NPORT-EX 2 fp0066400_nportex.htm RYDEX SERIES FUNDS NQ

Banking Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Banks - 90.6%
Wells Fargo & Co.		38,180	$	1,729,172
Bank of America Corp.		41,045		1,692,285
Citigroup, Inc.		23,723		1,678,402
JPMorgan Chase & Co.		10,765		1,674,388
U.S. Bancorp		23,139		1,318,229
PNC Financial Services Group, Inc.		6,828		1,302,509
Truist Financial Corp.		22,264		1,235,652
Bank of New York Mellon Corp.		18,831		964,712
First Republic Bank		4,415		826,356
SVB Financial Group^*		1,413		786,236
State Street Corp.		9,169		754,425
Fifth Third Bancorp		19,255		736,119
Northern Trust Corp.		6,082		703,201
Huntington Bancshares, Inc.		46,772		667,437
KeyCorp		30,786		635,731
Citizens Financial Group, Inc.		13,724		629,520
Regions Financial Corp.		31,164		628,890
M&T Bank Corp.		4,169		605,797
Signature Bank		2,176		534,534
East West Bancorp, Inc.		6,441		461,755
ICICI Bank Ltd. ADR^*		26,975		461,273
Comerica, Inc.		6,314		450,441
Western Alliance Bancorporation		4,772		443,080
Royal Bank of Canada		4,364		442,117
First Horizon Corp.		25,457		439,897
HDFC Bank Ltd. ADR^*		6,013		439,671
Toronto-Dominion Bank		6,265		438,863
Bank of Nova Scotia		6,556		426,599
Popular, Inc.		5,642		423,432
Commerce Bancshares, Inc.		5,666		422,457
Zions Bancorp North America		7,977		421,664
Bank of Montreal		4,094		419,881
First Citizens BancShares, Inc. — Class A		480		399,715
Credit Suisse Group AG ADR		37,527		393,658
Canadian Imperial Bank of Commerce		3,388		385,758
HSBC Holdings plc ADR		13,347		385,061
UBS Group AG		24,883		381,705
Cullen/Frost Bankers, Inc.		3,404		381,248
Deutsche Bank AG^*		29,030		379,712
First Financial Bankshares, Inc.		7,591		372,946
Pinnacle Financial Partners, Inc.		4,224		372,937
Prosperity Bancshares, Inc.		5,073		364,241
Synovus Financial Corp.		8,180		358,938
Bank OZK		7,983		336,563
South State Corp.		4,096		334,889
Glacier Bancorp, Inc.		5,833		321,282
CIT Group, Inc.		6,189		319,291
PacWest Bancorp		7,551		310,799
Webster Financial Corp.		5,813		310,066
United Bankshares, Inc.		8,438		307,987
UMB Financial Corp.		3,247		302,166
Wintrust Financial Corp.		3,837		290,192
Umpqua Holdings Corp.		15,527		286,473
Home BancShares, Inc.		11,425		281,969
Community Bank System, Inc.		3,716		281,115
BankUnited, Inc.		6,547		279,492
Hancock Whitney Corp.		6,185		274,861
First Hawaiian, Inc.		9,650		273,481
Bank of Hawaii Corp.		3,091		260,324
Ameris Bancorp		5,138		260,137
Silvergate Capital Corp. — Class A^*		2,290		259,503
Simmons First National Corp. — Class A		8,533		250,358
Independent Bank Group, Inc.		3,382		250,200
Texas Capital Bancshares, Inc.^*		3,935		249,833
Associated Banc-Corp.		12,059		246,968
Hilltop Holdings, Inc.		6,670		242,788
BancorpSouth Bank		8,562		242,562
Old National Bancorp		13,481		237,401
United Community Banks, Inc.		7,291		233,385
Columbia Banking System, Inc.		5,988		230,897
Cadence BanCorp		10,956		228,761
Fulton Financial Corp.		14,180		223,760
First Midwest Bancorp, Inc.		10,620		210,595
Total Banks				37,108,742
Savings & Loans - 3.8%
People's United Financial, Inc.		22,190		380,336
New York Community Bancorp, Inc.		28,592		315,084
Sterling Bancorp		12,576		311,759
Pacific Premier Bancorp, Inc.		6,620		279,960
Investors Bancorp, Inc.		18,553		264,566
Total Savings & Loans				1,551,705
Diversified Financial Services - 2.9%
Capital One Financial Corp.		7,675		1,187,246
Insurance - 2.2%
Equitable Holdings, Inc.		16,769		510,616
Voya Financial, Inc.		6,295		387,142
Total Insurance				897,758
Total Common Stocks
(Cost $34,625,567)				40,745,451

	Face Amount
REPURCHASE AGREEMENTS^††,1 - 0.9%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	208,590		208,590
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		82,121		82,121
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		80,511		80,511
Total Repurchase Agreements
(Cost $371,222)				371,222
Total Investments - 100.4%
(Cost $34,996,789)			$	41,116,673
Other Assets & Liabilities, net - (0.4)%				(160,147	)
Total Net Assets - 100.0%			$	40,956,526

Banking Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Repurchase Agreements — See Note 4.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	40,745,451	$	—	$	—	$	40,745,451
Repurchase Agreements		—		371,222		—		371,222
Total Assets	$	40,745,451	$	371,222	$	—	$	41,116,673

Basic Materials Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 98.8%
Chemicals - 42.3%
Sherwin-Williams Co.		8,367	$	2,279,589
Air Products and Chemicals, Inc.		7,238		2,082,228
Ecolab, Inc.		9,824		2,023,449
Dow, Inc.		28,819		1,823,666
DuPont de Nemours, Inc.		22,009		1,703,717
PPG Industries, Inc.		9,906		1,681,742
International Flavors & Fragrances, Inc.		10,996		1,642,802
LyondellBasell Industries N.V. — Class A		15,204		1,564,036
Linde plc		4,911		1,419,770
Albemarle Corp.		7,103		1,196,571
Celanese Corp. — Class A		7,351		1,114,412
Eastman Chemical Co.		9,088		1,061,024
FMC Corp.		8,794		951,511
Mosaic Co.		29,765		949,801
RPM International, Inc.		10,180		902,762
CF Industries Holdings, Inc.		17,428		896,671
Westlake Chemical Corp.		9,831		885,675
Nutrien Ltd.¹		12,337		747,746
Olin Corp.		15,836		732,573
Axalta Coating Systems Ltd.^*		23,047		702,703
Huntsman Corp.		24,642		653,506
Chemours Co.		18,527		644,740
Valvoline, Inc.		19,705		639,624
Element Solutions, Inc.		27,209		636,146
Ashland Global Holdings, Inc.		6,962		609,175
Amyris, Inc.^*		36,070		590,466
W R Grace & Co.		8,264		571,208
Sensient Technologies Corp.		5,840		505,510
Ingevity Corp.^*		5,970		485,719
HB Fuller Co.		7,420		471,986
Danimer Scientific, Inc.^*,1		16,040		401,802
Total Chemicals				32,572,330
Mining - 20.2%
Freeport-McMoRan, Inc.		54,338		2,016,483
Newmont Corp.		29,853		1,892,083
Barrick Gold Corp.		60,735		1,256,000
Rio Tinto plc ADR		9,765		819,186
BHP Group Ltd. ADR¹		11,215		816,788
Teck Resources Ltd. — Class B		34,665		798,682
Royal Gold, Inc.		6,432		733,891
Alcoa Corp.^*		19,842		730,979
MP Materials Corp.^*,1		19,320		712,135
Wheaton Precious Metals Corp.		15,698		691,811
AngloGold Ashanti Ltd. ADR		34,249		636,346
Franco-Nevada Corp.		4,313		625,687
Agnico Eagle Mines Ltd.		10,182		615,502
Pan American Silver Corp.		21,427		612,169
First Majestic Silver Corp.¹		36,980		584,654
Kirkland Lake Gold Ltd.		15,100		581,803
Arconic Corp.^*		14,730		524,683
Livent Corp.^*		25,460		492,906
Coeur Mining, Inc.^*		43,320		384,682
Total Mining				15,526,470
Packaging & Containers - 12.4%
Ball Corp.		17,053		1,381,634
Westrock Co.		18,901		1,005,911
Crown Holdings, Inc.		9,786		1,000,227
Packaging Corporation of America		7,087		959,722
Amcor plc		80,404		921,430
Sealed Air Corp.		13,694		811,369
AptarGroup, Inc.		5,734		807,577
Berry Global Group, Inc.^*		12,179		794,314
Sonoco Products Co.		10,419		697,031
Graphic Packaging Holding Co.		34,036		617,413
Silgan Holdings, Inc.		13,782		571,953
Total Packaging & Containers				9,568,581
Iron & Steel - 10.5%
Vale S.A. ADR		71,540		1,631,827
Nucor Corp.		14,917		1,430,988
Steel Dynamics, Inc.		15,904		947,878
Cleveland-Cliffs, Inc.^*,1		40,850		880,726
Reliance Steel & Aluminum Co.		5,399		814,709
ArcelorMittal S.A.¹		24,533		761,995
United States Steel Corp.		28,307		679,368
Commercial Metals Co.		16,829		516,987
Allegheny Technologies, Inc.^*		20,306		423,380
Total Iron & Steel				8,087,858
Building Materials - 5.8%
Vulcan Materials Co.		7,520		1,309,006
Martin Marietta Materials, Inc.		3,624		1,274,960
Louisiana-Pacific Corp.		11,289		680,614
Eagle Materials, Inc.		4,670		663,654
Summit Materials, Inc. — Class A^*		16,051		559,377
Total Building Materials				4,487,611
Forest Products & Paper - 2.3%
International Paper Co.		21,463		1,315,897
Domtar Corp.^*		8,117		446,110
Total Forest Products & Paper				1,762,007
Biotechnology - 2.0%
Corteva, Inc.		34,663		1,537,304
Household Products & Housewares - 1.4%
Avery Dennison Corp.		5,307		1,115,744
Housewares - 1.2%
Scotts Miracle-Gro Co. — Class A		4,570		877,075
Distribution & Wholesale - 0.7%
Avient Corp.		11,540		567,306
Total Common Stocks
(Cost $55,766,537)				76,102,286

EXCHANGE-TRADED FUNDS^† - 0.8%
VanEck Vectors Junior Gold Miners ETF¹	12,771	597,044
Total Exchange-Traded Funds
(Cost $597,336)		597,044

Basic Materials Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Face Amount		Value
REPURCHASE AGREEMENTS^††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	273,054	$	273,054
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		107,501		107,501
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		105,393		105,393
Total Repurchase Agreements
(Cost $485,948)				485,948

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 4.8%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		3,680,716		3,680,716
Total Securities Lending Collateral
(Cost $3,680,716)				3,680,716
Total Investments - 105.0%
(Cost $60,530,537)			$	80,865,994
Other Assets & Liabilities, net - (5.0)%				(3,877,435	)
Total Net Assets - 100.0%			$	76,988,559

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	Securities lending collateral — See Note 5.
⁴	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	76,102,286	$	—	$	—	$	76,102,286
Exchange-Traded Funds		597,044		—		—		597,044
Repurchase Agreements		—		485,948		—		485,948
Securities Lending Collateral		3,680,716		—		—		3,680,716
Total Assets	$	80,380,046	$	485,948	$	—	$	80,865,994

Biotechnology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.6%
Biotechnology - 75.7%
Amgen, Inc.		40,084	$	9,770,475
Moderna, Inc.^*		36,544		8,587,109
Gilead Sciences, Inc.		112,107		7,719,688
Illumina, Inc.^*		14,813		7,009,660
Regeneron Pharmaceuticals, Inc.^*		11,656		6,510,342
Vertex Pharmaceuticals, Inc.^*		30,420		6,133,585
Biogen, Inc.^*		16,380		5,671,903
Alexion Pharmaceuticals, Inc.^*		28,770		5,285,337
Corteva, Inc.		106,911		4,741,503
Seagen, Inc.^*		28,229		4,456,794
CRISPR Therapeutics AG^*		25,300		4,095,817
Horizon Therapeutics plc^*		40,545		3,796,634
Exact Sciences Corp.^*		30,184		3,752,173
Bio-Rad Laboratories, Inc. — Class A^*		5,700		3,672,453
Alnylam Pharmaceuticals, Inc.^*		21,438		3,634,170
Novavax, Inc.^*,1		16,780		3,562,562
Incyte Corp.^*		42,214		3,551,464
BioMarin Pharmaceutical, Inc.^*		38,509		3,213,191
BioNTech SE ADR^*		13,510		3,024,619
Guardant Health, Inc.^*		23,466		2,914,242
Beam Therapeutics, Inc.^*		22,270		2,866,372
Zai Lab Ltd. ADR^*		14,690		2,599,983
BeiGene Ltd. ADR^*		7,410		2,543,038
Bridgebio Pharma, Inc.^*		40,060		2,442,058
Fate Therapeutics, Inc.^*		27,430		2,380,650
Arrowhead Pharmaceuticals, Inc.^*		28,544		2,364,014
Mirati Therapeutics, Inc.^*		14,533		2,347,515
United Therapeutics Corp.^*		12,964		2,325,871
Twist Bioscience Corp.^*		17,160		2,286,570
Acceleron Pharma, Inc.^*		18,042		2,264,090
Halozyme Therapeutics, Inc.^*		47,250		2,145,622
Biohaven Pharmaceutical Holding Company Ltd.^*		21,560		2,093,045
Ultragenyx Pharmaceutical, Inc.^*		21,759		2,074,721
Editas Medicine, Inc.^*		35,580		2,015,251
Ionis Pharmaceuticals, Inc.^*		50,319		2,007,225
TG Therapeutics, Inc.^*		50,160		1,945,706
Blueprint Medicines Corp.^*		21,690		1,907,852
Exelixis, Inc.^*		97,663		1,779,420
Arena Pharmaceuticals, Inc.^*		24,800		1,691,360
Iovance Biotherapeutics, Inc.^*		64,674		1,682,817
ACADIA Pharmaceuticals, Inc.^*		64,613		1,575,911
Sage Therapeutics, Inc.^*		26,716		1,517,736
Emergent BioSolutions, Inc.^*		23,906		1,505,839
PTC Therapeutics, Inc.^*		32,748		1,384,258
Veracyte, Inc.^*		34,450		1,377,311
Amicus Therapeutics, Inc.^*		132,550		1,277,782
Bluebird Bio, Inc.^*		37,115		1,186,938
Global Blood Therapeutics, Inc.^*		33,635		1,177,898
Inovio Pharmaceuticals, Inc.^*,1		126,450		1,172,191
ChemoCentryx, Inc.^*		58,930		789,073
Total Biotechnology				157,831,838
Pharmaceuticals - 14.5%
AbbVie, Inc.		101,742		11,460,219
Intellia Therapeutics, Inc.^*		24,500		3,966,795
Viatris, Inc.		235,567		3,366,252
Jazz Pharmaceuticals plc^*		16,559		2,941,541
PRA Health Sciences, Inc.^*		16,154		2,668,802
Neurocrine Biosciences, Inc.^*		25,446		2,476,405
Sarepta Therapeutics, Inc.^*		25,899		2,013,388
Pacira BioSciences, Inc.^*		22,151		1,344,123
Total Pharmaceuticals				30,237,525
Healthcare-Products - 6.1%
Bio-Techne Corp.		7,725		3,478,258
Novocure Ltd.^*		12,863		2,853,271
Natera, Inc.^*		23,950		2,719,043
Adaptive Biotechnologies Corp.^*		48,710		1,990,291
CareDx, Inc.^*		19,480		1,782,810
Total Healthcare-Products				12,823,673
Healthcare-Services - 3.3%
Syneos Health, Inc.^*		28,604		2,559,772
Invitae Corp.^*,1		64,550		2,177,272
Medpace Holdings, Inc.^*		11,621		2,052,617
Total Healthcare-Services				6,789,661
Total Common Stocks
(Cost $108,128,482)				207,682,697

RIGHTS^††† - 0.0%
Biotechnology - 0.0%
Clinical Data, Inc.	24,000	–
Total Rights
(Cost $–)		–

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	745,038	745,038
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		293,321	293,321
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		287,570	287,570
Total Repurchase Agreements
(Cost $1,325,929)			1,325,929

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 1.7%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		3,575,002		3,575,002
Total Securities Lending Collateral
(Cost $3,575,002)				3,575,002
Total Investments - 101.9%
(Cost $113,029,413)			$	212,583,628
Other Assets & Liabilities, net - (1.9)%				(4,002,505	)
Total Net Assets - 100.0%			$	208,581,123

Biotechnology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
^†††	Value determined based on Level 3 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	Securities lending collateral — See Note 5.
⁴	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	207,682,697	$	—	$	—		$	207,682,697
Rights		—		—		—	*		—
Repurchase Agreements		—		1,325,929		—			1,325,929
Securities Lending Collateral		3,575,002		—		—			3,575,002
Total Assets	$	211,257,699	$	1,325,929	$	—		$	212,583,628

Security has a market value of $0.

Consumer Products Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.8%
Food - 36.2%
Mondelez International, Inc. — Class A		58,072	$	3,626,016
Kraft Heinz Co.		67,005		2,732,464
Sysco Corp.		31,943		2,483,568
General Mills, Inc.		38,913		2,370,969
Hershey Co.		13,454		2,343,418
Kroger Co.		54,142		2,074,180
Tyson Foods, Inc. — Class A		27,374		2,019,106
Hormel Foods Corp.		41,251		1,969,735
McCormick & Company, Inc.		21,516		1,900,293
Kellogg Co.		28,295		1,820,217
Conagra Brands, Inc.		44,737		1,627,532
Campbell Soup Co.		31,725		1,446,343
J M Smucker Co.		11,091		1,437,061
Lamb Weston Holdings, Inc.		16,703		1,347,264
Beyond Meat, Inc.^*,1		7,990		1,258,345
US Foods Holding Corp.^*		30,237		1,159,891
Post Holdings, Inc.^*		9,331		1,012,134
Performance Food Group Co.^*		20,767		1,006,992
Ingredion, Inc.		10,538		953,689
Flowers Foods, Inc.		36,363		879,985
Sanderson Farms, Inc.		4,597		864,098
Hain Celestial Group, Inc.^*		19,092		765,971
Grocery Outlet Holding Corp.^*		20,304		703,737
Sprouts Farmers Market, Inc.^*		25,344		629,798
Total Food				38,432,806
Beverages - 26.3%
Coca-Cola Co.		109,113		5,904,104
PepsiCo, Inc.		37,572		5,567,043
Keurig Dr Pepper, Inc.		78,960		2,782,550
Monster Beverage Corp.^*		29,430		2,688,431
Constellation Brands, Inc. — Class A		11,275		2,637,110
Brown-Forman Corp. — Class B		30,867		2,313,173
Boston Beer Company, Inc. — Class A^*		1,385		1,413,808
Molson Coors Beverage Co. — Class B^*		24,259		1,302,466
Coca-Cola Europacific Partners plc		15,193		901,249
Anheuser-Busch InBev S.A. ADR		12,229		880,610
Diageo plc ADR		3,920		751,425
Fomento Economico Mexicano SAB de CV ADR		8,754		739,801
Total Beverages				27,881,770
Cosmetics & Personal Care - 13.8%
Procter & Gamble Co.		52,656		7,104,874
Estee Lauder Companies, Inc. — Class A		13,538		4,306,167
Colgate-Palmolive Co.		39,465		3,210,478
Total Cosmetics & Personal Care				14,621,519
Agriculture - 13.4%
Philip Morris International, Inc.		48,634		4,820,115
Altria Group, Inc.		77,397		3,690,289
Archer-Daniels-Midland Co.		36,993		2,241,776
Darling Ingredients, Inc.^*		19,380		1,308,150
Bunge Ltd.		16,594		1,296,821
British American Tobacco plc ADR		20,954		823,702
Total Agriculture				14,180,853
Household Products & Housewares - 5.9%
Kimberly-Clark Corp.		19,841		2,654,329
Clorox Co.		10,370		1,865,667
Church & Dwight Company, Inc.		20,871		1,778,626
Total Household Products & Housewares				6,298,622
Retail - 2.0%
Freshpet, Inc.^*		6,346		1,034,144
Casey's General Stores, Inc.		5,272		1,026,142
Total Retail				2,060,286
Pharmaceuticals - 0.9%
Herbalife Nutrition Ltd.^*		18,668		984,364
Commercial Services - 0.7%
Medifast, Inc.		2,580		730,088
Electrical Components & Equipment - 0.6%
Energizer Holdings, Inc.		15,506		666,448
Total Common Stocks
(Cost $50,232,858)				105,856,756

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.3%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	156,706	156,706
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		61,695	61,695
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		60,485	60,485
Total Repurchase Agreements
(Cost $278,886)			278,886

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 0.4%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		460,941		460,941
Total Securities Lending Collateral
(Cost $460,941)				460,941
Total Investments - 100.5%
(Cost $50,972,685)			$	106,596,583
Other Assets & Liabilities, net - (0.5)%				(478,891	)
Total Net Assets - 100.0%			$	106,117,692

Consumer Products Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	Securities lending collateral — See Note 5.
⁴	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	105,856,756	$	—	$	—	$	105,856,756
Repurchase Agreements		—		278,886		—		278,886
Securities Lending Collateral		460,941		—		—		460,941
Total Assets	$	106,317,697	$	278,886	$	—	$	106,596,583

Dow Jones Industrial Average^® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 90.0%
Financial - 18.6%
Goldman Sachs Group, Inc.		4,313	$	1,636,913
Visa, Inc. — Class A		4,313		1,008,466
American Express Co.		4,313		712,637
JPMorgan Chase & Co.		4,313		670,844
Travelers Companies, Inc.		4,313		645,699
Total Financial				4,674,559
Consumer, Non-cyclical - 18.5%
UnitedHealth Group, Inc.		4,313		1,727,098
Amgen, Inc.		4,313		1,051,294
Johnson & Johnson		4,313		710,524
Procter & Gamble Co.		4,313		581,953
Merck & Company, Inc.		4,313		335,422
Coca-Cola Co.		4,313		233,376
Total Consumer, Non-cyclical				4,639,667
Consumer, Cyclical - 15.4%
Home Depot, Inc.		4,313		1,375,373
McDonald's Corp.		4,313		996,260
NIKE, Inc. — Class B		4,313		666,315
Walmart, Inc.		4,313		608,219
Walgreens Boots Alliance, Inc.		4,313		226,907
Total Consumer, Cyclical				3,873,074
Industrial - 15.0%
Boeing Co.^*		4,313		1,033,222
Honeywell International, Inc.		4,313		946,057
Caterpillar, Inc.		4,313		938,638
3M Co.		4,313		856,691
Total Industrial				3,774,608
Technology - 14.7%
Microsoft Corp.		4,313		1,168,392
salesforce.com, Inc.^*		4,313		1,053,536
International Business Machines Corp.		4,313		632,243
Apple, Inc.		4,313		590,708
Intel Corp.		4,313		242,132
Total Technology				3,687,011
Communications - 4.9%
Walt Disney Co.^*		4,313		758,096
Verizon Communications, Inc.		4,313		241,657
Cisco Systems, Inc.		4,313		228,589
Total Communications				1,228,342
Energy - 1.8%
Chevron Corp.		4,313		451,744
Basic Materials - 1.1%
Dow, Inc.		4,313		272,927
Total Common Stocks
(Cost $16,441,100)				22,601,932

MUTUAL FUNDS^† - 8.2%
Guggenheim Strategy Fund II¹	57,491	1,436,704
Guggenheim Ultra Short Duration Fund — Institutional Class¹	62,558	623,706
Total Mutual Funds
(Cost $2,045,530)		2,060,410

	Face Amount
U.S. TREASURY BILLS^†† - 1.5%
U.S. Treasury Bills
0.04% due 12/09/21^2,3	$	300,000	299,929
0.01% due 08/03/21³		73,000	72,997
Total U.S. Treasury Bills
(Cost $372,948)			372,926

REPURCHASE AGREEMENTS^††,4 - 0.3%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	47,988		47,988
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21	18,893		18,893
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21	18,523		18,523
Total Repurchase Agreements
(Cost $85,404)			85,404
Total Investments - 100.0%
(Cost $18,944,982)		$	25,120,672
Other Assets & Liabilities, net - 0.0%			2,610
Total Net Assets - 100.0%		$	25,123,282

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements^††

BNP Paribas

Dow Jones Industrial Average Index

0.59% (1 Month USD LIBOR + 0.50%)

At Maturity

07/15/21

902,520

13,942

Barclays Bank plc

Dow Jones Industrial Average Index

0.59% (1 Week USD LIBOR + 0.50%)

At Maturity

07/14/21

1,676,439

9,228

2,578,959

23,170

Dow Jones Industrial Average^® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
³	Rate indicated is the effective yield at the time of purchase.
⁴	Repurchase Agreements — See Note 4.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	22,601,932	$	—	$	—	$	22,601,932
Mutual Funds		2,060,410		—		—		2,060,410
U.S. Treasury Bills		—		372,926		—		372,926
Repurchase Agreements		—		85,404		—		85,404
Equity Index Swap Agreements**		—		23,170		—		23,170
Total Assets	$	24,662,342	$	481,500	$	—	$	25,143,842

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Investments representing 5% or more of the outstanding voting shares of a company, or control of or by, or common control under Guggenheim Investments (“GI”), result in that company being considered an affiliated issuer, as defined in the 1940 Act.

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2020, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126820000133/gug81042-ncsr.htm.

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions			Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,835,969	$	–	$	(400,000	)	$	2,904	$	(2,169	)	$	1,436,704		57,491	$	6,296
Guggenheim Ultra Short Duration Fund — Institutional Class		623,081		–		–			–		625			623,706		62,558		1,449
	$	2,459,050	$	–	$	(400,000	)	$	2,904	$	(1,544	)	$	2,060,410			$	7,745

Electronics Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.4%
Semiconductors - 88.7%
NVIDIA Corp.		4,327	$	3,462,033
Intel Corp.		39,795		2,234,091
Broadcom, Inc.		4,420		2,107,633
Texas Instruments, Inc.		10,504		2,019,919
QUALCOMM, Inc.		13,671		1,953,996
Applied Materials, Inc.		12,218		1,739,843
Advanced Micro Devices, Inc.^*		17,952		1,686,231
Micron Technology, Inc.^*		17,659		1,500,662
Lam Research Corp.		2,235		1,454,314
Analog Devices, Inc.		7,055		1,214,589
Taiwan Semiconductor Manufacturing Company Ltd. ADR		10,065		1,209,410
KLA Corp.		3,287		1,065,678
Marvell Technology, Inc.		18,260		1,065,106
NXP Semiconductor N.V.		4,944		1,017,080
Microchip Technology, Inc.		6,389		956,689
Xilinx, Inc.		6,454		933,507
Skyworks Solutions, Inc.		4,632		888,186
Maxim Integrated Products, Inc.		7,660		807,058
ASML Holding N.V. — Class G		1,121		774,432
Qorvo, Inc.^*		3,730		729,774
Teradyne, Inc.		5,364		718,561
Monolithic Power Systems, Inc.		1,699		634,491
Entegris, Inc.		5,036		619,277
ON Semiconductor Corp.^*		16,087		615,810
Cree, Inc.^*		5,256		514,720
MKS Instruments, Inc.		2,659		473,169
Lattice Semiconductor Corp.^*		7,710		433,148
STMicroelectronics N.V. — Class Y		11,429		415,787
Silicon Laboratories, Inc.^*		2,655		406,879
Brooks Automation, Inc.		4,142		394,650
Synaptics, Inc.^*		2,316		360,323
Cirrus Logic, Inc.^*		4,003		340,735
Power Integrations, Inc.		4,061		333,246
Semtech Corp.^*		4,701		323,429
CMC Materials, Inc.		2,081		313,690
Ambarella, Inc.^*		2,844		303,256
Total Semiconductors				36,021,402
Energy-Alternate Sources - 8.2%
Enphase Energy, Inc.^*		4,335		796,036
JinkoSolar Holding Company Ltd. ADR^*,1		10,546		590,787
SolarEdge Technologies, Inc.^*		2,131		588,945
First Solar, Inc.^*		5,510		498,710
Canadian Solar, Inc.^*,1		10,908		489,115
SunPower Corp. — Class A^*,1		12,033		351,604
Total Energy-Alternate Sources				3,315,197
Chemicals - 1.3%
Daqo New Energy Corp. ADR^*		7,938		516,129
Electrical Components & Equipment - 1.2%
Universal Display Corp.		2,216		492,683
Total Common Stocks
(Cost $16,156,485)				40,345,411

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	156,655	156,655
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		61,675	61,675
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		60,466	60,466
Total Repurchase Agreements
(Cost $278,796)			278,796

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 2.5%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		999,118		999,118
Total Securities Lending Collateral
(Cost $999,118)				999,118
Total Investments - 102.6%
(Cost $17,434,399)			$	41,623,325
Other Assets & Liabilities, net - (2.6)%				(1,037,811	)
Total Net Assets - 100.0%			$	40,585,514

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	Securities lending collateral — See Note 5.
⁴	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

Electronics Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	40,345,411	$	—	$	—	$	40,345,411
Repurchase Agreements		—		278,796		—		278,796
Securities Lending Collateral		999,118		—		—		999,118
Total Assets	$	41,344,529	$	278,796	$	—	$	41,623,325

Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 82.4%
Communications - 28.8%
Alibaba Group Holding Ltd. ADR^*		7,032	$	1,594,717
JD.com, Inc. ADR^*		3,647		291,067
Baidu, Inc. ADR^*		1,108		225,921
Pinduoduo, Inc. ADR^*		1,426		181,130
America Movil SAB de CV — Class L ADR		4,771		71,565
Trip.com Group Ltd. ADR^*		1,876		66,523
Chunghwa Telecom Company Ltd. ADR		1,545		62,820
Telkom Indonesia Persero Tbk PT ADR		1,932		41,867
SK Telecom Company Ltd. ADR		1,291		40,550
GDS Holdings Ltd. ADR^*		464		36,419
Vipshop Holdings Ltd. ADR^*		1,611		32,349
Total Communications				2,644,928
Technology - 25.7%
Taiwan Semiconductor Manufacturing Company Ltd. ADR		12,983		1,560,038
Infosys Ltd. ADR		14,890		315,519
NetEase, Inc. ADR		1,629		187,742
Bilibili, Inc. ADR^*		883		107,585
United Microelectronics Corp. ADR¹		9,389		88,726
ASE Technology Holding Company Ltd. ADR		6,941		55,875
Wipro Ltd. ADR		5,789		45,212
Total Technology				2,360,697
Financial - 9.8%
HDFC Bank Ltd. ADR^*		5,189		379,420
ICICI Bank Ltd. ADR^*		10,403		177,891
Banco Bradesco S.A. ADR		19,703		101,076
KB Financial Group, Inc. ADR		1,588		78,288
Shinhan Financial Group Company Ltd. ADR		2,099		75,249
China Life Insurance Company Ltd. ADR¹		6,048		60,178
KE Holdings, Inc. ADR^*		650		30,992
Total Financial				903,094
Basic Materials - 6.5%
Vale S.A. ADR		13,958		318,382
POSCO ADR		1,304		100,108
Sibanye Stillwater Ltd. ADR		2,822		47,212
Sasol Ltd. ADR^*		2,347		35,980
Suzano S.A. ADR^*		2,877		34,639
Gold Fields Ltd. ADR		3,607		32,102
AngloGold Ashanti Ltd. ADR		1,696		31,512
Total Basic Materials				599,935
Consumer, Non-cyclical - 4.4%
Fomento Economico Mexicano SAB de CV ADR		755		63,805
Ambev S.A. ADR		17,909		61,607
BeiGene Ltd. ADR^*		160		54,910
Zai Lab Ltd. ADR^*		299		52,920
New Oriental Education & Technology Group, Inc. ADR^*		6,130		50,205
TAL Education Group ADR^*		1,623		40,948
Natura & Company Holding S.A. ADR^*,1		1,706		38,709
Dr Reddy's Laboratories Ltd. ADR		493		36,241
Total Consumer, Non-cyclical				399,345
Consumer, Cyclical - 3.9%
NIO, Inc. ADR^*		5,534		294,409
Tata Motors Ltd. ADR^*		1,538		35,036
Huazhu Group Ltd. ADR^*		593		31,316
Total Consumer, Cyclical				360,761
Energy - 2.1%
Petroleo Brasileiro S.A. ADR		7,561		92,471
China Petroleum & Chemical Corp. ADR		1,037		52,897
PetroChina Company Ltd. ADR		857		42,019
Total Energy				187,387
Industrial - 1.2%
ZTO Express Cayman, Inc. ADR		1,918		58,211
Cemex SAB de CV ADR^*		6,151		51,669
Total Industrial				109,880
Total Common Stocks
(Cost $6,634,596)				7,566,027

PREFERRED STOCKS^† - 2.5%
Financial - 1.3%
Itau Unibanco Holding S.A. ADR	19,692	118,349
Energy - 1.2%
Petroleo Brasileiro S.A. ADR	9,334	110,234
Total Preferred Stocks
(Cost $190,068)		228,583

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 15.3%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21³	$	787,367	787,367
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21³		309,985	309,985
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21³		303,907	303,907
Total Repurchase Agreements
(Cost $1,401,259)			1,401,259

	Shares
SECURITIES LENDING COLLATERAL^†,4 - 1.2%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁵		113,134		113,134
Total Securities Lending Collateral
(Cost $113,134)				113,134
Total Investments - 101.4%
(Cost $8,339,057)			$	9,309,003
Other Assets & Liabilities, net - (1.4)%				(130,941	)
Total Net Assets - 100.0%			$	9,178,062

Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements^††

Goldman Sachs International

BNY Mellon Emerging Markets 50 ADR Index

0.64% (1 Week USD LIBOR + 0.55%)

At Maturity

07/15/21

1,801

6,683,888

238,353

BNP Paribas

BNY Mellon Emerging Markets 50 ADR Index

0.69% (1 Month USD LIBOR + 0.60%)

At Maturity

07/15/21

1,038

3,850,753

147,682

10,534,641

386,035

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
⁴	Securities lending collateral — See Note 5.
⁵	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

LIBOR — London Interbank Offered Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	7,566,027	$	—	$	—	$	7,566,027
Preferred Stocks		228,583		—		—		228,583
Repurchase Agreements		—		1,401,259		—		1,401,259
Securities Lending Collateral		113,134		—		—		113,134
Equity Index Swap Agreements**		—		386,035		—		386,035
Total Assets	$	7,907,744	$	1,787,294	$	—	$	9,695,038

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Emerging Markets Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Face Amount		Value
U.S. TREASURY BILLS^†† - 0.5%
U.S. Treasury Bills
0.01% due 08/03/21^1,2	$	4,000	$	4,000
Total U.S. Treasury Bills
(Cost $4,000)				4,000

REPURCHASE AGREEMENTS^††,3 - 89.7%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21⁴	384,413		384,413
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21⁴	151,343		151,343
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21⁴	148,375		148,375
Total Repurchase Agreements
(Cost $684,131)			684,131
Total Investments - 90.2%
(Cost $688,131)		$	688,131
Other Assets & Liabilities, net - 9.8%			74,835
Total Net Assets - 100.0%		$	762,966

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)^**
Interest Rate Futures Contracts Purchased^†
U.S. Treasury 10 Year Note Futures Contracts		1	Sep 2021	$	132,422	$	678
U.S. Treasury 5 Year Note Futures Contracts		2	Sep 2021		246,797		(635	)
				$	379,219	$	43

Centrally Cleared Credit Default Swap Agreements Protection Sold^††
Counterparty	Exchange	Index	Protection Premium Rate		Payment Frequency	Maturity Date	Notional Amount		Value			Upfront Premiums Received			Unrealized Appreciation^**
Barclays Bank plc	ICE	CDX.EM.35.V1	1.00	%	Quarterly	06/20/26	$	500,000	$	(13,088	)	$	(17,021	)	$	3,933

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Credit Index Swap Agreements^††

Goldman Sachs International

Invesco Emerging Markets Sovereign Debt ETF

0.64% (1 Week USD LIBOR + 0.55%)

At Maturity

07/29/21

11,935

329,645

597

^**	Includes cumulative appreciation (depreciation).
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is pledged as futures collateral at June 30, 2021.
²	Rate indicated is the effective yield at the time of purchase.
³	Repurchase Agreements — See Note 4.
⁴	All or a portion of this security is pledged as credit index swap collateral at June 30, 2021.

Emerging Markets Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

CDX.EM.35.V1 — Credit Default Swap Emerging Markets Series 35 Index Version 1

ICE — Intercontinental Exchange

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Treasury Bills	$	—	$	4,000	$	—	$	4,000
Repurchase Agreements		—		684,131		—		684,131
Interest Rate Futures Contracts**		678		—		—		678
Credit Default Swap Agreements**		—		3,933		—		3,933
Credit Index Swap Agreements**		—		597		—		597
Total Assets	$	678	$	692,661	$	—	$	693,339

Investments in Securities (Liabilities)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Interest Rate Futures Contracts**		$	635			$	—			$	—			$	635

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Energy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Oil & Gas - 71.4%
Exxon Mobil Corp.		80,921	$	5,104,497
Chevron Corp.		41,598		4,356,975
ConocoPhillips		46,826		2,851,703
EOG Resources, Inc.		26,208		2,186,796
Pioneer Natural Resources Co.		12,193		1,981,606
Marathon Petroleum Corp.		32,038		1,935,736
Phillips 66		22,012		1,889,070
Occidental Petroleum Corp.		56,315		1,760,970
Valero Energy Corp.		22,336		1,743,995
Hess Corp.		18,589		1,623,191
Devon Energy Corp.		48,508		1,415,949
Diamondback Energy, Inc.		14,130		1,326,666
Continental Resources, Inc.		32,068		1,219,546
Petroleo Brasileiro S.A. ADR		98,168		1,200,595
Texas Pacific Land Corp.		700		1,119,818
BP plc ADR		37,960		1,002,903
Ovintiv, Inc.		29,141		917,067
APA Corp.		41,408		895,655
Cimarex Energy Co.		12,251		887,585
Cabot Oil & Gas Corp. — Class A		49,075		856,849
Equities Corp.^*		36,141		804,499
Royal Dutch Shell plc — Class A ADR¹		17,795		718,918
HollyFrontier Corp.		21,473		706,462
Matador Resources Co.		18,526		667,121
PDC Energy, Inc.		14,305		655,026
Suncor Energy, Inc.		25,048		600,401
Murphy Oil Corp.		25,238		587,541
Helmerich & Payne, Inc.		17,967		586,263
SM Energy Co.		23,150		570,184
Callon Petroleum Co.^*,1		9,620		554,978
Canadian Natural Resources Ltd.		14,755		535,311
CNX Resources Corp.^*		39,134		534,570
PBF Energy, Inc. — Class A^*		26,890		411,417
Delek US Holdings, Inc.		18,236		394,262
Equinor ASA ADR¹		16,902		358,322
Total Oil & Gas				44,962,447
Pipelines - 14.6%
Kinder Morgan, Inc.		108,899		1,985,229
Williams Companies, Inc.		65,766		1,746,087
ONEOK, Inc.		28,083		1,562,538
Cheniere Energy, Inc.^*		16,776		1,455,150
Targa Resources Corp.		21,983		977,144
Enbridge, Inc.		16,048		642,562
TC Energy Corp.		11,475		568,242
Pembina Pipeline Corp.		7,876		250,221
Total Pipelines				9,187,173
Oil & Gas Services - 10.2%
Schlumberger N.V.		64,257		2,056,867
Baker Hughes Co.		64,537		1,475,961
Halliburton Co.		61,278		1,416,747
NOV, Inc.^*		48,342		740,600
ChampionX Corp.^*		26,846		688,600
Total Oil & Gas Services				6,378,775
Energy-Alternate Sources - 1.4%
Renewable Energy Group, Inc.^*		8,218		512,310
Green Plains, Inc.^*		11,470		385,622
Total Energy-Alternate Sources				897,932
Mining - 0.7%
Cameco Corp.		23,661		453,818
Retail - 0.7%
World Fuel Services Corp.		13,569		430,544
Metal Fabricate & Hardware - 0.5%
Tenaris S.A. ADR		12,880		282,072
Total Common Stocks
(Cost $48,650,499)				62,592,761

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.8%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	297,469	297,469
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		117,113	117,113
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		114,817	114,817
Total Repurchase Agreements
(Cost $529,399)			529,399

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 1.8%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		1,164,576		1,164,576
Total Securities Lending Collateral
(Cost $1,164,576)				1,164,576
Total Investments - 102.1%
(Cost $50,344,474)			$	64,286,736
Other Assets & Liabilities, net - (2.1)%				(1,323,514	)
Total Net Assets - 100.0%			$	62,963,222

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	Securities lending collateral — See Note 5.
⁴	Rate indicated is the 7-day yield as of June 30, 2021.

Energy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	62,592,761	$	—	$	—	$	62,592,761
Repurchase Agreements		—		529,399		—		529,399
Securities Lending Collateral		1,164,576		—		—		1,164,576
Total Assets	$	63,757,337	$	529,399	$	—	$	64,286,736

Energy Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Oil & Gas Services - 78.3%
Schlumberger N.V.		177,261	$	5,674,125
Baker Hughes Co.		178,019		4,071,295
Halliburton Co.		169,030		3,907,974
NOV, Inc.^*		133,347		2,042,876
ChampionX Corp.^*		77,588		1,990,132
Liberty Oilfield Services, Inc. — Class A^*		105,167		1,489,165
TechnipFMC plc^*		148,198		1,341,192
Oceaneering International, Inc.^*		74,088		1,153,550
Archrock, Inc.		123,199		1,097,703
Dril-Quip, Inc.^*		28,948		979,311
DMC Global, Inc.^*		17,174		965,351
US Silica Holdings, Inc.^*		76,507		884,421
Core Laboratories N.V.		21,923		853,901
ProPetro Holding Corp.^*		92,775		849,819
Bristow Group, Inc.^*		30,563		782,718
Oil States International, Inc.^*		82,178		645,097
Solaris Oilfield Infrastructure, Inc. — Class A		65,433		637,317
Matrix Service Co.^*		45,179		474,379
Total Oil & Gas Services				29,840,326
Oil & Gas - 10.4%
Helmerich & Payne, Inc.		54,528		1,779,248
Patterson-UTI Energy, Inc.		128,801		1,280,282
Nabors Industries Ltd.^*		7,807		891,872
Total Oil & Gas				3,951,402
Machinery-Diversified - 3.9%
Cactus, Inc. — Class A		40,654		1,492,815
Metal Fabricate & Hardware - 2.8%
Tenaris S.A. ADR		47,655		1,043,645
Retail - 2.5%
Aspen Aerogels, Inc.^*		32,300		966,416
Transportation - 1.6%
Tidewater, Inc.^*		51,646		622,334
Total Common Stocks
(Cost $31,955,427)				37,916,938

WARRANTS^† - 0.1%
Nabors Industries Ltd.
Expiring 06/11/26^*	3,018	30,180
Total Warrants
(Cost $0)		30,180

	Face Amount
REPURCHASE AGREEMENTS^††,1 - 0.5%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	101,419		101,419
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		39,928		39,928
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		39,146		39,146
Total Repurchase Agreements
(Cost $180,493)				180,493
Total Investments - 100.1%
(Cost $32,135,920)			$	38,127,611
Other Assets & Liabilities, net - (0.1)%				(42,072	)
Total Net Assets - 100.0%			$	38,085,539

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Repurchase Agreements — See Note 4.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	37,916,938	$	—	$	—	$	37,916,938
Warrants		30,180		—		—		30,180
Repurchase Agreements		—		180,493		—		180,493
Total Assets	$	37,947,118	$	180,493	$	—	$	38,127,611

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 6.0%
Consumer, Non-cyclical - 2.5%
Nestle S.A. ADR		274	$	34,179
Roche Holding AG ADR		535		25,140
Novartis AG ADR		235		21,441
AstraZeneca plc ADR¹		251		15,035
Unilever plc ADR		251		14,683
Novo Nordisk A/S ADR		158		13,236
Sanofi ADR		218		11,480
Diageo plc ADR		56		10,735
L'Oreal S.A. ADR		117		10,459
GlaxoSmithKline plc ADR		236		9,397
British American Tobacco plc ADR		203		7,980
Adyen N.V. ADR^*		134		6,585
Reckitt Benckiser Group plc ADR¹		346		6,193
Anheuser-Busch InBev S.A. ADR		81		5,833
Bayer AG ADR		374		5,700
RELX plc ADR		189		5,040
Total Consumer, Non-cyclical				203,116
Financial - 0.7%
HSBC Holdings plc ADR		396		11,425
Allianz SE ADR		393		9,821
BNP Paribas S.A. ADR		220		6,890
Zurich Insurance Group AG ADR		143		5,756
UBS Group AG		331		5,077
AXA S.A. ADR		196		4,988
Intesa Sanpaolo SpA ADR		290		4,849
Prudential plc ADR¹		125		4,763
Total Financial				53,569
Industrial - 0.5%
Siemens AG ADR		142		11,309
Schneider Electric SE ADR		271		8,561
Airbus SE ADR^*		223		7,181
Vinci S.A. ADR		225		6,020
ABB Ltd. ADR		167		5,676
Safran S.A. ADR		145		5,034
Total Industrial				43,781
Basic Materials - 0.5%
Linde plc		49		14,166
Rio Tinto plc ADR		101		8,473
Air Liquide S.A. ADR		226		7,942
BASF SE ADR¹		351		6,960
BHP Group plc ADR		100		5,969
Total Basic Materials				43,510
Technology - 0.5%
ASML Holding N.V. — Class G		40		27,634
SAP SE ADR		104		14,608
Total Technology				42,242
Consumer, Cyclical - 0.5%
LVMH Moet Hennessy Louis Vuitton SE ADR		126		19,883
Daimler AG ADR		321		7,185
adidas AG ADR		36		6,724
Kering S.A. ADR		70		6,136
Total Consumer, Cyclical				39,928
Energy - 0.4%
TotalEnergies SE ADR		251		11,360
BP plc ADR		319		8,428
Royal Dutch Shell plc — Class A ADR¹		195		7,878
Total Energy				27,666
Utilities - 0.2%
Enel SpA ADR		742		6,878
Iberdrola S.A. ADR		139		6,791
National Grid plc ADR		67		4,284
Total Utilities				17,953
Communications - 0.2%
Deutsche Telekom AG ADR		308		6,548
Vodafone Group plc ADR		270		4,625
Prosus N.V. ADR		212		4,155
Total Communications				15,328
Total Common Stocks
(Cost $394,928)				487,093

MUTUAL FUNDS^† - 6.9%
Guggenheim Ultra Short Duration Fund — Institutional Class²	27,782	276,983
Guggenheim Strategy Fund II²	11,082	276,947
Total Mutual Funds
(Cost $552,516)		553,930

	Face Amount
U.S. TREASURY BILLS^†† - 10.5%
U.S. Treasury Bills
0.03% due 08/03/21^3,4	$	657,000	656,972
0.01% due 08/03/21^3,4		193,000	192,991
Total U.S. Treasury Bills
(Cost $849,977)			849,963

REPURCHASE AGREEMENTS^††,5 - 39.3%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	1,785,787	1,785,787
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21	703,063	703,063
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21	689,277	689,277
Total Repurchase Agreements
(Cost $3,178,127)		3,178,127

	Shares
SECURITIES LENDING COLLATERAL^†,6 - 0.3%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁷		23,505		23,505
Total Securities Lending Collateral
(Cost $23,505)				23,505
Total Investments - 63.0%
(Cost $4,999,053)			$	5,092,618
Other Assets & Liabilities, net - 37.0%				2,986,078
Total Net Assets - 100.0%			$	8,078,696

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation^**
Currency Futures Contracts Purchased^†
Euro FX Futures Contracts		65	Sep 2021	$	9,649,656	$	(33,172	)

Equity Futures Contracts Purchased^†
STOXX 50 Index Futures Contracts		231	Sep 2021		9,609,929		(44,764	)

^*	Non-income producing security.
^**	Includes cumulative appreciation (depreciation).
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Affiliated issuer.
³	All or a portion of this security is pledged as futures collateral at June 30, 2021.
⁴	Rate indicated is the effective yield at the time of purchase.
⁵	Repurchase Agreements — See Note 4.
⁶	Securities lending collateral — See Note 5.
⁷	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	487,093	$	—	$	—	$	487,093
Mutual Funds		553,930		—		—		553,930
U.S. Treasury Bills		—		849,963		—		849,963
Repurchase Agreements		—		3,178,127		—		3,178,127
Securities Lending Collateral		23,505		—		—		23,505
Total Assets	$	1,064,528	$	4,028,090	$	—	$	5,092,618

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	44,764	$	—	$	—	$	44,764
Currency Futures Contracts**		33,172		—		—		33,172
Total Liabilities	$	77,936	$	—	$	—	$	77,936

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	276,836	$	–	$	–	$	–	$	111	$	276,947		11,082	$	984
Guggenheim Ultra Short Duration Fund — Institutional Class		276,705		–		–		–		278		276,983		27,782		643
	$	553,541	$	–	$	–	$	–	$	389	$	553,930			$	1,627

Financial Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
REITS - 28.2%
American Tower Corp. — Class A		1,448	$	391,163
Prologis, Inc.		2,757		329,544
Crown Castle International Corp.		1,668		325,427
Equinix, Inc.		365		292,949
Public Storage		861		258,894
Simon Property Group, Inc.		1,796		234,342
Digital Realty Trust, Inc.		1,531		230,354
Welltower, Inc.		2,561		212,819
SBA Communications Corp.		656		209,067
AvalonBay Communities, Inc.		913		190,534
Equity Residential		2,444		188,188
Alexandria Real Estate Equities, Inc.		1,028		187,034
Weyerhaeuser Co.		5,276		181,600
Realty Income Corp.		2,630		175,526
Extra Space Storage, Inc.		1,019		166,933
Ventas, Inc.		2,865		163,592
Invitation Homes, Inc.		4,377		163,218
Mid-America Apartment Communities, Inc.		920		154,946
Essex Property Trust, Inc.		511		153,305
Sun Communities, Inc.		891		152,717
Healthpeak Properties, Inc.		4,462		148,540
Duke Realty Corp.		3,119		147,685
Boston Properties, Inc.		1,278		146,446
VICI Properties, Inc.		4,582		142,134
UDR, Inc.		2,757		135,038
WP Carey, Inc.		1,750		130,585
Equity LifeStyle Properties, Inc.		1,733		128,779
Camden Property Trust		959		127,231
American Homes 4 Rent — Class A		3,248		126,185
Host Hotels & Resorts, Inc.^*		7,078		120,963
Medical Properties Trust, Inc.		5,971		120,017
Regency Centers Corp.		1,820		116,607
Gaming and Leisure Properties, Inc.		2,502		115,918
Lamar Advertising Co. — Class A		1,098		114,653
VEREIT, Inc.		2,473		113,585
Americold Realty Trust		2,889		109,349
CubeSmart		2,348		108,759
STORE Capital Corp.		3,126		107,878
CyrusOne, Inc.		1,490		106,565
Federal Realty Investment Trust		901		105,570
AGNC Investment Corp.		6,246		105,495
Vornado Realty Trust		2,245		104,774
Omega Healthcare Investors, Inc.		2,863		103,898
Life Storage, Inc.		955		102,519
National Retail Properties, Inc.		2,144		100,511
Kilroy Realty Corp.		1,436		100,003
Rexford Industrial Realty, Inc.		1,754		99,890
Brixmor Property Group, Inc.		4,034		92,338
First Industrial Realty Trust, Inc.		1,749		91,350
CoreSite Realty Corp.		677		91,124
EastGroup Properties, Inc.		540		88,803
American Campus Communities, Inc.		1,895		88,535
SL Green Realty Corp.		1,057		84,560
Douglas Emmett, Inc.		2,514		84,521
Healthcare Trust of America, Inc. — Class A		3,097		82,690
QTS Realty Trust, Inc. — Class A		1,060		81,938
Agree Realty Corp.		1,103		77,751
Healthcare Realty Trust, Inc.		2,401		72,510
Hudson Pacific Properties, Inc.		2,572		71,553
Total REITS				8,559,402
Banks - 25.5%
JPMorgan Chase & Co.		5,023		781,277
Bank of America Corp.		16,492		679,965
Wells Fargo & Co.		11,045		500,228
Morgan Stanley		5,174		474,404
Citigroup, Inc.		6,159		435,749
Goldman Sachs Group, Inc.		1,111		421,658
U.S. Bancorp		5,816		331,338
PNC Financial Services Group, Inc.		1,719		327,916
Truist Financial Corp.		5,594		310,467
Bank of New York Mellon Corp.		4,733		242,472
First Republic Bank		1,101		206,074
SVB Financial Group^*		353		196,420
State Street Corp.		2,303		189,491
Fifth Third Bancorp		4,840		185,033
Northern Trust Corp.		1,525		176,321
Huntington Bancshares, Inc.		11,751		167,687
KeyCorp		7,733		159,686
Citizens Financial Group, Inc.		3,452		158,343
Regions Financial Corp.		7,833		158,070
ICICI Bank Ltd. ADR^*		9,015		154,157
M&T Bank Corp.		1,038		150,832
Royal Bank of Canada		1,440		145,886
HDFC Bank Ltd. ADR^*		1,991		145,582
Toronto-Dominion Bank		2,065		144,653
Bank of Nova Scotia		2,140		139,250
Signature Bank		542		133,142
HSBC Holdings plc ADR		4,282		123,536
East West Bancorp, Inc.		1,610		115,421
First Horizon Corp.		6,398		110,557
Western Alliance Bancorporation		1,190		110,492
Zions Bancorp North America		2,002		105,826
Silvergate Capital Corp. — Class A^*		570		64,592
Total Banks				7,746,525
Insurance - 21.6%
Berkshire Hathaway, Inc. — Class B^*		3,225		896,292
Marsh & McLennan Companies, Inc.		2,165		304,572
Progressive Corp.		2,832		278,131
Chubb Ltd.		1,693		269,085
Aon plc — Class A		1,103		263,352
Willis Towers Watson plc		1,117		256,932
MetLife, Inc.		4,289		256,697
Prudential Financial, Inc.		2,222		227,688
Allstate Corp.		1,723		224,748
American International Group, Inc.		4,721		224,720
Travelers Companies, Inc.		1,458		218,277
Aflac, Inc.		4,004		214,855

Financial Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5% (continued)
Insurance - 21.6% (continued)
Arthur J Gallagher & Co.		1,363	$	190,929
Hartford Financial Services Group, Inc.		2,675		165,770
Everest Re Group Ltd.		620		156,246
Athene Holding Ltd. — Class A^*		2,314		156,195
Cincinnati Financial Corp.		1,314		153,239
Arch Capital Group Ltd.^*		3,927		152,917
RenaissanceRe Holdings Ltd.		1,000		148,820
Principal Financial Group, Inc.		2,355		148,813
Markel Corp.^*		120		142,405
Brown & Brown, Inc.		2,594		137,845
Loews Corp.		2,462		134,548
Equitable Holdings, Inc.		4,209		128,164
Fidelity National Financial, Inc.		2,842		123,513
Lincoln National Corp.		1,963		123,355
American Financial Group, Inc.		933		116,364
Globe Life, Inc.		1,150		109,538
Assurant, Inc.		701		109,482
Reinsurance Group of America, Inc. — Class A		853		97,242
Voya Financial, Inc.		1,579		97,109
Lemonade, Inc.^*		882		96,500
First American Financial Corp.		1,474		91,904
Unum Group		3,021		85,796
MGIC Investment Corp.		5,555		75,548
Brookfield Asset Management Reinsurance Partners Ltd. — Class A^*		20		1,052
Total Insurance				6,578,643
Diversified Financial Services - 17.0%
Charles Schwab Corp.		5,743		418,148
American Express Co.		2,495		412,249
BlackRock, Inc. — Class A		466		407,736
CME Group, Inc. — Class A		1,443		306,897
Capital One Financial Corp.		1,924		297,623
Intercontinental Exchange, Inc.		2,491		295,682
Futu Holdings Ltd. ADR^*		1,520		272,217
Ameriprise Financial, Inc.		1,027		255,600
T. Rowe Price Group, Inc.		1,218		241,127
Rocket Companies, Inc. — Class A		11,283		218,326
Discover Financial Services		1,811		214,223
Apollo Global Management, Inc.		3,069		190,892
Synchrony Financial		3,929		190,635
Nasdaq, Inc.		1,064		187,051
Tradeweb Markets, Inc. — Class A		1,862		157,451
Ally Financial, Inc.		3,051		152,062
Franklin Resources, Inc.		4,446		142,227
Cboe Global Markets, Inc.		1,070		127,383
Invesco Ltd.		4,626		123,653
LPL Financial Holdings, Inc.		842		113,653
Jefferies Financial Group, Inc.		3,210		109,782
Credit Acceptance Corp.^*,1		217		98,542
SLM Corp.		4,524		94,733
Evercore, Inc. — Class A		630		88,685
LendingTree, Inc.^*		270		57,208
Total Diversified Financial Services				5,173,785
Private Equity - 3.1%
Blackstone Group, Inc. — Class A		3,949		383,606
KKR & Company, Inc. — Class A		4,395		260,360
Brookfield Asset Management, Inc. — Class A		2,943		150,034
Carlyle Group, Inc.		3,160		146,877
Total Private Equity				940,877
Commercial Services - 2.6%
S&P Global, Inc.		864		354,629
Moody's Corp.		811		293,882
MarketAxess Holdings, Inc.		316		146,494
Total Commercial Services				795,005
Software - 0.8%
MSCI, Inc. — Class A		447		238,287
Media - 0.4%
FactSet Research Systems, Inc.		376		126,189
Savings & Loans - 0.3%
People's United Financial, Inc.		5,577		95,590
Total Common Stocks
(Cost $20,822,450)				30,254,303

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 1.1%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	183,835	183,835
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		72,376	72,376
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		70,957	70,957
Total Repurchase Agreements
(Cost $327,168)			327,168

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 0.0%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		6,904		6,904
Total Securities Lending Collateral
(Cost $6,904)				6,904
Total Investments - 100.6%
(Cost $21,156,522)			$	30,588,375
Other Assets & Liabilities, net - (0.6)%				(177,237	)
Total Net Assets - 100.0%			$	30,411,138

Financial Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	Securities lending collateral — See Note 5.
⁴	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	30,254,303	$	—	$	—	$	30,254,303
Repurchase Agreements		—		327,168		—		327,168
Securities Lending Collateral		6,904		—		—		6,904
Total Assets	$	30,261,207	$	327,168	$	—	$	30,588,375

Government Long Bond 1.2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 19.1%
Guggenheim Ultra Short Duration Fund — Institutional Class¹		462,837	$	4,614,483
Guggenheim Strategy Fund II¹		182,784		4,567,770
Total Mutual Funds
(Cost $9,151,172)				9,182,253

	Face Amount
U.S. GOVERNMENT SECURITIES^†† - 66.2%
U.S. Treasury Bonds
2.38% due 05/15/51	$	29,900,000	31,918,250
Total U.S. Government Securities
(Cost $30,418,080)			31,918,250

U.S. TREASURY BILLS^†† - 2.8%
U.S. Treasury Bills
0.01% due 08/03/21^2,3	1,131,000	1,130,952
0.03% due 08/03/21^2,3	209,000	208,991
Total U.S. Treasury Bills
(Cost $1,339,983)		1,339,943

REPURCHASE AGREEMENTS^††,4 - 19.1%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	5,173,300		5,173,300
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21	2,036,723		2,036,723
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21	1,996,788		1,996,788
Total Repurchase Agreements
(Cost $9,206,811)			9,206,811
Total Investments - 107.2%
(Cost $50,116,046)		$	51,647,257
Other Assets & Liabilities, net - (7.2)%			(3,448,929	)
Total Net Assets - 100.0%		$	48,198,328

Futures Contracts

Description

Number of Contracts

Expiration Date

Notional Amount

Value and Unrealized
Appreciation^**

Interest Rate Futures Contracts Purchased^†

U.S. Treasury Ultra Long Bond Futures Contracts

156

Sep 2021

30,034,875

1,274,549

^**	Includes cumulative appreciation (depreciation).
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	All or a portion of this security is pledged as futures collateral at June 30, 2021.
³	Rate indicated is the effective yield at the time of purchase.
⁴	Repurchase Agreements — See Note 4.

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	9,182,253	$	—	$	—	$	9,182,253
U.S. Government Securities		—		31,918,250		—		31,918,250
U.S. Treasury Bills		—		1,339,943		—		1,339,943
Repurchase Agreements		—		9,206,811		—		9,206,811
Interest Rate Futures Contracts**		1,274,549		—		—		1,274,549
Total Assets	$	10,456,802	$	42,465,004	$	—	$	52,921,806

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Government Long Bond 1.2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	5,565,542	$	–	$	(1,000,000	)	$	(60	)	$	2,288	$	4,567,770		182,784	$	16,531
Guggenheim Ultra Short Duration Fund — Institutional Class		5,608,852		–		(1,000,000	)		(2,006	)		7,637		4,614,483		462,837		10,885
	$	11,174,394	$	–	$	(2,000,000	)	$	(2,066	)	$	9,925	$	9,182,253			$	27,416

Health Care Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.9%
Healthcare-Products - 30.3%
Abbott Laboratories		6,271	$	726,997
Thermo Fisher Scientific, Inc.		1,413		712,816
Danaher Corp.		2,619		702,835
Medtronic plc		4,784		593,838
Intuitive Surgical, Inc.^*		575		528,793
Stryker Corp.		1,894		491,929
Edwards Lifesciences Corp.^*		3,899		403,819
Boston Scientific Corp.^*		9,000		384,840
IDEXX Laboratories, Inc.^*		591		373,246
Align Technology, Inc.^*		565		345,215
Baxter International, Inc.		3,912		314,916
ResMed, Inc.		1,223		301,494
Zimmer Biomet Holdings, Inc.		1,791		288,029
West Pharmaceutical Services, Inc.		718		257,834
10X Genomics, Inc. — Class A^*		1,169		228,914
STERIS plc		1,109		228,787
Avantor, Inc.^*		6,421		228,010
Novocure Ltd.^*		989		219,380
Hologic, Inc.^*		3,174		211,769
PerkinElmer, Inc.		1,360		209,998
Bio-Techne Corp.		464		208,921
Insulet Corp.^*		758		208,079
QIAGEN N.V.^*		3,875		187,472
ABIOMED, Inc.^*		598		186,642
Masimo Corp.^*		768		186,202
Dentsply Sirona, Inc.		2,880		182,189
Repligen Corp.^*		825		164,686
Natera, Inc.^*		1,450		164,618
Henry Schein, Inc.^*		2,128		157,876
Penumbra, Inc.^*		575		157,584
Hill-Rom Holdings, Inc.		1,206		136,989
Tandem Diabetes Care, Inc.^*		1,286		125,256
Quidel Corp.^*		966		123,764
Nevro Corp.^*		732		121,358
Haemonetics Corp.^*		1,420		94,629
iRhythm Technologies, Inc.^*		1,066		70,729
Total Healthcare-Products				10,230,453
Pharmaceuticals - 30.0%
Johnson & Johnson		6,274		1,033,579
Eli Lilly & Co.		3,264		749,153
Pfizer, Inc.		18,716		732,918
Merck & Company, Inc.		9,000		699,930
AbbVie, Inc.		6,164		694,313
Bristol-Myers Squibb Co.		9,091		607,461
CVS Health Corp.		6,214		518,496
Zoetis, Inc.		2,509		467,577
Cigna Corp.		1,894		449,011
Becton Dickinson and Co.		1,731		420,962
AstraZeneca plc ADR¹		5,676		339,992
DexCom, Inc.^*		762		325,374
McKesson Corp.		1,420		271,561
Intellia Therapeutics, Inc.^*		1,483		240,112
AmerisourceBergen Corp. — Class A		2,081		238,254
Jazz Pharmaceuticals plc^*		1,263		224,359
GlaxoSmithKline plc ADR		5,255		209,254
Novartis AG ADR		2,252		205,472
Viatris, Inc.		14,269		203,904
Cardinal Health, Inc.		3,535		201,813
Elanco Animal Health, Inc.^*		5,720		198,427
Teva Pharmaceutical Industries Ltd. ADR^*		19,312		191,189
Perrigo Company plc		4,133		189,498
PRA Health Sciences, Inc.^*		972		160,584
Bausch Health Companies, Inc.^*		5,452		159,853
Neurocrine Biosciences, Inc.^*		1,540		149,873
Organon & Co.^*		4,460		134,960
Sarepta Therapeutics, Inc.^*		1,570		122,052
Total Pharmaceuticals				10,139,931
Biotechnology - 20.5%
Amgen, Inc.		2,429		592,069
Moderna, Inc.^*		2,215		520,481
Gilead Sciences, Inc.		6,789		467,490
Illumina, Inc.^*		889		420,684
Regeneron Pharmaceuticals, Inc.^*		702		392,095
Vertex Pharmaceuticals, Inc.^*		1,844		371,806
Biogen, Inc.^*		986		341,422
Alexion Pharmaceuticals, Inc.^*		1,741		319,839
CRISPR Therapeutics AG^*		1,904		308,239
Seagen, Inc.^*		1,711		270,133
Royalty Pharma plc — Class A		5,830		238,972
BioNTech SE ADR^*		1,032		231,044
Horizon Therapeutics plc^*		2,456		229,980
Exact Sciences Corp.^*		1,827		227,114
Alnylam Pharmaceuticals, Inc.^*		1,300		220,376
Incyte Corp.^*		2,556		215,036
Novavax, Inc.^*		1,009		214,221
BioMarin Pharmaceutical, Inc.^*		2,332		194,582
Guardant Health, Inc.^*		1,420		176,350
Arrowhead Pharmaceuticals, Inc.^*		1,731		143,361
Pacific Biosciences of California, Inc.^*		4,073		142,433
Mirati Therapeutics, Inc.^*		872		140,854
United Therapeutics Corp.^*		778		139,581
Twist Bioscience Corp.^*		1,032		137,514
Exelixis, Inc.^*		5,917		107,808
Emergent BioSolutions, Inc.^*		1,450		91,335
Inovio Pharmaceuticals, Inc.^*,1		7,905		73,279
Total Biotechnology				6,928,098
Healthcare-Services - 14.9%
UnitedHealth Group, Inc.		2,422		969,866
Anthem, Inc.		1,266		483,359
HCA Healthcare, Inc.		2,005		414,514
Humana, Inc.		862		381,625
IQVIA Holdings, Inc.^*		1,386		335,855
Centene Corp.^*		4,403		321,111
Laboratory Corporation of America Holdings^*		962		265,368
Teladoc Health, Inc.^*		1,567		260,576
Charles River Laboratories International, Inc.^*		588		217,513
Catalent, Inc.^*		1,951		210,942
Quest Diagnostics, Inc.		1,587		209,436
Molina Healthcare, Inc.^*		758		191,819
DaVita, Inc.^*		1,457		175,466
Universal Health Services, Inc. — Class B		1,176		172,202
Syneos Health, Inc.^*		1,734		155,176

Health Care Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.9% (continued)
Healthcare-Services - 14.9% (continued)
Encompass Health Corp.		1,747	$	136,318
Invitae Corp.^*,1		3,909		131,851
Total Healthcare-Services				5,032,997
Electronics - 2.5%
Agilent Technologies, Inc.		2,258		333,755
Mettler-Toledo International, Inc.^*		204		282,609
Waters Corp.^*		665		229,831
Total Electronics				846,195
Software - 1.7%
Veeva Systems, Inc. — Class A^*		1,113		346,087
Cerner Corp.		3,070		239,951
Total Software				586,038
Total Common Stocks
(Cost $20,810,735)				33,763,712

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.3%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	61,339	$	61,339
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		24,149		24,149
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		23,676		23,676
Total Repurchase Agreements
(Cost $109,164)				109,164

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 1.1%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		379,738		379,738
Total Securities Lending Collateral
(Cost $379,738)				379,738
Total Investments - 101.3%
(Cost $21,299,637)			$	34,252,614
Other Assets & Liabilities, net - (1.3)%				(447,839	)
Total Net Assets - 100.0%			$	33,804,775

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	Securities lending collateral — See Note 5.
⁴	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	33,763,712	$	—	$	—	$	33,763,712
Repurchase Agreements		—		109,164		—		109,164
Securities Lending Collateral		379,738		—		—		379,738
Total Assets	$	34,143,450	$	109,164	$	—	$	34,252,614

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 23.1%
Guggenheim Strategy Fund III¹		112,348	$	2,826,680
Guggenheim Ultra Short Duration Fund — Institutional Class¹		227,842		2,271,586
Guggenheim Strategy Fund II¹		53,173		1,328,787
Total Mutual Funds
(Cost $6,316,655)				6,427,053

	Face Amount
FEDERAL AGENCY NOTES^†† - 34.5%
Federal Farm Credit Bank
0.13% (1 Month USD LIBOR + 0.03%, Rate Floor: 0.00%) due 12/29/21²	$	2,000,000	2,000,493
0.34% (3 Month U.S. Treasury Bill Rate + 0.29%, Rate Floor: 0.00%) due 04/11/22²		1,700,000	1,703,466
0.28% (U.S. Prime Rate - 2.97%, Rate Floor: 0.00%) due 05/27/22²		620,000	621,177
Fannie Mae
0.42% due 07/21/23		2,220,000	2,220,387
Federal Home Loan Bank
0.02% due 09/03/21		2,000,000	1,999,806
4.00% due 12/24/30		25,000	25,476
3.98% due 09/21/33		25,000	25,204
Farmer Mac
0.06% (3 Month USD LIBOR - 0.10%, Rate Floor: 0.00%) due 11/22/21²		1,000,000	1,000,011
Total Federal Agency Notes
(Cost $9,593,811)			9,596,020

U.S. GOVERNMENT SECURITIES^†† - 9.1%
U.S. Treasury Note
1.75% due 05/15/22	2,500,000	2,536,133
Total U.S. Government Securities
(Cost $2,536,529)		2,536,133

FEDERAL AGENCY DISCOUNT NOTES^†† - 8.8%
Federal Home Loan Bank
0.02% due 11/19/21³	2,449,000	2,448,424
Total Federal Agency Discount Notes
(Cost $2,448,760)		2,448,424

U.S. TREASURY BILLS^†† - 4.5%
U.S. Treasury Bills
0.01% due 08/03/21^3,4	1,246,000	1,245,947
Total U.S. Treasury Bills
(Cost $1,245,989)		1,245,947

REPURCHASE AGREEMENTS^††,5 - 16.3%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21⁶	2,549,641		2,549,641
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21⁶	1,003,791		1,003,791
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21⁶	984,109		984,109
Total Repurchase Agreements
(Cost $4,537,541)			4,537,541
Total Investments - 96.3%
(Cost $26,679,285)		$	26,791,118
Other Assets & Liabilities, net - 3.7%			1,043,005
Total Net Assets - 100.0%		$	27,834,123

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation^**
Interest Rate Futures Contracts Purchased^†
U.S. Treasury 5 Year Note Futures Contracts		164	Sep 2021	$	20,237,344	$	(49,013	)

Centrally Cleared Credit Default Swap Agreements Protection Sold^††
Counterparty	Exchange	Index	Protection Premium Rate			Payment Frequency	Maturity Date	Notional Amount		Value		Upfront Premiums Paid		Unrealized Appreciation^**
Goldman Sachs International	ICE	CDX.NA.HY.36.V1		5.00	%	Quarterly	06/20/26	$	13,800,000	$	1,407,069	$	1,111,310	$	295,759
Barclays Bank plc	ICE	CDX.NA.HY.36.V1		5.00	%	Quarterly	06/20/26		6,600,000		672,946		559,062		113,884
										$	2,080,015	$	1,670,372	$	409,643

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Credit Index Swap Agreements^††

BNP Paribas

SPDR Bloomberg Barclays High Yield Bond ETF

0.49% (1 Month USD LIBOR + 0.40%)

At Maturity

07/15/21

29,193

3,210,050

29,193

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity
Date

Units

Notional
Amount

Value and Unrealized Appreciation

BNP Paribas

iShares iBoxx $ High Yield Corporate Bond ETF

0.44% (1 Month USD LIBOR + 0.35%)

At Maturity

07/15/21

33,133

2,917,003

26,175

Goldman Sachs International

iShares iBoxx $ High Yield Corporate Bond ETF

0.44% (1 Week USD LIBOR + 0.35%)

At Maturity

07/29/21

9,924

873,709

1,191

7,000,762

56,559

^**	Includes cumulative appreciation (depreciation).
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
³	Rate indicated is the effective yield at the time of purchase.
⁴	All or a portion of this security is pledged as futures and credit default swap collateral at June 30, 2021.
⁵	Repurchase Agreements — See Note 4.
⁶	All or a portion of this security is pledged as credit index swap collateral at June 30, 2021.

CDX.NA.HY.36.V1 — Credit Default Swap North American High Yield Series 36 Index Version 1

ICE — Intercontinental Exchange

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	6,427,053	$	—	$	—	$	6,427,053
Federal Agency Notes		—		9,596,020		—		9,596,020
U.S. Government Securities		—		2,536,133		—		2,536,133
Federal Agency Discount Notes		—		2,448,424		—		2,448,424
U.S. Treasury Bills		—		1,245,947		—		1,245,947
Repurchase Agreements		—		4,537,541		—		4,537,541
Credit Default Swap Agreements**		—		409,643		—		409,643
Credit Index Swap Agreements**		—		56,559		—		56,559
Total Assets	$	6,427,053	$	20,830,267	$	—	$	27,257,320

Investments in Securities (Liabilities)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Interest Rate Futures Contracts**		$	49,013			$	—			$	—			$	49,013

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,328,255	$	–	$	–	$	–	$	532	$	1,328,787		53,173	$	4,720
Guggenheim Strategy Fund III		2,824,433		–		–		–		2,247		2,826,680		112,348		11,804
Guggenheim Ultra Short Duration Fund — Institutional Class		2,269,308		–		–		–		2,278		2,271,586		227,842		5,277
	$	6,421,996	$	–	$	–	$	–	$	5,057	$	6,427,053			$	21,801

Internet Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Internet - 61.9%
Amazon.com, Inc.^*		504	$	1,733,841
Alphabet, Inc. — Class A^*		703		1,716,578
Facebook, Inc. — Class A^*		3,850		1,338,684
Alibaba Group Holding Ltd. ADR^*		4,254		964,722
Netflix, Inc.^*		1,251		660,791
Baidu, Inc. ADR^*		2,769		564,599
Snap, Inc. — Class A^*		6,558		446,862
Uber Technologies, Inc.^*		8,152		408,578
Booking Holdings, Inc.^*		179		391,668
Roku, Inc.^*		812		372,911
JD.com, Inc. ADR^*		4,547		362,896
Pinduoduo, Inc. ADR^*		2,663		338,254
DoorDash, Inc. — Class A^*		1,866		332,764
Twitter, Inc.^*		4,808		330,838
Shopify, Inc. — Class A^*		213		311,189
Pinterest, Inc. — Class A^*		3,914		309,010
Sea Ltd. ADR^*		1,111		305,081
eBay, Inc.		4,281		300,569
MercadoLibre, Inc.^*		192		299,096
Match Group, Inc.^*		1,779		286,864
Okta, Inc.^*		1,071		262,052
Spotify Technology S.A.^*		937		258,228
Vipshop Holdings Ltd. ADR^*		12,330		247,586
Chewy, Inc. — Class A^*,1		3,067		244,471
Wayfair, Inc. — Class A^*		770		243,097
Zillow Group, Inc. — Class C^*		1,967		240,407
Zillow Group, Inc. — Class A^*		1,951		239,056
Etsy, Inc.^*		1,148		236,304
VeriSign, Inc.^*		942		214,484
Farfetch Ltd. — Class A^*		4,244		213,728
Expedia Group, Inc.^*		1,249		204,474
Fiverr International Ltd.^*		830		201,267
Just Eat Takeaway.com N.V. ADR^*		10,646		194,402
Lyft, Inc. — Class A^*		3,139		189,847
Trip.com Group Ltd. ADR^*		5,300		187,938
Jumia Technologies AG ADR^*,1		6,004		182,101
Wix.com Ltd.^*		623		180,844
Weibo Corp. ADR^*		3,402		179,013
Autohome, Inc. ADR		2,563		163,929
JOYY, Inc. ADR		2,473		163,144
GoDaddy, Inc. — Class A^*		1,856		161,398
IAC^*		1,014		156,328
F5 Networks, Inc.^*		748		139,622
Vimeo, Inc.^*		2,502		122,598
Anaplan, Inc.^*		2,178		116,087
Stitch Fix, Inc. — Class A^*		1,749		105,465
TripAdvisor, Inc.^*		2,423		97,647
Overstock.com, Inc.^*		921		84,916
Stamps.com, Inc.^*		396		79,315
Total Internet				17,085,543
Software - 24.9%
Adobe, Inc.^*		1,235		723,265
salesforce.com, Inc.^*		2,579		629,972
Zoom Video Communications, Inc. — Class A^*		1,180		456,695
Activision Blizzard, Inc.		3,829		365,440
Twilio, Inc. — Class A^*		918		361,839
Snowflake, Inc. — Class A^*		1,457		352,303
Workday, Inc. — Class A^*		1,360		324,686
DocuSign, Inc.^*		1,148		320,946
Veeva Systems, Inc. — Class A^*		937		291,360
Electronic Arts, Inc.		1,882		270,688
Bilibili, Inc. ADR^*		2,074		252,696
NetEase, Inc. ADR		2,064		237,876
HubSpot, Inc.^*		380		221,434
MongoDB, Inc.^*		541		195,582
Take-Two Interactive Software, Inc.^*		1,095		193,837
ZoomInfo Technologies, Inc. — Class A^*		3,687		192,351
Coupa Software, Inc.^*		732		191,865
Akamai Technologies, Inc.^*		1,565		182,479
Citrix Systems, Inc.		1,360		159,487
Dropbox, Inc. — Class A^*		4,914		148,943
Five9, Inc.^*		812		148,913
Skillz, Inc.^*,1		6,060		131,623
Smartsheet, Inc. — Class A^*		1,795		129,814
Fastly, Inc. — Class A^*,1		1,885		112,346
J2 Global, Inc.^*		770		105,914
BigCommerce Holdings, Inc.^*		1,430		92,836
New Relic, Inc.^*		1,251		83,780
Total Software				6,878,970
Telecommunications - 6.1%
Cisco Systems, Inc.		11,810		625,930
Motorola Solutions, Inc.		1,190		258,051
Arista Networks, Inc.^*		602		218,111
GDS Holdings Ltd. ADR^*		2,186		171,579
Telefonaktiebolaget LM Ericsson ADR		12,146		152,797
Juniper Networks, Inc.		4,558		124,661
Ciena Corp.^*		2,188		124,475
Total Telecommunications				1,675,604
Commercial Services - 5.0%
PayPal Holdings, Inc.^*		2,726		794,575
CoStar Group, Inc.^*		2,795		231,482
Chegg, Inc.^*		1,784		148,268
Paylocity Holding Corp.^*		729		139,093
2U, Inc.^*		1,808		75,339
Total Commercial Services				1,388,757
Healthcare-Services - 0.8%
Teladoc Health, Inc.^*		1,320		219,503
Real Estate - 0.4%
Redfin Corp.^*		1,739		110,270
Computers - 0.4%
Lumentum Holdings, Inc.^*		1,283		105,245
Total Common Stocks
(Cost $13,715,513)				27,463,892

Internet Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Face Amount		Value
REPURCHASE AGREEMENTS^††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	105,706	$	105,706
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		41,617		41,617
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		40,800		40,800
Total Repurchase Agreements
(Cost $188,123)				188,123

SECURITIES LENDING COLLATERAL^†,3 - 1.4%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴	389,884		389,884
Total Securities Lending Collateral
(Cost $389,884)			389,884
Total Investments - 101.6%
(Cost $14,293,520)		$	28,041,899
Other Assets & Liabilities, net - (1.6)%			(450,975	)
Total Net Assets - 100.0%		$	27,590,924

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	Securities lending collateral — See Note 5.
⁴	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	27,463,892	$	—	$	—	$	27,463,892
Repurchase Agreements		—		188,123		—		188,123
Securities Lending Collateral		389,884		—		—		389,884
Total Assets	$	27,853,776	$	188,123	$	—	$	28,041,899

Inverse Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Face Amount		Value
REPURCHASE AGREEMENTS^††,1 - 51.9%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21²	$	129,185	$	129,185
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21²		50,860		50,860
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21²		49,863		49,863
Total Repurchase Agreements
(Cost $229,908)				229,908
Total Investments - 51.9%
(Cost $229,908)			$	229,908
Other Assets & Liabilities, net - 48.1%				212,695
Total Net Assets - 100.0%			$	442,603

Total Return Swap Agreements
Counterparty	Index	Financing Rate Pay (Receive)	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short^††
Goldman Sachs International	BNY Mellon Emerging Markets 50 ADR Index	(0.36%) (1 Week USD LIBOR - 0.45%)	At Maturity	07/15/21		191	$	708,098	$	(771	)
BNP Paribas	BNY Mellon Emerging Markets 50 ADR Index	(0.21%) (1 Month USD LIBOR - 0.30%)	At Maturity	07/15/21		48		178,364		(2,705	)
							$	886,462	$	(3,476	)

^††	Value determined based on Level 2 inputs — See Note 3.
¹	Repurchase Agreements — See Note 4.
²	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.

ADR — American Depositary Receipt

LIBOR — London Interbank Offered Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Repurchase Agreements		$	—			$	229,908			$	—			$	229,908

Investments in Securities (Liabilities)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Equity Index Swap Agreements**		$	—			$	3,476			$	—			$	3,476

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 18.6%
Guggenheim Ultra Short Duration Fund — Institutional Class¹		528,512	$	5,269,262
Guggenheim Strategy Fund II¹		210,588		5,262,592
Total Mutual Funds
(Cost $10,470,929)				10,531,854

	Face Amount
FEDERAL AGENCY NOTES^†† - 40.9%
Federal Home Loan Bank
0.02% due 09/03/21	$	9,000,000	8,999,125
4.00% due 12/24/30		1,000,000	1,019,045
3.98% due 09/21/33		1,000,000	1,008,161
0.17% (U.S. Secured Overnight Financing Rate + 0.12%, Rate Floor: 0.00%) due 02/10/22²		100,000	100,049
1.13% due 07/14/21		325,000	325,126
1.88% due 07/07/21		170,000	170,058
Federal Farm Credit Bank
0.40% (U.S. Prime Rate - 2.85%, Rate Floor: 0.00%) due 08/30/22²		3,000,000	3,011,198
0.44% (U.S. Prime Rate - 2.81%, Rate Floor: 0.00%) due 05/20/22²		2,220,000	2,227,294
3.78% due 08/02/28		2,000,000	2,006,610
Farmer Mac
0.08% (3 Month USD LIBOR - 0.10%, Rate Floor: 0.00%) due 08/03/21²		2,000,000	2,000,040
Freddie Mac
0.32% due 10/20/22		1,775,000	1,775,002
0.19% (U.S. Secured Overnight Financing Rate + 0.14%, Rate Floor: 0.00%) due 12/10/21²		140,000	140,047
Fannie Mae
0.22% (U.S. Secured Overnight Financing Rate + 0.17%, Rate Floor: 0.00%) due 03/11/22²		100,000	100,098
0.22% (U.S. Secured Overnight Financing Rate + 0.17%, Rate Floor: 0.00%) due 03/09/22²		100,000	100,094
0.20% (U.S. Secured Overnight Financing Rate + 0.15%, Rate Floor: 0.00%) due 12/10/21²		100,000	100,055
0.19% (U.S. Secured Overnight Financing Rate + 0.14%, Rate Floor: 0.00%) due 09/10/21²		100,000	100,024
0.20% (U.S. Secured Overnight Financing Rate + 0.15%, Rate Floor: 0.00%) due 12/09/21²		25,000	25,016
Total Federal Agency Notes
(Cost $23,221,548)			23,207,042

U.S. GOVERNMENT SECURITIES^†† - 10.7%
U.S. Treasury Notes
1.75% due 03/31/22	5,000,000	5,062,109
1.75% due 05/15/22	1,000,000	1,014,453
Total U.S. Government Securities
(Cost $6,077,743)		6,076,562

U.S. TREASURY BILLS^†† - 1.1%
U.S. Treasury Bills
0.01% due 08/03/21^3,4	588,000	587,975
Total U.S. Treasury Bills
(Cost $587,994)		587,975

REPURCHASE AGREEMENTS^†† - 87.8%
Individual Repurchase Agreements⁶
Mizuho Securities USA LLC issued 06/30/21 at (0.15)% due 07/01/21 (secured by a U.S. Treasury Bond, at a rate of 2.38% and maturing 05/15/51 as collateral, with a value of $26,648,438) to be repurchased at $26,125,919	26,125,919		26,125,919
Barclays Capital, Inc. issued 06/30/21 at (0.10)% due 07/01/21 (secured by a U.S. Treasury Bond, at a rate of 2.38% and maturing 05/15/51 as collateral, with a value of $12,867,300) to be repurchased at $12,615,000	12,615,000		12,615,000
Joint Repurchase Agreements⁵
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	6,221,073		6,221,073
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21	2,449,231		2,449,231
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21	2,401,206		2,401,206
Total Repurchase Agreements
(Cost $49,812,429)			49,812,429
Total Investments - 159.1%
(Cost $90,170,643)		$	90,215,862


U.S. Government Securities Sold Short^†† - (75.1)%
U.S. Treasury Bonds
2.38% due 05/15/51	39,900,000		(42,593,250	)
Total Securities Sold Short - (75.1)%
(Proceeds $41,200,995)		$	(42,593,250	)
Other Assets & Liabilities, net - 16.0%			9,102,166
Total Net Assets - 100.0%		$	56,724,778

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation^**
Interest Rate Futures Contracts Sold Short^†
U.S. Treasury Ultra Long Bond Futures Contracts		83	Sep 2021	$	15,980,094	$	(516,935	)

^**	Includes cumulative appreciation (depreciation).
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
³	All or a portion of this security is pledged as futures collateral at June 30, 2021.
⁴	Rate indicated is the effective yield at the time of purchase.
⁵	Repurchase Agreements — See Note 4.
⁶	All or a portion of this security is pledged as short security collateral at June 30, 2021.

LIBOR — London Interbank Offered Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	10,531,854	$	—	$	—	$	10,531,854
Federal Agency Notes		—		23,207,042		—		23,207,042
U.S. Government Securities		—		6,076,562		—		6,076,562
U.S. Treasury Bills		—		587,975		—		587,975
Repurchase Agreements		—		49,812,429		—		49,812,429
Total Assets	$	10,531,854	$	79,684,008	$	—	$	90,215,862

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Government Securities Sold Short	$	—	$	42,593,250	$	—	$	42,593,250
Interest Rate Futures Contracts**		516,935		—		—		516,935
Total Liabilities	$	516,935	$	42,593,250	$	—	$	43,110,185

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	5,260,486	$	–	$	–	$	–	$	2,106	$	5,262,592		210,588	$	18,694
Guggenheim Ultra Short Duration Fund — Institutional Class		5,263,977		–		–		–		5,285		5,269,262		528,512		12,241
	$	10,524,463	$	–	$	–	$	–	$	7,391	$	10,531,854			$	30,935

Inverse High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 59.2%
Guggenheim Ultra Short Duration Fund — Institutional Class¹		26,589	$	265,096
Guggenheim Strategy Fund II¹		10,226		255,554
Total Mutual Funds
(Cost $516,916)				520,650

	Face Amount
U.S. TREASURY BILLS^†† - 0.7%
U.S. Treasury Bills
0.01% due 08/03/21^2,3	$	5,000	5,000
0.03% due 08/03/21³		1,000	1,000
Total U.S. Treasury Bills
(Cost $6,000)			6,000

REPURCHASE AGREEMENTS^††,4 - 36.1%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	178,644		178,644
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21	70,332		70,332
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21	68,953		68,953
Total Repurchase Agreements
(Cost $317,929)			317,929
Total Investments - 96.0%
(Cost $840,845)		$	844,579
Other Assets & Liabilities, net - 4.0%			35,485
Total Net Assets - 100.0%		$	880,064

Futures Contracts

Description

Number of Contracts

Expiration Date

Notional Amount

Value and Unrealized
Appreciation^**

Interest Rate Futures Contracts Sold Short^†

U.S. Treasury 5 Year Note Futures Contracts

Sep 2021

740,391

2,357

Centrally Cleared Credit Default Swap Agreements Protection Purchased^††
Counterparty	Exchange	Index	Protection Premium Rate		Payment Frequency	Maturity Date	Notional Amount		Value			Upfront Premiums Received			Unrealized Depreciation^**
Barclays Bank plc	ICE	CDX.NA.HY.36.V1	5.00	%	Quarterly	06/20/26	$	800,000	$	(81,569	)	$	(74,791	)	$	(6,778	)

^**	Includes cumulative appreciation (depreciation).
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	All or a portion of this security is pledged as futures collateral at June 30, 2021.
³	Rate indicated is the effective yield at the time of purchase.
⁴	Repurchase Agreements — See Note 4.

CDX.NA.HY.36.V1 — Credit Default Swap North American High Yield Series 36 Index Version 1

ICE — Intercontinental Exchange

plc — Public Limited Company

See Sector Classification in Other Information section.

Inverse High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	520,650	$	—	$	—	$	520,650
U.S. Treasury Bills		—		6,000		—		6,000
Repurchase Agreements		—		317,929		—		317,929
Interest Rate Futures Contracts**		2,357		—		—		2,357
Total Assets	$	523,007	$	323,929	$	—	$	846,936

Investments in Securities (Liabilities)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Credit Default Swap Agreements**		$	—			$	6,778			$	—			$	6,778

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	875,453	$	–	$	(620,000	)	$	(398	)	$	499	$	255,554		10,226	$	1,075
Guggenheim Ultra Short Duration Fund — Institutional Class		874,218		–		(610,000	)		(351	)		1,229		265,096		26,589		701
	$	1,749,671	$	–	$	(1,230,000	)	$	(749	)	$	1,728	$	520,650			$	1,776

Inverse Mid-Cap Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 20.3%
Guggenheim Ultra Short Duration Fund — Institutional Class¹		8,145	$	81,202
Guggenheim Strategy Fund II¹		3,222		80,515
Total Mutual Funds
(Cost $160,346)				161,717

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 79.7%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21³	$	357,775		357,775
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21³		140,855		140,855
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21³		138,094		138,094
Total Repurchase Agreements
(Cost $636,724)				636,724
Total Investments - 100.0%
(Cost $797,070)			$	798,441
Other Assets & Liabilities, net - 0.0%				244
Total Net Assets - 100.0%			$	798,685

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation (Depreciation)

OTC Equity Index Swap Agreements Sold Short^††

BNP Paribas

S&P MidCap 400 Index

0.04% (1 Month USD LIBOR - 0.05%)

At Maturity

07/15/21

176

475,486

2,348

Goldman Sachs International

S&P MidCap 400 Index

0.19% (1 Week USD LIBOR + 0.10%)

At Maturity

07/15/21

215,112

1,199

Barclays Bank plc

S&P MidCap 400 Index

0.29% (1 Week USD LIBOR + 0.20%)

At Maturity

07/14/21

108,942

(527

)

799,540

3,020

^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	Repurchase Agreements — See Note 4.
³	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	161,717	$	—	$	—	$	161,717
Repurchase Agreements		—		636,724		—		636,724
Equity Index Swap Agreements**		—		3,547		—		3,547
Total Assets	$	161,717	$	640,271	$	—	$	801,988

Inverse Mid-Cap Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Investments in Securities (Liabilities)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Equity Index Swap Agreements**		$	—			$	527			$	—			$	527

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	80,483	$	–	$	–	$	–	$	32	$	80,515		3,222	$	286
Guggenheim Ultra Short Duration Fund — Institutional Class		81,121		–		–		–		81		81,202		8,145		189
	$	161,604	$	–	$	–	$	–	$	113	$	161,717			$	475

Inverse NASDAQ-100^® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 16.4%
Guggenheim Strategy Fund II¹		61,417	$	1,534,810
Guggenheim Ultra Short Duration Fund — Institutional Class¹		152,495		1,520,378
Total Mutual Funds
(Cost $2,973,832)				3,055,188

	Face Amount
FEDERAL AGENCY NOTES^†† - 53.7%
Freddie Mac
0.32% due 10/20/22	$	6,050,000	6,050,006
Federal Home Loan Bank
0.02% due 09/03/21		1,500,000	1,499,854
Federal Farm Credit Bank
0.45% (U.S. Prime Rate - 2.80%, Rate Floor: 0.00%) due 03/14/22²		750,000	752,061
0.32% (3 Month U.S. Treasury Bill Rate + 0.27%, Rate Floor: 0.00%) due 05/16/22²		500,000	501,104
0.44% (U.S. Prime Rate - 2.81%, Rate Floor: 0.00%) due 05/20/22²		240,000	240,789
Farmer Mac
0.06% (3 Month USD LIBOR - 0.10%, Rate Floor: 0.00%) due 11/22/21²		1,000,000	1,000,011
Total Federal Agency Notes
(Cost $10,042,340)			10,043,825

U.S. GOVERNMENT SECURITIES^†† - 10.9%
U.S. Treasury Note
2.00% due 07/31/22	2,000,000	2,040,938
Total U.S. Government Securities
(Cost $2,040,707)		2,040,938

U.S. TREASURY BILLS^†† - 7.6%
U.S. Treasury Bills
0.04% due 12/09/21^3,4	1,000,000	999,765
0.01% due 08/03/21^4,5	274,000	273,988
0.03% due 12/09/21⁴	150,000	149,965
Total U.S. Treasury Bills
(Cost $1,423,806)		1,423,718

REPURCHASE AGREEMENTS^††,6 - 23.3%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21³	2,446,809		2,446,809
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21³	963,307		963,307
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21³	944,418		944,418
Total Repurchase Agreements
(Cost $4,354,534)			4,354,534
Total Investments - 111.9%
(Cost $20,835,219)		$	20,918,203
Other Assets & Liabilities, net - (11.9)%			(2,221,445	)
Total Net Assets - 100.0%		$	18,696,758

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation^**
Equity Futures Contracts Sold Short^†
NASDAQ-100 Index Mini Futures Contracts		13	Sep 2021	$	3,781,310	$	(144,838	)

Total Return Swap Agreements
Counterparty	Index	Financing Rate Pay (Receive)	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short^††
Goldman Sachs International	NASDAQ-100 Index	(0.34)% (1 Week USD LIBOR + 0.25%)	At Maturity	07/15/21		56	$	821,943	$	(27,153	)
BNP Paribas	NASDAQ-100 Index	(0.24)% (1 Month USD LIBOR + 0.15%)	At Maturity	07/15/21		412		5,997,957		(351,137	)
Barclays Bank plc	NASDAQ-100 Index	(0.44)% (1 Week USD LIBOR + 0.35%)	At Maturity	07/14/21		557		8,107,602		(499,704	)
							$	14,927,502	$	(877,994	)

Inverse NASDAQ-100^® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

^**	Includes cumulative appreciation (depreciation).
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
³	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
⁴	Rate indicated is the effective yield at the time of purchase.
⁵	All or a portion of this security is pledged as futures collateral at June 30, 2021.
⁶	Repurchase Agreements — See Note 4.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	3,055,188	$	—	$	—	$	3,055,188
Federal Agency Notes		—		10,043,825		—		10,043,825
U.S. Government Securities		—		2,040,938		—		2,040,938
U.S. Treasury Bills		—		1,423,718		—		1,423,718
Repurchase Agreements		—		4,354,534		—		4,354,534
Total Assets	$	3,055,188	$	17,863,015	$	—	$	20,918,203

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	144,838	$	—	$	—	$	144,838
Equity Index Swap Agreements**		—		877,994		—		877,994
Total Liabilities	$	144,838	$	877,994	$	—	$	1,022,832

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,534,196	$	–	$	–	$	–	$	614	$	1,534,810		61,417	$	5,452
Guggenheim Ultra Short Duration Fund — Institutional Class		1,518,853		–		–		–		1,525		1,520,378		152,495		3,532
	$	3,053,049	$	–	$	–	$	–	$	2,139	$	3,055,188			$	8,984

Inverse Russell 2000^® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 44.8%
Guggenheim Strategy Fund II¹		51,129	$	1,277,717
Guggenheim Ultra Short Duration Fund — Institutional Class¹		127,491		1,271,085
Total Mutual Funds
(Cost $2,512,853)				2,548,802

	Face Amount
U.S. TREASURY BILLS^†† - 4.5%
U.S. Treasury Bills
0.01% due 08/03/21²	$	131,000	130,994
0.04% due 12/09/21^2,3		100,000	99,977
0.03% due 12/09/21²		25,000	24,994
Total U.S. Treasury Bills
(Cost $255,978)			255,965

FEDERAL AGENCY NOTES^†† - 2.1%
Federal Farm Credit Bank
0.44% (U.S. Prime Rate - 2.81%, Rate Floor: 0.00%) due 05/20/22⁴	120,000	120,394
Total Federal Agency Notes
(Cost $120,000)		120,394

REPURCHASE AGREEMENTS^††,5 - 50.2%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21³	1,606,205		1,606,205
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21³	632,362		632,362
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21³	619,962		619,962
Total Repurchase Agreements
(Cost $2,858,529)			2,858,529
Total Investments - 101.6%
(Cost $5,747,360)		$	5,783,690
Other Assets & Liabilities, net - (1.6)%			(90,841	)
Total Net Assets - 100.0%		$	5,692,849

Total Return Swap Agreements
Counterparty	Index	Financing Rate Pay (Receive)	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short^††
BNP Paribas	Russell 2000 Index	0.31% (1 Month USD LIBOR - 0.40%)	At Maturity	07/15/21		236	$	545,537	$	(13,952	)
Barclays Bank plc	Russell 2000 Index	0.41% (1 Week USD LIBOR - 0.50%)	At Maturity	07/14/21		169		389,748		(17,678	)
Goldman Sachs International	Russell 2000 Index	(0.04)% (1 Week USD LIBOR - 0.05%)	At Maturity	07/15/21		2,060		4,759,840		(43,329	)
							$	5,695,125	$	(74,959	)

^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	Rate indicated is the effective yield at the time of purchase.
³	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
⁴	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
⁵	Repurchase Agreements — See Note 4.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

Inverse Russell 2000^® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	2,548,802	$	—	$	—	$	2,548,802
U.S. Treasury Bills		—		255,965		—		255,965
Federal Agency Notes		—		120,394		—		120,394
Repurchase Agreements		—		2,858,529		—		2,858,529
Total Assets	$	2,548,802	$	3,234,888	$	—	$	5,783,690

Investments in Securities (Liabilities)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Equity Index Swap Agreements**		$	—			$	74,959			$	—			$	74,959

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,277,205	$	–	$	–	$	–	$	512	$	1,277,717		51,129	$	4,539
Guggenheim Ultra Short Duration Fund — Institutional Class		1,269,811		–		–		–		1,274		1,271,085		127,491		2,953
	$	2,547,016	$	–	$	–	$	–	$	1,786	$	2,548,802			$	7,492

Inverse S&P 500^® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 26.9%
Guggenheim Strategy Fund II¹		282,633	$	7,063,002
Guggenheim Ultra Short Duration Fund — Institutional Class¹		527,442		5,258,601
Total Mutual Funds
(Cost $12,230,893)				12,321,603

	Face Amount
FEDERAL AGENCY NOTES^†† - 54.6%
Federal Farm Credit Bank
0.45% (U.S. Prime Rate - 2.80%, Rate Floor: 0.00%) due 03/14/22²	$	4,500,000	4,512,367
0.09% due 01/06/22		3,500,000	3,500,005
0.44% (U.S. Prime Rate - 2.81%, Rate Floor: 0.00%) due 05/20/22²		3,040,000	3,049,988
0.34% (3 Month U.S. Treasury Bill Rate + 0.29%, Rate Floor: 0.00%) due 04/11/22²		3,000,000	3,006,117
Fannie Mae
0.27% (U.S. Secured Overnight Financing Rate + 0.22%, Rate Floor: 0.00%) due 03/16/22²		5,000,000	5,007,213
Freddie Mac
0.32% due 10/20/22		5,000,000	5,000,005
Federal Home Loan Bank
4.00% due 12/24/30		475,000	484,046
3.98% due 09/21/33		475,000	478,876
Total Federal Agency Notes
(Cost $25,012,987)			25,038,617

U.S. TREASURY BILLS^†† - 2.5%
U.S. Treasury Bills
0.04% due 12/09/21^3,4	1,100,000	1,099,742
0.03% due 08/03/21^4,5	34,000	33,998
Total U.S. Treasury Bills
(Cost $1,133,812)		1,133,740

REPURCHASE AGREEMENTS^††,6 - 17.9%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21³	4,607,101		4,607,101
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21³	1,813,811		1,813,811
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21³	1,778,247		1,778,247
Total Repurchase Agreements
(Cost $8,199,159)			8,199,159
Total Investments - 101.9%
(Cost $46,576,851)		$	46,693,119
Other Assets & Liabilities, net - (1.9)%			(866,404	)
Total Net Assets - 100.0%		$	45,826,715

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation^**
Equity Futures Contracts Sold Short^†
S&P 500 Index Mini Futures Contracts		95	Sep 2021	$	20,360,875	$	(40,020	)

Total Return Swap Agreements
Counterparty	Index	Financing Rate Pay (Receive)	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short^††
BNP Paribas	S&P 500 Index	(0.14)% (1 Month USD LIBOR + 0.05%)	At Maturity	07/15/21		375	$	1,612,288	$	(38,082	)
Barclays Bank plc	S&P 500 Index	(0.39)% (1 Week USD LIBOR + 0.30%)	At Maturity	07/14/21		495		2,128,185		(54,162	)
Goldman Sachs International	S&P 500 Index	(0.44)% (1 Week USD LIBOR + 0.35%)	At Maturity	07/15/21		5,044		21,676,891		(497,756	)
							$	25,417,364	$	(590,000	)

Inverse S&P 500^® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

^**	Includes cumulative appreciation (depreciation).
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
³	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
⁴	Rate indicated is the effective yield at the time of purchase.
⁵	All or a portion of this security is pledged as futures collateral at June 30, 2021.
⁶	Repurchase Agreements — See Note 4.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	12,321,603	$	—	$	—	$	12,321,603
Federal Agency Notes		—		25,038,617		—		25,038,617
U.S. Treasury Bills		—		1,133,740		—		1,133,740
Repurchase Agreements		—		8,199,159		—		8,199,159
Total Assets	$	12,321,603	$	34,371,516	$	—	$	46,693,119

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	40,020	$	—	$	—	$	40,020
Equity Index Swap Agreements**		—		590,000		—		590,000
Total Liabilities	$	40,020	$	590,000	$	—	$	630,020

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	7,060,175	$	–	$	–	$	–	$	2,827	$	7,063,002		282,633	$	25,090
Guggenheim Ultra Short Duration Fund — Institutional Class		5,253,327		–		–		–		5,274		5,258,601		527,442		12,216
	$	12,313,502	$	–	$	–	$	–	$	8,101	$	12,321,603			$	37,306

Japan 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 14.7%
Guggenheim Ultra Short Duration Fund — Institutional Class¹		14,448	$	144,047
Guggenheim Strategy Fund II¹		5,636		140,838
Total Mutual Funds
(Cost $283,661)				284,885

	Face Amount
U.S. TREASURY BILLS^†† - 13.5%
U.S. Treasury Bills
0.01% due 08/03/21^2,3	$	263,000	262,989
Total U.S. Treasury Bills
(Cost $262,997)			262,989

FEDERAL AGENCY NOTES^†† - 10.3%
Federal Farm Credit Bank
0.45% (U.S. Prime Rate - 2.80%, Rate Floor: 0.00%) due 03/14/22⁴	100,000	100,275
0.34% (3 Month U.S. Treasury Bill Rate + 0.29%, Rate Floor: 0.00%) due 04/11/22⁴	100,000	100,204
Total Federal Agency Notes
(Cost $200,000)		200,479

REPURCHASE AGREEMENTS^††,5 - 69.4%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	756,525		756,525
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21	297,844		297,844
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21	292,003		292,003
Total Repurchase Agreements
(Cost $1,346,372)			1,346,372
Total Investments - 107.9%
(Cost $2,093,030)		$	2,094,725
Other Assets & Liabilities, net - (7.9)%			(154,021	)
Total Net Assets - 100.0%		$	1,940,704

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation^**
Equity Futures Contracts Purchased^†
Nikkei 225 (CME) Index Futures Contracts		27	Sep 2021	$	3,885,300	$	(24,365	)

Currency Futures Contracts Purchased^†
Japanese Yen Futures Contracts		34	Sep 2021		3,828,188		(51,598	)

^**	Includes cumulative appreciation (depreciation).
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	Affiliated issuer.
²	All or a portion of this security is pledged as futures collateral at June 30, 2021.
³	Rate indicated is the effective yield at the time of purchase.
⁴	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
⁵	Repurchase Agreements — See Note 4.

CME — Chicago Mercantile Exchange

See Sector Classification in Other Information section.

Japan 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	284,885	$	—	$	—	$	284,885
U.S. Treasury Bills		—		262,989		—		262,989
Federal Agency Notes		—		200,479		—		200,479
Repurchase Agreements		—		1,346,372		—		1,346,372
Total Assets	$	284,885	$	1,809,840	$	—	$	2,094,725

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Currency Futures Contracts**	$	51,598	$	—	$	—	$	51,598
Equity Futures Contracts**		24,365		—		—		24,365
Total Liabilities	$	75,963	$	—	$	—	$	75,963

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	140,782	$	–	$	–	$	–	$	56	$	140,838		5,636	$	500
Guggenheim Ultra Short Duration Fund — Institutional Class		143,902		–		–		–		145		144,047		14,448		335
	$	284,684	$	–	$	–	$	–	$	201	$	284,885			$	835

Leisure Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.2%
Media - 20.4%
Walt Disney Co.^*		6,672	$	1,172,737
Comcast Corp. — Class A		18,488		1,054,186
Charter Communications, Inc. — Class A^*		1,149		828,946
Liberty Broadband Corp. — Class C^*		2,235		388,130
ViacomCBS, Inc. — Class B		8,320		376,064
Discovery, Inc. — Class A^*,1		10,188		312,568
DISH Network Corp. — Class A^*		7,405		309,529
Fox Corp. — Class A		8,092		300,456
Altice USA, Inc. — Class A^*		7,653		261,273
News Corp. — Class A		9,871		254,376
Cable One, Inc.		120		229,537
New York Times Co. — Class A		4,220		183,781
Nexstar Media Group, Inc. — Class A		1,129		166,956
World Wrestling Entertainment, Inc. — Class A		2,358		136,505
Total Media				5,975,044
Retail - 16.6%
McDonald's Corp.		3,695		853,508
Starbucks Corp.		6,729		752,370
Chipotle Mexican Grill, Inc. — Class A^*		294		455,800
Yum! Brands, Inc.		3,305		380,174
Darden Restaurants, Inc.		2,061		300,886
Domino's Pizza, Inc.		602		280,827
Yum China Holdings, Inc.		4,040		267,650
Restaurant Brands International, Inc.		3,162		203,759
Texas Roadhouse, Inc. — Class A		1,805		173,641
Wendy's Co.		6,350		148,717
Wingstop, Inc.		932		146,911
Shake Shack, Inc. — Class A^*		1,363		145,868
Papa John's International, Inc.		1,229		128,357
Cracker Barrel Old Country Store, Inc.		833		123,667
Brinker International, Inc.^*		1,845		114,113
Cheesecake Factory, Inc.^*		1,984		107,493
Bloomin' Brands, Inc.^*		3,815		103,539
Jack in the Box, Inc.		892		99,405
Dave & Buster's Entertainment, Inc.^*		2,270		92,162
Total Retail				4,878,847
Internet - 13.7%
Netflix, Inc.^*		1,950		1,030,010
Booking Holdings, Inc.^*		277		606,101
Roku, Inc.^*		1,269		582,788
Sea Ltd. ADR^*		1,697		465,996
Spotify Technology S.A.^*		1,354		373,149
Tencent Music Entertainment Group ADR^*		23,549		364,539
Expedia Group, Inc.^*		1,947		318,743
iQIYI, Inc. ADR^*		18,990		295,864
Total Internet				4,037,190
Lodging - 10.2%
Marriott International, Inc. — Class A^*		3,136		428,127
Las Vegas Sands Corp.^*		7,770		409,401
Hilton Worldwide Holdings, Inc.^*		3,074		370,786
MGM Resorts International		7,122		303,753
Wynn Resorts Ltd.^*		1,987		243,010
Huazhu Group Ltd. ADR^*		3,881		204,956
Melco Resorts & Entertainment Ltd. ADR^*		11,622		192,576
Hyatt Hotels Corp. — Class A^*		2,295		178,184
Boyd Gaming Corp.^*		2,831		174,078
Wyndham Hotels & Resorts, Inc.		2,327		168,219
Choice Hotels International, Inc.		1,400		166,404
Travel + Leisure Co.		2,478		147,317
Total Lodging				2,986,811
Entertainment - 8.5%
DraftKings, Inc. — Class A^*		5,905		308,064
Caesars Entertainment, Inc.^*		2,934		304,403
Live Nation Entertainment, Inc.^*		3,310		289,923
Vail Resorts, Inc.^*		738		233,592
Penn National Gaming, Inc.^*		2,965		226,793
Churchill Downs, Inc.		927		183,787
Scientific Games Corp. — Class A^*		2,332		180,590
Marriott Vacations Worldwide Corp.^*		1,055		168,061
Madison Square Garden Sports Corp. — Class A^*		776		133,914
Six Flags Entertainment Corp.^*		2,943		127,373
SeaWorld Entertainment, Inc.^*		2,546		127,147
AMC Entertainment Holdings, Inc. — Class A^*,1		2,004		113,587
Cinemark Holdings, Inc.^*		4,833		106,084
Total Entertainment				2,503,318
Software - 8.3%
Activision Blizzard, Inc.		5,973		570,063
Electronic Arts, Inc.		2,937		422,429
Bilibili, Inc. ADR^*		3,008		366,495
NetEase, Inc. ADR		2,965		341,716
Take-Two Interactive Software, Inc.^*		1,708		302,350
HUYA, Inc. ADR^*,1		11,970		211,271
Skillz, Inc.^*,1		9,452		205,297
Total Software				2,419,621
Leisure Time - 8.1%
Peloton Interactive, Inc. — Class A^*		3,424		424,644
Carnival Corp.^*		12,916		340,466
Royal Caribbean Cruises Ltd.^*		3,550		302,744
Norwegian Cruise Line Holdings Ltd.^*,1		7,816		229,869
Polaris, Inc.		1,411		193,251
Brunswick Corp.		1,896		188,880
YETI Holdings, Inc.^*		2,053		188,506
Harley-Davidson, Inc.		3,838		175,857
Planet Fitness, Inc. — Class A^*		2,235		168,184
Callaway Golf Co.^*		4,876		164,467
Total Leisure Time				2,376,868
Beverages - 5.7%
Constellation Brands, Inc. — Class A		1,893		442,754

Leisure Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.2% (continued)
Beverages - 5.7% (continued)
Brown-Forman Corp. — Class B		5,186	$	388,639
Boston Beer Company, Inc. — Class A^*		234		238,867
Molson Coors Beverage Co. — Class B^*		4,074		218,733
Anheuser-Busch InBev S.A. ADR		2,746		197,739
Diageo plc ADR		1,001		191,882
Total Beverages				1,678,614
Agriculture - 5.6%
Philip Morris International, Inc.		8,166		809,332
Altria Group, Inc.		12,999		619,793
British American Tobacco plc ADR		5,061		198,948
Total Agriculture				1,628,073
Toys, Games & Hobbies - 1.4%
Hasbro, Inc.		2,532		239,324
Mattel, Inc.^*		8,788		176,639
Total Toys, Games & Hobbies				415,963
Food Service - 0.7%
Aramark		5,400		201,150
Total Common Stocks
(Cost $20,057,735)				29,101,499

RIGHTS^††† - 0.0%
Media - 0.0%
Nexstar Media Group, Inc.^*	8,160	–
Total Rights
(Cost $–)		–

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	113,178	113,178
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		44,558	44,558
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		43,685	43,685
Total Repurchase Agreements
(Cost $201,421)			201,421

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 2.4%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		708,042		708,042
Total Securities Lending Collateral
(Cost $708,042)				708,042
Total Investments - 102.3%
(Cost $20,967,198)			$	30,010,962
Other Assets & Liabilities, net - (2.3)%				(668,550	)
Total Net Assets - 100.0%			$	29,342,412

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
^†††	Value determined based on Level 3 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Repurchase Agreements — See Note 4.
³	Securities lending collateral — See Note 5.
⁴	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	29,101,499	$	—	$	—		$	29,101,499
Rights		—		—		—	*		—
Repurchase Agreements		—		201,421		—			201,421
Securities Lending Collateral		708,042		—		—			708,042
Total Assets	$	29,809,541	$	201,421	$	—		$	30,010,962

^*	Security has a market value of $0.

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 97.7%
Financial - 19.1%
Berkshire Hathaway, Inc. — Class B^*,1		652	$	181,204
Aflac, Inc.¹		2,051		110,057
Hanover Insurance Group, Inc.		795		107,834
Allstate Corp.¹		815		106,309
Synchrony Financial		2,158		104,706
Raymond James Financial, Inc.		769		99,893
Highwoods Properties, Inc. REIT¹		2,194		99,103
Mercury General Corp.		1,469		95,411
Brandywine Realty Trust REIT¹		6,664		91,364
Old Republic International Corp.		3,609		89,900
Healthcare Realty Trust, Inc. REIT		2,956		89,271
Safety Insurance Group, Inc.		1,056		82,664
Progressive Corp.		806		79,157
Discover Financial Services		648		76,652
Jefferies Financial Group, Inc.		2,022		69,152
Marsh & McLennan Companies, Inc.		463		65,135
Travelers Companies, Inc.¹		433		64,824
Markel Corp.^*		54		64,082
Enstar Group Ltd.^*		267		63,792
Everest Re Group Ltd.		251		63,254
Evercore, Inc. — Class A		439		61,798
Arch Capital Group Ltd.^*		1,573		61,253
Capital One Financial Corp.		394		60,948
Associated Banc-Corp.		2,889		59,167
Brighthouse Financial, Inc.^*		1,291		58,792
Houlihan Lokey, Inc.		688		56,272
Essent Group Ltd.		1,238		55,648
Interactive Brokers Group, Inc. — Class A		838		55,082
Cboe Global Markets, Inc.		454		54,049
Federated Hermes, Inc. — Class B		1,581		53,612
AMERISAFE, Inc.		841		50,199
Janus Henderson Group plc		1,253		48,629
BankUnited, Inc.		1,091		46,575
SEI Investments Co.		749		46,416
RenaissanceRe Holdings Ltd.		308		45,837
Radian Group, Inc.		1,988		44,233
Affiliated Managers Group, Inc.		283		43,641
Cincinnati Financial Corp.		356		41,517
Goldman Sachs Group, Inc.		108		40,989
OneMain Holdings, Inc.		668		40,020
First American Financial Corp.		629		39,218
JPMorgan Chase & Co.		246		38,263
Citigroup, Inc.		520		36,790
Stewart Information Services Corp.		638		36,168
MGIC Investment Corp.		2,320		31,552
Western Union Co.		1,359		31,216
Sabra Health Care REIT, Inc.		1,686		30,685
Brown & Brown, Inc.		568		30,183
W R Berkley Corp.		397		29,549
Visa, Inc. — Class A		125		29,227
Mastercard, Inc. — Class A		80		29,207
Artisan Partners Asset Management, Inc. — Class A		545		27,697
Lexington Realty Trust REIT		2,292		27,389
Total Financial				3,245,585
Consumer, Non-cyclical - 16.6%
Johnson & Johnson¹		1,064		175,283
Merck & Company, Inc.¹		2,164		168,294
Gilead Sciences, Inc.¹		2,102		144,744
Bristol-Myers Squibb Co.¹		2,092		139,787
Amgen, Inc.¹		503		122,606
Thermo Fisher Scientific, Inc.¹		206		103,921
Pfizer, Inc.¹		2,411		94,415
Bio-Rad Laboratories, Inc. — Class A^*		143		92,133
Regeneron Pharmaceuticals, Inc.^*,1		162		90,484
Molson Coors Beverage Co. — Class B^*,1		1,643		88,213
Hershey Co.		431		75,072
John B Sanfilippo & Son, Inc.		839		74,310
Hologic, Inc.^*		1,071		71,457
McKesson Corp.¹		369		70,568
United Therapeutics Corp.^*		392		70,329
Incyte Corp.^*,1		795		66,883
Vertex Pharmaceuticals, Inc.^*		281		56,658
Vector Group Ltd.¹		3,989		56,404
Prestige Consumer Healthcare, Inc.^*		1,065		55,487
PerkinElmer, Inc.		350		54,044
Eagle Pharmaceuticals, Inc.^*		1,251		53,543
H&R Block, Inc.		2,153		50,552
Humana, Inc.		114		50,470
Quest Diagnostics, Inc.		381		50,281
PepsiCo, Inc.¹		333		49,340
Abbott Laboratories		419		48,575
Chemed Corp.		102		48,399
Blueprint Medicines Corp.^*		537		47,235
Innoviva, Inc.^*		3,028		40,605
Laboratory Corporation of America Holdings^*		144		39,722
Coherus Biosciences, Inc.^*		2,740		37,894
Hill-Rom Holdings, Inc.		321		36,462
Grand Canyon Education, Inc.^*		374		33,649
Vanda Pharmaceuticals, Inc.^*		1,560		33,556
Masimo Corp.^*		132		32,003
PayPal Holdings, Inc.^*		108		31,480
Exelixis, Inc.^*		1,686		30,719
Bruker Corp.		402		30,544
Zoetis, Inc.		161		30,004
Philip Morris International, Inc.¹		300		29,733
UnitedHealth Group, Inc.		74		29,632
Procter & Gamble Co.¹		219		29,550
HCA Healthcare, Inc.		140		28,944
Baxter International, Inc.		358		28,819
J M Smucker Co.¹		214		27,728
Total Consumer, Non-cyclical				2,820,531
Industrial - 14.1%
Toro Co.		1,392		152,953
Donaldson Company, Inc.¹		1,927		122,422
MDU Resources Group, Inc.¹		3,845		120,502
Garmin Ltd.		749		108,335

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 97.7% (continued)
Industrial - 14.1% (continued)
Vishay Intertechnology, Inc.¹		4,109	$	92,658
Watts Water Technologies, Inc. — Class A		631		92,069
Eagle Materials, Inc.		644		91,519
Mettler-Toledo International, Inc.^*		58		80,350
3M Co.¹		400		79,452
Oshkosh Corp.¹		610		76,030
OSI Systems, Inc.^*		739		75,112
Northrop Grumman Corp.¹		186		67,598
Masco Corp.¹		1,130		66,568
Snap-on, Inc.¹		288		64,348
Parker-Hannifin Corp.¹		202		62,036
Agilent Technologies, Inc.		419		61,933
Owens Corning		558		54,628
Waters Corp.^*		155		53,570
Timken Co.		660		53,190
Fortive Corp.		751		52,375
Louisiana-Pacific Corp.		836		50,403
Huntington Ingalls Industries, Inc.		218		45,943
Lennox International, Inc.		126		44,201
Lincoln Electric Holdings, Inc.¹		331		43,596
Carlisle Companies, Inc.		223		42,678
Keysight Technologies, Inc.^*		274		42,308
Sealed Air Corp.		689		40,823
Acuity Brands, Inc.		214		40,024
Hillenbrand, Inc.		906		39,937
AGCO Corp.		295		38,462
Boise Cascade Co.		649		37,869
Sanmina Corp.^*		971		37,830
Lockheed Martin Corp.¹		97		36,700
Sturm Ruger & Company, Inc.		380		34,192
Worthington Industries, Inc.		552		33,771
A O Smith Corp.		442		31,851
Pentair plc		461		31,113
Graco, Inc.		405		30,659
Berry Global Group, Inc.^*		442		28,827
Arrow Electronics, Inc.^*		239		27,205
Total Industrial				2,386,040
Technology - 13.9%
Microsoft Corp.¹		991		268,462
Apple, Inc.¹		1,324		181,335
CSG Systems International, Inc.		3,085		145,550
Activision Blizzard, Inc.		1,192		113,765
Cadence Design Systems, Inc.^*		756		103,436
Texas Instruments, Inc.¹		524		100,765
Electronic Arts, Inc.		642		92,339
Rambus, Inc.^*		3,192		75,682
Broadcom, Inc.¹		154		73,434
Cerner Corp.¹		931		72,767
CDK Global, Inc.¹		1,360		67,578
HP, Inc.¹		2,202		66,479
Seagate Technology Holdings plc¹		731		64,277
Intel Corp.¹		1,064		59,733
Take-Two Interactive Software, Inc.^*		332		58,771
Cirrus Logic, Inc.^*		677		57,626
Cognizant Technology Solutions Corp. — Class A		809		56,031
Progress Software Corp.		1,079		49,904
Kulicke & Soffa Industries, Inc.		785		48,042
NetApp, Inc.		587		48,028
International Business Machines Corp.¹		324		47,495
QUALCOMM, Inc.		303		43,308
Lumentum Holdings, Inc.^*		509		41,753
Paychex, Inc.		347		37,233
Qorvo, Inc.^*		185		36,195
Synaptics, Inc.^*		212		32,983
MAXIMUS, Inc.		373		32,813
NVIDIA Corp.		41		32,804
Synopsys, Inc.^*		112		30,888
Accenture plc — Class A		103		30,363
KLA Corp.		93		30,152
Dropbox, Inc. — Class A^*		994		30,128
ExlService Holdings, Inc.^*		283		30,072
Oracle Corp.¹		359		27,945
NetScout Systems, Inc.^*		963		27,484
Adobe, Inc.^*		36		21,083
salesforce.com, Inc.^*		82		20,030
Total Technology				2,356,733
Consumer, Cyclical - 11.4%
AutoZone, Inc.^*,1		106		158,175
O'Reilly Automotive, Inc.^*,1		251		142,119
Gentex Corp.¹		3,734		123,558
Lowe's Companies, Inc.		631		122,395
Yum! Brands, Inc.		1,064		122,392
Cummins, Inc.¹		345		84,114
Allison Transmission Holdings, Inc.¹		2,034		80,831
WW Grainger, Inc.¹		179		78,402
Dolby Laboratories, Inc. — Class A		702		69,000
Brunswick Corp.		687		68,439
MSC Industrial Direct Company, Inc. — Class A¹		751		67,387
Best Buy Company, Inc.		543		62,434
Gentherm, Inc.^*,1		844		59,967
PulteGroup, Inc.		1,063		58,008
Carter's, Inc.		530		54,680
AutoNation, Inc.^*,1		576		54,611
Murphy USA, Inc.		401		53,481
Whirlpool Corp.		229		49,926
Polaris, Inc.		340		46,566
NVR, Inc.^*		8		39,786
Meritage Homes Corp.^*		374		35,186
Lennar Corp. — Class A		347		34,474
Deckers Outdoor Corp.^*		89		34,182
Tesla, Inc.^*		48		32,626
Dick's Sporting Goods, Inc.		303		30,358
LKQ Corp.^*		616		30,320
Home Depot, Inc.¹		95		30,295
Genuine Parts Co.		239		30,226
Target Corp.		125		30,217
Fastenal Co.		558		29,016
Tri Pointe Homes, Inc.^*		1,341		28,738
Total Consumer, Cyclical				1,941,909
Communications - 10.4%
Alphabet, Inc. — Class C^*,1		105		263,164
Verizon Communications, Inc.¹		2,728		152,850

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 97.7% (continued)
Communications - 10.4% (continued)
VeriSign, Inc.^*,1		631	$	143,672
Viavi Solutions, Inc.^*,1		7,298		128,883
Amazon.com, Inc.^*,1		37		127,286
Omnicom Group, Inc.¹		1,514		121,105
Cisco Systems, Inc.¹		2,086		110,558
Facebook, Inc. — Class A^*,1		244		84,841
Cogent Communications Holdings, Inc.		860		66,125
Juniper Networks, Inc.¹		2,198		60,115
Telephone & Data Systems, Inc.¹		2,481		56,219
TEGNA, Inc.		2,960		55,530
Motorola Solutions, Inc.		240		52,044
InterDigital, Inc.		630		46,009
F5 Networks, Inc.^*		216		40,319
Comcast Corp. — Class A¹		684		39,002
Nexstar Media Group, Inc. — Class A		260		38,449
Ciena Corp.^*		672		38,230
World Wrestling Entertainment, Inc. — Class A		659		38,149
Fox Corp. — Class A		973		36,127
Yelp, Inc. — Class A^*		738		29,491
Walt Disney Co.^*		166		29,178
AT&T, Inc.¹		572		16,462
Total Communications				1,773,808
Utilities - 9.5%
CMS Energy Corp.		2,147		126,845
Southern Co.¹		2,092		126,587
Public Service Enterprise Group, Inc.¹		2,115		126,350
UGI Corp.¹		2,682		124,203
IDACORP, Inc.¹		1,273		124,117
DTE Energy Co.		948		122,861
MGE Energy, Inc.		1,561		116,201
American States Water Co.		1,388		110,429
Chesapeake Utilities Corp.		752		90,488
New Jersey Resources Corp.		2,169		85,827
Sempra Energy¹		633		83,860
American Water Works Company, Inc.		508		78,298
Pinnacle West Capital Corp.¹		933		76,478
Avista Corp.		1,495		63,792
WEC Energy Group, Inc.		710		63,154
National Fuel Gas Co.		1,014		52,982
Portland General Electric Co.		995		45,850
Total Utilities				1,618,322
Basic Materials - 1.4%
Reliance Steel & Aluminum Co.		473		71,376
NewMarket Corp.		178		57,312
Commercial Metals Co.		1,301		39,967
Ingevity Corp.^*		485		39,460
Celanese Corp. — Class A		192		29,107
Total Basic Materials				237,222
Energy - 1.3%
Williams Companies, Inc.		2,443		64,862
Kinder Morgan, Inc.		3,422		62,383
Antero Midstream Corp.		3,577		37,165
Chevron Corp.		272		28,489
Equitrans Midstream Corp.		3,100		26,381
Total Energy				219,280
Total Common Stocks
(Cost $14,581,003)				16,599,430

MONEY MARKET FUND^† - 7.8%
Invesco Short-Term Investments Trust Treasury Obligations Portfolio, — Institutional Class 0.01%²	1,320,336		1,320,336
Total Money Market Fund
(Cost $1,320,336)			1,320,336
Total Investments - 105.5%
(Cost $15,901,339)		$	17,919,766
Other Assets & Liabilities, net - (5.5)%			(937,257	)
Total Net Assets - 100.0%		$	16,982,509

Custom Basket Swap Agreements
Counterparty	Reference Obligation	Financing Rate Pay (Receive)	Payment Frequency	Maturity Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)
OTC Custom Basket Swap Agreements ^††
Morgan Stanley Capital Services LLC	MS Equity Custom Basket	0.50% (Federal Funds Rate + 0.40%)	At Maturity	03/27/24	$	6,077,132	$	465,996

Goldman Sachs International	GS Equity Custom Basket	0.55% (Federal Funds Rate + 0.45%)	At Maturity	05/06/24		6,046,770		461,520
					$	12,123,902	$	927,516
OTC Custom Basket Swap Agreements Sold Short ^††
Morgan Stanley Capital Services LLC	MS Equity Custom Basket	(0.20%) (Federal Funds Rate - 0.30%)	At Maturity	03/27/24	$	7,387,624	$	(348,178	)
Goldman Sachs International	GS Equity Custom Basket	(0.10%) (Federal Funds Rate - 0.20%)	At Maturity	05/06/24	$	7,623,416	$	(353,221	)
					$	15,011,040	$	(701,399	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

GS EQUITY LONG CUSTOM BASKET
	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Financial
Berkshire Hathaway, Inc. — Class B		241		1.12	%	$	7,889
Allstate Corp.		301		0.65	%		7,733
Synchrony Financial		797		0.64	%		6,005
JPMorgan Chase & Co.		91		0.23	%		4,474
Aflac, Inc.		758		0.67	%		4,318
Travelers Companies, Inc.		160		0.40	%		3,348
Mercury General Corp.		542		0.58	%		2,411
Highwoods Properties, Inc.		811		0.61	%		2,261
Visa, Inc. — Class A		46		0.18	%		2,025
Jefferies Financial Group, Inc.		747		0.42	%		1,550
Progressive Corp.		298		0.48	%		1,450
Western Union Co.		502		0.19	%		1,135
Cboe Global Markets, Inc.		167		0.33	%		956
Mastercard, Inc. — Class A		29		0.18	%		933
Federated Hermes, Inc. — Class B		584		0.33	%		913
Houlihan Lokey, Inc.		254		0.34	%		658
Marsh & McLennan Companies, Inc.		171		0.40	%		407
Brown & Brown, Inc.		210		0.18	%		242
Sabra Health Care REIT, Inc.		623		0.19	%		212
Interactive Brokers Group, Inc. — Class A		309		0.34	%		129
OneMain Holdings, Inc.		246		0.24	%		115
Janus Henderson Group plc		463		0.30	%		(90	)
Arch Capital Group Ltd.		581		0.37	%		(142	)
SEI Investments Co.		276		0.28	%		(172	)
Evercore, Inc. — Class A		162		0.38	%		(175	)
W R Berkley Corp.		146		0.18	%		(209	)
RenaissanceRe Holdings Ltd.		114		0.28	%		(237	)
Everest Re Group Ltd.		93		0.39	%		(248	)
Raymond James Financial, Inc.		284		0.61	%		(281	)
Markel Corp.		20		0.39	%		(386	)
Brighthouse Financial, Inc.		477		0.36	%		(522	)
Radian Group, Inc.		734		0.27	%		(532	)
Citigroup, Inc.		192		0.22	%		(579	)
Artisan Partners Asset Management, Inc. — Class A		201		0.17	%		(599	)
Stewart Information Services Corp.		236		0.22	%		(640	)
Cincinnati Financial Corp.		131		0.25	%		(679	)
Affiliated Managers Group, Inc.		104		0.27	%		(718	)
MGIC Investment Corp.		857		0.19	%		(763	)
First American Financial Corp.		232		0.24	%		(798	)
Capital One Financial Corp.		145		0.37	%		(807	)
AMERISAFE, Inc.		310		0.31	%		(812	)
Lexington Realty Trust		847		0.17	%		(838	)
Enstar Group Ltd.		98		0.39	%		(859	)
Safety Insurance Group, Inc.		390		0.50	%		(896	)
Brandywine Realty Trust		2,462		0.56	%		(960	)
Hanover Insurance Group, Inc.		294		0.66	%		(1,102	)
Essent Group Ltd.		457		0.34	%		(1,284	)
Discover Financial Services		239		0.47	%		(1,299	)
BankUnited, Inc.		403		0.28	%		(1,485	)
Old Republic International Corp.		1,333		0.55	%		(1,880	)
Associated Banc-Corp.		1,067		0.36	%		(2,000	)
Healthcare Realty Trust, Inc.		1,092		0.55	%		(2,113	)
Total Financial							25,059
Communications
Alphabet, Inc. — Class C		39		1.62	%		21,696
Amazon.com, Inc.		13		0.74	%		14,844
Facebook, Inc. — Class A		90		0.52	%		11,620
Viavi Solutions, Inc.		2,697		0.79	%		9,908
Cisco Systems, Inc.		771		0.68	%		8,547
VeriSign, Inc.		233		0.88	%		5,567
Motorola Solutions, Inc.		89		0.32	%		4,740
Juniper Networks, Inc.		812		0.37	%		4,028
Ciena Corp.		248		0.23	%		3,148
Comcast Corp. — Class A		252		0.24	%		2,689
Walt Disney Co.		61		0.18	%		1,374
Omnicom Group, Inc.		559		0.74	%		1,230
InterDigital, Inc.		233		0.28	%		270
Cogent Communications Holdings, Inc.		317		0.40	%		105
Yelp, Inc. — Class A		272		0.18	%		(82	)
Fox Corp. — Class A		359		0.22	%		(254	)
TEGNA, Inc.		1,094		0.34	%		(414	)
F5 Networks, Inc.		80		0.25	%		(419	)
Nexstar Media Group, Inc. — Class A		96		0.23	%		(469	)
Verizon Communications, Inc.		726		0.67	%		(528	)
AT&T, Inc.		211		0.10	%		(703	)
World Wrestling Entertainment, Inc. — Class A		243		0.23	%		(998	)
Telephone & Data Systems, Inc.		916		0.34	%		(1,811	)
Total Communications							84,088
Consumer, Non-cyclical
Molson Coors Beverage Co. — Class B		607		0.54	%		8,593
McKesson Corp.		136		0.43	%		7,975
Amgen, Inc.		186		0.75	%		7,064
Johnson & Johnson		285		0.78	%		6,514
United Therapeutics Corp.		145		0.43	%		5,087
Thermo Fisher Scientific, Inc.		76		0.63	%		4,618
H&R Block, Inc.		795		0.31	%		4,413
Laboratory Corporation of America Holdings		53		0.24	%		3,874
Prestige Consumer Healthcare, Inc.		393		0.34	%		3,163
Regeneron Pharmaceuticals, Inc.		60		0.55	%		3,127
PayPal Holdings, Inc.		40		0.19	%		3,042

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Bristol-Myers Squibb Co.		773		0.85	%	$	2,936
UnitedHealth Group, Inc.		27		0.18	%		2,887
Philip Morris International, Inc.		111		0.18	%		2,579
Bio-Rad Laboratories, Inc. — Class A		53		0.56	%		2,329
Vector Group Ltd.		878		0.21	%		2,128
Procter & Gamble Co.		81		0.18	%		2,070
J M Smucker Co.		79		0.17	%		2,064
Abbott Laboratories		154		0.30	%		1,932
Hill-Rom Holdings, Inc.		118		0.22	%		1,725
Pfizer, Inc.		891		0.58	%		1,641
Hershey Co.		159		0.46	%		1,604
Humana, Inc.		42		0.31	%		1,598
Quest Diagnostics, Inc.		141		0.31	%		1,384
Vanda Pharmaceuticals, Inc.		576		0.20	%		1,320
Merck & Company, Inc.		558		0.72	%		1,307
Masimo Corp.		49		0.20	%		1,053
PerkinElmer, Inc.		129		0.33	%		1,043
PepsiCo, Inc.		123		0.30	%		960
Eagle Pharmaceuticals, Inc.		462		0.33	%		759
Innoviva, Inc.		1,119		0.25	%		742
Vertex Pharmaceuticals, Inc.		103		0.34	%		630
Bruker Corp.		148		0.19	%		439
HCA Healthcare, Inc.		51		0.17	%		432
Blueprint Medicines Corp.		198		0.29	%		383
Zoetis, Inc.		59		0.18	%		360
Incyte Corp.		293		0.41	%		276
Organon & Co.		1		0.00	%		(4	)
Hologic, Inc.		396		0.44	%		(133	)
Gilead Sciences, Inc.		776		0.88	%		(184	)
Chemed Corp.		37		0.29	%		(213	)
Baxter International, Inc.		132		0.18	%		(306	)
Grand Canyon Education, Inc.		138		0.21	%		(437	)
John B Sanfilippo & Son, Inc.		310		0.45	%		(554	)
Coherus Biosciences, Inc.		1,012		0.23	%		(625	)
Exelixis, Inc.		623		0.19	%		(2,947	)
Total Consumer, Non-cyclical							88,648
Consumer, Cyclical
Gentherm, Inc.		312		0.37	%		8,809
AutoZone, Inc.		39		0.96	%		8,092
AutoNation, Inc.		212		0.33	%		5,018
Brunswick Corp.		254		0.42	%		5,007
O'Reilly Automotive, Inc.		92		0.86	%		4,941
Cummins, Inc.		127		0.51	%		4,750
Home Depot, Inc.		35		0.18	%		2,993
Genuine Parts Co.		88		0.18	%		2,724
MSC Industrial Direct Company, Inc. — Class A		277		0.41	%		2,646
PulteGroup, Inc.		392		0.35	%		2,589
Lowe's Companies, Inc.		233		0.75	%		2,584
Lennar Corp. — Class A		128		0.21	%		2,226
Dolby Laboratories, Inc. — Class A		259		0.42	%		2,045
Gentex Corp.		1,380		0.76	%		1,895
Deckers Outdoor Corp.		32		0.20	%		1,618
Polaris, Inc.		125		0.28	%		952
NVR, Inc.		3		0.25	%		870
Target Corp.		46		0.18	%		410
WW Grainger, Inc.		66		0.48	%		372
Best Buy Company, Inc.		200		0.38	%		78
Dick's Sporting Goods, Inc.		112		0.19	%		66
LKQ Corp.		227		0.18	%		(83	)
Fastenal Co.		206		0.18	%		(139	)
Carter's, Inc.		196		0.33	%		(283	)
Tri Pointe Homes, Inc.		495		0.18	%		(342	)
Whirlpool Corp.		84		0.30	%		(594	)
Meritage Homes Corp.		138		0.21	%		(599	)
Murphy USA, Inc.		148		0.33	%		(780	)
Allison Transmission Holdings, Inc.		751		0.49	%		(1,201	)
Tesla, Inc.		18		0.20	%		(1,674	)
Yum! Brands, Inc.		393		0.75	%		(1,762	)
Total Consumer, Cyclical							53,228
Energy
Antero Midstream Corp.		1,322		0.23	%		(223	)
Chevron Corp.		100		0.17	%		(344	)
Williams Companies, Inc.		903		0.40	%		(1,140	)
Kinder Morgan, Inc.		1,264		0.38	%		(1,199	)
Equitrans Midstream Corp.		1,145		0.16	%		(1,311	)
Total Energy							(4,217	)
Utilities
UGI Corp.		991		0.76	%		8,321
Public Service Enterprise Group, Inc.		781		0.77	%		1,948
Southern Co.		773		0.77	%		1,215
IDACORP, Inc.		470		0.76	%		593
Pinnacle West Capital Corp.		344		0.47	%		521
Chesapeake Utilities Corp.		277		0.55	%		(15	)
Sempra Energy		234		0.51	%		(502	)
WEC Energy Group, Inc.		262		0.39	%		(931	)
American Water Works Company, Inc.		187		0.48	%		(1,011	)
CMS Energy Corp.		793		0.77	%		(1,016	)
MGE Energy, Inc.		577		0.71	%		(1,023	)
National Fuel Gas Co.		375		0.32	%		(1,055	)
DTE Energy Co.		350		0.75	%		(1,186	)
American States Water Co.		513		0.67	%		(1,303	)
Avista Corp.		552		0.39	%		(1,683	)
Portland General Electric Co.		368		0.28	%		(1,721	)
New Jersey Resources Corp.		801		0.52	%		(3,450	)
Total Utilities							(2,298	)
Industrial
Owens Corning		206		0.33	%		7,887
Oshkosh Corp.		225		0.46	%		7,541
AGCO Corp.		109		0.24	%		6,951
Acuity Brands, Inc.		79		0.24	%		6,923
Snap-on, Inc.		106		0.39	%		6,860
Waters Corp.		57		0.33	%		5,922
Vishay Intertechnology, Inc.		1,518		0.57	%		5,192
3M Co.		148		0.49	%		4,794
Timken Co.		244		0.33	%		4,512
Mettler-Toledo International, Inc.		21		0.48	%		3,775

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Lincoln Electric Holdings, Inc.		122		0.27	%	$	3,617
Arrow Electronics, Inc.		88		0.17	%		3,402
Northrop Grumman Corp.		68		0.41	%		3,231
Agilent Technologies, Inc.		155		0.38	%		2,823
Lennox International, Inc.		46		0.27	%		2,763
Toro Co.		514		0.93	%		2,023
Sealed Air Corp.		254		0.25	%		1,988
Donaldson Company, Inc.		712		0.75	%		1,615
Sturm Ruger & Company, Inc.		140		0.21	%		1,544
Berry Global Group, Inc.		163		0.18	%		1,430
Lockheed Martin Corp.		35		0.22	%		1,202
OSI Systems, Inc.		273		0.46	%		978
Masco Corp.		417		0.41	%		888
Watts Water Technologies, Inc. — Class A		233		0.56	%		799
Keysight Technologies, Inc.		101		0.26	%		734
Parker-Hannifin Corp.		74		0.38	%		625
A O Smith Corp.		163		0.19	%		584
Graco, Inc.		149		0.19	%		362
Carlisle Companies, Inc.		82		0.26	%		228
Garmin Ltd.		277		0.66	%		164
Pentair plc		170		0.19	%		76
Huntington Ingalls Industries, Inc.		80		0.28	%		(50	)
Fortive Corp.		277		0.32	%		(237	)
Louisiana-Pacific Corp.		309		0.31	%		(245	)
Sanmina Corp.		359		0.23	%		(451	)
Worthington Industries, Inc.		204		0.21	%		(747	)
Boise Cascade Co.		239		0.23	%		(917	)
Hillenbrand, Inc.		334		0.24	%		(1,656	)
Eagle Materials, Inc.		238		0.56	%		(2,106	)
MDU Resources Group, Inc.		1,421		0.74	%		(2,924	)
Total Industrial							82,100
Technology
Apple, Inc.		489		1.11	%		30,193
Microsoft Corp.		366		1.64	%		25,032
Kulicke & Soffa Industries, Inc.		290		0.29	%		9,935
Seagate Technology Holdings plc		270		0.39	%		9,907
NetApp, Inc.		217		0.29	%		7,745
HP, Inc.		813		0.41	%		7,728
Texas Instruments, Inc.		193		0.61	%		6,860
KLA Corp.		34		0.18	%		4,739
Rambus, Inc.		1,179		0.46	%		4,521
NVIDIA Corp.		15		0.20	%		4,123
CDK Global, Inc.		502		0.41	%		3,353
Oracle Corp.		132		0.17	%		3,162
International Business Machines Corp.		120		0.29	%		3,117
Cerner Corp.		344		0.44	%		2,839
Adobe, Inc.		13		0.13	%		2,822
Cirrus Logic, Inc.		250		0.35	%		2,640
QUALCOMM, Inc.		112		0.26	%		2,503
Cadence Design Systems, Inc.		279		0.63	%		2,226
Broadcom, Inc.		56		0.44	%		2,178
Dropbox, Inc. — Class A		367		0.18	%		2,058
Intel Corp.		393		0.36	%		1,803
CSG Systems International, Inc.		1,140		0.89	%		1,691
Qorvo, Inc.		68		0.22	%		1,647
Paychex, Inc.		128		0.23	%		1,474
Accenture plc — Class A		38		0.19	%		1,410
Synaptics, Inc.		78		0.20	%		1,230
Synopsys, Inc.		41		0.19	%		1,030
Lumentum Holdings, Inc.		188		0.26	%		230
salesforce.com, Inc.		30		0.12	%		145
ExlService Holdings, Inc.		104		0.18	%		117
Electronic Arts, Inc.		237		0.56	%		(313	)
Progress Software Corp.		398		0.30	%		(605	)
MAXIMUS, Inc.		138		0.20	%		(769	)
NetScout Systems, Inc.		355		0.17	%		(798	)
Take-Two Interactive Software, Inc.		123		0.36	%		(1,091	)
Activision Blizzard, Inc.		440		0.69	%		(1,203	)
Cognizant Technology Solutions Corp. — Class A		299		0.34	%		(1,779	)
Total Technology							141,900
Basic Materials
Arconic Corp.		1		0.00	%		10
Ingevity Corp.		179		0.24	%		(407	)
Celanese Corp. — Class A		71		0.18	%		(635	)
NewMarket Corp.		65		0.35	%		(903	)
Commercial Metals Co.		481		0.24	%		(1,231	)
Reliance Steel & Aluminum Co.		174		0.43	%		(3,822	)
Total Basic Materials							(6,988	)
Total GS Equity Long Custom Basket						$	461,520

GS EQUITY SHORT CUSTOM BASKET
Financial
JBG SMITH Properties	3,478	(1.45	)%	4,874
Lincoln National Corp.	882	(0.73	)%	4,413
Alexandria Real Estate Equities, Inc.	353	(0.84	)%	3,770
American International Group, Inc.	846	(0.53	)%	3,758
U.S. Bancorp	1,756	(1.31	)%	3,620
Truist Financial Corp.	1,434	(1.04	)%	3,610
Prudential Financial, Inc.	982	(1.32	)%	3,131
Comerica, Inc.	586	(0.55	)%	1,466
Bank of America Corp.	2,513	(1.36	)%	1,308
UDR, Inc.	2,277	(1.46	)%	1,297
State Street Corp.	860	(0.93	)%	1,290
Equitable Holdings, Inc.	1,473	(0.59	)%	1,032
CyrusOne, Inc.	633	(0.59	)%	1,011
Mid-America Apartment Communities, Inc.	354	(0.78	)%	922
Global Net Lease, Inc.	1,755	(0.43	)%	804
Ryman Hospitality Properties, Inc.	376	(0.39	)%	739
Wells Fargo & Co.	559	(0.33	)%	131
SBA Communications Corp.	90	(0.38	)%	(165	)
Crown Castle International Corp.	244	(0.62	)%	(209	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Bank of New York Mellon Corp.		510		(0.34	)%	$	(463	)
Host Hotels & Resorts, Inc.		3,476		(0.78	)%		(676	)
Digital Realty Trust, Inc.		514		(1.01	)%		(1,396	)
Welltower, Inc.		590		(0.64	)%		(2,301	)
American Homes 4 Rent — Class A		945		(0.48	)%		(2,977	)
Federal Realty Investment Trust		312		(0.48	)%		(3,048	)
Charles Schwab Corp.		1,354		(1.29	)%		(3,488	)
Americold Realty Trust		2,262		(1.12	)%		(3,853	)
Invitation Homes, Inc.		1,472		(0.72	)%		(4,109	)
Healthpeak Properties, Inc.		3,139		(1.37	)%		(4,803	)
American Tower Corp. — Class A		122		(0.43	)%		(8,142	)
Howard Hughes Corp.		478		(0.61	)%		(9,635	)
Rayonier, Inc.		1,636		(0.77	)%		(10,194	)
Prologis, Inc.		618		(0.97	)%		(12,086	)
Equinix, Inc.		111		(1.17	)%		(12,405	)
Brookline Bancorp, Inc.		3,098		(0.61	)%		(12,851	)
Loews Corp.		817		(0.59	)%		(12,917	)
Morgan Stanley		2,572		(3.09	)%		(13,081	)
Camden Property Trust		561		(0.98	)%		(17,878	)
Sun Communities, Inc.		504		(1.13	)%		(19,912	)
Rexford Industrial Realty, Inc.		1,501		(1.12	)%		(25,156	)
First Republic Bank		660		(1.62	)%		(33,720	)
Total Financial							(178,289	)
Consumer, Non-cyclical
Verisk Analytics, Inc. — Class A		738		(1.69	)%		7,865
Archer-Daniels-Midland Co.		1,406		(1.12	)%		7,101
ManpowerGroup, Inc.		598		(0.93	)%		2,044
CoStar Group, Inc.		760		(0.83	)%		1,716
Cooper Companies, Inc.		69		(0.36	)%		511
McCormick & Company, Inc.		725		(0.84	)%		17
Brink's Co.		451		(0.45	)%		(319	)
Alnylam Pharmaceuticals, Inc.		158		(0.35	)%		(969	)
Guardant Health, Inc.		316		(0.51	)%		(1,200	)
Rollins, Inc.		1,502		(0.67	)%		(1,408	)
TransUnion		729		(1.05	)%		(5,748	)
Avalara, Inc.		127		(0.27	)%		(7,280	)
Cintas Corp.		358		(1.79	)%		(10,811	)
Equifax, Inc.		276		(0.87	)%		(19,869	)
Total Consumer, Non-cyclical							(28,350	)
Industrial
Jacobs Engineering Group, Inc.		905		(1.58	)%		5,960
Ball Corp.		535		(0.57	)%		4,487
Stericycle, Inc.		1,560		(1.46	)%		4,080
XPO Logistics, Inc.		393		(0.72	)%		3,365
Norfolk Southern Corp.		352		(1.23	)%		2,221
Exponent, Inc.		347		(0.41	)%		2,155
MSA Safety, Inc.		335		(0.73	)%		190
US Ecology, Inc.		1,094		(0.54	)%		36
FedEx Corp.		174		(0.68	)%		(513	)
Raytheon Technologies Corp.		1,148		(1.28	)%		(714	)
United Parcel Service, Inc. — Class B		140		(0.38	)%		(792	)
Republic Services, Inc. — Class A		1,161		(1.68	)%		(1,027	)
Boeing Co.		224		(0.70	)%		(1,233	)
TransDigm Group, Inc.		52		(0.44	)%		(2,330	)
Waste Management, Inc.		892		(1.64	)%		(3,082	)
Tetra Tech, Inc.		330		(0.53	)%		(8,063	)
Ingersoll Rand, Inc.		1,169		(0.75	)%		(9,307	)
Casella Waste Systems, Inc. — Class A		1,324		(1.10	)%		(12,520	)
Total Industrial							(17,087	)
Utilities
Atmos Energy Corp.		1,038		(1.31	)%		5,443
Exelon Corp.		2,164		(1.26	)%		4,708
ONE Gas, Inc.		1,377		(1.34	)%		4,461
Xcel Energy, Inc.		1,281		(1.11	)%		4,162
Black Hills Corp.		667		(0.57	)%		2,443
OGE Energy Corp.		1,578		(0.70	)%		2,209
CenterPoint Energy, Inc.		1,328		(0.43	)%		1,795
Edison International		1,895		(1.44	)%		(289	)
Total Utilities							24,932
Consumer, Cyclical
JetBlue Airways Corp.		3,746		(0.82	)%		6,950
United Airlines Holdings, Inc.		1,466		(1.01	)%		6,473
IAA, Inc.		842		(0.60	)%		4,207
Delta Air Lines, Inc.		2,354		(1.34	)%		1,501
Freshpet, Inc.		326		(0.70	)%		1,417
Marriott International, Inc. — Class A		181		(0.32	)%		1,238
Hilton Worldwide Holdings, Inc.		287		(0.45	)%		927
Alaska Air Group, Inc.		1,245		(0.98	)%		(1,890	)
Southwest Airlines Co.		1,890		(1.32	)%		(6,204	)
Copart, Inc.		635		(1.10	)%		(16,846	)
Total Consumer, Cyclical							(2,227	)
Energy
Baker Hughes Co.		1,729		(0.52	)%		5,145
Schlumberger N.V.		3,549		(1.49	)%		2,152
Phillips 66		281		(0.32	)%		167
Pioneer Natural Resources Co.		772		(1.65	)%		(4,909	)
NOV, Inc.		2,086		(0.42	)%		(7,178	)
Hess Corp.		599		(0.69	)%		(11,641	)
ChampionX Corp.		2,338		(0.79	)%		(16,936	)
Halliburton Co.		5,274		(1.60	)%		(21,965	)
Ovintiv, Inc.		2,359		(0.97	)%		(31,552	)
Total Energy							(86,717	)
Technology
KBR, Inc.		1,964		(0.98	)%		3,364
Leidos Holdings, Inc.		570		(0.76	)%		2,819
Blackline, Inc.		165		(0.24	)%		747
Clarivate plc		1,461		(0.53	)%		(923	)
Sailpoint Technologies Holdings, Inc.		370		(0.25	)%		(1,087	)
Twilio, Inc. — Class A		53		(0.27	)%		(1,642	)
Tyler Technologies, Inc.		41		(0.24	)%		(2,541	)
Ceridian HCM Holding, Inc.		391		(0.49	)%		(3,161	)
Coupa Software, Inc.		146		(0.50	)%		(3,370	)
Smartsheet, Inc. — Class A		271		(0.26	)%		(6,517	)
Rapid7, Inc.		403		(0.50	)%		(8,447	)
HubSpot, Inc.		34		(0.26	)%		(10,430	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Total Technology						$	(31,188	)
Communications
Anaplan, Inc.		329		(0.23	)%		1,196
Okta, Inc.		164		(0.53	)%		(148	)
Uber Technologies, Inc.		1,078		(0.71	)%		(362	)
Q2 Holdings, Inc.		566		(0.76	)%		(5,990	)
Zendesk, Inc.		261		(0.49	)%		(10,118	)
Liberty Broadband Corp. — Class C		356		(0.81	)%		(10,787	)
Total Communications							(26,209	)
Basic Materials
Linde plc		89		(0.34	)%		(956	)
Quaker Chemical Corp.		160		(0.50	)%		(7,130	)
Total Basic Materials							(8,086	)
Total GS Equity Short Custom Basket						$	(353,221	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

MS EQUITY LONG CUSTOM BASKET
	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Industrial
Oshkosh Corp.		225		0.48	%	$	7,999
Owens Corning		206		0.33	%		7,873
AGCO Corp.		109		0.23	%		6,961
Acuity Brands, Inc.		79		0.24	%		6,905
Snap-on, Inc.		106		0.39	%		6,888
Waters Corp.		57		0.32	%		5,929
Vishay Intertechnology, Inc.		1,518		0.56	%		5,221
3M Co.		148		0.48	%		4,772
Timken Co.		244		0.32	%		4,483
Mettler-Toledo International, Inc.		21		0.48	%		3,742
Lincoln Electric Holdings, Inc.		122		0.26	%		3,640
Arrow Electronics, Inc.		88		0.16	%		3,440
Northrop Grumman Corp.		68		0.41	%		3,206
Agilent Technologies, Inc.		155		0.38	%		2,818
Lennox International, Inc.		46		0.27	%		2,758
Toro Co.		514		0.93	%		2,095
Sealed Air Corp.		254		0.25	%		1,980
Donaldson Company, Inc.		712		0.74	%		1,644
Sturm Ruger & Company, Inc.		140		0.21	%		1,538
Berry Global Group, Inc.		163		0.17	%		1,428
Lockheed Martin Corp.		35		0.22	%		1,184
OSI Systems, Inc.		273		0.46	%		987
Masco Corp.		417		0.40	%		895
Watts Water Technologies, Inc. — Class A		233		0.56	%		780
Keysight Technologies, Inc.		101		0.26	%		733
Parker-Hannifin Corp.		74		0.37	%		631
A O Smith Corp.		163		0.19	%		591
Graco, Inc.		149		0.19	%		346
Carlisle Companies, Inc.		82		0.26	%		203
Garmin Ltd.		277		0.66	%		88
Pentair plc		170		0.19	%		85
Huntington Ingalls Industries, Inc.		80		0.28	%		(34	)
Fortive Corp.		277		0.32	%		(224	)
Louisiana-Pacific Corp.		309		0.31	%		(242	)
Sanmina Corp.		359		0.23	%		(445	)
Worthington Industries, Inc.		204		0.21	%		(779	)
Boise Cascade Co.		239		0.23	%		(874	)
Hillenbrand, Inc.		334		0.24	%		(1,653	)
Eagle Materials, Inc.		238		0.56	%		(2,047	)
MDU Resources Group, Inc.		1,421		0.73	%		(2,925	)
Total Industrial							82,620
Financial
Berkshire Hathaway, Inc. — Class B		241		1.10	%		7,919
Allstate Corp.		301		0.65	%		7,705
Synchrony Financial		797		0.64	%		6,019
JPMorgan Chase & Co.		91		0.23	%		4,464
Aflac, Inc.		758		0.67	%		4,328
Travelers Companies, Inc.		160		0.39	%		3,338
Mercury General Corp.		542		0.58	%		2,427
Highwoods Properties, Inc.		811		0.60	%		2,295
Visa, Inc. — Class A		46		0.18	%		1,993
Jefferies Financial Group, Inc.		747		0.42	%		1,623
Progressive Corp.		298		0.48	%		1,437
Western Union Co.		502		0.19	%		1,137
Mastercard, Inc. — Class A		29		0.17	%		925
Cboe Global Markets, Inc.		167		0.33	%		924
Federated Hermes, Inc. — Class B		584		0.33	%		867
Houlihan Lokey, Inc.		254		0.34	%		606
Marsh & McLennan Companies, Inc.		171		0.40	%		394
Brown & Brown, Inc.		210		0.18	%		246
Goldman Sachs Group, Inc.		80		0.50	%		230
Sabra Health Care REIT, Inc.		623		0.19	%		210
OneMain Holdings, Inc.		246		0.24	%		158
Interactive Brokers Group, Inc. — Class A		309		0.33	%		145
Janus Henderson Group plc		463		0.30	%		(96	)
Arch Capital Group Ltd.		581		0.37	%		(129	)
Evercore, Inc. — Class A		162		0.38	%		(164	)
SEI Investments Co.		276		0.28	%		(180	)
W R Berkley Corp.		146		0.18	%		(193	)
RenaissanceRe Holdings Ltd.		114		0.28	%		(216	)
Everest Re Group Ltd.		93		0.39	%		(242	)
Raymond James Financial, Inc.		284		0.61	%		(242	)
Markel Corp.		20		0.39	%		(360	)
Radian Group, Inc.		734		0.27	%		(492	)
Brighthouse Financial, Inc.		477		0.36	%		(495	)
Citigroup, Inc.		192		0.22	%		(571	)
Artisan Partners Asset Management, Inc. — Class A		201		0.17	%		(600	)
Stewart Information Services Corp.		236		0.22	%		(633	)
Cincinnati Financial Corp.		131		0.25	%		(666	)
Affiliated Managers Group, Inc.		104		0.26	%		(708	)
MGIC Investment Corp.		857		0.19	%		(719	)
Capital One Financial Corp.		145		0.37	%		(784	)
AMERISAFE, Inc.		310		0.30	%		(799	)
First American Financial Corp.		232		0.24	%		(806	)
Enstar Group Ltd.		98		0.39	%		(846	)
Lexington Realty Trust		847		0.17	%		(865	)
Safety Insurance Group, Inc.		390		0.50	%		(905	)
Brandywine Realty Trust		2,462		0.56	%		(949	)
Hanover Insurance Group, Inc.		294		0.66	%		(1,104	)
Essent Group Ltd.		457		0.34	%		(1,220	)
Discover Financial Services		239		0.47	%		(1,265	)
BankUnited, Inc.		403		0.28	%		(1,415	)
Old Republic International Corp.		1,333		0.55	%		(1,877	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Associated Banc-Corp.		1,067		0.36	%	$	(1,956	)
Healthcare Realty Trust, Inc.		1,092		0.54	%		(2,144	)
Total Financial							25,749
Utilities
UGI Corp.		991		0.76	%		8,329
Public Service Enterprise Group, Inc.		781		0.77	%		1,943
Southern Co.		773		0.77	%		1,341
IDACORP, Inc.		470		0.75	%		561
Pinnacle West Capital Corp.		344		0.46	%		523
Chesapeake Utilities Corp.		277		0.55	%		42
Sempra Energy		234		0.51	%		(541	)
MGE Energy, Inc.		577		0.71	%		(1,000	)
WEC Energy Group, Inc.		262		0.38	%		(1,005	)
American Water Works Company, Inc.		187		0.47	%		(1,038	)
National Fuel Gas Co.		375		0.32	%		(1,063	)
CMS Energy Corp.		793		0.77	%		(1,144	)
American States Water Co.		513		0.67	%		(1,253	)
DTE Energy Co.		350		0.75	%		(1,312	)
Avista Corp.		552		0.39	%		(1,670	)
Portland General Electric Co.		368		0.28	%		(1,734	)
New Jersey Resources Corp.		801		0.52	%		(3,505	)
Total Utilities							(2,526	)
Basic Materials
Ingevity Corp.		179		0.24	%		(401	)
Celanese Corp. — Class A		71		0.18	%		(631	)
NewMarket Corp.		65		0.34	%		(909	)
Commercial Metals Co.		481		0.24	%		(1,156	)
Reliance Steel & Aluminum Co.		175		0.43	%		(3,819	)
Total Basic Materials							(6,916	)
Consumer, Cyclical
Gentherm, Inc.		312		0.36	%		8,810
AutoZone, Inc.		39		0.96	%		8,065
AutoNation, Inc.		212		0.33	%		5,037
Brunswick Corp.		254		0.42	%		5,016
O'Reilly Automotive, Inc.		92		0.86	%		4,927
Cummins, Inc.		127		0.51	%		4,759
Home Depot, Inc.		35		0.18	%		3,190
Genuine Parts Co.		88		0.18	%		2,712
MSC Industrial Direct Company, Inc. — Class A		277		0.41	%		2,658
Lowe's Companies, Inc.		233		0.74	%		2,597
PulteGroup, Inc.		392		0.35	%		2,582
Lennar Corp. — Class A		128		0.21	%		2,229
Dolby Laboratories, Inc. — Class A		259		0.42	%		2,007
Gentex Corp.		1,380		0.75	%		1,902
Deckers Outdoor Corp.		32		0.20	%		1,618
Polaris, Inc.		125		0.28	%		944
NVR, Inc.		3		0.25	%		872
Target Corp.		46		0.18	%		408
WW Grainger, Inc.		66		0.48	%		338
Best Buy Company, Inc.		200		0.38	%		80
Dick's Sporting Goods, Inc.		112		0.18	%		80
LKQ Corp.		227		0.18	%		(75	)
Fastenal Co.		206		0.18	%		(139	)
Carter's, Inc.		196		0.33	%		(280	)
Tri Pointe Homes, Inc.		495		0.17	%		(323	)
Whirlpool Corp.		84		0.30	%		(602	)
Meritage Homes Corp.		138		0.21	%		(605	)
Murphy USA, Inc.		148		0.32	%		(777	)
Allison Transmission Holdings, Inc.		751		0.49	%		(1,465	)
Yum! Brands, Inc.		393		0.74	%		(1,778	)
Tesla, Inc.		18		0.20	%		(1,874	)
Total Consumer, Cyclical							52,913
Consumer, Non-cyclical
McKesson Corp.		136		0.43	%		10,274
Molson Coors Beverage Co. — Class B		607		0.54	%		8,608
Johnson & Johnson		285		0.77	%		6,628
Amgen, Inc.		186		0.75	%		6,138
United Therapeutics Corp.		145		0.43	%		5,057
Thermo Fisher Scientific, Inc.		76		0.63	%		4,728
H&R Block, Inc.		795		0.31	%		4,421
Laboratory Corporation of America Holdings		53		0.24	%		3,872
Prestige Consumer Healthcare, Inc.		393		0.34	%		3,159
Regeneron Pharmaceuticals, Inc.		60		0.55	%		3,042
PayPal Holdings, Inc.		40		0.19	%		3,038
UnitedHealth Group, Inc.		27		0.18	%		2,904
Bristol-Myers Squibb Co.		773		0.85	%		2,901
Pfizer, Inc.		891		0.57	%		2,894
Procter & Gamble Co.		81		0.18	%		2,594
Philip Morris International, Inc.		111		0.18	%		2,581
Bio-Rad Laboratories, Inc. — Class A		53		0.56	%		2,353
Vector Group Ltd.		878		0.20	%		2,132
J M Smucker Co.		79		0.17	%		2,067
Abbott Laboratories		154		0.29	%		2,013
Hill-Rom Holdings, Inc.		118		0.22	%		1,718
Humana, Inc.		42		0.31	%		1,586
Hershey Co.		159		0.46	%		1,566
Quest Diagnostics, Inc.		141		0.31	%		1,391
Vanda Pharmaceuticals, Inc.		576		0.20	%		1,383
Merck & Company, Inc.		558		0.71	%		1,340
PepsiCo, Inc.		123		0.30	%		1,292
PerkinElmer, Inc.		129		0.33	%		1,036
Masimo Corp.		49		0.20	%		1,015
Eagle Pharmaceuticals, Inc.		462		0.33	%		925
Innoviva, Inc.		1,119		0.25	%		850
Vertex Pharmaceuticals, Inc.		103		0.34	%		549
HCA Healthcare, Inc.		51		0.17	%		439
Bruker Corp.		148		0.19	%		438
Blueprint Medicines Corp.		198		0.29	%		372
Zoetis, Inc.		59		0.18	%		348
Incyte Corp.		293		0.41	%		266
Hologic, Inc.		397		0.43	%		(175	)
Gilead Sciences, Inc.		776		0.88	%		(200	)
Chemed Corp.		37		0.29	%		(248	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Baxter International, Inc.		132		0.17	%	$	(270	)
Grand Canyon Education, Inc.		138		0.20	%		(442	)
John B Sanfilippo & Son, Inc.		310		0.45	%		(536	)
Coherus Biosciences, Inc.		1,012		0.23	%		(650	)
Exelixis, Inc.		623		0.19	%		(2,952	)
Total Consumer, Non-cyclical							92,445
Technology
Apple, Inc.		489		1.10	%		30,715
Microsoft Corp.		366		1.63	%		27,413
Kulicke & Soffa Industries, Inc.		290		0.29	%		9,906
Seagate Technology Holdings plc		270		0.39	%		9,905
NetApp, Inc.		217		0.29	%		7,737
HP, Inc.		813		0.40	%		7,713
Texas Instruments, Inc.		193		0.61	%		6,835
KLA Corp.		34		0.18	%		4,747
Rambus, Inc.		1,179		0.46	%		4,527
NVIDIA Corp.		15		0.20	%		4,132
CDK Global, Inc.		502		0.41	%		3,347
Oracle Corp.		132		0.17	%		3,304
International Business Machines Corp.		120		0.29	%		3,132
Cerner Corp.		344		0.44	%		2,832
Adobe, Inc.		13		0.13	%		2,827
Cirrus Logic, Inc.		250		0.35	%		2,622
QUALCOMM, Inc.		112		0.26	%		2,523
Broadcom, Inc.		56		0.44	%		2,223
Cadence Design Systems, Inc.		279		0.63	%		2,187
Dropbox, Inc. — Class A		367		0.18	%		2,070
CSG Systems International, Inc.		1,140		0.89	%		1,779
Qorvo, Inc.		68		0.22	%		1,649
Paychex, Inc.		128		0.23	%		1,474
Accenture plc — Class A		38		0.18	%		1,457
Synaptics, Inc.		78		0.20	%		1,216
Synopsys, Inc.		41		0.19	%		1,022
Intel Corp.		393		0.36	%		806
Lumentum Holdings, Inc.		188		0.25	%		245
salesforce.com, Inc.		30		0.12	%		148
ExlService Holdings, Inc.		104		0.18	%		134
Electronic Arts, Inc.		237		0.56	%		(326	)
Progress Software Corp.		398		0.30	%		(638	)
MAXIMUS, Inc.		138		0.20	%		(758	)
NetScout Systems, Inc.		355		0.17	%		(803	)
Take-Two Interactive Software, Inc.		123		0.36	%		(1,115	)
Activision Blizzard, Inc.		440		0.69	%		(1,188	)
Cognizant Technology Solutions Corp. — Class A		299		0.34	%		(1,768	)
Total Technology							144,031
Energy
Antero Midstream Corp.		1,322		0.23	%		(242	)
Chevron Corp.		100		0.17	%		(343	)
Williams Companies, Inc.		903		0.39	%		(1,132	)
Kinder Morgan, Inc.		1,264		0.38	%		(1,185	)
Equitrans Midstream Corp.		1,145		0.16	%		(1,293	)
Total Energy							(4,195	)
Communications
Alphabet, Inc. — Class C		39		1.61	%		20,525
Amazon.com, Inc.		13		0.74	%		14,902
Facebook, Inc. — Class A		90		0.51	%		11,621
Viavi Solutions, Inc.		2,697		0.78	%		10,055
Cisco Systems, Inc.		771		0.67	%		8,553
VeriSign, Inc.		233		0.87	%		5,565
Motorola Solutions, Inc.		89		0.32	%		4,734
Juniper Networks, Inc.		812		0.37	%		3,995
Ciena Corp.		248		0.23	%		3,119
Comcast Corp. — Class A		252		0.24	%		2,704
Omnicom Group, Inc.		559		0.74	%		1,665
Walt Disney Co.		61		0.18	%		1,364
InterDigital, Inc.		233		0.28	%		278
Cogent Communications Holdings, Inc.		317		0.40	%		94
Yelp, Inc. — Class A		272		0.18	%		(136	)
Fox Corp. — Class A		359		0.22	%		(250	)
TEGNA, Inc.		1,094		0.34	%		(392	)
F5 Networks, Inc.		80		0.25	%		(404	)
Nexstar Media Group, Inc. — Class A		96		0.23	%		(468	)
AT&T, Inc.		211		0.10	%		(553	)
World Wrestling Entertainment, Inc. — Class A		243		0.23	%		(1,009	)
Telephone & Data Systems, Inc.		916		0.34	%		(1,775	)
Verizon Communications, Inc.		726		0.67	%		(2,312	)
Total Communications							81,875
Total MS Equity Long Custom Basket						$	465,996

MS EQUITY SHORT CUSTOM BASKET
Financial
JBG SMITH Properties	3,478	(1.48	)%	4,873
Lincoln National Corp.	882	(0.75	)%	4,238
Alexandria Real Estate Equities, Inc.	353	(0.87	)%	3,790
American International Group, Inc.	846	(0.55	)%	3,721
U.S. Bancorp	1,756	(1.35	)%	3,619
Truist Financial Corp.	1,434	(1.08	)%	3,601
Prudential Financial, Inc.	982	(1.36	)%	3,004
Comerica, Inc.	586	(0.57	)%	1,354
Bank of America Corp.	2,513	(1.40	)%	1,293
UDR, Inc.	2,277	(1.51	)%	1,256
State Street Corp.	860	(0.96	)%	1,245
CyrusOne, Inc.	633	(0.61	)%	1,111
Equitable Holdings, Inc.	1,473	(0.61	)%	999
Mid-America Apartment Communities, Inc.	354	(0.81	)%	918
Global Net Lease, Inc.	1,755	(0.44	)%	812
Ryman Hospitality Properties, Inc.	376	(0.40	)%	703
Wells Fargo & Co.	559	(0.34	)%	124
Americold Realty Trust	2,262	(1.16	)%	(97	)
SBA Communications Corp.	90	(0.39	)%	(161	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Crown Castle International Corp.		244		(0.64	)%	$	(219	)
Bank of New York Mellon Corp.		510		(0.35	)%		(466	)
Host Hotels & Resorts, Inc.		3,476		(0.80	)%		(781	)
Digital Realty Trust, Inc.		514		(1.05	)%		(1,413	)
Welltower, Inc.		590		(0.66	)%		(2,303	)
American Homes 4 Rent — Class A		945		(0.50	)%		(3,013	)
Federal Realty Investment Trust		312		(0.49	)%		(3,218	)
Charles Schwab Corp.		1,354		(1.33	)%		(3,538	)
Invitation Homes, Inc.		1,472		(0.74	)%		(4,171	)
Healthpeak Properties, Inc.		3,139		(1.41	)%		(4,808	)
American Tower Corp. — Class A		122		(0.45	)%		(8,143	)
Howard Hughes Corp.		478		(0.63	)%		(9,767	)
Rayonier, Inc.		1,636		(0.80	)%		(10,226	)
Prologis, Inc.		618		(1.00	)%		(12,175	)
Brookline Bancorp, Inc.		3,098		(0.63	)%		(12,831	)
Loews Corp.		817		(0.60	)%		(12,935	)
Equinix, Inc.		111		(1.21	)%		(13,889	)
Camden Property Trust		561		(1.01	)%		(17,888	)
Sun Communities, Inc.		504		(1.17	)%		(24,049	)
Rexford Industrial Realty, Inc.		1,501		(1.16	)%		(30,482	)
First Republic Bank		660		(1.67	)%		(33,766	)
Total Financial							(173,678	)
Energy
Baker Hughes Co.		1,729		(0.54	)%		5,164
Schlumberger N.V.		3,549		(1.54	)%		2,010
Phillips 66		281		(0.33	)%		168
Pioneer Natural Resources Co.		772		(1.70	)%		(4,820	)
NOV, Inc.		2,086		(0.43	)%		(7,165	)
Hess Corp.		599		(0.71	)%		(11,598	)
ChampionX Corp.		2,338		(0.81	)%		(16,918	)
Halliburton Co.		5,274		(1.65	)%		(21,915	)
Ovintiv, Inc.		2,359		(1.00	)%		(31,702	)
Total Energy							(86,776	)
Industrial
Jacobs Engineering Group, Inc.		905		(1.63	)%		5,949
Ball Corp.		535		(0.59	)%		4,485
Stericycle, Inc.		1,560		(1.51	)%		4,107
XPO Logistics, Inc.		393		(0.74	)%		3,411
Norfolk Southern Corp.		352		(1.26	)%		2,230
Exponent, Inc.		347		(0.42	)%		2,114
MSA Safety, Inc.		335		(0.75	)%		122
US Ecology, Inc.		1,094		(0.56	)%		22
FedEx Corp.		174		(0.70	)%		(526	)
Raytheon Technologies Corp.		1,148		(1.33	)%		(728	)
Republic Services, Inc. — Class A		1,161		(1.73	)%		(782	)
United Parcel Service, Inc. — Class B		140		(0.39	)%		(791	)
Boeing Co.		224		(0.73	)%		(1,246	)
TransDigm Group, Inc.		52		(0.46	)%		(2,349	)
Waste Management, Inc.		892		(1.69	)%		(3,070	)
Tetra Tech, Inc.		330		(0.55	)%		(8,069	)
Ingersoll Rand, Inc.		1,169		(0.77	)%		(9,294	)
Casella Waste Systems, Inc. — Class A		1,324		(1.14	)%		(12,473	)
Total Industrial							(16,888	)
Consumer, Non-cyclical
Verisk Analytics, Inc. — Class A		738		(1.75	)%		7,883
Archer-Daniels-Midland Co.		1,406		(1.15	)%		7,211
ManpowerGroup, Inc.		598		(0.96	)%		2,088
CoStar Group, Inc.		760		(0.85	)%		1,751
Cooper Companies, Inc.		69		(0.37	)%		509
McCormick & Company, Inc.		725		(0.87	)%		74
Brink's Co.		451		(0.47	)%		(290	)
Alnylam Pharmaceuticals, Inc.		158		(0.36	)%		(984	)
Guardant Health, Inc.		316		(0.53	)%		(1,175	)
Rollins, Inc.		1,503		(0.70	)%		(1,405	)
TransUnion		729		(1.08	)%		(5,715	)
Avalara, Inc.		127		(0.28	)%		(8,141	)
Cintas Corp.		358		(1.85	)%		(10,663	)
Equifax, Inc.		276		(0.89	)%		(19,831	)
Total Consumer, Non-cyclical							(28,688	)
Technology
KBR, Inc.		1,964		(1.01	)%		3,473
Leidos Holdings, Inc.		570		(0.78	)%		3,003
Blackline, Inc.		165		(0.25	)%		773
Clarivate plc		1,461		(0.54	)%		(904	)
Sailpoint Technologies Holdings, Inc.		370		(0.26	)%		(1,055	)
Twilio, Inc. — Class A		53		(0.28	)%		(1,579	)
Tyler Technologies, Inc.		41		(0.25	)%		(2,533	)
Ceridian HCM Holding, Inc.		391		(0.51	)%		(3,113	)
Coupa Software, Inc.		146		(0.52	)%		(3,271	)
Smartsheet, Inc. — Class A		271		(0.27	)%		(6,510	)
Rapid7, Inc.		403		(0.52	)%		(8,619	)
HubSpot, Inc.		34		(0.27	)%		(10,619	)
Total Technology							(30,954	)
Utilities
Atmos Energy Corp.		1,038		(1.35	)%		5,518
Exelon Corp.		2,164		(1.30	)%		5,103
ONE Gas, Inc.		1,377		(1.38	)%		4,495
Xcel Energy, Inc.		1,281		(1.14	)%		4,362
Black Hills Corp.		667		(0.59	)%		2,492
OGE Energy Corp.		1,578		(0.72	)%		2,316
CenterPoint Energy, Inc.		1,328		(0.44	)%		1,796
Edison International		1,895		(1.48	)%		(70	)
Total Utilities							26,012
Consumer, Cyclical
JetBlue Airways Corp.		3,746		(0.85	)%		6,903
United Airlines Holdings, Inc.		1,466		(1.04	)%		6,443
IAA, Inc.		842		(0.62	)%		4,201
Delta Air Lines, Inc.		2,354		(1.38	)%		1,479
Freshpet, Inc.		326		(0.72	)%		1,407
Marriott International, Inc. — Class A		181		(0.33	)%		1,231
Hilton Worldwide Holdings, Inc.		287		(0.47	)%		902
Alaska Air Group, Inc.		1,245		(1.02	)%		(1,800	)
Southwest Airlines Co.		1,890		(1.36	)%		(6,225	)
Copart, Inc.		635		(1.13	)%		(16,868	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Total Consumer, Cyclical						$	(2,327	)
Communications
Anaplan, Inc.		329		(0.24	)%		1,203
Okta, Inc.		164		(0.54	)%		(68	)
Uber Technologies, Inc.		1,078		(0.73	)%		(376	)
Q2 Holdings, Inc.		566		(0.79	)%		(6,688	)
Zendesk, Inc.		261		(0.51	)%		(10,158	)
Liberty Broadband Corp. — Class C		356		(0.84	)%		(10,790	)
Total Communications							(26,877	)
Basic Materials
Linde plc		89		(0.35	)%		(946	)
Quaker Chemical Corp.		160		(0.51	)%		(7,056	)
Total Basic Materials							(8,002	)
Total MS Equity Short Custom Basket						$	(348,178	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is pledged as equity custom basket swap collateral at June 30, 2021.
²	Rate indicated is the 7-day yield as of June 30, 2021.

GS — Goldman Sachs International

MS — Morgan Stanley Capital Services LLC

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	16,599,430	$	—	$	—	$	16,599,430
Money Market Fund		1,320,336		—		—		1,320,336
Equity Custom Basket Swap Agreements**		—		927,516		—		927,516
Total Assets	$	17,919,766	$	927,516	$	—	$	18,847,282

Investments in Securities (Liabilities)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Equity Custom Basket Swap Agreements**		$	—			$	701,399			$	—			$	701,399

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 75.1%
Financial - 18.1%
Signature Bank		354	$	86,960
Camden Property Trust REIT		599		79,469
Brown & Brown, Inc.		1,437		76,362
Medical Properties Trust, Inc. REIT		3,612		72,601
East West Bancorp, Inc.		871		62,442
Jones Lang LaSalle, Inc.^*		315		61,570
First Horizon Corp.		3,392		58,614
Alleghany Corp.^*		85		56,701
Lamar Advertising Co. — Class A REIT		532		55,551
CyrusOne, Inc. REIT		752		53,783
American Financial Group, Inc.		423		52,757
Omega Healthcare Investors, Inc. REIT		1,445		52,439
STORE Capital Corp. REIT		1,495		51,592
Life Storage, Inc. REIT		472		50,669
National Retail Properties, Inc. REIT		1,078		50,537
Commerce Bancshares, Inc.		647		48,240
Reinsurance Group of America, Inc. — Class A		417		47,538
Rexford Industrial Realty, Inc. REIT		823		46,870
Apartment Income REIT Corp.		962		45,628
RenaissanceRe Holdings Ltd.		305		45,390
Kilroy Realty Corp. REIT		651		45,336
SEI Investments Co.		728		45,114
Old Republic International Corp.		1,741		43,368
First Financial Bankshares, Inc.		873		42,891
Jefferies Financial Group, Inc.		1,229		42,032
First American Financial Corp.		674		42,024
Stifel Financial Corp.		645		41,835
Brixmor Property Group, Inc. REIT		1,824		41,751
SLM Corp.		1,983		41,524
First Industrial Realty Trust, Inc. REIT		793		41,418
Pinnacle Financial Partners, Inc.		467		41,231
Prosperity Bancshares, Inc.		570		40,926
Janus Henderson Group plc		1,048		40,673
EastGroup Properties, Inc. REIT		246		40,455
Synovus Financial Corp.		913		40,062
American Campus Communities, Inc. REIT		847		39,572
Affiliated Managers Group, Inc.		255		39,323
Cullen/Frost Bankers, Inc.		347		38,864
Primerica, Inc.		242		37,060
CoreSite Realty Corp. REIT		264		35,534
Evercore, Inc. — Class A		251		35,333
SL Green Realty Corp. REIT		426		34,080
Douglas Emmett, Inc. REIT		1,013		34,057
Spirit Realty Capital, Inc. REIT		706		33,775
Cousins Properties, Inc. REIT		913		33,580
Valley National Bancorp		2,493		33,481
Interactive Brokers Group, Inc. — Class A		496		32,602
Glacier Bancorp, Inc.		587		32,332
Alliance Data Systems Corp.		305		31,778
New York Community Bancorp, Inc.		2,856		31,473
CIT Group, Inc.		608		31,367
Bank OZK		742		31,283
Essent Group Ltd.		693		31,150
Rayonier, Inc. REIT		853		30,648
United Bankshares, Inc.		824		30,076
Selective Insurance Group, Inc.		369		29,944
Park Hotels & Resorts, Inc. REIT^*		1,452		29,926
Hanover Insurance Group, Inc.		220		29,841
Webster Financial Corp.		555		29,604
PacWest Bancorp		718		29,553
Sterling Bancorp		1,182		29,302
Highwoods Properties, Inc. REIT		639		28,864
MGIC Investment Corp.		2,084		28,342
Kemper Corp.		373		27,565
Wintrust Financial Corp.		350		26,471
Healthcare Realty Trust, Inc. REIT		870		26,274
Hudson Pacific Properties, Inc. REIT		927		25,789
RLI Corp.		244		25,520
Umpqua Holdings Corp.		1,354		24,981
UMB Financial Corp.		267		24,847
Physicians Realty Trust REIT		1,323		24,436
FNB Corp.		1,962		24,191
EPR Properties REIT^*		459		24,180
Sabra Health Care REIT, Inc.		1,325		24,115
Brighthouse Financial, Inc.^*		526		23,954
Hancock Whitney Corp.		533		23,687
Weingarten Realty Investors REIT		737		23,635
Home BancShares, Inc.		931		22,977
PotlatchDeltic Corp. REIT		412		21,898
Kinsale Capital Group, Inc.		131		21,585
National Storage Affiliates Trust REIT		423		21,387
JBG SMITH Properties REIT		678		21,364
Navient Corp.		1,102		21,302
Bank of Hawaii Corp.		248		20,887
Texas Capital Bancshares, Inc.^*		311		19,745
Federated Hermes, Inc. — Class B		574		19,464
Corporate Office Properties Trust REIT		690		19,313
Associated Banc-Corp.		938		19,210
CNO Financial Group, Inc.		808		19,085
Pebblebrook Hotel Trust REIT		807		19,005
Macerich Co. REIT		1,027		18,743
PS Business Parks, Inc. REIT		123		18,214
Cathay General Bancorp		460		18,106
BancorpSouth Bank		593		16,800
Fulton Financial Corp.		999		15,764
International Bancshares Corp.		342		14,685
LendingTree, Inc.^*		68		14,408
Washington Federal, Inc.		445		14,142
Urban Edge Properties REIT		676		12,912
Trustmark Corp.		389		11,981

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 75.1% (continued)
Financial - 18.1% (continued)
Mercury General Corp.		163	$	10,587
Total Financial				3,482,306
Industrial - 15.0%
Cognex Corp.		1,085		91,194
XPO Logistics, Inc.^*		624		87,291
Graco, Inc.		1,041		78,804
Lennox International, Inc.		211		74,019
Nordson Corp.		332		72,877
Trex Company, Inc.^*		708		72,365
Toro Co.		657		72,191
Axon Enterprise, Inc.^*		397		70,190
Owens Corning		641		62,754
Hubbell, Inc.		334		62,405
Carlisle Companies, Inc.		321		61,433
Middleby Corp.^*		342		59,255
Universal Display Corp.		263		58,473
AECOM^*		898		56,861
AptarGroup, Inc.		403		56,759
Builders FirstSource, Inc.^*		1,271		54,221
Oshkosh Corp.		421		52,473
Arrow Electronics, Inc.^*		455		51,793
AGCO Corp.		379		49,414
Donaldson Company, Inc.		774		49,172
ITT, Inc.		529		48,451
Lincoln Electric Holdings, Inc.		366		48,206
Jabil, Inc.		822		47,775
II-VI, Inc.^*		644		46,748
Woodward, Inc.		360		44,237
Sonoco Products Co.		618		41,344
EMCOR Group, Inc.		335		41,269
Acuity Brands, Inc.		219		40,960
Tetra Tech, Inc.		333		40,640
Stericycle, Inc.^*		564		40,354
TopBuild Corp.^*		203		40,149
Coherent, Inc.^*		150		39,651
MDU Resources Group, Inc.		1,236		38,736
Littelfuse, Inc.		150		38,218
Louisiana-Pacific Corp.		628		37,862
Landstar System, Inc.		236		37,293
Eagle Materials, Inc.		260		36,949
MSA Safety, Inc.		223		36,924
MasTec, Inc.^*		347		36,817
Knight-Swift Transportation Holdings, Inc.		752		34,186
National Instruments Corp.		808		34,162
Timken Co.		420		33,848
Vontier Corp.		1,037		33,785
Regal Beloit Corp.		249		33,244
Colfax Corp.^*		724		33,166
Flowserve Corp.		800		32,256
nVent Electric plc		1,030		32,177
Hexcel Corp.^*		514		32,073
SYNNEX Corp.		255		31,049
Valmont Industries, Inc.		130		30,686
Curtiss-Wright Corp.		251		29,809
Simpson Manufacturing Company, Inc.		267		29,487
Clean Harbors, Inc.^*		308		28,687
Crane Co.		305		28,173
EnerSys		263		25,703
Ryder System, Inc.		331		24,603
Avnet, Inc.		611		24,489
Mercury Systems, Inc.^*		345		22,867
Kirby Corp.^*		369		22,376
Terex Corp.		429		20,429
Silgan Holdings, Inc.		481		19,961
GATX Corp.		217		19,198
Kennametal, Inc.		513		18,427
Vishay Intertechnology, Inc.		815		18,378
Werner Enterprises, Inc.		350		15,582
Energizer Holdings, Inc.		357		15,344
Dycom Industries, Inc.^*		188		14,012
Belden, Inc.		275		13,907
Fluor Corp.^*		773		13,682
Trinity Industries, Inc.		496		13,337
Worthington Industries, Inc.		214		13,093
Greif, Inc. — Class A		162		9,809
Total Industrial				2,878,512
Consumer, Non-cyclical - 13.1%
Bio-Techne Corp.		239		107,612
Molina Healthcare, Inc.^*		359		90,849
Masimo Corp.^*		311		75,402
Darling Ingredients, Inc.^*		1,002		67,635
PRA Health Sciences, Inc.^*		398		65,753
Jazz Pharmaceuticals plc^*		369		65,549
Repligen Corp.^*		313		62,481
Boston Beer Company, Inc. — Class A^*		57		58,186
Penumbra, Inc.^*		208		57,004
Neurocrine Biosciences, Inc.^*		580		56,446
Syneos Health, Inc.^*		622		55,663
Service Corporation International		1,033		55,358
WEX, Inc.^*		275		53,323
Arrowhead Pharmaceuticals, Inc.^*		639		52,922
United Therapeutics Corp.^*		274		49,158
Amedisys, Inc.^*		200		48,986
Encompass Health Corp.		611		47,676
Chemed Corp.		98		46,501
Hill-Rom Holdings, Inc.		408		46,345
Tenet Healthcare Corp.^*		656		43,945
Paylocity Holding Corp.^*		230		43,884
STAAR Surgical Co.^*		287		43,768
Envista Holdings Corp.^*		987		42,648
HealthEquity, Inc.^*		512		41,206
ManpowerGroup, Inc.		335		39,835
Post Holdings, Inc.^*		363		39,375
LHC Group, Inc.^*		194		38,851
Halozyme Therapeutics, Inc.^*		822		37,327
Ingredion, Inc.		411		37,196
Globus Medical, Inc. — Class A^*		477		36,982
Exelixis, Inc.^*		1,924		35,055
Acadia Healthcare Company, Inc.^*		551		34,575
Helen of Troy Ltd.^*		150		34,218
ASGN, Inc.^*		327		31,696
Quidel Corp.^*		238		30,493
Neogen Corp.^*		660		30,386
Medpace Holdings, Inc.^*		170		30,027
Integra LifeSciences Holdings Corp.^*		436		29,753

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 75.1% (continued)
Consumer, Non-cyclical - 13.1% (continued)
Flowers Foods, Inc.		1,209	$	29,258
FTI Consulting, Inc.^*		210		28,688
H&R Block, Inc.		1,114		26,157
Grand Canyon Education, Inc.^*		284		25,551
LivaNova plc^*		300		25,233
ICU Medical, Inc.^*		121		24,902
Avis Budget Group, Inc.^*		317		24,691
Sabre Corp.^*		1,962		24,486
Brink's Co.		306		23,513
Lancaster Colony Corp.		120		23,221
Sanderson Farms, Inc.		122		22,932
NuVasive, Inc.^*		317		21,486
Haemonetics Corp.^*		313		20,858
Hain Celestial Group, Inc.^*		502		20,140
Insperity, Inc.		220		19,881
PROG Holdings, Inc.		413		19,878
LiveRamp Holdings, Inc.^*		420		19,677
Nektar Therapeutics^*		1,120		19,219
R1 RCM, Inc.^*		848		18,860
Grocery Outlet Holding Corp.^*		535		18,543
Sprouts Farmers Market, Inc.^*		725		18,016
Emergent BioSolutions, Inc.^*		280		17,637
Coty, Inc. — Class A^*		1,741		16,261
Patterson Companies, Inc.		534		16,228
John Wiley & Sons, Inc. — Class A		267		16,068
Graham Holdings Co. — Class B		25		15,847
TreeHouse Foods, Inc.^*		345		15,360
Progyny, Inc.^*		228		13,452
Ligand Pharmaceuticals, Inc. — Class B^*		102		13,382
Strategic Education, Inc.		151		11,485
Adtalem Global Education, Inc.^*		304		10,835
WW International, Inc.^*		294		10,625
Pilgrim's Pride Corp.^*		299		6,632
Tootsie Roll Industries, Inc.		108		3,662
Total Consumer, Non-cyclical				2,506,733
Consumer, Cyclical - 12.3%
Williams-Sonoma, Inc.		468		74,716
RH^*		103		69,937
Five Below, Inc.^*		344		66,485
Deckers Outdoor Corp.^*		171		65,676
Lithia Motors, Inc. — Class A		182		62,543
Lear Corp.		336		58,894
Watsco, Inc.		202		57,901
Capri Holdings Ltd.^*		929		53,129
Kohl's Corp.		960		52,906
Gentex Corp.		1,483		49,073
Polaris, Inc.		354		48,484
Scotts Miracle-Gro Co. — Class A		249		47,788
Brunswick Corp.		478		47,619
Crocs, Inc.^*		400		46,608
IAA, Inc.^*		828		45,159
Tempur Sealy International, Inc.		1,125		44,089
Casey's General Stores, Inc.		226		43,989
Harley-Davidson, Inc.		943		43,208
Mattel, Inc.^*		2,142		43,054
YETI Holdings, Inc.^*		461		42,329
Churchill Downs, Inc.		213		42,229
Marriott Vacations Worldwide Corp.^*		261		41,577
Wyndham Hotels & Resorts, Inc.		574		41,495
Skechers USA, Inc. — Class A^*		824		41,060
Dick's Sporting Goods, Inc.		402		40,276
Fox Factory Holding Corp.^*		258		40,160
BJ's Wholesale Club Holdings, Inc.^*		842		40,062
Toll Brothers, Inc.		690		39,889
Foot Locker, Inc.		634		39,074
Texas Roadhouse, Inc. — Class A		402		38,672
Thor Industries, Inc.		340		38,420
American Eagle Outfitters, Inc.		927		34,790
JetBlue Airways Corp.^*		1,945		32,637
Travel + Leisure Co.		529		31,449
AutoNation, Inc.^*		331		31,382
Boyd Gaming Corp.^*		496		30,499
Goodyear Tire & Rubber Co.^*		1,714		29,395
Ollie's Bargain Outlet Holdings, Inc.^*		349		29,361
Wingstop, Inc.		182		28,689
Carter's, Inc.		270		27,856
Avient Corp.		561		27,579
Scientific Games Corp. — Class A^*		348		26,949
Adient plc^*		579		26,171
MSC Industrial Direct Company, Inc. — Class A		289		25,932
Wendy's Co.		1,087		25,458
Univar Solutions, Inc.^*		1,042		25,404
Nordstrom, Inc.^*		669		24,465
Callaway Golf Co.^*		714		24,083
KB Home		545		22,192
Cracker Barrel Old Country Store, Inc.		146		21,675
Papa John's International, Inc.		203		21,201
Dana, Inc.		891		21,170
Choice Hotels International, Inc.		177		21,038
Taylor Morrison Home Corp. — Class A^*		792		20,925
Visteon Corp.^*		172		20,802
Murphy USA, Inc.		153		20,406
Six Flags Entertainment Corp.^*		467		20,212
FirstCash, Inc.		252		19,263
Columbia Sportswear Co.		188		18,492
Urban Outfitters, Inc.^*		422		17,395
Nu Skin Enterprises, Inc. — Class A		306		17,335
Herman Miller, Inc.		362		17,064
Tri Pointe Homes, Inc.^*		727		15,580
Jack in the Box, Inc.		137		15,267
Cinemark Holdings, Inc.^*		668		14,663
Healthcare Services Group, Inc.		459		14,491
KAR Auction Services, Inc.^*		766		13,443
World Fuel Services Corp.		388		12,311
Total Consumer, Cyclical				2,353,525
Technology - 6.6%
Fair Isaac Corp.^*		176		88,472
Ceridian HCM Holding, Inc.^*		806		77,312
Cree, Inc.^*		709		69,432
MKS Instruments, Inc.		340		60,503

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 75.1% (continued)
Technology - 6.6% (continued)
Aspen Technology, Inc.^*		418	$	57,492
Manhattan Associates, Inc.^*		391		56,632
Genpact Ltd.		1,070		48,610
Lattice Semiconductor Corp.^*		838		47,079
Brooks Automation, Inc.		456		43,448
Silicon Laboratories, Inc.^*		275		42,144
Concentrix Corp.^*		255		41,004
Lumentum Holdings, Inc.^*		466		38,226
CDK Global, Inc.		748		37,168
CACI International, Inc. — Class A^*		144		36,737
NCR Corp.^*		804		36,670
J2 Global, Inc.^*		261		35,901
Teradata Corp.^*		673		33,630
Synaptics, Inc.^*		216		33,605
MAXIMUS, Inc.		378		33,253
KBR, Inc.		868		33,114
Science Applications International Corp.		356		31,232
Cirrus Logic, Inc.^*		353		30,047
Sailpoint Technologies Holdings, Inc.^*		567		28,957
Semtech Corp.^*		399		27,451
CMC Materials, Inc.		179		26,983
ACI Worldwide, Inc.^*		725		26,926
Envestnet, Inc.^*		334		25,337
Xerox Holdings Corp.		990		23,255
Blackbaud, Inc.^*		300		22,971
CommVault Systems, Inc.^*		283		22,122
Qualys, Inc.^*		207		20,843
Amkor Technology, Inc.		660		15,622
NetScout Systems, Inc.^*		453		12,929
Total Technology				1,265,107
Basic Materials - 3.2%
Steel Dynamics, Inc.		1,232		73,427
RPM International, Inc.		795		70,501
Cleveland-Cliffs, Inc.^*,1		2,822		60,842
Reliance Steel & Aluminum Co.		391		59,002
Royal Gold, Inc.		403		45,982
Olin Corp.		879		40,662
United States Steel Corp.		1,656		39,744
Valvoline, Inc.		1,112		36,095
Chemours Co.		1,017		35,392
Ashland Global Holdings, Inc.		336		29,400
Commercial Metals Co.		740		22,733
Sensient Technologies Corp.		260		22,506
Ingevity Corp.^*		246		20,014
Cabot Corp.		348		19,812
Minerals Technologies, Inc.		207		16,285
NewMarket Corp.		45		14,489
Compass Minerals International, Inc.		209		12,386
Total Basic Materials				619,272
Energy - 2.5%
SolarEdge Technologies, Inc.^*		319		88,162
Targa Resources Corp.		1,404		62,408
Sunrun, Inc.^*		989		55,167
First Solar, Inc.^*		522		47,246
Cimarex Energy Co.		632		45,788
Equities Corp.^*		1,714		38,154
HollyFrontier Corp.		917		30,169
ChampionX Corp.^*		1,150		29,497
Equitrans Midstream Corp.		2,497		21,249
Murphy Oil Corp.		891		20,743
CNX Resources Corp.^*		1,353		18,482
Antero Midstream Corp.		1,759		18,276
Total Energy				475,341
Utilities - 2.3%
Essential Utilities, Inc.		1,373		62,746
UGI Corp.		1,281		59,323
OGE Energy Corp.		1,229		41,356
IDACORP, Inc.		309		30,127
National Fuel Gas Co.		560		29,260
Hawaiian Electric Industries, Inc.		671		28,370
PNM Resources, Inc.		527		25,702
Black Hills Corp.		386		25,333
ONE Gas, Inc.		327		24,237
Southwest Gas Holdings, Inc.		356		23,564
New Jersey Resources Corp.		592		23,425
Spire, Inc.		317		22,910
ALLETE, Inc.		321		22,464
NorthWestern Corp.		311		18,728
Total Utilities				437,545
Communications - 2.0%
FactSet Research Systems, Inc.		232		77,861
Cable One, Inc.		33		63,123
Ciena Corp.^*		952		54,159
New York Times Co. — Class A		892		38,847
Iridium Communications, Inc.^*		721		28,833
TEGNA, Inc.		1,356		25,439
TripAdvisor, Inc.^*		602		24,260
Viasat, Inc.^*		418		20,833
Yelp, Inc. — Class A^*		430		17,183
World Wrestling Entertainment, Inc. — Class A		278		16,093
Telephone & Data Systems, Inc.		612		13,868
Total Communications				380,499
Total Common Stocks
(Cost $11,128,659)				14,398,840

MUTUAL FUNDS^† - 14.4%
Guggenheim Ultra Short Duration Fund — Institutional Class²	150,882	1,504,298
Guggenheim Strategy Fund II²	50,475	1,261,383
Total Mutual Funds
(Cost $2,754,246)		2,765,681

	Face Amount
U.S. TREASURY BILLS^†† - 5.9%
U.S. Treasury Bills
0.04% due 12/09/21^3,4	$	1,100,000	1,099,742

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

	Face Amount		Value
U.S. TREASURY BILLS^†† - 5.9% (continued)
0.01% due 08/03/21⁴	$	41,000	$	40,998
Total U.S. Treasury Bills
(Cost $1,140,813)				1,140,740

REPURCHASE AGREEMENTS^††,5 - 5.7%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21³	610,337		610,337
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21³	240,289		240,289
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21³	235,577		235,577
Total Repurchase Agreements
(Cost $1,086,203)		$	1,086,203

	Shares
SECURITIES LENDING COLLATERAL^†,6 - 0.0%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁷		129		129
Total Securities Lending Collateral
(Cost $129)				129
Total Investments - 101.1%
(Cost $16,110,050)			$	19,391,593
Other Assets & Liabilities, net - (1.1)%				(205,743	)
Total Net Assets - 100.0%			$	19,185,850

Total Return Swap Agreements
Counterparty	Index	Financing Rate Pay (Receive)	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation (Depreciation)
OTC Equity Index Swap Agreements^††
Barclays Bank plc	S&P MidCap 400 Index	0.44% (1 Week USD LIBOR + 0.35%)	At Maturity	07/14/21		3,943	$	10,630,028	$	51,492
BNP Paribas	S&P MidCap 400 Index	0.54% (1 Month USD LIBOR + 0.45%)	At Maturity	07/15/21		417		1,124,833		(5,252	)
Goldman Sachs International	S&P MidCap 400 Index	0.49% (1 Week USD LIBOR + 0.40%)	At Maturity	07/15/21		967		2,607,854		(7,430	)
							$	14,362,715	$	38,810

^*	Non-income producing security.
^†	Value determined based on Level 1 inputs — See Note 3.
^††	Value determined based on Level 2 inputs — See Note 3.
¹	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
²	Affiliated issuer.
³	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
⁴	Rate indicated is the effective yield at the time of purchase.
⁵	Repurchase Agreements — See Note 4.
⁶	Securities lending collateral — See Note 5.
⁷	Rate indicated is the 7-day yield as of June 30, 2021.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	14,398,840	$	—	$	—	$	14,398,840
Mutual Funds		2,765,681		—		—		2,765,681
U.S. Treasury Bills		—		1,140,740		—		1,140,740
Repurchase Agreements		—		1,086,203		—		1,086,203
Securities Lending Collateral		129		—		—		129
Equity Index Swap Agreements**		—		51,492		—		51,492
Total Assets	$	17,164,650	$	2,278,435	$	—	$	19,443,085

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2021

Investments in Securities (Liabilities)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Equity Index Swap Agreements**		$	—			$	12,682			$	—			$	12,682

^**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions			Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,260,878	$	–	$	–		$	–	$	505	$	1,261,383		50,475	$	4,481
Guggenheim Ultra Short Duration Fund — Institutional Class		2,351,937		–		(850,000	)		–		2,361		1,504,298		150,882		4,338
	$	3,612,815	$	–	$	(850,000	)	$	–	$	2,866	$	2,765,681			$	8,819

Monthly Rebalance NASDAQ-100^® 2x Strategy Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 75.8%
Technology - 34.0%
Apple, Inc.		264,884	$	36,278,512
Microsoft Corp.		119,549		32,385,824
NVIDIA Corp.		15,048		12,039,905
Adobe, Inc.^*		11,545		6,761,214
Intel Corp.		97,535		5,475,615
Broadcom, Inc.		9,862		4,702,596
Texas Instruments, Inc.		22,307		4,289,636
QUALCOMM, Inc.		27,246		3,894,271
Intuit, Inc.		6,600		3,235,122
Applied Materials, Inc.		22,077		3,143,765
Advanced Micro Devices, Inc.^*		29,348		2,756,658
Micron Technology, Inc.^*		27,087		2,301,853
Lam Research Corp.		3,445		2,241,662
Zoom Video Communications, Inc. — Class A^*		5,707		2,208,780
Activision Blizzard, Inc.		18,768		1,791,218
Fiserv, Inc.^*		16,105		1,721,463
Autodesk, Inc.^*		5,315		1,551,449
Analog Devices, Inc.		8,909		1,533,773
NXP Semiconductor N.V.		6,661		1,370,301
ASML Holding N.V. — Class G		1,919		1,325,722
DocuSign, Inc.^*		4,699		1,313,699
KLA Corp.		3,702		1,200,225
Marvell Technology, Inc.		19,789		1,154,292
Workday, Inc. — Class A^*		4,565		1,089,848
Synopsys, Inc.^*		3,685		1,016,286
Electronic Arts, Inc.		6,913		994,297
Microchip Technology, Inc.		6,607		989,332
Paychex, Inc.		8,704		933,939
Cadence Design Systems, Inc.^*		6,721		919,567
Cognizant Technology Solutions Corp. — Class A		12,739		882,303
Xilinx, Inc.		5,938		858,872
Atlassian Corporation plc — Class A^*		3,268		839,419
NetEase, Inc. ADR		7,278		838,790
Skyworks Solutions, Inc.		3,988		764,699
ANSYS, Inc.^*		2,105		730,561
Maxim Integrated Products, Inc.		6,482		682,944
Splunk, Inc.^*		3,959		572,392
Cerner Corp.		7,278		568,849
Check Point Software Technologies Ltd.^*		3,268		379,513
Total Technology				147,739,166
Communications - 23.9%
Amazon.com, Inc.^*		8,005		27,538,481
Facebook, Inc. — Class A^*		38,032		13,224,107
Alphabet, Inc. — Class C^*		5,136		12,872,460
Alphabet, Inc. — Class A^*		4,774		11,657,105
Comcast Corp. — Class A		110,744		6,314,623
Netflix, Inc.^*		10,710		5,657,129
Cisco Systems, Inc.		101,792		5,394,976
T-Mobile US, Inc.^*		30,117		4,361,845
Charter Communications, Inc. — Class A^*		4,557		3,287,648
Booking Holdings, Inc.^*		992		2,170,585
MercadoLibre, Inc.^*		1,204		1,875,579
JD.com, Inc. ADR^*		19,465		1,553,502
Baidu, Inc. ADR^*		6,258		1,276,006
Pinduoduo, Inc. ADR^*		9,139		1,160,836
eBay, Inc.		16,455		1,155,306
Match Group, Inc.^*		6,528		1,052,640
Okta, Inc.^*		3,021		739,178
Sirius XM Holdings, Inc.¹		98,810		646,217
VeriSign, Inc.^*		2,720		619,317
CDW Corp.		3,387		591,540
Trip.com Group Ltd. ADR^*		12,725		451,228
Fox Corp. — Class A		7,897		293,216
Fox Corp. — Class B		6,118		215,353
Total Communications				104,108,877
Consumer, Non-cyclical - 10.1%
PayPal Holdings, Inc.^*		28,375		8,270,745
PepsiCo, Inc.		33,372		4,944,729
Amgen, Inc.		13,878		3,382,762
Intuitive Surgical, Inc.^*		2,860		2,630,171
Moderna, Inc.^*		9,699		2,279,071
Mondelez International, Inc. — Class A		33,930		2,118,589
Gilead Sciences, Inc.		30,294		2,086,045
Automatic Data Processing, Inc.		10,278		2,041,416
Illumina, Inc.^*		3,527		1,669,012
Regeneron Pharmaceuticals, Inc.^*		2,529		1,412,548
IDEXX Laboratories, Inc.^*		2,060		1,300,993
Vertex Pharmaceuticals, Inc.^*		6,253		1,260,792
Biogen, Inc.^*		3,637		1,259,384
Keurig Dr Pepper, Inc.		34,236		1,206,477
Kraft Heinz Co.		29,544		1,204,805
Align Technology, Inc.^*		1,911		1,167,621
Monster Beverage Corp.^*		12,767		1,166,265
DexCom, Inc.^*		2,336		997,472
Alexion Pharmaceuticals, Inc.^*		5,339		980,828
Cintas Corp.		2,537		969,134
Seagen, Inc.^*		4,383		691,988
Verisk Analytics, Inc. — Class A		3,915		684,029
Incyte Corp.^*		5,312		446,898
Total Consumer, Non-cyclical				44,171,774
Consumer, Cyclical - 6.7%
Tesla, Inc.^*		18,923		12,861,963
Costco Wholesale Corp.		10,689		4,229,317
Starbucks Corp.		28,461		3,182,224
Lululemon Athletica, Inc.^*		3,022		1,102,939
Walgreens Boots Alliance, Inc.		20,879		1,098,444
Marriott International, Inc. — Class A^*		7,866		1,073,866
Ross Stores, Inc.		8,614		1,068,136
O'Reilly Automotive, Inc.^*		1,685		954,064
Peloton Interactive, Inc. — Class A^*		6,490		804,890
Copart, Inc.^*		5,714		753,277
PACCAR, Inc.		8,385		748,361
Fastenal Co.		13,876		721,552
Dollar Tree, Inc.^*		5,603		557,499
Total Consumer, Cyclical				29,156,532
Utilities - 0.7%
Exelon Corp.		23,603		1,045,849
American Electric Power Company, Inc.		12,071		1,021,086
Xcel Energy, Inc.		13,000		856,440
Total Utilities				2,923,375

Monthly Rebalance NASDAQ-100^® 2x Strategy Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 75.8% (continued)
Industrial - 0.4%
CSX Corp.		54,882	$	1,760,614
Total Common Stocks
(Cost $307,121,229)				329,860,338
MUTUAL FUNDS^† - 7.3%
Guggenheim Ultra Short Duration Fund — Institutional Class²		2,183,560		21,770,092
Guggenheim Strategy Fund II²		403,950		10,094,716
Total Mutual Funds
(Cost $31,544,280)				31,864,808

	Face Amount
U.S. TREASURY BILLS^†† - 8.2%
U.S. Treasury Bills
0.03% due 12/09/21³	$	18,175,000	18,170,732
0.04% due 12/09/21^3,4		10,525,000	10,522,529
0.03% due 08/03/21³		4,679,000	4,678,801
0.01% due 08/03/21^3,5		2,027,000	2,026,914
Total U.S. Treasury Bills
(Cost $35,401,428)			35,398,976

REPURCHASE AGREEMENTS^††,6 - 4.1%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21⁴	10,141,115	10,141,115
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21⁴	3,992,548	3,992,548
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21⁴	3,914,262	3,914,262
Total Repurchase Agreements
(Cost $18,047,925)		18,047,925

	Shares
SECURITIES LENDING COLLATERAL^†,7 - 0.1%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁸		494,917		494,917
Total Securities Lending Collateral
(Cost $494,917)				494,917
Total Investments - 95.5%
(Cost $392,609,779)			$	415,666,964
Other Assets & Liabilities, net - 4.5%				19,386,036
Total Net Assets - 100.0%			$	435,053,000

Futures Contracts

Description

Number of Contracts

Expiration Date

Notional Amount

Value and Unrealized
Appreciation^**

Equity Futures Contracts Purchased^†

NASDAQ-100 Index Mini Futures Contracts

459

Sep 2021

133,509,330

3,105,583

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements^††

Barclays Bank plc

NASDAQ-100 Index

0.59% (1 Week USD LIBOR + 0.50%)

At Maturity

07/14/21

22,297

324,530,359

15,074,119

Goldman Sachs International

NASDAQ-100 Index

0.64% (1 Week USD LIBOR + 0.55%)

At Maturity

07/15/21

5,418

78,855,464

3,245,356

BNP Paribas

NASDAQ-100 Index

0.74% (1 Month USD LIBOR + 0.65%)

At Maturity

07/15/21

233

3,396,178

180,313

406,782,001

18,499,788

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Affiliated issuer.
3	Rate indicated is the effective yield at the time of purchase.
4	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
5	All or a portion of this security is pledged as futures collateral at June 30, 2021.
6	Repurchase Agreements — See Note 4.
7	Securities lending collateral — See Note 5.
8	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

Monthly Rebalance NASDAQ-100^® 2x Strategy Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	329,860,338	$	—	$	—	$	329,860,338
Mutual Funds		31,864,808		—		—		31,864,808
U.S. Treasury Bills		—		35,398,976		—		35,398,976
Repurchase Agreements		—		18,047,925		—		18,047,925
Securities Lending Collateral		494,917		—		—		494,917
Equity Futures Contracts**		3,105,583		—		—		3,105,583
Equity Index Swap Agreements**		—		18,499,788		—		18,499,788
Total Assets	$	365,325,646	$	71,946,689	$	—	$	437,272,335

This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:
Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	10,090,677	$	–	$	–	$	–	$	4,039	$	10,094,716		403,950	$	35,859
Guggenheim Ultra Short Duration Fund — Institutional Class		21,748,256		–		–		–		21,836		21,770,092		2,183,560		50,575
	$	31,838,933	$	–	$	–	$	–	$	25,875	$	31,864,808			$	86,434

NASDAQ-100^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 94.9%
Technology - 42.5%
Apple, Inc.		1,339,347	$	183,436,965
Microsoft Corp.		604,484		163,754,716
NVIDIA Corp.		76,089		60,878,809
Adobe, Inc.^*		58,380		34,189,663
Intel Corp.		493,174		27,686,788
Broadcom, Inc.		49,867		23,778,580
Texas Instruments, Inc.		112,793		21,690,094
QUALCOMM, Inc.		137,766		19,690,895
Intuit, Inc.		33,374		16,358,934
Applied Materials, Inc.		111,627		15,895,685
Advanced Micro Devices, Inc.^*		148,394		13,938,649
Micron Technology, Inc.^*		136,962		11,639,031
Lam Research Corp.		17,419		11,334,543
Zoom Video Communications, Inc. — Class A^*		28,857		11,168,525
Activision Blizzard, Inc.		94,899		9,057,160
Fiserv, Inc.^*		81,435		8,704,587
Autodesk, Inc.^*		26,877		7,845,396
Analog Devices, Inc.		45,046		7,755,119
NXP Semiconductor N.V.		33,678		6,928,238
ASML Holding N.V. — Class G		9,704		6,703,911
DocuSign, Inc.^*		23,762		6,643,142
KLA Corp.		18,721		6,069,536
Marvell Technology, Inc.		100,061		5,836,558
Workday, Inc. — Class A^*		23,083		5,510,835
Synopsys, Inc.^*		18,634		5,139,071
Electronic Arts, Inc.		34,953		5,027,290
Microchip Technology, Inc.		33,407		5,002,364
Paychex, Inc.		44,012		4,722,488
Cadence Design Systems, Inc.^*		33,985		4,649,828
Cognizant Technology Solutions Corp. — Class A		64,414		4,461,314
Xilinx, Inc.		30,025		4,342,816
Atlassian Corporation plc — Class A^*		16,523		4,244,098
NetEase, Inc. ADR		36,799		4,241,085
Skyworks Solutions, Inc.		20,163		3,866,255
ANSYS, Inc.^*		10,644		3,694,107
Maxim Integrated Products, Inc.		32,776		3,453,279
Splunk, Inc.^*		20,018		2,894,202
Cerner Corp.		36,801		2,876,366
Check Point Software Technologies Ltd.^*		16,523		1,918,816
Total Technology				747,029,738
Communications - 29.9%
Amazon.com, Inc.^*		40,477		139,247,356
Facebook, Inc. — Class A^*		192,307		66,867,067
Alphabet, Inc. — Class C^*		25,970		65,089,131
Alphabet, Inc. — Class A^*		24,138		58,939,927
Comcast Corp. — Class A		559,961		31,928,976
Netflix, Inc.^*		54,154		28,604,684
Cisco Systems, Inc.		514,694		27,278,782
T-Mobile US, Inc.^*		152,283		22,055,147
Charter Communications, Inc. — Class A^*		23,042		16,623,651
Booking Holdings, Inc.^*		5,014		10,971,083
MercadoLibre, Inc.^*		6,089		9,485,383
JD.com, Inc. ADR^*		98,421		7,854,980
Baidu, Inc. ADR^*		31,645		6,452,416
Pinduoduo, Inc. ADR^*		46,208		5,869,340
eBay, Inc.		83,204		5,841,753
Match Group, Inc.^*		33,009		5,322,701
Okta, Inc.^*		15,273		3,736,998
Sirius XM Holdings, Inc.¹		499,617		3,267,495
VeriSign, Inc.^*		13,754		3,131,648
CDW Corp.		17,123		2,990,532
Trip.com Group Ltd. ADR^*		64,344		2,281,638
Fox Corp. — Class A		39,930		1,482,601
Fox Corp. — Class B		30,933		1,088,842
Total Communications				526,412,131
Consumer, Non-cyclical - 12.7%
PayPal Holdings, Inc.^*		143,473		41,819,510
PepsiCo, Inc.		168,743		25,002,651
Amgen, Inc.		70,172		17,104,425
Intuitive Surgical, Inc.^*		14,462		13,299,834
Moderna, Inc.^*		49,040		11,523,419
Mondelez International, Inc. — Class A		171,562		10,712,331
Gilead Sciences, Inc.		153,177		10,547,768
Automatic Data Processing, Inc.		51,970		10,322,281
Illumina, Inc.^*		17,831		8,437,808
Regeneron Pharmaceuticals, Inc.^*		12,786		7,141,492
IDEXX Laboratories, Inc.^*		10,415		6,577,593
Vertex Pharmaceuticals, Inc.^*		31,616		6,374,734
Biogen, Inc.^*		18,388		6,367,213
Keurig Dr Pepper, Inc.		173,109		6,100,361
Kraft Heinz Co.		149,387		6,092,002
Align Technology, Inc.^*		9,665		5,905,315
Monster Beverage Corp.^*		64,555		5,897,099
DexCom, Inc.^*		11,811		5,043,297
Alexion Pharmaceuticals, Inc.^*		26,994		4,959,068
Cintas Corp.		12,830		4,901,060
Seagen, Inc.^*		22,164		3,499,252
Verisk Analytics, Inc. — Class A		19,797		3,458,932
Incyte Corp.^*		26,860		2,259,732
Total Consumer, Non-cyclical				223,347,177
Consumer, Cyclical - 8.4%
Tesla, Inc.^*		95,681		65,034,375
Costco Wholesale Corp.		54,048		21,385,172
Starbucks Corp.		143,909		16,090,465
Lululemon Athletica, Inc.^*		15,282		5,577,472
Walgreens Boots Alliance, Inc.		105,571		5,554,090
Marriott International, Inc. — Class A^*		39,771		5,429,537
Ross Stores, Inc.		43,554		5,400,696
O'Reilly Automotive, Inc.^*		8,520		4,824,109
Peloton Interactive, Inc. — Class A^*		32,823		4,070,709
Copart, Inc.^*		28,894		3,809,096
PACCAR, Inc.		42,399		3,784,111
Fastenal Co.		70,161		3,648,372
Dollar Tree, Inc.^*		28,329		2,818,736
Total Consumer, Cyclical				147,426,940
Utilities - 0.9%
Exelon Corp.		119,345		5,288,177
American Electric Power Company, Inc.		61,036		5,163,035
Xcel Energy, Inc.		65,733		4,330,490
Total Utilities				14,781,702

NASDAQ-100^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 94.9% (continued)
Industrial - 0.5%
CSX Corp.		277,512	$	8,902,585
Total Common Stocks
(Cost $460,761,059)				1,667,900,273

MUTUAL FUNDS^† - 2.9%
Guggenheim Ultra Short Duration Fund — Institutional Class²	2,763,781	27,554,900
Guggenheim Strategy Fund II²	575,584	14,383,856
Guggenheim Strategy Fund III²	370,504	9,321,875
Total Mutual Funds
(Cost $51,178,710)		51,260,631

	Face Amount
FEDERAL AGENCY NOTES^†† - 0.4%
Federal Farm Credit Bank
0.40% (U.S. Prime Rate - 2.85%, Rate Floor: 0.00%) due 08/30/22³	$	3,000,000	3,011,198
0.45% (U.S. Prime Rate - 2.80%, Rate Floor: 0.00%) due 11/23/21³		1,400,000	1,402,235
Fannie Mae
0.27% (U.S. Secured Overnight Financing Rate + 0.22%, Rate Floor: 0.00%) due 03/16/22³		2,000,000	2,002,885
Total Federal Agency Notes
(Cost $6,399,086)			6,416,318

U.S. TREASURY BILLS^†† - 0.3%
U.S. Treasury Bills
0.01% due 08/03/21^4,5	$	3,779,000	$	3,778,839
0.04% due 12/09/21^5,6		200,000		199,953
Total U.S. Treasury Bills
(Cost $3,978,931)				3,978,792

REPURCHASE AGREEMENTS^††,7 - 0.8%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21⁶	8,392,410	8,392,410
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21⁶	3,304,084	3,304,084
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21⁶	3,239,298	3,239,298
Total Repurchase Agreements
(Cost $14,935,792)		14,935,792

	Shares
SECURITIES LENDING COLLATERAL^†,8 - 0.1%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁹		2,529,306		2,529,306
Total Securities Lending Collateral
(Cost $2,529,306)				2,529,306
Total Investments - 99.4%
(Cost $539,782,884)			$	1,747,021,112
Other Assets & Liabilities, net - 0.6%				11,398,574
Total Net Assets - 100.0%			$	1,758,419,686

Futures Contracts

Description

Number of Contracts

Expiration Date

Notional Amount

Value and Unrealized
Appreciation^**

Equity Futures Contracts Purchased^†

NASDAQ-100 Index Mini Futures Contracts

234

Sep 2021

68,063,580

2,561,255

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements^††

Goldman Sachs International

NASDAQ-100 Index

0.64% (1 Week USD LIBOR + 0.55%)

At Maturity

07/15/21

1,314

19,127,658

993,515

Barclays Bank plc

NASDAQ-100 Index

0.59% (1 Week USD LIBOR + 0.50%)

At Maturity

07/14/21

150

2,178,222

134,259

BNP Paribas

NASDAQ-100 Index

0.74% (1 Month USD LIBOR + 0.65%)

At Maturity

07/15/21

151

2,196,239

128,575

23,502,119

1,256,349

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Affiliated issuer.
3	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
4	All or a portion of this security is pledged as futures collateral at June 30, 2021.
5	Rate indicated is the effective yield at the time of purchase.
6	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
7	Repurchase Agreements — See Note 4.
8	Securities lending collateral — See Note 5.
9	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

NASDAQ-100^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	1,667,900,273	$	—	$	—	$	1,667,900,273
Mutual Funds		51,260,631		—		—		51,260,631
Federal Agency Notes		—		6,416,318		—		6,416,318
U.S. Treasury Bills		—		3,978,792		—		3,978,792
Repurchase Agreements		—		14,935,792		—		14,935,792
Securities Lending Collateral		2,529,306		—		—		2,529,306
Equity Futures Contracts**		2,561,255		—		—		2,561,255
Equity Index Swap Agreements**		—		1,256,349		—		1,256,349
Total Assets	$	1,724,251,465	$	26,587,251	$	—	$	1,750,838,716

This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	14,378,100	$	–	$	–	$	–	$	5,756	$	14,383,856		575,584	$	51,095
Guggenheim Strategy Fund III		9,314,465		–		–		–		7,410		9,321,875		370,504		38,927
Guggenheim Ultra Short Duration Fund — Institutional Class		25,529,268		2,000,000		–		–		25,632		27,554,900		2,763,781		62,805
	$	49,221,833	$	2,000,000	$	–	$	–	$	38,798	$	51,260,631			$	152,827

Nova Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 81.4%
Technology - 18.9%
Apple, Inc.		161,148	$	22,070,830
Microsoft Corp.		77,373		20,960,346
NVIDIA Corp.		6,400		5,120,640
Adobe, Inc.^*		4,911		2,876,078
Intel Corp.		41,482		2,328,799
salesforce.com, Inc.^*		9,513		2,323,740
Broadcom, Inc.		4,195		2,000,344
Accenture plc — Class A		6,530		1,924,979
Texas Instruments, Inc.		9,488		1,824,542
QUALCOMM, Inc.		11,588		1,656,273
Oracle Corp.		18,663		1,452,728
Intuit, Inc.		2,807		1,375,907
International Business Machines Corp.		9,179		1,345,550
Applied Materials, Inc.		9,427		1,342,405
Advanced Micro Devices, Inc.^*		12,482		1,172,434
ServiceNow, Inc.^*		2,028		1,114,487
Micron Technology, Inc.^*		11,520		978,970
Lam Research Corp.		1,465		953,275
Fidelity National Information Services, Inc.		6,371		902,580
Activision Blizzard, Inc.		7,983		761,898
Autodesk, Inc.^*		2,260		659,694
Fiserv, Inc.^*		6,119		654,060
Analog Devices, Inc.		3,789		652,314
NXP Semiconductor N.V.		2,833		582,805
KLA Corp.		1,575		510,631
Roper Technologies, Inc.		1,081		508,286
MSCI, Inc. — Class A		847		451,519
Synopsys, Inc.^*		1,567		432,163
Electronic Arts, Inc.		2,940		422,860
Microchip Technology, Inc.		2,810		420,769
Cadence Design Systems, Inc.^*		2,859		391,168
Cognizant Technology Solutions Corp. — Class A		5,418		375,251
HP, Inc.		12,341		372,575
Xilinx, Inc.		2,525		365,216
Paychex, Inc.		3,295		353,553
Fortinet, Inc.^*		1,393		331,799
Skyworks Solutions, Inc.		1,696		325,208
ANSYS, Inc.^*		895		310,619
Zebra Technologies Corp. — Class A^*		550		291,219
Maxim Integrated Products, Inc.		2,757		290,478
Cerner Corp.		3,096		241,983
Teradyne, Inc.		1,708		228,804
Qorvo, Inc.^*		1,156		226,171
Western Digital Corp.^*		3,148		224,043
Take-Two Interactive Software, Inc.^*		1,188		210,300
Hewlett Packard Enterprise Co.		13,416		195,605
Akamai Technologies, Inc.^*		1,674		195,188
Broadridge Financial Solutions, Inc.		1,192		192,544
Tyler Technologies, Inc.^*		418		189,091
NetApp, Inc.		2,287		187,122
Paycom Software, Inc.^*		504		183,189
Seagate Technology Holdings plc		2,046		179,905
Monolithic Power Systems, Inc.		442		165,065
PTC, Inc.^*		1,080		152,561
Citrix Systems, Inc.		1,276		149,637
Leidos Holdings, Inc.		1,366		138,102
Jack Henry & Associates, Inc.		763		124,758
DXC Technology Co.^*		2,618		101,945
IPG Photonics Corp.^*		369		77,774
Total Technology				86,552,779
Consumer, Non-cyclical - 16.3%
Johnson & Johnson		27,054		4,456,876
UnitedHealth Group, Inc.		9,695		3,882,266
PayPal Holdings, Inc.^*		12,068		3,517,581
Procter & Gamble Co.		25,151		3,393,624
Pfizer, Inc.		57,505		2,251,896
Coca-Cola Co.		39,865		2,157,095
Abbott Laboratories		18,254		2,116,186
PepsiCo, Inc.		14,194		2,103,125
AbbVie, Inc.		18,145		2,043,853
Thermo Fisher Scientific, Inc.		4,038		2,037,050
Merck & Company, Inc.		26,013		2,023,031
Eli Lilly & Co.		8,177		1,876,785
Danaher Corp.		6,522		1,750,244
Medtronic plc		13,822		1,715,725
Philip Morris International, Inc.		16,011		1,586,851
Bristol-Myers Squibb Co.		22,950		1,533,519
Amgen, Inc.		5,903		1,438,856
CVS Health Corp.		13,525		1,128,526
Intuitive Surgical, Inc.^*		1,216		1,118,282
S&P Global, Inc.		2,475		1,015,864
Anthem, Inc.		2,514		959,845
Zoetis, Inc.		4,877		908,877
Altria Group, Inc.		19,012		906,492
Mondelez International, Inc. — Class A		14,431		901,072
Gilead Sciences, Inc.		12,885		887,261
Stryker Corp.		3,367		874,511
Automatic Data Processing, Inc.		4,371		868,168
Cigna Corp.		3,525		835,672
Estee Lauder Companies, Inc. — Class A		2,382		757,667
Becton Dickinson and Co.		2,988		726,652
Illumina, Inc.^*		1,500		709,815
Colgate-Palmolive Co.		8,691		707,013
Edwards Lifesciences Corp.^*		6,386		661,398
Boston Scientific Corp.^*		14,597		624,168
Regeneron Pharmaceuticals, Inc.^*		1,076		600,989
Moody's Corp.		1,654		599,360
Humana, Inc.		1,325		586,604
Global Payments, Inc.		3,033		568,809
HCA Healthcare, Inc.		2,699		557,991
IDEXX Laboratories, Inc.^*		876		553,238
Vertex Pharmaceuticals, Inc.^*		2,659		536,134
Biogen, Inc.^*		1,547		535,680
IQVIA Holdings, Inc.^*		1,969		477,128
Kimberly-Clark Corp.		3,467		463,815
Align Technology, Inc.^*		740		452,140
Centene Corp.^*		5,987		436,632
IHS Markit Ltd.		3,849		433,628
DexCom, Inc.^*		993		424,011
Alexion Pharmaceuticals, Inc.^*		2,270		417,022
Baxter International, Inc.		5,166		415,863

Nova Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 81.4% (continued)
Consumer, Non-cyclical - 16.3% (continued)
Sysco Corp.		5,256	$	408,654
Constellation Brands, Inc. — Class A		1,736		406,033
General Mills, Inc.		6,266		381,787
ResMed, Inc.		1,495		368,547
Archer-Daniels-Midland Co.		5,740		347,844
Monster Beverage Corp.^*		3,801		347,221
Cintas Corp.		907		346,474
Zimmer Biomet Holdings, Inc.		2,142		344,477
Corteva, Inc.		7,572		335,818
McKesson Corp.		1,625		310,765
Equifax, Inc.		1,250		299,387
Kroger Co.		7,778		297,975
Verisk Analytics, Inc. — Class A		1,665		290,909
Laboratory Corporation of America Holdings^*		1,003		276,677
West Pharmaceutical Services, Inc.		758		272,198
Kraft Heinz Co.		6,660		271,595
Hershey Co.		1,503		261,792
United Rentals, Inc.^*		744		237,343
Clorox Co.		1,277		229,745
McCormick & Company, Inc.		2,558		225,923
Tyson Foods, Inc. — Class A		3,027		223,271
FleetCor Technologies, Inc.^*		856		219,187
Church & Dwight Company, Inc.		2,519		214,669
Gartner, Inc.^*		884		214,105
STERIS plc		1,003		206,919
Cooper Companies, Inc.		505		200,116
Teleflex, Inc.		479		192,457
Charles River Laboratories International, Inc.^*		516		190,879
Catalent, Inc.^*		1,749		189,102
MarketAxess Holdings, Inc.		390		180,800
Conagra Brands, Inc.		4,931		179,390
Avery Dennison Corp.		853		179,335
PerkinElmer, Inc.		1,152		177,880
Viatris, Inc.		12,417		177,439
Quest Diagnostics, Inc.		1,342		177,104
Hologic, Inc.^*		2,632		175,607
AmerisourceBergen Corp. — Class A		1,518		173,796
Cardinal Health, Inc.		2,981		170,185
Kellogg Co.		2,589		166,550
Incyte Corp.^*		1,920		161,530
J M Smucker Co.		1,126		145,896
ABIOMED, Inc.^*		465		145,131
Bio-Rad Laboratories, Inc. — Class A^*		221		142,388
Dentsply Sirona, Inc.		2,243		141,892
Brown-Forman Corp. — Class B		1,876		140,588
Hormel Foods Corp.		2,896		138,284
Quanta Services, Inc.		1,431		129,606
Lamb Weston Holdings, Inc.		1,503		121,232
Universal Health Services, Inc. — Class B		801		117,290
Henry Schein, Inc.^*		1,445		107,205
Molson Coors Beverage Co. — Class B^*		1,935		103,890
Robert Half International, Inc.		1,158		103,027
Campbell Soup Co.		2,086		95,101
Nielsen Holdings plc		3,683		90,860
DaVita, Inc.^*		720		86,710
Organon & Co.^*		2,599		78,646
Rollins, Inc.		2,274		77,771
Perrigo Company plc		1,372		62,906
Total Consumer, Non-cyclical				74,594,798
Communications - 13.3%
Amazon.com, Inc.^*		4,403		15,147,024
Facebook, Inc. — Class A^*		24,615		8,558,882
Alphabet, Inc. — Class A^*		3,090		7,545,131
Alphabet, Inc. — Class C^*		2,925		7,330,986
Walt Disney Co.^*		18,666		3,280,923
Comcast Corp. — Class A		47,100		2,685,642
Netflix, Inc.^*		4,555		2,405,997
Verizon Communications, Inc.		42,531		2,383,012
Cisco Systems, Inc.		43,293		2,294,529
AT&T, Inc.		73,350		2,111,013
Charter Communications, Inc. — Class A^*		1,415		1,020,852
Booking Holdings, Inc.^*		422		923,374
T-Mobile US, Inc.^*		6,020		871,877
Twitter, Inc.^*		8,199		564,173
eBay, Inc.		6,649		466,826
Motorola Solutions, Inc.		1,743		377,970
Corning, Inc.		7,959		325,523
ViacomCBS, Inc. — Class B		6,221		281,189
Etsy, Inc.^*		1,306		268,827
CDW Corp.		1,440		251,496
Expedia Group, Inc.^*		1,453		237,871
VeriSign, Inc.^*		1,018		231,788
Arista Networks, Inc.^*		564		204,343
Omnicom Group, Inc.		2,210		176,778
NortonLifeLock, Inc.		5,958		162,177
Lumen Technologies, Inc.		10,220		138,890
Interpublic Group of Companies, Inc.		4,041		131,292
Fox Corp. — Class A		3,359		124,720
F5 Networks, Inc.^*		612		114,236
DISH Network Corp. — Class A^*		2,553		106,715
News Corp. — Class A		4,019		103,570
Juniper Networks, Inc.		3,367		92,087
Discovery, Inc. — Class C^*		3,086		89,432
Fox Corp. — Class B		1,561		54,947
Discovery, Inc. — Class A^*,1		1,733		53,168
News Corp. — Class B		1,251		30,462
Total Communications				61,147,722
Financial - 12.4%
Berkshire Hathaway, Inc. — Class B^*		19,471		5,411,380
JPMorgan Chase & Co.		31,099		4,837,139
Visa, Inc. — Class A		17,380		4,063,792
Mastercard, Inc. — Class A		8,987		3,281,064
Bank of America Corp.		77,470		3,194,088
Wells Fargo & Co.		42,464		1,923,195
Citigroup, Inc.		21,235		1,502,376
Morgan Stanley		15,291		1,402,032
Goldman Sachs Group, Inc.		3,495		1,326,457
BlackRock, Inc. — Class A		1,457		1,274,831
American Tower Corp. — Class A REIT		4,671		1,261,824
Charles Schwab Corp.		15,408		1,121,856

Nova Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 81.4% (continued)
Financial - 12.4% (continued)
American Express Co.		6,685	$	1,104,563
Prologis, Inc. REIT		7,600		908,428
Crown Castle International Corp. REIT		4,440		866,244
PNC Financial Services Group, Inc.		4,365		832,667
U.S. Bancorp		13,927		793,421
CME Group, Inc. — Class A		3,688		784,364
Truist Financial Corp.		13,816		766,788
Equinix, Inc. REIT		919		737,589
Marsh & McLennan Companies, Inc.		5,224		734,912
Chubb Ltd.		4,620		734,303
Capital One Financial Corp.		4,638		717,452
Intercontinental Exchange, Inc.		5,781		686,205
Progressive Corp.		6,011		590,340
Aon plc — Class A		2,318		553,446
Public Storage REIT		1,564		470,279
T. Rowe Price Group, Inc.		2,330		461,270
MetLife, Inc.		7,644		457,493
Simon Property Group, Inc. REIT		3,375		440,370
Digital Realty Trust, Inc. REIT		2,893		435,281
Bank of New York Mellon Corp.		8,288		424,594
American International Group, Inc.		8,816		419,642
Prudential Financial, Inc.		4,048		414,799
Allstate Corp.		3,075		401,103
Travelers Companies, Inc.		2,584		386,851
Discover Financial Services		3,131		370,366
SBA Communications Corp. REIT		1,123		357,900
Welltower, Inc. REIT		4,289		356,416
Aflac, Inc.		6,494		348,468
First Republic Bank		1,808		338,403
SVB Financial Group^*		558		310,488
Willis Towers Watson plc		1,325		304,777
AvalonBay Communities, Inc. REIT		1,434		299,261
Ameriprise Financial, Inc.		1,191		296,416
CBRE Group, Inc. — Class A^*		3,448		295,597
Arthur J Gallagher & Co.		2,105		294,868
State Street Corp.		3,573		293,986
Fifth Third Bancorp		7,232		276,479
Equity Residential REIT		3,534		272,118
Synchrony Financial		5,557		269,626
Weyerhaeuser Co. REIT		7,697		264,931
Alexandria Real Estate Equities, Inc. REIT		1,409		256,353
Realty Income Corp. REIT		3,838		256,148
Northern Trust Corp.		2,137		247,080
Hartford Financial Services Group, Inc.		3,670		227,430
Extra Space Storage, Inc. REIT		1,374		225,089
Ventas, Inc. REIT		3,854		220,063
Huntington Bancshares, Inc.		15,158		216,305
Nasdaq, Inc.		1,180		207,444
KeyCorp		9,970		205,881
Citizens Financial Group, Inc.		4,376		200,727
Essex Property Trust, Inc. REIT		668		200,407
Regions Financial Corp.		9,876		199,298
Mid-America Apartment Communities, Inc. REIT		1,176		198,062
M&T Bank Corp.		1,322		192,100
Healthpeak Properties, Inc. REIT		5,537		184,327
Duke Realty Corp. REIT		3,852		182,392
Cincinnati Financial Corp.		1,539		179,478
Boston Properties, Inc. REIT		1,458		167,072
Principal Financial Group, Inc.		2,599		164,231
Raymond James Financial, Inc.		1,256		163,154
UDR, Inc. REIT		3,049		149,340
Cboe Global Markets, Inc.		1,095		130,360
Loews Corp.		2,298		125,586
Iron Mountain, Inc. REIT		2,966		125,521
Host Hotels & Resorts, Inc. REIT^*		7,254		123,971
Lincoln National Corp.		1,837		115,437
W R Berkley Corp.		1,440		107,179
Regency Centers Corp. REIT		1,622		103,922
Invesco Ltd.		3,887		103,899
Everest Re Group Ltd.		412		103,828
Comerica, Inc.		1,434		102,302
Assurant, Inc.		622		97,144
Western Union Co.		4,204		96,566
Kimco Realty Corp. REIT		4,453		92,845
Globe Life, Inc.		974		92,773
Franklin Resources, Inc.		2,798		89,508
Zions Bancorp North America		1,683		88,963
Federal Realty Investment Trust REIT		727		85,183
People's United Financial, Inc.		4,393		75,296
Vornado Realty Trust REIT		1,613		75,279
Unum Group		2,098		59,583
Total Financial				56,910,064
Consumer, Cyclical - 7.7%
Tesla, Inc.^*		7,917		5,381,185
Home Depot, Inc.		10,923		3,483,235
NIKE, Inc. — Class B		13,098		2,023,510
Walmart, Inc.		14,106		1,989,228
Costco Wholesale Corp.		4,541		1,796,737
McDonald's Corp.		7,666		1,770,769
Lowe's Companies, Inc.		7,262		1,408,610
Starbucks Corp.		12,105		1,353,460
Target Corp.		5,082		1,228,523
TJX Companies, Inc.		12,390		835,334
General Motors Co.^*		13,115		776,014
Ford Motor Co.^*		40,278		598,531
Dollar General Corp.		2,427		525,179
Ross Stores, Inc.		3,663		454,212
Chipotle Mexican Grill, Inc. — Class A^*		289		448,048
Aptiv plc^*		2,779		437,220
O'Reilly Automotive, Inc.^*		717		405,973
Walgreens Boots Alliance, Inc.		7,370		387,736
Marriott International, Inc. — Class A^*		2,743		374,474
Cummins, Inc.		1,501		365,959
Yum! Brands, Inc.		3,060		351,992
Hilton Worldwide Holdings, Inc.^*		2,861		345,094
AutoZone, Inc.^*		222		331,273
Southwest Airlines Co.^*		6,075		322,522
PACCAR, Inc.		3,565		318,176

Nova Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 81.4% (continued)
Consumer, Cyclical - 7.7% (continued)
Fastenal Co.		5,900	$	306,800
DR Horton, Inc.		3,370		304,547
Delta Air Lines, Inc.^*		6,570		284,218
Copart, Inc.^*		2,139		281,984
Lennar Corp. — Class A		2,833		281,459
VF Corp.		3,304		271,060
Best Buy Company, Inc.		2,290		263,304
Dollar Tree, Inc.^*		2,382		237,009
Caesars Entertainment, Inc.^*		2,144		222,440
Tractor Supply Co.		1,184		220,295
CarMax, Inc.^*		1,676		216,455
Carnival Corp.^*		8,201		216,178
WW Grainger, Inc.		450		197,100
Darden Restaurants, Inc.		1,344		196,211
Ulta Beauty, Inc.^*		563		194,669
Royal Caribbean Cruises Ltd.^*		2,249		191,795
Pool Corp.		412		188,968
Genuine Parts Co.		1,484		187,681
Domino's Pizza, Inc.		399		186,130
MGM Resorts International		4,183		178,405
Las Vegas Sands Corp.^*		3,375		177,829
NVR, Inc.^*		35		174,065
United Airlines Holdings, Inc.^*		3,324		173,812
L Brands, Inc.		2,407		173,448
PulteGroup, Inc.		2,717		148,267
LKQ Corp.^*		2,856		140,572
Whirlpool Corp.		643		140,187
American Airlines Group, Inc.^*		6,589		139,753
Advance Auto Parts, Inc.		672		137,854
Wynn Resorts Ltd.^*		1,081		132,206
Live Nation Entertainment, Inc.^*		1,484		129,983
Tapestry, Inc.^*		2,864		124,527
Hasbro, Inc.		1,313		124,105
BorgWarner, Inc.		2,464		119,603
Penn National Gaming, Inc.^*		1,526		116,724
Mohawk Industries, Inc.^*		601		115,506
Norwegian Cruise Line Holdings Ltd.^*,1		3,800		111,758
Newell Brands, Inc.		3,889		106,831
PVH Corp.^*		731		78,648
Alaska Air Group, Inc.^*		1,279		77,136
Gap, Inc.		2,134		71,809
Leggett & Platt, Inc.		1,369		70,928
Hanesbrands, Inc.		3,587		66,969
Ralph Lauren Corp. — Class A		496		58,434
Under Armour, Inc. — Class A^*		1,938		40,989
Under Armour, Inc. — Class C^*		2,019		37,493
Total Consumer, Cyclical				35,329,138
Industrial - 6.7%
Honeywell International, Inc.		7,135		1,565,062
United Parcel Service, Inc. — Class B		7,431		1,545,425
Union Pacific Corp.		6,824		1,500,802
Boeing Co.^*		5,647		1,352,795
Raytheon Technologies Corp.		15,565		1,327,850
Caterpillar, Inc.		5,628		1,224,822
General Electric Co.		90,184		1,213,876
3M Co.		5,955		1,182,842
Deere & Co.		3,205		1,130,436
Lockheed Martin Corp.		2,513		950,794
CSX Corp.		23,343		748,843
FedEx Corp.		2,508		748,212
Norfolk Southern Corp.		2,571		682,369
Illinois Tool Works, Inc.		2,953		660,173
Eaton Corporation plc		4,094		606,649
Emerson Electric Co.		6,160		592,838
Waste Management, Inc.		3,990		559,039
Northrop Grumman Corp.		1,538		558,955
Johnson Controls International plc		7,363		505,323
Agilent Technologies, Inc.		3,117		460,724
TE Connectivity Ltd.		3,392		458,632
L3Harris Technologies, Inc.		2,106		455,212
Trane Technologies plc		2,457		452,432
General Dynamics Corp.		2,352		442,787
Amphenol Corp. — Class A		6,139		419,969
Carrier Global Corp.		8,392		407,851
Parker-Hannifin Corp.		1,326		407,228
TransDigm Group, Inc.^*		564		365,072
Rockwell Automation, Inc.		1,192		340,936
Stanley Black & Decker, Inc.		1,659		340,078
Otis Worldwide Corp.		4,144		338,855
Mettler-Toledo International, Inc.^*		239		331,096
AMETEK, Inc.		2,372		316,662
Keysight Technologies, Inc.^*		1,893		292,298
Ball Corp.		3,372		273,200
Generac Holdings, Inc.^*		646		268,187
Kansas City Southern		934		264,668
Old Dominion Freight Line, Inc.		977		247,963
Fortive Corp.		3,478		242,556
Republic Services, Inc. — Class A		2,163		237,952
Vulcan Materials Co.		1,362		237,083
Martin Marietta Materials, Inc.		641		225,510
Garmin Ltd.		1,540		222,746
Dover Corp.		1,479		222,737
Xylem, Inc.		1,849		221,806
Expeditors International of Washington, Inc.		1,735		219,651
Waters Corp.^*		634		219,117
Trimble, Inc.^*		2,578		210,958
Teledyne Technologies, Inc.^*		477		199,782
Ingersoll Rand, Inc.^*		3,835		187,186
Amcor plc		15,839		181,515
Jacobs Engineering Group, Inc.		1,338		178,516
IDEX Corp.		780		171,639
Textron, Inc.		2,319		159,477
Masco Corp.		2,607		153,578
Westinghouse Air Brake Technologies Corp.		1,825		150,198
Westrock Co.		2,733		145,450
Fortune Brands Home & Security, Inc.		1,422		141,646
J.B. Hunt Transport Services, Inc.		857		139,648
Howmet Aerospace, Inc.^*		4,016		138,432
Packaging Corporation of America		976		132,170
Allegion plc		924		128,713
CH Robinson Worldwide, Inc.		1,366		127,953
Snap-on, Inc.		556		124,227

Nova Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 81.4% (continued)
Industrial - 6.7% (continued)
Pentair plc		1,707	$	115,205
A O Smith Corp.		1,381		99,515
Sealed Air Corp.		1,561		92,489
Huntington Ingalls Industries, Inc.		413		87,040
Total Industrial				30,655,450
Energy - 2.4%
Exxon Mobil Corp.		43,491		2,743,412
Chevron Corp.		19,856		2,079,718
ConocoPhillips		13,863		844,257
EOG Resources, Inc.		5,996		500,306
Schlumberger N.V.		14,365		459,824
Marathon Petroleum Corp.		6,633		400,766
Pioneer Natural Resources Co.		2,381		386,960
Phillips 66		4,498		386,018
Kinder Morgan, Inc.		20,008		364,746
Williams Companies, Inc.		12,480		331,344
Valero Energy Corp.		4,199		327,858
Occidental Petroleum Corp.		8,630		269,860
Enphase Energy, Inc.^*		1,394		255,980
ONEOK, Inc.		4,577		254,664
Hess Corp.		2,820		246,242
Halliburton Co.		9,140		211,317
Devon Energy Corp.		6,119		178,614
Diamondback Energy, Inc.		1,859		174,542
Baker Hughes Co.		7,473		170,907
Marathon Oil Corp.		8,097		110,281
APA Corp.		3,882		83,968
Cabot Oil & Gas Corp. — Class A		4,105		71,673
NOV, Inc.^*		4,013		61,479
Total Energy				10,914,736
Utilities - 2.0%
NextEra Energy, Inc.		20,150		1,476,592
Duke Energy Corp.		7,902		780,085
Southern Co.		10,876		658,107
Dominion Energy, Inc.		8,286		609,601
Exelon Corp.		10,039		444,828
American Electric Power Company, Inc.		5,134		434,285
Sempra Energy		3,237		428,838
Xcel Energy, Inc.		5,529		364,251
Public Service Enterprise Group, Inc.		5,189		309,991
WEC Energy Group, Inc.		3,240		288,198
American Water Works Company, Inc.		1,864		287,298
Eversource Energy		3,529		283,167
DTE Energy Co.		1,990		257,904
Consolidated Edison, Inc.		3,521		252,526
Edison International		3,898		225,382
PPL Corp.		7,905		221,103
Ameren Corp.		2,625		210,105
FirstEnergy Corp.		5,588		207,930
Entergy Corp.		2,061		205,482
AES Corp.		6,845		178,449
CMS Energy Corp.		2,974		175,704
CenterPoint Energy, Inc.		5,964		146,237
Alliant Energy Corp.		2,570		143,303
Evergy, Inc.		2,355		142,313
Atmos Energy Corp.		1,342		128,980
NRG Energy, Inc.		2,514		101,314
NiSource, Inc.		4,029		98,710
Pinnacle West Capital Corp.		1,157		94,839
Total Utilities				9,155,522
Basic Materials - 1.7%
Linde plc		5,344		1,544,950
Sherwin-Williams Co.		2,459		669,955
Air Products and Chemicals, Inc.		2,273		653,897
Freeport-McMoRan, Inc.		15,056		558,728
Ecolab, Inc.		2,555		526,253
Newmont Corp.		8,230		521,618
Dow, Inc.		7,674		485,611
DuPont de Nemours, Inc.		5,467		423,200
PPG Industries, Inc.		2,435		413,390
International Flavors & Fragrances, Inc.		2,557		382,016
Nucor Corp.		3,074		294,889
LyondellBasell Industries N.V. — Class A		2,645		272,091
International Paper Co.		4,024		246,711
Albemarle Corp.		1,199		201,984
Celanese Corp. — Class A		1,157		175,401
Eastman Chemical Co.		1,401		163,567
FMC Corp.		1,324		143,257
CF Industries Holdings, Inc.		2,203		113,344
Mosaic Co.		3,550		113,280
Total Basic Materials				7,904,142
Total Common Stocks
(Cost $340,546,987)				373,164,351

MUTUAL FUNDS^† - 8.7%
Guggenheim Ultra Short Duration Fund — Institutional Class²	2,434,889	24,275,848
Guggenheim Strategy Fund II²	428,246	10,701,879
Guggenheim Strategy Fund III²	184,563	4,643,596
Total Mutual Funds
(Cost $39,381,510)		39,621,323

	Face Amount
U.S. TREASURY BILLS^†† - 1.8%
U.S. Treasury Bills
0.04% due 12/09/21^3,4	$	6,700,000	6,698,427
0.03% due 12/09/21⁴		1,100,000	1,099,741
0.01% due 08/03/21⁴		493,000	492,979
Total U.S. Treasury Bills
(Cost $8,291,690)			8,291,147

FEDERAL AGENCY NOTES^†† - 0.2%

Nova Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Face Amount		Value
FEDERAL AGENCY NOTES^†† - 0.2% (continued)
Freddie Mac.
0.35% due 01/27/23	$	850,000	$	850,097
Total Federal Agency Notes
(Cost $850,331)				850,097

REPURCHASE AGREEMENTS^††,5 - 6.5%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21³	16,800,992	16,800,992
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21³	6,614,535	6,614,535
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21³	6,484,839	6,484,839
Total Repurchase Agreements
(Cost $29,900,366)		29,900,366

	Shares
SECURITIES LENDING COLLATERAL^†,6 - 0.0%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁷		124,344		124,344
Total Securities Lending Collateral
(Cost $124,344)				124,344
Total Investments - 98.6%
(Cost $419,095,228)			$	451,951,628
Other Assets & Liabilities, net - 1.4%				6,223,289
Total Net Assets - 100.0%			$	458,174,917

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements^††

Goldman Sachs International

S&P 500 Index

0.54% (1 Week USD LIBOR + 0.45%)

At Maturity

07/15/21

49,909

214,482,239

4,380,756

Barclays Bank plc

S&P 500 Index

0.54% (1 Week USD LIBOR + 0.45%)

At Maturity

07/14/21

22,385

96,198,971

2,100,530

BNP Paribas

S&P 500 Index

0.64% (1 Month USD LIBOR + 0.55%)

At Maturity

07/15/21

653

2,806,968

65,434

313,488,178

6,546,720

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
4	Rate indicated is the effective yield at the time of purchase.
5	Repurchase Agreements — See Note 4.
6	Securities lending collateral — See Note 5.
7	Rate indicated is the 7-day yield as of June 30, 2021.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	373,164,351	$	—	$	—	$	373,164,351
Mutual Funds		39,621,323		—		—		39,621,323
U.S. Treasury Bills		—		8,291,147		—		8,291,147
Federal Agency Notes		—		850,097		—		850,097
Repurchase Agreements		—		29,900,366		—		29,900,366
Securities Lending Collateral		124,344		—		—		124,344
Equity Index Swap Agreements**		—		6,546,720		—		6,546,720
Total Assets	$	412,910,018	$	45,588,330	$	—	$	458,498,348

This derivative is reported as unrealized appreciation/depreciation at period end.

Nova Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	10,697,596	$	–	$	–	$	–	$	4,283	$	10,701,879		428,246	$	38,016
Guggenheim Strategy Fund III		4,639,905		–		–		–		3,691		4,643,596		184,563		19,391
Guggenheim Ultra Short Duration Fund — Institutional Class		19,255,008		5,000,000		–		–		20,840		24,275,848		2,434,889		54,258
	$	34,592,509	$	5,000,000	$	–	$	–	$	28,814	$	39,621,323			$	111,665

Precious Metals Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 95.1%
Mining - 95.1%
Freeport-McMoRan, Inc.		265,725	$	9,861,055
Newmont Corp.		145,973		9,251,769
Barrick Gold Corp.		378,437		7,826,077
Franco-Nevada Corp.		46,824		6,792,758
Wheaton Precious Metals Corp.		131,071		5,776,299
Agnico Eagle Mines Ltd.		80,065		4,839,929
Sibanye Stillwater Ltd. ADR		276,767		4,630,312
Kirkland Lake Gold Ltd.		106,253		4,093,928
Royal Gold, Inc.		31,485		3,592,439
Kinross Gold Corp.		565,450		3,590,608
Gold Fields Ltd. ADR		400,775		3,566,897
AngloGold Ashanti Ltd. ADR		190,985		3,548,501
Pan American Silver Corp.		111,049		3,172,670
B2Gold Corp.		627,730		2,642,743
Yamana Gold, Inc.¹		604,862		2,552,518
First Majestic Silver Corp.¹		161,157		2,547,892
Hecla Mining Co.		337,340		2,509,810
SSR Mining, Inc.		151,811		2,366,733
Alamos Gold, Inc. — Class A		287,625		2,200,331
Novagold Resources, Inc.^*		256,680		2,056,007
Osisko Gold Royalties Ltd.		141,596		1,939,865
Coeur Mining, Inc.^*		211,868		1,881,388
Harmony Gold Mining Company Ltd. ADR¹		497,220		1,854,631
MAG Silver Corp.^*		84,564		1,769,079
Equinox Gold Corp.^*,1		246,379		1,712,334
Pretium Resources, Inc.^*		178,443		1,705,915
Eldorado Gold Corp.^*		170,029		1,691,789
Sandstorm Gold Ltd.^*,1		196,319		1,548,957
Seabridge Gold, Inc.^*,1		83,906		1,472,550
IAMGOLD Corp.^*		494,537		1,458,884
SilverCrest Metals, Inc.^*		163,690		1,429,014
New Gold, Inc.^*		766,943		1,388,167
Gatos Silver, Inc.^*,1		74,890		1,309,826
Fortuna Silver Mines, Inc.^*,1		228,902		1,270,406
Endeavour Silver Corp.^*		204,957		1,254,337
Silvercorp Metals, Inc.		225,056		1,235,557
Gold Resource Corp.		219,357		565,941
Total Mining				112,907,916
Total Common Stocks
(Cost $69,848,331)				112,907,916

EXCHANGE-TRADED FUNDS^† - 4.1%
VanEck Vectors Junior Gold Miners ETF¹	104,584	4,889,302
Total Exchange-Traded Funds
(Cost $3,669,874)		4,889,302

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.8%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	566,768	566,768
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		223,136	223,136
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		218,761	218,761
Total Repurchase Agreements
(Cost $1,008,665)			1,008,665

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 3.6%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		4,248,283		4,248,283
Total Securities Lending Collateral
(Cost $4,248,283)				4,248,283
Total Investments - 103.6%
(Cost $78,775,153)			$	123,054,166
Other Assets & Liabilities, net - (3.6)%				(4,291,088	)
Total Net Assets - 100.0%			$	118,763,078

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

Precious Metals Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	112,907,916	$	—	$	—	$	112,907,916
Exchange-Traded Funds		4,889,302		—		—		4,889,302
Repurchase Agreements		—		1,008,665		—		1,008,665
Securities Lending Collateral		4,248,283		—		—		4,248,283
Total Assets	$	122,045,501	$	1,008,665	$	—	$	123,054,166

Real Estate Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
REITs - 92.4%
REITs-Diversified - 25.3%
American Tower Corp. — Class A		2,380	$	642,933
Crown Castle International Corp.		2,708		528,331
Equinix, Inc.		609		488,783
Digital Realty Trust, Inc.		2,484		373,743
SBA Communications Corp.		1,071		341,328
Weyerhaeuser Co.		8,563		294,738
Duke Realty Corp.		5,056		239,402
VICI Properties, Inc.		7,437		230,696
WP Carey, Inc.		2,835		211,548
Gaming and Leisure Properties, Inc.		4,071		188,609
Lamar Advertising Co. — Class A		1,805		188,478
Vornado Realty Trust		3,647		170,205
CoreSite Realty Corp.		1,110		149,406
National Storage Affiliates Trust		2,684		135,703
Rayonier, Inc.		3,680		132,222
New Residential Investment Corp.		12,083		127,959
PS Business Parks, Inc.		773		114,466
EPR Properties^*		2,170		114,316
PotlatchDeltic Corp.		2,072		110,127
Outfront Media, Inc.^*		4,505		108,255
National Health Investors, Inc.		1,521		101,983
Uniti Group, Inc.		8,595		91,021
Total REITs-Diversified				5,084,252
REITs-Apartments - 11.5%
AvalonBay Communities, Inc.		1,487		310,322
Equity Residential		3,977		306,229
Invitation Homes, Inc.		7,113		265,244
Essex Property Trust, Inc.		848		254,408
Mid-America Apartment Communities, Inc.		1,503		253,135
UDR, Inc.		4,482		219,528
Camden Property Trust		1,559		206,833
American Homes 4 Rent — Class A		5,267		204,623
Apartment Income REIT Corp.		3,307		156,851
American Campus Communities, Inc.		3,088		144,271
Total REITs-Apartments				2,321,444
REITs-Office Property - 10.6%
Alexandria Real Estate Equities, Inc.		1,683		306,205
Boston Properties, Inc.		2,091		239,608
VEREIT, Inc.		4,028		185,006
Kilroy Realty Corp.		2,342		163,097
SL Green Realty Corp.		1,724		137,920
Douglas Emmett, Inc.		4,078		137,102
Cousins Properties, Inc.		3,607		132,665
Highwoods Properties, Inc.		2,733		123,450
Hudson Pacific Properties, Inc.		4,179		116,260
JBG SMITH Properties		3,631		114,413
Lexington Realty Trust		8,843		105,674
Corporate Office Properties Trust		3,590		100,484
Equity Commonwealth		3,825		100,215
Brandywine Realty Trust		6,312		86,538
Piedmont Office Realty Trust, Inc. — Class A		4,602		84,999
Total REITs-Office Property				2,133,636
REITs-Warehouse/Industries - 9.3%
Prologis, Inc.		4,482		535,733
Americold Realty Trust		4,690		177,516
CyrusOne, Inc.		2,423		173,293
Rexford Industrial Realty, Inc.		2,852		162,421
First Industrial Realty Trust, Inc.		2,838		148,229
EastGroup Properties, Inc.		898		147,676
STAG Industrial, Inc.		3,757		140,624
QTS Realty Trust, Inc. — Class A		1,727		133,497
Innovative Industrial Properties, Inc.		658		125,691
Terreno Realty Corp.		1,871		120,717
Total REITs-Warehouse/Industries				1,865,397
REITs-Health Care - 8.5%
Welltower, Inc.		4,158		345,530
Ventas, Inc.		4,648		265,401
Healthpeak Properties, Inc.		7,257		241,586
Medical Properties Trust, Inc.		9,703		195,030
Omega Healthcare Investors, Inc.		4,641		168,422
Healthcare Trust of America, Inc. — Class A		5,036		134,461
Healthcare Realty Trust, Inc.		3,903		117,871
Sabra Health Care REIT, Inc.		6,390		116,298
Physicians Realty Trust		6,132		113,258
Total REITs-Health Care				1,697,857
REITs-Storage - 6.2%
Public Storage		1,403		421,868
Extra Space Storage, Inc.		1,663		272,433
Iron Mountain, Inc.		4,597		194,545
CubeSmart		3,808		176,387
Life Storage, Inc.		1,553		166,715
Total REITs-Storage				1,231,948
REITs-Hotels - 4.6%
Host Hotels & Resorts, Inc.^*		11,501		196,552
MGM Growth Properties LLC — Class A		4,897		179,328
Park Hotels & Resorts, Inc.^*		6,078		125,268
Ryman Hospitality Properties, Inc.^*		1,492		117,808
Apple Hospitality REIT, Inc.		6,845		104,455
Pebblebrook Hotel Trust		4,271		100,582
Sunstone Hotel Investors, Inc.^*		7,435		92,343
Total REITs-Hotels				916,336
REITs-Shopping Centers - 4.4%
Regency Centers Corp.		2,958		189,519
Kimco Realty Corp.		8,330		173,680
Federal Realty Investment Trust		1,462		171,303
Brixmor Property Group, Inc.		6,549		149,907
Weingarten Realty Investors		3,649		117,023
Retail Opportunity Investments Corp.		4,690		82,825
Total REITs-Shopping Centers				884,257
REITs-Single Tenant - 4.4%
Realty Income Corp.		4,271		285,047

Real Estate Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5% (continued)
REITs - 92.4% (continued)
REITs-Single Tenant - 4.4% (continued)
STORE Capital Corp.		5,071	$	175,000
National Retail Properties, Inc.		3,485		163,377
Spirit Realty Capital, Inc.		2,808		134,335
Agree Realty Corp.		1,790		126,177
Total REITs-Single Tenant				883,936
REITs-Mortgage - 2.8%
AGNC Investment Corp.		10,145		171,349
Starwood Property Trust, Inc.		6,098		159,585
Blackstone Mortgage Trust, Inc. — Class A		3,875		123,574
Chimera Investment Corp.¹		7,096		106,866
Total REITs-Mortgage				561,374
REITs-Regional Malls - 2.5%
Simon Property Group, Inc.		2,913		380,088
Macerich Co.		6,326		115,449
Total REITs-Regional Malls				495,537
REITs-Manufactured Homes - 2.3%
Sun Communities, Inc.		1,463		250,758
Equity LifeStyle Properties, Inc.		2,836		210,743
Total REITs-Manufactured Homes				461,501
Total REITs				18,537,475
Real Estate - 5.6%
Real Estate Management/Services - 4.9%
CBRE Group, Inc. — Class A^*		3,578		306,742
KE Holdings, Inc. ADR^*		4,520		215,513
Jones Lang LaSalle, Inc.^*		928		181,387
Redfin Corp.^*		2,392		151,677
eXp World Holdings, Inc.^*		3,671		142,325
Total Real Estate Management/Services				997,644
Real Estate Operations/Development - 0.7%
Howard Hughes Corp.^*		1,351		131,668
Total Real Estate				1,129,312
Internet - 0.9%
Opendoor Technologies, Inc.^*,1		10,700		189,711
Diversified Financial Services - 0.6%
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		2,188		122,856
Total Common Stocks
(Cost $17,487,232)				19,979,354

	Face Amount		Value
REPURCHASE AGREEMENTS^††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	62,323		62,323
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		24,537		24,537
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		24,055		24,055
Total Repurchase Agreements
(Cost $110,915)				110,915

	Shares		Value
SECURITIES LENDING COLLATERAL^†,3 - 1.1%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		222,843		222,843
Total Securities Lending Collateral
(Cost $222,843)				222,843
Total Investments - 101.2%
(Cost $17,820,990)			$	20,313,112
Other Assets & Liabilities, net - (1.2)%				(228,634	)
Total Net Assets - 100.0%			$	20,084,478

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	19,979,354	$	—	$	—	$	19,979,354
Repurchase Agreements		—		110,915		—		110,915
Securities Lending Collateral		222,843		—		—		222,843
Total Assets	$	20,202,197	$	110,915	$	—	$	20,313,112

Retailing Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Retail - 56.6%
Walmart, Inc.		9,419	$	1,328,267
Home Depot, Inc.		3,911		1,247,179
Costco Wholesale Corp.		2,239		885,905
Lowe's Companies, Inc.		4,060		787,518
Target Corp.		3,053		738,032
TJX Companies, Inc.		9,014		607,724
Dollar General Corp.		2,195		474,976
Ross Stores, Inc.		3,629		449,996
Walgreens Boots Alliance, Inc.		8,447		444,397
O'Reilly Automotive, Inc.^*		753		426,356
AutoZone, Inc.^*		262		390,962
Best Buy Company, Inc.		3,157		362,992
CarMax, Inc.^*		2,477		319,905
L Brands, Inc.		4,385		315,983
Dollar Tree, Inc.^*		3,170		315,415
Tractor Supply Co.		1,694		315,186
Burlington Stores, Inc.^*		977		314,584
Ulta Beauty, Inc.^*		852		294,596
Genuine Parts Co.		2,263		286,202
RH^*		373		253,267
Advance Auto Parts, Inc.		1,213		248,835
Gap, Inc.		7,131		239,958
Carvana Co.^*		770		232,401
Floor & Decor Holdings, Inc. — Class A^*		2,193		231,800
Williams-Sonoma, Inc.		1,448		231,173
Five Below, Inc.^*		1,152		222,647
Lithia Motors, Inc. — Class A		641		220,273
Dick's Sporting Goods, Inc.		2,063		206,692
Kohl's Corp.		3,616		199,278
AutoNation, Inc.^*		1,967		186,491
American Eagle Outfitters, Inc.		4,631		173,801
Foot Locker, Inc.		2,784		171,578
BJ's Wholesale Club Holdings, Inc.^*		3,575		170,099
Nordstrom, Inc.^*		4,552		166,467
Macy's, Inc.^*		8,658		164,156
Vroom, Inc.^*		3,820		159,905
Ollie's Bargain Outlet Holdings, Inc.^*		1,792		150,761
Bed Bath & Beyond, Inc.^*		3,980		132,494
GameStop Corp. — Class A^*,1		593		126,985
Murphy USA, Inc.		943		125,768
Big Lots, Inc.		1,521		100,401
Total Retail				14,421,405
Internet - 39.8%
Amazon.com, Inc.^*		793		2,728,047
Alibaba Group Holding Ltd. ADR^*		4,184		948,848
Booking Holdings, Inc.^*		278		608,289
DoorDash, Inc. — Class A^*		2,939		524,112
JD.com, Inc. ADR^*		6,464		515,892
eBay, Inc.		6,740		473,215
MercadoLibre, Inc.^*		273		425,277
Chewy, Inc. — Class A^*,1		4,827		384,760
Wayfair, Inc. — Class A^*		1,213		382,956
Etsy, Inc.^*		1,807		371,953
Vipshop Holdings Ltd. ADR^*		17,318		347,745
Expedia Group, Inc.^*		1,965		321,690
Pinduoduo, Inc. ADR^*		2,524		320,598
Farfetch Ltd. — Class A^*		5,930		298,635
Just Eat Takeaway.com N.V. ADR^*		16,108		294,125
Fiverr International Ltd.^*		1,096		265,769
Trip.com Group Ltd. ADR^*		7,371		261,376
Jumia Technologies AG ADR^*,1		8,288		251,375
Stitch Fix, Inc. — Class A^*		2,756		166,187
Overstock.com, Inc.^*		1,451		133,782
Stamps.com, Inc.^*		624		124,981
Total Internet				10,149,612
Distribution & Wholesale - 2.2%
Pool Corp.		633		290,332
LKQ Corp.^*		5,277		259,734
Total Distribution & Wholesale				550,066
Apparel - 0.5%
Urban Outfitters, Inc.^*		3,353		138,210
Electrical Components & Equipment - 0.4%
Blink Charging Co.^*,1		2,118		87,198
Total Common Stocks
(Cost $16,101,900)				25,346,491

	Face Amount		Value
REPURCHASE AGREEMENTS^††,2 - 1.1%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	156,333		156,333
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		61,548		61,548
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		60,341		60,341
Total Repurchase Agreements
(Cost $278,222)				278,222

	Shares		Value
SECURITIES LENDING COLLATERAL^†,3 - 2.4%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		610,907		610,907
Total Securities Lending Collateral
(Cost $610,907)				610,907
Total Investments - 103.0%
(Cost $16,991,029)			$	26,235,620
Other Assets & Liabilities, net - (3.0)%				(757,969	)
Total Net Assets - 100.0%			$	25,477,651

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

Retailing Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	25,346,491	$	—	$	—	$	25,346,491
Repurchase Agreements		—		278,222		—		278,222
Securities Lending Collateral		610,907		—		—		610,907
Total Assets	$	25,957,398	$	278,222	$	—	$	26,235,620

Russell 2000^® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
RIGHTS^††† - 0.0%
Communications – 0.0%
Nexstar Media Group, Inc.*		85		-
Consumer, Non-cyclical - 0.0%
Omthera Pharmaceuticlas, Inc*		57		-
Tobira Therapeutics, Inc.		14		–
Total Consumer, Non-cyclical				–
Total Rights
(Cost $–)				–

MUTUAL FUNDS^† - 17.5%
Guggenheim Ultra Short Duration Fund — Institutional Class¹	112,170	1,118,332
Guggenheim Strategy Fund II¹	36,876	921,534
Total Mutual Funds
(Cost $2,023,780)		2,039,866

	Face Amount		Value
FEDERAL AGENCY NOTES^†† - 19.4%
Federal Farm Credit Bank
0.40% (U.S. Prime Rate - 2.85%, Rate Floor: 0.00%) due 08/30/22²	$	1,000,000		1,003,733
0.13% (1 Month USD LIBOR + 0.03%, Rate Floor: 0.00%) due 12/29/21²		500,000		500,123
0.45% (U.S. Prime Rate - 2.80%, Rate Floor: 0.00%) due 03/14/22²		250,000		250,687
Federal Home Loan Bank
4.00% due 12/24/30		500,000		509,522
Total Federal Agency Notes
(Cost $2,262,020)				2,264,065

U.S. TREASURY BILLS^†† - 9.6%
U.S. Treasury Bills
0.04% due 12/09/21^3,4	1,000,000	999,765
0.03% due 08/03/21^4,5	125,000	124,995
Total U.S. Treasury Bills
(Cost $1,124,826)		1,124,760

FEDERAL AGENCY DISCOUNT NOTES^†† - 8.6%
Federal Home Loan Bank
0.03% due 11/19/21⁴	1,000,000	999,765
Total Federal Agency Discount Notes
(Cost $999,902)		999,765

REPURCHASE AGREEMENTS^††,6 - 39.4%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21³	2,582,858		2,582,858
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21³	1,016,869		1,016,869
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21³	996,930		996,930
Total Repurchase Agreements
(Cost $4,596,657)			4,596,657
Total Investments - 94.5%
(Cost $11,007,185)		$	11,025,113
Other Assets & Liabilities, net - 5.5%			636,568
Total Net Assets - 100.0%		$	11,661,681

Futures Contracts

Description

Number of Contracts

Expiration Date

Notional Amount

Value and Unrealized
Appreciation^**

Equity Futures Contracts Purchased^†

Russell 2000 Index Mini Futures Contracts

Sep 2021

2,190,510

20,341

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements^††

Barclays Bank plc

Russell 2000 Index

0.09% (1 Week USD LIBOR)

At Maturity

07/14/21

4,453

10,288,572

466,657

Goldman Sachs International

Russell 2000 Index

0.34% (1 Week USD LIBOR + 0.25%)

At Maturity

07/15/21

1,248

2,882,571

66,849

BNP Paribas

Russell 2000 Index

0.19% (1 Month USD LIBOR + 0.10%)

At Maturity

07/15/21

919

2,123,428

52,443

15,294,571

585,949

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	Affiliated issuer.
2	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
4	Rate indicated is the effective yield at the time of purchase.
5	All or a portion of this security is pledged as futures collateral at June 30, 2021.
6	Repurchase Agreements — See Note 4.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

Russell 2000^® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Rights	$	—	$	—		$ —	*	$	—
Mutual Funds		2,039,866		—		—			2,039,866
Federal Agency Notes		—		2,264,065		—			2,264,065
U.S. Treasury Bills		—		1,124,760		—			1,124,760
Federal Agency Discount Notes		—		999,765		—			999,765
Repurchase Agreements		—		4,596,657		—			4,596,657
Equity Futures Contracts**		20,341		—		—			20,341
Equity Index Swap Agreements**		—		585,949		—			585,949
Total Assets	$	2,060,207	$	9,571,196	$	—		$	11,631,403

	*	Includes securities with a market value of $0.
	**	This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	921,165	$	–	$	–	$	–	$	369	$	921,534		36,876	$	3,274
Guggenheim Ultra Short Duration Fund — Institutional Class		1,117,210		–		–		–		1,122		1,118,332		112,170		2,598
	$	2,038,375	$	–	$	–	$	–	$	1,491	$	2,039,866	$		$	5,872

Russell 2000^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
RIGHTS^††† - 0.0%
Communications - 0.0%
Nexstar Media Group, Inc.*		2,530	$	–
Consumer, Non-cyclical - 0.0%
Elanco Animal Health, Inc.*		505		–
Tobira Therapeutics, Inc.*		141		–
Omthera Pharmaceuticals, Inc.*		86		–
Oncternal Therapeutics, Inc.*		7		–
Total Consumer, Non-cyclical				–
Total Rights
(Cost $103)				–

EXCHANGE-TRADED FUNDS^† - 2.0%
iShares Russell 2000 Index ETF¹	1,823	418,141
Vanguard Russell 2000 ETF¹	4,515	417,954
Total Exchange-Traded Funds
(Cost $798,476)		836,095

	Face Amount		Value
FEDERAL AGENCY NOTES^†† - 55.2%
Federal Farm Credit Bank
0.45% (U.S. Prime Rate - 2.80%, Rate Floor: 0.00%) due 03/14/22²	$	4,000,000		4,010,993
0.34% (3 Month U.S. Treasury Bill Rate + 0.29%, Rate Floor: 0.00%) due 04/11/22²		2,000,000		2,004,078
0.13% (1 Month USD LIBOR + 0.03%, Rate Floor: 0.00%) due 12/29/21²		2,000,000		2,000,493
0.40% (U.S. Prime Rate - 2.85%, Rate Floor: 0.00%) due 08/30/22²		1,000,000		1,003,733
Federal Home Loan Bank
0.02% due 09/03/21		5,000,000		4,999,514
4.00% due 12/24/30		500,000		509,522
4.00% due 11/30/29		500,000		508,172
Farmer Mac
0.06% (3 Month USD LIBOR - 0.10%, Rate Floor: 0.00%) due 11/22/21²		4,000,000		4,000,044
0.08% (3 Month USD LIBOR - 0.10%, Rate Floor: 0.00%) due 08/03/21²		2,000,000		2,000,040
Freddie Mac
0.32% due 10/20/22		2,185,000		2,185,002
Total Federal Agency Notes
(Cost $23,208,959)				23,221,591

U.S. GOVERNMENT SECURITIES^†† - 9.6%
U.S. Treasury Notes
1.75% due 05/15/22	4,000,000	4,057,813
Total U.S. Government Securities
(Cost $4,058,446)		4,057,813

U.S. TREASURY BILLS^†† - 8.3%
U.S. Treasury Bills
0.04% due 12/09/21^3,4	3,200,000	3,199,248
0.03% due 08/03/21⁴	307,000	306,987
0.01% due 08/03/21^4,5	7,000	7,000
Total U.S. Treasury Bills
(Cost $3,513,446)		3,513,235

FEDERAL AGENCY DISCOUNT NOTES^†† - 2.4%
Federal Home Loan Bank
0.03% due 11/19/21⁴	1,000,000	999,765
Total Federal Agency Discount Notes
(Cost $999,902)		999,765

REPURCHASE AGREEMENTS^††,6 - 18.9%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21³	4,463,847	4,463,847
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21³	1,757,412	1,757,412
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21³	1,722,953	1,722,953
Total Repurchase Agreements
(Cost $7,944,212)		7,944,212

	Shares		Value
SECURITIES LENDING COLLATERAL^†,7 - 1.5%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁸		639,855		639,855
Total Securities Lending Collateral
(Cost $639,855)				639,855
Total Investments - 97.9%
(Cost $41,163,399)			$	41,212,566
Other Assets & Liabilities, net - 2.1%				876,130
Total Net Assets - 100.0%			$	42,088,696

Futures Contracts

Description

Number of Contracts

Expiration Date

Notional Amount

Value and Unrealized
Appreciation^**

Equity Futures Contracts Purchased^†

Russell 2000 Index Mini Futures Contracts

Sep 2021

5,533,920

51,388

Russell 2000^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation (Depreciation)

OTC Equity Index Swap Agreements^††

Barclays Bank plc

Russell 2000 Index

0.09% (1 Week USD LIBOR)

At Maturity

07/14/21

14,113

32,609,051

1,479,040

BNP Paribas

Russell 2000 Index

0.19% (1 Month USD LIBOR + 0.10%)

At Maturity

07/15/21

222

513,599

8,111

Goldman Sachs International

Russell 2000 Index

0.34% (1 Week USD LIBOR + 0.25%)

At Maturity

07/15/21

1,118

2,583,815

(11,002

)

35,706,465

1,476,149

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2021.
4	Rate indicated is the effective yield at the time of purchase.
5	All or a portion of this security is pledged as futures collateral at June 30, 2021.
6	Repurchase Agreements — See Note 4.
7	Securities lending collateral — See Note 5.
8	Rate indicated is the 7-day yield as of June 30, 2021.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Rights	$	—	$	—	$	—	*	$	—
Exchange-Traded Funds		836,095		—		—			836,095
Federal Agency Notes		—		23,221,591		—			23,221,591
U.S. Government Securities		—		4,057,813		—			4,057,813
U.S. Treasury Bills		—		3,513,235		—			3,513,235
Federal Agency Discount Notes		—		999,765		—			999,765
Repurchase Agreements		—		7,944,212		—			7,944,212
Securities Lending Collateral		639,855		—		—			639,855
Equity Futures Contracts**		51,388		—		—			51,388
Equity Index Swap Agreements**		—		1,487,151		—			1,487,151
Total Assets	$	1,527,338	$	41,223,767	$	—		$	42,751,105

Investments in Securities (Liabilities)		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Total
Equity Index Swap Agreements**		$	—			$	11,002			$	—			$	11,002

	*	Includes securities with a market value of $0.
	**	This derivative is reported as unrealized appreciation/depreciation at period end.

S&P 500^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 97.5%
Technology - 22.6%
Apple, Inc.		75,491	$	10,339,247
Microsoft Corp.		36,245		9,818,771
NVIDIA Corp.		2,998		2,398,700
Adobe, Inc.^*		2,300		1,346,972
Intel Corp.		19,434		1,091,025
salesforce.com, Inc.^*		4,456		1,088,467
Broadcom, Inc.		1,965		936,991
Accenture plc — Class A		3,059		901,763
Texas Instruments, Inc.		4,443		854,389
QUALCOMM, Inc.		5,429		775,967
Oracle Corp.		8,742		680,477
Intuit, Inc.		1,314		644,083
International Business Machines Corp.		4,300		630,337
Applied Materials, Inc.		4,416		628,838
Advanced Micro Devices, Inc.^*		5,848		549,303
ServiceNow, Inc.^*		950		522,072
Micron Technology, Inc.^*		5,397		458,637
Lam Research Corp.		686		446,380
Fidelity National Information Services, Inc.		2,984		422,743
Activision Blizzard, Inc.		3,739		356,850
Autodesk, Inc.^*		1,059		309,122
Fiserv, Inc.^*		2,866		306,347
Analog Devices, Inc.		1,775		305,584
NXP Semiconductor N.V.		1,327		272,990
KLA Corp.		737		238,943
Roper Technologies, Inc.		506		237,921
MSCI, Inc. — Class A		396		211,100
Synopsys, Inc.^*		733		202,154
Electronic Arts, Inc.		1,377		198,054
Microchip Technology, Inc.		1,316		197,058
Cadence Design Systems, Inc.^*		1,339		183,202
Cognizant Technology Solutions Corp. — Class A		2,538		175,782
HP, Inc.		5,781		174,528
Xilinx, Inc.		1,182		170,965
Paychex, Inc.		1,543		165,564
Fortinet, Inc.^*		652		155,300
Skyworks Solutions, Inc.		795		152,441
ANSYS, Inc.^*		419		145,418
Zebra Technologies Corp. — Class A^*		258		136,608
Maxim Integrated Products, Inc.		1,291		136,020
Cerner Corp.		1,449		113,254
Teradyne, Inc.		799		107,034
Qorvo, Inc.^*		542		106,042
Western Digital Corp.^*		1,473		104,834
Take-Two Interactive Software, Inc.^*		557		98,600
Hewlett Packard Enterprise Co.		6,285		91,635
Akamai Technologies, Inc.^*		784		91,414
Broadridge Financial Solutions, Inc.		559		90,295
Tyler Technologies, Inc.^*		196		88,665
NetApp, Inc.		1,070		87,547
Paycom Software, Inc.^*		236		85,779
Seagate Technology Holdings plc		958		84,237
Monolithic Power Systems, Inc.		207		77,304
PTC, Inc.^*		506		71,478
Citrix Systems, Inc.		597		70,010
Leidos Holdings, Inc.		639		64,603
Jack Henry & Associates, Inc.		358		58,537
DXC Technology Co.^*		1,226		47,741
IPG Photonics Corp.^*		173		36,463
Total Technology				40,542,585
Consumer, Non-cyclical - 19.5%
Johnson & Johnson		12,673		2,087,750
UnitedHealth Group, Inc.		4,540		1,817,998
PayPal Holdings, Inc.^*		5,653		1,647,736
Procter & Gamble Co.		11,783		1,589,880
Pfizer, Inc.		26,937		1,054,853
Coca-Cola Co.		18,676		1,010,559
Abbott Laboratories		8,551		991,317
PepsiCo, Inc.		6,649		985,182
AbbVie, Inc.		8,500		957,440
Thermo Fisher Scientific, Inc.		1,892		954,457
Merck & Company, Inc.		12,186		947,705
Eli Lilly & Co.		3,831		879,291
Danaher Corp.		3,054		819,571
Medtronic plc		6,474		803,618
Philip Morris International, Inc.		7,501		743,424
Bristol-Myers Squibb Co.		10,751		718,382
Amgen, Inc.		2,765		673,969
CVS Health Corp.		6,336		528,676
Intuitive Surgical, Inc.^*		570		524,195
S&P Global, Inc.		1,159		475,711
Anthem, Inc.		1,177		449,379
Zoetis, Inc.		2,284		425,646
Altria Group, Inc.		8,906		424,638
Mondelez International, Inc. — Class A		6,758		421,970
Gilead Sciences, Inc.		6,036		415,639
Stryker Corp.		1,577		409,594
Automatic Data Processing, Inc.		2,048		406,774
Cigna Corp.		1,651		391,403
Estee Lauder Companies, Inc. — Class A		1,116		354,977
Becton Dickinson and Co.		1,399		340,223
Illumina, Inc.^*		702		332,193
Colgate-Palmolive Co.		4,070		331,095
Edwards Lifesciences Corp.^*		2,992		309,881
Boston Scientific Corp.^*		6,838		292,393
Regeneron Pharmaceuticals, Inc.^*		503		280,946
Moody's Corp.		774		280,474
Humana, Inc.		621		274,929
Global Payments, Inc.		1,420		266,307
HCA Healthcare, Inc.		1,264		261,319
IDEXX Laboratories, Inc.^*		410		258,936
Vertex Pharmaceuticals, Inc.^*		1,246		251,231
Biogen, Inc.^*		725		251,046
IQVIA Holdings, Inc.^*		922		223,419
Kimberly-Clark Corp.		1,624		217,259
Align Technology, Inc.^*		347		212,017
Centene Corp.^*		2,805		204,569
IHS Markit Ltd.		1,803		203,126
DexCom, Inc.^*		465		198,555
Alexion Pharmaceuticals, Inc.^*		1,063		195,284
Baxter International, Inc.		2,420		194,810

S&P 500^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 97.5% (continued)
Consumer, Non-cyclical - 19.5% (continued)
Sysco Corp.		2,462	$	191,420
Constellation Brands, Inc. — Class A		813		190,153
General Mills, Inc.		2,936		178,890
ResMed, Inc.		700		172,564
Archer-Daniels-Midland Co.		2,689		162,954
Monster Beverage Corp.^*		1,780		162,603
Cintas Corp.		424		161,968
Zimmer Biomet Holdings, Inc.		1,003		161,303
Corteva, Inc.		3,547		157,309
McKesson Corp.		761		145,534
Equifax, Inc.		586		140,353
Kroger Co.		3,644		139,602
Verisk Analytics, Inc. — Class A		780		136,282
Laboratory Corporation of America Holdings^*		470		129,649
Kraft Heinz Co.		3,119		127,193
West Pharmaceutical Services, Inc.		354		127,121
Hershey Co.		704		122,623
United Rentals, Inc.^*		348		111,015
Clorox Co.		598		107,586
McCormick & Company, Inc.		1,198		105,807
Tyson Foods, Inc. — Class A		1,419		104,665
FleetCor Technologies, Inc.^*		401		102,680
Church & Dwight Company, Inc.		1,180		100,559
Gartner, Inc.^*		414		100,271
STERIS plc		469		96,755
Cooper Companies, Inc.		237		93,916
Teleflex, Inc.		224		90,001
Charles River Laboratories International, Inc.^*		241		89,151
Catalent, Inc.^*		820		88,658
MarketAxess Holdings, Inc.		183		84,837
Conagra Brands, Inc.		2,310		84,038
Avery Dennison Corp.		399		83,886
PerkinElmer, Inc.		539		83,227
Viatris, Inc.		5,817		83,125
Quest Diagnostics, Inc.		629		83,009
Hologic, Inc.^*		1,233		82,266
AmerisourceBergen Corp. — Class A		712		81,517
Cardinal Health, Inc.		1,395		79,640
Kellogg Co.		1,212		77,968
Incyte Corp.^*		900		75,717
J M Smucker Co.		527		68,283
ABIOMED, Inc.^*		218		68,040
Bio-Rad Laboratories, Inc. — Class A^*		104		67,006
Dentsply Sirona, Inc.		1,051		66,486
Brown-Forman Corp. — Class B		878		65,797
Hormel Foods Corp.		1,357		64,797
Quanta Services, Inc.		670		60,682
Lamb Weston Holdings, Inc.		704		56,785
Universal Health Services, Inc. — Class B		375		54,911
Henry Schein, Inc.^*		677		50,227
Molson Coors Beverage Co. — Class B^*		906		48,643
Robert Half International, Inc.		542		48,222
Campbell Soup Co.		977		44,541
Nielsen Holdings plc		1,725		42,556
DaVita, Inc.^*		337		40,585
Organon & Co.^*		1,217		36,826
Rollins, Inc.		1,066		36,457
Perrigo Company plc		642		29,436
Total Consumer, Non-cyclical				34,939,841
Communications - 16.0%
Amazon.com, Inc.^*		2,062		7,093,610
Facebook, Inc. — Class A^*		11,531		4,009,444
Alphabet, Inc. — Class A^*		1,447		3,533,270
Alphabet, Inc. — Class C^*		1,370		3,433,658
Walt Disney Co.^*		8,744		1,536,933
Comcast Corp. — Class A		22,064		1,258,089
Netflix, Inc.^*		2,133		1,126,672
Verizon Communications, Inc.		19,925		1,116,398
Cisco Systems, Inc.		20,282		1,074,946
AT&T, Inc.		34,360		988,881
Charter Communications, Inc. — Class A^*		663		478,321
Booking Holdings, Inc.^*		196		428,866
T-Mobile US, Inc.^*		2,820		408,420
Twitter, Inc.^*		3,841		264,299
eBay, Inc.		3,114		218,634
Motorola Solutions, Inc.		816		176,949
Corning, Inc.		3,729		152,516
ViacomCBS, Inc. — Class B		2,914		131,713
Etsy, Inc.^*		612		125,974
CDW Corp.		675		117,889
Expedia Group, Inc.^*		680		111,323
VeriSign, Inc.^*		477		108,608
Arista Networks, Inc.^*		264		95,650
Omnicom Group, Inc.		1,035		82,790
NortonLifeLock, Inc.		2,791		75,971
Lumen Technologies, Inc.		4,788		65,069
Interpublic Group of Companies, Inc.		1,893		61,503
Fox Corp. — Class A		1,573		58,406
F5 Networks, Inc.^*		286		53,385
DISH Network Corp. — Class A^*		1,194		49,909
News Corp. — Class A		1,882		48,499
Juniper Networks, Inc.		1,577		43,131
Discovery, Inc. — Class C^*		1,446		41,905
Fox Corp. — Class B		731		25,731
Discovery, Inc. — Class A^*,1		811		24,882
News Corp. — Class B		586		14,269
Total Communications				28,636,513
Financial - 14.9%
Berkshire Hathaway, Inc. — Class B^*		9,122		2,535,186
JPMorgan Chase & Co.		14,568		2,265,907
Visa, Inc. — Class A		8,142		1,903,762
Mastercard, Inc. — Class A		4,210		1,537,029
Bank of America Corp.		36,290		1,496,237
Wells Fargo & Co.		19,894		900,999
Citigroup, Inc.		9,948		703,821
Morgan Stanley		7,164		656,867
Goldman Sachs Group, Inc.		1,637		621,291
BlackRock, Inc. — Class A		683		597,605
American Tower Corp. — Class A REIT		2,188		591,066
Charles Schwab Corp.		7,218		525,543

S&P 500^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 97.5% (continued)
Financial - 14.9% (continued)
American Express Co.		3,131	$	517,335
Prologis, Inc. REIT		3,560		425,527
Crown Castle International Corp. REIT		2,080		405,808
PNC Financial Services Group, Inc.		2,045		390,104
U.S. Bancorp		6,523		371,615
CME Group, Inc. — Class A		1,728		367,511
Truist Financial Corp.		6,472		359,196
Equinix, Inc. REIT		430		345,118
Marsh & McLennan Companies, Inc.		2,447		344,244
Chubb Ltd.		2,163		343,787
Capital One Financial Corp.		2,173		336,141
Intercontinental Exchange, Inc.		2,708		321,440
Progressive Corp.		2,816		276,559
Aon plc — Class A		1,086		259,293
Public Storage REIT		733		220,406
T. Rowe Price Group, Inc.		1,090		215,787
MetLife, Inc.		3,581		214,323
Simon Property Group, Inc. REIT		1,581		206,289
Digital Realty Trust, Inc. REIT		1,355		203,873
Bank of New York Mellon Corp.		3,883		198,926
American International Group, Inc.		4,130		196,588
Prudential Financial, Inc.		1,896		194,283
Allstate Corp.		1,440		187,834
Travelers Companies, Inc.		1,210		181,149
Discover Financial Services		1,467		173,531
SBA Communications Corp. REIT		525		167,318
Welltower, Inc. REIT		2,009		166,948
Aflac, Inc.		3,042		163,234
First Republic Bank		847		158,533
SVB Financial Group^*		261		145,228
Willis Towers Watson plc		621		142,843
AvalonBay Communities, Inc. REIT		672		140,240
Ameriprise Financial, Inc.		558		138,875
CBRE Group, Inc. — Class A^*		1,615		138,454
Arthur J Gallagher & Co.		986		138,119
State Street Corp.		1,673		137,654
Fifth Third Bancorp		3,388		129,523
Equity Residential REIT		1,654		127,358
Synchrony Financial		2,602		126,249
Weyerhaeuser Co. REIT		3,606		124,119
Alexandria Real Estate Equities, Inc. REIT		660		120,080
Realty Income Corp. REIT		1,798		119,999
Northern Trust Corp.		1,001		115,736
Hartford Financial Services Group, Inc.		1,719		106,527
Extra Space Storage, Inc. REIT		643		105,336
Ventas, Inc. REIT		1,805		103,065
Huntington Bancshares, Inc.		7,101		101,331
Nasdaq, Inc.		552		97,042
KeyCorp		4,671		96,456
Citizens Financial Group, Inc.		2,050		94,034
Essex Property Trust, Inc. REIT		312		93,603
Regions Financial Corp.		4,625		93,333
Mid-America Apartment Communities, Inc. REIT		550		92,631
M&T Bank Corp.		619		89,947
Healthpeak Properties, Inc. REIT		2,592		86,288
Duke Realty Corp. REIT		1,805		85,467
Cincinnati Financial Corp.		721		84,083
Boston Properties, Inc. REIT		682		78,150
Principal Financial Group, Inc.		1,217		76,902
Raymond James Financial, Inc.		589		76,511
UDR, Inc. REIT		1,428		69,943
Cboe Global Markets, Inc.		513		61,073
Loews Corp.		1,077		58,858
Iron Mountain, Inc. REIT		1,389		58,782
Host Hotels & Resorts, Inc. REIT^*		3,398		58,072
Lincoln National Corp.		861		54,105
W R Berkley Corp.		674		50,166
Regency Centers Corp. REIT		760		48,693
Invesco Ltd.		1,821		48,675
Everest Re Group Ltd.		193		48,638
Comerica, Inc.		672		47,940
Assurant, Inc.		291		45,448
Western Union Co.		1,970		45,251
Kimco Realty Corp. REIT		2,086		43,493
Globe Life, Inc.		456		43,434
Franklin Resources, Inc.		1,311		41,939
Zions Bancorp North America		788		41,654
Federal Realty Investment Trust REIT		340		39,838
Vornado Realty Trust REIT		756		35,283
People's United Financial, Inc.		2,058		35,274
Unum Group		983		27,917
Total Financial				26,657,672
Consumer, Cyclical - 9.2%
Tesla, Inc.^*		3,709		2,521,007
Home Depot, Inc.		5,116		1,631,441
NIKE, Inc. — Class B		6,136		947,951
Walmart, Inc.		6,607		931,719
Costco Wholesale Corp.		2,128		841,986
McDonald's Corp.		3,591		829,485
Lowe's Companies, Inc.		3,402		659,886
Starbucks Corp.		5,670		633,963
Target Corp.		2,381		575,583
TJX Companies, Inc.		5,804		391,306
General Motors Co.^*		6,143		363,482
Ford Motor Co.^*		18,870		280,408
Dollar General Corp.		1,137		246,035
Ross Stores, Inc.		1,715		212,660
Chipotle Mexican Grill, Inc. — Class A^*		135		209,296
Aptiv plc^*		1,300		204,529
O'Reilly Automotive, Inc.^*		335		189,680
Walgreens Boots Alliance, Inc.		3,452		181,610
Marriott International, Inc. — Class A^*		1,285		175,428
Cummins, Inc.		704		171,642
Yum! Brands, Inc.		1,434		164,953
Hilton Worldwide Holdings, Inc.^*		1,340		161,631
AutoZone, Inc.^*		104		155,191
Southwest Airlines Co.^*		2,846		151,094
PACCAR, Inc.		1,670		149,048

S&P 500^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 97.5% (continued)
Consumer, Cyclical - 9.2% (continued)
Fastenal Co.		2,764	$	143,728
DR Horton, Inc.		1,579		142,694
Delta Air Lines, Inc.^*		3,078		133,154
Copart, Inc.^*		1,001		131,962
Lennar Corp. — Class A		1,327		131,837
VF Corp.		1,547		126,916
Best Buy Company, Inc.		1,073		123,373
Dollar Tree, Inc.^*		1,116		111,042
Caesars Entertainment, Inc.^*		1,004		104,165
Tractor Supply Co.		555		103,263
CarMax, Inc.^*		785		101,383
Carnival Corp.^*		3,842		101,275
WW Grainger, Inc.		211		92,418
Darden Restaurants, Inc.		630		91,974
Ulta Beauty, Inc.^*		263		90,937
Royal Caribbean Cruises Ltd.^*		1,053		89,800
Pool Corp.		193		88,521
Genuine Parts Co.		695		87,897
Domino's Pizza, Inc.		186		86,767
MGM Resorts International		1,959		83,551
Las Vegas Sands Corp.^*		1,579		83,198
United Airlines Holdings, Inc.^*		1,556		81,363
L Brands, Inc.		1,127		81,212
NVR, Inc.^*		16		79,573
PulteGroup, Inc.		1,273		69,468
LKQ Corp.^*		1,337		65,807
American Airlines Group, Inc.^*		3,087		65,475
Whirlpool Corp.		300		65,406
Advance Auto Parts, Inc.		314		64,414
Wynn Resorts Ltd.^*		507		62,006
Live Nation Entertainment, Inc.^*		695		60,875
Tapestry, Inc.^*		1,342		58,350
Hasbro, Inc.		615		58,130
BorgWarner, Inc.		1,153		55,967
Penn National Gaming, Inc.^*		715		54,691
Mohawk Industries, Inc.^*		281		54,005
Norwegian Cruise Line Holdings Ltd.^*,1		1,780		52,350
Newell Brands, Inc.		1,822		50,050
PVH Corp.^*		343		36,903
Alaska Air Group, Inc.^*		598		36,066
Gap, Inc.		999		33,616
Leggett & Platt, Inc.		641		33,210
Hanesbrands, Inc.		1,680		31,365
Ralph Lauren Corp. — Class A		232		27,332
Under Armour, Inc. — Class A^*		908		19,204
Under Armour, Inc. — Class C^*		945		17,549
Total Consumer, Cyclical				16,545,256
Industrial - 8.0%
Honeywell International, Inc.		3,342		733,068
United Parcel Service, Inc. — Class B		3,481		723,943
Union Pacific Corp.		3,196		702,896
Boeing Co.^*		2,646		633,876
Raytheon Technologies Corp.		7,292		622,080
Caterpillar, Inc.		2,636		573,673
General Electric Co.		42,248		568,658
3M Co.		2,789		553,979
Deere & Co.		1,500		529,065
Lockheed Martin Corp.		1,177		445,318
CSX Corp.		10,934		350,763
FedEx Corp.		1,175		350,538
Norfolk Southern Corp.		1,204		319,554
Illinois Tool Works, Inc.		1,383		309,184
Eaton Corporation plc		1,918		284,209
Emerson Electric Co.		2,885		277,652
Waste Management, Inc.		1,869		261,866
Northrop Grumman Corp.		720		261,670
Johnson Controls International plc		3,449		236,705
Agilent Technologies, Inc.		1,460		215,802
TE Connectivity Ltd.		1,589		214,849
L3Harris Technologies, Inc.		987		213,340
Trane Technologies plc		1,151		211,945
General Dynamics Corp.		1,102		207,462
Amphenol Corp. — Class A		2,876		196,747
Carrier Global Corp.		3,931		191,047
Parker-Hannifin Corp.		621		190,715
TransDigm Group, Inc.^*		264		170,885
Rockwell Automation, Inc.		559		159,885
Stanley Black & Decker, Inc.		777		159,277
Otis Worldwide Corp.		1,941		158,716
Mettler-Toledo International, Inc.^*		111		153,773
AMETEK, Inc.		1,111		148,319
Keysight Technologies, Inc.^*		886		136,807
Ball Corp.		1,579		127,930
Generac Holdings, Inc.^*		303		125,790
Kansas City Southern		438		124,116
Old Dominion Freight Line, Inc.		457		115,987
Fortive Corp.		1,628		113,537
Republic Services, Inc. — Class A		1,012		111,330
Vulcan Materials Co.		637		110,882
Martin Marietta Materials, Inc.		300		105,543
Dover Corp.		693		104,366
Garmin Ltd.		721		104,285
Xylem, Inc.		866		103,885
Expeditors International of Washington, Inc.		812		102,799
Waters Corp.^*		297		102,646
Trimble, Inc.^*		1,208		98,851
Teledyne Technologies, Inc.^*		224		93,818
Ingersoll Rand, Inc.^*		1,797		87,712
Amcor plc		7,420		85,033
Jacobs Engineering Group, Inc.		627		83,654
IDEX Corp.		365		80,318
Textron, Inc.		1,086		74,684
Masco Corp.		1,221		71,929
Westinghouse Air Brake Technologies Corp.		855		70,366
Westrock Co.		1,280		68,122
Fortune Brands Home & Security, Inc.		665		66,241
J.B. Hunt Transport Services, Inc.		401		65,343
Howmet Aerospace, Inc.^*		1,881		64,838
Packaging Corporation of America		457		61,887
Allegion plc		433		60,317
CH Robinson Worldwide, Inc.		640		59,949
Snap-on, Inc.		260		58,092

S&P 500^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 97.5% (continued)
Industrial - 8.0% (continued)
Pentair plc		800	$	53,992
A O Smith Corp.		647		46,623
Sealed Air Corp.		731		43,312
Huntington Ingalls Industries, Inc.		194		40,886
Total Industrial				14,357,329
Energy - 2.8%
Exxon Mobil Corp.		20,375		1,285,255
Chevron Corp.		9,300		974,082
ConocoPhillips		6,494		395,485
EOG Resources, Inc.		2,807		234,216
Schlumberger N.V.		6,730		215,427
Marathon Petroleum Corp.		3,066		185,248
Pioneer Natural Resources Co.		1,114		181,047
Phillips 66		2,107		180,823
Kinder Morgan, Inc.		9,371		170,834
Williams Companies, Inc.		5,846		155,211
Valero Energy Corp.		1,967		153,583
Occidental Petroleum Corp.		4,043		126,425
Enphase Energy, Inc.^*		653		119,910
ONEOK, Inc.		2,144		119,292
Hess Corp.		1,321		115,350
Halliburton Co.		4,282		99,000
Devon Energy Corp.		2,867		83,688
Diamondback Energy, Inc.		870		81,684
Baker Hughes Co.		3,500		80,045
Marathon Oil Corp.		3,793		51,661
APA Corp.		1,818		39,323
Cabot Oil & Gas Corp. — Class A		1,923		33,575
NOV, Inc.^*		1,880		28,802
Total Energy				5,109,966
Utilities - 2.4%
NextEra Energy, Inc.		9,439		691,690
Duke Energy Corp.		3,701		365,363
Southern Co.		5,093		308,178
Dominion Energy, Inc.		3,881		285,525
Exelon Corp.		4,703		208,390
American Electric Power Company, Inc.		2,405		203,439
Sempra Energy		1,516		200,840
Xcel Energy, Inc.		2,590		170,629
Public Service Enterprise Group, Inc.		2,430		145,168
WEC Energy Group, Inc.		1,517		134,937
American Water Works Company, Inc.		873		134,556
Eversource Energy		1,653		132,637
DTE Energy Co.		932		120,787
Consolidated Edison, Inc.		1,649		118,266
Edison International		1,826		105,579
PPL Corp.		3,702		103,545
Ameren Corp.		1,230		98,449
FirstEnergy Corp.		2,617		97,379
Entergy Corp.		966		96,310
AES Corp.		3,206		83,581
CMS Energy Corp.		1,392		82,239
CenterPoint Energy, Inc.		2,793		68,484
Alliant Energy Corp.		1,204		67,135
Evergy, Inc.		1,103		66,654
Atmos Energy Corp.		629		60,453
NRG Energy, Inc.		1,178		47,473
NiSource, Inc.		1,888		46,256
Pinnacle West Capital Corp.		543		44,510
Total Utilities				4,288,452
Basic Materials - 2.1%
Linde plc		2,503		723,617
Sherwin-Williams Co.		1,152		313,862
Air Products and Chemicals, Inc.		1,064		306,092
Freeport-McMoRan, Inc.		7,053		261,737
Ecolab, Inc.		1,197		246,546
Newmont Corp.		3,855		244,330
Dow, Inc.		3,594		227,428
DuPont de Nemours, Inc.		2,561		198,247
PPG Industries, Inc.		1,140		193,538
International Flavors & Fragrances, Inc.		1,198		178,981
Nucor Corp.		1,440		138,139
LyondellBasell Industries N.V. — Class A		1,239		127,456
International Paper Co.		1,885		115,569
Albemarle Corp.		562		94,675
Celanese Corp. — Class A		542		82,167
Eastman Chemical Co.		657		76,705
FMC Corp.		620		67,084
CF Industries Holdings, Inc.		1,032		53,097
Mosaic Co.		1,663		53,066
Total Basic Materials				3,702,336
Total Common Stocks
(Cost $124,567,937)				174,779,950

	Face Amount
U.S. TREASURY BILLS^†† - 0.0%
U.S. Treasury Bills
0.01% due 08/03/21²	$	23,000	22,999
Total U.S. Treasury Bills
(Cost $23,000)			22,999

REPURCHASE AGREEMENTS^††,3 - 1.1%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	1,123,068	1,123,068
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21	442,151	442,151
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21	433,481	433,481
Total Repurchase Agreements
(Cost $1,998,700)		1,998,700

S&P 500^® Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
SECURITIES LENDING COLLATERAL^†,4 - 0.0%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁵	57,571	$	57,571
Total Securities Lending Collateral
(Cost $57,571)			57,571
Total Investments - 98.6%
(Cost $126,647,208)			176,859,220
Other Assets & Liabilities, net - 1.4%			2,486,101
Total Net Assets - 100.0%		$	179,345,321

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements^††

Goldman Sachs International

S&P 500 Index

0.54% (1 Week USD LIBOR + 0.45%)

At Maturity

07/15/21

811

3,484,474

39,068

BNP Paribas

S&P 500 Index

0.64% (1 Month USD LIBOR + 0.55%)

At Maturity

07/15/21

202

868,574

17,451

Barclays Bank plc

S&P 500 Index

0.54% (1 Week USD LIBOR + 0.45%)

At Maturity

07/14/21

207,924

5,291

4,560,972

61,810

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Rate indicated is the effective yield at the time of purchase.
3	Repurchase Agreements — See Note 4.
4	Securities lending collateral — See Note 5.
5	Rate indicated is the 7-day yield as of June 30, 2021.

LIBOR — London Interbank Offered Rate

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	174,779,950	$	—	$	—	$	174,779,950
U.S. Treasury Bills		—		22,999		—		22,999
Repurchase Agreements		—		1,998,700		—		1,998,700
Securities Lending Collateral		57,571		—		—		57,571
Equity Index Swap Agreements**		—		61,810		—		61,810
Total Assets	$	174,837,521	$	2,083,509	$	—	$	176,921,030

This derivative is reported as unrealized appreciation/depreciation at period end.

S&P 500^® Pure Growth Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Technology - 36.7%
NVIDIA Corp.		2,730	$	2,184,273
Monolithic Power Systems, Inc.		4,734		1,767,912
Teradyne, Inc.		12,660		1,695,934
Fortinet, Inc.^*		6,872		1,636,842
ServiceNow, Inc.^*		2,910		1,599,190
Adobe, Inc.^*		2,490		1,458,244
KLA Corp.		4,195		1,360,061
Lam Research Corp.		2,030		1,320,921
Autodesk, Inc.^*		4,391		1,281,733
Advanced Micro Devices, Inc.^*		13,561		1,273,785
Apple, Inc.		9,200		1,260,032
MSCI, Inc. — Class A		2,269		1,209,558
salesforce.com, Inc.^*		4,817		1,176,649
Applied Materials, Inc.		7,830		1,114,992
Microsoft Corp.		4,030		1,091,727
Cadence Design Systems, Inc.^*		7,760		1,061,723
Synopsys, Inc.^*		3,710		1,023,181
Paycom Software, Inc.^*		2,719		988,275
Intuit, Inc.		1,977		969,066
QUALCOMM, Inc.		6,770		967,636
Take-Two Interactive Software, Inc.^*		5,464		967,237
Qorvo, Inc.^*		4,687		917,012
ANSYS, Inc.^*		2,006		696,202
PTC, Inc.^*		4,800		678,048
Xilinx, Inc.		4,610		666,790
Tyler Technologies, Inc.^*		1,388		627,890
Total Technology				30,994,913
Consumer, Non-cyclical - 27.7%
PayPal Holdings, Inc.^*		7,379		2,150,831
Align Technology, Inc.^*		2,895		1,768,845
IDEXX Laboratories, Inc.^*		2,490		1,572,559
West Pharmaceutical Services, Inc.		3,970		1,425,627
United Rentals, Inc.^*		4,324		1,379,399
DexCom, Inc.^*		3,200		1,366,400
DaVita, Inc.^*		10,700		1,288,601
Charles River Laboratories International, Inc.^*		3,480		1,287,321
Bio-Rad Laboratories, Inc. — Class A^*		1,880		1,211,265
Regeneron Pharmaceuticals, Inc.^*		2,130		1,189,690
Catalent, Inc.^*		10,040		1,085,525
ABIOMED, Inc.^*		3,260		1,017,479
Thermo Fisher Scientific, Inc.		1,781		898,461
PerkinElmer, Inc.		5,600		864,696
ResMed, Inc.		3,310		815,981
Monster Beverage Corp.^*		8,510		777,389
MarketAxess Holdings, Inc.		1,618		750,089
Vertex Pharmaceuticals, Inc.^*		3,507		707,117
Rollins, Inc.		20,640		705,888
S&P Global, Inc.		1,659		680,936
Verisk Analytics, Inc. — Class A		2,980		520,666
Total Consumer, Non-cyclical				23,464,765
Communications - 13.5%
Etsy, Inc.^*		9,990		2,056,342
Amazon.com, Inc.^*		460		1,582,473
Netflix, Inc.^*		2,478		1,308,904
Facebook, Inc. — Class A^*		3,763		1,308,433
eBay, Inc.		17,260		1,211,825
Arista Networks, Inc.^*		2,475		896,717
Twitter, Inc.^*		12,860		884,897
Charter Communications, Inc. — Class A^*		1,200		865,740
Alphabet, Inc. — Class A^*		273		666,609
Alphabet, Inc. — Class C^*		261		654,149
Total Communications				11,436,089
Consumer, Cyclical - 9.8%
Tesla, Inc.^*		2,600		1,767,220
Tractor Supply Co.		7,110		1,322,887
Pool Corp.		2,870		1,316,354
Domino's Pizza, Inc.		2,637		1,230,134
Chipotle Mexican Grill, Inc. — Class A^*		625		968,962
Dollar General Corp.		4,202		909,271
Copart, Inc.^*		5,856		771,996
Total Consumer, Cyclical				8,286,824
Industrial - 5.3%
Generac Holdings, Inc.^*		4,410		1,830,811
Old Dominion Freight Line, Inc.		3,759		954,034
Trimble, Inc.^*		11,090		907,495
Mettler-Toledo International, Inc.^*		580		803,497
Total Industrial				4,495,837
Financial - 2.3%
SVB Financial Group^*		3,490		1,941,941
Basic Materials - 2.3%
Albemarle Corp.		6,630		1,116,890
FMC Corp.		7,550		816,910
Total Basic Materials				1,933,800
Energy - 1.9%
Enphase Energy, Inc.^*		8,751		1,606,946
Total Common Stocks
(Cost $67,768,757)				84,161,115

	Face Amount
REPURCHASE AGREEMENTS^††,1 - 0.6%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	264,162		264,162
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		104,001		104,001
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		101,961		101,961
Total Repurchase Agreements
(Cost $470,124)				470,124
Total Investments - 100.1%
(Cost $68,238,881)			$	84,631,239
Other Assets & Liabilities, net - (0.1)%				(98,539	)
Total Net Assets - 100.0%			$	84,532,700

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.

See Sector Classification in Other Information section.

S&P 500^® Pure Growth Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	84,161,115	$	—	$	—	$	84,161,115
Repurchase Agreements		—		470,124		—		470,124
Total Assets	$	84,161,115	$	470,124	$	—	$	84,631,239

S&P 500^® Pure Value Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Financial - 44.3%
Berkshire Hathaway, Inc. — Class B^*		2,763	$	767,893
Unum Group		26,572		754,645
Lincoln National Corp.		10,209		641,534
Prudential Financial, Inc.		6,135		628,653
MetLife, Inc.		10,119		605,622
Invesco Ltd.		20,402		545,346
Hartford Financial Services Group, Inc.		8,279		513,050
Principal Financial Group, Inc.		7,512		474,683
Capital One Financial Corp.		2,857		441,949
Wells Fargo & Co.		9,618		435,599
Allstate Corp.		3,048		397,581
People's United Financial, Inc.		22,734		389,661
Citigroup, Inc.		5,466		386,719
Citizens Financial Group, Inc.		8,129		372,877
Loews Corp.		6,760		369,434
Fifth Third Bancorp		9,533		364,447
Bank of New York Mellon Corp.		7,023		359,788
Goldman Sachs Group, Inc.		947		359,415
American International Group, Inc.		7,511		357,524
Everest Re Group Ltd.		1,382		348,278
Aflac, Inc.		6,355		341,009
Assurant, Inc.		2,112		329,852
Comerica, Inc.		4,593		327,665
Zions Bancorp North America		5,707		301,672
Bank of America Corp.		7,178		295,949
KeyCorp		14,231		293,870
Franklin Resources, Inc.		9,012		288,294
Regions Financial Corp.		14,206		286,677
Travelers Companies, Inc.		1,903		284,898
Morgan Stanley		2,899		265,809
Cincinnati Financial Corp.		2,203		256,914
M&T Bank Corp.		1,699		246,882
State Street Corp.		2,993		246,264
Truist Financial Corp.		4,126		228,993
Kimco Realty Corp. REIT		10,589		220,781
PNC Financial Services Group, Inc.		975		185,991
Globe Life, Inc.		1,936		184,404
Huntington Bancshares, Inc.		12,321		175,821
Chubb Ltd.		1,098		174,516
Raymond James Financial, Inc.		1,336		173,546
CBRE Group, Inc. — Class A^*		1,923		164,859
Synchrony Financial		3,182		154,391
U.S. Bancorp		2,582		147,096
JPMorgan Chase & Co.		820		127,543
Total Financial				15,218,394
Consumer, Non-cyclical - 16.5%
CVS Health Corp.		6,584		549,369
Centene Corp.^*		7,131		520,064
Archer-Daniels-Midland Co.		8,053		488,012
Kroger Co.		11,990		459,337
Molson Coors Beverage Co. — Class B^*		7,863		422,164
Cigna Corp.		1,651		391,402
Tyson Foods, Inc. — Class A		4,942		364,522
Viatris, Inc.		23,468		335,358
McKesson Corp.		1,735		331,801
Kraft Heinz Co.		7,771		316,901
Cardinal Health, Inc.		4,773		272,491
Anthem, Inc.		679		259,242
Universal Health Services, Inc. — Class B		1,358		198,852
Perrigo Company plc		4,025		184,546
Corteva, Inc.		3,923		173,985
J M Smucker Co.		1,189		154,059
Henry Schein, Inc.^*		1,689		125,307
AmerisourceBergen Corp. — Class A		1,087		124,451
Total Consumer, Non-cyclical				5,671,863
Consumer, Cyclical - 11.4%
Ford Motor Co.^*		49,446		734,768
Walgreens Boots Alliance, Inc.		9,443		496,796
General Motors Co.^*		7,624		451,112
Mohawk Industries, Inc.^*		2,098		403,215
Lennar Corp. — Class A		3,210		318,914
LKQ Corp.^*		4,505		221,736
Whirlpool Corp.		989		215,622
BorgWarner, Inc.		4,075		197,800
Hanesbrands, Inc.		9,999		186,681
CarMax, Inc.^*		1,249		161,308
PVH Corp.^*		1,442		155,145
Gap, Inc.		4,189		140,960
Advance Auto Parts, Inc.		671		137,649
Walmart, Inc.		650		91,663
Total Consumer, Cyclical				3,913,369
Energy - 8.0%
Valero Energy Corp.		7,794		608,555
Exxon Mobil Corp.		7,865		496,124
Phillips 66		5,152		442,145
Marathon Petroleum Corp.		4,862		293,762
Marathon Oil Corp.		20,822		283,596
Kinder Morgan, Inc.		11,005		200,621
Pioneer Natural Resources Co.		900		146,268
EOG Resources, Inc.		1,722		143,684
Chevron Corp.		1,191		124,745
Total Energy				2,739,500
Communications - 6.4%
Lumen Technologies, Inc.		49,568		673,629
ViacomCBS, Inc. — Class B		6,484		293,077
AT&T, Inc.		7,347		211,447
DISH Network Corp. — Class A^*		5,016		209,669
Juniper Networks, Inc.		6,115		167,245
Fox Corp. — Class A		3,900		144,807
Interpublic Group of Companies, Inc.		4,129		134,151
Discovery, Inc. — Class C^*		4,120		119,398
News Corp. — Class A		4,157		107,126
Discovery, Inc. — Class A^*,1		2,139		65,624
Fox Corp. — Class B		1,794		63,149
News Corp. — Class B		1,287		31,338
Total Communications				2,220,660
Industrial - 4.6%
Westrock Co.		6,797		361,736
Textron, Inc.		3,668		252,248
Huntington Ingalls Industries, Inc.		980		206,535
Howmet Aerospace, Inc.^*		5,728		197,444

S&P 500^® Pure Value Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5% (continued)
Industrial - 4.6% (continued)
Raytheon Technologies Corp.		2,005	$	171,047
Westinghouse Air Brake Technologies Corp.		1,786		146,988
General Dynamics Corp.		672		126,511
General Electric Co.		8,550		115,083
Total Industrial				1,577,592
Technology - 3.4%
Hewlett Packard Enterprise Co.		34,747		506,611
Western Digital Corp.^*		4,119		293,149
HP, Inc.		7,079		213,715
DXC Technology Co.^*		4,111		160,083
Total Technology				1,173,558
Utilities - 2.7%
Exelon Corp.		5,447		241,356
Consolidated Edison, Inc.		1,876		134,547
FirstEnergy Corp.		3,473		129,230
Evergy, Inc.		2,099		126,843
Pinnacle West Capital Corp.		1,325		108,610
PPL Corp.		3,542		99,070
Edison International		1,474		85,227
Total Utilities				924,883
Basic Materials - 2.2%
Nucor Corp.		3,705		355,421
Mosaic Co.		8,322		265,555
International Paper Co.		2,134		130,835
Total Basic Materials				751,811
Total Common Stocks
(Cost $26,806,237)				34,191,630

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.4%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	72,811	72,811
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		28,666	28,666
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		28,104	28,104
Total Repurchase Agreements
(Cost $129,581)			129,581

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 0.2%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		58,776		58,776
Total Securities Lending Collateral
(Cost $58,776)				58,776
Total Investments - 100.1%
(Cost $26,994,594)			$	34,379,987
Other Assets & Liabilities, net - (0.1)%				(20,961	)
Total Net Assets - 100.0%			$	34,359,026

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	34,191,630	$	—	$	—	$	34,191,630
Repurchase Agreements		—		129,581		—		129,581
Securities Lending Collateral		58,776		—		—		58,776
Total Assets	$	34,250,406	$	129,581	$	—	$	34,379,987

S&P MidCap 400^® Pure Growth Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.7%
Consumer, Non-cyclical - 35.0%
STAAR Surgical Co.^*		14,290	$	2,179,225
Medpace Holdings, Inc.^*		8,140		1,437,768
Repligen Corp.^*		7,160		1,429,279
Boston Beer Company, Inc. — Class A^*		1,380		1,408,704
Syneos Health, Inc.^*		12,530		1,121,310
R1 RCM, Inc.^*		49,470		1,100,213
Paylocity Holding Corp.^*		5,550		1,058,940
Halozyme Therapeutics, Inc.^*		20,940		950,885
Darling Ingredients, Inc.^*		14,070		949,725
Quidel Corp.^*		7,250		928,870
Penumbra, Inc.^*		3,080		844,105
HealthEquity, Inc.^*		9,990		803,995
Bio-Techne Corp.		1,680		756,437
Emergent BioSolutions, Inc.^*		11,990		755,250
Amedisys, Inc.^*		2,750		673,557
ASGN, Inc.^*		6,920		670,756
Exelixis, Inc.^*		36,120		658,107
PRA Health Sciences, Inc.^*		3,881		641,180
Helen of Troy Ltd.^*		2,800		638,736
Masimo Corp.^*		2,619		634,976
FTI Consulting, Inc.^*		3,980		543,708
Arrowhead Pharmaceuticals, Inc.^*		6,410		530,876
Neurocrine Biosciences, Inc.^*		5,080		494,385
Insperity, Inc.		5,030		454,561
LHC Group, Inc.^*		2,240		448,582
Jazz Pharmaceuticals plc^*		2,220		394,361
Chemed Corp.		641		304,155
Total Consumer, Non-cyclical				22,812,646
Consumer, Cyclical - 23.6%
RH^*		2,840		1,928,360
YETI Holdings, Inc.^*		14,830		1,361,691
Wingstop, Inc.		8,130		1,281,532
Scotts Miracle-Gro Co. — Class A		6,350		1,218,692
Fox Factory Holding Corp.^*		7,820		1,217,261
Lithia Motors, Inc. — Class A		3,400		1,168,376
Crocs, Inc.^*		9,810		1,143,061
Williams-Sonoma, Inc.		7,000		1,117,550
Deckers Outdoor Corp.^*		2,540		975,538
Ollie's Bargain Outlet Holdings, Inc.^*		10,250		862,332
Churchill Downs, Inc.		4,231		838,838
Five Below, Inc.^*		3,670		709,301
Tempur Sealy International, Inc.		14,050		550,620
Texas Roadhouse, Inc. — Class A		3,730		358,826
Mattel, Inc.^*		17,650		354,765
Jack in the Box, Inc.		2,750		306,460
Total Consumer, Cyclical				15,393,203
Industrial - 14.8%
Axon Enterprise, Inc.^*		8,290		1,465,672
Trex Company, Inc.^*		12,860		1,314,421
II-VI, Inc.^*		17,300		1,255,807
TopBuild Corp.^*		5,740		1,135,257
Knight-Swift Transportation Holdings, Inc.		17,300		786,458
Timken Co.		7,030		566,548
Simpson Manufacturing Company, Inc.		4,960		547,782
Tetra Tech, Inc.		3,480		424,699
Toro Co.		3,720		408,753
Graco, Inc.		5,240		396,668
Cognex Corp.		4,600		386,630
Mercury Systems, Inc.^*		5,220		345,982
Universal Display Corp.		1,420		315,709
Lincoln Electric Holdings, Inc.		2,390		314,787
Total Industrial				9,665,173
Technology - 8.5%
Brooks Automation, Inc.		15,400		1,467,312
Sailpoint Technologies Holdings, Inc.^*		16,030		818,652
CMC Materials, Inc.		4,740		714,508
Lattice Semiconductor Corp.^*		11,560		649,441
Fair Isaac Corp.^*		1,171		588,638
Qualys, Inc.^*		5,120		515,533
Lumentum Holdings, Inc.^*		5,590		458,548
MKS Instruments, Inc.		1,990		354,120
Total Technology				5,566,752
Financial - 8.2%
SLM Corp.		71,610		1,499,513
Brighthouse Financial, Inc.^*		32,620		1,485,515
Kinsale Capital Group, Inc.		5,970		983,677
Brown & Brown, Inc.		10,000		531,400
Primerica, Inc.		3,081		471,824
Interactive Brokers Group, Inc. — Class A		5,960		391,751
Total Financial				5,363,680
Energy - 6.8%
SolarEdge Technologies, Inc.^*		4,750		1,312,757
Sunrun, Inc.^*		18,010		1,004,598
Antero Midstream Corp.		86,810		901,956
First Solar, Inc.^*		8,900		805,539
CNX Resources Corp.^*		30,820		421,001
Total Energy				4,445,851
Communications - 1.7%
Cable One, Inc.		266		508,807
FactSet Research Systems, Inc.		1,050		352,391
New York Times Co. — Class A		4,900		213,395
Total Communications				1,074,593
Basic Materials - 1.1%
Cleveland-Cliffs, Inc.^*,1		32,470		700,053
Total Common Stocks
(Cost $46,488,583)				65,021,951

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.5%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	195,239	195,239
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		76,866	76,866
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		75,358	75,358
Total Repurchase Agreements
(Cost $347,463)			347,463

S&P MidCap 400^® Pure Growth Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
SECURITIES LENDING COLLATERAL^†,3 - 0.8%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴	$	512,947	$	512,947
Total Securities Lending Collateral
(Cost $512,947)			$	512,947
Total Investments - 101.0%
(Cost $47,348,993)			$	65,882,361
Other Assets & Liabilities, net - (1.0)%				(639,883	)
Total Net Assets - 100.0%			$	65,242,478

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	65,021,951	$	—	$	—	$	65,021,951
Repurchase Agreements		—		347,463		—		347,463
Securities Lending Collateral		512,947		—		—		512,947
Total Assets	$	65,534,898	$	347,463	$	—	$	65,882,361

S&P MidCap 400^® Pure Value Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Financial - 38.8%
Navient Corp.		137,668	$	2,661,122
Jefferies Financial Group, Inc.		59,321		2,028,778
Reinsurance Group of America, Inc. — Class A		16,412		1,870,968
Old Republic International Corp.		71,317		1,776,506
Mercury General Corp.		25,162		1,634,272
CNO Financial Group, Inc.		68,035		1,606,987
Associated Banc-Corp.		68,474		1,402,347
Macerich Co. REIT		75,300		1,374,225
Sterling Bancorp		55,259		1,369,871
FNB Corp.		110,848		1,366,756
First American Financial Corp.		21,910		1,366,088
Jones Lang LaSalle, Inc.^*		6,640		1,297,854
Valley National Bancorp		90,788		1,219,283
Wintrust Financial Corp.		16,016		1,211,290
SL Green Realty Corp. REIT		14,620		1,169,600
First Horizon Corp.		65,606		1,133,672
Fulton Financial Corp.		71,620		1,130,163
Pinnacle Financial Partners, Inc.		12,176		1,075,019
Alleghany Corp.^*		1,610		1,073,983
Bank OZK		25,206		1,062,685
Washington Federal, Inc.		33,200		1,055,096
New York Community Bancorp, Inc.		93,490		1,030,260
Hancock Whitney Corp.		22,672		1,007,544
Hanover Insurance Group, Inc.		7,290		988,816
Trustmark Corp.		31,520		970,816
American Financial Group, Inc.		7,680		957,850
Kemper Corp.		12,545		927,075
Cathay General Bancorp		23,390		920,630
United Bankshares, Inc.		24,830		906,295
MGIC Investment Corp.		65,920		896,512
Synovus Financial Corp.		19,980		876,722
Alliance Data Systems Corp.		8,248		859,359
International Bancshares Corp.		19,120		821,013
BancorpSouth Bank		25,690		727,798
Prosperity Bancshares, Inc.		9,730		698,614
Webster Financial Corp.		12,830		684,352
East West Bancorp, Inc.		9,400		673,886
Pebblebrook Hotel Trust REIT		27,106		638,346
UMB Financial Corp.		6,660		619,780
CIT Group, Inc.		11,500		593,285
Selective Insurance Group, Inc.		6,980		566,427
Janus Henderson Group plc		13,160		510,740
Texas Capital Bancshares, Inc.^*		7,612		483,286
Sabra Health Care REIT, Inc.		26,080		474,656
Cousins Properties, Inc. REIT		12,720		467,842
Total Financial				48,188,469
Consumer, Cyclical - 21.1%
Kohl's Corp.		41,739		2,300,236
World Fuel Services Corp.		70,157		2,226,082
AutoNation, Inc.^*		23,473		2,225,475
Foot Locker, Inc.		30,449		1,876,572
Dick's Sporting Goods, Inc.		18,139		1,817,346
Dana, Inc.		76,037		1,806,639
Taylor Morrison Home Corp. — Class A^*		68,291		1,804,248
Univar Solutions, Inc.^*		72,042		1,756,384
Tri Pointe Homes, Inc.^*		81,742		1,751,731
KB Home		33,820		1,377,151
Murphy USA, Inc.		9,202		1,227,271
Goodyear Tire & Rubber Co.^*		63,587		1,090,517
BJ's Wholesale Club Holdings, Inc.^*		22,728		1,081,398
Lear Corp.		5,519		967,370
Thor Industries, Inc.		7,941		897,333
Urban Outfitters, Inc.^*		18,836		776,420
Adient plc^*		16,947		766,005
KAR Auction Services, Inc.^*		27,115		475,868
Total Consumer, Cyclical				26,224,046
Industrial - 14.9%
Avnet, Inc.		65,249		2,615,180
SYNNEX Corp.		17,974		2,188,514
Arrow Electronics, Inc.^*		17,252		1,963,795
Ryder System, Inc.		20,735		1,541,233
Jabil, Inc.		26,290		1,527,975
MasTec, Inc.^*		11,460		1,215,906
Greif, Inc. — Class A		19,472		1,179,030
EMCOR Group, Inc.		8,960		1,103,783
Oshkosh Corp.		7,230		901,147
MDU Resources Group, Inc.		27,300		855,582
AECOM^*		12,182		771,364
Dycom Industries, Inc.^*		8,662		645,579
Kirby Corp.^*		9,130		553,643
Colfax Corp.^*		11,690		535,519
Trinity Industries, Inc.		18,362		493,754
GATX Corp.		4,590		406,077
Total Industrial				18,498,081
Consumer, Non-cyclical - 9.1%
Graham Holdings Co. — Class B		3,510		2,224,989
ManpowerGroup, Inc.		14,450		1,718,249
Sprouts Farmers Market, Inc.^*		61,934		1,539,060
Pilgrim's Pride Corp.^*		67,090		1,488,056
Tenet Healthcare Corp.^*		18,621		1,247,421
TreeHouse Foods, Inc.^*		26,138		1,163,664
Adtalem Global Education, Inc.^*		25,378		904,472
Ingredion, Inc.		7,200		651,600
Strategic Education, Inc.		4,380		333,143
Total Consumer, Non-cyclical				11,270,654
Basic Materials - 4.8%
Commercial Metals Co.		82,929		2,547,579
Steel Dynamics, Inc.		16,690		994,724
Reliance Steel & Aluminum Co.		6,230		940,107
United States Steel Corp.		32,499		779,976
Minerals Technologies, Inc.		8,124		639,115
Total Basic Materials				5,901,501
Technology - 3.8%
Xerox Holdings Corp.		90,590		2,127,959
NCR Corp.^*		24,710		1,127,023
NetScout Systems, Inc.^*		29,756		849,236
KBR, Inc.		15,900		606,585
Total Technology				4,710,803
Communications - 3.3%
Telephone & Data Systems, Inc.		121,796		2,759,897
Viasat, Inc.^*		25,990		1,295,342
Total Communications				4,055,239
Energy - 2.3%
HollyFrontier Corp.		84,150		2,768,535

S&P MidCap 400^® Pure Value Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5% (continued)
Utilities - 1.4%
Southwest Gas Holdings, Inc.		10,200	$	675,138
UGI Corp.		13,330		617,312
ALLETE, Inc.		6,760		473,065
Total Utilities				1,765,515
Total Common Stocks
(Cost $99,032,447)				123,382,843

	Face Amount		Value
REPURCHASE AGREEMENTS^††,1 - 0.6%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	447,957	$	447,957
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		176,361		176,361
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		172,902		172,902
Total Repurchase Agreements
(Cost $797,220)				797,220
Total Investments - 100.1%
(Cost $99,829,667)			$	124,180,063
Other Assets & Liabilities, net - (0.1)%				(64,941	)
Total Net Assets - 100.0%			$	124,115,122

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	123,382,843	$	—	$	—	$	123,382,843
Repurchase Agreements		—		797,220		—		797,220
Total Assets	$	123,382,843	$	797,220	$	—	$	124,180,063

S&P SmallCap 600^® Pure Growth Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.2%
Consumer, Non-cyclical - 30.5%
Fulgent Genetics, Inc.^*,1		6,895	$	635,926
Celsius Holdings, Inc.^*		6,370		484,693
Community Health Systems, Inc.^*		30,293		467,724
Medifast, Inc.		1,607		454,749
Alarm.com Holdings, Inc.^*		3,658		309,833
Joint Corp.^*		3,660		307,147
Meridian Bioscience, Inc.^*		12,253		271,772
Corcept Therapeutics, Inc.^*		11,954		262,988
Zynex, Inc.^*,1		15,912		247,113
Rent-A-Center, Inc.		4,342		230,430
Coherus Biosciences, Inc.^*		16,640		230,131
Collegium Pharmaceutical, Inc.^*		9,494		224,438
Avanos Medical, Inc.^*		6,150		223,675
Merit Medical Systems, Inc.^*		3,413		220,685
Supernus Pharmaceuticals, Inc.^*		6,945		213,837
Innoviva, Inc.^*		15,906		213,299
National Beverage Corp.		4,379		206,820
B&G Foods, Inc.¹		6,260		205,328
Ensign Group, Inc.		2,334		202,288
NeoGenomics, Inc.^*		4,339		195,993
Green Dot Corp. — Class A^*		4,159		194,849
Pennant Group, Inc.^*		4,579		187,281
ModivCare, Inc.^*		1,084		184,356
Pacira BioSciences, Inc.^*		3,009		182,586
Vericel Corp.^*		3,467		182,018
Arlo Technologies, Inc.^*		19,803		134,066
Xencor, Inc.^*		3,761		129,717
REGENXBIO, Inc.^*		3,157		122,649
Luminex Corp.		3,190		117,392
Omnicell, Inc.^*		772		116,919
Cytokinetics, Inc.^*,1		4,974		98,436
EVERTEC, Inc.		2,151		93,891
LeMaitre Vascular, Inc.		1,531		93,422
Heska Corp.^*		385		88,446
Addus HomeCare Corp.^*		926		80,784
WD-40 Co.		294		75,349
Tactile Systems Technology, Inc.^*		1,433		74,516
Forrester Research, Inc.^*		1,582		72,456
Total Consumer, Non-cyclical				8,038,002
Consumer, Cyclical - 18.0%
Vista Outdoor, Inc.^*		13,887		642,690
MarineMax, Inc.^*		10,173		495,832
Big Lots, Inc.		7,256		478,969
Hibbett, Inc.		5,249		470,468
Century Communities, Inc.		6,120		407,225
LGI Homes, Inc.^*		2,281		369,385
iRobot Corp.^*		3,849		359,458
Sleep Number Corp.^*		2,921		321,164
Installed Building Products, Inc.		2,159		264,175
Meritage Homes Corp.^*		2,109		198,415
Lumber Liquidators Holdings, Inc.^*		7,458		157,364
Dine Brands Global, Inc.^*		1,720		153,510
PetMed Express, Inc.¹		3,338		106,315
LCI Industries		711		93,440
Dorman Products, Inc.^*		870		90,193
Shake Shack, Inc. — Class A^*		814		87,114
Tupperware Brands Corp.^*		2,408		57,190
Total Consumer, Cyclical				4,752,907
Financial - 16.9%
Mr Cooper Group, Inc.^*		15,257		504,396
Innovative Industrial Properties, Inc. REIT		2,065		394,456
St. Joe Co.		8,010		357,326
Trupanion, Inc.^*		3,029		348,638
Safehold, Inc. REIT¹		3,935		308,898
Brightsphere Investment Group, Inc.		11,705		274,248
StoneX Group, Inc.^*		4,504		273,258
HCI Group, Inc.¹		2,433		241,913
Virtus Investment Partners, Inc.		853		236,938
Axos Financial, Inc.^*		4,459		206,853
Palomar Holdings, Inc.^*		2,669		201,402
Triumph Bancorp, Inc.^*		2,644		196,317
ServisFirst Bancshares, Inc.		2,695		183,206
Essential Properties Realty Trust, Inc. REIT		5,871		158,752
Walker & Dunlop, Inc.		1,492		155,735
eHealth, Inc.^*		1,972		115,165
PRA Group, Inc.^*		2,923		112,448
NMI Holdings, Inc. — Class A^*		4,533		101,902
Community Healthcare Trust, Inc. REIT		1,746		82,865
Total Financial				4,454,716
Technology - 11.8%
MicroStrategy, Inc. — Class A^*		618		410,661
SPS Commerce, Inc.^*		2,342		233,849
Simulations Plus, Inc.		4,055		222,660
TTEC Holdings, Inc.		2,128		219,375
Onto Innovation, Inc.^*		2,614		190,927
Ultra Clean Holdings, Inc.^*		3,550		190,706
LivePerson, Inc.^*		2,659		168,155
FormFactor, Inc.^*		4,218		153,788
Agilysys, Inc.^*		2,561		145,644
Power Integrations, Inc.		1,753		143,851
Diodes, Inc.^*		1,716		136,886
Ebix, Inc.		3,980		134,922
CEVA, Inc.^*		2,793		132,109
Allscripts Healthcare Solutions, Inc.^*		6,995		129,477
ExlService Holdings, Inc.^*		1,142		121,349
8x8, Inc.^*		3,776		104,822
Tabula Rasa HealthCare, Inc.^*		1,973		98,650
Cohu, Inc.^*		2,619		96,353
OneSpan, Inc.^*		3,094		79,021
Total Technology				3,113,205
Industrial - 11.5%
Chart Industries, Inc.^*		2,125		310,930
Vicor Corp.^*		2,440		258,006
Advanced Energy Industries, Inc.		2,264		255,175
Comfort Systems USA, Inc.		3,174		250,079
Saia, Inc.^*		1,176		246,360
AeroVironment, Inc.^*		1,904		190,686
Patrick Industries, Inc.		2,538		185,274
PGT Innovations, Inc.^*		7,414		172,227
Matson, Inc.		2,071		132,544
AAON, Inc.		2,087		130,625

S&P SmallCap 600^® Pure Growth Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.2% (continued)
Industrial - 11.5% (continued)
Forward Air Corp.		1,284	$	115,239
Alamo Group, Inc.		745		113,747
Exponent, Inc.		1,161		103,573
Federal Signal Corp.		2,574		103,552
Gibraltar Industries, Inc.^*		1,313		100,195
Marten Transport Ltd.		5,973		98,495
Proto Labs, Inc.^*		1,002		91,984
Franklin Electric Company, Inc.		1,063		85,699
Badger Meter, Inc.		860		84,383
Total Industrial				3,028,773
Communications - 5.7%
TechTarget, Inc.^*		4,407		341,498
Stamps.com, Inc.^*		1,411		282,609
Shutterstock, Inc.		2,376		233,252
Perficient, Inc.^*		1,937		155,774
Vonage Holdings Corp.^*		10,136		146,060
Cincinnati Bell, Inc.^*		8,384		129,281
QuinStreet, Inc.^*		6,325		117,518
Viavi Solutions, Inc.^*		4,874		86,075
Total Communications				1,492,067
Energy - 3.6%
Bonanza Creek Energy, Inc.		10,535		495,883
Renewable Energy Group, Inc.^*		5,863		365,499
DMC Global, Inc.^*		1,730		97,243
Total Energy				958,625
Basic Materials - 1.2%
Quaker Chemical Corp.		712		168,880
Livent Corp.^*		8,034		155,538
Total Basic Materials				324,418
Total Common Stocks
(Cost $22,993,085)				26,162,713

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.8%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	116,128	116,128
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		45,719	45,719
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		44,823	44,823
Total Repurchase Agreements
(Cost $206,670)			206,670

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 4.3%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		1,133,216		1,133,216
Total Securities Lending Collateral
(Cost $1,133,216)				1,133,216
Total Investments - 104.3%
(Cost $24,332,971)			$	27,502,599
Other Assets & Liabilities, net - (4.3)%				(1,129,620	)
Total Net Assets - 100.0%			$	26,372,979

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	26,162,713	$	—	$	—	$	26,162,713
Repurchase Agreements		—		206,670		—		206,670
Securities Lending Collateral		1,133,216		—		—		1,133,216
Total Assets	$	27,295,929	$	206,670	$	—	$	27,502,599

S&P SmallCap 600^® Pure Value Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.6%
Financial - 24.0%
Genworth Financial, Inc. — Class A^*		311,996	$	1,216,784
Customers Bancorp, Inc.^*		19,993		779,527
Realogy Holdings Corp.^*		37,109		676,126
EZCORP, Inc. — Class A^*		102,061		615,428
Boston Private Financial Holdings, Inc.		39,362		580,590
Stewart Information Services Corp.		10,149		575,347
Hanmi Financial Corp.		29,475		561,793
American Equity Investment Life Holding Co.		16,188		523,196
Dime Community Bancshares, Inc.		15,418		518,353
Encore Capital Group, Inc.^*		10,903		516,693
Employers Holdings, Inc.		11,966		512,145
Universal Insurance Holdings, Inc.		35,986		499,486
Investors Bancorp, Inc.		32,091		457,618
Enova International, Inc.^*		13,102		448,219
Assured Guaranty Ltd.		9,131		433,540
United Insurance Holdings Corp.		74,294		423,476
Simmons First National Corp. — Class A		13,940		409,000
Service Properties Trust REIT		31,480		396,648
United Fire Group, Inc.		14,278		395,929
RPT Realty REIT		30,447		395,202
First Financial Bancorp		16,671		393,936
Central Pacific Financial Corp.		14,973		390,196
Hope Bancorp, Inc.		27,514		390,149
Office Properties Income Trust REIT		13,296		389,706
SiriusPoint Ltd.^*		37,962		382,277
GEO Group, Inc. REIT¹		53,203		378,805
First Midwest Bancorp, Inc.		19,014		377,048
Provident Financial Services, Inc.		15,840		362,577
Northfield Bancorp, Inc.		20,513		336,413
First BanCorp		27,522		328,062
Ready Capital Corp. REIT		20,375		323,351
First Commonwealth Financial Corp.		20,930		294,485
PennyMac Mortgage Investment Trust REIT		13,741		289,386
Ameris Bancorp		5,704		288,794
OFG Bancorp		12,095		267,541
Renasant Corp.		6,655		266,200
WSFS Financial Corp.		5,710		266,029
Franklin Street Properties Corp. REIT		50,005		263,026
Diversified Healthcare Trust REIT		62,844		262,688
Veritex Holdings, Inc.		7,411		262,424
S&T Bancorp, Inc.		8,375		262,137
Banner Corp.		4,806		260,533
Horace Mann Educators Corp.		6,359		237,954
Allegiance Bancshares, Inc.		6,038		232,101
BankUnited, Inc.		5,436		232,063
Acadia Realty Trust REIT		10,499		230,558
Apollo Commercial Real Estate Finance, Inc. REIT		14,399		229,664
Eagle Bancorp, Inc.		4,090		229,367
Old National Bancorp		11,939		210,246
HomeStreet, Inc.		5,117		208,467
Independent Bank Group, Inc.		2,455		181,621
Safety Insurance Group, Inc.		2,262		177,069
First Bancorp		4,240		173,458
Whitestone REIT — Class B		19,543		161,230
DiamondRock Hospitality Co. REIT^*		16,348		158,576
Total Financial				20,633,237
Consumer, Cyclical - 23.2%
Veritiv Corp.^*		35,658		2,190,114
Conn's, Inc.^*		53,436		1,362,618
Signet Jewelers Ltd.*		11,893		960,836
G-III Apparel Group Ltd.^*		29,144		957,672
Cato Corp. — Class A		56,435		952,058
ODP Corp.^*		18,127		870,277
Chico's FAS, Inc.^*		126,064		829,501
Daktronics, Inc.^*		119,406		786,886
M/I Homes, Inc.^*		12,630		741,002
Vera Bradley, Inc.^*		59,325		735,037
Abercrombie & Fitch Co. — Class A^*		15,368		713,536
Genesco, Inc.^*		11,024		702,008
Bed Bath & Beyond, Inc.^*		19,403		645,926
Group 1 Automotive, Inc.		4,111		634,862
GMS, Inc.^*		12,769		614,700
Resideo Technologies, Inc.^*		18,793		563,790
Core-Mark Holding Company, Inc.		12,078		543,631
Shoe Carnival, Inc.		7,181		514,088
Unifi, Inc.^*		19,459		474,021
Asbury Automotive Group, Inc.^*		2,727		467,326
ScanSource, Inc.^*		16,541		465,298
Barnes & Noble Education, Inc.^*		62,444		450,221
Sally Beauty Holdings, Inc.^*		20,376		449,698
Interface, Inc. — Class A		24,216		370,505
PC Connection, Inc.		7,673		355,030
Sonic Automotive, Inc. — Class A		7,117		318,415
SkyWest, Inc.^*		6,945		299,121
Marcus Corp.^*,1		13,409		284,405
Ethan Allen Interiors, Inc.		8,994		248,234
HNI Corp.		5,264		231,458
Motorcar Parts of America, Inc.^*		9,389		210,689
Total Consumer, Cyclical				19,942,963
Industrial - 16.4%
Olympic Steel, Inc.		41,711		1,225,886
US Concrete, Inc.^*		12,422		916,744
Greenbrier Companies, Inc.		20,041		873,387
Granite Construction, Inc.		19,334		802,941
ArcBest Corp.		11,629		676,691
Sanmina Corp.^*		16,959		660,723
DXP Enterprises, Inc.^*		19,550		651,015
Benchmark Electronics, Inc.		22,860		650,596
O-I Glass, Inc.^*		37,878		618,547
Griffon Corp.		23,921		613,095
Bel Fuse, Inc. — Class B		41,299		594,705
Apogee Enterprises, Inc.		13,461		548,267

S&P SmallCap 600^® Pure Value Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.6% (continued)
Industrial - 16.4% (continued)
Boise Cascade Co.		9,361	$	546,214
Atlas Air Worldwide Holdings, Inc.^*		7,991		544,267
Haynes International, Inc.		15,106		534,450
Powell Industries, Inc.		16,951		524,634
TimkenSteel Corp.^*		36,808		520,833
Comtech Telecommunications Corp.		19,495		470,999
TTM Technologies, Inc.^*		31,925		456,527
AAR Corp.^*		11,565		448,144
Hub Group, Inc. — Class A^*		5,370		354,313
Encore Wire Corp.		3,832		290,427
Trinseo S.A.		3,977		237,984
Matthews International Corp. — Class A		6,580		236,617
Tredegar Corp.		6,103		84,039
Total Industrial				14,082,045
Consumer, Non-cyclical - 12.5%
Aaron's Company, Inc.		43,230		1,382,928
CoreCivic, Inc.^*		95,069		995,372
Fresh Del Monte Produce, Inc.		28,021		921,331
Andersons, Inc.		29,614		904,115
Seneca Foods Corp. — Class A^*		17,280		882,662
SpartanNash Co.		38,107		735,846
Kelly Services, Inc. — Class A^*		26,852		643,642
Magellan Health, Inc.^*		6,623		623,887
Universal Corp.		9,737		554,717
Cross Country Healthcare, Inc.^*		32,187		531,407
Edgewell Personal Care Co.		10,406		456,823
Invacare Corp.^*		53,068		428,259
Resources Connection, Inc.		29,122		418,192
ABM Industries, Inc.		8,848		392,409
Deluxe Corp.		7,002		334,486
TrueBlue, Inc.^*		11,468		322,366
Prestige Consumer Healthcare, Inc.^*		4,996		260,292
Total Consumer, Non-cyclical				10,788,734
Energy - 12.4%
CONSOL Energy, Inc.^*		106,350		1,964,285
Green Plains, Inc.^*		35,753		1,202,016
SunCoke Energy, Inc.		134,523		960,494
SM Energy Co.		35,863		883,306
Callon Petroleum Co.^*,1		14,410		831,313
Helix Energy Solutions Group, Inc.^*		115,642		660,316
ProPetro Holding Corp.^*		69,814		639,496
Talos Energy, Inc.^*		39,587		619,141
Matrix Service Co.^*		53,033		556,847
US Silica Holdings, Inc.^*		33,733		389,953
PBF Energy, Inc. — Class A^*		25,305		387,166
Penn Virginia Corp.^*		16,269		384,111
Nabors Industries Ltd.^*		2,958		337,922
Oil States International, Inc.^*		39,477		309,894
NOW, Inc.^*		27,458		260,576
Bristow Group, Inc.^*		7,178		183,829
Warrior Met Coal, Inc.		8,382		144,170
Total Energy				10,714,835
Basic Materials - 6.0%
Domtar Corp.^*		26,256		1,443,030
AdvanSix, Inc.^*		24,287		725,210
Mercer International, Inc.¹		45,399		578,837
Carpenter Technology Corp.		14,260		573,537
Koppers Holdings, Inc.^*		15,902		514,430
Clearwater Paper Corp.^*		16,304		472,327
Rayonier Advanced Materials, Inc.^*		66,844		447,186
Allegheny Technologies, Inc.^*		14,107		294,131
Glatfelter Corp.		9,131		127,560
Total Basic Materials				5,176,248
Communications - 4.1%
Consolidated Communications Holdings, Inc.^*		115,534		1,015,544
Scholastic Corp.		19,624		743,553
EW Scripps Co. — Class A		26,440		539,112
AMC Networks, Inc. — Class A^*		6,006		401,201
Gannett Company, Inc.^*		50,419		276,800
Spok Holdings, Inc.		27,110		260,798
NETGEAR, Inc.^*		4,721		180,909
ePlus, Inc.^*		1,764		152,921
Total Communications				3,570,838
Technology - 0.7%
Insight Enterprises, Inc.^*		5,890		589,059
BM Technologies, Inc.^*		428		5,324
Total Technology				594,383
Utilities - 0.3%
Unitil Corp.		4,392		232,644
Total Common Stocks
(Cost $77,487,908)				85,735,927

WARRANTS^†- 0.0%
Nabors Industries Ltd.
Expiring 06/11/26*	1,199	11,990
Total Warrants
(Cost $0)		11,990

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.5%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	242,139	242,139
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		95,330	95,330
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		93,460	93,460
Total Repurchase Agreements
(Cost $430,929)			430,929

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 1.3%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		1,133,963		1,133,963
Total Securities Lending Collateral
(Cost $1,133,963)				1,133,963
Total Investments - 101.4%
(Cost $79,052,800)			$	87,312,809
Other Assets & Liabilities, net - (1.4)%				(1,231,511	)
Total Net Assets - 100.0%			$	86,081,298

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

S&P SmallCap 600^® Pure Value Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	85,735,927	$	—	$	—	$	85,735,927
Warrants		11,990		—		—		11,990
Repurchase Agreements		—		430,929		—		430,929
Securities Lending Collateral		1,133,963		—		—		1,133,963
Total Assets	$	86,881,880	$	430,929	$	—	$	87,312,809

Strengthening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 36.0%
Guggenheim Strategy Fund II¹		27,327	$	682,907
Guggenheim Ultra Short Duration Fund — Institutional Class¹		58,216		580,414
Total Mutual Funds
(Cost $1,255,062)				1,263,321

	Face Amount
FEDERAL AGENCY NOTES^†† - 33.7%
Federal Farm Credit Bank
0.45% (U.S. Prime Rate - 2.80%, Rate Floor: 0.00%) due 03/14/22²	$	500,000	501,374
0.44% (U.S. Prime Rate - 2.81%, Rate Floor: 0.00%) due 05/20/22²		180,000	180,592
Fannie Mae
0.27% (U.S. Secured Overnight Financing Rate + 0.22%, Rate Floor: 0.00%) due 03/16/22²		500,000	500,721
Total Federal Agency Notes
(Cost $1,180,000)			1,182,687

U.S. TREASURY BILLS^†† - 3.3%
U.S. Treasury Bills
0.01% due 08/03/21^3,4	$	115,000	$	114,995
Total U.S. Treasury Bills
(Cost $114,999)				114,995

REPURCHASE AGREEMENTS^††,5 - 24.9%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21⁶	489,963		489,963
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21⁶	192,898		192,898
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21⁶	189,115		189,115
Total Repurchase Agreements
(Cost $871,976)			871,976
Total Investments - 97.9%
(Cost $3,422,037)		$	3,432,979
Other Assets & Liabilities, net - 2.1%			75,409
Total Net Assets - 100.0%		$	3,508,388

Futures Contracts

Description

Number of Contracts

Expiration Date

Notional Amount

Value and Unrealized
Appreciation^**

Currency Futures Contracts Purchased^†

U.S. Dollar Index Futures Contracts

Sep 2021

6,095,100

131,338

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Currency Index Swap Agreements^††

Goldman Sachs International

U.S. Dollar Index

N/A

At Maturity

09/17/21

10,288

949,654

23,436

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
3	All or a portion of this security is pledged as futures collateral at June 30, 2021.
4	Rate indicated is the effective yield at the time of purchase.
5	Repurchase Agreements — See Note 4.
6	All or a portion of this security is pledged as currency index swap collateral at June 30, 2021.

See Sector Classification in Other Information section.

Strengthening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	1,263,321	$	—	$	—	$	1,263,321
Federal Agency Notes		—		1,182,687		—		1,182,687
U.S. Treasury Bills		—		114,995		—		114,995
Repurchase Agreements		—		871,976		—		871,976
Currency Futures Contracts**		131,338		—		—		131,338
Currency Index Swap Agreements**		—		23,436		—		23,436
Total Assets	$	1,394,659	$	2,193,094	$	—	$	3,587,753

This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	682,634	$	–	$	–	$	–	$	273	$	682,907		27,327	$	2,426
Guggenheim Ultra Short Duration Fund — Institutional Class		579,831		–		–		–		583		580,414		58,216		1,348
	$	1,262,465	$	–	$	–	$	–	$	856	$	1,263,321			$	3,774

Technology Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Software - 33.5%
Microsoft Corp.		9,700	$	2,627,730
Adobe, Inc.^*		1,669		977,433
salesforce.com, Inc.^*		3,517		859,098
Oracle Corp.		10,999		856,162
Intuit, Inc.		1,369		671,043
Zoom Video Communications, Inc. — Class A^*		1,604		620,796
ServiceNow, Inc.^*		1,091		599,559
Fidelity National Information Services, Inc.		3,721		527,154
Activision Blizzard, Inc.		5,207		496,956
Twilio, Inc. — Class A^*		1,246		491,123
Snowflake, Inc. — Class A^*		1,980		478,764
Fiserv, Inc.^*		4,458		476,516
VMware, Inc. — Class A^*,1		2,945		471,112
Autodesk, Inc.^*		1,598		466,456
Workday, Inc. — Class A^*		1,852		442,147
DocuSign, Inc.^*		1,549		433,054
Palantir Technologies, Inc. — Class A^*		15,490		408,316
Synopsys, Inc.^*		1,357		374,247
Electronic Arts, Inc.		2,559		368,061
Bilibili, Inc. ADR^*		3,011		366,860
Paychex, Inc.		3,352		359,670
Cadence Design Systems, Inc.^*		2,626		359,289
NetEase, Inc. ADR		3,032		349,438
Cloudflare, Inc. — Class A^*		3,170		335,513
Atlassian Corporation plc — Class A^*		1,275		327,497
Datadog, Inc. — Class A^*		3,140		326,811
Unity Software, Inc.^*		2,960		325,097
ANSYS, Inc.^*		915		317,560
HubSpot, Inc.^*		510		297,187
Splunk, Inc.^*		2,043		295,377
RingCentral, Inc. — Class A^*		1,016		295,229
Slack Technologies, Inc. — Class A^*		6,547		290,032
Take-Two Interactive Software, Inc.^*		1,493		264,291
MongoDB, Inc.^*		727		262,825
Coupa Software, Inc.^*		989		259,227
Akamai Technologies, Inc.^*		2,119		247,075
Broadridge Financial Solutions, Inc.		1,528		246,818
Tyler Technologies, Inc.^*		540		244,280
Bill.com Holdings, Inc.^*		1,330		243,629
Nuance Communications, Inc.^*		4,126		224,620
Ceridian HCM Holding, Inc.^*		2,340		224,453
Fair Isaac Corp.^*		430		216,152
Citrix Systems, Inc.		1,838		215,542
Dropbox, Inc. — Class A^*		6,691		202,804
Jack Henry & Associates, Inc.		1,210		197,847
Fastly, Inc. — Class A^*,1		2,570		153,172
MicroStrategy, Inc. — Class A^*,1		220		146,190
Alteryx, Inc. — Class A^*		1,597		137,374
Total Software				20,377,586
Semiconductors - 20.3%
NVIDIA Corp.		1,646		1,316,965
Intel Corp.		15,161		851,139
Broadcom, Inc.		1,686		803,952
Texas Instruments, Inc.		4,004		769,969
QUALCOMM, Inc.		5,209		744,522
Applied Materials, Inc.		4,656		663,014
Advanced Micro Devices, Inc.^*		6,837		642,199
Micron Technology, Inc.^*		6,728		571,745
Lam Research Corp.		845		549,842
Taiwan Semiconductor Manufacturing Company Ltd. ADR		4,367		524,739
NXP Semiconductor N.V.		2,261		465,133
Analog Devices, Inc.		2,691		463,283
Marvell Technology, Inc.		6,963		406,152
KLA Corp.		1,250		405,263
ASML Holding N.V. — Class G		547		377,889
Microchip Technology, Inc.		2,434		364,467
Xilinx, Inc.		2,458		355,525
Skyworks Solutions, Inc.		1,755		336,521
Maxim Integrated Products, Inc.		2,916		307,230
Qorvo, Inc.^*		1,423		278,410
Teradyne, Inc.		2,039		273,144
Monolithic Power Systems, Inc.		647		241,622
Entegris, Inc.		1,920		236,102
ON Semiconductor Corp.^*		6,125		234,465
Cree, Inc.^*		1,990		194,881
Total Semiconductors				12,378,173
Internet - 17.5%
Alphabet, Inc. — Class A^*		952		2,324,584
Facebook, Inc. — Class A^*		5,243		1,823,044
Baidu, Inc. ADR^*		3,357		684,492
Snap, Inc. — Class A^*		8,923		608,013
Twitter, Inc.^*		6,543		450,224
Pinterest, Inc. — Class A^*		5,324		420,330
Shopify, Inc. — Class A^*		281		410,535
Sea Ltd. ADR^*		1,486		408,056
Match Group, Inc.^*		2,420		390,225
Okta, Inc.^*		1,446		353,807
Palo Alto Networks, Inc.^*		916		339,882
Zillow Group, Inc. — Class C^*		2,679		327,427
VeriSign, Inc.^*		1,276		290,533
CDW Corp.		1,645		287,299
Wix.com Ltd.^*		980		284,474
Zendesk, Inc.^*		1,641		236,862
NortonLifeLock, Inc.		8,285		225,518
GoDaddy, Inc. — Class A^*		2,520		219,139
IAC^*		1,373		211,676
F5 Networks, Inc.^*		1,014		189,273
Anaplan, Inc.^*		2,960		157,768
Total Internet				10,643,161
Computers - 12.6%
Apple, Inc.		20,306		2,781,110
International Business Machines Corp.		4,473		655,697
Accenture plc — Class A		1,727		509,102
Dell Technologies, Inc. — Class C^*		4,992		497,553
Crowdstrike Holdings, Inc. — Class A^*		1,746		438,787
Fortinet, Inc.^*		1,492		355,379
HP, Inc.		11,682		352,680
Cognizant Technology Solutions Corp. — Class A		4,984		345,192

Technology Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5% (continued)
Computers - 12.6% (continued)
Seagate Technology Holdings plc		3,698	$	325,165
Zscaler, Inc.^*		1,431		309,182
Infosys Ltd. ADR		14,070		298,143
Check Point Software Technologies Ltd.^*		2,484		288,467
Western Digital Corp.^*		3,754		267,172
NetApp, Inc.		2,980		243,824
Total Computers				7,667,453
Commercial Services - 5.1%
PayPal Holdings, Inc.^*		3,710		1,081,391
Square, Inc. — Class A^*		2,506		610,963
Automatic Data Processing, Inc.		2,646		525,548
Global Payments, Inc.		2,228		417,839
FleetCor Technologies, Inc.^*		1,017		260,413
Riot Blockchain, Inc.^*,1		2,830		106,606
Marathon Digital Holdings, Inc.^*,1		3,280		102,894
Total Commercial Services				3,105,654
Diversified Financial Services - 3.9%
Visa, Inc. — Class A		5,561		1,300,273
Mastercard, Inc. — Class A		2,961		1,081,031
Total Diversified Financial Services				2,381,304
Telecommunications - 3.0%
Cisco Systems, Inc.		16,077		852,081
Motorola Solutions, Inc.		1,609		348,911
Arista Networks, Inc.^*		812		294,196
Ciena Corp.^*		2,980		169,532
Juniper Networks, Inc.		6,197		169,488
Total Telecommunications				1,834,208
Energy-Alternate Sources - 1.4%
SolarEdge Technologies, Inc.^*		1,182		326,669
Enphase Energy, Inc.^*		1,646		302,255
First Solar, Inc.^*		2,101		190,162
Total Energy-Alternate Sources				819,086
Electronics - 1.1%
Amphenol Corp. — Class A		5,376		367,772
TE Connectivity Ltd.		2,210		298,814
Total Electronics				666,586
Advertising - 0.6%
Trade Desk, Inc. — Class A^*		4,780		369,781
Office & Business Equipment - 0.5%
Zebra Technologies Corp. — Class A^*		579		306,575
Total Common Stocks
(Cost $26,111,124)				60,549,567

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	245,189	245,189
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		96,531	96,531
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		94,638	94,638
Total Repurchase Agreements
(Cost $436,358)			436,358

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 1.0%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		605,147		605,147
Total Securities Lending Collateral
(Cost $605,147)				605,147
Total Investments - 101.2%
(Cost $27,152,629)			$	61,591,072
Other Assets & Liabilities, net - (1.2)%				(747,992	)
Total Net Assets - 100.0%			$	60,843,080

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

Technology Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	60,549,567	$	—	$	—	$	60,549,567
Repurchase Agreements		—		436,358		—		436,358
Securities Lending Collateral		605,147		—		—		605,147
Total Assets	$	61,154,714	$	436,358	$	—	$	61,591,072

Telecommunications Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.5%
Telecommunications - 67.7%
Verizon Communications, Inc.		4,155	$	232,805
Cisco Systems, Inc.		4,324		229,172
AT&T, Inc.		7,654		220,282
T-Mobile US, Inc.^*		1,417		205,224
Motorola Solutions, Inc.		479		103,871
Arista Networks, Inc.^*		243		88,041
Ubiquiti, Inc.		242		75,550
Lumen Technologies, Inc.		4,709		63,995
Juniper Networks, Inc.		1,836		50,215
Ciena Corp.^*		882		50,177
BCE, Inc.		808		39,851
Iridium Communications, Inc.^*		960		38,390
America Movil SAB de CV — Class L ADR		2,491		37,365
Rogers Communications, Inc. — Class B		690		36,667
TELUS Corp.		1,619		36,314
Vodafone Group plc ADR		2,102		36,007
CommScope Holding Company, Inc.^*		1,682		35,843
Viavi Solutions, Inc.^*		1,923		33,960
Viasat, Inc.^*		652		32,496
Vonage Holdings Corp.^*		2,223		32,034
Calix, Inc.^*		633		30,068
Telephone & Data Systems, Inc.		1,176		26,648
Shenandoah Telecommunications Co.		539		26,147
Infinera Corp.^*		2,425		24,735
InterDigital, Inc.		334		24,392
EchoStar Corp. — Class A^*		987		23,974
Plantronics, Inc.^*		562		23,452
Extreme Networks, Inc.^*		1,801		20,099
Gogo, Inc.^*		1,666		18,959
NETGEAR, Inc.^*		469		17,972
Inseego Corp.^*,1		1,668		16,830
Cincinnati Bell, Inc.^*		971		14,973
Total Telecommunications				1,946,508
Media - 25.3%
Comcast Corp. — Class A		3,409		194,381
Charter Communications, Inc. — Class A^*		212		152,947
Liberty Broadband Corp. — Class C^*		578		100,376
DISH Network Corp. — Class A^*		1,912		79,922
Altice USA, Inc. — Class A^*		1,976		67,461
Cable One, Inc.		31		59,297
Liberty Global plc — Class C^*		1,559		42,155
Liberty Latin America Ltd. — Class C^*		2,153		30,357
Total Media				726,896
Internet - 3.1%
F5 Networks, Inc.^*		301		56,185
Cogent Communications Holdings, Inc.		418		32,140
Total Internet				88,325
Computers - 2.3%
Lumentum Holdings, Inc.^*		517		42,409
NetScout Systems, Inc.^*		831		23,717
Total Computers				66,126
Software - 1.1%
Bandwidth, Inc. — Class A^*		234		32,273
Total Common Stocks
(Cost $2,205,047)				2,860,128

	Face Amount
REPURCHASE AGREEMENTS^††,2 - 0.5%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	7,877	7,877
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		3,101	3,101
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		3,041	3,041
Total Repurchase Agreements
(Cost $14,019)			14,019

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 0.4%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		12,481		12,481
Total Securities Lending Collateral
(Cost $12,481)				12,481
Total Investments - 100.4%
(Cost $2,231,547)			$	2,886,628
Other Assets & Liabilities, net - (0.4)%				(12,333	)
Total Net Assets - 100.0%			$	2,874,295

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

Telecommunications Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	2,860,128	$	—	$	—	$	2,860,128
Repurchase Agreements		—		14,019		—		14,019
Securities Lending Collateral		12,481		—		—		12,481
Total Assets	$	2,872,609	$	14,019	$	—	$	2,886,628

Transportation Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.7%
Transportation - 38.6%
United Parcel Service, Inc. — Class B		10,351	$	2,152,697
Union Pacific Corp.		8,601		1,891,618
FedEx Corp.		4,744		1,415,278
CSX Corp.		41,557		1,333,149
Norfolk Southern Corp.		4,786		1,270,252
Old Dominion Freight Line, Inc.		3,372		855,814
Kansas City Southern		2,780		787,769
Expeditors International of Washington, Inc.		5,804		734,786
J.B. Hunt Transport Services, Inc.		4,033		657,177
XPO Logistics, Inc.^*		4,306		602,366
CH Robinson Worldwide, Inc.		5,840		547,033
ZTO Express Cayman, Inc. ADR		15,718		477,041
Canadian Pacific Railway Ltd.		6,130		471,458
Canadian National Railway Co.		4,406		464,921
Knight-Swift Transportation Holdings, Inc.		9,460		430,052
Landstar System, Inc.		2,441		385,727
Saia, Inc.^*		1,787		374,359
Ryder System, Inc.		4,221		313,747
Kirby Corp.^*		4,835		293,194
Werner Enterprises, Inc.		6,150		273,798
Atlas Air Worldwide Holdings, Inc.^*		3,164		215,500
Total Transportation				15,947,736
Auto Manufacturers - 23.7%
Tesla, Inc.^*		5,609		3,812,437
General Motors Co.^*		24,268		1,435,937
NIO, Inc. ADR^*		20,760		1,104,432
Li Auto, Inc. ADR^*		16,370		571,968
XPeng, Inc. ADR^*		12,280		545,478
Ferrari N.V.		2,180		449,189
Nikola Corp.^*,1		23,760		429,106
Stellantis N.V.		21,222		418,286
Toyota Motor Corp. ADR		2,330		407,377
Fisker, Inc.^*		19,830		382,322
Workhorse Group, Inc.^*,1		14,420		239,228
Total Auto Manufacturers				9,795,760
Auto Parts & Equipment - 13.6%
Aptiv plc^*		3,942		620,195
QuantumScape Corp.^*,1		19,010		556,233
BorgWarner, Inc.		10,876		527,921
Lear Corp.		2,900		508,312
Magna International, Inc.		5,001		463,293
Gentex Corp.		13,493		446,483
Autoliv, Inc.		4,466		436,596
Luminar Technologies, Inc.^*,1		18,920		415,294
Fox Factory Holding Corp.^*		2,666		414,990
Goodyear Tire & Rubber Co.^*		19,710		338,026
Adient plc^*		7,241		327,293
Visteon Corp.^*		2,418		292,433
Dana, Inc.		12,205		289,991
Total Auto Parts & Equipment				5,637,060
Airlines - 12.2%
Southwest Airlines Co.^*		16,108		855,174
Delta Air Lines, Inc.^*		18,711		809,438
United Airlines Holdings, Inc.^*		12,059		630,565
American Airlines Group, Inc.^*		26,530		562,701
Copa Holdings S.A. — Class A^*		5,606		422,300
Alaska Air Group, Inc.^*		6,962		419,878
Ryanair Holdings plc ADR^*		3,774		408,384
JetBlue Airways Corp.^*		21,110		354,226
Allegiant Travel Co. — Class A^*		1,477		286,538
Spirit Airlines, Inc.^*		8,904		271,038
Total Airlines				5,020,242
Internet - 5.4%
Uber Technologies, Inc.^*		30,360		1,521,643
Lyft, Inc. — Class A^*		11,695		707,314
Total Internet				2,228,957
Commercial Services - 2.9%
AMERCO		950		559,930
Avis Budget Group, Inc.^*		4,545		354,010
Macquarie Infrastructure Corp.		7,410		283,581
Total Commercial Services				1,197,521
Home Builders - 2.3%
Thor Industries, Inc.		3,591		405,783
LCI Industries		2,184		287,021
Winnebago Industries, Inc.		3,610		245,336
Total Home Builders				938,140
Leisure Time - 1.0%
Harley-Davidson, Inc.		9,164		419,894
Total Common Stocks
(Cost $24,655,360)				41,185,310

	Face Amount		Value
REPURCHASE AGREEMENTS^††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	164,866		164,866
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		64,908		64,908
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		63,635		63,635
Total Repurchase Agreements
(Cost $293,409)				293,409

	Shares
SECURITIES LENDING COLLATERAL^†,3 - 2.4%
Money Market Fund
First American Government Obligations Fund — Class Z, 0.02%⁴		979,293		979,293
Total Securities Lending Collateral
(Cost $979,293)				979,293
Total Investments - 102.8%
(Cost $25,928,062)			$	42,458,012
Other Assets & Liabilities, net - (2.8)%				(1,147,094	)
Total Net Assets - 100.0%			$	41,310,918

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2021 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2021.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

Transportation Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	41,185,310	$	—	$	—	$	41,185,310
Repurchase Agreements		—		293,409		—		293,409
Securities Lending Collateral		979,293		—		—		979,293
Total Assets	$	42,164,603	$	293,409	$	—	$	42,458,012

Utilities Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
COMMON STOCKS^† - 99.4%
Electric - 82.8%
NextEra Energy, Inc.		26,910	$	1,971,965
Duke Energy Corp.		14,375		1,419,100
Southern Co.		21,463		1,298,726
Dominion Energy, Inc.		17,008		1,251,279
American Electric Power Company, Inc.		12,770		1,080,214
Exelon Corp.		24,179		1,071,371
Sempra Energy		7,852		1,040,233
Xcel Energy, Inc.		14,730		970,412
Public Service Enterprise Group, Inc.		15,080		900,879
WEC Energy Group, Inc.		9,690		861,926
Eversource Energy		10,690		857,766
DTE Energy Co.		6,295		815,832
Consolidated Edison, Inc.		11,293		809,934
Edison International		13,539		782,825
PPL Corp.		27,218		761,287
PG&E Corp.^*		73,099		743,417
FirstEnergy Corp.		19,924		741,372
Ameren Corp.		9,124		730,285
Avangrid, Inc.		14,153		727,889
Entergy Corp.		7,167		714,550
AES Corp.		26,531		691,663
CMS Energy Corp.		11,575		683,851
CenterPoint Energy, Inc.		25,115		615,820
Alliant Energy Corp.		10,886		607,003
Evergy, Inc.		9,845		594,933
NRG Energy, Inc.		13,247		533,854
Vistra Corp.		27,042		501,629
Pinnacle West Capital Corp.		6,056		496,410
OGE Energy Corp.		12,633		425,100
IDACORP, Inc.		3,687		359,483
PNM Resources, Inc.		6,957		339,293
Ormat Technologies, Inc.		4,750		330,268
Portland General Electric Co.		7,081		326,292
Black Hills Corp.		4,971		326,247
NorthWestern Corp.		4,666		280,987
Total Electric				26,664,095
Gas - 9.9%
Atmos Energy Corp.		5,986		575,315
UGI Corp.		11,088		513,485
NiSource, Inc.		20,432		500,584
National Fuel Gas Co.		6,876		359,271
Southwest Gas Holdings, Inc.		4,891		323,735
ONE Gas, Inc.		4,331		321,014
Spire, Inc.		4,331		313,001
South Jersey Industries, Inc.		10,620		275,377
Total Gas				3,181,782
Water - 4.3%
American Water Works Company, Inc.		5,553		855,884
Essential Utilities, Inc.		11,774		538,071
Total Water				1,393,955
Building Materials - 1.3%
MDU Resources Group, Inc.		13,256		415,443
Energy-Alternate Sources - 1.1%
Sunnova Energy International, Inc.^*		9,320		350,991
Total Common Stocks
(Cost $26,483,883)				32,006,266

	Face Amount		Value
REPURCHASE AGREEMENTS^††,1 - 1.0%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21	$	183,382		183,382
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21		72,198		72,198
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21		70,782		70,782
Total Repurchase Agreements
(Cost $326,362)				326,362
Total Investments - 100.4%
(Cost $26,810,245)			$	32,332,628
Other Assets & Liabilities, net - (0.4)%				(119,547	)
Total Net Assets - 100.0%			$	32,213,081

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.

See Sector Classification in Other Information section.

Utilities Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	32,006,266	$	—	$	—	$	32,006,266
Repurchase Agreements		—		326,362		—		326,362
Total Assets	$	32,006,266	$	326,362	$	—	$	32,332,628

Weakening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

	Shares		Value
MUTUAL FUNDS^† - 50.2%
Guggenheim Strategy Fund II¹		15,742	$	393,396
Guggenheim Ultra Short Duration Fund — Institutional Class¹		38,580		384,647
Total Mutual Funds
(Cost $772,094)				778,043

	Face Amount
FEDERAL AGENCY NOTES^†† - 20.0%
Federal Farm Credit Bank
0.45% (U.S. Prime Rate - 2.80%, Rate Floor: 0.00%) due 03/14/22²	$	250,000	250,687
0.44% (U.S. Prime Rate - 2.81%, Rate Floor: 0.00%) due 05/20/22²		60,000	60,197
Total Federal Agency Notes
(Cost $310,000)			310,884

U.S. TREASURY BILLS^†† - 4.1%
U.S. Treasury Bills
0.01% due 08/03/21^3,4	64,000	63,997
Total U.S. Treasury Bills
(Cost $63,999)		63,997

REPURCHASE AGREEMENTS^††,5 - 27.3%
J.P. Morgan Securities LLC issued 06/30/21 at 0.05% due 07/01/21⁶	237,813		237,813
Barclays Capital, Inc. issued 06/30/21 at 0.03% due 07/01/21⁶	93,626		93,626
BofA Securities, Inc. issued 06/30/21 at 0.04% due 07/01/21⁶	91,791		91,791
Total Repurchase Agreements
(Cost $423,230)			423,230
Total Investments - 101.6%
(Cost $1,569,323)		$	1,576,154
Other Assets & Liabilities, net - (1.6)%			(24,393	)
Total Net Assets - 100.0%		$	1,551,761

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation^**
Currency Futures Contracts Sold Short^†
U.S. Dollar Index Futures Contracts		30	Sep 2021	$	2,770,500	$	(56,533	)

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Depreciation

OTC Currency Index Swap Agreements Sold Short^††

Goldman Sachs International

U.S. Dollar Index

N/A

At Maturity

09/17/21

3,286

303,334

(5,648

)

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Variable rate security. Rate indicated is the rate effective at June 30, 2021. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
3	All or a portion of this security is pledged as futures collateral at June 30, 2021.
4	Rate indicated is the effective yield at the time of purchase.
5	Repurchase Agreements — See Note 4.
6	All or a portion of this security is pledged as currency index swap collateral at June 30, 2021.

See Sector Classification in Other Information section.

Weakening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS *(Unaudited)*	June 30, 2021

The following table summarizes the inputs used to value the Fund's investments at June 30, 2021 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	778,043	$	—	$	—	$	778,043
Federal Agency Notes		—		310,884		—		310,884
U.S. Treasury Bills		—		63,997		—		63,997
Repurchase Agreements		—		423,230		—		423,230
Total Assets	$	778,043	$	798,111	$	—	$	1,576,154

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Currency Futures Contracts**	$	56,533	$	—	$	—	$	56,533
Currency Index Swap Agreements**		—		5,648		—		5,648
Total Liabilities	$	56,533	$	5,648	$	—	$	62,181

This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

Transactions during the period ended June 30, 2021, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/21		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/21		Shares 06/30/21		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	393,238	$	–	$	–	$	–	$	158	$	393,396		15,742	$	1,397
Guggenheim Ultra Short Duration Fund — Institutional Class		384,261		–		–		–		386		384,647		38,580		894
	$	777,499	$	–	$	–	$	–	$	544	$	778,043			$	2,291

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Note 1 – Organization and Significant Accounting Policies

Organization

The Rydex Series Funds (the “Trust”), a Delaware statutory trust, is registered with the SEC under the Investment Company Act of 1940 (”1940 Act”), as an open-ended investment company of the series type. Each series, in effect, is representing a separate fund (each, a "Fund"). The Trust may issue an unlimited number of authorized shares. The Trust accounts for the assets of each Fund separately.

This report covers the following funds (collectively, the “Funds”):

Fund Name	Investment Company Type
Banking Fund	Diversified
Basic Materials Fund	Diversified
Biotechnology Fund	Non-diversified
Consumer Products Fund	Diversified
Dow Jones Industrial Average^® Fund	Non-diversified
Electronics Fund	Non-diversified
Emerging Markets 2x Strategy Fund	Non-diversified
Emerging Markets Bond Strategy Fund	Diversified
Energy Fund	Diversified
Energy Services Fund	Non-diversified
Europe 1.25x Strategy Fund	Non-diversified
Financial Services Fund	Diversified
Government Long Bond 1.2x Strategy Fund	Diversified
Health Care Fund	Diversified
High Yield Strategy Fund	Non-diversified
Internet Fund	Diversified
Inverse Emerging Markets 2x Strategy Fund	Non-diversified
Inverse Government Long Bond Strategy Fund	Diversified
Inverse High Yield Strategy Fund	Non-diversified
Inverse Mid-Cap Strategy Fund	Non-diversified
Inverse NASDAQ-100^® Strategy Fund	Non-diversified
Inverse Russell 2000^® Strategy Fund	Non-diversified
Inverse S&P 500^® Strategy Fund	Non-diversified
Japan 2x Strategy Fund	Non-diversified
Leisure Fund	Diversified
Long Short Equity Fund	Non-diversified
Mid-Cap 1.5x Strategy Fund	Non-diversified
Monthly Rebalance NASDAQ-100^® 2x Strategy Fund	Non-diversified
NASDAQ-100^® Fund	Non-diversified
Nova Fund	Non-diversified
Precious Metals Fund	Non-diversified
Real Estate Fund	Diversified
Retailing Fund	Diversified
Russell 2000^® 1.5x Strategy Fund	Non-diversified
Russell 2000^® Fund	Non-diversified
S&P 500^® Fund	Non-diversified
S&P 500^® Pure Growth Fund	Non-diversified
S&P 500^® Pure Value Fund	Non-diversified
S&P MidCap 400^® Pure Growth Fund	Non-diversified
S&P MidCap 400^® Pure Value Fund	Non-diversified
S&P SmallCap 600^® Pure Growth Fund	Non-diversified
S&P SmallCap 600^® Pure Value Fund	Non-diversified
Strengthening Dollar 2x Strategy Fund	Non-diversified
Technology Fund	Diversified
Telecommunications Fund	Non-diversified
Transportation Fund	Diversified
Utilities Fund	Diversified
Weakening Dollar 2x Strategy Fund	Non-diversified

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

For information on the Funds' policy regarding valuation of investments and other significant accounting policies, please refer to the Funds' most recent semi-annual or annual shareholder report.

Significant Accounting Policies

The Funds operate as investment companies and, accordingly, follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 Financial Services – Investment Companies.

The following significant accounting policies are in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and are consistently followed by the Trust. This requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. All time references are based on Eastern Time.

(a) Valuation of Investments

The Board of Trustees of the Funds (the “Board”) has adopted policies and procedures for the valuation of the Funds’ investments (the “Valuation Procedures”). Pursuant to the Valuation Procedures, the Board has delegated to a valuation committee, consisting of representatives from Guggenheim’s investment management, fund administration, legal and compliance departments (the “Valuation Committee”), the day-to-day responsibility for implementing the Valuation Procedures, including, under most circumstances, the responsibility for determining the fair value of the Funds' securities and/or other assets.

Valuations of the Funds’ securities and other assets are supplied primarily by pricing services appointed pursuant to the processes set forth in the Valuation Procedures. The Valuation Committee convenes monthly, or more frequently as needed, to review the valuation of all assets which have been fair valued for reasonableness. The Funds’ officers, through the Valuation Committee and consistent with the monitoring and review responsibilities set forth in the Valuation Procedures, regularly review procedures used and valuations provided by the pricing services.

If the pricing service cannot or does not provide a valuation for a particular investment or such valuation is deemed unreliable, such investment is fair valued by the Valuation Committee.

Equity securities listed or traded on a recognized U.S. securities exchange or the National Association of Securities Dealers Automated Quotations (“NASDAQ”) National Market System shall generally be valued on the basis of the last sale price on the primary U.S. exchange or market on which the security is listed or traded; provided, however, that securities listed on NASDAQ will be valued at the NASDAQ Official Closing Price, which may not necessarily represent the last sale price. If there is no sale on the valuation date, exchange-traded U.S. equity securities will be valued on the basis of the last bid price.

Open-end investment companies are valued at their net asset value as of the close of business, on the valuation date. Exchange-traded funds and closed-end investment companies are valued at the last quoted sale price.

U.S. Government securities are valued by independent pricing services, the last traded fill price, or at the reported bid price at the close of business.

Debt securities with a maturity of greater than 60 days at acquisition are valued at prices that reflect broker-dealer supplied valuations or are obtained from independent pricing services, which may consider the trade activity, treasury spreads, yields or price of bonds of comparable quality, coupon, maturity, and type, as well as prices quoted by dealers who make markets in such securities. Short-term debt securities with a maturity of 60 days or less at acquisition are valued at amortized cost, provided such amount approximates market value.

Repurchase agreements are generally valued at amortized cost, provided such amounts approximate market value.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

The value of futures contracts is accounted for using the unrealized appreciation or depreciation on the contracts that is determined by marking the contracts to their current realized settlement prices. Financial futures contracts are valued at the 4:00 p.m. price on the valuation date. In the event that the exchange for a specific futures contract closes earlier than 4:00 p.m., the futures contract is valued at the official settlement price of the exchange. However, the underlying securities from which the futures contract value is derived are monitored until 4:00 p.m. to determine if fair valuation would provide a more accurate valuation.

The value of currency index swap agreements entered into by a Fund is accounted for using the unrealized appreciation or depreciation on the agreements that is determined by marking the agreements to the broker quote.

The values of other swap agreements entered into by a fund are accounted for using the unrealized appreciation or depreciation on the agreements that are determined by marking the agreements to the last quoted value of the index or other underlying position that the swaps pertain to at the close of the New York Stock Exchange ("NYSE").

Investments for which market quotations are not readily available are fair-valued as determined in good faith by Guggenheim Investments ("GI"), subject to review and approval by the Valuation Committee, pursuant to methods established or ratified by the Board. Valuations in accordance with these methods are intended to reflect each security’s (or asset’s or liability’s) “fair value". Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to market prices; sale prices; broker quotes; and models which derive prices based on inputs such as prices of securities with comparable maturities and characteristics, or based on inputs such as anticipated cash flows or collateral, spread over U.S. Treasury securities, and other information analysis. In connection with futures contracts and other derivative investments, such factors may include obtaining information as to how (a) these contracts and other derivative investments trade in the futures or other derivative markets, respectively, and (b) the securities underlying these contracts and other derivative investments trade in the cash market.

Note 2 – Financial Instruments and Derivatives

As part of their investment strategy, the Funds may utilize short sales and a variety of derivative instruments. These investments involve, to varying degrees, elements of market risk. Valuation and accounting treatment of these instruments can be found under Significant Accounting Policies in Note 1 of these Notes to Schedule of Investments.

Short Sales

A short sale is a transaction in which a Fund sells a security it does not own. If the security sold short decreases in price between the time the Fund sells the security and closes its short position, the Fund will realize a gain on the transaction. Conversely, if the security increases in price during the period, the Fund will realize a loss on the transaction. The risk of such price increases is the principal risk of engaging in short sales.

Derivatives are instruments whose values depend on, or are derived from, in whole or in part, the value of one or more other assets, such as securities, currencies, commodities or indices. Derivative instruments may be used to increase investment flexibility (including to maintain cash reserves while maintaining exposure to certain other assets), for risk management (hedging) purposes, to facilitate trading, to reduce transaction costs and to pursue higher investment returns. Derivative instruments may also be used to mitigate certain investment risks, such as foreign currency exchange rate risk, interest rate risk and credit risk. U.S. GAAP requires disclosures to enable investors to better understand how and why a Fund uses derivative instruments, how these derivative instruments are accounted for and their effects on the Fund’s financial position and results of operations.

The Funds may utilize derivatives for the following purposes:

Duration: the use of an instrument to manage the interest rate risk of a portfolio.

Index Exposure: the use of an instrument to obtain exposure to a listed or other type of index.

Leverage: gaining total exposure to equities or other assets on the long and short sides at greater than 100% of invested capital.

Liquidity: the ability to buy or sell exposure with little price/market impact.

For any Fund whose investment strategy consistently involves applying leverage, the value of the Fund’s shares will tend to increase or decrease more than the value of any increase or decrease in the underlying index or other asset. In addition, because an investment in derivative instruments generally requires a small investment relative to the amount of investment exposure assumed, an opportunity for increased net income is created; but, at the same time, leverage risk will increase. The Fund’s use of leverage, through borrowings or instruments such as derivatives, may cause the Fund to be more volatile and riskier than if they had not been leveraged.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Futures Contracts

A futures contract is an agreement to purchase (long) or sell (short) an agreed amount of securities or other instruments at a set price for delivery at a future date. There are significant risks associated with a Fund's use of futures contracts, including (i) there may be an imperfect or no correlation between the changes in market value of the underlying asset and the prices of futures contracts; (ii) there may not be a liquid secondary market for a futures contract; (iii) trading restrictions or limitations may be imposed by an exchange; and (iv) government regulations may restrict trading in futures contracts. When investing in futures, there is minimal counterparty credit risk to a Fund because futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees against default. Securities held as collateral are noted on the Schedules of Investments.

Swap Agreements

A swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to changes in specified prices or rates for a specified amount of an underlying asset. When utilizing over-the-counter ("OTC") swaps, a fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty or if the underlying asset declines in value. Certain standardized swaps are subject to mandatory central clearing and are executed on a multi-lateral or other trade facility platform, such as a registered exchange. There is limited counterparty credit risk with respect to centrally-cleared swaps as the transaction is facilitated through a central clearinghouse, much like exchange-traded futures contracts. For a fund utilizing centrally-cleared swaps, the exchange bears the risk of loss resulting from a counterparty not being able to pay. There is no guarantee that a fund or an underlying fund could eliminate its exposure under an outstanding swap agreement by entering into an offsetting swap agreement with the same or another party.

Total return and custom basket swaps involve commitments where single or multiple cash flows are exchanged based on the price of an underlying reference asset (such as an index) or a fixed or variable interest rate. Total return and custom basket swaps will usually be computed based on the current index value as of the close of regular trading on the NYSE or other exchange, with the swap value being adjusted to include dividends accrued, financing charges and/or interest associated with the swap agreement. When utilizing a total return index or custom swap basket swaps, a fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty or if the underlying index declines in value.

Currency swaps enable the Funds to gain exposure to currencies in a market without actually possessing a given currency, or to hedge a position. Currency swaps involve the exchange of the principal and interest in one currency for the principal and interest in another currency. As in other types of OTC swaps, the Funds may be at risk due to the counterparty’s inability to perform.

Credit default swaps are instruments which allow for the full or partial transfer of third party credit risk, with respect to a particular entity or entities, from one counterparty to the other. A fund enters into credit default swaps as a “seller” or “buyer” of protection primarily to gain or reduce exposure to the investment grade and/or high yield bond market. A seller of credit default swaps is selling credit protection or assuming credit risk with respect to the underlying entity or entities. The buyer in a credit default swap is obligated to pay the seller a periodic stream of payments over the term of the contract provided that no event of default on an underlying reference obligation has occurred. If a credit event occurs, as defined under the terms of the swap agreement, the seller will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. The notional amount reflects the maximum potential amount the seller of credit protection could be required to pay to the buyer if a credit event occurs. The seller of protection receives periodic premium payments from the buyer and may also receive or pay an upfront premium adjustment to the stated periodic payments. In the event a credit event occurs on a credit default swap referencing an index, a factor adjustment will take place and the buyer of protection will receive a payment reflecting the par less the default recovery rate of the default recovery of the defaulted index component based on its weighting in the index. If no default occurs, the counterparty will pay the stream of payments and have no further obligations to the fund selling the credit protection. For a fund utilizing centrally cleared credit default swaps, the exchange bears the risk of loss resulting from a counterparty not being able to pay. For OTC credit default swaps, a fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty, or in the case of a credit default swap in which a fund is selling credit protection, the default of a third party issuer.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

The quoted market prices and resulting market values for credit default swap agreements on securities and credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

In conjunction with short sales and the use of derivative instruments, the Funds are required to maintain collateral in various forms. Depending on the financial instrument utilized and the broker involved, the Funds use margin deposits at the broker, cash and/or securities segregated at the custodian bank, discount notes or repurchase agreements allocated to the Funds as collateral.

The Trust has established counterparty credit guidelines and enters into transactions only with financial institutions of investment grade or better. The Trust monitors the counterparty credit risk.

Note 3 – Fair Value Measurement

In accordance with U.S. GAAP, fair value is defined as the price that the Funds would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. U.S. GAAP establishes a three-tier fair value hierarchy based on the types of inputs used to value assets and liabilities and requires corresponding disclosure. The hierarchy and the corresponding inputs are summarized below:

Level 1 — quoted prices in active markets for identical assets or liabilities.

Level 2 — significant other observable inputs (for example quoted prices for securities that are similar based on characteristics such as interest rates, prepayment speeds, credit risk, etc.).

Level 3 — significant unobservable inputs based on the best information available under the circumstances, to the extent observable inputs are not available, which may include assumptions.

The types of inputs available depend on a variety of factors, such as the type of security and the characteristics of the markets in which it trades, if any. Fair valuation determinations that rely on fewer or no observable inputs require greater judgment. Accordingly, fair value determinations for Level 3 securities require the greatest amount of judgment.

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The suitability of the techniques and sources employed to determine fair valuation are regularly monitored and subject to change.

Note 4 – Repurchase Agreements

The Funds transfer uninvested cash balances into a single joint account, the daily aggregate balance of which is invested in one or more repurchase agreements collateralized by obligations of the U.S. Treasury and U.S. government agencies. The joint account includes other Funds in the Guggenheim complex not covered in this report. The collateral is in the possession of the Funds’ custodian and is evaluated to ensure that its market value exceeds, at a minimum, 102% of the original face amount of the repurchase agreements. Each Fund holds a pro rata share of the collateral based on the dollar amount of the repurchase agreement entered into by each Fund.

At June 30, 2021, the repurchase agreements in the joint account were as follows:

Counterparty and Terms of Agreement	Face Value		Repurchase Price		Collateral	Par Value		Fair Value
J.P. Morgan Securities LLC					U.S. Treasury Bond
0.05%					6.25%
Due 07/01/21	$	138,485,231	$	138,485,424	Due 08/15/23	$	89,480,200	$	102,887,914

					U.S. Treasury Strips
					0.00%
					Due 08/15/22 - 05/15/23		35,342,679		35,269,373

					U.S. Treasury Note
					2.00%
					Due 10/31/22		3,012,000		3,095,855

					U.S. Cash Management Bills
					0.00%
					Due 09/21/21 - 09/28/21		1,600		1,600

					U.S. Treasury Bill
					0.00%
					Due 09/21/21		200		200
							127,836,679		141,254,942

Barclays Capital, Inc.					U.S. Treasury Inflation Indexed Bond
0.03%					0.13% - 0.88%
Due 07/01/21		54,521,510		54,521,555	Due 10/15/24 - 02/15/47		45,572,916		55,661,477


BofA Securities, Inc.					U.S. Treasury Bonds
0.04%					1.13% - 3.00%
Due 07/01/21		53,452,461		53,452,520	Due 05/15/40 - 02/15/48		55,769,600		54,521,542

In the event of counterparty default, the Funds have the right to collect the collateral to offset losses incurred. There is potential loss to the Funds in the event the Funds are delayed or prevented from exercising their rights to dispose of the collateral securities, including the risk of a possible decline in the value of the underlying securities during the period while the Funds seek to assert their rights. GI, acting under the supervision of the Board, reviews the value of the collateral and the creditworthiness of those banks and dealers with which the Funds enter into repurchase agreements to evaluate potential risks.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Note 5 – Portfolio Securities Loaned

The Funds may lend their securities to approved brokers to earn additional income. Security lending income is net of rebates paid to the borrowers and earnings on cash collateral investments shared with the lending agent. Within this arrangement, the Funds act as the lender, U.S. Bank acts as the lending agent, and other approved registered broker dealers act as the borrowers. The Funds receive cash collateral, valued at 102% of the value of the securities on loan. Under the terms of the Funds’ securities lending agreement with U.S. Bank, cash collateral and proceeds are invested in the First American Government Obligations Fund – Class Z. The Funds bear the risk of loss on cash collateral investments. Collateral is maintained over the life of the loan in an amount not less than the value of loaned securities, as determined at the close of fund business each day; any additional collateral required due to changes in security values is delivered to the Funds the next business day. Although the collateral mitigates the risk, the Funds could experience a delay in recovering its securities and a possible loss of income or value if the borrower fails to return the securities. The Funds have the right under the securities lending agreement to recover the securities from the borrower on demand. Securities lending transactions are accounted for as secured borrowings. The remaining contractual maturity of the securities lending agreement is overnight and continuous.

At June 30, 2021, the Funds participated in securities lending transactions, which are subject to enforceable netting arrangements, as follows:

Fund	Value of Securities Loaned		Collateral Received
Basic Materials Fund	$	3,655,792	$	3,680,716
Biotechnology Fund		3,468,966		3,575,002
Consumer Products Fund		456,564		460,941
Electronics Fund		944,690		999,118
Emerging Markets 2x Strategy Fund		108,165		113,134
Energy Fund		1,153,902		1,164,576
Europe 1.25x Strategy Fund		22,767		23,505
Financial Services Fund		6,812		6,904
Health Care Fund		367,490		379,738
Internet Fund		371,337		389,884
Leisure Fund		694,510		708,042
Mid-Cap 1.5x Strategy Fund		129		129
Monthly Rebalance NASDAQ-100^® 2x Strategy Fund		479,519		494,917
NASDAQ-100^® Fund		2,450,616		2,529,306
Nova Fund		123,672		124,344
Precious Metals Fund		4,214,065		4,248,283
Real Estate Fund		221,675		222,843
Retailing Fund		581,973		610,907
Russell 2000^® Fund		626,991		639,855
S&P 500^® Fund		57,260		57,571
S&P 500^® Pure Value Fund		58,169		58,776
S&P MidCap 400^® Pure Growth Fund		514,378		512,947	*
S&P SmallCap 600^® Pure Growth Fund		1,081,102		1,133,216
S&P SmallCap 600^® Pure Value Fund		1,133,134		1,133,963
Technology Fund		585,665		605,147
Telecommunications Fund		11,714		12,481
Transportation Fund		934,670		979,293

*	Subsequent to June 30, 2021, additional collateral was received.

Note 6 – Federal Income Tax Information

The Funds intend to comply with the provisions of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and will distribute substantially all taxable net investment income and capital gains sufficient to relieve the Funds from all, or substantially all, federal income, excise and state income taxes. Therefore, no provision for federal or state income tax or federal excise tax is required.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Tax positions taken or expected to be taken in the course of preparing the Funds' tax returns are evaluated to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax benefit or expense in the current year. Management has analyzed the Funds' tax positions taken, or to be taken, on U.S. federal income tax returns for all open tax years, and has concluded that no provision for income tax is required in the Funds' financial statements. The Funds' U.S. federal income tax returns are subject to examination by the Internal Revenue Service for a period of three years after they are filed.

At June 30, 2021, the cost of investments for U.S. federal income tax purposes, the aggregate gross unrealized appreciation for all investments for which there was an excess of value over tax cost, and the aggregate gross unrealized depreciation for all investments for which there was an excess of tax cost over value, were as follows:

Fund	Tax Cost		Tax Unrealized Appreciation		Tax Unrealized Depreciation			Net Tax Unrealized Appreciation (Depreciation)
Banking Fund	$	38,466,473	$	2,700,043	$	(49,843	)	$	2,650,200
Basic Materials Fund		65,923,019		14,983,481		(40,506	)		14,942,975
Biotechnology Fund		118,708,553		101,924,326		(8,049,251	)		93,875,075
Consumer Products Fund		56,821,732		49,782,436		(7,585	)		49,774,851
Dow Jones Industrial Average^® Fund		20,505,581		4,660,315		(22,054	)		4,638,261
Electronics Fund		20,165,895		21,457,430		–			21,457,430
Emerging Markets 2x Strategy Fund		8,661,447		1,101,070		(67,479	)		1,033,591
Emerging Markets Bond Strategy Fund		688,131		5,208		(635	)		4,573
Energy Fund		62,535,913		1,787,033		(36,210	)		1,750,823
Energy Services Fund		39,500,551		–		(1,372,940	)		(1,372,940	)
Europe 1.25x Strategy Fund		5,010,209		82,961		(78,488	)		4,473
Financial Services Fund		23,034,567		7,599,125		(45,317	)		7,553,808
Government Long Bond 1.2x Strategy Fund		50,133,043		2,791,447		(2,684	)		2,788,763
Health Care Fund		24,173,185		10,315,363		(235,934	)		10,079,429
High Yield Strategy Fund		26,705,828		554,534		(52,055	)		502,479
Internet Fund		15,940,892		12,331,318		(230,311	)		12,101,007
Inverse Emerging Markets 2x Strategy Fund		229,908		–		(3,476	)		(3,476	)
Inverse Government Long Bond Strategy Fund		50,106,506		19,769		(3,020,598	)		(3,000,829	)
Inverse High Yield Strategy Fund		842,145		4,791		(6,778	)		(1,987	)
Inverse Mid-Cap Strategy Fund		797,070		4,918		(527	)		4,391
Inverse NASDAQ-100^® Strategy Fund		20,859,129		62,507		(1,026,265	)		(963,758	)
Inverse Russell 2000^® Strategy Fund		5,747,361		36,342		(74,972	)		(38,630	)
Inverse S&P 500^® Strategy Fund		46,576,852		125,704		(639,457	)		(513,753	)
Japan 2x Strategy Fund		2,093,030		1,704		(75,972	)		(74,268	)
Leisure Fund		22,273,506		7,776,826		(39,370	)		7,737,456
Long Short Equity Fund		15,930,357		3,140,677		(925,151	)		2,215,526
Mid-Cap 1.5x Strategy Fund		16,355,954		3,142,797		(68,348	)		3,074,449
Monthly Rebalance NASDAQ-100^® 2x Strategy Fund		400,934,141		36,815,777		(477,583	)		36,338,194
NASDAQ-100^® Fund		584,734,611		1,166,789,481		(685,376	)		1,166,104,105
Nova Fund		436,107,552		22,760,914		(370,118	)		22,390,796
Precious Metals Fund		111,244,343		13,411,693		(1,601,870	)		11,809,823
Real Estate Fund		19,091,975		1,251,134		(29,997	)		1,221,137
Retailing Fund		18,867,455		7,412,321		(44,156	)		7,368,165
Russell 2000^® 1.5x Strategy Fund		11,009,460		624,774		(2,831	)		621,943
Russell 2000^® Fund		41,163,512		1,594,946		(18,355	)		1,576,591
S&P 500^® Fund		145,391,947		31,555,182		(26,099	)		31,529,083
S&P 500^® Pure Growth Fund		70,201,439		14,438,969		(9,169	)		14,429,800
S&P 500^® Pure Value Fund		29,601,866		4,778,121		–			4,778,121
S&P MidCap 400^® Pure Growth Fund		50,246,937		17,172,086		(1,536,662	)		15,635,424
S&P MidCap 400^® Pure Value Fund		102,951,406		21,596,177		(367,520	)		21,228,657
S&P SmallCap 600^® Pure Growth Fund		24,824,761		2,846,788		(168,950	)		2,677,838
S&P SmallCap 600^® Pure Value Fund		86,753,599		2,137,572		(1,578,362	)		559,210
Strengthening Dollar 2x Strategy Fund		3,422,173		165,584		(4	)		165,580
Technology Fund		29,114,947		32,580,939		(104,814	)		32,476,125
Telecommunications Fund		2,593,486		303,212		(10,070	)		293,142
Transportation Fund		28,722,281		14,095,052		(359,321	)		13,735,731
Utilities Fund		30,742,030		1,739,970		(149,372	)		1,590,598
Weakening Dollar 2x Strategy Fund		1,569,419		6,737		(62,183	)		(55,446	)

Note 7 – COVID-19

The global ongoing crisis caused by the outbreak of COVID-19 and the current recovery underway is causing disruption to consumer demand and economic output and supply chains. There are still travel restrictions and quarantines, and adverse impacts on local and global economies. Investors should be aware that in light of the current uncertainty, volatility and distress in economies, financial markets, and labor and public health conditions around the world, the Funds' investments and a shareholder’s investment in a Fund are subject to sudden and substantial losses, increased volatility and other adverse events. Firms through which investors invest with the Funds, the Funds, their service providers, the markets in which they invest and market intermediaries are also impacted by quarantines and similar measures intended to respond to and contain the ongoing pandemic, which can obstruct their functioning and subject them to heightened operational and other risks.

OTHER INFORMATION (Unaudited)

Sector Classification

Information in the Schedule of Investments is categorized by sectors using sector-level Classifications defined by the Bloomberg Industry Classification System, a widely recognized industry classification system provider. Each Fund’s registration statement has investment policies relating to concentration in specific sectors/industries. For purposes of these investment policies, the Funds usually classify sectors/industries based on industry-level Classifications used by widely recognized industry classification system providers such as Bloomberg Industry Classification System, Global Industry Classification Standards and Barclays Global Classification Scheme.