/2024		125		125
TransCanada PipeLines Ltd					SBA Tower Trust
3.30%, 07/17/2025	CAD	320		244	2.90%, 10/11/2044(h)		135		135
4.63%, 03/01/2034	$	25		26	Trust F/1401
5.00%, 10/16/2043		70		72	5.25%, 01/30/2026		600		595
Transportadora de Gas del Sur SA					Uniti Group LP / Uniti Group Finance Inc / CSL
6.75%, 05/02/2025		170		158	Capital LLC
Western Gas Partners LP					8.25%, 10/15/2023		100		93
5.45%, 04/01/2044		3,475		3,139	VEREIT Operating Partnership LP
Williams Cos Inc/The					4.13%, 06/01/2021		150		151
4.30%, 03/04/2024		1,420		1,455			$		27,688
5.75%, 06/24/2044		3,840		4,048	Retail - 0.39%
		$		64,598	1011778 BC ULC / New Red Finance Inc
Private Equity - 0.07%					5.00%, 10/15/2025(h)		1,325		1,279
Icahn Enterprises LP / Icahn Enterprises Finance					Claire's Stores Escrow - GCB
Corp					0.00%, 03/15/2019(a),(b),(c)		400		—
6.25%, 02/01/2022		1,095		1,125	Ferrellgas LP / Ferrellgas Finance Corp
6.38%, 12/15/2025		900		919	6.50%, 05/01/2021		100		87
		$		2,044	Golden Nugget Inc
Real Estate - 0.03%					6.75%, 10/15/2024(h)		1,580		1,580
Alpha Star Holding III Ltd					Home Depot Inc/The
6.25%, 04/20/2022		200		176	4.50%, 12/06/2048		65		70
China Overseas Grand Oceans Finance IV					5.88%, 12/16/2036		1,590		1,949
Cayman Ltd					IRB Holding Corp
4.88%, 06/01/2021		400		402	6.75%, 02/15/2026(h)		790		739
Chouzhou International Investment Ltd					JC Penney Corp Inc
4.00%, 12/05/2020		410		397	5.88%, 07/01/2023(h)		40		33
Greystar Real Estate Partners LLC					8.63%, 03/15/2025(h)		175		98
5.75%, 12/01/2025(h)		75		75	KFC Holding Co/Pizza Hut Holdings LLC/Taco
		$		1,050	Bell of America LLC
Regional Authority - 0.02%					5.25%, 06/01/2026(h)		105		106
Provincia de Buenos Aires/Argentina					L Brands Inc
7.88%, 06/15/2027		700		574	5.25%, 02/01/2028		60		53
REITs - 0.89%					5.63%, 02/15/2022		205		208
Alexandria Real Estate Equities Inc					6.69%, 01/15/2027		126		120
3.45%, 04/30/2025		11,095		10,843	6.88%, 11/01/2035		655		562
4.70%, 07/01/2030		2,695		2,767	McDonald's Corp
Camden Property Trust					1.13%, 05/26/2022	EUR	500		586
4.10%, 10/15/2028		5,135		5,242	2.75%, 12/09/2020	$	110		110
CC Holdings GS V LLC / Crown Castle GS III					3.80%, 04/01/2028		165		165
Corp					4.45%, 09/01/2048		945		933
3.85%, 04/15/2023		2,320		2,329	4.88%, 12/09/2045		275		286
Equinix Inc					Walmart Inc
5.38%, 04/01/2023		730		738	3.13%, 06/23/2021		1,075		1,087
5.38%, 05/15/2027		50		50	3.40%, 06/26/2023		165		169
5.88%, 01/15/2026		925		955	3.95%, 06/28/2038		1,755		1,790
ESH Hospitality Inc					4.05%, 06/29/2048		115		118
5.25%, 05/01/2025(h)		55		54			$		12,128
GLP Capital LP / GLP Financing II Inc					Savings & Loans - 0.23%
4.38%, 04/15/2021		325		327	Nationwide Building Society
Iron Mountain Inc					1.50%, 03/08/2026(l)	EUR	550		616
4.38%, 06/01/2021(h)		770		768	3 Month Euro Interbank Offered Rate +
5.25%, 03/15/2028(h)		100		93	0.93%
Iron Mountain US Holdings Inc					4.12%, 10/18/2032(h),(l)	$	7,168		6,523
5.38%, 06/01/2026(h)		825		785	USD Swap Rate NY 5 Year + 1.85%
iStar Inc
5.00%, 07/01/2019		34		34

See accompanying notes.

20

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Savings & Loans (continued)					Sovereign (continued)
Nationwide Building Society   (continued)					CoBank ACB
6.88%, 12/31/2049(g),(l)	GBP	100	$	132	6.25%, 12/31/2049(g),(l)	$	1,270	$	1,310
GBP Swap SA (VS 6 Month) 5 Year +					3 Month USD LIBOR + 4.66%
4.88%					Colombia Government International Bond
		$		7,271	3.88%, 04/25/2027		925		913
Semiconductors - 0.54%					4.50%, 01/28/2026		390		402
NXP BV / NXP Funding LLC					Croatia Government International Bond
3.88%, 09/01/2022(h)	$	3,800		3,786	5.50%, 04/04/2023		370		395
4.63%, 06/15/2022(h)		4,795		4,878	6.63%, 07/14/2020		150		157
4.63%, 06/01/2023(h)		3,675		3,744	Ecuador Government International Bond
4.88%, 03/01/2024(h)		130		133	10.75%, 01/31/2029(h)		775		791
Sensata Technologies UK Financing Co PLC					10.75%, 03/28/2022		850		898
6.25%, 02/15/2026(h)		1,160		1,204	Egypt Government International Bond
Texas Instruments Inc					5.58%, 02/21/2023(h)		825		800
4.15%, 05/15/2048		100		103	Export-Import Bank of India
Xilinx Inc					3.88%, 02/01/2028		420		398
2.95%, 06/01/2024		2,830		2,779	Export-Import Bank of Korea
		$		16,627	3.65%, 01/25/2022		220		221
Software - 0.69%					3 Month USD LIBOR + 0.88%
CDK Global Inc					Guatemala Government Bond
4.88%, 06/01/2027		40		39	5.75%, 06/06/2022		350		366
Epicor Software Corp					Honduras Government International Bond
10.05%, 06/30/2023(h)		582		565	6.25%, 01/19/2027		200		205
3 Month USD LIBOR + 7.25%					7.50%, 03/15/2024		700		753
First Data Corp					Hungary Government International Bond
5.00%, 01/15/2024(h)		50		51	5.38%, 02/21/2023		666		711
Fiserv Inc					6.38%, 03/29/2021		380		403
3.80%, 10/01/2023		2,210		2,212	Indonesia Government International Bond
4.20%, 10/01/2028		835		835	5.38%, 10/17/2023(h)		3,350		3,580
Genesys Telecommunications Laboratories					6.63%, 02/17/2037		330		393
Inc/Greeneden Lux 3 Sarl					Instituto Costarricense de Electricidad
10.00%, 11/30/2024(h)		45		48	6.95%, 11/10/2021		380		366
Infor US Inc					Kazakhstan Government International Bond
6.50%, 05/15/2022		75		76	5.13%, 07/21/2025		550		592
IQVIA Inc					Mexico Government International Bond
4.88%, 05/15/2023(h)		150		152	4.15%, 03/28/2027		2,565		2,514
Microsoft Corp					4.75%, 03/08/2044		440		415
2.40%, 08/08/2026		3,060		2,918	Morocco Government International Bond
3.70%, 08/08/2046		2,950		2,930	4.25%, 12/11/2022		390		394
4.45%, 11/03/2045		1,060		1,178	Oman Government International Bond
4.50%, 02/06/2057		1,140		1,270	6.75%, 01/17/2048		200		170
MSCI Inc					Panama Government International Bond
5.75%, 08/15/2025(h)		65		67	3.88%, 03/17/2028		200		204
Open Text Corp					Perusahaan Penerbit SBSN Indonesia III
5.88%, 06/01/2026(h)		30		31	4.55%, 03/29/2026		390		395
Oracle Corp					Peruvian Government International Bond
2.50%, 10/15/2022		773		762	5.63%, 11/18/2050		325		396
2.95%, 11/15/2024		2,145		2,125	Philippine Government International Bond
3.13%, 07/10/2025	EUR	350		462	9.50%, 02/02/2030		270		407
3.80%, 11/15/2037	$	2,995		2,884	Qatar Government International Bond
4.00%, 11/15/2047		110		106	3.25%, 06/02/2026		2,100		2,056
6.13%, 07/08/2039		1,985		2,461	3.88%, 04/23/2023(h)		1,775		1,808
Rackspace Hosting Inc					Republic of Cameroon International Bond
8.63%, 11/15/2024(h)		100		84	9.50%, 11/19/2025		380		406
Solera LLC / Solera Finance Inc					Republic of Poland Government International
10.50%, 03/01/2024(h)		65		71	Bond
		$		21,327	3.25%, 04/06/2026		400		397
Sovereign - 1.39%					Republic of South Africa Government
Angolan Government International Bond					International Bond
8.25%, 05/09/2028		260		268	4.30%, 10/12/2028		875		816
Argentine Republic Government International					Romanian Government International Bond
Bond					4.88%, 01/22/2024		250		259
5.63%, 01/26/2022		3,320		3,013	5.13%, 06/15/2048		160		158
6.88%, 01/26/2027		1,620		1,371	Russian Foreign Bond - Eurobond
Brazilian Government International Bond					4.38%, 03/21/2029		400		391
7.13%, 01/20/2037		235		276	4.75%, 05/27/2026		3,000		3,055

See accompanying notes.

21

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Sovereign (continued)					Telecommunications (continued)
Saudi Government International Bond					AT&T Inc
4.00%, 04/17/2025(h)	$	3,275	$	3,311	2.85%, 05/25/2024	CAD	325	$	239
4.38%, 04/16/2029(h)		900		916	3.15%, 09/04/2036	EUR	700		793
4.63%, 10/04/2047		420		395	4.30%, 02/15/2030	$	7,996		7,923
Senegal Government International Bond					4.75%, 05/15/2046		30		28
6.25%, 05/23/2033		200		185	4.90%, 08/15/2037		4,665		4,536
Turkey Government International Bond					5.15%, 03/15/2042		145		142
4.88%, 10/09/2026		1,375		1,246	5.20%, 11/18/2033	GBP	100		154
5.75%, 03/22/2024		3,050		3,001	5.45%, 03/01/2047	$	1,290		1,322
Ukraine Government International Bond					6.38%, 03/01/2041		725		816
9.75%, 11/01/2028(h)		575		570	British Telecommunications PLC
Uruguay Government International Bond					4.50%, 12/04/2023		1,425		1,467
5.10%, 06/18/2050		395		406	Cincinnati Bell Inc
Vietnam Government International Bond					7.00%, 07/15/2024(h)		75		64
4.80%, 11/19/2024		390		408	Cisco Systems Inc
		$		43,261	5.50%, 01/15/2040		20		24
Student Loan Asset Backed Securities - 1.96%					Citizens Communications Co
Navient Private Education Loan Trust 2015-C					7.13%, 03/15/2019		185		182
4.01%, 01/16/2035(h)		42		42	Colombia Telecomunicaciones SA ESP
1.00 x 1 Month USD LIBOR + 1.50%					8.50%, 12/31/2049(g),(l)		310		321
Navient Private Education Loan Trust 2017-A					USD Swap Semi-Annual 5 Year + 6.96%
2.91%, 12/16/2058(h)		3,854		3,852	CommScope Technologies LLC
1.00 x 1 Month USD LIBOR + 0.40%					6.00%, 06/15/2025(h)		90		85
Navient Private Education Loan Trust 2018-B					Embarq Corp
2.86%, 12/15/2059(h)		5,440		5,433	8.00%, 06/01/2036		750		709
1.00 x 1 Month USD LIBOR + 0.35%					Frontier Communications Corp
Navient Private Education Refi Loan Trust					8.50%, 04/01/2026(h)		1,355		1,229
2018-C					11.00%, 09/15/2025		1,565		1,008
3.01%, 06/16/2042(h)		705		703	Goodman Networks Inc
Navient Student Loan Trust 2017-3					8.00%, 05/11/2022		257		122
2.81%, 07/26/2066(h)		1,802		1,802	GTT Communications Inc
1.00 x 1 Month USD LIBOR + 0.30%					7.88%, 12/31/2024(h)		840		739
3.11%, 07/26/2066(h)		6,750		6,758	HC2 Holdings Inc
1.00 x 1 Month USD LIBOR + 0.60%					11.50%, 12/01/2021(h)		100		95
Navient Student Loan Trust 2017-4					Hughes Satellite Systems Corp
3.01%, 09/27/2066(h)		3,500		3,500	6.63%, 08/01/2026		95		91
1.00 x 1 Month USD LIBOR + 0.50%					Intelsat Jackson Holdings SA
Navient Student Loan Trust 2018-1					5.50%, 08/01/2023		1,080		983
2.70%, 03/25/2067(h)		1,522		1,521	8.00%, 02/15/2024(h)		1,185		1,234
1.00 x 1 Month USD LIBOR + 0.19%					8.50%, 10/15/2024(h)		1,380		1,394
Navient Student Loan Trust 2019-1					Level 3 Financing Inc
2.84%, 12/27/2067(b),(c),(h)		13,000		13,000	5.13%, 05/01/2023		130		129
1.00 x 1 Month USD LIBOR + 0.33%					5.38%, 01/15/2024		25		25
SMB Private Education Loan Trust 2017-B					5.38%, 05/01/2025		90		89
2.78%, 06/17/2024(h)		4,698		4,696	Level 3 Parent LLC
1.00 x 1 Month USD LIBOR + 0.27%					5.75%, 12/01/2022		20		20
SMB Private Education Loan Trust 2018-B					Nokia OYJ
2.83%, 12/16/2024(h)		11,841		11,836	6.63%, 05/15/2039		70		73
1.00 x 1 Month USD LIBOR + 0.32%					Orange SA
Sofi Professional Loan Program 2016-A LLC					5.75%, 12/31/2049(g),(l)	GBP	125		174
4.26%, 08/25/2036(h)		1,543		1,568	GBP Swap SA (VS 6 Month) 5 Year +
1.00 x 1 Month USD LIBOR + 1.75%					3.35%
Sofi Professional Loan Program 2017-B LLC					SES SA
1.83%, 05/25/2040(h)		469		466	4.62%, 12/31/2049(g),(l)	EUR	300		353
SoFi Professional Loan Program 2017-D LLC					EUR Swap Annual (VS 6 Month) 5 Year
1.72%, 09/25/2040(h)		327		325	+ 4.66%
SoFi Professional Loan Program 2017-E LLC					Sprint Capital Corp
3.01%, 11/26/2040(h)		2,341		2,341	6.90%, 05/01/2019	$	640		644
1.00 x 1 Month USD LIBOR + 0.50%					8.75%, 03/15/2032		705		774
Sofi Professional Loan Program 2018-A LLC					Sprint Communications Inc
2.86%, 02/25/2042(h)		2,975		2,976	6.00%, 11/15/2022		1,425		1,441
1.00 x 1 Month USD LIBOR + 0.35%					7.00%, 08/15/2020		40		41
		$		60,819	Sprint Corp
Telecommunications - 1.55%					7.13%, 06/15/2024		1,645		1,683
America Movil SAB de CV					7.63%, 03/01/2026		425		441
6.38%, 03/01/2035		100		120	7.88%, 09/15/2023		1,730		1,838
Anixter Inc
5.13%, 10/01/2021		220		224

See accompanying notes.

22

Schedule of Investments
Core Plus Bond Fund
January 31, 2019 (unaudited)
	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Telecommunications (continued)					Trucking & Leasing - 0.13%
Telecom Italia Capital SA					Avolon Holdings Funding Ltd
6.38%, 11/15/2033	$	285	$	259	5.13%, 10/01/2023(h)	$	360	$	365
7.72%, 06/04/2038		80		80	5.50%, 01/15/2023(h)		1,620		1,651
Telecom Italia Finance SA					DAE Funding LLC
7.75%, 01/24/2033	EUR	150		207	4.50%, 08/01/2022(h)		960		948
Telecom Italia SpA/Milano					5.25%, 11/15/2021(h)		5		5
5.30%, 05/30/2024(h)	$	680		646	5.75%, 11/15/2023(h)		680		687
5.88%, 05/19/2023	GBP	100		136	Park Aerospace Holdings Ltd
Telefonica Emisiones SA					5.25%, 08/15/2022(h)		145		147
5.21%, 03/08/2047	$	1,765		1,710	5.50%, 02/15/2024(h)		315		320
T-Mobile USA Inc							$		4,123
4.00%, 04/15/2022		205		202	TOTAL BONDS		$		1,919,952
4.50%, 02/01/2026		395		385	SENIOR FLOATING RATE INTERESTS	Principal
5.13%, 04/15/2025		980		990	- 1.95%	Amount (000's)		Value (000's)
5.38%, 04/15/2027		50		50	Aerospace & Defense - 0.01%
6.00%, 04/15/2024		345		354	TransDigm Inc
6.50%, 01/15/2024		190		197	5.00%, 06/09/2023(n)	$	220	$	215
6.50%, 01/15/2026		1,515		1,602	US LIBOR + 2.50%
Turkcell Iletisim Hizmetleri AS					Automobile Manufacturers - 0.09%
5.75%, 10/15/2025		200		190	Navistar Financial Corp
VEON Holdings BV					6.25%, 07/30/2025(n)		1,726		1,700
3.95%, 06/16/2021(h)		1,175		1,152	US LIBOR + 3.75%
Verizon Communications Inc					Navistar Inc
4.50%, 08/10/2033		2,255		2,292	6.02%, 11/06/2024(n)		1,160		1,140
5.25%, 03/16/2037		3,030		3,257	US LIBOR + 3.50%
Wind Tre SpA							$		2,840
5.00%, 01/20/2026(h)		755		621	Automobile Parts & Equipment - 0.02%
Windstream Services LLC / Windstream Finance					American Axle & Manufacturing Inc
Corp					4.76%, 04/06/2024(n)		539		519
9.00%, 06/30/2025(h)		41		31	US LIBOR + 2.25%
10.50%, 06/30/2024(h)		100		83
		$		48,213	Chemicals - 0.12%
					Aruba Investments Inc
Toys, Games & Hobbies - 0.00%					5.75%, 02/02/2022(n)		415		408
Mattel Inc					US LIBOR + 3.25%
6.75%, 12/31/2025(h)		100		95	Consolidated Energy Finance SA
Transportation - 0.49%					5.01%, 05/07/2025(n)		1,114		1,070
Burlington Northern Santa Fe LLC					US LIBOR + 2.50%
4.15%, 12/15/2048		315		321	Emerald Performance Materials LLC
4.38%, 09/01/2042		870		909	10.25%, 08/01/2022(n)		1,635		1,619
Canadian National Railway Co					US LIBOR + 6.75%
4.45%, 01/20/2049		3,335		3,609	Starfruit US Holdco LLC
CSX Corp					5.75%, 10/01/2025(n)		600		586
4.75%, 11/15/2048		1,955		2,034	US LIBOR + 3.25%
Eletson Holdings Inc / Eletson Finance US LLC /							$		3,683
Agathonissos Finance LLC					Commercial Services - 0.15%
9.62%, 01/15/2022(j)		1,749		682	Garda World Security Corp
FedEx Corp					6.26%, 05/24/2024(n)		817		801
0.70%, 05/13/2022	EUR	250		287	US LIBOR + 3.50%
Kazakhstan Temir Zholy National Co JSC					Prime Security Services Borrower LLC
4.85%, 11/17/2027(h)	$	650		652	5.25%, 05/02/2022(n)		1,128		1,111
Navios Maritime Acquisition Corp / Navios					US LIBOR + 2.75%
Acquisition Finance US Inc					Refinitiv US Holdings Inc
8.13%, 11/15/2021(h)		2,990		2,258	6.25%, 09/18/2025(n)		2,175		2,087
Navios Maritime Holdings Inc / Navios Maritime					US LIBOR + 3.75%
Finance II US Inc					TMS International Corp
7.38%, 01/15/2022(h)		1,235		723	5.40%, 08/14/2024(n)		814		787
11.25%, 08/15/2022(h)		715		497	US LIBOR + 2.75%
Navios South American Logistics Inc / Navios							$		4,786
Logistics Finance US Inc
7.25%, 05/01/2022(h)		725		678	Computers - 0.08%
Union Pacific Corp					Dell International LLC
3.20%, 06/08/2021		140		141	4.50%, 09/07/2023(n)		903		890
3.50%, 06/08/2023		2,400		2,430	US LIBOR + 2.00%
4.38%, 11/15/2065		35		31	McAfee LLC
XPO Logistics Inc					13.12%, 09/29/2025(n)		1,445		1,466
6.50%, 06/15/2022(h)		91		93	US LIBOR + 8.50%
		$		15,345			$		2,356

See accompanying notes.

23

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

SENIOR FLOATING RATE INTERESTS	Principal				SENIOR FLOATING RATE INTERESTS	Principal
(continued)	Amount (000’s)		Value (000’s)		(continued)	Amount (000’s)		Value (000’s)
Consumer Products - 0.02%					Insurance - 0.13%
Prestige Brands Inc					Asurion LLC
4.50%, 01/26/2024(n)	$	516	$	509	5.50%, 11/03/2023(n)	$	225	$	221
US LIBOR + 2.00%					US LIBOR + 3.00%
Diversified Financial Services - 0.11%					9.00%, 08/04/2025(n)		1,080		1,086
Lions Gate Capital Holdings LLC					US LIBOR + 6.50%
4.75%, 03/24/2025(n)		763		750	Genworth Holdings Inc
US LIBOR + 2.25%					7.01%, 03/07/2023(n)		2,096		2,091
Russell Investments US Institutional Holdco Inc					US LIBOR + 4.50%
5.75%, 06/01/2023(n)		2,661		2,621	HUB International Ltd
US LIBOR + 3.25%					5.51%, 04/25/2025(n)		821		790
		$		3,371	US LIBOR + 3.00%
Electric - 0.02%							$		4,188
Vistra Operations Co LLC					Leisure Products & Services - 0.03%
4.51%, 12/14/2025(n)		635		623	ClubCorp Holdings Inc
US LIBOR + 2.00%					5.55%, 09/18/2024(n)		1,033		985
Electrical Components & Equipment - 0.06%					US LIBOR + 2.75%
Energizer Holdings Inc					Lodging - 0.04%
4.76%, 12/17/2025(n)		1,720		1,707	Caesars Resort Collection LLC
US LIBOR + 2.25%					5.25%, 12/22/2024(n)		540		532
Entertainment - 0.12%					US LIBOR + 2.75%
CCM Merger Inc					Golden Nugget LLC
4.75%, 08/06/2021(n)		785		776	5.25%, 10/04/2023(n)		442		435
US LIBOR + 2.25%					US LIBOR + 2.75%
Eldorado Resorts Inc					Marriott Ownership Resorts Inc
4.81%, 04/17/2024(n)		1,111		1,096	4.75%, 08/29/2025(n)		420		417
US LIBOR + 2.25%					US LIBOR + 2.25%
Stars Group Holdings BV							$		1,384
6.30%, 07/10/2025(n)		517		511	Media - 0.02%
US LIBOR + 3.50%					Meredith Corp
WMG Acquisition Corp					5.25%, 01/31/2025(n)		547		543
4.62%, 11/01/2023(n)		1,478		1,449	US LIBOR + 2.75%
US LIBOR + 2.13%					Oil & Gas - 0.08%
		$		3,832	California Resources Corp
Environmental Control - 0.01%					7.25%, 12/31/2022(n)		1,110		1,086
Filtration Group Corp					US LIBOR + 4.75%
5.50%, 03/31/2025(n)		263		261	12.87%, 12/31/2021(n)		1,425		1,487
US LIBOR + 3.00%					US LIBOR + 10.37%
Food - 0.05%							$		2,573
JBS USA LUX SA					Packaging & Containers - 0.07%
5.26%, 10/30/2022(n)		600		593	Berry Global Inc
US LIBOR + 2.50%					4.52%, 10/01/2022(n)		313		310
Post Holdings Inc					US LIBOR + 2.00%
4.52%, 05/24/2024(n)		871		859	Caraustar Industries Inc
US LIBOR + 2.00%					8.30%, 03/14/2022(n)		1,023		1,022
		$		1,452	US LIBOR + 5.50%
Healthcare - Products - 0.05%					CROWN Americas LLC
DJO Finance LLC					4.51%, 04/03/2025(n)		148		147
5.83%, 06/08/2020(n)		838		836	US LIBOR + 2.00%
US LIBOR + 3.25%					Flex Acquisition Co Inc
Kinetic Concepts Inc					5.52%, 12/29/2023(n)		415		402
6.05%, 02/02/2024(n)		680		674	US LIBOR + 3.00%
US LIBOR + 3.25%					Reynolds Group Holdings Inc
		$		1,510	5.25%, 02/05/2023(n)		415		408
Healthcare - Services - 0.13%					US LIBOR + 2.75%
Acadia Healthcare Co Inc							$		2,289
5.00%, 02/16/2023(n)		550		541	Pharmaceuticals - 0.14%
US LIBOR + 2.50%					Endo International PLC
AHP Health Partners Inc					6.81%, 04/29/2024(n)		215		213
7.00%, 06/16/2025(n)		651		645	US LIBOR + 4.25%
US LIBOR + 4.50%					Valeant Pharmaceuticals International
MPH Acquisition Holdings LLC					4.99%, 11/14/2025(n)		1,511		1,489
4.27%, 06/07/2023(n)		726		702	US LIBOR + 2.75%
US LIBOR + 3.00%					5.35%, 05/19/2025(n)		2,760		2,728
RegionalCare Hospital Partners Holdings Inc					US LIBOR + 3.00%
7.13%, 11/14/2025(n)		2,305		2,247			$		4,430
US LIBOR + 4.50%
		$		4,135

See accompanying notes.

24

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

SENIOR FLOATING RATE INTERESTS	Principal				U.S. GOVERNMENT & GOVERNMENT		Principal
(continued)	Amount (000’s)			Value (000’s)	AGENCY OBLIGATIONS (continued)	Amount (000’s)			Value (000’s)
Pipelines - 0.02%					Federal Home Loan Mortgage Corporation (FHLMC) (continued)
Centurion Pipeline Co LLC					3.50%, 11/01/2046		$	4,582	$	4,630
6.05%, 09/26/2025(n)	$	630	$	617	3.50%, 03/01/2048			1,085		1,092
US LIBOR + 3.25%					3.86%, 01/01/2034			42		43
REITs - 0.01%					1.00 x US Treasury Yield Curve Rate T
MGM Growth Properties Operating Partnership					Note Constant Maturity 1 Year + 2.37%
LP					4.00%, 02/01/2043(o)			7,000		7,169
4.41%, 04/25/2025(n)		415		408	4.00%, 04/01/2048			95		98
US LIBOR + 2.00%					4.50%, 04/01/2031			823		863
Retail - 0.18%					4.50%, 04/01/2041			5,320		5,588
Academy Ltd					4.50%, 12/01/2043			4,636		4,847
6.51%, 07/01/2022(n)		1,259		864	4.50%, 09/01/2044			6,114		6,378
US LIBOR + 4.00%					4.50%, 03/01/2046			1,147		1,214
Beacon Roofing Supply Inc					5.00%, 06/01/2031			647		684
4.77%, 01/02/2025(n)		421		409	5.00%, 09/01/2039			1,757		1,880
US LIBOR + 2.25%					5.50%, 08/01/2023			288		295
Claire's Stores Inc					5.50%, 05/01/2033			56		61
0.75%, 10/12/2022(n)		11		11	5.50%, 10/01/2033			44		47
US LIBOR + 7.50%					5.50%, 12/01/2033			624		675
Claire's Stores, Inc					5.50%, 11/01/2036			540		585
9.94%, 09/15/2038(n)		37		55	5.50%, 04/01/2038			176		190
US LIBOR + 7.25%					5.50%, 08/01/2038			402		436
GYP Holdings III Corp					5.50%, 03/01/2040			621		669
5.25%, 06/01/2025(n)		422		404	6.00%, 03/01/2022			7		8
US LIBOR + 2.75%					6.00%, 07/01/2023			129		140
IRB Holding Corp					6.00%, 06/01/2028			2		3
5.76%, 01/17/2025(n)		1,062		1,032	6.00%, 01/01/2029			1		1
US LIBOR + 3.25%					6.00%, 12/01/2031			27		30
JC Penney Corp Inc					6.00%, 12/01/2032			26		28
6.96%, 06/23/2023(n)		460		397	6.00%, 02/01/2033			124		134
US LIBOR + 4.25%					6.00%, 12/01/2033			31		34
KFC Holding Co					6.00%, 10/01/2036			206		226
4.26%, 04/03/2025(n)		520		515	6.00%, 01/01/2038			269		298
US LIBOR + 1.75%					6.00%, 01/01/2038			12		13
Michaels Stores Inc					6.00%, 07/01/2038			1,073		1,189
5.01%, 01/28/2023(n)		421		415	6.50%, 03/01/2029			5		6
US LIBOR + 2.50%					6.50%, 05/01/2029			7		8
PetSmart Inc					6.50%, 04/01/2031			3		3
5.52%, 03/11/2022(n)		1,639		1,370	6.50%, 09/01/2031			2		2
US LIBOR + 3.00%					6.50%, 02/01/2032			2		2
		$		5,472	6.50%, 05/01/2032			9		11
Telecommunications - 0.15%					6.50%, 04/01/2035			68		76
Avaya Inc					6.50%, 10/01/2035			53		60
6.76%, 12/16/2024(n)		1,719		1,689	7.00%, 12/01/2029			6		6
US LIBOR + 4.25%					7.00%, 06/01/2030			12		13
Level 3 Parent LLC					7.00%, 12/01/2030			4		4
4.69%, 02/22/2024(n)		270		265	7.00%, 09/01/2031			1		1
US LIBOR + 2.25%					7.50%, 09/01/2030			1		1
Maxar Technologies Ltd					7.50%, 01/01/2031			6		7
5.25%, 10/05/2024(n)		3,192		2,782	7.50%, 03/01/2031			2		2
US LIBOR + 2.75%					7.50%, 02/01/2032			3		3
		$		4,736	8.00%, 09/01/2030			46		48
								$		66,580
Transportation - 0.01%					Federal National Mortgage Association (FNMA) - 19.61%
Navios Maritime Partners LP
7.78%, 09/14/2020(n)		308		305	2.50%, 04/01/2028			2,378		2,354
US LIBOR + 5.00%					2.50%, 06/01/2028			162		161
					2.50%, 09/01/2029			777		767
Trucking & Leasing - 0.03%					3.00%, 02/01/2027(o)			68,000		68,093
Avolon TLB Borrower 1 US LLC					3.00%, 07/01/2028			4,220		4,234
4.50%, 01/15/2025(n)		963		952	3.00%, 10/01/2029			106		106
US LIBOR + 2.00%					3.00%, 10/01/2030			4,186		4,195
TOTAL SENIOR FLOATING RATE INTERESTS		$		60,681	3.00%, 08/01/2034			4,730		4,741
U.S. GOVERNMENT & GOVERNMENT	Principal				3.00%, 10/01/2034			2,489		2,495
AGENCY OBLIGATIONS - 40.25%	Amount (000's)        Value (000's)				3.00%, 12/01/2040			181		178
Federal Home Loan Mortgage Corporation (FHLMC) - 2.14%					3.00%, 11/01/2042			562		556
3.00%, 01/01/2043	$	2,875	$	2,841	3.00%, 04/01/2043			23,026		22,741
3.00%, 02/01/2043		1,209		1,195	3.00%, 04/01/2043			582		575
3.00%, 03/01/2043		498		493	3.00%, 05/01/2043			5,071		5,008
3.00%, 01/01/2047		22,559		22,250	3.00%, 05/01/2043			874		863

See accompanying notes.

25

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

U.S. GOVERNMENT & GOVERNMENT	Principal				U.S. GOVERNMENT & GOVERNMENT	Principal
AGENCY OBLIGATIONS (continued)	Amount (000’s)   Value (000’s)				AGENCY OBLIGATIONS (continued)	Amount (000’s)  Value (000’s)
Federal National Mortgage Association (FNMA) (continued)					Federal National Mortgage Association (FNMA) (continued)
3.00%, 08/01/2043	$	3,775	$	3,728	4.50%, 02/01/2043(o)	$	57,250	$	59,502
3.00%, 03/01/2048		12,611		12,412	4.50%, 06/01/2044		991		1,045
3.50%, 04/01/2030		6,617		6,753	4.50%, 12/01/2044		7,720		8,067
3.50%, 02/01/2033		45		46	4.75%, 04/01/2033		74		77
3.50%, 10/01/2033		2,749		2,804	1.00 x 6 Month USD LIBOR + 2.26%
3.50%, 08/01/2034		1,982		2,021	4.85%, 03/01/2035		1,937		2,058
3.50%, 08/01/2038		4,819		4,891	1.00 x US Treasury Yield Curve Rate T
3.50%, 01/01/2041		250		252	Note Constant Maturity 1 Year + 2.62%
3.50%, 02/01/2043(o)		20,000		20,099	5.00%, 05/01/2040		4,467		4,780
3.50%, 05/01/2043		390		395	5.00%, 02/01/2043(o)		10,000		10,520
3.50%, 07/01/2043		1,695		1,716	5.00%, 07/01/2044		2,627		2,799
3.50%, 09/01/2044		5,798		5,867	5.00%, 11/01/2048		4,912		5,172
3.50%, 11/01/2044		4,421		4,468	5.50%, 06/01/2020		30		30
3.50%, 03/01/2045		7,997		8,097	5.50%, 09/01/2020		199		201
3.50%, 04/01/2045		3,855		3,896	5.50%, 02/01/2023		25		27
3.50%, 08/01/2045		5,959		6,051	5.50%, 06/01/2023		85		90
3.50%, 11/01/2045		12,370		12,531	5.50%, 07/01/2023		2		2
3.50%, 01/01/2046		5,411		5,488	5.50%, 07/01/2033		117		127
3.50%, 10/01/2046		4,778		4,821	5.50%, 09/01/2033		159		174
3.50%, 11/01/2046		13,015		13,165	5.50%, 08/01/2036		1,277		1,391
3.50%, 12/01/2046		8,149		8,218	5.50%, 02/01/2037		43		46
3.50%, 12/01/2046		5,790		5,833	5.50%, 04/01/2038		1,982		2,142
3.50%, 01/01/2047		14,207		14,381	5.50%, 12/01/2038		1,067		1,152
3.50%, 04/01/2047		241		244	5.50%, 05/01/2040		478		511
3.50%, 08/01/2047		15,272		15,441	6.00%, 02/01/2023		9		10
3.50%, 10/01/2047		1,368		1,382	6.00%, 11/01/2035		1,018		1,116
3.50%, 10/01/2047		180		182	6.00%, 02/01/2038		428		463
3.50%, 11/01/2047		6,054		6,113	6.00%, 05/01/2038		86		93
3.50%, 11/01/2047		6,096		6,163	6.00%, 08/01/2038		221		239
3.50%, 12/01/2047		11,314		11,438	6.00%, 08/01/2038		316		341
3.50%, 01/01/2048		4,743		4,791	6.00%, 03/01/2040		2,696		2,955
3.50%, 03/01/2048		8,909		8,995	6.50%, 05/01/2022		6		6
3.50%, 04/01/2048		14,039		14,175	6.50%, 12/01/2031		2		3
3.50%, 04/01/2048		14,608		14,754	6.50%, 02/01/2032		2		2
3.57%, 02/01/2036		16		17	6.50%, 02/01/2032		2		2
1.00 x 12 Month USD LIBOR + 1.61%					6.50%, 04/01/2032		7		7
3.63%, 10/01/2034		49		49	6.50%, 06/01/2032		1		1
1.00 x 6 Month USD LIBOR + 1.13%					6.50%, 08/01/2032		8		8
3.73%, 04/01/2036		103		107	6.50%, 07/01/2037		187		207
1.00 x 12 Month USD LIBOR + 1.58%					6.50%, 07/01/2037		312		339
3.96%, 01/01/2033		46		48	6.50%, 12/01/2037		262		298
1.00 x US Treasury Yield Curve Rate T					6.50%, 02/01/2038		342		386
Note Constant Maturity 1 Year + 2.14%					6.50%, 03/01/2038		138		151
4.00%, 08/01/2020		254		262	6.50%, 09/01/2038		389		441
4.00%, 02/01/2031		310		319	7.00%, 03/01/2032		23		25
4.00%, 03/01/2034		774		804	7.50%, 08/01/2032		6		6
4.00%, 04/01/2034		4,231		4,394			$		609,559
4.00%, 05/01/2044		3,996		4,126	Government National Mortgage Association (GNMA) - 6.78%
4.00%, 06/01/2044		6,557		6,758	3.00%, 06/20/2043		3,157		3,160
4.00%, 05/01/2045		17,069		17,536	3.00%, 01/20/2045		1,584		1,579
4.00%, 10/01/2045		5,244		5,395	3.00%, 01/20/2046		6,204		6,181
4.00%, 04/01/2047		6,987		7,194	3.00%, 06/20/2046		870		865
4.00%, 05/01/2047		17,787		18,258	3.00%, 07/20/2046		18,526		18,419
4.00%, 06/01/2047		1,807		1,855	3.00%, 12/20/2046		2,733		2,715
4.00%, 06/01/2047		18,245		18,778	3.00%, 11/20/2048		6,485		6,440
4.00%, 10/01/2047		7,054		7,240	3.50%, 03/15/2042		1,254		1,279
4.00%, 11/01/2047		16,660		17,162	3.50%, 04/15/2042		1,311		1,334
4.00%, 02/01/2048(o)		11,500		11,771	3.50%, 09/20/2044		84		85
4.00%, 04/01/2048		20,425		21,042	3.50%, 09/20/2047		1,697		1,723
4.00%, 04/01/2048		3,029		3,120	3.50%, 11/15/2047		382		387
4.00%, 06/01/2048		48		49	3.50%, 02/01/2048		29,500		29,874
4.00%, 10/01/2048		4,952		5,104	3.50%, 03/20/2048		4,742		4,805
4.25%, 07/01/2033		556		578	3.75%, 07/20/2043		317		323
1.00 x 12 Month USD LIBOR + 1.56%					1.00 x US Treasury Yield Curve Rate T
4.49%, 08/01/2035		105		110	Note Constant Maturity 1 Year + 1.50%
1.00 x 12 Month USD LIBOR + 1.74%					4.00%, 02/01/2042		14,000		14,404
4.50%, 04/01/2024		879		904	4.00%, 02/15/2042		918		950
4.50%, 09/01/2040		845		889	4.00%, 08/15/2045		3,641		3,756

See accompanying notes.

26

     Schedule of Investments Core Plus Bond Fund January 31, 2019 (unaudited)

U.S. GOVERNMENT & GOVERNMENT	Principal				U.S. GOVERNMENT & GOVERNMENT			Principal
AGENCY OBLIGATIONS (continued)	Amount (000’s)     Value (000’s)				AGENCY OBLIGATIONS (continued)		Amount (000’s)  Value (000’s)
Government National Mortgage Association (GNMA) (continued)					U.S. Treasury Inflation-Indexed Obligations (continued)
4.00%, 06/20/2046	$	870	$	896	0.13%, 07/15/2026			$		799	$	765
4.00%, 06/20/2047		6,377		6,578	0.38%, 07/15/2023					466		461
4.00%, 01/20/2048		23,032		23,923	0.38%, 07/15/2025					563		553
4.00%, 10/15/2048		7,708		7,964	0.38%, 01/15/2027					663		642
4.50%, 06/20/2025		2,278		2,373	0.38%, 07/15/2027					735		713
4.50%, 09/15/2039		355		377	0.63%, 01/15/2024					367		366
4.50%, 03/15/2040		2,505		2,630	0.75%, 02/15/2045					444		410
4.50%, 08/15/2040		4,570		4,799	1.00%, 02/15/2046					245		239
4.50%, 02/01/2042		25,000		25,957	1.00%, 02/15/2048					87		85
4.50%, 01/20/2048		5,366		5,575	1.38%, 02/15/2044					335		356
4.50%, 06/20/2048		9,906		10,293	2.13%, 02/15/2041					196		237
5.00%, 11/15/2033		1,765		1,894	3.38%, 04/15/2032					61		80
5.00%, 06/15/2034		33		35	3.88%, 04/15/2029					636		825
5.00%, 10/20/2039		146		156						$		10,107
5.00%, 07/20/2040		265		277	TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY
5.00%, 02/15/2042		1,233		1,324	OBLIGATIONS				$	1,251,101
5.00%, 02/01/2048		15,000		15,664	Total Investments				$	3,392,113
5.50%, 10/15/2033		617		677	Other Assets and Liabilities -  (9.13)%							(283,671	)
5.50%, 05/20/2035		67		73	TOTAL NET ASSETS - 100.00%				$	3,108,442
5.50%, 02/15/2038		588		632
6.00%, 07/20/2028		25		28
6.00%, 11/20/2028		24		26	(a)	Non-income producing security
6.00%, 01/20/2029		28		30	(b)	The value of these investments was determined using significant unobservable
6.00%, 07/20/2029		6		7		inputs.
6.00%, 08/15/2031		18		20	(c)	Fair value of these investments is determined in good faith by the Manager
6.00%, 01/15/2032		3		3		under procedures established and periodically reviewed by the Board of
6.00%, 02/15/2032		25		27		Directors. Certain inputs used in the valuation may be unobservable; however,
6.00%, 02/15/2033		31		33		each security is evaluated individually for purposes of ASC 820 which results
6.00%, 12/15/2033		40		44		in not all securities being identified as Level 3 of the fair value hierarchy.
6.50%, 03/20/2028		5		6		At the end of the period, the fair value of these securities totaled $16,082 or
6.50%, 05/20/2029		5		6		0.52% of net assets.
6.50%, 10/15/2032		15		17	(d)	Affiliated Security. Security is either an affiliate (and registered under the
6.50%, 12/15/2032		52		56		Investment Company Act of 1940) or an affiliate as defined by the Investment
7.00%, 06/15/2031		10		11		Company Act of 1940 (controls 5.0% or more of the outstanding voting
7.00%, 07/15/2031		2		2		shares of the security). Please see affiliated sub-schedule for transactional
7.00%, 06/15/2032		79		88		information.
8.00%, 01/20/2031		4		5	(e)	Current yield shown is as of period end.
		$		210,785	(f)	Restricted Security. Please see Restricted Security Sub-Schedule for more
U.S. Treasury - 10.75%						information.
1.25%, 10/31/2021		16,900		16,365	(g)	Perpetual security. Perpetual securities pay an indefinite stream of interest,
1.38%, 03/31/2020		200		197		but they may be called by the issuer at an earlier date. Date shown, if any,
1.50%, 01/31/2022		2,025		1,970		reflects the next call date or final legal maturity date. Rate shown is as of
1.50%, 08/15/2026		1,000		928		period end.
1.63%, 10/31/2023		13,800		13,295	(h)	Security exempt from registration under Rule 144A of the Securities Act of
1.75%, 04/30/2022		125		122		1933. These securities may be resold in transactions exempt from registration,
2.00%, 05/31/2021		4,540		4,492		normally to qualified institutional buyers. At the end of the period, the value of
2.00%, 10/31/2022		35,000		34,453		these securities totaled $550,865 or 17.72% of net assets.
2.50%, 12/31/2020		35,000		35,019	(i)	Security purchased on a when-issued basis.
2.50%, 05/15/2024		30,000		30,048	(j)	Certain variable rate securities are not based on a published reference rate
3.00%, 09/30/2025		26,000		26,767		and spread but are determined by the issuer or agent and are based on current
3.00%, 11/15/2044(p)		23,400		23,444		market conditions.  These securities do not indicate a reference rate and
3.00%, 05/15/2045		35,045		35,107		spread in their description. Rate shown is the rate in effect as of period end.
3.00%, 11/15/2045		39,000		39,046	(k)	Payment in kind; the issuer has the option of paying additional securities in
3.13%, 05/15/2048		13,750		14,052		lieu of cash.
3.75%, 11/15/2043(q)		4,035		4,573	(l)	Rate shown is as of period end. The rate may be a variable or floating rate or
3.88%, 08/15/2040		44,545		51,375		a fixed rate which may convert to a variable or floating rate in the future.
4.75%, 02/15/2037		2,300		2,945	(m)	Security is an Interest Only Strip.
		$		334,198	(n)	Rate information disclosed is based on an average weighted rate of the
						underlying tranches as of period end.
U.S. Treasury Bill - 0.64%					(o)	Security was purchased in a "to-be-announced" ("TBA") transaction.  See
2.36%, 05/09/2019(r)		20,000		19,872		Notes to Financial Statements for additional information.
U.S. Treasury Inflation-Indexed Obligations - 0.33%					(p)	Security or a portion of the security was pledged to cover margin requirements
0.13%, 04/15/2020		700		690		for swap and/or swaption contracts. At the end of the period, the value of these
0.13%, 04/15/2021		1,063		1,046		securities totaled $2,076 or 0.07% of net assets.
0.13%, 01/15/2022		295		290	(q)	Security or a portion of the security was pledged to cover margin requirements
0.13%, 04/15/2022		580		568		for futures contracts. At the end of the period, the value of these securities
0.13%, 07/15/2022		236		232		totaled $2,369 or 0.08% of net assets.
0.13%, 01/15/2023		756		738	(r)	Rate shown is the discount rate of the original purchase.
0.13%, 07/15/2024		833		811

See accompanying notes.

27

Schedule of Investments
Core Plus Bond Fund
January 31, 2019 (unaudited)
Portfolio Summary  (unaudited)
Sector				Percent
Mortgage Securities				37.72			%
Government				13.24			%
Financial				11.77			%
Asset Backed Securities				10.35			%
Consumer, Non-cyclical				7.25			%
Energy				5.70			%
Investment Companies				4.96			%
Communications				4.90			%
Consumer, Cyclical				3.65			%
Industrial				3.03			%
Technology				2.42			%
Utilities				2.36			%
Basic Materials				1.77			%
Diversified				0.01			%
Other Assets and Liabilities				(9.13			)%
TOTAL NET ASSETS				100.00			%
Affiliated Securities			October 31, 2018								Purchases		Sales			January 31, 2019
						Value					Cost		Proceeds			Value
Principal Government Money Market Fund 2.32%		$		193,677			$		380,592			$	420,346	$			153,923
		$		193,677			$		380,592			$	420,346	$			153,923
						Realized Gain/Loss					Realized Gain from					Change in Unrealized
			Income			on Investments					Capital Gain Distributions					Gain/Loss
Principal Government Money Market Fund 2.32%		$		727	$			— $	— $								—
		$		727	$			— $	— $								—
Amounts in thousands
Restricted Securities
Security Name				Acquisition Date							Cost		Value			Percent of Net Assets
Pinnacle Operating Corp - 0.00%				03/09/2017						$	450		$	148			0.00	%
Total													$	148			0.00	%
Amounts in thousands.
Futures Contracts
Description and Expiration Date				Type		Contracts			Notional Amount				Value and Unrealized Appreciation/(Depreciation)
US 10 Year Note; March 2019				Long				236	$		28,903		$				109
US 10 Year Ultra Note; March 2019				Short				157			20,518						(746	)
US 2 Year Note; March 2019				Long				119			25,267						173
US 5 Year Note; March 2019				Long				375			43,072						28
US Long Bond; March 2019				Long				185			27,137						1,381
US Ultra Bond; March 2019				Long				79			12,729						166
Total													$				1,111
Amounts in thousands except contracts.
Foreign Currency Contracts
													Unrealized Appreciation/(Depreciation)
Counterparty	Settlement Date			Currency to Accept							Currency to Deliver				Asset		Liability
Barclays Bank PLC		02/04/2019		$				6,106		GBP			4,690	$		— $	(45	)
Barclays Bank PLC		02/04/2019	GBP					4,690		$			6,129			22	—
Barclays Bank PLC		02/04/2019	CAD					6,600		$			5,000			23	—
Barclays Bank PLC		02/04/2019		$				4,015		CAD			5,300			—	(19	)
Barclays Bank PLC		02/04/2019	EUR					5,500		$			6,326			—	(31	)
Barclays Bank PLC		02/04/2019		$		26,109				EUR			22,700			127	—
Barclays Bank PLC		02/04/2019	JPY			155,500				$			1,391			37	—
Barclays Bank PLC		02/04/2019		$				1,391		JPY			155,500			—	(37	)
Barclays Bank PLC		02/04/2019		$				546		CHF			545			—	(2	)
Barclays Bank PLC		02/04/2019	CHF					545		$			546			2	—
Barclays Bank PLC		05/10/2019		$				5,544		GBP			4,220			—	(17	)
Barclays Bank PLC		05/10/2019	GBP					470		$			617			2	—
Barclays Bank PLC		05/10/2019		$				5,011		CAD			6,600			—	(24	)
Barclays Bank PLC		05/10/2019	CAD					5,300		$			4,024			19	—
Barclays Bank PLC		05/10/2019		$				551		CHF			545			—	(2	)
Barclays Bank PLC		05/10/2019	CHF					545		$			550			3	—
Goldman Sachs & Co		02/04/2019		$				5,058		CAD			6,600			35	—
Goldman Sachs & Co		02/04/2019	CAD					5,300		$			4,062			—	(28	)

See accompanying notes.

28

Schedule of Investments
Core Plus Bond Fund
January 31, 2019 (unaudited)
Foreign Currency Contracts (continued)
													Unrealized Appreciation/(Depreciation)
Counterparty	Settlement Date		Currency to Accept		Currency to Deliver								Asset		Liability
Goldman Sachs & Co	02/04/2019		$	6,282		EUR					5,500	$	— $		(13	)
Goldman Sachs & Co	02/04/2019		EUR	22,700 $							25,930		52		—
Goldman Sachs & Co	02/04/2019		$	1,419		JPY					155,500		—		(9	)
Goldman Sachs & Co	02/04/2019		JPY	155,500 $							1,419		9		—
Goldman Sachs & Co	02/04/2019		$	549		CHF					545		1		—
Goldman Sachs & Co	02/04/2019		CHF	545 $							549		—		(1	)
Goldman Sachs & Co	05/10/2019		EUR	5,500 $							6,334		12		—
Goldman Sachs & Co	05/10/2019		$	26,142		EUR					22,700		—		(49	)
Goldman Sachs & Co	05/10/2019		$	1,430		JPY					155,500		—		(9	)
Goldman Sachs & Co	05/10/2019		JPY	155,500 $							1,430		9		—
Total											$		353	$	(286	)
Amounts in thousands.
Exchange Cleared Credit Default Swaps
Buy Protection
	Implied Credit
	Spread as of		(Pay)/								Upfront		Unrealized
	January 31,		Receive Fixed	Payment			Notional		Payments/				Appreciation/
Reference Entity	2019	(a)	Rate	Frequency	Maturity Date			Amount	(Receipts)				(Depreciation)		Fair Value
CDX.NA.HY.31	N/A		(5.00)%	Quarterly	12/20/2023		$	52,293		$	(794	)$	(2,327	)$	(3,121	)
Total										$	(794	)$	(2,327	)$	(3,121	)
Amounts in thousands.

(a) Implied credit spreads, represented in absolute terms, used in determining the market value of credit default swap agreements on corporate issues or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

See accompanying notes.

29

Schedule of Investments
Diversified International Fund
January 31, 2019 (unaudited)

COMMON STOCKS - 95.88%	Shares Held    Value (000's)			COMMON STOCKS (continued)	Shares Held Value (000’s)
Aerospace & Defense - 1.77%				Distribution & Wholesale - 3.68%
CAE Inc	1,565,800 $		33,271	Ferguson PLC	1,256,723	$	84,154
Safran SA		856,900	112,587	ITOCHU Corp	5,822,300		106,805
Thales SA		458,215	50,674	Mitsubishi Corp	4,307,300		126,239
		$	196,532	Sumitomo Corp	5,822,100		90,147
Agriculture - 0.46%					$		407,345
Swedish Match AB	1,145,466		51,319	Diversified Financial Services - 1.73%
Apparel - 1.91%				Housing Development Finance Corp Ltd	2,092,219		56,696
Adidas AG		249,043	59,258	ORIX Corp	6,033,990		91,016
Kering SA		10,461	5,246	Shinhan Financial Group Co Ltd	1,142,172		44,177
LVMH Moet Hennessy Louis Vuitton SE		378,733	121,497		$		191,889
Moncler SpA		681,167	25,636	Electric - 1.94%
		$	211,637	Chubu Electric Power Co Inc	2,350,700		37,208
Automobile Manufacturers - 4.67%				Enel SpA	13,805,987		83,442
Ferrari NV		566,177	70,495	Iberdrola SA	11,339,089		93,723
Honda Motor Co Ltd	2,426,200		72,839		$		214,373
Isuzu Motors Ltd	3,044,000		45,280	Electronics - 0.83%
Kia Motors Corp	2,274,862		74,384	Hoya Corp	1,584,604		91,966
Maruti Suzuki India Ltd		673,018	63,026	Engineering & Construction - 2.10%
Suzuki Motor Corp		593,100	30,972	ACS Actividades de Construccion y Servicios SA	2,015,234		83,399
Toyota Motor Corp	2,593,400		159,624	ACS Actividades de Construccion y Servicios	1,827,452		1,003
		$	516,620	SA - Rights (a)
Banks - 11.06%				Larsen & Toubro Ltd	2,859,951		52,925
Banco do Brasil SA	3,211,300		45,697	Vinci SA	1,079,296		94,967
Bangkok Bank PCL	4,303,600		30,507		$		232,294
Bank Leumi Le-Israel BM	7,113,930		47,033	Entertainment - 0.29%
Credicorp Ltd		339,899	82,521	GVC Holdings PLC	3,658,375		32,237
DBS Group Holdings Ltd	3,427,400		61,085	Food - 4.80%
DNB ASA	4,700,260		83,426	Nestle India Ltd	148,648		24,068
Erste Group Bank AG	2,068,752		72,210	Nestle SA	2,874,409		250,602
HDFC Bank Ltd ADR		469,488	46,113	Seven & i Holdings Co Ltd	1,561,300		67,984
ING Groep NV	3,259,985		38,682	Tesco PLC	30,702,353		89,879
Krung Thai Bank PCL	71,181,700		45,209	Uni-President Enterprises Corp	28,142,000		66,688
Lloyds Banking Group PLC	135,705,741		103,457	X5 Retail Group NV	1,206,772		31,834
Macquarie Group Ltd	1,257,437		106,942		$		531,055
Mediobanca Banca di Credito Finanziario SpA	9,298,597		81,035	Food Service - 0.68%
Raiffeisen Bank International AG	1,843,417		48,763	Compass Group PLC	3,508,389		75,074
Swedbank AB	5,437,331		123,517
Toronto-Dominion Bank/The	2,688,800		151,430	Forest Products & Paper - 1.18%
United Overseas Bank Ltd	3,048,100		57,125	Mondi PLC	3,085,403		74,614
		$	1,224,752	Suzano Papel e Celulose SA	2,949,400		37,182
				UPM-Kymmene OYJ	652,258		18,943
Beverages - 2.36%					$		130,739
Coca-Cola Bottlers Japan Holdings Inc	1,487,700		45,953
Coca-Cola HBC AG (a)	1,474,699		49,563	Healthcare - Products - 1.34%
Diageo PLC	3,074,635		117,348	Carl Zeiss Meditec AG	431,963		39,206
Jiangsu Yanghe Brewery Joint-Stock Co Ltd	3,436,246		48,716	Lonza Group AG (a)	311,040		82,176
		$	261,580	Straumann Holding AG	36,907		26,795
Biotechnology - 1.05%					$		148,177
CSL Ltd		814,527	115,821	Healthcare - Services - 0.65%
Building Materials - 0.97%				ICON PLC (a)	514,750		72,003
Anhui Conch Cement Co Ltd	6,797,925		33,119	Home Builders - 0.80%
China National Building Material Co Ltd	62,268,000		49,690	Persimmon PLC	1,499,861		46,789
Rockwool International A/S		92,192	24,727	Taylor Wimpey PLC	19,321,867		41,894
		$	107,536		$		88,683
Chemicals - 0.96%				Home Furnishings - 1.59%
Nitto Denko Corp		691,900	39,137	Howden Joinery Group PLC	8,253,658		54,755
Nutrien Ltd	1,297,400		67,213	Sony Corp	2,423,500		121,434
		$	106,350		$		176,189
Commercial Services - 1.70%				Insurance - 6.42%
Ashtead Group PLC	1,624,339		41,201	ASR Nederland NV	1,279,811		53,980
Brambles Ltd	4,343,624		33,702	BB Seguridade Participacoes SA	6,369,250		54,251
CCR SA	9,337,800		38,116	Fairfax Financial Holdings Ltd	107,900		51,041
Wirecard AG		453,926	75,269	Hannover Rueck SE	662,555		95,629
		$	188,288	Legal & General Group PLC	27,091,196		92,297
				NN Group NV	2,060,006		86,988
Computers - 1.56%				Prudential PLC	5,239,342		102,461
Capgemini SE		310,220	34,259	Swiss Life Holding AG (a)	241,190		99,503
Logitech International SA	2,383,008		86,939	Tokio Marine Holdings Inc	1,534,600		75,143
Obic Co Ltd		544,200	51,573		$		711,293
		$	172,771

See accompanying notes.

30

Schedule of Investments
Diversified International Fund
January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held Value (000’s)		COMMON STOCKS (continued)			Shares Held Value (000’s)
Internet - 1.47%			Telecommunications - 4.33%
Tencent Holdings Ltd	3,654,832 $	162,693	Deutsche Telekom AG			4,425,226	$	71,958
Investment Companies - 1.40%			Nice Ltd ADR(a)			432,688		47,574
EXOR NV	867,676	55,472	Orange SA			3,956,575		61,368
Investor AB	2,274,997	100,058	SK Telecom Co Ltd			305,441		70,712
	$	155,530	SoftBank Group Corp			1,199,200		94,454
Iron & Steel - 0.51%			Telefonaktiebolaget LM Ericsson			9,541,215		85,045
POSCO	229,717	56,706	Telenor ASA			2,581,048		48,864
Machinery - Construction & Mining - 0.79%						$		479,975
Hitachi Ltd	1,647,000	51,812	Toys, Games & Hobbies - 0.62%
Komatsu Ltd	1,345,800	35,438	Nintendo Co Ltd			226,300		68,634
	$	87,250	Transportation - 1.37%
Machinery - Diversified - 0.28%			Canadian National Railway Co			1,816,448		151,584
Valmet OYJ	1,394,263	31,414	TOTAL COMMON STOCKS		$	10,617,059
Mining - 1.74%			INVESTMENT COMPANIES - 3.88%			Shares Held Value (000's)
Anglo American PLC	629,519	16,088	Money Market Funds - 3.88%
Glencore PLC (a)	18,090,251	73,561	Principal Government Money Market Fund			429,625,224		429,625
Rio Tinto Ltd	1,628,462	103,546	2.32%(b),(c)
	$	193,195	TOTAL INVESTMENT COMPANIES			$		429,625
Oil & Gas - 7.18%			PREFERRED STOCKS - 0.50%			Shares Held Value (000's)
BP PLC	24,005,982	163,988	Holding Companies - Diversified - 0.50%
China Petroleum & Chemical Corp	87,722,000	73,353	Itausa - Investimentos Itau SA 0.08%			14,949,589	$	55,374
Husky Energy Inc	2,934,500	34,818	TOTAL PREFERRED STOCKS			$		55,374
JXTG Holdings Inc	12,530,300	68,442	Total Investments		$	11,102,058
LUKOIL PJSC ADR	746,213	59,919	Other Assets and Liabilities -  (0.26)%					(28,764	)
Neste Oyj	1,072,745	98,285	TOTAL NET ASSETS - 100.00%		$	11,073,294
PTT PCL	52,668,000	82,701
Reliance Industries Ltd	7,207,251	124,845	(a)	Non-income producing security
Suncor Energy Inc	2,736,400	88,259	(b)	Affiliated Security. Security is either an affiliate (and registered under the
	$	794,610		Investment Company Act of 1940) or an affiliate as defined by the Investment
Pharmaceuticals - 4.82%				Company Act of 1940 (controls 5.0% or more of the outstanding voting
Novartis AG	1,847,241	161,266		shares of the security). Please see affiliated sub-schedule for transactional
Novo Nordisk A/S	2,124,358	99,560		information.
Roche Holding AG	833,160	221,650	(c)	Current yield shown is as of period end.
Teva Pharmaceutical Industries Ltd ADR(a)	2,571,813	51,051
	$	533,527
Private Equity - 2.95%
3i Group PLC	10,128,939	113,046
Brookfield Asset Management Inc	4,083,702	175,724
Intermediate Capital Group PLC	2,842,178	37,941
	$	326,711
Real Estate - 2.36%
CK Asset Holdings Ltd	6,943,500	58,456
LEG Immobilien AG	388,070	45,587
Vonovia SE	1,851,716	93,065
Wharf Real Estate Investment Co Ltd	9,343,000	63,915
	$	261,023
REITs - 0.41%
Dexus	5,413,746	45,330
Retail - 2.74%
Alimentation Couche-Tard Inc	2,617,946	142,219
ANTA Sports Products Ltd	7,186,000	37,173
Pan Pacific International Holdings Corp	611,800	35,577
Wal-Mart de Mexico SAB de CV	33,675,578	88,459
	$	303,428
Semiconductors - 3.56%
Samsung Electronics Co Ltd	4,702,384	196,062
Taiwan Semiconductor Manufacturing Co Ltd	26,645,544	197,656
	$	393,718
Software - 2.85%
Amadeus IT Group SA	1,205,065	87,630
Capcom Co Ltd	2,035,500	43,815
Dassault Systemes SE	530,947	66,544
Tech Mahindra Ltd	3,916,176	40,407
Ubisoft Entertainment SA (a)	865,523	76,812
	$	315,208

See accompanying notes.

31

 

Schedule of Investments
Diversified International Fund
January 31, 2019 (unaudited)
Portfolio Summary  (unaudited)
Country			Percent
Japan			14.93	%
United Kingdom			11.48	%
Switzerland			10.25	%
Canada			8.09	%
France			5.63	%
Germany			4.33	%
Korea, Republic Of			3.99	%
United States			3.88	%
India			3.70	%
China			3.66	%
Sweden			3.25	%
Australia			2.74	%
Spain			2.40	%
Taiwan, Province Of China			2.39	%
Italy			2.35	%
Netherlands			2.13	%
Brazil			2.08	%
Thailand			1.44	%
Finland			1.34	%
Israel			1.31	%
Norway			1.19	%
Denmark			1.12	%
Hong Kong			1.11	%
Austria			1.09	%
Singapore			1.07	%
Russian Federation			0.83	%
Mexico			0.80	%
Peru			0.74	%
Ireland			0.65	%
Isle of Man			0.29	%
Other Assets and Liabilities			(0.26	)%
TOTAL NET ASSETS			100.00	%
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value				Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$		269,817	$	1,016,164		$	856,356	$		429,625
	$		269,817	$	1,016,164		$	856,356	$		429,625
			Realized Gain/Loss					Realized Gain from		Change in Unrealized
		Income	on Investments			Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	904	$		— $			— $		—
	$	904	$		— $			— $		—
Amounts in thousands

See accompanying notes.

32

Schedule of Investments
Equity Income Fund
January 31, 2019 (unaudited)
COMMON STOCKS - 98.35%	Shares Held        Value (000's)				COMMON STOCKS (continued)	Shares Held  Value (000’s)
Aerospace & Defense - 0.46%					Miscellaneous Manufacturers - 2.02%
Boeing Co/The		82,640	$	31,868	3M Co		211,789	$	42,421
Airlines - 1.31%					Parker-Hannifin Corp		598,164		98,584
Delta Air Lines Inc	1,850,565			91,473			$		141,005
Apparel - 0.86%					Oil & Gas - 7.60%
VF Corp		714,724		60,158	Chevron Corp		627,666		71,962
Automobile Manufacturers - 1.64%					Cimarex Energy Co	1,086,830			81,882
PACCAR Inc	1,754,059			114,926	Exxon Mobil Corp		813,630		59,623
Automobile Parts & Equipment - 1.56%					Marathon Petroleum Corp	1,858,806			123,164
Magna International Inc	2,066,208			109,323	Occidental Petroleum Corp	1,036,449			69,214
					Royal Dutch Shell PLC - B shares ADR	1,996,862			125,403
Banks - 9.62%							$		531,248
Bank of Nova Scotia/The	2,384,382			135,767
JPMorgan Chase & Co	1,826,510			189,044	Pharmaceuticals - 8.20%
PNC Financial Services Group Inc/The	1,335,044			163,770	Johnson & Johnson		506,952		67,465
SunTrust Banks Inc		912,700		54,232	Merck & Co Inc	1,958,384			145,763
US Bancorp	2,539,955			129,944	Novartis AG ADR	1,035,311			90,611
		$		672,757	Pfizer Inc	2,851,454			121,044
					Roche Holding AG ADR	4,453,524			148,302
Beverages - 0.97%							$		573,185
Coca-Cola Co/The	1,409,336			67,831	Pipelines - 1.96%
Chemicals - 3.20%					Enterprise Products Partners LP	4,958,042			137,189
Air Products & Chemicals Inc		435,375		71,571
Albemarle Corp		497,341		40,150	Private Equity - 2.21%
DowDuPont Inc	1,182,094			63,609	KKR & Co Inc	6,897,806			154,856
PPG Industries Inc		459,024		48,400	REITs - 4.37%
		$		223,730	Alexandria Real Estate Equities Inc		314,430		41,413
Computers - 2.89%					Digital Realty Trust Inc	1,115,035			120,803
Accenture PLC - Class A		322,575		49,532	Host Hotels & Resorts Inc	1,509,118			27,255
Apple Inc		918,008		152,793	Simon Property Group Inc		637,919		116,178
		$		202,325			$		305,649
Diversified Financial Services - 4.09%					Retail - 3.37%
BlackRock Inc		318,932		132,382	Costco Wholesale Corp		547,729		117,559
Discover Financial Services	2,272,472			153,369	Starbucks Corp	1,736,910			118,353
		$		285,751			$		235,912
Electric - 7.25%					Semiconductors - 3.95%
Eversource Energy	1,426,650			99,024	Applied Materials Inc	1,926,995			75,307
NextEra Energy Inc		499,909		89,474	Maxim Integrated Products Inc		515,335		27,967
Sempra Energy		947,361		110,822	Microchip Technology Inc	1,303,500			104,762
WEC Energy Group Inc	1,363,364			99,566	Taiwan Semiconductor Manufacturing Co Ltd	1,816,000			68,318
Xcel Energy Inc	2,058,262			107,771	ADR
		$		506,657			$		276,354
Electronics - 1.05%					Software - 2.88%
Honeywell International Inc		513,348		73,732	Fidelity National Information Services Inc		665,536		69,569
					Microsoft Corp		755,358		78,882
Food - 4.13%					SAP SE ADR		513,152		53,070
Hormel Foods Corp	2,009,782			85,054			$		201,521
Kraft Heinz Co/The	1,159,584			55,730
Kroger Co/The	3,298,754			93,454	Telecommunications - 3.60%
Tyson Foods Inc		879,450		54,455	BCE Inc	2,799,213			121,766
		$		288,693	Verizon Communications Inc	2,366,654			130,308
							$		252,074
Healthcare - Products - 5.49%					Toys, Games & Hobbies - 2.24%
Abbott Laboratories	1,787,249			130,434
Becton Dickinson and Co		447,408		111,610	Hasbro Inc	1,728,896			156,569
Medtronic PLC	1,600,691			141,485	Transportation - 1.57%
		$		383,529	Union Pacific Corp		688,945		109,590
Healthcare - Services - 0.64%					TOTAL COMMON STOCKS		$		6,876,522
HCA Healthcare Inc		319,454		44,541	INVESTMENT COMPANIES - 1.53%	Shares Held   Value (000's)
Insurance - 6.61%					Money Market Funds - 1.53%
Allstate Corp/The	1,163,191			102,209	Principal Government Money Market Fund	106,907,658			106,908
Chubb Ltd	1,161,771			154,574	2.32%(a),(b)
					TOTAL INVESTMENT COMPANIES		$		106,908
Fidelity National Financial Inc	3,351,019			121,173	Total Investments		$		6,983,430
Swiss Re AG ADR	3,500,210			83,970	Other Assets and Liabilities -  0.12%				8,555
		$		461,926	TOTAL NET ASSETS - 100.00%		$		6,991,985
Machinery - Diversified - 1.18%
Deere & Co		502,222		82,364
Media - 1.43%
Walt Disney Co/The		894,778		99,786

See accompanying notes.

33

     Schedule of Investments Equity Income Fund January 31, 2019 (unaudited)

(a)	Affiliated Security. Security is either an affiliate (and registered under the				Portfolio Summary  (unaudited)
	Investment Company Act of 1940) or an affiliate as defined by the Investment				Sector						Percent
	Company Act of 1940 (controls 5.0% or more of the outstanding voting				Financial						26.90	%
	shares of the security). Please see affiliated sub-schedule for transactional				Consumer, Non-cyclical						19.43	%
	information.				Consumer, Cyclical						10.98	%
(b)	Current yield shown is as of period end.				Technology						9.72	%
					Energy						9.56	%
					Utilities						7.25	%
					Industrial						6.28	%
					Communications						5.03	%
					Basic Materials						3.20	%
					Investment Companies						1.53	%
					Other Assets and Liabilities						0.12	%
					TOTAL NET ASSETS						100.00	%
Affiliated Securities			October 31, 2018		Purchases			Sales		January 31, 2019
			Value			Cost		Proceeds			Value
Principal Government Money Market Fund 2.32%		$	97,178	$		257,665	$	247,935	$		106,908
		$	97,178	$		257,665	$	247,935	$		106,908
			Realized Gain/Loss					Realized Gain from		Change in Unrealized
			Income		on Investments	Capital Gain Distributions					Gain/Loss
Principal Government Money Market Fund 2.32%		$	541	$	— $			— $			—
		$	541	$	— $			— $			—
Amounts in thousands

See accompanying notes.

34

Schedule of Investments

Finisterre Unconstrained Emerging Markets Bond Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS - 88.83%	Amount (000's)		Value (000's)		BONDS (continued)	Amount (000’s)		Value (000’s)
Banks - 3.67%					Sovereign (continued)
HSBC Holdings PLC					Ecuador Government International Bond
6.25%, 12/31/2049(a),(b)	$	975	$	970	7.88%, 01/23/2028	$	1,200	$	1,064
USD Swap Rate NY 5 Year + 3.45%					Indonesia Treasury Bond
Yapi ve Kredi Bankasi AS					6.13%, 05/15/2028	IDR	8,165,000		506
13.88%, 12/31/2049(a),(b),(c)		400		419	8.38%, 03/15/2024	11,535,000			838
USD Swap Semi-Annual 5 Year + 11.25%					8.38%, 03/15/2034	13,000,000			920
		$		1,389	Iraq International Bond
Chemicals - 3.98%					6.75%, 03/09/2023	$	900		897
Braskem America Finance Co					Ivory Coast Government International Bond
7.13%, 07/22/2041		200		225	5.75%, 12/31/2032(e)		1,081		996
Braskem Netherlands Finance BV					Kenya Government International Bond
4.50%, 01/10/2028		575		560	7.25%, 02/28/2028		700		683
SASOL Financing USA LLC					Malaysia Government Bond
5.88%, 03/27/2024		700		722	3.73%, 06/15/2028	MYR	6,300		1,497
		$		1,507	Nigeria Government International Bond
Commercial Services - 2.64%					6.50%, 11/28/2027	$	800		764
Atento Luxco 1 SA					7.14%, 02/23/2030		350		336
6.13%, 08/10/2022		1,025		1,002	Peru Government Bond
Diversified Financial Services - 1.97%					6.15%, 08/12/2032(c)	PEN	2,800		853
Unifin Financiera SAB de CV SOFOM ENR					Peruvian Government International Bond
7.25%, 09/27/2023		775		748	6.35%, 08/12/2028(c)		1,250		396
					6.35%, 08/12/2028		2,175		689
Food - 4.44%					Qatar Government International Bond
JBS Investments GmbH					5.10%, 04/23/2048	$	1,150		1,234
6.25%, 02/05/2023		980		985	Republic of South Africa Government Bond
Marfrig Holdings Europe BV					7.00%, 02/28/2031	ZAR	12,000		761
8.00%, 06/08/2023		675		696	Russian Federal Bond - OFZ
		$		1,681	7.05%, 01/19/2028	RUB	78,600		1,132
Media - 1.00%					Turkey Government International Bond
Altice Financing SA					7.63%, 04/26/2029	$	1,000		1,050
7.50%, 05/15/2026(c)		125		118	Ukraine Government International Bond
7.50%, 05/15/2026		275		261	0.00%, 05/31/2040(d),(e)		1,030		628
		$		379			$		20,066
Oil & Gas - 6.51%					Supranational Bank - 1.80%
Odebrecht Drilling Norbe VIII/IX Ltd					Banque Ouest Africaine de Developpement
6.35%, 12/01/2021		394		382	5.00%, 07/27/2027(c)		275		269
Odebrecht Offshore Drilling Finance Ltd					5.00%, 07/27/2027		425		415
6.72%, 12/01/2022		65		61			$		684
Petrobras Global Finance BV					Telecommunications - 5.32%
4.38%, 05/20/2023		475		474	Bharti Airtel International Netherlands BV
5.75%, 02/01/2029		675		662	5.35%, 05/20/2024		845		849
Tengizchevroil Finance Co International Ltd					C&W Senior Financing DAC
4.00%, 08/15/2026		925		890	7.50%, 10/15/2026(c)		400		397
		$		2,469	7.50%, 10/15/2026		200		197
Pipelines - 1.83%					Digicel Ltd
Southern Gas Corridor CJSC					6.75%, 03/01/2023		700		572
6.88%, 03/24/2026		625		694			$		2,015
Real Estate - 2.73%					TOTAL BONDS		$		33,669
Country Garden Holdings Co Ltd						Principal
5.13%, 01/17/2025		545		486	CONVERTIBLE BONDS - 3.48%	Amount (000's)		Value (000's)
8.00%, 01/27/2024		350		354	Investment Companies - 3.48%
Wanda Properties International Co Ltd					Aabar Investments PJSC
7.25%, 01/29/2024		200		195	0.50%, 03/27/2020	EUR	500		539
		$		1,035	1.00%, 03/27/2022		800		779
Sovereign - 52.94%							$		1,318
Argentina Treasury Bill					TOTAL CONVERTIBLE BONDS		$		1,318
0.00%, 06/28/2019(d)	ARS	29,000		824	U.S. GOVERNMENT & GOVERNMENT	Principal
Argentine Republic Government International					AGENCY OBLIGATIONS - 5.79%	Amount (000's)		Value (000's)
Bond					U.S. Treasury Bill - 5.79%
5.88%, 01/11/2028	$	500		398	2.36%, 03/14/2019(f)	$	2,200	$	2,194
6.63%, 07/06/2028		625		514	TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY
Brazil Notas do Tesouro Nacional Serie F					OBLIGATIONS		$		2,194
10.00%, 01/01/2029	BRL	3,900		1,146	Total Investments		$		37,181
Costa Rica Government International Bond					Other Assets and Liabilities -  1.90%				720
4.37%, 05/22/2019	$	850		844	TOTAL NET ASSETS - 100.00%		$		37,901
Croatia Government International Bond
6.63%, 07/14/2020		1,050		1,096

See accompanying notes.

35

Schedule of Investments

Finisterre Unconstrained Emerging Markets Bond Fund January 31, 2019 (unaudited)

(a)	Perpetual security. Perpetual securities pay an indefinite stream of interest,					Portfolio Summary  (unaudited)
	but they may be called by the issuer at an earlier date. Date shown, if any,				Country							Percent
	reflects the next call date or final legal maturity date. Rate shown is as of				Netherlands							8.55	%
	period end.				United States							8.29	%
(b)	Rate shown is as of period end. The rate may be a variable or floating rate or				Indonesia							5.97	%
	a fixed rate which may convert to a variable or floating rate in the future.				Peru							5.11	%
(c)	Security exempt from registration under Rule 144A of the Securities Act of				Argentina							4.58	%
	1933. These securities may be resold in transactions exempt from registration,				Malaysia							3.95	%
	normally to qualified institutional buyers. At the end of the period, the value of				Turkey							3.88	%
	these securities totaled $2,452 or 6.47% of net assets.				Bermuda							3.86	%
(d)	Non-income producing security				Luxembourg							3.64	%
(e)	Certain variable rate securities are not based on a published reference rate				United Arab Emirates							3.48	%
	and spread but are determined by the issuer or agent and are based on current				Cayman Islands							3.38	%
	market conditions.  These securities do not indicate a reference rate and				Qatar							3.25	%
	spread in their description. Rate shown is the rate in effect as of period end.				Brazil							3.02	%
(f)	Rate shown is the discount rate of the original purchase.				Russian Federation							2.99	%
					Nigeria							2.90	%
					Croatia							2.89	%
					Ecuador							2.81	%
					Cote d'Ivoire							2.63	%
					Austria							2.60	%
					United Kingdom							2.56	%
					Iraq							2.37	%
					Costa Rica							2.23	%
					South Africa							2.01	%
					Mexico							1.97	%
					Azerbaijan							1.83	%
					Supranational							1.80	%
					Kenya							1.80	%
					Ukraine							1.66	%
					Ireland							1.57	%
					Virgin Islands, British							0.52	%
					Other Assets and Liabilities							1.90	%
					TOTAL NET ASSETS							100.00	%
Foreign Currency Contracts
								Unrealized Appreciation/(Depreciation)
Counterparty		Settlement Date		Currency to Accept		Currency to Deliver				Asset		Liability
Bank of New York Mellon		02/05/2019	BRL		4,209	$		1,156	$	— $		(2	)
Citigroup Inc		02/28/2019	COP		2,850,000	$		912		6		—
Goldman Sachs & Co		02/13/2019	EUR		398	$		457		—		(2	)
Goldman Sachs & Co		02/13/2019		$	103		EUR	90		—		—
HSBC Securities Inc		02/13/2019		$	1,636		EUR	1,436		—		(8	)
HSBC Securities Inc		02/28/2019	BRL		5,700	$		1,542		19		—
HSBC Securities Inc		02/28/2019		$	1,150		BRL	4,200		—		—
HSBC Securities Inc		02/28/2019	CLP		750,000	$		1,134		10		—
HSBC Securities Inc		02/28/2019	CNH		7,600	$		1,131		2		—
HSBC Securities Inc		02/28/2019		$	1,120		CNH	7,600		—		(13	)
HSBC Securities Inc		02/28/2019	COP		20,000	$		6		—		—
HSBC Securities Inc		02/28/2019		$	1,102		EUR	965		—		(4	)
HSBC Securities Inc		02/28/2019	EUR		965	$		1,115		—		(9	)
HSBC Securities Inc		02/28/2019		$	1,115		HUF	310,000		—		(11	)
HSBC Securities Inc		02/28/2019	HUF		310,000	$		1,110		16		—
HSBC Securities Inc		02/28/2019		$	914		MXN	17,500		2		—
HSBC Securities Inc		02/28/2019	MXN		17,500	$		919		—		(7	)
HSBC Securities Inc		02/28/2019	ZAR		10,500	$		753		37		—
HSBC Securities Inc		02/28/2019		$	1,494		ZAR	20,800		—		(71	)
HSBC Securities Inc		02/28/2019	KRW		1,680,000	$		1,497		15		—
HSBC Securities Inc		02/28/2019		$	1,062		TRY	6,000		—		(87	)
HSBC Securities Inc		02/28/2019	TRY		6,000	$		1,091		58		—
JPMorgan Chase		02/13/2019		$	31		EUR	27		—		—
JPMorgan Chase		02/28/2019		$	1,099		IDR	15,600,000		—		(18	)
Total								$		165	$	(232	)
Amounts in thousands.

See accompanying notes.

36

Schedule of Investments
Finisterre Unconstrained Emerging Markets Bond Fund
January 31, 2019 (unaudited)
Credit Default Swaps
Buy Protection
		Implied Credit
		Spread as of		(Pay)/								Upfront		Unrealized
		January 31,		Receive Fixed		Payment		Notional		Payments/				Appreciation/		Fair Value
Counterparty	Reference Entity	2019	(a)	Rate		Frequency	Maturity Date		Amount	(Receipts)				(Depreciation)		Asset ----Liability
Barclays Bank PLC	ITRAXX.ASIA	0.80	%	(1.00	)%	Quarterly	12/20/2023	$	3,275		$	(20	)$	(10	)$	— $	(30	)
Barclays Bank PLC	ITRAXX.ASIA	0.80	%	(1.00	)%	Quarterly	12/20/2023		200			—		(2	)	—	(2	)
HSBC Securities Inc	Saudi Government	0.89	%	(1.00	)%	Quarterly	12/20/2023		275			1		(2	)	—	(1	)
	International Bond,
	2.38%, 10/26/2021
JPMorgan Chase	Saudi Government	0.89	%	(1.00	)%	Quarterly	12/20/2023		1,125			1		(7	)	—	(6	)
	International Bond,
	2.38%, 10/26/2021
Total										$		(18	)$	(21	)$	— $	(39	)
Amounts in thousands.

(a) Implied credit spreads, represented in absolute terms, used in determining the market value of credit default swap agreements on corporate issues or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

Total Return Swaps

Value and

Unrealized

Upfront

Appreciation/

Pay/Receive

Payment

Expiration

Notional

Payments/

(Depreciation)

Counterparty

Reference Entity

Contracts

Positive Return Financing Rate

Frequency

Date

Amount

(Receipts)

Asset----Liability

HSBC Securities Inc Egypt Treasury Bill,

6,491,741

Receive

3 Month USD

Quarterly

04/19/2019

$

350

$

— $

5

$

—

0.00%, 04/16/2019

LIBOR

HSBC Securities Inc Egypt Treasury Bill,

17,000,000

Receive

3 Month USD

Quarterly

04/24/2019

904

—

22

—

0.00%, 04/23/2019

LIBOR

HSBC Securities Inc Egypt Treasury Bill,

7,000,000

Receive

3 Month USD

Quarterly

04/17/2019

373

—

9

—

0.00%, 04/16/2019

LIBOR

HSBC Securities Inc Nigeria Treasury Bill,

450,000,000

Receive

3 Month USD

Quarterly

10/04/2019

1,121

—

—

(24

)

0.00%, 10/03/2019

LIBOR + 0.75%

Total

$

— $

36

$

(24

)

Amounts in thousands except contracts

See accompanying notes.

37

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

COMMON STOCKS - 15.62%	Shares Held    Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Aerospace & Defense - 0.04%					Biotechnology - 0.07%
CAE Inc		46,700	$	992	Amgen Inc		14,962	$	2,799
Meggitt PLC		116,996		793	Biogen Inc (a)		4,980		1,662
TransDigm Group Inc (a)		2,855		1,116	Loxo Oncology Inc (a)		1,908		448
		$		2,901			$		4,909
Agriculture - 0.05%					Building Materials - 0.10%
Philip Morris International Inc		51,218		3,929	Anhui Conch Cement Co Ltd		181,000		987
Airlines - 0.02%					Buzzi Unicem SpA		41,978		802
Delta Air Lines Inc		29,300		1,448	China National Building Material Co Ltd	1,370,000			1,093
Apparel - 0.06%					Ibstock PLC (b)		295,843		942
Capri Holdings Ltd (a)		43,262		1,838	Masco Corp		27,273		884
Fila Korea Ltd		21,824		938	Summit Materials Inc (a)		65,251		996
Moncler SpA		32,324		1,217	US Concrete Inc (a)		47,345		1,686
Ralph Lauren Corp		1,967		228	Xinyi Glass Holdings Ltd		130,000		158
		$		4,221			$		7,548
Automobile Manufacturers - 0.16%					Chemicals - 0.12%
Guangzhou Automobile Group Co Ltd		960,000		1,043	Cabot Corp		17,008		797
Honda Motor Co Ltd		103,600		3,110	Denka Co Ltd		34,700		1,116
Hyundai Motor Co		1,863		217	Eastman Chemical Co		17,834		1,438
Kia Motors Corp		67,349		2,203	LG Chem Ltd		1,560		518
Toyota Motor Corp		95,700		5,890	LyondellBasell Industries NV		20,084		1,747
		$		12,463	Nutrien Ltd		42,700		2,212
Automobile Parts & Equipment - 0.06%					Sumitomo Bakelite Co Ltd		28,800		1,074
Dana Inc		46,656		822			$		8,902
Denso Corp		14,700		676	Coal - 0.04%
FCC Co Ltd		28,000		712	China Shenhua Energy Co Ltd		188,500		480
Tower International Inc		31,196		907	Foresight Energy LP		695,156		2,294
Weichai Power Co Ltd	1,086,000			1,466			$		2,774
		$		4,583	Commercial Services - 0.09%
Banks - 0.73%					Ashtead Group PLC		33,153		841
Agricultural Bank of China Ltd	2,719,000			1,287	Brambles Ltd		208,714		1,619
Bank Leumi Le-Israel BM		213,888		1,414	CCR SA		139,700		570
Bank of America Corp		98,464		2,803	Cengage Learning Holdings II Inc (a),(d)		34,465		129
Cathay General Bancorp		23,435		870	H&R Block Inc		75,709		1,786
CIMB Group Holdings Bhd		393,300		541	K12 Inc (a)		27,372		863
Citizens Financial Group Inc		26,788		909	QinetiQ Group PLC		128,636		512
Comerica Inc		11,653		918	Sixt SE		8,130		740
Credicorp Ltd		2,145		521			$		7,060
Cullen/Frost Bankers Inc		10,718		1,043	Computers - 0.12%
DNB ASA		104,584		1,856	Appen Ltd		64,835		759
Erste Group Bank AG		50,526		1,764	CyberArk Software Ltd (a)		8,589		754
ICICI Bank Ltd ADR		42,948		439	Infosys Ltd ADR		410,150		4,429
JPMorgan Chase & Co		69,772		7,221	Obic Co Ltd		6,200		588
KeyCorp		184,659		3,041	Perspecta Inc		21,928		440
Lloyds Banking Group PLC	5,369,359			4,093	Western Digital Corp		47,753		2,148
Macquarie Group Ltd		37,142		3,159			$		9,118
Malayan Banking Bhd		236,300		551	Distribution & Wholesale - 0.26%
Mediobanca Banca di Credito Finanziario SpA		317,358		2,766	ATD New Holdings Inc (a),(c),(e)		385,347		8,250
OFG Bancorp		49,449		958	Fastenal Co		16,867		1,020
PacWest Bancorp		21,548		832	HD Supply Holdings Inc (a)		35,675		1,496
Paragon Banking Group PLC		147,241		802	KAR Auction Services Inc		30,627		1,593
Postal Savings Bank of China Co Ltd (b)	1,680,000			945	Mitsubishi Corp		112,800		3,306
Regions Financial Corp		233,220		3,538	Sumitomo Corp		288,200		4,462
Resona Holdings Inc		111,800		565			$		20,127
TCF Financial Corp		48,765		1,081	Diversified Financial Services - 0.14%
Toronto-Dominion Bank/The		47,900		2,698	Aareal Bank AG		9,082		294
Union Bankshares Corp		27,358		863	Aruhi Corp		44,900		953
United Overseas Bank Ltd		103,200		1,934	Burford Capital Ltd		57,779		1,395
Wells Fargo & Co		45,611		2,231	Hana Financial Group Inc		53,795		1,935
Woori Bank (c)		38,946		518	LPL Financial Holdings Inc		25,921		1,824
Zions Bancorp NA		84,888		4,040	Mebuki Financial Group Inc		201,500		565
		$		56,201	ORIX Corp		90,400		1,364
Beverages - 0.07%					Piper Jaffray Cos		15,781		1,089
Coca-Cola Co/The		28,267		1,361	Shinhan Financial Group Co Ltd		35,406		1,369
Coca-Cola HBC AG (a)		45,394		1,526			$		10,788
Molson Coors Brewing Co		30,917		2,059	Electric - 1.90%
		$		4,946	Ameren Corp		15,601		1,082
					CenterPoint Energy Inc		34,140		1,056
					China Longyuan Power Group Corp Ltd	1,541,000			1,154

See accompanying notes.

38

Schedule of Investments
Global Diversified Income Fund
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Electric (continued)					Home Builders - 0.04%
Clearway Energy Inc - Class C	1,086,420		$	16,394	Persimmon PLC		37,390	$	1,166
CMS Energy Corp		158,016		8,239	PulteGroup Inc		37,089		1,032
Dominion Energy Inc		87,250		6,128	Toll Brothers Inc		24,534		906
DTE Energy Co		189,768		22,345			$		3,104
Entergy Corp		61,295		5,467	Home Furnishings - 0.02%
Eversource Energy		135,700		9,419	Haier Electronics Group Co Ltd		163,000		468
FirstEnergy Corp		140,026		5,489	LG Electronics Inc		18,195		1,092
Fortis Inc/Canada		635,000		22,646	Targus Group International Inc (a),(c),(d),(e)		75,880		69
Hera SpA		133,627		452			$		1,629
Infraestructura Energetica Nova SAB de CV		170,000		667	Insurance - 0.42%
NextEra Energy Inc		66,000		11,813	Allstate Corp/The		35,289		3,101
Portland General Electric Co		51,612		2,494	American Financial Group Inc/OH		41,690		3,977
Public Service Enterprise Group Inc		175,000		9,546	Arthur J Gallagher & Co		11,967		894
Sempra Energy		140,000		16,377	ASR Nederland NV		77,613		3,274
WEC Energy Group Inc		62,500		4,564	Athene Holding Ltd (a)		69,968		3,001
		$		145,332	Fidelity National Financial Inc		38,025		1,375
Electrical Components & Equipment - 0.02%					Hanover Insurance Group Inc/The		7,553		861
Delta Electronics Inc		219,000		1,094	Legal & General Group PLC	1,063,087			3,622
Electronics - 0.05%					National General Holdings Corp		46,742		1,129
Honeywell International Inc		19,194		2,757	NN Group NV		47,555		2,008
Mycronic AB		55,108		705	Prudential Financial Inc		31,864		2,936
		$		3,462	Swiss Life Holding AG (a)		10,300		4,249
Energy - Alternate Sources - 0.34%					Tokio Marine Holdings Inc		37,000		1,812
NextEra Energy Partners LP		653,185		26,232			$		32,239
Engineering & Construction - 0.11%					Internet - 0.02%
ACS Actividades de Construccion y Servicios SA		65,465		2,709	VeriSign Inc (a)		9,467		1,602
ACS Actividades de Construccion y Servicios		65,465		36	Iron & Steel - 0.36%
SA - Rights (a)					Material Sciences Corp - Warrants (a),(c),(d),(e)	1,131,541			5,047
Badger Daylighting Ltd		36,200		963	POSCO		6,723		1,660
China Communications Services Corp Ltd	1,640,000			1,540	Specialty Steel Holdings, Inc. (a),(c),(e)		87		20,603
China Railway Construction Corp Ltd	1,081,000			1,501	Steel Dynamics Inc		10,532		385
Eiffage SA		4,928		462			$		27,695
Kyowa Exeo Corp		36,900		907	Leisure Products & Services - 0.03%
Kyudenko Corp		13,300		478	Norwegian Cruise Line Holdings Ltd (a)		33,122		1,703
		$		8,596	Planet Fitness Inc (a)		12,655		733
Entertainment - 0.02%							$		2,436
GVC Holdings PLC		208,933		1,841	Lodging - 0.15%
Food - 0.07%					City Developments Ltd		258,900		1,772
General Mills Inc		56,909		2,529	Extended Stay America Inc		300,256		5,134
J Sainsbury PLC		424,147		1,589	Hilton Grand Vacations Inc (a)		38,207		1,160
Sonae SGPS SA		425,789		444	Hilton Worldwide Holdings Inc		19,630		1,462
WH Group Ltd (b)		611,500		524	Las Vegas Sands Corp		37,200		2,171
		$		5,086			$		11,699
Forest Products & Paper - 0.05%					Machinery - Construction & Mining - 0.02%
Interfor Corp (a)		44,032		600	Oshkosh Corp		6,550		492
Mondi PLC		76,936		1,861	United Tractors Tbk PT		602,700		1,111
UPM-Kymmene OYJ		56,638		1,645			$		1,603
		$		4,106	Machinery - Diversified - 0.06%
Gas - 0.67%					Deutz AG		56,202		400
Atmos Energy Corp		4,555		445	Gates Industrial Corp PLC (a)		60,299		899
NiSource Inc		783,902		21,385	Roper Technologies Inc		1,779		504
South Jersey Industries Inc		679,811		20,245	Sumitomo Heavy Industries Ltd		43,300		1,469
Southwest Gas Holdings Inc		117,578		9,208	Valmet OYJ		66,336		1,495
		$		51,283			$		4,767
Hand & Machine Tools - 0.01%					Media - 1.03%
Rhi Magnesita NV		10,643		596	Altice USA Inc	1,300,000			25,532
Healthcare - Products - 0.02%					CBS Corp		31,599		1,563
Carl Zeiss Meditec AG		10,982		997	Charter Communications Inc (a)		86,235		28,548
STERIS PLC		3,809		434	Cogeco Communications Inc		279,700		15,946
		$		1,431	Comcast Corp - Class A		127,847		4,675
Healthcare - Services - 0.01%					Viacom Inc - B Shares		74,746		2,199
Encompass Health Corp		6,597		441			$		78,463
Quest Diagnostics Inc		6,518		569	Mining - 0.40%
		$		1,010	Anglo American PLC		100,803		2,576
Holding Companies - Diversified - 0.00%					BHP Group PLC		215,182		4,808
Seven Group Holdings Ltd		25,380		293	Lundin Mining Corp		318,700		1,455
					Northern Star Resources Ltd		125,248		801
					Real Alloy Holding Inc (a),(c),(e)		362		13,697

See accompanying notes.

39

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held       Value (000’s)				COMMON STOCKS (continued)	Shares Held    Value (000’s)
Mining (continued)					Real Estate (continued)
Rio Tinto PLC		109,046	$	6,033	Leopalace21 Corp		738,600	$	3,499
Teck Resources Ltd		48,000		1,169	Mitsubishi Estate Co Ltd		260,900		4,621
		$		30,539	Mitsui Fudosan Co Ltd		241,470		5,866
Office & Business Equipment - 0.02%					New World Development Co Ltd	3,038,580			4,792
Konica Minolta Inc		144,800		1,458	Nexity SA		9,823		459
Oil & Gas - 1.36%					Propertylink Group	2,784,180			2,351
Aker BP ASA		28,930		964	Propnex Ltd (a)		779,630		299
Beach Energy Ltd		720,832		948	Shimao Property Holdings Ltd		394,500		1,123
BP PLC		685,773		4,685	Sun Hung Kai Properties Ltd		184,000		3,086
BP PLC ADR		250,000		10,280	Sunac China Holdings Ltd		337,000		1,342
Chaparral Energy Inc - A Shares (a)		308,027		2,369	TAG Immobilien AG		21,193		536
Chevron Corp		144,292		16,543	Times China Holdings Ltd		611,000		800
China Petroleum & Chemical Corp	1,652,000			1,381	TLG Immobilien AG		55,456		1,703
CNOOC Ltd		798,000		1,334	Vonovia SE		8,753		440
ConocoPhillips		59,974		4,060	Wihlborgs Fastigheter AB		65,439		854
DCC PLC		8,862		725			$		54,642
EOG Resources Inc		100,000		9,920	REITs - 3.59%
Exxon Mobil Corp		49,364		3,617	AIMS AMP Capital Industrial REIT		512,590		526
Frontera Energy Corp		71,984		645	Alexandria Real Estate Equities Inc		25,667		3,381
Helmerich & Payne Inc		13,988		783	Altarea SCA		4,113		851
Husky Energy Inc		112,300		1,332	American Homes 4 Rent		153,040		3,384
LUKOIL PJSC ADR		22,505		1,807	Americold Realty Trust		37,824		1,109
Marathon Oil Corp		64,458		1,018	Apartment Investment & Management Co		59,616		2,952
Marathon Petroleum Corp		26,557		1,760	Arena REIT		651,741		1,274
Milagro Oil & Gas Inc (a),(c),(d),(e)		1,874		193	AvalonBay Communities Inc		34,940		6,741
Parsley Energy Inc (a)		24,990		464	Blackstone Mortgage Trust Inc		31,942		1,102
Pioneer Natural Resources Co		71,000		10,105	Brandywine Realty Trust		41,303		622
PTT PCL	1,374,600			2,158	Camden Property Trust		4,623		448
Royal Dutch Shell PLC ADR		220,000		13,581	CapitaLand Commercial Trust		833,200		1,166
Royal Dutch Shell PLC - A Shares		70,000		2,170	CapitaLand Retail China Trust		611,720		682
Royal Dutch Shell PLC - B Shares		177,058		5,497	CareTrust REIT Inc		50,192		1,103
TORC Oil & Gas Ltd		136,000		489	Champion REIT		986,090		750
TOTAL SA		60,866		3,337	Charter Hall Group		129,027		773
Valero Energy Corp		21,043		1,848	City Office REIT Inc		341,445		3,947
		$		104,013	CoreSite Realty Corp		147,500		14,572
Packaging & Containers - 0.02%					Corporate Office Properties Trust		92,240		2,277
Westrock Co		44,863		1,826	Covivio		21,674		2,215
Pharmaceuticals - 0.31%					Cromwell Property Group	4,376,526			3,377
Hypera SA		52,400		457	Crown Castle International Corp		22,240		2,603
Johnson & Johnson		55,025		7,323	CubeSmart		107,490		3,327
Merck & Co Inc		68,732		5,116	CyrusOne Inc		215,000		11,653
Pfizer Inc		176,536		7,494	Daiwa Office Investment Corp		139		930
Roche Holding AG		9,736		2,590	Dexus		248,645		2,082
Towa Pharmaceutical Co Ltd		14,300		1,005	Dream Global Real Estate Investment Trust		84,000		829
		$		23,985	Dream Industrial Real Estate Investment Trust		505,530		4,159
					Duke Realty Corp		33,706		986
Pipelines - 0.69%					EPR Properties		52,444		3,832
Enterprise Products Partners LP		438,300		12,128	Equinix Inc		42,413		16,711
ONEOK Inc		132,341		8,497	Essential Properties Realty Trust Inc		537,506		8,546
Targa Resources Corp		271,533		11,679	Essex Property Trust Inc		12,604		3,418
Williams Cos Inc/The		770,370		20,746	Far East Hospitality Trust	2,120,130			1,048
		$		53,050	Frasers Logistics & Industrial Trust	1,005,575			809
Private Equity - 0.03%					Gecina SA		12,231		1,797
Brookfield Asset Management Inc		42,300		1,820	Goodman Group		356,011		3,030
Intermediate Capital Group PLC		53,394		713	HCP Inc		40,884		1,289
		$		2,533	Healthcare Trust of America Inc		124,292		3,532
Real Estate - 0.71%					Highwoods Properties Inc		17,535		777
ADO Properties SA (b)		37,000		2,221	Hudson Pacific Properties Inc		46,952		1,525
APAC Realty Ltd		815,620		297	Independence Realty Trust Inc		670,726		7,009
Aroundtown SA		363,004		3,211	Industrial & Infrastructure Fund Investment Corp		740		791
Atrium European Real Estate Ltd (a)		329,755		1,273	Industrial Logistics Properties Trust		243,558		5,234
CA Immobilien Anlagen AG		20,907		748	InfraREIT Inc		374,763		7,907
Castellum AB		105,958		2,009	Inmobiliaria Colonial Socimi SA		165,848		1,697
CK Asset Holdings Ltd		188,500		1,587	InterRent Real Estate Investment Trust		55,902		571
Deutsche Wohnen SE		89,552		4,474	Invincible Investment Corp		3,099		1,349
Echo Investment SA		421,170		388	Invitation Homes Inc		247,436		5,565
Entra ASA (b)		70,294		1,019	Irish Residential Properties REIT PLC		412,445		708
Fabege AB		72,166		1,053	Japan Hotel REIT Investment Corp		5,109		3,919
LEG Immobilien AG		39,081		4,591	Japan Rental Housing Investments Inc		752		591

See accompanying notes.

40

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held        Value (000’s)				COMMON STOCKS (continued)	Shares Held    Value (000’s)
REITs (continued)					Software (continued)
Kenedix Office Investment Corp		172	$	1,181	Synopsys Inc (a)		17,004	$	1,587
Kenedix Residential Next Investment Corp		226		374	TIS Inc		12,400		558
Kenedix Retail REIT Corp		508		1,210			$		8,706
Kilroy Realty Corp		25,626		1,806	Storage & Warehousing - 0.03%
Klepierre SA		68,875		2,360	Safestore Holdings PLC		275,917		2,088
Liberty Property Trust		94,773		4,468	Telecommunications - 0.53%
Link REIT		462,900		5,088	AT&T Inc		67,341		2,024
LondonMetric Property PLC		941,018		2,318	CenturyLink Inc		600,000		9,192
Macerich Co/The		34,672		1,600	China Mobile Ltd		182,000		1,914
Macquarie Mexico Real Estate Management SA	1,503,750			1,637	Cisco Systems Inc		147,673		6,984
de CV (a),(b)					Deutsche Telekom AG		134,865		2,193
Mapletree Logistics Trust	2,360,330			2,405	HKT Trust & HKT Ltd		634,000		935
MCUBS MidCity Investment Corp		6,509		5,497	Motorola Solutions Inc		11,627		1,359
Merlin Properties Socimi SA		309,841		4,157	Service Stream Ltd	1,295,936			1,825
Mitsui Fudosan Logistics Park Inc (a)		340		1,080	Spark New Zealand Ltd		459,685		1,292
New Residential Investment Corp		248,044		4,211	Telstra Corp Ltd		212,689		482
NewRiver REIT PLC		587,369		1,702	TELUS Corp		45,200		1,583
NexPoint Residential Trust Inc		25,249		945	TELUS Corp		140,000		4,904
Park Hotels & Resorts Inc		137,476		4,134	Verizon Communications Inc		105,619		5,815
Pebblebrook Hotel Trust		14,159		454			$		40,502
Physicians Realty Trust		242,469		4,391	Transportation - 0.02%
PLA Administradora Industrial S de RL de CV		821,435		1,168	Sankyu Inc		25,800		1,258
Primary Health Properties PLC		325,483		492
Prologis Inc		109,456		7,570	Water - 0.01%
Segro PLC		277,600		2,360	Pennon Group PLC		47,358		474
Sekisui House Reit Inc		1,552		1,088	TOTAL COMMON STOCKS		$		1,195,988
Simon Property Group Inc		25,531		4,650	INVESTMENT COMPANIES - 4.58%	Shares Held   Value (000's)
SITE Centers Corp		66,436		868	Exchange-Traded Funds - 0.01%
Spirit Realty Capital Inc		108,401		4,305	iShares iBoxx $ Investment Grade Corporate		12,500		1,458
STAG Industrial Inc		57,376		1,582	Bond ETF
STORE Capital Corp		48,717		1,575	Money Market Funds - 4.57%
Sun Communities Inc		33,548		3,687	Principal Government Money Market Fund	349,640,999			349,641
Sunstone Hotel Investors Inc		61,093		874	2.32%(f),(g)
Tanger Factory Outlet Centers Inc		169,878		3,865	TOTAL INVESTMENT COMPANIES		$		351,099
Taubman Centers Inc		25,613		1,276	CONVERTIBLE PREFERRED STOCKS
Two Harbors Investment Corp		151,009		2,203	- 0.07%	Shares Held   Value (000's)
UNITE Group PLC/The		95,375		1,139	Banks - 0.07%
Uniti Group Inc		768,635		15,303	Wells Fargo & Co 7.50% (h)		3,971	$	5,092
VICI Properties Inc (d)		105,746		2,277	TOTAL CONVERTIBLE PREFERRED STOCKS		$		5,092
Vicinity Centres		806,864		1,536	PREFERRED STOCKS - 0.81%	Shares Held   Value (000's)
Weyerhaeuser Co		96,356		2,528	Banks - 0.29%
WPT Industrial Real Estate Investment Trust		157,641		2,240	AgriBank FCB 6.88%, 01/01/2024 (h)		33,000		3,432
		$		275,080	3 Month USD LIBOR + 4.23%
Retail - 0.12%					Banco do Estado do Rio Grande do Sul SA		96,959		625
Advance Auto Parts Inc		4,309		686	0.05%
American Eagle Outfitters Inc		35,470		749	Citigroup Inc 6.88%, 11/15/2023 (h)		78,695		2,046
Best Buy Co Inc		6,406		380	3 Month USD LIBOR + 4.13%
Collins Foods Ltd		184,572		845	Citizens Financial Group Inc 6.35%, 04/06/2024		2,600		66
Darden Restaurants Inc		3,397		357	(h)
Kohl's Corp		3,682		253	3 Month USD LIBOR + 3.64%
Matsumotokiyoshi Holdings Co Ltd		10,000		309	Fifth Third Bancorp 6.63%, 12/31/2023 (h)		100,000		2,685
Ruth's Hospitality Group Inc		15,593		360	3 Month USD LIBOR + 3.71%
Tapestry Inc		8,042		311	Goldman Sachs Group Inc/The 5.50%,		32,200		808
Target Corp		29,074		2,122	05/10/2023 (h)
Tiffany & Co		3,789		336	3 Month USD LIBOR + 3.64%
Tsuruha Holdings Inc		3,500		324	Huntington Bancshares Inc/OH 6.25%,		70,000		1,819
Wal-Mart de Mexico SAB de CV		806,200		2,118	04/15/2021 (h)
		$		9,150	KeyCorp 6.13%, 12/15/2026 (h)		40,000		1,086
Semiconductors - 0.12%					3 Month USD LIBOR + 3.89%
Cabot Microelectronics Corp		10,582		1,078	Morgan Stanley 5.85%, 04/15/2027 (h)		60,000		1,523
Intel Corp		53,589		2,525	3 Month USD LIBOR + 3.49%
Microchip Technology Inc		14,133		1,136	PNC Financial Services Group Inc/The 6.13%,		50,000		1,317
Novatek Microelectronics Corp		148,000		778	05/01/2022 (h)
Samsung Electronics Co Ltd		87,542		3,650	3 Month USD LIBOR + 4.07%
		$		9,167	Regions Financial Corp 6.38%, 09/15/2024 (h)		4,493		119
Software - 0.11%					3 Month USD LIBOR + 3.54%
Aspect Software Inc (a),(c),(d),(e)		514,301		—	State Street Corp 5.35%, 03/15/2026 (h)		3,704		94
InterXion Holding NV (a)		68,629		4,121	3 Month USD LIBOR + 3.71%
Microsoft Corp		23,364		2,440

See accompanying notes.

41

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

PREFERRED STOCKS (continued)		Shares Held          Value (000’s)					Principal
Banks (continued)						BONDS (continued)	Amount (000’s)		Value (000’s)
State Street Corp 5.90%, 03/15/2024 (h)			65,000	$	1,707	Aerospace & Defense (continued)
3 Month USD LIBOR + 3.11%						Leonardo SpA
US Bancorp 6.50%, 01/15/2022 (h)			200		5	4.88%, 03/24/2025	EUR	500	$	643
3 Month USD LIBOR + 4.47%						TransDigm Inc
Valley National Bancorp 6.25%, 06/30/2025 (h)			120,000		3,144	6.00%, 07/15/2022	$	5,975		6,020
3 Month USD LIBOR + 3.85%						6.25%, 03/15/2026(b),(i)		5,900		5,988
Wells Fargo & Co 5.63%, 06/15/2022 (h)			78,727		1,954	6.38%, 06/15/2026		4,450		4,283
			$		22,430	6.50%, 07/15/2024		8,875		8,753
Diversified Financial Services - 0.02%						United Technologies Corp
Charles Schwab Corp/The 6.00%, 12/01/2020 (h)			59,400		1,558	3.10%, 06/01/2022		1,800		1,794
Electric - 0.11%								$		28,934
Alabama Power Co 5.00%, 10/01/2022 (h)			75,000		1,870	Agriculture - 0.31%
Dominion Energy Inc 5.25%, 07/30/2076			76,941		1,898	Adecoagro SA
DTE Energy Co 5.25%, 12/01/2077			35,000		865	6.00%, 09/21/2027(b)		9,711		8,497
Entergy Louisiana LLC 4.70%, 06/01/2063			99,900		2,351	Altria Group Inc
Entergy New Orleans LLC 5.00%, 12/01/2052			20,000		483	3.88%, 09/16/2046		3,000		2,327
SCE Trust V 5.45%, 03/15/2026 (h)			1,837		38	Kernel Holding SA
3 Month USD LIBOR + 3.79%						8.75%, 01/31/2022		1,500		1,486
Southern Co/The 5.25%, 12/01/2077			31,100		754	Philip Morris International Inc
			$		8,259	6.38%, 05/16/2038		1,500		1,769
Food - 0.01%						Reynolds American Inc
Dairy Farmers of America Inc 7.88%,			10,000		993	4.00%, 06/12/2022		3,800		3,829
12/01/2025 (b)	,(h)					Tereos Finance Groupe I SA
Insurance - 0.09%						4.13%, 06/16/2023	EUR	5,600		5,575
Allstate Corp/The 6.63%, 04/15/2019 (h)			100,000		2,537			$		23,483
Arch Capital Group Ltd 5.25%, 09/29/2021 (h)			30,800		695	Airlines - 0.16%
Hartford Financial Services Group Inc/The			100,000		2,857	Gol Finance Inc
7.88%, 04/15/2042						7.00%, 01/31/2025(b)	$	13,382		12,395
3 Month USD LIBOR + 5.60%						Apparel - 0.01%
Reinsurance Group of America Inc 6.20%,			20,000		525	Levi Strauss & Co
09/15/2042						3.38%, 03/15/2027	EUR	200		234
3 Month USD LIBOR + 4.37%						PVH Corp
			$		6,614	3.13%, 12/15/2027		500		556
REITs - 0.14%								$		790
Digital Realty Trust Inc 7.38%, 03/26/2019 (h)			8,320		209	Automobile Manufacturers - 0.09%
Equity Residential 8.29%, 12/10/2026 (h)			20,702		1,263	Daimler AG
Kimco Realty Corp 5.25%, 12/20/2022 (h)			63,000		1,385	1.40%, 01/12/2024		2,000		2,333
Prologis Inc 8.54%, 11/13/2026 (h)			92,034		5,534	Fiat Chrysler Finance Europe SA
PS Business Parks Inc 5.75%, 03/08/2019 (h)			10,000		233	4.75%, 07/15/2022		900		1,131
Public Storage 5.05%, 08/09/2022 (h)			2,000		46	General Motors Financial Co Inc
Public Storage 5.88%, 12/02/2019 (h)			57,851		1,465	5.75%, 12/31/2049(h),(j)	$	1,000		857
Public Storage 6.00%, 06/04/2019 (h)			18,393		473	3 Month USD LIBOR + 3.60%
SITE Centers Corp 6.38%, 06/05/2022 (h)			15,702		345	Tesla Inc
			$		10,953	5.30%, 08/15/2025(b)		3,250		2,884
Savings & Loans - 0.00%								$		7,205
People's United Financial Inc 5.63%, 12/15/2026			1,100		29	Automobile Parts & Equipment - 0.08%
(h)						American Axle & Manufacturing Inc
3 Month USD LIBOR + 4.02%						6.25%, 04/01/2025		2,195		2,135
Sovereign - 0.08%						Cie Generale des Etablissements Michelin SCA
CoBank ACB 6.20%, 01/01/2025 (h)			7,000		700	1.75%, 09/03/2030	EUR	2,500		2,971
3 Month USD LIBOR + 3.74%						LKQ European Holdings BV
CoBank ACB 6.25%, 10/01/2022 (h)			51,000		5,228	3.63%, 04/01/2026		600		675
3 Month USD LIBOR + 4.56%						Weichai International Hong Kong Energy Group
			$		5,928	Co Ltd
Telecommunications - 0.07%						3.75%, 12/31/2049(h),(j)	$	700		652
Centaur Funding Corp 9.08%, 04/21/2020 (b)			2,071		2,195	US Treasury Yield Curve Rate T Note
Telephone & Data Systems Inc 6.88%,			10,496		254	Constant Maturity 5 Year + 6.08%
11/15/2059								$		6,433
Telephone & Data Systems Inc 7.00%,			90,412		2,243	Banks - 4.36%
03/15/2060						Australia & New Zealand Banking Group Ltd/
Verizon Communications Inc 5.90%, 02/15/2054			35,797		933	United Kingdom
			$		5,625	6.75%, 12/31/2049(b),(h),(j)		4,000		4,130
TOTAL PREFERRED STOCKS			$		62,389	USD Swap Rate NY 5 Year + 5.17%
		Principal				Banco Bilbao Vizcaya Argentaria SA
BONDS - 69.85%		Amount (000's)       Value (000's)				3.00%, 10/20/2020		3,500		3,486
Aerospace & Defense - 0.38%
Embraer Netherlands Finance BV
5.05%, 06/15/2025		$	1,400	$	1,453

See accompanying notes.

42

Schedule of Investments
Global Diversified Income Fund
January 31, 2019 (unaudited)
	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Banks (continued)					Banks (continued)
Banco Mercantil del Norte SA/Grand Cayman					Credit Suisse Group Funding Guernsey Ltd
5.75%, 10/04/2031(b),(j)	$	6,705	$	6,287	1.25%, 04/14/2022	EUR	1,250	$	1,447
US Treasury Yield Curve Rate T Note					Development Bank of Kazakhstan JSC
Constant Maturity 5 Year + 4.45%					8.95%, 05/04/2023(b)	KZT	1,078,750		2,439
Banco Santander SA					DNB Bank ASA
2.75%, 09/12/2023	GBP	1,000		1,311	6.50%, 12/31/2049(h),(j)	$	3,000		3,023
Bank of America Corp					USD Swap Semi-Annual 5 Year + 5.08%
4.13%, 01/22/2024	$	3,000		3,116	Dresdner Funding Trust I
6.25%, 12/31/2049(h),(j)		5,000		5,265	8.15%, 06/30/2031(b)		1,400		1,694
3 Month USD LIBOR + 3.71%					Fifth Third Bancorp
6.30%, 12/31/2049(h),(j)		14,700		15,827	5.10%, 12/31/2049(h),(j)		15,000		14,081
3 Month USD LIBOR + 4.55%					3 Month USD LIBOR + 3.03%
Bank of China Ltd					8.25%, 03/01/2038		900		1,221
5.00%, 11/13/2024		1,400		1,457	FirstRand Bank Ltd
Bank of Montreal					6.25%, 04/23/2028(j)		550		561
1.61%, 10/28/2021	CAD	4,250		3,160	USD Swap Semi-Annual 5 Year + 3.56%
Bank of New York Mellon Corp/The					Goldman Sachs Group Inc/The
4.95%, 12/31/2049(h),(j)	$	4,420		4,470	4.22%, 05/01/2029(j)		1,750		1,758
3 Month USD LIBOR + 3.42%					3 Month USD LIBOR + 1.30%
Barclays PLC					5.38%, 12/31/2049(h),(j)		16,375		16,416
3.65%, 03/16/2025		4,000		3,821	3 Month USD LIBOR + 3.92%
7.88%, 12/31/2049(h),(j)		10,300		10,723	HSBC Capital Funding Dollar 1 LP
USD Swap Semi-Annual 5 Year + 6.77%					10.18%, 12/29/2049(h),(j)		2,800		4,018
BNP Paribas SA					3 Month USD LIBOR + 4.98%
7.37%, 12/31/2049(b),(h),(j)		3,000		3,116	10.18%, 12/29/2049(b),(h),(j)		5,200		7,462
USD Swap Semi-Annual 5 Year + 5.15%					3 Month USD LIBOR + 4.98%
7.63%, 12/31/2049(b),(h),(j)		5,000		5,264	HSBC Holdings PLC
USD Swap Semi-Annual 5 Year + 6.31%					4.38%, 11/23/2026		3,800		3,812
Canadian Imperial Bank of Commerce					6.87%, 12/31/2049(h),(j)		4,000		4,160
3.30%, 05/26/2025	CAD	700		545	USD Swap Rate NY 5 Year + 5.51%
Capital One NA					Huntington Bancshares Inc/OH
2.25%, 09/13/2021	$	850		824	5.70%, 12/31/2049(h),(j)		3,000		2,832
CIT Group Inc					3 Month USD LIBOR + 2.88%
5.80%, 12/31/2049(h),(j)		2,285		2,184	ING Groep NV
3 Month USD LIBOR + 3.97%					6.50%, 12/31/2049(h),(j)		5,000		4,879
6.13%, 03/09/2028		295		313	USD Swap Semi-Annual 5 Year + 4.45%
Citibank NA					Itau Unibanco Holding SA/Cayman Island
2.13%, 10/20/2020		1,750		1,726	6.13%, 12/31/2049(b),(h),(j)		3,136		3,050
Citigroup Capital III					US Treasury Yield Curve Rate T Note
7.63%, 12/01/2036		8,600		10,806	Constant Maturity 5 Year + 3.98%
Citigroup Inc					JPMorgan Chase & Co
4.65%, 07/23/2048		2,000		2,079	4.50%, 01/24/2022		3,350		3,490
5.90%, 12/29/2049(h),(j)		3,043		3,073	4.62%, 12/31/2049(h),(j)		1,510		1,392
3 Month USD LIBOR + 4.23%					3 Month USD LIBOR + 2.58%
5.95%, 12/29/2049(h),(j)		900		898	6.75%, 12/31/2049(h),(j)		11,200		12,071
3 Month USD LIBOR + 4.07%					3 Month USD LIBOR + 3.78%
6.13%, 12/31/2049(h),(j)		4,025		4,085	KeyCorp Capital III
3 Month USD LIBOR + 4.48%					7.75%, 07/15/2029		795		972
Citizens Financial Group Inc					Lloyds Bank PLC
5.50%, 12/31/2049(h),(j)		6,750		6,780	12.00%, 12/29/2049(h),(j)		3,000		3,608
3 Month USD LIBOR + 3.96%					3 Month USD LIBOR + 11.76%
6.38%, 12/31/2049(h),(j)		5,013		4,928	12.00%, 12/29/2049(b),(h),(j)		3,000		3,608
3 Month USD LIBOR + 3.16%					3 Month USD LIBOR + 11.76%
Cooperatieve Rabobank UA					Lloyds Banking Group PLC
11.00%, 12/29/2049(b),(h),(j)		3,700		3,816	0.63%, 01/15/2024(j)	EUR	2,100		2,322
3 Month USD LIBOR + 10.87%					EUR Swap Annual (VS 6 Month) 1 Year
Credit Agricole SA					+ 0.47%
7.88%, 12/31/2049(b),(h),(j)		6,000		6,292	2.25%, 10/16/2024	GBP	400		509
USD Swap Semi-Annual 5 Year + 4.90%					M&T Bank Corp
Credit Suisse AG/New York NY					6.45%, 12/31/2049(h),(j)	$	535		562
3.63%, 09/09/2024		1,900		1,907	3 Month USD LIBOR + 3.61%
Credit Suisse Group AG					Morgan Stanley
6.25%, 12/31/2049(b),(h),(j)		3,000		2,966	2.63%, 03/09/2027	GBP	1,600		2,084
USD Swap Semi-Annual 5 Year + 3.46%					5.45%, 12/31/2049(h),(j)	$	1,593		1,595
7.50%, 12/31/2049(b),(h),(j)		3,300		3,500	3 Month USD LIBOR + 3.61%
USD Swap Semi-Annual 5 Year + 4.60%					5.55%, 12/31/2049(h),(j)		8,385		8,427
7.50%, 12/31/2049(h),(j)		5,000		5,304	3 Month USD LIBOR + 3.81%
USD Swap Semi-Annual 5 Year + 4.60%

See accompanying notes.

43

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal						Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)			Value (000’s)
Banks (continued)					Building Materials (continued)
National Australia Bank Ltd/New York					Standard Industries Inc/NJ
2.50%, 07/12/2026	$	2,000	$	1,846	4.75%, 01/15/2028(b)		$	1,015	$	919
Noor Sukuk Co Ltd								$		4,721
4.47%, 04/24/2023		700		700	Chemicals - 0.47%
Popular Inc					Alpek SAB de CV
6.13%, 09/14/2023		1,100		1,129	4.50%, 11/20/2022			1,300		1,300
Provident Funding Associates LP / PFG Finance					Alpha 2 BV
Corp					8.75%, PIK 9.50%, 06/01/2023(b),(k),(l)			895		866
6.38%, 06/15/2025(b)		12,110		10,687	Axalta Coating Systems Dutch Holding B BV
QNB Finansbank AS					3.75%, 01/15/2025	EUR		400		458
4.88%, 05/19/2022(b)		6,200		5,953	Braskem America Finance Co
Royal Bank of Scotland Group PLC					7.13%, 07/22/2041(b)		$	3,070		3,457
8.00%, 12/31/2049(h),(j)		300		314	Braskem Netherlands Finance BV
USD Swap Semi-Annual 5 Year + 5.72%					4.50%, 01/10/2028(b)			4,620		4,499
8.62%, 12/29/2049(h),(j)		7,000		7,453	CF Industries Inc
USD Swap Semi-Annual 5 Year + 7.60%					5.15%, 03/15/2034			1,640		1,509
Santander UK Group Holdings PLC					Cornerstone Chemical Co
3.82%, 11/03/2028(j)		2,000		1,879	6.75%, 08/15/2024(b)			10,632		10,021
3 Month USD LIBOR + 1.40%					DowDuPont Inc
Standard Chartered PLC					4.21%, 11/15/2023			700		725
7.01%, 07/29/2049(b),(h),(j)		750		773	Israel Chemicals Ltd
3 Month USD LIBOR + 1.46%					6.38%, 05/31/2038(b)			2,945		3,024
7.75%, 12/31/2049(b),(h),(j)		7,000		7,298	Kronos International Inc
USD Swap Semi-Annual 5 Year + 5.72%					3.75%, 09/15/2025	EUR		200		209
State Savings Bank of Ukraine Via SSB #1 PLC					Mexichem SAB de CV
9.62%, 03/20/2025(k)		21,147		20,513	5.88%, 09/17/2044		$	500		467
Swedbank AB					NOVA Chemicals Corp
6.00%, 12/31/2049(h),(j)		10,000		9,975	5.25%, 06/01/2027(b)			1,375		1,255
USD Swap Semi-Annual 5 Year + 4.11%					OCI NV
Turkiye Halk Bankasi AS					5.00%, 04/15/2023	EUR		400		480
3.88%, 02/05/2020		500		480	Petkim Petrokimya Holding AS
Turkiye Is Bankasi AS					5.88%, 01/26/2023		$	700		661
6.13%, 04/25/2024(b)		4,000		3,565	PSPC Escrow Corp
Turkiye Vakiflar Bankasi TAO					6.00%, 02/01/2023	EUR		850		1,003
5.50%, 10/27/2021		1,200		1,152	SASOL Financing USA LLC
5.75%, 01/30/2023(b)		4,600		4,246	5.88%, 03/27/2024		$	700		722
Wells Fargo & Co					6.50%, 09/27/2028			4,500		4,751
5.87%, 12/31/2049(h),(j)		5,100		5,291	Solvay Finance SA
3 Month USD LIBOR + 3.99%					5.87%, 12/31/2049(h),(j)	EUR		400		509
Wells Fargo Bank NA					EUR Swap Annual (VS 6 Month) 5 Year
6.60%, 01/15/2038		1,750		2,214	+ 5.22%
Yapi ve Kredi Bankasi AS								$		35,916
5.50%, 12/06/2022		600		534	Coal - 0.46%
Yes Bank Ifsc Banking Unit Branch					Alliance Resource Operating Partners LP /
3.75%, 02/06/2023		700		656	Alliance Resource Finance Corp
		$		333,610	7.50%, 05/01/2025(b)		$	2,085		2,166
Beverages - 0.13%					Eterna Capital Pte Ltd
Anheuser-Busch InBev SA/NV					7.50%, PIK 6.00%, 12/11/2022(k),(l)			4,195		4,138
1.50%, 04/18/2030	EUR	700		770	8.00%, PIK 8.00%, 12/11/2022(k),(l)			2,399		2,066
Anheuser-Busch InBev Worldwide Inc					Foresight Energy LLC / Foresight Energy Finance
3.50%, 01/12/2024	$	2,600		2,609	Corp
Cott Corp					11.50%, 04/01/2023(b)			31,600		27,097
5.50%, 07/01/2024	EUR	3,700		4,447				$		35,467
Molson Coors Brewing Co					Commercial Mortgage Backed Securities - 16.97%
2.10%, 07/15/2021	$	1,900		1,852	Banc of America Merrill Lynch Commercial
		$		9,678	Mortgage Inc
Biotechnology - 0.07%					5.49%, 11/10/2042(k)			2,536		2,511
Celgene Corp					BANK 2017-BNK4
4.63%, 05/15/2044		2,000		1,906	0.82%, 05/15/2050(k),(m)			13,843		828
Gilead Sciences Inc					BANK 2017-BNK5
3.65%, 03/01/2026		3,250		3,258	1.18%, 06/15/2060(b),(k),(m)			36,903		2,991
		$		5,164	3.08%, 06/15/2060(b),(k)			18,288		15,033
Building Materials - 0.06%					4.26%, 06/15/2060(b),(k)			8,356		5,627
Cemex SAB de CV					BANK 2017-BNK6
5.70%, 01/11/2025		1,400		1,417	3.10%, 07/15/2060(b)			2,500		2,037
HeidelbergCement AG					BANK 2017-BNK9
2.25%, 03/30/2023	EUR	2,000		2,385	1.42%, 11/15/2054(b),(k),(m)			15,200		1,587
					2.80%, 11/15/2054(b)			10,000		7,835

See accompanying notes.

44

Schedule of Investments
Global Diversified Income Fund
January 31, 2019 (unaudited)
	Principal					Principal
BONDS (continued)	Amount (000’s)			Value (000’s)	BONDS (continued)	Amount (000’s)		Value (000’s)
Commercial Mortgage Backed Securities (continued)					Commercial Mortgage Backed Securities (continued)
BANK 2018-BNK10					Citigroup Commercial Mortgage Trust
1.75%, 02/15/2061(b),(k),(m)	$	31,334	$	4,043	2016-GC37
BANK 2018-BNK12					1.78%, 04/10/2049(k),(m)	$	15,069	$	1,455
1.42%, 05/15/2061(b),(k),(m)		18,728		2,069	Citigroup Commercial Mortgage Trust 2018-B2
3.00%, 05/15/2061(b)		6,000		4,856	1.50%, 03/10/2051(b),(k),(m)		13,247		1,432
BANK 2018-BNK13					3.17%, 03/10/2051(b),(k)		2,500		1,953
1.54%, 08/15/2061(b),(k),(m)		41,485		4,680	Citigroup Commercial Mortgage Trust 2018-C6
3.00%, 08/15/2061(b)		7,000		5,601	5.07%, 11/10/2051(b),(k)		10,000		9,653
4.22%, 08/15/2061(k)		8,500		8,942	COMM 2012-CCRE1 Mortgage Trust
4.68%, 08/15/2061(k)		6,000		6,251	2.46%, 05/15/2045(b)		13,993		10,884
BANK 2018-BNK14					5.32%, 05/15/2045(b),(k)		8,889		8,985
1.60%, 09/15/2060(b),(k),(m)		11,466		1,455	COMM 2012-CCRE4 Mortgage Trust
3.00%, 09/15/2060(b)		8,000		6,611	4.57%, 10/15/2045(b),(k)		5,000		2,042
BBCMS Mortgage Trust 2018-C2					COMM 2012-CCRE5 Mortgage Trust
4.97%, 12/15/2051(k)		10,000		10,209	4.32%, 12/10/2045(b),(k)		3,475		3,438
BENCHMARK 2018-B1 Mortgage Trust					4.32%, 12/10/2045(b),(k)		7,500		7,193
1.12%, 01/15/2051(k),(m)		12,667		1,099	Comm 2013-CCRE13 Mortgage Trust
1.37%, 01/15/2051(b),(k),(m)		30,260		3,187	4.90%, 11/10/2046(b),(k)		6,421		6,133
2.75%, 01/15/2051(b)		6,500		5,069	4.90%, 11/10/2046(b),(k)		5,660		4,718
3.67%, 01/15/2051(k)		10,000		10,128	COMM 2013-CCRE6 Mortgage Trust
BENCHMARK 2018-B3 Mortgage Trust					1.06%, 03/10/2046(k),(m)		57,088		1,582
1.50%, 04/10/2051(b),(k),(m)		5,520		605	4.08%, 03/10/2046(b),(k)		13,215		12,594
3.06%, 04/10/2051(b)		3,000		2,549	4.08%, 03/10/2046(b),(k)		10,500		8,894
Benchmark 2018-B5 Mortgage Trust					COMM 2013-CCRE7 Mortgage Trust
0.50%, 07/15/2051(k),(m)		97,427		3,518	4.39%, 03/10/2046(b),(k)		7,500		5,667
3.11%, 07/15/2051(b),(k)		4,500		3,826	COMM 2014-CCRE15 Mortgage Trust
4.21%, 07/15/2051		20,000		21,060	4.21%, 02/10/2047(b),(k)		5,414		4,561
4.57%, 07/15/2051		5,000		5,239	COMM 2014-CCRE17 Mortgage Trust
BENCHMARK 2018-B6 Mortgage Trust					0.33%, 05/10/2047(b),(k),(m)		44,717		645
1.50%, 10/10/2051(b),(k),(m)		37,790		4,460	4.80%, 05/10/2047(b),(k)		12,469		11,940
3.12%, 10/10/2051(b),(k)		3,750		2,949	Comm 2014-UBS2 Mortgage Trust
3.12%, 10/10/2051(b),(k)		10,000		8,445	5.00%, 03/10/2047(b),(k)		13,690		12,307
BENCHMARK 2018-B7 Mortgage Trust					COMM 2014-UBS3 Mortgage Trust
1.86%, 05/15/2053(b),(k)		16,962		2,572	4.81%, 06/10/2047(b),(k)		21,861		20,368
3.00%, 05/15/2053(b),(k)		5,000		4,153	COMM 2014-UBS5 Mortgage Trust
Benchmark 2018-B8 Mortgage Trust					3.50%, 09/10/2047(b)		6,500		5,425
1.88%, 01/15/2052(b),(k),(m)		6,900		1,005	COMM 2015-LC19 Mortgage Trust
3.00%, 01/15/2052(b)		5,000		4,029	4.26%, 02/10/2048(b),(k)		8,000		6,315
4.23%, 01/15/2052		5,000		5,278	4.26%, 02/10/2048(k)		2,500		2,489
4.73%, 01/15/2052		5,000		5,280	COMM 2015-LC23 Mortgage Trust
4.88%, 01/15/2052(k)		7,961		8,187	3.65%, 10/10/2048(b),(k)		6,000		5,574
CD 2006-CD2 Mortgage Trust					COMM 2016-COR1 Mortgage Trust
5.54%, 01/15/2046(k)		2,498		1,895	1.47%, 10/10/2049(k),(m)		45,029		3,499
CD 2017-CD5 Mortgage Trust					4.39%, 10/10/2049(k)		5,000		4,958
3.35%, 08/15/2050(b)		7,000		5,829	COMM 2017-COR2 Mortgage Trust
CD 2018-CD7 Mortgage Trust					1.18%, 09/10/2050(k),(m)		43,266		3,440
1.75%, 08/15/2051(b),(k),(m)		20,444		2,662	COMM 2018-COR3 Mortgage Trust
3.10%, 08/15/2051(b),(k)		10,000		8,238	1.75%, 05/10/2051(b),(k),(m)		15,800		2,049
4.28%, 08/15/2051		20,000		21,092	2.96%, 05/10/2051(b)		8,500		6,758
5.01%, 08/15/2051(k)		5,182		5,282	4.23%, 05/10/2051		10,750		11,258
CFCRE Commercial Mortgage Trust 2016-C6					4.56%, 05/10/2051(k)		4,875		4,882
1.19%, 11/10/2049(k),(m)		44,576		3,125	Credit Suisse Commercial Mortgage Trust Series
4.22%, 11/10/2049(k)		4,000		3,920	2007-C1
CGMS Commercial Mortgage Trust 2017-B1					5.46%, 02/15/2040(k)		22,962		10,771
3.00%, 08/15/2050(b)		7,435		5,774	CSAIL 2018-CX12 Commercial Mortgage Trust
Citigroup Commercial Mortgage Trust 2007-C6					1.50%, 08/15/2051(b),(k),(m)		8,985		1,022
5.62%, 12/10/2049(k)		4,878		3,236	3.27%, 08/15/2051(b),(k)		3,500		3,021
Citigroup Commercial Mortgage Trust 2012-GC8					4.22%, 08/15/2051		5,000		5,238
4.87%, 09/10/2045(b),(k)		1,875		1,637	DBGS 2018-BIOD Mortgage Trust
Citigroup Commercial Mortgage Trust					1.75%, 10/15/2051(b),(k),(m)		9,496		1,257
2013-GC15					2.89%, 10/15/2051(b),(k)		1,750		1,391
4.25%, 09/10/2046(b),(k)		16,492		12,787	2.89%, 10/15/2051(b),(k)		1,750		1,352
5.22%, 09/10/2046(b),(k)		7,700		7,682	4.47%, 10/15/2051		5,500		5,889
Citigroup Commercial Mortgage Trust					DBJPM 17-C6 Mortgage Trust
2015-GC27					1.04%, 06/10/2050(k),(m)		99,463		6,036
4.43%, 02/10/2048(k)		10,000		9,915	3.24%, 06/10/2050(b),(k)		15,000		12,352
Citigroup Commercial Mortgage Trust 2016-C1					DBUBS 2011-LC1 Mortgage Trust
1.91%, 05/10/2049(k),(m)		36,890		3,909	0.31%, 11/10/2046(b),(k),(m)		142,384		834

See accompanying notes.

45

Schedule of Investments
Global Diversified Income Fund
January 31, 2019 (unaudited)
	Principal					Principal
BONDS (continued)	Amount (000’s)		Value (000’s)		BONDS (continued)	Amount (000’s)		Value (000’s)
Commercial Mortgage Backed Securities (continued)					Commercial Mortgage Backed Securities (continued)
DBUBS 2011-LC2 Mortgage Trust					JP Morgan Chase Commercial Mortgage
1.06%, 07/10/2044(b),(k),(m)	$	9,555	$	184	Securities Trust 2007-CIBC19
Freddie Mac Multifamily Structured Pass					5.92%, 02/12/2049(k)	$	27,581	$	20,287
Through Certificates					JP Morgan Chase Commercial Mortgage
1.27%, 08/25/2020(k),(m)		23,611		363	Securities Trust 2011-C5
1.44%, 05/25/2040(k),(m)		35,000		431	4.00%, 08/15/2046(b),(k)		6,000		5,618
1.46%, 04/25/2041(k),(m)		86,714		1,557	5.37%, 08/15/2046(b),(k)		4,844		4,829
1.48%, 01/25/2043(k),(m)		79,054		6,142	JP Morgan Chase Commercial Mortgage
1.62%, 11/25/2042(k),(m)		83,688		3,389	Securities Trust 2012-C6
1.65%, 11/25/2040(k),(m)		16,936		933	2.97%, 05/15/2045(b),(k)		7,500		5,597
1.66%, 06/25/2041(k),(m)		20,000		1,235	JP Morgan Chase Commercial Mortgage
1.66%, 10/25/2041(k),(m)		43,000		2,890	Securities Trust 2012-C8
1.66%, 06/25/2042(k),(m)		13,000		43	2.75%, 10/15/2045(b),(k)		8,553		6,815
1.97%, 11/25/2044(k),(m)		16,293		1,589	JP Morgan Chase Commercial Mortgage
2.02%, 02/25/2041(k),(m)		33,968		1,327	Securities Trust 2013-C16
2.04%, 02/25/2045(k),(m)		27,900		2,900	3.74%, 12/15/2046(b),(k)		10,000		8,524
2.09%, 05/25/2025(k),(m)		43,706		4,831	5.03%, 12/15/2046(b),(k)		5,000		4,944
2.11%, 08/25/2042(k),(m)		98,038		10,605	JP Morgan Chase Commercial Mortgage
2.17%, 05/25/2046(k),(m)		75,770		9,094	Securities Trust 2013-LC11
2.19%, 01/25/2026(k),(m)		70,234		8,634	1.27%, 04/15/2046(k),(m)		52,431		2,334
2.20%, 12/25/2039(k),(m)		25,654		1,521	JP Morgan Chase Commercial Mortgage
2.21%, 06/25/2046(k),(m)		17,800		2,914	Securities Trust 2016-JP3
2.23%, 09/25/2046(k),(m)		14,690		2,505	3.40%, 08/15/2049(k)		3,250		3,134
2.25%, 01/25/2041(k),(m)		15,544		648	JPMBB Commercial Mortgage Securities Trust
2.26%, 07/25/2046(k),(m)		17,686		2,952	2013-C12
2.27%, 08/25/2045(k),(m)		37,838		6,368	4.10%, 07/15/2045(k)		7,286		6,767
2.32%, 04/25/2029(m)		17,584		3,145	JPMBB Commercial Mortgage Securities Trust
3.61%, 06/25/2041(k),(m)		4,400		340	2013-C15
4.62%, 11/25/2044(k),(m)		1,800		135	3.50%, 11/15/2045(b)		9,191		7,095
GS Mortgage Securities Corp II					5.20%, 11/15/2045(b),(k)		23,750		23,657
1.41%, 07/10/2051(b),(k),(m)		8,017		924	JPMBB Commercial Mortgage Securities Trust
3.00%, 07/10/2051(b)		2,500		2,106	2014-C18
4.16%, 07/10/2051(k)		5,500		5,757	0.87%, 02/15/2047(k),(m)		48,627		1,738
GS Mortgage Securities Trust 2010-C2					4.82%, 02/15/2047(b),(k)		7,850		7,149
5.18%, 12/10/2043(b),(k)		5,000		5,135	JPMBB Commercial Mortgage Securities Trust
GS Mortgage Securities Trust 2011-GC5					2014-C19
5.39%, 08/10/2044(b),(k)		3,660		3,185	4.66%, 04/15/2047(b),(k)		1,359		1,231
GS Mortgage Securities Trust 2012-GCJ7					4.66%, 04/15/2047(k)		15,096		15,330
5.70%, 05/10/2045(b),(k)		7,429		7,213	JPMBB Commercial Mortgage Securities Trust
GS Mortgage Securities Trust 2012-GCJ9					2014-C21
4.75%, 11/10/2045(b),(k)		5,000		4,969	1.02%, 08/15/2047(k),(m)		41,809		1,837
4.75%, 11/10/2045(b),(k)		8,500		7,770	JPMBB Commercial Mortgage Securities Trust
GS Mortgage Securities Trust 2013-GC16					2014-C23
3.50%, 11/10/2046(b)		2,500		1,860	0.73%, 09/15/2047(k),(m)		240,794		6,521
5.31%, 11/10/2046(b),(k)		3,544		3,689	JPMBB Commercial Mortgage Securities Trust
GS Mortgage Securities Trust 2013-GCJ14					2014-C24
4.75%, 08/10/2046(b),(k)		10,460		10,060	3.89%, 11/15/2047(b),(k)		20,500		17,854
4.75%, 08/10/2046(b),(k)		7,742		6,454	JPMBB Commercial Mortgage Securities Trust
4.75%, 08/10/2046(b),(k)		2,500		2,100	2014-C26
GS Mortgage Securities Trust 2014-GC26					4.42%, 01/15/2048(k)		5,000		5,020
1.20%, 11/10/2047(b),(k),(m)		29,811		1,822	JPMBB Commercial Mortgage Securities Trust
4.51%, 11/10/2047(b),(k)		2,570		2,236	2015-C28
GS Mortgage Securities Trust 2017-GS7					0.50%, 10/15/2048(b),(k),(m)		54,005		1,382
1.14%, 08/10/2050(k),(m)		28,989		2,091	1.12%, 10/15/2048(k),(m)		58,857		2,526
GS Mortgage Securities Trust 2018-GS9					JPMBB Commercial Mortgage Securities Trust
1.36%, 03/10/2051(b),(k),(m)		8,353		847	2015-C29
3.99%, 03/10/2051(k)		7,500		7,751	3.67%, 05/15/2048(k)		5,270		4,232
JP Morgan Chase Commercial Mortgage					JPMBB Commercial Mortgage Securities Trust
Securities Trust 2005-CIBC12					2015-C30
4.99%, 09/12/2037(k)		18		19	0.57%, 07/15/2048(k),(m)		77,125		2,133
JP Morgan Chase Commercial Mortgage					JPMBB Commercial Mortgage Securities Trust
Securities Trust 2006-CIBC17					2015-C31
5.49%, 12/12/2043(k)		10,380		8,520	0.50%, 08/15/2048(b),(k),(m)		42,377		1,130
JP Morgan Chase Commercial Mortgage					JPMCC Commercial Mortgage Securities Trust
Securities Trust 2006-LDP9					2017-JP5
5.34%, 05/15/2047		1,000		922	1.10%, 03/15/2050(k),(m)		98,554		5,868

See accompanying notes.

46

Schedule of Investments
Global Diversified Income Fund
January 31, 2019 (unaudited)
	Principal					Principal
BONDS (continued)	Amount (000’s)    Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Commercial Mortgage Backed Securities (continued)					Commercial Mortgage Backed Securities (continued)
JPMCC Commercial Mortgage Securities Trust					UBS Commercial Mortgage Trust 2018-C15
2017-JP6					4.92%, 12/15/2051(k)	$	10,000	$	10,499
1.32%, 07/15/2050(k),(m)	$	23,770	$	1,502	UBS-Barclays Commercial Mortgage Trust
JPMCC Commercial Mortgage Securities Trust					2012-C2
2017-JP7					1.32%, 05/10/2063(b),(k),(m)		26,215		963
4.05%, 09/15/2050		2,500		2,512	UBS-Barclays Commercial Mortgage Trust
4.41%, 09/15/2050(b),(k)		14,484		13,770	2012-C3
LB Commercial Mortgage Trust 2007-C3					5.00%, 08/10/2049(b),(k)		20,994		18,001
6.09%, 07/15/2044(k)		829		838	5.03%, 08/10/2049(b),(k)		25,827		25,279
6.09%, 07/15/2044(k)		12,738		11,394	UBS-Barclays Commercial Mortgage Trust
LB-UBS Commercial Mortgage Trust 2006-C7					2012-C4
5.41%, 11/15/2038		12,114		9,204	4.48%, 12/10/2045(b),(k)		12,000		11,327
LB-UBS Commercial Mortgage Trust 2007-C6					4.48%, 12/10/2045(b),(k)		17,981		14,695
6.31%, 07/15/2040(k)		13,250		13,345	UBS-Barclays Commercial Mortgage Trust
6.31%, 07/15/2040(k)		8,841		8,313	2013-C5
ML-CFC Commercial Mortgage Trust 2007-5					4.08%, 03/10/2046(b),(k)		9,150		8,423
5.45%, 08/12/2048(k)		4,528		3,263	4.08%, 03/10/2046(b),(k)		5,759		4,963
Morgan Stanley Bank of America Merrill Lynch					Wachovia Bank Commercial Mortgage Trust
Trust 2012-C5					Series 2006-C26
4.69%, 08/15/2045(b),(k)		6,787		6,787	6.38%, 06/15/2045(k)		202		201
Morgan Stanley Bank of America Merrill Lynch					Wells Fargo Commercial Mortgage Trust 2010-C1
Trust 2013-C8					0.57%, 11/15/2043(b),(k),(m)		13,501		130
4.06%, 12/15/2048(b),(k)		18,500		17,119	Wells Fargo Commercial Mortgage Trust
Morgan Stanley Bank of America Merrill Lynch					2014-LC18
Trust 2014-C14					1.09%, 12/15/2047(k),(m)		80,148		3,736
4.88%, 02/15/2047(k)		6,750		6,967	3.96%, 12/15/2047(b),(k)		13,500		12,111
4.88%, 02/15/2047(b),(k)		10,331		9,393	Wells Fargo Commercial Mortgage Trust
Morgan Stanley Bank of America Merrill Lynch					2015-C28
Trust 2014-C15					4.13%, 05/15/2048(k)		10,000		8,825
4.91%, 04/15/2047(b),(k)		4,000		3,686	Wells Fargo Commercial Mortgage Trust
Morgan Stanley Bank of America Merrill Lynch					2015-C31
Trust 2014-C16					3.85%, 11/15/2048		5,136		4,472
4.25%, 06/15/2047(b),(k)		17,104		12,392	Wells Fargo Commercial Mortgage Trust
4.75%, 06/15/2047(b),(k)		10,598		8,351	2015-NXS1
Morgan Stanley Bank of America Merrill Lynch					2.88%, 05/15/2048(b),(k)		7,116		5,048
Trust 2014-C18					4.10%, 05/15/2048(k)		3,580		3,348
4.49%, 10/15/2047(k)		4,408		4,397	Wells Fargo Commercial Mortgage Trust
Morgan Stanley Bank of America Merrill Lynch					2015-NXS3
Trust 2015-C20					1.15%, 09/15/2057(k),(m)		26,295		1,179
1.34%, 02/15/2048(k),(m)		50,587		2,878	3.15%, 09/15/2057(b)		5,000		4,013
1.39%, 02/15/2048(b),(k),(m)		41,500		2,982	Wells Fargo Commercial Mortgage Trust
Morgan Stanley Bank of America Merrill Lynch					2016-C34
Trust 2015-C21					2.16%, 06/15/2049(k),(m)		35,536		3,690
0.93%, 03/15/2048(k),(m)		33,126		1,416	Wells Fargo Commercial Mortgage Trust
Morgan Stanley Bank of America Merrill Lynch					2016-C35
Trust 2015-C26					1.98%, 07/15/2048(k),(m)		38,888		4,252
3.06%, 10/15/2048(b)		2,185		1,846	Wells Fargo Commercial Mortgage Trust
Morgan Stanley Bank of America Merrill Lynch					2016-C36
Trust 2016-C29					4.19%, 11/15/2059(k)		4,000		3,779
1.62%, 05/15/2049(k),(m)		42,333		3,571	Wells Fargo Commercial Mortgage Trust
Morgan Stanley Bank of America Merrill Lynch					2016-C37
Trust 2016-C31					4.32%, 12/15/2049(k)		1,800		1,825
1.32%, 11/15/2049(b),(k),(m)		21,213		1,841	Wells Fargo Commercial Mortgage Trust
Morgan Stanley Capital I Trust 2011-C3					2016-NXS5
0.78%, 07/15/2049(b),(k),(m)		22,885		294	4.88%, 01/15/2059(k)		4,254		4,080
Morgan Stanley Capital I Trust 2018-H3					Wells Fargo Commercial Mortgage Trust
1.85%, 07/15/2051(b),(k),(m)		7,682		1,041	2017-C38
Morgan Stanley Capital I Trust 2018-L1					1.08%, 07/15/2050(k),(m)		97,392		6,469
3.00%, 10/15/2051(b)		5,000		4,149	Wells Fargo Commercial Mortgage Trust
SG Commercial Mortgage Securities Trust					2017-C40
2016-C5					4.33%, 10/15/2050(k)		10,000		9,789
0.91%, 10/10/2048(k),(m)		17,960		1,098	Wells Fargo Commercial Mortgage Trust
UBS Commercial Mortgage Trust 2012-C1					2017-C42
5.00%, 05/10/2045(b),(k)		8,000		7,119	1.57%, 12/15/2050(b),(k),(m)		20,343		2,255
UBS Commercial Mortgage Trust 2018-C12					Wells Fargo Commercial Mortgage Trust
4.30%, 08/15/2051		6,000		6,321	2018-C43
4.79%, 08/15/2051(k)		5,000		5,293	1.62%, 03/15/2051(b),(k),(m)		6,614		802

See accompanying notes.

47

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)    Value (000’s)				BONDS (continued)	Amount (000’s)  Value (000’s)
Commercial Mortgage Backed Securities (continued)					Computers (continued)
Wells Fargo Commercial Mortgage Trust					West Corp
2018-C44					8.50%, 10/15/2025(b)	$	17,560	$	14,641
1.84%, 05/15/2051(b),(k),(m)	$	8,022	$	1,103			$		22,457
3.00%, 05/15/2051(b)		5,000		3,932	Consumer Products - 0.05%
4.21%, 05/15/2051		7,500		7,853	Prestige Brands Inc
Wells Fargo Commercial Mortgage Trust					5.38%, 12/15/2021(b)		4,160		4,160
2018-C45					Cosmetics & Personal Care - 0.20%
1.88%, 06/15/2051(b),(k),(m)		2,647		368	Avon International Operations Inc
3.00%, 06/15/2051(b)		1,250		998	7.88%, 08/15/2022(b)		6,500		6,565
Wells Fargo Commercial Mortgage Trust					High Ridge Brands Co
2018-C46					8.88%, 03/15/2025(b)		15,607		6,711
5.15%, 08/15/2051		6,000		6,070	Procter & Gamble Co/The
Wells Fargo Commercial Mortgage Trust					1.13%, 11/02/2023	EUR	1,800		2,137
2018-C47							$		15,413
1.94%, 09/15/2061(b),(k),(m)		14,133		2,139	Distribution & Wholesale - 0.24%
3.00%, 09/15/2061(b)		6,000		4,856	KAR Auction Services Inc
4.94%, 09/15/2061(k)		4,500		4,558	5.13%, 06/01/2025(b)	$	7,200		6,938
Wells Fargo Commercial Mortgage Trust					LKQ Corp
2018-C48					4.75%, 05/15/2023		10,980		11,035
0.96%, 01/15/2052(k),(m)		69,092		5,020	Rexel SA
5.12%, 01/15/2052(k)		10,000		10,132	3.50%, 06/15/2023	EUR	300		352
WFRBS Commercial Mortgage Trust 2011-C5							$		18,325
0.12%, 11/15/2044(b),(k),(m)		121,416		444
WFRBS Commercial Mortgage Trust 2013-C11					Diversified Financial Services - 1.60%
4.27%, 03/15/2045(b),(k)		10,000		9,035	Alliance Data Systems Corp
WFRBS Commercial Mortgage Trust 2014-C20					5.38%, 08/01/2022(b)	$	10,841		10,841
3.99%, 05/15/2047(b)		10,000		8,058	Ally Financial Inc
4.51%, 05/15/2047(k)		1,000		973	5.75%, 11/20/2025		3,565		3,735
WFRBS Commercial Mortgage Trust 2014-C22					Avation Capital SA
3.90%, 09/15/2057(b),(k)		10,000		7,909	6.50%, 05/15/2021(b)		855		852
WFRBS Commercial Mortgage Trust 2014-C24					Capital One Financial Corp
3.69%, 11/15/2047(b)		11,047		8,366	5.55%, 12/31/2049(h),(j)		18,140		18,285
		$		1,299,748	3 Month USD LIBOR + 3.80%
					Charles Schwab Corp/The
Commercial Services - 0.88%					7.00%, 02/28/2049(h),(j)		4,198		4,439
Atento Luxco 1 SA					3 Month USD LIBOR + 4.82%
6.13%, 08/10/2022(b)		1,615		1,579	Credit Acceptance Corp
Blitz F18-674 GmbH					7.38%, 03/15/2023		2,994		3,073
6.00%, 07/30/2026	EUR	200		229	Credito Real SAB de CV SOFOM ER
CAR Inc					7.25%, 07/20/2023		1,400		1,377
6.13%, 02/04/2020	$	1,500		1,484	E*TRADE Financial Corp
Jaguar Holding Co II / Pharmaceutical Product					5.30%, 12/31/2049(h),(j)		1,805		1,639
Development LLC					3 Month USD LIBOR + 3.16%
6.38%, 08/01/2023(b)		4,500		4,478	goeasy Ltd
Loxam SAS					7.88%, 11/01/2022(b)		2,000		2,095
6.00%, 04/15/2025	EUR	500		589	International Personal Finance PLC
Mersin Uluslararasi Liman Isletmeciligi AS					5.75%, 04/07/2021	EUR	1,000		1,039
5.88%, 08/12/2020	$	2,820		2,823	Ladder Capital Finance Holdings LLLP / Ladder
Midas Intermediate Holdco II LLC / Midas					Capital Finance Corp
Intermediate Holdco II Finance Inc					5.25%, 10/01/2025(b)	$	11,800		10,944
7.88%, 10/01/2022(b)		7,988		7,389	Lincoln Finance Ltd
Nielsen Finance LLC / Nielsen Finance Co					7.38%, 04/15/2021(b)		5,150		5,202
5.00%, 04/15/2022(b)		3,975		3,969	Lions Gate Capital Holdings LLC
Refinitiv US Holdings Inc					5.88%, 11/01/2024(b)		1,315		1,292
6.25%, 05/15/2026(b)		14,850		14,590	LoanCore Capital Markets LLC / JLC Finance
8.25%, 11/15/2026(b)		680		637	Corp
ServiceMaster Co LLC/The					6.88%, 06/01/2020(b)		2,275		2,281
5.13%, 11/15/2024(b)		11,225		10,972	Mongolian Mortgage Corp Hfc LLC
Team Health Holdings Inc					9.75%, 01/29/2022(b)		3,300		3,299
6.38%, 02/01/2025(b)		22,820		18,598	National Rural Utilities Cooperative Finance Corp
		$		67,337	5.25%, 04/20/2046(j)		2,200		2,138
Computers - 0.29%					3 Month USD LIBOR + 3.63%
Apple Inc					NFP Corp
0.35%, 06/10/2020	JPY	130,000		1,199	6.88%, 07/15/2025(b)		28,945		27,498
Banff Merger Sub Inc					Oxford Finance LLC / Oxford Finance Co-Issuer
9.75%, 09/01/2026(b)	$	6,000		5,715	II Inc
International Business Machines Corp					6.38%, 12/15/2022(b)		6,075		6,151
5.60%, 11/30/2039		800		902	Quicken Loans Inc
					5.75%, 05/01/2025(b)		4,489		4,332

See accompanying notes.

48

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Diversified Financial Services (continued)					Electric (continued)
Springleaf Finance Corp					Southern Co/The
6.88%, 03/15/2025	$	2,795	$	2,673	2.95%, 07/01/2023	$	2,000	$	1,964
Swiss Insured Brazil Power Finance Sarl					Termocandelaria Power Ltd
9.85%, 07/16/2032(b)	BRL	25,030		7,103	7.88%, 01/30/2029(b)		2,200		2,263
Vantiv LLC / Vantiv Issuer Corp					Vistra Energy Corp
3.88%, 11/15/2025	GBP	600		760	7.38%, 11/01/2022		1,410		1,466
4.38%, 11/15/2025(b)	$	1,820		1,747	8.13%, 01/30/2026(b)		345		373
		$		122,795	Vistra Operations Co LLC
Electric - 1.13%					5.50%, 09/01/2026(b)		890		901
Acwa Power Management And Investments One							$		86,500
Ltd					Electrical Components & Equipment - 0.08%
5.95%, 12/15/2039(b)		9,637		9,444	Belden Inc
Brookfield Infrastructure Finance ULC					2.88%, 09/15/2025	EUR	500		557
3.32%, 02/22/2024	CAD	3,800		2,862	Energizer Gamma Acquisition BV
Calpine Corp					4.63%, 07/15/2026		550		617
5.75%, 01/15/2025	$	7,100		6,692	Energizer Holdings Inc
Clearway Energy Operating LLC					5.50%, 06/15/2025(b)	$	505		481
5.75%, 10/15/2025(b)		580		536	6.38%, 07/15/2026(b)		610		593
Cometa Energia SA de CV					WESCO Distribution Inc
6.38%, 04/24/2035(b)		3,948		3,790	5.38%, 06/15/2024		3,861		3,813
Comision Federal de Electricidad							$		6,061
4.88%, 01/15/2024		1,250		1,247	Electronics - 0.04%
Duke Energy Corp					Resideo Funding Inc
3.75%, 09/01/2046		1,000		897	6.13%, 11/01/2026(b)		2,950		3,038
Emera Inc					Energy - Alternate Sources - 0.12%
6.75%, 06/15/2076(j)		4,400		4,488	Azure Power Energy Ltd
3 Month USD LIBOR + 5.44%					5.50%, 11/03/2022		700		679
Emera US Finance LP					Rio Energy SA / UGEN SA / UENSA SA
4.75%, 06/15/2046		800		778	6.88%, 02/01/2025(b)		10,841		8,646
Enel Chile SA							$		9,325
4.88%, 06/12/2028		200		205	Engineering & Construction - 0.22%
Enel SpA					Aeropuerto Internacional de Tocumen SA
8.75%, 09/24/2073(b),(j)		2,500		2,675	6.00%, 11/18/2048(b)		4,835		4,998
USD Swap Semi-Annual 5 Year + 5.88%					Aeropuertos Dominicanos Siglo XXI SA
Eskom Holdings SOC Ltd					6.75%, 03/30/2029(b)		1,750		1,744
5.75%, 01/26/2021(b)		1,715		1,680	Hongkong International Qingdao Co Ltd
6.35%, 08/10/2028(b)		2,330		2,387	4.75%, 02/12/2020		600		596
7.13%, 02/11/2025(b)		181		178	Indo Energy Finance II BV
7.85%, 04/02/2026	ZAR	77,500		5,259	6.38%, 01/24/2023		2,746		2,665
8.45%, 08/10/2028(b)	$	4,559		4,711	MasTec Inc
FirstEnergy Corp					4.88%, 03/15/2023		1,220		1,223
7.38%, 11/15/2031		1,250		1,596	Mexico City Airport Trust
Fortis Inc/Canada					5.50%, 07/31/2047(b)		3,775		3,344
3.06%, 10/04/2026		2,000		1,862	Tutor Perini Corp
Genneia SA					6.88%, 05/01/2025(b)		1,240		1,226
8.75%, 01/20/2022(b)		1,685		1,562	Zhaohai Investment BVI Ltd
Lamar Funding Ltd					4.00%, 07/23/2020		1,000		966
3.96%, 05/07/2025		500		420			$		16,762
LLPL Capital Pte Ltd
6.88%, 02/04/2039(b),(i)		2,000		2,089	Entertainment - 0.83%
Minejesa Capital BV					AMC Entertainment Holdings Inc
4.63%, 08/10/2030(b)		4,327		4,065	5.88%, 11/15/2026		13,595		12,236
Naturgy Finance BV					6.13%, 05/15/2027		4,080		3,631
3.38%, 12/31/2049(h),(j)	EUR	300		337	Boyne USA Inc
EUR Swap Annual (VS 6 Month) 9 Year					7.25%, 05/01/2025(b)		8,975		9,446
+ 3.08%					Caesars Resort Collection LLC / CRC Finco Inc
Origin Energy Finance Ltd					5.25%, 10/15/2025(b)		13,270		12,424
3.50%, 10/04/2021		3,250		3,983	Cinemark USA Inc
Pampa Energia SA					4.88%, 06/01/2023		7,575		7,499
7.38%, 07/21/2023	$	1,000		948	Eldorado Resorts Inc
7.38%, 07/21/2023(b)		2,600		2,464	6.00%, 09/15/2026(b)		635		633
7.50%, 01/24/2027(b)		12,546		11,135	7.00%, 08/01/2023		430		449
Perusahaan Listrik Negara PT					International Game Technology PLC
4.13%, 05/15/2027		700		675	6.25%, 02/15/2022(b)		9,300		9,626
RWE AG					6.25%, 01/15/2027(b)		4,900		4,967
3.50%, 04/21/2075(j)	EUR	500		568	6.50%, 02/15/2025(b)		1,415		1,473
EUR Swap Annual (VS 6 Month) 5 Year					Sisal Group SpA
+ 3.25%					7.00%, 07/31/2023	EUR	300		344

See accompanying notes.

49

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s) Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Entertainment (continued)					Gas (continued)
WMG Acquisition Corp					Perusahaan Gas Negara Persero Tbk
4.13%, 11/01/2024	EUR	630	$	750	5.13%, 05/16/2024	$	1,400	$	1,429
		$		63,478			$		3,571
Environmental Control - 0.21%					Hand & Machine Tools - 0.27%
Covanta Holding Corp					Apex Tool Group LLC / BC Mountain Finance
6.00%, 01/01/2027	$	3,875		3,710	Inc
GFL Environmental Inc					9.00%, 02/15/2023(b)		22,820		20,538
5.38%, 03/01/2023(b)		8,000		7,480	Healthcare - Products - 0.24%
5.63%, 05/01/2022(b)		4,000		3,844	Abbott Ireland Financing DAC
Waste Pro USA Inc					0.00%, 09/27/2020(a)	EUR	2,900		3,310
5.50%, 02/15/2026(b)		875		849	Avantor Inc
		$		15,883	9.00%, 10/01/2025(b)	$	10,700		11,021
Food - 0.83%					Boston Scientific Corp
Arcor SAIC					4.00%, 03/01/2028		800		805
6.00%, 07/06/2023		250		241	Medtronic Inc
Boparan Finance PLC					3.50%, 03/15/2025		3,500		3,565
5.50%, 07/15/2021	GBP	200		198			$		18,701
Casino Guichard Perrachon SA					Healthcare - Services - 3.27%
4.50%, 03/07/2024	EUR	500		552	Acadia Healthcare Co Inc
Cencosud SA					5.63%, 02/15/2023		6,400		6,288
4.38%, 07/17/2027(b)	$	3,000		2,732	Anthem Inc
Grupo Bimbo SAB de CV					3.65%, 12/01/2027		1,700		1,672
5.95%, 12/31/2049(b),(h),(j)		3,250		3,213	Centene Corp
US Treasury Yield Curve Rate T Note					5.38%, 06/01/2026(b)		785		811
Constant Maturity 5 Year + 3.28%					6.13%, 02/15/2024		1,880		1,969
Ingles Markets Inc					DaVita Inc
5.75%, 06/15/2023		1,830		1,848	5.00%, 05/01/2025		5,000		4,812
JBS Investments GmbH					5.13%, 07/15/2024		14,750		14,570
6.25%, 02/05/2023(b)		3,915		3,935	Eagle Holding Co II LLC
JBS USA LUX SA / JBS USA Finance Inc					7.63%, PIK 8.38%, 05/15/2022(b),(k),(l)		8,500		8,500
5.75%, 06/15/2025(b)		150		150	Encompass Health Corp
7.25%, 06/01/2021(b)		2,315		2,337	5.75%, 11/01/2024		13,837		13,993
KeHE Distributors LLC / KeHE Finance Corp					5.75%, 09/15/2025		1,350		1,363
7.63%, 08/15/2021(b)		4,395		4,153	Envision Healthcare Corp
MARB BondCo PLC					8.75%, 10/15/2026(b)		30,795		28,082
6.88%, 01/19/2025(b)		8,598		8,215	HCA Inc
Minerva Luxembourg SA					5.38%, 09/01/2026		4,075		4,171
5.88%, 01/19/2028(b)		5,250		4,725	5.63%, 09/01/2028		4,725		4,886
6.50%, 09/20/2026(b)		8,464		8,104	5.88%, 05/01/2023		5,725		6,054
Nestle Holdings Inc					MPH Acquisition Holdings LLC
4.00%, 09/24/2048(b)		1,350		1,363	7.13%, 06/01/2024(b)		6,000		5,958
Post Holdings Inc					One Call Corp
5.00%, 08/15/2026(b)		7,505		7,094	7.50%, 07/01/2024(b)		33,182		31,191
5.50%, 03/01/2025(b)		4,400		4,356	10.00%, 10/01/2024(b)		23,838		18,474
Sigma Holdco BV					Parkway Pantai Ltd
7.88%, 05/15/2026(b)		1,925		1,710	4.25%, 12/31/2049(h),(j)		750		708
Tesco PLC					US Treasury Yield Curve Rate T Note
6.13%, 02/24/2022	GBP	900		1,305	Constant Maturity 5 Year + 4.43%
US Foods Inc					Polaris Intermediate Corp
5.88%, 06/15/2024(b)	$	6,918		7,038	8.50%, PIK 9.25%, 12/01/2022(b),(k),(l)		40,207		38,900
		$		63,269	RegionalCare Hospital Partners Holdings Inc
Food Service - 0.01%					8.25%, 05/01/2023(b)		17,150		18,093
Aramark International Finance Sarl					RegionalCare Hospital Partners Holdings Inc /
3.13%, 04/01/2025	EUR	400		469	LifePoint Health Inc
Forest Products & Paper - 0.17%					9.75%, 12/01/2026(b)		2,800		2,794
Smurfit Kappa Acquisitions ULC					Surgery Center Holdings Inc
2.75%, 02/01/2025		400		474	6.75%, 07/01/2025(b)		21,328		19,728
Suzano Austria GmbH					Tenet Healthcare Corp
6.00%, 01/15/2029	$	1,400		1,465	4.63%, 07/15/2024		2,650		2,596
6.00%, 01/15/2029(b)		2,800		2,929	5.13%, 05/01/2025		11,400		11,139
7.00%, 03/16/2047(b)		7,705		8,341	UnitedHealth Group Inc
		$		13,209	6.88%, 02/15/2038		1,250		1,675
Gas - 0.05%					WellCare Health Plans Inc
NGL Energy Partners LP / NGL Energy Finance					5.25%, 04/01/2025		2,160		2,192
Corp							$		250,619
7.50%, 11/01/2023		2,115		2,142	Holding Companies - Diversified - 0.25%
					CK Hutchison Finance 16 Ltd
					1.25%, 04/06/2023	EUR	2,700		3,137

See accompanying notes.

50

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s) Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Holding Companies - Diversified (continued)					Insurance (continued)
ProGroup AG					Fortune Star BVI Ltd
3.00%, 03/31/2026	EUR	450	$	512	5.25%, 03/23/2022	$	1,500	$	1,411
Trident Merger Sub Inc					Great-West Life & Annuity Insurance Capital LP
6.63%, 11/01/2025(b)	$	16,791		15,616	6.63%, 11/15/2034(b)		2,400		2,642
		$		19,265	Hartford Financial Services Group Inc/The
Home Builders - 0.06%					4.74%, 02/12/2067(b)		3,000		2,565
Lennar Corp					3 Month USD LIBOR + 2.13%
4.50%, 04/30/2024		1,790		1,759	HUB International Ltd
Taylor Morrison Communities Inc / Taylor					7.00%, 05/01/2026(b)		32,300		31,332
Morrison Holdings II Inc					Legal & General Group PLC
5.63%, 03/01/2024(b)		1,755		1,720	5.25%, 03/21/2047(j)		3,000		2,853
Williams Scotsman International Inc					USD Swap Semi-Annual 5 Year + 3.69%
7.88%, 12/15/2022(b)		1,200		1,212	Liberty Mutual Group Inc
		$		4,691	4.85%, 08/01/2044(b)		1,500		1,476
Home Furnishings - 0.10%					7.80%, 03/07/2087(b)		9,861		11,131
Arcelik AS					3 Month USD LIBOR + 3.58%
5.00%, 04/03/2023		7,500		7,095	Liberty Mutual Insurance Co
Panasonic Corp					7.70%, 10/15/2097(b)		946		1,270
0.39%, 03/19/2020	JPY	100,000		921	Lincoln National Corp
		$		8,016	4.80%, 04/20/2067		5,584		4,579
Insurance - 3.71%					3 Month USD LIBOR + 2.04%
Acrisure LLC / Acrisure Finance Inc					Mapfre SA
7.00%, 11/15/2025(b)	$	20,525		17,857	1.63%, 05/19/2026	EUR	2,000		2,283
AIG Life Holdings Inc					Meiji Yasuda Life Insurance Co
8.50%, 07/01/2030		5,400		6,588	5.20%, 10/20/2045(b),(j)	$	3,500		3,583
Alliant Holdings Intermediate LLC / Alliant					USD Swap Semi-Annual 5 Year + 4.23%
Holdings Co-Issuer					MetLife Inc
8.25%, 08/01/2023(b)		45,477		46,159	5.25%, 12/31/2049(h),(j)		8,000		8,024
Allstate Corp/The					3 Month USD LIBOR + 3.58%
5.75%, 08/15/2053(j)		4,808		4,784	9.25%, 04/08/2068(b)		11,000		14,217
3 Month USD LIBOR + 2.94%					3 Month USD LIBOR + 5.54%
American International Group Inc					10.75%, 08/01/2069		900		1,350
5.75%, 04/01/2048(j)		3,700		3,459	Provident Financing Trust I
3 Month USD LIBOR + 2.87%					7.41%, 03/15/2038		700		721
8.18%, 05/15/2068(j)		4,850		5,672	Prudential Financial Inc
3 Month USD LIBOR + 4.20%					5.88%, 09/15/2042		4,250		4,420
Assicurazioni Generali SpA					3 Month USD LIBOR + 8.35%
5.13%, 09/16/2024	EUR	2,650		3,615	Scottish Widows Ltd
AssuredPartners Inc					5.50%, 06/16/2023	GBP	1,000		1,447
7.00%, 08/15/2025(b)	$	44,853		42,834	Talanx AG
AXA SA					2.25%, 12/05/2047(j)	EUR	200		215
6.38%, 12/29/2049(b),(h),(j)		3,500		3,569	3 Month Euro Interbank Offered Rate +
3 Month USD LIBOR + 2.26%					2.45%
Berkshire Hathaway Inc					USIS Merger Sub Inc
1.13%, 03/16/2027	EUR	2,500		2,849	6.88%, 05/01/2025(b)	$	8,085		7,762
Brighthouse Financial Inc					Voya Financial Inc
3.70%, 06/22/2027	$	3,000		2,624	5.65%, 05/15/2053		9,605		9,317
Caisse Nationale de Reassurance Mutuelle					3 Month USD LIBOR + 7.16%
Agricole Groupama					6.13%, 12/31/2049(h),(j)		800		792
6.38%, 12/31/2049(h),(j)	EUR	600		756	US Treasury Yield Curve Rate T Note
3 Month Euro Interbank Offered Rate +					Constant Maturity 5 Year + 3.36%
5.77%					XLIT Ltd
Catlin Insurance Co Ltd					5.24%, 12/31/2049(h)		1,130		1,076
5.74%, 07/29/2049(b),(h)	$	8,670		8,344	3 Month USD LIBOR + 2.46%
3 Month USD LIBOR + 5.95%							$		283,701
CCB Life Insurance Co Ltd					Internet - 0.50%
4.50%, 04/21/2077(j)		1,000		908	Alibaba Group Holding Ltd
US Treasury Yield Curve Rate T Note					3.40%, 12/06/2027		3,700		3,533
Constant Maturity 5 Year + 2.68%					Baidu Inc
China Life Insurance Co Ltd					4.88%, 11/14/2028		4,280		4,450
4.00%, 07/03/2075(j)		800		777	Booking Holdings Inc
US Treasury Yield Curve Rate T Note					3.60%, 06/01/2026		1,200		1,180
Constant Maturity 5 Year + 2.29%					JD.com Inc
Cloverie PLC for Zurich Insurance Co Ltd					3.13%, 04/29/2021		1,400		1,369
5.63%, 06/24/2046(j)		5,300		5,518	Netflix Inc
3 Month USD LIBOR + 4.92%					3.63%, 05/15/2027	EUR	500		570
Fidelity & Guaranty Life Holdings Inc					4.38%, 11/15/2026	$	1,885		1,785
5.50%, 05/01/2025(b)		13,425		12,922	5.50%, 02/15/2022		6,260		6,498

See accompanying notes.

51

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Internet (continued)					Media - 2.35%
Zayo Group LLC / Zayo Capital Inc					Altice Financing SA
5.75%, 01/15/2027(b)	$	5,500	$	5,314	6.63%, 02/15/2023(b)	$	10,440	$	10,495
6.00%, 04/01/2023		13,525		13,593	Altice Finco SA
		$		38,292	4.75%, 01/15/2028	EUR	1,600		1,510
Iron & Steel - 1.65%					Altice France SA/France
ArcelorMittal					7.38%, 05/01/2026(b)	$	7,550		7,276
6.25%, 02/25/2022		3,070		3,259	8.13%, 02/01/2027(b)		1,350		1,326
Baffinland Iron Mines Corp / Baffinland Iron					Altice Luxembourg SA
Mines LP					7.63%, 02/15/2025(b)		6,375		5,419
8.75%, 07/15/2026(b)		23,730		23,552	AMC Networks Inc
Big River Steel LLC / BRS Finance Corp					4.75%, 08/01/2025		2,745		2,652
7.25%, 09/01/2025(b)		3,550		3,727	5.00%, 04/01/2024		9,675		9,602
CSN Resources SA					Cablevision SA
6.50%, 07/21/2020		12,378		12,189	6.50%, 06/15/2021		500		488
GTL Trade Finance Inc					CCO Holdings LLC / CCO Holdings Capital Corp
7.25%, 04/16/2044(b)		4,820		5,180	5.13%, 05/01/2023(b)		4,450		4,510
JSW Steel Ltd					5.50%, 05/01/2026(b)		2,905		2,898
5.25%, 04/13/2022		650		645	5.88%, 04/01/2024(b)		12,975		13,302
Material Sciences Corp					Charter Communications Operating LLC / Charter
10.64%, 01/09/2024(c),(d),(e)		22,010		22,010	Communications Operating Capital
Metinvest BV					4.46%, 07/23/2022		2,450		2,499
7.75%, 04/23/2023		7,150		6,810	CSC Holdings LLC
Samarco Mineracao SA					5.25%, 06/01/2024		10,410		9,993
0.00%, 11/01/2022(a),(b)		2,800		1,684	5.38%, 02/01/2028(b)		4,676		4,495
0.00%, 10/24/2023(a),(b)		2,405		1,496	DISH DBS Corp
Specialty Steel					5.88%, 11/15/2024		1,565		1,297
12.85%, 11/15/2022(c),(e)		41,564		41,564	7.75%, 07/01/2026		3,010		2,589
thyssenkrupp AG					Grupo Televisa SAB
1.38%, 03/03/2022	EUR	700		795	5.00%, 05/13/2045		600		547
Vale Overseas Ltd					Meredith Corp
6.88%, 11/10/2039	$	3,000		3,330	6.88%, 02/01/2026(b)		2,430		2,503
		$		126,241	Midcontinent Communications / Midcontinent
Leisure Products & Services - 0.04%					Finance Corp
Constellation Merger Sub Inc					6.88%, 08/15/2023(b)		1,700		1,751
8.50%, 09/15/2025(b)		3,000		2,884	Quebecor Media Inc
Lodging - 0.67%					5.75%, 01/15/2023		13,800		14,214
Boyd Gaming Corp					Shaw Communications Inc
6.00%, 08/15/2026		8,200		8,200	6.75%, 11/09/2039	CAD	1,100		1,027
Gohl Capital Ltd					Sirius XM Radio Inc
4.25%, 01/24/2027		600		575	4.63%, 05/15/2023(b)	$	2,875		2,871
Jack Ohio Finance LLC / Jack Ohio Finance 1					6.00%, 07/15/2024(b)		8,050		8,362
Corp					Sky Ltd
10.25%, 11/15/2022(b)		12,280		13,232	2.50%, 09/15/2026	EUR	2,000		2,450
MGM Resorts International					SportsNet New York
5.75%, 06/15/2025		8,225		8,266	10.25%, 01/15/2025(c),(d),(e)	$	20,090		21,094
Sands China Ltd					Telenet Finance VI Luxembourg SCA
5.40%, 08/08/2028		4,000		3,950	4.88%, 07/15/2027	EUR	630		774
5.40%, 08/08/2028(b)		2,195		2,168	Townsquare Media Inc
Station Casinos LLC					6.50%, 04/01/2023(b)	$	9,252		8,558
5.00%, 10/01/2025(b)		9,675		9,240	UPC Holding BV
Wynn Las Vegas LLC / Wynn Las Vegas Capital					3.88%, 06/15/2029	EUR	500		541
Corp					Virgin Media Finance PLC
5.25%, 05/15/2027(b)		1,840		1,720	5.75%, 01/15/2025(b)	$	9,600		9,460
Wynn Macau Ltd					6.00%, 10/15/2024(b)		5,275		5,343
5.50%, 10/01/2027(b)		4,700		4,289	Virgin Media Secured Finance PLC
		$		51,640	5.50%, 01/15/2025(b)		1,500		1,515
					Walt Disney Co/The
Machinery - Diversified - 0.43%					2.95%, 06/15/2027		4,000		3,885
Cloud Crane LLC					Ziggo Bond Co BV
10.13%, 08/01/2024(b)		1,220		1,299	4.63%, 01/15/2025	EUR	750		867
JPW Industries Holding Corp					5.88%, 01/15/2025(b)	$	3,180		2,981
9.00%, 10/01/2024(b)		17,080		17,080	6.00%, 01/15/2027(b)		4,400		4,054
Mueller Water Products Inc					7.13%, 05/15/2024	EUR	300		361
5.50%, 06/15/2026(b)		1,175		1,181	Ziggo BV
Titan Acquisition Ltd / Titan Co-Borrower LLC					5.50%, 01/15/2027(b)	$	6,625		6,261
7.75%, 04/15/2026(b)		15,320		13,405			$		179,770
		$		32,965

See accompanying notes.

52

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Metal Fabrication & Hardware - 0.42%					Oil & Gas (continued)
Novelis Corp					Energy Ventures Gom LLC / EnVen Finance Corp
6.25%, 08/15/2024(b)	$	3,800	$	3,824	11.00%, 02/15/2023(b)	$	6,270	$	6,709
Optimas OE Solutions Holding LLC / Optimas					Extraction Oil & Gas Inc
OE Solutions Inc					5.63%, 02/01/2026(b)		7,225		5,924
8.63%, 06/01/2021(b)		29,884		27,643	7.38%, 05/15/2024(b)		6,370		5,892
Park-Ohio Industries Inc					Geopark Ltd
6.63%, 04/15/2027		885		860	6.50%, 09/21/2024(b)		5,493		5,314
		$		32,327	Gran Tierra Energy International Holdings Ltd
Mining - 1.11%					6.25%, 02/15/2025(b)		3,666		3,455
Century Aluminum Co					Gulfport Energy Corp
7.50%, 06/01/2021(b)		7,335		7,317	6.00%, 10/15/2024		9,716		9,133
Constellium NV					6.38%, 05/15/2025		6,650		6,300
5.88%, 02/15/2026(b)		2,890		2,767	Hess Infrastructure Partners LP / Hess
First Quantum Minerals Ltd					Infrastructure Partners Finance Corp
6.88%, 03/01/2026(b)		6,265		5,678	5.63%, 02/15/2026(b)		4,835		4,787
7.25%, 05/15/2022(b)		646		636	HollyFrontier Corp
7.50%, 04/01/2025(b)		6,610		6,160	5.88%, 04/01/2026		1,500		1,555
Freeport-McMoRan Inc					Jagged Peak Energy LLC
5.45%, 03/15/2043		2,898		2,492	5.88%, 05/01/2026(b)		9,805		9,462
Glencore Finance Europe Ltd					KazMunayGas National Co JSC
1.88%, 09/13/2023	EUR	2,000		2,322	6.38%, 10/24/2048(b)		5,000		5,337
Hudbay Minerals Inc					Matador Resources Co
7.63%, 01/15/2025(b)	$	955		981	5.88%, 09/15/2026		8,692		8,659
IAMGOLD Corp					Medco Platinum Road Pte Ltd
7.00%, 04/15/2025(b)		1,982		1,935	6.75%, 01/30/2025(b)		3,190		2,909
Indonesia Asahan Aluminium Persero PT					MEG Energy Corp
6.53%, 11/15/2028(b)		9,003		9,883	6.38%, 01/30/2023(b)		12,435		11,005
Newmont Mining Corp					7.00%, 03/31/2024(b)		16,797		14,823
4.88%, 03/15/2042		1,000		985	Nostrum Oil & Gas Finance BV
Northwest Acquisitions ULC / Dominion Finco					7.00%, 02/16/2025(b)		4,421		2,900
Inc					Oasis Petroleum Inc
7.13%, 11/01/2022(b)		10,190		10,151	6.25%, 05/01/2026(b)		670		636
Petropavlovsk 2016 Ltd					6.88%, 01/15/2023		2,430		2,409
8.13%, 11/14/2022		500		431	Odebrecht Drilling Norbe VIII/IX Ltd
Real Alloy Holding Inc					6.35%, 12/01/2021		2,573		2,496
0.00%, 01/15/2019(a),(b),(c),(e)		9,569		—	Oil and Gas Holding Co BSCC/The
12.39%, 11/30/2023(c),(d),(e)		20,356		20,356	7.63%, 11/07/2024(b)		3,020		3,204
Southern Copper Corp					PDC Energy Inc
5.88%, 04/23/2045		300		317	5.75%, 05/15/2026		4,725		4,430
Teck Resources Ltd					Pertamina Persero PT
6.25%, 07/15/2041		1,065		1,110	6.00%, 05/03/2042		4,273		4,503
Vale Canada Ltd					6.00%, 05/03/2042(b)		3,000		3,162
7.20%, 09/15/2032		2,505		2,605	Petroamazonas EP
Vedanta Resources PLC					4.63%, 02/16/2020(b)		1,830		1,789
6.13%, 08/09/2024(b)		9,696		8,820	4.63%, 11/06/2020(b)		5,750		5,497
7.13%, 05/31/2023(b)		99		96	Petrobras Global Finance BV
		$		85,042	6.00%, 01/27/2028		1,100		1,098
Oil & Gas - 4.04%					Petroleos de Venezuela SA
Anadarko Petroleum Corp					0.00%, 11/17/2021(a)		17,250		4,968
6.60%, 03/15/2046		800		952	0.00%, 05/16/2024(a)		38,002		9,349
Antero Resources Corp					0.00%, 11/15/2026(a)		12,045		2,650
5.13%, 12/01/2022		4,200		4,195	0.00%, 04/12/2027(a)		425		107
Brazos Valley Longhorn LLC / Brazos Valley					0.00%, 05/17/2035(a)		536		153
Longhorn Finance Corp					0.00%, 04/12/2037(a)		12,840		3,249
6.88%, 02/01/2025		2,450		2,480	8.50%, 10/27/2020		1,028		963
Callon Petroleum Co					Petroleos Mexicanos
6.13%, 10/01/2024		6,876		6,893	4.50%, 01/23/2026		8,950		7,876
Chevron Corp					5.35%, 02/12/2028		12,068		10,559
1.96%, 03/03/2020		3,500		3,474	6.38%, 01/23/2045		4,915		4,186
CNOOC Petroleum North America ULC					6.42%, 03/11/2022		2,535		2,558
5.88%, 03/10/2035		100		116	3 Month USD LIBOR + 3.65%
Continental Resources Inc/OK					6.50%, 03/13/2027		7,756		7,442
5.00%, 09/15/2022		3,250		3,266	6.50%, 01/23/2029		4,685		4,414
CrownRock LP / CrownRock Finance Inc					6.75%, 09/21/2047		7,270		6,336
5.63%, 10/15/2025(b)		375		360	6.88%, 08/04/2026		1,624		1,610
Ecopetrol SA					7.19%, 09/12/2024	MXN	420,000		17,242
5.88%, 05/28/2045		400		394	7.47%, 11/12/2026		300,000		11,688
					9.50%, 09/15/2027	$	1,204		1,375

See accompanying notes.

53

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Oil & Gas (continued)					Packaging & Containers (continued)
Petron Corp					Reynolds Group Issuer Inc / Reynolds
4.60%, 12/31/2049(h),(j)	$	750	$	703	Group Issuer LLC / Reynolds Group Issuer
US Treasury Yield Curve Rate T Note					(Luxembourg) S.A.
Constant Maturity 5 Year + 4.77%					5.13%, 07/15/2023(b)	$	12,240	$	12,263
Petronas Capital Ltd					Silgan Holdings Inc
4.50%, 03/18/2045		350		363	3.25%, 03/15/2025	EUR	600		705
Repsol International Finance BV					W/S Packaging Holdings Inc
4.50%, 03/25/2075(j)	EUR	300		363	9.00%, 04/15/2023(b)	$	14,920		14,995
EUR Swap Annual (VS 6 Month) 10 Year							$		51,397
+ 4.20%					Pharmaceuticals - 0.64%
SandRidge Energy Inc					Allergan Funding SCS
0.00%, 03/15/2021(a),(c),(e)	$	3,450		—	3.85%, 06/15/2024		3,300		3,310
SEPLAT Petroleum Development Co Plc					AstraZeneca PLC
9.25%, 04/01/2023(b)		4,000		4,080	4.00%, 01/17/2029		1,150		1,162
Southwestern Energy Co					Bausch Health Cos Inc
7.75%, 10/01/2027		2,130		2,194	5.63%, 12/01/2021(b)		883		884
SRC Energy Inc					5.88%, 05/15/2023(b)		6,000		5,872
6.25%, 12/01/2025		9,175		8,143	Bayer Capital Corp BV
Sunoco LP / Sunoco Finance Corp					2.13%, 12/15/2029	EUR	2,000		2,272
4.88%, 01/15/2023		5,020		4,945	Grifols SA
5.50%, 02/15/2026		7,145		7,056	3.20%, 05/01/2025		450		514
Tecpetrol SA					Johnson & Johnson
4.88%, 12/12/2022		8,000		7,441	3.55%, 03/01/2036	$	3,250		3,205
TOTAL SA					Mylan NV
2.63%, 12/31/2049(h),(j)	EUR	2,000		2,312	3.95%, 06/15/2026		2,500		2,362
EUR Swap Annual (VS 6 Month) 5 Year					NVA Holdings Inc/United States
+ 2.15%					6.88%, 04/01/2026(b)		25,620		24,460
Tullow Oil PLC					Takeda Pharmaceutical Co Ltd
7.00%, 03/01/2025(b)	$	3,250		3,166	0.38%, 11/21/2020	EUR	2,900		3,315
Tupras Turkiye Petrol Rafinerileri AS					Teva Pharmaceutical Finance Netherlands III BV
4.50%, 10/18/2024		600		546	4.10%, 10/01/2046	$	1,200		881
Ultrapar International SA					Valeant Pharmaceuticals International
5.25%, 10/06/2026		200		201	8.50%, 01/31/2027(b)		505		528
Unit Corp							$		48,765
6.63%, 05/15/2021		2,190		2,070	Pipelines - 0.30%
Valero Energy Corp					AI Candelaria Spain SLU
6.63%, 06/15/2037		900		1,047	7.50%, 12/15/2028(b)		3,500		3,444
YPF SA					Antero Midstream Partners LP / Antero
8.50%, 03/23/2021		300		306	Midstream Finance Corp
8.50%, 03/23/2021(b)		2,080		2,118	5.38%, 09/15/2024		4,765		4,670
8.50%, 07/28/2025(b)		4,135		4,048	Energy Transfer Operating LP
8.50%, 07/28/2025		750		734	4.95%, 06/15/2028		1,500		1,519
8.75%, 04/04/2024(b)		5,070		5,099	Holly Energy Partners LP / Holly Energy Finance
		$		309,178	Corp
Oil & Gas Services - 0.02%					6.00%, 08/01/2024(b)		8,950		9,017
USA Compression Partners LP / USA					Summit Midstream Holdings LLC / Summit
Compression Finance Corp					Midstream Finance Corp
6.88%, 04/01/2026		1,180		1,180	5.75%, 04/15/2025		1,110		1,041
Packaging & Containers - 0.67%					Sunoco Logistics Partners Operations LP
Ardagh Packaging Finance PLC / Ardagh					5.40%, 10/01/2047		750		708
Holdings USA Inc					Transportadora de Gas del Sur SA
4.75%, 07/15/2027	GBP	600		714	6.75%, 05/02/2025		800		746
6.00%, 02/15/2025(b)	$	1,9 15		1,862	Williams Cos Inc/The
6.75%, 05/15/2024	EUR	4,100		4,957	3.60%, 03/15/2022		1,000		1,001
Ball Corp					6.30%, 04/15/2040		700		800
4.38%, 12/15/2023		800		1,033			$		22,946
Crown Americas LLC / Crown Americas Capital					Private Equity - 0.03%
Corp VI					Icahn Enterprises LP / Icahn Enterprises Finance
4.75%, 02/01/2026(i)	$	325		319	Corp
Crown Cork & Seal Co Inc					5.88%, 02/01/2022		2,365		2,383
7.38%, 12/15/2026		3,685		4,021	Real Estate - 0.13%
Crown European Holdings SA					Chouzhou International Investment Ltd
3.38%, 05/15/2025	EUR	300		358	4.00%, 12/05/2020		1,000		969
OI European Group BV					Country Garden Holdings Co Ltd
3.13%, 11/15/2024		600		703	8.00%, 01/27/2024		1,500		1,518
Plastipak Holdings Inc					Ronshine China Holdings Ltd
6.25%, 10/15/2025(b)	$	10,490		9,467	8.25%, 02/01/2021		1,500		1,465

See accompanying notes.

54

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Real Estate (continued)					Semiconductors (continued)
Sino-Ocean Land Treasure IV Ltd					QUALCOMM Inc
5.04%, 07/31/2021	$	700	$	699	4.80%, 05/20/2045	$	500	$	487
3 Month USD LIBOR + 2.30%							$		2,524
Vonovia Finance BV					Software - 1.16%
2.25%, 12/15/2023	EUR	3,300		3,971	ACI Worldwide Inc
Wanda Properties International Co Ltd					5.75%, 08/15/2026(b)		8,400		8,665
7.25%, 01/29/2024	$	1,500		1,461	Ascend Learning LLC
		$		10,083	6.88%, 08/01/2025(b)		12,473		12,473
Regional Authority - 0.17%					Camelot Finance SA
Provincia de Buenos Aires/Argentina					7.88%, 10/15/2024(b)		1,500		1,545
5.75%, 06/15/2019		3,257		3,270	Change Healthcare Holdings LLC / Change
6.50%, 02/15/2023(b)		7,865		6,803	Healthcare Finance Inc
Provincia del Chaco Argentina					5.75%, 03/01/2025(b)		15,444		14,788
9.38%, 08/18/2024		3,321		2,557	Epicor Software Corp
		$		12,630	10.05%, 06/30/2023(b)		2,534		2,458
REITs - 1.14%					3 Month USD LIBOR + 7.25%
CoreCivic Inc					Genesys Telecommunications Laboratories
4.63%, 05/01/2023		10,000		9,375	Inc/Greeneden Lux 3 Sarl
Equinix Inc					10.00%, 11/30/2024(b)		15,500		16,624
2.88%, 02/01/2026	EUR	800		900	Infor US Inc
5.38%, 04/01/2023	$	2,400		2,427	6.50%, 05/15/2022		4,658		4,739
5.88%, 01/15/2026		1,895		1,957	Informatica LLC
ESH Hospitality Inc					7.13%, 07/15/2023(b)		7,242		7,260
5.25%, 05/01/2025(b)		12,535		12,392	InterXion Holding NV
GLP Capital LP / GLP Financing II Inc					4.75%, 06/15/2025	EUR	300		359
4.88%, 11/01/2020		3,250		3,296	IQVIA Inc
Iron Mountain Inc					3.25%, 03/15/2025		700		811
5.25%, 03/15/2028(b)		2,165		2,013	Oracle Corp
Iron Mountain UK PLC					4.13%, 05/15/2045	$	1,400		1,374
3.88%, 11/15/2025	GBP	600		748	PTC Inc
MGM Growth Properties Operating Partnership					6.00%, 05/15/2024		2,500		2,591
LP / MGP Finance Co-Issuer Inc					Sophia LP / Sophia Finance Inc
5.75%, 02/01/2027(b)	$	6,150		6,203	9.00%, 09/30/2023(b)		14,375		14,734
Uniti Group LP / Uniti Fiber Holdings Inc / CSL							$		88,421
Capital LLC					Sovereign - 11.80%
7.13%, 12/15/2024(b)		23,310		20,571	1MDB Global Investments Ltd
Uniti Group LP / Uniti Group Finance Inc / CSL					4.40%, 03/09/2023		28,600		26,704
Capital LLC					Abu Dhabi Government International Bond
8.25%, 10/15/2023		25,960		24,014	3.13%, 10/11/2027		1,000		977
Welltower Inc					Angolan Government International Bond
4.00%, 06/01/2025		3,100		3,104	8.25%, 05/09/2028		500		515
		$		87,000	8.25%, 05/09/2028(b)		3,500		3,604
Retail - 0.57%					Argentina Treasury Bill
1011778 BC ULC / New Red Finance Inc					0.00%, 05/31/2019(a)	ARS	104,975		3,215
4.25%, 05/15/2024(b)		1,050		1,016	0.00%, 10/31/2019(a)		56,000		1,750
5.00%, 10/15/2025(b)		10,968		10,584	0.00%, 04/30/2020(a)		58,000		1,782
Dollar Tree Inc					0.00%, 07/31/2020(a)		85,869		2,288
4.20%, 05/15/2028		1,900		1,801	Argentine Republic Government International
El Puerto de Liverpool SAB de CV					Bond
3.88%, 10/06/2026		500		467	0.00%, 12/15/2035(a),(k)	$	23,615		1,183
GOME Retail Holdings Ltd					2.26%, 12/31/2038(k)	EUR	11,600		7,907
5.00%, 03/10/2020		1,500		1,427	2.50%, 12/31/2038(k)	$	16,555		9,809
JC Penney Corp Inc					5.63%, 01/26/2022		3,590		3,258
8.63%, 03/15/2025(b)		205		115	6.63%, 07/06/2028		8,532		7,022
L Brands Inc					6.88%, 04/22/2021		419		400
6.75%, 07/01/2036		1,095		925	6.88%, 01/11/2048		234		179
Reliance Intermediate Holdings LP					7.13%, 07/06/2036		7,750		6,119
6.50%, 04/01/2023(b)		3,375		3,476	7.82%, 12/31/2033	EUR	9,179		9,527
SRS Distribution Inc					7.82%, 12/31/2033		37,323		38,334
8.25%, 07/01/2026(b)		23,740		22,909	Bahrain Government International Bond
Walmart Inc					6.75%, 09/20/2029(b)	$	1,393		1,409
5.63%, 03/27/2034	GBP	500		940	7.00%, 10/12/2028(b)		5,367		5,545
		$		43,660	7.50%, 09/20/2047(b)		926		923
Semiconductors - 0.03%					Bonos De La Nacion Argentina En Moneda Dua
Intel Corp					4.50%, 02/13/2020		2,848		2,745
4.10%, 05/19/2046	$	2,000		2,037	Bonos de la Tesoreria de la Republica en pesos
					4.50%, 03/01/2021	CLP	5,830,000		9,056
					4.50%, 03/01/2026	5,945,000			9,253

See accompanying notes.

55

Schedule of Investments
Global Diversified Income Fund
January 31, 2019 (unaudited)
	Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Sovereign (continued)					Sovereign (continued)
Brazil Letras do Tesouro Nacional					Indonesia Government International Bond
0.00%, 07/01/2020(a)	BRL	10,100	$	2,530	4.35%, 01/08/2027(b)	$	10,432	$	10,527
Brazil Notas do Tesouro Nacional Serie F					5.25%, 01/08/2047(b)		3,910		4,131
10.00%, 01/01/2025		44,870		13,104	6.63%, 02/17/2037		700		834
10.00%, 01/01/2029		30,125		8,854	Indonesia Treasury Bond
10.00%, 01/01/2021		41,773		12,030	6.63%, 05/15/2033	IDR	78,140,000		4,737
10.00%, 01/01/2023		31,000		9,024	7.50%, 08/15/2032	98,936,000			6,488
Brazilian Government International Bond					8.25%, 06/15/2032	60,140,000			4,201
4.25%, 01/07/2025	$	700		707	8.25%, 05/15/2036	231,100,000			16,201
4.63%, 01/13/2028		3,917		3,899	8.38%, 03/15/2024	76,609,000			5,565
5.00%, 01/27/2045		2,225		2,049	8.38%, 09/15/2026	144,000,000			10,368
5.63%, 01/07/2041		902		910	8.38%, 03/15/2034	59,889,000			4,239
5.63%, 02/21/2047		2,552		2,537	8.75%, 05/15/2031	68,915,000			5,043
7.13%, 01/20/2037		650		764	9.00%, 03/15/2029	47,850,000			3,585
Colombia Government International Bond					Instituto Costarricense de Electricidad
4.50%, 01/28/2026		1,400		1,442	6.95%, 11/10/2021	$	1,400		1,349
4.50%, 03/15/2029		2,025		2,073	Israel Government International Bond
5.20%, 05/15/2049		13,559		14,026	4.50%, 01/30/2043		750		781
Colombian TES					Ivory Coast Government International Bond
6.25%, 11/26/2025	COP 12,752,900			4,088	5.25%, 03/22/2030(b)	EUR	1,183		1,254
7.00%, 05/04/2022	17,564,600			5,902	5.25%, 03/22/2030		1,786		1,893
7.50%, 08/26/2026	9,675,000			3,312	5.75%, 12/31/2032(b),(k)	$	2,263		2,084
Croatia Government International Bond					6.13%, 06/15/2033		4,400		3,927
5.50%, 04/04/2023	$	1,350		1,441	6.13%, 06/15/2033(b)		18,302		16,335
Dominican Republic International Bond					6.63%, 03/22/2048	EUR	844		861
6.00%, 07/19/2028(b)		1,798		1,852	KazAgro National Management Holding JSC
6.85%, 01/27/2045(b)		1,605		1,657	4.63%, 05/24/2023(b)	$	1,244		1,260
Ecuador Government International Bond					Kenya Government International Bond
7.88%, 01/23/2028		450		399	6.88%, 06/24/2024		5,194		5,183
7.88%, 01/23/2028(b)		1,635		1,450	6.88%, 06/24/2024(b)		647		646
8.88%, 10/23/2027(b)		3,505		3,273	8.25%, 02/28/2048(b)		9,698		9,324
8.88%, 10/23/2027		3,000		2,801	Kuwait International Government Bond
10.75%, 01/31/2029(b)		8,335		8,504	3.50%, 03/20/2027		750		751
10.75%, 03/28/2022		2,000		2,113	Lebanon Government International Bond
Egypt Government International Bond					5.45%, 11/28/2019		607		594
4.75%, 04/16/2026(b)	EUR	1,896		2,025	6.15%, 06/19/2020		509		474
5.63%, 04/16/2030(b)		8,641		8,951	6.25%, 11/04/2024		3,002		2,497
6.88%, 04/30/2040(b)	$	876		753	6.38%, 03/09/2020		5,048		4,840
7.90%, 02/21/2048(b)		890		819	8.25%, 04/12/2021		6,438		6,116
7.90%, 02/21/2048		2,437		2,243	Mexican Bonos
8.50%, 01/31/2047(b)		7,468		7,180	6.50%, 06/09/2022	MXN	185,690		9,222
8.50%, 01/31/2047		400		385	8.00%, 11/07/2047		99,300		4,764
El Salvador Government International Bond					8.50%, 05/31/2029		142,610		7,447
7.38%, 12/01/2019		1,565		1,581	10.00%, 11/20/2036		69,040		4,020
7.65%, 06/15/2035		610		610	Mexico Government International Bond
Export Credit Bank of Turkey					4.75%, 03/08/2044	$	1,100		1,036
6.13%, 05/03/2024(b)		5,000		4,722	Morocco Government International Bond
Export-Import Bank of India					4.25%, 12/11/2022		1,400		1,414
3.88%, 02/01/2028		1,000		948	Nigeria Government International Bond
Gabon Government International Bond					6.50%, 11/28/2027(b)		2,640		2,522
6.38%, 12/12/2024(b)		7,350		7,024	6.50%, 11/28/2027		4,878		4,660
6.95%, 06/16/2025(b)		1,453		1,395	7.70%, 02/23/2038		8,116		7,791
Ghana Government International Bond					8.75%, 01/21/2031(b)		2,650		2,801
7.63%, 05/16/2029(b)		4,615		4,389	9.25%, 01/21/2049(b)		5,560		5,891
10.75%, 10/14/2030		3,437		4,040	Oman Government International Bond
10.75%, 10/14/2030(b)		4,264		5,012	4.13%, 01/17/2023(b)		12,471		11,749
Guatemala Government Bond					5.38%, 03/08/2027(b)		906		819
5.75%, 06/06/2022		1,400		1,463	5.63%, 01/17/2028(b)		924		840
Honduras Government International Bond					6.50%, 03/08/2047(b)		739		620
6.25%, 01/19/2027		750		770	6.75%, 01/17/2048		475		405
Hungary Government Bond					6.75%, 01/17/2048(b)		2,025		1,725
2.50%, 10/24/2024	HUF	3,111,690		11,391	Oman Sovereign Sukuk SAOC
3.00%, 06/26/2024	1,727,370			6,550	4.40%, 06/01/2024		1,100		1,018
3.00%, 10/27/2027	1,138,180			4,190	Panama Government International Bond
Hungary Government International Bond					4.50%, 04/16/2050		2,410		2,418
6.38%, 03/29/2021	$	200		212	Papua New Guinea Government International
					Bond
					8.38%, 10/04/2028(b)		5,534		5,921

See accompanying notes.

56

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)     Value (000’s)				BONDS (continued)	Amount (000’s)  Value (000’s)
Sovereign (continued)					Sovereign (continued)
Peru Government Bond					Ukraine Government International Bond
5.94%, 02/12/2029(b)	PEN	12,100	$	3,716	0.00%, 05/31/2040(a),(k)	$	12,826	$	7,824
Perusahaan Penerbit SBSN Indonesia III					7.75%, 09/01/2019(b)		9,015		9,017
4.40%, 03/01/2028(b)	$	5,400		5,407	7.75%, 09/01/2020		11,085		10,974
4.55%, 03/29/2026		1,150		1,164	7.75%, 09/01/2026(b)		2,157		1,960
Peruvian Government International Bond					7.75%, 09/01/2027		2,499		2,253
5.63%, 11/18/2050		700		852	8.99%, 02/01/2024(b)		1,371		1,347
5.70%, 08/12/2024(b)	PEN	17,571		5,488	9.75%, 11/01/2028(b)		4,660		4,622
8.20%, 08/12/2026(b)		14,969		5,291	Ukreximbank Via Biz Finance PLC
Philippine Government International Bond					9.75%, 01/22/2025		4,010		3,882
9.50%, 02/02/2030	$	900		1,356	Uruguay Government International Bond
Qatar Government International Bond					5.10%, 06/18/2050		750		771
5.10%, 04/23/2048(b)		1,632		1,751	9.88%, 06/20/2022	UYU	579,030		17,849
5.10%, 04/23/2048		1,170		1,255	Venezuela Government International Bond
5.75%, 01/20/2042(b)		753		884	0.00%, 10/13/2019(a)	$	15,701		4,749
Republic of Angola Via Avenir II BV					0.00%, 05/07/2023(a)		9,395		2,966
10.37%, 07/01/2023		23,165		25,250	0.00%, 09/15/2027(a)		13,395		4,470
6 Month USD LIBOR + 7.50%					0.00%, 08/05/2031(a)		6,825		2,257
Republic of Angola Via Northern Lights III BV					Vietnam Government International Bond
7.00%, 08/17/2019		1,319		1,322	4.80%, 11/19/2024		1,200		1,255
Republic of Cameroon International Bond					Zambia Government International Bond
9.50%, 11/19/2025(b)		4,009		4,288	5.38%, 09/20/2022(b)		5,282		4,130
9.50%, 11/19/2025		2,516		2,691	5.38%, 09/20/2022		1,972		1,542
Republic of Poland Government Bond					8.50%, 04/14/2024(b)		8,631		7,121
3.25%, 07/25/2025	PLN	28,089		7,932			$		903,823
4.00%, 10/25/2023		22,600		6,603	Supranational Bank - 0.41%
Republic of Poland Government International					Africa Finance Corp
Bond					3.88%, 04/13/2024(b)		3,400		3,240
3.25%, 04/06/2026	$	900		893	Asian Development Bank
Republic of South Africa Government Bond					6.45%, 08/08/2021	INR	451,240		6,217
6.25%, 03/31/2036	ZAR	459,160		25,352	Banque Ouest Africaine de Developpement
8.75%, 01/31/2044		69,538		4,800	5.00%, 07/27/2027(b)	$	3,000		2,933
8.88%, 02/28/2035		95,642		6,859	Eastern & Southern African Trade &
10.50%, 12/21/2026		275,904		23,002	Development Bank
Romania Government Bond					5.38%, 03/14/2022		5,340		5,380
5.80%, 07/26/2027	RON	15,350		3,951	European Bank for Reconstruction &
Romanian Government International Bond					Development
4.88%, 01/22/2024	$	1,000		1,038	7.38%, 04/15/2019	IDR	136,270,000		9,731
5.13%, 06/15/2048		500		493	European Investment Bank
Russian Federal Bond - OFZ					7.20%, 07/09/2019	53,020,000			3,776
6.98%, 08/16/2023	RUB	340,512		5,042			$		31,277
7.05%, 01/19/2028	1,470,100			21,167	Telecommunications - 2.83%
7.10%, 10/16/2024		250,000		3,689	AT&T Inc
8.50%, 09/17/2031	1,571,500			24,858	2.45%, 03/15/2035	EUR	250		260
Russian Foreign Bond - Eurobond					4.38%, 09/14/2029	GBP	950		1,350
4.38%, 03/21/2029	$	800		781	7.00%, 04/30/2040		200		375
4.50%, 04/04/2022		200		204	Axtel SAB de CV
5.25%, 06/23/2047		4,200		4,149	6.38%, 11/14/2024(b)	$	3,736		3,587
5.63%, 04/04/2042		800		855	6.38%, 11/14/2024		6,500		6,186
5.88%, 09/16/2043		5,200		5,748	Bharti Airtel Ltd
Saudi Government International Bond					4.38%, 06/10/2025(b)		3,385		3,172
4.38%, 04/16/2029(b)		10,314		10,503	C&W Senior Financing DAC
4.50%, 10/26/2046		487		454	6.88%, 09/15/2027(b)		6,045		5,758
4.63%, 10/04/2047		1,500		1,412	7.50%, 10/15/2026(b)		1,000		993
5.00%, 04/17/2049		1,468		1,454	CenturyLink Inc
5.25%, 01/16/2050(b)		9,500		9,739	5.80%, 03/15/2022		11,126		11,150
Senegal Government International Bond					CommScope Technologies LLC
6.25%, 05/23/2033(b)		972		901	6.00%, 06/15/2025(b)		12,885		12,144
6.75%, 03/13/2048		1,292		1,149	Comunicaciones Celulares SA Via Comcel Trust
Sri Lanka Government International Bond					6.88%, 02/06/2024(b)		3,705		3,829
5.13%, 04/11/2019(b)		4,435		4,434	Consolidated Communications Inc
6.20%, 05/11/2027		1,336		1,244	6.50%, 10/01/2022		7,500		6,862
6.75%, 04/18/2028(b)		4,052		3,886	Digicel Group One Ltd
Turkey Government Bond					8.25%, 12/30/2022(b)		6,522		5,381
12.20%, 01/18/2023	TRY	67,860		11,893	Digicel Group Two Ltd
10.50%, 08/11/2027		11,450		1,854	8.25%, 09/30/2022(b)		7,292		3,902
Turkey Government International Bond					9.13%, PIK 0.00%, 04/01/2024(b),(k),(l)		11,723		5,158
7.25%, 12/23/2023	$	3,540		3,711

See accompanying notes.

57

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

	Principal						Principal
BONDS (continued)	Amount (000’s)    Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Telecommunications (continued)					Transportation (continued)
Embarq Corp					FedEx Corp
8.00%, 06/01/2036	$	1,155	$	1,091	4.55%, 04/01/2046		$	2,650	$	2,475
Frontier Communications Corp					Hidrovias International Finance SARL
7.13%, 01/15/2023		1,700		1,011	5.95%, 01/24/2025			700		659
GTT Communications Inc					Lima Metro Line 2 Finance Ltd
7.88%, 12/31/2024(b)		21,468		18,892	5.88%, 07/05/2034(b)			2,415		2,463
Hughes Satellite Systems Corp					Navios Maritime Acquisition Corp / Navios
7.63%, 06/15/2021		15,000		15,900	Acquisition Finance US Inc
IHS Netherlands Holdco BV					8.13%, 11/15/2021(b)			2,453		1,852
9.50%, 10/27/2021(b)		4,170		4,294	Pelabuhan Indonesia II PT
Koninklijke KPN NV					5.38%, 05/05/2045(b)			4,725		4,489
5.75%, 09/17/2029	GBP	1,950		2,931				$		16,917
7.00%, 03/28/2073(b),(j)	$	400		414	Trucking & Leasing - 0.12%
USD Swap Semi-Annual 10 Year + 5.33%					Avolon Holdings Funding Ltd
7.00%, 03/28/2073(j)		2,000		2,070	5.13%, 10/01/2023(b)			695		706
USD Swap Semi-Annual 10 Year + 5.33%					5.50%, 01/15/2023(b)			765		780
Level 3 Financing Inc					DAE Funding LLC
5.13%, 05/01/2023		11,100		11,003	5.00%, 08/01/2024			750		737
5.38%, 08/15/2022		1,750		1,764	5.00%, 08/01/2024(b)			5,300		5,210
Millicom International Cellular SA					5.25%, 11/15/2021(b)			1,210		1,219
6.63%, 10/15/2026(b)		665		680	Park Aerospace Holdings Ltd
MTN Mauritius Investments Ltd					5.50%, 02/15/2024(b)			500		507
6.50%, 10/13/2026(b)		5,000		5,034				$		9,159
Nokia OYJ					TOTAL BONDS			$		5,348,479
2.00%, 03/15/2024	EUR	400		469			Principal
Oi SA					CONVERTIBLE BONDS - 0.03%	Amount (000's) Value (000's)
10.00%, PIK 4.00%, 07/27/2025(k),(l)	$	3,765		3,812	Mining - 0.03%
Oztel Holdings SPC Ltd					Mirabela Nickel Ltd
6.63%, 04/24/2028(b)		2,720		2,563	0.00%, 06/24/2019(a),(b)			6,966		2,159
Sixsigma Networks Mexico SA de CV					TOTAL CONVERTIBLE BONDS			$		2,159
7.50%, 05/02/2025(b)		3,298		3,141	CREDIT LINKED STRUCTURED NOTES		Principal
Sprint Capital Corp					- 0.30%	Amount (000's) Value (000's)
8.75%, 03/15/2032		2,255		2,475	Sovereign - 0.30%
Sprint Communications Inc					Egypt Treasury Bill - Goldman Sachs & Co
6.00%, 11/15/2022		7,590		7,676	0.00%, 04/18/2019(a),(c)	EGP		372,600		20,374
Sprint Corp					Republic of Iraq - Merrill Lynch
7.13%, 06/15/2024		12,875		13,173	2.54%, 01/07/2028(c),(e)	JPY		402,715		2,521
7.88%, 09/15/2023		7,485		7,953				$		22,895
Sprint Spectrum Co LLC / Sprint Spectrum Co II					TOTAL CREDIT LINKED STRUCTURED NOTES			$		22,895
LLC / Sprint Spectrum Co III LLC					SENIOR FLOATING RATE INTERESTS		Principal
3.36%, 03/20/2023(b)		2,922		2,906	- 7.63%	Amount (000's) Value (000's)
Telecom Italia SpA/Milano
3.25%, 01/16/2023	EUR	500		575	Aerospace & Defense - 0.01%
3.63%, 05/25/2026		500		550	Jazz Acquisition Inc
5.30%, 05/30/2024(b)	$	2,415		2,294	9.55%, 06/19/2022(n)		$	790	$	735
Telefonica Celular del Paraguay SA					US LIBOR + 6.75%
6.75%, 12/13/2022(b)		2,690		2,720	Automobile Parts & Equipment - 0.56%
Telefonica Europe BV					Dexko Global Inc
3.75%, 12/31/2049(h),(j)	EUR	1,000		1,171	11.05%, 07/24/2025(n)			21,140		21,034
EUR Swap Annual (VS 6 Month) 5 Year					US LIBOR + 8.25%
+ 3.86%					Truck Hero Inc
T-Mobile USA Inc					10.75%, 05/16/2025(n)			22,010		21,735
5.13%, 04/15/2025	$	1,575		1,591	US LIBOR + 8.25%
6.50%, 01/15/2026		2,130		2,252				$		42,769
Turk Telekomunikasyon AS					Building Materials - 0.03%
4.88%, 06/19/2024		1,000		915	NCI Building Systems Inc
Turkcell Iletisim Hizmetleri AS					6.55%, 04/12/2025(n)			2,637		2,508
5.80%, 04/11/2028		2,200		2,015	US LIBOR + 3.75%
5.80%, 04/11/2028(b)		5,150		4,718	Commercial Services - 0.42%
ViaSat Inc					KUEHG Corp
5.63%, 09/15/2025(b)		17,925		16,849	11.05%, 08/22/2025(n)			14,160		14,019
Vodafone Group PLC					Learning Care Group US No 2 Inc
5.00%, 05/30/2038		1,900		1,839	10.02%, 03/13/2026(n)			14,850		14,664
		$		216,848	US LIBOR + 7.50%
Transportation - 0.22%					Refinitiv US Holdings Inc
BNSF Funding Trust I					6.27%, 09/18/2025(n)			3,175		3,046
6.61%, 12/15/2055(j)		4,610		4,979	US LIBOR + 3.75%
3 Month USD LIBOR + 2.35%								$		31,729

See accompanying notes.

58

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

SENIOR FLOATING RATE INTERESTS	Principal				SENIOR FLOATING RATE INTERESTS	Principal
(continued)	Amount (000’s)    Value (000’s)				(continued)	Amount (000’s)   Value (000’s)
Computers - 0.43%					Investment Companies (continued)
Optiv Security Inc					Zest Acquisition Corp
9.77%, 01/13/2025(n)	$	7,710	$	7,093	10.02%, 03/06/2026(n)	$	11,260	$	10,697
US LIBOR + 7.25%					US LIBOR + 7.50%
Peak 10 Holding Corp							$		24,030
9.79%, 07/24/2025(n)		21,350		18,441	Iron & Steel - 0.02%
US LIBOR + 7.25%					Miami Valley Steel Services Inc
TierPoint LLC					10.00%, 01/20/2023(c),(n)		1,834		1,834
9.77%, 05/05/2025(n)		7,760		7,318	Lodging - 0.33%
US LIBOR + 7.25%					Parq Holdings LP
		$		32,852	10.06%, 12/17/2020(n)		25,102		24,914
Cosmetics & Personal Care - 0.25%					US LIBOR + 7.50%
Wellness Merger Sub Inc					Machinery - Diversified - 0.27%
11.56%, 06/27/2025(n)		19,410		19,434	Engineered Machinery Holdings Inc
Electric - 0.03%					10.05%, 07/25/2025(n)		21,223		20,675
Panda Liberty LLC					US LIBOR + 7.25%
9.30%, 08/21/2020(n)		2,235		1,944	Mining - 0.04%
US LIBOR + 6.50%					Aleris International Inc
Electronics - 0.06%					7.25%, 02/08/2023(n)		2,734		2,730
Deliver Buyer Inc					US LIBOR + 4.75%
7.71%, 05/01/2024(n)		4,460		4,415	Miscellaneous Manufacturers - 0.40%
US LIBOR + 5.00%					UTEX Industries Inc
Healthcare - Services - 1.73%					6.54%, 05/21/2021(n)		11,782		11,090
Aveanna Healthcare LLC					US LIBOR + 4.00%
8.02%, 03/18/2024(n)		5,447		5,392	9.77%, 05/22/2022(n)		21,490		19,314
US LIBOR + 5.50%					US LIBOR + 7.25%
10.52%, 03/16/2025(n)		23,880		22,940			$		30,404
US LIBOR + 8.00%					Pharmaceuticals - 0.80%
Dentalcorp Perfect Smile ULC					Lanai Holdings III Inc
6.27%, 06/01/2025(n)		1,788		1,747	11.03%, 08/14/2023(n)		25,190		22,671
US LIBOR + 3.75%					US LIBOR + 8.50%
6.27%, 06/06/2025(n)		329		322	Packaging Coordinators Midco Inc
US LIBOR + 3.75%					11.56%, 06/29/2024(n)		24,050		23,930
10.02%, 06/08/2026(n)		2,248		2,192	US LIBOR + 8.75%
US LIBOR + 7.50%					PharMerica Corp
10.02%, 06/01/2026(n)		12,120		11,817	10.26%, 12/07/2025(n)		15,140		14,988
US LIBOR + 7.50%					US LIBOR + 7.75%
Envision Healthcare Corp							$		61,589
6.27%, 09/26/2025(n)		12,500		11,756	Software - 0.90%
US LIBOR + 3.75%					Evergreen Skills Lux Sarl
One Call Corp					7.27%, 04/23/2021(n)		31,884		25,929
7.76%, 11/27/2022(n)		16,993		14,986	US LIBOR + 4.75%
US LIBOR + 5.25%					10.77%, 04/28/2022(n)		19,520		9,994
Sound Inpatient Physicians Inc					US LIBOR + 8.25%
9.27%, 06/26/2026(n)		6,550		6,452	MH Sub I LLC
US LIBOR + 6.75%					10.02%, 09/15/2025(n)		18,920		18,163
US Renal Care Inc					US LIBOR + 7.50%
10.80%, 11/17/2023(n)		57,095		54,811	Vertafore Inc
US LIBOR + 8.00%					10.05%, 06/04/2026(n)		15,625		15,134
		$		132,415	US LIBOR + 7.25%
Home Furnishings - 0.00%							$		69,220
Targus Group International Inc					TOTAL SENIOR FLOATING RATE INTERESTS		$		584,169
0.00%, 05/24/2016(a),(c),(e),(n)		880		—	U.S. GOVERNMENT & GOVERNMENT	Principal
US LIBOR + 9.50%					AGENCY OBLIGATIONS - 0.05%	Amount (000's)   Value (000's)
Insurance - 0.58%					U.S. Treasury - 0.05%
Asurion LLC					1.38%, 01/31/2020	$	4,000	$	3,954
9.02%, 08/04/2025(n)		14,500		14,573	TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY
US LIBOR + 6.50%					OBLIGATIONS		$		3,954
9.02%, 08/04/2025(n)		29,810		29,959	Total Investments		$		7,576,224
US LIBOR + 6.50%					Other Assets and Liabilities -  1.06%				81,106
Internet - 0.46%					TOTAL NET ASSETS - 100.00%		$		7,657,330
Ten-X LLC
10.52%, 09/29/2025(c),(e),(n)		35,440		35,440
Investment Companies - 0.31%
Masergy Holdings Inc
10.31%, 12/16/2024(n)		13,674		13,333
US LIBOR + 7.50%

See accompanying notes.

59

Schedule of Investments

Global Diversified Income Fund

January 31, 2019 (unaudited)

(a)	Non-income producing security		Portfolio Summary  (unaudited)
(b)	Security exempt from registration under Rule 144A of the Securities Act of	Country		Percent
	1933. These securities may be resold in transactions exempt from registration,	United States		65.61	%
	normally to qualified institutional buyers. At the end of the period, the value of	Canada		3.41	%
	these securities totaled $2,754,264 or 35.97% of net assets.	United Kingdom		2.53	%
(c)	Fair value of these investments is determined in good faith by the Manager	Argentina		2.01	%
	under procedures established and periodically reviewed by the Board of	Mexico		1.89	%
	Directors. Certain inputs used in the valuation may be unobservable; however,	Netherlands		1.78	%
	each security is evaluated individually for purposes of ASC 820 which results	Luxembourg		1.47	%
	in not all securities being identified as Level 3 of the fair value hierarchy. At	Indonesia		1.41	%
	the end of the period, the fair value of these securities totaled $213,570 or	Japan		0.99	%
	2.79% of net assets.	South Africa		0.97	%
(d)	Restricted Security. Please see Restricted Security Sub-Schedule for more	Brazil		0.90	%
	information.	Russian Federation		0.88	%
(e)	The value of these investments was determined using significant unobservable	Cayman Islands		0.83	%
	inputs.	Turkey		0.75	%
(f)	Affiliated Security. Security is either an affiliate (and registered under the	France		0.71	%
	Investment Company Act of 1940) or an affiliate as defined by the Investment	Supranational		0.65	%
	Company Act of 1940 (controls 5.0% or more of the outstanding voting	Egypt		0.56	%
	shares of the security). Please see affiliated sub-schedule for transactional	Australia		0.53	%
	information.	Ukraine		0.50	%
(g)	Current yield shown is as of period end.	Virgin Islands, British		0.49	%
(h)	Perpetual security. Perpetual securities pay an indefinite stream of interest,	Venezuela		0.46	%
	but they may be called by the issuer at an earlier date. Date shown, if any,	Colombia		0.43	%
	reflects the next call date or final legal maturity date. Rate shown is as of	Bermuda		0.40	%
	period end.	Nigeria		0.36	%
(i)	Security purchased on a when-issued basis.	Cote d'Ivoire		0.34	%
(j)	Rate shown is as of period end. The rate may be a variable or floating rate or	Ecuador		0.33	%
	a fixed rate which may convert to a variable or floating rate in the future.	Germany		0.33	%
(k)	Certain variable rate securities are not based on a published reference rate	Ireland		0.31	%
	and spread but are determined by the issuer or agent and are based on current	Saudi Arabia		0.31	%
	market conditions.  These securities do not indicate a reference rate and	Singapore		0.30	%
	spread in their description. Rate shown is the rate in effect as of period end.	Hungary		0.29	%
(l)	Payment in kind; the issuer has the option of paying additional securities in	Chile		0.28	%
	lieu of cash.	Switzerland		0.28	%
(m)	Security is an Interest Only Strip.	Hong Kong		0.28	%
(n)	Rate information disclosed is based on an average weighted rate of the	China		0.27	%
	underlying tranches as of period end.	Jersey, Channel Islands		0.26	%
		Austria		0.26	%
		Spain		0.26	%
		Uruguay		0.24	%
		Oman		0.22	%
		Peru		0.21	%
		Italy		0.21	%
		Poland		0.20	%
		Kenya		0.20	%
		Korea, Republic Of		0.19	%
		Sweden		0.19	%
		Lebanon		0.19	%
		Ghana		0.18	%
		United Arab Emirates		0.17	%
		Zambia		0.17	%
		India		0.14	%
		Bahrain		0.14	%
		Sri Lanka		0.13	%
		Kazakhstan		0.12	%
		Gabon		0.11	%
		Panama		0.10	%
		Cameroon		0.09	%
		Mauritius		0.08	%
		Israel		0.08	%
		Norway		0.08	%
		Papua New Guinea		0.08	%
		Romania		0.07	%
		Angola		0.06	%
		Dominican Republic		0.06	%
		Finland		0.05	%
		Qatar		0.05	%
		Mongolia		0.04	%
		Paraguay		0.04	%
		Philippines		0.03	%
		Malaysia		0.03	%

See accompanying notes.

60

Schedule of Investments
Global Diversified Income Fund
January 31, 2019 (unaudited)
Portfolio Summary  (unaudited) (continued)
Country (continued)			Percent (continued)
Taiwan, Province Of China				0.03	%
Isle of Man				0.03	%
El Salvador				0.03	%
Iraq				0.03	%
Thailand				0.03	%
Croatia				0.02	%
Puerto Rico				0.02	%
Vietnam				0.02	%
Senegal				0.02	%
Costa Rica				0.02	%
Guernsey				0.02	%
New Zealand				0.02	%
Morocco				0.02	%
Guatemala				0.02	%
Portugal				0.01	%
Kuwait				0.01	%
Honduras				0.01	%
Belgium				0.01	%
Other Assets and Liabilities				1.06	%
TOTAL NET ASSETS				100.00	%
Affiliated Securities			October 31, 2018			Purchases				Sales			January 31, 2019
				Value		Cost			Proceeds					Value
Principal Government Money Market Fund 2.32%		$		296,134		$	1,769,042	$		1,715,535	$			349,641
		$		296,134		$	1,769,042	$		1,715,535	$			349,641
				Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income				on Investments			Capital Gain Distributions			Gain/Loss
Principal Government Money Market Fund 2.32%		$		1,252	$		— $			— $				—
		$		1,252	$		— $			— $				—
Amounts in thousands
Restricted Securities
Security Name				Acquisition Date						Cost			Value	Percent of Net Assets
Aspect Software Inc				05/25/2016-11/25/2016			$			5,426	$		—	0.00	%
Cengage Learning Holdings II Inc				03/31/2014						1,099			129	0.00	%
Material Sciences Corp - 10.64%, 01/09/2024				12/22/2016-06/29/2018						23,123			22,010	0.29	%
Material Sciences Corp - Warrants				12/22/2016						2,011			5,047	0.07	%
Milagro Oil & Gas Inc				12/02/2016						761			193	0.00	%
Real Alloy Holding Inc - 12.39%, 11/30/2023				05/31/2018						20,356			20,356	0.27	%
SportsNet New York - 10.25%, 01/15/2025				12/27/2017						19,789			21,094	0.28	%
Targus Group International Inc				03/15/2016						154			69	0.00	%
VICI Properties Inc				01/17/2019-01/30/2019						2,229			2,277	0.03	%
Total										$			71,175	0.94	%
Amounts in thousands.
Foreign Currency Contracts
										Unrealized Appreciation/(Depreciation)
Counterparty	Settlement Date			Currency to Accept			Currency to Deliver					Asset		Liability
Barclays Bank PLC		02/04/2019	EUR			6,690	$			7,664	$		— $	(6	)
Barclays Bank PLC		02/28/2019	CZK			96,616	$			4,290			8	—
Barclays Bank PLC		02/28/2019	PLN			53,014	$			14,107			151	—
Citigroup Inc		02/04/2019	GBP			1,293	$			1,698			—	(2	)
Goldman Sachs & Co		02/22/2019	$			1,345		CLP		903,565			—	(33	)
Goldman Sachs & Co		02/22/2019	CLP			17,230,460	$			25,239			1,048	—
Goldman Sachs & Co		03/15/2019	$			4,516		RUB		305,674			—	(133	)
Goldman Sachs & Co		03/15/2019	$			4,460		RUB		292,787			7	—
JPMorgan Chase		02/04/2019	$			9,489		BRL		35,277			—	(183	)
JPMorgan Chase		02/04/2019	BRL			35,277	$			9,022			650	—
JPMorgan Chase		02/13/2019	ARS			298,490	$			7,247			686	—
JPMorgan Chase		02/22/2019	ARS			14,227	$			340			35	—
JPMorgan Chase		02/28/2019	TRY			44,923	$			8,328			273	—
JPMorgan Chase		03/06/2019	BRL			74,732	$			20,254			209	—
JPMorgan Chase		03/11/2019	$			2,731		JPY		292,883			35	—
JPMorgan Chase		03/22/2019	$			21,059		MXN		403,170			111	—
JPMorgan Chase		03/27/2019	ARS			311,540	$			7,739			194	—
Standard Chartered Bank, Hong Kong		02/04/2019	BRL			26,915	$			6,954			426	—

See accompanying notes.

61

Schedule of Investments
Global Diversified Income Fund
January 31, 2019 (unaudited)
Foreign Currency Contracts (continued)
														Unrealized Appreciation/(Depreciation)
Counterparty		Settlement Date		Currency to Accept				Currency to Deliver								Asset		Liability
Standard Chartered Bank, Hong Kong		02/04/2019		$		7,156			BRL					26,944	$	— $			(232	)
Standard Chartered Bank, Hong Kong		02/08/2019		COP		13,696,200		$						4,200		211			—
Standard Chartered Bank, Hong Kong		02/11/2019		INR		551,245		$						7,767		—			(18	)
Standard Chartered Bank, Hong Kong		02/19/2019		$		1,001			CLP					665,700		—			(15	)
Standard Chartered Bank, Hong Kong		02/19/2019		CLP		6,219,619		$						9,225		263			—
Standard Chartered Bank, Hong Kong		02/20/2019		RUB		223,530		$						3,358		55			—
Standard Chartered Bank, Hong Kong		02/28/2019		$		4,656			TRY					24,539		—			(42	)
Standard Chartered Bank, Hong Kong		02/28/2019		TRY		24,904		$						4,659		109			—
Toronton Dominion Bank		02/28/2019		$		6,866			MXN					130,973		38			—
Toronton Dominion Bank		02/28/2019		MXN		44,413		$						2,328		—			(13	)
Total														$		4,509	$		(677	)
Amounts in thousands.
Credit Default Swaps
Sell Protection
		Implied Credit
		Spread as of		(Pay)/										Upfront		Unrealized
		January 31,		Receive Fixed		Payment					Notional			Payments/		Appreciation/		Fair Value (c)
Counterparty	Reference Entity	2019	(a)	Rate		Frequency	Maturity Date				Amount (b)			(Receipts)		(Depreciation)		Asset---- Liability
Credit Suisse	Republic of Ecuador	5.10	%	5.00	%	Quarterly	12/20/2019			$	6,700		$	(98	)$	92	$	— $	(6	)
	International Bond,
	7.88%, 01/23/2028
Total												$		(98	)$	92	$	— $	(6	)
Amounts in thousands.

(a) Implied credit spreads, represented in absolute terms, used in determining the market value of credit default swap agreements on corporate issues or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

(b) The maximum potential payment amount that the seller of credit protection could be required to make if a credit event occurs as defined under the terms of that particular swap agreement is $6,700.

(c) The market price and resulting market value for credit default swap agreements on an issuer serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit default swap as of the period end. Increasing market values, in absolute terms, when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

Currency Swaps

Notional Amount

Notional Amount

Upfront

Unrealized

Payment

of Currency

of Currency

Payments/

Appreciation/

Fair Value

Counterparty

Fund Receives

Fund Pays

Frequency

Maturity Date

Received

Delivered

(Receipts)

(Depreciation)

Asset ----Liability

Goldman Sachs

8.67

%

3.75

%

Semiannual

01/11/2028

MXN

346,305

$

17,570

$

(308)$

(356)$

— $

(664

)

& Co

Total

$

(308)$

(356)$

— $

(664

)

Amounts in thousands.

Exchange Cleared Interest Rate Swaps

(Pay)/

Unrealized

Upfront

Receive

Payment

Appreciation/

Payments/

Floating Rate Index

Floating Rate

Fixed Rate

Frequency

Maturity Date

Notional Amount

(Depreciation)

(Receipts)

Fair Value

3 Month Johannesburg Interbank Agreed Rate

Pay

7.23

%

Quarterly

04/30/2023

ZAR 373,000 $

(98

)$

(4

)$

(102

)

Total

$

(98

)$

(4

)$

(102

)

Amounts in thousands.

See accompanying notes.

62

Schedule of Investments
Global Real Estate Securities Fund
January 31, 2019 (unaudited)
COMMON STOCKS - 97.53%	Shares Held        Value (000's)			COMMON STOCKS (continued)		Shares Held      Value (000’s)
Holding Companies - Diversified - 0.04%				REITs (continued)
Keppel Corp Ltd	328,700	$	1,495	Physicians Realty Trust		1,011,789	$	18,323
Lodging - 3.62%				PLA Administradora Industrial S de RL de CV		3,357,050		4,775
City Developments Ltd	6,380,000		43,667	Prologis Inc		1,715,165		118,621
Extended Stay America Inc	699,769		11,966	Prologis Property Mexico SA de CV		2,600,110		4,532
Hilton Grand Vacations Inc (a)	547,611		16,615	Public Storage		91,472		19,440
Hilton Worldwide Holdings Inc	659,866		49,147	Regency Centers Corp		872,772		56,730
	$		121,395	Rexford Industrial Realty Inc		1,254,663		42,157
Real Estate - 20.56%				Saul Centers Inc		170,874		9,049
Aroundtown SA	3,127,205		27,662	Segro PLC		8,556,937		72,740
Castellum AB	1,142,968		21,668	Simon Property Group Inc		595,360		108,427
Deutsche Wohnen SE	2,531,504		126,467	Spirit Realty Capital Inc		839,841		33,358
Entra ASA (b)	1,559,320		22,596	STORE Capital Corp		1,779,931		57,527
Fabege AB	1,908,844		27,854	Sun Communities Inc		456,979		50,227
Heiwa Real Estate Co Ltd	959,200		17,724	Sunstone Hotel Investors Inc		2,163,519		30,938
Hongkong Land Holdings Ltd	6,594,285		47,439	Tanger Factory Outlet Centers Inc		568,906		12,943
LEG Immobilien AG	278,149		32,674	Taubman Centers Inc		343,250		17,094
Leopalace21 Corp	4,351,400		20,617	Unibail-Rodamco-Westfield		98,252		17,671
Mitsubishi Estate Co Ltd	5,404,400		95,720	UNITE Group PLC/The		3,293,610		39,335
Mitsui Fudosan Co Ltd	3,510,193		85,280	VICI Properties Inc (c)		244,018		5,254
New World Development Co Ltd	38,553,000		60,804	Vicinity Centres		13,426,004		25,561
Sino Land Co Ltd	11,686,000		21,015	Welltower Inc		1,210,746		93,821
Sun Hung Kai Properties Ltd	3,106,000		52,095	Weyerhaeuser Co		417,874		10,965
TLG Immobilien AG	598,807		18,385			$		2,397,036
Wihlborgs Fastigheter AB	881,792		11,504	Software - 1.25%
	$		689,504	InterXion Holding NV (a)		695,526		41,759
REITs - 71.48%				Storage & Warehousing - 0.58%
Alexandria Real Estate Equities Inc	642,744		84,656	Safestore Holdings PLC		2,585,281		19,568
Allied Properties Real Estate Investment Trust	503,430		18,084	TOTAL COMMON STOCKS		$		3,270,757
American Homes 4 Rent	1,591,657		35,192	INVESTMENT COMPANIES - 1.65%		Shares Held      Value (000's)
American Tower Corp	100,776		17,418	Money Market Funds - 1.65%
Apartment Investment & Management Co	1,217,246		60,278	Principal Government Money Market Fund		55,454,950		55,455
AvalonBay Communities Inc	564,519		108,907	2.32%(d),(e)
Big Yellow Group PLC	923,059		11,611	TOTAL INVESTMENT COMPANIES		$		55,455
Boston Properties Inc	363,880		47,985	Total Investments		$		3,326,212
Camden Property Trust	293,852		28,489	Other Assets and Liabilities -  0.82%				27,387
Canadian Apartment Properties REIT	620,680		22,107	TOTAL NET ASSETS - 100.00%		$		3,353,599
CapitaLand Mall Trust	9,294,900		16,598
Corporate Office Properties Trust	343,898		8,491
Crown Castle International Corp	164,598		19,268	(a)	Non-income producing security
CubeSmart	1,254,088		38,814	(b)	Security exempt from registration under Rule 144A of the Securities Act of
Daiwa Office Investment Corp	4,429		29,622		1933. These securities may be resold in transactions exempt from registration,
Dexus	4,705,791		39,402		normally to qualified institutional buyers. At the end of the period, the value of
Duke Realty Corp	1,080,526		31,595		these securities totaled $28,898 or 0.86% of net assets.
EPR Properties	532,890		38,933	(c)	Restricted Security. Please see Restricted Security Sub-Schedule for more
Equinix Inc	44,825		17,661		information.
Equity Residential	352,814		25,600	(d)	Affiliated Security. Security is either an affiliate (and registered under the
Essex Property Trust Inc	305,702		82,906		Investment Company Act of 1940) or an affiliate as defined by the Investment
Extra Space Storage Inc	593,491		58,524		Company Act of 1940 (controls 5.0% or more of the outstanding voting
First Industrial Realty Trust Inc	512,450		16,767		shares of the security). Please see affiliated sub-schedule for transactional
Gecina SA	250,531		36,819		information.
Goodman Group	9,873,611		84,033	(e)	Current yield shown is as of period end.
GPT Group/The	1,481,006		6,262
Great Portland Estates PLC	1,439,774		13,831
HCP Inc	601,450		18,970
Healthcare Trust of America Inc	1,746,288		49,629
Hudson Pacific Properties Inc	743,737		24,149
Industrial & Infrastructure Fund Investment Corp	11,743		12,547
Inmobiliaria Colonial Socimi SA	3,866,661		39,557
Invincible Investment Corp	45,025		19,595
Invitation Homes Inc	3,385,697		76,144
Japan Hotel REIT Investment Corp	79,573		61,042
Japan Retail Fund Investment Corp	19,208		39,403
Kenedix Retail REIT Corp	5,416		12,902
Kilroy Realty Corp	571,912		40,297
Klepierre SA	718,160		24,611
Link REIT	7,645,000		84,035
Macquarie Mexico Real Estate Management SA	5,788,050		6,302
de CV (a),(b)
Merlin Properties Socimi SA	2,870,650		38,512

See accompanying notes.

63

Schedule of Investments
Global Real Estate Securities Fund
January 31, 2019 (unaudited)
Portfolio Summary  (unaudited)
Country		Percent
United States		52.16	%
Japan		11.74	%
Hong Kong		7.92	%
Germany		5.29	%
United Kingdom		4.68	%
Australia		4.63	%
France		2.36	%
Spain		2.33	%
Singapore		1.83	%
Sweden		1.82	%
Netherlands		1.25	%
Canada		1.20	%
Luxembourg		0.83	%
Norway		0.67	%
Mexico		0.47	%
Other Assets and Liabilities		0.82	%
TOTAL NET ASSETS		100.00	%
Affiliated Securities				October 31, 2018		Purchases		Sales		January 31, 2019
				Value		Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	37,882			$	173,897	$	156,324	$	55,455
	$	37,882			$	173,897	$	156,324	$	55,455
		Realized Gain/Loss				Realized Gain from				Change in Unrealized
		Income		on Investments		Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	175	$	— $				— $		—
	$	175	$	— $				— $		—
Amounts in thousands
Restricted Securities
Security Name		Acquisition Date				Cost		Value		Percent of Net Assets
VICI Properties Inc		01/08/2019-01/28/2019			$	4,872	$	5,254			0.16	%
Total							$	5,254			0.16	%
Amounts in thousands.

See accompanying notes.

64

     Schedule of Investments Government & High Quality Bond Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 0.28%		Shares Held       Value (000's)					Principal
Money Market Funds - 0.28%					BONDS (continued)	Amount (000’s)   Value (000’s)
Principal Government Money Market Fund		4,078,396	$	4,078	Commercial Mortgage Backed Securities (continued)
2.32%(a),(b)					Wells Fargo Commercial Mortgage Trust
TOTAL INVESTMENT COMPANIES		$		4,078	2015-C31
		Principal			4.61%, 11/15/2048(c)	$	6,000	$	6,015
BONDS - 29.96%	Amount (000's)      Value (000's)				Wells Fargo Commercial Mortgage Trust
Commercial Mortgage Backed Securities - 12.55%					2016-LC25
CD 2017-CD3 Mortgage Trust					4.42%, 12/15/2059(c)		1,000		1,034
3.98%, 02/10/2050(c)	$	4,500	$	4,492	WFRBS Commercial Mortgage Trust 2013-C14
Citigroup Commercial Mortgage Trust					3.98%, 06/15/2046(c),(e)		2,500		2,302
2016-GC36					WFRBS Commercial Mortgage Trust 2014-C23
4.76%, 02/10/2049(c)		4,400		4,407	4.37%, 10/15/2057(c)		9,700		10,056
COMM 2014-CCRE19 Mortgage Trust					WFRBS Commercial Mortgage Trust 2014-LC14
4.71%, 08/10/2047(c)		3,700		3,778	4.34%, 03/15/2047(c)		8,000		7,952
COMM 2014-UBS5 Mortgage Trust							$		180,917
4.61%, 09/10/2047(c)		11,680		11,714	Home Equity Asset Backed Securities - 0.34%
Freddie Mac Multifamily Structured Pass					ACE Securities Corp Mortgage Loan Trust Series
Through Certificates					2007-D1
2.65%, 08/25/2026		7,680		7,443	6.93%, 02/25/2038(c),(e)		5,198		4,904
3.19%, 09/25/2027(c)		9,710		9,696	Mortgage Backed Securities - 16.19%
3.29%, 11/25/2027		6,800		6,834	Citigroup Mortgage Loan Trust 2015-PS1
3.44%, 12/25/2027		7,640		7,775	5.25%, 09/25/2042(c),(e)		7,325		7,853
3.60%, 01/25/2028		8,340		8,581	CSMC Trust 2015-1
3.65%, 02/25/2028(c)		3,250		3,357	3.94%, 01/25/2045(c),(e)		7,501		7,456
3.90%, 04/25/2028		5,300		5,583	EverBank Mortgage Loan Trust 18-1
Ginnie Mae					3.50%, 02/25/2048(c),(e)		4,802		4,750
0.38%, 10/16/2053(c),(d)		14,857		481	Fannie Mae Interest Strip
0.49%, 06/16/2052(c),(d)		26,727		577	3.50%, 12/25/2043(c),(d)		4,561		830
0.52%, 10/16/2054(c),(d)		41,567		1,156	7.00%, 04/25/2024(d)		27		3
0.52%, 06/16/2060(c),(d)		36,103		2,040	Fannie Mae REMICS
0.57%, 12/16/2059(c),(d)		46,982		2,728	1.54%, 06/25/2045(c),(d)		20,304		1,141
0.58%, 08/16/2051(c),(d)		71,935		2,898	2.50%, 02/25/2028(d)		13,086		975
0.58%, 12/16/2053(c),(d)		31,617		1,210	3.00%, 07/25/2032(d)		11,311		1,417
0.58%, 03/16/2060(c),(d)		24,525		1,466	3.00%, 04/25/2042		7,371		7,309
0.61%, 04/16/2047(c),(d)		69,672		2,636	3.00%, 02/25/2043		4,882		4,876
0.61%, 10/16/2054(c),(d)		42,496		1,247	3.00%, 01/25/2046		8,151		8,110
0.64%, 11/16/2045(c),(d)		26,959		958	3.11%, 04/25/2027		8		8
0.69%, 06/16/2054(c),(d)		54,252		1,684	1.00 x 1 Month USD LIBOR + 0.60%
0.72%, 11/16/2052(c),(d)		48,849		2,165	3.50%, 06/25/2033(d)		13,088		1,459
0.76%, 10/16/2054(c),(d)		57,476		2,103	3.50%, 04/25/2034(d)		14,098		1,811
0.78%, 02/16/2053(c),(d)		40,598		1,960	3.50%, 02/25/2036(d)		8,659		1,366
0.78%, 10/16/2059(c),(d)		15,742		1,059	3.50%, 01/25/2040(d)		13,927		1,495
0.80%, 09/16/2053(c),(d)		43,327		1,792	3.50%, 11/25/2042		9,708		10,013
0.81%, 02/16/2053(c),(d)		104,816		5,633	3.50%, 02/25/2043		969		994
0.82%, 01/16/2056(c),(d)		20,372		1,058	3.50%, 02/25/2043(d)		15,931		2,248
0.87%, 02/16/2046(c),(d)		43,784		2,173	3.50%, 07/25/2043(d)		12,260		1,573
0.90%, 03/16/2052(c),(d)		49,874		2,802	3.50%, 08/25/2045		2,931		2,929
0.90%, 06/16/2057(c),(d)		14,551		998	3.50%, 03/25/2048(d)		21,455		2,843
2.60%, 05/16/2059		4,104		3,881	4.00%, 06/25/2039		10,000		10,220
2.60%, 03/16/2060		7,572		7,177	4.00%, 12/25/2039(d)		7,000		840
GS Mortgage Securities Trust 2013-GC13					4.00%, 03/25/2045		6,411		6,884
4.08%, 07/10/2046(c),(e)		5,000		4,722	4.00%, 04/25/2047		3,228		3,468
GS Mortgage Securities Trust 2014-GC20					4.50%, 04/25/2045(d)		23,407		5,415
4.97%, 04/10/2047(c)		2,000		2,005	7.00%, 04/25/2032		840		940
GS Mortgage Securities Trust 2014-GC24					9.00%, 05/25/2020		4		4
4.53%, 09/10/2047(c)		4,200		4,157	Freddie Mac REMICS
JP Morgan Chase Commercial Mortgage					2.50%, 11/15/2032		4,703		4,574
Securities Trust 2013-C16					2.50%, 02/15/2043		2,521		2,451
4.96%, 12/15/2046(c)		8,000		8,425	3.00%, 11/15/2030(d)		5,140		319
JPMDB Commercial Mortgage Securities Trust					3.00%, 06/15/2040		4,815		4,824
2017-C5					3.00%, 10/15/2042		1,570		1,577
4.01%, 03/15/2050(c)		4,420		4,440	3.00%, 05/15/2044		1,588		1,533
JPMDB Commercial Mortgage Securities Trust					3.00%, 04/15/2046		2,896		2,891
2018-C8					3.00%, 11/15/2046		3,584		3,580
4.75%, 06/15/2051(c)		3,700		3,770	3.41%, 02/15/2021		1		1
Wells Fargo Commercial Mortgage Trust					1.00 x 1 Month USD LIBOR + 0.90%
2014-LC16					3.50%, 03/15/2029		4,139		4,272
4.46%, 08/15/2050		500		497	3.50%, 04/15/2040(d)		7,792		635
					3.50%, 07/15/2042		2,972		2,973
					3.50%, 05/15/2043		3,387		3,465

See accompanying notes.

65

Schedule of Investments
Government & High Quality Bond Fund
January 31, 2019 (unaudited)
		Principal			U.S. GOVERNMENT & GOVERNMENT		Principal
BONDS (continued)	Amount (000’s) Value (000’s)				AGENCY OBLIGATIONS (continued)	Amount (000’s) Value (000’s)
Mortgage Backed Securities (continued)					Federal Home Loan Mortgage Corporation (FHLMC) (continued)
Freddie Mac REMICS   (continued)					3.50%, 07/01/2046	$	9,787	$	9,912
3.50%, 09/15/2043	$	7,680	$	7,771	3.50%, 01/01/2047		13,537		13,675
4.00%, 05/15/2039		4,825		4,955	3.50%, 01/01/2048		10,418		10,539
4.00%, 11/15/2042(d)		9,639		1,656	4.00%, 12/01/2041		4,375		4,544
4.00%, 01/15/2045		7,016		7,542	4.00%, 07/01/2042		3,105		3,225
4.00%, 04/15/2045		2,962		3,141	4.00%, 09/15/2042		2,443		2,551
6.50%, 08/15/2027		78		80	4.00%, 07/01/2043		4,072		4,229
Ginnie Mae					4.00%, 09/01/2044		5,097		5,294
3.00%, 05/16/2037		14,000		13,928	4.00%, 10/01/2045		8,490		8,800
3.00%, 04/20/2047		3,287		2,969	4.00%, 08/01/2047		12,241		12,688
3.25%, 05/20/2045		5,367		5,522	4.00%, 01/01/2048		8,356		8,662
3.50%, 08/20/2039(d)		18,750		1,885	4.00%, 06/01/2048		11,096		11,482
3.50%, 01/20/2043(d)		16,168		3,326	4.50%, 04/01/2041		4,572		4,854
3.50%, 05/20/2043(d)		10,540		2,027	4.50%, 11/01/2043		4,619		4,904
3.50%, 10/20/2044(d)		20,117		3,148	4.85%, 10/01/2032		1		1
3.50%, 11/20/2045		4,500		4,511	1.00 x 12 Month USD LIBOR + 1.98%
4.00%, 11/16/2038		398		404	5.00%, 10/01/2025		48		51
4.00%, 10/20/2043(d)		19,825		2,723	5.00%, 12/01/2032		56		60
4.00%, 04/20/2044(d)		6,033		1,035	5.00%, 02/01/2033		431		460
4.00%, 01/20/2048(d)		9,612		1,852	5.00%, 01/01/2034		4,006		4,281
5.00%, 11/20/2039		3,306		3,583	5.00%, 05/01/2034		87		93
JP Morgan Mortgage Trust 2016-4					5.00%, 07/01/2035		2		2
3.50%, 10/25/2046(c),(e)		4,457		4,392	5.00%, 07/01/2035		36		38
JP Morgan Mortgage Trust 2018-8					5.00%, 10/01/2035		8		9
4.00%, 01/25/2049(c),(e)		4,959		4,931	5.00%, 11/01/2035		319		340
New Residential Mortgage Loan Trust 2015-2					5.00%, 07/01/2044		2,996		3,206
5.55%, 08/25/2055(c),(e)		5,782		6,203	5.00%, 03/01/2048		5,042		5,457
Sequoia Mortgage Trust 2013-2					5.50%, 03/01/2029		1		1
3.64%, 02/25/2043(c)		7,372		7,326	5.50%, 05/01/2033		8		9
Sequoia Mortgage Trust 2017-5					5.50%, 10/01/2033		12		13
3.50%, 08/25/2047(c),(e)		1,483		1,454	5.50%, 12/01/2033		306		333
Sequoia Mortgage Trust 2018-5					5.50%, 07/01/2037		17		19
3.50%, 05/25/2048(c),(e)		4,760		4,664	5.50%, 04/01/2038		7		8
		$		233,353	5.50%, 05/01/2038		42		45
Other Asset Backed Securities - 0.88%					6.00%, 01/01/2021		18		18
CNH Equipment Trust 2016-C					6.00%, 06/01/2028		6		7
1.76%, 09/15/2023		1,600		1,571	6.00%, 05/01/2031		75		83
TAL Advantage V LLC					6.00%, 10/01/2031		2		2
3.33%, 05/20/2039(e)		3,117		3,103	6.00%, 02/01/2032		15		17
Towd Point Mortgage Trust					6.00%, 09/01/2032		49		53
4.25%, 10/25/2053(c),(e)		5,000		5,161	6.00%, 11/01/2033		152		164
Towd Point Mortgage Trust 2017-6					6.00%, 11/01/2033		369		400
3.25%, 10/25/2057(c),(e)		3,200		2,850	6.00%, 09/01/2034		64		70
		$		12,685	6.00%, 02/01/2035		61		67
TOTAL BONDS		$		431,859	6.00%, 10/01/2036		41		45
U.S. GOVERNMENT & GOVERNMENT		Principal			6.00%, 03/01/2037		76		82
AGENCY OBLIGATIONS - 69.49%	Amount (000's)   Value (000's)				6.00%, 05/01/2037		112		125
Federal Home Loan Mortgage Corporation (FHLMC) - 15.59%					6.00%, 01/01/2038		10		11
2.50%, 08/01/2027	$	1,287	$	1,273	6.00%, 03/01/2038		36		39
2.50%, 02/01/2028		3,965		3,921	6.00%, 04/01/2038		97		105
3.00%, 02/01/2027		3,476		3,494	6.00%, 07/01/2038		137		148
3.00%, 01/01/2033		5,064		5,076	6.00%, 10/01/2038		95		104
3.00%, 04/01/2035		2,405		2,412	6.50%, 12/01/2021		77		79
3.00%, 10/01/2042		6,203		6,133	6.50%, 04/01/2022		83		86
3.00%, 10/01/2042		7,282		7,199	6.50%, 05/01/2022		47		47
3.00%, 05/01/2043		2,661		2,629	6.50%, 08/01/2022		23		24
3.00%, 07/01/2045		7,129		7,032	6.50%, 05/01/2023		58		59
3.00%, 10/01/2046		8,521		8,414	6.50%, 07/01/2023		2		2
3.00%, 01/01/2047		7,061		6,973	6.50%, 07/01/2025		1		1
3.50%, 11/01/2026		1,917		1,952	6.50%, 09/01/2025		1		1
3.50%, 02/01/2032		3,987		4,068	6.50%, 10/01/2025		1		1
3.50%, 04/01/2032		3,498		3,569	6.50%, 03/01/2029		36		40
3.50%, 12/01/2041		2,543		2,577	6.50%, 04/01/2031		147		160
3.50%, 04/01/2042		7,543		7,644	6.50%, 10/01/2031		51		57
3.50%, 07/01/2042		8,447		8,559	6.50%, 02/01/2032		8		8
3.50%, 08/01/2043		5,726		5,802	6.50%, 04/01/2032		7		8
3.50%, 02/01/2044		6,445		6,509	6.50%, 04/01/2035		5		6
3.50%, 08/01/2045		6,802		6,900	6.50%, 02/01/2037		28		31

See accompanying notes.

66

     Schedule of Investments Government & High Quality Bond Fund January 31, 2019 (unaudited)

U.S. GOVERNMENT & GOVERNMENT		Principal			U.S. GOVERNMENT & GOVERNMENT		Principal
AGENCY OBLIGATIONS (continued)	Amount (000’s) Value (000’s)				AGENCY OBLIGATIONS (continued)	Amount (000’s) Value (000’s)
Federal Home Loan Mortgage Corporation (FHLMC) (continued)					Federal National Mortgage Association (FNMA) (continued)
7.00%, 07/01/2024	$	2	$	2	4.00%, 01/01/2034	$	1,256	$	1,304
7.00%, 01/01/2028		244		259	4.00%, 10/01/2037		6,668		6,873
7.00%, 06/01/2029		78		86	4.00%, 09/01/2040		2,707		2,796
7.00%, 01/01/2031		1		1	4.00%, 02/01/2042		2,114		2,188
7.00%, 04/01/2031		53		57	4.00%, 01/01/2043		2,051		2,131
7.00%, 10/01/2031		83		91	4.00%, 03/01/2043		3,781		3,912
7.00%, 04/01/2032		140		159	4.00%, 08/01/2043		7,025		7,310
7.50%, 12/01/2030		3		3	4.00%, 04/01/2044		2,811		2,925
7.50%, 02/01/2031		1		2	4.00%, 08/01/2044		9,876		10,276
7.50%, 02/01/2031		15		16	4.00%, 08/01/2044		3,769		3,921
8.00%, 08/01/2030		1		1	4.00%, 11/01/2044		2,959		3,079
8.50%, 07/01/2029		73		77	4.00%, 12/01/2044		6,094		6,341
		$		224,825	4.00%, 02/01/2045		5,084		5,290
Federal National Mortgage Association (FNMA) - 40.97%					4.00%, 07/01/2045		5,781		5,956
2.00%, 08/01/2028		2,377		2,307	4.00%, 08/01/2045		5,975		6,218
2.00%, 07/01/2030		6,064		5,825	4.00%, 09/01/2045		10,269		10,685
2.50%, 06/01/2027		4,768		4,719	4.00%, 05/01/2046		12,034		12,486
2.50%, 05/01/2028		2,080		2,058	4.00%, 07/01/2046		7,615		7,911
2.50%, 08/01/2028		2,804		2,775	4.00%, 07/01/2047		7,889		8,168
2.50%, 03/01/2030		6,323		6,239	4.00%, 10/01/2047		6,474		6,696
2.50%, 12/01/2031		8,203		8,075	4.00%, 12/01/2047		5,367		5,560
3.00%, 04/01/2027		3,224		3,241	4.00%, 02/01/2048		7,768		8,028
3.00%, 05/01/2029		5,372		5,387	4.48%, 12/01/2033		86		89
3.00%, 01/01/2030		465		466	1.00 x 12 Month USD LIBOR + 1.60%
3.00%, 08/01/2031		9,402		9,424	4.50%, 12/01/2019		5		5
3.00%, 10/01/2036		6,333		6,312	4.50%, 01/01/2020		19		19
3.00%, 11/01/2042		7,612		7,520	4.50%, 09/01/2025		1,377		1,419
3.00%, 12/01/2042		5,882		5,810	4.50%, 08/01/2039		2,894		3,059
3.00%, 12/01/2042		5,722		5,652	4.50%, 03/01/2041		3,612		3,796
3.00%, 01/01/2043		5,461		5,394	4.50%, 03/01/2042		7,969		8,456
3.00%, 02/01/2043		5,814		5,742	4.50%, 09/01/2043		6,525		6,924
3.00%, 04/01/2043		6,843		6,771	4.50%, 09/01/2043		3,716		3,944
3.00%, 06/01/2043		10,433		10,307	4.50%, 11/01/2043		5,929		6,292
3.00%, 08/01/2043		6,821		6,738	4.50%, 09/01/2044		4,838		5,134
3.00%, 07/01/2045		2,814		2,778	4.50%, 10/01/2044		3,385		3,591
3.00%, 01/01/2046		5,490		5,425	4.50%, 12/01/2044		8,196		8,696
3.00%, 05/01/2046		5,442		5,376	4.50%, 05/01/2045		3,620		3,841
3.00%, 07/01/2046		7,690		7,567	4.50%, 09/01/2045		5,405		5,718
3.00%, 09/01/2046		6,390		6,309	4.50%, 10/01/2045		6,887		7,307
3.00%, 10/01/2046		7,306		7,197	4.50%, 11/01/2045		8,648		9,143
3.00%, 11/01/2046		11,502		11,353	4.50%, 09/01/2048		12,575		13,329
3.00%, 12/01/2046		8,481		8,346	4.75%, 11/01/2033		9		10
3.00%, 01/01/2047		6,470		6,386	1.00 x 6 Month USD LIBOR + 2.26%
3.50%, 08/01/2031		4,703		4,800	5.00%, 01/01/2026		51		54
3.50%, 02/01/2033		9,306		9,496	5.00%, 04/01/2035		146		157
3.50%, 02/01/2042		6,093		6,163	5.00%, 05/01/2035		71		76
3.50%, 06/01/2042		3,171		3,207	5.00%, 07/01/2035		24		26
3.50%, 07/01/2042		4,820		4,881	5.00%, 02/01/2038		1,914		2,061
3.50%, 09/01/2042		8,323		8,427	5.00%, 03/01/2038		1,276		1,374
3.50%, 11/01/2042		4,860		4,921	5.00%, 02/01/2040		6,471		6,975
3.50%, 02/01/2043		1,984		2,014	5.00%, 05/01/2040		2,561		2,761
3.50%, 05/01/2043		4,877		4,945	5.00%, 07/01/2040		1,686		1,817
3.50%, 05/01/2043		2,576		2,614	5.00%, 07/01/2041		7,409		7,988
3.50%, 09/01/2044		14,486		14,701	5.00%, 02/01/2044		3,320		3,570
3.50%, 10/01/2044		6,449		6,544	5.00%, 06/01/2044		3,332		3,584
3.50%, 11/01/2044		5,650		5,754	5.00%, 05/01/2048		5,740		6,214
3.50%, 03/01/2045		3,119		3,157	5.50%, 06/01/2019		2		2
3.50%, 03/01/2045		5,262		5,335	5.50%, 07/01/2019		1		1
3.50%, 06/01/2045		6,530		6,625	5.50%, 07/01/2019		3		3
3.50%, 08/01/2045		5,730		5,815	5.50%, 08/01/2019		1		1
3.50%, 09/01/2045		5,066		5,126	5.50%, 09/01/2019		1		1
3.50%, 10/01/2045		5,749		5,833	5.50%, 06/01/2026		56		59
3.50%, 11/01/2045		10,717		10,856	5.50%, 05/01/2033		79		81
3.50%, 01/01/2046		5,051		5,122	5.50%, 07/01/2033		578		629
3.50%, 03/01/2046		7,112		7,211	5.50%, 02/01/2037		5		5
3.50%, 04/01/2046		7,571		7,671	5.50%, 12/01/2037		794		858
3.50%, 12/01/2046		8,371		8,458	5.50%, 03/01/2038		208		226
3.50%, 10/01/2047		5,372		5,434	6.00%, 12/01/2022		7		8

See accompanying notes.

67

Schedule of Investments
Government & High Quality Bond Fund
January 31, 2019 (unaudited)
U.S. GOVERNMENT & GOVERNMENT		Principal			U.S. GOVERNMENT & GOVERNMENT		Principal
AGENCY OBLIGATIONS (continued)	Amount (000’s) Value (000’s)				AGENCY OBLIGATIONS (continued)	Amount (000’s) Value (000’s)
Federal National Mortgage Association (FNMA) (continued)					Government National Mortgage Association (GNMA) (continued)
6.00%, 03/01/2029	$	37	$	40	3.50%, 10/20/2047	$	5,191	$	5,259
6.00%, 12/01/2031		2		2	3.50%, 11/20/2047		4,955		5,019
6.00%, 12/01/2031		2		2	4.00%, 08/15/2041		4,050		4,204
6.00%, 01/01/2032		126		132	4.00%, 09/15/2041		6,360		6,620
6.00%, 11/01/2032		6		7	4.00%, 03/15/2044		3,997		4,155
6.00%, 04/01/2033		177		187	4.00%, 10/20/2044		3,631		3,747
6.00%, 03/01/2034		134		145	5.00%, 02/15/2034		119		128
6.00%, 09/01/2034		430		455	5.00%, 10/15/2039		2,543		2,729
6.00%, 11/01/2037		11		12	5.50%, 07/20/2033		998		1,091
6.00%, 02/01/2038		49		53	5.50%, 03/20/2034		1,022		1,116
6.00%, 03/01/2038		53		58	5.50%, 05/20/2035		107		117
6.00%, 04/01/2039		626		691	6.00%, 10/15/2023		62		67
6.50%, 09/01/2024		132		143	6.00%, 11/15/2023		24		25
6.50%, 08/01/2028		18		20	6.00%, 11/15/2023		10		11
6.50%, 12/01/2028		33		36	6.00%, 12/15/2023		6		7
6.50%, 02/01/2029		17		18	6.00%, 03/15/2024		10		11
6.50%, 03/01/2029		25		27	6.00%, 04/20/2026		33		35
6.50%, 04/01/2029		23		25	6.00%, 10/20/2028		5		5
6.50%, 06/01/2031		63		68	6.00%, 02/20/2029		58		64
6.50%, 06/01/2031		69		74	6.00%, 09/15/2032		60		64
6.50%, 06/01/2031		71		79	6.00%, 02/15/2033		17		19
6.50%, 12/01/2031		2		2	6.00%, 07/20/2033		791		868
6.50%, 01/01/2032		30		33	6.00%, 08/15/2038		67		72
6.50%, 04/01/2032		195		213	6.50%, 09/15/2023		9		9
6.50%, 04/01/2032		20		21	6.50%, 09/15/2023		14		15
6.50%, 08/01/2032		75		81	6.50%, 09/15/2023		3		4
6.50%, 11/01/2032		358		388	6.50%, 10/15/2023		12		13
6.50%, 11/01/2032		98		105	6.50%, 12/15/2023		12		13
6.50%, 02/01/2033		144		158	6.50%, 12/15/2023		12		13
6.50%, 04/01/2036		5		6	6.50%, 12/15/2023		7		8
6.50%, 08/01/2036		81		94	6.50%, 12/15/2023		3		3
6.50%, 08/01/2036		46		52	6.50%, 01/15/2024		20		22
6.50%, 10/01/2036		35		40	6.50%, 01/15/2024		1		1
6.50%, 11/01/2036		26		30	6.50%, 01/15/2024		4		5
6.50%, 07/01/2037		23		25	6.50%, 01/15/2024		10		11
6.50%, 07/01/2037		14		15	6.50%, 01/15/2024		3		3
6.50%, 08/01/2037		392		446	6.50%, 01/15/2024		2		2
6.50%, 08/01/2037		34		39	6.50%, 03/15/2024		7		7
6.50%, 02/01/2038		25		28	6.50%, 04/15/2024		8		9
6.50%, 05/01/2038		3		3	6.50%, 04/20/2024		4		5
7.00%, 05/01/2022		5		5	6.50%, 07/15/2024		20		22
7.00%, 08/01/2028		53		58	6.50%, 01/15/2026		5		5
7.00%, 12/01/2028		56		62	6.50%, 03/15/2026		7		8
7.00%, 07/01/2029		55		62	6.50%, 07/20/2026		1		1
7.00%, 11/01/2031		141		152	6.50%, 10/20/2028		7		7
7.00%, 07/01/2032		125		135	6.50%, 03/20/2031		52		60
7.50%, 12/01/2024		74		78	6.50%, 04/20/2031		43		48
7.50%, 07/01/2029		6		6	6.50%, 07/15/2031		1		1
7.50%, 02/01/2030		63		66	6.50%, 10/15/2031		10		11
7.50%, 01/01/2031		1		1	6.50%, 07/15/2032		3		3
7.50%, 08/01/2032		8		8	6.50%, 05/20/2034		530		601
8.50%, 09/01/2025		1		1	6.80%, 04/20/2025		25		25
9.00%, 09/01/2030		2		2	7.00%, 11/15/2022		2		2
		$		590,655	7.00%, 12/15/2022		18		19
Government National Mortgage Association (GNMA) - 8.00%					7.00%, 01/15/2023		2		2
3.00%, 11/15/2042		6,544		6,520	7.00%, 01/15/2023		5		5
3.00%, 11/15/2042		4,489		4,469	7.00%, 01/15/2023		6		6
3.00%, 12/15/2042		4,446		4,431	7.00%, 02/15/2023		14		14
3.00%, 02/15/2043		5,046		5,028	7.00%, 07/15/2023		5		5
3.00%, 09/20/2046		7,268		7,238	7.00%, 07/15/2023		3		3
3.00%, 11/20/2046		4,991		4,964	7.00%, 07/15/2023		5		5
3.50%, 08/20/2042		4,595		4,663	7.00%, 08/15/2023		10		11
3.50%, 05/15/2043		7,584		7,718	7.00%, 10/15/2023		2		2
3.50%, 06/20/2043		5,374		5,460	7.00%, 12/15/2023		10		10
3.50%, 08/15/2043		6,355		6,464	7.00%, 12/15/2023		4		5
3.50%, 04/20/2045		4,770		4,836	7.00%, 01/15/2026		7		7
3.50%, 02/20/2047		2,313		2,340	7.00%, 01/15/2027		11		11
3.50%, 05/20/2047		13,847		14,114	7.00%, 10/15/2027		7		7

See accompanying notes.

68

     Schedule of Investments Government & High Quality Bond Fund January 31, 2019 (unaudited)

U.S. GOVERNMENT & GOVERNMENT		Principal			(a)	Affiliated Security. Security is either an affiliate (and registered under the
AGENCY OBLIGATIONS (continued)	Amount (000’s)    Value (000’s)					Investment Company Act of 1940) or an affiliate as defined by the Investment
Government National Mortgage Association (GNMA) (continued)						Company Act of 1940 (controls 5.0% or more of the outstanding voting
7.00%, 10/15/2027	$	1	$	1		shares of the security). Please see affiliated sub-schedule for transactional
7.00%, 10/15/2027		1		1		information.
7.00%, 12/15/2027		3		3	(b)	Current yield shown is as of period end.
7.00%, 12/15/2027		1		1	(c)	Certain variable rate securities are not based on a published reference rate
7.00%, 02/15/2028		1		1		and spread but are determined by the issuer or agent and are based on current
7.00%, 04/15/2028		2		2		market conditions.  These securities do not indicate a reference rate and
7.00%, 06/15/2028		96		103		spread in their description. Rate shown is the rate in effect as of period end.
7.00%, 12/15/2028		56		60	(d)	Security is an Interest Only Strip.
7.00%, 01/15/2029		38		40	(e)	Security exempt from registration under Rule 144A of the Securities Act of
7.00%, 03/15/2029		22		22		1933. These securities may be resold in transactions exempt from registration,
7.00%, 04/15/2029		7		7		normally to qualified institutional buyers. At the end of the period, the value of
7.00%, 04/15/2029		149		160		these securities totaled $64,745 or 4.49% of net assets.
7.00%, 05/15/2031		6		7	(f)	Non-income producing security
7.00%, 07/15/2031		1		1	(g)	Security is a Principal Only Strip.
7.00%, 09/15/2031		1		1
7.50%, 12/15/2021		9		9		Portfolio Summary  (unaudited)
7.50%, 03/15/2022		4		4	Sector		Percent
7.50%, 04/15/2022		1		1	Mortgage Securities		93.30	%
7.50%, 04/15/2022		13		13	Government		4.93	%
7.50%, 08/15/2022		1		1	Asset Backed Securities		1.22	%
7.50%, 08/15/2022		9		9	Investment Companies		0.28	%
7.50%, 08/15/2022		2		2	Other Assets and Liabilities		0.27	%
7.50%, 02/15/2023		5		5	TOTAL NET ASSETS		100.00	%
7.50%, 05/15/2023		5		5
7.50%, 05/15/2023		1		1
7.50%, 06/15/2023		3		3
7.50%, 03/15/2024		8		9
7.50%, 08/15/2024		1		1
7.50%, 05/15/2027		5		4
7.50%, 05/15/2027		13		13
7.50%, 06/15/2027		8		8
7.50%, 08/15/2029		23		23
7.50%, 10/15/2029		15		16
7.50%, 11/15/2029		42		43
8.00%, 02/15/2022		6		6
8.00%, 04/15/2022		2		2
8.00%, 12/15/2030		5		6
9.00%, 11/15/2021		14		14
9.50%, 08/15/2021		9		9
		$		115,344
U.S. Treasury - 4.47%
1.13%, 03/31/2020		6,400		6,298
2.00%, 02/15/2025		3,700		3,596
2.13%, 12/31/2022		4,920		4,862
3.13%, 05/15/2021		16,000		16,233
4.25%, 11/15/2040		8,710		10,577
4.50%, 02/15/2036		6,000		7,427
5.25%, 11/15/2028		7,740		9,464
6.25%, 08/15/2023		5,100		5,923
		$		64,380
U.S. Treasury Strip - 0.46%
0.00%, 05/15/2020(f),(g)		6,800		6,587
TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY
OBLIGATIONS		$		1,001,791
Total Investments		$		1,437,728
Other Assets and Liabilities -  0.27%				3,910
TOTAL NET ASSETS - 100.00%		$		1,441,638

See accompanying notes.

69

Schedule of Investments
Government & High Quality Bond Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018		Purchases			Sales		January 31, 2019
		Value		Cost			Proceeds		Value
Principal Government Money Market Fund 2.32%	$	15,236	$	67,356	$		78,514	$		4,078
	$	15,236	$	67,356	$		78,514	$		4,078
				Realized Gain/Loss			Realized Gain from		Change in Unrealized
		Income		on Investments		Capital Gain Distributions			Gain/Loss
Principal Government Money Market Fund 2.32%	$	36	$	— $			— $		—
	$	36	$	— $			— $		—
Amounts in thousands

See accompanying notes.

70

     Schedule of Investments Government Money Market Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 8.90%		Shares Held        Value (000's)				U.S. GOVERNMENT & GOVERNMENT		Principal
Money Market Funds - 8.90%						AGENCY OBLIGATIONS - 5.16%	Amount (000's)    Value (000's)
DWS Government Money Market Series 2.43%(a)		91,200,000	$	91,200		U.S. Treasury Bill - 5.16%
Goldman Sachs Financial Square Funds -		58,900,000		58,900		2.30%, 02/07/2019	$	25,000	$	24,991
Government Fund 2.36%(a)						2.34%, 02/12/2019		90,000		89,935
Morgan Stanley Institutional Liquidity Funds -		81,800,000		81,800		2.35%, 02/05/2019		50,000		49,987
Government Portfolio 2.37%(a)								$		164,913
STIT - Government & Agency Portfolio 2.33%(a)		52,500,000		52,500		TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY
		$		284,400		OBLIGATIONS		$		164,913
TOTAL INVESTMENT COMPANIES		$		284,400				Maturity
		Principal				REPURCHASE AGREEMENTS - 27.08%	Amount (000's)   Value (000's)
BONDS - 59.01%	Amount (000's)      Value (000's)					Banks- 27.08%
Finance - Mortgage Loan/Banker - 59.01%						Bank of Montreal Repurchase Agreement; 2.52% $		100,007	$	100,000
Fannie Mae Discount Notes						dated 01/31/2019 maturing 02/01/2019
2.39%, 03/25/2019	$	45,000	$	44,845		(collateralized by US Government Securities;
Federal Home Loan Bank Discount Notes						$102,000,066; 0.00%-3.63%; dated
2.34%, 02/06/2019		47,250		47,235		05/15/2019-02/15/2046)
2.35%, 02/22/2019		16,300		16,278		Bank of New York Mellon Repurchase		140,010		140,000
2.36%, 02/01/2019		75,000		75,000		Agreement; 2.52% dated 01/31/2019 maturing
2.36%, 02/13/2019		50,000		49,961		02/01/2019 (collateralized by US Government
2.36%, 02/27/2019		35,000		34,940		Securities; $142,800,052; 2.00%-2.13%; dated
2.37%, 02/08/2019		83,077		83,039		09/30/2020-02/29/2024)
2.37%, 02/11/2019		45,000		44,970		Barclays Capital Inc Repurchase Agreement;		100,007		100,000
2.37%, 02/20/2019		35,000		34,956		2.52% dated 01/31/2019 maturing 02/01/2019
2.37%, 03/27/2019		35,000		34,876		(collateralized by US Government Security;
2.38%, 02/07/2019		25,000		24,990	$	102,000,030; 2.88%; dated 08/15/2028)
2.38%, 02/14/2019		50,000		49,957		BNP Paribas Securities Corp Repurchase		100,007		100,000
2.38%, 02/15/2019		63,800		63,741		Agreement; 2.58% dated 01/31/2019 maturing
2.38%, 02/19/2019		30,000		29,964		02/01/2019 (collateralized by US Government
2.38%, 02/28/2019		35,000		34,937		Securities; $102,000,000; 0.00%-4.75%; dated
2.38%, 03/01/2019		24,504		24,459		02/28/2019-02/15/2045)
2.38%, 03/15/2019		40,000		39,889		Goldman Sachs Repurchase Agreement; 2.51%		125,009		125,000
2.39%, 02/04/2019		40,000		39,992		dated 01/31/2019 maturing 02/01/2019
2.39%, 02/25/2019		25,000		24,960		(collateralized by US Government Securities;
2.39%, 03/06/2019		30,000		29,934		$127,500,010; 1.13%-6.63%; dated
2.39%, 03/12/2019		30,000		29,922		09/12/2019-03/09/2044)
2.39%, 03/20/2019		50,000		49,844		Merrill Lynch Repurchase Agreement; 2.54%		100,007		100,000
2.40%, 02/26/2019		50,000		49,917		dated 01/31/2019 maturing 02/01/2019
2.40%, 03/04/2019		40,000		39,917		(collateralized by US Government Securities;
2.40%, 03/05/2019		50,000		49,893		$102,000,366; 0.00%-2.00%; dated
2.40%, 03/08/2019		40,000		39,907		04/26/2019-10/05/2022)
2.40%, 03/13/2019		64,000		63,830		Mizuho Securities Repurchase Agreement;		100,007		100,000
2.40%, 03/14/2019		40,000		39,891		2.54% dated 01/31/2019 maturing 02/01/2019
2.40%, 03/18/2019		29,900		29,810		(collateralized by US Government Security;
2.40%, 03/22/2019		50,000		49,836	$	102,000,072; 0.00%; dated 07/05/2019)
2.40%, 04/01/2019		30,000		29,882		Royal Bank of Canada Repurchase Agreement;		100,007		100,000
2.41%, 04/03/2019		40,000		39,837		2.53% dated 01/31/2019 maturing 02/01/2019
2.41%, 04/04/2019		45,000		44,813		(collateralized by US Government Security;
2.41%, 04/15/2019		50,000		49,756	$	102,000,007; 2.13%; dated 12/31/2022)
2.41%, 04/24/2019		50,000		49,726				$		865,000
2.42%, 04/22/2019		50,000		49,731		TOTAL REPURCHASE AGREEMENTS		$		865,000
2.42%, 04/23/2019		50,000		49,728		Total Investments		$		3,199,599
2.43%, 04/05/2019		40,000		39,830		Other Assets and Liabilities -  (0.15)%				(4,725	)
2.44%, 05/06/2019		40,000		39,746		TOTAL NET ASSETS - 100.00%		$		3,194,874
2.50%, 03/07/2019		30,000		29,932
Freddie Mac
2.42%, 06/19/2019		15,000		15,000		(a) Current yield shown is as of period end.
United States Secured Overnight Financing
Rate + 0.03%						Portfolio Summary  (unaudited)
Freddie Mac Discount Notes						Sector				Percent
2.34%, 02/13/2019		13,263		13,253		Government				64.17	%
2.36%, 02/20/2019		30,000		29,963		Financial				27.08	%
2.38%, 02/01/2019		30,000		30,000		Investment Companies				8.90	%
2.38%, 03/04/2019		30,000		29,939		Other Assets and Liabilities				(0.15	)%
2.40%, 04/17/2019		32,800		32,636		TOTAL NET ASSETS				100.00	%
2.41%, 04/08/2019		40,000		39,824
		$		1,885,286
TOTAL BONDS		$		1,885,286

See accompanying notes.

71

Schedule of Investments
High Yield Fund
January 31, 2019 (unaudited)
COMMON STOCKS - 0.51%	Shares Held    Value (000's)					Principal
Energy - Alternate Sources - 0.00%					BONDS (continued)	Amount (000’s) Value (000’s)
Ogden Corp (a),(b),(c)		5,000,000	$	—	Banks (continued)
Oil & Gas - 0.41%					ING Groep NV
Chaparral Energy Inc - A Shares (a)		986,642		7,587	6.00%, 12/31/2049(k),(l)	$	5,330	$	5,326
Patterson-UTI Energy Inc		338,411		4,105	USD Swap Semi-Annual 5 Year + 4.45%
		$		11,692	JPMorgan Chase & Co
Retail - 0.10%					4.62%, 12/31/2049(k),(l)		10,025		9,244
Claire's Holdings LLC (a),(b),(c)		4,036		3,027	3 Month USD LIBOR + 2.58%
TOTAL COMMON STOCKS		$		14,719	Lloyds Banking Group PLC
INVESTMENT COMPANIES - 3.59%	Shares Held    Value (000's)				7.50%, 12/31/2049(k),(l)		4,450		4,506
Money Market Funds - 3.59%					USD Swap Semi-Annual 5 Year + 4.50%
Principal Government Money Market Fund	103,130,683			103,131	Popular Inc
2.32%(d),(e)					6.13%, 09/14/2023		8,720		8,947
TOTAL INVESTMENT COMPANIES		$		103,131			$		58,056
PREFERRED STOCKS - 0.10%	Shares Held   Value (000's)				Building Materials - 0.67%
Agriculture - 0.06%					BMC East LLC
Pinnacle Operating Corp 0.00% (a),(c),(f)	11,469,815 $			1,835	5.50%, 10/01/2024(g)		11,835		11,287
					Standard Industries Inc/NJ
Retail - 0.04%					4.75%, 01/15/2028(g)		8,820		7,985
Claire's Stores 0.00% (a),(b),(c)		1,064		1,064			$		19,272
TOTAL PREFERRED STOCKS		$		2,899
	Principal				Chemicals - 3.16%
BONDS - 85.37%	Amount (000's)   Value (000's)				Alpha 2 BV
					8.75%, PIK 9.50%, 06/01/2023(g),(i),(j)		6,300		6,095
Aerospace & Defense - 2.28%					Aruba Investments Inc
Air 2 US					8.75%, 02/15/2023(g)		11,725		11,491
8.63%, 10/01/2020(g)	$	831	$	840	Blue Cube Spinco LLC
BBA US Holdings Inc					9.75%, 10/15/2023		5,350		5,965
5.38%, 05/01/2026(g)		2,890		2,890	CF Industries Inc
Bombardier Inc					5.15%, 03/15/2034		13,265		12,204
7.50%, 03/15/2025(g)		35,735		34,439	Consolidated Energy Finance SA
TransDigm Inc					6.50%, 05/15/2026(g)		13,785		13,475
6.25%, 03/15/2026(g),(h)		7,415		7,526	6.88%, 06/15/2025(g)		20,910		20,596
Triumph Group Inc					NOVA Chemicals Corp
7.75%, 08/15/2025		23,120		19,710	5.25%, 06/01/2027(g)		10,415		9,504
		$		65,405	Olin Corp
Agriculture - 0.31%					5.00%, 02/01/2030		3,545		3,270
Pinnacle Operating Corp					Starfruit Finco BV / Starfruit US Holdco LLC
9.00%, 05/15/2023(g)		16,469		8,893	8.00%, 10/01/2026(g)		8,150		8,130
Airlines - 0.06%							$		90,730
American Airlines 2015-1 Class B Pass Through					Coal - 0.30%
Trust					Alliance Resource Operating Partners LP /
3.70%, 11/01/2024		1,906		1,854	Alliance Resource Finance Corp
Automobile Manufacturers - 1.29%					7.50%, 05/01/2025(g)		8,415		8,741
Jaguar Land Rover Automotive PLC					Commercial Services - 2.10%
3.50%, 03/15/2020(g)		7,400		7,252	Ahern Rentals Inc
4.50%, 10/01/2027(g)		7,565		5,598	7.38%, 05/15/2023(g)		17,235		14,994
Mclaren Finance PLC					Garda World Security Corp
5.75%, 08/01/2022(g)		1,480		1,369	8.75%, 05/15/2025(g)		14,630		13,569
Navistar International Corp					Refinitiv US Holdings Inc
6.63%, 11/01/2025(g)		22,808		22,808	8.25%, 11/15/2026(g)		4,745		4,448
		$		37,027	TMS International Corp
Automobile Parts & Equipment - 1.03%					7.25%, 08/15/2025(g)		11,135		10,467
American Axle & Manufacturing Inc					United Rentals North America Inc
6.25%, 04/01/2025		19,180		18,653	4.63%, 10/15/2025		6,135		5,887
Dana Inc					4.88%, 01/15/2028		2,815		2,671
5.50%, 12/15/2024		8,530		8,359	5.88%, 09/15/2026		2,720		2,761
IHO Verwaltungs GmbH					6.50%, 12/15/2026		5,225		5,421
4.75%, PIK 5.50%, 09/15/2026(g),(i),(j)		2,985		2,701			$		60,218
		$		29,713	Computers - 1.23%
Banks - 2.02%					Dell International LLC / EMC Corp
Barclays PLC					7.13%, 06/15/2024(g)		33,590		35,439
4.84%, 05/09/2028		7,865		7,555	Consumer Products - 0.60%
7.75%, 12/31/2049(k),(l)		4,830		4,816	Prestige Brands Inc
USD Swap Semi-Annual 5 Year + 4.84%					6.38%, 03/01/2024(g)		9,095		9,050
CIT Group Inc					Spectrum Brands Inc
5.00%, 08/15/2022		8,500		8,712	5.75%, 07/15/2025		8,205		8,084
5.25%, 03/07/2025		1,270		1,308			$		17,134
5.80%, 12/31/2049(k),(l)		5,180		4,950
3 Month USD LIBOR + 3.97%
6.13%, 03/09/2028		2,540		2,692

See accompanying notes.

72

     Schedule of Investments High Yield Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s) Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Distribution & Wholesale - 1.21%					Entertainment - 3.35%
American Builders & Contractors Supply Co Inc					Boyne USA Inc
5.75%, 12/15/2023(g)	$	7,220	$	7,419	7.25%, 05/01/2025(g)	$	6,939	$	7,303
5.88%, 05/15/2026(g)		6,930		6,945	Caesars Resort Collection LLC / CRC Finco Inc
Global Partners LP / GLP Finance Corp					5.25%, 10/15/2025(g)		18,190		17,031
7.00%, 06/15/2023		9,225		8,994	CCM Merger Inc
H&E Equipment Services Inc					6.00%, 03/15/2022(g)		14,220		14,362
5.63%, 09/01/2025		11,750		11,486	Eldorado Resorts Inc
		$		34,844	6.00%, 04/01/2025		3,340		3,359
Diversified Financial Services - 4.17%					6.00%, 09/15/2026(g)		14,030		13,995
Ally Financial Inc					Enterprise Development Authority/The
5.75%, 11/20/2025		26,340		27,598	12.00%, 07/15/2024(g)		14,350		13,525
Avation Capital SA					International Game Technology PLC
6.50%, 05/15/2021(g)		5,900		5,878	6.25%, 01/15/2027(g)		2,030		2,058
Credit Acceptance Corp					6.50%, 02/15/2025(g)		11,815		12,297
6.13%, 02/15/2021		12,090		12,120	Scientific Games International Inc
7.38%, 03/15/2023		8,140		8,354	5.00%, 10/15/2025(g)		8,485		8,042
Doric Nimrod Air Finance Alpha Ltd 2012-1					10.00%, 12/01/2022		4,100		4,310
Class B Pass Through Trust							$		96,282
6.50%, 05/30/2021(g)		466		470	Food - 2.65%
E*TRADE Financial Corp					Albertsons Cos LLC / Safeway Inc / New
5.30%, 12/31/2049(k),(l)		15,680		14,237	Albertsons LP / Albertson's LLC
3 Month USD LIBOR + 3.16%					7.50%, 03/15/2026(g),(h)		17,225		17,268
Lions Gate Capital Holdings LLC					Ingles Markets Inc
5.88%, 11/01/2024(g)		8,635		8,484	5.75%, 06/15/2023		15,890		16,049
6.38%, 02/01/2024(g),(h)		8,885		8,974	JBS USA LUX SA / JBS USA Finance Inc
Navient Corp					5.75%, 06/15/2025(g)		7,835		7,815
6.13%, 03/25/2024		5,490		5,253	7.25%, 06/01/2021(g)		13,258		13,383
6.63%, 07/26/2021		4,245		4,362	Post Holdings Inc
6.75%, 06/15/2026		4,900		4,618	5.00%, 08/15/2026(g)		18,185		17,189
Springleaf Finance Corp					5.75%, 03/01/2027(g)		4,490		4,399
6.88%, 03/15/2025		11,390		10,892			$		76,103
Vantiv LLC / Vantiv Issuer Corp					Forest Products & Paper - 0.20%
4.38%, 11/15/2025(g)		8,780		8,429	Sappi Papier Holding GmbH
		$		119,669	7.50%, 06/15/2032(g)		5,985		5,656
Electric - 1.94%					Gas - 0.57%
Clearway Energy Operating LLC					NGL Energy Partners LP / NGL Energy Finance
5.75%, 10/15/2025(g)		4,095		3,783	Corp
Elwood Energy LLC					7.50%, 11/01/2023		16,082		16,288
8.16%, 07/05/2026		5,378		5,809	Healthcare - Products - 1.12%
Indiantown Cogeneration LP					Agiliti Health Inc
9.77%, 12/15/2020		946		999	7.63%, 08/15/2020		15,905		15,905
NRG Energy Inc					DJO Finance LLC / DJO Finance Corp
6.25%, 05/01/2024		12,590		13,031	8.13%, 06/15/2021(g)		8,045		8,360
6.63%, 01/15/2027		1,960		2,063	Kinetic Concepts Inc / KCI USA Inc
7.25%, 05/15/2026		8,070		8,722	7.88%, 02/15/2021(g)		7,745		7,900
Vistra Energy Corp							$		32,165
8.13%, 01/30/2026(g)		1,840		1,987	Healthcare - Services - 4.84%
Vistra Operations Co LLC					AHP Health Partners Inc
5.50%, 09/01/2026(g)		10,735		10,869	9.75%, 07/15/2026(g)		9,500		9,856
5.63%, 02/15/2027(g),(h)		8,335		8,377	Centene Corp
		$		55,640	4.75%, 05/15/2022		2,695		2,743
Electrical Components & Equipment - 0.40%					5.38%, 06/01/2026(g)		6,460		6,670
Energizer Holdings Inc					6.13%, 02/15/2024		9,525		9,977
5.50%, 06/15/2025(g)		4,600		4,382	HCA Inc
6.38%, 07/15/2026(g)		7,407		7,203	4.75%, 05/01/2023		21,400		21,988
		$		11,585	5.00%, 03/15/2024		14,905		15,509
Electronics - 0.14%					5.50%, 06/15/2047		6,070		6,324
Sensata Technologies BV					5.88%, 03/15/2022		2,165		2,295
5.00%, 10/01/2025(g)		3,905		3,925	5.88%, 02/01/2029		5,100		5,342
Engineering & Construction - 0.46%					MPH Acquisition Holdings LLC
MasTec Inc					7.13%, 06/01/2024(g)		17,212		17,091
4.88%, 03/15/2023		6,400		6,416	RegionalCare Hospital Partners Holdings Inc /
Tutor Perini Corp					LifePoint Health Inc
6.88%, 05/01/2025(g)		6,750		6,676	9.75%, 12/01/2026(g)		100		100
		$		13,092	Tenet Healthcare Corp
					4.63%, 07/15/2024		13,860		13,576
					6.25%, 02/01/2027(g),(h)		6,805		6,848

See accompanying notes.

73

     Schedule of Investments High Yield Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Healthcare - Services (continued)					Machinery - Diversified - 0.49%
WellCare Health Plans Inc					Cloud Crane LLC
5.25%, 04/01/2025	$	20,275	$	20,579	10.13%, 08/01/2024(g)	$	13,095	$	13,946
		$		138,898	Media - 7.79%
Home Builders - 2.13%					Altice Financing SA
Century Communities Inc					6.63%, 02/15/2023(g)		15,100		15,180
5.88%, 07/15/2025		18,005		16,565	Altice France SA/France
Lennar Corp					8.13%, 02/01/2027(g)		9,145		8,984
4.50%, 04/30/2024		4,537		4,458	Altice Luxembourg SA
4.75%, 11/15/2022		7,561		7,589	7.75%, 05/15/2022(g)		12,260		11,892
4.88%, 12/15/2023		5,060		5,060	AMC Networks Inc
LGI Homes Inc					4.75%, 08/01/2025		11,380		10,996
6.88%, 07/15/2026(g)		8,735		8,407	5.00%, 04/01/2024		7,435		7,379
Taylor Morrison Communities Inc / Taylor					CCO Holdings LLC / CCO Holdings Capital Corp
Morrison Holdings II Inc					5.13%, 05/01/2023(g)		34,210		34,668
5.63%, 03/01/2024(g)		8,500		8,330	5.50%, 05/01/2026(g)		2,840		2,833
Williams Scotsman International Inc					CSC Holdings LLC
7.88%, 12/15/2022(g)		10,795		10,903	5.50%, 04/15/2027(g)		3,195		3,123
		$		61,312	6.50%, 02/01/2029(g)		12,688		12,855
Insurance - 3.57%					6.63%, 10/15/2025(g)		4,225		4,420
Acrisure LLC / Acrisure Finance Inc					10.13%, 01/15/2023(g)		13,135		14,183
8.13%, 02/15/2024(g)		3,110		3,164	DISH DBS Corp
AssuredPartners Inc					5.88%, 07/15/2022		12,915		12,269
7.00%, 08/15/2025(g)		7,725		7,377	5.88%, 11/15/2024		11,985		9,933
Catlin Insurance Co Ltd					7.75%, 07/01/2026		8,255		7,099
5.74%, 07/29/2049(g),(k)		12,565		12,094	Meredith Corp
3 Month USD LIBOR + 2.98%					6.88%, 02/01/2026(g)		21,640		22,289
Liberty Mutual Group Inc					Radiate Holdco LLC / Radiate Finance Inc
5.69%, 03/07/2067(g)		18,417		17,496	6.63%, 02/15/2025(g)		3,925		3,640
3 Month USD LIBOR + 2.91%					6.88%, 02/15/2023(g)		4,515		4,340
Voya Financial Inc					Virgin Media Finance PLC
5.65%, 05/15/2053(l)		45,717		44,346	5.75%, 01/15/2025(g)		5,000		4,927
3 Month USD LIBOR + 3.58%					6.00%, 10/15/2024(g)		2,940		2,978
6.13%, 12/31/2049(k),(l)		6,630		6,564	Virgin Media Secured Finance PLC
US Treasury Yield Curve Rate T Note					5.25%, 01/15/2026(g)		3,965		3,906
Constant Maturity 5 Year + 3.36%					Ziggo Bond Co BV
XLIT Ltd					6.00%, 01/15/2027(g)		13,705		12,626
5.24%, 12/31/2049(k)		12,160		11,582	Ziggo BV
3 Month USD LIBOR + 2.46%					5.50%, 01/15/2027(g)		14,095		13,320
		$		102,623			$		223,840
Internet - 1.07%					Metal Fabrication & Hardware - 0.22%
Netflix Inc					Park-Ohio Industries Inc
4.38%, 11/15/2026		14,505		13,734	6.63%, 04/15/2027		6,640		6,457
Zayo Group LLC / Zayo Capital Inc					Mining - 3.09%
6.00%, 04/01/2023		16,915		17,000	Constellium NV
		$		30,734	5.88%, 02/15/2026(g)		11,785		11,284
Iron & Steel - 0.93%					6.63%, 03/01/2025(g)		8,550		8,507
AK Steel Corp					First Quantum Minerals Ltd
6.38%, 10/15/2025		12,870		10,457	7.25%, 05/15/2022(g)		5,824		5,737
7.50%, 07/15/2023		5,570		5,667	7.50%, 04/01/2025(g)		4,635		4,319
7.63%, 10/01/2021		2,465		2,379	FMG Resources August 2006 Pty Ltd
Commercial Metals Co					5.13%, 03/15/2023(g)		5,950		5,920
4.88%, 05/15/2023		8,468		8,129	5.13%, 05/15/2024(g)		3,885		3,836
		$		26,632	Hudbay Minerals Inc
Leisure Products & Services - 0.43%					7.63%, 01/15/2025(g)		6,600		6,782
Silversea Cruise Finance Ltd					IAMGOLD Corp
7.25%, 02/01/2025(g)		11,655		12,485	7.00%, 04/15/2025(g)		20,355		19,872
Lodging - 1.12%					Midwest Vanadium Pty Ltd
Jack Ohio Finance LLC / Jack Ohio Finance 1					0.00%, 02/15/2018(a),(g)		10,465		20
Corp					Taseko Mines Ltd
6.75%, 11/15/2021(g)		15,360		15,859	8.75%, 06/15/2022(g)		11,715		10,397
Wynn Las Vegas LLC / Wynn Las Vegas Capital					Teck Resources Ltd
Corp					6.25%, 07/15/2041		9,345		9,742
5.25%, 05/15/2027(g)		12,065		11,281	8.50%, 06/01/2024(g)		2,085		2,247
5.50%, 03/01/2025(g)		5,050		4,911			$		88,663
		$		32,051

See accompanying notes.

74

Schedule of Investments
High Yield Fund
January 31, 2019 (unaudited)
	Principal					Principal
BONDS (continued)	Amount (000’s)       Value (000’s)				BONDS (continued)	Amount (000’s)  Value (000’s)
Oil & Gas - 7.03%					Packaging & Containers - 3.75%
Ascent Resources Utica Holdings LLC / ARU					ARD Securities Finance SARL
Finance Corp					8.75%, PIK 8.75%, 01/31/2023(g),(i),(j)	$	80	$	70
7.00%, 11/01/2026(g)	$	6,360	$	6,137	Ardagh Packaging Finance PLC / Ardagh
10.00%, 04/01/2022(g)		8,256		8,824	Holdings USA Inc
Brazos Valley Longhorn LLC / Brazos Valley					6.00%, 02/15/2025(g)		16,190		15,745
Longhorn Finance Corp					7.25%, 05/15/2024(g)		5,010		5,179
6.88%, 02/01/2025		10,535		10,664	BWAY Holding Co
Chesapeake Energy Corp					5.50%, 04/15/2024(g)		2,015		1,968
7.00%, 10/01/2024		11,205		10,939	7.25%, 04/15/2025(g)		19,130		17,647
8.00%, 01/15/2025		8,930		8,986	Crown Americas LLC / Crown Americas Capital
8.00%, 06/15/2027		11,010		10,542	Corp V
Chesapeake Oil Op/Fin Escrow Shares					4.25%, 09/30/2026		2,000		1,900
0.00%, 11/15/2019(a),(b),(c)		11,835		—	Crown Americas LLC / Crown Americas Capital
CrownRock LP / CrownRock Finance Inc					Corp VI
5.63%, 10/15/2025(g)		9,680		9,293	4.75%, 02/01/2026(h)		8,490		8,320
Endeavor Energy Resources LP / EER Finance					Crown Cork & Seal Co Inc
Inc					7.38%, 12/15/2026		16,099		17,568
5.50%, 01/30/2026(g)		7,665		7,991	Flex Acquisition Co Inc
EP Energy LLC / Everest Acquisition Finance Inc					6.88%, 01/15/2025(g)		16,340		15,278
7.75%, 05/15/2026(g)		2,770		2,552	Reynolds Group Issuer Inc / Reynolds
8.00%, 11/29/2024(g)		10,150		8,120	Group Issuer LLC / Reynolds Group Issuer
Extraction Oil & Gas Inc					(Luxembourg) S.A.
7.38%, 05/15/2024(g)		8,405		7,775	5.13%, 07/15/2023(g)		15,260		15,288
Gulfport Energy Corp					6.29%, 07/15/2021(g)		6,620		6,637
6.38%, 05/15/2025		8,585		8,134	3 Month USD LIBOR + 3.50%
Hess Infrastructure Partners LP / Hess					7.00%, 07/15/2024(g)		1,950		1,994
Infrastructure Partners Finance Corp							$		107,594
5.63%, 02/15/2026(g)		10,520		10,415	Pharmaceuticals - 0.30%
Jagged Peak Energy LLC					Bausch Health Cos Inc
5.88%, 05/01/2026(g)		8,305		8,014	5.63%, 12/01/2021(g)		5,075		5,082
Nabors Industries Inc					Valeant Pharmaceuticals International
5.75%, 02/01/2025		8,415		7,321	8.50%, 01/31/2027(g)		3,450		3,605
Oasis Petroleum Inc							$		8,687
6.25%, 05/01/2026(g)		6,270		5,949	Pipelines - 1.48%
6.88%, 01/15/2023		11,825		11,721	Antero Midstream Partners LP / Antero
Sanchez Energy Corp					Midstream Finance Corp
7.25%, 02/15/2023(g)		4,840		4,078	5.38%, 09/15/2024		5,790		5,674
Southwestern Energy Co					NuStar Logistics LP
7.75%, 10/01/2027		14,815		15,259	5.63%, 04/28/2027		10,009		9,709
Sunoco LP / Sunoco Finance Corp					Summit Midstream Holdings LLC / Summit
4.88%, 01/15/2023		10,615		10,456	Midstream Finance Corp
5.50%, 02/15/2026		8,170		8,068	5.75%, 04/15/2025		8,665		8,123
Ultra Resources Inc					Targa Resources Partners LP / Targa Resources
6.88%, 04/15/2022(g)		7,440		2,976	Partners Finance Corp
Unit Corp					5.88%, 04/15/2026(g)		6,382		6,438
6.63%, 05/15/2021		8,600		8,127	6.50%, 07/15/2027(g)		9,407		9,701
Whiting Petroleum Corp					6.88%, 01/15/2029(g)		2,667		2,775
6.25%, 04/01/2023		7,170		7,080			$		42,420
6.63%, 01/15/2026		2,520		2,470	Private Equity - 0.67%
		$		201,891	Icahn Enterprises LP / Icahn Enterprises Finance
Oil & Gas Services - 1.18%					Corp
Archrock Partners LP / Archrock Partners Finance					5.88%, 02/01/2022		7,100		7,154
Corp					6.25%, 02/01/2022		5,585		5,737
6.00%, 10/01/2022		7,955		7,756	6.38%, 12/15/2025		6,240		6,373
Calfrac Holdings LP							$		19,264
8.50%, 06/15/2026(g)		8,080		6,060	REITs - 1.43%
PHI Inc					Equinix Inc
5.25%, 03/15/2019		4,375		3,008	5.38%, 05/15/2027		255		256
USA Compression Partners LP / USA					5.88%, 01/15/2026		15,400		15,905
Compression Finance Corp					Iron Mountain Inc
6.88%, 04/01/2026		7,980		7,980	4.38%, 06/01/2021(g)		6,430		6,414
Weatherford International Ltd					5.25%, 03/15/2028(g)		385		358
4.50%, 04/15/2022		3,855		2,448	Iron Mountain US Holdings Inc
8.25%, 06/15/2023		5,345		3,407	5.38%, 06/01/2026(g)		9,655		9,184
9.88%, 02/15/2024		4,975		3,234	MGM Growth Properties Operating Partnership
		$		33,893	LP / MGP Finance Co-Issuer Inc
					5.63%, 05/01/2024		8,640		8,878
							$		40,995

See accompanying notes.

75

     Schedule of Investments High Yield Fund January 31, 2019 (unaudited)

	Principal					Principal
BONDS (continued)	Amount (000’s)     Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Retail - 1.68%					Telecommunications (continued)
1011778 BC ULC / New Red Finance Inc					Wind Tre SpA
5.00%, 10/15/2025(g)	$	14,895	$	14,373	5.00%, 01/20/2026(g)	$	9,495	$	7,810
Claire's Stores Escrow - GCB							$		212,744
0.00%, 03/15/2019(a),(b),(c)		6,962		—	Transportation - 1.90%
Golden Nugget Inc					Eletson Holdings Inc / Eletson Finance US LLC /
6.75%, 10/15/2024(g)		15,595		15,595	Agathonissos Finance LLC
IRB Holding Corp					9.62%, 01/15/2022(i)		18,905		7,373
6.75%, 02/15/2026(g)		8,665		8,102	Navios Maritime Acquisition Corp / Navios
JC Penney Corp Inc					Acquisition Finance US Inc
8.63%, 03/15/2025(g)		3,065		1,724	8.13%, 11/15/2021(g)		31,710		23,941
L Brands Inc					Navios Maritime Holdings Inc / Navios Maritime
6.88%, 11/01/2035		9,945		8,528	Finance II US Inc
		$		48,322	7.38%, 01/15/2022(g)		16,245		9,503
Savings & Loans - 0.00%					11.25%, 08/15/2022(g)		8,545		5,939
Washington Mutual Bank / Henderson NV					Navios South American Logistics Inc / Navios
0.00%, 06/15/2011(a),(b),(c)		3,500		—	Logistics Finance US Inc
0.00%, 01/15/2013(a)		3,000		—	7.25%, 05/01/2022(g)		8,470		7,919
0.00%, 01/15/2015(a),(b),(c)		2,000		—			$		54,675
3 Month USD LIBOR + 0.65%					Trucking & Leasing - 0.99%
		$		—	Avolon Holdings Funding Ltd
Semiconductors - 0.42%					5.13%, 10/01/2023(g)		4,825		4,898
Sensata Technologies UK Financing Co PLC					5.50%, 01/15/2023(g)		5,190		5,289
6.25%, 02/15/2026(g)		11,500		11,931	DAE Funding LLC
Software - 0.19%					4.50%, 08/01/2022(g)		5,235		5,169
Epicor Software Corp					5.75%, 11/15/2023(g)		8,890		8,979
10.05%, 06/30/2023(g)		5,658		5,488	Park Aerospace Holdings Ltd
3 Month USD LIBOR + 7.25%					5.50%, 02/15/2024(g)		4,040		4,101
Telecommunications - 7.41%							$		28,436
Embarq Corp					TOTAL BONDS		$		2,451,712
8.00%, 06/01/2036		8,035		7,593		Principal
Frontier Communications Corp					CONVERTIBLE BONDS - 0.00%	Amount (000's) Value (000's)
8.50%, 04/01/2026(g)		20,540		18,635	Food - 0.00%
11.00%, 09/15/2025		12,760		8,222	Fresh Express Delivery Holding Group Co Ltd
Goodman Networks Inc					0.00%, 11/09/2009(a)	HKD	46,500		3
8.00%, 05/11/2022		4,557		2,164	0.00%, 10/18/2010(a),(b),(c)	CNY	245,000		—
GTT Communications Inc							$		3
7.88%, 12/31/2024(g)		8,560		7,533	TOTAL CONVERTIBLE BONDS		$		3
Intelsat Jackson Holdings SA					SENIOR FLOATING RATE INTERESTS	Principal
5.50%, 08/01/2023		16,140		14,687	- 9.78%	Amount (000's)  Value (000's)
8.00%, 02/15/2024(g)		3,235		3,368	Automobile Manufacturers - 0.45%
8.50%, 10/15/2024(g)		9,715		9,815	Navistar Financial Corp
Intelsat Luxembourg SA					6.25%, 07/30/2025(m)	$	7,716	$	7,600
7.75%, 06/01/2021		5,955		5,694	US LIBOR + 3.75%
Level 3 Financing Inc					Navistar Inc
5.13%, 05/01/2023		4,440		4,401	6.02%, 11/06/2024(m)		5,445		5,353
5.38%, 01/15/2024		6,895		6,861	US LIBOR + 3.50%
Level 3 Parent LLC							$		12,953
5.75%, 12/01/2022		5,470		5,470	Chemicals - 0.22%
Sprint Capital Corp					Emerald Performance Materials LLC
8.75%, 03/15/2032		9,640		10,580	10.25%, 08/01/2022(m)		6,495		6,430
Sprint Communications Inc					US LIBOR + 6.75%
6.00%, 11/15/2022		13,755		13,910	Commercial Services - 0.87%
7.00%, 08/15/2020		7,000		7,263	Garda World Security Corp
Sprint Corp					6.26%, 05/24/2024(m)		4,022		3,945
7.13%, 06/15/2024		8,840		9,044	US LIBOR + 3.50%
7.63%, 03/01/2026		3,110		3,231	Prime Security Services Borrower LLC
7.88%, 09/15/2023		14,995		15,932	5.25%, 05/02/2022(m)		8,404		8,277
Telecom Italia Capital SA					US LIBOR + 2.75%
6.38%, 11/15/2033		3,120		2,833	Refinitiv US Holdings Inc
Telecom Italia SpA/Milano					6.25%, 09/18/2025(m)		13,440		12,894
5.30%, 05/30/2024(g)		13,065		12,412	US LIBOR + 3.75%
T-Mobile USA Inc							$		25,116
4.00%, 04/15/2022		1,740		1,718	Computers - 0.36%
4.50%, 02/01/2026		3,515		3,427	McAfee LLC
5.13%, 04/15/2025		13,770		13,908	13.12%, 09/29/2025(m)		10,094		10,246
6.00%, 04/15/2024		300		308	US LIBOR + 8.50%
6.50%, 01/15/2024		4,025		4,166
6.50%, 01/15/2026		11,120		11,759

See accompanying notes.

76

     Schedule of Investments High Yield Fund January 31, 2019 (unaudited)

SENIOR FLOATING RATE INTERESTS	Principal				SENIOR FLOATING RATE INTERESTS	Principal
(continued)	Amount (000’s)   Value (000’s)				(continued)	Amount (000’s)   Value (000’s)
Consumer Products - 0.19%					Oil & Gas - 0.65%
Prestige Brands Inc					California Resources Corp
4.50%, 01/26/2024(m)	$	5,530	$	5,447	7.25%, 12/31/2022(m)	$	7,570	$	7,406
US LIBOR + 2.00%					US LIBOR + 4.75%
Diversified Financial Services - 0.69%					12.87%, 12/31/2021(m)		10,680		11,147
Lions Gate Capital Holdings LLC					US LIBOR + 10.37%
4.75%, 03/24/2025(m)		5,479		5,378			$		18,553
US LIBOR + 2.25%					Packaging & Containers - 0.30%
Russell Investments US Institutional Holdco Inc					Caraustar Industries Inc
5.75%, 06/01/2023(m)		14,779		14,558	8.30%, 03/14/2022(m)		8,681		8,670
US LIBOR + 3.25%					US LIBOR + 5.50%
		$		19,936	Pharmaceuticals - 1.29%
Electrical Components & Equipment - 0.04%					Endo International PLC
Energizer Holdings Inc					6.81%, 04/29/2024(m)		2,125		2,102
4.76%, 12/17/2025(m)		1,120		1,112	US LIBOR + 4.25%
US LIBOR + 2.25%					Valeant Pharmaceuticals International
Entertainment - 0.51%					4.99%, 11/14/2025(m)		10,640		10,484
CCM Merger Inc					US LIBOR + 2.75%
4.75%, 08/06/2021(m)		3,983		3,936	5.35%, 05/19/2025(m)		24,784		24,497
US LIBOR + 2.25%					US LIBOR + 3.00%
Eldorado Resorts Inc							$		37,083
0.00%, 04/17/2024(m),(n)		10,910		10,767	Retail - 0.83%
US LIBOR + 2.25%					Academy Ltd
		$		14,703	6.51%, 07/01/2022(m)		11,655		7,998
Environmental Control - 0.10%					US LIBOR + 4.00%
Filtration Group Corp					Claire's Stores Inc
5.50%, 03/31/2025(m)		2,943		2,915	0.75%, 10/12/2022(m)		192		190
US LIBOR + 3.00%					US LIBOR + 7.50%
Food - 0.10%					Claire's Stores, Inc
Post Holdings Inc					9.94%, 09/15/2038(m)		638		957
4.52%, 05/24/2024(m)		2,857		2,818	US LIBOR + 7.25%
US LIBOR + 2.00%					IRB Holding Corp
Healthcare - Products - 0.17%					5.76%, 01/17/2025(m)		4,154		4,039
Kinetic Concepts Inc					US LIBOR + 3.25%
6.05%, 02/02/2024(m)		4,792		4,756	PetSmart Inc
US LIBOR + 3.25%					5.52%, 03/11/2022(m)		12,605		10,535
					US LIBOR + 3.00%
Healthcare - Services - 0.75%							$		23,719
MPH Acquisition Holdings LLC
4.27%, 06/07/2023(m)		7,357		7,111	Telecommunications - 1.33%
US LIBOR + 3.00%					Avaya Inc
RegionalCare Hospital Partners Holdings Inc					6.76%, 12/16/2024(m)		15,969		15,689
7.13%, 11/14/2025(m)		14,785		14,412	US LIBOR + 4.25%
US LIBOR + 4.50%					Level 3 Parent LLC
		$		21,523	4.69%, 02/22/2024(m)		5,125		5,029
					US LIBOR + 2.25%
Insurance - 0.76%					Maxar Technologies Ltd
Asurion LLC					5.25%, 10/05/2024(m)		19,958		17,395
5.50%, 11/03/2023(m)		5,163		5,076	US LIBOR + 2.75%
US LIBOR + 3.00%							$		38,113
9.00%, 08/04/2025(m)		2,085		2,095	TOTAL SENIOR FLOATING RATE INTERESTS		$		280,802
US LIBOR + 6.50%					U.S. GOVERNMENT & GOVERNMENT	Principal
Genworth Holdings Inc					AGENCY OBLIGATIONS - 0.85%	Amount (000's)   Value (000's)
7.01%, 03/07/2023(m)		10,124		10,099
US LIBOR + 4.50%					U.S. Treasury Bill - 0.85%
HUB International Ltd					2.53%, 01/02/2020(o)	$	25,000	$	24,428
5.51%, 04/25/2025(m)		4,846		4,666	TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY
					OBLIGATIONS		$		24,428
US LIBOR + 3.00%					Total Investments		$		2,877,694
		$		21,936	Other Assets and Liabilities -  (0.20)%				(5,830	)
Lodging - 0.06%					TOTAL NET ASSETS - 100.00%		$		2,871,864
Golden Nugget LLC
5.25%, 10/04/2023(m)		1,669		1,640
US LIBOR + 2.75%
Media - 0.11%
CSC Holdings LLC
5.01%, 01/25/2026(m)		3,211		3,133
US LIBOR + 2.50%

See accompanying notes.

77

     Schedule of Investments High Yield Fund January 31, 2019 (unaudited)

(a)

Non-income producing security

(k)

Perpetual security. Perpetual securities pay an indefinite stream of interest,

(b)

The value of these investments was determined using significant unobservable

but they may be called by the issuer at an earlier date. Date shown, if any,

inputs.

reflects the next call date or final legal maturity date. Rate shown is as of

(c)

Fair value of these investments is determined in good faith by the Manager

period end.

under procedures established and periodically reviewed by the Board of

(l)

Rate shown is as of period end. The rate may be a variable or floating rate or

Directors. Certain inputs used in the valuation may be unobservable; however,

a fixed rate which may convert to a variable or floating rate in the future.

each security is evaluated individually for purposes of ASC 820 which results

(m)

Rate information disclosed is based on an average weighted rate of the

in not all securities being identified as Level 3 of the fair value hierarchy. At

underlying tranches as of period end.

the end of the period, the fair value of these securities totaled $5,926 or 0.21%

(n)

This Senior Floating Rate Note will settle after January 31, 2019, at which

of net assets.

time the interest rate will be determined.

(d)

Affiliated Security. Security is either an affiliate (and registered under the

(o)

Rate shown is the discount rate of the original purchase.

Investment Company Act of 1940) or an affiliate as defined by the Investment

Company Act of 1940 (controls 5.0% or more of the outstanding voting

shares of the security). Please see affiliated sub-schedule for transactional

Portfolio Summary  (unaudited)

information.

Sector

Percent

(e)

Current yield shown is as of period end.

Communications

17.71

%

(f)

Restricted Security. Please see Restricted Security Sub-Schedule for more

Consumer, Non-cyclical

15.35

%

Consumer, Cyclical

14.29

%

information.

Financial

13.31

%

(g)

Security exempt from registration under Rule 144A of the Securities Act of

Industrial

11.74

%

1933. These securities may be resold in transactions exempt from registration,

Energy

11.05

%

normally to qualified institutional buyers. At the end of the period, the value of

Basic Materials

7.60

%

these securities totaled $1,369,945 or 47.70% of net assets.

Investment Companies

3.59

%

(h)

Security purchased on a when-issued basis.

Utilities

2.51

%

(i)

Certain variable rate securities are not based on a published reference rate

Technology

2.20

%

and spread but are determined by the issuer or agent and are based on current

Government

0.85

%

market conditions.  These securities do not indicate a reference rate and

Other Assets and Liabilities

(0.20

)%

spread in their description. Rate shown is the rate in effect as of period end.

TOTAL NET ASSETS

100.00

%

(j)

Payment in kind; the issuer has the option of paying additional securities in

lieu of cash.

Affiliated Securities

October 31, 2018

Purchases

Sales

January 31, 2019

Value

Cost

Proceeds

Value

Principal Government Money Market Fund 2.32%

$

12,827

$

309,054

$

218,750

$

103,131

$

12,827

$

309,054

$

218,750

$

103,131

Realized Gain/Loss

Realized Gain from

Change in Unrealized

Income

on Investments

Capital Gain Distributions

Gain/Loss

Principal Government Money Market Fund 2.32%

$

238

$

— $

— $

—

$

238

$

— $

— $

—

Amounts in thousands

Restricted Securities

Security Name

Acquisition Date

Cost

Value

Percent of Net Assets

Pinnacle Operating Corp - 0.00%

03/09/2017

$

5,569

$

1,835

0.06

%

Total

$

1,835

0.06

%

Amounts in thousands.

Foreign Currency Contracts

Unrealized Appreciation/(Depreciation)

Counterparty

Settlement Date

Currency to Accept

Currency to Deliver

Asset

Liability

Barclays Bank PLC

02/19/2019

$

3

HKD

23

$

— $

—

Total

$

— $

—

Amounts in thousands.

Exchange Cleared Credit Default Swaps

Sell Protection

Implied Credit

Spread as of (Pay)/

Upfront

Unrealized

January 31,

Receive Fixed

Payment

Notional

Payments/

Appreciation/

Reference Entity

2019

(a)

Rate

Frequency

Maturity Date

Amount (b)

(Receipts)

(Depreciation)

Fair Value (c)

CDX.NA.HY.31

N/A

5.00%

Quarterly

12/20/2023

$

24,500

$

915

$

547

$

1,462

Total

$

915

$

547

$

1,462

Amounts in thousands.

See accompanying notes.

78

Schedule of Investments
High Yield Fund
January 31, 2019 (unaudited)

Exchange Cleared Credit Default Swaps (continued)

(a) Implied credit spreads, represented in absolute terms, used in determining the market value of credit default swap agreements on corporate issues or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

(b) The maximum potential payment amount that the seller of credit protection could be required to make if a credit event occurs as defined under the terms of that particular swap agreement is $24,500.

(c) The market price and resulting market value for credit default swap agreements on an issuer serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit default swap as of the period end. Increasing market values, in absolute terms, when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

See accompanying notes.

79

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
COMMON STOCKS - 0.06%		Shares Held           Value (000's)					Principal
Distribution & Wholesale - 0.06%					BONDS (continued)	Amount (000’s)    Value (000’s)
ATD New Holdings Inc (a),(b),(c)		101,514	$	2,174	Aerospace & Defense (continued)
Electric - 0.00%					TransDigm Inc   (continued)
Vistra Energy Corp - Rights (a),(b),(c)		164,087		127	6.50%, 07/15/2024	$	2,451	$	2,417
Oil & Gas - 0.00%					6.50%, 05/15/2025		1,554		1,507
Sabine Oil & Gas Holdings Inc		246		11	TransDigm UK Holdings PLC
Sabine Oil & Gas Holdings Inc - Warrants (a)		759		4	6.88%, 05/15/2026(g)		625		606
Sabine Oil & Gas Holdings Inc - Warrants (a)		172		1	Triumph Group Inc
		$		16	4.88%, 04/01/2021		550		509
Retail - 0.00%					5.25%, 06/01/2022		2,255		1,973
Neebo, Inc - Warrants (a),(d)		3,508		—	7.75%, 08/15/2025		1,331		1,135
Neebo, Inc - Warrants (a),(d)		7,519		—			$		52,805
		$		—	Agriculture - 0.04%
Telecommunications - 0.00%					Pyxus International Inc
Goodman Networks Inc (a),(b),(c)		15,207		—	9.88%, 07/15/2021		200		165
TOTAL COMMON STOCKS		$		2,317	Vector Group Ltd
INVESTMENT COMPANIES - 3.34%		Shares Held         Value (000's)			6.13%, 02/01/2025(g)		1,000		876
					10.50%, 11/01/2026(g)		385		367
Money Market Funds - 3.34%							$		1,408
Principal Government Money Market Fund		122,159,958		122,160
2.32%(e),(f)					Airlines - 0.12%
TOTAL INVESTMENT COMPANIES		$		122,160	Air Canada
PREFERRED STOCKS - 0.00%		Shares Held         Value (000's)			7.75%, 04/15/2021(g)		250		267
					American Airlines Group Inc
Telecommunications - 0.00%					4.63%, 03/01/2020(g)		300		300
Goodman Networks Inc 0.00% (a),(b),(c)		18,092	$	13	UAL 2007-1 Pass Through Trust
TOTAL PREFERRED STOCKS		$		13	6.64%, 01/02/2024		221		228
		Principal			United Continental Holdings Inc
BONDS - 82.45%	Amount (000's)        Value (000's)				4.25%, 10/01/2022		500		494
Advertising - 0.36%					5.00%, 02/01/2024		1,737		1,724
Acosta Inc					6.00%, 12/01/2020		1,009		1,035
7.75%, 10/01/2022(g)	$	1,980	$	272	Virgin Australia Holdings Ltd
Lamar Media Corp					7.88%, 10/15/2021(g)		200		197
5.00%, 05/01/2023		1,070		1,078			$		4,245
5.38%, 01/15/2024		506		515	Apparel - 0.09%
5.75%, 02/01/2026		1,851		1,917	Hanesbrands Inc
MDC Partners Inc					4.63%, 05/15/2024(g)		1,045		1,025
6.50%, 05/01/2024(g)		795		724	4.88%, 05/15/2026(g)		1,250		1,197
Outfront Media Capital LLC / Outfront Media					Levi Strauss & Co
Capital Corp					5.00%, 05/01/2025		150		151
5.25%, 02/15/2022		980		990	Under Armour Inc
5.63%, 02/15/2024		2,779		2,817	3.25%, 06/15/2026		500		442
5.88%, 03/15/2025		4,780		4,828	William Carter Co/The
		$		13,141	5.25%, 08/15/2021		400		401
Aerospace & Defense - 1.44%					Wolverine World Wide Inc
Arconic Inc					5.00%, 09/01/2026(g)		80		76
5.13%, 10/01/2024		3,020		3,042			$		3,292
5.40%, 04/15/2021		295		300	Automobile Manufacturers - 0.69%
5.87%, 02/23/2022		1,148		1,186	Allison Transmission Inc
5.90%, 02/01/2027		129		129	4.75%, 10/01/2027(g)		25		23
5.95%, 02/01/2037		771		734	5.00%, 10/01/2024(g)		1,500		1,476
6.15%, 08/15/2020		125		129	Aston Martin Capital Holdings Ltd
6.75%, 01/15/2028		876		880	6.50%, 04/15/2022(g)		1,674		1,640
BBA US Holdings Inc					BCD Acquisition Inc
5.38%, 05/01/2026(g)		2,705		2,705	9.63%, 09/15/2023(g)		12,828		13,566
Bombardier Inc					Deck Chassis Acquisition Inc
5.75%, 03/15/2022(g)		300		286	10.00%, 06/15/2023(g)		68		66
6.00%, 10/15/2022(g)		1,450		1,397	Fiat Chrysler Automobiles NV
6.13%, 01/15/2023(g)		1,512		1,461	4.50%, 04/15/2020		1,900		1,907
7.50%, 12/01/2024(g)		400		388	5.25%, 04/15/2023		1,867		1,888
7.50%, 03/15/2025(g)		1,768		1,704	General Motors Co
7.75%, 03/15/2020(g)		569		586	0.00%, 12/01/2020(a),(b),(c),(d)		25		—
8.75%, 12/01/2021(g)		1,000		1,062	0.00%, 12/01/2020(a),(b),(c),(d)		50		—
Moog Inc					0.00%, 07/15/2023(a),(b),(c),(d)		1,000		—
5.25%, 12/01/2022(g)		30		30	0.00%, 09/01/2025(a),(b),(c),(d)		700		—
Pioneer Holdings LLC / Pioneer Finance Corp					0.00%, 05/01/2028(a),(b),(c),(d)		150		—
9.00%, 11/01/2022(g)		100		101	0.00%, 03/06/2032(a),(b),(c),(d)		75		—
TransDigm Inc					0.00%, 07/15/2033(a),(b),(c),(d)		100		—
6.00%, 07/15/2022		1,378		1,388	0.00%, 07/15/2033(a),(b),(c),(d)		5,050		—
6.25%, 03/15/2026(g),(h)		5,865		5,953	0.00%, 03/15/2036(a),(b),(c),(d)		725		—
6.38%, 06/15/2026		22,023		21,197

See accompanying notes.

80

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s) Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Automobile Manufacturers (continued)					Banks (continued)
Jaguar Land Rover Automotive PLC					RBS Capital Trust II
3.50%, 03/15/2020(g)	$	200	$	196	6.43%, 12/29/2049(k),(l)	$	150	$	179
4.50%, 10/01/2027(g)		960		710	3 Month USD LIBOR + 1.94%
Navistar International Corp					Royal Bank of Scotland Group PLC
6.63%, 11/01/2025(g)		1,600		1,600	7.65%, 08/29/2049(k),(l)		700		853
Tesla Inc					3 Month USD LIBOR + 2.50%
5.30%, 08/15/2025(g)		1,930		1,713	Standard Chartered PLC
Wabash National Corp					7.01%, 07/29/2049(g),(k),(l)		600		619
5.50%, 10/01/2025(g)		392		357	3 Month USD LIBOR + 1.46%
		$		25,142	Synovus Financial Corp
Automobile Parts & Equipment - 0.42%					5.75%, 12/15/2025(l)		500		506
Adient Global Holdings Ltd					3 Month USD LIBOR + 4.18%
4.88%, 08/15/2026(g)		1,500		1,125	UniCredit SpA
American Axle & Manufacturing Inc					5.86%, 06/19/2032(g),(l)		1,250		1,116
6.25%, 04/01/2025		1,083		1,053	USD Swap Rate NY 5 Year + 3.70%
6.25%, 03/15/2026		649		623			$		36,787
6.50%, 04/01/2027		802		768	Beverages - 0.07%
6.63%, 10/15/2022		134		136	Ajecorp BV
Cooper-Standard Automotive Inc					6.50%, 05/14/2022(g)		200		146
5.63%, 11/15/2026(g)		626		565	Cott Holdings Inc
Dana Financing Luxembourg Sarl					5.50%, 04/01/2025(g)		2,505		2,480
5.75%, 04/15/2025(g)		910		889			$		2,626
6.50%, 06/01/2026(g)		537		540	Biotechnology - 0.04%
Dana Inc					Advanz Pharma Corp
6.00%, 09/15/2023		6		6	8.00%, 09/06/2024		91		86
Delphi Technologies PLC					Sotera Health Topco Inc
5.00%, 10/01/2025(g)		1,150		986	8.13%, PIK 8.88%, 11/01/2021(g),(i),(j)		1,310		1,307
Goodyear Tire & Rubber Co/The							$		1,393
4.88%, 03/15/2027		755		677	Building Materials - 0.53%
5.00%, 05/31/2026		700		643	American Woodmark Corp
5.13%, 11/15/2023		2,500		2,494	4.88%, 03/15/2026(g)		1,000		927
IHO Verwaltungs GmbH					BMC East LLC
4.13%, PIK 4.88%, 09/15/2021(g),(i),(j)		200		195	5.50%, 10/01/2024(g)		240		229
4.50%, PIK 5.25%, 09/15/2023(g),(i),(j)		3,580		3,410	Boise Cascade Co
4.75%, PIK 5.50%, 09/15/2026(g),(i),(j)		950		860	5.63%, 09/01/2024(g)		165		160
Tenneco Inc					Builders FirstSource Inc
5.00%, 07/15/2026		434		369	5.63%, 09/01/2024(g)		1,775		1,693
		$		15,339	CPG Merger Sub LLC
Banks - 1.01%					8.00%, 10/01/2021(g)		910		887
Barclays PLC					Griffon Corp
4.38%, 09/11/2024		2,700		2,645	5.25%, 03/01/2022		720		706
4.84%, 05/09/2028		2,550		2,449	James Hardie International Finance DAC
5.20%, 05/12/2026		2,300		2,302	5.00%, 01/15/2028(g)		700		630
CIT Group Inc					JELD-WEN Inc
4.13%, 03/09/2021		6,890		6,907	4.63%, 12/15/2025(g)		1,280		1,162
4.75%, 02/16/2024		3,265		3,302	4.88%, 12/15/2027(g)		371		328
5.00%, 08/15/2022		5,494		5,632	Louisiana-Pacific Corp
5.00%, 08/01/2023		905		925	4.88%, 09/15/2024		6		6
5.25%, 03/07/2025		1,475		1,519	Masonite International Corp
Citigroup Capital III					5.63%, 03/15/2023(g)		951		961
7.63%, 12/01/2036		500		628	5.75%, 09/15/2026(g)		220		214
Citizens Financial Group Inc					NCI Building Systems Inc
5.50%, 12/31/2049(k),(l)		250		251	8.00%, 04/15/2026(g)		1,175		1,112
3 Month USD LIBOR + 3.96%					Northwest Hardwoods Inc
Deutsche Bank AG					7.50%, 08/01/2021(g)		223		163
4.30%, 05/24/2028(l)		750		666	Omnimax International Inc
USD Swap Semi-Annual 5 Year + 2.25%					12.00%, 08/15/2020(g)		100		101
4.50%, 04/01/2025		1,275		1,175	St Marys Cement Inc Canada
Deutsche Bank AG/New York NY					5.75%, 01/28/2027(g)		675		694
4.88%, 12/01/2032(l)		645		544	Standard Industries Inc/NJ
USD Swap Rate NY 5 Year + 2.55%					4.75%, 01/15/2028(g)		500		453
Dresdner Funding Trust I					5.00%, 02/15/2027(g)		1,150		1,075
8.15%, 06/30/2031(g)		850		1,028	5.38%, 11/15/2024(g)		1,275		1,265
Freedom Mortgage Corp					5.50%, 02/15/2023(g)		1,400		1,425
8.25%, 04/15/2025(g)		900		823	6.00%, 10/15/2025(g)		765		769
Intesa Sanpaolo SpA
5.02%, 06/26/2024(g)		1,750		1,606
5.71%, 01/15/2026(g)		1,200		1,112

See accompanying notes.

81

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)     Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Building Materials (continued)					Chemicals (continued)
Summit Materials LLC / Summit Materials					Perstorp Holding AB
Finance Corp					8.50%, 06/30/2021(g)	$	225	$	233
5.13%, 06/01/2025(g)	$	508	$	477	11.00%, 09/30/2021(g)		200		214
6.13%, 07/15/2023		755		760	Platform Specialty Products Corp
US Concrete Inc					6.50%, 02/01/2022(g)		1,000		1,014
6.38%, 06/01/2024		698		678	PolyOne Corp
USG Corp					5.25%, 03/15/2023		855		859
4.88%, 06/01/2027(g)		1,100		1,118	PQ Corp
5.50%, 03/01/2025(g)		1,415		1,440	6.75%, 11/15/2022(g)		2,575		2,692
		$		19,433	Rain CII Carbon LLC / CII Carbon Corp
Chemicals - 2.02%					7.25%, 04/01/2025(g)		1,432		1,268
Ashland LLC					Rayonier AM Products Inc
4.75%, 08/15/2022		405		408	5.50%, 06/01/2024(g)		840		759
6.88%, 05/15/2043		500		500	SPCM SA
Axalta Coating Systems LLC					4.88%, 09/15/2025(g)		850		799
4.88%, 08/15/2024(g)		1,380		1,347	Starfruit Finco BV / Starfruit US Holdco LLC
Blue Cube Spinco LLC					8.00%, 10/01/2026(g)		1,325		1,322
9.75%, 10/15/2023		875		976	TPC Group Inc
10.00%, 10/15/2025		1,038		1,186	8.75%, 12/15/2020(g)		550		545
CF Industries Inc					Trinseo Materials Operating SCA / Trinseo
3.45%, 06/01/2023		1,200		1,158	Materials Finance Inc
4.95%, 06/01/2043		1,000		829	5.38%, 09/01/2025(g)		1,018		922
5.15%, 03/15/2034		687		632	Tronox Finance PLC
5.38%, 03/15/2044		1,696		1,474	5.75%, 10/01/2025(g)		380		329
7.13%, 05/01/2020		182		188	Tronox Inc
Chemours Co/The					6.50%, 04/15/2026(g)		1,075		941
5.38%, 05/15/2027		592		568	Valvoline Inc
6.63%, 05/15/2023		1,052		1,088	4.38%, 08/15/2025		323		308
7.00%, 05/15/2025		870		908	5.50%, 07/15/2024		450		457
Consolidated Energy Finance SA					Venator Finance Sarl / Venator Materials LLC
6.88%, 06/15/2025(g)		300		295	5.75%, 07/15/2025(g)		15		12
Cornerstone Chemical Co					Versum Materials Inc
6.75%, 08/15/2024(g)		14,087		13,277	5.50%, 09/30/2024(g)		360		365
CVR Partners LP / CVR Nitrogen Finance Corp					WR Grace & Co-Conn
9.25%, 06/15/2023(g)		300		313	5.13%, 10/01/2021(g)		4,200		4,315
Element Solutions Inc					5.63%, 10/01/2024(g)		60		62
5.88%, 12/01/2025(g)		3,365		3,357			$		74,037
GCP Applied Technologies Inc					Coal - 0.80%
5.50%, 04/15/2026(g)		600		596	Cloud Peak Energy Resources LLC / Cloud Peak
HB Fuller Co					Energy Finance Corp
4.00%, 02/15/2027		350		301	12.00%, 11/01/2021		304		122
Hexion Inc					CONSOL Energy Inc
6.63%, 04/15/2020		1,606		1,280	11.00%, 11/15/2025(g)		295		324
10.38%, 02/01/2022(g)		180		144	Foresight Energy LLC / Foresight Energy Finance
10.00%, 04/15/2020		106		87	Corp
Huntsman International LLC					11.50%, 04/01/2023(g)		28,790		24,688
4.88%, 11/15/2020		3,860		3,927	Peabody Energy Corp
5.13%, 11/15/2022		4,991		5,166	6.00%, 03/31/2022(g)		461		460
INEOS Group Holdings SA					6.38%, 03/31/2025(g)		1,100		1,061
5.63%, 08/01/2024(g)		2,505		2,404	SunCoke Energy Partners LP / SunCoke Energy
Kraton Polymers LLC / Kraton Polymers Capital					Partners Finance Corp
Corp					7.50%, 06/15/2025(g)		1,850		1,795
7.00%, 04/15/2025(g)		900		878	Warrior Met Coal Inc
Momentive Performance Materials Inc					8.00%, 11/01/2024(g)		1,000		1,009
3.88%, 10/24/2021		1,095		1,174			$		29,459
NOVA Chemicals Corp					Commercial Services - 3.05%
4.88%, 06/01/2024(g)		2,660		2,527	ACE Cash Express Inc
5.00%, 05/01/2025(g)		1,975		1,817	12.00%, 12/15/2022(g)		3		3
5.25%, 08/01/2023(g)		2,165		2,105	ADT Security Corp/The
5.25%, 06/01/2027(g)		1,520		1,387	3.50%, 07/15/2022		270		260
Nufarm Australia Ltd / Nufarm Americas Inc					4.13%, 06/15/2023		1,275		1,227
5.75%, 04/30/2026(g)		600		555	4.88%, 07/15/2032(g)		2,700		2,187
OCI NV					6.25%, 10/15/2021		2,000		2,102
6.63%, 04/15/2023(g)		1,075		1,105	Ahern Rentals Inc
Olin Corp					7.38%, 05/15/2023(g)		155		135
5.00%, 02/01/2030		1,850		1,707	AMN Healthcare Inc
5.13%, 09/15/2027		982		957	5.13%, 10/01/2024(g)		423		420

See accompanying notes.

82

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
		Principal					Principal
BONDS (continued)	Amount (000’s)    Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Commercial Services (continued)					Commercial Services (continued)
Aptim Corp					RR Donnelley & Sons Co
7.75%, 06/15/2025(g)	$	300	$	236	6.00%, 04/01/2024	$	55	$	53
APX Group Inc					6.50%, 11/15/2023		61		59
7.63%, 09/01/2023		200		165	7.88%, 03/15/2021		605		609
7.88%, 12/01/2022		2,150		2,080	Service Corp International/US
8.75%, 12/01/2020		825		804	4.63%, 12/15/2027		450		439
Atento Luxco 1 SA					5.38%, 01/15/2022		1,125		1,134
6.13%, 08/10/2022(g)		100		98	5.38%, 05/15/2024		7,270		7,425
Avis Budget Car Rental LLC / Avis Budget					8.00%, 11/15/2021		370		402
Finance Inc					ServiceMaster Co LLC/The
5.25%, 03/15/2025(g)		2,510		2,253	5.13%, 11/15/2024(g)		2,785		2,722
5.50%, 04/01/2023		870		865	Team Health Holdings Inc
6.38%, 04/01/2024(g)		118		117	6.38%, 02/01/2025(g)		17,964		14,641
Brink's Co/The					United Rentals North America Inc
4.63%, 10/15/2027(g)		1,100		1,045	4.63%, 07/15/2023		740		749
Cimpress NV					4.63%, 10/15/2025		584		560
7.00%, 06/15/2026(g)		1,300		1,268	4.88%, 01/15/2028		2,015		1,912
Emeco Pty Ltd					5.50%, 07/15/2025		1,777		1,799
9.25%, 03/31/2022		400		417	5.50%, 05/15/2027		905		892
Flexi-Van Leasing Inc					5.75%, 11/15/2024		3,540		3,628
10.00%, 02/15/2023(g)		400		333	5.88%, 09/15/2026		2,060		2,091
Garda World Security Corp					6.50%, 12/15/2026		75		78
8.75%, 05/15/2025(g)		1,600		1,484	Verscend Escrow Corp
Gartner Inc					9.75%, 08/15/2026(g)		1,950		1,963
5.13%, 04/01/2025(g)		1,630		1,622	Weight Watchers International Inc
Graham Holdings Co					8.63%, 12/01/2025(g)		17		17
5.75%, 06/01/2026(g)		29		30	WEX Inc
Herc Rentals Inc					4.75%, 02/01/2023(g)		575		568
7.50%, 06/01/2022(g)		469		491			$		111,495
7.75%, 06/01/2024(g)		541		576	Computers - 1.28%
Hertz Corp/The					Banff Merger Sub Inc
5.50%, 10/15/2024(g)		8,545		7,007	9.75%, 09/01/2026(g)		2,700		2,572
5.88%, 10/15/2020		3,166		3,134	Booz Allen Hamilton Inc
6.25%, 10/15/2022		300		272	5.13%, 05/01/2025(g)		174		171
7.38%, 01/15/2021		200		198	Dell Inc
7.63%, 06/01/2022(g)		2,510		2,498	4.63%, 04/01/2021		500		503
Jaguar Holding Co II / Pharmaceutical Product					5.40%, 09/10/2040		150		126
Development LLC					6.50%, 04/15/2038		674		634
6.38%, 08/01/2023(g)		1,613		1,605	Dell International LLC / EMC Corp
Jurassic Holdings III Inc					5.88%, 06/15/2021(g)		2,155		2,190
6.88%, 02/15/2021(g)		635		578	7.13%, 06/15/2024(g)		2,365		2,495
Laureate Education Inc					EMC Corp
8.25%, 05/01/2025(g)		2,628		2,851	2.65%, 06/01/2020		1,642		1,617
Matthews International Corp					3.38%, 06/01/2023		415		394
5.25%, 12/01/2025(g)		255		240	Everi Payments Inc
Midas Intermediate Holdco II LLC / Midas					7.50%, 12/15/2025(g)		7		7
Intermediate Holdco II Finance Inc					Exela Intermediate LLC / Exela Finance Inc
7.88%, 10/01/2022(g)		3,550		3,284	10.00%, 07/15/2023(g)		735		735
Monitronics International Inc					GCI LLC
9.13%, 04/01/2020		125		35	6.88%, 04/15/2025		800		794
Nielsen Co Luxembourg SARL/The					Harland Clarke Holdings Corp
5.00%, 02/01/2025(g)		5,189		5,150	6.88%, 03/01/2020(g)		320		317
5.50%, 10/01/2021(g)		4,255		4,288	8.38%, 08/15/2022(g)		1,934		1,813
Nielsen Finance LLC / Nielsen Finance Co					9.25%, 03/01/2021(g)		1,925		1,862
4.50%, 10/01/2020		3,275		3,267	Leidos Holdings Inc
5.00%, 04/15/2022(g)		4,326		4,319	4.45%, 12/01/2020		1,000		1,017
Prime Security Services Borrower LLC / Prime					5.95%, 12/01/2040		345		321
Finance Inc					Leidos Inc
9.25%, 05/15/2023(g)		3,742		3,958	5.50%, 07/01/2033		100		85
Refinitiv US Holdings Inc					NCR Corp
8.25%, 11/15/2026(g)		1,950		1,828	4.63%, 02/15/2021		100		99
Rent-A-Center Inc/TX					5.00%, 07/15/2022		3,100		3,047
4.75%, 05/01/2021		129		124	5.88%, 12/15/2021		285		286
6.63%, 11/15/2020		319		317	6.38%, 12/15/2023		1,700		1,704
Ritchie Bros Auctioneers Inc					West Corp
5.38%, 01/15/2025(g)		4,560		4,583	8.50%, 10/15/2025(g)		21,640		18,042

See accompanying notes.

83

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s)  Value (000’s)
Computers (continued)					Diversified Financial Services (continued)
Western Digital Corp					Ally Financial Inc
4.75%, 02/15/2026	$	6,625	$	6,161	4.13%, 03/30/2020	$	1,050	$	1,051
		$		46,992	4.13%, 02/13/2022		1,700		1,706
Consumer Products - 0.36%					4.25%, 04/15/2021		6,445		6,477
ACCO Brands Corp					4.63%, 05/19/2022		592		604
5.25%, 12/15/2024(g)		316		309	4.63%, 03/30/2025		1,527		1,555
Central Garden & Pet Co					5.13%, 09/30/2024		745		772
5.13%, 02/01/2028		642		599	5.75%, 11/20/2025		1,600		1,676
6.13%, 11/15/2023		2,325		2,377	7.50%, 09/15/2020		6,020		6,344
Kronos Acquisition Holdings Inc					8.00%, 03/15/2020		9,876		10,333
9.00%, 08/15/2023(g)		651		552	8.00%, 11/01/2031		285		342
Prestige Brands Inc					8.00%, 11/01/2031		1,775		2,130
5.38%, 12/15/2021(g)		525		525	ASP AMC Merger Sub Inc
6.38%, 03/01/2024(g)		3,395		3,378	8.00%, 05/15/2025(g)		225		112
Spectrum Brands Inc					Credit Acceptance Corp
5.75%, 07/15/2025		4,715		4,645	7.38%, 03/15/2023		310		318
6.13%, 12/15/2024		815		811	Curo Group Holdings Corp
		$		13,196	8.25%, 09/01/2025(g)		330		280
Cosmetics & Personal Care - 0.35%					E*TRADE Financial Corp
Avon International Operations Inc					5.88%, 12/31/2049(k),(l)		1,500		1,462
7.88%, 08/15/2022(g)		1,038		1,048	3 Month USD LIBOR + 4.44%
Avon Products Inc					goeasy Ltd
6.60%, 03/15/2020		377		377	7.88%, 11/01/2022(g)		125		131
7.00%, 03/15/2023		6		5	Intrepid Aviation Group Holdings LLC / Intrepid
8.95%, 03/15/2043		200		162	Finance Co
Coty Inc					8.50%, 08/15/2021(g)		300		303
6.50%, 04/15/2026(g)		1,033		930	Jefferies Finance LLC / JFIN Co-Issuer Corp
Edgewell Personal Care Co					6.88%, 04/15/2022(g)		875		864
4.70%, 05/19/2021		1,590		1,602	7.50%, 04/15/2021(g)		200		202
4.70%, 05/24/2022		3,020		3,020	Ladder Capital Finance Holdings LLLP / Ladder
First Quality Finance Co Inc					Capital Finance Corp
4.63%, 05/15/2021(g)		695		692	5.25%, 03/15/2022(g)		503		506
5.00%, 07/01/2025(g)		1,265		1,221	5.25%, 10/01/2025(g)		994		922
High Ridge Brands Co					5.88%, 08/01/2021(g)		365		369
8.88%, 03/15/2025(g)		4,938		2,123	Lions Gate Capital Holdings LLC
Revlon Consumer Products Corp					5.88%, 11/01/2024(g)		2,400		2,358
5.75%, 02/15/2021		1,813		1,450	LPL Holdings Inc
		$		12,630	5.75%, 09/15/2025(g)		7,074		6,956
Distribution & Wholesale - 0.40%					Nationstar Mortgage Holdings Inc
American Builders & Contractors Supply Co Inc					8.13%, 07/15/2023(g)		1,650		1,670
5.75%, 12/15/2023(g)		2,740		2,815	9.13%, 07/15/2026(g)		875		886
5.88%, 05/15/2026(g)		450		451	Nationstar Mortgage LLC / Nationstar Capital
Core & Main LP					Corp
6.13%, 08/15/2025(g)		1,000		953	6.50%, 07/01/2021		660		658
Global Partners LP / GLP Finance Corp					Navient Corp
6.25%, 07/15/2022		530		514	4.88%, 06/17/2019		6,269		6,277
7.00%, 06/15/2023		90		88	5.00%, 10/26/2020		1,392		1,397
H&E Equipment Services Inc					5.63%, 08/01/2033		122		93
5.63%, 09/01/2025		661		646	5.88%, 03/25/2021		3,440		3,508
HD Supply Inc					5.88%, 10/25/2024		1,975		1,856
5.38%, 10/15/2026(g)		3,120		3,136	6.13%, 03/25/2024		2,235		2,139
KAR Auction Services Inc					6.50%, 06/15/2022		1,900		1,941
5.13%, 06/01/2025(g)		902		869	6.63%, 07/26/2021		2,720		2,794
LKQ Corp					6.75%, 06/25/2025		1,250		1,202
4.75%, 05/15/2023		2,083		2,093	6.75%, 06/15/2026		2,335		2,201
Performance Food Group Inc					7.25%, 01/25/2022		100		104
5.50%, 06/01/2024(g)		2,800		2,758	7.25%, 09/25/2023		600		610
Univar USA Inc					8.00%, 03/25/2020		5,595		5,826
6.75%, 07/15/2023(g)		443		455	NFP Corp
		$		14,778	6.88%, 07/15/2025(g)		12,531		11,905
					Ocwen Loan Servicing LLC
Diversified Financial Services - 3.54%					8.38%, 11/15/2022(g)		250		228
Aircastle Ltd					Oxford Finance LLC / Oxford Finance Co-Issuer
5.13%, 03/15/2021		1,725		1,768	II Inc
6.25%, 12/01/2019		1,070		1,093	6.38%, 12/15/2022(g)		50		51
Alliance Data Systems Corp					Quicken Loans Inc
5.88%, 11/01/2021(g)		170		171	5.25%, 01/15/2028(g)		1,250		1,128
					5.75%, 05/01/2025(g)		1,424		1,374

See accompanying notes.

84

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)      Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Diversified Financial Services (continued)					Electrical Components & Equipment - 0.16%
SLM Corp					Energizer Holdings Inc
5.13%, 04/05/2022	$	1,200	$	1,164	5.50%, 06/15/2025(g)	$	1,155	$	1,100
Springleaf Finance Corp					6.38%, 07/15/2026(g)		475		462
5.63%, 03/15/2023		950		936	7.75%, 01/15/2027(g)		2,615		2,694
6.00%, 06/01/2020		120		122	EnerSys
6.13%, 05/15/2022		5,700		5,859	5.00%, 04/30/2023(g)		838		832
6.88%, 03/15/2025		5,405		5,169	WESCO Distribution Inc
7.13%, 03/15/2026		5,214		4,966	5.38%, 12/15/2021		580		584
7.75%, 10/01/2021		6,288		6,618	5.38%, 06/15/2024		11		11
8.25%, 12/15/2020		1,982		2,116			$		5,683
Stearns Holdings LLC					Electronics - 0.20%
9.38%, 08/15/2020(g)		250		233	Ingram Micro Inc
Tempo Acquisition LLC / Tempo Acquisition					5.00%, 08/10/2022		800		784
Finance Corp					5.45%, 12/15/2024		250		244
6.75%, 06/01/2025(g)		1,336		1,319	Resideo Funding Inc
Travelport Corporate Finance PLC					6.13%, 11/01/2026(g)		1,490		1,535
6.00%, 03/15/2026(g)		785		812	Sensata Technologies BV
Vantiv LLC / Vantiv Issuer Corp					4.88%, 10/15/2023(g)		175		175
4.38%, 11/15/2025(g)		675		648	5.00%, 10/01/2025(g)		1,546		1,554
VFH Parent LLC / Orchestra Co-Issuer Inc					5.63%, 11/01/2024(g)		2,750		2,853
6.75%, 06/15/2022(g)		575		584			$		7,145
Werner FinCo LP / Werner FinCo Inc					Energy - Alternate Sources - 0.08%
8.75%, 07/15/2025(g)		375		330	Enviva Partners LP / Enviva Partners Finance
		$		129,529	Corp
Electric - 2.00%					8.50%, 11/01/2021		500		521
AES Corp/VA					Pattern Energy Group Inc
4.00%, 03/15/2021		600		598	5.88%, 02/01/2024(g)		329		322
4.50%, 03/15/2023		100		100	TerraForm Power Operating LLC
4.88%, 05/15/2023		100		101	4.25%, 01/31/2023(g)		500		489
5.13%, 09/01/2027		600		612	5.00%, 01/31/2028(g)		1,325		1,230
5.50%, 04/15/2025		693		714	6.63%, 06/15/2025(g),(i)		210		220
6.00%, 05/15/2026		1,125		1,185			$		2,782
Calpine Corp					Engineering & Construction - 0.19%
5.25%, 06/01/2026(g)		1,150		1,092	AECOM
5.38%, 01/15/2023		3,485		3,389	5.13%, 03/15/2027		2,500		2,356
5.50%, 02/01/2024		1,300		1,230	5.88%, 10/15/2024		16		17
5.75%, 01/15/2025		2,615		2,464	AECOM Global II LLC / URS Fox US LP
5.88%, 01/15/2024(g)		373		373	5.00%, 04/01/2022		337		337
6.00%, 01/15/2022(g)		5,645		5,688	Brand Industrial Services Inc
Clearway Energy Operating LLC					8.50%, 07/15/2025(g)		1,460		1,305
5.00%, 09/15/2026		405		352	frontdoor Inc
5.38%, 08/15/2024		475		441	6.75%, 08/15/2026(g)		205		203
InterGen NV					Great Lakes Dredge & Dock Corp
7.00%, 06/30/2023(g)		750		656	8.00%, 05/15/2022		1,200		1,236
NextEra Energy Operating Partners LP					MasTec Inc
4.25%, 09/15/2024(g)		600		572	4.88%, 03/15/2023		137		137
4.50%, 09/15/2027(g)		650		591	New Enterprise Stone & Lime Co Inc
NRG Energy Inc					6.25%, 03/15/2026(g)		274		262
5.75%, 01/15/2028		1,300		1,317	TopBuild Corp
6.25%, 05/01/2024		850		880	5.63%, 05/01/2026(g)		258		241
6.63%, 01/15/2027		7,708		8,115	Tutor Perini Corp
7.25%, 05/15/2026		7,880		8,517	6.88%, 05/01/2025(g)		671		664
Talen Energy Supply LLC					Weekley Homes LLC / Weekley Finance Corp
6.50%, 06/01/2025		272		212	6.63%, 08/15/2025		27		25
9.50%, 07/15/2022(g)		5,810		5,926			$		6,783
10.50%, 01/15/2026(g)		4,475		4,139	Entertainment - 1.48%
Vistra Energy Corp					AMC Entertainment Holdings Inc
5.88%, 06/01/2023		4,357		4,455	5.75%, 06/15/2025		6,978		6,437
7.38%, 11/01/2022		2,215		2,304	5.88%, 02/15/2022		275		275
7.63%, 11/01/2024		8,499		9,030	5.88%, 11/15/2026		920		828
Vistra Operations Co LLC					6.13%, 05/15/2027		2,870		2,554
5.50%, 09/01/2026(g)		2,750		2,785	Boyne USA Inc
5.63%, 02/15/2027(g),(h)		5,465		5,493	7.25%, 05/01/2025(g)		175		184
		$		73,331	Caesars Resort Collection LLC / CRC Finco Inc
					5.25%, 10/15/2025(g)		1,100		1,030
					CCM Merger Inc
					6.00%, 03/15/2022(g)		122		123

See accompanying notes.

85

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s) Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Entertainment (continued)					Environmental Control (continued)
Cedar Fair LP / Canada's Wonderland Co /					GFL Environmental Inc
Magnum Management Corp					5.38%, 03/01/2023(g)	$	800	$	748
5.38%, 06/01/2024	$	100	$	101	5.63%, 05/01/2022(g)		260		250
Cedar Fair LP / Canada's Wonderland Co /					Hulk Finance Corp
Magnum Management Corp / Millennium Op					7.00%, 06/01/2026(g)		1,445		1,337
5.38%, 04/15/2027		3,500		3,478	Tervita Escrow Corp
Churchill Downs Inc					7.63%, 12/01/2021(g)		275		270
4.75%, 01/15/2028(g)		1,655		1,587	Waste Pro USA Inc
Cinemark USA Inc					5.50%, 02/15/2026(g)		300		291
4.88%, 06/01/2023		650		644			$		6,306
Cirsa Finance International Sarl					Food - 1.01%
7.88%, 12/20/2023(g)		425		431	Albertsons Cos LLC / Safeway Inc / New
Eldorado Resorts Inc					Albertsons LP / Albertson's LLC
6.00%, 04/01/2025		1,130		1,137	5.75%, 03/15/2025		1,800		1,685
6.00%, 09/15/2026(g)		5,120		5,107	6.63%, 06/15/2024		979		967
7.00%, 08/01/2023		165		172	B&G Foods Inc
EMI Music Publishing Group North America					5.25%, 04/01/2025		1,893		1,856
Holdings Inc					Chobani LLC / Chobani Finance Corp Inc
7.63%, 06/15/2024(g)		745		790	7.50%, 04/15/2025(g)		975		834
Enterprise Development Authority/The					Darling Ingredients Inc
12.00%, 07/15/2024(g)		80		75	5.38%, 01/15/2022		575		578
Gateway Casinos & Entertainment Ltd					Dean Foods Co
8.25%, 03/01/2024(g)		210		217	6.50%, 03/15/2023(g)		320		249
International Game Technology PLC					Dole Food Co Inc
6.25%, 02/15/2022(g)		1,815		1,879	7.25%, 06/15/2025(g)		788		717
6.25%, 01/15/2027(g)		675		684	Ingles Markets Inc
6.50%, 02/15/2025(g)		1,530		1,592	5.75%, 06/15/2023		100		101
Live Nation Entertainment Inc					JBS Investments GmbH
4.88%, 11/01/2024(g)		5,175		5,097	7.25%, 04/03/2024		1,000		1,034
5.38%, 06/15/2022(g)		7		7	JBS USA LUX SA / JBS USA Finance Inc
5.63%, 03/15/2026(g)		205		207	5.75%, 06/15/2025(g)		1,441		1,437
Merlin Entertainments PLC					5.88%, 07/15/2024(g)		1,181		1,193
5.75%, 06/15/2026(g)		1,210		1,234	6.75%, 02/15/2028(g)		1,455		1,488
Mohegan Gaming & Entertainment					Lamb Weston Holdings Inc
7.88%, 10/15/2024(g)		1,025		989	4.63%, 11/01/2024(g)		1,550		1,542
National CineMedia LLC					4.88%, 11/01/2026(g)		1,780		1,765
6.00%, 04/15/2022		516		520	New Albertsons LP
Penn National Gaming Inc					7.45%, 08/01/2029		1,000		877
5.63%, 01/15/2027(g)		700		658	8.00%, 05/01/2031		300		269
Rivers Pittsburgh Borrower LP/Rivers Pittsburgh					8.70%, 05/01/2030		265		246
Finance Corp					Pilgrim's Pride Corp
6.13%, 08/15/2021(g)		360		359	5.75%, 03/15/2025(g)		3,095		3,033
Scientific Games International Inc					5.88%, 09/30/2027(g)		950		917
5.00%, 10/15/2025(g)		1,005		953	Post Holdings Inc
6.25%, 09/01/2020		43		42	5.00%, 08/15/2026(g)		2,148		2,030
10.00%, 12/01/2022		2,320		2,439	5.50%, 03/01/2025(g)		4,528		4,482
Six Flags Entertainment Corp					5.63%, 01/15/2028(g)		2,160		2,071
4.88%, 07/31/2024(g)		5,179		5,127	5.75%, 03/01/2027(g)		2,969		2,909
5.50%, 04/15/2027(g)		1,250		1,241	Safeway Inc
Stars Group Holdings BV / Stars Group US Co-					7.25%, 02/01/2031		1,115		998
Borrower LLC					Sigma Holdco BV
7.00%, 07/15/2026(g)		1,450		1,472	7.88%, 05/15/2026(g)		975		866
WMG Acquisition Corp					Simmons Foods Inc
4.88%, 11/01/2024(g)		150		147	5.75%, 11/01/2024(g)		640		523
5.00%, 08/01/2023(g)		3,971		3,941	Tesco PLC
5.50%, 04/15/2026(g)		21		21	6.15%, 11/15/2037(g)		250		259
5.63%, 04/15/2022(g)		523		528	TreeHouse Foods Inc
		$		54,307	4.88%, 03/15/2022		565		561
Environmental Control - 0.17%					6.00%, 02/15/2024(g)		775		796
Advanced Disposal Services Inc					US Foods Inc
5.63%, 11/15/2024(g)		900		902	5.88%, 06/15/2024(g)		695		707
Clean Harbors Inc							$		36,990
5.13%, 06/01/2021		138		137	Food Service - 0.24%
Covanta Holding Corp					Aramark Services Inc
5.88%, 03/01/2024		145		145	4.75%, 06/01/2026		300		295
6.00%, 01/01/2027		2,325		2,226	5.00%, 04/01/2025(g)		550		553
					5.00%, 02/01/2028(g)		2,025		1,977

See accompanying notes.

86

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s) Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Food Service (continued)					Healthcare - Products (continued)
Aramark Services Inc   (continued)					Ortho-Clinical Diagnostics Inc / Ortho-Clinical
5.13%, 01/15/2024	$	5,970	$	6,032	Diagnostics SA
		$		8,857	6.63%, 05/15/2022(g)	$	2,100	$	2,026
Forest Products & Paper - 0.05%					Sotera Health Holdings LLC
Cascades Inc					6.50%, 05/15/2023(g)		1,605		1,617
5.50%, 07/15/2022(g)		100		99	Teleflex Inc
5.75%, 07/15/2023(g)		230		224	4.63%, 11/15/2027		1,015		990
Mercer International Inc					4.88%, 06/01/2026		955		959
6.50%, 02/01/2024		1,275		1,288	5.25%, 06/15/2024		462		465
NewPage Corp							$		46,756
0.00%, 12/31/2014(a),(b),(c)		3,413		—	Healthcare - Services - 6.81%
Resolute Forest Products Inc					Acadia Healthcare Co Inc
5.88%, 05/15/2023		100		99	5.13%, 07/01/2022		456		449
Smurfit Kappa Treasury Funding DAC					5.63%, 02/15/2023		1,552		1,525
7.50%, 11/20/2025		150		171	6.13%, 03/15/2021		173		173
		$		1,881	6.50%, 03/01/2024		429		423
Gas - 0.26%					AHP Health Partners Inc
AmeriGas Partners LP / AmeriGas Finance Corp					9.75%, 07/15/2026(g)		1,000		1,037
5.50%, 05/20/2025		2,040		1,999	Air Medical Group Holdings Inc
5.63%, 05/20/2024		1,061		1,048	6.38%, 05/15/2023(g)		274		237
5.75%, 05/20/2027		856		818	Catalent Pharma Solutions Inc
5.88%, 08/20/2026		892		879	4.88%, 01/15/2026(g)		3,019		2,928
LBC Tank Terminals Holding Netherlands BV					Centene Corp
6.88%, 05/15/2023(g)		2,125		1,982	4.75%, 05/15/2022		5,705		5,807
NGL Energy Partners LP / NGL Energy Finance					4.75%, 01/15/2025		710		720
Corp					5.38%, 06/01/2026(g)		3,715		3,835
6.13%, 03/01/2025		1,466		1,325	5.63%, 02/15/2021		1,490		1,512
7.50%, 11/01/2023		1,125		1,139	6.13%, 02/15/2024		4,150		4,347
Southern Star Central Corp					Charles River Laboratories International Inc
5.13%, 07/15/2022(g)		158		154	5.50%, 04/01/2026(g)		300		306
		$		9,344	CHS/Community Health Systems Inc
Hand & Machine Tools - 0.53%					5.13%, 08/01/2021		800		769
Apex Tool Group LLC / BC Mountain Finance					6.25%, 03/31/2023		3,502		3,344
Inc					6.88%, 02/01/2022		2,558		1,454
9.00%, 02/15/2023(g)		18,825		16,943	8.13%, 06/30/2024(g)		800		634
CFX Escrow Corp					8.63%, 01/15/2024(g)		1,195		1,231
6.00%, 02/15/2024(c),(g),(h)		1,300		1,300	11.00%, 06/30/2023(g),(i)		2,000		1,710
6.38%, 02/15/2026(c),(g),(h)		1,055		1,055	DaVita Inc
		$		19,298	5.00%, 05/01/2025		2,675		2,575
Healthcare - Products - 1.28%					5.13%, 07/15/2024		1,920		1,897
Agiliti Health Inc					5.75%, 08/15/2022		3,199		3,251
7.63%, 08/15/2020		566		566	Eagle Holding Co II LLC
Avanos Medical Inc					7.63%, PIK 8.38%, 05/15/2022(g),(i),(j)		10,750		10,750
6.25%, 10/15/2022		1,000		1,018	Encompass Health Corp
Avantor Inc					5.13%, 03/15/2023		900		905
6.00%, 10/01/2024(g)		1,850		1,892	5.75%, 11/01/2024		116		117
9.00%, 10/01/2025(g)		21,720		22,372	5.75%, 09/15/2025		1,800		1,818
DJO Finance LLC / DJO Finance Corp					Envision Healthcare Corp
8.13%, 06/15/2021(g)		800		831	8.75%, 10/15/2026(g)		27,020		24,638
10.75%, 04/15/2020		346		347	HCA Healthcare Inc
Hill-Rom Holdings Inc					6.25%, 02/15/2021		619		645
5.75%, 09/01/2023(g)		2,800		2,877	HCA Inc
Hologic Inc					4.50%, 02/15/2027		1,705		1,718
4.38%, 10/15/2025(g)		4,380		4,302	4.75%, 05/01/2023		7,545		7,753
4.63%, 02/01/2028(g)		1,650		1,592	5.00%, 03/15/2024		5,369		5,587
Immucor Inc					5.25%, 04/15/2025		2,681		2,838
11.13%, 02/15/2022(g)		294		300	5.25%, 06/15/2026		1,835		1,926
Kinetic Concepts Inc / KCI USA Inc					5.38%, 02/01/2025		2,382		2,459
7.88%, 02/15/2021(g)		345		352	5.38%, 09/01/2026		8,515		8,715
12.50%, 11/01/2021(g)		660		714	5.50%, 06/15/2047		1,129		1,176
Mallinckrodt International Finance SA					5.63%, 09/01/2028		4,365		4,513
4.75%, 04/15/2023		193		148	5.88%, 03/15/2022		3,536		3,749
Mallinckrodt International Finance SA /					5.88%, 05/01/2023		491		519
Mallinckrodt CB LLC					5.88%, 02/15/2026		1,780		1,878
4.88%, 04/15/2020(g)		450		445	5.88%, 02/01/2029		2,815		2,949
5.50%, 04/15/2025(g)		965		748	6.50%, 02/15/2020		4,877		5,011
5.63%, 10/15/2023(g)		689		581	7.50%, 02/15/2022		3,475		3,805
5.75%, 08/01/2022(g)		1,778		1,614	7.50%, 11/15/2095		215		214

See accompanying notes.

87

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
		Principal					Principal
BONDS (continued)	Amount (000’s)         Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Healthcare - Services (continued)					Home Builders (continued)
HCA Inc   (continued)					K Hovnanian Enterprises Inc
7.69%, 06/15/2025	$	765	$	841	10.50%, 07/15/2024(g)	$	1,250	$	988
Magellan Health Inc					10.00%, 07/15/2022(g)		1,500		1,268
4.40%, 09/22/2024		1,800		1,697	KB Home
MEDNAX Inc					7.00%, 12/15/2021		340		357
5.25%, 12/01/2023(g)		2,616		2,623	7.50%, 09/15/2022		200		212
6.25%, 01/15/2027(g)		3,515		3,541	7.63%, 05/15/2023		30		32
Molina Healthcare Inc					8.00%, 03/15/2020		355		370
4.88%, 06/15/2025(g)		423		415	Lennar Corp
5.38%, 11/15/2022		3,200		3,264	2.95%, 11/29/2020		200		196
MPH Acquisition Holdings LLC					4.13%, 01/15/2022		900		896
7.13%, 06/01/2024(g)		1,009		1,002	4.50%, 04/30/2024		1,450		1,425
One Call Corp					4.75%, 04/01/2021		1,000		1,011
7.50%, 07/01/2024(g)		10,646		10,007	4.75%, 11/15/2022		6,550		6,575
10.00%, 10/01/2024(g)		9,300		7,207	4.75%, 05/30/2025		1,100		1,075
Polaris Intermediate Corp					4.75%, 11/29/2027		500		474
8.50%, PIK 9.25%, 12/01/2022(g),(i),(j)		26,364		25,507	4.88%, 12/15/2023		3,450		3,450
Quorum Health Corp					5.00%, 06/15/2027		457		433
11.63%, 04/15/2023		500		460	5.25%, 06/01/2026		2,257		2,200
RegionalCare Hospital Partners Holdings Inc					5.38%, 10/01/2022		598		609
8.25%, 05/01/2023(g)		1,050		1,108	5.88%, 11/15/2024		882		903
Surgery Center Holdings Inc					6.25%, 12/15/2021		187		195
6.75%, 07/01/2025(g)		7,919		7,325	6.63%, 05/01/2020		84		87
8.88%, 04/15/2021(g)		400		408	8.38%, 01/15/2021		320		344
Syneos Health Inc / inVentiv Health Inc / inVentiv					M/I Homes Inc
Health Clinical Inc					5.63%, 08/01/2025		301		277
7.50%, 10/01/2024(g)		119		125	Mattamy Group Corp
Tenet Healthcare Corp					6.50%, 10/01/2025(g)		600		557
4.38%, 10/01/2021		637		636	6.88%, 12/15/2023(g)		197		192
4.50%, 04/01/2021		1,130		1,133	MDC Holdings Inc
4.63%, 07/15/2024		4,439		4,348	5.50%, 01/15/2024		25		25
4.75%, 06/01/2020		750		756	5.63%, 02/01/2020		290		297
5.13%, 05/01/2025		695		679	6.00%, 01/15/2043		600		497
6.00%, 10/01/2020		2,646		2,733	Meritage Homes Corp
6.25%, 02/01/2027(g),(h)		7,380		7,426	6.00%, 06/01/2025		1,475		1,460
6.75%, 02/01/2020		3		3	7.00%, 04/01/2022		955		1,004
6.75%, 06/15/2023		3,565		3,507	7.15%, 04/15/2020		870		900
6.88%, 11/15/2031		920		814	New Home Co Inc/The
7.00%, 08/01/2025		2,042		1,976	7.25%, 04/01/2022		731		671
7.50%, 01/01/2022(g)		2,120		2,203	PulteGroup Inc
8.13%, 04/01/2022		5,508		5,763	4.25%, 03/01/2021		3,660		3,711
WellCare Health Plans Inc					5.00%, 01/15/2027		1,525		1,467
5.25%, 04/01/2025		1,480		1,502	5.50%, 03/01/2026		400		402
5.38%, 08/15/2026(g)		4,835		4,920	6.00%, 02/15/2035		632		555
West Street Merger Sub Inc					7.88%, 06/15/2032		879		932
6.38%, 09/01/2025(g)		12,850		11,629	Shea Homes LP / Shea Homes Funding Corp
		$		249,405	5.88%, 04/01/2023(g)		125		119
Holding Companies - Diversified - 0.36%					6.13%, 04/01/2025(g)		651		602
Stena AB					Taylor Morrison Communities Inc
7.00%, 02/01/2024(g)		1,300		1,199	6.63%, 05/15/2022		620		631
Stena International SA					Taylor Morrison Communities Inc / Taylor
5.75%, 03/01/2024(g)		600		552	Morrison Holdings II Inc
Trident Merger Sub Inc					5.25%, 04/15/2021(g)		2,640		2,643
6.63%, 11/01/2025(g)		12,340		11,476	5.63%, 03/01/2024(g)		2,601		2,549
		$		13,227	5.88%, 04/15/2023(g)		566		560
Home Builders - 1.67%					Toll Brothers Finance Corp
Beazer Homes USA Inc					4.35%, 02/15/2028		1,490		1,356
5.88%, 10/15/2027		245		208	4.38%, 04/15/2023		3,371		3,303
6.75%, 03/15/2025		31		28	4.88%, 03/15/2027		1,935		1,862
8.75%, 03/15/2022		425		444	5.63%, 01/15/2024		1,550		1,588
Brookfield Residential Properties Inc					5.88%, 02/15/2022		430		447
6.38%, 05/15/2025(g)		596		560	TRI Pointe Group Inc
Brookfield Residential Properties Inc / Brookfield					4.88%, 07/01/2021		840		827
Residential US Corp					5.25%, 06/01/2027		1,655		1,432
6.13%, 07/01/2022(g)		1,654		1,621	TRI Pointe Group Inc / TRI Pointe Homes Inc
Century Communities Inc					5.88%, 06/15/2024		1,426		1,374
5.88%, 07/15/2025		538		495
6.88%, 05/15/2022		1,114		1,119

See accompanying notes.

88

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s) Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Home Builders (continued)					Internet (continued)
William Lyon Homes Inc					EIG Investors Corp
5.88%, 01/31/2025	$	600	$	528	10.88%, 02/01/2024	$	1,000	$	1,050
6.00%, 09/01/2023		275		251	Match Group Inc
7.00%, 08/15/2022		72		72	6.38%, 06/01/2024		1,717		1,794
Williams Scotsman International Inc					Netflix Inc
7.88%, 12/15/2022(g)		330		333	4.38%, 11/15/2026		2,861		2,709
		$		60,999	4.88%, 04/15/2028		2,716		2,584
Home Furnishings - 0.08%					5.38%, 02/01/2021		1,215		1,244
Tempur Sealy International Inc					5.50%, 02/15/2022		4,890		5,076
5.50%, 06/15/2026		588		562	5.75%, 03/01/2024		1,125		1,171
5.63%, 10/15/2023		2,486		2,467	5.88%, 02/15/2025		825		855
		$		3,029	5.88%, 11/15/2028(g)		2,700		2,737
Housewares - 0.07%					6.38%, 05/15/2029(g)		1,985		2,045
Scotts Miracle-Gro Co/The					Symantec Corp
5.25%, 12/15/2026		1,647		1,552	3.95%, 06/15/2022		50		49
6.00%, 10/15/2023		877		895	4.20%, 09/15/2020		200		200
		$		2,447	5.00%, 04/15/2025(g)		739		736
Insurance - 2.34%					VeriSign Inc
Acrisure LLC / Acrisure Finance Inc					4.75%, 07/15/2027		1,035		1,031
7.00%, 11/15/2025(g)		1,750		1,522	5.25%, 04/01/2025		885		912
Alliant Holdings Intermediate LLC / Alliant					Zayo Group LLC / Zayo Capital Inc
Holdings Co-Issuer					5.75%, 01/15/2027(g)		6,453		6,235
8.25%, 08/01/2023(g)		33,505		34,007	6.00%, 04/01/2023		3,615		3,633
American Equity Investment Life Holding Co					6.38%, 05/15/2025		2,375		2,319
5.00%, 06/15/2027		200		200			$		36,964
Ardonagh Midco 3 PLC					Investment Companies - 0.01%
8.63%, 07/15/2023(g)		225		195	Compass Group Diversified Holdings LLC
Assurant Inc					8.00%, 05/01/2026(g)		265		269
7.00%, 03/27/2048(l)		1,300		1,254	FS Energy & Power Fund
3 Month USD LIBOR + 4.14%					7.50%, 08/15/2023(g)		155		154
AssuredPartners Inc							$		423
7.00%, 08/15/2025(g)		21,302		20,344	Iron & Steel - 1.64%
CNO Financial Group Inc					AK Steel Corp
4.50%, 05/30/2020		6		6	6.38%, 10/15/2025		20		16
5.25%, 05/30/2025		1,192		1,207	7.00%, 03/15/2027		393		319
Fidelity & Guaranty Life Holdings Inc					7.50%, 07/15/2023		1,236		1,258
5.50%, 05/01/2025(g)		393		378	7.63%, 10/01/2021		50		48
Genworth Holdings Inc					Allegheny Technologies Inc
4.90%, 08/15/2023		125		110	5.95%, 01/15/2021		600		608
6.50%, 06/15/2034		50		41	7.88%, 08/15/2023		754		804
7.20%, 02/15/2021		939		939	Baffinland Iron Mines Corp / Baffinland Iron
7.63%, 09/24/2021		250		251	Mines LP
7.70%, 06/15/2020		250		255	8.75%, 07/15/2026(g)		22,940		22,767
HUB International Ltd					Big River Steel LLC / BRS Finance Corp
7.00%, 05/01/2026(g)		19,210		18,634	7.25%, 09/01/2025(g)		9,418		9,890
Liberty Mutual Group Inc					Cleveland-Cliffs Inc
7.80%, 03/07/2087(g)		386		436	4.88%, 01/15/2024(g)		40		38
3 Month USD LIBOR + 3.58%					5.75%, 03/01/2025		1,850		1,790
MGIC Investment Corp					6.25%, 10/01/2040		200		164
5.75%, 08/15/2023		1,335		1,368	Commercial Metals Co
Provident Financing Trust I					4.88%, 05/15/2023		2,781		2,670
7.41%, 03/15/2038		100		103	5.38%, 07/15/2027		154		140
Radian Group Inc					Specialty Steel
4.50%, 10/01/2024		1,353		1,318	12.85%, 11/15/2022(b),(c)		8,680		8,680
5.25%, 06/15/2020		24		24	Steel Dynamics Inc
7.00%, 03/15/2021		229		241	4.13%, 09/15/2025		6		6
USIS Merger Sub Inc					5.00%, 12/15/2026		66		66
6.88%, 05/01/2025(g)		1,337		1,284	5.13%, 10/01/2021		810		816
Voya Financial Inc					5.25%, 04/15/2023		703		712
4.70%, 01/23/2048(l)		1,000		830	5.50%, 10/01/2024		5,806		5,993
3 Month USD LIBOR + 2.08%					United States Steel Corp
5.65%, 05/15/2053(l)		550		534	6.25%, 03/15/2026		1,345		1,219
3 Month USD LIBOR + 3.58%					6.65%, 06/01/2037		15		13
		$		85,481	6.88%, 08/15/2025		2,050		1,942
Internet - 1.01%							$		59,959
Cogent Communications Group Inc					Leisure Products & Services - 0.54%
5.38%, 03/01/2022(g)		575		584	24 Hour Fitness Worldwide Inc
					8.00%, 06/01/2022(g)		900		885

See accompanying notes.

89

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)    Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Leisure Products & Services (continued)					Lodging (continued)
Carlson Travel Inc					Wynn Las Vegas LLC / Wynn Las Vegas Capital
6.75%, 12/15/2023(g)	$	240	$	238	Corp
9.50%, 12/15/2024(g)		8,629		8,057	4.25%, 05/30/2023(g)	$	300	$	293
Constellation Merger Sub Inc					5.25%, 05/15/2027(g)		1,150		1,075
8.50%, 09/15/2025(g)		315		303	5.50%, 03/01/2025(g)		6,915		6,725
NCL Corp Ltd					Wynn Macau Ltd
4.75%, 12/15/2021(g)		5,810		5,846	4.88%, 10/01/2024(g)		425		395
Sabre GLBL Inc					5.50%, 10/01/2027(g)		1,450		1,323
5.25%, 11/15/2023(g)		1,036		1,051			$		74,229
5.38%, 04/15/2023(g)		425		430	Machinery - Construction & Mining - 0.13%
Silversea Cruise Finance Ltd					BWX Technologies Inc
7.25%, 02/01/2025(g)		575		616	5.38%, 07/15/2026(g)		1,006		1,016
Viking Cruises Ltd					Terex Corp
5.88%, 09/15/2027(g)		1,125		1,100	5.63%, 02/01/2025(g)		2,218		2,146
Vista Outdoor Inc					Vertiv Group Corp
5.88%, 10/01/2023		125		116	9.25%, 10/15/2024(g)		905		842
VOC Escrow Ltd					Vertiv Intermediate Holding Corp
5.00%, 02/15/2028(g)		1,275		1,243	12.00%, PIK 13.00%, 02/15/2022(g),(i),(j)		950		905
		$		19,885			$		4,909
Lodging - 2.03%					Machinery - Diversified - 1.16%
Boyd Gaming Corp					ATS Automation Tooling Systems Inc
6.00%, 08/15/2026		900		900	6.50%, 06/15/2023(g)		526		536
6.38%, 04/01/2026		7,010		7,150	Cleaver-Brooks Inc
6.88%, 05/15/2023		1,888		1,962	7.88%, 03/01/2023(g)		416		412
Diamond Resorts International Inc					Cloud Crane LLC
7.75%, 09/01/2023(g)		300		295	10.13%, 08/01/2024(g)		600		639
10.75%, 09/01/2024(g)		1,175		1,069	CNH Industrial Capital LLC
Hilton Domestic Operating Co Inc					3.38%, 07/15/2019		525		526
4.25%, 09/01/2024		1,460		1,431	4.88%, 04/01/2021		430		436
5.13%, 05/01/2026(g)		2,705		2,726	JPW Industries Holding Corp
Hilton Grand Vacations Borrower LLC / Hilton					9.00%, 10/01/2024(g)		12,565		12,565
Grand Vacations Borrower Inc					Mueller Water Products Inc
6.13%, 12/01/2024		194		196	5.50%, 06/15/2026(g)		524		527
Hilton Worldwide Finance LLC / Hilton					RBS Global Inc / Rexnord LLC
Worldwide Finance Corp					4.88%, 12/15/2025(g)		3,366		3,248
4.63%, 04/01/2025		3,238		3,190	SPX FLOW Inc
4.88%, 04/01/2027		1,474		1,457	5.63%, 08/15/2024(g)		1,511		1,481
Jack Ohio Finance LLC / Jack Ohio Finance 1					5.88%, 08/15/2026(g)		1,810		1,783
Corp					Stevens Holding Co Inc
6.75%, 11/15/2021(g)		5,185		5,353	6.13%, 10/01/2026(g)		1,375		1,389
10.25%, 11/15/2022(g)		12,180		13,124	Tennant Co
Marriott Ownership Resorts Inc / ILG LLC					5.63%, 05/01/2025		239		236
6.50%, 09/15/2026(g)		900		911	Titan Acquisition Ltd / Titan Co-Borrower LLC
MGM Resorts International					7.75%, 04/15/2026(g)		20,606		18,030
4.63%, 09/01/2026		1,104		1,038	Welbilt Inc
5.25%, 03/31/2020		3,465		3,517	9.50%, 02/15/2024		755		810
5.75%, 06/15/2025		1,555		1,562			$		42,618
6.00%, 03/15/2023		1,485		1,541	Media - 6.71%
6.63%, 12/15/2021		5,290		5,588	Altice Financing SA
6.75%, 10/01/2020		150		157	6.63%, 02/15/2023(g)		3,400		3,418
7.75%, 03/15/2022		513		557	7.50%, 05/15/2026(g)		3,275		3,103
8.63%, 02/01/2019		1,700		1,700	Altice Finco SA
Seminole Hard Rock Entertainment Inc /					8.13%, 01/15/2024(g)		1,700		1,674
Seminole Hard Rock International LLC					Altice France SA/France
5.88%, 05/15/2021(g)		405		411	6.25%, 05/15/2024(g)		4,812		4,717
Station Casinos LLC					7.38%, 05/01/2026(g)		12,346		11,898
5.00%, 10/01/2025(g)		2,683		2,562	8.13%, 02/01/2027(g)		4,415		4,337
Studio City Co Ltd					Altice Luxembourg SA
7.25%, 11/30/2021(g)		500		516	7.63%, 02/15/2025(g)		5,124		4,355
Wyndham Destinations Inc					7.75%, 05/15/2022(g)		9,444		9,161
3.90%, 03/01/2023		1,325		1,249	AMC Networks Inc
4.25%, 03/01/2022		1,200		1,200	4.75%, 12/15/2022		250		251
5.40%, 04/01/2024		1,245		1,205	4.75%, 08/01/2025		2,677		2,586
5.75%, 04/01/2027		1,100		1,051	5.00%, 04/01/2024		3,090		3,067
Wyndham Hotels & Resorts Inc					Belo Corp
5.38%, 04/15/2026(g)		800		800	7.25%, 09/15/2027		600		619
					Block Communications Inc
					6.88%, 02/15/2025(g)		675		692

See accompanying notes.

90

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
		Principal					Principal
BONDS (continued)	Amount (000’s)        Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Media (continued)					Media (continued)
Cable One Inc					Quebecor Media Inc
5.75%, 06/15/2022(g)	$	225	$	229	5.75%, 01/15/2023	$	180	$	185
Cablevision Systems Corp					Radiate Holdco LLC / Radiate Finance Inc
5.88%, 09/15/2022		603		606	6.63%, 02/15/2025(g)		518		480
8.00%, 04/15/2020		155		161	Sinclair Television Group Inc
CBS Radio Inc					5.13%, 02/15/2027(g)		1,765		1,606
7.25%, 11/01/2024(g)		2,557		2,410	5.38%, 04/01/2021		290		290
CCO Holdings LLC / CCO Holdings Capital Corp					5.63%, 08/01/2024(g)		1,079		1,045
4.00%, 03/01/2023(g)		1,300		1,268	6.13%, 10/01/2022		330		336
5.00%, 02/01/2028(g)		4,630		4,398	Sirius XM Radio Inc
5.13%, 02/15/2023		412		416	3.88%, 08/01/2022(g)		1,208		1,190
5.13%, 05/01/2023(g)		8,100		8,208	4.63%, 05/15/2023(g)		2,680		2,676
5.13%, 05/01/2027(g)		4,569		4,415	5.00%, 08/01/2027(g)		2,836		2,741
5.25%, 03/15/2021		580		581	5.38%, 04/15/2025(g)		970		982
5.25%, 09/30/2022		9,940		10,048	5.38%, 07/15/2026(g)		5,820		5,769
5.38%, 05/01/2025(g)		1,475		1,483	6.00%, 07/15/2024(g)		7,440		7,728
5.50%, 05/01/2026(g)		880		878	SportsNet New York
5.75%, 01/15/2024		500		510	10.25%, 01/15/2025(b),(c),(d)		4,130		4,337
5.75%, 02/15/2026(g)		9,057		9,193	TEGNA Inc
5.88%, 04/01/2024(g)		3,156		3,235	4.88%, 09/15/2021(g)		1,020		1,017
5.88%, 05/01/2027(g)		1,380		1,384	5.13%, 10/15/2019		910		911
Cengage Learning Inc					5.13%, 07/15/2020		870		872
9.50%, 06/15/2024(g)		718		487	5.50%, 09/15/2024(g)		2,269		2,235
Clear Channel Worldwide Holdings Inc					6.38%, 10/15/2023		550		558
6.50%, 11/15/2022		650		665	Telenet Finance Luxembourg Notes Sarl
6.50%, 11/15/2022		2,550		2,607	5.50%, 03/01/2028(g)		2,200		2,079
7.63%, 03/15/2020		980		979	Townsquare Media Inc
CSC Holdings LLC					6.50%, 04/01/2023(g)		5,070		4,690
5.13%, 12/15/2021(g)		1,275		1,277	Tribune Media Co
5.13%, 12/15/2021(g)		4,300		4,307	5.88%, 07/15/2022		750		763
5.25%, 06/01/2024		1,630		1,565	Unitymedia GmbH
5.38%, 07/15/2023(g)		3,025		3,058	6.13%, 01/15/2025(g)		2,025		2,091
5.38%, 02/01/2028(g)		1,100		1,057	Unitymedia Hessen GmbH & Co KG /
5.50%, 05/15/2026(g)		4,528		4,483	Unitymedia NRW GmbH
5.50%, 04/15/2027(g)		3,441		3,364	5.00%, 01/15/2025(g)		4,570		4,645
6.50%, 02/01/2029(g)		1,770		1,793	Univision Communications Inc
6.63%, 10/15/2025(g)		3,860		4,039	5.13%, 05/15/2023(g)		980		917
6.75%, 11/15/2021		605		635	5.13%, 02/15/2025(g)		2,059		1,876
7.50%, 04/01/2028(g)		2,120		2,178	6.75%, 09/15/2022(g)		678		680
7.75%, 07/15/2025(g)		3,635		3,807	UPC Holding BV
10.88%, 10/15/2025(g)		7,040		8,115	5.50%, 01/15/2028(g)		2,175		2,001
DISH DBS Corp					UPCB Finance IV Ltd
5.00%, 03/15/2023		1,779		1,548	5.38%, 01/15/2025(g)		2,110		2,031
5.13%, 05/01/2020		1,506		1,510	Urban One Inc
5.88%, 07/15/2022		2,875		2,731	7.38%, 04/15/2022(g)		2,540		2,438
5.88%, 11/15/2024		7,054		5,846	Viacom Inc
6.75%, 06/01/2021		4,114		4,190	5.87%, 02/28/2057(l)		1,438		1,388
7.75%, 07/01/2026		2,281		1,962	3 Month USD LIBOR + 3.90%
EW Scripps Co/The					6.25%, 02/28/2057(l)		825		795
5.13%, 05/15/2025(g)		142		136	3 Month USD LIBOR + 3.90%
Gray Television Inc					Videotron Ltd
5.13%, 10/15/2024(g)		1,000		972	5.00%, 07/15/2022		200		206
5.88%, 07/15/2026(g)		400		393	5.13%, 04/15/2027(g)		535		536
7.00%, 05/15/2027(g)		1,995		2,066	5.38%, 06/15/2024(g)		667		697
Liberty Interactive LLC					Virgin Media Finance PLC
8.50%, 07/15/2029		1,450		1,472	6.00%, 10/15/2024(g)		1,590		1,610
McGraw-Hill Global Education Holdings LLC /					Virgin Media Secured Finance PLC
McGraw-Hill Global Education Finance					5.25%, 01/15/2021		625		628
7.88%, 05/15/2024(g)		500		373	5.25%, 01/15/2026(g)		500		493
Meredith Corp					5.50%, 01/15/2025(g)		200		202
6.88%, 02/01/2026(g)		1,625		1,674	5.50%, 08/15/2026(g)		4,920		4,834
Midcontinent Communications / Midcontinent					Ziggo Bond Co BV
Finance Corp					5.88%, 01/15/2025(g)		260		244
6.88%, 08/15/2023(g)		650		670	6.00%, 01/15/2027(g)		600		553
Nexstar Broadcasting Inc					Ziggo BV
5.63%, 08/01/2024(g)		1,670		1,616	5.50%, 01/15/2027(g)		3,020		2,854
5.88%, 11/15/2022		169		171			$		245,704
6.13%, 02/15/2022(g)		445		448

See accompanying notes.

91

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s) Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Metal Fabrication & Hardware - 0.61%					Mining (continued)
Grinding Media Inc / Moly-Cop AltaSteel Ltd					Taseko Mines Ltd
7.38%, 12/15/2023(g)	$	1,550	$	1,566	8.75%, 06/15/2022(g)	$	100	$	89
Hillman Group Inc/The					Teck Resources Ltd
6.38%, 07/15/2022(g)		903		736	3.75%, 02/01/2023		800		782
Novelis Corp					4.75%, 01/15/2022		1,045		1,058
5.88%, 09/30/2026(g)		6,100		5,886	5.20%, 03/01/2042		295		269
6.25%, 08/15/2024(g)		1,965		1,977	5.40%, 02/01/2043		397		377
Optimas OE Solutions Holding LLC / Optimas					6.00%, 08/15/2040		385		386
OE Solutions Inc					6.13%, 10/01/2035		400		418
8.63%, 06/01/2021(g)		11,735		10,855	6.25%, 07/15/2041		1,600		1,668
TriMas Corp					8.50%, 06/01/2024(g)		1,253		1,350
4.88%, 10/15/2025(g)		1,000		970			$		76,522
Zekelman Industries Inc					Miscellaneous Manufacturers - 0.12%
9.88%, 06/15/2023(g)		145		154	Amsted Industries Inc
		$		22,144	5.00%, 03/15/2022(g)		1,900		1,881
Mining - 2.09%					FXI Holdings Inc
Alcoa Nederland Holding BV					7.88%, 11/01/2024(g)		157		148
6.13%, 05/15/2028(g)		700		709	Gates Global LLC / Gates Global Co
6.75%, 09/30/2024(g)		1,993		2,076	6.00%, 07/15/2022(g)		239		240
7.00%, 09/30/2026(g)		200		211	Koppers Inc
Aleris International Inc					6.00%, 02/15/2025(g)		2,354		2,095
10.75%, 07/15/2023(g)		250		259	LSB Industries Inc
Barminco Finance Pty Ltd					9.63%, 05/01/2023(g)		100		102
6.63%, 05/15/2022(g)		450		443			$		4,466
Century Aluminum Co					Office & Business Equipment - 0.25%
7.50%, 06/01/2021(g)		7,605		7,586	CDW LLC / CDW Finance Corp
Constellium NV					5.00%, 09/01/2023		2,543		2,549
5.75%, 05/15/2024(g)		466		456	5.00%, 09/01/2025		1,840		1,826
5.88%, 02/15/2026(g)		500		479	5.50%, 12/01/2024		340		352
6.63%, 03/01/2025(g)		1,670		1,662	Lexmark International Inc
Eldorado Gold Corp					7.13%, 03/15/2020		108		90
6.13%, 12/15/2020(g)		200		190	Pitney Bowes Inc
Ferroglobe PLC / Globe Specialty Metals Inc					3.88%, 09/15/2020		335		330
9.38%, 03/01/2022(g)		325		278	3.88%, 10/01/2021		375		367
FMG Resources August 2006 Pty Ltd					4.38%, 05/15/2022		101		94
4.75%, 05/15/2022(g)		3,393		3,383	4.63%, 03/15/2024		300		269
5.13%, 03/15/2023(g)		300		298	4.95%, 04/01/2023		261		241
5.13%, 05/15/2024(g)		2,862		2,826	Xerox Corp
Freeport-McMoRan Inc					3.63%, 03/15/2023		1,200		1,143
3.10%, 03/15/2020		1,055		1,043	4.50%, 05/15/2021		1,650		1,652
3.55%, 03/01/2022		1,130		1,093	4.80%, 03/01/2035		200		154
3.88%, 03/15/2023		7,005		6,699	6.75%, 12/15/2039		100		91
4.00%, 11/14/2021		3,330		3,288			$		9,158
4.55%, 11/14/2024		1,600		1,534	Oil & Gas - 6.66%
5.40%, 11/14/2034		5,578		4,951	Aker BP ASA
5.45%, 03/15/2043		2,105		1,810	5.88%, 03/31/2025(g)		550		564
6.88%, 02/15/2023		1,100		1,149	6.00%, 07/01/2022(g)		400		409
Hecla Mining Co					Alta Mesa Holdings LP / Alta Mesa Finance
6.88%, 05/01/2021		568		569	Services Corp
Hudbay Minerals Inc					7.88%, 12/15/2024		300		207
7.25%, 01/15/2023(g)		990		1,020	Antero Resources Corp
7.63%, 01/15/2025(g)		3,235		3,324	5.00%, 03/01/2025		941		908
IAMGOLD Corp					5.13%, 12/01/2022		8,420		8,409
7.00%, 04/15/2025(g)		1,295		1,264	5.38%, 11/01/2021		1,965		1,975
International Wire Group Inc					5.63%, 06/01/2023		700		698
10.75%, 08/01/2021(g)		25		23	Ascent Resources Utica Holdings LLC / ARU
Joseph T Ryerson & Son Inc					Finance Corp
11.00%, 05/15/2022(g)		550		569	7.00%, 11/01/2026(g)		6,205		5,988
JW Aluminum Continuous Cast Co					10.00%, 04/01/2022(g)		2,782		2,973
10.25%, 06/01/2026(g)		435		434	Athabasca Oil Corp
Kaiser Aluminum Corp					9.88%, 02/24/2022(g)		95		91
5.88%, 05/15/2024		234		238	Baytex Energy Corp
Northwest Acquisitions ULC / Dominion Finco					5.13%, 06/01/2021(g)		272		267
Inc					5.63%, 06/01/2024(g)		938		844
7.13%, 11/01/2022(g)		15,490		15,431	Berry Petroleum Co LLC
Real Alloy Holding Inc					7.00%, 02/15/2026(g)		265		257
12.39%, 11/30/2023(b),(c),(d)		4,830		4,830

See accompanying notes.

92

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
		Principal					Principal
BONDS (continued)	Amount (000’s)        Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Oil & Gas (continued)					Oil & Gas (continued)
Brazos Valley Longhorn LLC / Brazos Valley					Ensco PLC
Longhorn Finance Corp					4.50%, 10/01/2024	$	1,775	$	1,318
6.88%, 02/01/2025	$	2,075	$	2,101	5.20%, 03/15/2025		871		649
Bruin E&P Partners LLC					5.75%, 10/01/2044		550		359
8.88%, 08/01/2023(g)		265		252	7.75%, 02/01/2026		700		562
California Resources Corp					8.00%, 01/31/2024		39		34
8.00%, 12/15/2022(g)		2,436		1,966	EP Energy LLC / Everest Acquisition Finance Inc
Callon Petroleum Co					6.38%, 06/15/2023		8,955		3,492
6.13%, 10/01/2024		1,783		1,787	7.75%, 09/01/2022		500		225
6.38%, 07/01/2026		765		767	7.75%, 05/15/2026(g)		600		553
Calumet Specialty Products Partners LP / Calumet					8.00%, 11/29/2024(g)		29		23
Finance Corp					8.00%, 02/15/2025(g)		305		151
6.50%, 04/15/2021		850		797	9.38%, 05/01/2020		260		207
7.63%, 01/15/2022		125		117	9.38%, 05/01/2024(g)		4,709		2,507
7.75%, 04/15/2023		375		328	Extraction Oil & Gas Inc
Canadian Oil Sands Ltd					5.63%, 02/01/2026(g)		1,075		881
4.50%, 04/01/2022(g)		700		700	7.38%, 05/15/2024(g)		300		277
Carrizo Oil & Gas Inc					Global Marine Inc
6.25%, 04/15/2023		786		776	7.00%, 06/01/2028		300		263
8.25%, 07/15/2025		125		129	Great Western Petroleum LLC / Great Western
Centennial Resource Production LLC					Finance Corp
5.38%, 01/15/2026(g)		423		408	9.00%, 09/30/2021(g)		350		312
Chaparral Energy Inc					Gulfport Energy Corp
8.75%, 07/15/2023(g)		800		616	6.00%, 10/15/2024		1,567		1,473
Chesapeake Energy Corp					6.38%, 05/15/2025		1,285		1,218
4.88%, 04/15/2022		1,590		1,510	6.63%, 05/01/2023		918		909
5.38%, 06/15/2021		202		197	Halcon Resources Corp
5.75%, 03/15/2023		400		376	6.75%, 02/15/2025		1,140		878
6.13%, 02/15/2021		2,606		2,599	Hess Infrastructure Partners LP / Hess
6.63%, 08/15/2020		505		509	Infrastructure Partners Finance Corp
7.50%, 10/01/2026		250		239	5.63%, 02/15/2026(g)		476		471
8.00%, 01/15/2025		5,950		5,988	HighPoint Operating Corp
8.00%, 06/15/2027		4,805		4,601	7.00%, 10/15/2022		1,700		1,628
CNX Resources Corp					Hilcorp Energy I LP / Hilcorp Finance Co
5.88%, 04/15/2022		2,200		2,189	5.00%, 12/01/2024(g)		1,666		1,583
Comstock Resources Inc					5.75%, 10/01/2025(g)		900		875
9.75%, 08/15/2026(g)		500		462	6.25%, 11/01/2028(g)		1,050		1,024
Covey Park Energy LLC / Covey Park Finance					Indigo Natural Resources LLC
Corp					6.88%, 02/15/2026(g)		825		722
7.50%, 05/15/2025(g)		1,325		1,226	Jones Energy Holdings LLC / Jones Energy
CrownRock LP / CrownRock Finance Inc					Finance Corp
5.63%, 10/15/2025(g)		2,556		2,454	9.25%, 03/15/2023(g)		60		47
CVR Refining LLC / Coffeyville Finance Inc					Kosmos Energy Ltd
6.50%, 11/01/2022		460		461	7.88%, 08/01/2021(g)		200		200
Denbury Resources Inc					Laredo Petroleum Inc
5.50%, 05/01/2022		755		551	5.63%, 01/15/2022		100		97
9.00%, 05/15/2021(g)		900		891	Magnolia Oil & Gas Operating LLC / Magnolia
9.25%, 03/31/2022(g)		571		561	Oil & Gas Finance Corp
Diamond Offshore Drilling Inc					6.00%, 08/01/2026(g)		285		282
3.45%, 11/01/2023		1,000		842	Matador Resources Co
4.88%, 11/01/2043		1,075		661	5.88%, 09/15/2026		400		399
7.88%, 08/15/2025		1,597		1,509	MEG Energy Corp
Diamondback Energy Inc					6.38%, 01/30/2023(g)		17,974		15,907
4.75%, 11/01/2024		998		996	6.50%, 01/15/2025(g)		945		928
5.38%, 05/31/2025		700		717	7.00%, 03/31/2024(g)		20,137		17,771
Eclipse Resources Corp					Moss Creek Resources Holdings Inc
8.88%, 07/15/2023		2,145		1,941	7.50%, 01/15/2026(g)		725		649
Endeavor Energy Resources LP / EER Finance					Murphy Oil Corp
Inc					4.00%, 06/01/2022		720		704
5.50%, 01/30/2026(g)		757		789	4.45%, 12/01/2022		600		590
5.75%, 01/30/2028(g)		565		600	5.75%, 08/15/2025		730		733
Energy Ventures Gom LLC / EnVen Finance Corp					5.87%, 12/01/2042		200		166
11.00%, 02/15/2023(g)		2,180		2,333	6.88%, 08/15/2024		300		315
ENSCO International Inc					Murphy Oil USA Inc
7.20%, 11/15/2027		176		136	5.63%, 05/01/2027		2,700		2,660
					6.00%, 08/15/2023		935		949

See accompanying notes.

93

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
		Principal					Principal
BONDS (continued)	Amount (000’s)           Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Oil & Gas (continued)					Oil & Gas (continued)
Nabors Industries Inc					Sanchez Energy Corp
4.63%, 09/15/2021	$	365	$	345	6.13%, 01/15/2023	$	5,190	$	908
5.00%, 09/15/2020		375		369	7.75%, 06/15/2021		750		139
5.50%, 01/15/2023		218		196	Seven Generations Energy Ltd
5.75%, 02/01/2025		125		109	5.38%, 09/30/2025(g)		3,130		3,020
Neptune Energy Bondco PLC					6.75%, 05/01/2023(g)		125		128
6.63%, 05/15/2025(g)		800		773	6.88%, 06/30/2023(g)		650		655
Newfield Exploration Co					SM Energy Co
5.38%, 01/01/2026		400		411	5.00%, 01/15/2024		3,409		3,221
5.63%, 07/01/2024		757		793	5.63%, 06/01/2025		200		191
5.75%, 01/30/2022		150		156	6.13%, 11/15/2022		2,577		2,583
Noble Holding International Ltd					6.63%, 01/15/2027		1,485		1,448
5.25%, 03/15/2042		320		192	6.75%, 09/15/2026		925		911
6.05%, 03/01/2041		500		310	Southwestern Energy Co
6.20%, 08/01/2040		736		456	6.20%, 01/23/2025		1,317		1,277
7.75%, 01/15/2024		1,900		1,596	7.50%, 04/01/2026		300		308
7.88%, 02/01/2026(g)		700		648	7.75%, 10/01/2027		800		824
7.95%, 04/01/2025		1,770		1,434	SRC Energy Inc
Oasis Petroleum Inc					6.25%, 12/01/2025		1,300		1,154
6.25%, 05/01/2026(g)		2,250		2,135	Sunoco LP / Sunoco Finance Corp
6.88%, 03/15/2022		4,576		4,564	5.50%, 02/15/2026		800		790
Pacific Drilling SA					5.88%, 03/15/2028		316		308
8.38%, 10/01/2023(g)		1,000		993	Teine Energy Ltd
Parkland Fuel Corp					6.88%, 09/30/2022(g)		915		910
6.00%, 04/01/2026(g)		1,200		1,146	Transocean Guardian Ltd
Parsley Energy LLC / Parsley Finance Corp					5.88%, 01/15/2024(g)		960		965
5.25%, 08/15/2025(g)		395		391	Transocean Inc
5.38%, 01/15/2025(g)		1,430		1,419	6.80%, 03/15/2038		1,252		942
5.63%, 10/15/2027(g)		2,090		2,072	7.25%, 11/01/2025(g)		1,000		945
6.25%, 06/01/2024(g)		50		51	7.50%, 01/15/2026(g)		1,100		1,046
PBF Holding Co LLC / PBF Finance Corp					7.50%, 04/15/2031		690		564
7.00%, 11/15/2023		367		368	9.00%, 07/15/2023(g)		255		266
7.25%, 06/15/2025		1,215		1,209	9.35%, 12/15/2041		200		186
PDC Energy Inc					Transocean Pontus Ltd
5.75%, 05/15/2026		2,855		2,677	6.13%, 08/01/2025(g)		900		904
6.13%, 09/15/2024		620		605	Trinidad Drilling Ltd
Precision Drilling Corp					6.63%, 02/15/2025(g)		246		248
5.25%, 11/15/2024		4,183		3,587	Ultra Resources Inc
6.50%, 12/15/2021		668		645	6.88%, 04/15/2022(g)		550		220
7.13%, 01/15/2026(g)		450		412	7.13%, 04/15/2025(g)		41		12
7.75%, 12/15/2023		3,260		3,113	Unit Corp
Pride International LLC					6.63%, 05/15/2021		244		231
7.88%, 08/15/2040		300		237	Vermilion Energy Inc
Puma International Financing SA					5.63%, 03/15/2025(g)		400		381
5.13%, 10/06/2024(g)		400		349	Vine Oil & Gas LP / Vine Oil & Gas Finance
QEP Resources Inc					Corp
5.25%, 05/01/2023		142		137	8.75%, 04/15/2023(g)		425		350
5.38%, 10/01/2022		593		583	W&T Offshore Inc
5.63%, 03/01/2026		446		428	9.75%, 11/01/2023(g)		229		223
Range Resources Corp					Whiting Petroleum Corp
4.88%, 05/15/2025		472		426	5.75%, 03/15/2021		4,858		4,858
5.00%, 08/15/2022		3,659		3,554	6.25%, 04/01/2023		3,200		3,160
5.00%, 03/15/2023		4,489		4,291	6.63%, 01/15/2026		2,995		2,935
5.75%, 06/01/2021		860		864	WPX Energy Inc
Resolute Energy Corp					5.25%, 09/15/2024		3,643		3,589
8.50%, 05/01/2020		17,460		17,504	5.75%, 06/01/2026		1,599		1,591
Rowan Cos Inc					6.00%, 01/15/2022		1,697		1,723
4.75%, 01/15/2024		2		2	8.25%, 08/01/2023		300		334
4.88%, 06/01/2022		400		354			$		243,743
5.40%, 12/01/2042		5		3	Oil & Gas Services - 0.44%
5.85%, 01/15/2044		430		284	Apergy Corp
7.38%, 06/15/2025		2,470		2,124	6.38%, 05/01/2026		500		492
Sable Permian Resources Land LLC / AEPB					Archrock Partners LP / Archrock Partners Finance
Finance Corp					Corp
7.13%, 11/01/2020(g)		450		148	6.00%, 10/01/2022		286		279
7.38%, 11/01/2021(g)		200		66	Calfrac Holdings LP
13.00%, 11/30/2020(g)		100		103	8.50%, 06/15/2026(g)		215		161

See accompanying notes.

94

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
		Principal					Principal
BONDS (continued)	Amount (000’s)        Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Oil & Gas Services (continued)					Packaging & Containers (continued)
CSI Compressco LP / CSI Compressco Finance					Crown Americas LLC / Crown Americas Capital
Inc					Corp V
7.25%, 08/15/2022	$	848	$	751	4.25%, 09/30/2026	$	1,400	$	1,330
Exterran Energy Solutions LP / EES Finance Corp					Crown Americas LLC / Crown Americas Capital
8.13%, 05/01/2025		31		30	Corp VI
Forum Energy Technologies Inc					4.75%, 02/01/2026(h)		3,215		3,151
6.25%, 10/01/2021		355		314	Flex Acquisition Co Inc
FTS International Inc					6.88%, 01/15/2025(g)		818		765
6.25%, 05/01/2022		125		117	7.88%, 07/15/2026(g)		475		451
KCA Deutag UK Finance PLC					Graphic Packaging International LLC
7.25%, 05/15/2021(g)		400		316	4.75%, 04/15/2021		120		121
9.63%, 04/01/2023(g)		325		245	4.88%, 11/15/2022		363		365
9.88%, 04/01/2022(g)		328		254	Multi-Color Corp
McDermott Technology Americas Inc /					4.88%, 11/01/2025(g)		625		594
McDermott Technology US Inc					6.13%, 12/01/2022(g)		700		705
10.63%, 05/01/2024(g)		1,100		985	Owens-Brockway Glass Container Inc
Oceaneering International Inc					5.00%, 01/15/2022(g)		4,283		4,326
4.65%, 11/15/2024		2,008		1,707	5.38%, 01/15/2025(g)		200		199
SESI LLC					5.88%, 08/15/2023(g)		1,223		1,266
7.13%, 12/15/2021		265		235	6.38%, 08/15/2025(g)		83		87
7.75%, 09/15/2024		1,250		978	Plastipak Holdings Inc
Telford Offshore Ltd					6.25%, 10/15/2025(g)		20,567		18,561
10.00%, PIK 13.00%, 02/12/2024(i),(j)		293		143	Reynolds Group Issuer Inc / Reynolds
Transocean Phoenix 2 Ltd					Group Issuer LLC / Reynolds Group Issuer
7.75%, 10/15/2024(g)		480		499	(Luxembourg) S.A.
Transocean Proteus Ltd					5.13%, 07/15/2023(g)		7,235		7,249
6.25%, 12/01/2024(g)		657		660	5.75%, 10/15/2020		2,277		2,286
Weatherford International LLC					6.88%, 02/15/2021		225		226
9.88%, 03/01/2025		770		491	7.00%, 07/15/2024(g)		966		988
Weatherford International Ltd					Sealed Air Corp
4.50%, 04/15/2022		3,736		2,372	5.13%, 12/01/2024(g)		80		81
5.13%, 09/15/2020		513		395	5.25%, 04/01/2023(g)		2,285		2,325
5.95%, 04/15/2042		5		3	5.50%, 09/15/2025(g)		1,208		1,235
6.50%, 08/01/2036		169		96	6.50%, 12/01/2020(g)		493		513
6.75%, 09/15/2040		373		213	Silgan Holdings Inc
7.00%, 03/15/2038		820		472	5.50%, 02/01/2022		348		349
7.75%, 06/15/2021		2,100		1,790	W/S Packaging Holdings Inc
8.25%, 06/15/2023		1,790		1,141	9.00%, 04/15/2023(g)		14,945		15,020
9.88%, 02/15/2024		1,700		1,105			$		104,006
		$		16,244	Pharmaceuticals - 1.94%
Packaging & Containers - 2.84%					Bausch Health Cos Inc
ARD Finance SA					5.50%, 03/01/2023(g)		3,357		3,256
7.13%, PIK 7.88%, 09/15/2023(i),(j)		930		897	5.50%, 11/01/2025(g)		4,645		4,616
Ardagh Packaging Finance PLC / Ardagh					5.63%, 12/01/2021(g)		810		811
Holdings USA Inc					5.88%, 05/15/2023(g)		5,264		5,152
4.25%, 09/15/2022(g)		3,350		3,316	6.13%, 04/15/2025(g)		6,245		5,902
4.63%, 05/15/2023(g)		1,780		1,780	6.50%, 03/15/2022(g)		3,265		3,375
6.00%, 02/15/2025(g)		5,800		5,640	7.00%, 03/15/2024(g)		2,717		2,855
7.25%, 05/15/2024(g)		2,025		2,093	9.00%, 12/15/2025(g)		1,000		1,066
Ball Corp					BioScrip Inc
4.00%, 11/15/2023		1,080		1,083	8.88%, 02/15/2021		560		542
4.38%, 12/15/2020		1,625		1,648	Elanco Animal Health Inc
4.88%, 03/15/2026		1,440		1,463	3.91%, 08/27/2021(g)		1,075		1,076
5.00%, 03/15/2022		3,997		4,131	4.27%, 08/28/2023(g)		900		906
5.25%, 07/01/2025		755		790	4.90%, 08/28/2028(g)		2,083		2,156
Berry Global Inc					Endo Dac / Endo Finance LLC / Endo Finco Inc
4.50%, 02/15/2026(g)		200		188	5.88%, 10/15/2024(g)		200		196
5.13%, 07/15/2023		4,070		4,081	6.00%, 07/15/2023(g)		2,395		1,957
5.50%, 05/15/2022		400		403	6.00%, 02/01/2025(g)		4,200		3,245
6.00%, 10/15/2022		420		429	Endo Finance LLC
BWAY Holding Co					5.75%, 01/15/2022(g)		700		635
5.50%, 04/15/2024(g)		7,129		6,964	Endo Finance LLC / Endo Finco Inc
7.25%, 04/15/2025(g)		4,100		3,782	5.38%, 01/15/2023(g)		3,145		2,567
Crown Americas LLC / Crown Americas Capital					7.25%, 01/15/2022(g)		480		453
Corp IV					HLF Financing Sarl LLC / Herbalife International
4.50%, 01/15/2023		3,110		3,125	Inc
					7.25%, 08/15/2026(g)		318		322

See accompanying notes.

95

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)     Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Pharmaceuticals (continued)					Pipelines (continued)
Horizon Pharma USA Inc					Genesis Energy LP / Genesis Energy Finance
8.75%, 11/01/2024(g)	$	700	$	740	Corp
NVA Holdings Inc/United States					5.63%, 06/15/2024	$	669	$	615
6.88%, 04/01/2026(g)		12,293		11,736	6.00%, 05/15/2023		1,000		960
Owens & Minor Inc					6.25%, 05/15/2026		1,490		1,366
3.88%, 09/15/2021		515		447	6.50%, 10/01/2025		361		341
4.38%, 12/15/2024		597		460	6.75%, 08/01/2022		1,570		1,577
Valeant Pharmaceuticals International					Holly Energy Partners LP / Holly Energy Finance
8.50%, 01/31/2027(g)		870		909	Corp
9.25%, 04/01/2026(g)		1,555		1,672	6.00%, 08/01/2024(g)		1,518		1,529
Vizient Inc					IFM US Colonial Pipeline 2 LLC
10.38%, 03/01/2024(g)		12,840		13,915	6.45%, 05/01/2021(g)		100		103
		$		70,967	Martin Midstream Partners LP / Martin Midstream
Pipelines - 3.13%					Finance Corp
American Midstream Partners LP / American					7.25%, 02/15/2021		340		330
Midstream Finance Corp					NGPL PipeCo LLC
9.50%, 12/15/2021(g)		700		651	4.38%, 08/15/2022(g)		395		398
Antero Midstream Partners LP / Antero					4.88%, 08/15/2027(g)		1,481		1,466
Midstream Finance Corp					7.77%, 12/15/2037(g)		300		358
5.38%, 09/15/2024		6,625		6,492	NuStar Logistics LP
Blue Racer Midstream LLC / Blue Racer Finance					4.75%, 02/01/2022		965		941
Corp					4.80%, 09/01/2020		3,454		3,466
6.13%, 11/15/2022(g)		1,030		1,040	5.63%, 04/28/2027		1,490		1,445
Buckeye Partners LP					6.75%, 02/01/2021		2,090		2,148
6.37%, 01/22/2078(l)		1,650		1,435	PBF Logistics LP / PBF Logistics Finance Corp
3 Month USD LIBOR + 4.02%					6.88%, 05/15/2023		1,432		1,459
Cheniere Corpus Christi Holdings LLC					SemGroup Corp
5.13%, 06/30/2027		800		808	6.38%, 03/15/2025		1,000		938
5.88%, 03/31/2025		3,190		3,361	7.25%, 03/15/2026		260		248
7.00%, 06/30/2024		1,330		1,458	SemGroup Corp / Rose Rock Finance Corp
Cheniere Energy Partners LP					5.63%, 07/15/2022		889		845
5.25%, 10/01/2025		7,228		7,264	5.63%, 11/15/2023		2,480		2,306
5.63%, 10/01/2026(g)		3,790		3,799	Summit Midstream Holdings LLC / Summit
CNX Midstream Partners LP / CNX Midstream					Midstream Finance Corp
Finance Corp					5.50%, 08/15/2022		920		888
6.50%, 03/15/2026(g)		1,060		1,043	5.75%, 04/15/2025		4,937		4,629
Crestwood Midstream Partners LP / Crestwood					Tallgrass Energy Partners LP / Tallgrass Energy
Midstream Finance Corp					Finance Corp
5.75%, 04/01/2025		1,572		1,541	4.75%, 10/01/2023(g)		375		374
6.25%, 04/01/2023		2,515		2,537	5.50%, 09/15/2024(g)		2,010		2,015
DCP Midstream Operating LP					5.50%, 01/15/2028(g)		2,205		2,149
2.70%, 04/01/2019		1,115		1,114	Targa Resources Partners LP / Targa Resources
3.88%, 03/15/2023		1,153		1,121	Partners Finance Corp
4.75%, 09/30/2021(g)		581		584	4.13%, 11/15/2019		780		780
4.95%, 04/01/2022		1,398		1,412	4.25%, 11/15/2023		525		508
5.35%, 03/15/2020(g)		173		176	5.00%, 01/15/2028		4,660		4,377
5.38%, 07/15/2025		1,520		1,551	5.13%, 02/01/2025		2,510		2,466
5.60%, 04/01/2044		1,335		1,212	5.25%, 05/01/2023		650		651
5.85%, 05/21/2043(g)		3,360		2,890	5.38%, 02/01/2027		1,484		1,432
3 Month USD LIBOR + 7.70%					5.88%, 04/15/2026(g)		1,800		1,816
6.45%, 11/03/2036(g)		170		171	6.50%, 07/15/2027(g)		2,275		2,346
6.75%, 09/15/2037(g)		490		500	6.75%, 03/15/2024		6,990		7,270
8.13%, 08/16/2030		45		52	6.88%, 01/15/2029(g)		695		723
Delek Logistics Partners LP / Delek Logistics							$		114,511
Finance Corp					Private Equity - 0.15%
6.75%, 05/15/2025		636		630	Icahn Enterprises LP / Icahn Enterprises Finance
Energy Transfer LP					Corp
4.25%, 03/15/2023		900		907	5.88%, 02/01/2022		1,883		1,897
5.50%, 06/01/2027		1,100		1,141	6.00%, 08/01/2020		200		202
5.88%, 01/15/2024		2,370		2,518	6.25%, 02/01/2022		1,187		1,219
7.50%, 10/15/2020		7,434		7,889	6.38%, 12/15/2025		1,175		1,200
EnLink Midstream Partners LP					6.75%, 02/01/2024		857		883
4.15%, 06/01/2025		1,000		935			$		5,401
4.40%, 04/01/2024		1,950		1,872	Real Estate - 0.31%
4.85%, 07/15/2026		580		544	Five Point Operating Co LP / Five Point Capital
5.45%, 06/01/2047		700		600	Corp
					7.88%, 11/15/2025(g)		1,736		1,667

See accompanying notes.

96

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
		Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Real Estate (continued)					REITs (continued)
Greystar Real Estate Partners LLC					Sabra Health Care LP / Sabra Capital Corp
5.75%, 12/01/2025(g)	$	936	$	929	5.50%, 02/01/2021	$	1,600	$	1,616
Howard Hughes Corp/The					SBA Communications Corp
5.38%, 03/15/2025(g)		1,350		1,343	4.00%, 10/01/2022		1,350		1,333
Hunt Cos Inc					4.88%, 07/15/2022		1,288		1,304
6.25%, 02/15/2026(g)		1,175		1,057	4.88%, 09/01/2024		1,723		1,725
Kennedy-Wilson Inc					Starwood Property Trust Inc
5.88%, 04/01/2024		1,350		1,320	3.63%, 02/01/2021		4,420		4,357
Realogy Group LLC / Realogy Co-Issuer Corp					4.75%, 03/15/2025		1,706		1,638
4.50%, 04/15/2019(g)		2,660		2,660	5.00%, 12/15/2021		1,715		1,732
4.88%, 06/01/2023(g)		800		722	Uniti Group LP / Uniti Fiber Holdings Inc / CSL
5.25%, 12/01/2021(g)		1,150		1,150	Capital LLC
WeWork Cos Inc					7.13%, 12/15/2024(g)		21,120		18,638
7.88%, 05/01/2025(g)		640		579	Uniti Group LP / Uniti Group Finance Inc / CSL
		$		11,427	Capital LLC
REITs - 3.11%					6.00%, 04/15/2023(g)		1,197		1,134
CBL & Associates LP					8.25%, 10/15/2023		19,605		18,134
5.25%, 12/01/2023		25		21	VICI Properties 1 LLC / VICI FC Inc
5.95%, 12/15/2026		500		398	8.00%, 10/15/2023		5,060		5,465
CoreCivic Inc							$		113,829
4.63%, 05/01/2023		948		889	Retail - 2.16%
4.75%, 10/15/2027		836		712	1011778 BC ULC / New Red Finance Inc
CyrusOne LP / CyrusOne Finance Corp					4.25%, 05/15/2024(g)		9,496		9,187
5.00%, 03/15/2024		702		707	4.63%, 01/15/2022(g)		2,880		2,887
5.38%, 03/15/2027		619		621	5.00%, 10/15/2025(g)		3,645		3,518
Equinix Inc					Asbury Automotive Group Inc
5.38%, 01/01/2022		404		412	6.00%, 12/15/2024		300		302
5.38%, 04/01/2023		1,450		1,466	Beacon Roofing Supply Inc
5.38%, 05/15/2027		1,785		1,789	4.88%, 11/01/2025(g)		985		917
5.75%, 01/01/2025		2,206		2,278	Bed Bath & Beyond Inc
5.88%, 01/15/2026		3,503		3,618	5.17%, 08/01/2044		1,124		829
ESH Hospitality Inc					Brinker International Inc
5.25%, 05/01/2025(g)		3,864		3,820	5.00%, 10/01/2024(g)		1,050		1,003
GEO Group Inc/The					Caleres Inc
5.13%, 04/01/2023		640		584	6.25%, 08/15/2023		1,110		1,143
5.88%, 01/15/2022		700		682	Carvana Co
5.88%, 10/15/2024		1,000		905	8.88%, 10/01/2023(g)		700		670
6.00%, 04/15/2026		1,100		983	Cumberland Farms Inc
GLP Capital LP / GLP Financing II Inc					6.75%, 05/01/2025(g)		127		129
4.88%, 11/01/2020		2,195		2,226	DriveTime Automotive Group Inc / Bridgecrest
Iron Mountain Inc					Acceptance Corp
4.38%, 06/01/2021(g)		1,000		998	8.00%, 06/01/2021(g)		230		229
4.88%, 09/15/2027(g)		1,546		1,425	Ferrellgas LP / Ferrellgas Finance Corp
5.25%, 03/15/2028(g)		2,530		2,353	6.50%, 05/01/2021		191		167
5.75%, 08/15/2024		2,175		2,164	6.75%, 01/15/2022		450		394
6.00%, 08/15/2023		2,780		2,849	6.75%, 06/15/2023		110		96
Iron Mountain US Holdings Inc					Ferrellgas Partners LP / Ferrellgas Partners
5.38%, 06/01/2026(g)		2,820		2,683	Finance Corp
iStar Inc					8.63%, 06/15/2020		100		75
4.63%, 09/15/2020		25		25	FirstCash Inc
5.25%, 09/15/2022		500		492	5.38%, 06/01/2024(g)		114		114
6.00%, 04/01/2022		681		679	GameStop Corp
6.50%, 07/01/2021		400		406	6.75%, 03/15/2021(g)		200		201
Mack-Cali Realty LP					Gap Inc/The
3.15%, 05/15/2023		320		273	5.95%, 04/12/2021		1,050		1,088
MGM Growth Properties Operating Partnership					Golden Nugget Inc
LP / MGP Finance Co-Issuer Inc					6.75%, 10/15/2024(g)		1,661		1,661
4.50%, 09/01/2026		900		853	8.75%, 10/01/2025(g)		1,475		1,512
5.63%, 05/01/2024		1,315		1,351	Group 1 Automotive Inc
MPT Operating Partnership LP / MPT Finance					5.00%, 06/01/2022		350		347
Corp					5.25%, 12/15/2023(g)		284		273
5.00%, 10/15/2027		1,640		1,597	Guitar Center Escrow Issuer Inc
5.25%, 08/01/2026		5,498		5,526	9.50%, 10/15/2021(g)		1,175		1,103
5.50%, 05/01/2024		4,625		4,717	IRB Holding Corp
6.38%, 03/01/2024		4,935		5,157	6.75%, 02/15/2026(g)		135		126
RHP Hotel Properties LP / RHP Finance Corp
5.00%, 04/15/2023		1,090		1,094

See accompanying notes.

97

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)     Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Retail (continued)					Semiconductors (continued)
JC Penney Corp Inc					NXP BV / NXP Funding LLC
5.88%, 07/01/2023(g)	$	85	$	71	4.13%, 06/01/2021(g)	$	3,340	$	3,352
6.38%, 10/15/2036		200		64	Qorvo Inc
8.63%, 03/15/2025(g)		400		225	5.50%, 07/15/2026(g)		425		422
KFC Holding Co/Pizza Hut Holdings LLC/Taco					Sensata Technologies UK Financing Co PLC
Bell of America LLC					6.25%, 02/15/2026(g)		3,588		3,723
4.75%, 06/01/2027(g)		1,940		1,879			$		12,102
5.00%, 06/01/2024(g)		900		902	Software - 1.92%
5.25%, 06/01/2026(g)		4,600		4,658	Ascend Learning LLC
L Brands Inc					6.88%, 08/01/2025(g)		2,491		2,491
5.25%, 02/01/2028		1,100		965	Camelot Finance SA
5.63%, 02/15/2022		1,000		1,016	7.88%, 10/15/2024(g)		1,610		1,658
5.63%, 10/15/2023		165		164	CDK Global Inc
6.69%, 01/15/2027		988		939	3.80%, 10/15/2019		545		544
6.75%, 07/01/2036		450		380	4.88%, 06/01/2027		984		955
6.88%, 11/01/2035		361		310	5.00%, 10/15/2024		1,981		1,976
7.60%, 07/15/2037		500		393	5.88%, 06/15/2026		1,515		1,552
Men's Wearhouse Inc/The					Change Healthcare Holdings LLC / Change
7.00%, 07/01/2022		16		16	Healthcare Finance Inc
Neiman Marcus Group Ltd LLC					5.75%, 03/01/2025(g)		1,550		1,484
8.00%, 10/15/2021(g)		1,095		496	Fair Isaac Corp
Party City Holdings Inc					5.25%, 05/15/2026(g)		75		75
6.63%, 08/01/2026(g)		400		389	First Data Corp
Penske Automotive Group Inc					5.00%, 01/15/2024(g)		6,275		6,412
3.75%, 08/15/2020		4,365		4,338	5.38%, 08/15/2023(g)		1,405		1,432
5.50%, 05/15/2026		836		817	5.75%, 01/15/2024(g)		3,032		3,117
5.75%, 10/01/2022		965		979	Genesys Telecommunications Laboratories Inc/
PetSmart Inc					Greeneden Lux 3 Sarl
5.88%, 06/01/2025(g)		1,592		1,250	10.00%, 11/30/2024(g)		1,962		2,104
7.13%, 03/15/2023(g)		1,505		944	Infor Software Parent LLC / Infor Software Parent
8.88%, 06/01/2025(g)		650		410	Inc
PriSo Acquisition Corp					7.13%, PIK 7.88%, 05/01/2021(g),(i),(j)		4,004		4,034
9.00%, 05/15/2023(g)		75		75	Infor US Inc
QVC Inc					5.75%, 08/15/2020(g)		216		219
4.85%, 04/01/2024		500		499	6.50%, 05/15/2022		2,087		2,124
5.45%, 08/15/2034		835		750	Informatica LLC
Rite Aid Corp					7.13%, 07/15/2023(g)		1,975		1,980
6.13%, 04/01/2023(g)		1,850		1,561	IQVIA Inc
Sally Holdings LLC / Sally Capital Inc					4.88%, 05/15/2023(g)		1,350		1,370
5.50%, 11/01/2023		50		50	5.00%, 10/15/2026(g)		4,562		4,568
5.63%, 12/01/2025		1,103		1,075	j2 Cloud Services LLC / j2 Global Co-Obligor Inc
Signet UK Finance PLC					6.00%, 07/15/2025(g)		2,134		2,140
4.70%, 06/15/2024		106		91	MSCI Inc
Sonic Automotive Inc					4.75%, 08/01/2026(g)		1,235		1,230
6.13%, 03/15/2027		801		699	5.25%, 11/15/2024(g)		2,160		2,198
SRS Distribution Inc					5.38%, 05/15/2027(g)		300		305
8.25%, 07/01/2026(g)		18,720		18,064	5.75%, 08/15/2025(g)		2,365		2,453
Staples Inc					Nuance Communications Inc
8.50%, 09/15/2025(g)		2,390		2,295	5.38%, 08/15/2020(g)		506		508
Suburban Propane Partners LP/Suburban Energy					5.63%, 12/15/2026		2,480		2,430
Finance Corp					6.00%, 07/01/2024		5,305		5,358
5.50%, 06/01/2024		1,073		1,054	Open Text Corp
5.88%, 03/01/2027		750		709	5.63%, 01/15/2023(g)		235		240
Yum! Brands Inc					5.88%, 06/01/2026(g)		5,339		5,513
3.75%, 11/01/2021		1,510		1,487	PTC Inc
3.88%, 11/01/2020		210		208	6.00%, 05/15/2024		550		570
3.88%, 11/01/2023		20		19	Rackspace Hosting Inc
6.88%, 11/15/2037		750		744	8.63%, 11/15/2024(g)		6,635		5,573
		$		78,956	Riverbed Technology Inc
Semiconductors - 0.33%					8.88%, 03/01/2023(g)		1,095		799
Advanced Micro Devices Inc					Solera LLC / Solera Finance Inc
7.00%, 07/01/2024		106		111	10.50%, 03/01/2024(g)		2,115		2,295
7.50%, 08/15/2022		2,700		2,929	Veritas US Inc / Veritas Bermuda Ltd
Entegris Inc					10.50%, 02/01/2024(g)		850		619
4.63%, 02/10/2026(g)		411		399			$		70,326
Micron Technology Inc					Storage & Warehousing - 0.02%
5.50%, 02/01/2025		1,150		1,166	Algeco Global Finance Plc
					8.00%, 02/15/2023(g)		600		584

See accompanying notes.

98

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)     Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Storage & Warehousing (continued)					Telecommunications (continued)
Mobile Mini Inc					Intelsat Luxembourg SA
5.88%, 07/01/2024	$	230	$	231	8.13%, 06/01/2023	$	2,930	$	2,437
		$		815	Iridium Communications Inc
Telecommunications - 6.60%					10.25%, 04/15/2023(g)		116		125
Anixter Inc					Koninklijke KPN NV
5.13%, 10/01/2021		500		508	7.00%, 03/28/2073(g),(l)		405		419
5.50%, 03/01/2023		511		521	USD Swap Semi-Annual 10 Year + 5.33%
C&W Senior Financing DAC					Level 3 Financing Inc
6.88%, 09/15/2027(g)		750		714	5.13%, 05/01/2023		3,402		3,372
CenturyLink Inc					5.25%, 03/15/2026		480		466
5.63%, 04/01/2020		1,110		1,120	5.38%, 08/15/2022		2,400		2,419
5.63%, 04/01/2025		2,400		2,172	5.38%, 01/15/2024		6,465		6,432
5.80%, 03/15/2022		1,215		1,218	5.38%, 05/01/2025		383		378
6.45%, 06/15/2021		1,300		1,323	5.63%, 02/01/2023		1,753		1,762
6.75%, 12/01/2023		455		458	Level 3 Parent LLC
6.88%, 01/15/2028		12,022		10,937	5.75%, 12/01/2022		864		864
7.50%, 04/01/2024		1,050		1,066	Nokia OYJ
7.60%, 09/15/2039		500		410	3.38%, 06/12/2022		520		512
7.65%, 03/15/2042		1,000		829	4.38%, 06/12/2027		495		479
Cincinnati Bell Inc					6.63%, 05/15/2039		716		745
7.00%, 07/15/2024(g)		904		777	Plantronics Inc
8.00%, 10/15/2025(g)		140		121	5.50%, 05/31/2023(g)		336		321
CommScope Inc					Qwest Capital Funding Inc
5.00%, 06/15/2021(g)		250		248	6.88%, 07/15/2028		379		318
5.50%, 06/15/2024(g)		752		703	7.75%, 02/15/2031		415		350
CommScope Technologies LLC					Qwest Corp
5.00%, 03/15/2027(g)		3,390		2,890	6.75%, 12/01/2021		705		753
6.00%, 06/15/2025(g)		7,783		7,336	6.88%, 09/15/2033		5,065		4,771
Consolidated Communications Inc					7.25%, 09/15/2025		1,458		1,539
6.50%, 10/01/2022		1,275		1,167	Sable International Finance Ltd
DKT Finance ApS					6.88%, 08/01/2022(g)		547		568
9.38%, 06/17/2023(g)		125		132	Sprint Capital Corp
Embarq Corp					6.88%, 11/15/2028		2,692		2,672
8.00%, 06/01/2036		5,222		4,935	8.75%, 03/15/2032		1,793		1,968
Frontier Communications Corp					Sprint Communications Inc
6.25%, 09/15/2021		10		7	6.00%, 11/15/2022		7,139		7,220
6.88%, 01/15/2025		1,300		686	7.00%, 03/01/2020(g)		414		426
7.13%, 01/15/2023		835		497	7.00%, 08/15/2020		1,739		1,804
7.63%, 04/15/2024		1,225		665	9.25%, 04/15/2022		300		347
7.88%, 01/15/2027		200		101	11.50%, 11/15/2021		1,159		1,343
8.50%, 04/01/2026(g)		1,950		1,769	Sprint Corp
8.75%, 04/15/2022		760		509	7.13%, 06/15/2024		14,003		14,327
9.00%, 08/15/2031		7,803		4,272	7.25%, 09/15/2021		3,188		3,347
11.00%, 09/15/2025		10,089		6,501	7.63%, 02/15/2025		2,632		2,751
10.50%, 09/15/2022		3,619		2,592	7.63%, 03/01/2026		6,505		6,757
Frontier Florida LLC					7.88%, 09/15/2023		9,400		9,988
6.86%, 02/01/2028		1,206		1,052	Telecom Italia Capital SA
Gogo Intermediate Holdings LLC / Gogo Finance					6.00%, 09/30/2034		2,149		1,871
Co Inc					6.38%, 11/15/2033		1,115		1,012
12.50%, 07/01/2022(g)		800		868	7.20%, 07/18/2036		1,532		1,479
GTT Communications Inc					7.72%, 06/04/2038		550		547
7.88%, 12/31/2024(g)		34,215		30,109	Telecom Italia SpA/Milano
Hughes Satellite Systems Corp					5.30%, 05/30/2024(g)		2,400		2,280
5.25%, 08/01/2026		1,054		1,009	Telefonaktiebolaget LM Ericsson
6.50%, 06/15/2019		1,928		1,948	4.13%, 05/15/2022		1,100		1,099
6.63%, 08/01/2026		1,060		1,020	Telesat Canada / Telesat LLC
7.63%, 06/15/2021		320		339	8.88%, 11/15/2024(g)		425		446
Inmarsat Finance PLC					T-Mobile USA Inc
4.88%, 05/15/2022(g)		1,500		1,451	4.50%, 02/01/2026		3,000		2,925
Intelsat Connect Finance SA					4.75%, 02/01/2028		2,400		2,301
9.50%, 02/15/2023(g)		1,700		1,590	5.13%, 04/15/2025		500		505
Intelsat Jackson Holdings SA					5.38%, 04/15/2027		519		523
5.50%, 08/01/2023		13,315		12,117	6.00%, 03/01/2023		3,662		3,754
8.00%, 02/15/2024(g)		1,565		1,630	6.00%, 04/15/2024		7,097		7,275
8.50%, 10/15/2024(g)		3,970		4,010	6.38%, 03/01/2025		2,742		2,845
9.50%, 09/30/2022(g)		400		465	6.50%, 01/15/2024		312		323
9.75%, 07/15/2025(g)		1,700		1,770	6.50%, 01/15/2026		3,650		3,860

See accompanying notes.

99

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
		Principal			SENIOR FLOATING RATE INTERESTS		Principal
BONDS (continued)	Amount (000’s)           Value (000’s)				- 13.56%	Amount (000's)    Value (000's)
Telecommunications (continued)					Aerospace & Defense - 0.00%
Trilogy International Partners LLC / Trilogy					Jazz Acquisition Inc
International Finance Inc					9.55%, 06/19/2022(m)	$	170	$	158
8.88%, 05/01/2022(g)	$	100	$	96	US LIBOR + 6.75%
United States Cellular Corp					Automobile Parts & Equipment - 0.70%
6.70%, 12/15/2033		300		309	Dexko Global Inc
ViaSat Inc					11.05%, 07/24/2025(m)		10,412		10,360
5.63%, 09/15/2025(g)		4,690		4,408	US LIBOR + 8.25%
Wind Tre SpA					Truck Hero Inc
5.00%, 01/20/2026(g)		4,120		3,389	10.75%, 05/16/2025(m)		15,632		15,436
Windstream Services LLC / Windstream Finance					US LIBOR + 8.25%
Corp							$		25,796
6.38%, 08/01/2023(g)		241		116	Chemicals - 0.10%
8.63%, 10/31/2025(g)		710		669	PQ Corp
9.00%, 06/30/2025(g)		219		164	5.03%, 02/08/2025(m)		1,422		1,383
10.50%, 06/30/2024(g)		300		249	US LIBOR + 2.50%
WTT Investment Ltd/Hong Kong					Starfruit US Holdco LLC
5.50%, 11/21/2022(g)		650		639	5.75%, 10/01/2025(m)		2,150		2,101
		$		241,626	US LIBOR + 3.25%
Toys, Games & Hobbies - 0.13%							$		3,484
Mattel Inc					Commercial Services - 1.03%
2.35%, 08/15/2021		1,000		927	KUEHG Corp
3.15%, 03/15/2023		1,000		870	11.05%, 08/22/2025(m)		8,306		8,223
4.35%, 10/01/2020		365		359	Learning Care Group US No 2 Inc
5.45%, 11/01/2041		214		159	10.02%, 03/13/2026(m)		3,400		3,357
6.20%, 10/01/2040		150		117	US LIBOR + 7.50%
6.75%, 12/31/2025(g)		2,650		2,504	Refinitiv US Holdings Inc
		$		4,936	6.27%, 09/18/2025(m)		20,430		19,600
Transportation - 0.10%					US LIBOR + 3.75%
Hornbeck Offshore Services Inc					RR Donnelley & Sons Co
5.88%, 04/01/2020		270		167	7.51%, 01/04/2024(m)		1,825		1,802
Navios Maritime Acquisition Corp / Navios					US LIBOR + 5.00%
Acquisition Finance US Inc					ServiceMaster Co LLC/The
8.13%, 11/15/2021(g)		200		151	5.02%, 11/08/2023(m)		854		849
Neovia Logistics Services LLC / SPL Logistics					US LIBOR + 2.50%
Finance Corp					Team Health Holdings Inc
8.88%, 08/01/2020(g)		125		109	5.27%, 02/06/2024(m)		4,135		3,711
Teekay Offshore Partners LP/Teekay Offshore					US LIBOR + 2.75%
Finance Corp							$		37,542
8.50%, 07/15/2023(g)		775		744	Computers - 0.91%
Watco Cos LLC / Watco Finance Corp					CDW LLC
6.38%, 04/01/2023(g)		270		271	4.28%, 08/17/2023(m)		1,012		1,007
XPO CNW Inc					US LIBOR + 1.75%
6.70%, 05/01/2034		347		316	Dell International LLC
XPO Logistics Inc					4.51%, 09/07/2023(m)		1,382		1,361
6.13%, 09/01/2023(g)		620		630	US LIBOR + 2.00%
6.50%, 06/15/2022(g)		1,389		1,419	Optiv Security Inc
		$		3,807	5.77%, 02/01/2024(m)		1,940		1,794
Trucking & Leasing - 0.72%					US LIBOR + 3.25%
AerCap Global Aviation Trust					9.77%, 01/13/2025(m)		5,820		5,354
6.50%, 06/15/2045(g),(l)		400		388	US LIBOR + 7.25%
3 Month USD LIBOR + 4.30%					Peak 10 Holding Corp
Avolon Holdings Funding Ltd					9.79%, 07/24/2025(m)		15,795		13,643
5.13%, 10/01/2023(g)		3,455		3,507	US LIBOR + 7.25%
Fly Leasing Ltd					Presidio LLC
5.25%, 10/15/2024		1,000		930	5.54%, 02/02/2024(m)		1,740		1,718
Fortress Transportation & Infrastructure Investors					US LIBOR + 2.75%
LLC					TierPoint LLC
6.50%, 10/01/2025(g)		500		480	9.77%, 05/05/2025(m)		8,835		8,332
6.75%, 03/15/2022(g)		1,250		1,254	US LIBOR + 7.25%
Park Aerospace Holdings Ltd							$		33,209
4.50%, 03/15/2023(g)		1,832		1,798	Cosmetics & Personal Care - 0.12%
5.25%, 08/15/2022(g)		11,768		11,948	Wellness Merger Sub Inc
5.50%, 02/15/2024(g)		5,802		5,889	11.56%, 06/27/2025(m)		4,330		4,335
		$		26,194
TOTAL BONDS		$		3,017,649

See accompanying notes.

100

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
SENIOR FLOATING RATE INTERESTS		Principal			SENIOR FLOATING RATE INTERESTS		Principal
(continued)	Amount (000’s)    Value (000’s)				(continued)	Amount (000’s) Value (000’s)
Distribution & Wholesale - 0.10%					Insurance - 1.38%
American Tire Distributors Inc					Asurion LLC
8.50%, 09/01/2023(m)	$	2,297	$	2,210	9.02%, 08/04/2025(m)	$	48,215	$	48,456
US LIBOR + 6.00%					US LIBOR + 6.50%
10.02%, 08/30/2024(m)		1,531		1,358	Sedgwick Claims Management Services Inc
US LIBOR + 7.50%					5.77%, 11/06/2025(m)		1,990		1,937
		$		3,568	US LIBOR + 3.25%
Electric - 0.07%							$		50,393
Calpine Corp					Investment Companies - 0.21%
5.31%, 01/15/2023(m)		2,003		1,968	Masergy Holdings Inc
US LIBOR + 2.50%					10.31%, 12/16/2024(m)		5,393		5,258
Vistra Operations Co LLC					US LIBOR + 7.50%
4.75%, 12/14/2023(m)		738		730	Zest Acquisition Corp
US LIBOR + 2.25%					10.02%, 03/06/2026(m)		2,580		2,451
		$		2,698	US LIBOR + 7.50%
Electronics - 0.31%							$		7,709
Deliver Buyer Inc					Lodging - 0.61%
7.71%, 05/01/2024(m)		11,552		11,436	Boyd Gaming Corp
US LIBOR + 5.00%					4.66%, 09/15/2023(m)		1,774		1,749
Entertainment - 0.24%					US LIBOR + 2.25%
Crown Finance US Inc					Parq Holdings LP
5.02%, 02/07/2025(m)		2,284		2,226	10.06%, 12/17/2020(m)		20,918		20,761
US LIBOR + 2.50%					US LIBOR + 7.50%
Mohegan Gaming & Entertainment							$		22,510
6.52%, 09/30/2023(m)		2,134		1,976	Machinery - Diversified - 0.50%
US LIBOR + 4.00%					Engineered Machinery Holdings Inc
SeaWorld Parks & Entertainment Inc					10.05%, 07/25/2025(m)		16,681		16,250
5.52%, 04/01/2024(m)		4,570		4,476	US LIBOR + 7.25%
US LIBOR + 3.00%					Welbilt Inc
		$		8,678	5.02%, 10/23/2025(m)		2,123		2,073
Environmental Control - 0.02%					US LIBOR + 2.50%
Advanced Disposal Services Inc							$		18,323
4.66%, 11/10/2023(m)		890		879	Media - 0.19%
US LIBOR + 2.25%					Altice France SA/France
Healthcare - Products - 0.05%					6.51%, 08/14/2026(m)		4,494		4,232
Mallinckrodt International Finance SA					US LIBOR + 4.00%
5.55%, 09/24/2024(m)		1,745		1,621	CSC Holdings LLC
US LIBOR + 2.75%					4.76%, 01/10/2026(m)		2,045		1,962
5.62%, 02/24/2025(m)		327		306	US LIBOR + 2.25%
US LIBOR + 3.00%					Univision Communications Inc
		$		1,927	5.27%, 03/15/2024(m)		1,007		936
Healthcare - Services - 2.56%					US LIBOR + 2.75%
Aveanna Healthcare LLC							$		7,130
8.02%, 03/18/2024(m)		5,470		5,415	Metal Fabrication & Hardware - 0.48%
US LIBOR + 5.50%					Crosby US Acquisition Corp
10.52%, 03/16/2025(m)		6,940		6,667	5.50%, 11/23/2020(m)		18,860		17,446
US LIBOR + 8.00%					US LIBOR + 3.00%
Dentalcorp Perfect Smile ULC					Miscellaneous Manufacturers - 0.78%
10.02%, 06/08/2026(m)		1,199		1,168	UTEX Industries Inc
US LIBOR + 7.50%					6.54%, 05/21/2021(m)		10,756		10,124
10.02%, 06/01/2026(m)		6,451		6,290	US LIBOR + 4.00%
US LIBOR + 7.50%					9.77%, 05/22/2022(m)		20,650		18,559
MPH Acquisition Holdings LLC					US LIBOR + 7.25%
5.55%, 05/25/2023(m)		2,495		2,411			$		28,683
US LIBOR + 3.00%					Packaging & Containers - 0.27%
One Call Corp					Berlin Packaging LLC
7.76%, 11/27/2022(m)		34,753		30,648	5.54%, 11/07/2025(m)		6,546		6,284
US LIBOR + 5.25%					US LIBOR + 3.00%
RegionalCare Hospital Partners Holdings Inc					BWAY Holding Co
7.13%, 11/14/2025(m)		790		770	6.03%, 04/03/2024(m)		1,656		1,595
US LIBOR + 4.50%					US LIBOR + 3.25%
US Renal Care Inc					Reynolds Group Holdings Inc
7.05%, 12/30/2022(m)		23,299		22,739	5.26%, 02/05/2023(m)		2,013		1,982
US LIBOR + 4.25%					US LIBOR + 2.75%
10.80%, 11/17/2023(m)		18,185		17,458			$		9,861
US LIBOR + 8.00%
		$		93,566

See accompanying notes.

101

Schedule of Investments High Yield Fund I

January 31, 2019 (unaudited)

SENIOR FLOATING RATE INTERESTS		Principal			(a)	Non-income producing security
(continued)	Amount (000’s)    Value (000’s)				(b)	The value of these investments was determined using significant unobservable
Pharmaceuticals - 0.99%						inputs.
Lanai Holdings III Inc					(c)	Fair value of these investments is determined in good faith by the Manager
7.28%, 08/29/2022(m)	$	13,548	$	12,871		under procedures established and periodically reviewed by the Board of
US LIBOR + 4.75%						Directors. Certain inputs used in the valuation may be unobservable; however,
11.03%, 08/14/2023(m)		5,170		4,653		each security is evaluated individually for purposes of ASC 820 which results
US LIBOR + 8.50%						in not all securities being identified as Level 3 of the fair value hierarchy.
Packaging Coordinators Midco Inc						At the end of the period, the fair value of these securities totaled $22,516 or
11.56%, 06/29/2024(m)		5,740		5,711		0.62% of net assets.
US LIBOR + 8.75%					(d)	Restricted Security. Please see Restricted Security Sub-Schedule for more
PharMerica Corp						information.
10.26%, 12/07/2025(m)		10,155		10,053	(e)	Affiliated Security. Security is either an affiliate (and registered under the
US LIBOR + 7.75%						Investment Company Act of 1940) or an affiliate as defined by the Investment
Valeant Pharmaceuticals International						Company Act of 1940 (controls 5.0% or more of the outstanding voting
0.00%, 11/14/2025(m),(n)		2,000		1,971		shares of the security). Please see affiliated sub-schedule for transactional
US LIBOR + 2.75%						information.
5.49%, 05/19/2025(m)		821		811	(f)	Current yield shown is as of period end.
US LIBOR + 3.00%					(g)	Security exempt from registration under Rule 144A of the Securities Act of
		$		36,070		1933. These securities may be resold in transactions exempt from registration,
Real Estate - 0.03%						normally to qualified institutional buyers. At the end of the period, the value of
Realogy Group LLC						these securities totaled $1,667,369 or 45.56% of net assets.
4.76%, 02/08/2025(m)		1,107		1,077	(h)	Security purchased on a when-issued basis.
US LIBOR + 2.25%					(i)	Certain variable rate securities are not based on a published reference rate
REITs - 0.14%						and spread but are determined by the issuer or agent and are based on current
Iron Mountain Inc						market conditions.  These securities do not indicate a reference rate and
4.27%, 01/02/2026(m)		5,187		5,019		spread in their description. Rate shown is the rate in effect as of period end.
US LIBOR + 1.75%					(j)	Payment in kind; the issuer has the option of paying additional securities in
Retail - 0.10%						lieu of cash.
1011778 BC ULC					(k)	Perpetual security. Perpetual securities pay an indefinite stream of interest,
4.76%, 02/16/2024(m)		2,494		2,450		but they may be called by the issuer at an earlier date. Date shown, if any,
US LIBOR + 2.25%						reflects the next call date or final legal maturity date. Rate shown is as of
Bass Pro Group LLC						period end.
7.52%, 09/25/2024(m)		1,321		1,305	(l)	Rate shown is as of period end. The rate may be a variable or floating rate or
US LIBOR + 5.00%						a fixed rate which may convert to a variable or floating rate in the future.
		$		3,755	(m)	Rate information disclosed is based on an average weighted rate of the
						underlying tranches as of period end.
Software - 1.50%					(n)	This Senior Floating Rate Note will settle after January 31, 2019, at which
Evergreen Skills Lux Sarl						time the interest rate will be determined.
7.27%, 04/23/2021(m)		24,670		20,062
US LIBOR + 4.75%
10.77%, 04/28/2022(m)		14,447		7,397		Portfolio Summary  (unaudited)
US LIBOR + 8.25%					Sector		Percent
First Data Corp					Consumer, Non-cyclical		19.70	%
4.52%, 07/08/2022(m)		4,147		4,129	Communications		15.04	%
US LIBOR + 2.00%					Financial		12.23	%
MH Sub I LLC					Consumer, Cyclical		11.95	%
10.02%, 09/15/2025(m)		19,719		18,930	Industrial		11.26	%
US LIBOR + 7.50%					Energy		11.11	%
SS&C European Holdings Sarl					Technology		6.19	%
4.78%, 02/28/2025(m)		890		872	Basic Materials		5.90	%
US LIBOR + 2.25%					Investment Companies		3.34	%
SS&C Technologies Inc					Utilities		2.33	%
4.76%, 04/16/2025(m)		1,217		1,193	Diversified		0.36	%
US LIBOR + 2.25%					Other Assets and Liabilities		0.59	%
4.80%, 02/28/2025(m)		2,310		2,261	TOTAL NET ASSETS		100.00	%
US LIBOR + 2.25%
		$		54,844
Telecommunications - 0.17%
CenturyLink Inc
5.26%, 01/31/2025(m)		4,356		4,159
US LIBOR + 2.75%
Intelsat Jackson Holdings SA
6.25%, 11/27/2023(m)		2,010		1,990
US LIBOR + 3.75%
		$		6,149
TOTAL SENIOR FLOATING RATE INTERESTS		$		496,245
Total Investments		$		3,638,384
Other Assets and Liabilities -  0.59%				21,575
TOTAL NET ASSETS - 100.00%		$		3,659,959

See accompanying notes.

102

Schedule of Investments
High Yield Fund I
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018		Purchases			Sales		January 31, 2019
		Value			Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	218,558		$	449,468	$	545,866	$		122,160
	$	218,558		$	449,468	$	545,866	$		122,160
				Realized Gain/Loss			Realized Gain from		Change in Unrealized
		Income		on Investments	Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	649	$	— $			— $		—
	$	649	$	— $			— $		—

Amounts in thousands
Restricted Securities
Security Name				Acquisition Date						Cost			Value	Percent of Net Assets
General Motors Co - 0.00%, 7/15/2023				01/31/2013	$					— $			—		0.00	%
General Motors Co - 0.00%, 12/1/2020				04/11/2013						—			—		0.00	%
General Motors Co - 0.00%, 3/15/2036				01/31/2013						—			—		0.00	%
General Motors Co - 0.00%, 7/15/2033				01/31/2013						—			—		0.00	%
General Motors Co - 0.00%, 5/1/2028				01/31/2013						—			—		0.00	%
General Motors Co - 0.00%, 12/1/2020				04/11/2013						—			—		0.00	%
General Motors Co - 0.00%, 9/1/2025				01/31/2013						—			—		0.00	%
General Motors Co - 0.00%, 3/6/2032				04/11/2013						—			—		0.00	%
General Motors Co - 0.00%, 7/15/2033				04/11/2013						—			—		0.00	%
Neebo, Inc - Warrants				07/05/2012						—			—		0.00	%
Neebo, Inc - Warrants				07/05/2012						—			—		0.00	%
Real Alloy Holding Inc - 12.39%, 11/30/2023				05/31/2018				4,830					4,830		0.13	%
SportsNet New York - 10.25%, 1/15/2025				12/27/2017				4,068					4,337		0.12	%
Total										$			9,167		0.25	%
Amounts in thousands.
Exchange Cleared Credit Default Swaps
Sell Protection
	Implied Credit
	Spread as of		(Pay)/							Upfront	Unrealized
	January 31,	Receive Fixed		Payment	Notional			Payments/					Appreciation/
Reference Entity	2019	(a)	Rate	Frequency	Maturity Date		Amount (b)	(Receipts)					(Depreciation)		Fair Value (c)
CDX.NA.HY.31	N/A		5.00%	Quarterly	12/20/2023	$	78,890		$	4,452		$	257	$	4,709
Total								$		4,452		$	257	$	4,709
Amounts in thousands.

(a) Implied credit spreads, represented in absolute terms, used in determining the market value of credit default swap agreements on corporate issues or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

(b) The maximum potential payment amount that the seller of credit protection could be required to make if a credit event occurs as defined under the terms of that particular swap agreement is $78,890.

(c) The market price and resulting market value for credit default swap agreements on an issuer serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit default swap as of the period end. Increasing market values, in absolute terms, when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

See accompanying notes.

103

Schedule of Investments
Income Fund
January 31, 2019 (unaudited)
COMMON STOCKS - 1.31%		Shares Held    Value (000's)					Principal
Diversified Financial Services - 0.00%					BONDS (continued)	Amount (000’s) Value (000’s)
Adelphia Recovery Trust (a),(b),(c)		658,740	$	—	Banks (continued)
Electric - 0.11%					Morgan Stanley
GenOn Energy - Class A (a),(b)		23,170		3,244	2.65%, 01/27/2020	$	5,000	$	4,984
Oil & Gas - 0.23%					3.95%, 04/23/2027		10,000		9,758
Riviera Resources Inc/Linn (a)		258,490		3,968	4.00%, 07/23/2025		5,000		5,121
Roan Resources Inc (a)		258,490		2,776	4.88%, 11/01/2022		2,000		2,095
		$		6,744	5.50%, 07/28/2021		5,000		5,285
Transportation - 0.97%					PNC Bank NA
Trailer Bridge Inc (a),(b),(c),(d)		152,807		28,144	2.95%, 02/23/2025		10,000		9,806
TOTAL COMMON STOCKS		$		38,132	3.10%, 10/25/2027		4,750		4,626
INVESTMENT COMPANIES - 0.94%		Shares Held    Value (000's)			PNC Financial Services Group Inc/The
					6.75%, 07/29/2049(h),(i)		18,000		18,855
Money Market Funds - 0.94%					3 Month USD LIBOR + 3.68%
Principal Government Money Market Fund		27,482,387		27,482	SunTrust Bank/Atlanta GA
2.32%(e),(f)					2.75%, 05/01/2023		15,000		14,612
TOTAL INVESTMENT COMPANIES		$		27,482	3.30%, 05/15/2026		5,000		4,816
		Principal			SunTrust Banks Inc
BONDS - 63.64%	Amount (000's) Value (000's)				2.70%, 01/27/2022		9,000		8,846
Airlines - 0.27%					US Bancorp
United Airlines 2013-1 Class A Pass Through					2.95%, 07/15/2022		5,000		4,981
Trust					3.00%, 03/15/2022		2,000		1,995
4.30%, 02/15/2027	$	7,728	$	7,875	3.60%, 09/11/2024		9,500		9,656
Apparel - 0.43%					4.13%, 05/24/2021		3,000		3,074
Under Armour Inc					US Bank NA/Cincinnati OH
3.25%, 06/15/2026		14,250		12,610	2.80%, 01/27/2025		5,000		4,877
Automobile Floor Plan Asset Backed Securities - 1.24%					Wells Fargo & Co
Ally Master Owner Trust					3.07%, 01/24/2023		16,000		15,913
2.94%, 06/15/2022		15,000		15,029	6.56%, 12/31/2049(i)		15,000		15,075
1.00 x 1 Month USD LIBOR + 0.43%					3 Month USD LIBOR + 3.77%
Ford Credit Floorplan Master Owner Trust A							$		297,985
3.41%, 02/15/2021		15,000		15,003	Beverages - 1.29%
1.00 x 1 Month USD LIBOR + 0.90%					Anheuser-Busch Cos LLC / Anheuser-Busch
Navistar Financial Dealer Note Master Owner					InBev Worldwide Inc
Trust II					3.65%, 02/01/2026(g)		7,500		7,369
3.14%, 09/25/2023(g)		6,000		5,998	4.70%, 02/01/2036(g)		11,500		11,051
1.00 x 1 Month USD LIBOR + 0.63%					Anheuser-Busch InBev Worldwide Inc
		$		36,030	2.50%, 07/15/2022		9,000		8,770
Automobile Manufacturers - 0.50%					4.90%, 01/23/2031		10,000		10,413
American Honda Finance Corp							$		37,603
2.30%, 09/09/2026		4,750		4,380	Biotechnology - 2.22%
3.80%, 09/20/2021(g)		10,000		10,125	Amgen Inc
		$		14,505	3.63%, 05/15/2022		4,500		4,571
Banks - 10.23%					3.88%, 11/15/2021		13,000		13,247
Bank of America Corp					Celgene Corp
2.88%, 04/24/2023(h)		15,000		14,818	3.45%, 11/15/2027		5,000		4,780
3 Month USD LIBOR + 1.02%					3.90%, 02/20/2028		10,000		9,912
3.88%, 08/01/2025		7,000		7,137	Gilead Sciences Inc
6.75%, 06/01/2028		2,000		2,396	3.50%, 02/01/2025		4,750		4,771
Bank of New York Mellon Corp/The					3.65%, 03/01/2026		18,000		18,047
2.20%, 08/16/2023		9,500		9,164	4.40%, 12/01/2021		9,000		9,294
2.60%, 08/17/2020		9,500		9,462			$		64,622
2.80%, 05/04/2026		4,500		4,321	Chemicals - 0.90%
3.00%, 10/30/2028		7,000		6,607	Airgas Inc
Citigroup Inc					2.38%, 02/15/2020		7,000		6,951
3.88%, 03/26/2025		20,000		19,895	3.65%, 07/15/2024		6,750		6,854
4.45%, 09/29/2027		8,000		8,117	OCI NV
4.50%, 01/14/2022		4,000		4,159	6.63%, 04/15/2023(g)		1,600		1,644
Cullen/Frost Bankers Inc					Westlake Chemical Corp
4.50%, 03/17/2027		11,000		10,790	3.60%, 08/15/2026		11,500		10,771
Goldman Sachs Group Inc/The							$		26,220
3.50%, 11/16/2026		9,000		8,671	Commercial Services - 0.57%
3.63%, 01/22/2023		4,000		4,049	ERAC USA Finance LLC
5.25%, 07/27/2021		13,000		13,633	3.30%, 10/15/2022(g)		2,000		1,973
JPMorgan Chase & Co					4.50%, 08/16/2021(g)		6,000		6,138
3.25%, 09/23/2022		5,000		5,040	7.00%, 10/15/2037(g)		7,000		8,651
3.63%, 05/13/2024		15,000		15,200			$		16,762
3.90%, 07/15/2025		5,000		5,100
6.22%, 04/29/2049(i)		5,021		5,051
3 Month USD LIBOR + 3.47%

See accompanying notes.

104

     Schedule of Investments Income Fund January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s) Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Computers - 0.78%					Electronics - 0.65%
Apple Inc					Corning Inc
2.40%, 05/03/2023	$	13,000	$	12,796	2.90%, 05/15/2022	$	5,000	$	4,909
3.25%, 02/23/2026		10,000		10,001	4.25%, 08/15/2020		10,000		10,151
		$		22,797	4.75%, 03/15/2042		4,000		3,806
Credit Card Asset Backed Securities - 0.28%							$		18,866
Cabela's Credit Card Master Note Trust					Environmental Control - 1.36%
3.18%, 07/17/2023		8,000		8,037	Advanced Disposal Services Inc
1.00 x 1 Month USD LIBOR + 0.67%					5.63%, 11/15/2024(g)		11,500		11,529
Diversified Financial Services - 0.73%					Republic Services Inc
Jefferies Group LLC					3.20%, 03/15/2025		10,000		9,815
5.13%, 01/20/2023		1,500		1,556	3.55%, 06/01/2022		6,000		6,091
6.25%, 01/15/2036		9,000		8,833	5.00%, 03/01/2020		12,000		12,265
8.50%, 07/15/2019		4,000		4,092			$		39,700
Jefferies Group LLC / Jefferies Group Capital					Food - 0.67%
Finance Inc					Kraft Heinz Foods Co
4.15%, 01/23/2030		6,000		5,260	3.50%, 07/15/2022		5,000		5,005
4.85%, 01/15/2027		1,750		1,682	3.95%, 07/15/2025		14,500		14,490
		$		21,423			$		19,495
Electric - 7.74%					Gas - 0.07%
Black Hills Corp					NiSource Inc
3.15%, 01/15/2027		7,500		6,978	3.85%, 02/15/2023		2,000		2,023
4.35%, 05/01/2033		7,500		7,357	Healthcare - Services - 2.62%
Entergy Louisiana LLC					Encompass Health Corp
3.25%, 04/01/2028		8,000		7,731	5.75%, 11/01/2024		7,000		7,079
4.20%, 09/01/2048		5,500		5,516	5.75%, 09/15/2025		1,000		1,010
Entergy Texas Inc					HCA Inc
2.55%, 06/01/2021		14,500		14,266	5.63%, 09/01/2028		2,000		2,068
GenOn Energy Inc - Escrow					5.88%, 05/01/2023		4,500		4,759
0.00%, 10/15/2020(a),(b),(c)		8,550		—	7.50%, 02/15/2022		3,000		3,285
GenOn Energy Inc / NRG Americas Inc					7.50%, 11/06/2033		1,700		1,878
9.39%, 12/01/2023		1,854		1,840	Roche Holdings Inc
3 Month USD LIBOR + 6.50%					3.14%, 09/30/2019(g)		26,000		26,023
LG&E & KU Energy LLC					3 Month USD LIBOR + 0.34%
3.75%, 11/15/2020		5,000		5,028	Surgery Center Holdings Inc
4.38%, 10/01/2021		5,000		5,097	6.75%, 07/01/2025(g)		3,000		2,775
Louisville Gas & Electric Co					8.88%, 04/15/2021(g)		27,000		27,540
3.30%, 10/01/2025		3,000		2,987			$		76,417
Metropolitan Edison Co					Housewares - 0.35%
3.50%, 03/15/2023(g)		9,000		8,961	Newell Brands Inc
4.30%, 01/15/2029(g)		7,000		7,123	3.85%, 04/01/2023		6,000		5,901
Monongahela Power Co					4.20%, 04/01/2026		4,500		4,324
3.55%, 05/15/2027(g)		5,000		4,920			$		10,225
Oncor Electric Delivery Co LLC					Insurance - 2.40%
2.95%, 04/01/2025		4,000		3,907	Berkshire Hathaway Inc
4.10%, 11/15/2048		5,000		5,000	3.00%, 02/11/2023		5,000		5,036
5.75%, 03/15/2029		17,000		19,829	3.75%, 08/15/2021		5,000		5,110
PacifiCorp					Fidelity National Financial Inc
5.25%, 06/15/2035		5,000		5,533	4.50%, 08/15/2028(g)		14,000		13,908
6.25%, 10/15/2037		2,000		2,467	5.50%, 09/01/2022		5,000		5,303
Solar Star Funding LLC					First American Financial Corp
3.95%, 06/30/2035(g)		6,350		6,135	4.30%, 02/01/2023		20,000		20,127
5.38%, 06/30/2035(g)		20,797		22,347	4.60%, 11/15/2024		5,000		5,078
Southwestern Electric Power Co					Prudential Financial Inc
2.75%, 10/01/2026		10,000		9,275	3.88%, 03/27/2028		7,000		7,166
3.55%, 02/15/2022		12,000		12,007	4.50%, 11/16/2021		2,000		2,072
3.85%, 02/01/2048		7,000		6,233	5.38%, 06/21/2020		2,000		2,064
Talen Energy Supply LLC					7.38%, 06/15/2019		4,000		4,061
4.60%, 12/15/2021		11,750		10,751			$		69,925
TransAlta Corp
4.50%, 11/15/2022		18,000		17,826	Internet - 0.49%
Tucson Electric Power Co					Amazon.com Inc
3.05%, 03/15/2025		2,000		1,926	4.05%, 08/22/2047		14,000		14,257
3.85%, 03/15/2023		14,000		14,167	Iron & Steel - 0.90%
4.85%, 12/01/2048		7,000		7,377	Allegheny Technologies Inc
5.15%, 11/15/2021		3,000		3,119	5.95%, 01/15/2021		11,000		11,149
		$		225,703	7.88%, 08/15/2023		14,250		15,194
							$		26,343

See accompanying notes.

105

Schedule of Investments
Income Fund
January 31, 2019 (unaudited)
		Principal					Principal
BONDS (continued)	Amount (000’s)       Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Media - 2.22%					Other Asset Backed Securities (continued)
21st Century Fox America Inc					Drug Royalty III LP 1   (continued)
4.50%, 02/15/2021	$	5,000	$	5,125	5.29%, 04/15/2027(g)	$	2,341	$	2,364
6.40%, 12/15/2035		8,000		10,163	1.00 x 3 Month USD LIBOR + 2.50%
Comcast Corp					PFS Financing Corp
2.85%, 01/15/2023		10,000		9,926	3.09%, 03/15/2021(g)		16,000		15,992
3.13%, 07/15/2022		2,000		2,007	1.00 x 1 Month USD LIBOR + 0.58%
3.30%, 02/01/2027		10,000		9,795	Trafigura Securitisation Finance PLC 2017-1
4.25%, 10/15/2030		4,500		4,664	3.36%, 12/15/2020(g)		16,000		16,077
5.15%, 03/01/2020		2,000		2,049	1.00 x 1 Month USD LIBOR + 0.85%
Time Warner Cable LLC					Verizon Owner Trust 2017-3
6.55%, 05/01/2037		6,000		6,305	2.78%, 04/20/2022(g)		12,500		12,500
6.75%, 06/15/2039		5,500		5,925	1.00 x 1 Month USD LIBOR + 0.27%
7.30%, 07/01/2038		7,750		8,626			$		62,153
		$		64,585	Packaging & Containers - 0.28%
Miscellaneous Manufacturers - 0.06%					Sealed Air Corp
General Electric Co					5.50%, 09/15/2025(g)		2,000		2,045
3.79%, 03/15/2023		2,000		1,889	6.88%, 07/15/2033(g)		6,000		6,060
3 Month USD LIBOR + 1.00%							$		8,105
Oil & Gas - 4.63%					Pharmaceuticals - 0.47%
BP Capital Markets America Inc					AbbVie Inc
3.12%, 05/04/2026		7,000		6,812	2.90%, 11/06/2022		13,750		13,577
3.94%, 09/21/2028		7,000		7,170	Pipelines - 3.39%
BP Capital Markets PLC					Buckeye Partners LP
2.50%, 11/06/2022		3,000		2,933	3.95%, 12/01/2026		10,000		9,049
4.75%, 03/10/2019		14,000		14,030	4.15%, 07/01/2023		10,000		9,874
Canadian Natural Resources Ltd					4.35%, 10/15/2024		7,500		7,416
3.80%, 04/15/2024		7,000		7,033	Columbia Pipeline Group Inc
Helmerich & Payne Inc					4.50%, 06/01/2025		11,000		11,216
4.65%, 03/15/2025(g)		7,000		7,209	El Paso Natural Gas Co LLC
Marathon Petroleum Corp					7.50%, 11/15/2026		9,500		11,233
5.38%, 10/01/2022(g)		8,750		8,802	NGPL PipeCo LLC
Nabors Industries Inc					4.88%, 08/15/2027(g)		500		495
5.00%, 09/15/2020		14,000		13,790	Plains All American Pipeline LP / PAA Finance
5.10%, 09/15/2023		5,000		4,338	Corp
5.50%, 01/15/2023		9,000		8,100	4.50%, 12/15/2026		13,000		12,884
Petro-Canada					Southeast Supply Header LLC
9.25%, 10/15/2021		8,500		9,684	4.25%, 06/15/2024(g)		14,000		14,064
Phillips 66					Southern Natural Gas Co LLC
4.30%, 04/01/2022		9,000		9,327	8.00%, 03/01/2032		4,000		5,185
Rowan Cos Inc					Tennessee Gas Pipeline Co LLC
4.88%, 06/01/2022		8,000		7,084	8.38%, 06/15/2032		2,000		2,523
Suncor Energy Inc					TransCanada PipeLines Ltd
4.00%, 11/15/2047		4,500		4,170	6.10%, 06/01/2040		5,000		5,808
W&T Offshore Inc					7.25%, 08/15/2038		7,000		8,967
9.75%, 11/01/2023(g)		6,500		6,321			$		98,714
Whiting Petroleum Corp					REITs - 7.77%
5.75%, 03/15/2021		18,000		18,000	Alexandria Real Estate Equities Inc
		$		134,803	4.30%, 01/15/2026		9,000		9,060
Oil & Gas Services - 2.10%					4.60%, 04/01/2022		20,500		21,157
Archrock Partners LP / Archrock Partners Finance					CBL & Associates LP
Corp					5.95%, 12/15/2026		13,250		10,534
6.00%, 04/01/2021		24,000		23,670	CubeSmart LP
Schlumberger Holdings Corp					4.00%, 11/15/2025		5,000		4,975
3.63%, 12/21/2022(g)		6,500		6,536	4.38%, 12/15/2023		8,000		8,229
4.00%, 12/21/2025(g)		9,500		9,641	4.38%, 02/15/2029		2,000		2,003
Weatherford International Ltd					4.80%, 07/15/2022		15,000		15,538
4.50%, 04/15/2022		16,500		10,478	Duke Realty LP
5.13%, 09/15/2020		14,000		10,780	3.25%, 06/30/2026		5,000		4,803
		$		61,105	3.88%, 10/15/2022		3,000		3,030
Other Asset Backed Securities - 2.13%					4.38%, 06/15/2022		4,000		4,132
Drug Royalty II LP 2					HCP Inc
3.48%, 07/15/2023(g)		2,589		2,580	2.63%, 02/01/2020		5,000		4,976
Drug Royalty III LP 1					Healthcare Realty Trust Inc
3.60%, 04/15/2027(g)		2,634		2,612	3.88%, 05/01/2025		5,000		4,913
3.98%, 04/15/2027(g)		2,228		2,230	Hospitality Properties Trust
4.27%, 10/15/2031(g)		4,364		4,404	4.50%, 06/15/2023		5,000		4,990
4.39%, 10/15/2031(g)		3,394		3,394	4.65%, 03/15/2024		5,000		4,978
1.00 x 3 Month USD LIBOR + 1.60%					4.95%, 02/15/2027		5,000		4,844

See accompanying notes.

106

Schedule of Investments
Income Fund
January 31, 2019 (unaudited)
		Principal			U.S. GOVERNMENT & GOVERNMENT		Principal
BONDS (continued)	Amount (000’s)    Value (000’s)				AGENCY OBLIGATIONS (continued)	Amount (000’s) Value (000’s)
REITs (continued)					Federal Home Loan Mortgage Corporation (FHLMC) (continued)
Hospitality Properties Trust   (continued)					3.00%, 06/01/2043	$	11,731	$	11,581
5.00%, 08/15/2022	$	14,000	$	14,279	3.00%, 12/01/2046		17,866		17,567
Omega Healthcare Investors Inc					3.50%, 10/01/2041		4,395		4,454
4.75%, 01/15/2028		7,000		6,942	3.50%, 04/01/2042		5,010		5,077
5.25%, 01/15/2026		7,500		7,676	3.50%, 04/01/2042		6,857		6,949
Physicians Realty LP					3.50%, 04/01/2045		10,218		10,328
4.30%, 03/15/2027		17,000		16,388	3.50%, 03/01/2048		19,784		19,988
Simon Property Group LP					4.00%, 04/01/2039		3,896		4,028
2.75%, 02/01/2023		7,000		6,860	4.00%, 02/01/2045		5,784		5,945
4.38%, 03/01/2021		3,000		3,078	4.00%, 02/01/2046		11,114		11,425
Ventas Realty LP					4.00%, 06/01/2046		11,025		11,323
3.85%, 04/01/2027		21,000		20,531	4.50%, 07/01/2039		4,939		5,209
Ventas Realty LP / Ventas Capital Corp					4.50%, 12/01/2040		4,922		5,177
3.25%, 08/15/2022		8,000		7,937	4.50%, 10/01/2041		6,160		6,478
Welltower Inc					5.00%, 08/01/2039		2,801		2,980
3.75%, 03/15/2023		3,000		3,003			$		156,953
4.25%, 04/15/2028		4,000		4,027	Federal National Mortgage Association (FNMA) - 13.19%
4.50%, 01/15/2024		5,000		5,152	3.00%, 03/01/2042		7,034		6,951
4.95%, 01/15/2021		3,000		3,079	3.00%, 03/01/2042		7,648		7,557
6.13%, 04/15/2020		2,000		2,060	3.00%, 05/01/2042		8,359		8,260
Weyerhaeuser Co					3.00%, 06/01/2042		7,656		7,565
3.25%, 03/15/2023		5,000		4,916	3.00%, 06/01/2042		7,525		7,436
4.70%, 03/15/2021		12,000		12,328	3.50%, 12/01/2040		5,199		5,259
		$		226,418	3.50%, 01/01/2041		3,907		3,952
Savings & Loans - 0.23%					3.50%, 01/01/2041		4,130		4,177
First Niagara Financial Group Inc					3.50%, 12/01/2041		3,448		3,488
7.25%, 12/15/2021		6,000		6,626	3.50%, 01/01/2042		5,632		5,697
Software - 1.05%					3.50%, 03/01/2042		5,850		5,917
Oracle Corp					3.50%, 04/01/2042		7,969		8,061
2.50%, 05/15/2022		12,000		11,858	3.50%, 02/01/2043		9,618		9,734
2.95%, 05/15/2025		19,000		18,729	3.50%, 03/01/2045		10,371		10,496
		$		30,587	3.50%, 06/01/2045		14,191		14,337
Telecommunications - 2.62%					3.50%, 07/01/2045		12,007		12,127
Crown Castle Towers LLC					3.50%, 11/01/2045		14,582		14,719
4.24%, 07/15/2048(g)		13,000		13,035	3.50%, 05/01/2046		12,720		12,824
Qwest Corp					3.50%, 06/01/2046		11,477		11,570
6.75%, 12/01/2021		19,000		20,306	4.00%, 09/01/2040		5,123		5,292
Sprint Corp					4.00%, 11/01/2040		2,835		2,919
7.88%, 09/15/2023		7,500		7,969	4.00%, 10/01/2041		3,981		4,110
Sprint Spectrum Co LLC / Sprint Spectrum Co II					4.00%, 10/01/2041		2,734		2,823
LLC / Sprint Spectrum Co III LLC					4.00%, 11/01/2041		8,293		8,561
3.36%, 03/20/2023(g)		4,984		4,957	4.00%, 04/01/2042		5,276		5,447
5.15%, 03/20/2028(g)		16,000		16,115	4.00%, 08/01/2043		7,839		8,093
T-Mobile USA Inc					4.00%, 08/01/2043		9,670		10,014
6.38%, 03/01/2025		13,500		14,006	4.00%, 11/01/2043		9,837		10,181
		$		76,388	4.00%, 11/01/2043		8,107		8,371
Transportation - 0.00%					4.00%, 02/01/2044		9,495		9,835
Trailer Bridge Inc					4.00%, 07/01/2044		7,345		7,546
0.00%, 11/15/2019(a),(b),(c)		12,000		—	4.00%, 09/01/2044		7,238		7,436
TOTAL BONDS		$		1,854,373	4.00%, 11/01/2044		9,060		9,315
SENIOR FLOATING RATE INTERESTS		Principal			4.00%, 09/01/2045		18,407		18,886
- 0.69%	Amount (000's)    Value (000's)				4.00%, 08/01/2046		13,129		13,511
					4.00%, 01/01/2047		13,252		13,585
Pipelines - 0.31%					4.50%, 08/01/2040		7,324		7,698
BCP Renaissance Parent LLC					4.50%, 10/01/2040		4,723		4,964
6.03%, 10/31/2024(j)	$	9,204	$	9,099	4.50%, 12/01/2040		5,874		6,174
US LIBOR + 3.50%					4.50%, 08/01/2041		6,423		6,752
Software - 0.38%					4.50%, 10/01/2043		4,155		4,342
Ivanti Software Inc					4.50%, 05/01/2044		8,206		8,573
11.51%, 01/20/2025(j)		11,500		10,968	4.50%, 06/01/2046		9,191		9,575
US LIBOR + 9.00%					4.50%, 05/01/2047		15,550		16,172
TOTAL SENIOR FLOATING RATE INTERESTS		$		20,067	4.50%, 05/01/2047		13,492		14,032
U.S. GOVERNMENT & GOVERNMENT		Principal					$		384,334
AGENCY OBLIGATIONS - 32.68%	Amount (000's)    Value (000's)				U.S. Treasury - 14.11%
Federal Home Loan Mortgage Corporation (FHLMC) - 5.38%					1.25%, 10/31/2019		15,000		14,856
3.00%, 10/01/2042	$	9,683	$	9,571	1.50%, 08/15/2026		15,000		13,917
3.00%, 10/01/2042		9,523		9,414	1.63%, 06/30/2020		15,000		14,817
3.00%, 11/01/2042		9,570		9,459	1.63%, 11/15/2022		15,000		14,561

See accompanying notes.

107

     Schedule of Investments Income Fund January 31, 2019 (unaudited)

U.S. GOVERNMENT & GOVERNMENT			Principal				(d)		Restricted Security. Please see Restricted Security Sub-Schedule for more
AGENCY OBLIGATIONS (continued)		Amount (000’s)			Value (000’s)				information.
U.S. Treasury (continued)							(e)		Affiliated Security. Security is either an affiliate (and registered under the
	1.75%, 05/15/2022	$	15,000	$	14,676				Investment Company Act of 1940) or an affiliate as defined by the Investment
	1.75%, 05/15/2023		15,000		14,575				Company Act of 1940 (controls 5.0% or more of the outstanding voting
	2.00%, 11/15/2021		15,000		14,822				shares of the security). Please see affiliated sub-schedule for transactional
	2.25%, 11/15/2024		5,000		4,936				information.
	2.25%, 08/15/2027		15,000		14,596		(f)		Current yield shown is as of period end.
	2.50%, 05/15/2024		15,000		15,024		(g)		Security exempt from registration under Rule 144A of the Securities Act of
	2.63%, 11/15/2020		15,000		15,034				1933. These securities may be resold in transactions exempt from registration,
	2.75%, 11/15/2023		15,000		15,203				normally to qualified institutional buyers. At the end of the period, the value of
	2.75%, 02/15/2028		15,000		15,155				these securities totaled $341,643 or 11.72% of net assets.
	2.75%, 11/15/2047		15,000		14,236		(h)		Rate shown is as of period end. The rate may be a variable or floating rate or
	2.88%, 05/15/2043		15,000		14,706				a fixed rate which may convert to a variable or floating rate in the future.
	2.88%, 08/15/2045		15,000		14,662		(i)		Perpetual security. Perpetual securities pay an indefinite stream of interest,
	2.88%, 11/15/2046		15,000		14,641				but they may be called by the issuer at an earlier date. Date shown, if any,
	3.00%, 11/15/2044		15,000		15,028				reflects the next call date or final legal maturity date. Rate shown is as of
	3.00%, 11/15/2045		15,000		15,018				period end.
	3.00%, 02/15/2048		15,000		14,961		(j)		Rate information disclosed is based on an average weighted rate of the
	3.13%, 05/15/2021		15,000		15,219				underlying tranches as of period end.
	3.13%, 08/15/2044		15,000		15,359
	3.38%, 05/15/2044		15,000		16,024					Portfolio Summary  (unaudited)
	3.38%, 11/15/2048		15,000		16,087		Sector									Percent
	3.50%, 02/15/2039		15,000		16,482		Financial									21.36	%
	3.63%, 02/15/2044		15,000		16,676		Mortgage Securities									18.57	%
	3.75%, 11/15/2043		10,000		11,334		Government									14.11	%
	4.38%, 02/15/2038		15,000		18,468		Energy									10.66	%
			$		411,073		Utilities									7.92	%
TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY							Consumer, Non-cyclical									7.84	%
OBLIGATIONS			$		952,360		Communications									5.33	%
Total Investments			$		2,892,414
Other Assets and Liabilities -  0.74%					21,469		Asset Backed Securities									3.65	%
TOTAL NET ASSETS - 100.00%			$		2,913,883		Industrial									3.32	%
							Technology									2.21	%
							Basic Materials									1.80	%
(a)	Non-income producing security						Consumer, Cyclical									1.55	%
(b)	The value of these investments was determined using significant unobservable						Investment Companies									0.94	%
	inputs.						Other Assets and Liabilities									0.74	%
(c)	Fair value of these investments is determined in good faith by the Manager						TOTAL NET ASSETS								100.00		%
	under procedures established and periodically reviewed by the Board of
	Directors. Certain inputs used in the valuation may be unobservable; however,
	each security is evaluated individually for purposes of ASC 820 which results
	in not all securities being identified as Level 3 of the fair value hierarchy.
	At the end of the period, the fair value of these securities totaled $28,144 or
	0.97% of net assets.
Affiliated Securities			October 31, 2018						Purchases				Sales		January 31, 2019
			Value							Cost		Proceeds			Value
Principal Government Money Market Fund 2.32%			$		36,132			$		144,314	$		152,964	$		27,482
			$		36,132			$		144,314	$		152,964	$		27,482
					Realized Gain/Loss							Realized Gain from			Change in Unrealized
			Income		on Investments					Capital Gain Distributions						Gain/Loss
Principal Government Money Market Fund 2.32%		$	141	$		— $							— $			—
		$	141	$		— $							— $			—
Amounts in thousands
Restricted Securities
Security Name					Acquisition Date							Cost		Value	Percent of Net Assets
Trailer Bridge Inc					05/07/2012-12/22/2016					$		16,579	$	28,144		0.97	%
Total													$	28,144		0.97	%
Amounts in thousands.

See accompanying notes.

108

Schedule of Investments

Inflation Protection Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 2.45%		Shares Held       Value (000's)						Principal
Money Market Funds - 2.45%						BONDS (continued)	Amount (000’s)   Value (000’s)
Principal Government Money Market Fund		38,390,733		$	38,391	Sovereign - 9.15%
2.32%(a),(b)						French Republic Government Bond OAT
TOTAL INVESTMENT COMPANIES			$		38,391	0.10%, 07/25/2047(e)	EUR		4,708	$	5,632
		Principal				1.85%, 07/25/2027			22,997		32,374
BONDS - 9.24%	Amount (000's)      Value (000's)					Italy Buoni Poliennali Del Tesoro
Commercial Mortgage Backed Securities - 0.00%						1.25%, 10/27/2020(e)			3,154		3,693
CD 2007-CD4 Commercial Mortgage Trust						1.30%, 05/15/2028(e)			8,431		9,333
0.79%, 12/11/2049(c),(d),(e)		$	20	$	—	1.65%, 04/23/2020(e)			5,889		6,892
Commercial Mortgage Trust 2007-GG9						Japanese Government CPI Linked Bond
0.41%, 03/10/2039(c),(d),(e)			2,655		3	0.10%, 03/10/2027	JPY		2,685,284		25,491
Ginnie Mae						0.10%, 03/10/2028			2,437,599		23,088
1.35%, 03/16/2047(c),(d)			221		9	New Zealand Government Inflation Linked Bond
ML-CFC Commercial Mortgage Trust 2006-3						2.60%, 09/20/2040	NZD		3,392		2,832
0.78%, 07/12/2046(c),(d),(e)			67		—	2.63%, 09/20/2035			7,175		5,982
			$		12	3.00%, 09/20/2030			28,258		24,569
Home Equity Asset Backed Securities - 0.00%						United Kingdom Gilt
Option One Mortgage Loan Trust 2005-1						1.50%, 07/22/2047	GBP		2,925		3,643
4.01%, 02/25/2035			23		9				$		143,529
1.00 x 1 Month USD LIBOR + 1.50%						TOTAL BONDS			$		145,001
Mortgage Backed Securities - 0.09%						U.S. GOVERNMENT & GOVERNMENT		Principal
Alternative Loan Trust 2006-OA6						AGENCY OBLIGATIONS - 89.60%	Amount (000's)  Value (000's)
2.77%, 07/25/2046			1		1	U.S. Treasury Inflation-Indexed Obligations - 89.60%
1.00 x 1 Month USD LIBOR + 0.26%						0.13%, 04/15/2021		$	3,610	$	3,550
Chase Mortgage Finance Trust Series 2007-A2						0.13%, 01/15/2022			79,528		78,066
4.26%, 07/25/2037(d)			49		49	0.13%, 04/15/2022			88,410		86,544
Fannie Mae REMIC Trust 2004-W5						0.13%, 07/15/2022			19,153		18,835
2.96%, 02/25/2047			22		22	0.13%, 01/15/2023			8,668		8,470
1.00 x 1 Month USD LIBOR + 0.45%						0.13%, 07/15/2024			81,238		79,036
Fannie Mae REMIC Trust 2005-W2						0.13%, 07/15/2026			66,475		63,672
2.71%, 05/25/2035			9		9	0.25%, 01/15/2025(f)			67,871		66,028
1.00 x 1 Month USD LIBOR + 0.20%						0.38%, 07/15/2023			15,074		14,923
Impac CMB Trust Series 2004-5						0.38%, 07/15/2025			62,176		61,031
4.84%, 10/25/2034			13		12	0.38%, 01/15/2027			104,756		101,569
1.00 x 1 Month USD LIBOR + 2.33%						0.38%, 07/15/2027			39,590		38,427
Impac CMB Trust Series 2004-6						0.50%, 01/15/2028			43,553		42,453
3.49%, 10/25/2034			10		10	0.63%, 07/15/2021			70,099		70,116
1.00 x 1 Month USD LIBOR + 0.98%						0.63%, 04/15/2023			49,464		49,230
Impac CMB Trust Series 2005-1						0.63%, 01/15/2024			97,390		97,112
3.13%, 04/25/2035			84		80	0.63%, 01/15/2026(f)			113,316		112,395
1.00 x 1 Month USD LIBOR + 0.62%						0.63%, 02/15/2043			4,007		3,615
Impac CMB Trust Series 2005-5						0.75%, 07/15/2028			14,954		14,954
3.27%, 08/25/2035			16		13	0.75%, 02/15/2042(g)			39,147		36,551
1.00 x 1 Month USD LIBOR + 0.77%						0.75%, 02/15/2045			41,854		38,595
Merrill Lynch Alternative Note Asset Trust Series						0.88%, 01/15/2029			21,500		21,683
2007-A3						0.88%, 02/15/2047			1,222		1,157
2.72%, 04/25/2037			2,105		1,140	1.00%, 02/15/2046			23,982		23,444
1.00 x 1 Month USD LIBOR + 0.21%						1.00%, 02/15/2048(g)			50,170		49,042
WaMu Mortgage Pass-Through Certificates Series						1.38%, 02/15/2044			29,261		31,085
2005-AR2 Trust						1.75%, 01/15/2028			17,956		19,427
2.88%, 01/25/2045			45		45	2.00%, 01/15/2026			16,019		17,378
1.00 x 1 Month USD LIBOR + 0.37%						2.13%, 02/15/2040			17,807		21,449
			$		1,381	2.13%, 02/15/2041			14,097		17,069
Other Asset Backed Securities - 0.00%						2.38%, 01/15/2025			16,796		18,424
Argent Securities Trust 2006-W3						2.38%, 01/15/2027			30,982		34,807
2.63%, 04/25/2036			28		11	2.50%, 01/15/2029			24,977		29,010
1.00 x 1 Month USD LIBOR + 0.12%						3.38%, 04/15/2032			853		1,121
Countrywide Asset-Backed Certificates						3.88%, 04/15/2029			27,815		36,059
3.63%, 12/25/2032			19		19				$		1,406,327
1.00 x 1 Month USD LIBOR + 1.13%						TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY
Fannie Mae REMIC Trust 2003-W16						OBLIGATIONS			$		1,406,327
2.66%, 11/25/2033			1		1	TOTAL PURCHASED OPTIONS - 0.01%			$		142
						TOTAL PURCHASED CAPPED OPTIONS - 0.00%			$		55
1.00 x 1 Month USD LIBOR + 0.15%						TOTAL PURCHASED INTEREST RATE SWAPTIONS - 0.34% $					5,449
Long Beach Mortgage Loan Trust 2004-2						Total Investments			$		1,595,365
3.31%, 06/25/2034			39		39	Other Assets and Liabilities -  (1.64)%					(25,794	)
1.00 x 1 Month USD LIBOR + 0.80%						TOTAL NET ASSETS - 100.00%			$		1,569,571
			$		70

See accompanying notes.

109

Schedule of Investments

Inflation Protection Fund January 31, 2019 (unaudited)

(a)	Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.
(b)	Current yield shown is as of period end.
(c)	Security is an Interest Only Strip.
(d)	Certain variable rate securities are not based on a published reference rate and spread but 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. Rate shown is the rate in effect as of period end.
(e)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities totaled $25,553 or 1.63% of net assets.
(f)	Security or a portion of the security was pledged to cover margin requirements for swap and/or swaption contracts. At the end of the period, the value of these securities totaled $2,180 or 0.14% of net assets.

(g)      Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the end of the period, the value of these securities totaled $2,503 or 0.16% of net assets.

Portfolio Summary  (unaudited)
Sector	Percent
Government	98.75	%
Investment Companies	2.45	%
Purchased Interest Rate Swaptions	0.34	%
Mortgage Securities	0.09	%
Purchased Options	0.01	%
Asset Backed Securities	0.00	%
Purchased Capped Options	0.00	%
Other Assets and Liabilities	(1.64	)%
TOTAL NET ASSETS	100.00	%

Affiliated Securities		October 31, 2018							Purchases				Sales						January 31, 2019
					Value				Cost				Proceeds							Value
Principal Government Money Market Fund 2.32%		$			24,651	$		88,008		$		74,268		$						38,391
		$			24,651	$		88,008		$		74,268		$						38,391
					Realized Gain/Loss				Realized Gain from						Change in Unrealized
		Income			on Investments				Capital Gain Distributions										Gain/Loss
Principal Government Money Market Fund 2.32%		$	103	$				— $				— $								—
		$	103	$				— $				— $								—
Amounts in thousands
Options
												Upfront						Unrealized
		Contracts/										Payments/						Appreciation/
Purchased Options Outstanding	Counterparty		Shares		Notional Amount	Exercise Price			Expiration Date			(Premiums)						Fair Value		(Depreciation)
Call - 90 Day Eurodollar Future;	N/A		450	$	1,125	$		97.75	06/18/2019			$			34	$	8		$	(26	)
June 2019
Call - 90 Day Eurodollar Future;	N/A		450	$	1,125	$		97.75	03/17/2020						77		127			50
March 2020
Put - 90 Day Eurodollar Future;	N/A		59	$	148	$		97.25	07/15/2019						5		5			—
September 2019
Put - 90 Day Eurodollar Future;	N/A		178	$	445	$		97.00	07/15/2019						7		1			(6	)
September 2019
Put - 90 Day Eurodollar Future;	N/A		59	$	148	$		97.13	07/15/2019						6		1			(5	)
September 2019
Total												$			129	$	142		$	13
												Upfront						Unrealized
		Contracts/										Payments/						Appreciation/
Written Options Outstanding	Counterparty		Shares	Notional Amount			Exercise Price		Expiration Date			(Premiums)					Fair Value	(Depreciation)
Call - 90 Day Eurodollar Future;	N/A		450	$	1,125	$		97.88	06/18/2019			$			(22	)$	(6)$			16
June 2019
Call - 90 Day Eurodollar Future;	N/A		450	$	1,125	$		97.88	03/17/2020						(61	)	(101)			(40	)
March 2020
Total												$			(83	)$	(107)$			(24	)
Amounts in thousands except contracts/shares.
Interest Rate Swaptions
					Pay/Receive								Upfront					Unrealized
Purchased Swaptions					Floating		Notional		Exercise		Expiration				Payments/			Appreciation/
Outstanding	Counterparty	Floating Rate Index			Rate		Amount		Rate		Date				(Premiums)		Fair Value			(Depreciation)
Call - 1 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR			Pay		$	90,380	2.95%		01/22/2020 $				235	$	416	$		181
Swap
Call - 1 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR			Receive			43,990	2.95	%	01/31/2020				98		205			107
Swap
Call - 1 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR			Pay			90,380	2.95	%	01/13/2020				238		406			168
Swap
Call - 10 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR			Pay			4,320	2.78	%	04/18/2019				43		62			19
Swap

See accompanying notes.

110

Schedule of Investments
Inflation Protection Fund
January 31, 2019 (unaudited)
Interest Rate Swaptions (continued)
			Pay/Receive						Upfront				Unrealized
Purchased Swaptions			Floating	Notional		Exercise		Expiration		Payments/			Appreciation/
Outstanding	Counterparty	Floating Rate	Index Rate	Amount		Rate		Date		(Premiums)		Fair Value		(Depreciation)
Call - 10 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Pay	$	1,420	3.08	%	01/30/2029	$	81	$	87	$	6
Swap
Call - 10 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Pay		1,410	3.05	%	01/11/2029		80		85		5
Swap
Call - 10 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive		3,705	3.09	%	12/07/2038		172		219		47
Swap
Call - 10 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Receive		1,310	2.99	%	04/28/2038		62		74		12
Swap
Call - 10 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Pay		4,540	2.76	%	04/09/2019		48		59		11
Swap
Call - 10 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Pay		1,410	3.04	%	01/12/2029		80		83		3
Swap
Call - 20 Year Interest Rate	JPMorgan Chase	6 Month JPY LIBOR	Receive	JPY	151,300	0.78	%	04/19/2021		47		69		22
Swap
Call - 30 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Pay	$	760	2.97	%	01/30/2024		77		87		10
Swap
Call - 30 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive		755	3.12	%	04/27/2023		77		94		17
Swap
Call - 5 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive		13,635	3.08	%	11/21/2019		178		380		202
Swap
Call - 5 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive		13,845	3.21	%	10/28/2019		168		454		286
Swap
Call - 5 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive		13,635	3.08	%	11/21/2019		178		376		198
Swap
Call - 5 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Receive		13,845	3.17	%	10/30/2019		175		433		258
Swap
Call - 5 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Receive		27,160	3.09	%	11/29/2019		350		767		417
Swap
Put - 10 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive		3,705	3.09	%	12/07/2038		172		162		(10	)
Swap
Put - 10 Year Interest Rate	Barclays Bank PLC	6 Month JPY LIBOR	Pay	JPY	4,715,800	1.10	%	06/30/2022		642		202		(440	)
Swap
Put - 10 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive	$	1,420	3.08	%	01/30/2029		81		77		(4	)
Swap
Put - 10 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive		1,410	3.05	%	01/11/2029		80		78		(2	)
Swap
Put - 10 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive		4,320	2.78	%	04/18/2019		43		20		(23	)
Swap
Put - 10 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Receive		4,540	2.76	%	04/09/2019		48		20		(28	)
Swap
Put - 10 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Receive		1,310	2.99	%	04/28/2038		62		62		—
Swap
Put - 10 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Receive		1,410	3.04	%	01/12/2029		80		78		(2	)
Swap
Put - 20 Year Interest Rate	JPMorgan Chase	6 Month JPY LIBOR	Receive	JPY	151,300	0.78	%	04/19/2021		47		26		(21	)
Swap
Put - 30 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive	$	760	2.97	%	01/30/2024		77		70		(7	)
Swap
Put - 30 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive		5,130	3.80	%	06/08/2021		200		83		(117	)
Swap
Put - 30 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive		755	3.12	%	04/27/2023		77		56		(21	)
Swap
Put - 5 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive		13,635	3.08	%	11/21/2019		178		30		(148	)
Swap
Put - 5 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive		13,845	3.21	%	10/28/2019		168		17		(151	)
Swap
Put - 5 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive		13,635	3.08	%	11/21/2019		178		31		(147	)
Swap
Put - 5 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Receive		13,845	3.17	%	10/30/2019		175		20		(155	)
Swap
Put - 5 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Receive		27,160	3.09	%	11/29/2019		350		61		(289	)
Swap
Total									$	5,045	$	5,449	$	404

See accompanying notes.

111

Schedule of Investments
Inflation Protection Fund
January 31, 2019 (unaudited)
Interest Rate Swaptions (continued)
			Pay/
			Receive								Upfront				Unrealized
Written Swaptions			Floating		Notional		Exercise		Expiration		Payments/				Appreciation/
Outstanding	Counterparty	Floating Rate	Index Rate		Amount		Rate		Date	(Premiums)			Fair Value			(Depreciation)
Call - 1 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Pay		$	109,100	2.45	%	04/17/2020	$	(84	)$	(251	)	$	(167	)
Swap
Call - 1 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Pay			135,570	2.45	%	01/21/2020		(158	)	(231	)		(73	)
Swap
Call - 1 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Receive			65,985	2.45	%	01/31/2020		(64	)	(119	)		(55	)
Swap
Call - 1 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Pay			135,570	2.45	%	01/13/2020		(168	)	(224	)		(56	)
Swap
Call - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive			23,456	3.06	%	11/30/2020		(193	)	(333	)		(140	)
Swap
Call - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive			25,220	2.78	%	12/14/2020		(211	)	(267	)		(56	)
Swap
Call - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive			33,270	2.89	%	12/09/2019		(175	)	(291	)		(116	)
Swap
Call - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive			24,330	2.90	%	07/02/2019		(26	)	(14	)		12
Swap
Call - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			23,760	2.88	%	04/15/2020		(172	)	(240	)		(68	)
Swap
Call - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			32,550	2.92	%	12/10/2019		(169	)	(302	)		(133	)
Swap
Call - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			24,070	2.89	%	04/15/2020		(174	)	(246	)		(72	)
Swap
Call - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			23,780	2.94	%	04/20/2020		(165	)	(259	)		(94	)
Swap
Call - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Pay			229,100	2.40	%	02/25/2020		(699	)	(1,006	)		(307	)
Swap
Call - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			12,600	2.90	%	06/01/2020		(93	)	(136	)		(43	)
Swap
Call - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			16,370	3.30	%	11/08/2019		(81	)	(250	)		(169	)
Swap
Call - 2 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Receive			24,430	3.15	%	10/30/2020		(197	)	(373	)		(176	)
Swap
Call - 2 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Receive			41,930	2.15	%	07/09/2019		(31	)	(30	)		1
Swap
Call - 2 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Receive			78,630	2.10	%	07/05/2019		(86	)	(44	)		42
Swap
Call - 2 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Receive			47,624	3.07	%	11/30/2020		(391	)	(676	)		(285	)
Swap
Call - 2 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Receive			26,210	2.10	%	07/05/2019		(34	)	(15	)		19
Swap
Call - 2 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Receive			12,235	3.27	%	11/10/2020		(95	)	(210	)		(115	)
Swap
Put - 10 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive			10,870	3.87	%	06/08/2021		(213	)	(80	)		133
Swap
Put - 10 Year Interest Rate	Deutsche Bank AG	6 Month Euro	Pay	EUR		26,830	1.65	%	02/22/2019		(307	)	—			307
Swap		Interbank Offered Rate
Put - 10 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive		$	12,240	2.90	%	04/17/2019		(321	)	(24	)		297
Swap
Put - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Pay			12,430	2.80	%	01/06/2020		(29	)	(25	)		4
Swap
Put - 2 Year Interest Rate	Barclays Bank PLC	6 Month Euro	Pay	EUR		14,430	0.20	%	01/24/2020		(17	)	(12	)		5
Swap		Interbank Offered Rate
Put - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive		$	22,110	3.50	%	08/25/2020		(75	)	(18	)		57
Swap
Put - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive			23,456	3.06	%	11/30/2020		(193	)	(63	)		130
Swap
Put - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive			33,270	2.89	%	12/09/2019		(175	)	(46	)		129
Swap
Put - 2 Year Interest Rate	Barclays Bank PLC	6 Month Euro	Receive	EUR		11,560	0.55	%	12/22/2020		(42	)	(22	)		20
Swap		Interbank Offered Rate
Put - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Pay		$	24,330	2.90	%	07/02/2019		(30	)	(9	)		21
Swap
Put - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive			25,220	2.78	%	12/14/2020		(211	)	(112	)		99
Swap
Put - 2 Year Interest Rate	Barclays Bank PLC	3 Month USD LIBOR	Receive			20,240	3.25	%	12/30/2020		(75	)	(41	)		34
Swap

See accompanying notes.

112

Schedule of Investments
Inflation Protection Fund
January 31, 2019 (unaudited)
Interest Rate Swaptions (continued)
			Pay/Receive									Upfront				Unrealized
Written Swaptions			Floating		Notional		Exercise		Expiration			Payments/				Appreciation/
Outstanding	Counterparty	Floating Rate Index	Rate		Amount		Rate		Date		(Premiums)			Fair Value			(Depreciation)
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive		$	11,130	3.50	%	06/16/2020		$	(41	)$	(7	)	$	34
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			17,710	3.35	%	06/01/2020			(64	)	(13	)		51
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Pay			16,300	3.30	%	09/09/2019			(39	)	(2	)		37
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			12,700	3.15	%	05/06/2020			(70	)	(15	)		55
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			23,780	2.94	%	04/20/2020			(165	)	(45	)		120
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			32,550	2.92	%	12/10/2019			(169	)	(42	)		127
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			12,600	2.90	%	06/01/2020			(93	)	(30	)		63
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			24,070	2.89	%	04/15/2020			(174	)	(51	)		123
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			17,590	3.45	%	06/09/2020			(73	)	(10	)		63
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			229,100	3.40	%	02/25/2020			(870	)	(90	)		780
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			16,370	3.30	%	11/08/2019			(81	)	(4	)		77
Swap
Put - 2 Year Interest Rate	Deutsche Bank AG	3 Month USD LIBOR	Receive			23,760	2.88	%	04/15/2020			(172	)	(52	)		120
Swap
Put - 2 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Pay			41,930	2.95	%	07/09/2019			(50	)	(13	)		37
Swap
Put - 2 Year Interest Rate	JPMorgan Chase	6 Month Euro	Receive	EUR		24,510	0.60	%	12/15/2020			(93	)	(42	)		51
Swap		Interbank Offered Rate
Put - 2 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Pay		$	78,630	2.90	%	07/05/2019			(86	)	(32	)		54
Swap
Put - 2 Year Interest Rate	JPMorgan Chase	3 Month USD LIBOR	Receive			24,430	3.15	%	10/30/2020			(197	)	(51	)		146
Swap
Put - 2 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Receive			47,624	3.07	%	11/30/2020			(391	)	(126	)		265
Swap
Put - 2 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Pay			26,210	2.90	%	07/05/2019			(22	)	(11	)		11
Swap
Put - 2 Year Interest Rate	Morgan Stanley & Co	3 Month USD LIBOR	Receive			12,235	3.27	%	11/10/2020			(95	)	(21	)		74
Swap
Put - 5 Year Interest Rate	Barclays Bank PLC	6 Month Euro	Receive	EUR		6,002	0.60	%	06/26/2019			(45	)	(2	)		43
Swap		Interbank Offered Rate
Total											$	(8,144	)$	(6,628	)	$	1,516
Amounts in thousands.
Futures Contracts
Description and Expiration Date		Type	Contracts						Notional Amount			Value and Unrealized Appreciation/(Depreciation)
Euro Bund 10 Year Bund; March 2019		Short			298	$	56,508			$							(1,031	)
Euro Buxl 30 Year Bond; March 2019		Short			57		12,126										(516	)
Euro Schatz; March 2019		Long			372		47,635										9
Euro-BTP; March 2019		Short			70		10,381										(518	)
Euro-Oat; March 2019		Short			161		28,180										(369	)
Japan 10 Year Bond TSE; March 2019		Short			48		67,286										(303	)
Short Term Euro-BTP; March 2019		Short			48		6,125										(92	)
UK 10 Year Gilt; March 2019		Short			120		19,443										(138	)
US 10 Year Note; March 2019		Short			105		12,859										(3	)
US 10 Year Ultra Note; March 2019		Short			145		18,950										(165	)
US 2 Year Note; March 2019		Long			689		146,294										484
US 5 Year Note; March 2019		Short			168		19,296										(21	)
US Long Bond; March 2019		Short			27		3,960										(92	)
US Ultra Bond; March 2019		Short			21		3,384										(26	)
Total									$								(2,781	)
Amounts in thousands except contracts.

See accompanying notes.

113

Schedule of Investments
Inflation Protection Fund
January 31, 2019 (unaudited)
Foreign Currency Contracts
									Unrealized Appreciation/(Depreciation)
Counterparty	Settlement Date	Currency to Accept							Currency to Deliver		Asset		Liability
Australia and New Zealand Banking Group	02/05/2019	$		458	NZD				686	$	— $		(16	)
Bank of America NA	02/05/2019	$		1,731	GBP				1,364		—		(58	)
Bank of America NA	02/05/2019	$		3,165	JPY		356,746				—		(110	)
Bank of America NA	03/20/2019	EUR		1,350 $					1,551		—		(1	)
Bank of New York Mellon	03/20/2019	GBP		253 $					320		13		—
Barclays Bank PLC	02/05/2019	$		480	EUR				423		—		(4	)
Barclays Bank PLC	02/05/2019	JPY	2,689,747 $				24,563				133		—
Barclays Bank PLC	03/05/2019	$		24,616	JPY		2,689,747				—		(133	)
BNP Paribas	02/05/2019	$		4,867	EUR				4,247		6		—
BNP Paribas	02/05/2019	$		264	EUR				232		—		(2	)
BNP Paribas	03/05/2019	$		2,793	NZD				4,088		—		(34	)
BNP Paribas	03/20/2019	$		1,563	CAD				2,070		—		(14	)
BNP Paribas	03/20/2019	CAD		2,076 $					1,570		12		—
BNP Paribas	03/20/2019	EUR		1,380 $					1,583		2		—
BNP Paribas	03/20/2019	$		1,583	JPY		171,254				5		—
BNP Paribas	03/20/2019	JPY		169,009 $					1,563		—		(6	)
Citigroup Inc	02/05/2019	$		4,889	EUR				4,254		20		—
Citigroup Inc	03/20/2019	$		1,565	AUD				2,170		—		(13	)
Citigroup Inc	03/20/2019	AUD		4,389 $					3,165		26		—
Citigroup Inc	03/20/2019	$		1,579	GBP				1,250		—		(64	)
Citigroup Inc	03/20/2019	GBP		565 $					719		24		—
Citigroup Inc	03/20/2019	$		3,136	EUR				2,740		—		(11	)
Citigroup Inc	03/20/2019	EUR		1,370 $					1,564		9		—
Citigroup Inc	03/20/2019	$		1,587	JPY		178,490				—		(58	)
Deutsche Bank AG	02/05/2019	JPY	2,689,747 $				24,734				—		(38	)
Deutsche Bank AG	02/05/2019	$		29,693	JPY		3,348,392				—		(1,050	)
Deutsche Bank AG	03/05/2019	$		24,787	JPY		2,689,747				38		—
Goldman Sachs & Co	02/05/2019	$		4,685	NZD				6,910		—		(91	)
Goldman Sachs & Co	03/20/2019	$		1,570	CAD				2,098		—		(28	)
Goldman Sachs & Co	03/20/2019	CAD		2,120 $					1,586		29		—
Goldman Sachs & Co	03/20/2019	$		3,177	JPY		356,710				—		(110	)
HSBC Securities Inc	02/05/2019	GBP		1,182 $					1,550		—		—
HSBC Securities Inc	02/05/2019	EUR		50,222 $			57,730				—		(242	)
HSBC Securities Inc	02/05/2019	NZD		45,328 $			31,371				—		(40	)
HSBC Securities Inc	03/05/2019	$		1,553	GBP				1,182		1		—
HSBC Securities Inc	03/05/2019	$		57,866	EUR		50,222				266		—
HSBC Securities Inc	03/05/2019	$		31,391	NZD		45,328				50		—
JPMorgan Chase	02/05/2019	$		6,786	GBP				5,304		—		(171	)
JPMorgan Chase	02/05/2019	$		25,928	NZD		37,746				—		(162	)
Nomura Securities	02/05/2019	$		423	EUR				370		—		(1	)
Nomura Securities	02/05/2019	$		14,892	JPY		1,687,180				—		(599	)
Standard Chartered Bank, Hong Kong	02/05/2019	GBP		5,759 $					7,309		245		—
Standard Chartered Bank, Hong Kong	03/20/2019	$		1,578	EUR				1,380		—		(7	)
Standard Chartered Bank, Hong Kong	03/20/2019	JPY		177,340 $					1,578		56		—
UBS AG	02/05/2019	$		46,623	EUR		40,895				—		(189	)
Westpac Banking Corporation	02/05/2019	AUD		172 $					124		1		—
Westpac Banking Corporation	02/05/2019	$		1,739	GBP				1,374		—		(63	)
Total									$		936	$	(3,315	)
Amounts in thousands.
Exchange Cleared Interest Rate Swaps
	(Pay)/						Unrealized				Upfront
	Receive	Payment							Appreciation/		Payments/
Floating Rate Index	Floating Rate	Fixed Rate	Frequency	Maturity Date			Notional Amount		(Depreciation)		(Receipts)		Fair Value
3 Month USD LIBOR	Pay	2.41% Semiannual		01/07/2022		$	7,670	$	(13	)$	— $		(13	)
3 Month USD LIBOR	Pay	2.41% Semiannual		01/07/2022			7,670		(13	)	—		(13	)
3 Month USD LIBOR	Receive	2.48% Quarterly		01/07/2025			3,160		7		—		7
3 Month USD LIBOR	Receive	2.48% Quarterly		01/07/2025			3,160		7		—		7
3 Month USD LIBOR	Pay	2.40% Semiannual		01/07/2022			10,640		(20	)	—		(20	)
3 Month USD LIBOR	Pay	2.50% Semiannual		12/31/2020			9,721		(17	)	—		(17	)
3 Month USD LIBOR	Pay	2.55% Semiannual		12/31/2020			18,869		(17	)	—		(17	)
3 Month USD LIBOR	Pay	2.74% Semiannual		05/15/2044			2,570		(41	)	—		(41	)
3 Month USD LIBOR	Pay	2.34% Semiannual		01/07/2022			20,500		(59	)	—		(59	)
3 Month USD LIBOR	Pay	2.45% Semiannual		01/07/2022			5,113		(4	)	—		(4	)
3 Month USD LIBOR	Receive	2.50% Quarterly		01/10/2023			26,280		(14	)	—		(14	)
3 Month USD LIBOR	Pay	2.45% Semiannual		01/08/2022			25,780		2		1		3
3 Month USD LIBOR	Receive	2.55% Quarterly		01/09/2022			2,550		(3	)	—		(3	)

See accompanying notes.

114

Schedule of Investments
Inflation Protection Fund
January 31, 2019 (unaudited)
Exchange Cleared Interest Rate Swaps (continued)
	(Pay)/					Unrealized				Upfront
	Receive		Payment					Appreciation/		Payments/
Floating Rate Index	Floating Rate	Fixed Rate	Frequency	Maturity Date		Notional Amount		(Depreciation)		(Receipts)		Fair Value
3 Month USD LIBOR	Receive	2.48% Quarterly		01/09/2022	$	5,110	$	2	$	— $		2
3 Month USD LIBOR	Pay	2.49% Semiannual		01/07/2022		7,655		(2	)	—		(2	)
3 Month USD LIBOR	Receive	2.53% Quarterly		01/07/2025		3,155		1		—		1
3 Month USD LIBOR	Pay	2.83% Semiannual		05/15/2044		2,590		(1	)	—		(1	)
3 Month USD LIBOR	Receive	2.54% Quarterly		01/07/2025		3,155		(2	)	—		(2	)
3 Month USD LIBOR	Pay	2.46% Semiannual		01/07/2022		7,655		(5	)	—		(5	)
3 Month USD LIBOR	Pay	2.53% Semiannual		08/02/2021		5,095		(2	)	—		(2	)
3 Month USD LIBOR	Receive	2.74% Quarterly		12/23/2024		4,290		(41	)	—		(41	)
3 Month USD LIBOR	Pay	2.64% Semiannual		12/22/2022		7,970		29		—		29
3 Month USD LIBOR	Receive	2.77% Quarterly		12/31/2020		25,370		(73	)	—		(73	)
3 Month USD LIBOR	Pay	2.70% Semiannual		12/22/2022		13,320		63		—		63
3 Month USD LIBOR	Pay	2.73% Semiannual		12/22/2022		10,600		58		—		58
3 Month USD LIBOR	Pay	3.00% Semiannual		02/15/2036		3,590		95		—		95
3 Month USD LIBOR	Receive	2.78% Quarterly		12/20/2024		3,220		(37	)	1		(36	)
3 Month USD LIBOR	Pay	2.75% Semiannual		12/20/2021		7,760		37		—		37
3 Month USD LIBOR	Pay	2.63% Semiannual		12/22/2022		14,820		53		—		53
3 Month USD LIBOR	Pay	2.53% Semiannual		01/03/2022		2,570		1		—		1
3 Month USD LIBOR	Pay	2.56% Semiannual		01/03/2022		5,940		7		—		7
3 Month USD LIBOR	Pay	2.82% Semiannual		05/15/2044		2,570		(5	)	—		(5	)
3 Month USD LIBOR	Pay	2.50% Semiannual		01/06/2022		5,150		—		—		—
3 Month USD LIBOR	Pay	2.59% Semiannual		12/31/2021		2,580		5		—		5
3 Month USD LIBOR	Pay	2.64% Semiannual		12/30/2021		5,170		14		—		14
3 Month USD LIBOR	Pay	2.65% Semiannual		12/22/2022		14,820		58		1		59
3 Month USD LIBOR	Pay	2.60% Semiannual		12/31/2021		2,580		5		—		5
3 Month USD LIBOR	Pay	2.59% Semiannual		12/30/2021		5,165		9		—		9
3 Month USD LIBOR	Receive	2.92% Quarterly		01/31/2049		2,360		(44	)	—		(44	)
3 Month USD LIBOR	Receive	2.73% Quarterly		12/31/2020		28,730		(64	)	1		(63	)
3 Month USD LIBOR	Pay	2.62% Semiannual		01/31/2022		2,555		6		—		6
3 Month USD LIBOR	Pay	2.93% Semiannual		01/31/2029		11,690		44		—		44
3 Month USD LIBOR	Receive	2.92% Quarterly		05/15/2044		2,690		(47	)	—		(47	)
3 Month USD LIBOR	Receive	2.71% Quarterly		07/24/2021		5,045		(16	)	—		(16	)
3 Month USD LIBOR	Receive	2.72% Quarterly		07/24/2021		5,045		(16	)	—		(16	)
3 Month USD LIBOR	Receive	2.66% Quarterly		01/28/2022		2,555		(8	)	—		(8	)
3 Month USD LIBOR	Receive	2.67% Quarterly		01/27/2022		5,120		(17	)	—		(17	)
3 Month USD LIBOR	Pay	2.61% Semiannual		02/03/2022		2,555		6		—		6
3 Month USD LIBOR	Pay	2.60% Semiannual		08/05/2021		5,090		4		1		5
3 Month USD LIBOR	Pay	2.53% Semiannual		02/04/2022		2,560		2		—		2
3 Month USD LIBOR	Pay	2.53% Semiannual		08/02/2021		5,095		(2	)	—		(2	)
3 Month USD LIBOR	Pay	2.54% Semiannual		08/05/2021		5,090		(1	)	—		(1	)
3 Month USD LIBOR	Pay	2.88% Semiannual		05/15/2044		3,290		34		—		34
3 Month USD LIBOR	Pay	2.58% Semiannual		02/03/2022		2,560		5		—		5
3 Month USD LIBOR	Pay	2.62% Semiannual		02/03/2022		2,560		7		—		7
3 Month USD LIBOR	Receive	2.73% Quarterly		08/15/2028		7,270		(45	)	—		(45	)
3 Month USD LIBOR	Pay	2.55% Semiannual		02/03/2022		2,560		3		—		3
3 Month USD LIBOR	Pay	2.74% Semiannual		01/14/2029		630		3		1		4
3 Month USD LIBOR	Receive	2.62% Quarterly		01/10/2022		5,565		(14	)	—		(14	)
3 Month USD LIBOR	Pay	2.55% Semiannual		01/16/2022		5,120		5		1		6
3 Month USD LIBOR	Pay	2.60% Semiannual		01/14/2025		2,130		7		—		7
3 Month USD LIBOR	Receive	2.63% Quarterly		01/13/2022		5,135		(14	)	—		(14	)
3 Month USD LIBOR	Receive	2.57% Quarterly		01/09/2022		8,280		(13	)	1		(12	)
3 Month USD LIBOR	Receive	2.57% Quarterly		01/10/2022		5,120		(7	)	—		(7	)
3 Month USD LIBOR	Receive	2.63% Quarterly		01/13/2022		5,135		(14	)	—		(14	)
3 Month USD LIBOR	Receive	2.59% Quarterly		01/10/2022		5,120		(9	)	—		(9	)
3 Month USD LIBOR	Pay	2.88% Semiannual		05/15/2044		2,530		23		—		23
3 Month USD LIBOR	Receive	2.71% Quarterly		07/22/2021		2,525		(8	)	—		(8	)
3 Month USD LIBOR	Receive	2.66% Quarterly		01/21/2022		4,420		(14	)	—		(14	)
3 Month USD LIBOR	Receive	2.73% Quarterly		07/22/2021		4,040		(14	)	—		(14	)
3 Month USD LIBOR	Receive	2.72% Quarterly		07/22/2021		2,525		(8	)	—		(8	)
3 Month USD LIBOR	Receive	2.64% Quarterly		01/21/2022		5,110		(15	)	—		(15	)
3 Month USD LIBOR	Pay	2.90% Semiannual		05/15/2044		2,530		33		—		33
3 Month USD LIBOR	Receive	2.69% Quarterly		12/31/2020		28,670		(42	)	—		(42	)
3 Month USD LIBOR	Receive	2.63% Quarterly		01/21/2022		5,110		(13	)	—		(13	)
3 Month USD LIBOR	Receive	2.66% Quarterly		07/18/2021		5,040		(11	)	1		(10	)
3 Month USD LIBOR	Receive	3.23% Quarterly		05/15/2044		12,580		(870	)	(65	)	(935	)
3 Month USD LIBOR	Pay	3.02% Semiannual		12/03/2021		5,200		51		—		51
3 Month USD LIBOR	Receive	3.05% Quarterly		11/29/2023		31,272		(731	)	1		(730	)
3 Month USD LIBOR	Pay	3.07% Semiannual		11/22/2021		2,070		22		—		22
3 Month USD LIBOR	Pay	3.14% Semiannual		11/29/2028		17,470		719		1		720

See accompanying notes.

115

Schedule of Investments
Inflation Protection Fund
January 31, 2019 (unaudited)
Exchange Cleared Interest Rate Swaps (continued)
	(Pay)/					Unrealized				Upfront
	Receive		Payment					Appreciation/		Payments/
Floating Rate Index	Floating Rate	Fixed Rate	Frequency	Maturity Date		Notional Amount		(Depreciation)		(Receipts)		Fair Value
3 Month USD LIBOR	Receive	3.02% Quarterly		12/03/2024	$	3,741	$	(85	)$	— $		(85	)
3 Month USD LIBOR	Pay	2.93% Semiannual		12/10/2021		10,430		83		—		83
3 Month USD LIBOR	Pay	2.89% Semiannual		12/10/2021		5,215		38		—		38
3 Month USD LIBOR	Pay	2.98% Semiannual		12/06/2021		12,530		113		—		113
3 Month USD LIBOR	Pay	3.02% Semiannual		12/03/2021		5,200		51		—		51
3 Month USD LIBOR	Receive	3.09% Quarterly		05/15/2044		2,636		(126	)	—		(126	)
3 Month USD LIBOR	Receive	3.05% Quarterly		07/25/2028		1,140		(38	)	—		(38	)
3 Month USD LIBOR	Receive	3.12% Quarterly		10/06/2022		33,180		(436	)	14		(422	)
3 Month USD LIBOR	Pay	2.98% Semiannual		07/19/2026		14,680		56		—		56
3 Month USD LIBOR	Pay	2.71% Semiannual		12/23/2021		10,350		41		—		41
3 Month USD LIBOR	Receive	2.92% Quarterly		07/19/2024		27,860		(182	)	1		(181	)
3 Month USD LIBOR	Receive	3.12% Quarterly		10/04/2028		200		(8	)	—		(8	)
3 Month USD LIBOR	Pay	3.07% Semiannual		10/12/2020		42,900		311		(1	)	310
3 Month USD LIBOR	Receive	3.27% Quarterly		11/09/2028		2,940		(154	)	—		(154	)
3 Month USD LIBOR	Receive	3.28% Quarterly		10/09/2028		1,100		(58	)	—		(58	)
3 Month USD LIBOR	Pay	3.25% Semiannual		10/09/2028		1,600		80		—		80
3 Month USD LIBOR	Receive	3.27% Quarterly		10/09/2028		7,250		(376	)	—		(376	)
3 Month USD LIBOR	Pay	3.05% Semiannual		12/17/2026		3,637		16		—		16
3 Month USD LIBOR	Receive	2.86% Quarterly		12/31/2020		29,930		(130	)	—		(130	)
3 Month USD LIBOR	Pay	2.78% Semiannual		12/12/2021		3,910		21		—		21
3 Month USD LIBOR	Receive	2.87% Quarterly		12/16/2024		8,000		(126	)	—		(126	)
3 Month USD LIBOR	Pay	2.83% Semiannual		12/17/2022		3,297		24		—		24
3 Month USD LIBOR	Pay	2.85% Semiannual		12/17/2021		5,170		34		—		34
3 Month USD LIBOR	Receive	2.90% Quarterly		12/19/2024		6,923		(37	)	—		(37	)
3 Month USD LIBOR	Pay	2.81% Semiannual		12/19/2021		5,160		30		—		30
3 Month USD LIBOR	Pay	2.84% Semiannual		12/10/2021		9,495		60		—		60
3 Month USD LIBOR	Pay	2.82% Semiannual		12/12/2021		3,910		24		—		24
3 Month USD LIBOR	Pay	2.82% Semiannual		12/12/2021		5,215		31		—		31
6 Month Euro Interbank Offered Rate	Pay	0.80% Annual		02/15/2028	EUR	4,910		106		1		107
6 Month Euro Interbank Offered Rate	Pay	0.82% Annual		02/15/2028		9,300		216		1		217
6 Month Euro Interbank Offered Rate	Receive	(0.16)% Semiannual		12/11/2020		15,180		(4	)	—		(4	)
6 Month Euro Interbank Offered Rate	Pay	0.36% Annual		12/21/2022		4,720		20		—		20
6 Month Euro Interbank Offered Rate	Pay	0.88% Annual		08/28/2028		990		27		—		27
6 Month Euro Interbank Offered Rate	Receive	1.04% Semiannual		03/23/2028		4,610		(218	)	(1	)	(219	)
6 Month Euro Interbank Offered Rate	Receive	0.42% Semiannual		12/17/2022		9,180		(51	)	—		(51	)
6 Month Euro Interbank Offered Rate	Pay	0.76% Annual		02/15/2028		1,750		31		—		31
6 Month Euro Interbank Offered Rate	Pay	0.78% Annual		02/15/2028		3,160		63		—		63
6 Month Euro Interbank Offered Rate	Pay	0.83% Annual		02/15/2028		23,340		571		3		574
6 Month Euro Interbank Offered Rate	Receive	(0.14)% Semiannual		12/11/2020		23,610		(18	)	—		(18	)
6 Month Euro Interbank Offered Rate	Receive	(0.17)% Semiannual		12/11/2020		8,430		(1	)	—		(1	)
6 Month JPY LIBOR	Receive	0.32% Semiannual		04/27/2028	JPY	1,895,205		(313	)	(7	)	(320	)
6 Month JPY LIBOR	Pay	0.13% Semiannual		04/26/2023		7,785,250		415		11		426
6 Month JPY LIBOR	Receive	0.35% Semiannual		01/11/2028		943,840		(186	)	(2	)	(188	)
6 Month JPY LIBOR	Receive	0.27% Semiannual		11/08/2027		955,100		(131	)	—		(131	)
Consumer Price All Urban Non-Seasonally	Receive	2.23% Annual		09/18/2020	$	77,085		(1,037	)	2		(1,035	)
Adjusted Index
Consumer Price All Urban Non-Seasonally	Receive	2.31% Annual		10/12/2020		40,215		(582	)	1		(581	)
Adjusted Index
Consumer Price All Urban Non-Seasonally	Receive	2.25% Annual		10/30/2028		17,395		(330	)	1		(329	)
Adjusted Index
Consumer Price All Urban Non-Seasonally	Pay	2.16% Annual		10/30/2023		17,395		229		1		230
Adjusted Index
Harmonised Indices of Consumer Prices Excluding	Receive	1.55% Annual		07/15/2023	EUR	12,735		(230	)	(2	)	(232	)
Food and Energy
Harmonised Indices of Consumer Prices Excluding	Pay	1.97% Annual		01/15/2048		1,940		164		—		164
Food and Energy
Harmonised Indices of Consumer Prices Excluding	Receive	1.30% Annual		01/15/2029		6,375		(2	)	—		(2	)
Food and Energy
Harmonised Indices of Consumer Prices Excluding	Pay	1.99% Annual		01/15/2048		1,940		180		(1	)	179
Food and Energy
Harmonised Indices of Consumer Prices Excluding	Pay	1.98% Annual		06/15/2048		1,925		160		2		162
Food and Energy
Harmonised Indices of Consumer Prices Excluding	Receive	1.38% Annual		04/15/2023		12,840		(141	)	(5	)	(146	)
Food and Energy
Harmonised Indices of Consumer Prices Excluding	Pay	1.83% Annual		05/15/2047		2,120		75		3		78
Food and Energy

See accompanying notes.

116

Schedule of Investments
Inflation Protection Fund
January 31, 2019 (unaudited)
Exchange Cleared Interest Rate Swaps (continued)
		(Pay)/										Unrealized				Upfront
		Receive			Payment									Appreciation/				Payments/
Floating Rate Index		Floating Rate	Fixed Rate		Frequency		Maturity Date			Notional Amount				(Depreciation)				(Receipts)		Fair Value
Harmonised Indices of Consumer Prices Excluding		Pay	1.90	%	Annual		12/15/2048		EUR		1,950		$	102	$			— $		102
Food and Energy
New Zealand Bank Bill 3 Month FRA		Receive	2.59	%	Quarterly		03/20/2029		NZD		1,646			(5	)			—		(5	)
New Zealand Bank Bill 3 Month FRA		Receive	2.55	%	Quarterly		01/30/2029				3,086			(7	)			—		(7	)
New Zealand Bank Bill 3 Month FRA		Receive	2.58	%	Quarterly		03/20/2029				3,084			(8	)			1		(7	)
New Zealand Bank Bill 3 Month FRA		Receive	2.55	%	Quarterly		01/30/2029				5,400			(12	)			—		(12	)
New Zealand Bank Bill 3 Month FRA		Receive	2.80	%	Quarterly		03/20/2029				47,180			(751	)			(12	)	(763	)
United Kingdom Retail Prices Index		Receive	3.48	%	Annual		09/15/2023		GBP		17,850			(99	)			5		(94	)
United Kingdom Retail Prices Index		Receive	3.45	%	Annual		10/15/2023				9,490			(84	)			1		(83	)
United Kingdom Retail Prices Index		Pay	3.41	%	Annual		01/15/2028				16,640			(74	)			(20	)	(94	)
United Kingdom Retail Prices Index		Pay	3.45	%	Annual		10/15/2023				10,750			93				(2	)	91
United Kingdom Retail Prices Index		Pay	3.55	%	Annual		11/15/2032				15,015			352				(37	)	315
United Kingdom Retail Prices Index		Pay	3.51	%	Annual		10/15/2028				9,490			123				(2	)	121
United Kingdom Retail Prices Index		Receive	3.58	%	Annual		12/15/2023				10,965			(140	)			(1	)	(141	)
United Kingdom Retail Prices Index		Receive	3.46	%	Annual		11/15/2027				15,015			(78	)			25		(53	)
United Kingdom Retail Prices Index		Receive	3.55	%	Annual		11/15/2047				9,045			(996	)			26		(970	)
United Kingdom Retail Prices Index		Pay	3.60	%	Annual		11/15/2042				9,045			728				(28	)	700
United Kingdom Retail Prices Index		Pay	3.39	%	Annual		08/15/2028				9,910			(129	)			(6	)	(135	)
United Kingdom Retail Prices Index		Receive	3.35	%	Annual		08/15/2023				21,840			100				7		107
United Kingdom Retail Prices Index		Pay	3.34	%	Annual		06/15/2028				2,865			(61	)			(1	)	(62	)
United Kingdom Retail Prices Index		Pay	3.36	%	Annual		08/15/2023				63,615			(273	)			(15	)	(288	)
United Kingdom Retail Prices Index		Pay	3.40	%	Annual		08/15/2028				19,680			(205	)			(16	)	(221	)
United Kingdom Retail Prices Index		Pay	3.44	%	Annual		08/15/2048				2,185			56				1		57
United Kingdom Retail Prices Index		Receive	3.36	%	Annual		08/15/2023				21,835			89				7		96
United Kingdom Retail Prices Index		Receive	3.26	%	Annual		05/15/2023				21,485			217				6		223
United Kingdom Retail Prices Index		Receive	3.41	%	Annual		03/15/2048				1,915			(11	)			(3	)	(14	)
United Kingdom Retail Prices Index		Receive	3.48	%	Annual		01/15/2029				8,715			(12	)			1		(11	)
United Kingdom Retail Prices Index		Pay	3.41	%	Annual		01/15/2024				8,715			(9	)			1		(8	)
United Kingdom Retail Prices Index		Receive	3.43	%	Annual		08/15/2048					300		(6	)			—		(6	)
United Kingdom Retail Prices Index		Receive	3.47	%	Annual		09/15/2048				4,000			(213	)			20		(193	)
United Kingdom Retail Prices Index		Pay	3.50	%	Annual		09/15/2028				17,850			117				(8	)	109
Total												$		(3,925	)$			(82	)$	(4,007	)
Amounts in thousands.
Purchased Capped Options
						Pay/Receive								Upfront				Unrealized
						Floating		Notional						Expiration		Payments/		Appreciation/
Description	Counterparty		Range			Rate		Amount	Exercise Rate					Date		(Premiums)		Fair Value		(Depreciation)
Call - 5Y-10Y CMS Index Cap	Morgan Stanley	Max (0, 5Y CMS-0.14%)				Receive $		79,400	0.14	%		04/11/2019			$	22	$	18	$	(4	)
	& Co
Call - 5Y-30Y CMS Index Cap	Deutsche Bank	Max(0, 5Y CMS-0.21%)				Receive		49,000	0.21	%		03/01/2019				6		37		31
	AG
Total														$		28	$	55	$	27
Written Capped Options
						Pay/Receive								Upfront				Unrealized
						Floating		Notional						Expiration		Payments/		Appreciation/
Description	Counterparty		Range			Rate		Amount	Exercise Rate					Date		(Premiums)		Fair Value		(Depreciation)
Call - 5Y-30Y CMS Index Cap	Deutsche Bank	Max(0, 5Y CMS-0.31%)					$	49,000	0.31	%		03/01/2019			$	(1	)$	(6	)$	(5	)
	AG				Receive
Total														$		(1	)$	(6	)$	(5	)
Amounts in thousands.

See accompanying notes.

117

     Schedule of Investments International Emerging Markets Fund January 31, 2019 (unaudited)

COMMON STOCKS - 95.85%	Shares Held Value (000's)			COMMON STOCKS (continued)	Shares Held Value (000’s)
Agriculture - 0.56%				Diversified Financial Services (continued)
KT&G Corp	49,688	$	4,424	Muthoot Finance Ltd		399,009	$	2,811
Apparel - 0.80%				Old Mutual Ltd	3,562,909			6,290
Eclat Textile Co Ltd	338,000		3,885	Shinhan Financial Group Co Ltd		185,342		7,169
Feng TAY Enterprise Co Ltd	375,000		2,390			$		40,151
	$		6,275	Electric - 0.87%
Automobile Manufacturers - 2.05%				China Longyuan Power Group Corp Ltd	6,037,000			4,519
Geely Automobile Holdings Ltd	1,845,000		3,139	China Resources Power Holdings Co Ltd	1,146,000			2,297
Guangzhou Automobile Group Co Ltd	2,066,000		2,244			$		6,816
Hyundai Motor Co	47,201		5,503	Electrical Components & Equipment - 0.59%
Kia Motors Corp	157,542		5,151	Delta Electronics Inc		922,000		4,607
	$		16,037	Engineering & Construction - 1.76%
Automobile Parts & Equipment - 1.23%				China Railway Construction Corp Ltd	6,595,000			9,158
Weichai Power Co Ltd	7,171,000		9,678	Larsen & Toubro Ltd		250,825		4,642
Banks - 17.13%						$		13,800
Axis Bank Ltd (a)	474,649		4,823	Food - 2.62%
Banco do Brasil SA	346,200		4,926	Marico Ltd		540,442		2,790
Banco Santander Brasil SA	359,800		4,746	Nestle India Ltd		18,259		2,956
Bangkok Bank PCL	1,354,200		9,600	Uni-President Enterprises Corp	3,859,000			9,145
Bank Rakyat Indonesia Persero Tbk PT	23,874,800		6,618	X5 Retail Group NV		215,375		5,682
China Construction Bank Corp	19,929,722		17,953			$		20,573
Credicorp Ltd	62,565		15,189	Forest Products & Paper - 1.25%
FirstRand Ltd	898,495		4,721	Mondi PLC		194,475		4,703
Grupo Financiero Banorte SAB de CV	1,394,800		7,757	Suzano Papel e Celulose SA		403,500		5,087
HDFC Bank Ltd	107,617		3,150			$		9,790
ICICI Bank Ltd	821,615		4,221	Gas - 0.68%
Industrial & Commercial Bank of China Ltd	16,046,000		12,466	GAIL India Ltd		582,687		2,727
Industrial Bank Co Ltd	1,117,097		2,747	Perusahaan Gas Negara Persero Tbk	13,931,600			2,574
Kiatnakin Bank PCL	1,776,700		3,905			$		5,301
Malayan Banking Bhd	2,647,900		6,177	Healthcare - Services - 0.41%
OTP Bank Nyrt	180,708		7,455	Bangkok Dusit Medical Services PCL	4,291,000			3,244
Postal Savings Bank of China Co Ltd (b)	3,837,000		2,159
PT Bank Central Asia Tbk	1,946,000		3,937	Holding Companies - Diversified - 0.28%
Sberbank of Russia PJSC ADR	863,159		11,738	Haci Omer Sabanci Holding AS	1,215,718			2,207
	$		134,288	Home Furnishings - 0.50%
Beverages - 0.56%				Haier Electronics Group Co Ltd	1,373,000			3,944
Jiangsu Yanghe Brewery Joint-Stock Co Ltd	309,486		4,388	Insurance - 3.26%
Building Materials - 1.90%				AIA Group Ltd		866,600		7,825
Anhui Conch Cement Co Ltd	832,283		4,055	Cathay Financial Holding Co Ltd	2,999,000			4,313
China National Building Material Co Ltd	5,122,000		4,087	IRB Brasil Resseguros S/A		196,200		4,587
Xinyi Glass Holdings Ltd	5,570,000		6,785	Powszechny Zaklad Ubezpieczen SA		737,897		8,867
	$		14,927			$		25,592
Chemicals - 0.93%				Internet - 15.12%
Lotte Chemical Corp	12,682		3,430	Alibaba Group Holding Ltd ADR(a)		224,987		37,908
Sasol Ltd	127,940		3,871	Autohome Inc ADR(a)		17,993		1,302
	$		7,301	Baidu Inc ADR(a)		32,398		5,593
				Naspers Ltd		75,597		17,488
Coal - 0.88%				Pinduoduo Inc ADR(a)		181,861		5,312
China Shenhua Energy Co Ltd	1,954,500		4,974	Tencent Holdings Ltd	1,046,000			46,562
Yanzhou Coal Mining Co Ltd	2,126,000		1,955	Weibo Corp ADR(a)		71,713		4,350
	$		6,929			$		118,515
Commercial Services - 1.17%				Iron & Steel - 1.96%
CCR SA	857,100		3,498	POSCO		37,641		9,292
New Oriental Education & Technology Group Inc	36,304		2,797	Vale SA		485,289		6,060
ADR(a)						$		15,352
TAL Education Group ADR(a)	92,838		2,881
	$		9,176	Machinery - Construction & Mining - 1.12%
				Doosan Infracore Co Ltd (a)		622,080		4,863
Computers - 2.31%				United Tractors Tbk PT	2,101,600			3,876
Infosys Ltd	969,680		10,219			$		8,739
Tata Consultancy Services Ltd	277,065		7,859
	$		18,078	Mining - 1.13%
Distribution & Wholesale - 0.42%				Anglo American PLC		346,931		8,866
Posco Daewoo Corp	24,651		445	Oil & Gas - 8.45%
Sime Darby Bhd	5,221,800		2,869	China Petroleum & Chemical Corp	9,462,000			7,912
	$		3,314	CNOOC Ltd	1,988,000			3,323
				Kunlun Energy Co Ltd	3,158,000			3,374
Diversified Financial Services - 5.12%				LUKOIL PJSC ADR		250,784		20,137
Capitec Bank Holdings Ltd	54,786		4,833	Petroleo Brasileiro SA		476,300		3,864
CTBC Financial Holding Co Ltd	12,708,000		8,653	Polski Koncern Naftowy ORLEN SA		107,865		3,039
Hana Financial Group Inc	114,360		4,112	PTT PCL	6,720,300			10,553
Housing Development Finance Corp Ltd	231,879		6,283

See accompanying notes.

118

Schedule of Investments
International Emerging Markets Fund
January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)			(a)	Non-income producing security
Oil & Gas (continued)				(b)	Security exempt from registration under Rule 144A of the Securities Act of
Reliance Industries Ltd	808,697	$	14,008		1933. These securities may be resold in transactions exempt from registration,
	$		66,210		normally to qualified institutional buyers. At the end of the period, the value of
Pharmaceuticals - 0.62%					these securities totaled $2,159 or 0.28% of net assets.
Hypera SA	552,600		4,827	(c)	Affiliated Security. Security is either an affiliate (and registered under the
Real Estate - 2.40%					Investment Company Act of 1940) or an affiliate as defined by the Investment
China Resources Land Ltd	1,202,000		4,690		Company Act of 1940 (controls 5.0% or more of the outstanding voting
Guangzhou R&F Properties Co Ltd	1,463,200		2,919		shares of the security). Please see affiliated sub-schedule for transactional
Shimao Property Holdings Ltd	979,500		2,789		information.
Sunac China Holdings Ltd	2,113,000		8,416	(d)	Current yield shown is as of period end.
	$		18,814
Retail - 2.18%					Portfolio Summary  (unaudited)
ANTA Sports Products Ltd	642,000		3,321	Country		Percent
Atacadao Distribuicao Comercio e Industria Ltda	501,800		2,751	China		28.65	%
Wal-Mart de Mexico SAB de CV	4,193,600		11,016	Korea, Republic Of		11.92	%
	$		17,088	Taiwan, Province Of China		10.14	%
Semiconductors - 11.62%				Brazil		8.69	%
Chipbond Technology Corp	2,404,000		5,342	India		8.48	%
Realtek Semiconductor Corp	901,000		4,937	Hong Kong		6.08	%
Samsung Electronics Co Ltd	1,008,023		42,029	Russian Federation		4.79	%
SK Hynix Inc	68,591		4,587	South Africa		4.74	%
Taiwan Semiconductor Manufacturing Co Ltd	4,607,685		34,180	Thailand		3.48	%
	$		91,075	Mexico		2.40	%
Telecommunications - 3.68%				Indonesia		2.17	%
Accton Technology Corp	569,000		2,048	Peru		1.94	%
China Mobile Ltd	1,521,000		15,997	United Kingdom		1.73	%
China Telecom Corp Ltd	15,614,000		8,477	Poland		1.52	%
SK Telecom Co Ltd	9,959		2,305	Malaysia		1.15	%
	$		28,827	Hungary		0.95	%
Textiles - 0.29%				Turkey		0.28	%
Cia Hering	263,800		2,258	United States		0.11	%
TOTAL COMMON STOCKS	$		751,411	Other Assets and Liabilities		0.78	%
INVESTMENT COMPANIES - 0.11%	Shares Held Value (000's)			TOTAL NET ASSETS		100.00	%
Money Market Funds - 0.11%
Principal Government Money Market Fund	879,358		879
2.32%(c),(d)
TOTAL INVESTMENT COMPANIES	$		879
PREFERRED STOCKS - 3.26%	Shares Held Value (000's)
Banks - 1.47%
Banco Bradesco SA 0.19%	927,100	$	11,512
Holding Companies - Diversified - 1.19%
Itausa - Investimentos Itau SA 0.08%	2,516,513		9,321
Oil & Gas - 0.60%
Petroleo Brasileiro SA 0.00% (a)	674,700		4,740
TOTAL PREFERRED STOCKS	$		25,573
Total Investments	$		777,863
Other Assets and Liabilities -  0.78%			6,118
TOTAL NET ASSETS - 100.00%	$		783,981

Affiliated Securities		October 31, 2018		Purchases			Sales		January 31, 2019
		Value			Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	36,392	$		93,877	$	129,390	$		879
	$	36,392	$		93,877	$	129,390	$		879
				Realized Gain/Loss			Realized Gain from		Change in Unrealized
		Income		on Investments	Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	90	$	— $			— $		—
	$	90	$	— $			— $		—
Amounts in thousands

See accompanying notes.

119

Schedule of Investments
International Fund I
January 31, 2019 (unaudited)
COMMON STOCKS - 95.96%	Shares Held  Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Advertising - 0.75%					Electronics - 2.17%
Hakuhodo DY Holdings Inc		179,000	$	2,755	Halma PLC		113,000	$	2,078
Aerospace & Defense - 0.83%					Murata Manufacturing Co Ltd		14,000		2,103
MTU Aero Engines AG		14,157		3,053	Zhen Ding Technology Holding Ltd	1,429,000			3,756
Apparel - 2.52%							$		7,937
Kering SA		6,011		3,015	Engineering & Construction - 2.45%
LVMH Moet Hennessy Louis Vuitton SE		9,878		3,169	COMSYS Holdings Corp		81,508		2,129
Moncler SpA		80,900		3,044	Grupo Aeroportuario del Centro Norte SAB de		311,000		1,737
		$		9,228	CV
Automobile Manufacturers - 1.76%					HomeServe PLC		196,000		2,426
Geely Automobile Holdings Ltd	1,799,200			3,061	Kyowa Exeo Corp		109,500		2,691
Toyota Motor Corp		55,000		3,385			$		8,983
		$		6,446	Entertainment - 1.45%
Automobile Parts & Equipment - 0.52%					Betsson AB (a)		225,000		2,072
Weichai Power Co Ltd	1,422,000			1,919	Cineworld Group PLC		511,000		1,754
Banks - 7.24%					Kindred Group PLC		143,100		1,473
Bank of Communications Co Ltd	2,096,000			1,782			$		5,299
China Construction Bank Corp	2,931,800			2,641	Food - 1.91%
China Merchants Bank Co Ltd		958,500		4,226	a2 Milk Co Ltd (a)		365,300		3,213
DBS Group Holdings Ltd		183,900		3,277	Greencore Group PLC		827,000		2,097
Fukuoka Financial Group Inc		84,220		1,860	Salmar ASA		32,500		1,702
HSBC Holdings PLC		292,800		2,480			$		7,012
Macquarie Group Ltd		27,346		2,326	Forest Products & Paper - 0.63%
Royal Bank of Canada		35,000		2,664	Mondi PLC		96,000		2,322
Sberbank of Russia PJSC ADR		239,243		3,253	Gas - 2.16%
United Overseas Bank Ltd		106,600		1,998	China Resources Gas Group Ltd		458,000		1,802
		$		26,507	ENN Energy Holdings Ltd		637,400		6,105
Building Materials - 3.01%							$		7,907
Anhui Conch Cement Co Ltd		875,400		4,774	Home Builders - 2.14%
China Resources Cement Holdings Ltd	2,967,000			3,013	Berkeley Group Holdings PLC		45,783		2,254
Sika AG		24,460		3,230	Haseko Corp		149,800		1,662
		$		11,017	Persimmon PLC		125,500		3,915
Chemicals - 1.83%							$		7,831
Indorama Ventures PCL	1,267,000			1,954	Home Furnishings - 1.90%
Nissan Chemical Corp		40,500		2,153	Howden Joinery Group PLC		358,000		2,375
Petronas Chemicals Group Bhd	1,263,000			2,610	Sony Corp		91,500		4,585
		$		6,717			$		6,960
Coal - 2.49%					Insurance - 9.87%
China Shenhua Energy Co Ltd	1,464,500			3,727	Allianz SE		20,623		4,376
Exxaro Resources Ltd		186,000		2,168	ASR Nederland NV		65,000		2,742
Whitehaven Coal Ltd		893,000		3,232	CNP Assurances		86,400		1,963
		$		9,127	Genworth MI Canada Inc		58,000		1,974
Commercial Services - 4.49%					Legal & General Group PLC	1,098,230			3,742
Ashtead Group PLC		199,137		5,051	Ping An Insurance Group Co of China Ltd		333,100		3,243
Estacio Participacoes SA		255,000		2,176	Porto Seguro SA		274,000		4,213
Intertek Group PLC		32,818		2,118	Prudential PLC		90,838		1,776
Localiza Rent a Car SA		303,000		2,770	Sompo Holdings Inc		57,000		2,149
Pagegroup PLC		443,962		2,574	Swiss Life Holding AG (a)		10,664		4,399
QinetiQ Group PLC		439,000		1,747	Tokio Marine Holdings Inc		114,000		5,582
		$		16,436			$		36,159
Computers - 4.99%					Internet - 1.06%
Bechtle AG		21,500		1,711	Alibaba Group Holding Ltd ADR(a)		23,100		3,892
CGI Group Inc (a)		26,500		1,752	Iron & Steel - 3.41%
Infosys Ltd ADR		483,000		5,216	Evraz PLC		374,000		2,450
Lenovo Group Ltd	3,801,000			2,775	Ferrexpo PLC		542,000		1,841
Nomura Research Institute Ltd		73,300		2,999	Kumba Iron Ore Ltd		102,518		2,639
Teleperformance		22,322		3,842	Severstal PJSC		179,300		2,738
		$		18,295	Vale SA		226,000		2,822
Distribution & Wholesale - 0.50%							$		12,490
Toyota Tsusho Corp		57,600		1,832	Leisure Products & Services - 0.46%
Diversified Financial Services - 4.04%					BRP Inc		58,000		1,669
B3 SA - Brasil Bolsa Balcao		215,000		1,857	Machinery - Construction & Mining - 0.88%
Chailease Holding Co Ltd		757,860		2,831	Komatsu Ltd		122,000		3,213
E.Sun Financial Holding Co Ltd	3,015,000			2,113	Media - 1.52%
Mitsubishi UFJ Lease & Finance Co Ltd		455,000		2,329	Informa PLC		226,000		2,007
ORIX Corp		132,000		1,991	Quebecor Inc		151,000		3,555
Partners Group Holding AG		5,370		3,693			$		5,562
		$		14,814

See accompanying notes.

120

Schedule of Investments
International Fund I
January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held Value (000’s)				(a)	Non-income producing security
Mining - 4.68%					(b)	Affiliated Security. Security is either an affiliate (and registered under the
Anglo American PLC		237,000	$	6,057		Investment Company Act of 1940) or an affiliate as defined by the Investment
MMC Norilsk Nickel PJSC ADR		93,000		1,954		Company Act of 1940 (controls 5.0% or more of the outstanding voting
Northern Star Resources Ltd		687,000		4,391		shares of the security). Please see affiliated sub-schedule for transactional
Rio Tinto PLC		86,000		4,758		information.
		$		17,160	(c)	Current yield shown is as of period end.
Miscellaneous Manufacturers - 1.17%
Alfa Laval AB		110,000		2,494		Portfolio Summary  (unaudited)
Vesuvius PLC		245,000		1,809	Country		Percent
		$		4,303	Japan		16.57	%
Oil & Gas - 5.28%					United Kingdom		15.21	%
Beach Energy Ltd	2,160,000			2,841	China		12.43	%
CNOOC Ltd	1,650,000			2,758	Switzerland		6.20	%
LUKOIL PJSC ADR		33,000		2,650	Canada		5.97	%
Novatek PJSC		15,000		2,754	Russian Federation		5.19	%
Parex Resources Inc (a)		145,000		2,174	Taiwan, Province Of China		4.52	%
PTT PCL	1,864,000			2,927	Brazil		3.78	%
Tatneft PJSC ADR		44,000		3,234	Australia		3.49	%
		$		19,338	United States		3.48	%
Pharmaceuticals - 4.45%					France		3.28	%
Alfresa Holdings Corp		61,000		1,681	Germany		2.48	%
Astellas Pharma Inc		175,000		2,597	Hong Kong		2.26	%
Roche Holding AG		23,900		6,358	Singapore		1.44	%
Sawai Pharmaceutical Co Ltd		33,000		1,701	India		1.42	%
Shionogi & Co Ltd		37,000		2,282	Thailand		1.33	%
TCI Co Ltd		114,000		1,675	South Africa		1.31	%
		$		16,294	Sweden		1.25	%
Retail - 2.94%					Korea, Republic Of		1.13	%
Alimentation Couche-Tard Inc		71,500		3,884	New Zealand		0.88	%
ANTA Sports Products Ltd		467,600		2,419	Israel		0.84	%
JD Sports Fashion PLC		379,300		2,307	Italy		0.83	%
Next PLC		34,000		2,162	Spain		0.79	%
		$		10,772	Netherlands		0.75	%
Semiconductors - 2.81%					Malaysia		0.71	%
Realtek Semiconductor Corp		480,000		2,630	Ireland		0.57	%
Samsung Electronics Co Ltd		98,864		4,122	Mexico		0.47	%
Taiwan Semiconductor Manufacturing Co Ltd		93,700		3,525	Norway		0.46	%
ADR					Malta		0.40	%
		$		10,277	Other Assets and Liabilities		0.56	%
Shipbuilding - 0.59%					TOTAL NET ASSETS		100.00	%
Yangzijiang Shipbuilding Holdings Ltd	2,049,000			2,142
Software - 3.08%
Amadeus IT Group SA		40,000		2,909
Constellation Software Inc/Canada		3,300		2,463
Temenos AG (a)		23,494		3,171
TIS Inc		61,000		2,746
		$		11,289
Telecommunications - 2.47%
China Mobile Ltd		332,000		3,492
KDDI Corp		99,000		2,473
Nice Ltd ADR(a)		27,900		3,068
		$		9,033
Toys, Games & Hobbies - 1.05%
Bandai Namco Holdings Inc		87,000		3,843
Transportation - 0.46%
TFI International Inc		57,000		1,678
TOTAL COMMON STOCKS		$		351,511
INVESTMENT COMPANIES - 3.48%	Shares Held Value (000's)
Money Market Funds - 3.48%
Principal Government Money Market Fund	12,757,573			12,758
2.32%(b),(c)
TOTAL INVESTMENT COMPANIES		$		12,758
Total Investments		$		364,269
Other Assets and Liabilities -  0.56%				2,061
TOTAL NET ASSETS - 100.00%		$		366,330

See accompanying notes.

121

Schedule of Investments
International Fund I
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018		Purchases			Sales		January 31, 2019
		Value		Cost			Proceeds		Value
Principal Government Money Market Fund 2.32%	$	901	$	58,487	$		46,630	$		12,758
	$	901	$	58,487	$		46,630	$		12,758
				Realized Gain/Loss			Realized Gain from		Change in Unrealized
		Income		on Investments		Capital Gain Distributions			Gain/Loss
Principal Government Money Market Fund 2.32%	$	28	$	— $			— $		—
	$	28	$	— $			— $		—
Amounts in thousands

See accompanying notes.

122

Schedule of Investments
LargeCap Growth Fund
January 31, 2019 (unaudited)

COMMON STOCKS - 97.75%	Shares Held    Value (000's)				COMMON STOCKS (continued)		Shares Held Value (000’s)
Apparel - 2.04%					Retail (continued)
NIKE Inc		134,800	$	11,038	Ulta Beauty Inc (a)		29,192	$	8,522
Banks - 2.19%							$		50,263
SVB Financial Group (a)		50,699		11,832	Semiconductors - 4.66%
Beverages - 2.10%					Analog Devices Inc		53,500		5,289
Coca-Cola Co/The		235,700		11,344	Intel Corp		172,100		8,110
Biotechnology - 2.17%					Xilinx Inc		105,200		11,776
Vertex Pharmaceuticals Inc (a)		61,258		11,695			$		25,175
Chemicals - 1.74%					Software - 7.59%
CF Industries Holdings Inc		214,700		9,372	Microsoft Corp		262,697		27,433
Commercial Services - 2.63%					ServiceNow Inc (a)		61,512		13,534
PayPal Holdings Inc (a)		58,700		5,210			$		40,967
Worldpay Inc (a)		107,800		8,999	Telecommunications - 3.73%
		$		14,209	Cisco Systems Inc		275,900		13,047
Computers - 3.24%					T-Mobile US Inc (a)		101,800		7,088
Apple Inc		105,000		17,476			$		20,135
Cosmetics & Personal Care - 4.00%					Transportation - 1.22%
Estee Lauder Cos Inc/The		75,640		10,319	CSX Corp		100,300		6,590
Procter & Gamble Co/The		116,900		11,277	TOTAL COMMON STOCKS		$		527,610
		$		21,596	INVESTMENT COMPANIES - 2.52%		Shares Held Value (000's)
Diversified Financial Services - 6.79%					Money Market Funds - 2.52%
Mastercard Inc		82,608		17,441	Principal Government Money Market Fund		13,624,370		13,624
Visa Inc		142,233		19,203	2.32%(b),(c)
					TOTAL INVESTMENT COMPANIES		$		13,624
		$		36,644	Total Investments		$		541,234
Engineering & Construction - 0.52%					Other Assets and Liabilities -  (0.27)%				(1,479	)
Jacobs Engineering Group Inc		42,900		2,780	TOTAL NET ASSETS - 100.00%		$		539,755
Entertainment - 0.67%
Live Nation Entertainment Inc (a)		67,900		3,633
Healthcare - Products - 11.25%					(a)	Non-income producing security
Abbott Laboratories		125,700		9,174	(b)	Affiliated Security. Security is either an affiliate (and registered under the
ABIOMED Inc (a)		24,900		8,742		Investment Company Act of 1940) or an affiliate as defined by the Investment
Boston Scientific Corp (a)		303,800		11,590		Company Act of 1940 (controls 5.0% or more of the outstanding voting
Intuitive Surgical Inc (a)		32,441		16,987		shares of the security). Please see affiliated sub-schedule for transactional
Thermo Fisher Scientific Inc		57,958		14,238		information.
		$		60,731	(c)	Current yield shown is as of period end.
Healthcare - Services - 0.72%
WellCare Health Plans Inc (a)		14,100		3,898		Portfolio Summary  (unaudited)
Internet - 18.08%					Sector				Percent
Alphabet Inc - A Shares (a)		24,522		27,609	Consumer, Non-cyclical				28.32	%
Amazon.com Inc (a)		14,871		25,559	Communications				21.81	%
GrubHub Inc (a)		102,000		8,201	Technology				17.94	%
Netflix Inc (a)		34,538		11,726	Consumer, Cyclical				12.51	%
RingCentral Inc (a)		136,400		12,609	Financial				8.98	%
Twitter Inc (a)		354,100		11,883	Industrial				5.42	%
		$		97,587	Investment Companies				2.52	%
Leisure Products & Services - 0.49%					Basic Materials				1.74	%
Royal Caribbean Cruises Ltd		22,200		2,665	Energy				1.03	%
Machinery - Construction & Mining - 1.42%					Other Assets and Liabilities				(0.27	)%
Caterpillar Inc		57,484		7,655	TOTAL NET ASSETS				100.00	%
Machinery - Diversified - 2.26%
Deere & Co		74,270		12,180
Office & Business Equipment - 2.45%
Zebra Technologies Corp (a)		76,100		13,211
Oil & Gas - 1.03%
Diamondback Energy Inc		53,704		5,538
Pharmaceuticals - 5.45%
DexCom Inc (a)		67,800		9,562
Eli Lilly & Co		103,000		12,346
Sarepta Therapeutics Inc (a)		53,600		7,488
		$		29,396
Retail - 9.31%
Chipotle Mexican Grill Inc (a)		16,700		8,844
Five Below Inc (a)		72,900		9,020
Lululemon Athletica Inc (a)		50,100		7,405
Starbucks Corp		106,000		7,223
Target Corp		126,700		9,249

See accompanying notes.

123

Schedule of Investments
LargeCap Growth Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018		Purchases			Sales		January 31, 2019
		Value			Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	13,063	$		92,953	$	92,392	$		13,624
	$	13,063	$		92,953	$	92,392	$		13,624
				Realized Gain/Loss			Realized Gain from		Change in Unrealized
		Income		on Investments	Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	55	$	— $			— $		—
	$	55	$	— $			— $		—
Amounts in thousands

See accompanying notes.

124

Schedule of Investments
LargeCap Growth Fund I
January 31, 2019 (unaudited)
COMMON STOCKS - 98.04%	Shares Held Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Advertising - 0.01%					Biotechnology - 1.69%
Interpublic Group of Cos Inc/The		5,799	$	132	Alexion Pharmaceuticals Inc (a)		175,280	$	21,552
Omnicom Group Inc		12,278		956	Alnylam Pharmaceuticals Inc (a)		6,101		510
		$		1,088	Amgen Inc		46,652		8,729
Aerospace & Defense - 3.61%					Biogen Inc (a)		14,808		4,943
Boeing Co/The		569,291		219,530	BioMarin Pharmaceutical Inc (a)		13,649		1,340
Curtiss-Wright Corp		1,198		136	Bluebird Bio Inc (a)		2,922		390
General Dynamics Corp		6,692		1,145	Celgene Corp (a)		54,498		4,821
Harris Corp		9,777		1,498	Exact Sciences Corp (a)		9,247		833
HEICO Corp		4,077		344	Exelixis Inc (a)		22,663		534
HEICO Corp - Class A		6,808		477	Gilead Sciences Inc		74,888		5,243
Lockheed Martin Corp		13,042		3,778	Illumina Inc (a)		8,444		2,362
Northrop Grumman Corp		153,481		42,292	Incyte Corp (a)		13,565		1,093
Raytheon Co		26,158		4,310	Ionis Pharmaceuticals Inc (a)		9,638		559
Spirit AeroSystems Holdings Inc		278,174		23,199	Regeneron Pharmaceuticals Inc (a)		42,667		18,315
TransDigm Group Inc (a)		3,943		1,542	Sage Therapeutics Inc (a)		3,504		500
		$		298,251	Seattle Genetics Inc (a)		8,540		653
Agriculture - 0.54%					Vertex Pharmaceuticals Inc (a)		351,626		67,129
Altria Group Inc		172,727		8,524			$		139,506
Philip Morris International Inc		463,768		35,580	Building Materials - 0.04%
		$		44,104	Armstrong World Industries Inc		4,703		320
Airlines - 0.05%					Eagle Materials Inc		3,334		237
Delta Air Lines Inc		32,681		1,616	Lennox International Inc		2,962		679
Southwest Airlines Co		48,929		2,777	Martin Marietta Materials Inc		4,507		796
		$		4,393	Masco Corp		18,274		592
Apparel - 0.51%					Vulcan Materials Co		9,575		974
Capri Holdings Ltd (a)		7,655		325			$		3,598
Carter's Inc		4,165		345	Chemicals - 1.59%
Columbia Sportswear Co		571		51	Axalta Coating Systems Ltd (a)		6,840		175
Hanesbrands Inc		31,828		477	Celanese Corp		6,735		645
NIKE Inc		478,709		39,196	Chemours Co/The		13,981		500
Skechers U.S.A. Inc (a)		7,682		209	FMC Corp		4,341		346
Under Armour Inc - Class A (a)		12,226		254	International Flavors & Fragrances Inc		3,806		540
Under Armour Inc - Class C (a)		12,761		242	Linde PLC		18,752		3,057
VF Corp		14,295		1,203	LyondellBasell Industries NV		15,586		1,355
		$		42,302	NewMarket Corp		583		234
Automobile Manufacturers - 0.27%					PPG Industries Inc		3,748		395
Tesla Inc (a)		71,266		21,880	RPM International Inc		2,373		136
					Sherwin-Williams Co/The		291,794		122,997
Automobile Parts & Equipment - 0.61%					Univar Inc (a)		4,205		88
Allison Transmission Holdings Inc		10,868		529	Versum Materials Inc		10,613		390
Aptiv PLC		615,928		48,738	Westlake Chemical Corp		2,766		204
Garrett Motion Inc (a)		6,656		106	WR Grace & Co		3,884		276
Lear Corp		1,066		164			$		131,338
Visteon Corp (a)		2,373		183
WABCO Holdings Inc (a)		4,800		548	Commercial Services - 4.99%
		$		50,268	Automatic Data Processing Inc		53,797		7,523
					Booz Allen Hamilton Holding Corp		12,758		627
Banks - 0.33%					Bright Horizons Family Solutions Inc (a)		4,031		467
BOK Financial Corp		503		42	Cintas Corp		555,142		104,095
Comerica Inc		1,332		105	CoreLogic Inc/United States (a)		5,864		213
East West Bancorp Inc		1,105		56	CoStar Group Inc (a)		3,027		1,183
Morgan Stanley		574,610		24,306	Ecolab Inc		10,039		1,588
Northern Trust Corp		4,793		424	Euronet Worldwide Inc (a)		3,055		351
Pinnacle Financial Partners Inc		3,206		172	FleetCor Technologies Inc (a)		234,434		47,311
Signature Bank/New York NY		2,794		356	Gartner Inc (a)		7,748		1,053
State Street Corp		1,370		97	Global Payments Inc		357,840		40,178
SVB Financial Group (a)		3,258		760	Grand Canyon Education Inc (a)		3,894		362
Synovus Financial Corp		4,872		172	H&R Block Inc		5,486		129
Texas Capital Bancshares Inc (a)		3,268		190	MarketAxess Holdings Inc		2,923		628
Western Alliance Bancorp (a)		5,659		251	Moody's Corp		9,587		1,520
		$		26,931	Morningstar Inc		1,602		199
Beverages - 0.99%					PayPal Holdings Inc (a)	2,163,234			192,008
Brown-Forman Corp - A Shares		5,613		264	Quanta Services Inc		5,043		178
Brown-Forman Corp - B Shares	1,214,881			57,403	Robert Half International Inc		10,693		689
Coca-Cola Co/The		170,621		8,212	Rollins Inc		12,372		461
Constellation Brands Inc		8,928		1,550	S&P Global Inc		14,457		2,771
Keurig Dr Pepper Inc		15,638		426	Sabre Corp		22,355		514
Monster Beverage Corp (a)		32,113		1,838	Service Corp International/US		7,427		319
PepsiCo Inc		108,327		12,205	ServiceMaster Global Holdings Inc (a)		12,094		472
		$		81,898	Square Inc (a)		23,902		1,705

See accompanying notes.

125

Schedule of Investments LargeCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Commercial Services (continued)					Electrical Components & Equipment - 0.05%
Total System Services Inc		15,100	$	1,353	AMETEK Inc		4,664	$	340
TransUnion		15,357		934	Emerson Electric Co		45,598		2,985
United Rentals Inc (a)		6,993		876	Energizer Holdings Inc		3,828		182
Verisk Analytics Inc (a)		13,214		1,551	Hubbell Inc		3,423		374
WEX Inc (a)		3,802		613	Littelfuse Inc		1,867		328
Worldpay Inc (a)		1,534		128			$		4,209
		$		411,999	Electronics - 3.18%
Computers - 2.73%					Allegion PLC		7,159		615
Accenture PLC - Class A		67,356		10,343	Amphenol Corp	1,178,842			103,643
Apple Inc		713,845		118,812	Coherent Inc (a)		2,156		255
Cognizant Technology Solutions Corp		30,238		2,107	FLIR Systems Inc		2,275		111
Dell Technologies Inc (a)		2,693		131	Fortive Corp	1,775,515			133,146
EPAM Systems Inc (a)		4,766		674	Gentex Corp		17,448		370
Fortinet Inc (a)		12,572		963	Honeywell International Inc		147,086		21,126
Genpact Ltd	2,858,068			85,256	Mettler-Toledo International Inc (a)		2,019		1,288
International Business Machines Corp		37,967		5,104	National Instruments Corp		7,634		338
NCR Corp (a)		10,448		279	Sensata Technologies Holding PLC (a)		8,596		408
NetApp Inc		21,565		1,375	Waters Corp (a)		5,664		1,310
		$		225,044			$		262,610
Consumer Products - 0.09%					Engineering & Construction - 0.00%
Avery Dennison Corp		6,856		716	frontdoor Inc (a)		6,895		205
Church & Dwight Co Inc		17,098		1,105	Entertainment - 0.01%
Clorox Co/The		9,039		1,341	International Game Technology PLC		2,648		43
Kimberly-Clark Corp		33,708		3,754	Lions Gate Entertainment Corp - A shares		2,061		38
Spectrum Brands Holdings Inc		3,079		172	Lions Gate Entertainment Corp - B shares		2,875		50
		$		7,088	Live Nation Entertainment Inc (a)		11,316		606
Cosmetics & Personal Care - 1.18%							$		737
Colgate-Palmolive Co		9,063		586	Environmental Control - 0.39%
Estee Lauder Cos Inc/The		708,217		96,615	Republic Services Inc		2,129		164
		$		97,201	Waste Connections Inc		344,304		28,770
Distribution & Wholesale - 0.04%					Waste Management Inc		37,444		3,582
Copart Inc (a)		17,056		864			$		32,516
HD Supply Holdings Inc (a)		6,415		269	Food - 0.10%
KAR Auction Services Inc		11,443		595	Campbell Soup Co		11,281		400
LKQ Corp (a)		6,565		172	General Mills Inc		31,960		1,420
Pool Corp		3,220		483	Hershey Co/The		10,723		1,138
WW Grainger Inc		3,819		1,128	Kellogg Co		11,160		658
		$		3,511	McCormick & Co Inc/MD		992		123
Diversified Financial Services - 5.78%					Post Holdings Inc (a)		3,470		322
Air Lease Corp		1,295		49	Sprouts Farmers Market Inc (a)		11,832		284
American Express Co		42,203		4,334	Sysco Corp		56,089		3,581
Ameriprise Financial Inc		2,138		271	US Foods Holding Corp (a)		3,036		102
Capital One Financial Corp		11,757		948			$		8,028
Cboe Global Markets Inc		8,205		765	Forest Products & Paper - 0.00%
Charles Schwab Corp/The	1,414,412			66,152	International Paper Co		3,816		181
CME Group Inc		2,372		432	Healthcare - Products - 8.94%
Credit Acceptance Corp (a)		848		338	ABIOMED Inc (a)		3,410		1,197
Discover Financial Services		12,685		856	Baxter International Inc		3,313		240
E*TRADE Financial Corp		5,349		250	Becton Dickinson and Co		304,579		75,980
Eaton Vance Corp		9,911		382	Bio-Techne Corp		3,180		555
Evercore Inc - Class A		3,653		327	Boston Scientific Corp (a)		60,937		2,325
Intercontinental Exchange Inc		418,155		32,098	Bruker Corp		5,184		182
Lazard Ltd		9,252		368	Cantel Medical Corp		3,393		276
LPL Financial Holdings Inc		7,247		510	Cooper Cos Inc/The		792		221
Mastercard Inc		52,866		11,162	Danaher Corp	1,032,110			114,482
OneMain Holdings Inc		1,440		43	Edwards Lifesciences Corp (a)		560,948		95,597
Raymond James Financial Inc		3,494		281	Henry Schein Inc (a)		2,647		206
Santander Consumer USA Holdings Inc		2,272		43	Hill-Rom Holdings Inc		4,095		410
SEI Investments Co		10,934		520	ICU Medical Inc (a)		1,468		365
Synchrony Financial		21,864		657	IDEXX Laboratories Inc (a)		6,935		1,476
T Rowe Price Group Inc		17,392		1,625	Integra LifeSciences Holdings Corp (a)		5,202		246
TD Ameritrade Holding Corp		505,280		28,270	Intuitive Surgical Inc (a)		423,257		221,635
Virtu Financial Inc		4,206		107	Masimo Corp (a)		4,205		523
Visa Inc	2,411,478			325,573	ResMed Inc		11,530		1,097
Western Union Co/The		15,400		281	Stryker Corp		467,172		82,955
		$		476,642	Teleflex Inc		837		229
Electric - 0.28%					Thermo Fisher Scientific Inc		555,239		136,406
Sempra Energy		196,245		22,957	Varian Medical Systems Inc (a)		7,539		995

See accompanying notes.

126

Schedule of Investments
LargeCap Growth Fund I
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held          Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Healthcare - Products (continued)					Internet (continued)
West Pharmaceutical Services Inc		1,889	$	204	Tencent Holdings Ltd ADR	1,946,357 $		86,827
		$		737,802	TripAdvisor Inc (a)		9,304	534
Healthcare - Services - 3.98%					Twilio Inc (a)		6,649	740
Anthem Inc		170,558		51,679	Twitter Inc (a)		57,432	1,927
Catalent Inc (a)		3,758		139	Uber Technologies Inc - Class A (a),(b),(c),(d)		3,929	192
Centene Corp (a)		192,610		25,149	VeriSign Inc (a)		8,893	1,505
Charles River Laboratories International Inc (a)		3,171		391	Zendesk Inc (a)		9,595	648
Chemed Corp		1,468		437			$	1,683,956
DaVita Inc (a)		5,886		330	Iron & Steel - 0.00%
Encompass Health Corp		8,772		586	Steel Dynamics Inc		3,159	116
HCA Healthcare Inc		449,191		62,631	Leisure Products & Services - 0.01%
Humana Inc		110,147		34,034	Brunswick Corp/DE		2,139	108
Laboratory Corp of America Holdings (a)		1,001		140	Polaris Industries Inc		5,002	419
Molina Healthcare Inc (a)		4,563		607			$	527
UnitedHealth Group Inc		481,766		130,173	Lodging - 0.74%
WellCare Health Plans Inc (a)		78,944		21,827	Choice Hotels International Inc		3,218	255
		$		328,123	Extended Stay America Inc		12,365	211
Home Builders - 0.04%					Hilton Grand Vacations Inc (a)		8,507	258
DR Horton Inc		17,252		663	Hilton Worldwide Holdings Inc		480,552	35,792
Lennar Corp - A Shares		13,722		651	Las Vegas Sands Corp		376,307	21,961
Lennar Corp - B Shares		2,824		108	Marriott International Inc/MD		16,272	1,864
NVR Inc (a)		279		742	MGM Resorts International		4,166	123
PulteGroup Inc		8,875		247	Wyndham Destinations Inc		9,206	388
Thor Industries Inc		4,449		290	Wyndham Hotels & Resorts Inc		8,462	415
Toll Brothers Inc		7,430		274			$	61,267
		$		2,975	Machinery - Construction & Mining - 0.83%
Home Furnishings - 0.00%					BWX Technologies Inc	1,394,395		64,728
Tempur Sealy International Inc (a)		4,150		220	Caterpillar Inc		30,305	4,035
Housewares - 0.01%							$	68,763
Scotts Miracle-Gro Co/The		1,709		127	Machinery - Diversified - 1.64%
Toro Co/The		9,040		538	Cummins Inc		4,705	692
		$		665	Deere & Co		18,594	3,050
Insurance - 0.19%					Gardner Denver Holdings Inc (a)		7,086	175
Alleghany Corp		191		121	Graco Inc		14,728	638
American International Group Inc		7,374		319	IDEX Corp		6,194	854
Aon PLC		20,982		3,278	Middleby Corp/The (a)		3,189	375
Arch Capital Group Ltd (a)		6,263		184	Nordson Corp		4,870	632
Axis Capital Holdings Ltd		1,473		79	Rockwell Automation Inc		9,800	1,661
Berkshire Hathaway Inc - Class B (a)		22,494		4,623	Roper Technologies Inc		450,545	127,621
Brown & Brown Inc		1,607		44			$	135,698
Erie Indemnity Co		1,740		255	Media - 0.22%
Everest Re Group Ltd		1,422		311	AMC Networks Inc (a)		4,510	284
Markel Corp (a)		132		139	Cable One Inc		373	330
Marsh & McLennan Cos Inc		13,568		1,197	CBS Corp		26,496	1,310
Progressive Corp/The		56,955		3,832	Charter Communications Inc (a)		7,069	2,340
RenaissanceRe Holdings Ltd		359		49	FactSet Research Systems Inc		3,031	663
Travelers Cos Inc/The		9,129		1,146	Sirius XM Holdings Inc		104,652	610
Voya Financial Inc		1,204		56	Walt Disney Co/The		111,366	12,420
		$		15,633			$	17,957
Internet - 20.41%					Mining - 0.00%
Alibaba Group Holding Ltd ADR(a)		890,718		150,077	Southern Copper Corp		6,664	224
Alphabet Inc - A Shares (a)		180,856		203,624	Miscellaneous Manufacturers - 0.15%
Alphabet Inc - C Shares (a)		219,496		245,039	3M Co		27,348	5,478
Amazon.com Inc (a)		309,748		532,373	AO Smith Corp		12,048	577
Booking Holdings Inc (a)		91,283		167,304	Hexcel Corp		2,621	177
CDW Corp/DE		12,371		1,030	Illinois Tool Works Inc		30,890	4,242
eBay Inc		11,306		381	Ingersoll-Rand PLC		11,219	1,122
Expedia Group Inc		9,714		1,158	Parker-Hannifin Corp		2,368	390
F5 Networks Inc (a)		5,214		839	Textron Inc		4,489	239
Facebook Inc (a)	1,268,483			211,444			$	12,225
FireEye Inc (a)		15,442		273	Office & Business Equipment - 0.01%
GoDaddy Inc (a)		13,524		928	Zebra Technologies Corp (a)		4,544	789
IAC/InterActiveCorp (a)		98,448		20,800
Match Group Inc		5,590		299	Oil & Gas - 0.05%
Netflix Inc (a)		156,627		53,175	Anadarko Petroleum Corp		15,650	741
Okta Inc (a)		8,250		680	Antero Resources Corp (a)		10,840	109
Palo Alto Networks Inc (a)		7,508		1,613	Apache Corp		1,317	43
RingCentral Inc (a)		5,905		546	Cabot Oil & Gas Corp		24,859	620
					Cimarex Energy Co		639	48

See accompanying notes.

127

Schedule of Investments
LargeCap Growth Fund I
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Oil & Gas (continued)					Retail - 4.74%
Concho Resources Inc (a)		1,981	$	238	Advance Auto Parts Inc		2,031	$	323
Continental Resources Inc/OK (a)		3,305		153	AutoZone Inc (a)		1,810		1,534
Diamondback Energy Inc		2,040		210	Best Buy Co Inc		5,949		352
EOG Resources Inc		6,459		641	Burlington Stores Inc (a)		5,460		938
Newfield Exploration Co (a)		5,753		105	CarMax Inc (a)		8,614		506
Parsley Energy Inc (a)		14,198		264	Chipotle Mexican Grill Inc (a)		1,936		1,025
Pioneer Natural Resources Co		8,264		1,176	Costco Wholesale Corp		463,059		99,387
		$		4,348	Darden Restaurants Inc		5,431		570
Oil & Gas Services - 0.02%					Dollar General Corp		401,899		46,391
Halliburton Co		50,004		1,568	Dollar Tree Inc (a)		2,305		223
RPC Inc		1,604		17	Domino's Pizza Inc		3,330		945
		$		1,585	Dunkin' Brands Group Inc		6,798		465
Packaging & Containers - 0.02%					Gap Inc/The		3,895		99
Berry Global Group Inc (a)		5,404		266	Home Depot Inc/The		66,332		12,174
Crown Holdings Inc (a)		10,157		518	L Brands Inc		5,631		157
Graphic Packaging Holding Co		3,930		47	Lowe's Cos Inc		133,395		12,827
Packaging Corp of America		7,536		711	Lululemon Athletica Inc (a)		7,595		1,123
Sealed Air Corp		6,790		268	McDonald's Corp		123,911		22,153
Silgan Holdings Inc		2,057		57	Michaels Cos Inc/The (a)		5,852		81
		$		1,867	MSC Industrial Direct Co Inc		2,657		222
Pharmaceuticals - 5.24%					Nordstrom Inc		10,603		492
AbbVie Inc		117,836		9,461	Nu Skin Enterprises Inc		2,553		168
Agios Pharmaceuticals Inc (a)		3,770		202	O'Reilly Automotive Inc (a)		4,535		1,563
Alkermes PLC (a)		11,886		391	Restaurant Brands International Inc		397,735		24,918
AmerisourceBergen Corp		13,039		1,087	Ross Stores Inc		471,296		43,416
Bristol-Myers Squibb Co		79,092		3,905	Starbucks Corp		200,818		13,684
Cigna Corp		507,356		101,374	Tapestry Inc		6,227		241
CVS Health Corp		15,526		1,018	TJX Cos Inc/The	2,048,880			101,891
DexCom Inc (a)		814,343		114,847	Tractor Supply Co		10,094		862
Eli Lilly & Co		349,462		41,886	Ulta Beauty Inc (a)		4,573		1,335
Herbalife Nutrition Ltd (a)		2,340		140	Urban Outfitters Inc (a)		7,985		258
Jazz Pharmaceuticals PLC (a)		4,627		582	Wendy's Co/The		18,087		313
Johnson & Johnson		41,999		5,589	Williams-Sonoma Inc		2,723		148
McKesson Corp		2,451		314	Yum China Holdings Inc		3,635		132
Merck & Co Inc		20,872		1,554	Yum! Brands Inc		5,251		493
Nektar Therapeutics (a)		13,076		554			$		391,409
Neurocrine Biosciences Inc (a)		6,881		607	Semiconductors - 1.76%
PRA Health Sciences Inc (a)		5,007		531	Advanced Micro Devices Inc (a)		73,604		1,797
Premier Inc (a)		2,876		114	Analog Devices Inc		3,343		331
Sarepta Therapeutics Inc (a)		5,157		720	Applied Materials Inc		56,519		2,209
Zoetis Inc	1,714,428			147,716	ASML Holding NV - NY Reg Shares		88,387		15,470
		$		432,592	Broadcom Inc		14,204		3,810
Pipelines - 0.02%					Cypress Semiconductor Corp		25,093		348
Cheniere Energy Inc (a)		12,441		817	IPG Photonics Corp (a)		3,066		408
ONEOK Inc		15,275		981	KLA-Tencor Corp		12,639		1,347
		$		1,798	Lam Research Corp		12,666		2,148
					Marvell Technology Group Ltd		14,028		260
Real Estate - 0.01%					Maxim Integrated Products Inc		372,440		20,212
CBRE Group Inc (a)		12,223		559	Microchip Technology Inc		18,123		1,457
REITs - 1.90%					Micron Technology Inc (a)		165,449		6,323
Alexandria Real Estate Equities Inc		767		101	MKS Instruments Inc		5,432		443
American Tower Corp		25,200		4,356	NVIDIA Corp		33,444		4,808
CoreSite Realty Corp		2,809		278	NXP Semiconductors NV		862,201		75,037
Crown Castle International Corp		29,259		3,425	ON Semiconductor Corp (a)		37,277		747
Equinix Inc		4,619		1,820	Skyworks Solutions Inc		10,954		800
Equity LifeStyle Properties Inc		6,757		715	Teradyne Inc		3,979		143
Extra Space Storage Inc		8,447		833	Texas Instruments Inc		55,311		5,569
Gaming and Leisure Properties Inc		6,136		230	Xilinx Inc		14,641		1,639
Hudson Pacific Properties Inc		1,210		39			$		145,306
Lamar Advertising Co		6,045		450	Shipbuilding - 0.01%
Life Storage Inc		210		21	Huntington Ingalls Industries Inc		3,109		642
Omega Healthcare Investors Inc		1,223		49
Public Storage		15,209		3,232	Software - 17.31%
SBA Communications Corp (a)		745,193		136,020	Activision Blizzard Inc		342,009		16,157
Simon Property Group Inc		26,258		4,782	Adobe Inc (a)		460,042		114,008
Taubman Centers Inc		4,729		236	Akamai Technologies Inc (a)		13,278		864
		$		156,587	ANSYS Inc (a)		6,976		1,146
					Aspen Technology Inc (a)		6,148		594
					athenahealth Inc (a)		3,566		480
					Atlassian Corp PLC (a)		8,828		869

See accompanying notes.

128

Schedule of Investments
LargeCap Growth Fund I
January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held            Value (000’s)				INVESTMENT COMPANIES (continued)		Shares Held Value (000’s)
Software (continued)					Principal Exchange-Traded Funds - 0.02%
Autodesk Inc (a)		709,746	$	104,475	Principal Millennials Index ETF (e)		12,150	$	421
Black Knight Inc (a)		12,409		610	Principal Price Setters Index ETF (e)		4,100		137
Broadridge Financial Solutions Inc		9,755		984	Principal Sustainable Momentum Index ETF (e)		1,900		51
Cadence Design Systems Inc (a)		24,151		1,160	Principal U.S. Mega-Cap Multi-Factor Index		13,396		356
Ceridian HCM Holding Inc (a)		4,205		173	ETF (e)
Cerner Corp (a)		12,126		666			$		965
Citrix Systems Inc		11,630		1,193	TOTAL INVESTMENT COMPANIES		$		148,993
Dun & Bradstreet Corp/The		1,718		249	CONVERTIBLE PREFERRED STOCKS
Electronic Arts Inc (a)	1,229,165			113,379	- 0.38%		Shares Held Value (000's)
Fair Isaac Corp (a)		2,661		599	Internet - 0.38%
Fidelity National Information Services Inc		108,846		11,378	Airbnb Inc - Series D 0.00% (a),(b),(c),(d)		121,527	$	12,898
First Data Corp (a)		47,800		1,178	Airbnb Inc - Series E 0.00% (a),(b),(c),(d)		29,361		3,116
Fiserv Inc (a)		22,917		1,901	Uber Technologies Inc - Series A 0.00% (a),(b),(c),(d)		560		27
Intuit Inc		977,201		210,900	Uber Technologies Inc - Series B 0.00% (a),(b),(c),(d)		1,502		73
Jack Henry & Associates Inc		6,551		875	Uber Technologies Inc - Series C-1 0.00%		397		19
Manhattan Associates Inc (a)		7,318		357	(a),(b),(c),(d)
Microsoft Corp	3,768,299			393,523	Uber Technologies Inc - Series C-2 0.00%		322		16
Oracle Corp		72,150		3,624	(a),(b),(c),(d)
Paychex Inc		26,495		1,876	Uber Technologies Inc - Series C-3 0.00%		4		—
Paycom Software Inc (a)		4,543		673	(a),(b),(c),(d)
PTC Inc (a)		10,073		854	Uber Technologies Inc - Series D 0.00% (a),(b),(c),(d)		357		18
Red Hat Inc (a)		418,831		74,485	Uber Technologies Inc - Series E 0.00% (a),(b),(c),(d)		209,464		10,216
salesforce.com Inc (a)	1,269,566			192,935	Uber Technologies Inc - Series G 0.00% (a),(b),(c),(d)		98,844		4,821
ServiceNow Inc (a)		154,784		34,056	Uber Technologies Inc - Series G-1 0.00%		862		42
Splunk Inc (a)		314,675		39,284	(a),(b),(c),(d)
SS&C Technologies Holdings Inc		17,011		876	Uber Technologies Inc - Series Seed 0.00%		1,434		70
Synopsys Inc (a)		2,185		204	(a),(b),(c),(d)
Tableau Software Inc (a)		6,411		820			$		31,316
Take-Two Interactive Software Inc (a)		5,516		582	TOTAL CONVERTIBLE PREFERRED STOCKS		$		31,316
Teradata Corp (a)		8,053		357	PREFERRED STOCKS - 0.07%		Shares Held   Value (000's)
Ultimate Software Group Inc/The (a)		2,542		694	Software - 0.07%
Veeva Systems Inc (a)		9,980		1,088	Magic Leap Inc - Series C 0.00% (a),(b),(c),(d)		168,788		4,557
VMware Inc		416,970		62,991	Magic Leap Inc - Series D 0.00% (a),(c),(d)		48,744		1,316
Workday Inc (a)		193,526		35,131			$		5,873
		$		1,428,248	TOTAL PREFERRED STOCKS		$		5,873
Telecommunications - 0.03%					Total Investments		$		8,277,296
Arista Networks Inc (a)		4,606		989	Other Assets and Liabilities -  (0.30)%				(24,748	)
LogMeIn Inc		3,675		342	TOTAL NET ASSETS - 100.00%		$		8,252,548
Motorola Solutions Inc		1,822		213
T-Mobile US Inc (a)		16,290		1,134
		$		2,678	(a)	Non-income producing security
Toys, Games & Hobbies - 0.01%					(b)	The value of these investments was determined using significant unobservable
Hasbro Inc		7,527		682		inputs.
					(c)	Restricted Security. Please see Restricted Security Sub-Schedule for more
Transportation - 0.49%						information.
CH Robinson Worldwide Inc		11,601		1,007	(d)	Fair value of these investments is determined in good faith by the Manager
CSX Corp		44,318		2,912		under procedures established and periodically reviewed by the Board of
Expeditors International of Washington Inc		14,609		1,012		Directors. Certain inputs used in the valuation may be unobservable; however,
FedEx Corp		14,048		2,494		each security is evaluated individually for purposes of ASC 820 which results
Genesee & Wyoming Inc (a)		1,916		150		in not all securities being identified as Level 3 of the fair value hierarchy.
JB Hunt Transport Services Inc		21,979		2,353		At the end of the period, the fair value of these securities totaled $37,381 or
Kansas City Southern		142,786		15,100		0.45% of net assets.
Landstar System Inc		4,045		411	(e)	Affiliated Security. Security is either an affiliate (and registered under the
Old Dominion Freight Line Inc		5,776		785		Investment Company Act of 1940) or an affiliate as defined by the Investment
Schneider National Inc		4,670		99		Company Act of 1940 (controls 5.0% or more of the outstanding voting
Union Pacific Corp		59,640		9,487		shares of the security). Please see affiliated sub-schedule for transactional
United Parcel Service Inc		39,686		4,183		information.
XPO Logistics Inc (a)		10,631		646	(f)	Current yield shown is as of period end.
		$		40,639
Water - 0.20%
American Water Works Co Inc		175,073		16,749
TOTAL COMMON STOCKS		$		8,091,114
INVESTMENT COMPANIES - 1.81%	Shares Held            Value (000's)
Money Market Funds - 1.79%
Principal Government Money Market Fund	148,027,926			148,028
2.32%(e),(f)

See accompanying notes.

129

Schedule of Investments
LargeCap Growth Fund I
January 31, 2019 (unaudited)
Portfolio Summary  (unaudited)
Sector			Percent
Consumer, Non-cyclical			27.74	%
Technology			21.88	%
Communications			21.05	%
Industrial			10.41	%
Financial			8.21	%
Consumer, Cyclical			7.04	%
Investment Companies			1.79	%
Basic Materials			1.59	%
Utilities			0.48	%
Energy			0.09	%
Domestic Equity Funds			0.02	%
Other Assets and Liabilities			(0.30	)%
TOTAL NET ASSETS			100.00	%
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds		Value
Principal Government Money Market Fund 2.32%	$		154,115	$		1,020,717	$	1,026,804	$		148,028
Principal Millennials Index ETF			—			498		79			421
Principal Price Setters Index ETF			—			165		27			137
Principal Sustainable Momentum Index ETF			—			60		9			51
Principal U.S. Mega-Cap Multi-Factor Index ETF			—			436		71			356
	$		154,115	$		1,021,876	$	1,026,990	$		148,993
			Realized Gain/Loss					Realized Gain from		Change in Unrealized
		Income				on Investments		Capital Gain Distributions			Gain/Loss
Principal Government Money Market Fund 2.32%	$	816	$			— $		— $			—
Principal Millennials Index ETF		1				(6	)	—			8
Principal Price Setters Index ETF		1				(1	)	—			—
Principal Sustainable Momentum Index ETF		—				(1	)	—			1
Principal U.S. Mega-Cap Multi-Factor Index ETF		2				(3	)	—			(6	)
	$	820	$			(11	) $	— $			3

Amounts in thousands
Restricted Securities
Security Name		Acquisition Date				Cost		Value	Percent of Net Assets
Airbnb Inc - Series D - 0.00%		04/16/2014			$	4,948	$	12,898	0.16	%
Airbnb Inc - Series E - 0.00%		07/14/2015				2,733		3,116	0.04	%
Magic Leap Inc - Series C - 0.00%		01/20/2016				3,888		4,557	0.06	%
Magic Leap Inc - Series D - 0.00%		10/12/2017				1,316		1,316	0.02	%
Uber Technologies Inc - Class A		01/16/2018				129		192	0.00	%
Uber Technologies Inc - Series A - 0.00%		01/16/2018				18		27	0.00	%
Uber Technologies Inc - Series B - 0.00%		01/16/2018				50		73	0.00	%
Uber Technologies Inc - Series C-1 - 0.00%		01/16/2018				13		19	0.00	%
Uber Technologies Inc - Series C-2 - 0.00%		01/16/2018				11		16	0.00	%
Uber Technologies Inc - Series C-3 - 0.00%		01/16/2018				—		—	0.00	%
Uber Technologies Inc - Series D - 0.00%		01/16/2018				12		18	0.00	%
Uber Technologies Inc - Series E - 0.00%	12/05/2014-1/16/2018					6,979		10,216	0.12	%
Uber Technologies Inc - Series G - 0.00%		12/03/2015				4,821		4,821	0.06	%
Uber Technologies Inc - Series G-1 - 0.00%		01/16/2018				42		42	0.00	%
Uber Technologies Inc - Series Seed - 0.00%		01/16/2018				47		70	0.00	%
Total						$		37,381	0.46	%
Amounts in thousands.
Futures Contracts
Description and Expiration Date	Type	Contracts		Notional Amount		Value and Unrealized Appreciation/(Depreciation)
S&P 500 Emini; March 2019	Long		199	$	26,910	$			1,041
Total						$			1,041
Amounts in thousands except contracts.

See accompanying notes.

130

Schedule of Investments
LargeCap S&P 500 Index Fund
January 31, 2019 (unaudited)
COMMON STOCKS - 97.77%	Shares Held    Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Advertising - 0.11%					Banks (continued)
Interpublic Group of Cos Inc/The		91,086	$	2,072	US Bancorp		360,016	$	18,418
Omnicom Group Inc		53,109		4,136	Wells Fargo & Co	1,004,005			49,106
		$		6,208	Zions Bancorp NA		45,547		2,168
Aerospace & Defense - 2.47%							$		364,635
Arconic Inc		101,924		1,918	Beverages - 1.79%
Boeing Co/The		125,162		48,265	Brown-Forman Corp - B Shares		39,411		1,862
General Dynamics Corp		65,972		11,293	Coca-Cola Co/The		907,867		43,696
Harris Corp		27,883		4,271	Constellation Brands Inc		39,374		6,838
L3 Technologies Inc		18,649		3,672	Molson Coors Brewing Co		44,387		2,956
Lockheed Martin Corp		58,643		16,988	Monster Beverage Corp (a)		94,352		5,401
Northrop Grumman Corp		41,144		11,337	PepsiCo Inc		334,524		37,691
Raytheon Co		67,440		11,111			$		98,444
TransDigm Group Inc (a)		11,500		4,497	Biotechnology - 2.17%
United Technologies Corp		192,334		22,709	Alexion Pharmaceuticals Inc (a)		52,870		6,501
		$		136,061	Amgen Inc		151,015		28,257
Agriculture - 1.02%					Biogen Inc (a)		47,748		15,937
Altria Group Inc		445,310		21,976	Celgene Corp (a)		165,716		14,659
Archer-Daniels-Midland Co		132,865		5,966	Gilead Sciences Inc		306,572		21,463
Philip Morris International Inc		368,403		28,264	Illumina Inc (a)		34,837		9,747
		$		56,206	Incyte Corp (a)		41,858		3,373
Airlines - 0.44%					Regeneron Pharmaceuticals Inc (a)		18,393		7,896
Alaska Air Group Inc		29,220		1,869	Vertex Pharmaceuticals Inc (a)		60,563		11,562
American Airlines Group Inc		97,144		3,475			$		119,395
Delta Air Lines Inc		147,861		7,309	Building Materials - 0.31%
Southwest Airlines Co		119,935		6,807	Fortune Brands Home & Security Inc		33,512		1,518
United Continental Holdings Inc (a)		54,238		4,733	Johnson Controls International plc		218,990		7,395
		$		24,193	Martin Marietta Materials Inc		14,862		2,626
Apparel - 0.71%					Masco Corp		72,400		2,347
Capri Holdings Ltd (a)		35,603		1,513	Vulcan Materials Co		31,293		3,181
Hanesbrands Inc		85,488		1,282			$		17,067
NIKE Inc		301,702		24,703	Chemicals - 1.79%
PVH Corp		17,949		1,958	Air Products & Chemicals Inc		52,026		8,553
Ralph Lauren Corp		12,931		1,502	Albemarle Corp		25,171		2,032
Under Armour Inc - Class A (a)		44,462		922	Celanese Corp		31,698		3,035
Under Armour Inc - Class C (a)		45,585		863	CF Industries Holdings Inc		54,696		2,387
VF Corp		77,110		6,490	DowDuPont Inc		543,709		29,257
		$		39,233	Eastman Chemical Co		33,190		2,676
Automobile Manufacturers - 0.47%					FMC Corp		31,911		2,547
Ford Motor Co		925,923		8,148	International Flavors & Fragrances Inc		24,004		3,403
General Motors Co		311,071		12,138	Linde PLC		130,593		21,288
PACCAR Inc		82,811		5,426	LyondellBasell Industries NV		74,557		6,484
		$		25,712	Mosaic Co/The		84,043		2,713
Automobile Parts & Equipment - 0.15%					PPG Industries Inc		56,851		5,994
Aptiv PLC		62,440		4,941	Sherwin-Williams Co/The		19,524		8,230
BorgWarner Inc		49,357		2,019			$		98,599
Goodyear Tire & Rubber Co/The		55,221		1,170	Commercial Services - 1.95%
		$		8,130	Automatic Data Processing Inc		103,737		14,507
Banks - 6.63%					Cintas Corp		20,519		3,848
Bank of America Corp	2,163,039			61,582	Ecolab Inc		60,244		9,529
Bank of New York Mellon Corp/The		215,583		11,279	Equifax Inc		28,574		3,058
BB&T Corp		182,628		8,912	FleetCor Technologies Inc (a)		21,014		4,241
Citigroup Inc		578,758		37,307	Gartner Inc (a)		21,540		2,927
Citizens Financial Group Inc		110,890		3,761	Global Payments Inc		37,493		4,210
Comerica Inc		38,321		3,017	H&R Block Inc		48,707		1,149
Fifth Third Bancorp		155,374		4,167	IHS Markit Ltd (a)		85,004		4,413
First Republic Bank/CA		38,785		3,748	Moody's Corp		39,504		6,262
Goldman Sachs Group Inc/The		81,984		16,234	Nielsen Holdings PLC		84,126		2,160
Huntington Bancshares Inc/OH		251,571		3,331	PayPal Holdings Inc (a)		279,256		24,787
JPMorgan Chase & Co		788,083		81,567	Quanta Services Inc		34,609		1,223
KeyCorp		245,172		4,038	Robert Half International Inc		28,789		1,855
M&T Bank Corp		33,265		5,474	Rollins Inc		34,905		1,300
Morgan Stanley		309,820		13,105	S&P Global Inc		59,460		11,395
Northern Trust Corp		52,469		4,641	Total System Services Inc		39,776		3,564
PNC Financial Services Group Inc/The		109,353		13,414	United Rentals Inc (a)		19,222		2,408
Regions Financial Corp		245,016		3,717	Verisk Analytics Inc (a)		39,012		4,580
State Street Corp		89,944		6,377			$		107,416
SunTrust Banks Inc		106,476		6,327
SVB Financial Group (a)		12,619		2,945

See accompanying notes.

131

Schedule of Investments
LargeCap S&P 500 Index Fund
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held     Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Computers - 4.90%					Electric (continued)
Accenture PLC - Class A		151,067	$	23,196	Exelon Corp		229,169	$	10,945
Apple Inc	1,068,373			177,820	FirstEnergy Corp		115,145		4,514
Cognizant Technology Solutions Corp		137,221		9,562	NextEra Energy Inc		113,266		20,272
DXC Technology Co		66,383		4,256	NRG Energy Inc		68,711		2,811
Fortinet Inc (a)		34,318		2,628	Pinnacle West Capital Corp		26,560		2,340
Hewlett Packard Enterprise Co		337,235		5,258	PPL Corp		170,678		5,346
HP Inc		375,011		8,261	Public Service Enterprise Group Inc		119,785		6,534
International Business Machines Corp		215,372		28,950	Sempra Energy		64,853		7,586
NetApp Inc		59,695		3,807	Southern Co/The		243,834		11,850
Seagate Technology PLC		61,721		2,733	WEC Energy Group Inc		74,775		5,461
Western Digital Corp		68,591		3,086	Xcel Energy Inc		121,816		6,378
		$		269,557			$		164,695
Consumer Products - 0.36%					Electrical Components & Equipment - 0.25%
Avery Dennison Corp		20,550		2,146	AMETEK Inc		55,007		4,010
Church & Dwight Co Inc		58,353		3,770	Emerson Electric Co		148,391		9,715
Clorox Co/The		30,251		4,489			$		13,725
Kimberly-Clark Corp		82,069		9,141	Electronics - 1.35%
		$		19,546	Agilent Technologies Inc		75,544		5,745
Cosmetics & Personal Care - 1.42%					Allegion PLC		22,526		1,934
Colgate-Palmolive Co		205,543		13,295	Amphenol Corp		71,410		6,278
Coty Inc		106,797		829	Corning Inc		189,686		6,309
Estee Lauder Cos Inc/The		52,114		7,109	FLIR Systems Inc		32,786		1,603
Procter & Gamble Co/The		590,433		56,959	Fortive Corp		69,649		5,223
		$		78,192	Garmin Ltd		28,637		1,981
Distribution & Wholesale - 0.21%					Honeywell International Inc		175,438		25,198
Copart Inc (a)		48,802		2,471	Keysight Technologies Inc (a)		44,417		3,288
Fastenal Co		68,028		4,113	Mettler-Toledo International Inc (a)		5,938		3,789
LKQ Corp (a)		75,409		1,977	PerkinElmer Inc		26,361		2,386
WW Grainger Inc		10,811		3,193	TE Connectivity Ltd		81,296		6,581
		$		11,754	Waters Corp (a)		17,952		4,151
Diversified Financial Services - 3.98%							$		74,466
Affiliated Managers Group Inc		12,483		1,310	Engineering & Construction - 0.06%
Alliance Data Systems Corp		11,103		1,972	Fluor Corp		33,335		1,219
American Express Co		166,010		17,049	Jacobs Engineering Group Inc		28,334		1,836
Ameriprise Financial Inc		33,027		4,181			$		3,055
BlackRock Inc		28,780		11,946	Environmental Control - 0.26%
Capital One Financial Corp		112,252		9,046	Pentair PLC		37,851		1,559
Cboe Global Markets Inc		26,589		2,480	Republic Services Inc		51,535		3,953
Charles Schwab Corp/The		284,836		13,322	Waste Management Inc		92,955		8,893
CME Group Inc		84,787		15,455			$		14,405
Discover Financial Services		79,621		5,374	Food - 1.25%
E*TRADE Financial Corp		60,253		2,811	Campbell Soup Co		45,657		1,618
Franklin Resources Inc		70,527		2,088	Conagra Brands Inc		115,083		2,490
Intercontinental Exchange Inc		134,985		10,362	General Mills Inc		141,298		6,279
Invesco Ltd		97,481		1,776	Hershey Co/The		33,234		3,526
Jefferies Financial Group Inc		66,613		1,386	Hormel Foods Corp		64,612		2,734
Mastercard Inc		215,334		45,464	JM Smucker Co/The		26,959		2,828
Nasdaq Inc		27,198		2,395	Kellogg Co		60,034		3,543
Raymond James Financial Inc		30,562		2,460	Kraft Heinz Co/The		147,384		7,083
Synchrony Financial		156,705		4,708	Kroger Co/The		189,115		5,358
T Rowe Price Group Inc		57,033		5,330	Lamb Weston Holdings Inc		34,707		2,509
Visa Inc		416,446		56,224	McCormick & Co Inc/MD		28,856		3,568
Western Union Co/The		104,941		1,915	Mondelez International Inc		344,543		15,939
		$		219,054	Sysco Corp		113,328		7,236
Electric - 2.99%					Tyson Foods Inc		69,934		4,330
AES Corp/VA		156,956		2,572			$		69,041
Alliant Energy Corp		55,913		2,486	Forest Products & Paper - 0.08%
Ameren Corp		57,894		4,014	International Paper Co		95,988		4,553
American Electric Power Co Inc		116,860		9,246	Gas - 0.04%
CenterPoint Energy Inc		118,775		3,673	NiSource Inc		86,094		2,349
CMS Energy Corp		67,145		3,501	Hand & Machine Tools - 0.12%
Consolidated Edison Inc		73,815		5,732	Snap-on Inc		13,197		2,191
Dominion Energy Inc		178,063		12,507	Stanley Black & Decker Inc		35,800		4,526
DTE Energy Co		43,113		5,077			$		6,717
Duke Energy Corp		168,942		14,830
Edison International		77,212		4,399	Healthcare - Products - 3.79%
Entergy Corp		42,927		3,829	Abbott Laboratories		416,229		30,376
Evergy Inc		62,437		3,579	ABIOMED Inc (a)		10,673		3,747
Eversource Energy		75,098		5,213	Align Technology Inc (a)		17,248		4,294

See accompanying notes.

132

Schedule of Investments
LargeCap S&P 500 Index Fund
January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Healthcare - Products (continued)					Internet - 9.20%
Baxter International Inc		117,282	$	8,502	Alphabet Inc - A Shares (a)		70,853	$	79,773
Becton Dickinson and Co		63,572		15,859	Alphabet Inc - C Shares (a)		72,912		81,397
Boston Scientific Corp (a)		327,943		12,511	Amazon.com Inc (a)		97,339		167,299
Cooper Cos Inc/The		11,644		3,246	Booking Holdings Inc (a)		10,981		20,126
Danaher Corp		146,172		16,213	eBay Inc		214,489		7,217
DENTSPLY SIRONA Inc		52,740		2,213	Expedia Group Inc		28,075		3,348
Edwards Lifesciences Corp (a)		49,542		8,443	F5 Networks Inc (a)		14,367		2,312
Henry Schein Inc (a)		36,125		2,807	Facebook Inc (a)		569,354		94,906
Hologic Inc (a)		63,846		2,835	Netflix Inc (a)		103,346		35,086
IDEXX Laboratories Inc (a)		20,435		4,348	Symantec Corp		151,408		3,183
Intuitive Surgical Inc (a)		27,063		14,171	TripAdvisor Inc (a)		24,264		1,392
Medtronic PLC		318,286		28,133	Twitter Inc (a)		171,386		5,752
ResMed Inc		33,770		3,214	VeriSign Inc (a)		25,212		4,268
Stryker Corp		73,601		13,069			$		506,059
Teleflex Inc		10,893		2,979	Iron & Steel - 0.08%
Thermo Fisher Scientific Inc		95,404		23,438	Nucor Corp		74,399		4,556
Varian Medical Systems Inc (a)		21,594		2,851	Leisure Products & Services - 0.26%
Zimmer Biomet Holdings Inc		48,339		5,296	Carnival Corp		94,893		5,464
		$		208,545	Harley-Davidson Inc		38,591		1,422
Healthcare - Services - 2.25%					Norwegian Cruise Line Holdings Ltd (a)		52,130		2,681
Anthem Inc		61,295		18,572	Royal Caribbean Cruises Ltd		40,613		4,876
Centene Corp (a)		48,666		6,354			$		14,443
DaVita Inc (a)		29,896		1,678	Lodging - 0.35%
HCA Healthcare Inc		63,618		8,870	Hilton Worldwide Holdings Inc		70,284		5,235
Humana Inc		32,511		10,046	Marriott International Inc/MD		67,101		7,685
IQVIA Holdings Inc (a)		37,549		4,844	MGM Resorts International		118,693		3,494
Laboratory Corp of America Holdings (a)		23,913		3,332	Wynn Resorts Ltd		23,192		2,853
Quest Diagnostics Inc		32,247		2,817			$		19,267
UnitedHealth Group Inc		227,989		61,603	Machinery - Construction & Mining - 0.34%
Universal Health Services Inc		20,205		2,678	Caterpillar Inc		139,849		18,622
WellCare Health Plans Inc (a)		11,846		3,275
		$		124,069	Machinery - Diversified - 0.67%
					Cummins Inc		35,008		5,150
Home Builders - 0.15%					Deere & Co		76,232		12,502
DR Horton Inc		81,146		3,120	Dover Corp		34,680		3,046
Lennar Corp - A Shares		69,328		3,288	Flowserve Corp		31,010		1,366
PulteGroup Inc		61,236		1,703	Rockwell Automation Inc		28,602		4,848
		$		8,111	Roper Technologies Inc		24,511		6,943
Home Furnishings - 0.06%					Xylem Inc/NY		42,590		3,035
Leggett & Platt Inc		30,907		1,266			$		36,890
Whirlpool Corp		15,123		2,011	Media - 2.24%
		$		3,277	CBS Corp		79,794		3,947
Housewares - 0.04%					Charter Communications Inc (a)		41,775		13,830
Newell Brands Inc		101,777		2,159	Comcast Corp - Class A	1,075,940			39,347
Insurance - 4.05%					Discovery Inc - A Shares (a)		37,146		1,054
Aflac Inc		180,415		8,606	Discovery Inc - C Shares (a)		85,372		2,275
Allstate Corp/The		81,628		7,173	DISH Network Corp (a)		54,326		1,666
American International Group Inc		209,650		9,063	News Corp - A Shares		91,291		1,171
Aon PLC		57,078		8,917	News Corp - B Shares		29,332		379
Arthur J Gallagher & Co		43,522		3,251	Twenty-First Century Fox Inc - A Shares		250,489		12,352
Assurant Inc		12,355		1,191	Twenty-First Century Fox Inc - B Shares		115,435		5,663
Berkshire Hathaway Inc - Class B (a)		461,033		94,761	Viacom Inc - B Shares		83,759		2,464
Brighthouse Financial Inc (a)		28,108		1,050	Walt Disney Co/The		352,796		39,344
Chubb Ltd		109,206		14,530			$		123,492
Cincinnati Financial Corp		35,866		2,909	Mining - 0.15%
Everest Re Group Ltd		9,633		2,110	Freeport-McMoRan Inc		343,402		3,997
Hartford Financial Services Group Inc/The		85,015		3,989	Newmont Mining Corp		126,233		4,306
Lincoln National Corp		50,623		2,961			$		8,303
Loews Corp		65,524		3,139	Miscellaneous Manufacturers - 1.49%
Marsh & McLennan Cos Inc		119,371		10,527	3M Co		137,996		27,641
MetLife Inc		233,870		10,681	AO Smith Corp		34,099		1,632
Principal Financial Group Inc		62,383		3,123	Eaton Corp PLC		102,710		7,832
Progressive Corp/The		138,187		9,299	General Electric Co	2,061,347			20,943
Prudential Financial Inc		97,877		9,018	Illinois Tool Works Inc		72,343		9,933
Torchmark Corp		24,320		2,037	Ingersoll-Rand PLC		58,216		5,824
Travelers Cos Inc/The		62,775		7,881	Parker-Hannifin Corp		31,364		5,169
Unum Group		51,840		1,802	Textron Inc		57,580		3,065
Willis Towers Watson PLC		30,795		5,013			$		82,039
		$		223,031

See accompanying notes.

133

     Schedule of Investments LargeCap S&P 500 Index Fund January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Office & Business Equipment - 0.03%					REITs (continued)
Xerox Corp		49,130	$	1,386	Boston Properties Inc		36,599	$	4,826
Oil & Gas - 4.42%					Crown Castle International Corp		98,314		11,509
Anadarko Petroleum Corp		119,509		5,656	Digital Realty Trust Inc		48,885		5,296
Apache Corp		89,948		2,952	Duke Realty Corp		84,916		2,483
Cabot Oil & Gas Corp		102,186		2,550	Equinix Inc		19,051		7,506
Chevron Corp		452,830		51,917	Equity Residential		87,315		6,336
Cimarex Energy Co		22,659		1,707	Essex Property Trust Inc		15,655		4,246
Concho Resources Inc (a)		47,456		5,687	Extra Space Storage Inc		29,982		2,957
ConocoPhillips		272,831		18,468	Federal Realty Investment Trust		17,504		2,320
Devon Energy Corp		110,959		2,957	HCP Inc		113,157		3,569
Diamondback Energy Inc		36,552		3,769	Host Hotels & Resorts Inc		175,858		3,176
EOG Resources Inc		137,429		13,633	Iron Mountain Inc		67,830		2,523
Exxon Mobil Corp	1,003,360			73,526	Kimco Realty Corp		99,864		1,699
Helmerich & Payne Inc		25,840		1,447	Macerich Co/The		25,069		1,157
Hess Corp		58,976		3,185	Mid-America Apartment Communities Inc		26,978		2,732
HollyFrontier Corp		37,780		2,129	Prologis Inc		149,190		10,318
Marathon Oil Corp		197,003		3,111	Public Storage		35,536		7,552
Marathon Petroleum Corp		163,723		10,848	Realty Income Corp		69,938		4,804
Newfield Exploration Co (a)		47,481		868	Regency Centers Corp		40,155		2,610
Noble Energy Inc		113,708		2,540	SBA Communications Corp (a)		26,857		4,902
Occidental Petroleum Corp		178,934		11,949	Simon Property Group Inc		73,299		13,349
Phillips 66		100,540		9,593	SL Green Realty Corp		20,209		1,868
Pioneer Natural Resources Co		40,396		5,749	UDR Inc		65,299		2,857
Valero Energy Corp		100,557		8,831	Ventas Inc		84,477		5,448
		$		243,072	Vornado Realty Trust		41,036		2,869
Oil & Gas Services - 0.52%					Welltower Inc		89,023		6,898
Baker Hughes a GE Co		121,666		2,868	Weyerhaeuser Co		177,552		4,659
Halliburton Co		207,611		6,511			$		160,014
National Oilwell Varco Inc		90,852		2,678	Retail - 5.29%
Schlumberger Ltd		328,181		14,509	Advance Auto Parts Inc		17,276		2,750
TechnipFMC PLC		100,831		2,315	AutoZone Inc (a)		5,977		5,065
		$		28,881	Best Buy Co Inc		55,484		3,287
Packaging & Containers - 0.19%					CarMax Inc (a)		41,384		2,433
Ball Corp		80,385		4,203	Chipotle Mexican Grill Inc (a)		5,794		3,069
Packaging Corp of America		22,394		2,112	Costco Wholesale Corp		103,849		22,289
Sealed Air Corp		37,190		1,469	Darden Restaurants Inc		29,412		3,086
Westrock Co		60,090		2,446	Dollar General Corp		62,301		7,191
		$		10,230	Dollar Tree Inc (a)		56,395		5,461
Pharmaceuticals - 6.20%					Foot Locker Inc		27,230		1,522
AbbVie Inc		356,482		28,622	Gap Inc/The		50,622		1,288
Allergan PLC		75,138		10,818	Genuine Parts Co		34,780		3,472
AmerisourceBergen Corp		37,168		3,099	Home Depot Inc/The		267,686		49,128
Bristol-Myers Squibb Co		386,810		19,097	Kohl's Corp		39,135		2,688
Cardinal Health Inc		70,609		3,528	L Brands Inc		54,116		1,507
Cigna Corp		89,689		17,921	Lowe's Cos Inc		190,292		18,298
CVS Health Corp		306,472		20,089	Macy's Inc		72,865		1,916
Eli Lilly & Co		223,432		26,781	McDonald's Corp		182,698		32,663
Johnson & Johnson		635,596		84,585	Nordstrom Inc		26,966		1,252
McKesson Corp		46,303		5,938	O'Reilly Automotive Inc (a)		18,984		6,543
Merck & Co Inc		616,259		45,868	Ross Stores Inc		88,484		8,151
Mylan NV (a)		122,198		3,660	Starbucks Corp		294,006		20,034
Nektar Therapeutics (a)		41,019		1,737	Tapestry Inc		68,677		2,658
Perrigo Co PLC		29,621		1,376	Target Corp		123,670		9,028
Pfizer Inc	1,369,904			58,152	Tiffany & Co		25,709		2,281
Zoetis Inc		113,861		9,810	TJX Cos Inc/The		293,280		14,585
		$		341,081	Tractor Supply Co		28,927		2,470
					Ulta Beauty Inc (a)		13,354		3,898
Pipelines - 0.40%					Walgreens Boots Alliance Inc		190,521		13,767
Kinder Morgan Inc/DE		449,811		8,141	Walmart Inc		337,372		32,330
ONEOK Inc		97,487		6,260	Yum! Brands Inc		74,013		6,956
Williams Cos Inc/The		286,883		7,726			$		291,066
		$		22,127	Savings & Loans - 0.03%
Real Estate - 0.06%					People's United Financial Inc		89,450		1,465
CBRE Group Inc (a)		75,129		3,437	Semiconductors - 3.62%
REITs - 2.91%					Advanced Micro Devices Inc (a)		208,424		5,087
Alexandria Real Estate Equities Inc		25,482		3,356	Analog Devices Inc		87,722		8,672
American Tower Corp		104,390		18,043	Applied Materials Inc		232,956		9,104
Apartment Investment & Management Co		36,887		1,827	Broadcom Inc		97,983		26,284
AvalonBay Communities Inc		32,756		6,319	Intel Corp	1,081,614			50,966

See accompanying notes.

134

Schedule of Investments
LargeCap S&P 500 Index Fund
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held   Value (000’s)				INVESTMENT COMPANIES - 1.83%		Shares Held Value (000's)
Semiconductors (continued)					Exchange-Traded Funds - 0.41%
IPG Photonics Corp (a)		8,480	$	1,128	iShares Core S&P 500 ETF		84,000	$	22,810
KLA-Tencor Corp		36,278		3,866	Money Market Funds - 1.42%
Lam Research Corp		36,777		6,237	Principal Government Money Market Fund		77,928,655		77,929
Maxim Integrated Products Inc		65,660		3,563	2.32%(b),(c)
Microchip Technology Inc		56,049		4,505	TOTAL INVESTMENT COMPANIES		$		100,739
Micron Technology Inc (a)		265,451		10,145	Total Investments		$		5,481,525
NVIDIA Corp		144,562		20,781	Other Assets and Liabilities -  0.40%				22,163
Qorvo Inc (a)		29,602		1,935	TOTAL NET ASSETS - 100.00%		$		5,503,688
QUALCOMM Inc		287,267		14,225
Skyworks Solutions Inc		42,074		3,073
Texas Instruments Inc		227,639		22,919	(a)	Non-income producing security
Xilinx Inc		59,967		6,713	(b)	Affiliated Security. Security is either an affiliate (and registered under the
		$		199,203		Investment Company Act of 1940) or an affiliate as defined by the Investment
Shipbuilding - 0.04%						Company Act of 1940 (controls 5.0% or more of the outstanding voting
Huntington Ingalls Industries Inc		10,180		2,102		shares of the security). Please see affiliated sub-schedule for transactional
						information.
Software - 6.80%					(c)	Current yield shown is as of period end.
Activision Blizzard Inc		180,833		8,543
Adobe Inc (a)		115,681		28,668
Akamai Technologies Inc (a)		38,599		2,513		Portfolio Summary  (unaudited)
ANSYS Inc (a)		19,804		3,255	Sector				Percent
Autodesk Inc (a)		51,901		7,640	Consumer, Non-cyclical				22.20	%
Broadridge Financial Solutions Inc		27,668		2,790	Financial				17.66	%
Cadence Design Systems Inc (a)		66,863		3,211	Technology				15.35	%
Cerner Corp (a)		78,084		4,288	Communications				14.62	%
Citrix Systems Inc		30,341		3,111	Industrial				9.17	%
Electronic Arts Inc (a)		71,602		6,605	Consumer, Cyclical				8.23	%
Fidelity National Information Services Inc		77,609		8,112	Energy				5.34	%
Fiserv Inc (a)		94,434		7,831	Utilities				3.10	%
Intuit Inc		61,506		13,274	Basic Materials				2.10	%
Jack Henry & Associates Inc		18,318		2,446	Investment Companies				1.83	%
Microsoft Corp	1,831,659			191,280	Other Assets and Liabilities				0.40	%
MSCI Inc		20,864		3,553	TOTAL NET ASSETS				100.00	%
Oracle Corp		604,049		30,341
Paychex Inc		75,737		5,362
Red Hat Inc (a)		41,889		7,450
salesforce.com Inc (a)		181,294		27,551
Synopsys Inc (a)		35,373		3,302
Take-Two Interactive Software Inc (a)		26,986		2,848
		$		373,974
Telecommunications - 3.07%
Arista Networks Inc (a)		12,333		2,649
AT&T Inc	1,724,798			51,847
CenturyLink Inc		225,370		3,452
Cisco Systems Inc	1,065,490			50,387
Juniper Networks Inc		81,796		2,122
Motorola Solutions Inc		38,754		4,531
Verizon Communications Inc		979,237		53,917
		$		168,905
Textiles - 0.04%
Mohawk Industries Inc (a)		14,946		1,925
Toys, Games & Hobbies - 0.06%
Hasbro Inc		27,581		2,498
Mattel Inc (a)		81,796		968
		$		3,466
Transportation - 1.62%
CH Robinson Worldwide Inc		32,587		2,828
CSX Corp		190,112		12,490
Expeditors International of Washington Inc		40,903		2,835
FedEx Corp		57,453		10,202
JB Hunt Transport Services Inc		20,698		2,215
Kansas City Southern		24,101		2,549
Norfolk Southern Corp		64,544		10,827
Union Pacific Corp		174,609		27,775
United Parcel Service Inc		164,756		17,365
		$		89,086
Water - 0.07%
American Water Works Co Inc		42,799		4,095
TOTAL COMMON STOCKS		$		5,380,786

See accompanying notes.

135

Schedule of Investments
LargeCap S&P 500 Index Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases				Sales		January 31, 2019
		Value					Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	108,296 $					165,959	$	196,326	$		77,929
	$	108,296 $					165,959	$	196,326	$		77,929
				Realized Gain/Loss			Realized Gain from				Change in Unrealized
		Income		on Investments			Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	403	$		— $				— $		—
	$	403	$		— $				— $		—
Amounts in thousands
Futures Contracts
Description and Expiration Date		Type		Contracts		Notional Amount			Value and Unrealized Appreciation/(Depreciation)
S&P 500 Emini; March 2019		Long			588	$	79,512 $					5,295
Total						$						5,295
Amounts in thousands except contracts.

See accompanying notes.

136

Schedule of Investments LargeCap Value Fund III

January 31, 2019 (unaudited)

COMMON STOCKS - 96.89%	Shares Held Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Advertising - 0.04%					Banks (continued)
Interpublic Group of Cos Inc/The		8,046	$	183	First Republic Bank/CA		2,697	$	261
Omnicom Group Inc		8,391		654	FNB Corp/PA		8,546		100
		$		837	Goldman Sachs Group Inc/The		5,784		1,145
Aerospace & Defense - 4.40%					Huntington Bancshares Inc/OH		24,388		323
Boeing Co/The		46,775		18,037	JPMorgan Chase & Co		572,089		59,212
Curtiss-Wright Corp		1,023		116	KeyCorp		17,068		281
General Dynamics Corp		161,031		27,564	M&T Bank Corp		2,322		382
L3 Technologies Inc		1,299		256	Morgan Stanley		316,760		13,399
Lockheed Martin Corp		353		102	Northern Trust Corp		2,432		215
Northrop Grumman Corp		68,124		18,772	PacWest Bancorp		3,169		122
Teledyne Technologies Inc (a)		837		188	Pinnacle Financial Partners Inc		1,112		60
United Technologies Corp		193,644		22,863	PNC Financial Services Group Inc/The		12,446		1,527
		$		87,898	Popular Inc		2,528		138
Agriculture - 1.54%					Regions Financial Corp		41,918		636
Altria Group Inc		185,915		9,175	State Street Corp		209,854		14,879
Archer-Daniels-Midland Co		9,260		416	SunTrust Banks Inc		14,976		890
Bunge Ltd		3,170		174	Synovus Financial Corp		2,916		103
Philip Morris International Inc		272,718		20,923	TCF Financial Corp		4,489		99
		$		30,688	Texas Capital Bancshares Inc (a)		615		36
Airlines - 0.11%					Umpqua Holdings Corp		5,865		104
Alaska Air Group Inc		2,892		185	US Bancorp		723,893		37,034
American Airlines Group Inc		6,853		245	Wells Fargo & Co		940,034		45,977
Copa Holdings SA		832		79	Western Alliance Bancorp (a)		306,249		13,561
Delta Air Lines Inc		12,816		633	Wintrust Financial Corp		1,441		102
JetBlue Airways Corp (a)		7,376		133	Zions Bancorp NA		4,462		212
Southwest Airlines Co		5,395		306			$		251,007
United Continental Holdings Inc (a)		6,747		589	Beverages - 0.97%
		$		2,170	Coca-Cola Co/The		14,220		684
Apparel - 0.03%					Molson Coors Brewing Co		3,960		264
Capri Holdings Ltd (a)		1,760		75	PepsiCo Inc		163,777		18,453
Columbia Sportswear Co		734		65			$		19,401
PVH Corp		1,783		195	Biotechnology - 0.06%
Ralph Lauren Corp		1,296		150	Alexion Pharmaceuticals Inc (a)		781		96
Skechers U.S.A. Inc (a)		2,026		55	Alnylam Pharmaceuticals Inc (a)		213		18
Under Armour Inc - Class C (a)		1,300		25	Amgen Inc		823		154
VF Corp		1,218		103	Biogen Inc (a)		229		76
		$		668	Bio-Rad Laboratories Inc (a)		535		134
Automobile Manufacturers - 0.13%					Bluebird Bio Inc (a)		386		52
Ford Motor Co		101,574		894	Gilead Sciences Inc		7,206		504
General Motors Co		32,026		1,249	United Therapeutics Corp (a)		924		107
PACCAR Inc		5,691		373			$		1,141
		$		2,516	Building Materials - 1.17%
Automobile Parts & Equipment - 0.03%					Eagle Materials Inc		303		22
Adient PLC		2,779		55	Fortune Brands Home & Security Inc		1,957		89
Aptiv PLC		585		46	Johnson Controls International plc		677,759		22,888
BorgWarner Inc		4,916		201	Lennox International Inc		111		25
Garrett Motion Inc (a)		895		14	Martin Marietta Materials Inc		141		25
Goodyear Tire & Rubber Co/The		5,776		122	Masco Corp		2,550		83
Lear Corp		1,348		208	MDU Resources Group Inc		4,762		122
Visteon Corp (a)		359		28	Owens Corning		2,443		128
		$		674			$		23,382
Banks - 12.56%					Chemicals - 2.90%
Associated Banc-Corp		4,406		95	Air Products & Chemicals Inc		177,293		29,145
Bank of America Corp	1,295,600			36,885	Albemarle Corp		2,386		193
Bank of New York Mellon Corp/The		302,945		15,850	Axalta Coating Systems Ltd (a)		3,115		80
Bank OZK		3,227		98	Cabot Corp		1,527		72
BankUnited Inc		2,745		93	Celanese Corp		1,220		117
BB&T Corp		22,602		1,103	CF Industries Holdings Inc		5,251		229
CIT Group Inc		2,704		125	DowDuPont Inc		460,828		24,797
Citigroup Inc		58,266		3,756	Eastman Chemical Co		3,268		263
Citizens Financial Group Inc		19,519		662	Huntsman Corp		5,478		120
Comerica Inc		3,512		276	International Flavors & Fragrances Inc		1,200		170
Cullen/Frost Bankers Inc		1,356		132	Linde PLC		5,412		882
East West Bancorp Inc		3,180		160	LyondellBasell Industries NV		5,108		444
Fifth Third Bancorp		25,865		694	Mosaic Co/The		7,978		258
First Citizens BancShares Inc/NC		211		86	NewMarket Corp		42		17
First Hawaiian Inc		2,896		74	Olin Corp		4,082		96
First Horizon National Corp		8,148		120	PPG Industries Inc		6,015		634
					RPM International Inc		2,514		144

See accompanying notes.

137

Schedule of Investments LargeCap Value Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Chemicals (continued)					Diversified Financial Services (continued)
Univar Inc (a)		2,624	$	55	Legg Mason Inc		2,413	$	72
Valvoline Inc		4,819		107	Nasdaq Inc		2,659		234
Westlake Chemical Corp		259		19	Navient Corp		7,123		81
		$		57,842	OneMain Holdings Inc		2,261		68
Commercial Services - 0.74%					Raymond James Financial Inc		2,225		179
AMERCO		170		62	Santander Consumer USA Holdings Inc		3,167		60
Aramark		77,802		2,564	SLM Corp		10,516		113
Booz Allen Hamilton Holding Corp		196,520		9,655	Synchrony Financial		21,408		643
Bright Horizons Family Solutions Inc (a)		246		28	T Rowe Price Group Inc		273		25
Ecolab Inc		3,594		568	Western Union Co/The		7,868		144
Equifax Inc		1,942		208			$		45,821
Euronet Worldwide Inc (a)		654		75	Electric - 6.20%
Graham Holdings Co		116		77	AES Corp/VA		15,177		249
H&R Block Inc		4,303		102	Alliant Energy Corp		5,310		236
IHS Markit Ltd (a)		10,179		528	Ameren Corp		6,773		470
ManpowerGroup Inc		1,540		122	American Electric Power Co Inc		8,181		647
Nielsen Holdings PLC		8,198		211	Avangrid Inc		1,298		65
Quanta Services Inc		2,558		90	CenterPoint Energy Inc		14,552		450
Sabre Corp		1,829		42	CMS Energy Corp		342,454		17,855
Service Corp International/US		2,204		95	Consolidated Edison Inc		7,805		606
Worldpay Inc (a)		4,518		377	Dominion Energy Inc		324,109		22,765
		$		14,804	DTE Energy Co		151,627		17,854
Computers - 1.08%					Duke Energy Corp		16,389		1,439
Amdocs Ltd		3,348		187	Edison International		8,699		496
Apple Inc		105,410		17,545	Entergy Corp		5,130		458
Cognizant Technology Solutions Corp		960		67	Evergy Inc		7,425		426
Dell Technologies Inc (a)		3,331		162	Eversource Energy		5,247		364
DXC Technology Co		7,474		479	Exelon Corp		369,640		17,654
Genpact Ltd		2,498		75	FirstEnergy Corp		13,407		526
Hewlett Packard Enterprise Co		53,183		829	Hawaiian Electric Industries Inc		2,597		97
HP Inc		50,129		1,104	NextEra Energy Inc		104,528		18,708
International Business Machines Corp		4,283		576	NRG Energy Inc		6,566		269
Leidos Holdings Inc		3,348		194	OGE Energy Corp		4,638		190
NCR Corp (a)		906		24	PG&E Corp (a)		11,837		154
Western Digital Corp		6,649		299	Pinnacle West Capital Corp		2,557		225
		$		21,541	PPL Corp		18,286		573
Consumer Products - 0.02%					Public Service Enterprise Group Inc		8,365		456
Church & Dwight Co Inc		622		40	Sempra Energy		4,539		531
Clorox Co/The		277		41	Southern Co/The		24,599		1,195
Kimberly-Clark Corp		2,430		271	Vistra Energy Corp (a)		8,982		225
Spectrum Brands Holdings Inc		645		36	WEC Energy Group Inc		247,341		18,063
		$		388	Xcel Energy Inc		12,831		672
Cosmetics & Personal Care - 1.27%							$		123,918
Colgate-Palmolive Co		308,954		19,983	Electrical Components & Equipment - 0.04%
Procter & Gamble Co/The		56,051		5,407	Acuity Brands Inc		978		118
		$		25,390	AMETEK Inc		5,684		414
Distribution & Wholesale - 0.02%					Emerson Electric Co		3,018		198
HD Supply Holdings Inc (a)		3,214		135	Energizer Holdings Inc		777		37
KAR Auction Services Inc		477		25	Hubbell Inc		495		54
LKQ Corp (a)		6,147		161	Littelfuse Inc		137		24
WESCO International Inc (a)		1,318		69			$		845
		$		390	Electronics - 1.53%
Diversified Financial Services - 2.29%					ADT Inc		3,950		29
Affiliated Managers Group Inc		1,259		132	Agilent Technologies Inc		5,304		403
Air Lease Corp		2,217		84	Allegion PLC		531		46
Ally Financial Inc		9,818		256	Arrow Electronics Inc (a)		2,093		159
American Express Co		198,868		20,424	Avnet Inc		2,718		112
Ameriprise Financial Inc		4,943		626	Coherent Inc (a)		239		28
BlackRock Inc		2,011		835	Corning Inc		13,068		435
Capital One Financial Corp		13,517		1,089	FLIR Systems Inc		2,866		140
Cboe Global Markets Inc		281		26	Fortive Corp		398		30
CME Group Inc		5,180		944	Garmin Ltd		2,672		185
Credit Acceptance Corp (a)		52		21	Gentex Corp		2,652		56
Discover Financial Services		8,560		578	Honeywell International Inc		194,919		27,996
E*TRADE Financial Corp		4,597		214	Jabil Inc		4,012		107
Intercontinental Exchange Inc		244,620		18,777	Keysight Technologies Inc (a)		4,161		308
Invesco Ltd		9,406		171	National Instruments Corp		654		29
Lazard Ltd		624		25	nVent Electric PLC		4,172		104
					Resideo Technologies Inc (a)		1,226		27

See accompanying notes.

138

Schedule of Investments LargeCap Value Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Electronics (continued)					Healthcare - Products (continued)
Sensata Technologies Holding PLC (a)		1,904	$	90	Henry Schein Inc (a)		3,057	$	238
Trimble Inc (a)		5,622		212	Hill-Rom Holdings Inc		663		66
Waters Corp (a)		90		21	Hologic Inc (a)		6,244		277
		$		30,517	Integra LifeSciences Holdings Corp (a)		604		29
Engineering & Construction - 0.02%					Medtronic PLC		584,505		51,665
AECOM (a)		3,863		118	QIAGEN NV (a)		5,266		195
Arcosa Inc		1,472		43	STERIS PLC		1,993		227
Fluor Corp		3,161		116	Teleflex Inc		846		231
Jacobs Engineering Group Inc		2,985		194	Thermo Fisher Scientific Inc		6,262		1,538
		$		471	West Pharmaceutical Services Inc		1,368		148
Entertainment - 0.01%					Zimmer Biomet Holdings Inc		3,375		370
Cinemark Holdings Inc		2,614		107			$		104,873
International Game Technology PLC		2,687		44	Healthcare - Services - 2.28%
Lions Gate Entertainment Corp - A shares		1,453		27	Anthem Inc		76,176		23,082
Lions Gate Entertainment Corp - B shares		2,584		45	Centene Corp (a)		2,069		270
		$		223	Charles River Laboratories International Inc (a)		402		50
Environmental Control - 0.05%					DaVita Inc (a)		1,556		87
Clean Harbors Inc (a)		1,226		73	HCA Healthcare Inc		3,205		447
Pentair PLC		3,793		156	Humana Inc		817		252
Republic Services Inc		5,688		436	IQVIA Holdings Inc (a)		2,701		349
Waste Management Inc		2,584		247	Laboratory Corp of America Holdings (a)		2,175		303
		$		912	MEDNAX Inc (a)		2,393		86
Food - 2.08%					Molina Healthcare Inc (a)		337		45
Campbell Soup Co		1,439		51	Quest Diagnostics Inc		3,172		277
Conagra Brands Inc		10,900		236	UnitedHealth Group Inc		73,995		19,993
Flowers Foods Inc		4,562		90	Universal Health Services Inc		1,968		261
General Mills Inc		437,937		19,462	WellCare Health Plans Inc (a)		145		40
Hershey Co/The		210		22			$		45,542
Hormel Foods Corp		416,855		17,641	Home Builders - 0.03%
Ingredion Inc		1,664		165	DR Horton Inc		3,427		132
JM Smucker Co/The		2,505		263	Lennar Corp - A Shares		3,188		151
Kellogg Co		2,913		172	Lennar Corp - B Shares		566		22
Kraft Heinz Co/The		9,997		480	PulteGroup Inc		4,353		121
Kroger Co/The		23,102		654	Thor Industries Inc		420		27
Lamb Weston Holdings Inc		3,286		238	Toll Brothers Inc		1,881		69
McCormick & Co Inc/MD		1,898		235			$		522
Mondelez International Inc		23,686		1,096	Home Furnishings - 0.02%
Pilgrim's Pride Corp (a)		1,685		34	Dolby Laboratories Inc		1,574		102
Post Holdings Inc (a)		690		64	Leggett & Platt Inc		3,033		124
Seaboard Corp		8		31	Whirlpool Corp		1,451		193
Tyson Foods Inc		9,002		557			$		419
US Foods Holding Corp (a)		4,727		159	Housewares - 0.01%
		$		41,650	Newell Brands Inc		9,656		205
Forest Products & Paper - 0.03%					Scotts Miracle-Gro Co/The		573		42
Domtar Corp		1,638		77			$		247
International Paper Co		10,466		496	Insurance - 4.11%
		$		573	Aflac Inc		23,497		1,121
Gas - 0.05%					Alleghany Corp		297		188
Atmos Energy Corp		2,448		239	Allstate Corp/The		11,270		990
National Fuel Gas Co		1,933		111	American Financial Group Inc/OH		1,775		169
NiSource Inc		7,979		218	American International Group Inc		612,925		26,497
UGI Corp		4,008		228	American National Insurance Co		308		43
Vectren Corp		1,915		139	Arch Capital Group Ltd (a)		7,506		220
		$		935	Arthur J Gallagher & Co		253,940		18,972
Hand & Machine Tools - 0.03%					Assurant Inc		1,313		127
Regal Beloit Corp		1,129		87	Assured Guaranty Ltd		2,711		110
Snap-on Inc		1,315		218	Athene Holding Ltd (a)		3,948		169
Stanley Black & Decker Inc		2,510		317	Axis Capital Holdings Ltd		1,855		99
		$		622	Berkshire Hathaway Inc - Class B (a)		38,499		7,913
Healthcare - Products - 5.25%					Brighthouse Financial Inc (a)		2,860		107
Abbott Laboratories		293,295		21,405	Brown & Brown Inc		5,268		143
Baxter International Inc		12,430		901	Chubb Ltd		131,308		17,470
Becton Dickinson and Co		100,844		25,156	Cincinnati Financial Corp		3,513		285
Boston Scientific Corp (a)		5,278		201	CNA Financial Corp		969		45
Bruker Corp		1,738		61	Erie Indemnity Co		234		34
Cooper Cos Inc/The		926		258	Everest Re Group Ltd		611		134
Danaher Corp		15,306		1,698	Fidelity National Financial Inc		6,202		224
DENTSPLY SIRONA Inc		4,977		209	First American Financial Corp		2,706		136
					Hanover Insurance Group Inc/The		1,060		121

See accompanying notes.

139

Schedule of Investments
LargeCap Value Fund III
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held     Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Insurance (continued)					Media (continued)
Hartford Financial Services Group Inc/The		14,346	$	673	Liberty Broadband Corp - C Shares (a)	2,307	$	196
Lincoln National Corp		4,974		291	Liberty Media Corp-Liberty Formula One - A	701		21
Loews Corp		6,401		307	Shares (a)
Markel Corp (a)		282		297	Liberty Media Corp-Liberty Formula One - C	4,363		137
Marsh & McLennan Cos Inc		4,483		395	Shares (a)
Mercury General Corp		933		48	Liberty Media Corp-Liberty SiriusXM - A Shares	2,071		82
MetLife Inc		25,753		1,176	(a)
Old Republic International Corp		7,100		143	Liberty Media Corp-Liberty SiriusXM - C Shares	3,810		152
Prudential Financial Inc		12,621		1,163	(a)
Reinsurance Group of America Inc		1,511		218	News Corp - A Shares	9,119		117
RenaissanceRe Holdings Ltd		895		124	News Corp - B Shares	3,496		45
Torchmark Corp		2,459		206	Tribune Media Co	2,118		97
Travelers Cos Inc/The		6,874		863	Twenty-First Century Fox Inc - A Shares	17,312		854
Unum Group		5,022		175	Twenty-First Century Fox Inc - B Shares	8,103		398
Voya Financial Inc		3,485		162	Viacom Inc - A Shares	582		20
Willis Towers Watson PLC		2,152		350	Viacom Inc - B Shares	8,176		241
WR Berkley Corp		2,227		171	Walt Disney Co/The	154,356		17,214
		$		82,079		$		53,967
Internet - 0.96%					Metal Fabrication & Hardware - 0.00%
Alphabet Inc - A Shares (a)		16,383		18,446	Timken Co/The	1,647		70
eBay Inc		11,766		396	Mining - 0.05%
Symantec Corp		14,529		305	Alcoa Corp (a)	4,379		130
		$		19,147	Freeport-McMoRan Inc	41,239		480
Iron & Steel - 0.05%					Newmont Mining Corp	8,838		302
Nucor Corp		8,993		551	Royal Gold Inc	893		78
Reliance Steel & Aluminum Co		1,662		136		$		990
Steel Dynamics Inc		4,512		165	Miscellaneous Manufacturers - 1.07%
United States Steel Corp		4,386		99	3M Co	1,559		312
		$		951	AptarGroup Inc	1,464		145
Leisure Products & Services - 0.07%					Carlisle Cos Inc	1,352		146
Brunswick Corp/DE		1,959		99	Crane Co	1,266		105
Carnival Corp		11,016		634	Donaldson Co Inc	294		14
Harley-Davidson Inc		3,945		145	Eaton Corp PLC	7,249		553
Norwegian Cruise Line Holdings Ltd (a)		5,031		259	General Electric Co	1,856,373		18,860
Royal Caribbean Cruises Ltd		2,760		331	Hexcel Corp	1,663		112
		$		1,468	Ingersoll-Rand PLC	3,539		354
Lodging - 0.01%					ITT Inc	2,143		113
Extended Stay America Inc		2,441		42	Parker-Hannifin Corp	2,935		484
Hyatt Hotels Corp		1,119		78	Textron Inc	4,738		252
Las Vegas Sands Corp		2,304		134		$		21,450
		$		254	Office & Business Equipment - 0.01%
Machinery - Construction & Mining - 0.02%					Xerox Corp	5,074		143
Caterpillar Inc		762		101	Oil & Gas - 9.50%
Oshkosh Corp		1,782		134	Anadarko Petroleum Corp	5,551		263
Terex Corp		1,746		54	Antero Resources Corp (a)	4,194		42
		$		289	Apache Corp	8,212		269
Machinery - Diversified - 0.09%					BP PLC ADR	540,982		22,245
AGCO Corp		1,645		106	Cabot Oil & Gas Corp	3,089		77
Cummins Inc		2,755		405	Centennial Resource Development Inc/DE (a)	4,397		58
Dover Corp		3,290		289	Chesapeake Energy Corp (a)	24,763		71
Gardner Denver Holdings Inc (a)		2,401		59	Chevron Corp	355,081		40,710
Gates Industrial Corp PLC (a)		1,452		22	Cimarex Energy Co	1,966		148
GrafTech International Ltd		2,000		27	CNX Resources Corp (a)	5,707		69
IDEX Corp		198		27	Concho Resources Inc (a)	2,806		336
Middleby Corp/The (a)		605		71	ConocoPhillips	440,157		29,795
Nordson Corp		193		25	Continental Resources Inc/OK (a)	1,340		62
Roper Technologies Inc		2,213		627	Devon Energy Corp	10,696		285
Wabtec Corp		1,290		89	Diamondback Energy Inc	118,816		12,252
Xylem Inc/NY		1,801		128	EOG Resources Inc	177,581		17,616
		$		1,875	EQT Corp	6,307		123
Media - 2.70%					Extraction Oil & Gas Inc (a)	6,401		25
Charter Communications Inc (a)		850		281	Exxon Mobil Corp	95,637		7,008
Comcast Corp - Class A		916,490		33,516	Helmerich & Payne Inc	2,623		147
Discovery Inc - A Shares (a)		3,762		107	Hess Corp	274,794		14,839
Discovery Inc - C Shares (a)		7,895		210	HollyFrontier Corp	3,850		217
DISH Network Corp (a)		5,267		162	Marathon Oil Corp	19,153		302
John Wiley & Sons Inc		1,225		63	Marathon Petroleum Corp	18,128		1,201
Liberty Broadband Corp - A Shares (a)		634		54	Murphy Oil Corp	4,138		113
					Nabors Industries Ltd	10,531		31

See accompanying notes.

140

Schedule of Investments LargeCap Value Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Oil & Gas (continued)					REITs - 2.84%
Newfield Exploration Co (a)		3,649	$	67	AGNC Investment Corp		12,340	$	221
Noble Energy Inc		11,125		249	Alexandria Real Estate Equities Inc		2,268		299
Occidental Petroleum Corp		12,534		837	American Campus Communities Inc		3,356		154
Parsley Energy Inc (a)		2,226		41	American Homes 4 Rent		6,187		137
Patterson-UTI Energy Inc		6,241		76	Annaly Capital Management Inc		61,968		647
PBF Energy Inc		3,115		114	Apartment Investment & Management Co		3,609		179
Phillips 66		307,840		29,371	Apple Hospitality REIT Inc		5,821		95
Pioneer Natural Resources Co		3,196		455	AvalonBay Communities Inc		3,511		677
QEP Resources Inc (a)		6,319		52	Boston Properties Inc		3,929		518
Range Resources Corp		5,894		65	Brandywine Realty Trust		4,377		66
SM Energy Co		2,926		57	Brixmor Property Group Inc		7,306		125
Transocean Ltd (a)		12,870		110	Brookfield Property REIT Inc		3,614		66
Valero Energy Corp		113,336		9,954	Camden Property Trust		2,136		207
Whiting Petroleum Corp (a)		2,434		70	Chimera Investment Corp		4,981		95
		$		189,822	Corporate Office Properties Trust		2,794		69
Oil & Gas Services - 1.06%					Crown Castle International Corp		76,395		8,943
Apergy Corp (a)		2,212		74	CubeSmart		4,698		145
Baker Hughes a GE Co		11,724		276	Digital Realty Trust Inc		3,408		369
Halliburton Co		227,845		7,145	Douglas Emmett Inc		4,017		152
National Oilwell Varco Inc		8,703		257	Duke Realty Corp		8,388		245
RPC Inc		1,979		21	Empire State Realty Trust Inc		4,011		62
Schlumberger Ltd		305,102		13,489	EPR Properties		1,918		140
		$		21,262	Equity Commonwealth		3,113		101
Packaging & Containers - 0.05%					Equity Residential		8,989		652
Ardagh Group SA		1,459		18	Essex Property Trust Inc		1,758		477
Ball Corp		5,565		291	Extra Space Storage Inc		578		57
Bemis Co Inc		2,199		107	Federal Realty Investment Trust		1,718		228
Berry Global Group Inc (a)		1,701		84	Gaming and Leisure Properties Inc		3,376		127
Graphic Packaging Holding Co		6,368		77	HCP Inc		7,797		246
Owens-Illinois Inc		3,767		76	Healthcare Trust of America Inc		5,101		145
Silgan Holdings Inc		1,639		45	Highwoods Properties Inc		2,677		119
Sonoco Products Co		2,401		138	Hospitality Properties Trust		4,191		112
Westrock Co		5,882		239	Host Hotels & Resorts Inc		16,552		299
		$		1,075	Hudson Pacific Properties Inc		3,351		109
Pharmaceuticals - 8.63%					Invitation Homes Inc		7,130		160
Agios Pharmaceuticals Inc (a)		95		5	JBG SMITH Properties		2,519		97
Allergan PLC		5,623		810	Kilroy Realty Corp		2,256		159
Bristol-Myers Squibb Co		12,702		627	Kimco Realty Corp		9,702		165
Cardinal Health Inc		154,913		7,741	Lamar Advertising Co		310		23
Cigna Corp		48,589		9,708	Liberty Property Trust		3,640		172
CVS Health Corp		852,217		55,863	Life Storage Inc		1,135		111
Elanco Animal Health Inc (a)		1,114		33	Medical Properties Trust Inc		9,136		166
Eli Lilly & Co		9,567		1,147	MFA Financial Inc		12,366		91
Herbalife Nutrition Ltd (a)		2,077		124	Mid-America Apartment Communities Inc		2,619		265
Jazz Pharmaceuticals PLC (a)		220		28	National Retail Properties Inc		3,815		201
Johnson & Johnson		343,886		45,764	New Residential Investment Corp		8,910		151
McKesson Corp		2,834		363	Omega Healthcare Investors Inc		4,452		179
Merck & Co Inc		55,820		4,155	Outfront Media Inc		3,437		71
Mylan NV (a)		8,448		253	Paramount Group Inc		5,017		73
Perrigo Co PLC		2,908		135	Park Hotels & Resorts Inc		4,881		147
Pfizer Inc		631,565		26,810	Prologis Inc		10,382		718
Premier Inc (a)		1,237		49	Public Storage		72,279		15,361
Sanofi ADR		435,435		18,920	Rayonier Inc		3,271		100
		$		172,535	Realty Income Corp		7,876		541
					Regency Centers Corp		3,586		233
Pipelines - 0.09%					Retail Properties of America Inc		5,566		70
Cheniere Energy Inc (a)		1,163		76	Senior Housing Properties Trust		6,239		86
Equitrans Midstream Corp		5,018		104	Simon Property Group Inc		96,374		17,551
Kinder Morgan Inc/DE		31,473		570	SL Green Realty Corp		1,882		174
ONEOK Inc		3,979		256	Spirit Realty Capital Inc		2,410		96
Targa Resources Corp		5,095		219	Starwood Property Trust Inc		6,659		147
Williams Cos Inc/The		20,160		543	STORE Capital Corp		4,782		155
		$		1,768	Sun Communities Inc		2,030		223
Real Estate - 0.01%					Two Harbors Investment Corp		6,579		96
CBRE Group Inc (a)		2,734		125	UDR Inc		6,025		264
Jones Lang LaSalle Inc		1,078		155	Ventas Inc		9,222		595
		$		280	VEREIT Inc		23,032		186
					VICI Properties Inc (b)		9,621		207
					Vornado Realty Trust		3,968		277

See accompanying notes.

141

Schedule of Investments LargeCap Value Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held      Value (000’s)				COMMON STOCKS (continued)		Shares Held     Value (000’s)
REITs (continued)					Software (continued)
Weingarten Realty Investors		3,240	$	93	Take-Two Interactive Software Inc (a)		1,070	$	113
Welltower Inc		6,170		478	Teradata Corp (a)		1,001		44
Weyerhaeuser Co		12,452		327	Zynga Inc (a)		18,889		85
WP Carey Inc		3,745		280			$		91,907
		$		56,772	Telecommunications - 3.09%
Retail - 5.26%					ARRIS International PLC (a)		3,936		124
Advance Auto Parts Inc		72,095		11,478	AT&T Inc		1,121,388		33,709
AutoNation Inc (a)		1,598		62	CenturyLink Inc		21,588		331
AutoZone Inc (a)		232		197	Cisco Systems Inc		75,267		3,559
Best Buy Co Inc		4,082		242	CommScope Holding Co Inc (a)		4,797		100
CarMax Inc (a)		1,637		96	EchoStar Corp (a)		1,405		58
Casey's General Stores Inc		864		111	Juniper Networks Inc		7,996		207
Darden Restaurants Inc		1,480		155	Motorola Solutions Inc		151,474		17,709
Dick's Sporting Goods Inc		2,160		76	Sprint Corp (a)		15,988		100
Dollar General Corp		280,776		32,410	Telephone & Data Systems Inc		2,525		91
Dollar Tree Inc (a)		5,484		531	T-Mobile US Inc (a)		1,749		122
Foot Locker Inc		2,753		154	United States Cellular Corp (a)		483		28
Gap Inc/The		5,014		128	Verizon Communications Inc		100,425		5,529
Genuine Parts Co		3,256		325			$		61,667
Home Depot Inc/The		102,540		18,819	Textiles - 0.01%
Kohl's Corp		3,891		267	Mohawk Industries Inc (a)		1,411		182
L Brands Inc		4,512		126	Toys, Games & Hobbies - 0.00%
Lowe's Cos Inc		319,333		30,707	Hasbro Inc		608		55
Macy's Inc		7,344		193	Transportation - 1.63%
McDonald's Corp		10,389		1,857	CSX Corp		11,099		729
Michaels Cos Inc/The (a)		2,986		41	FedEx Corp		72,550		12,883
MSC Industrial Direct Co Inc		690		58	Genesee & Wyoming Inc (a)		1,189		93
Nu Skin Enterprises Inc		1,018		67	Kansas City Southern		2,351		249
Penske Automotive Group Inc		1,103		52	Kirby Corp (a)		1,340		100
Qurate Retail Inc (a)		9,732		212	Knight-Swift Transportation Holdings Inc		3,189		101
Tapestry Inc		5,378		208	Norfolk Southern Corp		6,664		1,118
Target Corp		13,484		984	Ryder System Inc		1,326		77
Walgreens Boots Alliance Inc		19,995		1,445	Schneider National Inc		1,543		33
Walmart Inc		32,854		3,148	Union Pacific Corp		108,464		17,253
Williams-Sonoma Inc		1,622		88			$		32,636
Yum China Holdings Inc		7,565		276
Yum! Brands Inc		5,955		560	Water - 0.02%
		$		105,073	American Water Works Co Inc		2,992		286
					TOTAL COMMON STOCKS		$		1,936,154
Savings & Loans - 0.53%					INVESTMENT COMPANIES - 2.75%		Shares Held      Value (000's)
New York Community Bancorp Inc		887,827		10,317
People's United Financial Inc		8,828		145	Money Market Funds - 2.72%
Sterling Bancorp/DE		5,535		106	Principal Government Money Market Fund		54,404,826		54,405
		$		10,568	2.32%(c),(d)
Semiconductors - 3.44%					Principal Exchange-Traded Funds - 0.03%
Analog Devices Inc		5,156		510	Principal Shareholder Yield Index ETF (c)		4,298		131
Broadcom Inc		42,359		11,363	Principal Sustainable Momentum Index ETF (c)		5,382		143
Cypress Semiconductor Corp		3,180		44	Principal U.S. Mega-Cap Multi-Factor Index		15,323		407
Intel Corp		106,694		5,028	ETF (c)
Lam Research Corp		63,687		10,800			$		681
Micron Technology Inc (a)		14,060		537	TOTAL INVESTMENT COMPANIES		$		55,086
NXP Semiconductors NV		9,785		852	Total Investments		$		1,991,240
Qorvo Inc (a)		2,849		186	Other Assets and Liabilities -  0.36%				7,115
QUALCOMM Inc		425,754		21,083	TOTAL NET ASSETS - 100.00%		$		1,998,355
Skyworks Solutions Inc		1,292		94
Teradyne Inc		3,474		125	(a) Non-income producing security
Texas Instruments Inc		179,709		18,093	(b)	Restricted Security. Please see Restricted Security Sub-Schedule for more
		$		68,715		information.
Shipbuilding - 0.00%					(c)	Affiliated Security. Security is either an affiliate (and registered under the
Huntington Ingalls Industries Inc		199		41		Investment Company Act of 1940) or an affiliate as defined by the Investment
Software - 4.60%						Company Act of 1940 (controls 5.0% or more of the outstanding voting
Akamai Technologies Inc (a)		442		29		shares of the security). Please see affiliated sub-schedule for transactional
Autodesk Inc (a)		583		86		information.
Cerner Corp (a)		2,878		158	(d)	Current yield shown is as of period end.
Dun & Bradstreet Corp/The		554		80
Fidelity National Information Services Inc		7,333		767
Microsoft Corp		415,388		43,379
Nuance Communications Inc (a)		6,992		111
Oracle Corp		931,097		46,769
Synopsys Inc (a)		3,067		286

See accompanying notes.

142

Schedule of Investments
LargeCap Value Fund III
January 31, 2019 (unaudited)
Portfolio Summary  (unaudited)
Sector		Percent
Consumer, Non-cyclical		22.84			%
Financial		22.34			%
Energy		10.65			%
Industrial		10.10			%
Technology		9.13			%
Communications		6.79			%
Utilities		6.27			%
Consumer, Cyclical		5.74			%
Basic Materials		3.03			%
Investment Companies		2.72			%
Domestic Equity Funds		0.03			%
Other Assets and Liabilities		0.36			%
TOTAL NET ASSETS		100.00			%
Affiliated Securities		October 31, 2018				Purchases					Sales		January 31, 2019
		Value							Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	83,492 $							259,671	$	288,758	$		54,405
Principal Shareholder Yield Index ETF		—							135		—			131
Principal Sustainable Momentum Index ETF		—							142		—			143
Principal U.S. Mega-Cap Multi-Factor Index ETF		—							413		—			407
	$	83,492 $							260,361	$	288,758	$		55,086
				Realized Gain/Loss					Realized Gain from				Change in Unrealized
		Income		on Investments					Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	376	$				— $			— $				—
Principal Shareholder Yield Index ETF		1					—			—				(4	)
Principal Sustainable Momentum Index ETF		—					—			—				1
Principal U.S. Mega-Cap Multi-Factor Index ETF		3					—			—				(6	)
	$	380	$				— $			— $				(9	)
Amounts in thousands
Restricted Securities
Security Name		Acquisition Date							Cost		Value		Percent of Net Assets
VICI Properties Inc		04/09/2018-01/14/2019						$	193	$	207			0.01	%
Total										$	207			0.01	%
Amounts in thousands.
Futures Contracts
Description and Expiration Date		Type		Contracts							Notional Amount		Value and Unrealized Appreciation/(Depreciation)
S&P 500 Emini; March 2019		Long				131		$	17,714			$		490
Total												$		490
Amounts in thousands except contracts.

See accompanying notes.

143

Schedule of Investments
MidCap Fund
January 31, 2019 (unaudited)

COMMON STOCKS - 99.91%	Shares Held         Value (000's)				COMMON STOCKS (continued)		Shares Held Value (000’s)
Aerospace & Defense - 4.88%					Lodging - 2.90%
HEICO Corp - Class A		464,477	$	32,528	Hilton Worldwide Holdings Inc		3,848,739	$	286,654
TransDigm Group Inc (a)	1,673,410			654,303	Hyatt Hotels Corp		1,744,836		121,982
		$		686,831			$		408,636
Banks - 2.68%					Machinery - Diversified - 1.65%
First Republic Bank/CA	2,938,814			283,978	Cognex Corp		136,453		6,209
M&T Bank Corp		568,737		93,580	Roper Technologies Inc		799,037		226,335
		$		377,558			$		232,544
Beverages - 0.52%					Media - 4.84%
Brown-Forman Corp - B Shares	1,538,890			72,713	Liberty Broadband Corp - A Shares (a)		672,380		56,998
Building Materials - 3.60%					Liberty Broadband Corp - C Shares (a)		1,286,052		109,340
Martin Marietta Materials Inc	1,174,726			207,551	Liberty Global PLC - A Shares (a)		493,690		12,046
Summit Materials Inc (a)	3,265,427			49,830	Liberty Global PLC - C Shares (a)		5,993,341		141,203
Vulcan Materials Co	2,449,778			249,020	Liberty Media Corp-Liberty Braves - A Shares (a)		146,140		3,966
		$		506,401	Liberty Media Corp-Liberty Braves - C Shares (a)		599,994		16,176
Chemicals - 1.12%					Liberty Media Corp-Liberty Formula One - A		543,909		16,643
Air Products & Chemicals Inc		955,211		157,027	Shares (a)
Commercial Services - 11.51%					Liberty Media Corp-Liberty Formula One - C		4,848,453		152,096
AMERCO		306,196		111,045	Shares (a)
Gartner Inc (a)	3,117,269			423,606	Liberty Media Corp-Liberty SiriusXM - A Shares		1,031,866		41,048
					(a)
IHS Markit Ltd (a)	5,186,548			269,285
Moody's Corp		884,443		140,193	Liberty Media Corp-Liberty SiriusXM - C Shares		3,302,203		131,956
					(a)
S&P Global Inc		697,881		133,749
TransUnion	4,233,043			257,454			$		681,472
Verisk Analytics Inc (a)	2,421,954			284,361	Pharmaceuticals - 0.04%
		$		1,619,693	Elanco Animal Health Inc (a)		175,497		5,121
Distribution & Wholesale - 3.51%					Private Equity - 7.59%
Copart Inc (a)	5,344,026			270,568	Brookfield Asset Management Inc		14,187,498		610,772
Fastenal Co	1,514,247			91,551	Kennedy-Wilson Holdings Inc		6,022,463		120,389
HD Supply Holdings Inc (a)	1,069,738			44,865	KKR & Co Inc		7,718,013		173,269
KAR Auction Services Inc	1,656,146			86,136	Onex Corp		2,892,329		163,706
		$		493,120			$		1,068,136
Electric - 2.05%					Real Estate - 3.65%
Brookfield Infrastructure Partners LP	5,799,148			227,095	Brookfield Business Partners LP		450,901		14,357
Brookfield Renewable Partners LP	2,128,835			61,395	Brookfield Property Partners LP		2,712,438		49,366
		$		288,490	CBRE Group Inc (a)		6,386,557		292,185
Electronics - 1.47%					Howard Hughes Corp/The (a)		1,417,831		157,436
Mettler-Toledo International Inc (a)		324,040		206,789			$		513,344
Entertainment - 2.57%					REITs - 5.37%
Live Nation Entertainment Inc (a)	3,081,862			164,911	Equinix Inc		374,342		147,491
Vail Resorts Inc	1,041,189			196,014	SBA Communications Corp (a)		3,326,790		607,239
		$		360,925			$		754,730
Hand & Machine Tools - 0.96%					Retail - 10.18%
Colfax Corp (a)	5,463,161			135,213	CarMax Inc (a)		6,033,235		354,634
					Dollar General Corp		1,365,864		157,662
Healthcare - Products - 0.78%					O'Reilly Automotive Inc (a)		1,359,256		468,481
IDEXX Laboratories Inc (a)		515,728		109,737	Restaurant Brands International Inc		6,951,515		435,512
Home Builders - 1.47%					Ross Stores Inc		176,731		16,280
Lennar Corp - A Shares	2,688,117			127,471			$		1,432,569
Lennar Corp - B Shares		37,905		1,445	Semiconductors - 1.52%
NVR Inc (a)		29,123		77,467	Microchip Technology Inc		2,668,113		214,436
		$		206,383	Software - 8.00%
Insurance - 10.58%					ANSYS Inc (a)		1,473,036		242,094
Aon PLC		884,590		138,199	Autodesk Inc (a)		1,431,884		210,773
Arch Capital Group Ltd (a)	7,535,664			221,172	Black Knight Inc (a)		6,078,031		298,979
Brown & Brown Inc	6,669,920			181,155	CDK Global Inc		664,247		32,488
Fidelity National Financial Inc	8,610,324			311,349	Guidewire Software Inc (a)		1,406,330		121,901
Markel Corp (a)		450,697		474,814	MSCI Inc		632,355		107,671
Progressive Corp/The	2,375,315			159,835	RealPage Inc (a)		1,990,718		111,022
Trisura Group Ltd (a)		102,584		2,108			$		1,124,928
		$		1,488,632	Telecommunications - 1.68%
Internet - 4.33%					EchoStar Corp (a)		585,850		24,008
Liberty Expedia Holdings Inc (a)	1,004,494			41,174	GCI Liberty Inc (a)		2,419,713		123,163
Shopify Inc (a)		240,945		40,592	Motorola Solutions Inc		761,676		89,048
VeriSign Inc (a)	2,042,613			345,753			$		236,219
Wix.com Ltd (a)	1,662,742			181,821
		$		609,340	Textiles - 0.46%
					Mohawk Industries Inc (a)		497,749		64,105
					TOTAL COMMON STOCKS	$	14,055,092

See accompanying notes.

144

     Schedule of Investments MidCap Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 0.27%		Shares Held Value (000's)
Money Market Funds - 0.27%
Principal Government Money Market Fund		37,828,450	$	37,828
2.32%(b),(c)
TOTAL INVESTMENT COMPANIES		$		37,828
Total Investments	$	14,092,920
Other Assets and Liabilities -  (0.18)%				(25,791	)
TOTAL NET ASSETS - 100.00%	$	14,067,129

(a)	Non-income producing security
(b)	Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.
(c)	Current yield shown is as of period end.

Portfolio Summary  (unaudited)
Sector	Percent
Financial	29.87	%
Consumer, Cyclical	21.09	%
Consumer, Non-cyclical	12.85	%
Industrial	12.56	%
Communications	10.85	%
Technology	9.52	%
Utilities	2.05	%
Basic Materials	1.12	%
Investment Companies	0.27	%
Other Assets and Liabilities	(0.18	)%
TOTAL NET ASSETS	100.00	%

Affiliated Securities		October 31, 2018		Purchases			Sales		January 31, 2019
		Value			Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	3	$		210,246	$	172,421	$		37,828
	$	3	$		210,246	$	172,421	$		37,828
				Realized Gain/Loss			Realized Gain from		Change in Unrealized
		Income		on Investments	Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	33	$	— $			— $			—
	$	33	$	— $			— $			—
Amounts in thousands

See accompanying notes.

145

     Schedule of Investments MidCap Growth Fund January 31, 2019 (unaudited)

COMMON STOCKS - 97.75%	Shares Held  Value (000's)				COMMON STOCKS (continued)		Shares Held Value (000’s)
Aerospace & Defense - 1.01%					Office & Business Equipment - 2.69%
TransDigm Group Inc (a)		4,450	$	1,740	Zebra Technologies Corp (a)		26,686	$	4,633
Airlines - 2.31%					Oil & Gas - 1.89%
Alaska Air Group Inc		23,050		1,474	Diamondback Energy Inc		31,548		3,253
Spirit Airlines Inc (a)		42,560		2,503	Pharmaceuticals - 5.04%
		$		3,977	Aerie Pharmaceuticals Inc (a)		64,422		3,029
Apparel - 3.23%					DexCom Inc (a)		28,268		3,987
PVH Corp		26,788		2,923	Neurocrine Biosciences Inc (a)		19,114		1,686
VF Corp		31,489		2,650			$		8,702
		$		5,573	Retail - 8.49%
Automobile Parts & Equipment - 1.51%					Advance Auto Parts Inc		25,507		4,061
Aptiv PLC		33,023		2,613	Burlington Stores Inc (a)		21,360		3,668
Banks - 1.15%					Chipotle Mexican Grill Inc (a)		5,442		2,882
SVB Financial Group (a)		8,526		1,990	Ulta Beauty Inc (a)		13,811		4,031
Biotechnology - 3.53%							$		14,642
Exact Sciences Corp (a)		35,456		3,194	Semiconductors - 2.68%
Illumina Inc (a)		7,270		2,034	Advanced Micro Devices Inc (a)		80,190		1,957
Incyte Corp (a)		10,600		854	Cree Inc (a)		52,845		2,665
		$		6,082			$		4,622
Commercial Services - 10.53%					Software - 7.00%
CoStar Group Inc (a)		9,312		3,639	Fiserv Inc (a)		14,100		1,169
Euronet Worldwide Inc (a)		19,750		2,271	New Relic Inc (a)		8,425		857
Green Dot Corp (a)		44,772		3,314	ServiceNow Inc (a)		35,260		7,758
Square Inc (a)		29,632		2,114	Workday Inc (a)		12,655		2,297
Strategic Education Inc		16,670		1,824			$		12,081
TransUnion		34,920		2,124	Telecommunications - 3.22%
WEX Inc (a)		17,885		2,885	Ciena Corp (a)		43,800		1,668
		$		18,171	Motorola Solutions Inc		33,277		3,891
Computers - 4.45%							$		5,559
Logitech International SA		67,947		2,473	TOTAL COMMON STOCKS		$		168,626
Pure Storage Inc (a)		118,258		2,118	INVESTMENT COMPANIES - 3.56%		Shares Held Value (000's)
Rapid7 Inc (a)		76,692		3,082	Money Market Funds - 3.56%
		$		7,673	Principal Government Money Market Fund		6,138,997		6,139
Distribution & Wholesale - 2.03%					2.32%(b),(c)
G-III Apparel Group Ltd (a)		100,665		3,510	TOTAL INVESTMENT COMPANIES		$		6,139
Electronics - 3.24%					Total Investments		$		174,765
Keysight Technologies Inc (a)		75,482		5,587	Other Assets and Liabilities -  (1.31)%				(2,253	)
Healthcare - Products - 5.12%					TOTAL NET ASSETS - 100.00%		$		172,512
ABIOMED Inc (a)		7,964		2,796
IDEXX Laboratories Inc (a)		7,865		1,674	(a)	Non-income producing security
Insulet Corp (a)		21,645		1,757	(b)	Affiliated Security. Security is either an affiliate (and registered under the
Tandem Diabetes Care Inc (a)		59,792		2,600		Investment Company Act of 1940) or an affiliate as defined by the Investment
		$		8,827		Company Act of 1940 (controls 5.0% or more of the outstanding voting
Healthcare - Services - 6.66%						shares of the security). Please see affiliated sub-schedule for transactional
Centene Corp (a)		41,365		5,401		information.
WellCare Health Plans Inc (a)		22,023		6,089	(c)	Current yield shown is as of period end.
		$		11,490
Home Furnishings - 2.75%						Portfolio Summary  (unaudited)
Dolby Laboratories Inc		41,479		2,681	Sector				Percent
iRobot Corp (a)		22,955		2,061	Consumer, Non-cyclical				30.88	%
		$		4,742	Consumer, Cyclical				21.05	%
Insurance - 2.01%					Communications				17.78	%
Progressive Corp/The		51,573		3,470	Technology				16.82	%
Internet - 14.56%					Industrial				6.17	%
Etsy Inc (a)		94,543		5,167	Investment Companies				3.56	%
GrubHub Inc (a)		16,703		1,343	Financial				3.16	%
IAC/InterActiveCorp (a)		19,394		4,097	Energy				1.89	%
MercadoLibre Inc (a)		5,190		1,889	Other Assets and Liabilities				(1.31	)%
RingCentral Inc (a)		34,115		3,154	TOTAL NET ASSETS				100.00	%
Twilio Inc (a)		18,692		2,081
Twitter Inc (a)		75,977		2,550
Zendesk Inc (a)		71,557		4,832
		$		25,113
Leisure Products & Services - 0.73%
Royal Caribbean Cruises Ltd		10,500		1,261
Machinery - Diversified - 1.92%
Chart Industries Inc (a)		44,375		3,315

See accompanying notes.

146

Schedule of Investments
MidCap Growth Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018		Purchases			Sales		January 31, 2019
		Value			Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	3,975	$		23,153	$	20,989	$		6,139
	$	3,975	$		23,153	$	20,989	$		6,139
				Realized Gain/Loss			Realized Gain from		Change in Unrealized
		Income		on Investments	Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	22	$	— $			— $		—
	$	22	$	— $			— $		—
Amounts in thousands

See accompanying notes.

147

Schedule of Investments MidCap Growth Fund III

January 31, 2019 (unaudited)

COMMON STOCKS - 98.10%	Shares Held   Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Advertising - 0.06%					Building Materials (continued)
Interpublic Group of Cos Inc/The		3,490	$	80	Vulcan Materials Co		4,046	$	411
Omnicom Group Inc		6,719		523			$		12,305
		$		603	Chemicals - 1.15%
Aerospace & Defense - 0.75%					Albemarle Corp		21,126		1,705
Curtiss-Wright Corp		333		38	Axalta Coating Systems Ltd (a)		3,910		100
Harris Corp		39,902		6,112	Celanese Corp		3,958		379
HEICO Corp		1,828		154	Chemours Co/The		7,792		279
HEICO Corp - Class A		3,351		235	FMC Corp		2,462		196
Spirit AeroSystems Holdings Inc		3,464		289	Huntsman Corp		140,000		3,076
TransDigm Group Inc (a)		1,584		619	International Flavors & Fragrances Inc		1,552		220
		$		7,447	NewMarket Corp		334		134
Apparel - 0.43%					RPM International Inc		1,746		100
Canada Goose Holdings Inc (a)		48,429		2,492	Univar Inc (a)		233,660		4,867
Capri Holdings Ltd (a)		3,474		147	Versum Materials Inc		5,103		188
Carter's Inc		2,003		166	Westlake Chemical Corp		1,677		124
Columbia Sportswear Co		190		17	WR Grace & Co		2,124		151
Hanesbrands Inc		15,783		237			$		11,519
Skechers U.S.A. Inc (a)		3,148		85	Commercial Services - 11.28%
Under Armour Inc - Class A (a)		6,018		125	Booz Allen Hamilton Holding Corp		8,233		404
Under Armour Inc - Class C (a)		6,316		120	Bright Horizons Family Solutions Inc (a)		36,084		4,178
VF Corp		11,263		948	Cintas Corp		48,951		9,178
		$		4,337	CoreLogic Inc/United States (a)		2,496		91
Automobile Parts & Equipment - 1.28%					CoStar Group Inc (a)		1,699		664
Allison Transmission Holdings Inc		5,156		251	Equifax Inc		1,051		112
Aptiv PLC		58,618		4,638	Euronet Worldwide Inc (a)		97,756		11,243
Lear Corp		986		152	FleetCor Technologies Inc (a)		2,862		578
Visteon Corp (a)		34,641		2,664	Gartner Inc (a)		54,124		7,355
WABCO Holdings Inc (a)		44,564		5,090	Global Payments Inc		115,500		12,969
		$		12,795	Grand Canyon Education Inc (a)		2,004		186
Banks - 0.78%					H&R Block Inc		2,143		51
BOK Financial Corp		322		27	IHS Markit Ltd (a)		116,917		6,070
Comerica Inc		1,005		79	MarketAxess Holdings Inc		55,394		11,897
East West Bancorp Inc		130,409		6,562	Moody's Corp		33,355		5,287
Northern Trust Corp		2,723		241	Morningstar Inc		18,975		2,356
Pinnacle Financial Partners Inc		1,539		83	Quanta Services Inc		2,126		75
Signature Bank/New York NY		1,444		184	Ritchie Bros Auctioneers Inc		102,686		3,693
SVB Financial Group (a)		1,326		309	Robert Half International Inc		6,283		405
Synovus Financial Corp		2,274		80	Rollins Inc		6,281		234
Texas Capital Bancshares Inc (a)		1,505		88	Sabre Corp		10,217		235
Western Alliance Bancorp (a)		2,708		120	Service Corp International/US		2,704		116
		$		7,773	ServiceMaster Global Holdings Inc (a)		80,073		3,122
Beverages - 1.07%					Square Inc (a)		53,011		3,782
Brown-Forman Corp - A Shares		2,180		102	Total System Services Inc		8,725		782
Brown-Forman Corp - B Shares		9,253		437	TransUnion		116,111		7,062
Constellation Brands Inc		24,223		4,207	United Rentals Inc (a)		30,933		3,875
Keurig Dr Pepper Inc		7,518		205	Verisk Analytics Inc (a)		100,164		11,760
Monster Beverage Corp (a)		100,324		5,742	WEX Inc (a)		1,831		295
		$		10,693	Worldpay Inc (a)		54,553		4,554
							$		112,609
Biotechnology - 3.06%					Computers - 2.22%
Alexion Pharmaceuticals Inc (a)		50,865		6,254
Alnylam Pharmaceuticals Inc (a)		3,313		277	Dell Technologies Inc (a)		2,502		122
BioMarin Pharmaceutical Inc (a)		7,373		724	EPAM Systems Inc (a)		78,044		11,042
Bluebird Bio Inc (a)		20,395		2,721	Fortinet Inc (a)		7,623		584
Exact Sciences Corp (a)		53,700		4,837	Genpact Ltd		2,612		78
Exelixis Inc (a)		12,195		287	Mercury Systems Inc (a)		87,342		5,121
Illumina Inc (a)		17,261		4,830	NCR Corp (a)		4,693		125
Incyte Corp (a)		34,812		2,805	NetApp Inc		12,310		785
Ionis Pharmaceuticals Inc (a)		5,232		304	Nutanix Inc (a)		4,526		232
Sage Therapeutics Inc (a)		23,251		3,316	Perspecta Inc		198,881		3,987
Seattle Genetics Inc (a)		54,545		4,169	Pure Storage Inc (a)		6,950		124
		$		30,524			$		22,200
Building Materials - 1.23%					Consumer Products - 0.16%
Armstrong World Industries Inc		2,054		140	Avery Dennison Corp		4,002		418
Eagle Materials Inc		1,957		139	Church & Dwight Co Inc		9,595		620
Fortune Brands Home & Security Inc		109,536		4,962	Clorox Co/The		3,655		542
Lennox International Inc		1,716		394	Spectrum Brands Holdings Inc		764		43
Martin Marietta Materials Inc		34,171		6,037			$		1,623
Masco Corp		6,854		222

See accompanying notes.

148

Schedule of Investments MidCap Growth Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held  Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Distribution & Wholesale - 3.09%					Food - 0.89%
Copart Inc (a)		6,628	$	336	Campbell Soup Co		5,108	$	181
Fastenal Co		97,470		5,893	Hershey Co/The		6,052		642
HD Supply Holdings Inc (a)		4,397		185	Kellogg Co		6,624		391
KAR Auction Services Inc		5,599		291	Lamb Weston Holdings Inc		100,423		7,260
LKQ Corp (a)		5,364		141	McCormick & Co Inc/MD		233		29
Pool Corp		104,452		15,658	Post Holdings Inc (a)		1,571		146
Watsco Inc		29,131		4,296	Sprouts Farmers Market Inc (a)		5,245		126
WW Grainger Inc		13,654		4,033	US Foods Holding Corp (a)		2,420		82
		$		30,833			$		8,857
Diversified Financial Services - 1.29%					Forest Products & Paper - 0.01%
Affiliated Managers Group Inc		34,072		3,576	International Paper Co		2,794		133
Air Lease Corp		428		16	Hand & Machine Tools - 0.02%
Alliance Data Systems Corp		1,547		275	Lincoln Electric Holdings Inc		2,721		235
Ameriprise Financial Inc		39,826		5,042	Healthcare - Products - 6.55%
Cboe Global Markets Inc		3,391		316	ABIOMED Inc (a)		26,448		9,285
Credit Acceptance Corp (a)		443		176	Align Technology Inc (a)		41,896		10,430
Discover Financial Services		7,138		482	Bio-Techne Corp		1,628		284
E*TRADE Financial Corp		3,241		151	Bruker Corp		2,122		74
Eaton Vance Corp		4,964		191	Cantel Medical Corp		1,661		135
Evercore Inc - Class A		1,843		165	Cooper Cos Inc/The		24,878		6,935
Lazard Ltd		4,724		188	Edwards Lifesciences Corp (a)		109,806		18,714
LPL Financial Holdings Inc		3,729		262	Henry Schein Inc (a)		2,145		167
OneMain Holdings Inc		475		14	Hill-Rom Holdings Inc		1,957		196
Raymond James Financial Inc		2,145		173	ICU Medical Inc (a)		706		176
Santander Consumer USA Holdings Inc		854		16	IDEXX Laboratories Inc (a)		59,931		12,752
SEI Investments Co		5,647		269	Integra LifeSciences Holdings Corp (a)		2,489		118
Synchrony Financial		12,544		377	Intuitive Surgical Inc (a)		8,107		4,245
T Rowe Price Group Inc		9,456		884	Masimo Corp (a)		2,061		256
Virtu Financial Inc		1,958		50	Penumbra Inc (a)		1,314		191
Western Union Co/The		11,083		202	ResMed Inc		6,655		633
		$		12,825	Teleflex Inc		284		78
Electrical Components & Equipment - 0.59%					Varian Medical Systems Inc (a)		4,393		580
AMETEK Inc		2,968		216	West Pharmaceutical Services Inc		1,454		157
Energizer Holdings Inc		1,439		68			$		65,406
Hubbell Inc		1,636		179	Healthcare - Services - 2.61%
Littelfuse Inc		31,035		5,454	Catalent Inc (a)		1,636		61
		$		5,917	Centene Corp (a)		56,456		7,371
Electronics - 4.09%					Charles River Laboratories International Inc (a)		1,533		189
Allegion PLC		32,619		2,800	Chemed Corp		709		211
Amphenol Corp		68,399		6,014	DaVita Inc (a)		2,197		123
Coherent Inc (a)		32,329		3,821	Encompass Health Corp		4,340		290
FLIR Systems Inc		109,653		5,360	ICON PLC (a)		58,335		8,160
Fortive Corp		8,823		662	IQVIA Holdings Inc (a)		41,420		5,344
Gentex Corp		8,224		174	Laboratory Corp of America Holdings (a)		964		134
Keysight Technologies Inc (a)		175,518		12,992	Molina Healthcare Inc (a)		2,806		373
Mettler-Toledo International Inc (a)		1,158		739	WellCare Health Plans Inc (a)		13,565		3,751
National Instruments Corp		3,954		175			$		26,007
Sensata Technologies Holding PLC (a)		5,319		253	Home Builders - 0.72%
Trimble Inc (a)		194,644		7,330	DR Horton Inc		152,355		5,858
Waters Corp (a)		2,275		526	Lennar Corp - A Shares		8,559		406
		$		40,846	Lennar Corp - B Shares		742		28
Engineering & Construction - 0.30%					NVR Inc (a)		168		447
Fluor Corp		77,983		2,852	PulteGroup Inc		6,759		188
frontdoor Inc (a)		3,129		93	Thor Industries Inc		2,009		131
		$		2,945	Toll Brothers Inc		3,276		121
Entertainment - 1.54%							$		7,179
International Game Technology PLC		623		10	Home Furnishings - 0.01%
Lions Gate Entertainment Corp - A shares		198,372		3,644	Tempur Sealy International Inc (a)		2,031		108
Lions Gate Entertainment Corp - B shares		371		7	Housewares - 0.04%
Live Nation Entertainment Inc (a)		4,508		241	Scotts Miracle-Gro Co/The		1,021		76
Six Flags Entertainment Corp		3,059		188	Toro Co/The		4,518		269
Vail Resorts Inc		60,172		11,328			$		345
		$		15,418	Insurance - 1.51%
Environmental Control - 1.14%					Alleghany Corp		118		75
Republic Services Inc		1,528		117	Arch Capital Group Ltd (a)		4,002		117
Waste Connections Inc		134,138		11,209	Arthur J Gallagher & Co		130,805		9,772
		$		11,326	Axis Capital Holdings Ltd		582		31
					Brown & Brown Inc		1,866		51

See accompanying notes.

149

Schedule of Investments MidCap Growth Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Insurance (continued)					Media (continued)
Erie Indemnity Co		857	$	125	Sirius XM Holdings Inc	1,072,150 $		6,250
Everest Re Group Ltd		866		190			$	16,714
Markel Corp (a)		83		87	Miscellaneous Manufacturers - 1.71%
Progressive Corp/The		67,393		4,535	AO Smith Corp		227,605	10,893
RenaissanceRe Holdings Ltd		194		27	Donaldson Co Inc		5,134	243
Voya Financial Inc		1,346		63	Hexcel Corp		74,076	5,016
		$		15,073	Ingersoll-Rand PLC		6,388	639
Internet - 4.97%					Parker-Hannifin Corp		1,473	243
CDW Corp/DE		113,819		9,478	Textron Inc		1,355	72
Etsy Inc (a)		128,905		7,045			$	17,106
Expedia Group Inc		3,929		468	Office & Business Equipment - 0.05%
F5 Networks Inc (a)		3,065		493	Zebra Technologies Corp (a)		2,696	468
FireEye Inc (a)		6,342		112	Oil & Gas - 1.80%
GoDaddy Inc (a)		5,218		358	Antero Resources Corp (a)		5,699	57
GrubHub Inc (a)		91,667		7,370	Apache Corp		2,894	95
IAC/InterActiveCorp (a)		28,066		5,930	Cabot Oil & Gas Corp		15,175	379
Match Group Inc		2,258		121	Cimarex Energy Co		518	39
Okta Inc (a)		3,860		318	Concho Resources Inc (a)		826	99
Palo Alto Networks Inc (a)		2,964		637	Continental Resources Inc/OK (a)		1,797	83
Proofpoint Inc (a)		2,153		219	Diamondback Energy Inc		136,525	14,079
RingCentral Inc (a)		2,967		274	Newfield Exploration Co (a)		3,128	57
Shopify Inc (a)		21,701		3,656	Parsley Energy Inc (a)		162,988	3,028
TripAdvisor Inc (a)		4,385		252			$	17,916
Twilio Inc (a)		4,080		454	Oil & Gas Services - 0.00%
Twitter Inc (a)		254,642		8,546	RPC Inc		724	8
VeriSign Inc (a)		5,150		872
Zendesk Inc (a)		3,428		231	Packaging & Containers - 0.11%
Zillow Group Inc - A Shares (a)		1,716		60	Berry Global Group Inc (a)		3,441	169
Zillow Group Inc - C Shares (a)		78,315		2,748	Crown Holdings Inc (a)		5,578	285
		$		49,642	Graphic Packaging Holding Co		3,403	41
					Packaging Corp of America		4,327	408
Iron & Steel - 0.01%					Sealed Air Corp		3,790	150
Steel Dynamics Inc		2,625		96	Silgan Holdings Inc		1,899	52
Leisure Products & Services - 0.97%							$	1,105
Brunswick Corp/DE		91,981		4,628	Pharmaceuticals - 2.44%
Polaris Industries Inc		2,539		213	Agios Pharmaceuticals Inc (a)		1,962	105
Royal Caribbean Cruises Ltd		40,131		4,818	Alkermes PLC (a)		6,393	210
		$		9,659	AmerisourceBergen Corp		7,648	638
Lodging - 0.45%					DexCom Inc (a)		28,127	3,967
Caesars Entertainment Corp (a)		287,492		2,628	Elanco Animal Health Inc (a)		1,589	46
Choice Hotels International Inc		1,535		122	Herbalife Nutrition Ltd (a)		815	49
Extended Stay America Inc		5,507		94	Jazz Pharmaceuticals PLC (a)		47,805	6,018
Hilton Grand Vacations Inc (a)		4,169		126	Nektar Therapeutics (a)		5,090	215
Hilton Worldwide Holdings Inc		9,135		680	Neurocrine Biosciences Inc (a)		3,737	330
MGM Resorts International		1,428		42	PRA Health Sciences Inc (a)		26,371	2,794
Wyndham Destinations Inc		4,332		183	Premier Inc (a)		1,086	43
Wyndham Hotels & Resorts Inc		4,267		209	Sarepta Therapeutics Inc (a)		33,381	4,664
Wynn Resorts Ltd		3,366		414	Zoetis Inc		61,462	5,296
		$		4,498			$	24,375
Machinery - Construction & Mining - 0.58%					Pipelines - 0.09%
BWX Technologies Inc		124,790		5,793	Cheniere Energy Inc (a)		5,229	343
Machinery - Diversified - 3.72%					ONEOK Inc		7,918	509
Cognex Corp		139,130		6,330			$	852
Cummins Inc		1,752		258	Real Estate - 0.04%
Gardner Denver Holdings Inc (a)		2,522		62	CBRE Group Inc (a)		7,107	325
Graco Inc		173,490		7,517	Howard Hughes Corp/The (a)		661	74
IDEX Corp		60,718		8,370			$	399
Middleby Corp/The (a)		1,483		174	REITs - 1.27%
Nordson Corp		2,823		366	Alexandria Real Estate Equities Inc		299	39
Rockwell Automation Inc		47,023		7,972	CoreSite Realty Corp		1,532	151
Roper Technologies Inc		1,077		305	Equity LifeStyle Properties Inc		3,952	419
Xylem Inc/NY		80,806		5,759	Extra Space Storage Inc		4,852	479
		$		37,113	Gaming and Leisure Properties Inc		4,242	159
Media - 1.67%					Hudson Pacific Properties Inc		832	27
AMC Networks Inc (a)		1,900		120	Lamar Advertising Co		3,193	238
Cable One Inc		10,474		9,262	Life Storage Inc		95	9
CBS Corp		14,419		713	Omega Healthcare Investors Inc		1,761	71
FactSet Research Systems Inc		1,685		369	SBA Communications Corp (a)		59,800	10,915

See accompanying notes.

150

Schedule of Investments MidCap Growth Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held       Value (000’s)				COMMON STOCKS (continued)		Shares Held    Value (000’s)
REITs (continued)					Software (continued)
Taubman Centers Inc		2,496	$	124	Fair Isaac Corp (a)		1,278	$	288
		$		12,631	Fidelity National Information Services Inc		2,242		234
Retail - 9.23%					First Data Corp (a)		28,804		710
Advance Auto Parts Inc		1,405		224	Fiserv Inc (a)		132,369		10,977
AutoZone Inc (a)		7,685		6,512	Guidewire Software Inc (a)		2,614		227
Best Buy Co Inc		4,182		248	Jack Henry & Associates Inc		2,508		335
Burlington Stores Inc (a)		138,881		23,847	Manhattan Associates Inc (a)		3,138		153
CarMax Inc (a)		3,435		202	MSCI Inc		30,934		5,267
Chipotle Mexican Grill Inc (a)		10,274		5,442	Paychex Inc		15,021		1,063
Darden Restaurants Inc		3,355		352	Paycom Software Inc (a)		2,197		326
Dollar General Corp		127,221		14,685	PTC Inc (a)		61,626		5,225
Dollar Tree Inc (a)		70,860		6,861	RealPage Inc (a)		84,034		4,686
Domino's Pizza Inc		1,351		383	Red Hat Inc (a)		8,040		1,430
Dunkin' Brands Group Inc		3,533		242	ServiceNow Inc (a)		100,459		22,103
Gap Inc/The		1,039		26	SolarWinds Corp (a)		995		17
L Brands Inc		4,880		136	Splunk Inc (a)		68,068		8,498
Lululemon Athletica Inc (a)		44,085		6,516	SS&C Technologies Holdings Inc		10,278		529
Michaels Cos Inc/The (a)		1,499		21	Synopsys Inc (a)		143,378		13,384
MSC Industrial Direct Co Inc		1,066		89	Tableau Software Inc (a)		58,748		7,510
Nordstrom Inc		5,180		240	Take-Two Interactive Software Inc (a)		30,835		3,254
Nu Skin Enterprises Inc		707		46	Teradata Corp (a)		3,783		168
Ollie's Bargain Outlet Holdings Inc (a)		76,900		6,011	Tyler Technologies Inc (a)		66,735		12,626
O'Reilly Automotive Inc (a)		28,497		9,822	Ultimate Software Group Inc/The (a)		50,176		13,702
Qurate Retail Inc (a)		324,900		7,067	Veeva Systems Inc (a)		93,475		10,194
Ross Stores Inc		16,062		1,480	Workday Inc (a)		6,715		1,219
Tapestry Inc		4,654		180			$		143,969
Tiffany & Co		706		63	Telecommunications - 0.86%
Tractor Supply Co		5,928		506	Arista Networks Inc (a)		20,959		4,502
Ulta Beauty Inc (a)		1,843		538	LogMeIn Inc		1,558		145
Urban Outfitters Inc (a)		3,540		114	Motorola Solutions Inc		599		70
Wendy's Co/The		8,434		146	Ubiquiti Networks Inc		667		72
Williams-Sonoma Inc		1,037		56	Zayo Group Holdings Inc (a)		136,981		3,760
Yum China Holdings Inc		3,205		117			$		8,549
		$		92,172	Toys, Games & Hobbies - 0.59%
Semiconductors - 4.25%					Hasbro Inc		65,426		5,925
Advanced Micro Devices Inc (a)		268,803		6,562	Transportation - 0.97%
Analog Devices Inc		3,205		317	CH Robinson Worldwide Inc		53,081		4,606
Cypress Semiconductor Corp		11,980		166	Expeditors International of Washington Inc		8,328		577
IPG Photonics Corp (a)		26,484		3,523	Genesee & Wyoming Inc (a)		694		54
KLA-Tencor Corp		7,237		771	JB Hunt Transport Services Inc		2,852		305
Lam Research Corp		7,177		1,217	Landstar System Inc		1,857		189
Marvell Technology Group Ltd		4,818		89	Old Dominion Freight Line Inc		27,422		3,727
Maxim Integrated Products Inc		97,151		5,272	Schneider National Inc		836		18
Microchip Technology Inc		177,569		14,271	XPO Logistics Inc (a)		4,090		249
MKS Instruments Inc		2,549		208			$		9,725
Monolithic Power Systems Inc		64,181		8,123	TOTAL COMMON STOCKS		$		979,287
ON Semiconductor Corp (a)		23,047		462	INVESTMENT COMPANIES - 1.90%		Shares Held   Value (000's)
Skyworks Solutions Inc		6,534		477	Money Market Funds - 1.85%
Teradyne Inc		1,634		59	Principal Government Money Market Fund		18,427,068		18,427
Xilinx Inc		8,301		929	2.32%(b),(c)
		$		42,446	Principal Exchange-Traded Funds - 0.05%
Shipbuilding - 0.03%					Principal Healthcare Innovators Index ETF (b)		5,288		173
Huntington Ingalls Industries Inc		1,188		245	Principal Shareholder Yield Index ETF (b)		10,800		329
Software - 14.42%					Principal Sustainable Momentum Index ETF (b)		2,017		54
Akamai Technologies Inc (a)		8,026		522			$		556
ANSYS Inc (a)		2,717		447	TOTAL INVESTMENT COMPANIES		$		18,983
Aspen Technology Inc (a)		2,987		289	Total Investments		$		998,270
athenahealth Inc (a)		1,763		238	Other Assets and Liabilities -  0.00%				—
Atlassian Corp PLC (a)		5,342		526	TOTAL NET ASSETS - 100.00%		$		998,270
Autodesk Inc (a)		41,908		6,169
Black Knight Inc (a)		4,627		228
Broadridge Financial Solutions Inc		90,063		9,081	(a)	Non-income producing security
Cadence Design Systems Inc (a)		14,342		689	(b)	Affiliated Security. Security is either an affiliate (and registered under the
CDK Global Inc		4,220		206		Investment Company Act of 1940) or an affiliate as defined by the Investment
Ceridian HCM Holding Inc (a)		1,739		72		Company Act of 1940 (controls 5.0% or more of the outstanding voting
Cerner Corp (a)		7,380		405		shares of the security). Please see affiliated sub-schedule for transactional
Citrix Systems Inc		6,828		700		information.
DocuSign Inc (a)		3,206		159	(c)	Current yield shown is as of period end.
Dun & Bradstreet Corp/The		779		113

See accompanying notes.

151

Schedule of Investments
MidCap Growth Fund III
January 31, 2019 (unaudited)
Portfolio Summary  (unaudited)
Sector			Percent
Consumer, Non-cyclical			28.06	%
Technology			20.94	%
Consumer, Cyclical			18.35	%
Industrial			15.24	%
Communications			7.56	%
Financial			4.89	%
Energy			1.89	%
Investment Companies			1.85	%
Basic Materials			1.17	%
Domestic Equity Funds			0.05	%
Other Assets and Liabilities			0.00	%
TOTAL NET ASSETS			100.00	%
Affiliated Securities		October 31, 2018			Purchases			Sales			January 31, 2019
		Value			Cost			Proceeds			Value
Principal Government Money Market Fund 2.32%	$		28,751	$		139,689	$		150,013	$		18,427
Principal Healthcare Innovators Index ETF			—			181			17			173
Principal Shareholder Yield Index ETF			—			380			36			329
Principal Sustainable Momentum Index ETF			—			59			4			54
	$		28,751	$		140,309	$		150,070	$		18,983
			Realized Gain/Loss					Realized Gain from			Change in Unrealized
		Income	on Investments			Capital Gain Distributions					Gain/Loss
Principal Government Money Market Fund 2.32%	$	136	$		— $				— $			—
Principal Healthcare Innovators Index ETF		—			(2)				—			11
Principal Shareholder Yield Index ETF		2			(5)				—			(10	)
Principal Sustainable Momentum Index ETF		—			(1)				—			—
	$	138	$		(8) $				— $			1
Amounts in thousands
Futures Contracts
Description and Expiration Date		Type	Contracts		Notional Amount				Value and Unrealized Appreciation/(Depreciation)
S&P Mid 400 Emini; March 2019		Long	25	$		4,590			$			305
Total									$			305
Amounts in thousands except contracts.

See accompanying notes.

152

     Schedule of Investments MidCap S&P 400 Index Fund January 31, 2019 (unaudited)

COMMON STOCKS - 97.34%	Shares Held   Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Aerospace & Defense - 1.18%					Chemicals (continued)
Curtiss-Wright Corp		34,825	$	3,953	Minerals Technologies Inc		28,042	$	1,642
Esterline Technologies Corp (a)		21,126		2,571	NewMarket Corp		7,075		2,838
MSA Safety Inc		27,836		2,789	Olin Corp		132,677		3,132
Teledyne Technologies Inc (a)		28,691		6,433	PolyOne Corp		63,478		2,055
		$		15,746	RPM International Inc		105,546		6,033
Airlines - 0.33%					Sensient Technologies Corp		33,619		2,111
JetBlue Airways Corp (a)		242,384		4,361	Valvoline Inc		149,639		3,309
Apparel - 0.67%					Versum Materials Inc		86,711		3,188
Carter's Inc		36,463		3,022			$		35,182
Deckers Outdoor Corp (a)		23,160		2,975	Commercial Services - 4.60%
Skechers U.S.A. Inc (a)		106,470		2,893	Aaron's Inc		54,552		2,731
		$		8,890	Adtalem Global Education Inc (a)		46,718		2,284
Automobile Parts & Equipment - 0.48%					ASGN Inc (a)		41,733		2,629
Adient PLC		69,075		1,364	Avis Budget Group Inc (a)		51,669		1,376
Dana Inc		115,044		2,027	Brink's Co/The		40,253		2,981
Delphi Technologies PLC		70,374		1,260	CoreLogic Inc/United States (a)		64,067		2,326
Visteon Corp (a)		22,992		1,768	Deluxe Corp		36,826		1,730
		$		6,419	Graham Holdings Co		3,451		2,295
Banks - 7.15%					Green Dot Corp (a)		37,906		2,806
Associated Banc-Corp		131,841		2,854	Healthcare Services Group Inc		58,688		2,560
BancorpSouth Bank		72,133		2,105	HealthEquity Inc (a)		43,165		2,691
Bank of Hawaii Corp		33,205		2,568	Insperity Inc		30,258		3,228
Bank OZK		96,135		2,917	LiveRamp Holdings Inc (a)		54,105		2,350
Cathay General Bancorp		61,252		2,274	ManpowerGroup Inc		49,173		3,886
Chemical Financial Corp		56,816		2,526	MarketAxess Holdings Inc		29,896		6,421
Commerce Bancshares Inc/MO		78,945		4,721	Sabre Corp		218,945		5,031
Cullen/Frost Bankers Inc		50,853		4,947	Service Corp International/US		143,903		6,176
East West Bancorp Inc		115,280		5,801	Sotheby's (a)		27,677		1,118
First Horizon National Corp		257,620		3,782	Weight Watchers International Inc (a)		30,828		986
FNB Corp/PA		257,899		3,004	WEX Inc (a)		34,277		5,530
Fulton Financial Corp		140,042		2,248			$		61,135
Hancock Whitney Corp		67,729		2,782	Computers - 1.92%
Home BancShares Inc/AR		126,524		2,317	CACI International Inc (a)		19,761		3,304
International Bancshares Corp		43,666		1,549	Leidos Holdings Inc		119,099		6,908
MB Financial Inc		66,989		2,973	Lumentum Holdings Inc (a)		58,567		2,864
PacWest Bancorp		96,840		3,737	MAXIMUS Inc		51,002		3,577
Pinnacle Financial Partners Inc		58,224		3,131	NCR Corp (a)		93,999		2,514
Prosperity Bancshares Inc		52,763		3,753	NetScout Systems Inc (a)		55,616		1,442
Signature Bank/New York NY		42,454		5,405	Perspecta Inc		112,484		2,255
Synovus Financial Corp		131,697		4,665	Science Applications International Corp		40,462		2,717
TCF Financial Corp		132,653		2,940			$		25,581
Texas Capital Bancshares Inc (a)		39,907		2,325	Consumer Products - 0.18%
Trustmark Corp		53,354		1,682	Helen of Troy Ltd (a)		20,996		2,436
UMB Financial Corp		35,699		2,297	Cosmetics & Personal Care - 0.13%
Umpqua Holdings Corp		175,148		3,097	Edgewell Personal Care Co (a)		42,976		1,695
United Bankshares Inc/WV		82,059		2,902	Distribution & Wholesale - 0.64%
Valley National Bancorp		263,622		2,665	Pool Corp		32,020		4,800
Webster Financial Corp		73,352		3,952	Watsco Inc		25,542		3,767
Wintrust Financial Corp		44,845		3,190			$		8,567
		$		95,109	Diversified Financial Services - 2.38%
Beverages - 0.13%					Eaton Vance Corp		92,671		3,570
Boston Beer Co Inc/The (a)		6,842		1,705	Evercore Inc - Class A		32,186		2,879
Biotechnology - 1.17%					Federated Investors Inc		75,916		1,984
Bio-Rad Laboratories Inc (a)		16,013		4,001	Interactive Brokers Group Inc - A Shares		59,710		3,009
Exelixis Inc (a)		237,769		5,604	Janus Henderson Group PLC		132,691		2,897
Ligand Pharmaceuticals Inc (a)		16,903		1,996	Legg Mason Inc		68,017		2,027
United Therapeutics Corp (a)		34,662		3,998	LendingTree Inc (a)		5,916		1,753
		$		15,599	Navient Corp		182,585		2,081
Building Materials - 1.20%					SEI Investments Co		103,904		4,940
Eagle Materials Inc		37,290		2,648	SLM Corp		346,464		3,711
Lennox International Inc		28,831		6,610	Stifel Financial Corp		57,268		2,741
Louisiana-Pacific Corp		112,273		2,737			$		31,592
MDU Resources Group Inc		155,885		4,008	Electric - 1.88%
		$		16,003	ALLETE Inc		40,896		3,147
Chemicals - 2.65%					Black Hills Corp		42,926		2,914
Ashland Global Holdings Inc		49,694		3,772	Hawaiian Electric Industries Inc		86,587		3,220
Cabot Corp		47,739		2,238	IDACORP Inc		40,076		3,907
Chemours Co/The		136,058		4,864	NorthWestern Corp		40,018		2,558

See accompanying notes.

153

Schedule of Investments
MidCap S&P 400 Index Fund
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held      Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Electric (continued)					Gas - 2.69%
OGE Energy Corp		158,838	$	6,504	Atmos Energy Corp		92,933	$	9,073
PNM Resources Inc		63,345		2,698	National Fuel Gas Co		68,364		3,917
		$		24,948	New Jersey Resources Corp		70,384		3,414
Electrical Components & Equipment - 1.70%					ONE Gas Inc		41,772		3,432
Acuity Brands Inc		31,881		3,855	Southwest Gas Holdings Inc		42,147		3,301
Belden Inc		32,054		1,718	UGI Corp		138,253		7,884
Energizer Holdings Inc		50,661		2,401	Vectren Corp		66,071		4,782
EnerSys		33,518		2,858			$		35,803
Hubbell Inc		43,506		4,757	Hand & Machine Tools - 0.72%
Littelfuse Inc		20,006		3,516	Kennametal Inc		65,293		2,454
Universal Display Corp		33,712		3,500	Lincoln Electric Holdings Inc		51,252		4,430
		$		22,605	Regal Beloit Corp		34,310		2,634
Electronics - 3.58%							$		9,518
Arrow Electronics Inc (a)		69,324		5,265	Healthcare - Products - 4.17%
Avnet Inc		88,454		3,644	Avanos Medical Inc (a)		37,717		1,718
Coherent Inc (a)		19,387		2,291	Bio-Techne Corp		30,033		5,240
Gentex Corp		208,451		4,415	Cantel Medical Corp		28,865		2,350
Jabil Inc		114,334		3,047	Globus Medical Inc (a)		60,455		2,724
National Instruments Corp		89,520		3,959	Haemonetics Corp (a)		41,102		4,065
nVent Electric PLC		129,848		3,249	Hill-Rom Holdings Inc		53,508		5,352
Resideo Technologies Inc (a)		97,791		2,145	ICU Medical Inc (a)		13,197		3,283
SYNNEX Corp		32,956		3,189	Inogen Inc (a)		14,034		2,122
Tech Data Corp (a)		29,679		2,838	Integra LifeSciences Holdings Corp (a)		56,224		2,663
Trimble Inc (a)		199,727		7,522	LivaNova PLC (a)		38,717		3,574
Vishay Intertechnology Inc		105,069		2,049	Masimo Corp (a)		38,773		4,823
Woodward Inc		44,219		4,017	NuVasive Inc (a)		40,893		2,050
		$		47,630	Patterson Cos Inc		65,695		1,464
Energy - Alternate Sources - 0.23%					STERIS PLC		67,198		7,665
First Solar Inc (a)		60,016		3,036	West Pharmaceutical Services Inc		58,913		6,379
Engineering & Construction - 1.05%							$		55,472
AECOM (a)		124,341		3,806	Healthcare - Services - 2.49%
Dycom Industries Inc (a)		24,889		1,445	Acadia Healthcare Co Inc (a)		70,185		1,920
EMCOR Group Inc		45,776		2,986	Catalent Inc (a)		115,608		4,269
Granite Construction Inc		37,295		1,612	Charles River Laboratories International Inc (a)		38,248		4,712
KBR Inc		112,034		1,927	Chemed Corp		12,735		3,794
MasTec Inc (a)		50,682		2,249	Encompass Health Corp		78,673		5,259
		$		14,025	MEDNAX Inc (a)		71,113		2,568
Entertainment - 1.87%					Molina Healthcare Inc (a)		49,616		6,598
Churchill Downs Inc		28,851		2,654	Syneos Health Inc (a)		48,434		2,472
Cinemark Holdings Inc		84,542		3,459	Tenet Healthcare Corp (a)		66,025		1,452
Eldorado Resorts Inc (a)		51,698		2,410			$		33,044
International Speedway Corp		19,438		845	Home Builders - 1.26%
Live Nation Entertainment Inc (a)		109,983		5,885	KB Home		68,547		1,467
Marriott Vacations Worldwide Corp		32,543		2,881	NVR Inc (a)		2,703		7,190
Penn National Gaming Inc (a)		86,015		2,085	Thor Industries Inc		39,895		2,598
Scientific Games Corp (a)		43,758		1,097	Toll Brothers Inc		107,817		3,983
Six Flags Entertainment Corp		57,064		3,515	TRI Pointe Group Inc (a)		113,088		1,521
		$		24,831			$		16,759
Environmental Control - 0.40%					Home Furnishings - 0.15%
Clean Harbors Inc (a)		40,529		2,400	Tempur Sealy International Inc (a)		36,406		1,930
Stericycle Inc (a)		67,724		2,985	Housewares - 0.63%
		$		5,385	Scotts Miracle-Gro Co/The		31,238		2,323
Food - 1.85%					Toro Co/The		83,656		4,977
Flowers Foods Inc		145,913		2,869	Tupperware Brands Corp		38,635		1,054
Hain Celestial Group Inc/The (a)		71,170		1,304			$		8,354
Ingredion Inc		56,229		5,567	Insurance - 4.75%
Lancaster Colony Corp		15,520		2,469	Alleghany Corp		11,801		7,453
Post Holdings Inc (a)		53,027		4,922	American Financial Group Inc/OH		56,074		5,349
Sanderson Farms Inc		15,983		1,967	Aspen Insurance Holdings Ltd		47,476		1,981
Sprouts Farmers Market Inc (a)		101,478		2,433	Brown & Brown Inc		186,525		5,066
Tootsie Roll Industries Inc		14,741		511	CNO Financial Group Inc		130,938		2,341
TreeHouse Foods Inc (a)		44,532		2,599	First American Financial Corp		88,900		4,452
		$		24,641	Genworth Financial Inc (a)		398,232		1,927
Forest Products & Paper - 0.18%					Hanover Insurance Group Inc/The		33,666		3,839
Domtar Corp		50,023		2,346	Kemper Corp		48,401		3,639
					Mercury General Corp		21,564		1,115
					Old Republic International Corp		226,239		4,559
					Primerica Inc		34,147		3,837

See accompanying notes.

154

     Schedule of Investments MidCap S&P 400 Index Fund January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Insurance (continued)					Office Furnishings - 0.22%
Reinsurance Group of America Inc		49,924	$	7,212	Herman Miller Inc		47,186	$	1,615
RenaissanceRe Holdings Ltd		32,021		4,420	HNI Corp		34,847		1,355
WR Berkley Corp		76,725		5,899			$		2,970
		$		63,089	Oil & Gas - 3.09%
Internet - 0.27%					Callon Petroleum Co (a)		180,986		1,473
Cars.com Inc (a)		50,168		1,370	Chesapeake Energy Corp (a)		829,962		2,365
Yelp Inc (a)		60,789		2,214	CNX Resources Corp (a)		161,915		1,966
		$		3,584	Diamond Offshore Drilling Inc (a)		51,369		561
Iron & Steel - 1.55%					Ensco PLC		347,608		1,529
Allegheny Technologies Inc (a)		99,951		2,738	EQT Corp		202,335		3,939
Carpenter Technology Corp		37,670		1,780	Matador Resources Co (a)		82,338		1,606
Commercial Metals Co		93,547		1,632	Murphy Oil Corp		129,367		3,538
Reliance Steel & Aluminum Co		56,012		4,586	Murphy USA Inc (a)		23,845		1,754
Steel Dynamics Inc		182,554		6,680	Oasis Petroleum Inc (a)		212,719		1,281
United States Steel Corp		140,974		3,178	Patterson-UTI Energy Inc		172,901		2,097
		$		20,594	PBF Energy Inc		95,344		3,492
Leisure Products & Services - 0.55%					QEP Resources Inc (a)		188,295		1,557
Brunswick Corp/DE		68,981		3,471	Range Resources Corp		164,689		1,817
Polaris Industries Inc		46,185		3,874	Rowan Cos PLC (a)		101,052		1,232
		$		7,345	SM Energy Co		82,048		1,610
Lodging - 0.67%					Southwestern Energy Co (a)		462,268		2,020
Boyd Gaming Corp		64,247		1,755	Transocean Ltd (a)		402,357		3,448
Wyndham Destinations Inc		77,501		3,266	WPX Energy Inc (a)		314,187		3,852
Wyndham Hotels & Resorts Inc		78,878		3,872			$		41,137
		$		8,893	Oil & Gas Services - 0.69%
Machinery - Construction & Mining - 0.44%					Apergy Corp (a)		61,506		2,068
Oshkosh Corp		57,175		4,291	Core Laboratories NV		35,160		2,372
Terex Corp		51,577		1,584	Dril-Quip Inc (a)		28,452		1,065
		$		5,875	McDermott International Inc (a)		143,610		1,267
					NOW Inc (a)		86,222		1,167
Machinery - Diversified - 2.55%					Oceaneering International Inc (a)		78,359		1,229
AGCO Corp		52,296		3,357			$		9,168
Cognex Corp		136,937		6,231
Graco Inc		132,361		5,735	Packaging & Containers - 0.99%
IDEX Corp		61,003		8,410	Bemis Co Inc		72,382		3,535
Nordson Corp		41,619		5,396	Greif Inc - Class A		20,630		805
Wabtec Corp		68,381		4,729	Owens-Illinois Inc		126,207		2,533
		$		33,858	Silgan Holdings Inc		61,579		1,701
					Sonoco Products Co		79,374		4,570
Media - 1.78%							$		13,144
AMC Networks Inc (a)		35,823		2,255
Cable One Inc		3,945		3,489	Pharmaceuticals - 0.57%
FactSet Research Systems Inc		30,250		6,613	Mallinckrodt PLC (a)		66,255		1,448
John Wiley & Sons Inc		35,974		1,863	PRA Health Sciences Inc (a)		46,505		4,928
Meredith Corp		31,714		1,721	Prestige Consumer Healthcare Inc (a)		41,144		1,149
New York Times Co/The		112,263		2,886			$		7,525
TEGNA Inc		171,221		2,010	Pipelines - 0.25%
World Wrestling Entertainment Inc		34,526		2,843	Equitrans Midstream Corp		161,768		3,368
		$		23,680	Real Estate - 0.52%
Metal Fabrication & Hardware - 0.44%					Jones Lang LaSalle Inc		36,237		5,197
Timken Co/The		55,012		2,343	Realogy Holdings Corp		93,965		1,668
Valmont Industries Inc		17,566		2,266			$		6,865
Worthington Industries Inc		31,995		1,207	REITs - 9.13%
		$		5,816	Alexander & Baldwin Inc (a)		53,843		1,241
Mining - 0.45%					American Campus Communities Inc		108,974		5,015
Compass Minerals International Inc		26,921		1,406	Camden Property Trust		74,066		7,181
Royal Gold Inc		52,096		4,552	CoreCivic Inc		94,382		1,875
		$		5,958	CoreSite Realty Corp		29,186		2,883
Miscellaneous Manufacturers - 1.85%					Corporate Office Properties Trust		86,568		2,137
AptarGroup Inc		49,953		4,951	Cousins Properties Inc		334,315		2,959
Carlisle Cos Inc		47,354		5,101	CyrusOne Inc		84,165		4,562
Crane Co		40,186		3,326	Douglas Emmett Inc		128,388		4,857
Donaldson Co Inc		101,707		4,809	EPR Properties		59,118		4,319
ITT Inc		69,664		3,662	First Industrial Realty Trust Inc		100,447		3,287
Trinity Industries Inc		116,346		2,720	GEO Group Inc/The		96,859		2,184
		$		24,569	Healthcare Realty Trust Inc		99,595		3,216
					Highwoods Properties Inc		82,300		3,647
Office & Business Equipment - 0.64%					Hospitality Properties Trust		130,774		3,486
Pitney Bowes Inc		149,207		1,076	JBG SMITH Properties		86,544		3,345
Zebra Technologies Corp (a)		42,789		7,428	Kilroy Realty Corp		80,119		5,645
		$		8,504

See accompanying notes.

155

     Schedule of Investments MidCap S&P 400 Index Fund January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)		Shares Held   Value (000’s)
REITs (continued)					Software (continued)
Lamar Advertising Co		67,664	$	5,038	Fair Isaac Corp (a)		23,027	$	5,186
Liberty Property Trust		117,555		5,541	j2 Global Inc		37,236		2,799
Life Storage Inc		37,059		3,642	Manhattan Associates Inc (a)		51,993		2,536
Mack-Cali Realty Corp		71,827		1,480	Medidata Solutions Inc (a)		48,662		3,453
Medical Properties Trust Inc		290,222		5,282	PTC Inc (a)		84,939		7,202
National Retail Properties Inc		126,558		6,671	Teradata Corp (a)		94,000		4,172
Omega Healthcare Investors Inc		159,606		6,415	Tyler Technologies Inc (a)		30,874		5,841
Pebblebrook Hotel Trust		101,807		3,263	Ultimate Software Group Inc/The (a)		24,866		6,790
PotlatchDeltic Corp		53,738		1,982			$		56,434
Rayonier Inc		102,960		3,134	Telecommunications - 1.55%
Sabra Health Care REIT Inc		141,783		2,912	ARRIS International PLC (a)		129,967		4,080
Senior Housing Properties Trust		189,057		2,603	Ciena Corp (a)		113,405		4,320
Tanger Factory Outlet Centers Inc		74,679		1,699	InterDigital Inc		26,914		1,960
Taubman Centers Inc		48,562		2,418	LogMeIn Inc		40,688		3,785
Uniti Group Inc		142,336		2,834	Plantronics Inc		26,272		1,019
Urban Edge Properties		90,902		1,856	Telephone & Data Systems Inc		73,924		2,677
Weingarten Realty Investors		94,908		2,723	ViaSat Inc (a)		44,591		2,795
		$		121,332			$		20,636
Retail - 5.05%					Transportation - 1.81%
American Eagle Outfitters Inc		133,999		2,830	Genesee & Wyoming Inc (a)		46,437		3,646
AutoNation Inc (a)		45,768		1,773	Kirby Corp (a)		42,848		3,210
Bed Bath & Beyond Inc		109,788		1,657	Knight-Swift Transportation Holdings Inc		99,940		3,173
Big Lots Inc		32,081		1,012	Landstar System Inc		32,695		3,321
Brinker International Inc		30,697		1,244	Old Dominion Freight Line Inc		52,010		7,070
Casey's General Stores Inc		29,111		3,746	Ryder System Inc		42,219		2,445
Cheesecake Factory Inc/The		33,169		1,489	Werner Enterprises Inc		35,104		1,156
Cracker Barrel Old Country Store Inc		19,113		3,197			$		24,021
Dick's Sporting Goods Inc		58,660		2,071	Trucking & Leasing - 0.17%
Dillard's Inc		14,695		981	GATX Corp		29,902		2,263
Domino's Pizza Inc		33,080		9,386	Water - 0.37%
Dunkin' Brands Group Inc		65,687		4,492	Aqua America Inc		141,509		4,960
Five Below Inc (a)		44,344		5,487	TOTAL COMMON STOCKS		$		1,294,025
Jack in the Box Inc		20,474		1,657	INVESTMENT COMPANIES - 2.13%		Shares Held   Value (000's)
Michaels Cos Inc/The (a)		71,484		991
MSC Industrial Direct Co Inc		36,110		3,015	Exchange-Traded Funds - 0.49%
Nu Skin Enterprises Inc		44,176		2,900	iShares Core S&P Mid-Cap ETF		35,500		6,501
Ollie's Bargain Outlet Holdings Inc (a)		41,005		3,205	Money Market Funds - 1.64%
Papa John's International Inc		17,809		753	Principal Government Money Market Fund		21,815,624		21,816
Sally Beauty Holdings Inc (a)		95,546		1,645	2.32%(b),(c)
Signet Jewelers Ltd		41,282		1,006	TOTAL INVESTMENT COMPANIES		$		28,317
Texas Roadhouse Inc		52,918		3,220	Total Investments		$		1,322,342
Urban Outfitters Inc (a)		59,923		1,936	Other Assets and Liabilities -  0.53%				7,036
Wendy's Co/The		148,750		2,576	TOTAL NET ASSETS - 100.00%		$		1,329,378
Williams-Sonoma Inc		63,745		3,470
World Fuel Services Corp		53,467		1,331	(a)	Non-income producing security
		$		67,070	(b)	Affiliated Security. Security is either an affiliate (and registered under the
Savings & Loans - 0.74%						Investment Company Act of 1940) or an affiliate as defined by the Investment
New York Community Bancorp Inc		389,948		4,531		Company Act of 1940 (controls 5.0% or more of the outstanding voting
Sterling Bancorp/DE		178,479		3,434		shares of the security). Please see affiliated sub-schedule for transactional
Washington Federal Inc		64,811		1,886		information.
		$		9,851	(c)	Current yield shown is as of period end.
Semiconductors - 2.34%
Cirrus Logic Inc (a)		47,592		1,768
Cree Inc (a)		81,561		4,113		Portfolio Summary  (unaudited)
Cypress Semiconductor Corp		287,844		3,992	Sector				Percent
Integrated Device Technology Inc (a)		102,616		5,013	Financial				24.67	%
MKS Instruments Inc		42,933		3,505	Industrial				18.08	%
Monolithic Power Systems Inc		31,030		3,927	Consumer, Non-cyclical				15.29	%
Silicon Laboratories Inc (a)		34,314		2,625	Consumer, Cyclical				12.52	%
Synaptics Inc (a)		27,532		1,096	Technology				9.15	%
Teradyne Inc		142,551		5,130	Utilities				4.94	%
		$		31,169	Basic Materials				4.83	%
					Energy				4.26	%
Software - 4.25%					Communications				3.60	%
ACI Worldwide Inc (a)		92,234		2,726	Investment Companies				2.13	%
Allscripts Healthcare Solutions Inc (a)		138,943		1,638	Other Assets and Liabilities				0.53	%
Blackbaud Inc		38,624		2,765	TOTAL NET ASSETS				100.00	%
CDK Global Inc		102,408		5,009
CommVault Systems Inc (a)		30,921		2,043
Dun & Bradstreet Corp/The		29,528		4,274

See accompanying notes.

156

Schedule of Investments
MidCap S&P 400 Index Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases				Sales		January 31, 2019
		Value					Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	25,458	$				109,631	$	113,273	$		21,816
	$	25,458	$				109,631	$	113,273	$		21,816
				Realized Gain/Loss			Realized Gain from				Change in Unrealized
		Income		on Investments			Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	155	$		— $				— $			—
	$	155	$		— $				— $			—
Amounts in thousands
Futures Contracts
Description and Expiration Date		Type		Contracts		Notional Amount			Value and Unrealized Appreciation/(Depreciation)
S&P Mid 400 Emini; March 2019		Long			120	$	22,033 $					1,315
Total							$					1,315
Amounts in thousands except contracts.

See accompanying notes.

157

Schedule of Investments
MidCap Value Fund I
January 31, 2019 (unaudited)
COMMON STOCKS - 98.43%	Shares Held    Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Advertising - 0.73%					Banks (continued)
Interpublic Group of Cos Inc/The		283,895	$	6,459	Regions Financial Corp		33,950	$	515
Omnicom Group Inc		2,366		184	Signature Bank/New York NY		421		54
		$		6,643	SunTrust Banks Inc		261,468		15,536
Aerospace & Defense - 0.49%					SVB Financial Group (a)		255		60
Arconic Inc		9,308		175	Synovus Financial Corp		68,657		2,432
Curtiss-Wright Corp		29,989		3,404	TCF Financial Corp		4,968		110
Harris Corp		100		15	Texas Capital Bancshares Inc (a)		680		40
L3 Technologies Inc		2,080		410	Umpqua Holdings Corp		86,858		1,536
Teledyne Technologies Inc (a)		1,943		436	Webster Financial Corp		16,144		870
		$		4,440	Western Alliance Bancorp (a)		32,651		1,445
Agriculture - 1.46%					Wintrust Financial Corp		1,639		117
Archer-Daniels-Midland Co		291,427		13,085	Zions Bancorp NA		6,484		309
Bunge Ltd		2,929		161			$		46,601
		$		13,246	Beverages - 0.03%
Airlines - 0.21%					Molson Coors Brewing Co		3,610		240
Alaska Air Group Inc		2,500		160	Biotechnology - 0.19%
American Airlines Group Inc		21,351		764	Alnylam Pharmaceuticals Inc (a)		3,825		319
Copa Holdings SA		901		85	Bio-Rad Laboratories Inc (a)		2,325		581
JetBlue Airways Corp (a)		14,233		256	Bluebird Bio Inc (a)		1,640		219
United Continental Holdings Inc (a)		7,200		628	United Therapeutics Corp (a)		5,573		643
		$		1,893			$		1,762
Apparel - 1.48%					Building Materials - 0.98%
Capri Holdings Ltd (a)		1,836		78	Eagle Materials Inc		230		16
Carter's Inc		122,450		10,151	Fortune Brands Home & Security Inc		2,916		132
Columbia Sportswear Co		6,892		615	Lennox International Inc		495		113
PVH Corp		2,611		285	Martin Marietta Materials Inc		120		21
Ralph Lauren Corp		3,262		379	Masco Corp		2,036		66
Skechers U.S.A. Inc (a)		25,364		689	MDU Resources Group Inc		64,358		1,655
Under Armour Inc - Class A (a)		4,689		97	Owens Corning		129,200		6,769
Under Armour Inc - Class C (a)		1,441		27	USG Corp		2,242		97
VF Corp		13,689		1,152	Vulcan Materials Co		207		21
		$		13,473			$		8,890
Automobile Manufacturers - 0.05%					Chemicals - 1.93%
PACCAR Inc		7,144		468	Albemarle Corp		2,246		181
Automobile Parts & Equipment - 1.14%					Ashland Global Holdings Inc		1,704		129
Adient PLC		2,652		53	Axalta Coating Systems Ltd (a)		23,231		595
Aptiv PLC		720		57	Cabot Corp		25,018		1,173
BorgWarner Inc		238,821		9,767	Celanese Corp		1,985		190
Goodyear Tire & Rubber Co/The		6,508		138	CF Industries Holdings Inc		18,666		815
Lear Corp		1,961		302	Eastman Chemical Co		158,281		12,760
Visteon Corp (a)		376		29	FMC Corp		1,654		132
		$		10,346	Huntsman Corp		6,324		139
Banks - 5.13%					Ingevity Corp (a)		2,305		217
Associated Banc-Corp		5,022		109	International Flavors & Fragrances Inc		1,085		154
Bank of Hawaii Corp		14,073		1,088	Mosaic Co/The		7,302		236
Bank OZK		3,785		115	NewMarket Corp		23		9
BankUnited Inc		28,654		969	Olin Corp		12,051		285
BOK Financial Corp		789		66	RPM International Inc		2,177		124
CIT Group Inc		3,292		152	Univar Inc (a)		2,759		58
Citizens Financial Group Inc		21,363		724	Valvoline Inc		5,413		120
Comerica Inc		5,226		411	Westlake Chemical Corp		292		21
Commerce Bancshares Inc/MO		26,586		1,590	WR Grace & Co		2,330		166
Cullen/Frost Bankers Inc		1,613		157			$		17,504
East West Bancorp Inc		14,016		706	Coal - 0.02%
Fifth Third Bancorp		56,884		1,525	CONSOL Energy Inc (a)		5,073		180
First Citizens BancShares Inc/NC		241		98	Commercial Services - 1.88%
First Hawaiian Inc		27,914		718	AMERCO		223		81
First Horizon National Corp		32,069		471	Aramark		5,080		167
First Republic Bank/CA		3,340		323	Booz Allen Hamilton Holding Corp		8,171		401
FNB Corp/PA		65,725		766	Bright Horizons Family Solutions Inc (a)		203		24
Huntington Bancshares Inc/OH		37,548		497	CoreLogic Inc/United States (a)		927		34
KeyCorp		32,514		535	Equifax Inc		8,805		942
M&T Bank Corp		11,247		1,850	Euronet Worldwide Inc (a)		8,623		991
Northern Trust Corp		3,154		279	Graham Holdings Co		118		78
PacWest Bancorp		7,791		301	H&R Block Inc		30,418		718
Pinnacle Financial Partners Inc		1,254		67	IHS Markit Ltd (a)		11,400		592
Popular Inc		3,578		195	Macquarie Infrastructure Corp		2,242		97
Prosperity Bancshares Inc		138,675		9,865	ManpowerGroup Inc		7,387		584

See accompanying notes.

158

Schedule of Investments
MidCap Value Fund I
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Commercial Services (continued)					Electric (continued)
Nielsen Holdings PLC		7,416	$	190	CMS Energy Corp		8,772	$	457
Quanta Services Inc		308,924		10,918	Consolidated Edison Inc		19,931		1,547
Sabre Corp		3,382		78	Dominion Energy Inc		2,329		163
Service Corp International/US		1,917		82	DTE Energy Co		90,806		10,692
Worldpay Inc (a)		13,276		1,108	Edison International		32,791		1,868
		$		17,085	Entergy Corp		9,686		864
Computers - 3.94%					Evergy Inc		8,585		492
Amdocs Ltd		3,703		207	Eversource Energy		8,411		584
Conduent Inc (a)		5,480		70	FirstEnergy Corp		21,811		856
Dell Technologies Inc (a)		10,513		511	Hawaiian Electric Industries Inc		2,885		107
DXC Technology Co		133,334		8,549	NRG Energy Inc		18,701		766
Genpact Ltd		2,701		81	OGE Energy Corp		7,504		307
Hewlett Packard Enterprise Co		448,290		6,989	PG&E Corp (a)		1,360		18
Leidos Holdings Inc		150,067		8,703	Pinnacle West Capital Corp		3,774		333
MAXIMUS Inc		136,075		9,543	PPL Corp		47,504		1,488
NCR Corp (a)		936		25	Public Service Enterprise Group Inc		35,002		1,909
NetApp Inc		1,970		126	Sempra Energy		7,286		852
Western Digital Corp		22,353		1,006	Vistra Energy Corp (a)		26,952		677
		$		35,810	WEC Energy Group Inc		23,999		1,753
Consumer Products - 0.90%					Xcel Energy Inc		187,726		9,829
Avery Dennison Corp		2,670		279			$		46,336
Church & Dwight Co Inc		772		50	Electrical Components & Equipment - 0.85%
Clorox Co/The		351		52	Acuity Brands Inc		1,967		238
Kimberly-Clark Corp		69,325		7,721	AMETEK Inc		20,313		1,480
Spectrum Brands Holdings Inc		591		33	Energizer Holdings Inc		1,137		54
		$		8,135	Hubbell Inc		53,455		5,845
Cosmetics & Personal Care - 0.01%					Littelfuse Inc		341		60
Coty Inc		12,892		100			$		7,677
Distribution & Wholesale - 0.18%					Electronics - 3.18%
HD Supply Holdings Inc (a)		13,226		555	ADT Inc		4,019		29
KAR Auction Services Inc		2,489		129	Agilent Technologies Inc		19,489		1,482
LKQ Corp (a)		8,152		214	Allegion PLC		1,132		97
Watsco Inc		307		45	Arrow Electronics Inc (a)		2,978		226
WESCO International Inc (a)		1,453		76	Avnet Inc		13,372		551
WW Grainger Inc		2,150		635	Coherent Inc (a)		47,991		5,673
		$		1,654	Corning Inc		22,991		764
Diversified Financial Services - 2.09%					Flex Ltd (a)		794,975		7,648
Affiliated Managers Group Inc		6,680		701	FLIR Systems Inc		9,511		465
Air Lease Corp		2,598		99	Fortive Corp		14,980		1,124
Ally Financial Inc		71,948		1,875	Garmin Ltd		2,370		164
Ameriprise Financial Inc		5,913		748	Gentex Corp		2,502		53
BGC Partners Inc		30,459		188	Jabil Inc		43,736		1,165
Cboe Global Markets Inc		3,731		348	Keysight Technologies Inc (a)		107,706		7,972
Credit Acceptance Corp (a)		56		22	National Instruments Corp		8,033		355
Discover Financial Services		6,918		467	nVent Electric PLC		19,911		499
E*TRADE Financial Corp		201,638		9,408	PerkinElmer Inc		2,289		207
Franklin Resources Inc		11,745		348	Sensata Technologies Holding PLC (a)		1,585		75
Interactive Brokers Group Inc - A Shares		292		15	Trimble Inc (a)		7,935		299
Invesco Ltd		10,589		193	Waters Corp (a)		128		30
Jefferies Financial Group Inc		73,207		1,524			$		28,878
Lazard Ltd		598		24	Engineering & Construction - 0.06%
Legg Mason Inc		10,175		304	AECOM (a)		7,904		242
Nasdaq Inc		2,404		212	Fluor Corp		3,781		138
Navient Corp		14,987		170	Jacobs Engineering Group Inc		2,651		172
OneMain Holdings Inc		2,769		83			$		552
Raymond James Financial Inc		1,926		155	Entertainment - 1.17%
Santander Consumer USA Holdings Inc		3,326		63	Cinemark Holdings Inc		253,238		10,363
SLM Corp		12,745		137	International Game Technology PLC		2,637		43
Synchrony Financial		36,578		1,099	Lions Gate Entertainment Corp - A shares		1,344		25
T Rowe Price Group Inc		7,494		700	Lions Gate Entertainment Corp - B shares		2,618		46
Western Union Co/The		6,738		123	Madison Square Garden Co/The (a)		444		123
		$		19,006			$		10,600
Electric - 5.10%					Environmental Control - 1.08%
AES Corp/VA		23,317		382	Clean Harbors Inc (a)		1,572		93
Alliant Energy Corp		196,050		8,719	Pentair PLC		6,728		278
Ameren Corp		7,597		527	Republic Services Inc		121,853		9,347
Avangrid Inc		1,495		75	Stericycle Inc (a)		1,300		57
CenterPoint Energy Inc		34,661		1,071			$		9,775

See accompanying notes.

159

Schedule of Investments MidCap Value Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Food - 4.34%					Home Builders - 0.09%
Campbell Soup Co		1,129	$	40	DR Horton Inc		2,960	$	114
Conagra Brands Inc		36,125		782	Lennar Corp - A Shares		4,593		218
Flowers Foods Inc		4,780		94	Lennar Corp - B Shares		307		12
Hain Celestial Group Inc/The (a)		7,248		133	PulteGroup Inc		9,165		255
Hershey Co/The		265		28	Thor Industries Inc		2,318		150
Hormel Foods Corp		180,551		7,641	Toll Brothers Inc		2,091		77
Ingredion Inc		92,348		9,143			$		826
JM Smucker Co/The		4,012		421	Home Furnishings - 0.05%
Kellogg Co		4,749		280	Dolby Laboratories Inc		1,784		116
Kroger Co/The		353,855		10,025	Leggett & Platt Inc		3,568		146
Lamb Weston Holdings Inc		19,376		1,401	Whirlpool Corp		1,317		175
McCormick & Co Inc/MD		2,382		294			$		437
Pilgrim's Pride Corp (a)		1,539		31	Housewares - 0.06%
Post Holdings Inc (a)		575		53	Newell Brands Inc		20,231		429
Seaboard Corp		4		15	Scotts Miracle-Gro Co/The		1,467		109
Sysco Corp		122,814		7,842			$		538
TreeHouse Foods Inc (a)		1,451		85	Insurance - 11.89%
Tyson Foods Inc		14,106		873	Aflac Inc		209,409		9,989
US Foods Holding Corp (a)		6,135		207	Alleghany Corp		22,154		13,992
		$		39,388	Allstate Corp/The		107,475		9,444
Forest Products & Paper - 0.10%					American Financial Group Inc/OH		89,488		8,536
Domtar Corp		7,507		352	American National Insurance Co		6,471		901
International Paper Co		11,434		542	Arch Capital Group Ltd (a)		6,771		199
		$		894	Arthur J Gallagher & Co		119,186		8,904
Gas - 0.34%					Assurant Inc		1,517		146
Atmos Energy Corp		2,366		231	Assured Guaranty Ltd		23,031		934
National Fuel Gas Co		38,417		2,201	Athene Holding Ltd (a)		5,936		255
NiSource Inc		7,539		206	AXA Equitable Holdings Inc		5,908		110
UGI Corp		6,106		348	Axis Capital Holdings Ltd		13,046		698
Vectren Corp		1,731		125	Brighthouse Financial Inc (a)		3,536		132
		$		3,111	Brown & Brown Inc		5,730		156
Hand & Machine Tools - 0.16%					Cincinnati Financial Corp		13,593		1,103
Colfax Corp (a)		2,453		61	CNA Financial Corp		996		46
Kennametal Inc		13,539		509	Erie Indemnity Co		235		34
Lincoln Electric Holdings Inc		300		26	Everest Re Group Ltd		506		111
Regal Beloit Corp		1,530		117	Fidelity National Financial Inc		294,376		10,645
Snap-on Inc		1,888		313	First American Financial Corp		9,396		471
Stanley Black & Decker Inc		3,215		407	Genworth Financial Inc (a)		72,290		350
		$		1,433	Hanover Insurance Group Inc/The		26,208		2,989
Healthcare - Products - 1.82%					Hartford Financial Services Group Inc/The		23,394		1,097
Bruker Corp		23,915		838	Lincoln National Corp		7,052		412
Cooper Cos Inc/The		6,488		1,808	Loews Corp		6,260		299
DENTSPLY SIRONA Inc		18,568		779	Markel Corp (a)		9,939		10,471
Henry Schein Inc (a)		4,935		384	Mercury General Corp		14,020		725
Hill-Rom Holdings Inc		6,962		696	Old Republic International Corp		10,554		213
Hologic Inc (a)		51,673		2,294	ProAssurance Corp		16,131		688
Integra LifeSciences Holdings Corp (a)		504		24	Reinsurance Group of America Inc		2,191		316
QIAGEN NV (a)		12,110		449	Torchmark Corp		12,739		1,067
STERIS PLC		59,971		6,840	Travelers Cos Inc/The		86,450		10,853
Teleflex Inc		5,680		1,554	Unum Group		7,803		271
West Pharmaceutical Services Inc		1,169		127	Voya Financial Inc		3,102		144
Zimmer Biomet Holdings Inc		6,625		726	Willis Towers Watson PLC		3,200		521
		$		16,519	WR Berkley Corp		139,155		10,699
Healthcare - Services - 1.60%							$		107,921
Acadia Healthcare Co Inc (a)		2,305		63	Internet - 0.14%
Catalent Inc (a)		2,948		109	FireEye Inc (a)		2,084		37
Centene Corp (a)		2,969		388	Symantec Corp		50,810		1,068
Charles River Laboratories International Inc (a)		530		65	TripAdvisor Inc (a)		740		43
DaVita Inc (a)		5,224		294	Zillow Group Inc - C Shares (a)		3,540		124
IQVIA Holdings Inc (a)		8,993		1,160			$		1,272
Laboratory Corp of America Holdings (a)		2,942		410	Iron & Steel - 1.98%
MEDNAX Inc (a)		2,436		88	Nucor Corp		20,221		1,239
Molina Healthcare Inc (a)		601		80	Reliance Steel & Aluminum Co		191,689		15,695
Quest Diagnostics Inc		129,783		11,336	Steel Dynamics Inc		14,003		512
Universal Health Services Inc		3,507		465	United States Steel Corp		24,095		543
WellCare Health Plans Inc (a)		294		81			$		17,989
		$		14,539

See accompanying notes.

160

Schedule of Investments
MidCap Value Fund I
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held        Value (000’s)			COMMON STOCKS (continued)	Shares Held   Value (000’s)
Leisure Products & Services - 0.29%				Miscellaneous Manufacturers (continued)
Brunswick Corp/DE	24,800	$	1,248	Hexcel Corp		35,997	$	2,437
Harley-Davidson Inc	5,733		211	Ingersoll-Rand PLC		63,784		6,382
Norwegian Cruise Line Holdings Ltd (a)	8,844		455	ITT Inc		14,615		768
Royal Caribbean Cruises Ltd	6,107		733	Parker-Hannifin Corp		75,593		12,459
	$		2,647	Textron Inc		214,209		11,402
Lodging - 0.20%				Trinity Industries Inc		4,039		95
Caesars Entertainment Corp (a)	15,894		145			$		40,298
Choice Hotels International Inc	8,915		706	Office & Business Equipment - 0.02%
Extended Stay America Inc	2,217		38	Xerox Corp		6,356		179
Hilton Worldwide Holdings Inc	3,280		244	Oil & Gas - 4.35%
Hyatt Hotels Corp	1,840		129	Antero Resources Corp (a)		3,739		38
MGM Resorts International	17,979		529	Apache Corp		12,543		412
	$		1,791	Cabot Oil & Gas Corp		64,554		1,611
Machinery - Construction & Mining - 0.03%				Centennial Resource Development Inc/DE (a)		4,940		65
Oshkosh Corp	3,209		241	Chesapeake Energy Corp (a)		27,733		79
Terex Corp	100		3	Cimarex Energy Co		149,377		11,254
	$		244	CNX Resources Corp (a)		6,386		77
Machinery - Diversified - 2.32%				Concho Resources Inc (a)		11,568		1,386
AGCO Corp	167,445		10,750	Continental Resources Inc/OK (a)		10,678		493
Cummins Inc	3,754		552	Devon Energy Corp		340,094		9,064
Dover Corp	4,628		407	Diamondback Energy Inc		3,525		364
Flowserve Corp	3,629		160	EQT Corp		7,311		142
Gardner Denver Holdings Inc (a)	2,722		67	Extraction Oil & Gas Inc (a)		4,684		18
Gates Industrial Corp PLC (a)	1,712		26	Helmerich & Payne Inc		3,730		209
GrafTech International Ltd	2,003		26	Hess Corp		14,243		769
IDEX Corp	4,507		621	HollyFrontier Corp		6,201		349
Middleby Corp/The (a)	472		56	Marathon Oil Corp		55,824		882
Nordson Corp	76		10	Murphy Oil Corp		8,741		239
Roper Technologies Inc	11,543		3,269	Nabors Industries Ltd		10,841		32
Wabtec Corp	1,143		79	Newfield Exploration Co (a)		3,940		72
Xylem Inc/NY	70,362		5,014	Noble Energy Inc		45,548		1,018
	$		21,037	Parsley Energy Inc (a)		313,047		5,816
Media - 1.35%				Patterson-UTI Energy Inc		11,171		135
CBS Corp	158,600		7,844	PBF Energy Inc		3,511		129
Discovery Inc - A Shares (a)	4,234		120	PDC Energy Inc (a)		131,396		4,280
Discovery Inc - C Shares (a)	10,103		269	QEP Resources Inc (a)		7,636		63
DISH Network Corp (a)	20,368		625	Range Resources Corp		6,342		70
John Wiley & Sons Inc	1,241		64	SM Energy Co		3,360		66
Liberty Broadband Corp - A Shares (a)	715		61	Transocean Ltd (a)		14,142		121
Liberty Broadband Corp - C Shares (a)	6,254		532	Whiting Petroleum Corp (a)		2,691		77
Liberty Media Corp-Liberty Formula One - A	773		24	WPX Energy Inc (a)		12,002		147
Shares (a)						$		39,477
Liberty Media Corp-Liberty Formula One - C	11,092		348	Oil & Gas Services - 0.05%
Shares (a)				Apergy Corp (a)		2,342		79
Liberty Media Corp-Liberty SiriusXM - A Shares	17,269		687	National Oilwell Varco Inc		11,408		336
(a)				RPC Inc		1,303		14
Liberty Media Corp-Liberty SiriusXM - C Shares	26,370		1,054			$		429
(a)				Packaging & Containers - 1.06%
News Corp - A Shares	10,418		134	Ardagh Group SA		1,022		12
News Corp - B Shares	6,831		88	Ball Corp		7,047		368
Tribune Media Co	2,412		111	Bemis Co Inc		25,670		1,254
Viacom Inc - A Shares	361		12	Berry Global Group Inc (a)		2,736		135
Viacom Inc - B Shares	10,372		305	Graphic Packaging Holding Co		7,371		89
	$		12,278	Owens-Illinois Inc		4,580		92
Metal Fabrication & Hardware - 0.05%				Packaging Corp of America		71,425		6,737
Timken Co/The	7,391		315	Sealed Air Corp		9,894		391
Valmont Industries Inc	745		96	Silgan Holdings Inc		1,656		46
	$		411	Sonoco Products Co		2,862		165
Mining - 0.24%				Westrock Co		8,066		328
Alcoa Corp (a)	10,274		305			$		9,617
Freeport-McMoRan Inc	104,242		1,213	Pharmaceuticals - 1.44%
Newmont Mining Corp	18,321		625	Agios Pharmaceuticals Inc (a)		102		6
	$		2,143	AmerisourceBergen Corp		116,175		9,686
Miscellaneous Manufacturers - 4.44%				Cardinal Health Inc		37,975		1,898
AptarGroup Inc	61,019		6,048	Herbalife Nutrition Ltd (a)		1,848		110
Carlisle Cos Inc	3,897		420	Jazz Pharmaceuticals PLC (a)		461		58
Crane Co	3,381		279	Mylan NV (a)		29,380		880
Donaldson Co Inc	171		8	Perrigo Co PLC		8,047		373

See accompanying notes.

161

Schedule of Investments MidCap Value Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Pharmaceuticals (continued)					REITs (continued)
Premier Inc (a)		935	$	37	Park Hotels & Resorts Inc		4,179	$	126
		$		13,048	Piedmont Office Realty Trust Inc		17,110		331
Pipelines - 0.67%					Prologis Inc		13,294		919
Cheniere Energy Inc (a)		1,464		96	Public Storage		37,075		7,879
ONEOK Inc		30,464		1,956	Rayonier Inc		3,731		114
Targa Resources Corp		18,214		783	Realty Income Corp		8,655		594
Williams Cos Inc/The		119,888		3,229	Regency Centers Corp		4,900		318
		$		6,064	Retail Properties of America Inc		63,909		807
Real Estate - 0.11%					Retail Value Inc		4,501		137
CBRE Group Inc (a)		5,578		255	Senior Housing Properties Trust		25,996		358
Howard Hughes Corp/The (a)		3,201		355	SL Green Realty Corp		4,390		406
Jones Lang LaSalle Inc		1,631		234	Spirit Realty Capital Inc		2,654		105
Newmark Group Inc		10,358		108	Starwood Property Trust Inc		34,049		752
Realogy Holdings Corp		3,418		61	STORE Capital Corp		5,421		175
		$		1,013	Sun Communities Inc		7,165		788
REITs - 10.90%					Taubman Centers Inc		470		23
AGNC Investment Corp		64,639		1,158	Two Harbors Investment Corp		29,528		430
Alexandria Real Estate Equities Inc		2,003		264	UDR Inc		19,974		873
American Campus Communities Inc		4,894		225	Uniti Group Inc		4,656		93
American Homes 4 Rent		7,242		160	Ventas Inc		31,779		2,050
Annaly Capital Management Inc		62,989		658	VEREIT Inc		20,078		162
Apartment Investment & Management Co		3,487		173	VICI Properties Inc (b)		13,396		288
Apple Hospitality REIT Inc		76,901		1,262	Vornado Realty Trust		23,597		1,650
AvalonBay Communities Inc		15,757		3,040	Weingarten Realty Investors		45,707		1,311
Boston Properties Inc		12,306		1,623	Welltower Inc		7,851		609
Brandywine Realty Trust		76,011		1,143	Weyerhaeuser Co		48,627		1,276
Brixmor Property Group Inc		93,267		1,597	WP Carey Inc		12,024		901
Brookfield Property REIT Inc		14,673		267			$		98,996
Camden Property Trust		20,387		1,976	Retail - 4.20%
Chimera Investment Corp		5,633		107	Advance Auto Parts Inc		5,829		928
Columbia Property Trust Inc		5,243		116	AutoNation Inc (a)		190,262		7,372
CoreCivic Inc		12,510		249	AutoZone Inc (a)		596		505
Corporate Office Properties Trust		16,323		403	Best Buy Co Inc		17,429		1,033
CubeSmart		31,381		971	Burlington Stores Inc (a)		2,870		493
CyrusOne Inc		2,151		117	CarMax Inc (a)		4,757		280
Digital Realty Trust Inc		4,279		464	Casey's General Stores Inc		970		125
Douglas Emmett Inc		4,632		175	Darden Restaurants Inc		75,128		7,883
Duke Realty Corp		46,644		1,364	Dick's Sporting Goods Inc		2,135		75
Empire State Realty Trust Inc		4,337		67	Dollar General Corp		7,214		833
EPR Properties		3,313		242	Dollar Tree Inc (a)		10,354		1,002
Equity Commonwealth		3,488		113	Foot Locker Inc		7,139		399
Equity Residential		38,010		2,758	Gap Inc/The		18,497		470
Essex Property Trust Inc		4,393		1,192	Genuine Parts Co		5,459		545
Extra Space Storage Inc		7,248		714	Kohl's Corp		5,235		360
Federal Realty Investment Trust		4,725		627	L Brands Inc		23,304		649
Gaming and Leisure Properties Inc		5,133		192	Macy's Inc		10,479		276
HCP Inc		25,314		799	Michaels Cos Inc/The (a)		2,745		38
Healthcare Trust of America Inc		386,354		10,979	MSC Industrial Direct Co Inc		6,222		520
Highwoods Properties Inc		146,468		6,492	Nu Skin Enterprises Inc		28,675		1,883
Hospitality Properties Trust		69,668		1,858	Penske Automotive Group Inc		1,057		50
Host Hotels & Resorts Inc		49,231		889	Qurate Retail Inc (a)		27,823		605
Hudson Pacific Properties Inc		5,800		188	Tapestry Inc		14,794		572
Invitation Homes Inc		6,180		139	Tiffany & Co		7,584		672
Iron Mountain Inc		5,907		220	Williams-Sonoma Inc		1,789		97
JBG SMITH Properties		2,965		115	Yum China Holdings Inc		51,871		1,891
Kilroy Realty Corp		4,195		296	Yum! Brands Inc		91,525		8,602
Kimco Realty Corp		33,582		572			$		38,158
Lamar Advertising Co		147,782		11,003	Savings & Loans - 0.09%
Liberty Property Trust		7,175		338	New York Community Bancorp Inc		42,806		497
Life Storage Inc		9,120		896	People's United Financial Inc		10,450		171
Macerich Co/The		14,947		689	Sterling Bancorp/DE		6,364		123
Medical Properties Trust Inc		13,224		241			$		791
MFA Financial Inc		86,211		631	Semiconductors - 0.63%
Mid-America Apartment Communities Inc		5,142		521	Analog Devices Inc		31,777		3,142
National Retail Properties Inc		252,263		13,297	Cypress Semiconductor Corp		27,954		388
New Residential Investment Corp		60,312		1,024	Marvell Technology Group Ltd		24,444		452
Omega Healthcare Investors Inc		6,365		256	Qorvo Inc (a)		3,060		200
Outfront Media Inc		5,177		108	Skyworks Solutions Inc		6,823		499
Paramount Group Inc		38,176		553	Teradyne Inc		17,559		632

See accompanying notes.

162

Schedule of Investments
MidCap Value Fund I
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held       Value (000’s)					(a)	Non-income producing security
Semiconductors (continued)						(b)	Restricted Security. Please see Restricted Security Sub-Schedule for more
Xilinx Inc		3,360	$	376			information.
		$		5,689		(c)	Affiliated Security. Security is either an affiliate (and registered under the
Shipbuilding - 0.00%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Huntington Ingalls Industries Inc		130		27			Company Act of 1940 (controls 5.0% or more of the outstanding voting
Software - 4.94%							shares of the security). Please see affiliated sub-schedule for transactional
Akamai Technologies Inc (a)		9,364		609			information.
ANSYS Inc (a)		2,150		353		(d)	Current yield shown is as of period end.
Aspen Technology Inc (a)		605		58
Autodesk Inc (a)		4,464		658			Portfolio Summary  (unaudited)
Black Knight Inc (a)		166,065		8,169		Sector		Percent
Cerner Corp (a)		55,460		3,045		Financial		30.21	%
Dun & Bradstreet Corp/The		4,179		605		Industrial		15.87	%
Fidelity National Information Services Inc		133,613		13,967		Consumer, Non-cyclical		13.67	%
Nuance Communications Inc (a)		625,980		9,934		Consumer, Cyclical		10.53	%
SS&C Technologies Holdings Inc		1,218		63		Technology		9.53	%
Synopsys Inc (a)		69,883		6,523		Utilities		5.63	%
Take-Two Interactive Software Inc (a)		1,055		112		Energy		5.09	%
Teradata Corp (a)		15,668		695		Basic Materials		4.25	%
Zynga Inc (a)		20,783		93		Communications		3.65	%
		$		44,884		Investment Companies		1.57	%
Telecommunications - 1.43%						Domestic Equity Funds		0.04	%
ARRIS International PLC (a)		4,781		150		Other Assets and Liabilities		(0.04	)%
CenturyLink Inc		29,763		456		TOTAL NET ASSETS		100.00	%
CommScope Holding Co Inc (a)		12,241		256
EchoStar Corp (a)		1,487		61
GCI Liberty Inc (a)		2,697		137
Juniper Networks Inc		44,205		1,147
LogMeIn Inc		390		36
Motorola Solutions Inc		87,688		10,252
Sprint Corp (a)		17,953		112
Telephone & Data Systems Inc		10,875		394
United States Cellular Corp (a)		449		26
		$		13,027
Textiles - 0.03%
Mohawk Industries Inc (a)		1,973		254
Toys, Games & Hobbies - 1.38%
Hasbro Inc		138,247		12,520
Transportation - 1.17%
Expeditors International of Washington Inc		3,820		265
Genesee & Wyoming Inc (a)		1,380		108
Kansas City Southern		4,942		522
Kirby Corp (a)		1,611		121
Knight-Swift Transportation Holdings Inc		3,648		116
Landstar System Inc		89,875		9,130
Old Dominion Freight Line Inc		1,480		201
Ryder System Inc		1,476		85
Schneider National Inc		3,219		69
		$		10,617
Water - 0.19%
American Water Works Co Inc		3,759		360
Aqua America Inc		38,987		1,366
		$		1,726
TOTAL COMMON STOCKS		$		893,526
INVESTMENT COMPANIES - 1.61%	Shares Held       Value (000's)
Money Market Funds - 1.57%
Principal Government Money Market Fund	14,290,569			14,291
2.32%(c),(d)
Principal Exchange-Traded Funds - 0.04%
Principal Shareholder Yield Index ETF (c)		5,217		159
Principal Sustainable Momentum Index ETF (c)		5,382		143
Principal U.S. Small-Cap Multi-Factor Index		422		12
ETF (c)
		$		314
TOTAL INVESTMENT COMPANIES		$		14,605
Total Investments		$		908,131
Other Assets and Liabilities -  (0.04)%				(322	)
TOTAL NET ASSETS - 100.00%		$		907,809

See accompanying notes.

163

Schedule of Investments
MidCap Value Fund I
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases				Sales		January 31, 2019
		Value					Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	19,620	$				115,326	$	120,655	$		14,291
Principal Shareholder Yield Index ETF		—					164		—			159
Principal Sustainable Momentum Index ETF		—					142		—			143
Principal U.S. Small-Cap Multi-Factor Index ETF		—					13		1			12
	$	19,620	$				115,645	$	120,656	$		14,605
				Realized Gain/Loss			Realized Gain from				Change in Unrealized
		Income		on Investments			Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	77	$		— $		— $					—
Principal Shareholder Yield Index ETF		1			—		—					(5	)
Principal Sustainable Momentum Index ETF		1			—		—					1
Principal U.S. Small-Cap Multi-Factor Index ETF		—			—		—					—
	$	79	$		— $		— $					(4	)
Amounts in thousands
Restricted Securities
Security Name		Acquisition Date					Cost		Value		Percent of Net Assets
VICI Properties Inc		04/12/2018-01/14/2019				$	284	$	288			0.03	%
Total								$	288			0.03	%
Amounts in thousands.
Futures Contracts
Description and Expiration Date		Type		Contracts					Notional Amount		Value and Unrealized Appreciation/(Depreciation)
S&P Mid 400 Emini; March 2019		Long			33	$	6,059			$		419
Total										$		419
Amounts in thousands except contracts.

See accompanying notes.

164

Schedule of Investments MidCap Value Fund III

January 31, 2019 (unaudited)

COMMON STOCKS - 98.33%	Shares Held   Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Advertising - 0.02%					Banks (continued)
Interpublic Group of Cos Inc/The		4,924	$	112	SunTrust Banks Inc		6,535	$	388
Omnicom Group Inc		1,133		88	SVB Financial Group (a)		120		28
		$		200	Synovus Financial Corp		1,504		53
Aerospace & Defense - 2.11%					TCF Financial Corp		2,393		53
Arconic Inc		4,298		81	Texas Capital Bancshares Inc (a)		325		19
Curtiss-Wright Corp		579		66	Umpqua Holdings Corp		3,140		56
L3 Technologies Inc		35,581		7,005	Valley National Bancorp		483,046		4,884
Spirit AeroSystems Holdings Inc		166,232		13,864	Webster Financial Corp		1,232		66
Teledyne Technologies Inc (a)		600		134	Western Alliance Bancorp (a)		608		27
		$		21,150	Wintrust Financial Corp		784		56
Agriculture - 0.36%					Zions Bancorp NA		127,509		6,068
Archer-Daniels-Midland Co		78,607		3,529			$		60,733
Bunge Ltd		1,396		77	Beverages - 0.73%
		$		3,606	Coca-Cola European Partners PLC		150,340		7,153
Airlines - 0.06%					Molson Coors Brewing Co		1,731		116
Alaska Air Group Inc		1,192		76			$		7,269
American Airlines Group Inc		4,125		148	Biotechnology - 0.02%
Copa Holdings SA		430		41	Alnylam Pharmaceuticals Inc (a)		129		11
JetBlue Airways Corp (a)		4,188		75	Bio-Rad Laboratories Inc (a)		270		68
United Continental Holdings Inc (a)		3,452		301	Bluebird Bio Inc (a)		213		28
		$		641	United Therapeutics Corp (a)		545		63
Apparel - 1.30%							$		170
Capri Holdings Ltd (a)		102,979		4,374	Building Materials - 2.04%
Columbia Sportswear Co		67,058		5,981	Eagle Materials Inc		151		11
Hanesbrands Inc		156,580		2,347	Fortune Brands Home & Security Inc		825		37
PVH Corp		1,188		130	Johnson Controls International plc		307,310		10,378
Ralph Lauren Corp		720		84	Lennox International Inc		41		9
Skechers U.S.A. Inc (a)		958		26	Martin Marietta Materials Inc		58		10
Under Armour Inc - Class A (a)		591		12	Masco Corp		975		32
Under Armour Inc - Class C (a)		614		12	MDU Resources Group Inc		2,480		64
VF Corp		742		62	Owens Corning		188,404		9,871
		$		13,028	USG Corp		1,074		46
Automobile Manufacturers - 0.02%					Vulcan Materials Co		108		11
PACCAR Inc		3,425		224			$		20,469
Automobile Parts & Equipment - 0.57%					Chemicals - 2.41%
Adient PLC		1,270		25	Albemarle Corp		1,074		87
Aptiv PLC		345		27	Ashland Global Holdings Inc		817		62
BorgWarner Inc		3,320		136	Axalta Coating Systems Ltd (a)		447,829		11,474
Goodyear Tire & Rubber Co/The		3,122		66	Cabot Corp		92,449		4,335
Lear Corp		35,238		5,425	Celanese Corp		47,849		4,582
Visteon Corp (a)		161		12	CF Industries Holdings Inc		3,483		152
		$		5,691	Eastman Chemical Co		2,185		176
Banks - 6.06%					FMC Corp		789		63
Associated Banc-Corp		2,408		52	Huntsman Corp		3,031		67
Bank OZK		1,810		55	International Flavors & Fragrances Inc		520		74
BankUnited Inc		1,499		51	Mosaic Co/The		89,188		2,879
BOK Financial Corp		377		31	NewMarket Corp		21		8
CIT Group Inc		1,576		73	Olin Corp		2,325		55
Citizens Financial Group Inc		176,991		6,004	RPM International Inc		1,042		59
Comerica Inc		71,404		5,622	Univar Inc (a)		1,321		27
Commerce Bancshares Inc/MO		1,311		78	Valvoline Inc		2,596		57
Cullen/Frost Bankers Inc		771		75	Westlake Chemical Corp		147		11
East West Bancorp Inc		1,329		67			$		24,168
Fifth Third Bancorp		9,768		262	Commercial Services - 4.09%
First Citizens BancShares Inc/NC		115		47	Aaron's Inc		92,900		4,651
First Hawaiian Inc		1,525		39	AMERCO		107		39
First Horizon National Corp		4,468		66	Aramark		286,630		9,444
First Republic Bank/CA		1,599		154	Booz Allen Hamilton Holding Corp		575		28
FNB Corp/PA		948,037		11,045	Bright Horizons Family Solutions Inc (a)		16,102		1,865
Huntington Bancshares Inc/OH		16,406		217	CoreLogic Inc/United States (a)		442		16
KeyCorp		962,108		15,846	Equifax Inc		868		93
M&T Bank Corp		1,447		238	Euronet Worldwide Inc (a)		349		40
Northern Trust Corp		1,510		134	Graham Holdings Co		56		37
PacWest Bancorp		1,726		67	H&R Block Inc		2,227		52
Pinnacle Financial Partners Inc		600		32	IHS Markit Ltd (a)		5,468		284
Popular Inc		47,615		2,600	Korn Ferry		131,400		5,992
Regions Financial Corp		405,686		6,154	Macquarie Infrastructure Corp		1,074		46
Signature Bank/New York NY		201		26	ManpowerGroup Inc		880		70
					Nielsen Holdings PLC		283,649		7,284

See accompanying notes.

165

Schedule of Investments
MidCap Value Fund III
January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Commercial Services (continued)					Electric (continued)
Quanta Services Inc		1,494	$	53	Edison International		4,739	$	270
Sabre Corp		1,620		37	Entergy Corp		171,677		15,312
Service Corp International/US		916		39	Evergy Inc		4,117		236
Total System Services Inc		118,510		10,620	Eversource Energy		3,159		219
Worldpay Inc (a)		2,721		227	FirstEnergy Corp		366,675		14,374
		$		40,917	Hawaiian Electric Industries Inc		1,382		51
Computers - 1.04%					NRG Energy Inc		4,906		201
Amdocs Ltd		1,417		79	OGE Energy Corp		3,596		147
Conduent Inc (a)		2,626		33	Pinnacle West Capital Corp		153,800		13,552
Dell Technologies Inc (a)		2,588		126	PPL Corp		6,992		219
DXC Technology Co		49,537		3,176	Public Service Enterprise Group Inc		5,037		275
Genpact Ltd		1,293		39	Sempra Energy		2,731		320
Leidos Holdings Inc		2,176		126	Vistra Energy Corp (a)		6,930		174
NCR Corp (a)		410		11	WEC Energy Group Inc		3,149		230
Perspecta Inc		329,211		6,601	Xcel Energy Inc		299,577		15,686
Western Digital Corp		4,347		196			$		79,737
		$		10,387	Electrical Components & Equipment - 0.75%
Consumer Products - 0.47%					Acuity Brands Inc		535		65
Central Garden & Pet Co - A Shares (a)		130,700		4,655	AMETEK Inc		101,778		7,419
Church & Dwight Co Inc		367		24	Energizer Holdings Inc		318		15
Clorox Co/The		166		25	Hubbell Inc		268		29
Spectrum Brands Holdings Inc		283		16	Littelfuse Inc		66		12
		$		4,720			$		7,540
Cosmetics & Personal Care - 0.01%					Electronics - 1.96%
Coty Inc		5,958		46	ADT Inc		1,934		14
Distribution & Wholesale - 0.02%					Agilent Technologies Inc		77,919		5,926
HD Supply Holdings Inc (a)		2,444		103	Allegion PLC		542		47
KAR Auction Services Inc		195		10	Arrow Electronics Inc (a)		1,428		108
LKQ Corp (a)		2,632		69	Avnet Inc		1,597		66
Watsco Inc		98		15	Coherent Inc (a)		113		13
WESCO International Inc (a)		695		36	Corning Inc		10,680		355
		$		233	FLIR Systems Inc		1,951		95
Diversified Financial Services - 4.33%					Fortive Corp		239		18
Affiliated Managers Group Inc		723		76	Garmin Ltd		1,136		79
Air Lease Corp		1,245		47	Gentex Corp		1,198		25
Ally Financial Inc		6,690		174	Jabil Inc		2,309		62
Ameriprise Financial Inc		1,804		228	Keysight Technologies Inc (a)		1,868		138
BGC Partners Inc		3,897		24	National Instruments Corp		310		14
Cboe Global Markets Inc		105		10	nVent Electric PLC		2,329		58
Credit Acceptance Corp (a)		28		11	PerkinElmer Inc		1,095		99
Discover Financial Services		89,947		6,070	Sensata Technologies Holding PLC (a)		757		36
E*TRADE Financial Corp		2,006		94	SYNNEX Corp		67,400		6,522
Franklin Resources Inc		3,080		91	Trimble Inc (a)		2,487		94
Interactive Brokers Group Inc - A Shares		198		10	Vishay Intertechnology Inc		300,300		5,856
Invesco Ltd		4,029		73	Waters Corp (a)		54		12
Jefferies Financial Group Inc		380,963		7,928			$		19,637
Lazard Ltd		119,957		4,773	Engineering & Construction - 0.02%
Legg Mason Inc		1,263		38	AECOM (a)		2,155		66
Nasdaq Inc		1,151		101	Fluor Corp		1,813		66
Navient Corp		712,833		8,127	Jacobs Engineering Group Inc		1,271		83
OneMain Holdings Inc		1,116		33			$		215
Raymond James Financial Inc		917		74	Entertainment - 0.63%
Santander Consumer USA Holdings Inc		1,593		30	Cinemark Holdings Inc		1,409		58
SLM Corp	1,096,161			11,741	Eldorado Resorts Inc (a)		132,200		6,163
Synchrony Financial		118,599		3,563	International Game Technology PLC		1,263		21
T Rowe Price Group Inc		163		15	Lions Gate Entertainment Corp - A shares		643		12
Western Union Co/The		3,231		59	Lions Gate Entertainment Corp - B shares		1,254		22
		$		43,390	Madison Square Garden Co/The (a)		214		59
Electric - 7.96%							$		6,335
AES Corp/VA		11,184		183	Environmental Control - 0.66%
Alliant Energy Corp		2,300		102	Advanced Disposal Services Inc (a)		245,400		6,184
Ameren Corp		177,144		12,284	Clean Harbors Inc (a)		753		45
Avangrid Inc		715		36	Pentair PLC		2,751		113
CenterPoint Energy Inc		162,316		5,019	Republic Services Inc		3,032		233
CMS Energy Corp		4,208		219			$		6,575
Consolidated Edison Inc		3,109		241
Dominion Energy Inc		1,116		78
DTE Energy Co		2,622		309

See accompanying notes.

166

Schedule of Investments MidCap Value Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Food - 0.61%					Home Builders - 0.84%
Campbell Soup Co		543	$	19	DR Horton Inc		1,419	$	54
Conagra Brands Inc		7,375		160	Lennar Corp - A Shares		121,367		5,755
Flowers Foods Inc		2,292		45	Lennar Corp - B Shares		278		11
Hain Celestial Group Inc/The (a)		1,217		22	PulteGroup Inc		3,172		88
Hershey Co/The		125		13	Thor Industries Inc		193		13
Hormel Foods Corp		2,708		115	Toll Brothers Inc		944		35
Ingredion Inc		704		70	William Lyon Homes (a)		187,800		2,490
JM Smucker Co/The		1,813		190			$		8,446
Kellogg Co		2,277		134	Home Furnishings - 0.75%
Kroger Co/The		11,552		327	Dolby Laboratories Inc		853		55
Lamb Weston Holdings Inc		1,460		105	Leggett & Platt Inc		1,712		70
McCormick & Co Inc/MD		35,942		4,444	Whirlpool Corp		55,582		7,393
Pilgrim's Pride Corp (a)		674		14			$		7,518
Post Holdings Inc (a)		273		25	Housewares - 0.01%
Seaboard Corp		2		8	Newell Brands Inc		4,379		93
TreeHouse Foods Inc (a)		695		41	Scotts Miracle-Gro Co/The		284		21
Tyson Foods Inc		4,502		279			$		114
US Foods Holding Corp (a)		2,021		68	Insurance - 7.65%
		$		6,079	Alleghany Corp		126		80
Forest Products & Paper - 0.03%					American Financial Group Inc/OH		84,561		8,066
Domtar Corp		909		43	American National Insurance Co		144		20
International Paper Co		5,239		248	Arch Capital Group Ltd (a)		3,236		95
		$		291	Arthur J Gallagher & Co		1,798		134
Gas - 1.43%					Assurant Inc		726		70
Atmos Energy Corp		143,185		13,979	Assured Guaranty Ltd		1,507		61
National Fuel Gas Co		1,037		60	Athene Holding Ltd (a)		146,045		6,265
NiSource Inc		3,600		98	AXA Equitable Holdings Inc		368,233		6,827
UGI Corp		2,927		167	Axis Capital Holdings Ltd		182,457		9,771
Vectren Corp		829		60	Brighthouse Financial Inc (a)		1,695		63
		$		14,364	Brown & Brown Inc		2,180		59
Hand & Machine Tools - 1.40%					Cincinnati Financial Corp		1,530		124
Colfax Corp (a)		1,176		29	CNA Financial Corp		480		22
Regal Beloit Corp		636		49	Erie Indemnity Co		113		17
Snap-on Inc		903		150	Everest Re Group Ltd		241		53
Stanley Black & Decker Inc		108,939		13,774	Fidelity National Financial Inc		241,507		8,733
		$		14,002	First American Financial Corp		151,878		7,606
Healthcare - Products - 0.13%					Hanover Insurance Group Inc/The		72,063		8,218
Bruker Corp		763		27	Hartford Financial Services Group Inc/The		5,278		248
Cooper Cos Inc/The		405		113	Lincoln National Corp		41,181		2,409
DENTSPLY SIRONA Inc		2,180		92	Loews Corp		2,775		133
Henry Schein Inc (a)		1,953		152	Markel Corp (a)		125		132
Hill-Rom Holdings Inc		556		56	Mercury General Corp		388		20
Hologic Inc (a)		2,705		120	Old Republic International Corp		5,062		102
Integra LifeSciences Holdings Corp (a)		229		11	Reinsurance Group of America Inc		1,051		152
QIAGEN NV (a)		2,199		81	Torchmark Corp		1,720		144
STERIS PLC		1,272		145	Unum Group		3,694		128
Teleflex Inc		367		100	Voya Financial Inc		1,486		69
West Pharmaceutical Services Inc		556		60	Willis Towers Watson PLC		102,820		16,738
Zimmer Biomet Holdings Inc		2,822		309	WR Berkley Corp		943		72
		$		1,266			$		76,631
Healthcare - Services - 2.76%					Internet - 0.02%
Acadia Healthcare Co Inc (a)		1,105		30	FireEye Inc (a)		998		18
Catalent Inc (a)		1,414		52	Symantec Corp		6,177		130
Centene Corp (a)		77,297		10,093			$		148
Charles River Laboratories International Inc (a)		133		16	Iron & Steel - 0.45%
DaVita Inc (a)		619		35	Nucor Corp		69,169		4,236
IQVIA Holdings Inc (a)		1,627		210	Reliance Steel & Aluminum Co		953		78
Laboratory Corp of America Holdings (a)		61,910		8,627	Steel Dynamics Inc		3,359		123
MEDNAX Inc (a)		1,167		42	United States Steel Corp		2,426		55
Molina Healthcare Inc (a)		286		38			$		4,492
Quest Diagnostics Inc		2,028		177	Leisure Products & Services - 3.39%
Syneos Health Inc (a)		158,200		8,075	Brunswick Corp/DE		1,035		52
Universal Health Services Inc		1,273		169	Harley-Davidson Inc		2,749		101
WellCare Health Plans Inc (a)		139		38	Norwegian Cruise Line Holdings Ltd (a)		258,338		13,287
		$		27,602	Royal Caribbean Cruises Ltd		170,628		20,484
							$		33,924

See accompanying notes.

167

Schedule of Investments MidCap Value Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held       Value (000’s)			COMMON STOCKS (continued)	Shares Held     Value (000’s)
Lodging - 1.88%				Miscellaneous Manufacturers (continued)
Caesars Entertainment Corp (a)	7,624	$	70	Trinity Industries Inc		1,937	$	46
Extended Stay America Inc	1,061		18			$		14,199
Hyatt Hotels Corp	565		39	Office & Business Equipment - 0.36%
MGM Resorts International	324,244		9,546	Xerox Corp		127,747		3,604
Wyndham Hotels & Resorts Inc	186,007		9,131	Oil & Gas - 6.11%
	$		18,804	Antero Resources Corp (a)		1,808		18
Machinery - Construction & Mining - 0.47%				Apache Corp		5,344		175
BWX Technologies Inc	100,255		4,654	Cabot Oil & Gas Corp		1,144		29
Oshkosh Corp	1,005		75	Centennial Resource Development Inc/DE (a)		2,367		31
	$		4,729	Chesapeake Energy Corp (a)		779,114		2,221
Machinery - Diversified - 1.44%				Cimarex Energy Co		1,389		105
AGCO Corp	884		57	CNX Resources Corp (a)		3,061		37
Cummins Inc	24,247		3,567	Concho Resources Inc (a)		1,688		202
Dover Corp	2,218		195	Continental Resources Inc/OK (a)		643		30
Flowserve Corp	1,739		77	Devon Energy Corp		200,257		5,337
Gardner Denver Holdings Inc (a)	1,304		32	Diamondback Energy Inc		1,286		133
Gates Industrial Corp PLC (a)	819		12	EQT Corp		3,506		68
GrafTech International Ltd	959		13	Extraction Oil & Gas Inc (a)		2,577		10
IDEX Corp	281		39	Helmerich & Payne Inc		1,788		100
Middleby Corp/The (a)	224		26	Hess Corp		219,934		11,877
Nordson Corp	69		9	HollyFrontier Corp		2,590		146
Roper Technologies Inc	1,162		329	Mammoth Energy Services Inc		110,100		2,436
Wabtec Corp	145,280		10,047	Marathon Oil Corp		12,603		199
Xylem Inc/NY	786		56	Marathon Petroleum Corp		78,600		5,208
	$		14,459	Murphy Oil Corp		2,269		62
Media - 1.69%				Nabors Industries Ltd		5,197		15
Discovery Inc - A Shares (a)	2,034		58	Newfield Exploration Co (a)		1,888		34
Discovery Inc - C Shares (a)	4,846		129	Noble Energy Inc		6,932		155
DISH Network Corp (a)	3,255		100	Parsley Energy Inc (a)		619,555		11,512
John Wiley & Sons Inc	594		31	Patterson-UTI Energy Inc		3,140		38
Liberty Broadband Corp - A Shares (a)	341		29	PBF Energy Inc		1,683		62
Liberty Broadband Corp - C Shares (a)	1,033		88	QEP Resources Inc (a)		3,661		30
Liberty Media Corp-Liberty Formula One - A	337		10	Range Resources Corp		3,039		33
Shares (a)				SM Energy Co		1,611		32
Liberty Media Corp-Liberty Formula One - C	1,958		61	Transocean Ltd (a)		6,782		58
Shares (a)				Vermilion Energy Inc		548,485		13,465
Liberty Media Corp-Liberty SiriusXM - A Shares	1,115		44	Whiting Petroleum Corp (a)		117,189		3,355
(a)				WildHorse Resource Development Corp (a)		233,300		3,959
Liberty Media Corp-Liberty SiriusXM - C Shares	1,668		67	WPX Energy Inc (a)		5,276		65
(a)						$		61,237
Meredith Corp	177,573		9,637	Oil & Gas Services - 0.02%
News Corp - A Shares	4,995		64	Apergy Corp (a)		1,122		38
News Corp - B Shares	1,672		22	National Oilwell Varco Inc		5,471		161
Tribune Media Co	1,155		53	RPC Inc		998		11
Viacom Inc - A Shares	327		11			$		210
Viacom Inc - B Shares	221,774		6,524	Packaging & Containers - 0.61%
	$		16,928	Ardagh Group SA		916		11
Metal Fabrication & Hardware - 0.55%				Ball Corp		62,077		3,245
Rexnord Corp (a)	207,800		5,434	Bemis Co Inc		1,221		60
Timken Co/The	963		41	Berry Global Group Inc (a)		1,311		65
Valmont Industries Inc	288		37	Graphic Packaging Holding Co		3,532		43
	$		5,512	Owens-Illinois Inc		2,195		44
Mining - 0.51%				Sealed Air Corp		974		38
Alcoa Corp (a)	91,414		2,714	Silgan Holdings Inc		792		22
Freeport-McMoRan Inc	188,171		2,190	Sonoco Products Co		1,324		76
Newmont Mining Corp	5,318		181	Westrock Co		61,568		2,506
	$		5,085			$		6,110
Miscellaneous Manufacturers - 1.42%				Pharmaceuticals - 1.96%
AptarGroup Inc	618		61	Agios Pharmaceuticals Inc (a)		113		6
Carlisle Cos Inc	772		83	Cardinal Health Inc		4,434		221
Crane Co	715		59	Cigna Corp		63,230		12,634
Donaldson Co Inc	198		10	Herbalife Nutrition Ltd (a)		66,586		3,975
Hexcel Corp	956		65	Horizon Pharma Plc (a)		116,300		2,499
Ingersoll-Rand PLC	72,951		7,298	Jazz Pharmaceuticals PLC (a)		221		28
ITT Inc	118,119		6,208	Mylan NV (a)		7,266		218
Parker-Hannifin Corp	1,573		259	Perrigo Co PLC		1,272		59
Textron Inc	2,064		110	Premier Inc (a)		446		18
						$		19,658

See accompanying notes.

168

Schedule of Investments MidCap Value Fund III

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Pipelines - 0.94%					REITs (continued)
Cheniere Energy Inc (a)		701	$	46	Regency Centers Corp		2,351	$	153
ONEOK Inc		138,695		8,905	Retail Properties of America Inc		3,197		40
Targa Resources Corp		3,406		147	Retail Value Inc		333		10
Williams Cos Inc/The		12,139		327	Senior Housing Properties Trust		3,353		46
		$		9,425	SL Green Realty Corp		833		77
Real Estate - 0.93%					Spirit Realty Capital Inc		1,272		51
CBRE Group Inc (a)		200,574		9,176	Starwood Property Trust Inc		3,596		79
Jones Lang LaSalle Inc		786		113	STORE Capital Corp		141,998		4,589
Realogy Holdings Corp		1,638		29	Sun Communities Inc		1,312		144
		$		9,318	Two Harbors Investment Corp		3,599		53
REITs - 11.62%					UDR Inc		2,636		115
AGNC Investment Corp		8,413		151	Uniti Group Inc		2,231		44
Alexandria Real Estate Equities Inc		960		126	Ventas Inc		4,929		318
American Campus Communities Inc		2,347		108	VEREIT Inc		9,635		78
American Homes 4 Rent		3,474		77	VICI Properties Inc (b)		6,426		138
Annaly Capital Management Inc		19,562		204	Vornado Realty Trust		1,719		120
Apartment Investment & Management Co		1,554		77	Weingarten Realty Investors		1,776		51
Apple Hospitality REIT Inc		3,077		51	Welltower Inc		3,717		288
AvalonBay Communities Inc		1,914		369	Weyerhaeuser Co		7,562		198
Boston Properties Inc		1,542		203	WP Carey Inc		1,733		130
Brandywine Realty Trust		2,565		39			$		116,407
Brixmor Property Group Inc		4,204		72	Retail - 4.21%
Brookfield Property REIT Inc		2,331		42	Advance Auto Parts Inc		84,896		13,515
Camden Property Trust		883		86	AutoNation Inc (a)		761		30
Chimera Investment Corp		2,701		51	AutoZone Inc (a)		65		55
Columbia Property Trust Inc		1,646		36	Best Buy Co Inc		115,603		6,848
Corporate Office Properties Trust		1,504		37	CarMax Inc (a)		695		41
CubeSmart		3,223		100	Casey's General Stores Inc		464		60
CyrusOne Inc		1,029		56	Darden Restaurants Inc		971		102
Digital Realty Trust Inc		2,051		222	Dick's Sporting Goods Inc		1,023		36
Douglas Emmett Inc		2,220		84	Dollar General Corp		133,036		15,356
Duke Realty Corp		274,556		8,029	Dollar Tree Inc (a)		2,730		264
Empire State Realty Trust Inc		2,077		32	Foot Locker Inc		1,932		108
EPR Properties		1,053		77	Gap Inc/The		3,417		87
Equity Commonwealth		1,673		54	Genuine Parts Co		2,047		204
Equity LifeStyle Properties Inc		105,700		11,192	GMS Inc (a)		182,600		3,457
Equity Residential		4,941		359	Kohl's Corp		2,510		172
Essex Property Trust Inc		938		254	L Brands Inc		3,086		86
Extra Space Storage Inc		495		49	Macy's Inc		4,662		123
Federal Realty Investment Trust		1,120		149	Michaels Cos Inc/The (a)		1,313		18
Gaming and Leisure Properties Inc		2,460		92	MSC Industrial Direct Co Inc		377		31
GEO Group Inc/The		342,118		7,715	Nu Skin Enterprises Inc		486		32
HCP Inc		324,367		10,231	Penske Automotive Group Inc		505		24
Healthcare Trust of America Inc		2,843		81	Qurate Retail Inc (a)		6,505		142
Highwoods Properties Inc		169,544		7,514	Tapestry Inc		3,571		138
Hospitality Properties Trust		2,331		62	Texas Roadhouse Inc		16,500		1,004
Host Hotels & Resorts Inc		7,311		132	Tiffany & Co		1,017		90
Hudson Pacific Properties Inc		1,821		59	Williams-Sonoma Inc		858		47
Invitation Homes Inc		2,966		67	Yum China Holdings Inc		3,382		123
Iron Mountain Inc		2,833		105			$		42,193
JBG SMITH Properties		1,422		55	Savings & Loans - 1.28%
Kilroy Realty Corp		966		68	New York Community Bancorp Inc	1,089,353			12,658
Kimco Realty Corp		6,725		114	People's United Financial Inc		5,012		82
Lamar Advertising Co		421		31	Sterling Bancorp/DE		3,052		59
Liberty Property Trust		450,588		21,241			$		12,799
Life Storage Inc		616		61	Semiconductors - 2.45%
Macerich Co/The		1,349		62	Analog Devices Inc		4,146		410
Medical Properties Trust Inc		6,344		115	Cypress Semiconductor Corp		1,679		23
MFA Financial Inc		6,570		48	Entegris Inc		120,600		3,986
MGM Growth Properties LLC		501,870		15,558	Marvell Technology Group Ltd		450,630		8,351
Mid-America Apartment Communities Inc		1,674		170	Microchip Technology Inc		143,417		11,526
National Retail Properties Inc		2,570		136	Qorvo Inc (a)		1,258		82
New Residential Investment Corp		6,577		112	Skyworks Solutions Inc		969		71
Omega Healthcare Investors Inc		3,053		123	Teradyne Inc		2,460		88
Outfront Media Inc		1,930		40			$		24,537
Park Hotels & Resorts Inc		316,704		9,523	Shipbuilding - 0.00%
Prologis Inc		194,400		13,445	Huntington Ingalls Industries Inc		60		12
Rayonier Inc		1,788		54
Realty Income Corp		4,151		285

See accompanying notes.

169

Schedule of Investments
MidCap Value Fund III
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held       Value (000’s)					Portfolio Summary  (unaudited)
Software - 1.43%						Sector	Percent
Akamai Technologies Inc (a)		437	$	28		Financial	31.87	%
Aspen Technology Inc (a)		289		28		Industrial	14.66	%
Autodesk Inc (a)		347		51		Consumer, Cyclical	13.69	%
Cerner Corp (a)		2,634		145		Consumer, Non-cyclical	11.14	%
Dun & Bradstreet Corp/The		307		44		Utilities	9.41	%
Fidelity National Information Services Inc		4,032		421		Energy	7.07	%
Nuance Communications Inc (a)		3,898		62		Technology	5.28	%
SS&C Technologies Holdings Inc		583		30		Basic Materials	3.40	%
Synopsys Inc (a)		112,235		10,478		Investment Companies	1.90	%
Take-Two Interactive Software Inc (a)		28,453		3,003		Communications	1.81	%
Teradata Corp (a)		504		22		Domestic Equity Funds	0.03	%
Zynga Inc (a)		9,967		45		Other Assets and Liabilities	(0.26	)%
		$		14,357		TOTAL NET ASSETS	100.00	%
Telecommunications - 0.08%
ARRIS International PLC (a)		2,293		72
CenturyLink Inc		12,867		197
CommScope Holding Co Inc (a)		2,680		56
EchoStar Corp (a)		712		29
GCI Liberty Inc (a)		1,292		66
Juniper Networks Inc		5,132		133
Motorola Solutions Inc		1,435		168
Sprint Corp (a)		8,611		54
Telephone & Data Systems Inc		1,295		47
United States Cellular Corp (a)		195		11
		$		833
Textiles - 0.01%
Mohawk Industries Inc (a)		620		80
Toys, Games & Hobbies - 0.00%
Hasbro Inc		247		22
Transportation - 1.23%
Genesee & Wyoming Inc (a)		660		52
Golar LNG Ltd		325,891		7,258
Kansas City Southern		1,020		108
Kirby Corp (a)		770		58
Knight-Swift Transportation Holdings Inc		1,749		55
Ryder System Inc		81,664		4,729
Schneider National Inc		729		15
		$		12,275
Water - 0.02%
American Water Works Co Inc		1,801		172
Aqua America Inc		1,772		62
		$		234
TOTAL COMMON STOCKS		$		984,985
INVESTMENT COMPANIES - 1.93%	Shares Held      Value (000's)
Money Market Funds - 1.90%
Principal Government Money Market Fund	19,016,588			19,017
2.32%(c),(d)
Principal Exchange-Traded Funds - 0.03%
Principal Shareholder Yield Index ETF (c)		5,217		159
Principal Sustainable Momentum Index ETF (c)		5,382		143
Principal U.S. Small-Cap Multi-Factor Index		422		13
ETF (c)
		$		315
TOTAL INVESTMENT COMPANIES		$		19,332
Total Investments		$		1,004,317
Other Assets and Liabilities -  (0.26)%				(2,624	)
TOTAL NET ASSETS - 100.00%		$		1,001,693

(a)	Non-income producing security
(b)	Restricted Security. Please see Restricted Security Sub-Schedule for more information.
(c)	Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.
(d)	Current yield shown is as of period end.

See accompanying notes.

170

Schedule of Investments
MidCap Value Fund III
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases				Sales		January 31, 2019
		Value					Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$	22,789	$				102,137	$	105,909	$		19,017
Principal Shareholder Yield Index ETF		—					164		—			159
Principal Sustainable Momentum Index ETF		—					142		—			143
Principal U.S. Small-Cap Multi-Factor Index ETF		—					13		—			13
	$	22,789	$				102,456	$	105,909	$		19,332
				Realized Gain/Loss			Realized Gain from				Change in Unrealized
		Income		on Investments			Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	115	$		— $		— $					—
Principal Shareholder Yield Index ETF		1			—		—					(5	)
Principal Sustainable Momentum Index ETF		—			—		—					1
Principal U.S. Small-Cap Multi-Factor Index ETF		—			—		—					—
	$	116	$		— $		— $					(4	)
Amounts in thousands
Restricted Securities
Security Name		Acquisition Date					Cost		Value		Percent of Net Assets
VICI Properties Inc		04/12/2018-12/11/2018				$	137	$	138			0.01	%
Total								$	138			0.01	%
Amounts in thousands.
Futures Contracts
Description and Expiration Date		Type		Contracts					Notional Amount		Value and Unrealized Appreciation/(Depreciation)
S&P Mid 400 Emini; March 2019		Long			22	$	4,039			$		110
Total										$		110
Amounts in thousands except contracts.

See accompanying notes.

171

     Schedule of Investments Money Market Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 3.99%		Shares Held          Value (000's)					Principal
Money Market Funds - 3.99%					MUNICIPAL BONDS (continued)	Amount (000’s)    Value (000’s)
DWS Government Money Market Series 2.43%(a)		5,920,000	$	5,920	Illinois - 1.38%
Goldman Sachs Financial Square Funds -		4,920,000		4,920	Memorial Health System/IL  (credit support from
Government Fund 2.36%(a)					JPMorgan Chase & Co)
Morgan Stanley Institutional Liquidity Funds -		5,430,000		5,430	2.40%, 02/07/2019(c),(e)	$	7,200	$	7,200
Government Portfolio 2.37%(a)					Maryland - 1.51%
STIT - Government & Agency Portfolio 2.33%(a)		4,570,000		4,570	City of Baltimore MD  (credit support from State
		$		20,840	Street Bank)
TOTAL INVESTMENT COMPANIES		$		20,840	2.39%, 02/07/2019(c),(e)		7,915		7,915
		Principal			Minnesota - 0.67%
BONDS - 6.37%	Amount (000's)       Value (000's)				City of St Paul MN  (credit support from Wells
Automobile Asset Backed Securities - 2.53%					Fargo)
Americredit Automobile Receivables Trust 2018-2					2.48%, 02/07/2019(c),(e)		3,500		3,500
2.43%, 08/19/2019	$	134	$	134	TOTAL MUNICIPAL BONDS		$		37,063
Americredit Automobile Receivables Trust 2018-3							Principal
2.71%, 11/18/2019		1,330		1,330	COMMERCIAL PAPER - 76.72%	Amount (000's)    Value (000's)
Capital Auto Receivables Asset Trust 2018-2					Agriculture - 1.57%
2.70%, 11/20/2019(b)		1,118		1,118	Archer-Daniels-Midland Co
Drive Auto Receivables Trust 2018-5					2.40%, 02/05/2019(b)	$	2,000	$	1,999
2.68%, 11/15/2019		1,035		1,035	2.44%, 02/12/2019(b)		3,000		2,998
Drive Auto Receivables Trust 2019-1					Philip Morris International Inc
2.78%, 01/15/2020		3,300		3,300	2.55%, 03/06/2019(b)		3,200		3,193
Ford Credit Auto Lease Trust							$		8,190
2.45%, 10/15/2019		1,121		1,121	Automobile Manufacturers - 3.15%
Santander Drive Auto Receivables Trust 2018-5					American Honda Finance Corp  (credit support
2.63%, 11/15/2019		1,197		1,197	from Honda Motor Company)
Volkswagen Auto Loan Enhanced Trust 2018-1					2.60%, 03/27/2019(e)		3,000		2,988
2.42%, 07/22/2019		247		247	Daimler Finance North America LLC  (credit
World Omni Auto Receivables Trust 2019-A					support from Daimler AG)
2.73%, 02/18/2020		2,100		2,100	2.48%, 02/21/2019(b),(e)		3,000		2,996
World Omni Select Auto Trust 2018-1					Toyota Financial Services de Puerto Rico
2.78%, 11/15/2019(b)		1,633		1,633	Inc  (credit support from Toyota Financial
		$		13,215	Services)
Diversified Financial Services - 3.46%					2.47%, 02/20/2019(e)		3,000		2,996
Corporate Finance Managers Inc					2.56%, 03/05/2019(e)		4,000		3,991
2.50%, 02/07/2019(c)		1,090		1,090	2.58%, 03/04/2019(e)		3,500		3,492
MetLife Inc							$		16,463
2.89%, 08/16/2019		9,000		9,000	Banks - 22.66%
New York Life					Bank of Nova Scotia/The
2.54%, 07/22/2019		8,000		8,000	2.55%, 02/04/2019(b),(f)		3,600		3,599
		$		18,090	2.70%, 02/19/2019(b),(f)		3,000		2,996
Other Asset Backed Securities - 0.38%					Barclays Bank Plc
CNH Equipment Trust 2019-A					2.72%, 04/29/2019(f)		2,040		2,027
2.75%, 02/28/2020(d)		1,700		1,700	2.73%, 04/26/2019(f)		3,000		2,981
Dell Equipment Finance Trust 2018-1					2.85%, 04/08/2019(f)		3,500		3,482
2.45%, 06/24/2019(b)		300		300	BNP Paribas SA/New York NY
		$		2,000	2.37%, 02/01/2019		9,000		9,000
TOTAL BONDS		$		33,305	CAFCO LLC
		Principal			2.78%, 03/25/2019(b)		3,500		3,486
MUNICIPAL BONDS - 7.09%	Amount (000's)      Value (000's)				2.80%, 03/20/2019(b)		1,150		1,146
California - 0.65%					DBS Bank Ltd
Kern Water Bank Authority  (credit support from					2.50%, 03/04/2019(b),(f)		3,500		3,492
Wells Fargo)					2.78%, 03/20/2019(b),(f)		3,500		3,487
2.45%, 02/07/2019(c),(e)	$	3,408	$	3,408	DNB Bank ASA
Colorado - 2.88%					2.52%, 03/15/2019(b),(f)		3,500		3,490
City of Colorado Springs CO Utilities System					2.63%, 04/17/2019(b),(f)		3,600		3,580
Revenue  (credit support from Mizuho Corp Bank					2.69%, 03/28/2019(b),(f)		3,000		2,988
LTD)					Manhattan Asset Funding Co LLC
2.45%, 02/07/2019(c),(e)		7,000		7,000	2.46%, 03/04/2019(b)		3,000		2,994
Colorado Housing & Finance Authority  (credit					2.47%, 03/01/2019(b)		4,000		3,992
support from Federal Home Loan Bank)					2.61%, 03/08/2019(b)		3,800		3,790
2.55%, 02/07/2019(c),(e)		7,510		7,510	2.63%, 03/12/2019(b)		1,800		1,795
County of Kit Carson CO  (credit support from					Mitsubishi UFJ Trust & Banking Corp/NY
Wells Fargo)					2.61%, 02/20/2019(b)		3,000		2,996
2.40%, 02/07/2019(c),(e)		530		530	Mizuho Bank Ltd/New York NY
		$		15,040	2.54%, 02/01/2019(b)		3,700		3,700
					2.56%, 02/06/2019(b)		490		490
					2.61%, 03/01/2019(b)		4,000		3,992
					2.66%, 04/11/2019(b)		4,070		4,049

See accompanying notes.

172

     Schedule of Investments Money Market Fund January 31, 2019 (unaudited)

		Principal					Principal
COMMERCIAL PAPER (continued)	Amount (000’s)     Value (000’s)				COMMERCIAL PAPER (continued)	Amount (000’s)   Value (000’s)
Banks (continued)					Diversified Financial Services (continued)
MUFG Bank Ltd/New York NY					Intercontinental Exchange Inc
2.54%, 03/27/2019	$	4,000	$	3,985	2.44%, 02/07/2019(b)	$	3,500	$	3,499
Oversea-Chinese Banking Corp Ltd					2.44%, 02/08/2019(b)		5,000		4,998
2.80%, 03/12/2019(b),(f)		1,850		1,844	JP Morgan Securities LLC
Sheffield Receivables Co LLC					2.78%, 03/19/2019		4,000		3,986
2.65%, 02/05/2019(b)		2,500		2,499	2.80%, 05/01/2019		4,000		3,972
2.65%, 04/25/2019(b)		3,000		2,982	Liberty Street Funding LLC
2.80%, 03/07/2019(b)		3,000		2,992	2.65%, 02/12/2019(b)		680		679
2.82%, 03/11/2019(b)		4,000		3,988	2.70%, 02/26/2019(b)		3,000		2,994
Standard Chartered Bank/New York					2.80%, 02/05/2019(b)		4,000		3,999
2.78%, 03/21/2019(b)		3,500		3,487	2.80%, 04/02/2019(b)		4,000		3,981
2.78%, 03/28/2019(b)		2,500		2,489	Longship Funding LLC
2.79%, 03/26/2019(b)		3,000		2,988	2.49%, 02/27/2019(b)		1,200		1,198
Sumitomo Mitsui Banking Corp					2.52%, 02/19/2019(b)		4,000		3,995
2.55%, 02/01/2019(b),(f)		3,000		3,000	National Rural Utilities Cooperative Finance Corp
2.58%, 02/25/2019(b),(f)		800		799	2.50%, 02/06/2019		3,000		2,999
2.62%, 04/22/2019(b),(f)		4,000		3,977	2.52%, 02/11/2019		4,000		3,997
2.65%, 02/08/2019(b),(f)		2,375		2,374	2.57%, 02/04/2019		3,000		2,999
United Overseas Bank Ltd					Nationwide Building Society
2.77%, 03/20/2019(b),(f)		4,000		3,985	2.46%, 02/26/2019(b)		580		579
2.79%, 03/21/2019(b),(f)		3,500		3,487	2.72%, 05/22/2019(b)		3,500		3,471
		$		118,428	2.73%, 02/21/2019(b)		4,000		3,994
Beverages - 2.29%					2.77%, 05/10/2019(b)		3,500		3,474
Brown-Forman Corp					Nieuw Amsterdam Receivables Corp
2.54%, 02/22/2019(b)		3,500		3,495	2.53%, 03/07/2019(b)		3,600		3,591
2.55%, 02/28/2019(b)		3,200		3,194	2.70%, 02/22/2019(b)		3,000		2,995
2.57%, 02/07/2019(b)		3,500		3,499	2.77%, 03/06/2019(b)		4,000		3,990
2.68%, 02/13/2019(b)		1,800		1,798	Ontario Teachers' Finance Trust  (credit support
		$		11,986	from Ontario Teachers Pension Plan Board)
Chemicals - 1.24%					2.48%, 02/15/2019(b),(e)		3,500		3,497
BASF SE					Regency Markets No. 1 LLC
2.50%, 02/04/2019(b)		4,000		3,999	2.50%, 02/15/2019(b)		3,500		3,497
2.63%, 03/26/2019(b)		2,500		2,490	2.55%, 02/06/2019(b)		4,000		3,999
		$		6,489	2.55%, 02/08/2019(b)		3,000		2,998
Consumer Products - 0.17%					Thunder Bay Funding LLC
Kimberly-Clark Corp					2.70%, 02/19/2019(b)		3,000		2,996
2.42%, 02/13/2019(b)		870		869			$		146,288
Diversified Financial Services - 28.00%					Electric - 2.31%
American Express Credit Corp					Engie SA
2.67%, 02/07/2019		4,000		3,998	2.55%, 03/13/2019(b)		4,000		3,989
2.69%, 02/11/2019		3,500		3,497	2.56%, 03/29/2019(b)		3,600		3,586
2.69%, 02/12/2019		3,500		3,497	2.59%, 04/12/2019(b)		4,000		3,980
Anglesea Funding LLC					2.60%, 04/11/2019(b)		500		497
2.60%, 02/01/2019(b)		4,000		4,000			$		12,052
Collateralized Commercial Paper Co LLC					Gas - 2.29%
2.70%, 02/08/2019		3,800		3,798	ONE Gas Inc
2.80%, 03/12/2019		1,060		1,057	2.45%, 02/20/2019(b)		3,000		2,996
Collateralized Commercial Paper II Co LLC					2.46%, 02/04/2019(b)		3,000		3,000
2.75%, 03/22/2019(b)		3,600		3,586	2.47%, 02/21/2019(b)		1,490		1,488
CRC Funding LLC					2.48%, 02/11/2019(b)		1,000		999
2.71%, 03/01/2019(b)		4,000		3,992	2.49%, 02/05/2019(b)		3,500		3,499
2.73%, 03/04/2019(b)		3,500		3,492			$		11,982
DCAT LLC					Healthcare - Services - 1.72%
2.53%, 02/07/2019		3,500		3,498	United Health Group
2.56%, 02/06/2019		3,300		3,299	2.50%, 02/01/2019(b)		9,000		9,000
2.63%, 02/05/2019		870		870	Insurance - 2.86%
2.70%, 02/04/2019		790		790	Nationwide Life Insurance Co
2.75%, 02/25/2019		3,600		3,593	2.47%, 02/28/2019(b)		4,000		3,993
Fairway Finance Co LLC					2.47%, 03/05/2019(b)		3,500		3,492
2.60%, 02/05/2019(b)		1,630		1,629	Prudential PLC
2.70%, 02/11/2019(b)		3,000		2,998	2.62%, 04/09/2019(b)		4,000		3,980
2.70%, 03/14/2019(b)		4,220		4,207	2.65%, 04/05/2019(b)		3,500		3,484
Gotham Funding Corp							$		14,949
2.60%, 02/13/2019(b)		3,500		3,497
2.60%, 03/11/2019(b)		4,000		3,989
2.81%, 03/18/2019(b)		1,240		1,236
2.81%, 03/19/2019(b)		3,400		3,388

See accompanying notes.

173

Schedule of Investments
Money Market Fund
January 31, 2019 (unaudited)
			Principal				Portfolio Summary  (unaudited)
	COMMERCIAL PAPER (continued)	Amount (000’s)          Value (000’s)					Sector	Percent
	Machinery - Construction & Mining - 1.72%						Financial	65.00	%
	Caterpillar Financial Services Corp  (credit						Consumer, Non-cyclical	8.67	%
	support from Caterpillar Inc)						Insured	7.09	%
	2.55%, 04/01/2019(e)	$	3,000	$	2,988		Utilities	4.60	%
	2.60%, 03/05/2019(e)		4,000		3,991		Investment Companies	3.99	%
	2.70%, 02/19/2019(e)		2,000		1,997		Consumer, Cyclical	3.15	%
			$		8,976		Asset Backed Securities	2.91	%
	Machinery - Diversified - 0.57%						Industrial	2.29	%
	John Deere Capital Corp						Basic Materials	1.24	%
	2.55%, 04/09/2019(b)		3,000		2,986		Energy	0.77	%
	Oil & Gas - 0.77%						Communications	0.59	%
	Chevron Corp						Other Assets and Liabilities	(0.30	)%
	2.49%, 02/14/2019(b)		4,000		3,996		TOTAL NET ASSETS	100.00	%
	Pharmaceuticals - 2.92%
	Novartis Finance Corp  (credit support from
	Novartis AG)
	2.47%, 02/11/2019(b),(e)		3,300		3,297
	2.52%, 02/06/2019(b),(e)		3,500		3,499
	2.55%, 02/15/2019(b),(e)		3,000		2,997
	2.55%, 02/20/2019(b),(e)		3,000		2,996
	Sanofi
	2.57%, 03/18/2019(b)		2,500		2,492
			$		15,281
	REITs- 1.89%
	Simon Property Group LP
	2.40%, 02/01/2019(b)		3,400		3,400
	2.54%, 02/22/2019(b)		3,000		2,995
	2.54%, 02/27/2019(b)		3,500		3,494
			$		9,889
	Telecommunications - 0.59%
	Telstra Corp Ltd
	2.78%, 04/15/2019(b)		3,100		3,083
	TOTAL COMMERCIAL PAPER		$		400,907
			Maturity
	REPURCHASE AGREEMENTS - 6.13%	Amount (000's)           Value (000's)
	Banks- 6.13%
	Barclays Capital Inc Repurchase Agreement;	$	16,001	$	16,000
	2.52% dated 01/31/2019 maturing 02/01/2019
	(collateralized by US Government Security;
	$16,320,035; 3.75%; dated 11/15/2043)
	Merrill Lynch Repurchase Agreement; 2.54%		16,001		16,000
	dated 01/31/2019 maturing 02/01/2019
	(collateralized by US Government
	Securities; $16,320,978; 0.00%-2.30%; dated
	03/06/2020-09/15/2055)
			$		32,000
	TOTAL REPURCHASE AGREEMENTS		$		32,000
	Total Investments		$		524,115
	Other Assets and Liabilities -  (0.30)%				(1,552	)
	TOTAL NET ASSETS - 100.00%		$		522,563

(a)	Current yield shown is as of period end.
(b)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities totaled $314,190 or 60.12% of net assets.
(c)	Certain variable rate securities are not based on a published reference rate and spread but 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. Rate shown is the rate in effect as of period end.
(d)	Security purchased on a when-issued basis.
(e)	Credit support indicates investments that benefit from credit enhancement or liquidity support provided by a third party bank, institution, or government agency.
(f)	Security issued by foreign bank and denominated in USD.

See accompanying notes.

174

     Schedule of Investments Overseas Fund January 31, 2019 (unaudited)

COMMON STOCKS - 95.32%	Shares Held      Value (000's)			COMMON STOCKS (continued)	Shares Held     Value (000’s)
Advertising - 0.03%				Banks (continued)
Dentsu Inc	7,000	$	332	Bank of East Asia Ltd/The		81,000	$	273
WPP PLC	50,021		572	Bank of Ireland Group PLC	2,363,816			14,184
	$		904	Bank of Queensland Ltd		25,439		188
Aerospace & Defense - 3.92%				Barclays PLC	21,031,926			43,838
Airbus SE	379,199		43,706	Bendigo & Adelaide Bank Ltd		31,038		244
BAE Systems PLC	140,685		947	BNP Paribas SA	1,150,226			54,205
Cobham PLC (a)	22,858,437		32,362	BOC Hong Kong Holdings Ltd		162,300		627
IHI Corp	3,400		108	CaixaBank SA	3,908,899			14,783
Kawasaki Heavy Industries Ltd	6,000		151	Canadian Imperial Bank of Commerce		141,413		11,990
Meggitt PLC	49,715		337	CIMB Group Holdings Bhd	13,615,200			18,742
Rolls-Royce Holdings PLC (a)	2,792,068		32,453	Commonwealth Bank of Australia		69,764		3,555
	$		110,064	Credit Agricole SA		52,674		602
Agriculture - 3.55%				Credit Suisse Group AG (a)	1,771,792			21,537
British American Tobacco PLC	1,302,748		45,921	Danske Bank A/S		28,415		526
Golden Agri-Resources Ltd	411,200		78	DBS Group Holdings Ltd		27,700		494
Imperial Brands PLC	770,196		25,566	Deutsche Bank AG		77,836		692
Japan Tobacco Inc	1,109,100		28,078	DNB ASA		44,225		785
	$		99,643	Fukuoka Financial Group Inc		9,400		208
Airlines - 0.92%				Hang Seng Bank Ltd		33,700		775
Deutsche Lufthansa AG	15,161		383	HSBC Holdings PLC		914,525		7,701
easyJet PLC	5,088		84	ING Groep NV	1,474,481			17,496
International Consolidated Airlines Group SA	19,261		163	Intesa Sanpaolo SpA		589,904		1,350
Japan Airlines Co Ltd	682,000		24,830	Investec PLC		43,563		280
Singapore Airlines Ltd	34,500		248	KBC Group NV		9,894		672
	$		25,708	Lloyds Banking Group PLC	28,756,020			21,922
				Mediobanca Banca di Credito Finanziario SpA		39,756		346
Apparel - 0.89%				Mitsubishi UFJ Financial Group Inc		520,300		2,791
Gildan Activewear Inc	734,903		24,873	Mizuho Financial Group Inc	1,068,200			1,753
Yue Yuen Industrial Holdings Ltd	47,000		160	National Australia Bank Ltd		108,389		1,882
	$		25,033	Nordea Bank Abp		120,412		1,096
Automobile Manufacturers - 0.56%				Oversea-Chinese Banking Corp Ltd		69,300		594
Bayerische Motoren Werke AG	15,617		1,316	Raiffeisen Bank International AG		9,477		251
Daimler AG	36,049		2,135	Resona Holdings Inc	2,854,800			14,424
Honda Motor Co Ltd	72,100		2,165	Royal Bank of Scotland Group PLC		191,049		606
Isuzu Motors Ltd	23,000		342	Seven Bank Ltd	6,555,200			19,527
Mazda Motor Corp	36,400		403	Skandinaviska Enskilda Banken AB		74,767		785
Mitsubishi Motors Corp	43,000		267	Societe Generale SA		35,258		1,099
Nissan Motor Co Ltd	103,000		880	Standard Chartered PLC		64,514		520
Peugeot SA	13,180		331	Sumitomo Mitsui Financial Group Inc		585,100		21,767
Renault SA	9,067		642	Sumitomo Mitsui Trust Holdings Inc		14,807		561
Subaru Corp	27,100		636	Svenska Handelsbanken AB		60,539		658
Toyota Motor Corp	101,410		6,242	Swedbank AB		41,602		945
Volkswagen AG	2,079		363	UBS Group AG (a)		152,807		1,981
	$		15,722	UniCredit SpA	4,017,205			46,441
Automobile Parts & Equipment - 0.18%				United Overseas Bank Ltd	1,454,100			27,252
Aisin Seiki Co Ltd	10,400		411	Westpac Banking Corp		169,598		3,031
Bridgestone Corp	27,200		1,047			$		419,424
Cie Generale des Etablissements Michelin SCA	8,021		871	Beverages - 0.93%
Continental AG	4,363		689	Coca-Cola European Partners PLC		551,097		26,221
Denso Corp	17,300		796	Building Materials - 0.57%
JTEKT Corp	13,100		170	AGC Inc/Japan		12,000		407
NGK Insulators Ltd	10,800		166	Boral Ltd		75,058		271
Nokian Renkaat OYJ	7,513		250	Cie de Saint-Gobain		21,906		756
Sumitomo Electric Industries Ltd	33,400		476	HeidelbergCement AG		6,196		429
Sumitomo Rubber Industries Ltd	10,900		152	LafargeHolcim Ltd (a)		19,248		905
Yokohama Rubber Co Ltd/The	7,600		161	LIXIL Group Corp		17,100		252
	$		5,189	Sumitomo Osaka Cement Co Ltd		283,710		12,588
Banks - 14.94%				Taiheiyo Cement Corp		7,800		268
ABN AMRO Group NV (b)	19,430		485			$		15,876
Akbank T.A.S.	5,316,056		7,301	Chemicals - 7.48%
Aozora Bank Ltd	7,600		234	Air Liquide SA		175,372		21,290
Arion Banki HF (b)	13,313,345		9,101	Akzo Nobel NV		441,279		37,979
Australia & New Zealand Banking Group Ltd	141,891		2,583	BASF SE		681,420		49,919
Banco Bilbao Vizcaya Argentaria SA	264,330		1,569	Covestro AG (b)		9,282		513
Banco Santander Mexico SA Institucion de Banca	5,167,400		7,707	Daicel Corp		16,800		176
Multiple Grupo Financiero Santand				Givaudan SA		4,872		11,820
Banco Santander SA	747,331		3,544	Hitachi Chemical Co Ltd		4,400		73
Bank Hapoalim BM	68,311		463	Johnson Matthey PLC		311,672		12,451
Bank Leumi Le-Israel BM	69,218		458	JSR Corp		12,300		199

See accompanying notes.

175

Schedule of Investments
Overseas Fund
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held          Value (000’s)				COMMON STOCKS (continued)	Shares Held     Value (000’s)
Chemicals (continued)					Electrical Components & Equipment - 0.04%
Linde PLC		454,878	$	73,776	Brother Industries Ltd	14,300	$	241
Mitsubishi Chemical Holdings Corp		56,500		486	Schneider Electric SE	12,115		862
Mitsubishi Gas Chemical Co Inc		10,300		163		$		1,103
Mitsui Chemicals Inc		11,800		296	Electronics - 0.01%
Sumitomo Chemical Co Ltd		95,400		498	Nippon Electric Glass Co Ltd	5,500		153
Teijin Ltd		11,400		197	Energy - Alternate Sources - 0.00%
Tosoh Corp		16,700		237	Siemens Gamesa Renewable Energy SA (a)	9,920		141
		$		210,073	Engineering & Construction - 0.61%
Commercial Services - 0.50%					ACS Actividades de Construccion y Servicios SA	11,090		459
Adecco Group AG		10,133		508	ACS Actividades de Construccion y Servicios	10,898		6
Atlantia SpA		21,821		516	SA - Rights (a)
Babcock International Group PLC		16,186		113	Auckland International Airport Ltd	40,038		204
China Merchants Port Holdings Co Ltd	4,720,151			9,360	Balfour Beatty PLC	3,411,791		12,274
Dai Nippon Printing Co Ltd		15,600		361	Bouygues SA	14,063		498
Randstad NV		7,630		368	CK Infrastructure Holdings Ltd	42,500		343
RELX PLC		112,091		2,483	Kajima Corp	28,800		410
Toppan Printing Co Ltd		15,600		255	Obayashi Corp	41,500		395
		$		13,964	Shimizu Corp	23,000		196
Computers - 0.02%					Skanska AB	21,776		381
NEC Corp		16,800		565	Vinci SA	22,348		1,966
Consumer Products - 0.01%						$		17,132
Societe BIC SA		1,643		165	Entertainment - 0.00%
Distribution & Wholesale - 1.86%					Sankyo Co Ltd	2,900		112
ITOCHU Corp		63,200		1,159	Food - 0.24%
Marubeni Corp		70,000		546	Aeon Co Ltd	13,800		281
Mitsubishi Corp		60,400		1,770	Aryzta AG (a)	3,141,743		3,536
Mitsui & Co Ltd		74,100		1,211	Carrefour SA	23,466		464
Sumitomo Corp	1,662,700			25,744	Colruyt SA	1,345		97
Toyota Tsusho Corp		13,700		436	ICA Gruppen AB	5,150		181
Travis Perkins PLC	1,329,611			21,371	J Sainsbury PLC	112,709		422
		$		52,237	NH Foods Ltd	5,900		233
Diversified Financial Services - 1.99%					Toyo Suisan Kaisha Ltd	3,000		108
CI Financial Corp		632,400		8,514	Wesfarmers Ltd	24,971		586
Credit Saison Co Ltd		10,100		133	WH Group Ltd (b)	282,500		242
Daiwa Securities Group Inc		103,400		516	Wm Morrison Supermarkets PLC	93,586		288
Mebuki Financial Group Inc		52,800		148	Woolworths Group Ltd	20,246		433
Mitsubishi UFJ Lease & Finance Co Ltd		25,900		132		$		6,871
Nomura Holdings Inc		137,500		537	Food Service - 0.80%
ORIX Corp	1,281,100			19,324	Elior Group SA (b)	1,596,753		22,477
Samsung Securities Co Ltd		362,499		10,943	Gas - 1.25%
Standard Life Aberdeen PLC (a)	4,710,570			15,573	Centrica PLC	249,952		449
		$		55,820	Enagas SA	618,350		18,024
Electric - 4.21%					National Grid PLC	150,549		1,639
AGL Energy Ltd		28,888		451	Osaka Gas Co Ltd	24,000		475
AusNet Services		115,707		139	Snam SpA	2,941,980		14,049
Chubu Electric Power Co Inc		19,400		307	Tokyo Gas Co Ltd	16,800		442
Chugoku Electric Power Co Inc/The		17,800		244		$		35,078
CLP Holdings Ltd		72,000		839	Hand & Machine Tools - 0.01%
EDP - Energias de Portugal SA		163,877		599	Fuji Electric Co Ltd	7,700		238
Electric Power Development Co Ltd		9,400		235	Healthcare - Products - 0.80%
Electricite de France SA		26,671		441	Koninklijke Philips NV	566,903		22,350
Endesa SA		20,336		509
Enel SpA	4,118,409			24,892	Holding Companies - Diversified - 0.11%
Engie SA	1,925,149			30,862	CK Hutchison Holdings Ltd	118,500		1,197
Fortum OYJ		839,576		19,082	Industrivarden AB	10,693		220
Iberdrola SA		279,021		2,306	Jardine Matheson Holdings Ltd	9,686		648
Kansai Electric Power Co Inc/The		31,200		475	Jardine Strategic Holdings Ltd	14,139		542
Meridian Energy Ltd		82,047		200	NWS Holdings Ltd	64,000		146
Power Assets Holdings Ltd		60,500		407	Wharf Holdings Ltd/The	77,000		233
Red Electrica Corp SA		19,175		442		$		2,986
RWE AG		20,539		511	Home Builders - 0.10%
SSE PLC	2,206,622			33,922	Barratt Developments PLC	64,903		459
Terna Rete Elettrica Nazionale SpA		90,082		555	Daiwa House Industry Co Ltd	25,000		811
Tohoku Electric Power Co Inc		27,500		373	Iida Group Holdings Co Ltd	9,400		171
Tokyo Electric Power Co Holdings Inc (a)		63,800		393	Persimmon PLC	14,762		461
		$		118,184	Sekisui House Ltd	27,600		412
					Taylor Wimpey PLC	209,791		455
						$		2,769

See accompanying notes.

176

     Schedule of Investments Overseas Fund January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held  Value (000’s)
Insurance - 6.18%					Machinery - Diversified - 3.86%
Admiral Group PLC		12,894	$	351	Amada Holdings Co Ltd		21,800	$	219
Aegon NV		114,048		588	CNH Industrial NV	1,951,183			19,178
Ageas		11,701		544	FANUC Corp		164,200		27,928
Allianz SE		19,750		4,190	GEA Group AG		753,070		20,747
Assicurazioni Generali SpA		53,928		944	KION Group AG		323,608		18,685
Aviva PLC	5,833,633			31,727	Nabtesco Corp		803,100		21,247
AXA SA		89,064		2,065	Sumitomo Heavy Industries Ltd		7,200		244
Baloise Holding AG		3,126		484	THK Co Ltd		2,800		67
CNP Assurances		10,990		250			$		108,315
Dai-ichi Life Holdings Inc		47,700		775	Media - 0.40%
Direct Line Insurance Group PLC		88,034		389	Informa PLC		55,328		491
Hannover Rueck SE		3,862		557	ITV PLC	5,918,807			10,047
Japan Post Holdings Co Ltd		69,600		856	Pearson PLC		32,505		387
Legal & General Group PLC		273,806		933	ProSiebenSat.1 Media SE		14,918		266
Manulife Financial Corp	2,429,469			39,032	RTL Group SA		2,479		136
Mapfre SA		69,009		192			$		11,327
MS&AD Insurance Group Holdings Inc		19,900		589	Metal Fabrication & Hardware - 0.01%
Muenchener Rueckversicherungs-Gesellschaft		3,436		767	NSK Ltd		23,000		224
AG in Muenchen					Mining - 0.72%
NN Group NV		13,997		591	Alumina Ltd		156,726		279
Poste Italiane SpA (b)		33,450		288	Anglo American PLC		50,828		1,299
Prudential PLC	2,763,872			54,050	BHP Group Ltd		45,415		1,159
Sampo Oyj		20,369		933	BHP Group PLC		453,600		10,135
Societa Cattolica di Assicurazioni SC		318,517		2,939	Glencore PLC (a)		452,334		1,839
Sompo Holdings Inc		604,200		22,781	Mitsubishi Materials Corp		6,800		195
Suncorp Group Ltd		64,119		606	Norsk Hydro ASA		55,966		259
Swiss Life Holding AG (a)		1,575		650	Rio Tinto Ltd		16,350		1,040
Swiss Re AG		14,003		1,343	Rio Tinto PLC		56,618		3,132
T&D Holdings Inc		35,600		442	South32 Ltd		225,486		577
Tokio Marine Holdings Inc		29,900		1,464	Sumitomo Metal Mining Co Ltd		15,000		434
Tryg A/S		5,029		128			$		20,348
Zurich Insurance Group AG		6,954		2,183
		$		173,631	Miscellaneous Manufacturers - 0.86%
					Siemens AG		211,374		23,208
Internet - 1.24%					Smiths Group PLC		8,867		168
Baidu Inc ADR(a)		200,517		34,616	Toshiba Corp		29,100		922
Yahoo Japan Corp		91,100		246			$		24,298
		$		34,862
Investment Companies - 0.06%					Office & Business Equipment - 0.08%
					Canon Inc		43,900		1,263
BGP Holdings PLC (a),(c),(d)		738,711		—	Konica Minolta Inc		29,000		292
EXOR NV		6,944		444	Ricoh Co Ltd		42,900		457
Investor AB		20,925		920	Seiko Epson Corp		18,000		280
Pargesa Holding SA		2,471		195			$		2,292
		$		1,559
Iron & Steel - 0.10%					Oil & Gas - 6.55%
					BP PLC	6,088,020			41,588
ArcelorMittal		32,045		740	Ecopetrol SA ADR	1,520,186			28,656
Fortescue Metals Group Ltd		99,681		412	Encana Corp	4,283,942			29,408
Hitachi Metals Ltd		13,700		154	Eni SpA		140,194		2,377
JFE Holdings Inc		31,400		554	Equinor ASA		46,325		1,059
Kobe Steel Ltd		19,800		159	Idemitsu Kosan Co Ltd		8,800		311
Nippon Steel & Sumitomo Metal Corp		35,500		657	Inpex Corp	1,638,800			15,753
voestalpine AG		7,337		234	JXTG Holdings Inc		143,710		785
		$		2,910	Repsol SA		76,903		1,350
Leisure Products & Services - 0.76%					Royal Dutch Shell PLC - A Shares		182,172		5,647
Carnival PLC		373,190		21,115	Royal Dutch Shell PLC - B Shares	1,430,548			44,416
TUI AG		14,102		213	Showa Shell Sekiyu KK		12,000		179
		$		21,328	SK Innovation Co Ltd		42,478		7,211
Lodging - 0.89%					TOTAL SA		95,059		5,211
Sands China Ltd		106,400		510			$		183,951
SJM Holdings Ltd	23,228,083			24,532	Oil & Gas Services - 1.68%
		$		25,042	CGG SA (a)	5,107,186			9,598
Machinery - Construction & Mining - 2.41%					Oceaneering International Inc (a)	1,239,561			19,449
ABB Ltd	2,264,474			43,343	Schlumberger Ltd		406,164		17,957
Hitachi Ltd		721,560		22,699	WorleyParsons Ltd		20,557		208
Mitsubishi Electric Corp		81,600		1,027			$		47,212
Mitsubishi Heavy Industries Ltd		13,700		530	Pharmaceuticals - 6.92%
		$		67,599	Alfresa Holdings Corp		4,200		116
					AstraZeneca PLC		481,754		34,899
					Bayer AG		36,969		2,802

See accompanying notes.

177

     Schedule of Investments Overseas Fund January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held  Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Pharmaceuticals (continued)					Software - 1.76%
Daiichi Sankyo Co Ltd		20,300	$	704	DeNA Co Ltd	7,200	$	127
GlaxoSmithKline PLC	1,384,218			26,888	Micro Focus International PLC	1,068,099		20,363
Medipal Holdings Corp		11,000		254	SAP SE	279,749		28,928
Mitsubishi Tanabe Pharma Corp		16,200		254		$		49,418
Novartis AG		391,979		34,220	Telecommunications - 6.04%
Otsuka Holdings Co Ltd		12,600		517	BT Group PLC	372,817		1,137
Roche Holding AG		102,330		27,223	China Mobile Ltd	4,324,841		45,486
Sanofi		44,655		3,881	Deutsche Telekom AG	1,077,989		17,529
Suzuken Co Ltd/Aichi Japan		2,500		131	Eutelsat Communications SA	11,177		237
Taisho Pharmaceutical Holdings Co Ltd		1,600		163	HKT Trust & HKT Ltd	243,000		358
Takeda Pharmaceutical Co Ltd	1,523,523			61,510	KDDI Corp	1,333,900		33,327
Teva Pharmaceutical Industries Ltd ADR(a)		38,357		761	Millicom International Cellular SA	2,750		172
		$		194,323	Nippon Telegraph & Telephone Corp	30,700		1,320
Pipelines - 0.92%					Nokia OYJ	223,245		1,410
Koninklijke Vopak NV		506,169		25,723	NTT DOCOMO Inc	58,400		1,403
Private Equity - 0.02%					Orange SA	88,193		1,368
3i Group PLC		44,697		499	PCCW Ltd	272,000		162
Real Estate - 0.26%					Proximus SADP	9,740		262
CK Asset Holdings Ltd		114,000		960	SES SA	23,324		475
Hang Lung Group Ltd		55,000		162	Singapore Telecommunications Ltd	360,900		812
Hang Lung Properties Ltd		129,000		282	SK Telecom Co Ltd	151,868		35,159
Henderson Land Development Co Ltd		84,580		481	Spark New Zealand Ltd	117,511		330
Hongkong Land Holdings Ltd		74,920		539	Swisscom AG	1,146		549
Hysan Development Co Ltd		39,000		203	Telecom Italia SpA/Milano (a)	730,041		406
Kerry Properties Ltd		41,500		172	Telefonica SA	206,570		1,777
Mitsui Fudosan Co Ltd		25,400		617	Telia Co AB	124,420		542
New World Development Co Ltd		391,285		617	Telstra Corp Ltd	266,517		604
Nomura Real Estate Holdings Inc		7,900		153	Vodafone Group PLC	13,517,263		24,653
Sun Hung Kai Properties Ltd		70,383		1,181		$		169,478
Tokyu Fudosan Holdings Corp		38,600		210	Transportation - 2.58%
Vonovia SE		19,512		981	AP Moller - Maersk A/S - A	241		301
Wharf Real Estate Investment Co Ltd		77,000		527	Aurizon Holdings Ltd	127,419		408
Wheelock & Co Ltd		34,000		218	Central Japan Railway Co	6,500		1,405
		$		7,303	ComfortDelGro Corp Ltd	48,400		84
REITs - 0.21%					Deutsche Post AG	842,662		24,889
Ascendas Real Estate Investment Trust		169,200		345	East Japan Railway Co	327,700		30,361
Covivio		2,916		298	Kamigumi Co Ltd	7,000		155
Dexus		65,126		545	Kyushu Railway Co	10,300		352
GPT Group/The		115,559		489	Mitsui OSK Lines Ltd	7,300		182
Klepierre SA		13,082		448	Nippon Yusen KK	9,900		166
Mirvac Group		237,936		417	Royal Mail PLC	57,625		203
Nippon Building Fund Inc		88		569	Seibu Holdings Inc	803,000		13,950
Scentre Group		210,779		611		$		72,456
Stockland		155,867		430	Trucking & Leasing - 0.01%
Unibail-Rodamco-Westfield		6,352		1,142	AerCap Holdings NV (a)	8,079		382
United Urban Investment Corp		189		302	Water - 0.05%
Vicinity Centres		210,700		401	Severn Trent PLC	15,175		399
		$		5,997	Suez	23,870		306
Retail - 2.61%					United Utilities Group PLC	43,657		477
Cie Financiere Richemont SA		375,548		25,886	Veolia Environnement SA	17,133		362
Greene King PLC	2,960,129			23,352		$		1,544
Hennes & Mauritz AB		41,338		643	TOTAL COMMON STOCKS	$		2,676,581
HUGO BOSS AG		301,171		21,594	INVESTMENT COMPANIES - 2.14%	Shares Held   Value (000's)
Isetan Mitsukoshi Holdings Ltd		10,600		109	Money Market Funds - 2.12%
Kingfisher PLC		136,455		399	Principal Government Money Market Fund	59,543,034		59,543
Marks & Spencer Group PLC		104,029		393	2.32%(e),(f)
Next PLC		8,943		569	Principal Exchange-Traded Funds - 0.02%
Swatch Group AG/The - REG		3,577		199	Principal International Multi-Factor Index ETF (e)	4,072		370
Yamada Denki Co Ltd		40,200		198	Principal Shareholder Yield Index ETF (e)	1,097		33
		$		73,342		$		403
Semiconductors - 1.60%					TOTAL INVESTMENT COMPANIES	$		59,946
MediaTek Inc	2,431,697			19,704
Samsung Electronics Co Ltd		603,250		25,152
		$		44,856
Shipbuilding - 0.01%
Yangzijiang Shipbuilding Holdings Ltd		152,800		160

See accompanying notes.

178

     Schedule of Investments Overseas Fund January 31, 2019 (unaudited)

PREFERRED STOCKS - 2.37%		Shares Held                               Value (000's)								Portfolio Summary  (unaudited)
Automobile Manufacturers - 2.37%							Country								Percent
Bayerische Motoren Werke AG 4.02%		3,562	$	263			United Kingdom								25.43	%
Porsche Automobil Holding SE 1.76%		6,071		395			Japan								16.99	%
Volkswagen AG 3.96%		386,780		65,972			Germany								10.28	%
		$		66,630			France								7.36	%
TOTAL PREFERRED STOCKS		$		66,630			Switzerland								6.35	%
Total Investments		$		2,803,157			Netherlands								5.56	%
Other Assets and Liabilities -  0.17%				4,883			United States								4.22	%
TOTAL NET ASSETS - 100.00%		$		2,808,040			Canada								4.06	%
							Italy								3.38	%
							Hong Kong								3.26	%
(a)	Non-income producing security						Korea, Republic Of								2.80	%
(b)	Security exempt from registration under Rule 144A of the Securities Act of						Spain								1.62	%
	1933. These securities may be resold in transactions exempt from registration,						China								1.24	%
	normally to qualified institutional buyers. At the end of the period, the value of						Australia								1.08	%
	these securities totaled $33,106 or 1.18% of net assets.						Singapore								1.06	%
(c)	The value of these investments was determined using significant unobservable						Colombia								1.02	%
	inputs.						Finland								0.81	%
(d)	Fair value of these investments is determined in good faith by the Manager						Taiwan, Province Of China								0.70	%
	under procedures established and periodically reviewed by the Board of						Malaysia								0.67	%
	Directors. Certain inputs used in the valuation may be unobservable; however,						Ireland								0.51	%
	each security is evaluated individually for purposes of ASC 820 which results						Iceland								0.32	%
	in not all securities being identified as Level 3 of the fair value hierarchy. At						Mexico								0.27	%
	the end of the period, the fair value of these securities totaled $0 or 0.00% of						Turkey								0.26	%
	net assets.						Sweden								0.18	%
(e)	Affiliated Security. Security is either an affiliate (and registered under the						Norway								0.08	%
	Investment Company Act of 1940) or an affiliate as defined by the Investment						Israel								0.07	%
	Company Act of 1940 (controls 5.0% or more of the outstanding voting						Luxembourg								0.07	%
	shares of the security). Please see affiliated sub-schedule for transactional						Belgium								0.05	%
	information.						Denmark								0.03	%
(f)	Current yield shown is as of period end.						New Zealand								0.03	%
							Austria								0.02	%
							Macao								0.02	%
							Portugal								0.02	%
							South Africa								0.01	%
							Other Assets and Liabilities								0.17	%
							TOTAL NET ASSETS								100.00	%
Affiliated Securities		October 31, 2018								Purchases		Sales		January 31, 2019
		Value								Cost		Proceeds			Value
Principal Government Money Market Fund 2.32%		$				75,385		$		368,095	$	383,937	$		59,543
Principal International Multi-Factor Index ETF							—			365		—			370
Principal Shareholder Yield Index ETF							—			34		—			33
		$				75,385		$		368,494	$	383,937	$		59,946
				Realized Gain/Loss						Realized Gain from				Change in Unrealized
				Income		on Investments				Capital Gain Distributions					Gain/Loss
Principal Government Money Market Fund 2.32%		$		321	$			— $				— $			—
Principal International Multi-Factor Index ETF				1				—				—			5
Principal Shareholder Yield Index ETF				—				—				—			(1	)
		$		322	$			— $				— $			4
Amounts in thousands
Futures Contracts
Description and Expiration Date		Type				Contracts						Notional Amount		Value and Unrealized Appreciation/(Depreciation)
eMini MSCI EAFE; March 2019		Long					128		$	11,700			$		270
Total													$		270
Amounts in thousands except contracts.

See accompanying notes.

179

Schedule of Investments
Principal Capital Appreciation Fund
January 31, 2019 (unaudited)
COMMON STOCKS - 98.35%	Shares Held    Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Aerospace & Defense - 2.58%					Healthcare - Products - 5.93%
Boeing Co/The		33,574	$	12,947	Abbott Laboratories		224,460	$	16,381
Northrop Grumman Corp		83,112		22,901	Becton Dickinson and Co		83,082		20,726
Teledyne Technologies Inc (a)		38,970		8,738	Edwards Lifesciences Corp (a)		119,318		20,334
		$		44,586	Medtronic PLC		218,556		19,318
Airlines - 1.40%					Thermo Fisher Scientific Inc		86,375		21,220
Alaska Air Group Inc		147,344		9,422	Varian Medical Systems Inc (a)		34,629		4,572
Delta Air Lines Inc		299,448		14,802			$		102,551
		$		24,224	Healthcare - Services - 2.19%
Apparel - 1.38%					UnitedHealth Group Inc		87,761		23,713
Deckers Outdoor Corp (a)		99,013		12,718	Universal Health Services Inc		106,386		14,099
NIKE Inc		137,140		11,229			$		37,812
		$		23,947	Home Builders - 0.90%
Automobile Manufacturers - 0.58%					Thor Industries Inc		237,898		15,492
PACCAR Inc		153,235		10,040	Insurance - 2.73%
Automobile Parts & Equipment - 0.30%					Chubb Ltd		121,785		16,204
Autoliv Inc		65,492		5,230	Fidelity National Financial Inc		532,836		19,267
Banks - 6.57%					Marsh & McLennan Cos Inc		133,396		11,764
East West Bancorp Inc		250,337		12,597			$		47,235
JPMorgan Chase & Co		585,742		60,624	Internet - 8.63%
PNC Financial Services Group Inc/The		191,984		23,551	Alibaba Group Holding Ltd ADR(a)		76,754		12,932
US Bancorp		329,881		16,877	Alphabet Inc - A Shares (a)		38,357		43,186
		$		113,649	Alphabet Inc - C Shares (a)		10,280		11,476
Beverages - 2.48%					Amazon.com Inc (a)		25,211		43,331
Keurig Dr Pepper Inc		563,922		15,350	Booking Holdings Inc (a)		5,636		10,330
PepsiCo Inc		244,957		27,599	Facebook Inc (a)		91,448		15,244
		$		42,949	Palo Alto Networks Inc (a)		59,748		12,835
Biotechnology - 1.64%							$		149,334
Biogen Inc (a)		60,007		20,029	Machinery - Diversified - 0.99%
Gilead Sciences Inc		119,184		8,344	Deere & Co		104,708		17,172
		$		28,373	Media - 2.98%
Chemicals - 2.77%					Comcast Corp - Class A		462,139		16,901
Albemarle Corp		75,659		6,108	Nexstar Media Group Inc		139,622		11,654
DowDuPont Inc		223,341		12,018	Walt Disney Co/The		207,156		23,102
FMC Corp		229,094		18,282			$		51,657
HB Fuller Co		232,890		11,502	Miscellaneous Manufacturers - 0.60%
		$		47,910	3M Co		51,949		10,405
Commercial Services - 1.83%					Oil & Gas - 5.28%
Aaron's Inc		382,080		19,127	Chevron Corp		240,699		27,596
PayPal Holdings Inc (a)		141,675		12,575	Cimarex Energy Co		122,748		9,248
		$		31,702	Royal Dutch Shell PLC - B shares ADR		569,825		35,785
Computers - 3.22%					Valero Energy Corp		214,512		18,838
Apple Inc		334,742		55,714			$		91,467
Consumer Products - 1.30%					Pharmaceuticals - 4.75%
Church & Dwight Co Inc		349,286		22,567	Bristol-Myers Squibb Co		250,327		12,359
Distribution & Wholesale - 1.19%					Johnson & Johnson		187,794		24,992
KAR Auction Services Inc		394,723		20,530	Merck & Co Inc		267,772		19,930
					Pfizer Inc		588,745		24,992
Diversified Financial Services - 4.88%							$		82,273
Ameriprise Financial Inc		135,575		17,164
Charles Schwab Corp/The		378,154		17,686	REITs - 3.99%
Discover Financial Services		434,460		29,322	Alexandria Real Estate Equities Inc		255,399		33,639
Visa Inc		149,913		20,240	American Tower Corp		83,323		14,401
		$		84,412	Simon Property Group Inc		115,429		21,022
							$		69,062
Electric - 3.11%					Retail - 3.42%
NextEra Energy Inc		166,465		29,794
Xcel Energy Inc		457,954		23,978	Chipotle Mexican Grill Inc (a)		13,554		7,178
		$		53,772	Costco Wholesale Corp		65,131		13,979
					Home Depot Inc/The		79,078		14,513
Environmental Control - 0.79%					Lululemon Athletica Inc (a)		116,429		17,210
Waste Connections Inc		164,130		13,715	Starbucks Corp		93,056		6,341
Food - 1.06%							$		59,221
McCormick & Co Inc/MD		90,873		11,236	Semiconductors - 3.14%
Tyson Foods Inc		115,205		7,133	Broadcom Inc		58,460		15,682
		$		18,369	Lam Research Corp		78,916		13,383
Hand & Machine Tools - 0.49%					Microchip Technology Inc		235,323		18,913
Snap-on Inc		51,260		8,509	NVIDIA Corp		44,239		6,359
							$		54,337

See accompanying notes.

180

Schedule of Investments
Principal Capital Appreciation Fund
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held   Value (000’s)					(a)		Non-income producing security
Software - 8.71%						(b)		Affiliated Security. Security is either an affiliate (and registered under the
Adobe Inc (a)		77,075	$	19,101				Investment Company Act of 1940) or an affiliate as defined by the Investment
Black Knight Inc (a)		196,855		9,683				Company Act of 1940 (controls 5.0% or more of the outstanding voting
Fair Isaac Corp (a)		55,995		12,610				shares of the security). Please see affiliated sub-schedule for transactional
Fidelity National Information Services Inc		123,692		12,929				information.
Microsoft Corp		646,367		67,500		(c)		Current yield shown is as of period end.
Omnicell Inc (a)		133,519		8,696
Red Hat Inc (a)		48,694		8,660					Portfolio Summary  (unaudited)
ServiceNow Inc (a)		52,735		11,603					Sector					Percent
		$		150,782		Consumer, Non-cyclical								21.18	%
Telecommunications - 4.44%						Financial								18.17	%
Arista Networks Inc (a)		39,405		8,463		Communications								16.05	%
AT&T Inc		117,018		3,518		Technology								15.07	%
Cisco Systems Inc		634,369		29,999		Consumer, Cyclical								10.23	%
T-Mobile US Inc (a)		249,970		17,403		Industrial								6.49	%
Verizon Communications Inc		318,248		17,523		Energy								5.28	%
		$		76,906		Utilities								3.11	%
Toys, Games & Hobbies - 1.06%						Basic Materials								2.77	%
Hasbro Inc		201,713		18,267		Investment Companies								2.06	%
Transportation - 1.04%						Other Assets and Liabilities								(0.41	)%
Expeditors International of Washington Inc		126,214		8,747		TOTAL NET ASSETS								100.00	%
Union Pacific Corp		58,384		9,287
		$		18,034
TOTAL COMMON STOCKS		$		1,702,205
INVESTMENT COMPANIES - 2.06%	Shares Held   Value (000's)
Money Market Funds - 2.06%
Principal Government Money Market Fund	35,738,196			35,738
2.32%(b),(c)
TOTAL INVESTMENT COMPANIES		$		35,738
Total Investments		$		1,737,943
Other Assets and Liabilities -  (0.41)%				(7,071	)
TOTAL NET ASSETS - 100.00%		$		1,730,872
Affiliated Securities		October 31, 2018						Purchases			Sales		January 31, 2019
		Value							Cost		Proceeds			Value
Principal Government Money Market Fund 2.32%	$			45,435			$		231,698	$	241,395	$		35,738
	$			45,435			$		231,698	$	241,395	$		35,738
				Realized Gain/Loss							Realized Gain from		Change in Unrealized
		Income				on Investments			Capital Gain Distributions					Gain/Loss
Principal Government Money Market Fund 2.32%	$	201	$					— $			— $			—
	$	201	$					— $			— $			—
Amounts in thousands

See accompanying notes.

181

	Schedule of Investments
	Principal LifeTime 2010 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                               Value (000's)
Principal Funds, Inc. Class R-6 - 20.49%
Blue Chip Fund (a)	1,040,644	$	22,946
Diversified Real Asset Fund (a)	1,255,537		13,849
Global Multi-Strategy Fund (a)	4,375,003		45,238
International Small Company Fund (a)	939,936		9,540
LargeCap Growth Fund I (a)	1,611,996		22,778
MidCap Fund (a)	762,801		18,856
MidCap Value Fund III (a)	642,720		11,042
SmallCap Growth Fund I (a)	509,130		6,252
SmallCap Value Fund II (a)	564,089		5,624
	$		156,125
Principal Funds, Inc. Institutional Class - 79.52%
Bond Market Index Fund (a)	6,764,708		72,721
Core Plus Bond Fund (a)	13,519,167		142,627
Diversified International Fund (a)	2,600,910		30,040
Equity Income Fund (a)	598,760		17,777
High Yield Fund I (a)	7,449,354		69,800
Inflation Protection Fund (a)	5,023,042		41,540
LargeCap S&P 500 Index Fund (a)	2,401,414		40,320
LargeCap Value Fund III (a)	1,198,345		18,347
Overseas Fund (a)	3,281,590		30,158
Short-Term Income Fund (a)	11,803,709		142,589
	$		605,919
TOTAL INVESTMENT COMPANIES	$		762,044
Total Investments	$		762,044
Other Assets and Liabilities -  (0.01)%			(100	)
TOTAL NET ASSETS - 100.00%	$		761,944

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Fixed Income Funds	61.59	%
Domestic Equity Funds	21.51	%
International Equity Funds	9.15	%
Specialty Funds	7.76	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

182

Schedule of Investments
Principal LifeTime 2010 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		23,411	$		1,664	$	1,434	$			22,946
Bond Market Index Fund			76,340			2,196		6,510				72,721
Core Plus Bond Fund			149,993			1,940		12,054				142,627
Diversified International Fund			32,365			2,165		2,772				30,040
Diversified Real Asset Fund			15,087			555		1,557				13,849
Equity Income Fund			18,930			1,048		1,433				17,777
Global Multi-Strategy Fund			48,799			3,127		3,706				45,238
High Yield Fund I			74,700			1,443		5,639				69,800
Inflation Protection Fund			43,969			1,434		3,551				41,540
International Small Company Fund			10,432			854		903				9,540
LargeCap Growth Fund I			23,482			2,627		1,432				22,778
LargeCap S&P 500 Index Fund			43,043			2,909		2,865				40,320
LargeCap Value Fund III			19,798			1,899		1,433				18,347
MidCap Fund			19,545			2,048		1,370				18,856
MidCap Value Fund III			11,821			939		996				11,042
Overseas Fund			32,928			2,886		2,772				30,158
Short-Term Income Fund			151,134			1,503		10,994				142,589
SmallCap Growth Fund I			6,624			877		436				6,252
SmallCap Value Fund II			6,099			945		435				5,624
	$		808,500	$		33,059	$	62,292	$			762,044
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
		Income	on Investments					Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$	3 $				192	$			1,586	$	(887	)
Bond Market Index Fund		1,857				16				—		679
Core Plus Bond Fund		1,312				(31	)			—		2,779
Diversified International Fund		582				(305	)			1,438		(1,413	)
Diversified Real Asset Fund		474				87				—		(323	)
Equity Income Fund		256				229				717		(997	)
Global Multi-Strategy Fund		1,923				20				1,011		(3,002	)
High Yield Fund I		1,148				(189	)			—		(515	)
Inflation Protection Fund		1,249				42				—		(354	)
International Small Company Fund		290				9				517		(852	)
LargeCap Growth Fund I		127				308				2,426		(2,207	)
LargeCap S&P 500 Index Fund		833				471				1,927		(3,238	)
LargeCap Value Fund III		532				126				1,291		(2,043	)
MidCap Fund		65				258				1,912		(1,625	)
MidCap Value Fund III		244				3				643		(725	)
Overseas Fund		887				133				1,855		(3,017	)
Short-Term Income Fund		930				(4	)			—		950
SmallCap Growth Fund I		91				80				764		(893	)
SmallCap Value Fund II		168				64				754		(1,049	)
	$	12,971 $			1,509		$			16,841	$	(18,732	)
Amounts in thousands

See accompanying notes.

183

			Schedule of Investments
	Principal LifeTime 2015 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                               Value (000's)
Principal Funds, Inc. Class R-6 - 23.40%
Blue Chip Fund (a)	705,974	$	15,567
Diversified Real Asset Fund (a)	663,545		7,319
Global Multi-Strategy Fund (a)	2,158,939		22,323
International Small Company Fund (a)	672,789		6,829
LargeCap Growth Fund I (a)	1,110,384		15,690
MidCap Fund (a)	522,484		12,916
MidCap Value Fund III (a)	462,059		7,938
SmallCap Growth Fund I (a)	393,730		4,835
SmallCap Value Fund II (a)	425,647		4,243
	$		97,660
Principal Funds, Inc. Institutional Class - 76.61%
Bond Market Index Fund (a)	3,391,463		36,458
Core Plus Bond Fund (a)	6,928,059		73,091
Diversified International Fund (a)	1,808,718		20,891
Equity Income Fund (a)	419,352		12,451
High Yield Fund I (a)	3,770,167		35,327
Inflation Protection Fund (a)	2,486,139		20,560
LargeCap S&P 500 Index Fund (a)	1,624,608		27,277
LargeCap Value Fund III (a)	833,922		12,767
Overseas Fund (a)	2,283,358		20,984
Short-Term Income Fund (a)	4,965,871		59,988
	$		319,794
TOTAL INVESTMENT COMPANIES	$		417,454
Total Investments	$		417,454
Other Assets and Liabilities -  (0.01)%			(49	)
TOTAL NET ASSETS - 100.00%	$		417,405

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Fixed Income Funds	54.00	%
Domestic Equity Funds	27.23	%
International Equity Funds	11.68	%
Specialty Funds	7.10	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

184

Schedule of Investments
Principal LifeTime 2015 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018		Purchases				Sales		January 31, 2019
		Value		Cost				Proceeds				Value
Blue Chip Fund	$	17,370 $				1,217	$	2,401	$			15,567
Bond Market Index Fund		42,785				1,181		7,854				36,458
Core Plus Bond Fund		85,319				1,009		14,691				73,091
Diversified International Fund		25,337				1,656		4,597				20,891
Diversified Real Asset Fund		9,232				325		2,034				7,319
Equity Income Fund		14,728				798		2,401				12,451
Global Multi-Strategy Fund		26,619				1,670		4,313				22,323
High Yield Fund I		41,835				753		6,755				35,327
Inflation Protection Fund		24,191				761		4,192				20,560
International Small Company Fund		8,447				677		1,546				6,829
LargeCap Growth Fund I		17,674				1,953		2,401				15,690
LargeCap S&P 500 Index Fund		32,096				2,132		4,720				27,277
LargeCap Value Fund III		15,271				1,441		2,400				12,767
MidCap Fund		14,795				1,528		2,279				12,916
MidCap Value Fund III		9,577				746		1,710				7,938
Overseas Fund		25,774				2,215		4,599				20,984
Short-Term Income Fund		69,821				629		10,865				59,988
SmallCap Growth Fund I		5,650				739		815				4,835
SmallCap Value Fund II		5,134				785		813				4,243
	$	491,655 $				22,215	$	81,386	$			417,454
				Realized Gain/Loss				Realized Gain from				Change in Unrealized
		Income			on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$	2	$			326	$			1,167	$	(945	)
Bond Market Index Fund		1,028				(61	)			—		407
Core Plus Bond Fund		721				(261	)			—		1,715
Diversified International Fund		450				562				1,116		(2,067	)
Diversified Real Asset Fund		285				(229	)			—		25
Equity Income Fund		197				537				553		(1,211	)
Global Multi-Strategy Fund		1,039				14				547		(1,667	)
High Yield Fund I		621				(311	)			—		(195	)
Inflation Protection Fund		679				(2	)			—		(198	)
International Small Company Fund		233				12				415		(761	)
LargeCap Growth Fund I		94				390				1,812		(1,926	)
LargeCap S&P 500 Index Fund		614		1,483						1,425		(3,714	)
LargeCap Value Fund III		407				139				988		(1,684	)
MidCap Fund		49				325				1,435		(1,453	)
MidCap Value Fund III		196				(25	)			516		(650	)
Overseas Fund		686				(35	)			1,439		(2,371	)
Short-Term Income Fund		416				(9	)			—		412
SmallCap Growth Fund I		77				94				647		(833	)
SmallCap Value Fund II		140				68				629		(931	)
	$	7,934	$	3,017			$			12,689	$	(18,047	)
Amounts in thousands

See accompanying notes.

185

			Schedule of Investments
	Principal LifeTime 2020 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                                Value (000's)
Principal Funds, Inc. Class R-6 - 27.07%
Blue Chip Fund (a)	8,596,038	$	189,543
Diversified Real Asset Fund (a)	6,771,731		74,692
Global Multi-Strategy Fund (a)	18,994,655		196,405
International Small Company Fund (a)	8,449,422		85,761
LargeCap Growth Fund I (a)	13,736,800		194,101
MidCap Fund (a)	6,396,851		158,130
MidCap Value Fund III (a)	5,996,140		103,014
SmallCap Growth Fund I (a)	4,704,893		57,776
SmallCap Value Fund II (a)	5,077,438		50,622
	$		1,110,044
Principal Funds, Inc. Institutional Class - 72.94%
Bond Market Index Fund (a)	30,542,416		328,331
Core Plus Bond Fund (a)	62,059,409		654,727
Diversified International Fund (a)	23,947,978		276,599
Equity Income Fund (a)	5,217,209		154,899
High Yield Fund I (a)	32,353,460		303,152
Inflation Protection Fund (a)	18,677,228		154,461
LargeCap S&P 500 Index Fund (a)	19,859,801		333,446
LargeCap Value Fund III (a)	10,174,246		155,768
Overseas Fund (a)	29,859,955		274,413
Short-Term Income Fund (a)	29,439,684		355,631
	$		2,991,427
TOTAL INVESTMENT COMPANIES	$		4,101,471
Total Investments	$		4,101,471
Other Assets and Liabilities -  (0.01)%			(424	)
TOTAL NET ASSETS - 100.00%	$		4,101,047

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Fixed Income Funds	43.80	%
Domestic Equity Funds	34.08	%
International Equity Funds	15.52	%
Specialty Funds	6.61	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

186

Schedule of Investments
Principal LifeTime 2020 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		195,709	$		13,473	$	13,481	$			189,543
Bond Market Index Fund			349,407			8,755		32,976				328,331
Core Plus Bond Fund			696,760			6,438		61,212				654,727
Diversified International Fund			299,992			19,124		26,052				276,599
Diversified Real Asset Fund			82,549			2,672		9,110				74,692
Equity Income Fund			166,697			8,739		13,481				154,899
Global Multi-Strategy Fund			214,068			13,104		17,489				196,405
High Yield Fund I			328,009			5,203		26,780				303,152
Inflation Protection Fund			165,441			4,820		14,574				154,461
International Small Company Fund			94,340			7,449		8,199				85,761
LargeCap Growth Fund I			202,127			22,241		13,481				194,101
LargeCap S&P 500 Index Fund			360,798			23,478		26,963				333,446
LargeCap Value Fund III			170,188			15,910		13,481				155,768
MidCap Fund			165,671			16,998		12,571				158,130
MidCap Value Fund III			111,245			8,511		9,655				103,014
Overseas Fund			301,954			25,614		26,051				274,413
Short-Term Income Fund			380,809			2,508		30,060				355,631
SmallCap Growth Fund I			61,836			8,083		4,372				57,776
SmallCap Value Fund II			55,625			8,525		4,373				50,622
	$		4,403,225	$		221,645	$	364,361	$			4,101,471
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income		on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		25	$	1,170		$			13,377	$	(7,328	)
Bond Market Index Fund			8,580			103				—		3,042
Core Plus Bond Fund			6,114			(110	)			—		12,851
Diversified International Fund			5,457			143				13,529		(16,608	)
Diversified Real Asset Fund			2,623			114				—		(1,533	)
Equity Income Fund			2,280		1,777					6,387		(8,833	)
Global Multi-Strategy Fund			8,525			53				4,486		(13,331	)
High Yield Fund I			5,062			(924	)			—		(2,356	)
Inflation Protection Fund			4,743			(3	)			—		(1,223	)
International Small Company Fund			2,662			(18	)			4,744		(7,811	)
LargeCap Growth Fund I			1,098		1,757					21,072		(18,543	)
LargeCap S&P 500 Index Fund			7,032			(459	)			16,304		(23,408	)
LargeCap Value Fund III			4,618			652				11,221		(17,501	)
MidCap Fund			555			226				16,376		(12,194	)
MidCap Value Fund III			2,325			(55	)			6,135		(7,032	)
Overseas Fund			8,225			(7	)			17,252		(27,097	)
Short-Term Income Fund			2,349			(12	)			—		2,386
SmallCap Growth Fund I			854			513				7,206		(8,284	)
SmallCap Value Fund II			1,549			(7	)			6,952		(9,148	)
	$		74,676	$	4,913		$	145,041			$	(163,951	)
Amounts in thousands

See accompanying notes.

187

	Schedule of Investments
	Principal LifeTime 2025 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                              Value (000's)
Principal Funds, Inc. Class R-6 - 30.31%
Blue Chip Fund (a)	3,438,776	$	75,825
Diversified Real Asset Fund (a)	2,485,194		27,412
Global Multi-Strategy Fund (a)	6,222,036		64,336
International Small Company Fund (a)	3,492,736		35,451
LargeCap Growth Fund I (a)	6,136,565		86,709
MidCap Fund (a)	2,752,238		68,035
MidCap Value Fund III (a)	2,558,558		43,956
SmallCap Growth Fund I (a)	2,109,025		25,899
SmallCap Value Fund II (a)	2,249,042		22,423
	$		450,046
Principal Funds, Inc. Institutional Class - 69.70%
Bond Market Index Fund (a)	10,177,187		109,405
Core Plus Bond Fund (a)	20,835,190		219,811
Diversified International Fund (a)	10,343,539		119,468
Equity Income Fund (a)	2,235,691		66,378
High Yield Fund I (a)	10,378,863		97,250
Inflation Protection Fund (a)	4,848,616		40,098
LargeCap S&P 500 Index Fund (a)	8,329,667		139,855
LargeCap Value Fund III (a)	4,348,992		66,583
Overseas Fund (a)	12,890,551		118,464
Short-Term Income Fund (a)	4,768,436		57,603
	$		1,034,915
TOTAL INVESTMENT COMPANIES	$		1,484,961
Total Investments	$		1,484,961
Other Assets and Liabilities -  (0.01)%			(139	)
TOTAL NET ASSETS - 100.00%	$		1,484,822

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	40.11	%
Fixed Income Funds	35.30	%
International Equity Funds	18.42	%
Specialty Funds	6.18	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

188

Schedule of Investments
Principal LifeTime 2025 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		78,300	$		5,931	$	5,891	$			75,825
Bond Market Index Fund			115,487			3,870		10,989				109,405
Core Plus Bond Fund			232,015			3,922		20,389				219,811
Diversified International Fund			128,670			9,251		11,320				119,468
Diversified Real Asset Fund			29,983			1,269		3,309				27,412
Equity Income Fund			71,050			4,263		5,892				66,378
Global Multi-Strategy Fund			69,590			4,785		5,693				64,336
High Yield Fund I			104,386			2,402		8,475				97,250
Inflation Protection Fund			42,672			1,588		3,839				40,098
International Small Company Fund			38,755			3,383		3,443				35,451
LargeCap Growth Fund I			89,657			10,435		5,893				86,709
LargeCap S&P 500 Index Fund			150,617			10,868		11,585				139,855
LargeCap Value Fund III			72,375			7,322		5,893				66,583
MidCap Fund			70,906			7,798		5,494				68,035
MidCap Value Fund III			47,242			4,008		4,237				43,956
Overseas Fund			129,458			12,052		11,321				118,464
Short-Term Income Fund			61,167			818		4,766				57,603
SmallCap Growth Fund I			27,577			3,800		1,985				25,899
SmallCap Value Fund II			24,525			3,956		1,987				22,423
	$		1,584,432	$		101,721	$	132,401	$			1,484,961
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income	on Investments				Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		10	$		343	$			5,377	$	(2,858	)
Bond Market Index Fund			2,856			(41	)			—		1,078
Core Plus Bond Fund			2,041			(152	)			—		4,415
Diversified International Fund			2,362			8				5,845		(7,141	)
Diversified Real Asset Fund			964			(273	)			—		(258	)
Equity Income Fund			979			169				2,740		(3,212	)
Global Multi-Strategy Fund			2,792			18				1,468		(4,364	)
High Yield Fund I			1,620			(367	)			—		(696	)
Inflation Protection Fund			1,234			(21	)			—		(302	)
International Small Company Fund			1,103			(24	)			1,963		(3,220	)
LargeCap Growth Fund I			490			(26	)			9,401		(7,464	)
LargeCap S&P 500 Index Fund			2,952			(40	)			6,847		(10,005	)
LargeCap Value Fund III			1,976			180				4,802		(7,401	)
MidCap Fund			239			5				7,052		(5,180	)
MidCap Value Fund III			994			(44	)			2,624		(3,013	)
Overseas Fund			3,557			(13	)			7,451		(11,712	)
Short-Term Income Fund			378			(4	)			—		388
SmallCap Growth Fund I			383			3				3,233		(3,496	)
SmallCap Value Fund II			687			(5	)			3,085		(4,066	)
	$		27,617	$		(284	) $			61,888	$	(68,507	)
Amounts in thousands

See accompanying notes.

189

			Schedule of Investments
	Principal LifeTime 2030 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                                Value (000's)
Principal Funds, Inc. Class R-6 - 35.33%
Blue Chip Fund (a)	7,416,104	$	163,525
Diversified Real Asset Fund (a)	8,962,334		98,855
Global Multi-Strategy Fund (a)	21,163,057		218,826
International Emerging Markets Fund (a)	2,190,368		53,664
International Small Company Fund (a)	14,704,600		149,252
LargeCap Growth Fund I (a)	34,180,440		482,970
MidCap Fund (a)	11,187,782		276,562
MidCap Value Fund III (a)	10,881,900		186,951
Origin Emerging Markets Fund (a)	5,230,563		53,299
SmallCap Growth Fund I (a)	8,227,470		101,033
SmallCap Value Fund II (a)	8,920,103		88,933
	$		1,873,870
Principal Funds, Inc. Institutional Class - 64.68%
Bond Market Index Fund (a)	30,912,502		332,309
Core Plus Bond Fund (a)	64,149,066		676,773
Diversified International Fund (a)	38,663,882		446,568
Equity Income Fund (a)	4,851,650		144,045
High Yield Fund I (a)	30,143,406		282,444
Inflation Protection Fund (a)	13,183,625		109,029
LargeCap S&P 500 Index Fund (a)	35,008,427		587,791
LargeCap Value Fund III (a)	26,697,230		408,735
Overseas Fund (a)	48,206,745		443,020
	$		3,430,714
TOTAL INVESTMENT COMPANIES	$		5,304,584
Total Investments	$		5,304,584
Other Assets and Liabilities -  (0.01)%			(537	)
TOTAL NET ASSETS - 100.00%	$		5,304,047

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	46.02	%
Fixed Income Funds	26.40	%
International Equity Funds	21.60	%
Specialty Funds	5.99	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

190

Schedule of Investments
Principal LifeTime 2030 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		164,220	$		11,774	$	7,562	$			163,525
Bond Market Index Fund			341,292			9,803		21,943				332,309
Core Plus Bond Fund			695,826			8,715		40,773				676,773
Diversified International Fund			466,115			31,351		26,094				446,568
Diversified Real Asset Fund			104,066			3,806		7,413				98,855
Equity Income Fund			149,409			8,295		7,563				144,045
Global Multi-Strategy Fund			230,405			14,858		12,157				218,826
High Yield Fund I			295,157			5,591		15,567				282,444
Inflation Protection Fund			112,693			3,664		6,524				109,029
International Emerging Markets Fund			53,241			1,923		2,966				53,664
International Small Company Fund			157,884			13,041		8,895				149,252
LargeCap Growth Fund I			490,097			55,409		22,537				482,970
LargeCap S&P 500 Index Fund			616,104			41,970		30,394				587,791
LargeCap Value Fund III			431,756			41,831		22,535				408,735
MidCap Fund			280,446			29,693		13,789				276,562
MidCap Value Fund III			194,246			15,558		10,971				186,951
Origin Emerging Markets Fund			53,400			1,069		2,966				53,299
Overseas Fund			469,048			41,504		26,096				443,020
SmallCap Growth Fund I			104,839			14,048		4,894				101,033
SmallCap Value Fund II			94,414			14,824		4,893				88,933
	$		5,504,658	$		368,727	$	296,532	$			5,304,584
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income		on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		21	$		646	$			11,281	$	(5,553	)
Bond Market Index Fund			8,436			16				—		3,141
Core Plus Bond Fund			6,175			56				—		12,949
Diversified International Fund			8,554			(11	)			21,171		(24,793	)
Diversified Real Asset Fund			3,344			(364	)			—		(1,240	)
Equity Income Fund			2,059			219				5,764		(6,315	)
Global Multi-Strategy Fund			9,241			(13	)			4,860		(14,267	)
High Yield Fund I			4,622			(466	)			—		(2,271	)
Inflation Protection Fund			3,258			(10	)			—		(794	)
International Emerging Markets Fund			619			6				1,120		1,460
International Small Company Fund			4,492			8				7,996		(12,786	)
LargeCap Growth Fund I			2,675			(97	)			51,330		(39,902	)
LargeCap S&P 500 Index Fund			12,076			(120	)			28,001		(39,769	)
LargeCap Value Fund III			11,786			(30	)			28,641		(42,287	)
MidCap Fund			946			69				27,888		(19,857	)
MidCap Value Fund III			4,088			(34	)			10,786		(11,848	)
Origin Emerging Markets Fund			884			(57	)			—		1,853
Overseas Fund			12,888			40				26,990		(41,476	)
SmallCap Growth Fund I			1,456			25				12,287		(12,985	)
SmallCap Value Fund II			2,646			5				11,874		(15,417	)
	$	100,266		$		(112	) $	249,989			$	(272,157	)
Amounts in thousands

See accompanying notes.

191

			Schedule of Investments
	Principal LifeTime 2035 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                               Value (000's)
Principal Funds, Inc. Class R-6 - 28.94%
Blue Chip Fund (a)	1,762,128	$	38,855
International Emerging Markets Fund (a)	606,432		14,858
International Small Company Fund (a)	3,449,511		35,013
LargeCap Growth Fund I (a)	8,144,816		115,086
MidCap Value Fund III (a)	2,864,972		49,220
Origin Emerging Markets Fund (a)	1,419,905		14,469
Real Estate Securities Fund (a)	988,135		24,061
SmallCap Growth Fund I (a)	1,912,150		23,481
SmallCap Value Fund II (a)	2,163,821		21,573
	$		336,616
Principal Funds, Inc. Institutional Class - 71.07%
Bond Market Index Fund (a)	6,901,997		74,196
Core Plus Bond Fund (a)	14,500,627		152,982
Diversified International Fund (a)	9,253,365		106,876
Equity Income Fund (a)	1,168,093		34,681
High Yield Fund I (a)	5,609,771		52,564
LargeCap S&P 500 Index Fund (a)	8,437,866		141,672
LargeCap Value Fund III (a)	6,577,680		100,704
MidCap Growth Fund III (a)	5,339,131		56,007
Overseas Fund (a)	11,658,203		107,139
	$		826,821
TOTAL INVESTMENT COMPANIES	$		1,163,437
Total Investments	$		1,163,437
Other Assets and Liabilities -  (0.01)%			(96	)
TOTAL NET ASSETS - 100.00%	$		1,163,341

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	52.03	%
Fixed Income Funds	24.05	%
International Equity Funds	23.93	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

192

Schedule of Investments
Principal LifeTime 2035 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		39,638	$		3,118	$	2,663	$			38,855
Bond Market Index Fund			77,544			2,938		6,990				74,196
Core Plus Bond Fund			159,705			3,303		12,982				152,982
Diversified International Fund			113,893			8,646		9,415				106,876
Equity Income Fund			36,577			2,306		2,663				34,681
High Yield Fund I			55,739			1,466		4,089				52,564
International Emerging Markets Fund			15,031			672		1,235				14,858
International Small Company Fund			37,834			3,453		3,138				35,013
LargeCap Growth Fund I			118,737			14,263		8,036				115,086
LargeCap S&P 500 Index Fund			150,996			11,396		10,746				141,672
LargeCap Value Fund III			108,164			11,309		8,037				100,704
MidCap Growth Fund III			58,666			6,368		4,281				56,007
MidCap Value Fund III			52,196			4,624		4,280				49,220
Origin Emerging Markets Fund			14,810			426		1,236				14,469
Overseas Fund			115,745			11,228		9,415				107,139
Real Estate Securities Fund			24,496			907		2,378				24,061
SmallCap Growth Fund I			24,855			3,516		1,760				23,481
SmallCap Value Fund II			23,343			3,849		1,760				21,573
	$		1,227,969	$		93,788	$	95,104	$			1,163,437
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income		on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		5	$		130	$			2,725	$	(1,368	)
Bond Market Index Fund			1,918			3				—		701
Core Plus Bond Fund			1,410			(26	)			—		2,982
Diversified International Fund			2,096			(1	)			5,176		(6,247	)
Equity Income Fund			505			58				1,412		(1,597	)
High Yield Fund I			870			(17	)			—		(535	)
International Emerging Markets Fund			175			(5	)			316		395
International Small Company Fund			1,078			(15	)			1,917		(3,121	)
LargeCap Growth Fund I			648			507				12,443		(10,385	)
LargeCap S&P 500 Index Fund			2,961			(56	)			6,868		(9,918	)
LargeCap Value Fund III			2,955			(49	)			7,182		(10,683	)
MidCap Growth Fund III			797			27				4,948		(4,773	)
MidCap Value Fund III			1,099			(34	)			2,901		(3,286	)
Origin Emerging Markets Fund			246			(14	)			—		483
Overseas Fund			3,190			3				6,665		(10,422	)
Real Estate Securities Fund			194			(44	)			366		1,080
SmallCap Growth Fund I			345			59				2,914		(3,189	)
SmallCap Value Fund II			655			(6	)			2,938		(3,853	)
	$		21,147	$		520	$			58,771	$	(63,736	)
Amounts in thousands

See accompanying notes.

193

			Schedule of Investments
	Principal LifeTime 2040 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                              Value (000's)
Principal Funds, Inc. Class R-6 - 31.26%
Blue Chip Fund (a)	5,903,190	$	130,165
International Emerging Markets Fund (a)	2,125,297		52,070
International Small Company Fund (a)	11,115,316		112,820
LargeCap Growth Fund I (a)	27,303,126		385,793
MidCap Value Fund III (a)	10,018,513		172,118
Origin Emerging Markets Fund (a)	4,996,923		50,919
Real Estate Securities Fund (a)	3,108,853		75,701
SmallCap Growth Fund I (a)	6,386,984		78,432
SmallCap Value Fund II (a)	7,290,264		72,684
	$		1,130,702
Principal Funds, Inc. Institutional Class - 68.75%
Bond Market Index Fund (a)	15,190,518		163,298
Core Plus Bond Fund (a)	33,421,608		352,598
Diversified International Fund (a)	30,896,482		356,854
Equity Income Fund (a)	3,955,208		117,430
High Yield Fund I (a)	13,849,480		129,770
LargeCap S&P 500 Index Fund (a)	28,366,690		476,277
LargeCap Value Fund III (a)	22,200,132		339,884
MidCap Growth Fund III (a)	18,347,486		192,465
Overseas Fund (a)	38,926,697		357,736
	$		2,486,312
TOTAL INVESTMENT COMPANIES	$		3,617,014
Total Investments	$		3,617,014
Other Assets and Liabilities -  (0.01)%			(411	)
TOTAL NET ASSETS - 100.00%	$		3,616,603

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	56.43	%
International Equity Funds	25.73	%
Fixed Income Funds	17.85	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

194

Schedule of Investments
Principal LifeTime 2040 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		130,467	$		9,629	$	6,007	$			130,165
Bond Market Index Fund			167,494			5,288		11,030				163,298
Core Plus Bond Fund			361,088			5,315		20,583				352,598
Diversified International Fund			371,582			25,941		20,780				356,854
Equity Income Fund			121,423			7,001		6,008				117,430
High Yield Fund I			134,913			2,806		6,698				129,770
International Emerging Markets Fund			51,526			1,982		2,856				52,070
International Small Company Fund			119,051			10,149		6,697				112,820
LargeCap Growth Fund I			390,789			45,076		18,024				385,793
LargeCap S&P 500 Index Fund			497,796			34,990		24,129				476,277
LargeCap Value Fund III			357,641			35,491		18,023				339,884
MidCap Growth Fund III			197,585			20,424		9,848				192,465
MidCap Value Fund III			178,222			14,723		9,848				172,118
Origin Emerging Markets Fund			50,926			1,139		2,856				50,919
Overseas Fund			377,650			34,399		20,780				357,736
Real Estate Securities Fund			75,010			2,227		4,923				75,701
SmallCap Growth Fund I			81,373			11,111		3,939				78,432
SmallCap Value Fund II			76,956			12,293		3,940				72,684
	$		3,741,492	$		279,984	$	196,969	$			3,617,014
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income		on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		17	$		328	$			8,999	$	(4,252	)
Bond Market Index Fund			4,163			6				—		1,540
Core Plus Bond Fund			3,216			(25	)			—		6,803
Diversified International Fund			6,859			37				16,963		(19,926	)
Equity Income Fund			1,682			164				4,706		(5,150	)
High Yield Fund I			2,122			2				—		(1,253	)
International Emerging Markets Fund			602			(38	)			1,089		1,456
International Small Company Fund			3,405			12				6,060		(9,695	)
LargeCap Growth Fund I			2,141		1,580					41,096		(33,628	)
LargeCap S&P 500 Index Fund			9,803			(40	)			22,727		(32,340	)
LargeCap Value Fund III			9,812			23				23,840		(35,248	)
MidCap Growth Fund III			2,694			—				16,726		(15,696	)
MidCap Value Fund III			3,771			(3	)			9,948		(10,976	)
Origin Emerging Markets Fund			848			(109	)			—		1,819
Overseas Fund			10,437			(56	)			21,842		(33,477	)
Real Estate Securities Fund			598			(87	)			1,127		3,474
SmallCap Growth Fund I			1,135			197				9,574		(10,310	)
SmallCap Value Fund II			2,167			(18	)			9,724		(12,607	)
	$		65,472	$	1,973		$	194,421			$	(209,466	)
Amounts in thousands

See accompanying notes.

195

			Schedule of Investments
	Principal LifeTime 2045 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                               Value (000's)
Principal Funds, Inc. Class R-6 - 33.01%
Blue Chip Fund (a)	1,423,361	$	31,385
International Emerging Markets Fund (a)	522,776		12,808
International Small Company Fund (a)	2,600,142		26,391
LargeCap Growth Fund I (a)	6,644,878		93,892
MidCap Value Fund III (a)	2,484,818		42,689
Origin Emerging Markets Fund (a)	1,228,930		12,523
Real Estate Securities Fund (a)	718,993		17,507
SmallCap Growth Fund I (a)	1,610,954		19,783
SmallCap Value Fund II (a)	1,806,211		18,008
	$		274,986
Principal Funds, Inc. Institutional Class - 67.00%
Bond Market Index Fund (a)	2,453,195		26,372
Core Plus Bond Fund (a)	5,628,301		59,379
Diversified International Fund (a)	7,619,282		88,003
Equity Income Fund (a)	958,054		28,445
High Yield Fund I (a)	2,263,189		21,206
LargeCap S&P 500 Index Fund (a)	6,879,576		115,508
LargeCap Value Fund III (a)	5,437,241		83,244
MidCap Growth Fund III (a)	4,558,269		47,816
Overseas Fund (a)	9,595,595		88,183
	$		558,156
TOTAL INVESTMENT COMPANIES	$		833,142
Total Investments	$		833,142
Other Assets and Liabilities -  (0.01)%			(73	)
TOTAL NET ASSETS - 100.00%	$		833,069

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	59.81	%
International Equity Funds	27.35	%
Fixed Income Funds	12.85	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

196

Schedule of Investments
Principal LifeTime 2045 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		31,586	$		2,608	$	1,834	$			31,385
Bond Market Index Fund			27,338			1,248		2,464				26,372
Core Plus Bond Fund			61,199			1,592		4,555				59,379
Diversified International Fund			92,073			7,403		6,447				88,003
Equity Income Fund			29,536			1,979		1,833				28,445
High Yield Fund I			22,131			665		1,376				21,206
International Emerging Markets Fund			12,733			623		887				12,808
International Small Company Fund			27,995			2,686		1,977				26,391
LargeCap Growth Fund I			95,519			11,864		5,560				93,892
LargeCap S&P 500 Index Fund			121,299			9,655		7,450				115,508
LargeCap Value Fund III			87,968			9,572		5,560				83,244
MidCap Growth Fund III			49,297			5,559		3,065				47,816
MidCap Value Fund III			44,425			4,132		3,066				42,689
Origin Emerging Markets Fund			12,586			415		888				12,523
Overseas Fund			93,545			9,502		6,448				88,183
Real Estate Securities Fund			17,451			732		1,433				17,507
SmallCap Growth Fund I			20,604			3,000		1,232				19,783
SmallCap Value Fund II			19,161			3,250		1,231				18,008
	$		866,446	$		76,485	$	57,306	$			833,142
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income		on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		4	$		63	$			2,182	$	(1,038	)
Bond Market Index Fund			681			1				—		249
Core Plus Bond Fund			544			(5	)			—		1,148
Diversified International Fund			1,708			(3	)			4,211		(5,023	)
Equity Income Fund			410			14				1,147		(1,251	)
High Yield Fund I			348			(2	)			—		(212	)
International Emerging Markets Fund			149			(3	)			270		342
International Small Company Fund			804			(8	)			1,428		(2,305	)
LargeCap Growth Fund I			524			166				10,060		(8,097	)
LargeCap S&P 500 Index Fund			2,394			(26	)			5,547		(7,970	)
LargeCap Value Fund III			2,419			(1	)			5,874		(8,735	)
MidCap Growth Fund III			673			1				4,180		(3,976	)
MidCap Value Fund III			942			(21	)			2,484		(2,781	)
Origin Emerging Markets Fund			211			(14	)			—		424
Overseas Fund			2,597			9				5,421		(8,425	)
Real Estate Securities Fund			140			(27	)			263		784
SmallCap Growth Fund I			288			4				2,428		(2,593	)
SmallCap Value Fund II			541			(4	)			2,425		(3,168	)
	$		15,377	$		144	$			47,920	$	(52,627	)
Amounts in thousands

See accompanying notes.

197

			Schedule of Investments
	Principal LifeTime 2050 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                                Value (000's)
Principal Funds, Inc. Class R-6 - 34.52%
Blue Chip Fund (a)	3,786,863	$	83,500
International Emerging Markets Fund (a)	1,419,997		34,790
International Small Company Fund (a)	7,116,055		72,228
LargeCap Growth Fund I (a)	17,676,950		249,775
MidCap Value Fund III (a)	6,557,424		112,657
Origin Emerging Markets Fund (a)	3,340,896		34,044
Real Estate Securities Fund (a)	1,850,296		45,055
SmallCap Growth Fund I (a)	4,289,509		52,675
SmallCap Value Fund II (a)	4,946,989		49,321
	$		734,045
Principal Funds, Inc. Institutional Class - 65.49%
Bond Market Index Fund (a)	3,800,056		40,851
Core Plus Bond Fund (a)	9,908,523		104,535
Diversified International Fund (a)	20,161,890		232,870
Equity Income Fund (a)	2,561,646		76,055
High Yield Fund I (a)	4,942,796		46,314
LargeCap S&P 500 Index Fund (a)	18,368,898		308,414
LargeCap Value Fund III (a)	14,549,024		222,745
MidCap Growth Fund III (a)	12,176,347		127,730
Overseas Fund (a)	25,394,778		233,378
	$		1,392,892
TOTAL INVESTMENT COMPANIES	$		2,126,937
Total Investments	$		2,126,937
Other Assets and Liabilities -  (0.01)%			(187	)
TOTAL NET ASSETS - 100.00%	$		2,126,750

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	62.45	%
International Equity Funds	28.55	%
Fixed Income Funds	9.01	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

198

Schedule of Investments
Principal LifeTime 2050 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		82,932	$		6,533	$	3,521	$			83,500
Bond Market Index Fund			41,945			1,776		3,257				40,851
Core Plus Bond Fund			106,345			2,332		6,148				104,535
Diversified International Fund			239,661			18,158		12,242				232,870
Equity Income Fund			77,840			4,895		3,520				76,055
High Yield Fund I			47,662			1,238		2,154				46,314
International Emerging Markets Fund			34,052			1,510		1,734				34,790
International Small Company Fund			75,318			6,878		3,887				72,228
LargeCap Growth Fund I			250,676			30,184		10,668				249,775
LargeCap S&P 500 Index Fund			319,208			24,114		14,291				308,414
LargeCap Value Fund III			231,913			24,266		10,666				222,745
MidCap Growth Fund III			129,684			14,084		5,833				127,730
MidCap Value Fund III			115,289			10,206		5,831				112,657
Origin Emerging Markets Fund			33,666			952		1,733				34,044
Overseas Fund			243,522			23,623		12,242				233,378
Real Estate Securities Fund			44,027			1,606		2,627				45,055
SmallCap Growth Fund I			54,056			7,660		2,365				52,675
SmallCap Value Fund II			51,604			8,523		2,365				49,321
	$		2,179,400	$		188,538	$	105,084	$			2,126,937
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income	on Investments				Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		11	$		171	$			5,731	$	(2,615	)
Bond Market Index Fund			1,044			(63	)			—		450
Core Plus Bond Fund			951			(3	)			—		2,009
Diversified International Fund			4,442			(36	)			10,966		(12,671	)
Equity Income Fund			1,081			84				3,023		(3,244	)
High Yield Fund I			754			5				—		(437	)
International Emerging Markets Fund			399			(14	)			721		976
International Small Company Fund			2,162			25				3,843		(6,106	)
LargeCap Growth Fund I			1,377			728				26,411		(21,145	)
LargeCap S&P 500 Index Fund			6,302			103				14,602		(20,720	)
LargeCap Value Fund III			6,378			41				15,492		(22,809	)
MidCap Growth Fund III			1,772			(2	)			11,002		(10,203	)
MidCap Value Fund III			2,446			4				6,450		(7,011	)
Origin Emerging Markets Fund			563			(54	)			—		1,213
Overseas Fund			6,756			15				14,117		(21,540	)
Real Estate Securities Fund			352			(29	)			663		2,078
SmallCap Growth Fund I			755			9				6,374		(6,685	)
SmallCap Value Fund II			1,457			(12	)			6,535		(8,429	)
	$		39,002	$		972	$	125,930			$	(136,889	)
Amounts in thousands

See accompanying notes.

199

			Schedule of Investments
	Principal LifeTime 2055 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.01%	Shares Held                                Value (000's)
Principal Funds, Inc. Class R-6 - 35.69%
Blue Chip Fund (a)	740,313	$	16,324
International Emerging Markets Fund (a)	282,240		6,915
International Small Company Fund (a)	1,360,419		13,808
LargeCap Growth Fund I (a)	3,401,898		48,069
MidCap Value Fund III (a)	1,297,667		22,294
Origin Emerging Markets Fund (a)	664,795		6,774
Real Estate Securities Fund (a)	350,705		8,540
SmallCap Growth Fund I (a)	856,196		10,514
SmallCap Value Fund II (a)	971,945		9,690
	$		142,928
Principal Funds, Inc. Institutional Class - 64.32%
Bond Market Index Fund (a)	337,046		3,623
Core Plus Bond Fund (a)	1,151,816		12,152
Diversified International Fund (a)	3,932,434		45,420
Equity Income Fund (a)	503,721		14,955
High Yield Fund I (a)	908,869		8,516
LargeCap S&P 500 Index Fund (a)	3,535,532		59,361
LargeCap Value Fund III (a)	2,810,821		43,034
MidCap Growth Fund III (a)	2,389,326		25,064
Overseas Fund (a)	4,950,710		45,497
	$		257,622
TOTAL INVESTMENT COMPANIES	$		400,550
Total Investments	$		400,550
Other Assets and Liabilities -  (0.01)%			(32	)
TOTAL NET ASSETS - 100.00%	$		400,518

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	64.38	%
International Equity Funds	29.57	%
Fixed Income Funds	6.06	%
Other Assets and Liabilities	(0.01	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

200

Schedule of Investments
Principal LifeTime 2055 Fund
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018				Purchases		Sales		January 31, 2019
		Value				Cost		Proceeds				Value
Blue Chip Fund	$			15,926	$	1,590	$	724	$			16,324
Bond Market Index Fund				3,648		386		444				3,623
Core Plus Bond Fund				12,100		669		849				12,152
Diversified International Fund				45,731		4,610		2,485				45,420
Equity Income Fund				15,015		1,277		725				14,955
High Yield Fund I				8,598		411		414				8,516
International Emerging Markets Fund				6,627		460		363				6,915
International Small Company Fund				14,079		1,646		776				13,808
LargeCap Growth Fund I				47,379		6,715		2,154				48,069
LargeCap S&P 500 Index Fund				60,263		5,879		2,879				59,361
LargeCap Value Fund III				43,925		5,598		2,153				43,034
MidCap Growth Fund III				24,963		3,272		1,202				25,064
MidCap Value Fund III				22,327		2,532		1,201				22,294
Origin Emerging Markets Fund				6,556		350		362				6,774
Overseas Fund				46,455		5,662		2,486				45,497
Real Estate Securities Fund				8,144		532		518				8,540
SmallCap Growth Fund I				10,585		1,729		487				10,514
SmallCap Value Fund II				9,941		1,874		486				9,690
	$	402,262			$	45,192	$	20,708	$			400,550
						Realized Gain/Loss				Realized Gain from		Change in Unrealized
		Income				on Investments		Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$	2	$			6	$			1,109	$	(474	)
Bond Market Index Fund		92				(5	)			—		38
Core Plus Bond Fund		109				(6	)			—		238
Diversified International Fund		857				(1	)			2,112		(2,435	)
Equity Income Fund		211				—				588		(612	)
High Yield Fund I		137				—				—		(79	)
International Emerging Markets Fund		79				1				142		190
International Small Company Fund		409				(1	)			725		(1,140	)
LargeCap Growth Fund I		262				2				5,031		(3,873	)
LargeCap S&P 500 Index Fund		1,200				10				2,780		(3,912	)
LargeCap Value Fund III		1,218				11				2,959		(4,347	)
MidCap Growth Fund III		344				1				2,136		(1,970	)
MidCap Value Fund III		478				(2	)			1,261		(1,362	)
Origin Emerging Markets Fund		111				—				—		230
Overseas Fund		1,303				9				2,718		(4,143	)
Real Estate Securities Fund		66				(4	)			124		386
SmallCap Growth Fund I		149				1				1,258		(1,314	)
SmallCap Value Fund II		283				(2	)			1,270		(1,637	)
	$	7,310	$			20	$			24,213	$	(26,216	)
Amounts in thousands

See accompanying notes.

201

			Schedule of Investments
	Principal LifeTime 2060 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.00%	Shares Held                                 Value (000's)
Principal Funds, Inc. Class R-6 - 36.28%
Blue Chip Fund (a)	545,970	$	12,039
International Emerging Markets Fund (a)	226,706		5,554
International Small Company Fund (a)	1,012,527		10,277
LargeCap Growth Fund I (a)	2,539,236		35,880
MidCap Value Fund III (a)	983,186		16,891
Origin Emerging Markets Fund (a)	536,198		5,464
Real Estate Securities Fund (a)	264,237		6,434
SmallCap Growth Fund I (a)	643,598		7,903
SmallCap Value Fund II (a)	733,988		7,318
	$		107,760
Principal Funds, Inc. Institutional Class - 63.72%
Bond Market Index Fund (a)	149,451		1,607
Core Plus Bond Fund (a)	581,157		6,131
Diversified International Fund (a)	2,978,653		34,403
Equity Income Fund (a)	372,263		11,052
High Yield Fund I (a)	671,865		6,295
LargeCap S&P 500 Index Fund (a)	2,647,835		44,457
LargeCap Value Fund III (a)	2,099,379		32,142
MidCap Growth Fund III (a)	1,781,200		18,685
Overseas Fund (a)	3,748,053		34,445
	$		189,217
TOTAL INVESTMENT COMPANIES	$		296,977
Total Investments	$		296,977
Other Assets and Liabilities -  0.00%			(14	)
TOTAL NET ASSETS - 100.00%	$		296,963

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	64.91	%
International Equity Funds	30.36	%
Fixed Income Funds	4.73	%
Other Assets and Liabilities	0.00	%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

202

Schedule of Investments
Principal LifeTime 2060 Fund
January 31, 2019 (unaudited)
Affiliated Securities				October 31, 2018		Purchases		Sales		January 31, 2019
				Value		Cost		Proceeds				Value
Blue Chip Fund	$			11,392	$	1,374	$	406	$			12,039
Bond Market Index Fund				1,472		323		202				1,607
Core Plus Bond Fund				5,816		565		365				6,131
Diversified International Fund				33,381		4,188		1,417				34,403
Equity Income Fund				10,743		1,148		408				11,052
High Yield Fund I				6,154		425		232				6,295
International Emerging Markets Fund				5,136		482		220				5,554
International Small Company Fund				10,083		1,436		436				10,277
LargeCap Growth Fund I				34,289		5,590		1,218				35,880
LargeCap S&P 500 Index Fund				43,682		5,216		1,637				44,457
LargeCap Value Fund III				31,734		4,769		1,219				32,142
MidCap Growth Fund III				18,004		2,765		678				18,685
MidCap Value Fund III				16,301		2,248		684				16,891
Origin Emerging Markets Fund				5,098		396		221				5,464
Overseas Fund				33,901		4,968		1,416				34,445
Real Estate Securities Fund				5,883		546		290				6,434
SmallCap Growth Fund I				7,703		1,429		280				7,903
SmallCap Value Fund II				7,255		1,540		279				7,318
	$	288,027			$	39,408	$	11,608	$			296,977
						Realized Gain/Loss				Realized Gain from		Change in Unrealized
		Income				on Investments		Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$	2	$			1	$			805	$	(322	)
Bond Market Index Fund		39				—				—		14
Core Plus Bond Fund		54				—				—		115
Diversified International Fund		639				(1	)			1,568		(1,748	)
Equity Income Fund		153				—				427		(431	)
High Yield Fund I		100				—				—		(52	)
International Emerging Markets Fund		62				—				112		156
International Small Company Fund		298				2				529		(808	)
LargeCap Growth Fund I		192				—				3,693		(2,781	)
LargeCap S&P 500 Index Fund		882				(1	)			2,045		(2,803	)
LargeCap Value Fund III		894				—				2,170		(3,142	)
MidCap Growth Fund III		252				—				1,564		(1,406	)
MidCap Value Fund III		355				2				936		(976	)
Origin Emerging Markets Fund		88				—				—		191
Overseas Fund		970				2				2,017		(3,010	)
Real Estate Securities Fund		49				(1	)			91		296
SmallCap Growth Fund I		110				1				929		(950	)
SmallCap Value Fund II		210				—				941		(1,198	)
	$	5,349	$			5	$			17,827	$	(18,855	)
Amounts in thousands

See accompanying notes.

203

			Schedule of Investments
	Principal LifeTime 2065 Fund
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.08%	Shares Held                                  Value (000's)
Principal Funds, Inc. Class R-6 - 36.04%
Blue Chip Fund (a)	19,430	$	428
International Emerging Markets Fund (a)	8,436		207
International Small Company Fund (a)	38,150		387
LargeCap Growth Fund I (a)	91,255		1,290
MidCap Value Fund III (a)	36,321		624
Origin Emerging Markets Fund (a)	20,003		204
Real Estate Securities Fund (a)	10,446		254
SmallCap Growth Fund I (a)	23,049		283
SmallCap Value Fund II (a)	26,680		266
	$		3,943
Principal Funds, Inc. Institutional Class - 64.04%
Bond Market Index Fund (a)	7,786		84
Core Plus Bond Fund (a)	22,320		235
Diversified International Fund (a)	111,893		1,292
Equity Income Fund (a)	13,477		400
High Yield Fund I (a)	24,377		228
LargeCap S&P 500 Index Fund (a)	96,285		1,617
LargeCap Value Fund III (a)	77,081		1,180
MidCap Growth Fund III (a)	64,905		681
Overseas Fund (a)	140,326		1,290
	$		7,007
TOTAL INVESTMENT COMPANIES	$		10,950
Total Investments	$		10,950
Other Assets and Liabilities -  (0.08)%			(9	)
TOTAL NET ASSETS - 100.00%	$		10,941

(a)      Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	64.18	%
International Equity Funds	30.90	%
Fixed Income Funds	5.00	%
Other Assets and Liabilities	(0.08	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

204

Schedule of Investments
Principal LifeTime 2065 Fund
January 31, 2019 (unaudited)
Affiliated Securities				October 31, 2018		Purchases		Sales		January 31, 2019
				Value		Cost		Proceeds		Value
Blue Chip Fund	$			377	$	113	$	53	$		428
Bond Market Index Fund				66		41		24			84
Core Plus Bond Fund				202		73		44			235
Diversified International Fund				1,153		380		186			1,292
Equity Income Fund				360		106		53			400
High Yield Fund I				207		53		30			228
International Emerging Markets Fund				176		53		28			207
International Small Company Fund				348		122		57			387
LargeCap Growth Fund I				1,143		393		160			1,290
LargeCap S&P 500 Index Fund				1,468		450		215			1,617
LargeCap Value Fund III				1,076		367		160			1,180
MidCap Growth Fund III				606		208		89			681
MidCap Value Fund III				553		189		88			624
Origin Emerging Markets Fund				175		50		29			204
Overseas Fund				1,168		408		186			1,290
Real Estate Securities Fund				213		67		38			254
SmallCap Growth Fund I				255		94		36			283
SmallCap Value Fund II				243		98		36			266
	$			9,789	$	3,265	$	1,512	$		10,950
				Realized Gain/Loss				Realized Gain from		Change in Unrealized
		Income		on Investments				Capital Gain Distributions		Gain/Loss
Blue Chip Fund	$	— $				— $		27	$		(9	)
Bond Market Index Fund		2				—		—			1
Core Plus Bond Fund		2				—		—			4
Diversified International Fund		23				1		55			(56	)
Equity Income Fund		5				—		14			(13	)
High Yield Fund I		4				—		—			(2	)
International Emerging Markets Fund		2				—		4			6
International Small Company Fund		11				—		19			(26	)
LargeCap Growth Fund I		6				—		125			(86	)
LargeCap S&P 500 Index Fund		30				1		70			(87	)
LargeCap Value Fund III		31				—		75			(103	)
MidCap Growth Fund III		9				—		53			(44	)
MidCap Value Fund III		12				—		32			(30	)
Origin Emerging Markets Fund		3				—		—			8
Overseas Fund		35				—		71			(100	)
Real Estate Securities Fund		2				—		3			12
SmallCap Growth Fund I		4				—		31			(30	)
SmallCap Value Fund II		7				—		32			(39	)
	$	188	$			2	$	611	$		(594	)
Amounts in thousands

See accompanying notes.

205

     Schedule of Investments Principal LifeTime Hybrid 2015 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.00%	Shares Held           Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 11.21%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Diversified Real Asset Fund (a)	183,825	$	2,027				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Small Company Fund (a)	167,304		1,698				shares of the security). Please see affiliated sub-schedule for transactional
MidCap S&P 400 Index Fund (a)	248,547		4,673				information.
SmallCap S&P 600 Index Fund (a)	82,509		1,977
	$		10,375					Portfolio Summary  (unaudited)
Principal Funds, Inc. Institutional Class - 88.79%					Fund Type									Percent
Bond Market Index Fund (a)	2,722,861		29,271		Fixed Income Funds									58.89	%
Diversified International Fund (a)	874,556		10,101		Domestic Equity Funds									26.18	%
High Yield Fund I (a)	826,369		7,743		International Equity Funds									12.74	%
Inflation Protection Fund (a)	555,507		4,594		Specialty Funds									2.19	%
LargeCap S&P 500 Index Fund (a)	1,046,830		17,576		Other Assets and Liabilities									0.00	%
Short-Term Income Fund (a)	1,067,006		12,890		TOTAL NET ASSETS							100.00			%
	$		82,175
TOTAL INVESTMENT COMPANIES	$		92,550
Total Investments	$		92,550
Other Assets and Liabilities -  0.00%			(4	)
TOTAL NET ASSETS - 100.00%	$		92,546
Affiliated Securities	October 31, 2018						Purchases			Sales		January 31, 2019
	Value						Cost			Proceeds		Value
Bond Market Index Fund	$		15,735			$		16,808	$	3,615	$			29,271
Diversified International Fund			5,238					5,919		1,238				10,101
Diversified Real Asset Fund					963			1,273		275				2,027
High Yield Fund I			4,322					4,228		909				7,743
Inflation Protection Fund			2,499					2,633		565				4,594
International Small Company Fund					876			1,006		208				1,698
LargeCap S&P 500 Index Fund			10,017					9,351		1,927				17,576
MidCap S&P 400 Index Fund			2,493					2,645		537				4,673
Short-Term Income Fund			7,549					6,725		1,462				12,890
SmallCap S&P 600 Index Fund			1,115					1,103		219				1,977
	$		50,807			$		51,691	$	10,955	$			92,550
			Realized Gain/Loss									Realized Gain from	Change in Unrealized
			Income		on Investments							Capital Gain Distributions		Gain/Loss
Bond Market Index Fund	$		327	$				3	$			— $		340
Diversified International Fund			79					5				197		177
Diversified Real Asset Fund			25					(2	)			—		68
High Yield Fund I			83					(23	)			—		125
Inflation Protection Fund			61					(1	)			—		28
International Small Company Fund			20					(2	)			36		26
LargeCap S&P 500 Index Fund			169					(9	)			392		144
MidCap S&P 400 Index Fund			41					3				157		69
Short-Term Income Fund			58					(3	)			—		81
SmallCap S&P 600 Index Fund			16					2				88		(24	)
	$		879	$				(27	) $			870$		1,034
Amounts in thousands

See accompanying notes.

206

     Schedule of Investments Principal LifeTime Hybrid 2020 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.00%	Shares Held      Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 13.21%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Diversified Real Asset Fund (a)	561,918	$	6,198				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Small Company Fund (a)	605,534		6,146				shares of the security). Please see affiliated sub-schedule for transactional
MidCap S&P 400 Index Fund (a)	931,214		17,507				information.
Real Estate Securities Fund (a)	2		—
SmallCap S&P 600 Index Fund (a)	294,777		7,063					Portfolio Summary  (unaudited)
	$		36,914		Fund Type									Percent
Principal Funds, Inc. Institutional Class - 86.79%					Fixed Income Funds									49.28	%
Bond Market Index Fund (a)	7,615,608		81,868		Domestic Equity Funds									32.42	%
Diversified International Fund (a)	3,359,516		38,802		International Equity Funds									16.08	%
High Yield Fund I (a)	2,211,127		20,718		Specialty Funds									2.22	%
Inflation Protection Fund (a)	1,301,494		10,763		Other Assets and Liabilities									0.00	%
LargeCap S&P 500 Index Fund (a)	3,932,465		66,026		TOTAL NET ASSETS									100.00	%
Short-Term Income Fund (a)	2,016,520		24,360
	$		242,537
TOTAL INVESTMENT COMPANIES	$		279,451
Total Investments	$		279,451
Other Assets and Liabilities -  0.00%			(11	)
TOTAL NET ASSETS - 100.00%	$		279,440
Affiliated Securities	October 31, 2018						Purchases			Sales		January 31, 2019
	Value						Cost			Proceeds				Value
Bond Market Index Fund	$		41,003			$		48,276	$	8,282	$			81,868
Diversified International Fund			18,729					23,146		3,864				38,802
Diversified Real Asset Fund			2,730					3,939		675				6,198
High Yield Fund I			10,835					11,581		1,987				20,718
Inflation Protection Fund			5,462					6,323		1,082				10,763
International Small Company Fund			2,970					3,682		609				6,146
LargeCap S&P 500 Index Fund			35,050					36,360		5,999				66,026
MidCap S&P 400 Index Fund			8,690					10,151		1,648				17,507
Real Estate Securities Fund					—			—		—				—
Short-Term Income Fund			13,580					12,861		2,229				24,360
SmallCap S&P 600 Index Fund			3,696					4,069		649				7,063
	$		142,745			$		160,388	$	27,024	$			279,451
			Realized Gain/Loss							Realized Gain from				Change in Unrealized
			Income		on Investments					Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		894	$				(4	) $			— $		875
Diversified International Fund			299					34				741		757
Diversified Real Asset Fund			74					(1	)			—		205
High Yield Fund I			219					(43	)			—		332
Inflation Protection Fund			139					(1	)			—		61
International Small Company Fund			73					2				131		101
LargeCap S&P 500 Index Fund			614					(60	)			1,427		675
MidCap S&P 400 Index Fund			150					5				571		309
Real Estate Securities Fund			—					—				—		—
Short-Term Income Fund			107					(4	)			—		152
SmallCap S&P 600 Index Fund			53					4				305		(57	)
	$		2,622	$				(68	) $			3,175	$	3,410
Amounts in thousands

See accompanying notes.

207

     Schedule of Investments Principal LifeTime Hybrid 2025 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.00%	Shares Held       Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 15.24%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Diversified Real Asset Fund (a)	367,250	$	4,051				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Small Company Fund (a)	464,338		4,713				shares of the security). Please see affiliated sub-schedule for transactional
MidCap S&P 400 Index Fund (a)	751,375		14,126				information.
Real Estate Securities Fund (a)	18		—
SmallCap S&P 600 Index Fund (a)	248,247		5,948					Portfolio Summary  (unaudited)
	$		28,838		Fund Type									Percent
Principal Funds, Inc. Institutional Class - 84.76%					Fixed Income Funds									40.00	%
Bond Market Index Fund (a)	4,682,274		50,334		Domestic Equity Funds									38.96	%
Diversified International Fund (a)	2,688,211		31,049		International Equity Funds									18.90	%
High Yield Fund I (a)	1,314,111		12,313		Specialty Funds									2.14	%
Inflation Protection Fund (a)	627,844		5,192		Other Assets and Liabilities									0.00	%
LargeCap S&P 500 Index Fund (a)	3,193,745		53,623		TOTAL NET ASSETS									100.00	%
Short-Term Income Fund (a)	648,480		7,834
	$		160,345
TOTAL INVESTMENT COMPANIES	$		189,183
Total Investments	$		189,183
Other Assets and Liabilities -  0.00%			(6	)
TOTAL NET ASSETS - 100.00%	$		189,177
Affiliated Securities	October 31, 2018						Purchases			Sales		January 31, 2019
	Value						Cost			Proceeds				Value
Bond Market Index Fund	$		32,451			$		24,009	$	6,683	$			50,334
Diversified International Fund			19,741					15,323		4,081				31,049
Diversified Real Asset Fund			2,411					2,146		596				4,051
High Yield Fund I			8,271					5,476		1,527				12,313
Inflation Protection Fund			3,370					2,499		692				5,192
International Small Company Fund			3,002					2,368		620				4,713
LargeCap S&P 500 Index Fund			36,246					24,192		6,337				53,623
MidCap S&P 400 Index Fund			9,115					6,867		1,753				14,126
Real Estate Securities Fund					—			—		—				—
Short-Term Income Fund			5,608					3,036		858				7,834
SmallCap S&P 600 Index Fund			4,004					2,882		717				5,948
	$		124,219			$		88,798	$	23,864	$			189,183
			Realized Gain/Loss							Realized Gain from				Change in Unrealized
			Income		on Investments					Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		701	$				1	$			— $		556
Diversified International Fund			314					(60	)			775		126
Diversified Real Asset Fund			66					(3	)			—		93
High Yield Fund I			148					(37	)			—		130
Inflation Protection Fund			85					(4	)			—		19
International Small Company Fund			74					(11	)			131		(26	)
LargeCap S&P 500 Index Fund			630					(15	)			1,461		(463	)
MidCap S&P 400 Index Fund			156					10				593		(113	)
Real Estate Securities Fund			—					—				—		—
Short-Term Income Fund			39					(2	)			—		50
SmallCap S&P 600 Index Fund			57					5				327		(226	)
	$		2,270	$				(116	) $			3,287	$	146
Amounts in thousands

See accompanying notes.

208

     Schedule of Investments Principal LifeTime Hybrid 2030 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.00%	Shares Held        Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 17.79%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Diversified Real Asset Fund (a)	444,183	$	4,899				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Emerging Markets Fund (a)	40,956		1,004				shares of the security). Please see affiliated sub-schedule for transactional
International Small Company Fund (a)	652,728		6,625				information.
MidCap S&P 400 Index Fund (a)	1,045,440		19,654
Origin Emerging Markets Fund (a)	97,566		994					Portfolio Summary  (unaudited)
SmallCap S&P 600 Index Fund (a)	332,671		7,971		Fund Type									Percent
	$		41,147		Domestic Equity Funds									44.48	%
Principal Funds, Inc. Institutional Class - 82.21%					Fixed Income Funds									31.74	%
Bond Market Index Fund (a)	5,220,710		56,123		International Equity Funds									21.66	%
Diversified International Fund (a)	3,593,146		41,501		Specialty Funds									2.12	%
High Yield Fund I (a)	1,325,736		12,422		Other Assets and Liabilities									0.00	%
Inflation Protection Fund (a)	589,394		4,874		TOTAL NET ASSETS									100.00	%
LargeCap S&P 500 Index Fund (a)	4,482,319		75,258
	$		190,178
TOTAL INVESTMENT COMPANIES	$		231,325
Total Investments	$		231,325
Other Assets and Liabilities -  0.00%			(5	)
TOTAL NET ASSETS - 100.00%	$		231,320
Affiliated Securities	October 31, 2018						Purchases			Sales		January 31, 2019
	Value						Cost			Proceeds				Value
Bond Market Index Fund	$		38,069			$		22,532	$	5,064	$			56,123
Diversified International Fund			27,778					17,668		3,753				41,501
Diversified Real Asset Fund			3,079					2,234		502				4,899
High Yield Fund I			8,747					4,659		1,053				12,422
Inflation Protection Fund			3,332					1,976		442				4,874
International Emerging Markets Fund					642			405		89				1,004
International Small Company Fund			4,441					2,895		601				6,625
LargeCap S&P 500 Index Fund			53,193					29,429		6,130				75,258
MidCap S&P 400 Index Fund			13,356					8,323		1,676				19,654
Origin Emerging Markets Fund					634			396		91				994
SmallCap S&P 600 Index Fund			5,622					3,399		661				7,971
	$		158,893			$		93,916	$	20,062	$			231,325
			Realized Gain/Loss							Realized Gain from				Change in Unrealized
			Income		on Investments					Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		870	$				1	$			— $		585
Diversified International Fund			468					53				1,157		(245	)
Diversified Real Asset Fund			89					—				—		88
High Yield Fund I			155					(23	)			—		92
Inflation Protection Fund			89					—				—		8
International Emerging Markets Fund			7					(1	)			12		47
International Small Company Fund			116					13				205		(123	)
LargeCap S&P 500 Index Fund			970					(11	)			2,250		(1,223	)
MidCap S&P 400 Index Fund			241					3				918		(352	)
Origin Emerging Markets Fund			10					—				—		55
SmallCap S&P 600 Index Fund			84					3				484		(392	)
	$		3,099	$				38	$			5,026	$	(1,460	)
Amounts in thousands

See accompanying notes.

209

     Schedule of Investments Principal LifeTime Hybrid 2035 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.00%	Shares Held       Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 19.94%							Investment Company Act of 1940) or an affiliate as defined by the Investment
International Emerging Markets Fund (a)	41,810	$	1,024				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Small Company Fund (a)	407,391		4,135				shares of the security). Please see affiliated sub-schedule for transactional
MidCap S&P 400 Index Fund (a)	640,123		12,034				information.
Origin Emerging Markets Fund (a)	99,282		1,012
Real Estate Securities Fund (a)	123,179		2,999					Portfolio Summary  (unaudited)
SmallCap S&P 600 Index Fund (a)	210,793		5,051		Fund Type									Percent
	$		26,255		Domestic Equity Funds									51.20	%
Principal Funds, Inc. Institutional Class - 80.06%					International Equity Funds									24.63	%
Bond Market Index Fund (a)	2,420,187		26,017		Fixed Income Funds									24.17	%
Diversified International Fund (a)	2,273,795		26,262		Other Assets and Liabilities									0.00	%
High Yield Fund I (a)	620,371		5,813		TOTAL NET ASSETS									100.00	%
LargeCap S&P 500 Index Fund (a)	2,819,453		47,339
	$		105,431
TOTAL INVESTMENT COMPANIES	$		131,686
Total Investments	$		131,686
Other Assets and Liabilities -  0.00%			(4	)
TOTAL NET ASSETS - 100.00%	$		131,682
Affiliated Securities	October 31, 2018						Purchases			Sales		January 31, 2019
	Value						Cost			Proceeds				Value
Bond Market Index Fund	$		18,674			$		10,259	$	3,200	$			26,017
Diversified International Fund			18,848					10,824		3,170				26,262
High Yield Fund I			4,354					2,090		655				5,813
International Emerging Markets Fund					705			396		122				1,024
International Small Company Fund			2,976					1,756		503				4,135
LargeCap S&P 500 Index Fund			35,504					17,942		5,149				47,339
MidCap S&P 400 Index Fund			8,732					4,957		1,372				12,034
Origin Emerging Markets Fund					694			385		121				1,012
Real Estate Securities Fund			1,941					1,211		381				2,999
SmallCap S&P 600 Index Fund			3,786					2,107		563				5,051
	$		96,214			$		51,927	$	15,236	$			131,686
			Realized Gain/Loss							Realized Gain from				Change in Unrealized
			Income		on Investments					Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		416	$				2	$			— $		282
Diversified International Fund			311					(29	)			764		(211	)
High Yield Fund I			75					(12	)			—		36
International Emerging Markets Fund			7					(2	)			13		47
International Small Company Fund			76					(5	)			134		(89	)
LargeCap S&P 500 Index Fund			634					(40	)			1,466		(918	)
MidCap S&P 400 Index Fund			154					4				585		(287	)
Origin Emerging Markets Fund			10					—				—		54
Real Estate Securities Fund			14					—				26		228
SmallCap S&P 600 Index Fund			56					3				317		(282	)
	$		1,753	$				(79	) $			3,305	$	(1,140	)
Amounts in thousands

See accompanying notes.

210

     Schedule of Investments Principal LifeTime Hybrid 2040 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.01%	Shares Held        Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 21.62%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Diversified Real Asset Fund (a)	5	$	—				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Emerging Markets Fund (a)	55,943		1,371				shares of the security). Please see affiliated sub-schedule for transactional
International Small Company Fund (a)	497,721		5,052				information.
MidCap S&P 400 Index Fund (a)	840,866		15,808
Origin Emerging Markets Fund (a)	133,024		1,355					Portfolio Summary  (unaudited)
Real Estate Securities Fund (a)	146,645		3,571		Fund Type									Percent
SmallCap S&P 600 Index Fund (a)	268,418		6,431		Domestic Equity Funds									55.50	%
	$		33,588		International Equity Funds									26.40	%
Principal Funds, Inc. Institutional Class - 78.39%					Fixed Income Funds									18.11	%
Bond Market Index Fund (a)	2,113,884		22,724		Specialty Funds									0.00	%
Diversified International Fund (a)	2,878,241		33,244		Other Assets and Liabilities									(0.01	)%
High Yield Fund I (a)	579,517		5,430		TOTAL NET ASSETS									100.00	%
LargeCap S&P 500 Index Fund (a)	3,597,780		60,407
	$		121,805
TOTAL INVESTMENT COMPANIES	$		155,393
Total Investments	$		155,393
Other Assets and Liabilities -  (0.01)%			(9	)
TOTAL NET ASSETS - 100.00%	$		155,384
Affiliated Securities	October 31, 2018						Purchases			Sales		January 31, 2019
	Value						Cost			Proceeds				Value
Bond Market Index Fund	$		15,348			$		9,508	$	2,370	$			22,724
Diversified International Fund			22,709					13,997		3,275				33,244
Diversified Real Asset Fund					—			—		—				—
High Yield Fund I			3,894					2,009		502				5,430
International Emerging Markets Fund					899			541		132				1,371
International Small Company Fund			3,455					2,190		502				5,052
LargeCap S&P 500 Index Fund			43,332					23,533		5,410				60,407
MidCap S&P 400 Index Fund			10,932					6,654		1,477				15,808
Origin Emerging Markets Fund					886			527		133				1,355
Real Estate Securities Fund			2,183					1,472		369				3,571
SmallCap S&P 600 Index Fund			4,597					2,745		590				6,431
	$		108,235			$		63,176	$	14,760	$			155,393
			Realized Gain/Loss							Realized Gain from				Change in Unrealized
			Income		on Investments					Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		347	$				— $				— $		238
Diversified International Fund			383					37				944		(224	)
Diversified Real Asset Fund			—					—				—		—
High Yield Fund I			69					(7	)			—		36
International Emerging Markets Fund			10					(2	)			17		65
International Small Company Fund			90					4				159		(95	)
LargeCap S&P 500 Index Fund			789					(31	)			1,827		(1,017	)
MidCap S&P 400 Index Fund			197					1				749		(302	)
Origin Emerging Markets Fund			13					—				—		75
Real Estate Securities Fund			16					—				30		285
SmallCap S&P 600 Index Fund			69					3				394		(324	)
	$		1,983	$				5	$			4,120	$	(1,263	)
Amounts in thousands

See accompanying notes.

211

     Schedule of Investments Principal LifeTime Hybrid 2045 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.01%	Shares Held       Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 22.92%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Diversified Real Asset Fund (a)	10	$	—				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Emerging Markets Fund (a)	31,525		772				shares of the security). Please see affiliated sub-schedule for transactional
International Small Company Fund (a)	256,148		2,600				information.
MidCap S&P 400 Index Fund (a)	460,315		8,654
Origin Emerging Markets Fund (a)	74,956		764					Portfolio Summary  (unaudited)
Real Estate Securities Fund (a)	74,382		1,811		Fund Type									Percent
SmallCap S&P 600 Index Fund (a)	148,125		3,549		Domestic Equity Funds									58.88	%
	$		18,150		International Equity Funds									27.94	%
Principal Funds, Inc. Institutional Class - 77.09%					Fixed Income Funds									13.19	%
Bond Market Index Fund (a)	788,475		8,476		Specialty Funds									0.00	%
Diversified International Fund (a)	1,557,490		17,989		Other Assets and Liabilities									(0.01	)%
High Yield Fund I (a)	209,580		1,964		TOTAL NET ASSETS									100.00	%
LargeCap S&P 500 Index Fund (a)	1,942,024		32,607
	$		61,036
TOTAL INVESTMENT COMPANIES	$		79,186
Total Investments	$		79,186
Other Assets and Liabilities -  (0.01)%			(4	)
TOTAL NET ASSETS - 100.00%	$		79,182
Affiliated Securities	October 31, 2018						Purchases			Sales		January 31, 2019
	Value						Cost			Proceeds				Value
Bond Market Index Fund	$		5,961			$		3,801	$	1,380	$			8,476
Diversified International Fund			12,989					7,791		2,657				17,989
Diversified Real Asset Fund					—			—		—				—
High Yield Fund I			1,480					746		269				1,964
International Emerging Markets Fund					535			315		113				772
International Small Company Fund			1,881					1,161		388				2,600
LargeCap S&P 500 Index Fund			24,534					13,039		4,371				32,607
MidCap S&P 400 Index Fund			6,315					3,724		1,205				8,654
Origin Emerging Markets Fund					528			308		114				764
Real Estate Securities Fund			1,175					773		282				1,811
SmallCap S&P 600 Index Fund			2,676					1,543		484				3,549
	$		58,074			$		33,201	$	11,263	$			79,186
			Realized Gain/Loss							Realized Gain from				Change in Unrealized
			Income		on Investments					Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		124	$				— $				— $		94
Diversified International Fund			205					(23	)			503		(111	)
Diversified Real Asset Fund			—					—				—		—
High Yield Fund I			25					(6	)			—		13
International Emerging Markets Fund			5					(2	)			10		37
International Small Company Fund			46					(4	)			80		(50	)
LargeCap S&P 500 Index Fund			420					(21	)			973		(574	)
MidCap S&P 400 Index Fund			107					1				406		(181	)
Origin Emerging Markets Fund			8					—				—		42
Real Estate Securities Fund			8					—				15		145
SmallCap S&P 600 Index Fund			38					3				215		(189	)
	$		986	$				(52	) $			2,202	$	(774	)
Amounts in thousands

See accompanying notes.

212

     Schedule of Investments Principal LifeTime Hybrid 2050 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.01%	Shares Held        Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 23.77%							Investment Company Act of 1940) or an affiliate as defined by the Investment
International Emerging Markets Fund (a)	28,744	$	704				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Small Company Fund (a)	250,598		2,544				shares of the security). Please see affiliated sub-schedule for transactional
MidCap S&P 400 Index Fund (a)	436,914		8,214				information.
Origin Emerging Markets Fund (a)	68,205		695
Real Estate Securities Fund (a)	67,827		1,652					Portfolio Summary  (unaudited)
SmallCap S&P 600 Index Fund (a)	142,717		3,419		Fund Type									Percent
	$		17,228		Domestic Equity Funds									61.45	%
Principal Funds, Inc. Institutional Class - 76.24%					International Equity Funds									29.10	%
Bond Market Index Fund (a)	494,561		5,316		Fixed Income Funds									9.46	%
Diversified International Fund (a)	1,485,273		17,155		Other Assets and Liabilities									(0.01	)%
High Yield Fund I (a)	164,898		1,545		TOTAL NET ASSETS									100.00	%
LargeCap S&P 500 Index Fund (a)	1,861,766		31,259
	$		55,275
TOTAL INVESTMENT COMPANIES	$		72,503
Total Investments	$		72,503
Other Assets and Liabilities -  (0.01)%			(4	)
TOTAL NET ASSETS - 100.00%	$		72,499
Affiliated Securities	October 31, 2018						Purchases			Sales		January 31, 2019
	Value						Cost			Proceeds				Value
Bond Market Index Fund	$		3,812			$		2,005	$	555	$			5,316
Diversified International Fund			12,923					6,046		1,522				17,155
High Yield Fund I			1,210					460		128				1,545
International Emerging Markets Fund					507			230		63				704
International Small Company Fund			1,922					935		229				2,544
LargeCap S&P 500 Index Fund			24,473					10,209		2,513				31,259
MidCap S&P 400 Index Fund			6,262					2,935		688				8,214
Origin Emerging Markets Fund					500			222		61				695
Real Estate Securities Fund			1,128					559		153				1,652
SmallCap S&P 600 Index Fund			2,694					1,242		279				3,419
	$		55,431			$		24,843	$	6,191	$			72,503
			Realized Gain/Loss							Realized Gain from			Change in Unrealized
			Income		on Investments					Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		89	$				— $				— $		54
Diversified International Fund			225					14				554		(306	)
High Yield Fund I			21					(1	)			—		4
International Emerging Markets Fund			5					—				10		30
International Small Company Fund			52					3				92		(87	)
LargeCap S&P 500 Index Fund			459					(7	)			1,059		(903	)
MidCap S&P 400 Index Fund			116					(2	)			442		(293	)
Origin Emerging Markets Fund			8					—				—		34
Real Estate Securities Fund			8					—				16		118
SmallCap S&P 600 Index Fund			42					1				238		(239	)
	$		1,025	$				8	$			2,411	$	(1,588	)
Amounts in thousands

See accompanying notes.

213

     Schedule of Investments Principal LifeTime Hybrid 2055 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.01%	Shares Held          Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 24.76%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Diversified Real Asset Fund (a)	20	$	—				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Emerging Markets Fund (a)	9,772		239				shares of the security). Please see affiliated sub-schedule for transactional
International Small Company Fund (a)	78,844		800				information.
MidCap S&P 400 Index Fund (a)	142,635		2,682
Origin Emerging Markets Fund (a)	23,235		237					Portfolio Summary  (unaudited)
Real Estate Securities Fund (a)	21,261		518		Fund Type										Percent
SmallCap S&P 600 Index Fund (a)	46,794		1,121		Domestic Equity Funds										63.48	%
	$		5,597		International Equity Funds										30.00	%
Principal Funds, Inc. Institutional Class - 75.25%					Fixed Income Funds										6.53	%
Bond Market Index Fund (a)	93,481		1,005		Specialty Funds										0.00	%
Diversified International Fund (a)	476,434		5,503		Other Assets and Liabilities										(0.01	)%
High Yield Fund I (a)	50,228		471		TOTAL NET ASSETS										100.00	%
LargeCap S&P 500 Index Fund (a)	597,205		10,027
	$		17,006
TOTAL INVESTMENT COMPANIES	$		22,603
Total Investments	$		22,603
Other Assets and Liabilities -  (0.01)%			(3	)
TOTAL NET ASSETS - 100.00%	$		22,600
Affiliated Securities	October 31, 2018						Purchases			Sales			January 31, 2019
	Value						Cost			Proceeds					Value
Bond Market Index Fund	$				731	$		545	$	283		$			1,005
Diversified International Fund			4,342					2,376		1,150					5,503
Diversified Real Asset Fund					—			—		—					—
High Yield Fund I					384			177		91					471
International Emerging Markets Fund					180			98		49					239
International Small Company Fund					634			359		171					800
LargeCap S&P 500 Index Fund			8,153					3,990		1,893					10,027
MidCap S&P 400 Index Fund			2,128					1,151		528					2,682
Origin Emerging Markets Fund					178			96		50					237
Real Estate Securities Fund					370			220		113					518
SmallCap S&P 600 Index Fund					919			483		213					1,121
	$		18,019			$		9,495	$	4,541		$			22,603
			Realized Gain/Loss							Realized Gain from					Change in Unrealized
			Income		on Investments						Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		13	$				— $					— $		12
Diversified International Fund			63					(13	)				157		(52	)
Diversified Real Asset Fund			—					—					—		—
High Yield Fund I			6					(2	)				—		3
International Emerging Markets Fund			2					(1	)				3		11
International Small Company Fund			14					(2	)				25		(20	)
LargeCap S&P 500 Index Fund			132					(12	)				306		(211	)
MidCap S&P 400 Index Fund			34					(1	)				129		(68	)
Origin Emerging Markets Fund			3					—					—		13
Real Estate Securities Fund			2					—					4		41
SmallCap S&P 600 Index Fund			12					1					70		(69	)
	$		281	$				(30	) $				694	$	(340	)
Amounts in thousands

See accompanying notes.

214

     Schedule of Investments Principal LifeTime Hybrid 2060 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.03%	Shares Held          Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 25.19%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Diversified Real Asset Fund (a)	19	$	—				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Emerging Markets Fund (a)	3,297		81				shares of the security). Please see affiliated sub-schedule for transactional
International Small Company Fund (a)	24,487		248				information.
MidCap S&P 400 Index Fund (a)	44,763		842
Origin Emerging Markets Fund (a)	7,852		80					Portfolio Summary  (unaudited)
Real Estate Securities Fund (a)	6,573		160		Fund Type										Percent
SmallCap S&P 600 Index Fund (a)	14,789		354		Domestic Equity Funds										64.13	%
	$		1,765		International Equity Funds										30.75	%
Principal Funds, Inc. Institutional Class - 74.84%					Fixed Income Funds										5.15	%
Bond Market Index Fund (a)	19,981		215		Specialty Funds										0.00	%
Diversified International Fund (a)	151,065		1,745		Other Assets and Liabilities										(0.03	)%
High Yield Fund I (a)	15,590		146		TOTAL NET ASSETS										100.00	%
LargeCap S&P 500 Index Fund (a)	186,849		3,137
	$		5,243
TOTAL INVESTMENT COMPANIES	$		7,008
Total Investments	$		7,008
Other Assets and Liabilities -  (0.03)%			(2	)
TOTAL NET ASSETS - 100.00%	$		7,006
Affiliated Securities	October 31, 2018						Purchases			Sales			January 31, 2019
	Value							Cost		Proceeds					Value
Bond Market Index Fund	$				140	$		118	$	45		$			215
Diversified International Fund			1,332					684		242					1,745
Diversified Real Asset Fund					—			—		—					—
High Yield Fund I					116			49		19					146
International Emerging Markets Fund					59			30		11					81
International Small Company Fund					190			102		36					248
LargeCap S&P 500 Index Fund			2,481					1,137		393					3,137
MidCap S&P 400 Index Fund					649			332		109					842
Origin Emerging Markets Fund					58			29		11					80
Real Estate Securities Fund					111			61		23					160
SmallCap S&P 600 Index Fund					282			141		45					354
	$		5,418			$		2,683	$	934		$			7,008
			Realized Gain/Loss							Realized Gain from					Change in Unrealized
			Income		on Investments						Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		3	$				— $					— $		2
Diversified International Fund			22					1					56		(30	)
Diversified Real Asset Fund			—					—					—		—
High Yield Fund I			2					—					—		—
International Emerging Markets Fund			1					—					1		3
International Small Company Fund			5					—					9		(8	)
LargeCap S&P 500 Index Fund			45					—					105		(88	)
MidCap S&P 400 Index Fund			12					—					45		(30	)
Origin Emerging Markets Fund			1					—					—		4
Real Estate Securities Fund			1					—					1		11
SmallCap S&P 600 Index Fund			4					—					24		(24	)
	$		96	$				1	$				241	$	(160	)
Amounts in thousands

See accompanying notes.

215

     Schedule of Investments Principal LifeTime Hybrid 2065 Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.44%	Shares Held         Value (000's)					(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 25.26%								Investment Company Act of 1940) or an affiliate as defined by the Investment
International Emerging Markets Fund (a)		320	$	7,846				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Small Company Fund (a)		2,380		24,158				shares of the security). Please see affiliated sub-schedule for transactional
MidCap S&P 400 Index Fund (a)		4,346		81,705				information.
Origin Emerging Markets Fund (a)		758		7,725
Real Estate Securities Fund (a)		632		15,397					Portfolio Summary  (unaudited)
SmallCap S&P 600 Index Fund (a)		1,439		34,481		Fund Type									Percent
		$		171,312		Domestic Equity Funds									64.69	%
Principal Funds, Inc. Institutional Class - 75.18%						International Equity Funds									31.02	%
Bond Market Index Fund (a)		1,618		17,397		Fixed Income Funds									4.73	%
Diversified International Fund (a)		14,733		170,164		Other Assets and Liabilities									(0.44	)%
High Yield Fund I (a)		1,518		14,225		TOTAL NET ASSETS									100.00	%
LargeCap S&P 500 Index Fund (a)		18,302		307,300
		$		509,086
TOTAL INVESTMENT COMPANIES		$		680,398
Total Investments		$		680,398
Other Assets and Liabilities -  (0.44)%				(3,279	)
TOTAL NET ASSETS - 100.00%		$		677,119
Affiliated Securities		October 31, 2018						Purchases			Sales		January 31, 2019
		Value							Cost		Proceeds				Value
Bond Market Index Fund	$			92,252			$		13,527	$	89,632	$			17,397
Diversified International Fund				1,093,037					84,947		972,559				170,164
High Yield Fund I				94,631					6,515		85,687				14,225
International Emerging Markets Fund				47,983					3,727		44,003				7,846
International Small Company Fund				155,304					12,573		134,507				24,158
LargeCap S&P 500 Index Fund				2,048,763					141,293		1,835,283				307,300
MidCap S&P 400 Index Fund				531,005					40,785		474,693				81,705
Origin Emerging Markets Fund				47,329					3,630		43,058				7,725
Real Estate Securities Fund				90,384					7,614		85,498				15,397
SmallCap S&P 600 Index Fund				231,484					17,260		202,462				34,481
	$			4,432,172			$		331,871	$	3,967,382	$			680,398
				Realized Gain/Loss							Realized Gain from				Change in Unrealized
				Income		on Investments					Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$			291	$			515		$			— $		735
Diversified International Fund				2,564				(164,853		)			6,203		129,592
High Yield Fund I				632				(3,956		)			—		2,722
International Emerging Markets Fund				71				(12,163		)			126		12,302
International Small Company Fund				559				(29,169		)			984		19,957
LargeCap S&P 500 Index Fund				4,998				(40,029		)			11,585		(7,444	)
MidCap S&P 400 Index Fund				1,296				(33,857		)			4,929		18,465
Origin Emerging Markets Fund				100				(13,331		)			—		13,155
Real Estate Securities Fund				91				4,234					169		(1,337	)
SmallCap S&P 600 Index Fund				467				(10,691		)			2,675		(1,110	)
	$	11,069			$			(303,300		) $			26,671	$	187,037
Amounts in thousands

See accompanying notes.

216

     Schedule of Investments Principal LifeTime Hybrid Income Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.01%	Shares Held         Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 7.01%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Diversified Real Asset Fund (a)	108,540	$	1,197				Company Act of 1940 (controls 5.0% or more of the outstanding voting
International Small Company Fund (a)	51,000		518				shares of the security). Please see affiliated sub-schedule for transactional
MidCap S&P 400 Index Fund (a)	78,562		1,477				information.
SmallCap S&P 600 Index Fund (a)	24,646		590
	$		3,782					Portfolio Summary  (unaudited)
Principal Funds, Inc. Institutional Class - 93.00%					Fund Type										Percent
Bond Market Index Fund (a)	2,031,258		21,836		Fixed Income Funds										76.81	%
Diversified International Fund (a)	270,289		3,122		Domestic Equity Funds										14.23	%
High Yield Fund I (a)	549,095		5,145		International Equity Funds										6.75	%
Inflation Protection Fund (a)	312,120		2,581		Specialty Funds										2.22	%
LargeCap S&P 500 Index Fund (a)	334,076		5,609		Other Assets and Liabilities										(0.01	)%
Short-Term Income Fund (a)	982,651		11,871		TOTAL NET ASSETS										100.00	%
	$		50,164
TOTAL INVESTMENT COMPANIES	$		53,946
Total Investments	$		53,946
Other Assets and Liabilities -  (0.01)%			(4	)
TOTAL NET ASSETS - 100.00%	$		53,942
Affiliated Securities	October 31, 2018						Purchases			Sales			January 31, 2019
	Value						Cost			Proceeds					Value
Bond Market Index Fund	$		10,393			$		12,469	$	1,255		$			21,836
Diversified International Fund			1,393					1,855		181					3,122
Diversified Real Asset Fund					485			751		76					1,197
High Yield Fund I			2,515					2,849		287					5,145
Inflation Protection Fund			1,213					1,506		151					2,581
International Small Company Fund					227			312		29					518
LargeCap S&P 500 Index Fund			2,915					2,957		284					5,609
MidCap S&P 400 Index Fund					708			832		79					1,477
Short-Term Income Fund			6,072					6,376		651					11,871
SmallCap S&P 600 Index Fund					303			327		30					590
	$		26,224			$		30,234	$	3,023		$			53,946
			Realized Gain/Loss							Realized Gain from					Change in Unrealized
			Income		on Investments						Capital Gain Distributions				Gain/Loss
Bond Market Index Fund	$		261	$				1	$				— $		228
Diversified International Fund			26					—					64		55
Diversified Real Asset Fund			16					(1	)				—		38
High Yield Fund I			55					(1	)				—		69
Inflation Protection Fund			36					—					—		13
International Small Company Fund			6					—					12		8
LargeCap S&P 500 Index Fund			58					(1	)				134		22
MidCap S&P 400 Index Fund			14					—					53		16
Short-Term Income Fund			51					—					—		74
SmallCap S&P 600 Index Fund			5					—					28		(10	)
	$		528	$				(2	) $				291	$	513
Amounts in thousands

See accompanying notes.

217

     Schedule of Investments Principal LifeTime Strategic Income Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 100.01%	Shares Held        Value (000's)				(a)		Affiliated Security. Security is either an affiliate (and registered under the
Principal Funds, Inc. Class R-6 - 17.76%							Investment Company Act of 1940) or an affiliate as defined by the Investment
Blue Chip Fund (a)	796,323	$	17,559				Company Act of 1940 (controls 5.0% or more of the outstanding voting
Diversified Real Asset Fund (a)	677,153		7,469				shares of the security). Please see affiliated sub-schedule for transactional
Global Multi-Strategy Fund (a)	2,748,645		28,421				information.
International Small Company Fund (a)	350,412		3,557
MidCap Fund (a)	476,631		11,782					Portfolio Summary  (unaudited)
SmallCap Growth Fund I (a)	207,656		2,550		Fund Type									Percent
SmallCap Value Fund II (a)	232,090		2,314		Fixed Income Funds									69.82	%
	$		73,652		Domestic Equity Funds									15.29	%
Principal Funds, Inc. Institutional Class - 82.25%					Specialty Funds									8.65	%
Bond Market Index Fund (a)	4,357,983		46,848		International Equity Funds									6.25	%
Core Plus Bond Fund (a)	8,638,151		91,132		Other Assets and Liabilities									(0.01	)%
Diversified International Fund (a)	970,873		11,214		TOTAL NET ASSETS									100.00	%
Equity Income Fund (a)	462,532		13,733
High Yield Fund I (a)	4,200,529		39,359
Inflation Protection Fund (a)	2,334,226		19,304
LargeCap S&P 500 Index Fund (a)	921,102		15,465
Overseas Fund (a)	1,213,440		11,151
Short-Term Income Fund (a)	7,688,869		92,882
	$		341,088
TOTAL INVESTMENT COMPANIES	$		414,740
Total Investments	$		414,740
Other Assets and Liabilities -  (0.01)%			(50	)
TOTAL NET ASSETS - 100.00%	$		414,690
Affiliated Securities	October 31, 2018						Purchases			Sales		January 31, 2019
	Value						Cost			Proceeds				Value
Blue Chip Fund	$		17,820			$		1,368	$	1,108	$			17,559
Bond Market Index Fund			48,860					1,765		4,223				46,848
Core Plus Bond Fund			95,384					1,904		7,917				91,132
Diversified International Fund			12,002					899		1,056				11,214
Diversified Real Asset Fund			8,096					375		880				7,469
Equity Income Fund			14,523					903		1,108				13,733
Global Multi-Strategy Fund			30,578					2,184		2,464				28,421
High Yield Fund I			41,984					1,099		3,342				39,359
Inflation Protection Fund			20,389					820		1,759				19,304
International Small Company Fund			3,869					350		351				3,557
LargeCap S&P 500 Index Fund			16,398					1,206		1,091				15,465
MidCap Fund			12,183					1,365		916				11,782
Overseas Fund			12,105					1,160		1,056				11,151
Short-Term Income Fund			98,203					1,624		7,564				92,882
SmallCap Growth Fund I			2,681					373		176				2,550
SmallCap Value Fund II			2,488					404		176				2,314
	$		437,563			$		17,799	$	35,187	$			414,740
			Realized Gain/Loss							Realized Gain from				Change in Unrealized
			Income		on Investments					Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		2	$				104	$			1,217	$	(625	)
Bond Market Index Fund			1,197					10				—		436
Core Plus Bond Fund			840					4				—		1,757
Diversified International Fund			218					50				539		(681	)
Diversified Real Asset Fund			257					(27	)			—		(95	)
Equity Income Fund			198					135				555		(720	)
Global Multi-Strategy Fund			1,215					29				639		(1,906	)
High Yield Fund I			650					(67	)			—		(315	)
Inflation Protection Fund			584					43				—		(189	)
International Small Company Fund			109					6				194		(317	)
LargeCap S&P 500 Index Fund			319					4				740		(1,052	)
MidCap Fund			41					133				1,201		(983	)
Overseas Fund			329					31				689		(1,089	)
Short-Term Income Fund			607					(2	)			—		621
SmallCap Growth Fund I			37					26				312		(354	)
SmallCap Value Fund II			69					1				311		(403	)
	$		6,672	$				480	$			6,397	$	(5,915	)
Amounts in thousands

See accompanying notes.

218

Schedule of Investments
Real Estate Securities Fund
January 31, 2019 (unaudited)

COMMON STOCKS - 99.06%	Shares Held      Value (000's)					(a)		Non-income producing security
Lodging - 3.92%						(b)		Restricted Security. Please see Restricted Security Sub-Schedule for more
Extended Stay America Inc	2,167,891 $			37,071				information.
Hilton Grand Vacations Inc (a)		1,211,326		36,752		(c)		Affiliated Security. Security is either an affiliate (and registered under the
Hilton Worldwide Holdings Inc	1,020,266			75,989				Investment Company Act of 1940) or an affiliate as defined by the Investment
		$		149,812				Company Act of 1940 (controls 5.0% or more of the outstanding voting
REITs - 93.04%								shares of the security). Please see affiliated sub-schedule for transactional
Alexandria Real Estate Equities Inc	1,283,874			169,099				information.
American Homes 4 Rent	3,057,921			67,611		(d)		Current yield shown is as of period end.
American Tower Corp		210,248		36,339
Apartment Investment & Management Co	2,571,254			127,328					Portfolio Summary  (unaudited)
AvalonBay Communities Inc	1,247,444			240,657		Sector								Percent
Boston Properties Inc		732,117		96,544		Financial								93.04	%
Corporate Office Properties Trust	1,073,216			26,498		Consumer, Cyclical								3.92	%
Crown Castle International Corp		310,136		36,305		Technology								2.10	%
CubeSmart	1,864,404			57,703		Investment Companies								1.60	%
Duke Realty Corp	2,037,314			59,571		Other Assets and Liabilities								(0.66	)%
EPR Properties	1,162,283			84,916		TOTAL NET ASSETS								100.00	%
Equinix Inc		443,933		174,910
Equity LifeStyle Properties Inc		570,073		60,359
Equity Residential		569,921		41,353
Essex Property Trust Inc		649,700		176,199
Extra Space Storage Inc	1,276,623			125,888
First Industrial Realty Trust Inc		977,495		31,984
HCP Inc	1,231,913			38,855
Healthcare Trust of America Inc	3,894,121			110,671
Hudson Pacific Properties Inc	1,420,502			46,124
Invitation Homes Inc	6,929,900			155,853
Kilroy Realty Corp	1,172,948			82,646
Liberty Property Trust		958,194		45,169
Physicians Realty Trust	1,959,374			35,484
Prologis Inc	4,187,037			289,575
Public Storage		321,265		68,275
Regency Centers Corp	1,991,906			129,474
Saul Centers Inc		336,510		17,822
Simon Property Group Inc	1,197,215			218,037
Spirit Realty Capital Inc	1,683,517			66,869
STORE Capital Corp	3,643,079			117,744
Sun Communities Inc		941,895		103,524
Sunstone Hotel Investors Inc	4,523,452			64,685
Tanger Factory Outlet Centers Inc	1,129,122			25,688
Taubman Centers Inc		687,431		34,234
Terreno Realty Corp		746,618		30,119
VICI Properties Inc (b)	1,275,120			27,453
Vornado Realty Trust		228,094		15,946
Welltower Inc	2,514,646			194,860
Weyerhaeuser Co		916,855		24,058
		$		3,556,429
Software - 2.10%
InterXion Holding NV (a)	1,339,950			80,451
TOTAL COMMON STOCKS		$		3,786,692
INVESTMENT COMPANIES - 1.60%	Shares Held      Value (000's)
Money Market Funds - 1.60%
Principal Government Money Market Fund	61,165,701			61,166
2.32%(c),(d)
TOTAL INVESTMENT COMPANIES		$		61,166
Total Investments		$		3,847,858
Other Assets and Liabilities -  (0.66)%				(25,242	)
TOTAL NET ASSETS - 100.00%		$		3,822,616
Affiliated Securities		October 31, 2018						Purchases			Sales		January 31, 2019
		Value							Cost		Proceeds			Value
Principal Government Money Market Fund 2.32%	$			49,809			$		138,446	$	127,089	$		61,166
	$			49,809			$		138,446	$	127,089	$		61,166
				Realized Gain/Loss							Realized Gain from		Change in Unrealized
		Income			on Investments				Capital Gain Distributions					Gain/Loss
Principal Government Money Market Fund 2.32%	$	168	$			— $					— $			—
	$	168	$			— $					— $			—
Amounts in thousands

See accompanying notes.

219

Schedule of Investments
Real Estate Securities Fund
January 31, 2019 (unaudited)
Restricted Securities
Security Name	Acquisition Date		Cost		Value	Percent of Net Assets
VICI Properties Inc	02/01/2018-01/28/2019	$	25,971	$	27,453	0.72	%
Total				$	27,453	0.72	%
Amounts in thousands.

See accompanying notes.

220

			Schedule of Investments
			SAM Balanced Portfolio
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.06%	Shares Held                                  Value (000's)
Money Market Funds - 0.30%
Principal Government Money Market Fund	13,112,034	$	13,112
2.32%(a),(b)
Principal Exchange-Traded Funds - 19.79%
Principal Active Global Dividend Income ETF (a)	7,708,100		201,297
Principal EDGE Active Income ETF (a)	1,406,000		54,820
Principal Investment Grade Corporate Active	2,774,000		68,795
ETF (a)
Principal U.S. Mega-Cap Multi-Factor Index	16,906,700		449,380
ETF (a)
Principal U.S. Small-Cap Multi-Factor Index	3,197,700		97,498
ETF (a)
	$		871,790
Principal Funds, Inc. Class R-6 - 42.06%
Blue Chip Fund (a)	17,113,437		377,351
Diversified Real Asset Fund (a)	13,555,601		149,518
EDGE MidCap Fund (a)	12,960,941		172,899
Global Multi-Strategy Fund (a)	16,182,592		167,328
Global Real Estate Securities Fund (a)	14,447,093		142,159
High Yield Fund (a)	9,855,161		68,592
Income Fund (a)	53,898,925		503,955
International Emerging Markets Fund (a)	2,284,357		55,967
International Small Company Fund (a)	5,132,280		52,093
Preferred Securities Fund (a)	12,082,437		117,441
Real Estate Debt Income Fund (a)	4,853,780		46,014
	$		1,853,317
Principal Funds, Inc. Institutional Class - 37.91%
Diversified International Fund (a)	42,452,382		490,325
Equity Income Fund (a)	18,284,928		542,879
Government & High Quality Bond Fund (a)	24,449,417		249,629
Inflation Protection Fund (a)	8,544,128		70,660
Short-Term Income Fund (a)	26,238,492		316,961
	$		1,670,454
TOTAL INVESTMENT COMPANIES	$		4,408,673
Total Investments	$		4,408,673
Other Assets and Liabilities -  (0.06)%			(2,785	)
TOTAL NET ASSETS - 100.00%	$		4,405,888

(a)	Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.
(b)	Current yield shown is as of period end.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	37.21	%
Fixed Income Funds	33.98	%
International Equity Funds	21.38	%
Specialty Funds	7.19	%
Investment Companies	0.30	%
Other Assets and Liabilities	(0.06	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

221

Schedule of Investments
SAM Balanced Portfolio
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		362,422	$		26,818	$	1,803	$			377,351
Diversified International Fund			477,998			38,990		2,450				490,325
Diversified Real Asset Fund			153,382			4,969		6,754				149,518
EDGE MidCap Fund			163,524			10,980		—				172,899
Equity Income Fund			541,804			29,029		6,646				542,879
Global Multi-Strategy Fund			180,024			10,802		12,596				167,328
Global Real Estate Securities Fund			133,513			3,407		3,432				142,159
Government & High Quality Bond Fund			263,272			1,993		22,026				249,629
High Yield Fund			74,715			1,240		6,228				68,592
Income Fund			527,176			4,852		36,280				503,955
Inflation Protection Fund			74,404			2,082		5,343				70,660
International Emerging Markets Fund			52,620			1,741		—				55,967
International Small Company Fund			52,000			4,171		—				52,093
Preferred Securities Fund			123,911			1,998		7,862				117,441
Principal Active Global Dividend Income ETF			200,557			—		—				201,297
Principal EDGE Active Income ETF			55,509			—		—				54,820
Principal Government Money Market Fund 2.32%			16,930			8,693		12,511				13,112
Principal Investment Grade Corporate Active ETF			67,300			—		—				68,795
Principal U.S. Mega-Cap Multi-Factor Index ETF			455,129			—		—				449,380
Principal U.S. Small-Cap Multi-Factor Index ETF			98,261			2,459		—				97,498
Real Estate Debt Income Fund			48,642			517		3,790				46,014
Short-Term Income Fund			338,457			2,356		25,957				316,961
	$		4,461,550	$		157,097	$	153,678	$			4,408,673
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income		on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		48	$		(220	) $			25,207	$	(9,866	)
Diversified International Fund			8,912			31				22,045		(24,244	)
Diversified Real Asset Fund			4,877			(64	)			—		(2,015	)
EDGE MidCap Fund			2,621			—				7,029		(1,605	)
Equity Income Fund			7,502			(434	)			21,021		(20,874	)
Global Multi-Strategy Fund			7,021			(175	)			3,712		(10,727	)
Global Real Estate Securities Fund			2,426			(159	)			913		8,830
Government & High Quality Bond Fund			1,902		(1,024		)			—		7,414
High Yield Fund			1,171			(434	)			—		(701	)
Income Fund			4,668		(1,307		)			—		9,514
Inflation Protection Fund			2,082			(202	)			—		(281	)
International Emerging Markets Fund			620			—				1,121		1,606
International Small Company Fund			1,501			—				2,671		(4,078	)
Preferred Securities Fund			1,929			(648	)			—		42
Principal Active Global Dividend Income ETF			1,117			—				2,296		740
Principal EDGE Active Income ETF			655			—				478		(689	)
Principal Government Money Market Fund 2.32%			85			—				—		—
Principal Investment Grade Corporate Active ETF			681			—				59		1,495
Principal U.S. Mega-Cap Multi-Factor Index ETF			2,896			—				—		(5,749	)
Principal U.S. Small-Cap Multi-Factor Index ETF			431			—				—		(3,222	)
Real Estate Debt Income Fund			517			(112	)			—		757
Short-Term Income Fund			2,081			(407	)			—		2,512
	$		55,743	$	(5,155		) $			86,552	$	(51,141	)
Amounts in thousands

See accompanying notes.

222

			Schedule of Investments
	SAM Conservative Balanced Portfolio
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.07%	Shares Held                                       Value (000's)
Money Market Funds - 0.50%
Principal Government Money Market Fund	8,312,067	$	8,312
2.32%(a),(b)
Principal Exchange-Traded Funds - 14.23%
Principal Active Global Dividend Income ETF (a)	1,207,000		31,521
Principal EDGE Active Income ETF (a)	1,047,000		40,823
Principal Investment Grade Corporate Active	1,517,600		37,636
ETF (a)
Principal U.S. Mega-Cap Multi-Factor Index	4,014,000		106,692
ETF (a)
Principal U.S. Small-Cap Multi-Factor Index	722,700		22,035
ETF (a)
	$		238,707
Principal Funds, Inc. Class R-6 - 45.91%
Blue Chip Fund (a)	4,257,260		93,873
Diversified Real Asset Fund (a)	4,516,278		49,815
EDGE MidCap Fund (a)	3,052,640		40,722
Global Diversified Income Fund (a)	3,411,864		45,241
Global Multi-Strategy Fund (a)	6,288,909		65,027
Global Real Estate Securities Fund (a)	4,140,684		40,744
High Yield Fund (a)	6,039,422		42,034
Income Fund (a)	30,148,938		281,893
International Emerging Markets Fund (a)	552,634		13,540
International Small Company Fund (a)	1,331,424		13,514
Preferred Securities Fund (a)	7,031,629		68,347
Real Estate Debt Income Fund (a)	1,606,660		15,231
	$		769,981
Principal Funds, Inc. Institutional Class - 39.43%
Diversified International Fund (a)	10,694,158		123,518
Equity Income Fund (a)	4,653,042		138,149
Government & High Quality Bond Fund (a)	16,232,117		165,730
Inflation Protection Fund (a)	5,365,935		44,376
Short-Term Income Fund (a)	15,686,668		189,495
	$		661,268
TOTAL INVESTMENT COMPANIES	$		1,678,268
Total Investments	$		1,678,268
Other Assets and Liabilities -  (0.07)%			(1,122	)
TOTAL NET ASSETS - 100.00%	$		1,677,146

(a)	Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.
(b)	Current yield shown is as of period end.

Portfolio Summary  (unaudited)
Fund Type	Percent
Fixed Income Funds	52.80	%
Domestic Equity Funds	23.94	%
International Equity Funds	13.28	%
Specialty Funds	9.55	%
Investment Companies	0.50	%
Other Assets and Liabilities	(0.07	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

223

Schedule of Investments
SAM Conservative Balanced Portfolio
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		88,014	$		8,541	$	244	$			93,873
Diversified International Fund			119,635			11,285		1,350				123,518
Diversified Real Asset Fund			49,763			2,103		1,397				49,815
EDGE MidCap Fund			38,081			3,252		246				40,722
Equity Income Fund			133,672			10,707		980				138,149
Global Diversified Income Fund			45,951			968		2,078				45,241
Global Multi-Strategy Fund			68,059			4,667		3,551				65,027
Global Real Estate Securities Fund			37,573			1,889		1,203				40,744
Government & High Quality Bond Fund			167,676			2,405		8,471				165,730
High Yield Fund			42,959			1,296		1,603				42,034
Income Fund			284,817			4,056		11,508				281,893
Inflation Protection Fund			44,483			1,783		1,596				44,376
International Emerging Markets Fund			12,627			524		—				13,540
International Small Company Fund			13,381			1,179		—				13,514
Preferred Securities Fund			69,754			1,709		2,815				68,347
Principal Active Global Dividend Income ETF			31,405			—		—				31,521
Principal EDGE Active Income ETF			41,335			—		—				40,823
Principal Government Money Market Fund 2.32%			9,090			2,614		3,392				8,312
Principal Investment Grade Corporate Active ETF			36,819			—		—				37,636
Principal U.S. Mega-Cap Multi-Factor Index ETF			108,057			—		—				106,692
Principal U.S. Small-Cap Multi-Factor Index ETF			21,906			848		—				22,035
Real Estate Debt Income Fund			15,662			168		810				15,231
Short-Term Income Fund			193,957			3,074		8,790				189,495
	$		1,674,676	$		63,068	$	50,034	$			1,678,268
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income		on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		12	$		(21	) $			6,193	$	(2,417	)
Diversified International Fund			2,231			(6	)			5,517		(6,046	)
Diversified Real Asset Fund			1,603			(50	)			—		(604	)
EDGE MidCap Fund			611			1				1,639		(366	)
Equity Income Fund			1,885			(2	)			5,273		(5,248	)
Global Diversified Income Fund			634			(136	)			—		536
Global Multi-Strategy Fund			2,688			(111	)			1,418		(4,037	)
Global Real Estate Securities Fund			683			(53	)			257		2,538
Government & High Quality Bond Fund			1,228			(600	)			—		4,720
High Yield Fund			690			(117	)			—		(501	)
Income Fund			2,554			(494	)			—		5,022
Inflation Protection Fund			1,283			(62	)			—		(232	)
International Emerging Markets Fund			149			—				269		389
International Small Company Fund			386			—				687		(1,046	)
Preferred Securities Fund			1,102			(223	)			—		(78	)
Principal Active Global Dividend Income ETF			175			—				360		116
Principal EDGE Active Income ETF			487			—				356		(512	)
Principal Government Money Market Fund 2.32%			49			—				—		—
Principal Investment Grade Corporate Active ETF			372			—				32		817
Principal U.S. Mega-Cap Multi-Factor Index ETF			688			—				—		(1,365	)
Principal U.S. Small-Cap Multi-Factor Index ETF			97			—				—		(719	)
Real Estate Debt Income Fund			168			(25	)			—		236
Short-Term Income Fund			1,213			(153	)			—		1,407
	$		20,988	$	(2,052		) $			22,001	$	(7,390	)
Amounts in thousands

See accompanying notes.

224

			Schedule of Investments
	SAM Conservative Growth Portfolio
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.07%	Shares Held                                      Value (000's)
Money Market Funds - 0.25%
Principal Government Money Market Fund	7,247,216	$	7,247
2.32%(a),(b)
Principal Exchange-Traded Funds - 20.67%
Principal Active Global Dividend Income ETF (a)	3,580,000		93,492
Principal Investment Grade Corporate Active	816,000		20,237
ETF (a)
Principal U.S. Mega-Cap Multi-Factor Index	15,051,400		400,066
ETF (a)
Principal U.S. Small-Cap Multi-Factor Index	3,039,800		92,683
ETF (a)
	$		606,478
Principal Funds, Inc. Class R-6 - 38.84%
Blue Chip Fund (a)	15,610,683		344,216
Diversified Real Asset Fund (a)	10,019,268		110,512
EDGE MidCap Fund (a)	13,235,689		176,564
Global Multi-Strategy Fund (a)	4,264,591		44,096
Global Real Estate Securities Fund (a)	10,734,911		105,631
Income Fund (a)	14,931,402		139,609
International Small Company Fund (a)	4,431,309		44,978
Multi-Manager Equity Long/Short Fund (a)	7,883,657		72,135
Origin Emerging Markets Fund (a)	5,424,887		55,280
Preferred Securities Fund (a)	4,770,507		46,369
	$		1,139,390
Principal Funds, Inc. Institutional Class - 40.31%
Diversified International Fund (a)	41,131,337		475,067
Equity Income Fund (a)	16,514,860		490,326
Government & High Quality Bond Fund (a)	8,147,376		83,185
Short-Term Income Fund (a)	11,089,140		133,957
	$		1,182,535
TOTAL INVESTMENT COMPANIES	$		2,935,650
Total Investments	$		2,935,650
Other Assets and Liabilities -  (0.07)%			(1,953	)
TOTAL NET ASSETS - 100.00%	$		2,933,697

(a)	Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.
(b)	Current yield shown is as of period end.

Portfolio Summary  (unaudited)
Fund Type	Percent
Domestic Equity Funds	51.26	%
International Equity Funds	26.39	%
Fixed Income Funds	14.44	%
Specialty Funds	7.73	%
Investment Companies	0.25	%
Other Assets and Liabilities	(0.07	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

225

Schedule of Investments
SAM Conservative Growth Portfolio
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		336,612	$		25,791	$	8,674	$			344,216
Diversified International Fund			470,235			34,708		5,988				475,067
Diversified Real Asset Fund			115,915			3,731		7,524				110,512
EDGE MidCap Fund			167,012			11,989		858				176,564
Equity Income Fund			497,675			26,934		14,735				490,326
Global Multi-Strategy Fund			48,758			2,948		4,671				44,096
Global Real Estate Securities Fund			102,719			2,646		6,195				105,631
Government & High Quality Bond Fund			90,324			646		9,954				83,185
Income Fund			150,285			1,316		14,284				139,609
International Small Company Fund			45,477			3,661		644				44,978
Multi-Manager Equity Long/Short Fund			77,086			8,322		5,218				72,135
Origin Emerging Markets Fund			52,800			944		428				55,280
Preferred Securities Fund			49,753			771		3,903				46,369
Principal Active Global Dividend Income ETF			93,148			—		—				93,492
Principal Government Money Market Fund 2.32%			11,394			4,842		8,989				7,247
Principal Investment Grade Corporate Active ETF			19,797			—		—				20,237
Principal U.S. Mega-Cap Multi-Factor Index ETF			405,184			—		—				400,066
Principal U.S. Small-Cap Multi-Factor Index ETF			94,426			1,347		—				92,683
Short-Term Income Fund			146,632			1,055		14,623				133,957
	$		2,975,232	$		131,651	$	106,688	$			2,935,650
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income		on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		44	$	(1,268		) $			23,192	$	(8,245	)
Diversified International Fund			8,668			(357	)			21,478		(23,531	)
Diversified Real Asset Fund			3,633			(236	)			—		(1,374	)
EDGE MidCap Fund			2,672			10				7,167		(1,589	)
Equity Income Fund			6,820		(1,626		)			19,139		(17,922	)
Global Multi-Strategy Fund			1,885			129				998		(3,068	)
Global Real Estate Securities Fund			1,825			(302	)			692		6,763
Government & High Quality Bond Fund			646			(418	)			—		2,587
Income Fund			1,316			(505	)			—		2,797
International Small Company Fund			1,294			54				2,302		(3,570	)
Multi-Manager Equity Long/Short Fund			1,137			(314	)			7,120		(7,741	)
Origin Emerging Markets Fund			879			83				—		1,881
Preferred Securities Fund			771			(243	)			—		(9	)
Principal Active Global Dividend Income ETF			519			—				1,066		344
Principal Government Money Market Fund 2.32%			51			—				—		—
Principal Investment Grade Corporate Active ETF			200			—				18		440
Principal U.S. Mega-Cap Multi-Factor Index ETF			2,579			—				—		(5,118	)
Principal U.S. Small-Cap Multi-Factor Index ETF			410			—				—		(3,090	)
Short-Term Income Fund			893			(199	)			—		1,092
	$		36,242	$	(5,192		) $			83,172	$	(59,353	)
Amounts in thousands

See accompanying notes.

226

			Schedule of Investments
	SAM Flexible Income Portfolio
	January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.10%	Shares Held                                     Value (000's)
Money Market Funds - 1.07%
Principal Government Money Market Fund	27,497,854	$	27,498
2.32%(a),(b)
Principal Exchange-Traded Funds - 15.94%
Principal Active Global Dividend Income ETF (a)	6,584,100		171,944
Principal EDGE Active Income ETF (a)	1,664,800		64,910
Principal Investment Grade Corporate Active	3,197,000		79,286
ETF (a)
Principal U.S. Mega-Cap Multi-Factor Index	3,448,200		91,653
ETF (a)
	$		407,793
Principal Funds, Inc. Class R-6 - 46.21%
Blue Chip Fund (a)	1,488,554		32,823
EDGE MidCap Fund (a)	2,936,608		39,174
Global Diversified Income Fund (a)	9,639,268		127,817
Global Real Estate Securities Fund (a)	10,367,567		102,017
High Yield Fund (a)	16,297,479		113,430
Income Fund (a)	62,772,785		586,925
Preferred Securities Fund (a)	13,655,207		132,729
Real Estate Debt Income Fund (a)	5,018,380		47,574
	$		1,182,489
Principal Funds, Inc. Institutional Class - 36.88%
Equity Income Fund (a)	5,604,307		166,392
Government & High Quality Bond Fund (a)	28,247,918		288,411
Inflation Protection Fund (a)	20,221,701		167,234
Short-Term Income Fund (a)	26,634,630		321,746
	$		943,783
TOTAL INVESTMENT COMPANIES	$		2,561,563
Total Investments	$		2,561,563
Other Assets and Liabilities -  (0.10)%			(2,636	)
TOTAL NET ASSETS - 100.00%	$		2,558,927

(a)	Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.0% or more of the outstanding voting shares of the security). Please see affiliated sub-schedule for transactional information.
(b)	Current yield shown is as of period end.

Portfolio Summary  (unaudited)
Fund Type	Percent
Fixed Income Funds	70.44	%
Domestic Equity Funds	12.89	%
International Equity Funds	10.71	%
Specialty Funds	4.99	%
Investment Companies	1.07	%
Other Assets and Liabilities	(0.10	)%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

227

Schedule of Investments
SAM Flexible Income Portfolio
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018			Purchases			Sales		January 31, 2019
		Value			Cost			Proceeds				Value
Blue Chip Fund	$		30,602	$		3,073	$	— $				32,823
EDGE MidCap Fund			33,839			5,666		—				39,174
Equity Income Fund			160,271			12,455		—				166,392
Global Diversified Income Fund			128,953			2,244		4,524				127,817
Global Real Estate Securities Fund			94,180			3,162		1,509				102,017
Government & High Quality Bond Fund			290,264			2,900		11,915				288,411
High Yield Fund			114,735			2,582		2,263				113,430
Income Fund			597,454			6,422		26,403				586,925
Inflation Protection Fund			167,139			5,467		4,251				167,234
Preferred Securities Fund			134,466			2,593		3,771				132,729
Principal Active Global Dividend Income ETF			170,011			1,284		—				171,944
Principal EDGE Active Income ETF			65,726			—		—				64,910
Principal Government Money Market Fund 2.32%			26,494			5,814		4,810				27,498
Principal Investment Grade Corporate Active ETF			77,563			—		—				79,286
Principal U.S. Mega-Cap Multi-Factor Index ETF			92,825			—		—				91,653
Real Estate Debt Income Fund			49,337			594		3,017				47,574
Short-Term Income Fund			334,632			2,770		17,780				321,746
	$		2,568,491	$		57,026	$	80,243	$			2,561,563
			Realized Gain/Loss					Realized Gain from				Change in Unrealized
			Income		on Investments			Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$		4	$		— $				2,165	$	(852	)
EDGE MidCap Fund			591			—				1,586		(331	)
Equity Income Fund			2,280			—				6,381		(6,334	)
Global Diversified Income Fund			1,792			(336	)			—		1,480
Global Real Estate Securities Fund			1,723			(76	)			648		6,260
Government & High Quality Bond Fund			2,133		(1,019		)			—		8,181
High Yield Fund			1,859			(147	)			—		(1,477	)
Income Fund			5,337		(1,302		)			—		10,754
Inflation Protection Fund			4,846			(172	)			—		(949	)
Preferred Securities Fund			2,142			(302	)			—		(257	)
Principal Active Global Dividend Income ETF			947			—				1,946		649
Principal EDGE Active Income ETF			775			—				565		(816	)
Principal Government Money Market Fund 2.32%			144			—				—		—
Principal Investment Grade Corporate Active ETF			785			—				68		1,723
Principal U.S. Mega-Cap Multi-Factor Index ETF			591			—				—		(1,172	)
Real Estate Debt Income Fund			526			(92	)			—		752
Short-Term Income Fund			2,069			(353	)			—		2,477
	$		28,544	$	(3,799		) $			13,359	$	20,088
Amounts in thousands

See accompanying notes.

228

Schedule of Investments
SAM Strategic Growth Portfolio
January 31, 2019 (unaudited)
INVESTMENT COMPANIES - 100.07%	Shares Held        Value (000's)						(a)		Affiliated Security. Security is either an affiliate (and registered under the
Money Market Funds - 0.30%									Investment Company Act of 1940) or an affiliate as defined by the Investment
Principal Government Money Market Fund	5,339,698			$	5,340				Company Act of 1940 (controls 5.0% or more of the outstanding voting
2.32%(a),(b)									shares of the security). Please see affiliated sub-schedule for transactional
Principal Exchange-Traded Funds - 27.72%									information.
Principal Active Global Dividend Income ETF (a)	3,889,000				101,561		(b)		Current yield shown is as of period end.
Principal EDGE Active Income ETF (a)	2,022,300				78,849
Principal U.S. Mega-Cap Multi-Factor Index	9,084,800				241,474					Portfolio Summary  (unaudited)
ETF (a)										Fund Type						Percent
Principal U.S. Small-Cap Multi-Factor Index	2,499,500				76,210		Domestic Equity Funds									57.59	%
ETF (a)							International Equity Funds									35.98	%
			$		498,094		Fixed Income Funds									6.20	%
Principal Funds, Inc. Class R-6 - 32.48%							Investment Companies									0.30	%
Blue Chip Fund (a)	12,075,193				266,258		Other Assets and Liabilities									(0.07	)%
EDGE MidCap Fund (a)	8,816,197				117,608		TOTAL NET ASSETS									100.00	%
Global Real Estate Securities Fund (a)	10,791,236				106,186
International Small Company Fund (a)	3,023,229				30,686
Origin Emerging Markets Fund (a)	6,183,548				63,010
			$		583,748
Principal Funds, Inc. Institutional Class - 39.57%
Diversified International Fund (a)	29,892,843				345,262
Equity Income Fund (a)	11,223,871				333,237
Short-Term Income Fund (a)	2,695,109				32,557
			$		711,056
TOTAL INVESTMENT COMPANIES			$		1,798,238
Total Investments		$	1,798,238
Other Assets and Liabilities -  (0.07)%					(1,254	)
TOTAL NET ASSETS - 100.00%			$		1,796,984
Affiliated Securities			October 31, 2018						Purchases			Sales		January 31, 2019
			Value						Cost			Proceeds				Value
Blue Chip Fund	$				265,454			$		20,113	$	11,595	$			266,258
Diversified International Fund					349,344					26,951		13,030				345,262
EDGE MidCap Fund					116,467					8,692		6,201				117,608
Equity Income Fund					341,313					19,050		13,611				333,237
Global Real Estate Securities Fund					101,938					2,727		4,987				106,186
International Small Company Fund					32,375					2,622		1,738				30,686
Origin Emerging Markets Fund					63,856					1,067		4,058				63,010
Principal Active Global Dividend Income ETF					101,188					—		—				101,561
Principal EDGE Active Income ETF					79,840					—		—				78,849
Principal Government Money Market Fund 2.32%					8,520					5,283		8,463				5,340
Principal U.S. Mega-Cap Multi-Factor Index ETF					244,563					—		—				241,474
Principal U.S. Small-Cap Multi-Factor Index ETF					76,607					2,121		—				76,210
Short-Term Income Fund					34,803					281		2,746				32,557
	$				1,816,268			$		88,907	$	66,429	$			1,798,238
					Realized Gain/Loss							Realized Gain from				Change in Unrealized
					Income		on Investments					Capital Gain Distributions				Gain/Loss
Blue Chip Fund	$				34	$			(1,911		) $			18,166	$	(5,803	)
Diversified International Fund					6,364					(910	)			15,880		(17,093	)
EDGE MidCap Fund					1,819					(971	)			4,907		(379	)
Equity Income Fund					4,657				(1,780		)			13,094		(11,735	)
Global Real Estate Securities Fund					1,836					(225	)			693		6,733
International Small Company Fund					907					(17	)			1,624		(2,556	)
Origin Emerging Markets Fund					1,029					(43	)			—		2,188
Principal Active Global Dividend Income ETF					564					—				1,158		373
Principal EDGE Active Income ETF					942					—				687		(991	)
Principal Government Money Market Fund 2.32%					40					—				—		—
Principal U.S. Mega-Cap Multi-Factor Index ETF					1,556					—				—		(3,089	)
Principal U.S. Small-Cap Multi-Factor Index ETF					337					—				—		(2,518	)
Short-Term Income Fund					216					(35	)			—		254
	$		20,301			$			(5,892		) $			56,209	$	(34,616	)
Amounts in thousands

See accompanying notes.

229

     Schedule of Investments Short-Term Income Fund January 31, 2019 (unaudited)

INVESTMENT COMPANIES - 0.30%		Shares Held       Value (000's)					Principal
Money Market Funds - 0.30%					BONDS (continued)	Amount (000’s)		Value (000’s)
Principal Government Money Market Fund		14,373,785	$	14,374	Automobile Asset Backed Securities (continued)
2.32%(a),(b)					CPS Auto Receivables Trust 2014-C
TOTAL INVESTMENT COMPANIES		$		14,374	3.77%, 08/17/2020(c)	$	2,695	$	2,698
		Principal			CPS Auto Receivables Trust 2015-A
BONDS - 97.03%	Amount (000's)       Value (000's)				2.79%, 02/16/2021(c)		1,562		1,561
Aerospace & Defense - 1.09%					CPS Auto Receivables Trust 2017-B
General Dynamics Corp					1.75%, 07/15/2020(c)		47		47
2.88%, 05/11/2020	$	6,800	$	6,815	CPS Auto Receivables Trust 2017-D
3.00%, 05/11/2021		9,750		9,809	1.87%, 03/15/2021(c)		1,645		1,641
Northrop Grumman Corp					CPS Auto Receivables Trust 2018-A
2.08%, 10/15/2020		4,850		4,793	2.16%, 05/17/2021(c)		4,069		4,059
Rockwell Collins Inc					CPS Auto Receivables Trust 2018-B
1.95%, 07/15/2019		5,000		4,979	2.72%, 09/15/2021(c)		7,406		7,383
3.20%, 03/15/2024		6,750		6,589	CPS Auto Receivables Trust 2018-D
United Technologies Corp					3.06%, 01/18/2022(c)		19,510		19,500
1.50%, 11/01/2019		9,600		9,508	CPS Auto Receivables Trust 2019-A
1.90%, 05/04/2020		9,400		9,274	3.18%, 06/15/2022(c)		8,000		8,003
		$		51,767	CPS Auto Trust
Airlines - 0.57%					1.68%, 08/17/2020(c)		469		469
American Airlines 2013-2 Class A Pass Through					2.87%, 09/15/2021(c)		9,084		9,076
Trust					Ford Credit Auto Owner Trust 2015-REV2
4.95%, 07/15/2024		10,041		10,255	2.44%, 01/15/2027(c)		12,327		12,218
Continental Airlines 2009-2 Class A Pass Through					Ford Credit Auto Owner Trust 2016-REV2
Trust					2.03%, 12/15/2027(c)		14,000		13,696
7.25%, 05/10/2021		5,885		6,026	Ford Credit Auto Owner Trust 2017-REV1
Delta Air Lines 2009-1 Class A Pass Through					2.62%, 08/15/2028(c)		11,500		11,357
Trust					Ford Credit Auto Owner Trust 2019-REV1
7.75%, 06/17/2021		6,866		7,087	3.52%, 07/15/2030(c)		11,700		11,757
Delta Air Lines 2012-1 Class A Pass Through					Ford Credit Auto Owner Trust/Ford Credit
Trust					3.47%, 01/15/2030(c)		14,600		14,713
4.75%, 11/07/2021		3,478		3,519	Ford Credit Auto Owner Trust/Ford Credit
		$		26,887	2014-REV1
Automobile Asset Backed Securities - 8.76%					2.26%, 11/15/2025(c)		11,327		11,303
AmeriCredit Automobile Receivables 2015-4					OneMain Direct Auto Receivables Trust 2017-2
3.72%, 12/08/2021		6,390		6,433	2.31%, 12/14/2021(c)		20,474		20,360
AmeriCredit Automobile Receivables Trust					OneMain Direct Auto Receivables Trust 2018-1
2014-2					3.43%, 12/16/2024(c)		16,000		16,046
2.57%, 07/08/2020		7,702		7,700	Santander Drive Auto Receivables Trust 2015-2
AmeriCredit Automobile Receivables Trust					2.44%, 04/15/2021		1,634		1,632
2014-3					3.02%, 04/15/2021		6,420		6,417
2.58%, 09/08/2020		113		113	Santander Drive Auto Receivables Trust 2018-1
AmeriCredit Automobile Receivables Trust					2.10%, 11/16/2020		1,578		1,577
2015-2					Santander Drive Auto Receivables Trust 2018-2
3.00%, 06/08/2021		3,000		2,998	2.58%, 10/15/2020		9,382		9,376
AmeriCredit Automobile Receivables Trust					Santander Drive Auto Receivables Trust 2018-3
2015-3					2.78%, 03/15/2021		10,047		10,037
2.73%, 03/08/2021		8,300		8,286	Santander Drive Auto Receivables Trust 2018-4
AmeriCredit Automobile Receivables Trust					2.73%, 04/15/2021		6,577		6,569
2017-4					3.01%, 03/15/2022		7,800		7,803
1.83%, 05/18/2021		6,105		6,094	Santander Drive Auto Receivables Trust 2018-5
Americredit Automobile Receivables Trust 2018-1					2.97%, 07/15/2021		17,600		17,600
3.07%, 12/19/2022		9,750		9,765	TCF Auto Receivables Owner Trust 2016-PT1
Americredit Automobile Receivables Trust 2018-2					1.93%, 06/15/2022(c)		7,931		7,859
3.15%, 03/20/2023		6,800		6,816	Westlake Automobile Receivables Trust 2016-3
Americredit Automobile Receivables Trust 2018-3					2.07%, 12/15/2021(c)		177		176
3.11%, 01/18/2022		14,250		14,266	Westlake Automobile Receivables Trust 2017-1
Bank of The West Auto Trust 2017-1					2.30%, 10/17/2022(c)		3,024		3,021
1.78%, 02/15/2021(c)		2,672		2,663	Westlake Automobile Receivables Trust 2017-2
Bank of The West Auto Trust 2018-1					1.80%, 07/15/2020(c)		1,763		1,760
3.09%, 04/15/2021(c)		16,600		16,616	Westlake Automobile Receivables Trust 2018-1
Capital Auto Receivables Asset Trust 2015-2					2.24%, 12/15/2020(c)		8,874		8,854
2.29%, 05/20/2020		1,029		1,029	Westlake Automobile Receivables Trust 2018-2
Capital Auto Receivables Asset Trust 2017-1					2.84%, 09/15/2021(c)		7,714		7,702
1.76%, 06/22/2020(c)		1,375		1,373	3.20%, 01/16/2024(c)		7,800		7,792
Capital Auto Receivables Asset Trust 2018-1					Westlake Automobile Receivables Trust 2018-3
2.54%, 10/20/2020(c)		10,512		10,497	2.98%, 01/18/2022(c)		11,700		11,700
Capital Auto Receivables Asset Trust 2018-2					3.32%, 10/16/2023(c)		10,700		10,739
3.02%, 02/22/2021(c)		12,500		12,504
3.27%, 06/20/2023(c)		9,750		9,776

See accompanying notes.

230

     Schedule of Investments Short-Term Income Fund January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)      Value (000’s)				BONDS (continued)	Amount (000’s)		Value (000’s)
Automobile Asset Backed Securities (continued)					Banks (continued)
World Omni Select Auto Trust 2018-1					Capital One NA
3.24%, 04/15/2022(c)	$	12,350	$	12,378	1.85%, 09/13/2019	$	9,500	$	9,441
		$		415,808	3.54%, 09/13/2019		9,500		9,516
Automobile Floor Plan Asset Backed Securities - 1.87%					3 Month USD LIBOR + 0.77%
Ally Master Owner Trust					3.90%, 01/30/2023		14,400		14,369
2.70%, 01/17/2023		14,250		14,139	3 Month USD LIBOR + 1.15%
3.29%, 05/15/2023		19,500		19,617	Citigroup Inc
BMW Floorplan Master Owner Trust					2.70%, 03/30/2021		14,100		14,004
2.83%, 05/15/2023(c)		4,500		4,500	3.50%, 05/15/2023		9,750		9,717
1.00 x 1 Month USD LIBOR + 0.32%					3.73%, 04/25/2022		19,800		19,860
Ford Credit Floorplan Master Owner Trust A					3 Month USD LIBOR + 0.96%
2.91%, 10/15/2023		8,750		8,729	3.74%, 05/17/2024		4,750		4,746
1.00 x 1 Month USD LIBOR + 0.40%					3 Month USD LIBOR + 1.10%
2.97%, 11/15/2021		6,700		6,708	4.00%, 08/05/2024		10,750		10,832
1.00 x 1 Month USD LIBOR + 0.46%					4.17%, 09/01/2023		10,000		10,143
Navistar Financial Dealer Note Master Owner					3 Month USD LIBOR + 1.43%
Trust II					Credit Suisse Group AG
3.14%, 09/25/2023(c)		11,500		11,497	4.02%, 06/12/2024(c)		9,750		9,643
1.00 x 1 Month USD LIBOR + 0.63%					3 Month USD LIBOR + 1.24%
Volvo Financial Equipment Master Owner Trust					4.21%, 06/12/2024(c),(d)		8,150		8,177
3.01%, 11/15/2022(c)		8,750		8,768	3 Month USD LIBOR + 1.24%
1.00 x 1 Month USD LIBOR + 0.50%					Fifth Third Bancorp
3.03%, 07/17/2023(c)		14,600		14,614	2.60%, 06/15/2022		13,400		13,086
1.00 x 1 Month USD LIBOR + 0.52%					3.65%, 01/25/2024		9,800		9,875
		$		88,572	4.30%, 01/16/2024		15,700		16,086
Automobile Manufacturers - 1.35%					Fifth Third Bank/Cincinnati OH
Daimler Finance North America LLC					1.63%, 09/27/2019		4,750		4,713
1.75%, 10/30/2019(c)		6,650		6,589	2.25%, 06/14/2021		7,700		7,557
Ford Motor Credit Co LLC					2.30%, 03/15/2019		7,600		7,596
2.02%, 05/03/2019		9,600		9,572	Goldman Sachs Group Inc/The
4.08%, 03/28/2022		5,000		4,767	2.30%, 12/13/2019		9,600		9,552
3 Month USD LIBOR + 1.27%					2.60%, 04/23/2020		9,600		9,550
General Motors Financial Co Inc					3.00%, 04/26/2022		19,200		18,990
3.65%, 04/09/2021		9,700		9,572	3.20%, 02/23/2023		10,000		9,944
3 Month USD LIBOR + 0.85%					3.87%, 04/26/2022		25,000		25,094
4.15%, 06/19/2023		4,850		4,776	3 Month USD LIBOR + 1.11%
PACCAR Financial Corp					3.93%, 04/23/2020		9,600		9,666
2.20%, 09/15/2019		9,327		9,276	3 Month USD LIBOR + 1.16%
3.10%, 05/10/2021		9,750		9,799	4.46%, 02/25/2021		9,600		9,831
Toyota Motor Credit Corp					3 Month USD LIBOR + 1.77%
2.60%, 01/11/2022		9,600		9,530	HSBC Holdings PLC
		$		63,881	3.64%, 05/18/2024		9,750		9,666
Banks - 19.81%					3 Month USD LIBOR + 1.00%
Bank of America Corp					ING Groep NV
2.50%, 10/21/2022		12,000		11,727	3.15%, 03/29/2022		6,800		6,750
2.63%, 10/19/2020		15,750		15,678	3.95%, 03/29/2022		9,750		9,774
3.00%, 12/20/2023(d)		10,347		10,215	3 Month USD LIBOR + 1.15%
3 Month USD LIBOR + 0.79%					JPMorgan Chase & Co
3.92%, 01/20/2023		28,400		28,624	2.30%, 08/15/2021		9,500		9,337
3 Month USD LIBOR + 1.16%					3.67%, 04/25/2023		38,500		38,383
4.20%, 08/26/2024		24,500		25,079	3 Month USD LIBOR + 0.90%
Bank of New York Mellon Corp/The					3.88%, 09/10/2024		5,249		5,323
2.20%, 05/15/2019		11,327		11,312	4.01%, 10/24/2023		15,000		15,184
2.50%, 04/15/2021		5,700		5,653	3 Month USD LIBOR + 1.23%
3.80%, 10/30/2023		24,500		24,707	4.25%, 10/15/2020		22,250		22,698
3 Month USD LIBOR + 1.05%					KeyBank NA/Cleveland OH
BB&T Corp					2.35%, 03/08/2019		16,350		16,348
2.05%, 05/10/2021		9,500		9,319	2.40%, 06/09/2022		9,600		9,360
3.45%, 04/01/2022		4,900		4,918	3.30%, 02/01/2022(e)		4,750		4,776
3 Month USD LIBOR + 0.65%					KeyCorp
BNP Paribas SA					5.10%, 03/24/2021		20,000		20,840
3.50%, 03/01/2023(c)		19,500		19,333	Morgan Stanley
Branch Banking & Trust Co					3.17%, 02/10/2021		14,500		14,489
2.10%, 01/15/2020		14,400		14,303	3 Month USD LIBOR + 0.55%
2.63%, 01/15/2022		14,400		14,287	4.10%, 05/22/2023		10,200		10,419
					4.16%, 04/21/2021		14,400		14,651
					3 Month USD LIBOR + 1.40%

See accompanying notes.

231

     Schedule of Investments Short-Term Income Fund January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)   Value (000’s)				BONDS (continued)	Amount (000’s) Value (000’s)
Banks (continued)					Biotechnology (continued)
Morgan Stanley   (continued)					Gilead Sciences Inc
4.18%, 10/24/2023	$	38,600	$	39,093	1.85%, 09/20/2019	$	14,700	$	14,620
3 Month USD LIBOR + 1.40%							$		69,919
5.50%, 07/24/2020		9,500		9,835	Building Materials - 0.25%
PNC Bank NA					Martin Marietta Materials Inc
2.00%, 05/19/2020		9,250		9,151	3.29%, 12/20/2019		11,700		11,682
2.70%, 11/01/2022		10,965		10,737	3 Month USD LIBOR + 0.50%
3.00%, 05/19/2020		6,000		6,008	Chemicals - 0.79%
3 Month USD LIBOR + 0.36%					Air Liquide Finance SA
3.26%, 07/27/2022		9,600		9,553	1.75%, 09/27/2021(c)		6,750		6,515
3 Month USD LIBOR + 0.50%					Chevron Phillips Chemical Co LLC / Chevron
PNC Financial Services Group Inc/The					Phillips Chemical Co LP
3.90%, 04/29/2024		9,850		9,968	2.45%, 05/01/2020(c)		4,832		4,798
State Street Corp					3.30%, 05/01/2023(c)		7,300		7,267
3.10%, 05/15/2023		24,100		24,008	DowDuPont Inc
SunTrust Bank/Atlanta GA					3.82%, 11/15/2023		9,750		9,713
2.25%, 01/31/2020		9,600		9,536	3 Month USD LIBOR + 1.11%
2.45%, 08/01/2022		14,400		14,028	International Flavors & Fragrances Inc
3.15%, 08/02/2022		9,750		9,663	3.40%, 09/25/2020		4,900		4,918
3 Month USD LIBOR + 0.59%					Westlake Chemical Corp
SunTrust Banks Inc					3.60%, 07/15/2022		4,100		4,069
2.90%, 03/03/2021		12,500		12,460			$		37,280
UBS AG/London					Commercial Mortgage Backed Securities - 0.88%
2.20%, 06/08/2020(c)		4,750		4,690	Ginnie Mae
3.35%, 06/08/2020(c)		6,750		6,766	0.49%, 09/16/2055(f),(g)		23,299		729
3 Month USD LIBOR + 0.58%					0.70%, 01/16/2054(f),(g)		41,040		1,397
UBS Group Funding Switzerland AG					0.73%, 10/16/2054(f),(g)		47,543		1,554
3.49%, 05/23/2023(c)		11,450		11,357	0.81%, 02/16/2048(f),(g)		28,991		1,209
US Bancorp					0.84%, 02/16/2055(f),(g)		67,276		2,187
3.42%, 01/24/2022		5,751		5,772	0.87%, 01/16/2055(f),(g)		98,123		3,912
3 Month USD LIBOR + 0.64%					1.01%, 08/16/2042(f),(g)		41,172		1,907
3.60%, 09/11/2024		14,400		14,637	1.06%, 06/16/2045(f),(g)		63,517		3,490
US Bank NA/Cincinnati OH					1.16%, 02/16/2046(f),(g)		59,536		2,778
2.00%, 01/24/2020		9,600		9,525	1.25%, 10/16/2051(f),(g)		3,322		234
2.05%, 10/23/2020		9,700		9,568	1.37%, 12/16/2036(f),(g)		52,912		2,779
Wells Fargo & Co					GS Mortgage Securities Trust 2017-GS6
2.60%, 07/22/2020		5,000		4,983	1.95%, 05/10/2050		11,624		11,408
3.89%, 01/24/2023		19,000		19,117	JPMDB Commercial Mortgage Securities Trust
3 Month USD LIBOR + 1.11%					2016-C4
Wells Fargo Bank NA					1.54%, 12/15/2049		8,407		8,228
3.27%, 07/23/2021		14,500		14,491			$		41,812
3 Month USD LIBOR + 0.50%
		$		940,087	Computers - 1.06%
					Apple Inc
Beverages - 1.35%					1.90%, 02/07/2020		4,800		4,771
Anheuser-Busch InBev Finance Inc					2.50%, 02/09/2022		9,600		9,545
3.30%, 02/01/2023		9,600		9,578	Dell International LLC / EMC Corp
Anheuser-Busch InBev Worldwide Inc					3.48%, 06/01/2019(c)		17,385		17,391
3.54%, 01/12/2024		5,350		5,216	International Business Machines Corp
3 Month USD LIBOR + 0.74%					1.95%, 02/12/2019		9,250		9,248
4.15%, 01/23/2025		19,250		19,771	2.25%, 02/19/2021		9,500		9,359
Keurig Dr Pepper Inc							$		50,314
3.55%, 05/25/2021(c)		9,750		9,792
4.06%, 05/25/2023(c)		3,900		3,939	Consumer Products - 0.20%
PepsiCo Inc					Reckitt Benckiser Treasury Services PLC
1.35%, 10/04/2019		6,400		6,343	3.38%, 06/24/2022(c)		9,600		9,473
2.15%, 10/14/2020		9,500		9,442	3 Month USD LIBOR + 0.56%
		$		64,081	Credit Card Asset Backed Securities - 0.16%
Biotechnology - 1.47%					Capital One Multi-Asset Execution Trust
Amgen Inc					3.02%, 09/16/2024		7,700		7,740
2.20%, 05/22/2019		9,327		9,309	1.00 x 1 Month USD LIBOR + 0.51%
2.20%, 05/11/2020		4,800		4,757	Diversified Financial Services - 0.72%
2.65%, 05/11/2022		9,600		9,467	American Express Co
Biogen Inc					3.70%, 11/05/2021		6,850		6,957
2.90%, 09/15/2020		14,000		13,984	Capital One Financial Corp
Celgene Corp					3.90%, 01/29/2024		4,900		4,935
3.25%, 08/15/2022		9,750		9,709	GE Capital International Funding Co Unlimited
3.63%, 05/15/2024		8,100		8,073	Co
					2.34%, 11/15/2020		12,850		12,547

See accompanying notes.

232

     Schedule of Investments Short-Term Income Fund January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)       Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Diversified Financial Services (continued)					Finance - Mortgage Loan/Banker (continued)
GTP Acquisition Partners I LLC					Freddie Mac
2.35%, 06/15/2045(c)	$	10,100	$	9,953	2.38%, 02/16/2021	$	29,500	$	29,430
		$		34,392	2.38%, 01/13/2022		24,000		23,939
Electric - 4.01%					2.75%, 06/19/2023		70,000		70,672
Alabama Power Co							$		597,219
2.45%, 03/30/2022		14,250		13,982	Food - 1.33%
Alliant Energy Finance LLC					Conagra Brands Inc
3.75%, 06/15/2023(c)		5,850		5,887	3.51%, 10/22/2020		9,750		9,702
Black Hills Corp					3 Month USD LIBOR + 0.75%
4.25%, 11/30/2023		17,500		17,934	3.80%, 10/22/2021		4,900		4,919
5.88%, 07/15/2020		1,000		1,033	Kraft Heinz Foods Co
CenterPoint Energy Inc					3.19%, 02/10/2021		9,600		9,519
3.60%, 11/01/2021		14,700		14,821	3 Month USD LIBOR + 0.57%
Dominion Energy Inc					4.00%, 06/15/2023		4,850		4,937
2.58%, 07/01/2020		4,800		4,758	Mondelez International Holdings Netherlands BV
2.96%, 07/01/2019(g)		15,100		15,093	1.63%, 10/28/2019(c)		9,500		9,402
Duke Energy Florida LLC					3.37%, 10/28/2019(c)		9,500		9,512
1.85%, 01/15/2020		9,600		9,515	3 Month USD LIBOR + 0.61%
2.10%, 12/15/2019		1,000		997	Tyson Foods Inc
3.10%, 08/15/2021		5,750		5,770	2.25%, 08/23/2021		3,850		3,752
Emera US Finance LP					3.10%, 08/21/2020		4,800		4,746
2.70%, 06/15/2021		6,700		6,564	3 Month USD LIBOR + 0.45%
Exelon Corp					3.16%, 05/30/2019		6,750		6,745
3.50%, 06/01/2022		22,500		22,327	3 Month USD LIBOR + 0.45%
Fortis Inc/Canada							$		63,234
2.10%, 10/04/2021		16,365		15,763	Gas - 0.08%
Indiantown Cogeneration LP					NiSource Inc
9.77%, 12/15/2020		3,479		3,677	2.65%, 11/17/2022		4,000		3,875
San Diego Gas & Electric Co					Healthcare - Products - 0.41%
1.91%, 02/01/2022		2,399		2,350	Medtronic Global Holdings SCA
Sempra Energy					1.70%, 03/28/2019		14,500		14,481
2.40%, 02/01/2020		9,750		9,657	Medtronic Inc
3.29%, 01/15/2021		14,500		14,304	2.50%, 03/15/2020		4,750		4,740
3 Month USD LIBOR + 0.50%							$		19,221
Southern California Edison Co					Healthcare - Services - 0.64%
1.85%, 02/01/2022		5,854		5,730	Humana Inc
Texas-New Mexico Power Co					2.50%, 12/15/2020		4,900		4,843
9.50%, 04/01/2019(c)		5,650		5,706	Roche Holdings Inc
WEC Energy Group Inc					3.14%, 09/30/2019(c)		9,327		9,335
3.38%, 06/15/2021		14,600		14,654	3 Month USD LIBOR + 0.34%
		$		190,522	UnitedHealth Group Inc
Electronics - 0.46%					1.70%, 02/15/2019		9,500		9,497
Fortive Corp					1.95%, 10/15/2020		6,750		6,668
1.80%, 06/15/2019		1,121		1,115			$		30,343
2.35%, 06/15/2021		6,700		6,545	Home Equity Asset Backed Securities - 0.01%
Honeywell International Inc					RASC Series 2005-AHL2 Trust
1.85%, 11/01/2021		14,400		14,056	2.86%, 10/25/2035		296		296
		$		21,716	1.00 x 1 Month USD LIBOR + 0.35%
Finance - Mortgage Loan/Banker - 12.59%					Housewares - 0.22%
Fannie Mae					Newell Brands Inc
1.38%, 02/26/2021		25,000		24,446	2.60%, 03/29/2019		4,800		4,795
1.38%, 10/07/2021		22,350		21,709	3.85%, 04/01/2023		5,800		5,704
1.50%, 06/22/2020		25,000		24,650			$		10,499
1.50%, 11/30/2020		25,000		24,554
1.63%, 01/21/2020		20,000		19,822	Insurance - 4.36%
1.88%, 12/28/2020		25,000		24,721	Allstate Corp/The
1.88%, 04/05/2022		30,000		29,410	3.43%, 03/29/2023		12,500		12,455
2.00%, 01/05/2022		19,000		18,731	3 Month USD LIBOR + 0.63%
2.00%, 10/05/2022		14,550		14,289	Berkshire Hathaway Finance Corp
2.38%, 01/19/2023		34,300		34,131	1.70%, 03/15/2019		6,500		6,495
2.63%, 09/06/2024		63,450		63,581	3.10%, 01/10/2020		14,500		14,516
2.75%, 06/22/2021		56,025		56,344	3 Month USD LIBOR + 0.32%
2.88%, 10/30/2020		27,200		27,372	Berkshire Hathaway Inc
2.88%, 09/12/2023		63,400		64,374	2.75%, 03/15/2023		5,500		5,463
Federal Home Loan Banks					Five Corners Funding Trust
2.63%, 10/01/2020		25,000		25,044	4.42%, 11/15/2023(c)		24,250		25,171

See accompanying notes.

233

     Schedule of Investments Short-Term Income Fund January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)     Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Insurance (continued)					Mortgage Backed Securities (continued)
MassMutual Global Funding II					CSFB Mortgage-Backed Pass-Through
1.55%, 10/11/2019(c)	$	9,650	$	9,566	Certificates Series 2004-AR4
2.00%, 04/15/2021(c)		13,638		13,323	3.47%, 05/25/2034	$	146	$	145
2.35%, 04/09/2019(c)		16,700		16,692	1.00 x 1 Month USD LIBOR + 0.96%
Metropolitan Life Global Funding I					CSFB Mortgage-Backed Trust Series 2004-7
1.95%, 09/15/2021(c)		15,000		14,570	5.00%, 10/25/2019		27		27
2.30%, 04/10/2019(c)		16,827		16,817	CSMC 2017-HL2 Trust
2.96%, 09/07/2020(c)		9,750		9,735	3.50%, 10/25/2047(c),(g)		15,971		15,892
United States Secured Overnight Financing					JP Morgan Mortgage Trust 2004-A3
Rate + 0.57%					4.29%, 07/25/2034(g)		650		649
3.18%, 06/12/2020(c)		6,750		6,747	JP Morgan Mortgage Trust 2004-S1
3 Month USD LIBOR + 0.40%					5.00%, 09/25/2034		269		270
New York Life Global Funding					JP Morgan Mortgage Trust 2016-4
1.95%, 02/11/2020(c)		9,600		9,520	3.50%, 10/25/2046(c),(g)		12,485		12,447
2.00%, 04/13/2021(c)		9,600		9,397	JP Morgan Mortgage Trust 2017-2
2.15%, 06/18/2019(c)		12,626		12,603	3.50%, 05/25/2047(c),(g)		10,672		10,627
3.29%, 06/10/2022(c)		24,000		23,887	JP Morgan Mortgage Trust 2017-4
3 Month USD LIBOR + 0.52%					3.50%, 11/25/2048(c),(g)		15,547		15,480
		$		206,957	JP Morgan Mortgage Trust 2017-6
Internet - 0.20%					3.50%, 12/25/2048(c),(g)		11,573		11,523
Amazon.com Inc					JP Morgan Mortgage Trust 2018-3
2.60%, 12/05/2019		9,327		9,322	3.50%, 09/25/2048(c),(g)		13,357		13,283
Machinery - Construction & Mining - 0.20%					JP Morgan Mortgage Trust 2018-4
Caterpillar Financial Services Corp					3.50%, 10/25/2048(c),(g)		10,740		10,680
2.55%, 11/29/2022		9,700		9,514	JP Morgan Mortgage Trust 2018-6
Machinery - Diversified - 0.25%					3.50%, 12/25/2048(c),(g)		12,817		12,754
John Deere Capital Corp					JP Morgan Mortgage Trust 2018-9
2.05%, 03/10/2020		4,650		4,607	4.00%, 02/25/2049(c),(g)		7,767		7,851
2.65%, 01/06/2022		7,212		7,168	MASTR Asset Securitization Trust 2004-11
		$		11,775	5.00%, 12/25/2019		4		4
					MASTR Asset Securitization Trust 2004-9
Media - 0.61%					5.00%, 09/25/2019		16		16
Comcast Corp					PHH Mortgage Trust Series 2008-CIM1
3.30%, 10/01/2020		9,750		9,815	5.22%, 06/25/2038		1,298		1,257
Time Warner Cable LLC					1.00 x 1 Month USD LIBOR + 2.25%
8.25%, 04/01/2019		9,495		9,573	Prime Mortgage Trust 2005-2
Walt Disney Co/The					5.25%, 07/25/2020		289		287
1.95%, 03/04/2020		9,500		9,425	Provident Funding Mortgage Loan Trust 2005-1
		$		28,813	3.09%, 05/25/2035		1,576		1,563
Mining - 0.22%					1.00 x 1 Month USD LIBOR + 0.58%
Glencore Finance Canada Ltd					PSMC 2018-1 Trust
4.25%, 10/25/2022(c)		2,000		2,027	3.50%, 02/25/2048(c),(g)		14,012		13,970
Glencore Funding LLC					PSMC 2018-2 Trust
4.13%, 05/30/2023(c)		8,300		8,318	3.50%, 06/25/2048(c),(g)		18,594		18,382
		$		10,345	PSMC 2018-3 Trust
Miscellaneous Manufacturers - 0.59%					4.00%, 08/25/2048(c),(g)		19,682		19,880
General Electric Co					PSMC 2018-4 Trust
5.50%, 01/08/2020		3,850		3,931	4.00%, 11/25/2048(c),(g)		20,471		20,689
Ingersoll-Rand Global Holding Co Ltd					RALI Series 2003-QS23 Trust
2.90%, 02/21/2021		14,500		14,366	5.00%, 12/26/2018		12		12
Siemens Financieringsmaatschappij NV					RALI Series 2004-QS3 Trust
2.20%, 03/16/2020(c)		9,650		9,585	5.00%, 03/25/2019		6		2
		$		27,882	RBSSP Resecuritization Trust 2009-7
Mortgage Backed Securities - 7.18%					2.91%, 06/26/2037(c)		335		332
Alternative Loan Trust 2004-J8					1.00 x 1 Month USD LIBOR + 0.40%
6.00%, 02/25/2017		46		47	Sequoia Mortgage Trust 2013-4
Banc of America Funding 2004-1 Trust					1.55%, 04/25/2043(g)		7,406		6,866
5.25%, 02/25/2019		19		20	Sequoia Mortgage Trust 2013-8
Banc of America Funding 2004-3 Trust					2.25%, 06/25/2043(g)		4,242		4,155
4.75%, 09/25/2019		7		7	Sequoia Mortgage Trust 2017-1
CHL Mortgage Pass-Through Trust 2003-46					3.50%, 02/25/2047(c),(g)		11,381		11,346
4.26%, 01/19/2034(g)		479		476	Sequoia Mortgage Trust 2017-2
CHL Mortgage Pass-Through Trust 2004-J7					3.50%, 02/25/2047(c),(g)		5,380		5,370
5.00%, 09/25/2019		11		11	Sequoia Mortgage Trust 2017-3
Credit Suisse First Boston Mortgage Securities					3.50%, 04/25/2047(c),(g)		10,033		10,037
Corp					Sequoia Mortgage Trust 2018-3
5.00%, 09/25/2019		13		13	3.50%, 03/25/2048(c),(g)		10,746		10,717

See accompanying notes.

234

Schedule of Investments
Short-Term Income Fund
January 31, 2019 (unaudited)
		Principal					Principal
BONDS (continued)	Amount (000’s)         Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
Mortgage Backed Securities (continued)					Other Asset Backed Securities (continued)
Sequoia Mortgage Trust 2018-5					PFS Financing Corp   (continued)
3.50%, 05/25/2048(c),(g)	$	14,274	$	14,248	3.11%, 07/15/2022(c)	$	19,250	$	19,236
Sequoia Mortgage Trust 2018-6					1.00 x 1 Month USD LIBOR + 0.60%
4.00%, 07/25/2048(c),(g)		8,254		8,359	3.19%, 04/17/2023(c)		8,750		8,764
Sequoia Mortgage Trust 2018-7					3.52%, 10/16/2023(c)		6,750		6,788
4.00%, 09/25/2048(c),(g)		9,308		9,417	Trafigura Securitisation Finance PLC 2017-1
Sequoia Mortgage Trust 2018-8					3.36%, 12/15/2020(c)		17,500		17,584
4.00%, 11/25/2048(c),(g)		20,617		20,865	1.00 x 1 Month USD LIBOR + 0.85%
Sequoia Mortgage Trust 2018-CH3					Trafigura Securitisation Finance PLC 2018-1
4.00%, 08/25/2048(c),(g)		8,071		8,143	3.73%, 03/15/2022(c)		22,000		22,110
Sequoia Mortgage Trust 2019-1					Verizon Owner Trust 2016-1
4.00%, 02/25/2049(c),(g)		6,300		6,382	1.42%, 01/20/2021(c)		3,483		3,469
Wells Fargo Mortgage Backed Securities 2018-1					Verizon Owner Trust 2016-2
3.50%, 07/25/2047(c),(g)		17,143		17,091	1.68%, 05/20/2021(c)		22,499		22,395
Wells Fargo Mortgage Backed Securities 2019-1					Verizon Owner Trust 2017-1
Trust					2.06%, 09/20/2021(c)		9,500		9,452
4.00%, 11/25/2048(c),(g)		7,000		7,076	Verizon Owner Trust 2017-2
4.00%, 11/25/2048(c),(g)		12,000		12,127	1.92%, 12/20/2021(c)		15,000		14,877
		$		340,795	Verizon Owner Trust 2017-3
Oil & Gas - 1.27%					2.06%, 04/20/2022(c)		13,200		13,066
BP Capital Markets PLC					Verizon Owner Trust 2018-1
4.75%, 03/10/2019		10,327		10,349	2.82%, 09/20/2022(c)		15,500		15,485
Chevron Corp					Verizon Owner Trust 2018-A
2.90%, 03/03/2024		4,750		4,727	3.23%, 04/20/2023		20,400		20,559
Cimarex Energy Co					Volvo Financial Equipment LLC Series 2018-1
4.38%, 06/01/2024		12,500		12,672	2.26%, 09/15/2020(c)		6,825		6,808
Phillips 66					VSE 2018-A Voi Mortgage LLC
3.54%, 04/15/2020(c)		9,700		9,701	3.56%, 02/20/2036(c)		10,815		10,914
3 Month USD LIBOR + 0.75%							$		311,884
Shell International Finance BV					Packaging & Containers - 0.14%
2.13%, 05/11/2020		11,495		11,430	Packaging Corp of America
2.38%, 08/21/2022		11,700		11,545	2.45%, 12/15/2020		6,800		6,706
		$		60,424	Pharmaceuticals - 1.17%
Oil & Gas Services - 0.20%					AbbVie Inc
Baker Hughes a GE Co LLC / Baker Hughes Co-					2.30%, 05/14/2021		4,800		4,714
Obligor Inc					2.50%, 05/14/2020		6,664		6,624
2.77%, 12/15/2022		9,750		9,532	Bayer US Finance II LLC
Other Asset Backed Securities - 6.57%					3.50%, 06/25/2021(c)		4,750		4,737
CCG Receivables Trust 2018-1					3.80%, 12/15/2023(c)		4,750		4,640
2.50%, 06/16/2025(c)		4,388		4,365	3 Month USD LIBOR + 1.01%
CCG Receivables Trust 2018-2					3.88%, 12/15/2023(c)		5,800		5,792
3.09%, 12/15/2025(c)		19,500		19,515	Cigna Corp
Drug Royalty II LP 2					3.44%, 09/17/2021(c)		14,500		14,413
3.48%, 07/15/2023(c)		2,134		2,127	3 Month USD LIBOR + 0.65%
Drug Royalty III LP 1					CVS Health Corp
3.60%, 04/15/2027(c)		2,634		2,612	3.13%, 03/09/2020		9,800		9,808
3.98%, 04/15/2027(c)		2,569		2,570	Mead Johnson Nutrition Co
4.27%, 10/15/2031(c)		4,121		4,160	3.00%, 11/15/2020		4,750		4,748
4.39%, 10/15/2031(c)		3,394		3,394			$		55,476
1.00 x 3 Month USD LIBOR + 1.60%					Pipelines - 2.34%
5.29%, 04/15/2027(c)		2,634		2,660	Buckeye Partners LP
1.00 x 3 Month USD LIBOR + 2.50%					4.15%, 07/01/2023		11,300		11,157
MMAF Equipment Finance LLC 2018-A					Columbia Pipeline Group Inc
2.92%, 07/12/2021(c)		10,194		10,190	3.30%, 06/01/2020		8,528		8,526
MVW Owner Trust 2015-1					Enterprise Products Operating LLC
2.52%, 12/20/2032(c)		7,011		6,913	3.50%, 02/01/2022		19,500		19,688
MVW Owner Trust 2016-1					Florida Gas Transmission Co LLC
2.25%, 12/20/2033(c)		4,526		4,421	3.88%, 07/15/2022(c)		12,550		12,715
MVW Owner Trust 2018-1					7.90%, 05/15/2019(c)		10,271		10,403
3.45%, 01/21/2036(c)		13,330		13,403	Kinder Morgan Inc/DE
PFS Financing Corp					4.07%, 01/15/2023		14,500		14,454
1.87%, 10/15/2021(c)		5,500		5,452	3 Month USD LIBOR + 1.28%
2.40%, 10/17/2022(c)		11,700		11,557	ONEOK Partners LP
2.98%, 10/15/2021(c)		6,800		6,798	5.00%, 09/15/2023		13,600		14,087
1.00 x 1 Month USD LIBOR + 0.47%					TransCanada PipeLines Ltd
3.09%, 03/15/2021(c)		20,250		20,240	4.83%, 05/15/2067		23,657		20,168
1.00 x 1 Month USD LIBOR + 0.58%					3 Month USD LIBOR + 2.21%
							$		111,198

See accompanying notes.

235

     Schedule of Investments Short-Term Income Fund January 31, 2019 (unaudited)

		Principal					Principal
BONDS (continued)	Amount (000’s)       Value (000’s)				BONDS (continued)	Amount (000’s)   Value (000’s)
REITs - 1.78%					Student Loan Asset Backed Securities (continued)
Alexandria Real Estate Equities Inc					KeyCorp Student Loan Trust 2003-A
2.75%, 01/15/2020	$	11,990	$	11,945	3.30%, 01/25/2037	$	17,812	$	17,447
3.90%, 06/15/2023		9,750		9,844	1.00 x 3 Month USD LIBOR + 0.53%
CubeSmart LP					KeyCorp Student Loan Trust 2006-A
4.38%, 12/15/2023		4,000		4,114	3.13%, 09/27/2035		2,835		2,835
Digital Realty Trust LP					1.00 x 3 Month USD LIBOR + 0.31%
3.40%, 10/01/2020		6,700		6,720	Navient Private Education Loan Trust 2014-CT
Healthcare Realty Trust Inc					3.21%, 09/16/2024(c)		3,798		3,805
3.75%, 04/15/2023		12,000		11,869	1.00 x 1 Month USD LIBOR + 0.70%
Hospitality Properties Trust					Navient Private Education Loan Trust 2017-A
4.50%, 06/15/2023		4,800		4,790	2.91%, 12/16/2058(c)		3,969		3,968
Omega Healthcare Investors Inc					1.00 x 1 Month USD LIBOR + 0.40%
4.95%, 04/01/2024		4,750		4,853	Navient Private Education Loan Trust 2018-B
SBA Tower Trust					2.86%, 12/15/2059(c)		5,894		5,886
2.88%, 07/15/2046(c)		9,600		9,440	1.00 x 1 Month USD LIBOR + 0.35%
3.17%, 04/09/2047(c)		9,600		9,470	Navient Private Education Refi Loan Trust
Welltower Inc					2018-A
3.75%, 03/15/2023		2,924		2,927	2.53%, 02/18/2042(c)		9,195		9,137
4.95%, 01/15/2021		8,110		8,324	Navient Private Education Refi Loan Trust
		$		84,296	2018-C
Retail - 0.81%					3.01%, 06/16/2042(c)		8,226		8,206
Home Depot Inc/The					Navient Private Education Refi Loan Trust
1.80%, 06/05/2020		11,500		11,357	2018-D
McDonald's Corp					2.81%, 12/15/2059(c)		12,529		12,507
2.63%, 01/15/2022		7,250		7,211	1.00 x 1 Month USD LIBOR + 0.30%
2.75%, 12/09/2020		8,256		8,260	Navient Student Loan Trust 2018-EA
Walmart Inc					3.43%, 12/15/2059(c)		23,087		23,177
1.75%, 10/09/2019		4,900		4,872	SLM Private Credit Student Loan Trust 2002-A
1.90%, 12/15/2020		6,850		6,762	3.34%, 12/16/2030		6,676		6,669
		$		38,462	1.00 x 3 Month USD LIBOR + 0.55%
Savings & Loans - 0.00%					SLM Private Credit Student Loan Trust 2004-A
Washington Mutual Bank / Henderson NV					3.19%, 06/15/2033		1,557		1,535
0.00%, 01/15/2013(h)		1,200		—	1.00 x 3 Month USD LIBOR + 0.40%
Semiconductors - 0.81%					SLM Private Credit Student Loan Trust 2004-B
Broadcom Corp / Broadcom Cayman Finance Ltd					3.12%, 03/15/2024		16,472		16,359
2.38%, 01/15/2020		14,400		14,288	1.00 x 3 Month USD LIBOR + 0.33%
3.00%, 01/15/2022		4,800		4,699	SLM Private Credit Student Loan Trust 2006-A
Microchip Technology Inc					3.08%, 06/15/2039		28,846		27,920
4.33%, 06/01/2023(c)		9,800		9,654	1.00 x 3 Month USD LIBOR + 0.29%
QUALCOMM Inc					SLM Private Credit Student Loan Trust 2006-B
3.48%, 01/30/2023		9,750		9,664	2.99%, 12/15/2039		16,602		16,284
3 Month USD LIBOR + 0.73%					1.00 x 3 Month USD LIBOR + 0.20%
		$		38,305	SLM Private Education Loan Trust 2013-A
					1.77%, 05/17/2027(c)		828		827
Software - 0.72%					SLM Private Education Loan Trust 2013-B
Microsoft Corp					1.85%, 06/17/2030(c)		3,718		3,700
1.10%, 08/08/2019		4,750		4,715	SMB Private Education Loan Trust 2017-A
1.85%, 02/12/2020		14,600		14,482	2.96%, 06/17/2024(c)		865		866
Oracle Corp					1.00 x 1 Month USD LIBOR + 0.45%
1.90%, 09/15/2021		4,800		4,696	SMB Private Education Loan Trust 2017-B
2.25%, 10/08/2019		4,750		4,738	2.78%, 06/17/2024(c)		8,581		8,577
VMware Inc					1.00 x 1 Month USD LIBOR + 0.27%
2.95%, 08/21/2022		5,750		5,574	SMB Private Education Loan Trust 2018-A
		$		34,205	2.86%, 03/16/2026(c)		12,798		12,789
Student Loan Asset Backed Securities - 5.08%					1.00 x 1 Month USD LIBOR + 0.35%
AccessLex Institute					SMB Private Education Loan Trust 2018-B
3.61%, 07/01/2038		672		670	2.83%, 12/16/2024(c)		7,917		7,913
1.00 x US Treasury Yield Curve Rate T					1.00 x 1 Month USD LIBOR + 0.32%
Note Constant Maturity 3 Month + 1.20%					SMB Private Education Loan Trust 2018-C
Commonbond Student Loan Trust 2018-BGS					2.81%, 09/15/2025(c)		7,674		7,662
3.56%, 09/25/2045(c)		13,397		13,394	1.00 x 1 Month USD LIBOR + 0.30%
Commonbond Student Loan Trust 2018-C-GS							$		241,209
3.87%, 02/25/2046(c)		14,500		14,616	Telecommunications - 2.20%
KeyCorp Student Loan Trust 2000-A					AT&T Inc
3.01%, 05/25/2029		965		963	2.80%, 02/17/2021		11,000		10,944
1.00 x 3 Month USD LIBOR + 0.32%					3.50%, 02/15/2023		6,750		6,639
Keycorp Student Loan Trust 2000-b					3 Month USD LIBOR + 0.89%
3.08%, 07/25/2029		13,589		13,497	3.60%, 02/17/2023		4,800		4,837
1.00 x 3 Month USD LIBOR + 0.31%

See accompanying notes.

236

Schedule of Investments
Short-Term Income Fund
January 31, 2019 (unaudited)
		Principal			U.S. GOVERNMENT & GOVERNMENT			Principal
BONDS (continued)	Amount (000’s)        Value (000’s)				AGENCY OBLIGATIONS (continued)		Amount (000’s)    Value (000’s)
Telecommunications (continued)					U.S. Treasury - 1.47%
Cisco Systems Inc						1.88%, 08/31/2022	$	24,000	$	23,539
2.20%, 02/28/2021	$	4,750	$	4,703		2.63%, 06/15/2021		4,875		4,894
4.95%, 02/15/2019		9,500		9,505		2.75%, 07/31/2023		7,800		7,901
Crown Castle Towers LLC						2.88%, 10/31/2020		9,000		9,058
3.22%, 05/15/2022(c)		2,300		2,278		2.88%, 11/15/2021		24,000		24,277
Sprint Spectrum Co LLC / Sprint Spectrum Co II								$		69,669
LLC / Sprint Spectrum Co III LLC					TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY
3.36%, 03/20/2023(c)		14,953		14,871	OBLIGATIONS			$		70,243
4.74%, 03/20/2025(c)		26,550		26,517	Total Investments			$		4,688,815
Verizon Communications Inc					Other Assets and Liabilities -  1.19%					56,384
3.20%, 05/22/2020		4,800		4,816	TOTAL NET ASSETS - 100.00%			$		4,745,199
3 Month USD LIBOR + 0.55%
Vodafone Group PLC
3.75%, 01/16/2024		13,450		13,439	(a)	Affiliated Security. Security is either an affiliate (and registered under the
3.77%, 01/16/2024		6,000		5,933		Investment Company Act of 1940) or an affiliate as defined by the Investment
3 Month USD LIBOR + 0.99%						Company Act of 1940 (controls 5.0% or more of the outstanding voting
		$		104,482		shares of the security). Please see affiliated sub-schedule for transactional
						information.
Transportation - 0.25%					(b)	Current yield shown is as of period end.
Ryder System Inc					(c)	Security exempt from registration under Rule 144A of the Securities Act of
2.25%, 09/01/2021		4,800		4,662		1933. These securities may be resold in transactions exempt from registration,
3.75%, 06/09/2023		7,300		7,334		normally to qualified institutional buyers. At the end of the period, the value of
		$		11,996		these securities totaled $1,582,113 or 33.34% of net assets.
TOTAL BONDS		$		4,604,198	(d)	Rate shown is as of period end. The rate may be a variable or floating rate or
U.S. GOVERNMENT & GOVERNMENT		Principal
AGENCY OBLIGATIONS - 1.48%	Amount (000's) Value (000's)					a fixed rate which may convert to a variable or floating rate in the future.
					(e)	Security purchased on a when-issued basis.
Federal Home Loan Mortgage Corporation (FHLMC) - 0.00%					(f)	Security is an Interest Only Strip.
4.24%, 11/01/2021	$	1	$	1	(g)	Certain variable rate securities are not based on a published reference rate
1.00 x US Treasury Yield Curve Rate T						and spread but are determined by the issuer or agent and are based on current
Note Constant Maturity 1 Year + 2.12%						market conditions.  These securities do not indicate a reference rate and
4.41%, 09/01/2035		47		49		spread in their description. Rate shown is the rate in effect as of period end.
1.00 x US Treasury Yield Curve Rate T					(h)	Non-income producing security
Note Constant Maturity 1 Year + 2.25%
7.00%, 12/01/2022		61		62
		$		112		Portfolio Summary  (unaudited)
Federal National Mortgage Association (FNMA) - 0.01%					Sector					Percent
3.67%, 01/01/2035		43		45	Financial					26.67	%
1.00 x 12 Month USD LIBOR + 1.75%					Asset Backed Securities					22.45	%
4.10%, 07/01/2034		20		21	Government					14.06	%
1.00 x 12 Month USD LIBOR + 1.65%					Mortgage Securities					8.07	%
4.21%, 02/01/2037		76		80	Consumer, Non-cyclical					6.57	%
1.00 x US Treasury Yield Curve Rate T					Utilities					4.09	%
Note Constant Maturity 1 Year + 2.10%					Energy					3.81	%
4.32%, 10/01/2035		121		126	Industrial					3.23	%
1.00 x 12 Month USD LIBOR + 1.57%					Communications					3.01	%
4.33%, 08/01/2034		35		36	Consumer, Cyclical					2.95	%
1.00 x 12 Month USD LIBOR + 1.63%					Technology					2.59	%
4.40%, 07/01/2034		84		87	Basic Materials					1.01	%
1.00 x 12 Month USD LIBOR + 1.65%					Investment Companies					0.30	%
4.43%, 11/01/2022		1		1	Other Assets and Liabilities					1.19	%
1.00 x US Treasury Yield Curve Rate T					TOTAL NET ASSETS					100.00	%
Note Constant Maturity 1 Year + 2.05%
4.67%, 02/01/2035		15		16
1.00 x 6 Month USD LIBOR + 2.07%
4.70%, 11/01/2035		3		3
1.00 x Cost of funds for the 11th District of
San Francisco + 1.27%
4.77%, 12/01/2032		14		15
1.00 x 12 Month USD LIBOR + 1.64%
4.79%, 11/01/2032		26		27
1.00 x US Treasury Yield Curve Rate T
Note Constant Maturity 1 Year + 2.29%
7.50%, 10/01/2029		3		3
8.00%, 05/01/2027		1		1
		$		461
Government National Mortgage Association (GNMA) - 0.00%
9.00%, 04/20/2025		1		1

See accompanying notes.

237

Schedule of Investments
Short-Term Income Fund
January 31, 2019 (unaudited)
Affiliated Securities				October 31, 2018		Purchases		Sales		January 31, 2019
				Value		Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$			80,165	$	418,203	$	483,994	$		14,374
	$			80,165	$	418,203	$	483,994	$		14,374
				Realized Gain/Loss				Realized Gain from		Change in Unrealized
		Income		on Investments		Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	331	$	— $				— $			—
	$	331	$	— $				— $			—
Amounts in thousands

See accompanying notes.

238

     Schedule of Investments SmallCap Fund January 31, 2019 (unaudited)

COMMON STOCKS - 98.76%	Shares Held   Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Automobile Parts & Equipment - 2.31%					Electrical Components & Equipment - 1.09%
Altra Industrial Motion Corp		274,000	$	8,387	EnerSys		65,000	$	5,542
Modine Manufacturing Co (a)		164,500		2,407	nLight Inc (a)		71,664		1,401
Visteon Corp (a)		50,700		3,898			$		6,943
		$		14,692	Electronics - 3.97%
Banks - 10.85%					Advanced Energy Industries Inc (a)		97,900		5,021
BancFirst Corp		33,995		1,825	II-VI Inc (a)		147,390		5,595
Cadence BanCorp		122,800		2,303	SYNNEX Corp		77,600		7,509
Cathay General Bancorp		231,700		8,601	Vishay Intertechnology Inc		367,810		7,172
CenterState Bank Corp		302,660		7,506			$		25,297
First Interstate BancSystem Inc		100,900		3,927	Engineering & Construction - 2.03%
First Merchants Corp		110,900		4,062	MasTec Inc (a)		187,300		8,312
Franklin Financial Network Inc		77,170		2,459	Tutor Perini Corp (a)		267,500		4,604
Independent Bank Corp/MI		71,791		1,591			$		12,916
Lakeland Bancorp Inc		75,820		1,187	Entertainment - 4.02%
Popular Inc		119,500		6,526	Eldorado Resorts Inc (a)		237,500		11,072
Sandy Spring Bancorp Inc		122,140		3,983	Golden Entertainment Inc (a)		169,690		3,173
TCF Financial Corp		370,400		8,208	Live Nation Entertainment Inc (a)		105,397		5,640
Umpqua Holdings Corp		392,400		6,938	Vail Resorts Inc		30,160		5,678
Union Bankshares Corp		131,350		4,145			$		25,563
United Community Banks Inc/GA		225,560		5,801	Environmental Control - 2.42%
		$		69,062	Advanced Disposal Services Inc (a)		308,300		7,769
Biotechnology - 3.60%					AquaVenture Holdings Ltd (a)		53,860		1,133
Acceleron Pharma Inc (a)		62,360		2,644	Energy Recovery Inc (a)		154,860		1,177
Allogene Therapeutics Inc (a)		32,900		998	Tetra Tech Inc		97,000		5,353
Bluebird Bio Inc (a)		11,700		1,561			$		15,432
Denali Therapeutics Inc (a)		99,200		1,891	Food - 1.36%
DNIB Unwind Inc - Warrants (a),(b),(c)		17,472		—	Darling Ingredients Inc (a)		407,000		8,657
Exact Sciences Corp (a)		40,600		3,657
FibroGen Inc (a)		58,700		3,331	Gas - 1.37%
Insmed Inc (a)		100,300		2,438	Southwest Gas Holdings Inc		111,690		8,748
MacroGenics Inc (a)		98,900		1,160	Healthcare - Products - 1.70%
Magenta Therapeutics Inc (a)		129,900		911	Intersect ENT Inc (a)		84,500		2,507
Seattle Genetics Inc (a)		40,156		3,069	Nevro Corp (a)		84,400		4,099
Spark Therapeutics Inc (a)		26,820		1,283	RA Medical Systems Inc (a)		99,500		734
		$		22,943	STAAR Surgical Co (a)		97,800		3,494
Chemicals - 0.83%							$		10,834
Cabot Corp		113,000		5,299	Healthcare - Services - 4.10%
Commercial Services - 8.05%					Addus HomeCare Corp (a)		65,400		3,934
AMN Healthcare Services Inc (a)		162,900		10,554	Encompass Health Corp		115,400		7,713
Arlo Technologies Inc (a)		381,225		2,741	Natera Inc (a)		108,400		1,473
ASGN Inc (a)		82,510		5,197	Syneos Health Inc (a)		159,400		8,136
Brink's Co/The		114,510		8,479	Teladoc Health Inc (a)		75,500		4,847
ICF International Inc		79,900		5,267			$		26,103
K12 Inc (a)		189,549		5,973	Home Builders - 0.82%
Korn Ferry		149,050		6,797	William Lyon Homes (a)		393,160		5,213
Medifast Inc		35,750		4,549	Home Furnishings - 0.06%
SP Plus Corp (a)		51,800		1,715	Sonos Inc (a)		33,900		402
		$		51,272	Insurance - 3.77%
Computers - 3.97%					First American Financial Corp		7,590		380
CACI International Inc (a)		52,900		8,844	Hanover Insurance Group Inc/The		64,300		7,333
ExlService Holdings Inc (a)		84,500		4,859	Kemper Corp		60,270		4,531
Perspecta Inc		372,102		7,461	MGIC Investment Corp (a)		504,200		6,292
PlayAGS Inc (a)		118,900		2,979	National General Holdings Corp		226,500		5,470
Tenable Holdings Inc (a)		39,900		1,104			$		24,006
		$		25,247	Internet - 0.49%
Consumer Products - 0.84%					Anaplan Inc (a)		38,945		1,222
Central Garden & Pet Co - A Shares (a)		149,580		5,328	Eventbrite Inc (a)		62,300		1,870
Diversified Financial Services - 3.24%							$		3,092
BGC Partners Inc		379,200		2,347	Iron & Steel - 0.79%
Hamilton Lane Inc		79,290		2,876	Reliance Steel & Aluminum Co		27,250		2,231
LPL Financial Holdings Inc		60,700		4,271	Steel Dynamics Inc		76,610		2,803
Moelis & Co		153,900		6,733			$		5,034
Piper Jaffray Cos		63,940		4,414	Leisure Products & Services - 1.42%
		$		20,641	Planet Fitness Inc (a)		155,800		9,024
Electric - 3.02%					Lodging - 1.14%
PNM Resources Inc		217,680		9,271	Extended Stay America Inc		423,450		7,241
Portland General Electric Co		206,200		9,964	Machinery - Diversified - 0.52%
		$		19,235	Columbus McKinnon Corp/NY		90,653		3,282

See accompanying notes.

239

Schedule of Investments
SmallCap Fund
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held      Value (000’s)				COMMON STOCKS (continued)		Shares Held Value (000’s)
Metal Fabrication & Hardware - 1.29%					Telecommunications - 1.45%
Rexnord Corp (a)		315,030	$	8,238	NETGEAR Inc (a)		94,660	$	3,749
Mining - 0.31%					Plantronics Inc		125,150		4,855
Alcoa Corp (a)		67,390		2,000	Switch Inc		76,450		638
Miscellaneous Manufacturers - 1.20%							$		9,242
Hillenbrand Inc		112,440		4,768	TOTAL COMMON STOCKS		$		628,719
Trinseo SA		58,110		2,850	INVESTMENT COMPANIES - 2.00%		Shares Held Value (000's)
		$		7,618	Money Market Funds - 2.00%
Oil & Gas - 2.67%					Principal Government Money Market Fund		12,748,088		12,748
Carrizo Oil & Gas Inc (a)		196,700		2,416	2.32%(d),(e)
Delek US Holdings Inc		186,200		6,053	TOTAL INVESTMENT COMPANIES		$		12,748
Mammoth Energy Services Inc		167,790		3,713	Total Investments		$		641,467
Ring Energy Inc (a)		429,600		2,526	Other Assets and Liabilities -  (0.76)%				(4,859	)
Whiting Petroleum Corp (a)		79,600		2,279	TOTAL NET ASSETS - 100.00%		$		636,608
		$		16,987
Oil & Gas Services - 0.58%					(a)	Non-income producing security
Pioneer Energy Services Corp (a)		523,700		775	(b)	The value of these investments was determined using significant unobservable
Select Energy Services Inc (a)		340,200		2,892		inputs.
		$		3,667	(c)	Fair value of these investments is determined in good faith by the Manager
Packaging & Containers - 0.66%						under procedures established and periodically reviewed by the Board of
Graphic Packaging Holding Co		347,100		4,190		Directors. Certain inputs used in the valuation may be unobservable; however,
Pharmaceuticals - 3.98%						each security is evaluated individually for purposes of ASC 820 which results
Array BioPharma Inc (a)		154,710		2,888		in not all securities being identified as Level 3 of the fair value hierarchy. At
Bellicum Pharmaceuticals Inc (a)		185,700		613		the end of the period, the fair value of these securities totaled $0 or 0.00% of
Clovis Oncology Inc (a)		36,820		934		net assets.
DexCom Inc (a)		29,670		4,184	(d)	Affiliated Security. Security is either an affiliate (and registered under the
Horizon Pharma Plc (a)		217,320		4,670		Investment Company Act of 1940) or an affiliate as defined by the Investment
Neurocrine Biosciences Inc (a)		10,900		962		Company Act of 1940 (controls 5.0% or more of the outstanding voting
PRA Health Sciences Inc (a)		59,800		6,337		shares of the security). Please see affiliated sub-schedule for transactional
Prestige Consumer Healthcare Inc (a)		127,100		3,549		information.
Revance Therapeutics Inc (a)		70,900		1,224	(e)	Current yield shown is as of period end.
		$		25,361
Real Estate - 0.29%						Portfolio Summary  (unaudited)
Newmark Group Inc		176,200		1,841	Sector				Percent
REITs - 6.78%					Financial				25.16	%
Agree Realty Corp		134,500		8,881	Consumer, Non-cyclical				23.63	%
Brandywine Realty Trust		533,100		8,023	Consumer, Cyclical				14.84	%
First Industrial Realty Trust Inc		295,640		9,673	Industrial				13.18	%
Pebblebrook Hotel Trust		277,536		8,895	Technology				10.44	%
Tier REIT Inc		175,200		4,117	Utilities				4.39	%
Two Harbors Investment Corp		246,360		3,595	Energy				3.25	%
		$		43,184	Investment Companies				2.00	%
Retail - 5.07%					Communications				1.94	%
BJ's Wholesale Club Holdings Inc (a)		302,451		7,957	Basic Materials				1.93	%
Caleres Inc		274,440		8,189	Other Assets and Liabilities				(0.76	)%
Carvana Co (a)		193,800		7,200	TOTAL NET ASSETS				100.00	%
GMS Inc (a)		298,200		5,645
Ruth's Hospitality Group Inc		141,800		3,276
		$		32,267
Savings & Loans - 0.23%
Berkshire Hills Bancorp Inc		52,400		1,428
Semiconductors - 1.79%
Aquantia Corp (a)		114,700		1,011
Entegris Inc		313,470		10,360
		$		11,371
Software - 4.68%
Alteryx Inc (a)		44,470		3,164
Aspen Technology Inc (a)		80,500		7,779
Ceridian HCM Holding Inc (a)		44,244		1,823
Manhattan Associates Inc (a)		73,890		3,604
Pluralsight Inc (a)		51,607		1,547
SailPoint Technologies Holding Inc (a)		124,800		3,563
Smartsheet Inc (a)		61,431		1,928
SolarWinds Corp (a)		365,308		6,411
		$		29,819

See accompanying notes.

240

Schedule of Investments
SmallCap Fund
January 31, 2019 (unaudited)
Affiliated Securities				October 31, 2018		Purchases		Sales		January 31, 2019
				Value		Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$			15,877	$	47,348	$	50,477	$		12,748
	$			15,877	$	47,348	$	50,477	$		12,748
				Realized Gain/Loss				Realized Gain from		Change in Unrealized
		Income		on Investments		Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	68	$	— $				— $			—
	$	68	$	— $				— $			—
Amounts in thousands

See accompanying notes.

241

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS - 96.56%	Shares Held   Value (000's)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Advertising - 0.60%					Banks (continued)
MDC Partners Inc (a)		6,915	$	20	City Holding Co	551	$	39
Quotient Technology Inc (a)		9,162		92	Civista Bancshares Inc	519		10
Trade Desk Inc/The (a)		71,215		10,161	CNB Financial Corp/PA	296		7
		$		10,273	Coastal Financial Corp/WA (a)	319		5
Aerospace & Defense - 0.90%					ConnectOne Bancorp Inc	105,619		2,112
Aerojet Rocketdyne Holdings Inc (a)		6,174		244	Customers Bancorp Inc (a)	1,350		27
Aerovironment Inc (a)		1,836		143	Eagle Bancorp Inc (a)	3,366		185
Astronics Corp (a)		2,526		77	Enterprise Bancorp Inc/MA	172		6
Barnes Group Inc		507		30	Enterprise Financial Services Corp	1,440		64
HEICO Corp		98,234		8,301	Equity Bancshares Inc (a)	539		17
Kaman Corp		3,878		229	Esquire Financial Holdings Inc (a)	530		12
Kratos Defense & Security Solutions Inc (a)		382,890		5,931	Farmers & Merchants Bancorp Inc/Archbold OH	968		31
Moog Inc		218		19	FB Financial Corp	919		30
MSA Safety Inc		4,177		418	First Financial Bankshares Inc	5,604		342
National Presto Industries Inc		107		13	First Foundation Inc	7,724		113
Wesco Aircraft Holdings Inc (a)		2,607		23	German American Bancorp Inc	676		20
		$		15,428	Glacier Bancorp Inc	1,109		47
Agriculture - 0.01%					Hanmi Financial Corp	539		12
22nd Century Group Inc (a)		14,066		31	HarborOne Bancorp Inc (a)	861		13
Limoneira Co		620		14	Heritage Commerce Corp	4,304		57
Turning Point Brands Inc		984		35	Home BancShares Inc/AR	3,175		58
Vector Group Ltd		9,615		106	Howard Bancorp Inc (a)	359		5
		$		186	Independent Bank Corp/MI	784		17
Airlines - 0.01%					Independent Bank Corp/Rockland MA	632		50
Allegiant Travel Co		1,747		227	Independent Bank Group Inc	2,168		114
Mesa Air Group Inc (a)		820		7	Investar Holding Corp	470		11
		$		234	Kearny Financial Corp/MD	2,525		32
					Lakeland Financial Corp	2,609		117
Apparel - 0.37%					LegacyTexas Financial Group Inc	1,632		65
Crocs Inc (a)		8,839		254	Live Oak Bancshares Inc	1,877		26
Deckers Outdoor Corp (a)		3,680		473	Macatawa Bank Corp	464		5
Oxford Industries Inc		2,440		187	MB Financial Inc	632		28
Steven Madden Ltd		151,579		4,949	Merchants Bancorp/IN	601		12
Superior Group of Cos Inc		1,407		25	Meta Financial Group Inc	3,351		79
Wolverine World Wide Inc		11,670		400	Midland States Bancorp Inc	1,458		35
		$		6,288	National Bank Holdings Corp	1,129		36
Automobile Manufacturers - 0.00%					National Commerce Corp (a)	1,067		43
Blue Bird Corp (a)		915		18	Northeast Bancorp	430		8
Navistar International Corp (a)		280		9	Oak Valley Bancorp	200		4
Wabash National Corp		2,202		31	Old Line Bancshares Inc	373		10
		$		58	Opus Bank	89,461		1,870
Automobile Parts & Equipment - 0.07%					Origin Bancorp Inc	841		29
Altra Industrial Motion Corp		6,122		187	Pacific City Financial Corp	582		10
Commercial Vehicle Group Inc (a)		4,575		34	PCSB Financial Corp	288		6
Dana Inc		18,033		318	People's Utah Bancorp	1,842		54
Douglas Dynamics Inc		2,743		97	Preferred Bank/Los Angeles CA	1,686		78
Meritor Inc (a)		11,085		229	Prosperity Bancshares Inc	93,292		6,637
Methode Electronics Inc		2,120		55	Reliant Bancorp Inc	165		4
Miller Industries Inc/TN		422		13	Republic First Bancorp Inc (a)	1,245		7
Modine Manufacturing Co (a)		1,093		16	Seacoast Banking Corp of Florida (a)	676		19
Spartan Motors Inc		4,997		42	ServisFirst Bancshares Inc	6,036		204
Tenneco Inc		6,118		212	Southern First Bancshares Inc (a)	175		6
		$		1,203	Spirit of Texas Bancshares Inc (a)	238		5
Banks - 3.13%					Sterling Bancorp Inc/MI	1,932		17
Allegiance Bancshares Inc (a)		307		11	Stock Yards Bancorp Inc	675		23
Amalgamated Bank		259		5	Tompkins Financial Corp	37		3
Ameris Bancorp		3,721		141	TriCo Bancshares	147		6
Atlantic Capital Bancshares Inc (a)		2,129		38	TriState Capital Holdings Inc (a)	885		18
BancFirst Corp		1,023		55	Triumph Bancorp Inc (a)	2,777		85
Bank of NT Butterfield & Son Ltd/The		7,073		248	Union Bankshares Corp	59,440		1,876
BankUnited Inc		84,901		2,871	Union Bankshares Inc/Morrisville VT	450		21
Bankwell Financial Group Inc		246		7	United Community Banks Inc/GA	1,845		47
Blue Hills Bancorp Inc		1,329		31	Unity Bancorp Inc	246		5
Cadence BanCorp		630,486		11,821	Veritex Holdings Inc	926		24
Cambridge Bancorp		155		12	Walker & Dunlop Inc	957		46
Capstar Financial Holdings Inc		558		9	Washington Trust Bancorp Inc	604		31
Carolina Financial Corp		1,706		59	Webster Financial Corp	167,739		9,038
CenterState Bank Corp		19,491		483	West Bancorporation Inc	657		14
Central Pacific Financial Corp		475		14	Western Alliance Bancorp (a)	160,905		7,125

See accompanying notes.

242

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Banks (continued)					Biotechnology (continued)
Wintrust Financial Corp		89,660	$	6,378	Evelo Biosciences Inc (a)		1,535	$	14
		$		53,395	Exact Sciences Corp (a)		110,153		9,923
Beverages - 0.04%					Fate Therapeutics Inc (a)		6,852		104
Boston Beer Co Inc/The (a)		695		173	FibroGen Inc (a)		8,603		488
Coca-Cola Consolidated Inc		723		156	Fortress Biotech Inc (a)		7,222		15
Craft Brew Alliance Inc (a)		1,797		30	Forty Seven Inc (a)		841		12
MGP Ingredients Inc		1,387		99	Geron Corp (a)		22,904		26
National Beverage Corp		1,587		133	GlycoMimetics Inc (a)		4,148		46
Primo Water Corp (a)		3,827		50	GTx Inc (a)		977		1
		$		641	Guardant Health Inc (a)		59,649		2,406
Biotechnology - 7.01%					Halozyme Therapeutics Inc (a)		14,273		231
Abeona Therapeutics Inc (a)		3,656		25	Harvard Bioscience Inc (a)		3,040		10
ACADIA Pharmaceuticals Inc (a)		11,243		256	Helius Medical Technologies Inc (a)		2,446		18
Acceleron Pharma Inc (a)		58,015		2,460	Homology Medicines Inc (a)		1,919		39
Acorda Therapeutics Inc (a)		826		14	Idera Pharmaceuticals Inc (a)		3,321		8
ADMA Biologics Inc (a)		2,800		8	ImmunoGen Inc (a)		16,777		88
Aduro Biotech Inc (a)		7,250		22	Immunomedics Inc (a)		15,059		223
Adverum Biotechnologies Inc (a)		889		3	Innoviva Inc (a)		9,596		164
Agenus Inc (a)		11,110		37	Inovio Pharmaceuticals Inc (a)		9,656		48
AgeX Therapeutics Inc (a)		511		2	Insmed Inc (a)		157,658		3,832
Albireo Pharma Inc (a)		210		5	Intercept Pharmaceuticals Inc (a)		10,133		1,223
Alder Biopharmaceuticals Inc (a)		5,599		79	Intrexon Corp (a)		8,579		66
Aldeyra Therapeutics Inc (a)		2,148		19	Iovance Biotherapeutics Inc (a)		11,982		110
Allakos Inc (a)		47,405		1,894	Karyopharm Therapeutics Inc (a)		275,693		2,335
Allena Pharmaceuticals Inc (a)		1,288		9	Kezar Life Sciences Inc (a)		579		10
Allogene Therapeutics Inc (a)		89,596		2,717	Kindred Biosciences Inc (a)		3,828		38
Amicus Therapeutics Inc (a)		21,695		261	Kiniksa Pharmaceuticals Ltd (a)		590		10
AnaptysBio Inc (a)		21,864		1,450	Lexicon Pharmaceuticals Inc (a)		5,344		25
ANI Pharmaceuticals Inc (a)		1,009		54	Ligand Pharmaceuticals Inc (a)		2,351		278
Aptinyx Inc (a)		1,438		8	Liquidia Technologies Inc (a)		571		8
Aratana Therapeutics Inc (a)		3,096		14	LogicBio Therapeutics Inc (a)		739		7
Arbutus Biopharma Corp (a)		2,015		7	Loxo Oncology Inc (a)		97,982		22,987
Arcus Biosciences Inc (a)		2,444		25	MacroGenics Inc (a)		4,532		53
Arena Pharmaceuticals Inc (a)		67,873		3,120	Magenta Therapeutics Inc (a)		582		4
ArQule Inc (a)		12,236		45	Medicines Co/The (a)		5,630		130
Arrowhead Pharmaceuticals Inc (a)		10,151		143	MeiraGTx Holdings plc (a)		532		7
Arsanis Inc (a)		987		3	Mustang Bio Inc (a)		2,332		9
Assembly Biosciences Inc (a)		79,805		1,818	Myriad Genetics Inc (a)		6,992		197
Atara Biotherapeutics Inc (a)		4,701		179	NeoGenomics Inc (a)		788,037		13,097
Audentes Therapeutics Inc (a)		3,861		96	Neon Therapeutics Inc (a)		912		4
AVEO Pharmaceuticals Inc (a)		9,319		6	NewLink Genetics Corp (a)		419		1
Avid Bioservices Inc (a)		6,779		26	Novavax Inc (a)		17,845		42
Avrobio Inc (a)		87,937		1,096	NuCana PLC ADR(a)		96,563		1,251
BeiGene Ltd ADR(a)		26,080		3,377	Nymox Pharmaceutical Corp (a)		2,469		5
BioCryst Pharmaceuticals Inc (a)		10,806		94	Omeros Corp (a)		5,337		73
Biohaven Pharmaceutical Holding Co Ltd (a)		304,289		11,591	Organovo Holdings Inc (a)		13,099		13
BioTime Inc (a)		5,113		7	Osmotica Pharmaceuticals PLC (a)		1,452		11
Blueprint Medicines Corp (a)		95,713		6,899	Ovid therapeutics Inc (a)		2,081		6
Calyxt Inc (a)		647		9	Pacific Biosciences of California Inc (a)		11,771		81
Cambrex Corp (a)		2,457		107	Palatin Technologies Inc (a)		22,965		16
Cara Therapeutics Inc (a)		3,249		50	Pfenex Inc (a)		2,976		12
CASI Pharmaceuticals Inc (a)		5,753		20	Pieris Pharmaceuticals Inc (a)		5,862		17
ChemoCentryx Inc (a)		2,522		31	PolarityTE Inc (a)		1,106		20
ChromaDex Corp (a)		5,421		18	PTC Therapeutics Inc (a)		45,691		1,422
Cohbar Inc (a)		2,663		9	Puma Biotechnology Inc (a)		3,360		94
Crinetics Pharmaceuticals Inc (a)		635		17	Radius Health Inc (a)		4,793		88
Cue Biopharma Inc (a)		1,978		10	REGENXBIO Inc (a)		3,564		157
CytomX Therapeutics Inc (a)		5,161		88	Replimune Group Inc (a)		119,086		1,442
Deciphera Pharmaceuticals Inc (a)		170,583		4,584	Retrophin Inc (a)		4,736		102
Denali Therapeutics Inc (a)		5,287		101	Rigel Pharmaceuticals Inc (a)		18,583		40
Dicerna Pharmaceuticals Inc (a)		172,982		1,784	RTI Surgical Inc (a)		3,125		14
Dynavax Technologies Corp (a)		6,442		71	Rubius Therapeutics Inc (a)		170,198		2,330
Editas Medicine Inc (a)		5,295		115	Sage Therapeutics Inc (a)		19,496		2,780
Eidos Therapeutics Inc (a)		818		10	Sangamo Therapeutics Inc (a)		11,837		138
Emergent BioSolutions Inc (a)		5,162		322	Savara Inc (a)		3,755		28
Enzo Biochem Inc (a)		6,202		23	Scholar Rock Holding Corp (a)		639		10
Epizyme Inc (a)		5,029		51	Selecta Biosciences Inc (a)		3,167		5
Equillium Inc (a)		459		4	Solid Biosciences Inc (a)		1,477		37
Esperion Therapeutics Inc (a)		2,688		125	Sorrento Therapeutics Inc (a)		13,604		28

See accompanying notes.

243

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Biotechnology (continued)					Coal - 0.01%
Spark Therapeutics Inc (a)		3,631	$	174	Advanced Emissions Solutions Inc		2,285	$	26
Spectrum Pharmaceuticals Inc (a)		10,861		122	CONSOL Energy Inc (a)		2,110		75
Stemline Therapeutics Inc (a)		3,613		40	Ramaco Resources Inc (a)		1,635		10
Surface Oncology Inc (a)		1,542		9			$		111
Syndax Pharmaceuticals Inc (a)		1,257		7	Commercial Services - 8.01%
Theravance Biopharma Inc (a)		3,848		100	2U Inc (a)		169,489		9,636
Tobira Therapeutics Inc - Rights (a),(b),(c)		1,559		3	American Public Education Inc (a)		188		6
Tocagen Inc (a)		1,780		20	AMN Healthcare Services Inc (a)		5,793		375
Translate Bio Inc (a)		1,420		8	ASGN Inc (a)		6,408		404
Twist Bioscience Corp (a)		45,058		1,042	Avalara Inc (a)		868		35
Tyme Technologies Inc (a)		11,764		32	Avis Budget Group Inc (a)		5,896		157
Ultragenyx Pharmaceutical Inc (a)		76,674		3,782	Barrett Business Services Inc		849		53
UNITY Biotechnology Inc (a)		2,793		32	BG Staffing Inc		1,382		36
Veracyte Inc (a)		3,487		63	Bright Horizons Family Solutions Inc (a)		264,590		30,637
Verastem Inc (a)		8,535		28	Brink's Co/The		4,319		320
Vericel Corp (a)		4,979		86	CAI International Inc (a)		1,044		26
Viking Therapeutics Inc (a)		6,773		55	Cardtronics PLC (a)		5,647		153
WaVe Life Sciences Ltd (a)		2,157		80	Care.com Inc (a)		2,415		57
XOMA Corp (a)		578		7	Career Education Corp (a)		8,235		106
ZIOPHARM Oncology Inc (a)		16,251		36	Carriage Services Inc		912		18
		$		119,701	Cass Information Systems Inc		1,742		85
Building Materials - 1.04%					Chegg Inc (a)		620,976		21,871
AAON Inc		3,708		137	Cimpress NV (a)		15,192		1,264
American Woodmark Corp (a)		1,190		83	CoreLogic Inc/United States (a)		86,648		3,145
Apogee Enterprises Inc		2,795		95	CorVel Corp (a)		1,120		70
Armstrong Flooring Inc (a)		773		11	CRA International Inc		293		12
Armstrong World Industries Inc		91,960		6,257	Deluxe Corp		6,224		292
Boise Cascade Co		5,705		157	Everi Holdings Inc (a)		183,545		1,221
Builders FirstSource Inc (a)		15,669		207	EVERTEC Inc		8,111		224
Continental Building Products Inc (a)		4,410		116	Evo Payments Inc (a)		462,857		11,641
Griffon Corp		677		11	Forrester Research Inc		1,247		56
JELD-WEN Holding Inc (a)		6,105		109	Franklin Covey Co (a)		1,165		28
Louisiana-Pacific Corp		4,056		99	Grand Canyon Education Inc (a)		75,213		6,990
Masonite International Corp (a)		3,535		202	Green Dot Corp (a)		59,327		4,391
NCI Building Systems Inc (a)		5,259		43	Hackett Group Inc/The		2,942		53
Patrick Industries Inc (a)		2,884		115	Healthcare Services Group Inc		136,446		5,952
PGT Innovations Inc (a)		6,670		111	HealthEquity Inc (a)		50,864		3,171
Simpson Manufacturing Co Inc		5,363		329	Heidrick & Struggles International Inc		2,307		76
Summit Materials Inc (a)		9,942		152	Herc Holdings Inc (a)		2,874		106
Trex Co Inc (a)		131,089		9,145	HMS Holdings Corp (a)		9,399		282
Universal Forest Products Inc		7,474		230	I3 Verticals Inc (a)		972		24
US Concrete Inc (a)		1,862		66	ICF International Inc		805		53
		$		17,675	Insperity Inc		32,580		3,476
Chemicals - 1.44%					Kforce Inc		2,843		93
A. Schulman Inc. (a),(c),(d)		5,668		11	Korn Ferry		7,454		340
AdvanSix Inc (a)		1,308		41	LiveRamp Holdings Inc (a)		3,389		147
Balchem Corp		4,022		334	Medifast Inc		1,612		205
Codexis Inc (a)		6,044		114	Monro Inc		2,707		194
Ferro Corp (a)		7,459		124	National Research Corp		1,370		55
GCP Applied Technologies Inc (a)		6,318		159	Nutrisystem Inc		2,520		109
HB Fuller Co		3,239		160	Paylocity Holding Corp (a)		95,368		6,774
Ingevity Corp (a)		109,183		10,271	PFSweb Inc (a)		2,329		14
Innophos Holdings Inc		499		15	PRGX Global Inc (a)		3,146		29
Innospec Inc		41,588		2,922	Resources Connection Inc		1,428		24
Kraton Corp (a)		3,386		96	Sotheby's (a)		3,015		122
Kronos Worldwide Inc		2,810		37	SP Plus Corp (a)		1,035		34
OMNOVA Solutions Inc (a)		5,852		52	Strategic Education Inc		77,524		8,481
PolyOne Corp		204,535		6,621	Travelport Worldwide Ltd		2,008		31
PQ Group Holdings Inc (a)		203,180		3,058	TriNet Group Inc (a)		109,832		5,015
Quaker Chemical Corp		1,608		329	TrueBlue Inc (a)		2,139		52
Rogers Corp (a)		827		105	Viad Corp		1,004		53
Sensient Technologies Corp		1,949		122	Weight Watchers International Inc (a)		5,494		176
Tronox Ltd		5,247		46	WEX Inc (a)		50,647		8,171
Valhi Inc		1,751		6	Willdan Group Inc (a)		1,094		37
		$		24,623			$		136,658
					Computers - 6.46%
					3D Systems Corp (a)		445		6
					Agilysys Inc (a)		1,351		24
					Carbon Black Inc (a)		4,642		72

See accompanying notes.

244

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Computers (continued)					Diversified Financial Services (continued)
Carbonite Inc (a)		3,841	$	110	Investment Technology Group Inc		460	$	14
Cray Inc (a)		121,780		2,672	Ladenburg Thalmann Financial Services Inc		11,421		33
Cubic Corp		1,624		104	LendingTree Inc (a)		20,870		6,184
EPAM Systems Inc (a)		49,850		7,053	Marlin Business Services Corp		526		12
ExlService Holdings Inc (a)		2,853		164	Moelis & Co		102,571		4,487
ForeScout Technologies Inc (a)		178,328		5,439	On Deck Capital Inc (a)		5,220		39
Genpact Ltd		558,109		16,648	Piper Jaffray Cos		61		4
Information Services Group Inc (a)		4,495		18	PJT Partners Inc		2,183		95
Insight Enterprises Inc (a)		2,413		111	Pzena Investment Management Inc		2,299		20
Lumentum Holdings Inc (a)		57,064		2,791	Regional Management Corp (a)		604		17
MAXIMUS Inc		38,957		2,732	Silvercrest Asset Management Group Inc		1,073		14
Mercury Systems Inc (a)		308,631		18,095	Stifel Financial Corp		122,634		5,870
Mitek Systems Inc (a)		4,614		51	Virtus Investment Partners Inc		151		14
PAR Technology Corp (a)		1,127		28	WageWorks Inc (a)		5,621		177
PlayAGS Inc (a)		148,014		3,709	Westwood Holdings Group Inc		1,068		39
Pure Storage Inc (a)		442,030		7,917			$		42,638
Qualys Inc (a)		4,608		399	Electric - 0.00%
Rapid7 Inc (a)		414,704		16,663	Spark Energy Inc		1,724		14
Rimini Street Inc (a)		2,351		12	Electrical Components & Equipment - 1.55%
Science Applications International Corp		3,628		244	EnerSys		3,553		303
Tenable Holdings Inc (a)		1,272		35	Generac Holdings Inc (a)		7,671		406
TTEC Holdings Inc		1,767		59	Graham Corp		219		5
Unisys Corp (a)		4,598		60	Insteel Industries Inc		2,045		45
USA Technologies Inc (a)		253,358		1,497	Littelfuse Inc		73,244		12,870
Varonis Systems Inc (a)		122,017		7,209	nLight Inc (a)		2,653		52
Virtusa Corp (a)		2,427		118	Novanta Inc (a)		128,369		8,945
Vocera Communications Inc (a)		398,848		16,281	Universal Display Corp		36,560		3,796
		$		110,321			$		26,422
Consumer Products - 0.02%					Electronics - 0.85%
Central Garden & Pet Co (a)		994		39	Advanced Energy Industries Inc (a)		5,013		257
Central Garden & Pet Co - A Shares (a)		2,705		96	Alarm.com Holdings Inc (a)		65,657		4,132
Helen of Troy Ltd (a)		575		67	Allied Motion Technologies Inc		983		41
Rosetta Stone Inc (a)		598		9	Applied Optoelectronics Inc (a)		1,960		34
WD-40 Co		1,147		209	Atkore International Group Inc (a)		4,881		113
		$		420	Badger Meter Inc		2,509		132
Cosmetics & Personal Care - 0.01%					Control4 Corp (a)		1,553		31
elf Beauty Inc (a)		3,192		27	FARO Technologies Inc (a)		1,883		80
Inter Parfums Inc		1,367		91	Fitbit Inc (a)		4,030		25
		$		118	Fluidigm Corp (a)		3,491		30
Distribution & Wholesale - 2.02%					II-VI Inc (a)		8,146		309
Core-Mark Holding Co Inc		117,768		3,284	IntriCon Corp (a)		1,075		28
Dorman Products Inc (a)		3,446		296	Itron Inc (a)		2,886		158
Fossil Group Inc (a)		1,626		27	Mesa Laboratories Inc		395		90
G-III Apparel Group Ltd (a)		2,692		94	Napco Security Technologies Inc (a)		1,792		28
H&E Equipment Services Inc		372,743		9,978	NVE Corp		567		54
Pool Corp		55,040		8,251	OSI Systems Inc (a)		1,103		99
SiteOne Landscape Supply Inc (a)		233,396		12,440	Park Electrochemical Corp		1,581		36
Systemax Inc		1,415		33	ShotSpotter Inc (a)		914		44
		$		34,403	SMART Global Holdings Inc (a)		1,485		37
Diversified Financial Services - 2.50%					Sparton Corp (a)		771		14
Altisource Portfolio Solutions SA (a)		192		5	Stoneridge Inc (a)		3,038		79
Ares Management Corp		289,216		6,033	Turtle Beach Corp (a)		1,118		17
Artisan Partners Asset Management Inc		6,641		155	Vishay Precision Group Inc (a)		1,213		41
Blucora Inc (a)		2,940		87	Watts Water Technologies Inc		2,320		174
Cohen & Steers Inc		2,700		102	Woodward Inc		91,761		8,337
Cowen Inc (a)		1,519		25	ZAGG Inc (a)		3,428		38
Curo Group Holdings Corp (a)		1,430		18			$		14,458
Diamond Hill Investment Group Inc		383		59	Energy - Alternate Sources - 0.00%
Elevate Credit Inc (a)		2,712		12	Renewable Energy Group Inc (a)		1,357		39
Ellie Mae Inc (a)		2,925		222	TerraForm Power Inc		1,559		19
Enova International Inc (a)		4,004		92			$		58
Federal Agricultural Mortgage Corp		384		27	Engineering & Construction - 1.62%
Federated Investors Inc		9,105		238	Comfort Systems USA Inc		5,075		244
FRP Holdings Inc (a)		132		7	Dycom Industries Inc (a)		146,921		8,529
GAMCO Investors Inc		404		8	EMCOR Group Inc		5,600		365
Granite Point Mortgage Trust Inc		1,030		20	Exponent Inc		4,424		221
Greenhill & Co Inc		1,802		45	Granite Construction Inc		3,034		131
Hamilton Lane Inc		305,135		11,067	MasTec Inc (a)		5,444		242
Houlihan Lokey Inc		167,193		7,397	Mistras Group Inc (a)		2,018		30

See accompanying notes.

245

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Engineering & Construction (continued)					Healthcare - Products (continued)
MYR Group Inc (a)		1,982	$	60	Axonics Modulation Technologies Inc (a)		761	$	11
NV5 Global Inc (a)		73,788		5,222	BioTelemetry Inc (a)		2,817		202
Orion Group Holdings Inc (a)		2,693		11	Cardiovascular Systems Inc (a)		5,029		156
Primoris Services Corp		3,475		69	CareDx Inc (a)		3,625		102
Sterling Construction Co Inc (a)		1,087		14	Celcuity Inc (a)		635		14
TopBuild Corp (a)		193,775		10,233	Cerus Corp (a)		14,850		88
Tutor Perini Corp (a)		133,790		2,303	CONMED Corp		1,563		110
VSE Corp		386		13	CryoLife Inc (a)		3,864		108
		$		27,687	Cutera Inc (a)		1,972		28
Entertainment - 0.81%					CytoSorbents Corp (a)		4,485		34
Churchill Downs Inc		55,487		5,103	Endologix Inc (a)		18,468		14
Eldorado Resorts Inc (a)		59,017		2,751	FONAR Corp (a)		347		8
Eros International PLC (a)		2,100		20	GenMark Diagnostics Inc (a)		6,523		43
IMAX Corp (a)		7,922		165	Genomic Health Inc (a)		2,360		179
Marriott Vacations Worldwide Corp		2,747		243	Glaukos Corp (a)		2,884		184
Monarch Casino & Resort Inc (a)		1,182		51	Globus Medical Inc (a)		8,985		405
Penn National Gaming Inc (a)		2,866		70	Haemonetics Corp (a)		33,993		3,362
RCI Hospitality Holdings Inc		910		20	Henry Schein Inc (a)		75,053		5,832
Red Rock Resorts Inc		6,140		156	Inogen Inc (a)		22,368		3,383
Scientific Games Corp (a)		4,951		124	Inspire Medical Systems Inc (a)		1,394		75
SeaWorld Entertainment Inc (a)		195,479		5,093	Insulet Corp (a)		10,340		839
		$		13,796	Integer Holdings Corp (a)		68,168		5,521
Environmental Control - 2.41%					Integra LifeSciences Holdings Corp (a)		166,225		7,872
Advanced Disposal Services Inc (a)		6,029		152	Intersect ENT Inc (a)		188,476		5,592
Casella Waste Systems Inc (a)		622		19	iRadimed Corp (a)		591		16
Charah Solutions Inc (a)		1,697		12	iRhythm Technologies Inc (a)		138,533		11,775
Covanta Holding Corp		10,203		164	Lantheus Holdings Inc (a)		4,291		72
Energy Recovery Inc (a)		4,405		33	LeMaitre Vascular Inc		2,035		48
Heritage-Crystal Clean Inc (a)		276		7	LivaNova PLC (a)		20,867		1,926
Tetra Tech Inc		249,762		13,785	Luminex Corp		1,490		42
US Ecology Inc		1,865		119	Meridian Bioscience Inc		4,570		75
Waste Connections Inc		321,795		26,889	Merit Medical Systems Inc (a)		76,677		4,335
		$		41,180	NanoString Technologies Inc (a)		2,856		63
Food - 1.28%					Natus Medical Inc (a)		4,704		159
B&G Foods Inc		1,775		47	Nevro Corp (a)		2,538		123
Calavo Growers Inc		67,543		5,496	Novocure Ltd (a)		6,344		311
Cal-Maine Foods Inc		2,415		102	NuVasive Inc (a)		6,504		326
Chefs' Warehouse Inc/The (a)		232,508		7,468	Nuvectra Corp (a)		2,077		29
Hain Celestial Group Inc/The (a)		193,548		3,548	NxStage Medical Inc (a)		8,739		254
J&J Snack Foods Corp		1,271		196	OraSure Technologies Inc (a)		107,656		1,384
John B Sanfilippo & Son Inc		1,050		72	Orthofix Medical Inc (a)		1,584		86
Lancaster Colony Corp		1,682		267	OrthoPediatrics Corp (a)		900		33
Nathan's Famous Inc		410		28	Oxford Immunotec Global PLC (a)		3,458		50
Performance Food Group Co (a)		12,647		432	Penumbra Inc (a)		48,889		7,114
Simply Good Foods Co/The (a)		212,273		4,201	Quanterix Corp (a)		1,294		27
Tootsie Roll Industries Inc		415		14	Quidel Corp (a)		4,518		262
		$		21,871	Repligen Corp (a)		4,420		252
					Rockwell Medical Inc (a)		6,363		20
Forest Products & Paper - 0.01%					Sientra Inc (a)		3,003		33
Neenah Inc		2,024		141	STAAR Surgical Co (a)		5,994		214
Schweitzer-Mauduit International Inc		1,611		52	Surmodics Inc (a)		1,568		90
Verso Corp (a)		463		11	T2 Biosystems Inc (a)		4,735		17
		$		204	Tactile Systems Technology Inc (a)		146,591		9,760
Gas - 0.01%					Tandem Diabetes Care Inc (a)		146,689		6,378
Chesapeake Utilities Corp		310		28	TransEnterix Inc (a)		19,531		53
New Jersey Resources Corp		1,009		49	Utah Medical Products Inc		370		35
South Jersey Industries Inc		1,097		33	Varex Imaging Corp (a)		47,273		1,347
		$		110	Wright Medical Group NV		10,791		322
Hand & Machine Tools - 0.31%							$		84,388
Franklin Electric Co Inc		5,746		275	Healthcare - Services - 4.51%
Kennametal Inc		6,664		251	AAC Holdings Inc (a)		3,107		7
Lincoln Electric Holdings Inc		55,245		4,775	Addus HomeCare Corp (a)		1,159		70
Milacron Holdings Corp (a)		1,239		17	Amedisys Inc (a)		3,292		432
		$		5,318	American Renal Associates Holdings Inc (a)		1,721		21
Healthcare - Products - 4.95%					Apollo Medical Holdings Inc (a)		760		15
Accuray Inc (a)		11,147		49	Capital Senior Living Corp (a)		4,004		28
AtriCure Inc (a)		96,676		2,993	Catalent Inc (a)		536,493		19,813
Atrion Corp		116		86	Cellular Biomedicine Group Inc (a)		942		17
AxoGen Inc (a)		4,080		67	Charles River Laboratories International Inc (a)		130,446		16,070

See accompanying notes.

246

Schedule of Investments
SmallCap Growth Fund I
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held     Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Healthcare - Services (continued)					Insurance (continued)
Civitas Solutions Inc (a)		1,741	$	31	United Fire Group Inc		207	$	11
Ensign Group Inc/The		6,494		283	United Insurance Holdings Corp		2,168		35
Evolus Inc (a)		1,269		21	Universal Insurance Holdings Inc		4,340		164
Genesis Healthcare Inc (a)		12,047		19			$		14,431
ICON PLC (a)		64,050		8,959	Internet - 5.89%
Invitae Corp (a)		7,634		107	1-800-Flowers.com Inc (a)		1,108		18
LHC Group Inc (a)		106,000		11,207	Anaplan Inc (a)		1,771		55
Medpace Holdings Inc (a)		2,982		192	Boingo Wireless Inc (a)		108,712		2,622
Miragen Therapeutics Inc (a)		3,135		9	Cardlytics Inc (a)		675		12
Natera Inc (a)		3,800		52	Cargurus Inc (a)		6,914		296
Neuronetics Inc (a)		1,141		19	ChannelAdvisor Corp (a)		3,215		34
Providence Service Corp/The (a)		1,352		87	Cogent Communications Holdings Inc		177,711		8,610
Quorum Health Corp (a)		4,939		14	Despegar.com Corp (a)		230,143		3,457
R1 RCM Inc (a)		11,702		95	Endurance International Group Holdings Inc (a)		8,788		71
RadNet Inc (a)		5,035		69	ePlus Inc (a)		2,031		161
Select Medical Holdings Corp (a)		14,682		229	Etsy Inc (a)		462,036		25,251
SI-BONE Inc (a)		1,034		19	Groupon Inc (a)		39,999		151
Surgery Partners Inc (a)		548		7	GrubHub Inc (a)		83,990		6,753
Syneos Health Inc (a)		1,265		64	HealthStream Inc		3,315		83
Teladoc Health Inc (a)		287,627		18,466	Internap Corp (a)		141,891		768
Tenet Healthcare Corp (a)		10,996		242	Liberty Expedia Holdings Inc (a)		336		14
Tivity Health Inc (a)		4,751		106	LiveXLive Media Inc (a)		3,387		21
US Physical Therapy Inc		1,717		182	MakeMyTrip Ltd (a)		344,761		9,177
Vapotherm Inc (a)		626		10	Mimecast Ltd (a)		449,460		16,886
		$		76,962	NIC Inc		7,953		130
Home Builders - 0.16%					Pandora Media Inc (a)		22,315		187
Cavco Industries Inc (a)		1,219		203	Perficient Inc (a)		1,898		48
Century Communities Inc (a)		300		7	Proofpoint Inc (a)		52,989		5,398
Green Brick Partners Inc (a)		453		4	Q2 Holdings Inc (a)		66,607		3,959
Hovnanian Enterprises Inc (a)		7,332		5	QuinStreet Inc (a)		5,136		98
Installed Building Products Inc (a)		2,557		108	RingCentral Inc (a)		77,469		7,161
KB Home		4,183		89	Shutterfly Inc (a)		2,934		135
LCI Industries		2,058		170	Shutterstock Inc		2,231		89
LGI Homes Inc (a)		1,570		93	Stamps.com Inc (a)		2,224		414
M/I Homes Inc (a)		773		20	TechTarget Inc (a)		2,656		38
Meritage Homes Corp (a)		39,062		1,761	Travelzoo (a)		644		8
Skyline Champion Corp		3,491		63	TrueCar Inc (a)		10,511		99
Taylor Morrison Home Corp (a)		4,805		91	Tucows Inc (a)		1,222		90
TRI Pointe Group Inc (a)		4,474		60	Wayfair Inc (a)		54,068		5,918
William Lyon Homes (a)		819		11	Yelp Inc (a)		7,028		256
Winnebago Industries Inc		3,704		106	Zix Corp (a)		7,130		51
		$		2,791	Zscaler Inc (a)		40,249		1,947
Home Furnishings - 0.53%							$		100,466
Hamilton Beach Brands Holding Co		807		21	Investment Companies - 0.00%
Hooker Furniture Corp		691		20	BrightSphere Investment Group PLC		5,948		74
iRobot Corp (a)		2,275		204	Iron & Steel - 0.22%
Roku Inc (a)		3,711		167	Allegheny Technologies Inc (a)		92,270		2,527
Sleep Number Corp (a)		239,076		8,607	Carpenter Technology Corp		22,470		1,062
Sonos Inc (a)		1,269		15	Cleveland-Cliffs Inc		8,892		95
		$		9,034	Ryerson Holding Corp (a)		2,830		20
Insurance - 0.85%					Shiloh Industries Inc (a)		1,262		8
eHealth Inc (a)		66,750		4,082			$		3,712
Essent Group Ltd (a)		6,259		249	Leisure Products & Services - 1.76%
FedNat Holding Co		1,059		19	Callaway Golf Co		9,872		161
Global Indemnity Ltd		284		9	Camping World Holdings Inc		3,865		55
Health Insurance Innovations Inc (a)		1,494		57	Clarus Corp		282,375		3,160
Heritage Insurance Holdings Inc		405		6	Drive Shack Inc (a)		6,558		28
Investors Title Co		18		3	Fox Factory Holding Corp (a)		4,758		282
James River Group Holdings Ltd		2,079		80	Johnson Outdoors Inc		463		29
Kemper Corp		3,788		285	Liberty TripAdvisor Holdings Inc (a)		11,475		191
Kingstone Cos Inc		533		9	Lindblad Expeditions Holdings Inc (a)		278,425		3,422
Kinsale Capital Group Inc		1,706		99	Malibu Boats Inc (a)		2,396		97
National General Holdings Corp		5,822		141	Marine Products Corp		1,220		17
Navigators Group Inc/The		158		11	MasterCraft Boat Holdings Inc (a)		2,305		50
NMI Holdings Inc (a)		7,272		160	Nautilus Inc (a)		3,624		27
Primerica Inc		5,105		574	Planet Fitness Inc (a)		364,921		21,137
RLI Corp		2,807		185	Town Sports International Holdings Inc (a)		887		5
Stewart Information Services Corp		757		34	YETI Holdings Inc (a)		80,855		1,375
Trupanion Inc (a)		309,535		8,218			$		30,036

See accompanying notes.

247

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held       Value (000’s)			COMMON STOCKS (continued)	Shares Held    Value (000’s)
Lodging - 1.25%				Mining (continued)
Belmond Ltd (a)	972	$	24	Kaiser Aluminum Corp		1,255	$	126
Bluegreen Vacations Corp	1,413		19	Livent Corp (a)		150,518		1,905
Boyd Gaming Corp	6,474		177	Tahoe Resources Inc (a)		12,962		49
Choice Hotels International Inc	155,748		12,329	United States Lime & Minerals Inc		74		5
Hilton Grand Vacations Inc (a)	290,262		8,807	Uranium Energy Corp (a)		21,386		28
	$		21,356			$		2,318
Machinery - Construction & Mining - 0.53%				Miscellaneous Manufacturers - 1.94%
Astec Industries Inc	1,314		48	Actuant Corp		2,598		59
BWX Technologies Inc	192,800		8,950	Ambarella Inc (a)		1,062		40
	$		8,998	Axon Enterprise Inc (a)		4,948		252
Machinery - Diversified - 3.01%				Carlisle Cos Inc		30,614		3,298
Alamo Group Inc	1,008		87	Chase Corp		823		83
Albany International Corp	3,725		256	EnPro Industries Inc		205		14
Applied Industrial Technologies Inc	5,060		299	ESCO Technologies Inc		94,198		6,133
Cactus Inc (a)	145,892		4,788	Federal Signal Corp		8,296		182
Chart Industries Inc (a)	72,884		5,445	Harsco Corp (a)		6,914		147
Columbus McKinnon Corp/NY	1,704		62	Hexcel Corp		243,675		16,500
CSW Industrials Inc (a)	1,872		97	Hillenbrand Inc		8,114		344
DXP Enterprises Inc/TX (a)	1,505		50	John Bean Technologies Corp		65,397		5,196
Eastman Kodak Co (a)	3,787		11	Lydall Inc (a)		466		12
Gardner Denver Holdings Inc (a)	311,408		7,682	Myers Industries Inc		4,348		71
Gates Industrial Corp PLC (a)	301,742		4,499	Proto Labs Inc (a)		2,307		286
Gencor Industries Inc (a)	539		7	Raven Industries Inc		3,066		113
Gorman-Rupp Co/The	725		25	Standex International Corp		1,554		116
Ichor Holdings Ltd (a)	2,945		61	Sturm Ruger & Co Inc		2,031		111
IDEX Corp	102,089		14,074	Trinseo SA		4,094		201
Kadant Inc	1,283		109			$		33,158
Lindsay Corp	901		77	Office & Business Equipment - 0.01%
Manitex International Inc (a)	1,928		13	Pitney Bowes Inc		16,535		119
Mueller Water Products Inc - Class A	14,515		143	Office Furnishings - 0.05%
Nordson Corp	56,610		7,339	Herman Miller Inc		7,138		244
SPX Corp (a)	5,185		154	HNI Corp		5,995		233
Tennant Co	1,572		92	Interface Inc		6,430		105
Twin Disc Inc (a)	327		6	Kimball International Inc		4,028		57
Welbilt Inc (a)	431,638		6,052	Knoll Inc		7,373		149
	$		51,428			$		788
Media - 0.08%				Oil & Gas - 0.84%
Beasley Broadcast Group Inc	921		4	Abraxas Petroleum Corp (a)		21,055		25
Central European Media Enterprises Ltd (a)	11,348		34	Berry Petroleum Corp		1,214		14
Entravision Communications Corp	2,555		10	Callon Petroleum Co (a)		262,371		2,136
Hemisphere Media Group Inc (a)	1,373		18	Carrizo Oil & Gas Inc (a)		7,737		95
Houghton Mifflin Harcourt Co (a)	906		10	CVR Energy Inc		2,045		82
Liberty Media Corp-Liberty Braves - A Shares (a)	1,285		35	Delek US Holdings Inc		20,902		679
Liberty Media Corp-Liberty Braves - C Shares (a)	3,046		82	Denbury Resources Inc (a)		25,953		53
New York Times Co/The	9,262		238	Eclipse Resources Corp (a)		10,999		13
Nexstar Media Group Inc	5,695		475	Evolution Petroleum Corp		3,958		29
Sinclair Broadcast Group Inc	5,280		163	Goodrich Petroleum Corp (a)		919		13
Tribune Publishing Co (a)	2,364		28	Isramco Inc (a)		71		8
Value Line Inc	255		5	Jagged Peak Energy Inc (a)		7,820		82
World Wrestling Entertainment Inc	3,686		304	Laredo Petroleum Inc (a)		6,945		26
	$		1,406	Magnolia Oil & Gas Corp (a)		393,050		4,732
Metal Fabrication & Hardware - 0.52%				Mammoth Energy Services Inc		1,714		38
Advanced Drainage Systems Inc	4,325		110	Matador Resources Co (a)		299,944		5,849
AZZ Inc	1,756		79	Murphy USA Inc (a)		1,239		91
Global Brass & Copper Holdings Inc	2,555		77	Northern Oil and Gas Inc (a)		6,153		16
Lawson Products Inc/DE (a)	437		13	Panhandle Oil and Gas Inc		1,299		21
Mueller Industries Inc	7,899		205	Par Pacific Holdings Inc (a)		428		7
Omega Flex Inc	463		29	Penn Virginia Corp (a)		1,488		78
RBC Bearings Inc (a)	56,830		7,923	Resolute Energy Corp (a)		172		6
Rexnord Corp (a)	2,712		71	Ring Energy Inc (a)		6,925		41
Sun Hydraulics Corp	2,490		88	Rosehill Resources Inc (a)		871		3
Worthington Industries Inc	5,193		196	SRC Energy Inc (a)		21,512		106
	$		8,791	WildHorse Resource Development Corp (a)		3,151		53
Mining - 0.14%						$		14,296
Compass Minerals International Inc	2,729		143	Oil & Gas Services - 0.26%
Covia Holdings Corp (a)	3,753		17	DMC Global Inc		1,733		60
Gold Resource Corp	7,107		32	Independence Contract Drilling Inc (a)		2,680		9
Hecla Mining Co	4,677		13	ION Geophysical Corp (a)		1,285		11
				Keane Group Inc (a)		6,305		64

See accompanying notes.

248

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Oil & Gas Services (continued)					Pharmaceuticals (continued)
Liberty Oilfield Services Inc		5,383	$	82	Intellia Therapeutics Inc (a)		3,926	$	55
MRC Global Inc (a)		3,972		62	Intra-Cellular Therapies Inc (a)		3,043		37
Oil States International Inc (a)		220,160		3,791	Ironwood Pharmaceuticals Inc (a)		15,855		217
Pioneer Energy Services Corp (a)		2,591		4	Jounce Therapeutics Inc (a)		1,761		7
Profire Energy Inc (a)		6,113		10	Kadmon Holdings Inc (a)		13,132		32
ProPetro Holding Corp (a)		9,647		158	Kodiak Sciences Inc (a)		867		7
Select Energy Services Inc (a)		1,602		14	Kura Oncology Inc (a)		3,184		51
Solaris Oilfield Infrastructure Inc		3,459		52	La Jolla Pharmaceutical Co (a)		2,800		17
TETRA Technologies Inc (a)		12,749		27	Madrigal Pharmaceuticals Inc (a)		22,428		2,597
Thermon Group Holdings Inc (a)		1,267		29	MannKind Corp (a)		15,864		20
US Silica Holdings Inc		4,170		56	MediciNova Inc (a)		4,934		45
		$		4,429	Mersana Therapeutics Inc (a)		2,191		10
Packaging & Containers - 0.00%					Minerva Neurosciences Inc (a)		2,928		19
Greif Inc - Class A		1,078		42	Mirati Therapeutics Inc (a)		2,307		152
Greif Inc - Class B		163		7	Momenta Pharmaceuticals Inc (a)		8,942		106
		$		49	MyoKardia Inc (a)		2,975		123
Pharmaceuticals - 4.01%					Natural Health Trends Corp		1,279		21
Achaogen Inc (a)		4,831		7	Neogen Corp (a)		6,245		380
Aclaris Therapeutics Inc (a)		3,834		27	Neos Therapeutics Inc (a)		6,535		14
Adamas Pharmaceuticals Inc (a)		285,014		2,565	Neurocrine Biosciences Inc (a)		112,364		9,912
Aeglea BioTherapeutics Inc (a)		2,255		21	Ocular Therapeutix Inc (a)		4,900		19
Aerie Pharmaceuticals Inc (a)		81,907		3,851	Pacira Pharmaceuticals Inc/DE (a)		5,424		221
Agios Pharmaceuticals Inc (a)		54,959		2,946	Phibro Animal Health Corp		2,358		74
Aimmune Therapeutics Inc (a)		275,456		6,479	Portola Pharmaceuticals Inc (a)		6,879		186
Akcea Therapeutics Inc (a)		1,652		44	Principia Biopharma Inc (a)		512		15
Akebia Therapeutics Inc (a)		8,938		49	Progenics Pharmaceuticals Inc (a)		9,835		44
Akorn Inc (a)		2,648		10	Proteostasis Therapeutics Inc (a)		3,058		9
Amneal Pharmaceuticals Inc (a)		7,689		94	Ra Pharmaceuticals Inc (a)		237		5
Amphastar Pharmaceuticals Inc (a)		1,749		40	Reata Pharmaceuticals Inc (a)		69,540		5,547
Antares Pharma Inc (a)		18,478		56	Recro Pharma Inc (a)		1,973		16
Apellis Pharmaceuticals Inc (a)		4,169		58	Revance Therapeutics Inc (a)		110,845		1,914
Aquestive Therapeutics Inc (a)		73,529		451	Rhythm Pharmaceuticals Inc (a)		1,724		46
Array BioPharma Inc (a)		23,375		436	Rocket Pharmaceuticals Inc (a)		2,340		34
Arvinas Inc (a)		856		15	Sarepta Therapeutics Inc (a)		33,393		4,665
Ascendis Pharma A/S ADR(a)		50,436		3,604	Senseonics Holdings Inc (a)		100,440		252
Assertio Therapeutics Inc (a)		7,961		35	Seres Therapeutics Inc (a)		2,309		14
Athenex Inc (a)		5,097		60	SIGA Technologies Inc (a)		6,977		47
Athersys Inc (a)		12,194		19	Spero Therapeutics Inc (a)		164		2
Bellicum Pharmaceuticals Inc (a)		3,107		10	Spring Bank Pharmaceuticals Inc (a)		1,545		17
BioDelivery Sciences International Inc (a)		299,346		1,383	Supernus Pharmaceuticals Inc (a)		6,476		247
BioScrip Inc (a)		3,020		11	Sutro Biopharma Inc (a)		575		6
BioSpecifics Technologies Corp (a)		730		47	Synergy Pharmaceuticals Inc (a)		28,172		9
Catalyst Pharmaceuticals Inc (a)		10,915		27	Syros Pharmaceuticals Inc (a)		2,842		17
Clovis Oncology Inc (a)		5,526		140	Teligent Inc/NJ (a)		6,684		11
Coherus Biosciences Inc (a)		116,275		1,565	TG Therapeutics Inc (a)		7,775		32
Collegium Pharmaceutical Inc (a)		3,646		58	TherapeuticsMD Inc (a)		15,727		83
Corbus Pharmaceuticals Holdings Inc (a)		5,632		43	Unum Therapeutics Inc (a)		2,128		9
Corcept Therapeutics Inc (a)		8,841		99	USANA Health Sciences Inc (a)		1,750		205
Corium International Inc (a),(c)		4,418		1	Vanda Pharmaceuticals Inc (a)		5,829		158
Corvus Pharmaceuticals Inc (a)		2,185		9	Vital Therapies Inc (a)		5,083		1
CTI BioPharma Corp (a)		7,427		9	Voyager Therapeutics Inc (a)		2,799		29
Cytokinetics Inc (a)		4,734		33	Xencor Inc (a)		5,236		189
Dermira Inc (a)		4,491		30	Xeris Pharmaceuticals Inc (a)		748		10
Diplomat Pharmacy Inc (a)		5,661		82	Y-mAbs Therapeutics Inc (a)		101,259		2,084
Durect Corp (a)		29,709		18	Zafgen Inc (a)		4,073		18
Eagle Pharmaceuticals Inc/DE (a)		1,192		50	Zogenix Inc (a)		69,822		3,055
Enanta Pharmaceuticals Inc (a)		1,909		152			$		68,498
Endo International PLC (a)		1,190		12	Pipelines - 0.07%
Fennec Pharmaceuticals Inc (a)		1,670		11	New Fortress Energy LLC (a)		91,450		1,195
Flexion Therapeutics Inc (a)		3,871		57	NextDecade Corp (a)		1,209		5
G1 Therapeutics Inc (a)		2,556		55			$		1,200
Global Blood Therapeutics Inc (a)		64,696		3,100	Private Equity - 0.05%
Gritstone Oncology Inc (a)		626		8	GSV Capital Corp (a)		129,089		731
GW Pharmaceuticals PLC ADR(a)		21,104		3,013	Kennedy-Wilson Holdings Inc		5,658		113
Heron Therapeutics Inc (a)		7,849		211			$		844
Heska Corp (a)		803		79	Real Estate - 0.05%
Horizon Pharma Plc (a)		194,986		4,191	Consolidated-Tomoka Land Co		238		15
Immune Design Corp (a)		448		1	Cushman & Wakefield PLC (a)		4,204		72
Insys Therapeutics Inc (a)		3,908		14	HFF Inc		5,118		212

See accompanying notes.

249

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Real Estate (continued)					Retail (continued)
Marcus & Millichap Inc (a)		2,370	$	94	La-Z-Boy Inc		4,023	$	119
McGrath RentCorp		3,579		180	Lithia Motors Inc		2,052		183
Newmark Group Inc		12,853		134	Lumber Liquidators Holdings Inc (a)		2,691		32
Redfin Corp (a)		6,997		125	MarineMax Inc (a)		1,506		27
RMR Group Inc/The		919		61	Movado Group Inc		196		6
		$		893	National Vision Holdings Inc (a)		256,700		8,153
REITs - 0.45%					Noodles & Co (a)		185,891		1,338
Alexander's Inc		239		80	Ollie's Bargain Outlet Holdings Inc (a)		205,771		16,085
Americold Realty Trust		7,466		219	Papa John's International Inc		923		39
Armada Hoffler Properties Inc		2,286		34	Party City Holdco Inc (a)		640		7
City Office REIT Inc		1,029		12	PetIQ Inc (a)		1,847		56
Clipper Realty Inc		1,784		23	PetMed Express Inc		2,535		60
Easterly Government Properties Inc		1,210		22	Potbelly Corp (a)		3,266		28
EastGroup Properties Inc		4,268		442	PriceSmart Inc		9,963		610
Essential Properties Realty Trust Inc		938		15	RH (a)		2,577		350
First Industrial Realty Trust Inc		4,137		135	RTW RetailWinds Inc (a)		3,100		10
Four Corners Property Trust Inc		6,452		182	Rush Enterprises Inc - Class A		2,680		103
GEO Group Inc/The		2,149		48	Rush Enterprises Inc - Class B		360		14
Industrial Logistics Properties Trust		112,919		2,427	Ruth's Hospitality Group Inc		3,609		83
Monmouth Real Estate Investment Corp		190,796		2,622	Sally Beauty Holdings Inc (a)		6,188		107
National Health Investors Inc		2,401		200	Shake Shack Inc (a)		2,140		102
National Storage Affiliates Trust		1,842		54	Sportsman's Warehouse Holdings Inc (a)		4,765		24
NexPoint Residential Trust Inc		120		4	Tailored Brands Inc		5,918		75
PS Business Parks Inc		1,738		252	Texas Roadhouse Inc		5,870		357
QTS Realty Trust Inc		2,091		88	Tile Shop Holdings Inc		2,600		20
Ryman Hospitality Properties Inc		5,487		441	Tilly's Inc		139,731		1,692
Saul Centers Inc		1,301		69	Urban Outfitters Inc (a)		34,397		1,111
Tanger Factory Outlet Centers Inc		7,957		181	Wingstop Inc		124,080		8,146
UMH Properties Inc		3,274		46	Winmark Corp		292		45
Universal Health Realty Income Trust		1,385		96	Zumiez Inc (a)		761		19
Urban Edge Properties		1,510		31			$		112,774
		$		7,723	Savings & Loans - 0.36%
Retail - 6.61%					Axos Financial Inc (a)		7,632		232
American Eagle Outfitters Inc		267,628		5,653	BSB Bancorp Inc/MA (a)		381		12
America's Car-Mart Inc/TX (a)		319		22	Entegra Financial Corp (a)		267		6
Asbury Automotive Group Inc (a)		2,859		202	First Financial Northwest Inc		256		4
At Home Group Inc (a)		3,881		86	FS Bancorp Inc		305		15
Beacon Roofing Supply Inc (a)		4,452		162	Greene County Bancorp Inc		375		11
Big Lots Inc		2,324		73	Hingham Institution for Savings		97		18
BJ's Restaurants Inc		3,252		162	HomeTrust Bancshares Inc		763		21
BJ's Wholesale Club Holdings Inc (a)		5,586		147	Malvern Bancorp Inc (a)		238		5
Bloomin' Brands Inc		11,785		217	Meridian Bancorp Inc		912		14
BMC Stock Holdings Inc (a)		3,084		53	OceanFirst Financial Corp		113,871		2,734
Boot Barn Holdings Inc (a)		3,423		80	Pacific Premier Bancorp Inc		98,141		2,920
Brinker International Inc		4,250		172	Southern Missouri Bancorp Inc		144		5
Buckle Inc/The		1,103		19	Waterstone Financial Inc		337		5
Carrols Restaurant Group Inc (a)		356,900		3,080	WSFS Financial Corp		1,600		68
Carvana Co (a)		2,827		105			$		6,070
Casey's General Stores Inc		57,581		7,410	Semiconductors - 1.53%
Cheesecake Factory Inc/The		5,738		258	ACM Research Inc (a)		1,303		12
Children's Place Inc/The		52,102		5,041	Aquantia Corp (a)		2,676		23
Chuy's Holdings Inc (a)		77,630		1,763	Brooks Automation Inc		5,999		187
Conn's Inc (a)		1,363		29	Cabot Microelectronics Corp		3,626		369
Cracker Barrel Old Country Store Inc		2,418		404	CEVA Inc (a)		2,453		70
Dave & Buster's Entertainment Inc		5,333		274	Cirrus Logic Inc (a)		1,394		52
Del Taco Restaurants Inc (a)		186,536		1,938	Cohu Inc		2,212		39
Denny's Corp (a)		4,106		73	Cree Inc (a)		129,010		6,506
Dine Brands Global Inc		833		64	Diodes Inc (a)		2,548		86
Duluth Holdings Inc (a)		1,073		26	Entegris Inc		12,334		408
Fiesta Restaurant Group Inc (a)		2,495		37	FormFactor Inc (a)		2,928		44
FirstCash Inc		3,724		307	Inphi Corp (a)		3,904		154
Five Below Inc (a)		185,570		22,961	Integrated Device Technology Inc (a)		15,320		748
Foundation Building Materials Inc (a)		1,447		13	Lattice Semiconductor Corp (a)		14,641		114
Freshpet Inc (a)		406,987		14,640	Marvell Technology Group Ltd		200,011		3,706
GMS Inc (a)		3,619		69	MaxLinear Inc (a)		5,636		111
Habit Restaurants Inc/The (a)		151,680		1,550	Monolithic Power Systems Inc		39,892		5,049
Hudson Ltd (a)		321,693		4,143	Nanometrics Inc (a)		2,822		86
Jack in the Box Inc		31,240		2,529	Power Integrations Inc		2,427		160
Kirkland's Inc (a)		1,079		11	Rudolph Technologies Inc (a)		4,002		87

See accompanying notes.

250

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Semiconductors (continued)					Software (continued)
Semtech Corp (a)		7,410	$	360	Ultimate Software Group Inc/The (a)		26,345	$	7,194
Silicon Laboratories Inc (a)		99,643		7,622	Upland Software Inc (a)		1,988		62
Synaptics Inc (a)		1,251		50	Workiva Inc (a)		199,775		8,370
Xperi Corp		869		19	Yext Inc (a)		7,307		114
		$		26,062	Zuora Inc (a)		225,522		4,880
Software - 9.81%					Zynga Inc (a)	1,125,737			5,043
ACI Worldwide Inc (a)		9,326		276			$		167,379
Allscripts Healthcare Solutions Inc (a)		5,243		62	Storage & Warehousing - 0.01%
Altair Engineering Inc (a)		252,586		8,178	Mobile Mini Inc		3,517		133
Alteryx Inc (a)		4,214		300	Telecommunications - 1.99%
Amber Road Inc (a)		3,737		33	8x8 Inc (a)		8,039		142
Appfolio Inc (a)		31,761		2,011	A10 Networks Inc (a)		6,963		47
Aspen Technology Inc (a)		185,369		17,912	Acacia Communications Inc (a)		303		13
Avid Technology Inc (a)		3,739		18	Aerohive Networks Inc (a)		4,915		19
Benefitfocus Inc (a)		3,688		206	CalAmp Corp (a)		4,206		61
Blackbaud Inc		47,270		3,385	Calix Inc (a)		2,949		32
Blackline Inc (a)		316,352		15,052	Casa Systems Inc (a)		3,346		39
Bottomline Technologies DE Inc (a)		5,922		306	Ciena Corp (a)		363,683		13,853
Box Inc (a)		99,241		2,076	Clearfield Inc (a)		1,589		19
Brightcove Inc (a)		4,450		36	Extreme Networks Inc (a)		14,135		107
Broadridge Financial Solutions Inc		37,609		3,792	GCI Liberty Inc (a)		245,263		12,484
Castlight Health Inc (a)		11,750		35	GTT Communications Inc (a)		3,726		95
Cision Ltd (a)		8,035		100	HC2 Holdings Inc (a)		7,128		24
Cloudera Inc (a)		17,618		238	InterDigital Inc		2,260		165
CommVault Systems Inc (a)		3,426		226	Loral Space & Communications Inc (a)		1,448		52
Computer Programs & Systems Inc		968		25	NETGEAR Inc (a)		1,730		69
Cornerstone OnDemand Inc (a)		7,289		418	Ooma Inc (a)		2,416		36
Coupa Software Inc (a)		27,866		2,423	ORBCOMM Inc (a)		8,511		69
CSG Systems International Inc		2,332		84	Plantronics Inc		2,919		113
Domo Inc (a)		890		24	Quantenna Communications Inc (a)		22,237		332
Donnelley Financial Solutions Inc (a)		2,241		33	RigNet Inc (a)		464		6
Ebix Inc		2,136		122	Shenandoah Telecommunications Co		6,315		301
eGain Corp (a)		2,938		21	Viavi Solutions Inc (a)		6,994		78
Envestnet Inc (a)		28,524		1,548	Vonage Holdings Corp (a)		633,786		5,773
Everbridge Inc (a)		4,006		248			$		33,929
Evolent Health Inc (a)		3,779		67	Textiles - 0.00%
Fair Isaac Corp (a)		34,618		7,796	UniFirst Corp/MA		487		67
Five9 Inc (a)		127,931		6,541	Toys, Games & Hobbies - 0.00%
Glu Mobile Inc (a)		384,248		3,742	Funko Inc (a)		1,317		23
Guidewire Software Inc (a)		145,595		12,620
HubSpot Inc (a)		67,958		10,758	Transportation - 1.59%
Immersion Corp (a)		4,049		38	Air Transport Services Group Inc (a)		142,500		3,384
Inovalon Holdings Inc (a)		5,914		84	ArcBest Corp		1,507		57
Instructure Inc (a)		110,633		4,373	CryoPort Inc (a)		3,842		40
j2 Global Inc		4,015		302	Echo Global Logistics Inc (a)		3,324		79
LivePerson Inc (a)		5,111		120	Forward Air Corp		3,981		233
Majesco (a)		1,586		13	Heartland Express Inc		5,377		108
Medidata Solutions Inc (a)		7,039		499	Hub Group Inc (a)		3,443		153
MINDBODY Inc (a)		3,858		141	Knight-Swift Transportation Holdings Inc		447,864		14,219
MobileIron Inc (a)		10,661		52	Marten Transport Ltd		2,518		49
Model N Inc (a)		160,189		2,324	Matson Inc		3,364		113
Monotype Imaging Holdings Inc		2,342		39	PAM Transportation Services Inc (a)		356		18
New Relic Inc (a)		120,102		12,209	Saia Inc (a)		129,086		7,741
NextGen Healthcare Inc (a)		5,773		102	Universal Logistics Holdings Inc		1,376		28
Omnicell Inc (a)		4,945		322	US Xpress Enterprises Inc (a)		110,994		819
Park City Group Inc (a)		1,834		16	USA Truck Inc (a)		1,211		22
PDF Solutions Inc (a)		434		5	Werner Enterprises Inc		3,586		118
Pluralsight Inc (a)		90,532		2,714	YRC Worldwide Inc (a)		1,413		9
Progress Software Corp		3,832		139			$		27,190
PROS Holdings Inc (a)		2,738		95	Trucking & Leasing - 0.00%
QAD Inc		1,272		54	General Finance Corp (a)		1,225		12
SailPoint Technologies Holding Inc (a)		451,362		12,887	Willis Lease Finance Corp (a)		224		8
SecureWorks Corp (a)		462		11			$		20
SendGrid Inc (a)		4,499		243	Water - 0.03%
Simulations Plus Inc		1,621		31	American States Water Co		2,931		199
SPS Commerce Inc (a)		2,664		236	California Water Service Group		319		16
SVMK Inc (a)		137,474		1,788	Global Water Resources Inc		1,388		13
Tabula Rasa HealthCare Inc (a)		35,727		2,154	Middlesex Water Co		1,641		92
Telenav Inc (a)		2,833		13	SJW Group		943		57

See accompanying notes.

251

Schedule of Investments SmallCap Growth Fund I

January 31, 2019 (unaudited)

COMMON STOCKS (continued)			Shares Held                 Value (000’s)					(d)		Restricted Security. Please see Restricted Security Sub-Schedule for more
Water (continued)										information.
York Water Co/The			1,504	$		49		(e)		Affiliated Security. Security is either an affiliate (and registered under the
			$			426				Investment Company Act of 1940) or an affiliate as defined by the Investment
TOTAL COMMON STOCKS			$		1,647,753					Company Act of 1940 (controls 5.0% or more of the outstanding voting
INVESTMENT COMPANIES - 3.66%			Shares Held                Value (000's)							shares of the security). Please see affiliated sub-schedule for transactional
Money Market Funds - 3.56%										information.
Principal Government Money Market Fund			60,820,892			60,821		(f)		Current yield shown is as of period end.
2.32%(e),(f)
Principal Exchange-Traded Funds - 0.10%											Portfolio Summary  (unaudited)
Principal Healthcare Innovators Index ETF (e)			12,480			409		Sector										Percent
Principal U.S. Small-Cap Multi-Factor Index			40,457			1,234		Consumer, Non-cyclical										29.85	%
ETF (e)								Technology										17.81	%
			$			1,643		Industrial										16.27	%
TOTAL INVESTMENT COMPANIES			$			62,464		Consumer, Cyclical										13.65	%
PREFERRED STOCKS - 0.00%			Shares Held                Value (000's)					Communications										8.56	%
Investment Companies - 0.00%								Financial										7.39	%
Steel Partners Holdings LP 6.00%, 02/07/2026			820	$		18		Investment Companies										3.56	%
TOTAL PREFERRED STOCKS			$			18		Basic Materials										1.81	%
Total Investments		$	1,710,235					Energy										1.18	%
Other Assets and Liabilities -  (0.22)%						(3,714	)	Domestic Equity Funds										0.10	%
TOTAL NET ASSETS - 100.00%		$	1,706,521					Utilities										0.04	%
								Other Assets and Liabilities										(0.22	)%
(a)	Non-income producing security							TOTAL NET ASSETS										100.00	%
(b)	The value of these investments was determined using significant unobservable
	inputs.
(c)	Fair value of these investments is determined in good faith by the Manager
	under procedures established and periodically reviewed by the Board of
	Directors. Certain inputs used in the valuation may be unobservable; however,
	each security is evaluated individually for purposes of ASC 820 which results
	in not all securities being identified as Level 3 of the fair value hierarchy. At
	the end of the period, the fair value of these securities totaled $15 or 0.00% of
	net assets.
Affiliated Securities			October 31, 2018							Purchases				Sales		January 31, 2019
			Value								Cost		Proceeds			Value
Principal Government Money Market Fund 2.32%			$			41,265			$		177,235	$		157,679	$			60,821
Principal Healthcare Innovators Index ETF								—			383			—				409
Principal U.S. Small-Cap Multi-Factor Index ETF								—			1,270			—				1,234
			$			41,265			$		178,888	$		157,679	$			62,464
						Realized Gain/Loss							Realized Gain from			Change in Unrealized
						Income		on Investments			Capital Gain Distributions							Gain/Loss
Principal Government Money Market Fund 2.32%			$		246		$			— $				— $				—
Principal Healthcare Innovators Index ETF						—				—				—				26
Principal U.S. Small-Cap Multi-Factor Index ETF						5				—				—				(36	)
			$		251		$			— $				— $				(10	)
Amounts in thousands
Restricted Securities
Security Name						Acquisition Date							Cost			Value		Percent of Net Assets
A. Schulman Inc.						08/22/2018					$		11	$		11		0.00	%
Total														$		11		0.00	%
Amounts in thousands.
Futures Contracts
Description and Expiration Date			Type					Contracts						Notional Amount			Value and Unrealized Appreciation/(Depreciation)
Russell 2000 Emini; March 2019			Long			110			$		8,251				$			160
Total															$			160
Amounts in thousands except contracts.

See accompanying notes.

252

     Schedule of Investments SmallCap S&P 600 Index Fund January 31, 2019 (unaudited)

COMMON STOCKS - 96.38%	Shares Held    Value (000's)			COMMON STOCKS (continued)	Shares Held Value (000’s)
Aerospace & Defense - 1.91%				Banks (continued)
AAR Corp	56,157	$	2,116	OFG Bancorp		75,134	$	1,456
Aerojet Rocketdyne Holdings Inc (a)	124,136		4,900	Old National Bancorp/IN		259,532		4,189
Aerovironment Inc (a)	36,698		2,850	Opus Bank		37,283		779
Barnes Group Inc	81,341		4,806	Preferred Bank/Los Angeles CA		24,032		1,119
Kaman Corp	48,181		2,848	S&T Bancorp Inc		60,325		2,318
Moog Inc	56,000		5,010	Seacoast Banking Corp of Florida (a)		88,351		2,431
National Presto Industries Inc	8,660		1,036	ServisFirst Bancshares Inc		78,978		2,666
Triumph Group Inc	85,878		1,533	Simmons First National Corp		159,454		3,945
	$		25,099	Southside Bancshares Inc		56,954		1,879
Agriculture - 0.31%				Tompkins Financial Corp		21,325		1,568
Andersons Inc/The	45,354		1,589	Triumph Bancorp Inc (a)		41,664		1,269
Universal Corp/VA	43,027		2,483	TrustCo Bank Corp NY		166,567		1,293
	$		4,072	United Community Banks Inc/GA		136,493		3,511
Airlines - 0.77%				Veritex Holdings Inc		77,568		2,052
Allegiant Travel Co	21,999		2,860	Walker & Dunlop Inc		49,527		2,381
Hawaiian Holdings Inc	85,134		2,726	Westamerica Bancorporation		46,057		2,886
SkyWest Inc	89,429		4,556			$		116,855
	$		10,142	Beverages - 0.25%
Apparel - 1.23%				Coca-Cola Consolidated Inc		7,998		1,726
Crocs Inc (a)	115,115		3,306	MGP Ingredients Inc		21,785		1,564
Oxford Industries Inc	29,210		2,237			$		3,290
Steven Madden Ltd	137,144		4,478	Biotechnology - 1.93%
Unifi Inc (a)	25,026		535	Acorda Therapeutics Inc (a)		68,022		1,131
Wolverine World Wide Inc	163,434		5,608	AMAG Pharmaceuticals Inc (a)		59,514		974
	$		16,164	ANI Pharmaceuticals Inc (a)		14,290		768
Automobile Manufacturers - 0.10%				Cambrex Corp (a)		57,832		2,524
Wabash National Corp	96,561		1,346	Emergent BioSolutions Inc (a)		77,256		4,820
Automobile Parts & Equipment - 1.32%				Innoviva Inc (a)		116,659		1,995
American Axle & Manufacturing Holdings Inc (a)	192,490		2,845	Medicines Co/The (a)		113,281		2,618
Cooper Tire & Rubber Co	86,284		3,037	Myriad Genetics Inc (a)		128,833		3,632
Cooper-Standard Holdings Inc (a)	28,487		2,178	NeoGenomics Inc (a)		160,090		2,661
Garrett Motion Inc (a)	127,550		2,037	REGENXBIO Inc (a)		51,879		2,281
Gentherm Inc (a)	60,123		2,559	Spectrum Pharmaceuticals Inc (a)		175,025		1,960
Methode Electronics Inc	63,737		1,641			$		25,364
Motorcar Parts of America Inc (a)	32,592		652	Building Materials - 2.27%
Standard Motor Products Inc	34,790		1,710	AAON Inc		70,023		2,587
Superior Industries International Inc	39,659		204	American Woodmark Corp (a)		26,478		1,852
Titan International Inc	86,731		488	Apogee Enterprises Inc		48,565		1,655
	$		17,351	Boise Cascade Co		67,049		1,842
Banks - 8.91%				Gibraltar Industries Inc (a)		55,256		1,970
Ameris Bancorp	68,760		2,609	Griffon Corp		58,244		927
Banner Corp	54,307		2,962	Patrick Industries Inc (a)		39,302		1,568
Central Pacific Financial Corp	50,271		1,439	PGT Innovations Inc (a)		99,846		1,661
City Holding Co	28,667		2,055	Simpson Manufacturing Co Inc		71,293		4,376
Columbia Banking System Inc	126,242		4,639	Trex Co Inc (a)		101,247		7,063
Community Bank System Inc	88,206		5,288	Universal Forest Products Inc		106,248		3,274
Customers Bancorp Inc (a)	50,209		988	US Concrete Inc (a)		27,535		980
CVB Financial Corp	176,535		3,868			$		29,755
Eagle Bancorp Inc (a)	54,457		2,989	Chemicals - 2.92%
Fidelity Southern Corp	38,064		1,159	A. Schulman Inc. (a),(b),(c)		48,796		93
First BanCorp/Puerto Rico	374,360		3,987	AdvanSix Inc (a)		51,359		1,625
First Commonwealth Financial Corp	171,331		2,330	American Vanguard Corp		45,976		805
First Financial Bancorp	168,719		4,442	Balchem Corp		55,571		4,613
First Financial Bankshares Inc	116,701		7,130	Hawkins Inc		16,627		690
First Midwest Bancorp Inc/IL	183,324		4,037	HB Fuller Co		87,361		4,315
Flagstar Bancorp Inc	50,646		1,562	Ingevity Corp (a)		72,324		6,803
Franklin Financial Network Inc	21,026		670	Innophos Holdings Inc		33,803		1,011
Glacier Bancorp Inc	145,652		6,144	Innospec Inc		42,088		2,958
Great Western Bancorp Inc	99,373		3,507	Koppers Holdings Inc (a)		35,341		805
Hanmi Financial Corp	54,765		1,201	Kraton Corp (a)		55,069		1,553
Heritage Financial Corp/WA	57,187		1,772	Quaker Chemical Corp		22,977		4,698
HomeStreet Inc (a)	46,513		1,138	Rayonier Advanced Materials Inc		87,991		1,274
Hope Bancorp Inc	210,820		3,017	Rogers Corp (a)		31,688		4,022
Independent Bank Corp/Rockland MA	48,388		3,860	Stepan Co		34,921		3,071
LegacyTexas Financial Group Inc	77,736		3,097			$		38,336
Meta Financial Group Inc	47,535		1,119	Coal - 0.23%
National Bank Holdings Corp	44,539		1,424	CONSOL Energy Inc (a)		47,869		1,701
NBT Bancorp Inc	75,249		2,680	SunCoke Energy Inc		111,577		1,254
						$		2,955

See accompanying notes.

253

     Schedule of Investments SmallCap S&P 600 Index Fund January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Commercial Services - 4.92%					Diversified Financial Services - 1.83%
ABM Industries Inc		113,479	$	3,880	Blucora Inc (a)		82,664	$	2,439
American Public Education Inc (a)		28,299		837	Boston Private Financial Holdings Inc		145,403		1,687
AMN Healthcare Services Inc (a)		80,766		5,233	Encore Capital Group Inc (a)		44,127		1,303
Arlo Technologies Inc (a)		127,721		918	Enova International Inc (a)		59,064		1,361
Cardtronics PLC (a)		64,357		1,742	Granite Point Mortgage Trust Inc		74,885		1,462
Care.com Inc (a)		44,852		1,066	Greenhill & Co Inc		30,038		753
Career Education Corp (a)		120,215		1,552	INTL. FCStone Inc (a)		27,368		1,046
CorVel Corp (a)		15,831		989	Investment Technology Group Inc		56,991		1,724
Cross Country Healthcare Inc (a)		62,470		602	Piper Jaffray Cos		25,551		1,764
EVERTEC Inc		104,041		2,879	PRA Group Inc (a)		78,068		2,304
Forrester Research Inc		17,625		792	Virtus Investment Partners Inc		12,317		1,108
FTI Consulting Inc (a)		66,150		4,519	Waddell & Reed Financial Inc		134,964		2,311
Heidrick & Struggles International Inc		32,671		1,080	WageWorks Inc (a)		68,304		2,155
HMS Holdings Corp (a)		144,592		4,336	WisdomTree Investments Inc		200,427		1,343
Kelly Services Inc		53,735		1,204	World Acceptance Corp (a)		11,560		1,199
Korn Ferry		97,666		4,454			$		23,959
LSC Communications Inc		57,419		455	Electric - 0.64%
Matthews International Corp		55,270		2,459	Avista Corp		113,196		4,737
Medifast Inc		20,618		2,623	El Paso Electric Co		70,122		3,683
Monro Inc		56,844		4,073			$		8,420
Navigant Consulting Inc		73,395		1,902	Electrical Components & Equipment - 0.32%
Nutrisystem Inc		50,704		2,201	Encore Wire Corp		35,979		1,940
Rent-A-Center Inc/TX (a)		76,542		1,339	Insteel Industries Inc		31,468		695
Resources Connection Inc		51,096		854	Powell Industries Inc		15,021		419
RR Donnelley & Sons Co		121,295		619	Vicor Corp (a)		27,903		1,099
Strategic Education Inc		37,410		4,093			$		4,153
Team Inc (a)		51,823		743	Electronics - 3.72%
Travelport Worldwide Ltd		226,116		3,541	Advanced Energy Industries Inc (a)		66,327		3,402
TrueBlue Inc (a)		69,766		1,702	Alarm.com Holdings Inc (a)		60,386		3,800
Viad Corp		35,052		1,847	Applied Optoelectronics Inc (a)		32,412		563
		$		64,534	Badger Meter Inc		50,168		2,648
Computers - 2.66%					Bel Fuse Inc		17,356		401
3D Systems Corp (a)		196,762		2,511	Benchmark Electronics Inc		75,327		1,915
Agilysys Inc (a)		30,408		538	Brady Corp		84,330		3,770
Cray Inc (a)		70,372		1,544	Comtech Telecommunications Corp		41,196		1,029
Cubic Corp		49,226		3,164	Control4 Corp (a)		46,024		915
Diebold Nixdorf Inc		131,180		558	Electro Scientific Industries Inc (a)		59,133		1,774
Electronics For Imaging Inc (a)		75,706		1,999	FARO Technologies Inc (a)		29,731		1,264
ExlService Holdings Inc (a)		59,034		3,394	II-VI Inc (a)		102,995		3,910
Insight Enterprises Inc (a)		61,140		2,808	Itron Inc (a)		57,735		3,154
Mercury Systems Inc (a)		83,408		4,890	KEMET Corp		98,990		1,754
MTS Systems Corp		30,794		1,542	Knowles Corp (a)		155,444		2,425
OneSpan Inc (a)		54,109		789	OSI Systems Inc (a)		29,092		2,609
Qualys Inc (a)		58,359		5,050	Park Electrochemical Corp		33,195		756
Sykes Enterprises Inc (a)		68,562		1,890	Plexus Corp (a)		54,224		3,043
TTEC Holdings Inc		23,880		798	Sanmina Corp (a)		117,637		3,673
Unisys Corp (a)		87,928		1,150	SMART Global Holdings Inc (a)		21,425		532
Virtusa Corp (a)		47,422		2,301	TTM Technologies Inc (a)		159,008		1,825
		$		34,926	Watts Water Technologies Inc		47,847		3,582
Consumer Products - 0.65%							$		48,744
Central Garden & Pet Co (a)		17,787		698	Energy - Alternate Sources - 0.58%
Central Garden & Pet Co - A Shares (a)		70,541		2,513	FutureFuel Corp		44,474		814
Quanex Building Products Corp		60,598		948	Green Plains Inc		67,085		953
WD-40 Co		23,852		4,335	Renewable Energy Group Inc (a)		64,277		1,858
		$		8,494	REX American Resources Corp (a)		9,813		716
Cosmetics & Personal Care - 0.29%					SolarEdge Technologies Inc (a)		74,111		3,245
Avon Products Inc (a)		762,296		1,784			$		7,586
Inter Parfums Inc		29,697		1,973	Engineering & Construction - 1.17%
		$		3,757	Aegion Corp (a)		55,685		1,011
Distribution & Wholesale - 1.26%					Arcosa Inc		84,037		2,473
Anixter International Inc (a)		49,620		3,012	Comfort Systems USA Inc		64,019		3,071
Core-Mark Holding Co Inc		78,760		2,196	Exponent Inc		89,630		4,478
Dorman Products Inc (a)		50,113		4,307	MYR Group Inc (a)		28,543		870
Essendant Inc		56,535		722	Orion Group Holdings Inc (a)		49,917		210
Fossil Group Inc (a)		78,407		1,330	TopBuild Corp (a)		60,978		3,220
G-III Apparel Group Ltd (a)		72,294		2,521			$		15,333
ScanSource Inc (a)		44,128		1,691	Entertainment - 0.07%
Veritiv Corp (a)		21,846		746	Monarch Casino & Resort Inc (a)		20,351		880
		$		16,525

See accompanying notes.

254

     Schedule of Investments SmallCap S&P 600 Index Fund January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Environmental Control - 0.59%					Home Builders - 1.41%
Tetra Tech Inc		95,392	$	5,265	Cavco Industries Inc (a)		14,737	$	2,451
US Ecology Inc		37,980		2,418	Installed Building Products Inc (a)		37,666		1,586
		$		7,683	LCI Industries		43,456		3,582
Food - 1.77%					LGI Homes Inc (a)		32,100		1,904
B&G Foods Inc		113,619		3,029	M/I Homes Inc (a)		48,121		1,275
Calavo Growers Inc		26,943		2,192	MDC Holdings Inc		78,049		2,570
Cal-Maine Foods Inc		52,113		2,198	Meritage Homes Corp (a)		64,740		2,918
Chefs' Warehouse Inc/The (a)		39,768		1,277	William Lyon Homes (a)		56,761		753
Darling Ingredients Inc (a)		283,746		6,035	Winnebago Industries Inc		50,003		1,430
Dean Foods Co		157,506		657			$		18,469
J&J Snack Foods Corp		25,879		3,995	Home Furnishings - 0.64%
John B Sanfilippo & Son Inc		15,074		1,029	Daktronics Inc		68,029		512
Seneca Foods Corp - Class A (a)		11,572		331	Ethan Allen Interiors Inc		42,580		808
SpartanNash Co		61,933		1,285	iRobot Corp (a)		47,711		4,284
United Natural Foods Inc (a)		87,565		1,147	Sleep Number Corp (a)		57,240		2,061
		$		23,175	Universal Electronics Inc (a)		23,792		670
Forest Products & Paper - 0.51%							$		8,335
Clearwater Paper Corp (a)		28,366		957	Insurance - 3.66%
Mercer International Inc		74,485		1,100	Ambac Financial Group Inc (a)		78,125		1,478
Neenah Inc		29,066		2,025	American Equity Investment Life Holding Co		155,683		4,876
PH Glatfelter Co		75,447		964	AMERISAFE Inc		33,207		1,973
Schweitzer-Mauduit International Inc		53,019		1,700	eHealth Inc (a)		31,559		1,930
		$		6,746	Employers Holdings Inc		56,522		2,395
Gas - 1.13%					HCI Group Inc		12,492		592
Northwest Natural Holding Co		49,705		3,112	Horace Mann Educators Corp		70,552		2,938
South Jersey Industries Inc		158,976		4,734	James River Group Holdings Ltd		51,616		1,991
Spire Inc		87,327		6,931	Maiden Holdings Ltd		118,634		153
		$		14,777	Navigators Group Inc/The		40,025		2,794
Hand & Machine Tools - 0.24%					NMI Holdings Inc (a)		114,254		2,514
Franklin Electric Co Inc		66,860		3,195	ProAssurance Corp		92,428		3,943
Healthcare - Products - 3.00%					RLI Corp		67,459		4,453
AngioDynamics Inc (a)		63,970		1,350	Safety Insurance Group Inc		25,026		2,060
BioTelemetry Inc (a)		57,389		4,122	Selective Insurance Group Inc		101,480		6,182
CONMED Corp		44,595		3,137	Stewart Information Services Corp		40,911		1,819
CryoLife Inc (a)		58,608		1,636	Third Point Reinsurance Ltd (a)		128,200		1,347
Cutera Inc (a)		23,960		344	United Fire Group Inc		36,724		1,910
Integer Holdings Corp (a)		51,339		4,158	United Insurance Holdings Corp		37,036		604
Invacare Corp		57,204		294	Universal Insurance Holdings Inc		55,391		2,089
Lantheus Holdings Inc (a)		66,284		1,115			$		48,041
LeMaitre Vascular Inc		27,333		652	Internet - 1.73%
Luminex Corp		71,445		1,992	Cogent Communications Holdings Inc		72,074		3,492
Meridian Bioscience Inc		73,070		1,198	ePlus Inc (a)		23,618		1,871
Merit Medical Systems Inc (a)		94,492		5,342	HealthStream Inc		44,006		1,107
Natus Medical Inc (a)		58,213		1,964	Liquidity Services Inc (a)		45,601		382
OraSure Technologies Inc (a)		105,547		1,356	New Media Investment Group Inc		93,516		1,278
Orthofix Medical Inc (a)		32,605		1,764	NIC Inc		114,715		1,881
Repligen Corp (a)		67,266		3,835	Perficient Inc (a)		57,181		1,459
Surmodics Inc (a)		23,088		1,322	QuinStreet Inc (a)		66,252		1,262
Tactile Systems Technology Inc (a)		28,968		1,929	Shutterfly Inc (a)		57,908		2,662
Varex Imaging Corp (a)		65,688		1,871	Shutterstock Inc		32,000		1,280
		$		39,381	Stamps.com Inc (a)		29,323		5,456
Healthcare - Services - 2.37%					TechTarget Inc (a)		38,121		553
Addus HomeCare Corp (a)		17,379		1,045			$		22,683
Amedisys Inc (a)		50,006		6,559	Iron & Steel - 0.12%
Community Health Systems Inc (a)		200,386		789	AK Steel Holding Corp (a)		543,757		1,604
Ensign Group Inc/The		84,749		3,692	Leisure Products & Services - 0.59%
LHC Group Inc (a)		50,280		5,316	Callaway Golf Co		153,079		2,494
Magellan Health Inc (a)		41,798		2,724	Fox Factory Holding Corp (a)		65,462		3,884
Medpace Holdings Inc (a)		44,654		2,876	Nautilus Inc (a)		51,331		385
Providence Service Corp/The (a)		18,985		1,218	Vista Outdoor Inc (a)		99,221		990
Quorum Health Corp (a)		44,007		129			$		7,753
Select Medical Holdings Corp (a)		186,569		2,914	Lodging - 0.41%
Tivity Health Inc (a)		70,577		1,571	Belmond Ltd (a)		154,405		3,848
US Physical Therapy Inc		21,859		2,315	Marcus Corp/The		34,442		1,535
		$		31,148			$		5,383
					Machinery - Construction & Mining - 0.11%
					Astec Industries Inc		39,287		1,454

See accompanying notes.

255

     Schedule of Investments SmallCap S&P 600 Index Fund January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Machinery - Diversified - 1.79%					Oil & Gas Services - 1.40%
Alamo Group Inc		16,582	$	1,428	Archrock Inc		222,881	$	2,104
Albany International Corp		49,974		3,431	Bristow Group Inc (a)		61,688		203
Applied Industrial Technologies Inc		66,784		3,941	C&J Energy Services Inc (a)		107,899		1,734
Briggs & Stratton Corp		73,046		941	CARBO Ceramics Inc (a)		36,804		148
Chart Industries Inc (a)		53,772		4,017	Era Group Inc (a)		35,251		332
DXP Enterprises Inc/TX (a)		27,552		907	Exterran Corp (a)		54,201		941
Ichor Holdings Ltd (a)		39,382		810	Geospace Technologies Corp (a)		23,437		352
Lindsay Corp		18,537		1,592	Gulf Island Fabrication Inc (a)		23,652		225
SPX Corp (a)		74,775		2,225	Helix Energy Solutions Group Inc (a)		239,986		1,639
SPX FLOW Inc (a)		73,327		2,403	KLX Energy Services Holdings Inc (a)		38,535		1,004
Tennant Co		31,233		1,834	Matrix Service Co (a)		46,651		1,001
		$		23,529	Newpark Resources Inc (a)		156,484		1,300
Media - 0.46%					Oil States International Inc (a)		103,358		1,780
EW Scripps Co/The		97,135		1,824	Pioneer Energy Services Corp (a)		134,760		199
Gannett Co Inc		194,915		2,161	ProPetro Holding Corp (a)		126,726		2,071
Scholastic Corp		47,820		1,994	Superior Energy Services Inc (a)		266,293		1,041
		$		5,979	TETRA Technologies Inc (a)		216,629		461
Metal Fabrication & Hardware - 0.51%					US Silica Holdings Inc		133,570		1,801
AZZ Inc		44,890		2,009			$		18,336
CIRCOR International Inc (a)		34,196		945	Packaging & Containers - 0.09%
Mueller Industries Inc		99,379		2,575	Multi-Color Corp		24,042		1,119
Olympic Steel Inc		15,742		303	Pharmaceuticals - 2.38%
TimkenSteel Corp (a)		67,601		861	Akorn Inc (a)		162,190		610
		$		6,693	Amphastar Pharmaceuticals Inc (a)		59,579		1,356
Mining - 0.40%					Anika Therapeutics Inc (a)		24,490		930
Century Aluminum Co (a)		84,566		778	Assertio Therapeutics Inc (a)		110,182		491
Kaiser Aluminum Corp		28,438		2,855	Corcept Therapeutics Inc (a)		181,079		2,025
Materion Corp		34,885		1,637	Cytokinetics Inc (a)		94,280		663
		$		5,270	Diplomat Pharmacy Inc (a)		97,537		1,414
Miscellaneous Manufacturers - 3.46%					Eagle Pharmaceuticals Inc/DE (a)		18,953		801
Actuant Corp		105,228		2,409	Enanta Pharmaceuticals Inc (a)		27,112		2,154
Axon Enterprise Inc (a)		100,722		5,138	Endo International PLC (a)		344,076		3,355
EnPro Industries Inc		35,739		2,361	Heska Corp (a)		11,769		1,160
ESCO Technologies Inc		44,651		2,907	Lannett Co Inc (a)		58,399		436
Fabrinet (a)		63,472		3,608	Momenta Pharmaceuticals Inc (a)		165,430		1,962
Federal Signal Corp		103,812		2,282	Neogen Corp (a)		89,600		5,458
Harsco Corp (a)		138,400		2,948	Owens & Minor Inc		107,306		812
Haynes International Inc		21,548		707	Phibro Animal Health Corp		34,826		1,087
Hillenbrand Inc		107,439		4,555	Progenics Pharmaceuticals Inc (a)		145,688		645
John Bean Technologies Corp		54,468		4,327	Supernus Pharmaceuticals Inc (a)		90,051		3,434
LSB Industries Inc (a)		35,005		261	Vanda Pharmaceuticals Inc (a)		90,385		2,452
Lydall Inc (a)		29,996		795			$		31,245
Myers Industries Inc		60,920		990	Real Estate - 0.49%
Proto Labs Inc (a)		46,648		5,791	HFF Inc		67,408		2,792
Raven Industries Inc		61,961		2,292	Marcus & Millichap Inc (a)		36,633		1,450
Standex International Corp		22,107		1,649	RE/MAX Holdings Inc		30,580		1,276
Sturm Ruger & Co Inc		30,084		1,639	Whitestone REIT		68,538		972
Tredegar Corp		44,022		718			$		6,490
		$		45,377	REITs - 7.34%
Office Furnishings - 0.13%					Acadia Realty Trust		140,536		4,038
Interface Inc		102,567		1,683	Agree Realty Corp		59,422		3,924
Oil & Gas - 1.59%					American Assets Trust Inc		65,100		2,795
Bonanza Creek Energy Inc (a)		32,216		743	Apollo Commercial Real Estate Finance Inc		193,757		3,526
Carrizo Oil & Gas Inc (a)		146,841		1,803	Armada Hoffler Properties Inc		85,521		1,285
Denbury Resources Inc (a)		793,642		1,611	ARMOUR Residential REIT Inc		83,280		1,751
Gulfport Energy Corp (a)		271,764		2,280	Capstead Mortgage Corp		156,692		1,155
HighPoint Resources Corp (a)		190,369		533	CareTrust REIT Inc		144,553		3,177
Laredo Petroleum Inc (a)		261,975		995	CBL & Associates Properties Inc		297,551		741
Nabors Industries Ltd		561,078		1,661	Cedar Realty Trust Inc		152,040		531
Noble Corp PLC (a)		425,287		1,403	Chatham Lodging Trust		80,158		1,620
Par Pacific Holdings Inc (a)		48,220		784	Chesapeake Lodging Trust		104,073		2,964
PDC Energy Inc (a)		113,872		3,709	Community Healthcare Trust Inc		30,341		1,002
Penn Virginia Corp (a)		23,118		1,213	DiamondRock Hospitality Co		358,299		3,640
Ring Energy Inc (a)		98,067		577	Easterly Government Properties Inc		104,806		1,882
SRC Energy Inc (a)		418,062		2,057	EastGroup Properties Inc		62,107		6,426
Unit Corp (a)		93,156		1,487	Four Corners Property Trust Inc		116,758		3,297
		$		20,856	Franklin Street Properties Corp		184,785		1,371
					Getty Realty Corp		57,974		1,859
					Global Net Lease Inc		131,091		2,542

See accompanying notes.

256

     Schedule of Investments SmallCap S&P 600 Index Fund January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held  Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
REITs (continued)					Retail (continued)
Hersha Hospitality Trust		62,502	$	1,158	Wingstop Inc		50,484	$	3,314
Independence Realty Trust Inc		153,233		1,601	Zumiez Inc (a)		32,557		827
Invesco Mortgage Capital Inc		192,406		3,098			$		72,677
iStar Inc		117,160		1,124	Savings & Loans - 1.47%
Kite Realty Group Trust		144,261		2,399	Axos Financial Inc (a)		95,282		2,893
Lexington Realty Trust		362,372		3,482	Banc of California Inc		73,491		1,071
LTC Properties Inc		68,338		3,242	Berkshire Hills Bancorp Inc		69,655		1,898
National Storage Affiliates Trust		97,485		2,837	Brookline Bancorp Inc		138,702		2,062
New York Mortgage Trust Inc		289,805		1,820	Dime Community Bancshares Inc		53,384		1,053
Office Properties Income Trust		82,610		2,646	Northfield Bancorp Inc		81,106		1,161
Pennsylvania Real Estate Investment Trust		110,500		814	Northwest Bancshares Inc		178,013		3,140
PennyMac Mortgage Investment Trust		105,033		2,126	Oritani Financial Corp		66,637		1,124
PS Business Parks Inc		34,401		4,995	Pacific Premier Bancorp Inc		77,512		2,306
Redwood Trust Inc		160,157		2,583	Provident Financial Services Inc		105,948		2,618
Retail Opportunity Investments Corp		196,424		3,451			$		19,326
RPT Realty		138,123		1,808	Semiconductors - 3.14%
Saul Centers Inc		19,862		1,052	Axcelis Technologies Inc (a)		55,853		1,163
Summit Hotel Properties Inc		180,529		2,017	Brooks Automation Inc		123,688		3,850
Universal Health Realty Income Trust		21,792		1,519	Cabot Microelectronics Corp		49,376		5,031
Urstadt Biddle Properties Inc		51,376		1,100	CEVA Inc (a)		37,743		1,073
Washington Prime Group Inc		320,652		1,821	Cohu Inc		70,136		1,230
		$		96,219	CTS Corp		57,017		1,618
Retail - 5.54%					Diodes Inc (a)		68,369		2,299
Abercrombie & Fitch Co		113,464		2,459	DSP Group Inc (a)		33,277		421
Asbury Automotive Group Inc (a)		33,780		2,387	FormFactor Inc (a)		127,696		1,918
Ascena Retail Group Inc (a)		299,405		734	Kopin Corp (a)		105,623		146
Barnes & Noble Education Inc (a)		63,108		361	Kulicke & Soffa Industries Inc		115,755		2,608
Barnes & Noble Inc		98,350		593	MaxLinear Inc (a)		108,147		2,122
BJ's Restaurants Inc		36,691		1,828	Nanometrics Inc (a)		41,730		1,277
Buckle Inc/The		48,992		851	Photronics Inc (a)		117,849		1,260
Caleres Inc		74,442		2,221	Power Integrations Inc		50,542		3,336
Cato Corp/The		39,368		585	Rambus Inc (a)		186,974		1,686
Chico's FAS Inc		216,672		1,257	Rudolph Technologies Inc (a)		54,973		1,194
Children's Place Inc/The		27,907		2,700	Semtech Corp (a)		113,406		5,507
Chuy's Holdings Inc (a)		29,209		664	Ultra Clean Holdings Inc (a)		67,230		797
Dave & Buster's Entertainment Inc		66,916		3,443	Veeco Instruments Inc (a)		82,360		808
Dine Brands Global Inc		30,522		2,328	Xperi Corp		83,437		1,788
DSW Inc		117,538		3,203			$		41,132
El Pollo Loco Holdings Inc (a)		38,373		633	Software - 2.53%
Express Inc (a)		126,454		670	Bottomline Technologies DE Inc (a)		63,072		3,258
EZCORP Inc (a)		88,945		829	Computer Programs & Systems Inc		20,629		541
Fiesta Restaurant Group Inc (a)		40,395		600	CSG Systems International Inc		57,433		2,079
FirstCash Inc		75,534		6,226	Donnelley Financial Solutions Inc (a)		58,762		860
GameStop Corp		175,680		1,992	Ebix Inc		38,798		2,216
Genesco Inc (a)		34,797		1,572	LivePerson Inc (a)		100,539		2,360
Group 1 Automotive Inc		31,389		1,916	ManTech International Corp/VA		45,741		2,578
Guess? Inc		97,755		1,907	MicroStrategy Inc (a)		16,253		2,062
Haverty Furniture Cos Inc		32,703		666	Monotype Imaging Holdings Inc		71,588		1,188
Hibbett Sports Inc (a)		31,977		523	NextGen Healthcare Inc (a)		82,464		1,458
JC Penney Co Inc (a)		543,511		717	Omnicell Inc (a)		68,285		4,447
Kirkland's Inc (a)		25,605		262	PDF Solutions Inc (a)		47,831		503
La-Z-Boy Inc		80,704		2,390	Progress Software Corp		77,380		2,804
Lithia Motors Inc		38,824		3,453	SPS Commerce Inc (a)		30,441		2,699
Lumber Liquidators Holdings Inc (a)		49,319		593	Tabula Rasa HealthCare Inc (a)		29,272		1,765
MarineMax Inc (a)		39,386		700	TiVo Corp		213,557		2,377
Movado Group Inc		28,432		908			$		33,195
Office Depot Inc		942,960		2,782	Storage & Warehousing - 0.22%
PetMed Express Inc		35,627		844	Mobile Mini Inc		77,015		2,910
Red Robin Gourmet Burgers Inc (a)		22,365		715
Regis Corp (a)		57,291		1,068	Telecommunications - 2.28%
RH (a)		32,174		4,372	8x8 Inc (a)		164,348		2,894
Ruth's Hospitality Group Inc		49,375		1,141	ADTRAN Inc		82,113		1,197
Shake Shack Inc (a)		44,539		2,127	ATN International Inc		18,707		1,395
Shoe Carnival Inc		17,288		638	CalAmp Corp (a)		59,902		863
Sonic Automotive Inc		40,763		624	Cincinnati Bell Inc (a)		86,448		721
Tailored Brands Inc		86,014		1,086	Consolidated Communications Holdings Inc		122,783		1,311
Tile Shop Holdings Inc		67,279		511	Digi International Inc (a)		47,334		562
Vera Bradley Inc (a)		37,167		333	Extreme Networks Inc (a)		203,924		1,542
Vitamin Shoppe Inc (a)		26,939		124	Finisar Corp (a)		202,316		4,609
					Frontier Communications Corp (a)		181,888		364

See accompanying notes.

257

Schedule of Investments
SmallCap S&P 600 Index Fund
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held     Value (000’s)				(a)	Non-income producing security
Telecommunications (continued)					(b)	Restricted Security. Please see Restricted Security Sub-Schedule for more
Harmonic Inc (a)		149,402	$	790		information.
Iridium Communications Inc (a)		166,922		3,235	(c)	Fair value of these investments is determined in good faith by the Manager
NETGEAR Inc (a)		54,336		2,152		under procedures established and periodically reviewed by the Board of
Spok Holdings Inc		31,180		432		Directors. Certain inputs used in the valuation may be unobservable; however,
Viavi Solutions Inc (a)		393,628		4,377		each security is evaluated individually for purposes of ASC 820 which results
Vonage Holdings Corp (a)		379,829		3,460		in not all securities being identified as Level 3 of the fair value hierarchy. At
		$		29,904		the end of the period, the fair value of these securities totaled $93 or 0.01% of
Textiles - 0.28%						net assets.
UniFirst Corp/MA		26,594		3,681	(d)	Affiliated Security. Security is either an affiliate (and registered under the
Transportation - 1.52%						Investment Company Act of 1940) or an affiliate as defined by the Investment
ArcBest Corp		44,270		1,666		Company Act of 1940 (controls 5.0% or more of the outstanding voting
Atlas Air Worldwide Holdings Inc (a)		44,097		2,347		shares of the security). Please see affiliated sub-schedule for transactional
Echo Global Logistics Inc (a)		49,193		1,169		information.
Forward Air Corp		50,323		2,945	(e)	Current yield shown is as of period end.
Heartland Express Inc		81,884		1,639
Hub Group Inc (a)		57,922		2,578		Portfolio Summary  (unaudited)
Marten Transport Ltd		66,636		1,289	Sector		Percent
Matson Inc		73,591		2,466	Financial		23.70	%
Saia Inc (a)		44,277		2,655	Industrial		17.88	%
SEACOR Holdings Inc (a)		29,557		1,223	Consumer, Non-cyclical		17.87	%
		$		19,977	Consumer, Cyclical		13.97	%
Trucking & Leasing - 0.18%					Technology		8.33	%
Greenbrier Cos Inc/The		55,747		2,364	Communications		4.47	%
Water - 0.64%					Basic Materials		3.95	%
American States Water Co		63,320		4,288	Energy		3.80	%
California Water Service Group		82,833		4,102	Investment Companies		2.88	%
		$		8,390	Utilities		2.41	%
TOTAL COMMON STOCKS		$		1,264,219	Other Assets and Liabilities		0.74	%
INVESTMENT COMPANIES - 2.88%	Shares Held     Value (000's)				TOTAL NET ASSETS		100.00	%
Exchange-Traded Funds - 0.09%
iShares Core S&P Small-Cap ETF		14,044		1,077
Money Market Funds - 2.79%
Principal Government Money Market Fund	36,642,732			36,643
2.32%(d),(e)
TOTAL INVESTMENT COMPANIES		$		37,720
Total Investments		$		1,301,939
Other Assets and Liabilities -  0.74%				9,736
TOTAL NET ASSETS - 100.00%		$		1,311,675

Affiliated Securities		October 31, 2018						Purchases		Sales		January 31, 2019
		Value						Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$			48,612		$		105,133	$	117,102	$		36,643
	$			48,612		$		105,133	$	117,102	$		36,643
				Realized Gain/Loss				Realized Gain from				Change in Unrealized
		Income		on Investments				Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	190	$		— $					— $			—
	$	190	$		— $					— $			—
Amounts in thousands
Restricted Securities
Security Name		Acquisition Date						Cost		Value		Percent of Net Assets
A. Schulman Inc.		08/22/2018					$	97	$	93			0.01	%
Total									$	93			0.01	%
Amounts in thousands.
Futures Contracts
Description and Expiration Date		Type		Contracts						Notional Amount		Value and Unrealized Appreciation/(Depreciation)
Russell 2000 Emini; March 2019		Long			482		$	36,155			$		2,250
Total											$		2,250
Amounts in thousands except contracts.

See accompanying notes.

258

Schedule of Investments SmallCap Value Fund II

January 31, 2019 (unaudited)

COMMON STOCKS - 96.19%	Shares Held    Value (000's)			COMMON STOCKS (continued)	Shares Held Value (000’s)
Advertising - 0.15%				Automobile Parts & Equipment (continued)
Boston Omaha Corp (a)	530	$	13	Titan International Inc		5,457	$	31
Clear Channel Outdoor Holdings Inc (a)	3,763		21	Tower International Inc		56,109		1,632
Fluent Inc (a)	3,721		18			$		14,772
MDC Partners Inc (a)	507,330		1,507	Banks - 14.45%
Telaria Inc (a)	2,972		9	1st Constitution Bancorp		984		19
	$		1,568	1st Source Corp		26,845		1,219
Aerospace & Defense - 1.21%				Access National Corp		30,600		723
AAR Corp	169,311		6,380	ACNB Corp		745		27
Aerovironment Inc (a)	2,050		159	Allegiance Bancshares Inc (a)		1,033		37
Barnes Group Inc	26,065		1,540	Amalgamated Bank		39,300		705
Curtiss-Wright Corp	150		17	American National Bankshares Inc		11,078		362
Ducommun Inc (a)	1,106		44	Ames National Corp		931		23
Esterline Technologies Corp (a)	1,997		243	Arrow Financial Corp		5,008		160
Kratos Defense & Security Solutions Inc (a)	4,239		66	Associated Banc-Corp		71,600		1,550
Moog Inc	28,927		2,588	Atlantic Capital Bancshares Inc (a)		939		17
National Presto Industries Inc	12,743		1,524	Auburn National Bancorporation Inc		399		13
Triumph Group Inc	3,644		65	BancFirst Corp		1,052		56
Wesco Aircraft Holdings Inc (a)	3,899		34	Bancorp Inc/The (a)		27,936		237
	$		12,660	BancorpSouth Bank		7,195		210
Agriculture - 0.18%				Bank of Commerce Holdings		1,829		20
Alico Inc	387		11	Bank of Hawaii Corp		10,200		789
Andersons Inc/The	3,300		116	Bank of Marin Bancorp		1,417		59
Cadiz Inc (a)	2,255		23	Bank of Princeton/The		692		20
Limoneira Co	4,088		90	Bank7 Corp (a)		505		8
Tejon Ranch Co (a)	2,371		45	BankUnited Inc		45,600		1,542
Universal Corp/VA	16,706		964	Bankwell Financial Group Inc		636		18
Vector Group Ltd	59,286		652	Banner Corp		5,407		295
	$		1,901	Bar Harbor Bankshares		17,038		407
Airlines - 0.31%				Baycom Corp (a)		1,114		24
Allegiant Travel Co	6,146		799	BCB Bancorp Inc		1,664		20
Hawaiian Holdings Inc	51,197		1,640	Blue Hills Bancorp Inc		1,322		31
Mesa Air Group Inc (a)	1,059		9	Bridge Bancorp Inc		28,469		876
SkyWest Inc	9,974		508	Bridgewater Bancshares Inc (a)		2,569		29
Spirit Airlines Inc (a)	5,256		309	Bryn Mawr Bank Corp		16,356		605
	$		3,265	Business First Bancshares Inc		1,170		27
Apparel - 0.98%				Byline Bancorp Inc (a)		1,795		34
Carter's Inc	77,100		6,392	C&F Financial Corp		398		20
Columbia Sportswear Co	2,820		251	Cadence BanCorp		29,513		554
Deckers Outdoor Corp (a)	1,020		131	Cambridge Bancorp		279		21
Rocky Brands Inc	778		21	Camden National Corp		21,082		855
Unifi Inc (a)	19,918		426	Capital Bancorp Inc (a)		784		9
Weyco Group Inc	679		18	Capital City Bank Group Inc		1,774		42
Wolverine World Wide Inc	87,375		2,998	Capstar Financial Holdings Inc		760		12
	$		10,237	Carolina Financial Corp		48,071		1,664
				Cathay General Bancorp		56,759		2,107
Automobile Manufacturers - 0.70%				CB Financial Services Inc		602		15
Blue Bird Corp (a)	74,059		1,471	CBTX Inc		1,917		62
Navistar International Corp (a)	53,101		1,744	CenterState Bank Corp		17,198		427
REV Group Inc	321,048		2,669	Central Pacific Financial Corp		8,374		240
Wabash National Corp	104,901		1,462	Central Valley Community Bancorp		1,280		25
	$		7,346	Century Bancorp Inc/MA		297		23
Automobile Parts & Equipment - 1.41%				Chemical Financial Corp		221,880		9,864
Adient PLC	80,076		1,581	Chemung Financial Corp		436		18
Altra Industrial Motion Corp	12,768		390	Citizens & Northern Corp		2,900		73
American Axle & Manufacturing Holdings Inc (a)	12,586		186	City Holding Co		12,540		899
Commercial Vehicle Group Inc (a)	218,539		1,632	Civista Bancshares Inc		1,116		21
Cooper Tire & Rubber Co	37,843		1,332	CNB Financial Corp/PA		1,977		50
Cooper-Standard Holdings Inc (a)	22,936		1,754	Coastal Financial Corp/WA (a)		727		11
Dana Inc	2,503		44	Codorus Valley Bancorp Inc		972		21
Delphi Technologies PLC	23,500		421	Columbia Banking System Inc		11,266		414
Gentherm Inc (a)	2,659		113	Community Bank System Inc		8,288		497
Meritor Inc (a)	78,184		1,617	Community Financial Corp/The		600		18
Methode Electronics Inc	87,552		2,255	Community Trust Bancorp Inc		19,432		789
Miller Industries Inc/TN	1,081		32	ConnectOne Bancorp Inc		59,065		1,181
Modine Manufacturing Co (a)	4,389		64	County Bancorp Inc		797		14
Motorcar Parts of America Inc (a)	62,805		1,256	Customers Bancorp Inc (a)		86,882		1,708
Standard Motor Products Inc	6,581		324	CVB Financial Corp		66,619		1,460
Superior Industries International Inc	5,110		27	Eagle Bancorp Inc (a)		25,734		1,412
Tenneco Inc	2,341		81	Enterprise Bancorp Inc/MA		947		31

See accompanying notes.

259

Schedule of Investments
SmallCap Value Fund II
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held     Value (000’s)			COMMON STOCKS (continued)	Shares Held Value (000’s)
Banks (continued)				Banks (continued)
Enterprise Financial Services Corp	148,291	$	6,544	MB Financial Inc		5,865	$	260
Equity Bancshares Inc (a)	972		31	MBT Financial Corp		2,057		21
Esquire Financial Holdings Inc (a)	497		11	Mercantile Bank Corp		2,346		78
Evans Bancorp Inc	567		20	Merchants Bancorp/IN		35,104		687
Farmers & Merchants Bancorp Inc/Archbold OH	184		6	Meta Financial Group Inc		11,490		271
Farmers National Banc Corp	2,717		35	Metropolitan Bank Holding Corp (a)		730		26
FB Financial Corp	891		29	Middlefield Banc Corp		383		16
Fidelity Southern Corp	2,171		66	Midland States Bancorp Inc		64,835		1,563
Financial Institutions Inc	33,628		902	MidWestOne Financial Group Inc		13,876		385
First Bancorp Inc/ME	1,046		27	MVB Financial Corp		1,091		18
First BanCorp/Puerto Rico	184,739		1,967	National Bank Holdings Corp		6,915		221
First Bancorp/Southern Pines NC	182,684		6,717	National Bankshares Inc		763		26
First Bancshares Inc/The	1,320		43	National Commerce Corp (a)		1,050		43
First Bank/Hamilton NJ	1,746		20	NBT Bancorp Inc		13,595		484
First Busey Corp	10,898		270	Nicolet Bankshares Inc (a)		876		48
First Business Financial Services Inc	17,068		352	Northeast Bancorp		848		17
First Choice Bancorp	943		20	Northrim BanCorp Inc		12,856		426
First Commonwealth Financial Corp	12,046		164	Norwood Financial Corp		678		20
First Community Bankshares Inc	1,683		58	OFG Bancorp		11,040		214
First Community Corp/SC	878		18	Ohio Valley Banc Corp		541		19
First Financial Bancorp	377,747		9,946	Old Line Bancshares Inc		1,477		40
First Financial Corp/IN	25,883		1,074	Old National Bancorp/IN		34,174		552
First Foundation Inc	2,721		40	Old Second Bancorp Inc		3,095		43
First Guaranty Bancshares Inc	631		14	OP Bancorp		1,882		17
First Hawaiian Inc	59,107		1,521	Opus Bank		36,799		769
First Internet Bancorp	45,575		911	Origin Bancorp Inc		1,198		41
First Interstate BancSystem Inc	4,065		158	Orrstown Financial Services Inc		17,214		324
First Merchants Corp	233,374		8,548	Pacific City Financial Corp		1,360		22
First Mid-Illinois Bancshares Inc	12,002		391	Pacific Mercantile Bancorp (a)		1,960		15
First Midwest Bancorp Inc/IL	11,725		258	Park National Corp		5,676		534
First of Long Island Corp/The	2,457		51	Parke Bancorp Inc		866		17
First United Corp	823		13	PCSB Financial Corp		1,598		32
Flagstar Bancorp Inc	2,196		68	Peapack Gladstone Financial Corp		45,118		1,204
FNB Corp/PA	99,700		1,162	Penns Woods Bancorp Inc		541		19
Franklin Financial Network Inc	53,699		1,711	Peoples Bancorp Inc/OH		1,787		57
Fulton Financial Corp	35,387		568	Peoples Bancorp of North Carolina Inc		648		17
FVCBankcorp Inc (a)	331		6	Peoples Financial Services Corp		755		31
German American Bancorp Inc	4,888		143	Preferred Bank/Los Angeles CA		1,430		67
Glacier Bancorp Inc	12,208		515	Premier Financial Bancorp Inc		1,255		18
Great Southern Bancorp Inc	8,615		459	QCR Holdings Inc		1,372		47
Great Western Bancorp Inc	52,112		1,839	RBB Bancorp		21,665		404
Guaranty Bancshares Inc/TX	825		25	Reliant Bancorp Inc		1,041		22
Hancock Whitney Corp	28,476		1,170	Renasant Corp		33,918		1,205
Hanmi Financial Corp	76,772		1,684	Republic Bancorp Inc/KY		1,026		43
HarborOne Bancorp Inc (a)	1,014		15	S&T Bancorp Inc		18,755		721
Heartland Financial USA Inc	3,495		159	Sandy Spring Bancorp Inc		26,325		859
Heritage Commerce Corp	4,941		66	SB One Bancorp		842		18
Heritage Financial Corp/WA	2,789		86	Seacoast Banking Corp of Florida (a)		2,822		78
Hilltop Holdings Inc	86,144		1,586	Select Bancorp Inc (a)		1,737		21
Home BancShares Inc/AR	90,372		1,655	Shore Bancshares Inc		1,419		21
HomeStreet Inc (a)	68,129		1,667	Sierra Bancorp		4,790		127
Hope Bancorp Inc	146,424		2,095	Simmons First National Corp		24,351		602
Horizon Bancorp Inc/IN	26,035		420	SmartFinancial Inc (a)		1,176		23
Howard Bancorp Inc (a)	1,213		16	South State Corp		21,089		1,400
IBERIABANK Corp	15,336		1,133	Southern First Bancshares Inc (a)		652		23
Independent Bank Corp/MI	11,382		252	Southern National Bancorp of Virginia Inc		53,011		800
Independent Bank Corp/Rockland MA	2,784		222	Southside Bancshares Inc		2,472		82
Independent Bank Group Inc	2,351		124	Spirit of Texas Bancshares Inc (a)		990		22
International Bancshares Corp	40,472		1,435	Sterling Bancorp Inc/MI		44,977		386
Investar Holding Corp	768		18	Stock Yards Bancorp Inc		3,223		111
Kearny Financial Corp/MD	4,711		60	Summit Financial Group Inc		1,262		30
Lakeland Bancorp Inc	52,058		814	Synovus Financial Corp		427		15
Lakeland Financial Corp	119,221		5,369	TCF Financial Corp		52,500		1,163
LCNB Corp	1,103		18	Texas Capital Bancshares Inc (a)		27,050		1,577
LegacyTexas Financial Group Inc	14,491		578	Tompkins Financial Corp		1,978		146
Level One Bancorp Inc	617		15	Towne Bank/Portsmouth VA		26,385		685
Live Oak Bancshares Inc	95,035		1,321	TriCo Bancshares		25,817		975
Luther Burbank Corp	79,513		751	TriState Capital Holdings Inc (a)		8,389		170
Macatawa Bank Corp	2,645		26	Triumph Bancorp Inc (a)		23,500		716

See accompanying notes.

260

Schedule of Investments
SmallCap Value Fund II
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Banks (continued)					Biotechnology (continued)
TrustCo Bank Corp NY		190,817	$	1,480	Nymox Pharmaceutical Corp (a)		2,782	$	6
Trustmark Corp		58,979		1,860	Osmotica Pharmaceuticals PLC (a)		357		3
UMB Financial Corp		3,494		225	Ovid therapeutics Inc (a)		469		1
Umpqua Holdings Corp		5,090		90	PDL BioPharma Inc (a)		14,019		45
Union Bankshares Corp		243,749		7,693	Prothena Corp PLC (a)		3,929		46
United Bankshares Inc/WV		29,713		1,051	Rigel Pharmaceuticals Inc (a)		2,181		5
United Community Banks Inc/GA		343,840		8,843	RTI Surgical Inc (a)		28,472		125
United Security Bancshares/Fresno CA		1,555		16	Rubius Therapeutics Inc (a)		237		3
Unity Bancorp Inc		959		19	Spectrum Pharmaceuticals Inc (a)		790		9
Univest Financial Corp		21,952		516	Syndax Pharmaceuticals Inc (a)		1,240		7
Valley National Bancorp		170,758		1,726	Synlogic Inc (a)		1,824		15
Veritex Holdings Inc		4,515		119	Tocagen Inc (a)		154		2
Walker & Dunlop Inc		3,010		145	XOMA Corp (a)		414		5
Washington Trust Bancorp Inc		8,410		438			$		1,310
WesBanco Inc		10,627		432	Building Materials - 1.68%
West Bancorporation Inc		17,981		387	American Woodmark Corp (a)		67,825		4,744
Westamerica Bancorporation		1,967		123	Apogee Enterprises Inc		45,597		1,554
Western New England Bancorp Inc		2,957		27	Armstrong Flooring Inc (a)		117,619		1,590
Wintrust Financial Corp		7,830		557	Boise Cascade Co		46,090		1,266
		$		151,096	Builders FirstSource Inc (a)		30,531		404
Beverages - 0.00%					Caesarstone Ltd		102,637		1,579
Farmer Brothers Co (a)		1,004		25	Eagle Materials Inc		11,400		809
MGP Ingredients Inc		139		10	Gibraltar Industries Inc (a)		3,693		132
		$		35	Griffon Corp		3,166		50
Biotechnology - 0.13%					Louisiana-Pacific Corp		88,263		2,152
Abeona Therapeutics Inc (a)		405		3	Masonite International Corp (a)		30,174		1,726
Acceleron Pharma Inc (a)		596		25	Simpson Manufacturing Co Inc		1,095		67
Achillion Pharmaceuticals Inc (a)		12,453		27	Universal Forest Products Inc		48,797		1,504
Acorda Therapeutics Inc (a)		3,621		60			$		17,577
Adverum Biotechnologies Inc (a)		4,916		16	Chemicals - 1.85%
AgeX Therapeutics Inc (a)		833		3	AdvanSix Inc (a)		2,567		81
Albireo Pharma Inc (a)		782		20	American Vanguard Corp		41,222		722
Alder Biopharmaceuticals Inc (a)		1,085		15	Cabot Corp		24,600		1,154
Allakos Inc (a)		160		6	Hawkins Inc		1,044		43
Allogene Therapeutics Inc (a)		347		10	HB Fuller Co		977		48
AMAG Pharmaceuticals Inc (a)		3,286		54	Innophos Holdings Inc		47,602		1,423
Aptinyx Inc (a)		260		1	Innospec Inc		19,857		1,395
Aratana Therapeutics Inc (a)		2,994		13	Intrepid Potash Inc (a)		17,877		56
Arbutus Biopharma Corp (a)		2,525		9	Koppers Holdings Inc (a)		15,193		346
Arcus Biosciences Inc (a)		937		9	Kraton Corp (a)		941		27
Ardelyx Inc (a)		4,648		10	Landec Corp (a)		2,550		32
Arena Pharmaceuticals Inc (a)		923		42	Minerals Technologies Inc		17,684		1,036
ArQule Inc (a)		1,123		4	Oil-Dri Corp of America		516		14
Audentes Therapeutics Inc (a)		347		9	Platform Specialty Products Corp (a)		550,950		6,193
AVEO Pharmaceuticals Inc (a)		4,321		3	PolyOne Corp		1,052		34
Avrobio Inc (a)		118		1	PQ Group Holdings Inc (a)		3,659		55
BioCryst Pharmaceuticals Inc (a)		1,613		14	Rayonier Advanced Materials Inc		61,407		889
BioTime Inc (a)		8,334		12	Rogers Corp (a)		3,049		387
Bluebird Bio Inc (a)		237		32	Sensient Technologies Corp		3,739		235
Calithera Biosciences Inc (a)		3,040		14	Stepan Co		4,476		394
Cambrex Corp (a)		5,409		236	Tronox Ltd		8,179		71
Cara Therapeutics Inc (a)		506		8	Valhi Inc		3,738		13
CASI Pharmaceuticals Inc (a)		659		2	Valvoline Inc		35,600		787
Crinetics Pharmaceuticals Inc (a)		135		4	Venator Materials PLC (a)		214,250		996
Dynavax Technologies Corp (a)		672		7	Versum Materials Inc		79,475		2,922
Emergent BioSolutions Inc (a)		1,680		105			$		19,353
Epizyme Inc (a)		1,557		16	Coal - 0.26%
Five Prime Therapeutics Inc (a)		3,279		37	Advanced Emissions Solutions Inc		533		6
Harvard Bioscience Inc (a)		4,440		15	Arch Coal Inc		3,664		323
Immunomedics Inc (a)		1,377		20	Cloud Peak Energy Inc (a)		10,401		4
Karyopharm Therapeutics Inc (a)		655		6	CONSOL Energy Inc (a)		8,051		287
MacroGenics Inc (a)		5,020		59	Hallador Energy Co		6,588		37
Medicines Co/The (a)		385		9	NACCO Industries Inc		2,573		87
Menlo Therapeutics Inc (a)		1,061		6	Peabody Energy Corp		19,615		700
Molecular Templates Inc (a)		1,257		6	Ramaco Resources Inc (a)		1,049		6
Myriad Genetics Inc (a)		873		25	SunCoke Energy Inc		7,002		79
NantKwest Inc (a)		3,342		4	SunCoke Energy Partners LP		60,078		819
NewLink Genetics Corp (a)		3,825		6	Warrior Met Coal Inc		12,968		373
Novavax Inc (a)		23,486		55			$		2,721

See accompanying notes.

261

Schedule of Investments SmallCap Value Fund II

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Commercial Services - 6.10%					Computers (continued)
Aaron's Inc		139,124	$	6,965	MTS Systems Corp		2,402	$	120
ABM Industries Inc		5,049		173	NetScout Systems Inc (a)		5,724		148
Acacia Research Corp (a)		5,086		15	PAR Technology Corp (a)		312		8
Adtalem Global Education Inc (a)		164,207		8,030	Perspecta Inc		367,078		7,360
American Public Education Inc (a)		9,985		295	Presidio Inc		185,939		2,962
AMN Healthcare Services Inc (a)		96,450		6,249	Science Applications International Corp		626		42
Arlo Technologies Inc (a)		4,097		29	Stratasys Ltd (a)		3,787		97
Avalara Inc (a)		185		7	Sykes Enterprises Inc (a)		16,567		456
Barrett Business Services Inc		18,972		1,189	Tenable Holdings Inc (a)		273		8
Booz Allen Hamilton Holding Corp		180,700		8,878	Unisys Corp (a)		1,664		22
Brink's Co/The		151,900		11,248	Virtusa Corp (a)		3,110		151
CAI International Inc (a)		987		25			$		29,694
Cardtronics PLC (a)		9,512		258	Consumer Products - 0.17%
Carriage Services Inc		1,198		23	ACCO Brands Corp		143,189		1,264
CBIZ Inc (a)		6,154		121	Central Garden & Pet Co (a)		269		11
CRA International Inc		6,470		270	Central Garden & Pet Co - A Shares (a)		742		26
Cross Country Healthcare Inc (a)		3,575		34	Helen of Troy Ltd (a)		3,138		364
Deluxe Corp		34,136		1,603	Quanex Building Products Corp		3,510		55
Emerald Expositions Events Inc		87,384		1,241	Rosetta Stone Inc (a)		1,632		25
Ennis Inc		80,614		1,599			$		1,745
EVERTEC Inc		5,489		152	Cosmetics & Personal Care - 0.02%
Evo Payments Inc (a)		482		12	Edgewell Personal Care Co (a)		5,762		227
FTI Consulting Inc (a)		10,787		737	Inter Parfums Inc		97		7
Green Dot Corp (a)		41,950		3,105			$		234
Hackett Group Inc/The		346		6	Distribution & Wholesale - 1.07%
Heidrick & Struggles International Inc		3,600		119	Anixter International Inc (a)		23,775		1,443
Hertz Global Holdings Inc (a)		4,157		69	Core-Mark Holding Co Inc		16,620		463
HMS Holdings Corp (a)		15,907		477	Essendant Inc		3,966		51
Huron Consulting Group Inc (a)		1,686		82	Fossil Group Inc (a)		2,700		46
I3 Verticals Inc (a)		271		7	G-III Apparel Group Ltd (a)		2,379		83
ICF International Inc		4,338		286	H&E Equipment Services Inc		535		14
K12 Inc (a)		10,458		329	KAR Auction Services Inc		121,575		6,323
Kelly Services Inc		51,778		1,159	Nexeo Solutions Inc (a)		3,603		34
Korn Ferry		28,445		1,298	ScanSource Inc (a)		13,310		510
Laureate Education Inc (a)		7,233		116	Systemax Inc		519		12
LiveRamp Holdings Inc (a)		2,974		129	Titan Machinery Inc (a)		8,057		151
LSC Communications Inc		3,421		27	Triton International Ltd/Bermuda		24,742		890
Matthews International Corp		3,457		154	Veritiv Corp (a)		1,159		40
National Research Corp		121		5	WESCO International Inc (a)		21,764		1,140
Navigant Consulting Inc		4,831		125			$		11,200
Quad/Graphics Inc		108,447		1,465
Rent-A-Center Inc/TX (a)		5,907		104	Diversified Financial Services - 3.80%
Resources Connection Inc		96,311		1,609	Aircastle Ltd		37,165		775
RR Donnelley & Sons Co		6,836		35	AllianceBernstein Holding LP		25,452		776
SEACOR Marine Holdings Inc (a)		1,675		22	Altisource Portfolio Solutions SA (a)		1,060		25
Sotheby's (a)		26,800		1,082	Blucora Inc (a)		201,867		5,957
SP Plus Corp (a)		2,166		72	Boston Private Financial Holdings Inc		105,926		1,229
Strategic Education Inc		1,300		142	Columbia Financial Inc (a)		3,714		55
Textainer Group Holdings Ltd (a)		2,762		36	Ellington Financial LLC		95,040		1,572
Travelport Worldwide Ltd		11,448		179	Encore Capital Group Inc (a)		1,985		59
TrueBlue Inc (a)		8,611		210	Federal Agricultural Mortgage Corp		656		46
Vectrus Inc (a)		67,153		1,692	Federated Investors Inc		51,196		1,337
Viad Corp		641		34	FRP Holdings Inc (a)		619		31
Weight Watchers International Inc (a)		12,553		402	GAIN Capital Holdings Inc		56,900		368
		$		63,730	GAMCO Investors Inc		22,607		450
					Granite Point Mortgage Trust Inc		5,089		99
Computers - 2.84%					Greenhill & Co Inc		38,599		967
3D Systems Corp (a)		7,912		101	Hannon Armstrong Sustainable Infrastructure		3,940		89
Agilysys Inc (a)		864		15	Capital Inc
CACI International Inc (a)		61,370		10,260	Investment Technology Group Inc		2,085		63
Cray Inc (a)		2,493		55	Ladenburg Thalmann Financial Services Inc		1,928		6
Cubic Corp		512		33	Legg Mason Inc		55,898		1,666
CyberArk Software Ltd (a)		67,175		5,895	LendingClub Corp (a)		23,840		76
Diebold Nixdorf Inc		7,656		32	LPL Financial Holdings Inc		151,900		10,689
Electronics For Imaging Inc (a)		5,666		150	Marlin Business Services Corp		837		19
ForeScout Technologies Inc (a)		930		28	Mr Cooper Group Inc (a)		23,150		356
Information Services Group Inc (a)		1,584		7	Navient Corp		140,150		1,598
Insight Enterprises Inc (a)		28,240		1,297	Nelnet Inc		1,379		73
Lumentum Holdings Inc (a)		1,681		82	NewStar Financial Inc (a),(b)		52,106		14
Mercury Systems Inc (a)		6,226		365	Och-Ziff Capital Management Group LLC		30,895		415

See accompanying notes.

262

Schedule of Investments SmallCap Value Fund II

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held     Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Diversified Financial Services (continued)					Electronics (continued)
On Deck Capital Inc (a)		16,150	$	121	Sparton Corp (a)		664	$	12
Oppenheimer Holdings Inc		41,776		1,125	Stoneridge Inc (a)		13,931		364
PennyMac Financial Services Inc		2,119		44	SYNNEX Corp		9,018		872
Piper Jaffray Cos		2,492		172	Tech Data Corp (a)		23,162		2,215
PJT Partners Inc		110		5	TTM Technologies Inc (a)		115,807		1,330
PRA Group Inc (a)		3,329		98	Vishay Intertechnology Inc		114,666		2,237
Pzena Investment Management Inc		9,946		87	Vishay Precision Group Inc (a)		2,591		86
Regional Management Corp (a)		2,621		72	Watts Water Technologies Inc		5,116		382
SLM Corp		81,500		873	ZAGG Inc (a)		100,454		1,127
Stifel Financial Corp		21,096		1,009			$		32,893
TPG RE Finance Trust Inc		4,232		84	Energy - Alternate Sources - 0.43%
Virtu Financial Inc		191,925		4,904	Clean Energy Fuels Corp (a)		14,364		27
Virtus Investment Partners Inc		12,400		1,116	FutureFuel Corp		20,581		377
Waddell & Reed Financial Inc		52,134		893	Green Plains Inc		3,883		55
Westwood Holdings Group Inc		9,800		359	Pattern Energy Group Inc		6,262		133
		$		39,772	Renewable Energy Group Inc (a)		31,842		920
Electric - 1.78%					REX American Resources Corp (a)		21,293		1,553
ALLETE Inc		31,704		2,439	SolarEdge Technologies Inc (a)		30,000		1,314
Ameresco Inc (a)		2,029		30	Sunrun Inc (a)		7,374		98
Atlantic Power Corp (a)		11,613		29	TerraForm Power Inc		4,447		53
Avista Corp		40,447		1,693			$		4,530
Black Hills Corp		23,552		1,599	Engineering & Construction - 0.74%
Clearway Energy Inc - Class A		3,527		52	Aegion Corp (a)		3,290		60
Clearway Energy Inc - Class C		11,726		177	Argan Inc		1,472		62
El Paso Electric Co		28,001		1,470	EMCOR Group Inc		3,985		260
IDACORP Inc		12,286		1,198	Exponent Inc		5,940		297
MGE Energy Inc		9,997		643	Granite Construction Inc		657		28
NorthWestern Corp		25,944		1,658	Great Lakes Dredge & Dock Corp (a)		5,693		40
Ormat Technologies Inc		3,038		175	IES Holdings Inc (a)		1,028		17
Otter Tail Corp		11,374		551	Infrastructure and Energy Alternatives Inc (a)		1,866		15
PNM Resources Inc		34,667		1,476	KBR Inc		101,953		1,754
Portland General Electric Co		58,794		2,841	MasTec Inc (a)		24,500		1,087
Spark Energy Inc		130,790		1,086	Mistras Group Inc (a)		785		12
Unitil Corp		28,945		1,519	MYR Group Inc (a)		39,707		1,210
		$		18,636	Orion Group Holdings Inc (a)		2,661		11
Electrical Components & Equipment - 1.19%					Primoris Services Corp		57,142		1,140
Belden Inc		35,599		1,909	Sterling Construction Co Inc (a)		14,510		192
Encore Wire Corp		11,419		615	Tutor Perini Corp (a)		85,643		1,474
Energizer Holdings Inc		23,500		1,114	VSE Corp		921		30
EnerSys		10,234		872			$		7,689
Graham Corp		37,818		847	Entertainment - 0.12%
Insteel Industries Inc		4,802		106	AMC Entertainment Holdings Inc		11,528		169
Littelfuse Inc		39,283		6,903	Eros International PLC (a)		2,076		20
Powell Industries Inc		965		27	International Speedway Corp		3,353		146
Vicor Corp (a)		119		5	Marriott Vacations Worldwide Corp		505		45
		$		12,398	Monarch Casino & Resort Inc (a)		1,626		70
Electronics - 3.15%					National CineMedia Inc		45,942		318
Advanced Energy Industries Inc (a)		27,409		1,406	Penn National Gaming Inc (a)		9,352		226
Applied Optoelectronics Inc (a)		612		11	RCI Hospitality Holdings Inc		468		10
AVX Corp		95,250		1,691	Reading International Inc (a)		12,642		200
Bel Fuse Inc		1,080		25	Speedway Motorsports Inc		2,441		39
Benchmark Electronics Inc		61,678		1,568			$		1,243
Brady Corp		195,009		8,719	Environmental Control - 0.32%
Comtech Telecommunications Corp		28,409		709	Advanced Disposal Services Inc (a)		322		8
Control4 Corp (a)		5,164		103	Casella Waste Systems Inc (a)		97,764		2,945
Electro Scientific Industries Inc (a)		4,282		128	CECO Environmental Corp (a)		3,247		22
FARO Technologies Inc (a)		2,273		96	Charah Solutions Inc (a)		885		6
Fitbit Inc (a)		12,729		78	Heritage-Crystal Clean Inc (a)		12,073		309
II-VI Inc (a)		21,800		827	Pure Cycle Corp (a)		992		10
Jabil Inc		44,500		1,186	Tetra Tech Inc		751		42
KEMET Corp		13,576		240			$		3,342
Kimball Electronics Inc (a)		46,934		759	Food - 0.97%
Knowles Corp (a)		31,481		491	B&G Foods Inc		6,229		166
NVE Corp		2,881		275	Cal-Maine Foods Inc		6,585		278
OSI Systems Inc (a)		4,615		414	Darling Ingredients Inc (a)		12,573		267
Park Electrochemical Corp		13,065		298	Dean Foods Co		8,567		36
Plexus Corp (a)		37,032		2,079	Fresh Del Monte Produce Inc		3,608		115
Resideo Technologies Inc (a)		51,600		1,132	Hostess Brands Inc (a)		10,994		126
Sanmina Corp (a)		65,121		2,033	Ingles Markets Inc		1,360		39

See accompanying notes.

263

Schedule of Investments
SmallCap Value Fund II
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held     Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Food (continued)					Healthcare - Services (continued)
John B Sanfilippo & Son Inc		1,370	$	94	Brookdale Senior Living Inc (a)		14,456	$	118
Lancaster Colony Corp		396		63	Cellular Biomedicine Group Inc (a)		425		8
Performance Food Group Co (a)		202,775		6,927	Civitas Solutions Inc (a)		514		9
Sanderson Farms Inc		8,031		989	Community Health Systems Inc (a)		8,088		32
Seneca Foods Corp - Class A (a)		6,772		194	Magellan Health Inc (a)		26,480		1,725
Simply Good Foods Co/The (a)		4,516		89	Miragen Therapeutics Inc (a)		595		2
Smart & Final Stores Inc (a)		2,435		15	National HealthCare Corp		1,250		100
SpartanNash Co		11,192		232	Neuronetics Inc (a)		143		2
Tootsie Roll Industries Inc		1,306		45	R1 RCM Inc (a)		856		7
United Natural Foods Inc (a)		5,049		66	Surgery Partners Inc (a)		1,709		22
Village Super Market Inc		14,557		392	Syneos Health Inc (a)		5,683		290
Weis Markets Inc		955		46	Tivity Health Inc (a)		7,604		169
		$		10,179	Triple-S Management Corp (a)		2,211		45
Forest Products & Paper - 0.39%							$		2,744
Clearwater Paper Corp (a)		38,486		1,298	Holding Companies - Diversified - 0.07%
Mercer International Inc		26,400		390	Altus Midstream Co (a)		91,700		743
Neenah Inc		6,388		445	Home Builders - 1.14%
PH Glatfelter Co		4,317		55	Beazer Homes USA Inc (a)		3,260		41
Schweitzer-Mauduit International Inc		50,563		1,621	Century Communities Inc (a)		70,562		1,656
Verso Corp (a)		8,956		221	Green Brick Partners Inc (a)		47,646		403
		$		4,030	KB Home		8,968		192
Gas - 2.54%					LGI Homes Inc (a)		12,811		760
Chesapeake Utilities Corp		1,074		97	M/I Homes Inc (a)		31,798		842
New Jersey Resources Corp		15,124		734	MDC Holdings Inc		3,499		115
Northwest Natural Holding Co		20,838		1,305	Meritage Homes Corp (a)		31,222		1,408
ONE Gas Inc		15,251		1,253	Taylor Morrison Home Corp (a)		91,854		1,736
RGC Resources Inc		754		21	Thor Industries Inc		23,700		1,543
South Jersey Industries Inc		42,566		1,267	TRI Pointe Group Inc (a)		131,442		1,768
Southwest Gas Holdings Inc		134,179		10,509	William Lyon Homes (a)		32,330		428
Spire Inc		142,677		11,324	Winnebago Industries Inc		35,900		1,027
		$		26,510			$		11,919
Hand & Machine Tools - 0.58%					Home Furnishings - 0.32%
Franklin Electric Co Inc		106,017		5,066	Daktronics Inc		101,739		766
Kennametal Inc		18,743		704	Ethan Allen Interiors Inc		73,995		1,405
Milacron Holdings Corp (a)		24,176		335	Flexsteel Industries Inc		15,489		387
		$		6,105	Hooker Furniture Corp		26,041		749
Healthcare - Products - 3.00%					Universal Electronics Inc (a)		1,395		39
AngioDynamics Inc (a)		3,797		80			$		3,346
Avanos Medical Inc (a)		13,776		628	Housewares - 0.07%
Axonics Modulation Technologies Inc (a)		211		3	Lifetime Brands Inc		1,351		13
CareDx Inc (a)		256		7	Tupperware Brands Corp		27,152		741
Cerus Corp (a)		1,167		7			$		754
CONMED Corp		12,929		910	Insurance - 5.63%
CryoLife Inc (a)		1,286		36	Ambac Financial Group Inc (a)		43,394		821
FONAR Corp (a)		1,144		25	American Equity Investment Life Holding Co		45,528		1,425
Haemonetics Corp (a)		2,350		232	AMERISAFE Inc		4,828		287
Hanger Inc (a)		74,400		1,561	Argo Group International Holdings Ltd		10,882		726
Integer Holdings Corp (a)		4,441		360	Brown & Brown Inc		322,150		8,750
Integra LifeSciences Holdings Corp (a)		147,125		6,968	CNO Financial Group Inc		138,011		2,468
Invacare Corp		3,391		17	Crawford & Co		1,539		15
Lantheus Holdings Inc (a)		200,146		3,366	Donegal Group Inc		3,379		44
LivaNova PLC (a)		64,553		5,959	eHealth Inc (a)		1,388		85
Luminex Corp		13,688		382	Employers Holdings Inc		32,343		1,370
Meridian Bioscience Inc		163,132		2,674	Enstar Group Ltd (a)		9,691		1,725
NanoString Technologies Inc (a)		279		6	Essent Group Ltd (a)		33,767		1,342
Natus Medical Inc (a)		139,825		4,718	FBL Financial Group Inc		9,618		675
NuVasive Inc (a)		55,400		2,778	FedNat Holding Co		10,737		194
OPKO Health Inc (a)		31,392		115	FGL Holdings (a)		203,334		1,608
OraSure Technologies Inc (a)		7,685		99	Genworth Financial Inc (a)		180,202		872
Orthofix Medical Inc (a)		3,347		181	Global Indemnity Ltd		21,824		718
Patterson Cos Inc		8,198		183	Hallmark Financial Services Inc (a)		11,532		112
Rockwell Medical Inc (a)		960		3	HCI Group Inc		1,829		87
SeaSpine Holdings Corp (a)		1,515		23	Heritage Insurance Holdings Inc		1,880		27
Utah Medical Products Inc		63		6	Horace Mann Educators Corp		40,921		1,705
		$		31,327	Independence Holding Co		520		19
Healthcare - Services - 0.26%					Investors Title Co		134		23
AAC Holdings Inc (a)		1,067		3	James River Group Holdings Ltd		2,159		83
Addus HomeCare Corp (a)		3,260		196	Kemper Corp		11,380		856
American Renal Associates Holdings Inc (a)		1,338		16	MBIA Inc (a)		164,771		1,583

See accompanying notes.

264

Schedule of Investments SmallCap Value Fund II

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held   Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Insurance (continued)					Lodging (continued)
MGIC Investment Corp (a)		763,507	$	9,528	Wyndham Destinations Inc		37,800	$	1,593
National General Holdings Corp		3,708		89			$		3,008
National Western Life Group Inc		6,850		2,078	Machinery - Construction & Mining - 0.23%
Navigators Group Inc/The		3,952		276	Astec Industries Inc		11,061		410
NI Holdings Inc (a)		1,244		19	Hyster-Yale Materials Handling Inc		17,150		1,193
NMI Holdings Inc (a)		22,989		506	Terex Corp		25,100		771
ProAssurance Corp		71,579		3,054			$		2,374
Protective Insurance Corp		32,368		596	Machinery - Diversified - 1.65%
Radian Group Inc		108,458		2,087	Alamo Group Inc		4,785		412
RLI Corp		1,226		80	Albany International Corp		79,750		5,476
Safety Insurance Group Inc		1,844		152	Applied Industrial Technologies Inc		5,540		327
Selective Insurance Group Inc		128,364		7,820	Briggs & Stratton Corp		4,069		52
State Auto Financial Corp		1,734		59	Cactus Inc (a)		24,200		794
Stewart Information Services Corp		36,428		1,620	Chart Industries Inc (a)		1,329		99
Third Point Reinsurance Ltd (a)		156,799		1,648	Columbus McKinnon Corp/NY		3,825		139
Tiptree Inc		3,306		20	CSW Industrials Inc (a)		5,200		269
United Fire Group Inc		8,913		464	DXP Enterprises Inc/TX (a)		3,967		130
United Insurance Holdings Corp		850		14	Gencor Industries Inc (a)		5,372		75
White Mountains Insurance Group Ltd		1,223		1,093	Gorman-Rupp Co/The		2,092		72
		$		58,823	GrafTech International Ltd		422,325		5,579
Internet - 0.35%					Hurco Cos Inc		3,657		141
1-800-Flowers.com Inc (a)		2,130		34	Ichor Holdings Ltd (a)		81,430		1,675
Anaplan Inc (a)		313		10	Manitex International Inc (a)		728		5
Cars.com Inc (a)		5,279		144	Manitowoc Co Inc/The (a)		3,441		52
ChannelAdvisor Corp (a)		273		3	Mueller Water Products Inc - Class A		165,533		1,636
Leaf Group Ltd (a)		2,700		21	SPX Corp (a)		605		18
Liberty Expedia Holdings Inc (a)		3,904		160	SPX FLOW Inc (a)		7,326		240
Meet Group Inc/The (a)		6,957		40	Twin Disc Inc (a)		1,807		32
New Media Investment Group Inc		68,328		934			$		17,223
NIC Inc		80,135		1,314	Media - 2.22%
Perficient Inc (a)		20,308		518	Beasley Broadcast Group Inc		1,141		5
QuinStreet Inc (a)		5,190		99	Entercom Communications Corp		15,912		117
Shutterfly Inc (a)		8,400		386	Entravision Communications Corp		414,060		1,632
TechTarget Inc (a)		620		9	EW Scripps Co/The		3,374		63
		$		3,672	Gannett Co Inc		27,965		310
Investment Companies - 0.39%					Gray Television Inc (a)		68,539		1,145
B. Riley Financial Inc		2,028		31	Hemisphere Media Group Inc (a)		1,160		15
BlackRock TCP Capital Corp		146,450		2,103	Houghton Mifflin Harcourt Co (a)		7,079		74
BrightSphere Investment Group PLC		152,903		1,891	Liberty Latin America Ltd - Class A (a)		4,399		77
		$		4,025	Liberty Latin America Ltd - Class C (a)		9,125		159
Iron & Steel - 0.27%					Media General Inc - Rights (a),(b),(c)		15,053		1
AK Steel Holding Corp (a)		23,756		70	Meredith Corp		16,427		892
Allegheny Technologies Inc (a)		9,577		262	MSG Networks Inc (a)		79,442		1,780
Carpenter Technology Corp		3,560		168	New York Times Co/The		1,874		48
Cleveland-Cliffs Inc		149,932		1,606	Nexstar Media Group Inc		102,825		8,583
Commercial Metals Co		23,967		418	Saga Communications Inc		954		32
Schnitzer Steel Industries Inc		9,327		226	Scholastic Corp		6,468		269
Shiloh Industries Inc (a)		3,667		22	Sinclair Broadcast Group Inc		15,941		491
Universal Stainless & Alloy Products Inc (a)		970		18	TEGNA Inc		641,970		7,537
		$		2,790	WideOpenWest Inc (a)		2,914		22
Leisure Products & Services - 0.32%							$		23,252
Acushnet Holdings Corp		2,569		59	Metal Fabrication & Hardware - 0.68%
Callaway Golf Co		13,207		216	AZZ Inc		36,218		1,620
Camping World Holdings Inc		79,500		1,127	CIRCOR International Inc (a)		100		3
Clarus Corp		2,178		24	Eastern Co/The		1,799		49
Escalade Inc		1,374		15	Global Brass & Copper Holdings Inc		57,700		1,746
Johnson Outdoors Inc		12,492		782	Lawson Products Inc/DE (a)		607		18
Nautilus Inc (a)		131,748		990	LB Foster Co (a)		3,709		66
Town Sports International Holdings Inc (a)		1,778		11	Northwest Pipe Co (a)		1,058		24
Vista Outdoor Inc (a)		15,626		156	Olympic Steel Inc		5,871		113
		$		3,380	Park-Ohio Holdings Corp		1,001		32
Lodging - 0.29%					Rexnord Corp (a)		7,112		186
BBX Capital Corp		6,945		43	Timken Co/The		17,747		756
Belmond Ltd (a)		6,042		150	TimkenSteel Corp (a)		3,876		49
Boyd Gaming Corp		624		17	TriMas Corp (a)		10,717		311
Century Casinos Inc (a)		5,892		45	Valmont Industries Inc		6,255		807
Hilton Grand Vacations Inc (a)		28,207		856	Worthington Industries Inc		35,348		1,334
Marcus Corp/The		3,698		165			$		7,114
St Joe Co/The (a)		8,953		139

See accompanying notes.

265

Schedule of Investments SmallCap Value Fund II

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Mining - 0.32%					Oil & Gas (continued)
Coeur Mining Inc (a)		11,827	$	61	Panhandle Oil and Gas Inc		5,930	$	95
Compass Minerals International Inc		24,369		1,274	Par Pacific Holdings Inc (a)		71,666		1,165
Gold Resource Corp		1,868		8	Patterson-UTI Energy Inc		57,400		696
Hecla Mining Co		31,265		84	PDC Energy Inc (a)		8,045		262
Kaiser Aluminum Corp		14,639		1,470	Penn Virginia Corp (a)		14,300		750
Livent Corp (a)		1,402		18	QEP Resources Inc (a)		83,688		692
Materion Corp		7,469		350	Quintana Energy Services Inc (a)		1,362		7
Tahoe Resources Inc (a)		11,857		45	Resolute Energy Corp (a)		2,073		68
United States Lime & Minerals Inc		266		18	Ring Energy Inc (a)		1,199		7
		$		3,328	Rowan Cos PLC (a)		9,723		119
Miscellaneous Manufacturers - 1.37%					SandRidge Energy Inc (a)		9,304		77
Actuant Corp		2,310		53	SilverBow Resources Inc (a)		803		19
Ambarella Inc (a)		1,336		51	SM Energy Co		36,911		724
American Outdoor Brands Corp (a)		14,714		178	Southwestern Energy Co (a)		63,000		275
EnPro Industries Inc		24,746		1,634	SRC Energy Inc (a)		8,890		44
ESCO Technologies Inc		2,790		182	Star Group LP		43,002		393
Fabrinet (a)		115,685		6,575	Talos Energy Inc (a)		28,511		545
Federal Signal Corp		9,372		206	Transocean Ltd (a)		4,741		41
FreightCar America Inc (a)		3,756		27	Trecora Resources (a)		2,337		20
GP Strategies Corp (a)		76,054		1,144	Ultra Petroleum Corp (a)		33,127		24
Haynes International Inc		1,282		42	Unit Corp (a)		107,654		1,719
Hillenbrand Inc		92,700		3,930	W&T Offshore Inc (a)		9,270		47
Lydall Inc (a)		1,427		38	Whiting Petroleum Corp (a)		51,578		1,477
NL Industries Inc (a)		1,394		5	WildHorse Resource Development Corp (a)		384		6
Standex International Corp		215		16			$		31,283
Synalloy Corp		1,110		17	Oil & Gas Services - 2.52%
Tredegar Corp		6,822		112	Apergy Corp (a)		44,600		1,499
Trinseo SA		1,696		83	Archrock Inc		63,109		596
		$		14,293	Basic Energy Services Inc (a)		2,377		11
Office & Business Equipment - 0.01%					C&J Energy Services Inc (a)		101,176		1,625
Pitney Bowes Inc		11,916		86	Dawson Geophysical Co (a)		3,132		12
Office Furnishings - 0.36%					Dril-Quip Inc (a)		32,175		1,205
CompX International Inc		445		6	Era Group Inc (a)		4,363		41
Herman Miller Inc		34,609		1,184	Exterran Corp (a)		3,227		56
Interface Inc		67,230		1,103	Flotek Industries Inc (a)		13,730		35
Kimball International Inc		3,714		53	Forum Energy Technologies Inc (a)		8,124		40
Knoll Inc		45,871		925	Frank's International NV (a)		258,537		1,471
Steelcase Inc		32,185		532	FTS International Inc (a)		70,635		576
		$		3,803	Helix Energy Solutions Group Inc (a)		17,088		117
Oil & Gas - 2.99%					Hi-Crush Partners LP		84,700		368
Abraxas Petroleum Corp (a)		3,051		4	Independence Contract Drilling Inc (a)		3,314		11
Adams Resources & Energy Inc		287		11	Keane Group Inc (a)		165,658		1,670
Approach Resources Inc (a)		7,296		7	KLX Energy Services Holdings Inc (a)		2,085		54
Berry Petroleum Corp		140,503		1,657	Liberty Oilfield Services Inc		76,100		1,157
Bonanza Creek Energy Inc (a)		64,254		1,481	Matrix Service Co (a)		2,677		57
California Resources Corp (a)		3,450		69	McDermott International Inc (a)		20,033		177
Callon Petroleum Co (a)		445,131		3,622	MRC Global Inc (a)		2,963		46
Contango Oil & Gas Co (a)		179,603		679	Natural Gas Services Group Inc (a)		3,746		62
CVR Energy Inc		682		27	NCS Multistage Holdings Inc (a)		1,394		8
Delek US Holdings Inc		36,676		1,192	Newpark Resources Inc (a)		428,135		3,557
Denbury Resources Inc (a)		52,722		107	Nine Energy Service Inc (a)		16,394		393
Diamond Offshore Drilling Inc (a)		4,818		53	NOW Inc (a)		8,269		112
Earthstone Energy Inc (a)		260,050		1,568	Nuverra Environmental Solutions Inc (a)		261		4
Eclipse Resources Corp (a)		8,090		9	Oceaneering International Inc (a)		53,995		847
EXCO Resources Inc (a)		1		—	Oil States International Inc (a)		146,080		2,515
Goodrich Petroleum Corp (a)		494		7	PHI Inc (a)		12,720		42
Gulfport Energy Corp (a)		109,336		918	Pioneer Energy Services Corp (a)		8,525		13
Halcon Resources Corp (a)		9,250		15	ProPetro Holding Corp (a)		184,425		3,013
HighPoint Resources Corp (a)		192,500		539	RPC Inc		64,900		700
Isramco Inc (a)		85		9	Select Energy Services Inc (a)		139,337		1,185
Kosmos Energy Ltd (a)	1,118,296			5,737	Seventy Seven Energy Inc (a),(b),(c)		16,216		—
Laredo Petroleum Inc (a)		223,503		850	Smart Sand Inc (a)		376,185		956
Mammoth Energy Services Inc		49,800		1,102	Solaris Oilfield Infrastructure Inc		74,700		1,124
Matador Resources Co (a)		771		15	Superior Energy Services Inc (a)		15,333		60
Midstates Petroleum Co Inc (a)		28,191		273	TETRA Technologies Inc (a)		13,329		28
Murphy USA Inc (a)		13,592		1,000	Thermon Group Holdings Inc (a)		19,451		449
Noble Corp PLC (a)		18,597		61	US Silica Holdings Inc		2,339		32
Northern Oil and Gas Inc (a)		308,044		780	US Well Services Inc (a)		48,700		390
Oasis Petroleum Inc (a)		36,347		219			$		26,314

See accompanying notes.

266

Schedule of Investments
SmallCap Value Fund II
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held     Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Packaging & Containers - 0.56%					Real Estate (continued)
Graphic Packaging Holding Co		380,050	$	4,587	Safety Income & Growth Inc		1,048	$	18
Greif Inc - Class A		27,648		1,078	Transcontinental Realty Investors Inc (a)		354		12
Greif Inc - Class B		599		27	Whitestone REIT		4,004		57
Multi-Color Corp		1,344		63			$		1,856
UFP Technologies Inc (a)		4,004		132	REITs - 5.92%
		$		5,887	Acadia Realty Trust		6,131		176
Pharmaceuticals - 0.88%					AG Mortgage Investment Trust Inc		11,557		208
Achaogen Inc (a)		506		1	Agree Realty Corp		3,841		254
Aclaris Therapeutics Inc (a)		630		4	Alexander & Baldwin Inc (a)		8,338		192
Adamas Pharmaceuticals Inc (a)		1,068		10	American Assets Trust Inc		27,378		1,175
Akebia Therapeutics Inc (a)		947		5	Anworth Mortgage Asset Corp		10,350		46
Akorn Inc (a)		7,616		29	Apollo Commercial Real Estate Finance Inc		14,019		255
Amphastar Pharmaceuticals Inc (a)		2,360		54	Arbor Realty Trust Inc		9,240		111
Anika Therapeutics Inc (a)		36,301		1,379	Ares Commercial Real Estate Corp		89,336		1,286
Aquestive Therapeutics Inc (a)		289		2	Armada Hoffler Properties Inc		3,690		55
Assertio Therapeutics Inc (a)		1,397		6	ARMOUR Residential REIT Inc		20,212		425
Athersys Inc (a)		779		1	Ashford Hospitality Trust Inc		8,558		42
Bellicum Pharmaceuticals Inc (a)		1,739		6	Blackstone Mortgage Trust Inc		11,915		411
BioScrip Inc (a)		10,719		39	Bluerock Residential Growth REIT Inc		2,446		25
Catalyst Biosciences Inc (a)		1,306		11	Braemar Hotels & Resorts Inc		12,588		140
Chimerix Inc (a)		18,692		44	Brandywine Realty Trust		135,750		2,043
Concert Pharmaceuticals Inc (a)		10,242		145	BRT Apartments Corp		1,285		17
Corium International Inc (a),(b)		454		—	Capstead Mortgage Corp		9,318		69
Corvus Pharmaceuticals Inc (a)		183		1	CareTrust REIT Inc		16,381		360
Cytokinetics Inc (a)		557		4	CatchMark Timber Trust Inc		27,736		255
Diplomat Pharmacy Inc (a)		963		14	CBL & Associates Properties Inc		16,662		41
Endo International PLC (a)		22,207		216	Cedar Realty Trust Inc		9,151		32
Immune Design Corp (a)		4,049		6	Chatham Lodging Trust		32,865		664
Intra-Cellular Therapies Inc (a)		4,218		51	Cherry Hill Mortgage Investment Corp		1,764		33
Lannett Co Inc (a)		3,013		22	Chesapeake Lodging Trust		19,215		547
Mallinckrodt PLC (a)		8,239		180	City Office REIT Inc		30,705		355
Melinta Therapeutics Inc (a)		3,970		3	Colony Capital Inc		276,814		1,680
Minerva Neurosciences Inc (a)		636		4	Colony Credit Real Estate Inc		97,442		1,628
Natural Grocers by Vitamin Cottage Inc (a)		4,332		59	Community Healthcare Trust Inc		1,856		61
Natural Health Trends Corp		46,463		762	CoreCivic Inc		354,986		7,054
Nature's Sunshine Products Inc (a)		906		7	CorEnergy Infrastructure Trust Inc		1,348		48
Owens & Minor Inc		5,794		44	CorePoint Lodging Inc		4,259		52
Phibro Animal Health Corp		3,437		107	Cousins Properties Inc		40,294		356
Portola Pharmaceuticals Inc (a)		453		12	DiamondRock Hospitality Co		76,415		777
PRA Health Sciences Inc (a)		39,575		4,194	Dynex Capital Inc		27,003		163
Prestige Consumer Healthcare Inc (a)		5,218		146	Easterly Government Properties Inc		3,416		61
Principia Biopharma Inc (a)		93		3	Essential Properties Realty Trust Inc		3,392		54
Proteostasis Therapeutics Inc (a)		613		2	Exantas Capital Corp		148,984		1,575
Ra Pharmaceuticals Inc (a)		1,397		29	First Industrial Realty Trust Inc		40,017		1,309
scPharmaceuticals Inc (a)		813		3	Four Corners Property Trust Inc		3,604		102
Spero Therapeutics Inc (a)		875		9	Franklin Street Properties Corp		21,837		162
Taro Pharmaceutical Industries Ltd		16,100		1,532	GEO Group Inc/The		78,933		1,779
Tetraphase Pharmaceuticals Inc (a)		5,800		7	Getty Realty Corp		13,379		429
Zogenix Inc (a)		803		35	Gladstone Commercial Corp		7,496		150
		$		9,188	Gladstone Land Corp		1,555		19
Pipelines - 0.18%					Global Medical REIT Inc		2,340		22
Noble Midstream Partners LP		22,500		725	Global Net Lease Inc		5,493		107
Oasis Midstream Partners LP		38,600		731	Great Ajax Corp		33,655		435
PBF Logistics LP		17,184		377	Healthcare Realty Trust Inc		9,460		305
SemGroup Corp		6,020		96	Hersha Hospitality Trust		3,451		64
		$		1,929	Independence Realty Trust Inc		6,657		70
Private Equity - 0.11%					Industrial Logistics Properties Trust		9,439		202
Kennedy-Wilson Holdings Inc		4,564		91	InfraREIT Inc		15,019		317
Victory Capital Holdings Inc (a)		98,039		1,069	Innovative Industrial Properties Inc		962		60
		$		1,160	Invesco Mortgage Capital Inc		29,376		473
Real Estate - 0.18%					Investors Real Estate Trust		4,994		294
American Realty Investors Inc (a)		371		5	iStar Inc		7,075		68
Consolidated-Tomoka Land Co		369		23	Jernigan Capital Inc		2,030		44
Cushman & Wakefield PLC (a)		984		17	Kite Realty Group Trust		26,904		447
Farmland Partners Inc		3,389		19	KKR Real Estate Finance Trust Inc		6,647		137
Five Point Holdings LLC (a)		96,500		740	Ladder Capital Corp		11,223		194
Forestar Group Inc (a)		1,335		21	Lexington Realty Trust		25,006		240
Griffin Industrial Realty Inc		115		4	LTC Properties Inc		14,685		697
RE/MAX Holdings Inc		22,524		940	Mack-Cali Realty Corp		14,454		298

See accompanying notes.

267

Schedule of Investments
SmallCap Value Fund II
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held    Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
REITs (continued)					Retail (continued)
MedEquities Realty Trust Inc		3,191	$	37	Children's Place Inc/The		8,600	$	832
Monmouth Real Estate Investment Corp		59,033		812	Chuy's Holdings Inc (a)		516		12
National Health Investors Inc		8,044		670	Citi Trends Inc		8,930		182
National Storage Affiliates Trust		177,254		5,158	Conn's Inc (a)		2,431		51
New Senior Investment Group Inc		8,198		44	Container Store Group Inc/The (a)		2,008		14
New York Mortgage Trust Inc		20,503		129	Del Taco Restaurants Inc (a)		3,257		34
NexPoint Residential Trust Inc		6,844		256	Denny's Corp (a)		1,179		21
NorthStar Realty Europe Corp		4,669		79	Dillard's Inc		13,023		870
Office Properties Income Trust		4,722		152	Dine Brands Global Inc		619		48
One Liberty Properties Inc		1,695		46	DSW Inc		39,389		1,074
Orchid Island Capital Inc		5,299		37	Dunkin' Brands Group Inc		68,075		4,656
Owens Realty Mortgage Inc		17,969		390	El Pollo Loco Holdings Inc (a)		2,129		35
Pebblebrook Hotel Trust		29,172		935	Express Inc (a)		15,231		80
Pennsylvania Real Estate Investment Trust		3,807		28	EZCORP Inc (a)		4,972		46
PennyMac Mortgage Investment Trust		104,664		2,119	Fiesta Restaurant Group Inc (a)		741		11
Physicians Realty Trust		13,907		252	FirstCash Inc		70,876		5,842
Piedmont Office Realty Trust Inc		55,120		1,067	Foundation Building Materials Inc (a)		1,599		15
PotlatchDeltic Corp		27,113		1,000	GameStop Corp		31,232		354
Preferred Apartment Communities Inc		3,917		62	Genesco Inc (a)		2,468		111
PS Business Parks Inc		2,060		299	GMS Inc (a)		379		7
QTS Realty Trust Inc		2,034		86	GNC Holdings Inc (a)		8,252		25
Ready Capital Corp		52,253		818	Group 1 Automotive Inc		28,161		1,719
Redwood Trust Inc		10,194		164	Guess? Inc		13,843		270
Retail Opportunity Investments Corp		13,044		229	Habit Restaurants Inc/The (a)		2,137		22
Rexford Industrial Realty Inc		10,119		340	Haverty Furniture Cos Inc		30,357		618
RLJ Lodging Trust		76,143		1,413	Hibbett Sports Inc (a)		74,722		1,222
RPT Realty		17,546		229	J Alexander's Holdings Inc (a)		1,687		15
Sabra Health Care REIT Inc		32,251		662	J. Jill Inc (a)		2,225		13
Saul Centers Inc		192		10	Jack in the Box Inc		7,436		602
Seritage Growth Properties		40,941		1,646	Kirkland's Inc (a)		1,379		14
Spirit MTA REIT		4,339		34	La-Z-Boy Inc		20,682		613
STAG Industrial Inc		7,468		206	Lithia Motors Inc		18,449		1,641
Summit Hotel Properties Inc		41,391		463	MarineMax Inc (a)		1,059		19
Sunstone Hotel Investors Inc		52,749		754	Movado Group Inc		44,502		1,422
Terreno Realty Corp		13,556		547	Office Depot Inc		574,687		1,695
Tier REIT Inc		7,232		170	Papa John's International Inc		918		39
Two Harbors Investment Corp		517,100		7,544	Party City Holdco Inc (a)		5,407		60
UMH Properties Inc		620		9	PC Connection Inc		48,349		1,602
Universal Health Realty Income Trust		129		9	Penske Automotive Group Inc		16,200		759
Urban Edge Properties		24,809		507	PetIQ Inc (a)		177		5
Urstadt Biddle Properties Inc		4,560		97	PetMed Express Inc		15,900		377
Washington Prime Group Inc		51,151		291	Red Robin Gourmet Burgers Inc (a)		1,349		43
Washington Real Estate Investment Trust		8,326		211	Regis Corp (a)		3,442		64
Western Asset Mortgage Capital Corp		4,961		47	Rite Aid Corp (a)		79,454		64
Xenia Hotels & Resorts Inc		36,878		692	RTW RetailWinds Inc (a)		2,779		9
		$		61,900	Rush Enterprises Inc - Class A		43,217		1,653
Retail - 4.08%					Rush Enterprises Inc - Class B		335		13
Abercrombie & Fitch Co		26,806		581	Ruth's Hospitality Group Inc		4,190		97
American Eagle Outfitters Inc		35,824		757	Sally Beauty Holdings Inc (a)		10,080		174
America's Car-Mart Inc/TX (a)		414		29	Shoe Carnival Inc		1,139		42
Asbury Automotive Group Inc (a)		15,873		1,121	Signet Jewelers Ltd		16,794		410
Ascena Retail Group Inc (a)		17,965		44	Sonic Automotive Inc		95,392		1,459
AutoNation Inc (a)		29,800		1,155	Sportsman's Warehouse Holdings Inc (a)		71,910		370
Barnes & Noble Education Inc (a)		4,277		24	Suburban Propane Partners LP		66,137		1,534
Barnes & Noble Inc		6,295		38	Tile Shop Holdings Inc		34,880		265
Bassett Furniture Industries Inc		5,772		110	Tilly's Inc		18,714		226
Beacon Roofing Supply Inc (a)		1,342		49	Vera Bradley Inc (a)		39,805		356
Bed Bath & Beyond Inc		106,378		1,605	Wingstop Inc		1,659		109
Big Lots Inc		2,348		74	World Fuel Services Corp		42,053		1,046
Biglari Holdings Inc (a)		13		8	Zumiez Inc (a)		25,134		638
BJ's Wholesale Club Holdings Inc (a)		3,756		99			$		42,639
BMC Stock Holdings Inc (a)		7,453		128	Savings & Loans - 2.83%
Brinker International Inc		1,466		59	BankFinancial Corp		6,980		105
Buckle Inc/The		23,258		404	Beneficial Bancorp Inc		23,786		371
Caleres Inc		5,042		150	Berkshire Hills Bancorp Inc		25,849		704
Cannae Holdings Inc (a)		5,260		102	Brookline Bancorp Inc		91,530		1,361
Carrols Restaurant Group Inc (a)		944		8	BSB Bancorp Inc/MA (a)		711		23
Cato Corp/The		17,500		260	Capitol Federal Financial Inc		126,785		1,632
Chico's FAS Inc		36,949		215	Community Bankers Trust Corp (a)		2,555		19

See accompanying notes.

268

Schedule of Investments SmallCap Value Fund II

January 31, 2019 (unaudited)

COMMON STOCKS (continued)	Shares Held     Value (000’s)				COMMON STOCKS (continued)	Shares Held Value (000’s)
Savings & Loans (continued)					Software (continued)
Dime Community Bancshares Inc		91,856	$	1,812	Cision Ltd (a)	300,325	$	3,724
Entegra Financial Corp (a)		720		17	Computer Programs & Systems Inc	599		16
ESSA Bancorp Inc		1,148		17	CSG Systems International Inc	38,493		1,392
First Defiance Financial Corp		3,209		91	Daily Journal Corp (a)	119		26
First Financial Northwest Inc		947		14	Domo Inc (a)	153		4
First Savings Financial Group Inc		294		15	Donnelley Financial Solutions Inc (a)	1,952		29
Flushing Financial Corp		58,004		1,286	Ebix Inc	21,300		1,217
FS Bancorp Inc		8,100		394	eGain Corp (a)	406		3
Greene County Bancorp Inc		150		5	Evolent Health Inc (a)	5,311		94
Hingham Institution for Savings		91		17	InnerWorkings Inc (a)	242,542		1,114
Home Bancorp Inc		826		29	ManTech International Corp/VA	8,442		476
HomeTrust Bancshares Inc		16,601		448	MicroStrategy Inc (a)	3,305		419
Investors Bancorp Inc		169,839		2,062	Monotype Imaging Holdings Inc	50,688		841
Malvern Bancorp Inc (a)		646		13	NextGen Healthcare Inc (a)	11,343		201
Meridian Bancorp Inc		97,945		1,550	PDF Solutions Inc (a)	2,677		28
MutualFirst Financial Inc		1,274		37	Progress Software Corp	15,253		553
Northfield Bancorp Inc		103,417		1,480	SecureWorks Corp (a)	823		19
Northwest Bancshares Inc		11,042		195	SendGrid Inc (a)	1,930		104
OceanFirst Financial Corp		38,209		918	SVMK Inc (a)	323		4
Oritani Financial Corp		107,813		1,818	Telenav Inc (a)	1,640		7
Pacific Premier Bancorp Inc		265,684		7,904	TiVo Corp	9,343		104
Provident Financial Services Inc		18,618		460	Verint Systems Inc (a)	24,146		1,168
Prudential Bancorp Inc		1,105		20	Workiva Inc (a)	2,660		111
Riverview Bancorp Inc		2,784		21		$		12,045
SI Financial Group Inc		1,340		17	Storage & Warehousing - 0.00%
Southern Missouri Bancorp Inc		11,341		399	Mobile Mini Inc	481		18
Territorial Bancorp Inc		18,069		498	Supranational Bank - 0.00%
Timberland Bancorp Inc/WA		762		21	Banco Latinoamericano de Comercio Exterior SA	1,140		21
United Community Financial Corp/OH		5,127		49	Telecommunications - 1.71%
United Financial Bancorp Inc		50,271		744	Acacia Communications Inc (a)	7,507		327
Washington Federal Inc		73,026		2,124	ADTRAN Inc	20,234		295
Waterstone Financial Inc		36,954		581	ATN International Inc	3,812		284
WSFS Financial Corp		6,478		273	Calix Inc (a)	2,404		26
		$		29,544	Casa Systems Inc (a)	120,971		1,408
Semiconductors - 2.72%					Ciena Corp (a)	23,935		912
Alpha & Omega Semiconductor Ltd (a)		2,192		26	Cincinnati Bell Inc (a)	4,632		39
Amkor Technology Inc (a)		86,772		694	Clearfield Inc (a)	587		7
Aquantia Corp (a)		88,861		783	CommScope Holding Co Inc (a)	77,400		1,618
Axcelis Technologies Inc (a)		3,210		67	Consolidated Communications Holdings Inc	5,355		57
AXT Inc (a)		4,255		18	DASAN Zhone Solutions Inc (a)	751		10
Cabot Microelectronics Corp		5,275		538	Digi International Inc (a)	79,356		941
CEVA Inc (a)		211		6	Extreme Networks Inc (a)	115,300		872
Cirrus Logic Inc (a)		42,103		1,564	Finisar Corp (a)	8,952		204
Cohu Inc		4,822		84	Frontier Communications Corp (a)	10,120		20
Cree Inc (a)		7,781		392	Harmonic Inc (a)	8,700		46
CTS Corp		24,756		702	Infinera Corp (a)	14,784		65
Diodes Inc (a)		67,285		2,263	Intelsat SA (a)	4,291		104
FormFactor Inc (a)		5,391		81	InterDigital Inc	7,875		573
Lattice Semiconductor Corp (a)		454,525		3,545	Iridium Communications Inc (a)	7,362		143
MACOM Technology Solutions Holdings Inc (a)		3,367		61	KVH Industries Inc (a)	1,795		20
MaxLinear Inc (a)		310,670		6,095	LogMeIn Inc	43,775		4,072
Nanometrics Inc (a)		6,276		192	Maxar Technologies Inc	6,037		34
Photronics Inc (a)		149,018		1,593	NeoPhotonics Corp (a)	3,421		25
Power Integrations Inc		35,675		2,355	NETGEAR Inc (a)	41,988		1,663
Rambus Inc (a)		7,948		72	pdvWireless Inc (a)	935		38
Semtech Corp (a)		5,034		244	Plantronics Inc	10,300		400
Sigma Designs Inc (a)		11,220		2	Preformed Line Products Co	6,571		364
Silicon Laboratories Inc (a)		67,325		5,150	Quantenna Communications Inc (a)	111,127		1,660
Synaptics Inc (a)		2,336		93	Ribbon Communications Inc (a)	207,912		1,160
Ultra Clean Holdings Inc (a)		147,287		1,747	RigNet Inc (a)	1,498		20
Xperi Corp		2,947		63	Spok Holdings Inc	6,535		91
		$		28,430	ViaSat Inc (a)	4,245		266
Software - 1.15%					Viavi Solutions Inc (a)	11,744		130
ACI Worldwide Inc (a)		1,587		47	Windstream Holdings Inc (a)	5,171		16
Allscripts Healthcare Solutions Inc (a)		15,520		183		$		17,910
American Software Inc/GA		1,221		14	Textiles - 0.03%
Avaya Holdings Corp (a)		8,039		136	Culp Inc	1,295		25
Avid Technology Inc (a)		1,584		8	UniFirst Corp/MA	2,314		320
Castlight Health Inc (a)		1,100		3		$		345

See accompanying notes.

269

Schedule of Investments
SmallCap Value Fund II
January 31, 2019 (unaudited)
COMMON STOCKS (continued)	Shares Held          Value (000’s)				PREFERRED STOCKS - 0.00%		Shares Held         Value (000's)
Transportation - 1.39%					Investment Companies - 0.00%
ArcBest Corp		6,661	$	250	Steel Partners Holdings LP 6.00%, 02/07/2026		507	$	11
Ardmore Shipping Corp (a)		3,547		20	TOTAL PREFERRED STOCKS		$		11
Atlas Air Worldwide Holdings Inc (a)		1,806		96	Total Investments		$		1,045,354
Costamare Inc		5,380		27	Other Assets and Liabilities -  0.02%				261
Covenant Transportation Group Inc (a)		51,178		1,207	TOTAL NET ASSETS - 100.00%		$		1,045,615
Daseke Inc (a)		4,523		19
Dorian LPG Ltd (a)		3,215		18
Eagle Bulk Shipping Inc (a)		4,975		20	(a)	Non-income producing security
Echo Global Logistics Inc (a)		3,848		91	(b)	Fair value of these investments is determined in good faith by the Manager
Frontline Ltd/Bermuda (a)		7,841		40		under procedures established and periodically reviewed by the Board of
GasLog Ltd		4,144		74		Directors. Certain inputs used in the valuation may be unobservable; however,
Golar LNG Ltd		9,800		218		each security is evaluated individually for purposes of ASC 820 which results
Hoegh LNG Partners LP		66,000		1,165		in not all securities being identified as Level 3 of the fair value hierarchy. At
Hub Group Inc (a)		1,634		73		the end of the period, the fair value of these securities totaled $15 or 0.00% of
International Seaways Inc (a)		2,047		37		net assets.
Landstar System Inc		63,550		6,455	(c)	The value of these investments was determined using significant unobservable
Marten Transport Ltd		1,630		32		inputs.
Matson Inc		47,284		1,585	(d)	Affiliated Security. Security is either an affiliate (and registered under the
Nordic American Tankers Ltd		13,401		28		Investment Company Act of 1940) or an affiliate as defined by the Investment
Overseas Shipholding Group Inc (a)		103,020		187		Company Act of 1940 (controls 5.0% or more of the outstanding voting
PAM Transportation Services Inc (a)		129		6		shares of the security). Please see affiliated sub-schedule for transactional
Radiant Logistics Inc		4,500		22		information.
Safe Bulkers Inc (a)		6,882		11	(e)	Current yield shown is as of period end.
Schneider National Inc		36,900		784
Scorpio Bulkers Inc		5,975		27		Portfolio Summary  (unaudited)
Scorpio Tankers Inc		3,485		65	Sector				Percent
SEACOR Holdings Inc (a)		11,363		471	Financial				33.31	%
Ship Finance International Ltd		17,169		209	Industrial				14.94	%
Teekay Tankers Ltd		20,075		20	Consumer, Non-cyclical				11.71	%
Tidewater Inc (a)		2,805		60	Consumer, Cyclical				11.20	%
US Xpress Enterprises Inc (a)		152,605		1,126	Technology				6.72	%
USA Truck Inc (a)		283		5	Energy				6.38	%
Werner Enterprises Inc		3,096		102	Utilities				4.60	%
YRC Worldwide Inc (a)		2,812		18	Communications				4.43	%
		$		14,568	Investment Companies				3.67	%
Trucking & Leasing - 0.19%					Basic Materials				2.83	%
GATX Corp		2,899		219	Domestic Equity Funds				0.12	%
General Finance Corp (a)		966		9	Diversified				0.07	%
Greenbrier Cos Inc/The		41,082		1,743	Government				0.00	%
Willis Lease Finance Corp (a)		353		13	Other Assets and Liabilities				0.02	%
		$		1,984	TOTAL NET ASSETS				100.00	%
Water - 0.28%
American States Water Co		6,509		441
Artesian Resources Corp		9,961		353
California Water Service Group		27,500		1,362
Connecticut Water Service Inc		2,734		185
Consolidated Water Co Ltd		3,057		40
Middlesex Water Co		172		10
PICO Holdings Inc (a)		2,204		21
SJW Group		5,929		355
York Water Co/The		6,072		200
		$		2,967
TOTAL COMMON STOCKS		$		1,005,763
INVESTMENT COMPANIES - 3.79%	Shares Held           Value (000's)
Exchange-Traded Funds - 1.56%
iShares Russell 2000 Value ETF		137,175		16,361
Money Market Funds - 2.11%
Principal Government Money Market Fund	22,013,916			22,014
2.32%(d),(e)
Principal Exchange-Traded Funds - 0.12%
Principal U.S. Small-Cap Multi-Factor Index		39,506		1,205
ETF (d)
TOTAL INVESTMENT COMPANIES		$		39,580

See accompanying notes.

270

Schedule of Investments
SmallCap Value Fund II
January 31, 2019 (unaudited)
Affiliated Securities		October 31, 2018						Purchases		Sales		January 31, 2019
		Value						Cost		Proceeds		Value
Principal Government Money Market Fund 2.32%	$			35,811		$		84,522	$	98,319	$		22,014
Principal U.S. Small-Cap Multi-Factor Index ETF					—			1,240		—			1,205
	$			35,811		$		85,762	$	98,319	$		23,219
				Realized Gain/Loss				Realized Gain from				Change in Unrealized
		Income		on Investments				Capital Gain Distributions				Gain/Loss
Principal Government Money Market Fund 2.32%	$	145	$		— $					— $			—
Principal U.S. Small-Cap Multi-Factor Index ETF		6			—					—			(35	)
	$	151	$		— $					— $			(35	)
Amounts in thousands
Futures Contracts
Description and Expiration Date		Type		Contracts						Notional Amount		Value and Unrealized Appreciation/(Depreciation)
Russell 2000 Emini; March 2019		Long			66		$	4,951			$		208
Total											$		208
Amounts in thousands except contracts.

See accompanying notes.

271

     Schedule of Investments Tax-Exempt Bond Fund January 31, 2019 (unaudited)

		Principal					Principal
MUNICIPAL BONDS - 102.22%	Amount (000's) Value (000's)				MUNICIPAL BONDS (continued)	Amount (000’s) Value (000’s)
Alabama - 2.78%					California (continued)
Birmingham Airport Authority  (credit support					Riverside Community Properties Development
from AGM)					Inc
5.25%, 07/01/2030(a)	$	1,000	$	1,039	6.00%, 10/15/2038	$	1,150	$	1,380
Lower Alabama Gas District/The					Sacramento Area Flood Control Agency  (credit
5.00%, 09/01/2034		3,500		4,080	support from BAM)
5.00%, 09/01/2046		4,500		5,247	5.00%, 10/01/2039(a)		1,340		1,500
Selma Industrial Development Board					San Diego Unified School District/CA
6.25%, 11/01/2033		700		720	0.00%, 07/01/2032(e)		5,000		3,228
		$		11,086	Southern California Public Power Authority
Alaska - 0.38%					5.00%, 11/01/2028		2,200		2,545
Borough of Matanuska-Susitna AK  (credit					5.25%, 07/01/2028		1,000		1,079
support from AGC)					State of California
5.50%, 09/01/2023(a)		1,500		1,533	5.00%, 08/01/2028		2,000		2,474
Arizona - 2.34%					University of California
Chandler Industrial Development Authority					5.75%, 05/15/2025		1,380		1,396
2.70%, 12/01/2037(b)		1,300		1,309	West Contra Costa Unified School District
City of Phoenix Civic Improvement Corp					5.25%, 08/01/2033		1,000		1,140
5.00%, 07/01/2034		1,000		1,014			$		44,557
Navajo Nation					Colorado - 2.84%
5.50%, 12/01/2030(c)		1,240		1,368	City & County of Denver CO Airport System
Salt Verde Financial Corp					Revenue
5.00%, 12/01/2032		4,805		5,624	5.00%, 12/01/2036		3,500		4,281
		$		9,315	Denver Convention Center Hotel Authority
California - 11.19%					5.00%, 12/01/2036		1,000		1,092
Alum Rock Union Elementary School District					Dominion Water & Sanitation District
5.25%, 08/01/2043		1,000		1,115	5.25%, 12/01/2027		1,500		1,590
California Health Facilities Financing Authority					Eagle County Airport Terminal Corp
5.00%, 11/15/2046(d)		1,691		1,862	5.00%, 05/01/2033		2,000		2,216
California Municipal Finance Authority					Platte River Power Authority
4.00%, 12/31/2047		2,000		1,966	5.00%, 06/01/2026		1,135		1,147
5.00%, 05/15/2033		1,000		1,134	Regional Transportation District
5.00%, 05/15/2034		600		677	6.00%, 01/15/2041		450		458
California Pollution Control Financing Authority					6.50%, 01/15/2030		500		508
4.30%, 07/01/2040		2,000		2,092			$		11,292
California Statewide Communities Development					Connecticut - 1.71%
Authority					Mohegan Tribal Finance Authority
6.25%, 11/15/2019(c)		100		103	7.00%, 02/01/2045(c)		5,500		5,589
6.63%, 11/15/2024(c)		500		516	State of Connecticut  (credit support from ACA)
California Statewide Communities Development					6.60%, 07/01/2024(a)		1,215		1,219
Authority  (credit support from FHA INS)							$		6,808
6.63%, 08/01/2029(a)		890		912	District of Columbia - 0.90%
California Statewide Communities Development					District of Columbia
Authority  (credit support from GNMA COLL)					5.00%, 12/01/2023		1,785		1,833
4.90%, 07/20/2039(a)		500		514	5.00%, 12/01/2024		715		734
City of Los Angeles Department of Airports					6.38%, 10/01/2034		1,000		1,030
5.00%, 05/15/2028		2,000		2,408			$		3,597
5.00%, 05/15/2035		1,500		1,561	Florida - 3.49%
5.00%, 05/15/2044(d)		5,150		5,767	Canaveral Port Authority
City of Vernon CA Electric System Revenue					5.00%, 06/01/2048		1,000		1,102
5.13%, 08/01/2021		230		234	City of Lakeland FL Department of Electric
5.13%, 08/01/2021		340		345	Utilities
Golden State Tobacco Securitization Corp					5.25%, 10/01/2036		1,000		1,267
5.30%, 06/01/2037		1,000		999	Collier County Health Facilities Authority
Lancaster Redevelopment Agency Successor					5.00%, 05/01/2043		3,500		3,796
Agency					Escambia County Health Facilities
6.50%, 08/01/2029		580		594	Authority  (credit support from AMBAC)
Los Angeles Unified School District/CA					5.95%, 07/01/2020(a)		10		10
5.00%, 07/01/2029		1,000		1,013	Greater Orlando Aviation Authority
Metropolitan Water District of Southern					5.00%, 10/01/2047(d)		7,001		7,708
California							$		13,883
5.00%, 07/01/2029		1,150		1,166	Georgia - 1.21%
Oakland Unified School District/Alameda County					Atlanta Development Authority
5.00%, 08/01/2034		2,210		2,559	6.75%, 01/01/2035		2,000		1,878
Port of Los Angeles					7.00%, 01/01/2040		2,000		1,905
5.00%, 08/01/2031		1,240		1,259	City of Atlanta GA Water & Wastewater Revenue
Richmond Joint Powers Financing Authority					6.00%, 11/01/2027		1,000		1,032
6.25%, 07/01/2024		1,000		1,019			$		4,815

See accompanying notes.

272

     Schedule of Investments Tax-Exempt Bond Fund January 31, 2019 (unaudited)

		Principal					Principal
MUNICIPAL BONDS (continued)	Amount (000’s)     Value (000’s)				MUNICIPAL BONDS (continued)	Amount (000’s) Value (000’s)
Idaho - 0.55%					Kentucky (continued)
Idaho Health Facilities Authority					Kentucky State Property & Building
6.65%, 02/15/2021(b)	$	2,000	$	2,196	Commission  (credit support from AGC)
Illinois - 14.83%					5.25%, 02/01/2025(a)	$	885	$	885
Chicago O'Hare International Airport					5.25%, 02/01/2025(a)		115		115
4.00%, 01/01/2044		1,500		1,500	Paducah Electric Plant Board  (credit support
5.00%, 01/01/2052		1,500		1,603	from AGC)
5.25%, 01/01/2036		2,000		2,277	5.25%, 10/01/2035(a)		1,500		1,509
5.25%, 01/01/2037		4,000		4,536			$		5,707
City of Chicago IL					Louisiana - 2.19%
5.25%, 01/01/2029		2,000		2,119	Lafayette Public Trust Financing
6.00%, 01/01/2038		2,965		3,310	Authority  (credit support from AGM)
7.13%, 03/15/2022		300		300	5.25%, 10/01/2030(a)		1,000		1,058
7.46%, 02/15/2026		659		480	Louisiana Local Government Environmental
City of Chicago IL Wastewater Transmission					Facilities & Community Development Authority
Revenue					3.50%, 11/01/2032		3,000		2,867
5.00%, 01/01/2030		1,000		1,108	5.50%, 11/01/2039(c)		3,270		3,321
5.00%, 01/01/2032		1,000		1,101	Louisiana Public Facilities Authority
5.00%, 01/01/2033		2,000		2,196	0.00%, 07/01/2039(e)		417		—
City of Chicago IL Waterworks Revenue					0.00%, 07/01/2039(e)		659		—
5.00%, 11/01/2028		1,000		1,115	Louisiana Public Facilities Authority  (credit
County of Cook IL Sales Tax Revenue					support from FNMA)
5.25%, 11/15/2036		1,520		1,743	0.00%, 12/01/2019(a),(e)		1,500		1,476
Illinois Finance Authority							$		8,722
4.38%, 12/01/2042		1,400		1,366	Maine - 0.46%
5.38%, 08/15/2024		500		510	Finance Authority of Maine
5.75%, 08/15/2030		1,050		1,072	4.38%, 08/01/2035(b),(c)		1,800		1,813
6.00%, 03/01/2038		1,540		1,545	Maryland - 0.28%
6.25%, 11/15/2035		650		673	Maryland Economic Development Corp
6.25%, 11/15/2035		350		361	5.75%, 06/01/2035		545		574
Illinois State Toll Highway Authority					Maryland Health & Higher Educational Facilities
5.00%, 12/01/2032		5,200		5,878	Authority
5.00%, 01/01/2040(d)		2,000		2,205	6.00%, 07/01/2041		500		549
5.25%, 01/01/2030		1,000		1,029			$		1,123
Metropolitan Pier & Exposition Authority					Massachusetts - 2.09%
5.00%, 06/15/2057		700		720	Commonwealth of Massachusetts
Metropolitan Pier & Exposition Authority  (credit					5.00%, 01/01/2042		1,940		2,212
support from NATL)					Massachusetts Bay Transportation Authority
5.50%, 06/15/2029(a)		2,410		2,736	5.25%, 07/01/2028		2,000		2,516
Metropolitan Water Reclamation District of					Massachusetts Development Finance Agency
Greater Chicago					5.75%, 12/01/2042(b)		1,000		1,010
5.00%, 12/01/2028		5,000		5,814	Massachusetts Educational Financing Authority
Sales Tax Securitization Corp					4.90%, 07/01/2028		1,495		1,564
5.00%, 01/01/2048		3,000		3,225	Massachusetts State College Building
State of Illinois					Authority  (credit support from ST APPROP)
5.00%, 10/01/2033		4,000		4,213	5.50%, 05/01/2039(a)		1,000		1,010
5.50%, 07/01/2027		3,410		3,650			$		8,312
United City of Yorkville IL
5.75%, 03/01/2028		500		494	Michigan - 0.66%
Village of Gilberts IL Special Service Area No 24					City of Detroit MI Sewage Disposal System
5.38%, 03/01/2034		149		141	Revenue  (credit support from AGM)
		$		59,020	7.00%, 07/01/2027(a)		1,500		1,532
					Wayne County Airport Authority
Indiana - 1.15%					5.00%, 12/01/2045		1,000		1,109
Indiana Finance Authority							$		2,641
1.60%, 11/01/2037(b)		3,000		3,000
1.70%, 12/01/2039(b)		800		800	Minnesota - 1.51%
Town of Shoals IN					City of Minneapolis MN/St Paul Housing &
7.25%, 11/01/2043		700		769	Redevelopment Authority  (credit support from
		$		4,569	AGM)
Kansas - 0.26%					1.67%, 08/15/2025(a),(b)		4,000		4,000
Kansas Development Finance Authority					City of Rochester MN
5.50%, 11/15/2029		20		21	5.00%, 11/15/2034		1,600		2,016
5.50%, 11/15/2029		980		1,006			$		6,016
		$		1,027	Missouri - 1.74%
Kentucky - 1.43%					City of St Louis MO Airport Revenue  (credit
Kentucky Public Energy Authority					support from NATL)
4.00%, 01/01/2049(b)		3,000		3,198	5.50%, 07/01/2028(a)		1,500		1,879

See accompanying notes.

273

     Schedule of Investments Tax-Exempt Bond Fund January 31, 2019 (unaudited)

		Principal					Principal
MUNICIPAL BONDS (continued)	Amount (000’s)     Value (000’s)				MUNICIPAL BONDS (continued)	Amount (000’s)  Value (000’s)
Missouri (continued)					New York (continued)
Health & Educational Facilities Authority of the					New York Counties Tobacco Trust VI
State of Missouri					5.00%, 06/01/2031	$	215	$	234
4.25%, 12/01/2042(c)	$	3,000	$	2,956	5.00%, 06/01/2036		740		788
5.00%, 02/01/2034(f)		1,000		1,085	5.00%, 06/01/2041		400		420
Maryland Heights Industrial Development					New York Liberty Development Corp
Authority					5.00%, 11/15/2031		1,000		1,073
5.00%, 03/15/2049		1,000		988	5.00%, 09/15/2040		1,000		1,084
		$		6,908	New York Liberty Development Corp  (credit
Montana - 0.65%					support from GO OF AUTH)
Montana Facility Finance Authority					5.00%, 12/15/2041(a)		1,000		1,075
4.13%, 07/01/2038		2,650		2,596	New York State Dormitory Authority  (credit
Nebraska - 0.25%					support from AGC ST AID WITHHLDG)
Municipal Energy Agency of Nebraska  (credit					5.00%, 10/01/2023(a)		1,860		1,902
support from BHAC)					5.00%, 10/01/2023(a)		140		143
5.13%, 04/01/2029(a)		1,000		1,006	New York Transportation Development Corp
Nevada - 2.88%					5.00%, 08/01/2021		3,500		3,695
County of Clark Department of Aviation					5.00%, 01/01/2036		3,200		3,557
5.13%, 07/01/2034		1,000		1,026	5.25%, 01/01/2050		3,125		3,322
Las Vegas Convention & Visitors Authority					Niagara Area Development Corp
5.00%, 07/01/2043(d)		5,606		6,270	4.75%, 11/01/2042(c)		1,000		971
Las Vegas Redevelopment Agency					Tompkins County Development Corp
5.00%, 06/15/2040		3,850		4,168	5.00%, 07/01/2027		115		116
		$		11,464	Westchester County Local Development Corp
					5.00%, 11/01/2046		2,400		2,545
New Hampshire - 0.49%							$		44,737
New Hampshire Business Finance Authority
4.00%, 11/01/2027(c)		1,000		985	North Carolina - 1.70%
4.88%, 11/01/2042(c)		1,000		981	City of Raleigh NC Combined Enterprise System
		$		1,966	Revenue
					5.00%, 03/01/2031		1,000		1,068
New Jersey - 5.00%					North Carolina Medical Care Commission
Casino Reinvestment Development Authority					5.00%, 10/01/2047		1,000		1,039
5.25%, 11/01/2039		750		798	North Carolina Turnpike Authority
New Jersey Economic Development Authority					5.00%, 01/01/2040		4,200		4,649
4.00%, 07/01/2032		805		803			$		6,756
5.00%, 09/01/2034		1,000		1,019
5.75%, 04/01/2031		1,005		1,097	Ohio - 5.57%
5.75%, 06/01/2031		550		579	American Municipal Power Inc
New Jersey Transportation Trust Fund Authority					5.25%, 02/15/2033		2,575		2,794
5.25%, 06/15/2032		2,000		2,166	Buckeye Tobacco Settlement Financing Authority
5.25%, 06/15/2034		2,250		2,434	6.00%, 06/01/2042		2,000		1,917
South Jersey Port Corp					Buckeye Tobacco Settlement Financing
5.00%, 01/01/2042		2,500		2,655	Authority  (credit support from BUCKEYE OHIO
5.00%, 01/01/2048		3,000		3,172	TOB SETTLEMENT)
Tobacco Settlement Financing Corp/NJ					5.75%, 06/01/2034(a)		4,400		4,112
5.00%, 06/01/2046		5,000		5,169	City of Cincinnati OH
		$		19,892	5.00%, 12/01/2032		815		901
					Cleveland-Cuyahoga County Port Authority
New York - 11.24%					5.50%, 12/01/2053		1,600		1,754
Brooklyn Arena Local Development Corp					County of Hamilton OH
6.38%, 07/15/2043		1,400		1,463	5.00%, 01/01/2036		1,435		1,482
Hudson Yards Infrastructure Corp					5.00%, 01/01/2046		2,500		2,547
5.75%, 02/15/2047		1,585		1,715	Ohio Air Quality Development Authority
5.75%, 02/15/2047		915		983	3.75%, 12/01/2023(b)		2,000		1,590
Metropolitan Transportation Authority					4.25%, 01/15/2038(c)		1,000		995
5.25%, 11/15/2030		1,500		1,543	4.50%, 01/15/2048(c)		850		856
New York City Industrial Development					Ohio Higher Educational Facility Commission
Agency  (credit support from AGC)					1.60%, 01/01/2043(b)		3,200		3,200
6.13%, 01/01/2029(a)		1,000		1,003	State of Ohio
New York City Transitional Finance Authority					3.25%, 01/01/2035		20		20
Future Tax Secured Revenue							$		22,168
1.63%, 08/01/2042(b)		4,100		4,100
New York City Water & Sewer System					Oklahoma - 0.49%
1.62%, 06/15/2050(b)		3,000		3,000	Oklahoma Development Finance Authority
1.63%, 06/15/2035(b)		4,000		4,000	5.25%, 08/15/2043		1,085		1,187
1.63%, 06/15/2045(b)		4,000		4,000	Tulsa Airports Improvement Trust
4.00%, 06/15/2037		1,900		2,005	5.00%, 06/01/2035(b)		700		756
							$		1,943
					Oregon - 0.69%
					Oregon State Business Development Commission
					6.50%, 04/01/2031(c)		1,000		982

See accompanying notes.

274

     Schedule of Investments Tax-Exempt Bond Fund January 31, 2019 (unaudited)

		Principal					Principal
MUNICIPAL BONDS (continued)	Amount (000’s)     Value (000’s)				MUNICIPAL BONDS (continued)	Amount (000’s)   Value (000’s)
Oregon (continued)					Texas (continued)
State of Oregon					Texas Private Activity Bond Surface
5.00%, 05/01/2020	$	1,685	$	1,754	Transportation Corp
		$		2,736	7.00%, 12/31/2038	$	1,000	$	1,156
Pennsylvania - 2.55%							$		28,231
Blythe Township Solid Waste Authority					Utah - 2.17%
7.75%, 12/01/2037		1,000		1,060	Utah Infrastructure Agency
Commonwealth Financing Authority					5.00%, 10/15/2028		1,000		1,089
5.00%, 06/01/2032		3,000		3,419	5.00%, 10/15/2034		4,385		4,664
5.00%, 06/01/2033		2,000		2,262	5.00%, 10/15/2037		1,500		1,576
Pennsylvania Economic Development Financing					5.38%, 10/15/2040		1,200		1,295
Authority							$		8,624
6.00%, 06/01/2031		500		500	Virginia - 0.88%
Pennsylvania Turnpike Commission					County of Botetourt VA
5.00%, 12/01/2036		1,725		1,912	6.00%, 07/01/2034		1,000		1,073
5.75%, 12/01/2028		175		188	6.00%, 07/01/2044		1,000		1,067
5.75%, 12/01/2028		245		263	Roanoke Economic Development Authority
6.00%, 12/01/2034		80		86	6.63%, 12/01/2044		1,295		1,381
6.00%, 12/01/2034		355		382			$		3,521
6.00%, 12/01/2034		65		70	Washington - 0.76%
		$		10,142	FYI Properties
South Carolina - 0.65%					5.50%, 06/01/2039		1,000		1,011
South Carolina Jobs-Economic Development					Washington Health Care Facilities Authority
Authority					7.38%, 03/01/2038		1,000		1,004
5.25%, 11/15/2047		1,500		1,570	Washington Higher Education Facilities Authority
South Carolina Jobs-Economic Development					5.63%, 10/01/2040		1,000		1,025
Authority  (credit support from AGC)							$		3,040
5.38%, 02/01/2029(a)		1,000		1,000	West Virginia - 0.32%
		$		2,570	West Virginia Hospital Finance Authority
South Dakota - 0.38%					5.50%, 06/01/2034		1,250		1,265
Oglala Sioux Tribe					Wisconsin - 2.83%
5.75%, 10/01/2025(c)		1,500		1,503	City of Superior WI  (credit support from GO OF
Tennessee - 1.64%					CORP)
Metropolitan Government Nashville & Davidson					5.38%, 11/01/2021(a)		750		752
County Health & Educational Facs Bd					Public Finance Authority
5.00%, 07/01/2040		5,965		6,532	4.00%, 08/01/2035		1,580		1,485
Texas - 7.09%					5.00%, 12/01/2025(c)		3,000		3,261
Capital Area Cultural Education Facilities Finance					5.00%, 09/30/2037		500		548
Corp					5.00%, 10/01/2048(c)		1,500		1,507
6.13%, 04/01/2045(b)		1,000		1,037	5.25%, 04/01/2030		1,400		1,466
Central Texas Regional Mobility Authority					State of Wisconsin  (credit support from ST
5.00%, 01/01/2048		2,740		3,023	APPROP)
Central Texas Turnpike System					5.38%, 05/01/2025(a)		125		126
5.00%, 08/15/2031		1,285		1,401	5.38%, 05/01/2025(a)		875		883
City of Houston TX Airport System Revenue					Wisconsin Health & Educational Facilities
5.00%, 07/01/2029		2,000		2,182	Authority
Harris County Industrial Development Corp					6.38%, 02/15/2029		500		501
5.00%, 02/01/2023		400		411	6.63%, 02/15/2039		720		721
Harris County-Houston Sports Authority							$		11,250
5.00%, 11/15/2030		3,000		3,381	TOTAL MUNICIPAL BONDS		$		406,882
Metropolitan Transit Authority of Harris County					Total Investments		$		406,882
5.00%, 11/01/2033		2,435		2,816	Liability for Floating Rate Notes Issued in Conjunction with
North Texas Tollway Authority					Securities Held - (3.22)%
5.00%, 01/01/2045		1,000		1,102	Notes with an interest rate of 1.43% - 1.63% at	$	(12,823	) $	(12,823	)
Port Beaumont Navigation District					January 31, 2019 and contractual maturity of
7.25%, 02/01/2036(b),(c)		4,500		4,649	collateral from 2023-2026.(g)
Sea Breeze Public Facility Corp					Total Net Investments		$		394,059
6.50%, 01/01/2046		100		102	Other Assets and Liabilities -  1.00%				3,971
Tarrant County Cultural Education Facilities					TOTAL NET ASSETS - 100.00%		$		398,030
Finance Corp
5.00%, 11/15/2037		2,060		2,214
6.00%, 11/15/2027		2,250		2,443
Texas A&M University
5.00%, 05/15/2027		1,000		1,009
Texas Municipal Gas Acquisition & Supply Corp
I
6.25%, 12/15/2026		1,135		1,305

See accompanying notes.

275

Schedule of Investments
Tax-Exempt Bond Fund
January 31, 2019 (unaudited)

(a)	Credit support indicates investments that benefit from credit enhancement or liquidity support provided by a third party bank, institution, or government agency.
(b)	Certain variable rate securities are not based on a published reference rate and spread but 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. Rate shown is the rate in effect as of period end.
(c)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities totaled $32,356 or 8.13% of net assets.
(d)	Security or portion of underlying security related to Inverse Floaters entered into by the Fund.  See Notes to Financial Statements for additional information.
(e)	Non-income producing security
(f)	Security purchased on a when-issued basis.
(g)	Floating rate securities. The interest rate(s) shown reflect the rates in effect at January 31, 2019.

Portfolio Summary  (unaudited)
Sector	Percent
Revenue Bonds	74.41	%
Insured	8.77	%
Prerefunded	8.29	%
General Obligation Unlimited	8.13	%
Tax Allocation	1.05	%
General Obligation Limited	0.56	%
Special Tax	0.54	%
Special Assessment	0.28	%
Certificate Participation	0.19	%
Liability For Floating Rate Notes Issued	(3.22	)%
Other Assets and Liabilities	1.00	%
TOTAL NET ASSETS	100.00	%

See accompanying notes.

276

Glossary to the Schedule of Investments

January 31, 2019 (unaudited)

Currency Abbreviations ARS AUD BRL CAD CHF CLP CNH CNY COP CZK EGP EUR GBP HKD HUF IDR INR JPY KRW KZT MXN MYR NZD PEN PLN RON RUB TRY USD/$ UYU ZAR   Argentine Peso Australian Dollar Brazilian Real Canadian Dollar Swiss Franc Chilean Peso Chinese Renminbi Chinese Renminbi Colombian Peso Czech Koruna Egyptian Pound Euro British Pound Sterling Hong Kong Dollar Hungarian Forint Indonesian Rupiah Indian Rupee Japanese Yen South Korean Won Kazakhstani Tenge Mexican Peso Malaysian Ringgit New Zealand Dollar Peruvian Nuevo Sol Polish Zloty Romanian New Leu Russian Ruble Turkish Lira United States Dollar Uruguayan Peso South African Rand

See accompanying notes.

277

Security Valuation. Principal LifeTime 2010 Fund, Principal LifeTime 2015 Fund, Principal LifeTime 2020 Fund, Principal LifeTime 2025 Fund, Principal LifeTime 2030 Fund, Principal LifeTime 2035 Fund, Principal LifeTime 2040 Fund, Principal LifeTime 2045 Fund, Principal LifeTime 2050 Fund, Principal LifeTime 2055 Fund, Principal LifeTime 2060 Fund, Principal LifeTime 2065 Fund, and Principal LifeTime Strategic Income Fund (collectively, the “Principal LifeTime Funds”), Principal LifeTime Hybrid 2015 Fund, Principal LifeTime Hybrid 2020 Fund, Principal LifeTime Hybrid 2025 Fund, Principal LifeTime Hybrid 2030 Fund, Principal LifeTime Hybrid 2035 Fund, Principal LifeTime Hybrid 2040 Fund, Principal LifeTime Hybrid 2045 Fund, Principal LifeTime Hybrid 2050 Fund, Principal LifeTime Hybrid 2055 Fund, Principal LifeTime Hybrid 2060 Fund, Principal LifeTime Hybrid 2065 Fund, and Principal LifeTime Hybrid Income Fund (collectively, the “Principal LifeTime Hybrid Funds”), along with the SAM Balanced, SAM Conservative Balanced Portfolio, SAM Conservative Growth Portfolio, SAM Flexible Income Portfolio, and SAM Strategic Growth Portfolio (collectively, the “SAM Portfolios”) invest in R-6 and Institutional shares of other series of Principal Funds, Inc. which are valued at the closing net asset value per share of each respective fund on the day of valuation. In addition, the SAM Portfolios invest in Principal Exchange-Traded Funds, which are valued at fair value. The SAM Portfolios also invest in other publicly traded investment funds. Other publicly traded investment funds are valued at the respective fund’s net asset value. The shares of the other series of Principal Funds, Inc., Principal Exchange-Traded Funds and other publicly traded investment funds are referred to as the “Underlying Funds”.California Municipal Fund, Core Plus Bond Fund, Diversified International Fund, Equity Income Fund, Finisterre Unconstrained Emerging Markets Bond Fund, Global Diversified Income Fund, Global Real Estate Securities Fund, Government & High Quality Bond Fund, High Yield Fund, HighYield Fund I, Income Fund, Inflation Protection Fund, International Emerging Markets Fund, International Fund I, LargeCap Growth Fund, LargeCap Growth Fund I, LargeCap S&P 500 Index Fund, LargeCap Value Fund III, MidCap Fund, MidCap Growth Fund, MidCap Growth Fund III, MidCap S&P 400 Index Fund, MidCap Value Fund I, MidCap Value Fund III, Overseas Fund, Principal Capital Appreciation Fund, Real Estate Securities Fund, Short-Term Income Fund, SmallCap Fund, SmallCap Growth Fund I, SmallCap S&P 600 Index Fund, SmallCap Value Fund II and Tax-Exempt Bond Fund (known as the "Funds") (with the exception of Government Money Market Fund, Money Market Fund, Principal Lifetime Funds, Principal Lifetime Hybrid Funds, and the SAM Portfolios) value securities for which market quotations are readily available at fair value, which is determined using the last reported sale price. If no sales are reported, as is regularly the case for some securities traded over-the-counter, securities are valued using the last reported bid price or an evaluated bid price provided by a pricing service. Pricing services use modeling techniques that incorporate security characteristics such as current quotations by broker/dealers, coupon, maturity, quality, type of issue, trading characteristics, other yield and risk factors, and other market conditions to determine an evaluated bid price or, in the case of certain credit default swaps, a mean price provided by a pricing service. When reliable market quotations are not considered to be readily available, which may be the case, for example, with respect to restricted securities, certain debt securities, preferred stocks, and foreign securities, the investments are valued at their fair value as determined in good faith by the Manager under procedures established and periodically reviewed by the Fund’s Board of Directors.

The value of foreign securities used in computing the net asset value per share is generally determined as of the close of the foreign exchange where the security is principally traded. Events that occur after the close of the applicable foreign market or exchange but prior to the calculation of the Funds’ net asset values are reflected in the Funds’ net asset values and these securities are valued at fair value as determined in good faith by the Manager under procedures established and periodically reviewed by the Fund’s Board of Directors. Many factors, provided by independent pricing services, are reviewed in the course of making a good faith determination of a security’s fair value, including, but not limited to, price movements in ADRs, futures contracts, industry indices, general indices, and foreign currencies.

To the extent the Funds invest in foreign securities listed on foreign exchanges which trade on days on which the Funds do not determine net asset values, for example weekends and other customary national U.S. holidays, the Funds’ net asset values could be significantly affected on days when shareholders cannot purchase or redeem shares.

Certain securities issued by companies in emerging market countries may have more than one quoted valuation at any given point in time, sometimes referred to as a “local” price and a “premium” price. The premium price is often a negotiated price, which may not consistently represent a price at which a specific transaction can be effected. It is the policy of the Funds to value such securities at prices at which it is expected those shares may be sold, and the Manager or any sub-advisor is authorized to make such determinations subject to such oversight by the Fund’s Board of Directors as may occasionally be necessary.

Government Money Market Fund qualifies as a government/agency money market fund. Money Market Fund qualifies as a retail money market fund. The two funds value their securities, other than holdings of other publicly traded investment funds, at amortized cost as permitted under Rule 2a-7 of the Investment Company Act of 1940. Under the amortized cost method, a security is valued by applying a constant yield to maturity of the difference between the principal amount due at maturity and the cost of the security to the Funds.

Fair value is defined as the price that the Funds would receive upon selling a security in a timely transaction to an independent buyer in the principal or most advantageous market of the security at the measurement date. In determining fair value, the Funds may use one or more

278

of the following approaches: market, income and/or cost. A hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.

Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Funds. Unobservable inputs are inputs that reflect the Fund’s own estimates about the estimates market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

Level 1 – Quoted prices are available in active markets for identical securities as of the reporting date. The type of securities included in Level 1 includes listed equities and listed derivatives.

Level 2 – Other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.). Investments which are generally included in this category include certain foreign equities, corporate bonds, senior floating rate interests, municipal bonds, and US Government and Government Agency Obligations.

Level 3 – Significant unobservable inputs (including the Funds’ assumptions in determining the fair value of investments). Investments which may be included in this category include certain common stocks, corporate bonds, mortgage backed securities or senior floating rate interests.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the market place, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Funds in determining fair value is greatest for instruments categorized in Level 3.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Fair value is a market based measure considered from the perspective of a market participant who holds the asset rather than an entity specific measure. Therefore, even when market assumptions are not readily available, the Fund’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Funds use prices and inputs that are current as of the measurement date, when available.

Investments which are included in the Level 3 category may be valued using indicative quoted prices from brokers and dealers participating in the market for these investments. These investments are classified as Level 3 investments due to the lack of market transparency and market corroboration to support these quoted prices. Valuation models may be used as the pricing source for other investments classified as Level 3. Valuation models rely on one or more significant unobservable inputs such as prepayment rates, probability of default, or loss severity in the event of default. Significant increases in any of those inputs in isolation would result in a significantly lower fair value measurement. Benchmark pricing procedures set the base price of a security based on current market data. The base price may be a broker-dealer quote, transaction price, or internal value based on relevant market data.

The fair values of these securities are dependent on economic, political and other considerations. The values of such securities may be affected by significant changes in the economic conditions, changes in government policies, and other factors (e.g., natural disasters, accidents, conflicts, etc.). Fair value of these investments is determined in good faith by the Manager under procedures established and periodically reviewed by the Fund’s Board of Directors. The Manager has established a valuation committee (“Valuation Committee”) of senior officers and employees, with the responsibility of overseeing the pricing and valuation of all securities, including securities where market quotations are not readily available. The Valuation Committee meets at least monthly and reports directly to the Board of Directors. A pricing group (the “Pricing Group”) who reports to the Valuation Committee relies on the established pricing policies to determine fair valuation. Included in the pricing policies is an overview of the approved valuation approaches established for each asset class. The Pricing Group will consider all appropriate information available when determining fair valuation.

279

The Pricing Group relies on externally provided valuation inputs to determine the value of Level 3 securities. Security values are updated as new information becomes available. Valuation data and changes in valuation amounts are reviewed on a daily basis based on specified criteria for the security, asset class, and other factors. In addition, valuation data is periodically compared to actual transactions executed by the Funds (i.e., purchases/sales) and differences between transaction prices and prior period valuation data are investigated based on specified tolerances.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those instruments.

For example, short-term securities held in Government Money Market Fund and Money Market Fund are valued using amortized cost, as permitted under Rule 2a-7 of the Investment Company Act of 1940. Generally, amortized cost approximates the current fair value of these securities, but because the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.

The following is a summary of the inputs used as of January 31, 2019 in valuing the Funds' securities carried at value (amounts shown in thousands):

					Level 2 - Other
	Level 1 - Quoted			Significant Observable			Level 3 - Significant
Fund		Prices			Inputs		Unobservable Inputs		Totals (Level 1,2,3)
California Municipal Fund
Investment Companies	$	59		$	—		$	—	$	59
Municipal Bonds*		—			404,504			—		404,504
Total investments in securities $		59		$	404,504		$	—	$	404,563
Core Plus Bond Fund
Bonds*		—			1,904,253			15,699		1,919,952
Common Stocks
Consumer, Cyclical		—			—			174		174
Energy		916			—			—		916
Investment Companies		154,277			—			—		154,277
Preferred Stocks
Communications		1,303			—			—		1,303
Consumer, Cyclical		—			—			61		61
Consumer, Non-cyclical		—			148			—		148
Government		—			3,500			—		3,500
Senior Floating Rate Interests*		—			60,681			—		60,681
U.S. Government & Government Agency Obligations*		—			1,251,101			—		1,251,101
Total investments in securities $		156,496		$	3,219,683		$	15,934	$	3,392,113
Assets
Foreign Exchange Contracts
Foreign Currency Contracts		—			353			—		353
Interest Rate Contracts
Futures**		1,857			—			—		1,857
Liabilities
Credit Contracts
Exchange Cleared Credit Default Swaps**		—			(2,327	)		—		(2,327	)
Foreign Exchange Contracts
Foreign Currency Contracts		—			(286	)		—		(286	)
Interest Rate Contracts
Futures**		(746	)		—			—		(746	)
Diversified International Fund
Common Stocks
Basic Materials		67,213			419,777			—		486,990
Communications		47,574			595,094			—		642,668
Consumer, Cyclical		230,678			1,649,169			—		1,879,847
Consumer, Non-cyclical		123,054			1,778,716			—		1,901,770
Energy		123,077			671,533			—		794,610
Financial		506,829			2,409,699			—		2,916,528
Industrial		184,855			713,721			—		898,576
Technology		—			881,697			—		881,697
Utilities		—			214,373			—		214,373
Investment Companies		429,625			—			—		429,625
Preferred Stocks
Diversified		—			55,374			—		55,374
Total investments in securities $		1,712,905		$	9,389,153		$	—	$	11,102,058

280

				Level 2 - Other
	Level 1 - Quoted		Significant Observable			Level 3 - Significant
Fund		Prices		Inputs		Unobservable Inputs		Totals (Level 1,2,3)
Equity Income Fund
Common Stocks*	$	6,876,522	$	—		$	—	$	6,876,522
Investment Companies		106,908		—			—		106,908
Total investments in securities $		6,983,430	$	—		$	—	$	6,983,430
Finisterre Unconstrained Emerging Markets Bond Fund
Bonds*		—		33,669			—		33,669
Convertible Bonds*		—		1,318			—		1,318
U.S. Government & Government Agency Obligations*		—		2,194			—		2,194
Total investments in securities $		—	$	37,181		$	—	$	37,181
Assets
Foreign Exchange Contracts
Foreign Currency Contracts		—		165			—		165
Interest Rate Contracts
Total Return Swaps		—		36			—		36
Liabilities
Credit Contracts
Credit Default Swaps		—		(39	)		—		(39	)
Foreign Exchange Contracts
Foreign Currency Contracts		—		(232	)		—		(232	)
Interest Rate Contracts
Total Return Swaps		—		(24	)		—		(24	)
Global Diversified Income Fund
Bonds*		—		5,243,455			105,024		5,348,479
Common Stocks
Basic Materials		9,803		22,092			39,347		71,242
Communications		111,926		8,641			—		120,567
Consumer, Cyclical		31,325		35,145			8,319		74,789
Consumer, Non-cyclical		38,813		13,543			—		52,356
Diversified		—		293			—		293
Energy		160,390		25,486			193		186,069
Financial		266,741		164,742			—		431,483
Industrial		13,115		20,536			—		33,651
Technology		20,658		7,791			—		28,449
Utilities		195,009		2,080			—		197,089
Convertible Bonds*		—		2,159			—		2,159
Convertible Preferred Stocks
Financial		5,092		—			—		5,092
Credit Linked Structured Notes*		—		20,374			2,521		22,895
Investment Companies		351,099		—			—		351,099
Preferred Stocks
Communications		3,430		2,195			—		5,625
Consumer, Non-cyclical		—		993			—		993
Financial		30,730		10,854			—		41,584
Government		—		5,928			—		5,928
Utilities		8,259		—			—		8,259
Senior Floating Rate Interests*		—		548,729			35,440		584,169
U.S. Government & Government Agency Obligations*		—		3,954			—		3,954
Total investments in securities $		1,246,390	$	6,138,990		$	190,844	$	7,576,224
Assets
Foreign Exchange Contracts
Foreign Currency Contracts		—		4,509			—		4,509
Liabilities
Credit Contracts
Credit Default Swaps		—		(6	)		—		(6	)
Foreign Exchange Contracts
Foreign Currency Contracts		—		(677	)		—		(677	)
Currency Swaps		—		(664	)		—		(664	)
Interest Rate Contracts
Exchange Cleared Interest Rate Swaps**		—		(98	)		—		(98	)
Global Real Estate Securities Fund
Common Stocks
Consumer, Cyclical		77,728		63,235			—		140,963
Diversified		—		1,495			—		1,495

281

				Level 2 - Other
	Level 1 - Quoted		Significant Observable		Level 3 - Significant
Fund		Prices		Inputs	Unobservable Inputs		Totals (Level 1,2,3)
Global Real Estate Securities Fund
Financial	$	1,671,347	$	1,415,193	$	—	$	3,086,540
Technology		41,759		—		—		41,759
Investment Companies		55,455		—		—		55,455
Total investments in securities $		1,846,289	$	1,479,923	$	—	$	3,326,212
Government & High Quality Bond Fund
Bonds*		—		431,859		—		431,859
Investment Companies		4,078		—		—		4,078
U.S. Government & Government Agency Obligations*		—		1,001,791		—		1,001,791
Total investments in securities $		4,078	$	1,433,650	$	—	$	1,437,728
Government Money Market Fund
Bonds*		—		1,885,286		—		1,885,286
Investment Companies		284,400		—		—		284,400
U.S. Government & Government Agency Obligations*		—		164,913		—		164,913
Repurchase Agreements*		—		865,000		—		865,000
Total investments in securities $		284,400	$	2,915,199	$	—	$	3,199,599
High Yield Fund
Bonds*		—		2,451,712		—		2,451,712
Common Stocks
Consumer, Cyclical		—		—		3,027		3,027
Energy		11,692		—		—		11,692
Convertible Bonds*		—		3		—		3
Investment Companies		103,131		—		—		103,131
Preferred Stocks
Consumer, Cyclical		—		—		1,064		1,064
Consumer, Non-cyclical		—		1,835		—		1,835
Senior Floating Rate Interests*		—		280,802		—		280,802
U.S. Government & Government Agency Obligations*		—		24,428		—		24,428
Total investments in securities $		114,823	$	2,758,780	$	4,091	$	2,877,694
Assets
Credit Contracts
Exchange Cleared Credit Default Swaps**		—		547		—		547
High Yield Fund I
Bonds*		—		2,999,802		17,847		3,017,649
Common Stocks
Communications		—		—		—		—
Consumer, Cyclical		—		—		2,174		2,174
Energy		—		16		—		16
Utilities		—		—		127		127
Investment Companies		122,160		—		—		122,160
Preferred Stocks
Communications		—		—		13		13
Senior Floating Rate Interests*		—		496,245		—		496,245
Total investments in securities $		122,160	$	3,496,063	$	20,161	$	3,638,384
Assets
Credit Contracts
Exchange Cleared Credit Default Swaps**		—		257		—		257
Income Fund
Bonds*		—		1,854,373		—		1,854,373
Common Stocks
Energy		6,744		—		—		6,744
Financial		—		—		—		—
Industrial		—		—		28,144		28,144
Utilities		—		—		3,244		3,244
Investment Companies		27,482		—		—		27,482
Senior Floating Rate Interests*		—		20,067		—		20,067
U.S. Government & Government Agency Obligations*		—		952,360		—		952,360
Total investments in securities $		34,226	$	2,826,800	$	31,388	$	2,892,414

282

					Level 2 - Other
	Level 1 - Quoted			Significant Observable			Level 3 - Significant
Fund		Prices			Inputs		Unobservable Inputs		Totals (Level 1,2,3)
Inflation Protection Fund
Bonds*	$	—		$	145,001		$	—	$	145,001
Investment Companies		38,391			—			—		38,391
U.S. Government & Government Agency Obligations*		—			1,406,327			—		1,406,327
Purchased Interest Rate Swaptions		—			5,449			—		5,449
Purchased Capped Options		—			55			—		55
Purchased Options		142			—			—		142
Total investments in securities $		38,533		$	1,556,832		$	—	$	1,595,365
Assets
Foreign Exchange Contracts
Foreign Currency Contracts		—			936			—		936
Interest Rate Contracts
Exchange Cleared Interest Rate Swaps**		—			6,674			—		6,674
Futures**		493			—			—		493
Liabilities
Foreign Exchange Contracts
Foreign Currency Contracts		—			(3,315	)		—		(3,315	)
Interest Rate Contracts
Capped Options		—			(6	)		—		(6	)
Exchange Cleared Interest Rate Swaps**		—			(10,599	)		—		(10,599	)
Futures**		(3,274	)		—			—		(3,274	)
Interest Rate Swaptions		—			(6,628	)		—		(6,628	)
Written Options		(107	)		—			—		(107	)
International Emerging Markets Fund
Common Stocks
Basic Materials		—			41,309			—		41,309
Communications		54,465			92,877			—		147,342
Consumer, Cyclical		11,016			47,578			—		58,594
Consumer, Non-cyclical		5,678			40,954			—		46,632
Diversified		—			2,207			—		2,207
Energy		—			73,139			—		73,139
Financial		22,946			195,899			—		218,845
Industrial		—			42,073			—		42,073
Technology		—			109,153			—		109,153
Utilities		—			12,117			—		12,117
Investment Companies		879			—			—		879
Preferred Stocks
Diversified		—			9,321			—		9,321
Energy		—			4,740			—		4,740
Financial		—			11,512			—		11,512
Total investments in securities $		94,984		$	682,879		$	—	$	777,863
International Fund I
Common Stocks
Basic Materials		1,954			36,735			—		38,689
Communications		10,515			10,727			—		21,242
Consumer, Cyclical		5,553			50,246			—		55,799
Consumer, Non-cyclical		—			39,742			—		39,742
Energy		2,174			26,291			—		28,465
Financial		4,638			72,842			—		77,480
Industrial		3,415			38,911			—		42,326
Technology		12,956			26,905			—		39,861
Utilities		—			7,907			—		7,907
Investment Companies		12,758			—			—		12,758
Total investments in securities $		53,963		$	310,306		$	—	$	364,269
LargeCap Growth Fund
Common Stocks*		527,610			—			—		527,610
Investment Companies		13,624			—			—		13,624
Total investments in securities $		541,234		$	—		$	—	$	541,234
LargeCap Growth Fund I
Common Stocks
Basic Materials		131,859			—			—		131,859

283

				Level 2 - Other
	Level 1 - Quoted		Significant Observable		Level 3 - Significant
Fund		Prices		Inputs	Unobservable Inputs		Totals (Level 1,2,3)
LargeCap Growth Fund I
Communications	$	1,705,487	$	—	$	192	$	1,705,679
Consumer, Cyclical		580,836		—		—		580,836
Consumer, Non-cyclical		2,288,341		—		—		2,288,341
Energy		7,731		—		—		7,731
Financial		676,352		—		—		676,352
Industrial		861,223		—		—		861,223
Technology		1,799,387		—		—		1,799,387
Utilities		39,706		—		—		39,706
Convertible Preferred Stocks
Communications		—		—		31,316		31,316
Investment Companies		148,993		—		—		148,993
Preferred Stocks
Technology		—		1,316		4,557		5,873
	Total investments in securities $	8,239,915	$	1,316	$	36,065	$	8,277,296
Assets
Equity Contracts
Futures**		1,041		—		—	$	1,041
LargeCap S&P 500 Index Fund
Common Stocks*		5,380,786		—		—		5,380,786
Investment Companies		100,739		—		—		100,739
	Total investments in securities $	5,481,525	$	—	$	—	$	5,481,525
Assets
Equity Contracts
Futures**		5,295		—		—		5,295
LargeCap Value Fund III
Common Stocks*		1,936,154		—		—		1,936,154
Investment Companies		55,086		—		—		55,086
	Total investments in securities $	1,991,240	$	—	$	—	$	1,991,240
Assets
Equity Contracts
Futures**		490		—		—		490
MidCap Fund
Common Stocks*		14,055,092		—		—		14,055,092
Investment Companies		37,828		—		—		37,828
	Total investments in securities $	14,092,920	$	—	$	—	$	14,092,920
MidCap Growth Fund
Common Stocks*		168,626		—		—		168,626
Investment Companies		6,139		—		—		6,139
	Total investments in securities $	174,765	$	—	$	—	$	174,765
MidCap Growth Fund III
Common Stocks*		979,287		—		—		979,287
Investment Companies		18,983		—		—		18,983
	Total investments in securities $	998,270	$	—	$	—	$	998,270
Assets
Equity Contracts
Futures**		305		—		—		305
MidCap S&P 400 Index Fund
Common Stocks*		1,294,025		—		—		1,294,025
Investment Companies		28,317		—		—		28,317
	Total investments in securities $	1,322,342	$	—	$	—	$	1,322,342
Assets
Equity Contracts
Futures**		1,315		—		—		1,315
MidCap Value Fund I
Common Stocks*		893,526		—		—		893,526
Investment Companies		14,605		—		—		14,605
	Total investments in securities $	908,131	$	—	$	—	$	908,131
Assets

284

				Level 2 - Other
	Level 1 - Quoted		Significant Observable		Level 3 - Significant
Fund		Prices		Inputs	Unobservable Inputs		Totals (Level 1,2,3)
MidCap Value Fund I
Assets
Equity Contracts
Futures**	$	419	$	—	$	—	$	419
MidCap Value Fund III
Common Stocks*		984,985		—		—		984,985
Investment Companies		19,332		—		—		19,332
	Total investments in securities $	1,004,317	$	—	$	—	$	1,004,317
Assets
Equity Contracts
Futures**		110		—		—		110
Money Market Fund
Bonds*		—		33,305		—		33,305
Commercial Paper*		—		400,907		—		400,907
Investment Companies		20,840		—		—		20,840
Municipal Bonds*		—		37,063		—		37,063
Repurchase Agreements*		—		16,000		—		32,000
	Total investments in securities $	20,840	$	487,275	$	—	$	524,115
Overseas Fund
Common Stocks
Basic Materials		—		233,331		—		233,331
Communications		34,616		181,955		—		216,571
Consumer, Cyclical		24,873		244,086		—		268,959
Consumer, Non-cyclical		26,982		336,555		—		363,537
Diversified		—		2,986		—		2,986
Energy		95,470		161,557		—		257,027
Financial		67,243		596,990		—		664,233
Industrial		382		417,618		—		418,000
Technology		—		97,131		—		97,131
Utilities		—		154,806		—		154,806
Investment Companies		59,946		—		—		59,946
Preferred Stocks
Consumer, Cyclical		—		66,630		—		66,630
	Total investments in securities $	309,512	$	2,493,645	$	—	$	2,803,157
Assets
Equity Contracts
Futures**		270		—		—		270
Principal Capital Appreciation Fund
Common Stocks*		1,702,205		—		—		1,702,205
Investment Companies		35,738		—		—		35,738
	Total investments in securities $	1,737,943	$	—	$	—	$	1,737,943
Principal LifeTime 2010 Fund
Investment Companies		762,044		—		—		762,044
	Total investments in securities $	762,044	$	—	$	—	$	762,044
Principal LifeTime 2015 Fund
Investment Companies		417,454		—		—		417,454
	Total investments in securities $	417,454	$	—	$	—	$	417,454
Principal LifeTime 2020 Fund
Investment Companies		4,101,471		—		—		4,101,471
	Total investments in securities $	4,101,471	$	—	$	—	$	4,101,471
Principal LifeTime 2025 Fund
Investment Companies		1,484,961		—		—		1,484,961
	Total investments in securities $	1,484,961	$	—	$	—	$	1,484,961
Principal LifeTime 2030 Fund
Investment Companies		5,304,584		—		—		5,304,584
	Total investments in securities $	5,304,584	$	—	$	—	$	5,304,584

285

				Level 2 - Other
	Level 1 - Quoted		Significant Observable		Level 3 - Significant
Fund		Prices		Inputs	Unobservable Inputs		Totals (Level 1,2,3)
Principal LifeTime 2035 Fund
Investment Companies	$	1,163,437	$	—	$	—	$	1,163,437
Total investments in securities $		1,163,437	$	—	$	—	$	1,163,437
Principal LifeTime 2040 Fund
Investment Companies		3,617,014		—		—		3,617,014
Total investments in securities $		3,617,014	$	—	$	—	$	3,617,014
Principal LifeTime 2045 Fund
Investment Companies		833,142		—		—		833,142
Total investments in securities $		833,142	$	—	$	—	$	833,142
Principal LifeTime 2050 Fund
Investment Companies		2,126,937		—		—		2,126,937
Total investments in securities $		2,126,937	$	—	$	—	$	2,126,937
Principal LifeTime 2055 Fund
Investment Companies		400,550		—		—		400,550
Total investments in securities $		400,550	$	—	$	—	$	400,550
Principal LifeTime 2060 Fund
Investment Companies		296,977		—		—		296,977
Total investments in securities $		296,977	$	—	$	—	$	296,977
Principal LifeTime 2065 Fund
Investment Companies		10,950		—		—		10,950
Total investments in securities $		10,950	$	—	$	—	$	10,950
Principal LifeTime Hybrid 2015 Fund
Investment Companies		92,550		—		—		92,550
Total investments in securities $		92,550	$	—	$	—	$	92,550
Principal LifeTime Hybrid 2020 Fund
Investment Companies		279,451		—		—		279,451
Total investments in securities $		279,451	$	—	$	—	$	279,451
Principal LifeTime Hybrid 2025 Fund
Investment Companies		189,183		—		—		189,183
Total investments in securities $		189,183	$	—	$	—	$	189,183
Principal LifeTime Hybrid 2030 Fund
Investment Companies		231,325		—		—		231,325
Total investments in securities $		231,325	$	—	$	—	$	231,325
Principal LifeTime Hybrid 2035 Fund
Investment Companies		131,686		—		—		131,686
Total investments in securities $		131,686	$	—	$	—	$	131,686
Principal LifeTime Hybrid 2040 Fund
Investment Companies		155,393		—		—		155,393
Total investments in securities $		155,393	$	—	$	—	$	155,393
Principal LifeTime Hybrid 2045 Fund
Investment Companies		79,186		—		—		79,186
Total investments in securities $		79,186	$	—	$	—	$	79,186
Principal LifeTime Hybrid 2050 Fund
Investment Companies		72,503		—		—		72,503
Total investments in securities $		72,503	$	—	$	—	$	72,503
Principal LifeTime Hybrid 2055 Fund
Investment Companies		22,603		—		—		22,603
Total investments in securities $		22,603	$	—	$	—	$	22,603

286

				Level 2 - Other
	Level 1 - Quoted		Significant Observable		Level 3 - Significant
Fund		Prices		Inputs	Unobservable Inputs		Totals (Level 1,2,3)
Principal LifeTime Hybrid 2060 Fund
Investment Companies	$	7,008	$	—	$	—	$	7,008
Total investments in securities $		7,008	$	—	$	—	$	7,008
Principal LifeTime Hybrid 2065 Fund
Investment Companies		680		—		—		680
Total investments in securities $		680	$	—	$	—	$	680
Principal LifeTime Hybrid Income Fund
Investment Companies		53,946		—		—		53,946
Total investments in securities $		53,946	$	—	$	—	$	53,946
Principal LifeTime Strategic Income Fund
Investment Companies		414,740		—		—		414,740
Total investments in securities $		414,740	$	—	$	—	$	414,740
Real Estate Securities Fund
Common Stocks*		3,786,692		—		—		3,786,692
Investment Companies		61,166		—		—		61,166
Total investments in securities $		3,847,858	$	—	$	—	$	3,847,858
SAM Balanced Portfolio
Investment Companies		4,408,673		—		—		4,408,673
Total investments in securities $		4,408,673	$	—	$	—	$	4,408,673
SAM Conservative Balanced Portfolio
Investment Companies		1,678,268		—		—		1,678,268
Total investments in securities $		1,678,268	$	—	$	—	$	1,678,268
SAM Conservative Growth Portfolio
Investment Companies		2,935,650		—		—		2,935,650
Total investments in securities $		2,935,650	$	—	$	—	$	2,935,650
SAM Flexible Income Portfolio
Investment Companies		2,561,563		—		—		2,561,563
Total investments in securities $		2,561,563	$	—	$	—	$	2,561,563
SAM Strategic Growth Portfolio
Investment Companies		1,798,238		—		—		1,798,238
Total investments in securities $		1,798,238	$	—	$	—	$	1,798,238
Short-Term Income Fund
Bonds*		—		4,604,198		—		4,604,198
Investment Companies		14,374		—		—		14,374
U.S. Government & Government Agency Obligations*		—		70,243		—		70,243
Total investments in securities $		14,374	$	4,674,441	$	—	$	4,688,815
SmallCap Fund
Common Stocks*		628,719		—		—		628,719
Investment Companies		12,748		—		—		12,748
Total investments in securities $		641,467	$	—	$	—	$	641,467
SmallCap Growth Fund I
Common Stocks
Basic Materials		30,846		11		—		30,857
Communications		146,074		—		—		146,074
Consumer, Cyclical		232,984		—		—		232,984
Consumer, Non-cyclical		509,439		1		3		509,443
Energy		20,094		—		—		20,094
Financial		126,068		—		—		126,068
Industrial		277,802		—		—		277,802
Technology		303,881		—		—		303,881

287

				Level 2 - Other
	Level 1 - Quoted		Significant Observable		Level 3 - Significant
Fund		Prices		Inputs	Unobservable Inputs		Totals (Level 1,2,3)
SmallCap Growth Fund I
Utilities	$	550	$	—	$	—	$	550
Investment Companies		62,464		—		—		62,464
Preferred Stocks		18		—		—		18
	Total investments in securities $	1,710,220	$	12	$	3	$	1,710,235
Assets
Equity Contracts
Futures**		160		—		—		160
SmallCap S&P 600 Index Fund
Common Stocks
Basic Materials		51,863		93		—		51,956
Communications		58,566		—		—		58,566
Consumer, Cyclical		182,577		722		—		183,299
Consumer, Non-cyclical		234,460		—		—		234,460
Energy		49,733		—		—		49,733
Financial		310,890		—		—		310,890
Industrial		234,475		—		—		234,475
Technology		109,253		—		—		109,253
Utilities		31,587		—		—		31,587
Investment Companies		37,720		—		—		37,720
	Total investments in securities $	1,301,124	$	815	$	—	$	1,301,939
Assets
Equity Contracts
Futures**		2,250		—		—		2,250
SmallCap Value Fund II
Common Stocks
Basic Materials		29,501		—		—		29,501
Communications		46,401		—		1		46,402
Consumer, Cyclical		117,224		51		—		117,275
Consumer, Non-cyclical		122,393		—		—		122,393
Diversified		743		—		—		743
Energy		66,777		—		—		66,777
Financial		348,162		14		—		348,176
Government		21		—		—		21
Industrial		156,107		—		—		156,107
Technology		70,255		—		—		70,255
Utilities		48,113		—		—		48,113
Investment Companies		39,580		—		—		39,580
Preferred Stocks		11		—		—		11
	Total investments in securities $	1,045,288	$	65	$	1	$	1,045,354
Assets
Equity Contracts
Futures**		208		—		—		208
Tax-Exempt Bond Fund
Municipal Bonds*		—		406,882		—		406,882
	Total investments in securities $	—	$	406,882	$	—	$	406,882
*For additional detail regarding sector classifications, please see the Schedule of Investments.
**Exchange cleared swaps and futures are presented at the unrealized appreciation/(depreciation) of the instrument.

288

Certain detailed information is provided for those Funds with significant investments in Level 3 securities. Quantitative information about the significant unobservable inputs used in the fair value measurements categorized with Level 3 of the fair value hierarchy is as follows

(amounts in thousands):

			Fair Value as of
Fund	Asset Type		January 31, 2019	Valuation Technique	Unobservable Input		Input Valuations
Global Diversified	Bonds		$ 105,024	Yield Analysis	Yield to Maturity		9.0 – 12.5	%
Income Fund
	Common Stocks		47,598	Enterprise Valuation Model	EBITDA Multiples		4.75 – 7.00	x
				Discounted Cash Flow	Discount Rate		13.6 – 16.0	%
	Common Stocks		193	Liquidation Analysis	Available Cash	$	10,319,800
	Common Stocks		68	Indicative Market Quotations	Broker Quote	$	0.90
	Credit Linked
	Structured Notes		2,521	Indicative Market Quotations	Broker Quote	$	0.65
	Senior Floating		35,440	Yield Analysis	Yield to Maturity		0.0 – 10.8	%
	Rate Interests
		$	190,844
Income Fund	Common Stocks		$ 28,144	Enterprise Valuation Model	EBITDA Multiples		0.95 – 1.15	x
	Common Stocks		3,244	Indicative Market Quotations	Broker Quote	$	140.00
		$	31,388

The changes in investments measured at fair value for which Level 3 inputs have been used to determine fair value are as follows (amounts shown in thousands):

																					Net Change
							Accrued														in Unrealized
							Discounts/														Appreciation/
							Premiums														(Depreciation) on
		Value		Realized			and Change														Investments Held
		October		Gain/			in Unrealized					Proceeds			Transfers into		Transfers Out of		Value January		at January 31,
Fund		31, 2018		(Loss)			Gain/ (Loss)			Purchases		from Sales			Level 3*		Level 3**		31, 2019		2019
Global Diversified Income Fund***
Bonds	$	111,011	$	(17	)	$	22		$	—	$	(5,992	)	$	—	$	—	$	105,024	$	25
Common Stock
Basic Materials		46,459		—			(7,112	)		—		—			—		—		39,347		(7,112	)
Consumer,
ssCyclical		68		—			1,862			6,389		—			—		—		8,319		1,862
Energy		189		—			4			—		—			—		—		193		4
Credit Linked
Structured Notes		2,764		(10	)		(28	)		—		(205	)		—		—		2,521		(48	)
Senior Floating
Rates Interests		35,440		—			—			—		—			—		—		35,440		—
Total	$	195,931	$	(27	)	$	(5,252	)	$	6,389	$	(6,197	)	$	—	$	—	$	190,844	$	(5,269	)
Income Fund
Common Stock
Industrial	$	29,866	$	—		$	(1,722	)	$	—	$	—		$	—	$	—	$	28,144	$	(1,722	)
Utilities		—		—			704			2,540		—			—		—		3,244		704
Total	$	29,866	$	—		$	(1,018	)	$	2,540	$	—		$	—	$	—	$	31,388	$	(1,018	)

*Securities are transferred into Level 3 for a variety of reasons including, but not limited to: 1. Securities where trading has been halted 2. Securities that have certain restrictions on trading 3. Instances in which a security is not priced by a pricing services

**Securities are transferred out of Level 3 for a variety of reasons including, but not limited to: 1. Securities where trading resumes 2. Securities where trading restrictions have expired 3. Instances in which a price becomes available from a pricing service

At the end of the period, there were no other Funds which had a significant Level 3 balance. During the period, there were no significant purchases, sales, or transfers into or out of Level 3, except as noted above.

The Funds' Schedules of Investments as of January 31, 2019 have not been audited. This report is provided for the general information of the Funds' shareholders. For more information regarding the Fund and its holdings, please see the Funds' prospectus and annual report.

289

ITEM 2 – CONTROLS AND PROCEDURES

a) The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) are effective (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing).

(b) There have been no changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 3 – EXHIBITS

Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act are attached hereto as Exhibit 99.CERT.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)

Principal Funds, Inc.

By /s/ Michael J. Beer

Michael J. Beer, President and CEO

Date 03/19/2019

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By /s/ Michael J. Beer

Michael J. Beer, President and CEO

Date 03/19/2019

By /s/ Tracy W. Bollin

Tracy W. Bollin, Chief Financial Officer

Date 03/19/2019