Schedule

of

Investments

California

Municipal

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

1

INVESTMENT

COMPANIES

-

0

.01

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.01

%

Invesco

California

AMT-Free

Municipal

Bond

ETF

500‌

$

12‌

iShares

California

Muni

Bond

ETF

702‌

40‌

$

52‌

TOTAL

INVESTMENT

COMPANIES

$

52‌

MUNICIPAL

BONDS

-

103

.08

%

Principal

Amount

(000's)

Value

(000's)

California

-

98

.58

%

Abag

Finance

Authority

for

Nonprofit

Corps

5.00%,

08/01/2043

$

1,500‌

$

1,500‌

Alameda

Community

Improvement

Commission

Successor

Agency

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

09/01/2031

(a)

1,000‌

1,026‌

Alameda

Corridor

Transportation

Authority

0.00%,

10/01/2047

(b)

1,750‌

889‌

5.00%,

10/01/2035

5,270‌

5,418‌

Alameda

Unified

School

District-Alameda

County/

CA

5.00%,

08/01/2032

1,795‌

1,874‌

Beverly

Hills

Unified

School

District

CA

3.00%,

08/01/2044

2,040‌

1,716‌

California

Community

Choice

Financing

Authority

4.00%,

08/01/2030

1,500‌

1,518‌

4.00%,

08/01/2031

1,245‌

1,245‌

4.00%,

02/01/2052

(c)

5,000‌

4,970‌

4.00%,

10/01/2052

(c)

6,115‌

6,098‌

5.00%,

07/01/2053

(c)

5,950‌

6,242‌

California

County

Tobacco

Securitization

Agency

4.00%,

06/01/2049

1,500‌

1,389‌

California

Educational

Facilities

Authority

5.00%,

10/01/2036

1,000‌

1,040‌

5.00%,

05/01/2045

3,000‌

3,548‌

5.00%,

10/01/2045

1,000‌

1,028‌

California

Health

Facilities

Financing

Authority

5.00%,

08/15/2031

2,700‌

2,866‌

5.00%,

08/15/2034

2,000‌

2,120‌

5.00%,

02/01/2035

2,000‌

2,054‌

5.00%,

06/01/2041

(c)

10,000‌

11,231‌

5.00%,

11/15/2046

(d)

4,500‌

4,706‌

5.00%,

11/15/2048

2,785‌

2,883‌

California

Housing

Finance

Agency

3.50%,

11/20/2035

9,172‌

8,588‌

4.25%,

01/15/2035

8,451‌

8,455‌

California

Housing

Finance

Agency

(credit

support

from

Federal

Home

Loan

Mortgage

Corporation

Collateral

)

3.75%,

03/25/2035

(a)

2,629‌

2,559‌

California

Infrastructure

&

Economic

Development

Bank

3.65%,

01/01/2050

(c),(e)

5,000‌

4,979‌

5.00%,

08/01/2036

2,250‌

2,485‌

5.00%,

08/01/2037

1,000‌

1,097‌

5.00%,

08/01/2038

1,175‌

1,283‌

5.00%,

08/01/2039

1,130‌

1,229‌

California

Municipal

Finance

Authority

2.40%,

10/01/2044

(c)

4,000‌

3,604‌

4.00%,

07/15/2029

11,700‌

11,596‌

4.00%,

10/01/2039

2,150‌

2,062‌

4.00%,

10/01/2045

(c)

5,750‌

5,749‌

4.00%,

10/01/2046

1,930‌

1,716‌

5.00%,

05/15/2033

1,000‌

1,056‌

5.00%,

05/15/2034

1,000‌

1,052‌

5.00%,

12/31/2034

7,550‌

7,929‌

5.00%,

12/31/2036

8,000‌

8,305‌

5.00%,

05/15/2038

2,000‌

2,062‌

5.00%,

10/01/2044

1,000‌

1,018‌

5.25%,

11/01/2036

2,100‌

2,114‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

California

Municipal

Finance

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

4.00%,

05/15/2046

(a)

$

2,000‌

$

1,867‌

5.00%,

05/15/2031

(a)

400‌

444‌

5.00%,

05/15/2043

(a)

600‌

629‌

5.00%,

05/15/2044

(a)

5,000‌

5,230‌

California

Municipal

Finance

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

-

Transfer

Custodial

Receipt

)

5.00%,

05/15/2031

(a)

10,000‌

10,822‌

California

Pollution

Control

Financing

Authority

3.00%,

11/01/2025

11,380‌

11,116‌

3.25%,

12/01/2027

(c)

2,000‌

1,987‌

4.30%,

07/01/2040

3,600‌

3,627‌

5.00%,

07/01/2029

(e)

1,000‌

1,043‌

5.00%,

07/01/2029

(e)

1,000‌

1,058‌

5.00%,

07/01/2030

(e)

2,000‌

2,008‌

5.00%,

07/01/2030

(e)

565‌

601‌

5.00%,

07/01/2031

(e)

1,000‌

1,068‌

5.00%,

07/01/2037

(e)

11,000‌

11,001‌

5.00%,

07/01/2039

(e)

10,500‌

10,714‌

California

Public

Finance

Authority

5.00%,

11/15/2036

(e)

275‌

267‌

5.00%,

11/15/2046

(e)

500‌

450‌

5.00%,

11/15/2051

(e)

250‌

219‌

5.00%,

11/15/2056

(e)

750‌

648‌

California

School

Finance

Authority

5.00%,

07/01/2035

(e)

1,925‌

1,969‌

5.00%,

08/01/2038

(e)

1,000‌

1,016‌

California

State

Public

Works

Board

5.00%,

10/01/2039

4,500‌

4,581‌

California

State

University

5.00%,

11/01/2037

2,000‌

2,135‌

California

Statewide

Communities

Development

Authority

3.00%,

06/01/2029

(e)

750‌

679‌

3.50%,

08/01/2034

(c)

100‌

100‌

4.00%,

09/02/2029

1,000‌

1,007‌

4.00%,

07/01/2048

1,800‌

1,721‌

5.00%,

10/01/2028

1,875‌

1,921‌

5.00%,

11/01/2032

(e)

1,135‌

1,163‌

5.00%,

05/15/2034

5,210‌

5,355‌

5.00%,

06/01/2034

(e)

375‌

369‌

5.00%,

09/02/2034

1,000‌

1,061‌

5.00%,

12/01/2036

(e)

5,000‌

5,025‌

5.00%,

09/02/2038

3,000‌

3,096‌

5.00%,

06/01/2039

(e)

475‌

460‌

5.00%,

09/02/2039

745‌

768‌

5.00%,

09/02/2039

900‌

929‌

5.00%,

09/02/2039

945‌

982‌

5.00%,

05/15/2040

3,840‌

3,899‌

5.00%,

09/02/2040

1,000‌

1,029‌

5.00%,

12/01/2041

(e)

2,725‌

2,708‌

5.00%,

09/02/2044

1,425‌

1,450‌

5.00%,

12/01/2046

(e)

1,620‌

1,581‌

5.00%,

09/02/2048

940‌

958‌

5.00%,

09/02/2049

600‌

609‌

5.00%,

06/01/2051

(e)

1,950‌

1,796‌

5.25%,

12/01/2034

3,500‌

3,550‌

5.25%,

12/01/2038

(e)

1,000‌

1,014‌

5.25%,

12/01/2043

(e)

3,825‌

3,827‌

California

Statewide

Communities

Development

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

4.00%,

05/15/2036

(a)

3,000‌

3,046‌

Schedule

of

Investments

California

Municipal

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

2

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

California

Statewide

Financing

Authority

6.00%,

05/01/2043

$

2,050‌

$

2,086‌

6.00%,

05/01/2043

1,550‌

1,577‌

Chino

Valley

Unified

School

District

5.25%,

08/01/2047

2,000‌

2,115‌

City

of

Compton

CA

Water

Revenue

6.00%,

08/01/2039

1,250‌

1,242‌

City

of

Irvine

CA

4.00%,

09/02/2038

1,000‌

977‌

5.00%,

09/01/2049

2,000‌

2,011‌

City

of

Long

Beach

CA

Airport

System

Revenue

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.25%,

06/01/2047

(a)

3,600‌

3,848‌

City

of

Los

Angeles

CA

Wastewater

System

Revenue

5.00%,

06/01/2034

2,000‌

2,072‌

City

of

Los

Angeles

Department

of

Airports

3.25%,

05/15/2049

720‌

567‌

5.00%,

05/15/2026

1,000‌

1,024‌

5.00%,

05/15/2026

3,085‌

3,212‌

5.00%,

05/15/2026

415‌

434‌

5.00%,

05/15/2029

1,875‌

2,042‌

5.00%,

05/15/2036

235‌

264‌

5.00%,

05/15/2036

5,000‌

5,330‌

5.00%,

05/15/2036

1,500‌

1,529‌

5.00%,

05/15/2037

(d)

4,225‌

4,587‌

5.00%,

05/15/2038

1,155‌

1,217‌

5.00%,

05/15/2039

(d)

3,000‌

3,151‌

5.00%,

05/15/2042

(d)

3,500‌

3,597‌

5.00%,

05/15/2044

(d)

3,100‌

3,189‌

5.00%,

05/15/2044

(d)

550‌

567‌

5.00%,

05/15/2044

(d)

7,790‌

8,082‌

5.00%,

05/15/2048

1,500‌

1,548‌

5.25%,

05/15/2048

(d)

2,000‌

2,083‌

5.50%,

05/15/2040

(d)

5,000‌

5,560‌

City

of

Riverside

CA

Sewer

Revenue

5.00%,

08/01/2040

4,000‌

4,131‌

City

of

San

Francisco

CA

Public

Utilities

Commission

Water

Revenue

5.00%,

11/01/2034

1,800‌

1,930‌

Coachella

Valley

Unified

School

District/CA

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

0.00%,

08/01/2039

(a),(b)

4,000‌

2,036‌

Compton

Public

Finance

Authority

4.50%,

09/01/2032

(e)

8,000‌

7,819‌

County

of

Sacramento

CA

Airport

System

Revenue

5.00%,

07/01/2036

1,350‌

1,413‌

5.00%,

07/01/2037

2,000‌

2,093‌

CSCDA

Community

Improvement

Authority

5.00%,

01/01/2054

(e)

5,000‌

3,983‌

Dinuba

Redevelopment

Agency

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

09/01/2033

(a)

2,000‌

2,052‌

East

Bay

Municipal

Utility

District

Water

System

Revenue

3.00%,

06/01/2037

10‌

9‌

Escondido

Union

High

School

District

0.00%,

08/01/2041

(b)

1,000‌

454‌

Foothill-Eastern

Transportation

Corridor

Agency

4.00%,

01/15/2046

6,000‌

5,793‌

Golden

State

Tobacco

Securitization

Corp

5.00%,

06/01/2026

1,000‌

1,059‌

5.00%,

06/01/2028

5,000‌

5,419‌

5.00%,

06/01/2051

2,360‌

2,458‌

Indio

Redevelopment

Agency

Successor

Agency

5.63%,

08/15/2035

295‌

296‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

Inland

Valley

Development

Agency

5.25%,

09/01/2037

$

1,000‌

$

1,008‌

La

Verne

Public

Financing

Authority

7.25%,

09/01/2026

370‌

371‌

Long

Beach

Bond

Finance

Authority

5.00%,

11/15/2035

3,485‌

3,716‌

5.50%,

11/15/2030

1,010‌

1,102‌

Los

Angeles

County

Metropolitan

Transportation

Authority

Sales

Tax

Revenue

5.00%,

07/01/2038

960‌

1,119‌

Los

Angeles

County

Public

Works

Financing

Authority

5.00%,

12/01/2033

2,000‌

2,101‌

Los

Angeles

County

Sanitation

Districts

Financing

Authority

5.00%,

10/01/2035

4,500‌

4,686‌

Los

Angeles

Department

of

Water

&

Power

5.00%,

07/01/2042

(d)

5,500‌

6,135‌

Los

Angeles

Unified

School

District/CA

5.00%,

07/01/2035

2,700‌

2,939‌

5.25%,

07/01/2042

8,125‌

8,795‌

Merced

Union

High

School

District

0.00%,

08/01/2032

(b)

3,380‌

2,455‌

Metropolitan

Water

District

of

Southern

California

5.00%,

07/01/2039

1,000‌

1,120‌

5.00%,

07/01/2040

5,000‌

5,579‌

5.00%,

10/01/2045

1,410‌

1,533‌

Mizuho

Floater/Residual

Trust

4.70%,

01/01/2040

(c),(e)

1,200‌

1,200‌

5.15%,

05/01/2031

(c),(e)

1,000‌

1,000‌

5.15%,

04/15/2035

(c),(e)

1,000‌

1,000‌

5.15%,

10/15/2037

(c),(e)

1,500‌

1,500‌

Mountain

View

Shoreline

Regional

Park

Community

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

08/01/2048

(a)

3,000‌

3,170‌

M-S-R

Energy

Authority

6.13%,

11/01/2029

2,045‌

2,197‌

Norco

Community

Redevelopment

Agency

Successor

Agency

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

03/01/2032

(a)

1,000‌

1,014‌

Norman

Y

Mineta

San

Jose

International

Airport

SJC

5.00%,

03/01/2047

6,000‌

6,107‌

5.00%,

03/01/2047

1,500‌

1,553‌

Nuveen

California

AMT-Free

Quality

Municipal

Income

Fund

4.43%,

10/01/2047

(c),(e)

14,000‌

14,000‌

Oakland

Unified

School

District/Alameda

County

5.00%,

08/01/2040

3,400‌

3,534‌

Oakland

Unified

School

District/Alameda

County

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

4.00%,

08/01/2037

(a)

1,505‌

1,526‌

Pittsburg

Successor

Agency

Redevelopment

Agency

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

09/01/2028

(a)

1,000‌

1,053‌

5.00%,

09/01/2029

(a)

1,000‌

1,054‌

Port

Commission

of

the

City

&

County

of

San

Francisco

4.00%,

03/01/2035

1,000‌

1,004‌

Port

of

Los

Angeles

5.00%,

08/01/2025

1,210‌

1,247‌

5.00%,

08/01/2032

1,740‌

1,762‌

Poway

Unified

School

District

0.00%,

08/01/2036

(b)

4,000‌

2,468‌

Schedule

of

Investments

California

Municipal

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

3

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

5.00%,

05/15/2035

$

4,540‌

$

4,810‌

Rialto

Redevelopment

Agency

5.00%,

09/01/2037

1,000‌

1,067‌

Richmond

Joint

Powers

Financing

Authority

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

11/01/2035

(a)

1,180‌

1,297‌

5.00%,

11/01/2037

(a)

3,660‌

3,963‌

Ripon

Unified

School

District

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

0.00%,

08/01/2033

(a),(b)

855‌

501‌

Ripon

Unified

School

District

-

Unrefunded

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

0.00%,

08/01/2033

(a),(b)

255‌

150‌

Riverside

Community

Properties

Development

Inc

6.00%,

10/15/2038

1,000‌

1,006‌

Riverside

County

Public

Financing

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

10/01/2029

(a)

1,500‌

1,561‌

Riverside

County

Transportation

Commission

4.00%,

06/01/2037

1,875‌

1,893‌

Sacramento

Area

Flood

Control

Agency

5.00%,

10/01/2033

2,000‌

2,136‌

Salinas

Valley

Solid

Waste

Authority

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.50%,

08/01/2031

(a)

3,250‌

3,319‌

San

Diego

Association

of

Governments

South

Bay

Expressway

Revenue

5.00%,

07/01/2036

1,500‌

1,604‌

5.00%,

07/01/2037

2,300‌

2,445‌

San

Diego

County

Regional

Airport

Authority

4.00%,

07/01/2038

10,815‌

11,058‌

5.00%,

07/01/2025

955‌

973‌

5.00%,

07/01/2039

2,000‌

2,167‌

5.00%,

07/01/2042

5,000‌

5,132‌

San

Diego

Public

Facilities

Financing

Authority

4.00%,

08/01/2045

1,000‌

1,000‌

San

Diego

Unified

School

District/CA

4.00%,

07/01/2038

2,120‌

2,159‌

San

Francisco

Bay

Area

Rapid

Transit

District

Sales

Tax

Revenue

4.00%,

07/01/2036

3,035‌

3,107‌

4.00%,

07/01/2037

2,500‌

2,543‌

San

Francisco

City

&

County

Airport

Comm-San

Francisco

International

Airport

5.00%,

05/01/2031

1,000‌

1,066‌

5.00%,

05/01/2034

1,000‌

1,080‌

5.00%,

05/01/2036

3,000‌

3,195‌

5.00%,

05/01/2042

1,500‌

1,538‌

San

Joaquin

Hills

Transportation

Corridor

Agency

5.00%,

01/15/2034

7,800‌

8,026‌

San

Luis

Obispo

County

Financing

Authority

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

08/01/2030

(a)

1,000‌

1,001‌

San

Luis

Obispo

County

Financing

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

09/01/2037

(a)

1,000‌

1,037‌

San

Mateo

Foster

City

Public

Financing

Authority

4.00%,

08/01/2037

2,070‌

2,114‌

San

Ramon

Valley

Fire

Protection

District

4.00%,

08/01/2050

680‌

671‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

Santa

Monica-Malibu

Unified

School

District

4.00%,

08/01/2038

$

2,975‌

$

3,016‌

4.00%,

08/01/2039

1,510‌

1,522‌

Southern

California

Public

Power

Authority

5.00%,

11/01/2028

2,150‌

2,258‌

5.00%,

11/01/2029

2,725‌

2,872‌

State

of

California

5.00%,

09/01/2028

5,030‌

5,574‌

5.00%,

09/01/2034

5,000‌

5,326‌

State

of

California

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.25%,

08/01/2032

(a)

5,000‌

5,992‌

Stockton

Unified

School

District

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

08/01/2038

(a)

1,500‌

1,519‌

Tender

Option

Bond

Trust

Receipts/Certificates

4.81%,

04/01/2043

(c),(e)

1,500‌

1,500‌

Tobacco

Securitization

Authority

of

Southern

California

5.00%,

06/01/2035

1,500‌

1,630‌

5.00%,

06/01/2048

5,000‌

5,209‌

Transbay

Joint

Powers

Authority

5.00%,

10/01/2030

400‌

435‌

5.00%,

10/01/2037

700‌

738‌

Travis

Unified

School

District

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

09/01/2029

(a)

1,000‌

1,046‌

Tulare

County

Transportation

Authority

5.00%,

02/01/2029

1,000‌

1,009‌

University

of

California

4.00%,

05/15/2037

3,365‌

3,542‌

5.00%,

05/15/2044

705‌

713‌

Woodland-Davis

Clean

Water

Agency

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

03/01/2039

(a)

1,500‌

1,559‌

$

581,885‌

Guam

-

1

.53

%

Guam

Government

Waterworks

Authority

5.00%,

07/01/2040

7,890‌

8,009‌

Port

Authority

of

Guam

5.00%,

07/01/2048

1,000‌

1,018‌

$

9,027‌

Puerto

Rico

-

1

.92

%

Commonwealth

of

Puerto

Rico

0.00%,

07/01/2024

(b)

66‌

64‌

0.00%,

07/01/2033

(b)

526‌

321‌

0.00%,

11/01/2043

(b),(c)

1,929‌

989‌

4.00%,

07/01/2033

5,500‌

5,218‌

4.00%,

07/01/2037

316‌

283‌

4.00%,

07/01/2041

429‌

368‌

4.00%,

07/01/2046

446‌

371‌

5.38%,

07/01/2025

456‌

466‌

5.63%,

07/01/2027

451‌

474‌

5.63%,

07/01/2029

444‌

475‌

5.75%,

07/01/2031

431‌

470‌

Puerto

Rico

Sales

Tax

Financing

Corp

Sales

Tax

Revenue

4.50%,

07/01/2034

1,838‌

1,822‌

$

11,321‌

Schedule

of

Investments

California

Municipal

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

4

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Virgin

Islands

-

1

.05

%

Matching

Fund

Special

Purpose

Securitization

Corp

5.00%,

10/01/2039

$

6,250‌

$

6,229‌

TOTAL

MUNICIPAL

BONDS

$

608,462‌

Total

Investments

$

608,514‌

Liability

for

Floating

Rate

Notes

Issued

in

Conjunction

with

Securities

Held

-

(4.30)%

Notes

with

interest

rates

of

4.03%

-

4.06%

at

July

31,

2023

and

contractual

maturities

of

collateral

of

2023-2030.

(f)

$

(

25,360‌

)

(

25,360‌

)

Total

Net

Investments

$

583,154‌

Other

Assets

and

Liabilities

-  1.21%

7,132‌

TOTAL

NET

ASSETS

-

100.00%

$

590,286‌

(a)

Credit

support

indicates

investments

that

benefit

from

credit

enhancement

or

liquidity

support

provided

by

a

third

party

bank,

institution,

or

government

agency.

(b)

Non-income

producing

security

(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

or

portion

of

underlying

security

related

to

Inverse

Floaters

entered

into

by

the

fund.

(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

$87,665

or

14.85%

of

net

assets.

(f)

Floating

rate

securities.

The

interest

rate(s)

shown

reflect

the

rates

in

effect

at

July

31,

2023.

Portfolio

Summary

Sector

Percent

Revenue

Bonds

72

.95‌

%

Insured

10

.92‌

%

General

Obligation

Unlimited

8

.30‌

%

Prerefunded

4

.83‌

%

Special

Assessment

2

.54‌

%

Tax-exempt

Preferreds

2

.37‌

%

Tax

Allocation

0

.55‌

%

Special

Tax

0

.34‌

%

Notes

0

.17‌

%

Certificate

Participation

0

.11‌

%

Exchange-Traded

Funds

0

.01‌

%

Liability

For

Floating

Rate

Notes

Issued

(

4

.30‌

)

%

Other

Assets

and

Liabilities

1

.21‌

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Core

Fixed

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

5

INVESTMENT

COMPANIES

-

3

.24

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

3

.24

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

4,636,224‌

$

4,636‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

324,998,727‌

324,999‌

$

329,635‌

TOTAL

INVESTMENT

COMPANIES

$

329,635‌

COMMON

STOCKS

-

0

.21

%

Shares

Held

Value

(000's)

Transportation

-

0

.21

%

Trailer

Bridge

Inc

(d),(e)

178,279‌

$

21,252‌

TOTAL

COMMON

STOCKS

$

21,252‌

BONDS

-

52

.87

%

Principal

Amount

(000's)

Value

(000's)

Airlines

-

0

.58

%

Alaska

Airlines

2020-1

Class

A

Pass

Through

Trust

4.80%,

02/15/2029

(f)

$

24,121‌

$

23,390‌

Delta

Air

Lines

Inc

/

SkyMiles

IP

Ltd

4.75%,

10/20/2028

(f)

24,492‌

23,705‌

United

Airlines

2013-1

Class

A

Pass

Through

Trust

4.30%,

02/15/2027

5,568‌

5,351‌

United

Airlines

2019-2

Class

AA

Pass

Through

Trust

2.70%,

11/01/2033

7,731‌

6,471‌

$

58,917‌

Apparel

-

0

.13

%

Under

Armour

Inc

3.25%,

06/15/2026

14,750‌

13,520‌

Automobile

Asset

Backed

Securities

-

1

.68

%

BMW

Vehicle

Owner

Trust

2022-A

5.59%,

12/26/2024

5,713‌

5,714‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.52%

BMW

Vehicle

Owner

Trust

2023-A

5.50%,

04/27/2026

24,000‌

24,007‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.43%

Carvana

Auto

Receivables

Trust

2021-P4

0.82%,

04/10/2025

190‌

190‌

1.31%,

01/11/2027

18,000‌

17,264‌

Ford

Credit

Auto

Owner

Trust

2022-B

5.67%,

02/15/2025

8,944‌

8,946‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.60%

Ford

Credit

Auto

Owner

Trust

2022-C

5.59%,

04/15/2025

24,552‌

24,558‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.52%

Ford

Credit

Auto

Owner

Trust

2023-A

5.79%,

03/15/2026

14,000‌

14,025‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.72%

GM

Financial

Consumer

Automobile

Receivables

Trust

2022-3

5.67%,

09/16/2025

13,739‌

13,751‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.60%

GM

Financial

Consumer

Automobile

Receivables

Trust

2022-4

5.72%,

11/17/2025

28,091‌

28,121‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.65%

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-1

5.69%,

03/16/2026

18,000‌

18,018‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.62%

Toyota

Auto

Receivables

2022-B

Owner

Trust

5.56%,

01/15/2025

6,108‌

6,107‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.49%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Asset

Backed

Securities

(continued)

Toyota

Auto

Receivables

2022-C

Owner

Trust

5.64%,

08/15/2025

$

10,213‌

$

10,215‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.57%

$

170,916‌

Automobile

Floor

Plan

Asset

Backed

Securities

-

0

.20

%

Ford

Credit

Floorplan

Master

Owner

Trust

A

5.84%,

09/15/2025

500‌

500‌

1.00

x

1

Month

USD

LIBOR

+

0.50%

6.32%,

05/15/2028

(f)

20,000‌

20,181‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

1.25%

$

20,681‌

Automobile

Manufacturers

-

0

.29

%

American

Honda

Finance

Corp

0.55%,

07/12/2024

15,000‌

14,307‌

2.30%,

09/09/2026

7,000‌

6,447‌

4.75%,

01/12/2026

9,000‌

8,955‌

$

29,709‌

Banks

-

9

.41

%

Bank

of

America

Corp

0.81%,

10/24/2024

(g)

20,000‌

19,738‌

Secured

Overnight

Financing

Rate

+

0.73%

2.46%,

10/22/2025

(g)

35,000‌

33,631‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.13%

3.19%,

07/23/2030

(g)

8,000‌

7,086‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.44%

3.88%,

08/01/2025

10,000‌

9,746‌

3.97%,

02/07/2030

(g)

8,000‌

7,441‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.47%

5.08%,

01/20/2027

(g)

20,000‌

19,786‌

Secured

Overnight

Financing

Rate

+

1.29%

6.75%,

06/01/2028

2,000‌

2,163‌

Bank

of

New

York

Mellon

Corp/The

0.35%,

12/07/2023

18,000‌

17,677‌

1.65%,

01/28/2031

10,000‌

8,012‌

2.10%,

10/24/2024

50,000‌

48,038‌

2.20%,

08/16/2023

9,500‌

9,487‌

2.80%,

05/04/2026

8,000‌

7,539‌

3.00%,

10/30/2028

9,000‌

8,126‌

Citigroup

Inc

0.78%,

10/30/2024

(g)

9,000‌

8,880‌

Secured

Overnight

Financing

Rate

+

0.69%

2.98%,

11/05/2030

(g)

51,000‌

44,199‌

Secured

Overnight

Financing

Rate

+

1.42%

3.88%,

03/26/2025

23,000‌

22,304‌

4.45%,

09/29/2027

8,000‌

7,695‌

Cullen/Frost

Bankers

Inc

4.50%,

03/17/2027

11,000‌

10,467‌

Fifth

Third

Bancorp

2.38%,

01/28/2025

59,000‌

55,945‌

3.65%,

01/25/2024

14,000‌

13,844‌

Goldman

Sachs

Group

Inc/The

1.99%,

01/27/2032

(g)

15,000‌

11,815‌

Secured

Overnight

Financing

Rate

+

1.09%

3.50%,

11/16/2026

21,000‌

19,805‌

3.81%,

04/23/2029

(g)

13,000‌

12,099‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.42%

4.25%,

10/21/2025

23,500‌

22,775‌

Schedule

of

Investments

Core

Fixed

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

6

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

JPMorgan

Chase

&

Co

1.05%,

11/19/2026

(g)

$

9,000‌

$

8,128‌

Secured

Overnight

Financing

Rate

+

0.80%

2.53%,

11/19/2041

(g)

9,000‌

6,226‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.51%

2.74%,

10/15/2030

(g)

47,000‌

40,784‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.51%

3.63%,

05/13/2024

15,900‌

15,656‌

3.90%,

07/15/2025

8,000‌

7,801‌

KeyCorp

2.25%,

04/06/2027

30,000‌

26,029‌

2.55%,

10/01/2029

50,000‌

40,256‌

Morgan

Stanley

0.86%,

10/21/2025

(g)

7,500‌

7,037‌

Secured

Overnight

Financing

Rate

+

0.75%

1.79%,

02/13/2032

(g)

10,000‌

7,777‌

Secured

Overnight

Financing

Rate

+

1.03%

1.93%,

04/28/2032

(g)

6,250‌

4,889‌

Secured

Overnight

Financing

Rate

+

1.02%

2.70%,

01/22/2031

(g)

38,000‌

32,424‌

Secured

Overnight

Financing

Rate

+

1.14%

2.72%,

07/22/2025

(g)

12,000‌

11,620‌

Secured

Overnight

Financing

Rate

+

1.15%

3.95%,

04/23/2027

10,000‌

9,515‌

4.00%,

07/23/2025

5,000‌

4,870‌

5.12%,

02/01/2029

(g)

18,000‌

17,817‌

Secured

Overnight

Financing

Rate

+

1.73%

6.25%,

08/09/2026

4,000‌

4,098‌

PNC

Bank

NA

2.70%,

10/22/2029

53,000‌

44,594‌

2.95%,

02/23/2025

10,000‌

9,554‌

3.10%,

10/25/2027

4,750‌

4,349‌

PNC

Financial

Services

Group

Inc/The

2.31%,

04/23/2032

(g)

15,000‌

12,244‌

Secured

Overnight

Financing

Rate

+

0.98%

8.98%,

11/01/2023

(h),(i)

19,800‌

19,908‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.94%

Truist

Bank

2.64%,

09/17/2029

(g)

52,000‌

48,209‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.15%

3.30%,

05/15/2026

5,000‌

4,653‌

Truist

Financial

Corp

1.27%,

03/02/2027

(g)

5,500‌

4,902‌

Secured

Overnight

Financing

Rate

+

0.61%

US

Bancorp

2.49%,

11/03/2036

(g)

29,000‌

21,833‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

0.95%

3.00%,

07/30/2029

6,000‌

5,160‌

3.15%,

04/27/2027

3,800‌

3,531‌

3.60%,

09/11/2024

12,000‌

11,714‌

3.90%,

04/26/2028

5,000‌

4,723‌

4.84%,

02/01/2034

(g)

25,000‌

23,479‌

Secured

Overnight

Financing

Rate

+

1.60%

US

Bank

NA/Cincinnati

OH

2.80%,

01/27/2025

(i)

7,000‌

6,714‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Wells

Fargo

&

Co

2.41%,

10/30/2025

(g)

$

32,000‌

$

30,622‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.09%

2.88%,

10/30/2030

(g)

32,000‌

27,701‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.43%

$

957,115‌

Beverages

-

0

.53

%

Anheuser-Busch

Cos

LLC

/

Anheuser-Busch

InBev

Worldwide

Inc

4.70%,

02/01/2036

34,000‌

32,964‌

Anheuser-Busch

InBev

Worldwide

Inc

4.90%,

01/23/2031

21,000‌

21,203‌

$

54,167‌

Biotechnology

-

1

.91

%

Amgen

Inc

1.65%,

08/15/2028

20,000‌

17,135‌

2.20%,

02/21/2027

11,500‌

10,444‌

2.45%,

02/21/2030

40,000‌

34,155‌

5.25%,

03/02/2033

19,000‌

18,963‌

Biogen

Inc

2.25%,

05/01/2030

65,000‌

53,701‌

Gilead

Sciences

Inc

1.20%,

10/01/2027

19,000‌

16,460‌

2.60%,

10/01/2040

19,000‌

13,643‌

3.50%,

02/01/2025

10,000‌

9,744‌

3.65%,

03/01/2026

21,000‌

20,252‌

$

194,497‌

Chemicals

-

0

.74

%

Air

Liquide

Finance

SA

2.25%,

09/10/2029

(f)

24,000‌

20,711‌

Westlake

Corp

2.88%,

08/15/2041

15,000‌

9,930‌

3.38%,

06/15/2030

4,500‌

3,911‌

3.60%,

08/15/2026

43,000‌

40,630‌

$

75,182‌

Commercial

Services

-

0

.75

%

ERAC

USA

Finance

LLC

4.60%,

05/01/2028

(f)

38,500‌

37,560‌

7.00%,

10/15/2037

(f)

13,000‌

14,888‌

United

Rentals

North

America

Inc

6.00%,

12/15/2029

(f)

24,000‌

23,972‌

$

76,420‌

Computers

-

0

.99

%

Apple

Inc

1.13%,

05/11/2025

10,000‌

9,361‌

2.05%,

09/11/2026

30,000‌

27,744‌

2.38%,

02/08/2041

20,000‌

14,550‌

3.20%,

05/11/2027

13,000‌

12,419‌

3.25%,

02/23/2026

13,000‌

12,542‌

4.15%,

05/10/2030

24,500‌

24,182‌

$

100,798‌

Credit

Card

Asset

Backed

Securities

-

0

.94

%

BA

Credit

Card

Trust

0.34%,

05/15/2026

43,000‌

42,174‌

CARDS

II

Trust

0.60%,

04/15/2027

(f)

55,500‌

53,459‌

$

95,633‌

Diversified

Financial

Services

-

0

.58

%

Jefferies

Financial

Group

Inc

2.63%,

10/15/2031

30,000‌

23,463‌

2.75%,

10/15/2032

8,000‌

6,170‌

4.15%,

01/23/2030

19,000‌

17,321‌

4.85%,

01/15/2027

1,750‌

1,710‌

6.25%,

01/15/2036

10,325‌

10,540‌

$

59,204‌

Schedule

of

Investments

Core

Fixed

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

7

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

-

8

.24

%

AEP

Transmission

Co

LLC

3.15%,

09/15/2049

$

24,000‌

$

16,978‌

5.40%,

03/15/2053

23,000‌

23,708‌

Alabama

Power

Co

1.45%,

09/15/2030

25,000‌

19,735‌

3.13%,

07/15/2051

19,000‌

12,989‌

3.45%,

10/01/2049

42,000‌

30,876‌

Alliant

Energy

Finance

LLC

1.40%,

03/15/2026

(f)

4,500‌

3,996‌

American

Electric

Power

Co

Inc

1.00%,

11/01/2025

11,450‌

10,387‌

Berkshire

Hathaway

Energy

Co

2.85%,

05/15/2051

23,000‌

14,817‌

4.05%,

04/15/2025

10,000‌

9,783‌

Black

Hills

Corp

2.50%,

06/15/2030

15,000‌

12,430‌

3.05%,

10/15/2029

39,500‌

34,086‌

3.15%,

01/15/2027

7,500‌

6,967‌

4.35%,

05/01/2033

8,000‌

7,140‌

Dayton

Power

&

Light

Co/The

3.95%,

06/15/2049

14,000‌

10,851‌

Entergy

Corp

2.40%,

06/15/2031

24,000‌

19,395‌

Entergy

Louisiana

LLC

2.90%,

03/15/2051

18,500‌

12,007‌

3.25%,

04/01/2028

12,000‌

11,036‌

4.20%,

09/01/2048

31,000‌

25,624‌

Florida

Power

&

Light

Co

2.85%,

04/01/2025

3,000‌

2,892‌

2.88%,

12/04/2051

20,000‌

13,619‌

3.15%,

10/01/2049

25,000‌

17,968‌

5.05%,

04/01/2028

14,500‌

14,622‌

Interstate

Power

and

Light

Co

2.30%,

06/01/2030

9,500‌

7,871‌

3.50%,

09/30/2049

66,000‌

47,678‌

Louisville

Gas

and

Electric

Co

3.30%,

10/01/2025

3,000‌

2,881‌

Metropolitan

Edison

Co

4.30%,

01/15/2029

(f)

14,000‌

13,256‌

Monongahela

Power

Co

3.55%,

05/15/2027

(f)

20,000‌

18,751‌

Nevada

Power

Co

2.40%,

05/01/2030

20,500‌

17,192‌

NextEra

Energy

Capital

Holdings

Inc

2.75%,

11/01/2029

51,000‌

44,497‌

Northern

States

Power

Co/MN

2.90%,

03/01/2050

18,500‌

12,514‌

5.10%,

05/15/2053

28,500‌

27,870‌

Oncor

Electric

Delivery

Co

LLC

0.55%,

10/01/2025

13,000‌

11,787‌

2.70%,

11/15/2051

15,000‌

9,627‌

2.95%,

04/01/2025

7,000‌

6,713‌

3.10%,

09/15/2049

33,500‌

23,481‌

4.10%,

11/15/2048

5,000‌

4,160‌

5.75%,

03/15/2029

21,000‌

21,755‌

PacifiCorp

5.25%,

06/15/2035

5,750‌

5,504‌

5.35%,

12/01/2053

24,000‌

21,337‌

6.25%,

10/15/2037

2,500‌

2,559‌

PPL

Electric

Utilities

Corp

3.00%,

10/01/2049

17,000‌

11,801‌

5.25%,

05/15/2053

47,000‌

47,198‌

Public

Service

Co

of

Colorado

1.88%,

06/15/2031

11,500‌

9,124‌

3.20%,

03/01/2050

15,000‌

10,447‌

Solar

Star

Funding

LLC

3.95%,

06/30/2035

(f)

5,175‌

4,613‌

5.38%,

06/30/2035

(f)

18,578‌

17,968‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Southwestern

Electric

Power

Co

1.65%,

03/15/2026

$

24,000‌

$

21,824‌

2.75%,

10/01/2026

10,000‌

9,257‌

3.85%,

02/01/2048

12,500‌

9,393‌

Tucson

Electric

Power

Co

3.05%,

03/15/2025

2,000‌

1,921‌

3.25%,

05/01/2051

18,000‌

12,026‌

4.85%,

12/01/2048

7,000‌

6,161‌

Xcel

Energy

Inc

2.60%,

12/01/2029

32,000‌

27,517‌

3.50%,

12/01/2049

24,000‌

17,279‌

$

837,868‌

Electronics

-

0

.42

%

Keysight

Technologies

Inc

3.00%,

10/30/2029

48,000‌

42,266‌

Environmental

Control

-

0

.49

%

Republic

Services

Inc

1.75%,

02/15/2032

29,500‌

23,043‌

2.30%,

03/01/2030

16,500‌

14,081‌

3.20%,

03/15/2025

13,000‌

12,548‌

$

49,672‌

Food

-

0

.19

%

Kraft

Heinz

Foods

Co

3.75%,

04/01/2030

21,000‌

19,466‌

Gas

-

0

.38

%

NiSource

Inc

2.95%,

09/01/2029

29,000‌

25,782‌

3.60%,

05/01/2030

14,000‌

12,648‌

$

38,430‌

Healthcare

-

Services

-

0

.49

%

HCA

Inc

4.13%,

06/15/2029

14,000‌

12,988‌

5.63%,

09/01/2028

2,000‌

2,008‌

7.50%,

11/06/2033

1,950‌

2,138‌

UnitedHealth

Group

Inc

2.00%,

05/15/2030

9,000‌

7,556‌

2.88%,

08/15/2029

15,000‌

13,603‌

3.50%,

08/15/2039

14,000‌

11,649‌

$

49,942‌

Insurance

-

2

.46

%

Berkshire

Hathaway

Finance

Corp

1.45%,

10/15/2030

36,500‌

29,513‌

1.85%,

03/12/2030

8,000‌

6,766‌

2.50%,

01/15/2051

12,500‌

8,100‌

2.85%,

10/15/2050

30,500‌

20,949‌

Fidelity

National

Financial

Inc

3.40%,

06/15/2030

32,000‌

28,094‌

4.50%,

08/15/2028

39,500‌

37,440‌

First

American

Financial

Corp

2.40%,

08/15/2031

22,000‌

16,739‌

4.00%,

05/15/2030

28,000‌

24,490‌

4.60%,

11/15/2024

5,000‌

4,878‌

Five

Corners

Funding

Trust

4.42%,

11/15/2023

(f)

49,500‌

49,212‌

Prudential

Financial

Inc

2.10%,

03/10/2030

(i)

23,000‌

19,346‌

3.88%,

03/27/2028

4,550‌

4,373‌

$

249,900‌

Internet

-

0

.86

%

Amazon.com

Inc

2.80%,

08/22/2024

44,000‌

42,823‌

2.88%,

05/12/2041

20,000‌

15,286‌

4.05%,

08/22/2047

32,650‌

28,904‌

$

87,013‌

Schedule

of

Investments

Core

Fixed

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

8

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Lodging

-

0

.97

%

Choice

Hotels

International

Inc

3.70%,

12/01/2029

$

42,000‌

$

37,272‌

3.70%,

01/15/2031

11,000‌

9,502‌

Marriott

International

Inc/MD

2.75%,

10/15/2033

36,000‌

28,583‌

Travel

+

Leisure

Co

4.50%,

12/01/2029

(f)

26,500‌

22,773‌

$

98,130‌

Media

-

1

.80

%

Comcast

Corp

2.65%,

02/01/2030

33,000‌

28,874‌

3.30%,

02/01/2027

10,000‌

9,496‌

3.95%,

10/15/2025

15,000‌

14,645‌

4.25%,

10/15/2030

4,500‌

4,322‌

4.65%,

02/15/2033

30,000‌

29,626‌

6.45%,

03/15/2037

1,800‌

1,977‌

Discovery

Communications

LLC

3.63%,

05/15/2030

(i)

9,000‌

7,929‌

4.13%,

05/15/2029

22,000‌

20,208‌

5.30%,

05/15/2049

13,000‌

10,786‌

Time

Warner

Cable

LLC

6.55%,

05/01/2037

7,400‌

7,091‌

6.75%,

06/15/2039

6,000‌

5,783‌

7.30%,

07/01/2038

7,750‌

7,902‌

Walt

Disney

Co/The

2.00%,

09/01/2029

28,000‌

23,861‌

6.40%,

12/15/2035

8,900‌

9,913‌

$

182,413‌

Oil

&

Gas

-

0

.98

%

BP

Capital

Markets

America

Inc

3.12%,

05/04/2026

10,000‌

9,528‌

3.41%,

02/11/2026

13,000‌

12,546‌

3.94%,

09/21/2028

13,000‌

12,447‌

Canadian

Natural

Resources

Ltd

2.05%,

07/15/2025

9,000‌

8,424‌

3.80%,

04/15/2024

35,000‌

34,503‌

Marathon

Petroleum

Corp

5.13%,

12/15/2026

8,500‌

8,466‌

Phillips

66

1.30%,

02/15/2026

11,500‌

10,434‌

Suncor

Energy

Inc

4.00%,

11/15/2047

4,500‌

3,459‌

$

99,807‌

Oil

&

Gas

Services

-

0

.32

%

Schlumberger

Holdings

Corp

4.00%,

12/21/2025

(f)

33,000‌

31,988‌

Other

Asset

Backed

Securities

-

1

.81

%

PFS

Financing

Corp

0.71%,

04/15/2026

(f)

14,000‌

13,475‌

0.77%,

08/15/2026

(f)

39,000‌

36,932‌

5.67%,

02/15/2026

(f)

24,000‌

23,963‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.60%

Trafigura

Securitisation

Finance

PLC

2021-1

5.87%,

01/15/2025

(f)

37,500‌

36,741‌

1.00

x

1

Month

USD

LIBOR

+

0.53%

Verizon

Master

Trust

5.69%,

07/20/2027

28,000‌

27,992‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.62%

5.92%,

06/20/2029

43,500‌

43,677‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.85%

Verizon

Owner

Trust

2020-C

0.41%,

04/21/2025

1,534‌

1,522‌

$

184,302‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

-

0

.09

%

Sealed

Air

Corp

5.50%,

09/15/2025

(f)

$

2,000‌

$

1,970‌

6.88%,

07/15/2033

(f)

6,900‌

7,216‌

$

9,186‌

Pharmaceuticals

-

1

.02

%

Bristol-Myers

Squibb

Co

1.13%,

11/13/2027

12,500‌

10,904‌

1.45%,

11/13/2030

10,000‌

7,978‌

3.20%,

06/15/2026

13,124‌

12,547‌

3.40%,

07/26/2029

8,346‌

7,778‌

3.90%,

02/20/2028

10,500‌

10,158‌

CVS

Health

Corp

1.30%,

08/21/2027

14,000‌

12,089‌

3.00%,

08/15/2026

17,000‌

15,982‌

4.30%,

03/25/2028

5,046‌

4,887‌

5.05%,

03/25/2048

23,000‌

20,978‌

$

103,301‌

Pipelines

-

1

.45

%

Buckeye

Partners

LP

3.95%,

12/01/2026

10,500‌

9,634‌

4.35%,

10/15/2024

8,000‌

7,790‌

Columbia

Pipeline

Group

Inc

4.50%,

06/01/2025

11,900‌

11,673‌

El

Paso

Natural

Gas

Co

LLC

7.50%,

11/15/2026

11,400‌

12,165‌

NGPL

PipeCo

LLC

3.25%,

07/15/2031

(f)

15,000‌

12,354‌

4.88%,

08/15/2027

(f)

43,000‌

41,183‌

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp

4.50%,

12/15/2026

13,500‌

13,075‌

Southeast

Supply

Header

LLC

4.25%,

06/15/2024

(f)

14,650‌

13,789‌

Southern

Natural

Gas

Co

LLC

8.00%,

03/01/2032

4,750‌

5,454‌

Tennessee

Gas

Pipeline

Co

LLC

8.38%,

06/15/2032

2,000‌

2,292‌

TransCanada

PipeLines

Ltd

6.10%,

06/01/2040

7,000‌

7,124‌

7.25%,

08/15/2038

10,000‌

11,288‌

$

147,821‌

REITs

-

8

.36

%

Alexandria

Real

Estate

Equities

Inc

1.88%,

02/01/2033

13,000‌

9,559‌

2.00%,

05/18/2032

14,000‌

10,721‌

2.75%,

12/15/2029

14,500‌

12,316‌

3.38%,

08/15/2031

30,000‌

25,980‌

4.30%,

01/15/2026

9,900‌

9,564‌

4.75%,

04/15/2035

14,500‌

13,527‌

4.90%,

12/15/2030

4,250‌

4,167‌

American

Tower

Corp

1.88%,

10/15/2030

20,000‌

15,744‌

2.10%,

06/15/2030

3,000‌

2,423‌

2.40%,

03/15/2025

7,000‌

6,635‌

2.75%,

01/15/2027

53,000‌

48,524‌

2.95%,

01/15/2051

10,000‌

6,249‌

3.38%,

10/15/2026

5,000‌

4,703‌

American

Tower

Trust

#1

5.49%,

03/15/2028

(f)

14,000‌

14,013‌

CBL

&

Associates

LP

-

Escrow

0.00%,

12/15/2026

(d),(i),(j)

13,750‌

—‌

Crown

Castle

Inc

2.25%,

01/15/2031

13,000‌

10,571‌

2.90%,

04/01/2041

30,000‌

20,626‌

3.10%,

11/15/2029

8,000‌

7,005‌

4.00%,

11/15/2049

17,000‌

12,806‌

4.30%,

02/15/2029

13,000‌

12,280‌

5.00%,

01/11/2028

18,000‌

17,748‌

Schedule

of

Investments

Core

Fixed

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

9

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

REITs

(continued)

CubeSmart

LP

2.00%,

02/15/2031

$

26,000‌

$

20,325‌

3.00%,

02/15/2030

18,000‌

15,364‌

4.00%,

11/15/2025

5,000‌

4,736‌

4.38%,

02/15/2029

2,000‌

1,880‌

Healthcare

Realty

Holdings

LP

2.40%,

03/15/2030

9,000‌

7,160‌

3.63%,

01/15/2028

3,500‌

3,106‌

3.88%,

05/01/2025

5,000‌

4,705‌

Healthpeak

OP

LLC

2.88%,

01/15/2031

7,000‌

5,914‌

3.00%,

01/15/2030

50,000‌

43,512‌

5.25%,

12/15/2032

14,000‌

13,773‌

Omega

Healthcare

Investors

Inc

3.38%,

02/01/2031

46,000‌

36,955‌

3.63%,

10/01/2029

32,000‌

26,759‌

4.75%,

01/15/2028

7,000‌

6,543‌

5.25%,

01/15/2026

8,000‌

7,809‌

Physicians

Realty

LP

2.63%,

11/01/2031

32,000‌

24,945‌

4.30%,

03/15/2027

22,400‌

21,236‌

Prologis

LP

2.88%,

11/15/2029

12,500‌

10,984‌

3.25%,

06/30/2026

5,000‌

4,744‌

3.38%,

12/15/2027

25,000‌

23,425‌

SBA

Tower

Trust

1.63%,

05/15/2051

(f)

46,000‌

39,946‌

2.33%,

07/15/2052

(f)

10,000‌

8,602‌

2.59%,

10/15/2056

(f)

20,500‌

16,228‌

2.84%,

01/15/2050

(f)

30,000‌

28,576‌

Simon

Property

Group

LP

2.00%,

09/13/2024

32,000‌

30,731‌

STORE

Capital

Corp

2.75%,

11/18/2030

18,500‌

13,503‌

4.63%,

03/15/2029

33,500‌

28,523‌

Ventas

Realty

LP

3.00%,

01/15/2030

8,000‌

6,834‌

3.85%,

04/01/2027

21,000‌

19,684‌

Welltower

OP

LLC

2.70%,

02/15/2027

12,000‌

11,037‌

2.75%,

01/15/2031

7,000‌

5,823‌

3.10%,

01/15/2030

(i)

23,000‌

20,062‌

4.13%,

03/15/2029

6,000‌

5,597‌

4.25%,

04/15/2028

4,000‌

3,797‌

4.50%,

01/15/2024

5,000‌

4,956‌

Weyerhaeuser

Co

7.38%,

03/15/2032

11,281‌

12,730‌

WP

Carey

Inc

2.40%,

02/01/2031

21,000‌

16,910‌

3.85%,

07/15/2029

30,000‌

27,147‌

$

849,722‌

Semiconductors

-

0

.39

%

NVIDIA

Corp

2.00%,

06/15/2031

19,000‌

15,854‌

2.85%,

04/01/2030

14,000‌

12,657‌

3.50%,

04/01/2040

13,000‌

11,062‌

$

39,573‌

Software

-

0

.24

%

Oracle

Corp

2.95%,

05/15/2025

25,900‌

24,810‌

Telecommunications

-

1

.50

%

Corning

Inc

4.75%,

03/15/2042

4,650‌

4,207‌

5.45%,

11/15/2079

43,500‌

39,935‌

Crown

Castle

Towers

LLC

4.24%,

07/15/2048

(f)

16,000‌

14,821‌

Sprint

LLC

7.88%,

09/15/2023

7,750‌

7,756‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

Sprint

Spectrum

Co

LLC

/

Sprint

Spectrum

Co

II

LLC

/

Sprint

Spectrum

Co

III

LLC

5.15%,

03/20/2028

(f)

$

32,775‌

$

32,436‌

T-Mobile

USA

Inc

2.05%,

02/15/2028

10,000‌

8,723‌

2.55%,

02/15/2031

20,000‌

16,620‌

3.00%,

02/15/2041

39,000‌

28,242‌

$

152,740‌

Transportation

-

0

.70

%

Ryder

System

Inc

2.90%,

12/01/2026

51,000‌

46,799‌

3.35%,

09/01/2025

25,000‌

23,877‌

$

70,676‌

Trucking

&

Leasing

-

0

.98

%

Penske

Truck

Leasing

Co

Lp

/

PTL

Finance

Corp

1.20%,

11/15/2025

(f)

22,000‌

19,736‌

1.70%,

06/15/2026

(f)

39,000‌

34,625‌

2.70%,

11/01/2024

(f)

28,000‌

26,834‌

3.45%,

07/01/2024

(f)

9,000‌

8,796‌

5.70%,

02/01/2028

(f)

10,000‌

9,900‌

$

99,891‌

TOTAL

BONDS

$

5,375,676‌

SENIOR

FLOATING

RATE

INTERESTS

-

0

.08

%

Principal

Amount

(000's)

Value

(000's)

Pipelines

-

0

.08

%

BCP

Renaissance

Parent

LLC

8.74%,

10/31/2026

(k)

$

8,371‌

$

8,347‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.50%

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

8,347‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

42

.86

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

0

.30

%

3.00%,

10/01/2042

$

4,279‌

$

3,844‌

3.00%,

11/01/2042

4,512‌

4,054‌

3.00%,

06/01/2043

4,204‌

3,777‌

3.00%,

12/01/2046

7,143‌

6,364‌

3.00%,

07/01/2047

5,160‌

4,593‌

3.50%,

03/01/2048

7,972‌

7,371‌

$

30,003‌

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

21

.75

%

2.00%,

10/01/2050

36,522‌

29,992‌

2.00%,

11/01/2050

35,917‌

29,546‌

2.00%,

12/01/2050

41,584‌

33,920‌

2.00%,

12/01/2050

41,868‌

34,143‌

2.50%,

09/01/2050

36,482‌

31,002‌

2.50%,

10/01/2050

37,415‌

31,738‌

2.50%,

10/01/2050

36,350‌

30,839‌

2.50%,

10/01/2050

36,607‌

31,058‌

2.50%,

11/01/2050

35,211‌

29,923‌

2.50%,

11/01/2050

37,623‌

31,966‌

2.50%,

11/01/2050

37,615‌

31,957‌

2.50%,

11/01/2050

36,244‌

30,946‌

2.50%,

11/01/2050

36,602‌

31,052‌

3.00%,

06/01/2042

14,205‌

12,749‌

3.00%,

08/01/2049

17,940‌

15,879‌

3.00%,

09/01/2049

13,292‌

11,721‌

3.00%,

10/01/2049

17,369‌

15,337‌

3.00%,

10/01/2049

14,076‌

12,431‌

3.00%,

10/01/2049

19,920‌

17,588‌

3.00%,

11/01/2049

16,164‌

14,268‌

3.00%,

11/01/2049

20,419‌

18,028‌

3.00%,

11/01/2049

13,345‌

11,846‌

3.00%,

03/01/2050

20,097‌

17,744‌

3.00%,

04/01/2050

21,841‌

19,274‌

3.00%,

09/01/2050

23,928‌

21,080‌

Schedule

of

Investments

Core

Fixed

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

10

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.00%,

05/01/2052

$

18,565‌

$

16,406‌

3.50%,

06/01/2045

5,414‌

5,010‌

3.50%,

06/01/2046

14,608‌

13,590‌

3.50%,

08/01/2047

7,922‌

7,269‌

3.50%,

09/01/2047

33,815‌

30,780‌

3.50%,

12/01/2047

8,294‌

7,610‌

3.50%,

06/01/2049

30,866‌

28,323‌

3.50%,

07/01/2049

11,246‌

10,311‌

3.50%,

09/01/2049

9,272‌

8,499‌

3.50%,

09/01/2049

29,887‌

27,434‌

3.50%,

09/01/2049

9,417‌

8,634‌

3.50%,

11/01/2049

12,764‌

11,697‌

3.50%,

11/01/2049

14,323‌

13,259‌

3.50%,

12/01/2049

14,495‌

13,279‌

3.50%,

01/01/2050

40,739‌

37,394‌

3.50%,

02/01/2050

24,578‌

22,504‌

3.50%,

06/01/2050

24,351‌

22,332‌

3.50%,

08/01/2050

33,135‌

30,401‌

3.50%,

10/01/2050

31,807‌

29,024‌

3.50%,

01/01/2051

23,188‌

21,225‌

3.50%,

01/01/2051

33,379‌

30,623‌

3.50%,

04/01/2052

51,617‌

46,972‌

3.50%,

04/01/2052

37,283‌

33,861‌

4.00%,

11/01/2043

3,946‌

3,783‌

4.00%,

02/01/2044

8,834‌

8,448‌

4.00%,

09/01/2045

6,180‌

5,873‌

4.00%,

06/01/2046

12,253‌

11,711‌

4.00%,

10/01/2047

32,143‌

30,482‌

4.00%,

10/01/2048

9,356‌

8,874‌

4.00%,

03/01/2049

26,423‌

25,034‌

4.00%,

04/01/2049

29,207‌

27,661‌

4.00%,

06/01/2049

45,019‌

42,697‌

4.00%,

07/01/2049

6,833‌

6,474‌

4.00%,

08/01/2049

32,286‌

30,628‌

4.00%,

09/01/2049

5,932‌

5,653‌

4.00%,

10/01/2049

15,173‌

14,364‌

4.00%,

12/01/2049

25,246‌

24,074‌

4.00%,

01/01/2050

21,155‌

20,022‌

4.00%,

07/01/2050

46,584‌

44,181‌

4.00%,

02/01/2052

46,913‌

44,039‌

4.00%,

02/01/2052

41,107‌

38,422‌

4.00%,

02/01/2052

39,208‌

36,636‌

4.00%,

05/01/2052

46,817‌

43,839‌

4.00%,

05/01/2052

44,472‌

41,522‌

4.00%,

06/01/2052

38,661‌

36,266‌

4.50%,

06/01/2046

14,425‌

14,185‌

4.50%,

02/01/2049

6,695‌

6,515‌

4.50%,

07/01/2052

18,988‌

18,220‌

4.50%,

08/01/2052

39,671‌

38,396‌

4.50%,

08/01/2052

40,347‌

38,764‌

4.50%,

09/01/2052

41,056‌

39,737‌

4.50%,

09/01/2052

39,336‌

37,744‌

4.50%,

09/01/2052

39,851‌

38,287‌

4.50%,

10/01/2052

39,646‌

38,189‌

4.50%,

10/01/2052

25,088‌

24,066‌

4.50%,

11/01/2052

41,099‌

39,397‌

4.50%,

02/01/2053

39,155‌

37,496‌

5.00%,

10/01/2052

38,492‌

37,766‌

5.00%,

10/01/2052

24,270‌

23,811‌

5.00%,

02/01/2053

39,094‌

38,489‌

5.00%,

03/01/2053

40,285‌

39,524‌

5.00%,

07/01/2053

40,000‌

39,357‌

5.50%,

02/01/2053

38,142‌

38,104‌

$

2,211,194‌

Government

National

Mortgage

Association

(GNMA)

-

0

.12

%

3.00%,

02/20/2046

13,424‌

12,184‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

U.S.

Treasury

-

20

.69

%

0.63%,

08/15/2030

$

40,000‌

$

31,716‌

0.88%,

11/15/2030

40,000‌

32,223‌

1.13%,

02/28/2025

40,000‌

37,592‌

1.13%,

02/28/2027

40,000‌

35,747‌

1.13%,

02/15/2031

45,000‌

36,803‌

1.13%,

08/15/2040

55,000‌

34,581‌

1.25%,

08/31/2024

40,000‌

38,275‌

1.25%,

08/15/2031

45,000‌

36,654‌

1.25%,

05/15/2050

65,000‌

35,435‌

1.38%,

08/31/2023

40,000‌

39,870‌

1.38%,

11/15/2031

45,000‌

36,819‌

1.38%,

08/15/2050

65,000‌

36,629‌

1.50%,

08/15/2026

40,000‌

36,620‌

1.50%,

02/15/2030

40,000‌

34,117‌

1.63%,

02/15/2026

40,000‌

37,117‌

1.63%,

08/15/2029

40,000‌

34,781‌

1.63%,

11/15/2050

60,000‌

36,143‌

1.75%,

11/15/2029

40,000‌

34,955‌

1.75%,

08/15/2041

50,000‌

34,467‌

1.88%,

02/15/2032

45,000‌

38,217‌

1.88%,

02/15/2051

55,000‌

35,322‌

1.88%,

11/15/2051

55,000‌

35,189‌

2.00%,

11/15/2026

40,000‌

37,033‌

2.00%,

02/15/2050

55,000‌

36,616‌

2.00%,

08/15/2051

55,000‌

36,364‌

2.13%,

05/15/2025

40,000‌

38,042‌

2.25%,

11/15/2024

40,000‌

38,500‌

2.25%,

08/15/2027

40,000‌

36,970‌

2.25%,

11/15/2027

40,000‌

36,844‌

2.25%,

08/15/2046

50,000‌

35,566‌

2.25%,

08/15/2049

50,000‌

35,301‌

2.25%,

02/15/2052

50,000‌

35,076‌

2.38%,

02/29/2024

40,000‌

39,313‌

2.38%,

11/15/2049

40,000‌

29,022‌

2.38%,

05/15/2051

50,000‌

36,094‌

2.63%,

02/15/2029

40,000‌

36,966‌

2.75%,

11/15/2023

40,000‌

39,700‌

2.75%,

02/15/2028

40,000‌

37,556‌

2.75%,

08/15/2032

40,000‌

36,314‌

2.75%,

08/15/2042

40,000‌

32,305‌

2.75%,

08/15/2047

45,000‌

35,223‌

2.88%,

08/15/2028

40,000‌

37,634‌

2.88%,

05/15/2032

40,000‌

36,744‌

2.88%,

05/15/2049

45,000‌

36,171‌

2.88%,

05/15/2052

45,000‌

36,237‌

3.00%,

09/30/2025

40,000‌

38,514‌

3.00%,

11/15/2045

45,000‌

37,020‌

3.00%,

08/15/2048

45,000‌

36,925‌

3.00%,

08/15/2052

45,000‌

37,185‌

3.13%,

11/15/2028

40,000‌

38,025‌

3.38%,

05/15/2033

40,000‌

38,156‌

3.50%,

02/15/2033

40,000‌

38,550‌

3.63%,

02/15/2044

40,000‌

36,666‌

3.63%,

02/15/2053

40,000‌

37,306‌

3.63%,

05/15/2053

30,000‌

28,027‌

3.75%,

11/15/2043

40,000‌

37,384‌

4.00%,

11/15/2052

40,000‌

39,962‌

4.13%,

11/15/2032

35,000‌

35,405‌

$

2,103,988‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

4,357,369‌

Total

Investments

$

10,092,279‌

Other

Assets

and

Liabilities

-  0.74%

75,334‌

TOTAL

NET

ASSETS

-

100.00%

$

10,167,613‌

Schedule

of

Investments

Core

Fixed

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

11

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,636

or

0.05%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(e)

Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

(f)

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

$822,559

or

8.09%

of

net

assets.

(g)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(h)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(i)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,385

or

0.04%

of

net

assets.

(j)

Non-income

producing

security

(k)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

Portfolio

Summary

Sector

Percent

Mortgage

Securities

22

.17‌

%

Financial

20

.81‌

%

Government

20

.69‌

%

Utilities

8

.62‌

%

Consumer,

Non-cyclical

4

.89‌

%

Asset

Backed

Securities

4

.63‌

%

Communications

4

.16‌

%

Money

Market

Funds

3

.24‌

%

Industrial

2

.89‌

%

Energy

2

.83‌

%

Consumer,

Cyclical

1

.97‌

%

Technology

1

.62‌

%

Basic

Materials

0

.74‌

%

Other

Assets

and

Liabilities

0

.74‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

1,639,883‌

$

1,314,884‌

$

324,999‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

239,007‌

379,839‌

618,846‌

—‌

$

239,007‌

$

2,019,722‌

$

1,933,730‌

$

324,999‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

10,731‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

1,238‌

—‌

—‌

—‌

$

11,969‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Trailer

Bridge

Inc

05/07/2012-05/28/2019

$

21,314‌

$

21,252‌

0.21%

Total

$

21,252‌

0.21%

Amounts

in

thousands.

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

12

INVESTMENT

COMPANIES

-

3

.53

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

3

.53

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

8,970,887‌

$

8,971‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

12,375,960‌

12,376‌

$

21,347‌

TOTAL

INVESTMENT

COMPANIES

$

21,347‌

COMMON

STOCKS

-

0

.02

%

Shares

Held

Value

(000's)

Diversified

Financial

Services

-

0

.00

%

Avation

PLC

-

Warrants

(d)

3,500‌

$

—‌

Oil

&

Gas

-

0

.01

%

Mesquite

Energy

Inc

(d),(e)

407‌

29‌

Retail

-

0

.01

%

Claire's

Holdings

LLC

(d)

232‌

78‌

TOTAL

COMMON

STOCKS

$

107‌

PREFERRED

STOCKS

-

0

.56

%

Shares

Held

Value

(000's)

Sovereign

-

0

.56

%

CoBank

ACB

6.20%,

01/01/2025

(f)

35,000‌

$

3,378‌

3

Month

USD

LIBOR

+

3.74%

TOTAL

PREFERRED

STOCKS

$

3,378‌

BONDS

-

50

.53

%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

1

.61

%

Boeing

Co/The

1.95%,

02/01/2024

$

3,190‌

$

3,126‌

2.20%,

02/04/2026

1,780‌

1,643‌

3.75%,

02/01/2050

625‌

475‌

4.88%,

05/01/2025

845‌

834‌

Bombardier

Inc

7.13%,

06/15/2026

(g)

80‌

79‌

HEICO

Corp

5.25%,

08/01/2028

475‌

474‌

Lockheed

Martin

Corp

5.70%,

11/15/2054

455‌

499‌

RTX

Corp

4.13%,

11/16/2028

1,700‌

1,632‌

TransDigm

Inc

4.88%,

05/01/2029

120‌

108‌

6.25%,

03/15/2026

(g)

20‌

20‌

7.50%,

03/15/2027

165‌

165‌

Triumph

Group

Inc

7.75%,

08/15/2025

165‌

159‌

9.00%,

03/15/2028

(g)

495‌

508‌

$

9,722‌

Agriculture

-

0

.34

%

BAT

Capital

Corp

7.08%,

08/02/2053

(h)

140‌

142‌

BAT

International

Finance

PLC

5.93%,

02/02/2029

(h)

465‌

465‌

Cargill

Inc

4.88%,

10/10/2025

(g)

865‌

860‌

Reynolds

American

Inc

5.70%,

08/15/2035

635‌

599‌

$

2,066‌

Airlines

-

0

.28

%

American

Airlines

2021-1

Class

B

Pass

Through

Trust

3.95%,

01/11/2032

27‌

24‌

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.75%,

04/20/2029

(g)

40‌

39‌

Delta

Air

Lines

Inc

/

SkyMiles

IP

Ltd

4.50%,

10/20/2025

(g)

643‌

630‌

Hawaiian

Brand

Intellectual

Property

Ltd

/

HawaiianMiles

Loyalty

Ltd

5.75%,

01/20/2026

(g)

325‌

307‌

Southwest

Airlines

Co

5.25%,

05/04/2025

605‌

601‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Airlines

(continued)

United

Airlines

Inc

4.38%,

04/15/2026

(g)

$

75‌

$

71‌

$

1,672‌

Automobile

Asset

Backed

Securities

-

6

.70

%

Ally

Auto

Receivables

Trust

2022-2

4.62%,

10/15/2025

1,854‌

1,847‌

Ally

Auto

Receivables

Trust

2023-1

5.46%,

05/15/2028

1,360‌

1,370‌

AmeriCredit

Automobile

Receivables

Trust

2022-2

6.22%,

12/18/2025

1,380‌

1,383‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

1.15%

Americredit

Automobile

Receivables

Trust

2023-1

5.84%,

10/19/2026

2,600‌

2,599‌

BMW

Vehicle

Owner

Trust

2023-A

5.47%,

02/25/2028

1,760‌

1,767‌

Capital

One

Prime

Auto

Receivables

Trust

2022-1

2.71%,

06/16/2025

782‌

775‌

Carmax

Auto

Owner

Trust

2020-1

1.89%,

12/16/2024

228‌

227‌

CarMax

Auto

Owner

Trust

2022-1

0.91%,

02/18/2025

146‌

146‌

Carmax

Auto

Owner

Trust

2023-2

5.50%,

06/15/2026

1,400‌

1,396‌

Carvana

Auto

Receivables

Trust

2021-P4

0.82%,

04/10/2025

11‌

11‌

Ford

Credit

Auto

Owner

Trust

2022-C

5.59%,

04/15/2025

1,734‌

1,734‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.52%

Ford

Credit

Auto

Owner

Trust

2023-A

5.14%,

03/15/2026

2,050‌

2,041‌

Ford

Credit

Auto

Owner

Trust

2023-B

5.23%,

05/15/2028

3,850‌

3,853‌

GM

Financial

Automobile

Leasing

Trust

2023-1

5.27%,

06/20/2025

1,035‌

1,032‌

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-1

5.19%,

03/16/2026

905‌

902‌

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-2

5.10%,

05/18/2026

1,220‌

1,214‌

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-3

5.45%,

06/16/2028

790‌

792‌

GMF

Floorplan

Owner

Revolving

Trust

5.34%,

06/15/2028

(g)

1,790‌

1,790‌

Hyundai

Auto

Lease

Securitization

Trust

2022-B

5.69%,

10/15/2024

(g)

469‌

469‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.62%

Hyundai

Auto

Receivables

Trust

2023-A

5.19%,

12/15/2025

1,350‌

1,345‌

Nissan

Auto

Lease

Trust

2023-B

5.69%,

07/15/2026

1,700‌

1,704‌

Nissan

Auto

Receivables

2022-B

Owner

Trust

4.50%,

08/15/2025

1,714‌

1,704‌

Santander

Drive

Auto

Receivables

Trust

2022-6

4.37%,

05/15/2025

702‌

701‌

Santander

Drive

Auto

Receivables

Trust

2022-7

5.81%,

01/15/2026

875‌

874‌

Santander

Drive

Auto

Receivables

Trust

2023-1

5.36%,

05/15/2026

1,786‌

1,782‌

Santander

Drive

Auto

Receivables

Trust

2023-3

5.61%,

10/15/2027

3,530‌

3,522‌

Toyota

Auto

Loan

Extended

Note

Trust

2019-1

2.56%,

11/25/2031

(g)

2,465‌

2,402‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

13

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Asset

Backed

Securities

(continued)

Toyota

Auto

Receivables

2022-B

Owner

Trust

5.56%,

01/15/2025

$

511‌

$

511‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.49%

World

Omni

Auto

Receivables

Trust

2021-A

0.30%,

01/15/2026

636‌

618‌

$

40,511‌

Automobile

Manufacturers

-

0

.56

%

Ford

Motor

Co

3.25%,

02/12/2032

530‌

419‌

9.63%,

04/22/2030

20‌

23‌

Ford

Motor

Credit

Co

LLC

3.38%,

11/13/2025

470‌

440‌

General

Motors

Financial

Co

Inc

1.20%,

10/15/2024

475‌

450‌

1.25%,

01/08/2026

1,100‌

991‌

Mercedes-Benz

Finance

North

America

LLC

4.80%,

03/30/2028

(g)

1,100‌

1,088‌

$

3,411‌

Automobile

Parts

&

Equipment

-

0

.02

%

Dana

Inc

5.38%,

11/15/2027

155‌

148‌

Banks

-

8

.46

%

Banco

Santander

SA

2.75%,

05/28/2025

1,600‌

1,514‌

Bank

of

America

Corp

1.66%,

03/11/2027

(i)

1,250‌

1,127‌

Secured

Overnight

Financing

Rate

+

0.91%

2.48%,

09/21/2036

(i)

2,600‌

1,993‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.20%

2.68%,

06/19/2041

(i)

1,635‌

1,158‌

Secured

Overnight

Financing

Rate

+

1.93%

2.69%,

04/22/2032

(i)

861‌

713‌

Secured

Overnight

Financing

Rate

+

1.32%

3.85%,

03/08/2037

(i)

200‌

172‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.00%

4.18%,

11/25/2027

750‌

715‌

4.20%,

08/26/2024

435‌

428‌

4.83%,

07/22/2026

(i)

1,000‌

987‌

Secured

Overnight

Financing

Rate

+

1.75%

Bank

of

New

York

Mellon

Corp/The

4.97%,

04/26/2034

(i)

875‌

852‌

Secured

Overnight

Financing

Rate

+

1.61%

Barclays

PLC

2.28%,

11/24/2027

(i)

500‌

445‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.05%

2.85%,

05/07/2026

(i)

1,100‌

1,038‌

Secured

Overnight

Financing

Rate

+

2.71%

5.20%,

05/12/2026

500‌

487‌

7.75%,

09/15/2023

(f),(i),(j)

505‌

503‌

USD

Swap

Semi-Annual

5

Year

+

4.84%

BNP

Paribas

SA

2.22%,

06/09/2026

(g),(i)

800‌

748‌

Secured

Overnight

Financing

Rate

+

2.07%

Citigroup

Inc

3.11%,

04/08/2026

(i)

1,125‌

1,077‌

Secured

Overnight

Financing

Rate

+

2.84%

3.20%,

10/21/2026

650‌

609‌

3.79%,

03/17/2033

(i)

1,275‌

1,127‌

Secured

Overnight

Financing

Rate

+

1.94%

5.61%,

09/29/2026

(i)

1,195‌

1,192‌

Secured

Overnight

Financing

Rate

+

1.55%

6.27%,

11/17/2033

(i)

1,350‌

1,433‌

Secured

Overnight

Financing

Rate

+

2.34%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Credit

Suisse

AG/New

York

NY

2.95%,

04/09/2025

$

2,585‌

$

2,446‌

Deutsche

Bank

AG/New

York

NY

2.22%,

09/18/2024

(i)

1,700‌

1,688‌

Secured

Overnight

Financing

Rate

+

2.16%

Goldman

Sachs

Group

Inc/The

3.63%,

02/20/2024

1,425‌

1,408‌

3.85%,

01/26/2027

2,403‌

2,293‌

5.70%,

11/01/2024

315‌

315‌

HSBC

Holdings

PLC

4.25%,

03/14/2024

840‌

830‌

JPMorgan

Chase

&

Co

2.08%,

04/22/2026

(i)

1,435‌

1,349‌

Secured

Overnight

Financing

Rate

+

1.85%

4.60%,

02/01/2025

(f),(i)

390‌

369‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.13%

4.91%,

07/25/2033

(i)

2,055‌

2,008‌

Secured

Overnight

Financing

Rate

+

2.08%

5.35%,

06/01/2034

(i)

500‌

504‌

Secured

Overnight

Financing

Rate

+

1.85%

KeyBank

NA/Cleveland

OH

4.15%,

08/08/2025

250‌

239‌

Lloyds

Banking

Group

PLC

3.87%,

07/09/2025

(i)

1,900‌

1,859‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

3.50%

Morgan

Stanley

0.99%,

12/10/2026

(i)

4,490‌

4,017‌

Secured

Overnight

Financing

Rate

+

0.72%

2.48%,

09/16/2036

(i)

1,140‌

874‌

Secured

Overnight

Financing

Rate

+

1.36%

4.35%,

09/08/2026

2,000‌

1,933‌

5.00%,

11/24/2025

995‌

983‌

Popular

Inc

6.13%,

09/14/2023

145‌

145‌

Santander

UK

Group

Holdings

PLC

1.09%,

03/15/2025

(i)

1,175‌

1,132‌

Secured

Overnight

Financing

Rate

+

0.79%

Standard

Chartered

PLC

2.82%,

01/30/2026

(g),(i)

430‌

408‌

3

Month

USD

LIBOR

+

1.21%

State

Street

Corp

4.82%,

01/26/2034

(i)

270‌

260‌

Secured

Overnight

Financing

Rate

+

1.57%

Toronto-Dominion

Bank/The

4.69%,

09/15/2027

1,000‌

981‌

Truist

Financial

Corp

5.90%,

10/28/2026

(i)

560‌

559‌

Secured

Overnight

Financing

Rate

+

1.63%

UBS

Group

AG

1.36%,

01/30/2027

(g),(i)

460‌

408‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.08%

2.19%,

06/05/2026

(g),(i)

750‌

696‌

Secured

Overnight

Financing

Rate

+

2.04%

4.75%,

05/12/2028

(g),(i)

320‌

307‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.75%

UniCredit

SpA

1.98%,

06/03/2027

(g),(i)

600‌

532‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.20%

Wells

Fargo

&

Co

3.75%,

01/24/2024

500‌

495‌

4.61%,

04/25/2053

(i)

985‌

865‌

Secured

Overnight

Financing

Rate

+

2.13%

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

14

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Wells

Fargo

&

Co  

(continued)

4.90%,

07/25/2033

(i)

$

45‌

$

43‌

Secured

Overnight

Financing

Rate

+

2.10%

5.56%,

07/25/2034

(i)

675‌

678‌

Secured

Overnight

Financing

Rate

+

1.99%

5.57%,

07/25/2029

(i)

325‌

327‌

Secured

Overnight

Financing

Rate

+

1.74%

Westpac

Banking

Corp

4.11%,

07/24/2034

(i)

125‌

110‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.00%

4.42%,

07/24/2039

2,160‌

1,784‌

$

51,163‌

Beverages

-

0

.96

%

Anheuser-Busch

InBev

Worldwide

Inc

4.38%,

04/15/2038

1,260‌

1,168‌

4.60%,

04/15/2048

955‌

873‌

Central

American

Bottling

Corp

/

CBC

Bottling

Holdco

SL

/

Beliv

Holdco

SL

5.25%,

04/27/2029

(g)

215‌

198‌

Coca-Cola

Icecek

AS

4.50%,

01/20/2029

(g)

450‌

405‌

Constellation

Brands

Inc

3.70%,

12/06/2026

1,140‌

1,091‌

4.75%,

05/09/2032

955‌

923‌

PepsiCo

Inc

1.95%,

10/21/2031

500‌

412‌

4.20%,

07/18/2052

140‌

130‌

4.45%,

02/15/2033

(k)

600‌

602‌

$

5,802‌

Biotechnology

-

0

.38

%

Amgen

Inc

5.15%,

03/02/2028

530‌

530‌

5.25%,

03/02/2030

490‌

493‌

5.60%,

03/02/2043

290‌

289‌

CSL

Finance

PLC

4.75%,

04/27/2052

(g)

1,040‌

959‌

$

2,271‌

Building

Materials

-

0

.35

%

Builders

FirstSource

Inc

4.25%,

02/01/2032

(g)

375‌

326‌

Cemex

SAB

de

CV

3.88%,

07/11/2031

(g)

350‌

302‌

9.13%,

03/14/2028

(f),(g),(i)

525‌

546‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.91%

GCC

SAB

de

CV

3.61%,

04/20/2032

(g)

300‌

255‌

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(g)

699‌

666‌

$

2,095‌

Chemicals

-

0

.52

%

Consolidated

Energy

Finance

SA

5.63%,

10/15/2028

(g)

365‌

315‌

6.50%,

05/15/2026

(g)

150‌

142‌

Ecolab

Inc

2.70%,

12/15/2051

1,070‌

699‌

Element

Solutions

Inc

3.88%,

09/01/2028

(g)

317‌

280‌

MEGlobal

Canada

ULC

5.88%,

05/18/2030

350‌

355‌

Olympus

Water

US

Holding

Corp

4.25%,

10/01/2028

(g)

375‌

301‌

Sasol

Financing

USA

LLC

8.75%,

05/03/2029

(g)

775‌

775‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Chemicals

(continued)

Sherwin-Williams

Co/The

4.25%,

08/08/2025

$

300‌

$

294‌

$

3,161‌

Commercial

Mortgage

Backed

Securities

-

1

.27

%

Benchmark

2021-B25

Mortgage

Trust

2.58%,

04/15/2054

500‌

398‌

Citigroup

Commercial

Mortgage

Trust

2019-C7

3.10%,

12/15/2072

1,500‌

1,304‌

COMM

2013-CCRE6

Mortgage

Trust

3.86%,

03/10/2046

(g),(l)

464‌

330‌

GS

Mortgage

Securities

Trust

2013-GC16

5.33%,

11/10/2046

(l)

800‌

768‌

GS

Mortgage

Securities

Trust

2020-GSA2

2.01%,

12/12/2053

3,600‌

2,812‌

JPMBB

Commercial

Mortgage

Securities

Trust

2014-C19

0.56%,

04/15/2047

(l),(m)

13,899‌

33‌

JPMBB

Commercial

Mortgage

Securities

Trust

2014-C24

0.85%,

11/15/2047

(l),(m)

6,725‌

41‌

LB-UBS

Commercial

Mortgage

Trust

2005-C3

0.57%,

07/15/2040

(g),(l),(m)

956‌

—‌

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2013-C11

0.21%,

08/15/2046

(l),(m)

4,064‌

—‌

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2014-C16

0.87%,

06/15/2047

(l),(m)

14,745‌

38‌

SREIT

Trust

2021-MFP

6.07%,

11/15/2038

(g)

1,000‌

980‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.85%

SREIT

Trust

2021-MFP2

6.16%,

11/15/2036

(g)

1,000‌

981‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.94%

$

7,685‌

Commercial

Services

-

0

.64

%

Albion

Financing

1

SARL

/

Aggreko

Holdings

Inc

6.13%,

10/15/2026

(g)

395‌

372‌

DP

World

Ltd/United

Arab

Emirates

6.85%,

07/02/2037

300‌

329‌

Garda

World

Security

Corp

4.63%,

02/15/2027

(g)

130‌

120‌

PayPal

Holdings

Inc

3.25%,

06/01/2050

900‌

649‌

3.90%,

06/01/2027

(k)

800‌

775‌

Prime

Security

Services

Borrower

LLC

/

Prime

Finance

Inc

3.38%,

08/31/2027

(g)

225‌

199‌

6.25%,

01/15/2028

(g)

190‌

179‌

United

Rentals

North

America

Inc

3.88%,

02/15/2031

125‌

108‌

4.88%,

01/15/2028

249‌

237‌

WASH

Multifamily

Acquisition

Inc

5.75%,

04/15/2026

(g)

505‌

470‌

Williams

Scotsman

International

Inc

6.13%,

06/15/2025

(g)

201‌

200‌

ZipRecruiter

Inc

5.00%,

01/15/2030

(g)

300‌

256‌

$

3,894‌

Computers

-

0

.52

%

Apple

Inc

4.65%,

02/23/2046

1,000‌

981‌

Dell

International

LLC

/

EMC

Corp

3.38%,

12/15/2041

(g)

350‌

249‌

6.10%,

07/15/2027

1,220‌

1,257‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

15

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Computers

(continued)

NCR

Corp

5.13%,

04/15/2029

(g)

$

370‌

$

331‌

Seagate

HDD

Cayman

8.50%,

07/15/2031

(g)

25‌

26‌

9.63%,

12/01/2032

(g)

259‌

287‌

$

3,131‌

Consumer

Products

-

0

.07

%

Kronos

Acquisition

Holdings

Inc

/

KIK

Custom

Products

Inc

5.00%,

12/31/2026

(g)

465‌

432‌

Credit

Card

Asset

Backed

Securities

-

0

.85

%

BA

Credit

Card

Trust

0.34%,

05/15/2026

2,185‌

2,143‌

Discover

Card

Execution

Note

Trust

4.93%,

06/15/2028

3,020‌

3,010‌

$

5,153‌

Diversified

Financial

Services

-

2

.03

%

AerCap

Holdings

NV

5.88%,

10/10/2079

(i)

355‌

343‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.54%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

2.45%,

10/29/2026

1,275‌

1,147‌

3.00%,

10/29/2028

1,345‌

1,174‌

3.15%,

02/15/2024

2,825‌

2,780‌

4.50%,

09/15/2023

196‌

196‌

Air

Lease

Corp

1.88%,

08/15/2026

1,325‌

1,187‌

2.88%,

01/15/2026

1,195‌

1,118‌

Ally

Financial

Inc

5.80%,

05/01/2025

505‌

498‌

Aviation

Capital

Group

LLC

1.95%,

09/20/2026

(g)

1,850‌

1,620‌

Credit

Acceptance

Corp

5.13%,

12/31/2024

(g)

285‌

279‌

6.63%,

03/15/2026

(k)

350‌

343‌

Global

Aircraft

Leasing

Co

Ltd

6.50%,

PIK

7.25%;

09/15/2024

(g),(l),(n)

382‌

360‌

ILFC

E-Capital

Trust

II

7.31%,

12/21/2065

(g),(l)

155‌

111‌

LPL

Holdings

Inc

4.00%,

03/15/2029

(g)

10‌

9‌

Macquarie

Airfinance

Holdings

Ltd

8.38%,

05/01/2028

(g)

230‌

234‌

OneMain

Finance

Corp

3.50%,

01/15/2027

145‌

125‌

4.00%,

09/15/2030

65‌

51‌

6.63%,

01/15/2028

70‌

66‌

6.88%,

03/15/2025

395‌

394‌

SLM

Corp

3.13%,

11/02/2026

290‌

255‌

$

12,290‌

Electric

-

2

.74

%

Abu

Dhabi

National

Energy

Co

PJSC

4.70%,

04/24/2033

(g)

200‌

199‌

Ameren

Illinois

Co

3.85%,

09/01/2032

189‌

173‌

Avangrid

Inc

3.20%,

04/15/2025

1,115‌

1,064‌

Clearway

Energy

Operating

LLC

3.75%,

02/15/2031

(g)

140‌

116‌

3.75%,

01/15/2032

(g)

130‌

106‌

4.75%,

03/15/2028

(g)

170‌

158‌

CMS

Energy

Corp

3.00%,

05/15/2026

275‌

257‌

4.70%,

03/31/2043

110‌

96‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Colbun

SA

3.15%,

03/06/2030

(g)

$

200‌

$

173‌

Commonwealth

Edison

Co

4.00%,

03/01/2049

405‌

330‌

DTE

Electric

Co

3.65%,

03/01/2052

135‌

104‌

3.95%,

03/01/2049

100‌

82‌

DTE

Energy

Co

4.22%,

11/01/2024

(l)

1,000‌

981‌

Duke

Energy

Carolinas

LLC

3.55%,

03/15/2052

225‌

168‌

3.75%,

06/01/2045

500‌

393‌

Edison

International

4.70%,

08/15/2025

432‌

423‌

Elwood

Energy

LLC

8.16%,

07/05/2026

30‌

26‌

Enel

Chile

SA

4.88%,

06/12/2028

405‌

390‌

Eversource

Energy

5.45%,

03/01/2028

535‌

543‌

FirstEnergy

Corp

2.25%,

09/01/2030

640‌

515‌

Florida

Power

&

Light

Co

4.05%,

10/01/2044

615‌

528‌

ITC

Holdings

Corp

4.95%,

09/22/2027

(g)

470‌

465‌

Korea

Electric

Power

Corp

5.38%,

04/06/2026

(g)

250‌

249‌

Louisville

Gas

and

Electric

Co

5.45%,

04/15/2033

309‌

316‌

Monongahela

Power

Co

3.55%,

05/15/2027

(g)

715‌

670‌

National

Rural

Utilities

Cooperative

Finance

Corp

5.45%,

10/30/2025

360‌

361‌

NextEra

Energy

Capital

Holdings

Inc

4.45%,

06/20/2025

400‌

394‌

6.05%,

03/01/2025

105‌

106‌

NextEra

Energy

Operating

Partners

LP

4.25%,

07/15/2024

(g)

65‌

64‌

Northern

States

Power

Co/MN

5.10%,

05/15/2053

350‌

342‌

NRG

Energy

Inc

3.88%,

02/15/2032

(g)

380‌

294‌

NSTAR

Electric

Co

4.95%,

09/15/2052

45‌

44‌

Oncor

Electric

Delivery

Co

LLC

4.95%,

09/15/2052

160‌

153‌

Oryx

Funding

Ltd

5.80%,

02/03/2031

(g)

350‌

343‌

5.80%,

02/03/2031

200‌

196‌

Pacific

Gas

and

Electric

Co

1.70%,

11/15/2023

50‌

49‌

4.20%,

06/01/2041

535‌

396‌

PECO

Energy

Co

4.38%,

08/15/2052

248‌

218‌

Perusahaan

Perseroan

Persero

PT

Perusahaan

Listrik

Negara

3.88%,

07/17/2029

(g)

500‌

460‌

Public

Service

Co

of

Colorado

4.50%,

06/01/2052

132‌

114‌

Public

Service

Enterprise

Group

Inc

5.85%,

11/15/2027

450‌

461‌

Southern

California

Edison

Co

3.65%,

02/01/2050

810‌

607‌

4.20%,

03/01/2029

460‌

439‌

4.88%,

03/01/2049

500‌

445‌

State

Grid

Overseas

Investment

BVI

Ltd

3.50%,

05/04/2027

650‌

622‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

16

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Tucson

Electric

Power

Co

4.85%,

12/01/2048

$

100‌

$

88‌

Vistra

Corp

7.00%,

12/15/2026

(f),(g),(i)

160‌

142‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.74%

Vistra

Operations

Co

LLC

4.38%,

05/01/2029

(g)

345‌

304‌

WEC

Energy

Group

Inc

4.75%,

01/09/2026

400‌

394‌

5.00%,

09/27/2025

574‌

570‌

5.15%,

10/01/2027

417‌

417‌

$

16,548‌

Electrical

Components

&

Equipment

-

0

.10

%

WESCO

Distribution

Inc

7.13%,

06/15/2025

(g)

250‌

253‌

7.25%,

06/15/2028

(g)

365‌

372‌

$

625‌

Electronics

-

0

.09

%

Imola

Merger

Corp

4.75%,

05/15/2029

(g)

190‌

167‌

Sensata

Technologies

BV

4.00%,

04/15/2029

(g)

405‌

358‌

Sensata

Technologies

Inc

3.75%,

02/15/2031

(g)

39‌

33‌

$

558‌

Engineering

&

Construction

-

0

.28

%

Global

Infrastructure

Solutions

Inc

5.63%,

06/01/2029

(g)

795‌

669‌

IHS

Holding

Ltd

6.25%,

11/29/2028

(g)

325‌

268‌

Mexico

City

Airport

Trust

4.25%,

10/31/2026

(g)

250‌

239‌

Sitios

Latinoamerica

SAB

de

CV

5.38%,

04/04/2032

(g)

575‌

526‌

$

1,702‌

Entertainment

-

0

.63

%

Boyne

USA

Inc

4.75%,

05/15/2029

(g)

340‌

310‌

Caesars

Entertainment

Inc

6.25%,

07/01/2025

(g)

335‌

333‌

CCM

Merger

Inc

6.38%,

05/01/2026

(g)

255‌

248‌

CDI

Escrow

Issuer

Inc

5.75%,

04/01/2030

(g)

525‌

487‌

Cinemark

USA

Inc

5.25%,

07/15/2028

(g),(k)

370‌

324‌

8.75%,

05/01/2025

(g)

99‌

100‌

International

Game

Technology

PLC

5.25%,

01/15/2029

(g)

445‌

423‌

Resorts

World

Las

Vegas

LLC

/

RWLV

Capital

Inc

8.45%,

07/27/2030

(g)

650‌

649‌

Warnermedia

Holdings

Inc

3.76%,

03/15/2027

375‌

351‌

5.05%,

03/15/2042

505‌

420‌

5.14%,

03/15/2052

205‌

167‌

$

3,812‌

Environmental

Control

-

0

.29

%

Madison

IAQ

LLC

4.13%,

06/30/2028

(g)

400‌

356‌

Waste

Connections

Inc

2.20%,

01/15/2032

545‌

440‌

4.20%,

01/15/2033

400‌

374‌

Waste

Management

Inc

4.63%,

02/15/2030

600‌

592‌

$

1,762‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Food

-

1

.52

%

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

3.50%,

03/15/2029

(g)

$

300‌

$

261‌

4.63%,

01/15/2027

(g)

280‌

265‌

B&G

Foods

Inc

5.25%,

04/01/2025

135‌

129‌

Cencosud

SA

4.38%,

07/17/2027

(g)

475‌

451‌

JBS

USA

LUX

SA

/

JBS

USA

Food

Co

/

JBS

USA

Finance

Inc

3.63%,

01/15/2032

(g)

600‌

497‌

4.38%,

02/02/2052

(g)

1,421‌

1,023‌

Kraft

Heinz

Foods

Co

3.75%,

04/01/2030

220‌

204‌

4.88%,

10/01/2049

1,180‌

1,075‌

MARB

BondCo

PLC

3.95%,

01/29/2031

(k)

325‌

241‌

Mars

Inc

4.55%,

04/20/2028

(g)

550‌

541‌

4.75%,

04/20/2033

(g)

875‌

864‌

Nestle

Holdings

Inc

4.13%,

10/01/2027

(g)

700‌

683‌

Pilgrim's

Pride

Corp

3.50%,

03/01/2032

180‌

145‌

4.25%,

04/15/2031

2,360‌

2,041‌

Post

Holdings

Inc

4.50%,

09/15/2031

(g)

320‌

273‌

4.63%,

04/15/2030

(g)

35‌

31‌

Sysco

Corp

3.30%,

07/15/2026

475‌

452‌

$

9,176‌

Forest

Products

&

Paper

-

0

.04

%

Inversiones

CMPC

SA

6.13%,

06/23/2033

(g)

250‌

254‌

Gas

-

0

.18

%

NiSource

Inc

0.95%,

08/15/2025

1,000‌

916‌

5.25%,

03/30/2028

180‌

180‌

$

1,096‌

Healthcare

-

Products

-

0

.15

%

Abbott

Laboratories

1.40%,

06/30/2030

(k)

325‌

267‌

Boston

Scientific

Corp

3.45%,

03/01/2024

344‌

339‌

4.55%,

03/01/2039

297‌

275‌

$

881‌

Healthcare

-

Services

-

0

.87

%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(g)

295‌

273‌

Centene

Corp

2.63%,

08/01/2031

2,345‌

1,875‌

4.25%,

12/15/2027

405‌

382‌

CHS/Community

Health

Systems

Inc

8.00%,

03/15/2026

(g)

130‌

128‌

HCA

Inc

3.13%,

03/15/2027

(g)

935‌

862‌

3.50%,

07/15/2051

470‌

323‌

Tenet

Healthcare

Corp

6.13%,

06/15/2030

310‌

301‌

6.75%,

05/15/2031

(g)

70‌

70‌

UnitedHealth

Group

Inc

4.75%,

05/15/2052

715‌

673‌

5.88%,

02/15/2053

320‌

352‌

$

5,239‌

Home

Builders

-

0

.14

%

Beazer

Homes

USA

Inc

6.75%,

03/15/2025

130‌

129‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

17

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Home

Builders

(continued)

Forestar

Group

Inc

3.85%,

05/15/2026

(g)

$

55‌

$

51‌

5.00%,

03/01/2028

(g)

380‌

352‌

Lennar

Corp

4.75%,

05/30/2025

300‌

295‌

$

827‌

Home

Equity

Asset

Backed

Securities

-

0

.04

%

First

NLC

Trust

2005-1

2.15%,

05/25/2035

172‌

143‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.61%

Saxon

Asset

Securities

Trust

2004-1

2.30%,

03/25/2035

207‌

116‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.81%

$

259‌

Insurance

-

0

.87

%

Acrisure

LLC

/

Acrisure

Finance

Inc

4.25%,

02/15/2029

(g)

360‌

310‌

7.00%,

11/15/2025

(g)

225‌

217‌

American

International

Group

Inc

3.90%,

04/01/2026

43‌

42‌

Arch

Capital

Group

Ltd

3.64%,

06/30/2050

835‌

611‌

Arthur

J

Gallagher

&

Co

3.50%,

05/20/2051

810‌

578‌

5.50%,

03/02/2033

100‌

101‌

Chubb

INA

Holdings

Inc

3.35%,

05/03/2026

619‌

595‌

Corebridge

Financial

Inc

4.40%,

04/05/2052

555‌

445‌

Markel

Group

Inc

4.30%,

11/01/2047

350‌

279‌

MassMutual

Global

Funding

II

4.15%,

08/26/2025

(g)

1,140‌

1,111‌

MetLife

Inc

5.00%,

07/15/2052

350‌

328‌

Pricoa

Global

Funding

I

3.45%,

09/01/2023

(g),(k)

659‌

658‌

$

5,275‌

Internet

-

0

.45

%

Alibaba

Group

Holding

Ltd

2.13%,

02/09/2031

(k)

450‌

366‌

Amazon.com

Inc

3.10%,

05/12/2051

675‌

494‌

4.55%,

12/01/2027

500‌

500‌

Baidu

Inc

1.72%,

04/09/2026

300‌

271‌

Meta

Platforms

Inc

4.45%,

08/15/2052

390‌

340‌

Netflix

Inc

4.88%,

04/15/2028

150‌

148‌

5.88%,

11/15/2028

120‌

124‌

Prosus

NV

4.19%,

01/19/2032

(g)

575‌

487‌

$

2,730‌

Investment

Companies

-

0

.18

%

Blackstone

Private

Credit

Fund

4.70%,

03/24/2025

(k)

610‌

590‌

Compass

Group

Diversified

Holdings

LLC

5.25%,

04/15/2029

(g)

360‌

328‌

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.38%,

02/01/2029

15‌

12‌

4.75%,

09/15/2024

165‌

160‌

$

1,090‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Iron

&

Steel

-

0

.17

%

CSN

Resources

SA

4.63%,

06/10/2031

(k)

$

300‌

$

238‌

Nucor

Corp

3.85%,

04/01/2052

200‌

156‌

Vale

Overseas

Ltd

6.13%,

06/12/2033

605‌

608‌

$

1,002‌

Leisure

Products

&

Services

-

0

.18

%

Carnival

Holdings

Bermuda

Ltd

10.38%,

05/01/2028

(g)

75‌

82‌

Life

Time

Inc

5.75%,

01/15/2026

(g)

470‌

461‌

NCL

Corp

Ltd

3.63%,

12/15/2024

(g)

85‌

82‌

5.88%,

02/15/2027

(g)

160‌

156‌

NCL

Finance

Ltd

6.13%,

03/15/2028

(g)

195‌

177‌

Royal

Caribbean

Cruises

Ltd

5.38%,

07/15/2027

(g)

110‌

104‌

$

1,062‌

Lodging

-

0

.62

%

Marriott

International

Inc/MD

2.75%,

10/15/2033

1,200‌

953‌

3.60%,

04/15/2024

695‌

685‌

5.00%,

10/15/2027

685‌

681‌

Sands

China

Ltd

3.75%,

08/08/2031

(k)

495‌

415‌

4.30%,

01/08/2026

350‌

334‌

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp

5.25%,

05/15/2027

(g)

555‌

527‌

Wynn

Macau

Ltd

5.63%,

08/26/2028

(g)

200‌

178‌

$

3,773‌

Machinery

-

Diversified

-

0

.11

%

Maxim

Crane

Works

Holdings

Capital

LLC

10.13%,

08/01/2024

(g)

342‌

342‌

Westinghouse

Air

Brake

Technologies

Corp

3.20%,

06/15/2025

355‌

338‌

$

680‌

Media

-

1

.10

%

AMC

Networks

Inc

4.75%,

08/01/2025

501‌

444‌

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.50%,

08/15/2030

(g)

654‌

554‌

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

3.50%,

06/01/2041

1,170‌

790‌

3.75%,

02/15/2028

1,490‌

1,364‌

4.91%,

07/23/2025

485‌

476‌

Comcast

Corp

5.50%,

11/15/2032

1,250‌

1,296‌

CSC

Holdings

LLC

4.50%,

11/15/2031

(g)

200‌

143‌

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor

Inc

5.88%,

08/15/2027

(g)

75‌

68‌

DISH

DBS

Corp

5.88%,

11/15/2024

190‌

173‌

7.38%,

07/01/2028

380‌

214‌

DISH

Network

Corp

11.75%,

11/15/2027

(g)

120‌

121‌

Paramount

Global

4.75%,

05/15/2025

103‌

101‌

Sirius

XM

Radio

Inc

4.00%,

07/15/2028

(g)

435‌

379‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

18

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

UPC

Holding

BV

5.50%,

01/15/2028

(g)

$

345‌

$

307‌

Ziggo

Bond

Co

BV

6.00%,

01/15/2027

(g)

210‌

195‌

$

6,625‌

Mining

-

0

.23

%

Hudbay

Minerals

Inc

4.50%,

04/01/2026

(g)

220‌

209‌

6.13%,

04/01/2029

(g)

110‌

105‌

IAMGOLD

Corp

5.75%,

10/15/2028

(g)

175‌

135‌

Indonesia

Asahan

Aluminium

PT

/

Mineral

Industri

Indonesia

Persero

PT

4.75%,

05/15/2025

500‌

489‌

New

Gold

Inc

7.50%,

07/15/2027

(g)

180‌

172‌

Novelis

Corp

3.25%,

11/15/2026

(g)

40‌

36‌

4.75%,

01/30/2030

(g)

130‌

117‌

Taseko

Mines

Ltd

7.00%,

02/15/2026

(g)

130‌

120‌

$

1,383‌

Miscellaneous

Manufacturers

-

0

.06

%

Parker-Hannifin

Corp

4.25%,

09/15/2027

360‌

351‌

Mortgage

Backed

Securities

-

1

.71

%

Fannie

Mae

REMIC

Trust

2005-W2

5.38%,

05/25/2035

11‌

11‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.31%

Fannie

Mae

REMICS

0.92%,

08/25/2043

(m)

1,426‌

146‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.99%

0.97%,

12/25/2042

(m)

5,257‌

572‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

0.97%,

01/25/2048

(m)

1,893‌

228‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

3.00%,

04/25/2027

(m)

586‌

23‌

3.00%,

09/25/2050

(m)

2,231‌

337‌

3.50%,

09/25/2027

(m)

884‌

41‌

3.50%,

11/25/2027

(m)

239‌

10‌

3.50%,

05/25/2028

(m)

244‌

8‌

4.00%,

04/25/2043

(m)

177‌

14‌

Freddie

Mac

REMICS

0.87%,

10/15/2046

(m)

3,090‌

257‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

0.97%,

06/25/2050

(m)

2,698‌

300‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

6.04%

1.47%,

05/15/2026

(m)

60‌

—‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

6.54%

2.00%,

02/15/2036

87‌

82‌

3.00%,

05/15/2027

(m)

498‌

17‌

3.00%,

10/15/2027

(m)

163‌

7‌

3.00%,

02/15/2029

(m)

922‌

32‌

3.50%,

02/15/2028

(m)

484‌

21‌

3.50%,

01/15/2040

(m)

296‌

5‌

3.50%,

03/15/2041

(m)

840‌

45‌

5.63%,

05/15/2049

2,665‌

2,579‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.56%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Mortgage

Backed

Securities

(continued)

Ginnie

Mae

0.43%,

04/20/2052

(m)

$

2,752‌

$

253‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.50%

0.68%,

11/20/2040

(m)

1,352‌

124‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.94%

0.68%,

05/20/2046

(m)

312‌

34‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.94%

0.71%,

12/16/2043

(m)

3,043‌

254‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.94%

0.78%,

08/20/2044

(m)

1,147‌

114‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.04%

0.78%,

03/20/2047

(m)

1,355‌

151‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.04%

0.83%,

10/20/2045

(m)

1,099‌

124‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.09%

0.83%,

08/20/2047

(m)

548‌

59‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.09%

0.83%,

08/20/2047

(m)

4,326‌

642‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.09%

0.83%,

08/20/2047

(m)

1,592‌

157‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.09%

0.83%,

11/20/2047

(m)

785‌

83‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.09%

0.88%,

06/20/2045

(m)

1,497‌

164‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.14%

0.88%,

10/20/2047

(m)

1,289‌

130‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.14%

0.93%,

08/20/2050

(m)

2,822‌

343‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.19%

0.93%,

09/20/2050

(m)

3,010‌

364‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.19%

0.93%,

11/20/2050

(m)

1,916‌

240‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.19%

0.93%,

08/20/2051

(m)

1,791‌

207‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.19%

1.19%,

04/20/2041

(m)

556‌

58‌

(1.10)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.97%

2.50%,

12/20/2050

(m)

2,759‌

369‌

3.00%,

07/20/2050

(m)

644‌

91‌

3.00%,

11/20/2050

(m)

1,578‌

229‌

3.00%,

11/20/2050

(m)

2,358‌

341‌

3.00%,

11/20/2050

(m)

2,658‌

429‌

3.50%,

02/20/2040

(m)

47‌

—‌

3.50%,

01/20/2043

(m)

2,133‌

317‌

3.50%,

10/20/2049

(m)

945‌

151‌

4.00%,

03/16/2039

(m)

284‌

8‌

4.00%,

09/20/2040

(m)

645‌

41‌

4.50%,

05/16/2043

(m)

882‌

156‌

$

10,368‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

19

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

-

1

.06

%

Aethon

United

BR

LP

/

Aethon

United

Finance

Corp

8.25%,

02/15/2026

(g)

$

775‌

$

769‌

Antero

Resources

Corp

7.63%,

02/01/2029

(g)

226‌

231‌

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp

7.00%,

11/01/2026

(g)

275‌

269‌

Comstock

Resources

Inc

5.88%,

01/15/2030

(g)

430‌

381‌

Continental

Resources

Inc/OK

3.80%,

06/01/2024

515‌

505‌

CrownRock

LP

/

CrownRock

Finance

Inc

5.63%,

10/15/2025

(g)

265‌

261‌

Ecopetrol

SA

8.88%,

01/13/2033

790‌

810‌

MEG

Energy

Corp

7.13%,

02/01/2027

(g)

285‌

289‌

Occidental

Petroleum

Corp

5.88%,

09/01/2025

1,010‌

1,012‌

Petrobras

Global

Finance

BV

5.50%,

06/10/2051

375‌

297‌

Petroleos

Mexicanos

6.70%,

02/16/2032

703‌

542‌

QatarEnergy

2.25%,

07/12/2031

(g)

275‌

229‌

Saudi

Arabian

Oil

Co

3.25%,

11/24/2050

(g)

300‌

210‌

Southwestern

Energy

Co

4.75%,

02/01/2032

245‌

218‌

Tengizchevroil

Finance

Co

International

Ltd

4.00%,

08/15/2026

(g)

275‌

249‌

Tullow

Oil

PLC

10.25%,

05/15/2026

(g)

200‌

162‌

$

6,434‌

Oil

&

Gas

Services

-

0

.08

%

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6.25%,

04/01/2028

(g)

500‌

471‌

Other

Asset

Backed

Securities

-

0

.41

%

Chase

Funding

Trust

Series

2003-5

6.01%,

07/25/2033

612‌

582‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.71%

Chase

Funding

Trust

Series

2004-1

5.87%,

12/25/2033

16‌

15‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.57%

DLLST

2022-1

LLC

2.79%,

01/22/2024

(g)

233‌

233‌

HPEFS

Equipment

Trust

2022-2

3.15%,

09/20/2029

(g)

1,552‌

1,539‌

Verizon

Owner

Trust

2020-B

0.47%,

02/20/2025

130‌

129‌

$

2,498‌

Packaging

&

Containers

-

0

.31

%

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA

Inc

4.13%,

08/15/2026

(g)

390‌

365‌

Canpack

SA

/

Canpack

US

LLC

3.13%,

11/01/2025

(g)

200‌

185‌

Clydesdale

Acquisition

Holdings

Inc

6.63%,

04/15/2029

(g)

225‌

215‌

8.75%,

04/15/2030

(g)

160‌

145‌

Crown

Cork

&

Seal

Co

Inc

7.38%,

12/15/2026

356‌

372‌

Graphic

Packaging

International

LLC

4.13%,

08/15/2024

125‌

122‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

LABL

Inc

5.88%,

11/01/2028

(g)

$

205‌

$

187‌

6.75%,

07/15/2026

(g)

185‌

182‌

Mauser

Packaging

Solutions

Holding

Co

7.88%,

08/15/2026

(g)

125‌

125‌

$

1,898‌

Pharmaceuticals

-

1

.32

%

AbbVie

Inc

2.60%,

11/21/2024

550‌

529‌

4.05%,

11/21/2039

1,000‌

871‌

AdaptHealth

LLC

5.13%,

03/01/2030

(g)

75‌

62‌

Becton

Dickinson

&

Co

4.69%,

02/13/2028

1,385‌

1,370‌

BellRing

Brands

Inc

7.00%,

03/15/2030

(g)

275‌

276‌

Bristol-Myers

Squibb

Co

4.13%,

06/15/2039

415‌

373‌

Cigna

Group/The

4.90%,

12/15/2048

165‌

152‌

CVS

Health

Corp

4.30%,

03/25/2028

98‌

95‌

4.88%,

07/20/2035

570‌

541‌

5.05%,

03/25/2048

260‌

237‌

5.13%,

02/21/2030

600‌

597‌

Eli

Lilly

&

Co

4.70%,

02/27/2033

440‌

444‌

Jazz

Securities

DAC

4.38%,

01/15/2029

(g)

285‌

253‌

Pfizer

Investment

Enterprises

Pte

Ltd

5.11%,

05/19/2043

460‌

457‌

Viatris

Inc

1.65%,

06/22/2025

175‌

162‌

Zoetis

Inc

3.00%,

09/12/2027

660‌

616‌

4.45%,

08/20/2048

1,035‌

919‌

$

7,954‌

Pipelines

-

1

.89

%

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5.38%,

06/15/2029

(g)

340‌

319‌

5.75%,

03/01/2027

(g)

255‌

247‌

CNX

Midstream

Partners

LP

4.75%,

04/15/2030

(g)

415‌

360‌

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp

5.63%,

05/01/2027

(g)

475‌

451‌

Energy

Transfer

LP

3.75%,

05/15/2030

840‌

761‌

4.50%,

04/15/2024

575‌

569‌

5.15%,

03/15/2045

1,625‌

1,403‌

5.55%,

02/15/2028

1,065‌

1,069‌

Enterprise

Products

Operating

LLC

3.13%,

07/31/2029

500‌

450‌

4.20%,

01/31/2050

515‌

426‌

EQM

Midstream

Partners

LP

6.00%,

07/01/2025

(g)

89‌

88‌

7.50%,

06/01/2027

(g)

155‌

157‌

Galaxy

Pipeline

Assets

Bidco

Ltd

1.75%,

09/30/2027

(g)

255‌

236‌

2.16%,

03/31/2034

(g)

266‌

226‌

Hess

Midstream

Operations

LP

4.25%,

02/15/2030

(g)

450‌

395‌

5.63%,

02/15/2026

(g)

345‌

340‌

Kinder

Morgan

Inc

1.75%,

11/15/2026

1,235‌

1,104‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

20

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

(continued)

Kinetik

Holdings

LP

5.88%,

06/15/2030

(g)

$

310‌

$

298‌

NuStar

Logistics

LP

5.75%,

10/01/2025

150‌

147‌

Sabine

Pass

Liquefaction

LLC

4.20%,

03/15/2028

465‌

442‌

5.00%,

03/15/2027

275‌

272‌

5.75%,

05/15/2024

321‌

320‌

Venture

Global

Calcasieu

Pass

LLC

3.88%,

11/01/2033

(g)

40‌

33‌

Venture

Global

LNG

Inc

8.38%,

06/01/2031

(g)

115‌

117‌

Williams

Cos

Inc/The

4.55%,

06/24/2024

1,225‌

1,211‌

$

11,441‌

Private

Equity

-

0

.03

%

Brookfield

Finance

Inc

4.00%,

04/01/2024

181‌

179‌

REITs

-

1

.02

%

American

Tower

Corp

1.30%,

09/15/2025

445‌

405‌

5.50%,

03/15/2028

335‌

337‌

Cibanco

SA

Ibm

/

PLA

Administradora

Industrial

S

de

RL

de

CV

4.96%,

07/18/2029

(g)

300‌

283‌

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.38%,

06/15/2026

(g)

425‌

384‌

3.75%,

09/15/2030

(g)

268‌

214‌

Invitation

Homes

Operating

Partnership

LP

2.30%,

11/15/2028

1,245‌

1,060‌

Kimco

Realty

OP

LLC

3.20%,

04/01/2032

515‌

432‌

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp

4.75%,

06/15/2029

(g)

373‌

314‌

Mid-America

Apartments

LP

2.88%,

09/15/2051

646‌

414‌

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co-Issuer

4.88%,

05/15/2029

(g)

70‌

61‌

5.88%,

10/01/2028

(g)

25‌

23‌

7.50%,

06/01/2025

(g)

230‌

231‌

VICI

Properties

LP

/

VICI

Note

Co

Inc

3.50%,

02/15/2025

(g)

230‌

221‌

4.13%,

08/15/2030

(g)

1,550‌

1,374‌

XHR

LP

4.88%,

06/01/2029

(g)

256‌

223‌

6.38%,

08/15/2025

(g)

165‌

162‌

$

6,138‌

Retail

-

0

.34

%

Abercrombie

&

Fitch

Management

Co

8.75%,

07/15/2025

(g)

155‌

157‌

Bath

&

Body

Works

Inc

5.25%,

02/01/2028

380‌

362‌

6.63%,

10/01/2030

(g)

200‌

193‌

9.38%,

07/01/2025

(g)

41‌

44‌

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co

Inc

4.63%,

01/15/2029

(g)

345‌

301‌

LSF9

Atlantis

Holdings

LLC

/

Victra

Finance

Corp

7.75%,

02/15/2026

(g)

325‌

305‌

Patrick

Industries

Inc

4.75%,

05/01/2029

(g)

125‌

108‌

7.50%,

10/15/2027

(g)

260‌

255‌

Walmart

Inc

4.50%,

04/15/2053

325‌

313‌

$

2,038‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Semiconductors

-

0

.35

%

Broadcom

Inc

3.14%,

11/15/2035

(g)

$

75‌

$

58‌

3.42%,

04/15/2033

(g)

1,905‌

1,593‌

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA

Inc

2.70%,

05/01/2025

135‌

128‌

3.15%,

05/01/2027

140‌

129‌

Skyworks

Solutions

Inc

1.80%,

06/01/2026

235‌

211‌

$

2,119‌

Software

-

1

.60

%

Fidelity

National

Information

Services

Inc

4.50%,

07/15/2025

1,000‌

981‌

Fiserv

Inc

3.20%,

07/01/2026

1,000‌

946‌

4.40%,

07/01/2049

925‌

777‌

Microsoft

Corp

2.53%,

06/01/2050

750‌

511‌

Open

Text

Corp

3.88%,

02/15/2028

(g)

115‌

102‌

3.88%,

12/01/2029

(g)

240‌

203‌

Oracle

Corp

2.50%,

04/01/2025

270‌

257‌

2.80%,

04/01/2027

525‌

485‌

3.95%,

03/25/2051

670‌

503‌

6.15%,

11/09/2029

370‌

388‌

Salesforce

Inc

3.70%,

04/11/2028

505‌

487‌

Take-Two

Interactive

Software

Inc

3.55%,

04/14/2025

955‌

922‌

4.00%,

04/14/2032

410‌

374‌

4.95%,

03/28/2028

250‌

248‌

VMware

Inc

1.40%,

08/15/2026

1,500‌

1,329‌

1.80%,

08/15/2028

1,360‌

1,144‌

$

9,657‌

Sovereign

-

1

.57

%

Bahrain

Government

International

Bond

7.75%,

04/18/2035

(g)

550‌

570‌

Brazilian

Government

International

Bond

3.88%,

06/12/2030

645‌

577‌

Chile

Government

International

Bond

4.95%,

01/05/2036

550‌

541‌

Colombia

Government

International

Bond

3.13%,

04/15/2031

500‌

391‌

Dominican

Republic

International

Bond

4.88%,

09/23/2032

(g)

550‌

476‌

Egypt

Government

International

Bond

7.63%,

05/29/2032

400‌

258‌

Hungary

Government

International

Bond

6.13%,

05/22/2028

(g)

350‌

356‌

Jamaica

Government

International

Bond

7.88%,

07/28/2045

300‌

350‌

Mexico

Government

International

Bond

4.75%,

03/08/2044

570‌

490‌

6.35%,

02/09/2035

450‌

472‌

Morocco

Government

International

Bond

5.95%,

03/08/2028

(g)

400‌

403‌

Oman

Government

International

Bond

6.25%,

01/25/2031

(g)

270‌

277‌

Panama

Government

International

Bond

4.50%,

01/19/2063

200‌

148‌

Peruvian

Government

International

Bond

2.78%,

12/01/2060

350‌

210‌

Qatar

Government

International

Bond

4.63%,

06/02/2046

300‌

284‌

Republic

of

Poland

Government

International

Bond

5.50%,

04/04/2053

195‌

198‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

21

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Sovereign

(continued)

Romanian

Government

International

Bond

3.63%,

03/27/2032

$

290‌

$

249‌

Saudi

Government

International

Bond

4.50%,

10/26/2046

850‌

736‌

5.00%,

01/18/2053

(g)

850‌

781‌

Serbia

International

Bond

6.25%,

05/26/2028

(g)

225‌

225‌

Turkey

Government

International

Bond

9.38%,

01/19/2033

1,200‌

1,265‌

UAE

International

Government

Bond

3.25%,

10/19/2061

(g)

350‌

251‌

$

9,508‌

Telecommunications

-

1

.69

%

AT&T

Inc

2.75%,

06/01/2031

315‌

262‌

3.50%,

09/15/2053

2,668‌

1,809‌

CT

Trust

5.13%,

02/03/2032

(g)

550‌

457‌

Empresa

Nacional

de

Telecomunicaciones

SA

3.05%,

09/14/2032

(g)

200‌

159‌

Telecom

Italia

Capital

SA

6.38%,

11/15/2033

45‌

38‌

Telecom

Italia

SpA/Milano

5.30%,

05/30/2024

(g)

505‌

495‌

T-Mobile

USA

Inc

2.40%,

03/15/2029

910‌

784‌

2.55%,

02/15/2031

650‌

540‌

3.50%,

04/15/2025

715‌

691‌

3.50%,

04/15/2031

1,800‌

1,582‌

4.95%,

03/15/2028

510‌

504‌

Verizon

Communications

Inc

2.55%,

03/21/2031

1,685‌

1,399‌

2.88%,

11/20/2050

220‌

140‌

4.27%,

01/15/2036

934‌

834‌

Viavi

Solutions

Inc

3.75%,

10/01/2029

(g)

355‌

305‌

VTR

Comunicaciones

SpA

5.13%,

01/15/2028

(g)

336‌

198‌

$

10,197‌

Transportation

-

0

.37

%

Burlington

Northern

Santa

Fe

LLC

4.45%,

01/15/2053

185‌

168‌

Eletson

Holdings

Inc

/

Eletson

Finance

US

LLC

/

Agathonissos

Finance

LLC

0.00%,

01/15/2022

(d),(e)

1,749‌

9‌

Lima

Metro

Line

2

Finance

Ltd

5.88%,

07/05/2034

181‌

177‌

Norfolk

Southern

Corp

5.35%,

08/01/2054

(h)

450‌

449‌

Union

Pacific

Corp

3.50%,

02/14/2053

880‌

676‌

United

Parcel

Service

Inc

4.88%,

03/03/2033

575‌

581‌

XPO

Escrow

Sub

LLC

7.50%,

11/15/2027

(g)

175‌

181‌

$

2,241‌

Trucking

&

Leasing

-

0

.12

%

Penske

Truck

Leasing

Co

Lp

/

PTL

Finance

Corp

5.75%,

05/24/2026

(g)

575‌

572‌

6.20%,

06/15/2030

(g)

150‌

152‌

$

724‌

Water

-

0

.06

%

Essential

Utilities

Inc

2.70%,

04/15/2030

400‌

339‌

TOTAL

BONDS

$

305,521‌

SENIOR

FLOATING

RATE

INTERESTS

-

0

.79

%

Principal

Amount

(000's)

Value

(000's)

Airlines

-

0

.07

%

AAdvantage

Loyalty

IP

Ltd

10.34%,

04/20/2028

(o)

$

242‌

$

250‌

3

Month

USD

LIBOR

+

4.75%

United

Airlines

Inc

9.29%,

04/21/2028

(o)

182‌

182‌

3

Month

USD

LIBOR

+

3.75%

$

432‌

Commercial

Services

-

0

.05

%

Garda

World

Security

Corp

9.64%,

10/30/2026

(o)

284‌

283‌

1

Month

USD

LIBOR

+

4.25%

Computers

-

0

.04

%

Virtusa

Corp

9.33%,

02/11/2028

(o)

267‌

265‌

1

Month

USD

LIBOR

+

3.75%

Diversified

Financial

Services

-

0

.10

%

Russell

Investments

US

Institutional

Holdco

Inc

8.92%,

05/30/2025

(o)

647‌

596‌

1

Month

USD

LIBOR

+

3.50%

Entertainment

-

0

.02

%

Lions

Gate

Capital

Holdings

LLC

7.67%,

03/24/2025

(o)

119‌

119‌

3

Month

USD

LIBOR

+

2.00%

Healthcare

-

Products

-

0

.11

%

Medline

Borrower

LP

8.68%,

09/30/2028

(o)

658‌

651‌

1

Month

USD

LIBOR

+

3.25%

Lodging

-

0

.04

%

Fertitta

Entertainment

LLC/NV

9.32%,

01/13/2029

(o)

253‌

250‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Media

-

0

.09

%

CSC

Holdings

LLC

7.84%,

04/15/2027

(o)

187‌

162‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Directv

Financing

LLC

10.43%,

08/02/2027

(o)

367‌

364‌

1

Month

USD

LIBOR

+

5.00%

$

526‌

Mining

-

0

.06

%

Arsenal

AIC

Parent

LLC

0.00%,

07/26/2030

(o),(p)

340‌

340‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

Packaging

&

Containers

-

0

.05

%

Valcour

Packaging

LLC

9.40%,

09/30/2028

(o)

354‌

297‌

1

Month

USD

LIBOR

+

3.75%

Pharmaceuticals

-

0

.08

%

Bausch

Health

Americas

Inc

10.60%,

01/27/2027

(o)

345‌

281‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.25%

Jazz

Financing

Lux

Sarl

8.86%,

05/05/2028

(o)

239‌

239‌

1

Month

USD

LIBOR

+

3.50%

$

520‌

Retail

-

0

.08

%

IRB

Holding

Corp

8.20%,

12/15/2027

(o)

502‌

500‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

4,779‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

22

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

52

.94

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

1

.39

%

3.00%,

01/01/2043

$

1,335‌

$

1,199‌

3.00%,

02/01/2043

621‌

558‌

3.00%,

03/01/2043

260‌

234‌

4.00%,

02/01/2046

2,890‌

2,754‌

4.50%,

04/01/2031

270‌

264‌

4.50%,

04/01/2041

1,665‌

1,639‌

5.00%,

06/01/2031

189‌

189‌

5.50%,

05/01/2033

21‌

22‌

5.50%,

10/01/2033

30‌

30‌

5.50%,

12/01/2033

343‌

344‌

5.50%,

11/01/2036

289‌

290‌

5.50%,

04/01/2038

63‌

63‌

5.50%,

08/01/2038

154‌

158‌

6.00%,

06/01/2028

1‌

1‌

6.00%,

12/01/2031

9‌

10‌

6.00%,

12/01/2032

9‌

9‌

6.00%,

02/01/2033

50‌

51‌

6.00%,

12/01/2033

18‌

19‌

6.00%,

10/01/2036

75‌

78‌

6.00%,

07/01/2038

358‌

364‌

6.50%,

03/01/2029

1‌

1‌

6.50%,

05/01/2029

2‌

3‌

6.50%,

04/01/2031

1‌

1‌

6.50%,

09/01/2031

1‌

1‌

6.50%,

02/01/2032

1‌

1‌

6.50%,

05/01/2032

3‌

3‌

6.50%,

04/01/2035

32‌

34‌

6.50%,

10/01/2035

21‌

22‌

7.00%,

12/01/2029

2‌

2‌

7.00%,

06/01/2030

7‌

7‌

7.50%,

09/01/2030

1‌

1‌

7.50%,

01/01/2031

3‌

3‌

7.50%,

03/01/2031

1‌

1‌

7.50%,

02/01/2032

1‌

1‌

8.00%,

09/01/2030

33‌

33‌

$

8,390‌

Federal

National

Mortgage

Association

(FNMA)

-

0

.19

%

4.89%,

07/01/2033

245‌

243‌

1.00

x

12

Month

USD

LIBOR

+

1.57%

5.00%,

07/01/2044

914‌

915‌

$

1,158‌

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

24

.99

%

1.50%,

12/01/2036

5,181‌

4,486‌

2.00%,

12/01/2035

1,499‌

1,333‌

2.00%,

03/01/2036

1,826‌

1,623‌

2.00%,

07/01/2050

2,216‌

1,802‌

2.00%,

01/01/2051

4,552‌

3,789‌

2.00%,

02/01/2051

9,260‌

7,631‌

2.00%,

03/01/2051

5,271‌

4,329‌

2.00%,

03/01/2051

3,963‌

3,288‌

2.00%,

11/01/2051

4,471‌

3,655‌

2.00%,

11/01/2051

4,833‌

3,948‌

2.00%,

12/01/2051

1,448‌

1,194‌

2.00%,

12/01/2051

4,481‌

3,647‌

2.00%,

04/01/2052

5,635‌

4,601‌

2.00%,

05/01/2052

3,262‌

2,683‌

2.50%,

04/01/2028

697‌

662‌

2.50%,

06/01/2028

49‌

47‌

2.50%,

09/01/2029

175‌

163‌

2.50%,

06/01/2035

339‌

308‌

2.50%,

08/01/2035

1,555‌

1,423‌

2.50%,

05/01/2036

357‌

324‌

2.50%,

08/01/2050

2,999‌

2,560‌

2.50%,

07/01/2051

3,293‌

2,805‌

2.50%,

09/01/2051

4,068‌

3,468‌

2.50%,

09/01/2051

4,270‌

3,650‌

2.50%,

11/01/2051

2,020‌

1,722‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

2.50%,

01/01/2052

$

2,049‌

$

1,760‌

2.50%,

02/01/2052

1,817‌

1,545‌

2.50%,

02/01/2052

4,895‌

4,129‌

2.50%,

04/01/2052

3,429‌

2,907‌

2.50%,

04/01/2052

1,835‌

1,562‌

3.00%,

10/01/2029

34‌

32‌

3.00%,

09/01/2032

71‌

66‌

3.00%,

12/01/2040

110‌

99‌

3.00%,

04/01/2043

209‌

188‌

3.00%,

05/01/2043

385‌

346‌

3.00%,

08/01/2043

1,363‌

1,224‌

3.00%,

11/01/2046

2,643‌

2,352‌

3.00%,

03/01/2048

2,132‌

1,892‌

3.00%,

12/01/2048

64‌

56‌

3.00%,

07/01/2050

2,398‌

2,123‌

3.00%,

11/01/2050

812‌

722‌

3.00%,

04/01/2052

3,418‌

3,027‌

3.00%,

08/01/2052

5,635‌

4,967‌

3.50%,

02/01/2033

13‌

12‌

3.50%,

05/01/2034

741‌

712‌

3.50%,

05/01/2037

1,438‌

1,376‌

3.50%,

01/01/2041

71‌

66‌

3.50%,

01/01/2044

673‌

626‌

3.50%,

11/01/2044

1,342‌

1,244‌

3.50%,

04/01/2047

82‌

76‌

3.50%,

10/01/2047

35‌

32‌

3.50%,

11/01/2047

2,275‌

2,101‌

3.50%,

03/01/2048

19‌

17‌

3.50%,

08/01/2050

4,959‌

4,596‌

3.50%,

04/01/2052

3,026‌

2,753‌

3.50%,

06/01/2052

3,462‌

3,140‌

4.00%,

02/01/2031

93‌

91‌

4.00%,

03/01/2034

295‌

286‌

4.00%,

05/01/2047

2,523‌

2,385‌

4.00%,

06/01/2048

7‌

7‌

4.00%,

08/01/2052

4,722‌

4,421‌

4.50%,

04/01/2024

23‌

23‌

4.50%,

06/01/2044

336‌

329‌

4.50%,

09/01/2052

872‌

846‌

4.50%,

05/01/2053

1,936‌

1,861‌

4.50%,

08/01/2053

(q)

4,125‌

3,949‌

5.00%,

08/01/2038

(q)

4,800‌

4,767‌

5.00%,

06/01/2048

629‌

624‌

5.00%,

06/01/2053

2,717‌

2,667‌

5.00%,

09/01/2053

(q)

3,200‌

3,127‌

5.50%,

07/01/2033

37‌

37‌

5.50%,

09/01/2033

57‌

58‌

5.50%,

05/01/2040

86‌

86‌

5.50%,

09/01/2053

(q)

8,035‌

7,980‌

6.00%,

02/01/2038

61‌

61‌

6.00%,

05/01/2038

28‌

28‌

6.00%,

08/01/2038

131‌

132‌

6.00%,

08/01/2038

59‌

59‌

6.00%,

01/01/2053

4,592‌

4,720‌

6.00%,

08/01/2053

(q)

1,000‌

1,006‌

6.50%,

12/01/2031

2‌

2‌

6.50%,

02/01/2032

1‌

1‌

6.50%,

04/01/2032

1‌

1‌

6.50%,

07/01/2037

37‌

38‌

6.50%,

07/01/2037

137‌

141‌

6.50%,

12/01/2037

103‌

108‌

6.50%,

02/01/2038

175‌

182‌

6.50%,

09/01/2038

171‌

179‌

7.00%,

03/01/2032

12‌

12‌

7.50%,

08/01/2032

3‌

3‌

$

151,106‌

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

23

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Government

National

Mortgage

Association

(GNMA)

-

10

.00

%

2.00%,

08/20/2050

$

1,585‌

$

1,334‌

2.00%,

02/20/2051

5,159‌

4,325‌

2.00%,

07/20/2051

4,109‌

3,446‌

2.00%,

11/20/2051

1,322‌

1,106‌

2.50%,

06/20/2050

2,080‌

1,804‌

2.50%,

04/20/2051

2,774‌

2,400‌

2.50%,

05/20/2051

2,360‌

2,041‌

2.50%,

09/20/2051

4,665‌

4,025‌

3.00%,

06/20/2043

1,049‌

956‌

3.00%,

01/20/2045

390‌

355‌

3.00%,

06/20/2046

192‌

174‌

3.00%,

07/20/2046

822‌

745‌

3.00%,

11/20/2046

1,284‌

1,160‌

3.00%,

02/20/2050

864‌

776‌

3.00%,

09/20/2051

4,558‌

4,069‌

3.50%,

03/15/2042

531‌

497‌

3.50%,

04/15/2042

437‌

409‌

3.50%,

09/20/2044

51‌

46‌

3.50%,

09/20/2047

651‌

607‌

3.50%,

06/20/2048

817‌

759‌

3.50%,

08/20/2053

(q)

3,000‌

2,756‌

4.00%,

01/20/2048

1,825‌

1,742‌

4.00%,

04/20/2052

395‌

372‌

4.50%,

06/20/2025

298‌

288‌

4.50%,

09/15/2039

171‌

168‌

4.50%,

03/15/2040

705‌

694‌

4.50%,

08/20/2053

(q)

2,500‌

2,405‌

5.00%,

11/15/2033

639‌

643‌

5.00%,

06/15/2034

10‌

10‌

5.00%,

10/20/2039

48‌

49‌

5.00%,

02/15/2042

487‌

488‌

5.00%,

08/20/2053

(q)

5,000‌

4,899‌

5.50%,

10/15/2033

290‌

293‌

5.50%,

05/20/2035

25‌

25‌

5.50%,

02/15/2038

248‌

254‌

5.50%,

08/20/2053

(q)

5,500‌

5,466‌

6.00%,

07/20/2028

8‌

8‌

6.00%,

11/20/2028

8‌

8‌

6.00%,

01/20/2029

9‌

9‌

6.00%,

07/20/2029

2‌

2‌

6.00%,

08/15/2031

13‌

13‌

6.00%,

01/15/2032

1‌

1‌

6.00%,

02/15/2032

5‌

5‌

6.00%,

02/15/2033

16‌

17‌

6.00%,

12/15/2033

10‌

10‌

6.00%,

08/20/2053

(q)

5,400‌

5,425‌

6.50%,

03/20/2028

2‌

2‌

6.50%,

05/20/2029

2‌

2‌

6.50%,

10/15/2032

5‌

5‌

6.50%,

12/15/2032

28‌

29‌

6.50%,

09/20/2053

(q)

3,250‌

3,300‌

7.00%,

06/15/2031

4‌

4‌

7.00%,

06/15/2032

21‌

21‌

8.00%,

01/20/2031

2‌

2‌

$

60,449‌

U.S.

Treasury

-

16

.13

%

0.50%,

06/30/2027

(r)

6,500‌

5,614‌

0.75%,

12/31/2023

3,439‌

3,373‌

1.25%,

08/15/2031

11,250‌

9,163‌

1.38%,

11/15/2031

8,250‌

6,750‌

1.63%,

08/15/2029

1,800‌

1,565‌

1.75%,

08/15/2041

2,430‌

1,675‌

1.88%,

11/15/2051

1,300‌

832‌

2.00%,

08/15/2051

13,000‌

8,595‌

2.25%,

11/15/2027

7,000‌

6,448‌

2.25%,

02/15/2052

7,300‌

5,121‌

2.38%,

05/15/2027

9,000‌

8,382‌

2.63%,

12/31/2023

(k)

6,000‌

5,935‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

U.S.

Treasury

(continued)

2.88%,

08/15/2028

$

5,500‌

$

5,175‌

2.88%,

05/15/2032

5,500‌

5,052‌

3.00%,

11/15/2045

4,350‌

3,579‌

3.13%,

05/15/2048

9,915‌

8,322‌

3.88%,

08/15/2040

(s)

12,220‌

11,901‌

$

97,482‌

U.S.

Treasury

Bill

-

0

.24

%

4.35%,

11/30/2023

(t)

1,480‌

1,454‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

320,039‌

Total

Investments

$

655,171‌

Other

Assets

and

Liabilities

-  (8.37)%

(

50,581‌

)

TOTAL

NET

ASSETS

-

100.00%

$

604,590‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$8,971

or

1.48%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(g)

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

$72,697

or

12.02%

of

net

assets.

(h)

Security

purchased

on

a

when-issued

basis.

(i)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(j)

Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$503

or

0.08%

of

net

assets.

(k)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$8,736

or

1.44%

of

net

assets.

(l)

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.

(m)

Security

is

an

Interest

Only

Strip.

(n)

Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(o)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(p)

This

Senior

Floating

Rate

Note

will

settle

after

July

31,

2023,

at

which

time

the

interest

rate

will

be

determined.

(q)

Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(r)

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

$2,678

or

0.44%

of

net

assets.

(s)

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

$1,719

or

0.28%

of

net

assets.

(t)

Rate

shown

is

the

discount

rate

of

the

original

purchase.

Schedule

of

Investments

Core

Plus

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

24

Portfolio

Summary

Sector

Percent

Mortgage

Securities

39

.55‌

%

Government

18

.50‌

%

Financial

12

.69‌

%

Asset

Backed

Securities

8

.00‌

%

Consumer,

Non-cyclical

6

.49‌

%

Industrial

3

.74‌

%

Money

Market

Funds

3

.53‌

%

Communications

3

.33‌

%

Energy

3

.04‌

%

Consumer,

Cyclical

2

.99‌

%

Utilities

2

.98‌

%

Technology

2

.51‌

%

Basic

Materials

1

.02‌

%

Other

Assets

and

Liabilities

(

8

.37‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

311,821‌

$

299,445‌

$

12,376‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

27,887‌

56,639‌

84,526‌

—‌

$

27,887‌

$

368,460‌

$

383,971‌

$

12,376‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

410‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

114‌

—‌

—‌

—‌

$

524‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

10

Year

Note;

September

2023

Long

305‌

$

33,979‌

$

(

6‌

)

US

10

Year

Ultra

Note;

September

2023

Short

14‌

1,638‌

37‌

US

2

Year

Note;

September

2023

Long

29‌

5,888‌

(

91‌

)

US

5

Year

Note;

September

2023

Long

230‌

24,569‌

(

473‌

)

US

Long

Bond;

September

2023

Long

161‌

20,034‌

(

402‌

)

Total

$

(

935‌

)

Amounts

in

thousands

except

contracts.

Exchange

Cleared

Credit

Default

Swaps

Buy

Protection

Reference

Entity

Implied

Credit

Spread

as

of

July

31,

2023

(a)

(Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Payments/

(Receipts)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

CDX.EM.39

N/A

(1.00)%

Quarterly

06/20/2028

$

15,200‌

$

770‌

$

(

194‌

)

$

576‌

CDX.NA.HY.40

N/A

(5.00)%

Quarterly

06/20/2028

12,300‌

(

389‌

)

(

47‌

)

(

436‌

)

Total

$

381‌

$

(

241‌

)

$

140‌

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.

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

25

INVESTMENT

COMPANIES

-

9

.61

%

Shares

Held

Value

(000's)

Closed-End

Funds

-

2

.03

%

Cliffwater

Enhanced

Lending

Fund

2,672,811‌

$

28,706‌

Variant

Alternative

Income

Fund

1,032,702‌

30,134‌

$

58,840‌

Exchange-Traded

Funds

-

1

.44

%

iShares

Core

U.S.

Aggregate

Bond

ETF

116,475‌

11,377‌

iShares

iBoxx

$

Investment

Grade

Corporate

Bond

ETF

20,000‌

2,157‌

iShares

iBoxx

High

Yield

Corporate

Bond

ETF

131,525‌

9,930‌

iShares

JP

Morgan

USD

Emerging

Markets

Bond

ETF

28,425‌

2,492‌

Vanguard

Intermediate-Term

Corporate

Bond

ETF

200,350‌

15,848‌

$

41,804‌

Money

Market

Funds

-

6

.14

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

14,345,871‌

14,346‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b),(c)

163,731,860‌

163,732‌

$

178,078‌

TOTAL

INVESTMENT

COMPANIES

$

278,722‌

COMMON

STOCKS

-

2

.33

%

Shares

Held

Value

(000's)

Commercial

Services

-

0

.01

%

Cengage

Learning

Holdings

II

Inc

(d)

34,465‌

$

362‌

Distribution

&

Wholesale

-

0

.53

%

ATD

New

Holdings

Inc

(d)

385,347‌

15,414‌

Iron

&

Steel

-

0

.48

%

Specialty

Steel

Holdings,

Inc.

(e),(f)

87‌

13,821‌

Mining

-

1

.01

%

Arctic

Canadian

Diamond

Co

Ltd

(d),(e)

6,589‌

3,108‌

Burgundy

Diamond

Mines

Ltd

(d)

11,967,877‌

1,925‌

Real

Alloy

Holding

Inc

(e)

362‌

24,388‌

$

29,421‌

Miscellaneous

Manufacturers

-

0

.27

%

Utex

Industries

(d)

120,675‌

7,804‌

Utex

Industries

-

Warrants

(d),(e)

53,725‌

5‌

$

7,809‌

Semiconductors

-

0

.00

%

Bright

Bidco

(d)

14,600‌

7‌

Bright

Bidco

(d),(f)

10,688‌

5‌

$

12‌

Software

-

0

.03

%

Avaya

Holdings

Corp

(d),(f)

12,271‌

88‌

Avaya

Holdings

Corp

(d)

58,250‌

417‌

Skillsoft

Corp

(d)

230,831‌

305‌

$

810‌

TOTAL

COMMON

STOCKS

$

67,649‌

PREFERRED

STOCKS

-

1

.19

%

Shares

Held

Value

(000's)

Banks

-

0

.34

%

AgriBank

FCB

6.88%,

01/01/2024

(g)

33,000‌

$

3,323‌

3

Month

USD

LIBOR

+

4.23%

Fifth

Third

Bancorp

6.63%,

12/31/2023

(g),(h)

32,357‌

821‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.97%

KeyCorp

6.13%,

12/15/2026

(g)

46,140‌

1,039‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.15%

M&T

Bank

Corp

5.63%,

12/15/2026

(g)

1,324‌

31‌

3

Month

USD

LIBOR

+

4.02%

Morgan

Stanley

5.85%,

04/15/2027

(g)

59,100‌

1,416‌

3

Month

USD

LIBOR

+

3.49%

Morgan

Stanley

6.50%,

10/15/2027

(g)

22,261‌

580‌

Northern

Trust

Corp

4.70%,

01/01/2025

(g)

5,491‌

123‌

Regions

Financial

Corp

5.70%,

05/15/2029

(g)

37,100‌

807‌

3

Month

USD

LIBOR

+

3.15%

State

Street

Corp

5.90%,

03/15/2024

(g)

63,900‌

1,602‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.37%

$

9,742‌

PREFERRED

STOCKS

(continued)

Shares

Held

Value

(000’s)

Diversified

Financial

Services

-

0

.08

%

Affiliated

Managers

Group

Inc

4.75%,

09/30/2060

2,874‌

$

53‌

Affiliated

Managers

Group

Inc

5.88%,

03/30/2059

7,463‌

174‌

B

Riley

Financial

Inc

6.75%,

05/31/2024

2,384‌

58‌

Capital

One

Financial

Corp

4.80%,

06/01/2025

(g)

18,347‌

343‌

Stifel

Financial

Corp

4.50%,

08/15/2026

(g)

2,339‌

38‌

Voya

Financial

Inc

5.35%,

09/15/2029

(g)

77,215‌

1,747‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.21%

$

2,413‌

Electric

-

0

.36

%

Algonquin

Power

&

Utilities

Corp

6.20%,

07/01/2079

48,220‌

1,119‌

3

Month

USD

LIBOR

+

4.01%

CMS

Energy

Corp

5.88%,

03/01/2079

190,058‌

4,653‌

DTE

Energy

Co

4.38%,

12/01/2081

6,005‌

126‌

DTE

Energy

Co

5.25%,

12/01/2077

35,000‌

838‌

Duke

Energy

Corp

5.75%,

06/15/2024

(g)

5,327‌

134‌

Entergy

Louisiana

LLC

4.88%,

09/01/2066

9,359‌

209‌

NextEra

Energy

Capital

Holdings

Inc

5.65%,

03/01/2079

107,004‌

2,717‌

Southern

Co/The

5.25%,

12/01/2077

30,863‌

756‌

$

10,552‌

Food

-

0

.03

%

Dairy

Farmers

of

America

Inc

7.88%,

12/01/2025

(g),(i)

10,000‌

920‌

Insurance

-

0

.05

%

Allstate

Corp/The

0.00%,

07/15/2028

(d),(g)

15,000‌

402‌

Equitable

Holdings

Inc

4.30%,

03/15/2026

(g)

5,055‌

84‌

Equitable

Holdings

Inc

5.25%,

12/15/2024

(g)

22,899‌

476‌

Prudential

Financial

Inc

5.95%,

09/01/2062

18,078‌

463‌

$

1,425‌

REITs

-

0

.31

%

Kimco

Realty

Corp

5.25%,

08/31/2023

(g)

6,409‌

153‌

Prologis

Inc

8.54%,

11/13/2026

(g)

76,517‌

4,419‌

Public

Storage

4.00%,

06/16/2026

(g)

78,000‌

1,480‌

Public

Storage

4.13%,

08/14/2025

(g)

80,000‌

1,572‌

Public

Storage

4.63%,

06/17/2025

(g)

15,000‌

331‌

Public

Storage

5.60%,

03/11/2024

(g)

38,030‌

964‌

$

8,919‌

Sovereign

-

0

.02

%

CoBank

ACB

6.20%,

01/01/2025

(g)

7,000‌

676‌

3

Month

USD

LIBOR

+

3.74%

TOTAL

PREFERRED

STOCKS

$

34,647‌

BONDS

-

69

.62

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

0

.24

%

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp

4.25%,

01/15/2029

(i)

$

1,350‌

$

1,146‌

4.63%,

03/15/2030

(i)

2,250‌

1,882‌

5.00%,

08/15/2027

(i)

4,225‌

3,906‌

$

6,934‌

Aerospace

&

Defense

-

1

.07

%

Boeing

Co/The

2.20%,

02/04/2026

3,200‌

2,953‌

3.38%,

06/15/2046

793‌

557‌

5.15%,

05/01/2030

955‌

947‌

5.81%,

05/01/2050

1,350‌

1,358‌

5.93%,

05/01/2060

1,593‌

1,591‌

General

Dynamics

Corp

4.25%,

04/01/2040

1,500‌

1,365‌

L3Harris

Technologies

Inc

5.40%,

07/31/2033

1,444‌

1,454‌

5.60%,

07/31/2053

315‌

321‌

Lockheed

Martin

Corp

4.45%,

05/15/2028

1,033‌

1,024‌

5.20%,

02/15/2055

2,000‌

2,039‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

26

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Aerospace

&

Defense

(continued)

Northrop

Grumman

Corp

4.95%,

03/15/2053

$

2,103‌

$

2,023‌

RTX

Corp

5.38%,

02/27/2053

1,191‌

1,196‌

TransDigm

Inc

4.63%,

01/15/2029

700‌

625‌

4.88%,

05/01/2029

2,200‌

1,979‌

5.50%,

11/15/2027

5,850‌

5,545‌

6.25%,

03/15/2026

(i)

4,310‌

4,287‌

7.50%,

03/15/2027

1,875‌

1,874‌

$

31,138‌

Agriculture

-

0

.18

%

Altria

Group

Inc

3.13%,

06/15/2031

EUR

500‌

474‌

5.80%,

02/14/2039

$

1,450‌

1,427‌

BAT

International

Finance

PLC

1.25%,

03/13/2027

EUR

2,600‌

2,602‌

Philip

Morris

International

Inc

6.38%,

05/16/2038

$

600‌

651‌

$

5,154‌

Airlines

-

0

.25

%

Air

Canada

3.88%,

08/15/2026

(i)

925‌

858‌

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.75%,

04/20/2029

(i)

1,250‌

1,210‌

British

Airways

2021-1

Class

A

Pass

Through

Trust

2.90%,

09/15/2036

(i)

1,032‌

870‌

Hawaiian

Brand

Intellectual

Property

Ltd

/

HawaiianMiles

Loyalty

Ltd

5.75%,

01/20/2026

(i)

1,800‌

1,699‌

VistaJet

Malta

Finance

PLC

/

Vista

Management

Holding

Inc

6.38%,

02/01/2030

(i)

900‌

762‌

9.50%,

06/01/2028

(i)

1,925‌

1,839‌

$

7,238‌

Apparel

-

0

.11

%

Hanesbrands

Inc

9.00%,

02/15/2031

(h),(i)

3,050‌

3,118‌

Automobile

Asset

Backed

Securities

-

0

.25

%

AmeriCredit

Automobile

Receivables

Trust

2022-2

6.22%,

12/18/2025

1,402‌

1,405‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

1.15%

Carmax

Auto

Owner

Trust

2023-2

5.50%,

06/15/2026

2,761‌

2,753‌

Ford

Credit

Auto

Owner

Trust

2022-A

1.29%,

06/15/2026

1,400‌

1,350‌

GM

Financial

Automobile

Leasing

Trust

2022-3

4.01%,

09/22/2025

1,695‌

1,672‌

$

7,180‌

Automobile

Manufacturers

-

1

.05

%

Daimler

Truck

Finance

North

America

LLC

2.50%,

12/14/2031

(i)

260‌

211‌

5.13%,

01/19/2028

(i)

606‌

602‌

5.20%,

01/17/2025

(i)

833‌

828‌

Ford

Motor

Co

7.45%,

07/16/2031

1,870‌

2,007‌

9.63%,

04/22/2030

1,710‌

1,996‌

Ford

Motor

Credit

Co

LLC

2.90%,

02/16/2028

1,950‌

1,678‌

3.82%,

11/02/2027

500‌

449‌

4.00%,

11/13/2030

5,450‌

4,682‌

4.13%,

08/17/2027

1,840‌

1,684‌

7.20%,

06/10/2030

1,000‌

1,025‌

General

Motors

Co

5.40%,

10/15/2029

938‌

924‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Manufacturers

(continued)

General

Motors

Financial

Co

Inc

2.70%,

06/10/2031

$

961‌

$

772‌

2.75%,

06/20/2025

1,151‌

1,091‌

5.80%,

06/23/2028

926‌

930‌

Hyundai

Capital

America

5.80%,

06/26/2025

(i)

667‌

667‌

Mercedes-Benz

Finance

North

America

LLC

4.80%,

03/30/2028

(i)

1,372‌

1,356‌

5.10%,

08/03/2028

(i),(j)

1,714‌

1,712‌

5.20%,

08/03/2026

(i),(j)

5,000‌

4,995‌

5.38%,

11/26/2025

(i)

1,334‌

1,338‌

Mercedes-Benz

Group

AG

0.75%,

03/11/2033

EUR

1,200‌

1,025‌

Stellantis

NV

0.75%,

01/18/2029

500‌

464‌

$

30,436‌

Automobile

Parts

&

Equipment

-

0

.40

%

Cie

Generale

des

Etablissements

Michelin

SCA

1.75%,

09/03/2030

1,100‌

1,098‌

Dornoch

Debt

Merger

Sub

Inc

6.63%,

10/15/2029

(i)

$

5,530‌

4,741‌

Real

Hero

Merger

Sub

2

Inc

6.25%,

02/01/2029

(i)

7,135‌

5,756‌

$

11,595‌

Banks

-

14

.57

%

ABN

AMRO

Bank

NV

4.80%,

04/18/2026

(i)

2,800‌

2,695‌

Australia

&

New

Zealand

Banking

Group

Ltd/

United

Kingdom

6.75%,

06/15/2026

(g),(i),(k),(l)

2,600‌

2,591‌

USD

Swap

Rate

NY

5

Year

+

5.17%

Banco

do

Brasil

SA/Cayman

6.25%,

04/15/2024

(g),(k),(l)

3,725‌

3,427‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

10

Year

+

4.40%

Banco

Mercantil

del

Norte

SA/Grand

Cayman

6.75%,

09/27/2024

(g),(i),(k),(l)

275‌

270‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.97%

6.75%,

09/27/2024

(g),(k),(l)

2,475‌

2,426‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.97%

Banco

Santander

SA

2.13%,

02/08/2028

EUR

1,300‌

1,302‌

2.25%,

10/04/2032

(k)

GBP

800‌

836‌

Generic

Britain

5

Year

Government

Bond

+

1.65%

4.75%,

11/12/2026

(g),(k),(l)

$

3,000‌

2,385‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.75%

5.59%,

08/08/2028

(j)

3,200‌

3,201‌

6.92%,

08/08/2033

(j)

1,200‌

1,207‌

Bancolombia

SA

4.63%,

12/18/2029

(k),(l)

3,231‌

2,853‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.94%

Bank

Gospodarstwa

Krajowego

5.38%,

05/22/2033

(i)

1,925‌

1,919‌

Bank

Hapoalim

BM

3.26%,

01/21/2032

(i),(k),(l)

475‌

407‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.16%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

27

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Bank

of

America

Corp

0.98%,

09/25/2025

(k)

$

1,834‌

$

1,733‌

Secured

Overnight

Financing

Rate

+

0.91%

1.78%,

05/04/2027

(k)

EUR

3,000‌

3,088‌

3

Month

Euro

Interbank

Offered

Rate

+

1.20%

2.46%,

10/22/2025

(k)

$

3,693‌

3,549‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.13%

2.68%,

06/19/2041

(k)

2,525‌

1,788‌

Secured

Overnight

Financing

Rate

+

1.93%

3.31%,

04/22/2042

(k)

1,683‌

1,298‌

Secured

Overnight

Financing

Rate

+

1.58%

3.85%,

03/08/2037

(k)

3,192‌

2,752‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.00%

3.97%,

02/07/2030

(k)

1,322‌

1,230‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.47%

4.08%,

04/23/2040

(k)

1,657‌

1,427‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.58%

4.18%,

11/25/2027

2,074‌

1,978‌

4.38%,

01/27/2027

(g),(k)

4,000‌

3,506‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.76%

4.57%,

04/27/2033

(k)

714‌

671‌

Secured

Overnight

Financing

Rate

+

1.83%

6.11%,

01/29/2037

1,569‌

1,652‌

6.13%,

04/27/2027

(g),(k)

6,900‌

6,854‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.23%

Bank

of

Montreal

3.70%,

06/07/2025

581‌

562‌

Bank

of

New

York

Mellon

Corp/The

3.70%,

03/20/2026

(g),(k)

5,588‌

5,061‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.35%

4.70%,

09/20/2025

(g),(k)

4,600‌

4,491‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.36%

4.95%,

04/26/2027

(k)

2,500‌

2,471‌

Secured

Overnight

Financing

Rate

+

1.03%

Bank

of

Nova

Scotia/The

3.63%,

10/27/2081

(h),(k)

1,500‌

1,086‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.61%

4.59%,

05/04/2037

(k)

2,240‌

1,937‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.05%

8.63%,

10/27/2082

(k)

1,500‌

1,560‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.39%

BankUnited

Inc

4.88%,

11/17/2025

1,620‌

1,531‌

5.13%,

06/11/2030

1,738‌

1,411‌

Banque

Federative

du

Credit

Mutuel

SA

2.63%,

11/06/2029

EUR

1,500‌

1,502‌

Barclays

PLC

3.56%,

09/23/2035

(k)

$

1,981‌

1,594‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.90%

5.20%,

05/12/2026

1,000‌

974‌

7.33%,

11/02/2026

(k)

2,750‌

2,823‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

3.05%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Barclays

PLC  

(continued)

8.00%,

06/15/2024

(g),(k),(l)

$

7,500‌

$

7,385‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.67%

BBVA

Bancomer

SA/Texas

8.45%,

06/29/2038

(i),(k),(l)

1,800‌

1,833‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.66%

BNP

Paribas

SA

1.32%,

01/13/2027

(i),(k)

632‌

566‌

Secured

Overnight

Financing

Rate

+

1.00%

1.68%,

06/30/2027

(i),(k)

3,291‌

2,934‌

Secured

Overnight

Financing

Rate

+

0.91%

2.59%,

08/12/2035

(i),(k)

900‌

698‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.05%

6.63%,

03/25/2024

(g),(i),(k),(l)

400‌

388‌

USD

Swap

Semi-Annual

5

Year

+

4.15%

7.38%,

08/19/2025

(g),(i),(k),(l)

8,000‌

7,901‌

USD

Swap

Semi-Annual

5

Year

+

5.15%

BOI

Finance

BV

7.50%,

02/16/2027

EUR

1,050‌

1,003‌

BPCE

SA

3.12%,

10/19/2032

(i),(k)

$

1,800‌

1,401‌

Secured

Overnight

Financing

Rate

+

1.73%

3.58%,

10/19/2042

(i),(k)

950‌

636‌

Secured

Overnight

Financing

Rate

+

1.95%

CaixaBank

SA

2.25%,

04/17/2030

(k)

EUR

1,000‌

1,030‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

1.68%

Canadian

Imperial

Bank

of

Commerce

3.30%,

05/26/2025

CAD

1,625‌

1,188‌

Citigroup

Inc

0.50%,

10/08/2027

(k)

EUR

1,400‌

1,372‌

3

Month

Euro

Interbank

Offered

Rate

+

0.96%

1.46%,

06/09/2027

(k)

$

2,300‌

2,050‌

Secured

Overnight

Financing

Rate

+

0.77%

2.57%,

06/03/2031

(k)

525‌

438‌

Secured

Overnight

Financing

Rate

+

2.11%

2.90%,

11/03/2042

(k)

435‌

308‌

Secured

Overnight

Financing

Rate

+

1.38%

3.67%,

07/24/2028

(k)

381‌

356‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.65%

3.79%,

03/17/2033

(k)

2,591‌

2,290‌

Secured

Overnight

Financing

Rate

+

1.94%

3.88%,

02/18/2026

(g),(k)

5,000‌

4,352‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.42%

4.00%,

12/10/2025

(g),(k)

1,500‌

1,346‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.60%

4.45%,

09/29/2027

2,655‌

2,554‌

5.61%,

09/29/2026

(k)

1,433‌

1,430‌

Secured

Overnight

Financing

Rate

+

1.55%

5.88%,

02/22/2033

2,467‌

2,505‌

6.17%,

05/25/2034

(k)

554‌

563‌

Secured

Overnight

Financing

Rate

+

2.66%

Citizens

Financial

Group

Inc

2.64%,

09/30/2032

3,846‌

2,843‌

5.65%,

10/06/2025

(g),(k)

2,100‌

1,996‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.31%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

28

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Cooperatieve

Rabobank

UA

1.00%,

09/24/2026

(i),(k)

$

4,463‌

$

4,020‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.73%

Credit

Agricole

SA

1.25%,

01/26/2027

(i)

4,054‌

3,621‌

Secured

Overnight

Financing

Rate

+

1.78%

5.59%,

07/05/2026

(i)

2,115‌

2,117‌

7.88%,

01/23/2024

(g),(i),(k),(l)

2,000‌

1,990‌

USD

Swap

Semi-Annual

5

Year

+

4.90%

8.13%,

12/23/2025

(g),(i),(k),(l)

6,800‌

6,820‌

USD

Swap

Semi-Annual

5

Year

+

6.19%

Credit

Suisse

AG/New

York

NY

2.95%,

04/09/2025

1,350‌

1,278‌

7.50%,

02/15/2028

873‌

925‌

Danske

Bank

A/S

0.98%,

09/10/2025

(i),(k)

930‌

879‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.55%

1.38%,

02/12/2030

(k)

EUR

3,700‌

3,806‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

1.70%

3.24%,

12/20/2025

(i),(k)

$

1,499‌

1,432‌

3

Month

USD

LIBOR

+

1.59%

4.38%,

05/18/2026

(g),(k),(l)

3,000‌

2,582‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.39%

7.00%,

06/26/2025

(g),(k),(l)

2,000‌

1,914‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

7

Year

+

4.13%

Deutsche

Bank

AG/New

York

NY

2.55%,

01/07/2028

(k)

918‌

807‌

Secured

Overnight

Financing

Rate

+

1.32%

6.72%,

01/18/2029

(k)

190‌

193‌

Secured

Overnight

Financing

Rate

+

3.18%

7.08%,

02/10/2034

2,344‌

2,257‌

Secured

Overnight

Financing

Rate

+

7.30%

Development

Bank

of

Japan

Inc

1.75%,

02/18/2025

(i)

1,720‌

1,624‌

Fifth

Third

Bancorp

6.34%,

07/27/2029

(k)

291‌

296‌

Secured

Overnight

Financing

Rate

+

2.34%

8.25%,

03/01/2038

400‌

469‌

Fifth

Third

Bank

NA

5.85%,

10/27/2025

(k)

768‌

756‌

Secured

Overnight

Financing

Rate

+

1.23%

First

Horizon

Bank

5.75%,

05/01/2030

3,245‌

2,893‌

Goldman

Sachs

Group

Inc/The

1.00%,

03/18/2033

EUR

1,000‌

831‌

1.54%,

09/10/2027

(k)

$

1,664‌

1,468‌

Secured

Overnight

Financing

Rate

+

0.82%

2.38%,

07/21/2032

(k)

1,402‌

1,120‌

Secured

Overnight

Financing

Rate

+

1.25%

3.21%,

04/22/2042

(k)

1,238‌

918‌

Secured

Overnight

Financing

Rate

+

1.51%

4.22%,

05/01/2029

2,737‌

2,596‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.13%

4.95%,

02/10/2025

(g),(k)

9,000‌

8,488‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.22%

5.15%,

05/22/2045

1,050‌

987‌

5.70%,

11/01/2024

1,121‌

1,120‌

6.75%,

10/01/2037

3,433‌

3,720‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

HSBC

Capital

Funding

Dollar

1

LP

10.18%,

06/30/2030

(g),(k)

$

5,300‌

$

6,556‌

3

Month

USD

LIBOR

+

4.98%

HSBC

Holdings

PLC

2.25%,

11/22/2027

(k)

4,113‌

3,678‌

Secured

Overnight

Financing

Rate

+

1.10%

3.13%,

06/07/2028

EUR

1,100‌

1,144‌

3.90%,

05/25/2026

$

2,500‌

2,391‌

4.18%,

12/09/2025

(k)

1,593‌

1,552‌

Secured

Overnight

Financing

Rate

+

1.51%

4.38%,

11/23/2026

1,500‌

1,428‌

6.16%,

03/09/2029

(k)

504‌

511‌

Secured

Overnight

Financing

Rate

+

1.97%

6.33%,

03/09/2044

(k)

781‌

817‌

Secured

Overnight

Financing

Rate

+

2.65%

8.11%,

11/03/2033

(k)

1,239‌

1,374‌

Secured

Overnight

Financing

Rate

+

4.25%

Huntington

Bancshares

Inc/OH

4.45%,

10/15/2027

(g),(k)

5,085‌

4,334‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

7

Year

+

4.05%

5.63%,

07/15/2030

(g),(k)

3,000‌

2,748‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

10

Year

+

4.95%

Huntington

National

Bank/The

4.55%,

05/17/2028

(k)

1,830‌

1,738‌

Secured

Overnight

Financing

Rate

+

1.65%

ING

Groep

NV

1.40%,

07/01/2026

(i),(k)

3,389‌

3,102‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.10%

1.63%,

09/26/2029

(k)

EUR

2,600‌

2,721‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

1.25%

6.50%,

04/16/2025

(g),(k),(l)

$

2,500‌

2,356‌

USD

Swap

Semi-Annual

5

Year

+

4.45%

Intesa

Sanpaolo

SpA

7.78%,

06/20/2054

(i),(k)

1,612‌

1,631‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

3.90%

Israel

Discount

Bank

Ltd

5.38%,

01/26/2028

(i)

2,500‌

2,465‌

JPMorgan

Chase

&

Co

0.65%,

09/16/2024

(k)

2,319‌

2,303‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

0.60%

1.09%,

03/11/2027

(k)

EUR

2,900‌

2,941‌

3

Month

Euro

Interbank

Offered

Rate

+

0.76%

2.01%,

03/13/2026

(k)

$

3,134‌

2,957‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.59%

2.07%,

06/01/2029

(k)

4,678‌

4,033‌

Secured

Overnight

Financing

Rate

+

1.02%

2.53%,

11/19/2041

(k)

5,074‌

3,510‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.51%

2.55%,

11/08/2032

(k)

568‌

467‌

Secured

Overnight

Financing

Rate

+

1.18%

3.54%,

05/01/2028

(k)

673‌

630‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.64%

3.65%,

06/01/2026

(g),(k)

10,500‌

9,428‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.85%

4.91%,

07/25/2033

(k)

541‌

529‌

Secured

Overnight

Financing

Rate

+

2.08%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

29

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

JPMorgan

Chase

&

Co  

(continued)

5.72%,

09/14/2033

$

2,849‌

$

2,893‌

Secured

Overnight

Financing

Rate

+

5.16%

KeyBank

NA/Cleveland

OH

5.85%,

11/15/2027

1,654‌

1,622‌

KeyCorp

Capital

III

7.75%,

07/15/2029

795‌

734‌

Lloyds

Banking

Group

PLC

5.87%,

03/06/2029

(k)

753‌

751‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.70%

7.50%,

06/27/2024

(g),(k),(l)

2,533‌

2,468‌

USD

Swap

Semi-Annual

5

Year

+

4.76%

7.50%,

09/27/2025

(g),(k),(l)

300‌

284‌

USD

Swap

Rate

NY

5

Year

+

4.50%

8.00%,

09/27/2029

(g),(k),(l)

4,500‌

4,212‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.91%

M&T

Bank

Corp

3.50%,

09/01/2026

(g),(k)

3,000‌

2,240‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.68%

5.00%,

08/01/2024

(g),(k)

2,585‌

2,252‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.17%

Mitsubishi

UFJ

Financial

Group

Inc

2.19%,

02/25/2025

267‌

253‌

4.79%,

07/18/2025

(k)

1,586‌

1,568‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.70%

Mizuho

Financial

Group

Inc

2.56%,

09/13/2025

(k)

930‌

892‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.36%

2.56%,

09/13/2031

2,043‌

1,609‌

5.78%,

07/06/2029

(k)

2,959‌

2,972‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.65%

Morgan

Stanley

1.16%,

10/21/2025

1,930‌

1,814‌

Secured

Overnight

Financing

Rate

+

1.12%

1.51%,

07/20/2027

(k)

2,520‌

2,239‌

Secured

Overnight

Financing

Rate

+

0.86%

2.48%,

09/16/2036

(k)

391‌

300‌

Secured

Overnight

Financing

Rate

+

1.36%

2.63%,

03/09/2027

GBP

1,000‌

1,151‌

3.22%,

04/22/2042

(k)

$

1,683‌

1,272‌

Secured

Overnight

Financing

Rate

+

1.49%

3.59%,

07/22/2028

3,679‌

3,425‌

3

Month

USD

LIBOR

+

1.34%

3.62%,

04/01/2031

(k)

462‌

415‌

Secured

Overnight

Financing

Rate

+

3.12%

4.68%,

07/17/2026

(k)

528‌

518‌

Secured

Overnight

Financing

Rate

+

1.67%

5.30%,

04/20/2037

(k)

1,593‌

1,512‌

Secured

Overnight

Financing

Rate

+

2.62%

5.95%,

01/19/2038

(k)

3,000‌

2,984‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.43%

National

Australia

Bank

Ltd/New

York

2.50%,

07/12/2026

1,450‌

1,351‌

National

Bank

of

Canada

0.55%,

11/15/2024

(k)

1,887‌

1,856‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.40%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

NatWest

Group

PLC

1.64%,

06/14/2027

(k)

$

1,419‌

$

1,256‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.90%

2.11%,

11/28/2031

(k)

GBP

700‌

760‌

Generic

Britain

5

Year

Government

Bond

+

1.75%

3.03%,

11/28/2035

(k)

$

3,741‌

2,933‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.35%

3.62%,

08/14/2030

(k)

GBP

900‌

1,077‌

Generic

Britain

5

Year

Government

Bond

+

3.55%

Nordea

Bank

Abp

0.50%,

05/14/2027

EUR

1,000‌

981‌

5.38%,

09/22/2027

(i)

$

970‌

961‌

OTP

Bank

Nyrt

7.35%,

03/04/2026

(k)

EUR

1,825‌

2,037‌

3

Month

Euro

Interbank

Offered

Rate

+

4.52%

PNC

Financial

Services

Group

Inc/The

3.40%,

09/15/2026

(g),(k)

$

5,000‌

3,875‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.60%

6.00%,

05/15/2027

(g),(k)

2,000‌

1,846‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.00%

6.20%,

09/15/2027

(g),(k)

500‌

481‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.24%

6.25%,

03/15/2030

(g),(k)

1,800‌

1,646‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

7

Year

+

2.81%

Raiffeisenbank

AS

7.13%,

01/19/2026

(k)

EUR

1,800‌

1,981‌

3

Month

Euro

Interbank

Offered

Rate

+

3.93%

Regions

Financial

Corp

5.75%,

06/15/2025

(g),(k)

$

2,425‌

2,326‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.43%

7.38%,

12/10/2037

1,760‌

1,883‌

Royal

Bank

of

Canada

0.65%,

07/29/2024

2,000‌

1,903‌

5.00%,

02/01/2033

2,000‌

1,964‌

Santander

UK

Group

Holdings

PLC

3.82%,

11/03/2028

(k)

1,400‌

1,266‌

3

Month

USD

LIBOR

+

1.40%

Societe

Generale

SA

1.79%,

06/09/2027

(i),(k)

3,000‌

2,648‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.00%

3.63%,

03/01/2041

(i)

700‌

461‌

8.00%,

09/29/2025

(g),(i),(k),(l)

2,000‌

1,959‌

USD

Swap

Rate

NY

5

Year

+

5.87%

9.38%,

11/22/2027

(g),(k),(l)

1,000‌

1,017‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.39%

Sovcombank

Via

Sovcom

Capital

DAC

-

Escrow

0.00%,

12/31/2049

(d)

230‌

—‌

Standard

Chartered

PLC

4.75%,

01/14/2031

(g),(k),(l)

4,175‌

3,249‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.81%

6.19%,

07/06/2027

(i),(k)

975‌

984‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.85%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

30

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Swedbank

AB

1.54%,

11/16/2026

(i)

$

2,005‌

$

1,764‌

Synovus

Bank/Columbus

GA

5.63%,

02/15/2028

555‌

518‌

Texas

Capital

Bancshares

Inc

4.00%,

05/06/2031

(k)

1,612‌

1,290‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.15%

Toronto-Dominion

Bank/The

3.22%,

07/25/2029

(k)

CAD

3,400‌

2,508‌

Canadian

Dollar

Offered

Rate

3

Month

+

1.25%

8.13%,

10/31/2082

(k)

$

1,300‌

1,335‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.08%

Truist

Financial

Corp

4.26%,

07/28/2026

(k)

494‌

478‌

Secured

Overnight

Financing

Rate

+

1.46%

4.80%,

09/01/2024

(g),(k)

7,275‌

6,475‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.00%

4.92%,

07/28/2033

(k)

505‌

462‌

Secured

Overnight

Financing

Rate

+

2.24%

4.95%,

09/01/2025

(g),(k)

1,000‌

943‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.61%

UBS

AG/London

1.38%,

01/13/2025

(i)

2,000‌

1,880‌

UBS

Group

AG

1.49%,

08/10/2027

(i),(k)

1,585‌

1,390‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.85%

4.75%,

05/12/2028

(i),(k)

1,713‌

1,642‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.75%

6.88%,

08/07/2025

(g),(k),(l)

3,000‌

2,784‌

USD

Swap

Semi-Annual

(VS

6

Month)

5

Year

+

4.59%

7.00%,

02/19/2025

(g),(k),(l)

5,000‌

4,811‌

USD

Swap

Semi-Annual

5

Year

+

4.87%

9.02%,

11/15/2033

(i),(k)

330‌

401‌

Secured

Overnight

Financing

Rate

+

5.02%

UniCredit

SpA

1.20%,

01/20/2026

(k)

EUR

2,700‌

2,830‌

3

Month

Euro

Interbank

Offered

Rate

+

1.35%

5.46%,

06/30/2035

(i),(k)

$

700‌

611‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.75%

8.00%,

06/03/2024

(g),(k),(l)

1,100‌

1,085‌

USD

Swap

Semi-Annual

5

Year

+

5.18%

US

Bancorp

2.22%,

01/27/2028

(k)

483‌

431‌

Secured

Overnight

Financing

Rate

+

0.73%

2.49%,

11/03/2036

(k)

4,517‌

3,401‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

0.95%

3.70%,

01/15/2027

(g),(k)

15,000‌

11,662‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.54%

Wells

Fargo

&

Co

2.13%,

09/24/2031

GBP

500‌

488‌

2.39%,

06/02/2028

(k)

$

168‌

150‌

Secured

Overnight

Financing

Rate

+

2.10%

3.07%,

04/30/2041

(k)

2,098‌

1,542‌

Secured

Overnight

Financing

Rate

+

2.53%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Wells

Fargo

&

Co  

(continued)

3.90%,

03/15/2026

(g),(k)

$

6,800‌

$

6,115‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.45%

4.30%,

07/22/2027

5,210‌

5,015‌

4.75%,

12/07/2046

1,200‌

1,028‌

5.39%,

04/24/2034

4,037‌

4,005‌

Secured

Overnight

Financing

Rate

+

4.04%

5.61%,

01/15/2044

981‌

947‌

Wells

Fargo

Bank

NA

6.60%,

01/15/2038

600‌

654‌

Westpac

Banking

Corp

2.89%,

02/04/2030

(k)

3,197‌

3,003‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.35%

Zions

Bancorp

NA

3.25%,

10/29/2029

4,002‌

3,141‌

$

422,555‌

Beverages

-

0

.66

%

Anheuser-Busch

Cos

LLC

/

Anheuser-Busch

InBev

Worldwide

Inc

4.70%,

02/01/2036

1,000‌

970‌

4.90%,

02/01/2046

2,147‌

2,035‌

Anheuser-Busch

InBev

SA/NV

1.50%,

04/18/2030

EUR

2,600‌

2,534‌

Anheuser-Busch

InBev

Worldwide

Inc

4.35%,

06/01/2040

$

1,400‌

1,274‌

Brown-Forman

Corp

4.75%,

04/15/2033

(h)

648‌

649‌

Central

American

Bottling

Corp

/

CBC

Bottling

Holdco

SL

/

Beliv

Holdco

SL

5.25%,

04/27/2029

(i)

1,750‌

1,614‌

Constellation

Brands

Inc

3.75%,

05/01/2050

650‌

507‌

4.35%,

05/09/2027

3,073‌

3,003‌

JDE

Peet's

NV

0.80%,

09/24/2024

(i)

2,400‌

2,251‌

Keurig

Dr

Pepper

Inc

3.35%,

03/15/2051

1,400‌

991‌

PepsiCo

Inc

2.25%,

03/19/2025

1,426‌

1,363‌

3.60%,

02/18/2028

726‌

700‌

3.90%,

07/18/2032

801‌

770‌

4.00%,

03/05/2042

371‌

329‌

$

18,990‌

Biotechnology

-

0

.22

%

Amgen

Inc

2.80%,

08/15/2041

1,787‌

1,264‌

3.15%,

02/21/2040

570‌

433‌

4.40%,

05/01/2045

369‌

317‌

5.65%,

03/02/2053

1,112‌

1,115‌

5.75%,

03/02/2063

739‌

743‌

CSL

Finance

PLC

4.75%,

04/27/2052

(i)

679‌

626‌

Regeneron

Pharmaceuticals

Inc

2.80%,

09/15/2050

820‌

521‌

Royalty

Pharma

PLC

2.15%,

09/02/2031

1,710‌

1,337‌

$

6,356‌

Building

Materials

-

0

.35

%

Carrier

Global

Corp

3.38%,

04/05/2040

1,480‌

1,140‌

Eco

Material

Technologies

Inc

7.88%,

01/31/2027

(i)

3,650‌

3,486‌

Oscar

AcquisitionCo

LLC

/

Oscar

Finance

Inc

9.50%,

04/15/2030

(i)

3,510‌

3,343‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

31

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Building

Materials

(continued)

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(i)

$

1,700‌

$

1,620‌

Trane

Technologies

Financing

Ltd

5.25%,

03/03/2033

451‌

455‌

$

10,044‌

Chemicals

-

0

.67

%

Albemarle

Corp

5.05%,

06/01/2032

(h)

943‌

902‌

5.65%,

06/01/2052

785‌

737‌

ASP

Unifrax

Holdings

Inc

5.25%,

09/30/2028

(i)

875‌

652‌

Braskem

Netherlands

Finance

BV

4.50%,

01/31/2030

(i)

528‌

451‌

7.25%,

02/13/2033

(i)

235‌

231‌

Celanese

US

Holdings

LLC

5.90%,

07/05/2024

1,154‌

1,152‌

CF

Industries

Inc

5.38%,

03/15/2044

1,683‌

1,529‌

DuPont

de

Nemours

Inc

5.32%,

11/15/2038

500‌

496‌

Eastman

Chemical

Co

5.75%,

03/08/2033

998‌

996‌

Ecolab

Inc

1.65%,

02/01/2027

1,250‌

1,123‌

2.70%,

12/15/2051

1,569‌

1,025‌

5.25%,

01/15/2028

922‌

938‌

FMC

Corp

5.15%,

05/18/2026

260‌

257‌

Nutrien

Ltd

5.80%,

03/27/2053

(h)

746‌

750‌

5.95%,

11/07/2025

668‌

675‌

OCI

NV

6.70%,

03/16/2033

(i)

729‌

720‌

RPM

International

Inc

2.95%,

01/15/2032

367‌

293‌

4.55%,

03/01/2029

1,070‌

1,012‌

Sasol

Financing

USA

LLC

8.75%,

05/03/2029

(i)

2,975‌

2,975‌

Westlake

Corp

0.88%,

08/15/2024

1,000‌

948‌

3.13%,

08/15/2051

1,000‌

627‌

3.38%,

08/15/2061

1,322‌

805‌

$

19,294‌

Coal

-

0

.07

%

SunCoke

Energy

Inc

4.88%,

06/30/2029

(i)

2,475‌

2,131‌

Commercial

Mortgage

Backed

Securities

-

4

.44

%

BANK

2017-BNK9

1.46%,

11/15/2054

(i),(m),(n)

15,200‌

819‌

BANK

2018-BNK10

1.73%,

02/15/2061

(i),(m),(n)

31,334‌

2,067‌

BANK

2018-BNK12

1.41%,

05/15/2061

(i),(m),(n)

18,728‌

1,050‌

BANK

2019-BNK16

1.83%,

02/15/2052

(i),(m),(n)

13,120‌

1,081‌

BANK

2019-BNK17

1.59%,

04/15/2052

(i),(m),(n)

11,541‌

856‌

BANK

2019-BNK19

1.03%,

08/15/2061

(i),(m),(n)

17,014‌

828‌

BANK

2019-BNK22

0.96%,

11/15/2062

(i),(m),(n)

18,082‌

890‌

BANK

2019-BNK23

1.01%,

12/15/2052

(i),(m),(n)

9,170‌

472‌

BANK

2019-BNK24

1.02%,

11/15/2062

(i),(m),(n)

26,932‌

1,418‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

BANK

2020-BNK25

0.91%,

01/15/2063

(i),(m),(n)

$

9,704‌

$

461‌

1.50%,

01/15/2063

(i),(m)

10,561‌

730‌

1.91%,

01/15/2063

(i),(n)

5,561‌

2,211‌

2.50%,

01/15/2063

(i)

1,550‌

875‌

3.35%,

01/15/2063

(n)

2,000‌

1,428‌

BANK

2021-BNK35

1.50%,

06/15/2064

(i),(m),(n)

7,000‌

594‌

1.66%,

06/15/2064

(i),(n)

3,301‌

1,002‌

1.66%,

06/15/2064

(i),(n)

3,707‌

1,195‌

BANK

2021-BNK36

2.50%,

09/15/2064

(i),(n)

2,600‌

1,300‌

2.50%,

09/15/2064

(i),(n)

2,250‌

953‌

BANK

2021-BNK38

0.72%,

12/15/2064

(i),(m),(n)

10,388‌

485‌

2.50%,

12/15/2064

(i)

2,750‌

1,326‌

BANK

2022-BNK40

0.89%,

03/15/2064

(i),(m),(n)

7,663‌

448‌

Barclays

Commercial

Mortgage

Trust

2019-C3

1.77%,

05/15/2052

(i),(m),(n)

6,117‌

510‌

Barclays

Commercial

Mortgage

Trust

2019-C4

1.15%,

08/15/2052

(i),(m),(n)

13,091‌

733‌

Barclays

Commercial

Mortgage

Trust

2019-C5

1.35%,

11/15/2052

(i),(m),(n)

14,866‌

961‌

BBCMS

Mortgage

Trust

2020-C6

1.20%,

02/15/2053

(i),(m),(n)

7,424‌

475‌

Benchmark

2018-B1

Mortgage

Trust

1.19%,

01/15/2051

(i),(m),(n)

12,667‌

568‌

Benchmark

2018-B3

Mortgage

Trust

1.50%,

04/10/2051

(i),(m),(n)

5,520‌

306‌

Benchmark

2018-B5

Mortgage

Trust

3.11%,

07/15/2051

(i),(n)

4,500‌

2,813‌

Benchmark

2018-B6

Mortgage

Trust

1.50%,

10/10/2051

(i),(m),(n)

37,790‌

2,338‌

Benchmark

2018-B7

Mortgage

Trust

1.85%,

05/15/2053

(i),(m),(n)

16,962‌

1,411‌

3.00%,

05/15/2053

(i)

5,000‌

3,179‌

Benchmark

2019-B10

Mortgage

Trust

1.85%,

03/15/2062

(i),(m),(n)

12,985‌

1,126‌

Benchmark

2019-B11

Mortgage

Trust

1.49%,

05/15/2052

(i),(m),(n)

13,924‌

947‌

Benchmark

2019-B12

Mortgage

Trust

1.10%,

08/15/2052

(i),(m),(n)

13,870‌

733‌

Benchmark

2019-B13

Mortgage

Trust

1.00%,

08/15/2057

(i),(m),(n)

6,500‌

297‌

1.50%,

08/15/2057

(i),(m),(n)

4,000‌

290‌

Benchmark

2019-B14

Mortgage

Trust

1.27%,

12/15/2062

(i),(m),(n)

14,908‌

971‌

Benchmark

2019-B15

Mortgage

Trust

0.97%,

12/15/2072

(i),(m),(n)

24,552‌

1,208‌

Benchmark

2019-B9

Mortgage

Trust

2.00%,

03/15/2052

(i),(m),(n)

11,550‌

1,020‌

Benchmark

2020-B16

Mortgage

Trust

1.21%,

02/15/2053

(i),(m),(n)

7,615‌

428‌

Benchmark

2020-B17

Mortgage

Trust

1.41%,

03/15/2053

(i),(m),(n)

12,580‌

892‌

Benchmark

2021-B23

Mortgage

Trust

2.00%,

02/15/2054

(i)

3,000‌

1,485‌

Benchmark

2021-B27

Mortgage

Trust

2.00%,

07/15/2054

(i)

5,000‌

2,414‌

Benchmark

2021-B29

Mortgage

Trust

2.61%,

09/15/2054

1,750‌

1,371‌

Benchmark

2021-B31

Mortgage

Trust

1.14%,

12/15/2054

(i),(m),(n)

15,995‌

1,169‌

2.25%,

12/15/2054

(i)

2,721‌

1,285‌

Benchmark

2022-B32

Mortgage

Trust

1.52%,

01/15/2055

(i),(m),(n)

13,067‌

1,201‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

32

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

Benchmark

2022-B33

Mortgage

Trust

1.61%,

03/15/2055

(i),(m),(n)

$

10,960‌

$

1,044‌

Benchmark

2022-B34

Mortgage

Trust

1.83%,

04/15/2055

(i),(m),(n)

7,270‌

863‌

Benchmark

2023-B38

Mortgage

Trust

6.24%,

04/15/2056

(n)

2,202‌

2,086‌

Cantor

Commercial

Real

Estate

Lending

2019-CF2

1.44%,

11/15/2052

(i),(m),(n)

10,105‌

697‌

Cantor

Commercial

Real

Estate

Lending

2019-CF3

1.10%,

01/15/2053

(i),(m),(n)

11,514‌

660‌

Citigroup

Commercial

Mortgage

Trust

2018-C5

3.33%,

06/10/2051

(i),(n)

1,000‌

604‌

Citigroup

Commercial

Mortgage

Trust

2019-C7

1.20%,

12/15/2072

(i),(m),(n)

15,766‌

968‌

Citigroup

Commercial

Mortgage

Trust

2019-GC41

0.84%,

08/10/2056

(i),(m),(n)

13,007‌

524‌

Citigroup

Commercial

Mortgage

Trust

2019-GC43

0.62%,

11/10/2052

(i),(m),(n)

11,280‌

363‌

0.62%,

11/10/2052

(i),(m),(n)

2,528‌

76‌

0.62%,

11/10/2052

(i),(m),(n)

1,750‌

52‌

3.00%,

11/10/2052

(i)

5,000‌

2,837‌

3.00%,

11/10/2052

(i)

1,750‌

594‌

Citigroup

Commercial

Mortgage

Trust

2020-GC46

1.07%,

02/15/2053

(i),(m),(n)

21,133‌

1,204‌

COMM

2012-CCRE1

Mortgage

Trust

2.46%,

05/15/2045

(i)

13,993‌

7,837‌

COMM

2012-CCRE5

Mortgage

Trust

4.34%,

12/10/2045

(i),(n)

5,878‌

4,543‌

COMM

2013-CCRE6

Mortgage

Trust

3.86%,

03/10/2046

(i),(n)

8,967‌

6,367‌

3.86%,

03/10/2046

(i),(n)

12,400‌

7,812‌

COMM

2014-CCRE17

Mortgage

Trust

0.33%,

05/10/2047

(i),(m),(n)

44,717‌

103‌

COMM

2014-LC15

Mortgage

Trust

4.01%,

04/10/2047

1,500‌

1,482‌

COMM

2018-COR3

Mortgage

Trust

1.75%,

05/10/2051

(i),(m),(n)

15,800‌

1,020‌

COMM

2019-GC44

Mortgage

Trust

1.02%,

08/15/2057

(i),(m),(n)

5,500‌

295‌

3.52%,

08/15/2057

(n)

1,500‌

1,093‌

CSAIL

2019-C15

Commercial

Mortgage

Trust

1.98%,

03/15/2052

(i),(m),(n)

3,981‌

352‌

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1.50%,

01/25/2043

(m),(n)

79,054‌

1,595‌

3.48%,

10/25/2041

(m),(n)

1,016‌

—‌

GS

Mortgage

Securities

Trust

2013-GCJ14

4.55%,

08/10/2046

(i),(n)

2,500‌

1,525‌

GS

Mortgage

Securities

Trust

2014-GC26

1.21%,

11/10/2047

(i),(m),(n)

29,811‌

391‌

GS

Mortgage

Securities

Trust

2018-GS10

1.41%,

07/10/2051

(i),(m),(n)

8,017‌

498‌

GS

Mortgage

Securities

Trust

2018-GS9

1.35%,

03/10/2051

(i),(m),(n)

8,353‌

438‌

GS

Mortgage

Securities

Trust

2019-GC40

1.16%,

07/10/2052

(i),(m),(n)

16,500‌

908‌

GS

Mortgage

Securities

Trust

2019-GSA1

1.01%,

11/10/2052

(i),(m),(n)

21,600‌

1,115‌

GS

Mortgage

Securities

Trust

2020-GC45

0.69%,

02/13/2053

(i),(m),(n)

25,009‌

894‌

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2006-CIBC17

5.49%,

12/12/2043

(n)

4,010‌

2,922‌

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2006-LDP9

5.34%,

05/15/2047

520‌

488‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

JPMCC

Commercial

Mortgage

Securities

Trust

2019-COR4

2.01%,

03/10/2052

(i),(m),(n)

$

18,869‌

$

1,704‌

JPMCC

Commercial

Mortgage

Securities

Trust

2019-COR5

1.77%,

06/13/2052

(i),(m),(n)

8,500‌

706‌

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2013-C11

4.33%,

08/15/2046

(n)

2,600‌

2,572‌

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2015-C20

1.38%,

02/15/2048

(i),(m),(n)

41,500‌

660‌

Morgan

Stanley

Capital

I

Trust

2018-H3

1.85%,

07/15/2051

(i),(m),(n)

7,682‌

559‌

Morgan

Stanley

Capital

I

Trust

2019-H6

1.57%,

06/15/2052

(i),(m),(n)

4,693‌

333‌

3.00%,

06/15/2052

(i)

2,122‌

1,294‌

Morgan

Stanley

Capital

I

Trust

2019-L3

1.16%,

11/15/2052

(i),(m),(n)

15,090‌

869‌

Morgan

Stanley

Capital

I

Trust

2020-L4

1.17%,

02/15/2053

(i),(m),(n)

13,626‌

841‌

2.50%,

02/15/2053

(i)

3,000‌

1,505‌

MSWF

Commercial

Mortgage

Trust

2023-1

6.68%,

05/15/2056

(n)

3,000‌

3,031‌

UBS

Commercial

Mortgage

Trust

1.76%,

10/15/2052

(i),(m),(n)

12,767‌

1,108‌

UBS

Commercial

Mortgage

Trust

2019-C18

1.44%,

12/15/2052

(i),(m),(n)

11,574‌

840‌

Wells

Fargo

Commercial

Mortgage

Trust

2015-NXS1

0.40%,

05/15/2048

(m),(n)

24,936‌

175‌

Wells

Fargo

Commercial

Mortgage

Trust

2017-C40

4.30%,

10/15/2050

(n)

2,000‌

1,674‌

Wells

Fargo

Commercial

Mortgage

Trust

2017-C42

1.56%,

12/15/2050

(i),(m),(n)

20,343‌

1,161‌

Wells

Fargo

Commercial

Mortgage

Trust

2018-C44

1.82%,

05/15/2051

(i),(m),(n)

8,022‌

563‌

Wells

Fargo

Commercial

Mortgage

Trust

2019-C49

2.13%,

03/15/2052

(i),(m),(n)

4,336‌

414‌

Wells

Fargo

Commercial

Mortgage

Trust

2019-C53

1.43%,

10/15/2052

(i),(m),(n)

8,777‌

637‌

Wells

Fargo

Commercial

Mortgage

Trust

2019-C54

1.36%,

12/15/2052

(i),(m),(n)

6,363‌

445‌

Wells

Fargo

Commercial

Mortgage

Trust

2021-C61

1.39%,

11/15/2054

(i),(m),(n)

9,132‌

808‌

$

128,769‌

Commercial

Services

-

0

.88

%

AMN

Healthcare

Inc

4.63%,

10/01/2027

(i)

1,925‌

1,809‌

ASGN

Inc

4.63%,

05/15/2028

(i)

2,075‌

1,903‌

Ford

Foundation/The

2.82%,

06/01/2070

1,595‌

989‌

PROG

Holdings

Inc

6.00%,

11/15/2029

(i)

4,500‌

4,073‌

Quanta

Services

Inc

3.05%,

10/01/2041

842‌

581‌

S&P

Global

Inc

2.70%,

03/01/2029

1,117‌

1,006‌

Sotheby's

7.38%,

10/15/2027

(h),(i)

6,650‌

5,891‌

Triton

Container

International

Ltd

2.05%,

04/15/2026

(i)

3,362‌

2,967‌

3.15%,

06/15/2031

(i)

2,048‌

1,577‌

Upbound

Group

Inc

6.38%,

02/15/2029

(i)

4,575‌

4,198‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

33

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

ZipRecruiter

Inc

5.00%,

01/15/2030

(i)

$

725‌

$

618‌

$

25,612‌

Computers

-

0

.77

%

Apple

Inc

1.40%,

08/05/2028

2,475‌

2,141‌

2.65%,

05/11/2050

969‌

666‌

2.70%,

08/05/2051

2,130‌

1,472‌

3.00%,

06/20/2027

2,129‌

2,018‌

3.60%,

07/31/2042

GBP

850‌

925‌

3.95%,

08/08/2052

$

2,755‌

2,415‌

Dell

International

LLC

/

EMC

Corp

3.38%,

12/15/2041

(i)

1,615‌

1,148‌

5.30%,

10/01/2029

2,100‌

2,094‌

8.10%,

07/15/2036

1,262‌

1,469‌

Hewlett

Packard

Enterprise

Co

1.75%,

04/01/2026

1,829‌

1,669‌

5.25%,

07/01/2028

1,784‌

1,776‌

International

Business

Machines

Corp

5.60%,

11/30/2039

800‌

821‌

KBR

Inc

4.75%,

09/30/2028

(i)

2,125‌

1,944‌

Leidos

Inc

4.38%,

05/15/2030

1,194‌

1,107‌

5.75%,

03/15/2033

688‌

689‌

$

22,354‌

Cosmetics

&

Personal

Care

-

0

.21

%

Estee

Lauder

Cos

Inc/The

4.38%,

05/15/2028

925‌

910‌

Haleon

UK

Capital

PLC

3.13%,

03/24/2025

1,160‌

1,113‌

Haleon

US

Capital

LLC

3.63%,

03/24/2032

2,310‌

2,068‌

High

Ridge

Brands

-

Escrow

0.00%,

03/15/2025

(d),(e),(f)

15,607‌

—‌

Kenvue

Inc

4.90%,

03/22/2033

(i)

633‌

637‌

Procter

&

Gamble

Co/The

3.95%,

01/26/2028

1,400‌

1,378‌

$

6,106‌

Diversified

Financial

Services

-

3

.37

%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

6.50%,

07/15/2025

3,300‌

3,323‌

Air

Lease

Corp

2.88%,

01/15/2026

3,884‌

3,633‌

Ally

Financial

Inc

4.70%,

05/15/2026

(g),(k)

1,500‌

1,138‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.87%

American

Express

Co

3.55%,

09/15/2026

(g),(k)

10,000‌

8,390‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.85%

Bread

Financial

Holdings

Inc

7.00%,

01/15/2026

(h),(i)

4,250‌

4,105‌

Burford

Capital

Global

Finance

LLC

9.25%,

07/01/2031

(i)

2,175‌

2,197‌

Capital

One

Financial

Corp

3.75%,

07/28/2026

800‌

754‌

3.95%,

09/01/2026

(g),(k)

500‌

398‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.16%

4.20%,

10/29/2025

700‌

674‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Diversified

Financial

Services

(continued)

Charles

Schwab

Corp/The

4.00%,

06/01/2026

(g),(k)

$

7,800‌

$

6,963‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.17%

Credit

Acceptance

Corp

6.63%,

03/15/2026

(h)

1,600‌

1,570‌

Discover

Financial

Services

6.13%,

06/23/2025

(g),(k)

3,000‌

2,879‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.78%

Drawbridge

Special

Opportunities

Fund

LP

/

Drawbridge

Special

Opportunities

Fin

3.88%,

02/15/2026

(i)

550‌

491‌

GGAM

Finance

Ltd

8.00%,

06/15/2028

(i)

2,625‌

2,661‌

Home

Point

Capital

Inc

5.00%,

02/01/2026

(i)

2,650‌

2,473‌

Intercontinental

Exchange

Inc

3.00%,

09/15/2060

575‌

367‌

4.95%,

06/15/2052

1,236‌

1,178‌

5.20%,

06/15/2062

1,026‌

1,002‌

Jefferies

Financial

Group

Inc

5.88%,

07/21/2028

1,131‌

1,128‌

Mastercard

Inc

3.35%,

03/26/2030

1,375‌

1,274‌

Nasdaq

Inc

5.95%,

08/15/2053

(h)

367‌

374‌

6.10%,

06/28/2063

441‌

445‌

Nationstar

Mortgage

Holdings

Inc

5.50%,

08/15/2028

(i)

1,925‌

1,743‌

NFP

Corp

4.88%,

08/15/2028

(i)

1,700‌

1,530‌

6.88%,

08/15/2028

(i)

15,623‌

13,829‌

OneMain

Finance

Corp

4.00%,

09/15/2030

2,100‌

1,650‌

6.63%,

01/15/2028

5,425‌

5,144‌

Oxford

Finance

LLC

/

Oxford

Finance

Co-Issuer

II

Inc

6.38%,

02/01/2027

(i)

4,100‌

3,829‌

Provident

Funding

Associates

LP

/

PFG

Finance

Corp

6.38%,

06/15/2025

(i)

2,855‌

2,528‌

Rocket

Mortgage

LLC

/

Rocket

Mortgage

Co-Issuer

Inc

3.88%,

03/01/2031

(i)

2,525‌

2,077‌

4.00%,

10/15/2033

(i)

750‌

595‌

SOCAR

Turkey

Enerji

AS

via

Steas

Funding

1

DAC

7.23%,

03/17/2026

1,800‌

1,715‌

Swiss

Insured

Brazil

Power

Finance

Sarl

9.85%,

07/16/2032

(i)

BRL

11,700‌

2,301‌

Synchrony

Financial

4.50%,

07/23/2025

$

6,533‌

6,216‌

Unifin

Financiera

SAB

de

CV

0.00%,

01/27/2028

(d),(i)

1,250‌

58‌

United

Wholesale

Mortgage

LLC

5.50%,

11/15/2025

(i)

2,025‌

1,947‌

5.50%,

04/15/2029

(i)

975‌

857‌

USAA

Capital

Corp

3.38%,

05/01/2025

(h),(i)

1,792‌

1,732‌

Visa

Inc

4.30%,

12/14/2045

1,200‌

1,112‌

Voya

Financial

Inc

6.13%,

09/15/2023

(g),(k)

1,500‌

1,462‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.36%

$

97,742‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

34

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

-

3

.14

%

AES

Corp/The

2.45%,

01/15/2031

$

703‌

$

573‌

5.45%,

06/01/2028

925‌

917‌

American

Electric

Power

Co

Inc

5.63%,

03/01/2033

1,384‌

1,409‌

5.70%,

08/15/2025

1,088‌

1,089‌

Avangrid

Inc

3.20%,

04/15/2025

3,721‌

3,551‌

Baltimore

Gas

and

Electric

Co

5.40%,

06/01/2053

716‌

729‌

CMS

Energy

Corp

3.75%,

12/01/2050

(k)

761‌

586‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.90%

4.75%,

06/01/2050

(k)

1,255‌

1,103‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.12%

Comision

Federal

de

Electricidad

5.00%,

09/29/2036

1,795‌

1,508‌

Consolidated

Edison

Co

of

New

York

Inc

2.40%,

06/15/2031

3,000‌

2,501‌

3.95%,

04/01/2050

981‌

795‌

4.45%,

03/15/2044

553‌

480‌

Dominion

Energy

Inc

3.38%,

04/01/2030

2,500‌

2,230‌

4.65%,

12/15/2024

(g),(k)

10,000‌

9,105‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.99%

5.75%,

10/01/2054

(k)

501‌

483‌

3

Month

USD

LIBOR

+

3.06%

DTE

Electric

Co

3.95%,

03/01/2049

1,497‌

1,226‌

DTE

Energy

Co

4.88%,

06/01/2028

1,357‌

1,340‌

Duke

Energy

Carolinas

LLC

3.55%,

03/15/2052

619‌

462‌

5.40%,

01/15/2054

374‌

378‌

Duke

Energy

Corp

3.75%,

09/01/2046

600‌

458‌

4.88%,

09/16/2024

(g),(k)

11,350‌

11,033‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.39%

Duke

Energy

Florida

LLC

5.95%,

11/15/2052

506‌

546‌

Duke

Energy

Ohio

Inc

5.65%,

04/01/2053

372‌

382‌

E.ON

SE

0.38%,

09/29/2027

EUR

800‌

777‌

Electricidad

Firme

de

Mexico

Holdings

SA

de

CV

4.90%,

11/20/2026

(i)

$

2,075‌

1,845‌

Electricite

de

France

SA

5.70%,

05/23/2028

(i)

927‌

934‌

Emera

US

Finance

LP

4.75%,

06/15/2046

2,883‌

2,317‌

Enel

Finance

International

NV

3.50%,

04/06/2028

(i)

1,147‌

1,052‌

4.75%,

05/25/2047

(i)

683‌

578‌

7.75%,

10/14/2052

(i)

720‌

848‌

Enel

SpA

8.75%,

09/24/2073

(i),(k)

368‌

366‌

USD

Swap

Semi-Annual

5

Year

+

5.88%

Engie

SA

3.63%,

01/11/2030

EUR

3,000‌

3,277‌

Entergy

Mississippi

LLC

3.50%,

06/01/2051

$

519‌

375‌

Entergy

Texas

Inc

4.50%,

03/30/2039

2,296‌

2,052‌

5.00%,

09/15/2052

422‌

393‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Exelon

Corp

5.60%,

03/15/2053

$

525‌

$

524‌

FirstEnergy

Transmission

LLC

4.55%,

04/01/2049

(i)

1,916‌

1,582‌

Fortis

Inc/Canada

3.06%,

10/04/2026

964‌

893‌

Georgia

Power

Co

3.25%,

03/15/2051

1,619‌

1,143‌

Indiana

Michigan

Power

Co

5.63%,

04/01/2053

426‌

441‌

Interstate

Power

and

Light

Co

3.50%,

09/30/2049

1,002‌

724‌

Liberty

Utilities

Finance

GP

1

2.05%,

09/15/2030

(i)

703‌

548‌

Metropolitan

Edison

Co

5.20%,

04/01/2028

(i)

1,573‌

1,563‌

National

Rural

Utilities

Cooperative

Finance

Corp

1.88%,

02/07/2025

386‌

366‌

2.85%,

01/27/2025

2,734‌

2,634‌

4.80%,

03/15/2028

530‌

525‌

8.54%,

04/30/2043

1,066‌

1,033‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.17%

NextEra

Energy

Capital

Holdings

Inc

2.25%,

06/01/2030

2,700‌

2,243‌

6.05%,

03/01/2025

632‌

637‌

Ohio

Power

Co

5.00%,

06/01/2033

531‌

526‌

Oklahoma

Gas

and

Electric

Co

5.60%,

04/01/2053

373‌

380‌

Oncor

Electric

Delivery

Co

LLC

4.15%,

06/01/2032

831‌

787‌

Pacific

Gas

and

Electric

Co

3.95%,

12/01/2047

554‌

381‌

4.30%,

03/15/2045

2,342‌

1,685‌

4.95%,

06/08/2025

953‌

930‌

PacifiCorp

5.50%,

05/15/2054

1,328‌

1,208‌

Public

Service

Co

of

Colorado

2.70%,

01/15/2051

2,305‌

1,439‌

3.70%,

06/15/2028

981‌

925‌

4.10%,

06/15/2048

1,242‌

997‌

Public

Service

Co

of

Oklahoma

2.20%,

08/15/2031

1,221‌

985‌

Southern

California

Edison

Co

1.10%,

04/01/2024

1,933‌

1,872‌

5.85%,

11/01/2027

917‌

944‌

Southern

Co/The

3.75%,

09/15/2051

(k)

3,500‌

3,019‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.92%

4.48%,

08/01/2024

(n)

875‌

862‌

Southwestern

Electric

Power

Co

5.30%,

04/01/2033

586‌

580‌

Union

Electric

Co

3.90%,

04/01/2052

753‌

611‌

Wisconsin

Power

and

Light

Co

4.95%,

04/01/2033

468‌

462‌

$

91,147‌

Electronics

-

0

.23

%

Agilent

Technologies

Inc

2.30%,

03/12/2031

2,008‌

1,651‌

Honeywell

International

Inc

1.75%,

09/01/2031

1,169‌

936‌

2.80%,

06/01/2050

(h)

1,600‌

1,170‌

4.25%,

01/15/2029

963‌

942‌

Jabil

Inc

5.45%,

02/01/2029

452‌

450‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

35

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electronics

(continued)

Trimble

Inc

4.90%,

06/15/2028

$

633‌

$

620‌

6.10%,

03/15/2033

632‌

642‌

Vontier

Corp

2.95%,

04/01/2031

351‌

278‌

$

6,689‌

Energy

-

Alternate

Sources

-

0

.11

%

Energo-Pro

AS

8.50%,

02/04/2027

(i)

1,500‌

1,455‌

Enviva

Partners

LP

/

Enviva

Partners

Finance

Corp

6.50%,

01/15/2026

(i)

1,950‌

1,645‌

$

3,100‌

Engineering

&

Construction

-

0

.09

%

HTA

Group

Ltd/Mauritius

7.00%,

12/18/2025

(i)

865‌

824‌

7.00%,

12/18/2025

1,440‌

1,373‌

Jacobs

Engineering

Group

Inc

5.90%,

03/01/2033

494‌

488‌

$

2,685‌

Entertainment

-

0

.95

%

Caesars

Entertainment

Inc

4.63%,

10/15/2029

(h),(i)

2,825‌

2,487‌

7.00%,

02/15/2030

(i)

4,100‌

4,141‌

8.13%,

07/01/2027

(i)

1,025‌

1,051‌

Cinemark

USA

Inc

5.25%,

07/15/2028

(h),(i)

4,675‌

4,089‌

5.88%,

03/15/2026

(i)

2,500‌

2,367‌

8.75%,

05/01/2025

(i)

150‌

152‌

Everi

Holdings

Inc

5.00%,

07/15/2029

(i)

2,725‌

2,398‌

Live

Nation

Entertainment

Inc

4.75%,

10/15/2027

(i)

2,600‌

2,415‌

6.50%,

05/15/2027

(i)

1,600‌

1,608‌

Speedway

Motorsports

LLC

/

Speedway

Funding

II

Inc

4.88%,

11/01/2027

(i)

2,925‌

2,709‌

Warnermedia

Holdings

Inc

3.64%,

03/15/2025

925‌

894‌

5.05%,

03/15/2042

443‌

368‌

5.39%,

03/15/2062

643‌

523‌

6.41%,

03/15/2026

1,361‌

1,363‌

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp

5.13%,

10/01/2029

(i)

1,050‌

950‌

$

27,515‌

Environmental

Control

-

0

.78

%

Covanta

Holding

Corp

4.88%,

12/01/2029

(i)

4,125‌

3,643‌

5.00%,

09/01/2030

175‌

151‌

GFL

Environmental

Inc

4.38%,

08/15/2029

(i)

5,350‌

4,771‌

4.75%,

06/15/2029

(i)

2,375‌

2,166‌

Madison

IAQ

LLC

5.88%,

06/30/2029

(i)

6,640‌

5,569‌

Republic

Services

Inc

5.00%,

04/01/2034

1,092‌

1,085‌

Waste

Connections

Inc

2.20%,

01/15/2032

1,921‌

1,550‌

4.25%,

12/01/2028

681‌

658‌

Waste

Management

Inc

4.63%,

02/15/2030

444‌

438‌

4.88%,

02/15/2034

(j)

2,735‌

2,703‌

$

22,734‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Food

-

1

.23

%

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

3.50%,

03/15/2029

(i)

$

1,025‌

$

892‌

4.88%,

02/15/2030

(i)

325‌

298‌

Conagra

Brands

Inc

7.00%,

10/01/2028

1,112‌

1,186‌

General

Mills

Inc

4.95%,

03/29/2033

639‌

632‌

Hershey

Co/The

4.25%,

05/04/2028

3,475‌

3,439‌

Hormel

Foods

Corp

0.65%,

06/03/2024

1,623‌

1,557‌

JBS

USA

LUX

SA

/

JBS

USA

Food

Co

/

JBS

USA

Finance

Inc

3.00%,

02/02/2029

(i)

5,000‌

4,287‌

Kraft

Heinz

Foods

Co

4.38%,

06/01/2046

2,919‌

2,474‌

4.88%,

10/01/2049

700‌

638‌

Kroger

Co/The

3.88%,

10/15/2046

380‌

291‌

Mars

Inc

4.65%,

04/20/2031

(i)

942‌

930‌

McCormick

&

Co

Inc/MD

4.95%,

04/15/2033

509‌

500‌

Nestle

Holdings

Inc

3.50%,

09/24/2025

(i)

2,137‌

2,066‌

5.25%,

03/13/2026

(i)

1,061‌

1,070‌

Performance

Food

Group

Inc

4.25%,

08/01/2029

(i)

1,900‌

1,688‌

5.50%,

10/15/2027

(i)

2,950‌

2,856‌

Post

Holdings

Inc

4.50%,

09/15/2031

(i)

3,150‌

2,682‌

4.63%,

04/15/2030

(i)

400‌

353‌

5.50%,

12/15/2029

(i)

1,050‌

975‌

Sysco

Corp

4.45%,

03/15/2048

2,657‌

2,258‌

4.50%,

04/01/2046

1,469‌

1,237‌

5.95%,

04/01/2030

168‌

175‌

6.60%,

04/01/2050

692‌

784‌

US

Foods

Inc

4.63%,

06/01/2030

(i)

100‌

90‌

4.75%,

02/15/2029

(i)

2,493‌

2,293‌

$

35,651‌

Food

Service

-

0

.11

%

Aramark

Services

Inc

5.00%,

02/01/2028

(i)

3,385‌

3,182‌

Forest

Products

&

Paper

-

0

.07

%

Georgia-Pacific

LLC

0.95%,

05/15/2026

(i)

2,444‌

2,168‌

Gas

-

0

.12

%

Atmos

Energy

Corp

5.75%,

10/15/2052

1,120‌

1,197‌

KeySpan

Gas

East

Corp

5.99%,

03/06/2033

(i)

1,195‌

1,198‌

NiSource

Inc

5.40%,

06/30/2033

586‌

591‌

Spire

Missouri

Inc

4.80%,

02/15/2033

633‌

621‌

$

3,607‌

Hand

&

Machine

Tools

-

0

.15

%

Stanley

Black

&

Decker

Inc

2.30%,

02/24/2025

2,350‌

2,231‌

4.00%,

03/15/2060

(k)

2,623‌

2,007‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.66%

$

4,238‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

36

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Products

-

0

.37

%

Garden

Spinco

Corp

8.63%,

07/20/2030

(i)

$

2,360‌

$

2,547‌

GE

HealthCare

Technologies

Inc

5.65%,

11/15/2027

(h)

2,860‌

2,916‌

Medline

Borrower

LP

5.25%,

10/01/2029

(i)

1,125‌

998‌

STERIS

Irish

FinCo

UnLtd

Co

3.75%,

03/15/2051

1,994‌

1,492‌

Stryker

Corp

1.95%,

06/15/2030

2,200‌

1,836‌

Thermo

Fisher

Scientific

Inc

4.10%,

08/15/2047

1,150‌

1,010‌

$

10,799‌

Healthcare

-

Services

-

1

.31

%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(i)

1,425‌

1,318‌

5.50%,

07/01/2028

(i)

880‌

843‌

Catalent

Pharma

Solutions

Inc

3.50%,

04/01/2030

(h),(i)

887‌

743‌

Centene

Corp

2.63%,

08/01/2031

3,000‌

2,399‌

Elevance

Health

Inc

2.88%,

09/15/2029

1,030‌

916‌

3.65%,

12/01/2027

1,400‌

1,328‌

6.10%,

10/15/2052

531‌

578‌

Fresenius

SE

&

Co

KGaA

0.75%,

01/15/2028

EUR

2,200‌

2,121‌

HCA

Inc

3.38%,

03/15/2029

(i)

$

572‌

508‌

3.50%,

09/01/2030

1,210‌

1,064‌

3.50%,

07/15/2051

1,473‌

1,012‌

4.63%,

03/15/2052

(i)

1,638‌

1,345‌

Humana

Inc

1.35%,

02/03/2027

4,429‌

3,878‌

5.50%,

03/15/2053

371‌

366‌

5.88%,

03/01/2033

458‌

477‌

Roche

Holdings

Inc

2.13%,

03/10/2025

(h),(i)

3,696‌

3,525‌

Surgery

Center

Holdings

Inc

10.00%,

04/15/2027

(i)

3,713‌

3,800‌

Tenet

Healthcare

Corp

4.63%,

06/15/2028

100‌

92‌

5.13%,

11/01/2027

200‌

190‌

6.13%,

10/01/2028

(h)

6,635‌

6,320‌

UnitedHealth

Group

Inc

1.25%,

01/15/2026

2,110‌

1,930‌

4.95%,

05/15/2062

519‌

496‌

5.25%,

02/15/2028

955‌

977‌

6.05%,

02/15/2063

959‌

1,076‌

6.88%,

02/15/2038

550‌

648‌

$

37,950‌

Housewares

-

0

.04

%

CD&R

Smokey

Buyer

Inc

6.75%,

07/15/2025

(i)

491‌

462‌

Newell

Brands

Inc

5.87%,

04/01/2036

800‌

695‌

$

1,157‌

Insurance

-

3

.58

%

Acrisure

LLC

/

Acrisure

Finance

Inc

4.25%,

02/15/2029

(i)

900‌

776‌

7.00%,

11/15/2025

(i)

9,082‌

8,770‌

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

4.25%,

10/15/2027

(i)

2,725‌

2,487‌

6.75%,

10/15/2027

(i)

1,550‌

1,468‌

Americo

Life

Inc

3.45%,

04/15/2031

(i)

711‌

535‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

(continued)

AmWINS

Group

Inc

4.88%,

06/30/2029

(i)

$

5,275‌

$

4,839‌

Argentum

Netherlands

BV

for

Swiss

Re

Ltd

5.75%,

08/15/2050

(k)

3,000‌

2,895‌

3

Month

USD

LIBOR

+

3.59%

AssuredPartners

Inc

5.63%,

01/15/2029

(i)

150‌

131‌

7.00%,

08/15/2025

(i)

9,612‌

9,491‌

Athene

Global

Funding

1.73%,

10/02/2026

(i)

2,265‌

1,963‌

Athene

Holding

Ltd

3.45%,

05/15/2052

1,130‌

723‌

AXA

SA

3.38%,

07/06/2047

(k)

EUR

2,400‌

2,500‌

3

Month

Euro

Interbank

Offered

Rate

+

3.75%

Berkshire

Hathaway

Finance

Corp

2.63%,

06/19/2059

GBP

700‌

532‌

Berkshire

Hathaway

Inc

1.63%,

03/16/2035

EUR

3,700‌

3,254‌

Enstar

Group

Ltd

3.10%,

09/01/2031

$

1,469‌

1,144‌

4.95%,

06/01/2029

2,533‌

2,373‌

Equitable

Financial

Life

Global

Funding

1.30%,

07/12/2026

(i)

2,140‌

1,873‌

F&G

Annuities

&

Life

Inc

7.40%,

01/13/2028

(i)

1,010‌

1,014‌

F&G

Global

Funding

0.90%,

09/20/2024

(i)

1,772‌

1,657‌

2.30%,

04/11/2027

(i)

1,371‌

1,213‌

GTCR

AP

Finance

Inc

8.00%,

05/15/2027

(i)

2,020‌

2,001‌

HUB

International

Ltd

5.63%,

12/01/2029

(i)

675‌

602‌

7.00%,

05/01/2026

(i)

5,930‌

5,918‌

Jones

Deslauriers

Insurance

Management

Inc

8.50%,

03/15/2030

(i)

3,760‌

3,835‌

Liberty

Mutual

Group

Inc

4.30%,

02/01/2061

(i)

3,362‌

2,091‌

7.80%,

03/07/2087

(i)

3,500‌

3,625‌

3

Month

USD

LIBOR

+

3.58%

Massachusetts

Mutual

Life

Insurance

Co

3.38%,

04/15/2050

(i)

650‌

462‌

MetLife

Inc

3.85%,

09/15/2025

(g),(k)

2,900‌

2,710‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.58%

9.25%,

04/08/2068

(i)

5,775‌

6,670‌

3

Month

USD

LIBOR

+

5.54%

New

York

Life

Global

Funding

1.85%,

08/01/2031

(i)

3,000‌

2,367‌

4.85%,

01/09/2028

(i)

648‌

643‌

Nippon

Life

Insurance

Co

5.10%,

10/16/2044

(i),(k)

5,000‌

4,934‌

USD

Swap

Semi-Annual

5

Year

+

3.65%

Northwestern

Mutual

Global

Funding

4.35%,

09/15/2027

(i)

890‌

867‌

Progressive

Corp/The

3.00%,

03/15/2032

3,000‌

2,615‌

Prudential

Financial

Inc

5.70%,

09/15/2048

(k)

388‌

373‌

3

Month

USD

LIBOR

+

2.67%

Prudential

Funding

Asia

PLC

3.13%,

04/14/2030

456‌

404‌

SBL

Holdings

Inc

5.00%,

02/18/2031

(i)

1,525‌

1,194‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

37

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

(continued)

Security

Benefit

Global

Funding

1.25%,

05/17/2024

(i)

$

1,343‌

$

1,283‌

Talanx

AG

2.25%,

12/05/2047

(k)

EUR

2,000‌

1,938‌

3

Month

Euro

Interbank

Offered

Rate

+

2.45%

Willis

North

America

Inc

4.65%,

06/15/2027

$

1,796‌

1,742‌

Zurich

Finance

Ireland

Designated

Activity

Co

3.00%,

04/19/2051

(k)

10,000‌

7,856‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.78%

$

103,768‌

Internet

-

0

.90

%

Alibaba

Group

Holding

Ltd

4.00%,

12/06/2037

800‌

672‌

Alphabet

Inc

2.00%,

08/15/2026

900‌

834‌

Amazon.com

Inc

3.30%,

04/13/2027

1,109‌

1,057‌

3.60%,

04/13/2032

393‌

364‌

3.95%,

04/13/2052

2,000‌

1,715‌

4.10%,

04/13/2062

1,900‌

1,620‌

4.65%,

12/01/2029

721‌

722‌

Arches

Buyer

Inc

6.13%,

12/01/2028

(i)

2,038‌

1,755‌

Baidu

Inc

2.38%,

10/09/2030

900‌

738‌

Booking

Holdings

Inc

3.60%,

06/01/2026

1,200‌

1,158‌

Cablevision

Lightpath

LLC

3.88%,

09/15/2027

(i)

2,475‌

2,054‌

5.63%,

09/15/2028

(i)

1,700‌

1,293‌

Expedia

Group

Inc

2.95%,

03/15/2031

604‌

509‌

Gen

Digital

Inc

7.13%,

09/30/2030

(i)

1,300‌

1,310‌

Meta

Platforms

Inc

4.80%,

05/15/2030

5,000‌

5,016‌

Prosus

NV

3.68%,

01/21/2030

3,150‌

2,688‌

Tencent

Holdings

Ltd

3.98%,

04/11/2029

700‌

652‌

Uber

Technologies

Inc

4.50%,

08/15/2029

(i)

2,120‌

1,960‌

$

26,117‌

Investment

Companies

-

0

.17

%

Gaci

First

Investment

Co

5.38%,

10/13/2122

2,075‌

1,862‌

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.38%,

02/01/2029

2,225‌

1,805‌

5.25%,

05/15/2027

775‌

683‌

JAB

Holdings

BV

4.50%,

04/08/2052

(i)

820‌

629‌

$

4,979‌

Iron

&

Steel

-

2

.65

%

Baffinland

Iron

Mines

Corp

/

Baffinland

Iron

Mines

LP

8.75%,

07/15/2026

(i)

13,822‌

13,407‌

Material

Sciences

Corp

12.79%,

PIK

12.79%;

01/09/2024

(e),(f),(n),(o)

19,498‌

19,498‌

Nucor

Corp

4.30%,

05/23/2027

1,033‌

1,006‌

Specialty

Steel

15.53%,

11/15/2026

(e),(f)

41,564‌

41,564‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Iron

&

Steel

(continued)

Vale

Overseas

Ltd

3.75%,

07/08/2030

$

1,600‌

$

1,425‌

$

76,900‌

Leisure

Products

&

Services

-

0

.28

%

Carnival

Corp

5.75%,

03/01/2027

(i)

4,825‌

4,463‌

7.63%,

03/01/2026

(i)

600‌

592‌

Harley-Davidson

Financial

Services

Inc

6.50%,

03/10/2028

(i)

1,463‌

1,480‌

Royal

Caribbean

Cruises

Ltd

5.50%,

04/01/2028

(i)

1,675‌

1,579‌

$

8,114‌

Lodging

-

0

.53

%

Boyd

Gaming

Corp

4.75%,

06/15/2031

(i)

2,960‌

2,648‌

Hyatt

Hotels

Corp

5.75%,

01/30/2027

616‌

619‌

Marriott

International

Inc/MD

2.85%,

04/15/2031

2,746‌

2,325‌

3.50%,

10/15/2032

2,346‌

2,030‌

4.90%,

04/15/2029

457‌

448‌

Melco

Resorts

Finance

Ltd

5.63%,

07/17/2027

1,100‌

999‌

5.75%,

07/21/2028

750‌

667‌

Station

Casinos

LLC

4.63%,

12/01/2031

(h),(i)

6,150‌

5,197‌

Studio

City

Finance

Ltd

5.00%,

01/15/2029

650‌

501‌

$

15,434‌

Machinery

-

Construction

&

Mining

-

0

.18

%

Caterpillar

Financial

Services

Corp

1.45%,

05/15/2025

2,271‌

2,127‌

3.60%,

08/12/2027

364‌

350‌

4.35%,

05/15/2026

358‌

354‌

4.80%,

01/06/2026

1,099‌

1,097‌

5.40%,

03/10/2025

1,361‌

1,368‌

$

5,296‌

Machinery

-

Diversified

-

0

.57

%

Chart

Industries

Inc

9.50%,

01/01/2031

(i)

1,400‌

1,501‌

John

Deere

Capital

Corp

1.30%,

10/13/2026

(h)

877‌

784‌

3.40%,

06/06/2025

1,573‌

1,524‌

4.75%,

01/20/2028

933‌

931‌

4.95%,

06/06/2025

861‌

861‌

4.95%,

07/14/2028

619‌

624‌

nVent

Finance

Sarl

2.75%,

11/15/2031

796‌

633‌

Titan

Acquisition

Ltd

/

Titan

Co-Borrower

LLC

7.75%,

04/15/2026

(i)

10,300‌

9,567‌

$

16,425‌

Media

-

2

.07

%

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.25%,

02/01/2031

(i)

2,425‌

1,994‌

4.25%,

01/15/2034

(i)

1,950‌

1,499‌

4.50%,

05/01/2032

675‌

550‌

4.75%,

03/01/2030

(i)

750‌

650‌

5.38%,

06/01/2029

(i)

1,575‌

1,439‌

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

3.50%,

06/01/2041

1,357‌

916‌

3.70%,

04/01/2051

500‌

317‌

3.85%,

04/01/2061

1,804‌

1,096‌

4.80%,

03/01/2050

1,341‌

1,016‌

6.48%,

10/23/2045

1,000‌

933‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

38

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

Comcast

Corp

2.94%,

11/01/2056

$

441‌

$

284‌

3.40%,

04/01/2030

635‌

582‌

4.15%,

10/15/2028

2,169‌

2,099‌

4.55%,

01/15/2029

3,000‌

2,955‌

4.60%,

10/15/2038

1,375‌

1,278‌

5.50%,

05/15/2064

3,043‌

3,055‌

Cox

Communications

Inc

5.45%,

09/15/2028

(i)

898‌

897‌

CSC

Holdings

LLC

4.13%,

12/01/2030

(i)

750‌

542‌

4.63%,

12/01/2030

(i)

3,151‌

1,583‌

7.50%,

04/01/2028

(i)

625‌

386‌

Discovery

Communications

LLC

5.30%,

05/15/2049

1,683‌

1,396‌

DISH

DBS

Corp

7.38%,

07/01/2028

1,350‌

759‌

7.75%,

07/01/2026

1,125‌

727‌

Globo

Comunicacao

e

Participacoes

SA

4.88%,

01/22/2030

500‌

419‌

Midcontinent

Communications

/

Midcontinent

Finance

Corp

5.38%,

08/15/2027

(i)

414‌

391‌

Nexstar

Media

Inc

5.63%,

07/15/2027

(i)

2,150‌

2,021‌

Paramount

Global

4.38%,

03/15/2043

3,834‌

2,659‌

4.60%,

01/15/2045

461‌

323‌

5.85%,

09/01/2043

374‌

313‌

Radiate

Holdco

LLC

/

Radiate

Finance

Inc

6.50%,

09/15/2028

(i)

1,945‌

1,166‌

Sirius

XM

Radio

Inc

3.88%,

09/01/2031

(i)

1,175‌

920‌

4.13%,

07/01/2030

(i)

25‌

21‌

SportsNet

New

York

10.25%,

01/15/2025

(e),(f)

20,090‌

19,437‌

Time

Warner

Cable

LLC

6.55%,

05/01/2037

1,567‌

1,502‌

Virgin

Media

Finance

PLC

5.00%,

07/15/2030

(i)

3,825‌

3,139‌

Ziggo

Bond

Co

BV

6.00%,

01/15/2027

(i)

850‌

791‌

$

60,055‌

Mining

-

0

.85

%

Arconic

Corp

6.13%,

02/15/2028

(i)

5,700‌

5,851‌

Arsenal

AIC

Parent

LLC

8.00%,

10/01/2030

(i),(j)

2,000‌

2,040‌

Century

Aluminum

Co

7.50%,

04/01/2028

(h),(i)

9,530‌

9,054‌

Constellium

SE

3.75%,

04/15/2029

(i)

1,275‌

1,108‌

5.63%,

06/15/2028

(i)

775‌

738‌

Newmont

Corp

4.88%,

03/15/2042

650‌

601‌

Northwest

Acquisitions

ULC

/

Dominion

Finco

Inc

0.00%,

11/01/2022

(d),(i)

19,888‌

—‌

Novelis

Corp

3.88%,

08/15/2031

(i)

425‌

354‌

4.75%,

01/30/2030

(i)

1,214‌

1,091‌

South32

Treasury

Ltd

4.35%,

04/14/2032

(i)

1,796‌

1,569‌

Stillwater

Mining

Co

4.50%,

11/16/2029

2,725‌

2,215‌

$

24,621‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Miscellaneous

Manufacturers

-

0

.38

%

3M

Co

4.00%,

09/14/2048

(h)

$

1,000‌

$

860‌

Eaton

Corp

4.35%,

05/18/2028

4,000‌

3,919‌

Illinois

Tool

Works

Inc

3.90%,

09/01/2042

1,000‌

878‌

Parker-Hannifin

Corp

4.25%,

09/15/2027

1,214‌

1,182‌

Siemens

Financieringsmaatschappij

NV

0.25%,

02/20/2029

EUR

1,500‌

1,387‌

3.25%,

05/27/2025

(i)

$

3,010‌

2,911‌

$

11,137‌

Mortgage

Backed

Securities

-

0

.07

%

Fannie

Mae

REMICS

0.82%,

05/25/2046

(m)

8,998‌

893‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.89%

0.82%,

09/25/2046

(m)

2,339‌

230‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.89%

Ginnie

Mae

0.68%,

04/20/2046

(m)

9,602‌

871‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.94%

$

1,994‌

Oil

&

Gas

-

2

.62

%

Apache

Corp

5.35%,

07/01/2049

3,083‌

2,555‌

BP

Capital

Markets

America

Inc

2.72%,

01/12/2032

1,500‌

1,272‌

3.00%,

02/24/2050

2,030‌

1,401‌

3.54%,

04/06/2027

2,689‌

2,571‌

4.89%,

09/11/2033

884‌

873‌

BP

Capital

Markets

PLC

4.88%,

03/22/2030

(g),(k)

1,000‌

930‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.40%

Callon

Petroleum

Co

7.50%,

06/15/2030

(h),(i)

1,100‌

1,068‌

Chesapeake

Energy

Corp

6.75%,

04/15/2029

(i)

1,025‌

1,020‌

Chevron

Corp

2.24%,

05/11/2030

1,955‌

1,690‌

Chevron

USA

Inc

4.20%,

10/15/2049

667‌

550‌

CNX

Resources

Corp

7.38%,

01/15/2031

(i)

1,550‌

1,537‌

Comstock

Resources

Inc

5.88%,

01/15/2030

(i)

5,125‌

4,537‌

6.75%,

03/01/2029

(i)

525‌

490‌

ConocoPhillips

Co

2.40%,

03/07/2025

285‌

273‌

Diamondback

Energy

Inc

4.40%,

03/24/2051

1,402‌

1,123‌

6.25%,

03/15/2053

1,793‌

1,835‌

Ecopetrol

SA

6.88%,

04/29/2030

2,075‌

1,955‌

Energean

PLC

6.50%,

04/30/2027

1,200‌

1,093‌

Energian

Israel

Finance

Ltd

5.88%,

03/30/2031

(i)

3,725‌

3,255‌

EQT

Corp

3.63%,

05/15/2031

(h),(i)

2,116‌

1,832‌

Exxon

Mobil

Corp

4.23%,

03/19/2040

500‌

458‌

Hess

Corp

6.00%,

01/15/2040

516‌

515‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

39

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

HF

Sinclair

Corp

5.88%,

04/01/2026

$

3,085‌

$

3,098‌

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co

6.00%,

02/01/2031

(i)

1,525‌

1,381‌

6.25%,

04/15/2032

(i)

2,425‌

2,204‌

KazMunayGas

National

Co

JSC

6.38%,

10/24/2048

3,575‌

3,159‌

Kosmos

Energy

Ltd

7.75%,

05/01/2027

2,500‌

2,298‌

Leviathan

Bond

Ltd

6.50%,

06/30/2027

(i)

4,425‌

4,270‌

Marathon

Oil

Corp

6.60%,

10/01/2037

1,134‌

1,169‌

MEG

Energy

Corp

5.88%,

02/01/2029

(i)

1,125‌

1,078‌

Occidental

Petroleum

Corp

4.40%,

04/15/2046

2,667‌

2,112‌

6.60%,

03/15/2046

1,600‌

1,696‌

Ovintiv

Inc

6.25%,

07/15/2033

597‌

603‌

Permian

Resources

Operating

LLC

5.88%,

07/01/2029

(i)

3,125‌

2,978‌

Petroleos

de

Venezuela

SA

0.00%,

11/17/2021

(d)

10,000‌

350‌

0.00%,

05/16/2024

(d)

38,002‌

1,330‌

0.00%,

04/12/2027

(d)

425‌

15‌

0.00%,

05/17/2035

(d)

536‌

19‌

Petroleos

Mexicanos

6.49%,

01/23/2027

1,825‌

1,626‌

6.63%,

06/15/2035

3,650‌

2,601‌

Phillips

66

3.85%,

04/09/2025

2,100‌

2,042‌

Pioneer

Natural

Resources

Co

5.10%,

03/29/2026

691‌

689‌

Sunoco

LP

/

Sunoco

Finance

Corp

4.50%,

04/30/2030

1,300‌

1,153‌

Tengizchevroil

Finance

Co

International

Ltd

4.00%,

08/15/2026

1,800‌

1,631‌

TotalEnergies

SE

2.63%,

02/26/2025

(g),(k)

EUR

1,600‌

1,672‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

2.15%

Transocean

Inc

6.80%,

03/15/2038

$

450‌

359‌

8.75%,

02/15/2030

(i)

1,225‌

1,272‌

Transocean

Titan

Financing

Ltd

8.38%,

02/01/2028

(i)

475‌

490‌

Valero

Energy

Corp

2.80%,

12/01/2031

1,000‌

832‌

6.63%,

06/15/2037

200‌

215‌

Var

Energi

ASA

7.50%,

01/15/2028

(i)

800‌

826‌

$

76,001‌

Oil

&

Gas

Services

-

0

.10

%

Halliburton

Co

4.75%,

08/01/2043

1,066‌

939‌

4.85%,

11/15/2035

1,255‌

1,186‌

Schlumberger

Holdings

Corp

3.90%,

05/17/2028

(i)

958‌

911‌

$

3,036‌

Packaging

&

Containers

-

0

.61

%

Amcor

Finance

USA

Inc

5.63%,

05/26/2033

1,321‌

1,319‌

Amcor

Flexibles

North

America

Inc

2.69%,

05/25/2031

1,599‌

1,310‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC

4.00%,

09/01/2029

(h),(i)

$

6,950‌

$

5,685‌

Sonoco

Products

Co

1.80%,

02/01/2025

3,978‌

3,737‌

Trivium

Packaging

Finance

BV

5.50%,

08/15/2026

(i)

5,825‌

5,534‌

$

17,585‌

Pharmaceuticals

-

1

.88

%

AbbVie

Inc

4.05%,

11/21/2039

5,287‌

4,603‌

4.25%,

11/21/2049

1,300‌

1,115‌

AmerisourceBergen

Corp

3.45%,

12/15/2027

458‌

430‌

4.25%,

03/01/2045

237‌

195‌

4.30%,

12/15/2047

807‌

684‌

Astrazeneca

Finance

LLC

4.88%,

03/03/2028

1,353‌

1,355‌

4.90%,

03/03/2030

1,478‌

1,479‌

AstraZeneca

PLC

4.00%,

01/17/2029

1,150‌

1,113‌

Bayer

Capital

Corp

BV

1.50%,

06/26/2026

EUR

1,300‌

1,339‌

Becton

Dickinson

&

Co

4.30%,

08/22/2032

$

488‌

464‌

4.69%,

02/13/2028

5,605‌

5,544‌

Bristol-Myers

Squibb

Co

2.95%,

03/15/2032

1,374‌

1,202‌

3.90%,

02/20/2028

1,340‌

1,296‌

Cardinal

Health

Inc

4.60%,

03/15/2043

1,563‌

1,298‌

Cigna

Group/The

3.40%,

03/15/2050

2,164‌

1,566‌

3.88%,

10/15/2047

454‌

358‌

4.80%,

08/15/2038

2,500‌

2,343‌

CVS

Health

Corp

4.78%,

03/25/2038

3,157‌

2,913‌

5.05%,

03/25/2048

700‌

639‌

5.13%,

07/20/2045

2,691‌

2,472‌

6.00%,

06/01/2063

610‌

620‌

Eli

Lilly

&

Co

4.70%,

02/27/2033

903‌

910‌

Grifols

SA

3.88%,

10/15/2028

(i)

EUR

1,125‌

1,065‌

4.75%,

10/15/2028

(i)

$

550‌

482‌

Johnson

&

Johnson

1.65%,

05/20/2035

EUR

1,500‌

1,411‌

Merck

&

Co

Inc

1.70%,

06/10/2027

$

1,250‌

1,122‌

5.15%,

05/17/2063

1,148‌

1,160‌

Mylan

Inc

5.20%,

04/15/2048

170‌

135‌

Pfizer

Inc

2.55%,

05/28/2040

4,000‌

2,917‌

Pfizer

Investment

Enterprises

Pte

Ltd

4.75%,

05/19/2033

1,087‌

1,080‌

5.11%,

05/19/2043

740‌

735‌

5.30%,

05/19/2053

1,111‌

1,142‌

5.34%,

05/19/2063

1,481‌

1,485‌

Sanofi

1.88%,

03/21/2038

EUR

1,700‌

1,565‌

Shire

Acquisitions

Investments

Ireland

DAC

3.20%,

09/23/2026

$

1,624‌

1,526‌

Utah

Acquisition

Sub

Inc

3.95%,

06/15/2026

1,275‌

1,210‌

Viatris

Inc

3.85%,

06/22/2040

1,203‌

856‌

4.00%,

06/22/2050

3,086‌

2,086‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

40

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pharmaceuticals

(continued)

Zoetis

Inc

5.40%,

11/14/2025

$

459‌

$

461‌

$

54,376‌

Pipelines

-

2

.24

%

Acu

Petroleo

Luxembourg

Sarl

7.50%,

07/13/2035

1,443‌

1,291‌

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5.75%,

01/15/2028

(i)

825‌

793‌

Boardwalk

Pipelines

LP

3.60%,

09/01/2032

698‌

595‌

Buckeye

Partners

LP

4.50%,

03/01/2028

(i)

1,025‌

926‌

5.60%,

10/15/2044

375‌

277‌

5.85%,

11/15/2043

1,450‌

1,121‌

CNX

Midstream

Partners

LP

4.75%,

04/15/2030

(i)

2,825‌

2,449‌

CQP

Holdco

LP

/

BIP-V

Chinook

Holdco

LLC

5.50%,

06/15/2031

(i)

2,005‌

1,824‌

Enbridge

Inc

2.50%,

08/01/2033

2,700‌

2,117‌

6.00%,

01/15/2077

(k)

3,400‌

3,212‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.15%

6.25%,

03/01/2078

(k)

4,100‌

3,795‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.90%

Energy

Transfer

LP

4.90%,

03/15/2035

437‌

403‌

4.95%,

05/15/2028

1,189‌

1,163‌

5.35%,

05/15/2045

1,257‌

1,096‌

5.75%,

02/15/2033

3,633‌

3,678‌

6.13%,

12/15/2045

702‌

671‌

EnLink

Midstream

LLC

6.50%,

09/01/2030

(i)

900‌

906‌

Enterprise

Products

Operating

LLC

3.70%,

01/31/2051

370‌

280‌

5.25%,

08/16/2077

(k)

446‌

396‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.29%

5.35%,

01/31/2033

(h)

458‌

467‌

EQM

Midstream

Partners

LP

4.75%,

01/15/2031

(i)

1,225‌

1,094‌

Genesis

Energy

LP

/

Genesis

Energy

Finance

Corp

8.00%,

01/15/2027

2,705‌

2,662‌

8.88%,

04/15/2030

1,150‌

1,147‌

Gray

Oak

Pipeline

LLC

2.00%,

09/15/2023

(i)

1,040‌

1,034‌

3.45%,

10/15/2027

(i)

1,674‌

1,496‌

Greensaif

Pipelines

Bidco

Sarl

6.13%,

02/23/2038

1,950‌

2,004‌

Hess

Midstream

Operations

LP

5.50%,

10/15/2030

(i)

1,050‌

987‌

Holly

Energy

Partners

LP

/

Holly

Energy

Finance

Corp

5.00%,

02/01/2028

(i)

2,625‌

2,455‌

New

Fortress

Energy

Inc

6.75%,

09/15/2025

(i)

975‌

929‌

ONEOK

Partners

LP

6.65%,

10/01/2036

2,746‌

2,848‌

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp

4.30%,

01/31/2043

683‌

517‌

6.65%,

01/15/2037

1,210‌

1,239‌

Rockies

Express

Pipeline

LLC

4.80%,

05/15/2030

(i)

1,375‌

1,220‌

4.95%,

07/15/2029

(i)

2,000‌

1,837‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

(continued)

Sabine

Pass

Liquefaction

LLC

5.90%,

09/15/2037

(i)

$

638‌

$

646‌

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp

6.50%,

07/15/2027

1,547‌

1,554‌

Transcanada

Trust

5.60%,

03/07/2082

(k)

5,800‌

4,886‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.99%

5.88%,

08/15/2076

(k)

882‌

823‌

3

Month

USD

LIBOR

+

4.64%

Venture

Global

Calcasieu

Pass

LLC

6.25%,

01/15/2030

(i)

1,025‌

1,002‌

Venture

Global

LNG

Inc

8.38%,

06/01/2031

(i)

4,200‌

4,262‌

Williams

Cos

Inc/The

5.75%,

06/24/2044

1,890‌

1,850‌

6.30%,

04/15/2040

900‌

942‌

$

64,894‌

Real

Estate

-

0

.17

%

Country

Garden

Holdings

Co

Ltd

2.70%,

07/12/2026

200‌

33‌

4.20%,

02/06/2026

1,900‌

342‌

5.40%,

05/27/2025

300‌

61‌

7.25%,

04/08/2026

700‌

125‌

MAF

Global

Securities

Ltd

7.88%,

06/30/2027

(g),(k)

3,675‌

3,735‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.89%

Ontario

Teachers'

Cadillac

Fairview

Properties

Trust

2.50%,

10/15/2031

(i)

830‌

652‌

$

4,948‌

Regional

Authority

-

0

.11

%

Province

of

British

Columbia

Canada

4.20%,

07/06/2033

2,373‌

2,338‌

Provincia

de

Buenos

Aires/Government

Bonds

5.25%,

09/01/2037

(n)

2,000‌

775‌

$

3,113‌

REITs

-

0

.77

%

American

Tower

Corp

2.30%,

09/15/2031

1,227‌

975‌

3.10%,

06/15/2050

1,050‌

678‌

Corporate

Office

Properties

LP

2.90%,

12/01/2033

477‌

341‌

Crown

Castle

Inc

2.90%,

04/01/2041

1,350‌

928‌

4.80%,

09/01/2028

4,000‌

3,898‌

5.00%,

01/11/2028

916‌

903‌

5.20%,

02/15/2049

445‌

401‌

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.38%,

06/15/2026

(i)

450‌

406‌

Host

Hotels

&

Resorts

LP

3.50%,

09/15/2030

2,013‌

1,710‌

LXP

Industrial

Trust

2.38%,

10/01/2031

702‌

533‌

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

0.99%,

10/15/2026

EUR

2,050‌

1,743‌

National

Health

Investors

Inc

3.00%,

02/01/2031

$

1,367‌

1,066‌

Office

Properties

Income

Trust

3.45%,

10/15/2031

(h)

509‌

268‌

Omega

Healthcare

Investors

Inc

3.25%,

04/15/2033

2,724‌

2,065‌

3.38%,

02/01/2031

919‌

738‌

Public

Storage

5.35%,

08/01/2053

397‌

397‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

41

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

REITs

(continued)

Scentre

Group

Trust

2

4.75%,

09/24/2080

(i),(k)

$

1,400‌

$

1,258‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.38%

Vornado

Realty

LP

2.15%,

06/01/2026

757‌

644‌

Welltower

OP

LLC

4.00%,

06/01/2025

1,400‌

1,356‌

Weyerhaeuser

Co

4.00%,

03/09/2052

942‌

744‌

4.75%,

05/15/2026

1,330‌

1,312‌

$

22,364‌

Retail

-

1

.22

%

1011778

BC

ULC

/

New

Red

Finance

Inc

4.00%,

10/15/2030

(i)

4,650‌

3,996‌

Dollar

Tree

Inc

4.20%,

05/15/2028

2,800‌

2,683‌

Home

Depot

Inc/The

4.25%,

04/01/2046

800‌

707‌

4.50%,

12/06/2048

900‌

828‌

IRB

Holding

Corp

7.00%,

06/15/2025

(i)

1,575‌

1,583‌

Kohl's

Corp

5.55%,

07/17/2045

(h)

886‌

568‌

LBM

Acquisition

LLC

6.25%,

01/15/2029

(i)

1,850‌

1,595‌

LCM

Investments

Holdings

II

LLC

8.25%,

08/01/2031

(i)

1,125‌

1,143‌

Lowe's

Cos

Inc

3.00%,

10/15/2050

600‌

393‌

4.45%,

04/01/2062

688‌

553‌

LSF9

Atlantis

Holdings

LLC

/

Victra

Finance

Corp

7.75%,

02/15/2026

(i)

5,075‌

4,758‌

McDonald's

Corp

3.50%,

07/01/2027

978‌

932‌

3.63%,

09/01/2049

1,542‌

1,197‌

O'Reilly

Automotive

Inc

3.60%,

09/01/2027

935‌

886‌

Park

River

Holdings

Inc

6.75%,

08/01/2029

(i)

1,275‌

1,033‌

Specialty

Building

Products

Holdings

LLC

/

SBP

Finance

Corp

6.38%,

09/30/2026

(i)

3,250‌

3,093‌

SRS

Distribution

Inc

6.00%,

12/01/2029

(i)

2,000‌

1,735‌

Suburban

Propane

Partners

LP/Suburban

Energy

Finance

Corp

5.00%,

06/01/2031

(i)

800‌

683‌

Target

Corp

1.95%,

01/15/2027

(h)

2,000‌

1,836‌

Walmart

Inc

3.90%,

04/15/2028

4,000‌

3,907‌

5.63%,

03/27/2034

GBP

1,000‌

1,344‌

$

35,453‌

Savings

&

Loans

-

0

.18

%

Nationwide

Building

Society

2.00%,

07/25/2029

(k)

EUR

2,700‌

2,857‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

1.50%

New

York

Community

Bancorp

Inc

5.90%,

11/06/2028

(k)

$

2,607‌

2,458‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.04%

$

5,315‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Semiconductors

-

0

.31

%

Broadcom

Inc

2.45%,

02/15/2031

(i)

$

2,043‌

$

1,659‌

3.19%,

11/15/2036

(i)

1,860‌

1,406‌

Foundry

JV

Holdco

LLC

5.88%,

01/25/2034

(i)

1,246‌

1,234‌

Intel

Corp

5.20%,

02/10/2033

1,131‌

1,144‌

5.90%,

02/10/2063

519‌

537‌

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA

Inc

2.70%,

05/01/2025

900‌

856‌

QUALCOMM

Inc

6.00%,

05/20/2053

527‌

586‌

Texas

Instruments

Inc

4.60%,

02/15/2028

911‌

912‌

5.00%,

03/14/2053

745‌

743‌

$

9,077‌

Software

-

1

.38

%

ACI

Worldwide

Inc

5.75%,

08/15/2026

(i)

375‌

370‌

Capstone

Borrower

Inc

8.00%,

06/15/2030

(h),(i)

2,125‌

2,104‌

Clarivate

Science

Holdings

Corp

3.88%,

07/01/2028

(i)

1,375‌

1,226‌

4.88%,

07/01/2029

(h),(i)

3,725‌

3,309‌

Concentrix

Corp

6.65%,

08/02/2026

(j)

609‌

608‌

CWT

Travel

Group

Inc

8.50%,

11/19/2026

(i)

7,000‌

3,360‌

Fidelity

National

Information

Services

Inc

5.63%,

07/15/2052

821‌

802‌

Fiserv

Inc

4.40%,

07/01/2049

1,565‌

1,314‌

Microsoft

Corp

2.92%,

03/17/2052

3,992‌

2,916‌

Oracle

Corp

2.30%,

03/25/2028

2,412‌

2,128‌

3.60%,

04/01/2040

1,500‌

1,155‌

3.80%,

11/15/2037

2,969‌

2,411‌

4.00%,

11/15/2047

770‌

592‌

4.90%,

02/06/2033

692‌

670‌

5.55%,

02/06/2053

356‌

341‌

Playtika

Holding

Corp

4.25%,

03/15/2029

(i)

5,200‌

4,589‌

SS&C

Technologies

Inc

5.50%,

09/30/2027

(i)

3,350‌

3,236‌

Take-Two

Interactive

Software

Inc

4.95%,

03/28/2028

5,000‌

4,951‌

Twilio

Inc

3.88%,

03/15/2031

1,750‌

1,482‌

ZoomInfo

Technologies

LLC/ZoomInfo

Finance

Corp

3.88%,

02/01/2029

(i)

2,775‌

2,384‌

$

39,948‌

Sovereign

-

3

.52

%

Angolan

Government

International

Bond

8.00%,

11/26/2029

(i)

2,000‌

1,767‌

Argentine

Republic

Government

International

Bond

3.62%,

07/09/2035

(n)

4,225‌

1,310‌

Bahamas

Government

International

Bond

6.00%,

11/21/2028

1,425‌

1,163‌

9.00%,

06/16/2029

(i)

500‌

445‌

Bonos

de

la

Tesoreria

de

la

Republica

en

pesos

5.80%,

06/01/2024

(i)

CLP

3,125,000‌

3,693‌

Brazil

Notas

do

Tesouro

Nacional

Serie

F

9.76%,

01/01/2027

BRL

24,400‌

5,122‌

Colombian

TES

6.00%,

04/28/2028

COP

20,600,000‌

4,497‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

42

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Sovereign

(continued)

Czech

Republic

Government

Bond

1.00%,

06/26/2026

CZK

46,100‌

$

1,906‌

1.25%,

02/14/2025

34,000‌

1,467‌

2.40%,

09/17/2025

44,000‌

1,913‌

Dominican

Republic

International

Bond

6.85%,

01/27/2045

$

2,725‌

2,535‌

Ecuador

Government

International

Bond

3.50%,

07/31/2035

(n)

3,400‌

1,169‌

Egypt

Government

International

Bond

7.90%,

02/21/2048

2,550‌

1,408‌

El

Salvador

Government

International

Bond

7.65%,

06/15/2035

4,163‌

2,702‌

Hungary

Government

Bond

3.00%,

06/26/2024

HUF

1,450,000‌

3,867‌

15.02%,

04/22/2027

600,000‌

1,711‌

3

Month

Budapest

Interbank

Offered

Rate

+

0.00%

Hungary

Government

International

Bond

6.25%,

09/22/2032

$

2,900‌

2,976‌

Indonesia

Treasury

Bond

6.38%,

08/15/2028

IDR

32,800,000‌

2,211‌

6.50%,

02/15/2031

12,100,000‌

807‌

7.00%,

02/15/2033

46,300,000‌

3,226‌

Iraq

International

Bond

5.80%,

01/15/2028

$

3,711‌

3,439‌

Ivory

Coast

Government

International

Bond

5.25%,

03/22/2030

EUR

2,125‌

2,052‌

6.88%,

10/17/2040

2,650‌

2,331‌

Mexican

Bonos

7.75%,

11/23/2034

MXN

105,500‌

5,826‌

Mexico

Government

International

Bond

4.28%,

08/14/2041

$

2,681‌

2,213‌

6.05%,

01/11/2040

1,920‌

1,948‌

6.34%,

05/04/2053

400‌

408‌

Montenegro

Government

International

Bond

2.88%,

12/16/2027

EUR

2,075‌

1,933‌

Nigeria

Government

International

Bond

9.25%,

01/21/2049

$

2,425‌

2,104‌

Peru

Government

Bond

5.40%,

08/12/2034

PEN

3,600‌

894‌

6.15%,

08/12/2032

3,200‌

859‌

Peruvian

Government

International

Bond

7.30%,

08/12/2033

(i)

8,769‌

2,528‌

Republic

of

Cameroon

International

Bond

5.95%,

07/07/2032

(i)

EUR

2,175‌

1,768‌

Republic

of

Italy

Government

International

Bond

3.88%,

05/06/2051

$

1,013‌

729‌

Republic

of

Poland

Government

Bond

5.75%,

04/25/2029

PLN

5,775‌

1,474‌

6.00%,

10/25/2033

11,800‌

3,064‌

Republic

of

South

Africa

Government

Bond

8.88%,

02/28/2035

ZAR

78,550‌

3,653‌

Republic

of

South

Africa

Government

International

Bond

4.85%,

09/30/2029

$

1,475‌

1,333‌

7.30%,

04/20/2052

1,450‌

1,289‌

Romania

Government

Bond

4.85%,

04/22/2026

RON

9,700‌

2,079‌

Romanian

Government

International

Bond

7.13%,

01/17/2033

$

3,870‌

4,158‌

Senegal

Government

International

Bond

4.75%,

03/13/2028

EUR

1,300‌

1,272‌

5.38%,

06/08/2037

1,850‌

1,435‌

5.38%,

06/08/2037

(i)

700‌

543‌

Serbia

International

Bond

6.50%,

09/26/2033

$

2,050‌

2,054‌

State

Agency

of

Roads

of

Ukraine

0.00%,

06/24/2030

(d)

2,600‌

689‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Sovereign

(continued)

Tunisian

Republic

5.75%,

01/30/2025

$

725‌

$

506‌

6.38%,

07/15/2026

EUR

1,250‌

842‌

Ukraine

Government

International

Bond

0.00%,

05/21/2031

(d)

$

500‌

149‌

0.00%,

08/01/2041

(d),(n)

3,725‌

1,824‌

Venezuela

Government

International

Bond

0.00%,

10/13/2019

(d)

15,701‌

824‌

$

102,115‌

Supranational

Bank

-

0

.26

%

European

Bank

for

Reconstruction

&

Development

1.50%,

02/13/2025

2,019‌

1,909‌

Inter-American

Development

Bank

1.13%,

07/20/2028

2,884‌

2,472‌

International

Bank

for

Reconstruction

&

Development

0.75%,

11/24/2027

2,351‌

2,020‌

3.13%,

11/20/2025

1,205‌

1,160‌

$

7,561‌

Telecommunications

-

2

.62

%

America

Movil

SAB

de

CV

2.88%,

05/07/2030

2,600‌

2,254‌

3.63%,

04/22/2029

1,100‌

1,010‌

AT&T

Inc

2.45%,

03/15/2035

EUR

2,400‌

2,181‌

3.50%,

09/15/2053

$

1,400‌

950‌

3.85%,

06/01/2060

561‌

392‌

4.38%,

09/14/2029

GBP

900‌

1,054‌

4.50%,

05/15/2035

$

3,025‌

2,729‌

4.75%,

05/15/2046

1,623‌

1,383‌

4.90%,

08/15/2037

2,308‌

2,120‌

5.40%,

02/15/2034

(h)

915‌

900‌

Axian

Telecom

7.38%,

02/16/2027

(i)

2,200‌

2,019‌

British

Telecommunications

PLC

3.25%,

11/08/2029

(i)

3,100‌

2,722‌

C&W

Senior

Financing

DAC

6.88%,

09/15/2027

(i)

3,725‌

3,381‌

CommScope

Inc

4.75%,

09/01/2029

(i)

2,575‌

1,984‌

7.13%,

07/01/2028

(i)

350‌

231‌

8.25%,

03/01/2027

(i)

1,650‌

1,249‌

CommScope

Technologies

LLC

6.00%,

06/15/2025

(i)

543‌

492‌

Corning

Inc

5.45%,

11/15/2079

1,993‌

1,830‌

CT

Trust

5.13%,

02/03/2032

(i)

1,450‌

1,206‌

Digicel

International

Finance

Ltd/Digicel

international

Holdings

Ltd

8.75%,

05/25/2024

(i)

450‌

408‌

8.75%,

05/25/2024

4,300‌

3,902‌

Iliad

Holding

SASU

7.00%,

10/15/2028

(i)

1,000‌

939‌

Koninklijke

KPN

NV

5.75%,

09/17/2029

GBP

1,400‌

1,763‌

Level

3

Financing

Inc

3.63%,

01/15/2029

(i)

$

1,925‌

1,271‌

3.75%,

07/15/2029

(i)

700‌

459‌

4.25%,

07/01/2028

(i)

1,025‌

725‌

4.63%,

09/15/2027

(i)

125‌

95‌

Liquid

Telecommunications

Financing

Plc

5.50%,

09/04/2026

(i)

1,825‌

1,215‌

NTT

Finance

Corp

1.16%,

04/03/2026

(i)

1,463‌

1,314‌

Telefonica

Emisiones

SA

4.90%,

03/06/2048

1,607‌

1,330‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

43

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

TELUS

Corp

3.30%,

05/02/2029

CAD

3,400‌

$

2,336‌

T-Mobile

USA

Inc

3.00%,

02/15/2041

$

4,167‌

3,018‌

3.60%,

11/15/2060

768‌

530‌

5.65%,

01/15/2053

372‌

374‌

Turk

Telekomunikasyon

AS

4.88%,

06/19/2024

1,050‌

1,017‌

Verizon

Communications

Inc

2.50%,

05/16/2030

CAD

1,000‌

639‌

2.85%,

09/03/2041

$

1,966‌

1,382‌

3.00%,

11/20/2060

1,494‌

905‌

3.40%,

03/22/2041

1,831‌

1,391‌

3.55%,

03/22/2051

2,000‌

1,448‌

3.88%,

03/01/2052

655‌

505‌

4.81%,

03/15/2039

400‌

367‌

4.86%,

08/21/2046

550‌

500‌

5.05%,

05/09/2033

1,123‌

1,103‌

Viasat

Inc

5.63%,

09/15/2025

(i)

4,550‌

4,266‌

5.63%,

04/15/2027

(i)

725‌

653‌

6.50%,

07/15/2028

(i)

2,330‌

1,794‌

Vmed

O2

UK

Financing

I

PLC

4.25%,

01/31/2031

(i)

3,450‌

2,857‌

Vodafone

Group

PLC

4.38%,

02/19/2043

750‌

625‌

5.13%,

06/04/2081

(k)

7,900‌

5,746‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.07%

5.63%,

02/10/2053

370‌

359‌

5.75%,

02/10/2063

739‌

710‌

$

76,033‌

Transportation

-

0

.67

%

BNSF

Funding

Trust

I

6.61%,

12/15/2055

(k)

4,310‌

4,181‌

3

Month

USD

LIBOR

+

2.35%

Burlington

Northern

Santa

Fe

LLC

4.45%,

03/15/2043

1,011‌

910‌

5.20%,

04/15/2054

1,239‌

1,245‌

Canadian

Pacific

Railway

Co

1.35%,

12/02/2024

2,045‌

1,932‌

4.70%,

05/01/2048

877‌

790‌

CSX

Corp

4.50%,

11/15/2052

856‌

763‌

FedEx

Corp

5.25%,

05/15/2050

(h)

550‌

527‌

FedEx

Corp

2020-1

Class

AA

Pass

Through

Trust

1.88%,

08/20/2035

3,081‌

2,531‌

Georgian

Railway

JSC

4.00%,

06/17/2028

(i)

1,325‌

1,142‌

Ryder

System

Inc

5.25%,

06/01/2028

887‌

880‌

Transnet

SOC

Ltd

8.25%,

02/06/2028

(i)

1,800‌

1,792‌

Union

Pacific

Corp

3.38%,

02/14/2042

1,500‌

1,198‌

3.50%,

02/14/2053

2,000‌

1,536‌

$

19,427‌

Trucking

&

Leasing

-

0

.19

%

GATX

Corp

3.25%,

09/15/2026

1,416‌

1,308‌

Penske

Truck

Leasing

Co

Lp

/

PTL

Finance

Corp

3.40%,

11/15/2026

(i)

1,555‌

1,438‌

5.70%,

02/01/2028

(i)

1,320‌

1,307‌

6.05%,

08/01/2028

(i),(j)

882‌

885‌

6.20%,

06/15/2030

(i)

586‌

592‌

$

5,530‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Water

-

0

.08

%

American

Water

Capital

Corp

2.80%,

05/01/2030

$

800‌

$

698‌

Essential

Utilities

Inc

2.70%,

04/15/2030

1,250‌

1,060‌

3.35%,

04/15/2050

656‌

451‌

$

2,209‌

TOTAL

BONDS

$

2,019,193‌

SENIOR

FLOATING

RATE

INTERESTS

-

11

.16

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

0

.20

%

ABG

Intermediate

Holdings

2

LLC

8.70%,

12/21/2028

(p)

$

415‌

$

414‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

11.20%,

12/20/2029

(p)

2,210‌

2,149‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.00%

Clear

Channel

Outdoor

Holdings

Inc

8.78%,

08/07/2026

(p)

2,644‌

2,556‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.50%

Dotdash

Meredith

Inc

9.20%,

12/01/2028

(p)

737‌

695‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

$

5,814‌

Aerospace

&

Defense

-

0

.02

%

TransDigm

Inc

8.49%,

08/24/2028

(p)

654‌

654‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Airlines

-

0

.24

%

AAdvantage

Loyalty

IP

Ltd

9.81%,

03/10/2028

(p)

1,420‌

1,469‌

3

Month

USD

LIBOR

+

4.75%

Air

Canada

8.84%,

08/11/2028

(p)

594‌

594‌

3

Month

USD

LIBOR

+

3.50%

American

Airlines

Inc

0.00%,

02/15/2028

(p),(q)

375‌

371‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

Mileage

Plus

Holdings

LLC

10.76%,

06/21/2027

(p)

200‌

208‌

3

Month

USD

LIBOR

+

5.25%

SkyMiles

IP

Ltd

9.08%,

09/16/2027

(p)

1,215‌

1,262‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

United

Airlines

Inc

9.29%,

04/21/2028

(p)

444‌

444‌

3

Month

USD

LIBOR

+

3.75%

WestJet

Airlines

Ltd

8.25%,

12/11/2026

(p)

2,701‌

2,638‌

1

Month

USD

LIBOR

+

3.00%

$

6,986‌

Apparel

-

0

.03

%

Birkenstock

US

BidCo

Inc

8.55%,

04/28/2028

(p)

716‌

715‌

1

Month

USD

LIBOR

+

3.75%

Crocs

Inc

8.86%,

02/19/2029

(p)

227‌

228‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

$

943‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

44

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Parts

&

Equipment

-

0

.20

%

Clarios

Global

LP

8.85%,

04/19/2030

(p)

$

1,335‌

$

1,334‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

Dexko

Global

Inc

9.25%,

10/04/2028

(p)

233‌

225‌

1

Month

USD

LIBOR

+

3.75%

First

Brands

Group

LLC

10.25%,

03/24/2027

(p)

2,618‌

2,585‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

5.00%

14.13%,

03/24/2028

(p)

1,475‌

1,362‌

6

Month

USD

LIBOR

+

8.50%

Phinia

Inc

9.42%,

06/07/2028

(p)

175‌

175‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

$

5,681‌

Beverages

-

0

.07

%

City

Brewing

Co

LLC

9.07%,

04/05/2028

(p)

534‌

341‌

1

Month

USD

LIBOR

+

3.50%

Naked

Juice

LLC

8.59%,

01/24/2029

(p)

82‌

77‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.25%

11.34%,

01/24/2030

(p)

135‌

108‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

6.00%

Pegasus

Bidco

BV

9.34%,

05/05/2029

(p)

327‌

325‌

Secured

Overnight

Financing

Rate

+

4.25%

Triton

Water

Holdings

Inc

8.75%,

03/31/2028

(p)

1,269‌

1,226‌

3

Month

USD

LIBOR

+

3.50%

$

2,077‌

Building

Materials

-

0

.06

%

Chariot

Buyer

LLC

8.45%,

10/22/2028

(p)

819‌

806‌

1

Month

USD

LIBOR

+

3.50%

Standard

Industries

Inc/NJ

7.91%,

08/06/2028

(p)

585‌

585‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.25%

Zurn

LLC

7.19%,

10/04/2028

(p)

464‌

463‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.25%

$

1,854‌

Chemicals

-

0

.38

%

Aruba

Investments

Holdings

LLC

12.94%,

10/27/2028

(p)

8,680‌

7,812‌

1

Month

USD

LIBOR

+

7.75%

Axalta

Coating

Systems

US

Holdings

Inc

8.24%,

12/07/2029

(p)

475‌

476‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

Discovery

Purchaser

Corp

9.62%,

08/04/2029

(p)

263‌

256‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.38%

Ecovyst

Catalyst

Technologies

LLC

7.65%,

06/08/2028

(p)

219‌

218‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Herens

US

Holdco

Corp

9.27%,

07/03/2028

(p)

235‌

201‌

3

Month

USD

LIBOR

+

4.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Chemicals

(continued)

INEOS

US

Petrochem

LLC

7.97%,

01/29/2026

(p)

$

246‌

$

244‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

Nouryon

USA

LLC

9.32%,

04/02/2028

(p)

750‌

747‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Trinseo

Materials

Operating

SCA

7.54%,

09/06/2024

(p)

817‌

797‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.00%

WR

Grace

Holdings

LLC

9.31%,

09/22/2028

(p)

239‌

238‌

3

Month

USD

LIBOR

+

3.75%

$

10,989‌

Commercial

Services

-

1

.15

%

Avis

Budget

Car

Rental

LLC

6.97%,

08/06/2027

(p)

609‌

606‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.75%

8.70%,

03/16/2029

(p)

316‌

316‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

AVSC

Holding

Corp

15.00%,

PIK

0.00%,

10/15/2026

(o),(p)

207‌

213‌

Belron

Finance

US

LLC

7.56%,

10/30/2026

(p)

412‌

411‌

3

Month

USD

LIBOR

+

2.25%

Belron

Luxembourg

Sarl

8.16%,

04/18/2029

(p)

235‌

235‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

CHG

Healthcare

Services

Inc

8.44%,

09/29/2028

(p)

233‌

233‌

1

Month

USD

LIBOR

+

3.25%

Creative

Artists

Agency

LLC

8.82%,

11/26/2028

(p)

374‌

371‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Driven

Brands

Holdings

Inc

8.41%,

12/17/2028

(p)

826‌

810‌

12

Month

USD

LIBOR

+

3.00%

Element

Materials

Technology

Group

US

Holdings

Inc

9.59%,

04/12/2029

(p)

136‌

135‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.25%

9.60%,

06/22/2029

(p)

63‌

62‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.25%

Garda

World

Security

Corp

9.64%,

10/30/2026

(p)

250‌

249‌

1

Month

USD

LIBOR

+

4.25%

Hertz

Corp/The

8.47%,

06/14/2028

(p)

1,248‌

1,246‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

8.47%,

06/14/2028

(p)

239‌

238‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

KUEHG

Corp

10.24%,

05/22/2030

(p)

3,650‌

3,630‌

3

Month

USD

LIBOR

+

5.00%

Learning

Care

Group

US

No

2

Inc

12.89%,

03/13/2026

(p)

17,700‌

17,479‌

3

Month

USD

LIBOR

+

7.50%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

45

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

Omnia

Partners

0.00%,

07/19/2030

(p),(q)

$

411‌

$

411‌

0.00%,

07/19/2030

(p),(q)

39‌

39‌

Prime

Security

Services

Borrower

LLC

7.98%,

09/23/2026

(p)

2,255‌

2,252‌

3

Month

USD

LIBOR

+

2.75%

Sabert

Corp

9.72%,

12/10/2026

(p)

207‌

206‌

1

Month

USD

LIBOR

+

4.50%

Syniverse

Holdings

LLC/DE

12.24%,

05/13/2027

(p)

1,102‌

1,007‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

7.00%

Trans

Union

LLC

7.17%,

11/13/2026

(p)

410‌

408‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.75%

7.47%,

11/17/2028

(p)

571‌

570‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.25%

Travelport

Finance

Luxembourg

Sarl

6.20%,

PIK

7.25%,

02/28/2025

(o),(p)

5‌

5‌

3

Month

USD

LIBOR

+

7.00%

Verscend

Holding

Corp

9.43%,

08/27/2025

(p)

770‌

769‌

1

Month

USD

LIBOR

+

4.00%

Wand

NewCo

3

Inc

8.17%,

02/05/2026

(p)

770‌

768‌

1

Month

USD

LIBOR

+

3.00%

WEX

Inc

7.68%,

03/31/2028

(p)

233‌

233‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.25%

WMB

Holdings

Inc

8.67%,

11/01/2029

(p)

373‌

373‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

$

33,275‌

Computers

-

0

.09

%

Amentum

Government

Services

Holdings

LLC

9.22%,

02/15/2029

(p)

418‌

404‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Magenta

Buyer

LLC

10.03%,

07/27/2028

(p)

435‌

328‌

1

Month

USD

LIBOR

+

4.75%

McAfee

Corp

8.96%,

03/01/2029

(p)

651‌

629‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

NCR

Corp

7.78%,

08/28/2026

(p)

408‌

406‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Perforce

Software

Inc

8.94%,

07/01/2026

(p)

245‌

235‌

1

Month

USD

LIBOR

+

3.75%

Vision

Solutions

Inc

9.86%,

04/23/2028

(p)

407‌

388‌

3

Month

USD

LIBOR

+

4.00%

World

Wide

Tech

8.49%,

02/28/2030

(p)

249‌

248‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

$

2,638‌

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Consumer

Products

-

0

.10

%

Kronos

Acquisition

Holdings

Inc

9.25%,

12/22/2026

(p)

$

313‌

$

306‌

3

Month

USD

LIBOR

+

3.75%

11.38%,

12/22/2026

(p)

274‌

271‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.00%

VC

GB

Holdings

I

Corp

12.23%,

06/29/2029

(p)

2,560‌

2,240‌

3

Month

USD

LIBOR

+

6.75%

$

2,817‌

Distribution

&

Wholesale

-

0

.19

%

Core

&

Main

LP

7.86%,

07/27/2028

(p)

769‌

766‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Infinite

Bidco

LLC

12.50%,

02/24/2029

(p)

4,850‌

4,123‌

3

Month

USD

LIBOR

+

7.00%

Windsor

Holdings

III

LLC

0.00%,

06/21/2030

(p),(q)

710‌

707‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.50%

$

5,596‌

Diversified

Financial

Services

-

0

.04

%

Avolon

TLB

Borrower

1

US

LLC

7.75%,

06/08/2028

(p)

375‌

375‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

FleetCor

Technologies

Operating

Co

LLC

7.17%,

04/28/2028

(p)

769‌

764‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.75%

$

1,139‌

Electric

-

0

.13

%

PG&E

Corp

8.22%,

06/23/2025

(p)

770‌

767‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

Talen

Energy

Supply

LLC

9.59%,

04/26/2030

(p)

1,588‌

1,583‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

9.59%,

04/26/2030

(p)

1,287‌

1,282‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

$

3,632‌

Electronics

-

0

.02

%

Coherent

Corp

7.97%,

07/01/2029

(p)

208‌

208‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

Ingram

Micro

Inc

9.04%,

06/30/2028

(p)

295‌

294‌

3

Month

USD

LIBOR

+

3.50%

$

502‌

Engineering

&

Construction

-

0

.23

%

Apple

Bidco

LLC

7.97%,

07/14/2028

(p)

233‌

231‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

9.10%,

09/22/2028

(p)

233‌

233‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Brand

Industrial

Services

Inc

9.64%,

06/21/2024

(p)

5,511‌

5,494‌

3

Month

USD

LIBOR

+

4.25%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

46

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Engineering

&

Construction

(continued)

Brown

Group

Holding

LLC

7.70%,

06/07/2028

(p)

$

226‌

$

224‌

1

Month

USD

LIBOR

+

2.50%

8.85%,

06/08/2029

(p)

272‌

272‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

Centuri

Group

Inc

7.72%,

08/18/2028

(p)

362‌

361‌

3

Month

USD

LIBOR

+

2.50%

$

6,815‌

Entertainment

-

0

.62

%

AMC

Entertainment

Holdings

Inc

8.20%,

03/20/2026

(p)

2,214‌

1,721‌

1

Month

USD

LIBOR

+

3.00%

Bally's

Corp

8.84%,

08/06/2028

(p)

187‌

184‌

1

Month

USD

LIBOR

+

3.25%

Churchill

Downs

Inc

7.20%,

03/17/2028

(p)

840‌

837‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.00%

Cinemark

USA

Inc

8.97%,

05/21/2030

(p)

374‌

372‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

Crown

Finance

US

Inc

0.00%,

02/07/2025

(d),(p)

1,491‌

368‌

3

Month

USD

LIBOR

+

2.50%

0.00%,

09/30/2026

(d),(p)

746‌

184‌

3

Month

USD

LIBOR

+

2.75%

15.35%,

09/08/2023

(p)

1,739‌

1,753‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

10.00%

Crown

UK

Holdco

Ltd

0.00%,

02/28/2023

(d),(p)

564‌

139‌

3

Month

USD

LIBOR

+

2.75%

Delta

2

Lux

Sarl

8.10%,

01/15/2030

(p)

585‌

585‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Entain

Holdings

Gibraltar

Ltd

8.44%,

10/18/2029

(p)

780‌

779‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Everi

Holdings

Inc

7.69%,

06/30/2028

(p)

738‌

736‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Flutter

Financing

BV

8.75%,

09/16/2028

(p)

685‌

685‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Lions

Gate

Capital

Holdings

LLC

7.45%,

03/24/2025

(p)

230‌

229‌

3

Month

USD

LIBOR

+

2.25%

Merlin

Entertainment

8.79%,

11/12/2026

(p)

204‌

203‌

3

Month

USD

LIBOR

+

3.25%

8.80%,

11/12/2026

(p)

29‌

29‌

3

Month

USD

LIBOR

+

3.25%

NAI

Entertainment

Holdings

LLC

7.70%,

05/08/2025

(p)

3,053‌

2,839‌

3

Month

USD

LIBOR

+

2.50%

Nascar

Holdings

LLC

7.72%,

10/19/2026

(p)

856‌

857‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Entertainment

(continued)

PCI

Gaming

Authority

7.72%,

05/29/2026

(p)

$

347‌

$

347‌

1

Month

USD

LIBOR

+

2.50%

Penn

Entertainment

Inc

8.17%,

04/21/2029

(p)

191‌

191‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

Scientific

Games

Holdings

LP

8.77%,

02/04/2029

(p)

227‌

224‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.50%

Scientific

Games

International

Inc

8.30%,

04/14/2029

(p)

1,177‌

1,173‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

SeaWorld

Parks

&

Entertainment

Inc

8.25%,

08/25/2028

(p)

660‌

660‌

1

Month

USD

LIBOR

+

3.00%

Stars

Group

Holdings

BV

7.75%,

07/21/2026

(p)

1,729‌

1,727‌

3

Month

USD

LIBOR

+

2.25%

William

Morris

Endeavor

Entertainment

LLC

8.18%,

05/16/2025

(p)

1,073‌

1,070‌

3

Month

USD

LIBOR

+

2.75%

$

17,892‌

Environmental

Control

-

0

.07

%

Covanta

Holding

Corp

7.60%,

11/17/2028

(p)

265‌

265‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

7.61%,

11/17/2028

(p)

20‌

20‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

GFL

Environmental

Inc

8.15%,

05/27/2027

(p)

1,447‌

1,449‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

Win

Waste

Innovations

Holdings

Inc

7.97%,

03/24/2028

(p)

342‌

301‌

3

Month

USD

LIBOR

+

2.75%

$

2,035‌

Food

-

0

.08

%

8th

Avenue

Food

&

Provisions

Inc

8.97%,

09/19/2025

(p)

326‌

301‌

1

Month

USD

LIBOR

+

3.75%

CHG

PPC

Parent

LLC

8.22%,

12/08/2028

(p)

233‌

230‌

1

Month

USD

LIBOR

+

3.00%

Froneri

US

Inc

7.67%,

01/31/2027

(p)

233‌

232‌

1

Month

USD

LIBOR

+

2.25%

Heritage

Grocers

Group

LLC

12.09%,

08/01/2029

(p)

249‌

248‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

6.75%

Total

Produce

USA

Holdings

Inc

7.66%,

08/03/2028

(p)

412‌

408‌

1

Month

USD

LIBOR

+

2.00%

US

Foods

Inc

7.22%,

09/14/2026

(p)

196‌

196‌

1

Month

USD

LIBOR

+

2.00%

8.18%,

11/22/2028

(p)

603‌

603‌

1

Month

USD

LIBOR

+

2.75%

$

2,218‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

47

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Forest

Products

&

Paper

-

0

.02

%

Asplundh

Tree

Expert

LLC

6.95%,

09/06/2027

(p)

$

532‌

$

531‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.75%

Healthcare

-

Products

-

0

.25

%

Avantor

Funding

Inc

8.33%,

11/08/2027

(p)

114‌

113‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.25%

Bausch

+

Lomb

Corp

8.59%,

05/10/2027

(p)

3,080‌

3,005‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Curia

Global

Inc

8.90%,

08/30/2026

(p)

271‌

235‌

1

Month

USD

LIBOR

+

3.75%

Embecta

Corp

8.34%,

03/31/2029

(p)

204‌

203‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

ICU

Medical

Inc

7.89%,

12/15/2028

(p)

233‌

233‌

1

Month

USD

LIBOR

+

2.50%

Insulet

Corp

8.47%,

05/04/2028

(p)

590‌

591‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Medline

Borrower

LP

8.35%,

10/23/2028

(p)

2,168‌

2,144‌

1

Month

USD

LIBOR

+

3.25%

Viant

Medical

Holdings

Inc

8.94%,

07/02/2025

(p)

738‌

719‌

1

Month

USD

LIBOR

+

3.75%

$

7,243‌

Healthcare

-

Services

-

0

.47

%

AHP

Health

Partners

Inc

8.93%,

08/24/2028

(p)

363‌

362‌

1

Month

USD

LIBOR

+

3.50%

Aveanna

Healthcare

LLC

12.48%,

12/09/2029

(p)

1,720‌

1,101‌

1

Month

USD

LIBOR

+

7.00%

DaVita

Inc

6.97%,

08/12/2026

(p)

181‌

179‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.75%

Eyecare

Partners

LLC

12.25%,

10/14/2029

(p)

6,544‌

3,697‌

3

Month

USD

LIBOR

+

6.75%

Global

Medical

Response

Inc

9.47%,

03/14/2025

(p)

367‌

224‌

1

Month

USD

LIBOR

+

4.25%

9.78%,

10/02/2025

(p)

1,114‌

678‌

1

Month

USD

LIBOR

+

4.25%

ICON

Luxembourg

Sarl

7.75%,

07/03/2028

(p)

613‌

613‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

2.25%

National

Mentor

Holdings

Inc

12.59%,

03/02/2029

(p)

725‌

363‌

3

Month

USD

LIBOR

+

7.25%

Phoenix

Guarantor

Inc

8.47%,

03/05/2026

(p)

230‌

228‌

1

Month

USD

LIBOR

+

3.25%

Phoenix

Newco

Inc

8.35%,

11/15/2028

(p)

1,908‌

1,899‌

1

Month

USD

LIBOR

+

3.25%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Services

(continued)

Select

Medical

Corp

7.70%,

03/06/2025

(p)

$

1,809‌

$

1,804‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Sound

Inpatient

Physicians

Holdings

LLC

12.02%,

06/26/2026

(p)

5,750‌

1,437‌

1

Month

USD

LIBOR

+

6.75%

Surgery

Center

Holdings

Inc

9.12%,

09/03/2026

(p)

1,160‌

1,159‌

1

Month

USD

LIBOR

+

3.75%

$

13,744‌

Home

Builders

-

0

.07

%

Tecta

America

Corp

13.72%,

04/09/2029

(p)

2,100‌

1,964‌

1

Month

USD

LIBOR

+

8.50%

Home

Furnishings

-

0

.06

%

AI

Aqua

Merger

Sub

Inc

8.94%,

07/30/2028

(p)

895‌

883‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

MillerKnoll

Inc

7.22%,

07/19/2028

(p)

770‌

751‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.00%

Weber-Stephen

Products

LLC

8.57%,

10/30/2027

(p)

241‌

214‌

1

Month

USD

LIBOR

+

3.25%

$

1,848‌

Insurance

-

0

.74

%

Acrisure

LLC

8.93%,

02/15/2027

(p)

590‌

574‌

1

Month

USD

LIBOR

+

3.50%

Alliant

Holdings

Intermediate

LLC

8.72%,

11/04/2027

(p)

474‌

472‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

8.92%,

11/06/2027

(p)

770‌

768‌

1

Month

USD

LIBOR

+

3.50%

AmWINS

Group

Inc

8.18%,

02/18/2028

(p)

100‌

100‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

AssuredPartners

Inc

8.60%,

02/12/2027

(p)

593‌

589‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Asurion

LLC

0.00%,

08/18/2028

(p),(q)

468‌

448‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.25%

8.54%,

11/03/2024

(p)

854‌

853‌

1

Month

USD

LIBOR

+

3.00%

8.79%,

07/31/2027

(p)

452‌

431‌

1

Month

USD

LIBOR

+

3.25%

10.44%,

01/20/2029

(p)

5,120‌

4,462‌

1

Month

USD

LIBOR

+

5.25%

10.44%,

01/20/2029

(p)

2,300‌

2,005‌

1

Month

USD

LIBOR

+

5.25%

10.44%,

01/20/2029

(p)

291‌

254‌

1

Month

USD

LIBOR

+

5.25%

10.47%,

01/31/2028

(p)

7,350‌

6,513‌

1

Month

USD

LIBOR

+

5.25%

BroadStreet

Partners

Inc

8.22%,

01/27/2027

(p)

917‌

912‌

1

Month

USD

LIBOR

+

3.00%

8.47%,

01/27/2027

(p)

233‌

232‌

1

Month

USD

LIBOR

+

3.25%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

48

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

(continued)

HUB

International

Ltd

9.07%,

10/30/2029

(p)

$

189‌

$

189‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

9.58%,

06/08/2030

(p)

744‌

747‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.25%

Ryan

Specialty

LLC

8.42%,

09/01/2027

(p)

823‌

822‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

USI

Inc/NY

8.99%,

11/14/2029

(p)

1,154‌

1,153‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

$

21,524‌

Internet

-

0

.72

%

CNT

Holdings

I

Corp

8.80%,

11/08/2027

(p)

678‌

676‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

12.05%,

11/06/2028

(p)

8,701‌

8,527‌

1

Month

USD

LIBOR

+

6.75%

Gen

Digital

Inc

7.42%,

09/12/2029

(p)

2,077‌

2,069‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.00%

MH

Sub

I

LLC

11.35%,

02/12/2029

(p)

7,550‌

6,538‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.25%

Proofpoint

Inc

8.47%,

08/31/2028

(p)

244‌

240‌

3

Month

USD

LIBOR

+

3.25%

Ten-X

LLC

10.38%,

05/26/2028

(p)

3,032‌

2,872‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.00%

$

20,922‌

Investment

Companies

-

0

.20

%

Nexus

Buyer

LLC

11.45%,

11/05/2029

(p)

6,600‌

5,940‌

1

Month

USD

LIBOR

+

6.25%

Leisure

Products

&

Services

-

0

.19

%

Alterra

Mountain

Co

8.69%,

08/17/2028

(p)

590‌

589‌

1

Month

USD

LIBOR

+

3.50%

Carnival

Corp

8.43%,

06/30/2025

(p)

591‌

590‌

6

Month

USD

LIBOR

+

3.00%

8.68%,

10/18/2028

(p)

331‌

329‌

6

Month

USD

LIBOR

+

3.25%

ClubCorp

Holdings

Inc

8.29%,

09/18/2024

(p)

1,994‌

1,942‌

3

Month

USD

LIBOR

+

2.75%

Equinox

Holdings

Inc

8.73%,

03/08/2024

(p)

1,230‌

1,154‌

3

Month

USD

LIBOR

+

3.00%

Hayward

Industries

Inc

8.18%,

05/28/2028

(p)

409‌

400‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

SRAM

LLC

7.94%,

05/18/2028

(p)

403‌

401‌

1

Month

USD

LIBOR

+

2.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Leisure

Products

&

Services

(continued)

Topgolf

Callaway

Brands

Corp

8.92%,

03/14/2030

(p)

$

249‌

$

249‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

$

5,654‌

Lodging

-

0

.09

%

Fertitta

Entertainment

LLC/NV

9.10%,

01/13/2029

(p)

2,117‌

2,092‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Hilton

Worldwide

Finance

LLC

7.15%,

06/18/2026

(p)

375‌

375‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.75%

$

2,467‌

Machinery

-

Diversified

-

0

.73

%

Ali

Group

North

America

Corp

7.22%,

07/30/2029

(p)

668‌

667‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.00%

Chart

Industries

Inc

9.10%,

12/07/2029

(p)

204‌

204‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

Copeland

8.26%,

05/03/2030

(p)

376‌

376‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

Engineered

Machinery

Holdings

Inc

11.54%,

05/21/2029

(p)

19,333‌

18,270‌

3

Month

USD

LIBOR

+

6.00%

TK

Elevator

US

Newco

Inc

8.60%,

07/30/2027

(p)

924‌

920‌

6

Month

USD

LIBOR

+

3.50%

Victory

Buyer

LLC

9.26%,

11/18/2028

(p)

779‌

710‌

1

Month

USD

LIBOR

+

3.75%

$

21,147‌

Media

-

0

.33

%

Altice

Financing

SA

10.31%,

10/31/2027

(p)

981‌

872‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.00%

Cengage

Learning

Inc

10.32%,

07/14/2026

(p)

1,235‌

1,220‌

6

Month

USD

LIBOR

+

4.75%

CSC

Holdings

LLC

9.72%,

01/16/2028

(p)

1,216‌

1,116‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

Diamond

Sports

Group

LLC

0.00%,

08/24/2026

(d),(p)

2,475‌

67‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Directv

Financing

LLC

10.22%,

08/02/2027

(p)

1,168‌

1,160‌

1

Month

USD

LIBOR

+

5.00%

Gray

Television

Inc

7.73%,

01/02/2026

(p)

238‌

235‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

iHeartCommunications

Inc

8.22%,

05/01/2026

(p)

1,532‌

1,377‌

1

Month

USD

LIBOR

+

3.00%

McGraw-Hill

Education

Inc

10.10%,

07/28/2028

(p)

693‌

672‌

1

Month

USD

LIBOR

+

4.75%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

49

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

Nexstar

Media

Inc

7.72%,

09/18/2026

(p)

$

304‌

$

304‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Radiate

Holdco

LLC

8.48%,

09/25/2026

(p)

443‌

372‌

1

Month

USD

LIBOR

+

3.25%

Univision

Communications

Inc

8.18%,

03/15/2024

(p)

128‌

127‌

3

Month

USD

LIBOR

+

2.75%

UPC

Financing

Partnership

8.26%,

01/30/2029

(p)

375‌

365‌

1

Month

USD

LIBOR

+

2.93%

Virgin

Media

Bristol

LLC

7.84%,

01/31/2028

(p)

420‌

409‌

1

Month

USD

LIBOR

+

2.50%

8.31%,

03/30/2031

(p)

375‌

368‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

WideOpenWest

Finance

LLC

8.24%,

12/20/2028

(p)

233‌

229‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.00%

Ziggo

Financing

Partnership

7.83%,

04/28/2028

(p)

658‌

639‌

1

Month

USD

LIBOR

+

2.50%

$

9,532‌

Metal

Fabrication

&

Hardware

-

0

.01

%

Grinding

Media

Inc

9.53%,

10/12/2028

(p)

233‌

228‌

1

Month

USD

LIBOR

+

4.00%

Mining

-

0

.16

%

Arctic

Canadian

Diamond

Co

Ltd

10.00%,

12/31/2027

(e),(p)

4,510‌

4,510‌

1

Month

USD

LIBOR

+

5.00%

Arsenal

AIC

Parent

LLC

0.00%,

07/26/2030

(p),(q)

105‌

105‌

$

4,615‌

Miscellaneous

Manufacturers

-

0

.05

%

Gates

Global

LLC

7.70%,

03/31/2027

(p)

1,412‌

1,408‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Oil

&

Gas

-

0

.05

%

Gulf

Finance

LLC

12.01%,

08/25/2026

(p)

1,528‌

1,529‌

1

Month

USD

LIBOR

+

6.75%

Packaging

&

Containers

-

0

.10

%

Berry

Global

Inc

7.29%,

07/01/2026

(p)

338‌

338‌

1

Month

USD

LIBOR

+

1.75%

Clydesdale

Acquisition

Holdings

Inc

9.59%,

04/13/2029

(p)

678‌

671‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.18%

Kloeckner

Pentaplast

of

America

Inc

10.10%,

02/12/2026

(p)

489‌

461‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

4.75%

LABL

Inc

10.42%,

10/28/2028

(p)

264‌

263‌

1

Month

USD

LIBOR

+

5.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

Pactiv

Evergreen

Group

Holdings

Inc

8.47%,

02/05/2026

(p)

$

494‌

$

493‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

8.47%,

09/22/2028

(p)

462‌

461‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

TricorBraun

Holdings

Inc

8.68%,

03/03/2028

(p)

233‌

230‌

1

Month

USD

LIBOR

+

3.25%

$

2,917‌

Pharmaceuticals

-

0

.19

%

Gainwell

Acquisition

Corp

9.34%,

10/01/2027

(p)

272‌

267‌

3

Month

USD

LIBOR

+

4.00%

Grifols

Worldwide

Operations

USA

Inc

7.36%,

11/15/2027

(p)

658‌

649‌

1

Month

USD

LIBOR

+

2.00%

Jazz

Financing

Lux

Sarl

8.86%,

05/05/2028

(p)

2,603‌

2,599‌

1

Month

USD

LIBOR

+

3.50%

Organon

&

Co

8.26%,

06/02/2028

(p)

1,682‌

1,675‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.00%

Perrigo

Investments

LLC

7.45%,

04/20/2029

(p)

262‌

260‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

PRA

Health

Sciences

Inc

7.75%,

07/03/2028

(p)

153‌

153‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

2.25%

$

5,603‌

Pipelines

-

0

.10

%

Buckeye

Partners

LP

7.45%,

11/01/2026

(p)

412‌

411‌

1

Month

USD

LIBOR

+

2.25%

Freeport

LNG

Investments

LLLP

8.47%,

11/17/2026

(p)

1,003‌

986‌

3

Month

USD

LIBOR

+

3.00%

9.09%,

12/21/2028

(p)

413‌

408‌

3

Month

USD

LIBOR

+

3.50%

Oryx

Midstream

Services

Permian

Basin

LLC

8.50%,

10/04/2028

(p)

204‌

204‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

TransMontaigne

Operating

Co

LP

8.93%,

11/03/2028

(p)

412‌

408‌

1

Month

USD

LIBOR

+

3.50%

Traverse

Midstream

Partners

LLC

8.94%,

09/21/2024

(p)

509‌

506‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

$

2,923‌

Real

Estate

-

0

.01

%

Cushman

&

Wakefield

US

Borrower

LLC

7.96%,

08/21/2025

(p)

13‌

13‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

8.45%,

01/31/2030

(p)

389‌

375‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

$

388‌

Retail

-

0

.21

%

1011778

BC

ULC

7.18%,

11/19/2026

(p)

571‌

567‌

1

Month

USD

LIBOR

+

1.75%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

50

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Retail

(continued)

IRB

Holding

Corp

8.20%,

12/15/2027

(p)

$

992‌

$

985‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

Jo-Ann

Stores

LLC

10.36%,

07/07/2028

(p)

967‌

478‌

3

Month

USD

LIBOR

+

4.75%

LS

Group

OpCo

Acquistion

LLC

8.48%,

11/02/2027

(p)

201‌

200‌

1

Month

USD

LIBOR

+

3.25%

Michaels

Cos

Inc/The

9.75%,

04/15/2028

(p)

233‌

214‌

3

Month

USD

LIBOR

+

4.25%

PetSmart

LLC

9.12%,

02/11/2028

(p)

2,409‌

2,405‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

Reverb

Buyer

Inc

8.61%,

10/06/2028

(p)

259‌

248‌

3

Month

USD

LIBOR

+

3.50%

RH

7.69%,

10/20/2028

(p)

266‌

258‌

1

Month

USD

LIBOR

+

2.50%

SRS

Distribution

Inc

8.92%,

06/02/2028

(p)

212‌

208‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.50%

Staples

Inc

10.30%,

04/09/2026

(p)

484‌

415‌

3

Month

USD

LIBOR

+

5.00%

$

5,978‌

Semiconductors

-

0

.14

%

Altar

Bidco

Inc

10.49%,

02/01/2030

(p)

3,570‌

3,254‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

5.60%

Bright

Bidco

BV

14.05%,

10/31/2027

(p)

766‌

280‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

8.00%

Synaptics

Inc

7.74%,

10/20/2028

(p)

232‌

230‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.25%

Ultra

Clean

Holdings

Inc

8.94%,

08/27/2025

(p)

191‌

192‌

1

Month

USD

LIBOR

+

3.75%

$

3,956‌

Software

-

1

.72

%

Applied

Systems

Inc

11.99%,

09/19/2027

(p)

2,679‌

2,679‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

6.75%

AthenaHealth

Group

Inc

8.81%,

02/15/2029

(p)

4,360‌

4,226‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

8.81%,

02/15/2029

(p)

3‌

3‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

9.35%,

02/15/2029

(p)

10‌

10‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Avaya

Inc

6.54%,

PIK

7.00%,

07/31/2028

(o),(p)

1,711‌

1,418‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

7.50%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

Boxer

Parent

Co

Inc

8.97%,

10/02/2025

(p)

$

563‌

$

561‌

1

Month

USD

LIBOR

+

3.75%

Camelot

Finance

SA

8.43%,

10/30/2026

(p)

808‌

807‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

Camelot

US

Acquisition

LLC

8.43%,

10/30/2026

(p)

345‌

345‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

CCC

Intelligent

Solutions

Inc

7.47%,

09/21/2028

(p)

233‌

233‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.25%

Central

Parent

Inc

9.49%,

06/07/2029

(p)

609‌

609‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.50%

Ceridian

HCM

Holding

Inc

7.98%,

04/04/2025

(p)

786‌

785‌

1

Month

USD

LIBOR

+

2.50%

Cloudera

Inc

11.42%,

10/08/2029

(p)

1,660‌

1,549‌

1

Month

USD

LIBOR

+

6.00%

DTI

Holdco

Inc

9.80%,

04/26/2029

(p)

776‌

727‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.75%

Dun

&

Bradstreet

Corp/The

8.42%,

02/06/2026

(p)

745‌

744‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

Epicor

Software

Corp

8.47%,

07/30/2027

(p)

1,694‌

1,682‌

1

Month

USD

LIBOR

+

3.25%

Finastra

USA

Inc

9.23%,

06/13/2024

(p)

1,950‌

1,887‌

3

Month

USD

LIBOR

+

3.50%

Genesys

Cloud

Services

Holdings

II

LLC

9.20%,

12/01/2027

(p)

1,709‌

1,705‌

1

Month

USD

LIBOR

+

4.00%

IGT

Holding

IV

AB

8.71%,

03/31/2028

(p)

410‌

406‌

3

Month

USD

LIBOR

+

3.40%

Informatica

LLC

8.18%,

10/27/2028

(p)

1,005‌

998‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Loyalty

Ventures

Inc

0.00%,

11/03/2027

(d),(p)

1,608‌

161‌

1

Month

USD

LIBOR

+

4.50%

Mitchell

International

Inc

11.69%,

10/15/2029

(p)

3,060‌

2,731‌

3

Month

USD

LIBOR

+

6.50%

Open

Text

Corp

8.92%,

11/16/2029

(p)

2,186‌

2,188‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Physician

Partners

LLC

9.39%,

12/26/2028

(p)

181‌

173‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Quartz

AcquireCo

LLC

8.82%,

04/13/2030

(p)

250‌

249‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

51

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

Rackspace

Technology

Global

Inc

8.03%,

02/15/2028

(p)

$

2,189‌

$

960‌

3

Month

USD

LIBOR

+

2.75%

RealPage

Inc

8.21%,

04/24/2028

(p)

59‌

58‌

1

Month

USD

LIBOR

+

3.00%

Riverbed

Technology

9.74%,

07/01/2028

(p)

521‌

302‌

3

Month

USD

LIBOR

+

4.50%

Rocket

Software

Inc

9.47%,

11/27/2025

(p)

249‌

248‌

1

Month

USD

LIBOR

+

4.25%

Skopima

Consilio

Parent

LLC

12.69%,

05/14/2029

(p)

4,760‌

4,308‌

1

Month

USD

LIBOR

+

7.50%

Sophia

LP

9.04%,

10/07/2027

(p)

769‌

764‌

3

Month

USD

LIBOR

+

3.50%

SS&C

Technologies

Inc

6.97%,

04/16/2025

(p)

1,136‌

1,135‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.75%

UKG

Inc

8.62%,

05/04/2026

(p)

1,732‌

1,721‌

3

Month

USD

LIBOR

+

3.25%

9.22%,

05/04/2026

(p)

590‌

589‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.75%

10.62%,

05/03/2027

(p)

5,780‌

5,697‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

5.25%

10.62%,

05/03/2027

(p)

5,050‌

4,977‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

5.25%

West

Technology

Group

LLC

9.30%,

04/10/2027

(p)

1,163‌

1,107‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Zelis

Payments

Buyer

Inc

8.69%,

09/30/2026

(p)

583‌

582‌

1

Month

USD

LIBOR

+

3.50%

ZoomInfo

LLC

7.95%,

02/23/2028

(p)

417‌

417‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

$

49,741‌

Telecommunications

-

0

.49

%

Altice

France

SA/France

9.26%,

01/31/2026

(p)

246‌

218‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.69%

9.32%,

08/14/2026

(p)

1,176‌

1,040‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

CommScope

Inc

8.44%,

04/06/2026

(p)

1,047‌

973‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Cyxtera

DC

Holdings

Inc

0.00%,

05/01/2024

(d),(p)

1,305‌

708‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

13.76%,

12/07/2023

(p)

435‌

433‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

8.50%

Dawn

Acquisitions

LLC

8.97%,

12/31/2025

(p)

2,547‌

1,904‌

3

Month

USD

LIBOR

+

3.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

Delta

Topco

Inc

9.07%,

12/01/2027

(p)

$

624‌

$

608‌

3

Month

USD

LIBOR

+

3.75%

EOS

US

Finco

LLC

11.27%,

08/03/2029

(p)

296‌

292‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

6.00%

Frontier

Communications

Holdings

LLC

9.00%,

05/01/2028

(p)

2,323‌

2,202‌

3

Month

USD

LIBOR

+

3.75%

Gogo

Intermediate

Holdings

LLC

8.97%,

04/28/2028

(p)

703‌

704‌

3

Month

USD

LIBOR

+

3.75%

Intelsat

Jackson

Holdings

SA

9.44%,

01/26/2029

(p)

1,119‌

1,116‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

4.25%

Iridium

Satellite

LLC

7.70%,

11/06/2026

(p)

713‌

712‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Level

3

Financing

Inc

7.18%,

02/28/2027

(p)

160‌

150‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.75%

MLN

US

Holdco

LLC

5.34%,

11/30/2025

(p)

824‌

99‌

6

Month

USD

LIBOR

+

4.50%

12.11%,

10/17/2027

(p)

537‌

179‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

6.80%

Viasat

Inc

9.60%,

02/23/2029

(p)

248‌

237‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

Xplornet

Communications

Inc

12.22%,

09/30/2029

(p)

5,510‌

2,631‌

1

Month

USD

LIBOR

+

7.00%

Zayo

Group

Holdings

Inc

8.43%,

02/19/2027

(p)

185‌

141‌

1

Month

USD

LIBOR

+

3.00%

$

14,347‌

Transportation

-

0

.14

%

ASP

LS

Acquisition

Corp

12.69%,

04/30/2029

(p)

4,990‌

3,842‌

6

Month

USD

LIBOR

+

7.50%

Genesee

&

Wyoming

Inc

7.34%,

12/30/2026

(p)

94‌

94‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

2.00%

$

3,936‌

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

323,642‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

7

.62

%

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

3

.41

%

2.00%,

05/01/2036

$

3,489‌

$

3,086‌

2.00%,

02/01/2051

5,466‌

4,429‌

2.00%,

03/01/2051

5,237‌

4,252‌

2.00%,

07/01/2051

6,208‌

5,031‌

2.00%,

11/01/2051

5,272‌

4,307‌

2.00%,

12/01/2051

2,642‌

2,151‌

2.00%,

02/01/2052

3,516‌

2,893‌

2.50%,

07/01/2037

2,005‌

1,823‌

2.50%,

09/01/2051

5,045‌

4,256‌

2.50%,

12/01/2051

2,013‌

1,708‌

2.50%,

12/01/2051

5,117‌

4,365‌

2.50%,

12/01/2051

3,669‌

3,120‌

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

52

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

2.50%,

01/01/2052

$

2,311‌

$

1,969‌

2.50%,

01/01/2052

3,752‌

3,183‌

3.00%,

02/01/2052

3,377‌

2,968‌

3.00%,

03/01/2052

5,443‌

4,822‌

3.00%,

03/01/2052

4,741‌

4,151‌

3.50%,

05/01/2052

4,620‌

4,220‌

3.50%,

06/01/2052

5,146‌

4,667‌

4.00%,

08/01/2052

3,565‌

3,338‌

4.00%,

03/01/2053

4,187‌

3,927‌

4.50%,

08/01/2038

(r)

1,000‌

979‌

4.50%,

10/01/2052

2,376‌

2,306‌

4.50%,

02/01/2053

2,683‌

2,574‌

5.00%,

08/01/2038

(r)

1,500‌

1,490‌

5.00%,

09/01/2053

(r)

7,000‌

6,840‌

5.50%,

09/01/2053

(r)

5,750‌

5,711‌

6.00%,

09/01/2053

(r)

4,250‌

4,274‌

$

98,840‌

Government

National

Mortgage

Association

(GNMA)

-

1

.41

%

2.00%,

01/20/2051

3,084‌

2,586‌

2.00%,

07/20/2051

3,041‌

2,550‌

2.50%,

04/20/2051

3,626‌

3,137‌

2.50%,

09/20/2051

2,468‌

2,129‌

3.00%,

07/20/2051

3,534‌

3,158‌

3.00%,

09/20/2051

2,345‌

2,093‌

3.50%,

09/20/2047

2,132‌

1,983‌

3.50%,

03/20/2048

2,292‌

2,134‌

4.00%,

03/20/2049

3,004‌

2,858‌

4.50%,

05/20/2048

2,769‌

2,701‌

5.00%,

08/20/2053

(r)

4,000‌

3,919‌

5.50%,

08/20/2053

(r)

4,000‌

3,975‌

6.00%,

08/20/2053

(r)

3,500‌

3,517‌

6.50%,

08/20/2053

(r)

4,000‌

4,064‌

$

40,804‌

U.S.

Treasury

-

1

.52

%

1.88%,

11/15/2051

2,395‌

1,532‌

2.25%,

02/15/2052

1,521‌

1,067‌

2.75%,

11/15/2042

1,191‌

960‌

2.88%,

05/15/2032

2,874‌

2,640‌

2.88%,

05/15/2052

6,633‌

5,341‌

3.25%,

05/15/2042

2,281‌

1,995‌

3.38%,

05/15/2033

5,529‌

5,274‌

3.50%,

04/30/2028

541‌

525‌

3.63%,

05/31/2028

331‌

323‌

3.63%,

03/31/2030

367‌

357‌

3.63%,

02/15/2053

7,886‌

7,355‌

3.75%,

05/31/2030

435‌

426‌

3.75%,

06/30/2030

3,083‌

3,022‌

3.88%,

02/15/2043

3,000‌

2,866‌

3.88%,

05/15/2043

636‌

608‌

4.00%,

06/30/2028

298‌

295‌

4.13%,

01/31/2025

2,000‌

1,970‌

4.63%,

03/15/2026

7,700‌

7,701‌

$

44,257‌

U.S.

Treasury

Bill

-

1

.28

%

5.20%,

09/05/2023

(s)

4,700‌

4,676‌

5.21%,

08/03/2023

(s)

2,525‌

2,524‌

5.23%,

09/14/2023

(s)

3,750‌

3,726‌

5.37%,

12/28/2023

(s)

26,675‌

26,094‌

$

37,020‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

220,921‌

Total

Investments

$

2,944,774‌

Other

Assets

and

Liabilities

-  (1.53)%

(

44,512‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,900,262‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$46,787

or

1.61%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

(g)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(h)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$44,932

or

1.55%

of

net

assets.

(i)

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

$734,953

or

25.34%

of

net

assets.

(j)

Security

purchased

on

a

when-issued

basis.

(k)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(l)

Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$69,397

or

2.39%

of

net

assets.

(m)

Security

is

an

Interest

Only

Strip.

(n)

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.

(o)

Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(p)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(q)

This

Senior

Floating

Rate

Note

will

settle

after

July

31,

2023,

at

which

time

the

interest

rate

will

be

determined.

(r)

Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(s)

Rate

shown

is

the

discount

rate

of

the

original

purchase.

Portfolio

Summary

Sector

Percent

Financial

24

.58‌

%

Mortgage

Securities

9

.33‌

%

Consumer,

Non-cyclical

9

.29‌

%

Communications

7

.57‌

%

Consumer,

Cyclical

7

.37‌

%

Industrial

6

.97‌

%

Government

6

.71‌

%

Basic

Materials

6

.29‌

%

Money

Market

Funds

6

.14‌

%

Energy

5

.29‌

%

Technology

4

.44‌

%

Utilities

3

.83‌

%

Closed-End

Funds

2

.03‌

%

Exchange-Traded

Funds

1

.44‌

%

Asset

Backed

Securities

0

.25‌

%

Other

Assets

and

Liabilities

(

1

.53‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Diversified

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

53

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

1,944,389‌

$

1,780,657‌

$

163,732‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

156,621‌

515,965‌

672,586‌

—‌

$

156,621‌

$

2,460,354‌

$

2,453,243‌

$

163,732‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

2,526‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

633‌

—‌

—‌

—‌

$

3,159‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Avaya

Holdings

Corp

05/19/2023

$

179‌

$

88‌

0.00%

Bright

Bidco

12/09/2022

320‌

5‌

0.00%

High

Ridge

Brands

-

Escrow  

0.00%,

03/15/2025

12/29/2020

14,671‌

—‌

0.00%

Material

Sciences

Corp  

12.79%,

PIK

12.79%,

01/09/2024

12/22/2016-06/30/2023

19,595‌

19,498‌

0.67%

Specialty

Steel  

15.53%,

11/15/2026

06/04/2021

41,564‌

41,564‌

1.43%

Specialty

Steel

Holdings,

Inc.

11/15/2017

14,909‌

13,821‌

0.48%

SportsNet

New

York  

10.25%,

01/15/2025

12/27/2017

19,789‌

19,437‌

0.67%

Total

$

94,413‌

3.25%

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

10

Year

Note;

September

2023

Long

58‌

$

6,461‌

$

47‌

US

Long

Bond;

September

2023

Long

22‌

2,738‌

10‌

US

Ultra

Bond;

September

2023

Long

433‌

57,251‌

(

715‌

)

Total

$

(

658‌

)

Amounts

in

thousands

except

contracts.

Foreign

Currency

Contracts

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Bank

of

New

York

Mellon

09/18/2023

$

2,019‌

EUR

1,814‌

$

20‌

$

—‌

Citigroup

Inc

08/16/2023

$

2,852‌

EUR

2,575‌

18‌

—‌

Citigroup

Inc

08/25/2023

$

3,010‌

ZAR

54,300‌

—‌

(

21‌

)

Citigroup

Inc

08/25/2023

$

1,547‌

MXN

26,350‌

—‌

(

20‌

)

Goldman

Sachs

&

Co

08/25/2023

$

1,020‌

EUR

925‌

1‌

—‌

HSBC

Securities

Inc

08/16/2023

$

384‌

EUR

350‌

—‌

(

1‌

)

JPMorgan

Chase

08/16/2023

EUR

50‌

$

56‌

—‌

(

1‌

)

JPMorgan

Chase

08/16/2023

$

14,627‌

EUR

13,227‌

75‌

—‌

JPMorgan

Chase

08/25/2023

RON

21,600‌

EUR

4,375‌

—‌

(

4‌

)

JPMorgan

Chase

08/25/2023

$

639‌

ZAR

11,500‌

—‌

(

3‌

)

JPMorgan

Chase

08/25/2023

$

312‌

MXN

5,300‌

—‌

(

3‌

)

JPMorgan

Chase

08/25/2023

$

8,117‌

EUR

7,350‌

26‌

—‌

State

Street

Financial

Global

Markets

09/18/2023

$

862‌

EUR

781‌

1‌

—‌

Total

$

141‌

$

(

53‌

)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

International

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

54

INVESTMENT

COMPANIES

-

2

.59

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

2

.59

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

10,511,665‌

$

10,512‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b),(c)

125,591,435‌

125,591‌

$

136,103‌

TOTAL

INVESTMENT

COMPANIES

$

136,103‌

COMMON

STOCKS

-

98

.00

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

0

.59

%

BAE

Systems

PLC

2,587,338‌

$

30,942‌

Apparel

-

3

.48

%

Burberry

Group

PLC

548,458‌

15,656‌

Gildan

Activewear

Inc

762,167‌

23,703‌

Hermes

International

16,261‌

35,990‌

LVMH

Moet

Hennessy

Louis

Vuitton

SE

115,694‌

107,454‌

$

182,803‌

Automobile

Manufacturers

-

1

.78

%

Bayerische

Motoren

Werke

AG

300,943‌

36,700‌

Ferrari

NV

114,467‌

36,697‌

Kia

Corp

306,718‌

19,906‌

$

93,303‌

Automobile

Parts

&

Equipment

-

0

.81

%

Bridgestone

Corp

573,500‌

23,798‌

Toyota

Industries

Corp

258,200‌

18,659‌

$

42,457‌

Banks

-

11

.32

%

AIB

Group

PLC

3,922,250‌

18,449‌

Banco

do

Brasil

SA

2,215,300‌

22,595‌

Bank

Leumi

Le-Israel

BM

2,271,950‌

18,136‌

Bank

Negara

Indonesia

Persero

Tbk

PT

35,326,800‌

20,797‌

Bank

of

Ireland

Group

PLC

2,491,323‌

26,286‌

Bank

Rakyat

Indonesia

Persero

Tbk

PT

170,204,420‌

63,725‌

Credicorp

Ltd

113,161‌

17,772‌

DBS

Group

Holdings

Ltd

1,802,900‌

46,509‌

FinecoBank

Banca

Fineco

SpA

856,016‌

13,292‌

Grupo

Financiero

Banorte

SAB

de

CV

3,095,730‌

29,354‌

HDFC

Bank

Ltd

ADR

444,927‌

30,380‌

HSBC

Holdings

PLC

5,032,143‌

41,799‌

ICICI

Bank

Ltd

ADR

3,369,546‌

82,790‌

Kotak

Mahindra

Bank

Ltd

1,292,631‌

29,212‌

Lloyds

Banking

Group

PLC

56,475,782‌

32,629‌

National

Bank

of

Greece

SA

(d)

1,538,243‌

10,593‌

Nordea

Bank

Abp

3,204,512‌

36,270‌

PT

Bank

Central

Asia

Tbk

30,679,670‌

18,581‌

Swedbank

AB

874,461‌

16,039‌

UniCredit

SpA

768,926‌

19,469‌

$

594,677‌

Beverages

-

2

.08

%

Diageo

PLC

776,164‌

33,874‌

Kweichow

Moutai

Co

Ltd

80,582‌

21,267‌

Remy

Cointreau

SA

137,250‌

23,560‌

Varun

Beverages

Ltd

3,098,720‌

30,323‌

$

109,024‌

Biotechnology

-

0

.34

%

Genmab

A/S

(d)

43,613‌

17,977‌

Building

Materials

-

2

.38

%

Beijing

Oriental

Yuhong

Waterproof

Technology

Co

Ltd

4,488,775‌

19,408‌

Cemex

SAB

de

CV

ADR

(d)

5,444,321‌

41,486‌

CRH

PLC

1,080,533‌

64,369‌

$

125,263‌

Chemicals

-

1

.12

%

Air

Liquide

SA

150,231‌

27,011‌

Shin-Etsu

Chemical

Co

Ltd

963,800‌

31,752‌

$

58,763‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

-

1

.31

%

Localiza

Rent

a

Car

SA

2,332,028‌

$

33,126‌

Secom

Co

Ltd

253,700‌

17,024‌

TOPPAN

INC

802,500‌

18,890‌

$

69,040‌

Cosmetics

&

Personal

Care

-

3

.01

%

L'Oreal

SA

164,317‌

76,426‌

Unilever

PLC

1,517,727‌

81,552‌

$

157,978‌

Distribution

&

Wholesale

-

1

.25

%

ITOCHU

Corp

1,011,900‌

40,927‌

Rexel

SA

1,023,323‌

24,685‌

$

65,612‌

Diversified

Financial

Services

-

2

.13

%

Bajaj

Finance

Ltd

240,313‌

21,364‌

Banco

BTG

Pactual

SA

3,019,800‌

21,674‌

Brookfield

Asset

Management

Ltd

438,338‌

14,786‌

Deutsche

Boerse

AG

138,356‌

26,509‌

London

Stock

Exchange

Group

PLC

254,309‌

27,617‌

$

111,950‌

Electric

-

1

.50

%

Iberdrola

SA

4,490,946‌

56,054‌

SSE

PLC

1,056,499‌

22,845‌

$

78,899‌

Electrical

Components

&

Equipment

-

0

.91

%

Schneider

Electric

SE

266,793‌

47,589‌

Electronics

-

1

.56

%

E

Ink

Holdings

Inc

1,650,000‌

11,834‌

Halma

PLC

527,492‌

15,148‌

Hoya

Corp

353,504‌

41,169‌

Shimadzu

Corp

454,200‌

13,794‌

$

81,945‌

Engineering

&

Construction

-

1

.04

%

Kajima

Corp

644,100‌

10,179‌

Vinci

SA

378,298‌

44,430‌

$

54,609‌

Food

-

3

.52

%

Ajinomoto

Co

Inc

456,000‌

17,768‌

Danone

SA

386,623‌

23,610‌

Dino

Polska

SA

(d),(e)

94,821‌

10,559‌

Nestle

SA

772,552‌

94,652‌

Seven

&

i

Holdings

Co

Ltd

917,000‌

38,042‌

$

184,631‌

Food

Service

-

0

.48

%

Compass

Group

PLC

979,948‌

25,496‌

Healthcare

-

Products

-

0

.94

%

Alcon

Inc

285,601‌

24,302‌

Sartorius

Stedim

Biotech

27,735‌

8,678‌

Smith

&

Nephew

PLC

1,065,158‌

16,204‌

$

49,184‌

Healthcare

-

Services

-

1

.22

%

ICON

PLC

(d)

131,479‌

33,055‌

Lonza

Group

AG

53,663‌

31,180‌

$

64,235‌

Home

Builders

-

0

.74

%

Sumitomo

Forestry

Co

Ltd

205,500‌

4,959‌

Taylor

Wimpey

PLC

23,215,116‌

34,076‌

$

39,035‌

Home

Furnishings

-

0

.43

%

Haier

Smart

Home

Co

Ltd

6,918,200‌

22,750‌

Insurance

-

5

.88

%

AIA

Group

Ltd

6,283,400‌

62,864‌

ASR

Nederland

NV

255,321‌

11,574‌

AXA

SA

1,109,922‌

34,118‌

Fairfax

Financial

Holdings

Ltd

59,700‌

47,630‌

Hannover

Rueck

SE

70,488‌

15,040‌

MS&AD

Insurance

Group

Holdings

Inc

915,600‌

34,054‌

Schedule

of

Investments

Diversified

International

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

55

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

126,509‌

$

47,624‌

Prudential

PLC

1,634,076‌

22,691‌

Sompo

Holdings

Inc

406,600‌

17,976‌

Tryg

A/S

775,634‌

15,314‌

$

308,885‌

Internet

-

0

.74

%

MercadoLibre

Inc

(d)

13,298‌

16,464‌

PDD

Holdings

Inc

ADR

(d)

248,631‌

22,332‌

$

38,796‌

Investment

Companies

-

0

.28

%

EXOR

NV

158,288‌

14,791‌

Iron

&

Steel

-

0

.45

%

Nippon

Steel

Corp

1,029,800‌

23,537‌

Leisure

Products

&

Services

-

0

.43

%

Shimano

Inc

150,100‌

22,624‌

Machinery

-

Construction

&

Mining

-

2

.24

%

Mitsubishi

Electric

Corp

3,493,500‌

50,415‌

Mitsubishi

Heavy

Industries

Ltd

928,800‌

44,066‌

Weir

Group

PLC/The

979,654‌

23,073‌

$

117,554‌

Machinery

-

Diversified

-

2

.67

%

Atlas

Copco

AB

-

A

Shares

4,036,211‌

57,338‌

Keyence

Corp

115,500‌

51,830‌

NARI

Technology

Co

Ltd

4,160,436‌

14,168‌

THK

Co

Ltd

854,900‌

17,139‌

$

140,475‌

Metal

Fabrication

&

Hardware

-

0

.55

%

APL

Apollo

Tubes

Ltd

1,479,773‌

28,707‌

Mining

-

2

.22

%

BHP

Group

Ltd

1,755,250‌

54,627‌

Franco-Nevada

Corp

358,314‌

52,257‌

Sandfire

Resources

Ltd

(d)

2,094,951‌

9,576‌

$

116,460‌

Miscellaneous

Manufacturers

-

1

.11

%

Siemens

AG

341,108‌

58,139‌

Oil

&

Gas

-

3

.91

%

BP

PLC

8,034,537‌

49,850‌

Noble

Corp

PLC

401,382‌

20,980‌

Shell

PLC

2,582,300‌

78,264‌

Suncor

Energy

Inc

792,700‌

24,803‌

Tourmaline

Oil

Corp

604,600‌

31,334‌

$

205,231‌

Oil

&

Gas

Services

-

0

.85

%

Schlumberger

NV

766,857‌

44,738‌

Pharmaceuticals

-

7

.20

%

AstraZeneca

PLC

738,195‌

106,061‌

Merck

KGaA

106,438‌

18,704‌

Novo

Nordisk

A/S

728,442‌

117,463‌

Roche

Holding

AG

231,924‌

71,908‌

Sanofi

599,578‌

63,966‌

$

378,102‌

Private

Equity

-

3

.31

%

3i

Group

PLC

4,308,644‌

109,316‌

Brookfield

Corp

1,842,253‌

64,307‌

$

173,623‌

Retail

-

5

.92

%

ABC-Mart

Inc

160,200‌

8,870‌

Alimentation

Couche-Tard

Inc

1,507,392‌

76,316‌

Arezzo

Industria

e

Comercio

SA

595,000‌

10,379‌

Dollarama

Inc

385,700‌

25,406‌

JD

Sports

Fashion

PLC

19,407,069‌

39,312‌

Li

Ning

Co

Ltd

1,993,500‌

12,153‌

MatsukiyoCocokara

&

Co

417,800‌

24,450‌

Swatch

Group

AG/The

-

BR

43,607‌

13,956‌

Wal-Mart

de

Mexico

SAB

de

CV

14,733,578‌

61,372‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Yum

China

Holdings

Inc

630,794‌

$

38,491‌

$

310,705‌

Semiconductors

-

10

.83

%

ASM

International

NV

46,809‌

22,238‌

ASML

Holding

NV

162,530‌

116,416‌

Infineon

Technologies

AG

595,071‌

26,145‌

Renesas

Electronics

Corp

(d)

2,298,700‌

44,351‌

Rohm

Co

Ltd

170,200‌

15,949‌

Samsung

Electronics

Co

Ltd

2,406,344‌

131,754‌

Sanken

Electric

Co

Ltd

129,700‌

13,251‌

SK

Hynix

Inc

343,398‌

33,256‌

Socionext

Inc

(f)

249,100‌

29,475‌

Taiwan

Semiconductor

Manufacturing

Co

Ltd

7,514,544‌

135,695‌

$

568,530‌

Software

-

0

.97

%

Dassault

Systemes

SE

617,609‌

26,396‌

Nemetschek

SE

175,956‌

12,804‌

Nexon

Co

Ltd

630,300‌

12,026‌

$

51,226‌

Telecommunications

-

0

.80

%

Nippon

Telegraph

&

Telephone

Corp

36,657,500‌

42,036‌

Toys,

Games

&

Hobbies

-

1

.42

%

Nintendo

Co

Ltd

1,646,400‌

74,474‌

Transportation

-

2

.28

%

Canadian

National

Railway

Co

455,248‌

55,183‌

Canadian

Pacific

Kansas

City

Ltd

689,900‌

56,766‌

Keisei

Electric

Railway

Co

Ltd

187,500‌

7,782‌

$

119,731‌

TOTAL

COMMON

STOCKS

$

5,146,526‌

Total

Investments

$

5,282,629‌

Other

Assets

and

Liabilities

-  (0.59)%

(

31,133‌

)

TOTAL

NET

ASSETS

-

100.00%

$

5,251,496‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$34,292

or

0.65%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(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

$10,559

or

0.20%

of

net

assets.

(f)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,668

or

0.18%

of

net

assets.

Schedule

of

Investments

Diversified

International

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

56

Portfolio

Summary

Location

Percent

Japan

15

.45‌

%

United

Kingdom

14

.93‌

%

France

10

.37‌

%

Canada

9

.00‌

%

Germany

4

.59‌

%

Switzerland

4

.49‌

%

India

4

.26‌

%

United

States

3

.84‌

%

Korea,

Republic

Of

3

.52‌

%

Netherlands

3

.14‌

%

Ireland

3

.13‌

%

Denmark

2

.87‌

%

Taiwan

2

.82‌

%

Mexico

2

.52‌

%

China

2

.43‌

%

Indonesia

1

.96‌

%

Brazil

1

.67‌

%

Hong

Kong

1

.63‌

%

Sweden

1

.39‌

%

Italy

1

.32‌

%

Australia

1

.22‌

%

Spain

1

.07‌

%

Singapore

0

.89‌

%

Finland

0

.69‌

%

Israel

0

.34‌

%

Peru

0

.34‌

%

Uruguay

0

.31‌

%

Greece

0

.20‌

%

Poland

0

.20‌

%

Other

Assets

and

Liabilities

(

0

.59‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

1,411,665‌

$

1,286,074‌

$

125,591‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

91,593‌

380,722‌

472,315‌

—‌

$

91,593‌

$

1,792,387‌

$

1,758,389‌

$

125,591‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

2,871‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

361‌

—‌

—‌

—‌

$

3,232‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Equity

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

57

INVESTMENT

COMPANIES

-

1

.67

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.67

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

2,705,484‌

$

2,705‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b),(c)

148,951,501‌

148,952‌

$

151,657‌

TOTAL

INVESTMENT

COMPANIES

$

151,657‌

COMMON

STOCKS

-

98

.20

%

Shares

Held

Value

(000's)

Advertising

-

1

.37

%

Omnicom

Group

Inc

1,472,067‌

$

124,566‌

Apparel

-

0

.56

%

NIKE

Inc

460,832‌

50,871‌

Automobile

Manufacturers

-

3

.66

%

Cummins

Inc

463,077‌

120,770‌

PACCAR

Inc

2,466,642‌

212,452‌

$

333,222‌

Automobile

Parts

&

Equipment

-

2

.38

%

Magna

International

Inc

(d)

3,368,751‌

216,712‌

Banks

-

10

.06

%

Bank

of

America

Corp

5,262,127‌

168,388‌

JPMorgan

Chase

&

Co

1,875,244‌

296,214‌

Morgan

Stanley

2,883,229‌

263,988‌

PNC

Financial

Services

Group

Inc/The

1,357,913‌

185,885‌

$

914,475‌

Beverages

-

1

.84

%

Coca-Cola

Co/The

2,706,100‌

167,589‌

Biotechnology

-

1

.76

%

Corteva

Inc

2,828,250‌

159,598‌

Building

Materials

-

2

.66

%

Carrier

Global

Corp

1,507,196‌

89,754‌

Trane

Technologies

PLC

761,884‌

151,950‌

$

241,704‌

Chemicals

-

2

.47

%

Air

Products

and

Chemicals

Inc

560,838‌

171,241‌

PPG

Industries

Inc

371,729‌

53,492‌

$

224,733‌

Computers

-

1

.96

%

Apple

Inc

908,752‌

178,524‌

Cosmetics

&

Personal

Care

-

1

.07

%

Procter

&

Gamble

Co/The

622,919‌

97,362‌

Diversified

Financial

Services

-

4

.30

%

BlackRock

Inc

311,078‌

229,840‌

Discover

Financial

Services

1,527,537‌

161,232‌

$

391,072‌

Electric

-

5

.12

%

NextEra

Energy

Inc

2,301,300‌

168,685‌

Sempra

507,179‌

75,580‌

WEC

Energy

Group

Inc

1,256,790‌

112,935‌

Xcel

Energy

Inc

1,724,658‌

108,188‌

$

465,388‌

Electronics

-

0

.72

%

TE

Connectivity

Ltd

455,680‌

65,386‌

Food

-

1

.80

%

Hormel

Foods

Corp

4,006,784‌

163,797‌

Healthcare

-

Products

-

4

.85

%

Abbott

Laboratories

1,475,882‌

164,310‌

Medtronic

PLC

1,557,694‌

136,703‌

STERIS

PLC

621,470‌

140,173‌

$

441,186‌

Healthcare

-

Services

-

0

.99

%

UnitedHealth

Group

Inc

176,891‌

89,572‌

Home

Builders

-

1

.36

%

DR

Horton

Inc

974,070‌

123,726‌

Insurance

-

3

.52

%

Chubb

Ltd

872,773‌

178,404‌

Fidelity

National

Financial

Inc

3,615,241‌

141,609‌

$

320,013‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Machinery

-

Diversified

-

2

.46

%

Deere

&

Co

520,289‌

$

223,516‌

Media

-

2

.49

%

Cable

One

Inc

1,380‌

999‌

Comcast

Corp

-

Class

A

4,981,131‌

225,446‌

$

226,445‌

Miscellaneous

Manufacturers

-

2

.50

%

Parker-Hannifin

Corp

554,913‌

227,520‌

Oil

&

Gas

-

6

.18

%

Chevron

Corp

856,005‌

140,094‌

EOG

Resources

Inc

1,459,770‌

193,463‌

Marathon

Petroleum

Corp

1,715,388‌

228,181‌

$

561,738‌

Pharmaceuticals

-

9

.88

%

Becton

Dickinson

&

Co

755,539‌

210,508‌

Eli

Lilly

&

Co

28,738‌

13,063‌

Merck

&

Co

Inc

1,854,020‌

197,731‌

Novartis

AG

ADR

1,914,542‌

200,835‌

Pfizer

Inc

2,777,475‌

100,156‌

Roche

Holding

AG

ADR

4,556,242‌

176,327‌

$

898,620‌

Pipelines

-

1

.89

%

Enterprise

Products

Partners

LP

6,485,751‌

171,937‌

Private

Equity

-

2

.40

%

KKR

&

Co

Inc

3,668,279‌

217,822‌

REITs

-

3

.91

%

Alexandria

Real

Estate

Equities

Inc

1,319,969‌

165,894‌

Digital

Realty

Trust

Inc

94,163‌

11,735‌

Prologis

Inc

719,031‌

89,699‌

Realty

Income

Corp

1,441,177‌

87,868‌

$

355,196‌

Retail

-

4

.02

%

Costco

Wholesale

Corp

359,195‌

201,390‌

Starbucks

Corp

1,139,585‌

115,748‌

Target

Corp

356,056‌

48,591‌

$

365,729‌

Semiconductors

-

3

.80

%

Microchip

Technology

Inc

2,098,321‌

197,116‌

Taiwan

Semiconductor

Manufacturing

Co

Ltd

ADR

1,497,684‌

148,496‌

$

345,612‌

Software

-

2

.72

%

Fidelity

National

Information

Services

Inc

904,021‌

54,585‌

Microsoft

Corp

394,355‌

132,472‌

SAP

SE

ADR

444,813‌

60,650‌

$

247,707‌

Telecommunications

-

2

.15

%

BCE

Inc

(d)

4,335,662‌

187,387‌

Verizon

Communications

Inc

237,973‌

8,110‌

$

195,497‌

Transportation

-

1

.35

%

Expeditors

International

of

Washington

Inc

885,547‌

112,730‌

Union

Pacific

Corp

43,293‌

10,045‌

$

122,775‌

TOTAL

COMMON

STOCKS

$

8,929,610‌

Total

Investments

$

9,081,267‌

Other

Assets

and

Liabilities

-  0.13%

12,028‌

TOTAL

NET

ASSETS

-

100.00%

$

9,093,295‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,165

or

0.10%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Schedule

of

Investments

Equity

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

58

(d)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,010

or

0.10%

of

net

assets.

Portfolio

Summary

Sector

Percent

Financial

24

.19‌

%

Consumer,

Non-cyclical

22

.19‌

%

Consumer,

Cyclical

11

.98‌

%

Industrial

9

.69‌

%

Technology

8

.48‌

%

Energy

8

.07‌

%

Communications

6

.01‌

%

Utilities

5

.12‌

%

Basic

Materials

2

.47‌

%

Money

Market

Funds

1

.67‌

%

Other

Assets

and

Liabilities

0

.13‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

2,151,790‌

$

2,002,838‌

$

148,952‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

169,364‌

358,619‌

527,983‌

—‌

$

169,364‌

$

2,510,409‌

$

2,530,821‌

$

148,952‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

4,491‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

815‌

—‌

—‌

—‌

$

5,306‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

59

INVESTMENT

COMPANIES

-

11

.91

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

11

.91

%

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b)

58,557,649‌

$

58,558‌

TOTAL

INVESTMENT

COMPANIES

$

58,558‌

BONDS

-

85

.00

%

Principal

Amount

(000's)

Value

(000's)

Banks

-

5

.30

%

Banco

Mercantil

del

Norte

SA/Grand

Cayman

5.88%,

01/24/2027

(c),(d),(e),(f)

$

4,050‌

$

3,534‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.64%

5.88%,

01/24/2027

(c),(d),(e)

400‌

344‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.64%

Bank

Hapoalim

BM

3.26%,

01/21/2032

(d),(e),(f)

1,025‌

878‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.16%

Bank

Leumi

Le-Israel

BM

7.13%,

07/18/2033

(d),(e),(f)

3,300‌

3,250‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.47%

BBVA

Bancomer

SA/Texas

8.45%,

06/29/2038

(d),(e),(f)

5,100‌

5,193‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.66%

BOI

Finance

BV

7.50%,

02/16/2027

EUR

2,505‌

2,393‌

Israel

Discount

Bank

Ltd

5.38%,

01/26/2028

(f)

$

4,600‌

4,536‌

OTP

Bank

Nyrt

7.35%,

03/04/2026

(d)

EUR

850‌

948‌

3

Month

Euro

Interbank

Offered

Rate

+

4.52%

Raiffeisenbank

AS

7.13%,

01/19/2026

(d)

2,000‌

2,201‌

3

Month

Euro

Interbank

Offered

Rate

+

3.93%

Standard

Chartered

PLC

6.19%,

07/06/2027

(d),(f)

$

2,750‌

2,775‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.85%

$

26,052‌

Building

Materials

-

0

.86

%

Cemex

SAB

de

CV

9.13%,

03/14/2028

(c),(d),(f)

1,075‌

1,118‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.91%

9.13%,

03/14/2028

(c),(d)

3,000‌

3,126‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.91%

$

4,244‌

Chemicals

-

0

.65

%

Sasol

Financing

USA

LLC

8.75%,

05/03/2029

(f)

3,225‌

3,225‌

Diversified

Financial

Services

-

0

.43

%

SOCAR

Turkey

Enerji

AS

via

Steas

Funding

1

DAC

7.23%,

03/17/2026

2,200‌

2,096‌

Electric

-

0

.68

%

Comision

Federal

de

Electricidad

5.00%,

09/29/2036

3,216‌

2,702‌

NPC

Ukrenergo

0.00%,

11/09/2028

(f),(g)

2,350‌

628‌

$

3,330‌

Energy

-

Alternate

Sources

-

0

.66

%

Energo-Pro

AS

8.50%,

02/04/2027

1,025‌

994‌

8.50%,

02/04/2027

(f)

2,325‌

2,255‌

$

3,249‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Engineering

&

Construction

-

1

.08

%

HTA

Group

Ltd/Mauritius

7.00%,

12/18/2025

$

3,475‌

$

3,312‌

IHS

Holding

Ltd

5.63%,

11/29/2026

(f)

2,300‌

2,007‌

$

5,319‌

Internet

-

0

.49

%

Prosus

NV

4.19%,

01/19/2032

2,850‌

2,410‌

Iron

&

Steel

-

0

.24

%

Usiminas

International

Sarl

5.88%,

07/18/2026

1,200‌

1,167‌

Lodging

-

1

.21

%

Melco

Resorts

Finance

Ltd

5.25%,

04/26/2026

500‌

469‌

5.63%,

07/17/2027

(f)

300‌

274‌

5.63%,

07/17/2027

950‌

863‌

5.75%,

07/21/2028

3,050‌

2,715‌

MGM

China

Holdings

Ltd

5.25%,

06/18/2025

1,500‌

1,446‌

Studio

City

Finance

Ltd

6.50%,

01/15/2028

200‌

170‌

$

5,937‌

Mining

-

1

.24

%

Stillwater

Mining

Co

4.00%,

11/16/2026

(f)

4,575‌

4,113‌

4.00%,

11/16/2026

450‌

405‌

4.50%,

11/16/2029

(f)

1,750‌

1,422‌

4.50%,

11/16/2029

200‌

162‌

$

6,102‌

Oil

&

Gas

-

8

.26

%

Ecopetrol

SA

8.88%,

01/13/2033

1,400‌

1,436‌

Energian

Israel

Finance

Ltd

4.88%,

03/30/2026

(f)

1,086‌

1,014‌

5.38%,

03/30/2028

(f)

2,625‌

2,379‌

8.50%,

09/30/2033

(f)

5,125‌

5,125‌

KazMunayGas

National

Co

JSC

5.38%,

04/24/2030

3,900‌

3,665‌

5.75%,

04/19/2047

975‌

818‌

6.38%,

10/24/2048

2,900‌

2,563‌

Kosmos

Energy

Ltd

7.13%,

04/04/2026

2,175‌

2,042‌

7.50%,

03/01/2028

(f)

350‌

311‌

7.50%,

03/01/2028

1,950‌

1,733‌

7.75%,

05/01/2027

900‌

827‌

Leviathan

Bond

Ltd

6.13%,

06/30/2025

(f)

3,300‌

3,223‌

6.50%,

06/30/2027

(f)

4,150‌

4,005‌

Petroleos

Mexicanos

6.49%,

01/23/2027

6,025‌

5,369‌

6.75%,

09/21/2047

1,125‌

724‌

7.69%,

01/23/2050

2,000‌

1,392‌

Tengizchevroil

Finance

Co

International

Ltd

4.00%,

08/15/2026

4,390‌

3,977‌

$

40,603‌

Pipelines

-

3

.63

%

Acu

Petroleo

Luxembourg

Sarl

7.50%,

07/13/2035

3,288‌

2,942‌

Galaxy

Pipeline

Assets

Bidco

Ltd

2.16%,

03/31/2034

(f)

2,661‌

2,263‌

2.16%,

03/31/2034

6,476‌

5,505‌

Greensaif

Pipelines

Bidco

Sarl

6.13%,

02/23/2038

(f)

3,300‌

3,395‌

6.13%,

02/23/2038

1,700‌

1,747‌

TMS

Issuer

Sarl

5.78%,

08/23/2032

(f)

1,950‌

1,989‌

$

17,841‌

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

60

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Real

Estate

-

0

.48

%

Country

Garden

Holdings

Co

Ltd

2.70%,

07/12/2026

$

600‌

$

100‌

4.20%,

02/06/2026

3,200‌

576‌

5.40%,

05/27/2025

350‌

72‌

7.25%,

04/08/2026

2,425‌

432‌

MAF

Global

Securities

Ltd

7.88%,

06/30/2027

(c),(d)

1,075‌

1,093‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.89%

Powerlong

Real

Estate

Holdings

Ltd

4.90%,

05/13/2026

400‌

27‌

6.25%,

08/10/2024

500‌

45‌

$

2,345‌

Regional

Authority

-

0

.43

%

Provincia

de

Buenos

Aires/Government

Bonds

5.25%,

09/01/2037

(h)

5,475‌

2,122‌

Sovereign

-

58

.58

%

Argentine

Republic

Government

International

Bond

3.62%,

07/09/2035

(h)

10,000‌

3,101‌

Bahamas

Government

International

Bond

6.00%,

11/21/2028

3,650‌

2,978‌

9.00%,

06/16/2029

(f)

600‌

534‌

Brazil

Notas

do

Tesouro

Nacional

Serie

B

24.35%,

08/15/2050

BRL

5,100‌

4,792‌

Brazil

Notas

do

Tesouro

Nacional

Serie

F

9.76%,

01/01/2027

118,300‌

24,832‌

Colombia

Government

International

Bond

4.50%,

03/15/2029

$

3,525‌

3,141‌

5.20%,

05/15/2049

3,750‌

2,723‌

7.50%,

02/02/2034

2,100‌

2,120‌

Colombian

TES

6.00%,

04/28/2028

COP

46,300,000‌

10,107‌

13.25%,

02/09/2033

16,200,000‌

4,857‌

Czech

Republic

Government

Bond

1.00%,

06/26/2026

CZK

112,200‌

4,639‌

1.25%,

02/14/2025

89,000‌

3,840‌

2.40%,

09/17/2025

79,600‌

3,460‌

Ecuador

Government

International

Bond

3.50%,

07/31/2035

(h)

$

6,950‌

2,389‌

Egypt

Government

International

Bond

7.90%,

02/21/2048

925‌

511‌

8.15%,

11/20/2059

1,425‌

802‌

8.50%,

01/31/2047

800‌

465‌

El

Salvador

Government

International

Bond

7.63%,

09/21/2034

1,100‌

699‌

7.63%,

02/01/2041

2,250‌

1,398‌

7.65%,

06/15/2035

2,025‌

1,314‌

8.63%,

02/28/2029

3,100‌

2,234‌

Ghana

Government

International

Bond

0.00%,

04/07/2029

(g)

1,700‌

769‌

0.00%,

03/26/2032

(g)

1,800‌

819‌

0.00%,

04/07/2034

(g)

7,025‌

3,179‌

7.88%,

02/11/2035

1,100‌

501‌

Guatemala

Government

Bond

6.13%,

06/01/2050

825‌

763‌

6.60%,

06/13/2036

(f)

3,625‌

3,710‌

Hungary

Government

Bond

3.00%,

06/26/2024

HUF

1,425,000‌

3,800‌

9.50%,

10/21/2026

3,255,000‌

9,385‌

Hungary

Government

International

Bond

6.25%,

09/22/2032

(f)

$

2,900‌

2,976‌

Indonesia

Treasury

Bond

5.13%,

04/15/2027

IDR

13,300,000‌

861‌

6.38%,

08/15/2028

97,400,000‌

6,564‌

6.50%,

02/15/2031

67,000,000‌

4,469‌

7.00%,

02/15/2033

103,100,000‌

7,185‌

Iraq

International

Bond

5.80%,

01/15/2028

$

8,817‌

8,171‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Sovereign

(continued)

Ivory

Coast

Government

International

Bond

4.88%,

01/30/2032

EUR

6,100‌

$

5,429‌

4.88%,

01/30/2032

(f)

175‌

156‌

5.88%,

10/17/2031

1,200‌

1,141‌

6.63%,

03/22/2048

4,375‌

3,616‌

Magyar

Export-Import

Bank

Zrt

6.13%,

12/04/2027

(f)

$

3,000‌

3,005‌

Mexican

Bonos

7.75%,

11/23/2034

MXN

422,650‌

23,341‌

7.75%,

11/13/2042

90,300‌

4,812‌

Mexico

Government

International

Bond

4.88%,

05/19/2033

$

7,125‌

6,824‌

6.35%,

02/09/2035

5,350‌

5,615‌

Nigeria

Government

International

Bond

6.13%,

09/28/2028

4,450‌

3,844‌

7.63%,

11/28/2047

750‌

560‌

7.88%,

02/16/2032

2,625‌

2,290‌

8.25%,

09/28/2051

1,600‌

1,254‌

Peru

Government

Bond

5.40%,

08/12/2034

PEN

38,750‌

9,628‌

6.15%,

08/12/2032

14,400‌

3,864‌

Republic

of

Poland

Government

Bond

0.00%,

07/25/2024

(g)

PLN

25,400‌

6,009‌

2.50%,

07/25/2026

23,000‌

5,308‌

6.00%,

10/25/2033

27,600‌

7,166‌

Republic

of

South

Africa

Government

Bond

8.88%,

02/28/2035

ZAR

258,300‌

12,011‌

Republic

of

South

Africa

Government

International

Bond

7.30%,

04/20/2052

$

2,925‌

2,599‌

Romania

Government

Bond

4.85%,

07/25/2029

RON

13,300‌

2,742‌

5.00%,

02/12/2029

14,825‌

3,093‌

Romanian

Government

International

Bond

1.38%,

12/02/2029

EUR

1,358‌

1,182‌

2.00%,

04/14/2033

5,450‌

4,331‌

3.62%,

05/26/2030

1,500‌

1,475‌

6.63%,

09/27/2029

2,075‌

2,391‌

7.13%,

01/17/2033

$

200‌

215‌

Saudi

Government

International

Bond

4.50%,

10/26/2046

6,700‌

5,802‌

5.00%,

01/18/2053

(f)

2,175‌

1,999‌

Senegal

Government

International

Bond

4.75%,

03/13/2028

EUR

2,950‌

2,886‌

5.38%,

06/08/2037

3,250‌

2,521‌

6.25%,

07/30/2024

$

925‌

918‌

6.75%,

03/13/2048

3,000‌

2,243‌

State

Agency

of

Roads

of

Ukraine

0.00%,

06/24/2030

(f),(g)

2,700‌

715‌

0.00%,

06/24/2030

(g)

3,489‌

925‌

Tunisian

Republic

5.75%,

01/30/2025

300‌

209‌

6.38%,

07/15/2026

EUR

7,825‌

5,271‌

Ukraine

Government

International

Bond

0.00%,

05/21/2031

(f),(g)

$

1,250‌

372‌

0.00%,

05/21/2031

(g)

2,500‌

744‌

0.00%,

08/01/2041

(g),(h)

8,500‌

4,162‌

Zambia

Government

International

Bond

0.00%,

04/14/2024

(g)

2,075‌

1,197‌

$

287,953‌

Transportation

-

0

.78

%

Transnet

SOC

Ltd

8.25%,

02/06/2028

(f)

3,850‌

3,832‌

TOTAL

BONDS

$

417,827‌

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

61

CONVERTIBLE

BONDS

-

0

.19

%

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

-

0

.19

%

Abu

Dhabi

National

Oil

Co

0.70%,

06/04/2024

$

1,000‌

$

945‌

TOTAL

CONVERTIBLE

BONDS

$

945‌

Total

Investments

$

477,330‌

Other

Assets

and

Liabilities

-  2.90%

14,232‌

TOTAL

NET

ASSETS

-

100.00%

$

491,562‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

1-day

yield

shown

is

as

of

period

end.

(c)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(d)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(e)

Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$13,199

or

2.69%

of

net

assets.

(f)

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

$76,211

or

15.50%

of

net

assets.

(g)

Non-income

producing

security

(h)

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.

Portfolio

Summary

Location

Percent

United

States

14

.80‌

%

Mexico

13

.04‌

%

Brazil

6

.02‌

%

Colombia

4

.96‌

%

Israel

4

.96‌

%

Hungary

4

.09‌

%

Indonesia

3

.89‌

%

Poland

3

.76‌

%

South

Africa

3

.75‌

%

Czech

Republic

3

.53‌

%

Romania

3

.14‌

%

Peru

2

.75‌

%

Luxembourg

2

.29‌

%

Cote

d'Ivoire

2

.10‌

%

Cayman

Islands

2

.07‌

%

Senegal

1

.75‌

%

Iraq

1

.66‌

%

Nigeria

1

.61‌

%

Saudi

Arabia

1

.59‌

%

Jersey,

Channel

Islands

1

.58‌

%

Ukraine

1

.55‌

%

Kazakhstan

1

.44‌

%

El

Salvador

1

.14‌

%

Tunisia

1

.11‌

%

Ghana

1

.08‌

%

Argentina

1

.06‌

%

Netherlands

0

.98‌

%

Guatemala

0

.91‌

%

Bermuda

0

.81‌

%

Bahamas

0

.72‌

%

Mauritius

0

.67‌

%

United

Kingdom

0

.56‌

%

Ecuador

0

.49‌

%

Ireland

0

.43‌

%

Egypt

0

.35‌

%

Zambia

0

.24‌

%

United

Arab

Emirates

0

.19‌

%

Virgin

Islands,

British

0

.03‌

%

Other

Assets

and

Liabilities

2

.90‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

296,567‌

$

238,009‌

$

58,558‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

32,519‌

92,371‌

124,890‌

—‌

$

32,519‌

$

388,938‌

$

362,899‌

$

58,558‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

1,208‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

97‌

—‌

—‌

—‌

$

1,305‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

10

Year

Note;

September

2023

Long

550‌

$

61,274‌

$

(

912‌

)

US

5

Year

Note;

September

2023

Long

221‌

23,607‌

(

83‌

)

Total

$

(

995‌

)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

62

Foreign

Currency

Contracts

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Citigroup

Inc

08/16/2023

EUR

100‌

$

112‌

$

—‌

$

(

2‌

)

Citigroup

Inc

08/25/2023

$

10,020‌

MXN

170,725‌

—‌

(

131‌

)

Citigroup

Inc

08/25/2023

$

26,223‌

ZAR

473,100‌

—‌

(

179‌

)

Citigroup

Inc

08/25/2023

$

22,014‌

CNH

158,350‌

—‌

(

195‌

)

HSBC

Securities

Inc

08/16/2023

EUR

325‌

$

356‌

1‌

—‌

HSBC

Securities

Inc

08/16/2023

$

877‌

EUR

800‌

—‌

(

2‌

)

HSBC

Securities

Inc

08/25/2023

CNH

73,500‌

$

10,310‌

—‌

(

1‌

)

JPMorgan

Chase

08/16/2023

EUR

950‌

$

1,062‌

—‌

(

18‌

)

JPMorgan

Chase

08/16/2023

$

37,798‌

EUR

34,176‌

196‌

—‌

JPMorgan

Chase

08/25/2023

CLP

5,595,000‌

$

6,818‌

—‌

(

165‌

)

JPMorgan

Chase

08/25/2023

EUR

6,400‌

$

7,101‌

—‌

(

56‌

)

JPMorgan

Chase

08/25/2023

INR

1,129,000‌

$

13,765‌

—‌

(

43‌

)

JPMorgan

Chase

08/25/2023

THB

397,200‌

$

11,563‌

71‌

—‌

JPMorgan

Chase

08/25/2023

$

9,604‌

BRL

46,100‌

—‌

(

102‌

)

JPMorgan

Chase

08/25/2023

$

33,347‌

EUR

30,200‌

103‌

—‌

Total

$

371‌

$

(

894‌

)

Amounts

in

thousands.

Credit

Default

Swaps

Buy

Protection

Counterparty

Reference

Entity

Implied

Credit

Spread

as

of

July

31,

2023

(a)

(Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Payments/

(Receipts)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

Asset

----

Liability

Goldman

Sachs

&

Co

Bank

of

China

Ltd/Hong

Kong,

1.25%,

06/24/2025

0.39%

(1.00)%

Quarterly

12/20/2025

$

3,350‌

$

(

33‌

)

$

(

13‌

)

$

—‌

$

(

46‌

)

Goldman

Sachs

&

Co

Bank

of

China

Ltd/Hong

Kong,

1.25%,

06/24/2025

0.39%

(1.00)%

Quarterly

12/20/2025

3,300‌

(

33‌

)

(

13‌

)

—‌

(

46‌

)

Goldman

Sachs

&

Co

Bank

of

China

Ltd/Hong

Kong,

1.25%,

06/24/2025

0.39%

(1.00)%

Quarterly

12/20/2025

4,700‌

(

37‌

)

(

28‌

)

—‌

(

65‌

)

Goldman

Sachs

&

Co

Bank

of

China

Ltd/Hong

Kong,

1.25%,

06/24/2025

0.39%

(1.00)%

Quarterly

12/20/2025

500‌

(

5‌

)

(

2‌

)

—‌

(

7‌

)

Goldman

Sachs

&

Co

China

Construction

Bank

Corp/Luxembourg,

0.00%,

04/22/2024

0.40%

(1.00)%

Quarterly

12/20/2025

3,350‌

(

33‌

)

(

12‌

)

—‌

(

45‌

)

Goldman

Sachs

&

Co

China

Construction

Bank

Corp/Luxembourg,

0.00%,

04/22/2024

0.40%

(1.00)%

Quarterly

12/20/2025

3,300‌

(

33‌

)

(

12‌

)

—‌

(

45‌

)

Goldman

Sachs

&

Co

China

Construction

Bank

Corp/Luxembourg,

0.00%,

04/22/2024

0.40%

(1.00)%

Quarterly

12/20/2025

3,350‌

(

26‌

)

(

19‌

)

—‌

(

45‌

)

Goldman

Sachs

&

Co

China

Construction

Bank

Corp/Luxembourg,

0.00%,

04/22/2024

0.40%

(1.00)%

Quarterly

12/20/2025

500‌

(

5‌

)

(

2‌

)

—‌

(

7‌

)

Goldman

Sachs

&

Co

China

Development

Bank,

3.00%,

06/01/2026

0.38%

(1.00)%

Quarterly

12/20/2025

3,350‌

(

34‌

)

(

13‌

)

—‌

(

47‌

)

Goldman

Sachs

&

Co

China

Development

Bank,

3.00%,

06/01/2026

0.38%

(1.00)%

Quarterly

12/20/2025

3,300‌

(

32‌

)

(

14‌

)

—‌

(

46‌

)

Goldman

Sachs

&

Co

China

Development

Bank,

3.00%,

06/01/2026

0.38%

(1.00)%

Quarterly

12/20/2025

2,000‌

(

16‌

)

(

12‌

)

—‌

(

28‌

)

Goldman

Sachs

&

Co

China

Development

Bank,

3.00%,

06/01/2026

0.38%

(1.00)%

Quarterly

12/20/2025

500‌

(

6‌

)

(

1‌

)

—‌

(

7‌

)

Goldman

Sachs

&

Co

Industrial

&

Commercial

Bank

of

China

Ltd/Hong

Kong,

1.63%,

10/28/2026

0.38%

(1.00)%

Quarterly

12/20/2025

3,300‌

(

32‌

)

(

14‌

)

—‌

(

46‌

)

Goldman

Sachs

&

Co

Industrial

&

Commercial

Bank

of

China

Ltd/Hong

Kong,

1.63%,

10/28/2026

0.38%

(1.00)%

Quarterly

12/20/2025

3,350‌

(

34‌

)

(

13‌

)

—‌

(

47‌

)

Goldman

Sachs

&

Co

Industrial

&

Commercial

Bank

of

China

Ltd/Hong

Kong,

1.63%,

10/28/2026

0.38%

(1.00)%

Quarterly

12/20/2025

3,350‌

(

27‌

)

(

20‌

)

—‌

(

47‌

)

Goldman

Sachs

&

Co

Industrial

&

Commercial

Bank

of

China

Ltd/Hong

Kong,

1.63%,

10/28/2026

0.38%

(1.00)%

Quarterly

12/20/2025

500‌

(

5‌

)

(

2‌

)

—‌

(

7‌

)

Total

$

(

391‌

)

$

(

190‌

)

$

—‌

$

(

581‌

)

Amounts

in

thousands.

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

63

Exchange

Cleared

Credit

Default

Swaps

Buy

Protection

Reference

Entity

Implied

Credit

Spread

as

of

July

31,

2023

(a)

(Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Payments/

(Receipts)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

CDX.NA.HY.40

N/A

(5.00)%

Quarterly

06/20/2028

$

26,350‌

$

(

210‌

)

$

(

724‌

)

$

(

934‌

)

ITRX.39

N/A

(5.00)%

Quarterly

06/20/2028

EUR

17,300‌

(

592‌

)

(

306‌

)

(

898‌

)

Turkey

Government

International

Bond,

11.88%,

01/15/2030

3.79%

(1.00)%

Quarterly

06/20/2028

$

1,625‌

247‌

(

68‌

)

179‌

Total

$

(

555‌

)

$

(

1,098‌

)

$

(

1,653‌

)

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.

Exchange

Cleared

Interest

Rate

Swaps

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a)

Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Payments/(Receipts)

Fair

Value

3

Month

KRW

Certificate

of

Deposit

Pay

3.41%

Annual

Annual

N/A

09/20/2028

KRW

18,000,000‌

$

(

95‌

)

$

—‌

$

(

95‌

)

3

Month

KRW

Certificate

of

Deposit

Pay

3.41%

Annual

Annual

N/A

09/20/2028

12,400,000‌

(

29‌

)

(

37‌

)

(

66‌

)

3

Month

Tel

AVIV

Inter-Bank

Offered

Rate

Pay

3.36%

Quarterly

Annual

N/A

09/20/2028

ILS

103,500‌

$

(

381‌

)

(

6‌

)

(

387‌

)

3

Month

Tel

AVIV

Inter-Bank

Offered

Rate

Pay

3.36%

Quarterly

Annual

N/A

09/20/2028

3,000‌

7‌

(

18‌

)

(

11‌

)

MXN

TIIE

Banxico

Pay

9.27%

Monthly

Monthly

N/A

09/17/2025

MXN

681,500‌

$

(

128‌

)

(

1‌

)

(

129‌

)

Sinacofi

Chile

Interbank

Rate

Avg

Receive

7.37%

Annual

Annual

N/A

11/29/2024

CLP

21,600,000‌

$

(

118‌

)

—‌

(

118‌

)

Sinacofi

Chile

Interbank

Rate

Avg

Receive

7.37%

Annual

Annual

N/A

11/29/2024

17,000,000‌

(

109‌

)

16‌

(

93‌

)

Total

$

(

853‌

)

$

(

46‌

)

$

(

899‌

)

Amounts

in

thousands.

(a)    

Forward

swap.

Schedule

of

Investments

Global

Emerging

Markets

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

64

INVESTMENT

COMPANIES

-

1

.97

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.97

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

67,456‌

$

68‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

4,648,026‌

4,648‌

$

4,716‌

TOTAL

INVESTMENT

COMPANIES

$

4,716‌

COMMON

STOCKS

-

97

.78

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

0

.59

%

LIG

Nex1

Co

Ltd

23,349‌

$

1,405‌

Agriculture

-

0

.30

%

Muyuan

Foods

Co

Ltd

113,900‌

708‌

Airlines

-

0

.48

%

Air

Arabia

PJSC

1,563,182‌

1,145‌

Apparel

-

1

.19

%

Fila

Holdings

Corp

29,789‌

927‌

Youngone

Corp

42,488‌

1,925‌

$

2,852‌

Automobile

Manufacturers

-

2

.53

%

BYD

Co

Ltd

68,500‌

2,440‌

Kia

Corp

29,418‌

1,909‌

Maruti

Suzuki

India

Ltd

14,159‌

1,692‌

$

6,041‌

Automobile

Parts

&

Equipment

-

0

.67

%

Fuyao

Glass

Industry

Group

Co

Ltd

(d)

171,600‌

765‌

Weichai

Power

Co

Ltd

563,000‌

834‌

$

1,599‌

Banks

-

9

.14

%

Bank

of

Jiangsu

Co

Ltd

694,170‌

702‌

Bank

Rakyat

Indonesia

Persero

Tbk

PT

7,303,882‌

2,735‌

Grupo

Financiero

Banorte

SAB

de

CV

250,300‌

2,373‌

HDFC

Bank

Ltd

122,837‌

2,466‌

Hong

Leong

Bank

Bhd

155,800‌

677‌

ICICI

Bank

Ltd

337,974‌

4,119‌

Kasikornbank

PCL

294,400‌

1,089‌

Kotak

Mahindra

Bank

Ltd

58,132‌

1,314‌

PT

Bank

Central

Asia

Tbk

3,868,400‌

2,343‌

Saudi

National

Bank/The

321,754‌

3,306‌

Vietnam

Technological

&

Commercial

Joint

Stock

Bank

(e)

453,900‌

705‌

$

21,829‌

Beverages

-

2

.69

%

Arca

Continental

SAB

de

CV

179,600‌

1,802‌

China

Resources

Beer

Holdings

Co

Ltd

188,000‌

1,211‌

Kweichow

Moutai

Co

Ltd

5,600‌

1,478‌

Tsingtao

Brewery

Co

Ltd

108,000‌

971‌

Varun

Beverages

Ltd

97,520‌

955‌

$

6,417‌

Building

Materials

-

1

.99

%

Beijing

Oriental

Yuhong

Waterproof

Technology

Co

Ltd

145,321‌

628‌

Cemex

SAB

de

CV

(e)

3,367,014‌

2,566‌

China

National

Building

Material

Co

Ltd

760,000‌

480‌

Voltas

Ltd

112,181‌

1,065‌

$

4,739‌

Chemicals

-

0

.75

%

Orbia

Advance

Corp

SAB

de

CV

359,500‌

816‌

Supreme

Industries

Ltd

22,571‌

975‌

$

1,791‌

Coal

-

0

.35

%

Exxaro

Resources

Ltd

92,038‌

835‌

Commercial

Services

-

2

.95

%

Bidvest

Group

Ltd/The

60,787‌

942‌

Humansoft

Holding

Co

KSC

79,772‌

935‌

Jiangsu

Expressway

Co

Ltd

828,000‌

759‌

Localiza

Rent

a

Car

SA

128,591‌

1,827‌

MegaStudyEdu

Co

Ltd

17,572‌

677‌

Network

International

Holdings

PLC

(d),(e)

184,553‌

916‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

Santos

Brasil

Participacoes

SA

479,289‌

$

980‌

$

7,036‌

Computers

-

1

.32

%

CI&T

Inc

(e)

35,930‌

214‌

Globant

SA

(e)

4,690‌

820‌

Quanta

Computer

Inc

193,000‌

1,468‌

WNS

Holdings

Ltd

ADR

(e)

9,299‌

643‌

$

3,145‌

Distribution

&

Wholesale

-

0

.78

%

AKR

Corporindo

Tbk

PT

9,358,200‌

860‌

Vamos

Locacao

de

Caminhoes

Maquinas

e

Equipamentos

SA

398,229‌

1,005‌

$

1,865‌

Diversified

Financial

Services

-

4

.89

%

Bajaj

Finance

Ltd

17,286‌

1,537‌

Banco

BTG

Pactual

SA

256,850‌

1,844‌

BOC

Aviation

Ltd

(d)

82,600‌

692‌

CreditAccess

Grameen

Ltd

(e)

83,025‌

1,471‌

Fubon

Financial

Holding

Co

Ltd

1,088,704‌

2,272‌

Hong

Kong

Exchanges

&

Clearing

Ltd

19,300‌

814‌

Intercorp

Financial

Services

Inc

23,443‌

575‌

KB

Financial

Group

Inc

61,641‌

2,469‌

$

11,674‌

Electric

-

0

.68

%

China

Longyuan

Power

Group

Corp

Ltd

740,000‌

716‌

Emirates

Central

Cooling

Systems

Corp

1,751,862‌

916‌

$

1,632‌

Electrical

Components

&

Equipment

-

0

.98

%

Delta

Electronics

Inc

162,000‌

1,891‌

Riyadh

Cables

Group

Co

26,033‌

444‌

$

2,335‌

Electronics

-

1

.51

%

Avalon

Technologies

Ltd

(d),(e)

114,682‌

838‌

HEG

Ltd

44,237‌

971‌

Lotes

Co

Ltd

32,830‌

782‌

Voltronic

Power

Technology

Corp

18,000‌

1,004‌

$

3,595‌

Energy

-

Alternate

Sources

-

0

.52

%

Sao

Martinho

S/A

175,729‌

1,245‌

Engineering

&

Construction

-

0

.91

%

Grupo

Aeroportuario

del

Centro

Norte

SAB

de

CV

41,961‌

473‌

L&T

Technology

Services

Ltd

(d)

18,001‌

885‌

Samsung

Engineering

Co

Ltd

(e)

27,696‌

803‌

$

2,161‌

Food

-

3

.51

%

Bid

Corp

Ltd

64,420‌

1,525‌

Dino

Polska

SA

(d),(e)

16,424‌

1,829‌

Indofood

Sukses

Makmur

Tbk

PT

1,636,200‌

795‌

LT

Foods

Ltd

615,410‌

1,353‌

Nestle

India

Ltd

3,535‌

969‌

SM

Investments

Corp

60,105‌

999‌

Want

Want

China

Holdings

Ltd

1,296,000‌

904‌

$

8,374‌

Gas

-

0

.36

%

ENN

Natural

Gas

Co

Ltd

332,079‌

855‌

Healthcare

-

Products

-

0

.44

%

Shenzhen

Mindray

Bio-Medical

Electronics

Co

Ltd

25,600‌

1,062‌

Healthcare

-

Services

-

0

.79

%

Bangkok

Dusit

Medical

Services

PCL

1,463,900‌

1,221‌

WuXi

AppTec

Co

Ltd

(d)

70,400‌

670‌

$

1,891‌

Home

Furnishings

-

0

.57

%

Gree

Electric

Appliances

Inc

of

Zhuhai

212,300‌

1,153‌

Haier

Smart

Home

Co

Ltd

63,800‌

210‌

Vestel

Beyaz

Esya

Sanayi

ve

Ticaret

AS

1‌

—‌

$

1,363‌

Schedule

of

Investments

Global

Emerging

Markets

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

65

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

-

3

.84

%

AIA

Group

Ltd

202,600‌

$

2,027‌

China

Pacific

Insurance

Group

Co

Ltd

513,600‌

1,385‌

ICICI

Lombard

General

Insurance

Co

Ltd

(d)

58,519‌

986‌

ICICI

Prudential

Life

Insurance

Co

Ltd

(d)

110,366‌

778‌

PICC

Property

&

Casualty

Co

Ltd

1,868,000‌

2,191‌

Qualitas

Controladora

SAB

de

CV

(f)

245,100‌

1,807‌

$

9,174‌

Internet

-

14

.16

%

Alibaba

Group

Holding

Ltd

(e)

618,524‌

7,904‌

Baidu

Inc

(e)

145,350‌

2,842‌

IndiaMart

InterMesh

Ltd

(d)

33,521‌

1,269‌

Meituan

(d),(e)

70,700‌

1,350‌

Naspers

Ltd

13,392‌

2,631‌

PDD

Holdings

Inc

ADR

(e)

39,312‌

3,531‌

Tencent

Holdings

Ltd

255,000‌

11,720‌

Tongcheng

Travel

Holdings

Ltd

(e)

426,800‌

1,036‌

Trip.com

Group

Ltd

ADR

(e)

37,178‌

1,526‌

$

33,809‌

Investment

Companies

-

0

.39

%

Jio

Financial

Services

Ltd

(e)

113,477‌

361‌

VEF

AB

(e)

2,206,097‌

564‌

$

925‌

Iron

&

Steel

-

1

.87

%

Gerdau

SA

ADR

173,638‌

1,068‌

Hunan

Valin

Steel

Co

Ltd

859,889‌

723‌

Severstal

PAO

(e)

31,471‌

—‌

Vale

SA

182,000‌

2,669‌

$

4,460‌

Leisure

Products

&

Services

-

1

.05

%

Bajaj

Auto

Ltd

19,342‌

1,161‌

Yadea

Group

Holdings

Ltd

(d)

592,000‌

1,347‌

$

2,508‌

Lodging

-

0

.43

%

Galaxy

Entertainment

Group

Ltd

(e)

142,000‌

1,037‌

Machinery

-

Diversified

-

1

.14

%

NARI

Technology

Co

Ltd

374,229‌

1,275‌

WEG

SA

170,700‌

1,441‌

$

2,716‌

Metal

Fabrication

&

Hardware

-

0

.54

%

APL

Apollo

Tubes

Ltd

66,315‌

1,286‌

Mining

-

1

.17

%

Anglo

American

PLC

53,983‌

1,660‌

Polyus

PJSC

343‌

—‌

Shandong

Gold

Mining

Co

Ltd

(d)

570,750‌

1,140‌

$

2,800‌

Miscellaneous

Manufacturers

-

1

.14

%

Airtac

International

Group

32,000‌

952‌

Elite

Material

Co

Ltd

74,000‌

979‌

Zhuzhou

CRRC

Times

Electric

Co

Ltd

199,700‌

796‌

$

2,727‌

Oil

&

Gas

-

4

.15

%

PRIO

SA/Brazil

(e)

146,100‌

1,411‌

Reliance

Industries

Ltd

113,477‌

3,523‌

Saudi

Arabian

Oil

Co

(d)

380,142‌

3,285‌

S-Oil

Corp

16,398‌

964‌

Thai

Oil

PCL

479,300‌

719‌

$

9,902‌

Pharmaceuticals

-

1

.58

%

Caplin

Point

Laboratories

Ltd

72,949‌

807‌

Grand

Pharmaceutical

Group

Ltd

1,050,000‌

600‌

Hansoh

Pharmaceutical

Group

Co

Ltd

(d)

448,000‌

727‌

Richter

Gedeon

Nyrt

30,403‌

767‌

Simcere

Pharmaceutical

Group

Ltd

(d)

926,000‌

876‌

$

3,777‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Real

Estate

-

1

.22

%

China

Overseas

Land

&

Investment

Ltd

390,500‌

$

926‌

China

Resources

Land

Ltd

246,000‌

1,148‌

Multiplan

Empreendimentos

Imobiliarios

SA

150,100‌

840‌

$

2,914‌

Retail

-

3

.50

%

El

Puerto

de

Liverpool

SAB

de

CV

119,358‌

747‌

Jumbo

SA

61,153‌

1,825‌

Mitra

Adiperkasa

Tbk

PT

9,046,700‌

1,188‌

Wal-Mart

de

Mexico

SAB

de

CV

655,300‌

2,729‌

Yum

China

Holdings

Inc

30,250‌

1,863‌

$

8,352‌

Semiconductors

-

17

.22

%

Alchip

Technologies

Ltd

15,000‌

955‌

ASML

Holding

NV

-

NY

Reg

Shares

2,255‌

1,616‌

ASPEED

Technology

Inc

8,000‌

592‌

Hana

Materials

Inc

15,436‌

583‌

MediaTek

Inc

71,000‌

1,562‌

Novatek

Microelectronics

Corp

61,300‌

829‌

Parade

Technologies

Ltd

23,000‌

675‌

Samsung

Electronics

Co

Ltd

247,597‌

13,557‌

SK

Hynix

Inc

30,484‌

2,952‌

Taiwan

Semiconductor

Manufacturing

Co

Ltd

984,685‌

17,781‌

$

41,102‌

Shipbuilding

-

0

.54

%

Yangzijiang

Shipbuilding

Holdings

Ltd

1,114,200‌

1,291‌

Software

-

1

.18

%

NetEase

Inc

129,625‌

2,823‌

Telecommunications

-

1

.22

%

Accton

Technology

Corp

94,000‌

1,147‌

Millicom

International

Cellular

SA

(e)

36,315‌

564‌

ZTE

Corp

325,400‌

1,191‌

$

2,902‌

Textiles

-

0

.33

%

SLC

Agricola

SA

85,503‌

788‌

Transportation

-

0

.22

%

Container

Corp

Of

India

Ltd

63,247‌

535‌

TOTAL

COMMON

STOCKS

$

233,422‌

PREFERRED

STOCKS

-

0

.43

%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

0

.41

%

Hyundai

Motor

Co

7,600.00%

11,539‌

$

981‌

Diversified

Financial

Services

-

0

.02

%

Fubon

Financial

Holding

Co

Ltd

1.80%

20,961‌

37‌

TOTAL

PREFERRED

STOCKS

$

1,018‌

Total

Investments

$

239,156‌

Other

Assets

and

Liabilities

-  (0.18)%

(

433‌

)

TOTAL

NET

ASSETS

-

100.00%

$

238,723‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$68

or

0.03%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

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

$18,353

or

7.69%

of

net

assets.

(e)

Non-income

producing

security

(f)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$58

or

0.02%

of

net

assets.

Schedule

of

Investments

Global

Emerging

Markets

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

66

Portfolio

Summary

Location

Percent

China

24

.47‌

%

Taiwan

13

.52‌

%

India

13

.39‌

%

Korea,

Republic

Of

12

.21‌

%

Brazil

6

.42‌

%

Mexico

5

.57‌

%

Hong

Kong

3

.63‌

%

Indonesia

3

.32‌

%

Saudi

Arabia

2

.95‌

%

South

Africa

2

.49‌

%

United

States

2

.25‌

%

Ireland

1

.48‌

%

Thailand

1

.27‌

%

United

Arab

Emirates

1

.24‌

%

Poland

0

.77‌

%

Greece

0

.77‌

%

United

Kingdom

0

.69‌

%

Netherlands

0

.68‌

%

Philippines

0

.42‌

%

Kuwait

0

.39‌

%

Uruguay

0

.34‌

%

Hungary

0

.32‌

%

Vietnam

0

.30‌

%

Singapore

0

.29‌

%

Malaysia

0

.28‌

%

Luxembourg

0

.24‌

%

Sweden

0

.24‌

%

Peru

0

.24‌

%

Russian

Federation

0

.00‌

%

Turkey

0

.00‌

%

Other

Assets

and

Liabilities

(

0

.18‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

50,421‌

$

45,773‌

$

4,648‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

523‌

20,215‌

20,738‌

—‌

$

523‌

$

70,636‌

$

66,511‌

$

4,648‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

131‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

39‌

—‌

—‌

—‌

$

170‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Global

Real

Estate

Securities

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

67

INVESTMENT

COMPANIES

-

2

.00

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

2

.00

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

200,292‌

$

200‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

43,386,334‌

43,386‌

$

43,586‌

TOTAL

INVESTMENT

COMPANIES

$

43,586‌

COMMON

STOCKS

-

98

.01

%

Shares

Held

Value

(000's)

Engineering

&

Construction

-

0

.51

%

Cellnex

Telecom

SA

-

Rights

(d)

270,640‌

$

11,053‌

Entertainment

-

0

.56

%

Marriott

Vacations

Worldwide

Corp

94,875‌

12,192‌

Healthcare

-

Services

-

0

.52

%

Chartwell

Retirement

Residences

1,482,640‌

11,255‌

Private

Equity

-

1

.25

%

CapitaLand

Investment

Ltd/Singapore

10,685,100‌

27,348‌

Real

Estate

-

8

.70

%

Castellum

AB

(e)

907,856‌

10,339‌

CK

Asset

Holdings

Ltd

3,950,000‌

22,875‌

Mitsui

Fudosan

Co

Ltd

2,123,693‌

43,631‌

Sumitomo

Realty

&

Development

Co

Ltd

1,601,000‌

42,906‌

Sun

Hung

Kai

Properties

Ltd

2,344,500‌

29,439‌

Vonovia

SE

492,343‌

11,472‌

Wharf

Real

Estate

Investment

Co

Ltd

2,075,000‌

11,135‌

Wihlborgs

Fastigheter

AB

2,250,309‌

17,597‌

$

189,394‌

REITs

-

85

.79

%

Aedifica

SA

168,282‌

11,558‌

Agree

Realty

Corp

305,513‌

19,791‌

Alexandria

Real

Estate

Equities

Inc

424,064‌

53,296‌

Allied

Properties

Real

Estate

Investment

Trust

1,135,104‌

18,886‌

American

Homes

4

Rent

1,468,638‌

55,045‌

American

Tower

Corp

281,465‌

53,566‌

Apartment

Income

REIT

Corp

703,704‌

24,306‌

AvalonBay

Communities

Inc

393,478‌

74,230‌

Big

Yellow

Group

PLC

642,769‌

8,846‌

Boston

Properties

Inc

159,720‌

10,642‌

Broadstone

Net

Lease

Inc

1,253,983‌

20,440‌

Canadian

Apartment

Properties

REIT

603,976‌

23,547‌

CapitaLand

Integrated

Commercial

Trust

12,377,018‌

19,002‌

Cousins

Properties

Inc

663,276‌

16,204‌

CubeSmart

792,450‌

34,361‌

Daiwa

House

REIT

Investment

Corp

8,175‌

16,095‌

Digital

Realty

Trust

Inc

453,042‌

56,458‌

Equinix

Inc

67,347‌

54,546‌

Equity

LifeStyle

Properties

Inc

504,355‌

35,900‌

Equity

Residential

200,531‌

13,223‌

Essex

Property

Trust

Inc

243,355‌

59,269‌

Extra

Space

Storage

Inc

459,973‌

64,198‌

First

Industrial

Realty

Trust

Inc

796,121‌

41,159‌

Gaming

and

Leisure

Properties

Inc

602,756‌

28,607‌

Gecina

SA

159,033‌

17,194‌

GLP

J-Reit

15,775‌

15,541‌

Goodman

Group

2,071,125‌

28,638‌

Great

Portland

Estates

PLC

507,715‌

2,786‌

Healthcare

Realty

Trust

Inc

1,075,317‌

21,001‌

Industrial

&

Infrastructure

Fund

Investment

Corp

14,733‌

15,420‌

Inmobiliaria

Colonial

Socimi

SA

2,324,529‌

15,006‌

InterRent

Real

Estate

Investment

Trust

936,120‌

9,094‌

Invincible

Investment

Corp

30,593‌

12,674‌

Invitation

Homes

Inc

1,866,610‌

66,265‌

Japan

Hotel

REIT

Investment

Corp

25,691‌

12,757‌

Kilroy

Realty

Corp

418,447‌

14,939‌

Klepierre

SA

1,222,663‌

32,454‌

Link

REIT

6,732,160‌

37,843‌

Mapletree

Industrial

Trust

12,652,300‌

21,320‌

Mapletree

Logistics

Trust

10,716,200‌

13,623‌

Merlin

Properties

Socimi

SA

2,024,150‌

18,863‌

National

Storage

REIT

6,393,961‌

9,987‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

Nippon

Accommodations

Fund

Inc

1,226‌

$

5,811‌

Nippon

Building

Fund

Inc

5,413‌

22,690‌

Prologis

Inc

827,113‌

103,182‌

Prologis

Property

Mexico

SA

de

CV

1,556,402‌

5,780‌

Regency

Centers

Corp

521,201‌

34,154‌

Rexford

Industrial

Realty

Inc

1,057,165‌

58,239‌

Sabra

Health

Care

REIT

Inc

1,638,416‌

21,283‌

Safestore

Holdings

PLC

1,683,428‌

19,137‌

Saul

Centers

Inc

189,503‌

7,305‌

Scentre

Group

4,327,705‌

8,189‌

Segro

PLC

4,244,467‌

41,594‌

Sekisui

House

Reit

Inc

27,341‌

16,229‌

Simon

Property

Group

Inc

103,408‌

12,885‌

Stockland

11,161,339‌

31,721‌

Sun

Communities

Inc

367,979‌

47,948‌

Sunstone

Hotel

Investors

Inc

1,776,442‌

18,102‌

Terreno

Realty

Corp

194,900‌

11,565‌

UNITE

Group

PLC/The

1,174,627‌

14,666‌

Ventas

Inc

1,590,423‌

77,167‌

VICI

Properties

Inc

2,108,330‌

66,370‌

Welltower

Inc

799,295‌

65,662‌

$

1,868,259‌

Telecommunications

-

0

.68

%

NEXTDC

Ltd

(f)

1,726,994‌

14,822‌

TOTAL

COMMON

STOCKS

$

2,134,323‌

Total

Investments

$

2,177,909‌

Other

Assets

and

Liabilities

-  (0.01)%

(

220‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,177,689‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$200

or

0.01%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

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

$11,053

or

0.51%

of

net

assets.

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$188

or

0.01%

of

net

assets.

(f)

Non-income

producing

security

Portfolio

Summary

Location

Percent

United

States

64

.14‌

%

Japan

9

.35‌

%

Hong

Kong

4

.65‌

%

Australia

4

.29‌

%

United

Kingdom

4

.00‌

%

Singapore

3

.73‌

%

Canada

2

.89‌

%

France

2

.28‌

%

Spain

2

.07‌

%

Sweden

1

.29‌

%

Belgium

0

.53‌

%

Germany

0

.53‌

%

Mexico

0

.26‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Global

Real

Estate

Securities

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

68

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

354,918‌

$

311,532‌

$

43,386‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

24,613‌

48,967‌

73,580‌

—‌

$

24,613‌

$

403,885‌

$

385,112‌

$

43,386‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

1,054‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

16‌

—‌

—‌

—‌

$

1,070‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Government

&

High

Quality

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

69

INVESTMENT

COMPANIES

-

2

.68

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

2

.68

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

72‌

$

—‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

16,423,902‌

16,424‌

$

16,424‌

TOTAL

INVESTMENT

COMPANIES

$

16,424‌

BONDS

-

10

.55

%

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

-

1

.85

%

Americredit

Automobile

Receivables

Trust

2023-1

5.84%,

10/19/2026

$

1,200‌

$

1,199‌

CarMax

Auto

Owner

Trust

2022-1

0.91%,

02/18/2025

871‌

869‌

Carvana

Auto

Receivables

Trust

2021-P4

0.82%,

04/10/2025

79‌

79‌

Santander

Drive

Auto

Receivables

Trust

2022-7

5.81%,

01/15/2026

3,181‌

3,179‌

Toyota

Auto

Loan

Extended

Note

Trust

2019-1

2.56%,

11/25/2031

(d)

6,195‌

6,037‌

$

11,363‌

Commercial

Mortgage

Backed

Securities

-

0

.28

%

Ginnie

Mae

0.26%,

10/16/2054

(e),(f)

21,189‌

244‌

0.42%,

04/16/2047

(e),(f)

33,110‌

272‌

0.43%,

10/16/2053

(e),(f)

4,007‌

61‌

0.44%,

06/16/2057

(e),(f)

3,687‌

75‌

0.56%,

08/16/2051

(e),(f)

23,697‌

448‌

0.58%,

03/16/2060

(e),(f)

8,995‌

353‌

0.62%,

07/16/2060

(e),(f)

6,698‌

275‌

$

1,728‌

Mortgage

Backed

Securities

-

7

.78

%

Citigroup

Mortgage

Loan

Trust

2015-PS1

5.25%,

09/25/2042

(d),(f)

3,905‌

3,798‌

CSMC

Trust

2015-1

3.91%,

01/25/2045

(d),(f)

2,922‌

2,716‌

Fannie

Mae

Interest

Strip

3.50%,

12/25/2043

(e),(f)

1,588‌

222‌

7.00%,

04/25/2024

(e)

1‌

—‌

Fannie

Mae

REMICS

0.00%,

06/25/2045

(e),(g)

4,910‌

182‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.00%

0.82%,

09/25/2046

(e)

12,463‌

1,226‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.89%

0.87%,

09/25/2049

(e)

5,452‌

584‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

2.50%,

02/25/2028

(e)

3,021‌

114‌

3.00%,

07/25/2032

(e)

3,950‌

298‌

3.00%,

10/25/2040

(e)

1,481‌

50‌

3.00%,

04/25/2042

798‌

763‌

3.00%,

05/25/2048

834‌

727‌

3.00%,

01/25/2051

(e)

12,622‌

2,070‌

3.50%,

02/25/2036

(e)

2,662‌

253‌

3.50%,

02/25/2043

185‌

178‌

3.50%,

02/25/2043

(e)

1,696‌

50‌

3.50%,

07/25/2043

(e)

4,296‌

332‌

3.50%,

08/25/2045

1,265‌

1,229‌

4.50%,

04/25/2045

(e)

7,478‌

1,580‌

5.78%,

04/25/2027

2‌

2‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.71%

7.00%,

04/25/2032

340‌

351‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Mortgage

Backed

Securities

(continued)

Freddie

Mac

REMICS

0.87%,

11/25/2049

(e)

$

6,432‌

$

707‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.94%

0.92%,

08/25/2050

(e)

8,749‌

996‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.99%

3.00%,

04/15/2046

898‌

812‌

4.00%,

11/15/2042

(e)

1,665‌

241‌

4.00%,

11/15/2045

553‌

528‌

6.50%,

08/15/2027

14‌

14‌

Ginnie

Mae

0.73%,

06/20/2046

(e)

2,158‌

227‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.99%

0.83%,

10/20/2045

(e)

4,897‌

555‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.09%

0.83%,

11/20/2047

(e)

3,465‌

367‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.09%

0.93%,

08/20/2050

(e)

12,542‌

1,525‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.19%

0.93%,

07/20/2051

(e)

9,089‌

1,077‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.19%

0.93%,

08/20/2051

(e)

10,233‌

1,184‌

(1.00)

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.19%

3.00%,

07/20/2050

(e)

7,574‌

1,064‌

3.00%,

09/20/2050

(e)

14,398‌

2,103‌

3.00%,

10/20/2050

(e)

10,520‌

1,570‌

3.00%,

11/20/2050

(e)

12,577‌

1,826‌

3.00%,

11/20/2050

(e)

20,446‌

2,957‌

3.00%,

12/20/2050

(e)

8,010‌

1,212‌

3.50%,

01/20/2043

(e)

7,069‌

1,111‌

3.50%,

10/20/2049

(e)

12,087‌

1,935‌

4.00%,

04/20/2044

(e)

1,628‌

121‌

4.00%,

01/20/2046

(e)

1,699‌

101‌

JP

Morgan

Mortgage

Trust

2016-4

3.50%,

10/25/2046

(d),(f)

688‌

616‌

New

Residential

Mortgage

Loan

Trust

2015-2

5.37%,

08/25/2055

(d),(f)

3,693‌

3,477‌

NRP

Mortgage

Trust

2013-1

3.28%,

07/25/2043

(d),(f)

2,114‌

1,588‌

Sequoia

Mortgage

Trust

2013-2

3.63%,

02/25/2043

(f)

1,176‌

1,101‌

Sequoia

Mortgage

Trust

2017-3

3.75%,

04/25/2047

(d),(f)

1,970‌

1,744‌

Sequoia

Mortgage

Trust

2017-5

3.50%,

08/25/2047

(d),(f)

206‌

181‌

$

47,665‌

Other

Asset

Backed

Securities

-

0

.64

%

HPEFS

Equipment

Trust

2022-2

3.15%,

09/20/2029

(d)

3,971‌

3,937‌

TOTAL

BONDS

$

64,693‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

95

.16

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

7

.47

%

2.50%,

08/01/2027

$

297‌

$

284‌

3.00%,

02/01/2027

706‌

682‌

3.00%,

01/01/2033

1,846‌

1,735‌

3.00%,

04/01/2035

843‌

784‌

3.00%,

03/01/2037

1,760‌

1,619‌

3.00%,

10/01/2042

3,107‌

2,792‌

3.00%,

05/01/2043

1,173‌

1,054‌

Schedule

of

Investments

Government

&

High

Quality

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

70

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

3.00%,

07/01/2045

$

2,876‌

$

2,584‌

3.00%,

10/01/2046

4,124‌

3,700‌

3.50%,

11/01/2026

434‌

423‌

3.50%,

02/01/2032

1,262‌

1,207‌

3.50%,

04/01/2032

1,186‌

1,135‌

3.50%,

12/01/2041

1,125‌

1,048‌

3.50%,

04/01/2042

2,587‌

2,412‌

3.50%,

07/01/2042

3,440‌

3,206‌

3.50%,

08/01/2043

2,301‌

2,138‌

3.50%,

02/01/2044

2,282‌

2,115‌

3.50%,

11/01/2046

1,954‌

1,806‌

4.00%,

12/01/2041

1,969‌

1,903‌

4.00%,

07/01/2042

1,584‌

1,531‌

4.00%,

09/15/2042

575‌

552‌

4.00%,

10/01/2045

3,428‌

3,300‌

4.22%,

10/01/2032

1‌

1‌

1.00

x

12

Month

USD

LIBOR

+

1.98%

4.50%,

04/01/2041

2,063‌

2,026‌

5.00%,

10/01/2025

8‌

8‌

5.00%,

12/01/2032

9‌

9‌

5.00%,

02/01/2033

132‌

133‌

5.00%,

01/01/2034

1,392‌

1,399‌

5.00%,

05/01/2034

23‌

22‌

5.00%,

07/01/2035

13‌

13‌

5.00%,

07/01/2035

1‌

1‌

5.00%,

10/01/2035

3‌

3‌

5.00%,

11/01/2035

127‌

128‌

5.00%,

07/01/2044

1,072‌

1,077‌

5.00%,

03/01/2048

2,015‌

2,019‌

5.50%,

05/01/2033

2‌

2‌

5.50%,

10/01/2033

5‌

5‌

5.50%,

12/01/2033

114‌

117‌

5.50%,

07/01/2037

6‌

6‌

5.50%,

04/01/2038

3‌

2‌

5.50%,

05/01/2038

10‌

10‌

6.00%,

06/01/2028

2‌

2‌

6.00%,

05/01/2031

30‌

30‌

6.00%,

10/01/2031

1‌

1‌

6.00%,

02/01/2032

8‌

8‌

6.00%,

11/01/2033

130‌

131‌

6.00%,

09/01/2034

24‌

25‌

6.00%,

02/01/2035

13‌

13‌

6.00%,

10/01/2036

15‌

16‌

6.00%,

03/01/2037

38‌

38‌

6.00%,

05/01/2037

59‌

61‌

6.00%,

03/01/2038

20‌

20‌

6.00%,

04/01/2038

30‌

30‌

6.00%,

07/01/2038

54‌

55‌

6.00%,

10/01/2038

37‌

38‌

6.50%,

03/01/2029

10‌

11‌

6.50%,

04/01/2031

26‌

27‌

6.50%,

10/01/2031

20‌

20‌

6.50%,

02/01/2032

3‌

3‌

6.50%,

04/01/2032

3‌

3‌

6.50%,

04/01/2035

2‌

2‌

7.00%,

01/01/2028

67‌

67‌

7.00%,

06/01/2029

24‌

25‌

7.00%,

04/01/2031

18‌

18‌

7.00%,

10/01/2031

39‌

39‌

7.00%,

04/01/2032

53‌

55‌

7.50%,

12/01/2030

2‌

2‌

7.50%,

02/01/2031

1‌

1‌

7.50%,

02/01/2031

4‌

4‌

8.50%,

07/01/2029

48‌

49‌

$

45,785‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)

-

0

.55

%

3.00%,

04/01/2043

$

2,965‌

$

2,655‌

3.93%,

12/01/2033

15‌

15‌

1.00

x

12

Month

USD

LIBOR

+

1.68%

5.50%,

05/01/2033

49‌

49‌

6.00%,

01/01/2032

60‌

59‌

6.00%,

04/01/2033

87‌

87‌

6.00%,

09/01/2034

150‌

149‌

6.50%,

06/01/2031

26‌

26‌

6.50%,

11/01/2032

163‌

162‌

6.50%,

11/01/2032

63‌

63‌

7.00%,

08/01/2028

16‌

16‌

7.00%,

12/01/2028

22‌

22‌

7.00%,

07/01/2029

15‌

16‌

7.00%,

07/01/2032

16‌

16‌

7.50%,

12/01/2024

10‌

10‌

7.50%,

02/01/2030

19‌

19‌

$

3,364‌

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

59

.92

%

2.00%,

08/01/2028

654‌

613‌

2.00%,

11/01/2035

7,811‌

6,946‌

2.00%,

03/01/2051

12,976‌

10,674‌

2.00%,

05/01/2051

16,435‌

13,473‌

2.00%,

11/01/2051

10,730‌

8,771‌

2.00%,

11/01/2051

9,782‌

7,964‌

2.00%,

12/01/2051

17,815‌

14,562‌

2.00%,

12/01/2051

18,253‌

14,940‌

2.00%,

01/01/2052

15,210‌

12,373‌

2.00%,

02/01/2052

11,809‌

9,729‌

2.00%,

02/01/2052

14,340‌

11,699‌

2.50%,

06/01/2027

1,032‌

986‌

2.50%,

05/01/2028

553‌

524‌

2.50%,

08/01/2028

722‌

685‌

2.50%,

03/01/2030

2,146‌

1,988‌

2.50%,

12/01/2031

3,101‌

2,864‌

2.50%,

08/01/2035

6,739‌

6,165‌

2.50%,

08/01/2050

8,567‌

7,315‌

2.50%,

07/01/2051

12,349‌

10,517‌

2.50%,

12/01/2051

6,483‌

5,536‌

2.50%,

12/01/2051

13,590‌

11,722‌

2.50%,

12/01/2051

15,152‌

13,018‌

2.50%,

01/01/2052

13,058‌

11,219‌

2.50%,

02/01/2052

12,722‌

10,811‌

2.50%,

04/01/2052

8,009‌

6,836‌

3.00%,

05/01/2029

1,518‌

1,443‌

3.00%,

01/01/2030

138‌

131‌

3.00%,

08/01/2031

2,948‌

2,768‌

3.00%,

10/01/2036

2,827‌

2,604‌

3.00%,

12/01/2042

2,950‌

2,647‌

3.00%,

01/01/2043

2,565‌

2,302‌

3.00%,

07/01/2045

1,187‌

1,065‌

3.00%,

01/01/2046

2,661‌

2,388‌

3.00%,

07/01/2046

3,049‌

2,717‌

3.00%,

10/01/2046

3,471‌

3,096‌

3.00%,

12/01/2046

3,617‌

3,218‌

3.00%,

08/01/2049

1,550‌

1,368‌

3.00%,

10/01/2049

3,932‌

3,473‌

3.00%,

12/01/2049

3,746‌

3,306‌

3.00%,

07/01/2050

5,838‌

5,137‌

3.00%,

08/01/2050

4,531‌

3,987‌

3.00%,

09/01/2050

7,532‌

6,638‌

3.50%,

08/01/2031

1,593‌

1,527‌

3.50%,

06/01/2039

1,391‌

1,303‌

3.50%,

06/01/2042

1,094‌

1,019‌

3.50%,

11/01/2042

2,107‌

1,962‌

3.50%,

02/01/2043

1,003‌

936‌

3.50%,

05/01/2043

1,454‌

1,357‌

3.50%,

03/01/2045

2,166‌

2,006‌

Schedule

of

Investments

Government

&

High

Quality

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

71

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.50%,

03/01/2045

$

1,080‌

$

1,000‌

3.50%,

09/01/2045

2,081‌

1,925‌

3.50%,

11/01/2048

6,945‌

6,482‌

3.50%,

03/01/2050

8,512‌

7,935‌

4.00%,

01/01/2034

434‌

422‌

4.00%,

10/01/2037

1,826‌

1,750‌

4.00%,

09/01/2040

889‌

851‌

4.00%,

02/01/2042

878‌

846‌

4.00%,

03/01/2043

1,379‌

1,319‌

4.00%,

08/01/2044

1,708‌

1,648‌

4.00%,

11/01/2044

1,352‌

1,304‌

4.00%,

07/01/2045

2,237‌

2,156‌

4.00%,

08/01/2045

2,545‌

2,455‌

4.00%,

08/01/2046

3,848‌

3,669‌

4.00%,

07/01/2047

3,596‌

3,464‌

4.00%,

10/01/2047

2,756‌

2,648‌

4.00%,

02/01/2048

3,096‌

2,978‌

4.50%,

09/01/2025

169‌

167‌

4.50%,

08/01/2039

1,154‌

1,135‌

4.50%,

09/01/2043

1,888‌

1,846‌

4.50%,

09/01/2043

2,557‌

2,511‌

4.50%,

11/01/2043

2,256‌

2,197‌

4.50%,

10/01/2044

1,643‌

1,613‌

4.50%,

12/01/2044

3,334‌

3,269‌

4.50%,

05/01/2045

1,556‌

1,528‌

4.50%,

09/01/2045

2,003‌

1,961‌

4.50%,

10/01/2045

2,922‌

2,861‌

4.50%,

11/01/2045

3,869‌

3,791‌

5.00%,

01/01/2026

9‌

9‌

5.00%,

04/01/2035

62‌

61‌

5.00%,

05/01/2035

25‌

25‌

5.00%,

07/01/2035

9‌

9‌

5.00%,

02/01/2038

924‌

929‌

5.00%,

03/01/2038

501‌

503‌

5.00%,

02/01/2040

2,634‌

2,668‌

5.00%,

05/01/2040

1,062‌

1,066‌

5.00%,

07/01/2040

572‌

571‌

5.00%,

07/01/2041

2,889‌

2,900‌

5.00%,

02/01/2044

1,295‌

1,297‌

5.00%,

06/01/2044

1,262‌

1,267‌

5.00%,

05/01/2048

2,245‌

2,246‌

5.50%,

06/01/2026

10‌

10‌

5.50%,

07/01/2033

238‌

243‌

5.50%,

02/01/2037

1‌

1‌

5.50%,

12/01/2037

367‌

370‌

5.50%,

03/01/2038

77‌

79‌

5.50%,

09/01/2053

(h)

15,000‌

14,898‌

6.00%,

03/01/2029

12‌

13‌

6.00%,

12/01/2031

1‌

1‌

6.00%,

11/01/2032

5‌

5‌

6.00%,

11/01/2037

10‌

10‌

6.00%,

02/01/2038

30‌

31‌

6.00%,

03/01/2038

26‌

27‌

6.00%,

04/01/2039

219‌

221‌

6.00%,

08/01/2053

(h)

11,300‌

11,367‌

6.50%,

08/01/2028

8‌

8‌

6.50%,

03/01/2029

13‌

14‌

6.50%,

06/01/2031

46‌

47‌

6.50%,

12/01/2031

1‌

1‌

6.50%,

01/01/2032

23‌

23‌

6.50%,

04/01/2032

4‌

4‌

6.50%,

04/01/2032

1‌

1‌

6.50%,

08/01/2032

33‌

33‌

6.50%,

02/01/2033

41‌

41‌

6.50%,

04/01/2036

2‌

2‌

6.50%,

08/01/2036

15‌

15‌

6.50%,

08/01/2036

17‌

18‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

6.50%,

10/01/2036

$

13‌

$

13‌

6.50%,

11/01/2036

10‌

11‌

6.50%,

07/01/2037

10‌

10‌

6.50%,

07/01/2037

3‌

3‌

6.50%,

08/01/2037

13‌

14‌

6.50%,

08/01/2037

143‌

148‌

6.50%,

02/01/2038

13‌

13‌

6.50%,

05/01/2038

1‌

1‌

7.00%,

11/01/2031

53‌

53‌

7.50%,

08/01/2032

4‌

4‌

$

367,363‌

Government

National

Mortgage

Association

(GNMA)

-

22

.10

%

2.00%,

08/20/2050

9,513‌

8,005‌

2.00%,

02/20/2051

16,215‌

13,593‌

2.50%,

06/20/2050

16,637‌

14,430‌

3.00%,

11/15/2042

1,389‌

1,257‌

3.00%,

12/15/2042

1,712‌

1,547‌

3.00%,

02/15/2043

2,501‌

2,260‌

3.00%,

07/20/2045

4,898‌

4,460‌

3.00%,

07/20/2046

1,624‌

1,472‌

3.00%,

08/20/2046

3,548‌

3,209‌

3.00%,

09/20/2046

4,299‌

3,891‌

3.00%,

09/20/2046

3,495‌

3,133‌

3.00%,

11/20/2046

2,040‌

1,826‌

3.00%,

12/20/2046

2,243‌

2,028‌

3.00%,

02/20/2047

2,852‌

2,576‌

3.00%,

08/20/2047

1,688‌

1,522‌

3.00%,

11/15/2047

4,003‌

3,659‌

3.50%,

08/20/2042

1,731‌

1,601‌

3.50%,

05/15/2043

3,093‌

2,897‌

3.50%,

06/20/2043

2,339‌

2,164‌

3.50%,

08/15/2043

2,820‌

2,640‌

3.50%,

04/20/2045

1,488‌

1,388‌

3.50%,

02/20/2047

1,171‌

1,092‌

3.50%,

05/20/2047

6,420‌

6,131‌

3.50%,

10/20/2047

2,053‌

1,912‌

3.50%,

11/20/2047

1,977‌

1,891‌

4.00%,

08/15/2041

1,328‌

1,271‌

4.00%,

09/15/2041

2,617‌

2,505‌

4.00%,

03/15/2044

1,643‌

1,581‌

4.00%,

10/20/2044

1,571‌

1,495‌

4.00%,

01/20/2048

7,231‌

6,900‌

4.50%,

08/20/2048

1,554‌

1,514‌

4.50%,

08/20/2053

(h)

6,500‌

6,252‌

5.00%,

02/15/2034

45‌

45‌

5.00%,

10/15/2039

1,077‌

1,076‌

5.50%,

07/20/2033

381‌

386‌

5.50%,

03/20/2034

407‌

416‌

5.50%,

05/20/2035

39‌

40‌

5.50%,

08/20/2053

(h)

3,500‌

3,478‌

6.00%,

11/15/2023

1‌

1‌

6.00%,

04/20/2026

9‌

9‌

6.00%,

10/20/2028

2‌

2‌

6.00%,

02/20/2029

17‌

17‌

6.00%,

02/15/2033

9‌

9‌

6.00%,

07/20/2033

316‌

330‌

6.00%,

08/15/2038

26‌

26‌

6.00%,

08/20/2053

(h)

17,000‌

17,084‌

6.50%,

04/15/2024

1‌

1‌

6.50%,

07/15/2024

1‌

1‌

6.50%,

03/15/2026

1‌

1‌

6.50%,

07/20/2026

1‌

1‌

6.50%,

10/20/2028

2‌

2‌

6.50%,

03/20/2031

18‌

18‌

6.50%,

04/20/2031

15‌

16‌

6.50%,

10/15/2031

6‌

6‌

6.50%,

07/15/2032

1‌

1‌

Schedule

of

Investments

Government

&

High

Quality

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

72

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Government

National

Mortgage

Association

(GNMA)

(continued)

6.50%,

05/20/2034

$

235‌

$

241‌

7.00%,

10/15/2027

1‌

1‌

7.00%,

10/15/2027

4‌

4‌

7.00%,

04/15/2028

1‌

1‌

7.00%,

06/15/2028

42‌

42‌

7.00%,

12/15/2028

21‌

21‌

7.00%,

01/15/2029

21‌

21‌

7.00%,

03/15/2029

13‌

13‌

7.00%,

04/15/2029

68‌

68‌

7.00%,

05/15/2031

2‌

2‌

7.50%,

03/15/2024

1‌

1‌

7.50%,

05/15/2027

1‌

1‌

7.50%,

06/15/2027

3‌

3‌

7.50%,

08/15/2029

7‌

7‌

7.50%,

10/15/2029

10‌

10‌

8.00%,

12/15/2030

2‌

2‌

$

135,506‌

U.S.

Treasury

Bill

-

5

.12

%

4.35%,

11/30/2023

(i)

6,575‌

6,459‌

5.08%,

12/28/2023

(i)

25,500‌

24,944‌

$

31,403‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

583,421‌

Total

Investments

$

664,538‌

Other

Assets

and

Liabilities

-  (8.39)%

(

51,423‌

)

TOTAL

NET

ASSETS

-

100.00%

$

613,115‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$0

or

0.00%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

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

$24,094

or

3.93%

of

net

assets.

(e)

Security

is

an

Interest

Only

Strip.

(f)

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.

(g)

Non-income

producing

security

(h)

Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(i)

Rate

shown

is

the

discount

rate

of

the

original

purchase.

Portfolio

Summary

Sector

Percent

Mortgage

Securities

98

.10‌

%

Government

5

.12‌

%

Money

Market

Funds

2

.68‌

%

Asset

Backed

Securities

2

.49‌

%

Other

Assets

and

Liabilities

(

8

.39‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

237,787‌

$

221,363‌

$

16,424‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

9,538‌

23,266‌

32,804‌

—‌

$

9,538‌

$

261,053‌

$

254,167‌

$

16,424‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

291‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

25‌

—‌

—‌

—‌

$

316‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

10

Year

Note;

September

2023

Long

145‌

$

16,154‌

$

(

307‌

)

US

5

Year

Note;

September

2023

Short

231‌

24,676‌

532‌

US

Long

Bond;

September

2023

Long

374‌

46,540‌

(

941‌

)

Total

$

(

716‌

)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

73

INVESTMENT

COMPANIES

-

5.65%

Shares

Held

Value

(000's)

Money

Market

Funds

-

5.65%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

40,165,084‌

$

40,165‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b),(c)

142,448,260‌

142,448‌

$

182,613‌

TOTAL

INVESTMENT

COMPANIES

$

182,613‌

COMMON

STOCKS

-

0.50%

Shares

Held

Value

(000's)

Distribution

&

Wholesale

-

0.12%

ATD

New

Holdings

Inc

(d)

101,514‌

$

4,060‌

Electric

-

0.00%

Vistra

Energy

Corp

-

Rights

(e)

164,087‌

—‌

Leisure

Products

&

Services

-

0.03%

CWT

Travel

Group

(d)

209,235‌

872‌

CWT

Travel

Holdings

Inc

-

Class

A

Warrants

(d)

28,222‌

—‌

CWT

Travel

Holdings

Inc

-

Class

B

Warrants

(d)

29,708‌

—‌

$

872‌

Mining

-

0.12%

Arctic

Canadian

Diamond

Co

Ltd

(d),(e)

5,247‌

2,475‌

Burgundy

Diamond

Mines

Ltd

(d)

9,531,558‌

1,533‌

$

4,008‌

Miscellaneous

Manufacturers

-

0.22%

Utex

Industries

(d)

111,195‌

7,191‌

Utex

Industries

-

Warrants

(d),(e)

51,625‌

5‌

$

7,196‌

Oil

&

Gas

-

0.00%

Sabine

Oil

&

Gas

Holdings

Inc

(d),(e)

246‌

—‌

Software

-

0.01%

Skillsoft

Corp

(d)

189,362‌

250‌

Telecommunications

-

0.00%

Goodman

Networks

Inc

(d),(e)

15,207‌

—‌

TOTAL

COMMON

STOCKS

$

16,386‌

CONVERTIBLE

PREFERRED

STOCKS

-

0.02%

Shares

Held

Value

(000's)

Leisure

Products

&

Services

-

0.02%

Carlson

Travel

Inc

0.00%

(d),(e)

10,466‌

$

628‌

TOTAL

CONVERTIBLE

PREFERRED

STOCKS

$

628‌

PREFERRED

STOCKS

-

0.00%

Shares

Held

Value

(000's)

Telecommunications

-

0.00%

Goodman

Networks

Inc

0.00%

(d),(e)

18,092‌

$

—‌

TOTAL

PREFERRED

STOCKS

$

—‌

BONDS

-

86.97%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

0.96%

Advantage

Sales

&

Marketing

Inc

6.50%,

11/15/2028

(f),(g)

$

1,555‌

$

1,353‌

Clear

Channel

International

BV

6.63%,

08/01/2025

(f),(g)

250‌

249‌

Clear

Channel

Outdoor

Holdings

Inc

5.13%,

08/15/2027

(g)

1,198‌

1,100‌

7.50%,

06/01/2029

(g)

1,245‌

991‌

7.75%,

04/15/2028

(g)

1,000‌

836‌

CMG

Media

Corp

8.88%,

12/15/2027

(g)

1,333‌

1,041‌

Lamar

Media

Corp

3.63%,

01/15/2031

645‌

540‌

3.75%,

02/15/2028

671‌

612‌

4.00%,

02/15/2030

750‌

660‌

4.88%,

01/15/2029

500‌

466‌

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp

4.25%,

01/15/2029

(g)

9,670‌

8,208‌

4.63%,

03/15/2030

(g)

5,299‌

4,434‌

5.00%,

08/15/2027

(f),(g)

10,391‌

9,605‌

Stagwell

Global

LLC

5.63%,

08/15/2029

(g)

1,060‌

902‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Advertising

(continued)

Summer

BC

Bidco

B

LLC

5.50%,

10/31/2026

(g)

$

200‌

$

170‌

$

31,167‌

Aerospace

&

Defense

-

2.47%

Bombardier

Inc

6.00%,

02/15/2028

(f),(g)

500‌

470‌

7.13%,

06/15/2026

(g)

1,100‌

1,091‌

7.50%,

02/01/2029

(g)

476‌

472‌

7.88%,

04/15/2027

(g)

1,360‌

1,356‌

F-Brasile

SpA

/

F-Brasile

US

LLC

7.38%,

08/15/2026

(g)

650‌

598‌

Howmet

Aerospace

Inc

3.00%,

01/15/2029

714‌

623‌

5.13%,

10/01/2024

978‌

968‌

5.90%,

02/01/2027

840‌

848‌

5.95%,

02/01/2037

710‌

722‌

6.75%,

01/15/2028

420‌

436‌

6.88%,

05/01/2025

790‌

802‌

Moog

Inc

4.25%,

12/15/2027

(g)

500‌

463‌

Rolls-Royce

PLC

3.63%,

10/14/2025

(g)

2,035‌

1,916‌

5.75%,

10/15/2027

(g)

1,107‌

1,091‌

Spirit

AeroSystems

Inc

4.60%,

06/15/2028

1,138‌

968‌

7.50%,

04/15/2025

(g)

1,600‌

1,599‌

9.38%,

11/30/2029

(g)

795‌

851‌

TransDigm

Inc

4.63%,

01/15/2029

5,064‌

4,520‌

4.88%,

05/01/2029

16,234‌

14,607‌

5.50%,

11/15/2027

10,938‌

10,367‌

6.25%,

03/15/2026

(g)

15,933‌

15,848‌

6.38%,

06/15/2026

2,548‌

2,522‌

6.75%,

08/15/2028

(g)

6,022‌

6,040‌

7.50%,

03/15/2027

5,450‌

5,448‌

TransDigm

UK

Holdings

PLC

6.88%,

05/15/2026

880‌

876‌

Triumph

Group

Inc

7.75%,

08/15/2025

546‌

527‌

9.00%,

03/15/2028

(g)

3,624‌

3,722‌

$

79,751‌

Agriculture

-

0.12%

Darling

Ingredients

Inc

6.00%,

06/15/2030

(g)

1,600‌

1,576‌

Turning

Point

Brands

Inc

5.63%,

02/15/2026

(g)

400‌

372‌

Vector

Group

Ltd

5.75%,

02/01/2029

(g)

1,426‌

1,239‌

10.50%,

11/01/2026

(g)

790‌

790‌

$

3,977‌

Airlines

-

1.61%

Air

Canada

3.88%,

08/15/2026

(g)

7,444‌

6,908‌

Air

Canada

2020-1

Class

C

Pass

Through

Trust

10.50%,

07/15/2026

(g)

290‌

314‌

Allegiant

Travel

Co

7.25%,

08/15/2027

(g)

598‌

590‌

American

Airlines

2013-1

Class

A

Pass

Through

Trust

4.00%,

01/15/2027

791‌

742‌

American

Airlines

2014-1

Class

A

Pass

Through

Trust

3.70%,

04/01/2028

637‌

583‌

American

Airlines

2015-1

Class

A

Pass

Through

Trust

3.38%,

11/01/2028

790‌

710‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

74

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Airlines

(continued)

American

Airlines

2016-1

Class

A

Pass

Through

Trust

4.10%,

07/15/2029

$

370‌

$

336‌

American

Airlines

2016-2

Class

A

Pass

Through

Trust

3.65%,

12/15/2029

544‌

473‌

American

Airlines

2021-1

Class

B

Pass

Through

Trust

3.95%,

01/11/2032

1,602‌

1,386‌

American

Airlines

Inc

7.25%,

02/15/2028

(g)

756‌

751‌

11.75%,

07/15/2025

(g)

1,465‌

1,615‌

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.50%,

04/20/2026

(g)

4,221‌

4,158‌

5.75%,

04/20/2029

(g)

8,255‌

7,992‌

Delta

Air

Lines

Inc

2.90%,

10/28/2024

855‌

821‌

3.75%,

10/28/2029

(f)

510‌

461‌

4.38%,

04/19/2028

770‌

731‌

7.38%,

01/15/2026

840‌

872‌

Hawaiian

Airlines

2013-1

Class

A

Pass

Through

Certificates

3.90%,

07/15/2027

127‌

114‌

Hawaiian

Brand

Intellectual

Property

Ltd

/

HawaiianMiles

Loyalty

Ltd

5.75%,

01/20/2026

(g)

5,385‌

5,083‌

Spirit

Loyalty

Cayman

Ltd

/

Spirit

IP

Cayman

Ltd

8.00%,

09/20/2025

(g)

588‌

594‌

8.00%,

09/20/2025

(g)

1,377‌

1,389‌

United

Airlines

2019-2

Class

B

Pass

Through

Trust

3.50%,

11/01/2029

188‌

170‌

United

Airlines

Holdings

Inc

4.88%,

01/15/2025

(f)

363‌

353‌

United

Airlines

Inc

4.38%,

04/15/2026

(g)

2,491‌

2,359‌

4.63%,

04/15/2029

(g)

2,220‌

2,008‌

US

Airways

2012-2

Class

A

Pass

Through

Trust

4.63%,

12/03/2026

214‌

202‌

US

Airways

2013-1

Class

A

Pass

Through

Trust

3.95%,

05/15/2027

217‌

204‌

VistaJet

Malta

Finance

PLC

/

Vista

Management

Holding

Inc

6.38%,

02/01/2030

(g)

3,605‌

3,052‌

7.88%,

05/01/2027

(g)

700‌

649‌

9.50%,

06/01/2028

(g)

6,688‌

6,387‌

$

52,007‌

Apparel

-

0.49%

Crocs

Inc

4.13%,

08/15/2031

(g)

270‌

217‌

4.25%,

03/15/2029

(g)

200‌

170‌

Hanesbrands

Inc

4.88%,

05/15/2026

(f),(g)

1,775‌

1,665‌

9.00%,

02/15/2031

(f),(g)

10,375‌

10,608‌

Kontoor

Brands

Inc

4.13%,

11/15/2029

(g)

1,004‌

858‌

Levi

Strauss

&

Co

3.50%,

03/01/2031

(f),(g)

538‌

441‌

Under

Armour

Inc

3.25%,

06/15/2026

800‌

733‌

William

Carter

Co/The

5.63%,

03/15/2027

(g)

846‌

825‌

Wolverine

World

Wide

Inc

4.00%,

08/15/2029

(g)

500‌

393‌

$

15,910‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Manufacturers

-

2.91%

Allison

Transmission

Inc

3.75%,

01/30/2031

(g)

$

1,440‌

$

1,217‌

4.75%,

10/01/2027

(g)

570‌

539‌

5.88%,

06/01/2029

(g)

726‌

702‌

Aston

Martin

Capital

Holdings

Ltd

10.50%,

11/30/2025

(g)

1,514‌

1,531‌

Ford

Holdings

LLC

9.30%,

03/01/2030

349‌

388‌

Ford

Motor

Co

3.25%,

02/12/2032

2,475‌

1,957‌

4.35%,

12/08/2026

1,205‌

1,174‌

4.75%,

01/15/2043

2,133‌

1,669‌

5.29%,

12/08/2046

1,360‌

1,124‌

6.10%,

08/19/2032

(f)

1,734‌

1,678‌

6.38%,

02/01/2029

214‌

212‌

6.63%,

10/01/2028

320‌

330‌

7.40%,

11/01/2046

430‌

448‌

7.45%,

07/16/2031

(f)

10,238‌

10,986‌

7.50%,

08/01/2026

50‌

51‌

9.63%,

04/22/2030

6,380‌

7,447‌

Ford

Motor

Credit

Co

LLC

2.30%,

02/10/2025

1,050‌

985‌

2.70%,

08/10/2026

924‌

828‌

2.90%,

02/16/2028

2,175‌

1,871‌

2.90%,

02/10/2029

690‌

576‌

3.38%,

11/13/2025

2,457‌

2,297‌

3.63%,

06/17/2031

455‌

376‌

3.66%,

09/08/2024

875‌

848‌

3.82%,

11/02/2027

5,775‌

5,184‌

4.00%,

11/13/2030

18,745‌

16,103‌

4.06%,

11/01/2024

1,444‌

1,401‌

4.13%,

08/04/2025

1,640‌

1,564‌

4.13%,

08/17/2027

5,630‌

5,152‌

4.27%,

01/09/2027

1,020‌

952‌

4.39%,

01/08/2026

1,465‌

1,392‌

4.54%,

08/01/2026

855‌

808‌

4.69%,

06/09/2025

622‌

603‌

4.95%,

05/28/2027

1,460‌

1,385‌

5.11%,

05/03/2029

2,742‌

2,560‌

5.13%,

06/16/2025

1,865‌

1,816‌

6.95%,

03/06/2026

1,447‌

1,461‌

6.95%,

06/10/2026

1,812‌

1,827‌

7.20%,

06/10/2030

4,788‌

4,909‌

7.35%,

11/04/2027

1,702‌

1,744‌

7.35%,

03/06/2030

1,325‌

1,372‌

Jaguar

Land

Rover

Automotive

PLC

4.50%,

10/01/2027

(f),(g)

525‌

470‌

5.50%,

07/15/2029

(g)

534‌

473‌

5.88%,

01/15/2028

(g)

1,122‌

1,049‌

7.75%,

10/15/2025

(g)

1,070‌

1,083‌

JB

Poindexter

&

Co

Inc

7.13%,

04/15/2026

(g)

625‌

617‌

PM

General

Purchaser

LLC

9.50%,

10/01/2028

(g)

675‌

662‌

Wabash

National

Corp

4.50%,

10/15/2028

(g)

413‌

348‌

$

94,169‌

Automobile

Parts

&

Equipment

-

1.24%

Adient

Global

Holdings

Ltd

4.88%,

08/15/2026

(g)

570‌

547‌

8.25%,

04/15/2031

(g)

585‌

601‌

American

Axle

&

Manufacturing

Inc

5.00%,

10/01/2029

360‌

307‌

6.50%,

04/01/2027

(f)

295‌

287‌

Clarios

Global

LP

6.75%,

05/15/2025

(g)

510‌

511‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

75

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Parts

&

Equipment

(continued)

Clarios

Global

LP

/

Clarios

US

Finance

Co

6.25%,

05/15/2026

(g)

$

9,209‌

$

9,202‌

6.75%,

05/15/2028

(g)

975‌

979‌

8.50%,

05/15/2027

(g)

2,145‌

2,172‌

Cooper-Standard

Automotive

Inc

0.00%,

PIK

10.63%;

05/15/2027

(d),(g),(h),(i)

213‌

128‌

Dana

Financing

Luxembourg

Sarl

5.75%,

04/15/2025

(g)

151‌

149‌

Dana

Inc

4.25%,

09/01/2030

372‌

318‌

4.50%,

02/15/2032

530‌

442‌

5.38%,

11/15/2027

428‌

410‌

5.63%,

06/15/2028

325‌

309‌

Dealer

Tire

LLC

/

DT

Issuer

LLC

8.00%,

02/01/2028

(g)

794‌

730‌

Dornoch

Debt

Merger

Sub

Inc

6.63%,

10/15/2029

(g)

8,725‌

7,480‌

Goodyear

Tire

&

Rubber

Co/The

4.88%,

03/15/2027

(f)

367‌

352‌

5.00%,

05/31/2026

295‌

287‌

5.00%,

07/15/2029

(f)

610‌

563‌

5.25%,

04/30/2031

(f)

577‌

523‌

5.25%,

07/15/2031

699‌

622‌

5.63%,

04/30/2033

500‌

448‌

7.00%,

03/15/2028

117‌

118‌

9.50%,

05/31/2025

623‌

639‌

IHO

Verwaltungs

GmbH

4.75%,

PIK

5.50%;

09/15/2026

(g),(h),(i)

925‌

852‌

6.00%,

PIK

6.75%;

05/15/2027

(g),(h),(i)

605‌

573‌

6.38%,

PIK

7.13%;

05/15/2029

(g),(h),(i)

825‌

767‌

Real

Hero

Merger

Sub

2

Inc

6.25%,

02/01/2029

(g)

8,157‌

6,580‌

Titan

International

Inc

7.00%,

04/30/2028

243‌

234‌

Wheel

Pros

Inc

6.50%,

05/15/2029

(g)

400‌

134‌

ZF

North

America

Capital

Inc

4.75%,

04/29/2025

(g)

1,680‌

1,634‌

7.13%,

04/14/2030

(g)

1,100‌

1,133‌

$

40,031‌

Banks

-

0.35%

Dresdner

Funding

Trust

I

8.15%,

06/30/2031

(g)

1,344‌

1,431‌

Freedom

Mortgage

Corp

8.13%,

11/15/2024

(g)

280‌

278‌

8.25%,

04/15/2025

(g)

600‌

593‌

Intesa

Sanpaolo

SpA

4.20%,

06/01/2032

(g),(j)

1,020‌

785‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.60%

4.95%,

06/01/2042

(g),(j)

1,050‌

702‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.75%

5.71%,

01/15/2026

(g)

1,560‌

1,506‌

Pacific

Western

Bank

3.25%,

05/01/2031

(j)

1,295‌

1,088‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

2.52%

Texas

Capital

Bancshares

Inc

4.00%,

05/06/2031

(j)

321‌

257‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.15%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

UniCredit

SpA

5.46%,

06/30/2035

(g),(j)

$

1,645‌

$

1,436‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.75%

5.86%,

06/19/2032

(g),(j)

1,000‌

919‌

USD

Swap

Rate

NY

5

Year

+

3.70%

7.30%,

04/02/2034

(g),(j)

1,725‌

1,674‌

USD

Swap

Rate

NY

5

Year

+

4.91%

Western

Alliance

Bancorp

3.00%,

06/15/2031

(f),(j)

648‌

533‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

2.25%

Western

Alliance

Bank

5.25%,

06/01/2030

(j)

255‌

229‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

5.12%

$

11,431‌

Beverages

-

0.04%

Primo

Water

Holdings

Inc

4.38%,

04/30/2029

(g)

769‌

675‌

Triton

Water

Holdings

Inc

6.25%,

04/01/2029

(g)

905‌

765‌

$

1,440‌

Biotechnology

-

0.02%

Emergent

BioSolutions

Inc

3.88%,

08/15/2028

(g)

900‌

499‌

Building

Materials

-

1.41%

Boise

Cascade

Co

4.88%,

07/01/2030

(g)

325‌

297‌

Builders

FirstSource

Inc

4.25%,

02/01/2032

(g)

1,084‌

941‌

5.00%,

03/01/2030

(g)

454‌

424‌

6.38%,

06/15/2032

(g)

1,000‌

995‌

Camelot

Return

Merger

Sub

Inc

8.75%,

08/01/2028

(g)

1,015‌

990‌

Cornerstone

Building

Brands

Inc

6.13%,

01/15/2029

(g)

422‌

349‌

CP

Atlas

Buyer

Inc

7.00%,

12/01/2028

(g)

770‌

635‌

Eco

Material

Technologies

Inc

7.88%,

01/31/2027

(g)

11,495‌

10,978‌

Emerald

Debt

Merger

Sub

LLC

6.63%,

12/15/2030

(g)

2,400‌

2,385‌

Griffon

Corp

5.75%,

03/01/2028

670‌

631‌

James

Hardie

International

Finance

DAC

5.00%,

01/15/2028

(g)

555‌

527‌

JELD-WEN

Inc

4.63%,

12/15/2025

(f),(g)

273‌

267‌

4.88%,

12/15/2027

(g)

569‌

511‌

Knife

River

Corp

7.75%,

05/01/2031

(g)

661‌

674‌

Louisiana-Pacific

Corp

3.63%,

03/15/2029

(g)

730‌

639‌

Masonite

International

Corp

3.50%,

02/15/2030

(g)

575‌

484‌

5.38%,

02/01/2028

(g)

932‌

888‌

MIWD

Holdco

II

LLC

/

MIWD

Finance

Corp

5.50%,

02/01/2030

(g)

600‌

507‌

New

Enterprise

Stone

&

Lime

Co

Inc

5.25%,

07/15/2028

(g)

869‌

808‌

9.75%,

07/15/2028

(g)

331‌

326‌

Oscar

AcquisitionCo

LLC

/

Oscar

Finance

Inc

9.50%,

04/15/2030

(g)

8,853‌

8,432‌

PGT

Innovations

Inc

4.38%,

10/01/2029

(g)

615‌

570‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

76

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Building

Materials

(continued)

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(g)

$

5,673‌

$

5,407‌

Standard

Industries

Inc/NJ

3.38%,

01/15/2031

(g)

1,315‌

1,062‌

4.38%,

07/15/2030

(g)

2,358‌

2,047‌

4.75%,

01/15/2028

(g)

1,385‌

1,290‌

5.00%,

02/15/2027

(g)

1,090‌

1,044‌

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp

5.25%,

01/15/2029

(g)

980‌

925‌

6.50%,

03/15/2027

(g)

135‌

134‌

Victors

Merger

Corp

6.38%,

05/15/2029

(g)

679‌

480‌

$

45,647‌

Chemicals

-

1.18%

Ashland

Inc

3.38%,

09/01/2031

(g)

528‌

428‌

6.88%,

05/15/2043

393‌

390‌

ASP

Unifrax

Holdings

Inc

5.25%,

09/30/2028

(g)

3,036‌

2,262‌

Avient

Corp

5.75%,

05/15/2025

(g)

475‌

468‌

7.13%,

08/01/2030

(g)

1,521‌

1,533‌

Axalta

Coating

Systems

LLC

3.38%,

02/15/2029

(g)

960‌

822‌

Axalta

Coating

Systems

LLC

/

Axalta

Coating

Systems

Dutch

Holding

B

BV

4.75%,

06/15/2027

(g)

585‌

558‌

Cerdia

Finanz

GmbH

10.50%,

02/15/2027

(g)

815‌

803‌

Chemours

Co/The

4.63%,

11/15/2029

(g)

1,028‌

868‌

5.38%,

05/15/2027

615‌

585‌

5.75%,

11/15/2028

(g)

1,283‌

1,177‌

Consolidated

Energy

Finance

SA

5.63%,

10/15/2028

(g)

595‌

514‌

Cornerstone

Chemical

Co

8.25%,

PIK

0.00%;

09/01/2027

(f),(g),(h),(i)

1,130‌

989‌

CVR

Partners

LP

/

CVR

Nitrogen

Finance

Corp

6.13%,

06/15/2028

(g)

795‌

718‌

Element

Solutions

Inc

3.88%,

09/01/2028

(g)

1,059‌

936‌

GPD

Cos

Inc

10.13%,

04/01/2026

(g)

845‌

785‌

HB

Fuller

Co

4.00%,

02/15/2027

305‌

287‌

4.25%,

10/15/2028

385‌

343‌

Herens

Holdco

Sarl

4.75%,

05/15/2028

(g)

373‌

284‌

Illuminate

Buyer

LLC

/

Illuminate

Holdings

IV

Inc

9.00%,

07/01/2028

(g)

960‌

877‌

INEOS

Finance

PLC

6.75%,

05/15/2028

(f),(g)

495‌

472‌

INEOS

Quattro

Finance

2

Plc

3.38%,

01/15/2026

(g)

839‌

763‌

Ingevity

Corp

3.88%,

11/01/2028

(g)

652‌

563‌

Innophos

Holdings

Inc

9.38%,

02/15/2028

(g)

211‌

210‌

Iris

Holdings

Inc

8.75%,

PIK

9.50%;

02/15/2026

(g),(h),(i)

325‌

306‌

Kobe

US

Midco

2

Inc

9.25%,

PIK

10.00%;

11/01/2026

(g),(h),(i)

215‌

151‌

LSF11

A5

HoldCo

LLC

6.63%,

10/15/2029

(g)

35‌

29‌

Mativ

Holdings

Inc

6.88%,

10/01/2026

(g)

565‌

492‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Chemicals

(continued)

Methanex

Corp

4.25%,

12/01/2024

$

275‌

$

268‌

5.13%,

10/15/2027

820‌

774‌

5.25%,

12/15/2029

812‌

743‌

5.65%,

12/01/2044

385‌

321‌

Minerals

Technologies

Inc

5.00%,

07/01/2028

(g)

497‌

459‌

Nufarm

Australia

Ltd

/

Nufarm

Americas

Inc

5.00%,

01/27/2030

(g)

325‌

289‌

Olin

Corp

5.00%,

02/01/2030

903‌

829‌

5.13%,

09/15/2027

707‌

676‌

5.63%,

08/01/2029

(f)

905‌

876‌

Olympus

Water

US

Holding

Corp

4.25%,

10/01/2028

(g)

870‌

697‌

6.25%,

10/01/2029

(g)

470‌

346‌

7.13%,

10/01/2027

(g)

285‌

260‌

9.75%,

11/15/2028

(g)

2,103‌

2,035‌

Polar

US

Borrower

LLC

/

Schenectady

International

Group

Inc

6.75%,

05/15/2026

(g)

325‌

189‌

Rain

CII

Carbon

LLC

/

CII

Carbon

Corp

7.25%,

04/01/2025

(g)

737‌

733‌

Rayonier

AM

Products

Inc

5.50%,

06/01/2024

(f),(g)

605‌

604‌

7.63%,

01/15/2026

(g)

451‌

402‌

SCIH

Salt

Holdings

Inc

4.88%,

05/01/2028

(g)

1,178‌

1,054‌

6.63%,

05/01/2029

(g)

760‌

660‌

SCIL

IV

LLC

/

SCIL

USA

Holdings

LLC

5.38%,

11/01/2026

(g)

870‌

800‌

SPCM

SA

3.13%,

03/15/2027

(g)

210‌

188‌

3.38%,

03/15/2030

(g)

500‌

414‌

TPC

Group

Inc

13.00%,

12/16/2027

(g)

505‌

505‌

Trinseo

Materials

Operating

SCA

/

Trinseo

Materials

Finance

Inc

5.13%,

04/01/2029

(g)

411‌

242‌

5.38%,

09/01/2025

(g)

743‌

675‌

Tronox

Inc

4.63%,

03/15/2029

(g)

1,255‌

1,040‌

Valvoline

Inc

3.63%,

06/15/2031

(g)

805‌

663‌

4.25%,

02/15/2030

(g)

520‌

512‌

Venator

Finance

Sarl

/

Venator

Materials

LLC

5.75%,

07/15/2025

(g)

280‌

14‌

Vibrantz

Technologies

Inc

9.00%,

02/15/2030

(g)

831‌

678‌

WR

Grace

Holdings

LLC

4.88%,

06/15/2027

(g)

635‌

599‌

5.63%,

08/15/2029

(g)

1,139‌

961‌

$

38,119‌

Coal

-

0.29%

Alliance

Resource

Operating

Partners

LP

/

Alliance

Resource

Finance

Corp

7.50%,

05/01/2025

(g)

803‌

799‌

Conuma

Resources

Ltd

13.13%,

05/01/2028

(g)

80‌

76‌

Coronado

Finance

Pty

Ltd

10.75%,

05/15/2026

(f),(g)

268‌

278‌

SunCoke

Energy

Inc

4.88%,

06/30/2029

(g)

9,065‌

7,806‌

Warrior

Met

Coal

Inc

7.88%,

12/01/2028

(g)

540‌

545‌

$

9,504‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

77

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

-

3.62%

ADT

Security

Corp/The

4.13%,

08/01/2029

(g)

$

645‌

$

560‌

4.88%,

07/15/2032

(g)

540‌

464‌

Adtalem

Global

Education

Inc

5.50%,

03/01/2028

(g)

994‌

925‌

Albion

Financing

1

SARL

/

Aggreko

Holdings

Inc

6.13%,

10/15/2026

(g)

650‌

613‌

Albion

Financing

2SARL

8.75%,

04/15/2027

(g)

465‌

431‌

Allied

Universal

Holdco

LLC

/

Allied

Universal

Finance

Corp

6.00%,

06/01/2029

(g)

1,137‌

867‌

6.63%,

07/15/2026

(g)

1,935‌

1,848‌

9.75%,

07/15/2027

(g)

1,245‌

1,142‌

Allied

Universal

Holdco

LLC/Allied

Universal

Finance

Corp/Atlas

Luxco

4

Sarl

4.63%,

06/01/2028

(g)

1,265‌

1,075‌

4.63%,

06/01/2028

(g)

900‌

763‌

AMN

Healthcare

Inc

4.00%,

04/15/2029

(g)

410‌

364‌

4.63%,

10/01/2027

(g)

4,664‌

4,384‌

APi

Group

DE

Inc

4.13%,

07/15/2029

(g)

430‌

373‌

Aptim

Corp

7.75%,

06/15/2025

(g)

925‌

749‌

APX

Group

Inc

5.75%,

07/15/2029

(g)

742‌

644‌

6.75%,

02/15/2027

(g)

585‌

570‌

ASGN

Inc

4.63%,

05/15/2028

(g)

7,595‌

6,964‌

Avis

Budget

Car

Rental

LLC

/

Avis

Budget

Finance

Inc

5.38%,

03/01/2029

(g)

395‌

368‌

5.75%,

07/15/2027

(g)

410‌

386‌

5.75%,

07/15/2027

(g)

6‌

6‌

Block

Inc

2.75%,

06/01/2026

680‌

619‌

3.50%,

06/01/2031

(f)

770‌

645‌

Brink's

Co/The

4.63%,

10/15/2027

(g)

559‌

525‌

5.50%,

07/15/2025

(g)

345‌

342‌

Carriage

Services

Inc

4.25%,

05/15/2029

(g)

475‌

411‌

Cimpress

PLC

7.00%,

06/15/2026

666‌

629‌

CoreCivic

Inc

4.75%,

10/15/2027

1,000‌

881‌

8.25%,

04/15/2026

1,142‌

1,151‌

CoreLogic

Inc

4.50%,

05/01/2028

(g)

858‌

706‌

CPI

CG

Inc

8.63%,

03/15/2026

(g)

926‌

892‌

Deluxe

Corp

8.00%,

06/01/2029

(g)

795‌

668‌

Garda

World

Security

Corp

4.63%,

02/15/2027

(g)

640‌

591‌

6.00%,

06/01/2029

(g)

594‌

494‌

7.75%,

02/15/2028

(g)

302‌

300‌

9.50%,

11/01/2027

(g)

657‌

643‌

Gartner

Inc

3.63%,

06/15/2029

(g)

835‌

736‌

3.75%,

10/01/2030

(g)

1,140‌

994‌

4.50%,

07/01/2028

(g)

1,420‌

1,327‌

GEO

Group

Inc/The

9.50%,

12/31/2028

(g)

300‌

292‌

10.50%,

06/30/2028

350‌

351‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

Graham

Holdings

Co

5.75%,

06/01/2026

(g)

$

890‌

$

874‌

Grand

Canyon

University

4.13%,

10/01/2024

500‌

472‌

5.13%,

10/01/2028

525‌

484‌

Herc

Holdings

Inc

5.50%,

07/15/2027

(g)

1,253‌

1,204‌

Hertz

Corp/The

4.63%,

12/01/2026

(g)

445‌

402‌

5.00%,

12/01/2029

(g)

890‌

735‌

Korn

Ferry

4.63%,

12/15/2027

(g)

438‌

412‌

Legends

Hospitality

Holding

Co

LLC

/

Legends

Hospitality

Co-Issuer

Inc

5.00%,

02/01/2026

(g)

220‌

206‌

Matthews

International

Corp

5.25%,

12/01/2025

(g)

533‌

513‌

Metis

Merger

Sub

LLC

6.50%,

05/15/2029

(g)

880‌

748‌

MPH

Acquisition

Holdings

LLC

5.50%,

09/01/2028

(g)

1,250‌

1,090‌

5.75%,

11/01/2028

(g)

1,423‌

1,085‌

Neptune

Bidco

US

Inc

9.29%,

04/15/2029

(g)

3,800‌

3,495‌

NESCO

Holdings

II

Inc

5.50%,

04/15/2029

(g)

1,150‌

1,046‌

Paysafe

Finance

PLC

/

Paysafe

Holdings

US

Corp

4.00%,

06/15/2029

(f),(g)

430‌

350‌

PECF

USS

Intermediate

Holding

III

Corp

8.00%,

11/15/2029

(g)

635‌

351‌

Prime

Security

Services

Borrower

LLC

/

Prime

Finance

Inc

3.38%,

08/31/2027

(g)

944‌

833‌

5.25%,

04/15/2024

(g)

400‌

396‌

5.75%,

04/15/2026

(g)

1,100‌

1,078‌

6.25%,

01/15/2028

(g)

1,245‌

1,172‌

PROG

Holdings

Inc

6.00%,

11/15/2029

(g)

12,735‌

11,525‌

Sabre

GLBL

Inc

7.38%,

09/01/2025

(g)

1,215‌

1,097‌

11.25%,

12/15/2027

(f),(g)

730‌

646‌

Service

Corp

International/US

3.38%,

08/15/2030

1,035‌

863‌

4.00%,

05/15/2031

840‌

716‌

4.63%,

12/15/2027

500‌

474‌

5.13%,

06/01/2029

1,022‌

971‌

Shift4

Payments

LLC

/

Shift4

Payments

Finance

Sub

Inc

4.63%,

11/01/2026

(f),(g)

5,255‌

4,965‌

Signal

Parent

Inc

6.13%,

04/01/2029

(g)

455‌

277‌

Sotheby's

7.38%,

10/15/2027

(g)

17,315‌

15,339‌

Sotheby's/Bidfair

Holdings

Inc

5.88%,

06/01/2029

(g)

752‌

583‌

TriNet

Group

Inc

3.50%,

03/01/2029

(g)

926‌

808‌

United

Rentals

North

America

Inc

3.75%,

01/15/2032

676‌

573‌

3.88%,

11/15/2027

2,767‌

2,570‌

3.88%,

02/15/2031

1,505‌

1,297‌

4.00%,

07/15/2030

872‌

771‌

4.88%,

01/15/2028

2,064‌

1,969‌

5.25%,

01/15/2030

860‌

819‌

5.50%,

05/15/2027

843‌

829‌

Upbound

Group

Inc

6.38%,

02/15/2029

(g)

9,465‌

8,684‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

78

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

Verscend

Escrow

Corp

9.75%,

08/15/2026

(g)

$

900‌

$

903‌

WASH

Multifamily

Acquisition

Inc

5.75%,

04/15/2026

(g)

649‌

604‌

Williams

Scotsman

International

Inc

4.63%,

08/15/2028

(g)

675‌

621‌

6.13%,

06/15/2025

(g)

427‌

424‌

WW

International

Inc

4.50%,

04/15/2029

(f),(g)

1,255‌

891‌

ZipRecruiter

Inc

5.00%,

01/15/2030

(g)

5,065‌

4,318‌

$

117,176‌

Computers

-

0.78%

Ahead

DB

Holdings

LLC

6.63%,

05/01/2028

(g)

446‌

385‌

Conduent

Business

Services

LLC

/

Conduent

State

&

Local

Solutions

Inc

6.00%,

11/01/2029

(g)

750‌

630‌

Crane

NXT

Co

4.20%,

03/15/2048

993‌

685‌

Crowdstrike

Holdings

Inc

3.00%,

02/15/2029

814‌

703‌

Diebold

Nixdorf

Inc

9.38%,

07/15/2025

(g)

886‌

162‌

KBR

Inc

4.75%,

09/30/2028

(g)

4,557‌

4,170‌

McAfee

Corp

7.38%,

02/15/2030

(g)

2,200‌

1,901‌

NCR

Corp

5.00%,

10/01/2028

(g)

480‌

434‌

5.13%,

04/15/2029

(g)

1,175‌

1,051‌

5.25%,

10/01/2030

(g)

521‌

464‌

5.75%,

09/01/2027

(g)

588‌

592‌

6.13%,

09/01/2029

(g)

285‌

290‌

Presidio

Holdings

Inc

4.88%,

02/01/2027

(g)

440‌

416‌

8.25%,

02/01/2028

(g)

4,100‌

3,976‌

Science

Applications

International

Corp

4.88%,

04/01/2028

(g)

470‌

442‌

Seagate

HDD

Cayman

3.13%,

07/15/2029

585‌

446‌

4.09%,

06/01/2029

607‌

533‌

4.13%,

01/15/2031

1,095‌

902‌

4.75%,

01/01/2025

535‌

526‌

4.88%,

06/01/2027

717‌

691‌

5.75%,

12/01/2034

692‌

614‌

9.63%,

12/01/2032

(g)

1,217‌

1,347‌

Tempo

Acquisition

LLC

/

Tempo

Acquisition

Finance

Corp

5.75%,

06/01/2025

(g)

295‌

297‌

Unisys

Corp

6.88%,

11/01/2027

(g)

940‌

767‌

Vericast

Corp

11.00%,

09/15/2026

(g)

1,842‌

1,934‌

12.50%,

12/15/2027

(g)

400‌

452‌

Virtusa

Corp

7.13%,

12/15/2028

(g)

418‌

350‌

$

25,160‌

Consumer

Products

-

0.10%

ACCO

Brands

Corp

4.25%,

03/15/2029

(g)

565‌

482‌

Central

Garden

&

Pet

Co

4.13%,

04/30/2031

(g)

430‌

359‌

5.13%,

02/01/2028

367‌

346‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Consumer

Products

(continued)

Kronos

Acquisition

Holdings

Inc

/

KIK

Custom

Products

Inc

5.00%,

12/31/2026

(g)

$

530‌

$

493‌

7.00%,

12/31/2027

(g)

580‌

511‌

Spectrum

Brands

Inc

3.88%,

03/15/2031

(g)

404‌

333‌

5.00%,

10/01/2029

(g)

321‌

289‌

5.50%,

07/15/2030

(g)

353‌

322‌

$

3,135‌

Cosmetics

&

Personal

Care

-

0.13%

Avon

Products

Inc

8.45%,

03/15/2043

240‌

284‌

Coty

Inc

5.00%,

04/15/2026

(g)

948‌

915‌

6.50%,

04/15/2026

(f),(g)

580‌

575‌

Coty

Inc/HFC

Prestige

Products

Inc/HFC

Prestige

International

US

LLC

4.75%,

01/15/2029

(g)

630‌

584‌

Edgewell

Personal

Care

Co

4.13%,

04/01/2029

(g)

370‌

324‌

5.50%,

06/01/2028

(g)

1,190‌

1,128‌

High

Ridge

Brands

-

Escrow

0.00%,

03/15/2025

(d),(e),(k)

4,938‌

—‌

Oriflame

Investment

Holding

PLC

5.13%,

05/04/2026

(g)

795‌

279‌

$

4,089‌

Distribution

&

Wholesale

-

0.25%

American

Builders

&

Contractors

Supply

Co

Inc

3.88%,

11/15/2029

(g)

390‌

339‌

4.00%,

01/15/2028

(g)

999‌

915‌

BCPE

Empire

Holdings

Inc

7.63%,

05/01/2027

(g)

725‌

689‌

G-III

Apparel

Group

Ltd

7.88%,

08/15/2025

(g)

631‌

621‌

H&E

Equipment

Services

Inc

3.88%,

12/15/2028

(g)

950‌

835‌

OPENLANE

Inc

5.13%,

06/01/2025

(f),(g)

202‌

197‌

Resideo

Funding

Inc

4.00%,

09/01/2029

(g)

405‌

342‌

Ritchie

Bros

Holdings

Inc

6.75%,

03/15/2028

(g)

870‌

881‌

7.75%,

03/15/2031

(g)

2,190‌

2,283‌

Univar

Solutions

USA

Inc/Washington

5.13%,

12/01/2027

(g)

524‌

537‌

Wesco

Aircraft

Holdings

Inc

8.50%,

11/15/2024

(f),(g)

504‌

20‌

9.00%,

11/15/2026

(f),(g)

693‌

66‌

Windsor

Holdings

III

LLC

8.50%,

06/15/2030

(g)

382‌

384‌

$

8,109‌

Diversified

Financial

Services

-

6.00%

Advisor

Group

Holdings

Inc

10.75%,

08/01/2027

(g)

227‌

233‌

AG

Issuer

LLC

6.25%,

03/01/2028

(g)

499‌

481‌

AG

TTMT

Escrow

Issuer

LLC

8.63%,

09/30/2027

(g)

514‌

530‌

Ally

Financial

Inc

5.75%,

11/20/2025

(f)

2,300‌

2,230‌

Aretec

Escrow

Issuer

Inc

7.50%,

04/01/2029

(g)

875‌

788‌

Armor

Holdco

Inc

8.50%,

11/15/2029

(g)

415‌

351‌

ASG

Finance

Designated

Activity

Co

7.88%,

12/03/2024

(g)

60‌

58‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

79

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Diversified

Financial

Services

(continued)

Avation

Capital

SA

8.25%,

PIK

9.00%;

10/31/2026

(g),(h),(i)

$

310‌

$

270‌

Bread

Financial

Holdings

Inc

7.00%,

01/15/2026

(f),(g)

13,525‌

13,063‌

Brightsphere

Investment

Group

Inc

4.80%,

07/27/2026

585‌

561‌

Burford

Capital

Global

Finance

LLC

6.25%,

04/15/2028

(g)

455‌

421‌

6.88%,

04/15/2030

(g)

685‌

623‌

9.25%,

07/01/2031

(g)

8,103‌

8,184‌

Castlelake

Aviation

Finance

DAC

5.00%,

04/15/2027

(g)

365‌

337‌

Cobra

AcquisitionCo

LLC

6.38%,

11/01/2029

(g)

450‌

306‌

Coinbase

Global

Inc

3.38%,

10/01/2028

(g)

1,090‌

763‌

3.63%,

10/01/2031

(g)

901‌

569‌

Credit

Acceptance

Corp

5.13%,

12/31/2024

(g)

460‌

451‌

6.63%,

03/15/2026

(f)

5,630‌

5,525‌

Curo

Group

Holdings

Corp

7.50%,

08/01/2028

(g)

1,318‌

300‌

7.50%,

08/01/2028

(g)

795‌

306‌

Drawbridge

Special

Opportunities

Fund

LP

/

Drawbridge

Special

Opportunities

Fin

ance

Corp

3.88%,

02/15/2026

(g)

1,675‌

1,496‌

Enova

International

Inc

8.50%,

09/01/2024

(f),(g)

635‌

630‌

8.50%,

09/15/2025

(g)

385‌

379‌

Finance

of

America

Funding

LLC

7.88%,

11/15/2025

(g)

385‌

321‌

GGAM

Finance

Ltd

8.00%,

06/15/2028

(g)

8,350‌

8,464‌

Global

Aircraft

Leasing

Co

Ltd

6.50%,

PIK

7.25%;

09/15/2024

(g),(h),(i)

2,305‌

2,172‌

goeasy

Ltd

4.38%,

05/01/2026

(g)

1,135‌

1,036‌

5.38%,

12/01/2024

(g)

445‌

434‌

Hightower

Holding

LLC

6.75%,

04/15/2029

(g)

330‌

289‌

Home

Point

Capital

Inc

5.00%,

02/01/2026

(g)

9,592‌

8,951‌

Jane

Street

Group

/

JSG

Finance

Inc

4.50%,

11/15/2029

(g)

825‌

724‌

Jefferies

Finance

LLC

/

JFIN

Co-Issuer

Corp

5.00%,

08/15/2028

(g)

1,010‌

863‌

Jefferson

Capital

Holdings

LLC

6.00%,

08/15/2026

(g)

220‌

186‌

LD

Holdings

Group

LLC

6.13%,

04/01/2028

(g)

544‌

351‌

6.50%,

11/01/2025

(g)

545‌

451‌

LFS

Topco

LLC

5.88%,

10/15/2026

(g)

134‌

119‌

Midcap

Financial

Issuer

Trust

5.63%,

01/15/2030

(g)

406‌

325‌

6.50%,

05/01/2028

(g)

1,195‌

1,054‌

Nationstar

Mortgage

Holdings

Inc

5.13%,

12/15/2030

(g)

752‌

634‌

5.50%,

08/15/2028

(g)

5,040‌

4,565‌

5.75%,

11/15/2031

(g)

580‌

492‌

6.00%,

01/15/2027

(g)

710‌

678‌

Navient

Corp

4.88%,

03/15/2028

800‌

699‌

5.00%,

03/15/2027

575‌

520‌

5.50%,

03/15/2029

1,125‌

973‌

5.63%,

08/01/2033

572‌

438‌

5.88%,

10/25/2024

478‌

472‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Diversified

Financial

Services

(continued)

Navient

Corp  

(continued)

6.75%,

06/25/2025

$

400‌

$

395‌

6.75%,

06/15/2026

495‌

483‌

9.38%,

07/25/2030

525‌

528‌

NFP

Corp

4.88%,

08/15/2028

(g)

5,880‌

5,291‌

6.88%,

08/15/2028

(g)

42,305‌

37,446‌

7.50%,

10/01/2030

(g)

415‌

404‌

OneMain

Finance

Corp

3.50%,

01/15/2027

720‌

623‌

3.88%,

09/15/2028

665‌

546‌

4.00%,

09/15/2030

12,501‌

9,821‌

5.38%,

11/15/2029

835‌

723‌

6.63%,

01/15/2028

12,740‌

12,078‌

6.88%,

03/15/2025

1,300‌

1,296‌

7.13%,

03/15/2026

1,704‌

1,688‌

9.00%,

01/15/2029

817‌

830‌

Oxford

Finance

LLC

/

Oxford

Finance

Co-Issuer

II

Inc

6.38%,

02/01/2027

(g)

11,645‌

10,874‌

PennyMac

Financial

Services

Inc

4.25%,

02/15/2029

(g)

789‌

651‌

5.38%,

10/15/2025

(g)

823‌

786‌

5.75%,

09/15/2031

(g)

980‌

829‌

PHH

Mortgage

Corp

7.88%,

03/15/2026

(g)

755‌

680‌

PRA

Group

Inc

5.00%,

10/01/2029

(g)

400‌

304‌

7.38%,

09/01/2025

(g)

343‌

330‌

8.38%,

02/01/2028

(g)

645‌

589‌

Provident

Funding

Associates

LP

/

PFG

Finance

Corp

6.38%,

06/15/2025

(g)

9,568‌

8,473‌

Rocket

Mortgage

LLC

/

Rocket

Mortgage

Co-Issuer

Inc

2.88%,

10/15/2026

(g)

1,577‌

1,404‌

3.63%,

03/01/2029

(g)

736‌

627‌

3.88%,

03/01/2031

(g)

9,569‌

7,871‌

4.00%,

10/15/2033

(g)

3,525‌

2,796‌

SLM

Corp

4.20%,

10/29/2025

830‌

779‌

StoneX

Group

Inc

8.63%,

06/15/2025

(g)

400‌

403‌

Synchrony

Financial

7.25%,

02/02/2033

280‌

263‌

United

Wholesale

Mortgage

LLC

5.50%,

11/15/2025

(g)

5,555‌

5,340‌

5.50%,

04/15/2029

(g)

4,125‌

3,626‌

5.75%,

06/15/2027

(g)

766‌

717‌

World

Acceptance

Corp

7.00%,

11/01/2026

(g)

500‌

439‌

$

193,999‌

Electric

-

1.03%

Algonquin

Power

&

Utilities

Corp

4.75%,

01/18/2082

(j)

810‌

654‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.25%

Atlantica

Sustainable

Infrastructure

PLC

4.13%,

06/15/2028

(g)

620‌

561‌

Calpine

Corp

3.75%,

03/01/2031

(g)

1,260‌

1,033‌

4.50%,

02/15/2028

(g)

1,565‌

1,437‌

4.63%,

02/01/2029

(g)

886‌

763‌

5.00%,

02/01/2031

(g)

927‌

780‌

5.13%,

03/15/2028

(g)

2,035‌

1,845‌

5.25%,

06/01/2026

(g)

568‌

551‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

80

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Clearway

Energy

Operating

LLC

3.75%,

02/15/2031

(g)

$

1,259‌

$

1,043‌

3.75%,

01/15/2032

(g)

375‌

306‌

4.75%,

03/15/2028

(g)

1,100‌

1,020‌

DPL

Inc

4.13%,

07/01/2025

465‌

446‌

4.35%,

04/15/2029

656‌

577‌

Drax

Finco

PLC

6.63%,

11/01/2025

(g)

1,080‌

1,062‌

FirstEnergy

Corp

2.05%,

03/01/2025

620‌

583‌

2.25%,

09/01/2030

1,000‌

805‌

2.65%,

03/01/2030

1,094‌

922‌

3.40%,

03/01/2050

1,225‌

837‌

4.15%,

07/15/2027

1,912‌

1,811‌

5.10%,

07/15/2047

560‌

508‌

Leeward

Renewable

Energy

Operations

LLC

4.25%,

07/01/2029

(g)

425‌

376‌

Midland

Cogeneration

Venture

LP

6.00%,

03/15/2025

(g)

139‌

138‌

NextEra

Energy

Operating

Partners

LP

3.88%,

10/15/2026

(g)

736‌

684‌

4.50%,

09/15/2027

(g)

633‌

593‌

NRG

Energy

Inc

3.38%,

02/15/2029

(g)

570‌

471‌

3.63%,

02/15/2031

(g)

1,331‌

1,045‌

3.88%,

02/15/2032

(g)

1,619‌

1,253‌

5.25%,

06/15/2029

(g)

875‌

790‌

5.75%,

01/15/2028

915‌

871‌

6.63%,

01/15/2027

395‌

392‌

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations

Inc

4.50%,

08/15/2028

(g)

965‌

877‌

PG&E

Corp

5.00%,

07/01/2028

(f)

1,012‌

936‌

5.25%,

07/01/2030

1,095‌

983‌

Pike

Corp

5.50%,

09/01/2028

(g)

853‌

768‌

Talen

Energy

Supply

LLC

8.63%,

06/01/2030

(g)

95‌

99‌

TransAlta

Corp

6.50%,

03/15/2040

725‌

693‌

7.75%,

11/15/2029

466‌

483‌

Vistra

Operations

Co

LLC

4.38%,

05/01/2029

(g)

1,629‌

1,438‌

5.00%,

07/31/2027

(g)

1,525‌

1,437‌

5.63%,

02/15/2027

(g)

1,525‌

1,475‌

$

33,346‌

Electrical

Components

&

Equipment

-

0.17%

Energizer

Holdings

Inc

4.38%,

03/31/2029

(g)

875‌

759‌

4.75%,

06/15/2028

(g)

845‌

759‌

6.50%,

12/31/2027

(g)

350‌

340‌

EnerSys

4.38%,

12/15/2027

(g)

490‌

454‌

WESCO

Distribution

Inc

7.13%,

06/15/2025

(g)

1,716‌

1,736‌

7.25%,

06/15/2028

(g)

1,425‌

1,453‌

$

5,501‌

Electronics

-

0.28%

Atkore

Inc

4.25%,

06/01/2031

(g)

1,000‌

865‌

Coherent

Corp

5.00%,

12/15/2029

(g)

620‌

558‌

Imola

Merger

Corp

4.75%,

05/15/2029

(g)

2,875‌

2,524‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electronics

(continued)

Likewize

Corp

9.75%,

10/15/2025

(g)

$

579‌

$

559‌

Sensata

Technologies

BV

4.00%,

04/15/2029

(g)

1,150‌

1,016‌

5.00%,

10/01/2025

(g)

956‌

932‌

5.63%,

11/01/2024

(g)

440‌

437‌

5.88%,

09/01/2030

(g)

507‌

489‌

Sensata

Technologies

Inc

3.75%,

02/15/2031

(g)

705‌

595‌

4.38%,

02/15/2030

(g)

529‌

470‌

TTM

Technologies

Inc

4.00%,

03/01/2029

(g)

701‌

598‌

$

9,043‌

Energy

-

Alternate

Sources

-

0.25%

Enviva

Partners

LP

/

Enviva

Partners

Finance

Corp

6.50%,

01/15/2026

(g)

7,353‌

6,203‌

Sunnova

Energy

Corp

5.88%,

09/01/2026

(f),(g)

90‌

81‌

TerraForm

Power

Operating

LLC

4.75%,

01/15/2030

(g)

950‌

838‌

5.00%,

01/31/2028

(g)

1,120‌

1,039‌

$

8,161‌

Engineering

&

Construction

-

0.38%

AECOM

5.13%,

03/15/2027

1,345‌

1,298‌

Arcosa

Inc

4.38%,

04/15/2029

(g)

912‌

821‌

Artera

Services

LLC

9.03%,

12/04/2025

(g)

969‌

911‌

Brand

Industrial

Services

Inc

10.38%,

08/01/2030

(g),(l)

1,019‌

1,039‌

Brundage-Bone

Concrete

Pumping

Holdings

Inc

6.00%,

02/01/2026

(g)

405‌

389‌

Cellnex

Finance

Co

SA

3.88%,

07/07/2041

(g)

620‌

449‌

Dycom

Industries

Inc

4.50%,

04/15/2029

(g)

500‌

452‌

Fluor

Corp

3.50%,

12/15/2024

244‌

237‌

4.25%,

09/15/2028

505‌

472‌

Global

Infrastructure

Solutions

Inc

5.63%,

06/01/2029

(g)

600‌

505‌

7.50%,

04/15/2032

(g)

500‌

423‌

Great

Lakes

Dredge

&

Dock

Corp

5.25%,

06/01/2029

(f),(g)

900‌

752‌

IEA

Energy

Services

LLC

6.63%,

08/15/2029

(g)

2,525‌

2,441‌

INNOVATE

Corp

8.50%,

02/01/2026

(g)

315‌

241‌

Railworks

Holdings

LP

/

Railworks

Rally

Inc

8.25%,

11/15/2028

(g)

290‌

273‌

TopBuild

Corp

3.63%,

03/15/2029

(g)

295‌

259‌

4.13%,

02/15/2032

(g)

460‌

395‌

Tutor

Perini

Corp

6.88%,

05/01/2025

(g)

431‌

369‌

Weekley

Homes

LLC

/

Weekley

Finance

Corp

4.88%,

09/15/2028

(g)

450‌

404‌

$

12,130‌

Entertainment

-

3.61%

Affinity

Interactive

6.88%,

12/15/2027

(g)

470‌

416‌

Allen

Media

LLC

/

Allen

Media

Co-Issuer

Inc

10.50%,

02/15/2028

(g)

750‌

426‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

81

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Entertainment

(continued)

AMC

Entertainment

Holdings

Inc

7.50%,

02/15/2029

(g)

$

993‌

$

680‌

10.00%,

PIK

12.00%;

06/15/2026

(g),(i)

1,740‌

1,192‌

Banijay

Entertainment

SASU

5.38%,

03/01/2025

(g)

390‌

381‌

Caesars

Entertainment

Inc

4.63%,

10/15/2029

(f),(g)

10,580‌

9,314‌

6.25%,

07/01/2025

(g)

2,212‌

2,200‌

7.00%,

02/15/2030

(g)

9,163‌

9,255‌

8.13%,

07/01/2027

(g)

7,010‌

7,190‌

Caesars

Resort

Collection

LLC

/

CRC

Finco

Inc

5.75%,

07/01/2025

(g)

815‌

823‌

CCM

Merger

Inc

6.38%,

05/01/2026

(g)

409‌

398‌

CDI

Escrow

Issuer

Inc

5.75%,

04/01/2030

(g)

1,931‌

1,793‌

Cedar

Fair

LP

5.25%,

07/15/2029

266‌

239‌

Cedar

Fair

LP

/

Canada's

Wonderland

Company

/

Magnum

Management

Corporation

/

Millennium

Operations

LLC

5.38%,

04/15/2027

396‌

374‌

5.50%,

05/01/2025

(g)

920‌

911‌

6.50%,

10/01/2028

275‌

267‌

Churchill

Downs

Inc

4.75%,

01/15/2028

(g)

1,035‌

957‌

5.50%,

04/01/2027

(g)

960‌

929‌

6.75%,

05/01/2031

(g)

790‌

772‌

Cinemark

USA

Inc

5.25%,

07/15/2028

(f),(g)

19,529‌

17,082‌

5.88%,

03/15/2026

(f),(g)

3,411‌

3,229‌

8.75%,

05/01/2025

(g)

730‌

737‌

Empire

Resorts

Inc

7.75%,

11/01/2026

(g)

780‌

626‌

Everi

Holdings

Inc

5.00%,

07/15/2029

(g)

9,040‌

7,955‌

Golden

Entertainment

Inc

7.63%,

04/15/2026

(g)

370‌

370‌

International

Game

Technology

PLC

4.13%,

04/15/2026

(g)

715‌

678‌

5.25%,

01/15/2029

(g)

810‌

770‌

6.25%,

01/15/2027

(g)

770‌

767‌

6.50%,

02/15/2025

(g)

289‌

289‌

Jacobs

Entertainment

Inc

6.75%,

02/15/2029

(g)

770‌

701‌

Lions

Gate

Capital

Holdings

LLC

5.50%,

04/15/2029

(g)

1,475‌

1,009‌

Live

Nation

Entertainment

Inc

3.75%,

01/15/2028

(g)

490‌

439‌

4.75%,

10/15/2027

(g)

12,837‌

11,922‌

4.88%,

11/01/2024

(g)

560‌

552‌

5.63%,

03/15/2026

(g)

300‌

293‌

6.50%,

05/15/2027

(g)

6,937‌

6,973‌

Merlin

Entertainments

Ltd

5.75%,

06/15/2026

(g)

765‌

744‌

Midwest

Gaming

Borrower

LLC

/

Midwest

Gaming

Finance

Corp

4.88%,

05/01/2029

(g)

590‌

524‌

Mohegan

Tribal

Gaming

Authority

8.00%,

02/01/2026

(g)

1,620‌

1,499‌

Motion

Bondco

DAC

6.63%,

11/15/2027

(g)

468‌

433‌

Ontario

Gaming

GTA

LP

8.00%,

08/01/2030

(g),(l)

33‌

33‌

Penn

Entertainment

Inc

4.13%,

07/01/2029

(f),(g)

275‌

227‌

5.63%,

01/15/2027

(g)

325‌

306‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Entertainment

(continued)

Premier

Entertainment

Sub

LLC

/

Premier

Entertainment

Finance

Corp

5.63%,

09/01/2029

(g)

$

770‌

$

583‌

5.88%,

09/01/2031

(g)

680‌

502‌

Raptor

Acquisition

Corp

/

Raptor

Co-Issuer

LLC

4.88%,

11/01/2026

(g)

489‌

458‌

Resorts

World

Las

Vegas

LLC

/

RWLV

Capital

Inc

4.63%,

04/06/2031

(g)

900‌

702‌

Scientific

Games

Holdings

LP/Scientific

Games

US

FinCo

Inc

6.63%,

03/01/2030

(g)

720‌

638‌

Scientific

Games

International

Inc

7.00%,

05/15/2028

(g)

813‌

810‌

7.25%,

11/15/2029

(g)

540‌

539‌

8.63%,

07/01/2025

(g)

552‌

564‌

SeaWorld

Parks

&

Entertainment

Inc

5.25%,

08/15/2029

(g)

635‌

572‌

8.75%,

05/01/2025

(g)

283‌

287‌

Six

Flags

Entertainment

Corp

5.50%,

04/15/2027

(f),(g)

375‌

353‌

7.25%,

05/15/2031

(g)

885‌

845‌

Six

Flags

Theme

Parks

Inc

7.00%,

07/01/2025

(g)

200‌

200‌

Speedway

Motorsports

LLC

/

Speedway

Funding

II

Inc

4.88%,

11/01/2027

(g)

6,280‌

5,816‌

Universal

Entertainment

Corp

8.50%,

12/11/2024

(g),(h)

850‌

857‌

Vail

Resorts

Inc

6.25%,

05/15/2025

(g)

485‌

486‌

WMG

Acquisition

Corp

3.00%,

02/15/2031

(g)

600‌

491‌

3.75%,

12/01/2029

(g)

770‌

672‌

3.88%,

07/15/2030

(g)

460‌

402‌

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp

5.13%,

10/01/2029

(g)

3,935‌

3,560‌

7.13%,

02/15/2031

(g)

638‌

638‌

$

116,650‌

Environmental

Control

-

1.70%

Clean

Harbors

Inc

4.88%,

07/15/2027

(g)

440‌

422‌

5.13%,

07/15/2029

(g)

300‌

286‌

6.38%,

02/01/2031

(g)

1,270‌

1,276‌

Covanta

Holding

Corp

4.88%,

12/01/2029

(g)

12,793‌

11,297‌

5.00%,

09/01/2030

999‌

865‌

Enviri

Corp

5.75%,

07/31/2027

(g)

845‌

730‌

GFL

Environmental

Inc

3.50%,

09/01/2028

(g)

660‌

587‌

3.75%,

08/01/2025

(g)

1,587‌

1,517‌

4.00%,

08/01/2028

(g)

8,075‌

7,227‌

4.25%,

06/01/2025

(g)

535‌

519‌

4.38%,

08/15/2029

(g)

11,295‌

10,071‌

4.75%,

06/15/2029

(g)

8,443‌

7,702‌

5.13%,

12/15/2026

(g)

460‌

447‌

Madison

IAQ

LLC

4.13%,

06/30/2028

(g)

823‌

733‌

5.88%,

06/30/2029

(g)

12,050‌

10,107‌

Stericycle

Inc

3.88%,

01/15/2029

(g)

700‌

614‌

Waste

Pro

USA

Inc

5.50%,

02/15/2026

(g)

591‌

560‌

$

54,960‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

82

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Food

-

2.56%

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

3.25%,

03/15/2026

(g)

$

870‌

$

809‌

3.50%,

03/15/2029

(g)

4,646‌

4,044‌

4.63%,

01/15/2027

(g)

1,477‌

1,400‌

4.88%,

02/15/2030

(g)

3,335‌

3,060‌

5.88%,

02/15/2028

(g)

1,251‌

1,218‌

6.50%,

02/15/2028

(g)

895‌

891‌

7.50%,

03/15/2026

(g)

700‌

712‌

B&G

Foods

Inc

5.25%,

04/01/2025

7,345‌

6,998‌

5.25%,

09/15/2027

886‌

764‌

C&S

Group

Enterprises

LLC

5.00%,

12/15/2028

(g)

475‌

368‌

Chobani

LLC

/

Chobani

Finance

Corp

Inc

4.63%,

11/15/2028

(g)

550‌

500‌

7.50%,

04/15/2025

(g)

595‌

593‌

FAGE

International

SA

/

FAGE

USA

Dairy

Industry

Inc

5.63%,

08/15/2026

(g)

375‌

353‌

H-Food

Holdings

LLC

/

Hearthside

Finance

Co

Inc

8.50%,

06/01/2026

(g)

404‌

156‌

Ingles

Markets

Inc

4.00%,

06/15/2031

(g)

570‌

483‌

KeHE

Distributors

LLC

/

KeHE

Finance

Corp

8.63%,

10/15/2026

(g)

624‌

624‌

Lamb

Weston

Holdings

Inc

4.13%,

01/31/2030

(g)

1,277‌

1,127‌

4.38%,

01/31/2032

(g)

867‌

761‌

4.88%,

05/15/2028

(g)

833‌

791‌

Performance

Food

Group

Inc

4.25%,

08/01/2029

(g)

8,275‌

7,351‌

5.50%,

10/15/2027

(g)

14,944‌

14,470‌

6.88%,

05/01/2025

(g)

315‌

315‌

Post

Holdings

Inc

4.50%,

09/15/2031

(g)

12,062‌

10,270‌

4.63%,

04/15/2030

(g)

7,885‌

6,949‌

5.50%,

12/15/2029

(g)

2,015‌

1,871‌

5.63%,

01/15/2028

(g)

1,519‌

1,468‌

5.75%,

03/01/2027

(f),(g)

496‌

486‌

Safeway

Inc

7.25%,

02/01/2031

200‌

208‌

SEG

Holding

LLC

/

SEG

Finance

Corp

5.63%,

10/15/2028

(g)

423‌

400‌

Sigma

Holdco

BV

7.88%,

05/15/2026

(g)

1,075‌

939‌

Simmons

Foods

Inc/Simmons

Prepared

Foods

Inc/

Simmons

Pet

Food

Inc/Simmons

Feed

4.63%,

03/01/2029

(g)

860‌

718‌

TreeHouse

Foods

Inc

4.00%,

09/01/2028

720‌

629‌

United

Natural

Foods

Inc

6.75%,

10/15/2028

(g)

568‌

473‌

US

Foods

Inc

4.63%,

06/01/2030

(g)

7,700‌

6,926‌

4.75%,

02/15/2029

(g)

2,655‌

2,442‌

6.25%,

04/15/2025

(g)

1,110‌

1,113‌

$

82,680‌

Food

Service

-

0.48%

Aramark

Services

Inc

5.00%,

04/01/2025

(g)

705‌

695‌

5.00%,

02/01/2028

(g)

13,160‌

12,370‌

6.38%,

05/01/2025

(g)

1,783‌

1,783‌

TKC

Holdings

Inc

10.50%,

05/15/2029

(g)

760‌

578‌

$

15,426‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Forest

Products

&

Paper

-

0.09%

Ahlstrom

Holding

3

Oy

4.88%,

02/04/2028

(g)

$

275‌

$

228‌

Domtar

Corp

6.75%,

10/01/2028

(g)

950‌

830‌

Glatfelter

Corp

4.75%,

11/15/2029

(g)

705‌

487‌

Mercer

International

Inc

5.13%,

02/01/2029

1,399‌

1,146‌

5.50%,

01/15/2026

303‌

292‌

$

2,983‌

Gas

-

0.07%

AmeriGas

Partners

LP

/

AmeriGas

Finance

Corp

5.50%,

05/20/2025

1,118‌

1,085‌

5.75%,

05/20/2027

621‌

567‌

5.88%,

08/20/2026

763‌

720‌

$

2,372‌

Hand

&

Machine

Tools

-

0.01%

Werner

FinCo

LP

/

Werner

FinCo

Inc

8.75%,

07/15/2025

(g)

375‌

330‌

Healthcare

-

Products

-

0.77%

Avantor

Funding

Inc

3.88%,

11/01/2029

(g)

916‌

802‌

4.63%,

07/15/2028

(g)

1,815‌

1,684‌

Embecta

Corp

5.00%,

02/15/2030

(g)

830‌

685‌

6.75%,

02/15/2030

(g)

280‌

246‌

Garden

Spinco

Corp

8.63%,

07/20/2030

(g)

8,387‌

9,052‌

Hologic

Inc

3.25%,

02/15/2029

(g)

1,519‌

1,329‌

4.63%,

02/01/2028

(g)

619‌

588‌

Medline

Borrower

LP

3.88%,

04/01/2029

(g)

5,280‌

4,623‌

5.25%,

10/01/2029

(g)

4,602‌

4,083‌

Teleflex

Inc

4.25%,

06/01/2028

(g)

734‌

675‌

4.63%,

11/15/2027

565‌

533‌

Varex

Imaging

Corp

7.88%,

10/15/2027

(g)

449‌

449‌

$

24,749‌

Healthcare

-

Services

-

3.38%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(g)

9,294‌

8,597‌

5.50%,

07/01/2028

(g)

3,825‌

3,663‌

AHP

Health

Partners

Inc

5.75%,

07/15/2029

(g)

250‌

218‌

Air

Methods

Corp

8.00%,

05/15/2025

(g)

850‌

4‌

Akumin

Escrow

Inc

7.50%,

08/01/2028

(g)

520‌

386‌

Akumin

Inc

7.00%,

11/01/2025

(g)

500‌

430‌

Cano

Health

LLC

6.25%,

10/01/2028

(g)

6,955‌

4,312‌

Catalent

Pharma

Solutions

Inc

3.13%,

02/15/2029

(g)

365‌

305‌

3.50%,

04/01/2030

(f),(g)

2,642‌

2,212‌

5.00%,

07/15/2027

(g)

330‌

309‌

Charles

River

Laboratories

International

Inc

3.75%,

03/15/2029

(g)

935‌

825‌

4.00%,

03/15/2031

(g)

445‌

388‌

4.25%,

05/01/2028

(g)

550‌

508‌

CHS/Community

Health

Systems

Inc

4.75%,

02/15/2031

(g)

740‌

561‌

5.25%,

05/15/2030

(g)

1,395‌

1,115‌

5.63%,

03/15/2027

(g)

2,055‌

1,828‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

83

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Services

(continued)

CHS/Community

Health

Systems

Inc  

(continued)

6.00%,

01/15/2029

(g)

$

1,025‌

$

876‌

6.13%,

04/01/2030

(g)

1,291‌

814‌

6.88%,

04/01/2028

(g)

775‌

476‌

6.88%,

04/15/2029

(g)

1,620‌

1,074‌

8.00%,

03/15/2026

(g)

2,584‌

2,537‌

8.00%,

12/15/2027

(g)

725‌

709‌

DaVita

Inc

3.75%,

02/15/2031

(g)

2,247‌

1,797‌

4.63%,

06/01/2030

(g)

4,065‌

3,469‌

Encompass

Health

Corp

4.50%,

02/01/2028

1,100‌

1,022‌

4.63%,

04/01/2031

625‌

555‌

4.75%,

02/01/2030

1,246‌

1,133‌

Envision

Healthcare

Corp

0.00%,

10/15/2026

(d),(g)

754‌

20‌

Global

Medical

Response

Inc

6.50%,

10/01/2025

(g)

1,100‌

653‌

HealthEquity

Inc

4.50%,

10/01/2029

(g)

460‌

412‌

Heartland

Dental

LLC

/

Heartland

Dental

Finance

Corp

8.50%,

05/01/2026

(g)

215‌

193‌

IQVIA

Inc

5.00%,

10/15/2026

(g)

1,632‌

1,585‌

5.00%,

05/15/2027

(g)

1,500‌

1,446‌

Legacy

LifePoint

Health

LLC

4.38%,

02/15/2027

(g)

700‌

604‌

6.75%,

04/15/2025

(g)

865‌

878‌

LifePoint

Health

Inc

5.38%,

01/15/2029

(g)

590‌

418‌

9.88%,

08/15/2030

(g),(l)

2,424‌

2,423‌

ModivCare

Escrow

Issuer

Inc

5.00%,

10/01/2029

(g)

586‌

419‌

ModivCare

Inc

5.88%,

11/15/2025

(g)

1,460‌

1,354‌

Molina

Healthcare

Inc

3.88%,

11/15/2030

(g)

1,178‌

1,008‌

3.88%,

05/15/2032

(g)

1,000‌

834‌

4.38%,

06/15/2028

(g)

865‌

793‌

Prime

Healthcare

Services

Inc

7.25%,

11/01/2025

(g)

1,205‌

1,145‌

Radiology

Partners

Inc

9.25%,

02/01/2028

(g)

1,006‌

387‌

RegionalCare

Hospital

Partners

Holdings

Inc

/

LifePoint

Health

Inc

9.75%,

12/01/2026

(g)

1,620‌

1,519‌

RP

Escrow

Issuer

LLC

5.25%,

12/15/2025

(g)

1,250‌

852‌

Select

Medical

Corp

6.25%,

08/15/2026

(g)

1,175‌

1,165‌

Surgery

Center

Holdings

Inc

6.75%,

07/01/2025

(g)

2,088‌

2,080‌

10.00%,

04/15/2027

(g)

5,383‌

5,509‌

Syneos

Health

Inc

3.63%,

01/15/2029

(g)

622‌

616‌

Team

Health

Holdings

Inc

6.38%,

02/01/2025

(g)

959‌

489‌

Tenet

Healthcare

Corp

4.25%,

06/01/2029

1,095‌

981‌

4.38%,

01/15/2030

1,205‌

1,075‌

4.63%,

06/15/2028

2,770‌

2,564‌

4.88%,

01/01/2026

1,775‌

1,718‌

5.13%,

11/01/2027

1,527‌

1,450‌

6.13%,

10/01/2028

(f)

23,610‌

22,491‌

6.13%,

06/15/2030

2,429‌

2,360‌

6.25%,

02/01/2027

1,684‌

1,653‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Services

(continued)

Tenet

Healthcare

Corp  

(continued)

6.75%,

05/15/2031

(g)

$

4,830‌

$

4,798‌

6.88%,

11/15/2031

145‌

145‌

Toledo

Hospital/The

5.33%,

11/15/2028

1,180‌

959‌

6.02%,

11/15/2048

1,505‌

1,033‌

US

Acute

Care

Solutions

LLC

6.38%,

03/01/2026

(g)

846‌

739‌

US

Renal

Care

Inc

10.63%,

07/15/2027

(g)

839‌

302‌

$

109,193‌

Holding

Companies

-

Diversified

-

0.05%

Benteler

International

AG

10.50%,

05/15/2028

(f),(g)

880‌

893‌

Stena

International

SA

6.13%,

02/01/2025

(g)

805‌

788‌

$

1,681‌

Home

Builders

-

0.51%

Ashton

Woods

USA

LLC

/

Ashton

Woods

Finance

Co

4.63%,

08/01/2029

(g)

385‌

333‌

4.63%,

04/01/2030

(g)

255‌

218‌

6.63%,

01/15/2028

(g)

255‌

245‌

Beazer

Homes

USA

Inc

5.88%,

10/15/2027

555‌

536‌

6.75%,

03/15/2025

151‌

150‌

7.25%,

10/15/2029

308‌

303‌

Brookfield

Residential

Properties

Inc

/

Brookfield

Residential

US

LLC

4.88%,

02/15/2030

(g)

575‌

467‌

5.00%,

06/15/2029

(g)

278‌

231‌

6.25%,

09/15/2027

(g)

694‌

642‌

Century

Communities

Inc

3.88%,

08/15/2029

(g)

570‌

496‌

6.75%,

06/01/2027

879‌

882‌

Empire

Communities

Corp

7.00%,

12/15/2025

(f),(g)

485‌

466‌

Forestar

Group

Inc

3.85%,

05/15/2026

(g)

605‌

562‌

5.00%,

03/01/2028

(g)

25‌

23‌

Installed

Building

Products

Inc

5.75%,

02/01/2028

(g)

470‌

445‌

KB

Home

4.00%,

06/15/2031

475‌

414‌

4.80%,

11/15/2029

324‌

299‌

6.88%,

06/15/2027

310‌

315‌

7.25%,

07/15/2030

510‌

520‌

LGI

Homes

Inc

4.00%,

07/15/2029

(f),(g)

931‌

782‌

M/I

Homes

Inc

3.95%,

02/15/2030

435‌

376‌

4.95%,

02/01/2028

561‌

529‌

Mattamy

Group

Corp

4.63%,

03/01/2030

(g)

688‌

603‌

5.25%,

12/15/2027

(g)

650‌

615‌

Meritage

Homes

Corp

3.88%,

04/15/2029

(g)

677‌

605‌

5.13%,

06/06/2027

350‌

339‌

6.00%,

06/01/2025

408‌

407‌

Shea

Homes

LP

/

Shea

Homes

Funding

Corp

4.75%,

02/15/2028

518‌

471‌

4.75%,

04/01/2029

350‌

311‌

STL

Holding

Co

LLC

7.50%,

02/15/2026

(g)

235‌

217‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

84

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Home

Builders

(continued)

Taylor

Morrison

Communities

Inc

5.13%,

08/01/2030

(g)

$

350‌

$

327‌

5.75%,

01/15/2028

(g)

490‌

478‌

5.88%,

06/15/2027

(g)

585‌

576‌

Thor

Industries

Inc

4.00%,

10/15/2029

(g)

730‌

627‌

Tri

Pointe

Homes

Inc

5.25%,

06/01/2027

795‌

768‌

5.70%,

06/15/2028

523‌

502‌

Winnebago

Industries

Inc

6.25%,

07/15/2028

(g)

249‌

242‌

$

16,322‌

Home

Furnishings

-

0.07%

Tempur

Sealy

International

Inc

3.88%,

10/15/2031

(g)

1,475‌

1,194‌

4.00%,

04/15/2029

(g)

1,081‌

937‌

$

2,131‌

Housewares

-

0

.34%

CD&R

Smokey

Buyer

Inc

6.75%,

07/15/2025

(g)

4,463‌

4,195‌

Newell

Brands

Inc

4.00%,

12/01/2024

200‌

193‌

4.70%,

04/01/2026

1,551‌

1,472‌

4.88%,

06/01/2025

565‌

547‌

5.87%,

04/01/2036

2,745‌

2,386‌

6.00%,

04/01/2046

314‌

255‌

6.38%,

09/15/2027

(f)

786‌

773‌

Scotts

Miracle-Gro

Co/The

4.00%,

04/01/2031

592‌

481‌

4.50%,

10/15/2029

(f)

204‌

179‌

5.25%,

12/15/2026

187‌

178‌

SWF

Escrow

Issuer

Corp

6.50%,

10/01/2029

(g)

740‌

457‌

$

11,116‌

Insurance

-

3.75%

Acrisure

LLC

/

Acrisure

Finance

Inc

4.25%,

02/15/2029

(g)

3,260‌

2,811‌

6.00%,

08/01/2029

(g)

540‌

463‌

7.00%,

11/15/2025

(g)

24,436‌

23,597‌

10.13%,

08/01/2026

(g)

497‌

509‌

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

4.25%,

10/15/2027

(g)

14,242‌

12,996‌

5.88%,

11/01/2029

(g)

485‌

429‌

6.75%,

10/15/2027

(g)

6,392‌

6,054‌

AmWINS

Group

Inc

4.88%,

06/30/2029

(g)

16,198‌

14,860‌

Assurant

Inc

7.00%,

03/27/2048

(j)

415‌

404‌

3

Month

USD

LIBOR

+

4.14%

AssuredPartners

Inc

5.63%,

01/15/2029

(g)

8,513‌

7,431‌

7.00%,

08/15/2025

(g)

15,004‌

14,816‌

BroadStreet

Partners

Inc

5.88%,

04/15/2029

(g)

790‌

705‌

Genworth

Holdings

Inc

6.50%,

06/15/2034

755‌

663‌

Global

Atlantic

Fin

Co

4.70%,

10/15/2051

(g),(j)

685‌

493‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.80%

GTCR

AP

Finance

Inc

8.00%,

05/15/2027

(g)

5,764‌

5,709‌

HUB

International

Ltd

5.63%,

12/01/2029

(g)

2,708‌

2,417‌

7.00%,

05/01/2026

(g)

15,253‌

15,222‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

(continued)

Jones

Deslauriers

Insurance

Management

Inc

8.50%,

03/15/2030

(g)

$

4,795‌

$

4,891‌

10.50%,

12/15/2030

(g)

265‌

262‌

Liberty

Mutual

Group

Inc

4.13%,

12/15/2051

(g),(j)

580‌

463‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.32%

4.30%,

02/01/2061

(g)

661‌

411‌

7.80%,

03/07/2087

(g)

505‌

523‌

3

Month

USD

LIBOR

+

3.58%

MGIC

Investment

Corp

5.25%,

08/15/2028

800‌

762‌

NMI

Holdings

Inc

7.38%,

06/01/2025

(g)

440‌

444‌

Ohio

National

Financial

Services

Inc

6.63%,

05/01/2031

(f),(g)

580‌

528‌

6.80%,

01/24/2030

(g)

503‌

468‌

Ryan

Specialty

LLC

4.38%,

02/01/2030

(g)

280‌

248‌

Sagicor

Financial

Co

Ltd

5.30%,

05/13/2028

(f),(g)

520‌

493‌

USI

Inc/NY

6.88%,

05/01/2025

(g)

1,016‌

1,012‌

Wilton

RE

Ltd

6.00%,

10/22/2030

(g),(j),(m)

1,195‌

1,073‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.27%

$

121,157‌

Internet

-

1.63%

Acuris

Finance

US

Inc

/

Acuris

Finance

SARL

5.00%,

05/01/2028

(g)

430‌

341‌

ANGI

Group

LLC

3.88%,

08/15/2028

(f),(g)

639‌

537‌

Arches

Buyer

Inc

4.25%,

06/01/2028

(g)

1,010‌

879‌

6.13%,

12/01/2028

(g)

6,296‌

5,423‌

Cablevision

Lightpath

LLC

3.88%,

09/15/2027

(g)

6,479‌

5,376‌

5.63%,

09/15/2028

(g)

6,941‌

5,280‌

Cars.com

Inc

6.38%,

11/01/2028

(g)

647‌

610‌

Cogent

Communications

Group

Inc

3.50%,

05/01/2026

(g)

729‌

676‌

7.00%,

06/15/2027

(g)

736‌

710‌

Gen

Digital

Inc

5.00%,

04/15/2025

(g)

1,505‌

1,484‌

6.75%,

09/30/2027

(g)

1,025‌

1,029‌

7.13%,

09/30/2030

(f),(g)

5,875‌

5,921‌

Getty

Images

Inc

9.75%,

03/01/2027

(g)

268‌

267‌

Go

Daddy

Operating

Co

LLC

/

GD

Finance

Co

Inc

3.50%,

03/01/2029

(g)

665‌

572‌

5.25%,

12/01/2027

(g)

995‌

950‌

GrubHub

Holdings

Inc

5.50%,

07/01/2027

(g)

1,286‌

917‌

ION

Trading

Technologies

Sarl

5.75%,

05/15/2028

(g)

520‌

452‌

Match

Group

Holdings

II

LLC

3.63%,

10/01/2031

(g)

415‌

342‌

4.13%,

08/01/2030

(g)

500‌

432‌

4.63%,

06/01/2028

(g)

505‌

466‌

5.00%,

12/15/2027

(g)

515‌

488‌

5.63%,

02/15/2029

(g)

369‌

351‌

Millennium

Escrow

Corp

6.63%,

08/01/2026

(g)

850‌

633‌

Newfold

Digital

Holdings

Group

Inc

6.00%,

02/15/2029

(g)

1,215‌

896‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

85

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Internet

(continued)

Northwest

Fiber

LLC

/

Northwest

Fiber

Finance

Sub

Inc

4.75%,

04/30/2027

(g)

$

315‌

$

274‌

6.00%,

02/15/2028

(g)

355‌

280‌

10.75%,

06/01/2028

(g)

240‌

220‌

Rakuten

Group

Inc

5.13%,

04/22/2026

(g),(j),(m)

571‌

388‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.58%

6.25%,

04/22/2031

(g),(j),(m)

970‌

475‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.96%

10.25%,

11/30/2024

(g)

1,214‌

1,211‌

TripAdvisor

Inc

7.00%,

07/15/2025

(g)

925‌

927‌

Uber

Technologies

Inc

4.50%,

08/15/2029

(g)

8,994‌

8,313‌

6.25%,

01/15/2028

(g)

870‌

863‌

7.50%,

05/15/2025

(g)

752‌

760‌

7.50%,

09/15/2027

(g)

1,267‌

1,293‌

8.00%,

11/01/2026

(g)

2,199‌

2,243‌

Ziff

Davis

Inc

4.63%,

10/15/2030

(g)

585‌

513‌

$

52,792‌

Investment

Companies

-

0.47%

Compass

Group

Diversified

Holdings

LLC

5.00%,

01/15/2032

(g)

355‌

292‌

5.25%,

04/15/2029

(g)

1,180‌

1,074‌

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.38%,

02/01/2029

8,344‌

6,768‌

4.75%,

09/15/2024

1,295‌

1,253‌

5.25%,

05/15/2027

4,224‌

3,723‌

6.25%,

05/15/2026

1,435‌

1,345‌

6.38%,

12/15/2025

830‌

794‌

$

15,249‌

Iron

&

Steel

-

1.17%

Allegheny

Ludlum

LLC

6.95%,

12/15/2025

170‌

171‌

ATI

Inc

4.88%,

10/01/2029

383‌

349‌

5.13%,

10/01/2031

268‌

241‌

5.88%,

12/01/2027

405‌

394‌

Baffinland

Iron

Mines

Corp

/

Baffinland

Iron

Mines

LP

8.75%,

07/15/2026

(g)

16,552‌

16,056‌

Big

River

Steel

LLC

/

BRS

Finance

Corp

6.63%,

01/31/2029

(g)

4,951‌

4,934‌

Carpenter

Technology

Corp

6.38%,

07/15/2028

369‌

363‌

7.63%,

03/15/2030

365‌

372‌

Cleveland-Cliffs

Inc

4.63%,

03/01/2029

(g)

435‌

398‌

4.88%,

03/01/2031

(f),(g)

405‌

359‌

5.88%,

06/01/2027

(f)

566‌

556‌

6.25%,

10/01/2040

223‌

190‌

6.75%,

03/15/2026

(g)

604‌

607‌

6.75%,

04/15/2030

(g)

79‌

77‌

Commercial

Metals

Co

3.88%,

02/15/2031

3‌

3‌

4.13%,

01/15/2030

465‌

416‌

4.38%,

03/15/2032

425‌

369‌

Infrabuild

Australia

Pty

Ltd

12.00%,

10/01/2024

(f),(g)

295‌

286‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Iron

&

Steel

(continued)

Mineral

Resources

Ltd

8.00%,

11/01/2027

(g)

$

500‌

$

501‌

8.13%,

05/01/2027

(g)

1,075‌

1,076‌

8.50%,

05/01/2030

(g)

600‌

606‌

Specialty

Steel

15.53%,

11/15/2026

(e),(k)

8,680‌

8,680‌

TMS

International

Corp/DE

6.25%,

04/15/2029

(g)

608‌

509‌

United

States

Steel

Corp

6.88%,

03/01/2029

(f)

460‌

454‌

$

37,967‌

Leisure

Products

&

Services

-

1.82%

Carnival

Corp

4.00%,

08/01/2028

(g)

1,455‌

1,294‌

5.75%,

03/01/2027

(g)

18,810‌

17,400‌

6.00%,

05/01/2029

(g)

1,829‌

1,644‌

6.65%,

01/15/2028

320‌

296‌

7.63%,

03/01/2026

(f),(g)

4,040‌

3,986‌

9.88%,

08/01/2027

(g)

881‌

921‌

10.50%,

02/01/2026

(g)

1,220‌

1,286‌

10.50%,

06/01/2030

(g)

1,300‌

1,375‌

Carnival

Holdings

Bermuda

Ltd

10.38%,

05/01/2028

(g)

2,046‌

2,232‌

Constellation

Merger

Sub

Inc

8.50%,

09/15/2025

(g)

680‌

570‌

Life

Time

Inc

5.75%,

01/15/2026

(g)

1,065‌

1,044‌

8.00%,

04/15/2026

(g)

465‌

465‌

Lindblad

Expeditions

Holdings

Inc

9.00%,

05/15/2028

(g)

300‌

310‌

Lindblad

Expeditions

LLC

6.75%,

02/15/2027

(g)

200‌

192‌

MajorDrive

Holdings

IV

LLC

6.38%,

06/01/2029

(g)

590‌

483‌

NCL

Corp

Ltd

3.63%,

12/15/2024

(g)

505‌

485‌

5.88%,

03/15/2026

(g)

1,485‌

1,405‌

5.88%,

02/15/2027

(g)

940‌

915‌

7.75%,

02/15/2029

(f),(g)

613‌

587‌

8.38%,

02/01/2028

(g)

540‌

563‌

NCL

Finance

Ltd

6.13%,

03/15/2028

(g)

545‌

496‌

Royal

Caribbean

Cruises

Ltd

3.70%,

03/15/2028

810‌

707‌

4.25%,

07/01/2026

(g)

920‌

855‌

5.38%,

07/15/2027

(g)

900‌

856‌

5.50%,

08/31/2026

(g)

1,060‌

1,017‌

5.50%,

04/01/2028

(f),(g)

6,755‌

6,366‌

7.25%,

01/15/2030

(g)

565‌

571‌

7.50%,

10/15/2027

650‌

661‌

8.25%,

01/15/2029

(g)

936‌

978‌

9.25%,

01/15/2029

(g)

1,153‌

1,228‌

11.50%,

06/01/2025

(g)

709‌

751‌

11.63%,

08/15/2027

(g)

1,995‌

2,178‌

Viking

Cruises

Ltd

5.88%,

09/15/2027

(g)

1,000‌

935‌

6.25%,

05/15/2025

(g)

628‌

616‌

7.00%,

02/15/2029

(g)

565‌

532‌

9.13%,

07/15/2031

(g)

834‌

858‌

Viking

Ocean

Cruises

Ship

VII

Ltd

5.63%,

02/15/2029

(g)

330‌

307‌

Vista

Outdoor

Inc

4.50%,

03/15/2029

(g)

1,195‌

1,016‌

VOC

Escrow

Ltd

5.00%,

02/15/2028

(g)

545‌

506‌

$

58,887‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

86

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Lodging

-

2.15%

Boyd

Gaming

Corp

4.75%,

12/01/2027

(f)

$

970‌

$

914‌

4.75%,

06/15/2031

(f),(g)

8,644‌

7,734‌

Genting

New

York

LLC

/

GENNY

Capital

Inc

3.30%,

02/15/2026

(g)

895‌

802‌

Hilton

Domestic

Operating

Co

Inc

3.63%,

02/15/2032

(g)

2,435‌

2,043‌

3.75%,

05/01/2029

(g)

1,210‌

1,078‌

4.00%,

05/01/2031

(g)

1,720‌

1,500‌

4.88%,

01/15/2030

1,510‌

1,416‌

5.38%,

05/01/2025

(g)

690‌

684‌

5.75%,

05/01/2028

(g)

912‌

898‌

Hilton

Grand

Vacations

Borrower

Escrow

LLC

/

Hilton

Grand

Vacations

Borrower

Escrow

Inc

4.88%,

07/01/2031

(g)

582‌

498‌

5.00%,

06/01/2029

(g)

746‌

667‌

Hilton

Worldwide

Finance

LLC

/

Hilton

Worldwide

Finance

Corp

4.88%,

04/01/2027

649‌

627‌

Las

Vegas

Sands

Corp

2.90%,

06/25/2025

939‌

883‌

3.20%,

08/08/2024

3,279‌

3,183‌

3.50%,

08/18/2026

1,898‌

1,775‌

3.90%,

08/08/2029

1,319‌

1,182‌

Marriott

Ownership

Resorts

Inc

4.50%,

06/15/2029

(g)

579‌

502‌

4.75%,

01/15/2028

380‌

344‌

Melco

Resorts

Finance

Ltd

4.88%,

06/06/2025

1,249‌

1,192‌

5.38%,

12/04/2029

(g)

1,515‌

1,289‌

5.75%,

07/21/2028

(g)

1,205‌

1,073‌

MGM

China

Holdings

Ltd

4.75%,

02/01/2027

(g)

860‌

790‌

5.25%,

06/18/2025

(g)

620‌

595‌

5.88%,

05/15/2026

(f),(g)

900‌

873‌

MGM

Resorts

International

4.63%,

09/01/2026

511‌

485‌

4.75%,

10/15/2028

925‌

854‌

5.50%,

04/15/2027

843‌

812‌

5.75%,

06/15/2025

700‌

692‌

6.75%,

05/01/2025

800‌

803‌

Sands

China

Ltd

5.90%,

08/08/2028

2,725‌

2,654‌

Station

Casinos

LLC

4.50%,

02/15/2028

(g)

665‌

603‌

4.63%,

12/01/2031

(g)

19,665‌

16,617‌

Studio

City

Co

Ltd

7.00%,

02/15/2027

(g)

360‌

342‌

Studio

City

Finance

Ltd

5.00%,

01/15/2029

(g)

1,370‌

1,055‌

6.00%,

07/15/2025

(g)

395‌

373‌

6.50%,

01/15/2028

(g)

1,079‌

935‌

Travel

+

Leisure

Co

4.50%,

12/01/2029

(g)

705‌

606‌

4.63%,

03/01/2030

(g)

337‌

291‌

5.65%,

04/01/2024

266‌

264‌

6.00%,

04/01/2027

739‌

724‌

6.63%,

07/31/2026

(g)

921‌

917‌

Wyndham

Hotels

&

Resorts

Inc

4.38%,

08/15/2028

(g)

545‌

499‌

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp

5.25%,

05/15/2027

(g)

929‌

883‌

5.50%,

03/01/2025

(g)

1,865‌

1,830‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Lodging

(continued)

Wynn

Macau

Ltd

4.88%,

10/01/2024

(f),(g)

$

635‌

$

619‌

5.13%,

12/15/2029

(g)

1,085‌

921‌

5.50%,

01/15/2026

(g)

1,150‌

1,083‌

5.50%,

10/01/2027

(f),(g)

730‌

660‌

5.63%,

08/26/2028

(g)

1,560‌

1,385‌

$

69,449‌

Machinery

-

Construction

&

Mining

-

0.09%

BWX

Technologies

Inc

4.13%,

06/30/2028

(g)

657‌

598‌

4.13%,

04/15/2029

(g)

410‌

368‌

Manitowoc

Co

Inc/The

9.00%,

04/01/2026

(f),(g)

225‌

224‌

Terex

Corp

5.00%,

05/15/2029

(g)

756‌

703‌

Vertiv

Group

Corp

4.13%,

11/15/2028

(g)

1,000‌

898‌

$

2,791‌

Machinery

-

Diversified

-

0.85%

ATS

Corp

4.13%,

12/15/2028

(g)

346‌

309‌

Chart

Industries

Inc

7.50%,

01/01/2030

(g)

2,120‌

2,173‌

9.50%,

01/01/2031

(g)

7,350‌

7,883‌

GrafTech

Finance

Inc

4.63%,

12/15/2028

(g)

628‌

522‌

Husky

III

Holding

Ltd

13.00%,

PIK

13.75%;

02/15/2025

(g),(h),(i)

573‌

533‌

Maxim

Crane

Works

Holdings

Capital

LLC

10.13%,

08/01/2024

(g)

314‌

314‌

Mueller

Water

Products

Inc

4.00%,

06/15/2029

(g)

340‌

303‌

OT

Merger

Corp

7.88%,

10/15/2029

(g)

325‌

210‌

SPX

FLOW

Inc

8.75%,

04/01/2030

(g)

540‌

498‌

Titan

Acquisition

Ltd

/

Titan

Co-Borrower

LLC

7.75%,

04/15/2026

(g)

13,519‌

12,557‌

TK

Elevator

Holdco

GmbH

7.63%,

07/15/2028

(g)

470‌

438‌

TK

Elevator

US

Newco

Inc

5.25%,

07/15/2027

(g)

1,832‌

1,713‌

$

27,453‌

Media

-

5.47%

Altice

Financing

SA

5.00%,

01/15/2028

(g)

1,111‌

862‌

5.75%,

08/15/2029

(g)

2,143‌

1,607‌

AMC

Networks

Inc

4.25%,

02/15/2029

1,505‌

836‌

4.75%,

08/01/2025

1,120‌

992‌

Audacy

Capital

Corp

6.50%,

05/01/2027

(g)

277‌

4‌

6.75%,

03/31/2029

(g)

365‌

8‌

Beasley

Mezzanine

Holdings

LLC

8.63%,

02/01/2026

(g)

315‌

205‌

Belo

Corp

7.25%,

09/15/2027

390‌

384‌

Block

Communications

Inc

4.88%,

03/01/2028

(g)

17‌

14‌

Cable

One

Inc

4.00%,

11/15/2030

(f),(g)

490‌

387‌

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.25%,

02/01/2031

(g)

10,190‌

8,377‌

4.25%,

01/15/2034

(g)

6,310‌

4,850‌

4.50%,

08/15/2030

(g)

3,065‌

2,597‌

4.50%,

05/01/2032

6,072‌

4,951‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

87

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp  

(continued)

4.50%,

06/01/2033

(g)

$

2,122‌

$

1,679‌

4.75%,

03/01/2030

(f),(g)

8,845‌

7,667‌

4.75%,

02/01/2032

(g)

1,740‌

1,437‌

5.00%,

02/01/2028

(g)

4,050‌

3,742‌

5.13%,

05/01/2027

(g)

4,353‌

4,084‌

5.38%,

06/01/2029

(g)

4,882‌

4,461‌

5.50%,

05/01/2026

(g)

1,080‌

1,054‌

6.38%,

09/01/2029

(g)

1,677‌

1,604‌

7.38%,

03/01/2031

(g)

200‌

199‌

CSC

Holdings

LLC

3.38%,

02/15/2031

(g)

880‌

610‌

4.13%,

12/01/2030

(g)

3,690‌

2,668‌

4.50%,

11/15/2031

(g)

1,110‌

796‌

4.63%,

12/01/2030

(g)

12,605‌

6,332‌

5.00%,

11/15/2031

(g)

270‌

136‌

5.25%,

06/01/2024

784‌

731‌

5.38%,

02/01/2028

(g)

900‌

752‌

5.50%,

04/15/2027

(g)

1,200‌

1,029‌

5.75%,

01/15/2030

(g)

2,567‌

1,329‌

6.50%,

02/01/2029

(g)

1,793‌

1,522‌

7.50%,

04/01/2028

(g)

3,600‌

2,224‌

11.25%,

05/15/2028

(g)

1,045‌

1,033‌

Cumulus

Media

New

Holdings

Inc

6.75%,

07/01/2026

(g)

516‌

387‌

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor

Inc

5.88%,

08/15/2027

(g)

5,044‌

4,553‌

DISH

DBS

Corp

5.13%,

06/01/2029

2,185‌

1,098‌

5.25%,

12/01/2026

(g)

1,910‌

1,564‌

5.75%,

12/01/2028

(g)

2,305‌

1,774‌

5.88%,

11/15/2024

1,384‌

1,264‌

7.38%,

07/01/2028

6,654‌

3,743‌

7.75%,

07/01/2026

6,652‌

4,301‌

DISH

Network

Corp

11.75%,

11/15/2027

(g)

2,858‌

2,877‌

Gannett

Holdings

LLC

6.00%,

11/01/2026

(g)

375‌

323‌

GCI

LLC

4.75%,

10/15/2028

(g)

520‌

452‌

Gray

Escrow

II

Inc

5.38%,

11/15/2031

(g)

900‌

628‌

Gray

Television

Inc

4.75%,

10/15/2030

(f),(g)

500‌

352‌

5.88%,

07/15/2026

(g)

370‌

333‌

7.00%,

05/15/2027

(g)

435‌

376‌

Historic

TW

Inc

8.30%,

01/15/2036

(h)

13‌

14‌

iHeartCommunications

Inc

4.75%,

01/15/2028

(g)

1,005‌

773‌

5.25%,

08/15/2027

(g)

821‌

646‌

6.38%,

05/01/2026

1,002‌

866‌

8.38%,

05/01/2027

(f)

1,423‌

974‌

LCPR

Senior

Secured

Financing

DAC

5.13%,

07/15/2029

(g)

1,061‌

877‌

6.75%,

10/15/2027

(g)

1,265‌

1,183‌

Liberty

Interactive

LLC

8.25%,

02/01/2030

582‌

221‌

8.50%,

07/15/2029

331‌

125‌

McGraw-Hill

Education

Inc

5.75%,

08/01/2028

(g)

750‌

658‌

8.00%,

08/01/2029

(g)

856‌

736‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

Midcontinent

Communications

/

Midcontinent

Finance

Corp

5.38%,

08/15/2027

(g)

$

1,305‌

$

1,231‌

News

Corp

3.88%,

05/15/2029

(g)

1,275‌

1,126‌

5.13%,

02/15/2032

(g)

660‌

604‌

Nexstar

Media

Inc

4.75%,

11/01/2028

(f),(g)

1,517‌

1,337‌

5.63%,

07/15/2027

(g)

9,528‌

8,957‌

Paramount

Global

6.25%,

02/28/2057

(j)

1,412‌

1,094‌

3

Month

USD

LIBOR

+

3.90%

6.38%,

03/30/2062

(j)

1,250‌

1,031‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.00%

Radiate

Holdco

LLC

/

Radiate

Finance

Inc

4.50%,

09/15/2026

(g)

996‌

809‌

6.50%,

09/15/2028

(g)

6,625‌

3,971‌

Scripps

Escrow

II

Inc

3.88%,

01/15/2029

(g)

443‌

368‌

5.38%,

01/15/2031

(f),(g)

3,173‌

2,419‌

Scripps

Escrow

Inc

5.88%,

07/15/2027

(g)

283‌

236‌

Sinclair

Television

Group

Inc

4.13%,

12/01/2030

(g)

535‌

349‌

5.13%,

02/15/2027

(f),(g)

218‌

182‌

5.50%,

03/01/2030

(g)

400‌

211‌

Sirius

XM

Radio

Inc

3.13%,

09/01/2026

(g)

1,178‌

1,063‌

3.88%,

09/01/2031

(g)

4,300‌

3,367‌

4.00%,

07/15/2028

(g)

5,005‌

4,355‌

4.13%,

07/01/2030

(g)

3,113‌

2,564‌

5.00%,

08/01/2027

(g)

1,645‌

1,528‌

5.50%,

07/01/2029

(g)

1,322‌

1,208‌

SportsNet

New

York

10.25%,

01/15/2025

(e),(k)

4,130‌

3,996‌

TEGNA

Inc

4.63%,

03/15/2028

1,609‌

1,440‌

4.75%,

03/15/2026

(g)

658‌

631‌

5.00%,

09/15/2029

715‌

637‌

Telenet

Finance

Luxembourg

Notes

Sarl

5.50%,

03/01/2028

(g)

1,400‌

1,280‌

Townsquare

Media

Inc

6.88%,

02/01/2026

(g)

350‌

337‌

Univision

Communications

Inc

4.50%,

05/01/2029

(g)

1,350‌

1,168‌

5.13%,

02/15/2025

(g)

1,959‌

1,920‌

6.63%,

06/01/2027

(g)

1,767‌

1,719‌

7.38%,

06/30/2030

(g)

1,250‌

1,217‌

8.00%,

08/15/2028

(g),(l)

163‌

164‌

UPC

Broadband

Finco

BV

4.88%,

07/15/2031

(g)

1,360‌

1,142‌

UPC

Holding

BV

5.50%,

01/15/2028

(g)

455‌

405‌

Urban

One

Inc

7.38%,

02/01/2028

(g)

800‌

706‌

Videotron

Ltd

3.63%,

06/15/2029

(f),(g)

985‌

857‌

5.13%,

04/15/2027

(g)

838‌

808‌

Virgin

Media

Finance

PLC

5.00%,

07/15/2030

(g)

12,796‌

10,500‌

Virgin

Media

Secured

Finance

PLC

4.50%,

08/15/2030

(g)

950‌

814‌

5.50%,

05/15/2029

(g)

1,675‌

1,546‌

Virgin

Media

Vendor

Financing

Notes

IV

DAC

5.00%,

07/15/2028

(g)

660‌

581‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

88

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

VZ

Secured

Financing

BV

5.00%,

01/15/2032

(g)

$

1,545‌

$

1,256‌

Warner

Media

LLC

7.63%,

04/15/2031

300‌

321‌

Ziggo

Bond

Co

BV

5.13%,

02/28/2030

(g)

755‌

596‌

6.00%,

01/15/2027

(g)

1,625‌

1,512‌

Ziggo

BV

4.88%,

01/15/2030

(g)

1,275‌

1,080‌

$

176,904‌

Metal

Fabrication

&

Hardware

-

0.05%

Advanced

Drainage

Systems

Inc

6.38%,

06/15/2030

(g)

575‌

569‌

Park-Ohio

Industries

Inc

6.63%,

04/15/2027

756‌

664‌

Roller

Bearing

Co

of

America

Inc

4.38%,

10/15/2029

(g)

575‌

513‌

$

1,746‌

Mining

-

1.91%

AngloGold

Ashanti

Holdings

PLC

6.50%,

04/15/2040

350‌

346‌

Arconic

Corp

6.00%,

05/15/2025

(g)

491‌

498‌

6.13%,

02/15/2028

(g)

16,382‌

16,815‌

Arsenal

AIC

Parent

LLC

8.00%,

10/01/2030

(g),(l)

6,597‌

6,729‌

Century

Aluminum

Co

7.50%,

04/01/2028

(f),(g)

11,445‌

10,872‌

Coeur

Mining

Inc

5.13%,

02/15/2029

(f),(g)

895‌

743‌

Compass

Minerals

International

Inc

6.75%,

12/01/2027

(g)

953‌

928‌

Constellium

SE

3.75%,

04/15/2029

(g)

3,450‌

2,999‌

5.63%,

06/15/2028

(g)

1,055‌

1,005‌

5.88%,

02/15/2026

(g)

1,310‌

1,290‌

FMG

Resources

August

2006

Pty

Ltd

4.38%,

04/01/2031

(g)

2,435‌

2,094‌

4.50%,

09/15/2027

(g)

833‌

779‌

5.88%,

04/15/2030

(g)

1,160‌

1,112‌

6.13%,

04/15/2032

(g)

919‌

882‌

Hecla

Mining

Co

7.25%,

02/15/2028

740‌

733‌

Hudbay

Minerals

Inc

4.50%,

04/01/2026

1,350‌

1,280‌

6.13%,

04/01/2029

630‌

604‌

JW

Aluminum

Continuous

Cast

Co

10.25%,

06/01/2026

(g)

435‌

431‌

Kaiser

Aluminum

Corp

4.50%,

06/01/2031

(g)

841‌

688‌

4.63%,

03/01/2028

(g)

745‌

669‌

New

Gold

Inc

7.50%,

07/15/2027

(g)

359‌

343‌

Northwest

Acquisitions

ULC

/

Dominion

Finco

Inc

0.00%,

11/01/2022

(d),(g)

15,820‌

—‌

Novelis

Corp

3.25%,

11/15/2026

(g)

585‌

532‌

3.88%,

08/15/2031

(g)

2,525‌

2,103‌

4.75%,

01/30/2030

(g)

7,065‌

6,349‌

Perenti

Finance

Pty

Ltd

6.50%,

10/07/2025

(f),(g)

615‌

601‌

Taseko

Mines

Ltd

7.00%,

02/15/2026

(g)

430‌

398‌

$

61,823‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Miscellaneous

Manufacturers

-

0.13%

Amsted

Industries

Inc

4.63%,

05/15/2030

(g)

$

470‌

$

417‌

5.63%,

07/01/2027

(g)

600‌

582‌

EnPro

Industries

Inc

5.75%,

10/15/2026

194‌

189‌

FXI

Holdings

Inc

12.25%,

11/15/2026

(g)

643‌

598‌

Gates

Global

LLC

/

Gates

Corp

6.25%,

01/15/2026

(g)

680‌

672‌

Hillenbrand

Inc

3.75%,

03/01/2031

100‌

85‌

5.00%,

09/15/2026

360‌

352‌

5.75%,

06/15/2025

327‌

324‌

LSB

Industries

Inc

6.25%,

10/15/2028

(g)

730‌

670‌

Trinity

Industries

Inc

4.55%,

10/01/2024

230‌

225‌

$

4,114‌

Office

&

Business

Equipment

-

0.13%

Pitney

Bowes

Inc

6.88%,

03/15/2027

(f),(g)

780‌

589‌

7.25%,

03/15/2029

(g)

654‌

444‌

Xerox

Corp

3.80%,

05/15/2024

215‌

211‌

4.80%,

03/01/2035

650‌

443‌

6.75%,

12/15/2039

490‌

378‌

Xerox

Holdings

Corp

5.00%,

08/15/2025

(f),(g)

1,206‌

1,157‌

5.50%,

08/15/2028

(g)

1,095‌

961‌

$

4,183‌

Office

Furnishings

-

0.04%

Steelcase

Inc

5.13%,

01/18/2029

1,453‌

1,286‌

Oil

&

Gas

-

4.76%

Aethon

United

BR

LP

/

Aethon

United

Finance

Corp

8.25%,

02/15/2026

(g)

1,080‌

1,072‌

Antero

Resources

Corp

7.63%,

02/01/2029

(g)

524‌

537‌

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp

5.88%,

06/30/2029

(g)

230‌

208‌

7.00%,

11/01/2026

(g)

530‌

518‌

8.25%,

12/31/2028

(g)

363‌

360‌

Athabasca

Oil

Corp

9.75%,

11/01/2026

(g)

309‌

319‌

Baytex

Energy

Corp

8.50%,

04/30/2030

(g)

1,285‌

1,302‌

8.75%,

04/01/2027

(g)

900‌

922‌

Berry

Petroleum

Co

LLC

7.00%,

02/15/2026

(g)

465‌

442‌

California

Resources

Corp

7.13%,

02/01/2026

(g)

880‌

887‌

Callon

Petroleum

Co

6.38%,

07/01/2026

275‌

269‌

7.50%,

06/15/2030

(f),(g)

6,440‌

6,252‌

8.00%,

08/01/2028

(g)

509‌

516‌

8.25%,

07/15/2025

464‌

464‌

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp

8.13%,

01/15/2027

(g)

476‌

455‌

9.75%,

07/15/2028

(g)

886‌

884‌

11.00%,

04/15/2025

(f),(g)

269‌

277‌

Chesapeake

Energy

Corp

5.50%,

02/01/2026

(g)

600‌

591‌

5.88%,

02/01/2029

(g)

554‌

530‌

6.75%,

04/15/2029

(g)

4,180‌

4,161‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

89

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

Chord

Energy

Corp

6.38%,

06/01/2026

(g)

$

684‌

$

679‌

Civitas

Resources

Inc

5.00%,

10/15/2026

(g)

1,160‌

1,095‌

8.38%,

07/01/2028

(g)

1,570‌

1,615‌

8.75%,

07/01/2031

(g)

2,260‌

2,339‌

CNX

Resources

Corp

6.00%,

01/15/2029

(g)

2,020‌

1,889‌

7.25%,

03/14/2027

(g)

585‌

583‌

7.38%,

01/15/2031

(f),(g)

5,310‌

5,265‌

Comstock

Resources

Inc

5.88%,

01/15/2030

(g)

16,635‌

14,725‌

6.75%,

03/01/2029

(g)

4,580‌

4,273‌

Crescent

Energy

Finance

LLC

7.25%,

05/01/2026

(g)

815‌

803‌

9.25%,

02/15/2028

(g)

1,217‌

1,238‌

CrownRock

LP

/

CrownRock

Finance

Inc

5.00%,

05/01/2029

(g)

321‌

302‌

5.63%,

10/15/2025

(g)

1,540‌

1,517‌

CVR

Energy

Inc

5.25%,

02/15/2025

(g)

1,060‌

1,029‌

5.75%,

02/15/2028

(g)

300‌

271‌

Earthstone

Energy

Holdings

LLC

8.00%,

04/15/2027

(g)

500‌

495‌

9.88%,

07/15/2031

(g)

1,767‌

1,824‌

Encino

Acquisition

Partners

Holdings

LLC

8.50%,

05/01/2028

(g)

750‌

688‌

Endeavor

Energy

Resources

LP

/

EER

Finance

Inc

5.75%,

01/30/2028

(g)

1,327‌

1,292‌

Energy

Ventures

Gom

LLC

/

EnVen

Finance

Corp

11.75%,

04/15/2026

(g)

179‌

185‌

Global

Marine

Inc

7.00%,

06/01/2028

500‌

436‌

Gulfport

Energy

Corp

8.00%,

05/17/2026

680‌

687‌

Harbour

Energy

PLC

5.50%,

10/15/2026

(g)

655‌

608‌

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co

5.75%,

02/01/2029

(g)

940‌

870‌

6.00%,

04/15/2030

(g)

2,660‌

2,459‌

6.00%,

02/01/2031

(g)

4,672‌

4,230‌

6.25%,

11/01/2028

(g)

775‌

742‌

6.25%,

04/15/2032

(g)

5,547‌

5,042‌

Ithaca

Energy

North

Sea

PLC

9.00%,

07/15/2026

(g)

535‌

508‌

Magnolia

Oil

&

Gas

Operating

LLC

/

Magnolia

Oil

&

Gas

Finance

Corp

6.00%,

08/01/2026

(g)

374‌

367‌

Matador

Resources

Co

5.88%,

09/15/2026

1,130‌

1,100‌

6.88%,

04/15/2028

(f),(g)

350‌

348‌

MEG

Energy

Corp

5.88%,

02/01/2029

(g)

7,045‌

6,754‌

7.13%,

02/01/2027

(g)

465‌

471‌

Moss

Creek

Resources

Holdings

Inc

7.50%,

01/15/2026

(g)

871‌

813‌

10.50%,

05/15/2027

(g)

660‌

644‌

Murphy

Oil

Corp

5.75%,

08/15/2025

297‌

292‌

5.87%,

12/01/2042

245‌

209‌

5.88%,

12/01/2027

771‌

763‌

6.38%,

07/15/2028

714‌

711‌

7.05%,

05/01/2029

395‌

400‌

Nabors

Industries

Inc

5.75%,

02/01/2025

595‌

583‌

7.38%,

05/15/2027

(g)

655‌

641‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

Nabors

Industries

Ltd

7.25%,

01/15/2026

(g)

$

545‌

$

525‌

7.50%,

01/15/2028

(g)

420‌

385‌

Neptune

Energy

Bondco

PLC

6.63%,

05/15/2025

(g)

1,475‌

1,464‌

Northern

Oil

and

Gas

Inc

8.13%,

03/01/2028

(g)

1,291‌

1,281‌

Parkland

Corp

4.50%,

10/01/2029

(g)

868‌

766‌

4.63%,

05/01/2030

(g)

615‌

540‌

5.88%,

07/15/2027

(g)

475‌

462‌

Patterson-UTI

Energy

Inc

3.95%,

02/01/2028

440‌

405‌

5.15%,

11/15/2029

405‌

376‌

PBF

Holding

Co

LLC

/

PBF

Finance

Corp

6.00%,

02/15/2028

925‌

873‌

7.25%,

06/15/2025

1,689‌

1,685‌

PDC

Energy

Inc

5.75%,

05/15/2026

1,130‌

1,136‌

6.13%,

09/15/2024

249‌

248‌

Permian

Resources

Operating

LLC

5.38%,

01/15/2026

(g)

335‌

322‌

5.88%,

07/01/2029

(g)

10,398‌

9,910‌

6.88%,

04/01/2027

(g)

200‌

198‌

7.75%,

02/15/2026

(g)

3‌

3‌

Petrofac

Ltd

9.75%,

11/15/2026

(g)

797‌

618‌

Precision

Drilling

Corp

6.88%,

01/15/2029

(g)

190‌

179‌

7.13%,

01/15/2026

(g)

225‌

223‌

Puma

International

Financing

SA

5.00%,

01/24/2026

(g)

730‌

666‌

5.13%,

10/06/2024

(g)

875‌

866‌

Range

Resources

Corp

4.75%,

02/15/2030

(g)

430‌

395‌

4.88%,

05/15/2025

550‌

540‌

8.25%,

01/15/2029

435‌

453‌

Rockcliff

Energy

II

LLC

5.50%,

10/15/2029

(g)

800‌

733‌

SM

Energy

Co

5.63%,

06/01/2025

345‌

338‌

6.63%,

01/15/2027

485‌

477‌

6.75%,

09/15/2026

375‌

368‌

Southwestern

Energy

Co

4.75%,

02/01/2032

795‌

706‌

5.38%,

02/01/2029

535‌

505‌

5.38%,

03/15/2030

1,039‌

972‌

5.70%,

01/23/2025

173‌

172‌

8.38%,

09/15/2028

165‌

171‌

Strathcona

Resources

Ltd/Alberta

6.88%,

08/01/2026

(g)

590‌

518‌

Sunoco

LP

/

Sunoco

Finance

Corp

4.50%,

05/15/2029

1,365‌

1,226‌

4.50%,

04/30/2030

4,125‌

3,658‌

5.88%,

03/15/2028

4,337‌

4,218‌

6.00%,

04/15/2027

788‌

781‌

Talos

Production

Inc

12.00%,

01/15/2026

1,198‌

1,253‌

Tap

Rock

Resources

LLC

7.00%,

10/01/2026

(g)

500‌

516‌

Teine

Energy

Ltd

6.88%,

04/15/2029

(g)

4,907‌

4,514‌

Transocean

Inc

6.80%,

03/15/2038

1,475‌

1,178‌

7.25%,

11/01/2025

(g)

485‌

479‌

7.50%,

01/15/2026

(g)

792‌

778‌

7.50%,

04/15/2031

275‌

240‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

90

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

Transocean

Inc  

(continued)

8.00%,

02/01/2027

(g)

$

944‌

$

910‌

8.75%,

02/15/2030

(g)

4,727‌

4,908‌

9.35%,

12/15/2041

200‌

175‌

11.50%,

01/30/2027

(g)

745‌

781‌

Transocean

Poseidon

Ltd

6.88%,

02/01/2027

(g)

551‌

547‌

Transocean

Titan

Financing

Ltd

8.38%,

02/01/2028

(g)

1,885‌

1,947‌

Valaris

Ltd

8.38%,

04/30/2030

(g)

388‌

397‌

Vermilion

Energy

Inc

5.63%,

03/15/2025

(g)

369‌

362‌

6.88%,

05/01/2030

(g)

645‌

598‌

Viper

Energy

Partners

LP

5.38%,

11/01/2027

(g)

620‌

595‌

Vital

Energy

Inc

7.75%,

07/31/2029

(g)

335‌

286‌

9.50%,

01/15/2025

(f)

620‌

617‌

10.13%,

01/15/2028

(f)

245‌

245‌

W&T

Offshore

Inc

11.75%,

02/01/2026

(g)

410‌

419‌

$

153,858‌

Oil

&

Gas

Services

-

0.27%

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6.25%,

04/01/2028

(g)

985‌

928‌

6.88%,

04/01/2027

(g)

435‌

424‌

Bristow

Group

Inc

6.88%,

03/01/2028

(g)

415‌

393‌

CGG

SA

8.75%,

04/01/2027

(f),(g)

414‌

350‌

CSI

Compressco

LP

/

CSI

Compressco

Finance

Inc

7.50%,

04/01/2025

(g)

25‌

24‌

Enerflex

Ltd

9.00%,

10/15/2027

(g)

730‌

735‌

KCA

Deutag

UK

Finance

PLC

9.88%,

12/01/2025

(g)

725‌

722‌

KLX

Energy

Services

Holdings

Inc

11.50%,

11/01/2025

(g)

455‌

432‌

Oceaneering

International

Inc

4.65%,

11/15/2024

453‌

439‌

6.00%,

02/01/2028

479‌

454‌

Telford

Offshore

Ltd

12.00%,

PIK

12.00%

(h),(i),(m)

450‌

7‌

USA

Compression

Partners

LP

/

USA

Compression

Finance

Corp

6.88%,

04/01/2026

807‌

800‌

6.88%,

09/01/2027

739‌

712‌

Weatherford

International

Ltd

6.50%,

09/15/2028

(g)

690‌

690‌

8.63%,

04/30/2030

(g)

1,715‌

1,758‌

$

8,868‌

Packaging

&

Containers

-

2.60%

ARD

Finance

SA

6.50%,

PIK

7.25%;

06/30/2027

(g),(h),(i)

1,027‌

835‌

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC

3.25%,

09/01/2028

(g)

749‌

647‌

4.00%,

09/01/2029

(f),(g)

22,079‌

18,059‌

6.00%,

06/15/2027

(g)

785‌

775‌

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA

Inc

4.13%,

08/15/2026

(g)

1,680‌

1,574‌

5.25%,

04/30/2025

(g)

1,695‌

1,661‌

5.25%,

08/15/2027

(g)

894‌

767‌

5.25%,

08/15/2027

(g)

1,070‌

918‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

Ball

Corp

2.88%,

08/15/2030

$

1,400‌

$

1,155‌

3.13%,

09/15/2031

1,370‌

1,125‌

4.88%,

03/15/2026

1,140‌

1,114‌

5.25%,

07/01/2025

885‌

877‌

6.00%,

06/15/2029

2,486‌

2,486‌

Berry

Global

Inc

4.50%,

02/15/2026

(g)

296‌

282‌

5.63%,

07/15/2027

(f),(g)

500‌

488‌

Cascades

Inc/Cascades

USA

Inc

5.38%,

01/15/2028

(g)

511‌

480‌

Clearwater

Paper

Corp

4.75%,

08/15/2028

(g)

219‌

193‌

Clydesdale

Acquisition

Holdings

Inc

6.63%,

04/15/2029

(g)

530‌

507‌

8.75%,

04/15/2030

(g)

1,070‌

970‌

Crown

Americas

LLC

5.25%,

04/01/2030

540‌

515‌

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp

V

4.25%,

09/30/2026

645‌

610‌

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp

VI

4.75%,

02/01/2026

970‌

938‌

Crown

Cork

&

Seal

Co

Inc

7.38%,

12/15/2026

654‌

683‌

Graham

Packaging

Co

Inc

7.13%,

08/15/2028

(g)

625‌

547‌

Graphic

Packaging

International

LLC

3.50%,

03/15/2028

(g)

560‌

502‌

3.50%,

03/01/2029

(g)

576‌

502‌

3.75%,

02/01/2030

(g)

185‌

161‌

4.13%,

08/15/2024

350‌

342‌

Intelligent

Packaging

Ltd

Finco

Inc

/

Intelligent

Packaging

Ltd

Co-Issuer

LLC

6.00%,

09/15/2028

(g)

6,135‌

5,429‌

LABL

Inc

6.75%,

07/15/2026

(g)

820‌

804‌

8.25%,

11/01/2029

(g)

545‌

452‌

9.50%,

11/01/2028

(g)

492‌

504‌

10.50%,

07/15/2027

(g)

925‌

881‌

Mauser

Packaging

Solutions

Holding

Co

7.88%,

08/15/2026

(g)

3,498‌

3,489‌

9.25%,

04/15/2027

(g)

1,589‌

1,476‌

OI

European

Group

BV

4.75%,

02/15/2030

(g)

282‌

255‌

Owens-Brockway

Glass

Container

Inc

6.38%,

08/15/2025

(g)

243‌

243‌

6.63%,

05/13/2027

(g)

415‌

413‌

7.25%,

05/15/2031

(g)

10‌

10‌

Pactiv

Evergreen

Group

Issuer

Inc/Pactiv

Evergreen

Group

Issuer

LLC

4.00%,

10/15/2027

(g)

1,275‌

1,148‌

Pactiv

Evergreen

Group

Issuer

LLC

/

Pactiv

Evergreen

Group

Issuer

Inc

4.38%,

10/15/2028

(g)

685‌

606‌

Pactiv

LLC

7.95%,

12/15/2025

124‌

125‌

8.38%,

04/15/2027

150‌

152‌

Sealed

Air

Corp

4.00%,

12/01/2027

(g)

650‌

599‌

5.00%,

04/15/2029

(g)

603‌

563‌

5.13%,

12/01/2024

(g)

480‌

473‌

5.50%,

09/15/2025

(g)

872‌

859‌

6.88%,

07/15/2033

(g)

790‌

826‌

Sealed

Air

Corp/Sealed

Air

Corp

US

6.13%,

02/01/2028

(g)

1,115‌

1,110‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

91

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

Silgan

Holdings

Inc

4.13%,

02/01/2028

$

715‌

$

650‌

Trident

TPI

Holdings

Inc

12.75%,

12/31/2028

(g)

6,150‌

6,512‌

TriMas

Corp

4.13%,

04/15/2029

(g)

541‌

477‌

Trivium

Packaging

Finance

BV

5.50%,

08/15/2026

(g)

16,360‌

15,543‌

8.50%,

08/15/2027

(g)

780‌

750‌

$

84,062‌

Pharmaceuticals

-

1.10%

180

Medical

Inc

3.88%,

10/15/2029

(g)

625‌

547‌

AdaptHealth

LLC

4.63%,

08/01/2029

(g)

580‌

475‌

5.13%,

03/01/2030

(g)

635‌

525‌

6.13%,

08/01/2028

(g)

495‌

443‌

Bausch

Health

Americas

Inc

8.50%,

01/31/2027

(g)

700‌

397‌

9.25%,

04/01/2026

(g)

1,006‌

860‌

Bausch

Health

Cos

Inc

4.88%,

06/01/2028

(g)

1,540‌

934‌

5.00%,

01/30/2028

(g)

500‌

230‌

5.00%,

02/15/2029

(g)

210‌

96‌

5.25%,

01/30/2030

(g)

885‌

395‌

5.25%,

02/15/2031

(g)

260‌

117‌

5.50%,

11/01/2025

(g)

1,935‌

1,742‌

5.75%,

08/15/2027

(g)

900‌

579‌

6.13%,

02/01/2027

(g)

1,005‌

660‌

6.25%,

02/15/2029

(g)

900‌

417‌

7.00%,

01/15/2028

(g)

225‌

106‌

7.25%,

05/30/2029

(g)

400‌

189‌

9.00%,

12/15/2025

(g)

1,080‌

989‌

11.00%,

09/30/2028

(g)

2,151‌

1,586‌

14.00%,

10/15/2030

(g)

721‌

456‌

BellRing

Brands

Inc

7.00%,

03/15/2030

(g)

897‌

900‌

Cheplapharm

Arzneimittel

GmbH

5.50%,

01/15/2028

(g)

585‌

533‌

Elanco

Animal

Health

Inc

6.65%,

08/28/2028

(f)

605‌

597‌

Grifols

SA

3.88%,

10/15/2028

(g)

EUR

3,800‌

3,596‌

4.75%,

10/15/2028

(g)

$

3,185‌

2,792‌

Herbalife

Nutrition

Ltd

/

HLF

Financing

Inc

7.88%,

09/01/2025

(g)

890‌

846‌

HLF

Financing

Sarl

LLC

/

Herbalife

International

Inc

4.88%,

06/01/2029

(g)

11‌

8‌

Horizon

Therapeutics

USA

Inc

5.50%,

08/01/2027

(g)

710‌

717‌

Jazz

Securities

DAC

4.38%,

01/15/2029

(g)

2,126‌

1,890‌

Mallinckrodt

International

Finance

SA

/

Mallinckrodt

CB

LLC

10.00%,

04/15/2025

(g)

360‌

70‌

11.50%,

12/15/2028

(g)

500‌

431‌

Option

Care

Health

Inc

4.38%,

10/31/2029

(g)

353‌

312‌

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV

4.13%,

04/30/2028

(g)

2,978‌

2,669‌

5.13%,

04/30/2031

(f),(g)

2,420‌

2,051‌

Owens

&

Minor

Inc

4.50%,

03/31/2029

(f),(g)

555‌

477‌

6.63%,

04/01/2030

(f),(g)

1,850‌

1,694‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pharmaceuticals

(continued)

P&L

Development

LLC

/

PLD

Finance

Corp

7.75%,

11/15/2025

(g)

$

505‌

$

436‌

Perrigo

Finance

Unlimited

Co

3.90%,

12/15/2024

1,027‌

995‌

4.38%,

03/15/2026

1,086‌

1,030‌

4.65%,

06/15/2030

815‌

730‌

4.90%,

12/15/2044

140‌

109‌

Prestige

Brands

Inc

3.75%,

04/01/2031

(g)

935‌

785‌

5.13%,

01/15/2028

(g)

280‌

267‌

$

35,678‌

Pipelines

-

4.64%

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5.38%,

06/15/2029

(g)

880‌

825‌

5.75%,

03/01/2027

(g)

735‌

711‌

5.75%,

01/15/2028

(g)

6,325‌

6,082‌

7.88%,

05/15/2026

(g)

603‌

616‌

Blue

Racer

Midstream

LLC

/

Blue

Racer

Finance

Corp

6.63%,

07/15/2026

(g)

580‌

570‌

7.63%,

12/15/2025

(g)

690‌

692‌

Buckeye

Partners

LP

4.13%,

03/01/2025

(g)

850‌

818‌

4.13%,

12/01/2027

435‌

394‌

4.35%,

10/15/2024

295‌

287‌

4.50%,

03/01/2028

(g)

5,240‌

4,732‌

5.60%,

10/15/2044

2,594‌

1,920‌

5.85%,

11/15/2043

3,190‌

2,468‌

CNX

Midstream

Partners

LP

4.75%,

04/15/2030

(g)

8,819‌

7,644‌

CQP

Holdco

LP

/

BIP-V

Chinook

Holdco

LLC

5.50%,

06/15/2031

(g)

10,475‌

9,527‌

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp

5.63%,

05/01/2027

(g)

688‌

654‌

5.75%,

04/01/2025

589‌

580‌

6.00%,

02/01/2029

(g)

1,060‌

999‌

7.38%,

02/01/2031

(g)

705‌

703‌

8.00%,

04/01/2029

(g)

634‌

645‌

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp

6.75%,

05/15/2025

665‌

652‌

7.13%,

06/01/2028

(g)

556‌

514‌

DT

Midstream

Inc

4.13%,

06/15/2029

(g)

1,534‌

1,360‌

4.38%,

06/15/2031

(g)

1,560‌

1,354‌

EnLink

Midstream

LLC

5.38%,

06/01/2029

834‌

794‌

5.63%,

01/15/2028

(g)

382‌

373‌

6.50%,

09/01/2030

(g)

3,310‌

3,331‌

EnLink

Midstream

Partners

LP

4.15%,

06/01/2025

478‌

460‌

4.85%,

07/15/2026

754‌

733‌

5.05%,

04/01/2045

250‌

199‌

5.45%,

06/01/2047

567‌

469‌

5.60%,

04/01/2044

593‌

488‌

EQM

Midstream

Partners

LP

4.00%,

08/01/2024

792‌

775‌

4.13%,

12/01/2026

258‌

242‌

4.50%,

01/15/2029

(g)

580‌

530‌

4.75%,

01/15/2031

(g)

6,740‌

6,018‌

5.50%,

07/15/2028

563‌

542‌

6.50%,

07/01/2027

(g)

786‌

782‌

6.50%,

07/15/2048

490‌

448‌

7.50%,

06/01/2027

(g)

638‌

647‌

7.50%,

06/01/2030

(g)

376‌

388‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

92

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

(continued)

FTAI

Infra

Escrow

Holdings

LLC

10.50%,

06/01/2027

(g)

$

425‌

$

423‌

Genesis

Energy

LP

/

Genesis

Energy

Finance

Corp

6.25%,

05/15/2026

249‌

238‌

6.50%,

10/01/2025

701‌

694‌

7.75%,

02/01/2028

1,005‌

977‌

8.00%,

01/15/2027

9,650‌

9,498‌

8.88%,

04/15/2030

3,975‌

3,965‌

Global

Partners

LP

/

GLP

Finance

Corp

6.88%,

01/15/2029

456‌

428‌

7.00%,

08/01/2027

357‌

349‌

Harvest

Midstream

I

LP

7.50%,

09/01/2028

(g)

1,046‌

1,028‌

Hess

Midstream

Operations

LP

4.25%,

02/15/2030

(g)

765‌

671‌

5.13%,

06/15/2028

(g)

635‌

600‌

5.50%,

10/15/2030

(g)

3,505‌

3,295‌

5.63%,

02/15/2026

(g)

901‌

887‌

Holly

Energy

Partners

LP

/

Holly

Energy

Finance

Corp

5.00%,

02/01/2028

(g)

7,530‌

7,044‌

6.38%,

04/15/2027

(g)

500‌

498‌

Howard

Midstream

Energy

Partners

LLC

6.75%,

01/15/2027

(g)

340‌

328‌

ITT

Holdings

LLC

6.50%,

08/01/2029

(g)

1,140‌

975‌

Kinetik

Holdings

LP

5.88%,

06/15/2030

(g)

1,600‌

1,538‌

New

Fortress

Energy

Inc

6.50%,

09/30/2026

(g)

2,609‌

2,394‌

6.75%,

09/15/2025

(g)

5,056‌

4,814‌

NGL

Energy

Operating

LLC

/

NGL

Energy

Finance

Corp

7.50%,

02/01/2026

(g)

2,324‌

2,303‌

NGL

Energy

Partners

LP

/

NGL

Energy

Finance

Corp

6.13%,

03/01/2025

431‌

422‌

7.50%,

04/15/2026

551‌

523‌

Northriver

Midstream

Finance

LP

5.63%,

02/15/2026

(g)

558‌

533‌

NuStar

Logistics

LP

5.63%,

04/28/2027

485‌

471‌

5.75%,

10/01/2025

705‌

693‌

6.00%,

06/01/2026

640‌

630‌

6.38%,

10/01/2030

620‌

598‌

Rockies

Express

Pipeline

LLC

3.60%,

05/15/2025

(g)

800‌

762‌

4.80%,

05/15/2030

(g)

4,381‌

3,888‌

4.95%,

07/15/2029

(g)

4,420‌

4,060‌

6.88%,

04/15/2040

(g)

655‌

593‌

7.50%,

07/15/2038

(g)

630‌

579‌

Southeast

Supply

Header

LLC

4.25%,

06/15/2024

(g)

515‌

485‌

Summit

Midstream

Holdings

LLC

/

Summit

Midstream

Finance

Corp

5.75%,

04/15/2025

300‌

271‌

8.50%,

10/15/2026

(g),(h)

915‌

899‌

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp

5.50%,

01/15/2028

(g)

872‌

802‌

6.00%,

03/01/2027

(g)

691‌

655‌

6.00%,

12/31/2030

(g)

1,220‌

1,083‌

6.00%,

09/01/2031

(g)

565‌

491‌

7.50%,

10/01/2025

(g)

615‌

616‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

(continued)

Venture

Global

Calcasieu

Pass

LLC

3.88%,

08/15/2029

(g)

$

1,570‌

$

1,359‌

3.88%,

11/01/2033

(g)

1,665‌

1,351‌

4.13%,

08/15/2031

(g)

1,470‌

1,247‌

6.25%,

01/15/2030

(g)

4,300‌

4,204‌

Venture

Global

LNG

Inc

8.13%,

06/01/2028

(g)

1,587‌

1,613‌

8.38%,

06/01/2031

(g)

16,066‌

16,303‌

$

150,044‌

Real

Estate

-

0

.25%

Cushman

&

Wakefield

US

Borrower

LLC

6.75%,

05/15/2028

(g)

960‌

880‌

Five

Point

Operating

Co

LP

/

Five

Point

Capital

Corp

7.88%,

11/15/2025

(g)

496‌

469‌

Greystar

Real

Estate

Partners

LLC

5.75%,

12/01/2025

(g)

561‌

552‌

Howard

Hughes

Corp/The

4.13%,

02/01/2029

(g)

755‌

638‌

4.38%,

02/01/2031

(g)

933‌

768‌

5.38%,

08/01/2028

(g)

910‌

835‌

Hunt

Cos

Inc

5.25%,

04/15/2029

(g)

500‌

397‌

Kennedy-Wilson

Inc

4.75%,

03/01/2029

673‌

548‌

4.75%,

02/01/2030

660‌

515‌

5.00%,

03/01/2031

888‌

688‌

Realogy

Group

LLC

/

Realogy

Co-Issuer

Corp

5.25%,

04/15/2030

(g)

1,480‌

1,066‌

5.75%,

01/15/2029

(g)

1,125‌

832‌

$

8,188‌

REITs

-

1.67%

Apollo

Commercial

Real

Estate

Finance

Inc

4.63%,

06/15/2029

(g)

577‌

462‌

Blackstone

Mortgage

Trust

Inc

3.75%,

01/15/2027

(g)

1,251‌

1,076‌

Brookfield

Property

REIT

Inc

/

BPR

Cumulus

LLC

/

BPR

Nimbus

LLC

/

GGSI

Sellco

LL

4.50%,

04/01/2027

(g)

846‌

732‌

5.75%,

05/15/2026

(g)

850‌

797‌

CTR

Partnership

LP

/

CareTrust

Capital

Corp

3.88%,

06/30/2028

(g)

460‌

409‌

Diversified

Healthcare

Trust

4.38%,

03/01/2031

610‌

445‌

4.75%,

02/15/2028

530‌

388‌

9.75%,

06/15/2025

545‌

539‌

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.38%,

06/15/2026

(g)

2,905‌

2,624‌

3.75%,

09/15/2030

(g)

630‌

504‌

6.00%,

04/15/2025

(g)

430‌

423‌

Iron

Mountain

Inc

4.50%,

02/15/2031

(g)

1,927‌

1,661‌

4.88%,

09/15/2027

(g)

1,361‌

1,277‌

4.88%,

09/15/2029

(g)

1,540‌

1,389‌

5.00%,

07/15/2028

(g)

750‌

694‌

5.25%,

03/15/2028

(g)

1,248‌

1,171‌

5.25%,

07/15/2030

(g)

2,057‌

1,860‌

5.63%,

07/15/2032

(g)

1,044‌

941‌

7.00%,

02/15/2029

(g)

1,540‌

1,545‌

Iron

Mountain

Information

Management

Services

Inc

5.00%,

07/15/2032

(g)

1,310‌

1,134‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

93

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

REITs

(continued)

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp

4.25%,

02/01/2027

(g)

$

415‌

$

373‌

4.75%,

06/15/2029

(g)

619‌

522‌

5.25%,

10/01/2025

(g)

294‌

282‌

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

0.99%,

10/15/2026

EUR

6,400‌

5,442‌

3.50%,

03/15/2031

$

1,462‌

1,055‌

4.63%,

08/01/2029

1,040‌

826‌

5.00%,

10/15/2027

1,561‌

1,368‌

Necessity

Retail

REIT

Inc/The

/

American

Finance

Operating

Partner

LP

4.50%,

09/30/2028

(g)

455‌

353‌

Office

Properties

Income

Trust

2.40%,

02/01/2027

983‌

665‌

2.65%,

06/15/2026

810‌

602‌

3.45%,

10/15/2031

654‌

344‌

4.25%,

05/15/2024

572‌

538‌

4.50%,

02/01/2025

1,979‌

1,744‌

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co-Issuer

4.88%,

05/15/2029

(g)

1,020‌

891‌

5.88%,

10/01/2028

(g)

854‌

788‌

7.50%,

06/01/2025

(g)

625‌

628‌

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp

4.50%,

02/15/2029

(g)

600‌

535‌

4.75%,

10/15/2027

795‌

748‌

7.25%,

07/15/2028

(g)

688‌

698‌

Rithm

Capital

Corp

6.25%,

10/15/2025

(g)

620‌

590‌

RLJ

Lodging

Trust

LP

3.75%,

07/01/2026

(g)

500‌

461‌

4.00%,

09/15/2029

(g)

823‌

690‌

SBA

Communications

Corp

3.13%,

02/01/2029

1,755‌

1,480‌

3.88%,

02/15/2027

1,635‌

1,506‌

Service

Properties

Trust

3.95%,

01/15/2028

225‌

176‌

4.35%,

10/01/2024

918‌

881‌

4.38%,

02/15/2030

220‌

164‌

4.50%,

03/15/2025

645‌

608‌

4.75%,

10/01/2026

510‌

446‌

4.95%,

02/15/2027

615‌

527‌

5.25%,

02/15/2026

650‌

593‌

5.50%,

12/15/2027

851‌

747‌

7.50%,

09/15/2025

896‌

886‌

Starwood

Property

Trust

Inc

3.63%,

07/15/2026

(g)

374‌

331‌

3.75%,

12/31/2024

(g)

349‌

333‌

4.38%,

01/15/2027

(g)

540‌

479‌

4.75%,

03/15/2025

516‌

498‌

Uniti

Group

LP

/

Uniti

Fiber

Holdings

Inc

/

CSL

Capital

LLC

6.00%,

01/15/2030

(g)

699‌

462‌

Uniti

Group

LP

/

Uniti

Group

Finance

Inc

/

CSL

Capital

LLC

4.75%,

04/15/2028

(g)

200‌

167‌

6.50%,

02/15/2029

(g)

1,165‌

810‌

10.50%,

02/15/2028

(g)

1,397‌

1,389‌

XHR

LP

4.88%,

06/01/2029

(g)

890‌

774‌

6.38%,

08/15/2025

(g)

505‌

496‌

$

53,967‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Retail

-

5.06%

1011778

BC

ULC

/

New

Red

Finance

Inc

3.50%,

02/15/2029

(g)

$

948‌

$

833‌

3.88%,

01/15/2028

(g)

1,583‌

1,450‌

4.00%,

10/15/2030

(g)

22,957‌

19,728‌

4.38%,

01/15/2028

(g)

655‌

605‌

5.75%,

04/15/2025

(g)

370‌

368‌

99

Escrow

Issuer

Inc

7.50%,

01/15/2026

(g)

460‌

178‌

Abercrombie

&

Fitch

Management

Co

8.75%,

07/15/2025

(g)

410‌

416‌

Academy

Ltd

6.00%,

11/15/2027

(g)

535‌

517‌

Arko

Corp

5.13%,

11/15/2029

(g)

415‌

345‌

Asbury

Automotive

Group

Inc

4.50%,

03/01/2028

500‌

458‌

4.63%,

11/15/2029

(g)

874‌

773‌

4.75%,

03/01/2030

662‌

585‌

5.00%,

02/15/2032

(g)

957‌

834‌

At

Home

Group

Inc

4.88%,

07/15/2028

(g)

355‌

201‌

7.13%,

07/15/2029

(g)

580‌

348‌

Bath

&

Body

Works

Inc

5.25%,

02/01/2028

611‌

582‌

6.63%,

10/01/2030

(g)

1,520‌

1,469‌

6.69%,

01/15/2027

300‌

301‌

6.75%,

07/01/2036

700‌

637‌

6.88%,

11/01/2035

1,349‌

1,252‌

6.95%,

03/01/2033

590‌

534‌

7.50%,

06/15/2029

(f)

763‌

773‌

7.60%,

07/15/2037

717‌

638‌

9.38%,

07/01/2025

(g)

409‌

432‌

BCPE

Ulysses

Intermediate

Inc

7.75%,

PIK

8.50%;

04/01/2027

(g),(h),(i)

630‌

571‌

Beacon

Roofing

Supply

Inc

4.13%,

05/15/2029

(g)

578‌

511‌

4.50%,

11/15/2026

(f),(g)

401‌

382‌

6.50%,

08/01/2030

(g)

1,000‌

1,002‌

Bloomin'

Brands

Inc

/

OSI

Restaurant

Partners

LLC

5.13%,

04/15/2029

(g)

345‌

313‌

BlueLinx

Holdings

Inc

6.00%,

11/15/2029

(g)

205‌

184‌

Brinker

International

Inc

5.00%,

10/01/2024

(g)

235‌

232‌

8.25%,

07/15/2030

(g)

2,458‌

2,471‌

Carrols

Restaurant

Group

Inc

5.88%,

07/01/2029

(g)

300‌

253‌

Carvana

Co

4.88%,

09/01/2029

(g)

1,107‌

686‌

5.50%,

04/15/2027

(g)

770‌

564‌

5.88%,

10/01/2028

(g)

500‌

303‌

10.25%,

05/01/2030

(g)

3,750‌

3,052‌

CEC

Entertainment

LLC

6.75%,

05/01/2026

(g)

740‌

712‌

Dave

&

Buster's

Inc

7.63%,

11/01/2025

(g)

240‌

242‌

eG

Global

Finance

PLC

6.75%,

02/07/2025

(g)

758‌

747‌

8.50%,

10/30/2025

(g)

585‌

579‌

Evergreen

Acqco

1

LP

/

TVI

Inc

9.75%,

04/26/2028

(g)

589‌

614‌

Ferrellgas

LP

/

Ferrellgas

Finance

Corp

5.38%,

04/01/2026

(g)

636‌

599‌

5.88%,

04/01/2029

(g)

911‌

783‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

94

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Retail

(continued)

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co

Inc

4.63%,

01/15/2029

(g)

$

1,064‌

$

928‌

6.75%,

01/15/2030

(g)

1,365‌

1,171‌

FirstCash

Inc

4.63%,

09/01/2028

(g)

715‌

638‌

5.63%,

01/01/2030

(g)

636‌

587‌

Foot

Locker

Inc

4.00%,

10/01/2029

(g)

485‌

377‌

Foundation

Building

Materials

Inc

6.00%,

03/01/2029

(g)

642‌

556‌

Gap

Inc/The

3.63%,

10/01/2029

(g)

1,151‌

858‌

3.88%,

10/01/2031

(g)

600‌

429‌

GPS

Hospitality

Holding

Co

LLC

/

GPS

Finco

Inc

7.00%,

08/15/2028

(g)

420‌

276‌

Group

1

Automotive

Inc

4.00%,

08/15/2028

(g)

1,100‌

974‌

Guitar

Center

Inc

8.50%,

01/15/2026

(g)

595‌

547‌

IRB

Holding

Corp

7.00%,

06/15/2025

(g)

8,722‌

8,765‌

Ken

Garff

Automotive

LLC

4.88%,

09/15/2028

(g)

330‌

289‌

KFC

Holding

Co/Pizza

Hut

Holdings

LLC/Taco

Bell

of

America

LLC

4.75%,

06/01/2027

(g)

824‌

796‌

Kohl's

Corp

4.25%,

07/17/2025

(f)

1,177‌

1,103‌

4.62%,

05/01/2031

(f)

1,900‌

1,403‌

5.55%,

07/17/2045

1,479‌

949‌

LBM

Acquisition

LLC

6.25%,

01/15/2029

(g)

5,313‌

4,581‌

LCM

Investments

Holdings

II

LLC

4.88%,

05/01/2029

(g)

780‌

681‌

8.25%,

08/01/2031

(f),(g)

3,650‌

3,708‌

Lithia

Motors

Inc

3.88%,

06/01/2029

(g)

1,060‌

913‌

4.38%,

01/15/2031

(g)

884‌

760‌

4.63%,

12/15/2027

(g)

586‌

542‌

LSF9

Atlantis

Holdings

LLC

/

Victra

Finance

Corp

7.75%,

02/15/2026

(g)

14,125‌

13,243‌

Macy's

Retail

Holdings

LLC

4.30%,

02/15/2043

265‌

164‌

4.50%,

12/15/2034

200‌

146‌

5.13%,

01/15/2042

379‌

262‌

5.88%,

04/01/2029

(f),(g)

800‌

743‌

5.88%,

03/15/2030

(g)

1,285‌

1,160‌

6.38%,

03/15/2037

670‌

517‌

Marks

&

Spencer

PLC

7.13%,

12/01/2037

(g)

200‌

187‌

Michaels

Cos

Inc/The

5.25%,

05/01/2028

(f),(g)

835‌

710‌

7.88%,

05/01/2029

(g)

1,541‌

1,098‌

Murphy

Oil

USA

Inc

3.75%,

02/15/2031

(g)

540‌

458‌

4.75%,

09/15/2029

832‌

763‌

5.63%,

05/01/2027

626‌

609‌

NMG

Holding

Co

Inc

/

Neiman

Marcus

Group

LLC

7.13%,

04/01/2026

(g)

1,500‌

1,402‌

Nordstrom

Inc

4.00%,

03/15/2027

(f)

400‌

363‌

4.25%,

08/01/2031

960‌

757‌

4.38%,

04/01/2030

(f)

1,062‌

896‌

5.00%,

01/15/2044

1,175‌

801‌

6.95%,

03/15/2028

(f)

675‌

669‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Retail

(continued)

Papa

John's

International

Inc

3.88%,

09/15/2029

(g)

$

585‌

$

500‌

Park

River

Holdings

Inc

5.63%,

02/01/2029

(g)

421‌

337‌

6.75%,

08/01/2029

(g)

4,175‌

3,382‌

Patrick

Industries

Inc

4.75%,

05/01/2029

(g)

840‌

725‌

7.50%,

10/15/2027

(g)

435‌

427‌

Penske

Automotive

Group

Inc

3.75%,

06/15/2029

500‌

432‌

PetSmart

Inc

/

PetSmart

Finance

Corp

4.75%,

02/15/2028

(g)

1,080‌

990‌

7.75%,

02/15/2029

(g)

1,637‌

1,597‌

QVC

Inc

4.38%,

09/01/2028

1,021‌

580‌

4.45%,

02/15/2025

920‌

783‌

4.75%,

02/15/2027

595‌

385‌

4.85%,

04/01/2024

910‌

864‌

5.45%,

08/15/2034

450‌

221‌

5.95%,

03/15/2043

310‌

153‌

Rite

Aid

Corp

7.50%,

07/01/2025

(g)

305‌

180‌

7.70%,

02/15/2027

22‌

5‌

8.00%,

11/15/2026

(g)

889‌

444‌

Sally

Holdings

LLC

/

Sally

Capital

Inc

5.63%,

12/01/2025

300‌

298‌

Sizzling

Platter

LLC

/

Sizzling

Platter

Finance

Corp

8.50%,

11/28/2025

(g)

215‌

212‌

Sonic

Automotive

Inc

4.63%,

11/15/2029

(g)

3,075‌

2,634‌

4.88%,

11/15/2031

(g)

587‌

487‌

Specialty

Building

Products

Holdings

LLC

/

SBP

Finance

Corp

6.38%,

09/30/2026

(g)

15,992‌

15,220‌

SRS

Distribution

Inc

4.63%,

07/01/2028

(g)

625‌

566‌

6.00%,

12/01/2029

(g)

8,765‌

7,604‌

6.13%,

07/01/2029

(g)

525‌

461‌

Staples

Inc

7.50%,

04/15/2026

(g)

2,292‌

1,894‌

10.75%,

04/15/2027

(g)

1,185‌

678‌

Suburban

Propane

Partners

LP/Suburban

Energy

Finance

Corp

5.00%,

06/01/2031

(g)

6,047‌

5,160‌

5.88%,

03/01/2027

308‌

301‌

Superior

Plus

LP

/

Superior

General

Partner

Inc

4.50%,

03/15/2029

(g)

690‌

606‌

TPro

Acquisition

Corp

11.00%,

10/15/2024

(g)

25‌

25‌

Victoria's

Secret

&

Co

4.63%,

07/15/2029

(g)

925‌

694‌

White

Cap

Buyer

LLC

6.88%,

10/15/2028

(g)

3,520‌

3,171‌

Yum!

Brands

Inc

3.63%,

03/15/2031

1,279‌

1,096‌

4.63%,

01/31/2032

1,540‌

1,395‌

4.75%,

01/15/2030

(g)

1,410‌

1,315‌

5.35%,

11/01/2043

408‌

366‌

5.38%,

04/01/2032

1,370‌

1,297‌

6.88%,

11/15/2037

300‌

321‌

$

163,642‌

Semiconductors

-

0.13%

Amkor

Technology

Inc

6.63%,

09/15/2027

(g)

500‌

501‌

ams-OSRAM

AG

7.00%,

07/31/2025

(g)

635‌

557‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

95

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Semiconductors

(continued)

Entegris

Escrow

Corp

5.95%,

06/15/2030

(g)

$

900‌

$

863‌

Entegris

Inc

3.63%,

05/01/2029

(f),(g)

603‌

522‌

4.38%,

04/15/2028

(g)

880‌

801‌

ON

Semiconductor

Corp

3.88%,

09/01/2028

(g)

710‌

643‌

Synaptics

Inc

4.00%,

06/15/2029

(g)

285‌

245‌

$

4,132‌

Software

-

3.30%

ACI

Worldwide

Inc

5.75%,

08/15/2026

(g)

3,540‌

3,490‌

Alteryx

Inc

8.75%,

03/15/2028

(f),(g)

615‌

598‌

AthenaHealth

Group

Inc

6.50%,

02/15/2030

(g)

2,780‌

2,356‌

Black

Knight

InfoServ

LLC

3.63%,

09/01/2028

(g)

1,315‌

1,203‌

Boxer

Parent

Co

Inc

7.13%,

10/02/2025

(g)

920‌

925‌

9.13%,

03/01/2026

(g)

950‌

950‌

Camelot

Finance

SA

4.50%,

11/01/2026

(g)

705‌

665‌

Capstone

Borrower

Inc

8.00%,

06/15/2030

(f),(g)

7,325‌

7,252‌

Castle

US

Holding

Corp

9.50%,

02/15/2028

(g)

325‌

184‌

Central

Parent

Inc

/

CDK

Global

Inc

7.25%,

06/15/2029

(g)

1,040‌

1,029‌

Clarivate

Science

Holdings

Corp

3.88%,

07/01/2028

(g)

7,705‌

6,868‌

4.88%,

07/01/2029

(f),(g)

9,646‌

8,569‌

Cloud

Software

Group

Inc

6.50%,

03/31/2029

(g)

5,235‌

4,712‌

9.00%,

09/30/2029

(g)

4,449‌

3,985‌

Consensus

Cloud

Solutions

Inc

6.00%,

10/15/2026

(f),(g)

440‌

407‌

6.50%,

10/15/2028

(g)

272‌

235‌

CWT

Travel

Group

Inc

8.50%,

11/19/2026

(g)

7,495‌

3,598‌

Dun

&

Bradstreet

Corp/The

5.00%,

12/15/2029

(f),(g)

460‌

405‌

Elastic

NV

4.13%,

07/15/2029

(g)

670‌

581‌

Fair

Isaac

Corp

4.00%,

06/15/2028

(g)

1,262‌

1,158‌

5.25%,

05/15/2026

(g)

495‌

486‌

Helios

Software

Holdings

Inc

/

ION

Corporate

Solutions

Finance

Sarl

4.63%,

05/01/2028

(g)

520‌

450‌

MicroStrategy

Inc

6.13%,

06/15/2028

(g)

300‌

269‌

Open

Text

Corp

3.88%,

02/15/2028

(g)

1,635‌

1,454‌

3.88%,

12/01/2029

(g)

1,270‌

1,074‌

Open

Text

Holdings

Inc

4.13%,

02/15/2030

(g)

1,535‌

1,316‌

4.13%,

12/01/2031

(g)

845‌

700‌

Playtika

Holding

Corp

4.25%,

03/15/2029

(g)

13,748‌

12,133‌

PTC

Inc

3.63%,

02/15/2025

(g)

585‌

565‌

4.00%,

02/15/2028

(g)

511‌

469‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

Rackspace

Technology

Global

Inc

3.50%,

02/15/2028

(g)

$

715‌

$

320‌

5.38%,

12/01/2028

(g)

331‌

92‌

ROBLOX

Corp

3.88%,

05/01/2030

(g)

750‌

630‌

Rocket

Software

Inc

6.50%,

02/15/2029

(g)

620‌

530‌

RRD

Parent

Inc

10.00%,

PIK

10.00%;

10/15/2031

(g),(h),(i)

825‌

1,394‌

SS&C

Technologies

Inc

5.50%,

09/30/2027

(g)

19,140‌

18,491‌

Twilio

Inc

3.63%,

03/15/2029

336‌

288‌

3.88%,

03/15/2031

(f)

6,682‌

5,661‌

Veritas

US

Inc

/

Veritas

Bermuda

Ltd

7.50%,

09/01/2025

(g)

2,580‌

2,115‌

West

Technology

Group

LLC

8.50%,

10/15/2025

(g)

776‌

700‌

ZoomInfo

Technologies

LLC/ZoomInfo

Finance

Corp

3.88%,

02/01/2029

(g)

9,640‌

8,280‌

$

106,587‌

Telecommunications

-

3.52%

Altice

France

Holding

SA

6.00%,

02/15/2028

(g)

1,300‌

484‌

10.50%,

05/15/2027

(g)

2,050‌

867‌

Altice

France

SA/France

5.13%,

01/15/2029

(g)

1,388‌

967‌

5.13%,

07/15/2029

(g)

2,641‌

1,850‌

5.50%,

01/15/2028

(g)

1,135‌

833‌

5.50%,

10/15/2029

(g)

1,900‌

1,349‌

8.13%,

02/01/2027

(g)

1,845‌

1,509‌

British

Telecommunications

PLC

4.25%,

11/23/2081

(g),(j)

900‌

797‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.99%

4.88%,

11/23/2081

(g),(j)

1,020‌

836‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.49%

Ciena

Corp

4.00%,

01/31/2030

(g)

300‌

263‌

CommScope

Inc

4.75%,

09/01/2029

(g)

8,489‌

6,540‌

6.00%,

03/01/2026

(g)

925‌

849‌

7.13%,

07/01/2028

(g)

1,675‌

1,105‌

8.25%,

03/01/2027

(g)

6,140‌

4,648‌

CommScope

Technologies

LLC

5.00%,

03/15/2027

(g)

1,060‌

707‌

6.00%,

06/15/2025

(g)

2,721‌

2,467‌

Connect

Finco

SARL

/

Connect

US

Finco

LLC

6.75%,

10/01/2026

(g)

2,595‌

2,488‌

Consolidated

Communications

Inc

5.00%,

10/01/2028

(g)

200‌

148‌

6.50%,

10/01/2028

(g)

500‌

392‌

Embarq

Corp

8.00%,

06/01/2036

1,828‌

1,033‌

Frontier

Communications

Holdings

LLC

5.00%,

05/01/2028

(g)

1,480‌

1,254‌

5.88%,

10/15/2027

(g)

1,360‌

1,246‌

5.88%,

11/01/2029

745‌

546‌

6.00%,

01/15/2030

(g)

1,185‌

861‌

6.75%,

05/01/2029

(g)

1,365‌

1,055‌

8.75%,

05/15/2030

(g)

1,306‌

1,260‌

Frontier

Florida

LLC

6.86%,

02/01/2028

740‌

681‌

Frontier

North

Inc

6.73%,

02/15/2028

100‌

93‌

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

96

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

GoTo

Group

Inc

5.50%,

09/01/2027

(g)

$

1,100‌

$

632‌

Hughes

Satellite

Systems

Corp

5.25%,

08/01/2026

1,140‌

1,060‌

6.63%,

08/01/2026

(f)

1,475‌

1,332‌

Iliad

Holding

SASU

6.50%,

10/15/2026

(g)

1,332‌

1,277‌

7.00%,

10/15/2028

(g)

5,325‌

4,999‌

Intelsat

Jackson

Holdings

SA

6.50%,

03/15/2030

(g)

3,241‌

2,961‌

Level

3

Financing

Inc

3.40%,

03/01/2027

(g)

1,159‌

1,022‌

3.63%,

01/15/2029

(g)

7,118‌

4,699‌

3.75%,

07/15/2029

(g)

4,465‌

2,928‌

3.88%,

11/15/2029

(g)

1,015‌

863‌

4.25%,

07/01/2028

(g)

3,859‌

2,731‌

4.63%,

09/15/2027

(g)

1,722‌

1,308‌

10.50%,

05/15/2030

(g)

1,140‌

1,181‌

Lumen

Technologies

Inc

4.00%,

02/15/2027

(g)

1,276‌

839‌

4.50%,

01/15/2029

(g)

1,000‌

410‌

7.60%,

09/15/2039

667‌

243‌

7.65%,

03/15/2042

580‌

213‌

Rogers

Communications

Inc

5.25%,

03/15/2082

(f),(g),(j)

673‌

621‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.59%

Telecom

Italia

Capital

SA

6.00%,

09/30/2034

1,114‌

901‌

6.38%,

11/15/2033

1,129‌

956‌

7.20%,

07/18/2036

972‌

835‌

7.72%,

06/04/2038

1,090‌

969‌

Telesat

Canada

/

Telesat

LLC

4.88%,

06/01/2027

(g)

424‌

249‌

5.63%,

12/06/2026

(f),(g)

789‌

473‌

6.50%,

10/15/2027

(g)

373‌

149‌

United

States

Cellular

Corp

6.70%,

12/15/2033

374‌

324‌

Viasat

Inc

5.63%,

09/15/2025

(g)

14,450‌

13,547‌

5.63%,

04/15/2027

(g)

2,562‌

2,308‌

6.50%,

07/15/2028

(g)

8,676‌

6,681‌

Viavi

Solutions

Inc

3.75%,

10/01/2029

(g)

614‌

527‌

Vmed

O2

UK

Financing

I

PLC

4.25%,

01/31/2031

(g)

1,665‌

1,379‌

4.75%,

07/15/2031

(g)

11,860‌

10,012‌

Vodafone

Group

PLC

3.25%,

06/04/2081

(j)

13‌

11‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.45%

4.13%,

06/04/2081

(j)

1,432‌

1,139‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.77%

5.13%,

06/04/2081

(j)

1,000‌

727‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.07%

7.00%,

04/04/2079

(j)

3,035‌

3,120‌

USD

Swap

Semi-Annual

5

Year

+

4.87%

Windstream

Escrow

LLC

/

Windstream

Escrow

Finance

Corp

7.75%,

08/15/2028

(g)

1,420‌

1,196‌

Zayo

Group

Holdings

Inc

4.00%,

03/01/2027

(g)

1,225‌

876‌

6.13%,

03/01/2028

(g)

1,535‌

946‌

$

113,772‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Transportation

-

0

.17%

Cargo

Aircraft

Management

Inc

4.75%,

02/01/2028

(g)

$

645‌

$

574‌

Danaos

Corp

8.50%,

03/01/2028

(g)

590‌

596‌

First

Student

Bidco

Inc

/

First

Transit

Parent

Inc

4.00%,

07/31/2029

(g)

720‌

610‌

Rand

Parent

LLC

8.50%,

02/15/2030

(f),(g)

1,187‌

1,116‌

Seaspan

Corp

5.50%,

08/01/2029

(g)

788‌

642‌

Watco

Cos

LLC

/

Watco

Finance

Corp

6.50%,

06/15/2027

(g)

715‌

685‌

Western

Global

Airlines

LLC

10.38%,

08/15/2025

(g)

345‌

2‌

XPO

CNW

Inc

6.70%,

05/01/2034

838‌

828‌

XPO

Escrow

Sub

LLC

7.50%,

11/15/2027

(g)

300‌

310‌

$

5,363‌

Trucking

&

Leasing

-

0.11%

AerCap

Global

Aviation

Trust

6.50%,

06/15/2045

(g),(j)

400‌

391‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.56%

Fortress

Transportation

and

Infrastructure

Investors

LLC

5.50%,

05/01/2028

(g)

1,175‌

1,086‌

6.50%,

10/01/2025

(g)

886‌

878‌

9.75%,

08/01/2027

(g)

416‌

433‌

NAC

Aviation

29

DAC

4.75%,

06/30/2026

858‌

761‌

$

3,549‌

Water

-

0.01%

Solaris

Midstream

Holdings

LLC

7.63%,

04/01/2026

(g)

329‌

323‌

TOTAL

BONDS

$

2,811,928‌

SENIOR

FLOATING

RATE

INTERESTS

-

9.06%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

0.28%

ABG

Intermediate

Holdings

2

LLC

11.20%,

12/20/2029

(n)

$

1,910‌

$

1,857‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.00%

Clear

Channel

Outdoor

Holdings

Inc

8.78%,

08/07/2026

(n)

7,356‌

7,114‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.50%

$

8,971‌

Automobile

Parts

&

Equipment

-

0.40%

First

Brands

Group

LLC

10.25%,

03/24/2027

(n)

7,765‌

7,666‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

5.00%

14.13%,

03/24/2028

(n)

5,625‌

5,196‌

6

Month

USD

LIBOR

+

8.50%

$

12,862‌

Building

Materials

-

0.15%

CP

Iris

Holdco

I

Inc

12.20%,

09/15/2029

(n)

5,920‌

4,854‌

1

Month

USD

LIBOR

+

7.00%

Chemicals

-

0.20%

Aruba

Investments

Holdings

LLC

12.94%,

10/27/2028

(n)

7,275‌

6,547‌

1

Month

USD

LIBOR

+

7.75%

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

97

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

-

0.99%

KUEHG

Corp

10.24%,

05/22/2030

(n)

$

7,815‌

$

7,772‌

3

Month

USD

LIBOR

+

5.00%

Learning

Care

Group

US

No

2

Inc

8.87%,

03/13/2025

(n)

12,793‌

12,765‌

3

Month

USD

LIBOR

+

3.25%

12.89%,

03/13/2026

(n)

6,510‌

6,429‌

3

Month

USD

LIBOR

+

7.50%

13.92%,

03/13/2025

(n)

1,191‌

1,188‌

1

Month

USD

LIBOR

+

8.50%

RLG

Holdings

LLC

12.72%,

07/06/2029

(n)

4,310‌

3,960‌

1

Month

USD

LIBOR

+

7.50%

$

32,114‌

Consumer

Products

-

0.07%

VC

GB

Holdings

I

Corp

12.23%,

06/29/2029

(n)

2,670‌

2,336‌

3

Month

USD

LIBOR

+

6.75%

Distribution

&

Wholesale

-

0.16%

Infinite

Bidco

LLC

12.50%,

02/24/2029

(n)

5,910‌

5,024‌

3

Month

USD

LIBOR

+

7.00%

Engineering

&

Construction

-

0.34%

Brand

Industrial

Services

Inc

9.64%,

06/21/2024

(n)

11,066‌

11,032‌

3

Month

USD

LIBOR

+

4.25%

Entertainment

-

0.15%

NAI

Entertainment

Holdings

LLC

7.70%,

05/08/2025

(n)

5,231‌

4,865‌

3

Month

USD

LIBOR

+

2.50%

Food

-

0.05%

Quirch

Foods

Holdings

LLC

9.99%,

10/26/2027

(n)

1,513‌

1,476‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

Healthcare

-

Services

-

0.90%

Aveanna

Healthcare

LLC

12.48%,

12/09/2029

(n)

9,190‌

5,881‌

1

Month

USD

LIBOR

+

7.00%

Eyecare

Partners

LLC

9.84%,

11/15/2028

(n)

2,209‌

1,731‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

12.25%,

10/14/2029

(n)

5,540‌

3,130‌

3

Month

USD

LIBOR

+

6.75%

12.25%,

10/14/2029

(n)

1,975‌

1,116‌

3

Month

USD

LIBOR

+

6.75%

Medical

Solutions

Holdings

Inc

12.36%,

10/05/2029

(n)

5,510‌

4,890‌

1

Month

USD

LIBOR

+

7.00%

National

Mentor

Holdings

Inc

12.59%,

03/02/2029

(n)

3,475‌

1,737‌

3

Month

USD

LIBOR

+

7.25%

Sound

Inpatient

Physicians

Holdings

LLC

12.02%,

06/26/2026

(n)

4,875‌

1,219‌

1

Month

USD

LIBOR

+

6.75%

Surgery

Center

Holdings

Inc

9.12%,

09/03/2026

(n)

9,390‌

9,386‌

1

Month

USD

LIBOR

+

3.75%

$

29,090‌

Home

Builders

-

0.18%

Tecta

America

Corp

13.72%,

04/09/2029

(n)

6,350‌

5,940‌

1

Month

USD

LIBOR

+

8.50%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

-

1.16%

Asurion

LLC

9.45%,

08/18/2028

(n)

$

4,829‌

$

4,624‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.25%

10.44%,

01/20/2029

(n)

9,601‌

8,368‌

1

Month

USD

LIBOR

+

5.25%

10.44%,

01/20/2029

(n)

12,025‌

10,480‌

1

Month

USD

LIBOR

+

5.25%

10.47%,

01/31/2028

(n)

15,800‌

14,000‌

1

Month

USD

LIBOR

+

5.25%

$

37,472‌

Internet

-

0.78%

CNT

Holdings

I

Corp

12.05%,

11/06/2028

(n)

7,739‌

7,584‌

1

Month

USD

LIBOR

+

6.75%

MH

Sub

I

LLC

11.35%,

02/12/2029

(n)

10,480‌

9,075‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.25%

Ten-X

LLC

10.38%,

05/26/2028

(n)

9,036‌

8,562‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.00%

$

25,221‌

Investment

Companies

-

0.50%

Nexus

Buyer

LLC

11.45%,

11/05/2029

(n)

1,560‌

1,404‌

1

Month

USD

LIBOR

+

6.25%

11.45%,

11/05/2029

(n)

16,395‌

14,755‌

1

Month

USD

LIBOR

+

6.25%

$

16,159‌

Machinery

-

Diversified

-

0.56%

Engineered

Machinery

Holdings

Inc

11.54%,

05/21/2029

(n)

17,631‌

16,661‌

3

Month

USD

LIBOR

+

6.00%

12.04%,

05/04/2029

(n)

1,610‌

1,522‌

3

Month

USD

LIBOR

+

6.50%

$

18,183‌

Mining

-

0.11%

Artic

Canadian

Diamond

Co

Ltd

10.00%,

12/31/2027

(e),(n)

3,592‌

3,592‌

1

Month

USD

LIBOR

+

5.00%

Pharmaceuticals

-

0.10%

Packaging

Coordinators

Midco

Inc

9.00%,

11/30/2027

(n)

3,351‌

3,320‌

3

Month

USD

LIBOR

+

3.75%

Semiconductors

-

0.09%

Altar

Bidco

Inc

10.49%,

02/01/2030

(n)

3,040‌

2,772‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

5.60%

Software

-

1.62%

Applied

Systems

Inc

11.99%,

09/19/2027

(n)

14,341‌

14,341‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

6.75%

Ascend

Learning

LLC

10.95%,

12/10/2029

(n)

1,050‌

894‌

1

Month

USD

LIBOR

+

5.75%

AthenaHealth

Group

Inc

8.81%,

02/15/2029

(n)

4,538‌

4,398‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Cloudera

Inc

11.42%,

10/08/2029

(n)

1,790‌

1,670‌

1

Month

USD

LIBOR

+

6.00%

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

98

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

Loyalty

Ventures

Inc

0.00%,

11/03/2027

(d),(n)

$

3,294‌

$

329‌

1

Month

USD

LIBOR

+

4.50%

Mitchell

International

Inc

11.69%,

10/15/2029

(n)

5,150‌

4,596‌

3

Month

USD

LIBOR

+

6.50%

Skopima

Consilio

Parent

LLC

12.69%,

05/14/2029

(n)

4,920‌

4,453‌

1

Month

USD

LIBOR

+

7.50%

UKG

Inc

10.62%,

05/03/2027

(n)

6,020‌

5,934‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

5.25%

10.62%,

05/03/2027

(n)

16,125‌

15,893‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

5.25%

$

52,508‌

Telecommunications

-

0.09%

Xplornet

Communications

Inc

12.22%,

09/30/2029

(n)

6,100‌

2,913‌

1

Month

USD

LIBOR

+

7.00%

Transportation

-

0.18%

ASP

LS

Acquisition

Corp

12.69%,

04/30/2029

(n)

7,320‌

5,636‌

6

Month

USD

LIBOR

+

7.50%

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

292,887‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

1.17%

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

Bill

-

1.17%

5.08%,

08/22/2023

(o)

$

5,000‌

$

4,985‌

5.20%,

09/05/2023

(o)

19,650‌

19,550‌

5.21%,

08/03/2023

(o)

8,575‌

8,572‌

5.23%,

09/14/2023

(o)

4,725‌

4,695‌

$

37,802‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

37,802‌

Total

Investments

$

3,342,244‌

Other

Assets

and

Liabilities

-  (3.37)%

(109,104‌)

TOTAL

NET

ASSETS

-

100.00%

$

3,233,140‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$127,924

or

3.96%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$123,131

or

3.81%

of

net

assets.

(g)

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

$2,279,146

or

70.49%

of

net

assets.

(h)

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.

(i)

Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(j)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(k)

Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

(l)

Security

purchased

on

a

when-issued

basis.

(m)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(n)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(o)

Rate

shown

is

the

discount

rate

of

the

original

purchase.

Portfolio

Summary

Sector

Percent

Consumer,

Cyclical

21.64‌%

Financial

14

.15‌%

Consumer,

Non-cyclical

13.95‌%

Communications

12.73‌%

Industrial

11.87‌%

Energy

10.21‌%

Technology

6.06‌%

Money

Market

Funds

5.65‌%

Basic

Materials

4.78‌%

Government

1.17‌%

Utilities

1.11‌%

Diversified

0.05‌%

Other

Assets

and

Liabilities

(3.37‌)%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

1,110,989‌

$

968,541‌

$

142,448‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

66,206‌

236,293‌

302,499‌

—‌

$

66,206‌

$

1,347,282‌

$

1,271,040‌

$

142,448‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

1,658‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

195‌

—‌

—‌

—‌

$

1,853‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

High

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

99

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

High

Ridge

Brands

-

Escrow  

0.00%,

03/15/2025

12/29/2020

$

4,576‌

$

—‌

0.00%

Specialty

Steel  

15.53%,

11/15/2026

06/04/2021

8,680‌

8,680‌

0.27%

SportsNet

New

York  

10.25%,

01/15/2025

12/27/2017

4,068‌

3,996‌

0.12%

Total

$

12,676‌

0.39%

Amounts

in

thousands.

Foreign

Currency

Contracts

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Bank

of

New

York

Mellon

09/18/2023

$

9,259‌

EUR

8,343‌

$

66‌

$

(1‌)

Total

$

66‌

$

(1‌)

Amounts

in

thousands.

Schedule

of

Investments

High

Yield

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

100

INVESTMENT

COMPANIES

-

6

.00

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

6

.00

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

5,846,219‌

$

5,846‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b),(c)

137,953,644‌

137,954‌

$

143,800‌

TOTAL

INVESTMENT

COMPANIES

$

143,800‌

COMMON

STOCKS

-

0

.10

%

Shares

Held

Value

(000's)

Diversified

Financial

Services

-

0

.00

%

Avation

PLC

-

Warrants

(d)

103,250‌

$

—‌

Oil

&

Gas

-

0

.04

%

Mesquite

Energy

Inc

(d),(e)

15,341‌

1,087‌

Retail

-

0

.06

%

Claire's

Holdings

LLC

(d)

4,036‌

1,362‌

TOTAL

COMMON

STOCKS

$

2,449‌

BONDS

-

85

.27

%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

2

.01

%

Bombardier

Inc

7.13%,

06/15/2026

(f)

$

7,890‌

$

7,828‌

7.50%,

02/01/2029

(f)

2,415‌

2,393‌

TransDigm

Inc

4.88%,

05/01/2029

(g)

2,980‌

2,681‌

6.25%,

03/15/2026

(f)

12,880‌

12,811‌

6.38%,

06/15/2026

3,495‌

3,459‌

7.50%,

03/15/2027

3,875‌

3,873‌

Triumph

Group

Inc

7.75%,

08/15/2025

11,930‌

11,520‌

9.00%,

03/15/2028

(f)

3,605‌

3,703‌

$

48,268‌

Airlines

-

0

.74

%

American

Airlines

2021-1

Class

B

Pass

Through

Trust

3.95%,

01/11/2032

2,853‌

2,469‌

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.75%,

04/20/2029

(f)

1,525‌

1,476‌

Hawaiian

Brand

Intellectual

Property

Ltd

/

HawaiianMiles

Loyalty

Ltd

5.75%,

01/20/2026

(f)

11,525‌

10,879‌

United

Airlines

2016-1

Class

B

Pass

Through

Trust

3.65%,

07/07/2027

3,256‌

2,997‌

$

17,821‌

Automobile

Manufacturers

-

1

.94

%

Ford

Motor

Co

3.25%,

02/12/2032

20,550‌

16,247‌

4.75%,

01/15/2043

3,650‌

2,856‌

9.63%,

04/22/2030

1,225‌

1,430‌

Ford

Motor

Credit

Co

LLC

2.70%,

08/10/2026

3,455‌

3,097‌

3.38%,

11/13/2025

4,735‌

4,427‌

4.39%,

01/08/2026

8,720‌

8,287‌

4.54%,

08/01/2026

9,495‌

8,973‌

Jaguar

Land

Rover

Automotive

PLC

7.75%,

10/15/2025

(f)

1,079‌

1,092‌

$

46,409‌

Automobile

Parts

&

Equipment

-

1

.30

%

American

Axle

&

Manufacturing

Inc

6.25%,

03/15/2026

2,239‌

2,183‌

6.88%,

07/01/2028

(g)

9,835‌

9,304‌

Dana

Inc

4.25%,

09/01/2030

6,930‌

5,922‌

4.50%,

02/15/2032

1,810‌

1,509‌

5.38%,

11/15/2027

6,615‌

6,335‌

5.63%,

06/15/2028

(g)

3,465‌

3,289‌

ZF

North

America

Capital

Inc

6.88%,

04/14/2028

(f)

2,550‌

2,590‌

$

31,132‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

-

1

.16

%

Barclays

PLC

5.09%,

06/20/2030

(h)

$

5,330‌

$

4,939‌

3

Month

USD

LIBOR

+

3.05%

7.75%,

09/15/2023

(h),(i),(j)

6,795‌

6,773‌

USD

Swap

Semi-Annual

5

Year

+

4.84%

8.00%,

03/15/2029

(h),(i),(j)

5,535‌

5,147‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.43%

JPMorgan

Chase

&

Co

4.60%,

02/01/2025

(h),(i)

11,640‌

11,000‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.13%

$

27,859‌

Building

Materials

-

1

.45

%

Builders

FirstSource

Inc

4.25%,

02/01/2032

(f)

3,610‌

3,132‌

5.00%,

03/01/2030

(f)

4,065‌

3,800‌

Griffon

Corp

5.75%,

03/01/2028

4,885‌

4,598‌

MIWD

Holdco

II

LLC

/

MIWD

Finance

Corp

5.50%,

02/01/2030

(f)

1,900‌

1,606‌

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(f)

22,610‌

21,552‌

$

34,688‌

Chemicals

-

2

.75

%

Consolidated

Energy

Finance

SA

5.63%,

10/15/2028

(f)

9,180‌

7,925‌

6.50%,

05/15/2026

(f)

8,390‌

7,952‌

Element

Solutions

Inc

3.88%,

09/01/2028

(f)

11,343‌

10,025‌

Kobe

US

Midco

2

Inc

9.25%,

PIK

10.00%;

11/01/2026

(f),(k),(l)

2,790‌

1,953‌

Olympus

Water

US

Holding

Corp

4.25%,

10/01/2028

(f)

600‌

481‌

6.25%,

10/01/2029

(f)

17,680‌

13,032‌

7.13%,

10/01/2027

(f)

1,945‌

1,771‌

9.75%,

11/15/2028

(f)

7,685‌

7,435‌

Tronox

Inc

4.63%,

03/15/2029

(f)

9,985‌

8,277‌

Vibrantz

Technologies

Inc

9.00%,

02/15/2030

(f)

8,580‌

7,003‌

$

65,854‌

Commercial

Services

-

3

.17

%

ADT

Security

Corp/The

4.13%,

08/01/2029

(f)

5,865‌

5,088‌

Albion

Financing

1

SARL

/

Aggreko

Holdings

Inc

6.13%,

10/15/2026

(f)

2,300‌

2,168‌

Albion

Financing

2SARL

8.75%,

04/15/2027

(f)

8,965‌

8,306‌

Garda

World

Security

Corp

6.00%,

06/01/2029

(f)

6,730‌

5,600‌

9.50%,

11/01/2027

(f)

6,486‌

6,349‌

Prime

Security

Services

Borrower

LLC

/

Prime

Finance

Inc

3.38%,

08/31/2027

(f)

3,240‌

2,860‌

6.25%,

01/15/2028

(f)

10,260‌

9,659‌

United

Rentals

North

America

Inc

3.88%,

02/15/2031

5,775‌

4,978‌

4.88%,

01/15/2028

2,815‌

2,686‌

5.25%,

01/15/2030

1,775‌

1,691‌

WASH

Multifamily

Acquisition

Inc

5.75%,

04/15/2026

(f)

11,695‌

10,881‌

Williams

Scotsman

International

Inc

4.63%,

08/15/2028

(f)

2,180‌

2,005‌

6.13%,

06/15/2025

(f)

3,890‌

3,865‌

Schedule

of

Investments

High

Yield

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

101

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

ZipRecruiter

Inc

5.00%,

01/15/2030

(f)

$

11,631‌

$

9,915‌

$

76,051‌

Computers

-

1

.82

%

NCR

Corp

5.13%,

04/15/2029

(f)

21,160‌

18,922‌

Seagate

HDD

Cayman

5.75%,

12/01/2034

(g)

5,870‌

5,206‌

8.50%,

07/15/2031

(f)

2,380‌

2,485‌

9.63%,

12/01/2032

(f)

7,945‌

8,796‌

Virtusa

Corp

7.13%,

12/15/2028

(f)

9,857‌

8,257‌

$

43,666‌

Consumer

Products

-

0

.78

%

ACCO

Brands

Corp

4.25%,

03/15/2029

(f)

8,175‌

6,975‌

Kronos

Acquisition

Holdings

Inc

/

KIK

Custom

Products

Inc

5.00%,

12/31/2026

(f)

12,596‌

11,714‌

$

18,689‌

Distribution

&

Wholesale

-

0

.25

%

H&E

Equipment

Services

Inc

3.88%,

12/15/2028

(f)

6,805‌

5,979‌

Diversified

Financial

Services

-

3

.04

%

AerCap

Holdings

NV

5.88%,

10/10/2079

(g),(h)

11,870‌

11,474‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.54%

Credit

Acceptance

Corp

5.13%,

12/31/2024

(f)

7,105‌

6,962‌

6.63%,

03/15/2026

(g)

4,620‌

4,534‌

Global

Aircraft

Leasing

Co

Ltd

6.50%,

PIK

7.25%;

09/15/2024

(f),(k),(l)

12,628‌

11,900‌

LPL

Holdings

Inc

4.00%,

03/15/2029

(f)

1,160‌

1,040‌

Macquarie

Airfinance

Holdings

Ltd

8.38%,

05/01/2028

(f)

11,370‌

11,577‌

OneMain

Finance

Corp

3.50%,

01/15/2027

3,966‌

3,429‌

4.00%,

09/15/2030

6,460‌

5,075‌

6.63%,

01/15/2028

(g)

2,475‌

2,347‌

6.88%,

03/15/2025

11,790‌

11,751‌

SLM

Corp

3.13%,

11/02/2026

3,300‌

2,904‌

$

72,993‌

Electric

-

2

.72

%

Clearway

Energy

Operating

LLC

3.75%,

02/15/2031

(f)

20,670‌

17,131‌

Elwood

Energy

LLC

8.16%,

07/05/2026

1,615‌

1,383‌

NRG

Energy

Inc

3.88%,

02/15/2032

(f)

25,420‌

19,671‌

10.25%,

03/15/2028

(f),(h),(i)

3,685‌

3,571‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.92%

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations

Inc

4.50%,

08/15/2028

(f)

6,210‌

5,643‌

Vistra

Corp

7.00%,

12/15/2026

(f),(h),(i)

8,619‌

7,671‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.74%

Vistra

Operations

Co

LLC

4.38%,

05/01/2029

(f)

11,405‌

10,067‌

$

65,137‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electrical

Components

&

Equipment

-

0

.26

%

WESCO

Distribution

Inc

7.25%,

06/15/2028

(f)

$

6,165‌

$

6,287‌

Electronics

-

1

.44

%

Imola

Merger

Corp

4.75%,

05/15/2029

(f)

13,133‌

11,531‌

Sensata

Technologies

BV

4.00%,

04/15/2029

(f)

15,550‌

13,741‌

5.00%,

10/01/2025

(f)

1,905‌

1,857‌

Sensata

Technologies

Inc

3.75%,

02/15/2031

(f)

6,126‌

5,174‌

4.38%,

02/15/2030

(f)

2,440‌

2,170‌

$

34,473‌

Engineering

&

Construction

-

0

.48

%

Global

Infrastructure

Solutions

Inc

5.63%,

06/01/2029

(f)

13,742‌

11,571‌

Entertainment

-

3

.93

%

Allwyn

Entertainment

Financing

UK

PLC

7.88%,

04/30/2029

(f)

9,120‌

9,301‌

Boyne

USA

Inc

4.75%,

05/15/2029

(f)

13,360‌

12,199‌

Caesars

Entertainment

Inc

6.25%,

07/01/2025

(f)

2,870‌

2,854‌

8.13%,

07/01/2027

(f),(g)

11,770‌

12,072‌

CCM

Merger

Inc

6.38%,

05/01/2026

(f)

10,835‌

10,556‌

CDI

Escrow

Issuer

Inc

5.75%,

04/01/2030

(f)

14,690‌

13,643‌

Cinemark

USA

Inc

5.25%,

07/15/2028

(f)

14,295‌

12,504‌

International

Game

Technology

PLC

5.25%,

01/15/2029

(f)

13,510‌

12,835‌

Lions

Gate

Capital

Holdings

LLC

5.50%,

04/15/2029

(f)

11,950‌

8,176‌

$

94,140‌

Environmental

Control

-

0

.40

%

Madison

IAQ

LLC

4.13%,

06/30/2028

(f)

10,855‌

9,666‌

Food

-

3

.19

%

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

3.50%,

03/15/2029

(f)

5,255‌

4,575‌

4.63%,

01/15/2027

(f)

8,625‌

8,173‌

B&G

Foods

Inc

5.25%,

04/01/2025

7,350‌

7,002‌

Chobani

LLC

/

Chobani

Finance

Corp

Inc

4.63%,

11/15/2028

(f)

6,445‌

5,865‌

7.50%,

04/15/2025

(f)

5,786‌

5,772‌

JBS

USA

LUX

SA

/

JBS

USA

Food

Co

/

JBS

USA

Finance

Inc

3.63%,

01/15/2032

(f)

13,470‌

11,157‌

Pilgrim's

Pride

Corp

3.50%,

03/01/2032

6,385‌

5,155‌

4.25%,

04/15/2031

13,680‌

11,833‌

Post

Holdings

Inc

4.50%,

09/15/2031

(f)

145‌

123‌

4.63%,

04/15/2030

(f)

19,034‌

16,773‌

$

76,428‌

Forest

Products

&

Paper

-

0

.42

%

Mercer

International

Inc

5.13%,

02/01/2029

6,855‌

5,613‌

Sappi

Papier

Holding

GmbH

7.50%,

06/15/2032

(f)

4,886‌

4,422‌

$

10,035‌

Healthcare

-

Services

-

4

.52

%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(f)

20,058‌

18,554‌

Schedule

of

Investments

High

Yield

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

102

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Services

(continued)

Centene

Corp

2.50%,

03/01/2031

$

16,540‌

$

13,234‌

3.00%,

10/15/2030

1,820‌

1,523‌

3.38%,

02/15/2030

16,070‌

13,826‌

CHS/Community

Health

Systems

Inc

6.00%,

01/15/2029

(f)

12,826‌

10,966‌

HCA

Inc

3.50%,

09/01/2030

13,100‌

11,515‌

IQVIA

Inc

6.50%,

05/15/2030

(f)

1,330‌

1,343‌

Molina

Healthcare

Inc

3.88%,

05/15/2032

(f)

2,950‌

2,461‌

4.38%,

06/15/2028

(f)

7,065‌

6,478‌

Tenet

Healthcare

Corp

6.13%,

06/15/2030

23,265‌

22,608‌

6.75%,

05/15/2031

(f)

5,870‌

5,831‌

$

108,339‌

Home

Builders

-

1

.30

%

Century

Communities

Inc

3.88%,

08/15/2029

(f)

8,570‌

7,453‌

Forestar

Group

Inc

3.85%,

05/15/2026

(f)

4,390‌

4,075‌

5.00%,

03/01/2028

(f)

10,170‌

9,431‌

KB

Home

4.80%,

11/15/2029

3,000‌

2,767‌

M/I

Homes

Inc

3.95%,

02/15/2030

8,655‌

7,487‌

$

31,213‌

Insurance

-

0

.24

%

Acrisure

LLC

/

Acrisure

Finance

Inc

4.25%,

02/15/2029

(f)

6,670‌

5,751‌

Internet

-

0

.12

%

Uber

Technologies

Inc

4.50%,

08/15/2029

(f)

3,000‌

2,773‌

Investment

Companies

-

0

.79

%

Compass

Group

Diversified

Holdings

LLC

5.25%,

04/15/2029

(f)

13,193‌

12,011‌

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.38%,

02/01/2029

940‌

763‌

Linx

Capital

Ltd

15.20%,

PIK

15.20%;

04/01/2025

(f),(k),(l)

EUR

6,400‌

6,192‌

$

18,966‌

Iron

&

Steel

-

0

.69

%

Cleveland-Cliffs

Inc

4.63%,

03/01/2029

(f)

$

9,175‌

8,401‌

TMS

International

Corp/DE

6.25%,

04/15/2029

(f)

9,745‌

8,149‌

$

16,550‌

Leisure

Products

&

Services

-

2

.71

%

Carnival

Corp

4.00%,

08/01/2028

(f)

2,015‌

1,792‌

5.75%,

03/01/2027

(f)

5,125‌

4,741‌

6.00%,

05/01/2029

(f)

6,395‌

5,749‌

Carnival

Holdings

Bermuda

Ltd

10.38%,

05/01/2028

(f)

9,362‌

10,215‌

Life

Time

Inc

5.75%,

01/15/2026

(f)

11,645‌

11,415‌

NCL

Corp

Ltd

5.88%,

02/15/2027

(f)

6,700‌

6,525‌

NCL

Finance

Ltd

6.13%,

03/15/2028

(f)

6,120‌

5,569‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Leisure

Products

&

Services

(continued)

Royal

Caribbean

Cruises

Ltd

5.38%,

07/15/2027

(f)

$

12,120‌

$

11,524‌

7.25%,

01/15/2030

(f)

1,230‌

1,243‌

8.25%,

01/15/2029

(f)

6,000‌

6,266‌

$

65,039‌

Lodging

-

1

.30

%

Sands

China

Ltd

3.75%,

08/08/2031

7,955‌

6,669‌

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp

5.25%,

05/15/2027

(f)

12,340‌

11,728‌

Wynn

Macau

Ltd

5.63%,

08/26/2028

(f)

14,355‌

12,747‌

$

31,144‌

Machinery

-

Diversified

-

0

.41

%

Maxim

Crane

Works

Holdings

Capital

LLC

10.13%,

08/01/2024

(f)

9,796‌

9,796‌

Media

-

7

.00

%

Altice

Financing

SA

5.00%,

01/15/2028

(f)

2,290‌

1,777‌

AMC

Networks

Inc

4.75%,

08/01/2025

11,810‌

10,460‌

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.50%,

08/15/2030

(f)

8,650‌

7,329‌

4.75%,

03/01/2030

(f)

20,950‌

18,159‌

4.75%,

02/01/2032

(f)

2,400‌

1,981‌

5.38%,

06/01/2029

(f)

9,270‌

8,471‌

CSC

Holdings

LLC

4.50%,

11/15/2031

(f)

7,095‌

5,090‌

6.50%,

02/01/2029

(f)

12,110‌

10,283‌

11.25%,

05/15/2028

(f)

1,600‌

1,582‌

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor

Inc

5.88%,

08/15/2027

(f)

2,090‌

1,887‌

DISH

DBS

Corp

5.13%,

06/01/2029

2,385‌

1,198‌

5.25%,

12/01/2026

(f)

5,570‌

4,562‌

5.88%,

11/15/2024

7,250‌

6,619‌

7.38%,

07/01/2028

6,100‌

3,431‌

DISH

Network

Corp

11.75%,

11/15/2027

(f)

10,205‌

10,272‌

Gray

Escrow

II

Inc

5.38%,

11/15/2031

(f)

10,870‌

7,585‌

LCPR

Senior

Secured

Financing

DAC

5.13%,

07/15/2029

(f)

7,345‌

6,074‌

6.75%,

10/15/2027

(f)

8,622‌

8,064‌

Scripps

Escrow

II

Inc

5.38%,

01/15/2031

(f),(g)

13,090‌

9,978‌

Sirius

XM

Radio

Inc

3.88%,

09/01/2031

(f)

940‌

736‌

4.00%,

07/15/2028

(f)

18,145‌

15,788‌

UPC

Holding

BV

5.50%,

01/15/2028

(f)

15,110‌

13,448‌

Ziggo

Bond

Co

BV

6.00%,

01/15/2027

(f)

9,295‌

8,647‌

Ziggo

BV

4.88%,

01/15/2030

(f)

5,305‌

4,492‌

$

167,913‌

Mining

-

2

.63

%

ACN

113

874

712

Pty

Ltd

0.00%,

02/15/2018

(d),(f)

10,457‌

11‌

Copper

Mountain

Mining

Corp

8.00%,

04/09/2026

(f)

2,307‌

2,330‌

Schedule

of

Investments

High

Yield

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

103

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Mining

(continued)

First

Quantum

Minerals

Ltd

6.88%,

10/15/2027

(f)

$

4,790‌

$

4,710‌

7.50%,

04/01/2025

(f)

2,870‌

2,860‌

8.63%,

06/01/2031

(f)

3,090‌

3,163‌

Hudbay

Minerals

Inc

4.50%,

04/01/2026

(f)

4,270‌

4,049‌

6.13%,

04/01/2029

(f)

9,010‌

8,631‌

IAMGOLD

Corp

5.75%,

10/15/2028

(f)

4,893‌

3,768‌

New

Gold

Inc

7.50%,

07/15/2027

(f)

12,690‌

12,125‌

Novelis

Corp

4.75%,

01/30/2030

(f)

5,985‌

5,379‌

Taseko

Mines

Ltd

7.00%,

02/15/2026

(f)

17,405‌

16,101‌

$

63,127‌

Oil

&

Gas

-

5

.93

%

Aethon

United

BR

LP

/

Aethon

United

Finance

Corp

8.25%,

02/15/2026

(f),(g)

17,498‌

17,365‌

Antero

Resources

Corp

7.63%,

02/01/2029

(f)

4,392‌

4,498‌

8.38%,

07/15/2026

(f)

2,641‌

2,755‌

Apache

Corp

4.75%,

04/15/2043

3,345‌

2,619‌

5.10%,

09/01/2040

3,595‌

3,055‌

5.25%,

02/01/2042

6,670‌

5,606‌

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp

7.00%,

11/01/2026

(f)

12,000‌

11,736‌

Baytex

Energy

Corp

8.50%,

04/30/2030

(f)

5,980‌

6,060‌

Civitas

Resources

Inc

8.75%,

07/01/2031

(f)

7,795‌

8,068‌

Comstock

Resources

Inc

5.88%,

01/15/2030

(f)

6,135‌

5,431‌

6.75%,

03/01/2029

(f)

6,780‌

6,324‌

Crescent

Energy

Finance

LLC

9.25%,

02/15/2028

(f)

7,110‌

7,232‌

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co

5.75%,

02/01/2029

(f)

8,135‌

7,525‌

6.00%,

02/01/2031

(f)

4,595‌

4,161‌

MEG

Energy

Corp

7.13%,

02/01/2027

(f)

11,200‌

11,353‌

Nabors

Industries

Inc

7.38%,

05/15/2027

(f)

2,005‌

1,961‌

Nabors

Industries

Ltd

7.25%,

01/15/2026

(f)

3,340‌

3,216‌

Occidental

Petroleum

Corp

6.13%,

01/01/2031

(g)

7,015‌

7,166‌

6.63%,

09/01/2030

7,720‌

8,097‌

Southwestern

Energy

Co

4.75%,

02/01/2032

16,315‌

14,496‌

5.38%,

03/15/2030

3,595‌

3,364‌

$

142,088‌

Oil

&

Gas

Services

-

0

.96

%

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6.25%,

04/01/2028

(f)

18,721‌

17,645‌

Enerflex

Ltd

9.00%,

10/15/2027

(f)

5,389‌

5,422‌

$

23,067‌

Packaging

&

Containers

-

3

.15

%

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA

Inc

4.13%,

08/15/2026

(f)

5,015‌

4,698‌

5.25%,

08/15/2027

(f)

4,725‌

4,055‌

5.25%,

08/15/2027

(f),(g)

3,480‌

2,987‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

Canpack

SA

/

Canpack

US

LLC

3.13%,

11/01/2025

(f)

$

8,755‌

$

8,113‌

Cascades

Inc/Cascades

USA

Inc

5.38%,

01/15/2028

(f)

8,662‌

8,142‌

Clydesdale

Acquisition

Holdings

Inc

6.63%,

04/15/2029

(f)

1,910‌

1,827‌

8.75%,

04/15/2030

(f)

8,130‌

7,370‌

Crown

Cork

&

Seal

Co

Inc

7.38%,

12/15/2026

13,099‌

13,688‌

LABL

Inc

5.88%,

11/01/2028

(f)

6,462‌

5,894‌

8.25%,

11/01/2029

(f)

3,985‌

3,307‌

9.50%,

11/01/2028

(f)

5,400‌

5,535‌

Mauser

Packaging

Solutions

Holding

Co

7.88%,

08/15/2026

(f)

6,360‌

6,343‌

9.25%,

04/15/2027

(f)

3,925‌

3,647‌

$

75,606‌

Pharmaceuticals

-

2

.07

%

180

Medical

Inc

3.88%,

10/15/2029

(f)

13,280‌

11,627‌

AdaptHealth

LLC

5.13%,

03/01/2030

(f)

2,715‌

2,247‌

BellRing

Brands

Inc

7.00%,

03/15/2030

(f)

11,420‌

11,463‌

Jazz

Securities

DAC

4.38%,

01/15/2029

(f)

19,360‌

17,213‌

Prestige

Brands

Inc

3.75%,

04/01/2031

(f)

8,480‌

7,123‌

$

49,673‌

Pipelines

-

5

.72

%

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5.38%,

06/15/2029

(f)

5,820‌

5,456‌

5.75%,

03/01/2027

(f)

12,230‌

11,830‌

Buckeye

Partners

LP

3.95%,

12/01/2026

4,505‌

4,133‌

4.13%,

12/01/2027

9,680‌

8,760‌

CNX

Midstream

Partners

LP

4.75%,

04/15/2030

(f)

18,340‌

15,896‌

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp

5.63%,

05/01/2027

(f)

12,315‌

11,699‌

DT

Midstream

Inc

4.13%,

06/15/2029

(f)

9,896‌

8,774‌

EnLink

Midstream

LLC

5.63%,

01/15/2028

(f)

7,705‌

7,533‌

Harvest

Midstream

I

LP

7.50%,

09/01/2028

(f)

11,595‌

11,395‌

Hess

Midstream

Operations

LP

4.25%,

02/15/2030

(f)

20,245‌

17,765‌

Kinetik

Holdings

LP

5.88%,

06/15/2030

(f)

12,260‌

11,785‌

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp

6.50%,

07/15/2027

1,475‌

1,482‌

Venture

Global

Calcasieu

Pass

LLC

3.88%,

11/01/2033

(f)

1,360‌

1,104‌

Venture

Global

LNG

Inc

8.38%,

06/01/2031

(f)

8,010‌

8,128‌

Western

Midstream

Operating

LP

4.30%,

02/01/2030

12,577‌

11,430‌

$

137,170‌

REITs

-

2

.62

%

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.38%,

06/15/2026

(f)

9,195‌

8,305‌

3.75%,

09/15/2030

(f)

4,395‌

3,516‌

Schedule

of

Investments

High

Yield

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

104

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

REITs

(continued)

Iron

Mountain

Inc

4.50%,

02/15/2031

(f)

$

13,900‌

$

11,983‌

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp

4.75%,

06/15/2029

(f)

21,583‌

18,197‌

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co-Issuer

4.88%,

05/15/2029

(f)

735‌

642‌

5.88%,

10/01/2028

(f)

3,865‌

3,566‌

7.50%,

06/01/2025

(f)

4,180‌

4,200‌

XHR

LP

4.88%,

06/01/2029

(f)

14,253‌

12,399‌

$

62,808‌

Retail

-

5

.56

%

Abercrombie

&

Fitch

Management

Co

8.75%,

07/15/2025

(f),(g)

2,745‌

2,785‌

Academy

Ltd

6.00%,

11/15/2027

(f)

9,250‌

8,938‌

Bath

&

Body

Works

Inc

5.25%,

02/01/2028

11,165‌

10,636‌

6.63%,

10/01/2030

(f)

3,730‌

3,605‌

6.75%,

07/01/2036

(g)

1,100‌

1,000‌

9.38%,

07/01/2025

(f)

432‌

456‌

Dave

&

Buster's

Inc

7.63%,

11/01/2025

(f)

11,021‌

11,135‌

Doman

Building

Materials

Group

Ltd

5.25%,

05/15/2026

(f)

CAD

8,370‌

5,744‌

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co

Inc

4.63%,

01/15/2029

(f)

$

16,625‌

14,504‌

6.75%,

01/15/2030

(f)

5,755‌

4,938‌

Gap

Inc/The

3.63%,

10/01/2029

(f)

13,895‌

10,362‌

IRB

Holding

Corp

7.00%,

06/15/2025

(f)

6,015‌

6,045‌

LSF9

Atlantis

Holdings

LLC

/

Victra

Finance

Corp

7.75%,

02/15/2026

(f)

11,835‌

11,096‌

Park

River

Holdings

Inc

5.63%,

02/01/2029

(f)

12,600‌

10,080‌

Patrick

Industries

Inc

4.75%,

05/01/2029

(f)

7,000‌

6,042‌

7.50%,

10/15/2027

(f)

2,725‌

2,677‌

PetSmart

Inc

/

PetSmart

Finance

Corp

4.75%,

02/15/2028

(f)

11,270‌

10,334‌

7.75%,

02/15/2029

(f)

1,000‌

976‌

Yum!

Brands

Inc

3.63%,

03/15/2031

13,890‌

11,906‌

$

133,259‌

Savings

&

Loans

-

0

.00

%

Washington

Mutual

Bank

/

Henderson

NV

0.00%,

06/15/2011

(d),(e)

3,500‌

—‌

0.00%,

01/15/2013

(d)

3,000‌

—‌

0.00%,

01/15/2015

(d),(e)

2,000‌

—‌

$

—‌

Semiconductors

-

0

.27

%

ams-OSRAM

AG

7.00%,

07/31/2025

(f)

7,500‌

6,581‌

Software

-

0

.96

%

Open

Text

Corp

3.88%,

02/15/2028

(f)

11,250‌

10,007‌

3.88%,

12/01/2029

(f)

15,250‌

12,900‌

$

22,907‌

Telecommunications

-

1

.60

%

Altice

France

Holding

SA

10.50%,

05/15/2027

(f)

7,205‌

3,049‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

Altice

France

SA/France

5.50%,

01/15/2028

(f)

$

3,595‌

$

2,638‌

8.13%,

02/01/2027

(f)

6,375‌

5,215‌

Iliad

Holding

SASU

6.50%,

10/15/2026

(f)

3,000‌

2,875‌

Level

3

Financing

Inc

4.25%,

07/01/2028

(f)

1,895‌

1,341‌

Telecom

Italia

Capital

SA

6.38%,

11/15/2033

2,620‌

2,217‌

Telecom

Italia

SpA/Milano

5.30%,

05/30/2024

(f)

9,455‌

9,270‌

Viavi

Solutions

Inc

3.75%,

10/01/2029

(f)

13,660‌

11,722‌

$

38,327‌

Textiles

-

0

.21

%

Eagle

Intermediate

Global

Holding

BV/Eagle

US

Finance

LLC

7.50%,

05/01/2025

(f)

7,500‌

4,988‌

Transportation

-

1

.26

%

Eletson

Holdings

Inc

/

Eletson

Finance

US

LLC

/

Agathonissos

Finance

LLC

0.00%,

01/15/2022

(d),(e)

18,905‌

95‌

Navios

South

American

Logistics

Inc

/

Navios

Logistics

Finance

US

Inc

10.75%,

07/01/2025

(f)

8,625‌

8,409‌

SFL

Corp

Ltd

8.88%,

02/01/2027

7,900‌

7,853‌

Watco

Cos

LLC

/

Watco

Finance

Corp

6.50%,

06/15/2027

(f)

14,452‌

13,847‌

$

30,204‌

TOTAL

BONDS

$

2,044,435‌

CONVERTIBLE

BONDS

-

0

.00

%

Principal

Amount

(000's)

Value

(000's)

Food

-

0

.00

%

Fresh

Express

Delivery

Holding

Group

Co

Ltd

-

Escrow

0.00%,

11/09/2009

(d),(e)

HKD

46,500‌

$

—‌

0.00%,

10/18/2010

(d),(e)

CNH

245,000‌

—‌

$

—‌

TOTAL

CONVERTIBLE

BONDS

$

—‌

SENIOR

FLOATING

RATE

INTERESTS

-

6

.29

%

Principal

Amount

(000's)

Value

(000's)

Airlines

-

1

.17

%

AAdvantage

Loyalty

IP

Ltd

10.34%,

04/20/2028

(m)

$

15,274‌

$

15,798‌

3

Month

USD

LIBOR

+

4.75%

Mileage

Plus

Holdings

LLC

10.76%,

06/21/2027

(m)

5,150‌

5,365‌

3

Month

USD

LIBOR

+

5.25%

United

Airlines

Inc

9.29%,

04/21/2028

(m)

6,958‌

6,959‌

3

Month

USD

LIBOR

+

3.75%

$

28,122‌

Chemicals

-

0

.60

%

Aruba

Investments

Holdings

LLC

13.17%,

10/27/2028

(m)

16,000‌

14,400‌

1

Month

USD

LIBOR

+

7.75%

Diversified

Financial

Services

-

0

.16

%

Russell

Investments

US

Institutional

Holdco

Inc

8.92%,

05/30/2025

(m)

4,167‌

3,839‌

1

Month

USD

LIBOR

+

3.50%

Forest

Products

&

Paper

-

0

.35

%

Spectrum

Group

Buyer

Inc

11.32%,

05/19/2028

(m)

8,807‌

8,418‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.50%

Schedule

of

Investments

High

Yield

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

105

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Products

-

0

.98

%

Medline

Borrower

LP

8.68%,

09/30/2028

(m)

$

23,770‌

$

23,510‌

1

Month

USD

LIBOR

+

3.25%

Insurance

-

0

.25

%

Acrisure

LLC

8.93%,

02/15/2027

(m)

6,151‌

5,986‌

1

Month

USD

LIBOR

+

3.50%

Iron

&

Steel

-

0

.29

%

TMS

International

Corp/DE

10.10%,

03/06/2030

(m)

7,007‌

6,990‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.75%

Lodging

-

0

.16

%

Fertitta

Entertainment

LLC/NV

9.32%,

01/13/2029

(m)

3,955‌

3,909‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Media

-

0

.56

%

Directv

Financing

LLC

10.43%,

08/02/2027

(m)

13,452‌

13,352‌

1

Month

USD

LIBOR

+

5.00%

Mining

-

0

.42

%

Arsenal

AIC

Parent

LLC

0.00%,

07/26/2030

(m),(n)

10,150‌

10,139‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

Packaging

&

Containers

-

0

.40

%

Mauser

Packaging

Solutions

Holding

Co

9.14%,

01/31/2026

(m)

3,022‌

3,017‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Valcour

Packaging

LLC

9.40%,

09/30/2028

(m)

2,873‌

2,409‌

1

Month

USD

LIBOR

+

3.75%

12.65%,

09/30/2029

(m)

7,063‌

4,111‌

6

Month

USD

LIBOR

+

7.00%

$

9,537‌

Pharmaceuticals

-

0

.64

%

Bausch

Health

Americas

Inc

10.60%,

01/27/2027

(m)

18,715‌

15,231‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.25%

Retail

-

0

.31

%

IRB

Holding

Corp

8.20%,

12/15/2027

(m)

7,313‌

7,270‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

150,703‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

1

.89

%

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

-

1

.89

%

2.75%,

08/15/2032

$

50,000‌

$

45,393‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

45,393‌

Total

Investments

$

2,386,780‌

Other

Assets

and

Liabilities

-  0.45%

10,890‌

TOTAL

NET

ASSETS

-

100.00%

$

2,397,670‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$10,406

or

0.43%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

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

$1,604,356

or

66.91%

of

net

assets.

(g)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$10,120

or

0.42%

of

net

assets.

(h)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(i)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(j)

Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$11,920

or

0.50%

of

net

assets.

(k)

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.

(l)

Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(m)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(n)

This

Senior

Floating

Rate

Note

will

settle

after

July

31,

2023,

at

which

time

the

interest

rate

will

be

determined.

Portfolio

Summary

Sector

Percent

Consumer,

Cyclical

20

.94‌

%

Consumer,

Non-cyclical

15

.35‌

%

Energy

12

.65‌

%

Industrial

11

.26‌

%

Communications

9

.28‌

%

Financial

8

.26‌

%

Basic

Materials

8

.15‌

%

Money

Market

Funds

6

.00‌

%

Technology

3

.05‌

%

Utilities

2

.72‌

%

Government

1

.89‌

%

Other

Assets

and

Liabilities

0

.45‌

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

High

Yield

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

106

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

771,623‌

$

633,669‌

$

137,954‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

38,345‌

141,199‌

179,544‌

—‌

$

38,345‌

$

912,822‌

$

813,213‌

$

137,954‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

2,316‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

330‌

—‌

—‌

—‌

$

2,646‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Foreign

Currency

Contracts

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

RBC

Dominon

Securities

Corp

08/16/2023

$

5,873‌

CAD

7,700‌

$

33‌

$

—‌

RBC

Dominon

Securities

Corp

08/16/2023

$

6,532‌

EUR

5,826‌

121‌

—‌

Total

$

154‌

$

—‌

Amounts

in

thousands.

Schedule

of

Investments

Inflation

Protection

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

107

INVESTMENT

COMPANIES

-

4.11%

Shares

Held

Value

(000's)

Money

Market

Funds

-

4.11%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

12,489,539‌

$

12,490‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b),(c)

50,456,262‌

50,456‌

$

62,946‌

TOTAL

INVESTMENT

COMPANIES

$

62,946‌

BONDS

-

2.30%

Principal

Amount

(000's)

Value

(000's)

Commercial

Mortgage

Backed

Securities

-

0.00%

Commercial

Mortgage

Trust

2007-GG9

0.39%,

03/10/2039

(d),(e),(f)

$

82‌

$

—‌

Ginnie

Mae

1.60%,

03/16/2047

(d),(e)

72‌

1‌

$

1‌

Home

Equity

Asset

Backed

Securities

-

0.00%

Option

One

Mortgage

Loan

Trust

2005-1

6.91%,

02/25/2035

23‌

17‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.61%

Mortgage

Backed

Securities

-

1.33%

Alternative

Loan

Trust

2006-OA6

5.93%,

07/25/2046

1‌

1‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.63%

BRAVO

Residential

Funding

Trust

2023-NQM3

4.85%,

09/25/2062

(e),(f)

1,829‌

1,755‌

Chase

Mortgage

Finance

Trust

Series

2007-A2

5.15%,

06/25/2035

(e)

7‌

7‌

CIM

Trust

2023-I2

6.64%,

12/25/2067

(e),(f)

2,274‌

2,267‌

CSMC

2022-NQM4

Trust

4.82%,

06/25/2067

(e),(f)

1,430‌

1,384‌

CSMC

2022-NQM5

Trust

5.17%,

05/25/2067

(e),(f)

2,637‌

2,566‌

Ellington

Financial

Mortgage

Trust

2021-3

1.24%,

09/25/2066

(e),(f)

2,204‌

1,698‌

Fannie

Mae

REMIC

Trust

2004-W5

5.63%,

02/25/2047

11‌

10‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.56%

Fannie

Mae

REMIC

Trust

2005-W2

5.38%,

05/25/2035

1‌

1‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.31%

Homeward

Opportunities

Fund

Trust

2022-1

5.08%,

07/25/2067

(e),(f)

1,299‌

1,258‌

Impac

CMB

Trust

Series

2004-5

7.74%,

10/25/2034

3‌

3‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.44%

Impac

CMB

Trust

Series

2004-6

6.39%,

10/25/2034

2‌

2‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.09%

Impac

CMB

Trust

Series

2005-1

6.03%,

04/25/2035

26‌

24‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.73%

Impac

CMB

Trust

Series

2005-5

6.18%,

08/25/2035

6‌

5‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.62%

J.P.

Morgan

Mortgage

Trust

2023-DSC1

4.62%,

07/25/2063

(e),(f)

959‌

894‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Mortgage

Backed

Securities

(continued)

Merrill

Lynch

Alternative

Note

Asset

Trust

Series

2007-A3

5.83%,

04/25/2037

$

1,302‌

$

519‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.53%

OBX

2022-NQM9

Trust

6.45%,

09/25/2062

(e),(f)

2,205‌

2,206‌

PRKCM

2022-AFC2

Trust

5.33%,

08/25/2057

(e),(f)

527‌

514‌

SG

Residential

Mortgage

Trust

2021-1

1.16%,

07/25/2061

(e),(f)

2,581‌

1,989‌

SG

Residential

Mortgage

Trust

2022-2

5.35%,

08/25/2062

(e),(f)

657‌

640‌

Verus

Securitization

Trust

2022-7

5.15%,

07/25/2067

(e),(f)

1,911‌

1,844‌

Verus

Securitization

Trust

2022-INV2

6.79%,

10/25/2067

(e),(f)

703‌

705‌

WaMu

Mortgage

Pass-Through

Certificates

Series

2005-AR2

Trust

6.15%,

01/25/2045

12‌

11‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.85%

$

20,303‌

Other

Asset

Backed

Securities

-

0.65%

AMSR

2022-SFR3

Trust

4.00%,

10/17/2039

(f)

2,091‌

1,870‌

Argent

Securities

Trust

2006-W3

5.65%,

04/25/2036

24‌

8‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.35%

Countrywide

Asset-Backed

Certificates

6.54%,

12/25/2032

7‌

7‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.24%

Long

Beach

Mortgage

Loan

Trust

2004-2

6.21%,

06/25/2034

19‌

18‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.91%

New

Residential

Mortgage

Loan

Trust

2022-SFR2

4.00%,

09/04/2039

(f)

2,035‌

1,819‌

Pagaya

AI

Technology

in

Housing

Trust

2022-1

4.25%,

08/25/2025

(f)

1,275‌

1,186‌

Progress

Residential

2022-SFR6

Trust

6.04%,

07/20/2039

(f)

1,990‌

1,930‌

Progress

Residential

2022-SFR7

Trust

5.50%,

10/27/2039

(f)

3,320‌

3,142‌

$

9,980‌

Sovereign

-

0.32%

Spain

Government

Bond

3.15%,

04/30/2033

(f)

EUR

4,425‌

4,746‌

United

Kingdom

Inflation-Linked

Gilt

0.25%,

03/22/2052

GBP

209‌

216‌

$

4,962‌

TOTAL

BONDS

$

35,263‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

100.10%

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

3.25%

5.00%,

08/01/2053

(g)

$

23,557‌

$

23,012‌

5.50%,

08/01/2053

(g)

26,919‌

26,731‌

$

49,743‌

U.S.

Treasury

Inflation-Indexed

Obligations

-

96.85%

0.13%,

10/15/2024

50,687‌

48,910‌

0.13%,

04/15/2025

40,297‌

38,399‌

0.13%,

10/15/2025

48,854‌

46,414‌

0.13%,

04/15/2026

36,054‌

33,883‌

0.13%,

07/15/2026

41,655‌

39,198‌

Schedule

of

Investments

Inflation

Protection

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

108

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

U.S.

Treasury

Inflation-Indexed

Obligations

(continued)

0.13%,

10/15/2026

$

50,006‌

$

46,877‌

0.13%,

04/15/2027

49,828‌

46,286‌

0.13%,

01/15/2030

(h)

47,218‌

42,505‌

0.13%,

07/15/2030

51,907‌

46,612‌

0.13%,

01/15/2031

54,706‌

48,639‌

0.13%,

07/15/2031

53,110‌

47,076‌

0.13%,

01/15/2032

58,455‌

51,386‌

0.13%,

02/15/2051

20,045‌

12,964‌

0.13%,

02/15/2052

23,172‌

14,906‌

0.25%,

01/15/2025

51,459‌

49,365‌

0.25%,

07/15/2029

44,449‌

40,804‌

0.25%,

02/15/2050

18,832‌

12,788‌

0.38%,

07/15/2025

54,789‌

52,495‌

0.38%,

01/15/2027

43,023‌

40,451‌

0.38%,

07/15/2027

46,063‌

43,327‌

0.50%,

01/15/2028

21,754‌

20,429‌

0.63%,

01/15/2026

43,134‌

41,187‌

0.63%,

07/15/2032

(

i

)

60,621‌

55,591‌

0.63%,

02/15/2043

20,371‌

16,372‌

0.75%,

07/15/2028

38,623‌

36,768‌

0.75%,

02/15/2042

25,231‌

21,094‌

0.75%,

02/15/2045

29,788‌

24,078‌

0.88%,

01/15/2029

39,226‌

37,318‌

0.88%,

02/15/2047

19,182‌

15,722‌

1.00%,

02/15/2046

15,044‌

12,764‌

1.00%,

02/15/2048

15,139‌

12,716‌

1.00%,

02/15/2049

12,370‌

10,368‌

1.13%,

01/15/2033

(

i

)

59,488‌

56,835‌

1.25%,

04/15/2028

24,689‌

23,974‌

1.38%,

07/15/2033

21,790‌

21,393‌

1.38%,

02/15/2044

27,002‌

24,915‌

1.50%,

02/15/2053

11,802‌

11,187‌

1.63%,

10/15/2027

37,098‌

36,661‌

1.75%,

01/15/2028

18,734‌

18,574‌

2.00%,

01/15/2026

21,437‌

21,154‌

2.13%,

02/15/2040

10,710‌

11,317‌

2.13%,

02/15/2041

16,323‌

17,260‌

2.38%,

01/15/2025

35,281‌

34,876‌

2.38%,

01/15/2027

21,355‌

21,484‌

2.50%,

01/15/2029

18,037‌

18,653‌

3.38%,

04/15/2032

8,491‌

9,619‌

3.63%,

04/15/2028

20,505‌

22,045‌

3.88%,

04/15/2029

23,370‌

25,878‌

$

1,483,517‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

1,533,260‌

TOTAL

PURCHASED

OPTIONS

-

0.22%

$

3,389‌

TOTAL

PURCHASED

INTEREST

RATE

SWAPTIONS

-

0.04%

$

644‌

Total

Investments

$

1,635,502‌

Other

Assets

and

Liabilities

-  (6.77)%

(103,725‌)

TOTAL

NET

ASSETS

-

100.00%

$

1,531,777‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$40,700

or

2.66%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Security

is

an

Interest

Only

Strip.

(e)

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.

(f)

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

$34,413

or

2.25%

of

net

assets.

(g)

Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(h)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$33,767

or

2.20%

of

net

assets.

(

i

)

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

$562

or

0.04%

of

net

assets.

Portfolio

Summary

Sector

Percent

Government

97.17‌%

Mortgage

Securities

4.58‌%

Money

Market

Funds

4.11‌%

Asset

Backed

Securities

0.65‌%

Purchased

Options

0.22‌%

Purchased

Interest

Rate

Swaptions

0.04‌%

Other

Assets

and

Liabilities

(6.77‌)%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

345,166‌

$

294,710‌

$

50,456‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

25,293‌

55,920‌

81,213‌

—‌

$

25,293‌

$

401,086‌

$

375,923‌

$

50,456‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

283‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

55‌

—‌

—‌

—‌

$

338‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Inflation

Protection

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

109

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Payments

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

US

10

Year

Note

Future;

September

2023

N/A

570‌

$

570‌

$

112.75‌

08/14/2023

$

322‌

$

80‌

$

(242‌)

Put

-

3

Month

SOFR

Future;

December

2023

N/A

339‌

848‌

$

94.88‌

10/16/2023

77‌

271‌

194‌

Put

-

3

Month

SOFR

Future;

December

2023

N/A

847‌

2,118‌

$

95.63‌

10/16/2023

891‌

2,160‌

1,269‌

Put

-

3

Month

SOFR

Future;

December

2023

N/A

508‌

1,270‌

$

95.00‌

10/16/2023

141‌

549‌

408‌

Put

-

3

Month

SOFR

Future;

December

2024

N/A

323‌

808‌

$

96.00‌

10/16/2023

161‌

303‌

142‌

Put

-

3

Month

SOFR

Future;

December

2024

N/A

323‌

808‌

$

94.38‌

10/16/2023

71‌

26‌

(45‌)

Total

$

1,663‌

$

3,389‌

$

1,726‌

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

US

10

Year

Note

Future;

September

2023

N/A

855‌

$

855‌

$

114.50‌

08/14/2023

$

(104‌)

$

(13‌)

$

91‌

Put

-

3

Month

SOFR

Future;

December

2023

N/A

339‌

848‌

$

95.13‌

10/16/2023

(152‌)

(462‌)

(310‌)

Put

-

3

Month

SOFR

Future;

December

2023

N/A

508‌

1,270‌

$

95.25‌

10/16/2023

(257‌)

(841‌)

(584‌)

Put

-

3

Month

SOFR

Future;

December

2023

N/A

847‌

2,118‌

$

95.38‌

10/16/2023

(570‌)

(1,657‌)

(1,087‌)

Put

-

3

Month

SOFR

Future;

December

2024

N/A

323‌

808‌

$

95.75‌

10/16/2023

(104‌)

(196‌)

(92‌)

Put

-

3

Month

SOFR

Future;

December

2024

N/A

323‌

808‌

$

94.63‌

10/16/2023

(116‌)

(101‌)

15‌

Total

$

(1,303‌)

$

(3,270‌)

$

(1,967‌)

Amounts

in

thousands

except

contracts/shares.

Interest

Rate

Swaptions

Purchased

Swaptions

Outstanding

Counterparty

Floating

Rate

Index

Pay/

Receive

Floating

Rate

Notional

Amount

Exercise

Rate

Expiration

Date

Upfront

Payments

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

1

Year

Interest

Rate

Swap

Citigroup

Inc

Secured

Overnight

Financing

Rate

Pay

$

156,351‌

4.50%

01/23/2024

$

389‌

$

283‌

$

(106‌)

Call

-

1

Year

Interest

Rate

Swap

Citigroup

Inc

Secured

Overnight

Financing

Rate

Pay

156,351‌

4.55%

01/25/2024

376‌

311‌

(65‌)

Call

-

2

Year

Interest

Rate

Swap

Morgan

Stanley

&

Co

Sterling

Overnight

Index

Average

Pay

GBP

15,650‌

5.55%

08/21/2023

51‌

50‌

(1‌)

Total

$

816‌

$

644‌

$

(172‌)

Written

Swaptions

Outstanding

Counterparty

Floating

Rate

Index

Pay/

Receive

Floating

Rate

Notional

Amount

Exercise

Rate

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

1

Year

Interest

Rate

Swap

Citigroup

Inc

Secured

Overnight

Financing

Rate

Receive

$

156,351‌

3.85%

01/25/2024

$

(147‌)

$

(128‌)

$

19‌

Call

-

1

Year

Interest

Rate

Swap

Citigroup

Inc

Secured

Overnight

Financing

Rate

Receive

156,351‌

3.80%

01/23/2024

(164‌)

(116‌)

48‌

Call

-

2

Year

Interest

Rate

Swap

Morgan

Stanley

&

Co

Sterling

Overnight

Index

Average

Receive

GBP

15,650‌

5.15%

08/21/2023

(13‌)

(9‌)

4‌

Call

-

5

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Receive

$

11,191‌

3.31%

06/17/2024

(230‌)

(159‌)

71‌

Call

-

5

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Receive

5,596‌

3.57%

07/12/2024

(124‌)

(114‌)

10‌

Put

-

2

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Pay

8,204‌

4.61%

09/06/2023

(24‌)

(38‌)

(14‌)

Put

-

2

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Pay

8,204‌

4.18%

08/25/2023

(21‌)

(90‌)

(69‌)

Put

-

2

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Pay

4,266‌

4.15%

08/23/2023

(11‌)

(49‌)

(38‌)

Put

-

2

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Pay

4,266‌

4.13%

08/24/2023

(11‌)

(51‌)

(40‌)

Put

-

2

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Pay

8,532‌

4.05%

08/15/2023

(22‌)

(116‌)

(94‌)

Schedule

of

Investments

Inflation

Protection

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

110

Interest

Rate

Swaptions

(continued)

Written

Swaptions

Outstanding

Counterparty

Floating

Rate

Index

Pay/

Receive

Floating

Rate

Notional

Amount

Exercise

Rate

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Put

-

2

Year

Interest

Rate

Swap

Citigroup

Inc

Sterling

Overnight

Index

Average

Pay

GBP

7,135‌

4.92%

09/08/2023

$

(36‌)

$

(116‌)

$

(80‌)

Put

-

2

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Pay

$

8,204‌

4.39%

09/06/2023

(23‌)

(62‌)

(39‌)

Put

-

2

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Pay

8,204‌

4.43%

09/01/2023

(20‌)

(56‌)

(36‌)

Put

-

2

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Pay

4,102‌

4.10%

08/24/2023

(10‌)

(51‌)

(41‌)

Put

-

2

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Pay

4,102‌

4.11%

08/23/2023

(11‌)

(51‌)

(40‌)

Put

-

2

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Pay

8,204‌

4.30%

09/01/2023

(22‌)

(72‌)

(50‌)

Put

-

5

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Pay

11,191‌

3.31%

06/17/2024

(230‌)

(307‌)

(77‌)

Put

-

5

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Pay

5,596‌

3.57%

07/12/2024

(129‌)

(118‌)

11‌

Total

$

(1,248‌)

$

(1,703‌)

$

(455‌)

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

3

Month

SOFR;

March

2024

Long

826‌

$

195,845‌

$

(443‌)

30

Day

Federal

Funds;

March

2024

Long

20‌

7,895‌

1‌

30

Day

Federal

Funds;

October

2023

Short

20‌

7,886‌

—‌

Australia

10

Year

Bond;

September

2023

Long

26‌

2,023‌

(19‌)

Australia

3

Year

Bond;

September

2023

Short

79‌

5,625‌

1‌

Euro-BTP;

September

2023

Short

19‌

2,423‌

(19‌)

Euro-Oat;

September

2023

Short

17‌

2,384‌

15‌

Japan

10

Year

Bond

TSE;

September

2023

Short

4‌

4,128‌

34‌

US

10

Year

Note;

September

2023

Short

82‌

9,135‌

—‌

US

10

Year

Ultra

Note;

September

2023

Short

9‌

1,053‌

22‌

US

2

Year

Note;

September

2023

Short

333‌

67,610‌

29‌

US

5

Year

Note;

September

2023

Long

254‌

27,132‌

(275‌)

US

Long

Bond;

September

2023

Short

30‌

3,733‌

62‌

Total

$

(592‌)

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

08/02/2023

$

4,697‌

EUR

4,313‌

$

—‌

$

(45‌)

BNP

Paribas

08/02/2023

EUR

4,297‌

$

4,731‌

—‌

(7‌)

BNP

Paribas

09/05/2023

$

4,739‌

EUR

4,297‌

7‌

—‌

Deutsche

Bank

AG

09/20/2023

$

3,831‌

JPY

546,389‌

—‌

(41‌)

JPMorgan

Chase

09/05/2023

$

331‌

JPY

46,747‌

—‌

—‌

JPMorgan

Chase

09/05/2023

$

295‌

GBP

230‌

1‌

—‌

Morgan

Stanley

&

Co

09/20/2023

JPY

524,820‌

$

3,831‌

—‌

(112‌)

Total

$

8‌

$

(205‌)

Amounts

in

thousands.

Exchange

Cleared

Interest

Rate

Swaps

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a)

Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Payments/

(Receipts)

Fair

Value

1

Day

Euro

Short

Term

Rate

Receive

3.23%

Annual

Annual

N/A

07/29/2025

EUR

14,673‌

$

(12‌)

$

—‌

$

(12‌)

Canadian

Overnight

Repo

Rate

Average

Receive

3.36%

Annual

Annual

N/A

06/22/2053

CAD

577‌

5‌

—‌

5‌

Canadian

Overnight

Repo

Rate

Average

Pay

3.54%

Annual

Annual

N/A

06/22/2033

1,319‌

(14‌)

—‌

(14‌)

Canadian

Overnight

Repo

Rate

Average

Receive

3.40%

Annual

Annual

N/A

06/15/2053

1,152‌

4‌

—‌

4‌

Canadian

Overnight

Repo

Rate

Average

Receive

3.57%

Annual

Annual

N/A

07/20/2033

1,201‌

9‌

—‌

9‌

Canadian

Overnight

Repo

Rate

Average

Pay

4.38%

Annual

Annual

N/A

07/20/2026

3,666‌

(12‌)

—‌

(12‌)

Canadian

Overnight

Repo

Rate

Average

Pay

4.40%

Annual

Annual

N/A

07/20/2026

3,667‌

(11‌)

—‌

(11‌)

Canadian

Overnight

Repo

Rate

Average

Pay

3.62%

Annual

Annual

N/A

07/21/2033

1,212‌

(5‌)

—‌

(5‌)

Canadian

Overnight

Repo

Rate

Average

Receive

3.41%

Annual

Annual

N/A

07/21/2053

531‌

1‌

—‌

1‌

Schedule

of

Investments

Inflation

Protection

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

111

Exchange

Cleared

Interest

Rate

Swaps

(continued)

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a)

Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Payments/

(Receipts)

Fair

Value

Canadian

Overnight

Repo

Rate

Average

Receive

3.57%

Annual

Annual

N/A

07/20/2033

CAD

1,200‌

$

9‌

$

—‌

$

9‌

Canadian

Overnight

Repo

Rate

Average

Pay

3.54%

Annual

Annual

N/A

06/15/2033

2,592‌

(27‌)

—‌

(27‌)

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Pay

2.41%

Annual

Annual

N/A

07/20/2028

$

10,315‌

(89‌)

—‌

(89‌)

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.34%

Annual

Annual

N/A

07/20/2027

10,315‌

79‌

—‌

79‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.27%

Annual

Annual

N/A

07/20/2026

10,315‌

67‌

—‌

67‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Pay

2.20%

Annual

Annual

N/A

07/20/2025

10,315‌

(50‌)

—‌

(50‌)

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Pay

2.60%

Annual

Annual

N/A

07/25/2033

4,390‌

(12‌)

—‌

(12‌)

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.51%

Annual

Annual

N/A

07/25/2028

4,390‌

19‌

—‌

19‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.41%

Annual

Annual

N/A

06/02/2028

2,570‌

24‌

—‌

24‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.42%

Annual

Annual

N/A

05/22/2028

15,840‌

138‌

1‌

139‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.49%

Annual

Annual

N/A

12/12/2052

310‌

3‌

—‌

3‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.56%

Annual

Annual

N/A

04/13/2028

3,570‌

9‌

—‌

9‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.61%

Annual

Annual

N/A

12/12/2027

24,730‌

65‌

—‌

65‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.61%

Annual

Annual

N/A

12/12/2027

12,750‌

30‌

—‌

30‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Pay

2.55%

Annual

Annual

N/A

02/10/2033

865‌

(8‌)

—‌

(8‌)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.75%

Annual

Annual

N/A

05/15/2053

EUR

130‌

(3‌)

—‌

(3‌)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.44%

Annual

Annual

N/A

08/15/2052

400‌

(63‌)

(3‌)

(66‌)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Receive

2.60%

Annual

Annual

N/A

08/15/2052

230‌

25‌

1‌

26‌

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.44%

Annual

Annual

N/A

05/15/2033

3,220‌

(48‌)

—‌

(48‌)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.43%

Annual

Annual

N/A

07/15/2052

100‌

(17‌)

—‌

(17‌)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.69%

Annual

Annual

N/A

03/15/2053

115‌

(6‌)

—‌

(6‌)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.64%

Annual

Annual

N/A

03/15/2053

115‌

(8‌)

—‌

(8‌)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.70%

Annual

Annual

N/A

04/15/2053

115‌

(5‌)

—‌

(5‌)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Receive

2.41%

Annual

Annual

N/A

05/15/2028

3,220‌

27‌

1‌

28‌

Secured

Overnight

Financing

Rate

Pay

4.19%

Annual

Annual

N/A

07/29/2025

$

16,583‌

(2‌)

—‌

(2‌)

Tokyo

Overnight  Average

Rate

Receive

0.92%

Annual

Annual

N/A

02/15/2033

JPY

221,233‌

(38‌)

3‌

(35‌)

Tokyo

Overnight  Average

Rate

Receive

0.89%

Annual

Annual

N/A

02/15/2033

76,378‌

(11‌)

1‌

(10‌)

Tokyo

Overnight  Average

Rate

Receive

0.90%

Annual

Annual

N/A

02/15/2033

76,378‌

(12‌)

1‌

(11‌)

Tokyo

Overnight  Average

Rate

Receive

0.90%

Annual

Annual

N/A

02/15/2033

152,756‌

(24‌)

2‌

(22‌)

United

Kingdom

Retail

Prices

Index

Pay

4.06%

Annual

Annual

N/A

07/15/2028

GBP

3,145‌

(8‌)

—‌

(8‌)

United

Kingdom

Retail

Prices

Index

Receive

3.85%

Annual

Annual

N/A

07/15/2033

3,145‌

14‌

—‌

14‌

Total

$

43‌

$

7‌

$

50‌

Amounts

in

thousands.

(a)    

Forward

swap.

Schedule

of

Investments

International

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

112

INVESTMENT

COMPANIES

-

1

.29

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.29

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

2,406,095‌

$

2,406‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

1,720,737‌

1,721‌

$

4,127‌

TOTAL

INVESTMENT

COMPANIES

$

4,127‌

COMMON

STOCKS

-

100

.39

%

Shares

Held

Value

(000's)

Advertising

-

1

.28

%

Publicis

Groupe

SA

51,000‌

$

4,112‌

Aerospace

&

Defense

-

0

.81

%

Airbus

SE

17,600‌

2,593‌

Agriculture

-

0

.36

%

ITC

Ltd

201,000‌

1,139‌

Airlines

-

0

.60

%

JET2

PLC

59,000‌

850‌

Turk

Hava

Yollari

AO

(d)

123,000‌

1,070‌

$

1,920‌

Apparel

-

3

.48

%

LVMH

Moet

Hennessy

Louis

Vuitton

SE

11,978‌

11,125‌

Automobile

Manufacturers

-

3

.27

%

Bayerische

Motoren

Werke

AG

18,500‌

2,256‌

Hyundai

Motor

Co

6,000‌

922‌

Kia

Corp

48,500‌

3,148‌

Mercedes-Benz

Group

AG

34,000‌

2,715‌

Stellantis

NV

69,000‌

1,416‌

$

10,457‌

Banks

-

14

.32

%

Banca

Mediolanum

SpA

135,000‌

1,312‌

Banco

Bilbao

Vizcaya

Argentaria

SA

520,000‌

4,122‌

Banco

do

Brasil

SA

332,000‌

3,386‌

Bangkok

Bank

PCL

343,000‌

1,713‌

Bank

Mandiri

Persero

Tbk

PT

7,638,000‌

2,904‌

Bank

of

China

Ltd

5,582,000‌

2,070‌

Bank

of

Jiangsu

Co

Ltd

1,341,000‌

1,356‌

Bank

Rakyat

Indonesia

Persero

Tbk

PT

4,400,000‌

1,647‌

BAWAG

Group

AG

(d),(e)

23,000‌

1,121‌

BPER

Banca

373,000‌

1,291‌

China

Construction

Bank

Corp

2,088,000‌

1,217‌

Grupo

Financiero

Banorte

SAB

de

CV

368,000‌

3,489‌

HSBC

Holdings

PLC

312,000‌

2,592‌

ICICI

Bank

Ltd

152,000‌

1,852‌

Krung

Thai

Bank

PCL

1,666,000‌

999‌

Mitsubishi

UFJ

Financial

Group

Inc

518,000‌

4,171‌

Oversea-Chinese

Banking

Corp

Ltd

261,000‌

2,612‌

Sberbank

of

Russia

PJSC

ADR

(d)

194,243‌

—‌

State

Bank

of

India

244,000‌

1,843‌

Swedbank

AB

62,000‌

1,137‌

UBS

Group

AG

174,000‌

3,861‌

Woori

Financial

Group

Inc

121,000‌

1,106‌

$

45,801‌

Beverages

-

1

.63

%

Jiangsu

King's

Luck

Brewery

JSC

Ltd

185,000‌

1,585‌

Pernod

Ricard

SA

16,500‌

3,638‌

$

5,223‌

Biotechnology

-

0

.61

%

Genmab

A/S

(d)

4,718‌

1,945‌

Coal

-

1

.04

%

China

Shenhua

Energy

Co

Ltd

533,000‌

1,598‌

Shanxi

Lu'an

Environmental

Energy

Development

Co

Ltd

760,995‌

1,742‌

$

3,340‌

Commercial

Services

-

2

.71

%

Ashtead

Group

PLC

47,137‌

3,487‌

Cielo

SA

1,000,000‌

1,000‌

Persol

Holdings

Co

Ltd

84,000‌

1,662‌

RELX

PLC

75,000‌

2,524‌

$

8,673‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Computers

-

2

.70

%

BayCurrent

Consulting

Inc

73,000‌

$

2,357‌

CGI

Inc

(d)

19,200‌

1,951‌

SHIFT

Inc

(d)

9,000‌

2,129‌

Wiwynn

Corp

39,000‌

2,215‌

$

8,652‌

Cosmetics

&

Personal

Care

-

1

.83

%

L'Oreal

SA

12,600‌

5,860‌

Distribution

&

Wholesale

-

0

.93

%

Ferguson

PLC

12,800‌

2,059‌

IMCD

NV

6,000‌

909‌

$

2,968‌

Diversified

Financial

Services

-

2

.16

%

Amundi

SA

(e)

30,000‌

1,841‌

Deutsche

Boerse

AG

8,000‌

1,533‌

IG

Group

Holdings

PLC

183,000‌

1,663‌

Julius

Baer

Group

Ltd

26,500‌

1,877‌

$

6,914‌

Electric

-

1

.46

%

Endesa

SA

85,000‌

1,822‌

Iberdrola

SA

158,000‌

1,972‌

Shenzhen

Envicool

Technology

Co

Ltd

219,700‌

874‌

$

4,668‌

Electrical

Components

&

Equipment

-

3

.26

%

Delta

Electronics

Inc

190,000‌

2,218‌

Ecopro

BM

Co

Ltd

10,500‌

3,454‌

L&F

Co

Ltd

8,500‌

1,718‌

Schneider

Electric

SE

17,000‌

3,032‌

$

10,422‌

Electronics

-

0

.47

%

Lotes

Co

Ltd

63,000‌

1,501‌

Engineering

&

Construction

-

2

.61

%

Grupo

Aeroportuario

del

Pacifico

SAB

de

CV

48,000‌

913‌

Grupo

Aeroportuario

del

Sureste

SAB

de

CV

31,000‌

880‌

Samsung

Engineering

Co

Ltd

(d)

73,000‌

2,117‌

Sichuan

Road

and

Bridge

Group

Co

Ltd

1,506,388‌

2,084‌

Vinci

SA

20,000‌

2,349‌

$

8,343‌

Entertainment

-

2

.66

%

Evolution

AB

(e)

27,000‌

3,330‌

JYP

Entertainment

Corp

34,000‌

3,640‌

SM

Entertainment

Co

Ltd

15,000‌

1,539‌

$

8,509‌

Food

-

2

.93

%

Bid

Corp

Ltd

84,000‌

1,988‌

BIM

Birlesik

Magazalar

AS

282,321‌

2,267‌

Dino

Polska

SA

(d),(e)

18,000‌

2,005‌

Magnit

PJSC

24,200‌

—‌

Nestle

SA

25,300‌

3,100‌

$

9,360‌

Food

Service

-

1

.03

%

Compass

Group

PLC

75,000‌

1,951‌

Sodexo

SA

13,000‌

1,334‌

$

3,285‌

Gas

-

0

.71

%

ENN

Natural

Gas

Co

Ltd

880,000‌

2,266‌

Hand

&

Machine

Tools

-

0

.53

%

Schindler

Holding

AG

-

PC

7,000‌

1,700‌

Home

Builders

-

0

.30

%

Open

House

Group

Co

Ltd

25,000‌

951‌

Home

Furnishings

-

1

.09

%

Bear

Electric

Appliance

Co

Ltd

104,000‌

1,007‌

LG

Electronics

Inc

29,000‌

2,468‌

$

3,475‌

Insurance

-

6

.08

%

BB

Seguridade

Participacoes

SA

496,000‌

3,266‌

China

Pacific

Insurance

Group

Co

Ltd

465,000‌

1,253‌

Helvetia

Holding

AG

11,000‌

1,628‌

Schedule

of

Investments

International

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

113

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

iA

Financial

Corp

Inc

27,000‌

$

1,871‌

Ping

An

Insurance

Group

Co

of

China

Ltd

119,000‌

867‌

Steadfast

Group

Ltd

511,000‌

2,005‌

Sun

Life

Financial

Inc

52,500‌

2,763‌

Swiss

Life

Holding

AG

4,364‌

2,775‌

Tokio

Marine

Holdings

Inc

132,111‌

3,038‌

$

19,466‌

Internet

-

3

.84

%

Alibaba

Group

Holding

Ltd

ADR

(d)

27,000‌

2,758‌

PDD

Holdings

Inc

ADR

(d)

17,000‌

1,527‌

Perion

Network

Ltd

(d)

32,000‌

1,171‌

Tencent

Holdings

Ltd

96,000‌

4,412‌

Tencent

Music

Entertainment

Group

ADR

(d)

205,000‌

1,433‌

Vipshop

Holdings

Ltd

ADR

(d)

53,000‌

998‌

$

12,299‌

Iron

&

Steel

-

0

.42

%

Evraz

PLC

(d)

204,000‌

—‌

SSAB

AB

211,000‌

1,339‌

$

1,339‌

Leisure

Products

&

Services

-

1

.82

%

BRP

Inc

19,700‌

1,812‌

Yadea

Group

Holdings

Ltd

(e)

821,000‌

1,869‌

Yamaha

Motor

Co

Ltd

73,000‌

2,141‌

$

5,822‌

Lodging

-

0

.51

%

Galaxy

Entertainment

Group

Ltd

(d)

223,000‌

1,628‌

Machinery

-

Construction

&

Mining

-

0

.55

%

Metso

Oyj

156,000‌

1,773‌

Machinery

-

Diversified

-

2

.62

%

Atlas

Copco

AB

-

A

Shares

234,000‌

3,324‌

ATS

Corp

(d)

21,000‌

952‌

IMI

PLC

152,000‌

3,178‌

Interpump

Group

SpA

17,000‌

925‌

$

8,379‌

Media

-

0

.67

%

Informa

PLC

221,000‌

2,150‌

Mining

-

2

.51

%

BHP

Group

Ltd

87,000‌

2,708‌

Pilbara

Minerals

Ltd

616,000‌

2,015‌

Rio

Tinto

Ltd

29,000‌

2,296‌

Zijin

Mining

Group

Co

Ltd

583,000‌

1,007‌

$

8,026‌

Miscellaneous

Manufacturers

-

0

.91

%

Airtac

International

Group

41,000‌

1,220‌

Diploma

PLC

41,000‌

1,705‌

$

2,925‌

Oil

&

Gas

-

3

.68

%

BP

PLC

286,000‌

1,775‌

Eni

SpA

117,000‌

1,786‌

Gazprom

PJSC

288,000‌

—‌

LUKOIL

PJSC

20,000‌

—‌

Novatek

PJSC

67,000‌

—‌

PetroChina

Co

Ltd

1,739,000‌

1,275‌

PRIO

SA/Brazil

(d)

242,000‌

2,338‌

Shell

PLC

102,000‌

3,091‌

TotalEnergies

SE

25,000‌

1,519‌

$

11,784‌

Oil

&

Gas

Services

-

0

.33

%

Technip

Energies

NV

46,000‌

1,048‌

Packaging

&

Containers

-

0

.35

%

DS

Smith

PLC

282,000‌

1,121‌

Pharmaceuticals

-

4

.20

%

AstraZeneca

PLC

15,000‌

2,155‌

China

Resources

Sanjiu

Medical

&

Pharmaceutical

Co

Ltd

171,000‌

1,200‌

Hubei

Jumpcan

Pharmaceutical

Co

Ltd

323,942‌

1,195‌

Ipsen

SA

13,500‌

1,701‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Novo

Nordisk

A/S

30,845‌

$

4,974‌

Roche

Holding

AG

7,100‌

2,201‌

$

13,426‌

Private

Equity

-

0

.97

%

3i

Group

PLC

122,000‌

3,095‌

Real

Estate

-

0

.71

%

Sekisui

House

Ltd

(f)

112,000‌

2,285‌

Retail

-

2

.33

%

Alimentation

Couche-Tard

Inc

78,000‌

3,949‌

Cie

Financiere

Richemont

SA

15,500‌

2,496‌

Pandora

A/S

10,000‌

1,000‌

$

7,445‌

Semiconductors

-

7

.27

%

Advantest

Corp

28,400‌

3,928‌

ASML

Holding

NV

5,000‌

3,581‌

Global

Unichip

Corp

39,000‌

2,040‌

Novatek

Microelectronics

Corp

141,000‌

1,907‌

Renesas

Electronics

Corp

(d)

68,000‌

1,312‌

Samsung

Electronics

Co

Ltd

34,700‌

1,900‌

Taiwan

Semiconductor

Manufacturing

Co

Ltd

393,854‌

7,112‌

Zhejiang

Jingsheng

Mechanical

&

Electrical

Co

Ltd

170,975‌

1,480‌

$

23,260‌

Software

-

4

.42

%

Capcom

Co

Ltd

90,000‌

4,047‌

Constellation

Software

Inc/Canada

500‌

1,057‌

Descartes

Systems

Group

Inc/The

(d)

33,300‌

2,597‌

Hundsun

Technologies

Inc

240,000‌

1,383‌

Kingnet

Network

Co

Ltd

(d)

517,000‌

1,086‌

Oracle

Corp

Japan

12,000‌

841‌

Sage

Group

PLC/The

142,000‌

1,708‌

Square

Enix

Holdings

Co

Ltd

31,000‌

1,436‌

$

14,155‌

Telecommunications

-

0

.66

%

Accton

Technology

Corp

173,000‌

2,111‌

Transportation

-

0

.76

%

Jiayou

International

Logistics

Co

Ltd

312,200‌

759‌

TFI

International

Inc

13,000‌

1,668‌

$

2,427‌

TOTAL

COMMON

STOCKS

$

321,166‌

Total

Investments

$

325,293‌

Other

Assets

and

Liabilities

-  (1.68)%

(

5,371‌

)

TOTAL

NET

ASSETS

-

100.00%

$

319,922‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,406

or

0.75%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(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

$10,166

or

3.18%

of

net

assets.

(f)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,262

or

0.71%

of

net

assets.

Schedule

of

Investments

International

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

114

Portfolio

Summary

Location

Percent

France

12

.54‌

%

China

12

.10‌

%

United

Kingdom

10

.96‌

%

Japan

9

.47‌

%

Korea,

Republic

Of

6

.88‌

%

Taiwan

6

.35‌

%

Switzerland

6

.15‌

%

Canada

5

.82‌

%

Brazil

3

.12‌

%

Sweden

2

.85‌

%

Australia

2

.83‌

%

Denmark

2

.48‌

%

Spain

2

.48‌

%

Germany

2

.04‌

%

Netherlands

1

.85‌

%

Italy

1

.66‌

%

Mexico

1

.66‌

%

India

1

.52‌

%

Indonesia

1

.42‌

%

United

States

1

.29‌

%

Turkey

1

.04‌

%

Thailand

0

.85‌

%

Singapore

0

.82‌

%

Poland

0

.63‌

%

South

Africa

0

.62‌

%

Finland

0

.55‌

%

Hong

Kong

0

.51‌

%

Ireland

0

.48‌

%

Israel

0

.36‌

%

Austria

0

.35‌

%

Russian

Federation

0

.00‌

%

Other

Assets

and

Liabilities

(

1

.68‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

121,689‌

$

119,968‌

$

1,721‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

704‌

37,804‌

38,508‌

—‌

$

704‌

$

159,493‌

$

158,476‌

$

1,721‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

91‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

12‌

—‌

—‌

—‌

$

103‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

LargeCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

115

INVESTMENT

COMPANIES

-

2

.24

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.31

%

iShares

Russell

1000

Growth

ETF

123,900‌

$

35,267‌

Money

Market

Funds

-

1

.93

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

563,490‌

564‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

224,203,122‌

224,203‌

$

224,767‌

TOTAL

INVESTMENT

COMPANIES

$

260,034‌

CONVERTIBLE

PREFERRED

STOCKS

-

0

.08

%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

0

.01

%

Waymo

LLC

Series

A-2

0.00%

(d),(e),(f)

48,770‌

$

1,860‌

Chemicals

-

0

.02

%

Sila

Nano

Series

F

0.00%

(d),(e),(f)

103,620‌

2,101‌

Software

-

0

.05

%

Nuro

-

Series

C

0.00%

(d),(e),(f)

353,308‌

2,191‌

Rappi

Inc

-

Series

E

0.00%

(d),(e),(f)

103,387‌

3,723‌

$

5,914‌

TOTAL

CONVERTIBLE

PREFERRED

STOCKS

$

9,875‌

COMMON

STOCKS

-

97

.70

%

Shares

Held

Value

(000's)

Advertising

-

0

.13

%

Trade

Desk

Inc/The

(d)

166,198‌

$

15,167‌

Aerospace

&

Defense

-

0

.09

%

Boeing

Co/The

(d)

5,444‌

1,300‌

HEICO

Corp

2,785‌

490‌

HEICO

Corp

-

Class

A

5,163‌

724‌

Lockheed

Martin

Corp

16,226‌

7,243‌

Northrop

Grumman

Corp

588‌

262‌

Spirit

AeroSystems

Holdings

Inc

775‌

25‌

TransDigm

Group

Inc

638‌

574‌

$

10,618‌

Airlines

-

0

.00

%

American

Airlines

Group

Inc

(d)

17,279‌

289‌

Delta

Air

Lines

Inc

2,351‌

109‌

$

398‌

Apparel

-

0

.06

%

Crocs

Inc

(d)

4,361‌

472‌

Deckers

Outdoor

Corp

(d)

1,879‌

1,022‌

NIKE

Inc

45,484‌

5,021‌

Skechers

USA

Inc

(d)

703‌

39‌

Tapestry

Inc

1,087‌

47‌

$

6,601‌

Automobile

Manufacturers

-

0

.68

%

Rivian

Automotive

Inc

(d)

953,326‌

26,350‌

Tesla

Inc

(d)

197,993‌

52,949‌

$

79,299‌

Automobile

Parts

&

Equipment

-

0

.05

%

Allison

Transmission

Holdings

Inc

635‌

37‌

Aurora

Innovation

Inc

-

PIPE

(d),(f)

1,843,951‌

6,048‌

$

6,085‌

Banks

-

0

.01

%

First

Citizens

BancShares

Inc/NC

86‌

123‌

NU

Holdings

Ltd/Cayman

Islands

(d)

113,311‌

902‌

$

1,025‌

Beverages

-

0

.72

%

Boston

Beer

Co

Inc/The

(d)

595‌

221‌

Brown-Forman

Corp

-

A

Shares

2,786‌

200‌

Brown-Forman

Corp

-

B

Shares

10,469‌

739‌

Celsius

Holdings

Inc

(d)

3,898‌

564‌

Coca-Cola

Co/The

138,624‌

8,585‌

Constellation

Brands

Inc

1,098‌

300‌

Monster

Beverage

Corp

(d)

1,040,439‌

59,815‌

PepsiCo

Inc

68,313‌

12,806‌

$

83,230‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

-

0

.74

%

Alnylam

Pharmaceuticals

Inc

(d)

7,131‌

$

1,393‌

Amgen

Inc

26,069‌

6,104‌

Apellis

Pharmaceuticals

Inc

(d)

7,149‌

184‌

BioMarin

Pharmaceutical

Inc

(d)

1,584‌

139‌

Certara

Inc

(d)

4,684‌

91‌

Exelixis

Inc

(d)

18,266‌

360‌

Horizon

Therapeutics

Plc

(d)

14,200‌

1,424‌

Illumina

Inc

(d)

3,380‌

650‌

Incyte

Corp

(d)

9,756‌

622‌

Ionis

Pharmaceuticals

Inc

(d)

8,589‌

356‌

Karuna

Therapeutics

Inc

(d)

2,279‌

455‌

Legend

Biotech

Corp

ADR

(d)

299,015‌

22,582‌

Maravai

LifeSciences

Holdings

Inc

(d)

4,565‌

52‌

Regeneron

Pharmaceuticals

Inc

(d)

508‌

377‌

Roivant

Sciences

Ltd

(d)

16,548‌

198‌

Sarepta

Therapeutics

Inc

(d)

6,413‌

695‌

Seagen

Inc

(d)

10,052‌

1,928‌

Ultragenyx

Pharmaceutical

Inc

(d)

4,850‌

209‌

Vertex

Pharmaceuticals

Inc

(d)

136,258‌

48,009‌

$

85,828‌

Building

Materials

-

0

.02

%

Armstrong

World

Industries

Inc

940‌

73‌

Eagle

Materials

Inc

1,687‌

311‌

Trane

Technologies

PLC

4,821‌

961‌

Trex

Co

Inc

(d)

7,455‌

515‌

Vulcan

Materials

Co

2,093‌

462‌

$

2,322‌

Chemicals

-

0

.08

%

Axalta

Coating

Systems

Ltd

(d)

1,701‌

54‌

Ecolab

Inc

13,868‌

2,540‌

FMC

Corp

1,337‌

129‌

Linde

PLC

3,312‌

1,294‌

PPG

Industries

Inc

4,229‌

609‌

RPM

International

Inc

1,742‌

180‌

Sherwin-Williams

Co/The

14,217‌

3,931‌

Valvoline

Inc

3,227‌

122‌

$

8,859‌

Commercial

Services

-

4

.70

%

Affirm

Holdings

Inc

(d),(g)

379,624‌

7,361‌

Automatic

Data

Processing

Inc

25,594‌

6,328‌

Avis

Budget

Group

Inc

(d)

505‌

111‌

Block

Inc

(d)

14,466‌

1,165‌

Booz

Allen

Hamilton

Holding

Corp

9,324‌

1,129‌

Bright

Horizons

Family

Solutions

Inc

(d)

513‌

50‌

Cintas

Corp

279,788‌

140,465‌

CoStar

Group

Inc

(d)

1,585,441‌

133,130‌

Equifax

Inc

6,048‌

1,234‌

Euronet

Worldwide

Inc

(d)

1,694‌

149‌

FleetCor

Technologies

Inc

(d)

4,835‌

1,204‌

FTI

Consulting

Inc

(d)

444‌

78‌

Gartner

Inc

(d)

5,506‌

1,947‌

Global

Payments

Inc

449,158‌

49,520‌

Grand

Canyon

Education

Inc

(d)

605‌

66‌

H&R

Block

Inc

7,056‌

237‌

MarketAxess

Holdings

Inc

2,657‌

715‌

Moody's

Corp

10,385‌

3,663‌

Morningstar

Inc

1,844‌

425‌

Paylocity

Holding

Corp

(d)

128,704‌

29,196‌

PayPal

Holdings

Inc

(d)

72,990‌

5,534‌

Quanta

Services

Inc

2,714‌

547‌

RB

Global

Inc

9,964‌

642‌

Rollins

Inc

15,850‌

647‌

S&P

Global

Inc

395,154‌

155,892‌

Service

Corp

International/US

3,884‌

259‌

Shift4

Payments

Inc

(d)

3,897‌

269‌

Toast

Inc

(d)

25,398‌

561‌

U-Haul

Holding

Co

2,224‌

127‌

U-Haul

Holding

Co

566‌

34‌

United

Rentals

Inc

1,010‌

469‌

Schedule

of

Investments

LargeCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

116

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

Verisk

Analytics

Inc

10,360‌

$

2,372‌

WEX

Inc

(d)

1,406‌

266‌

WillScot

Mobile

Mini

Holdings

Corp

(d)

3,556‌

171‌

$

545,963‌

Computers

-

6

.03

%

Accenture

PLC

-

Class

A

45,342‌

14,344‌

Apple

Inc

3,442,129‌

676,206‌

Crowdstrike

Holdings

Inc

(d)

15,100‌

2,441‌

EPAM

Systems

Inc

(d)

3,988‌

944‌

Fortinet

Inc

(d)

47,112‌

3,662‌

Genpact

Ltd

3,204‌

116‌

Globant

SA

(d)

2,957‌

517‌

HP

Inc

12,646‌

415‌

KBR

Inc

3,532‌

217‌

NetApp

Inc

6,106‌

476‌

Pure

Storage

Inc

(d)

15,770‌

583‌

Zscaler

Inc

(d)

6,258‌

1,004‌

$

700,925‌

Consumer

Products

-

0

.05

%

Avery

Dennison

Corp

1,907‌

351‌

Church

&

Dwight

Co

Inc

15,696‌

1,502‌

Clorox

Co/The

8,869‌

1,343‌

Kimberly-Clark

Corp

22,743‌

2,936‌

$

6,132‌

Cosmetics

&

Personal

Care

-

1

.24

%

Estee

Lauder

Cos

Inc/The

774,346‌

139,383‌

Procter

&

Gamble

Co/The

31,763‌

4,964‌

$

144,347‌

Distribution

&

Wholesale

-

0

.07

%

Copart

Inc

(d)

30,769‌

2,720‌

Fastenal

Co

30,677‌

1,798‌

Ferguson

PLC

800‌

129‌

Pool

Corp

2,725‌

1,048‌

SiteOne

Landscape

Supply

Inc

(d)

1,029‌

175‌

Watsco

Inc

595‌

225‌

WW

Grainger

Inc

3,202‌

2,365‌

$

8,460‌

Diversified

Financial

Services

-

4

.66

%

American

Express

Co

13,925‌

2,352‌

Ameriprise

Financial

Inc

7,542‌

2,628‌

Apollo

Global

Management

Inc

37,418‌

3,057‌

Blue

Owl

Capital

Inc

4,778‌

59‌

Houlihan

Lokey

Inc

321‌

32‌

LPL

Financial

Holdings

Inc

5,595‌

1,283‌

Mastercard

Inc

889,468‌

350,700‌

Rocket

Cos

Inc

(d)

4,614‌

50‌

SLM

Corp

6,813‌

110‌

TPG

Inc

1,335‌

39‌

Tradeweb

Markets

Inc

449,158‌

36,737‌

UWM

Holdings

Corp

(g)

6,483‌

43‌

Visa

Inc

609,252‌

144,838‌

Western

Union

Co/The

3,948‌

48‌

XP

Inc

(d)

1,980‌

53‌

$

542,029‌

Electric

-

0

.01

%

AES

Corp/The

29,263‌

633‌

Vistra

Corp

7,837‌

220‌

$

853‌

Electrical

Components

&

Equipment

-

1

.13

%

ChargePoint

Holdings

Inc

(d),(g)

16,587‌

144‌

Generac

Holdings

Inc

(d)

854,432‌

131,326‌

Universal

Display

Corp

1,517‌

221‌

$

131,691‌

Electronics

-

0

.72

%

Agilent

Technologies

Inc

17,223‌

2,097‌

Allegion

plc

5,820‌

680‌

Amphenol

Corp

849,422‌

75,013‌

Honeywell

International

Inc

6,166‌

1,197‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electronics

(continued)

Hubbell

Inc

1,752‌

$

547‌

Jabil

Inc

5,826‌

645‌

Keysight

Technologies

Inc

(d)

3,260‌

525‌

Mettler-Toledo

International

Inc

(d)

1,562‌

1,964‌

National

Instruments

Corp

7,346‌

433‌

Vontier

Corp

3,774‌

117‌

$

83,218‌

Energy

-

Alternate

Sources

-

0

.01

%

Enphase

Energy

Inc

(d)

9,543‌

1,449‌

Engineering

&

Construction

-

0

.00

%

EMCOR

Group

Inc

1,164‌

250‌

TopBuild

Corp

(d)

150‌

41‌

$

291‌

Entertainment

-

0

.09

%

Caesars

Entertainment

Inc

(d)

6,035‌

356‌

Churchill

Downs

Inc

5,098‌

590‌

DraftKings

Inc

(d)

29,976‌

953‌

Live

Nation

Entertainment

Inc

(d)

91,742‌

8,051‌

Vail

Resorts

Inc

287‌

67‌

$

10,017‌

Environmental

Control

-

0

.04

%

Tetra

Tech

Inc

691‌

117‌

Waste

Management

Inc

26,234‌

4,297‌

$

4,414‌

Food

-

0

.05

%

Albertsons

Cos

Inc

2,571‌

56‌

Hershey

Co/The

7,843‌

1,814‌

Lamb

Weston

Holdings

Inc

9,675‌

1,003‌

Performance

Food

Group

Co

(d)

5,164‌

308‌

Sysco

Corp

36,402‌

2,778‌

$

5,959‌

Hand

&

Machine

Tools

-

0

.01

%

Lincoln

Electric

Holdings

Inc

3,706‌

744‌

MSA

Safety

Inc

450‌

75‌

$

819‌

Healthcare

-

Products

-

7

.91

%

10X

Genomics

Inc

(d)

6,583‌

415‌

Abbott

Laboratories

7,829‌

872‌

Align

Technology

Inc

(d)

336,850‌

127,292‌

Bio-Techne

Corp

10,303‌

859‌

Bruker

Corp

7,614‌

523‌

Edwards

Lifesciences

Corp

(d)

1,676,963‌

137,628‌

Exact

Sciences

Corp

(d)

4,443‌

433‌

GE

HealthCare

Technologies

Inc

2,126‌

166‌

IDEXX

Laboratories

Inc

(d)

5,906‌

3,276‌

Inspire

Medical

Systems

Inc

(d)

2,061‌

593‌

Insulet

Corp

(d)

32,487‌

8,991‌

Intuitive

Surgical

Inc

(d)

1,011,218‌

328,040‌

Masimo

Corp

(d)

3,407‌

417‌

Natera

Inc

(d)

7,423‌

336‌

Novocure

Ltd

(d)

6,837‌

223‌

Penumbra

Inc

(d)

68,540‌

20,792‌

Repligen

Corp

(d)

1,762‌

302‌

ResMed

Inc

10,413‌

2,315‌

Shockwave

Medical

Inc

(d)

2,600‌

678‌

Stryker

Corp

350,966‌

99,467‌

Tandem

Diabetes

Care

Inc

(d)

628‌

22‌

Thermo

Fisher

Scientific

Inc

333,722‌

183,100‌

Waters

Corp

(d)

4,200‌

1,160‌

West

Pharmaceutical

Services

Inc

5,307‌

1,953‌

$

919,853‌

Healthcare

-

Services

-

2

.37

%

agilon

health

Inc

(d)

16,205‌

310‌

Chemed

Corp

752‌

392‌

DaVita

Inc

(d)

3,732‌

381‌

Elevance

Health

Inc

2,264‌

1,068‌

Encompass

Health

Corp

483‌

32‌

Ginkgo

Bioworks

Holdings

Inc

(d),(g)

12,081‌

30‌

Schedule

of

Investments

LargeCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

117

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Services

(continued)

HCA

Healthcare

Inc

3,037‌

$

829‌

Humana

Inc

102,802‌

46,963‌

ICON

PLC

(d)

871‌

219‌

IQVIA

Holdings

Inc

(d)

12,347‌

2,763‌

Medpace

Holdings

Inc

(d)

1,671‌

423‌

Molina

Healthcare

Inc

(d)

2,257‌

687‌

Sotera

Health

Co

(d)

6,455‌

122‌

UnitedHealth

Group

Inc

437,050‌

221,309‌

$

275,528‌

Home

Builders

-

0

.00

%

NVR

Inc

(d)

21‌

132‌

Home

Furnishings

-

0

.00

%

Tempur

Sealy

International

Inc

2,430‌

108‌

Housewares

-

0

.00

%

Scotts

Miracle-Gro

Co/The

2,961‌

207‌

Insurance

-

1

.18

%

Arch

Capital

Group

Ltd

(d)

3,619‌

281‌

Arthur

J

Gallagher

&

Co

853‌

183‌

Brighthouse

Financial

Inc

(d)

678‌

36‌

Brown

&

Brown

Inc

6,631‌

467‌

Equitable

Holdings

Inc

25,628‌

735‌

Everest

Group

Ltd

412‌

149‌

Kinsale

Capital

Group

Inc

1,566‌

584‌

Lincoln

National

Corp

2,349‌

66‌

Marsh

&

McLennan

Cos

Inc

28,451‌

5,361‌

Primerica

Inc

1,689‌

359‌

Progressive

Corp/The

1,020,061‌

128,507‌

RenaissanceRe

Holdings

Ltd

936‌

175‌

RLI

Corp

638‌

85‌

Ryan

Specialty

Holdings

Inc

(d)

6,652‌

288‌

Willis

Towers

Watson

PLC

956‌

202‌

$

137,478‌

Internet

-

17

.96

%

Airbnb

Inc

(d)

29,082‌

4,426‌

Alphabet

Inc

-

A

Shares

(d)

3,072,198‌

407,742‌

Alphabet

Inc

-

C

Shares

(d)

1,838,423‌

244,713‌

Amazon.com

Inc

(d)

4,755,984‌

635,780‌

Booking

Holdings

Inc

(d)

26,898‌

79,908‌

CDW

Corp/DE

9,020‌

1,687‌

Chewy

Inc

(d)

2,564,872‌

86,949‌

Coupang

Inc

(d)

1,511,437‌

27,433‌

DoorDash

Inc

-

Class

A

(d)

16,942‌

1,538‌

eBay

Inc

2,380‌

106‌

Etsy

Inc

(d)

4,938‌

502‌

Expedia

Group

Inc

(d)

7,540‌

924‌

Gen

Digital

Inc

6,201‌

121‌

GoDaddy

Inc

(d)

6,700‌

517‌

IAC

Inc

(d)

198,694‌

13,829‌

Lyft

Inc

(d)

21,980‌

279‌

Match

Group

Inc

(d)

2,197,255‌

102,194‌

Meta

Platforms

Inc

(d)

775,626‌

247,115‌

Netflix

Inc

(d)

174,227‌

76,480‌

Okta

Inc

(d)

692‌

53‌

Palo

Alto

Networks

Inc

(d)

21,397‌

5,348‌

Pinterest

Inc

(d)

42,540‌

1,233‌

Roku

Inc

(d)

1,098‌

106‌

Spotify

Technology

SA

(d)

221,423‌

33,083‌

Uber

Technologies

Inc

(d)

2,343,967‌

115,933‌

VeriSign

Inc

(d)

347‌

73‌

Wayfair

Inc

(d)

2,067‌

161‌

$

2,088,233‌

Leisure

Products

&

Services

-

0

.15

%

Brunswick

Corp/DE

409‌

35‌

Norwegian

Cruise

Line

Holdings

Ltd

(d)

7,307‌

161‌

Peloton

Interactive

Inc

(d)

1,705,460‌

16,561‌

Planet

Fitness

Inc

(d)

2,917‌

197‌

Polaris

Inc

343‌

47‌

Royal

Caribbean

Cruises

Ltd

(d)

5,053‌

551‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Leisure

Products

&

Services

(continued)

YETI

Holdings

Inc

(d)

5,898‌

$

251‌

$

17,803‌

Lodging

-

0

.06

%

Choice

Hotels

International

Inc

2,149‌

281‌

Hilton

Worldwide

Holdings

Inc

8,448‌

1,314‌

Las

Vegas

Sands

Corp

22,119‌

1,323‌

Marriott

International

Inc/MD

18,105‌

3,654‌

Travel

+

Leisure

Co

2,414‌

98‌

Wyndham

Hotels

&

Resorts

Inc

430‌

33‌

Wynn

Resorts

Ltd

457‌

50‌

$

6,753‌

Machinery

-

Construction

&

Mining

-

0

.06

%

BWX

Technologies

Inc

1,122‌

77‌

Caterpillar

Inc

27,796‌

7,371‌

Vertiv

Holdings

Co

1,696‌

44‌

$

7,492‌

Machinery

-

Diversified

-

1

.83

%

Deere

&

Co

18,298‌

7,861‌

Graco

Inc

4,903‌

389‌

IDEX

Corp

606,474‌

136,948‌

Ingersoll

Rand

Inc

972,436‌

63,471‌

Otis

Worldwide

Corp

1,752‌

159‌

Rockwell

Automation

Inc

8,242‌

2,772‌

Toro

Co/The

7,462‌

759‌

Xylem

Inc/NY

2,026‌

228‌

$

212,587‌

Media

-

0

.04

%

Cable

One

Inc

31‌

23‌

Charter

Communications

Inc

(d)

7,356‌

2,981‌

FactSet

Research

Systems

Inc

2,752‌

1,197‌

Liberty

Broadband

Corp

-

A

Shares

(d)

541‌

48‌

Liberty

Broadband

Corp

-

C

Shares

(d)

1,731‌

154‌

Nexstar

Media

Group

Inc

842‌

157‌

World

Wrestling

Entertainment

Inc

2,848‌

299‌

$

4,859‌

Metal

Fabrication

&

Hardware

-

0

.01

%

Advanced

Drainage

Systems

Inc

4,241‌

517‌

Valmont

Industries

Inc

192‌

51‌

$

568‌

Mining

-

0

.00

%

Southern

Copper

Corp

6,116‌

535‌

Miscellaneous

Manufacturers

-

0

.05

%

A

O

Smith

Corp

944‌

69‌

Axon

Enterprise

Inc

(d)

4,988‌

927‌

Donaldson

Co

Inc

3,602‌

226‌

Illinois

Tool

Works

Inc

17,737‌

4,671‌

$

5,893‌

Office

&

Business

Equipment

-

0

.00

%

Zebra

Technologies

Corp

(d)

664‌

205‌

Oil

&

Gas

-

0

.03

%

APA

Corp

19,710‌

798‌

Hess

Corp

11,125‌

1,688‌

Ovintiv

Inc

7,708‌

355‌

Texas

Pacific

Land

Corp

415‌

625‌

$

3,466‌

Oil

&

Gas

Services

-

0

.14

%

Halliburton

Co

12,955‌

507‌

Schlumberger

NV

266,100‌

15,524‌

$

16,031‌

Packaging

&

Containers

-

0

.01

%

Ardagh

Metal

Packaging

SA

3,421‌

13‌

Graphic

Packaging

Holding

Co

11,681‌

283‌

Sealed

Air

Corp

5,703‌

260‌

$

556‌

Pharmaceuticals

-

5

.15

%

AbbVie

Inc

126,630‌

18,941‌

AmerisourceBergen

Corp

11,593‌

2,167‌

Becton

Dickinson

&

Co

243,967‌

67,974‌

Schedule

of

Investments

LargeCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

118

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Cardinal

Health

Inc

9,472‌

$

866‌

Cigna

Group/The

465,471‌

137,360‌

Dexcom

Inc

(d)

841,736‌

104,847‌

Eli

Lilly

&

Co

240,877‌

109,491‌

Jazz

Pharmaceuticals

PLC

(d)

2,267‌

296‌

McKesson

Corp

3,745‌

1,507‌

Merck

&

Co

Inc

33,540‌

3,577‌

Neurocrine

Biosciences

Inc

(d)

6,929‌

706‌

Zoetis

Inc

804,145‌

151,252‌

$

598,984‌

Pipelines

-

0

.04

%

Antero

Midstream

Corp

8,120‌

97‌

Cheniere

Energy

Inc

17,392‌

2,815‌

New

Fortress

Energy

Inc

4,644‌

133‌

ONEOK

Inc

1,767‌

118‌

Targa

Resources

Corp

16,034‌

1,315‌

$

4,478‌

Private

Equity

-

0

.06

%

Ares

Management

Corp

11,492‌

1,140‌

Blackstone

Inc

50,617‌

5,304‌

KKR

&

Co

Inc

11,397‌

677‌

$

7,121‌

REITs

-

1

.31

%

American

Tower

Corp

33,406‌

6,357‌

Crown

Castle

Inc

3,293‌

357‌

Equinix

Inc

3,364‌

2,725‌

Equity

LifeStyle

Properties

Inc

4,168‌

297‌

Iron

Mountain

Inc

10,283‌

631‌

Lamar

Advertising

Co

5,035‌

497‌

Public

Storage

6,533‌

1,841‌

SBA

Communications

Corp

633,459‌

138,696‌

Simon

Property

Group

Inc

5,076‌

632‌

Sun

Communities

Inc

1,921‌

250‌

UDR

Inc

1,319‌

54‌

$

152,337‌

Retail

-

4

.72

%

AutoZone

Inc

(d)

1,102‌

2,735‌

Best

Buy

Co

Inc

1,917‌

159‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

3,302‌

219‌

Burlington

Stores

Inc

(d)

4,633‌

823‌

CarMax

Inc

(d)

637‌

53‌

Casey's

General

Stores

Inc

386‌

98‌

Chipotle

Mexican

Grill

Inc

(d)

22,745‌

44,632‌

Costco

Wholesale

Corp

353,189‌

198,023‌

Darden

Restaurants

Inc

4,045‌

683‌

Dick's

Sporting

Goods

Inc

320‌

45‌

Dollar

General

Corp

15,716‌

2,654‌

Domino's

Pizza

Inc

2,538‌

1,007‌

Five

Below

Inc

(d)

3,928‌

818‌

Floor

&

Decor

Holdings

Inc

(d)

7,461‌

857‌

Freshpet

Inc

(d)

903‌

66‌

Home

Depot

Inc/The

72,674‌

24,261‌

Lowe's

Cos

Inc

31,392‌

7,354‌

Lululemon

Athletica

Inc

(d)

356,162‌

134,818‌

McDonald's

Corp

21,615‌

6,338‌

Murphy

USA

Inc

1,343‌

412‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

1,419‌

103‌

O'Reilly

Automotive

Inc

(d)

3,714‌

3,438‌

RH

(d)

195‌

76‌

Ross

Stores

Inc

802,347‌

91,981‌

Starbucks

Corp

80,958‌

8,223‌

Target

Corp

33,003‌

4,504‌

Texas

Roadhouse

Inc

4,792‌

535‌

TJX

Cos

Inc/The

82,644‌

7,151‌

Tractor

Supply

Co

7,855‌

1,759‌

Ulta

Beauty

Inc

(d)

3,587‌

1,596‌

Victoria's

Secret

&

Co

(d)

3,912‌

80‌

Wendy's

Co/The

11,418‌

245‌

Williams-Sonoma

Inc

606‌

84‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Wingstop

Inc

2,147‌

$

362‌

Yum!

Brands

Inc

17,657‌

2,431‌

$

548,623‌

Semiconductors

-

8

.42

%

Advanced

Micro

Devices

Inc

(d)

375,570‌

42,965‌

Allegro

MicroSystems

Inc

(d)

4,398‌

227‌

Applied

Materials

Inc

51,187‌

7,759‌

ASML

Holding

NV

-

NY

Reg

Shares

102,109‌

73,152‌

Broadcom

Inc

29,290‌

26,322‌

Entegris

Inc

560‌

61‌

KLA

Corp

9,843‌

5,059‌

Lam

Research

Corp

9,116‌

6,550‌

Lattice

Semiconductor

Corp

(d)

9,766‌

888‌

Marvell

Technology

Inc

506,800‌

33,008‌

Microchip

Technology

Inc

27,508‌

2,584‌

Monolithic

Power

Systems

Inc

3,254‌

1,821‌

NVIDIA

Corp

1,340,411‌

626,361‌

NXP

Semiconductors

NV

618,038‌

137,810‌

QUALCOMM

Inc

69,810‌

9,227‌

Teradyne

Inc

9,478‌

1,070‌

Texas

Instruments

Inc

26,579‌

4,784‌

$

979,648‌

Software

-

24

.25

%

Adobe

Inc

(d)

459,853‌

251,159‌

Alteryx

Inc

(d)

4,018‌

167‌

ANSYS

Inc

(d)

5,135‌

1,757‌

AppLovin

Corp

(d)

4,202‌

132‌

Atlassian

Corp

(d)

800,145‌

145,578‌

Autodesk

Inc

(d)

668,203‌

141,652‌

Bentley

Systems

Inc

12,771‌

688‌

Broadridge

Financial

Solutions

Inc

7,106‌

1,193‌

Cadence

Design

Systems

Inc

(d)

287,465‌

67,270‌

Ceridian

HCM

Holding

Inc

(d)

912‌

65‌

Cloudflare

Inc

(d)

20,623‌

1,418‌

Confluent

Inc

(d)

13,268‌

458‌

Datadog

Inc

(d)

19,585‌

2,286‌

DocuSign

Inc

(d)

14,503‌

781‌

DoubleVerify

Holdings

Inc

(d)

8,061‌

339‌

Doximity

Inc

(d)

3,169‌

113‌

Dropbox

Inc

-

A

Shares

(d)

16,666‌

449‌

Dynatrace

Inc

(d)

707,040‌

38,668‌

Elastic

NV

(d)

5,575‌

370‌

Fair

Isaac

Corp

(d)

1,738‌

1,456‌

Fiserv

Inc

(d)

1,244,718‌

157,096‌

Five9

Inc

(d)

5,097‌

447‌

Gitlab

Inc

(d)

3,504‌

174‌

HashiCorp

Inc

(d)

4,555‌

135‌

HubSpot

Inc

(d)

3,275‌

1,901‌

Informatica

Inc

(d)

469‌

9‌

Intuit

Inc

780,056‌

399,154‌

Jack

Henry

&

Associates

Inc

1,656‌

278‌

Magic

Leap

Inc

(d),(e),(f)

10,706‌

206‌

Manhattan

Associates

Inc

(d)

4,419‌

842‌

Microsoft

Corp

3,173,203‌

1,065,943‌

MongoDB

Inc

(d)

33,977‌

14,386‌

MSCI

Inc

2,790‌

1,529‌

nCino

Inc

(d)

811‌

26‌

New

Relic

Inc

(d)

3,554‌

298‌

Nutanix

Inc

(d)

4,006‌

121‌

Oracle

Corp

44,847‌

5,257‌

Palantir

Technologies

Inc

(d)

134,341‌

2,665‌

Paychex

Inc

23,112‌

2,900‌

Paycom

Software

Inc

3,704‌

1,366‌

Paycor

HCM

Inc

(d)

1,817‌

49‌

Pegasystems

Inc

2,504‌

132‌

Playtika

Holding

Corp

(d)

1,438‌

17‌

Procore

Technologies

Inc

(d)

5,626‌

427‌

PTC

Inc

(d)

4,080‌

595‌

RingCentral

Inc

(d)

5,636‌

233‌

Schedule

of

Investments

LargeCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

119

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

ROBLOX

Corp

(d)

32,921‌

$

1,292‌

Salesforce

Inc

(d)

171,513‌

38,592‌

SentinelOne

Inc

(d)

1,814‌

30‌

ServiceNow

Inc

(d)

535,217‌

312,031‌

Smartsheet

Inc

(d)

8,378‌

372‌

Snowflake

Inc

-

Class

A

(d)

22,231‌

3,951‌

Splunk

Inc

(d)

11,541‌

1,250‌

Stripe

Inc

-

Class

B

(d),(e),(f)

114,126‌

2,501‌

Synopsys

Inc

(d)

10,899‌

4,924‌

Teradata

Corp

(d)

7,291‌

415‌

Twilio

Inc

(d)

2,005‌

132‌

Tyler

Technologies

Inc

(d)

2,258‌

896‌

UiPath

Inc

(d)

20,657‌

374‌

Unity

Software

Inc

(d)

8,122‌

372‌

Veeva

Systems

Inc

(d)

661,583‌

135,108‌

VMware

Inc

(d)

15,432‌

2,433‌

Workday

Inc

(d)

14,191‌

3,365‌

ZoomInfo

Technologies

Inc

(d)

11,566‌

296‌

$

2,820,519‌

Telecommunications

-

0

.46

%

Arista

Networks

Inc

(d)

17,989‌

2,790‌

Iridium

Communications

Inc

8,367‌

440‌

Motorola

Solutions

Inc

10,904‌

3,125‌

T-Mobile

US

Inc

(d)

339,300‌

46,745‌

Ubiquiti

Inc

252‌

45‌

$

53,145‌

Transportation

-

0

.10

%

CH

Robinson

Worldwide

Inc

6,421‌

643‌

CSX

Corp

16,172‌

539‌

Expeditors

International

of

Washington

Inc

1,491‌

190‌

JB

Hunt

Transport

Services

Inc

1,165‌

238‌

Landstar

System

Inc

2,170‌

442‌

Old

Dominion

Freight

Line

Inc

6,613‌

2,774‌

Saia

Inc

(d)

211‌

89‌

Union

Pacific

Corp

18,724‌

4,344‌

United

Parcel

Service

Inc

14,397‌

2,694‌

$

11,953‌

TOTAL

COMMON

STOCKS

$

11,361,094‌

Total

Investments

$

11,631,003‌

Other

Assets

and

Liabilities

-  (0.02)%

(

1,995‌

)

TOTAL

NET

ASSETS

-

100.00%

$

11,629,008‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$564

or

0.00%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

(g)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$603

or

0.01%

of

net

assets.

Portfolio

Summary

Sector

Percent

Technology

38

.75‌

%

Consumer,

Non-cyclical

22

.93‌

%

Communications

18

.59‌

%

Financial

7

.22‌

%

Consumer,

Cyclical

5

.89‌

%

Industrial

4

.07‌

%

Money

Market

Funds

1

.93‌

%

Exchange-Traded

Funds

0

.31‌

%

Energy

0

.22‌

%

Basic

Materials

0

.10‌

%

Utilities

0

.01‌

%

Other

Assets

and

Liabilities

(

0

.02‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

2,438,965‌

$

2,214,762‌

$

224,203‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

186,380‌

315,897‌

502,277‌

—‌

$

186,380‌

$

2,754,862‌

$

2,717,039‌

$

224,203‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

7,077‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

755‌

—‌

—‌

—‌

$

7,832‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

LargeCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

120

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Aurora

Innovation

Inc

-

PIPE

07/19/2023

$

4,979‌

$

6,048‌

0.05%

Magic

Leap

Inc

01/20/2016-10/12/2017

5,204‌

206‌

0.00%

Nuro

-

Series

C  

0.00%

10/30/2020

4,612‌

2,191‌

0.02%

Rappi

Inc

-

Series

E  

0.00%

09/08/2020

6,177‌

3,723‌

0.03%

Sila

Nano

Series

F  

0.00%

01/07/2021

4,277‌

2,101‌

0.02%

Stripe

Inc

-

Class

B

12/17/2019

1,791‌

2,501‌

0.02%

Waymo

LLC

Series

A-2  

0.00%

05/08/2020

4,188‌

1,860‌

0.01%

Total

$

18,630‌

0.15%

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

September

2023

Long

125‌

$

28,841‌

$

1,140‌

Total

$

1,140‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

121

INVESTMENT

COMPANIES

-

2

.36

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.33

%

iShares

Core

S&P

500

ETF

47,300‌

$

21,767‌

Money

Market

Funds

-

2

.03

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

70,989‌

71‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

135,903,316‌

135,903‌

$

135,974‌

TOTAL

INVESTMENT

COMPANIES

$

157,741‌

COMMON

STOCKS

-

97

.46

%

Shares

Held

Value

(000's)

Advertising

-

0

.08

%

Interpublic

Group

of

Cos

Inc/The

65,739‌

$

2,250‌

Omnicom

Group

Inc

33,976‌

2,875‌

$

5,125‌

Aerospace

&

Defense

-

1

.47

%

Boeing

Co/The

(d)

96,298‌

23,001‌

General

Dynamics

Corp

38,307‌

8,565‌

Howmet

Aerospace

Inc

62,637‌

3,203‌

L3Harris

Technologies

Inc

32,262‌

6,113‌

Lockheed

Martin

Corp

38,383‌

17,133‌

Northrop

Grumman

Corp

24,309‌

10,817‌

RTX

Corp

248,818‌

21,879‌

TransDigm

Group

Inc

8,885‌

7,994‌

$

98,705‌

Agriculture

-

0

.76

%

Altria

Group

Inc

303,972‌

13,806‌

Archer-Daniels-Midland

Co

92,747‌

7,880‌

Bunge

Ltd

25,644‌

2,787‌

Philip

Morris

International

Inc

264,322‌

26,358‌

$

50,831‌

Airlines

-

0

.22

%

Alaska

Air

Group

Inc

(d)

21,781‌

1,059‌

American

Airlines

Group

Inc

(d)

111,175‌

1,862‌

Delta

Air

Lines

Inc

109,447‌

5,063‌

Southwest

Airlines

Co

101,334‌

3,462‌

United

Airlines

Holdings

Inc

(d)

55,849‌

3,033‌

$

14,479‌

Apparel

-

0

.40

%

NIKE

Inc

209,813‌

23,161‌

Ralph

Lauren

Corp

6,998‌

919‌

Tapestry

Inc

39,474‌

1,703‌

VF

Corp

56,256‌

1,115‌

$

26,898‌

Automobile

Manufacturers

-

2

.31

%

Cummins

Inc

24,106‌

6,287‌

Ford

Motor

Co

669,222‌

8,840‌

General

Motors

Co

236,724‌

9,083‌

PACCAR

Inc

88,989‌

7,665‌

Tesla

Inc

(d)

458,772‌

122,689‌

$

154,564‌

Automobile

Parts

&

Equipment

-

0

.10

%

Aptiv

PLC

(d)

46,065‌

5,044‌

BorgWarner

Inc

39,911‌

1,856‌

$

6,900‌

Banks

-

3

.90

%

Bank

of

America

Corp

1,180,645‌

37,781‌

Bank

of

New

York

Mellon

Corp/The

122,288‌

5,547‌

Citigroup

Inc

331,510‌

15,800‌

Citizens

Financial

Group

Inc

82,419‌

2,659‌

Comerica

Inc

22,421‌

1,210‌

Fifth

Third

Bancorp

115,920‌

3,373‌

Goldman

Sachs

Group

Inc/The

56,613‌

20,147‌

Huntington

Bancshares

Inc/OH

245,831‌

3,009‌

JPMorgan

Chase

&

Co

497,635‌

78,606‌

KeyCorp

159,265‌

1,960‌

M&T

Bank

Corp

28,246‌

3,950‌

Morgan

Stanley

221,835‌

20,311‌

Northern

Trust

Corp

35,478‌

2,842‌

PNC

Financial

Services

Group

Inc/The

67,964‌

9,304‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

Regions

Financial

Corp

159,784‌

$

3,255‌

State

Street

Corp

56,922‌

4,123‌

Truist

Financial

Corp

226,811‌

7,535‌

US

Bancorp

237,546‌

9,426‌

Wells

Fargo

&

Co

638,964‌

29,495‌

Zions

Bancorp

NA

25,221‌

965‌

$

261,298‌

Beverages

-

1

.63

%

Brown-Forman

Corp

-

B

Shares

31,145‌

2,199‌

Coca-Cola

Co/The

662,785‌

41,046‌

Constellation

Brands

Inc

27,459‌

7,491‌

Keurig

Dr

Pepper

Inc

143,430‌

4,878‌

Molson

Coors

Beverage

Co

31,971‌

2,231‌

Monster

Beverage

Corp

(d)

130,117‌

7,480‌

PepsiCo

Inc

234,606‌

43,979‌

$

109,304‌

Biotechnology

-

1

.42

%

Amgen

Inc

90,990‌

21,305‌

Biogen

Inc

(d)

24,647‌

6,660‌

Bio-Rad

Laboratories

Inc

(d)

3,636‌

1,474‌

Corteva

Inc

121,055‌

6,831‌

Gilead

Sciences

Inc

212,410‌

16,173‌

Illumina

Inc

(d)

26,922‌

5,173‌

Incyte

Corp

(d)

31,531‌

2,009‌

Moderna

Inc

(d)

55,828‌

6,569‌

Regeneron

Pharmaceuticals

Inc

(d)

18,372‌

13,630‌

Vertex

Pharmaceuticals

Inc

(d)

43,858‌

15,453‌

$

95,277‌

Building

Materials

-

0

.56

%

Carrier

Global

Corp

142,163‌

8,466‌

Johnson

Controls

International

plc

116,837‌

8,126‌

Martin

Marietta

Materials

Inc

10,553‌

4,712‌

Masco

Corp

38,330‌

2,326‌

Mohawk

Industries

Inc

(d)

9,000‌

957‌

Trane

Technologies

PLC

38,835‌

7,745‌

Vulcan

Materials

Co

22,658‌

4,996‌

$

37,328‌

Chemicals

-

1

.56

%

Air

Products

and

Chemicals

Inc

37,825‌

11,549‌

Albemarle

Corp

19,981‌

4,242‌

Celanese

Corp

17,043‌

2,137‌

CF

Industries

Holdings

Inc

33,193‌

2,724‌

Dow

Inc

120,448‌

6,802‌

DuPont

de

Nemours

Inc

78,165‌

6,068‌

Eastman

Chemical

Co

20,290‌

1,736‌

Ecolab

Inc

42,181‌

7,725‌

FMC

Corp

21,293‌

2,049‌

International

Flavors

&

Fragrances

Inc

43,439‌

3,675‌

Linde

PLC

83,374‌

32,572‌

LyondellBasell

Industries

NV

43,204‌

4,271‌

Mosaic

Co/The

56,556‌

2,305‌

PPG

Industries

Inc

40,088‌

5,769‌

Sherwin-Williams

Co/The

39,964‌

11,050‌

$

104,674‌

Commercial

Services

-

1

.71

%

Automatic

Data

Processing

Inc

70,351‌

17,395‌

Cintas

Corp

14,720‌

7,390‌

CoStar

Group

Inc

(d)

69,569‌

5,842‌

Equifax

Inc

20,884‌

4,262‌

FleetCor

Technologies

Inc

(d)

12,573‌

3,130‌

Gartner

Inc

(d)

13,459‌

4,759‌

Global

Payments

Inc

44,608‌

4,918‌

MarketAxess

Holdings

Inc

6,414‌

1,727‌

Moody's

Corp

26,873‌

9,480‌

PayPal

Holdings

Inc

(d)

189,995‌

14,405‌

Quanta

Services

Inc

24,721‌

4,984‌

Robert

Half

Inc

18,350‌

1,361‌

Rollins

Inc

39,440‌

1,610‌

S&P

Global

Inc

55,855‌

22,035‌

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

122

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

United

Rentals

Inc

11,705‌

$

5,439‌

Verisk

Analytics

Inc

24,657‌

5,645‌

$

114,382‌

Computers

-

8

.76

%

Accenture

PLC

-

Class

A

107,543‌

34,021‌

Apple

Inc

2,517,725‌

494,607‌

Cognizant

Technology

Solutions

Corp

86,419‌

5,706‌

DXC

Technology

Co

(d)

38,771‌

1,072‌

EPAM

Systems

Inc

(d)

9,860‌

2,335‌

Fortinet

Inc

(d)

110,979‌

8,625‌

Hewlett

Packard

Enterprise

Co

220,672‌

3,835‌

HP

Inc

147,623‌

4,846‌

International

Business

Machines

Corp

154,630‌

22,295‌

Leidos

Holdings

Inc

23,358‌

2,185‌

NetApp

Inc

36,426‌

2,842‌

Seagate

Technology

Holdings

PLC

32,795‌

2,083‌

Western

Digital

Corp

(d)

54,481‌

2,319‌

$

586,771‌

Consumer

Products

-

0

.26

%

Avery

Dennison

Corp

13,748‌

2,530‌

Church

&

Dwight

Co

Inc

41,595‌

3,979‌

Clorox

Co/The

21,051‌

3,189‌

Kimberly-Clark

Corp

57,452‌

7,417‌

$

17,115‌

Cosmetics

&

Personal

Care

-

1

.20

%

Colgate-Palmolive

Co

141,268‌

10,773‌

Estee

Lauder

Cos

Inc/The

39,485‌

7,107‌

Procter

&

Gamble

Co/The

401,366‌

62,734‌

$

80,614‌

Distribution

&

Wholesale

-

0

.34

%

Copart

Inc

(d)

73,042‌

6,456‌

Fastenal

Co

97,239‌

5,699‌

LKQ

Corp

43,240‌

2,369‌

Pool

Corp

6,648‌

2,558‌

WW

Grainger

Inc

7,604‌

5,616‌

$

22,698‌

Diversified

Financial

Services

-

3

.51

%

American

Express

Co

101,252‌

17,099‌

Ameriprise

Financial

Inc

17,741‌

6,182‌

BlackRock

Inc

25,503‌

18,843‌

Capital

One

Financial

Corp

65,017‌

7,608‌

Cboe

Global

Markets

Inc

17,979‌

2,511‌

Charles

Schwab

Corp/The

253,065‌

16,728‌

CME

Group

Inc

61,255‌

12,187‌

Discover

Financial

Services

43,245‌

4,564‌

Franklin

Resources

Inc

48,616‌

1,421‌

Intercontinental

Exchange

Inc

95,339‌

10,945‌

Invesco

Ltd

78,021‌

1,311‌

Mastercard

Inc

142,492‌

56,182‌

Nasdaq

Inc

57,664‌

2,911‌

Raymond

James

Financial

Inc

32,478‌

3,575‌

Synchrony

Financial

72,982‌

2,521‌

T

Rowe

Price

Group

Inc

38,242‌

4,714‌

Visa

Inc

275,567‌

65,511‌

$

234,813‌

Electric

-

2

.35

%

AES

Corp/The

113,980‌

2,465‌

Alliant

Energy

Corp

42,808‌

2,300‌

Ameren

Corp

44,719‌

3,831‌

American

Electric

Power

Co

Inc

87,663‌

7,429‌

CenterPoint

Energy

Inc

107,457‌

3,233‌

CMS

Energy

Corp

49,665‌

3,033‌

Consolidated

Edison

Inc

59,013‌

5,598‌

Constellation

Energy

Corp

55,245‌

5,339‌

Dominion

Energy

Inc

142,351‌

7,623‌

DTE

Energy

Co

35,098‌

4,012‌

Duke

Energy

Corp

131,233‌

12,286‌

Edison

International

65,217‌

4,693‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electric

(continued)

Entergy

Corp

36,007‌

$

3,698‌

Evergy

Inc

39,112‌

2,346‌

Eversource

Energy

59,403‌

4,297‌

Exelon

Corp

169,364‌

7,090‌

FirstEnergy

Corp

92,670‌

3,650‌

NextEra

Energy

Inc

344,566‌

25,257‌

NRG

Energy

Inc

39,205‌

1,489‌

PG&E

Corp

(d)

275,285‌

4,848‌

Pinnacle

West

Capital

Corp

19,286‌

1,597‌

PPL

Corp

125,514‌

3,455‌

Public

Service

Enterprise

Group

Inc

84,968‌

5,363‌

Sempra

53,581‌

7,985‌

Southern

Co/The

185,683‌

13,432‌

WEC

Energy

Group

Inc

53,715‌

4,827‌

Xcel

Energy

Inc

93,719‌

5,879‌

$

157,055‌

Electrical

Components

&

Equipment

-

0

.25

%

AMETEK

Inc

39,247‌

6,225‌

Emerson

Electric

Co

97,320‌

8,890‌

Generac

Holdings

Inc

(d)

10,591‌

1,628‌

$

16,743‌

Electronics

-

0

.98

%

Agilent

Technologies

Inc

50,354‌

6,132‌

Allegion

plc

14,976‌

1,750‌

Amphenol

Corp

101,376‌

8,953‌

Fortive

Corp

60,205‌

4,717‌

Garmin

Ltd

26,060‌

2,759‌

Honeywell

International

Inc

113,317‌

21,998‌

Keysight

Technologies

Inc

(d)

30,335‌

4,886‌

Mettler-Toledo

International

Inc

(d)

3,750‌

4,715‌

TE

Connectivity

Ltd

53,661‌

7,700‌

Trimble

Inc

(d)

42,188‌

2,270‌

$

65,880‌

Energy

-

Alternate

Sources

-

0

.14

%

Enphase

Energy

Inc

(d)

23,337‌

3,543‌

First

Solar

Inc

(d)

16,917‌

3,509‌

SolarEdge

Technologies

Inc

(d)

9,594‌

2,316‌

$

9,368‌

Engineering

&

Construction

-

0

.04

%

Jacobs

Solutions

Inc

21,601‌

2,709‌

Entertainment

-

0

.06

%

Caesars

Entertainment

Inc

(d)

36,646‌

2,163‌

Live

Nation

Entertainment

Inc

(d)

24,508‌

2,150‌

$

4,313‌

Environmental

Control

-

0

.26

%

Pentair

PLC

28,089‌

1,952‌

Republic

Services

Inc

35,008‌

5,290‌

Waste

Management

Inc

63,042‌

10,326‌

$

17,568‌

Food

-

1

.02

%

Campbell

Soup

Co

34,168‌

1,566‌

Conagra

Brands

Inc

81,212‌

2,665‌

General

Mills

Inc

100,021‌

7,476‌

Hershey

Co/The

25,081‌

5,801‌

Hormel

Foods

Corp

49,326‌

2,016‌

J

M

Smucker

Co/The

18,158‌

2,736‌

Kellogg

Co

43,775‌

2,928‌

Kraft

Heinz

Co/The

135,840‌

4,915‌

Kroger

Co/The

111,208‌

5,409‌

Lamb

Weston

Holdings

Inc

24,811‌

2,571‌

McCormick

&

Co

Inc/MD

42,714‌

3,822‌

Mondelez

International

Inc

231,908‌

17,191‌

Sysco

Corp

86,284‌

6,584‌

Tyson

Foods

Inc

48,634‌

2,710‌

$

68,390‌

Forest

Products

&

Paper

-

0

.03

%

International

Paper

Co

59,102‌

2,131‌

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

123

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Gas

-

0

.07

%

Atmos

Energy

Corp

24,604‌

$

2,995‌

NiSource

Inc

70,340‌

1,958‌

$

4,953‌

Hand

&

Machine

Tools

-

0

.08

%

Snap-on

Inc

9,014‌

2,456‌

Stanley

Black

&

Decker

Inc

26,078‌

2,589‌

$

5,045‌

Healthcare

-

Products

-

3

.53

%

Abbott

Laboratories

296,125‌

32,968‌

Align

Technology

Inc

(d)

12,118‌

4,579‌

Baxter

International

Inc

86,140‌

3,896‌

Bio-Techne

Corp

26,809‌

2,236‌

Boston

Scientific

Corp

(d)

244,824‌

12,694‌

Cooper

Cos

Inc/The

8,421‌

3,295‌

Danaher

Corp

113,090‌

28,845‌

DENTSPLY

SIRONA

Inc

36,184‌

1,502‌

Edwards

Lifesciences

Corp

(d)

103,234‌

8,472‌

GE

HealthCare

Technologies

Inc

66,582‌

5,193‌

Hologic

Inc

(d)

41,912‌

3,329‌

IDEXX

Laboratories

Inc

(d)

14,134‌

7,841‌

Insulet

Corp

(d)

11,868‌

3,284‌

Intuitive

Surgical

Inc

(d)

59,668‌

19,356‌

Medtronic

PLC

226,556‌

19,883‌

ResMed

Inc

25,020‌

5,563‌

Revvity

Inc

21,362‌

2,626‌

STERIS

PLC

16,906‌

3,813‌

Stryker

Corp

57,531‌

16,305‌

Teleflex

Inc

7,998‌

2,009‌

Thermo

Fisher

Scientific

Inc

65,685‌

36,039‌

Waters

Corp

(d)

10,053‌

2,777‌

West

Pharmaceutical

Services

Inc

12,642‌

4,653‌

Zimmer

Biomet

Holdings

Inc

35,518‌

4,907‌

$

236,065‌

Healthcare

-

Services

-

2

.19

%

Catalent

Inc

(d)

30,667‌

1,488‌

Centene

Corp

(d)

93,451‌

6,363‌

Charles

River

Laboratories

International

Inc

(d)

8,715‌

1,826‌

DaVita

Inc

(d)

9,421‌

961‌

Elevance

Health

Inc

40,369‌

19,039‌

HCA

Healthcare

Inc

35,134‌

9,585‌

Humana

Inc

21,276‌

9,720‌

IQVIA

Holdings

Inc

(d)

31,596‌

7,070‌

Laboratory

Corp

of

America

Holdings

15,087‌

3,228‌

Molina

Healthcare

Inc

(d)

9,928‌

3,023‌

Quest

Diagnostics

Inc

19,073‌

2,579‌

UnitedHealth

Group

Inc

158,545‌

80,282‌

Universal

Health

Services

Inc

10,717‌

1,489‌

$

146,653‌

Home

Builders

-

0

.28

%

DR

Horton

Inc

52,854‌

6,713‌

Lennar

Corp

-

A

Shares

43,214‌

5,481‌

NVR

Inc

(d)

519‌

3,273‌

PulteGroup

Inc

38,013‌

3,208‌

$

18,675‌

Home

Furnishings

-

0

.02

%

Whirlpool

Corp

9,324‌

1,345‌

Housewares

-

0

.01

%

Newell

Brands

Inc

64,170‌

716‌

Insurance

-

3

.57

%

Aflac

Inc

93,634‌

6,773‌

Allstate

Corp/The

44,760‌

5,044‌

American

International

Group

Inc

123,249‌

7,429‌

Aon

PLC

34,781‌

11,078‌

Arch

Capital

Group

Ltd

(d)

63,419‌

4,927‌

Arthur

J

Gallagher

&

Co

36,475‌

7,835‌

Assurant

Inc

9,051‌

1,217‌

Berkshire

Hathaway

Inc

-

Class

B

(d)

303,676‌

106,882‌

Brown

&

Brown

Inc

40,090‌

2,824‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Chubb

Ltd

70,530‌

$

14,417‌

Cincinnati

Financial

Corp

26,771‌

2,880‌

Everest

Group

Ltd

7,301‌

2,632‌

Globe

Life

Inc

15,133‌

1,697‌

Hartford

Financial

Services

Group

Inc/The

52,831‌

3,798‌

Lincoln

National

Corp

26,275‌

737‌

Loews

Corp

32,212‌

2,018‌

Marsh

&

McLennan

Cos

Inc

84,245‌

15,873‌

MetLife

Inc

109,547‌

6,898‌

Principal

Financial

Group

Inc

38,449‌

3,071‌

Progressive

Corp/The

99,681‌

12,558‌

Prudential

Financial

Inc

62,157‌

5,998‌

Travelers

Cos

Inc/The

39,332‌

6,789‌

W

R

Berkley

Corp

34,195‌

2,110‌

Willis

Towers

Watson

PLC

18,121‌

3,830‌

$

239,315‌

Internet

-

9

.87

%

Alphabet

Inc

-

A

Shares

(d)

1,011,690‌

134,272‌

Alphabet

Inc

-

C

Shares

(d)

870,245‌

115,838‌

Amazon.com

Inc

(d)

1,520,089‌

203,206‌

Booking

Holdings

Inc

(d)

6,290‌

18,686‌

CDW

Corp/DE

22,953‌

4,294‌

eBay

Inc

91,061‌

4,053‌

Etsy

Inc

(d)

21,006‌

2,135‌

Expedia

Group

Inc

(d)

24,284‌

2,976‌

F5

Inc

(d)

10,297‌

1,629‌

Gen

Digital

Inc

96,864‌

1,884‌

Match

Group

Inc

(d)

47,420‌

2,206‌

Meta

Platforms

Inc

(d)

376,707‌

120,019‌

Netflix

Inc

(d)

75,701‌

33,230‌

Palo

Alto

Networks

Inc

(d)

51,530‌

12,880‌

VeriSign

Inc

(d)

15,422‌

3,253‌

$

660,561‌

Iron

&

Steel

-

0

.15

%

Nucor

Corp

42,781‌

7,362‌

Steel

Dynamics

Inc

27,346‌

2,915‌

$

10,277‌

Leisure

Products

&

Services

-

0

.13

%

Carnival

Corp

(d)

171,040‌

3,223‌

Norwegian

Cruise

Line

Holdings

Ltd

(d)

72,230‌

1,594‌

Royal

Caribbean

Cruises

Ltd

(d)

37,452‌

4,086‌

$

8,903‌

Lodging

-

0

.35

%

Hilton

Worldwide

Holdings

Inc

45,064‌

7,007‌

Las

Vegas

Sands

Corp

55,963‌

3,347‌

Marriott

International

Inc/MD

43,910‌

8,861‌

MGM

Resorts

International

51,421‌

2,611‌

Wynn

Resorts

Ltd

17,634‌

1,922‌

$

23,748‌

Machinery

-

Construction

&

Mining

-

0

.35

%

Caterpillar

Inc

87,760‌

23,271‌

Machinery

-

Diversified

-

0

.81

%

Deere

&

Co

45,919‌

19,727‌

Dover

Corp

23,815‌

3,476‌

IDEX

Corp

12,869‌

2,906‌

Ingersoll

Rand

Inc

68,885‌

4,496‌

Nordson

Corp

9,165‌

2,306‌

Otis

Worldwide

Corp

70,380‌

6,402‌

Rockwell

Automation

Inc

19,561‌

6,578‌

Westinghouse

Air

Brake

Technologies

Corp

30,630‌

3,628‌

Xylem

Inc/NY

40,744‌

4,594‌

$

54,113‌

Media

-

1

.19

%

Charter

Communications

Inc

(d)

17,693‌

7,169‌

Comcast

Corp

-

Class

A

708,299‌

32,057‌

FactSet

Research

Systems

Inc

6,525‌

2,839‌

Fox

Corp

-

A

Shares

45,819‌

1,533‌

Fox

Corp

-

B

Shares

23,269‌

731‌

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

124

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Media

(continued)

News

Corp

-

A

Shares

64,873‌

$

1,286‌

News

Corp

-

B

Shares

19,999‌

402‌

Paramount

Global

-

Class

B

(e)

86,337‌

1,384‌

Walt

Disney

Co/The

(d)

311,170‌

27,660‌

Warner

Bros

Discovery

Inc

(d)

377,506‌

4,934‌

$

79,995‌

Mining

-

0

.25

%

Freeport-McMoRan

Inc

244,072‌

10,898‌

Newmont

Corp

135,330‌

5,808‌

$

16,706‌

Miscellaneous

Manufacturers

-

1

.14

%

3M

Co

93,943‌

10,475‌

A

O

Smith

Corp

21,208‌

1,540‌

Axon

Enterprise

Inc

(d)

11,952‌

2,222‌

Eaton

Corp

PLC

67,877‌

13,937‌

General

Electric

Co

185,438‌

21,184‌

Illinois

Tool

Works

Inc

47,094‌

12,401‌

Parker-Hannifin

Corp

21,847‌

8,958‌

Teledyne

Technologies

Inc

(d)

8,011‌

3,080‌

Textron

Inc

34,344‌

2,671‌

$

76,468‌

Office

&

Business

Equipment

-

0

.04

%

Zebra

Technologies

Corp

(d)

8,758‌

2,697‌

Oil

&

Gas

-

3

.46

%

APA

Corp

52,553‌

2,128‌

Chevron

Corp

296,761‌

48,568‌

ConocoPhillips

206,061‌

24,257‌

Coterra

Energy

Inc

128,987‌

3,552‌

Devon

Energy

Corp

109,276‌

5,901‌

Diamondback

Energy

Inc

30,839‌

4,543‌

EOG

Resources

Inc

99,597‌

13,200‌

EQT

Corp

61,585‌

2,598‌

Exxon

Mobil

Corp

688,480‌

73,833‌

Hess

Corp

47,059‌

7,140‌

Marathon

Oil

Corp

105,173‌

2,763‌

Marathon

Petroleum

Corp

72,252‌

9,611‌

Occidental

Petroleum

Corp

122,353‌

7,724‌

Phillips

66

78,141‌

8,717‌

Pioneer

Natural

Resources

Co

39,803‌

8,982‌

Valero

Energy

Corp

61,563‌

7,936‌

$

231,453‌

Oil

&

Gas

Services

-

0

.39

%

Baker

Hughes

Co

172,394‌

6,170‌

Halliburton

Co

153,635‌

6,004‌

Schlumberger

NV

242,718‌

14,160‌

$

26,334‌

Packaging

&

Containers

-

0

.16

%

Amcor

PLC

250,572‌

2,571‌

Ball

Corp

53,564‌

3,144‌

Packaging

Corp

of

America

15,315‌

2,348‌

Sealed

Air

Corp

24,589‌

1,122‌

Westrock

Co

43,616‌

1,452‌

$

10,637‌

Pharmaceuticals

-

5

.59

%

AbbVie

Inc

300,441‌

44,940‌

AmerisourceBergen

Corp

27,582‌

5,155‌

Becton

Dickinson

&

Co

48,364‌

13,475‌

Bristol-Myers

Squibb

Co

357,753‌

22,249‌

Cardinal

Health

Inc

43,356‌

3,966‌

Cigna

Group/The

50,384‌

14,868‌

CVS

Health

Corp

218,316‌

16,306‌

Dexcom

Inc

(d)

66,010‌

8,222‌

Eli

Lilly

&

Co

134,170‌

60,987‌

Henry

Schein

Inc

(d)

22,309‌

1,758‌

Johnson

&

Johnson

442,538‌

74,138‌

McKesson

Corp

23,092‌

9,292‌

Merck

&

Co

Inc

432,097‌

46,083‌

Organon

&

Co

43,434‌

955‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Pfizer

Inc

961,335‌

$

34,666‌

Viatris

Inc

204,183‌

2,150‌

Zoetis

Inc

78,693‌

14,801‌

$

374,011‌

Pipelines

-

0

.32

%

Kinder

Morgan

Inc

335,857‌

5,948‌

ONEOK

Inc

76,194‌

5,108‌

Targa

Resources

Corp

38,490‌

3,156‌

Williams

Cos

Inc/The

207,443‌

7,146‌

$

21,358‌

Real

Estate

-

0

.07

%

CBRE

Group

Inc

(d)

52,933‌

4,410‌

REITs

-

2

.26

%

Alexandria

Real

Estate

Equities

Inc

26,810‌

3,370‌

American

Tower

Corp

79,362‌

15,103‌

AvalonBay

Communities

Inc

24,180‌

4,562‌

Boston

Properties

Inc

24,303‌

1,619‌

Camden

Property

Trust

18,181‌

1,983‌

Crown

Castle

Inc

73,849‌

7,997‌

Digital

Realty

Trust

Inc

49,613‌

6,183‌

Equinix

Inc

15,925‌

12,898‌

Equity

Residential

58,071‌

3,829‌

Essex

Property

Trust

Inc

10,930‌

2,662‌

Extra

Space

Storage

Inc

35,955‌

5,018‌

Federal

Realty

Investment

Trust

12,493‌

1,268‌

Healthpeak

Properties

Inc

93,147‌

2,034‌

Host

Hotels

&

Resorts

Inc

121,118‌

2,229‌

Invitation

Homes

Inc

98,992‌

3,514‌

Iron

Mountain

Inc

49,660‌

3,049‌

Kimco

Realty

Corp

105,560‌

2,139‌

Mid-America

Apartment

Communities

Inc

19,865‌

2,973‌

Prologis

Inc

157,256‌

19,618‌

Public

Storage

26,944‌

7,592‌

Realty

Income

Corp

114,642‌

6,990‌

Regency

Centers

Corp

26,204‌

1,717‌

SBA

Communications

Corp

18,448‌

4,039‌

Simon

Property

Group

Inc

55,682‌

6,938‌

UDR

Inc

52,691‌

2,154‌

Ventas

Inc

68,124‌

3,305‌

VICI

Properties

Inc

171,010‌

5,383‌

Welltower

Inc

84,638‌

6,953‌

Weyerhaeuser

Co

124,702‌

4,247‌

$

151,366‌

Retail

-

4

.87

%

Advance

Auto

Parts

Inc

10,120‌

753‌

AutoZone

Inc

(d)

3,133‌

7,775‌

Bath

&

Body

Works

Inc

38,987‌

1,445‌

Best

Buy

Co

Inc

33,141‌

2,752‌

CarMax

Inc

(d)

26,941‌

2,226‌

Chipotle

Mexican

Grill

Inc

(d)

4,699‌

9,221‌

Costco

Wholesale

Corp

75,520‌

42,342‌

Darden

Restaurants

Inc

20,593‌

3,479‌

Dollar

General

Corp

37,312‌

6,300‌

Dollar

Tree

Inc

(d)

35,407‌

5,464‌

Domino's

Pizza

Inc

6,018‌

2,388‌

Genuine

Parts

Co

23,929‌

3,726‌

Home

Depot

Inc/The

172,448‌

57,570‌

Lowe's

Cos

Inc

101,553‌

23,791‌

McDonald's

Corp

124,328‌

36,453‌

O'Reilly

Automotive

Inc

(d)

10,368‌

9,599‌

Ross

Stores

Inc

58,248‌

6,677‌

Starbucks

Corp

195,221‌

19,829‌

Target

Corp

78,597‌

10,726‌

TJX

Cos

Inc/The

196,088‌

16,967‌

Tractor

Supply

Co

18,659‌

4,179‌

Ulta

Beauty

Inc

(d)

8,530‌

3,794‌

Walgreens

Boots

Alliance

Inc

121,947‌

3,655‌

Walmart

Inc

238,850‌

38,183‌

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

125

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Yum!

Brands

Inc

47,695‌

$

6,566‌

$

325,860‌

Semiconductors

-

7

.32

%

Advanced

Micro

Devices

Inc

(d)

274,227‌

31,372‌

Analog

Devices

Inc

86,142‌

17,188‌

Applied

Materials

Inc

143,914‌

21,816‌

Broadcom

Inc

70,998‌

63,802‌

Intel

Corp

710,275‌

25,407‌

KLA

Corp

23,364‌

12,008‌

Lam

Research

Corp

22,877‌

16,437‌

Microchip

Technology

Inc

93,283‌

8,763‌

Micron

Technology

Inc

186,363‌

13,304‌

Monolithic

Power

Systems

Inc

7,671‌

4,292‌

NVIDIA

Corp

421,146‌

196,797‌

NXP

Semiconductors

NV

44,231‌

9,863‌

ON

Semiconductor

Corp

(d)

73,543‌

7,924‌

Qorvo

Inc

(d)

17,010‌

1,871‌

QUALCOMM

Inc

189,702‌

25,073‌

Skyworks

Solutions

Inc

27,102‌

3,100‌

Teradyne

Inc

26,402‌

2,982‌

Texas

Instruments

Inc

154,563‌

27,821‌

$

489,820‌

Shipbuilding

-

0

.02

%

Huntington

Ingalls

Industries

Inc

6,793‌

1,560‌

Software

-

10

.49

%

Activision

Blizzard

Inc

121,825‌

11,300‌

Adobe

Inc

(d)

78,111‌

42,662‌

Akamai

Technologies

Inc

(d)

25,919‌

2,449‌

ANSYS

Inc

(d)

14,758‌

5,049‌

Autodesk

Inc

(d)

36,468‌

7,731‌

Broadridge

Financial

Solutions

Inc

20,090‌

3,374‌

Cadence

Design

Systems

Inc

(d)

46,436‌

10,866‌

Ceridian

HCM

Holding

Inc

(d)

26,400‌

1,869‌

Electronic

Arts

Inc

44,363‌

6,049‌

Fair

Isaac

Corp

(d)

4,257‌

3,567‌

Fidelity

National

Information

Services

Inc

100,887‌

6,092‌

Fiserv

Inc

(d)

105,123‌

13,268‌

Intuit

Inc

47,773‌

24,445‌

Jack

Henry

&

Associates

Inc

12,410‌

2,080‌

Microsoft

Corp

1,266,183‌

425,336‌

MSCI

Inc

13,633‌

7,472‌

Oracle

Corp

262,055‌

30,721‌

Paychex

Inc

54,636‌

6,855‌

Paycom

Software

Inc

8,278‌

3,053‌

PTC

Inc

(d)

18,138‌

2,645‌

Roper

Technologies

Inc

18,151‌

8,949‌

Salesforce

Inc

(d)

166,718‌

37,513‌

ServiceNow

Inc

(d)

34,694‌

20,227‌

Synopsys

Inc

(d)

25,935‌

11,717‌

Take-Two

Interactive

Software

Inc

(d)

27,000‌

4,129‌

Tyler

Technologies

Inc

(d)

7,139‌

2,832‌

$

702,250‌

Telecommunications

-

1

.68

%

Arista

Networks

Inc

(d)

42,522‌

6,595‌

AT&T

Inc

1,217,397‌

17,677‌

Cisco

Systems

Inc

697,476‌

36,297‌

Corning

Inc

130,291‌

4,422‌

Juniper

Networks

Inc

54,765‌

1,522‌

Motorola

Solutions

Inc

28,560‌

8,186‌

T-Mobile

US

Inc

(d)

98,079‌

13,512‌

Verizon

Communications

Inc

715,893‌

24,398‌

$

112,609‌

Toys,

Games

&

Hobbies

-

0

.02

%

Hasbro

Inc

22,187‌

1,432‌

Transportation

-

1

.39

%

CH

Robinson

Worldwide

Inc

19,829‌

1,986‌

CSX

Corp

346,209‌

11,536‌

Expeditors

International

of

Washington

Inc

26,019‌

3,312‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Transportation

(continued)

FedEx

Corp

39,379‌

$

10,630‌

JB

Hunt

Transport

Services

Inc

14,120‌

2,880‌

Norfolk

Southern

Corp

38,764‌

9,055‌

Old

Dominion

Freight

Line

Inc

15,312‌

6,423‌

Union

Pacific

Corp

103,825‌

24,090‌

United

Parcel

Service

Inc

123,424‌

23,096‌

$

93,008‌

Water

-

0

.07

%

American

Water

Works

Co

Inc

33,145‌

4,887‌

TOTAL

COMMON

STOCKS

$

6,526,434‌

Total

Investments

$

6,684,175‌

Other

Assets

and

Liabilities

-  0.18%

11,998‌

TOTAL

NET

ASSETS

-

100.00%

$

6,696,173‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$71

or

0.00%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$73

or

0.00%

of

net

assets.

Portfolio

Summary

Sector

Percent

Technology

26

.61‌

%

Consumer,

Non-cyclical

19

.31‌

%

Financial

13

.31‌

%

Communications

12

.82‌

%

Consumer,

Cyclical

9

.11‌

%

Industrial

7

.51‌

%

Energy

4

.31‌

%

Utilities

2

.49‌

%

Money

Market

Funds

2

.03‌

%

Basic

Materials

1

.99‌

%

Exchange-Traded

Funds

0

.33‌

%

Other

Assets

and

Liabilities

0

.18‌

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

126

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

867,994‌

$

732,091‌

$

135,903‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

51,660‌

172,920‌

224,580‌

—‌

$

51,660‌

$

1,040,914‌

$

956,671‌

$

135,903‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

3,186‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

376‌

—‌

—‌

—‌

$

3,562‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

September

2023

Long

619‌

$

142,819‌

$

6,209‌

Total

$

6,209‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

LargeCap

Value

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

127

INVESTMENT

COMPANIES

-

2

.81

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.31

%

iShares

Russell

1000

Value

ETF

54,061‌

$

8,833‌

Money

Market

Funds

-

2

.50

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

723,586‌

723‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

72,149,320‌

72,150‌

$

72,873‌

TOTAL

INVESTMENT

COMPANIES

$

81,706‌

COMMON

STOCKS

-

97

.20

%

Shares

Held

Value

(000's)

Advertising

-

0

.02

%

Interpublic

Group

of

Cos

Inc/The

7,167‌

$

245‌

Omnicom

Group

Inc

3,669‌

311‌

$

556‌

Aerospace

&

Defense

-

0

.30

%

Boeing

Co/The

(d)

8,963‌

2,141‌

Curtiss-Wright

Corp

708‌

136‌

General

Dynamics

Corp

4,552‌

1,018‌

HEICO

Corp

75‌

13‌

HEICO

Corp

-

Class

A

132‌

19‌

Hexcel

Corp

1,566‌

111‌

Howmet

Aerospace

Inc

7,051‌

361‌

L3Harris

Technologies

Inc

3,517‌

666‌

Mercury

Systems

Inc

(d)

922‌

35‌

Northrop

Grumman

Corp

2,511‌

1,117‌

RTX

Corp

27,186‌

2,390‌

Spirit

AeroSystems

Holdings

Inc

1,742‌

55‌

TransDigm

Group

Inc

810‌

729‌

$

8,791‌

Agriculture

-

1

.39

%

Altria

Group

Inc

33,229‌

1,509‌

Archer-Daniels-Midland

Co

10,088‌

857‌

Bunge

Ltd

2,774‌

302‌

Darling

Ingredients

Inc

(d)

2,950‌

204‌

Philip

Morris

International

Inc

378,358‌

37,730‌

$

40,602‌

Airlines

-

0

.87

%

Alaska

Air

Group

Inc

(d)

2,329‌

113‌

American

Airlines

Group

Inc

(d)

7,594‌

127‌

Delta

Air

Lines

Inc

11,350‌

525‌

Southwest

Airlines

Co

710,683‌

24,277‌

United

Airlines

Holdings

Inc

(d)

6,072‌

330‌

$

25,372‌

Apparel

-

0

.07

%

Capri

Holdings

Ltd

(d)

2,274‌

84‌

Carter's

Inc

684‌

51‌

Columbia

Sportswear

Co

665‌

52‌

NIKE

Inc

10,325‌

1,140‌

PVH

Corp

1,159‌

104‌

Ralph

Lauren

Corp

755‌

99‌

Skechers

USA

Inc

(d)

2,372‌

132‌

Tapestry

Inc

4,105‌

177‌

Under

Armour

Inc

-

Class

A

(d)

3,503‌

28‌

Under

Armour

Inc

-

Class

C

(d)

3,444‌

26‌

VF

Corp

6,496‌

129‌

$

2,022‌

Automobile

Manufacturers

-

0

.13

%

Cummins

Inc

2,636‌

688‌

Ford

Motor

Co

72,986‌

964‌

General

Motors

Co

25,794‌

990‌

Lucid

Group

Inc

(d)

13,845‌

105‌

PACCAR

Inc

9,534‌

821‌

Rivian

Automotive

Inc

(d)

9,591‌

265‌

$

3,833‌

Automobile

Parts

&

Equipment

-

1

.27

%

Allison

Transmission

Holdings

Inc

1,524‌

89‌

Aptiv

PLC

(d)

330,478‌

36,184‌

BorgWarner

Inc

4,336‌

202‌

Gentex

Corp

4,354‌

146‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Automobile

Parts

&

Equipment

(continued)

Lear

Corp

1,091‌

$

169‌

Phinia

Inc

(d)

867‌

24‌

QuantumScape

Corp

(d),(e)

5,539‌

74‌

$

36,888‌

Banks

-

9

.27

%

Bank

of

America

Corp

1,314,981‌

42,079‌

Bank

of

New

York

Mellon

Corp/The

14,699‌

667‌

Bank

OZK

2,048‌

90‌

BOK

Financial

Corp

527‌

47‌

Citigroup

Inc

36,183‌

1,725‌

Citizens

Financial

Group

Inc

8,976‌

290‌

Columbia

Banking

System

Inc

3,863‌

86‌

Comerica

Inc

2,445‌

132‌

Commerce

Bancshares

Inc/MO

2,123‌

113‌

Cullen/Frost

Bankers

Inc

1,099‌

119‌

East

West

Bancorp

Inc

2,609‌

162‌

Fifth

Third

Bancorp

12,619‌

367‌

First

Citizens

BancShares

Inc/NC

181‌

259‌

First

Hawaiian

Inc

2,364‌

49‌

First

Horizon

Corp

9,930‌

135‌

FNB

Corp/PA

6,643‌

85‌

Goldman

Sachs

Group

Inc/The

98,516‌

35,059‌

Huntington

Bancshares

Inc/OH

26,739‌

327‌

JPMorgan

Chase

&

Co

253,779‌

40,087‌

KeyCorp

17,317‌

213‌

M&T

Bank

Corp

230,219‌

32,198‌

Morgan

Stanley

22,368‌

2,048‌

Northern

Trust

Corp

204,080‌

16,351‌

NU

Holdings

Ltd/Cayman

Islands

(d)

14,214‌

113‌

Pinnacle

Financial

Partners

Inc

1,397‌

106‌

PNC

Financial

Services

Group

Inc/The

7,408‌

1,014‌

Popular

Inc

1,308‌

95‌

Prosperity

Bancshares

Inc

1,618‌

103‌

Regions

Financial

Corp

17,376‌

354‌

State

Street

Corp

6,206‌

450‌

Synovus

Financial

Corp

2,687‌

91‌

Truist

Financial

Corp

24,669‌

820‌

US

Bancorp

610,723‌

24,233‌

Webster

Financial

Corp

3,226‌

153‌

Wells

Fargo

&

Co

1,501,019‌

69,288‌

Western

Alliance

Bancorp

2,008‌

104‌

Wintrust

Financial

Corp

1,130‌

95‌

Zions

Bancorp

NA

2,703‌

103‌

$

269,810‌

Beverages

-

1

.35

%

Boston

Beer

Co

Inc/The

(d)

11‌

4‌

Brown-Forman

Corp

-

A

Shares

(e)

188‌

13‌

Brown-Forman

Corp

-

B

Shares

705‌

50‌

Coca-Cola

Co/The

36,520‌

2,262‌

Coca-Cola

Europacific

Partners

PLC

161,534‌

10,240‌

Constellation

Brands

Inc

2,561‌

699‌

Keurig

Dr

Pepper

Inc

17,725‌

603‌

Molson

Coors

Beverage

Co

3,249‌

227‌

PepsiCo

Inc

134,663‌

25,243‌

$

39,341‌

Biotechnology

-

1

.08

%

Alnylam

Pharmaceuticals

Inc

(d)

477‌

93‌

Amgen

Inc

3,180‌

745‌

Biogen

Inc

(d)

2,679‌

724‌

BioMarin

Pharmaceutical

Inc

(d)

3,069‌

270‌

Bio-Rad

Laboratories

Inc

(d)

390‌

158‌

Certara

Inc

(d)

1,415‌

28‌

Corteva

Inc

13,265‌

748‌

Exelixis

Inc

(d)

1,561‌

31‌

Gilead

Sciences

Inc

333,001‌

25,354‌

Horizon

Therapeutics

Plc

(d)

483‌

48‌

Illumina

Inc

(d)

2,064‌

397‌

Incyte

Corp

(d)

897‌

57‌

Ionis

Pharmaceuticals

Inc

(d)

328‌

14‌

Schedule

of

Investments

LargeCap

Value

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

128

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

Karuna

Therapeutics

Inc

(d)

73‌

$

15‌

Maravai

LifeSciences

Holdings

Inc

(d)

904‌

10‌

Mirati

Therapeutics

Inc

(d)

849‌

26‌

Moderna

Inc

(d)

6,244‌

735‌

Regeneron

Pharmaceuticals

Inc

(d)

1,796‌

1,332‌

Roivant

Sciences

Ltd

(d)

257‌

3‌

Royalty

Pharma

PLC

6,902‌

217‌

United

Therapeutics

Corp

(d)

838‌

203‌

Vertex

Pharmaceuticals

Inc

(d)

407‌

143‌

$

31,351‌

Building

Materials

-

0

.17

%

Armstrong

World

Industries

Inc

588‌

45‌

AZEK

Co

Inc/The

(d)

2,238‌

70‌

Builders

FirstSource

Inc

(d)

2,367‌

342‌

Carrier

Global

Corp

15,492‌

922‌

Eagle

Materials

Inc

226‌

42‌

Fortune

Brands

Innovations

Inc

2,349‌

167‌

Hayward

Holdings

Inc

(d)

2,052‌

27‌

Johnson

Controls

International

plc

12,777‌

889‌

Lennox

International

Inc

594‌

218‌

Louisiana-Pacific

Corp

1,195‌

91‌

Martin

Marietta

Materials

Inc

1,147‌

512‌

Masco

Corp

4,179‌

254‌

MDU

Resources

Group

Inc

3,754‌

83‌

Mohawk

Industries

Inc

(d)

982‌

104‌

Owens

Corning

1,669‌

234‌

Trane

Technologies

PLC

2,985‌

595‌

Vulcan

Materials

Co

1,921‌

424‌

$

5,019‌

Chemicals

-

3

.37

%

Air

Products

and

Chemicals

Inc

134,174‌

40,967‌

Albemarle

Corp

2,176‌

462‌

Ashland

Inc

933‌

85‌

Axalta

Coating

Systems

Ltd

(d)

787,985‌

25,215‌

Celanese

Corp

1,838‌

230‌

CF

Industries

Holdings

Inc

3,630‌

298‌

Chemours

Co/The

2,762‌

102‌

Dow

Inc

13,161‌

743‌

DuPont

de

Nemours

Inc

306,057‌

23,759‌

Eastman

Chemical

Co

2,203‌

189‌

Ecolab

Inc

1,025‌

188‌

Element

Solutions

Inc

4,147‌

87‌

FMC

Corp

1,975‌

190‌

Huntsman

Corp

3,245‌

97‌

International

Flavors

&

Fragrances

Inc

4,747‌

402‌

Linde

PLC

8,268‌

3,230‌

LyondellBasell

Industries

NV

4,810‌

476‌

Mosaic

Co/The

6,151‌

251‌

NewMarket

Corp

119‌

54‌

Olin

Corp

2,399‌

138‌

PPG

Industries

Inc

3,269‌

470‌

RPM

International

Inc

1,913‌

198‌

Sherwin-Williams

Co/The

738‌

204‌

Valvoline

Inc

2,476‌

94‌

Westlake

Corp

601‌

83‌

$

98,212‌

Commercial

Services

-

1

.15

%

ADT

Inc

3,906‌

25‌

Affirm

Holdings

Inc

(d)

4,042‌

78‌

Aramark

653,780‌

26,393‌

Automatic

Data

Processing

Inc

1,092‌

270‌

Avis

Budget

Group

Inc

(d)

250‌

55‌

Block

Inc

(d)

6,332‌

510‌

Bright

Horizons

Family

Solutions

Inc

(d)

934‌

91‌

Cintas

Corp

177‌

89‌

Clarivate

PLC

(d)

8,747‌

83‌

CoStar

Group

Inc

(d)

4,285‌

360‌

Driven

Brands

Holdings

Inc

(d)

1,155‌

30‌

Dun

&

Bradstreet

Holdings

Inc

4,953‌

59‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

Equifax

Inc

698‌

$

143‌

Euronet

Worldwide

Inc

(d)

440‌

39‌

FleetCor

Technologies

Inc

(d)

98‌

24‌

FTI

Consulting

Inc

(d)

504‌

88‌

Global

Payments

Inc

4,864‌

536‌

Grand

Canyon

Education

Inc

(d)

405‌

44‌

GXO

Logistics

Inc

(d)

2,174‌

146‌

H&R

Block

Inc

993‌

33‌

Hertz

Global

Holdings

Inc

(d)

2,499‌

42‌

ManpowerGroup

Inc

936‌

74‌

Mister

Car

Wash

Inc

(d)

1,390‌

14‌

Moody's

Corp

259‌

91‌

PayPal

Holdings

Inc

(d)

1,964‌

149‌

Quanta

Services

Inc

1,969‌

397‌

R1

RCM

Inc

(d)

2,989‌

52‌

RB

Global

Inc

793‌

51‌

Robert

Half

Inc

1,954‌

145‌

S&P

Global

Inc

5,473‌

2,159‌

Service

Corp

International/US

1,759‌

117‌

TransUnion

3,589‌

286‌

U-Haul

Holding

Co

103‌

6‌

U-Haul

Holding

Co

925‌

53‌

United

Rentals

Inc

1,014‌

471‌

WEX

Inc

(d)

430‌

81‌

WillScot

Mobile

Mini

Holdings

Corp

(d)

2,734‌

131‌

$

33,415‌

Computers

-

3

.29

%

Accenture

PLC

-

Class

A

78,841‌

24,942‌

Amdocs

Ltd

2,212‌

207‌

Apple

Inc

142,567‌

28,007‌

CACI

International

Inc

(d)

77,029‌

26,994‌

Cognizant

Technology

Solutions

Corp

165,060‌

10,899‌

Crane

NXT

Co

893‌

53‌

DXC

Technology

Co

(d)

4,222‌

117‌

Genpact

Ltd

2,502‌

90‌

Hewlett

Packard

Enterprise

Co

24,047‌

418‌

HP

Inc

12,788‌

420‌

International

Business

Machines

Corp

16,904‌

2,437‌

KBR

Inc

1,598‌

98‌

Kyndryl

Holdings

Inc

(d)

3,810‌

52‌

Leidos

Holdings

Inc

2,537‌

237‌

Lumentum

Holdings

Inc

(d)

1,270‌

67‌

NCR

Corp

(d)

2,382‌

64‌

NetApp

Inc

2,400‌

187‌

Pure

Storage

Inc

(d)

1,198‌

44‌

Science

Applications

International

Corp

999‌

121‌

Western

Digital

Corp

(d)

5,938‌

253‌

$

95,707‌

Consumer

Products

-

0

.89

%

Avery

Dennison

Corp

1,007‌

185‌

Church

&

Dwight

Co

Inc

267,283‌

25,571‌

Kimberly-Clark

Corp

370‌

48‌

Reynolds

Consumer

Products

Inc

1,010‌

28‌

Spectrum

Brands

Holdings

Inc

746‌

59‌

$

25,891‌

Cosmetics

&

Personal

Care

-

0

.81

%

Colgate-Palmolive

Co

15,266‌

1,164‌

Coty

Inc

(d)

6,695‌

81‌

Estee

Lauder

Cos

Inc/The

93,882‌

16,899‌

Olaplex

Holdings

Inc

(d)

2,547‌

9‌

Procter

&

Gamble

Co/The

35,566‌

5,559‌

$

23,712‌

Distribution

&

Wholesale

-

0

.05

%

Core

&

Main

Inc

(d)

1,575‌

50‌

Fastenal

Co

2,804‌

165‌

Ferguson

PLC

3,650‌

590‌

LKQ

Corp

4,951‌

271‌

SiteOne

Landscape

Supply

Inc

(d)

559‌

95‌

Univar

Solutions

Inc

(d)

2,883‌

104‌

Schedule

of

Investments

LargeCap

Value

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

129

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Distribution

&

Wholesale

(continued)

Watsco

Inc

463‌

$

175‌

WESCO

International

Inc

822‌

144‌

$

1,594‌

Diversified

Financial

Services

-

1

.95

%

Affiliated

Managers

Group

Inc

663‌

92‌

Air

Lease

Corp

1,922‌

81‌

Ally

Financial

Inc

5,029‌

154‌

American

Express

Co

118,854‌

20,072‌

BlackRock

Inc

2,765‌

2,043‌

Blue

Owl

Capital

Inc

7,435‌

92‌

Capital

One

Financial

Corp

7,049‌

825‌

Cboe

Global

Markets

Inc

1,955‌

273‌

Charles

Schwab

Corp/The

27,573‌

1,823‌

CME

Group

Inc

6,679‌

1,329‌

Coinbase

Global

Inc

(d),(e)

3,097‌

305‌

Credit

Acceptance

Corp

(d)

121‌

67‌

Discover

Financial

Services

4,713‌

497‌

Evercore

Inc

-

Class

A

662‌

89‌

Franklin

Resources

Inc

5,291‌

155‌

Houlihan

Lokey

Inc

900‌

90‌

Interactive

Brokers

Group

Inc

-

A

Shares

1,835‌

160‌

Intercontinental

Exchange

Inc

10,308‌

1,183‌

Invesco

Ltd

6,893‌

116‌

Janus

Henderson

Group

PLC

2,488‌

73‌

Jefferies

Financial

Group

Inc

3,735‌

137‌

Lazard

Ltd

2,033‌

71‌

Nasdaq

Inc

6,350‌

321‌

OneMain

Holdings

Inc

2,084‌

95‌

Raymond

James

Financial

Inc

3,633‌

400‌

Rocket

Cos

Inc

(d)

1,385‌

15‌

SEI

Investments

Co

1,891‌

119‌

SLM

Corp

2,716‌

44‌

SoFi

Technologies

Inc

(d)

17,047‌

195‌

Stifel

Financial

Corp

1,908‌

121‌

Synchrony

Financial

7,932‌

274‌

T

Rowe

Price

Group

Inc

4,101‌

506‌

TPG

Inc

890‌

26‌

Tradeweb

Markets

Inc

1,392‌

114‌

UWM

Holdings

Corp

775‌

5‌

Virtu

Financial

Inc

1,661‌

31‌

Visa

Inc

102,177‌

24,291‌

Voya

Financial

Inc

1,820‌

135‌

Western

Union

Co/The

5,931‌

72‌

XP

Inc

(d)

5,956‌

161‌

$

56,652‌

Electric

-

3

.96

%

AES

Corp/The

4,830‌

104‌

Alliant

Energy

Corp

4,670‌

251‌

Ameren

Corp

4,869‌

417‌

American

Electric

Power

Co

Inc

9,579‌

812‌

Avangrid

Inc

1,320‌

49‌

Brookfield

Renewable

Corp

2,373‌

74‌

CenterPoint

Energy

Inc

11,733‌

353‌

Clearway

Energy

Inc

-

Class

A

677‌

17‌

Clearway

Energy

Inc

-

Class

C

1,601‌

42‌

CMS

Energy

Corp

5,407‌

330‌

Consolidated

Edison

Inc

6,453‌

612‌

Constellation

Energy

Corp

6,092‌

589‌

Dominion

Energy

Inc

15,547‌

832‌

DTE

Energy

Co

211,640‌

24,191‌

Duke

Energy

Corp

14,339‌

1,342‌

Edison

International

7,028‌

506‌

Entergy

Corp

86,333‌

8,866‌

Evergy

Inc

4,139‌

248‌

Eversource

Energy

6,481‌

469‌

Exelon

Corp

18,488‌

774‌

FirstEnergy

Corp

10,125‌

399‌

Hawaiian

Electric

Industries

Inc

2,036‌

78‌

IDACORP

Inc

938‌

96‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electric

(continued)

NextEra

Energy

Inc

348,301‌

$

25,531‌

NRG

Energy

Inc

4,256‌

162‌

OGE

Energy

Corp

3,716‌

134‌

PG&E

Corp

(d)

33,499‌

590‌

Pinnacle

West

Capital

Corp

241,126‌

19,970‌

PPL

Corp

13,723‌

378‌

Public

Service

Enterprise

Group

Inc

9,247‌

584‌

Sempra

5,859‌

873‌

Southern

Co/The

20,272‌

1,466‌

Vistra

Corp

4,946‌

139‌

WEC

Energy

Group

Inc

260,303‌

23,391‌

Xcel

Energy

Inc

10,246‌

643‌

$

115,312‌

Electrical

Components

&

Equipment

-

0

.07

%

Acuity

Brands

Inc

591‌

97‌

AMETEK

Inc

4,276‌

678‌

Emerson

Electric

Co

10,616‌

970‌

Generac

Holdings

Inc

(d)

1,189‌

183‌

Littelfuse

Inc

449‌

137‌

Universal

Display

Corp

500‌

73‌

$

2,138‌

Electronics

-

1

.18

%

Agilent

Technologies

Inc

1,026‌

125‌

Allegion

plc

123‌

14‌

Amphenol

Corp

5,389‌

476‌

Arrow

Electronics

Inc

(d)

1,064‌

152‌

Avnet

Inc

1,688‌

82‌

Coherent

Corp

(d)

2,214‌

105‌

Fortive

Corp

6,575‌

515‌

Garmin

Ltd

2,856‌

303‌

Honeywell

International

Inc

160,797‌

31,215‌

Hubbell

Inc

542‌

169‌

Jabil

Inc

894‌

99‌

Keysight

Technologies

Inc

(d)

2,454‌

395‌

National

Instruments

Corp

531‌

31‌

nVent

Electric

PLC

3,057‌

162‌

Sensata

Technologies

Holding

PLC

2,803‌

119‌

TD

SYNNEX

Corp

773‌

76‌

Trimble

Inc

(d)

4,580‌

247‌

Vontier

Corp

1,914‌

59‌

Woodward

Inc

1,099‌

132‌

$

34,476‌

Energy

-

Alternate

Sources

-

0

.02

%

First

Solar

Inc

(d)

1,978‌

410‌

Plug

Power

Inc

(d),(e)

9,654‌

127‌

Sunrun

Inc

(d)

3,921‌

74‌

$

611‌

Engineering

&

Construction

-

0

.73

%

AECOM

235,903‌

20,524‌

EMCOR

Group

Inc

599‌

129‌

Jacobs

Solutions

Inc

2,338‌

293‌

MasTec

Inc

(d)

1,155‌

136‌

TopBuild

Corp

(d)

550‌

150‌

$

21,232‌

Entertainment

-

0

.03

%

AMC

Entertainment

Holdings

Inc

(e)

9,642‌

48‌

Caesars

Entertainment

Inc

(d)

2,259‌

133‌

Live

Nation

Entertainment

Inc

(d)

2,251‌

198‌

Madison

Square

Garden

Sports

Corp

345‌

73‌

Marriott

Vacations

Worldwide

Corp

679‌

87‌

Penn

Entertainment

Inc

(d)

2,849‌

75‌

Vail

Resorts

Inc

669‌

158‌

$

772‌

Environmental

Control

-

0

.43

%

Clean

Harbors

Inc

(d)

953‌

159‌

Pentair

PLC

3,049‌

212‌

Republic

Services

Inc

3,840‌

580‌

Stericycle

Inc

(d)

1,711‌

73‌

Schedule

of

Investments

LargeCap

Value

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

130

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Environmental

Control

(continued)

Tetra

Tech

Inc

806‌

$

136‌

Waste

Management

Inc

69,283‌

11,348‌

$

12,508‌

Food

-

0

.65

%

Albertsons

Cos

Inc

7,076‌

154‌

Campbell

Soup

Co

3,555‌

163‌

Conagra

Brands

Inc

8,843‌

290‌

Flowers

Foods

Inc

3,492‌

86‌

General

Mills

Inc

10,925‌

817‌

Grocery

Outlet

Holding

Corp

(d)

1,763‌

59‌

Hershey

Co/The

706‌

163‌

Hormel

Foods

Corp

5,380‌

220‌

Ingredion

Inc

1,225‌

136‌

J

M

Smucker

Co/The

1,916‌

289‌

Kellogg

Co

4,830‌

323‌

Kraft

Heinz

Co/The

14,938‌

540‌

Kroger

Co/The

12,133‌

590‌

Lamb

Weston

Holdings

Inc

159‌

17‌

McCormick

&

Co

Inc/MD

141,334‌

12,647‌

Mondelez

International

Inc

25,299‌

1,875‌

Performance

Food

Group

Co

(d)

1,510‌

90‌

Pilgrim's

Pride

Corp

(d)

697‌

17‌

Post

Holdings

Inc

(d)

995‌

85‌

Seaboard

Corp

5‌

18‌

Tyson

Foods

Inc

5,165‌

288‌

US

Foods

Holding

Corp

(d)

4,211‌

180‌

$

19,047‌

Forest

Products

&

Paper

-

0

.01

%

International

Paper

Co

6,438‌

232‌

Gas

-

0

.03

%

Atmos

Energy

Corp

2,679‌

326‌

National

Fuel

Gas

Co

1,650‌

87‌

NiSource

Inc

7,684‌

214‌

UGI

Corp

3,882‌

105‌

$

732‌

Hand

&

Machine

Tools

-

0

.63

%

Lincoln

Electric

Holdings

Inc

70‌

14‌

MSA

Safety

Inc

569‌

94‌

Regal

Rexnord

Corp

1,229‌

192‌

Snap-on

Inc

967‌

263‌

Stanley

Black

&

Decker

Inc

178,203‌

17,691‌

$

18,254‌

Healthcare

-

Products

-

4

.10

%

Abbott

Laboratories

363,880‌

40,511‌

Avantor

Inc

(d)

945,107‌

19,441‌

Azenta

Inc

(d)

1,266‌

59‌

Baxter

International

Inc

9,399‌

425‌

Bio-Techne

Corp

173‌

14‌

Boston

Scientific

Corp

(d)

26,710‌

1,385‌

Cooper

Cos

Inc/The

903‌

353‌

Danaher

Corp

112,086‌

28,589‌

DENTSPLY

SIRONA

Inc

3,929‌

163‌

Enovis

Corp

(d)

953‌

61‌

Envista

Holdings

Corp

(d)

3,043‌

105‌

Exact

Sciences

Corp

(d)

2,168‌

211‌

GE

HealthCare

Technologies

Inc

6,700‌

523‌

Globus

Medical

Inc

(d)

1,472‌

89‌

Hologic

Inc

(d)

4,517‌

359‌

ICU

Medical

Inc

(d)

375‌

67‌

Integra

LifeSciences

Holdings

Corp

(d)

1,328‌

60‌

Medtronic

PLC

251,986‌

22,115‌

QIAGEN

NV

(d)

4,226‌

198‌

QuidelOrtho

Corp

(d)

973‌

85‌

Repligen

Corp

(d)

575‌

99‌

Revvity

Inc

2,347‌

288‌

STERIS

PLC

1,844‌

416‌

Stryker

Corp

4,930‌

1,397‌

Tandem

Diabetes

Care

Inc

(d)

1,035‌

36‌

Teleflex

Inc

873‌

219‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Products

(continued)

Thermo

Fisher

Scientific

Inc

2,757‌

$

1,513‌

Zimmer

Biomet

Holdings

Inc

3,904‌

539‌

$

119,320‌

Healthcare

-

Services

-

3

.63

%

Acadia

Healthcare

Co

Inc

(d)

1,666‌

132‌

agilon

health

Inc

(d)

554‌

11‌

Amedisys

Inc

(d)

595‌

54‌

Catalent

Inc

(d)

3,342‌

162‌

Centene

Corp

(d)

10,195‌

694‌

Charles

River

Laboratories

International

Inc

(d)

943‌

198‌

Chemed

Corp

78‌

41‌

Elevance

Health

Inc

79,538‌

37,512‌

Encompass

Health

Corp

1,711‌

113‌

Fortrea

Holdings

Inc

(d)

1,644‌

52‌

Ginkgo

Bioworks

Holdings

Inc

(d)

25,934‌

65‌

HCA

Healthcare

Inc

3,017‌

823‌

Humana

Inc

1,315‌

601‌

ICON

PLC

(d)

1,287‌

323‌

IQVIA

Holdings

Inc

(d)

263‌

59‌

Laboratory

Corp

of

America

Holdings

1,644‌

352‌

Molina

Healthcare

Inc

(d)

489‌

149‌

Quest

Diagnostics

Inc

2,081‌

281‌

Sotera

Health

Co

(d)

573‌

11‌

Syneos

Health

Inc

(d)

1,916‌

81‌

Teladoc

Health

Inc

(d)

3,027‌

90‌

Tenet

Healthcare

Corp

(d)

1,876‌

140‌

UnitedHealth

Group

Inc

125,303‌

63,450‌

Universal

Health

Services

Inc

1,127‌

157‌

$

105,551‌

Home

Builders

-

0

.08

%

DR

Horton

Inc

5,786‌

735‌

Lennar

Corp

-

A

Shares

4,625‌

587‌

Lennar

Corp

-

B

Shares

256‌

29‌

NVR

Inc

(d)

50‌

315‌

PulteGroup

Inc

4,123‌

348‌

Thor

Industries

Inc

953‌

110‌

Toll

Brothers

Inc

2,052‌

165‌

$

2,289‌

Home

Furnishings

-

0

.01

%

Dolby

Laboratories

Inc

1,100‌

98‌

Leggett

&

Platt

Inc

2,461‌

72‌

Tempur

Sealy

International

Inc

2,472‌

110‌

Whirlpool

Corp

994‌

143‌

$

423‌

Housewares

-

0

.00

%

Newell

Brands

Inc

7,068‌

79‌

Insurance

-

6

.60

%

Aflac

Inc

11,193‌

810‌

Allstate

Corp/The

192,768‌

21,722‌

American

Financial

Group

Inc/OH

1,352‌

164‌

American

International

Group

Inc

927,529‌

55,911‌

Aon

PLC

3,760‌

1,198‌

Arch

Capital

Group

Ltd

(d)

5,712‌

444‌

Arthur

J

Gallagher

&

Co

113,661‌

24,414‌

Assurant

Inc

982‌

132‌

Assured

Guaranty

Ltd

1,056‌

63‌

Axis

Capital

Holdings

Ltd

1,445‌

80‌

Berkshire

Hathaway

Inc

-

Class

B

(d)

106,930‌

37,635‌

Brighthouse

Financial

Inc

(d)

1,113‌

58‌

Brown

&

Brown

Inc

2,689‌

189‌

Chubb

Ltd

7,669‌

1,568‌

Cincinnati

Financial

Corp

2,854‌

307‌

CNA

Financial

Corp

484‌

19‌

Corebridge

Financial

Inc

2,747‌

51‌

Everest

Group

Ltd

680‌

245‌

Fidelity

National

Financial

Inc

4,822‌

189‌

First

American

Financial

Corp

1,862‌

118‌

Globe

Life

Inc

1,650‌

185‌

Hanover

Insurance

Group

Inc/The

659‌

75‌

Schedule

of

Investments

LargeCap

Value

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

131

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Hartford

Financial

Services

Group

Inc/The

5,663‌

$

407‌

Kemper

Corp

1,119‌

57‌

Lincoln

National

Corp

2,848‌

80‌

Loews

Corp

3,519‌

220‌

Markel

Group

Inc

(d)

244‌

354‌

Marsh

&

McLennan

Cos

Inc

1,832‌

345‌

MetLife

Inc

12,029‌

758‌

MGIC

Investment

Corp

5,353‌

90‌

Old

Republic

International

Corp

5,053‌

139‌

Primerica

Inc

237‌

50‌

Progressive

Corp/The

204,477‌

25,760‌

Prudential

Financial

Inc

6,825‌

659‌

Reinsurance

Group

of

America

Inc

1,235‌

173‌

RenaissanceRe

Holdings

Ltd

670‌

125‌

RLI

Corp

612‌

82‌

Travelers

Cos

Inc/The

4,288‌

740‌

Unum

Group

3,653‌

178‌

W

R

Berkley

Corp

3,953‌

244‌

White

Mountains

Insurance

Group

Ltd

46‌

71‌

Willis

Towers

Watson

PLC

75,809‌

16,020‌

$

192,129‌

Internet

-

1

.75

%

Alphabet

Inc

-

A

Shares

(d)

365,193‌

48,468‌

CDW

Corp/DE

153‌

29‌

DoorDash

Inc

-

Class

A

(d)

1,217‌

111‌

eBay

Inc

9,321‌

415‌

Etsy

Inc

(d)

1,053‌

107‌

Expedia

Group

Inc

(d)

752‌

92‌

F5

Inc

(d)

1,120‌

177‌

Gen

Digital

Inc

8,690‌

169‌

GoDaddy

Inc

(d)

1,130‌

87‌

IAC

Inc

(d)

1,429‌

100‌

Match

Group

Inc

(d)

512‌

24‌

Okta

Inc

(d)

2,632‌

202‌

Robinhood

Markets

Inc

(d)

12,337‌

159‌

Roku

Inc

(d)

2,006‌

193‌

TripAdvisor

Inc

(d)

2,133‌

40‌

VeriSign

Inc

(d)

1,593‌

336‌

Wayfair

Inc

(d)

993‌

77‌

Zillow

Group

Inc

-

A

Shares

(d)

1,027‌

55‌

Zillow

Group

Inc

-

C

Shares

(d)

2,870‌

155‌

$

50,996‌

Iron

&

Steel

-

0

.06

%

Cleveland-Cliffs

Inc

(d)

9,446‌

167‌

Nucor

Corp

4,682‌

806‌

Reliance

Steel

&

Aluminum

Co

1,086‌

318‌

Steel

Dynamics

Inc

2,987‌

318‌

United

States

Steel

Corp

4,180‌

106‌

$

1,715‌

Leisure

Products

&

Services

-

0

.04

%

Brunswick

Corp/DE

1,212‌

105‌

Carnival

Corp

(d)

18,477‌

348‌

Harley-Davidson

Inc

2,435‌

94‌

Norwegian

Cruise

Line

Holdings

Ltd

(d)

5,963‌

131‌

Planet

Fitness

Inc

(d)

828‌

56‌

Polaris

Inc

913‌

124‌

Royal

Caribbean

Cruises

Ltd

(d)

3,042‌

332‌

$

1,190‌

Lodging

-

1

.15

%

Boyd

Gaming

Corp

1,366‌

93‌

Hilton

Worldwide

Holdings

Inc

2,591‌

403‌

Hyatt

Hotels

Corp

865‌

109‌

Las

Vegas

Sands

Corp

540,311‌

32,316‌

MGM

Resorts

International

5,576‌

283‌

Travel

+

Leisure

Co

754‌

31‌

Wyndham

Hotels

&

Resorts

Inc

1,451‌

113‌

Wynn

Resorts

Ltd

1,812‌

198‌

$

33,546‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Machinery

-

Construction

&

Mining

-

1

.45

%

BWX

Technologies

Inc

1,406‌

$

97‌

Caterpillar

Inc

2,401‌

637‌

Oshkosh

Corp

1,211‌

111‌

Vertiv

Holdings

Co

1,595,905‌

41,510‌

$

42,355‌

Machinery

-

Diversified

-

0

.15

%

AGCO

Corp

1,162‌

155‌

CNH

Industrial

NV

18,146‌

261‌

Cognex

Corp

3,210‌

175‌

Crane

Co

891‌

83‌

Deere

&

Co

346‌

149‌

Dover

Corp

2,593‌

378‌

Esab

Corp

1,048‌

72‌

Flowserve

Corp

2,430‌

92‌

Gates

Industrial

Corp

PLC

(d)

2,246‌

31‌

Graco

Inc

1,835‌

146‌

IDEX

Corp

1,291‌

292‌

Ingersoll

Rand

Inc

7,525‌

491‌

Middleby

Corp/The

(d)

997‌

151‌

Nordson

Corp

1,063‌

267‌

Otis

Worldwide

Corp

7,233‌

658‌

Westinghouse

Air

Brake

Technologies

Corp

3,314‌

392‌

Xylem

Inc/NY

3,884‌

438‌

$

4,231‌

Media

-

1

.78

%

Cable

One

Inc

97‌

70‌

Comcast

Corp

-

Class

A

1,028,598‌

46,554‌

DISH

Network

Corp

(d)

4,601‌

37‌

Fox

Corp

-

A

Shares

5,438‌

182‌

Fox

Corp

-

B

Shares

2,497‌

78‌

GCI

Liberty

Inc

-

Escrow

(d),(f)

1,795‌

—‌

Liberty

Broadband

Corp

-

A

Shares

(d)

250‌

22‌

Liberty

Broadband

Corp

-

C

Shares

(d)

1,716‌

153‌

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d)

422‌

27‌

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d)

3,604‌

262‌

Liberty

Media

Corp-Liberty

SiriusXM

-

A

Shares

(d)

1,380‌

44‌

Liberty

Media

Corp-Liberty

SiriusXM

-

C

Shares

(d)

2,853‌

91‌

New

York

Times

Co/The

3,001‌

122‌

News

Corp

-

A

Shares

7,076‌

140‌

News

Corp

-

B

Shares

2,164‌

44‌

Nexstar

Media

Group

Inc

418‌

78‌

Paramount

Global

-

Class

A

(e)

171‌

3‌

Paramount

Global

-

Class

B

10,721‌

172‌

Sirius

XM

Holdings

Inc

(e)

11,973‌

61‌

Walt

Disney

Co/The

(d)

34,022‌

3,024‌

Warner

Bros

Discovery

Inc

(d)

40,969‌

536‌

$

51,700‌

Metal

Fabrication

&

Hardware

-

0

.01

%

RBC

Bearings

Inc

(d)

552‌

125‌

Timken

Co/The

1,161‌

108‌

Valmont

Industries

Inc

356‌

94‌

$

327‌

Mining

-

0

.08

%

Alcoa

Corp

3,304‌

120‌

Freeport-McMoRan

Inc

26,571‌

1,186‌

MP

Materials

Corp

(d)

2,033‌

49‌

Newmont

Corp

14,798‌

635‌

Royal

Gold

Inc

1,209‌

145‌

SSR

Mining

Inc

3,833‌

56‌

$

2,191‌

Miscellaneous

Manufacturers

-

1

.13

%

3M

Co

10,228‌

1,140‌

A

O

Smith

Corp

2,036‌

148‌

Carlisle

Cos

Inc

941‌

261‌

Donaldson

Co

Inc

1,317‌

83‌

Eaton

Corp

PLC

131,894‌

27,080‌

General

Electric

Co

20,169‌

2,304‌

Schedule

of

Investments

LargeCap

Value

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

132

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Miscellaneous

Manufacturers

(continued)

Illinois

Tool

Works

Inc

1,043‌

$

275‌

ITT

Inc

1,536‌

153‌

Parker-Hannifin

Corp

2,376‌

974‌

Teledyne

Technologies

Inc

(d)

866‌

333‌

Textron

Inc

3,744‌

291‌

$

33,042‌

Office

&

Business

Equipment

-

0

.01

%

Zebra

Technologies

Corp

(d)

780‌

240‌

Oil

&

Gas

-

7

.63

%

Antero

Resources

Corp

(d)

5,255‌

140‌

APA

Corp

658‌

27‌

Chesapeake

Energy

Corp

2,357‌

199‌

Chevron

Corp

205,441‌

33,622‌

ConocoPhillips

251,170‌

29,568‌

Coterra

Energy

Inc

14,076‌

388‌

Devon

Energy

Corp

11,918‌

644‌

Diamondback

Energy

Inc

3,368‌

496‌

EOG

Resources

Inc

211,326‌

28,007‌

EQT

Corp

6,702‌

283‌

Exxon

Mobil

Corp

277,989‌

29,812‌

Hess

Corp

230,335‌

34,948‌

HF

Sinclair

Corp

2,623‌

137‌

Marathon

Oil

Corp

11,555‌

303‌

Marathon

Petroleum

Corp

8,210‌

1,092‌

Occidental

Petroleum

Corp

12,974‌

819‌

Ovintiv

Inc

2,511‌

116‌

PDC

Energy

Inc

1,611‌

122‌

Phillips

66

263,989‌

29,448‌

Pioneer

Natural

Resources

Co

137,196‌

30,961‌

Range

Resources

Corp

4,350‌

137‌

Southwestern

Energy

Co

(d)

20,260‌

131‌

Valero

Energy

Corp

6,705‌

864‌

$

222,264‌

Oil

&

Gas

Services

-

1

.34

%

Baker

Hughes

Co

18,859‌

675‌

Halliburton

Co

936,884‌

36,614‌

NOV

Inc

7,290‌

146‌

Schlumberger

NV

26,503‌

1,546‌

TechnipFMC

PLC

8,584‌

157‌

$

39,138‌

Packaging

&

Containers

-

0

.06

%

Amcor

PLC

27,509‌

282‌

AptarGroup

Inc

1,216‌

148‌

Ardagh

Group

SA

(d),(f)

412‌

—‌

Ardagh

Metal

Packaging

SA

187‌

1‌

Ball

Corp

5,727‌

336‌

Berry

Global

Group

Inc

2,256‌

148‌

Crown

Holdings

Inc

1,971‌

183‌

Graphic

Packaging

Holding

Co

2,631‌

64‌

Packaging

Corp

of

America

1,645‌

252‌

Sealed

Air

Corp

1,256‌

57‌

Silgan

Holdings

Inc

1,553‌

68‌

Sonoco

Products

Co

1,816‌

107‌

Westrock

Co

4,721‌

157‌

$

1,803‌

Pharmaceuticals

-

6

.05

%

Becton

Dickinson

&

Co

121,108‌

33,743‌

Bristol-Myers

Squibb

Co

39,111‌

2,432‌

Cardinal

Health

Inc

2,341‌

214‌

Cigna

Group/The

5,029‌

1,484‌

CVS

Health

Corp

348,659‌

26,041‌

Elanco

Animal

Health

Inc

(d)

9,106‌

110‌

Henry

Schein

Inc

(d)

2,423‌

191‌

Jazz

Pharmaceuticals

PLC

(d)

547‌

71‌

Johnson

&

Johnson

306,677‌

51,378‌

McKesson

Corp

1,578‌

635‌

Merck

&

Co

Inc

346,362‌

36,940‌

Organon

&

Co

4,747‌

104‌

Perrigo

Co

PLC

514,007‌

18,834‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Pfizer

Inc

105,123‌

$

3,791‌

Premier

Inc

2,203‌

61‌

Viatris

Inc

22,237‌

234‌

$

176,263‌

Pipelines

-

0

.59

%

Antero

Midstream

Corp

4,196‌

50‌

DT

Midstream

Inc

1,803‌

97‌

Enbridge

Inc

413,266‌

15,208‌

Kinder

Morgan

Inc

36,474‌

646‌

ONEOK

Inc

7,853‌

526‌

Williams

Cos

Inc/The

22,648‌

780‌

$

17,307‌

Private

Equity

-

0

.02

%

Carlyle

Group

Inc/The

3,920‌

140‌

KKR

&

Co

Inc

9,056‌

538‌

$

678‌

Real

Estate

-

0

.02

%

CBRE

Group

Inc

(d)

5,760‌

480‌

Howard

Hughes

Corp/The

(d)

626‌

53‌

Jones

Lang

LaSalle

Inc

(d)

880‌

146‌

$

679‌

REITs

-

4

.52

%

AGNC

Investment

Corp

10,656‌

109‌

Agree

Realty

Corp

1,740‌

113‌

Alexandria

Real

Estate

Equities

Inc

3,188‌

401‌

American

Homes

4

Rent

6,189‌

232‌

Americold

Realty

Trust

Inc

5,018‌

163‌

Annaly

Capital

Management

Inc

9,175‌

184‌

Apartment

Income

REIT

Corp

2,764‌

95‌

AvalonBay

Communities

Inc

2,598‌

490‌

Boston

Properties

Inc

2,915‌

194‌

Brixmor

Property

Group

Inc

5,562‌

126‌

Camden

Property

Trust

1,928‌

210‌

Cousins

Properties

Inc

2,880‌

70‌

Crown

Castle

Inc

7,200‌

780‌

CubeSmart

4,157‌

180‌

Digital

Realty

Trust

Inc

5,405‌

674‌

EastGroup

Properties

Inc

809‌

143‌

EPR

Properties

1,379‌

62‌

Equinix

Inc

864‌

700‌

Equity

LifeStyle

Properties

Inc

2,222‌

158‌

Equity

Residential

6,935‌

457‌

Essex

Property

Trust

Inc

1,186‌

289‌

Extra

Space

Storage

Inc

3,886‌

542‌

Federal

Realty

Investment

Trust

1,502‌

153‌

First

Industrial

Realty

Trust

Inc

2,452‌

127‌

Gaming

and

Leisure

Properties

Inc

4,677‌

222‌

Healthcare

Realty

Trust

Inc

7,059‌

138‌

Healthpeak

Properties

Inc

10,170‌

222‌

Highwoods

Properties

Inc

1,934‌

49‌

Host

Hotels

&

Resorts

Inc

13,142‌

242‌

Invitation

Homes

Inc

11,363‌

403‌

Iron

Mountain

Inc

2,718‌

167‌

Kilroy

Realty

Corp

2,167‌

77‌

Kimco

Realty

Corp

11,247‌

228‌

Lamar

Advertising

Co

369‌

36‌

Medical

Properties

Trust

Inc

11,030‌

111‌

Mid-America

Apartment

Communities

Inc

2,158‌

323‌

National

Storage

Affiliates

Trust

1,484‌

50‌

NNN

REIT

Inc

3,371‌

144‌

Omega

Healthcare

Investors

Inc

4,352‌

139‌

Park

Hotels

&

Resorts

Inc

4,082‌

56‌

Prologis

Inc

159,954‌

19,954‌

Public

Storage

83,061‌

23,403‌

Rayonier

Inc

2,727‌

90‌

Realty

Income

Corp

12,292‌

749‌

Regency

Centers

Corp

3,164‌

207‌

Rexford

Industrial

Realty

Inc

3,723‌

205‌

Rithm

Capital

Corp

8,952‌

90‌

Schedule

of

Investments

LargeCap

Value

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

133

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

SBA

Communications

Corp

1,794‌

$

393‌

Simon

Property

Group

Inc

4,718‌

588‌

Spirit

Realty

Capital

Inc

2,618‌

106‌

STAG

Industrial

Inc

3,511‌

127‌

Starwood

Property

Trust

Inc

5,475‌

114‌

Sun

Communities

Inc

1,787‌

233‌

UDR

Inc

5,758‌

235‌

Ventas

Inc

402,822‌

19,545‌

VICI

Properties

Inc

1,734,315‌

54,597‌

Vornado

Realty

Trust

3,284‌

74‌

Welltower

Inc

9,240‌

759‌

Weyerhaeuser

Co

13,617‌

464‌

WP

Carey

Inc

3,940‌

266‌

$

131,458‌

Retail

-

6

.07

%

Advance

Auto

Parts

Inc

1,109‌

83‌

AutoNation

Inc

(d)

567‌

91‌

AutoZone

Inc

(d)

58‌

144‌

Bath

&

Body

Works

Inc

4,258‌

158‌

Best

Buy

Co

Inc

3,125‌

260‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

1,616‌

107‌

CarMax

Inc

(d)

2,771‌

229‌

Casey's

General

Stores

Inc

593‌

150‌

Darden

Restaurants

Inc

1,196‌

202‌

Dick's

Sporting

Goods

Inc

1,034‌

146‌

Dollar

General

Corp

265,901‌

44,900‌

Dollar

Tree

Inc

(d)

3,877‌

598‌

Domino's

Pizza

Inc

75,871‌

30,101‌

Freshpet

Inc

(d)

615‌

45‌

GameStop

Corp

(d),(e)

4,977‌

111‌

Gap

Inc/The

3,612‌

37‌

Genuine

Parts

Co

2,607‌

406‌

Home

Depot

Inc/The

78,304‌

26,141‌

Kohl's

Corp

2,054‌

59‌

Lithia

Motors

Inc

68,091‌

21,144‌

Lowe's

Cos

Inc

2,964‌

694‌

Macy's

Inc

5,027‌

83‌

McDonald's

Corp

7,965‌

2,335‌

MSC

Industrial

Direct

Co

Inc

853‌

86‌

Murphy

USA

Inc

20‌

6‌

Nordstrom

Inc

2,120‌

49‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

778‌

57‌

O'Reilly

Automotive

Inc

(d)

13,204‌

12,224‌

Penske

Automotive

Group

Inc

374‌

60‌

Petco

Health

&

Wellness

Co

Inc

(d)

1,524‌

12‌

RH

(d)

252‌

98‌

Ross

Stores

Inc

419‌

48‌

Victoria's

Secret

&

Co

(d)

805‌

17‌

Walgreens

Boots

Alliance

Inc

13,319‌

399‌

Walmart

Inc

220,404‌

35,234‌

Williams-Sonoma

Inc

1,054‌

146‌

Yum!

Brands

Inc

637‌

88‌

$

176,748‌

Savings

&

Loans

-

0

.01

%

New

York

Community

Bancorp

Inc

13,234‌

184‌

TFS

Financial

Corp

931‌

13‌

$

197‌

Semiconductors

-

4

.46

%

Advanced

Micro

Devices

Inc

(d)

12,853‌

1,470‌

Analog

Devices

Inc

9,404‌

1,876‌

Applied

Materials

Inc

2,431‌

369‌

Broadcom

Inc

45,514‌

40,901‌

Cirrus

Logic

Inc

(d)

1,026‌

83‌

Entegris

Inc

2,628‌

288‌

GLOBALFOUNDRIES

Inc

(d)

1,457‌

93‌

Intel

Corp

77,669‌

2,778‌

IPG

Photonics

Corp

(d)

558‌

73‌

Lam

Research

Corp

139‌

100‌

Marvell

Technology

Inc

15,892‌

1,035‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

(continued)

Microchip

Technology

Inc

309,989‌

$

29,121‌

Micron

Technology

Inc

20,332‌

1,451‌

MKS

Instruments

Inc

1,233‌

135‌

ON

Semiconductor

Corp

(d)

8,017‌

864‌

Qorvo

Inc

(d)

1,852‌

204‌

QUALCOMM

Inc

210,615‌

27,837‌

Skyworks

Solutions

Inc

168,314‌

19,250‌

Teradyne

Inc

483‌

55‌

Texas

Instruments

Inc

9,997‌

1,799‌

Wolfspeed

Inc

(d)

2,304‌

152‌

$

129,934‌

Shipbuilding

-

0

.01

%

Huntington

Ingalls

Industries

Inc

728‌

167‌

Software

-

4

.68

%

Activision

Blizzard

Inc

14,495‌

1,345‌

Akamai

Technologies

Inc

(d)

2,861‌

270‌

ANSYS

Inc

(d)

283‌

97‌

AppLovin

Corp

(d)

3,309‌

104‌

Aspen

Technology

Inc

(d)

545‌

97‌

Bentley

Systems

Inc

274‌

15‌

BILL

Holdings

Inc

(d)

1,906‌

239‌

Black

Knight

Inc

(d)

2,881‌

203‌

Broadridge

Financial

Solutions

Inc

357‌

60‌

CCC

Intelligent

Solutions

Holdings

Inc

(d)

3,738‌

41‌

Ceridian

HCM

Holding

Inc

(d)

2,505‌

177‌

Concentrix

Corp

815‌

68‌

Doximity

Inc

(d)

1,141‌

41‌

Dropbox

Inc

-

A

Shares

(d)

542‌

15‌

Electronic

Arts

Inc

159,267‌

21,716‌

Fidelity

National

Information

Services

Inc

693,009‌

41,844‌

Fiserv

Inc

(d)

8,305‌

1,048‌

Guidewire

Software

Inc

(d)

1,515‌

128‌

HashiCorp

Inc

(d)

573‌

17‌

Informatica

Inc

(d)

800‌

15‌

Jack

Henry

&

Associates

Inc

971‌

163‌

Microsoft

Corp

108,901‌

36,582‌

MSCI

Inc

722‌

396‌

nCino

Inc

(d)

1,181‌

38‌

Nutanix

Inc

(d)

3,231‌

98‌

Oracle

Corp

237,268‌

27,815‌

Paycor

HCM

Inc

(d)

557‌

15‌

Playtika

Holding

Corp

(d)

67‌

1‌

PTC

Inc

(d)

1,014‌

148‌

Roper

Technologies

Inc

1,965‌

969‌

Salesforce

Inc

(d)

4,333‌

975‌

SentinelOne

Inc

(d)

3,029‌

50‌

SS&C

Technologies

Holdings

Inc

4,040‌

235‌

Take-Two

Interactive

Software

Inc

(d)

3,066‌

469‌

Twilio

Inc

(d)

2,627‌

173‌

Tyler

Technologies

Inc

(d)

188‌

75‌

UiPath

Inc

(d)

1,627‌

29‌

Unity

Software

Inc

(d)

3,237‌

148‌

Zoom

Video

Communications

Inc

(d)

4,595‌

337‌

ZoomInfo

Technologies

Inc

(d)

2,946‌

75‌

$

136,331‌

Telecommunications

-

1

.21

%

AT&T

Inc

133,196‌

1,934‌

Ciena

Corp

(d)

2,756‌

116‌

Cisco

Systems

Inc

76,286‌

3,970‌

Corning

Inc

14,142‌

480‌

Frontier

Communications

Parent

Inc

(d)

4,549‌

83‌

Iridium

Communications

Inc

156‌

8‌

Juniper

Networks

Inc

5,916‌

165‌

Motorola

Solutions

Inc

84,798‌

24,306‌

T-Mobile

US

Inc

(d)

10,105‌

1,392‌

Ubiquiti

Inc

12‌

2‌

Verizon

Communications

Inc

78,294‌

2,668‌

Viasat

Inc

(d)

1,337‌

41‌

$

35,165‌

Schedule

of

Investments

LargeCap

Value

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

134

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Toys,

Games

&

Hobbies

-

0

.01

%

Hasbro

Inc

2,429‌

$

157‌

Mattel

Inc

(d)

6,541‌

139‌

$

296‌

Transportation

-

3

.29

%

CH

Robinson

Worldwide

Inc

473‌

47‌

CSX

Corp

33,572‌

1,119‌

Expeditors

International

of

Washington

Inc

2,472‌

315‌

FedEx

Corp

106,115‌

28,646‌

JB

Hunt

Transport

Services

Inc

196,152‌

40,003‌

Kirby

Corp

(d)

1,106‌

90‌

Knight-Swift

Transportation

Holdings

Inc

2,902‌

176‌

Landstar

System

Inc

135‌

27‌

Norfolk

Southern

Corp

4,226‌

987‌

Old

Dominion

Freight

Line

Inc

133‌

56‌

Ryder

System

Inc

853‌

87‌

Saia

Inc

(d)

462‌

195‌

Schneider

National

Inc

1,018‌

31‌

Union

Pacific

Corp

94,482‌

21,922‌

United

Parcel

Service

Inc

9,740‌

1,823‌

XPO

Inc

(d)

2,116‌

147‌

$

95,671‌

Water

-

0

.03

%

American

Water

Works

Co

Inc

3,623‌

534‌

Essential

Utilities

Inc

4,512‌

191‌

$

725‌

TOTAL

COMMON

STOCKS

$

2,830,230‌

Total

Investments

$

2,911,936‌

Other

Assets

and

Liabilities

-  (0.01)%

(

325‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,911,611‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$723

or

0.02%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$734

or

0.03%

of

net

assets.

(f)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Portfolio

Summary

Sector

Percent

Financial

22

.39‌

%

Consumer,

Non-cyclical

21

.10‌

%

Technology

12

.44‌

%

Consumer,

Cyclical

9

.78‌

%

Industrial

9

.61‌

%

Energy

9

.58‌

%

Communications

4

.76‌

%

Utilities

4

.02‌

%

Basic

Materials

3

.52‌

%

Money

Market

Funds

2

.50‌

%

Exchange-Traded

Funds

0

.31‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

722,983‌

$

650,833‌

$

72,150‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

99,651‌

108,848‌

208,499‌

—‌

$

99,651‌

$

831,831‌

$

859,332‌

$

72,150‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

2,275‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

391‌

—‌

—‌

—‌

$

2,666‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

September

2023

Long

68‌

$

15,689‌

$

534‌

Total

$

534‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

MidCap

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

135

INVESTMENT

COMPANIES

-

0

.01

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.01

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

516,110‌

$

516‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

1,460,091‌

1,460‌

$

1,976‌

TOTAL

INVESTMENT

COMPANIES

$

1,976‌

COMMON

STOCKS

-

100

.01

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

9

.84

%

HEICO

Corp

-

Class

A

6,227,281‌

$

873,999‌

TransDigm

Group

Inc

1,248,616‌

1,123,405‌

$

1,997,404‌

Beverages

-

0

.07

%

Brown-Forman

Corp

-

A

Shares

(d)

7,199‌

518‌

Brown-Forman

Corp

-

B

Shares

192,723‌

13,606‌

$

14,124‌

Building

Materials

-

5

.20

%

Martin

Marietta

Materials

Inc

652,958‌

291,520‌

Summit

Materials

Inc

(e)

2,412,952‌

87,301‌

Vulcan

Materials

Co

3,068,238‌

676,546‌

$

1,055,367‌

Chemicals

-

0

.88

%

Air

Products

and

Chemicals

Inc

402,076‌

122,766‌

Perimeter

Solutions

SA

(c),(e)

8,020,901‌

44,596‌

Perimeter

Solutions

SA

-

Warrants

(e)

2,883,826‌

360‌

Sherwin-Williams

Co/The

35,785‌

9,895‌

$

177,617‌

Commercial

Services

-

8

.92

%

CoStar

Group

Inc

(e)

10,667,598‌

895,758‌

Gartner

Inc

(e)

878,829‌

310,745‌

Moody's

Corp

718,093‌

253,307‌

TransUnion

1,937,714‌

154,417‌

Verisk

Analytics

Inc

860,420‌

196,985‌

$

1,811,212‌

Distribution

&

Wholesale

-

6

.71

%

Copart

Inc

(e)

11,922,569‌

1,053,836‌

Fastenal

Co

5,245,351‌

307,430‌

$

1,361,266‌

Diversified

Financial

Services

-

0

.87

%

Brookfield

Asset

Management

Ltd

5,055,070‌

170,457‌

Brookfield

Reinsurance

Ltd

157,227‌

5,470‌

$

175,927‌

Electric

-

3

.35

%

Brookfield

Infrastructure

Partners

LP

12,723,226‌

454,092‌

Brookfield

Renewable

Corp

2,108,604‌

65,725‌

Brookfield

Renewable

Partners

LP

5,464,946‌

159,303‌

$

679,120‌

Electronics

-

1

.89

%

Agilent

Technologies

Inc

2,199,193‌

267,795‌

Mettler-Toledo

International

Inc

(e)

92,200‌

115,939‌

$

383,734‌

Entertainment

-

3

.59

%

Atlanta

Braves

Holdings

Inc

(e)

121,866‌

4,962‌

Live

Nation

Entertainment

Inc

(e)

5,099,760‌

447,504‌

Vail

Resorts

Inc

1,172,007‌

275,996‌

$

728,462‌

Healthcare

-

Products

-

1

.33

%

Enovis

Corp

(e)

476,693‌

30,461‌

IDEXX

Laboratories

Inc

(e)

329,847‌

182,976‌

Waters

Corp

(e)

207,325‌

57,265‌

$

270,702‌

Home

Builders

-

2

.05

%

Lennar

Corp

-

A

Shares

1,220,667‌

154,817‌

Lennar

Corp

-

B

Shares

38,859‌

4,466‌

NVR

Inc

(e)

40,684‌

256,571‌

$

415,854‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

-

9

.85

%

Aon

PLC

486,766‌

$

155,035‌

Arch

Capital

Group

Ltd

(e)

4,254,549‌

330,536‌

Brown

&

Brown

Inc

8,666,267‌

610,538‌

F&G

Annuities

&

Life

Inc

63,059‌

1,652‌

Fidelity

National

Financial

Inc

19,455‌

762‌

Markel

Group

Inc

(e)

420,028‌

608,919‌

Progressive

Corp/The

2,317,095‌

291,908‌

$

1,999,350‌

Internet

-

2

.08

%

VeriSign

Inc

(e)

1,685,854‌

355,631‌

Wix.com

Ltd

(e)

715,777‌

67,512‌

$

423,143‌

Lodging

-

4

.94

%

Hilton

Worldwide

Holdings

Inc

5,100,333‌

793,051‌

Hyatt

Hotels

Corp

1,658,045‌

209,494‌

$

1,002,545‌

Machinery

-

Diversified

-

0

.27

%

Cognex

Corp

955,168‌

52,171‌

Esab

Corp

49,073‌

3,371‌

$

55,542‌

Media

-

1

.50

%

GCI

Liberty

Inc

-

Escrow

(e),(f)

2,397,434‌

—‌

Liberty

Broadband

Corp

-

A

Shares

(e)

26,939‌

2,393‌

Liberty

Broadband

Corp

-

C

Shares

(e)

29,151‌

2,598‌

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(e)

511,086‌

32,853‌

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(e)

3,681,131‌

267,250‌

$

305,094‌

Private

Equity

-

8

.65

%

Ares

Management

Corp

1,160,724‌

115,167‌

Brookfield

Corp

27,334,692‌

953,981‌

KKR

&

Co

Inc

11,581,011‌

687,680‌

$

1,756,828‌

Real

Estate

-

2

.52

%

CBRE

Group

Inc

(e)

4,558,365‌

379,758‌

Howard

Hughes

Corp/The

(e)

1,566,485‌

132,258‌

$

512,016‌

REITs

-

2

.03

%

SBA

Communications

Corp

1,884,009‌

412,504‌

Retail

-

10

.74

%

CarMax

Inc

(e)

6,294,866‌

520,019‌

Dollar

General

Corp

1,196,222‌

201,994‌

Domino's

Pizza

Inc

1,175,311‌

466,293‌

O'Reilly

Automotive

Inc

(e)

989,352‌

915,932‌

Ross

Stores

Inc

668,860‌

76,678‌

$

2,180,916‌

Semiconductors

-

1

.94

%

Microchip

Technology

Inc

4,191,301‌

393,731‌

Software

-

10

.79

%

ANSYS

Inc

(e)

359,850‌

123,105‌

Autodesk

Inc

(e)

1,478,385‌

313,403‌

Black

Knight

Inc

(e)

4,726,033‌

332,335‌

Constellation

Software

Inc/Canada

137,177‌

289,974‌

Fair

Isaac

Corp

(e)

77,072‌

64,584‌

Lumine

Group

Inc

(e)

329,031‌

5,222‌

MSCI

Inc

269,793‌

147,868‌

Roper

Technologies

Inc

1,159,061‌

571,475‌

Tyler

Technologies

Inc

(e)

860,580‌

341,332‌

$

2,189,298‌

TOTAL

COMMON

STOCKS

$

20,301,756‌

Total

Investments

$

20,303,732‌

Other

Assets

and

Liabilities

-  (0.02)%

(

3,929‌

)

TOTAL

NET

ASSETS

-

100.00%

$

20,299,803‌

Schedule

of

Investments

MidCap

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

136

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$516

or

0.00%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$513

or

0.00%

of

net

assets.

(e)

Non-income

producing

security

(f)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Portfolio

Summary

Sector

Percent

Consumer,

Cyclical

28

.03‌

%

Financial

23

.92‌

%

Industrial

17

.20‌

%

Technology

12

.73‌

%

Consumer,

Non-cyclical

10

.32‌

%

Communications

3

.58‌

%

Utilities

3

.35‌

%

Basic

Materials

0

.88‌

%

Money

Market

Funds

0

.01‌

%

Other

Assets

and

Liabilities

(

0

.02‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Perimeter

Solutions

SA

$

64,746‌

$

—‌

$

601‌

$

44,596‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

—‌

561,192‌

559,732‌

1,460‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

1‌

26,790‌

26,791‌

—‌

$

64,747‌

$

587,982‌

$

587,124‌

$

46,056‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Perimeter

Solutions

SA

$

—‌

$

(

556‌

)

$

—‌

$

(

18,993‌

)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

279‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

12‌

—‌

—‌

—‌

$

291‌

$

(

556‌

)

$

—‌

$

(

18,993‌

)

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

MidCap

Growth

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

137

INVESTMENT

COMPANIES

-

6

.32

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

6

.32

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

4,029,869‌

$

4,029‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

11,051,600‌

11,052‌

$

15,081‌

TOTAL

INVESTMENT

COMPANIES

$

15,081‌

COMMON

STOCKS

-

95

.73

%

Shares

Held

Value

(000's)

Advertising

-

3

.53

%

Trade

Desk

Inc/The

(d)

92,421‌

$

8,434‌

Aerospace

&

Defense

-

2

.32

%

Howmet

Aerospace

Inc

108,216‌

5,534‌

Apparel

-

2

.02

%

Deckers

Outdoor

Corp

(d)

4,306‌

2,341‌

On

Holding

AG

(d)

69,158‌

2,490‌

$

4,831‌

Automobile

Parts

&

Equipment

-

2

.50

%

Mobileye

Global

Inc

(d),(e)

156,415‌

5,972‌

Beverages

-

3

.78

%

Celsius

Holdings

Inc

(d)

36,991‌

5,353‌

Monster

Beverage

Corp

(d)

63,875‌

3,672‌

$

9,025‌

Biotechnology

-

0

.98

%

Argenx

SE

ADR

(d)

4,634‌

2,338‌

Building

Materials

-

5

.90

%

AZEK

Co

Inc/The

(d)

152,777‌

4,767‌

Trex

Co

Inc

(d)

44,759‌

3,095‌

Vulcan

Materials

Co

28,206‌

6,219‌

$

14,081‌

Commercial

Services

-

10

.53

%

Cintas

Corp

6,492‌

3,259‌

CoStar

Group

Inc

(d)

43,058‌

3,616‌

GXO

Logistics

Inc

(d)

63,560‌

4,263‌

Quanta

Services

Inc

29,702‌

5,989‌

Toast

Inc

(d)

92,850‌

2,049‌

Verisk

Analytics

Inc

26,030‌

5,959‌

$

25,135‌

Cosmetics

&

Personal

Care

-

1

.28

%

Coty

Inc

(d)

253,284‌

3,049‌

Diversified

Financial

Services

-

1

.87

%

Interactive

Brokers

Group

Inc

-

A

Shares

51,082‌

4,461‌

Electrical

Components

&

Equipment

-

1

.58

%

Generac

Holdings

Inc

(d)

24,611‌

3,783‌

Electronics

-

1

.04

%

Agilent

Technologies

Inc

20,387‌

2,482‌

Energy

-

Alternate

Sources

-

1

.46

%

First

Solar

Inc

(d)

16,857‌

3,496‌

Entertainment

-

2

.34

%

Churchill

Downs

Inc

9,569‌

1,109‌

DraftKings

Inc

(d)

140,977‌

4,480‌

$

5,589‌

Hand

&

Machine

Tools

-

0

.98

%

Lincoln

Electric

Holdings

Inc

11,667‌

2,342‌

Healthcare

-

Products

-

9

.07

%

Bruker

Corp

36,629‌

2,517‌

Exact

Sciences

Corp

(d)

55,648‌

5,428‌

Hologic

Inc

(d)

29,188‌

2,318‌

IDEXX

Laboratories

Inc

(d)

5,771‌

3,201‌

Inspire

Medical

Systems

Inc

(d)

10,860‌

3,126‌

Natera

Inc

(d)

47,373‌

2,142‌

West

Pharmaceutical

Services

Inc

7,901‌

2,908‌

$

21,640‌

Healthcare

-

Services

-

1

.03

%

Charles

River

Laboratories

International

Inc

(d)

11,720‌

2,456‌

Home

Builders

-

1

.04

%

DR

Horton

Inc

19,588‌

2,488‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Internet

-

2

.25

%

Pinterest

Inc

(d)

127,869‌

$

3,707‌

Spotify

Technology

SA

(d)

11,163‌

1,668‌

$

5,375‌

Machinery

-

Construction

&

Mining

-

1

.06

%

Vertiv

Holdings

Co

97,642‌

2,540‌

Machinery

-

Diversified

-

4

.14

%

Rockwell

Automation

Inc

15,375‌

5,171‌

Xylem

Inc/NY

41,698‌

4,701‌

$

9,872‌

Oil

&

Gas

-

1

.47

%

Matador

Resources

Co

62,879‌

3,498‌

Oil

&

Gas

Services

-

1

.90

%

TechnipFMC

PLC

246,643‌

4,523‌

Pharmaceuticals

-

3

.07

%

Dexcom

Inc

(d)

58,849‌

7,330‌

Retail

-

2

.03

%

Domino's

Pizza

Inc

5,849‌

2,321‌

Lululemon

Athletica

Inc

(d)

6,698‌

2,535‌

$

4,856‌

Semiconductors

-

8

.19

%

Marvell

Technology

Inc

77,287‌

5,034‌

Monolithic

Power

Systems

Inc

13,424‌

7,510‌

ON

Semiconductor

Corp

(d)

36,343‌

3,916‌

Rambus

Inc

(d)

49,300‌

3,087‌

$

19,547‌

Software

-

15

.61

%

Bentley

Systems

Inc

44,468‌

2,396‌

Confluent

Inc

(d)

74,799‌

2,583‌

Datadog

Inc

(d)

38,747‌

4,522‌

HubSpot

Inc

(d)

7,997‌

4,643‌

Manhattan

Associates

Inc

(d)

19,666‌

3,749‌

MongoDB

Inc

(d)

11,422‌

4,836‌

Snowflake

Inc

-

Class

A

(d)

27,430‌

4,875‌

Synopsys

Inc

(d)

10,869‌

4,911‌

Take-Two

Interactive

Software

Inc

(d)

15,831‌

2,421‌

Twilio

Inc

(d)

35,125‌

2,319‌

$

37,255‌

Telecommunications

-

1

.50

%

Motorola

Solutions

Inc

12,466‌

3,573‌

Transportation

-

1

.26

%

Old

Dominion

Freight

Line

Inc

7,151‌

3,000‌

TOTAL

COMMON

STOCKS

$

228,505‌

Total

Investments

$

243,586‌

Other

Assets

and

Liabilities

-  (2.05)%

(

4,895‌

)

TOTAL

NET

ASSETS

-

100.00%

$

238,691‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,029

or

1.69%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,996

or

1.67%

of

net

assets.

Schedule

of

Investments

MidCap

Growth

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

138

Portfolio

Summary

Sector

Percent

Consumer,

Non-cyclical

29

.74‌

%

Technology

23

.80‌

%

Industrial

18

.28‌

%

Consumer,

Cyclical

9

.93‌

%

Communications

7

.28‌

%

Money

Market

Funds

6

.32‌

%

Energy

4

.83‌

%

Financial

1

.87‌

%

Other

Assets

and

Liabilities

(

2

.05‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

196,757‌

$

185,705‌

$

11,052‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

11,495‌

15,496‌

26,991‌

—‌

$

11,495‌

$

212,253‌

$

212,696‌

$

11,052‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

151‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

28‌

—‌

—‌

—‌

$

179‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

MidCap

Growth

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

139

INVESTMENT

COMPANIES

-

1

.79

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.25

%

iShares

Russell

Mid-Cap

Growth

ETF

31,100‌

$

3,096‌

Money

Market

Funds

-

1

.54

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

230,255‌

230‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

18,813,976‌

18,814‌

$

19,044‌

TOTAL

INVESTMENT

COMPANIES

$

22,140‌

COMMON

STOCKS

-

98

.28

%

Shares

Held

Value

(000's)

Advertising

-

0

.36

%

Trade

Desk

Inc/The

(d)

48,693‌

$

4,444‌

Aerospace

&

Defense

-

1

.34

%

HEICO

Corp

73,415‌

12,920‌

HEICO

Corp

-

Class

A

3,204‌

450‌

Spirit

AeroSystems

Holdings

Inc

482‌

15‌

TransDigm

Group

Inc

3,564‌

3,206‌

$

16,591‌

Airlines

-

0

.02

%

American

Airlines

Group

Inc

(d)

10,731‌

180‌

Delta

Air

Lines

Inc

1,460‌

67‌

$

247‌

Apparel

-

0

.08

%

Crocs

Inc

(d)

2,707‌

294‌

Deckers

Outdoor

Corp

(d)

1,166‌

634‌

Skechers

USA

Inc

(d)

437‌

24‌

Tapestry

Inc

675‌

29‌

$

981‌

Automobile

Parts

&

Equipment

-

0

.59

%

Allison

Transmission

Holdings

Inc

395‌

23‌

Aptiv

PLC

(d)

67,101‌

7,347‌

$

7,370‌

Banks

-

0

.05

%

First

Citizens

BancShares

Inc/NC

53‌

76‌

NU

Holdings

Ltd/Cayman

Islands

(d)

70,387‌

560‌

$

636‌

Beverages

-

1

.84

%

Boston

Beer

Co

Inc/The

(d)

21,995‌

8,170‌

Brown-Forman

Corp

-

A

Shares

(e)

1,730‌

124‌

Brown-Forman

Corp

-

B

Shares

6,503‌

459‌

Celsius

Holdings

Inc

(d)

48,800‌

7,061‌

Monster

Beverage

Corp

(d)

120,463‌

6,926‌

$

22,740‌

Biotechnology

-

1

.81

%

Alnylam

Pharmaceuticals

Inc

(d)

19,838‌

3,876‌

Apellis

Pharmaceuticals

Inc

(d)

32,885‌

847‌

BioMarin

Pharmaceutical

Inc

(d)

28,662‌

2,520‌

Certara

Inc

(d)

1,927‌

38‌

Corteva

Inc

80,921‌

4,566‌

Exelixis

Inc

(d)

10,539‌

208‌

Horizon

Therapeutics

Plc

(d)

8,818‌

884‌

Illumina

Inc

(d)

2,098‌

403‌

Incyte

Corp

(d)

6,059‌

386‌

Ionis

Pharmaceuticals

Inc

(d)

5,459‌

226‌

Karuna

Therapeutics

Inc

(d)

12,691‌

2,536‌

Maravai

LifeSciences

Holdings

Inc

(d)

2,834‌

32‌

Moderna

Inc

(d)

20,784‌

2,446‌

Roivant

Sciences

Ltd

(d)

10,277‌

123‌

Sarepta

Therapeutics

Inc

(d)

17,843‌

1,934‌

Seagen

Inc

(d)

6,243‌

1,197‌

Ultragenyx

Pharmaceutical

Inc

(d)

3,011‌

130‌

$

22,352‌

Building

Materials

-

2

.11

%

Armstrong

World

Industries

Inc

584‌

45‌

Eagle

Materials

Inc

1,045‌

193‌

Fortune

Brands

Innovations

Inc

77,283‌

5,493‌

Martin

Marietta

Materials

Inc

20,354‌

9,087‌

Trane

Technologies

PLC

2,994‌

597‌

Trex

Co

Inc

(d)

150,190‌

10,384‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Building

Materials

(continued)

Vulcan

Materials

Co

1,299‌

$

286‌

$

26,085‌

Chemicals

-

0

.65

%

Albemarle

Corp

34,583‌

7,341‌

Axalta

Coating

Systems

Ltd

(d)

1,056‌

34‌

FMC

Corp

830‌

80‌

PPG

Industries

Inc

2,626‌

378‌

RPM

International

Inc

1,080‌

112‌

Valvoline

Inc

2,004‌

76‌

$

8,021‌

Commercial

Services

-

9

.28

%

Avis

Budget

Group

Inc

(d)

312‌

69‌

Block

Inc

(d)

8,986‌

724‌

Booz

Allen

Hamilton

Holding

Corp

59,117‌

7,158‌

Bright

Horizons

Family

Solutions

Inc

(d)

318‌

31‌

Cintas

Corp

3,435‌

1,725‌

CoStar

Group

Inc

(d)

174,818‌

14,679‌

Equifax

Inc

38,655‌

7,888‌

Euronet

Worldwide

Inc

(d)

60,335‌

5,301‌

FleetCor

Technologies

Inc

(d)

20,156‌

5,017‌

FTI

Consulting

Inc

(d)

275‌

48‌

Gartner

Inc

(d)

3,418‌

1,209‌

Global

Payments

Inc

49,079‌

5,411‌

Grand

Canyon

Education

Inc

(d)

374‌

41‌

GXO

Logistics

Inc

(d)

136,567‌

9,160‌

H&R

Block

Inc

4,381‌

147‌

MarketAxess

Holdings

Inc

46,450‌

12,506‌

Moody's

Corp

21,076‌

7,435‌

Morningstar

Inc

1,143‌

263‌

Paylocity

Holding

Corp

(d)

1,869‌

424‌

Quanta

Services

Inc

23,285‌

4,695‌

RB

Global

Inc

169,542‌

10,932‌

Rollins

Inc

9,845‌

402‌

Service

Corp

International/US

2,412‌

161‌

Shift4

Payments

Inc

(d)

2,420‌

167‌

Toast

Inc

(d)

210,383‌

4,643‌

TransUnion

41,466‌

3,304‌

U-Haul

Holding

Co

1,381‌

79‌

U-Haul

Holding

Co

154‌

9‌

United

Rentals

Inc

20,510‌

9,530‌

Verisk

Analytics

Inc

6,356‌

1,455‌

WEX

Inc

(d)

873‌

165‌

WillScot

Mobile

Mini

Holdings

Corp

(d)

2,209‌

106‌

$

114,884‌

Computers

-

2

.55

%

Crowdstrike

Holdings

Inc

(d)

64,504‌

10,428‌

EPAM

Systems

Inc

(d)

32,826‌

7,773‌

Genpact

Ltd

1,990‌

72‌

Globant

SA

(d)

66,278‌

11,581‌

HP

Inc

7,855‌

258‌

KBR

Inc

2,194‌

135‌

NetApp

Inc

3,794‌

296‌

Pure

Storage

Inc

(d)

9,794‌

362‌

Zscaler

Inc

(d)

3,886‌

623‌

$

31,528‌

Consumer

Products

-

0

.16

%

Avery

Dennison

Corp

1,184‌

218‌

Church

&

Dwight

Co

Inc

9,749‌

933‌

Clorox

Co/The

5,508‌

834‌

$

1,985‌

Distribution

&

Wholesale

-

5

.88

%

Copart

Inc

(d)

173,205‌

15,309‌

Fastenal

Co

183,658‌

10,764‌

Ferguson

PLC

45,867‌

7,413‌

Pool

Corp

35,696‌

13,734‌

SiteOne

Landscape

Supply

Inc

(d)

638‌

109‌

Watsco

Inc

31,621‌

11,959‌

WW

Grainger

Inc

18,212‌

13,449‌

$

72,737‌

Schedule

of

Investments

MidCap

Growth

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

140

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Diversified

Financial

Services

-

1

.09

%

Ameriprise

Financial

Inc

4,683‌

$

1,632‌

Apollo

Global

Management

Inc

23,244‌

1,899‌

Blue

Owl

Capital

Inc

2,966‌

37‌

Houlihan

Lokey

Inc

163‌

16‌

LPL

Financial

Holdings

Inc

41,708‌

9,567‌

Rocket

Cos

Inc

(d)

1,997‌

22‌

SLM

Corp

4,230‌

68‌

TPG

Inc

829‌

24‌

Tradeweb

Markets

Inc

1,775‌

145‌

UWM

Holdings

Corp

1,482‌

10‌

Western

Union

Co/The

2,452‌

30‌

XP

Inc

(d)

1,228‌

33‌

$

13,483‌

Electric

-

0

.04

%

AES

Corp/The

18,177‌

393‌

Vistra

Corp

4,867‌

137‌

$

530‌

Electrical

Components

&

Equipment

-

0

.58

%

ChargePoint

Holdings

Inc

(d),(e)

12,448‌

108‌

Generac

Holdings

Inc

(d)

45,482‌

6,991‌

Universal

Display

Corp

941‌

137‌

$

7,236‌

Electronics

-

0

.77

%

Agilent

Technologies

Inc

10,696‌

1,302‌

Allegion

plc

3,614‌

422‌

Amphenol

Corp

13,070‌

1,154‌

Hubbell

Inc

1,087‌

339‌

Jabil

Inc

3,617‌

400‌

Keysight

Technologies

Inc

(d)

26,886‌

4,331‌

Mettler-Toledo

International

Inc

(d)

969‌

1,219‌

National

Instruments

Corp

4,563‌

269‌

Vontier

Corp

2,344‌

73‌

$

9,509‌

Energy

-

Alternate

Sources

-

0

.53

%

Enphase

Energy

Inc

(d)

5,927‌

900‌

SolarEdge

Technologies

Inc

(d)

23,214‌

5,605‌

$

6,505‌

Engineering

&

Construction

-

0

.01

%

EMCOR

Group

Inc

721‌

155‌

TopBuild

Corp

(d)

93‌

26‌

$

181‌

Entertainment

-

1

.69

%

Caesars

Entertainment

Inc

(d)

70,557‌

4,164‌

Churchill

Downs

Inc

56,852‌

6,586‌

DraftKings

Inc

(d)

18,619‌

592‌

Live

Nation

Entertainment

Inc

(d)

1,576‌

138‌

Vail

Resorts

Inc

39,899‌

9,396‌

$

20,876‌

Environmental

Control

-

1

.12

%

Tetra

Tech

Inc

428‌

72‌

Waste

Connections

Inc

97,613‌

13,780‌

$

13,852‌

Food

-

0

.79

%

Albertsons

Cos

Inc

1,595‌

35‌

Lamb

Weston

Holdings

Inc

92,706‌

9,607‌

Performance

Food

Group

Co

(d)

3,206‌

191‌

$

9,833‌

Hand

&

Machine

Tools

-

0

.04

%

Lincoln

Electric

Holdings

Inc

2,323‌

466‌

MSA

Safety

Inc

278‌

46‌

$

512‌

Healthcare

-

Products

-

9

.50

%

10X

Genomics

Inc

(d)

49,714‌

3,131‌

Align

Technology

Inc

(d)

52,094‌

19,686‌

Bio-Techne

Corp

52,171‌

4,351‌

Bruker

Corp

4,728‌

325‌

Exact

Sciences

Corp

(d)

2,758‌

269‌

IDEXX

Laboratories

Inc

(d)

56,047‌

31,091‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Products

(continued)

Inspire

Medical

Systems

Inc

(d)

1,280‌

$

368‌

Insulet

Corp

(d)

45,257‌

12,525‌

Masimo

Corp

(d)

2,115‌

259‌

Natera

Inc

(d)

4,610‌

208‌

Novocure

Ltd

(d)

4,672‌

152‌

Penumbra

Inc

(d)

23,578‌

7,153‌

Repligen

Corp

(d)

66,374‌

11,388‌

ResMed

Inc

52,252‌

11,618‌

Shockwave

Medical

Inc

(d)

19,727‌

5,141‌

Tandem

Diabetes

Care

Inc

(d)

389‌

14‌

Waters

Corp

(d)

2,607‌

720‌

West

Pharmaceutical

Services

Inc

24,890‌

9,160‌

$

117,559‌

Healthcare

-

Services

-

2

.17

%

agilon

health

Inc

(d)

10,968‌

210‌

Chemed

Corp

6,390‌

3,329‌

DaVita

Inc

(d)

2,403‌

245‌

Encompass

Health

Corp

299‌

20‌

Ginkgo

Bioworks

Holdings

Inc

(d)

6,224‌

16‌

ICON

PLC

(d)

52,547‌

13,211‌

IQVIA

Holdings

Inc

(d)

40,811‌

9,132‌

Medpace

Holdings

Inc

(d)

1,036‌

262‌

Molina

Healthcare

Inc

(d)

1,399‌

426‌

Sotera

Health

Co

(d)

3,107‌

59‌

$

26,910‌

Home

Builders

-

0

.63

%

DR

Horton

Inc

61,094‌

7,760‌

NVR

Inc

(d)

12‌

76‌

$

7,836‌

Home

Furnishings

-

0

.01

%

Tempur

Sealy

International

Inc

1,508‌

67‌

Housewares

-

0

.01

%

Scotts

Miracle-Gro

Co/The

1,838‌

129‌

Insurance

-

1

.05

%

Arch

Capital

Group

Ltd

(d)

2,249‌

175‌

Arthur

J

Gallagher

&

Co

529‌

113‌

Brighthouse

Financial

Inc

(d)

302‌

16‌

Brown

&

Brown

Inc

4,119‌

290‌

Equitable

Holdings

Inc

15,919‌

457‌

Everest

Group

Ltd

255‌

92‌

Kinsale

Capital

Group

Inc

29,800‌

11,104‌

Lincoln

National

Corp

702‌

20‌

Primerica

Inc

1,047‌

223‌

RenaissanceRe

Holdings

Ltd

580‌

108‌

RLI

Corp

395‌

53‌

Ryan

Specialty

Holdings

Inc

(d)

4,131‌

179‌

Willis

Towers

Watson

PLC

592‌

125‌

$

12,955‌

Internet

-

2

.45

%

CDW

Corp/DE

65,891‌

12,326‌

Coupang

Inc

(d)

48,806‌

886‌

DoorDash

Inc

-

Class

A

(d)

10,524‌

955‌

eBay

Inc

1,478‌

66‌

Etsy

Inc

(d)

3,066‌

312‌

Expedia

Group

Inc

(d)

4,683‌

574‌

Gen

Digital

Inc

3,851‌

75‌

GoDaddy

Inc

(d)

4,160‌

321‌

Lyft

Inc

(d)

13,651‌

173‌

Match

Group

Inc

(d)

112,283‌

5,222‌

Okta

Inc

(d)

430‌

33‌

Palo

Alto

Networks

Inc

(d)

30,049‌

7,511‌

Pinterest

Inc

(d)

26,426‌

766‌

Roku

Inc

(d)

682‌

66‌

Spotify

Technology

SA

(d)

6,244‌

933‌

VeriSign

Inc

(d)

214‌

45‌

Wayfair

Inc

(d)

1,284‌

100‌

$

30,364‌

Schedule

of

Investments

MidCap

Growth

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

141

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Leisure

Products

&

Services

-

0

.66

%

Brunswick

Corp/DE

254‌

$

22‌

Norwegian

Cruise

Line

Holdings

Ltd

(d)

4,536‌

100‌

Peloton

Interactive

Inc

(d)

13,726‌

133‌

Planet

Fitness

Inc

(d)

108,521‌

7,330‌

Polaris

Inc

212‌

29‌

Royal

Caribbean

Cruises

Ltd

(d)

3,137‌

342‌

YETI

Holdings

Inc

(d)

3,857‌

164‌

$

8,120‌

Lodging

-

0

.68

%

Choice

Hotels

International

Inc

1,352‌

176‌

Hilton

Worldwide

Holdings

Inc

5,247‌

816‌

Hyatt

Hotels

Corp

57,736‌

7,295‌

Travel

+

Leisure

Co

1,499‌

61‌

Wyndham

Hotels

&

Resorts

Inc

268‌

21‌

Wynn

Resorts

Ltd

284‌

31‌

$

8,400‌

Machinery

-

Construction

&

Mining

-

0

.01

%

BWX

Technologies

Inc

698‌

48‌

Vertiv

Holdings

Co

1,053‌

28‌

$

76‌

Machinery

-

Diversified

-

5

.06

%

Chart

Industries

Inc

(d)

25,738‌

4,689‌

Cognex

Corp

91,165‌

4,979‌

Graco

Inc

123,956‌

9,834‌

IDEX

Corp

48,518‌

10,956‌

Ingersoll

Rand

Inc

142,380‌

9,293‌

Otis

Worldwide

Corp

1,088‌

99‌

Rockwell

Automation

Inc

18,453‌

6,205‌

Toro

Co/The

57,151‌

5,809‌

Westinghouse

Air

Brake

Technologies

Corp

89,395‌

10,588‌

Xylem

Inc/NY

1,259‌

142‌

$

62,594‌

Media

-

0

.09

%

Cable

One

Inc

19‌

14‌

FactSet

Research

Systems

Inc

1,708‌

743‌

Liberty

Broadband

Corp

-

A

Shares

(d)

154‌

14‌

Liberty

Broadband

Corp

-

C

Shares

(d)

1,076‌

96‌

Nexstar

Media

Group

Inc

522‌

97‌

World

Wrestling

Entertainment

Inc

1,919‌

201‌

$

1,165‌

Metal

Fabrication

&

Hardware

-

0

.77

%

Advanced

Drainage

Systems

Inc

2,772‌

338‌

RBC

Bearings

Inc

(d)

40,506‌

9,156‌

Valmont

Industries

Inc

62‌

17‌

$

9,511‌

Miscellaneous

Manufacturers

-

0

.44

%

A

O

Smith

Corp

586‌

43‌

Axon

Enterprise

Inc

(d)

28,573‌

5,313‌

Donaldson

Co

Inc

2,237‌

140‌

$

5,496‌

Office

&

Business

Equipment

-

0

.01

%

Zebra

Technologies

Corp

(d)

411‌

127‌

Oil

&

Gas

-

1

.21

%

Antero

Resources

Corp

(d)

145,203‌

3,884‌

APA

Corp

12,244‌

496‌

Diamondback

Energy

Inc

60,817‌

8,959‌

Hess

Corp

6,910‌

1,048‌

Ovintiv

Inc

4,788‌

221‌

Texas

Pacific

Land

Corp

256‌

386‌

$

14,994‌

Oil

&

Gas

Services

-

1

.68

%

Baker

Hughes

Co

390,905‌

13,991‌

Halliburton

Co

174,635‌

6,824‌

$

20,815‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Packaging

&

Containers

-

0

.03

%

Ardagh

Metal

Packaging

SA

5,941‌

$

22‌

Graphic

Packaging

Holding

Co

7,256‌

176‌

Sealed

Air

Corp

3,542‌

162‌

$

360‌

Pharmaceuticals

-

3

.83

%

AmerisourceBergen

Corp

50,334‌

9,408‌

Cardinal

Health

Inc

5,882‌

538‌

Dexcom

Inc

(d)

218,502‌

27,216‌

Jazz

Pharmaceuticals

PLC

(d)

1,407‌

184‌

Neurocrine

Biosciences

Inc

(d)

49,294‌

5,022‌

Zoetis

Inc

26,662‌

5,015‌

$

47,383‌

Pipelines

-

0

.22

%

Antero

Midstream

Corp

5,042‌

60‌

Cheniere

Energy

Inc

10,803‌

1,748‌

New

Fortress

Energy

Inc

2,884‌

82‌

ONEOK

Inc

1,098‌

74‌

Targa

Resources

Corp

9,960‌

817‌

$

2,781‌

Private

Equity

-

0

.09

%

Ares

Management

Corp

7,137‌

708‌

KKR

&

Co

Inc

7,079‌

420‌

$

1,128‌

REITs

-

0

.88

%

EastGroup

Properties

Inc

14,932‌

2,646‌

Equity

LifeStyle

Properties

Inc

2,589‌

184‌

Iron

Mountain

Inc

6,387‌

392‌

Lamar

Advertising

Co

2,983‌

294‌

SBA

Communications

Corp

31,285‌

6,850‌

Simon

Property

Group

Inc

3,152‌

393‌

Sun

Communities

Inc

1,193‌

156‌

UDR

Inc

818‌

33‌

$

10,948‌

Retail

-

8

.16

%

AutoZone

Inc

(d)

2,121‌

5,264‌

Best

Buy

Co

Inc

1,191‌

99‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

2,052‌

136‌

Burlington

Stores

Inc

(d)

2,876‌

511‌

CarMax

Inc

(d)

395‌

33‌

Casey's

General

Stores

Inc

22,641‌

5,721‌

Chipotle

Mexican

Grill

Inc

(d)

5,372‌

10,541‌

Darden

Restaurants

Inc

2,512‌

424‌

Dick's

Sporting

Goods

Inc

197‌

28‌

Dollar

Tree

Inc

(d)

70,421‌

10,868‌

Domino's

Pizza

Inc

1,575‌

625‌

Five

Below

Inc

(d)

72,987‌

15,206‌

Floor

&

Decor

Holdings

Inc

(d)

101,270‌

11,631‌

Freshpet

Inc

(d)

42,163‌

3,100‌

Lululemon

Athletica

Inc

(d)

13,072‌

4,948‌

Murphy

USA

Inc

832‌

255‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

881‌

64‌

RH

(d)

119‌

46‌

Ross

Stores

Inc

81,810‌

9,378‌

Texas

Roadhouse

Inc

2,976‌

332‌

Tractor

Supply

Co

58,416‌

13,085‌

Ulta

Beauty

Inc

(d)

15,218‌

6,769‌

Victoria's

Secret

&

Co

(d)

1,555‌

32‌

Wendy's

Co/The

7,701‌

166‌

Williams-Sonoma

Inc

375‌

52‌

Wingstop

Inc

1,333‌

225‌

Yum!

Brands

Inc

10,967‌

1,510‌

$

101,049‌

Semiconductors

-

4

.36

%

Allegro

MicroSystems

Inc

(d)

2,976‌

154‌

Entegris

Inc

91,668‌

10,057‌

Lattice

Semiconductor

Corp

(d)

120,913‌

10,996‌

Marvell

Technology

Inc

170,293‌

11,091‌

Microchip

Technology

Inc

17,086‌

1,605‌

Schedule

of

Investments

MidCap

Growth

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

142

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

(continued)

Monolithic

Power

Systems

Inc

34,811‌

$

19,476‌

Teradyne

Inc

5,782‌

653‌

$

54,032‌

Software

-

18

.70

%

Alteryx

Inc

(d)

2,726‌

113‌

ANSYS

Inc

(d)

35,318‌

12,082‌

AppLovin

Corp

(d)

2,609‌

82‌

Bentley

Systems

Inc

112,031‌

6,036‌

BILL

Holdings

Inc

(d)

51,475‌

6,452‌

Broadridge

Financial

Solutions

Inc

77,866‌

13,076‌

Ceridian

HCM

Holding

Inc

(d)

567‌

40‌

Cloudflare

Inc

(d)

12,811‌

881‌

Confluent

Inc

(d)

8,241‌

285‌

Datadog

Inc

(d)

62,797‌

7,330‌

Descartes

Systems

Group

Inc/The

(d)

67,943‌

5,291‌

DocuSign

Inc

(d)

9,008‌

485‌

DoubleVerify

Holdings

Inc

(d)

5,007‌

211‌

Doximity

Inc

(d)

220,647‌

7,883‌

Dropbox

Inc

-

A

Shares

(d)

10,365‌

279‌

Dynatrace

Inc

(d)

110,454‌

6,041‌

Elastic

NV

(d)

3,463‌

230‌

Fair

Isaac

Corp

(d)

6,587‌

5,519‌

Five9

Inc

(d)

43,888‌

3,851‌

Gitlab

Inc

(d)

2,176‌

108‌

HashiCorp

Inc

(d)

2,827‌

84‌

HubSpot

Inc

(d)

7,082‌

4,111‌

Informatica

Inc

(d)

151‌

3‌

Jack

Henry

&

Associates

Inc

51,830‌

8,685‌

Manhattan

Associates

Inc

(d)

2,744‌

523‌

MongoDB

Inc

(d)

2,924‌

1,238‌

MSCI

Inc

42,214‌

23,136‌

nCino

Inc

(d)

278‌

9‌

New

Relic

Inc

(d)

2,452‌

206‌

Nutanix

Inc

(d)

2,488‌

75‌

Palantir

Technologies

Inc

(d)

83,452‌

1,656‌

Paychex

Inc

14,356‌

1,801‌

Paycom

Software

Inc

53,873‌

19,867‌

Paycor

HCM

Inc

(d)

1,126‌

30‌

Pegasystems

Inc

1,867‌

99‌

Playtika

Holding

Corp

(d)

892‌

11‌

Procore

Technologies

Inc

(d)

3,494‌

265‌

PTC

Inc

(d)

130,167‌

18,979‌

RingCentral

Inc

(d)

3,799‌

157‌

ROBLOX

Corp

(d)

20,450‌

803‌

SentinelOne

Inc

(d)

1,125‌

19‌

Smartsheet

Inc

(d)

5,586‌

248‌

Snowflake

Inc

-

Class

A

(d)

16,790‌

2,984‌

Splunk

Inc

(d)

7,168‌

777‌

Synopsys

Inc

(d)

37,005‌

16,719‌

Take-Two

Interactive

Software

Inc

(d)

34,514‌

5,279‌

Teradata

Corp

(d)

4,528‌

257‌

Twilio

Inc

(d)

1,246‌

82‌

Tyler

Technologies

Inc

(d)

56,415‌

22,376‌

UiPath

Inc

(d)

12,830‌

232‌

Unity

Software

Inc

(d)

5,044‌

231‌

Veeva

Systems

Inc

(d)

90,186‌

18,417‌

ZoomInfo

Technologies

Inc

(d)

227,919‌

5,828‌

$

231,462‌

Telecommunications

-

0

.36

%

Arista

Networks

Inc

(d)

27,030‌

4,192‌

Iridium

Communications

Inc

5,197‌

273‌

Ubiquiti

Inc

155‌

28‌

$

4,493‌

Transportation

-

1

.84

%

CH

Robinson

Worldwide

Inc

3,988‌

399‌

Expeditors

International

of

Washington

Inc

926‌

118‌

JB

Hunt

Transport

Services

Inc

47,164‌

9,618‌

Landstar

System

Inc

1,266‌

258‌

Old

Dominion

Freight

Line

Inc

29,509‌

12,379‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Transportation

(continued)

Saia

Inc

(d)

129‌

$

55‌

$

22,827‌

TOTAL

COMMON

STOCKS

$

1,216,699‌

Total

Investments

$

1,238,839‌

Other

Assets

and

Liabilities

-  (0.07)%

(

869‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,237,970‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$230

or

0.02%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$230

or

0.02%

of

net

assets.

Portfolio

Summary

Sector

Percent

Consumer,

Non-cyclical

29

.38‌

%

Technology

25

.62‌

%

Consumer,

Cyclical

18

.41‌

%

Industrial

14

.12‌

%

Energy

3

.64‌

%

Communications

3

.26‌

%

Financial

3

.16‌

%

Money

Market

Funds

1

.54‌

%

Basic

Materials

0

.65‌

%

Exchange-Traded

Funds

0

.25‌

%

Utilities

0

.04‌

%

Other

Assets

and

Liabilities

(

0

.07‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

MidCap

Growth

Fund

III

July

31,

2023

(unaudited)

See

accompanying

notes.

143

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

337,221‌

$

318,407‌

$

18,814‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

36,946‌

48,700‌

85,646‌

—‌

$

36,946‌

$

385,921‌

$

404,053‌

$

18,814‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

915‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

159‌

—‌

—‌

—‌

$

1,074‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

Mid

400

Emini;

September

2023

Long

25‌

$

6,859‌

$

333‌

Total

$

333‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

144

INVESTMENT

COMPANIES

-

2

.41

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.29

%

iShares

Core

S&P

Mid-Cap

ETF

14,500‌

$

3,950‌

Money

Market

Funds

-

2

.12

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

3,203,303‌

3,203‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

26,074,046‌

26,074‌

$

29,277‌

TOTAL

INVESTMENT

COMPANIES

$

33,227‌

COMMON

STOCKS

-

97

.74

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

0

.64

%

Curtiss-Wright

Corp

21,795‌

$

4,171‌

Hexcel

Corp

47,960‌

3,390‌

Mercury

Systems

Inc

(d)

33,077‌

1,256‌

$

8,817‌

Agriculture

-

0

.46

%

Darling

Ingredients

Inc

(d)

90,701‌

6,281‌

Airlines

-

0

.10

%

JetBlue

Airways

Corp

(d)

186,387‌

1,448‌

Apparel

-

1

.95

%

Capri

Holdings

Ltd

(d)

71,456‌

2,637‌

Carter's

Inc

21,423‌

1,607‌

Columbia

Sportswear

Co

20,101‌

1,580‌

Crocs

Inc

(d)

35,256‌

3,820‌

Deckers

Outdoor

Corp

(d)

14,983‌

8,146‌

PVH

Corp

35,691‌

3,199‌

Skechers

USA

Inc

(d)

76,324‌

4,242‌

Under

Armour

Inc

-

Class

A

(d)

107,264‌

865‌

Under

Armour

Inc

-

Class

C

(d)

107,759‌

800‌

$

26,896‌

Automobile

Parts

&

Equipment

-

1

.75

%

Adient

PLC

(d)

53,831‌

2,291‌

Autoliv

Inc

43,908‌

4,432‌

Fox

Factory

Holding

Corp

(d)

24,047‌

2,691‌

Gentex

Corp

132,843‌

4,461‌

Goodyear

Tire

&

Rubber

Co/The

(d)

161,108‌

2,591‌

Lear

Corp

33,552‌

5,192‌

Visteon

Corp

(d)

16,115‌

2,483‌

$

24,141‌

Banks

-

5

.28

%

Associated

Banc-Corp

85,770‌

1,625‌

Bank

OZK

61,272‌

2,679‌

Cadence

Bank

103,851‌

2,602‌

Cathay

General

Bancorp

41,231‌

1,569‌

Columbia

Banking

System

Inc

118,493‌

2,648‌

Commerce

Bancshares

Inc/MO

64,512‌

3,431‌

Cullen/Frost

Bankers

Inc

36,605‌

3,975‌

East

West

Bancorp

Inc

80,410‌

5,002‌

First

Financial

Bankshares

Inc

73,830‌

2,406‌

First

Horizon

Corp

305,706‌

4,167‌

FNB

Corp/PA

205,239‌

2,625‌

Glacier

Bancorp

Inc

63,021‌

2,061‌

Hancock

Whitney

Corp

48,929‌

2,153‌

Home

BancShares

Inc/AR

107,207‌

2,606‌

International

Bancshares

Corp

30,012‌

1,490‌

Old

National

Bancorp/IN

166,321‌

2,833‌

Pinnacle

Financial

Partners

Inc

43,623‌

3,311‌

Prosperity

Bancshares

Inc

53,590‌

3,393‌

SouthState

Corp

43,157‌

3,352‌

Synovus

Financial

Corp

83,057‌

2,816‌

Texas

Capital

Bancshares

Inc

(d)

27,211‌

1,737‌

UMB

Financial

Corp

24,817‌

1,762‌

United

Bankshares

Inc/WV

76,503‌

2,558‌

Valley

National

Bancorp

239,613‌

2,459‌

Webster

Financial

Corp

99,330‌

4,700‌

Wintrust

Financial

Corp

34,784‌

2,934‌

$

72,894‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Beverages

-

0

.51

%

Boston

Beer

Co

Inc/The

(d)

5,337‌

$

1,982‌

Celsius

Holdings

Inc

(d)

23,135‌

3,348‌

Coca-Cola

Consolidated

Inc

2,617‌

1,658‌

$

6,988‌

Biotechnology

-

1

.12

%

Arrowhead

Pharmaceuticals

Inc

(d)

60,765‌

2,098‌

Exelixis

Inc

(d)

185,100‌

3,648‌

Halozyme

Therapeutics

Inc

(d)

74,851‌

3,216‌

United

Therapeutics

Corp

(d)

26,629‌

6,463‌

$

15,425‌

Building

Materials

-

3

.77

%

Builders

FirstSource

Inc

(d)

72,854‌

10,522‌

Eagle

Materials

Inc

20,493‌

3,778‌

Fortune

Brands

Innovations

Inc

72,026‌

5,119‌

Knife

River

Corp

(d)

28,938‌

1,258‌

Lennox

International

Inc

18,365‌

6,748‌

Louisiana-Pacific

Corp

40,951‌

3,118‌

MDU

Resources

Group

Inc

115,753‌

2,561‌

Owens

Corning

51,220‌

7,170‌

Simpson

Manufacturing

Co

Inc

24,256‌

3,832‌

Trex

Co

Inc

(d)

61,847‌

4,276‌

UFP

Industries

Inc

35,297‌

3,627‌

$

52,009‌

Chemicals

-

2

.49

%

Ashland

Inc

27,611‌

2,522‌

Avient

Corp

48,661‌

1,972‌

Axalta

Coating

Systems

Ltd

(d)

125,925‌

4,030‌

Cabot

Corp

31,914‌

2,266‌

Chemours

Co/The

84,784‌

3,135‌

NewMarket

Corp

3,776‌

1,706‌

Olin

Corp

68,340‌

3,942‌

RPM

International

Inc

73,278‌

7,570‌

Sensient

Technologies

Corp

24,013‌

1,538‌

Valvoline

Inc

78,964‌

2,998‌

Westlake

Corp

19,590‌

2,694‌

$

34,373‌

Commercial

Services

-

3

.94

%

Aramark

148,137‌

5,980‌

ASGN

Inc

(d)

28,022‌

2,139‌

Avis

Budget

Group

Inc

(d)

13,561‌

2,987‌

Brink's

Co/The

26,388‌

1,925‌

Euronet

Worldwide

Inc

(d)

26,798‌

2,355‌

FTI

Consulting

Inc

(d)

19,316‌

3,384‌

Graham

Holdings

Co

2,149‌

1,261‌

Grand

Canyon

Education

Inc

(d)

17,466‌

1,896‌

GXO

Logistics

Inc

(d)

67,602‌

4,534‌

H&R

Block

Inc

86,563‌

2,909‌

Hertz

Global

Holdings

Inc

(d)

89,595‌

1,510‌

Insperity

Inc

20,419‌

2,402‌

ManpowerGroup

Inc

28,664‌

2,261‌

Paylocity

Holding

Corp

(d)

23,479‌

5,326‌

Progyny

Inc

(d)

43,468‌

1,815‌

R1

RCM

Inc

(d)

78,447‌

1,356‌

Service

Corp

International/US

85,930‌

5,727‌

WEX

Inc

(d)

24,353‌

4,611‌

$

54,378‌

Computers

-

2

.95

%

CACI

International

Inc

(d)

12,956‌

4,540‌

Crane

NXT

Co

27,409‌

1,621‌

ExlService

Holdings

Inc

(d)

18,900‌

2,664‌

Genpact

Ltd

96,302‌

3,476‌

KBR

Inc

77,148‌

4,744‌

Kyndryl

Holdings

Inc

(d)

116,388‌

1,590‌

Lumentum

Holdings

Inc

(d)

39,051‌

2,045‌

Maximus

Inc

34,551‌

2,894‌

NCR

Corp

(d)

79,808‌

2,145‌

Qualys

Inc

(d)

19,085‌

2,649‌

Science

Applications

International

Corp

30,691‌

3,724‌

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

145

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Computers

(continued)

Super

Micro

Computer

Inc

(d)

25,958‌

$

8,573‌

$

40,665‌

Consumer

Products

-

0

.14

%

Helen

of

Troy

Ltd

(d)

13,664‌

1,931‌

Cosmetics

&

Personal

Care

-

0

.18

%

Coty

Inc

(d)

208,443‌

2,510‌

Distribution

&

Wholesale

-

1

.08

%

Univar

Solutions

Inc

(d)

89,666‌

3,240‌

Watsco

Inc

18,999‌

7,185‌

WESCO

International

Inc

25,646‌

4,503‌

$

14,928‌

Diversified

Financial

Services

-

2

.53

%

Affiliated

Managers

Group

Inc

20,521‌

2,845‌

Evercore

Inc

-

Class

A

20,054‌

2,708‌

Federated

Hermes

Inc

48,336‌

1,635‌

Interactive

Brokers

Group

Inc

-

A

Shares

58,544‌

5,113‌

Janus

Henderson

Group

PLC

75,332‌

2,211‌

Jefferies

Financial

Group

Inc

106,136‌

3,905‌

SEI

Investments

Co

57,589‌

3,628‌

SLM

Corp

137,774‌

2,229‌

Stifel

Financial

Corp

60,328‌

3,833‌

Voya

Financial

Inc

55,860‌

4,148‌

Western

Union

Co/The

212,857‌

2,593‌

$

34,848‌

Electric

-

1

.65

%

ALLETE

Inc

32,579‌

1,871‌

Black

Hills

Corp

37,890‌

2,286‌

Hawaiian

Electric

Industries

Inc

62,284‌

2,391‌

IDACORP

Inc

28,767‌

2,958‌

NorthWestern

Corp

33,987‌

1,919‌

OGE

Energy

Corp

113,848‌

4,116‌

Ormat

Technologies

Inc

29,866‌

2,428‌

PNM

Resources

Inc

48,791‌

2,187‌

Portland

General

Electric

Co

54,920‌

2,618‌

$

22,774‌

Electrical

Components

&

Equipment

-

1

.50

%

Acuity

Brands

Inc

18,075‌

2,987‌

Belden

Inc

24,187‌

2,337‌

Energizer

Holdings

Inc

37,784‌

1,349‌

EnerSys

23,220‌

2,515‌

Littelfuse

Inc

14,116‌

4,300‌

Novanta

Inc

(d)

20,354‌

3,601‌

Universal

Display

Corp

24,754‌

3,611‌

$

20,700‌

Electronics

-

3

.66

%

Arrow

Electronics

Inc

(d)

32,108‌

4,577‌

Avnet

Inc

51,953‌

2,520‌

Coherent

Corp

(d)

79,226‌

3,752‌

Hubbell

Inc

30,462‌

9,504‌

Jabil

Inc

75,421‌

8,347‌

National

Instruments

Corp

74,748‌

4,410‌

nVent

Electric

PLC

94,169‌

4,980‌

TD

SYNNEX

Corp

23,599‌

2,329‌

Vicor

Corp

(d)

12,735‌

1,175‌

Vishay

Intertechnology

Inc

72,523‌

2,041‌

Vontier

Corp

88,458‌

2,736‌

Woodward

Inc

34,126‌

4,108‌

$

50,479‌

Energy

-

Alternate

Sources

-

0

.17

%

Sunrun

Inc

(d)

122,559‌

2,326‌

Engineering

&

Construction

-

1

.94

%

AECOM

79,010‌

6,874‌

EMCOR

Group

Inc

27,027‌

5,812‌

Exponent

Inc

28,895‌

2,589‌

Fluor

Corp

(d)

81,420‌

2,522‌

MasTec

Inc

(d)

33,913‌

3,993‌

TopBuild

Corp

(d)

18,048‌

4,944‌

$

26,734‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Entertainment

-

0

.94

%

Churchill

Downs

Inc

37,449‌

$

4,339‌

Light

&

Wonder

Inc

(d)

51,795‌

3,641‌

Marriott

Vacations

Worldwide

Corp

20,923‌

2,689‌

Penn

Entertainment

Inc

(d)

87,604‌

2,303‌

$

12,972‌

Environmental

Control

-

0

.88

%

Clean

Harbors

Inc

(d)

28,602‌

4,755‌

Stericycle

Inc

(d)

52,548‌

2,233‌

Tetra

Tech

Inc

30,258‌

5,120‌

$

12,108‌

Food

-

1

.96

%

Flowers

Foods

Inc

109,571‌

2,708‌

Grocery

Outlet

Holding

Corp

(d)

50,840‌

1,701‌

Ingredion

Inc

37,525‌

4,175‌

Lancaster

Colony

Corp

11,265‌

2,170‌

Performance

Food

Group

Co

(d)

88,757‌

5,304‌

Pilgrim's

Pride

Corp

(d)

25,568‌

633‌

Post

Holdings

Inc

(d)

30,435‌

2,596‌

Sprouts

Farmers

Market

Inc

(d)

58,576‌

2,299‌

US

Foods

Holding

Corp

(d)

128,820‌

5,504‌

$

27,090‌

Gas

-

1

.11

%

National

Fuel

Gas

Co

52,184‌

2,772‌

New

Jersey

Resources

Corp

55,117‌

2,464‌

ONE

Gas

Inc

31,484‌

2,491‌

Southwest

Gas

Holdings

Inc

37,306‌

2,460‌

Spire

Inc

29,898‌

1,901‌

UGI

Corp

118,987‌

3,211‌

$

15,299‌

Hand

&

Machine

Tools

-

1

.16

%

Lincoln

Electric

Holdings

Inc

32,727‌

6,569‌

MSA

Safety

Inc

20,982‌

3,483‌

Regal

Rexnord

Corp

37,676‌

5,884‌

$

15,936‌

Healthcare

-

Products

-

4

.16

%

Azenta

Inc

(d)

37,042‌

1,740‌

Bruker

Corp

56,714‌

3,897‌

Enovis

Corp

(d)

27,259‌

1,742‌

Envista

Holdings

Corp

(d)

93,052‌

3,202‌

Globus

Medical

Inc

(d)

45,418‌

2,737‌

Haemonetics

Corp

(d)

28,676‌

2,645‌

ICU

Medical

Inc

(d)

11,491‌

2,048‌

Inari

Medical

Inc

(d)

29,247‌

1,669‌

Integra

LifeSciences

Holdings

Corp

(d)

40,504‌

1,842‌

Lantheus

Holdings

Inc

(d)

38,842‌

3,359‌

LivaNova

PLC

(d)

30,564‌

1,787‌

Masimo

Corp

(d)

27,602‌

3,376‌

Neogen

Corp

(d)

122,906‌

2,850‌

Omnicell

Inc

(d)

25,626‌

1,618‌

Patterson

Cos

Inc

49,431‌

1,626‌

Penumbra

Inc

(d)

21,746‌

6,597‌

QuidelOrtho

Corp

(d)

30,680‌

2,680‌

Repligen

Corp

(d)

29,436‌

5,050‌

Shockwave

Medical

Inc

(d)

20,821‌

5,426‌

STAAR

Surgical

Co

(d)

27,474‌

1,505‌

$

57,396‌

Healthcare

-

Services

-

2

.09

%

Acadia

Healthcare

Co

Inc

(d)

52,315‌

4,134‌

Amedisys

Inc

(d)

18,522‌

1,683‌

Chemed

Corp

8,538‌

4,449‌

Encompass

Health

Corp

56,976‌

3,762‌

HealthEquity

Inc

(d)

48,583‌

3,301‌

Medpace

Holdings

Inc

(d)

14,043‌

3,555‌

Sotera

Health

Co

(d)

56,206‌

1,067‌

Syneos

Health

Inc

(d)

58,923‌

2,499‌

Tenet

Healthcare

Corp

(d)

57,943‌

4,330‌

$

28,780‌

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

146

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Home

Builders

-

0

.99

%

KB

Home

45,631‌

$

2,463‌

Taylor

Morrison

Home

Corp

(d)

62,024‌

3,003‌

Thor

Industries

Inc

30,422‌

3,514‌

Toll

Brothers

Inc

58,538‌

4,702‌

$

13,682‌

Home

Furnishings

-

0

.48

%

Leggett

&

Platt

Inc

75,665‌

2,214‌

Tempur

Sealy

International

Inc

97,809‌

4,365‌

$

6,579‌

Housewares

-

0

.12

%

Scotts

Miracle-Gro

Co/The

23,268‌

1,630‌

Insurance

-

4

.19

%

American

Financial

Group

Inc/OH

39,702‌

4,828‌

Brighthouse

Financial

Inc

(d)

38,005‌

1,981‌

CNO

Financial

Group

Inc

65,115‌

1,675‌

Essent

Group

Ltd

60,969‌

3,024‌

First

American

Financial

Corp

58,670‌

3,718‌

Hanover

Insurance

Group

Inc/The

20,307‌

2,304‌

Kemper

Corp

36,375‌

1,854‌

Kinsale

Capital

Group

Inc

12,373‌

4,611‌

MGIC

Investment

Corp

162,922‌

2,727‌

Old

Republic

International

Corp

154,770‌

4,267‌

Primerica

Inc

20,593‌

4,380‌

Reinsurance

Group

of

America

Inc

37,826‌

5,309‌

RenaissanceRe

Holdings

Ltd

28,554‌

5,333‌

RLI

Corp

23,047‌

3,075‌

Selective

Insurance

Group

Inc

34,386‌

3,548‌

Unum

Group

105,298‌

5,119‌

$

57,753‌

Internet

-

0

.22

%

TripAdvisor

Inc

(d)

60,273‌

1,124‌

Ziff

Davis

Inc

(d)

26,877‌

1,949‌

$

3,073‌

Iron

&

Steel

-

1

.60

%

Cleveland-Cliffs

Inc

(d)

292,784‌

5,168‌

Commercial

Metals

Co

66,572‌

3,809‌

Reliance

Steel

&

Aluminum

Co

33,421‌

9,788‌

United

States

Steel

Corp

128,723‌

3,282‌

$

22,047‌

Leisure

Products

&

Services

-

1

.26

%

Brunswick

Corp/DE

40,195‌

3,469‌

Harley-Davidson

Inc

74,363‌

2,871‌

Planet

Fitness

Inc

(d)

48,291‌

3,262‌

Polaris

Inc

30,407‌

4,131‌

Topgolf

Callaway

Brands

Corp

(d)

79,127‌

1,580‌

YETI

Holdings

Inc

(d)

49,254‌

2,098‌

$

17,411‌

Lodging

-

0

.91

%

Boyd

Gaming

Corp

43,643‌

2,982‌

Choice

Hotels

International

Inc

15,072‌

1,971‌

Hilton

Grand

Vacations

Inc

(d)

43,695‌

2,032‌

Travel

+

Leisure

Co

43,373‌

1,766‌

Wyndham

Hotels

&

Resorts

Inc

48,808‌

3,803‌

$

12,554‌

Machinery

-

Construction

&

Mining

-

0

.67

%

BWX

Technologies

Inc

51,980‌

3,587‌

Oshkosh

Corp

37,126‌

3,418‌

Terex

Corp

38,540‌

2,259‌

$

9,264‌

Machinery

-

Diversified

-

3

.11

%

AGCO

Corp

35,320‌

4,701‌

Chart

Industries

Inc

(d)

23,856‌

4,346‌

Cognex

Corp

98,111‌

5,359‌

Crane

Co

27,409‌

2,568‌

Esab

Corp

29,439‌

2,022‌

Flowserve

Corp

74,550‌

2,815‌

Graco

Inc

95,689‌

7,591‌

Middleby

Corp/The

(d)

30,421‌

4,619‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Machinery

-

Diversified

(continued)

Toro

Co/The

59,279‌

$

6,026‌

Watts

Water

Technologies

Inc

15,580‌

2,906‌

$

42,953‌

Media

-

1

.04

%

Cable

One

Inc

2,680‌

1,940‌

New

York

Times

Co/The

93,139‌

3,796‌

Nexstar

Media

Group

Inc

20,383‌

3,806‌

TEGNA

Inc

127,912‌

2,162‌

World

Wrestling

Entertainment

Inc

24,671‌

2,591‌

$

14,295‌

Metal

Fabrication

&

Hardware

-

0

.89

%

Advanced

Drainage

Systems

Inc

35,554‌

4,337‌

Timken

Co/The

37,448‌

3,478‌

Valmont

Industries

Inc

11,970‌

3,169‌

Worthington

Industries

Inc

17,252‌

1,287‌

$

12,271‌

Mining

-

0

.68

%

Alcoa

Corp

101,408‌

3,670‌

MP

Materials

Corp

(d)

52,502‌

1,252‌

Royal

Gold

Inc

37,333‌

4,485‌

$

9,407‌

Miscellaneous

Manufacturers

-

1

.23

%

Carlisle

Cos

Inc

28,972‌

8,031‌

Donaldson

Co

Inc

68,936‌

4,331‌

ITT

Inc

46,839‌

4,665‌

$

17,027‌

Office

&

Business

Equipment

-

0

.07

%

Xerox

Holdings

Corp

64,238‌

1,027‌

Oil

&

Gas

-

3

.26

%

Antero

Resources

Corp

(d)

156,956‌

4,199‌

Chord

Energy

Corp

23,618‌

3,704‌

CNX

Resources

Corp

(d)

94,118‌

1,920‌

HF

Sinclair

Corp

73,239‌

3,815‌

Matador

Resources

Co

64,360‌

3,580‌

Murphy

Oil

Corp

83,407‌

3,609‌

Ovintiv

Inc

138,992‌

6,406‌

PBF

Energy

Inc

62,359‌

2,958‌

PDC

Energy

Inc

49,712‌

3,773‌

Range

Resources

Corp

137,154‌

4,311‌

Southwestern

Energy

Co

(d)

625,988‌

4,056‌

Valaris

Ltd

(d)

34,188‌

2,626‌

$

44,957‌

Oil

&

Gas

Services

-

0

.62

%

ChampionX

Corp

112,533‌

4,006‌

NOV

Inc

223,803‌

4,494‌

$

8,500‌

Packaging

&

Containers

-

1

.88

%

AptarGroup

Inc

37,244‌

4,524‌

Berry

Global

Group

Inc

67,755‌

4,443‌

Crown

Holdings

Inc

68,267‌

6,332‌

Graphic

Packaging

Holding

Co

174,585‌

4,225‌

Greif

Inc

-

Class

A

14,744‌

1,091‌

Silgan

Holdings

Inc

47,630‌

2,088‌

Sonoco

Products

Co

55,681‌

3,265‌

$

25,968‌

Pharmaceuticals

-

1

.38

%

BellRing

Brands

Inc

(d)

75,488‌

2,714‌

Jazz

Pharmaceuticals

PLC

(d)

36,383‌

4,745‌

Neurocrine

Biosciences

Inc

(d)

55,465‌

5,651‌

Option

Care

Health

Inc

(d)

94,007‌

3,176‌

Perrigo

Co

PLC

76,924‌

2,818‌

$

19,104‌

Pipelines

-

0

.56

%

Antero

Midstream

Corp

190,854‌

2,279‌

DT

Midstream

Inc

55,074‌

2,948‌

Equitrans

Midstream

Corp

246,233‌

2,553‌

$

7,780‌

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

147

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Real

Estate

-

0

.33

%

Jones

Lang

LaSalle

Inc

(d)

27,152‌

$

4,522‌

REITs

-

7

.51

%

Agree

Realty

Corp

52,975‌

3,432‌

Annaly

Capital

Management

Inc

280,733‌

5,640‌

Apartment

Income

REIT

Corp

84,809‌

2,929‌

Brixmor

Property

Group

Inc

170,840‌

3,885‌

Corporate

Office

Properties

Trust

63,955‌

1,663‌

Cousins

Properties

Inc

86,226‌

2,107‌

CubeSmart

127,712‌

5,538‌

EastGroup

Properties

Inc

25,245‌

4,473‌

EPR

Properties

42,790‌

1,910‌

Equity

LifeStyle

Properties

Inc

99,442‌

7,078‌

First

Industrial

Realty

Trust

Inc

75,171‌

3,886‌

Healthcare

Realty

Trust

Inc

216,466‌

4,228‌

Highwoods

Properties

Inc

59,945‌

1,515‌

Independence

Realty

Trust

Inc

127,506‌

2,173‌

Kilroy

Realty

Corp

59,918‌

2,139‌

Kite

Realty

Group

Trust

124,670‌

2,852‌

Lamar

Advertising

Co

49,730‌

4,908‌

Medical

Properties

Trust

Inc

340,089‌

3,432‌

National

Storage

Affiliates

Trust

46,680‌

1,577‌

NNN

REIT

Inc

103,503‌

4,418‌

Omega

Healthcare

Investors

Inc

133,213‌

4,249‌

Park

Hotels

&

Resorts

Inc

122,570‌

1,671‌

Physicians

Realty

Trust

135,511‌

1,997‌

PotlatchDeltic

Corp

45,426‌

2,436‌

Rayonier

Inc

84,253‌

2,790‌

Rexford

Industrial

Realty

Inc

114,226‌

6,293‌

Sabra

Health

Care

REIT

Inc

131,418‌

1,707‌

Spirit

Realty

Capital

Inc

80,318‌

3,239‌

STAG

Industrial

Inc

101,963‌

3,701‌

Starwood

Property

Trust

Inc

177,399‌

3,679‌

Vornado

Realty

Trust

91,619‌

2,060‌

$

103,605‌

Retail

-

5

.18

%

AutoNation

Inc

(d)

17,888‌

2,880‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

76,390‌

5,065‌

Casey's

General

Stores

Inc

21,181‌

5,352‌

Dick's

Sporting

Goods

Inc

34,951‌

4,928‌

FirstCash

Holdings

Inc

20,935‌

1,995‌

Five

Below

Inc

(d)

31,642‌

6,592‌

Foot

Locker

Inc

45,142‌

1,213‌

GameStop

Corp

(d),(e)

143,764‌

3,192‌

Gap

Inc/The

121,269‌

1,249‌

Kohl's

Corp

62,951‌

1,791‌

Lithia

Motors

Inc

15,649‌

4,859‌

Macy's

Inc

154,798‌

2,568‌

MSC

Industrial

Direct

Co

Inc

26,863‌

2,711‌

Murphy

USA

Inc

11,393‌

3,498‌

Nordstrom

Inc

64,231‌

1,484‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

32,721‌

2,385‌

Papa

John's

International

Inc

16,892‌

1,397‌

RH

(d)

10,152‌

3,941‌

Texas

Roadhouse

Inc

38,085‌

4,248‌

Wendy's

Co/The

95,831‌

2,059‌

Williams-Sonoma

Inc

37,325‌

5,175‌

Wingstop

Inc

17,036‌

2,872‌

$

71,454‌

Savings

&

Loans

-

0

.41

%

New

York

Community

Bancorp

Inc

410,475‌

5,693‌

Semiconductors

-

2

.45

%

Allegro

MicroSystems

Inc

(d)

37,058‌

1,913‌

Amkor

Technology

Inc

57,247‌

1,665‌

Cirrus

Logic

Inc

(d)

31,409‌

2,538‌

IPG

Photonics

Corp

(d)

17,747‌

2,333‌

Lattice

Semiconductor

Corp

(d)

78,244‌

7,115‌

MACOM

Technology

Solutions

Holdings

Inc

(d)

29,413‌

2,056‌

MKS

Instruments

Inc

32,639‌

3,563‌

Power

Integrations

Inc

32,600‌

3,167‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

(continued)

Silicon

Laboratories

Inc

(d)

18,189‌

$

2,713‌

Synaptics

Inc

(d)

22,467‌

2,029‌

Wolfspeed

Inc

(d)

70,755‌

4,663‌

$

33,755‌

Software

-

2

.86

%

ACI

Worldwide

Inc

(d)

61,572‌

1,428‌

Aspen

Technology

Inc

(d)

16,593‌

2,962‌

Blackbaud

Inc

(d)

25,717‌

1,940‌

CommVault

Systems

Inc

(d)

24,995‌

1,948‌

Concentrix

Corp

24,265‌

2,020‌

Doximity

Inc

(d)

67,473‌

2,411‌

Dropbox

Inc

-

A

Shares

(d)

154,588‌

4,166‌

Dynatrace

Inc

(d)

123,228‌

6,739‌

Envestnet

Inc

(d)

30,924‌

1,917‌

Manhattan

Associates

Inc

(d)

35,259‌

6,721‌

Teradata

Corp

(d)

57,469‌

3,267‌

ZoomInfo

Technologies

Inc

(d)

153,223‌

3,918‌

$

39,437‌

Telecommunications

-

0

.81

%

Calix

Inc

(d)

32,759‌

1,478‌

Ciena

Corp

(d)

84,786‌

3,578‌

Frontier

Communications

Parent

Inc

(d)

126,914‌

2,311‌

Iridium

Communications

Inc

71,579‌

3,761‌

$

11,128‌

Toys,

Games

&

Hobbies

-

0

.31

%

Mattel

Inc

(d)

201,198‌

4,286‌

Transportation

-

2

.01

%

Kirby

Corp

(d)

34,106‌

2,779‌

Knight-Swift

Transportation

Holdings

Inc

91,534‌

5,561‌

Landstar

System

Inc

20,427‌

4,159‌

Ryder

System

Inc

26,428‌

2,699‌

Saia

Inc

(d)

15,083‌

6,382‌

Werner

Enterprises

Inc

33,503‌

1,575‌

XPO

Inc

(d)

65,856‌

4,560‌

$

27,715‌

Trucking

&

Leasing

-

0

.18

%

GATX

Corp

20,066‌

2,516‌

Water

-

0

.42

%

Essential

Utilities

Inc

136,756‌

5,783‌

TOTAL

COMMON

STOCKS

$

1,348,302‌

Total

Investments

$

1,381,529‌

Other

Assets

and

Liabilities

-  (0.15)%

(

2,001‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,379,528‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,203

or

0.23%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,160

or

0.23%

of

net

assets.

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

148

Portfolio

Summary

Sector

Percent

Industrial

23

.52‌

%

Financial

20

.25‌

%

Consumer,

Non-cyclical

15

.94‌

%

Consumer,

Cyclical

15

.07‌

%

Technology

8

.33‌

%

Basic

Materials

4

.77‌

%

Energy

4

.61‌

%

Utilities

3

.18‌

%

Money

Market

Funds

2

.12‌

%

Communications

2

.07‌

%

Exchange-Traded

Funds

0

.29‌

%

Other

Assets

and

Liabilities

(

0

.15‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

231,699‌

$

205,625‌

$

26,074‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

36,160‌

50,734‌

86,894‌

—‌

$

36,160‌

$

282,433‌

$

292,519‌

$

26,074‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

752‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

110‌

—‌

—‌

—‌

$

862‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

Mid

400

Emini;

September

2023

Long

98‌

$

26,885‌

$

927‌

Total

$

927‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

MidCap

Value

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

149

INVESTMENT

COMPANIES

-

2

.54

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.22

%

iShares

Russell

Mid-Cap

Value

ETF

76,800‌

$

8,807‌

Money

Market

Funds

-

2

.32

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

2,642,071‌

2,643‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

89,546,019‌

89,545‌

$

92,188‌

TOTAL

INVESTMENT

COMPANIES

$

100,995‌

COMMON

STOCKS

-

97

.67

%

Shares

Held

Value

(000's)

Advertising

-

0

.04

%

Interpublic

Group

of

Cos

Inc/The

21,557‌

$

738‌

Omnicom

Group

Inc

11,034‌

934‌

$

1,672‌

Aerospace

&

Defense

-

0

.11

%

Curtiss-Wright

Corp

2,132‌

408‌

HEICO

Corp

247‌

43‌

HEICO

Corp

-

Class

A

440‌

62‌

Hexcel

Corp

4,711‌

333‌

Howmet

Aerospace

Inc

21,209‌

1,085‌

Mercury

Systems

Inc

(d)

2,771‌

105‌

Spirit

AeroSystems

Holdings

Inc

5,239‌

167‌

TransDigm

Group

Inc

2,433‌

2,189‌

$

4,392‌

Agriculture

-

0

.04

%

Bunge

Ltd

8,350‌

907‌

Darling

Ingredients

Inc

(d)

8,859‌

614‌

$

1,521‌

Airlines

-

2

.11

%

Alaska

Air

Group

Inc

(d)

911,590‌

44,330‌

American

Airlines

Group

Inc

(d)

899,829‌

15,072‌

Delta

Air

Lines

Inc

308,890‌

14,290‌

Southwest

Airlines

Co

33,243‌

1,136‌

United

Airlines

Holdings

Inc

(d)

166,805‌

9,059‌

$

83,887‌

Apparel

-

1

.63

%

Capri

Holdings

Ltd

(d)

6,839‌

252‌

Carter's

Inc

2,057‌

154‌

Columbia

Sportswear

Co

1,997‌

157‌

PVH

Corp

3,486‌

313‌

Ralph

Lauren

Corp

270,572‌

35,534‌

Skechers

USA

Inc

(d)

7,134‌

397‌

Tapestry

Inc

632,176‌

27,278‌

Under

Armour

Inc

-

Class

A

(d)

11,439‌

92‌

Under

Armour

Inc

-

Class

C

(d)

10,357‌

77‌

VF

Corp

19,543‌

387‌

$

64,641‌

Automobile

Manufacturers

-

0

.52

%

Cummins

Inc

31,687‌

8,264‌

Lucid

Group

Inc

(d)

41,647‌

317‌

PACCAR

Inc

130,196‌

11,214‌

Rivian

Automotive

Inc

(d)

28,851‌

797‌

$

20,592‌

Automobile

Parts

&

Equipment

-

2

.62

%

Allison

Transmission

Holdings

Inc

337,789‌

19,825‌

Aptiv

PLC

(d)

373,136‌

40,855‌

BorgWarner

Inc

903,841‌

42,028‌

Gentex

Corp

13,100‌

440‌

Lear

Corp

3,283‌

508‌

Phinia

Inc

(d)

2,608‌

74‌

QuantumScape

Corp

(d),(e)

15,746‌

210‌

$

103,940‌

Banks

-

2

.80

%

Bank

of

New

York

Mellon

Corp/The

900,801‌

40,860‌

Bank

OZK

6,159‌

269‌

BOK

Financial

Corp

1,584‌

141‌

Citizens

Financial

Group

Inc

27,002‌

871‌

Columbia

Banking

System

Inc

11,622‌

260‌

Comerica

Inc

7,355‌

397‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

Commerce

Bancshares

Inc/MO

6,387‌

$

340‌

Cullen/Frost

Bankers

Inc

3,309‌

359‌

East

West

Bancorp

Inc

7,851‌

488‌

Fifth

Third

Bancorp

37,962‌

1,105‌

First

Citizens

BancShares

Inc/NC

537‌

769‌

First

Hawaiian

Inc

7,109‌

147‌

First

Horizon

Corp

29,872‌

407‌

FNB

Corp/PA

19,985‌

256‌

Huntington

Bancshares

Inc/OH

1,670,035‌

20,442‌

KeyCorp

52,094‌

641‌

M&T

Bank

Corp

9,251‌

1,294‌

Northern

Trust

Corp

11,457‌

918‌

NU

Holdings

Ltd/Cayman

Islands

(d)

40,634‌

323‌

Pinnacle

Financial

Partners

Inc

4,205‌

319‌

Popular

Inc

3,933‌

285‌

Prosperity

Bancshares

Inc

568,869‌

36,021‌

Regions

Financial

Corp

52,269‌

1,065‌

State

Street

Corp

18,667‌

1,352‌

Synovus

Financial

Corp

8,083‌

274‌

Webster

Financial

Corp

9,704‌

459‌

Western

Alliance

Bancorp

6,041‌

314‌

Wintrust

Financial

Corp

3,400‌

287‌

Zions

Bancorp

NA

8,133‌

311‌

$

110,974‌

Beverages

-

0

.02

%

Boston

Beer

Co

Inc/The

(d)

36‌

13‌

Brown-Forman

Corp

-

A

Shares

(e)

564‌

41‌

Brown-Forman

Corp

-

B

Shares

2,118‌

149‌

Molson

Coors

Beverage

Co

9,773‌

682‌

$

885‌

Biotechnology

-

0

.53

%

Alnylam

Pharmaceuticals

Inc

(d)

1,362‌

266‌

Biogen

Inc

(d)

8,059‌

2,177‌

BioMarin

Pharmaceutical

Inc

(d)

9,230‌

812‌

Bio-Rad

Laboratories

Inc

(d)

1,175‌

476‌

Certara

Inc

(d)

4,257‌

83‌

Corteva

Inc

39,904‌

2,252‌

Exelixis

Inc

(d)

203,976‌

4,021‌

Horizon

Therapeutics

Plc

(d)

1,451‌

145‌

Illumina

Inc

(d)

6,206‌

1,192‌

Incyte

Corp

(d)

61,866‌

3,942‌

Ionis

Pharmaceuticals

Inc

(d)

1,104‌

46‌

Karuna

Therapeutics

Inc

(d)

209‌

42‌

Maravai

LifeSciences

Holdings

Inc

(d)

2,584‌

29‌

Mirati

Therapeutics

Inc

(d)

2,726‌

83‌

Roivant

Sciences

Ltd

(d)

767‌

9‌

Royalty

Pharma

PLC

153,751‌

4,825‌

United

Therapeutics

Corp

(d)

2,523‌

612‌

$

21,012‌

Building

Materials

-

2

.13

%

Armstrong

World

Industries

Inc

1,769‌

137‌

AZEK

Co

Inc/The

(d)

6,852‌

214‌

Builders

FirstSource

Inc

(d)

7,120‌

1,028‌

Carrier

Global

Corp

526,004‌

31,323‌

Eagle

Materials

Inc

94,236‌

17,374‌

Fortune

Brands

Innovations

Inc

7,065‌

502‌

Hayward

Holdings

Inc

(d)

6,172‌

82‌

Lennox

International

Inc

1,787‌

657‌

Louisiana-Pacific

Corp

3,592‌

274‌

Martin

Marietta

Materials

Inc

3,462‌

1,546‌

Masco

Corp

12,573‌

763‌

MDU

Resources

Group

Inc

11,294‌

250‌

Mohawk

Industries

Inc

(d)

2,956‌

314‌

Owens

Corning

192,020‌

26,881‌

Trane

Technologies

PLC

8,978‌

1,791‌

Vulcan

Materials

Co

5,778‌

1,274‌

$

84,410‌

Schedule

of

Investments

MidCap

Value

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

150

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Chemicals

-

2

.44

%

Albemarle

Corp

6,545‌

$

1,389‌

Ashland

Inc

2,808‌

257‌

Axalta

Coating

Systems

Ltd

(d)

11,043‌

353‌

Celanese

Corp

5,525‌

693‌

CF

Industries

Holdings

Inc

10,930‌

897‌

Chemours

Co/The

8,308‌

307‌

DuPont

de

Nemours

Inc

25,682‌

1,994‌

Eastman

Chemical

Co

6,629‌

567‌

Element

Solutions

Inc

12,477‌

262‌

FMC

Corp

5,939‌

572‌

Huntsman

Corp

9,761‌

291‌

International

Flavors

&

Fragrances

Inc

14,281‌

1,208‌

LyondellBasell

Industries

NV

14,469‌

1,430‌

Mosaic

Co/The

18,503‌

754‌

NewMarket

Corp

348‌

157‌

Olin

Corp

7,218‌

416‌

PPG

Industries

Inc

9,832‌

1,415‌

RPM

International

Inc

373,753‌

38,612‌

Valvoline

Inc

7,078‌

269‌

Westlake

Corp

325,809‌

44,799‌

$

96,642‌

Commercial

Services

-

4

.00

%

ADT

Inc

12,685‌

81‌

Affirm

Holdings

Inc

(d)

12,161‌

236‌

Aramark

13,092‌

528‌

Avis

Budget

Group

Inc

(d)

750‌

165‌

Block

Inc

(d)

19,043‌

1,534‌

Bright

Horizons

Family

Solutions

Inc

(d)

2,810‌

273‌

Cintas

Corp

531‌

267‌

Clarivate

PLC

(d)

487,588‌

4,637‌

CoStar

Group

Inc

(d)

12,889‌

1,082‌

Driven

Brands

Holdings

Inc

(d)

3,578‌

93‌

Dun

&

Bradstreet

Holdings

Inc

15,353‌

181‌

Equifax

Inc

2,099‌

428‌

Euronet

Worldwide

Inc

(d)

1,322‌

116‌

FleetCor

Technologies

Inc

(d)

280‌

70‌

FTI

Consulting

Inc

(d)

175,514‌

30,743‌

Global

Payments

Inc

364,533‌

40,189‌

Grand

Canyon

Education

Inc

(d)

135,378‌

14,695‌

GXO

Logistics

Inc

(d)

6,539‌

439‌

H&R

Block

Inc

367,809‌

12,362‌

Hertz

Global

Holdings

Inc

(d)

7,516‌

127‌

ManpowerGroup

Inc

307,816‌

24,280‌

Mister

Car

Wash

Inc

(d)

4,182‌

42‌

Quanta

Services

Inc

5,923‌

1,194‌

R1

RCM

Inc

(d)

8,544‌

148‌

RB

Global

Inc

2,384‌

154‌

Robert

Half

Inc

5,877‌

436‌

Service

Corp

International/US

5,291‌

353‌

TransUnion

270,996‌

21,595‌

U-Haul

Holding

Co

309‌

19‌

U-Haul

Holding

Co

2,781‌

159‌

United

Rentals

Inc

3,048‌

1,416‌

WEX

Inc

(d)

1,293‌

245‌

WillScot

Mobile

Mini

Holdings

Corp

(d)

8,223‌

394‌

$

158,681‌

Computers

-

5

.01

%

Amdocs

Ltd

56,107‌

5,254‌

CACI

International

Inc

(d)

1,261‌

442‌

Cognizant

Technology

Solutions

Corp

28,413‌

1,876‌

Crane

NXT

Co

2,689‌

159‌

DXC

Technology

Co

(d)

12,698‌

351‌

Genpact

Ltd

946,524‌

34,160‌

Hewlett

Packard

Enterprise

Co

1,652,337‌

28,717‌

HP

Inc

38,467‌

1,263‌

KBR

Inc

4,807‌

296‌

Kyndryl

Holdings

Inc

(d)

11,462‌

157‌

Leidos

Holdings

Inc

457,632‌

42,802‌

Lumentum

Holdings

Inc

(d)

3,819‌

200‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Computers

(continued)

Maximus

Inc

432,000‌

$

36,184‌

NCR

Corp

(d)

7,433‌

200‌

NetApp

Inc

7,198‌

562‌

Pure

Storage

Inc

(d)

3,426‌

127‌

Science

Applications

International

Corp

3,004‌

364‌

Western

Digital

Corp

(d)

1,067,865‌

45,448‌

$

198,562‌

Consumer

Products

-

1

.42

%

Avery

Dennison

Corp

237,028‌

43,616‌

Church

&

Dwight

Co

Inc

131,148‌

12,547‌

Reynolds

Consumer

Products

Inc

3,297‌

91‌

Spectrum

Brands

Holdings

Inc

2,244‌

176‌

$

56,430‌

Cosmetics

&

Personal

Care

-

0

.01

%

Coty

Inc

(d)

20,140‌

243‌

Olaplex

Holdings

Inc

(d)

7,281‌

26‌

$

269‌

Distribution

&

Wholesale

-

0

.66

%

Core

&

Main

Inc

(d)

296,942‌

9,387‌

Fastenal

Co

8,014‌

470‌

Ferguson

PLC

10,916‌

1,764‌

LKQ

Corp

14,896‌

816‌

SiteOne

Landscape

Supply

Inc

(d)

1,682‌

286‌

Univar

Solutions

Inc

(d)

8,672‌

313‌

Watsco

Inc

33,488‌

12,665‌

WESCO

International

Inc

2,472‌

434‌

$

26,135‌

Diversified

Financial

Services

-

1

.85

%

Affiliated

Managers

Group

Inc

1,993‌

276‌

Air

Lease

Corp

5,783‌

245‌

Ally

Financial

Inc

15,127‌

462‌

Blue

Owl

Capital

Inc

21,256‌

262‌

Cboe

Global

Markets

Inc

36,561‌

5,107‌

Coinbase

Global

Inc

(d),(e)

9,319‌

919‌

Credit

Acceptance

Corp

(d)

363‌

202‌

Discover

Financial

Services

14,177‌

1,496‌

Evercore

Inc

-

Class

A

1,990‌

269‌

Franklin

Resources

Inc

15,913‌

465‌

Houlihan

Lokey

Inc

2,571‌

257‌

Interactive

Brokers

Group

Inc

-

A

Shares

71,824‌

6,272‌

Invesco

Ltd

20,737‌

348‌

Janus

Henderson

Group

PLC

7,483‌

220‌

Jefferies

Financial

Group

Inc

11,233‌

413‌

Lazard

Ltd

6,116‌

215‌

Nasdaq

Inc

19,101‌

964‌

OneMain

Holdings

Inc

6,270‌

285‌

Raymond

James

Financial

Inc

10,938‌

1,204‌

Rocket

Cos

Inc

(d)

4,489‌

49‌

SEI

Investments

Co

5,687‌

358‌

SLM

Corp

8,168‌

132‌

SoFi

Technologies

Inc

(d)

51,280‌

587‌

Stifel

Financial

Corp

5,738‌

365‌

Synchrony

Financial

23,859‌

824‌

T

Rowe

Price

Group

Inc

317,337‌

39,115‌

TPG

Inc

2,544‌

75‌

Tradeweb

Markets

Inc

82,126‌

6,717‌

UWM

Holdings

Corp

3,328‌

22‌

Virtu

Financial

Inc

4,994‌

93‌

Voya

Financial

Inc

5,477‌

407‌

Western

Union

Co/The

344,270‌

4,193‌

XP

Inc

(d)

17,027‌

460‌

$

73,278‌

Electric

-

3

.07

%

AES

Corp/The

14,529‌

314‌

Alliant

Energy

Corp

837,050‌

44,983‌

Ameren

Corp

14,647‌

1,255‌

Avangrid

Inc

3,971‌

147‌

Brookfield

Renewable

Corp

7,140‌

223‌

CenterPoint

Energy

Inc

35,296‌

1,062‌

Schedule

of

Investments

MidCap

Value

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

151

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electric

(continued)

Clearway

Energy

Inc

-

Class

A

1,935‌

$

48‌

Clearway

Energy

Inc

-

Class

C

4,576‌

121‌

CMS

Energy

Corp

16,266‌

993‌

Consolidated

Edison

Inc

19,409‌

1,841‌

Constellation

Energy

Corp

18,327‌

1,771‌

DTE

Energy

Co

11,523‌

1,317‌

Edison

International

21,142‌

1,521‌

Entergy

Corp

11,839‌

1,216‌

Evergy

Inc

12,452‌

747‌

Eversource

Energy

19,497‌

1,410‌

FirstEnergy

Corp

30,459‌

1,200‌

Hawaiian

Electric

Industries

Inc

6,126‌

235‌

IDACORP

Inc

2,822‌

290‌

NRG

Energy

Inc

12,962‌

492‌

OGE

Energy

Corp

11,176‌

404‌

PG&E

Corp

(d)

100,768‌

1,775‌

Pinnacle

West

Capital

Corp

6,330‌

524‌

PPL

Corp

306,767‌

8,446‌

Public

Service

Enterprise

Group

Inc

27,817‌

1,756‌

Vistra

Corp

14,878‌

418‌

WEC

Energy

Group

Inc

17,651‌

1,586‌

Xcel

Energy

Inc

728,921‌

45,725‌

$

121,820‌

Electrical

Components

&

Equipment

-

0

.09

%

Acuity

Brands

Inc

1,780‌

294‌

AMETEK

Inc

12,865‌

2,040‌

Generac

Holdings

Inc

(d)

3,398‌

522‌

Littelfuse

Inc

1,352‌

412‌

Universal

Display

Corp

1,429‌

209‌

$

3,477‌

Electronics

-

4

.79

%

Agilent

Technologies

Inc

142,487‌

17,351‌

Allegion

plc

368‌

43‌

Amphenol

Corp

491,209‌

43,378‌

Arrow

Electronics

Inc

(d)

3,203‌

457‌

Avnet

Inc

363,428‌

17,626‌

Coherent

Corp

(d)

6,660‌

316‌

Flex

Ltd

(d)

1,680,800‌

45,987‌

Fortive

Corp

19,780‌

1,550‌

Garmin

Ltd

8,593‌

910‌

Hubbell

Inc

97,568‌

30,441‌

Jabil

Inc

2,687‌

297‌

Keysight

Technologies

Inc

(d)

7,382‌

1,189‌

National

Instruments

Corp

1,597‌

94‌

nVent

Electric

PLC

375,547‌

19,859‌

Sensata

Technologies

Holding

PLC

8,432‌

356‌

TD

SYNNEX

Corp

2,323‌

229‌

Trimble

Inc

(d)

13,778‌

741‌

Vontier

Corp

147,146‌

4,551‌

Woodward

Inc

37,519‌

4,517‌

$

189,892‌

Energy

-

Alternate

Sources

-

0

.05

%

First

Solar

Inc

(d)

5,952‌

1,234‌

Plug

Power

Inc

(d),(e)

29,040‌

381‌

Sunrun

Inc

(d)

11,796‌

224‌

$

1,839‌

Engineering

&

Construction

-

0

.18

%

AECOM

7,319‌

637‌

EMCOR

Group

Inc

22,442‌

4,826‌

Jacobs

Solutions

Inc

7,036‌

882‌

MasTec

Inc

(d)

3,475‌

409‌

TopBuild

Corp

(d)

1,654‌

453‌

$

7,207‌

Entertainment

-

1

.09

%

AMC

Entertainment

Holdings

Inc

(e)

29,006‌

144‌

Atlanta

Braves

Holdings

Inc

(d)

2,971‌

121‌

Caesars

Entertainment

Inc

(d)

6,794‌

401‌

Live

Nation

Entertainment

Inc

(d)

371,558‌

32,604‌

Madison

Square

Garden

Sports

Corp

25,524‌

5,431‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Entertainment

(continued)

Marriott

Vacations

Worldwide

Corp

2,042‌

$

263‌

Penn

Entertainment

Inc

(d)

8,568‌

225‌

Vail

Resorts

Inc

17,790‌

4,189‌

$

43,378‌

Environmental

Control

-

1

.10

%

Clean

Harbors

Inc

(d)

2,869‌

477‌

Pentair

PLC

9,173‌

638‌

Republic

Services

Inc

277,091‌

41,871‌

Stericycle

Inc

(d)

5,147‌

219‌

Tetra

Tech

Inc

2,424‌

410‌

$

43,615‌

Food

-

2

.84

%

Albertsons

Cos

Inc

21,284‌

463‌

Campbell

Soup

Co

10,695‌

490‌

Conagra

Brands

Inc

130,254‌

4,274‌

Flowers

Foods

Inc

10,504‌

260‌

Grocery

Outlet

Holding

Corp

(d)

5,303‌

177‌

Hershey

Co/The

29,013‌

6,711‌

Hormel

Foods

Corp

16,185‌

662‌

Ingredion

Inc

42,621‌

4,742‌

J

M

Smucker

Co/The

5,765‌

869‌

Kellogg

Co

14,529‌

972‌

Kroger

Co/The

270,626‌

13,163‌

Lamb

Weston

Holdings

Inc

453‌

47‌

McCormick

&

Co

Inc/MD

14,053‌

1,257‌

Performance

Food

Group

Co

(d)

4,540‌

271‌

Pilgrim's

Pride

Corp

(d)

2,293‌

57‌

Post

Holdings

Inc

(d)

43,190‌

3,684‌

Seaboard

Corp

1,331‌

4,798‌

Sysco

Corp

520,000‌

39,681‌

Tyson

Foods

Inc

526,438‌

29,333‌

US

Foods

Holding

Corp

(d)

12,668‌

541‌

$

112,452‌

Forest

Products

&

Paper

-

0

.15

%

International

Paper

Co

19,365‌

698‌

Sylvamo

Corp

105,733‌

5,189‌

$

5,887‌

Gas

-

0

.06

%

Atmos

Energy

Corp

8,061‌

981‌

National

Fuel

Gas

Co

4,916‌

261‌

NiSource

Inc

23,117‌

644‌

UGI

Corp

11,679‌

315‌

$

2,201‌

Hand

&

Machine

Tools

-

0

.73

%

Lincoln

Electric

Holdings

Inc

110,201‌

22,118‌

MSA

Safety

Inc

1,710‌

284‌

Regal

Rexnord

Corp

3,698‌

577‌

Snap-on

Inc

18,495‌

5,039‌

Stanley

Black

&

Decker

Inc

8,561‌

850‌

$

28,868‌

Healthcare

-

Products

-

3

.98

%

Align

Technology

Inc

(d)

10,505‌

3,970‌

Avantor

Inc

(d)

37,727‌

776‌

Azenta

Inc

(d)

3,808‌

179‌

Baxter

International

Inc

28,271‌

1,279‌

Bio-Techne

Corp

494‌

41‌

Cooper

Cos

Inc/The

98,817‌

38,663‌

DENTSPLY

SIRONA

Inc

203,569‌

8,452‌

Enovis

Corp

(d)

2,931‌

187‌

Envista

Holdings

Corp

(d)

9,152‌

315‌

Exact

Sciences

Corp

(d)

6,519‌

636‌

Globus

Medical

Inc

(d)

272,627‌

16,431‌

Hologic

Inc

(d)

513,595‌

40,790‌

ICU

Medical

Inc

(d)

1,128‌

201‌

Integra

LifeSciences

Holdings

Corp

(d)

3,993‌

182‌

QIAGEN

NV

(d)

12,713‌

595‌

QuidelOrtho

Corp

(d)

2,979‌

260‌

Repligen

Corp

(d)

1,730‌

297‌

Schedule

of

Investments

MidCap

Value

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

152

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Products

(continued)

Revvity

Inc

7,061‌

$

868‌

STERIS

PLC

5,547‌

1,251‌

Tandem

Diabetes

Care

Inc

(d)

3,114‌

109‌

Teleflex

Inc

2,627‌

660‌

Zimmer

Biomet

Holdings

Inc

301,745‌

41,686‌

$

157,828‌

Healthcare

-

Services

-

1

.95

%

Acadia

Healthcare

Co

Inc

(d)

5,014‌

396‌

agilon

health

Inc

(d)

1,666‌

32‌

Amedisys

Inc

(d)

1,791‌

163‌

Catalent

Inc

(d)

10,052‌

488‌

Charles

River

Laboratories

International

Inc

(d)

2,836‌

594‌

Chemed

Corp

233‌

121‌

Encompass

Health

Corp

5,144‌

340‌

Fortrea

Holdings

Inc

(d)

4,948‌

158‌

Ginkgo

Bioworks

Holdings

Inc

(d),(e)

78,009‌

196‌

ICON

PLC

(d)

3,876‌

974‌

IQVIA

Holdings

Inc

(d)

751‌

168‌

Laboratory

Corp

of

America

Holdings

4,948‌

1,059‌

Molina

Healthcare

Inc

(d)

91,497‌

27,859‌

Quest

Diagnostics

Inc

320,763‌

43,371‌

Sotera

Health

Co

(d)

1,638‌

31‌

Syneos

Health

Inc

(d)

5,764‌

244‌

Teladoc

Health

Inc

(d)

8,864‌

264‌

Tenet

Healthcare

Corp

(d)

5,643‌

422‌

Universal

Health

Services

Inc

3,387‌

471‌

$

77,351‌

Home

Builders

-

1

.12

%

DR

Horton

Inc

17,403‌

2,211‌

Lennar

Corp

-

A

Shares

13,911‌

1,764‌

Lennar

Corp

-

B

Shares

768‌

88‌

NVR

Inc

(d)

150‌

946‌

PulteGroup

Inc

247,586‌

20,894‌

Thor

Industries

Inc

2,864‌

331‌

Toll

Brothers

Inc

226,615‌

18,204‌

$

44,438‌

Home

Furnishings

-

0

.03

%

Dolby

Laboratories

Inc

3,308‌

293‌

Leggett

&

Platt

Inc

7,405‌

217‌

Tempur

Sealy

International

Inc

7,434‌

332‌

Whirlpool

Corp

2,991‌

431‌

$

1,273‌

Housewares

-

0

.01

%

Newell

Brands

Inc

21,264‌

237‌

Insurance

-

8

.63

%

Aflac

Inc

33,669‌

2,436‌

Allstate

Corp/The

14,672‌

1,653‌

American

Financial

Group

Inc/OH

359,105‌

43,671‌

Arch

Capital

Group

Ltd

(d)

282,578‌

21,954‌

Arthur

J

Gallagher

&

Co

11,181‌

2,402‌

Assurant

Inc

40,766‌

5,484‌

Assured

Guaranty

Ltd

3,176‌

190‌

Axis

Capital

Holdings

Ltd

108,054‌

5,956‌

Brighthouse

Financial

Inc

(d)

3,345‌

174‌

Brown

&

Brown

Inc

8,088‌

570‌

Cincinnati

Financial

Corp

8,586‌

924‌

CNA

Financial

Corp

1,455‌

57‌

Corebridge

Financial

Inc

8,246‌

154‌

Everest

Group

Ltd

170,046‌

61,303‌

Fidelity

National

Financial

Inc

14,505‌

568‌

First

American

Financial

Corp

69,507‌

4,405‌

Globe

Life

Inc

4,961‌

556‌

Hanover

Insurance

Group

Inc/The

1,984‌

225‌

Hartford

Financial

Services

Group

Inc/The

462,032‌

33,211‌

Kemper

Corp

3,365‌

172‌

Lincoln

National

Corp

8,566‌

240‌

Loews

Corp

10,585‌

663‌

Markel

Group

Inc

(d)

4,898‌

7,101‌

MGIC

Investment

Corp

931,180‌

15,588‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Old

Republic

International

Corp

1,570,198‌

$

43,290‌

Primerica

Inc

18,470‌

3,928‌

Progressive

Corp/The

262,000‌

33,007‌

Prudential

Financial

Inc

20,532‌

1,981‌

Reinsurance

Group

of

America

Inc

29,869‌

4,192‌

RenaissanceRe

Holdings

Ltd

20,682‌

3,863‌

RLI

Corp

1,750‌

233‌

Unum

Group

10,986‌

534‌

W

R

Berkley

Corp

653,769‌

40,331‌

White

Mountains

Insurance

Group

Ltd

137‌

212‌

Willis

Towers

Watson

PLC

5,215‌

1,102‌

$

342,330‌

Internet

-

0

.28

%

CDW

Corp/DE

436‌

81‌

DoorDash

Inc

-

Class

A

(d)

3,659‌

332‌

eBay

Inc

28,039‌

1,248‌

Etsy

Inc

(d)

3,010‌

306‌

Expedia

Group

Inc

(d)

2,150‌

263‌

F5

Inc

(d)

3,370‌

533‌

Gen

Digital

Inc

26,141‌

508‌

GoDaddy

Inc

(d)

3,397‌

262‌

IAC

Inc

(d)

4,297‌

299‌

Match

Group

Inc

(d)

1,541‌

72‌

Okta

Inc

(d)

54,380‌

4,180‌

Robinhood

Markets

Inc

(d)

37,112‌

477‌

Roku

Inc

(d)

6,034‌

581‌

TripAdvisor

Inc

(d)

6,206‌

116‌

VeriSign

Inc

(d)

4,793‌

1,011‌

Wayfair

Inc

(d)

2,987‌

233‌

Zillow

Group

Inc

-

A

Shares

(d)

3,230‌

172‌

Zillow

Group

Inc

-

C

Shares

(d)

8,636‌

468‌

$

11,142‌

Iron

&

Steel

-

0

.65

%

Cleveland-Cliffs

Inc

(d)

28,411‌

502‌

Nucor

Corp

14,081‌

2,423‌

Reliance

Steel

&

Aluminum

Co

74,269‌

21,750‌

Steel

Dynamics

Inc

8,983‌

957‌

United

States

Steel

Corp

12,574‌

321‌

$

25,953‌

Leisure

Products

&

Services

-

0

.46

%

Brunswick

Corp/DE

3,646‌

315‌

Carnival

Corp

(d)

55,581‌

1,047‌

Harley-Davidson

Inc

112,430‌

4,341‌

Norwegian

Cruise

Line

Holdings

Ltd

(d)

17,937‌

396‌

Planet

Fitness

Inc

(d)

2,490‌

168‌

Polaris

Inc

2,746‌

373‌

Royal

Caribbean

Cruises

Ltd

(d)

106,476‌

11,617‌

$

18,257‌

Lodging

-

1

.24

%

Boyd

Gaming

Corp

56,869‌

3,886‌

Hilton

Worldwide

Holdings

Inc

253,757‌

39,457‌

Hyatt

Hotels

Corp

2,599‌

328‌

Las

Vegas

Sands

Corp

60,422‌

3,614‌

MGM

Resorts

International

16,770‌

851‌

Travel

+

Leisure

Co

2,267‌

92‌

Wyndham

Hotels

&

Resorts

Inc

4,364‌

340‌

Wynn

Resorts

Ltd

5,453‌

594‌

$

49,162‌

Machinery

-

Construction

&

Mining

-

0

.59

%

BWX

Technologies

Inc

4,229‌

292‌

Oshkosh

Corp

247,444‌

22,782‌

Vertiv

Holdings

Co

16,750‌

436‌

$

23,510‌

Machinery

-

Diversified

-

4

.46

%

AGCO

Corp

244,796‌

32,582‌

CNH

Industrial

NV

54,649‌

785‌

Cognex

Corp

9,655‌

528‌

Crane

Co

2,682‌

251‌

Schedule

of

Investments

MidCap

Value

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

153

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Machinery

-

Diversified

(continued)

Dover

Corp

7,801‌

$

1,139‌

Esab

Corp

115,669‌

7,947‌

Flowserve

Corp

7,312‌

276‌

Gates

Industrial

Corp

PLC

(d)

6,620‌

90‌

Graco

Inc

5,519‌

438‌

IDEX

Corp

3,884‌

877‌

Ingersoll

Rand

Inc

22,636‌

1,478‌

Middleby

Corp/The

(d)

288,974‌

43,881‌

Nordson

Corp

3,196‌

804‌

Otis

Worldwide

Corp

200,369‌

18,225‌

Toro

Co/The

323,000‌

32,833‌

Westinghouse

Air

Brake

Technologies

Corp

9,972‌

1,181‌

Xylem

Inc/NY

296,867‌

33,471‌

$

176,786‌

Media

-

0

.34

%

Cable

One

Inc

290‌

210‌

DISH

Network

Corp

(d)

13,838‌

110‌

Fox

Corp

-

A

Shares

16,358‌

547‌

Fox

Corp

-

B

Shares

7,509‌

236‌

GCI

Liberty

Inc

-

Escrow

(d),(f)

4,527‌

—‌

Liberty

Broadband

Corp

-

A

Shares

(d)

729‌

65‌

Liberty

Broadband

Corp

-

C

Shares

(d)

5,161‌

460‌

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d)

55,144‌

3,544‌

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d)

59,661‌

4,331‌

Liberty

Media

Corp-Liberty

SiriusXM

-

A

Shares

(d)

4,149‌

131‌

Liberty

Media

Corp-Liberty

SiriusXM

-

C

Shares

(d)

8,583‌

273‌

New

York

Times

Co/The

9,028‌

368‌

News

Corp

-

A

Shares

21,286‌

422‌

News

Corp

-

B

Shares

6,509‌

131‌

Nexstar

Media

Group

Inc

1,257‌

235‌

Paramount

Global

-

Class

A

(e)

668‌

13‌

Paramount

Global

-

Class

B

(e)

32,251‌

517‌

Sirius

XM

Holdings

Inc

(e)

36,014‌

184‌

Warner

Bros

Discovery

Inc

(d)

123,236‌

1,611‌

$

13,388‌

Metal

Fabrication

&

Hardware

-

0

.02

%

RBC

Bearings

Inc

(d)

1,578‌

357‌

Timken

Co/The

3,493‌

324‌

Valmont

Industries

Inc

1,101‌

292‌

$

973‌

Mining

-

1

.18

%

Alcoa

Corp

9,938‌

360‌

Franco-Nevada

Corp

283,700‌

41,375‌

MP

Materials

Corp

(d)

5,812‌

138‌

Royal

Gold

Inc

3,665‌

440‌

SSR

Mining

Inc

313,086‌

4,559‌

$

46,872‌

Miscellaneous

Manufacturers

-

2

.26

%

A

O

Smith

Corp

135,175‌

9,818‌

Carlisle

Cos

Inc

2,830‌

784‌

Donaldson

Co

Inc

3,960‌

249‌

ITT

Inc

4,619‌

460‌

Parker-Hannifin

Corp

57,747‌

23,676‌

Teledyne

Technologies

Inc

(d)

2,605‌

1,002‌

Textron

Inc

689,760‌

53,643‌

$

89,632‌

Office

&

Business

Equipment

-

0

.02

%

Zebra

Technologies

Corp

(d)

2,345‌

722‌

Oil

&

Gas

-

2

.88

%

Antero

Resources

Corp

(d)

15,807‌

423‌

APA

Corp

1,978‌

80‌

Chesapeake

Energy

Corp

7,093‌

598‌

Coterra

Energy

Inc

1,673,642‌

46,092‌

Devon

Energy

Corp

777,449‌

41,982‌

Diamondback

Energy

Inc

10,130‌

1,492‌

EQT

Corp

20,158‌

850‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Oil

&

Gas

(continued)

Hess

Corp

71,869‌

$

10,905‌

HF

Sinclair

Corp

7,893‌

411‌

Marathon

Oil

Corp

34,756‌

913‌

Ovintiv

Inc

7,552‌

348‌

PDC

Energy

Inc

4,844‌

368‌

Phillips

66

80,656‌

8,998‌

Range

Resources

Corp

13,085‌

411‌

Southwestern

Energy

Co

(d)

62,436‌

405‌

$

114,276‌

Oil

&

Gas

Services

-

0

.33

%

Baker

Hughes

Co

293,762‌

10,514‌

Halliburton

Co

40,149‌

1,569‌

NOV

Inc

21,930‌

440‌

TechnipFMC

PLC

24,539‌

450‌

$

12,973‌

Packaging

&

Containers

-

3

.07

%

Amcor

PLC

82,751‌

849‌

AptarGroup

Inc

246,657‌

29,959‌

Ardagh

Group

SA

(d),(f)

901‌

—‌

Ardagh

Metal

Packaging

SA

561‌

2‌

Ball

Corp

17,227‌

1,011‌

Berry

Global

Group

Inc

6,787‌

445‌

Crown

Holdings

Inc

457,929‌

42,478‌

Graphic

Packaging

Holding

Co

7,913‌

191‌

Packaging

Corp

of

America

296,948‌

45,537‌

Sealed

Air

Corp

3,591‌

164‌

Silgan

Holdings

Inc

4,670‌

205‌

Sonoco

Products

Co

5,465‌

320‌

Westrock

Co

14,203‌

473‌

$

121,634‌

Pharmaceuticals

-

0

.08

%

Cardinal

Health

Inc

7,041‌

644‌

Elanco

Animal

Health

Inc

(d)

27,189‌

328‌

Henry

Schein

Inc

(d)

7,287‌

574‌

Jazz

Pharmaceuticals

PLC

(d)

1,645‌

215‌

Organon

&

Co

14,281‌

314‌

Perrigo

Co

PLC

7,541‌

276‌

Premier

Inc

6,628‌

184‌

Viatris

Inc

66,894‌

704‌

$

3,239‌

Pipelines

-

0

.11

%

Antero

Midstream

Corp

12,622‌

151‌

DT

Midstream

Inc

5,424‌

290‌

ONEOK

Inc

23,623‌

1,584‌

Williams

Cos

Inc/The

68,127‌

2,347‌

$

4,372‌

Private

Equity

-

0

.05

%

Carlyle

Group

Inc/The

11,793‌

420‌

KKR

&

Co

Inc

27,240‌

1,618‌

$

2,038‌

Real

Estate

-

0

.05

%

CBRE

Group

Inc

(d)

17,324‌

1,443‌

Howard

Hughes

Corp/The

(d)

1,881‌

159‌

Jones

Lang

LaSalle

Inc

(d)

2,649‌

441‌

$

2,043‌

REITs

-

7

.74

%

AGNC

Investment

Corp

32,057‌

327‌

Agree

Realty

Corp

4,973‌

322‌

Alexandria

Real

Estate

Equities

Inc

375,892‌

47,242‌

American

Homes

4

Rent

490,785‌

18,395‌

Americold

Realty

Trust

Inc

15,097‌

489‌

Annaly

Capital

Management

Inc

27,602‌

555‌

Apartment

Income

REIT

Corp

8,400‌

290‌

AvalonBay

Communities

Inc

7,816‌

1,474‌

Boston

Properties

Inc

8,769‌

584‌

Brixmor

Property

Group

Inc

16,734‌

381‌

Camden

Property

Trust

363,100‌

39,611‌

Cousins

Properties

Inc

8,458‌

207‌

Schedule

of

Investments

MidCap

Value

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

154

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

CubeSmart

12,505‌

$

542‌

Digital

Realty

Trust

Inc

16,259‌

2,026‌

EastGroup

Properties

Inc

2,452‌

434‌

EPR

Properties

106,084‌

4,735‌

Equity

LifeStyle

Properties

Inc

556,683‌

39,625‌

Equity

Residential

20,862‌

1,376‌

Essex

Property

Trust

Inc

3,570‌

869‌

Extra

Space

Storage

Inc

36,487‌

5,092‌

Federal

Realty

Investment

Trust

4,520‌

459‌

First

Industrial

Realty

Trust

Inc

7,378‌

381‌

Gaming

and

Leisure

Properties

Inc

14,070‌

668‌

Healthcare

Realty

Trust

Inc

216,072‌

4,220‌

Healthpeak

Properties

Inc

30,595‌

668‌

Highwoods

Properties

Inc

5,816‌

147‌

Host

Hotels

&

Resorts

Inc

964,700‌

17,750‌

Invitation

Homes

Inc

34,182‌

1,213‌

Iron

Mountain

Inc

8,176‌

502‌

Kilroy

Realty

Corp

6,520‌

233‌

Kimco

Realty

Corp

33,834‌

685‌

Lamar

Advertising

Co

449,111‌

44,328‌

Medical

Properties

Trust

Inc

33,181‌

335‌

Mid-America

Apartment

Communities

Inc

6,493‌

972‌

National

Storage

Affiliates

Trust

4,462‌

151‌

NNN

REIT

Inc

1,086,542‌

46,374‌

Omega

Healthcare

Investors

Inc

13,093‌

418‌

Park

Hotels

&

Resorts

Inc

12,279‌

167‌

Rayonier

Inc

8,205‌

272‌

Realty

Income

Corp

36,976‌

2,254‌

Regency

Centers

Corp

9,519‌

624‌

Rexford

Industrial

Realty

Inc

11,200‌

617‌

Rithm

Capital

Corp

26,435‌

266‌

SBA

Communications

Corp

5,398‌

1,182‌

Simon

Property

Group

Inc

14,191‌

1,768‌

Spirit

Realty

Capital

Inc

7,876‌

318‌

STAG

Industrial

Inc

10,036‌

364‌

Starwood

Property

Trust

Inc

16,472‌

342‌

Sun

Communities

Inc

5,374‌

700‌

UDR

Inc

17,319‌

708‌

Ventas

Inc

140,996‌

6,841‌

VICI

Properties

Inc

56,150‌

1,768‌

Vornado

Realty

Trust

9,880‌

222‌

Welltower

Inc

27,797‌

2,284‌

Weyerhaeuser

Co

40,962‌

1,395‌

WP

Carey

Inc

11,854‌

800‌

$

306,972‌

Retail

-

5

.52

%

Advance

Auto

Parts

Inc

3,330‌

248‌

AutoNation

Inc

(d)

1,703‌

274‌

Bath

&

Body

Works

Inc

12,810‌

475‌

Best

Buy

Co

Inc

9,400‌

781‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

429,862‌

28,504‌

CarMax

Inc

(d)

8,337‌

689‌

Casey's

General

Stores

Inc

67,427‌

17,036‌

Darden

Restaurants

Inc

190,596‌

32,195‌

Dick's

Sporting

Goods

Inc

22,012‌

3,104‌

Dollar

Tree

Inc

(d)

11,662‌

1,800‌

Domino's

Pizza

Inc

22,192‌

8,804‌

Freshpet

Inc

(d)

1,849‌

136‌

GameStop

Corp

(d),(e)

14,973‌

332‌

Gap

Inc/The

10,864‌

112‌

Genuine

Parts

Co

7,844‌

1,221‌

Kohl's

Corp

6,178‌

176‌

Lithia

Motors

Inc

1,513‌

470‌

Macy's

Inc

15,124‌

251‌

MSC

Industrial

Direct

Co

Inc

38,752‌

3,911‌

Murphy

USA

Inc

57‌

18‌

Nordstrom

Inc

(e)

6,376‌

147‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

2,340‌

171‌

O'Reilly

Automotive

Inc

(d)

6,882‌

6,371‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Penske

Automotive

Group

Inc

1,123‌

$

181‌

Petco

Health

&

Wellness

Co

Inc

(d)

4,908‌

40‌

RH

(d)

758‌

294‌

Ross

Stores

Inc

432,259‌

49,554‌

Victoria's

Secret

&

Co

(d)

2,420‌

50‌

Walgreens

Boots

Alliance

Inc

40,064‌

1,201‌

Williams-Sonoma

Inc

3,172‌

440‌

Yum!

Brands

Inc

436,405‌

60,079‌

$

219,065‌

Savings

&

Loans

-

0

.02

%

New

York

Community

Bancorp

Inc

39,810‌

552‌

TFS

Financial

Corp

3,303‌

48‌

$

600‌

Semiconductors

-

2

.74

%

Cirrus

Logic

Inc

(d)

126,478‌

10,219‌

Entegris

Inc

7,913‌

868‌

GLOBALFOUNDRIES

Inc

(d),(e)

4,382‌

279‌

IPG

Photonics

Corp

(d)

1,676‌

220‌

Marvell

Technology

Inc

47,804‌

3,114‌

Microchip

Technology

Inc

8,632‌

811‌

MKS

Instruments

Inc

416,908‌

45,514‌

ON

Semiconductor

Corp

(d)

24,116‌

2,599‌

Qorvo

Inc

(d)

5,572‌

613‌

Skyworks

Solutions

Inc

382,892‌

43,791‌

Teradyne

Inc

1,454‌

164‌

Wolfspeed

Inc

(d)

6,932‌

457‌

$

108,649‌

Shipbuilding

-

0

.01

%

Huntington

Ingalls

Industries

Inc

2,189‌

503‌

Software

-

2

.12

%

Akamai

Technologies

Inc

(d)

182,733‌

17,268‌

ANSYS

Inc

(d)

14,593‌

4,992‌

AppLovin

Corp

(d)

9,460‌

297‌

Aspen

Technology

Inc

(d)

1,558‌

278‌

Bentley

Systems

Inc

782‌

42‌

BILL

Holdings

Inc

(d)

42,758‌

5,359‌

Black

Knight

Inc

(d)

8,558‌

602‌

Broadridge

Financial

Solutions

Inc

1,073‌

180‌

CCC

Intelligent

Solutions

Holdings

Inc

(d)

11,243‌

124‌

Ceridian

HCM

Holding

Inc

(d)

7,535‌

534‌

Concentrix

Corp

2,454‌

204‌

Doximity

Inc

(d)

3,644‌

130‌

Dropbox

Inc

-

A

Shares

(d)

1,623‌

44‌

Electronic

Arts

Inc

15,323‌

2,089‌

Fidelity

National

Information

Services

Inc

33,113‌

1,999‌

Guidewire

Software

Inc

(d)

78,726‌

6,678‌

HashiCorp

Inc

(d)

1,639‌

49‌

Informatica

Inc

(d)

2,164‌

41‌

Jack

Henry

&

Associates

Inc

2,775‌

465‌

Manhattan

Associates

Inc

(d)

39,436‌

7,517‌

MSCI

Inc

2,172‌

1,190‌

nCino

Inc

(d)

3,391‌

110‌

Nutanix

Inc

(d)

546,702‌

16,511‌

Paycor

HCM

Inc

(d)

1,674‌

45‌

Playtika

Holding

Corp

(d)

653‌

8‌

PTC

Inc

(d)

2,898‌

423‌

SentinelOne

Inc

(d)

9,110‌

152‌

SS&C

Technologies

Holdings

Inc

12,151‌

708‌

Take-Two

Interactive

Software

Inc

(d)

9,221‌

1,410‌

Teradata

Corp

(d)

138,623‌

7,881‌

Twilio

Inc

(d)

7,901‌

522‌

Tyler

Technologies

Inc

(d)

566‌

225‌

UiPath

Inc

(d)

4,893‌

88‌

Unity

Software

Inc

(d)

9,736‌

446‌

Zoom

Video

Communications

Inc

(d)

70,838‌

5,196‌

ZoomInfo

Technologies

Inc

(d)

8,422‌

215‌

$

84,022‌

Schedule

of

Investments

MidCap

Value

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

155

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Telecommunications

-

0

.81

%

Ciena

Corp

(d)

90,976‌

$

3,839‌

Corning

Inc

42,540‌

1,444‌

Frontier

Communications

Parent

Inc

(d)

13,685‌

249‌

Iridium

Communications

Inc

445‌

23‌

Juniper

Networks

Inc

17,795‌

495‌

Motorola

Solutions

Inc

91,000‌

26,083‌

Ubiquiti

Inc

36‌

6‌

Viasat

Inc

(d)

4,022‌

125‌

$

32,264‌

Toys,

Games

&

Hobbies

-

0

.02

%

Hasbro

Inc

7,304‌

472‌

Mattel

Inc

(d)

19,676‌

419‌

$

891‌

Transportation

-

2

.76

%

CH

Robinson

Worldwide

Inc

1,421‌

142‌

Expeditors

International

of

Washington

Inc

7,436‌

947‌

JB

Hunt

Transport

Services

Inc

224,794‌

45,844‌

Kirby

Corp

(d)

3,329‌

271‌

Knight-Swift

Transportation

Holdings

Inc

8,731‌

531‌

Landstar

System

Inc

180,121‌

36,671‌

Old

Dominion

Freight

Line

Inc

378‌

159‌

Ryder

System

Inc

151,800‌

15,506‌

Saia

Inc

(d)

1,319‌

558‌

Schneider

National

Inc

278,818‌

8,590‌

XPO

Inc

(d)

6,366‌

441‌

$

109,660‌

Water

-

0

.05

%

American

Water

Works

Co

Inc

10,899‌

1,607‌

Essential

Utilities

Inc

13,573‌

574‌

$

2,181‌

TOTAL

COMMON

STOCKS

$

3,873,795‌

Total

Investments

$

3,974,790‌

Other

Assets

and

Liabilities

-  (0.21)%

(

8,463‌

)

TOTAL

NET

ASSETS

-

100.00%

$

3,966,327‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,643

or

0.07%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,672

or

0.07%

of

net

assets.

(f)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Portfolio

Summary

Sector

Percent

Industrial

22

.30‌

%

Financial

21

.14‌

%

Consumer,

Cyclical

17

.03‌

%

Consumer,

Non-cyclical

14

.87‌

%

Technology

9

.89‌

%

Basic

Materials

4

.42‌

%

Energy

3

.37‌

%

Utilities

3

.18‌

%

Money

Market

Funds

2

.32‌

%

Communications

1

.47‌

%

Exchange-Traded

Funds

0

.22‌

%

Other

Assets

and

Liabilities

(

0

.21‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

681,243‌

$

591,698‌

$

89,545‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

108,689‌

273,755‌

382,444‌

—‌

$

108,689‌

$

954,998‌

$

974,142‌

$

89,545‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

2,867‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

387‌

—‌

—‌

—‌

$

3,254‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

Mid

400

Emini;

September

2023

Long

37‌

$

10,151‌

$

368‌

Total

$

368‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Overseas

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

156

INVESTMENT

COMPANIES

-

3

.03

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.32

%

iShares

MSCI

EAFE

Value

ETF

157,800‌

$

8,056‌

Money

Market

Funds

-

2

.71

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

1,542,061‌

1,541‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

66,360,370‌

66,361‌

$

67,902‌

TOTAL

INVESTMENT

COMPANIES

$

75,958‌

COMMON

STOCKS

-

95

.61

%

Shares

Held

Value

(000's)

Advertising

-

0

.06

%

Hakuhodo

DY

Holdings

Inc

11,100‌

$

128‌

Publicis

Groupe

SA

10,807‌

871‌

WPP

PLC

50,741‌

554‌

$

1,553‌

Aerospace

&

Defense

-

4

.29

%

BAE

Systems

PLC

1,286,893‌

15,390‌

MTU

Aero

Engines

AG

1,264‌

295‌

Rheinmetall

AG

54,941‌

15,562‌

Rolls-Royce

Holdings

PLC

(d)

25,705,550‌

60,951‌

Thales

SA

103,186‌

15,436‌

$

107,634‌

Agriculture

-

0

.68

%

British

American

Tobacco

PLC

431,549‌

14,512‌

Imperial

Brands

PLC

41,454‌

979‌

Japan

Tobacco

Inc

56,600‌

1,256‌

Wilmar

International

Ltd

90,000‌

262‌

$

17,009‌

Airlines

-

0

.70

%

ANA

Holdings

Inc

(d)

7,500‌

180‌

Deutsche

Lufthansa

AG

(d)

28,223‌

285‌

Japan

Airlines

Co

Ltd

4,400‌

95‌

Ryanair

Holdings

PLC

ADR

(d)

162,325‌

16,643‌

Singapore

Airlines

Ltd

63,200‌

358‌

$

17,561‌

Apparel

-

0

.44

%

Kering

SA

19,050‌

10,938‌

Automobile

Manufacturers

-

2

.06

%

Bayerische

Motoren

Werke

AG

15,632‌

1,906‌

Daimler

Truck

Holding

AG

178,405‌

6,696‌

Honda

Motor

Co

Ltd

765,238‌

24,397‌

Isuzu

Motors

Ltd

27,400‌

356‌

Mazda

Motor

Corp

26,900‌

267‌

Mercedes-Benz

Group

AG

40,412‌

3,227‌

Nissan

Motor

Co

Ltd

109,500‌

482‌

Renault

SA

5,900‌

259‌

Stellantis

NV

106,212‌

2,179‌

Subaru

Corp

29,000‌

550‌

Suzuki

Motor

Corp

17,200‌

691‌

Toyota

Motor

Corp

500,650‌

8,418‌

Volkswagen

AG

1,392‌

223‌

Volvo

AB

-

A

Shares

9,454‌

214‌

Volvo

AB

-

B

Shares

71,253‌

1,572‌

Volvo

Car

AB

(d),(e)

28,130‌

139‌

$

51,576‌

Automobile

Parts

&

Equipment

-

2

.28

%

Aisin

Corp

6,900‌

224‌

Bridgestone

Corp

27,000‌

1,120‌

Cie

Generale

des

Etablissements

Michelin

SCA

797,215‌

26,107‌

Continental

AG

5,193‌

415‌

Koito

Manufacturing

Co

Ltd

1,162,752‌

21,380‌

NGK

Insulators

Ltd

11,100‌

136‌

Sumitomo

Electric

Industries

Ltd

33,700‌

432‌

Toyota

Industries

Corp

6,900‌

499‌

Valeo

303,966‌

6,871‌

$

57,184‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

-

12

.96

%

ABN

AMRO

Bank

NV

(f)

19,070‌

$

324‌

AIB

Group

PLC

63,112‌

297‌

ANZ

Group

Holdings

Ltd

141,813‌

2,460‌

Banco

Bilbao

Vizcaya

Argentaria

SA

284,730‌

2,257‌

Banco

Bradesco

SA

ADR

1,493,209‌

5,271‌

Banco

Santander

SA

776,927‌

3,148‌

Bank

Hapoalim

BM

59,947‌

532‌

Bank

Leumi

Le-Israel

BM

72,897‌

582‌

Bank

of

Ireland

Group

PLC

25,267‌

267‌

Banque

Cantonale

Vaudoise

1,422‌

160‌

Barclays

PLC

12,696,058‌

25,193‌

BNP

Paribas

SA

151,249‌

9,974‌

BOC

Hong

Kong

Holdings

Ltd

9,448,271‌

28,837‌

CaixaBank

SA

194,829‌

788‌

Chiba

Bank

Ltd/The

25,000‌

176‌

Commerzbank

AG

50,263‌

601‌

Concordia

Financial

Group

Ltd

50,200‌

230‌

Credit

Agricole

SA

57,151‌

709‌

Danske

Bank

A/S

32,568‌

773‌

DBS

Group

Holdings

Ltd

55,400‌

1,429‌

Deutsche

Bank

AG

91,521‌

1,014‌

DNB

Bank

ASA

934,842‌

19,265‌

Erste

Group

Bank

AG

16,235‌

614‌

Hang

Seng

Bank

Ltd

36,100‌

552‌

HSBC

Holdings

PLC

5,612,624‌

46,621‌

ING

Groep

NV

3,088,058‌

45,076‌

Intesa

Sanpaolo

SpA

762,119‌

2,204‌

Israel

Discount

Bank

Ltd

57,694‌

306‌

Japan

Post

Bank

Co

Ltd

69,600‌

579‌

KBC

Group

NV

11,818‌

889‌

Lloyds

Banking

Group

PLC

3,128,693‌

1,808‌

Macquarie

Group

Ltd

17,335‌

2,044‌

Mediobanca

Banca

di

Credito

Finanziario

SpA

26,067‌

347‌

Mitsubishi

UFJ

Financial

Group

Inc

539,400‌

4,343‌

Mizrahi

Tefahot

Bank

Ltd

7,196‌

260‌

Mizuho

Financial

Group

Inc

113,800‌

1,931‌

National

Australia

Bank

Ltd

148,202‌

2,839‌

NatWest

Group

PLC

589,228‌

1,850‌

Nordea

Bank

Abp

153,193‌

1,734‌

Oversea-Chinese

Banking

Corp

Ltd

159,800‌

1,599‌

Resona

Holdings

Inc

100,800‌

549‌

Shizuoka

Financial

Group

Inc

21,100‌

176‌

Skandinaviska

Enskilda

Banken

AB

76,301‌

925‌

Societe

Generale

SA

22,326‌

607‌

Standard

Chartered

PLC

113,650‌

1,092‌

Sumitomo

Mitsui

Financial

Group

Inc

221,700‌

10,387‌

Sumitomo

Mitsui

Trust

Holdings

Inc

15,507‌

603‌

Svenska

Handelsbanken

AB

68,871‌

605‌

Swedbank

AB

326,698‌

5,992‌

UBS

Group

AG

429,013‌

9,520‌

UniCredit

SpA

1,543,896‌

39,092‌

United

Overseas

Bank

Ltd

1,447,760‌

32,840‌

Westpac

Banking

Corp

165,693‌

2,490‌

$

324,761‌

Beverages

-

2

.22

%

Anheuser-Busch

InBev

SA/NV

203,239‌

11,626‌

Asahi

Group

Holdings

Ltd

588,100‌

23,117‌

Carlsberg

AS

1,626‌

244‌

Coca-Cola

Europacific

Partners

PLC

9,712‌

616‌

Coca-Cola

HBC

AG

(d)

5,201‌

153‌

Diageo

PLC

445,135‌

19,427‌

Heineken

Holding

NV

3,536‌

290‌

JDE

Peet's

NV

5,934‌

179‌

Suntory

Beverage

&

Food

Ltd

2,500‌

89‌

$

55,741‌

Building

Materials

-

0

.30

%

AGC

Inc

9,500‌

343‌

Cie

de

Saint-Gobain

23,136‌

1,565‌

CRH

PLC

34,960‌

2,083‌

Schedule

of

Investments

Overseas

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

157

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Building

Materials

(continued)

Geberit

AG

563‌

$

320‌

Heidelberg

Materials

AG

6,838‌

554‌

Holcim

Ltd

(d)

26,175‌

1,824‌

Lixil

Corp

13,500‌

173‌

ROCKWOOL

A/S

432‌

116‌

Svenska

Cellulosa

AB

SCA

28,609‌

380‌

TOTO

Ltd

3,200‌

98‌

Xinyi

Glass

Holdings

Ltd

79,000‌

131‌

$

7,587‌

Chemicals

-

4

.74

%

Air

Liquide

SA

59,137‌

10,633‌

Akzo

Nobel

NV

558,907‌

47,813‌

Arkema

SA

175,131‌

18,886‌

Asahi

Kasei

Corp

59,100‌

403‌

BASF

SE

446,897‌

23,959‌

Clariant

AG

(d)

10,187‌

167‌

Covestro

AG

(d),(f)

9,122‌

490‌

DSM-Firmenich

AG

2,888‌

318‌

EMS-Chemie

Holding

AG

214‌

179‌

Evonik

Industries

AG

9,901‌

205‌

ICL

Group

Ltd

36,078‌

240‌

Johnson

Matthey

PLC

8,661‌

200‌

Mitsubishi

Chemical

Group

Corp

60,300‌

361‌

Mitsui

Chemicals

Inc

8,100‌

233‌

OCI

NV

3,240‌

92‌

Solvay

SA

3,499‌

420‌

Sumitomo

Chemical

Co

Ltd

43,100‌

133‌

Toray

Industries

Inc

65,400‌

366‌

Tosoh

Corp

985,300‌

12,879‌

Umicore

SA

(e)

9,889‌

293‌

Wacker

Chemie

AG

861‌

134‌

Yara

International

ASA

7,816‌

319‌

$

118,723‌

Commercial

Services

-

2

.04

%

Adecco

Group

AG

7,555‌

308‌

Amadeus

IT

Group

SA

177,005‌

12,698‌

Dai

Nippon

Printing

Co

Ltd

10,400‌

296‌

Intertek

Group

PLC

2,666‌

149‌

Randstad

NV

282,472‌

16,548‌

RELX

PLC

253,348‌

8,527‌

RELX

PLC

320,448‌

10,768‌

Secom

Co

Ltd

4,900‌

329‌

Securitas

AB

23,221‌

198‌

SGS

SA

3,539‌

344‌

TOPPAN

INC

11,700‌

275‌

Transurban

Group

72,728‌

702‌

$

51,142‌

Computers

-

0

.02

%

CyberArk

Software

Ltd

(d)

968‌

161‌

Itochu

Techno-Solutions

Corp

1,700‌

43‌

Logitech

International

SA

2,716‌

192‌

Otsuka

Corp

2,100‌

87‌

$

483‌

Consumer

Products

-

1

.20

%

Henkel

AG

&

Co

KGaA

4,906‌

343‌

Reckitt

Benckiser

Group

PLC

396,079‌

29,671‌

$

30,014‌

Cosmetics

&

Personal

Care

-

0

.94

%

Haleon

PLC

83,933‌

362‌

Kao

Corp

14,200‌

540‌

Unilever

PLC

423,646‌

22,764‌

$

23,666‌

Distribution

&

Wholesale

-

0

.33

%

Bunzl

PLC

5,581‌

207‌

ITOCHU

Corp

19,700‌

797‌

Marubeni

Corp

72,300‌

1,280‌

Mitsubishi

Corp

58,400‌

2,988‌

Mitsui

&

Co

Ltd

31,000‌

1,210‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Distribution

&

Wholesale

(continued)

Sumitomo

Corp

53,100‌

$

1,139‌

Toyota

Tsusho

Corp

10,000‌

585‌

$

8,206‌

Diversified

Financial

Services

-

1

.95

%

abrdn

plc

94,607‌

282‌

AerCap

Holdings

NV

(d)

7,836‌

500‌

Amundi

SA

(f)

2,887‌

177‌

ASX

Ltd

3,199‌

134‌

Azimut

Holding

SpA

491,725‌

11,611‌

Daiwa

Securities

Group

Inc

62,900‌

341‌

Euronext

NV

(f)

4,045‌

308‌

Hargreaves

Lansdown

PLC

16,797‌

184‌

Julius

Baer

Group

Ltd

461,081‌

32,657‌

Mitsubishi

HC

Capital

Inc

41,500‌

275‌

Nomura

Holdings

Inc

137,300‌

568‌

ORIX

Corp

55,400‌

1,066‌

SBI

Holdings

Inc

7,600‌

160‌

Schroders

PLC

38,057‌

224‌

St

James's

Place

PLC

25,880‌

312‌

$

48,799‌

Electric

-

3

.92

%

Chubu

Electric

Power

Co

Inc

30,400‌

381‌

CLP

Holdings

Ltd

220,500‌

1,798‌

E.ON

SE

106,010‌

1,341‌

EDP

-

Energias

de

Portugal

SA

138,290‌

646‌

EDP

Renovaveis

SA

6,099‌

116‌

Endesa

SA

14,996‌

321‌

Enel

SpA

8,184,127‌

56,431‌

Engie

SA

86,242‌

1,415‌

Fortum

Oyj

21,183‌

287‌

Iberdrola

SA

1,164,948‌

14,541‌

Kansai

Electric

Power

Co

Inc/The

33,200‌

436‌

Mercury

NZ

Ltd

32,733‌

134‌

Meridian

Energy

Ltd

30,483‌

107‌

National

Grid

PLC

173,639‌

2,302‌

Origin

Energy

Ltd

81,341‌

463‌

Orsted

AS

(f)

5,805‌

505‌

Power

Assets

Holdings

Ltd

65,000‌

341‌

Redeia

Corp

SA

19,162‌

320‌

RWE

AG

336,909‌

14,500‌

SSE

PLC

51,482‌

1,113‌

Terna

-

Rete

Elettrica

Nazionale

66,435‌

561‌

Tokyo

Electric

Power

Co

Holdings

Inc

(d)

71,900‌

286‌

$

98,345‌

Electrical

Components

&

Equipment

-

0

.01

%

Brother

Industries

Ltd

11,100‌

173‌

Electronics

-

1

.72

%

Kyocera

Corp

15,100‌

813‌

MINEBEA

MITSUMI

Inc

1,059,600‌

19,627‌

Murata

Manufacturing

Co

Ltd

379,300‌

22,531‌

Yokogawa

Electric

Corp

5,400‌

101‌

$

43,072‌

Engineering

&

Construction

-

1

.56

%

ACS

Actividades

de

Construccion

y

Servicios

SA

10,345‌

362‌

Aena

SME

SA

(f)

98,706‌

15,763‌

Auckland

International

Airport

Ltd

(d)

38,420‌

201‌

Beijing

Capital

International

Airport

Co

Ltd

(d)

6,588,000‌

4,308‌

Bouygues

SA

9,727‌

348‌

CK

Infrastructure

Holdings

Ltd

29,500‌

156‌

Eiffage

SA

1,737‌

181‌

Ferrovial

SE

(e)

8,497‌

282‌

Kajima

Corp

20,000‌

316‌

Lendlease

Corp

Ltd

32,545‌

189‌

Obayashi

Corp

30,500‌

282‌

Shimizu

Corp

26,000‌

179‌

Skanska

AB

16,064‌

256‌

Taisei

Corp

8,100‌

307‌

Vinci

SA

135,024‌

15,858‌

$

38,988‌

Schedule

of

Investments

Overseas

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

158

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Entertainment

-

0

.84

%

Entain

PLC

356,301‌

$

6,346‌

Genting

Singapore

Ltd

19,239,675‌

13,609‌

Oriental

Land

Co

Ltd/Japan

25,700‌

986‌

Toho

Co

Ltd/Tokyo

1,900‌

74‌

$

21,015‌

Food

-

3

.28

%

Aeon

Co

Ltd

15,300‌

331‌

Carrefour

SA

575,451‌

11,504‌

Chocoladefabriken

Lindt

&

Spruengli

AG

-

PC

16‌

196‌

CK

Hutchison

Holdings

Ltd

2,929,500‌

18,067‌

Danone

SA

778,942‌

47,568‌

J

Sainsbury

PLC

77,867‌

277‌

Kesko

Oyj

12,896‌

258‌

Koninklijke

Ahold

Delhaize

NV

46,072‌

1,588‌

MEIJI

Holdings

Co

Ltd

10,500‌

243‌

Mowi

ASA

20,753‌

365‌

Ocado

Group

PLC

(d)

13,659‌

164‌

Orkla

ASA

35,463‌

280‌

Salmar

ASA

3,426‌

158‌

Tesco

PLC

345,262‌

1,144‌

WH

Group

Ltd

(f)

192,000‌

105‌

$

82,248‌

Food

Service

-

0

.53

%

Compass

Group

PLC

508,627‌

13,233‌

Sodexo

SA

1,461‌

150‌

$

13,383‌

Forest

Products

&

Paper

-

0

.08

%

Holmen

AB

(e)

4,430‌

171‌

Mondi

PLC

22,926‌

402‌

Oji

Holdings

Corp

40,700‌

161‌

Smurfit

Kappa

Group

PLC

12,282‌

486‌

UPM-Kymmene

Oyj

25,201‌

834‌

$

2,054‌

Gas

-

1

.10

%

Centrica

PLC

14,516,728‌

25,726‌

Enagas

SA

11,750‌

209‌

Hong

Kong

&

China

Gas

Co

Ltd

520,300‌

446‌

Naturgy

Energy

Group

SA

5,953‌

182‌

Osaka

Gas

Co

Ltd

6,300‌

99‌

Snam

SpA

95,212‌

500‌

Tokyo

Gas

Co

Ltd

18,400‌

417‌

$

27,579‌

Hand

&

Machine

Tools

-

0

.94

%

Fuji

Electric

Co

Ltd

3,800‌

172‌

Makita

Corp

823,200‌

23,116‌

Schindler

Holding

AG

-

PC

673‌

163‌

Schindler

Holding

AG

-

REG

388‌

90‌

$

23,541‌

Healthcare

-

Products

-

3

.03

%

EBOS

Group

Ltd

2,773‌

66‌

Elekta

AB

2,192,937‌

17,765‌

EssilorLuxottica

SA

4,810‌

968‌

FUJIFILM

Holdings

Corp

17,700‌

1,028‌

Getinge

AB

796,537‌

14,842‌

Koninklijke

Philips

NV

(d)

1,012,503‌

21,033‌

Smith

&

Nephew

PLC

1,324,160‌

20,145‌

$

75,847‌

Healthcare

-

Services

-

0

.06

%

Eurofins

Scientific

SE

2,231‌

153‌

Fresenius

Medical

Care

AG

&

Co

KGaA

9,699‌

504‌

Fresenius

SE

&

Co

KGaA

19,945‌

626‌

Sonic

Healthcare

Ltd

7,374‌

174‌

$

1,457‌

Holding

Companies

-

Diversified

-

0

.02

%

Jardine

Matheson

Holdings

Ltd

7,518‌

371‌

Swire

Pacific

Ltd

20,500‌

172‌

$

543‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Home

Builders

-

0

.67

%

Barratt

Developments

PLC

46,727‌

$

274‌

Berkeley

Group

Holdings

PLC

5,082‌

283‌

Daiwa

House

Industry

Co

Ltd

28,200‌

766‌

Iida

Group

Holdings

Co

Ltd

7,400‌

130‌

Persimmon

PLC

1,001,831‌

14,894‌

Sekisui

Chemical

Co

Ltd

5,900‌

90‌

Taylor

Wimpey

PLC

166,758‌

245‌

$

16,682‌

Home

Furnishings

-

0

.67

%

Electrolux

AB

1,230,213‌

15,195‌

Panasonic

Holdings

Corp

104,200‌

1,286‌

SEB

SA

1,175‌

132‌

Sharp

Corp/Japan

11,800‌

70‌

$

16,683‌

Insurance

-

6

.01

%

Admiral

Group

PLC

10,022‌

274‌

Aegon

NV

79,681‌

433‌

Ageas

SA/NV

7,614‌

322‌

Allianz

SE

182,334‌

43,578‌

Assicurazioni

Generali

SpA

47,859‌

1,019‌

Aviva

PLC

131,526‌

655‌

AXA

SA

767,421‌

23,590‌

Baloise

Holding

AG

2,162‌

335‌

Dai-ichi

Life

Holdings

Inc

44,600‌

911‌

Gjensidige

Forsikring

ASA

6,137‌

97‌

Hannover

Rueck

SE

1,422‌

303‌

Helvetia

Holding

AG

1,751‌

259‌

Insurance

Australia

Group

Ltd

57,832‌

231‌

Japan

Post

Holdings

Co

Ltd

103,700‌

757‌

Japan

Post

Insurance

Co

Ltd

9,500‌

154‌

Legal

&

General

Group

PLC

10,386,340‌

31,126‌

M&G

PLC

105,865‌

273‌

MS&AD

Insurance

Group

Holdings

Inc

20,000‌

744‌

NN

Group

NV

11,841‌

454‌

Phoenix

Group

Holdings

PLC

35,427‌

250‌

Prudential

PLC

1,789,383‌

24,848‌

Sampo

Oyj

21,715‌

957‌

Sompo

Holdings

Inc

14,700‌

650‌

Suncorp

Group

Ltd

38,874‌

373‌

Swiss

Life

Holding

AG

1,455‌

925‌

Swiss

Re

AG

4,984‌

520‌

T&D

Holdings

Inc

11,900‌

193‌

Talanx

AG

2,990‌

183‌

Tokio

Marine

Holdings

Inc

85,000‌

1,955‌

Zurich

Insurance

Group

AG

29,341‌

14,186‌

$

150,555‌

Internet

-

0

.34

%

Rakuten

Group

Inc

24,600‌

96‌

Tencent

Holdings

Ltd

173,500‌

7,974‌

Trend

Micro

Inc/Japan

3,100‌

147‌

Z

Holdings

Corp

125,500‌

350‌

$

8,567‌

Investment

Companies

-

0

.16

%

Eurazeo

SE

2,057‌

126‌

EXOR

NV

5,120‌

478‌

Groupe

Bruxelles

Lambert

NV

4,695‌

380‌

Industrivarden

AB

-

A

Shares

3,074‌

87‌

Industrivarden

AB

-

C

Shares

3,644‌

103‌

Investor

AB

-

A

Shares

20,605‌

419‌

Investor

AB

-

B

Shares

81,727‌

1,669‌

L

E

Lundbergforetagen

AB

3,588‌

158‌

Sofina

SA

727‌

173‌

Washington

H

Soul

Pattinson

&

Co

Ltd

11,078‌

246‌

Wendel

SE

687‌

68‌

$

3,907‌

Iron

&

Steel

-

0

.14

%

ArcelorMittal

SA

22,798‌

659‌

BlueScope

Steel

Ltd

21,761‌

321‌

Fortescue

Metals

Group

Ltd

79,960‌

1,176‌

Schedule

of

Investments

Overseas

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

159

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Iron

&

Steel

(continued)

JFE

Holdings

Inc

23,200‌

$

375‌

Nippon

Steel

Corp

38,000‌

869‌

voestalpine

AG

5,479‌

181‌

$

3,581‌

Leisure

Products

&

Services

-

0

.01

%

Yamaha

Corp

2,400‌

93‌

Yamaha

Motor

Co

Ltd

9,200‌

270‌

$

363‌

Lodging

-

1

.02

%

Accor

SA

652,567‌

24,623‌

City

Developments

Ltd

23,500‌

131‌

Galaxy

Entertainment

Group

Ltd

(d)

36,000‌

263‌

Sands

China

Ltd

(d)

40,000‌

154‌

Whitbread

PLC

9,541‌

428‌

$

25,599‌

Machinery

-

Construction

&

Mining

-

1

.73

%

Hitachi

Construction

Machinery

Co

Ltd

5,100‌

153‌

Hitachi

Ltd

28,800‌

1,885‌

Komatsu

Ltd

835,747‌

23,414‌

Mitsubishi

Electric

Corp

1,141,011‌

16,466‌

Mitsubishi

Heavy

Industries

Ltd

15,100‌

716‌

Sandvik

AB

25,171‌

511‌

Siemens

Energy

AG

(d)

8,587‌

146‌

$

43,291‌

Machinery

-

Diversified

-

1

.66

%

CNH

Industrial

NV

48,317‌

698‌

FANUC

Corp

682,100‌

20,867‌

Kone

Oyj

5,618‌

288‌

Kubota

Corp

31,100‌

470‌

Nabtesco

Corp

888,658‌

18,850‌

Omron

Corp

2,900‌

155‌

Wartsila

OYJ

Abp

22,351‌

281‌

$

41,609‌

Media

-

0

.03

%

Bollore

SE

41,801‌

264‌

Pearson

PLC

30,432‌

337‌

Vivendi

SE

11,848‌

106‌

$

707‌

Metal

Fabrication

&

Hardware

-

1

.67

%

NSK

Ltd

2,972,700‌

19,241‌

SKF

AB

1,180,540‌

22,492‌

Tenaris

SA

11,148‌

185‌

$

41,918‌

Mining

-

1

.73

%

Anglo

American

PLC

59,998‌

1,845‌

Antofagasta

PLC

18,619‌

401‌

BHP

Group

Ltd

239,199‌

7,444‌

Boliden

AB

12,914‌

380‌

Endeavour

Mining

PLC

8,765‌

211‌

Glencore

PLC

503,985‌

3,065‌

Gold

Fields

Ltd

490,633‌

7,609‌

Newcrest

Mining

Ltd

27,447‌

492‌

Norsk

Hydro

ASA

63,498‌

416‌

Rio

Tinto

PLC

310,311‌

20,511‌

South32

Ltd

215,367‌

567‌

Sumitomo

Metal

Mining

Co

Ltd

11,700‌

404‌

$

43,345‌

Miscellaneous

Manufacturers

-

1

.20

%

Alstom

SA

834,526‌

25,553‌

JSR

Corp

5,400‌

155‌

Knorr-Bremse

AG

1,714‌

120‌

Siemens

AG

23,326‌

3,976‌

Smiths

Group

PLC

16,632‌

363‌

$

30,167‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Office

&

Business

Equipment

-

0

.07

%

Canon

Inc

47,100‌

$

1,217‌

Ricoh

Co

Ltd

25,900‌

231‌

Seiko

Epson

Corp

13,600‌

223‌

$

1,671‌

Oil

&

Gas

-

5

.33

%

Aker

BP

ASA

1,231,331‌

34,493‌

Ampol

Ltd

11,251‌

249‌

BP

PLC

5,776,092‌

35,837‌

DCC

PLC

(d)

4,662‌

270‌

ENEOS

Holdings

Inc

136,210‌

494‌

Eni

SpA

109,617‌

1,673‌

Equinor

ASA

44,981‌

1,376‌

Galp

Energia

SGPS

SA

8,133‌

108‌

Idemitsu

Kosan

Co

Ltd

9,900‌

209‌

Inpex

Corp

45,900‌

593‌

OMV

AG

6,953‌

313‌

Repsol

SA

62,677‌

957‌

Santos

Ltd

155,887‌

839‌

Shell

PLC

326,674‌

10,049‌

Shell

PLC

323,237‌

9,797‌

Suncor

Energy

Inc

870,032‌

27,223‌

TotalEnergies

SE

111,708‌

6,787‌

Woodside

Energy

Group

Ltd

89,654‌

2,311‌

$

133,578‌

Packaging

&

Containers

-

0

.76

%

DS

Smith

PLC

4,715,309‌

18,747‌

Stora

Enso

Oyj

27,470‌

337‌

$

19,084‌

Pharmaceuticals

-

6

.59

%

Astellas

Pharma

Inc

55,700‌

814‌

AstraZeneca

PLC

184,631‌

26,527‌

Bayer

AG

229,707‌

13,434‌

GSK

PLC

1,227,304‌

21,847‌

Hikma

Pharmaceuticals

PLC

7,814‌

210‌

Ipsen

SA

1,157‌

146‌

Novartis

AG

299,826‌

31,391‌

Orion

Oyj

1,771‌

68‌

Recordati

Industria

Chimica

e

Farmaceutica

SpA

1,728‌

89‌

Roche

Holding

AG

93,848‌

29,098‌

Sanofi

222,535‌

23,741‌

Takeda

Pharmaceutical

Co

Ltd

571,800‌

17,483‌

Teva

Pharmaceutical

Industries

Ltd

ADR

(d)

52,448‌

441‌

$

165,289‌

Pipelines

-

1

.02

%

APA

Group

27,853‌

187‌

Enbridge

Inc

692,603‌

25,464‌

$

25,651‌

Private

Equity

-

0

.07

%

3i

Group

PLC

45,957‌

1,166‌

Partners

Group

Holding

AG

536‌

602‌

$

1,768‌

Real

Estate

-

0

.29

%

CK

Asset

Holdings

Ltd

93,500‌

541‌

Daito

Trust

Construction

Co

Ltd

2,900‌

312‌

Fastighets

AB

Balder

(d)

11,792‌

55‌

Hang

Lung

Properties

Ltd

86,000‌

134‌

Henderson

Land

Development

Co

Ltd

68,438‌

212‌

Hongkong

Land

Holdings

Ltd

52,001‌

185‌

Hulic

Co

Ltd

18,100‌

154‌

LEG

Immobilien

SE

(d)

3,499‌

247‌

Mitsubishi

Estate

Co

Ltd

53,000‌

650‌

Mitsui

Fudosan

Co

Ltd

42,500‌

873‌

New

World

Development

Co

Ltd

71,451‌

177‌

Nomura

Real

Estate

Holdings

Inc

5,300‌

131‌

Sekisui

House

Ltd

(e)

29,100‌

594‌

Sino

Land

Co

Ltd

170,000‌

209‌

Sumitomo

Realty

&

Development

Co

Ltd

13,600‌

364‌

Sun

Hung

Kai

Properties

Ltd

68,383‌

859‌

Schedule

of

Investments

Overseas

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

160

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Real

Estate

(continued)

Swire

Properties

Ltd

54,200‌

$

136‌

Swiss

Prime

Site

AG

3,622‌

351‌

Vonovia

SE

33,820‌

788‌

Wharf

Real

Estate

Investment

Co

Ltd

79,000‌

424‌

$

7,396‌

REITs

-

0

.26

%

British

Land

Co

PLC/The

41,578‌

180‌

CapitaLand

Integrated

Commercial

Trust

250,199‌

384‌

Covivio

SA/France

2,237‌

108‌

Daiwa

House

REIT

Investment

Corp

104‌

205‌

Dexus

50,782‌

281‌

Gecina

SA

2,170‌

235‌

GPT

Group/The

90,441‌

264‌

Japan

Metropolitan

Fund

Invest

329‌

226‌

Japan

Real

Estate

Investment

Corp

59‌

237‌

Klepierre

SA

10,158‌

270‌

Land

Securities

Group

PLC

33,260‌

276‌

Link

REIT

119,380‌

671‌

Mapletree

Pan

Asia

Commercial

Trust

110,400‌

137‌

Mirvac

Group

186,304‌

294‌

Nippon

Building

Fund

Inc

72‌

302‌

Nippon

Prologis

REIT

Inc

52‌

106‌

Nomura

Real

Estate

Master

Fund

Inc

200‌

238‌

Scentre

Group

245,069‌

464‌

Segro

PLC

57,843‌

566‌

Stockland

112,709‌

320‌

Unibail-Rodamco-Westfield

(d)

5,570‌

316‌

Vicinity

Ltd

182,689‌

243‌

Warehouses

De

Pauw

CVA

7,704‌

228‌

$

6,551‌

Retail

-

1

.81

%

Alimentation

Couche-Tard

Inc

268,919‌

13,615‌

Associated

British

Foods

PLC

819,417‌

21,564‌

Dufry

AG

(d)

2,326‌

120‌

Industria

de

Diseno

Textil

SA

227,174‌

8,696‌

Kingfisher

PLC

91,537‌

289‌

Next

PLC

5,766‌

521‌

Swatch

Group

AG/The

-

BR

1,365‌

437‌

Swatch

Group

AG/The

-

REG

2,483‌

149‌

USS

Co

Ltd

3,800‌

66‌

$

45,457‌

Semiconductors

-

3

.25

%

Samsung

Electronics

Co

Ltd

743,513‌

40,709‌

SK

Hynix

Inc

391,881‌

37,952‌

SUMCO

Corp

16,400‌

239‌

Tokyo

Electron

Ltd

17,900‌

2,687‌

$

81,587‌

Software

-

1

.23

%

Embracer

Group

AB

(d)

30,954‌

89‌

SAP

SE

223,870‌

30,539‌

Temenos

AG

1,053‌

90‌

$

30,718‌

Telecommunications

-

1

.49

%

BT

Group

PLC

328,266‌

514‌

Deutsche

Telekom

AG

1,154,204‌

25,164‌

Elisa

Oyj

4,364‌

228‌

HKT

Trust

&

HKT

Ltd

174,000‌

205‌

KDDI

Corp

70,600‌

2,078‌

Koninklijke

KPN

NV

152,502‌

552‌

Nokia

OYJ

252,414‌

992‌

Orange

SA

87,924‌

994‌

SoftBank

Corp

135,500‌

1,505‌

Spark

New

Zealand

Ltd

88,353‌

284‌

Swisscom

AG

1,223‌

786‌

Tele2

AB

25,226‌

190‌

Telecom

Italia

SpA/Milano

(d)

470,453‌

136‌

Telefonaktiebolaget

LM

Ericsson

137,816‌

693‌

Telefonica

Deutschland

Holding

AG

42,128‌

113‌

Telefonica

SA

245,420‌

1,046‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Telecommunications

(continued)

Telenor

ASA

33,040‌

$

354‌

Telia

Co

AB

(e)

115,853‌

249‌

Telstra

Group

Ltd

66,826‌

191‌

Vodafone

Group

PLC

1,083,348‌

1,030‌

$

37,304‌

Transportation

-

1

.50

%

AP

Moller

-

Maersk

A/S

-

A

94‌

189‌

AP

Moller

-

Maersk

A/S

-

B

155‌

318‌

Aurizon

Holdings

Ltd

86,907‌

223‌

Canadian

Pacific

Kansas

City

Ltd

126,821‌

10,435‌

Central

Japan

Railway

Co

6,800‌

867‌

DHL

Group

407,682‌

20,965‌

East

Japan

Railway

Co

14,200‌

804‌

Hankyu

Hanshin

Holdings

Inc

10,600‌

352‌

Kawasaki

Kisen

Kaisha

Ltd

6,500‌

196‌

Keio

Corp

2,600‌

86‌

Keisei

Electric

Railway

Co

Ltd

3,800‌

158‌

Kintetsu

Group

Holdings

Co

Ltd

8,400‌

282‌

Mitsui

OSK

Lines

Ltd

16,200‌

419‌

MTR

Corp

Ltd

73,500‌

339‌

Nippon

Express

Holdings

Inc

3,500‌

205‌

Nippon

Yusen

KK

22,800‌

555‌

Odakyu

Electric

Railway

Co

Ltd

7,000‌

102‌

Poste

Italiane

SpA

(f)

24,668‌

282‌

SITC

International

Holdings

Co

Ltd

65,000‌

142‌

Tobu

Railway

Co

Ltd

5,800‌

153‌

Tokyu

Corp

16,200‌

205‌

West

Japan

Railway

Co

10,400‌

427‌

$

37,704‌

Water

-

0

.60

%

Severn

Trent

PLC

4,159‌

136‌

United

Utilities

Group

PLC

20,929‌

268‌

Veolia

Environnement

SA

453,595‌

14,769‌

$

15,173‌

TOTAL

COMMON

STOCKS

$

2,396,727‌

PREFERRED

STOCKS

-

1

.02

%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

0

.08

%

Bayerische

Motoren

Werke

AG

8.52%

2,803‌

$

315‌

Porsche

Automobil

Holding

SE

2.56%

7,229‌

426‌

Volkswagen

AG

8.76%

9,736‌

1,290‌

$

2,031‌

Consumer

Products

-

0

.94

%

Henkel

AG

&

Co

KGaA

1.85%

306,487‌

23,651‌

TOTAL

PREFERRED

STOCKS

$

25,682‌

Total

Investments

$

2,498,367‌

Other

Assets

and

Liabilities

-  0.34%

8,411‌

TOTAL

NET

ASSETS

-

100.00%

$

2,506,778‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,541

or

0.06%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,014

or

0.04%

of

net

assets.

(f)

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

$17,954

or

0.72%

of

net

assets.

Schedule

of

Investments

Overseas

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

161

Portfolio

Summary

Location

Percent

United

Kingdom

22

.13‌

%

Japan

13

.99‌

%

France

12

.07‌

%

Germany

9

.51‌

%

Netherlands

5

.50‌

%

Switzerland

5

.15‌

%

Italy

4

.54‌

%

Sweden

3

.41‌

%

Hong

Kong

3

.22‌

%

Korea,

Republic

Of

3

.13‌

%

Canada

3

.06‌

%

United

States

3

.03‌

%

Spain

2

.45‌

%

Norway

2

.28‌

%

Singapore

2

.03‌

%

Australia

1

.14‌

%

Ireland

0

.81‌

%

Belgium

0

.58‌

%

China

0

.49‌

%

South

Africa

0

.30‌

%

Finland

0

.24‌

%

Brazil

0

.21‌

%

Israel

0

.10‌

%

Denmark

0

.09‌

%

Austria

0

.05‌

%

Luxembourg

0

.05‌

%

New

Zealand

0

.03‌

%

Portugal

0

.03‌

%

Chile

0

.02‌

%

Jordan

0

.01‌

%

Macao

0

.01‌

%

Other

Assets

and

Liabilities

0

.34‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

1,102,090‌

$

1,035,729‌

$

66,361‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

34,824‌

308,228‌

343,052‌

—‌

$

34,824‌

$

1,410,318‌

$

1,378,781‌

$

66,361‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

1,530‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

172‌

—‌

—‌

—‌

$

1,702‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

eMini

MSCI

EAFE;

September

2023

Long

137‌

$

15,110‌

$

335‌

Total

$

335‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Principal

Capital

Appreciation

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

162

INVESTMENT

COMPANIES

-

0

.78

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.78

%

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b)

28,566,974‌

$

28,567‌

TOTAL

INVESTMENT

COMPANIES

$

28,567‌

COMMON

STOCKS

-

99

.41

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

0

.58

%

RTX

Corp

239,606‌

$

21,069‌

Apparel

-

1

.38

%

Deckers

Outdoor

Corp

(c)

80,165‌

43,585‌

NIKE

Inc

62,225‌

6,869‌

$

50,454‌

Automobile

Manufacturers

-

3

.37

%

Cummins

Inc

152,043‌

39,653‌

PACCAR

Inc

495,954‌

42,717‌

Tesla

Inc

(c)

152,022‌

40,655‌

$

123,025‌

Banks

-

4

.48

%

JPMorgan

Chase

&

Co

525,851‌

83,063‌

Morgan

Stanley

426,965‌

39,093‌

PNC

Financial

Services

Group

Inc/The

303,281‌

41,516‌

$

163,672‌

Beverages

-

1

.93

%

Keurig

Dr

Pepper

Inc

1,332,187‌

45,308‌

Monster

Beverage

Corp

(c)

436,344‌

25,085‌

$

70,393‌

Biotechnology

-

0

.06

%

Recursion

Pharmaceuticals

Inc

(c)

164,094‌

2,317‌

Building

Materials

-

1

.08

%

Trane

Technologies

PLC

197,291‌

39,348‌

Chemicals

-

2

.08

%

Air

Products

and

Chemicals

Inc

89,375‌

27,289‌

Albemarle

Corp

119,168‌

25,297‌

FMC

Corp

240,965‌

23,188‌

$

75,774‌

Commercial

Services

-

0

.66

%

PayPal

Holdings

Inc

(c)

320,017‌

24,264‌

Computers

-

7

.35

%

Amdocs

Ltd

338,989‌

31,743‌

Apple

Inc

1,203,466‌

236,421‌

$

268,164‌

Consumer

Products

-

1

.42

%

Avery

Dennison

Corp

126,345‌

23,249‌

Church

&

Dwight

Co

Inc

299,033‌

28,608‌

$

51,857‌

Diversified

Financial

Services

-

6

.73

%

Ameriprise

Financial

Inc

118,757‌

41,381‌

BlackRock

Inc

30,504‌

22,538‌

Charles

Schwab

Corp/The

115,873‌

7,659‌

Discover

Financial

Services

164,302‌

17,342‌

Nasdaq

Inc

763,775‌

38,563‌

Visa

Inc

497,633‌

118,302‌

$

245,785‌

Electric

-

2

.86

%

Constellation

Energy

Corp

595,658‌

57,570‌

NextEra

Energy

Inc

402,276‌

29,487‌

Xcel

Energy

Inc

274,799‌

17,238‌

$

104,295‌

Energy

-

Alternate

Sources

-

0

.27

%

Enphase

Energy

Inc

(c)

63,929‌

9,706‌

Environmental

Control

-

1

.27

%

Republic

Services

Inc

308,150‌

46,565‌

Food

-

1

.02

%

Simply

Good

Foods

Co/The

(c)

960,267‌

37,172‌

Healthcare

-

Products

-

4

.77

%

Abbott

Laboratories

489,682‌

54,516‌

Cooper

Cos

Inc/The

45,450‌

17,783‌

Edwards

Lifesciences

Corp

(c)

117,012‌

9,603‌

GE

HealthCare

Technologies

Inc

243,965‌

19,029‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Products

(continued)

Medtronic

PLC

274,118‌

$

24,057‌

Thermo

Fisher

Scientific

Inc

89,639‌

49,181‌

$

174,169‌

Healthcare

-

Services

-

2

.63

%

HCA

Healthcare

Inc

160,905‌

43,897‌

UnitedHealth

Group

Inc

102,929‌

52,120‌

$

96,017‌

Insurance

-

1

.82

%

Marsh

&

McLennan

Cos

Inc

235,284‌

44,332‌

Progressive

Corp/The

174,766‌

22,017‌

$

66,349‌

Internet

-

9

.50

%

Airbnb

Inc

(c)

196,183‌

29,857‌

Alphabet

Inc

-

A

Shares

(c)

1,033,400‌

137,153‌

Amazon.com

Inc

(c)

667,694‌

89,257‌

Meta

Platforms

Inc

(c)

249,583‌

79,517‌

Shopify

Inc

(c)

162,311‌

10,969‌

$

346,753‌

Leisure

Products

&

Services

-

0

.24

%

YETI

Holdings

Inc

(c)

208,984‌

8,903‌

Machinery

-

Construction

&

Mining

-

0

.74

%

Epiroc

AB

-

A

Shares

1,351,534‌

26,984‌

Machinery

-

Diversified

-

0

.88

%

Deere

&

Co

74,521‌

32,014‌

Media

-

3

.02

%

Charter

Communications

Inc

(c)

68,641‌

27,813‌

Comcast

Corp

-

Class

A

1,266,704‌

57,331‌

Nexstar

Media

Group

Inc

96,983‌

18,109‌

Walt

Disney

Co/The

(c)

79,842‌

7,097‌

$

110,350‌

Miscellaneous

Manufacturers

-

1

.40

%

Parker-Hannifin

Corp

124,636‌

51,102‌

Oil

&

Gas

-

4

.41

%

Chevron

Corp

336,381‌

55,052‌

Coterra

Energy

Inc

598,718‌

16,489‌

EOG

Resources

Inc

334,710‌

44,359‌

Marathon

Petroleum

Corp

339,802‌

45,200‌

$

161,100‌

Oil

&

Gas

Services

-

0

.22

%

Schlumberger

NV

137,232‌

8,006‌

Pharmaceuticals

-

5

.54

%

Bristol-Myers

Squibb

Co

293,084‌

18,227‌

CVS

Health

Corp

486,509‌

36,337‌

Eli

Lilly

&

Co

76,585‌

34,812‌

Merck

&

Co

Inc

249,883‌

26,650‌

Novartis

AG

ADR

311,131‌

32,638‌

Pfizer

Inc

794,819‌

28,661‌

Roche

Holding

AG

ADR

643,071‌

24,887‌

$

202,212‌

REITs

-

1

.95

%

American

Tower

Corp

65,465‌

12,459‌

Extra

Space

Storage

Inc

80,080‌

11,177‌

Host

Hotels

&

Resorts

Inc

2,031,341‌

37,377‌

Prologis

Inc

80,862‌

10,087‌

$

71,100‌

Retail

-

5

.58

%

Chipotle

Mexican

Grill

Inc

(c)

10,280‌

20,172‌

Costco

Wholesale

Corp

104,954‌

58,845‌

Home

Depot

Inc/The

81,605‌

27,243‌

Lululemon

Athletica

Inc

(c)

40,379‌

15,285‌

O'Reilly

Automotive

Inc

(c)

35,793‌

33,137‌

Starbucks

Corp

106,499‌

10,817‌

Tractor

Supply

Co

170,813‌

38,260‌

$

203,759‌

Schedule

of

Investments

Principal

Capital

Appreciation

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

163

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

-

7

.11

%

Broadcom

Inc

96,954‌

$

87,128‌

Lam

Research

Corp

59,749‌

42,929‌

Microchip

Technology

Inc

387,769‌

36,427‌

NVIDIA

Corp

199,070‌

93,023‌

$

259,507‌

Software

-

10

.33

%

Adobe

Inc

(c)

107,623‌

58,780‌

Fair

Isaac

Corp

(c)

55,005‌

46,093‌

Microsoft

Corp

621,718‌

208,848‌

Roper

Technologies

Inc

52,822‌

26,044‌

Salesforce

Inc

(c)

94,321‌

21,223‌

ServiceNow

Inc

(c)

27,551‌

16,062‌

$

377,050‌

Telecommunications

-

1

.08

%

T-Mobile

US

Inc

(c)

286,908‌

39,527‌

Transportation

-

1

.65

%

Expeditors

International

of

Washington

Inc

239,019‌

30,427‌

Union

Pacific

Corp

129,308‌

30,002‌

$

60,429‌

TOTAL

COMMON

STOCKS

$

3,629,191‌

Total

Investments

$

3,657,758‌

Other

Assets

and

Liabilities

-  (0.19)%

(

7,062‌

)

TOTAL

NET

ASSETS

-

100.00%

$

3,650,696‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

1-day

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary

Sector

Percent

Technology

24

.79‌

%

Consumer,

Non-cyclical

18

.03‌

%

Financial

14

.98‌

%

Communications

13

.60‌

%

Consumer,

Cyclical

10

.57‌

%

Industrial

7

.60‌

%

Energy

4

.90‌

%

Utilities

2

.86‌

%

Basic

Materials

2

.08‌

%

Money

Market

Funds

0

.78‌

%

Other

Assets

and

Liabilities

(

0

.19‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

530,111‌

$

501,544‌

$

28,567‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

93,232‌

154,459‌

247,691‌

—‌

$

93,232‌

$

684,570‌

$

749,235‌

$

28,567‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

1,975‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

221‌

—‌

—‌

—‌

$

2,196‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Principal

LifeTime

2015

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

164

INVESTMENT

COMPANIES

-

99

.98

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

55

.91

%

Blue

Chip

Fund

(a),(b)

293,376‌

$

10,406‌

Core

Fixed

Income

Fund

(a)

10,535,878‌

89,133‌

Diversified

International

Fund

(a)

1,203,945‌

15,748‌

Diversified

Real

Asset

Fund

(a)

577,362‌

6,466‌

International

Small

Company

Fund

(a)

240,434‌

2,412‌

LargeCap

Growth

Fund

I

(a),(b)

610,820‌

10,524‌

MidCap

Fund

(a),(b)

46,503‌

1,695‌

MidCap

Value

Fund

I

(a)

368,465‌

6,157‌

Origin

Emerging

Markets

Fund

(a)

416,597‌

4,212‌

SmallCap

Growth

Fund

I

(a),(b)

126,669‌

1,794‌

SmallCap

Value

Fund

II

(a)

155,988‌

1,873‌

$

150,420‌

Principal

Funds,

Inc.

Institutional

Class

-

44

.07

%

Equity

Income

Fund

(a)

255,167‌

9,505‌

High

Income

Fund

(a)

2,138,308‌

17,256‌

Inflation

Protection

Fund

(a)

2,079,781‌

16,285‌

LargeCap

S&P

500

Index

Fund

(a)

443,407‌

10,292‌

LargeCap

Value

Fund

III

(a)

516,671‌

9,372‌

MidCap

Growth

Fund

III

(a),(b)

381,067‌

4,569‌

Overseas

Fund

(a)

796,701‌

8,867‌

Short-Term

Income

Fund

(a)

3,647,717‌

42,423‌

$

118,569‌

TOTAL

INVESTMENT

COMPANIES

$

268,989‌

Total

Investments

$

268,989‌

Other

Assets

and

Liabilities

-  0.02%

48‌

TOTAL

NET

ASSETS

-

100.00%

$

269,037‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

61

.36‌

%

Domestic

Equity

Funds

24

.61‌

%

International

Equity

Funds

11

.61‌

%

Specialty

Funds

2

.40‌

%

Other

Assets

and

Liabilities

0

.02‌

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Principal

LifeTime

2015

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

165

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

10,345‌

$

352‌

$

2,489‌

$

10,406‌

Core

Fixed

Income

Fund

93,035‌

5,770‌

12,548‌

89,133‌

Diversified

International

Fund

11,780‌

3,584‌

2,330‌

15,748‌

Diversified

Real

Asset

Fund

6,769‌

862‌

903‌

6,466‌

Equity

Income

Fund

10,664‌

819‌

2,481‌

9,505‌

High

Income

Fund

18,011‌

1,672‌

2,878‌

17,256‌

Inflation

Protection

Fund

18,723‌

1,750‌

3,717‌

16,285‌

International

Small

Company

Fund

2,066‌

377‌

428‌

2,412‌

LargeCap

Growth

Fund

I

10,311‌

1,239‌

2,477‌

10,524‌

LargeCap

S&P

500

Index

Fund

10,582‌

552‌

2,365‌

10,292‌

LargeCap

Value

Fund

III

10,747‌

1,222‌

2,473‌

9,372‌

MidCap

Fund

1,694‌

109‌

331‌

1,695‌

MidCap

Growth

Fund

III

4,733‌

222‌

949‌

4,569‌

MidCap

Value

Fund

I

6,663‌

640‌

1,276‌

6,157‌

Origin

Emerging

Markets

Fund

2,865‌

1,259‌

556‌

4,212‌

Overseas

Fund

5,883‌

2,345‌

997‌

8,867‌

Short-Term

Income

Fund

42,188‌

5,108‌

5,755‌

42,423‌

SmallCap

Growth

Fund

I

1,978‌

94‌

492‌

1,794‌

SmallCap

Value

Fund

II

2,059‌

288‌

492‌

1,873‌

$

271,096‌

$

28,264‌

$

45,937‌

$

268,989‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

1,032‌

$

66‌

$

1,166‌

Core

Fixed

Income

Fund

2,199‌

(

668‌

)

—‌

3,544‌

Diversified

International

Fund

152‌

173‌

—‌

2,541‌

Diversified

Real

Asset

Fund

266‌

2‌

389‌

(

264‌

)

Equity

Income

Fund

170‌

586‌

363‌

(

83‌

)

High

Income

Fund

939‌

(

221‌

)

—‌

672‌

Inflation

Protection

Fund

1,017‌

53‌

—‌

(

524‌

)

International

Small

Company

Fund

31‌

—‌

—‌

397‌

LargeCap

Growth

Fund

I

—‌

155‌

954‌

1,296‌

LargeCap

S&P

500

Index

Fund

148‌

(

200‌

)

133‌

1,723‌

LargeCap

Value

Fund

III

167‌

293‌

770‌

(

417‌

)

MidCap

Fund

—‌

127‌

51‌

96‌

MidCap

Growth

Fund

III

—‌

70‌

83‌

493‌

MidCap

Value

Fund

I

97‌

53‌

347‌

77‌

Origin

Emerging

Markets

Fund

100‌

12‌

—‌

632‌

Overseas

Fund

178‌

39‌

378‌

1,597‌

Short-Term

Income

Fund

939‌

(

26‌

)

—‌

908‌

SmallCap

Growth

Fund

I

—‌

230‌

15‌

(

16‌

)

SmallCap

Value

Fund

II

55‌

69‌

154‌

(

51‌

)

$

6,458‌

$

1,779‌

$

3,703‌

$

13,787‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2020

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

166

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

58

.24

%

Blue

Chip

Fund

(a),(b)

3,386,589‌

$

120,122‌

Core

Fixed

Income

Fund

(a)

95,984,299‌

812,027‌

Diversified

International

Fund

(a)

14,048,331‌

183,752‌

Diversified

Real

Asset

Fund

(a)

5,252,718‌

58,831‌

International

Small

Company

Fund

(a)

2,873,967‌

28,826‌

LargeCap

Growth

Fund

I

(a),(b)

7,054,097‌

121,542‌

MidCap

Fund

(a),(b)

507,134‌

18,485‌

MidCap

Value

Fund

I

(a)

4,275,746‌

71,448‌

Origin

Emerging

Markets

Fund

(a)

4,732,161‌

47,842‌

SmallCap

Growth

Fund

I

(a),(b)

1,525,800‌

21,605‌

SmallCap

Value

Fund

II

(a)

1,815,979‌

21,810‌

$

1,506,290‌

Principal

Funds,

Inc.

Institutional

Class

-

41

.77

%

Equity

Income

Fund

(a)

2,940,073‌

109,518‌

High

Income

Fund

(a)

18,202,894‌

146,897‌

Inflation

Protection

Fund

(a)

17,696,058‌

138,560‌

LargeCap

S&P

500

Index

Fund

(a)

5,073,139‌

117,747‌

LargeCap

Value

Fund

III

(a)

5,950,102‌

107,935‌

MidCap

Growth

Fund

III

(a),(b)

4,507,157‌

54,041‌

Overseas

Fund

(a)

9,008,289‌

100,262‌

Short-Term

Income

Fund

(a)

26,261,269‌

305,419‌

$

1,080,379‌

TOTAL

INVESTMENT

COMPANIES

$

2,586,669‌

Total

Investments

$

2,586,669‌

Other

Assets

and

Liabilities

-  (0.01)%

(

240‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,586,429‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

54

.25‌

%

Domestic

Equity

Funds

29

.54‌

%

International

Equity

Funds

13

.94‌

%

Specialty

Funds

2

.28‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Principal

LifeTime

2020

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

167

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

120,566‌

$

850‌

$

26,857‌

$

120,122‌

Core

Fixed

Income

Fund

863,447‌

28,475‌

106,772‌

812,027‌

Diversified

International

Fund

139,183‌

35,190‌

22,629‌

183,752‌

Diversified

Real

Asset

Fund

63,199‌

6,215‌

8,036‌

58,831‌

Equity

Income

Fund

124,239‌

6,349‌

26,731‌

109,518‌

High

Income

Fund

155,956‌

10,201‌

23,115‌

146,897‌

Inflation

Protection

Fund

162,803‌

10,966‌

31,099‌

138,560‌

International

Small

Company

Fund

25,671‌

3,495‌

5,268‌

28,826‌

LargeCap

Growth

Fund

I

120,172‌

11,365‌

26,708‌

121,542‌

LargeCap

S&P

500

Index

Fund

123,265‌

3,384‌

26,461‌

117,747‌

LargeCap

Value

Fund

III

125,197‌

11,144‌

26,641‌

107,935‌

MidCap

Fund

19,753‌

618‌

4,388‌

18,485‌

MidCap

Growth

Fund

III

55,970‌

1,026‌

9,624‌

54,041‌

MidCap

Value

Fund

I

78,478‌

5,341‌

13,753‌

71,448‌

Origin

Emerging

Markets

Fund

33,034‌

13,218‌

5,800‌

47,842‌

Overseas

Fund

68,036‌

23,824‌

10,412‌

100,262‌

Short-Term

Income

Fund

306,360‌

30,925‌

38,308‌

305,419‌

SmallCap

Growth

Fund

I

23,491‌

200‌

4,664‌

21,605‌

SmallCap

Value

Fund

II

24,425‌

2,540‌

5,275‌

21,810‌

$

2,633,245‌

$

205,326‌

$

422,541‌

$

2,586,669‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

11,907‌

$

787‌

$

13,656‌

Core

Fixed

Income

Fund

20,464‌

(

9,325‌

)

—‌

36,202‌

Diversified

International

Fund

1,805‌

41‌

—‌

31,967‌

Diversified

Real

Asset

Fund

2,491‌

(

39‌

)

3,685‌

(

2,508‌

)

Equity

Income

Fund

1,999‌

9,527‌

4,287‌

(

3,866‌

)

High

Income

Fund

8,149‌

(

1,951‌

)

—‌

5,806‌

Inflation

Protection

Fund

8,913‌

132‌

—‌

(

4,242‌

)

International

Small

Company

Fund

388‌

(

40‌

)

—‌

4,968‌

LargeCap

Growth

Fund

I

—‌

2,431‌

11,301‌

14,282‌

LargeCap

S&P

500

Index

Fund

1,749‌

(

2,326‌

)

1,573‌

19,885‌

LargeCap

Value

Fund

III

1,971‌

3,949‌

9,110‌

(

5,714‌

)

MidCap

Fund

—‌

2,153‌

604‌

349‌

MidCap

Growth

Fund

III

—‌

842‌

995‌

5,827‌

MidCap

Value

Fund

I

1,155‌

291‌

4,142‌

1,091‌

Origin

Emerging

Markets

Fund

1,160‌

129‌

—‌

7,261‌

Overseas

Fund

2,068‌

281‌

4,397‌

18,533‌

Short-Term

Income

Fund

6,847‌

131‌

—‌

6,311‌

SmallCap

Growth

Fund

I

—‌

1,729‌

183‌

849‌

SmallCap

Value

Fund

II

663‌

868‌

1,859‌

(

748‌

)

$

59,822‌

$

20,730‌

$

42,923‌

$

149,909‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2025

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

168

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

60

.72

%

Blue

Chip

Fund

(a),(b)

2,477,262‌

$

87,869‌

Core

Fixed

Income

Fund

(a)

55,340,117‌

468,177‌

Diversified

International

Fund

(a)

10,254,570‌

134,130‌

Diversified

Real

Asset

Fund

(a)

3,684,086‌

41,262‌

International

Small

Company

Fund

(a)

2,098,929‌

21,052‌

LargeCap

Growth

Fund

I

(a),(b)

5,162,864‌

88,956‌

MidCap

Fund

(a),(b)

383,923‌

13,994‌

MidCap

Value

Fund

I

(a)

3,039,140‌

50,784‌

Origin

Emerging

Markets

Fund

(a)

3,460,395‌

34,985‌

SmallCap

Growth

Fund

I

(a),(b)

1,123,035‌

15,902‌

SmallCap

Value

Fund

II

(a)

1,375,855‌

16,524‌

$

973,635‌

Principal

Funds,

Inc.

Institutional

Class

-

39

.29

%

Equity

Income

Fund

(a)

2,150,983‌

80,124‌

High

Income

Fund

(a)

9,796,970‌

79,061‌

Inflation

Protection

Fund

(a)

9,444,574‌

73,951‌

LargeCap

S&P

500

Index

Fund

(a)

3,737,913‌

86,757‌

LargeCap

Value

Fund

III

(a)

4,357,160‌

79,039‌

MidCap

Growth

Fund

III

(a),(b)

3,184,711‌

38,185‌

Overseas

Fund

(a)

6,537,791‌

72,766‌

Short-Term

Income

Fund

(a)

10,330,213‌

120,140‌

$

630,023‌

TOTAL

INVESTMENT

COMPANIES

$

1,603,658‌

Total

Investments

$

1,603,658‌

Other

Assets

and

Liabilities

-  (0.01)%

(

96‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,603,562‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

46

.23‌

%

Domestic

Equity

Funds

34

.81‌

%

International

Equity

Funds

16

.40‌

%

Specialty

Funds

2

.57‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Principal

LifeTime

2025

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

169

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

81,795‌

$

3,054‌

$

15,274‌

$

87,869‌

Core

Fixed

Income

Fund

466,788‌

31,920‌

44,804‌

468,177‌

Diversified

International

Fund

100,199‌

24,965‌

14,046‌

134,130‌

Diversified

Real

Asset

Fund

41,124‌

5,360‌

3,552‌

41,262‌

Equity

Income

Fund

84,282‌

6,917‌

15,123‌

80,124‌

High

Income

Fund

79,045‌

7,595‌

9,575‌

79,061‌

Inflation

Protection

Fund

79,852‌

8,583‌

12,337‌

73,951‌

International

Small

Company

Fund

17,778‌

2,305‌

2,456‌

21,052‌

LargeCap

Growth

Fund

I

81,527‌

10,413‌

15,211‌

88,956‌

LargeCap

S&P

500

Index

Fund

83,596‌

4,745‌

14,266‌

86,757‌

LargeCap

Value

Fund

III

84,928‌

10,252‌

15,063‌

79,039‌

MidCap

Fund

13,328‌

919‌

2,068‌

13,994‌

MidCap

Growth

Fund

III

37,565‌

1,881‌

5,896‌

38,185‌

MidCap

Value

Fund

I

52,735‌

5,314‌

8,305‌

50,784‌

Origin

Emerging

Markets

Fund

23,223‌

9,595‌

3,095‌

34,985‌

Overseas

Fund

48,732‌

16,529‌

5,986‌

72,766‌

Short-Term

Income

Fund

106,527‌

22,087‌

10,758‌

120,140‌

SmallCap

Growth

Fund

I

16,305‌

838‌

3,110‌

15,902‌

SmallCap

Value

Fund

II

16,952‌

2,486‌

3,097‌

16,524‌

$

1,516,281‌

$

175,758‌

$

204,022‌

$

1,603,658‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

673‌

)

$

550‌

$

18,967‌

Core

Fixed

Income

Fund

11,386‌

(

178‌

)

—‌

14,451‌

Diversified

International

Fund

1,271‌

362‌

—‌

22,650‌

Diversified

Real

Asset

Fund

1,665‌

—‌

2,429‌

(

1,670‌

)

Equity

Income

Fund

1,420‌

(

98‌

)

2,992‌

4,146‌

High

Income

Fund

4,261‌

(

75‌

)

—‌

2,071‌

Inflation

Protection

Fund

4,500‌

(

17‌

)

—‌

(

2,130‌

)

International

Small

Company

Fund

262‌

(

13‌

)

—‌

3,438‌

LargeCap

Growth

Fund

I

—‌

809‌

7,909‌

11,418‌

LargeCap

S&P

500

Index

Fund

1,224‌

(

632‌

)

1,099‌

13,314‌

LargeCap

Value

Fund

III

1,379‌

(

110‌

)

6,369‌

(

968‌

)

MidCap

Fund

—‌

609‌

413‌

1,206‌

MidCap

Growth

Fund

III

—‌

401‌

675‌

4,234‌

MidCap

Value

Fund

I

786‌

49‌

2,815‌

991‌

Origin

Emerging

Markets

Fund

798‌

39‌

—‌

5,223‌

Overseas

Fund

1,446‌

78‌

3,061‌

13,413‌

Short-Term

Income

Fund

2,560‌

8‌

—‌

2,276‌

SmallCap

Growth

Fund

I

—‌

157‌

129‌

1,712‌

SmallCap

Value

Fund

II

467‌

134‌

1,309‌

49‌

$

33,425‌

$

850‌

$

29,750‌

$

114,791‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2030

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

170

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

69

.41

%

Blue

Chip

Fund

(a),(b)

9,819,159‌

$

348,285‌

Core

Fixed

Income

Fund

(a)

209,031,301‌

1,768,405‌

Diversified

International

Fund

(a)

40,390,200‌

528,304‌

International

Small

Company

Fund

(a)

8,574,672‌

86,004‌

LargeCap

Growth

Fund

I

(a),(b)

20,471,950‌

352,732‌

MidCap

Fund

(a),(b)

1,514,117‌

55,190‌

MidCap

Value

Fund

I

(a)

12,103,793‌

202,254‌

Origin

Emerging

Markets

Fund

(a)

13,672,914‌

138,233‌

Real

Estate

Securities

Fund

(a)

4,626,793‌

124,276‌

SmallCap

Growth

Fund

I

(a),(b)

4,438,176‌

62,845‌

SmallCap

Value

Fund

II

(a)

5,563,074‌

66,812‌

$

3,733,340‌

Principal

Funds,

Inc.

Institutional

Class

-

30

.60

%

Equity

Income

Fund

(a)

8,516,457‌

317,238‌

High

Income

Fund

(a)

30,171,891‌

243,487‌

LargeCap

S&P

500

Index

Fund

(a)

14,406,698‌

334,380‌

LargeCap

Value

Fund

III

(a)

17,262,920‌

313,149‌

MidCap

Growth

Fund

III

(a),(b)

12,604,821‌

151,132‌

Overseas

Fund

(a)

25,747,986‌

286,575‌

$

1,645,961‌

TOTAL

INVESTMENT

COMPANIES

$

5,379,301‌

Total

Investments

$

5,379,301‌

Other

Assets

and

Liabilities

-  (0.01)%

(

406‌

)

TOTAL

NET

ASSETS

-

100.00%

$

5,378,895‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

43

.28‌

%

Fixed

Income

Funds

37

.41‌

%

International

Equity

Funds

19

.32‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

319,075‌

$

4,641‌

$

47,667‌

$

348,285‌

Core

Fixed

Income

Fund

1,718,416‌

108,002‌

109,926‌

1,768,405‌

Diversified

International

Fund

390,943‌

84,356‌

37,051‌

528,304‌

Equity

Income

Fund

328,766‌

19,782‌

47,159‌

317,238‌

High

Income

Fund

242,479‌

16,457‌

21,571‌

243,487‌

International

Small

Company

Fund

72,072‌

6,835‌

6,786‌

86,004‌

LargeCap

Growth

Fund

I

318,030‌

33,433‌

47,436‌

352,732‌

LargeCap

S&P

500

Index

Fund

326,078‌

11,559‌

52,403‌

334,380‌

LargeCap

Value

Fund

III

331,292‌

32,794‌

46,824‌

313,149‌

MidCap

Fund

52,195‌

2,131‌

6,275‌

55,190‌

MidCap

Growth

Fund

III

147,208‌

3,862‌

18,215‌

151,132‌

MidCap

Value

Fund

I

206,605‌

15,849‌

24,341‌

202,254‌

Origin

Emerging

Markets

Fund

91,634‌

34,186‌

8,350‌

138,233‌

Overseas

Fund

190,082‌

58,776‌

15,059‌

286,575‌

Real

Estate

Securities

Fund

121,874‌

4,429‌

7,814‌

124,276‌

SmallCap

Growth

Fund

I

63,738‌

1,231‌

9,471‌

62,845‌

SmallCap

Value

Fund

II

66,258‌

7,661‌

8,002‌

66,812‌

$

4,986,745‌

$

445,984‌

$

514,350‌

$

5,379,301‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

1,642‌

)

$

2,152‌

$

73,878‌

Core

Fixed

Income

Fund

42,569‌

(

252‌

)

—‌

52,165‌

Diversified

International

Fund

4,940‌

(

120‌

)

—‌

90,176‌

Equity

Income

Fund

5,591‌

(

456‌

)

11,702‌

16,305‌

High

Income

Fund

13,143‌

(

181‌

)

—‌

6,303‌

International

Small

Company

Fund

1,061‌

(

22‌

)

—‌

13,905‌

LargeCap

Growth

Fund

I

—‌

4,152‌

30,944‌

44,553‌

LargeCap

S&P

500

Index

Fund

4,783‌

(

3,490‌

)

4,299‌

52,636‌

LargeCap

Value

Fund

III

5,392‌

1,255‌

24,913‌

(

5,368‌

)

MidCap

Fund

—‌

(

787‌

)

1,618‌

7,926‌

MidCap

Growth

Fund

III

—‌

1,437‌

2,649‌

16,840‌

MidCap

Value

Fund

I

3,080‌

(

612‌

)

11,044‌

4,753‌

Origin

Emerging

Markets

Fund

3,136‌

121‌

—‌

20,642‌

Overseas

Fund

5,619‌

285‌

11,916‌

52,491‌

Real

Estate

Securities

Fund

2,147‌

(

851‌

)

1,213‌

6,638‌

SmallCap

Growth

Fund

I

—‌

2,334‌

504‌

5,013‌

SmallCap

Value

Fund

II

1,830‌

208‌

5,125‌

687‌

$

93,291‌

$

1,379‌

$

108,079‌

$

459,543‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2035

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

171

INVESTMENT

COMPANIES

-

100

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

66

.33

%

Blue

Chip

Fund

(a),(b)

3,708,472‌

$

131,540‌

Core

Fixed

Income

Fund

(a)

50,941,412‌

430,964‌

Diversified

International

Fund

(a)

15,492,708‌

202,645‌

International

Small

Company

Fund

(a)

3,176,077‌

31,856‌

LargeCap

Growth

Fund

I

(a),(b)

7,734,669‌

133,268‌

MidCap

Fund

(a),(b)

709,606‌

25,865‌

MidCap

Value

Fund

I

(a)

4,693,367‌

78,426‌

Origin

Emerging

Markets

Fund

(a)

5,199,493‌

52,567‌

Real

Estate

Securities

Fund

(a)

1,524,401‌

40,946‌

SmallCap

Growth

Fund

I

(a),(b)

1,759,491‌

24,914‌

SmallCap

Value

Fund

II

(a)

2,183,252‌

26,221‌

$

1,179,212‌

Principal

Funds,

Inc.

Institutional

Class

-

33

.67

%

Equity

Income

Fund

(a)

3,220,383‌

119,959‌

High

Income

Fund

(a)

8,700,923‌

70,216‌

LargeCap

S&P

500

Index

Fund

(a)

5,509,801‌

127,883‌

LargeCap

Value

Fund

III

(a)

6,533,054‌

118,510‌

MidCap

Growth

Fund

III

(a),(b)

4,488,422‌

53,816‌

Overseas

Fund

(a)

9,731,377‌

108,310‌

$

598,694‌

TOTAL

INVESTMENT

COMPANIES

$

1,777,906‌

Total

Investments

$

1,777,906‌

Other

Assets

and

Liabilities

-  0.00%

(

85‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,777,821‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

49

.57‌

%

Fixed

Income

Funds

28

.19‌

%

International

Equity

Funds

22

.24‌

%

Other

Assets

and

Liabilities

0

.00‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

112,828‌

$

7,913‌

$

15,852‌

$

131,540‌

Core

Fixed

Income

Fund

380,023‌

57,736‌

17,934‌

430,964‌

Diversified

International

Fund

140,514‌

39,844‌

10,946‌

202,645‌

Equity

Income

Fund

116,253‌

13,385‌

15,635‌

119,959‌

High

Income

Fund

63,194‌

9,918‌

4,559‌

70,216‌

International

Small

Company

Fund

25,097‌

4,030‌

2,209‌

31,856‌

LargeCap

Growth

Fund

I

112,458‌

18,246‌

15,783‌

133,268‌

LargeCap

S&P

500

Index

Fund

115,311‌

10,296‌

16,124‌

127,883‌

LargeCap

Value

Fund

III

117,147‌

18,010‌

15,525‌

118,510‌

MidCap

Fund

22,967‌

2,180‌

2,548‌

25,865‌

MidCap

Growth

Fund

III

48,615‌

4,361‌

5,504‌

53,816‌

MidCap

Value

Fund

I

74,607‌

10,044‌

7,966‌

78,426‌

Origin

Emerging

Markets

Fund

32,265‌

15,383‌

2,659‌

52,567‌

Overseas

Fund

68,597‌

25,181‌

4,936‌

108,310‌

Real

Estate

Securities

Fund

37,163‌

3,662‌

1,729‌

40,946‌

SmallCap

Growth

Fund

I

23,133‌

2,202‌

3,268‌

24,914‌

SmallCap

Value

Fund

II

24,048‌

4,543‌

2,822‌

26,221‌

$

1,514,220‌

$

246,934‌

$

145,999‌

$

1,777,906‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

198‌

)

$

772‌

$

26,849‌

Core

Fixed

Income

Fund

9,850‌

8‌

—‌

11,131‌

Diversified

International

Fund

1,794‌

(

4‌

)

—‌

33,237‌

Equity

Income

Fund

2,048‌

(

62‌

)

4,196‌

6,018‌

High

Income

Fund

3,597‌

13‌

—‌

1,650‌

International

Small

Company

Fund

373‌

(

2‌

)

—‌

4,940‌

LargeCap

Growth

Fund

I

—‌

(

21‌

)

11,104‌

18,368‌

LargeCap

S&P

500

Index

Fund

1,717‌

(

169‌

)

1,542‌

18,569‌

LargeCap

Value

Fund

III

1,935‌

(

76‌

)

8,934‌

(

1,046‌

)

MidCap

Fund

—‌

89‌

721‌

3,177‌

MidCap

Growth

Fund

III

—‌

(

28‌

)

886‌

6,372‌

MidCap

Value

Fund

I

1,126‌

(

63‌

)

4,036‌

1,804‌

Origin

Emerging

Markets

Fund

1,116‌

4‌

—‌

7,574‌

Overseas

Fund

2,045‌

(

17‌

)

4,325‌

19,485‌

Real

Estate

Securities

Fund

681‌

(

1‌

)

376‌

1,851‌

SmallCap

Growth

Fund

I

—‌

168‌

186‌

2,679‌

SmallCap

Value

Fund

II

674‌

(

1‌

)

1,888‌

453‌

$

26,956‌

$

(

360‌

)

$

38,966‌

$

163,111‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2040

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

172

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

62

.59

%

Blue

Chip

Fund

(a),(b)

10,543,076‌

$

373,963‌

Core

Fixed

Income

Fund

(a)

73,571,377‌

622,414‌

Diversified

International

Fund

(a)

43,659,038‌

571,060‌

International

Small

Company

Fund

(a)

9,138,552‌

91,660‌

LargeCap

Growth

Fund

I

(a),(b)

21,985,023‌

378,802‌

MidCap

Fund

(a),(b)

1,971,322‌

71,855‌

MidCap

Value

Fund

I

(a)

12,989,514‌

217,055‌

Origin

Emerging

Markets

Fund

(a)

14,833,508‌

149,967‌

Real

Estate

Securities

Fund

(a)

3,706,204‌

99,548‌

SmallCap

Growth

Fund

I

(a),(b)

4,852,270‌

68,708‌

SmallCap

Value

Fund

II

(a)

5,930,726‌

71,228‌

$

2,716,260‌

Principal

Funds,

Inc.

Institutional

Class

-

37

.42

%

Equity

Income

Fund

(a)

9,146,340‌

340,701‌

High

Income

Fund

(a)

15,283,119‌

123,335‌

LargeCap

S&P

500

Index

Fund

(a)

15,818,906‌

367,157‌

LargeCap

Value

Fund

III

(a)

18,549,816‌

336,494‌

MidCap

Growth

Fund

III

(a),(b)

12,477,849‌

149,609‌

Overseas

Fund

(a)

27,520,706‌

306,305‌

$

1,623,601‌

TOTAL

INVESTMENT

COMPANIES

$

4,339,861‌

Total

Investments

$

4,339,861‌

Other

Assets

and

Liabilities

-  (0.01)%

(

266‌

)

TOTAL

NET

ASSETS

-

100.00%

$

4,339,595‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

57

.04‌

%

International

Equity

Funds

25

.79‌

%

Fixed

Income

Funds

17

.18‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

329,949‌

$

9,351‌

$

42,031‌

$

373,963‌

Core

Fixed

Income

Fund

568,208‌

65,092‌

27,652‌

622,414‌

Diversified

International

Fund

416,387‌

87,623‌

28,909‌

571,060‌

Equity

Income

Fund

339,942‌

25,223‌

41,372‌

340,701‌

High

Income

Fund

116,421‌

12,196‌

8,284‌

123,335‌

International

Small

Company

Fund

75,648‌

6,663‌

5,211‌

91,660‌

LargeCap

Growth

Fund

I

328,868‌

39,504‌

41,876‌

378,802‌

LargeCap

S&P

500

Index

Fund

337,168‌

16,471‌

39,653‌

367,157‌

LargeCap

Value

Fund

III

342,546‌

38,821‌

41,040‌

336,494‌

MidCap

Fund

66,360‌

3,518‌

7,234‌

71,855‌

MidCap

Growth

Fund

III

140,336‌

5,880‌

14,466‌

149,609‌

MidCap

Value

Fund

I

215,374‌

19,546‌

22,511‌

217,055‌

Origin

Emerging

Markets

Fund

98,093‌

36,090‌

6,543‌

149,967‌

Overseas

Fund

202,456‌

60,528‌

12,832‌

306,305‌

Real

Estate

Securities

Fund

94,570‌

4,839‌

4,446‌

99,548‌

SmallCap

Growth

Fund

I

66,311‌

2,451‌

7,980‌

68,708‌

SmallCap

Value

Fund

II

68,922‌

9,181‌

7,916‌

71,228‌

$

3,807,559‌

$

442,977‌

$

359,956‌

$

4,339,861‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

370‌

)

$

2,254‌

$

77,064‌

Core

Fixed

Income

Fund

14,456‌

34‌

—‌

16,732‌

Diversified

International

Fund

5,173‌

(

106‌

)

—‌

96,065‌

Equity

Income

Fund

5,915‌

(

263‌

)

12,255‌

17,171‌

High

Income

Fund

6,472‌

42‌

—‌

2,960‌

International

Small

Company

Fund

1,095‌

(

4‌

)

—‌

14,564‌

LargeCap

Growth

Fund

I

—‌

1,403‌

32,408‌

50,903‌

LargeCap

S&P

500

Index

Fund

5,007‌

(

1,396‌

)

4,502‌

54,567‌

LargeCap

Value

Fund

III

5,644‌

(

415‌

)

26,080‌

(

3,418‌

)

MidCap

Fund

—‌

490‌

2,064‌

8,721‌

MidCap

Growth

Fund

III

—‌

48‌

2,531‌

17,811‌

MidCap

Value

Fund

I

3,218‌

(

207‌

)

11,539‌

4,853‌

Origin

Emerging

Markets

Fund

3,301‌

51‌

—‌

22,276‌

Overseas

Fund

5,882‌

187‌

12,464‌

55,966‌

Real

Estate

Securities

Fund

1,691‌

13‌

945‌

4,572‌

SmallCap

Growth

Fund

I

—‌

1,197‌

526‌

6,729‌

SmallCap

Value

Fund

II

1,909‌

37‌

5,347‌

1,004‌

$

59,763‌

$

741‌

$

112,915‌

$

448,540‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2045

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

173

INVESTMENT

COMPANIES

-

100

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

60

.43

%

Blue

Chip

Fund

(a),(b)

3,801,385‌

$

134,835‌

Core

Fixed

Income

Fund

(a)

12,750,472‌

107,869‌

Diversified

International

Fund

(a)

15,932,194‌

208,393‌

International

Small

Company

Fund

(a)

3,343,380‌

33,534‌

LargeCap

Growth

Fund

I

(a),(b)

7,930,643‌

136,645‌

MidCap

Fund

(a),(b)

721,016‌

26,281‌

MidCap

Value

Fund

I

(a)

4,789,217‌

80,028‌

Origin

Emerging

Markets

Fund

(a)

5,357,305‌

54,162‌

Real

Estate

Securities

Fund

(a)

1,216,207‌

32,667‌

SmallCap

Growth

Fund

I

(a),(b)

1,827,160‌

25,873‌

SmallCap

Value

Fund

II

(a)

2,225,472‌

26,728‌

$

867,015‌

Principal

Funds,

Inc.

Institutional

Class

-

39

.57

%

Equity

Income

Fund

(a)

3,300,255‌

122,934‌

High

Income

Fund

(a)

3,422,742‌

27,622‌

LargeCap

S&P

500

Index

Fund

(a)

5,664,589‌

131,475‌

LargeCap

Value

Fund

III

(a)

6,699,279‌

121,525‌

MidCap

Growth

Fund

III

(a),(b)

4,593,736‌

55,079‌

Overseas

Fund

(a)

9,797,840‌

109,050‌

$

567,685‌

TOTAL

INVESTMENT

COMPANIES

$

1,434,700‌

Total

Investments

$

1,434,700‌

Other

Assets

and

Liabilities

-  0.00%

(

65‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,434,635‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

62

.31‌

%

International

Equity

Funds

28

.24‌

%

Fixed

Income

Funds

9

.45‌

%

Other

Assets

and

Liabilities

0

.00‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

111,965‌

$

9,078‌

$

13,301‌

$

134,835‌

Core

Fixed

Income

Fund

90,062‌

18,753‌

3,500‌

107,869‌

Diversified

International

Fund

141,653‌

40,488‌

7,416‌

208,393‌

Equity

Income

Fund

115,348‌

14,532‌

13,071‌

122,934‌

High

Income

Fund

23,480‌

4,895‌

1,380‌

27,622‌

International

Small

Company

Fund

25,761‌

4,138‌

1,450‌

33,534‌

LargeCap

Growth

Fund

I

111,597‌

19,387‌

13,248‌

136,645‌

LargeCap

S&P

500

Index

Fund

114,405‌

11,434‌

13,179‌

131,475‌

LargeCap

Value

Fund

III

116,229‌

19,148‌

12,955‌

121,525‌

MidCap

Fund

22,822‌

2,447‌

2,295‌

26,281‌

MidCap

Growth

Fund

III

48,319‌

4,863‌

4,556‌

55,079‌

MidCap

Value

Fund

I

74,117‌

10,829‌

6,788‌

80,028‌

Origin

Emerging

Markets

Fund

32,895‌

15,645‌

2,138‌

54,162‌

Overseas

Fund

67,975‌

24,959‌

3,256‌

109,050‌

Real

Estate

Securities

Fund

29,096‌

3,176‌

1,075‌

32,667‌

SmallCap

Growth

Fund

I

22,969‌

2,480‌

2,511‌

25,873‌

SmallCap

Value

Fund

II

23,870‌

4,792‌

2,464‌

26,728‌

$

1,172,563‌

$

211,044‌

$

104,583‌

$

1,434,700‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

72‌

$

767‌

$

27,021‌

Core

Fixed

Income

Fund

2,395‌

—‌

—‌

2,554‌

Diversified

International

Fund

1,792‌

9‌

—‌

33,659‌

Equity

Income

Fund

2,067‌

(

36‌

)

4,168‌

6,161‌

High

Income

Fund

1,377‌

1‌

—‌

626‌

International

Small

Company

Fund

380‌

—‌

—‌

5,085‌

LargeCap

Growth

Fund

I

—‌

(

61‌

)

11,076‌

18,970‌

LargeCap

S&P

500

Index

Fund

1,711‌

(

18‌

)

1,538‌

18,833‌

LargeCap

Value

Fund

III

1,928‌

(

37‌

)

8,908‌

(

860‌

)

MidCap

Fund

—‌

47‌

713‌

3,260‌

MidCap

Growth

Fund

III

—‌

(

1‌

)

880‌

6,454‌

MidCap

Value

Fund

I

1,118‌

(

7‌

)

4,009‌

1,877‌

Origin

Emerging

Markets

Fund

1,127‌

(

2‌

)

—‌

7,762‌

Overseas

Fund

2,007‌

—‌

4,241‌

19,372‌

Real

Estate

Securities

Fund

539‌

—‌

294‌

1,470‌

SmallCap

Growth

Fund

I

—‌

27‌

185‌

2,908‌

SmallCap

Value

Fund

II

669‌

(

2‌

)

1,874‌

532‌

$

17,110‌

$

(

8‌

)

$

38,653‌

$

155,684‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2050

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

174

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

58

.85

%

Blue

Chip

Fund

(a),(b)

8,309,820‌

$

294,749‌

Core

Fixed

Income

Fund

(a)

10,170,131‌

86,039‌

Diversified

International

Fund

(a)

34,492,988‌

451,168‌

International

Small

Company

Fund

(a)

7,207,560‌

72,292‌

LargeCap

Growth

Fund

I

(a),(b)

17,330,920‌

298,612‌

MidCap

Fund

(a),(b)

1,569,438‌

57,206‌

MidCap

Value

Fund

I

(a)

10,355,372‌

173,038‌

Origin

Emerging

Markets

Fund

(a)

11,744,579‌

118,738‌

Real

Estate

Securities

Fund

(a)

2,491,134‌

66,912‌

SmallCap

Growth

Fund

I

(a),(b)

3,915,916‌

55,450‌

SmallCap

Value

Fund

II

(a)

4,781,092‌

57,421‌

$

1,731,625‌

Principal

Funds,

Inc.

Institutional

Class

-

41

.16

%

Equity

Income

Fund

(a)

7,212,014‌

268,648‌

High

Income

Fund

(a)

3,614,628‌

29,170‌

LargeCap

S&P

500

Index

Fund

(a)

12,388,979‌

287,548‌

LargeCap

Value

Fund

III

(a)

14,632,816‌

265,439‌

MidCap

Growth

Fund

III

(a),(b)

9,894,074‌

118,630‌

Overseas

Fund

(a)

21,690,833‌

241,419‌

$

1,210,854‌

TOTAL

INVESTMENT

COMPANIES

$

2,942,479‌

Total

Investments

$

2,942,479‌

Other

Assets

and

Liabilities

-  (0.01)%

(

181‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,942,298‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

66

.06‌

%

International

Equity

Funds

30

.04‌

%

Fixed

Income

Funds

3

.91‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

252,340‌

$

10,930‌

$

28,368‌

$

294,749‌

Core

Fixed

Income

Fund

81,230‌

5,900‌

3,548‌

86,039‌

Diversified

International

Fund

318,120‌

74,342‌

15,651‌

451,168‌

Equity

Income

Fund

259,937‌

23,148‌

27,857‌

268,648‌

High

Income

Fund

27,510‌

2,615‌

1,672‌

29,170‌

International

Small

Company

Fund

57,625‌

6,313‌

2,869‌

72,292‌

LargeCap

Growth

Fund

I

251,511‌

34,051‌

28,248‌

298,612‌

LargeCap

S&P

500

Index

Fund

257,832‌

16,495‌

28,222‌

287,548‌

LargeCap

Value

Fund

III

261,928‌

33,520‌

27,602‌

265,439‌

MidCap

Fund

51,048‌

3,499‌

4,608‌

57,206‌

MidCap

Growth

Fund

III

108,120‌

6,364‌

9,929‌

118,630‌

MidCap

Value

Fund

I

165,803‌

17,667‌

14,377‌

173,038‌

Origin

Emerging

Markets

Fund

75,057‌

30,111‌

3,808‌

118,738‌

Overseas

Fund

155,010‌

49,620‌

6,728‌

241,419‌

Real

Estate

Securities

Fund

62,246‌

4,198‌

2,608‌

66,912‌

SmallCap

Growth

Fund

I

51,302‌

3,004‌

5,218‌

55,450‌

SmallCap

Value

Fund

II

53,306‌

8,232‌

5,164‌

57,421‌

$

2,489,925‌

$

330,009‌

$

216,477‌

$

2,942,479‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

410‌

)

$

1,724‌

$

60,257‌

Core

Fixed

Income

Fund

2,045‌

4‌

—‌

2,453‌

Diversified

International

Fund

3,976‌

116‌

—‌

74,241‌

Equity

Income

Fund

4,582‌

(

153‌

)

9,374‌

13,573‌

High

Income

Fund

1,537‌

(

3‌

)

—‌

720‌

International

Small

Company

Fund

839‌

(

2‌

)

—‌

11,225‌

LargeCap

Growth

Fund

I

—‌

189‌

24,845‌

41,109‌

LargeCap

S&P

500

Index

Fund

3,839‌

(

485‌

)

3,450‌

41,928‌

LargeCap

Value

Fund

III

4,327‌

(

251‌

)

19,987‌

(

2,156‌

)

MidCap

Fund

—‌

205‌

1,590‌

7,062‌

MidCap

Growth

Fund

III

—‌

(

92‌

)

1,957‌

14,167‌

MidCap

Value

Fund

I

2,486‌

(

7‌

)

8,913‌

3,952‌

Origin

Emerging

Markets

Fund

2,541‌

12‌

—‌

17,366‌

Overseas

Fund

4,528‌

(

7‌

)

9,589‌

43,524‌

Real

Estate

Securities

Fund

1,126‌

3‌

624‌

3,073‌

SmallCap

Growth

Fund

I

—‌

348‌

409‌

6,014‌

SmallCap

Value

Fund

II

1,483‌

(

13‌

)

4,154‌

1,060‌

$

33,309‌

$

(

546‌

)

$

86,616‌

$

339,568‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2055

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

175

INVESTMENT

COMPANIES

-

100

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

58

.98

%

Blue

Chip

Fund

(a),(b)

2,560,204‌

$

90,810‌

Core

Fixed

Income

Fund

(a)

3,173,353‌

26,847‌

Diversified

International

Fund

(a)

10,688,759‌

139,809‌

International

Small

Company

Fund

(a)

2,239,806‌

22,465‌

LargeCap

Growth

Fund

I

(a),(b)

5,341,936‌

92,042‌

MidCap

Fund

(a),(b)

483,891‌

17,638‌

MidCap

Value

Fund

I

(a)

3,205,490‌

53,564‌

Origin

Emerging

Markets

Fund

(a)

3,621,637‌

36,615‌

Real

Estate

Securities

Fund

(a)

767,586‌

20,617‌

SmallCap

Growth

Fund

I

(a),(b)

1,246,145‌

17,645‌

SmallCap

Value

Fund

II

(a)

1,516,577‌

18,214‌

$

536,266‌

Principal

Funds,

Inc.

Institutional

Class

-

41

.02

%

Equity

Income

Fund

(a)

2,223,166‌

82,813‌

High

Income

Fund

(a)

1,126,657‌

9,092‌

LargeCap

S&P

500

Index

Fund

(a)

3,816,875‌

88,590‌

LargeCap

Value

Fund

III

(a)

4,517,748‌

81,952‌

MidCap

Growth

Fund

III

(a),(b)

3,076,485‌

36,887‌

Overseas

Fund

(a)

6,619,811‌

73,678‌

$

373,012‌

TOTAL

INVESTMENT

COMPANIES

$

909,278‌

Total

Investments

$

909,278‌

Other

Assets

and

Liabilities

-  0.00%

(

37‌

)

TOTAL

NET

ASSETS

-

100.00%

$

909,241‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

66

.07‌

%

International

Equity

Funds

29

.98‌

%

Fixed

Income

Funds

3

.95‌

%

Other

Assets

and

Liabilities

0

.00‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

71,771‌

$

9,461‌

$

8,366‌

$

90,810‌

Core

Fixed

Income

Fund

23,218‌

4,000‌

1,060‌

26,847‌

Diversified

International

Fund

90,550‌

31,995‌

4,677‌

139,809‌

Equity

Income

Fund

73,925‌

12,973‌

8,201‌

82,813‌

High

Income

Fund

7,860‌

1,509‌

490‌

9,092‌

International

Small

Company

Fund

16,402‌

3,633‌

858‌

22,465‌

LargeCap

Growth

Fund

I

71,535‌

16,140‌

8,338‌

92,042‌

LargeCap

S&P

500

Index

Fund

73,330‌

11,068‌

8,320‌

88,590‌

LargeCap

Value

Fund

III

74,492‌

15,980‌

8,131‌

81,952‌

MidCap

Fund

14,522‌

2,317‌

1,381‌

17,638‌

MidCap

Growth

Fund

III

30,763‌

4,857‌

2,986‌

36,887‌

MidCap

Value

Fund

I

47,169‌

9,394‌

4,315‌

53,564‌

Origin

Emerging

Markets

Fund

21,365‌

11,254‌

1,139‌

36,615‌

Overseas

Fund

44,110‌

18,803‌

2,012‌

73,678‌

Real

Estate

Securities

Fund

17,583‌

2,897‌

780‌

20,617‌

SmallCap

Growth

Fund

I

14,612‌

2,646‌

1,582‌

17,645‌

SmallCap

Value

Fund

II

15,180‌

4,163‌

1,562‌

18,214‌

$

708,387‌

$

163,090‌

$

64,198‌

$

909,278‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

26‌

$

497‌

$

17,918‌

Core

Fixed

Income

Fund

612‌

(

1‌

)

—‌

690‌

Diversified

International

Fund

1,154‌

1‌

—‌

21,940‌

Equity

Income

Fund

1,358‌

(

3‌

)

2,696‌

4,119‌

High

Income

Fund

460‌

—‌

—‌

213‌

International

Small

Company

Fund

243‌

—‌

—‌

3,288‌

LargeCap

Growth

Fund

I

—‌

4‌

7,176‌

12,701‌

LargeCap

S&P

500

Index

Fund

1,108‌

(

7‌

)

996‌

12,519‌

LargeCap

Value

Fund

III

1,249‌

18‌

5,767‌

(

407‌

)

MidCap

Fund

—‌

9‌

458‌

2,171‌

MidCap

Growth

Fund

III

—‌

—‌

566‌

4,253‌

MidCap

Value

Fund

I

718‌

7‌

2,573‌

1,309‌

Origin

Emerging

Markets

Fund

738‌

—‌

—‌

5,135‌

Overseas

Fund

1,310‌

(

1‌

)

2,763‌

12,778‌

Real

Estate

Securities

Fund

334‌

1‌

180‌

916‌

SmallCap

Growth

Fund

I

—‌

—‌

119‌

1,969‌

SmallCap

Value

Fund

II

430‌

(

2‌

)

1,205‌

435‌

$

9,714‌

$

52‌

$

24,996‌

$

101,947‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2060

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

176

INVESTMENT

COMPANIES

-

100

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

59

.00

%

Blue

Chip

Fund

(a),(b)

2,433,181‌

$

86,305‌

Core

Fixed

Income

Fund

(a)

3,019,517‌

25,545‌

Diversified

International

Fund

(a)

10,168,745‌

133,007‌

International

Small

Company

Fund

(a)

2,132,264‌

21,386‌

LargeCap

Growth

Fund

I

(a),(b)

5,077,151‌

87,479‌

MidCap

Fund

(a),(b)

459,935‌

16,765‌

MidCap

Value

Fund

I

(a)

3,048,831‌

50,946‌

Origin

Emerging

Markets

Fund

(a)

3,442,825‌

34,807‌

Real

Estate

Securities

Fund

(a)

729,706‌

19,600‌

SmallCap

Growth

Fund

I

(a),(b)

1,190,519‌

16,858‌

SmallCap

Value

Fund

II

(a)

1,448,047‌

17,391‌

$

510,089‌

Principal

Funds,

Inc.

Institutional

Class

-

41

.00

%

Equity

Income

Fund

(a)

2,113,759‌

78,738‌

High

Income

Fund

(a)

1,071,893‌

8,650‌

LargeCap

S&P

500

Index

Fund

(a)

3,627,446‌

84,193‌

LargeCap

Value

Fund

III

(a)

4,295,122‌

77,914‌

MidCap

Growth

Fund

III

(a),(b)

2,928,453‌

35,112‌

Overseas

Fund

(a)

6,282,940‌

69,929‌

$

354,536‌

TOTAL

INVESTMENT

COMPANIES

$

864,625‌

Total

Investments

$

864,625‌

Other

Assets

and

Liabilities

-  0.00%

(

26‌

)

TOTAL

NET

ASSETS

-

100.00%

$

864,599‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

66

.07‌

%

International

Equity

Funds

29

.97‌

%

Fixed

Income

Funds

3

.96‌

%

Other

Assets

and

Liabilities

0

.00‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

67,425‌

$

9,860‌

$

7,972‌

$

86,305‌

Core

Fixed

Income

Fund

21,813‌

4,117‌

1,030‌

25,545‌

Diversified

International

Fund

85,132‌

31,677‌

4,540‌

133,007‌

Equity

Income

Fund

69,445‌

13,189‌

7,816‌

78,738‌

High

Income

Fund

7,389‌

1,533‌

473‌

8,650‌

International

Small

Company

Fund

15,421‌

3,693‌

834‌

21,386‌

LargeCap

Growth

Fund

I

67,203‌

16,140‌

7,944‌

87,479‌

LargeCap

S&P

500

Index

Fund

68,887‌

11,372‌

7,926‌

84,193‌

LargeCap

Value

Fund

III

69,976‌

15,988‌

7,747‌

77,914‌

MidCap

Fund

13,643‌

2,379‌

1,323‌

16,765‌

MidCap

Growth

Fund

III

28,911‌

5,029‌

2,864‌

35,112‌

MidCap

Value

Fund

I

44,318‌

9,489‌

4,134‌

50,946‌

Origin

Emerging

Markets

Fund

20,084‌

10,975‌

1,105‌

34,807‌

Overseas

Fund

41,451‌

18,369‌

1,952‌

69,929‌

Real

Estate

Securities

Fund

16,506‌

2,982‌

757‌

19,600‌

SmallCap

Growth

Fund

I

13,743‌

2,760‌

1,520‌

16,858‌

SmallCap

Value

Fund

II

14,276‌

4,187‌

1,502‌

17,391‌

$

665,623‌

$

163,739‌

$

61,439‌

$

864,625‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

20‌

$

467‌

$

16,972‌

Core

Fixed

Income

Fund

577‌

—‌

—‌

645‌

Diversified

International

Fund

1,085‌

—‌

—‌

20,738‌

Equity

Income

Fund

1,282‌

8‌

2,536‌

3,912‌

High

Income

Fund

434‌

—‌

—‌

201‌

International

Small

Company

Fund

229‌

—‌

—‌

3,106‌

LargeCap

Growth

Fund

I

—‌

(

7‌

)

6,747‌

12,087‌

LargeCap

S&P

500

Index

Fund

1,042‌

(

4‌

)

936‌

11,864‌

LargeCap

Value

Fund

III

1,174‌

18‌

5,421‌

(

321‌

)

MidCap

Fund

—‌

9‌

430‌

2,057‌

MidCap

Growth

Fund

III

—‌

—‌

532‌

4,036‌

MidCap

Value

Fund

I

675‌

5‌

2,419‌

1,268‌

Origin

Emerging

Markets

Fund

693‌

—‌

—‌

4,853‌

Overseas

Fund

1,231‌

(

1‌

)

2,597‌

12,062‌

Real

Estate

Securities

Fund

315‌

—‌

169‌

869‌

SmallCap

Growth

Fund

I

—‌

—‌

112‌

1,875‌

SmallCap

Value

Fund

II

405‌

(

1‌

)

1,134‌

431‌

$

9,142‌

$

47‌

$

23,500‌

$

96,655‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2065

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

177

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

59

.25

%

Blue

Chip

Fund

(a),(b)

403,290‌

$

14,305‌

Core

Fixed

Income

Fund

(a)

506,313‌

4,283‌

Diversified

International

Fund

(a)

1,704,720‌

22,298‌

International

Small

Company

Fund

(a)

358,091‌

3,592‌

LargeCap

Growth

Fund

I

(a),(b)

842,747‌

14,521‌

MidCap

Fund

(a),(b)

76,228‌

2,778‌

MidCap

Value

Fund

I

(a)

508,086‌

8,490‌

Origin

Emerging

Markets

Fund

(a)

572,439‌

5,787‌

Real

Estate

Securities

Fund

(a)

122,243‌

3,283‌

SmallCap

Growth

Fund

I

(a),(b)

207,555‌

2,939‌

SmallCap

Value

Fund

II

(a)

251,287‌

3,018‌

$

85,294‌

Principal

Funds,

Inc.

Institutional

Class

-

40

.76

%

Equity

Income

Fund

(a)

349,765‌

13,029‌

High

Income

Fund

(a)

179,514‌

1,449‌

LargeCap

S&P

500

Index

Fund

(a)

600,904‌

13,947‌

LargeCap

Value

Fund

III

(a)

712,803‌

12,930‌

MidCap

Growth

Fund

III

(a),(b)

492,385‌

5,904‌

Overseas

Fund

(a)

1,026,110‌

11,420‌

$

58,679‌

TOTAL

INVESTMENT

COMPANIES

$

143,973‌

Total

Investments

$

143,973‌

Other

Assets

and

Liabilities

-  (0.01)%

(

19‌

)

TOTAL

NET

ASSETS

-

100.00%

$

143,954‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

66

.10‌

%

International

Equity

Funds

29

.93‌

%

Fixed

Income

Funds

3

.98‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

9,601‌

$

3,473‌

$

1,490‌

$

14,305‌

Core

Fixed

Income

Fund

3,110‌

1,342‌

256‌

4,283‌

Diversified

International

Fund

12,148‌

8,062‌

1,126‌

22,298‌

Equity

Income

Fund

9,887‌

3,956‌

1,461‌

13,029‌

High

Income

Fund

1,053‌

467‌

102‌

1,449‌

International

Small

Company

Fund

2,201‌

1,124‌

207‌

3,592‌

LargeCap

Growth

Fund

I

9,570‌

4,401‌

1,489‌

14,521‌

LargeCap

S&P

500

Index

Fund

9,808‌

3,696‌

1,482‌

13,947‌

LargeCap

Value

Fund

III

9,962‌

4,376‌

1,454‌

12,930‌

MidCap

Fund

1,944‌

769‌

266‌

2,778‌

MidCap

Growth

Fund

III

4,121‌

1,709‌

585‌

5,904‌

MidCap

Value

Fund

I

6,314‌

2,774‌

838‌

8,490‌

Origin

Emerging

Markets

Fund

2,866‌

2,442‌

275‌

5,787‌

Overseas

Fund

5,910‌

4,150‌

486‌

11,420‌

Real

Estate

Securities

Fund

2,352‌

980‌

188‌

3,283‌

SmallCap

Growth

Fund

I

1,964‌

977‌

322‌

2,939‌

SmallCap

Value

Fund

II

2,039‌

1,189‌

316‌

3,018‌

$

94,850‌

$

45,887‌

$

12,343‌

$

143,973‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

—‌

$

68‌

$

2,721‌

Core

Fixed

Income

Fund

92‌

—‌

—‌

87‌

Diversified

International

Fund

161‌

—‌

—‌

3,214‌

Equity

Income

Fund

199‌

(

1‌

)

372‌

648‌

High

Income

Fund

68‌

—‌

—‌

31‌

International

Small

Company

Fund

34‌

—‌

—‌

474‌

LargeCap

Growth

Fund

I

—‌

(

1‌

)

996‌

2,040‌

LargeCap

S&P

500

Index

Fund

154‌

(

1‌

)

138‌

1,926‌

LargeCap

Value

Fund

III

173‌

3‌

798‌

43‌

MidCap

Fund

—‌

—‌

63‌

331‌

MidCap

Growth

Fund

III

—‌

—‌

79‌

659‌

MidCap

Value

Fund

I

99‌

(

1‌

)

356‌

241‌

Origin

Emerging

Markets

Fund

103‌

—‌

—‌

754‌

Overseas

Fund

181‌

—‌

381‌

1,846‌

Real

Estate

Securities

Fund

50‌

—‌

25‌

139‌

SmallCap

Growth

Fund

I

—‌

—‌

17‌

320‌

SmallCap

Value

Fund

II

60‌

—‌

169‌

106‌

$

1,374‌

$

(

1‌

)

$

3,462‌

$

15,580‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2070

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

178

INVESTMENT

COMPANIES

-

100.19%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

59.61%

Blue

Chip

Fund

(a),(b)

14,533‌

$

516‌

Core

Fixed

Income

Fund

(a)

20,263‌

171‌

Diversified

International

Fund

(a)

62,230‌

814‌

International

Small

Company

Fund

(a)

14,154‌

142‌

LargeCap

Growth

Fund

I

(a),(b)

30,088‌

518‌

MidCap

Fund

(a),(b)

2,827‌

103‌

MidCap

Value

Fund

I

(a)

19,916‌

333‌

Origin

Emerging

Markets

Fund

(a)

20,225‌

204‌

Real

Estate

Securities

Fund

(a)

4,774‌

128‌

SmallCap

Growth

Fund

I

(a),(b)

9,162‌

130‌

SmallCap

Value

Fund

II

(a)

10,980‌

132‌

$

3,191‌

Principal

Funds,

Inc.

Institutional

Class

-

40.58%

Equity

Income

Fund

(a)

13,375‌

498‌

High

Income

Fund

(a)

7,018‌

57‌

LargeCap

S&P

500

Index

Fund

(a)

22,012‌

511‌

LargeCap

Value

Fund

III

(a)

27,349‌

496‌

MidCap

Growth

Fund

III

(a),(b)

19,324‌

232‌

Overseas

Fund

(a)

33,965‌

378‌

$

2,172‌

TOTAL

INVESTMENT

COMPANIES

$

5,363‌

Total

Investments

$

5,363‌

Other

Assets

and

Liabilities

-  (0.19)%

(10‌)

TOTAL

NET

ASSETS

-

100.00%

$

5,353‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

67.20‌%

International

Equity

Funds

28.73‌%

Fixed

Income

Funds

4.26‌%

Other

Assets

and

Liabilities

(0.19‌)%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

—‌

$

521‌

$

25‌

$

516‌

Core

Fixed

Income

Fund

—‌

186‌

15‌

171‌

Diversified

International

Fund

—‌

835‌

41‌

814‌

Equity

Income

Fund

—‌

514‌

35‌

498‌

High

Income

Fund

—‌

60‌

3‌

57‌

International

Small

Company

Fund

—‌

150‌

12‌

142‌

LargeCap

Growth

Fund

I

—‌

524‌

26‌

518‌

LargeCap

S&P

500

Index

Fund

—‌

518‌

27‌

511‌

LargeCap

Value

Fund

III

—‌

513‌

36‌

496‌

MidCap

Fund

—‌

106‌

5‌

103‌

MidCap

Growth

Fund

III

—‌

246‌

21‌

232‌

MidCap

Value

Fund

I

—‌

349‌

28‌

333‌

Origin

Emerging

Markets

Fund

—‌

207‌

10‌

204‌

Overseas

Fund

—‌

382‌

17‌

378‌

Real

Estate

Securities

Fund

—‌

137‌

11‌

128‌

SmallCap

Growth

Fund

I

—‌

145‌

20‌

130‌

SmallCap

Value

Fund

II

—‌

145‌

20‌

132‌

$

—‌

$

5,538‌

$

352‌

$

5,363‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

—‌

$

—‌

$

20‌

Core

Fixed

Income

Fund

1‌

—‌

—‌

—‌

Diversified

International

Fund

—‌

—‌

—‌

20‌

Equity

Income

Fund

1‌

—‌

—‌

19‌

High

Income

Fund

—‌

—‌

—‌

—‌

International

Small

Company

Fund

—‌

—‌

—‌

4‌

LargeCap

Growth

Fund

I

—‌

—‌

—‌

20‌

LargeCap

S&P

500

Index

Fund

—‌

—‌

—‌

20‌

LargeCap

Value

Fund

III

—‌

—‌

—‌

19‌

MidCap

Fund

—‌

—‌

—‌

2‌

MidCap

Growth

Fund

III

—‌

—‌

—‌

7‌

MidCap

Value

Fund

I

—‌

—‌

—‌

12‌

Origin

Emerging

Markets

Fund

—‌

—‌

—‌

7‌

Overseas

Fund

—‌

—‌

—‌

13‌

Real

Estate

Securities

Fund

—‌

—‌

—‌

2‌

SmallCap

Growth

Fund

I

—‌

—‌

—‌

5‌

SmallCap

Value

Fund

II

—‌

—‌

—‌

7‌

$

2‌

$

—‌

$

—‌

$

177‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2015

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

179

INVESTMENT

COMPANIES

-

100

.02

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

20

.30

%

Diversified

International

Fund

(a)

1,545,363‌

$

20,213‌

Diversified

Real

Asset

Fund

(a)

457,476‌

5,124‌

International

Small

Company

Fund

(a)

199,412‌

2,000‌

MidCap

S&P

400

Index

Fund

(a)

453,968‌

10,105‌

Origin

Emerging

Markets

Fund

(a)

228,735‌

2,313‌

SmallCap

S&P

600

Index

Fund

(a)

125,537‌

3,273‌

$

43,028‌

Principal

Funds,

Inc.

Institutional

Class

-

79

.72

%

Bond

Market

Index

Fund

(a)

8,163,524‌

69,961‌

High

Income

Fund

(a)

1,681,210‌

13,567‌

Inflation

Protection

Fund

(a)

1,641,613‌

12,854‌

LargeCap

S&P

500

Index

Fund

(a)

1,690,820‌

39,244‌

Short-Term

Income

Fund

(a)

2,869,096‌

33,368‌

$

168,994‌

TOTAL

INVESTMENT

COMPANIES

$

212,022‌

Total

Investments

$

212,022‌

Other

Assets

and

Liabilities

-  (0.02)%

(

47‌

)

TOTAL

NET

ASSETS

-

100.00%

$

211,975‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

61

.21‌

%

Domestic

Equity

Funds

24

.82‌

%

International

Equity

Funds

11

.57‌

%

Specialty

Funds

2

.42‌

%

Other

Assets

and

Liabilities

(

0

.02‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

54,990‌

$

19,845‌

$

6,818‌

$

69,961‌

Diversified

International

Fund

11,423‌

7,731‌

1,967‌

20,213‌

Diversified

Real

Asset

Fund

4,032‌

1,760‌

492‌

5,124‌

High

Income

Fund

10,645‌

4,193‌

1,576‌

13,567‌

Inflation

Protection

Fund

10,880‌

4,200‌

1,885‌

12,854‌

International

Small

Company

Fund

1,297‌

669‌

247‌

2,000‌

LargeCap

S&P

500

Index

Fund

30,859‌

9,979‌

7,175‌

39,244‌

MidCap

S&P

400

Index

Fund

8,027‌

3,123‌

1,604‌

10,105‌

Origin

Emerging

Markets

Fund

1,222‌

1,013‌

235‌

2,313‌

Short-Term

Income

Fund

25,284‌

10,682‌

3,166‌

33,368‌

SmallCap

S&P

600

Index

Fund

2,642‌

1,283‌

618‌

3,273‌

$

161,301‌

$

64,478‌

$

25,783‌

$

212,022‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

990‌

$

(

1‌

)

$

—‌

$

1,945‌

Diversified

International

Fund

161‌

13‌

—‌

3,013‌

Diversified

Real

Asset

Fund

183‌

—‌

255‌

(

176‌

)

High

Income

Fund

668‌

1‌

—‌

304‌

Inflation

Protection

Fund

674‌

(

4‌

)

—‌

(

337‌

)

International

Small

Company

Fund

21‌

—‌

—‌

281‌

LargeCap

S&P

500

Index

Fund

479‌

(

13‌

)

430‌

5,594‌

MidCap

S&P

400

Index

Fund

125‌

(

1‌

)

482‌

560‌

Origin

Emerging

Markets

Fund

47‌

—‌

—‌

313‌

Short-Term

Income

Fund

669‌

—‌

—‌

568‌

SmallCap

S&P

600

Index

Fund

40‌

1‌

248‌

(

35‌

)

$

4,057‌

$

(

4‌

)

$

1,415‌

$

12,030‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2020

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

180

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

23

.87

%

Diversified

International

Fund

(a)

4,160,015‌

$

54,413‌

Diversified

Real

Asset

Fund

(a)

1,018,877‌

11,411‌

International

Small

Company

Fund

(a)

538,156‌

5,398‌

MidCap

S&P

400

Index

Fund

(a)

1,222,013‌

27,202‌

Origin

Emerging

Markets

Fund

(a)

605,782‌

6,124‌

SmallCap

S&P

600

Index

Fund

(a)

319,016‌

8,317‌

$

112,865‌

Principal

Funds,

Inc.

Institutional

Class

-

76

.14

%

Bond

Market

Index

Fund

(a)

17,169,324‌

147,141‌

High

Income

Fund

(a)

3,309,994‌

26,712‌

Inflation

Protection

Fund

(a)

3,221,780‌

25,227‌

LargeCap

S&P

500

Index

Fund

(a)

4,544,049‌

105,467‌

Short-Term

Income

Fund

(a)

4,775,431‌

55,538‌

$

360,085‌

TOTAL

INVESTMENT

COMPANIES

$

472,950‌

Total

Investments

$

472,950‌

Other

Assets

and

Liabilities

-  (0.01)%

(

56‌

)

TOTAL

NET

ASSETS

-

100.00%

$

472,894‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

53

.84‌

%

Domestic

Equity

Funds

29

.81‌

%

International

Equity

Funds

13

.95‌

%

Specialty

Funds

2

.41‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

141,418‌

$

17,762‌

$

16,969‌

$

147,141‌

Diversified

International

Fund

36,514‌

14,672‌

5,679‌

54,413‌

Diversified

Real

Asset

Fund

10,984‌

2,171‌

1,279‌

11,411‌

High

Income

Fund

25,596‌

4,188‌

3,733‌

26,712‌

Inflation

Protection

Fund

26,432‌

4,269‌

4,748‌

25,227‌

International

Small

Company

Fund

4,303‌

1,094‌

861‌

5,398‌

LargeCap

S&P

500

Index

Fund

100,977‌

11,521‌

22,646‌

105,467‌

MidCap

S&P

400

Index

Fund

26,224‌

4,341‌

4,766‌

27,202‌

Origin

Emerging

Markets

Fund

3,581‌

2,236‌

564‌

6,124‌

Short-Term

Income

Fund

50,605‌

10,033‌

6,183‌

55,538‌

SmallCap

S&P

600

Index

Fund

8,416‌

1,836‌

1,701‌

8,317‌

$

435,050‌

$

74,123‌

$

69,129‌

$

472,950‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

2,423‌

$

(

12‌

)

$

—‌

$

4,942‌

Diversified

International

Fund

490‌

47‌

—‌

8,859‌

Diversified

Real

Asset

Fund

456‌

3‌

660‌

(

468‌

)

High

Income

Fund

1,432‌

5‌

—‌

656‌

Inflation

Protection

Fund

1,513‌

(

10‌

)

—‌

(

716‌

)

International

Small

Company

Fund

67‌

16‌

—‌

846‌

LargeCap

S&P

500

Index

Fund

1,474‌

(

948‌

)

1,326‌

16,563‌

MidCap

S&P

400

Index

Fund

387‌

—‌

1,496‌

1,403‌

Origin

Emerging

Markets

Fund

130‌

1‌

—‌

870‌

Short-Term

Income

Fund

1,207‌

2‌

—‌

1,081‌

SmallCap

S&P

600

Index

Fund

119‌

(

4‌

)

745‌

(

230‌

)

$

9,698‌

$

(

900‌

)

$

4,227‌

$

33,806‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2025

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

181

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

27

.59

%

Diversified

International

Fund

(a)

6,823,856‌

$

89,256‌

Diversified

Real

Asset

Fund

(a)

1,450,617‌

16,247‌

International

Small

Company

Fund

(a)

900,215‌

9,029‌

MidCap

S&P

400

Index

Fund

(a)

1,981,240‌

44,102‌

Origin

Emerging

Markets

Fund

(a)

1,011,065‌

10,222‌

SmallCap

S&P

600

Index

Fund

(a)

554,616‌

14,459‌

$

183,315‌

Principal

Funds,

Inc.

Institutional

Class

-

72

.42

%

Bond

Market

Index

Fund

(a)

22,580,974‌

193,519‌

High

Income

Fund

(a)

4,058,020‌

32,748‌

Inflation

Protection

Fund

(a)

3,923,464‌

30,721‌

LargeCap

S&P

500

Index

Fund

(a)

7,514,705‌

174,416‌

Short-Term

Income

Fund

(a)

4,279,862‌

49,775‌

$

481,179‌

TOTAL

INVESTMENT

COMPANIES

$

664,494‌

Total

Investments

$

664,494‌

Other

Assets

and

Liabilities

-  (0.01)%

(

83‌

)

TOTAL

NET

ASSETS

-

100.00%

$

664,411‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

46

.17‌

%

Domestic

Equity

Funds

35

.07‌

%

International

Equity

Funds

16

.33‌

%

Specialty

Funds

2

.44‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

157,734‌

$

40,386‌

$

10,079‌

$

193,519‌

Diversified

International

Fund

53,374‌

27,588‌

5,305‌

89,256‌

Diversified

Real

Asset

Fund

13,334‌

4,267‌

798‌

16,247‌

High

Income

Fund

26,753‌

7,687‌

2,432‌

32,748‌

Inflation

Protection

Fund

26,789‌

7,877‌

3,147‌

30,721‌

International

Small

Company

Fund

6,136‌

2,226‌

619‌

9,029‌

LargeCap

S&P

500

Index

Fund

141,177‌

32,254‌

23,907‌

174,416‌

MidCap

S&P

400

Index

Fund

36,283‌

10,410‌

5,028‌

44,102‌

Origin

Emerging

Markets

Fund

5,336‌

4,102‌

586‌

10,222‌

Short-Term

Income

Fund

36,446‌

15,018‌

2,493‌

49,775‌

SmallCap

S&P

600

Index

Fund

12,033‌

4,456‌

1,869‌

14,459‌

$

515,395‌

$

156,271‌

$

56,263‌

$

664,494‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

2,753‌

$

(

5‌

)

$

—‌

$

5,483‌

Diversified

International

Fund

713‌

10‌

—‌

13,589‌

Diversified

Real

Asset

Fund

586‌

—‌

817‌

(

556‌

)

High

Income

Fund

1,626‌

—‌

—‌

740‌

Inflation

Protection

Fund

1,599‌

(

9‌

)

—‌

(

789‌

)

International

Small

Company

Fund

96‌

1‌

—‌

1,285‌

LargeCap

S&P

500

Index

Fund

2,144‌

18‌

1,922‌

24,874‌

MidCap

S&P

400

Index

Fund

548‌

(

5‌

)

2,112‌

2,442‌

Origin

Emerging

Markets

Fund

194‌

—‌

—‌

1,370‌

Short-Term

Income

Fund

983‌

—‌

—‌

804‌

SmallCap

S&P

600

Index

Fund

176‌

(

1‌

)

1,092‌

(

160‌

)

$

11,418‌

$

9‌

$

5,943‌

$

49,082‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2030

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

182

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

31

.92

%

Diversified

International

Fund

(a)

7,869,774‌

$

102,937‌

International

Small

Company

Fund

(a)

1,061,048‌

10,642‌

MidCap

S&P

400

Index

Fund

(a)

2,303,003‌

51,265‌

Origin

Emerging

Markets

Fund

(a)

1,170,369‌

11,832‌

Real

Estate

Securities

Fund

(a)

557,757‌

14,981‌

SmallCap

S&P

600

Index

Fund

(a)

641,725‌

16,730‌

$

208,387‌

Principal

Funds,

Inc.

Institutional

Class

-

68

.09

%

Bond

Market

Index

Fund

(a)

24,929,722‌

213,648‌

High

Income

Fund

(a)

3,653,687‌

29,485‌

LargeCap

S&P

500

Index

Fund

(a)

8,675,272‌

201,353‌

$

444,486‌

TOTAL

INVESTMENT

COMPANIES

$

652,873‌

Total

Investments

$

652,873‌

Other

Assets

and

Liabilities

-  (0.01)%

(

60‌

)

TOTAL

NET

ASSETS

-

100.00%

$

652,813‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

43

.55‌

%

Fixed

Income

Funds

37

.25‌

%

International

Equity

Funds

19

.21‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

177,114‌

$

41,536‌

$

11,134‌

$

213,648‌

Diversified

International

Fund

63,385‌

29,307‌

5,581‌

102,937‌

High

Income

Fund

25,035‌

5,987‌

2,213‌

29,485‌

International

Small

Company

Fund

7,490‌

2,316‌

702‌

10,642‌

LargeCap

S&P

500

Index

Fund

168,281‌

31,828‌

27,438‌

201,353‌

MidCap

S&P

400

Index

Fund

43,395‌

10,667‌

5,557‌

51,265‌

Origin

Emerging

Markets

Fund

6,477‌

4,394‌

656‌

11,832‌

Real

Estate

Securities

Fund

12,417‌

2,697‌

786‌

14,981‌

SmallCap

S&P

600

Index

Fund

14,326‌

4,619‌

1,981‌

16,730‌

$

517,920‌

$

133,351‌

$

56,048‌

$

652,873‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

3,075‌

$

(

2‌

)

$

—‌

$

6,134‌

Diversified

International

Fund

831‌

(

5‌

)

—‌

15,831‌

High

Income

Fund

1,484‌

1‌

—‌

675‌

International

Small

Company

Fund

115‌

—‌

—‌

1,538‌

LargeCap

S&P

500

Index

Fund

2,534‌

(

35‌

)

2,276‌

28,717‌

MidCap

S&P

400

Index

Fund

650‌

(

1‌

)

2,509‌

2,761‌

Origin

Emerging

Markets

Fund

231‌

—‌

—‌

1,617‌

Real

Estate

Securities

Fund

240‌

—‌

128‌

653‌

SmallCap

S&P

600

Index

Fund

207‌

(

4‌

)

1,290‌

(

230‌

)

$

9,367‌

$

(

46‌

)

$

6,203‌

$

57,696‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2035

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

183

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

36

.35

%

Diversified

International

Fund

(a)

7,045,269‌

$

92,152‌

International

Small

Company

Fund

(a)

906,359‌

9,091‌

MidCap

S&P

400

Index

Fund

(a)

2,037,465‌

45,354‌

Origin

Emerging

Markets

Fund

(a)

1,033,089‌

10,445‌

Real

Estate

Securities

Fund

(a)

427,712‌

11,488‌

SmallCap

S&P

600

Index

Fund

(a)

559,848‌

14,595‌

$

183,125‌

Principal

Funds,

Inc.

Institutional

Class

-

63

.66

%

Bond

Market

Index

Fund

(a)

14,132,209‌

121,113‌

High

Income

Fund

(a)

2,453,525‌

19,800‌

LargeCap

S&P

500

Index

Fund

(a)

7,744,801‌

179,757‌

$

320,670‌

TOTAL

INVESTMENT

COMPANIES

$

503,795‌

Total

Investments

$

503,795‌

Other

Assets

and

Liabilities

-  (0.01)%

(

49‌

)

TOTAL

NET

ASSETS

-

100.00%

$

503,746‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

49

.87‌

%

Fixed

Income

Funds

27

.97‌

%

International

Equity

Funds

22

.17‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

98,702‌

$

25,579‌

$

6,581‌

$

121,113‌

Diversified

International

Fund

58,171‌

25,200‌

5,597‌

92,152‌

High

Income

Fund

16,440‌

4,404‌

1,496‌

19,800‌

International

Small

Company

Fund

6,601‌

1,868‌

722‌

9,091‌

LargeCap

S&P

500

Index

Fund

150,204‌

28,075‌

24,324‌

179,757‌

MidCap

S&P

400

Index

Fund

38,717‌

9,345‌

5,213‌

45,354‌

Origin

Emerging

Markets

Fund

5,712‌

3,880‌

579‌

10,445‌

Real

Estate

Securities

Fund

9,573‌

2,027‌

625‌

11,488‌

SmallCap

S&P

600

Index

Fund

12,792‌

3,994‌

1,991‌

14,595‌

$

396,912‌

$

104,372‌

$

47,128‌

$

503,795‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

1,701‌

$

1‌

$

—‌

$

3,412‌

Diversified

International

Fund

746‌

9‌

—‌

14,369‌

High

Income

Fund

983‌

—‌

—‌

452‌

International

Small

Company

Fund

99‌

2‌

—‌

1,342‌

LargeCap

S&P

500

Index

Fund

2,261‌

(

50‌

)

2,030‌

25,852‌

MidCap

S&P

400

Index

Fund

575‌

(

4‌

)

2,222‌

2,509‌

Origin

Emerging

Markets

Fund

199‌

—‌

—‌

1,432‌

Real

Estate

Securities

Fund

184‌

—‌

97‌

513‌

SmallCap

S&P

600

Index

Fund

183‌

(

1‌

)

1,139‌

(

199‌

)

$

6,931‌

$

(

43‌

)

$

5,488‌

$

49,682‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2040

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

184

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

41

.56

%

Diversified

International

Fund

(a)

8,396,590‌

$

109,827‌

International

Small

Company

Fund

(a)

1,108,881‌

11,122‌

MidCap

S&P

400

Index

Fund

(a)

2,412,436‌

53,701‌

Origin

Emerging

Markets

Fund

(a)

1,223,468‌

12,369‌

Real

Estate

Securities

Fund

(a)

438,700‌

11,784‌

SmallCap

S&P

600

Index

Fund

(a)

678,432‌

17,687‌

$

216,490‌

Principal

Funds,

Inc.

Institutional

Class

-

58

.45

%

Bond

Market

Index

Fund

(a)

8,691,593‌

74,487‌

High

Income

Fund

(a)

1,833,369‌

14,795‌

LargeCap

S&P

500

Index

Fund

(a)

9,269,269‌

215,140‌

$

304,422‌

TOTAL

INVESTMENT

COMPANIES

$

520,912‌

Total

Investments

$

520,912‌

Other

Assets

and

Liabilities

-  (0.01)%

(

49‌

)

TOTAL

NET

ASSETS

-

100.00%

$

520,863‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

57

.28‌

%

International

Equity

Funds

25

.59‌

%

Fixed

Income

Funds

17

.14‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

56,924‌

$

18,120‌

$

2,505‌

$

74,487‌

Diversified

International

Fund

65,705‌

31,622‌

4,074‌

109,827‌

High

Income

Fund

11,681‌

3,571‌

784‌

14,795‌

International

Small

Company

Fund

7,573‌

2,469‌

487‌

11,122‌

LargeCap

S&P

500

Index

Fund

169,016‌

38,447‌

22,639‌

215,140‌

MidCap

S&P

400

Index

Fund

43,300‌

12,263‌

4,808‌

53,701‌

Origin

Emerging

Markets

Fund

6,620‌

4,538‌

456‌

12,369‌

Real

Estate

Securities

Fund

9,294‌

2,373‌

394‌

11,784‌

SmallCap

S&P

600

Index

Fund

14,414‌

5,185‌

1,733‌

17,687‌

$

384,527‌

$

118,588‌

$

37,880‌

$

520,912‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

1,000‌

$

—‌

$

—‌

$

1,948‌

Diversified

International

Fund

854‌

7‌

—‌

16,567‌

High

Income

Fund

720‌

—‌

—‌

327‌

International

Small

Company

Fund

115‌

—‌

—‌

1,567‌

LargeCap

S&P

500

Index

Fund

2,599‌

14‌

2,330‌

30,302‌

MidCap

S&P

400

Index

Fund

655‌

(

2‌

)

2,522‌

2,948‌

Origin

Emerging

Markets

Fund

234‌

—‌

—‌

1,667‌

Real

Estate

Securities

Fund

185‌

—‌

97‌

511‌

SmallCap

S&P

600

Index

Fund

211‌

(

1‌

)

1,309‌

(

178‌

)

$

6,573‌

$

18‌

$

6,258‌

$

55,659‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2045

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

185

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

45

.43

%

Diversified

International

Fund

(a)

6,073,540‌

$

79,442‌

International

Small

Company

Fund

(a)

806,012‌

8,084‌

MidCap

S&P

400

Index

Fund

(a)

1,772,311‌

39,452‌

Origin

Emerging

Markets

Fund

(a)

893,451‌

9,033‌

Real

Estate

Securities

Fund

(a)

288,214‌

7,741‌

SmallCap

S&P

600

Index

Fund

(a)

491,492‌

12,813‌

$

156,565‌

Principal

Funds,

Inc.

Institutional

Class

-

54

.58

%

Bond

Market

Index

Fund

(a)

3,014,364‌

25,833‌

High

Income

Fund

(a)

821,209‌

6,627‌

LargeCap

S&P

500

Index

Fund

(a)

6,705,232‌

155,629‌

$

188,089‌

TOTAL

INVESTMENT

COMPANIES

$

344,654‌

Total

Investments

$

344,654‌

Other

Assets

and

Liabilities

-  (0.01)%

(

35‌

)

TOTAL

NET

ASSETS

-

100.00%

$

344,619‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

62

.58‌

%

International

Equity

Funds

28

.01‌

%

Fixed

Income

Funds

9

.42‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

19,490‌

$

6,473‌

$

798‌

$

25,833‌

Diversified

International

Fund

47,714‌

22,385‌

2,599‌

79,442‌

High

Income

Fund

5,085‌

1,707‌

308‌

6,627‌

International

Small

Company

Fund

5,525‌

1,751‌

329‌

8,084‌

LargeCap

S&P

500

Index

Fund

124,117‌

25,994‌

16,319‌

155,629‌

MidCap

S&P

400

Index

Fund

32,078‌

8,487‌

3,307‌

39,452‌

Origin

Emerging

Markets

Fund

4,787‌

3,347‌

310‌

9,033‌

Real

Estate

Securities

Fund

6,190‌

1,455‌

244‌

7,741‌

SmallCap

S&P

600

Index

Fund

10,581‌

3,543‌

1,200‌

12,813‌

$

255,567‌

$

75,142‌

$

25,414‌

$

344,654‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

334‌

$

—‌

$

—‌

$

668‌

Diversified

International

Fund

611‌

1‌

—‌

11,941‌

High

Income

Fund

313‌

—‌

—‌

143‌

International

Small

Company

Fund

83‌

—‌

—‌

1,137‌

LargeCap

S&P

500

Index

Fund

1,855‌

21‌

1,667‌

21,816‌

MidCap

S&P

400

Index

Fund

474‌

(

3‌

)

1,829‌

2,197‌

Origin

Emerging

Markets

Fund

166‌

—‌

—‌

1,209‌

Real

Estate

Securities

Fund

121‌

—‌

63‌

340‌

SmallCap

S&P

600

Index

Fund

150‌

(

2‌

)

936‌

(

109‌

)

$

4,107‌

$

17‌

$

4,495‌

$

39,342‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2050

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

186

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

48

.12

%

Diversified

International

Fund

(a)

5,634,102‌

$

73,694‌

International

Small

Company

Fund

(a)

748,520‌

7,508‌

MidCap

S&P

400

Index

Fund

(a)

1,637,874‌

36,459‌

Origin

Emerging

Markets

Fund

(a)

833,279‌

8,424‌

Real

Estate

Securities

Fund

(a)

250,736‌

6,735‌

SmallCap

S&P

600

Index

Fund

(a)

469,537‌

12,241‌

$

145,061‌

Principal

Funds,

Inc.

Institutional

Class

-

51

.89

%

Bond

Market

Index

Fund

(a)

1,040,607‌

8,918‌

High

Income

Fund

(a)

375,109‌

3,027‌

LargeCap

S&P

500

Index

Fund

(a)

6,224,053‌

144,460‌

$

156,405‌

TOTAL

INVESTMENT

COMPANIES

$

301,466‌

Total

Investments

$

301,466‌

Other

Assets

and

Liabilities

-  (0.01)%

(

29‌

)

TOTAL

NET

ASSETS

-

100.00%

$

301,437‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

66

.31‌

%

International

Equity

Funds

29

.73‌

%

Fixed

Income

Funds

3

.97‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

7,135‌

$

1,725‌

$

192‌

$

8,918‌

Diversified

International

Fund

43,593‌

20,475‌

1,268‌

73,694‌

High

Income

Fund

2,420‌

649‌

109‌

3,027‌

International

Small

Company

Fund

5,039‌

1,589‌

154‌

7,508‌

LargeCap

S&P

500

Index

Fund

111,808‌

24,691‌

12,012‌

144,460‌

MidCap

S&P

400

Index

Fund

28,895‌

7,959‌

2,389‌

36,459‌

Origin

Emerging

Markets

Fund

4,426‌

3,028‌

144‌

8,424‌

Real

Estate

Securities

Fund

5,289‌

1,301‌

141‌

6,735‌

SmallCap

S&P

600

Index

Fund

9,748‌

3,429‌

843‌

12,241‌

$

218,353‌

$

64,846‌

$

17,252‌

$

301,466‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

123‌

$

—‌

$

—‌

$

250‌

Diversified

International

Fund

553‌

1‌

—‌

10,893‌

High

Income

Fund

146‌

—‌

—‌

67‌

International

Small

Company

Fund

75‌

—‌

—‌

1,034‌

LargeCap

S&P

500

Index

Fund

1,687‌

(

9‌

)

1,515‌

19,982‌

MidCap

S&P

400

Index

Fund

429‌

(

2‌

)

1,653‌

1,996‌

Origin

Emerging

Markets

Fund

152‌

—‌

—‌

1,114‌

Real

Estate

Securities

Fund

104‌

—‌

54‌

286‌

SmallCap

S&P

600

Index

Fund

139‌

(

2‌

)

867‌

(

91‌

)

$

3,408‌

$

(

12‌

)

$

4,089‌

$

35,531‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2055

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

187

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

48

.22

%

Diversified

International

Fund

(a)

3,202,839‌

$

41,893‌

International

Small

Company

Fund

(a)

429,791‌

4,311‌

MidCap

S&P

400

Index

Fund

(a)

935,312‌

20,820‌

Origin

Emerging

Markets

Fund

(a)

473,933‌

4,791‌

Real

Estate

Securities

Fund

(a)

143,609‌

3,857‌

SmallCap

S&P

600

Index

Fund

(a)

275,627‌

7,186‌

$

82,858‌

Principal

Funds,

Inc.

Institutional

Class

-

51

.79

%

Bond

Market

Index

Fund

(a)

597,294‌

5,119‌

High

Income

Fund

(a)

215,017‌

1,735‌

LargeCap

S&P

500

Index

Fund

(a)

3,539,672‌

82,156‌

$

89,010‌

TOTAL

INVESTMENT

COMPANIES

$

171,868‌

Total

Investments

$

171,868‌

Other

Assets

and

Liabilities

-  (0.01)%

(

20‌

)

TOTAL

NET

ASSETS

-

100.00%

$

171,848‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

66

.34‌

%

International

Equity

Funds

29

.68‌

%

Fixed

Income

Funds

3

.99‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

3,661‌

$

1,393‌

$

63‌

$

5,119‌

Diversified

International

Fund

22,436‌

14,017‌

418‌

41,893‌

High

Income

Fund

1,241‌

502‌

43‌

1,735‌

International

Small

Company

Fund

2,597‌

1,211‌

51‌

4,311‌

LargeCap

S&P

500

Index

Fund

57,116‌

19,707‌

5,746‌

82,156‌

MidCap

S&P

400

Index

Fund

14,791‌

6,017‌

1,152‌

20,820‌

Origin

Emerging

Markets

Fund

2,269‌

1,969‌

48‌

4,791‌

Real

Estate

Securities

Fund

2,703‌

1,044‌

46‌

3,857‌

SmallCap

S&P

600

Index

Fund

5,023‌

2,563‌

403‌

7,186‌

$

111,837‌

$

48,423‌

$

7,970‌

$

171,868‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

64‌

$

—‌

$

—‌

$

128‌

Diversified

International

Fund

290‌

—‌

—‌

5,858‌

High

Income

Fund

80‌

—‌

—‌

35‌

International

Small

Company

Fund

39‌

—‌

—‌

554‌

LargeCap

S&P

500

Index

Fund

879‌

—‌

789‌

11,079‌

MidCap

S&P

400

Index

Fund

223‌

—‌

860‌

1,164‌

Origin

Emerging

Markets

Fund

80‌

—‌

—‌

601‌

Real

Estate

Securities

Fund

57‌

—‌

28‌

156‌

SmallCap

S&P

600

Index

Fund

73‌

—‌

456‌

3‌

$

1,785‌

$

—‌

$

2,133‌

$

19,578‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2060

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

188

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

48

.30

%

Diversified

International

Fund

(a)

1,535,719‌

$

20,087‌

International

Small

Company

Fund

(a)

207,751‌

2,084‌

MidCap

S&P

400

Index

Fund

(a)

450,170‌

10,021‌

Origin

Emerging

Markets

Fund

(a)

227,316‌

2,298‌

Real

Estate

Securities

Fund

(a)

69,114‌

1,857‌

SmallCap

S&P

600

Index

Fund

(a)

136,105‌

3,548‌

$

39,895‌

Principal

Funds,

Inc.

Institutional

Class

-

51

.71

%

Bond

Market

Index

Fund

(a)

288,410‌

2,471‌

High

Income

Fund

(a)

103,723‌

837‌

LargeCap

S&P

500

Index

Fund

(a)

1,697,490‌

39,399‌

$

42,707‌

TOTAL

INVESTMENT

COMPANIES

$

82,602‌

Total

Investments

$

82,602‌

Other

Assets

and

Liabilities

-  (0.01)%

(

11‌

)

TOTAL

NET

ASSETS

-

100.00%

$

82,591‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

66

.39‌

%

International

Equity

Funds

29

.62‌

%

Fixed

Income

Funds

4

.00‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

1,654‌

$

794‌

$

34‌

$

2,471‌

Diversified

International

Fund

10,220‌

7,371‌

222‌

20,087‌

High

Income

Fund

561‌

281‌

22‌

837‌

International

Small

Company

Fund

1,188‌

666‌

27‌

2,084‌

LargeCap

S&P

500

Index

Fund

25,588‌

11,174‌

2,566‌

39,399‌

MidCap

S&P

400

Index

Fund

6,676‌

3,343‌

553‌

10,021‌

Origin

Emerging

Markets

Fund

1,040‌

1,002‌

24‌

2,298‌

Real

Estate

Securities

Fund

1,216‌

593‌

25‌

1,857‌

SmallCap

S&P

600

Index

Fund

2,314‌

1,422‌

199‌

3,548‌

$

50,457‌

$

26,646‌

$

3,672‌

$

82,602‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

30‌

$

—‌

$

—‌

$

57‌

Diversified

International

Fund

133‌

—‌

—‌

2,718‌

High

Income

Fund

38‌

—‌

—‌

17‌

International

Small

Company

Fund

18‌

—‌

—‌

257‌

LargeCap

S&P

500

Index

Fund

401‌

—‌

361‌

5,203‌

MidCap

S&P

400

Index

Fund

102‌

—‌

394‌

555‌

Origin

Emerging

Markets

Fund

37‌

—‌

—‌

280‌

Real

Estate

Securities

Fund

26‌

—‌

13‌

73‌

SmallCap

S&P

600

Index

Fund

34‌

—‌

214‌

11‌

$

819‌

$

—‌

$

982‌

$

9,171‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2065

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

189

INVESTMENT

COMPANIES

-

100

.04

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

48

.39

%

Diversified

International

Fund

(a)

448,290‌

$

5,864‌

International

Small

Company

Fund

(a)

60,932‌

611‌

MidCap

S&P

400

Index

Fund

(a)

131,961‌

2,938‌

Origin

Emerging

Markets

Fund

(a)

66,390‌

671‌

Real

Estate

Securities

Fund

(a)

20,336‌

546‌

SmallCap

S&P

600

Index

Fund

(a)

40,246‌

1,049‌

$

11,679‌

Principal

Funds,

Inc.

Institutional

Class

-

51

.65

%

Bond

Market

Index

Fund

(a)

84,665‌

726‌

High

Income

Fund

(a)

30,435‌

246‌

LargeCap

S&P

500

Index

Fund

(a)

495,284‌

11,495‌

$

12,467‌

TOTAL

INVESTMENT

COMPANIES

$

24,146‌

Total

Investments

$

24,146‌

Other

Assets

and

Liabilities

-  (0.04)%

(

9‌

)

TOTAL

NET

ASSETS

-

100.00%

$

24,137‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

66

.40‌

%

International

Equity

Funds

29

.61‌

%

Fixed

Income

Funds

4

.03‌

%

Other

Assets

and

Liabilities

(

0

.04‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

428‌

$

304‌

$

20‌

$

726‌

Diversified

International

Fund

2,609‌

2,661‌

145‌

5,864‌

High

Income

Fund

145‌

106‌

10‌

246‌

International

Small

Company

Fund

302‌

257‌

17‌

611‌

LargeCap

S&P

500

Index

Fund

6,689‌

4,271‌

949‌

11,495‌

MidCap

S&P

400

Index

Fund

1,730‌

1,243‌

204‌

2,938‌

Origin

Emerging

Markets

Fund

259‌

352‌

15‌

671‌

Real

Estate

Securities

Fund

315‌

227‌

16‌

546‌

SmallCap

S&P

600

Index

Fund

590‌

523‌

77‌

1,049‌

$

13,067‌

$

9,944‌

$

1,453‌

$

24,146‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

8‌

$

—‌

$

—‌

$

14‌

Diversified

International

Fund

34‌

—‌

—‌

739‌

High

Income

Fund

10‌

—‌

—‌

5‌

International

Small

Company

Fund

5‌

—‌

—‌

69‌

LargeCap

S&P

500

Index

Fund

105‌

—‌

94‌

1,484‌

MidCap

S&P

400

Index

Fund

27‌

—‌

102‌

169‌

Origin

Emerging

Markets

Fund

9‌

—‌

—‌

75‌

Real

Estate

Securities

Fund

7‌

—‌

3‌

20‌

SmallCap

S&P

600

Index

Fund

9‌

—‌

55‌

13‌

$

214‌

$

—‌

$

254‌

$

2,588‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2070

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

190

Amounts

shown

are

in

whole

dollars.

INVESTMENT

COMPANIES

-

103.23

%

Shares

Held

Value

Principal

Funds,

Inc.

Class

R-6

–

49.98

%

Diversified

International

Fund

(a)

5,152‌

$

6

7,392‌

International

Small

Company

Fund

(a)

734‌

7

,362‌

MidCap

S&P

400

Index

Fund

(a)

1,579‌

35

,158‌

Origin

Emerging

Markets

Fund

(a)

762‌

7,699‌

Real

Estate

Securities

Fund

(a)

246‌

6,613‌

SmallCap

S&P

600

Index

Fund

(a)

507‌

13

,214‌

$

13

7,438‌

Principal

Funds,

Inc.

Institutional

Class

-

53.

25

%

Bond

Market

Index

Fund

(a)

1,030‌

8,823‌

High

Income

Fund

(a)

365‌

2,950‌

LargeCap

S&P

500

Index

Fund

(a)

5,801‌

134

,639‌

$

146

,412‌

TOTAL

INVESTMENT

COMPANIES

$

28

3,850‌

Total

Investments

$

28

3,850‌

Other

Assets

and

Liabilities

-  (3.23)%

(8,878‌

)

TOTAL

NET

ASSETS

-

100.00%

$

27

4,972‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

68.96‌

%

International

Equity

Funds

29.99‌

%

Fixed

Income

Funds

4.28‌

%

Other

Assets

and

Liabilities

(3

.23‌

)%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

—‌

$

1

1,915‌

$

3

,1

40‌

$

8,823‌

Diversified

International

Fund

—‌

83

,489‌

18

,917‌

6

7,392‌

High

Income

Fund

—‌

3

,893‌

975‌

2,950‌

International

Small

Company

Fund

—‌

9,637‌

2,543‌

7

,362‌

LargeCap

S&P

500

Index

Fund

—‌

16

4,991‌

4

0,48

8‌

134

,639‌

MidCap

S&P

400

Index

Fund

—‌

45

,254‌

12

,409‌

35

,158‌

Origin

Emerging

Markets

Fund

—‌

9,519‌

2,209‌

7,699‌

Real

Estate

Securities

Fund

—‌

8,793‌

2

,475‌

6,613‌

SmallCap

S&P

600

Index

Fund

—‌

1

8,573‌

6,211‌

13

,214‌

$

—‌

$

35

6

,064‌

$

89,36

7‌

$

28

3,850‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

—‌

$

15‌

$

—‌

$

33‌

Diversified

International

Fund

—‌

118‌

—‌

2,702‌

High

Income

Fund

38‌

2‌

—‌

30‌

International

Small

Company

Fund

—‌

11‌

—‌

257‌

LargeCap

S&P

500

Index

Fund

—‌

458‌

—‌

9,678‌

MidCap

S&P

400

Index

Fund

—‌

(5‌)

—‌

2

,318‌

Origin

Emerging

Markets

Fund

—‌

9‌

—‌

380‌

Real

Estate

Securities

Fund

32‌

33‌

—‌

262‌

SmallCap

S&P

600

Index

Fund

—‌

(22‌)

—‌

874‌

$

70‌

$

619‌

$

—‌

$

1

6,534‌

Schedule

of

Investments

Principal

LifeTime

Hybrid

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

191

INVESTMENT

COMPANIES

-

100

.03

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

19

.39

%

Diversified

International

Fund

(a)

713,537‌

$

9,333‌

Diversified

Real

Asset

Fund

(a)

234,675‌

2,629‌

International

Small

Company

Fund

(a)

94,626‌

949‌

MidCap

S&P

400

Index

Fund

(a)

211,017‌

4,697‌

Origin

Emerging

Markets

Fund

(a)

103,578‌

1,047‌

SmallCap

S&P

600

Index

Fund

(a)

56,436‌

1,471‌

$

20,126‌

Principal

Funds,

Inc.

Institutional

Class

-

80

.64

%

Bond

Market

Index

Fund

(a)

4,075,415‌

34,926‌

High

Income

Fund

(a)

846,242‌

6,829‌

Inflation

Protection

Fund

(a)

824,887‌

6,459‌

LargeCap

S&P

500

Index

Fund

(a)

779,050‌

18,082‌

Short-Term

Income

Fund

(a)

1,498,260‌

17,425‌

$

83,721‌

TOTAL

INVESTMENT

COMPANIES

$

103,847‌

Total

Investments

$

103,847‌

Other

Assets

and

Liabilities

-  (0.03)%

(

26‌

)

TOTAL

NET

ASSETS

-

100.00%

$

103,821‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

63

.22‌

%

Domestic

Equity

Funds

23

.37‌

%

International

Equity

Funds

10

.91‌

%

Specialty

Funds

2

.53‌

%

Other

Assets

and

Liabilities

(

0

.03‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

31,202‌

$

8,311‌

$

5,705‌

$

34,926‌

Diversified

International

Fund

5,549‌

3,436‌

1,092‌

9,333‌

Diversified

Real

Asset

Fund

2,296‌

788‌

355‌

2,629‌

High

Income

Fund

6,001‌

1,803‌

1,135‌

6,829‌

Inflation

Protection

Fund

6,171‌

1,807‌

1,349‌

6,459‌

International

Small

Company

Fund

650‌

297‌

135‌

949‌

LargeCap

S&P

500

Index

Fund

15,478‌

3,943‌

3,987‌

18,082‌

MidCap

S&P

400

Index

Fund

4,034‌

1,271‌

864‌

4,697‌

Origin

Emerging

Markets

Fund

572‌

452‌

122‌

1,047‌

Short-Term

Income

Fund

14,162‌

5,400‌

2,456‌

17,425‌

SmallCap

S&P

600

Index

Fund

1,307‌

488‌

299‌

1,471‌

$

87,422‌

$

27,996‌

$

17,499‌

$

103,847‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

533‌

$

(

7‌

)

$

—‌

$

1,125‌

Diversified

International

Fund

76‌

8‌

—‌

1,432‌

Diversified

Real

Asset

Fund

100‌

—‌

141‌

(

100‌

)

High

Income

Fund

357‌

—‌

—‌

160‌

Inflation

Protection

Fund

361‌

(

2‌

)

—‌

(

168‌

)

International

Small

Company

Fund

10‌

—‌

—‌

137‌

LargeCap

S&P

500

Index

Fund

232‌

(

7‌

)

207‌

2,655‌

MidCap

S&P

400

Index

Fund

61‌

—‌

235‌

256‌

Origin

Emerging

Markets

Fund

21‌

1‌

—‌

144‌

Short-Term

Income

Fund

373‌

—‌

—‌

319‌

SmallCap

S&P

600

Index

Fund

19‌

(

1‌

)

119‌

(

24‌

)

$

2,143‌

$

(

8‌

)

$

702‌

$

5,936‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Strategic

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

192

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

55

.58

%

Blue

Chip

Fund

(a),(b)

865,824‌

$

30,711‌

Core

Fixed

Income

Fund

(a)

33,801,283‌

285,959‌

Diversified

International

Fund

(a)

3,569,141‌

46,684‌

Diversified

Real

Asset

Fund

(a)

1,817,812‌

20,360‌

International

Small

Company

Fund

(a)

769,778‌

7,721‌

LargeCap

Growth

Fund

I

(a),(b)

1,803,546‌

31,075‌

MidCap

Fund

(a),(b)

133,578‌

4,869‌

MidCap

Value

Fund

I

(a)

1,100,190‌

18,384‌

Origin

Emerging

Markets

Fund

(a)

1,238,383‌

12,520‌

SmallCap

Growth

Fund

I

(a),(b)

402,855‌

5,704‌

SmallCap

Value

Fund

II

(a)

494,408‌

5,938‌

$

469,925‌

Principal

Funds,

Inc.

Institutional

Class

-

44

.43

%

Equity

Income

Fund

(a)

752,150‌

28,018‌

High

Income

Fund

(a)

6,933,837‌

55,956‌

Inflation

Protection

Fund

(a)

6,741,556‌

52,786‌

LargeCap

S&P

500

Index

Fund

(a)

1,267,161‌

29,411‌

LargeCap

Value

Fund

III

(a)

1,523,375‌

27,634‌

MidCap

Growth

Fund

III

(a),(b)

1,151,689‌

13,809‌

Overseas

Fund

(a)

2,277,098‌

25,344‌

Short-Term

Income

Fund

(a)

12,273,697‌

142,743‌

$

375,701‌

TOTAL

INVESTMENT

COMPANIES

$

845,626‌

Total

Investments

$

845,626‌

Other

Assets

and

Liabilities

-  (0.01)%

(

43‌

)

TOTAL

NET

ASSETS

-

100.00%

$

845,583‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

63

.56‌

%

Domestic

Equity

Funds

23

.13‌

%

International

Equity

Funds

10

.91‌

%

Specialty

Funds

2

.41‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Principal

LifeTime

Strategic

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

193

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

11,668‌

$

9,397‌

$

3,815‌

$

30,711‌

Core

Fixed

Income

Fund

120,914‌

216,103‌

23,900‌

285,959‌

Diversified

International

Fund

13,369‌

38,703‌

2,961‌

46,684‌

Diversified

Real

Asset

Fund

8,662‌

12,748‌

1,450‌

20,360‌

Equity

Income

Fund

12,022‌

11,495‌

3,756‌

28,018‌

High

Income

Fund

23,040‌

43,352‌

4,534‌

55,956‌

Inflation

Protection

Fund

24,127‌

38,031‌

5,791‌

52,786‌

International

Small

Company

Fund

2,540‌

5,274‌

552‌

7,721‌

LargeCap

Growth

Fund

I

11,630‌

25,844‌

3,798‌

31,075‌

LargeCap

S&P

500

Index

Fund

11,924‌

9,187‌

3,780‌

29,411‌

LargeCap

Value

Fund

III

12,114‌

18,801‌

3,730‌

27,634‌

MidCap

Fund

1,907‌

1,413‌

597‌

4,869‌

MidCap

Growth

Fund

III

5,412‌

7,805‌

1,534‌

13,809‌

MidCap

Value

Fund

I

7,584‌

10,878‌

2,090‌

18,384‌

Origin

Emerging

Markets

Fund

3,237‌

10,873‌

725‌

12,520‌

Overseas

Fund

6,498‌

14,767‌

1,246‌

25,344‌

Short-Term

Income

Fund

53,323‌

101,219‌

10,031‌

142,743‌

SmallCap

Growth

Fund

I

2,321‌

2,149‌

718‌

5,704‌

SmallCap

Value

Fund

II

2,412‌

2,879‌

713‌

5,938‌

$

334,704‌

$

580,918‌

$

75,721‌

$

845,626‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

758‌

)

$

77‌

$

14,219‌

Core

Fixed

Income

Fund

4,068‌

(

1,413‌

)

—‌

(

25,745‌

)

Diversified

International

Fund

175‌

52‌

—‌

(

2,479‌

)

Diversified

Real

Asset

Fund

437‌

(

1‌

)

508‌

401‌

Equity

Income

Fund

294‌

(

168‌

)

417‌

8,425‌

High

Income

Fund

1,809‌

(

326‌

)

—‌

(

5,576‌

)

Inflation

Protection

Fund

1,326‌

(

164‌

)

—‌

(

3,417‌

)

International

Small

Company

Fund

39‌

—‌

—‌

459‌

LargeCap

Growth

Fund

I

—‌

(

57‌

)

1,098‌

(

2,544‌

)

LargeCap

S&P

500

Index

Fund

170‌

(

258‌

)

153‌

12,338‌

LargeCap

Value

Fund

III

192‌

(

29‌

)

884‌

478‌

MidCap

Fund

—‌

(

140‌

)

59‌

2,286‌

MidCap

Growth

Fund

III

—‌

117‌

97‌

2,009‌

MidCap

Value

Fund

I

112‌

4‌

402‌

2,008‌

Origin

Emerging

Markets

Fund

115‌

13‌

—‌

(

878‌

)

Overseas

Fund

199‌

12‌

423‌

5,313‌

Short-Term

Income

Fund

1,848‌

15‌

—‌

(

1,783‌

)

SmallCap

Growth

Fund

I

—‌

211‌

18‌

1,741‌

SmallCap

Value

Fund

II

66‌

27‌

185‌

1,333‌

$

10,850‌

$

(

2,863‌

)

$

4,321‌

$

8,588‌

Amounts

in

thousands.

Schedule

of

Investments

Real

Estate

Securities

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

194

INVESTMENT

COMPANIES

-

2

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

2

.03

%

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b)

118,660,804‌

$

118,661‌

TOTAL

INVESTMENT

COMPANIES

$

118,661‌

COMMON

STOCKS

-

98

.03

%

Shares

Held

Value

(000's)

Entertainment

-

0

.96

%

Marriott

Vacations

Worldwide

Corp

438,498‌

$

56,351‌

REITs

-

97

.07

%

Agree

Realty

Corp

1,054,306‌

68,298‌

Alexandria

Real

Estate

Equities

Inc

1,601,421‌

201,267‌

American

Homes

4

Rent

5,896,869‌

221,015‌

American

Tower

Corp

1,140,096‌

216,972‌

Apartment

Income

REIT

Corp

2,983,584‌

103,053‌

Apple

Hospitality

REIT

Inc

3,423,349‌

53,062‌

AvalonBay

Communities

Inc

1,561,091‌

294,500‌

Boston

Properties

Inc

646,600‌

43,083‌

Broadstone

Net

Lease

Inc

4,899,431‌

79,861‌

Cousins

Properties

Inc

2,756,086‌

67,331‌

CubeSmart

2,471,420‌

107,161‌

DiamondRock

Hospitality

Co

4,593,937‌

39,048‌

Digital

Realty

Trust

Inc

1,917,342‌

238,939‌

Equinix

Inc

289,464‌

234,443‌

Equity

LifeStyle

Properties

Inc

2,363,230‌

168,215‌

Equity

Residential

788,706‌

52,007‌

Essex

Property

Trust

Inc

930,542‌

226,633‌

Extra

Space

Storage

Inc

1,662,843‌

232,083‌

First

Industrial

Realty

Trust

Inc

2,763,481‌

142,872‌

Gaming

and

Leisure

Properties

Inc

2,709,297‌

128,583‌

Healthcare

Realty

Trust

Inc

3,366,874‌

65,755‌

InvenTrust

Properties

Corp

1,262,318‌

30,725‌

Invitation

Homes

Inc

6,492,516‌

230,484‌

Kilroy

Realty

Corp

1,827,839‌

65,254‌

National

Health

Investors

Inc

882,153‌

48,439‌

NETSTREIT

Corp

1,943,309‌

34,766‌

Prologis

Inc

3,485,434‌

434,808‌

Public

Storage

426,548‌

120,180‌

Regency

Centers

Corp

2,595,424‌

170,078‌

Rexford

Industrial

Realty

Inc

3,619,276‌

199,386‌

Sabra

Health

Care

REIT

Inc

7,049,294‌

91,570‌

Saul

Centers

Inc

465,312‌

17,938‌

Simon

Property

Group

Inc

684,559‌

85,296‌

Sun

Communities

Inc

1,606,220‌

209,290‌

Terreno

Realty

Corp

1,624,419‌

96,393‌

Ventas

Inc

6,633,412‌

321,853‌

VICI

Properties

Inc

8,325,882‌

262,099‌

Welltower

Inc

3,452,235‌

283,601‌

$

5,686,341‌

TOTAL

COMMON

STOCKS

$

5,742,692‌

Total

Investments

$

5,861,353‌

Other

Assets

and

Liabilities

-  (0.06)%

(

3,730‌

)

TOTAL

NET

ASSETS

-

100.00%

$

5,857,623‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

1-day

yield

shown

is

as

of

period

end.

Portfolio

Summary

Sector

Percent

Financial

97

.07‌

%

Money

Market

Funds

2

.03‌

%

Consumer,

Cyclical

0

.96‌

%

Other

Assets

and

Liabilities

(

0

.06‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

634,635‌

$

515,974‌

$

118,661‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

141,406‌

171,305‌

312,711‌

—‌

$

141,406‌

$

805,940‌

$

828,685‌

$

118,661‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

2,747‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

140‌

—‌

—‌

—‌

$

2,887‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Balanced

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

195

INVESTMENT

COMPANIES

-

100

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.48

%

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b)

64,966,335‌

$

64,966‌

Principal

Exchange-Traded

Funds

-

9

.22

%

Principal

U.S.

Mega-Cap

ETF

(a)

7,954,257‌

359,055‌

Principal

U.S.

Small-Cap

ETF

(a)

1,049,700‌

46,610‌

$

405,665‌

Principal

Funds,

Inc.

Class

R-6

-

49

.88

%

Blue

Chip

Fund

(a),(c)

11,674,791‌

414,105‌

Core

Fixed

Income

Fund

(a)

70,569,185‌

597,015‌

Diversified

International

Fund

(a)

15,491,381‌

202,627‌

Diversified

Real

Asset

Fund

(a)

11,474,617‌

128,516‌

High

Yield

Fund

(a)

23,981,352‌

155,639‌

International

Equity

Index

Fund

(a)

3,845,502‌

43,223‌

International

Small

Company

Fund

(a)

4,595,793‌

46,096‌

LargeCap

Growth

Fund

I

(a),(c)

9,255,951‌

159,480‌

MidCap

Fund

(a),(c)

2,116,514‌

77,147‌

Origin

Emerging

Markets

Fund

(a)

11,022,147‌

111,434‌

Real

Estate

Securities

Fund

(a)

1,614,440‌

43,364‌

Small-MidCap

Dividend

Income

Fund

(a)

5,283,186‌

90,607‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a)

14,449,485‌

125,277‌

$

2,194,530‌

Principal

Funds,

Inc.

Institutional

Class

-

39

.45

%

Bond

Market

Index

Fund

(a)

42,344,436‌

362,892‌

Equity

Income

Fund

(a)

8,563,567‌

318,993‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a)

6,593,109‌

58,547‌

Government

&

High

Quality

Bond

Fund

(a)

6,756,397‌

59,929‌

Inflation

Protection

Fund

(a)

9,550,784‌

74,783‌

LargeCap

S&P

500

Index

Fund

(a)

4,077,791‌

94,645‌

LargeCap

Value

Fund

III

(a)

9,015,800‌

163,547‌

Overseas

Fund

(a)

9,736,469‌

108,367‌

Principal

Capital

Appreciation

Fund

(a)

5,584,489‌

366,454‌

Short-Term

Income

Fund

(a)

10,952,738‌

127,380‌

$

1,735,537‌

TOTAL

INVESTMENT

COMPANIES

$

4,400,698‌

Total

Investments

$

4,400,698‌

Other

Assets

and

Liabilities

-  (0.03)%

(

1,494‌

)

TOTAL

NET

ASSETS

-

100.00%

$

4,399,204‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

1-day

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

48

.50‌

%

Fixed

Income

Funds

35

.50‌

%

International

Equity

Funds

11

.63‌

%

Specialty

Funds

2

.92‌

%

Money

Market

Funds

1

.48‌

%

Other

Assets

and

Liabilities

(

0

.03‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Balanced

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

196

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

462,224‌

$

17,269‌

$

159,333‌

$

414,105‌

Bond

Market

Index

Fund

348,711‌

14,138‌

12,211‌

362,892‌

Core

Fixed

Income

Fund

435,431‌

159,540‌

8,496‌

597,015‌

Diversified

International

Fund

188,886‌

5,027‌

30,399‌

202,627‌

Diversified

Real

Asset

Fund

182,301‌

19,800‌

63,939‌

128,516‌

Equity

Income

Fund

417,395‌

24,378‌

139,140‌

318,993‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

50,715‌

4,191‌

2,549‌

58,547‌

Global

Real

Estate

Securities

Fund

18,036‌

220‌

19,684‌

—‌

Government

&

High

Quality

Bond

Fund

105,004‌

3,198‌

53,007‌

59,929‌

High

Yield

Fund

110,274‌

59,390‌

18,982‌

155,639‌

Inflation

Protection

Fund

84,559‌

6,492‌

13,643‌

74,783‌

International

Equity

Index

Fund

—‌

42,166‌

405‌

43,223‌

International

Small

Company

Fund

40,658‌

982‌

3,133‌

46,096‌

LargeCap

Growth

Fund

I

70,015‌

76,176‌

9,856‌

159,480‌

LargeCap

S&P

500

Index

Fund

—‌

84,194‌

434‌

94,645‌

LargeCap

Value

Fund

III

126,011‌

86,421‌

51,152‌

163,547‌

MidCap

Fund

179,931‌

6,124‌

122,323‌

77,147‌

Origin

Emerging

Markets

Fund

136,502‌

17,875‌

67,439‌

111,434‌

Overseas

Fund

63,068‌

31,640‌

4,835‌

108,367‌

Principal

Capital

Appreciation

Fund

329,698‌

8,132‌

28,419‌

366,454‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

—‌

143,081‌

78,115‌

64,966‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

41,450‌

211‌

41,661‌

—‌

Principal

U.S.

Mega-Cap

ETF

242,853‌

49,434‌

—‌

359,055‌

Principal

U.S.

Small-Cap

ETF

53,999‌

—‌

11,355‌

46,610‌

Real

Estate

Securities

Fund

—‌

43,380‌

—‌

43,364‌

Short-Term

Income

Fund

126,548‌

5,487‌

7,292‌

127,380‌

Small-MidCap

Dividend

Income

Fund

—‌

87,007‌

2,443‌

90,607‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

196,310‌

8,990‌

82,181‌

125,277‌

$

4,010,579‌

$

1,004,943‌

$

1,032,426‌

$

4,400,698‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

1,291‌

$

3,224‌

$

92,654‌

Bond

Market

Index

Fund

5,828‌

(

498‌

)

—‌

12,752‌

Core

Fixed

Income

Fund

13,225‌

(

1,218‌

)

—‌

11,758‌

Diversified

International

Fund

2,222‌

(

4,242‌

)

—‌

43,355‌

Diversified

Real

Asset

Fund

6,922‌

(

11,319‌

)

10,734‌

1,673‌

Equity

Income

Fund

6,642‌

24,784‌

15,379‌

(

8,424‌

)

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

2,559‌

(

541‌

)

—‌

6,731‌

Global

Real

Estate

Securities

Fund

220‌

3,909‌

—‌

(

2,481‌

)

Government

&

High

Quality

Bond

Fund

1,627‌

(

4,371‌

)

—‌

9,105‌

High

Yield

Fund

5,092‌

(

2,274‌

)

—‌

7,231‌

Inflation

Protection

Fund

5,059‌

(

1,544‌

)

—‌

(

1,081‌

)

International

Equity

Index

Fund

—‌

1‌

—‌

1,461‌

International

Small

Company

Fund

558‌

(

146‌

)

—‌

7,735‌

LargeCap

Growth

Fund

I

—‌

(

3,745‌

)

7,007‌

26,890‌

LargeCap

S&P

500

Index

Fund

—‌

34‌

—‌

10,851‌

LargeCap

Value

Fund

III

2,095‌

(

6,172‌

)

9,703‌

8,439‌

MidCap

Fund

—‌

(

21,179‌

)

5,534‌

34,594‌

Origin

Emerging

Markets

Fund

4,373‌

(

23,504‌

)

—‌

48,000‌

Overseas

Fund

1,737‌

(

335‌

)

3,700‌

18,829‌

Principal

Capital

Appreciation

Fund

3,196‌

(

6,506‌

)

—‌

63,549‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

2,029‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

172‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

3,180‌

—‌

—‌

66,768‌

Principal

U.S.

Small-Cap

ETF

410‌

4,398‌

—‌

(

432‌

)

Real

Estate

Securities

Fund

—‌

—‌

—‌

(

16‌

)

Short-Term

Income

Fund

2,794‌

(

314‌

)

—‌

2,951‌

Small-MidCap

Dividend

Income

Fund

708‌

(

79‌

)

—‌

6,122‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

7,111‌

(

14,036‌

)

—‌

16,194‌

$

77,759‌

$

(

67,606‌

)

$

55,281‌

$

485,208‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Conservative

Balanced

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

197

INVESTMENT

COMPANIES

-

100

.04

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.50

%

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b)

8,818,837‌

$

8,819‌

Principal

Exchange-Traded

Funds

-

5

.96

%

Principal

U.S.

Mega-Cap

ETF

(a)

1,993,648‌

89,993‌

Principal

U.S.

Small-Cap

ETF

(a)

318,700‌

14,151‌

$

104,144‌

Principal

Funds,

Inc.

Class

R-6

-

50

.66

%

Blue

Chip

Fund

(a),(c)

3,109,692‌

110,301‌

Core

Fixed

Income

Fund

(a)

49,274,311‌

416,861‌

Diversified

International

Fund

(a)

3,456,088‌

45,206‌

Diversified

Real

Asset

Fund

(a)

3,734,857‌

41,830‌

High

Yield

Fund

(a)

10,542,132‌

68,418‌

International

Equity

Index

Fund

(a)

1,324,557‌

14,888‌

International

Small

Company

Fund

(a)

1,117,510‌

11,209‌

LargeCap

Growth

Fund

I

(a),(c)

1,373,005‌

23,657‌

MidCap

Fund

(a),(c)

501,422‌

18,277‌

Origin

Emerging

Markets

Fund

(a)

3,128,521‌

31,629‌

Real

Estate

Securities

Fund

(a)

481,950‌

12,945‌

Small-MidCap

Dividend

Income

Fund

(a)

1,299,277‌

22,282‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a)

7,777,357‌

67,430‌

$

884,933‌

Principal

Funds,

Inc.

Institutional

Class

-

42

.92

%

Bond

Market

Index

Fund

(a)

29,233,849‌

250,534‌

Equity

Income

Fund

(a)

3,020,505‌

112,514‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a)

4,557,179‌

40,468‌

Government

&

High

Quality

Bond

Fund

(a)

4,692,749‌

41,625‌

Inflation

Protection

Fund

(a)

6,886,769‌

53,923‌

LargeCap

S&P

500

Index

Fund

(a)

1,259,698‌

29,238‌

LargeCap

Value

Fund

III

(a)

1,207,470‌

21,903‌

Overseas

Fund

(a)

1,688,741‌

18,796‌

Principal

Capital

Appreciation

Fund

(a)

1,548,108‌

101,587‌

Short-Term

Income

Fund

(a)

6,806,411‌

79,158‌

$

749,746‌

TOTAL

INVESTMENT

COMPANIES

$

1,747,642‌

Total

Investments

$

1,747,642‌

Other

Assets

and

Liabilities

-  (0.04)%

(

759‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,746,883‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

1-day

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

58

.30‌

%

Domestic

Equity

Funds

31

.87‌

%

International

Equity

Funds

6

.97‌

%

Specialty

Funds

2

.40‌

%

Money

Market

Funds

0

.50‌

%

Other

Assets

and

Liabilities

(

0

.04‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Conservative

Balanced

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

198

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

134,086‌

$

5,678‌

$

55,334‌

$

110,301‌

Bond

Market

Index

Fund

239,728‌

12,428‌

10,013‌

250,534‌

Core

Fixed

Income

Fund

313,677‌

108,578‌

13,213‌

416,861‌

Diversified

International

Fund

46,853‌

1,714‌

12,610‌

45,206‌

Diversified

Real

Asset

Fund

45,193‌

5,665‌

7,005‌

41,830‌

Equity

Income

Fund

148,074‌

10,912‌

52,287‌

112,514‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

37,368‌

2,696‌

4,091‌

40,468‌

Global

Real

Estate

Securities

Fund

9,175‌

224‌

10,103‌

—‌

Government

&

High

Quality

Bond

Fund

79,116‌

2,516‌

43,233‌

41,625‌

High

Yield

Fund

48,844‌

27,826‌

10,449‌

68,418‌

Inflation

Protection

Fund

54,988‌

4,779‌

4,171‌

53,923‌

International

Equity

Index

Fund

—‌

14,521‌

135‌

14,888‌

International

Small

Company

Fund

10,469‌

486‌

1,628‌

11,209‌

LargeCap

Growth

Fund

I

—‌

20,722‌

482‌

23,657‌

LargeCap

S&P

500

Index

Fund

—‌

26,010‌

100‌

29,238‌

LargeCap

Value

Fund

III

—‌

20,854‌

394‌

21,903‌

MidCap

Fund

44,649‌

2,225‌

31,838‌

18,277‌

Origin

Emerging

Markets

Fund

34,023‌

7,076‌

15,810‌

31,629‌

Overseas

Fund

10,712‌

5,690‌

989‌

18,796‌

Principal

Capital

Appreciation

Fund

89,850‌

3,571‌

7,496‌

101,587‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

—‌

40,829‌

32,010‌

8,819‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

15,062‌

77‌

15,139‌

—‌

Principal

U.S.

Mega-Cap

ETF

60,311‌

13,012‌

—‌

89,993‌

Principal

U.S.

Small-Cap

ETF

13,865‌

—‌

928‌

14,151‌

Real

Estate

Securities

Fund

—‌

12,950‌

—‌

12,945‌

Short-Term

Income

Fund

77,296‌

4,393‌

4,140‌

79,158‌

Small-MidCap

Dividend

Income

Fund

—‌

20,938‌

177‌

22,282‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

102,291‌

5,071‌

41,055‌

67,430‌

$

1,615,630‌

$

381,441‌

$

374,830‌

$

1,747,642‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

2,577‌

)

$

936‌

$

28,448‌

Bond

Market

Index

Fund

4,016‌

(

481‌

)

—‌

8,872‌

Core

Fixed

Income

Fund

9,357‌

(

2,191‌

)

—‌

10,010‌

Diversified

International

Fund

550‌

(

1,671‌

)

—‌

10,920‌

Diversified

Real

Asset

Fund

1,797‌

(

1,044‌

)

2,664‌

(

979‌

)

Equity

Income

Fund

2,349‌

(

2,329‌

)

5,453‌

8,144‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

1,832‌

(

867‌

)

—‌

5,362‌

Global

Real

Estate

Securities

Fund

111‌

1,629‌

—‌

(

925‌

)

Government

&

High

Quality

Bond

Fund

1,129‌

(

4,770‌

)

—‌

7,996‌

High

Yield

Fund

2,197‌

(

947‌

)

—‌

3,144‌

Inflation

Protection

Fund

3,274‌

(

429‌

)

—‌

(

1,244‌

)

International

Equity

Index

Fund

—‌

(

1‌

)

—‌

503‌

International

Small

Company

Fund

139‌

(

122‌

)

—‌

2,004‌

LargeCap

Growth

Fund

I

—‌

18‌

—‌

3,399‌

LargeCap

S&P

500

Index

Fund

—‌

2‌

—‌

3,326‌

LargeCap

Value

Fund

III

—‌

4‌

—‌

1,439‌

MidCap

Fund

—‌

(

5,249‌

)

1,380‌

8,490‌

Origin

Emerging

Markets

Fund

1,094‌

(

5,745‌

)

—‌

12,085‌

Overseas

Fund

295‌

(

50‌

)

628‌

3,433‌

Principal

Capital

Appreciation

Fund

874‌

(

886‌

)

—‌

16,548‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

464‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

63‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

793‌

—‌

—‌

16,670‌

Principal

U.S.

Small-Cap

ETF

112‌

360‌

—‌

854‌

Real

Estate

Securities

Fund

—‌

—‌

—‌

(

5‌

)

Short-Term

Income

Fund

1,717‌

(

198‌

)

—‌

1,807‌

Small-MidCap

Dividend

Income

Fund

167‌

(

13‌

)

—‌

1,534‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

3,737‌

(

7,225‌

)

—‌

8,348‌

$

36,067‌

$

(

34,782‌

)

$

11,061‌

$

160,183‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Conservative

Growth

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

199

INVESTMENT

COMPANIES

-

100

.04

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.30

%

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b)

39,144,120‌

$

39,144‌

Principal

Exchange-Traded

Funds

-

11

.94

%

Principal

U.S.

Mega-Cap

ETF

(a)

7,002,445‌

316,091‌

Principal

U.S.

Small-Cap

ETF

(a)

955,800‌

42,440‌

$

358,531‌

Principal

Funds,

Inc.

Class

R-6

-

48

.22

%

Blue

Chip

Fund

(a),(c)

10,782,946‌

382,471‌

Core

Fixed

Income

Fund

(a)

20,396,437‌

172,554‌

Diversified

International

Fund

(a)

14,243,616‌

186,306‌

Diversified

Real

Asset

Fund

(a)

7,612,660‌

85,262‌

High

Yield

Fund

(a)

6,648,184‌

43,147‌

International

Equity

Index

Fund

(a)

5,162,625‌

58,028‌

International

Small

Company

Fund

(a)

4,200,308‌

42,129‌

LargeCap

Growth

Fund

I

(a),(c)

8,087,097‌

139,341‌

MidCap

Fund

(a),(c)

1,808,885‌

65,934‌

Origin

Emerging

Markets

Fund

(a)

10,362,413‌

104,764‌

Real

Estate

Securities

Fund

(a)

1,649,795‌

44,313‌

Small-MidCap

Dividend

Income

Fund

(a)

5,052,104‌

86,644‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a)

4,366,551‌

37,858‌

$

1,448,751‌

Principal

Funds,

Inc.

Institutional

Class

-

38

.58

%

Bond

Market

Index

Fund

(a)

11,976,581‌

102,639‌

Equity

Income

Fund

(a)

8,550,574‌

318,509‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a)

2,611,991‌

23,194‌

Government

&

High

Quality

Bond

Fund

(a)

2,069,552‌

18,357‌

Inflation

Protection

Fund

(a)

2,411,657‌

18,883‌

LargeCap

S&P

500

Index

Fund

(a)

3,461,893‌

80,351‌

LargeCap

Value

Fund

III

(a)

8,452,667‌

153,331‌

Overseas

Fund

(a)

6,716,676‌

74,757‌

Principal

Capital

Appreciation

Fund

(a)

5,148,285‌

337,830‌

Short-Term

Income

Fund

(a)

2,693,874‌

31,330‌

$

1,159,181‌

TOTAL

INVESTMENT

COMPANIES

$

3,005,607‌

Total

Investments

$

3,005,607‌

Other

Assets

and

Liabilities

-  (0.04)%

(

1,120‌

)

TOTAL

NET

ASSETS

-

100.00%

$

3,004,487‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

1-day

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

65

.48‌

%

International

Equity

Funds

15

.51‌

%

Fixed

Income

Funds

14

.91‌

%

Specialty

Funds

2

.84‌

%

Money

Market

Funds

1

.30‌

%

Other

Assets

and

Liabilities

(

0

.04‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Conservative

Growth

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

200

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

415,457‌

$

11,277‌

$

130,232‌

$

382,471‌

Bond

Market

Index

Fund

98,574‌

3,729‌

3,160‌

102,639‌

Core

Fixed

Income

Fund

132,873‌

41,439‌

5,158‌

172,554‌

Diversified

International

Fund

180,883‌

3,410‌

34,868‌

186,306‌

Diversified

Real

Asset

Fund

130,058‌

13,793‌

51,275‌

85,262‌

Equity

Income

Fund

374,988‌

23,323‌

96,213‌

318,509‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

20,977‌

1,090‌

1,417‌

23,194‌

Global

Real

Estate

Securities

Fund

12,119‌

329‌

13,409‌

—‌

Government

&

High

Quality

Bond

Fund

27,520‌

743‌

11,003‌

18,357‌

High

Yield

Fund

30,903‌

16,574‌

5,718‌

43,147‌

Inflation

Protection

Fund

20,114‌

1,694‌

2,384‌

18,883‌

International

Equity

Index

Fund

—‌

56,665‌

598‌

58,028‌

International

Small

Company

Fund

36,910‌

980‌

2,662‌

42,129‌

LargeCap

Growth

Fund

I

70,100‌

58,695‌

9,522‌

139,341‌

LargeCap

S&P

500

Index

Fund

—‌

71,383‌

270‌

80,351‌

LargeCap

Value

Fund

III

116,273‌

68,078‌

32,939‌

153,331‌

MidCap

Fund

171,041‌

6,349‌

123,443‌

65,934‌

Origin

Emerging

Markets

Fund

123,270‌

18,160‌

59,130‌

104,764‌

Overseas

Fund

47,908‌

17,147‌

4,483‌

74,757‌

Principal

Capital

Appreciation

Fund

305,429‌

6,051‌

26,153‌

337,830‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

—‌

126,524‌

87,380‌

39,144‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

24,693‌

125‌

24,818‌

—‌

Principal

U.S.

Mega-Cap

ETF

223,366‌

32,835‌

—‌

316,091‌

Principal

U.S.

Small-Cap

ETF

57,290‌

—‌

18,427‌

42,440‌

Real

Estate

Securities

Fund

—‌

44,330‌

—‌

44,313‌

Short-Term

Income

Fund

30,935‌

1,352‌

1,613‌

31,330‌

Small-MidCap

Dividend

Income

Fund

—‌

83,458‌

2,630‌

86,644‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

54,755‌

2,500‌

19,914‌

37,858‌

$

2,706,436‌

$

712,033‌

$

768,819‌

$

3,005,607‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

4,448‌

)

$

2,904‌

$

90,417‌

Bond

Market

Index

Fund

1,667‌

(

118‌

)

—‌

3,614‌

Core

Fixed

Income

Fund

3,919‌

(

838‌

)

—‌

4,238‌

Diversified

International

Fund

2,104‌

(

1,929‌

)

—‌

38,810‌

Diversified

Real

Asset

Fund

4,908‌

(

9,425‌

)

7,673‌

2,111‌

Equity

Income

Fund

6,174‌

(

1,016‌

)

13,833‌

17,427‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

1,047‌

(

290‌

)

—‌

2,834‌

Global

Real

Estate

Securities

Fund

150‌

515‌

—‌

446‌

Government

&

High

Quality

Bond

Fund

465‌

(

1,164‌

)

—‌

2,261‌

High

Yield

Fund

1,419‌

(

709‌

)

—‌

2,097‌

Inflation

Protection

Fund

1,112‌

(

102‌

)

—‌

(

439‌

)

International

Equity

Index

Fund

—‌

(

1‌

)

—‌

1,962‌

International

Small

Company

Fund

506‌

(

551‌

)

—‌

7,452‌

LargeCap

Growth

Fund

I

—‌

(

3,534‌

)

7,027‌

23,602‌

LargeCap

S&P

500

Index

Fund

—‌

25‌

—‌

9,213‌

LargeCap

Value

Fund

III

1,926‌

(

3,968‌

)

8,936‌

5,887‌

MidCap

Fund

—‌

(

21,068‌

)

5,294‌

33,055‌

Origin

Emerging

Markets

Fund

3,983‌

(

21,358‌

)

—‌

43,822‌

Overseas

Fund

1,318‌

(

456‌

)

2,814‌

14,641‌

Principal

Capital

Appreciation

Fund

2,964‌

(

6,280‌

)

—‌

58,783‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

1,719‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

103‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

2,877‌

—‌

—‌

59,890‌

Principal

U.S.

Small-Cap

ETF

413‌

7,139‌

—‌

(

3,562‌

)

Real

Estate

Securities

Fund

—‌

—‌

—‌

(

17‌

)

Short-Term

Income

Fund

690‌

(

87‌

)

—‌

743‌

Small-MidCap

Dividend

Income

Fund

686‌

(

107‌

)

—‌

5,923‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

2,047‌

(

3,592‌

)

—‌

4,109‌

$

42,197‌

$

(

73,362‌

)

$

48,481‌

$

429,319‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Flexible

Income

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

201

INVESTMENT

COMPANIES

-

100

.05

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.69

%

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b)

17,073,761‌

$

17,074‌

Principal

Exchange-Traded

Funds

-

5

.49

%

Principal

Active

High

Yield

ETF

(a)

2,073,084‌

38,228‌

Principal

U.S.

Mega-Cap

ETF

(a)

2,149,095‌

97,010‌

$

135,238‌

Principal

Funds,

Inc.

Class

R-6

-

46

.00

%

Blue

Chip

Fund

(a),(c)

1,514,634‌

53,724‌

Core

Fixed

Income

Fund

(a)

84,938,584‌

718,580‌

Diversified

International

Fund

(a)

5,019,462‌

65,655‌

Global

Real

Estate

Securities

Fund

(a)

1,387,183‌

12,554‌

High

Yield

Fund

(a)

12,357,616‌

80,201‌

LargeCap

Growth

Fund

I

(a),(c)

1,569,309‌

27,039‌

Origin

Emerging

Markets

Fund

(a)

1,280,757‌

12,949‌

Real

Estate

Securities

Fund

(a)

457,015‌

12,275‌

Small-MidCap

Dividend

Income

Fund

(a)

2,973,273‌

50,992‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a)

11,457,334‌

99,335‌

$

1,133,304‌

Principal

Funds,

Inc.

Institutional

Class

-

47

.87

%

Bond

Market

Index

Fund

(a)

61,012,851‌

522,880‌

Equity

Income

Fund

(a)

2,245,803‌

83,656‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a)

5,941,621‌

52,761‌

Government

&

High

Quality

Bond

Fund

(a)

12,041,015‌

106,804‌

Inflation

Protection

Fund

(a)

14,571,481‌

114,095‌

LargeCap

S&P

500

Index

Fund

(a)

1,197,537‌

27,795‌

LargeCap

Value

Fund

III

(a)

1,398,651‌

25,371‌

Principal

Capital

Appreciation

Fund

(a)

1,476,892‌

96,914‌

Short-Term

Income

Fund

(a)

12,800,180‌

148,866‌

$

1,179,142‌

TOTAL

INVESTMENT

COMPANIES

$

2,464,758‌

Total

Investments

$

2,464,758‌

Other

Assets

and

Liabilities

-  (0.05)%

(

1,309‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,463,449‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

1-day

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Fixed

Income

Funds

76

.38‌

%

Domestic

Equity

Funds

19

.28‌

%

International

Equity

Funds

3

.70‌

%

Money

Market

Funds

0

.69‌

%

Other

Assets

and

Liabilities

(

0

.05‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Flexible

Income

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

202

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

96,311‌

$

1,457‌

$

59,152‌

$

53,724‌

Bond

Market

Index

Fund

504,952‌

34,721‌

34,212‌

522,880‌

Core

Fixed

Income

Fund

638,270‌

107,299‌

45,028‌

718,580‌

Diversified

International

Fund

51,829‌

9,241‌

6,764‌

65,655‌

Equity

Income

Fund

160,898‌

8,333‌

90,130‌

83,656‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

47,215‌

2,865‌

3,014‌

52,761‌

Global

Real

Estate

Securities

Fund

15,109‌

216‌

3,952‌

12,554‌

Government

&

High

Quality

Bond

Fund

159,565‌

3,605‌

62,266‌

106,804‌

High

Yield

Fund

34,379‌

46,049‌

2,072‌

80,201‌

Inflation

Protection

Fund

122,655‌

8,040‌

12,915‌

114,095‌

LargeCap

Growth

Fund

I

—‌

24,785‌

1,816‌

27,039‌

LargeCap

S&P

500

Index

Fund

—‌

24,815‌

228‌

27,795‌

LargeCap

Value

Fund

III

—‌

24,877‌

1,196‌

25,371‌

Origin

Emerging

Markets

Fund

16,968‌

3,181‌

10,170‌

12,949‌

Principal

Active

High

Yield

ETF

51,184‌

—‌

14,636‌

38,228‌

Principal

Capital

Appreciation

Fund

93,156‌

1,370‌

13,084‌

96,914‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

—‌

45,594‌

28,520‌

17,074‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

22,788‌

687‌

23,475‌

—‌

Principal

U.S.

Mega-Cap

ETF

62,817‌

16,478‌

—‌

97,010‌

Real

Estate

Securities

Fund

—‌

12,280‌

—‌

12,275‌

Short-Term

Income

Fund

151,067‌

4,539‌

9,889‌

148,866‌

Small-MidCap

Dividend

Income

Fund

32,564‌

20,151‌

5,156‌

50,992‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

184,049‌

6,857‌

94,181‌

99,335‌

$

2,445,776‌

$

407,440‌

$

521,856‌

$

2,464,758‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

2,252‌

)

$

665‌

$

17,360‌

Bond

Market

Index

Fund

8,336‌

(

1,542‌

)

—‌

18,961‌

Core

Fixed

Income

Fund

17,004‌

(

7,529‌

)

—‌

25,568‌

Diversified

International

Fund

606‌

(

422‌

)

—‌

11,771‌

Equity

Income

Fund

2,222‌

(

3,531‌

)

5,828‌

8,086‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

2,335‌

(

691‌

)

—‌

6,386‌

Global

Real

Estate

Securities

Fund

180‌

489‌

—‌

692‌

Government

&

High

Quality

Bond

Fund

2,681‌

(

8,146‌

)

—‌

14,046‌

High

Yield

Fund

1,904‌

(

163‌

)

—‌

2,008‌

Inflation

Protection

Fund

7,276‌

(

1,357‌

)

—‌

(

2,328‌

)

LargeCap

Growth

Fund

I

—‌

173‌

—‌

3,897‌

LargeCap

S&P

500

Index

Fund

—‌

20‌

—‌

3,188‌

LargeCap

Value

Fund

III

—‌

25‌

—‌

1,665‌

Origin

Emerging

Markets

Fund

535‌

(

5,027‌

)

—‌

7,997‌

Principal

Active

High

Yield

ETF

2,168‌

(

317‌

)

—‌

1,997‌

Principal

Capital

Appreciation

Fund

905‌

(

2,773‌

)

—‌

18,245‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

691‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

96‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

837‌

—‌

—‌

17,715‌

Real

Estate

Securities

Fund

—‌

—‌

—‌

(

5‌

)

Short-Term

Income

Fund

3,303‌

(

484‌

)

—‌

3,633‌

Small-MidCap

Dividend

Income

Fund

828‌

(

730‌

)

1,324‌

4,163‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

6,141‌

(

16,643‌

)

—‌

19,253‌

$

58,048‌

$

(

50,900‌

)

$

7,817‌

$

184,298‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Strategic

Growth

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

203

INVESTMENT

COMPANIES

-

100

.04

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.77

%

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b)

15,849,847‌

$

15,850‌

Principal

Exchange-Traded

Funds

-

13

.17

%

Principal

U.S.

Mega-Cap

ETF

(a)

5,220,800‌

235,667‌

Principal

U.S.

Small-Cap

ETF

(a)

821,500‌

36,477‌

$

272,144‌

Principal

Funds,

Inc.

Class

R-6

-

44

.83

%

Blue

Chip

Fund

(a),(c)

8,645,734‌

306,664‌

Diversified

International

Fund

(a)

10,007,003‌

130,892‌

Diversified

Real

Asset

Fund

(a)

4,541,496‌

50,865‌

International

Equity

Index

Fund

(a)

4,635,259‌

52,100‌

International

Small

Company

Fund

(a)

4,858,553‌

48,731‌

LargeCap

Growth

Fund

I

(a),(c)

6,455,516‌

111,229‌

MidCap

Fund

(a),(c)

1,110,679‌

40,484‌

Origin

Emerging

Markets

Fund

(a)

9,261,580‌

93,635‌

Real

Estate

Securities

Fund

(a)

376,256‌

10,106‌

Small-MidCap

Dividend

Income

Fund

(a)

4,741,710‌

81,320‌

$

926,026‌

Principal

Funds,

Inc.

Institutional

Class

-

41

.27

%

Bond

Market

Index

Fund

(a)

4,823,743‌

41,339‌

Equity

Income

Fund

(a)

6,561,521‌

244,417‌

LargeCap

S&P

500

Index

Fund

(a)

2,786,936‌

64,685‌

LargeCap

Value

Fund

III

(a)

6,756,274‌

122,559‌

Overseas

Fund

(a)

9,195,107‌

102,341‌

Principal

Capital

Appreciation

Fund

(a)

4,222,869‌

277,105‌

$

852,446‌

TOTAL

INVESTMENT

COMPANIES

$

2,066,466‌

Total

Investments

$

2,066,466‌

Other

Assets

and

Liabilities

-  (0.04)%

(

804‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,065,662‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

1-day

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary

Fund

Type

Percent

Domestic

Equity

Funds

74

.10‌

%

International

Equity

Funds

20

.71‌

%

Specialty

Funds

2

.46‌

%

Fixed

Income

Funds

2

.00‌

%

Money

Market

Funds

0

.77‌

%

Other

Assets

and

Liabilities

(

0

.04‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Strategic

Growth

Portfolio

July

31,

2023

(unaudited)

See

accompanying

notes.

204

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

306,500‌

$

18,599‌

$

85,268‌

$

306,664‌

Bond

Market

Index

Fund

51,755‌

1,764‌

14,197‌

41,339‌

Diversified

International

Fund

128,176‌

3,041‌

26,264‌

130,892‌

Diversified

Real

Asset

Fund

47,373‌

6,571‌

1,200‌

50,865‌

Equity

Income

Fund

276,930‌

20,877‌

66,026‌

244,417‌

International

Equity

Index

Fund

—‌

50,687‌

349‌

52,100‌

International

Small

Company

Fund

41,923‌

1,383‌

2,479‌

48,731‌

LargeCap

Growth

Fund

I

56,726‌

44,825‌

6,338‌

111,229‌

LargeCap

S&P

500

Index

Fund

—‌

57,934‌

707‌

64,685‌

LargeCap

Value

Fund

III

94,002‌

52,380‌

25,267‌

122,559‌

MidCap

Fund

124,290‌

5,453‌

97,395‌

40,484‌

Origin

Emerging

Markets

Fund

109,410‌

14,683‌

50,505‌

93,635‌

Overseas

Fund

71,864‌

17,522‌

7,040‌

102,341‌

Principal

Capital

Appreciation

Fund

241,878‌

5,619‌

12,922‌

277,105‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

—‌

50,830‌

34,980‌

15,850‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

11,978‌

61‌

12,039‌

—‌

Principal

U.S.

Mega-Cap

ETF

166,522‌

24,495‌

—‌

235,667‌

Principal

U.S.

Small-Cap

ETF

50,014‌

—‌

16,609‌

36,477‌

Real

Estate

Securities

Fund

—‌

10,110‌

—‌

10,106‌

Small-MidCap

Dividend

Income

Fund

—‌

77,823‌

2,014‌

81,320‌

$

1,779,341‌

$

464,657‌

$

461,599‌

$

2,066,466‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

6,627‌

)

$

2,151‌

$

73,460‌

Bond

Market

Index

Fund

859‌

(

405‌

)

—‌

2,422‌

Diversified

International

Fund

1,491‌

(

5,114‌

)

—‌

31,053‌

Diversified

Real

Asset

Fund

1,947‌

(

170‌

)

2,818‌

(

1,709‌

)

Equity

Income

Fund

4,645‌

(

2,173‌

)

10,307‌

14,809‌

International

Equity

Index

Fund

—‌

—‌

—‌

1,762‌

International

Small

Company

Fund

578‌

(

744‌

)

—‌

8,648‌

LargeCap

Growth

Fund

I

—‌

(

201‌

)

5,705‌

16,217‌

LargeCap

S&P

500

Index

Fund

—‌

39‌

—‌

7,419‌

LargeCap

Value

Fund

III

1,565‌

521‌

7,252‌

923‌

MidCap

Fund

—‌

(

11,953‌

)

3,876‌

20,089‌

Origin

Emerging

Markets

Fund

3,552‌

(

2,161‌

)

—‌

22,208‌

Overseas

Fund

1,960‌

(

822‌

)

4,211‌

20,817‌

Principal

Capital

Appreciation

Fund

2,362‌

(

3,102‌

)

—‌

45,632‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

685‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

50‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

2,145‌

—‌

—‌

44,650‌

Principal

U.S.

Small-Cap

ETF

359‌

6,435‌

—‌

(

3,363‌

)

Real

Estate

Securities

Fund

—‌

—‌

—‌

(

4‌

)

Small-MidCap

Dividend

Income

Fund

632‌

(

81‌

)

—‌

5,592‌

$

22,830‌

$

(

26,558‌

)

$

36,320‌

$

310,625‌

Amounts

in

thousands.

Schedule

of

Investments

Short-Term

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

205

INVESTMENT

COMPANIES

-

1

.98

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.98

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

2,029,533‌

$

2,029‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

58,903,692‌

58,904‌

$

60,933‌

TOTAL

INVESTMENT

COMPANIES

$

60,933‌

BONDS

-

89

.84

%

Principal

Amount

(000's)

Value

(000's)

Agriculture

-

0

.13

%

Bunge

Ltd

Finance

Corp

1.63%,

08/17/2025

$

4,200‌

$

3,887‌

Airlines

-

0

.49

%

Alaska

Airlines

2020-1

Class

A

Pass

Through

Trust

4.80%,

02/15/2029

(d)

9,025‌

8,752‌

Delta

Air

Lines

Inc

/

SkyMiles

IP

Ltd

4.50%,

10/20/2025

(d)

6,505‌

6,376‌

$

15,128‌

Automobile

Asset

Backed

Securities

-

7

.37

%

BMW

Vehicle

Owner

Trust

2023-A

5.72%,

04/27/2026

9,000‌

9,001‌

CPS

Auto

Receivables

Trust

2022-A

0.98%,

04/16/2029

(d)

583‌

581‌

CPS

Auto

Receivables

Trust

2023-C

6.13%,

09/15/2026

(d)

9,500‌

9,498‌

Ford

Credit

Auto

Owner

Trust

2019-REV1

3.52%,

07/15/2030

(d)

11,700‌

11,587‌

Ford

Credit

Auto

Owner

Trust

2020-REV2

1.06%,

04/15/2033

(d)

11,000‌

9,974‌

Ford

Credit

Auto

Owner

Trust

2021-REV1

1.37%,

10/17/2033

(d)

10,250‌

9,223‌

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-1

5.19%,

03/16/2026

6,700‌

6,676‌

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-3

5.74%,

09/16/2026

7,500‌

7,502‌

Honda

Auto

Receivables

2023-2

Owner

Trust

5.41%,

04/15/2026

10,000‌

9,973‌

Mercedes-Benz

Auto

Receivables

Trust

2023-1

5.09%,

01/15/2026

4,997‌

4,979‌

Nissan

Auto

Receivables

2023-A

Owner

Trust

5.34%,

02/17/2026

8,000‌

7,972‌

OneMain

Direct

Auto

Receivables

Trust

2019-1

3.63%,

09/14/2027

(d)

16,750‌

16,161‌

OneMain

Direct

Auto

Receivables

Trust

2021-1

0.87%,

07/14/2028

(d)

27,000‌

25,619‌

OneMain

Direct

Auto

Receivables

Trust

2022-1

4.65%,

03/14/2029

(d)

10,300‌

10,057‌

Santander

Drive

Auto

Receivables

Trust

2022-5

3.98%,

01/15/2025

799‌

799‌

Toyota

Auto

Loan

Extended

Note

Trust

2019-1

2.56%,

11/25/2031

(d)

17,000‌

16,565‌

Toyota

Auto

Loan

Extended

Note

Trust

2020-1

1.35%,

05/25/2033

(d)

6,100‌

5,653‌

Toyota

Auto

Loan

Extended

Note

Trust

2023-1

4.93%,

06/25/2036

(d)

20,600‌

20,438‌

Toyota

Auto

Receivables

2023-A

Owner

Trust

5.05%,

01/15/2026

12,000‌

11,950‌

Westlake

Automobile

Receivables

Trust

2021-1

0.64%,

03/16/2026

(d)

803‌

802‌

Westlake

Automobile

Receivables

Trust

2022-2

6.20%,

08/15/2025

(d)

5,214‌

5,217‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

1.13%

World

Omni

Auto

Receivables

Trust

2022-A

1.15%,

04/15/2025

1,187‌

1,181‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Asset

Backed

Securities

(continued)

World

Omni

Auto

Receivables

Trust

2023-A

5.50%,

07/15/2026

$

12,000‌

$

12,001‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.43%

World

Omni

Select

Auto

Trust

2023-A

5.92%,

03/15/2027

13,800‌

13,782‌

$

227,191‌

Banks

-

14

.63

%

Bank

of

America

Corp

0.98%,

09/25/2025

(e)

19,500‌

18,423‌

Secured

Overnight

Financing

Rate

+

0.91%

1.20%,

10/24/2026

(e)

19,600‌

17,745‌

Secured

Overnight

Financing

Rate

+

1.01%

1.32%,

06/19/2026

(e)

19,400‌

17,822‌

Secured

Overnight

Financing

Rate

+

1.15%

4.20%,

08/26/2024

24,500‌

24,109‌

Bank

of

Montreal

0.95%,

01/22/2027

(e)

14,700‌

13,165‌

Secured

Overnight

Financing

Rate

+

0.60%

Bank

of

Nova

Scotia/The

1.30%,

09/15/2026

5,300‌

4,702‌

Barclays

PLC

2.28%,

11/24/2027

(e)

7,308‌

6,502‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.05%

5.30%,

08/09/2026

(e)

7,250‌

7,148‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.30%

BNP

Paribas

SA

5.13%,

01/13/2029

(d),(e)

8,400‌

8,257‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.45%

Citigroup

Inc

0.78%,

10/30/2024

(e)

9,600‌

9,472‌

Secured

Overnight

Financing

Rate

+

0.69%

1.12%,

01/28/2027

(e)

19,600‌

17,506‌

Secured

Overnight

Financing

Rate

+

0.77%

4.00%,

08/05/2024

(f)

10,750‌

10,539‌

Deutsche

Bank

AG/New

York

NY

0.90%,

05/28/2024

9,200‌

8,814‌

0.96%,

11/08/2023

11,000‌

10,845‌

Fifth

Third

Bancorp

4.30%,

01/16/2024

15,700‌

15,571‌

Goldman

Sachs

Group

Inc/The

1.22%,

12/06/2023

12,000‌

11,801‌

2.64%,

02/24/2028

(e)

8,600‌

7,787‌

Secured

Overnight

Financing

Rate

+

1.11%

4.48%,

08/23/2028

(e)

10,500‌

10,161‌

Secured

Overnight

Financing

Rate

+

1.73%

6.14%,

12/09/2026

14,700‌

14,500‌

Secured

Overnight

Financing

Rate

+

0.79%

HSBC

Holdings

PLC

2.63%,

11/07/2025

(e)

9,300‌

8,887‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.40%

JPMorgan

Chase

&

Co

1.04%,

02/04/2027

(e)

15,800‌

14,098‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

0.70%

1.05%,

11/19/2026

(e)

19,600‌

17,701‌

Secured

Overnight

Financing

Rate

+

0.80%

3.88%,

09/10/2024

5,249‌

5,150‌

KeyBank

NA/Cleveland

OH

5.85%,

11/15/2027

14,400‌

14,118‌

Schedule

of

Investments

Short-Term

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

206

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Morgan

Stanley

1.59%,

05/04/2027

(e)

$

10,750‌

$

9,645‌

Secured

Overnight

Financing

Rate

+

0.88%

2.48%,

01/21/2028

(e)

6,000‌

5,428‌

Secured

Overnight

Financing

Rate

+

1.00%

5.05%,

01/28/2027

(e)

10,000‌

9,900‌

Secured

Overnight

Financing

Rate

+

1.30%

5.76%,

01/25/2024

13,500‌

13,495‌

Secured

Overnight

Financing

Rate

+

0.46%

NatWest

Group

PLC

4.27%,

03/22/2025

(e)

9,750‌

9,630‌

3

Month

USD

LIBOR

+

1.76%

NatWest

Markets

PLC

0.80%,

08/12/2024

(d)

7,800‌

7,399‌

Royal

Bank

of

Canada

0.88%,

01/20/2026

14,700‌

13,193‌

Societe

Generale

SA

2.63%,

01/22/2025

(d)

9,700‌

9,212‌

Toronto-Dominion

Bank/The

0.75%,

01/06/2026

14,700‌

13,179‌

Truist

Financial

Corp

1.27%,

03/02/2027

(e)

3,626‌

3,232‌

Secured

Overnight

Financing

Rate

+

0.61%

UBS

Group

AG

2.59%,

09/11/2025

(d),(e)

15,600‌

14,968‌

Secured

Overnight

Financing

Rate

+

1.56%

4.49%,

08/05/2025

(d),(e)

15,000‌

14,718‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.60%

Wells

Fargo

&

Co

2.16%,

02/11/2026

(e)

9,800‌

9,262‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.01%

2.19%,

04/30/2026

(e)

14,600‌

13,730‌

Secured

Overnight

Financing

Rate

+

2.00%

2.41%,

10/30/2025

(e)

10,000‌

9,569‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.09%

$

451,383‌

Beverages

-

0

.46

%

Keurig

Dr

Pepper

Inc

0.75%,

03/15/2024

14,700‌

14,254‌

Biotechnology

-

1

.45

%

Amgen

Inc

5.15%,

03/02/2028

9,100‌

9,106‌

Gilead

Sciences

Inc

0.75%,

09/29/2023

36,002‌

35,725‌

$

44,831‌

Building

Materials

-

0

.43

%

Martin

Marietta

Materials

Inc

4.25%,

07/02/2024

13,455‌

13,259‌

Chemicals

-

0

.72

%

Celanese

US

Holdings

LLC

3.50%,

05/08/2024

4,800‌

4,703‌

Nutrien

Ltd

5.90%,

11/07/2024

10,000‌

10,021‌

Westlake

Corp

3.60%,

08/15/2026

7,900‌

7,465‌

$

22,189‌

Commercial

Mortgage

Backed

Securities

-

10

.47

%

Arbor

Multifamily

Mortgage

Securities

Trust

2022-MF4

3.27%,

02/15/2055

(d),(g)

7,000‌

6,507‌

BX

2021-LBA3

Mortgage

Trust

6.03%,

10/15/2036

(d)

14,750‌

14,399‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.80%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

BX

Commercial

Mortgage

Trust

2021-21M

6.07%,

10/15/2036

(d)

$

8,940‌

$

8,738‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.84%

BX

Commercial

Mortgage

Trust

2021-ACNT

6.19%,

11/15/2038

(d)

11,000‌

10,783‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.96%

BX

Commercial

Mortgage

Trust

2021-SOAR

6.01%,

06/15/2038

(d)

11,327‌

11,107‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.78%

BX

Commercial

Mortgage

Trust

2021-VINO

5.99%,

05/15/2038

(d)

6,198‌

6,075‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.77%

BX

Commercial

Mortgage

Trust

2021-VOLT

6.04%,

09/15/2036

(d)

20,000‌

19,474‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.81%

BX

Commercial

Mortgage

Trust

2021-XL2

6.02%,

10/15/2038

(d)

15,639‌

15,286‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.80%

BX

Trust

2021-BXMF

5.97%,

10/15/2026

(d)

12,000‌

11,726‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.75%

BX

Trust

2021-LGCY

5.84%,

10/15/2036

(d)

20,000‌

19,424‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.62%

Cold

Storage

Trust

2020-ICE5

6.24%,

11/15/2037

(d)

23,985‌

23,714‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.01%

Credit

Suisse

Mortgage

Capital

Certificates

2019-ICE4

6.25%,

05/15/2036

(d)

14,208‌

14,167‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.03%

ELP

Commercial

Mortgage

Trust

2021-ELP

6.04%,

11/15/2038

(d)

15,000‌

14,729‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.82%

Ginnie

Mae

0.87%,

08/16/2042

(g),(h)

1,283‌

1‌

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2021-MHC

6.14%,

04/15/2038

(d)

12,473‌

12,336‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.91%

Life

2021-BMR

Mortgage

Trust

6.04%,

03/15/2038

(d)

16,435‌

16,106‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.81%

Life

2022-BMR

Mortgage

Trust

6.52%,

05/15/2039

(d)

18,400‌

18,114‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.30%

MHC

Commercial

Mortgage

Trust

2021-MHC

6.14%,

04/15/2038

(d)

20,000‌

19,712‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.92%

Schedule

of

Investments

Short-Term

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

207

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

MHC

Trust

2021-MHC2

6.19%,

05/15/2038

(d)

$

17,000‌

$

16,751‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.96%

MHP

2021-STOR

6.04%,

07/15/2038

(d)

8,800‌

8,629‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.81%

MHP

2022-MHIL

6.04%,

01/15/2027

(d)

14,332‌

14,013‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.81%

OPG

Trust

2021-PORT

5.82%,

10/15/2036

(d)

11,319‌

11,025‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.60%

SREIT

Trust

2021-MFP

6.07%,

11/15/2038

(d)

13,100‌

12,837‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.85%

TPGI

Trust

2021-DGWD

6.03%,

06/15/2026

(d)

17,640‌

17,308‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.81%

$

322,961‌

Computers

-

1

.35

%

Apple

Inc

1.13%,

05/11/2025

20,000‌

18,723‌

Dell

International

LLC

/

EMC

Corp

5.25%,

02/01/2028

8,400‌

8,418‌

Hewlett

Packard

Enterprise

Co

4.45%,

10/02/2023

14,700‌

14,668‌

$

41,809‌

Consumer

Products

-

0

.26

%

Avery

Dennison

Corp

0.85%,

08/15/2024

8,400‌

7,963‌

Diversified

Financial

Services

-

0

.67

%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

1.65%,

10/29/2024

13,700‌

12,945‌

Capital

One

Financial

Corp

3.90%,

01/29/2024

7,900‌

7,816‌

$

20,761‌

Electric

-

7

.85

%

AES

Corp/The

1.38%,

01/15/2026

14,600‌

13,196‌

Alliant

Energy

Finance

LLC

1.40%,

03/15/2026

(d)

4,600‌

4,084‌

American

Electric

Power

Co

Inc

2.03%,

03/15/2024

11,700‌

11,420‌

5.78%,

11/01/2023

14,700‌

14,695‌

3

Month

USD

LIBOR

+

0.48%

Black

Hills

Corp

1.04%,

08/23/2024

9,500‌

9,024‌

4.25%,

11/30/2023

27,000‌

26,833‌

Consumers

Energy

Co

4.90%,

02/15/2029

(i)

8,200‌

8,192‌

Dominion

Energy

Inc

3.07%,

08/15/2024

(g)

9,800‌

9,516‌

6.08%,

09/15/2023

14,500‌

14,501‌

3

Month

USD

LIBOR

+

0.53%

DTE

Energy

Co

1.05%,

06/01/2025

4,400‌

4,049‌

2.53%,

10/01/2024

(g)

10,000‌

9,626‌

Duke

Energy

Corp

0.90%,

09/15/2025

9,750‌

8,892‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Emera

US

Finance

LP

0.83%,

06/15/2024

(f)

$

8,500‌

$

8,051‌

Entergy

Louisiana

LLC

0.62%,

11/17/2023

4,443‌

4,377‌

0.95%,

10/01/2024

5,500‌

5,218‌

Evergy

Inc

2.45%,

09/15/2024

9,300‌

8,948‌

Eversource

Energy

5.45%,

03/01/2028

8,400‌

8,520‌

Fortis

Inc/Canada

3.06%,

10/04/2026

14,594‌

13,523‌

NextEra

Energy

Capital

Holdings

Inc

4.90%,

02/28/2028

3,458‌

3,426‌

6.05%,

03/01/2025

3,700‌

3,727‌

Public

Service

Enterprise

Group

Inc

0.80%,

08/15/2025

14,600‌

13,272‌

Southwestern

Electric

Power

Co

1.65%,

03/15/2026

11,600‌

10,548‌

Tucson

Electric

Power

Co

3.05%,

03/15/2025

4,400‌

4,227‌

Vistra

Operations

Co

LLC

3.70%,

01/30/2027

(d)

19,500‌

18,022‌

Xcel

Energy

Inc

1.75%,

03/15/2027

7,000‌

6,208‌

$

242,095‌

Entertainment

-

0

.28

%

Warnermedia

Holdings

Inc

3.76%,

03/15/2027

9,300‌

8,705‌

Food

-

1

.41

%

Nestle

Holdings

Inc

0.38%,

01/15/2024

(d)

29,000‌

28,311‌

Pilgrim's

Pride

Corp

5.88%,

09/30/2027

(d)

15,400‌

15,232‌

$

43,543‌

Forest

Products

&

Paper

-

0

.30

%

Georgia-Pacific

LLC

1.75%,

09/30/2025

(d)

10,000‌

9,229‌

Gas

-

0

.52

%

NiSource

Inc

0.95%,

08/15/2025

14,600‌

13,376‌

5.25%,

03/30/2028

2,700‌

2,705‌

$

16,081‌

Healthcare

-

Services

-

1

.62

%

Centene

Corp

4.25%,

12/15/2027

16,750‌

15,777‌

HCA

Inc

5.25%,

06/15/2026

20,000‌

19,820‌

Humana

Inc

0.65%,

08/03/2023

14,250‌

14,248‌

$

49,845‌

Home

Builders

-

0

.31

%

DR

Horton

Inc

2.50%,

10/15/2024

9,800‌

9,442‌

Home

Furnishings

-

0

.16

%

Panasonic

Holdings

Corp

2.68%,

07/19/2024

(d)

5,000‌

4,848‌

Insurance

-

2

.54

%

Athene

Global

Funding

1.72%,

01/07/2025

(d)

9,600‌

8,950‌

Five

Corners

Funding

Trust

4.42%,

11/15/2023

(d)

6,250‌

6,214‌

Guardian

Life

Global

Funding

0.88%,

12/10/2025

(d)

8,647‌

7,727‌

1.10%,

06/23/2025

(d)

17,525‌

16,017‌

Markel

Group

Inc

3.50%,

11/01/2027

4,719‌

4,412‌

Schedule

of

Investments

Short-Term

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

208

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

(continued)

MassMutual

Global

Funding

II

2.75%,

06/22/2024

(d)

$

13,000‌

$

12,662‌

New

York

Life

Global

Funding

2.00%,

01/22/2025

(d)

9,800‌

9,313‌

Northwestern

Mutual

Global

Funding

0.80%,

01/14/2026

(d)

14,500‌

12,974‌

$

78,269‌

Internet

-

0

.40

%

eBay

Inc

1.40%,

05/10/2026

13,530‌

12,240‌

Media

-

0

.52

%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

4.91%,

07/23/2025

9,700‌

9,529‌

Paramount

Global

4.75%,

05/15/2025

6,596‌

6,473‌

$

16,002‌

Mining

-

0

.45

%

Anglo

American

Capital

PLC

5.38%,

04/01/2025

(d)

9,600‌

9,438‌

Glencore

Funding

LLC

1.63%,

09/01/2025

(d)

4,750‌

4,391‌

$

13,829‌

Mortgage

Backed

Securities

-

2

.93

%

Banc

of

America

Funding

2004-1

Trust

5.25%,

02/25/2019

6‌

5‌

CHL

Mortgage

Pass-Through

Trust

2003-46

3.91%,

01/19/2034

(g)

121‌

113‌

Credit

Suisse

First

Boston

Mortgage

Securities

Corp

5.00%,

09/25/2019

3‌

2‌

GS

Mortgage-Backed

Securities

Corp

Trust

2020-PJ3

3.00%,

10/25/2050

(d),(g)

21‌

21‌

GS

Mortgage-Backed

Securities

Corp

Trust

2021-PJ3

2.50%,

08/25/2051

(d),(g)

3,593‌

3,086‌

JP

Morgan

Mortgage

Trust

2004-A3

4.78%,

07/25/2034

(g)

169‌

154‌

JP

Morgan

Mortgage

Trust

2004-S1

5.00%,

09/25/2034

72‌

74‌

JP

Morgan

Mortgage

Trust

2021-1

2.50%,

06/25/2051

(d),(g)

12,351‌

10,824‌

Metlife

Securitization

Trust

2019-1

3.75%,

04/25/2058

(d),(g)

1,628‌

1,552‌

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2020-1

2.50%,

12/25/2050

(d),(g)

4,931‌

4,276‌

Oceanview

Mortgage

Trust

2021-3

2.50%,

06/25/2051

(d),(g)

11,620‌

9,976‌

PHH

Mortgage

Trust

Series

2008-CIM1

7.45%,

06/25/2038

466‌

422‌

1.00

x

1

Month

USD

LIBOR

+

2.25%

PSMC

2021-3

Trust

2.50%,

08/25/2051

(d),(g)

10,876‌

9,397‌

Sequoia

Mortgage

Trust

2020-4

2.50%,

11/25/2050

(d),(g)

7,199‌

6,374‌

Sequoia

Mortgage

Trust

2021-3

2.50%,

05/25/2051

(d),(g)

18,867‌

16,195‌

Sequoia

Mortgage

Trust

2021-4

2.50%,

06/25/2051

(d),(g)

19,816‌

16,962‌

Wells

Fargo

Mortgage

Backed

Securities

2020-2

Trust

3.00%,

12/25/2049

(d),(g)

381‌

374‌

Wells

Fargo

Mortgage

Backed

Securities

2020-3

Trust

3.00%,

06/25/2050

(d),(g)

658‌

623‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Mortgage

Backed

Securities

(continued)

Wells

Fargo

Mortgage

Backed

Securities

2020-4

Trust

3.00%,

07/25/2050

(d),(g)

$

4,933‌

$

4,168‌

Wells

Fargo

Mortgage

Backed

Securities

2020-5

Trust

2.50%,

09/25/2050

(d),(g)

4,774‌

4,206‌

Wells

Fargo

Mortgage

Backed

Securities

2021-1

Trust

2.50%,

12/25/2050

(d),(g)

1,955‌

1,688‌

$

90,492‌

Office

&

Business

Equipment

-

0

.32

%

CDW

LLC

/

CDW

Finance

Corp

2.67%,

12/01/2026

11,000‌

9,946‌

Oil

&

Gas

-

0

.96

%

Chevron

USA

Inc

0.69%,

08/12/2025

14,600‌

13,379‌

Exxon

Mobil

Corp

2.99%,

03/19/2025

9,800‌

9,459‌

Phillips

66

3.85%,

04/09/2025

6,850‌

6,662‌

$

29,500‌

Other

Asset

Backed

Securities

-

14

.92

%

AMMC

CLO

15

Ltd

6.69%,

01/15/2032

(d)

21,000‌

20,810‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.38%

Bardot

CLO

Ltd

6.70%,

10/22/2032

(d)

14,250‌

14,103‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.35%

CCG

Receivables

Trust

2020-1

0.54%,

12/14/2027

(d)

1,343‌

1,330‌

CCG

Receivables

Trust

2021-1

0.30%,

06/14/2027

(d)

4,657‌

4,560‌

CF

Hippolyta

Issuer

LLC

1.53%,

03/15/2061

(d)

30,064‌

26,179‌

1.69%,

07/15/2060

(d)

6,971‌

6,278‌

Dell

Equipment

Finance

Trust

2023-2

5.84%,

01/22/2029

(d)

7,200‌

7,191‌

Dewolf

Park

CLO

Ltd

6.49%,

10/15/2030

(d)

19,959‌

19,774‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.18%

DLLAA

2023-1

LLC

5.93%,

07/20/2026

(d),(i)

6,900‌

6,909‌

Fortress

Credit

Opportunities

XVII

CLO

Ltd

6.68%,

01/15/2030

(d)

8,144‌

8,068‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.37%

John

Deere

Owner

Trust

2023-B

5.59%,

06/15/2026

9,600‌

9,589‌

JP

Morgan

Mortgage

Trust

2023-HE1

6.82%,

11/25/2053

(d)

3,300‌

3,308‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

1.75%

KKR

CLO

18

Ltd

6.51%,

07/18/2030

(d)

18,153‌

18,010‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.20%

KKR

Lending

Partners

III

Clo

LLC

6.97%,

10/20/2030

(d)

9,487‌

9,399‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.64%

7.14%,

10/20/2030

(d)

13,600‌

13,392‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.81%

Schedule

of

Investments

Short-Term

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

209

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Other

Asset

Backed

Securities

(continued)

Kubota

Credit

Owner

Trust

2023-1

5.40%,

02/17/2026

(d)

$

2,500‌

$

2,489‌

Kubota

Credit

Owner

Trust

2023-2

5.61%,

07/15/2026

(d)

13,750‌

13,732‌

Lake

Shore

MM

CLO

III

LLC

7.05%,

10/17/2031

(d)

20,000‌

19,728‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.74%

Madison

Park

Funding

XVIII

Ltd

6.54%,

10/21/2030

(d)

20,679‌

20,536‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.20%

Marathon

CLO

X

Ltd

6.32%,

11/15/2029

(d)

6,796‌

6,744‌

1.00

x

3

Month

USD

LIBOR

+

1.00%

Marathon

CLO

XIII

Ltd

6.89%,

04/15/2032

(d)

19,500‌

19,450‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.58%

MMAF

Equipment

Finance

LLC

2020-A

0.74%,

04/09/2024

(d)

13‌

13‌

MMAF

Equipment

Finance

LLC

2023-A

5.79%,

11/13/2026

(d)

10,850‌

10,847‌

MVW

2021-1W

LLC

1.14%,

01/22/2041

(d)

3,180‌

2,888‌

MVW

Owner

Trust

2018-1

3.45%,

01/21/2036

(d)

2,131‌

2,077‌

Oaktree

CLO

2019-4

Ltd

6.71%,

10/20/2032

(d)

20,000‌

19,849‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.38%

Palmer

Square

Loan

Funding

2022-1

Ltd

6.36%,

04/15/2030

(d)

8,987‌

8,928‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.05%

Parliament

Funding

II

ltd

6.84%,

10/20/2031

(d)

10,805‌

10,667‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.51%

PFS

Financing

Corp

0.71%,

04/15/2026

(d)

9,750‌

9,384‌

0.97%,

02/15/2026

(d)

17,650‌

17,174‌

2.47%,

02/15/2027

(d)

11,750‌

11,136‌

Shackleton

2017-X

CLO

Ltd

6.48%,

04/20/2029

(d)

8,428‌

8,366‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.15%

Stratus

CLO

2021-2

Ltd

6.49%,

12/28/2029

(d)

6,863‌

6,809‌

1.00

x

3

Month

USD

LIBOR

+

0.90%

TCI-Flatiron

CLO

2016-1

Ltd

6.41%,

01/17/2032

(d)

8,506‌

8,448‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.10%

T-Mobile

US

Trust

2022-1

4.91%,

05/22/2028

(d)

7,000‌

6,928‌

Trafigura

Securitisation

Finance

PLC

2021-1

1.08%,

01/15/2025

(d)

24,000‌

22,524‌

Verizon

Master

Trust

4.49%,

01/22/2029

16,000‌

15,702‌

4.89%,

04/13/2028

10,000‌

9,909‌

5.16%,

06/20/2029

13,800‌

13,811‌

5.23%,

11/22/2027

12,950‌

12,873‌

Voya

2012-4

Ltd

6.57%,

10/15/2030

(d)

8,606‌

8,529‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.26%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Other

Asset

Backed

Securities

(continued)

VSE

2018-A

VOI

Mortgage

LLC

3.56%,

02/20/2036

(d)

$

1,925‌

$

1,862‌

$

460,303‌

Packaging

&

Containers

-

0

.59

%

Graphic

Packaging

International

LLC

0.82%,

04/15/2024

(d)

9,700‌

9,350‌

1.51%,

04/15/2026

(d)

9,800‌

8,752‌

$

18,102‌

Pharmaceuticals

-

2

.56

%

AbbVie

Inc

2.60%,

11/21/2024

6,800‌

6,546‌

Bayer

US

Finance

II

LLC

3.88%,

12/15/2023

(d)

5,800‌

5,761‌

Bristol-Myers

Squibb

Co

0.54%,

11/13/2023

14,700‌

14,495‌

Cigna

Group/The

0.61%,

03/15/2024

7,850‌

7,595‌

1.25%,

03/15/2026

14,700‌

13,270‌

GlaxoSmithKline

Capital

PLC

0.53%,

10/01/2023

24,500‌

24,304‌

Pfizer

Investment

Enterprises

Pte

Ltd

4.65%,

05/19/2025

7,000‌

6,940‌

$

78,911‌

Pipelines

-

0

.72

%

Energy

Transfer

LP

4.40%,

03/15/2027

5,250‌

5,063‌

5.55%,

02/15/2028

10,000‌

10,039‌

Williams

Cos

Inc/The

5.40%,

03/02/2026

7,000‌

7,014‌

$

22,116‌

REITs

-

2

.70

%

American

Tower

Trust

#1

3.65%,

03/15/2048

(d)

6,300‌

5,847‌

5.49%,

03/15/2028

(d)

10,500‌

10,510‌

Crown

Castle

Inc

1.35%,

07/15/2025

8,750‌

8,068‌

CubeSmart

LP

4.00%,

11/15/2025

3,275‌

3,102‌

Omega

Healthcare

Investors

Inc

4.50%,

01/15/2025

7,250‌

7,025‌

4.95%,

04/01/2024

4,750‌

4,698‌

SBA

Tower

Trust

1.63%,

05/15/2051

(d)

19,400‌

16,847‌

1.88%,

07/15/2050

(d)

6,463‌

5,820‌

2.33%,

07/15/2052

(d)

2,800‌

2,409‌

2.84%,

01/15/2050

(d)

10,325‌

9,835‌

Ventas

Realty

LP

3.50%,

04/15/2024

9,400‌

9,221‌

$

83,382‌

Semiconductors

-

0

.16

%

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA

Inc

2.70%,

05/01/2025

5,300‌

5,042‌

Software

-

0

.31

%

Roper

Technologies

Inc

1.00%,

09/15/2025

10,450‌

9,537‌

Student

Loan

Asset

Backed

Securities

-

6

.13

%

Commonbond

Student

Loan

Trust

2018-BGS

3.56%,

09/25/2045

(d)

2,443‌

2,272‌

Commonbond

Student

Loan

Trust

2018-C-GS

3.87%,

02/25/2046

(d)

3,317‌

3,086‌

Commonbond

Student

Loan

Trust

2019-A-GS

2.54%,

01/25/2047

(d)

5,864‌

5,253‌

Commonbond

Student

Loan

Trust

2020-A-GS

1.98%,

08/25/2050

(d)

2,496‌

2,127‌

Commonbond

Student

Loan

Trust

2021-A-GS

1.20%,

03/25/2052

(d)

11,123‌

9,094‌

Schedule

of

Investments

Short-Term

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

210

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Student

Loan

Asset

Backed

Securities

(continued)

Commonbond

Student

Loan

Trust

2021-B-GS

1.17%,

09/25/2051

(d)

$

3,637‌

$

2,956‌

EDvestinU

Private

Education

Loan

Issue

No

3

LLC

1.80%,

11/25/2045

(d)

8,170‌

7,059‌

Laurel

Road

Prime

Student

Loan

Trust

2019-A

2.34%,

10/25/2048

(d)

365‌

352‌

Navient

Private

Education

Refi

Loan

Trust

2019-A

3.42%,

01/15/2043

(d)

1,074‌

1,033‌

Navient

Private

Education

Refi

Loan

Trust

2019-G

2.40%,

10/15/2068

(d)

3,888‌

3,580‌

Navient

Private

Education

Refi

Loan

Trust

2020-D

1.69%,

05/15/2069

(d)

5,073‌

4,558‌

Navient

Private

Education

Refi

Loan

Trust

2020-F

1.22%,

07/15/2069

(d)

3,306‌

2,943‌

Navient

Private

Education

Refi

Loan

Trust

2020-G

1.17%,

09/16/2069

(d)

3,582‌

3,173‌

Navient

Private

Education

Refi

Loan

Trust

2020-H

1.31%,

01/15/2069

(d)

5,074‌

4,592‌

Navient

Private

Education

Refi

Loan

Trust

2021-A

0.84%,

05/15/2069

(d)

4,501‌

3,901‌

Navient

Private

Education

Refi

Loan

Trust

2021-B

0.94%,

07/15/2069

(d)

9,633‌

8,322‌

Navient

Private

Education

Refi

Loan

Trust

2021-c

1.06%,

10/15/2069

(d)

8,990‌

7,763‌

Navient

Private

Education

Refi

Loan

Trust

2021-E

0.97%,

12/16/2069

(d)

12,729‌

10,775‌

Navient

Private

Education

Refi

Loan

Trust

2021-F

1.11%,

02/18/2070

(d)

5,342‌

4,494‌

Navient

Private

Education

Refi

Loan

Trust

2022-A

2.23%,

07/15/2070

(d)

4,802‌

4,163‌

Navient

Private

Education

Refi

Loan

Trust

2023-A

5.51%,

10/15/2071

(d)

2,941‌

2,899‌

Nelnet

Student

Loan

Trust

2021-A

1.36%,

04/20/2062

(d)

22,110‌

19,637‌

Nelnet

Student

Loan

Trust

2021-C

1.32%,

04/20/2062

(d)

7,545‌

6,712‌

Nelnet

Student

Loan

Trust

2021-D

1.63%,

04/20/2062

(d)

10,606‌

9,501‌

SLM

Private

Credit

Student

Loan

Trust

2004-A

5.95%,

06/15/2033

435‌

428‌

1.00

x

3

Month

USD

LIBOR

+

0.40%

SLM

Private

Credit

Student

Loan

Trust

2004-B

5.88%,

03/15/2024

79‌

79‌

1.00

x

3

Month

USD

LIBOR

+

0.33%

SLM

Private

Credit

Student

Loan

Trust

2006-A

5.84%,

06/15/2039

12,649‌

12,058‌

1.00

x

3

Month

USD

LIBOR

+

0.29%

SLM

Private

Credit

Student

Loan

Trust

2006-B

5.75%,

12/15/2039

7,358‌

7,010‌

1.00

x

3

Month

USD

LIBOR

+

0.20%

SMB

Private

Education

Loan

Trust

2021-A

1.07%,

01/15/2053

(d)

7,626‌

6,527‌

SMB

Private

Education

Loan

Trust

2021-B

1.31%,

07/17/2051

(d)

12,869‌

11,341‌

SMB

Private

Education

Loan

Trust

2021-E

1.68%,

02/15/2051

(d)

13,100‌

11,693‌

SMB

Private

Education

Loan

Trust

2022-C

4.48%,

05/16/2050

(d)

10,043‌

9,618‌

$

188,999‌

Telecommunications

-

1

.78

%

AT&T

Inc

1.70%,

03/25/2026

9,400‌

8,539‌

Crown

Castle

Towers

LLC

3.66%,

05/15/2045

(d)

4,187‌

3,994‌

4.24%,

07/15/2048

(d)

1,650‌

1,528‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

Sprint

Spectrum

Co

LLC

/

Sprint

Spectrum

Co

II

LLC

/

Sprint

Spectrum

Co

III

LLC

4.74%,

09/20/2029

(d)

$

17,962‌

$

17,762‌

5.15%,

03/20/2028

(d)

9,025‌

8,932‌

Verizon

Communications

Inc

1.45%,

03/20/2026

7,350‌

6,665‌

6.11%,

03/20/2026

7,350‌

7,425‌

Secured

Overnight

Financing

Rate

+

0.79%

$

54,845‌

Transportation

-

0

.66

%

Canadian

Pacific

Railway

Co

1.35%,

12/02/2024

11,000‌

10,392‌

Ryder

System

Inc

1.75%,

09/01/2026

11,000‌

9,859‌

$

20,251‌

Trucking

&

Leasing

-

0

.31

%

Penske

Truck

Leasing

Co

Lp

/

PTL

Finance

Corp

3.45%,

07/01/2024

(d)

9,800‌

9,578‌

TOTAL

BONDS

$

2,770,748‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

8

.19

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

0

.00

%

4.53%,

09/01/2035

$

19‌

$

19‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.25%

Federal

National

Mortgage

Association

(FNMA)

-

0

.00

%

3.93%,

10/01/2035

35‌

35‌

1.00

x

12

Month

USD

LIBOR

+

1.68%

4.02%,

12/01/2032

9‌

9‌

1.00

x

12

Month

USD

LIBOR

+

1.64%

4.12%,

01/01/2035

11‌

11‌

1.00

x

12

Month

USD

LIBOR

+

1.75%

4.27%,

08/01/2034

11‌

10‌

1.00

x

12

Month

USD

LIBOR

+

1.63%

4.42%,

11/01/2032

4‌

4‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.29%

4.44%,

07/01/2034

4‌

4‌

1.00

x

12

Month

USD

LIBOR

+

1.66%

4.50%,

02/01/2035

9‌

8‌

1.00

x

6

Month

USD

LIBOR

+

2.06%

4.65%,

02/01/2037

25‌

24‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.06%

5.27%,

07/01/2034

14‌

13‌

1.00

x

12

Month

USD

LIBOR

+

1.58%

5.32%,

11/01/2035

1‌

1‌

1.00

x

11th

District

Monthly

Weighted

Average

Cost

of

Funds

Replacement

Index

+

1.25%

$

119‌

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

0

.00

%

7.50%,

10/01/2029

2‌

2‌

U.S.

Treasury

-

8

.19

%

0.25%,

07/31/2025

12,470‌

11,380‌

0.63%,

03/31/2027

54,750‌

47,889‌

0.88%,

06/30/2026

56,800‌

51,253‌

1.25%,

11/30/2026

46,600‌

42,062‌

2.25%,

11/15/2027

35,700‌

32,883‌

2.38%,

05/15/2027

58,300‌

54,294‌

Schedule

of

Investments

Short-Term

Income

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

211

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

U.S.

Treasury

(continued)

3.13%,

08/15/2025

$

13,250‌

$

12,803‌

$

252,564‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

252,704‌

Total

Investments

$

3,084,385‌

Other

Assets

and

Liabilities

-  (0.01)%

(

254‌

)

TOTAL

NET

ASSETS

-

100.00%

$

3,084,131‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,029

or

0.07%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

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

$1,475,919

or

47.86%

of

net

assets.

(e)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(f)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,970

or

0.06%

of

net

assets.

(g)

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.

(h)

Security

is

an

Interest

Only

Strip.

(i)

Security

purchased

on

a

when-issued

basis.

Portfolio

Summary

Sector

Percent

Asset

Backed

Securities

28

.42‌

%

Financial

20

.54‌

%

Mortgage

Securities

13

.40‌

%

Utilities

8

.37‌

%

Government

8

.19‌

%

Consumer,

Non-cyclical

7

.89‌

%

Communications

2

.70‌

%

Technology

2

.14‌

%

Industrial

1

.99‌

%

Money

Market

Funds

1

.98‌

%

Energy

1

.68‌

%

Basic

Materials

1

.47‌

%

Consumer,

Cyclical

1

.24‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

726,962‌

$

668,058‌

$

58,904‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

54,001‌

182,546‌

236,547‌

—‌

$

54,001‌

$

909,508‌

$

904,605‌

$

58,904‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

1,703‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

177‌

—‌

—‌

—‌

$

1,880‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

5

Year

Note;

September

2023

Long

2,251‌

$

240,453‌

$

(

3,829‌

)

Total

$

(

3,829‌

)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SmallCap

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

212

INVESTMENT

COMPANIES

-

1

.07

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.07

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

4,253,092‌

$

4,253‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(c)

9,615,750‌

9,616‌

$

13,869‌

TOTAL

INVESTMENT

COMPANIES

$

13,869‌

COMMON

STOCKS

-

99

.24

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

1

.13

%

AAR

Corp

(d)

245,100‌

$

14,657‌

Agriculture

-

1

.51

%

Darling

Ingredients

Inc

(d)

241,700‌

16,737‌

Vital

Farms

Inc

(d)

242,800‌

2,841‌

$

19,578‌

Airlines

-

0

.39

%

Sun

Country

Airlines

Holdings

Inc

(d)

234,300‌

5,052‌

Automobile

Parts

&

Equipment

-

0

.88

%

Visteon

Corp

(d)

73,700‌

11,356‌

Banks

-

7

.44

%

Ameris

Bancorp

251,400‌

10,974‌

Bancorp

Inc/The

(d)

287,200‌

10,885‌

CVB

Financial

Corp

235,500‌

4,444‌

First

Interstate

BancSystem

Inc

249,000‌

7,154‌

First

Merchants

Corp

193,100‌

6,202‌

FNB

Corp/PA

976,800‌

12,493‌

Independent

Bank

Corp

29,437‌

1,774‌

Independent

Bank

Corp/MI

140,200‌

2,897‌

Lakeland

Bancorp

Inc

168,700‌

2,549‌

Popular

Inc

118,600‌

8,604‌

Trustmark

Corp

164,600‌

4,322‌

United

Community

Banks

Inc/GA

334,750‌

9,731‌

Webster

Financial

Corp

306,570‌

14,507‌

$

96,536‌

Biotechnology

-

4

.07

%

Allogene

Therapeutics

Inc

(d)

185,900‌

922‌

Cellectis

SA

ADR

(d)

528,200‌

1,099‌

Denali

Therapeutics

Inc

(d)

199,200‌

5,663‌

Design

Therapeutics

Inc

(d),(e)

189,300‌

1,541‌

Immunocore

Holdings

PLC

ADR

(d)

124,700‌

8,228‌

ImmunoGen

Inc

(d)

240,000‌

4,277‌

Insmed

Inc

(d)

352,700‌

7,791‌

Intra-Cellular

Therapies

Inc

(d)

121,400‌

7,507‌

Iovance

Biotherapeutics

Inc

(d)

618,200‌

4,488‌

MacroGenics

Inc

(d)

202,900‌

968‌

Olink

Holding

AB

ADR

(d)

250,700‌

4,763‌

Seagen

Inc

(d)

29,200‌

5,600‌

$

52,847‌

Building

Materials

-

3

.27

%

Modine

Manufacturing

Co

(d)

403,645‌

15,161‌

Summit

Materials

Inc

(d)

263,044‌

9,517‌

Trex

Co

Inc

(d)

255,600‌

17,672‌

$

42,350‌

Chemicals

-

1

.33

%

Koppers

Holdings

Inc

192,100‌

7,350‌

Livent

Corp

(d)

404,000‌

9,946‌

$

17,296‌

Commercial

Services

-

4

.43

%

ABM

Industries

Inc

176,254‌

8,157‌

AMN

Healthcare

Services

Inc

(d)

87,800‌

9,408‌

Cross

Country

Healthcare

Inc

(d)

350,100‌

9,032‌

Flywire

Corp

(d)

248,700‌

8,491‌

Huron

Consulting

Group

Inc

(d)

75,300‌

7,121‌

ICF

International

Inc

68,900‌

8,102‌

Progyny

Inc

(d)

172,000‌

7,183‌

$

57,494‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Computers

-

2

.50

%

ExlService

Holdings

Inc

(d)

106,300‌

$

14,983‌

Parsons

Corp

(d)

189,900‌

9,385‌

Super

Micro

Computer

Inc

(d)

24,300‌

8,025‌

$

32,393‌

Consumer

Products

-

0

.44

%

Central

Garden

&

Pet

Co

-

A

Shares

(d)

147,680‌

5,644‌

Cosmetics

&

Personal

Care

-

0

.38

%

Beauty

Health

Co/The

(d)

598,000‌

4,957‌

Distribution

&

Wholesale

-

1

.82

%

Titan

Machinery

Inc

(d)

158,900‌

5,072‌

WESCO

International

Inc

105,300‌

18,488‌

$

23,560‌

Diversified

Financial

Services

-

2

.97

%

Encore

Capital

Group

Inc

(d)

225,800‌

12,080‌

Focus

Financial

Partners

Inc

(d)

19,111‌

1,000‌

Janus

Henderson

Group

PLC

165,000‌

4,843‌

Lazard

Ltd

114,600‌

4,022‌

Moelis

&

Co

69,800‌

3,408‌

Stifel

Financial

Corp

141,100‌

8,966‌

StoneX

Group

Inc

(d)

45,322‌

4,170‌

$

38,489‌

Electric

-

2

.02

%

Brookfield

Renewable

Corp

318,600‌

9,931‌

Portland

General

Electric

Co

340,000‌

16,208‌

$

26,139‌

Electrical

Components

&

Equipment

-

1

.39

%

EnerSys

166,700‌

18,057‌

Electronics

-

5

.03

%

Advanced

Energy

Industries

Inc

163,400‌

20,454‌

Atkore

Inc

(d)

126,100‌

20,008‌

Mirion

Technologies

Inc

-

Warrants

(d)

179,475‌

262‌

TD

SYNNEX

Corp

106,600‌

10,523‌

Vishay

Intertechnology

Inc

497,800‌

14,013‌

$

65,260‌

Energy

-

Alternate

Sources

-

0

.43

%

Array

Technologies

Inc

(d)

291,000‌

5,544‌

Engineering

&

Construction

-

2

.18

%

Dycom

Industries

Inc

(d)

151,800‌

15,116‌

MYR

Group

Inc

(d)

92,000‌

13,116‌

$

28,232‌

Entertainment

-

2

.63

%

Caesars

Entertainment

Inc

(d)

197,000‌

11,627‌

Golden

Entertainment

Inc

(d)

298,100‌

12,622‌

Vail

Resorts

Inc

41,800‌

9,843‌

$

34,092‌

Food

-

1

.18

%

Performance

Food

Group

Co

(d)

255,718‌

15,282‌

Gas

-

1

.06

%

Southwest

Gas

Holdings

Inc

208,690‌

13,761‌

Hand

&

Machine

Tools

-

0

.76

%

Regal

Rexnord

Corp

63,000‌

9,839‌

Healthcare

-

Products

-

3

.38

%

Adaptive

Biotechnologies

Corp

(d)

352,600‌

2,976‌

Castle

Biosciences

Inc

(d)

338,300‌

5,700‌

Exact

Sciences

Corp

(d)

143,000‌

13,948‌

Natera

Inc

(d)

260,192‌

11,766‌

Nevro

Corp

(d)

139,400‌

3,484‌

STAAR

Surgical

Co

(d)

108,500‌

5,943‌

$

43,817‌

Healthcare

-

Services

-

1

.97

%

Addus

HomeCare

Corp

(d)

125,900‌

11,529‌

Aveanna

Healthcare

Holdings

Inc

(d)

654,900‌

1,133‌

LifeStance

Health

Group

Inc

(d),(e)

901,500‌

8,465‌

RadNet

Inc

(d)

132,688‌

4,389‌

$

25,516‌

Holding

Companies

-

Diversified

-

0

.00

%

Cazoo

Group

Ltd

-

Warrants

(d)

95,725‌

—‌

Schedule

of

Investments

SmallCap

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

213

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Home

Builders

-

1

.60

%

Taylor

Morrison

Home

Corp

(d)

429,300‌

$

20,787‌

Insurance

-

2

.78

%

CNO

Financial

Group

Inc

302,466‌

7,779‌

Essent

Group

Ltd

88,700‌

4,400‌

Hanover

Insurance

Group

Inc/The

90,493‌

10,269‌

Lincoln

National

Corp

94,200‌

2,641‌

Primerica

Inc

51,700‌

10,997‌

$

36,086‌

Internet

-

0

.08

%

Lulu's

Fashion

Lounge

Holdings

Inc

(d),(e)

404,700‌

996‌

Iron

&

Steel

-

1

.26

%

Commercial

Metals

Co

285,900‌

16,359‌

Leisure

Products

&

Services

-

1

.25

%

Life

Time

Group

Holdings

Inc

(d)

682,653‌

12,349‌

Lindblad

Expeditions

Holdings

Inc

(d)

324,100‌

3,831‌

$

16,180‌

Lodging

-

0

.06

%

Sonder

Holdings

Inc

(d)

1,431,346‌

844‌

Machinery

-

Diversified

-

2

.80

%

Chart

Industries

Inc

(d)

130,700‌

23,808‌

Zurn

Elkay

Water

Solutions

Corp

408,800‌

12,444‌

$

36,252‌

Media

-

1

.11

%

World

Wrestling

Entertainment

Inc

137,400‌

14,427‌

Mining

-

0

.47

%

Alcoa

Corp

82,790‌

2,996‌

Piedmont

Lithium

Inc

(d)

57,100‌

3,133‌

$

6,129‌

Miscellaneous

Manufacturers

-

0

.80

%

Hillenbrand

Inc

200,400‌

10,409‌

Oil

&

Gas

-

3

.59

%

California

Resources

Corp

354,000‌

18,886‌

Chord

Energy

Corp

48,300‌

7,575‌

Gulfport

Energy

Corp

(d)

102,500‌

10,501‌

Northern

Oil

and

Gas

Inc

152,900‌

6,020‌

PDC

Energy

Inc

47,696‌

3,620‌

$

46,602‌

Oil

&

Gas

Services

-

2

.61

%

ChampionX

Corp

489,900‌

17,440‌

NexTier

Oilfield

Solutions

Inc

(d)

1,380,100‌

16,451‌

$

33,891‌

Packaging

&

Containers

-

1

.01

%

Graphic

Packaging

Holding

Co

544,000‌

13,165‌

Pharmaceuticals

-

1

.75

%

Collegium

Pharmaceutical

Inc

(d)

346,900‌

7,896‌

Dexcom

Inc

(d)

77,700‌

9,678‌

PMV

Pharmaceuticals

Inc

(d)

231,100‌

1,511‌

Revance

Therapeutics

Inc

(d)

152,700‌

3,608‌

$

22,693‌

REITs

-

6

.47

%

Agree

Realty

Corp

255,300‌

16,538‌

Cousins

Properties

Inc

433,201‌

10,583‌

First

Industrial

Realty

Trust

Inc

321,440‌

16,619‌

Ladder

Capital

Corp

556,200‌

6,113‌

Pebblebrook

Hotel

Trust

1,264,236‌

19,532‌

Rexford

Industrial

Realty

Inc

263,200‌

14,500‌

$

83,885‌

Retail

-

4

.31

%

BJ's

Wholesale

Club

Holdings

Inc

(d)

192,351‌

12,755‌

Bloomin'

Brands

Inc

449,700‌

12,084‌

Caleres

Inc

573,200‌

15,499‌

Petco

Health

&

Wellness

Co

Inc

(d)

365,473‌

2,982‌

Portillo's

Inc

(d)

299,000‌

6,892‌

Sally

Beauty

Holdings

Inc

(d)

474,700‌

5,682‌

$

55,894‌

Savings

&

Loans

-

0

.39

%

Provident

Financial

Services

Inc

274,600‌

5,091‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

-

2

.70

%

Allegro

MicroSystems

Inc

(d)

361,200‌

$

18,642‌

Entegris

Inc

90,340‌

9,911‌

SiTime

Corp

(d)

50,300‌

6,489‌

$

35,042‌

Software

-

7

.41

%

Aspen

Technology

Inc

(d)

25,216‌

4,501‌

Bentley

Systems

Inc

73,000‌

3,933‌

Concentrix

Corp

113,700‌

9,464‌

DigitalOcean

Holdings

Inc

(d),(e)

194,500‌

9,632‌

DoubleVerify

Holdings

Inc

(d)

239,200‌

10,070‌

Doximity

Inc

(d)

126,600‌

4,524‌

Jamf

Holding

Corp

(d)

196,100‌

4,259‌

Manhattan

Associates

Inc

(d)

81,800‌

15,593‌

Privia

Health

Group

Inc

(d)

549,693‌

15,348‌

Progress

Software

Corp

134,300‌

8,066‌

Sophia

Genetics

SA

(d),(e)

202,400‌

769‌

Sprout

Social

Inc

(d)

173,300‌

9,902‌

$

96,061‌

Telecommunications

-

0

.48

%

Credo

Technology

Group

Holding

Ltd

(d)

370,195‌

6,282‌

Transportation

-

1

.72

%

Hub

Group

Inc

(d)

99,200‌

8,941‌

Teekay

Tankers

Ltd

148,261‌

6,466‌

World

Kinect

Corp

304,100‌

6,854‌

$

22,261‌

TOTAL

COMMON

STOCKS

$

1,287,084‌

Total

Investments

$

1,300,953‌

Other

Assets

and

Liabilities

-  (0.31)%

(

3,962‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,296,991‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,253

or

0.33%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,195

or

0.32%

of

net

assets.

Portfolio

Summary

Sector

Percent

Industrial

20

.09‌

%

Financial

20

.05‌

%

Consumer,

Non-cyclical

19

.11‌

%

Consumer,

Cyclical

12

.94‌

%

Technology

12

.61‌

%

Energy

6

.63‌

%

Utilities

3

.08‌

%

Basic

Materials

3

.06‌

%

Communications

1

.67‌

%

Money

Market

Funds

1

.07‌

%

Diversified

0

.00‌

%

Other

Assets

and

Liabilities

(

0

.31‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SmallCap

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

214

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

293,356‌

$

283,740‌

$

9,616‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

24,455‌

33,530‌

57,985‌

—‌

$

24,455‌

$

326,886‌

$

341,725‌

$

9,616‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

401‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

34‌

—‌

—‌

—‌

$

435‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

215

INVESTMENT

COMPANIES

-

4

.87

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.73

%

iShares

Russell

2000

Growth

ETF

(a)

11,800‌

$

2,998‌

SPDR

S&P

Biotech

ETF

(a)

176,944‌

14,914‌

$

17,912‌

Money

Market

Funds

-

4

.14

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(b),(c)

10,151,378‌

10,151‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(b),(c),(d)

92,069,967‌

92,071‌

$

102,222‌

TOTAL

INVESTMENT

COMPANIES

$

120,134‌

COMMON

STOCKS

-

96

.06

%

Shares

Held

Value

(000's)

Advertising

-

0

.00

%

Boston

Omaha

Corp

(e)

171‌

$

3‌

Entravision

Communications

Corp

6,643‌

32‌

$

35‌

Aerospace

&

Defense

-

1

.98

%

AAR

Corp

(e)

49,696‌

2,972‌

AeroVironment

Inc

(e)

67,317‌

6,413‌

Amprius

Technologies

Inc

(e)

636‌

5‌

Curtiss-Wright

Corp

101,207‌

19,367‌

Eve

Holding

Inc

(e)

2,138‌

19‌

Hexcel

Corp

170,143‌

12,026‌

Joby

Aviation

Inc

(a),(e)

10,286‌

92‌

Kratos

Defense

&

Security

Solutions

Inc

(e)

496,329‌

7,490‌

Leonardo

DRS

Inc

(e)

5,575‌

93‌

Moog

Inc

629‌

66‌

Redwire

Corp

(e)

425‌

1‌

Rocket

Lab

USA

Inc

(a),(e)

30,804‌

227‌

$

48,771‌

Agriculture

-

0

.01

%

Cadiz

Inc

(e)

4,790‌

20‌

Dole

PLC

4,478‌

59‌

Ispire

Technology

Inc

(a),(e)

340‌

3‌

Turning

Point

Brands

Inc

1,889‌

45‌

Vector

Group

Ltd

2,775‌

36‌

Vital

Farms

Inc

(e)

3,369‌

40‌

$

203‌

Airlines

-

0

.24

%

Allegiant

Travel

Co

194‌

24‌

Frontier

Group

Holdings

Inc

(e)

4,204‌

39‌

Sun

Country

Airlines

Holdings

Inc

(e)

271,960‌

5,864‌

$

5,927‌

Apparel

-

0

.04

%

Hanesbrands

Inc

25,905‌

137‌

Kontoor

Brands

Inc

6,147‌

260‌

Oxford

Industries

Inc

1,247‌

135‌

Rocky

Brands

Inc

57‌

1‌

Steven

Madden

Ltd

8,319‌

278‌

Torrid

Holdings

Inc

(a),(e)

905‌

2‌

Urban

Outfitters

Inc

(e)

2,367‌

86‌

Wolverine

World

Wide

Inc

7,661‌

97‌

$

996‌

Automobile

Manufacturers

-

0

.01

%

Blue

Bird

Corp

(e)

157‌

3‌

Fisker

Inc

(a),(e)

21,671‌

134‌

Wabash

National

Corp

5,240‌

124‌

Workhorse

Group

Inc

(a),(e)

989‌

1‌

$

262‌

Automobile

Parts

&

Equipment

-

1

.17

%

Commercial

Vehicle

Group

Inc

(e)

423‌

4‌

Cooper-Standard

Holdings

Inc

(e)

619‌

11‌

Dorman

Products

Inc

(e)

2,906‌

246‌

Douglas

Dynamics

Inc

2,490‌

77‌

Fox

Factory

Holding

Corp

(e)

111,927‌

12,524‌

Gentherm

Inc

(e)

3,656‌

219‌

indie

Semiconductor

Inc

(a),(e)

590,187‌

5,595‌

Luminar

Technologies

Inc

(a),(e)

30,092‌

223‌

Miller

Industries

Inc/TN

88‌

3‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Automobile

Parts

&

Equipment

(continued)

SES

AI

Corp

(a),(e)

1,345‌

$

4‌

Shyft

Group

Inc/The

3,801‌

55‌

Visteon

Corp

(e)

32,041‌

4,938‌

XPEL

Inc

(e)

61,574‌

5,002‌

$

28,901‌

Banks

-

0

.83

%

BancFirst

Corp

333‌

33‌

Bancorp

Inc/The

(e)

5,907‌

224‌

Bank

of

NT

Butterfield

&

Son

Ltd/The

417‌

13‌

Bank7

Corp

24‌

1‌

BayCom

Corp

130‌

3‌

Burke

&

Herbert

Financial

Services

Corp

58‌

3‌

Capital

City

Bank

Group

Inc

540‌

18‌

Citizens

Financial

Services

Inc

98‌

7‌

City

Holding

Co

152‌

15‌

Coastal

Financial

Corp/WA

(e)

1,192‌

54‌

Esquire

Financial

Holdings

Inc

667‌

33‌

First

BanCorp/Puerto

Rico

1,701‌

25‌

First

Financial

Bankshares

Inc

14,407‌

470‌

Five

Star

Bancorp

643‌

16‌

Lakeland

Financial

Corp

194‌

11‌

Metropolitan

Bank

Holding

Corp

(a),(e)

103‌

5‌

MVB

Financial

Corp

118‌

3‌

Pathward

Financial

Inc

1,013‌

53‌

Plumas

Bancorp

85‌

3‌

Popular

Inc

18,810‌

1,365‌

Prosperity

Bancshares

Inc

280,877‌

17,785‌

ServisFirst

Bancshares

Inc

1,902‌

113‌

Stellar

Bancorp

Inc

295‌

7‌

Stock

Yards

Bancorp

Inc

2,624‌

125‌

Third

Coast

Bancshares

Inc

(e)

114‌

2‌

Westamerica

BanCorp

875‌

43‌

$

20,430‌

Beverages

-

0

.31

%

BRC

Inc

(a),(e)

4,060‌

19‌

Celsius

Holdings

Inc

(e)

40,687‌

5,887‌

Coca-Cola

Consolidated

Inc

527‌

334‌

Duckhorn

Portfolio

Inc/The

(e)

1,010‌

13‌

MGP

Ingredients

Inc

1,748‌

199‌

National

Beverage

Corp

(e)

2,617‌

138‌

Primo

Water

Corp

2,401‌

34‌

Vita

Coco

Co

Inc/The

(e)

3,155‌

83‌

Westrock

Coffee

Co

(e)

3,134‌

35‌

Zevia

PBC

(e)

334,069‌

929‌

$

7,671‌

Biotechnology

-

8

.67

%

4D

Molecular

Therapeutics

Inc

(e)

315‌

6‌

89bio

Inc

(e)

6,823‌

108‌

Abcam

PLC

ADR

(e)

711,138‌

16,669‌

ACADIA

Pharmaceuticals

Inc

(e)

454,738‌

13,296‌

Actinium

Pharmaceuticals

Inc

(e)

2,909‌

21‌

ADMA

Biologics

Inc

(e)

12,327‌

51‌

Aerovate

Therapeutics

Inc

(e)

1,190‌

21‌

Agenus

Inc

(e)

6,200‌

9‌

Akero

Therapeutics

Inc

(e)

4,959‌

215‌

Aldeyra

Therapeutics

Inc

(e)

5,139‌

42‌

Alpine

Immune

Sciences

Inc

(e)

1,861‌

23‌

Amicus

Therapeutics

Inc

(e)

30,971‌

422‌

AnaptysBio

Inc

(e)

1,716‌

34‌

Anavex

Life

Sciences

Corp

(a),(e)

7,751‌

64‌

ANI

Pharmaceuticals

Inc

(e)

50,004‌

2,628‌

Arbutus

Biopharma

Corp

(e)

9,166‌

20‌

Arcellx

Inc

(e)

4,189‌

143‌

Arcturus

Therapeutics

Holdings

Inc

(e)

243‌

8‌

Arcus

Biosciences

Inc

(e)

1,749‌

35‌

Arcutis

Biotherapeutics

Inc

(e)

5,675‌

62‌

Ardelyx

Inc

(e)

15,404‌

61‌

Arrowhead

Pharmaceuticals

Inc

(e)

11,321‌

391‌

ARS

Pharmaceuticals

Inc

(a),(e)

634‌

5‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

216

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

Astria

Therapeutics

Inc

(e)

2,473‌

$

22‌

Atara

Biotherapeutics

Inc

(e)

1,123‌

2‌

Aurinia

Pharmaceuticals

Inc

(e)

14,954‌

173‌

Avid

Bioservices

Inc

(e)

6,851‌

87‌

Axsome

Therapeutics

Inc

(e)

3,630‌

285‌

Beam

Therapeutics

Inc

(a),(e)

6,820‌

210‌

BioCryst

Pharmaceuticals

Inc

(e)

15,782‌

117‌

Biomea

Fusion

Inc

(e)

2,190‌

49‌

BioVie

Inc

(e)

428‌

2‌

Blueprint

Medicines

Corp

(e)

327,884‌

21,641‌

Bridgebio

Pharma

Inc

(e)

266,666‌

9,335‌

Cabaletta

Bio

Inc

(e)

2,513‌

34‌

Cassava

Sciences

Inc

(a),(e)

4,389‌

96‌

Celldex

Therapeutics

Inc

(e)

1,321‌

47‌

Cerevel

Therapeutics

Holdings

Inc

(e)

6,832‌

209‌

Chinook

Therapeutics

Inc

(e)

1,816‌

71‌

Cogent

Biosciences

Inc

(e)

4,116‌

53‌

Compass

Therapeutics

Inc

(a),(e)

1,090‌

3‌

Crinetics

Pharmaceuticals

Inc

(e)

1,053‌

20‌

Cue

Biopharma

Inc

(e)

4,082‌

16‌

Cymabay

Therapeutics

Inc

(e)

10,831‌

141‌

Cytek

Biosciences

Inc

(e)

13,384‌

120‌

Cytokinetics

Inc

(e)

9,503‌

317‌

Day

One

Biopharmaceuticals

Inc

(e)

4,960‌

66‌

Deciphera

Pharmaceuticals

Inc

(e)

2,009‌

27‌

Denali

Therapeutics

Inc

(e)

13,047‌

371‌

DICE

Therapeutics

Inc

(e)

3,518‌

165‌

Disc

Medicine

Inc

(e)

795‌

39‌

Dynavax

Technologies

Corp

(e)

12,022‌

168‌

Dyne

Therapeutics

Inc

(e)

1,451‌

18‌

Evolus

Inc

(e)

4,569‌

46‌

EyePoint

Pharmaceuticals

Inc

(e)

1,677‌

21‌

Genelux

Corp

(a),(e)

85‌

2‌

Geron

Corp

(e)

41,581‌

135‌

Guardant

Health

Inc

(e)

336,491‌

13,130‌

Halozyme

Therapeutics

Inc

(e)

164,741‌

7,078‌

Harvard

Bioscience

Inc

(e)

4,619‌

21‌

HilleVax

Inc

(e)

596‌

9‌

Humacyte

Inc

(e)

6,332‌

21‌

Ideaya

Biosciences

Inc

(e)

3,859‌

86‌

ImmunityBio

Inc

(a),(e)

9,978‌

22‌

ImmunoGen

Inc

(e)

347,183‌

6,187‌

Immunovant

Inc

(e)

5,957‌

136‌

Inhibrx

Inc

(e)

2,510‌

50‌

Innoviva

Inc

(e)

706‌

10‌

Insmed

Inc

(e)

556,295‌

12,289‌

Intellia

Therapeutics

Inc

(e)

109,266‌

4,625‌

Intercept

Pharmaceuticals

Inc

(e)

2,706‌

29‌

Intra-Cellular

Therapies

Inc

(e)

258,113‌

15,962‌

Janux

Therapeutics

Inc

(e)

16‌

—‌

Karuna

Therapeutics

Inc

(e)

63,814‌

12,748‌

Karyopharm

Therapeutics

Inc

(e)

13,372‌

24‌

Keros

Therapeutics

Inc

(e)

2,482‌

104‌

Krystal

Biotech

Inc

(e)

2,383‌

308‌

Kymera

Therapeutics

Inc

(e)

4,194‌

92‌

Legend

Biotech

Corp

ADR

(e)

72,352‌

5,464‌

Lexicon

Pharmaceuticals

Inc

(e)

4,913‌

10‌

Ligand

Pharmaceuticals

Inc

(e)

292‌

20‌

Lineage

Cell

Therapeutics

Inc

(e)

15,235‌

23‌

Liquidia

Corp

(e)

3,696‌

28‌

MacroGenics

Inc

(e)

2,164‌

10‌

MeiraGTx

Holdings

plc

(e)

2,835‌

18‌

Merrimack

Pharmaceuticals

Inc

(e)

1,238‌

15‌

Mersana

Therapeutics

Inc

(e)

6,755‌

8‌

Mineralys

Therapeutics

Inc

(a),(e)

474‌

7‌

MoonLake

Immunotherapeutics

(a),(e)

73,660‌

4,479‌

NeoGenomics

Inc

(e)

1,181,098‌

20,469‌

Novavax

Inc

(e)

7,863‌

73‌

Nuvalent

Inc

(e)

2,646‌

132‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

Omega

Therapeutics

Inc

(e)

2,878‌

$

16‌

Omeros

Corp

(a),(e)

2,933‌

13‌

OmniAb

Operations

Inc

(e)

95‌

—‌

OmniAb

Operations

Inc

(e)

95‌

—‌

Oncternal

Therapeutics

Inc

(e),(f)

139‌

—‌

Organogenesis

Holdings

Inc

(e)

975‌

4‌

PDS

Biotechnology

Corp

(a),(e)

3,302‌

19‌

PepGen

Inc

(a),(e)

346‌

2‌

Phathom

Pharmaceuticals

Inc

(a),(e)

747‌

11‌

Pliant

Therapeutics

Inc

(e)

6,237‌

111‌

Prime

Medicine

Inc

(e)

4,365‌

66‌

ProKidney

Corp

(a),(e)

1,866‌

24‌

Prothena

Corp

PLC

(e)

4,575‌

315‌

PTC

Therapeutics

Inc

(e)

6,311‌

255‌

Rain

Oncology

Inc

(e)

1,962‌

3‌

RAPT

Therapeutics

Inc

(e)

2,460‌

59‌

Relay

Therapeutics

Inc

(e)

231,015‌

2,911‌

Replimune

Group

Inc

(e)

302,718‌

6,378‌

REVOLUTION

Medicines

Inc

(e)

11,199‌

294‌

Rigel

Pharmaceuticals

Inc

(e)

15,468‌

21‌

Rocket

Pharmaceuticals

Inc

(e)

5,474‌

99‌

Sage

Therapeutics

Inc

(e)

5,468‌

190‌

Sana

Biotechnology

Inc

(a),(e)

816‌

5‌

Savara

Inc

(e)

894‌

3‌

Scilex

Holding

Co

(e)

1,010‌

5‌

Selecta

Biosciences

Inc

(e)

3,555‌

4‌

SpringWorks

Therapeutics

Inc

(e)

6,433‌

202‌

Syndax

Pharmaceuticals

Inc

(e)

6,058‌

129‌

Tela

Bio

Inc

(e)

1,875‌

18‌

Terns

Pharmaceuticals

Inc

(e)

3,340‌

24‌

TG

Therapeutics

Inc

(e)

15,153‌

313‌

Tobira

Therapeutics

Inc

-

Rights

(e),(f)

1,559‌

—‌

Travere

Therapeutics

Inc

(e)

226,072‌

3,886‌

Tyra

Biosciences

Inc

(a),(e)

595‌

9‌

Ultragenyx

Pharmaceutical

Inc

(e)

242,974‌

10,477‌

UroGen

Pharma

Ltd

(e)

1,891‌

41‌

Vaxxinity

Inc

(e)

5,034‌

13‌

Ventyx

Biosciences

Inc

(e)

5,166‌

191‌

Vera

Therapeutics

Inc

(e)

1,801‌

34‌

Vericel

Corp

(e)

5,257‌

189‌

Viking

Therapeutics

Inc

(e)

260,955‌

3,784‌

Vir

Biotechnology

Inc

(e)

211,643‌

2,980‌

Viridian

Therapeutics

Inc

(e)

215,985‌

4,052‌

X4

Pharmaceuticals

Inc

(e)

7,269‌

13‌

Xencor

Inc

(e)

3,482‌

85‌

Zentalis

Pharmaceuticals

Inc

(e)

167,946‌

4,486‌

$

213,863‌

Building

Materials

-

0

.64

%

AAON

Inc

4,989‌

525‌

American

Woodmark

Corp

(e)

101‌

8‌

Apogee

Enterprises

Inc

929‌

46‌

AZEK

Co

Inc/The

(e)

418,314‌

13,051‌

Gibraltar

Industries

Inc

(e)

1,921‌

124‌

Griffon

Corp

2,892‌

121‌

LSI

Industries

Inc

2,186‌

28‌

Masonite

International

Corp

(e)

2,451‌

256‌

Modine

Manufacturing

Co

(e)

3,637‌

137‌

PGT

Innovations

Inc

(e)

6,423‌

184‌

Simpson

Manufacturing

Co

Inc

4,740‌

749‌

SPX

Technologies

Inc

(e)

4,022‌

340‌

UFP

Industries

Inc

1,013‌

104‌

$

15,673‌

Chemicals

-

1

.64

%

American

Vanguard

Corp

556‌

10‌

Amyris

Inc

(a),(e)

3,073‌

3‌

Balchem

Corp

3,532‌

476‌

Cabot

Corp

6,118‌

434‌

Codexis

Inc

(e)

996‌

3‌

Ecovyst

Inc

(e)

2,258‌

28‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

217

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Chemicals

(continued)

Element

Solutions

Inc

481,652‌

$

10,095‌

Hawkins

Inc

2,136‌

100‌

HB

Fuller

Co

186,841‌

13,832‌

Ingevity

Corp

(e)

4,129‌

264‌

Innospec

Inc

2,423‌

260‌

Lightwave

Logic

Inc

(a),(e)

12,666‌

85‌

Livent

Corp

(e)

19,950‌

491‌

Oil-Dri

Corp

of

America

152‌

9‌

Orion

SA

6,196‌

136‌

Quaker

Chemical

Corp

67,504‌

13,527‌

Rogers

Corp

(e)

1,400‌

236‌

Sensient

Technologies

Corp

4,649‌

298‌

Stepan

Co

271‌

26‌

$

40,313‌

Coal

-

0

.00

%

Alpha

Metallurgical

Resources

Inc

108‌

19‌

Commercial

Services

-

6

.52

%

2U

Inc

(e)

671‌

3‌

AirSculpt

Technologies

Inc

(a)

1,082‌

10‌

Alarm.com

Holdings

Inc

(e)

5,292‌

292‌

Alta

Equipment

Group

Inc

2,096‌

34‌

AMN

Healthcare

Services

Inc

(e)

4,479‌

480‌

API

Group

Corp

(e)

15,537‌

447‌

Arlo

Technologies

Inc

(e)

8,453‌

96‌

ASGN

Inc

(e)

1,405‌

107‌

Barrett

Business

Services

Inc

680‌

62‌

Bright

Horizons

Family

Solutions

Inc

(e)

250,830‌

24,338‌

Brink's

Co/The

5,097‌

372‌

Carriage

Services

Inc

1,478‌

48‌

Cass

Information

Systems

Inc

1,327‌

50‌

CBIZ

Inc

(e)

5,293‌

280‌

Chegg

Inc

(e)

11,276‌

114‌

Cimpress

PLC

(e)

1,113‌

77‌

Cipher

Mining

Inc

(a),(e)

321‌

1‌

CompoSecure

Inc

(e)

1,734‌

13‌

CorVel

Corp

(e)

959‌

196‌

Coursera

Inc

(e)

14,385‌

226‌

CPI

Card

Group

Inc

(e)

505‌

12‌

CRA

International

Inc

747‌

75‌

Cross

Country

Healthcare

Inc

(e)

648‌

17‌

Custom

Truck

One

Source

Inc

(e)

6,262‌

43‌

Distribution

Solutions

Group

Inc

(e)

442‌

24‌

Driven

Brands

Holdings

Inc

(e)

384,143‌

9,938‌

European

Wax

Center

Inc

(a),(e)

333,763‌

6,465‌

EVERTEC

Inc

7,220‌

284‌

First

Advantage

Corp

(e)

198,382‌

2,975‌

FiscalNote

Holdings

Inc

(e)

1,495‌

5‌

Flywire

Corp

(e)

423,460‌

14,456‌

Forrester

Research

Inc

(e)

1,295‌

41‌

Franklin

Covey

Co

(e)

1,344‌

64‌

FTI

Consulting

Inc

(e)

93,555‌

16,387‌

Hackett

Group

Inc/The

2,538‌

59‌

Healthcare

Services

Group

Inc

7,801‌

98‌

Herc

Holdings

Inc

55,843‌

7,474‌

HireQuest

Inc

634‌

16‌

Huron

Consulting

Group

Inc

(e)

2,099‌

198‌

I3

Verticals

Inc

(e)

41,429‌

1,036‌

ICF

International

Inc

2,066‌

243‌

Information

Services

Group

Inc

2,243‌

12‌

Insperity

Inc

27,985‌

3,293‌

Kforce

Inc

2,137‌

136‌

Laureate

Education

Inc

12,218‌

157‌

Legalzoom.com

Inc

(e)

11,503‌

176‌

Marathon

Digital

Holdings

Inc

(a),(e)

18,600‌

323‌

Marqeta

Inc

(e)

7,148‌

40‌

Matthews

International

Corp

866‌

40‌

Medifast

Inc

1,181‌

120‌

Mister

Car

Wash

Inc

(e)

1,245,489‌

12,368‌

National

Research

Corp

1,587‌

68‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

Payoneer

Global

Inc

(e)

29,283‌

$

156‌

Performant

Financial

Corp

(e)

5,945‌

18‌

Priority

Technology

Holdings

Inc

(e)

1,594‌

7‌

PROG

Holdings

Inc

(e)

979‌

40‌

Progyny

Inc

(e)

8,675‌

362‌

Remitly

Global

Inc

(e)

9,317‌

180‌

Rent

the

Runway

Inc

(e)

346‌

1‌

Rentokil

Initial

PLC

ADR

336,492‌

13,729‌

Riot

Platforms

Inc

(e)

12,328‌

228‌

Sabre

Corp

(e)

9,050‌

37‌

Shift4

Payments

Inc

(e)

283,178‌

19,537‌

SoundThinking

Inc

(e)

986‌

22‌

SP

Plus

Corp

(e)

2,158‌

83‌

Sterling

Check

Corp

(e)

189‌

2‌

StoneCo

Ltd

(e)

19,525‌

283‌

Stride

Inc

(e)

4,684‌

179‌

Target

Hospitality

Corp

(e)

3,450‌

44‌

Transcat

Inc

(e)

812‌

68‌

TriNet

Group

Inc

(e)

92,304‌

9,714‌

Triton

International

Ltd

913‌

77‌

Udemy

Inc

(e)

9,475‌

112‌

Universal

Technical

Institute

Inc

(e)

693‌

5‌

Upbound

Group

Inc

5,710‌

198‌

Viad

Corp

(e)

2,245‌

63‌

WEX

Inc

(e)

61,481‌

11,641‌

ZipRecruiter

Inc

(e)

7,703‌

143‌

$

160,818‌

Computers

-

2

.46

%

Cantaloupe

Inc

(e)

4,290‌

33‌

Corsair

Gaming

Inc

(e)

4,078‌

75‌

Cricut

Inc

5,280‌

63‌

ExlService

Holdings

Inc

(e)

3,570‌

503‌

Genpact

Ltd

450,351‌

16,253‌

Grid

Dynamics

Holdings

Inc

(e)

4,935‌

51‌

Insight

Enterprises

Inc

(e)

3,169‌

465‌

Integral

Ad

Science

Holding

Corp

(e)

4,170‌

87‌

Maximus

Inc

6,720‌

563‌

Mitek

Systems

Inc

(e)

4,442‌

45‌

NextNav

Inc

(e)

5,960‌

19‌

OneSpan

Inc

(e)

4,091‌

56‌

PAR

Technology

Corp

(e)

249‌

9‌

Parsons

Corp

(e)

2,081‌

103‌

PlayAGS

Inc

(e)

4,076‌

27‌

Presto

Automation

Inc

(e)

556‌

2‌

Qualys

Inc

(e)

4,108‌

570‌

Rapid7

Inc

(e)

108,105‌

4,963‌

Rimini

Street

Inc

(e)

5,237‌

14‌

Super

Micro

Computer

Inc

(e)

55,068‌

18,187‌

Tenable

Holdings

Inc

(e)

217,809‌

10,599‌

Thoughtworks

Holding

Inc

(e)

10,223‌

73‌

TTEC

Holdings

Inc

2,144‌

74‌

Varonis

Systems

Inc

(e)

266,876‌

7,660‌

Velo3D

Inc

(e)

10,510‌

24‌

$

60,518‌

Consumer

Products

-

0

.01

%

Bright

Green

Corp

(a),(e)

7,126‌

5‌

WD-40

Co

1,497‌

344‌

$

349‌

Cosmetics

&

Personal

Care

-

0

.04

%

Beauty

Health

Co/The

(e)

9,034‌

75‌

elf

Beauty

Inc

(e)

5,546‌

647‌

Inter

Parfums

Inc

2,025‌

303‌

$

1,025‌

Distribution

&

Wholesale

-

0

.58

%

EVI

Industries

Inc

(e)

469‌

12‌

Global

Industrial

Co

1,134‌

32‌

H&E

Equipment

Services

Inc

3,551‌

172‌

Hudson

Technologies

Inc

(e)

842‌

8‌

MRC

Global

Inc

(e)

3,150‌

36‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

218

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Distribution

&

Wholesale

(continued)

SiteOne

Landscape

Supply

Inc

(e)

82,917‌

$

14,096‌

ThredUp

Inc

(e)

1,185‌

4‌

$

14,360‌

Diversified

Financial

Services

-

2

.26

%

AlTi

Global

Inc

(e)

2,485‌

19‌

Applied

Digital

Corp

(e)

270,432‌

2,591‌

Artisan

Partners

Asset

Management

Inc

4,906‌

204‌

AssetMark

Financial

Holdings

Inc

(e)

2,426‌

73‌

Atlanticus

Holdings

Corp

(e)

34‌

1‌

Avantax

Inc

(e)

3,860‌

100‌

B

Riley

Financial

Inc

(a)

2,048‌

114‌

BGC

Group

Inc

16,562‌

79‌

Bit

Digital

Inc

(e)

1,377‌

6‌

Brightsphere

Investment

Group

Inc

1,398‌

30‌

Brookfield

Business

Corp

2,868‌

59‌

Cohen

&

Steers

Inc

2,870‌

185‌

Columbia

Financial

Inc

(e)

1,341‌

23‌

Diamond

Hill

Investment

Group

Inc

316‌

57‌

Federal

Agricultural

Mortgage

Corp

162‌

26‌

Focus

Financial

Partners

Inc

(e)

6,491‌

340‌

FTAI

Aviation

Ltd

255,273‌

8,222‌

GCM

Grosvenor

Inc

4,079‌

32‌

Hamilton

Lane

Inc

2,385‌

211‌

Hannon

Armstrong

Sustainable

Infrastructure

Capital

Inc

865‌

23‌

Houlihan

Lokey

Inc

181,119‌

18,085‌

International

Money

Express

Inc

(e)

3,409‌

83‌

LendingTree

Inc

(e)

300‌

7‌

Moelis

&

Co

132,687‌

6,479‌

NerdWallet

Inc

(e)

3,778‌

42‌

OppFi

Inc

(e)

142‌

—‌

Pagseguro

Digital

Ltd

(e)

13,361‌

152‌

Paysign

Inc

(e)

3,857‌

7‌

PennyMac

Financial

Services

Inc

191‌

14‌

Perella

Weinberg

Partners

4,705‌

47‌

Piper

Sandler

Cos

1,580‌

231‌

PJT

Partners

Inc

2,684‌

213‌

Regional

Management

Corp

127‌

4‌

Sculptor

Capital

Management

Inc

1,681‌

18‌

Silvercrest

Asset

Management

Group

Inc

1,050‌

22‌

StepStone

Group

Inc

326,603‌

9,168‌

Stifel

Financial

Corp

124,613‌

7,918‌

StoneX

Group

Inc

(e)

231‌

21‌

Upstart

Holdings

Inc

(e)

7,962‌

547‌

Victory

Capital

Holdings

Inc

2,750‌

91‌

Virtus

Investment

Partners

Inc

106‌

22‌

WisdomTree

Inc

15,248‌

106‌

World

Acceptance

Corp

(a),(e)

34‌

5‌

$

55,677‌

Electric

-

0

.23

%

Ameresco

Inc

(e)

85,794‌

4,994‌

FTC

Solar

Inc

(e)

7,021‌

27‌

Genie

Energy

Ltd

1,232‌

17‌

MGE

Energy

Inc

2,049‌

164‌

Ormat

Technologies

Inc

3,792‌

308‌

Otter

Tail

Corp

2,414‌

196‌

PNM

Resources

Inc

991‌

44‌

Unitil

Corp

501‌

26‌

$

5,776‌

Electrical

Components

&

Equipment

-

2

.20

%

Belden

Inc

2,904‌

281‌

Blink

Charging

Co

(a),(e)

2,902‌

19‌

Energizer

Holdings

Inc

7,917‌

283‌

EnerSys

4,242‌

459‌

Littelfuse

Inc

77,373‌

23,568‌

Novanta

Inc

(e)

90,170‌

15,951‌

Universal

Display

Corp

93,306‌

13,611‌

$

54,172‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electronics

-

1

.44

%

Advanced

Energy

Industries

Inc

4,154‌

$

520‌

Akoustis

Technologies

Inc

(e)

8,165‌

19‌

Allied

Motion

Technologies

Inc

1,527‌

59‌

Atkore

Inc

(e)

4,373‌

694‌

Badger

Meter

Inc

3,247‌

535‌

Bel

Fuse

Inc

95‌

5‌

Charge

Enterprises

Inc

(e)

15,230‌

14‌

Coherent

Corp

(e)

78,928‌

3,738‌

CTS

Corp

3,462‌

154‌

Enovix

Corp

(a),(e)

15,126‌

325‌

ESCO

Technologies

Inc

1,631‌

164‌

Evolv

Technologies

Holdings

Inc

(e)

2,449‌

16‌

FARO

Technologies

Inc

(e)

185‌

3‌

Itron

Inc

(e)

474‌

37‌

Kimball

Electronics

Inc

(e)

672‌

20‌

Mesa

Laboratories

Inc

564‌

73‌

MicroVision

Inc

(a),(e)

19,537‌

78‌

Napco

Security

Technologies

Inc

114,677‌

4,298‌

NEXTracker

Inc

(e)

295,934‌

12,534‌

NVE

Corp

462‌

37‌

OSI

Systems

Inc

(e)

1,748‌

208‌

Plexus

Corp

(e)

2,681‌

264‌

Sanmina

Corp

(e)

355‌

22‌

SKYX

Platforms

Corp

(e)

6,713‌

14‌

Stoneridge

Inc

(e)

583‌

12‌

Vicor

Corp

(e)

2,447‌

226‌

Woodward

Inc

95,810‌

11,534‌

$

35,603‌

Energy

-

Alternate

Sources

-

0

.51

%

Array

Technologies

Inc

(e)

16,738‌

319‌

Cleanspark

Inc

(e)

1,123‌

7‌

Enviva

Inc

3,455‌

47‌

Eos

Energy

Enterprises

Inc

(a),(e)

10,693‌

26‌

Fluence

Energy

Inc

(a),(e)

4,346‌

127‌

Green

Plains

Inc

(e)

1,120‌

40‌

Maxeon

Solar

Technologies

Ltd

(e)

1,864‌

46‌

Montauk

Renewables

Inc

(e)

7,361‌

64‌

REX

American

Resources

Corp

(e)

469‌

17‌

Shoals

Technologies

Group

Inc

(e)

450,807‌

11,703‌

Sunnova

Energy

International

Inc

(a),(e)

5,408‌

96‌

SunPower

Corp

(a),(e)

9,644‌

95‌

TPI

Composites

Inc

(e)

4,624‌

27‌

$

12,614‌

Engineering

&

Construction

-

1

.62

%

Bowman

Consulting

Group

Ltd

(e)

1,107‌

38‌

Comfort

Systems

USA

Inc

91,737‌

15,959‌

Concrete

Pumping

Holdings

Inc

(e)

1,784‌

14‌

Construction

Partners

Inc

(e)

4,437‌

131‌

Dycom

Industries

Inc

(e)

3,164‌

315‌

Exponent

Inc

73,380‌

6,573‌

Fluor

Corp

(e)

14,675‌

455‌

Frontdoor

Inc

(e)

9,093‌

318‌

Granite

Construction

Inc

669‌

27‌

IES

Holdings

Inc

(e)

900‌

52‌

INNOVATE

Corp

(e)

1,438‌

2‌

Iteris

Inc

(e)

2,730‌

11‌

Limbach

Holdings

Inc

(e)

202‌

5‌

MYR

Group

Inc

(e)

1,813‌

259‌

NV5

Global

Inc

(e)

80,064‌

8,771‌

Primoris

Services

Corp

403‌

13‌

Southland

Holdings

Inc

(e)

22‌

—‌

Sterling

Infrastructure

Inc

(e)

2,892‌

174‌

TopBuild

Corp

(e)

25,047‌

6,861‌

$

39,978‌

Entertainment

-

1

.21

%

Accel

Entertainment

Inc

(e)

5,954‌

68‌

Atlanta

Braves

Holdings

Inc

-

A

shares

(a),(e)

1,106‌

52‌

Atlanta

Braves

Holdings

Inc

-

C

shares

(e)

4,833‌

197‌

Bally's

Corp

(e)

1,777‌

29‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

219

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Entertainment

(continued)

Churchill

Downs

Inc

170,332‌

$

19,733‌

Cinemark

Holdings

Inc

(e)

10,116‌

169‌

Everi

Holdings

Inc

(e)

318,244‌

4,723‌

Golden

Entertainment

Inc

(e)

2,233‌

94‌

International

Game

Technology

PLC

12,000‌

406‌

Light

&

Wonder

Inc

(e)

4,730‌

332‌

Lions

Gate

Entertainment

Corp

-

A

shares

(e)

4,374‌

33‌

Lions

Gate

Entertainment

Corp

-

B

shares

(e)

8,695‌

64‌

Loop

Media

Inc

(e)

4,306‌

10‌

Madison

Square

Garden

Entertainment

Corp

(e)

4,076‌

142‌

Monarch

Casino

&

Resort

Inc

1,484‌

103‌

RCI

Hospitality

Holdings

Inc

942‌

66‌

Red

Rock

Resorts

Inc

2,833‌

137‌

Rush

Street

Interactive

Inc

(e)

6,952‌

27‌

SeaWorld

Entertainment

Inc

(e)

57,236‌

3,169‌

Six

Flags

Entertainment

Corp

(e)

6,328‌

151‌

Super

Group

SGHC

Ltd

(e)

15,067‌

46‌

$

29,751‌

Environmental

Control

-

1

.97

%

374Water

Inc

(e)

6,993‌

14‌

Casella

Waste

Systems

Inc

(e)

67,657‌

5,459‌

Energy

Recovery

Inc

(e)

6,153‌

187‌

Heritage-Crystal

Clean

Inc

(e)

302‌

14‌

LanzaTech

Global

Inc

(e)

2,437‌

16‌

Montrose

Environmental

Group

Inc

(e)

149,105‌

6,035‌

Pure

Cycle

Corp

(e)

2,156‌

27‌

PureCycle

Technologies

Inc

(a),(e)

2,834‌

33‌

Tetra

Tech

Inc

64,379‌

10,894‌

Waste

Connections

Inc

182,761‌

25,800‌

$

48,479‌

Food

-

2

.03

%

Beyond

Meat

Inc

(a),(e)

6,545‌

113‌

Calavo

Growers

Inc

1,908‌

72‌

Cal-Maine

Foods

Inc

3,951‌

183‌

Chefs'

Warehouse

Inc/The

(e)

316,278‌

11,493‌

Fresh

Market

Inc

-

Escrow

(a),(e),(f)

9,211‌

—‌

Grocery

Outlet

Holding

Corp

(e)

372,480‌

12,459‌

Hostess

Brands

Inc

(e)

2,727‌

66‌

J

&

J

Snack

Foods

Corp

1,660‌

266‌

John

B

Sanfilippo

&

Son

Inc

987‌

108‌

Krispy

Kreme

Inc

3,091‌

48‌

Lancaster

Colony

Corp

2,155‌

415‌

Mission

Produce

Inc

(e)

809‌

9‌

Nathan's

Famous

Inc

277‌

22‌

Simply

Good

Foods

Co/The

(e)

528,514‌

20,459‌

Sprouts

Farmers

Market

Inc

(e)

11,448‌

449‌

SunOpta

Inc

(e)

9,489‌

63‌

TreeHouse

Foods

Inc

(e)

684‌

35‌

Utz

Brands

Inc

229,423‌

3,843‌

$

50,103‌

Food

Service

-

0

.00

%

Sovos

Brands

Inc

(e)

4,383‌

78‌

Forest

Products

&

Paper

-

0

.01

%

Sylvamo

Corp

4,021‌

197‌

Gas

-

0

.02

%

Brookfield

Infrastructure

Corp

1,067‌

50‌

Chesapeake

Utilities

Corp

1,240‌

147‌

New

Jersey

Resources

Corp

5,627‌

251‌

RGC

Resources

Inc

117‌

2‌

$

450‌

Hand

&

Machine

Tools

-

0

.54

%

Cadre

Holdings

Inc

2,143‌

50‌

Enerpac

Tool

Group

Corp

6,347‌

174‌

Franklin

Electric

Co

Inc

5,101‌

504‌

MSA

Safety

Inc

76,365‌

12,677‌

$

13,405‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Products

-

8

.18

%

Accuray

Inc

(e)

9,763‌

$

42‌

Adaptive

Biotechnologies

Corp

(e)

9,193‌

78‌

Akoya

Biosciences

Inc

(e)

2,149‌

15‌

Alphatec

Holdings

Inc

(e)

3,488‌

62‌

Artivion

Inc

(e)

711‌

12‌

AtriCure

Inc

(e)

382,433‌

21,168‌

Atrion

Corp

151‌

85‌

Avita

Medical

Inc

(e)

2,772‌

56‌

Axogen

Inc

(e)

4,488‌

39‌

Axonics

Inc

(e)

5,415‌

327‌

BioLife

Solutions

Inc

(e)

3,505‌

70‌

Bruker

Corp

183,970‌

12,642‌

Castle

Biosciences

Inc

(e)

1,131‌

19‌

Cerus

Corp

(e)

19,594‌

60‌

ClearPoint

Neuro

Inc

(e)

2,545‌

17‌

CONMED

Corp

3,384‌

410‌

Cutera

Inc

(e)

248‌

5‌

CVRx

Inc

(e)

156,733‌

2,810‌

Embecta

Corp

734‌

16‌

Establishment

Labs

Holdings

Inc

(e)

167,851‌

12,087‌

Glaukos

Corp

(e)

5,174‌

399‌

Haemonetics

Corp

(e)

53,478‌

4,933‌

ICU

Medical

Inc

(e)

32,487‌

5,788‌

Inari

Medical

Inc

(e)

308,305‌

17,596‌

InfuSystem

Holdings

Inc

(e)

2,146‌

22‌

Inmode

Ltd

(a),(e)

8,555‌

367‌

iRadimed

Corp

803‌

35‌

iRhythm

Technologies

Inc

(e)

82,892‌

8,709‌

KORU

Medical

Systems

Inc

(e)

4,129‌

11‌

Lantheus

Holdings

Inc

(e)

271,073‌

23,445‌

LeMaitre

Vascular

Inc

2,177‌

138‌

LivaNova

PLC

(e)

169,299‌

9,895‌

MaxCyte

Inc

(e)

725‌

3‌

Merit

Medical

Systems

Inc

(e)

109,420‌

8,170‌

NanoString

Technologies

Inc

(e)

5,121‌

24‌

Natera

Inc

(e)

193,907‌

8,768‌

Nevro

Corp

(e)

1,336‌

33‌

NuVasive

Inc

(e)

4,991‌

206‌

Omnicell

Inc

(e)

2,456‌

155‌

Orchestra

BioMed

Holdings

Inc

(e)

496‌

3‌

Orthofix

Medical

Inc

(e)

194,439‌

3,828‌

OrthoPediatrics

Corp

(e)

188,300‌

7,861‌

Pacific

Biosciences

of

California

Inc

(e)

15,255‌

201‌

Paragon

28

Inc

(e)

4,814‌

85‌

Patterson

Cos

Inc

2,100‌

69‌

PROCEPT

BioRobotics

Corp

(e)

3,983‌

137‌

Pulmonx

Corp

(e)

4,047‌

57‌

Pulse

Biosciences

Inc

(e)

490‌

4‌

Quanterix

Corp

(e)

668‌

17‌

Repligen

Corp

(e)

42,991‌

7,375‌

RxSight

Inc

(e)

2,989‌

100‌

Sanara

Medtech

Inc

(e)

450‌

19‌

Semler

Scientific

Inc

(e)

592‌

14‌

SI-BONE

Inc

(e)

469,970‌

12,107‌

Silk

Road

Medical

Inc

(e)

4,241‌

97‌

STAAR

Surgical

Co

(e)

5,367‌

294‌

Surmodics

Inc

(e)

1,517‌

49‌

Tactile

Systems

Technology

Inc

(e)

2,566‌

59‌

TransMedics

Group

Inc

(e)

122,794‌

11,442‌

Treace

Medical

Concepts

Inc

(e)

835,810‌

19,048‌

UFP

Technologies

Inc

(e)

779‌

152‌

Utah

Medical

Products

Inc

351‌

34‌

Vicarious

Surgical

Inc

(e)

3,909‌

6‌

Zynex

Inc

(a),(e)

2,236‌

22‌

$

201,797‌

Healthcare

-

Services

-

2

.34

%

Accolade

Inc

(e)

660,570‌

9,921‌

Addus

HomeCare

Corp

(e)

812‌

74‌

Agiliti

Inc

(e)

2,976‌

51‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

220

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Services

(continued)

agilon

health

Inc

(e)

439,863‌

$

8,423‌

Aveanna

Healthcare

Holdings

Inc

(e)

1,679‌

3‌

Cano

Health

Inc

(e)

2,121‌

3‌

DocGo

Inc

(e)

630,241‌

5,288‌

Encompass

Health

Corp

175,668‌

11,599‌

Ensign

Group

Inc/The

6,023‌

583‌

HealthEquity

Inc

(e)

225,477‌

15,319‌

Innovage

Holding

Corp

(e)

2,235‌

16‌

Invitae

Corp

(a),(e)

25,062‌

36‌

Joint

Corp/The

(e)

1,682‌

23‌

LifeStance

Health

Group

Inc

(e)

113,385‌

1,065‌

ModivCare

Inc

(e)

1,405‌

62‌

Nano-X

Imaging

Ltd

(e)

581‌

7‌

Oscar

Health

Inc

(e)

1,407‌

11‌

P3

Health

Partners

Inc

(a),(e)

4,706‌

10‌

Pennant

Group

Inc/The

(e)

3,195‌

37‌

Quipt

Home

Medical

Corp

(e)

4,453‌

24‌

RadNet

Inc

(e)

84,541‌

2,796‌

Select

Medical

Holdings

Corp

11,484‌

345‌

Surgery

Partners

Inc

(e)

6,771‌

262‌

Thorne

HealthTech

Inc

(e)

263,934‌

1,576‌

US

Physical

Therapy

Inc

1,429‌

166‌

Viemed

Healthcare

Inc

(e)

3,766‌

32‌

$

57,732‌

Home

Builders

-

0

.93

%

Cavco

Industries

Inc

(e)

962‌

284‌

Dream

Finders

Homes

Inc

(a),(e)

1,086‌

28‌

Green

Brick

Partners

Inc

(e)

951‌

54‌

Installed

Building

Products

Inc

2,616‌

387‌

LCI

Industries

1,028‌

140‌

LGI

Homes

Inc

(e)

170‌

24‌

Meritage

Homes

Corp

75,040‌

11,177‌

Skyline

Champion

Corp

(e)

156,719‌

10,917‌

$

23,011‌

Home

Furnishings

-

0

.25

%

Arhaus

Inc

(a),(e)

209,494‌

2,401‌

IMAX

Corp

(e)

4,960‌

91‌

iRobot

Corp

(e)

2,739‌

109‌

Lovesac

Co/The

(e)

1,546‌

45‌

Sleep

Number

Corp

(e)

1,250‌

35‌

Sonos

Inc

(e)

14,036‌

241‌

Vizio

Holding

Corp

(e)

431,814‌

3,217‌

$

6,139‌

Insurance

-

1

.75

%

AMERISAFE

Inc

1,073‌

56‌

BRP

Group

Inc

(e)

264,055‌

6,578‌

Crawford

&

Co

1,712‌

17‌

eHealth

Inc

(e)

766‌

6‌

F&G

Annuities

&

Life

Inc

128‌

3‌

Goosehead

Insurance

Inc

(e)

2,376‌

159‌

HCI

Group

Inc

707‌

44‌

Investors

Title

Co

26‌

4‌

Kingsway

Financial

Services

Inc

(e)

1,259‌

11‌

Kinsale

Capital

Group

Inc

1,270‌

473‌

Lemonade

Inc

(a),(e)

1,001‌

23‌

NMI

Holdings

Inc

(e)

778‌

21‌

Palomar

Holdings

Inc

(e)

130,832‌

7,923‌

RLI

Corp

88,651‌

11,827‌

Ryan

Specialty

Holdings

Inc

(e)

230,970‌

10,010‌

Selective

Insurance

Group

Inc

6,652‌

686‌

SiriusPoint

Ltd

(e)

1,050‌

10‌

Skyward

Specialty

Insurance

Group

Inc

(a),(e)

212,886‌

5,043‌

Tiptree

Inc

779‌

12‌

Trupanion

Inc

(e)

4,370‌

135‌

Universal

Insurance

Holdings

Inc

654‌

10‌

$

43,051‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Internet

-

1

.46

%

Angi

Inc

(e)

1,002,933‌

$

3,881‌

Cargurus

Inc

(e)

10,807‌

245‌

CarParts.com

Inc

(e)

5,863‌

29‌

Cars.com

Inc

(e)

7,349‌

168‌

Cogent

Communications

Holdings

Inc

204,692‌

12,535‌

Couchbase

Inc

(e)

3,752‌

63‌

ePlus

Inc

(e)

178‌

10‌

Eventbrite

Inc

(e)

7,721‌

89‌

EverQuote

Inc

(e)

2,097‌

15‌

Figs

Inc

(e)

12,469‌

92‌

Gambling.com

Group

Ltd

(e)

1,261‌

15‌

Grindr

Inc

(e)

4,524‌

27‌

HealthStream

Inc

1,099‌

25‌

Hims

&

Hers

Health

Inc

(e)

13,499‌

121‌

Liquidity

Services

Inc

(e)

1,537‌

26‌

Magnite

Inc

(e)

6,269‌

95‌

MediaAlpha

Inc

(e)

1,977‌

20‌

Mondee

Holdings

Inc

(a),(e)

4,303‌

37‌

Nerdy

Inc

(e)

6,541‌

32‌

Nextdoor

Holdings

Inc

(e)

9,592‌

30‌

Open

Lending

Corp

(e)

10,126‌

114‌

Opendoor

Technologies

Inc

(e)

3,419‌

17‌

OptimizeRx

Corp

(e)

1,834‌

26‌

Perficient

Inc

(e)

40,934‌

2,611‌

Pinterest

Inc

(e)

487,099‌

14,121‌

Q2

Holdings

Inc

(e)

6,289‌

223‌

QuinStreet

Inc

(e)

5,736‌

51‌

Revolve

Group

Inc

(e)

4,531‌

89‌

Rover

Group

Inc

(e)

10,258‌

56‌

Shutterstock

Inc

2,723‌

140‌

Solo

Brands

Inc

(e)

1,933‌

11‌

Sprinklr

Inc

(e)

9,609‌

135‌

Squarespace

Inc

(e)

1,498‌

50‌

Stitch

Fix

Inc

(e)

4,753‌

24‌

TechTarget

Inc

(e)

2,878‌

93‌

Tucows

Inc

(a),(e)

474‌

15‌

Upwork

Inc

(e)

13,671‌

143‌

Vivid

Seats

Inc

(e)

717‌

6‌

Yelp

Inc

(e)

7,438‌

335‌

Ziff

Davis

Inc

(e)

1,197‌

87‌

$

35,902‌

Investment

Companies

-

0

.12

%

Trinity

Capital

Inc

(a)

193,307‌

2,822‌

Iron

&

Steel

-

0

.80

%

ATI

Inc

(e)

174,939‌

8,341‌

Carpenter

Technology

Corp

188,701‌

11,296‌

$

19,637‌

Leisure

Products

&

Services

-

1

.16

%

Acushnet

Holdings

Corp

3,446‌

205‌

Bowlero

Corp

(e)

2,769‌

34‌

Camping

World

Holdings

Inc

(a)

4,617‌

148‌

Clarus

Corp

(a)

541,420‌

4,818‌

Dragonfly

Energy

Holdings

Corp

(a),(e)

1,801‌

5‌

Escalade

Inc

175‌

3‌

Global

Business

Travel

Group

I

(e)

3,560‌

25‌

Liberty

TripAdvisor

Holdings

Inc

(e)

61‌

3‌

Life

Time

Group

Holdings

Inc

(e)

540,463‌

9,777‌

Lindblad

Expeditions

Holdings

Inc

(e)

233‌

3‌

Livewire

Group

Inc

(e)

1,304‌

16‌

Malibu

Boats

Inc

(e)

1,384‌

83‌

Marine

Products

Corp

966‌

15‌

MasterCraft

Boat

Holdings

Inc

(e)

1,935‌

59‌

OneSpaWorld

Holdings

Ltd

(e)

8,060‌

104‌

Planet

Fitness

Inc

(e)

193,587‌

13,075‌

Virgin

Galactic

Holdings

Inc

(a),(e)

15,680‌

67‌

Xponential

Fitness

Inc

(e)

2,328‌

49‌

$

28,489‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

221

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Lodging

-

0

.91

%

Bluegreen

Vacations

Holding

Corp

949‌

$

37‌

Century

Casinos

Inc

(e)

2,463‌

20‌

Choice

Hotels

International

Inc

56,454‌

7,381‌

Full

House

Resorts

Inc

(e)

3,360‌

22‌

Hilton

Grand

Vacations

Inc

(e)

323,494‌

15,042‌

$

22,502‌

Machinery

-

Construction

&

Mining

-

0

.16

%

Babcock

&

Wilcox

Enterprises

Inc

(e)

582,332‌

3,192‌

Bloom

Energy

Corp

(a),(e)

21,288‌

380‌

Hyster-Yale

Materials

Handling

Inc

1,195‌

57‌

NuScale

Power

Corp

(e)

5,916‌

45‌

Terex

Corp

4,304‌

252‌

Transphorm

Inc

(e)

3,194‌

10‌

$

3,936‌

Machinery

-

Diversified

-

3

.01

%

Alamo

Group

Inc

1,111‌

215‌

Albany

International

Corp

3,015‌

290‌

Applied

Industrial

Technologies

Inc

4,261‌

618‌

Cactus

Inc

350,314‌

17,789‌

Chart

Industries

Inc

(e)

71,207‌

12,971‌

CIRCOR

International

Inc

(e)

1,786‌

100‌

CSW

Industrials

Inc

1,700‌

307‌

Esab

Corp

169,024‌

11,612‌

Gorman-Rupp

Co/The

600‌

19‌

GrafTech

International

Ltd

12,077‌

64‌

IDEX

Corp

21,366‌

4,825‌

Kadant

Inc

1,288‌

287‌

Lindsay

Corp

1,218‌

161‌

Middleby

Corp/The

(e)

68,314‌

10,374‌

Mueller

Water

Products

Inc

-

Class

A

290,330‌

4,671‌

Tennant

Co

1,074‌

86‌

Thermon

Group

Holdings

Inc

(e)

455‌

13‌

Watts

Water

Technologies

Inc

3,019‌

563‌

Zurn

Elkay

Water

Solutions

Corp

304,701‌

9,275‌

$

74,240‌

Media

-

0

.00

%

EW

Scripps

Co/The

(e)

3,092‌

31‌

GCI

Liberty

Inc

-

Escrow

(e),(f)

167,286‌

—‌

Gray

Television

Inc

649‌

6‌

Sinclair

Inc

669‌

9‌

Townsquare

Media

Inc

1,381‌

17‌

Value

Line

Inc

81‌

4‌

$

67‌

Metal

Fabrication

&

Hardware

-

0

.38

%

Helios

Technologies

Inc

3,617‌

229‌

Janus

International

Group

Inc

(e)

9,382‌

107‌

Mayville

Engineering

Co

Inc

(e)

181‌

2‌

Mueller

Industries

Inc

2,684‌

218‌

Omega

Flex

Inc

357‌

32‌

Ryerson

Holding

Corp

180‌

8‌

Standex

International

Corp

1,051‌

156‌

Valmont

Industries

Inc

32,402‌

8,578‌

Xometry

Inc

(e)

456‌

9‌

$

9,339‌

Mining

-

0

.04

%

5E

Advanced

Materials

Inc

(e)

3,759‌

13‌

Century

Aluminum

Co

(e)

5,810‌

54‌

Compass

Minerals

International

Inc

3,782‌

143‌

Constellium

SE

(e)

8,645‌

165‌

Contango

ORE

Inc

(e)

215‌

4‌

Dakota

Gold

Corp

(e)

4,276‌

13‌

Energy

Fuels

Inc/Canada

(a),(e)

14,961‌

96‌

Hecla

Mining

Co

13,939‌

80‌

i-80

Gold

Corp

(e)

1,486‌

3‌

Ivanhoe

Electric

Inc

/

US

(e)

6,159‌

100‌

Kaiser

Aluminum

Corp

1,667‌

135‌

NioCorp

Developments

Ltd

(e)

502‌

2‌

Novagold

Resources

Inc

(e)

26,719‌

121‌

Perpetua

Resources

Corp

(e)

4,461‌

17‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Mining

(continued)

Piedmont

Lithium

Inc

(e)

667‌

$

37‌

United

States

Lime

&

Minerals

Inc

223‌

46‌

$

1,029‌

Miscellaneous

Manufacturers

-

1

.17

%

Axon

Enterprise

Inc

(e)

29,983‌

5,575‌

Chase

Corp

709‌

89‌

Core

Molding

Technologies

Inc

(e)

123‌

3‌

Fabrinet

(e)

4,065‌

503‌

Federal

Signal

Corp

6,621‌

405‌

Hillenbrand

Inc

7,631‌

396‌

ITT

Inc

123,352‌

12,286‌

John

Bean

Technologies

Corp

73,592‌

9,097‌

Materion

Corp

2,265‌

270‌

Myers

Industries

Inc

4,035‌

79‌

Sight

Sciences

Inc

(e)

2,553‌

22‌

Sturm

Ruger

&

Co

Inc

1,784‌

94‌

Trinity

Industries

Inc

1,630‌

43‌

$

28,862‌

Office

&

Business

Equipment

-

0

.00

%

Pitney

Bowes

Inc

19,388‌

76‌

Office

Furnishings

-

0

.00

%

HNI

Corp

522‌

15‌

Oil

&

Gas

-

2

.29

%

Borr

Drilling

Ltd

(a),(e)

25,284‌

222‌

Crescent

Energy

Co

(a)

1,773‌

21‌

CVR

Energy

Inc

2,952‌

109‌

Denbury

Inc

(e)

142,529‌

12,529‌

Empire

Petroleum

Corp

(e)

931‌

8‌

Evolution

Petroleum

Corp

3,479‌

33‌

HighPeak

Energy

Inc

(a)

1,055‌

16‌

Kosmos

Energy

Ltd

(e)

50,457‌

358‌

Magnolia

Oil

&

Gas

Corp

18,968‌

420‌

Matador

Resources

Co

58,948‌

3,279‌

Nabors

Industries

Ltd

(e)

909‌

111‌

Noble

Corp

PLC

9,861‌

515‌

Northern

Oil

and

Gas

Inc

235,431‌

9,269‌

Par

Pacific

Holdings

Inc

(e)

2,344‌

74‌

Permian

Resources

Corp

941,315‌

11,005‌

Riley

Exploration

Permian

Inc

973‌

36‌

SilverBow

Resources

Inc

(e)

225‌

8‌

Sitio

Royalties

Corp

3,932‌

108‌

Southwestern

Energy

Co

(e)

1,665,620‌

10,793‌

Tellurian

Inc

(e)

3,658‌

6‌

VAALCO

Energy

Inc

1,404‌

6‌

Valaris

Ltd

(e)

70,048‌

5,380‌

Vertex

Energy

Inc

(a),(e)

7,454‌

39‌

W&T

Offshore

Inc

(e)

10,857‌

48‌

Weatherford

International

PLC

(e)

23,615‌

1,963‌

$

56,356‌

Oil

&

Gas

Services

-

2

.23

%

Archrock

Inc

2,746‌

32‌

Aris

Water

Solutions

Inc

244‌

3‌

Atlas

Energy

Solutions

Inc

(a)

332‌

7‌

ChampionX

Corp

1,088,590‌

38,754‌

Core

Laboratories

Inc

1,654‌

43‌

DMC

Global

Inc

(e)

717‌

14‌

Expro

Group

Holdings

NV

(e)

3,651‌

81‌

KLX

Energy

Services

Holdings

Inc

(e)

278‌

3‌

Liberty

Energy

Inc

1,216‌

20‌

NexTier

Oilfield

Solutions

Inc

(e)

2,987‌

36‌

Oceaneering

International

Inc

(e)

11,105‌

249‌

ProFrac

Holding

Corp

(e)

662‌

8‌

Solaris

Oilfield

Infrastructure

Inc

289‌

3‌

TechnipFMC

PLC

602,318‌

11,046‌

TETRA

Technologies

Inc

(e)

973,449‌

4,371‌

Tidewater

Inc

(e)

5,248‌

331‌

$

55,001‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

222

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Packaging

&

Containers

-

0

.01

%

Karat

Packaging

Inc

555‌

$

11‌

O-I

Glass

Inc

(e)

14,628‌

336‌

$

347‌

Pharmaceuticals

-

3

.40

%

Aclaris

Therapeutics

Inc

(e)

7,667‌

76‌

AdaptHealth

Corp

(e)

4,201‌

58‌

Alector

Inc

(e)

7,006‌

48‌

Alkermes

PLC

(e)

18,326‌

537‌

Amphastar

Pharmaceuticals

Inc

(e)

4,193‌

254‌

Amylyx

Pharmaceuticals

Inc

(e)

233,181‌

5,468‌

Arvinas

Inc

(e)

36,517‌

903‌

Ascendis

Pharma

A/S

ADR

(e)

91,255‌

8,227‌

BellRing

Brands

Inc

(e)

3,954‌

142‌

Beyond

Air

Inc

(e)

2,638‌

9‌

Biote

Corp

(e)

764‌

5‌

Bioxcel

Therapeutics

Inc

(a),(e)

2,114‌

19‌

Catalyst

Pharmaceuticals

Inc

(e)

10,646‌

147‌

Citius

Pharmaceuticals

Inc

(e)

1,968‌

2‌

Coherus

Biosciences

Inc

(e)

6,973‌

34‌

Collegium

Pharmaceutical

Inc

(e)

241,343‌

5,493‌

Corcept

Therapeutics

Inc

(e)

8,862‌

226‌

CorMedix

Inc

(a),(e)

4,889‌

22‌

Enanta

Pharmaceuticals

Inc

(e)

236‌

4‌

Eyenovia

Inc

(e)

3,287‌

7‌

Fennec

Pharmaceuticals

Inc

(e)

551‌

5‌

Foghorn

Therapeutics

Inc

(a),(e)

2,195‌

20‌

Harmony

Biosciences

Holdings

Inc

(e)

3,641‌

129‌

Harrow

Health

Inc

(e)

2,870‌

63‌

Herbalife

Ltd

(e)

8,002‌

130‌

Heron

Therapeutics

Inc

(e)

9,406‌

16‌

Immuneering

Corp

(e)

1,831‌

19‌

Ironwood

Pharmaceuticals

Inc

(e)

6,215‌

69‌

Longboard

Pharmaceuticals

Inc

(e)

636‌

5‌

Madrigal

Pharmaceuticals

Inc

(e)

39,641‌

8,139‌

MannKind

Corp

(e)

1,623,859‌

7,421‌

Marinus

Pharmaceuticals

Inc

(e)

5,499‌

58‌

Mirum

Pharmaceuticals

Inc

(e)

2,950‌

76‌

Morphic

Holding

Inc

(e)

94,200‌

5,344‌

Neurocrine

Biosciences

Inc

(e)

119,210‌

12,146‌

Nuvectis

Pharma

Inc

(a),(e)

811‌

11‌

Ocular

Therapeutix

Inc

(e)

8,615‌

39‌

Optinose

Inc

(e)

8,610‌

10‌

Option

Care

Health

Inc

(e)

18,796‌

635‌

Outlook

Therapeutics

Inc

(a),(e)

17,117‌

30‌

Pacira

BioSciences

Inc

(e)

5,029‌

183‌

PetIQ

Inc

(e)

2,520‌

42‌

Phibro

Animal

Health

Corp

697‌

10‌

Protagonist

Therapeutics

Inc

(e)

3,756‌

73‌

Reata

Pharmaceuticals

Inc

(e)

85,737‌

14,196‌

Reneo

Pharmaceuticals

Inc

(e)

747‌

6‌

Revance

Therapeutics

Inc

(e)

214,128‌

5,060‌

Rhythm

Pharmaceuticals

Inc

(e)

5,670‌

101‌

scPharmaceuticals

Inc

(e)

3,185‌

27‌

Seres

Therapeutics

Inc

(e)

7,047‌

34‌

SIGA

Technologies

Inc

5,034‌

29‌

Summit

Therapeutics

Inc

(e)

12,787‌

27‌

Supernus

Pharmaceuticals

Inc

(e)

5,427‌

167‌

USANA

Health

Sciences

Inc

(e)

1,252‌

81‌

Vaxcyte

Inc

(e)

157,805‌

7,584‌

Verrica

Pharmaceuticals

Inc

(e)

2,466‌

14‌

Voyager

Therapeutics

Inc

(e)

3,503‌

33‌

Xeris

Biopharma

Holdings

Inc

(e)

14,687‌

38‌

Y-mAbs

Therapeutics

Inc

(e)

2,036‌

12‌

$

83,763‌

Pipelines

-

0

.17

%

Equitrans

Midstream

Corp

13,999‌

145‌

Excelerate

Energy

Inc

182,443‌

3,871‌

Golar

LNG

Ltd

653‌

16‌

Kinetik

Holdings

Inc

164‌

6‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pipelines

(continued)

NextDecade

Corp

(e)

3,620‌

$

20‌

$

4,058‌

Private

Equity

-

0

.16

%

P10

Inc

321,298‌

3,807‌

Patria

Investments

Ltd

6,005‌

92‌

$

3,899‌

Real

Estate

-

0

.04

%

Anywhere

Real

Estate

Inc

(e)

1,199‌

10‌

Compass

Inc

(e)

28,279‌

118‌

eXp

World

Holdings

Inc

(a)

7,645‌

191‌

Marcus

&

Millichap

Inc

1,023‌

37‌

Maui

Land

&

Pineapple

Co

Inc

(e)

840‌

13‌

McGrath

RentCorp

2,726‌

263‌

Redfin

Corp

(e)

11,745‌

176‌

RMR

Group

Inc/The

1,187‌

28‌

St

Joe

Co/The

3,803‌

241‌

$

1,077‌

REITs

-

0

.82

%

Alexander's

Inc

233‌

45‌

CareTrust

REIT

Inc

1,090‌

23‌

CBL

&

Associates

Properties

Inc

2,230‌

49‌

Clipper

Realty

Inc

1,157‌

7‌

Community

Healthcare

Trust

Inc

1,881‌

66‌

EastGroup

Properties

Inc

72,509‌

12,847‌

Essential

Properties

Realty

Trust

Inc

1,806‌

44‌

Four

Corners

Property

Trust

Inc

1,041‌

27‌

Gladstone

Commercial

Corp

840‌

11‌

National

Health

Investors

Inc

447‌

25‌

NexPoint

Residential

Trust

Inc

757‌

31‌

Outfront

Media

Inc

7,616‌

118‌

Phillips

Edison

&

Co

Inc

2,215‌

78‌

Ryman

Hospitality

Properties

Inc

38,642‌

3,682‌

Saul

Centers

Inc

1,180‌

45‌

Tanger

Factory

Outlet

Centers

Inc

5,284‌

124‌

Terreno

Realty

Corp

49,925‌

2,963‌

UMH

Properties

Inc

1,122‌

19‌

Universal

Health

Realty

Income

Trust

1,418‌

68‌

$

20,272‌

Retail

-

5

.50

%

Abercrombie

&

Fitch

Co

(e)

2,792‌

111‌

Academy

Sports

&

Outdoors

Inc

8,249‌

493‌

American

Eagle

Outfitters

Inc

4,540‌

64‌

Arko

Corp

9,100‌

76‌

Beacon

Roofing

Supply

Inc

(e)

560‌

48‌

BJ's

Restaurants

Inc

(e)

164,915‌

6,210‌

Bloomin'

Brands

Inc

9,684‌

260‌

Boot

Barn

Holdings

Inc

(e)

3,284‌

308‌

Brinker

International

Inc

(e)

4,452‌

175‌

Buckle

Inc/The

3,372‌

123‌

Build-A-Bear

Workshop

Inc

1,147‌

28‌

Carvana

Co

(a),(e)

4,663‌

214‌

Casey's

General

Stores

Inc

73,182‌

18,490‌

Cheesecake

Factory

Inc/The

5,359‌

197‌

Chuy's

Holdings

Inc

(e)

104,624‌

4,351‌

Cracker

Barrel

Old

Country

Store

Inc

2,434‌

227‌

Dave

&

Buster's

Entertainment

Inc

(e)

4,789‌

219‌

Denny's

Corp

(e)

4,671‌

55‌

Dillard's

Inc

400‌

137‌

Dine

Brands

Global

Inc

1,550‌

94‌

Duluth

Holdings

Inc

(e)

100‌

1‌

Envela

Corp

(e)

898‌

7‌

EVgo

Inc

(a),(e)

890‌

4‌

First

Watch

Restaurant

Group

Inc

(e)

145,162‌

2,706‌

FirstCash

Holdings

Inc

4,160‌

396‌

Five

Below

Inc

(e)

57,780‌

12,038‌

Franchise

Group

Inc

(a)

2,405‌

72‌

Freshpet

Inc

(e)

298,394‌

21,944‌

GMS

Inc

(e)

1,450‌

107‌

Guess?

Inc

392‌

8‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

223

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Hibbett

Inc

1,154‌

$

54‌

Jack

in

the

Box

Inc

70,510‌

7,010‌

Kura

Sushi

USA

Inc

(e)

640‌

64‌

Leslie's

Inc

(e)

1,806‌

12‌

Lithia

Motors

Inc

37,170‌

11,542‌

National

Vision

Holdings

Inc

(e)

230,059‌

4,976‌

Noodles

&

Co

(e)

4,219‌

15‌

ONE

Group

Hospitality

Inc/The

(e)

2,468‌

18‌

Papa

John's

International

Inc

3,002‌

248‌

Patrick

Industries

Inc

286‌

25‌

Petco

Health

&

Wellness

Co

Inc

(e)

440,202‌

3,592‌

Portillo's

Inc

(e)

236,332‌

5,447‌

Potbelly

Corp

(e)

2,879‌

27‌

PriceSmart

Inc

2,008‌

156‌

Qurate

Retail

Inc

(e)

319‌

2‌

Red

Robin

Gourmet

Burgers

Inc

(e)

1,749‌

25‌

Sally

Beauty

Holdings

Inc

(e)

11,169‌

134‌

Savers

Value

Village

Inc

(e)

426,905‌

10,319‌

Shake

Shack

Inc

(e)

4,171‌

324‌

Sweetgreen

Inc

(e)

8,599‌

130‌

Texas

Roadhouse

Inc

106,349‌

11,863‌

Warby

Parker

Inc

(a),(e)

9,362‌

140‌

Wingstop

Inc

60,995‌

10,283‌

$

135,569‌

Savings

&

Loans

-

0

.39

%

Axos

Financial

Inc

(e)

79,042‌

3,715‌

FS

Bancorp

Inc

154‌

5‌

Greene

County

Bancorp

Inc

436‌

15‌

HomeTrust

Bancshares

Inc

407‌

10‌

Pacific

Premier

Bancorp

Inc

231,490‌

5,912‌

$

9,657‌

Semiconductors

-

4

.62

%

ACM

Research

Inc

(e)

707‌

9‌

Aehr

Test

Systems

(e)

2,855‌

149‌

Allegro

MicroSystems

Inc

(e)

201,378‌

10,393‌

Ambarella

Inc

(e)

34,951‌

2,916‌

Atomera

Inc

(a),(e)

1,788‌

15‌

Axcelis

Technologies

Inc

(e)

3,599‌

722‌

CEVA

Inc

(e)

2,275‌

62‌

Diodes

Inc

(e)

3,915‌

370‌

Entegris

Inc

117,604‌

12,902‌

FormFactor

Inc

(e)

99,294‌

3,690‌

Impinj

Inc

(e)

26,341‌

1,755‌

inTEST

Corp

(e)

1,182‌

25‌

IPG

Photonics

Corp

(e)

23,895‌

3,141‌

Kulicke

&

Soffa

Industries

Inc

4,304‌

258‌

Lattice

Semiconductor

Corp

(e)

156,058‌

14,192‌

MACOM

Technology

Solutions

Holdings

Inc

(e)

240,276‌

16,800‌

MaxLinear

Inc

(e)

8,240‌

203‌

Navitas

Semiconductor

Corp

(e)

1,906‌

20‌

Onto

Innovation

Inc

(e)

128,051‌

15,919‌

Power

Integrations

Inc

112,354‌

10,914‌

Rambus

Inc

(e)

92,278‌

5,777‌

Silicon

Laboratories

Inc

(e)

64,860‌

9,674‌

SiTime

Corp

(e)

8,903‌

1,148‌

SkyWater

Technology

Inc

(e)

293,238‌

2,868‌

SMART

Global

Holdings

Inc

(e)

1,157‌

31‌

Synaptics

Inc

(e)

350‌

32‌

$

113,985‌

Software

-

12

.17

%

8x8

Inc

(e)

12,502‌

59‌

ACI

Worldwide

Inc

(e)

10,346‌

240‌

ACV

Auctions

Inc

(e)

731,150‌

12,788‌

Adeia

Inc

10,320‌

124‌

Agilysys

Inc

(e)

60,604‌

4,462‌

Alignment

Healthcare

Inc

(e)

410,445‌

2,548‌

Alkami

Technology

Inc

(e)

4,361‌

74‌

Altair

Engineering

Inc

(e)

203,802‌

15,273‌

American

Software

Inc/GA

2,786‌

32‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

Amplitude

Inc

(e)

7,477‌

$

87‌

Apollo

Medical

Holdings

Inc

(e)

4,729‌

173‌

Appfolio

Inc

(e)

2,118‌

382‌

Appian

Corp

(e)

4,532‌

233‌

Asana

Inc

(e)

8,778‌

213‌

Asure

Software

Inc

(e)

402‌

5‌

AvePoint

Inc

(e)

16,938‌

105‌

Avid

Technology

Inc

(e)

2,637‌

63‌

AvidXchange

Holdings

Inc

(e)

15,101‌

187‌

Bandwidth

Inc

(e)

500‌

8‌

Bentley

Systems

Inc

159,348‌

8,586‌

BigBear.ai

Holdings

Inc

(e)

3,174‌

6‌

BigCommerce

Holdings

Inc

(e)

7,422‌

80‌

Blackbaud

Inc

(e)

4,810‌

363‌

BlackLine

Inc

(e)

302,957‌

17,596‌

Box

Inc

(e)

15,580‌

487‌

Braze

Inc

(e)

325,825‌

14,812‌

C3.ai

Inc

(e)

4,936‌

207‌

CCC

Intelligent

Solutions

Holdings

Inc

(e)

367,669‌

4,052‌

Clear

Secure

Inc

329,330‌

7,808‌

Climb

Global

Solutions

Inc

407‌

20‌

CommVault

Systems

Inc

(e)

4,649‌

362‌

Consensus

Cloud

Solutions

Inc

(e)

1,236‌

40‌

CoreCard

Corp

(e)

857‌

21‌

CSG

Systems

International

Inc

3,442‌

178‌

CXApp

Inc

(a),(e)

233‌

2‌

Daily

Journal

Corp

(e)

31‌

9‌

Definitive

Healthcare

Corp

(e)

409,149‌

4,840‌

Digi

International

Inc

(e)

3,446‌

144‌

Digimarc

Corp

(a),(e)

1,567‌

46‌

Digital

Turbine

Inc

(e)

2,717‌

29‌

DigitalOcean

Holdings

Inc

(e)

263,108‌

13,029‌

Domo

Inc

(e)

3,382‌

60‌

Donnelley

Financial

Solutions

Inc

(e)

1,946‌

92‌

Duolingo

Inc

(e)

3,167‌

491‌

Dynatrace

Inc

(e)

314,188‌

17,183‌

Ebix

Inc

807‌

25‌

eGain

Corp

(e)

2,525‌

19‌

Enfusion

Inc

(e)

2,817‌

31‌

EngageSmart

Inc

(e)

5,366‌

102‌

Envestnet

Inc

(e)

143,312‌

8,883‌

Everbridge

Inc

(e)

4,493‌

139‌

EverCommerce

Inc

(e)

2,012‌

24‌

Evolent

Health

Inc

(e)

12,166‌

370‌

Expensify

Inc

(e)

6,097‌

49‌

Fastly

Inc

(e)

10,950‌

201‌

Five9

Inc

(e)

168,307‌

14,769‌

ForgeRock

Inc

(e)

5,218‌

108‌

Freshworks

Inc

(e)

692,574‌

12,923‌

Global-e

Online

Ltd

(e)

117,250‌

5,282‌

Health

Catalyst

Inc

(e)

3,344‌

47‌

IBEX

Holdings

Ltd

(e)

1,205‌

24‌

Innodata

Inc

(e)

2,782‌

36‌

Inspired

Entertainment

Inc

(e)

2,392‌

30‌

Instructure

Holdings

Inc

(e)

248,832‌

6,760‌

Intapp

Inc

(e)

1,724‌

71‌

IonQ

Inc

(e)

2,785‌

54‌

Jamf

Holding

Corp

(e)

7,717‌

168‌

Kaltura

Inc

(e)

9,801‌

20‌

LivePerson

Inc

(e)

7,028‌

33‌

LiveVox

Holdings

Inc

(e)

2,635‌

8‌

Manhattan

Associates

Inc

(e)

56,685‌

10,805‌

MeridianLink

Inc

(e)

1,968‌

44‌

MicroStrategy

Inc

(e)

1,222‌

535‌

Model

N

Inc

(e)

229,250‌

7,638‌

Monday.com

Ltd

(e)

62,060‌

11,219‌

N-able

Inc

(e)

6,952‌

98‌

NextGen

Healthcare

Inc

(e)

3,412‌

57‌

Olo

Inc

(e)

6,567‌

52‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

224

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

Outset

Medical

Inc

(e)

5,455‌

$

112‌

PagerDuty

Inc

(e)

9,424‌

244‌

PDF

Solutions

Inc

(e)

160,461‌

7,380‌

Phreesia

Inc

(e)

362,316‌

11,493‌

Planet

Labs

PBC

(e)

18,969‌

71‌

PowerSchool

Holdings

Inc

(e)

6,191‌

150‌

Privia

Health

Group

Inc

(e)

245,431‌

6,853‌

Progress

Software

Corp

4,807‌

289‌

PROS

Holdings

Inc

(e)

266,921‌

10,143‌

PubMatic

Inc

(e)

923‌

18‌

Red

Violet

Inc

(a),(e)

1,227‌

25‌

Sapiens

International

Corp

NV

3,392‌

91‌

Schrodinger

Inc/United

States

(e)

6,016‌

315‌

SEMrush

Holdings

Inc

(e)

3,457‌

37‌

Sharecare

Inc

(e)

1,860‌

3‌

Simulations

Plus

Inc

1,748‌

87‌

Smartsheet

Inc

(e)

230,682‌

10,242‌

SoundHound

AI

Inc

(a),(e)

15,457‌

36‌

Sprout

Social

Inc

(e)

5,277‌

302‌

SPS

Commerce

Inc

(e)

97,424‌

17,574‌

Take-Two

Interactive

Software

Inc

(e)

48,102‌

7,357‌

Verint

Systems

Inc

(e)

6,484‌

242‌

Veritone

Inc

(a),(e)

3,096‌

14‌

Verra

Mobility

Corp

(e)

15,427‌

324‌

Viant

Technology

Inc

(e)

1,461‌

7‌

Vimeo

Inc

(e)

2,324‌

10‌

Weave

Communications

Inc

(e)

3,621‌

43‌

Workiva

Inc

(e)

131,331‌

13,828‌

Yext

Inc

(e)

11,823‌

115‌

Zeta

Global

Holdings

Corp

(e)

14,827‌

137‌

Zuora

Inc

(e)

374,368‌

4,391‌

$

300,156‌

Telecommunications

-

0

.89

%

A10

Networks

Inc

7,801‌

121‌

Anterix

Inc

(e)

1,841‌

52‌

AST

SpaceMobile

Inc

(e)

6,687‌

29‌

Calix

Inc

(e)

6,515‌

294‌

Cambium

Networks

Corp

(e)

1,434‌

23‌

Clearfield

Inc

(e)

1,442‌

67‌

CommScope

Holding

Co

Inc

(e)

22,898‌

103‌

Consolidated

Communications

Holdings

Inc

(e)

950‌

3‌

Credo

Technology

Group

Holding

Ltd

(e)

412,005‌

6,992‌

DigitalBridge

Group

Inc

212,600‌

3,406‌

Extreme

Networks

Inc

(e)

13,945‌

371‌

Globalstar

Inc

(e)

66,644‌

72‌

Gogo

Inc

(e)

714‌

11‌

Harmonic

Inc

(e)

260,990‌

3,894‌

IDT

Corp

-

Class

B

(e)

1,315‌

31‌

Infinera

Corp

(e)

1,285,118‌

5,783‌

InterDigital

Inc

2,990‌

277‌

Luna

Innovations

Inc

(e)

3,543‌

32‌

Ooma

Inc

(e)

2,630‌

39‌

Preformed

Line

Products

Co

135‌

23‌

Terran

Orbital

Corp

(e)

1,912‌

3‌

Viavi

Solutions

Inc

(e)

20,384‌

222‌

$

21,848‌

Toys,

Games

&

Hobbies

-

0

.00

%

Funko

Inc

(e)

2,829‌

23‌

Transportation

-

1

.49

%

ArcBest

Corp

1,046‌

122‌

CryoPort

Inc

(e)

4,049‌

65‌

Daseke

Inc

(e)

4,469‌

35‌

Dorian

LPG

Ltd

2,083‌

62‌

FLEX

LNG

Ltd

2,215‌

70‌

Forward

Air

Corp

54,112‌

6,431‌

Himalaya

Shipping

Ltd

(a),(e)

564‌

3‌

Knight-Swift

Transportation

Holdings

Inc

83,616‌

5,080‌

Marten

Transport

Ltd

5,127‌

116‌

PAM

Transportation

Services

Inc

(e)

98‌

2‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Transportation

(continued)

RXO

Inc

(e)

100,662‌

$

2,219‌

Saia

Inc

(e)

28,101‌

11,891‌

Werner

Enterprises

Inc

1,017‌

48‌

XPO

Inc

(e)

153,290‌

10,614‌

$

36,758‌

Trucking

&

Leasing

-

0

.00

%

GATX

Corp

243‌

30‌

Water

-

0

.03

%

American

States

Water

Co

4,092‌

362‌

Artesian

Resources

Corp

674‌

31‌

California

Water

Service

Group

1,955‌

103‌

Consolidated

Water

Co

Ltd

513‌

10‌

Global

Water

Resources

Inc

1,397‌

18‌

Middlesex

Water

Co

1,933‌

155‌

York

Water

Co/The

1,571‌

65‌

$

744‌

TOTAL

COMMON

STOCKS

$

2,368,606‌

Total

Investments

$

2,488,740‌

Other

Assets

and

Liabilities

-  (0.93)%

(

23,016‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,465,724‌

(a)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$33,130

or

1.34%

of

net

assets.

(b)

1-day

yield

shown

is

as

of

period

end.

(c)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$33,611

or

1.36%

of

net

assets.

(d)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(e)

Non-income

producing

security

(f)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Portfolio

Summary

Sector

Percent

Consumer,

Non-cyclical

31

.51‌

%

Technology

19

.25‌

%

Industrial

16

.61‌

%

Consumer,

Cyclical

12

.00‌

%

Financial

6

.37‌

%

Energy

5

.20‌

%

Money

Market

Funds

4

.14‌

%

Basic

Materials

2

.49‌

%

Communications

2

.35‌

%

Exchange-Traded

Funds

0

.73‌

%

Utilities

0

.28‌

%

Other

Assets

and

Liabilities

(

0

.93‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SmallCap

Growth

Fund

I

July

31,

2023

(unaudited)

See

accompanying

notes.

225

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

750,843‌

$

658,772‌

$

92,071‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

140,977‌

223,235‌

364,212‌

—‌

$

140,977‌

$

974,078‌

$

1,022,984‌

$

92,071‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

2,313‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

342‌

—‌

—‌

—‌

$

2,655‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Russell

2000

Emini;

September

2023

Long

77‌

$

7,752‌

$

87‌

Total

$

87‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

226

INVESTMENT

COMPANIES

-

2

.57

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.13

%

iShares

Core

S&P

Small-Cap

ETF

14,744‌

$

1,550‌

Money

Market

Funds

-

2

.44

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

2,489,332‌

2,489‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b),(c)

27,319,743‌

27,320‌

$

29,809‌

TOTAL

INVESTMENT

COMPANIES

$

31,359‌

COMMON

STOCKS

-

97

.95

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

1

.06

%

AAR

Corp

(d)

37,886‌

$

2,266‌

AeroVironment

Inc

(d)

29,030‌

2,765‌

Barnes

Group

Inc

58,150‌

2,285‌

Kaman

Corp

32,373‌

741‌

Moog

Inc

33,000‌

3,479‌

National

Presto

Industries

Inc

5,857‌

459‌

Triumph

Group

Inc

(d)

74,697‌

945‌

$

12,940‌

Agriculture

-

0

.50

%

Andersons

Inc/The

36,161‌

1,765‌

Fresh

Del

Monte

Produce

Inc

35,297‌

938‌

Universal

Corp/VA

28,214‌

1,427‌

Vector

Group

Ltd

152,335‌

1,999‌

$

6,129‌

Airlines

-

0

.50

%

Allegiant

Travel

Co

18,000‌

2,227‌

Hawaiian

Holdings

Inc

(d)

59,228‌

686‌

SkyWest

Inc

(d)

51,054‌

2,246‌

Sun

Country

Airlines

Holdings

Inc

(d)

42,005‌

906‌

$

6,065‌

Apparel

-

1

.05

%

Hanesbrands

Inc

401,612‌

2,117‌

Kontoor

Brands

Inc

57,347‌

2,429‌

Oxford

Industries

Inc

17,045‌

1,838‌

Steven

Madden

Ltd

82,094‌

2,740‌

Urban

Outfitters

Inc

(d)

69,148‌

2,515‌

Wolverine

World

Wide

Inc

91,268‌

1,157‌

$

12,796‌

Automobile

Manufacturers

-

0

.11

%

Wabash

National

Corp

54,554‌

1,292‌

Automobile

Parts

&

Equipment

-

1

.26

%

American

Axle

&

Manufacturing

Holdings

Inc

(d)

134,457‌

1,271‌

Dana

Inc

147,592‌

2,801‌

Dorman

Products

Inc

(d)

32,542‌

2,756‌

Gentherm

Inc

(d)

38,064‌

2,275‌

Methode

Electronics

Inc

41,348‌

1,391‌

Phinia

Inc

(d)

53,620‌

1,521‌

Standard

Motor

Products

Inc

21,662‌

827‌

Titan

International

Inc

(d)

58,752‌

734‌

XPEL

Inc

(d)

22,532‌

1,830‌

$

15,406‌

Banks

-

7

.93

%

Ameris

Bancorp

74,928‌

3,271‌

Atlantic

Union

Bankshares

Corp

86,169‌

2,756‌

BancFirst

Corp

20,036‌

2,001‌

Bancorp

Inc/The

(d)

62,839‌

2,382‌

Bank

of

Hawaii

Corp

(e)

45,557‌

2,603‌

BankUnited

Inc

85,494‌

2,551‌

Banner

Corp

39,451‌

1,878‌

Central

Pacific

Financial

Corp

31,029‌

566‌

City

Holding

Co

17,317‌

1,713‌

Community

Bank

System

Inc

61,734‌

3,323‌

Customers

Bancorp

Inc

(d)

33,752‌

1,417‌

CVB

Financial

Corp

150,442‌

2,839‌

Dime

Community

Bancshares

Inc

37,456‌

839‌

Eagle

Bancorp

Inc

35,293‌

978‌

FB

Financial

Corp

40,313‌

1,428‌

First

BanCorp/Puerto

Rico

206,578‌

3,068‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

First

Bancorp/Southern

Pines

NC

47,100‌

$

1,558‌

First

Commonwealth

Financial

Corp

118,222‌

1,707‌

First

Financial

Bancorp

109,333‌

2,524‌

First

Hawaiian

Inc

146,609‌

3,033‌

Fulton

Financial

Corp

190,145‌

2,719‌

Hanmi

Financial

Corp

35,097‌

667‌

Heritage

Financial

Corp/WA

40,286‌

756‌

Hilltop

Holdings

Inc

53,046‌

1,641‌

Hope

Bancorp

Inc

137,792‌

1,496‌

Independent

Bank

Corp

50,700‌

3,055‌

Independent

Bank

Group

Inc

40,791‌

1,830‌

Lakeland

Financial

Corp

29,221‌

1,620‌

National

Bank

Holdings

Corp

43,329‌

1,489‌

NBT

Bancorp

Inc

49,296‌

1,834‌

OFG

Bancorp

54,610‌

1,829‌

PacWest

Bancorp

135,625‌

1,261‌

Park

National

Corp

16,545‌

1,845‌

Pathward

Financial

Inc

30,922‌

1,607‌

Preferred

Bank/Los

Angeles

CA

15,179‌

1,003‌

Renasant

Corp

64,451‌

1,994‌

S&T

Bancorp

Inc

44,773‌

1,414‌

Seacoast

Banking

Corp

of

Florida

96,244‌

2,378‌

ServisFirst

Bancshares

Inc

56,134‌

3,350‌

Simmons

First

National

Corp

146,299‌

2,954‌

Southside

Bancshares

Inc

33,756‌

1,121‌

Stellar

Bancorp

Inc

52,057‌

1,294‌

Tompkins

Financial

Corp

14,514‌

873‌

Triumph

Financial

Inc

25,244‌

1,790‌

TrustCo

Bank

Corp

NY

21,858‌

664‌

Trustmark

Corp

70,168‌

1,843‌

United

Community

Banks

Inc/GA

132,314‌

3,846‌

Veritex

Holdings

Inc

62,331‌

1,341‌

Walker

&

Dunlop

Inc

35,628‌

3,241‌

Westamerica

BanCorp

30,618‌

1,506‌

$

96,696‌

Beverages

-

0

.28

%

MGP

Ingredients

Inc

17,704‌

2,019‌

National

Beverage

Corp

(d)

26,815‌

1,417‌

$

3,436‌

Biotechnology

-

2

.05

%

ANI

Pharmaceuticals

Inc

(d)

15,997‌

841‌

Arcus

Biosciences

Inc

(d)

60,479‌

1,203‌

Avid

Bioservices

Inc

(d)

71,867‌

910‌

Certara

Inc

(d)

121,208‌

2,360‌

Cytek

Biosciences

Inc

(d)

91,969‌

824‌

Cytokinetics

Inc

(d)

109,891‌

3,665‌

Dynavax

Technologies

Corp

(d)

137,300‌

1,921‌

Emergent

BioSolutions

Inc

(d)

51,588‌

355‌

Innoviva

Inc

(d)

67,738‌

918‌

iTeos

Therapeutics

Inc

(d)

28,353‌

399‌

Ligand

Pharmaceuticals

Inc

(d)

18,857‌

1,262‌

Myriad

Genetics

Inc

(d)

93,706‌

2,094‌

NeoGenomics

Inc

(d)

146,588‌

2,540‌

OmniAb

Operations

Inc

(d)

7,689‌

—‌

OmniAb

Operations

Inc

(d)

7,689‌

—‌

REGENXBIO

Inc

(d)

43,450‌

826‌

Vericel

Corp

(d)

54,652‌

1,963‌

Vir

Biotechnology

Inc

(d)

87,745‌

1,235‌

Xencor

Inc

(d)

69,389‌

1,685‌

$

25,001‌

Building

Materials

-

2

.08

%

AAON

Inc

49,247‌

5,184‌

American

Woodmark

Corp

(d)

19,116‌

1,465‌

Apogee

Enterprises

Inc

25,605‌

1,268‌

Boise

Cascade

Co

45,490‌

4,708‌

Gibraltar

Industries

Inc

(d)

34,943‌

2,260‌

Griffon

Corp

54,554‌

2,276‌

Masterbrand

Inc

(d)

147,659‌

1,823‌

PGT

Innovations

Inc

(d)

67,471‌

1,930‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

227

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Building

Materials

(continued)

SPX

Technologies

Inc

(d)

52,284‌

$

4,424‌

$

25,338‌

Chemicals

-

3

.04

%

AdvanSix

Inc

31,672‌

1,270‌

American

Vanguard

Corp

31,769‌

574‌

Balchem

Corp

37,031‌

4,990‌

Hawkins

Inc

21,769‌

1,018‌

HB

Fuller

Co

61,851‌

4,579‌

Ingevity

Corp

(d)

39,238‌

2,512‌

Innospec

Inc

28,575‌

3,061‌

Koppers

Holdings

Inc

23,931‌

916‌

Livent

Corp

(d)

206,462‌

5,083‌

Mativ

Holdings

Inc

63,013‌

992‌

Minerals

Technologies

Inc

37,392‌

2,294‌

Quaker

Chemical

Corp

15,704‌

3,147‌

Rogers

Corp

(d)

21,383‌

3,605‌

Stepan

Co

24,388‌

2,337‌

Trinseo

PLC

40,383‌

711‌

$

37,089‌

Coal

-

0

.51

%

CONSOL

Energy

Inc

36,637‌

2,730‌

SunCoke

Energy

Inc

96,194‌

854‌

Warrior

Met

Coal

Inc

59,735‌

2,644‌

$

6,228‌

Commercial

Services

-

4

.46

%

Aaron's

Co

Inc/The

35,514‌

562‌

ABM

Industries

Inc

75,955‌

3,515‌

Adtalem

Global

Education

Inc

(d)

50,107‌

2,167‌

Alarm.com

Holdings

Inc

(d)

57,264‌

3,162‌

AMN

Healthcare

Services

Inc

(d)

45,554‌

4,881‌

Arlo

Technologies

Inc

(d)

105,526‌

1,199‌

CoreCivic

Inc

(d)

130,592‌

1,267‌

CorVel

Corp

(d)

10,450‌

2,138‌

Cross

Country

Healthcare

Inc

(d)

39,223‌

1,012‌

Deluxe

Corp

49,937‌

948‌

EVERTEC

Inc

74,775‌

2,941‌

Forrester

Research

Inc

(d)

13,015‌

415‌

GEO

Group

Inc/The

(d)

144,802‌

1,082‌

Green

Dot

Corp

(d)

53,216‌

1,040‌

Healthcare

Services

Group

Inc

85,250‌

1,075‌

Heidrick

&

Struggles

International

Inc

23,011‌

627‌

John

Wiley

&

Sons

Inc

49,070‌

1,680‌

Kelly

Services

Inc

37,636‌

689‌

Korn

Ferry

60,217‌

3,172‌

LiveRamp

Holdings

Inc

(d)

74,363‌

2,122‌

Matthews

International

Corp

34,996‌

1,606‌

Medifast

Inc

12,511‌

1,275‌

Mister

Car

Wash

Inc

(d)

92,167‌

915‌

Monro

Inc

36,074‌

1,322‌

Payoneer

Global

Inc

(d)

235,588‌

1,253‌

Perdoceo

Education

Corp

77,532‌

1,035‌

PROG

Holdings

Inc

(d)

53,709‌

2,180‌

Resources

Connection

Inc

36,708‌

587‌

Sabre

Corp

(d)

381,532‌

1,564‌

Strategic

Education

Inc

25,714‌

1,931‌

Stride

Inc

(d)

46,978‌

1,795‌

TrueBlue

Inc

(d)

35,645‌

533‌

Upbound

Group

Inc

57,840‌

2,003‌

Viad

Corp

(d)

23,937‌

675‌

$

54,368‌

Computers

-

0

.86

%

3D

Systems

Corp

(d)

150,697‌

1,312‌

Corsair

Gaming

Inc

(d)

46,906‌

867‌

Insight

Enterprises

Inc

(d)

33,252‌

4,878‌

NetScout

Systems

Inc

(d)

77,458‌

2,165‌

OneSpan

Inc

(d)

40,853‌

561‌

TTEC

Holdings

Inc

21,717‌

748‌

$

10,531‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Consumer

Products

-

0

.57

%

Central

Garden

&

Pet

Co

(d)

11,088‌

$

449‌

Central

Garden

&

Pet

Co

-

A

Shares

(d)

47,422‌

1,812‌

Quanex

Building

Products

Corp

38,191‌

1,075‌

WD-40

Co

15,597‌

3,580‌

$

6,916‌

Cosmetics

&

Personal

Care

-

1

.00

%

Edgewell

Personal

Care

Co

58,798‌

2,317‌

elf

Beauty

Inc

(d)

58,176‌

6,791‌

Inter

Parfums

Inc

20,600‌

3,081‌

$

12,189‌

Distribution

&

Wholesale

-

0

.75

%

G-III

Apparel

Group

Ltd

(d)

47,146‌

976‌

OPENLANE

Inc

(d)

125,482‌

1,970‌

Resideo

Technologies

Inc

(d)

169,035‌

3,164‌

ScanSource

Inc

(d)

28,610‌

861‌

Veritiv

Corp

15,568‌

2,182‌

$

9,153‌

Diversified

Financial

Services

-

2

.98

%

Artisan

Partners

Asset

Management

Inc

78,653‌

3,263‌

Avantax

Inc

(d)

44,337‌

1,147‌

B

Riley

Financial

Inc

(e)

18,103‌

1,005‌

Bread

Financial

Holdings

Inc

57,588‌

2,394‌

Brightsphere

Investment

Group

Inc

37,161‌

791‌

Encore

Capital

Group

Inc

(d)

26,980‌

1,443‌

Enova

International

Inc

(d)

35,865‌

1,976‌

EZCORP

Inc

(d)

60,263‌

546‌

Moelis

&

Co

76,482‌

3,735‌

Mr

Cooper

Group

Inc

(d)

78,192‌

4,533‌

Navient

Corp

113,339‌

2,158‌

Piper

Sandler

Cos

16,955‌

2,482‌

PRA

Group

Inc

(d)

45,007‌

1,074‌

Radian

Group

Inc

179,650‌

4,838‌

StoneX

Group

Inc

(d)

20,261‌

1,864‌

Virtus

Investment

Partners

Inc

7,872‌

1,620‌

WisdomTree

Inc

130,343‌

907‌

World

Acceptance

Corp

(d)

3,845‌

607‌

$

36,383‌

Electric

-

0

.67

%

Avista

Corp

87,053‌

3,364‌

Otter

Tail

Corp

47,928‌

3,882‌

Unitil

Corp

18,484‌

962‌

$

8,208‌

Electrical

Components

&

Equipment

-

0

.40

%

Encore

Wire

Corp

20,644‌

3,524‌

Insteel

Industries

Inc

22,337‌

720‌

Powell

Industries

Inc

10,494‌

638‌

$

4,882‌

Electronics

-

3

.05

%

Advanced

Energy

Industries

Inc

43,129‌

5,399‌

Badger

Meter

Inc

33,685‌

5,546‌

Benchmark

Electronics

Inc

40,931‌

1,085‌

Brady

Corp

52,992‌

2,733‌

CTS

Corp

36,239‌

1,617‌

ESCO

Technologies

Inc

29,598‌

2,976‌

Itron

Inc

(d)

52,193‌

4,106‌

Knowles

Corp

(d)

104,994‌

1,918‌

Mesa

Laboratories

Inc

5,776‌

743‌

OSI

Systems

Inc

(d)

17,876‌

2,132‌

Plexus

Corp

(d)

31,767‌

3,129‌

Sanmina

Corp

(d)

67,055‌

4,121‌

TTM

Technologies

Inc

(d)

117,871‌

1,693‌

$

37,198‌

Energy

-

Alternate

Sources

-

0

.36

%

FutureFuel

Corp

29,667‌

289‌

Green

Plains

Inc

(d)

68,380‌

2,428‌

REX

American

Resources

Corp

(d)

17,583‌

651‌

SunPower

Corp

(d),(e)

98,504‌

972‌

$

4,340‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

228

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Engineering

&

Construction

-

2

.01

%

Arcosa

Inc

55,656‌

$

4,295‌

Comfort

Systems

USA

Inc

41,099‌

7,150‌

Dycom

Industries

Inc

(d)

33,731‌

3,359‌

Frontdoor

Inc

(d)

93,903‌

3,279‌

Granite

Construction

Inc

50,419‌

2,064‌

MYR

Group

Inc

(d)

19,199‌

2,737‌

NV5

Global

Inc

(d)

14,441‌

1,582‌

$

24,466‌

Entertainment

-

0

.87

%

Cinemark

Holdings

Inc

(d)

124,328‌

2,075‌

Golden

Entertainment

Inc

(d)

25,512‌

1,080‌

Madison

Square

Garden

Sports

Corp

20,394‌

4,339‌

Monarch

Casino

&

Resort

Inc

15,392‌

1,067‌

Six

Flags

Entertainment

Corp

(d)

85,167‌

2,036‌

$

10,597‌

Environmental

Control

-

0

.07

%

Enviri

Corp

(d)

91,619‌

864‌

Food

-

1

.97

%

B&G

Foods

Inc

(e)

82,971‌

1,100‌

Calavo

Growers

Inc

20,386‌

769‌

Cal-Maine

Foods

Inc

43,662‌

2,017‌

Chefs'

Warehouse

Inc/The

(d)

40,435‌

1,469‌

Hain

Celestial

Group

Inc/The

(d)

102,771‌

1,302‌

Hostess

Brands

Inc

(d)

152,645‌

3,670‌

J

&

J

Snack

Foods

Corp

17,256‌

2,766‌

John

B

Sanfilippo

&

Son

Inc

10,294‌

1,121‌

Simply

Good

Foods

Co/The

(d)

97,189‌

3,762‌

SpartanNash

Co

40,352‌

906‌

Tootsie

Roll

Industries

Inc

20,662‌

720‌

TreeHouse

Foods

Inc

(d)

58,235‌

3,006‌

United

Natural

Foods

Inc

(d)

68,249‌

1,420‌

$

24,028‌

Forest

Products

&

Paper

-

0

.18

%

Mercer

International

Inc

46,561‌

414‌

Sylvamo

Corp

36,679‌

1,800‌

$

2,214‌

Gas

-

0

.34

%

Chesapeake

Utilities

Corp

20,442‌

2,417‌

Northwest

Natural

Holding

Co

41,325‌

1,776‌

$

4,193‌

Hand

&

Machine

Tools

-

0

.74

%

Enerpac

Tool

Group

Corp

65,700‌

1,806‌

Franklin

Electric

Co

Inc

44,585‌

4,406‌

Kennametal

Inc

92,236‌

2,811‌

$

9,023‌

Healthcare

-

Products

-

2

.64

%

AngioDynamics

Inc

(d)

45,083‌

392‌

Artivion

Inc

(d)

46,965‌

818‌

Avanos

Medical

Inc

(d)

53,621‌

1,312‌

BioLife

Solutions

Inc

(d)

39,945‌

794‌

CONMED

Corp

35,132‌

4,253‌

Embecta

Corp

65,831‌

1,405‌

Glaukos

Corp

(d)

55,394‌

4,273‌

Integer

Holdings

Corp

(d)

38,235‌

3,536‌

LeMaitre

Vascular

Inc

22,405‌

1,417‌

Merit

Medical

Systems

Inc

(d)

66,063‌

4,933‌

NuVasive

Inc

(d)

60,264‌

2,484‌

OraSure

Technologies

Inc

(d)

84,178‌

397‌

Orthofix

Medical

Inc

(d)

39,890‌

785‌

Tandem

Diabetes

Care

Inc

(d)

74,251‌

2,593‌

UFP

Technologies

Inc

(d)

7,961‌

1,550‌

Varex

Imaging

Corp

(d)

46,420‌

1,081‌

Zynex

Inc

(d),(e)

24,427‌

238‌

$

32,261‌

Healthcare

-

Services

-

1

.95

%

Addus

HomeCare

Corp

(d)

18,620‌

1,705‌

Agiliti

Inc

(d)

38,623‌

663‌

Community

Health

Systems

Inc

(d)

146,118‌

641‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Services

(continued)

Enhabit

Inc

(d)

57,565‌

$

790‌

Ensign

Group

Inc/The

64,329‌

6,232‌

Fortrea

Holdings

Inc

(d)

101,351‌

3,239‌

Fulgent

Genetics

Inc

(d)

22,865‌

888‌

ModivCare

Inc

(d)

14,650‌

641‌

Pediatrix

Medical

Group

Inc

(d)

94,866‌

1,303‌

RadNet

Inc

(d)

65,878‌

2,179‌

Select

Medical

Holdings

Corp

119,777‌

3,595‌

US

Physical

Therapy

Inc

16,926‌

1,968‌

$

23,844‌

Home

Builders

-

3

.05

%

Cavco

Industries

Inc

(d)

9,291‌

2,747‌

Century

Communities

Inc

32,753‌

2,529‌

Green

Brick

Partners

Inc

(d)

30,852‌

1,744‌

Installed

Building

Products

Inc

26,764‌

3,962‌

LCI

Industries

29,070‌

3,961‌

LGI

Homes

Inc

(d)

23,796‌

3,302‌

M/I

Homes

Inc

(d)

31,977‌

3,198‌

MDC

Holdings

Inc

67,210‌

3,446‌

Meritage

Homes

Corp

42,246‌

6,292‌

Tri

Pointe

Homes

Inc

(d)

115,013‌

3,667‌

Winnebago

Industries

Inc

35,110‌

2,415‌

$

37,263‌

Home

Furnishings

-

0

.63

%

Ethan

Allen

Interiors

Inc

26,221‌

825‌

iRobot

Corp

(d)

31,287‌

1,251‌

MillerKnoll

Inc

86,898‌

1,701‌

Sleep

Number

Corp

(d)

25,491‌

706‌

Sonos

Inc

(d)

147,442‌

2,527‌

Xperi

Inc

(d)

48,853‌

641‌

$

7,651‌

Insurance

-

2

.40

%

Ambac

Financial

Group

Inc

(d)

52,075‌

736‌

American

Equity

Investment

Life

Holding

Co

72,539‌

3,893‌

AMERISAFE

Inc

22,007‌

1,147‌

Assured

Guaranty

Ltd

68,140‌

4,074‌

Employers

Holdings

Inc

30,881‌

1,193‌

Genworth

Financial

Inc

(d)

549,173‌

3,218‌

HCI

Group

Inc

7,805‌

490‌

Horace

Mann

Educators

Corp

46,930‌

1,414‌

James

River

Group

Holdings

Ltd

43,224‌

799‌

Mercury

General

Corp

30,538‌

983‌

NMI

Holdings

Inc

(d)

95,689‌

2,556‌

Palomar

Holdings

Inc

(d)

28,563‌

1,730‌

ProAssurance

Corp

62,078‌

1,043‌

Safety

Insurance

Group

Inc

17,083‌

1,230‌

SiriusPoint

Ltd

(d)

98,544‌

920‌

Stewart

Information

Services

Corp

31,305‌

1,475‌

Trupanion

Inc

(d)

40,736‌

1,257‌

United

Fire

Group

Inc

24,938‌

600‌

Universal

Insurance

Holdings

Inc

31,477‌

489‌

$

29,247‌

Internet

-

1

.54

%

Cargurus

Inc

(d)

102,657‌

2,326‌

Cars.com

Inc

(d)

71,297‌

1,626‌

Cogent

Communications

Holdings

Inc

49,402‌

3,025‌

ePlus

Inc

(d)

30,917‌

1,742‌

HealthStream

Inc

27,850‌

626‌

Liquidity

Services

Inc

(d)

26,790‌

450‌

Perficient

Inc

(d)

40,031‌

2,554‌

QuinStreet

Inc

(d)

58,450‌

519‌

Shutterstock

Inc

27,752‌

1,428‌

TechTarget

Inc

(d)

29,674‌

964‌

Yelp

Inc

(d)

79,095‌

3,563‌

$

18,823‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

229

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Iron

&

Steel

-

0

.91

%

ATI

Inc

(d)

147,703‌

$

7,042‌

Carpenter

Technology

Corp

55,784‌

3,339‌

Haynes

International

Inc

14,628‌

734‌

$

11,115‌

Leisure

Products

&

Services

-

0

.16

%

Vista

Outdoor

Inc

(d)

65,591‌

1,987‌

Lodging

-

0

.04

%

Marcus

Corp/The

28,260‌

441‌

Machinery

-

Construction

&

Mining

-

0

.11

%

Astec

Industries

Inc

26,101‌

1,289‌

Machinery

-

Diversified

-

1

.54

%

Alamo

Group

Inc

11,861‌

2,298‌

Albany

International

Corp

35,813‌

3,448‌

Applied

Industrial

Technologies

Inc

44,415‌

6,440‌

CIRCOR

International

Inc

(d)

23,428‌

1,305‌

DXP

Enterprises

Inc/TX

(d)

16,755‌

636‌

Ichor

Holdings

Ltd

(d)

33,385‌

1,293‌

Lindsay

Corp

12,650‌

1,676‌

Tennant

Co

21,270‌

1,707‌

$

18,803‌

Media

-

0

.47

%

AMC

Networks

Inc

(d)

32,744‌

413‌

DISH

Network

Corp

(d)

290,683‌

2,305‌

EW

Scripps

Co/The

(d)

67,361‌

664‌

Scholastic

Corp

33,544‌

1,449‌

Thryv

Holdings

Inc

(d)

35,610‌

844‌

$

5,675‌

Metal

Fabrication

&

Hardware

-

0

.92

%

AZZ

Inc

28,624‌

1,269‌

Mueller

Industries

Inc

65,489‌

5,309‌

Olympic

Steel

Inc

11,001‌

614‌

Proto

Labs

Inc

(d)

30,107‌

998‌

Standex

International

Corp

13,678‌

2,032‌

TimkenSteel

Corp

(d)

44,868‌

1,045‌

$

11,267‌

Mining

-

0

.57

%

Arconic

Corp

(d)

115,184‌

3,443‌

Century

Aluminum

Co

(d)

59,405‌

552‌

Compass

Minerals

International

Inc

39,232‌

1,486‌

Kaiser

Aluminum

Corp

18,360‌

1,491‌

$

6,972‌

Miscellaneous

Manufacturers

-

2

.34

%

EnPro

Industries

Inc

23,991‌

3,330‌

Fabrinet

(d)

41,707‌

5,157‌

Federal

Signal

Corp

69,961‌

4,274‌

Hillenbrand

Inc

79,938‌

4,152‌

John

Bean

Technologies

Corp

36,562‌

4,519‌

Materion

Corp

23,681‌

2,821‌

Myers

Industries

Inc

42,216‌

828‌

Sturm

Ruger

&

Co

Inc

20,346‌

1,077‌

Trinity

Industries

Inc

93,241‌

2,445‌

$

28,603‌

Office

&

Business

Equipment

-

0

.06

%

Pitney

Bowes

Inc

187,669‌

739‌

Office

Furnishings

-

0

.18

%

HNI

Corp

53,330‌

1,552‌

Interface

Inc

66,657‌

651‌

$

2,203‌

Oil

&

Gas

-

3

.07

%

California

Resources

Corp

81,059‌

4,324‌

Callon

Petroleum

Co

(d)

59,003‌

2,216‌

Civitas

Resources

Inc

56,379‌

4,220‌

Comstock

Resources

Inc

105,224‌

1,342‌

CVR

Energy

Inc

33,497‌

1,231‌

Helmerich

&

Payne

Inc

117,870‌

5,277‌

Nabors

Industries

Ltd

(d)

10,414‌

1,276‌

Northern

Oil

and

Gas

Inc

93,036‌

3,663‌

Par

Pacific

Holdings

Inc

(d)

64,522‌

2,031‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Oil

&

Gas

(continued)

Patterson-UTI

Energy

Inc

239,277‌

$

3,790‌

SM

Energy

Co

138,476‌

5,025‌

Talos

Energy

Inc

(d)

124,064‌

1,985‌

Vital

Energy

Inc

(d)

21,366‌

1,128‌

$

37,508‌

Oil

&

Gas

Services

-

1

.34

%

Archrock

Inc

154,837‌

1,805‌

Bristow

Group

Inc

(d)

27,032‌

832‌

Core

Laboratories

Inc

53,617‌

1,393‌

Dril-Quip

Inc

(d)

39,265‌

1,017‌

Helix

Energy

Solutions

Group

Inc

(d)

163,631‌

1,571‌

NexTier

Oilfield

Solutions

Inc

(d)

172,146‌

2,052‌

NOW

Inc

(d)

122,912‌

1,400‌

Oceaneering

International

Inc

(d)

115,785‌

2,599‌

Oil

States

International

Inc

(d)

73,830‌

594‌

ProPetro

Holding

Corp

(d)

111,217‌

1,161‌

RPC

Inc

95,347‌

793‌

US

Silica

Holdings

Inc

(d)

88,547‌

1,152‌

$

16,369‌

Packaging

&

Containers

-

0

.39

%

Clearwater

Paper

Corp

(d)

19,436‌

627‌

O-I

Glass

Inc

(d)

178,411‌

4,096‌

$

4,723‌

Pharmaceuticals

-

2

.00

%

AdaptHealth

Corp

(d)

87,873‌

1,207‌

Amphastar

Pharmaceuticals

Inc

(d)

43,265‌

2,626‌

Anika

Therapeutics

Inc

(d)

16,956‌

396‌

Catalyst

Pharmaceuticals

Inc

(d)

112,026‌

1,549‌

Coherus

Biosciences

Inc

(d)

76,822‌

370‌

Collegium

Pharmaceutical

Inc

(d)

39,749‌

905‌

Corcept

Therapeutics

Inc

(d)

103,874‌

2,647‌

Enanta

Pharmaceuticals

Inc

(d)

22,741‌

431‌

Harmony

Biosciences

Holdings

Inc

(d)

34,443‌

1,218‌

Ironwood

Pharmaceuticals

Inc

(d)

155,289‌

1,722‌

Owens

&

Minor

Inc

(d)

87,560‌

1,685‌

Pacira

BioSciences

Inc

(d)

52,842‌

1,921‌

Phibro

Animal

Health

Corp

23,368‌

338‌

Prestige

Consumer

Healthcare

Inc

(d)

57,097‌

3,723‌

Supernus

Pharmaceuticals

Inc

(d)

62,593‌

1,921‌

uniQure

NV

(d)

48,113‌

499‌

USANA

Health

Sciences

Inc

(d)

12,861‌

835‌

Vanda

Pharmaceuticals

Inc

(d)

66,003‌

382‌

$

24,375‌

Real

Estate

-

0

.92

%

Anywhere

Real

Estate

Inc

(d)

126,816‌

1,063‌

Cushman

&

Wakefield

PLC

(d)

187,844‌

1,846‌

eXp

World

Holdings

Inc

(e)

84,626‌

2,111‌

Kennedy-Wilson

Holdings

Inc

136,137‌

2,246‌

Marcus

&

Millichap

Inc

27,851‌

1,022‌

RE/MAX

Holdings

Inc

20,824‌

410‌

St

Joe

Co/The

38,900‌

2,469‌

$

11,167‌

REITs

-

8

.12

%

Acadia

Realty

Trust

109,398‌

1,719‌

Alexander

&

Baldwin

Inc

83,411‌

1,601‌

American

Assets

Trust

Inc

59,996‌

1,350‌

Apollo

Commercial

Real

Estate

Finance

Inc

149,411‌

1,763‌

Arbor

Realty

Trust

Inc

207,692‌

3,512‌

Armada

Hoffler

Properties

Inc

78,063‌

970‌

ARMOUR

Residential

REIT

Inc

224,644‌

1,148‌

Brandywine

Realty

Trust

197,531‌

998‌

CareTrust

REIT

Inc

114,297‌

2,376‌

Centerspace

17,189‌

1,068‌

Chatham

Lodging

Trust

56,136‌

539‌

Community

Healthcare

Trust

Inc

28,106‌

990‌

DiamondRock

Hospitality

Co

241,049‌

2,049‌

Douglas

Emmett

Inc

195,110‌

2,868‌

Easterly

Government

Properties

Inc

107,306‌

1,584‌

Ellington

Financial

Inc

73,311‌

991‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

230

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

Elme

Communities

100,793‌

$

1,638‌

Essential

Properties

Realty

Trust

Inc

171,014‌

4,198‌

Four

Corners

Property

Trust

Inc

99,992‌

2,630‌

Franklin

BSP

Realty

Trust

Inc

94,541‌

1,352‌

Getty

Realty

Corp

51,748‌

1,672‌

Global

Net

Lease

Inc

119,320‌

1,276‌

Hudson

Pacific

Properties

Inc

147,322‌

865‌

Innovative

Industrial

Properties

Inc

32,214‌

2,552‌

Invesco

Mortgage

Capital

Inc

47,851‌

575‌

JBG

SMITH

Properties

111,403‌

1,864‌

KKR

Real

Estate

Finance

Trust

Inc

66,688‌

831‌

LTC

Properties

Inc

47,563‌

1,596‌

LXP

Industrial

Trust

336,176‌

3,385‌

Macerich

Co/The

247,143‌

3,151‌

New

York

Mortgage

Trust

Inc

104,766‌

1,063‌

NexPoint

Residential

Trust

Inc

26,494‌

1,101‌

Office

Properties

Income

Trust

55,800‌

430‌

Orion

Office

REIT

Inc

65,107‌

423‌

Outfront

Media

Inc

168,718‌

2,608‌

Pebblebrook

Hotel

Trust

141,458‌

2,185‌

PennyMac

Mortgage

Investment

Trust

100,602‌

1,286‌

Phillips

Edison

&

Co

Inc

134,775‌

4,759‌

Ready

Capital

Corp

185,428‌

2,145‌

Redwood

Trust

Inc

131,020‌

987‌

Retail

Opportunity

Investments

Corp

144,803‌

2,133‌

RPT

Realty

99,602‌

1,083‌

Safehold

Inc

46,285‌

1,145‌

Saul

Centers

Inc

14,844‌

572‌

Service

Properties

Trust

190,098‌

1,614‌

SITE

Centers

Corp

209,181‌

2,939‌

SL

Green

Realty

Corp

73,968‌

2,789‌

Summit

Hotel

Properties

Inc

123,482‌

795‌

Sunstone

Hotel

Investors

Inc

237,961‌

2,425‌

Tanger

Factory

Outlet

Centers

Inc

120,853‌

2,829‌

Two

Harbors

Investment

Corp

111,068‌

1,489‌

Uniti

Group

Inc

274,122‌

1,530‌

Universal

Health

Realty

Income

Trust

14,591‌

696‌

Urban

Edge

Properties

135,084‌

2,298‌

Urstadt

Biddle

Properties

Inc

33,286‌

755‌

Veris

Residential

Inc

91,648‌

1,712‌

Whitestone

REIT

53,381‌

551‌

Xenia

Hotels

&

Resorts

Inc

125,799‌

1,598‌

$

99,051‌

Retail

-

6

.32

%

Abercrombie

&

Fitch

Co

(d)

57,513‌

2,278‌

Academy

Sports

&

Outdoors

Inc

88,579‌

5,296‌

American

Eagle

Outfitters

Inc

210,875‌

2,963‌

America's

Car-Mart

Inc/TX

(d)

6,662‌

794‌

Asbury

Automotive

Group

Inc

(d)

24,744‌

5,582‌

BJ's

Restaurants

Inc

(d)

27,049‌

1,019‌

Bloomin'

Brands

Inc

100,301‌

2,695‌

Boot

Barn

Holdings

Inc

(d)

34,260‌

3,217‌

Brinker

International

Inc

(d)

50,897‌

1,999‌

Buckle

Inc/The

34,205‌

1,251‌

Caleres

Inc

41,706‌

1,128‌

Cheesecake

Factory

Inc/The

54,872‌

2,018‌

Chico's

FAS

Inc

(d)

141,831‌

865‌

Chuy's

Holdings

Inc

(d)

20,820‌

866‌

Cracker

Barrel

Old

Country

Store

Inc

25,453‌

2,372‌

Dave

&

Buster's

Entertainment

Inc

(d)

46,013‌

2,107‌

Designer

Brands

Inc

59,596‌

593‌

Dine

Brands

Global

Inc

17,998‌

1,086‌

GMS

Inc

(d)

47,461‌

3,497‌

Group

1

Automotive

Inc

16,250‌

4,201‌

Guess?

Inc

34,394‌

722‌

Haverty

Furniture

Cos

Inc

15,319‌

545‌

Hibbett

Inc

14,646‌

680‌

Jack

in

the

Box

Inc

23,671‌

2,353‌

La-Z-Boy

Inc

49,568‌

1,555‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Leslie's

Inc

(d)

171,101‌

$

1,090‌

MarineMax

Inc

(d)

25,112‌

1,013‌

Movado

Group

Inc

17,943‌

515‌

National

Vision

Holdings

Inc

(d)

89,722‌

1,941‌

Nu

Skin

Enterprises

Inc

57,341‌

1,685‌

ODP

Corp/The

(d)

39,025‌

1,947‌

Patrick

Industries

Inc

24,367‌

2,109‌

PC

Connection

Inc

12,983‌

628‌

PriceSmart

Inc

28,854‌

2,243‌

Sally

Beauty

Holdings

Inc

(d)

123,581‌

1,479‌

Shake

Shack

Inc

(d)

43,015‌

3,341‌

Shoe

Carnival

Inc

19,473‌

518‌

Signet

Jewelers

Ltd

51,848‌

4,173‌

Sonic

Automotive

Inc

18,275‌

875‌

Victoria's

Secret

&

Co

(d)

89,992‌

1,844‌

$

77,083‌

Savings

&

Loans

-

1

.57

%

Axos

Financial

Inc

(d)

60,449‌

2,841‌

Banc

of

California

Inc

(e)

61,544‌

875‌

Berkshire

Hills

Bancorp

Inc

50,875‌

1,160‌

Brookline

Bancorp

Inc

100,857‌

1,077‌

Capitol

Federal

Financial

Inc

145,496‌

965‌

Northfield

Bancorp

Inc

47,047‌

573‌

Northwest

Bancshares

Inc

145,995‌

1,805‌

Pacific

Premier

Bancorp

Inc

110,075‌

2,811‌

Provident

Financial

Services

Inc

86,721‌

1,608‌

Washington

Federal

Inc

75,595‌

2,346‌

WSFS

Financial

Corp

70,604‌

3,089‌

$

19,150‌

Semiconductors

-

4

.28

%

Alpha

&

Omega

Semiconductor

Ltd

(d)

25,584‌

841‌

Axcelis

Technologies

Inc

(d)

37,586‌

7,535‌

CEVA

Inc

(d)

26,904‌

731‌

Cohu

Inc

(d)

54,616‌

2,384‌

Diodes

Inc

(d)

52,534‌

4,964‌

FormFactor

Inc

(d)

88,638‌

3,294‌

Kulicke

&

Soffa

Industries

Inc

65,015‌

3,893‌

MaxLinear

Inc

(d)

84,546‌

2,086‌

Onto

Innovation

Inc

(d)

56,240‌

6,992‌

Photronics

Inc

(d)

71,784‌

1,899‌

Rambus

Inc

(d)

125,063‌

7,830‌

Semtech

Corp

(d)

73,488‌

2,146‌

SiTime

Corp

(d)

18,917‌

2,440‌

SMART

Global

Holdings

Inc

(d)

56,384‌

1,500‌

Ultra

Clean

Holdings

Inc

(d)

51,357‌

1,957‌

Veeco

Instruments

Inc

(d)

59,395‌

1,672‌

$

52,164‌

Software

-

3

.80

%

8x8

Inc

(d)

129,892‌

616‌

Adeia

Inc

122,180‌

1,469‌

Agilysys

Inc

(d)

22,883‌

1,685‌

Apollo

Medical

Holdings

Inc

(d)

46,285‌

1,695‌

Avid

Technology

Inc

(d)

38,342‌

914‌

Cerence

Inc

(d)

46,315‌

1,288‌

Computer

Programs

and

Systems

Inc

(d)

16,310‌

428‌

Consensus

Cloud

Solutions

Inc

(d)

20,104‌

652‌

CSG

Systems

International

Inc

34,921‌

1,802‌

Digi

International

Inc

(d)

41,215‌

1,728‌

Digital

Turbine

Inc

(d)

103,720‌

1,124‌

Donnelley

Financial

Solutions

Inc

(d)

29,079‌

1,375‌

DoubleVerify

Holdings

Inc

(d)

101,265‌

4,263‌

Ebix

Inc

26,984‌

835‌

N-able

Inc

(d)

77,390‌

1,089‌

NextGen

Healthcare

Inc

(d)

61,446‌

1,022‌

PDF

Solutions

Inc

(d)

34,358‌

1,580‌

Privia

Health

Group

Inc

(d)

107,646‌

3,005‌

Progress

Software

Corp

49,760‌

2,989‌

Schrodinger

Inc/United

States

(d)

61,624‌

3,224‌

Simulations

Plus

Inc

18,151‌

904‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

231

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

SPS

Commerce

Inc

(d)

41,978‌

$

7,572‌

Veradigm

Inc

(d)

125,540‌

1,697‌

Verra

Mobility

Corp

(d)

160,705‌

3,373‌

$

46,329‌

Telecommunications

-

1

.89

%

A10

Networks

Inc

73,941‌

1,148‌

ADTRAN

Holdings

Inc

82,241‌

800‌

ATN

International

Inc

12,297‌

447‌

Clearfield

Inc

(d)

14,547‌

680‌

Consolidated

Communications

Holdings

Inc

(d)

85,779‌

307‌

Extreme

Networks

Inc

(d)

148,219‌

3,941‌

Gogo

Inc

(d)

75,349‌

1,136‌

Harmonic

Inc

(d)

127,947‌

1,909‌

InterDigital

Inc

30,728‌

2,848‌

Lumen

Technologies

Inc

1,061,658‌

1,900‌

NETGEAR

Inc

(d)

33,385‌

455‌

Shenandoah

Telecommunications

Co

57,734‌

1,078‌

Telephone

and

Data

Systems

Inc

113,548‌

911‌

Viasat

Inc

(d)

87,753‌

2,715‌

Viavi

Solutions

Inc

(d)

255,594‌

2,778‌

$

23,053‌

Textiles

-

0

.23

%

UniFirst

Corp/MA

17,356‌

2,817‌

Transportation

-

1

.81

%

ArcBest

Corp

27,524‌

3,202‌

Dorian

LPG

Ltd

36,627‌

1,089‌

Forward

Air

Corp

29,828‌

3,545‌

Heartland

Express

Inc

53,547‌

875‌

Hub

Group

Inc

(d)

37,660‌

3,394‌

Marten

Transport

Ltd

66,270‌

1,502‌

Matson

Inc

41,201‌

3,851‌

RXO

Inc

(d)

134,344‌

2,962‌

World

Kinect

Corp

71,386‌

1,609‌

$

22,029‌

Trucking

&

Leasing

-

0

.14

%

Greenbrier

Cos

Inc/The

36,679‌

1,694‌

Water

-

0

.91

%

American

States

Water

Co

42,487‌

3,756‌

California

Water

Service

Group

64,335‌

3,411‌

Middlesex

Water

Co

20,317‌

1,634‌

SJW

Group

31,777‌

2,239‌

$

11,040‌

TOTAL

COMMON

STOCKS

$

1,194,704‌

Total

Investments

$

1,226,063‌

Other

Assets

and

Liabilities

-  (0.52)%

(

6,303‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,219,760‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$8,119

or

0.67%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$8,030

or

0.66%

of

net

assets.

Portfolio

Summary

Sector

Percent

Financial

23

.92‌

%

Consumer,

Non-cyclical

17

.42‌

%

Industrial

16

.66‌

%

Consumer,

Cyclical

15

.15‌

%

Technology

9

.00‌

%

Energy

5

.28‌

%

Basic

Materials

4

.70‌

%

Communications

3

.90‌

%

Money

Market

Funds

2

.44‌

%

Utilities

1

.92‌

%

Exchange-Traded

Funds

0

.13‌

%

Other

Assets

and

Liabilities

(

0

.52‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

273,854‌

$

246,534‌

$

27,320‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

28,521‌

24,793‌

53,314‌

—‌

$

28,521‌

$

298,647‌

$

299,848‌

$

27,320‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

561‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

77‌

—‌

—‌

—‌

$

638‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

232

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Russell

2000

Emini;

September

2023

Long

234‌

$

23,559‌

$

492‌

Total

$

492‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

233

INVESTMENT

COMPANIES

-

3

.77

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.23

%

iShares

Russell

2000

Value

ETF

19,900‌

$

3,010‌

Money

Market

Funds

-

3

.54

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

5.21%

(a),(b)

2,798,086‌

2,798‌

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

(a),(b),(c)

43,284,695‌

43,285‌

$

46,083‌

TOTAL

INVESTMENT

COMPANIES

$

49,093‌

COMMON

STOCKS

-

96

.86

%

Shares

Held

Value

(000's)

Advertising

-

0

.18

%

Advantage

Solutions

Inc

(d)

9,575‌

$

25‌

Boston

Omaha

Corp

(d)

2,387‌

47‌

Clear

Channel

Outdoor

Holdings

Inc

(d)

41,145‌

74‌

Quotient

Technology

Inc

(d)

9,983‌

39‌

Stagwell

Inc

(d)

322,639‌

2,165‌

$

2,350‌

Aerospace

&

Defense

-

0

.60

%

AAR

Corp

(d)

3,810‌

228‌

AerSale

Corp

(d)

111,572‌

1,675‌

Archer

Aviation

Inc

(d)

16,825‌

113‌

Astronics

Corp

(d)

2,872‌

60‌

Barnes

Group

Inc

44,010‌

1,730‌

Ducommun

Inc

(d)

1,247‌

62‌

Joby

Aviation

Inc

(d),(e)

20,476‌

183‌

Kaman

Corp

3,144‌

72‌

Kratos

Defense

&

Security

Solutions

Inc

(d)

13,837‌

209‌

Moog

Inc

16,406‌

1,730‌

National

Presto

Industries

Inc

21,127‌

1,654‌

Triumph

Group

Inc

(d)

7,176‌

91‌

$

7,807‌

Agriculture

-

0

.19

%

Alico

Inc

778‌

20‌

Andersons

Inc/The

38,057‌

1,858‌

Benson

Hill

Inc

(d)

18,393‌

26‌

Dole

PLC

3,421‌

45‌

Fresh

Del

Monte

Produce

Inc

3,760‌

100‌

Limoneira

Co

1,936‌

30‌

Tejon

Ranch

Co

(d)

2,281‌

40‌

Universal

Corp/VA

2,665‌

135‌

Vector

Group

Ltd

13,266‌

174‌

$

2,428‌

Airlines

-

0

.08

%

Allegiant

Travel

Co

1,571‌

194‌

Hawaiian

Holdings

Inc

(d)

5,673‌

66‌

JetBlue

Airways

Corp

(d)

36,473‌

283‌

SkyWest

Inc

(d)

5,335‌

235‌

Spirit

Airlines

Inc

12,107‌

222‌

Sun

Country

Airlines

Holdings

Inc

(d)

1,848‌

40‌

$

1,040‌

Apparel

-

1

.41

%

Capri

Holdings

Ltd

(d)

190,180‌

7,020‌

Carter's

Inc

14,400‌

1,080‌

Fossil

Group

Inc

(d)

5,057‌

14‌

Hanesbrands

Inc

222,468‌

1,172‌

Kontoor

Brands

Inc

26,800‌

1,135‌

Lakeland

Industries

Inc

47,300‌

732‌

Oxford

Industries

Inc

5,510‌

594‌

Rocky

Brands

Inc

690‌

14‌

Steven

Madden

Ltd

38,100‌

1,272‌

Urban

Outfitters

Inc

(d)

29,281‌

1,065‌

Weyco

Group

Inc

662‌

18‌

Wolverine

World

Wide

Inc

339,650‌

4,303‌

$

18,419‌

Automobile

Manufacturers

-

0

.15

%

Blue

Bird

Corp

(d)

1,800‌

38‌

Hyliion

Holdings

Corp

(d)

16,284‌

32‌

Nikola

Corp

(d),(e)

65,466‌

175‌

Proterra

Inc

(d)

24,444‌

41‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Automobile

Manufacturers

(continued)

REV

Group

Inc

3,498‌

$

45‌

TuSimple

Holdings

Inc

(d)

18,220‌

43‌

Wabash

National

Corp

64,898‌

1,537‌

Workhorse

Group

Inc

(d),(e)

16,738‌

22‌

$

1,933‌

Automobile

Parts

&

Equipment

-

0

.59

%

Adient

PLC

(d)

64,222‌

2,734‌

Aeva

Technologies

Inc

(d)

8,438‌

11‌

Allison

Transmission

Holdings

Inc

6,800‌

399‌

American

Axle

&

Manufacturing

Holdings

Inc

(d)

12,598‌

119‌

Aurora

Innovation

Inc

(d)

33,525‌

110‌

Commercial

Vehicle

Group

Inc

(d)

3,154‌

33‌

Cooper-Standard

Holdings

Inc

(d)

1,238‌

23‌

Dana

Inc

14,453‌

274‌

Goodyear

Tire

&

Rubber

Co/The

(d)

168,761‌

2,714‌

Holley

Inc

(d)

5,604‌

36‌

indie

Semiconductor

Inc

(d)

949‌

9‌

Methode

Electronics

Inc

3,906‌

131‌

Microvast

Holdings

Inc

(d)

11,161‌

32‌

Miller

Industries

Inc/TN

21,876‌

830‌

SES

AI

Corp

(d),(e)

12,515‌

39‌

Solid

Power

Inc

(d)

17,091‌

49‌

Standard

Motor

Products

Inc

2,342‌

89‌

Titan

International

Inc

(d)

5,785‌

72‌

$

7,704‌

Banks

-

11

.90

%

1st

Source

Corp

25,081‌

1,177‌

ACNB

Corp

13,930‌

483‌

Alerus

Financial

Corp

2,013‌

40‌

Amalgamated

Financial

Corp

1,982‌

40‌

Amerant

Bancorp

Inc

2,853‌

57‌

American

National

Bankshares

Inc

1,143‌

47‌

Ameris

Bancorp

36,908‌

1,611‌

Ames

National

Corp

912‌

18‌

Arrow

Financial

Corp

1,554‌

31‌

Associated

Banc-Corp

105,108‌

1,992‌

Atlantic

Union

Bankshares

Corp

8,293‌

265‌

BancFirst

Corp

2,100‌

210‌

Bank

First

Corp

(e)

1,035‌

91‌

Bank

of

Hawaii

Corp

(e)

4,331‌

247‌

Bank

of

Marin

Bancorp

58,217‌

1,221‌

Bank

of

NT

Butterfield

&

Son

Ltd/The

5,149‌

165‌

Bank7

Corp

371‌

10‌

BankUnited

Inc

101,313‌

3,023‌

Bankwell

Financial

Group

Inc

665‌

18‌

Banner

Corp

3,783‌

180‌

Bar

Harbor

Bankshares

1,623‌

44‌

BayCom

Corp

26,681‌

538‌

BCB

Bancorp

Inc

43,086‌

553‌

Blue

Foundry

Bancorp

(d)

2,750‌

28‌

Blue

Ridge

Bankshares

Inc

1,870‌

16‌

Bridgewater

Bancshares

Inc

(d)

52,870‌

566‌

Burke

&

Herbert

Financial

Services

Corp

661‌

36‌

Business

First

Bancshares

Inc

2,643‌

54‌

Byline

Bancorp

Inc

2,757‌

61‌

C&F

Financial

Corp

346‌

19‌

Cadence

Bank

256,138‌

6,416‌

Cambridge

Bancorp

7,044‌

434‌

Camden

National

Corp

32,471‌

1,123‌

Capital

Bancorp

Inc

1,009‌

20‌

Capital

City

Bank

Group

Inc

961‌

31‌

Capstar

Financial

Holdings

Inc

2,231‌

33‌

Carter

Bankshares

Inc

(d)

2,660‌

39‌

Cathay

General

Bancorp

69,082‌

2,628‌

Central

Pacific

Financial

Corp

99,260‌

1,810‌

Central

Valley

Community

Bancorp

31,058‌

531‌

Chemung

Financial

Corp

(e)

370‌

16‌

ChoiceOne

Financial

Services

Inc

(e)

739‌

18‌

Citizens

&

Northern

Corp

1,654‌

35‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

234

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

Citizens

Financial

Services

Inc

394‌

$

28‌

City

Holding

Co

1,545‌

153‌

Civista

Bancshares

Inc

29,728‌

543‌

CNB

Financial

Corp/PA

30,663‌

597‌

Codorus

Valley

Bancorp

Inc

1,016‌

22‌

Colony

Bankcorp

Inc

1,834‌

20‌

Columbia

Banking

System

Inc

92,800‌

2,074‌

Comerica

Inc

137,980‌

7,445‌

Community

Bank

System

Inc

5,881‌

317‌

Community

Trust

Bancorp

Inc

29,050‌

1,115‌

ConnectOne

Bancorp

Inc

112,796‌

2,309‌

CrossFirst

Bankshares

Inc

(d)

47,700‌

556‌

Customers

Bancorp

Inc

(d)

56,964‌

2,392‌

CVB

Financial

Corp

82,484‌

1,556‌

Dime

Community

Bancshares

Inc

13,363‌

300‌

Eagle

Bancorp

Inc

76,288‌

2,113‌

Eastern

Bankshares

Inc

17,100‌

241‌

Enterprise

Bancorp

Inc/MA

1,028‌

33‌

Enterprise

Financial

Services

Corp

20,810‌

853‌

Equity

Bancshares

Inc

1,671‌

45‌

Esquire

Financial

Holdings

Inc

85‌

4‌

Evans

Bancorp

Inc

554‌

16‌

Farmers

&

Merchants

Bancorp

Inc/Archbold

OH

1,503‌

32‌

Farmers

National

Banc

Corp

4,072‌

56‌

FB

Financial

Corp

38,598‌

1,367‌

Fidelity

D&D

Bancorp

Inc

(e)

492‌

25‌

Financial

Institutions

Inc

32,594‌

625‌

First

Bancorp

Inc/The

1,047‌

28‌

First

BanCorp/Puerto

Rico

17,864‌

265‌

First

Bancorp/Southern

Pines

NC

4,396‌

145‌

First

Bancshares

Inc/The

3,352‌

105‌

First

Bank/Hamilton

NJ

2,385‌

30‌

First

Busey

Corp

55,183‌

1,195‌

First

Business

Financial

Services

Inc

15,899‌

541‌

First

Commonwealth

Financial

Corp

11,297‌

163‌

First

Community

Bankshares

Inc

1,950‌

66‌

First

Community

Corp/SC

781‌

15‌

First

Financial

Bancorp

10,439‌

241‌

First

Financial

Corp/IN

41,311‌

1,579‌

First

Foundation

Inc

5,514‌

40‌

First

Hawaiian

Inc

94,207‌

1,949‌

First

Internet

Bancorp

69,420‌

1,565‌

First

Interstate

BancSystem

Inc

40,820‌

1,173‌

First

Merchants

Corp

39,722‌

1,276‌

First

Mid

Bancshares

Inc

36,792‌

1,126‌

First

of

Long

Island

Corp/The

84,815‌

1,183‌

Five

Star

Bancorp

780‌

19‌

Fulton

Financial

Corp

17,954‌

257‌

FVCBankcorp

Inc

(d)

1,651‌

21‌

German

American

Bancorp

Inc

3,106‌

91‌

Glacier

Bancorp

Inc

12,310‌

403‌

Great

Southern

Bancorp

Inc

16,504‌

914‌

Guaranty

Bancshares

Inc/TX

931‌

30‌

Hancock

Whitney

Corp

9,580‌

422‌

Hanmi

Financial

Corp

116,319‌

2,210‌

HarborOne

Bancorp

Inc

4,634‌

49‌

HBT

Financial

Inc

1,424‌

28‌

Heartland

Financial

USA

Inc

21,470‌

737‌

Heritage

Commerce

Corp

6,581‌

63‌

Heritage

Financial

Corp/WA

8,277‌

156‌

Hilltop

Holdings

Inc

74,057‌

2,290‌

Home

BancShares

Inc/AR

21,049‌

512‌

HomeStreet

Inc

123,767‌

1,139‌

Hope

Bancorp

Inc

223,048‌

2,422‌

Horizon

Bancorp

Inc/IN

103,263‌

1,279‌

Independent

Bank

Corp

4,881‌

294‌

Independent

Bank

Corp/MI

75,707‌

1,564‌

Independent

Bank

Group

Inc

30,410‌

1,365‌

International

Bancshares

Corp

5,933‌

295‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

Investar

Holding

Corp

43,200‌

$

642‌

John

Marshall

Bancorp

Inc

1,321‌

25‌

Kearny

Financial

Corp/MD

145,529‌

1,250‌

Lakeland

Bancorp

Inc

113,386‌

1,713‌

Lakeland

Financial

Corp

2,567‌

142‌

LCNB

Corp

(e)

1,120‌

20‌

Live

Oak

Bancshares

Inc

64,317‌

2,436‌

Luther

Burbank

Corp

56,781‌

585‌

Macatawa

Bank

Corp

23,230‌

229‌

MainStreet

Bancshares

Inc

737‌

18‌

Mercantile

Bank

Corp

29,530‌

1,037‌

Merchants

Bancorp/IN

31,765‌

1,004‌

Metrocity

Bankshares

Inc

2,020‌

43‌

Metropolitan

Bank

Holding

Corp

(d),(e)

1,047‌

47‌

Mid

Penn

Bancorp

Inc

1,575‌

37‌

Middlefield

Banc

Corp

832‌

24‌

Midland

States

Bancorp

Inc

51,539‌

1,208‌

MidWestOne

Financial

Group

Inc

24,247‌

595‌

MVB

Financial

Corp

1,132‌

29‌

National

Bank

Holdings

Corp

4,069‌

140‌

National

Bankshares

Inc

(e)

11,411‌

340‌

NBT

Bancorp

Inc

4,621‌

172‌

NewtekOne

Inc

2,575‌

46‌

Nicolet

Bankshares

Inc

1,425‌

119‌

Northeast

Bank

14,562‌

694‌

Northeast

Community

Bancorp

Inc

40,719‌

659‌

Northrim

BanCorp

Inc

18,617‌

890‌

Norwood

Financial

Corp

782‌

25‌

Oak

Valley

Bancorp

(e)

713‌

20‌

OFG

Bancorp

5,150‌

172‌

Old

National

Bancorp/IN

299,812‌

5,106‌

Old

Second

Bancorp

Inc

4,747‌

76‌

Orange

County

Bancorp

Inc

(e)

541‌

24‌

Origin

Bancorp

Inc

3,225‌

105‌

Orrstown

Financial

Services

Inc

1,102‌

26‌

PacWest

Bancorp

(e)

235,928‌

2,194‌

Park

National

Corp

1,587‌

177‌

Parke

Bancorp

Inc

27,738‌

551‌

Pathward

Financial

Inc

2,021‌

105‌

PCB

Bancorp

32,658‌

533‌

Peapack-Gladstone

Financial

Corp

1,921‌

56‌

Penns

Woods

Bancorp

Inc

726‌

20‌

Peoples

Bancorp

Inc/OH

3,740‌

105‌

Peoples

Financial

Services

Corp

768‌

35‌

Pioneer

Bancorp

Inc/NY

(d)

1,239‌

12‌

Plumas

Bancorp

504‌

18‌

Ponce

Financial

Group

Inc

(d)

2,170‌

20‌

Popular

Inc

36,800‌

2,670‌

Preferred

Bank/Los

Angeles

CA

36,093‌

2,385‌

Premier

Financial

Corp

100,770‌

2,183‌

Primis

Financial

Corp

49,133‌

467‌

Princeton

Bancorp

Inc

537‌

16‌

QCR

Holdings

Inc

1,825‌

93‌

RBB

Bancorp

43,012‌

631‌

Red

River

Bancshares

Inc

509‌

25‌

Renasant

Corp

6,133‌

190‌

Republic

Bancorp

Inc/KY

11,459‌

525‌

S&T

Bancorp

Inc

4,297‌

136‌

Sandy

Spring

Bancorp

Inc

89,744‌

2,196‌

Seacoast

Banking

Corp

of

Florida

9,298‌

230‌

ServisFirst

Bancshares

Inc

3,725‌

222‌

Shore

Bancshares

Inc

31,862‌

379‌

Sierra

Bancorp

30,579‌

644‌

Simmons

First

National

Corp

127,034‌

2,564‌

SmartFinancial

Inc

1,755‌

44‌

South

Plains

Financial

Inc

1,332‌

36‌

Southern

First

Bancshares

Inc

(d)

21,026‌

634‌

Southern

States

Bancshares

Inc

794‌

20‌

Southside

Bancshares

Inc

3,252‌

108‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

235

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

SouthState

Corp

8,399‌

$

652‌

Stellar

Bancorp

Inc

5,086‌

126‌

Sterling

Bancorp

Inc/MI

(d)

2,142‌

13‌

Stock

Yards

Bancorp

Inc

357‌

17‌

Summit

Financial

Group

Inc

1,218‌

27‌

Synovus

Financial

Corp

16,600‌

563‌

Texas

Capital

Bancshares

Inc

(d)

30,889‌

1,973‌

Third

Coast

Bancshares

Inc

(d)

1,328‌

27‌

Tompkins

Financial

Corp

1,536‌

92‌

Towne

Bank/Portsmouth

VA

49,239‌

1,245‌

TriCo

Bancshares

3,434‌

128‌

Triumph

Financial

Inc

2,456‌

174‌

TrustCo

Bank

Corp

NY

44,692‌

1,359‌

Trustmark

Corp

6,719‌

176‌

UMB

Financial

Corp

4,891‌

347‌

United

Bankshares

Inc/WV

107,322‌

3,589‌

United

Community

Banks

Inc/GA

70,742‌

2,057‌

Unity

Bancorp

Inc

802‌

21‌

Univest

Financial

Corp

56,434‌

1,100‌

USCB

Financial

Holdings

Inc

(d)

1,163‌

13‌

Valley

National

Bancorp

219,927‌

2,257‌

Veritex

Holdings

Inc

55,594‌

1,196‌

Virginia

National

Bankshares

Corp

499‌

18‌

Walker

&

Dunlop

Inc

3,513‌

320‌

Washington

Trust

Bancorp

Inc

48,674‌

1,560‌

WesBanco

Inc

6,371‌

178‌

West

BanCorp

Inc

1,794‌

36‌

Westamerica

BanCorp

2,016‌

99‌

Western

Alliance

Bancorp

140,195‌

7,283‌

Wintrust

Financial

Corp

13,000‌

1,097‌

Zions

Bancorp

NA

192,105‌

7,348‌

$

155,070‌

Beverages

-

0

.02

%

BRC

Inc

(d),(e)

307‌

1‌

Duckhorn

Portfolio

Inc/The

(d)

3,907‌

49‌

Primo

Water

Corp

14,869‌

211‌

Zevia

PBC

(d)

1,129‌

3‌

$

264‌

Biotechnology

-

0

.66

%

2seventy

bio

Inc

(d)

5,543‌

42‌

4D

Molecular

Therapeutics

Inc

(d)

3,197‌

59‌

Aadi

Bioscience

Inc

(d)

1,720‌

9‌

Achillion

Pharamceuticals

Inc

(d),(f)

8,433‌

4‌

Acrivon

Therapeutics

Inc

(d)

920‌

11‌

Actinium

Pharmaceuticals

Inc

(d)

145‌

1‌

Adicet

Bio

Inc

(d)

3,399‌

9‌

ADMA

Biologics

Inc

(d)

10,921‌

45‌

Agenus

Inc

(d)

32,035‌

49‌

Allakos

Inc

(d)

7,333‌

39‌

Allogene

Therapeutics

Inc

(d)

8,925‌

44‌

Allovir

Inc

(d)

4,448‌

15‌

Alpine

Immune

Sciences

Inc

(d)

1,533‌

19‌

Altimmune

Inc

(d)

5,246‌

17‌

ALX

Oncology

Holdings

Inc

(d)

2,405‌

15‌

AnaptysBio

Inc

(d)

366‌

7‌

ANI

Pharmaceuticals

Inc

(d)

320‌

17‌

Annexon

Inc

(d)

4,844‌

17‌

Arbutus

Biopharma

Corp

(d)

5,009‌

11‌

Arcturus

Therapeutics

Holdings

Inc

(d)

2,353‌

82‌

Arcus

Biosciences

Inc

(d)

4,073‌

81‌

Ardelyx

Inc

(d)

8,105‌

32‌

ARS

Pharmaceuticals

Inc

(d),(e)

2,004‌

15‌

Astria

Therapeutics

Inc

(d)

329‌

3‌

Atara

Biotherapeutics

Inc

(d)

9,057‌

20‌

Atea

Pharmaceuticals

Inc

(d)

8,327‌

29‌

Aura

Biosciences

Inc

(d)

3,033‌

36‌

Avidity

Biosciences

Inc

(d)

7,798‌

74‌

Beam

Therapeutics

Inc

(d)

694‌

21‌

BioAtla

Inc

(d)

4,694‌

14‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

BioCryst

Pharmaceuticals

Inc

(d)

5,146‌

$

38‌

Biohaven

Ltd

(d)

6,429‌

128‌

Bluebird

Bio

Inc

(d)

11,538‌

45‌

Bridgebio

Pharma

Inc

(d)

3,846‌

135‌

Cabaletta

Bio

Inc

(d)

294‌

4‌

Cara

Therapeutics

Inc

(d)

5,093‌

17‌

Caribou

Biosciences

Inc

(d)

6,269‌

45‌

Carisma

Therapeutics

Inc

(e)

2,829‌

16‌

Celcuity

Inc

(d),(e)

1,828‌

18‌

Celldex

Therapeutics

Inc

(d)

3,807‌

135‌

Century

Therapeutics

Inc

(d)

2,361‌

7‌

Chinook

Therapeutics

Inc

(d)

4,587‌

180‌

Cogent

Biosciences

Inc

(d)

3,496‌

45‌

Compass

Therapeutics

Inc

(d)

9,047‌

26‌

Crinetics

Pharmaceuticals

Inc

(d)

4,903‌

93‌

Cullinan

Oncology

Inc

(d)

2,632‌

28‌

Cytokinetics

Inc

(d)

752‌

25‌

Day

One

Biopharmaceuticals

Inc

(d)

455‌

6‌

Deciphera

Pharmaceuticals

Inc

(d)

3,772‌

51‌

Design

Therapeutics

Inc

(d),(e)

3,479‌

28‌

DICE

Therapeutics

Inc

(d)

763‌

36‌

Disc

Medicine

Inc

(d)

50‌

2‌

Dynavax

Technologies

Corp

(d)

2,291‌

32‌

Dyne

Therapeutics

Inc

(d)

3,339‌

41‌

Edgewise

Therapeutics

Inc

(d)

4,722‌

34‌

Editas

Medicine

Inc

(d)

7,738‌

68‌

Emergent

BioSolutions

Inc

(d)

213,040‌

1,466‌

Entrada

Therapeutics

Inc

(d)

2,365‌

41‌

EQRx

Inc

(d)

35,181‌

60‌

Erasca

Inc

(d)

8,567‌

23‌

EyePoint

Pharmaceuticals

Inc

(d),(e)

1,366‌

17‌

Fate

Therapeutics

Inc

(d)

9,345‌

39‌

FibroGen

Inc

(d)

10,027‌

21‌

Forafric

Global

PLC

(d)

552‌

6‌

Genelux

Corp

(d),(e)

216‌

5‌

Generation

Bio

Co

(d)

4,808‌

24‌

Geron

Corp

(d)

13,400‌

43‌

Graphite

Bio

Inc

(d)

2,973‌

8‌

HilleVax

Inc

(d)

1,792‌

27‌

Humacyte

Inc

(d)

824‌

3‌

Icosavax

Inc

(d),(e)

2,922‌

26‌

Ideaya

Biosciences

Inc

(d)

2,138‌

48‌

IGM

Biosciences

Inc

(d),(e)

1,265‌

13‌

Ikena

Oncology

Inc

(d)

2,255‌

12‌

ImmunityBio

Inc

(d)

1,957‌

4‌

ImmunoGen

Inc

(d)

11,189‌

199‌

Inhibrx

Inc

(d)

1,285‌

26‌

Innoviva

Inc

(d)

6,185‌

84‌

Inozyme

Pharma

Inc

(d)

3,592‌

18‌

Intellia

Therapeutics

Inc

(d)

8,330‌

353‌

Iovance

Biotherapeutics

Inc

(d)

22,936‌

167‌

iTeos

Therapeutics

Inc

(d)

2,738‌

39‌

Janux

Therapeutics

Inc

(d),(e)

1,720‌

24‌

Kezar

Life

Sciences

Inc

(d)

7,577‌

17‌

Kiniksa

Pharmaceuticals

Ltd

(d)

3,465‌

65‌

Kodiak

Sciences

Inc

(d)

3,542‌

11‌

Larimar

Therapeutics

Inc

(d)

2,721‌

12‌

Lexicon

Pharmaceuticals

Inc

(d)

5,420‌

11‌

Ligand

Pharmaceuticals

Inc

(d)

1,572‌

105‌

Liquidia

Corp

(d)

1,481‌

11‌

MacroGenics

Inc

(d)

4,517‌

22‌

MeiraGTx

Holdings

plc

(d)

914‌

6‌

Mersana

Therapeutics

Inc

(d)

4,155‌

5‌

Mineralys

Therapeutics

Inc

(d),(e)

1,100‌

16‌

Monte

Rosa

Therapeutics

Inc

(d)

3,287‌

23‌

Myriad

Genetics

Inc

(d)

8,904‌

199‌

NeoGenomics

Inc

(d)

12,816‌

222‌

NGM

Biopharmaceuticals

Inc

(d)

4,626‌

11‌

Nkarta

Inc

(d)

3,211‌

7‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

236

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

Novavax

Inc

(d)

1,680‌

$

16‌

Nurix

Therapeutics

Inc

(d)

5,198‌

50‌

Nuvation

Bio

Inc

(d)

16,072‌

30‌

Ocean

Biomedical

Inc

(d)

919‌

4‌

Olema

Pharmaceuticals

Inc

(d)

2,849‌

25‌

Omeros

Corp

(d),(e)

3,824‌

17‌

OmniAb

Operations

Inc

(d)

476‌

—‌

OmniAb

Operations

Inc

(d)

476‌

—‌

Organogenesis

Holdings

Inc

(d),(e)

120,684‌

515‌

Ovid

therapeutics

Inc

(d)

6,329‌

23‌

PepGen

Inc

(d),(e)

814‌

5‌

Phathom

Pharmaceuticals

Inc

(d)

1,942‌

30‌

Point

Biopharma

Global

Inc

(d)

9,979‌

89‌

Poseida

Therapeutics

Inc

(d)

7,213‌

12‌

Precigen

Inc

(d)

14,346‌

20‌

Prelude

Therapeutics

Inc

(d),(e)

1,050‌

4‌

ProKidney

Corp

(d),(e)

5,065‌

65‌

Protalix

BioTherapeutics

Inc

(d)

5,961‌

10‌

PTC

Therapeutics

Inc

(d)

1,516‌

61‌

Rain

Oncology

Inc

(d)

1,353‌

2‌

Rallybio

Corp

(d)

3,244‌

19‌

RAPT

Therapeutics

Inc

(d)

768‌

18‌

Recursion

Pharmaceuticals

Inc

(d)

15,047‌

212‌

REGENXBIO

Inc

(d)

4,500‌

86‌

Relay

Therapeutics

Inc

(d)

9,957‌

125‌

Replimune

Group

Inc

(d)

4,497‌

95‌

Rigel

Pharmaceuticals

Inc

(d)

3,304‌

5‌

Rocket

Pharmaceuticals

Inc

(d)

691‌

12‌

Sage

Therapeutics

Inc

(d)

352‌

12‌

Sana

Biotechnology

Inc

(d),(e)

9,526‌

56‌

Sangamo

Therapeutics

Inc

(d)

15,315‌

20‌

Savara

Inc

(d)

7,583‌

27‌

Scholar

Rock

Holding

Corp

(d)

3,010‌

21‌

Scilex

Holding

Co

(d)

3,201‌

18‌

Seer

Inc

(d)

6,224‌

32‌

Selecta

Biosciences

Inc

(d)

9,135‌

10‌

Stoke

Therapeutics

Inc

(d)

3,047‌

20‌

Sutro

Biopharma

Inc

(d)

6,635‌

30‌

Syndax

Pharmaceuticals

Inc

(d)

1,168‌

25‌

Tango

Therapeutics

Inc

(d)

4,740‌

16‌

Tarsus

Pharmaceuticals

Inc

(d),(e)

2,605‌

57‌

Tenaya

Therapeutics

Inc

(d),(e)

5,052‌

24‌

Terns

Pharmaceuticals

Inc

(d)

1,545‌

11‌

Theravance

Biopharma

Inc

(d),(e)

6,805‌

67‌

Theseus

Pharmaceuticals

Inc

(d)

2,147‌

7‌

Third

Harmonic

Bio

Inc

(d)

2,067‌

15‌

Travere

Therapeutics

Inc

(d)

565‌

10‌

Twist

Bioscience

Corp

(d)

6,279‌

153‌

Tyra

Biosciences

Inc

(d),(e)

952‌

14‌

UroGen

Pharma

Ltd

(d)

376‌

8‌

Vera

Therapeutics

Inc

(d)

1,937‌

36‌

Veracyte

Inc

(d)

8,023‌

220‌

Verve

Therapeutics

Inc

(d)

5,598‌

115‌

Vigil

Neuroscience

Inc

(d)

1,704‌

14‌

Vir

Biotechnology

Inc

(d)

8,765‌

123‌

Viridian

Therapeutics

Inc

(d)

954‌

18‌

Vor

BioPharma

Inc

(d)

3,998‌

12‌

WaVe

Life

Sciences

Ltd

(d)

6,276‌

27‌

X4

Pharmaceuticals

Inc

(d)

6,535‌

12‌

Xencor

Inc

(d)

2,924‌

71‌

XOMA

Corp

(d)

774‌

12‌

Zevra

Therapeutics

Inc

(d)

3,681‌

18‌

Zura

Bio

Ltd

(d)

803‌

6‌

Zymeworks

Inc

(d)

5,888‌

44‌

$

8,590‌

Building

Materials

-

0

.43

%

American

Woodmark

Corp

(d)

1,726‌

132‌

Apogee

Enterprises

Inc

1,513‌

75‌

Armstrong

World

Industries

Inc

21,600‌

1,671‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Building

Materials

(continued)

Aspen

Aerogels

Inc

(d)

5,638‌

$

47‌

Boise

Cascade

Co

4,386‌

454‌

Gibraltar

Industries

Inc

(d)

1,504‌

97‌

Griffon

Corp

1,958‌

82‌

JELD-WEN

Holding

Inc

(d)

72,995‌

1,300‌

Knife

River

Corp

(d)

5,621‌

244‌

LSI

Industries

Inc

670‌

8‌

Masterbrand

Inc

(d)

14,308‌

177‌

Modine

Manufacturing

Co

(d)

2,051‌

77‌

SmartRent

Inc

(d)

20,320‌

81‌

SPX

Technologies

Inc

(d)

859‌

73‌

Summit

Materials

Inc

(d)

13,183‌

477‌

UFP

Industries

Inc

5,616‌

577‌

$

5,572‌

Chemicals

-

3

.89

%

AdvanSix

Inc

45,627‌

1,830‌

American

Vanguard

Corp

2,469‌

45‌

Amyris

Inc

(d),(e)

20,851‌

18‌

Avient

Corp

9,982‌

405‌

Cabot

Corp

18,000‌

1,278‌

Chemours

Co/The

290,180‌

10,731‌

Codexis

Inc

(d)

6,186‌

22‌

Danimer

Scientific

Inc

(d),(e)

9,318‌

26‌

Ecovyst

Inc

(d)

228,950‌

2,813‌

Element

Solutions

Inc

939,420‌

19,690‌

Hawkins

Inc

10,500‌

491‌

HB

Fuller

Co

651‌

48‌

Ingevity

Corp

(d)

35,100‌

2,247‌

Innospec

Inc

9,638‌

1,032‌

Intrepid

Potash

Inc

(d)

1,225‌

34‌

Koppers

Holdings

Inc

2,232‌

85‌

Kronos

Worldwide

Inc

2,342‌

22‌

Mativ

Holdings

Inc

200,293‌

3,153‌

Minerals

Technologies

Inc

42,296‌

2,595‌

NewMarket

Corp

1,600‌

723‌

Oil-Dri

Corp

of

America

383‌

24‌

Origin

Materials

Inc

(d)

11,697‌

52‌

Perimeter

Solutions

SA

(d)

17,283‌

96‌

Rayonier

Advanced

Materials

Inc

(d)

7,037‌

33‌

Rogers

Corp

(d)

515‌

87‌

Stepan

Co

2,082‌

200‌

Terawulf

Inc

(d),(e)

5,357‌

16‌

Trinseo

PLC

157,623‌

2,777‌

Tronox

Holdings

PLC

12,920‌

172‌

Valhi

Inc

(e)

229‌

4‌

$

50,749‌

Coal

-

0

.11

%

Alpha

Metallurgical

Resources

Inc

1,336‌

231‌

Arch

Resources

Inc

2,023‌

260‌

CONSOL

Energy

Inc

3,750‌

279‌

Hallador

Energy

Co

(d)

2,423‌

22‌

NACCO

Industries

Inc

458‌

17‌

Peabody

Energy

Corp

13,750‌

309‌

Ramaco

Resources

Inc

-

A

Shares

2,393‌

22‌

Ramaco

Resources

Inc

-

B

Shares

477‌

7‌

SunCoke

Energy

Inc

9,333‌

83‌

Warrior

Met

Coal

Inc

5,713‌

253‌

$

1,483‌

Commercial

Services

-

4

.26

%

2U

Inc

(d)

8,301‌

40‌

Aaron's

Co

Inc/The

128,192‌

2,028‌

ABM

Industries

Inc

56,713‌

2,624‌

Acacia

Research

Corp

(d)

4,034‌

16‌

Adtalem

Global

Education

Inc

(d)

5,029‌

217‌

AirSculpt

Technologies

Inc

131‌

1‌

Alight

Inc

(d)

43,913‌

429‌

AMN

Healthcare

Services

Inc

(d)

38,220‌

4,095‌

API

Group

Corp

(d)

7,576‌

218‌

Arlo

Technologies

Inc

(d)

1,053‌

12‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

237

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

ASGN

Inc

(d)

103,959‌

$

7,934‌

Bakkt

Holdings

Inc

(d),(e)

7,398‌

12‌

Barrett

Business

Services

Inc

52‌

5‌

BGSF

Inc

30,900‌

313‌

BrightView

Holdings

Inc

(d)

4,602‌

35‌

Brink's

Co/The

32,100‌

2,342‌

Cass

Information

Systems

Inc

29,074‌

1,104‌

Chegg

Inc

(d)

1,705‌

17‌

Cimpress

PLC

(d)

857‌

60‌

Cipher

Mining

Inc

(d),(e)

4,116‌

16‌

CompoSecure

Inc

(d)

101‌

1‌

CoreCivic

Inc

(d)

12,547‌

122‌

CPI

Card

Group

Inc

(d)

4,200‌

103‌

Cross

Country

Healthcare

Inc

(d)

3,200‌

83‌

Deluxe

Corp

4,850‌

92‌

Distribution

Solutions

Group

Inc

(d)

58‌

3‌

Emerald

Holding

Inc

(d),(e)

153,956‌

762‌

Ennis

Inc

27,351‌

589‌

Euronet

Worldwide

Inc

(d)

5,000‌

439‌

European

Wax

Center

Inc

(d),(e)

175‌

3‌

First

Advantage

Corp

(d)

5,489‌

82‌

FiscalNote

Holdings

Inc

(d)

5,267‌

17‌

GEO

Group

Inc/The

(d)

13,262‌

99‌

Graham

Holdings

Co

2,309‌

1,355‌

Green

Dot

Corp

(d)

5,128‌

100‌

Hackett

Group

Inc/The

258‌

6‌

Healthcare

Services

Group

Inc

112,104‌

1,414‌

Heidrick

&

Struggles

International

Inc

78,191‌

2,133‌

Information

Services

Group

Inc

1,711‌

9‌

John

Wiley

&

Sons

Inc

4,714‌

161‌

Kelly

Services

Inc

89,882‌

1,647‌

Kforce

Inc

152,625‌

9,682‌

Korn

Ferry

44,023‌

2,319‌

Laureate

Education

Inc

2,172‌

28‌

Lincoln

Educational

Services

Corp

(d)

2,513‌

18‌

LiveRamp

Holdings

Inc

(d)

7,042‌

201‌

ManpowerGroup

Inc

27,800‌

2,193‌

MarketWise

Inc

3,363‌

6‌

Marqeta

Inc

(d)

46,912‌

262‌

Matthews

International

Corp

2,416‌

111‌

Medifast

Inc

13,900‌

1,416‌

Monro

Inc

3,444‌

126‌

Multiplan

Corp

(d)

41,755‌

90‌

Paysafe

Ltd

(d)

3,586‌

43‌

Perdoceo

Education

Corp

7,417‌

99‌

Performant

Financial

Corp

(d)

1,798‌

6‌

PROG

Holdings

Inc

(d)

4,134‌

168‌

Quad/Graphics

Inc

(d)

13,401‌

80‌

RCM

Technologies

Inc

(d)

13,300‌

270‌

Rent

the

Runway

Inc

(d)

4,797‌

9‌

Repay

Holdings

Corp

(d)

8,963‌

75‌

Resources

Connection

Inc

139,126‌

2,223‌

Riot

Platforms

Inc

(d)

5,331‌

99‌

Sabre

Corp

(d)

27,115‌

111‌

SEACOR

Marine

Holdings

Inc

(d)

2,660‌

31‌

Sterling

Check

Corp

(d)

2,446‌

29‌

StoneCo

Ltd

(d)

12,624‌

183‌

Strategic

Education

Inc

2,503‌

188‌

Textainer

Group

Holdings

Ltd

4,767‌

196‌

Triton

International

Ltd

5,113‌

431‌

TrueBlue

Inc

(d)

116,861‌

1,747‌

Universal

Technical

Institute

Inc

(d)

2,860‌

21‌

Upbound

Group

Inc

12,561‌

434‌

V2X

Inc

(d)

33,994‌

1,749‌

Willdan

Group

Inc

(d)

1,292‌

26‌

WW

International

Inc

(d),(e)

6,152‌

72‌

$

55,480‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Computers

-

2

.60

%

3D

Systems

Corp

(d)

14,068‌

$

123‌

Cantaloupe

Inc

(d)

1,960‌

15‌

Conduent

Inc

(d)

18,999‌

66‌

Desktop

Metal

Inc

(d)

30,937‌

56‌

ExlService

Holdings

Inc

(d)

38,995‌

5,496‌

Grid

Dynamics

Holdings

Inc

(d)

1,140‌

12‌

Insight

Enterprises

Inc

(d)

154,280‌

22,631‌

Mitek

Systems

Inc

(d)

284‌

3‌

NCR

Corp

(d)

81,100‌

2,180‌

NetScout

Systems

Inc

(d)

7,529‌

211‌

NextNav

Inc

(d)

429‌

1‌

OneSpan

Inc

(d)

319‌

4‌

PAR

Technology

Corp

(d)

2,715‌

94‌

Parsons

Corp

(d)

2,479‌

123‌

System1

Inc

(d)

2,628‌

8‌

Telos

Corp

(d)

414,400‌

1,040‌

Tingo

Group

Inc

(d),(e)

12,964‌

18‌

TTEC

Holdings

Inc

51,600‌

1,777‌

Unisys

Corp

(d)

7,335‌

40‌

Vuzix

Corp

(d),(e)

6,512‌

34‌

$

33,932‌

Consumer

Products

-

0

.28

%

ACCO

Brands

Corp

305,409‌

1,860‌

Central

Garden

&

Pet

Co

(d)

27,284‌

1,104‌

Central

Garden

&

Pet

Co

-

A

Shares

(d)

4,349‌

166‌

Helen

of

Troy

Ltd

(d)

2,660‌

376‌

Quanex

Building

Products

Corp

3,647‌

103‌

$

3,609‌

Cosmetics

&

Personal

Care

-

0

.42

%

Coty

Inc

(d)

295,980‌

3,564‌

Edgewell

Personal

Care

Co

47,758‌

1,882‌

Waldencast

plc

(d),(e)

2,126‌

12‌

$

5,458‌

Distribution

&

Wholesale

-

2

.08

%

A-Mark

Precious

Metals

Inc

2,105‌

86‌

Core

&

Main

Inc

(d)

349,445‌

11,046‌

EVI

Industries

Inc

(d)

82‌

2‌

G-III

Apparel

Group

Ltd

(d)

79,654‌

1,649‌

Global

Industrial

Co

15,560‌

443‌

Hudson

Technologies

Inc

(d)

4,055‌

37‌

MRC

Global

Inc

(d)

41,612‌

470‌

OPENLANE

Inc

(d)

11,913‌

187‌

Resideo

Technologies

Inc

(d)

89,191‌

1,670‌

Rush

Enterprises

Inc

-

Class

A

149,618‌

9,678‌

Rush

Enterprises

Inc

-

Class

B

696‌

48‌

ScanSource

Inc

(d)

33,664‌

1,013‌

ThredUp

Inc

(d)

6,243‌

22‌

Titan

Machinery

Inc

(d)

16,773‌

535‌

Veritiv

Corp

1,450‌

203‌

VSE

Corp

1,195‌

64‌

$

27,153‌

Diversified

Financial

Services

-

4

.31

%

Artisan

Partners

Asset

Management

Inc

159,880‌

6,633‌

Atlanticus

Holdings

Corp

(d)

463‌

19‌

Avantax

Inc

(d)

466‌

12‌

BGC

Group

Inc

17,463‌

83‌

Bit

Digital

Inc

(d)

6,691‌

30‌

Bread

Financial

Holdings

Inc

72,575‌

3,017‌

Brightsphere

Investment

Group

Inc

2,201‌

47‌

Cboe

Global

Markets

Inc

88,080‌

12,303‌

Columbia

Financial

Inc

(d)

1,940‌

34‌

Consumer

Portfolio

Services

Inc

(d),(e)

1,016‌

13‌

Diamond

Hill

Investment

Group

Inc

6,500‌

1,180‌

Enact

Holdings

Inc

83,717‌

2,277‌

Encore

Capital

Group

Inc

(d)

2,570‌

138‌

Enova

International

Inc

(d)

3,362‌

185‌

Evercore

Inc

-

Class

A

18,000‌

2,431‌

Federal

Agricultural

Mortgage

Corp

848‌

136‌

Federated

Hermes

Inc

54,300‌

1,837‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

238

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Diversified

Financial

Services

(continued)

Finance

Of

America

Cos

Inc

(d)

5,671‌

$

11‌

First

Western

Financial

Inc

(d)

852‌

18‌

Forge

Global

Holdings

Inc

(d)

12,115‌

35‌

GCM

Grosvenor

Inc

480‌

4‌

Hamilton

Lane

Inc

1,654‌

146‌

Hannon

Armstrong

Sustainable

Infrastructure

Capital

Inc

10,550‌

275‌

Home

Point

Capital

Inc

(d)

838‌

2‌

International

Money

Express

Inc

(d)

36,600‌

887‌

Janus

Henderson

Group

PLC

80,700‌

2,369‌

LendingClub

Corp

(d)

11,743‌

99‌

LendingTree

Inc

(d)

849‌

21‌

Moelis

&

Co

138,538‌

6,765‌

Mr

Cooper

Group

Inc

(d)

7,358‌

427‌

Navient

Corp

139,363‌

2,653‌

Nelnet

Inc

1,613‌

159‌

Ocwen

Financial

Corp

(d)

681‌

23‌

OppFi

Inc

(d)

1,305‌

3‌

Pagseguro

Digital

Ltd

(d)

8,567‌

97‌

PennyMac

Financial

Services

Inc

2,644‌

199‌

Perella

Weinberg

Partners

164,000‌

1,620‌

Piper

Sandler

Cos

341‌

50‌

PRA

Group

Inc

(d)

4,267‌

102‌

Radian

Group

Inc

107,065‌

2,884‌

Regional

Management

Corp

720‌

23‌

Sculptor

Capital

Management

Inc

1,145‌

13‌

Security

National

Financial

Corp

(d)

1,325‌

11‌

Silvercrest

Asset

Management

Group

Inc

22,100‌

461‌

SLM

Corp

122,500‌

1,982‌

StoneX

Group

Inc

(d)

1,763‌

162‌

SWK

Holdings

Corp

(d)

373‌

6‌

Velocity

Financial

Inc

(d)

928‌

11‌

Victory

Capital

Holdings

Inc

297‌

10‌

Virtu

Financial

Inc

106,100‌

1,969‌

Virtus

Investment

Partners

Inc

10,773‌

2,216‌

World

Acceptance

Corp

(d),(e)

388‌

61‌

$

56,149‌

Electric

-

1

.49

%

ALLETE

Inc

41,104‌

2,360‌

Altus

Power

Inc

(d)

6,907‌

47‌

Avista

Corp

61,301‌

2,369‌

Black

Hills

Corp

40,257‌

2,429‌

Genie

Energy

Ltd

991‌

13‌

Hawaiian

Electric

Industries

Inc

54,700‌

2,100‌

MGE

Energy

Inc

1,983‌

159‌

NorthWestern

Corp

40,745‌

2,301‌

Ormat

Technologies

Inc

2,119‌

172‌

Otter

Tail

Corp

29,747‌

2,410‌

PNM

Resources

Inc

52,509‌

2,354‌

Portland

General

Electric

Co

55,319‌

2,637‌

Unitil

Corp

1,261‌

65‌

$

19,416‌

Electrical

Components

&

Equipment

-

0

.47

%

Belden

Inc

23,194‌

2,241‌

Blink

Charging

Co

(d),(e)

2,292‌

15‌

Encore

Wire

Corp

1,854‌

316‌

Energizer

Holdings

Inc

48,000‌

1,714‌

EnerSys

322‌

35‌

ESS

Tech

Inc

(d)

9,687‌

19‌

Insteel

Industries

Inc

51,373‌

1,657‌

nLight

Inc

(d)

4,869‌

70‌

Powell

Industries

Inc

1,026‌

62‌

$

6,129‌

Electronics

-

3

.44

%

Advanced

Energy

Industries

Inc

88,615‌

11,093‌

Atmus

Filtration

Technologies

Inc

(d),(e)

44,500‌

1,061‌

Avnet

Inc

47,700‌

2,313‌

Bel

Fuse

Inc

1,071‌

58‌

Benchmark

Electronics

Inc

23,915‌

634‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electronics

(continued)

Brady

Corp

32,000‌

$

1,651‌

Coherent

Corp

(d)

241,705‌

11,447‌

Comtech

Telecommunications

Corp

2,895‌

29‌

ESCO

Technologies

Inc

1,199‌

121‌

Evolv

Technologies

Holdings

Inc

(d)

10,141‌

67‌

FARO

Technologies

Inc

(d)

2,052‌

34‌

GoPro

Inc

(d)

14,470‌

59‌

Itron

Inc

(d)

33,253‌

2,616‌

Kimball

Electronics

Inc

(d)

57,123‌

1,667‌

Knowles

Corp

(d)

9,920‌

181‌

Mirion

Technologies

Inc

(d)

22,100‌

167‌

NVE

Corp

(e)

56‌

4‌

Plexus

Corp

(d)

21,455‌

2,113‌

Sanmina

Corp

(d)

43,446‌

2,670‌

Stoneridge

Inc

(d)

2,383‌

49‌

TTM

Technologies

Inc

(d)

167,553‌

2,406‌

Turtle

Beach

Corp

(d)

1,659‌

19‌

Vishay

Intertechnology

Inc

86,609‌

2,438‌

Vontier

Corp

61,600‌

1,905‌

$

44,802‌

Energy

-

Alternate

Sources

-

0

.28

%

Alto

Ingredients

Inc

(d)

438,300‌

1,762‌

Cleanspark

Inc

(d)

7,397‌

44‌

Energy

Vault

Holdings

Inc

(d)

10,813‌

36‌

Eneti

Inc

2,726‌

35‌

Eos

Energy

Enterprises

Inc

(d),(e)

1,140‌

3‌

FuelCell

Energy

Inc

(d)

45,160‌

99‌

FutureFuel

Corp

2,784‌

27‌

Gevo

Inc

(d)

25,791‌

44‌

Green

Plains

Inc

(d)

5,300‌

188‌

Maxeon

Solar

Technologies

Ltd

(d)

883‌

22‌

REX

American

Resources

Corp

(d)

30,146‌

1,117‌

Stem

Inc

(d),(e)

15,708‌

111‌

Sunnova

Energy

International

Inc

(d),(e)

5,742‌

101‌

Verde

Clean

Fuels

Inc

(d),(e)

454‌

2‌

$

3,591‌

Engineering

&

Construction

-

0

.59

%

908

Devices

Inc

(d)

2,327‌

16‌

Arcosa

Inc

5,358‌

414‌

Concrete

Pumping

Holdings

Inc

(d)

1,151‌

9‌

Fluor

Corp

(d)

69,794‌

2,162‌

Granite

Construction

Inc

4,202‌

172‌

Great

Lakes

Dredge

&

Dock

Corp

(d)

7,236‌

61‌

INNOVATE

Corp

(d)

4,005‌

7‌

Iteris

Inc

(d)

2,079‌

9‌

Latham

Group

Inc

(d)

376,823‌

1,484‌

Limbach

Holdings

Inc

(d)

795‌

21‌

Mistras

Group

Inc

(d)

2,210‌

17‌

NV5

Global

Inc

(d)

143‌

16‌

Primoris

Services

Corp

28,577‌

907‌

Southland

Holdings

Inc

(d)

376‌

3‌

Sterling

Infrastructure

Inc

(d)

396‌

24‌

Tutor

Perini

Corp

(d)

273,209‌

2,309‌

$

7,631‌

Entertainment

-

2

.21

%

Bally's

Corp

(d)

300,124‌

4,886‌

Cinemark

Holdings

Inc

(d)

2,032‌

34‌

Everi

Holdings

Inc

(d)

524,339‌

7,782‌

International

Game

Technology

PLC

418,488‌

14,157‌

Light

&

Wonder

Inc

(d)

5,356‌

377‌

Lions

Gate

Entertainment

Corp

-

A

shares

(d)

1,980‌

15‌

Lions

Gate

Entertainment

Corp

-

B

shares

(d)

4,093‌

30‌

Madison

Square

Garden

Entertainment

Corp

(d)

670‌

23‌

Red

Rock

Resorts

Inc

2,428‌

118‌

Reservoir

Media

Inc

(d),(e)

2,106‌

12‌

SeaWorld

Entertainment

Inc

(d)

10,515‌

582‌

Six

Flags

Entertainment

Corp

(d)

25,356‌

606‌

Sphere

Entertainment

Co

(d)

2,884‌

122‌

$

28,744‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

239

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Environmental

Control

-

0

.03

%

CECO

Environmental

Corp

(d)

3,279‌

$

40‌

Enviri

Corp

(d)

8,798‌

83‌

Heritage-Crystal

Clean

Inc

(d)

1,458‌

67‌

Li-Cycle

Holdings

Corp

(d),(e)

15,218‌

92‌

PureCycle

Technologies

Inc

(d),(e)

9,983‌

118‌

$

400‌

Food

-

0

.74

%

B&G

Foods

Inc

(e)

107,048‌

1,419‌

Cal-Maine

Foods

Inc

12,555‌

580‌

Hain

Celestial

Group

Inc/The

(d)

9,868‌

125‌

HF

Foods

Group

Inc

(d)

4,247‌

22‌

Hostess

Brands

Inc

(d)

11,933‌

287‌

Ingles

Markets

Inc

1,558‌

132‌

Krispy

Kreme

Inc

(e)

6,572‌

101‌

Mission

Produce

Inc

(d)

4,597‌

53‌

Nathan's

Famous

Inc

27‌

2‌

Natural

Grocers

by

Vitamin

Cottage

Inc

48,190‌

600‌

Performance

Food

Group

Co

(d)

94,865‌

5,669‌

Seneca

Foods

Corp

-

Class

A

(d)

549‌

21‌

SpartanNash

Co

3,855‌

87‌

SunOpta

Inc

(d)

520‌

4‌

TreeHouse

Foods

Inc

(d)

5,000‌

258‌

United

Natural

Foods

Inc

(d)

6,542‌

136‌

Village

Super

Market

Inc

923‌

22‌

Weis

Markets

Inc

1,825‌

121‌

$

9,639‌

Forest

Products

&

Paper

-

0

.23

%

Glatfelter

Corp

(d)

4,700‌

16‌

Mercer

International

Inc

260,200‌

2,316‌

Sylvamo

Corp

14,700‌

721‌

$

3,053‌

Gas

-

2

.07

%

Brookfield

Infrastructure

Corp

9,814‌

459‌

Chesapeake

Utilities

Corp

695‌

82‌

New

Jersey

Resources

Corp

5,111‌

228‌

Northwest

Natural

Holding

Co

51,768‌

2,225‌

ONE

Gas

Inc

32,094‌

2,539‌

RGC

Resources

Inc

805‌

16‌

Southwest

Gas

Holdings

Inc

157,581‌

10,391‌

Spire

Inc

174,389‌

11,086‌

$

27,026‌

Hand

&

Machine

Tools

-

0

.80

%

Enerpac

Tool

Group

Corp

48,300‌

1,327‌

Franklin

Electric

Co

Inc

89,260‌

8,821‌

Kennametal

Inc

8,903‌

271‌

Luxfer

Holdings

PLC

3,031‌

39‌

$

10,458‌

Healthcare

-

Products

-

0

.82

%

Accuray

Inc

(d)

513‌

2‌

Adaptive

Biotechnologies

Corp

(d)

3,220‌

27‌

Alphatec

Holdings

Inc

(d)

5,017‌

89‌

AngioDynamics

Inc

(d)

4,171‌

36‌

Artivion

Inc

(d)

3,688‌

64‌

AtriCure

Inc

(d)

1,445‌

80‌

Avanos

Medical

Inc

(d)

5,109‌

125‌

Avantor

Inc

(d)

359,860‌

7,402‌

BioLife

Solutions

Inc

(d)

322‌

6‌

Butterfly

Network

Inc

(d),(e)

15,390‌

40‌

CareDx

Inc

(d)

5,742‌

63‌

Castle

Biosciences

Inc

(d)

1,622‌

27‌

ClearPoint

Neuro

Inc

(d)

149‌

1‌

Cutera

Inc

(d)

1,548‌

31‌

CVRx

Inc

(d)

149‌

3‌

Embecta

Corp

5,695‌

121‌

Inari

Medical

Inc

(d)

385‌

22‌

Inogen

Inc

(d)

2,473‌

20‌

Integer

Holdings

Corp

(d)

3,668‌

339‌

LivaNova

PLC

(d)

5,604‌

328‌

MaxCyte

Inc

(d)

8,965‌

40‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Products

(continued)

MiMedx

Group

Inc

(d)

12,634‌

$

102‌

NanoString

Technologies

Inc

(d)

571‌

3‌

Nautilus

Biotechnology

Inc

(d)

5,274‌

17‌

Neogen

Corp

(d)

24,031‌

557‌

Nevro

Corp

(d)

2,586‌

65‌

NuVasive

Inc

(d)

845‌

35‌

OmniAb

Inc

(d)

10,283‌

57‌

Omnicell

Inc

(d)

2,508‌

158‌

OraSure

Technologies

Inc

(d)

8,041‌

38‌

Orthofix

Medical

Inc

(d)

3,843‌

76‌

OrthoPediatrics

Corp

(d)

196‌

8‌

Pacific

Biosciences

of

California

Inc

(d)

12,565‌

166‌

Patterson

Cos

Inc

7,620‌

251‌

Pulse

Biosciences

Inc

(d)

1,274‌

10‌

Quanterix

Corp

(d)

3,297‌

82‌

Quantum-Si

Inc

(d)

10,908‌

42‌

SomaLogic

Inc

(d)

16,665‌

41‌

Utah

Medical

Products

Inc

26‌

3‌

Varex

Imaging

Corp

(d)

4,330‌

101‌

Vicarious

Surgical

Inc

(d)

3,926‌

6‌

Zimvie

Inc

(d)

2,854‌

39‌

$

10,723‌

Healthcare

-

Services

-

1

.47

%

23andMe

Holding

Co

(d)

28,660‌

55‌

Accolade

Inc

(d)

392‌

6‌

Addus

HomeCare

Corp

(d)

918‌

84‌

Agiliti

Inc

(d)

394‌

7‌

Amedisys

Inc

(d)

60,170‌

5,466‌

American

Well

Corp

(d)

27,042‌

66‌

Aveanna

Healthcare

Holdings

Inc

(d)

4,101‌

7‌

Brookdale

Senior

Living

Inc

(d)

18,803‌

66‌

Cano

Health

Inc

(d)

24,378‌

36‌

CareMax

Inc

(d)

7,979‌

19‌

Community

Health

Systems

Inc

(d)

13,998‌

61‌

Enhabit

Inc

(d)

5,556‌

76‌

Fulgent

Genetics

Inc

(d)

2,265‌

88‌

Invitae

Corp

(d),(e)

3,795‌

5‌

LifeStance

Health

Group

Inc

(d)

5,342‌

50‌

Nano-X

Imaging

Ltd

(d),(e)

4,524‌

56‌

National

HealthCare

Corp

23,985‌

1,416‌

OPKO

Health

Inc

(d)

44,467‌

83‌

Oscar

Health

Inc

(d)

15,744‌

118‌

Pediatrix

Medical

Group

Inc

(d)

9,284‌

128‌

Select

Medical

Holdings

Corp

48,900‌

1,468‌

Surgery

Partners

Inc

(d)

672‌

26‌

Tenet

Healthcare

Corp

(d)

130,925‌

9,784‌

Thorne

HealthTech

Inc

(d)

672‌

4‌

$

19,175‌

Home

Builders

-

3

.11

%

Beazer

Homes

USA

Inc

(d)

3,258‌

110‌

Century

Communities

Inc

23,087‌

1,783‌

Dream

Finders

Homes

Inc

(d),(e)

1,593‌

41‌

Forestar

Group

Inc

(d)

2,027‌

60‌

Green

Brick

Partners

Inc

(d)

11,863‌

671‌

Hovnanian

Enterprises

Inc

(d)

536‌

57‌

Installed

Building

Products

Inc

96,115‌

14,227‌

KB

Home

32,480‌

1,752‌

Landsea

Homes

Corp

(d)

1,426‌

14‌

LCI

Industries

1,703‌

232‌

LGI

Homes

Inc

(d)

2,128‌

295‌

M/I

Homes

Inc

(d)

18,570‌

1,857‌

MDC

Holdings

Inc

6,483‌

332‌

Meritage

Homes

Corp

52,133‌

7,765‌

Skyline

Champion

Corp

(d)

109,127‌

7,602‌

Taylor

Morrison

Home

Corp

(d)

38,199‌

1,849‌

Tri

Pointe

Homes

Inc

(d)

50,079‌

1,597‌

United

Homes

Group

Inc

(d)

651‌

7‌

Winnebago

Industries

Inc

3,279‌

226‌

$

40,477‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

240

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Home

Furnishings

-

0

.39

%

Daktronics

Inc

(d)

4,146‌

$

30‌

Ethan

Allen

Interiors

Inc

2,539‌

80‌

Hooker

Furnishings

Corp

57,745‌

1,158‌

iRobot

Corp

(d)

276‌

11‌

MillerKnoll

Inc

150,583‌

2,947‌

Purple

Innovation

Inc

6,596‌

21‌

Sleep

Number

Corp

(d)

24,214‌

671‌

Snap

One

Holdings

Corp

(d)

2,020‌

20‌

Traeger

Inc

(d)

3,532‌

16‌

Vizio

Holding

Corp

(d)

876‌

6‌

VOXX

International

Corp

(d)

1,474‌

14‌

Xperi

Inc

(d)

4,672‌

61‌

$

5,035‌

Insurance

-

4

.72

%

Ambac

Financial

Group

Inc

(d)

82,860‌

1,172‌

American

Equity

Investment

Life

Holding

Co

25,393‌

1,363‌

AMERISAFE

Inc

1,036‌

54‌

Argo

Group

International

Holdings

Ltd

3,562‌

106‌

Assured

Guaranty

Ltd

37,300‌

2,230‌

Axis

Capital

Holdings

Ltd

26,500‌

1,461‌

Brighthouse

Financial

Inc

(d)

22,800‌

1,189‌

CNO

Financial

Group

Inc

101,425‌

2,609‌

Donegal

Group

Inc

1,675‌

24‌

eHealth

Inc

(d)

1,710‌

13‌

Employers

Holdings

Inc

56,827‌

2,195‌

Enstar

Group

Ltd

(d)

9,090‌

2,326‌

Essent

Group

Ltd

62,585‌

3,105‌

F&G

Annuities

&

Life

Inc

1,953‌

51‌

First

American

Financial

Corp

173,785‌

11,015‌

Genworth

Financial

Inc

(d)

53,584‌

314‌

GoHealth

Inc

(d)

414‌

8‌

Greenlight

Capital

Re

Ltd

(d)

2,930‌

30‌

Hanover

Insurance

Group

Inc/The

9,800‌

1,112‌

Hippo

Holdings

Inc

(d)

1,113‌

19‌

Horace

Mann

Educators

Corp

72,621‌

2,188‌

Investors

Title

Co

114‌

18‌

Jackson

Financial

Inc

8,983‌

297‌

James

River

Group

Holdings

Ltd

4,123‌

76‌

Kemper

Corp

42,600‌

2,171‌

Lemonade

Inc

(d),(e)

4,664‌

108‌

Lincoln

National

Corp

39,800‌

1,116‌

Maiden

Holdings

Ltd

(d)

9,637‌

19‌

MBIA

Inc

(d)

5,383‌

47‌

Mercury

General

Corp

35,264‌

1,134‌

MGIC

Investment

Corp

114,200‌

1,912‌

National

Western

Life

Group

Inc

931‌

392‌

NI

Holdings

Inc

(d)

877‌

12‌

NMI

Holdings

Inc

(d)

99,335‌

2,654‌

ProAssurance

Corp

64,065‌

1,076‌

Safety

Insurance

Group

Inc

15,800‌

1,137‌

Selective

Insurance

Group

Inc

83,780‌

8,645‌

Selectquote

Inc

(d)

503,203‌

951‌

SiriusPoint

Ltd

(d)

232,810‌

2,174‌

Skyward

Specialty

Insurance

Group

Inc

(d)

796‌

19‌

Stewart

Information

Services

Corp

50,259‌

2,368‌

Tiptree

Inc

1,930‌

29‌

United

Fire

Group

Inc

15,513‌

373‌

United

Insurance

Holdings

Corp

(d)

2,080‌

11‌

Universal

Insurance

Holdings

Inc

2,191‌

34‌

White

Mountains

Insurance

Group

Ltd

1,400‌

2,166‌

$

61,523‌

Internet

-

0

.30

%

1-800-Flowers.com

Inc

(d)

2,711‌

24‌

Allbirds

Inc

(d)

10,094‌

15‌

BARK

Inc

(d)

11,627‌

17‌

Blade

Air

Mobility

Inc

(d),(e)

6,265‌

26‌

Bumble

Inc

(d)

11,211‌

208‌

Cogent

Communications

Holdings

Inc

1,779‌

109‌

ContextLogic

Inc

(d),(e)

2,343‌

22‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Internet

(continued)

DHI

Group

Inc

(d)

4,625‌

$

17‌

ePlus

Inc

(d)

28,301‌

1,595‌

Eventbrite

Inc

(d)

789‌

9‌

EverQuote

Inc

(d)

181‌

1‌

Figs

Inc

(d)

1,589‌

12‌

fuboTV

Inc

(d)

22,444‌

76‌

HealthStream

Inc

1,599‌

36‌

Lands'

End

Inc

(d)

1,594‌

15‌

Liquidity

Services

Inc

(d)

1,037‌

17‌

Magnite

Inc

(d)

8,512‌

129‌

MediaAlpha

Inc

(d)

474‌

5‌

Mondee

Holdings

Inc

(d),(e)

677‌

6‌

Nextdoor

Holdings

Inc

(d)

6,226‌

19‌

Open

Lending

Corp

(d)

833‌

9‌

Opendoor

Technologies

Inc

(d),(e)

56,987‌

291‌

Overstock.com

Inc

(d)

4,982‌

182‌

Revolve

Group

Inc

(d)

28,200‌

556‌

Solo

Brands

Inc

(d)

594‌

3‌

Squarespace

Inc

(d)

3,435‌

114‌

Stitch

Fix

Inc

(d)

4,685‌

24‌

TrueCar

Inc

(d)

9,145‌

22‌

Tucows

Inc

(d)

630‌

19‌

Vivid

Seats

Inc

(d)

1,868‌

16‌

Ziff

Davis

Inc

(d)

3,998‌

290‌

$

3,884‌

Investment

Companies

-

0

.03

%

Cannae

Holdings

Inc

(d)

7,900‌

161‌

Compass

Diversified

Holdings

6,936‌

156‌

FTAI

Infrastructure

Inc

10,915‌

39‌

$

356‌

Iron

&

Steel

-

0

.09

%

Carpenter

Technology

Corp

5,320‌

318‌

Commercial

Metals

Co

12,928‌

740‌

Haynes

International

Inc

1,392‌

70‌

Schnitzer

Steel

Industries

Inc

2,860‌

104‌

$

1,232‌

Leisure

Products

&

Services

-

0

.40

%

Bowlero

Corp

(d)

456‌

5‌

Clarus

Corp

(e)

2,864‌

25‌

Escalade

Inc

1,003‌

15‌

Johnson

Outdoors

Inc

34,188‌

2,021‌

Liberty

TripAdvisor

Holdings

Inc

(d)

25‌

1‌

Life

Time

Group

Holdings

Inc

(d)

3,406‌

62‌

Lindblad

Expeditions

Holdings

Inc

(d)

3,514‌

42‌

Malibu

Boats

Inc

(d)

865‌

52‌

Topgolf

Callaway

Brands

Corp

(d)

15,878‌

317‌

Virgin

Galactic

Holdings

Inc

(d),(e)

12,205‌

52‌

Vista

Outdoor

Inc

(d)

87,261‌

2,644‌

Xponential

Fitness

Inc

(d)

384‌

8‌

$

5,244‌

Lodging

-

0

.13

%

Bluegreen

Vacations

Holding

Corp

229‌

9‌

Century

Casinos

Inc

(d)

403‌

3‌

Full

House

Resorts

Inc

(d)

468‌

3‌

Marcus

Corp/The

2,680‌

42‌

Travel

+

Leisure

Co

40,200‌

1,637‌

$

1,694‌

Machinery

-

Construction

&

Mining

-

0

.04

%

Argan

Inc

1,422‌

54‌

Astec

Industries

Inc

2,515‌

124‌

Babcock

&

Wilcox

Enterprises

Inc

(d)

5,884‌

32‌

Manitowoc

Co

Inc/The

(d)

3,892‌

71‌

Terex

Corp

3,120‌

183‌

$

464‌

Machinery

-

Diversified

-

2

.61

%

Alamo

Group

Inc

53,250‌

10,318‌

Albany

International

Corp

446‌

43‌

Chart

Industries

Inc

(d)

1,802‌

328‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

241

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Machinery

-

Diversified

(continued)

CIRCOR

International

Inc

(d)

211‌

$

12‌

Columbus

McKinnon

Corp/NY

42,043‌

1,780‌

DXP

Enterprises

Inc/TX

(d)

1,599‌

61‌

Eastman

Kodak

Co

(d)

6,395‌

35‌

Flowserve

Corp

60,300‌

2,277‌

Gates

Industrial

Corp

PLC

(d)

109,100‌

1,486‌

Gencor

Industries

Inc

(d)

1,117‌

17‌

Gorman-Rupp

Co/The

1,975‌

63‌

GrafTech

International

Ltd

315,122‌

1,664‌

Ichor

Holdings

Ltd

(d)

199,890‌

7,740‌

Intevac

Inc

(d)

2,708‌

10‌

Mueller

Water

Products

Inc

-

Class

A

96,800‌

1,557‌

Tennant

Co

973‌

78‌

Thermon

Group

Holdings

Inc

(d)

62,059‌

1,713‌

Watts

Water

Technologies

Inc

23,575‌

4,397‌

Zurn

Elkay

Water

Solutions

Corp

13,078‌

398‌

$

33,977‌

Media

-

1

.20

%

AMC

Networks

Inc

(d)

3,392‌

43‌

EW

Scripps

Co/The

(d)

3,478‌

34‌

Gannett

Co

Inc

(d)

15,850‌

45‌

Gray

Television

Inc

361,944‌

3,428‌

iHeartMedia

Inc

(d)

11,329‌

53‌

Liberty

Latin

America

Ltd

-

Class

A

(d)

4,005‌

34‌

Liberty

Latin

America

Ltd

-

Class

C

(d)

15,871‌

132‌

Scholastic

Corp

3,163‌

137‌

Sinclair

Inc

3,266‌

45‌

TEGNA

Inc

683,241‌

11,547‌

Thryv

Holdings

Inc

(d)

3,424‌

81‌

Urban

One

Inc

(d)

881‌

5‌

Urban

One

Inc

(d)

1,367‌

8‌

Value

Line

Inc

8‌

—‌

WideOpenWest

Inc

(d)

5,674‌

47‌

$

15,639‌

Metal

Fabrication

&

Hardware

-

1

.78

%

Advanced

Drainage

Systems

Inc

72,430‌

8,836‌

AZZ

Inc

52,553‌

2,330‌

Hillman

Solutions

Corp

(d)

19,037‌

187‌

Janus

International

Group

Inc

(d)

522,655‌

5,969‌

Mayville

Engineering

Co

Inc

(d)

1,067‌

13‌

Mueller

Industries

Inc

23,206‌

1,881‌

Northwest

Pipe

Co

(d)

1,091‌

35‌

Olympic

Steel

Inc

9,079‌

506‌

Park-Ohio

Holdings

Corp

889‌

17‌

Proto

Labs

Inc

(d)

19,614‌

650‌

Ryerson

Holding

Corp

2,324‌

99‌

Standex

International

Corp

254‌

38‌

TimkenSteel

Corp

(d)

4,802‌

112‌

Tredegar

Corp

210,909‌

1,459‌

Worthington

Industries

Inc

13,303‌

993‌

Xometry

Inc

(d)

3,326‌

69‌

$

23,194‌

Mining

-

0

.48

%

5E

Advanced

Materials

Inc

(d)

562‌

2‌

Arconic

Corp

(d)

60,216‌

1,800‌

Caledonia

Mining

Corp

PLC

(e)

1,741‌

20‌

Centrus

Energy

Corp

(d)

1,361‌

51‌

Coeur

Mining

Inc

(d)

35,246‌

109‌

Compass

Minerals

International

Inc

46,000‌

1,742‌

Constellium

SE

(d)

5,342‌

102‌

Contango

ORE

Inc

(d)

202‌

4‌

Dakota

Gold

Corp

(d)

1,865‌

5‌

Encore

Energy

Corp

(d)

15,613‌

39‌

Energy

Fuels

Inc/Canada

(d),(e)

2,303‌

15‌

Hecla

Mining

Co

52,342‌

301‌

i-80

Gold

Corp

(d)

19,912‌

41‌

Kaiser

Aluminum

Corp

21,231‌

1,724‌

Lifezone

Metals

Ltd

(d)

5,900‌

71‌

Piedmont

Lithium

Inc

(d)

1,314‌

72‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Mining

(continued)

PolyMet

Mining

Corp

(d)

3,627‌

$

8‌

Uranium

Energy

Corp

(d)

40,568‌

146‌

$

6,252‌

Miscellaneous

Manufacturers

-

1

.71

%

AMMO

Inc

(d),(e)

9,747‌

20‌

Chase

Corp

4,428‌

558‌

Core

Molding

Technologies

Inc

(d)

759‌

18‌

EnPro

Industries

Inc

2,319‌

322‌

Fabrinet

(d)

105,614‌

13,058‌

Federal

Signal

Corp

71,340‌

4,358‌

Hillenbrand

Inc

41,900‌

2,176‌

LSB

Industries

Inc

(d)

6,067‌

68‌

Myers

Industries

Inc

74,000‌

1,451‌

NL

Industries

Inc

795‌

5‌

Park

Aerospace

Corp

2,199‌

32‌

Smith

&

Wesson

Brands

Inc

5,050‌

64‌

Sturm

Ruger

&

Co

Inc

138‌

8‌

Trinity

Industries

Inc

7,334‌

192‌

$

22,330‌

Office

&

Business

Equipment

-

0

.01

%

Xerox

Holdings

Corp

12,667‌

202‌

Office

Furnishings

-

0

.15

%

CompX

International

Inc

151‌

3‌

HNI

Corp

4,616‌

134‌

Interface

Inc

182,628‌

1,784‌

Steelcase

Inc

9,747‌

84‌

$

2,005‌

Oil

&

Gas

-

5

.95

%

Amplify

Energy

Corp

(d)

3,851‌

28‌

Antero

Resources

Corp

(d)

125,200‌

3,349‌

Baytex

Energy

Corp

598,971‌

2,420‌

Berry

Corp

300,917‌

2,347‌

California

Resources

Corp

51,829‌

2,765‌

Callon

Petroleum

Co

(d)

6,762‌

254‌

Chord

Energy

Corp

62,124‌

9,744‌

Civitas

Resources

Inc

7,644‌

572‌

CNX

Resources

Corp

(d)

18,015‌

367‌

Comstock

Resources

Inc

138,792‌

1,769‌

Crescent

Energy

Co

(e)

203,868‌

2,420‌

CVR

Energy

Inc

272‌

10‌

Delek

US

Holdings

Inc

7,340‌

203‌

Diamond

Offshore

Drilling

Inc

(d)

11,228‌

178‌

Earthstone

Energy

Inc

(d)

6,303‌

101‌

Granite

Ridge

Resources

Inc

2,757‌

20‌

Gulfport

Energy

Corp

(d)

1,113‌

114‌

Helmerich

&

Payne

Inc

11,088‌

496‌

HighPeak

Energy

Inc

(e)

181‌

3‌

Kosmos

Energy

Ltd

(d)

335,821‌

2,384‌

Magnolia

Oil

&

Gas

Corp

1,245‌

28‌

Matador

Resources

Co

10,290‌

572‌

Murphy

Oil

Corp

181,544‌

7,856‌

Nabors

Industries

Ltd

(d)

94‌

12‌

Noble

Corp

PLC

2,039‌

107‌

Northern

Oil

and

Gas

Inc

60,194‌

2,370‌

Par

Pacific

Holdings

Inc

(d)

64,660‌

2,035‌

Patterson-UTI

Energy

Inc

539,492‌

8,545‌

PBF

Energy

Inc

12,842‌

609‌

PDC

Energy

Inc

113,335‌

8,601‌

Permian

Resources

Corp

631,236‌

7,379‌

Precision

Drilling

Corp

(d)

37,800‌

2,512‌

PrimeEnergy

Resources

Corp

(d)

75‌

7‌

Ring

Energy

Inc

(d),(e)

12,735‌

31‌

SandRidge

Energy

Inc

3,525‌

60‌

Seadrill

Ltd

(d)

5,578‌

273‌

SilverBow

Resources

Inc

(d)

1,748‌

63‌

Sitio

Royalties

Corp

4,982‌

136‌

SM

Energy

Co

13,246‌

481‌

Talos

Energy

Inc

(d)

153,035‌

2,448‌

Tellurian

Inc

(d)

55,389‌

95‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

242

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Oil

&

Gas

(continued)

VAALCO

Energy

Inc

10,580‌

$

47‌

Vertex

Energy

Inc

(d),(e)

235,800‌

1,243‌

Vital

Energy

Inc

(d)

45,969‌

2,427‌

Vitesse

Energy

Inc

2,769‌

70‌

$

77,551‌

Oil

&

Gas

Services

-

1

.49

%

Archrock

Inc

12,597‌

147‌

Aris

Water

Solutions

Inc

3,076‌

34‌

Atlas

Energy

Solutions

Inc

(e)

1,429‌

28‌

Bristow

Group

Inc

(d)

2,621‌

81‌

Core

Laboratories

Inc

3,521‌

91‌

DMC

Global

Inc

(d)

1,473‌

28‌

Dril-Quip

Inc

(d)

91,456‌

2,368‌

Expro

Group

Holdings

NV

(d)

101,377‌

2,249‌

Forum

Energy

Technologies

Inc

(d)

46,539‌

1,266‌

Helix

Energy

Solutions

Group

Inc

(d)

209,612‌

2,013‌

KLX

Energy

Services

Holdings

Inc

(d)

1,205‌

14‌

Liberty

Energy

Inc

123,427‌

2,033‌

Mammoth

Energy

Services

Inc

(d)

2,472‌

12‌

National

Energy

Services

Reunited

Corp

(d)

213,300‌

693‌

Newpark

Resources

Inc

(d)

325,379‌

1,796‌

NexTier

Oilfield

Solutions

Inc

(d)

161,177‌

1,921‌

NOW

Inc

(d)

61,310‌

698‌

Oil

States

International

Inc

(d)

7,050‌

57‌

ProFrac

Holding

Corp

(d)

1,970‌

25‌

ProPetro

Holding

Corp

(d)

171,380‌

1,790‌

Ranger

Energy

Services

Inc

1,648‌

17‌

RPC

Inc

9,383‌

78‌

Select

Water

Solutions

Inc

9,397‌

79‌

Solaris

Oilfield

Infrastructure

Inc

159,661‌

1,746‌

US

Silica

Holdings

Inc

(d)

8,319‌

108‌

$

19,372‌

Packaging

&

Containers

-

0

.16

%

Clearwater

Paper

Corp

(d)

1,879‌

61‌

Greif

Inc

-

Class

A

2,737‌

202‌

Greif

Inc

-

Class

B

575‌

45‌

O-I

Glass

Inc

(d)

2,544‌

58‌

Pactiv

Evergreen

Inc

4,423‌

38‌

Ranpak

Holdings

Corp

(d)

4,817‌

31‌

TriMas

Corp

63,182‌

1,628‌

$

2,063‌

Pharmaceuticals

-

0

.98

%

AdaptHealth

Corp

(d)

3,928‌

54‌

Agios

Pharmaceuticals

Inc

(d)

6,112‌

162‌

Amneal

Pharmaceuticals

Inc

(d)

13,440‌

43‌

Anika

Therapeutics

Inc

(d)

1,602‌

37‌

Arvinas

Inc

(d)

269‌

7‌

Assertio

Holdings

Inc

(d)

9,781‌

56‌

BellRing

Brands

Inc

(d)

10,843‌

390‌

Beyond

Air

Inc

(d)

349‌

1‌

Biote

Corp

(d)

799‌

5‌

Citius

Pharmaceuticals

Inc

(d)

11,623‌

11‌

Coherus

Biosciences

Inc

(d)

1,485‌

7‌

CorMedix

Inc

(d),(e)

340‌

1‌

Eagle

Pharmaceuticals

Inc/DE

(d)

1,096‌

23‌

Enanta

Pharmaceuticals

Inc

(d)

1,933‌

37‌

Enliven

Therapeutics

Inc

(d)

2,578‌

49‌

Fennec

Pharmaceuticals

Inc

(d)

1,432‌

13‌

Gritstone

bio

Inc

(d)

9,316‌

18‌

Herbalife

Ltd

(d)

103,318‌

1,677‌

Heron

Therapeutics

Inc

(d)

855‌

1‌

Immuneering

Corp

(d)

506‌

5‌

Ironwood

Pharmaceuticals

Inc

(d)

195,981‌

2,174‌

KalVista

Pharmaceuticals

Inc

(d)

2,700‌

27‌

Kura

Oncology

Inc

(d)

7,281‌

76‌

Longboard

Pharmaceuticals

Inc

(d)

1,082‌

8‌

Lyell

Immunopharma

Inc

(d)

19,365‌

56‌

MannKind

Corp

(d)

5,072‌

23‌

Morphic

Holding

Inc

(d)

370‌

21‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Nature's

Sunshine

Products

Inc

(d)

1,400‌

$

20‌

ORIC

Pharmaceuticals

Inc

(d)

4,307‌

36‌

Owens

&

Minor

Inc

(d)

8,194‌

158‌

PetIQ

Inc

(d)

476‌

8‌

Phibro

Animal

Health

Corp

73,647‌

1,066‌

PMV

Pharmaceuticals

Inc

(d)

4,094‌

27‌

Premier

Inc

73,200‌

2,031‌

Prestige

Consumer

Healthcare

Inc

(d)

5,501‌

359‌

Protagonist

Therapeutics

Inc

(d)

2,231‌

43‌

Reata

Pharmaceuticals

Inc

(d)

3,155‌

522‌

Reneo

Pharmaceuticals

Inc

(d)

355‌

3‌

Seres

Therapeutics

Inc

(d)

3,448‌

17‌

SIGA

Technologies

Inc

59,900‌

344‌

Taro

Pharmaceutical

Industries

Ltd

(d)

14,097‌

515‌

Trevi

Therapeutics

Inc

(d)

4,418‌

11‌

USANA

Health

Sciences

Inc

(d)

23,200‌

1,506‌

Vanda

Pharmaceuticals

Inc

(d)

192,734‌

1,114‌

Y-mAbs

Therapeutics

Inc

(d)

2,076‌

13‌

$

12,775‌

Pipelines

-

0

.35

%

Equitrans

Midstream

Corp

245,115‌

2,542‌

Excelerate

Energy

Inc

423‌

9‌

Golar

LNG

Ltd

10,466‌

252‌

Kinetik

Holdings

Inc

(e)

47,994‌

1,728‌

$

4,531‌

Private

Equity

-

0

.00

%

Chicago

Atlantic

Real

Estate

Finance

Inc

1,736‌

26‌

Real

Estate

-

0

.87

%

American

Realty

Investors

Inc

(d)

142‌

3‌

Angel

Oak

Mortgage

REIT

Inc

1,337‌

13‌

Anywhere

Real

Estate

Inc

(d)

10,780‌

90‌

Compass

Inc

(d)

4,535‌

19‌

Cushman

&

Wakefield

PLC

(d)

258,321‌

2,539‌

Douglas

Elliman

Inc

239,366‌

529‌

FRP

Holdings

Inc

(d)

754‌

43‌

Kennedy-Wilson

Holdings

Inc

13,223‌

218‌

Legacy

Housing

Corp

(d)

1,051‌

25‌

Marcus

&

Millichap

Inc

65,146‌

2,389‌

Maui

Land

&

Pineapple

Co

Inc

(d)

99‌

2‌

Newmark

Group

Inc

14,847‌

103‌

Radius

Global

Infrastructure

Inc

(d)

9,367‌

140‌

RE/MAX

Holdings

Inc

115,135‌

2,269‌

RMR

Group

Inc/The

38,391‌

906‌

Seritage

Growth

Properties

(d)

214,049‌

2,010‌

Star

Holdings

(d)

1,371‌

21‌

Stratus

Properties

Inc

598‌

17‌

Transcontinental

Realty

Investors

Inc

(d)

198‌

7‌

$

11,343‌

REITs

-

5

.42

%

Acadia

Realty

Trust

10,315‌

162‌

AFC

Gamma

Inc

1,806‌

25‌

Alexander

&

Baldwin

Inc

8,006‌

154‌

Alexander's

Inc

9,200‌

1,779‌

Alpine

Income

Property

Trust

Inc

1,381‌

23‌

American

Assets

Trust

Inc

5,390‌

121‌

Apartment

Investment

and

Management

Co

16,366‌

136‌

Apollo

Commercial

Real

Estate

Finance

Inc

109,555‌

1,293‌

Apple

Hospitality

REIT

Inc

23,792‌

369‌

Arbor

Realty

Trust

Inc

19,805‌

335‌

Ares

Commercial

Real

Estate

Corp

5,749‌

61‌

Armada

Hoffler

Properties

Inc

7,519‌

93‌

ARMOUR

Residential

REIT

Inc

21,640‌

111‌

Blackstone

Mortgage

Trust

Inc

19,013‌

437‌

Braemar

Hotels

&

Resorts

Inc

265,304‌

982‌

Brandywine

Realty

Trust

19,000‌

96‌

BrightSpire

Capital

Inc

87,313‌

643‌

Broadstone

Net

Lease

Inc

20,742‌

338‌

BRT

Apartments

Corp

1,295‌

25‌

CareTrust

REIT

Inc

10,039‌

209‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

243

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

CBL

&

Associates

Properties

Inc

712‌

$

15‌

Centerspace

1,693‌

105‌

Chatham

Lodging

Trust

5,371‌

52‌

Chimera

Investment

Corp

25,686‌

161‌

City

Office

REIT

Inc

4,071‌

22‌

Claros

Mortgage

Trust

Inc

54,117‌

666‌

Clipper

Realty

Inc

188‌

1‌

Community

Healthcare

Trust

Inc

943‌

33‌

Corporate

Office

Properties

Trust

12,444‌

324‌

CTO

Realty

Growth

Inc

2,513‌

44‌

DiamondRock

Hospitality

Co

23,200‌

197‌

Diversified

Healthcare

Trust

26,616‌

56‌

Douglas

Emmett

Inc

18,758‌

276‌

Dynex

Capital

Inc

5,911‌

77‌

Easterly

Government

Properties

Inc

10,210‌

151‌

Ellington

Financial

Inc

7,209‌

97‌

Elme

Communities

9,700‌

158‌

Empire

State

Realty

Trust

Inc

300,475‌

2,689‌

Equity

Commonwealth

328,422‌

6,434‌

Essential

Properties

Realty

Trust

Inc

14,615‌

359‌

Farmland

Partners

Inc

5,592‌

64‌

Four

Corners

Property

Trust

Inc

8,506‌

224‌

Franklin

BSP

Realty

Trust

Inc

9,176‌

131‌

Getty

Realty

Corp

4,951‌

160‌

Gladstone

Commercial

Corp

3,661‌

49‌

Gladstone

Land

Corp

3,702‌

62‌

Global

Medical

REIT

Inc

6,837‌

68‌

Global

Net

Lease

Inc

11,538‌

123‌

Granite

Point

Mortgage

Trust

Inc

199,388‌

1,142‌

Great

Ajax

Corp

72,553‌

501‌

Hersha

Hospitality

Trust

3,376‌

21‌

Hudson

Pacific

Properties

Inc

15,235‌

89‌

Independence

Realty

Trust

Inc

24,896‌

424‌

Innovative

Industrial

Properties

Inc

3,086‌

244‌

InvenTrust

Properties

Corp

7,506‌

183‌

Invesco

Mortgage

Capital

Inc

4,633‌

56‌

JBG

SMITH

Properties

12,337‌

206‌

Kite

Realty

Group

Trust

24,023‌

550‌

KKR

Real

Estate

Finance

Trust

Inc

6,503‌

81‌

Ladder

Capital

Corp

12,498‌

137‌

LTC

Properties

Inc

4,530‌

152‌

LXP

Industrial

Trust

31,968‌

322‌

Macerich

Co/The

23,846‌

304‌

MFA

Financial

Inc

529,675‌

5,964‌

National

Health

Investors

Inc

4,160‌

228‌

National

Storage

Affiliates

Trust

282,005‌

9,529‌

Necessity

Retail

REIT

Inc/The

14,967‌

106‌

NETSTREIT

Corp

6,764‌

121‌

New

York

Mortgage

Trust

Inc

59,894‌

608‌

NexPoint

Diversified

Real

Estate

Trust

3,389‌

40‌

Nexpoint

Real

Estate

Finance

Inc

856‌

15‌

NexPoint

Residential

Trust

Inc

1,760‌

73‌

Office

Properties

Income

Trust

5,370‌

41‌

One

Liberty

Properties

Inc

1,793‌

37‌

Orchid

Island

Capital

Inc

4,347‌

45‌

Orion

Office

REIT

Inc

6,391‌

42‌

Outfront

Media

Inc

8,680‌

134‌

Paramount

Group

Inc

20,410‌

107‌

Park

Hotels

&

Resorts

Inc

160,800‌

2,192‌

Peakstone

Realty

Trust

3,073‌

78‌

Pebblebrook

Hotel

Trust

170,806‌

2,639‌

PennyMac

Mortgage

Investment

Trust

283,702‌

3,626‌

Phillips

Edison

&

Co

Inc

10,805‌

382‌

Physicians

Realty

Trust

26,259‌

387‌

Piedmont

Office

Realty

Trust

Inc

13,764‌

102‌

Plymouth

Industrial

REIT

Inc

4,742‌

108‌

Postal

Realty

Trust

Inc

2,073‌

31‌

PotlatchDeltic

Corp

8,733‌

468‌

Ready

Capital

Corp

17,672‌

204‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

Redwood

Trust

Inc

12,684‌

$

96‌

Retail

Opportunity

Investments

Corp

13,505‌

199‌

RLJ

Lodging

Trust

17,550‌

181‌

RPT

Realty

9,463‌

103‌

Sabra

Health

Care

REIT

Inc

25,539‌

332‌

Safehold

Inc

3,290‌

81‌

Saul

Centers

Inc

101‌

4‌

Service

Properties

Trust

18,196‌

154‌

SITE

Centers

Corp

21,032‌

295‌

SL

Green

Realty

Corp

7,270‌

274‌

STAG

Industrial

Inc

281,890‌

10,233‌

Summit

Hotel

Properties

Inc

11,731‌

76‌

Sunstone

Hotel

Investors

Inc

22,986‌

234‌

Tanger

Factory

Outlet

Centers

Inc

6,002‌

141‌

Terreno

Realty

Corp

9,033‌

536‌

TPG

RE

Finance

Trust

Inc

114,223‌

891‌

Two

Harbors

Investment

Corp

301,103‌

4,038‌

UMH

Properties

Inc

5,031‌

84‌

Uniti

Group

Inc

26,281‌

147‌

Urban

Edge

Properties

12,681‌

216‌

Urstadt

Biddle

Properties

Inc

3,156‌

72‌

Veris

Residential

Inc

8,733‌

163‌

Whitestone

REIT

5,370‌

55‌

Xenia

Hotels

&

Resorts

Inc

12,315‌

156‌

$

70,670‌

Retail

-

4

.91

%

Abercrombie

&

Fitch

Co

(d)

2,603‌

103‌

Advance

Auto

Parts

Inc

15,300‌

1,138‌

American

Eagle

Outfitters

Inc

15,627‌

220‌

America's

Car-Mart

Inc/TX

(d)

663‌

79‌

Asbury

Automotive

Group

Inc

(d)

9,368‌

2,113‌

Beacon

Roofing

Supply

Inc

(d)

143,883‌

12,327‌

Big

5

Sporting

Goods

Corp

2,309‌

22‌

Big

Lots

Inc

(e)

3,108‌

32‌

Biglari

Holdings

Inc

(d)

85‌

17‌

BJ's

Restaurants

Inc

(d)

939‌

35‌

Bloomin'

Brands

Inc

57,400‌

1,542‌

BlueLinx

Holdings

Inc

(d)

10,585‌

998‌

Brinker

International

Inc

(d)

36,577‌

1,437‌

Build-A-Bear

Workshop

Inc

306‌

8‌

Caleres

Inc

3,832‌

104‌

Carrols

Restaurant

Group

Inc

(d)

3,900‌

23‌

Carvana

Co

(d),(e)

5,931‌

273‌

Cato

Corp/The

86,248‌

733‌

Chico's

FAS

Inc

(d)

13,446‌

82‌

Children's

Place

Inc/The

(d)

1,321‌

42‌

Chuy's

Holdings

Inc

(d)

344‌

14‌

Clean

Energy

Fuels

Corp

(d)

18,710‌

92‌

Dave

&

Buster's

Entertainment

Inc

(d)

23,300‌

1,067‌

Denny's

Corp

(d)

97,505‌

1,146‌

Designer

Brands

Inc

120,849‌

1,202‌

Destination

XL

Group

Inc

(d)

6,431‌

33‌

Dine

Brands

Global

Inc

27,367‌

1,651‌

Duluth

Holdings

Inc

(d)

1,348‌

10‌

El

Pollo

Loco

Holdings

Inc

109,462‌

1,166‌

EVgo

Inc

(d),(e)

6,544‌

29‌

Fiesta

Restaurant

Group

Inc

(d)

1,877‌

14‌

First

Watch

Restaurant

Group

Inc

(d)

940‌

18‌

Foot

Locker

Inc

9,035‌

243‌

Franchise

Group

Inc

(e)

128‌

4‌

Genesco

Inc

(d)

48,864‌

1,379‌

GMS

Inc

(d)

3,141‌

232‌

Group

1

Automotive

Inc

9,973‌

2,578‌

GrowGeneration

Corp

(d)

6,339‌

25‌

Guess?

Inc

2,818‌

59‌

Haverty

Furniture

Cos

Inc

57,120‌

2,034‌

Hibbett

Inc

41,003‌

1,902‌

J

Jill

Inc

(d)

481‌

11‌

Kohl's

Corp

43,000‌

1,223‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

244

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

La-Z-Boy

Inc

56,619‌

$

1,776‌

Lazydays

Holdings

Inc

(d)

1,343‌

18‌

Leslie's

Inc

(d),(e)

198,307‌

1,263‌

LL

Flooring

Holdings

Inc

(d)

309,400‌

1,216‌

Macy's

Inc

67,300‌

1,117‌

MarineMax

Inc

(d)

55,263‌

2,228‌

Movado

Group

Inc

1,696‌

49‌

National

Vision

Holdings

Inc

(d)

7,972‌

172‌

Nu

Skin

Enterprises

Inc

44,004‌

1,294‌

ODP

Corp/The

(d)

3,786‌

189‌

OneWater

Marine

Inc

(d)

61,479‌

2,315‌

Papa

John's

International

Inc

857‌

71‌

Patrick

Industries

Inc

2,073‌

179‌

PC

Connection

Inc

19,529‌

945‌

PetMed

Express

Inc

(e)

43,771‌

641‌

PriceSmart

Inc

851‌

66‌

RH

(d)

19,270‌

7,480‌

Sally

Beauty

Holdings

Inc

(d)

662‌

8‌

Shoe

Carnival

Inc

1,895‌

50‌

Signet

Jewelers

Ltd

29,223‌

2,352‌

Sonic

Automotive

Inc

45,737‌

2,190‌

Sportsman's

Warehouse

Holdings

Inc

(d)

4,026‌

25‌

Sweetgreen

Inc

(d)

1,999‌

30‌

Tile

Shop

Holdings

Inc

(d)

3,059‌

19‌

Tilly's

Inc

(d)

2,378‌

21‌

Vera

Bradley

Inc

(d)

2,783‌

19‌

Winmark

Corp

318‌

116‌

Zumiez

Inc

(d)

32,917‌

620‌

$

63,929‌

Savings

&

Loans

-

1

.41

%

Axos

Financial

Inc

(d)

5,527‌

260‌

Banc

of

California

Inc

6,026‌

86‌

Berkshire

Hills

Bancorp

Inc

4,868‌

111‌

Brookline

Bancorp

Inc

171,263‌

1,829‌

Capitol

Federal

Financial

Inc

178,300‌

1,182‌

ESSA

Bancorp

Inc

920‌

15‌

Flushing

Financial

Corp

113,818‌

1,796‌

FS

Bancorp

Inc

16,765‌

520‌

Greene

County

Bancorp

Inc

353‌

12‌

Hingham

Institution

For

Savings

The

(e)

169‌

38‌

Home

Bancorp

Inc

16,583‌

591‌

HomeTrust

Bancshares

Inc

1,332‌

32‌

Northfield

Bancorp

Inc

94,943‌

1,157‌

Northwest

Bancshares

Inc

14,061‌

174‌

OceanFirst

Financial

Corp

133,302‌

2,483‌

Pacific

Premier

Bancorp

Inc

58,899‌

1,504‌

Provident

Financial

Services

Inc

110,406‌

2,047‌

Southern

Missouri

Bancorp

Inc

9,152‌

440‌

Territorial

Bancorp

Inc

41,968‌

497‌

Timberland

Bancorp

Inc/WA

799‌

25‌

Washington

Federal

Inc

80,691‌

2,504‌

Waterstone

Financial

Inc

59,341‌

827‌

WSFS

Financial

Corp

6,761‌

296‌

$

18,426‌

Semiconductors

-

3

.40

%

ACM

Research

Inc

(d)

120,558‌

1,579‌

Alpha

&

Omega

Semiconductor

Ltd

(d)

2,563‌

84‌

Ambarella

Inc

(d)

1,568‌

131‌

Amkor

Technology

Inc

11,307‌

329‌

Atomera

Inc

(d)

644‌

6‌

CEVA

Inc

(d)

302‌

8‌

Cirrus

Logic

Inc

(d)

18,900‌

1,527‌

Cohu

Inc

(d)

5,156‌

225‌

Diodes

Inc

(d)

18,876‌

1,784‌

Kulicke

&

Soffa

Industries

Inc

1,829‌

110‌

MaxLinear

Inc

(d)

41,400‌

1,021‌

MKS

Instruments

Inc

85,400‌

9,323‌

Navitas

Semiconductor

Corp

(d)

9,479‌

100‌

Onto

Innovation

Inc

(d)

778‌

97‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

(continued)

Photronics

Inc

(d)

70,239‌

$

1,858‌

Rambus

Inc

(d)

257,390‌

16,115‌

Richardson

Electronics

Ltd/United

States

1,269‌

17‌

Semtech

Corp

(d)

91,257‌

2,665‌

SMART

Global

Holdings

Inc

(d)

4,178‌

111‌

Synaptics

Inc

(d)

4,005‌

362‌

Ultra

Clean

Holdings

Inc

(d)

174,406‌

6,645‌

Veeco

Instruments

Inc

(d)

5,614‌

158‌

Vishay

Precision

Group

Inc

(d)

1,399‌

52‌

$

44,307‌

Software

-

0

.68

%

ACI

Worldwide

Inc

(d)

93,545‌

2,169‌

Adeia

Inc

1,444‌

17‌

American

Software

Inc/GA

709‌

8‌

Asure

Software

Inc

(d)

1,648‌

23‌

Avid

Technology

Inc

(d)

1,126‌

27‌

AvidXchange

Holdings

Inc

(d)

1,349‌

17‌

Bandwidth

Inc

(d)

1,974‌

30‌

Brightcove

Inc

(d)

4,583‌

21‌

C3.ai

Inc

(d)

1,547‌

65‌

Cardlytics

Inc

(d)

3,585‌

42‌

Cerence

Inc

(d)

4,454‌

124‌

Climb

Global

Solutions

Inc

73‌

4‌

CommVault

Systems

Inc

(d)

267‌

21‌

Computer

Programs

and

Systems

Inc

(d)

17,366‌

455‌

Consensus

Cloud

Solutions

Inc

(d)

960‌

31‌

CoreCard

Corp

(d)

11,300‌

272‌

CS

Disco

Inc

(d)

2,397‌

23‌

Daily

Journal

Corp

(d)

127‌

37‌

Definitive

Healthcare

Corp

(d)

3,319‌

39‌

Digi

International

Inc

(d)

418‌

18‌

Digital

Turbine

Inc

(d)

7,730‌

84‌

Donnelley

Financial

Solutions

Inc

(d)

791‌

37‌

E2open

Parent

Holdings

Inc

(d)

22,002‌

113‌

Ebix

Inc

84,668‌

2,621‌

EverCommerce

Inc

(d)

540‌

6‌

Fastly

Inc

(d)

2,153‌

40‌

Health

Catalyst

Inc

(d)

2,820‌

40‌

HireRight

Holdings

Corp

(d)

1,591‌

17‌

Immersion

Corp

3,322‌

23‌

IonQ

Inc

(d)

14,950‌

288‌

Matterport

Inc

(d)

27,663‌

94‌

MeridianLink

Inc

(d)

893‌

20‌

N-able

Inc

(d)

743‌

10‌

NextGen

Healthcare

Inc

(d)

2,569‌

43‌

Olo

Inc

(d)

4,853‌

38‌

ON24

Inc

3,611‌

32‌

Outbrain

Inc

(d)

4,357‌

23‌

Planet

Labs

PBC

(d)

2,027‌

8‌

Playstudios

Inc

(d)

9,438‌

47‌

PROS

Holdings

Inc

(d)

1,403‌

53‌

PubMatic

Inc

(d)

3,916‌

78‌

Rackspace

Technology

Inc

(d)

8,368‌

19‌

Sharecare

Inc

(d)

32,275‌

45‌

Skillsoft

Corp

(d)

8,503‌

11‌

SolarWinds

Corp

(d)

5,623‌

59‌

Veradigm

Inc

(d)

11,903‌

161‌

Verint

Systems

Inc

(d)

484‌

18‌

Verra

Mobility

Corp

(d)

65,700‌

1,379‌

Vimeo

Inc

(d)

14,623‌

60‌

$

8,910‌

Supranational

Bank

-

0

.00

%

Banco

Latinoamericano

de

Comercio

Exterior

SA

3,086‌

72‌

Telecommunications

-

0

.17

%

ADTRAN

Holdings

Inc

8,609‌

84‌

Anterix

Inc

(d)

179‌

5‌

ATN

International

Inc

1,228‌

45‌

Aviat

Networks

Inc

(d)

1,257‌

38‌

BlackSky

Technology

Inc

(d)

13,036‌

26‌

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

245

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Telecommunications

(continued)

Cambium

Networks

Corp

(d)

16,900‌

$

274‌

Consolidated

Communications

Holdings

Inc

(d)

7,529‌

27‌

DigitalBridge

Group

Inc

12,212‌

196‌

DZS

Inc

(d)

2,311‌

9‌

EchoStar

Corp

(d)

3,771‌

73‌

Globalstar

Inc

(d)

9,239‌

10‌

Gogo

Inc

(d)

6,652‌

100‌

IDT

Corp

-

Class

B

(d)

385‌

9‌

KVH

Industries

Inc

(d)

1,990‌

17‌

Lumen

Technologies

Inc

111,136‌

199‌

NETGEAR

Inc

(d)

3,177‌

43‌

Preformed

Line

Products

Co

4,071‌

706‌

Ribbon

Communications

Inc

(d)

9,326‌

30‌

Shenandoah

Telecommunications

Co

5,365‌

100‌

Spok

Holdings

Inc

1,886‌

28‌

Telephone

and

Data

Systems

Inc

10,920‌

87‌

Terran

Orbital

Corp

(d)

8,405‌

13‌

Viavi

Solutions

Inc

(d)

4,321‌

47‌

$

2,166‌

Textiles

-

0

.02

%

UniFirst

Corp/MA

1,662‌

270‌

Toys,

Games

&

Hobbies

-

0

.18

%

Funko

Inc

(d)

149,650‌

1,221‌

JAKKS

Pacific

Inc

(d)

52,610‌

1,097‌

$

2,318‌

Transportation

-

3

.36

%

Air

Transport

Services

Group

Inc

(d)

6,220‌

125‌

ArcBest

Corp

1,620‌

188‌

Ardmore

Shipping

Corp

4,580‌

64‌

Costamare

Inc

5,349‌

60‌

Covenant

Logistics

Group

Inc

947‌

52‌

CryoPort

Inc

(d)

655‌

11‌

DHT

Holdings

Inc

15,135‌

149‌

Dorian

LPG

Ltd

1,461‌

43‌

Eagle

Bulk

Shipping

Inc

(e)

1,509‌

70‌

FLEX

LNG

Ltd

1,080‌

34‌

Forward

Air

Corp

18,300‌

2,175‌

Genco

Shipping

&

Trading

Ltd

4,648‌

67‌

Golden

Ocean

Group

Ltd

(e)

13,581‌

106‌

Heartland

Express

Inc

105,637‌

1,728‌

Himalaya

Shipping

Ltd

(d),(e)

2,399‌

14‌

Hub

Group

Inc

(d)

3,619‌

326‌

International

Seaways

Inc

4,488‌

193‌

Kirby

Corp

(d)

150,985‌

12,302‌

Landstar

System

Inc

58,295‌

11,868‌

Marten

Transport

Ltd

49,940‌

1,132‌

Matson

Inc

23,662‌

2,212‌

Nordic

American

Tankers

Ltd

22,641‌

99‌

Overseas

Shipholding

Group

Inc

(d)

6,126‌

25‌

PAM

Transportation

Services

Inc

(d)

17,470‌

452‌

Pangaea

Logistics

Solutions

Ltd

4,021‌

28‌

Radiant

Logistics

Inc

(d)

3,920‌

30‌

RXO

Inc

(d)

1,711‌

38‌

Safe

Bulkers

Inc

7,471‌

25‌

Saia

Inc

(d)

18,005‌

7,619‌

Scorpio

Tankers

Inc

5,818‌

274‌

SFL

Corp

Ltd

12,705‌

125‌

Teekay

Corp

(d)

7,359‌

49‌

Teekay

Tankers

Ltd

2,644‌

115‌

Universal

Logistics

Holdings

Inc

718‌

22‌

Werner

Enterprises

Inc

5,971‌

281‌

World

Kinect

Corp

77,295‌

1,743‌

$

43,844‌

Trucking

&

Leasing

-

1

.52

%

GATX

Corp

138,502‌

17,363‌

Greenbrier

Cos

Inc/The

52,118‌

2,407‌

Willis

Lease

Finance

Corp

(d)

298‌

13‌

$

19,783‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Water

-

0

.04

%

Artesian

Resources

Corp

240‌

$

11‌

California

Water

Service

Group

4,238‌

225‌

Consolidated

Water

Co

Ltd

1,187‌

23‌

SJW

Group

3,424‌

241‌

$

500‌

TOTAL

COMMON

STOCKS

$

1,262,341‌

Total

Investments

$

1,311,434‌

Other

Assets

and

Liabilities

-  (0.63)%

(

8,231‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,303,203‌

(a)

1-day

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,138

or

0.70%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$8,936

or

0.69%

of

net

assets.

(f)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Portfolio

Summary

Sector

Percent

Financial

28

.66‌

%

Industrial

17

.54‌

%

Consumer,

Cyclical

15

.81‌

%

Consumer,

Non-cyclical

9

.84‌

%

Energy

8

.18‌

%

Technology

6

.69‌

%

Basic

Materials

4

.69‌

%

Utilities

3

.60‌

%

Money

Market

Funds

3

.54‌

%

Communications

1

.85‌

%

Exchange-Traded

Funds

0

.23‌

%

Government

0

.00‌

%

Other

Assets

and

Liabilities

(

0

.63‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SmallCap

Value

Fund

II

July

31,

2023

(unaudited)

See

accompanying

notes.

246

Affiliated

Securities

October

31,

2022

Purchases

Sales

July

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

—‌

$

554,439‌

$

511,154‌

$

43,285‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

60,700‌

106,097‌

166,797‌

—‌

$

60,700‌

$

660,536‌

$

677,951‌

$

43,285‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

5.19%

$

1,441‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

5.14%

175‌

—‌

—‌

—‌

$

1,616‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Russell

2000

Emini;

September

2023

Long

81‌

$

8,155‌

$

399‌

Total

$

399‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Tax-Exempt

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

247

INVESTMENT

COMPANIES

-

0

.08

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.08

%

iShares

National

Muni

Bond

ETF

528‌

$

56‌

iShares

Short-Term

National

Muni

Bond

ETF

374‌

39‌

JPMorgan

Ultra-Short

Municipal

Income

ETF

99‌

5‌

SPDR

Nuveen

Bloomberg

High

Yield

Municipal

Bond

ETF

9,994‌

250‌

VanEck

High

Yield

Muni

ETF

2,363‌

121‌

$

471‌

TOTAL

INVESTMENT

COMPANIES

$

471‌

MUNICIPAL

BONDS

-

101

.58

%

Principal

Amount

(000's)

Value

(000's)

Alabama

-

2

.10

%

Industrial

Development

Board

of

the

City

of

Mobile

Alabama

4.70%,

04/01/2031

(a)

$

295‌

$

295‌

Lower

Alabama

Gas

District/The

5.00%,

09/01/2034

6,000‌

6,271‌

Phenix

City

Industrial

Development

Board

4.13%,

05/15/2035

3,000‌

2,952‌

Tuscaloosa

County

Industrial

Development

Authority

4.50%,

05/01/2032

(b)

2,191‌

2,043‌

5.25%,

05/01/2044

(b)

997‌

900‌

$

12,461‌

Arizona

-

1

.50

%

Arizona

Industrial

Development

Authority

5.00%,

01/01/2043

575‌

380‌

Chandler

Industrial

Development

Authority

2.70%,

12/01/2037

(a)

1,300‌

1,299‌

Navajo

Nation

5.50%,

12/01/2030

(b)

1,240‌

1,279‌

Salt

Verde

Financial

Corp

5.00%,

12/01/2032

5,615‌

5,950‌

$

8,908‌

Arkansas

-

0

.17

%

Arkansas

Development

Finance

Authority

5.45%,

09/01/2052

1,000‌

996‌

California

-

10

.61

%

Alum

Rock

Union

Elementary

School

District

5.25%,

08/01/2043

1,000‌

1,000‌

California

Community

Choice

Financing

Authority

5.00%,

12/01/2053

(a)

5,000‌

5,217‌

California

Health

Facilities

Financing

Authority

5.00%,

11/15/2046

(c)

1,695‌

1,773‌

California

Housing

Finance

Agency

(credit

support

from

Federal

Home

Loan

Mortgage

Corporation

Collateral

)

3.75%,

03/25/2035

(d)

7,062‌

6,872‌

California

Municipal

Finance

Authority

4.00%,

07/15/2029

4,050‌

4,014‌

4.00%,

10/01/2045

(a)

2,000‌

2,000‌

5.00%,

05/15/2033

1,000‌

1,056‌

5.00%,

05/15/2034

600‌

631‌

California

Municipal

Finance

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

-

Transfer

Custodial

Receipt

)

5.00%,

05/15/2031

(d)

2,240‌

2,424‌

California

Pollution

Control

Financing

Authority

4.30%,

07/01/2040

2,000‌

2,015‌

California

Statewide

Communities

Development

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

05/15/2031

(d)

2,000‌

2,237‌

City

of

Los

Angeles

Department

of

Airports

4.00%,

05/15/2037

1,000‌

1,040‌

5.00%,

05/15/2029

1,250‌

1,362‌

5.00%,

05/15/2035

185‌

208‌

5.00%,

05/15/2037

(c)

3,824‌

4,152‌

5.00%,

05/15/2044

(c)

5,150‌

5,298‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

Mizuho

Floater/Residual

Trust

5.15%,

12/01/2026

(a),(b)

$

1,000‌

$

1,000‌

5.15%,

04/15/2035

(a),(b)

2,000‌

2,000‌

5.15%,

10/15/2037

(a),(b)

2,000‌

2,000‌

Oakland

Unified

School

District/Alameda

County

5.00%,

08/01/2034

2,210‌

2,297‌

Riverside

Community

Properties

Development

Inc

6.00%,

10/15/2038

1,150‌

1,156‌

Sacramento

Area

Flood

Control

Agency

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

10/01/2039

(d)

1,340‌

1,352‌

San

Diego

County

Regional

Airport

Authority

5.00%,

07/01/2033

500‌

543‌

5.00%,

07/01/2034

415‌

450‌

5.00%,

07/01/2035

300‌

323‌

5.00%,

07/01/2037

450‌

478‌

5.00%,

07/01/2038

500‌

530‌

5.00%,

07/01/2040

65‌

69‌

San

Diego

Unified

School

District/CA

0.00%,

07/01/2032

(e)

5,000‌

3,781‌

Southern

California

Public

Power

Authority

5.00%,

11/01/2028

2,385‌

2,505‌

State

of

California

5.00%,

08/01/2028

2,000‌

2,213‌

West

Contra

Costa

Unified

School

District

5.25%,

08/01/2033

1,000‌

1,000‌

$

62,996‌

Colorado

-

2

.11

%

Colorado

Health

Facilities

Authority

4.00%,

11/15/2043

6,280‌

6,166‌

Denver

Convention

Center

Hotel

Authority

5.00%,

12/01/2036

1,000‌

1,011‌

Elbert

County

Independence

Water

&

Sanitation

District

7.25%,

12/01/2038

1,000‌

1,005‌

Painted

Prairie

Public

Improvement

Authority

5.00%,

12/01/2049

1,000‌

899‌

Transport

Metropolitan

District

No

3

5.00%,

12/01/2051

1,500‌

1,209‌

Velocity

Metropolitan

District

No

3

5.13%,

12/01/2034

2,235‌

2,224‌

$

12,514‌

Connecticut

-

1

.01

%

Mohegan

Tribal

Finance

Authority

7.00%,

02/01/2045

(b)

4,000‌

4,000‌

State

of

Connecticut

Special

Tax

Revenue

5.00%,

05/01/2030

1,755‌

2,001‌

$

6,001‌

District

of

Columbia

-

2

.95

%

District

of

Columbia

5.00%,

03/01/2029

2,000‌

2,238‌

5.00%,

02/01/2031

2,650‌

3,059‌

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

5.00%,

10/01/2033

10,135‌

11,174‌

Metropolitan

Washington

Airports

Authority

Dulles

Toll

Road

Revenue

5.00%,

10/01/2047

1,000‌

1,043‌

$

17,514‌

Florida

-

5

.67

%

City

of

Lakeland

FL

Department

of

Electric

Utilities

5.25%,

10/01/2036

1,000‌

1,168‌

Collier

County

Health

Facilities

Authority

5.00%,

05/01/2043

3,500‌

3,542‌

Schedule

of

Investments

Tax-Exempt

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

248

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Florida

(continued)

Florida

Development

Finance

Corp

3.00%,

06/01/2032

$

5,000‌

$

3,968‌

5.00%,

05/01/2029

(b)

2,000‌

1,907‌

6.13%,

07/01/2032

(a),(b)

4,000‌

4,026‌

7.38%,

01/01/2049

(b)

4,000‌

3,964‌

Greater

Orlando

Aviation

Authority

5.00%,

10/01/2047

(c)

7,000‌

7,130‌

Hillsborough

County

Aviation

Authority

5.00%,

10/01/2047

2,000‌

2,092‌

Orange

County

School

Board

5.00%,

08/01/2032

5,000‌

5,854‌

$

33,651‌

Georgia

-

3

.33

%

Bartow

County

Development

Authority

4.78%,

11/01/2062

(a)

500‌

500‌

Development

Authority

of

Appling

County

1.50%,

01/01/2038

(a)

2,500‌

2,369‌

Development

Authority

of

Burke

County/The

4.78%,

11/01/2052

(a)

400‌

400‌

George

L

Smith

II

Congress

Center

Authority

5.00%,

01/01/2036

(b)

3,310‌

3,123‌

5.00%,

01/01/2054

(b)

1,000‌

839‌

Georgia

Ports

Authority

5.00%,

07/01/2036

2,850‌

3,234‌

5.25%,

07/01/2039

3,585‌

4,107‌

Georgia

State

Road

&

Tollway

Authority

(credit

support

from

State

Guaranteed

)

4.00%,

07/15/2038

(d)

5,000‌

5,188‌

$

19,760‌

Illinois

-

11

.98

%

Chicago

O'Hare

International

Airport

5.25%,

01/01/2036

2,000‌

2,114‌

Chicago

Transit

Authority

Capital

Grant

Receipts

Revenue

5.00%,

06/01/2029

3,250‌

3,532‌

City

of

Chicago

IL

5.25%,

01/01/2029

2,000‌

2,035‌

5.50%,

01/01/2049

1,000‌

1,045‌

6.00%,

01/01/2038

2,965‌

3,147‌

7.46%,

02/15/2026

461‌

336‌

City

of

Chicago

IL

Wastewater

Transmission

Revenue

5.00%,

01/01/2030

1,000‌

1,016‌

5.00%,

01/01/2032

1,000‌

1,016‌

5.00%,

01/01/2033

2,625‌

2,672‌

City

of

Chicago

IL

Waterworks

Revenue

5.00%,

11/01/2028

1,000‌

1,018‌

County

of

Cook

IL

Sales

Tax

Revenue

5.25%,

11/15/2036

1,520‌

1,614‌

Illinois

Sports

Facilities

Authority/The

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

06/15/2029

(d)

2,700‌

2,842‌

Illinois

State

Toll

Highway

Authority

5.00%,

12/01/2032

5,200‌

5,405‌

5.00%,

01/01/2040

(c)

2,000‌

2,057‌

Metropolitan

Pier

&

Exposition

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

-

Transfer

Custodial

Receipt

)

4.00%,

12/15/2042

(d)

5,000‌

4,875‌

Metropolitan

Pier

&

Exposition

Authority

(credit

support

from

National

Public

Finance

Guarantee

Corp

)

5.50%,

06/15/2029

(d)

2,410‌

2,518‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Illinois

(continued)

Metropolitan

Water

Reclamation

District

of

Greater

Chicago

5.00%,

12/01/2028

$

5,000‌

$

5,288‌

5.00%,

12/01/2038

1,500‌

1,652‌

5.25%,

12/01/2032

1,500‌

1,805‌

Sales

Tax

Securitization

Corp

5.00%,

01/01/2036

1,000‌

1,071‌

5.00%,

01/01/2040

3,000‌

3,131‌

5.25%,

01/01/2048

1,250‌

1,303‌

Sales

Tax

Securitization

Corp

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

01/01/2037

(d)

2,000‌

2,161‌

State

of

Illinois

5.00%,

11/01/2027

2,415‌

2,569‌

5.00%,

11/01/2028

4,590‌

4,885‌

5.00%,

12/01/2032

1,380‌

1,462‌

5.50%,

01/01/2030

500‌

563‌

5.50%,

10/01/2044

6,855‌

7,545‌

United

City

of

Yorkville

IL

5.75%,

03/01/2028

300‌

300‌

Village

of

Gilberts

IL

Special

Service

Area

No

24

5.38%,

03/01/2034

147‌

133‌

$

71,110‌

Indiana

-

0

.66

%

City

of

Whiting

IN

3.00%,

11/01/2051

455‌

327‌

Indiana

Finance

Authority

4.13%,

12/01/2026

1,670‌

1,656‌

Town

of

Shoals

IN

7.25%,

11/01/2043

1,910‌

1,919‌

$

3,902‌

Iowa

-

0

.24

%

Iowa

Finance

Authority

5.00%,

12/01/2050

(a)

1,425‌

1,452‌

Kentucky

-

2

.23

%

County

of

Trimble

KY

1.30%,

09/01/2044

(a)

1,000‌

844‌

Kentucky

Municipal

Power

Agency

5.00%,

09/01/2035

1,080‌

1,149‌

Kentucky

Public

Energy

Authority

4.00%,

01/01/2049

(a)

3,000‌

2,999‌

Kentucky

Turnpike

Authority

5.00%,

07/01/2031

6,550‌

7,521‌

Louisville

Regional

Airport

Authority

4.70%,

01/01/2029

(a)

700‌

700‌

$

13,213‌

Louisiana

-

3

.62

%

Louisiana

Local

Government

Environmental

Facilities

&

Community

Development

Authority

3.50%,

11/01/2032

7,155‌

6,902‌

4.40%,

11/01/2044

(b)

1,805‌

1,714‌

5.50%,

11/01/2039

(b)

2,390‌

2,498‌

Louisiana

Offshore

Terminal

Authority

1.65%,

09/01/2027

(a)

3,320‌

3,285‌

Louisiana

Public

Facilities

Authority

0.00%,

07/01/2039

(e)

417‌

—‌

0.00%,

07/01/2039

(e)

659‌

—‌

Parish

of

St

James

LA

5.85%,

08/01/2041

(a),(b)

1,000‌

1,023‌

6.10%,

12/01/2040

(a),(b)

1,000‌

1,075‌

Parish

of

St

John

the

Baptist

LA

4.05%,

06/01/2037

(a)

5,000‌

4,967‌

$

21,464‌

Maine

-

0

.30

%

Finance

Authority

of

Maine

4.38%,

08/01/2035

(a),(b)

1,800‌

1,788‌

Schedule

of

Investments

Tax-Exempt

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

249

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Maryland

-

0

.67

%

State

of

Maryland

5.00%,

08/01/2030

$

3,450‌

$

3,970‌

Massachusetts

-

2

.06

%

Massachusetts

Bay

Transportation

Authority

Assessment

Revenue

5.25%,

07/01/2028

2,000‌

2,238‌

Massachusetts

Development

Finance

Agency

5.00%,

11/15/2032

3,000‌

3,610‌

5.25%,

07/01/2048

3,050‌

3,222‌

Massachusetts

Educational

Financing

Authority

4.90%,

07/01/2028

665‌

665‌

Massachusetts

Port

Authority

5.00%,

07/01/2029

1,000‌

1,078‌

5.00%,

07/01/2039

1,340‌

1,400‌

$

12,213‌

Michigan

-

3

.01

%

City

of

Detroit

MI

5.50%,

04/01/2050

1,000‌

1,033‌

Detroit

City

School

District

(credit

support

from

Qualified

School

Bond

Loan

Fund

)

5.00%,

05/01/2036

(d)

1,000‌

1,095‌

5.00%,

05/01/2037

(d)

1,000‌

1,082‌

5.00%,

05/01/2038

(d)

2,000‌

2,148‌

Kentwood

Economic

Development

Corp

5.00%,

11/15/2041

1,000‌

908‌

Michigan

Finance

Authority

4.00%,

02/15/2047

3,400‌

3,214‌

Michigan

Strategic

Fund

4.00%,

10/01/2061

(a)

5,000‌

4,969‌

5.00%,

06/30/2048

2,390‌

2,405‌

Wayne

County

Airport

Authority

5.00%,

12/01/2045

1,000‌

1,018‌

$

17,872‌

Mississippi

-

0

.17

%

Mississippi

Business

Finance

Corp

2.20%,

03/01/2027

(a)

1,000‌

985‌

Missouri

-

0

.95

%

City

of

St

Louis

MO

Airport

Revenue

5.00%,

07/01/2034

1,285‌

1,410‌

5.00%,

07/01/2044

1,100‌

1,158‌

City

of

St

Louis

MO

Airport

Revenue

(credit

support

from

National

Public

Finance

Guarantee

Corp

)

5.50%,

07/01/2028

(d)

1,500‌

1,668‌

Health

&

Educational

Facilities

Authority

of

the

State

of

Missouri

5.00%,

02/01/2034

1,400‌

1,407‌

$

5,643‌

Montana

-

1

.10

%

County

of

Gallatin

MT

4.00%,

10/15/2046

(b)

5,000‌

3,860‌

Montana

Board

of

Housing

(credit

support

from

Federal

Housing

Administration,

Guaranteed

by

the

Department

of

Veterans

Affairs

and

HUD

)

4.00%,

06/01/2045

(d)

805‌

791‌

Montana

Facility

Finance

Authority

4.13%,

07/01/2038

2,000‌

1,897‌

$

6,548‌

Multi-State

and

Other

-

0

.34

%

JPMorgan

Chase

Putters/Drivers

Trust

5.20%,

03/20/2024

(a),(b)

1,000‌

1,000‌

5.20%,

07/28/2025

(a),(b)

1,000‌

1,000‌

$

2,000‌

Nebraska

-

0

.17

%

Lincoln

Airport

Authority

4.00%,

07/01/2035

1,000‌

1,016‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Nevada

-

2

.24

%

Las

Vegas

Convention

&

Visitors

Authority

5.00%,

07/01/2043

(c)

$

9,000‌

$

9,405‌

Las

Vegas

Redevelopment

Agency

5.00%,

06/15/2040

3,850‌

3,919‌

$

13,324‌

New

Hampshire

-

1

.63

%

New

Hampshire

Business

Finance

Authority

2.15%,

07/01/2027

(a)

6,750‌

6,634‌

3.75%,

07/01/2045

(a),(b)

1,000‌

780‌

4.00%,

11/01/2027

(b)

1,000‌

962‌

4.13%,

01/20/2034

399‌

391‌

4.88%,

11/01/2042

(b)

1,000‌

893‌

$

9,660‌

New

Jersey

-

5

.36

%

Casino

Reinvestment

Development

Authority

Inc

5.25%,

11/01/2039

750‌

757‌

New

Jersey

Economic

Development

Authority

4.00%,

07/01/2032

805‌

814‌

5.75%,

04/01/2031

1,005‌

1,003‌

New

Jersey

Transportation

Trust

Fund

Authority

5.25%,

06/15/2032

2,000‌

2,053‌

5.25%,

06/15/2034

2,250‌

2,321‌

North

Hudson

Sewerage

Authority/NJ

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

06/01/2034

(d)

180‌

217‌

South

Jersey

Port

Corp

5.00%,

01/01/2042

5,000‌

5,063‌

State

of

New

Jersey

4.00%,

06/01/2031

5,000‌

5,331‌

5.00%,

06/01/2027

2,100‌

2,249‌

Tobacco

Settlement

Financing

Corp

4.00%,

06/01/2037

4,700‌

4,747‌

5.25%,

06/01/2046

7,000‌

7,262‌

$

31,817‌

New

Mexico

-

0

.08

%

City

of

Farmington

NM

2.15%,

04/01/2033

600‌

474‌

New

York

-

7

.78

%

Metropolitan

Transportation

Authority

5.00%,

11/15/2025

400‌

412‌

5.00%,

11/15/2032

1,000‌

1,101‌

New

York

City

Industrial

Development

Agency

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

01/01/2031

(d)

1,000‌

1,122‌

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

5.25%,

08/01/2037

3,000‌

3,270‌

5.25%,

11/01/2037

3,000‌

3,504‌

New

York

Counties

Tobacco

Trust

VI

5.00%,

06/01/2036

740‌

758‌

New

York

State

Dormitory

Authority

4.00%,

09/01/2045

1,500‌

1,299‌

New

York

State

Dormitory

Authority

(credit

support

from

Assured

Guaranty

Municipal

Corp

-

State

Aid

Withholding

)

5.00%,

10/01/2023

(d)

140‌

140‌

New

York

Transportation

Development

Corp

4.00%,

10/01/2030

1,000‌

995‌

4.00%,

10/31/2041

1,000‌

910‌

4.00%,

12/01/2042

1,000‌

937‌

5.00%,

12/01/2027

1,000‌

1,064‌

5.00%,

12/01/2028

2,350‌

2,533‌

5.00%,

01/01/2032

7,200‌

7,451‌

5.00%,

01/01/2034

3,200‌

3,306‌

5.00%,

10/01/2035

2,000‌

2,093‌

5.00%,

12/01/2035

2,850‌

3,090‌

Schedule

of

Investments

Tax-Exempt

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

250

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

New

York

(continued)

New

York

Transportation

Development

Corp  

(continued)

5.00%,

10/01/2040

$

2,000‌

$

2,053‌

5.00%,

12/01/2041

1,000‌

1,040‌

5.00%,

07/01/2046

3,500‌

3,453‌

Port

Authority

of

New

York

&

New

Jersey

5.00%,

07/15/2035

3,000‌

3,265‌

Tompkins

County

Development

Corp

0.00%,

07/01/2027

(e)

115‌

46‌

Westchester

County

Local

Development

Corp

5.00%,

11/01/2046

2,400‌

2,323‌

$

46,165‌

North

Carolina

-

0

.75

%

North

Carolina

Medical

Care

Commission

5.00%,

10/01/2047

1,000‌

1,032‌

Raleigh

Durham

Airport

Authority

5.00%,

05/01/2033

2,000‌

2,175‌

5.00%,

05/01/2034

1,150‌

1,247‌

$

4,454‌

Ohio

-

2

.77

%

Buckeye

Tobacco

Settlement

Financing

Authority

4.00%,

06/01/2037

1,125‌

1,121‌

4.00%,

06/01/2039

1,850‌

1,812‌

5.00%,

06/01/2055

6,935‌

6,445‌

County

of

Hamilton

OH

5.00%,

01/01/2036

1,435‌

1,394‌

5.00%,

01/01/2046

2,500‌

2,251‌

Ohio

Air

Quality

Development

Authority

4.25%,

01/15/2038

(b)

1,000‌

990‌

4.50%,

01/15/2048

(b)

850‌

819‌

Port

of

Greater

Cincinnati

Development

Authority

4.25%,

12/01/2050

(b)

2,000‌

1,598‌

$

16,430‌

Oregon

-

0

.00

%

Oregon

State

Business

Development

Commission

0.00%,

04/01/2031

(b),(e)

1,000‌

5‌

Pennsylvania

-

6

.00

%

Allegheny

County

Airport

Authority

5.00%,

01/01/2056

460‌

473‌

Allegheny

County

Industrial

Development

Authority

5.13%,

05/01/2030

1,630‌

1,675‌

City

of

Philadelphia

PA

5.00%,

02/01/2037

2,000‌

2,167‌

Lancaster

Industrial

Development

Authority

4.00%,

07/01/2046

750‌

571‌

4.00%,

07/01/2051

1,000‌

734‌

Pennsylvania

Economic

Development

Financing

Authority

5.50%,

06/30/2043

4,100‌

4,517‌

Pennsylvania

Turnpike

Commission

5.00%,

12/01/2028

2,000‌

2,191‌

5.00%,

12/01/2036

1,725‌

1,821‌

Pennsylvania

Turnpike

Commission

Oil

Franchise

Tax

Revenue

5.00%,

12/01/2046

4,055‌

4,358‌

5.25%,

12/01/2044

4,350‌

4,647‌

Sports

&

Exhibition

Authority

of

Pittsburgh

and

Allegheny

County

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

02/01/2034

(d)

1,895‌

2,149‌

5.00%,

02/01/2035

(d)

9,140‌

10,321‌

$

35,624‌

Puerto

Rico

-

1

.05

%

Commonwealth

of

Puerto

Rico

0.00%,

07/01/2024

(e)

54‌

52‌

0.00%,

07/01/2033

(e)

428‌

261‌

0.00%,

11/01/2043

(a),(e)

1,571‌

805‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Puerto

Rico

(continued)

Commonwealth

of

Puerto

Rico  

(continued)

4.00%,

07/01/2033

$

2,933‌

$

2,783‌

4.00%,

07/01/2037

257‌

230‌

4.00%,

07/01/2041

349‌

299‌

4.00%,

07/01/2046

363‌

302‌

5.38%,

07/01/2025

371‌

379‌

5.63%,

07/01/2027

367‌

386‌

5.63%,

07/01/2029

361‌

386‌

5.75%,

07/01/2031

351‌

382‌

$

6,265‌

South

Carolina

-

1

.29

%

County

of

Berkeley

SC

5.03%,

04/01/2031

(a)

400‌

400‌

South

Carolina

Jobs-Economic

Development

Authority

5.25%,

11/15/2047

1,830‌

1,680‌

5.25%,

11/15/2052

1,500‌

1,349‌

6.00%,

06/01/2031

(b)

1,000‌

875‌

6.50%,

06/01/2051

(b)

4,500‌

3,364‌

$

7,668‌

South

Dakota

-

0

.24

%

Oglala

Sioux

Tribe

5.75%,

10/01/2025

(b)

1,500‌

1,457‌

Tennessee

-

1

.09

%

Metropolitan

Government

Nashville

&

Davidson

County

Health

&

Educational

Facilities

Board

5.00%,

07/01/2040

4,510‌

4,621‌

Metropolitan

Government

Nashville

&

Davidson

County

Industrial

Development

Board

4.00%,

06/01/2051

(b)

1,000‌

818‌

Tennergy

Corp/TN

5.00%,

02/01/2050

(a)

1,000‌

1,012‌

$

6,451‌

Texas

-

7

.72

%

Central

Texas

Regional

Mobility

Authority

5.00%,

01/01/2048

2,740‌

2,817‌

Central

Texas

Turnpike

System

5.00%,

08/15/2031

1,285‌

1,301‌

City

of

Houston

TX

Airport

System

Revenue

5.00%,

07/01/2029

2,000‌

2,005‌

6.63%,

07/15/2038

5,000‌

5,015‌

Harris

County

Industrial

Development

Corp

4.47%,

08/15/2027

(a)

200‌

200‌

Harris

County-Houston

Sports

Authority

5.00%,

11/15/2030

3,000‌

3,054‌

Matagorda

County

Navigation

District

No

1

2.60%,

11/01/2029

2,600‌

2,347‌

Mission

Economic

Development

Corp

4.25%,

06/01/2048

(a)

1,000‌

1,001‌

North

Texas

Tollway

Authority

5.00%,

01/01/2045

1,000‌

1,010‌

Port

Beaumont

Navigation

District

2.75%,

01/01/2036

(b)

1,000‌

710‌

2.88%,

01/01/2041

(b)

1,000‌

651‌

3.63%,

01/01/2035

(b)

4,535‌

3,620‌

Sea

Breeze

Public

Facility

Corp

6.50%,

01/01/2046

100‌

94‌

Tarrant

County

Cultural

Education

Facilities

Finance

Corp

5.00%,

11/15/2037

2,060‌

2,066‌

Texas

Municipal

Gas

Acquisition

and

Supply

Corp

I

6.25%,

12/15/2026

10,795‌

11,219‌

Texas

Private

Activity

Bond

Surface

Transportation

Corp

4.00%,

12/31/2032

2,450‌

2,444‌

5.00%,

12/31/2033

4,000‌

4,337‌

7.00%,

12/31/2038

1,000‌

1,002‌

Schedule

of

Investments

Tax-Exempt

Bond

Fund

July

31,

2023

(unaudited)

See

accompanying

notes.

251

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Texas

(continued)

West

Harris

County

Regional

Water

Authority

4.00%,

12/15/2049

$

1,000‌

$

923‌

$

45,816‌

Utah

-

1

.39

%

Utah

Infrastructure

Agency

5.00%,

10/15/2028

1,000‌

1,023‌

5.00%,

10/15/2032

4,385‌

4,493‌

5.00%,

10/15/2037

1,500‌

1,509‌

5.38%,

10/15/2040

1,200‌

1,213‌

$

8,238‌

Virginia

-

2

.38

%

County

of

Botetourt

VA

6.00%,

07/01/2034

1,000‌

1,006‌

6.00%,

07/01/2044

1,000‌

988‌

Fairfax

County

Redevelopment

&

Housing

Authority

5.00%,

10/01/2039

3,000‌

3,183‌

Roanoke

Economic

Development

Authority

6.63%,

12/01/2044

1,295‌

1,309‌

Virginia

Public

School

Authority

(credit

support

from

State

Intercept

Program

)

5.00%,

08/01/2030

(d)

3,535‌

3,981‌

Virginia

Small

Business

Financing

Authority

3.00%,

01/01/2041

3,480‌

2,697‌

4.00%,

01/01/2039

1,000‌

942‌

$

14,106‌

Washington

-

0

.98

%

Port

of

Seattle

WA

5.00%,

08/01/2030

5,250‌

5,733‌

Washington

State

Housing

Finance

Commission

3.50%,

12/20/2035

107‌

98‌

$

5,831‌

West

Virginia

-

0

.21

%

West

Virginia

Economic

Development

Authority

4.12%,

07/01/2045

(a)

1,250‌

1,232‌

Wisconsin

-

1

.67

%

Public

Finance

Authority

4.00%,

03/31/2056

2,500‌

2,008‌

5.00%,

01/01/2024

3,500‌

3,512‌

5.00%,

12/01/2025

3,000‌

3,054‌

5.00%,

10/01/2043

(b)

1,500‌

1,327‌

$

9,901‌

TOTAL

MUNICIPAL

BONDS

$

602,895‌

Total

Investments

$

603,366‌

Liability

for

Floating

Rate

Notes

Issued

in

Conjunction

with

Securities

Held

-

(2.92)%

Notes

with

interest

rates

of

4.03%

-

4.30%

at

July

31,

2023

and

contractual

maturities

of

collateral

from

2023-2029.

(f)

$

(

17,322‌

)

(

17,322‌

)

Total

Net

Investments

$

586,044‌

Other

Assets

and

Liabilities

-  1.26%

7,451‌

TOTAL

NET

ASSETS

-

100.00%

$

593,495‌

(a)

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.

(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

$59,908

or

10.09%

of

net

assets.

(c)

Security

or

portion

of

underlying

security

related

to

Inverse

Floaters

entered

into

by

the

fund.

(d)

Credit

support

indicates

investments

that

benefit

from

credit

enhancement

or

liquidity

support

provided

by

a

third

party

bank,

institution,

or

government

agency.

(e)

Non-income

producing

security

(f)

Floating

rate

securities.

The

interest

rate(s)

shown

reflect

the

rates

in

effect

at

July

31,

2023.

Portfolio

Summary

Sector

Percent

Revenue

Bonds

76

.90‌

%

General

Obligation

Unlimited

9

.73‌

%

Insured

9

.29‌

%

Prerefunded

2

.04‌

%

General

Obligation

Limited

1

.16‌

%

Certificate

Participation

1

.04‌

%

Tax

Allocation

0

.66‌

%

Special

Tax

0

.31‌

%

Special

Assessment

0

.31‌

%

Notes

0

.14‌

%

Exchange-Traded

Funds

0

.08‌

%

Liability

For

Floating

Rate

Notes

Issued

(

2

.92‌

)

%

Other

Assets

and

Liabilities

1

.26‌

%

TOTAL

NET

ASSETS

100.00%

Glossary

to

the

Schedule

of

Investments

July

31,

2023

(unaudited)

See

accompanying

notes.

252

Currency

Abbreviations

BRL

Brazilian

Real

CAD

Canadian

Dollar

CLP

Chilean

Peso

CNH

Chinese

Renminbi

COP

Colombian

Peso

CZK

Czech

Koruna

EUR

Euro

GBP

British

Pound

Sterling

HKD

Hong

Kong

Dollar

HUF

Hungarian

Forint

IDR

Indonesian

Rupiah

ILS

Israeli

New

Shekel

INR

Indian

Rupee

JPY

Japanese

Yen

KRW

South

Korean

Won

MXN

Mexican

Peso

PEN

Peruvian

Nuevo

Sol

PLN

Polish

Zloty

RON

Romanian

New

Leu

THB

Thai

Baht

USD/$

United

States

Dollar

ZAR

South

African

Rand

July

31,

2023

(unaudited)

253

Security

Valuation.

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

Fixed

Income

Fund,

Core

Plus

Bond

Fund,

Diversified

Income

Fund,

Diversified

International

Fund,

Equity

Income

Fund,

Finisterre

Emerging

Markets

Total

Return

Bond

Fund,

Global

Emerging

Markets

Fund,

Global

Real

Estate

Securities

Fund,

Government

&

High

Quality

Bond

Fund,

High

Income

Fund,

High

Yield

Fund,

Inflation

Protection

Fund,

International

Fund

I,

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,

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

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.

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.

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

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.

July

31,

2023

(unaudited)

254

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.

Investments

which

are

generally

included

in

this

category

include

listed

equities

and

exchange-traded

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,

municipal

bonds,

OTC

derivatives,

exchange

cleared

derivatives,

senior

floating

rate

interests,

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,

convertible

preferred

stocks,

corporate

bonds,

preferred

stocks,

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

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:

yield

to

maturity,

EBITDA

multiples,

discount

rates,

available

cash,

or

direct

offering

price.

Significant

increases

in

yield

to

maturity,

EBITDA

multiples,

available

cash,

or

direct

offering

price would

have

resulted

in

significantly

higher

fair

value

measurements.

A

significant

increase

in

discount

rates

would

have

resulted

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.).

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

instruments.

The

following

is

a

summary

of

the

inputs

used

as

of

July

31,

2023

in

valuing

the

Funds'

securities

carried

at

value

(amounts

shown

in

thousands):

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

California

Municipal

Fund

Investment

Companies*

$

52

$

—

$

—

$

52

Municipal

Bonds*

—

608,462

—

608,462

Total

investments

in

securities

$

52

$

608,462

$

—

$

608,514

July

31,

2023

(unaudited)

255

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Core

Fixed

Income

Fund

Bonds*

$

—

$

5,375,676

$

—

$

5,375,676

Common

Stocks

Industrial

—

—

21,252

21,252

Investment

Companies*

329,635

—

—

329,635

Senior

Floating

Rate

Interests*

—

8,347

—

8,347

U.S.

Government

&

Government

Agency

Obligations*

—

4,357,369

—

4,357,369

Total

investments

in

securities

$

329,635

$

9,741,392

$

21,252

$

10,092,279

Core

Plus

Bond

Fund

Bonds*

—

305,512

9

305,521

Common

Stocks

Consumer,

Cyclical

—

78

—

78

Energy

—

—

29

29

Financial

—

—

—

—

Investment

Companies*

21,347

—

—

21,347

Preferred

Stocks*

3,378

—

—

3,378

Senior

Floating

Rate

Interests*

—

4,779

—

4,779

U.S.

Government

&

Government

Agency

Obligations*

—

320,039

—

320,039

Total

investments

in

securities

$

24,725

$

630,408

$

38

$

655,171

Derivative

Assets

Interest

Rate

Contracts

Futures**

37

—

—

37

Derivative

Liabilities

Credit

Contracts

Exchange

Cleared

Credit

Default

Swaps**

—

(241)

—

(241)

Interest

Rate

Contracts

Futures**

(972)

—

—

(972)

Diversified

Income

Fund

Bonds*

—

1,938,694

80,499

2,019,193

Common

Stocks

Basic

Materials

—

1,925

41,317

43,242

Consumer,

Cyclical

—

15,414

—

15,414

Consumer,

Non-cyclical

—

362

—

362

Industrial

—

7,804

5

7,809

Technology

305

517

—

822

Investment

Companies*

278,722

—

—

278,722

Preferred

Stocks

Consumer,

Non-cyclical

—

920

—

920

Financial

18,080

4,419

—

22,499

Government

676

—

—

676

Utilities

10,552

—

—

10,552

Senior

Floating

Rate

Interests*

—

319,132

4,510

323,642

U.S.

Government

&

Government

Agency

Obligations*

—

220,921

—

220,921

Total

investments

in

securities

$

308,335

$

2,510,108

$

126,331

$

2,944,774

Derivative

Assets

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

141

—

141

Interest

Rate

Contracts

Futures**

57

—

—

57

Derivative

Liabilities

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

(53)

—

(53)

Interest

Rate

Contracts

Futures**

(715)

—

—

(715)

Diversified

International

Fund

Common

Stocks

Basic

Materials

52,257

146,503

—

198,760

Communications

38,796

42,036

—

80,832

Consumer,

Cyclical

235,667

643,592

—

879,259

Consumer,

Non-cyclical

66,181

963,990

—

1,030,171

Energy

121,855

128,114

—

249,969

Financial

331,288

872,638

—

1,203,926

July

31,

2023

(unaudited)

256

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Diversified

International

Fund

(continued)

Common

Stocks

(continued)

Industrial

$

153,435

$

651,519

$

—

$

804,954

Technology

—

619,756

—

619,756

Utilities

—

78,899

—

78,899

Investment

Companies*

136,103

—

—

136,103

Total

investments

in

securities

$

1,135,582

$

4,147,047

$

—

$

5,282,629

Equity

Income

Fund

Common

Stocks*

8,929,610

—

—

8,929,610

Investment

Companies*

151,657

—

—

151,657

Total

investments

in

securities

$

9,081,267

$

—

$

—

$

9,081,267

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

Bonds*

—

417,827

—

417,827

Convertible

Bonds*

—

945

—

945

Investment

Companies*

58,558

—

—

58,558

Total

investments

in

securities

$

58,558

$

418,772

$

—

$

477,330

Derivative

Assets

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

371

—

371

Interest

Rate

Contracts

Exchange

Cleared

Interest

Rate

Swaps**

—

7

—

7

Derivative

Liabilities

Credit

Contracts

Credit

Default

Swaps

—

(581)

—

(581)

Exchange

Cleared

Credit

Default

Swaps**

—

(1,098)

—

(1,098)

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

(894)

—

(894)

Interest

Rate

Contracts

Exchange

Cleared

Interest

Rate

Swaps**

—

(860)

—

(860)

Futures**

(995)

—

—

(995)

Global

Emerging

Markets

Fund

Common

Stocks

Basic

Materials

4,553

4,498

—

9,051

Communications

5,057

31,654

—

36,711

Consumer,

Cyclical

5,269

22,281

—

27,550

Consumer,

Non-cyclical

4,609

24,656

—

29,265

Energy

2,656

9,326

—

11,982

Financial

7,800

38,716

—

46,516

Industrial

4,480

18,310

—

22,790

Technology

3,293

43,777

—

47,070

Utilities

—

2,487

—

2,487

Investment

Companies*

4,716

—

—

4,716

Preferred

Stocks

Consumer,

Cyclical

—

981

—

981

Financial

—

37

—

37

Total

investments

in

securities

$

42,433

$

196,723

$

—

$

239,156

Global

Real

Estate

Securities

Fund

Common

Stocks

Communications

—

14,822

—

14,822

Consumer,

Cyclical

12,192

—

—

12,192

Consumer,

Non-cyclical

11,255

—

—

11,255

Financial

1,398,615

686,386

—

2,085,001

Industrial

—

11,053

—

11,053

Investment

Companies*

43,586

—

—

43,586

Total

investments

in

securities

$

1,465,648

$

712,261

$

—

$

2,177,909

Government

&

High

Quality

Bond

Fund

Bonds*

—

64,693

—

64,693

Investment

Companies*

16,424

—

—

16,424

U.S.

Government

&

Government

Agency

Obligations*

—

583,421

—

583,421

Total

investments

in

securities

$

16,424

$

648,114

$

—

$

664,538

July

31,

2023

(unaudited)

257

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Government

&

High

Quality

Bond

Fund

(continued)

Derivative

Assets

Interest

Rate

Contracts

Futures**

$

532

$

—

$

—

$

532

Derivative

Liabilities

Interest

Rate

Contracts

Futures**

(1,248)

—

—

(1,248)

High

Income

Fund

Bonds*

—

2,799,252

12,676

2,811,928

Common

Stocks

Basic

Materials

—

1,533

2,475

4,008

Communications

—

—

—

—

Consumer,

Cyclical

—

4,932

—

4,932

Energy

—

—

—

—

Industrial

—

7,191

5

7,196

Technology

250

—

—

250

Utilities

—

—

—

—

Convertible

Preferred

Stocks

Consumer,

Cyclical

—

—

628

628

Investment

Companies*

182,613

—

—

182,613

Preferred

Stocks

Communications

—

—

—

—

Senior

Floating

Rate

Interests*

—

289,295

3,592

292,887

U.S.

Government

&

Government

Agency

Obligations*

—

37,802

—

37,802

Total

investments

in

securities

$

182,863

$

3,140,005

$

19,376

$

3,342,244

Derivative

Assets

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

66

—

66

Derivative

Liabilities

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

(1)

—

(1)

High

Yield

Fund

Bonds*

—

2,044,340

95

2,044,435

Common

Stocks

Consumer,

Cyclical

—

1,362

—

1,362

Energy

—

—

1,087

1,087

Financial

—

—

—

—

Convertible

Bonds*

—

—

—

—

Investment

Companies*

143,800

—

—

143,800

Senior

Floating

Rate

Interests*

—

150,703

—

150,703

U.S.

Government

&

Government

Agency

Obligations*

—

45,393

—

45,393

Total

investments

in

securities

$

143,800

$

2,241,798

$

1,182

$

2,386,780

Derivative

Assets

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

154

—

154

Derivative

Liabilities

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

—

—

—

Inflation

Protection

Fund

Bonds*

—

35,263

—

35,263

Investment

Companies*

62,946

—

—

62,946

U.S.

Government

&

Government

Agency

Obligations*

—

1,533,260

—

1,533,260

Purchased

Options

3,389

—

—

3,389

Purchased

Interest

Rate

Swaptions

—

644

—

644

Total

investments

in

securities

$

66,335

$

1,569,167

$

—

$

1,635,502

Derivative

Assets

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

8

—

8

Interest

Rate

Contracts

Exchange

Cleared

Interest

Rate

Swaps**

—

528

—

528

Futures**

164

—

—

164

July

31,

2023

(unaudited)

258

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Inflation

Protection

Fund

(continued)

Interest

Rate

Contracts

(continued)

Derivative

Liabilities

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

$

—

$

(205)

$

—

$

(205)

Interest

Rate

Contracts

Exchange

Cleared

Interest

Rate

Swaps**

—

(485)

—

(485)

Futures**

(756)

—

—

(756)

Written

Interest

Rate

Swaptions

—

(1,703)

—

(1,703)

Written

Options

(3,270)

—

—

(3,270)

International

Fund

I

Common

Stocks

Basic

Materials

—

9,365

—

9,365

Communications

7,887

12,785

—

20,672

Consumer,

Cyclical

5,761

51,824

—

57,585

Consumer,

Non-cyclical

1,000

44,626

—

45,626

Energy

2,338

13,834

—

16,172

Financial

14,775

62,786

—

77,561

Industrial

4,413

36,771

—

41,184

Technology

5,605

40,462

—

46,067

Utilities

—

6,934

—

6,934

Investment

Companies*

4,127

—

—

4,127

Total

investments

in

securities

$

45,906

$

279,387

$

—

$

325,293

LargeCap

Growth

Fund

I

Common

Stocks

Basic

Materials

9,394

—

—

9,394

Communications

2,161,404

—

—

2,161,404

Consumer,

Cyclical

678,438

6,048

—

684,486

Consumer,

Non-cyclical

2,665,824

—

—

2,665,824

Energy

25,424

—

—

25,424

Financial

839,990

—

—

839,990

Industrial

472,422

—

—

472,422

Technology

4,498,590

—

2,707

4,501,297

Utilities

853

—

—

853

Convertible

Preferred

Stocks

Basic

Materials

—

—

2,101

2,101

Consumer,

Cyclical

—

—

1,860

1,860

Technology

—

—

5,914

5,914

Investment

Companies*

260,034

—

—

260,034

Total

investments

in

securities

$

11,612,373

$

6,048

$

12,582

$

11,631,003

Derivative

Assets

Equity

Contracts

Futures**

1,140

—

—

1,140

LargeCap

S&P

500

Index

Fund

Common

Stocks*

6,526,434

—

—

6,526,434

Investment

Companies*

157,741

—

—

157,741

Total

investments

in

securities

$

6,684,175

$

—

$

—

$

6,684,175

Derivative

Assets

Equity

Contracts

Futures**

6,209

—

—

6,209

LargeCap

Value

Fund

III

Common

Stocks

Basic

Materials

102,350

—

—

102,350

Communications

138,417

—

—

138,417

Consumer,

Cyclical

285,052

—

—

285,052

Consumer,

Non-cyclical

614,493

—

—

614,493

Energy

279,320

—

—

279,320

Financial

651,603

—

—

651,603

Industrial

280,014

—

—

280,014

Technology

362,212

—

—

362,212

July

31,

2023

(unaudited)

259

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

LargeCap

Value

Fund

III

(continued)

Common

Stocks

(continued)

Utilities

$

116,769

$

—

$

—

$

116,769

Investment

Companies*

81,706

—

—

81,706

Total

investments

in

securities

$

2,911,936

$

—

$

—

$

2,911,936

Derivative

Assets

Equity

Contracts

Futures**

534

—

—

534

MidCap

Fund

Common

Stocks

Basic

Materials

177,617

—

—

177,617

Communications

728,237

—

—

728,237

Consumer,

Cyclical

5,689,043

—

—

5,689,043

Consumer,

Non-cyclical

2,096,038

—

—

2,096,038

Financial

4,856,625

—

—

4,856,625

Industrial

3,492,047

—

—

3,492,047

Technology

2,583,029

—

—

2,583,029

Utilities

679,120

—

—

679,120

Investment

Companies*

1,976

—

—

1,976

Total

investments

in

securities

$

20,303,732

$

—

$

—

$

20,303,732

MidCap

Growth

Fund

Common

Stocks*

228,505

—

—

228,505

Investment

Companies*

15,081

—

—

15,081

Total

investments

in

securities

$

243,586

$

—

$

—

$

243,586

MidCap

Growth

Fund

III

Common

Stocks*

1,216,699

—

—

1,216,699

Investment

Companies*

22,140

—

—

22,140

Total

investments

in

securities

$

1,238,839

$

—

$

—

$

1,238,839

Derivative

Assets

Equity

Contracts

Futures**

333

—

—

333

MidCap

S&P

400

Index

Fund

Common

Stocks*

1,348,302

—

—

1,348,302

Investment

Companies*

33,227

—

—

33,227

Total

investments

in

securities

$

1,381,529

$

—

$

—

$

1,381,529

Derivative

Assets

Equity

Contracts

Futures**

927

—

—

927

MidCap

Value

Fund

I

Common

Stocks

Basic

Materials

175,354

—

—

175,354

Communications

58,466

—

—

58,466

Consumer,

Cyclical

675,896

—

—

675,896

Consumer,

Non-cyclical

589,668

—

—

589,668

Energy

133,460

—

—

133,460

Financial

838,235

—

—

838,235

Industrial

884,559

—

—

884,559

Technology

391,955

—

—

391,955

Utilities

126,202

—

—

126,202

Investment

Companies*

100,995

—

—

100,995

Total

investments

in

securities

$

3,974,790

$

—

$

—

$

3,974,790

Derivative

Assets

Equity

Contracts

Futures**

368

—

—

368

Overseas

Fund

Common

Stocks

Basic

Materials

—

167,703

—

167,703

Communications

—

48,131

—

48,131

July

31,

2023

(unaudited)

260

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Overseas

Fund

(continued)

Common

Stocks

(continued)

Consumer,

Cyclical

$

30,258

$

254,389

$

—

$

284,647

Consumer,

Non-cyclical

1,057

501,356

—

502,413

Diversified

—

543

—

543

Energy

52,687

106,542

—

159,229

Financial

5,771

537,966

—

543,737

Industrial

10,435

424,333

—

434,768

Technology

161

114,298

—

114,459

Utilities

—

141,097

—

141,097

Investment

Companies*

75,958

—

—

75,958

Preferred

Stocks

Consumer,

Cyclical

—

2,031

—

2,031

Consumer,

Non-cyclical

—

23,651

—

23,651

Total

investments

in

securities

$

176,327

$

2,322,040

$

—

$

2,498,367

Derivative

Assets

Equity

Contracts

Futures**

335

—

—

335

Principal

Capital

Appreciation

Fund

Common

Stocks

Basic

Materials

75,774

—

—

75,774

Communications

496,630

—

—

496,630

Consumer,

Cyclical

386,141

—

—

386,141

Consumer,

Non-cyclical

658,401

—

—

658,401

Energy

178,812

—

—

178,812

Financial

546,906

—

—

546,906

Industrial

250,527

26,984

—

277,511

Technology

904,721

—

—

904,721

Utilities

104,295

—

—

104,295

Investment

Companies*

28,567

—

—

28,567

Total

investments

in

securities

$

3,630,774

$

26,984

$

—

$

3,657,758

Principal

LifeTime

2015

Fund

Investment

Companies*

268,989

—

—

268,989

Total

investments

in

securities

$

268,989

$

—

$

—

$

268,989

Principal

LifeTime

2020

Fund

Investment

Companies*

2,586,669

—

—

2,586,669

Total

investments

in

securities

$

2,586,669

$

—

$

—

$

2,586,669

Principal

LifeTime

2025

Fund

Investment

Companies*

1,603,658

—

—

1,603,658

Total

investments

in

securities

$

1,603,658

$

—

$

—

$

1,603,658

Principal

LifeTime

2030

Fund

Investment

Companies*

5,379,301

—

—

5,379,301

Total

investments

in

securities

$

5,379,301

$

—

$

—

$

5,379,301

Principal

LifeTime

2035

Fund

Investment

Companies*

1,777,906

—

—

1,777,906

Total

investments

in

securities

$

1,777,906

$

—

$

—

$

1,777,906

Principal

LifeTime

2040

Fund

Investment

Companies*

4,339,861

—

—

4,339,861

Total

investments

in

securities

$

4,339,861

$

—

$

—

$

4,339,861

Principal

LifeTime

2045

Fund

Investment

Companies*

1,434,700

—

—

1,434,700

Total

investments

in

securities

$

1,434,700

$

—

$

—

$

1,434,700

July

31,

2023

(unaudited)

261

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Principal

LifeTime

2050

Fund

Investment

Companies*

$

2,942,479

$

—

$

—

$

2,942,479

Total

investments

in

securities

$

2,942,479

$

—

$

—

$

2,942,479

Principal

LifeTime

2055

Fund

Investment

Companies*

909,278

—

—

909,278

Total

investments

in

securities

$

909,278

$

—

$

—

$

909,278

Principal

LifeTime

2060

Fund

Investment

Companies*

864,625

—

—

864,625

Total

investments

in

securities

$

864,625

$

—

$

—

$

864,625

Principal

LifeTime

2065

Fund

Investment

Companies*

143,973

—

—

143,973

Total

investments

in

securities

$

143,973

$

—

$

—

$

143,973

Principal

LifeTime

2070

Fund

Investment

Companies*

5,363

—

—

5,363

Total

investments

in

securities

$

5,363

$

—

$

—

$

5,363

Principal

LifeTime

Hybrid

2015

Fund

Investment

Companies*

212,022

—

—

212,022

Total

investments

in

securities

$

212,022

$

—

$

—

$

212,022

Principal

LifeTime

Hybrid

2020

Fund

Investment

Companies*

472,950

—

—

472,950

Total

investments

in

securities

$

472,950

$

—

$

—

$

472,950

Principal

LifeTime

Hybrid

2025

Fund

Investment

Companies*

664,494

—

—

664,494

Total

investments

in

securities

$

664,494

$

—

$

—

$

664,494

Principal

LifeTime

Hybrid

2030

Fund

Investment

Companies*

652,873

—

—

652,873

Total

investments

in

securities

$

652,873

$

—

$

—

$

652,873

Principal

LifeTime

Hybrid

2035

Fund

Investment

Companies*

503,795

—

—

503,795

Total

investments

in

securities

$

503,795

$

—

$

—

$

503,795

Principal

LifeTime

Hybrid

2040

Fund

Investment

Companies*

520,912

—

—

520,912

Total

investments

in

securities

$

520,912

$

—

$

—

$

520,912

Principal

LifeTime

Hybrid

2045

Fund

Investment

Companies*

344,654

—

—

344,654

Total

investments

in

securities

$

344,654

$

—

$

—

$

344,654

Principal

LifeTime

Hybrid

2050

Fund

Investment

Companies*

301,466

—

—

301,466

Total

investments

in

securities

$

301,466

$

—

$

—

$

301,466

Principal

LifeTime

Hybrid

2055

Fund

Investment

Companies*

171,868

—

—

171,868

Total

investments

in

securities

$

171,868

$

—

$

—

$

171,868

July

31,

2023

(unaudited)

262

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Principal

LifeTime

Hybrid

2060

Fund

Investment

Companies*

$

82,602

$

—

$

—

$

82,602

Total

investments

in

securities

$

82,602

$

—

$

—

$

82,602

Principal

LifeTime

Hybrid

2065

Fund

Investment

Companies*

24,146

—

—

24,146

Total

investments

in

securities

$

24,146

$

—

$

—

$

24,146

Principal

LifeTime

Hybrid

2070

Fund

Investment

Companies*

284

—

—

284

Total

investments

in

securities

$

284

$

—

$

—

$

284

Principal

LifeTime

Hybrid

Income

Fund

Investment

Companies*

103,847

—

—

103,847

Total

investments

in

securities

$

103,847

$

—

$

—

$

103,847

Principal

LifeTime

Strategic

Income

Fund

Investment

Companies*

845,626

—

—

845,626

Total

investments

in

securities

$

845,626

$

—

$

—

$

845,626

Real

Estate

Securities

Fund

Common

Stocks*

5,742,692

—

—

5,742,692

Investment

Companies*

118,661

—

—

118,661

Total

investments

in

securities

$

5,861,353

$

—

$

—

$

5,861,353

SAM

Balanced

Portfolio

Investment

Companies*

4,400,698

—

—

4,400,698

Total

investments

in

securities

$

4,400,698

$

—

$

—

$

4,400,698

SAM

Conservative

Balanced

Portfolio

Investment

Companies*

1,747,642

—

—

1,747,642

Total

investments

in

securities

$

1,747,642

$

—

$

—

$

1,747,642

SAM

Conservative

Growth

Portfolio

Investment

Companies*

3,005,607

—

—

3,005,607

Total

investments

in

securities

$

3,005,607

$

—

$

—

$

3,005,607

SAM

Flexible

Income

Portfolio

Investment

Companies*

2,464,758

—

—

2,464,758

Total

investments

in

securities

$

2,464,758

$

—

$

—

$

2,464,758

SAM

Strategic

Growth

Portfolio

Investment

Companies*

2,066,466

—

—

2,066,466

Total

investments

in

securities

$

2,066,466

$

—

$

—

$

2,066,466

Short-Term

Income

Fund

Bonds*

—

2,770,748

—

2,770,748

Investment

Companies*

60,933

—

—

60,933

U.S.

Government

&

Government

Agency

Obligations*

—

252,704

—

252,704

Total

investments

in

securities

$

60,933

$

3,023,452

$

—

$

3,084,385

Derivative

Liabilities

Interest

Rate

Contracts

Futures**

(3,829)

—

—

(3,829)

SmallCap

Fund

Common

Stocks*

1,287,084

—

—

1,287,084

Investment

Companies*

13,869

—

—

13,869

Total

investments

in

securities

$

1,300,953

$

—

$

—

$

1,300,953

July

31,

2023

(unaudited)

263

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):

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

SmallCap

Growth

Fund

I

Common

Stocks

Basic

Materials

$

61,176

$

—

$

—

$

61,176

Communications

57,852

—

—

57,852

Consumer,

Cyclical

296,023

—

—

296,023

Consumer,

Non-cyclical

777,324

—

—

777,324

Energy

128,048

—

—

128,048

Financial

156,885

—

—

156,885

Industrial

409,593

—

—

409,593

Technology

474,735

—

—

474,735

Utilities

6,970

—

—

6,970

Investment

Companies*

120,134

—

—

120,134

Total

investments

in

securities

$

2,488,740

$

—

$

—

$

2,488,740

Derivative

Assets

Equity

Contracts

Futures**

87

—

—

87

SmallCap

S&P

600

Index

Fund

Common

Stocks

Basic

Materials

57,390

—

—

57,390

Communications

47,551

—

—

47,551

Consumer,

Cyclical

184,754

—

—

184,754

Consumer,

Non-cyclical

212,547

—

—

212,547

Energy

64,445

—

—

64,445

Financial

291,694

—

—

291,694

Industrial

203,119

—

—

203,119

Technology

109,763

—

—

109,763

Utilities

23,441

—

—

23,441

Investment

Companies*

31,359

—

—

31,359

Total

investments

in

securities

$

1,226,063

$

—

$

—

$

1,226,063

Derivative

Assets

Equity

Contracts

Futures**

492

—

—

492

SmallCap

Value

Fund

II

Common

Stocks

Basic

Materials

61,286

—

—

61,286

Communications

24,039

—

—

24,039

Consumer,

Cyclical

205,965

—

—

205,965

Consumer,

Non-cyclical

128,137

—

4

128,141

Energy

106,528

—

—

106,528

Financial

373,563

—

—

373,563

Government

72

—

—

72

Industrial

228,454

—

—

228,454

Technology

87,351

—

—

87,351

Utilities

46,942

—

—

46,942

Investment

Companies*

49,093

—

—

49,093

Total

investments

in

securities

$

1,311,430

$

—

$

4

$

1,311,434

Derivative

Assets

Equity

Contracts

Futures**

399

—

—

399

Tax-Exempt

Bond

Fund

Investment

Companies*

471

—

—

471

Municipal

Bonds*

—

602,895

—

602,895

Total

investments

in

securities

$

471

$

602,895

$

—

$

603,366

*For

additional

detail

regarding

sector

and/or

sub-industry

classifications,

please

see

the

schedules

of

investments.

**Exchange

cleared

swaps

and

futures

are

presented

at

the

unrealized

appreciation/(depreciation)

of

the

instrument.

July

31,

2023

(unaudited)

264

*Unobservable

inputs

were

weighted

by

the

relative

fair

value

of

the

instruments.

**During

the

period,

the

valuation

technique

for

High

Ridge

Brands

-

Escrow

changed

from

Liquidation

Analysis

driven

by

a

Discount

Rate

to

the

Expected

Recovery

of

the

escrow

shares.

***During

the

period,

the

valuation

technique

for

Arctic

Canadian

Diamond

Co

Ltd

changed

from

Enterprise

Valuation

Model

driven

by

EBITDA

Multiples

to

Liquidation

Analysis

driven

by

Discount

Rate.

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):

*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

July

31,

2023

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.

Fund

Asset

Type

Fair

Value

as

of

July

31,

2023

Valuation

Technique

Unobservable

Input

Input

Valuations

(weighted

average)*

Impact

to

Valuation

if

Input

Had

Increased

Diversified

Income

Fund

Bonds

$

80,499

Yield

Analysis

Yield

to

Maturity

12.6%

-

15.1%

(13.9%)

Increase

—

Litigation

Settlement

Proceeds

Expected

Recovery**

$0.01

Decrease

Common

Stocks

38,209

Enterprise

Valuation

Model

EBITDA

Multiples

3.8

–

6.6x

(4.8x)

Increase

Discounted

Cash

Flow

Discount

Rate

13.3%

-

16.7%

(14.5%)

Decrease

3,108

Liquidation

Analysis

Discount

Rate***

13.60%

Decrease

5

Market

Quotations

Broker

Quote

$0.10

Increase

Senior

Floating

Rate

Interests

4,510

Precedent

Transaction

Analysis

Direct

Offering

Price

$100.00

Increase

$

126,331

Fund

Fair

Value

October

31,

2022

Realized

Gain/

(Loss)

Accrued

Discounts/

Premiums

and

Change

in

Unrealized

Gain/

(Loss)

Purchases

Proceeds

from

Sales

Transfers

into

Level

3*

Transfers

Out

of

Level

3**

Value

as

of

July

31,

2023

Net

Change

in

Unrealized

Appreciation/

(Depreciation)

on

Investments

Held

at

July

31,

2023

Diversified

Income

Fund

Bonds

$

97,585

$

—

$

117

$

1,101

$

(18,304)

$

—

$

—

$

80,499

$

274

Common

Stock

49,418

40

144

—

(195)

—

(8,085)

41,322

(6)

Senior

Floating

Rates

Interests

6,85

—

(9)

5,193

(7,559)

—

—

4,510

(9)

Total

$

153,888

$

40

$

252

$

6,294

$

(26,058)

$

—

$

(8,085)

$

126,331

$

259