Banking Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.7%
Banks - 91.5%
Wells Fargo & Co.		7,422	$	290,720
Bank of America Corp.		8,799		273,913
JPMorgan Chase & Co.		2,417		272,178
Citigroup, Inc.		5,026		231,146
PNC Financial Services Group, Inc.		1,319		208,099
U.S. Bancorp		4,512		207,642
Truist Financial Corp.		4,258		201,957
Bank of New York Mellon Corp.		3,479		145,109
M&T Bank Corp.		849		135,322
First Republic Bank		908		130,934
SVB Financial Group*		317		125,212
Fifth Third Bancorp		3,629		121,934
State Street Corp.		1,920		118,368
Northern Trust Corp.		1,198		115,583
Regions Financial Corp.		5,707		107,006
Citizens Financial Group, Inc.		2,984		106,499
Huntington Bancshares, Inc.		8,779		105,611
KeyCorp		5,878		101,278
Signature Bank		505		90,501
First Horizon Corp.		4,113		89,910
ICICI Bank Ltd. ADR		4,970		88,168
First Citizens BancShares, Inc. — Class A		132		86,299
HDFC Bank Ltd. ADR		1,559		85,683
Toronto-Dominion Bank		1,229		80,598
Royal Bank of Canada		820		79,392
East West Bancorp, Inc.		1,206		78,149
Comerica, Inc.		1,051		77,122
HSBC Holdings plc ADR		2,359		77,068
Popular, Inc.		982		75,545
UBS Group AG		4,603		74,661
Bank of Montreal		769		73,955
Bank of Nova Scotia		1,249		73,953
Commerce Bancshares, Inc.		1,089		71,493
Western Alliance Bancorporation		1,000		70,600
Webster Financial Corp.		1,650		69,547
Canadian Imperial Bank of Commerce		1,431		69,461
Zions Bancorp North America		1,344		68,410
Cullen/Frost Bankers, Inc.		586		68,240
Prosperity Bancshares, Inc.		927		63,286
SouthState Corp.		817		63,032
Pinnacle Financial Partners, Inc.		849		61,391
First Financial Bankshares, Inc.		1,532		60,162
Synovus Financial Corp.		1,658		59,771
Glacier Bancorp, Inc.		1,234		58,516
BOK Financial Corp.		773		58,423
Valley National Bancorp		5,594		58,233
Wintrust Financial Corp.		717		57,468
First Interstate BancSystem, Inc. — Class A		1,490		56,784
United Bankshares, Inc.		1,598		56,042
Bank OZK		1,490		55,920
Cadence Bank		2,316		54,380
Old National Bancorp		3,605		53,318
UMB Financial Corp.		618		53,210
ServisFirst Bancshares, Inc.		674		53,192
Home BancShares, Inc.		2,473		51,364
FNB Corp.		4,633		50,314
Hancock Whitney Corp.		1,127		49,960
Independent Bank Corp.		623		49,485
Umpqua Holdings Corp.		2,932		49,170
Community Bank System, Inc.		746		47,207
CVB Financial Corp.		1,876		46,544
United Community Banks, Inc.		1,529		46,160
Eastern Bankshares, Inc.		2,499		46,131
PacWest Bancorp		1,716		45,749
Bank of Hawaii Corp.		604		44,938
Cathay General Bancorp		1,120		43,848
First Hawaiian, Inc.		1,924		43,694
BankUnited, Inc.		1,220		43,395
Texas Capital Bancshares, Inc.*		809		42,586
Ameris Bancorp		1,055		42,390
Associated Banc-Corp.		2,285		41,724
Simmons First National Corp. — Class A		1,949		41,436
Atlantic Union Bankshares Corp.		1,210		41,043
Columbia Banking System, Inc.		1,346		38,563
Fulton Financial Corp.		2,650		38,292
Hilltop Holdings, Inc.		1,413		37,671
Silvergate Capital Corp. — Class A*		616		32,974
Triumph Bancorp, Inc.*		507		31,718
Customers Bancorp, Inc.*		785		26,611
Total Banks				6,543,361
Diversified Financial Services - 4.3%
Capital One Financial Corp.		1,588		165,454
Apollo Global Management, Inc.		2,851		138,216
Total Diversified Financial Services				303,670
Insurance - 2.5%
Equitable Holdings, Inc.		3,092		80,608
Voya Financial, Inc.		1,062		63,221
Jackson Financial, Inc. — Class A		1,406		37,611
Total Insurance				181,440
Savings & Loans - 1.4%
New York Community Bancorp, Inc.		5,875		53,639
Pacific Premier Bancorp, Inc.		1,442		42,164
Total Savings & Loans				95,803
Total Common Stocks
(Cost $6,273,381)				7,124,274

Banking Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Face Amount		Value
REPURCHASE AGREEMENTS††,1 - 0.6%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	23,653	$	23,653
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		9,212		9,212
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		9,120		9,120
Total Repurchase Agreements
(Cost $41,985)				41,985
Total Investments - 100.3%
(Cost $6,315,366)			$	7,166,259
Other Assets & Liabilities, net - (0.3)%				(18,186	)
Total Net Assets - 100.0%			$	7,148,073

*	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, 2022 (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	$	7,124,274	$	—	$	—	$	7,124,274
Repurchase Agreements		—		41,985		—		41,985
Total Assets	$	7,124,274	$	41,985	$	—	$	7,166,259

Basic Materials Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.0%
Chemicals - 46.4%
Sherwin-Williams Co.		5,531	$	1,238,446
Air Products and Chemicals, Inc.		4,835		1,162,721
Ecolab, Inc.		7,037		1,082,009
Dow, Inc.		18,521		955,869
International Flavors & Fragrances, Inc.		7,741		922,108
LyondellBasell Industries N.V. — Class A		9,723		850,374
DuPont de Nemours, Inc.		15,253		847,762
PPG Industries, Inc.		7,384		844,287
Albemarle Corp.		3,987		833,203
Linde plc		2,581		742,115
CF Industries Holdings, Inc.		7,564		648,462
Mosaic Co.		13,448		635,149
FMC Corp.		5,531		591,872
Westlake Corp.		5,901		578,416
Celanese Corp. — Class A		4,880		573,937
Eastman Chemical Co.		6,270		562,858
Nutrien Ltd.		6,994		557,352
RPM International, Inc.		6,599		519,473
Olin Corp.		9,373		433,782
Huntsman Corp.		13,919		394,604
Ashland Global Holdings, Inc.		3,822		393,857
Chemours Co.		12,001		384,272
Valvoline, Inc.		12,746		367,467
Axalta Coating Systems Ltd.*		16,053		354,932
Balchem Corp.		2,668		346,146
Element Solutions, Inc.		18,726		333,323
Cabot Corp.		5,008		319,460
Sensient Technologies Corp.		3,782		304,678
HB Fuller Co.		4,726		284,552
Ingevity Corp.*		4,036		254,833
Trinseo plc		5,169		198,800
Total Chemicals				18,517,119
Mining - 16.5%
Newmont Corp.		17,585		1,049,297
Freeport-McMoRan, Inc.		32,761		958,587
BHP Group Ltd. ADR1		8,923		501,294
Rio Tinto plc ADR1		7,870		480,070
Alcoa Corp.		9,386		427,814
Agnico Eagle Mines Ltd.		9,208		421,358
Royal Gold, Inc.		3,762		401,706
Teck Resources Ltd. — Class B		12,906		394,536
MP Materials Corp.*		12,118		388,745
Wheaton Precious Metals Corp.		10,607		382,170
Franco-Nevada Corp.		2,825		371,714
Livent Corp.*		14,453		327,939
Arconic Corp.*		10,326		289,644
Compass Minerals International, Inc.		5,414		191,602
Total Mining				6,586,476
Packaging & Containers - 12.8%
Ball Corp.		11,307		777,582
Packaging Corporation of America		4,107		564,713
Crown Holdings, Inc.		5,731		528,226
Westrock Co.		12,609		502,343
Sealed Air Corp.		8,042		464,184
Berry Global Group, Inc.*		8,171		446,464
AptarGroup, Inc.		4,196		433,069
Graphic Packaging Holding Co.		20,342		417,011
Sonoco Products Co.		6,918		394,603
Silgan Holdings, Inc.		8,324		344,197
O-I Glass, Inc.*		16,636		232,904
Total Packaging & Containers				5,105,296
Iron & Steel - 8.9%
Nucor Corp.		7,645		798,214
Steel Dynamics, Inc.		8,139		538,395
Reliance Steel & Aluminum Co.		3,051		518,243
Cleveland-Cliffs, Inc.*		28,188		433,250
ArcelorMittal S.A.1		15,844		358,074
United States Steel Corp.		18,292		327,610
Commercial Metals Co.		9,333		308,922
Allegheny Technologies, Inc.*		11,993		272,361
Total Iron & Steel				3,555,069
Building Materials - 6.7%
Vulcan Materials Co.		4,823		685,348
Martin Marietta Materials, Inc.		2,275		680,771
MDU Resources Group, Inc.		14,027		378,589
Louisiana-Pacific Corp.		6,439		337,468
Eagle Materials, Inc.		3,035		333,668
Summit Materials, Inc. — Class A*		11,435		266,321
Total Building Materials				2,682,165
Biotechnology - 2.5%
Corteva, Inc.		18,465		999,695
Forest Products & Paper - 1.5%
International Paper Co.		14,754		617,160
Household Products & Housewares - 1.5%
Avery Dennison Corp.		3,705		599,728
Housewares - 0.9%
Scotts Miracle-Gro Co. — Class A		4,393		347,003
Distribution & Wholesale - 0.8%
Avient Corp.		7,713		309,137
Coal - 0.5%
Warrior Met Coal, Inc.		6,081		186,139
Total Common Stocks
(Cost $26,870,380)				39,504,987

EXCHANGE-TRADED FUNDS† - 0.8%
VanEck Junior Gold Miners ETF	10,328	330,496
Total Exchange-Traded Funds
(Cost $443,979)		330,496

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	162,191	162,191
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		63,163	63,163
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		62,538	62,538
Total Repurchase Agreements
(Cost $287,892)			287,892

Basic Materials Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 2.6%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		1,038,522	$	1,038,522
Total Securities Lending Collateral
(Cost $1,038,522)			$	1,038,522
Total Investments - 103.1%
(Cost $28,640,773)			$	41,161,897
Other Assets & Liabilities, net - (3.1)%				(1,231,130	)
Total Net Assets - 100.0%			$	39,930,767

*	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, 2022 — 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, 2022.

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, 2022 (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	$	39,504,987	$	—	$	—	$	39,504,987
Exchange-Traded Funds		330,496		—		—		330,496
Repurchase Agreements		—		287,892		—		287,892
Securities Lending Collateral		1,038,522		—		—		1,038,522
Total Assets	$	40,874,005	$	287,892	$	—	$	41,161,897

Biotechnology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.9%
Biotechnology - 74.1%
Amgen, Inc.		33,388	$	8,123,300
Gilead Sciences, Inc.		100,580		6,216,850
Vertex Pharmaceuticals, Inc.*		21,857		6,159,084
Regeneron Pharmaceuticals, Inc.*		9,748		5,762,335
Moderna, Inc.*		39,617		5,659,288
Corteva, Inc.		80,993		4,384,961
Seagen, Inc.*		24,157		4,274,340
Biogen, Inc.*		19,297		3,935,430
Illumina, Inc.*		20,037		3,694,021
Royalty Pharma plc — Class A		86,395		3,632,046
Alnylam Pharmaceuticals, Inc.*		20,425		2,978,986
Horizon Therapeutics plc*		37,124		2,961,010
Incyte Corp.*		38,628		2,934,569
BioMarin Pharmaceutical, Inc.*		34,611		2,868,214
BioNTech SE ADR		16,455		2,453,441
United Therapeutics Corp.*		9,997		2,355,693
Biohaven Pharmaceutical Holding Company Ltd.*		15,069		2,195,704
Sarepta Therapeutics, Inc.*		26,005		1,949,335
Exelixis, Inc.*		92,861		1,933,366
Halozyme Therapeutics, Inc.*		39,270		1,727,880
Ionis Pharmaceuticals, Inc.*		44,583		1,650,463
Novavax, Inc.*,1		31,443		1,617,113
Mirati Therapeutics, Inc.*		23,147		1,553,858
Denali Therapeutics, Inc.*		52,602		1,548,077
Ultragenyx Pharmaceutical, Inc.*		25,027		1,493,111
Apellis Pharmaceuticals, Inc.*		32,963		1,490,587
Arrowhead Pharmaceuticals, Inc.*		42,081		1,481,672
Intellia Therapeutics, Inc.*		28,506		1,475,471
Guardant Health, Inc.*		36,384		1,467,731
CRISPR Therapeutics AG*,1		21,245		1,291,059
Blueprint Medicines Corp.*		24,276		1,226,181
Beam Therapeutics, Inc.*,1		31,487		1,218,862
Fate Therapeutics, Inc.*		47,545		1,178,165
BioCryst Pharmaceuticals, Inc.*		100,512		1,063,417
Iovance Biotherapeutics, Inc.*		92,780		1,024,291
ChemoCentryx, Inc.*		37,299		924,269
Emergent BioSolutions, Inc.*		29,716		922,385
Veracyte, Inc.*		43,440		864,456
NeoGenomics, Inc.*		90,481		737,420
Cassava Sciences, Inc.*,1		26,053		732,610
Editas Medicine, Inc.*,1		55,717		659,132
Total Biotechnology				101,820,183
Pharmaceuticals - 16.8%
AbbVie, Inc.		77,199		11,823,799
AstraZeneca plc ADR		58,369		3,856,440
Viatris, Inc.		236,384		2,474,940
Neurocrine Biosciences, Inc.*		22,736		2,216,305
Jazz Pharmaceuticals plc*		11,909		1,857,923
Ironwood Pharmaceuticals, Inc. — Class A*		81,167		935,856
Total Pharmaceuticals				23,165,263
Healthcare-Products - 4.8%
Bio-Techne Corp.		7,666		2,657,342
Exact Sciences Corp.*		49,142		1,935,703
Natera, Inc.*		36,692		1,300,365
CareDx, Inc.*		35,070		753,304
Total Healthcare-Products				6,646,714
Healthcare-Services - 4.2%
ICON plc*		9,594		2,079,020
Syneos Health, Inc.*		27,917		2,001,090
Medpace Holdings, Inc.*		10,876		1,627,811
Total Healthcare-Services				5,707,921
Total Common Stocks
(Cost $85,912,361)				137,340,081

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.2%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	149,812	149,812
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		58,342	58,342
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		57,764	57,764
Total Repurchase Agreements
(Cost $265,918)			265,918

	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.9%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		2,627,203		2,627,203
Total Securities Lending Collateral
(Cost $2,627,203)				2,627,203
Total Investments - 102.0%
(Cost $88,805,482)			$	140,233,202
Other Assets & Liabilities, net - (2.0)%				(2,733,884	)
Total Net Assets - 100.0%			$	137,499,318

*	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, 2022 — 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, 2022.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

Biotechnology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	137,340,081	$	—	$	—	$	137,340,081
Repurchase Agreements		—		265,918		—		265,918
Securities Lending Collateral		2,627,203		—		—		2,627,203
Total Assets	$	139,967,284	$	265,918	$	—	$	140,233,202

Consumer Products Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.9%
Food - 37.2%
Mondelez International, Inc. — Class A		43,445	$	2,697,500
General Mills, Inc.		26,799		2,021,984
Kraft Heinz Co.		52,069		1,985,912
Sysco Corp.		23,078		1,954,937
Hershey Co.		9,063		1,949,995
Tyson Foods, Inc. — Class A		18,918		1,628,083
Kroger Co.		33,943		1,606,522
Hormel Foods Corp.		31,060		1,471,002
Kellogg Co.		20,109		1,434,576
McCormick & Company, Inc.		16,184		1,347,318
Conagra Brands, Inc.		34,742		1,189,566
Campbell Soup Co.		23,030		1,106,591
J M Smucker Co.		8,413		1,076,948
Albertsons Companies, Inc. — Class A		38,000		1,015,360
Lamb Weston Holdings, Inc.		13,623		973,500
Performance Food Group Co.*		17,595		809,018
US Foods Holding Corp.*		25,467		781,328
Ingredion, Inc.		7,998		705,104
Flowers Foods, Inc.		26,008		684,531
Post Holdings, Inc.*		8,171		672,882
Sanderson Farms, Inc.		2,935		632,580
Grocery Outlet Holding Corp.*		13,568		578,404
Hostess Brands, Inc.*		24,041		509,910
Sprouts Farmers Market, Inc.*		17,845		451,835
TreeHouse Foods, Inc.*		10,794		451,405
Hain Celestial Group, Inc.*		17,719		420,649
Beyond Meat, Inc.*,1		13,818		330,803
Total Food				30,488,243
Beverages - 26.1%
Coca-Cola Co.		76,839		4,833,942
PepsiCo, Inc.		26,384		4,397,157
Monster Beverage Corp.*		22,075		2,046,353
Keurig Dr Pepper, Inc.		57,287		2,027,387
Constellation Brands, Inc. — Class A		8,381		1,953,276
Brown-Forman Corp. — Class B		23,696		1,662,511
Molson Coors Beverage Co. — Class B		18,684		1,018,465
Coca-Cola Europacific Partners plc		15,864		818,741
Anheuser-Busch InBev S.A. ADR		13,607		734,098
Celsius Holdings, Inc.*		11,171		729,019
Fomento Economico Mexicano SAB de CV ADR		9,103		614,361
Boston Beer Company, Inc. — Class A*		1,846		559,283
Total Beverages				21,394,593
Cosmetics & Personal Care - 13.7%
Procter & Gamble Co.		37,969		5,459,562
Estee Lauder Companies, Inc. — Class A		11,359		2,892,797
Colgate-Palmolive Co.		30,081		2,410,691
Beauty Health Co.*		33,645		432,675
Total Cosmetics & Personal Care				11,195,725
Agriculture - 12.8%
Philip Morris International, Inc.		35,784		3,533,312
Altria Group, Inc.		57,295		2,393,212
Archer-Daniels-Midland Co.		24,520		1,902,752
Bunge Ltd.		11,217		1,017,270
Darling Ingredients, Inc.*		13,912		831,938
British American Tobacco plc ADR		18,684		801,730
Total Agriculture				10,480,214
Household Products & Housewares - 6.4%
Kimberly-Clark Corp.		14,962		2,022,114
Church & Dwight Company, Inc.		15,385		1,425,574
Clorox Co.		9,055		1,276,574
Spectrum Brands Holdings, Inc.		6,666		546,745
Total Household Products & Housewares				5,271,007
Retail - 2.0%
Casey's General Stores, Inc.		4,042		747,689
Freshpet, Inc.*		8,413		436,551
Nu Skin Enterprises, Inc. — Class A		9,644		417,585
Total Retail				1,601,825
Pharmaceuticals - 1.2%
BellRing Brands, Inc.*		21,801		542,627
Herbalife Nutrition Ltd.*		19,169		392,006
Total Pharmaceuticals				934,633
Electrical Components & Equipment - 0.5%
Energizer Holdings, Inc.		15,025		425,959
Total Common Stocks
(Cost $44,670,285)				81,792,199

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.4%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	190,610	190,610
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		74,230	74,230
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		73,496	73,496
Total Repurchase Agreements
(Cost $338,336)			338,336

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.3%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		253,700		253,700
Total Securities Lending Collateral
(Cost $253,700)				253,700
Total Investments - 100.6%
(Cost $45,262,321)			$	82,384,235
Other Assets & Liabilities, net - (0.6)%				(507,213	)
Total Net Assets - 100.0%			$	81,877,022

Consumer Products Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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, 2022 — 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, 2022.

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, 2022 (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	$	81,792,199	$	—	$	—	$	81,792,199
Repurchase Agreements		—		338,336		—		338,336
Securities Lending Collateral		253,700		—		—		253,700
Total Assets	$	82,045,899	$	338,336	$	—	$	82,384,235

Dow Jones Industrial Average® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 82.4%
Consumer, Non-cyclical - 21.8%
UnitedHealth Group, Inc.		2,974	$	1,527,536
Amgen, Inc.		2,974		723,574
Johnson & Johnson		2,974		527,915
Procter & Gamble Co.		2,974		427,632
Merck & Company, Inc.		2,974		271,139
Coca-Cola Co.		2,974		187,094
Total Consumer, Non-cyclical				3,664,890
Financial - 16.1%
Goldman Sachs Group, Inc.		2,974		883,337
Visa, Inc. — Class A		2,974		585,551
Travelers Companies, Inc.		2,974		502,993
American Express Co.		2,974		412,256
JPMorgan Chase & Co.		2,974		334,902
Total Financial				2,719,039
Consumer, Cyclical - 13.8%
Home Depot, Inc.		2,974		815,679
McDonald's Corp.		2,974		734,221
Walmart, Inc.		2,974		361,579
NIKE, Inc. — Class B		2,974		303,943
Walgreens Boots Alliance, Inc.		2,974		112,714
Total Consumer, Cyclical				2,328,136
Technology - 13.0%
Microsoft Corp.		2,974		763,813
Salesforce, Inc.*		2,974		490,829
International Business Machines Corp.		2,974		419,899
Apple, Inc.		2,974		406,605
Intel Corp.		2,974		111,257
Total Technology				2,192,403
Industrial - 10.9%
Caterpillar, Inc.		2,974		531,632
Honeywell International, Inc.		2,974		516,911
Boeing Co.*		2,974		406,605
3M Co.		2,974		384,866
Total Industrial				1,840,014
Communications - 3.3%
Walt Disney Co.*		2,974		280,745
Verizon Communications, Inc.		2,974		150,931
Cisco Systems, Inc.		2,974		126,811
Total Communications				558,487
Energy - 2.6%
Chevron Corp.		2,974		430,576
Basic Materials - 0.9%
Dow, Inc.		2,974		153,488
Total Common Stocks
(Cost $13,963,544)				13,887,033
MUTUAL FUNDS† - 13.9%
Guggenheim Ultra Short Duration Fund — Institutional Class1		150,660		1,453,868
Guggenheim Strategy Fund II1		37,085		895,227
Total Mutual Funds
(Cost $2,413,778)				2,349,095

	Face Amount
U.S. TREASURY BILLS†† - 1.2%
U.S. Cash Management Bill
1.34% due 10/04/222,3	$	121,000	120,423
U.S. Treasury Bills
1.02% due 07/19/223,4		73,000	72,963
Total U.S. Treasury Bills
(Cost $193,516)			193,386

REPURCHASE AGREEMENTS††,5 - 3.8%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/222	357,023		357,023
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/222	139,038		139,038
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/222	137,661		137,661
Total Repurchase Agreements
(Cost $633,722)			633,722
Total Investments - 101.3%
(Cost $17,204,560)		$	17,063,236
Other Assets & Liabilities, net - (1.3)%			(212,371	)
Total Net Assets - 100.0%		$	16,850,865

Futures Contracts      

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Purchased†
Dow Jones Industrial Average Index Mini Futures Contracts		9	Sep 2022	$	1,385,010	$	(26,071	)

Dow Jones Industrial Average® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Total Return Swap Agreements          

Counterparty	Index	Type		Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements††
BNP Paribas	Dow Jones Industrial Average Index		Pay	2.13% (Federal Funds Rate + 0.55%)	At Maturity	11/17/22	30	$	922,361	$	(23,684	)
Barclays Bank plc	Dow Jones Industrial Average Index		Pay	2.01% (SOFR + 0.50%)	At Maturity	11/16/22	22		685,006		(51,320	)
								$	1,607,367	$	(75,004	)

*	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	Affiliated issuer.
2	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.
3	Rate indicated is the effective yield at the time of purchase.
4	All or a portion of this security is pledged as futures collateral at June 30, 2022.
5	Repurchase Agreements — See Note 4.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	13,887,033	$	—	$	—	$	13,887,033
Mutual Funds		2,349,095		—		—		2,349,095
U.S. Treasury Bills		—		193,386		—		193,386
Repurchase Agreements		—		633,722		—		633,722
Total Assets	$	16,236,128	$	827,108	$	—	$	17,063,236

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	26,071	$	—	$	—	$	26,071
Equity Index Swap Agreements**		—		75,004		—		75,004
Total Liabilities	$	26,071	$	75,004	$	—	$	101,075

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

Dow Jones Industrial Average® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:  

Security Name	Value 3/31/22		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	910,432	$	–	$	–		$	–		$	(15,205	)	$	895,227		37,085	$	4,639
Guggenheim Ultra Short Duration Fund — Institutional Class		2,386,129		–		(900,000	)		(26,034	)		(6,227	)		1,453,868		150,660		7,587
	$	3,296,561	$	–	$	(900,000	)	$	(26,034	)	$	(21,432	)	$	2,349,095			$	12,226

Electronics Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.4%
Semiconductors - 90.7%
NVIDIA Corp.		17,058	$	2,585,822
Broadcom, Inc.		3,909		1,899,031
QUALCOMM, Inc.		13,468		1,720,402
Intel Corp.		44,740		1,673,723
Texas Instruments, Inc.		10,532		1,618,242
Advanced Micro Devices, Inc.*		19,519		1,492,618
Applied Materials, Inc.		13,687		1,245,243
Analog Devices, Inc.		8,177		1,194,578
Micron Technology, Inc.		19,822		1,095,760
Lam Research Corp.		2,539		1,081,995
KLA Corp.		2,977		949,901
Taiwan Semiconductor Manufacturing Company Ltd. ADR		10,885		889,849
Marvell Technology, Inc.		19,187		835,210
Microchip Technology, Inc.		13,624		791,282
NXP Semiconductor N.V.		5,122		758,210
ASML Holding N.V. — Class G		1,473		700,971
ON Semiconductor Corp.*		12,677		637,780
GLOBALFOUNDRIES, Inc.*,1		14,813		597,556
Monolithic Power Systems, Inc.		1,504		577,596
Skyworks Solutions, Inc.		5,779		535,367
Teradyne, Inc.		5,913		529,509
STMicroelectronics N.V. — Class Y1		15,432		485,645
Entegris, Inc.		5,250		483,683
Qorvo, Inc.*		4,594		433,306
Wolfspeed, Inc.*		6,435		408,301
Lattice Semiconductor Corp.*		7,677		372,335
MKS Instruments, Inc.		3,246		333,137
Azenta, Inc.		4,472		322,431
Silicon Laboratories, Inc.*		2,280		319,702
Synaptics, Inc.*		2,567		303,034
CMC Materials, Inc.		1,720		300,123
Amkor Technology, Inc.		16,976		287,743
Power Integrations, Inc.		3,834		287,588
Cirrus Logic, Inc.*		3,802		275,797
Semtech Corp.*		4,762		261,767
SiTime Corp.*		1,598		260,522
MaxLinear, Inc. — Class A*		6,620		224,948
Ambarella, Inc.*		3,324		217,589
Total Semiconductors				28,988,296
Energy-Alternate Sources - 6.0%
Enphase Energy, Inc.*		3,887		758,898
SolarEdge Technologies, Inc.*		1,998		546,813
First Solar, Inc.*		5,532		376,895
SunPower Corp. — Class A*		14,156		223,806
Total Energy-Alternate Sources				1,906,412
Chemicals - 1.8%
Daqo New Energy Corp. ADR*		8,302		592,597
Electrical Components & Equipment - 0.9%
Universal Display Corp.		2,946		297,958
Total Common Stocks
(Cost $19,252,801)				31,785,263

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	117,490	117,490
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		45,755	45,755
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		45,302	45,302
Total Repurchase Agreements
(Cost $208,547)			208,547

	Shares
SECURITIES LENDING COLLATERAL†,3 - 2.7%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		865,986		865,986
Total Securities Lending Collateral
(Cost $865,986)				865,986
Total Investments - 102.8%
(Cost $20,327,334)			$	32,859,796
Other Assets & Liabilities, net - (2.8)%				(884,012	)
Total Net Assets - 100.0%			$	31,975,784

*	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, 2022 — 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, 2022.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

Electronics Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	31,785,263	$	—	$	—	$	31,785,263
Repurchase Agreements		—		208,547		—		208,547
Securities Lending Collateral		865,986		—		—		865,986
Total Assets	$	32,651,249	$	208,547	$	—	$	32,859,796

Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 63.1%
Technology - 19.2%
Taiwan Semiconductor Manufacturing Company Ltd. ADR		11,060	$	904,155
Infosys Ltd. ADR		12,030		222,675
NetEase, Inc. ADR		1,383		129,117
United Microelectronics Corp. ADR1		14,090		95,389
ASE Technology Holding Company Ltd. ADR		5,664		29,283
Bilibili, Inc. ADR*,1		708		18,125
Wipro Ltd. ADR		3,404		18,075
Total Technology				1,416,819
Communications - 16.4%
Alibaba Group Holding Ltd. ADR*		4,817		547,597
JD.com, Inc. ADR		3,216		206,531
Baidu, Inc. ADR*		766		113,927
Pinduoduo, Inc. ADR*		1,266		78,239
America Movil SAB de CV — Class L ADR		3,655		74,672
Chunghwa Telecom Company Ltd. ADR		1,236		50,985
Telkom Indonesia Persero Tbk PT ADR		1,735		46,914
Trip.com Group Ltd. ADR*		1,625		44,606
SK Telecom Company Ltd. ADR		1,209		26,985
Grupo Televisa SAB ADR		2,162		17,685
Total Communications				1,208,141
Financial - 12.5%
HDFC Bank Ltd. ADR		8,333		457,982
ICICI Bank Ltd. ADR		9,479		168,157
KB Financial Group, Inc. ADR		2,442		90,843
Banco Bradesco S.A. ADR		19,669		64,121
Shinhan Financial Group Company Ltd. ADR		1,717		49,037
China Life Insurance Company Ltd. ADR		5,377		46,457
KE Holdings, Inc. ADR*		1,287		23,102
Woori Financial Group, Inc. ADR1		727		20,560
Total Financial				920,259
Basic Materials - 6.4%
Vale S.A. ADR		14,462		211,579
POSCO Holdings, Inc. ADR		1,190		52,979
Sasol Ltd. ADR*		1,843		42,500
Sociedad Quimica y Minera de Chile S.A. ADR		487		40,679
Suzano S.A. ADR1		3,035		28,772
Gold Fields Ltd. ADR		3,030		27,633
Sibanye Stillwater Ltd. ADR		2,334		23,270
AngloGold Ashanti Ltd. ADR		1,538		22,747
Gerdau S.A. ADR		4,338		18,610
Total Basic Materials				468,769
Energy - 2.6%
Petroleo Brasileiro S.A. ADR		7,040		82,227
China Petroleum & Chemical Corp. ADR		1,671		74,844
PetroChina Company Ltd. ADR1		754		35,167
Total Energy				192,238

Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Consumer, Non-cyclical - 2.1%
Fomento Economico Mexicano SAB de CV ADR		648	$	43,734
Dr Reddy's Laboratories Ltd. ADR		761		42,152
Ambev S.A. ADR		16,395		41,151
BeiGene Ltd. ADR*		158		25,572
Total Consumer, Non-cyclical				152,609
Consumer, Cyclical - 2.0%
NIO, Inc. ADR*		4,370		94,917
Tata Motors Ltd. ADR*		1,375		35,571
Huazhu Group Ltd. ADR		381		14,516
Total Consumer, Cyclical				145,004
Industrial - 1.7%
ZTO Express Cayman, Inc. ADR		3,079		84,519
Cemex SAB de CV ADR*		6,707		26,291
Grupo Aeroportuario del Pacifico SAB de CV ADR		121		16,889
Total Industrial				127,699
Utilities - 0.2%
Korea Electric Power Corp. ADR*		1,792		15,734
Total Common Stocks
(Cost $4,353,352)				4,647,272

PREFERRED STOCKS† - 2.0%
Financial - 1.0%
Itau Unibanco Holding S.A.
ADR	17,998	77,031
Energy - 1.0%
Petroleo Brasileiro S.A.
ADR	6,728	71,519
Total Preferred Stocks
(Cost $157,007)		148,550

	Face Amount
REPURCHASE AGREEMENTS††,2 - 47.9%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/223	$	1,984,825	1,984,825
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/223		772,964	772,964
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/223		765,311	765,311
Total Repurchase Agreements
(Cost $3,523,100)			3,523,100

	Shares
SECURITIES LENDING COLLATERAL†,4 - 2.0%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%5		144,422		144,422
Total Securities Lending Collateral
(Cost $144,422)				144,422
Total Investments - 115.0%
(Cost $8,177,881)			$	8,463,344
Other Assets & Liabilities, net - (15.0)%				(1,106,947	)
Total Net Assets - 100.0%			$	7,356,397

Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation (Depreciation)
OTC Equity Index Swap Agreements††
Goldman Sachs International	BNY Mellon Emerging Markets 50 ADR Index	Pay	2.13% (Federal Funds Rate + 0.55%)	At Maturity	11/17/22	3,144	$	7,850,343	$	110,067
BNP Paribas	BNY Mellon Emerging Markets 50 ADR Index	Pay	2.18% (Federal Funds Rate + 0.60%)	At Maturity	11/17/22	843		2,104,415		(188,783	)
							$	9,954,758	$	(78,716	)

*	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, 2022 — 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, 2022.
4	Securities lending collateral — See Note 5.
5	Rate indicated is the 7-day yield as of June 30, 2022.

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, 2022 (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	$	4,647,272	$	—	$	—	$	4,647,272
Preferred Stocks		148,550		—		—		148,550
Repurchase Agreements		—		3,523,100		—		3,523,100
Securities Lending Collateral		144,422		—		—		144,422
Equity Index Swap Agreements**		—		110,067		—		110,067
Total Assets	$	4,940,244	$	3,633,167	$	—	$	8,573,411

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Index Swap Agreements**	$	—	$	188,783	$	—	$	188,783

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

Emerging Markets Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Face Amount		Value
U.S. TREASURY BILLS†† - 1.5%
U.S. Treasury Bills
1.02% due 07/19/221,2	$	2,000	$	1,999
Total U.S. Treasury Bills
(Cost $1,999)				1,999

REPURCHASE AGREEMENTS††,3 - 84.6%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/224	67,670		67,670
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/224	26,353		26,353
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/224	26,093		26,093
Total Repurchase Agreements
(Cost $120,116)			120,116
Total Investments - 86.1%
(Cost $122,115)		$	122,115
Other Assets & Liabilities, net - 13.9%			19,794
Total Net Assets - 100.0%		$	141,909

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		1	Sep 2022	$	112,125	$	(819	)

Centrally Cleared Credit Default Swap Agreements Protection Sold^††

Counterparty	Exchange		Index		Protection Premium Rate			Payment Frequency	Maturity Date	Notional Amount		Value			Upfront Premiums Paid(Received)			Unrealized Depreciation**
Barclays Bank plc		ICE		CDX.EM.37.V1		1.00	%	Quarterly	06/20/27	$	100,000	$	(9,998	)	$	(7,374	)	$	(2,624	)

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation (Depreciation)
OTC Credit Index Swap Agreements††
Goldman Sachs International	Invesco Emerging Markets Sovereign Debt ETF	Pay	0.60% (Federal Funds Rate + 0.60%)	At Maturity	07/29/22	539	$	9,987	$	3
Goldman Sachs International	Invesco Emerging Markets Sovereign Debt ETF	Pay	2.18% (Federal Funds Rate + 0.60%)	At Maturity	07/29/22	2,737		50,717		(821	)
							$	60,704	$	(818	)

**	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, 2022.
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 equity index swap collateral at June 30, 2022.

Emerging Markets Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

CDX.EM.37.V1 — Credit Default Swap Emerging Markets Series 37 Index Version 1

ICE — Intercontinental Exchange

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, 2022 (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	$	—	$	1,999	$	—	$	1,999
Repurchase Agreements		—		120,116		—		120,116
Credit Index Swap Agreements**		—		3		—		3
Total Assets	$	—	$	122,118	$	—	$	122,118

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Interest Rate Futures Contracts**	$	819	$	—	$	—	$	819
Credit Default Swap Agreements**		—		2,624		—		2,624
Credit Index Swap Agreements**		—		821		—		821
Total Liabilities	$	819	$	3,445	$	—	$	4,264

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

Energy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
Oil & Gas - 66.0%
Exxon Mobil Corp.		62,544	$	5,356,268
Chevron Corp.		34,765		5,033,277
ConocoPhillips		34,938		3,137,782
EOG Resources, Inc.		21,727		2,399,530
Occidental Petroleum Corp.		40,044		2,357,791
Pioneer Natural Resources Co.		9,851		2,197,561
Marathon Petroleum Corp.		24,074		1,979,124
Valero Energy Corp.		18,576		1,974,257
Phillips 66		21,679		1,777,461
Hess Corp.		16,686		1,767,715
Devon Energy Corp.		31,921		1,759,166
Petroleo Brasileiro S.A. ADR		125,859		1,470,033
Continental Resources, Inc.		22,051		1,441,033
Diamondback Energy, Inc.		11,417		1,383,170
Coterra Energy, Inc. — Class A		51,775		1,335,277
BP plc ADR		45,809		1,298,685
Marathon Oil Corp.		52,348		1,176,783
Equities Corp.		30,098		1,035,371
Texas Pacific Land Corp.		677		1,007,390
Ovintiv, Inc.		22,261		983,714
APA Corp.		28,159		982,749
HF Sinclair Corp.		21,297		961,773
Chesapeake Energy Corp.		11,742		952,276
Shell plc ADR		17,554		917,899
Suncor Energy, Inc.		25,820		905,507
Canadian Natural Resources Ltd.		14,987		804,502
Range Resources Corp.*		29,010		717,997
PDC Energy, Inc.		11,580		713,444
Equinor ASA ADR1		19,530		678,863
Helmerich & Payne, Inc.		15,636		673,286
Matador Resources Co.		14,272		664,932
Murphy Oil Corp.		20,829		628,827
Magnolia Oil & Gas Corp. — Class A		28,359		595,255
Civitas Resources, Inc.		11,006		575,504
SM Energy Co.		16,715		571,486
Patterson-UTI Energy, Inc.		35,395		557,825
CVR Energy, Inc.		16,266		544,911
PBF Energy, Inc. — Class A*		18,327		531,850
Denbury, Inc.*		8,447		506,736
California Resources Corp.		12,963		499,075
CNX Resources Corp.*		30,279		498,392
Comstock Resources, Inc.*		35,958		434,373
Callon Petroleum Co.*		10,968		429,946
Oasis Petroleum, Inc.		3,494		425,045
Delek US Holdings, Inc.		14,872		384,292
Northern Oil and Gas, Inc.		14,863		375,439
Laredo Petroleum, Inc.*		4,440		306,094
Talos Energy, Inc.*		19,569		302,732
Total Oil & Gas				58,012,398
Pipelines - 13.3%
Williams Companies, Inc.		61,340		1,914,421
Kinder Morgan, Inc.		112,724		1,889,254
Cheniere Energy, Inc.		13,660		1,817,190
ONEOK, Inc.		27,521		1,527,416
Enbridge, Inc.		26,776		1,131,554
Targa Resources Corp.		18,528		1,105,566
New Fortress Energy, Inc.		22,107		874,774
TC Energy Corp.		14,320		741,919
DT Midstream, Inc.		13,612		667,260
Total Pipelines				11,669,354
Oil & Gas Services - 7.5%
Schlumberger N.V.		55,183		1,973,344
Baker Hughes Co.		57,408		1,657,369
Halliburton Co.		50,811		1,593,433
NOV, Inc.		45,848		775,290
ChampionX Corp.		29,821		591,947
Total Oil & Gas Services				6,591,383
Energy-Alternate Sources - 7.4%
Enphase Energy, Inc.*		8,657		1,690,193
SolarEdge Technologies, Inc.*		4,449		1,217,602
Plug Power, Inc.*		60,337		999,784
First Solar, Inc.*		12,333		840,247
Sunrun, Inc.*		30,165		704,654
SunPower Corp. — Class A*		31,539		498,632
Green Plains, Inc.*		12,772		347,015
TPI Composites, Inc.*		16,285		203,563
Total Energy-Alternate Sources				6,501,690
Coal - 1.6%
Peabody Energy Corp.*		23,548		502,279
Arch Resources, Inc.1		3,265		467,189
CONSOL Energy, Inc.*		7,856		387,929
Total Coal				1,357,397
Retail - 1.2%
Murphy USA, Inc.		3,179		740,294
World Fuel Services Corp.		16,381		335,155
Total Retail				1,075,449
Mining - 0.9%
Cameco Corp.		37,371		785,538
Machinery-Diversified - 0.6%
Cactus, Inc. — Class A		12,925		520,490
Electrical Components & Equipment - 0.5%
EnerSys		7,932		467,671
Electric - 0.5%
Ameresco, Inc. — Class A*		10,090		459,700
Total Common Stocks
(Cost $71,518,058)				87,441,070

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.2%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	108,827	108,827
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		42,381	42,381
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		41,962	41,962
Total Repurchase Agreements
(Cost $193,170)			193,170

Energy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 1.0%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		895,773	$	895,773
Total Securities Lending Collateral
(Cost $895,773)				895,773
Total Investments - 100.7%
(Cost $72,607,001)			$	88,530,013
Other Assets & Liabilities, net - (0.7)%				(641,228	)
Total Net Assets - 100.0%			$	87,888,785

*	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, 2022 — 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, 2022.

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, 2022 (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	$	87,441,070	$	—	$	—	$	87,441,070
Repurchase Agreements		—		193,170		—		193,170
Securities Lending Collateral		895,773		—		—		895,773
Total Assets	$	88,336,843	$	193,170	$	—	$	88,530,013

Energy Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
Oil & Gas Services - 68.7%
Schlumberger N.V.		113,332	$	4,052,752
Baker Hughes Co.		117,895		3,403,629
Halliburton Co.		104,354		3,272,542
NOV, Inc.		94,164		1,592,313
ChampionX Corp.		61,251		1,215,832
Liberty Energy, Inc. — Class A*		71,740		915,402
Expro Group Holdings N.V.*		65,052		749,399
Archrock, Inc.		86,015		711,344
Weatherford International plc*		31,818		673,587
Oceaneering International, Inc.*		61,364		655,368
NOW, Inc.*		66,844		653,734
Core Laboratories N.V.		31,190		617,874
Dril-Quip, Inc.*		23,380		603,204
ProPetro Holding Corp.*		58,049		580,490
MRC Global, Inc.*		56,819		565,917
US Silica Holdings, Inc.*		49,247		562,401
Tidewater, Inc.*		26,560		560,150
Bristow Group, Inc.*		21,526		503,709
National Energy Services Reunited Corp.*		73,862		500,784
Solaris Oilfield Infrastructure, Inc. — Class A		37,878		412,113
DMC Global, Inc.*		20,909		376,989
Oil States International, Inc.*		63,606		344,745
Matrix Service Co.*		45,352		229,481
Total Oil & Gas Services				23,753,759
Oil & Gas - 14.2%
Helmerich & Payne, Inc.		32,102		1,382,312
Patterson-UTI Energy, Inc.		72,693		1,145,641
Valaris Ltd.*		23,800		1,005,312
Noble Corp.*		27,542		698,190
Nabors Industries Ltd.*		5,192		695,209
Total Oil & Gas				4,926,664
Energy-Alternate Sources - 10.2%
SolarEdge Technologies, Inc.*		7,568		2,071,210
Sunrun, Inc.*		61,960	$	1,447,386
Total Energy-Alternate Sources				3,518,596
Machinery-Diversified - 3.1%
Cactus, Inc. — Class A		26,549		1,069,128
Metal Fabricate & Hardware - 2.4%
Tenaris S.A. ADR		32,979		847,230
Retail - 0.9%
Aspen Aerogels, Inc.*,1		31,548		311,694
Total Common Stocks
(Cost $34,360,996)				34,427,071
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	113,513		113,513
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		44,206		44,206
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		43,768		43,768
Total Repurchase Agreements
(Cost $201,487)				201,487
		Shares
SECURITIES LENDING COLLATERAL†,3 - 0.6%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		207,034		207,034
Total Securities Lending Collateral
(Cost $207,034)				207,034
Total Investments - 100.7%
(Cost $34,769,517)			$	34,835,592
Other Assets & Liabilities, net - (0.7)%				(240,342	)
Total Net Assets - 100.0%			$	34,595,250

Energy Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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, 2022 — 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, 2022.

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, 2022 (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	$	34,427,071	$	—	$	—	$	34,427,071
Repurchase Agreements		—		201,487		—		201,487
Securities Lending Collateral		207,034		—		—		207,034
Total Assets	$	34,634,105	$	201,487	$	—	$	34,835,592

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 13.1%
Consumer, Non-cyclical - 5.9%
Nestle S.A. ADR		500	$	58,195
Roche Holding AG ADR		998		41,627
Novartis AG ADR		426		36,010
AstraZeneca plc ADR		545		36,008
Novo Nordisk A/S ADR		291		32,426
Unilever plc ADR		467		21,402
Sanofi ADR		407		20,362
GSK plc ADR		447		19,458
Diageo plc ADR		101		17,586
British American Tobacco plc ADR		370		15,877
L'Oreal S.A. ADR1		215		14,846
Bayer AG ADR		696		10,349
Reckitt Benckiser Group plc ADR1		645		9,823
RELX plc ADR		349		9,402
Anheuser-Busch InBev S.A. ADR		159		8,578
EssilorLuxottica S.A. ADR		107		8,007
Adyen N.V. ADR*		506		7,393
Total Consumer, Non-cyclical				367,349
Financial - 1.6%
HSBC Holdings plc ADR		728		23,784
Allianz SE ADR		727		13,835
Zurich Insurance Group AG ADR		266		11,584
BNP Paribas S.A. ADR		405		9,720
UBS Group AG		586		9,505
Banco Santander S.A. ADR		3,056		8,557
AXA S.A. ADR		349		7,954
Prudential plc ADR		242		6,076
Intesa Sanpaolo SpA ADR		538		6,031
Total Financial				97,046
Energy - 1.2%
Shell plc ADR		657		34,354
TotalEnergies SE ADR		462		24,320
BP plc ADR		572		16,216
Total Energy				74,890
Basic Materials - 1.1%
Linde plc		89		25,590
Air Liquide S.A. ADR		465		12,465
Rio Tinto plc ADR1		188		11,468
Glencore plc ADR		970		10,486
BASF SE ADR		655		7,140
Total Basic Materials				67,149
Industrial - 0.9%
Siemens AG ADR1		266		13,588
Schneider Electric SE ADR		506		11,937
Airbus SE ADR		414		10,056
Vinci S.A. ADR		400		8,928
ABB Ltd. ADR		273		7,297
Deutsche Post AG ADR		175		6,571
Total Industrial				58,377
Consumer, Cyclical - 0.9%
LVMH Moet Hennessy Louis Vuitton SE ADR		233		28,477
Cie Financiere Richemont S.A. ADR1		930		9,933
Mercedes-Benz Group AG ADR		560		8,103
Kering S.A. ADR		129		6,645
Total Consumer, Cyclical				53,158
Technology - 0.8%
ASML Holding N.V. — Class G		72		34,263
SAP SE ADR		193		17,509
Total Technology				51,772
Communications - 0.4%
Deutsche Telekom AG ADR		614		12,231
Prosus N.V. ADR		776		10,158
Total Communications				22,389
Utilities - 0.3%
Iberdrola S.A. ADR		261		10,798
Enel SpA ADR		1,390		7,575
Total Utilities				18,373
Total Common Stocks
(Cost $809,236)				810,503
MUTUAL FUNDS† - 8.6%
Guggenheim Ultra Short Duration Fund — Institutional Class2		27,731		267,604
Guggenheim Strategy Fund II2		11,042		266,555
Total Mutual Funds
(Cost $549,966)				534,159
		Face Amount
U.S. TREASURY BILLS†† - 4.9%
U.S. Treasury Bills
1.02% due 07/19/223,4	$	302,000		301,845
Total U.S. Treasury Bills
(Cost $301,839)				301,845
REPURCHASE AGREEMENTS††,5 - 69.2%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22		2,413,992		2,413,992
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		940,097		940,097
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		930,790		930,790
Total Repurchase Agreements
(Cost $4,284,879)				4,284,879
		Shares
SECURITIES LENDING COLLATERAL†,6 - 0.7%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%7		46,359		46,359
Total Securities Lending Collateral
(Cost $46,359)				46,359
Total Investments - 96.5%
(Cost $5,992,279)			$	5,977,745
Other Assets & Liabilities, net - 3.5%				215,983
Total Net Assets - 100.0%			$	6,193,728

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Currency Futures Contracts Purchased†
Euro FX Futures Contracts		53	Sep 2022	$	6,980,763	$	(4,648	)
Equity Futures Contracts Purchased†
STOXX 50 Index Futures Contracts		192	Sep 2022		6,911,034		(21,532	)

*	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, 2022 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as futures collateral at June 30, 2022.
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, 2022.

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, 2022 (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	$	810,503	$	—	$	—	$	810,503
Mutual Funds		534,159		—		—		534,159
U.S. Treasury Bills		—		301,845		—		301,845
Repurchase Agreements		—		4,284,879		—		4,284,879
Securities Lending Collateral		46,359		—		—		46,359
Total Assets	$	1,391,021	$	4,586,724	$	—	$	5,977,745
Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	21,532	$	—	$	—	$	21,532
Currency Futures Contracts**		4,648		—		—		4,648
Total Liabilities	$	26,180	$	—	$	—	$	26,180

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:
Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	271,082	$	–	$	–	$	–	$	(4,527	)	$	266,555		11,042	$	1,381
Guggenheim Ultra Short Duration Fund — Institutional Class		271,487		–		–		–		(3,883	)		267,604		27,731		932
	$	542,569	$	–	$	–	$	–	$	(8,410	)	$	534,159			$	2,313

Financial Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
REITs - 29.3%
American Tower Corp. — Class A		716	$	183,002
Prologis, Inc.		1,329		156,357
Crown Castle International Corp.		886		149,185
Equinix, Inc.		200		131,404
Public Storage		396		123,817
Realty Income Corp.		1,574		107,441
Digital Realty Trust, Inc.		795		103,215
Welltower, Inc.		1,252		103,102
SBA Communications Corp.		322		103,056
Simon Property Group, Inc.		992		94,161
VICI Properties, Inc.		2,983		88,864
AvalonBay Communities, Inc.		452		87,801
Equity Residential		1,215		87,747
Alexandria Real Estate Equities, Inc.		595		86,293
Weyerhaeuser Co.		2,549		84,423
Extra Space Storage, Inc.		477		81,147
Invitation Homes, Inc.		2,203		78,383
Duke Realty Corp.		1,396		76,710
Mid-America Apartment Communities, Inc.		439		76,680
Ventas, Inc.		1,482		76,219
Sun Communities, Inc.		462		73,624
Essex Property Trust, Inc.		267		69,823
WP Carey, Inc.		798		66,122
UDR, Inc.		1,413		65,055
Camden Property Trust		474		63,744
Healthpeak Properties, Inc.		2,417		62,624
Boston Properties, Inc.		702		62,464
American Homes 4 Rent — Class A		1,692		59,965
Kimco Realty Corp.		3,022		59,745
Equity LifeStyle Properties, Inc.		844		59,477
Gaming and Leisure Properties, Inc.		1,238		56,775
Host Hotels & Resorts, Inc.		3,427		53,735
Regency Centers Corp.		905		53,676
Medical Properties Trust, Inc.		3,419		52,208
CubeSmart		1,219		52,076
Lamar Advertising Co. — Class A		581		51,111
Rexford Industrial Realty, Inc.		887		51,082
Life Storage, Inc.		457		51,029
American Campus Communities, Inc.*		772		49,771
Americold Realty Trust, Inc.		1,626		48,845
National Retail Properties, Inc.		1,081		46,483
Federal Realty OP, LP		484		46,338
STORE Capital Corp.		1,728		45,066
Omega Healthcare Investors, Inc.		1,537		43,328
AGNC Investment Corp.		3,868		42,819
First Industrial Realty Trust, Inc.		882		41,877
Brixmor Property Group, Inc.		2,063		41,693
Kilroy Realty Corp.		795		41,602
Healthcare Trust of America, Inc. — Class A		1,488		41,530
Agree Realty Corp.		562		40,537
Vornado Realty Trust		1,389		39,712
Spirit Realty Capital, Inc.		997		37,667
Independence Realty Trust, Inc.		1,707		35,386
Healthcare Realty Trust, Inc.		1,165		31,688
Park Hotels & Resorts, Inc.		2,185		29,650
SL Green Realty Corp.		614		28,336
Total REITs				3,875,670
Banks - 24.6%
JPMorgan Chase & Co.		2,611		294,025
Bank of America Corp.		8,275		257,601
Wells Fargo & Co.		5,217		204,350
Morgan Stanley		2,563		194,942
Goldman Sachs Group, Inc.		586		174,054
Citigroup, Inc.		3,330		153,147
PNC Financial Services Group, Inc.		878		138,522
U.S. Bancorp		2,989		137,554
Truist Financial Corp.		2,820		133,753
Bank of New York Mellon Corp.		2,305		96,141
M&T Bank Corp.		559		89,099
First Republic Bank		608		87,674
SVB Financial Group*		209		82,553
Fifth Third Bancorp		2,403		80,741
State Street Corp.		1,272		78,419
Northern Trust Corp.		804		77,570
ICICI Bank Ltd. ADR		4,343		77,045
HDFC Bank Ltd. ADR		1,343		73,811
Regions Financial Corp.		3,781		70,894
Citizens Financial Group, Inc.		1,977		70,559
Huntington Bancshares, Inc.		5,816		69,966
Royal Bank of Canada		699		67,677
KeyCorp		3,895		67,111
Bank of Nova Scotia		1,078		63,828
Signature Bank		333		59,677
First Horizon Corp.		2,725		59,568
East West Bancorp, Inc.		809		52,423
Comerica, Inc.		704		51,659
Western Alliance Bancorporation		670		47,302
Webster Financial Corp.		1,105		46,576
Zions Bancorp North America		895		45,555
Synovus Financial Corp.		1,112		40,088
Silvergate Capital Corp. — Class A*		406		21,733
Total Banks				3,265,617
Insurance - 21.6%
Berkshire Hathaway, Inc. — Class B*		1,474		402,431
Marsh & McLennan Companies, Inc.		987		153,232
Progressive Corp.		1,205		140,105
Aon plc — Class A		486		131,064
Chubb Ltd.		626		123,059
MetLife, Inc.		1,914		120,180
American International Group, Inc.		2,138		109,316
Travelers Companies, Inc.		646		109,258
Prudential Financial, Inc.		1,084		103,717
Arthur J Gallagher & Co.		629		102,552
Allstate Corp.		803		101,764
Aflac, Inc.		1,831		101,309
Willis Towers Watson plc		456		90,010

Financial Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5% (continued)
Insurance - 21.6% (continued)
Hartford Financial Services Group, Inc.		1,205	$	78,843
Cincinnati Financial Corp.		637		75,790
Brown & Brown, Inc.		1,223		71,350
Principal Financial Group, Inc.		1,064		71,065
RenaissanceRe Holdings Ltd.		426		66,614
Loews Corp.		1,101		65,245
Markel Corp.*		47		60,783
American Financial Group, Inc.		429		59,550
Fidelity National Financial, Inc.		1,534		56,697
Equitable Holdings, Inc.		2,049		53,417
Globe Life, Inc.		541		52,731
Assurant, Inc.		301		52,028
Reinsurance Group of America, Inc. — Class A		420		49,262
Lincoln National Corp.		1,027		48,033
Old Republic International Corp.		2,027		45,324
Unum Group		1,326		45,111
First American Financial Corp.		808		42,759
Voya Financial, Inc.		712		42,385
MGIC Investment Corp.		2,811		35,419
Total Insurance				2,860,403
Diversified Financial Services - 16.0%
Charles Schwab Corp.		2,939		185,686
American Express Co.		1,251		173,414
BlackRock, Inc. — Class A		269		163,832
CME Group, Inc. — Class A		680		139,196
Intercontinental Exchange, Inc.		1,256		118,114
Capital One Financial Corp.		1,058		110,233
Apollo Global Management, Inc.		1,888		91,530
Discover Financial Services		948		89,662
T. Rowe Price Group, Inc.		776		88,161
Ameriprise Financial, Inc.		364		86,515
Nasdaq, Inc.		545		83,134
Raymond James Financial, Inc.		832		74,389
Tradeweb Markets, Inc. — Class A		964		65,793
LPL Financial Holdings, Inc.		352		64,937
Synchrony Financial		2,200		60,764
Cboe Global Markets, Inc.		512		57,953
Franklin Resources, Inc.		2,434		56,737
Ally Financial, Inc.		1,691		56,665
Coinbase Global, Inc. — Class A*		1,094		51,440
Invesco Ltd.		2,836		45,745
Jefferies Financial Group, Inc.		1,600		44,192
Stifel Financial Corp.		726		40,671
OneMain Holdings, Inc.		1,030		38,501
SLM Corp.		2,374		37,842
SoFi Technologies, Inc.*		6,954		36,648
Evercore, Inc. — Class A		343		32,108
Upstart Holdings, Inc.*,1		907		28,679
Total Diversified Financial Services				2,122,541
Private Equity - 3.7%
Blackstone, Inc. — Class A		1,998		182,277
KKR & Company, Inc. — Class A		2,348		108,689
Ares Management Corp. — Class A		1,283		72,951
Brookfield Asset Management, Inc. — Class A		1,482		65,905
Carlyle Group, Inc.		1,812		57,368
Total Private Equity				487,190
Commercial Services - 2.7%
S&P Global, Inc.		545		183,698
Moody's Corp.		451		122,658
MarketAxess Holdings, Inc.		197		50,434
Total Commercial Services				356,790
Software - 0.8%
MSCI, Inc. — Class A		243		100,153
Media - 0.5%
FactSet Research Systems, Inc.		174		66,915
Savings & Loans - 0.3%
New York Community Bancorp, Inc.		3,892		35,534
Total Common Stocks
(Cost $15,401,284)				13,170,813
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	46,867		46,867
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		18,251		18,251
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		18,071		18,071
Total Repurchase Agreements
(Cost $83,189)				83,189
		Shares
SECURITIES LENDING COLLATERAL†,3 - 0.1%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		18,711		18,711
Total Securities Lending Collateral
(Cost $18,711)				18,711
Total Investments - 100.2%
(Cost $15,503,184)			$	13,272,713
Other Assets & Liabilities, net - (0.2)%				(28,072	)
Total Net Assets - 100.0%			$	13,244,641

*	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, 2022 — See Note 5.

Financial Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

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, 2022.

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, 2022 (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	$	13,170,813	$	—	$	—	$	13,170,813
Repurchase Agreements		—		83,189		—		83,189
Securities Lending Collateral		18,711		—		—		18,711
Total Assets	$	13,189,524	$	83,189	$	—	$	13,272,713

Government Long Bond 1.2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 16.9%
Guggenheim Ultra Short Duration Fund — Institutional Class1		564,487	$	5,447,299
Guggenheim Strategy Fund II1		164,119		3,961,842
Total Mutual Funds
(Cost $9,693,263)				9,409,141
		Face Amount
U.S. GOVERNMENT SECURITIES†† - 78.4%
U.S. Treasury Bonds
2.88% due 05/15/52	$	46,000,000		43,441,250
Total U.S. Government Securities
(Cost $42,708,959)				43,441,250
U.S. TREASURY BILLS†† - 2.6%
U.S. Treasury Bills
1.02% due 07/19/222,3		1,432,000		1,431,268
Total U.S. Treasury Bills
(Cost $1,431,234)				1,431,268
REPURCHASE AGREEMENTS††,4 - 1.5%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%  due 07/01/22		464,031		464,031
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		180,711		180,711
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		178,921		178,921
Total Repurchase Agreements
(Cost $823,663)				823,663
Total Investments - 99.4%
(Cost $54,657,119)			$	55,105,322
Other Assets & Liabilities, net - 0.6%				306,704
Total Net Assets - 100.0%			$	55,412,026

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		165	Sep 2022	$	25,275,938	$	53,663

**	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, 2022.
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, 2022 (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	$	9,409,141	$	—	$	—	$	9,409,141
U.S. Government Securities		—		43,441,250		—		43,441,250
U.S. Treasury Bills		—		1,431,268		—		1,431,268
Repurchase Agreements		—		823,663		—		823,663
Interest Rate Futures Contracts**		53,663		—		—		53,663
Total Assets	$	9,462,804	$	45,696,181	$	—	$	55,158,985

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

Government Long Bond 1.2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:
Security Name	Value 3/31/22		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	5,728,073	$	–	$	(1,700,000	)	$	(26,091	)	$	(40,140	)	$	3,961,842		164,119	$	20,817
Guggenheim Ultra Short Duration Fund — Institutional Class		5,526,328		–		–			–			(79,029	)		5,447,299		564,487		18,961
	$	11,254,401	$	–	$	(1,700,000	)	$	(26,091	)	$	(119,169	)	$	9,409,141			$	39,778

Health Care Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.4%
Pharmaceuticals - 31.3%
Johnson & Johnson		6,220	$	1,104,112
Eli Lilly & Co.		2,936		951,939
Pfizer, Inc.		17,484		916,686
AbbVie, Inc.		5,676		869,336
Merck & Company, Inc.		8,742		797,008
Bristol-Myers Squibb Co.		8,687		668,899
CVS Health Corp.		6,135		568,469
Cigna Corp.		1,801		474,600
Zoetis, Inc.		2,761		474,588
Becton Dickinson and Co.		1,765		435,125
McKesson Corp.		1,107		361,115
AstraZeneca plc ADR		5,091		336,362
Dexcom, Inc.*		3,890		289,922
AmerisourceBergen Corp. — Class A		1,949		275,745
GSK plc ADR		5,392		234,714
Novartis AG ADR		2,592		219,102
Jazz Pharmaceuticals plc*		1,343		209,521
Perrigo Company plc		4,904		198,955
Cardinal Health, Inc.		3,748		195,908
Viatris, Inc.		17,378		181,948
Neurocrine Biosciences, Inc.*		1,672		162,987
Elanco Animal Health, Inc.*		7,815		153,408
Bausch Health Companies, Inc.*		11,346		94,853
Total Pharmaceuticals				10,175,302
Healthcare-Products - 30.3%
Thermo Fisher Scientific, Inc.		1,415		768,741
Abbott Laboratories		6,657		723,283
Danaher Corp.		2,789		707,067
Medtronic plc		6,530		586,068
Stryker Corp.		2,257		448,985
Intuitive Surgical, Inc.*		2,200		441,562
Edwards Lifesciences Corp.*		4,224		401,660
Boston Scientific Corp.*		10,100		376,427
ResMed, Inc.		1,391		291,595
Baxter International, Inc.		4,517		290,127
IDEXX Laboratories, Inc.*		808		283,390
West Pharmaceutical Services, Inc.		817		247,036
STERIS plc		1,171		241,402
Zimmer Biomet Holdings, Inc.		2,296		241,218
Avantor, Inc.*		7,598		236,298
Waters Corp.*		709		234,665
Align Technology, Inc.*		950		224,837
PerkinElmer, Inc.		1,542		219,303
Hologic, Inc.*		3,087		213,929
Insulet Corp.*		970		211,402
Cooper Companies, Inc.		660		206,659
Bio-Techne Corp.		563		195,158
ABIOMED, Inc.*		746		184,642
Teleflex, Inc.		706		173,570
Henry Schein, Inc.*		2,245		172,281
Repligen Corp.*		1,011		164,186
Bruker Corp.		2,565		160,979
Dentsply Sirona, Inc.		4,037		144,242
Exact Sciences Corp.*		3,615		142,395
Masimo Corp.*		1,086		141,908
Envista Holdings Corp.*		3,467		133,618
QuidelOrtho Corp.*		1,313		127,597
10X Genomics, Inc. — Class A*		2,810		127,153
Inspire Medical Systems, Inc.*		679		124,033
Tandem Diabetes Care, Inc.*		1,771		104,826
Natera, Inc.*		2,698		95,617
Nevro Corp.*		1,476		64,693
Total Healthcare-Products				9,852,552
Biotechnology - 17.7%
Amgen, Inc.		2,453		596,815
Gilead Sciences, Inc.		7,394		457,023
Vertex Pharmaceuticals, Inc.*		1,609		453,400
Regeneron Pharmaceuticals, Inc.*		712		420,885
Moderna, Inc.*		2,915		416,408
Seagen, Inc.*		1,777		314,422
Biogen, Inc.*		1,419		289,391
Illumina, Inc.*		1,476		272,115
Royalty Pharma plc — Class A		6,355		267,164
BioNTech SE ADR		1,698		253,172
Alnylam Pharmaceuticals, Inc.*		1,506		219,650
Horizon Therapeutics plc*		2,731		217,825
Incyte Corp.*		2,843		215,983
BioMarin Pharmaceutical, Inc.*		2,544		210,821
United Therapeutics Corp.*		740		174,374
Biohaven Pharmaceutical Holding Company Ltd.*		1,107		161,301
Sarepta Therapeutics, Inc.*		1,913		143,398
Novavax, Inc.*		2,311		118,855
Mirati Therapeutics, Inc.*		1,698		113,987
Apellis Pharmaceuticals, Inc.*		2,420		109,432
Intellia Therapeutics, Inc.*		2,097		108,541
Guardant Health, Inc.*		2,674		107,869
Fate Therapeutics, Inc.*		3,494		86,581
Total Biotechnology				5,729,412
Healthcare-Services - 17.0%
UnitedHealth Group, Inc.		2,308		1,185,458
Elevance Health, Inc.		1,171		565,101
Humana, Inc.		878		410,965
Centene Corp.*		4,387		371,184
HCA Healthcare, Inc.		2,154		362,001
IQVIA Holdings, Inc.*		1,585		343,929
Laboratory Corporation of America Holdings		1,032		241,859
Catalent, Inc.*		2,157		231,425
ICON plc*		1,023		221,684
Molina Healthcare, Inc.*		775		216,698
Quest Diagnostics, Inc.		1,524		202,662
Charles River Laboratories International, Inc.*		802		171,604
Syneos Health, Inc.*		2,052		147,087
Universal Health Services, Inc. — Class B		1,406		141,598
DaVita, Inc.*		1,681		134,413
Teladoc Health, Inc.*		3,775		125,368
Tenet Healthcare Corp.*		2,360		124,042
Encompass Health Corp.		2,206		123,646
Oak Street Health, Inc.*		6,596		108,438
Amedisys, Inc.*		830		87,250
Total Healthcare-Services				5,516,412
Electronics - 1.8%
Agilent Technologies, Inc.		2,595		308,208

Health Care Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.4% (continued)
Electronics - 1.8% (continued)
Mettler-Toledo International, Inc.*		235	$	269,961
Total Electronics				578,169
Software - 1.3%
Veeva Systems, Inc. — Class A*		1,509		298,843
Doximity, Inc. — Class A*		3,932		136,912
Total Software				435,755
Total Common Stocks
(Cost $26,548,060)				32,287,602
		Face Amount
REPURCHASE AGREEMENTS††,1 - 0.5%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	87,714		87,714
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		34,159		34,159
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		33,821		33,821
Total Repurchase Agreements
(Cost $155,694)				155,694
Total Investments - 99.9%
(Cost $26,703,754)			$	32,443,296
Other Assets & Liabilities, net - 0.1%				46,657
Total Net Assets - 100.0%			$	32,489,953

*	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, 2022 (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	$	32,287,602	$	—	$	—	$	32,287,602
Repurchase Agreements		—		155,694		—		155,694
Total Assets	$	32,287,602	$	155,694	$	—	$	32,443,296

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 45.5%
Guggenheim Strategy Fund III1		79,841	$	1,932,952
Guggenheim Ultra Short Duration Fund — Institutional Class1		133,249		1,285,853
Guggenheim Strategy Fund II1		53,173		1,283,590
Total Mutual Funds
(Cost $4,578,426)				4,502,395
		Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 30.2%
Federal Home Loan Bank
1.03% due 07/29/222	$	2,000,000		1,998,398
0.81% due 09/14/222		1,000,000		996,338
Total Federal Agency Discount Notes
(Cost $2,996,710)				2,994,736
U.S. TREASURY BILLS†† - 7.0%
U.S. Treasury Bills
1.02% due 07/19/222,3		696,000		695,644
Total U.S. Treasury Bills
(Cost $695,628)				695,644
REPURCHASE AGREEMENTS††,4 - 15.4%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/225		856,517		856,517
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/225		333,559		333,559
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/225		330,257		330,257
Total Repurchase Agreements
(Cost $1,520,333)				1,520,333
Total Investments - 98.1%
(Cost $9,791,097)			$	9,713,108
Other Assets & Liabilities, net - 1.9%				185,977
Total Net Assets - 100.0%			$	9,899,085

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		62	Sep 2022	$	6,951,750	$	(6,349	)

Centrally Cleared Credit Default Swap Agreements Protection Sold^††    

Counterparty	Exchange		Index		Protection Premium Rate			Payment Frequency	Maturity Date	Notional Amount		Value			Upfront Premiums Paid(Received)			Unrealized Depreciation**
Barclays Bank plc		ICE		CDX.NA.HY.38.V2		5.00	%	Quarterly	06/20/27	$	2,772,000	$	(80,216	)	$	(27,500	)	$	(52,716	)
Goldman Sachs International		ICE		CDX.NA.HY.38.V2		5.00	%	Quarterly	06/20/27		6,237,000		(180,486	)		275,550			(456,036	)
												$	(260,702	)	$	248,050		$	(508,752	)

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Depreciation

OTC Credit Index Swap Agreements††

Goldman Sachs International

iShares iBoxx $ High Yield Corporate Bond ETF

Pay

1.98% (Federal Funds Rate + 0.40%)

At Maturity

07/29/22

9,924

$

730,506

$

(3,672

)

BNP Paribas

iShares iBoxx $ High Yield Corporate Bond ETF

Pay

1.98% (Federal Funds Rate + 0.40%)

At Maturity

11/17/22

1,222

89,966

(6,688

)

BNP Paribas

SPDR Bloomberg High Yield Bond ETF

Pay

2.03% (Federal Funds Rate + 0.45%)

At Maturity

11/17/22

1,788

162,198

(9,502

)

$

982,670

$

(19,862

)

** Includes cumulative appreciation (depreciation).

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

†	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 futures and credit default swap collateral at June 30, 2022.
4	Repurchase Agreements — See Note 4.
5	All or a portion of this security is pledged as credit index swap collateral at June 30, 2022.

CDX.NA.HY.38.V2 — Credit Default Swap North American High Yield Series 38 Index Version 2

ICE — Intercontinental Exchange

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, 2022 (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	$	4,502,395	$	—	$	—	$	4,502,395
Federal Agency Discount Notes		—		2,994,736		—		2,994,736
U.S. Treasury Bills		—		695,644		—		695,644
Repurchase Agreements		—		1,520,333		—		1,520,333
Total Assets	$	4,502,395	$	5,210,713	$	—	$	9,713,108
Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Interest Rate Futures Contracts**	$	6,349	$	—	$	—	$	6,349
Credit Default Swap Agreements**		—		508,752		—		508,752
Credit Index Swap Agreements**		—		19,862		—		19,862
Total Liabilities	$	6,349	$	528,614	$	—	$	534,963

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:
Security Name	Value 3/31/22		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,305,391	$	–	$	–		$	–		$	(21,801	)	$	1,283,590		53,173	$	6,651
Guggenheim Strategy Fund III		2,768,259		–		(800,000	)		(6,501	)		(28,806	)		1,932,952		79,841		10,171
Guggenheim Ultra Short Duration Fund — Institutional Class		1,539,748		–		(235,000	)		(721	)		(18,174	)		1,285,853		133,249		4,666
	$	5,613,398	$	–	$	(1,035,000	)	$	(7,222	)	$	(68,781	)	$	4,502,395			$	21,488

Internet Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
Internet - 54.7%
Alphabet, Inc. — Class A*		377	$	821,581
Amazon.com, Inc.*		6,427		682,612
Meta Platforms, Inc. — Class A*		2,740		441,825
Netflix, Inc.*		1,061		185,537
Booking Holdings, Inc.*		103		180,146
Twitter, Inc.*		4,603		172,106
Airbnb, Inc. — Class A*		1,814		161,591
Alibaba Group Holding Ltd. ADR*		1,302		148,011
Uber Technologies, Inc.*		6,698		137,041
DoorDash, Inc. — Class A*		1,761		113,003
eBay, Inc.		2,536		105,675
Shopify, Inc. — Class A*		3,360		104,966
Snap, Inc. — Class A*		7,586		99,604
Baidu, Inc. ADR*		668		99,352
VeriSign, Inc.*		568		95,044
JD.com, Inc. ADR		1,447		92,926
MercadoLibre, Inc.*		143		91,072
Match Group, Inc.*		1,303		90,806
Sea Ltd. ADR*		1,313		87,787
Chewy, Inc. — Class A*,1		2,519		87,460
Okta, Inc.*		941		85,066
Expedia Group, Inc.*		887		84,114
Pinterest, Inc. — Class A*		4,066		73,839
GoDaddy, Inc. — Class A*		1,045		72,690
Pinduoduo, Inc. ADR*		1,165		71,997
Roku, Inc.*		866		71,133
Etsy, Inc.*		919		67,280
F5, Inc.*		432		66,113
Trip.com Group Ltd. ADR*		2,330		63,959
Zillow Group, Inc. — Class C*		1,986		63,056
Zillow Group, Inc. — Class A*		1,976		62,857
Spotify Technology S.A.*		666		62,491
IAC*		719		54,622
Coupang, Inc.*		4,058		51,740
Wix.com Ltd.*		738		48,376
Bumble, Inc. — Class A*		1,669		46,982
Wayfair, Inc. — Class A*,1		1,056		45,999
Lyft, Inc. — Class A*		3,370		44,754
TripAdvisor, Inc.*		1,904		33,891
Revolve Group, Inc.*		1,144		29,641
Overstock.com, Inc.*		855		21,384
Vimeo, Inc.*		3,305		19,896
Stitch Fix, Inc. — Class A*		2,823		13,946
Total Internet				5,253,971
Software - 31.2%
Adobe, Inc.*		773		282,964
Salesforce, Inc.*		1,684		277,927
Activision Blizzard, Inc.		2,176		169,423
Snowflake, Inc. — Class A*		1,112		154,635
Citrix Systems, Inc.*		1,439		139,828
Workday, Inc. — Class A*		921		128,553
Datadog, Inc. — Class A*		1,337		127,336
Veeva Systems, Inc. — Class A*		613		121,399
Zoom Video Communications, Inc. — Class A*		1,104		119,199
Electronic Arts, Inc.		968		117,757
ROBLOX Corp. — Class A*		3,376		110,935
MongoDB, Inc.*		367		95,237
Take-Two Interactive Software, Inc.*		732		89,692
Cloudflare, Inc. — Class A*		1,951		85,356
HubSpot, Inc.*		282		84,783
Twilio, Inc. — Class A*		1,011		84,732
Akamai Technologies, Inc.*		913		83,384
ZoomInfo Technologies, Inc. — Class A*		2,342		77,848
DocuSign, Inc.*		1,251		71,782
Dropbox, Inc. — Class A*		2,980		62,550
Five9, Inc.*		633		57,692
NetEase, Inc. ADR		567		52,935
Smartsheet, Inc. — Class A*		1,487		46,737
Bilibili, Inc. ADR*,1		1,806		46,234
DigitalOcean Holdings, Inc.*,1		1,109		45,868
Coupa Software, Inc.*		801		45,737
Box, Inc. — Class A*		1,742		43,794
New Relic, Inc.*		827		41,391
Ziff Davis, Inc.*		553		41,215
Nutanix, Inc. — Class A*		2,674		39,121
Fastly, Inc. — Class A*		2,368		27,493
BigCommerce Holdings, Inc.*		1,545		25,029
Total Software				2,998,566
Telecommunications - 7.6%
Cisco Systems, Inc.		6,505		277,373
Motorola Solutions, Inc.		632		132,467
Arista Networks, Inc.*		1,240		116,238
Juniper Networks, Inc.		2,319		66,092
Switch, Inc. — Class A		1,814		60,769
Ciena Corp.*		1,256		57,399
CommScope Holding Company, Inc.*		3,802		23,268
Total Telecommunications				733,606
Commercial Services - 4.2%
PayPal Holdings, Inc.*		2,712		189,406
CoStar Group, Inc.*		1,785		107,832
Paylocity Holding Corp.*		390		68,024
Chegg, Inc.*		1,844		34,630
Total Commercial Services				399,892
Entertainment - 0.6%
DraftKings, Inc. — Class A*,1		4,510		52,632
Computers - 0.5%
Lumentum Holdings, Inc.*		662		52,576
Healthcare-Services - 0.5%
Teladoc Health, Inc.*		1,574		52,272
Real Estate - 0.2%
Redfin Corp.*		2,675		22,042
Total Common Stocks
(Cost $8,583,691)				9,565,557

Internet Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Face Amount		Value
REPURCHASE AGREEMENTS††,2 - 0.3%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	18,920	$	18,920
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		7,368		7,368
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		7,295		7,295
Total Repurchase Agreements
(Cost $33,583)				33,583
		Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 2.2%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		208,081		208,081
Total Securities Lending Collateral
(Cost $208,081)				208,081
Total Investments - 102.0%
(Cost $8,825,355)			$	9,807,221
Other Assets & Liabilities, net - (2.0)%				(193,478	)
Total Net Assets - 100.0%			$	9,613,743

*	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, 2022 — 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, 2022.

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, 2022 (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	$	9,565,557	$	—	$	—	$	9,565,557
Repurchase Agreements		—		33,583		—		33,583
Securities Lending Collateral		208,081		—		—		208,081
Total Assets	$	9,773,638	$	33,583	$	—	$	9,807,221

Inverse Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Face Amount		Value
REPURCHASE AGREEMENTS††,1 - 105.0%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/222	$	527,133	$	527,133
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/222		205,285		205,285
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/222		203,253		203,253
Total Repurchase Agreements
(Cost $935,671)				935,671
Total Investments - 105.0%
(Cost $935,671)			$	935,671
Other Assets & Liabilities, net - (5.0)%				(44,858	)
Total Net Assets - 100.0%			$	890,813

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements Sold Short††

BNP Paribas

BNY Mellon Emerging Markets 50 ADR Index

Receive

1.38% (Federal Funds Rate - 0.20%)

At Maturity

11/17/22

322

$

803,856

$

83,367

Goldman Sachs International

BNY Mellon Emerging Markets 50 ADR Index

Receive

1.13% (Federal Funds Rate - 0.45%)

At Maturity

11/17/22

391

977,079

69,640

$

1,780,935

$

153,007

††	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, 2022.

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, 2022 (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	$	—	$	935,671	$	—	$	935,671
Equity Index Swap Agreements**		—		153,007		—		153,007
Total Assets	$	—	$	1,088,678	$	—	$	1,088,678

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

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 6.8%
Guggenheim Ultra Short Duration Fund — Institutional Class1		528,512	$	5,100,139
Guggenheim Strategy Fund II1		210,588		5,083,592
Total Mutual Funds
(Cost $10,470,929)				10,183,731
		Face Amount
FEDERAL AGENCY NOTES†† - 51.8%
Federal Home Loan Bank
1.53% (SOFR + 0.01%, Rate Floor: 0.00%) due 08/11/22◊	$	30,000,000		30,000,000
1.52% (SOFR + 0.01%, Rate Floor: 0.00%) due 09/15/22◊		15,000,000		14,999,610
1.53% (SOFR + 0.01%, Rate Floor: 0.00%) due 08/01/22◊		5,000,000		5,000,000
Federal Farm Credit Bank
1.56% (SOFR + 0.05%) due 08/25/22◊		20,000,000		20,001,060
1.57% (1 Year U.S. Prime Rate - 3.18%, Rate Floor: 0.00%) due 10/25/22◊		5,000,000		5,000,510
1.90% (U.S. Prime Rate - 2.85%, Rate Floor: 0.00%) due 08/30/22◊		3,000,000		3,001,689
Total Federal Agency Notes
(Cost $78,003,127)				78,002,869
FEDERAL AGENCY DISCOUNT NOTES†† - 44.3%
Federal Home Loan Bank
1.42% due 07/20/222		15,000,000		14,988,758
1.03% due 07/29/222		15,000,000		14,987,983
1.40% due 07/28/222		15,000,000		14,984,250
1.01% due 07/29/222		10,800,000		10,791,348
1.45% due 08/08/222		10,000,000		9,984,694
0.81% due 09/14/222		1,000,000		996,339
Total Federal Agency Discount Notes
(Cost $66,735,347)				66,733,372
U.S. TREASURY BILLS†† - 0.4%
U.S. Treasury Bills
1.02% due 07/19/222,3		631,000		630,677
Total U.S. Treasury Bills
(Cost $630,662)				630,677
REPURCHASE AGREEMENTS††,4 - 94.2%
Individual Repurchase Agreements5
Mizuho Securities USA LLC issued 06/30/22 at 1.35%  due 07/01/22 (secured by a U.S. Treasury Bond, at a rate of 2.88% and maturing 05/15/52 as collateral, with a value of $133,391,250) to be repurchased at $130,780,639		130,775,735		130,775,735
Barclays Capital, Inc. issued 06/30/22 at 1.22%  due 07/01/22 (secured by a U.S. Treasury Bond, at a rate of 2.88% and maturing 05/15/52 as collateral, with a value of $11,276,100) to be repurchased at $11,055,375		11,055,000		11,055,000
Joint Repurchase Agreements5
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22		46,523		46,523
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		18,118		18,118
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		17,939		17,939
Total Repurchase Agreements
(Cost $141,913,315)				141,913,315
Total Investments - 197.5%
(Cost $297,753,380)			$	297,463,964
U.S. Government Securities Sold Short†† - (94.0)%
U.S. Treasury Bonds
2.88% due 05/15/52		149,900,000		(141,561,812	)
Total Securities Sold Short - (94.0)%
(Proceeds $142,833,661)			$	(141,561,812	)
Other Assets & Liabilities, net - (3.5)%				(5,232,677	)
Total Net Assets - 100.0%			$	150,669,475

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Interest Rate Futures Contracts Sold Short†
U.S. Treasury Ultra Long Bond Futures Contracts		65	Sep 2022	$	9,957,188	$	382,703

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
◊	Variable rate security. Rate indicated is the rate effective at June 30, 2022. 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.
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 futures collateral at June 30, 2022.
4	Repurchase Agreements — See Note 4.
5	All or a portion of this security is pledged as short security collateral at June 30, 2022.

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	10,183,731	$	—	$	—	$	10,183,731
Federal Agency Notes		—		78,002,869		—		78,002,869
Federal Agency Discount Notes		—		66,733,372		—		66,733,372
U.S. Treasury Bills		—		630,677		—		630,677
Repurchase Agreements		—		141,913,315		—		141,913,315
Interest Rate Futures Contracts**		382,703		—		—		382,703
Total Assets	$	10,566,434	$	287,280,233	$	—	$	297,846,667

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	$	—	$	141,561,812	$	—	$	141,561,812

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:
Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	5,169,933	$	–	$	–	$	–	$	(86,341	)	$	5,083,592		210,588	$	26,343
Guggenheim Ultra Short Duration Fund — Institutional Class	$	5,174,130	$	–	$	–	$	–	$	(73,991	)	$	5,100,139		528,512	$	17,753
	$	10,344,063	$	–	$	–	$	–	$	(160,332	)	$	10,183,731			$	44,096

Inverse High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 2.7%
Guggenheim Strategy Fund II1		29,310	$	707,532
Guggenheim Ultra Short Duration Fund — Institutional Class1		37,683		363,642
Total Mutual Funds
(Cost $1,096,686)				1,071,174

	Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 72.3%
Federal Home Loan Bank
1.40% due 08/03/222	$	12,000,000	11,984,600
1.45% due 08/08/222		12,000,000	11,981,633
1.42% due 07/20/222		5,000,000	4,996,253
Total Federal Agency Discount Notes
(Cost $28,962,486)			28,962,486

U.S. TREASURY BILLS†† - 0.5%
U.S. Treasury Bills
1.02% due 07/19/222,3	222,000	221,886
Total U.S. Treasury Bills
(Cost $221,881)		221,886

REPURCHASE AGREEMENTS††,4 - 17.8%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	4,018,490		4,018,490
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22	1,564,948		1,564,948
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22	1,549,453		1,549,453
Total Repurchase Agreements
(Cost $7,132,891)			7,132,891
Total Investments - 93.3%
(Cost $37,413,944)		$	37,388,437
Other Assets & Liabilities, net - 6.7%			2,690,350
Total Net Assets - 100.0%		$	40,078,787

Futures Contracts      

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Interest Rate Futures Contracts Sold Short†
U.S. Treasury 5 Year Note Futures Contracts		282	Sep 2022	$	31,619,250	$	(21,716	)

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 Appreciation**
Barclays Bank plc		ICE		CDX.NA.HY.38.V2		5.00	%	Quarterly	06/20/27	$	41,431,500	$	1,198,945	$	(143,703	)	$	1,342,648

**	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	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as futures collateral at June 30, 2022.
4	Repurchase Agreements — See Note 4.

CDX.NA.HY.38.V2 — Credit Default Swap North American High Yield Series 38 Index Version 2

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, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	1,071,174	$	—	$	—	$	1,071,174
Federal Agency Discount Notes		—		28,962,486		—		28,962,486
U.S. Treasury Bills		—		221,886		—		221,886
Repurchase Agreements		—		7,132,891		—		7,132,891
Credit Default Swap Agreements**		—		1,342,648		—		1,342,648
Total Assets	$	1,071,174	$	37,659,911	$	—	$	38,731,085

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Interest Rate Futures Contracts**	$	21,716	$	—	$	—	$	21,716

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:

Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	369,264	$	350,000	$	–	$	–	$	(11,732	)	$	707,532		29,310	$	3,529
Guggenheim Ultra Short Duration Fund — Institutional Class		368,917		–		–		–		(5,275	)		363,642		37,683		1,266
	$	738,181	$	350,000	$	–	$	–	$	(17,007	)	$	1,071,174			$	4,795

Inverse Mid-Cap Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 2.8%
Guggenheim Strategy Fund II1		2,020	$	48,763
Guggenheim Ultra Short Duration Fund — Institutional Class1		4,630		44,680
Total Mutual Funds
(Cost $95,671)				93,443

	Face Amount
REPURCHASE AGREEMENTS††,2 - 92.8%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/223	$	1,764,580		1,764,580
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/223		687,192		687,192
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/223		680,388		680,388
Total Repurchase Agreements
(Cost $3,132,160)				3,132,160
Total Investments - 95.6%
(Cost $3,227,831)			$	3,225,603
Other Assets & Liabilities, net - 4.4%				149,239
Total Net Assets - 100.0%			$	3,374,842

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Sold Short†
S&P MidCap 400 Index Mini Futures Contracts		1	Sep 2022	$	226,800	$	3,908

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements Sold Short††
Goldman Sachs International	S&P MidCap 400 Index	Receive	1.68% (Federal Funds Rate + 0.10%)	At Maturity	11/17/22		1,334	$	3,025,891	$	84,796
Barclays Bank plc	S&P MidCap 400 Index	Receive	1.71% (SOFR + 0.20%)	At Maturity	11/16/22		41		92,024		13,520
BNP Paribas	S&P MidCap 400 Index	Receive	1.63% (Federal Funds Rate + 0.05%)	At Maturity	11/17/22		23		53,130		8,780
								$	3,171,045	$	107,096

**	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	Repurchase Agreements — See Note 4.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

Inverse Mid-Cap Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	93,443	$	—	$	—	$	93,443
Repurchase Agreements		—		3,132,160		—		3,132,160
Equity Futures Contracts**		3,908		—		—		3,908
Equity Index Swap Agreements**		—		107,096		—		107,096
Total Assets	$	97,351	$	3,239,256	$	—	$	3,336,607

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:  

Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	49,591	$	–	$	–	$	–	$	(828	)	$	48,763		2,020	$	253
Guggenheim Ultra Short Duration Fund — Institutional Class		45,328		–		–		–		(648	)		44,680		4,630		155
	$	94,919	$	–	$	–	$	–	$	(1,476	)	$	93,443			$	408

Inverse NASDAQ-100® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 4.8%
Guggenheim Strategy Fund II1		49,399	$	1,192,500
Guggenheim Ultra Short Duration Fund — Institutional Class1		87,169		841,177
Total Mutual Funds
(Cost $2,033,556)				2,033,677

	Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 59.0%
Federal Home Loan Bank
1.42% due 07/20/222	$	10,000,000	9,992,505
1.45% due 08/08/222		8,000,000	7,987,756
1.40% due 07/28/222		5,000,000	4,994,750
1.03% due 07/29/222		2,000,000	1,998,398
Total Federal Agency Discount Notes
(Cost $24,973,409)			24,973,409

FEDERAL AGENCY NOTES†† - 11.8%
Federal Home Loan Bank
1.52% (SOFR + 0.01%, Rate Floor: 0.00%) due 09/15/22◊	5,000,000	4,999,870
Total Federal Agency Notes
(Cost $5,000,000)		4,999,870

U.S. GOVERNMENT SECURITIES†† - 4.7%
U.S. Treasury Note
2.00% due 07/31/22	2,000,000	2,001,403
Total U.S. Government Securities
(Cost $2,003,117)		2,001,403

U.S. TREASURY BILLS†† - 0.8%
U.S. Treasury Bills
1.02% due 07/19/222,3	182,000	181,907
U.S. Cash Management Bill
1.34% due 10/04/222,4	160,000	159,238
Total U.S. Treasury Bills
(Cost $341,314)		341,145

REPURCHASE AGREEMENTS††,5 - 13.9%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/224	3,306,508		3,306,508
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/224	1,287,676		1,287,676
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/224	1,274,926		1,274,926
Total Repurchase Agreements
(Cost $5,869,110)			5,869,110
Total Investments - 95.0%
(Cost $40,220,506)		$	40,218,614
Other Assets & Liabilities, net - 5.0%			2,100,405
Total Net Assets - 100.0%		$	42,319,019

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Sold Short†
NASDAQ-100 Index Mini Futures Contracts		1	Sep 2022	$	230,760	$	2,769

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements Sold Short††
BNP Paribas	NASDAQ-100 Index	Receive	1.83% (Federal Funds Rate + 0.25%)	At Maturity	11/17/22	2,034	$	23,403,293	$	3,211,704
Goldman Sachs International	NASDAQ-100 Index	Receive	1.83% (Federal Funds Rate + 0.25%)	At Maturity	11/17/22	1,489		17,134,002		2,129,101
Barclays Bank plc	NASDAQ-100 Index	Receive	1.86% (SOFR + 0.35%)	At Maturity	11/16/22	91		1,043,029		220,916
							$	41,580,324	$	5,561,721

Inverse NASDAQ-100® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
◊	Variable rate security. Rate indicated is the rate effective at June 30, 2022. 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.
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 futures collateral at June 30, 2022.
4	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.
5	Repurchase Agreements — See Note 4.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	2,033,677	$	—	$	—	$	2,033,677
Federal Agency Discount Notes		—		24,973,409		—		24,973,409
Federal Agency Notes		—		4,999,870		—		4,999,870
U.S. Government Securities		—		2,001,403		—		2,001,403
U.S. Treasury Bills		—		341,145		—		341,145
Repurchase Agreements		—		5,869,110		—		5,869,110
Equity Futures Contracts**		2,769		—		—		2,769
Equity Index Swap Agreements**		—		5,561,721		—		5,561,721
Total Assets	$	2,036,446	$	43,746,658	$	—	$	45,783,104

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:

Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,212,754	$	–	$	–	$	–	$	(20,254	)	$	1,192,500		49,399	$	6,180
Guggenheim Ultra Short Duration Fund — Institutional Class		853,381		–		–		–		(12,204	)		841,177		87,169		2,928
	$	2,066,135	$	–	$	–	$	–	$	(32,458	)	$	2,033,677			$	9,108

Inverse Russell 2000® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 13.5%
Guggenheim Strategy Fund II1		39,100	$	943,880
Guggenheim Ultra Short Duration Fund — Institutional Class1		97,310		939,041
Total Mutual Funds
(Cost $1,914,221)				1,882,921

	Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 28.6%
Federal Home Loan Bank
1.40% due 08/03/222	$	2,000,000	1,997,433
1.45% due 08/08/222		2,000,000	1,996,939
Total Federal Agency Discount Notes
(Cost $3,994,372)			3,994,372

FEDERAL AGENCY NOTES†† - 7.1%
Federal Home Loan Bank
1.52% (SOFR + 0.01%, Rate Floor: 0.00%) due 09/15/22◊	1,000,000	999,974
Total Federal Agency Notes
(Cost $1,000,000)		999,974

U.S. TREASURY BILLS†† - 1.0%
U.S. Treasury Bills
1.02% due 07/19/222,3	89,000	88,954
U.S. Cash Management Bill
1.34% due 10/04/222,4	53,000	52,748
Total U.S. Treasury Bills
(Cost $141,758)		141,702

REPURCHASE AGREEMENTS††,5 - 47.6%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/224	3,743,140		3,743,140
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/224	1,457,716		1,457,716
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/224	1,443,284		1,443,284
Total Repurchase Agreements
(Cost $6,644,140)			6,644,140
Total Investments - 97.8%
(Cost $13,694,491)		$	13,663,109
Other Assets & Liabilities, net - 2.2%			300,548
Total Net Assets - 100.0%		$	13,963,657

Futures Contracts      

Description	Number of Contracts	Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Sold Short†
Russell 2000 Index Mini Futures Contracts	16	Sep 2022	$	1,366,800	$	20,096

Total Return Swap Agreements          

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements Sold Short††
Goldman Sachs International	Russell 2000 Index	Receive	1.53% (Federal Funds Rate - 0.05%)	At Maturity	11/17/22	6,538	$	11,167,579	$	1,214,952
BNP Paribas	Russell 2000 Index	Receive	1.38% (Federal Funds Rate - 0.20%)	At Maturity	11/17/22	467		797,424		148,052
Barclays Bank plc	Russell 2000 Index	Receive	1.01% (SOFR - 0.50%)	At Maturity	11/16/22	367		626,462		75,714
							$	12,591,465	$	1,438,718

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
◊	Variable rate security. Rate indicated is the rate effective at June 30, 2022. 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.
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 futures collateral at June 30, 2022.
4	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.
5	Repurchase Agreements — See Note 4.

Inverse Russell 2000® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	1,882,921	$	—	$	—	$	1,882,921
Federal Agency Discount Notes		—		3,994,372		—		3,994,372
Federal Agency Notes		—		999,974		—		999,974
U.S. Treasury Bills		—		141,702		—		141,702
Repurchase Agreements		—		6,644,140		—		6,644,140
Equity Futures Contracts**		20,096		—		—		20,096
Equity Index Swap Agreements**		—		1,438,718		—		1,438,718
Total Assets	$	1,903,017	$	13,218,906	$	—	$	15,121,923

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:

Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22	Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	959,911	$	–	$	–	$	–	$	(16,031	)	$	943,880	39,100	$	4,891
Guggenheim Ultra Short Duration Fund — Institutional Class		952,665		–		–		–		(13,624	)		939,041	97,310		3,269
	$	1,912,576	$	–	$	–	$	–	$	(29,655	)	$	1,882,921		$	8,160

Inverse S&P 500® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 10.9%
Guggenheim Strategy Fund II1		262,625	$	6,339,770
Guggenheim Ultra Short Duration Fund — Institutional Class1		426,990		4,120,456
Total Mutual Funds
(Cost $10,738,042)				10,460,226

	Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 55.8%
Federal Home Loan Bank
1.42% due 07/20/222	$	20,000,000	19,985,011
1.03% due 07/29/222		10,000,000	9,991,989
1.40% due 07/28/222		10,000,000	9,989,500
1.15% due 07/06/222		5,000,000	4,999,201
1.01% due 07/29/222		5,000,000	4,995,994
1.40% due 08/03/222		3,000,000	2,996,150
0.81% due 09/14/222		1,000,000	996,339
Total Federal Agency Discount Notes
(Cost $53,956,158)			53,954,184

FEDERAL AGENCY NOTES†† - 16.6%
Federal Home Loan Bank
1.52% (SOFR + 0.01%, Rate Floor: 0.00%) due 09/15/22◊	10,000,000	9,999,740
1.53% (SOFR + 0.01%, Rate Floor: 0.00%) due 07/14/22◊	5,000,000	5,000,035
Federal Farm Credit Bank
1.57% (1 Year U.S. Prime Rate - 3.18%, Rate Floor: 0.00%) due 10/25/22◊	1,000,000	1,000,102
Total Federal Agency Notes
(Cost $16,000,029)		15,999,877

U.S. TREASURY BILLS†† - 0.3%
U.S. Cash Management Bill
1.34% due 10/04/222,3	310,000	308,524
Total U.S. Treasury Bills
(Cost $308,861)		308,524

REPURCHASE AGREEMENTS††,4 - 15.0%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/223	8,189,728		8,189,728
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/223		3,189,382		3,189,382
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/223		3,157,803		3,157,803
Total Repurchase Agreements
(Cost $14,536,913)				14,536,913
Total Investments - 98.6%
(Cost $95,540,003)			$	95,259,724
Other Assets & Liabilities, net - 1.4%				1,386,772
Total Net Assets - 100.0%			$	96,646,496

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements Sold Short††
Goldman Sachs International	S&P 500 Index	Receive	1.93% (Federal Funds Rate + 0.35%)	At Maturity	11/17/22	21,732	$	82,262,535	$	9,263,120
Barclays Bank plc	S&P 500 Index	Receive	1.81% (SOFR + 0.30%)	At Maturity	11/16/22	3,078		11,650,192		1,047,599
BNP Paribas	S&P 500 Index	Receive	1.78% (Federal Funds Rate + 0.20%)	At Maturity	11/17/22	730		2,764,525		326,410
							$	96,677,252	$	10,637,129

†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
◊	Variable rate security. Rate indicated is the rate effective at June 30, 2022. 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.
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, 2022.
4	Repurchase Agreements — See Note 4.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	10,460,226	$	—	$	—	$	10,460,226
Federal Agency Discount Notes		—		53,954,184		—		53,954,184
Federal Agency Notes		—		15,999,877		—		15,999,877
U.S. Treasury Bills		—		308,524		—		308,524
Repurchase Agreements		—		14,536,913		—		14,536,913
Equity Index Swap Agreements**		—		10,637,129		—		10,637,129
Total Assets	$	10,460,226	$	95,436,627	$	—	$	105,896,853

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:

Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	6,447,447	$	–	$	–	$	–	$	(107,677	)	$	6,339,770		262,625	$	32,852
Guggenheim Ultra Short Duration Fund — Institutional Class		4,180,234		–		–		–		(59,778	)		4,120,456		426,990		14,343
	$	10,627,681	$	–	$	–	$	–	$	(167,455	)	$	10,460,226			$	47,195

Japan 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 29.4%
Guggenheim Ultra Short Duration Fund — Institutional Class1		14,448	$	139,423
Guggenheim Strategy Fund II1		5,636		136,048
Total Mutual Funds
(Cost $283,660)				275,471

	Face Amount
U.S. TREASURY BILLS†† - 27.1%
U.S. Treasury Bills
1.02% due 07/19/222,3	$	254,000	253,870
Total U.S. Treasury Bills
(Cost $253,864)			253,870

REPURCHASE AGREEMENTS††,4 - 44.8%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	236,874		236,874
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		92,247		92,247
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		91,334		91,334
Total Repurchase Agreements
(Cost $420,455)				420,455
Total Investments - 101.3%
(Cost $957,979)			$	949,796
Other Assets & Liabilities, net - (1.3)%				(11,889	)
Total Net Assets - 100.0%			$	937,907

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Currency Futures Contracts Purchased†
Japanese Yen Futures Contracts		20	Sep 2022	$	1,852,250	$	(7,290	)
Equity Futures Contracts Purchased†
Nikkei 225 (CME) Index Futures Contracts		14	Sep 2022		1,850,800		(52,614	)

**	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, 2022.
3	Rate indicated is the effective yield at the time of purchase.
4	Repurchase Agreements — See Note 4.

CME — Chicago Mercantile Exchange

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	275,471	$	—	$	—	$	275,471
U.S. Treasury Bills		—		253,870		—		253,870
Repurchase Agreements		—		420,455		—		420,455
Total Assets	$	275,471	$	674,325	$	—	$	949,796

Japan 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	52,614	$	—	$	—	$	52,614
Currency Futures Contracts**		7,290		—		—		7,290
Total Liabilities	$	59,904	$	—	$	—	$	59,904

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:  

Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22	Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	138,359	$	–	$	–	$	–	$	(2,311	)	$	136,048	5,636	$	705
Guggenheim Ultra Short Duration Fund — Institutional Class		141,446		–		–		–		(2,023	)		139,423	14,448		485
	$	279,805	$	–	$	–	$	–	$	(4,334	)	$	275,471		$	1,190

Leisure Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
Media - 20.1%
Comcast Corp. — Class A		8,333	$	326,987
Walt Disney Co.*		3,292		310,765
Charter Communications, Inc. — Class A*		530		248,321
Warner Bros Discovery, Inc.*		9,990		134,066
Liberty Broadband Corp. — Class C*		984		113,790
Paramount Global — Class B		4,017		99,139
Fox Corp. — Class A		3,057		98,313
DISH Network Corp. — Class A*		4,363		78,229
News Corp. — Class A		4,683		72,961
Cable One, Inc.		55		70,913
Nexstar Media Group, Inc. — Class A		387		63,034
Altice USA, Inc. — Class A*		6,217		57,507
TEGNA, Inc.		2,504		52,509
World Wrestling Entertainment, Inc. — Class A		796		49,742
New York Times Co. — Class A		1,771		49,411
Total Media				1,825,687
Retail - 17.6%
McDonald's Corp.		1,340		330,819
Starbucks Corp.		3,056		233,448
Chipotle Mexican Grill, Inc. — Class A*		111		145,106
Yum! Brands, Inc.		1,220		138,482
Yum China Holdings, Inc.		2,116		102,626
Darden Restaurants, Inc.		801		90,609
Domino's Pizza, Inc.		232		90,413
Restaurant Brands International, Inc.		1,527		76,579
Texas Roadhouse, Inc. — Class A		753		55,120
Wendy's Co.		2,707		51,108
Papa John's International, Inc.		506		42,261
Wingstop, Inc.		489		36,563
Cracker Barrel Old Country Store, Inc.		398		33,229
Shake Shack, Inc. — Class A*		805		31,781
Dave & Buster's Entertainment, Inc.*		952		31,207
Bloomin' Brands, Inc.		1,820		30,248
Cheesecake Factory, Inc.		1,082		28,586
Jack in the Box, Inc.		475		26,628
Brinker International, Inc.*		1,057		23,286
Total Retail				1,598,099
Internet - 12.2%
Netflix, Inc.*		1,179		206,171
Booking Holdings, Inc.*		115		201,134
Airbnb, Inc. — Class A*		2,035		181,278
Sea Ltd. ADR*		2,054		137,330
Trip.com Group Ltd. ADR*		3,954		108,537
Spotify Technology S.A.*		1,072		100,586
Expedia Group, Inc.*		988		93,692
Roku, Inc.*		963		79,101
Total Internet				1,107,829
Entertainment - 10.5%
Live Nation Entertainment, Inc.*		1,281		105,785
Warner Music Group Corp. — Class A		3,564		86,819
Vail Resorts, Inc.		331		72,174
Caesars Entertainment, Inc.*		1,847		70,740
AMC Entertainment Holdings, Inc. — Class A*,1		5,152		69,810
Churchill Downs, Inc.		360		68,951
DraftKings, Inc. — Class A*,1		5,082		59,307
Penn National Gaming, Inc.*		1,932		58,771
Marriott Vacations Worldwide Corp.		479		55,660
Light & Wonder, Inc. — Class A*		1,085		50,984
International Game Technology plc		2,634		48,887
Red Rock Resorts, Inc. — Class A		1,435		47,872
Madison Square Garden Sports Corp. — Class A*		310		46,810
SeaWorld Entertainment, Inc.*		1,050		46,389
Six Flags Entertainment Corp.*		1,673		36,304
Cinemark Holdings, Inc.*		2,181		32,759
Total Entertainment				958,022
Lodging - 10.0%
Marriott International, Inc. — Class A		1,143		155,459
Hilton Worldwide Holdings, Inc.		1,183		131,834
Las Vegas Sands Corp.*		3,819		128,280
MGM Resorts International		3,061		88,616
Hyatt Hotels Corp. — Class A*		918		67,849
Wynn Resorts Ltd.*		1,123		63,989
Wyndham Hotels & Resorts, Inc.		907		59,608
Choice Hotels International, Inc.		527		58,829
Boyd Gaming Corp.		1,134		56,417
Hilton Grand Vacations, Inc.*		1,380		49,307
Travel + Leisure Co.		1,169		45,381
Total Lodging				905,569
Software - 8.0%
Activision Blizzard, Inc.		2,441		190,056
Electronic Arts, Inc.		1,101		133,937
ROBLOX Corp. — Class A*		3,817		125,427
Take-Two Interactive Software, Inc.*		838		102,680
NetEase, Inc. ADR		969		90,466
Bilibili, Inc. ADR*,1		3,109		79,590
Total Software				722,156
Leisure Time - 6.7%
Norwegian Cruise Line Holdings Ltd.*,1		7,816		86,914
Carnival Corp.*		8,861		76,648
Royal Caribbean Cruises Ltd.*		2,148		74,987
Planet Fitness, Inc. — Class A*		935		63,589
Polaris, Inc.		608		60,362
Brunswick Corp.		861		56,292
Harley-Davidson, Inc.		1,710		54,138
Callaway Golf Co.*		2,387		48,695
YETI Holdings, Inc.*		1,118		48,376
Peloton Interactive, Inc. — Class A*		4,587		42,109
Total Leisure Time				612,110

Leisure Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5% (continued)
Agriculture - 6.3%
Philip Morris International, Inc.		2,992	$	295,430
Altria Group, Inc.		4,790		200,078
British American Tobacco plc ADR		1,759		75,479
Total Agriculture				570,987
Beverages - 5.6%
Constellation Brands, Inc. — Class A		700		163,142
Brown-Forman Corp. — Class B		1,981		138,987
Molson Coors Beverage Co. — Class B		1,563		85,199
Anheuser-Busch InBev S.A. ADR		1,355		73,102
Boston Beer Company, Inc. — Class A*		155		46,961
Total Beverages				507,391
Toys, Games & Hobbies - 1.7%
Hasbro, Inc.		1,006		82,371
Mattel, Inc.*		3,094		69,089
Total Toys, Games & Hobbies				151,460
Food Service - 0.8%
Aramark		2,288		70,081
Total Common Stocks
(Cost $7,825,385)				9,029,391

	Face Amount		Value
REPURCHASE AGREEMENTS††,2 - 1.0%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	49,116		49,116
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		19,128		19,128
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		18,938		18,938
Total Repurchase Agreements
(Cost $87,182)				87,182

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 2.6%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		235,385		235,385
Total Securities Lending Collateral
(Cost $235,385)				235,385
Total Investments - 103.1%
(Cost $8,147,952)			$	9,351,958
Other Assets & Liabilities, net - (3.1)%				(278,945	)
Total Net Assets - 100.0%			$	9,073,013

*	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, 2022 — 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, 2022.

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, 2022 (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	$	9,029,391	$	—	$	—	$	9,029,391
Repurchase Agreements		—		87,182		—		87,182
Securities Lending Collateral		235,385		—		—		235,385
Total Assets	$	9,264,776	$	87,182	$	—	$	9,351,958

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 89.2%
Consumer, Non-cyclical - 23.8%
Procter & Gamble Co.		991	$	142,496
Bristol-Myers Squibb Co.1		1,733		133,441
Conagra Brands, Inc.1		3,754		128,537
Vertex Pharmaceuticals, Inc.*,1		453		127,651
Kimberly-Clark Corp.		941		127,176
Abbott Laboratories1		1,161		126,143
Church & Dwight Company, Inc.		1,318		122,126
AmerisourceBergen Corp. — Class A		821		116,155
AbbVie, Inc.1		752		115,176
Constellation Brands, Inc. — Class A		493		114,898
John B Sanfilippo & Son, Inc.1		1,569		113,737
Merck & Company, Inc.1		1,205		109,860
Baxter International, Inc.1		1,706		109,576
Danaher Corp.		420		106,479
Kellogg Co.		1,423		101,517
Perdoceo Education Corp.*		8,433		99,341
Tyson Foods, Inc. — Class A1		1,115		95,957
Amgen, Inc.		369		89,778
Regeneron Pharmaceuticals, Inc.*,1		143		84,532
Prestige Consumer Healthcare, Inc.*		1,430		84,084
Mondelez International, Inc. — Class A		1,305		81,027
Waters Corp.*		234		77,449
Keurig Dr Pepper, Inc.1		2,102		74,390
Hologic, Inc.*,1		1,032		71,518
Edwards Lifesciences Corp.*		725		68,940
FleetCor Technologies, Inc.*		295		61,982
Centene Corp.*		723		61,173
Ingredion, Inc.		656		57,833
Eagle Pharmaceuticals, Inc.*		1,268		56,337
Supernus Pharmaceuticals, Inc.*,1		1,907		55,151
Royalty Pharma plc — Class A		1,279		53,769
Innoviva, Inc.*,1		3,333		49,195
CVS Health Corp.		529		49,017
Pfizer, Inc.		927		48,603
USANA Health Sciences, Inc.*,1		654		47,323
Avery Dennison Corp.		289		46,781
Thermo Fisher Scientific, Inc.		79		42,919
Molson Coors Beverage Co. — Class B1		739		40,283
Amphastar Pharmaceuticals, Inc.*		1,133		39,417
Jazz Pharmaceuticals plc*		227		35,414
Gilead Sciences, Inc.1		566		34,984
Archer-Daniels-Midland Co.		444		34,454
Vanda Pharmaceuticals, Inc.*,1		3,045		33,191
Horizon Therapeutics plc*		406		32,382
SpartanNash Co.		981		29,597
EVERTEC, Inc.1		741		27,328
AMN Healthcare Services, Inc.*		236		25,892
Globus Medical, Inc. — Class A*		420		23,579
Halozyme Therapeutics, Inc.*		527		23,188
Laboratory Corporation of America Holdings		98		22,967
Total Consumer, Non-cyclical				3,654,743
Financial - 16.6%
Global Net Lease, Inc. REIT1		8,360		118,378
Banner Corp.1		2,064		116,017
Northwest Bancshares, Inc.		9,039		115,699
S&T Bancorp, Inc.		4,187		114,849
Preferred Bank/Los Angeles CA		1,650		112,233
National Bank Holdings Corp. — Class A		2,754		105,396
Enstar Group Ltd.*,1		454		97,147
Essent Group Ltd.		2,402		93,438
Weyerhaeuser Co. REIT		2,692		89,159
Corporate Office Properties Trust REIT1		3,302		86,479
Eagle Bancorp, Inc.		1,778		84,295
AMERISAFE, Inc.1		1,496		77,807
MGIC Investment Corp.		6,094		76,784
Kilroy Realty Corp. REIT		1,123		58,767
Safety Insurance Group, Inc.		585		56,803
BankUnited, Inc.		1,596		56,770
Meta Financial Group, Inc.		1,444		55,840
Encore Capital Group, Inc.*		957		55,286
Fidelity National Financial, Inc.		1,484		54,849
Stewart Information Services Corp.1		1,090		54,227
PotlatchDeltic Corp. REIT		1,212		53,558
Vornado Realty Trust REIT		1,838		52,549
Radian Group, Inc.1		2,641		51,896
SL Green Realty Corp. REIT		1,057		48,781
Central Pacific Financial Corp.1		2,057		44,123
Interactive Brokers Group, Inc. — Class A		797		43,843
Office Properties Income Trust REIT		2,197		43,830
Piper Sandler Cos.		375		42,510
United Bankshares, Inc.1		1,205		42,259
EPR Properties REIT		895		42,002
PennyMac Financial Services, Inc.		868		37,940
Lincoln National Corp.		789		36,902
NMI Holdings, Inc. — Class A*		2,088		34,765
OneMain Holdings, Inc.		926		34,614
Citigroup, Inc.		737		33,895
Trustmark Corp.1		1,159		33,831
HomeStreet, Inc.		941		32,624
Bread Financial Holdings, Inc.		850		31,501
LTC Properties, Inc. REIT		783		30,059
Primerica, Inc.		233		27,888
Visa, Inc. — Class A		140		27,564
Reinsurance Group of America, Inc. — Class A		215		25,217
American Express Co.		156		21,625
Total Financial				2,553,999
Industrial - 11.5%
OSI Systems, Inc.*		1,398		119,445
Keysight Technologies, Inc.*		829		114,278
Vishay Intertechnology, Inc.1		5,897		105,084
Packaging Corporation of America		753		103,537
Vontier Corp.		4,378		100,650
Garmin Ltd.		1,004		98,643
Nordson Corp.		477		96,564
Standex International Corp.1		1,046		88,680

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 89.2% (continued)
Amcor plc		6,318	$	78,533
Knowles Corp.*		4,529		78,487
Sturm Ruger & Company, Inc.1		1,229		78,226
Eagle Materials, Inc.		643		70,691
Energizer Holdings, Inc.1		2,186		61,973
Brady Corp. — Class A		1,290		60,940
Sealed Air Corp.		975		56,277
Werner Enterprises, Inc.1		1,354		52,183
Allegion plc		523		51,202
Fortune Brands Home & Security, Inc.		804		48,144
Snap-on, Inc.		217		42,756
Westinghouse Air Brake Technologies Corp.		441		36,197
Louisiana-Pacific Corp.1		620		32,494
Dorian LPG Ltd.1		1,943		29,534
Schneider National, Inc. — Class B		1,245		27,863
Sanmina Corp.*,1		622		25,334
Mueller Industries, Inc.1		467		24,886
Encore Wire Corp.		235		24,421
Insteel Industries, Inc.		705		23,738
Forward Air Corp.		249		22,898
Atlas Air Worldwide Holdings, Inc.*		336		20,735
Total Industrial				1,774,393
Technology - 9.2%
Apple, Inc.1		1,007		137,677
Genpact Ltd.		2,674		113,271
NetApp, Inc.1		1,713		111,756
CSG Systems International, Inc.1		1,809		107,961
Cirrus Logic, Inc.*		1,465		106,271
Microsoft Corp.1		400		102,732
Semtech Corp.*		1,431		78,662
Oracle Corp.1		1,028		71,826
Micron Technology, Inc.1		1,259		69,597
Cadence Design Systems, Inc.*		444		66,613
Qorvo, Inc.*,1		510		48,103
Salesforce, Inc.*		279		46,046
Xperi Holding Corp.		3,034		43,781
Rambus, Inc.*,1		2,024		43,496
QUALCOMM, Inc.		316		40,366
International Business Machines Corp.		256		36,144
NetScout Systems, Inc.*		995		33,681
Lumentum Holdings, Inc.*		376		29,862
NXP Semiconductor N.V.		189		27,978
Lam Research Corp.		61		25,995
Applied Materials, Inc.		267		24,292
Accenture plc — Class A		79		21,934
Concentrix Corp.		149		20,211
Total Technology				1,408,255
Utilities - 8.5%
Southern Co.		1,676		119,516
Xcel Energy, Inc.		1,642		116,188
NorthWestern Corp.		1,966		115,856
OGE Energy Corp.		2,940		113,366
MGE Energy, Inc.1		1,406		109,429
National Fuel Gas Co.1		1,608		106,208
IDACORP, Inc.1		991		104,967
Chesapeake Utilities Corp.1		789		102,215
PPL Corp.1		3,135		85,053
Otter Tail Corp.1		1,156		77,602
WEC Energy Group, Inc.		662		66,624
Portland General Electric Co.1		1,337		64,617
Hawaiian Electric Industries, Inc.1		1,309		53,538
UGI Corp.1		871		33,629
California Water Service Group1		565		31,386
Total Utilities				1,300,194
Communications - 5.1%
Verizon Communications, Inc.1		2,637		133,828
Alphabet, Inc. — Class C*,1		55		120,310
InterDigital, Inc.1		1,814		110,291
Meta Platforms, Inc. — Class A*,1		566		91,267
T-Mobile US, Inc.*,1		623		83,818
Gogo, Inc.*,1		2,957		47,874
Viavi Solutions, Inc.*,1		3,318		43,897
Amazon.com, Inc.*		375		39,829
Juniper Networks, Inc.		1,316		37,506
Comcast Corp. — Class A		924		36,258
NETGEAR, Inc.*		1,227		22,724
Fox Corp. — Class A		701		22,544
Total Communications				790,146
Consumer, Cyclical - 5.1%
MSC Industrial Direct Company, Inc. — Class A		1,220		91,634
Whirlpool Corp.		564		87,347
Lowe's Companies, Inc.1		499		87,160
Columbia Sportswear Co.1		821		58,767
Choice Hotels International, Inc.		475		53,024
Walgreens Boots Alliance, Inc.		1,370		51,923
Methode Electronics, Inc.		1,370		50,745
Home Depot, Inc.		185		50,740
Allison Transmission Holdings, Inc.1		1,241		47,716
NIKE, Inc. — Class B1		382		39,041
Alaska Air Group, Inc.*		833		33,362
Tesla, Inc.*,1		42		28,284
YETI Holdings, Inc.*		624		27,000
Tri Pointe Homes, Inc.*,1		1,555		26,233
Thor Industries, Inc.1,2		328		24,512
Winnebago Industries, Inc.		497		24,134
Total Consumer, Cyclical				781,622
Basic Materials - 5.0%
Minerals Technologies, Inc.		1,757		107,774
International Paper Co.1		2,557		106,959
HB Fuller Co.		1,649		99,286
Dow, Inc.1		1,851		95,530
LyondellBasell Industries N.V. — Class A		1,091		95,419
Southern Copper Corp.1		984		49,013
Westlake Corp.		482		47,246
Balchem Corp.		362		46,966
Huntsman Corp.		1,384		39,237
NewMarket Corp.		109		32,805
Ingevity Corp.*		510		32,201
AdvanSix, Inc.		509		17,021
Total Basic Materials				769,457

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 89.2% (continued)
Energy - 4.4%
Exxon Mobil Corp.1		1,457	$	124,777
Williams Companies, Inc.		3,291		102,712
Chevron Corp.		640		92,659
Kinder Morgan, Inc.1		3,753		62,900
Targa Resources Corp.1		710		42,366
Valero Energy Corp.1		360		38,261
Antero Midstream Corp.1		4,205		38,055
Equitrans Midstream Corp.1		5,086		32,347
DT Midstream, Inc.		646		31,667
ONEOK, Inc.		521		28,916
SunCoke Energy, Inc.1		3,975		27,070
Phillips 66		326		26,729
Occidental Petroleum Corp.		423		24,906
Total Energy				673,365
Total Common Stocks
(Cost $14,464,524)				13,706,174

MONEY MARKET FUND† - 3.1%
Invesco Short-Term Investments Trust Treasury Obligations Portfolio — Institutional Class, 0.00%3	475,887	475,887
Total Money Market Fund
(Cost $475,887)		475,887

SECURITIES LENDING COLLATERAL†,4 - 0.1%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%3	9,797		9,797
Total Securities Lending Collateral
(Cost $9,797)			9,797
Total Investments - 92.4%
(Cost $14,950,208)		$	14,191,858
Other Assets & Liabilities, net - 7.6%			1,168,930
Total Net Assets - 100.0%		$	15,360,788

Custom Basket Swap Agreements
Counterparty	Reference Obligation	Type	Financing Rate	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	Pay	1.98% (Federal Funds Rate + 0.40%)	At Maturity	03/27/24	$	6,986,429	$	(433,683	)
Goldman Sachs International	GS Equity Custom Basket	Pay	2.03% (Federal Funds Rate + 0.45%)	At Maturity	05/06/24		6,986,419		(441,163	)
						$	13,972,848	$	(874,846	)
OTC Custom Basket Swap Agreements Sold Short††
Goldman Sachs International	GS Equity Custom Basket	Receive	1.38% (Federal Funds Rate - 0.20%)	At Maturity	05/06/24	$	7,597,509	$	967,520
Morgan Stanley Capital Services LLC	MS Equity Custom Basket	Receive	1.28% (Federal Funds Rate - 0.30%)	At Maturity	03/27/24		7,585,352		957,824
						$	15,182,861	$	1,925,344

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

GS EQUITY LONG CUSTOM BASKET
	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Consumer, Non-cyclical
Bristol-Myers Squibb Co.		884		0.97	%	$	13,313
AbbVie, Inc.		383		0.84	%		12,349
Vertex Pharmaceuticals, Inc.		231		0.93	%		9,429
Amphastar Pharmaceuticals, Inc.		578		0.29	%		8,806
Merck & Company, Inc.		614		0.80	%		7,285
Prestige Consumer Healthcare, Inc.		729		0.61	%		6,683
Molson Coors Beverage Co. — Class B		377		0.29	%		6,076
Waters Corp.		119		0.56	%		5,062
Perdoceo Education Corp.		4,301		0.73	%		4,132
Church & Dwight Company, Inc.		672		0.89	%		3,136
Royalty Pharma plc — Class A		652		0.39	%		2,113
Innoviva, Inc.		1,700		0.36	%		2,105
Kellogg Co.		726		0.74	%		1,530
Regeneron Pharmaceuticals, Inc.		73		0.62	%		972
AMN Healthcare Services, Inc.		120		0.19	%		918
Eagle Pharmaceuticals, Inc.		646		0.41	%		667
Supernus Pharmaceuticals, Inc.		972		0.40	%		615
Centene Corp.		369		0.45	%		600
Pfizer, Inc.		473		0.35	%		547
Jazz Pharmaceuticals plc		115		0.26	%		428
Hologic, Inc.		526		0.52	%		(251	)
Kimberly-Clark Corp.		480		0.93	%		(362	)
Amgen, Inc.		188		0.65	%		(453	)
Thermo Fisher Scientific, Inc.		40		0.31	%		(467	)
Gilead Sciences, Inc.		289		0.26	%		(651	)
Danaher Corp.		214		0.78	%		(652	)
Halozyme Therapeutics, Inc.		269		0.17	%		(679	)
Globus Medical, Inc. — Class A		214		0.17	%		(1,202	)
Mondelez International, Inc. — Class A		666		0.59	%		(1,255	)
Avery Dennison Corp.		147		0.34	%		(1,513	)
Keurig Dr Pepper, Inc.		1,072		0.54	%		(1,580	)
Conagra Brands, Inc.		1,914		0.94	%		(1,591	)
Ingredion, Inc.		334		0.42	%		(1,678	)
CVS Health Corp.		269		0.36	%		(1,777	)
SpartanNash Co.		500		0.22	%		(1,937	)
Laboratory Corporation of America Holdings		50		0.17	%		(2,034	)
Edwards Lifesciences Corp.		370		0.50	%		(2,045	)
Tyson Foods, Inc. — Class A		569		0.70	%		(2,161	)
AmerisourceBergen Corp. — Class A		419		0.85	%		(2,411	)
Archer-Daniels-Midland Co.		226		0.25	%		(2,588	)
EVERTEC, Inc.		378		0.20	%		(2,944	)
Constellation Brands, Inc. — Class A		251		0.84	%		(4,052	)
Procter & Gamble Co.		505		1.04	%		(5,328	)
FleetCor Technologies, Inc.		150		0.45	%		(5,648	)
Horizon Therapeutics plc		207		0.24	%		(6,604	)
USANA Health Sciences, Inc.		333		0.34	%		(7,408	)
Abbott Laboratories		592		0.92	%		(7,584	)
Vanda Pharmaceuticals, Inc.		1,553		0.24	%		(7,599	)
John B Sanfilippo & Son, Inc.		800		0.83	%		(9,886	)
Baxter International, Inc.		870		0.80	%		(13,271	)
Total Consumer, Non-cyclical							(10,845	)
Basic Materials
Ingevity Corp.		260		0.23	%		(20	)
NewMarket Corp.		55		0.24	%		(732	)
Balchem Corp.		185		0.34	%		(816	)
Westlake Corp.		246		0.35	%		(2,580	)
AdvanSix, Inc.		260		0.12	%		(3,649	)
Minerals Technologies, Inc.		896		0.79	%		(3,839	)
Dow, Inc.		944		0.70	%		(4,969	)
HB Fuller Co.		841		0.72	%		(5,358	)
Huntsman Corp.		706		0.29	%		(5,472	)
International Paper Co.		1,304		0.78	%		(8,015	)
LyondellBasell Industries N.V. — Class A		556		0.70	%		(8,161	)
Southern Copper Corp.		502		0.36	%		(12,008	)
Total Basic Materials							(55,619	)
Consumer, Cyclical
Allison Transmission Holdings, Inc.		633		0.35	%		1,419
Winnebago Industries, Inc.		253		0.18	%		(236	)
Thor Industries, Inc.		167		0.18	%		(367	)
YETI Holdings, Inc.		318		0.20	%		(1,149	)
Tri Pointe Homes, Inc.		793		0.19	%		(1,911	)
Home Depot, Inc.		94		0.37	%		(2,219	)
Tesla, Inc.		21		0.20	%		(3,625	)
Methode Electronics, Inc.		698		0.37	%		(4,190	)
MSC Industrial Direct Company, Inc. — Class A		622		0.67	%		(4,290	)
Alaska Air Group, Inc.		425		0.24	%		(4,420	)
Choice Hotels International, Inc.		242		0.39	%		(4,462	)
NIKE, Inc. — Class B		195		0.29	%		(4,792	)
Walgreens Boots Alliance, Inc.		698		0.38	%		(4,947	)
Columbia Sportswear Co.		418		0.43	%		(7,276	)
Lowe's Companies, Inc.		254		0.64	%		(8,097	)
Whirlpool Corp.		288		0.64	%		(10,327	)
Total Consumer, Cyclical							(60,889	)
Financial
Safety Insurance Group, Inc.		298		0.41	%		5,534
LTC Properties, Inc.		399		0.22	%		2,483
Northwest Bancshares, Inc.		4,610		0.84	%		2,476
Banner Corp.		1,053		0.85	%		1,261
United Bankshares, Inc.		615		0.31	%		154

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Preferred Bank/Los Angeles CA		841		0.82	%	$	(211	)
Primerica, Inc.		118		0.20	%		(743	)
Global Net Lease, Inc.		4,264		0.86	%		(749	)
Reinsurance Group of America, Inc. — Class A		109		0.18	%		(894	)
Trustmark Corp.		591		0.25	%		(927	)
Office Properties Income Trust		1,120		0.32	%		(1,122	)
Visa, Inc. — Class A		71		0.20	%		(1,189	)
Corporate Office Properties Trust		1,684		0.63	%		(1,197	)
EPR Properties		456		0.31	%		(1,490	)
PennyMac Financial Services, Inc.		443		0.28	%		(1,614	)
S&T Bancorp, Inc.		2,135		0.84	%		(1,772	)
Encore Capital Group, Inc.		488		0.40	%		(1,872	)
NMI Holdings, Inc. — Class A		1,065		0.25	%		(2,186	)
American Express Co.		80		0.16	%		(2,336	)
Kilroy Realty Corp.		572		0.43	%		(3,277	)
AMERISAFE, Inc.		763		0.57	%		(3,443	)
Enstar Group Ltd.		231		0.71	%		(3,561	)
Radian Group, Inc.		1,347		0.38	%		(3,564	)
Citigroup, Inc.		376		0.25	%		(3,607	)
Piper Sandler Cos.		191		0.31	%		(3,728	)
Fidelity National Financial, Inc.		757		0.40	%		(3,856	)
Lincoln National Corp.		402		0.27	%		(4,032	)
Vornado Realty Trust		937		0.38	%		(4,037	)
Interactive Brokers Group, Inc. — Class A		406		0.32	%		(4,844	)
MGIC Investment Corp.		3,108		0.56	%		(5,079	)
BankUnited, Inc.		814		0.41	%		(5,314	)
Stewart Information Services Corp.		556		0.40	%		(5,415	)
National Bank Holdings Corp. — Class A		1,405		0.77	%		(5,719	)
Eagle Bancorp, Inc.		907		0.62	%		(5,769	)
Central Pacific Financial Corp.		1,049		0.32	%		(5,819	)
SL Green Realty Corp.		539		0.36	%		(6,068	)
PotlatchDeltic Corp.		618		0.39	%		(6,095	)
OneMain Holdings, Inc.		472		0.25	%		(6,163	)
HomeStreet, Inc.		480		0.24	%		(6,705	)
Essent Group Ltd.		1,225		0.68	%		(7,118	)
Bread Financial Holdings, Inc.		433		0.23	%		(7,647	)
Weyerhaeuser Co.		1,373		0.65	%		(8,608	)
Meta Financial Group, Inc.		736		0.41	%		(12,259	)
Total Financial							(138,121	)
Communications
Alphabet, Inc. — Class C		28		0.88	%		13,413
Viavi Solutions, Inc.		1,692		0.32	%		1,757
T-Mobile US, Inc.		318		0.61	%		367
Fox Corp. — Class A		357		0.16	%		(1,099	)
Juniper Networks, Inc.		671		0.27	%		(1,382	)
Comcast Corp. — Class A		471		0.26	%		(1,869	)
Amazon.com, Inc.		191		0.29	%		(3,010	)
Gogo, Inc.		1,508		0.35	%		(3,051	)
Verizon Communications, Inc.		1,345		0.98	%		(3,258	)
InterDigital, Inc.		925		0.80	%		(4,849	)
NETGEAR, Inc.		626		0.17	%		(4,974	)
Meta Platforms, Inc. — Class A		288		0.66	%		(5,768	)
Total Communications							(13,723	)
Energy
Occidental Petroleum Corp.		215		0.18	%		(1,077	)
ONEOK, Inc.		266		0.21	%		(2,562	)
Phillips 66		166		0.19	%		(2,756	)
DT Midstream, Inc.		330		0.23	%		(2,932	)
Kinder Morgan, Inc.		1,914		0.46	%		(3,773	)
Antero Midstream Corp.		2,145		0.28	%		(3,817	)
SunCoke Energy, Inc.		2,028		0.20	%		(4,135	)
Equitrans Midstream Corp.		2,594		0.24	%		(5,296	)
Targa Resources Corp.		362		0.31	%		(5,989	)
Williams Companies, Inc.		1,679		0.75	%		(6,887	)
Valero Energy Corp.		183		0.28	%		(7,303	)
Exxon Mobil Corp.		743		0.91	%		(9,659	)
Chevron Corp.		326		0.68	%		(10,380	)
Total Energy							(66,566	)
Technology
Apple, Inc.		513		1.00	%		19,358
Microsoft Corp.		204		0.75	%		18,928
CSG Systems International, Inc.		923		0.79	%		12,522
NetScout Systems, Inc.		508		0.25	%		1,372
Cadence Design Systems, Inc.		226		0.49	%		466
NetApp, Inc.		873		0.82	%		434
International Business Machines Corp.		130		0.26	%		46
Rambus, Inc.		1,032		0.32	%		(385	)
Accenture plc — Class A		40		0.16	%		(683	)
Lumentum Holdings, Inc.		191		0.22	%		(1,599	)
Concentrix Corp.		76		0.15	%		(1,765	)
QUALCOMM, Inc.		161		0.29	%		(1,852	)
Lam Research Corp.		31		0.19	%		(2,208	)
NXP Semiconductor N.V.		96		0.20	%		(2,827	)
Applied Materials, Inc.		136		0.18	%		(3,126	)
Salesforce, Inc.		142		0.34	%		(3,409	)
Genpact Ltd.		1,364		0.83	%		(3,537	)
Oracle Corp.		524		0.52	%		(4,024	)
Semtech Corp.		729		0.57	%		(4,542	)
Qorvo, Inc.		260		0.35	%		(5,195	)
Cirrus Logic, Inc.		747		0.78	%		(7,129	)
Xperi Holding Corp.		1,547		0.32	%		(7,339	)
Micron Technology, Inc.		642		0.51	%		(11,844	)
Total Technology							(8,338	)
Industrial
OSI Systems, Inc.		713		0.87	%		4,033
Mueller Industries, Inc.		238		0.18	%		2,571
Dorian LPG Ltd.		991		0.22	%		2,478
Amcor plc		3,223		0.57	%		1,800
Sanmina Corp.		317		0.18	%		694
Schneider National, Inc. — Class B		635		0.20	%		550
Werner Enterprises, Inc.		690		0.38	%		358
Brady Corp. — Class A		658		0.44	%		(664	)
Forward Air Corp.		127		0.17	%		(1,027	)
Insteel Industries, Inc.		359		0.17	%		(1,568	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Atlas Air Worldwide Holdings, Inc.		171		0.15	%	$	(1,727	)
Energizer Holdings, Inc.		1,115		0.45	%		(1,744	)
Allegion plc		266		0.37	%		(2,470	)
Westinghouse Air Brake Technologies Corp.		225		0.26	%		(2,655	)
Snap-on, Inc.		110		0.31	%		(2,792	)
Garmin Ltd.		512		0.72	%		(2,818	)
Louisiana-Pacific Corp.		316		0.24	%		(3,568	)
Fortune Brands Home & Security, Inc.		410		0.35	%		(3,825	)
Sealed Air Corp.		497		0.41	%		(3,988	)
Sturm Ruger & Company, Inc.		626		0.57	%		(4,187	)
Vishay Intertechnology, Inc.		3,008		0.77	%		(4,339	)
Nordson Corp.		243		0.70	%		(4,358	)
Knowles Corp.		2,310		0.57	%		(4,694	)
Encore Wire Corp.		120		0.18	%		(4,852	)
Eagle Materials, Inc.		328		0.52	%		(5,073	)
Standex International Corp.		533		0.65	%		(5,481	)
Keysight Technologies, Inc.		423		0.83	%		(6,200	)
Packaging Corporation of America		384		0.76	%		(6,598	)
Vontier Corp.		2,233		0.73	%		(12,202	)
Total Industrial							(74,346	)
Utilities
IDACORP, Inc.		505		0.74	%		3,756
Chesapeake Utilities Corp.		402		0.75	%		2,947
Otter Tail Corp.		590		0.57	%		2,494
MGE Energy, Inc.		717		0.80	%		1,030
Portland General Electric Co.		682		0.47	%		(746	)
WEC Energy Group, Inc.		337		0.49	%		(964	)
National Fuel Gas Co.		820		0.78	%		(1,167	)
California Water Service Group		288		0.23	%		(1,829	)
Hawaiian Electric Industries, Inc.		668		0.39	%		(1,834	)
NorthWestern Corp.		1,003		0.85	%		(1,955	)
UGI Corp.		444		0.25	%		(2,379	)
Xcel Energy, Inc.		837		0.85	%		(2,389	)
Southern Co.		855		0.87	%		(2,493	)
PPL Corp.		1,599		0.62	%		(3,584	)
OGE Energy Corp.		1,500		0.83	%		(3,603	)
Total Utilities							(12,716	)
Total GS Equity Long Custom Basket						$	(441,163	)

GS EQUITY SHORT CUSTOM BASKET
	Shares	Percentage Notional Amount	Value and Unrealized Appreciation (Depreciation)
Consumer, Non-cyclical
ASGN, Inc.	865	(1.03)%	25,966
Equifax, Inc.	443	(1.07)%	21,773
CoStar Group, Inc.	1,943	(1.54)%	19,516
TransUnion	520	(0.55)%	17,051
Cintas Corp.	298	(1.47)%	14,416
Verisk Analytics, Inc. — Class A	380	(0.87)%	12,982
Universal Health Services, Inc. — Class B	456	(0.60)%	9,041
Dun & Bradstreet Holdings, Inc.	2,161	(0.43)%	8,439
Cal-Maine Foods, Inc.	1,290	(0.84)%	7,816
Intuitive Surgical, Inc.	235	(0.62)%	4,615
ManpowerGroup, Inc.	271	(0.27)%	3,922
ABM Industries, Inc.	707	(0.40)%	3,355
Viad Corp.	957	(0.35)%	2,418
Driven Brands Holdings, Inc.	2,524	(0.91)%	2,197
Quanta Services, Inc.	376	(0.62)%	2,179
Acadia Healthcare Company, Inc.	791	(0.70)%	1,922
Mister Car Wash, Inc.	992	(0.14)%	1,419
Patterson Companies, Inc.	1,613	(0.64)%	480
Coca-Cola Co.	1,665	(1.38)%	315
Lamb Weston Holdings, Inc.	693	(0.65)%	(5,976	)
Total Consumer, Non-cyclical			153,846
Financial
State Street Corp.	1,630	(1.32)%	33,297
Park Hotels & Resorts, Inc.	5,447	(0.97)%	32,403
Outfront Media, Inc.	3,871	(0.86)%	28,983
Howard Hughes Corp.	1,216	(1.09)%	24,353
Western Alliance Bancorporation	849	(0.79)%	23,694
Signature Bank	232	(0.55)%	22,752
Kite Realty Group Trust	5,008	(1.14)%	21,803
RLJ Lodging Trust	7,034	(1.02)%	21,168
Equitable Holdings, Inc.	3,188	(1.09)%	20,412
Kennedy-Wilson Holdings, Inc.	5,364	(1.34)%	19,276
Equinix, Inc.	117	(1.01)%	17,901
Safehold, Inc.	1,025	(0.48)%	17,437
Bank of America Corp.	1,894	(0.78)%	16,313
Invitation Homes, Inc.	2,639	(1.24)%	15,835
Alexandria Real Estate Equities, Inc.	263	(0.50)%	15,192
Ares Management Corp. — Class A	692	(0.52)%	15,096
BOK Financial Corp.	382	(0.38)%	14,627
Morgan Stanley	1,844	(1.85)%	14,047
Northern Trust Corp.	794	(1.01)%	12,757
Americold Realty Trust, Inc.	2,023	(0.80)%	12,314
KKR & Company, Inc. — Class A	1,120	(0.68)%	11,450
Crown Castle International Corp.	470	(1.04)%	10,656
Ryman Hospitality Properties, Inc.	819	(0.82)%	10,494
Wells Fargo & Co.	1,780	(0.92)%	9,136
Xenia Hotels & Resorts, Inc.	2,859	(0.55)%	8,341
Host Hotels & Resorts, Inc.	4,972	(1.03)%	8,212
Sunstone Hotel Investors, Inc.	4,382	(0.57)%	7,873
SBA Communications Corp.	186	(0.78)%	7,641
Sun Communities, Inc.	635	(1.33)%	7,067
Fulton Financial Corp.	6,472	(1.23)%	6,741
Regions Financial Corp.	3,325	(0.82)%	6,679

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares			Value and Unrealized Appreciation (Depreciation)
Raymond James Financial, Inc.	809	(0.95)%	$	5,975
Welltower, Inc.	1,120	(1.21)%		5,309
EastGroup Properties, Inc.	437	(0.89)%		5,069
JPMorgan Chase & Co.	271	(0.40)%		4,292
Equity LifeStyle Properties, Inc.	1,166	(1.08)%		3,599
Popular, Inc.	626	(0.63)%		3,369
Assured Guaranty Ltd.	892	(0.66)%		3,283
UMB Financial Corp.	676	(0.77)%		3,246
SLM Corp.	2,772	(0.58)%		3,119
Rayonier, Inc.	717	(0.35)%		2,308
Public Storage	79	(0.33)%		2,099
Camden Property Trust	301	(0.53)%		1,775
Extra Space Storage, Inc.	287	(0.64)%		1,549
Digital Realty Trust, Inc.	277	(0.47)%		1,301
AvalonBay Communities, Inc.	174	(0.44)%		1,214
Iron Mountain, Inc.	1,621	(1.04)%		749
UDR, Inc.	832	(0.50)%		553
Arthur J Gallagher & Co.	317	(0.68)%		(351	)
American Tower Corp. — Class A	385	(1.30)%		(2,877	)
Total Financial				539,531
Consumer, Cyclical
MillerKnoll, Inc.	2,450	(0.85)%		26,250
Caesars Entertainment, Inc.	792	(0.40)%		24,177
American Airlines Group, Inc.	3,187	(0.53)%		16,245
Copart, Inc.	603	(0.86)%		14,321
Wyndham Hotels & Resorts, Inc.	871	(0.75)%		12,568
Hilton Worldwide Holdings, Inc.	345	(0.51)%		12,066
Floor & Decor Holdings, Inc. — Class A	409	(0.34)%		4,914
WESCO International, Inc.	328	(0.46)%		3,948
CarMax, Inc.	315	(0.38)%		3,714
Las Vegas Sands Corp.	1,266	(0.56)%		2,836
Lululemon Athletica, Inc.	81	(0.29)%		2,422
IAA, Inc.	1,059	(0.46)%		2,086
Lear Corp.	187	(0.31)%		498
Healthcare Services Group, Inc.	2,932	(0.67)%		(1,134	)
Total Consumer, Cyclical				124,911
Technology
ZoomInfo Technologies, Inc. — Class A	602	(0.26)%		12,415
ANSYS, Inc.	203	(0.64)%		4,197
Broadridge Financial Solutions, Inc.	822	(1.54)%		2,604
Duolingo, Inc.	126	(0.15)%		1,699
KBR, Inc.	540	(0.34)%		(2,780	)
Veeva Systems, Inc. — Class A	288	(0.75)%		(6,117	)
Total Technology				12,018
Utilities
Edison International	1,719	(1.43)%		11,109
Public Service Enterprise Group, Inc.	1,742	(1.45)%		7,686
Entergy Corp.	997	(1.48)%		5,909
New Jersey Resources Corp.	1,584	(0.93)%		3,291
NextEra Energy, Inc.	516	(0.53)%		918
ONE Gas, Inc.	1,093	(1.17)%		(4,187	)
Spire, Inc.	1,126	(1.10)%		(5,887	)
Atmos Energy Corp.	876	(1.29)%		(9,053	)
Total Utilities				9,786
Energy
Helmerich & Payne, Inc.	1,034	(0.59)%		6,120
Patterson-UTI Energy, Inc.	3,853	(0.80)%		5,755
Hess Corp.	398	(0.55)%		4,824
Baker Hughes Co.	1,201	(0.46)%		3,634
NOV, Inc.	2,435	(0.54)%		(8,046	)
Halliburton Co.	2,819	(1.16)%		(23,873	)
Total Energy				(11,586	)
Industrial
Stericycle, Inc.	2,281	(1.32)%		50,460
Stanley Black & Decker, Inc.	613	(0.85)%		20,520
Teledyne Technologies, Inc.	137	(0.68)%		14,521
Jacobs Engineering Group, Inc.	881	(1.47)%		11,244
Trimble, Inc.	803	(0.62)%		11,199
Johnson Controls International plc	598	(0.38)%		9,294
EnerSys	830	(0.64)%		7,800
TD SYNNEX Corp.	668	(0.80)%		6,856
Illinois Tool Works, Inc.	238	(0.57)%		6,022
Deere & Co.	100	(0.39)%		5,943
Waste Management, Inc.	740	(1.49)%		4,468
GATX Corp.	318	(0.39)%		4,314
Rockwell Automation, Inc.	201	(0.53)%		3,449
Union Pacific Corp.	193	(0.54)%		1,679
Coherent, Inc.	154	(0.54)%		431
Howmet Aerospace, Inc.	2,420	(1.00)%		339
Carlisle Companies, Inc.	168	(0.53)%		(247	)
TransDigm Group, Inc.	87	(0.61)%		(639	)
Exponent, Inc.	555	(0.67)%		(941	)
Tetra Tech, Inc.	616	(1.11)%		(9,030	)
Republic Services, Inc. — Class A	891	(1.55)%		(9,815	)
Casella Waste Systems, Inc. — Class A	1,006	(0.96)%		(9,871	)
Total Industrial				127,996
Communications
Uber Technologies, Inc.	1,050	(0.28)%		5,529
Walt Disney Co.	407	(0.51)%		5,489
Total Communications				11,018
Total GS Equity Short Custom Basket			$	967,520

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

MS EQUITY LONG CUSTOM BASKET
	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Consumer, Non-cyclical
Bristol-Myers Squibb Co.		884		0.94	%	$	13,297
AbbVie, Inc.		383		0.84	%		12,341
Vertex Pharmaceuticals, Inc.		231		0.93	%		9,523
Amphastar Pharmaceuticals, Inc.		578		0.29	%		8,814
Merck & Company, Inc.		614		0.80	%		7,293
Prestige Consumer Healthcare, Inc.		729		0.61	%		6,697
Molson Coors Beverage Co. — Class B		377		0.29	%		6,115
Waters Corp.		119		0.56	%		5,051
Perdoceo Education Corp.		4,301		0.73	%		4,189
Church & Dwight Company, Inc.		672		0.89	%		3,200
Innoviva, Inc.		1,700		0.36	%		2,221
Royalty Pharma plc — Class A		652		0.39	%		2,104
Kellogg Co.		726		0.74	%		1,604
Regeneron Pharmaceuticals, Inc.		73		0.62	%		961
AMN Healthcare Services, Inc.		120		0.19	%		929
Eagle Pharmaceuticals, Inc.		646		0.41	%		807
Centene Corp.		369		0.45	%		725
Pfizer, Inc.		473		0.35	%		616
Supernus Pharmaceuticals, Inc.		972		0.40	%		600
Jazz Pharmaceuticals plc		115		0.26	%		465
Hologic, Inc.		526		0.52	%		(288	)
Amgen, Inc.		188		0.65	%		(366	)
Kimberly-Clark Corp.		480		0.93	%		(391	)
Thermo Fisher Scientific, Inc.		40		0.31	%		(393	)
Gilead Sciences, Inc.		289		0.26	%		(662	)
Halozyme Therapeutics, Inc.		269		0.17	%		(676	)
Danaher Corp.		214		0.78	%		(722	)
Mondelez International, Inc. — Class A		666		0.59	%		(1,205	)
Globus Medical, Inc. — Class A		214		0.17	%		(1,216	)
Avery Dennison Corp.		147		0.34	%		(1,538	)
Keurig Dr Pepper, Inc.		1,072		0.54	%		(1,569	)
Conagra Brands, Inc.		1,914		0.94	%		(1,652	)
Ingredion, Inc.		334		0.42	%		(1,698	)
CVS Health Corp.		269		0.36	%		(1,787	)
SpartanNash Co.		500		0.22	%		(1,994	)
Laboratory Corporation of America Holdings		50		0.17	%		(2,057	)
Edwards Lifesciences Corp.		370		0.50	%		(2,108	)
AmerisourceBergen Corp. — Class A		419		0.85	%		(2,176	)
Tyson Foods, Inc. — Class A		569		0.70	%		(2,222	)
Archer-Daniels-Midland Co.		226		0.25	%		(2,506	)
EVERTEC, Inc.		378		0.20	%		(2,923	)
Constellation Brands, Inc. — Class A		251		0.84	%		(4,062	)
Procter & Gamble Co.		505		1.04	%		(5,369	)
FleetCor Technologies, Inc.		150		0.45	%		(5,629	)
Horizon Therapeutics plc		207		0.24	%		(6,608	)
USANA Health Sciences, Inc.		333		0.34	%		(7,391	)
Abbott Laboratories		592		0.92	%		(7,452	)
Vanda Pharmaceuticals, Inc.		1,553		0.24	%		(7,585	)
John B Sanfilippo & Son, Inc.		800		0.83	%		(9,931	)
Baxter International, Inc.		870		0.80	%		(13,262	)
Total Consumer, Non-cyclical							(9,886	)
Basic Materials
Ingevity Corp.		260		0.23	%		41
NewMarket Corp.		55		0.24	%		(760	)
Balchem Corp.		185		0.34	%		(839	)
Westlake Corp.		246		0.35	%		(2,492	)
AdvanSix, Inc.		260		0.12	%		(3,598	)
Minerals Technologies, Inc.		896		0.79	%		(3,943	)
Dow, Inc.		944		0.70	%		(4,964	)
HB Fuller Co.		841		0.72	%		(5,239	)
Huntsman Corp.		706		0.29	%		(5,341	)
International Paper Co.		1,304		0.78	%		(7,966	)
LyondellBasell Industries N.V. — Class A		556		0.70	%		(8,091	)
Southern Copper Corp.		502		0.36	%		(12,011	)
Total Basic Materials							(55,203	)
Consumer, Cyclical
Allison Transmission Holdings, Inc.		633		0.35	%		1,462
Winnebago Industries, Inc.		253		0.18	%		(210	)
Thor Industries, Inc.		167		0.18	%		(377	)
YETI Holdings, Inc.		318		0.20	%		(1,150	)
Tri Pointe Homes, Inc.		793		0.19	%		(1,872	)
Home Depot, Inc.		94		0.37	%		(2,116	)
Tesla, Inc.		21		0.20	%		(3,685	)
MSC Industrial Direct Company, Inc. — Class A		622		0.67	%		(4,149	)
Methode Electronics, Inc.		698		0.37	%		(4,171	)
Alaska Air Group, Inc.		425		0.24	%		(4,393	)
Choice Hotels International, Inc.		242		0.39	%		(4,498	)
NIKE, Inc. — Class B		195		0.29	%		(4,736	)
Walgreens Boots Alliance, Inc.		698		0.38	%		(4,878	)
Columbia Sportswear Co.		418		0.43	%		(7,169	)
Lowe's Companies, Inc.		254		0.64	%		(8,036	)
Whirlpool Corp.		288		0.64	%		(10,416	)
Total Consumer, Cyclical							(60,394	)
Financial
Safety Insurance Group, Inc.		298		0.41	%		5,548
Northwest Bancshares, Inc.		4,610		0.84	%		2,478
LTC Properties, Inc.		399		0.22	%		2,450
Banner Corp.		1,053		0.85	%		1,291
United Bankshares, Inc.		615		0.31	%		185

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Preferred Bank/Los Angeles CA		841		0.82	%	$	(258	)
Primerica, Inc.		118		0.20	%		(774	)
Global Net Lease, Inc.		4,264		0.86	%		(811	)
Reinsurance Group of America, Inc. — Class A		109		0.18	%		(922	)
Trustmark Corp.		591		0.25	%		(933	)
Corporate Office Properties Trust		1,684		0.63	%		(1,081	)
Office Properties Income Trust		1,120		0.32	%		(1,155	)
Visa, Inc. — Class A		71		0.20	%		(1,158	)
EPR Properties		456		0.31	%		(1,472	)
PennyMac Financial Services, Inc.		443		0.28	%		(1,671	)
S&T Bancorp, Inc.		2,135		0.84	%		(1,727	)
Encore Capital Group, Inc.		488		0.40	%		(1,796	)
NMI Holdings, Inc. — Class A		1,065		0.25	%		(2,241	)
American Express Co.		80		0.16	%		(2,331	)
Kilroy Realty Corp.		572		0.43	%		(3,223	)
AMERISAFE, Inc.		763		0.57	%		(3,466	)
Radian Group, Inc.		1,347		0.38	%		(3,519	)
Citigroup, Inc.		376		0.25	%		(3,618	)
Piper Sandler Cos.		191		0.31	%		(3,726	)
Fidelity National Financial, Inc.		757		0.40	%		(3,783	)
Vornado Realty Trust		937		0.38	%		(3,970	)
Lincoln National Corp.		402		0.27	%		(4,025	)
Enstar Group Ltd.		231		0.71	%		(4,289	)
Interactive Brokers Group, Inc. — Class A		406		0.32	%		(4,819	)
MGIC Investment Corp.		3,108		0.56	%		(4,954	)
BankUnited, Inc.		814		0.41	%		(5,278	)
Stewart Information Services Corp.		556		0.40	%		(5,406	)
Eagle Bancorp, Inc.		907		0.62	%		(5,752	)
Central Pacific Financial Corp.		1,049		0.32	%		(5,796	)
National Bank Holdings Corp. — Class A		1,405		0.77	%		(5,878	)
PotlatchDeltic Corp.		618		0.39	%		(6,006	)
SL Green Realty Corp.		539		0.36	%		(6,024	)
OneMain Holdings, Inc.		472		0.25	%		(6,161	)
HomeStreet, Inc.		480		0.24	%		(6,719	)
Essent Group Ltd.		1,225		0.68	%		(7,098	)
Bread Financial Holdings, Inc.		433		0.23	%		(7,458	)
Weyerhaeuser Co.		1,373		0.65	%		(8,509	)
Meta Financial Group, Inc.		736		0.41	%		(12,181	)
Total Financial							(138,036	)
Communications
Alphabet, Inc. — Class C		28		0.88	%		12,310
Viavi Solutions, Inc.		1,692		0.32	%		1,926
T-Mobile US, Inc.		318		0.61	%		415
Fox Corp. — Class A		357		0.16	%		(1,034	)
Juniper Networks, Inc.		671		0.27	%		(1,292	)
Comcast Corp. — Class A		471		0.26	%		(1,749	)
Gogo, Inc.		1,508		0.35	%		(2,849	)
Amazon.com, Inc.		191		0.29	%		(2,975	)
Verizon Communications, Inc.		1,345		0.98	%		(3,269	)
InterDigital, Inc.		925		0.80	%	$	(4,746	)
NETGEAR, Inc.		626		0.17	%		(4,902	)
Meta Platforms, Inc. — Class A		288		0.66	%		(5,853	)
Total Communications							(14,018	)
Energy
Occidental Petroleum Corp.		215		0.18	%		(1,065	)
ONEOK, Inc.		266		0.21	%		(2,539	)
Phillips 66		166		0.19	%		(2,754	)
DT Midstream, Inc.		330		0.23	%		(2,845	)
Kinder Morgan, Inc.		1,914		0.46	%		(3,777	)
Antero Midstream Corp.		2,145		0.28	%		(3,819	)
SunCoke Energy, Inc.		2,028		0.20	%		(4,147	)
Equitrans Midstream Corp.		2,594		0.24	%		(5,067	)
Targa Resources Corp.		362		0.31	%		(5,978	)
Williams Companies, Inc.		1,679		0.75	%		(6,822	)
Valero Energy Corp.		183		0.28	%		(7,306	)
Exxon Mobil Corp.		743		0.91	%		(9,623	)
Chevron Corp.		326		0.68	%		(10,315	)
Total Energy							(66,057	)
Technology
Microsoft Corp.		204		0.75	%		21,369
Apple, Inc.		513		1.00	%		19,857
CSG Systems International, Inc.		923		0.79	%		12,617
NetScout Systems, Inc.		508		0.25	%		1,397
NetApp, Inc.		873		0.82	%		471
Cadence Design Systems, Inc.		226		0.49	%		445
International Business Machines Corp.		130		0.26	%		48
Rambus, Inc.		1,032		0.32	%		(392	)
Accenture plc — Class A		40		0.16	%		(680	)
Lumentum Holdings, Inc.		191		0.22	%		(1,637	)
Concentrix Corp.		76		0.15	%		(1,801	)
QUALCOMM, Inc.		161		0.29	%		(1,900	)
Lam Research Corp.		31		0.19	%		(2,137	)
NXP Semiconductor N.V.		96		0.20	%		(2,889	)
Applied Materials, Inc.		136		0.18	%		(2,988	)
Salesforce, Inc.		142		0.34	%		(3,382	)
Genpact Ltd.		1,364		0.83	%		(3,382	)
Oracle Corp.		524		0.52	%		(4,000	)
Semtech Corp.		729		0.57	%		(4,333	)
Qorvo, Inc.		260		0.35	%		(5,181	)
Cirrus Logic, Inc.		747		0.78	%		(6,940	)
Xperi Holding Corp.		1,547		0.32	%		(7,235	)
Micron Technology, Inc.		642		0.51	%		(11,790	)
Total Technology							(4,463	)
Industrial
OSI Systems, Inc.		713		0.87	%		4,100
Mueller Industries, Inc.		238		0.18	%		2,548
Dorian LPG Ltd.		991		0.22	%		2,487
Amcor plc		3,223		0.57	%		1,768
Sanmina Corp.		317		0.18	%		687
Schneider National, Inc. — Class B		635		0.20	%		541
Werner Enterprises, Inc.		690		0.38	%		334
Brady Corp. — Class A		658		0.44	%		(705	)
Forward Air Corp.		127		0.17	%		(1,004	)
Energizer Holdings, Inc.		1,115		0.45	%		(1,606	)
Atlas Air Worldwide Holdings, Inc.		171		0.15	%		(1,702	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Insteel Industries, Inc.		359		0.17	%	$	(1,786	)
Allegion plc		266		0.37	%		(2,432	)
Westinghouse Air Brake Technologies Corp.		225		0.26	%		(2,659	)
Snap-on, Inc.		110		0.31	%		(2,755	)
Garmin Ltd.		512		0.72	%		(2,899	)
Louisiana-Pacific Corp.		316		0.24	%		(3,553	)
Fortune Brands Home & Security, Inc.		410		0.35	%		(3,781	)
Sealed Air Corp.		497		0.41	%		(3,939	)
Sturm Ruger & Company, Inc.		626		0.57	%		(4,108	)
Vishay Intertechnology, Inc.		3,008		0.77	%		(4,257	)
Nordson Corp.		243		0.70	%		(4,275	)
Knowles Corp.		2,310		0.57	%		(4,808	)
Encore Wire Corp.		120		0.18	%		(4,842	)
Eagle Materials, Inc.		328		0.52	%		(5,062	)
Standex International Corp.		533		0.65	%		(5,347	)
Keysight Technologies, Inc.		423		0.83	%		(6,217	)
Packaging Corporation of America		384		0.76	%		(6,480	)
Vontier Corp.		2,233		0.73	%		(12,295	)
Total Industrial							(74,047	)
Utilities
IDACORP, Inc.		505		0.77	%		3,735
Chesapeake Utilities Corp.		402		0.75	%		2,993
Otter Tail Corp.		590		0.57	%		2,527
MGE Energy, Inc.		717		0.80	%		1,034
Portland General Electric Co.		682		0.47	%		(838	)
WEC Energy Group, Inc.		337		0.49	%		(892	)
National Fuel Gas Co.		820		0.78	%		(1,018	)
California Water Service Group		288		0.23	%		(1,820	)
Xcel Energy, Inc.		837		0.85	%		(1,867	)
Hawaiian Electric Industries, Inc.		668		0.39	%		(1,875	)
NorthWestern Corp.		1,003		0.85	%		(1,927	)
UGI Corp.		444		0.25	%		(2,311	)
Southern Co.		855		0.87	%		(2,493	)
OGE Energy Corp.		1,500		0.83	%		(3,203	)
PPL Corp.		1,599		0.62	%		(3,624	)
Total Utilities							(11,579	)
Total MS Equity Long Custom Basket						$	(433,683	)

MS EQUITY SHORT CUSTOM BASKET
Consumer, Non-cyclical
ASGN, Inc.	865	(1.03)%	25,839
Equifax, Inc.	443	(1.07)%	21,766
CoStar Group, Inc.	1,943	(1.55)%	18,862
TransUnion	520	(0.55)%	17,091
Cintas Corp.	298	(1.47)%	14,478
Verisk Analytics, Inc. — Class A	380	(0.87)%	13,135
Universal Health Services, Inc. — Class B	456	(0.61)%	8,960
Dun & Bradstreet Holdings, Inc.	2,161	(0.43)%	8,649
Cal-Maine Foods, Inc.	1,290	(0.84)%	7,840
Intuitive Surgical, Inc.	235	(0.62)%	4,549
ManpowerGroup, Inc.	271	(0.27)%	3,730
ABM Industries, Inc.	707	(0.40)%	3,371
Viad Corp.	957	(0.35)%	2,508
Driven Brands Holdings, Inc.	2,524	(0.92)%	2,216
Quanta Services, Inc.	376	(0.62)%	2,127
Acadia Healthcare Company, Inc.	791	(0.71)%	1,568
Mister Car Wash, Inc.	992	(0.14)%	1,421
Patterson Companies, Inc.	1,613	(0.64)%	623
Coca-Cola Co.	1,666	(1.38)%	256
Lamb Weston Holdings, Inc.	693	(0.65)%	(5,878	)
Total Consumer, Non-cyclical			153,111
Financial
State Street Corp.	1,630	(1.32)%	33,269
Park Hotels & Resorts, Inc.	5,447	(0.97)%	32,436
Outfront Media, Inc.	3,871	(0.86)%	28,981
Howard Hughes Corp.	1,216	(1.09)%	24,341
Western Alliance Bancorporation	849	(0.79)%	23,660
Signature Bank	232	(0.55)%	22,778
Kite Realty Group Trust	5,008	(1.14)%	21,737
RLJ Lodging Trust	7,034	(1.02)%	21,447
Equitable Holdings, Inc.	3,188	(1.10)%	20,426
Kennedy-Wilson Holdings, Inc.	5,364	(1.34)%	19,496
Equinix, Inc.	117	(1.01)%	18,069
Safehold, Inc.	1,025	(0.48)%	17,176
Bank of America Corp.	1,894	(0.78)%	16,298
Invitation Homes, Inc.	2,639	(1.24)%	15,861
Alexandria Real Estate Equities, Inc.	263	(0.50)%	15,159
Ares Management Corp. — Class A	692	(0.52)%	15,104
BOK Financial Corp.	382	(0.38)%	14,516
Northern Trust Corp.	794	(1.01)%	13,443
Americold Realty Trust, Inc.	2,023	(0.80)%	12,435
KKR & Company, Inc. — Class A	1,120	(0.68)%	11,309
Crown Castle International Corp.	470	(1.04)%	10,985
Goldman Sachs Group, Inc.	431	(1.69)%	10,729
Ryman Hospitality Properties, Inc.	819	(0.82)%	10,572
Wells Fargo & Co.	1,780	(0.92)%	9,160
Host Hotels & Resorts, Inc.	4,972	(1.03)%	8,293
Xenia Hotels & Resorts, Inc.	2,859	(0.55)%	8,024
Sunstone Hotel Investors, Inc.	4,382	(0.57)%	8,019
SBA Communications Corp.	186	(0.78)%	7,684
Regions Financial Corp.	3,325	(0.82)%	6,828
Fulton Financial Corp.	6,472	(1.23)%	6,504

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Percentage Notional Amount		Value and Unrealized Appreciation (Depreciation)
Sun Communities, Inc.		635		(1.33)%	$	6,209
Raymond James Financial, Inc.		809		(0.95)%		5,835
Welltower, Inc.		1,120		(1.22)%		5,291
EastGroup Properties, Inc.		437		(0.89)%		4,937
JPMorgan Chase & Co.		271		(0.40)%		4,229
Popular, Inc.		626		(0.63)%		3,400
UMB Financial Corp.		676		(0.77)%		3,290
Assured Guaranty Ltd.		892		(0.66)%		3,247
SLM Corp.		2,772		(0.58)%		3,045
Equity LifeStyle Properties, Inc.		1,166		(1.08)%		2,813
Rayonier, Inc.		717		(0.35)%		2,239
Public Storage		79		(0.33)%		1,979
Camden Property Trust		301		(0.53)%		1,602
Digital Realty Trust, Inc.		277		(0.47)%		1,318
AvalonBay Communities, Inc.		174		(0.45)%		1,235
Extra Space Storage, Inc.		287		(0.64)%		1,194
Iron Mountain, Inc.		1,621		(1.04)%		833
UDR, Inc.		832		(0.50)%		446
Arthur J Gallagher & Co.		317		(0.68)%		(482	)
American Tower Corp. — Class A		385		(1.30)%		(2,803	)
Total Financial						534,596
Consumer, Cyclical
MillerKnoll, Inc.		2,450		(0.85)%		26,265
Caesars Entertainment, Inc.		792		(0.40)%		24,102
American Airlines Group, Inc.		3,187		(0.53)%		16,170
Copart, Inc.		603		(0.86)%		14,531
Wyndham Hotels & Resorts, Inc.		871		(0.75)%		12,431
Hilton Worldwide Holdings, Inc.		345		(0.51)%		12,064
Floor & Decor Holdings, Inc. — Class A		409		(0.34)%		4,886
WESCO International, Inc.		328		(0.46)%		3,812
CarMax, Inc.		315		(0.38)%		3,636
Las Vegas Sands Corp.		1,266		(0.56)%		2,842
Lululemon Athletica, Inc.		81		(0.29)%		2,408
IAA, Inc.		1,059		(0.46)%		1,979
Lear Corp.		187		(0.31)%		553
Healthcare Services Group, Inc.		2,932		(0.67)%		(1,306	)
Total Consumer, Cyclical						124,373
Technology
ZoomInfo Technologies, Inc. — Class A		602		(0.26)%		12,326
ANSYS, Inc.		203		(0.64)%		4,281
Broadridge Financial Solutions, Inc.		822		(1.54)%		2,555
Duolingo, Inc.		126		(0.15)%		1,662
KBR, Inc.		540		(0.34)%		(2,801	)
Veeva Systems, Inc. — Class A		288		(0.75)%		(6,036	)
Total Technology						11,987
Utilities
Edison International		1,719		(1.43)%		10,409
Public Service Enterprise Group, Inc.		1,742		(1.45)%		7,154
Entergy Corp.		997		(1.48)%		5,770
New Jersey Resources Corp.		1,584		(0.93)%		3,250
NextEra Energy, Inc.		516		(0.53)%		826
ONE Gas, Inc.		1,093		(1.17)%		(4,153	)
Spire, Inc.		1,126		(1.10)%		(5,894	)
Atmos Energy Corp.		876		(1.29)%		(8,996	)
Total Utilities						8,366
Energy
Helmerich & Payne, Inc.		1,034		(0.59)%		6,109
Patterson-UTI Energy, Inc.		3,853		(0.80)%		5,538
Hess Corp.		398		(0.56)%		4,725
Baker Hughes Co.		1,201		(0.46)%		3,616
NOV, Inc.		2,435		(0.54)%		(7,994	)
Halliburton Co.		2,819		(1.17)%		(23,992	)
Total Energy						(11,998	)
Industrial
Stericycle, Inc.		2,282		(1.37)%		50,183
Stanley Black & Decker, Inc.		613		(0.85)%		20,574
Teledyne Technologies, Inc.		137		(0.68)%		14,546
Trimble, Inc.		803		(0.62)%		11,388
Jacobs Engineering Group, Inc.		881		(1.48)%		11,227
Johnson Controls International plc		598		(0.38)%		9,291
EnerSys		830		(0.65)%		7,816
TD SYNNEX Corp.		668		(0.80)%		6,403
Illinois Tool Works, Inc.		238		(0.57)%		6,005
Deere & Co.		100		(0.39)%		5,914
GATX Corp.		318		(0.39)%		4,364
Waste Management, Inc.		740		(1.49)%		3,658
Rockwell Automation, Inc.		201		(0.53)%		3,347
Union Pacific Corp.		193		(0.54)%		1,672
Coherent, Inc.		154		(0.54)%		493
Howmet Aerospace, Inc.		2,420		(1.00)%		426
Carlisle Companies, Inc.		168		(0.53)%		(289	)
Exponent, Inc.		555		(0.67)%		(911	)
TransDigm Group, Inc.		87		(0.62)%		(942	)
Tetra Tech, Inc.		616		(1.11)%		(9,023	)
Republic Services, Inc. — Class A		891		(1.54)%		(9,752	)
Casella Waste Systems, Inc. — Class A		1,006		(0.96)%		(9,867	)
Total Industrial						126,523
Communications
Uber Technologies, Inc.		1,050		(0.28)%		5,484
Walt Disney Co.		407		(0.51)%		5,382
Total Communications						10,866
Total MS Equity Short Custom Basket					$	957,824

*	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, 2022.
2	All or a portion of this security is on loan at June 30, 2022 — See Note 5.
3	Rate indicated is the 7-day yield as of June 30, 2022.
4	Securities lending collateral — See Note 5.

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, 2022 (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	$	13,706,174	$	—	$	—	$	13,706,174
Money Market Fund		475,887		—		—		475,887
Securities Lending Collateral		9,797		—		—		9,797
Equity Custom Basket Swap Agreements**		—		1,925,344		—		1,925,344
Total Assets	$	14,191,858	$	1,925,344	$	—	$	16,117,202

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Custom Basket Swap Agreements**	$	—	$	874,846	$	—	$	874,846

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

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 76.2%
Financial - 18.6%
First Horizon Corp.		2,269	$	49,600
Alleghany Corp.*		57		47,487
Rexford Industrial Realty, Inc. REIT		700		40,313
Life Storage, Inc. REIT		358		39,974
American Financial Group, Inc.		282		39,144
East West Bancorp, Inc.		602		39,010
Medical Properties Trust, Inc. REIT		2,546		38,877
American Campus Communities, Inc. REIT*		592		38,166
Jones Lang LaSalle, Inc.*		207		36,196
Reinsurance Group of America, Inc. — Class A		284		33,310
Lamar Advertising Co. — Class A REIT		369		32,461
National Retail Properties, Inc. REIT		746		32,078
Webster Financial Corp.		755		31,823
Commerce Bancshares, Inc.		466		30,593
RenaissanceRe Holdings Ltd.		187		29,241
Unum Group		853		29,019
Cullen/Frost Bankers, Inc.		242		28,181
Omega Healthcare Investors, Inc. REIT		998		28,134
STORE Capital Corp. REIT		1,071		27,932
Apartment Income REIT Corp. REIT		666		27,705
EastGroup Properties, Inc. REIT		177		27,316
Old Republic International Corp.		1,216		27,190
Western Union Co.		1,638		26,978
Prosperity Bancshares, Inc.		391		26,694
First Industrial Realty Trust, Inc. REIT		560		26,589
Voya Financial, Inc.		433		25,777
Brixmor Property Group, Inc. REIT		1,271		25,687
Stifel Financial Corp.		452		25,321
First American Financial Corp.		456		24,132
SEI Investments Co.		443		23,931
Pinnacle Financial Partners, Inc.		324		23,428
Kilroy Realty Corp. REIT		446		23,339
Rayonier, Inc. REIT		621		23,213
Jefferies Financial Group, Inc.		813		22,455
Selective Insurance Group, Inc.		256		22,257
Synovus Financial Corp.		617		22,243
Hanover Insurance Group, Inc.		151		22,084
Glacier Bancorp, Inc.		460		21,813
Spirit Realty Capital, Inc. REIT		570		21,535
First Financial Bankshares, Inc.		545		21,402
Kinsale Capital Group, Inc.		91		20,897
Wintrust Financial Corp.		256		20,518
Interactive Brokers Group, Inc. — Class A		371		20,409
United Bankshares, Inc.		576		20,200
RLI Corp.		169		19,704
Primerica, Inc.		163		19,509
Independence Realty Trust, Inc. REIT		937		19,424
Affiliated Managers Group, Inc.		164		19,122
Valley National Bancorp		1,783		18,561
Cousins Properties, Inc. REIT		631		18,444
Old National Bancorp		1,243		18,384
Cadence Bank		778		18,268
SLM Corp.		1,142		18,203
New York Community Bancorp, Inc.		1,981		18,086
Bank OZK		479		17,977
National Storage Affiliates Trust REIT		357		17,875
Essent Group Ltd.		456		17,738
Healthcare Realty Trust, Inc. REIT		643		17,490
Janus Henderson Group plc		712		16,739
Douglas Emmett, Inc. REIT		746		16,695
Physicians Realty Trust REIT		956		16,682
Home BancShares, Inc.		803		16,678
MGIC Investment Corp.		1,313		16,544
Hancock Whitney Corp.		366		16,225
Evercore, Inc. — Class A		172		16,101
PS Business Parks, Inc. REIT		86		16,095
Kite Realty Group Trust REIT		929		16,062
UMB Financial Corp.		183		15,756
FNB Corp.		1,431		15,541
Umpqua Holdings Corp.		921		15,445
Highwoods Properties, Inc. REIT		446		15,249
EPR Properties REIT		318		14,924
Sabra Health Care REIT, Inc. REIT		980		13,691
Park Hotels & Resorts, Inc. REIT		990		13,434
PacWest Bancorp		498		13,277
Brighthouse Financial, Inc.*		318		13,044
PotlatchDeltic Corp. REIT		294		12,992
Bank of Hawaii Corp.		171		12,722
SL Green Realty Corp. REIT		272		12,553
Corporate Office Properties Trust REIT		477		12,493
Cathay General Bancorp		319		12,489
Federated Hermes, Inc. — Class B		389		12,366
Kemper Corp.		254		12,167
Associated Banc-Corp.		636		11,613
Texas Capital Bancshares, Inc.*		215		11,318
JBG SMITH Properties REIT		461		10,898
Fulton Financial Corp.		682		9,855
Pebblebrook Hotel Trust REIT		557		9,229
Hudson Pacific Properties, Inc. REIT		613		9,097
International Bancshares Corp.		225		9,018
CNO Financial Group, Inc.		492		8,900
Navient Corp.		627		8,772
Washington Federal, Inc.		277		8,316
Macerich Co. REIT		911		7,935
Bread Financial Holdings, Inc.		211		7,820
Mercury General Corp.		113		5,006
Total Financial				2,007,178
Industrial - 14.5%
Carlisle Companies, Inc.		219		52,256
Graco, Inc.		718		42,656
Hubbell, Inc.		228		40,716
Builders FirstSource, Inc.*		733		39,362

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
AECOM		600	$	39,132
Toro Co.		443		33,575
Regal Rexnord Corp.		284		32,240
Knight-Swift Transportation Holdings, Inc.		694		32,125
Arrow Electronics, Inc.*		280		31,385
Cognex Corp.		737		31,337
Tetra Tech, Inc.		228		31,134
Jabil, Inc.		599		30,675
Owens Corning		412		30,616
Lincoln Electric Holdings, Inc.		246		30,346
Middleby Corp.*		231		28,958
Lennox International, Inc.		140		28,922
AptarGroup, Inc.		278		28,692
Axon Enterprise, Inc.*		301		28,044
Coherent, Inc.*		105		27,953
Littelfuse, Inc.		105		26,674
Trex Company, Inc.*		480		26,122
AGCO Corp.		259		25,563
Chart Industries, Inc.*		152		25,442
Donaldson Company, Inc.		524		25,225
ITT, Inc.		354		23,803
Woodward, Inc.		257		23,770
Sonoco Products Co.		414		23,615
MDU Resources Group, Inc.		863		23,292
TopBuild Corp.*		139		23,235
II-VI, Inc.*		452		23,030
Oshkosh Corp.		279		22,917
Landstar System, Inc.		157		22,831
Acuity Brands, Inc.		147		22,644
EMCOR Group, Inc.		217		22,342
nVent Electric plc		706		22,119
Curtiss-Wright Corp.		163		21,526
Saia, Inc.*		112		21,056
XPO Logistics, Inc.*		420		20,227
Valmont Industries, Inc.		90		20,217
MSA Safety, Inc.		155		18,766
Hexcel Corp.		357		18,674
Universal Display Corp.		184		18,610
Clean Harbors, Inc.*		212		18,586
Eagle Materials, Inc.		168		18,470
Simpson Manufacturing Company, Inc.		183		18,412
Louisiana-Pacific Corp.		348		18,239
Avnet, Inc.		414		17,752
National Instruments Corp.		556		17,364
MasTec, Inc.*		242		17,342
Stericycle, Inc.*		391		17,145
TD SYNNEX Corp.		175		15,943
Flowserve Corp.		554		15,861
Mercury Systems, Inc.*		245		15,761
Vontier Corp.		683		15,702
Kirby Corp.*		256		15,575
Ryder System, Inc.		217		15,420
Timken Co.		286		15,172
Silgan Holdings, Inc.		357		14,762
Fluor Corp.*		602		14,653
Watts Water Technologies, Inc. — Class A		116		14,250
GATX Corp.		151		14,218
Dycom Industries, Inc.*		126		11,723
EnerSys		175		10,318
Belden, Inc.		188		10,015
Vishay Intertechnology, Inc.		560		9,979
Werner Enterprises, Inc.		251		9,674
Kennametal, Inc.		351		8,154
Terex Corp.		294		8,047
Energizer Holdings, Inc.		278		7,881
Greif, Inc. — Class A		113		7,049
Worthington Industries, Inc.		136		5,997
Vicor Corp.*		92		5,035
Total Industrial				1,566,323
Consumer, Non-cyclical - 12.7%
Service Corporation International		673		46,518
United Therapeutics Corp.*		192		45,243
Jazz Pharmaceuticals plc*		264		41,187
Darling Ingredients, Inc.*		685		40,963
Neurocrine Biosciences, Inc.*		405		39,479
Repligen Corp.*		219		35,566
Syneos Health, Inc.*		435		31,181
Performance Food Group Co.*		658		30,255
WEX, Inc.*		191		29,712
Chemed Corp.		63		29,572
Paylocity Holding Corp.*		168		29,303
Shockwave Medical, Inc.*		152		29,058
Masimo Corp.*		217		28,355
Exelixis, Inc.*		1,361		28,336
Bruker Corp.		424		26,610
Envista Holdings Corp.*		690		26,593
FTI Consulting, Inc.*		146		26,404
Acadia Healthcare Company, Inc.*		384		25,970
Halozyme Therapeutics, Inc.*		585		25,740
Ingredion, Inc.		281		24,773
Tenet Healthcare Corp.*		457		24,020
H&R Block, Inc.		677		23,912
Encompass Health Corp.		423		23,709
Perrigo Company plc		571		23,165
Flowers Foods, Inc.		845		22,240
HealthEquity, Inc.*		358		21,978
Euronet Worldwide, Inc.*		214		21,526
Avis Budget Group, Inc.*		145		21,327
LHC Group, Inc.*		132		20,558
ASGN, Inc.*		217		19,584
Post Holdings, Inc.*		237		19,517
Sanderson Farms, Inc.		90		19,398
Globus Medical, Inc. — Class A*		336		18,863
GXO Logistics, Inc.*		432		18,693
Penumbra, Inc.*		150		18,678
ManpowerGroup, Inc.		224		17,116
Medpace Holdings, Inc.*		114		17,062
Helen of Troy Ltd.*		101		16,403
Integra LifeSciences Holdings Corp.*		303		16,371
Option Care Health, Inc.*		588		16,341
Tandem Diabetes Care, Inc.*		271		16,040
Grocery Outlet Holding Corp.*		372		15,858
Arrowhead Pharmaceuticals, Inc.*		449		15,809
Insperity, Inc.		151		15,074
Amedisys, Inc.*		138		14,506

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
STAAR Surgical Co.*		203	$	14,399
LivaNova plc*		227		14,181
Haemonetics Corp.*		217		14,144
ICU Medical, Inc.*		85		13,973
Grand Canyon Education, Inc.*		137		12,904
Boston Beer Company, Inc. — Class A*		40		12,119
Brink's Co.		199		12,081
R1 RCM, Inc.*		570		11,947
Sprouts Farmers Market, Inc.*		465		11,774
Coty, Inc. — Class A*		1,460		11,695
BellRing Brands, Inc.*		463		11,524
Patterson Companies, Inc.		369		11,181
Neogen Corp.*		457		11,009
NuVasive, Inc.*		221		10,864
Lancaster Colony Corp.		84		10,817
Inari Medical, Inc.*		144		9,791
Graham Holdings Co. — Class B		17		9,636
Hain Celestial Group, Inc.*		381		9,045
John Wiley & Sons, Inc. — Class A		184		8,788
Progyny, Inc.*		300		8,715
Sabre Corp.*		1,385		8,074
Pilgrim's Pride Corp.*		204		6,371
Total Consumer, Non-cyclical				1,363,598
Consumer, Cyclical - 11.2%
BJ's Wholesale Club Holdings, Inc.*		572		35,647
Lithia Motors, Inc. — Class A		123		33,802
Watsco, Inc.		141		33,674
Mattel, Inc.*		1,495		33,383
Williams-Sonoma, Inc.		297		32,952
GameStop Corp. — Class A*,1		262		32,043
Lear Corp.		254		31,976
Deckers Outdoor Corp.*		116		29,620
Casey's General Stores, Inc.		157		29,042
Gentex Corp.		995		27,830
Churchill Downs, Inc.		145		27,772
Five Below, Inc.*		235		26,656
Wyndham Hotels & Resorts, Inc.		391		25,697
Capri Holdings Ltd.*		626		25,672
Polaris, Inc.		237		23,529
Macy's, Inc.		1,208		22,131
Murphy USA, Inc.		94		21,890
Texas Roadhouse, Inc. — Class A		289		21,155
Brunswick Corp.		321		20,987
Toll Brothers, Inc.		468		20,873
Marriott Vacations Worldwide Corp.		176		20,451
Skechers USA, Inc. — Class A*		572		20,352
Harley-Davidson, Inc.		625		19,787
Leggett & Platt, Inc.		567		19,607
Kohl's Corp.		545		19,451
Light & Wonder, Inc. — Class A*		406		19,078
IAA, Inc.*		568		18,613
Dick's Sporting Goods, Inc.1		246		18,541
Univar Solutions, Inc.*		718		17,857
Thor Industries, Inc.1		233		17,412
AutoNation, Inc.*		151		16,876
Boyd Gaming Corp.		339		16,865
Tempur Sealy International, Inc.		745		15,921
RH*		75		15,919
YETI Holdings, Inc.*		365		15,794
Choice Hotels International, Inc.		140		15,628
Avient Corp.		388		15,551
Hanesbrands, Inc.		1,479		15,219
MSC Industrial Direct Company, Inc. — Class A		200		15,022
Ollie's Bargain Outlet Holdings, Inc.*		247		14,511
Fox Factory Holding Corp.*		179		14,417
Travel + Leisure Co.		362		14,053
Wendy's Co.		727		13,726
Scotts Miracle-Gro Co. — Class A		172		13,586
Goodyear Tire & Rubber Co.*		1,198		12,831
Crocs, Inc.*		261		12,703
Visteon Corp.*		119		12,326
Carter's, Inc.		171		12,052
Adient plc*		402		11,911
Taylor Morrison Home Corp. — Class A*		508		11,867
FirstCash Holdings, Inc.		167		11,608
JetBlue Airways Corp.*		1,361		11,392
Papa John's International, Inc.		135		11,275
KB Home		368		10,473
Columbia Sportswear Co.		141		10,093
Callaway Golf Co.*		494		10,078
Nordstrom, Inc.1		473		9,994
Wingstop, Inc.		127		9,496
Nu Skin Enterprises, Inc. — Class A		213		9,223
Foot Locker, Inc.		355		8,964
Dana, Inc.		608		8,554
MillerKnoll, Inc.		322		8,459
Cracker Barrel Old Country Store, Inc.		99		8,265
Victoria's Secret & Co.*		288		8,055
Gap, Inc.		894		7,367
American Eagle Outfitters, Inc.1		653		7,300
Six Flags Entertainment Corp.*		330		7,161
Under Armour, Inc. — Class A*		800		6,664
Under Armour, Inc. — Class C*		860		6,519
Total Consumer, Cyclical				1,205,198
Technology - 6.4%
Fair Isaac Corp.*		110		44,099
Wolfspeed, Inc.*		524		33,248
Manhattan Associates, Inc.*		268		30,713
Genpact Ltd.		723		30,626
KBR, Inc.		592		28,647
Lattice Semiconductor Corp.*		584		28,324
CACI International, Inc. — Class A*		99		27,896
CDK Global, Inc.		495		27,111
Sailpoint Technologies Holdings, Inc.*		400		25,072
Concentrix Corp.		183		24,822
MKS Instruments, Inc.		236		24,221
Lumentum Holdings, Inc.*		293		23,270
Azenta, Inc.		318		22,928

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Science Applications International Corp.		237	$	22,065
Silicon Laboratories, Inc.*		155		21,734
CMC Materials, Inc.		121		21,113
Synaptics, Inc.*		168		19,832
Power Integrations, Inc.		247		18,528
NCR Corp.*		579		18,013
Qualys, Inc.*		142		17,912
Cirrus Logic, Inc.*		243		17,627
Teradata Corp.*		444		16,432
Maximus, Inc.		261		16,315
Ziff Davis, Inc.*		201		14,981
Semtech Corp.*		269		14,787
IPG Photonics Corp.*		147		13,837
ACI Worldwide, Inc.*		487		12,608
Envestnet, Inc.*		234		12,348
CommVault Systems, Inc.*		189		11,888
Blackbaud, Inc.*		193		11,208
SiTime Corp.*		66		10,760
Xerox Holdings Corp.		506		7,514
Kyndryl Holdings, Inc.*		762		7,452
Amkor Technology, Inc.		426		7,221
Total Technology				685,152
Basic Materials - 3.9%
Steel Dynamics, Inc.		760		50,274
Reliance Steel & Aluminum Co.		263		44,673
RPM International, Inc.		549		43,217
Alcoa Corp.		782		35,643
Cleveland-Cliffs, Inc.*		2,026		31,140
Royal Gold, Inc.		278		29,685
Olin Corp.		589		27,259
Ashland Global Holdings, Inc.		215		22,156
Valvoline, Inc.		756		21,795
Chemours Co.		659		21,101
United States Steel Corp.		1,106		19,808
Commercial Metals Co.		515		17,047
Cabot Corp.		239		15,246
Sensient Technologies Corp.		178		14,340
Ingevity Corp.*		164		10,355
NewMarket Corp.		29		8,728
Minerals Technologies, Inc.		140		8,588
Total Basic Materials				421,055
Energy - 3.5%
Targa Resources Corp.		967		57,701
Equities Corp.		1,254		43,138
HF Sinclair Corp.		634		28,631
First Solar, Inc.*		420		28,614
NOV, Inc.		1,666		28,172
Range Resources Corp.*		1,099		27,200
PDC Energy, Inc.		405		24,952
Matador Resources Co.		471		21,944
Sunrun, Inc.*		891		20,814
DT Midstream, Inc.		410		20,098
Murphy Oil Corp.		620		18,718
ChampionX Corp.		863		17,131
CNX Resources Corp.*		827		13,612
Antero Midstream Corp.		1,380		12,489
Equitrans Midstream Corp.		1,726		10,978
SunPower Corp. — Class A*		354		5,597
Total Energy				379,789
Utilities - 3.2%
Essential Utilities, Inc.		977		44,795
UGI Corp.		891		34,402
OGE Energy Corp.		849		32,737
National Fuel Gas Co.		388		25,627
Southwest Gas Holdings, Inc.		284		24,731
IDACORP, Inc.		214		22,667
Black Hills Corp.		275		20,012
Hawaiian Electric Industries, Inc.		464		18,977
ONE Gas, Inc.		229		18,592
Portland General Electric Co.		378		18,269
New Jersey Resources Corp.		408		18,168
PNM Resources, Inc.		364		17,392
Spire, Inc.		221		16,436
ALLETE, Inc.		242		14,225
NorthWestern Corp.		230		13,554
Total Utilities				340,584
Communications - 1.4%
Ciena Corp.*		645		29,477
Cable One, Inc.		21		27,076
Iridium Communications, Inc.*		543		20,395
New York Times Co. — Class A		707		19,725
TEGNA, Inc.		939		19,691
World Wrestling Entertainment, Inc. — Class A		183		11,435
Viasat, Inc.*		316		9,679
Calix, Inc.*		236		8,057
TripAdvisor, Inc.*		425		7,565
Total Communications				153,100
Common Stocks - 0.8%
Aspen Technology, Inc.*		119		21,858
QuidelOrtho Corp.*		212		20,602
Crane Holdings Co.		202		17,687
Enovis Corp.*		199		10,945
Esab Corp.		194		8,487
Sotera Health Co.*		420		8,228
Total Common Stocks				87,807
Total Common Stocks
(Cost $8,681,965)				8,209,784

MUTUAL FUNDS† - 10.2%
Guggenheim Ultra Short Duration Fund — Institutional Class2	88,750	856,441
Guggenheim Strategy Fund II2	9,844	237,625
Total Mutual Funds
(Cost $1,123,598)		1,094,066

	Face Amount
U.S. TREASURY BILLS†† - 7.7%
U.S. Cash Management Bill
1.34% due 10/04/223,4	$	750,000	746,428
U.S. Treasury Bills
1.02% due 07/19/224,5		82,000	81,958
Total U.S. Treasury Bills
(Cost $829,199)			828,386

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Face Amount		Value
REPURCHASE AGREEMENTS††,6 - 13.0%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/223	$	787,207	$	787,207
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/223		306,567		306,567
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/223		303,532		303,532
Total Repurchase Agreements
(Cost $1,397,306)			$	1,397,306

	Shares
SECURITIES LENDING COLLATERAL†,7 - 0.4%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%8		47,795		47,795
Total Securities Lending Collateral
(Cost $47,795)				47,795
Total Investments - 107.5%
(Cost $12,079,863)			$	11,577,337
Other Assets & Liabilities, net - (7.5)%				(807,832	)
Total Net Assets - 100.0%			$	10,769,505

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Purchased†
S&P MidCap 400 Index Mini Futures Contracts		5	Sep 2022	$	1,134,000	$	(45,748	)

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	S&P MidCap 400 Index	Pay	1.98% (Federal Funds Rate + 0.40%)	At Maturity	11/17/22	1,270	$	2,881,558	$	(85,095	)
BNP Paribas	S&P MidCap 400 Index	Pay	2.03% (Federal Funds Rate + 0.45%)	At Maturity	11/17/22	263		597,813		(98,787	)
Barclays Bank plc	S&P MidCap 400 Index	Pay	1.86% (SOFR + 0.35%)	At Maturity	11/16/22	1,448		3,285,246		(482,640	)
							$	6,764,617	$	(666,522	)

*	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, 2022 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.
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, 2022.
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, 2022.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	8,209,784	$	—	$	—	$	8,209,784
Mutual Funds		1,094,066		—		—		1,094,066
U.S. Treasury Bills		—		828,386		—		828,386
Repurchase Agreements		—		1,397,306		—		1,397,306
Securities Lending Collateral		47,795		—		—		47,795
Total Assets	$	9,351,645	$	2,225,692	$	—	$	11,577,337

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	45,748	$	—	$	—	$	45,748
Equity Index Swap Agreements**		—		666,522		—		666,522
Total Liabilities	$	45,748	$	666,522	$	—	$	712,270

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:  

Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	241,661	$	–	$	–	$	–	$	(4,036	)	$	237,625		9,844	$	1,231
Guggenheim Ultra Short Duration Fund — Institutional Class		868,866		–		–		–		(12,425	)		856,441		88,750		2,981
	$	1,110,527	$	–	$	–	$	–	$	(16,461	)	$	1,094,066			$	4,212

Monthly Rebalance NASDAQ-100® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 75.8%
Technology - 35.5%
Apple, Inc.		224,539	$	30,698,972
Microsoft Corp.		103,758		26,648,167
NVIDIA Corp.		48,810		7,399,108
Broadcom, Inc.		9,397		4,565,157
Adobe, Inc.*		10,875		3,980,903
Intel Corp.		94,114		3,520,805
QUALCOMM, Inc.		25,778		3,292,882
Texas Instruments, Inc.		21,224		3,261,068
Advanced Micro Devices, Inc.*		37,298		2,852,178
Intuit, Inc.		6,492		2,502,276
Applied Materials, Inc.		20,023		1,821,692
Analog Devices, Inc.		11,964		1,747,821
Micron Technology, Inc.		25,702		1,420,806
Activision Blizzard, Inc.		17,996		1,401,169
Lam Research Corp.		3,193		1,360,697
Fiserv, Inc.*		14,878		1,323,696
KLA Corp.		3,435		1,096,040
Synopsys, Inc.*		3,521		1,069,328
Fortinet, Inc.*		18,474		1,045,259
Cadence Design Systems, Inc.*		6,347		952,240
Paychex, Inc.		8,309		946,146
ASML Holding N.V. — Class G		1,972		938,435
NXP Semiconductor N.V.		6,043		894,545
Autodesk, Inc.*		5,007		861,004
Marvell Technology, Inc.		19,562		851,534
Crowdstrike Holdings, Inc. — Class A*		4,911		827,798
Cognizant Technology Solutions Corp. — Class A		11,996		809,610
Electronic Arts, Inc.		6,442		783,669
Microchip Technology, Inc.		12,763		741,275
Workday, Inc. — Class A*		4,580		639,276
Zoom Video Communications, Inc. — Class A*		5,794		625,578
Datadog, Inc. — Class A*		6,516		620,584
Atlassian Corporation plc — Class A*		3,291		616,733
Zscaler, Inc.*		3,247		485,459
ANSYS, Inc.*		2,002		479,059
NetEase, Inc. ADR		4,181		390,338
Skyworks Solutions, Inc.		3,704		343,139
Splunk, Inc.*		3,704		327,656
DocuSign, Inc.*		4,601		264,005
Total Technology				114,406,107
Communications - 20.4%
Amazon.com, Inc.*		141,151		14,991,648
Alphabet, Inc. — Class C*		4,348		9,511,032
Alphabet, Inc. — Class A*		4,173		9,094,052
Meta Platforms, Inc. — Class A*		47,644		7,682,595
Cisco Systems, Inc.		95,310		4,064,018
Comcast Corp. — Class A		102,897		4,037,678
T-Mobile US, Inc.*		28,853		3,881,883
Charter Communications, Inc. — Class A*		3,864		1,810,400
Netflix, Inc.*		10,226		1,788,221
Booking Holdings, Inc.*		935		1,635,306
Palo Alto Networks, Inc.*		2,293		1,132,604
Airbnb, Inc. — Class A*		8,798		783,726
JD.com, Inc. ADR		11,664		749,062
Baidu, Inc. ADR*		4,974		739,783
MercadoLibre, Inc.*		1,160		738,769
Pinduoduo, Inc. ADR*		10,201		630,422
Sirius XM Holdings, Inc.1		90,596		555,354
eBay, Inc.		12,886		536,960
Match Group, Inc.*		6,573		458,072
VeriSign, Inc.*		2,521		421,839
Okta, Inc.*		3,470		313,688
Total Communications				65,557,112
Consumer, Non-cyclical - 9.8%
PepsiCo, Inc.		31,825		5,303,955
Amgen, Inc.		12,295		2,991,373
Automatic Data Processing, Inc.		9,615		2,019,535
Mondelez International, Inc. — Class A		31,853		1,977,753
PayPal Holdings, Inc.*		26,654		1,861,515
Gilead Sciences, Inc.		28,870		1,784,454
Vertex Pharmaceuticals, Inc.*		5,887		1,658,898
Intuitive Surgical, Inc.*		8,262		1,658,266
Regeneron Pharmaceuticals, Inc.*		2,486		1,469,549
Moderna, Inc.*		9,155		1,307,792
Keurig Dr Pepper, Inc.		32,650		1,155,483
Monster Beverage Corp.*		12,191		1,130,106
Kraft Heinz Co.		28,173		1,074,518
Cintas Corp.		2,355		879,663
AstraZeneca plc ADR		13,301		878,797
Seagen, Inc.*		4,237		749,695
Biogen, Inc.*		3,371		687,482
IDEXX Laboratories, Inc.*		1,934		678,312
Dexcom, Inc.*		9,034		673,304
Illumina, Inc.*		3,616		666,646
Verisk Analytics, Inc. — Class A		3,634		629,009
Align Technology, Inc.*		1,814		429,319
Total Consumer, Non-cyclical				31,665,424
Consumer, Cyclical - 7.5%
Tesla, Inc.*		14,373		9,679,066
Costco Wholesale Corp.		10,201		4,889,135
Starbucks Corp.		26,398		2,016,543
Marriott International, Inc. — Class A		7,533		1,024,563
O'Reilly Automotive, Inc.*		1,513		955,853
Dollar Tree, Inc.*		5,168		805,433
Lululemon Athletica, Inc.*		2,827		770,669
Walgreens Boots Alliance, Inc.		19,881		753,490
Fastenal Co.		13,248		661,340
PACCAR, Inc.		8,002		658,885
Lucid Group, Inc.*,1		38,388		658,738
Copart, Inc.*		5,470		594,370
Ross Stores, Inc.		8,088		568,020
Total Consumer, Cyclical				24,036,105
Industrial - 1.5%
Honeywell International, Inc.		15,668		2,723,255
CSX Corp.		50,044		1,454,279
Old Dominion Freight Line, Inc.		2,609		668,634
Total Industrial				4,846,168
Utilities - 1.1%
American Electric Power Company, Inc.		11,820		1,134,011
Exelon Corp.		22,561		1,022,464
Xcel Energy, Inc.		12,536		887,047

Monthly Rebalance NASDAQ-100® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 75.8% (continued)
Utilities - 1.1% (continued)
Constellation Energy Corp.		7,514	$	430,252
Total Utilities				3,473,774
Total Common Stocks
(Cost $250,353,608)				243,984,690
MUTUAL FUNDS† - 7.6%
Guggenheim Ultra Short Duration Fund — Institutional Class2		1,434,715		13,845,003
Guggenheim Strategy Fund II2		444,159		10,722,005
Total Mutual Funds
(Cost $25,056,216)				24,567,008
		Face Amount
U.S. TREASURY BILLS†† - 15.0%
U.S. Cash Management Bill
1.34% due 10/04/223,4	$	16,068,000		15,991,465
1.78% due 10/04/224		11,000,000		10,947,605
U.S. Treasury Bills
1.02% due 07/19/224,5		21,406,000		21,395,056
Total U.S. Treasury Bills
(Cost $48,351,871)				48,334,126
FEDERAL AGENCY DISCOUNT NOTES†† - 1.0%
Federal Home Loan Bank
1.15% due 07/06/224		3,100,000		3,099,505
Total Federal Agency Discount Notes
(Cost $3,099,505)				3,099,505
REPURCHASE AGREEMENTS††,6 - 6.9%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/223		12,527,786		12,527,786
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/223		4,878,781		4,878,781
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/223		4,830,476		4,830,476
Total Repurchase Agreements
(Cost $22,237,043)				22,237,043
		Shares
SECURITIES LENDING COLLATERAL†,7 - 0.2%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%8		766,425		766,425
Total Securities Lending Collateral
(Cost $766,425)				766,425
Total Investments - 106.5%
(Cost $349,864,668)			$	342,988,797
Other Assets & Liabilities, net - (6.5)%				(20,823,719	)
Total Net Assets - 100.0%			$	322,165,078

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Purchased†
NASDAQ-100 Index Mini Futures Contracts		871	Sep 2022	$	200,991,960	$	(5,341,147	)

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation (Depreciation)

OTC Equity Index Swap Agreements††

Goldman Sachs International

NASDAQ-100 Index

Pay

2.13% (Federal Funds Rate + 0.55%)

At Maturity

11/17/22

4,235

$

48,722,479

$

125,336

BNP Paribas

NASDAQ-100 Index

Pay

2.23% (Federal Funds Rate + 0.65%)

At Maturity

11/17/22

1,287

14,806,805

(465,270

)

Barclays Bank plc

NASDAQ-100 Index

Pay

2.01% (SOFR + 0.50%)

At Maturity

11/16/22

11,854

136,364,556

(3,533,272

)

$

199,893,840

$

(3,873,206

)

Monthly Rebalance NASDAQ-100 ® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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, 2022 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.
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, 2022.
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, 2022.

ADR — American Depositary Receipt

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	243,984,690	$	—	$	—	$	243,984,690
Mutual Funds		24,567,008		—		—		24,567,008
U.S. Treasury Bills		—		48,334,126		—		48,334,126
Federal Agency Discount Notes		—		3,099,505		—		3,099,505
Repurchase Agreements		—		22,237,043		—		22,237,043
Securities Lending Collateral		766,425		—		—		766,425
Equity Index Swap Agreements**		—		125,336		—		125,336
Total Assets	$	269,318,123	$	73,796,010	$	—	$	343,114,133
Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	5,341,147	$	—	$	—	$	5,341,147
Equity Index Swap Agreements**		—		3,998,542		—		3,998,542
Total Liabilities	$	5,341,147	$	3,998,542	$	—	$	9,339,689

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Monthly Rebalance NASDAQ-100® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:

Security Name	Value 3/31/22		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	10,904,111	$	–	$	–		$	–		$	(182,106	)	$	10,722,005		444,159	$	55,561
Guggenheim Ultra Short Duration Fund — Institutional Class		21,389,957		–		(7,300,000	)		(160,912	)		(84,042	)		13,845,003		1,434,715		60,517
	$	32,294,068	$	–	$	(7,300,000	)	$	(160,912	)	$	(266,148	)	$	24,567,008			$	116,078

NASDAQ-100 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 94.2%
Technology - 44.2%
Apple, Inc.		1,026,448	$	140,335,971
Microsoft Corp.		474,312		121,817,551
NVIDIA Corp.		223,127		33,823,822
Broadcom, Inc.		42,958		20,869,426
Adobe, Inc.*		49,715		18,198,673
Intel Corp.		430,231		16,094,942
QUALCOMM, Inc.		117,843		15,053,265
Texas Instruments, Inc.		97,024		14,907,738
Advanced Micro Devices, Inc.*		170,504		13,038,441
Intuit, Inc.		29,679		11,439,474
Applied Materials, Inc.		91,533		8,327,672
Analog Devices, Inc.		54,692		7,989,954
Micron Technology, Inc.		117,492		6,494,958
Activision Blizzard, Inc.		82,267		6,405,309
Lam Research Corp.		14,595		6,219,659
Fiserv, Inc.*		68,010		6,050,850
KLA Corp.		15,702		5,010,194
Synopsys, Inc.*		16,094		4,887,748
Fortinet, Inc.*		84,449		4,778,124
Cadence Design Systems, Inc.*		29,014		4,352,970
Paychex, Inc.		37,985		4,325,352
ASML Holding N.V. — Class G		9,013		4,289,106
NXP Semiconductor N.V.		27,626		4,089,477
Autodesk, Inc.*		22,887		3,935,648
Marvell Technology, Inc.		89,423		3,892,583
Crowdstrike Holdings, Inc. — Class A*		22,448		3,783,835
Cognizant Technology Solutions Corp. — Class A		54,835		3,700,814
Electronic Arts, Inc.		29,450		3,582,592
Microchip Technology, Inc.		58,343		3,388,561
Workday, Inc. — Class A*		20,938		2,922,526
Zoom Video Communications, Inc. — Class A*		26,483		2,859,369
Datadog, Inc. — Class A*		29,787		2,836,914
Atlassian Corporation plc — Class A*		15,044		2,819,246
Zscaler, Inc.*		14,844		2,219,326
ANSYS, Inc.*		9,153		2,190,221
NetEase, Inc. ADR		19,113		1,784,390
Skyworks Solutions, Inc.		16,932		1,568,581
Splunk, Inc.*		16,929		1,497,539
DocuSign, Inc.*		21,033		1,206,874
Total Technology				522,989,695
Communications - 25.3%
Amazon.com, Inc.*		645,250		68,532,003
Alphabet, Inc. — Class C*		19,874		43,473,381
Alphabet, Inc. — Class A*		19,074		41,567,205
Meta Platforms, Inc. — Class A*		217,800		35,120,250
Cisco Systems, Inc.		435,698		18,578,162
Comcast Corp. — Class A		470,378		18,457,633
T-Mobile US, Inc.*		131,898		17,745,557
Charter Communications, Inc. — Class A*		17,661		8,274,708
Netflix, Inc.*		46,745		8,174,298
Booking Holdings, Inc.*		4,274		7,475,183
Palo Alto Networks, Inc.*		10,483		5,177,973
Airbnb, Inc. — Class A*		40,220		3,582,798
JD.com, Inc. ADR		53,320		3,424,210
Baidu, Inc. ADR*		22,739		3,381,972
MercadoLibre, Inc.*		5,300		3,375,411
Pinduoduo, Inc. ADR*		46,634		2,881,981
Sirius XM Holdings, Inc.1		414,144		2,538,703
eBay, Inc.		58,905		2,454,571
Match Group, Inc.*		30,049		2,094,115
VeriSign, Inc.*		11,526		1,928,646
Okta, Inc.*		15,860		1,433,744
Total Communications				299,672,504
Consumer, Non-cyclical - 12.2%
PepsiCo, Inc.		145,481		24,245,864
Amgen, Inc.		56,207		13,675,163
Automatic Data Processing, Inc.		43,954		9,232,098
Mondelez International, Inc. — Class A		145,612		9,041,049
PayPal Holdings, Inc.*		121,845		8,509,655
Gilead Sciences, Inc.		131,974		8,157,313
Vertex Pharmaceuticals, Inc.*		26,909		7,582,687
Intuitive Surgical, Inc.*		37,768		7,580,415
Regeneron Pharmaceuticals, Inc.*		11,366		6,718,784
Moderna, Inc.*		41,851		5,978,415
Keurig Dr Pepper, Inc.		149,255		5,282,134
Monster Beverage Corp.*		55,730		5,166,171
Kraft Heinz Co.		128,790		4,912,051
Cintas Corp.		10,766		4,021,424
AstraZeneca plc ADR		60,802		4,017,188
Seagen, Inc.*		19,366		3,426,620
Biogen, Inc.*		15,409		3,142,512
IDEXX Laboratories, Inc.*		8,837		3,099,401
Dexcom, Inc.*		41,298		3,077,940
Illumina, Inc.*		16,528		3,047,102
Verisk Analytics, Inc. — Class A		16,614		2,875,717
Align Technology, Inc.*		8,291		1,962,231
Total Consumer, Non-cyclical				144,751,934
Consumer, Cyclical - 9.3%
Tesla, Inc.*		65,703		44,245,714
Costco Wholesale Corp.		46,635		22,351,223
Starbucks Corp.		120,673		9,218,210
Marriott International, Inc. — Class A		34,437		4,683,776
O'Reilly Automotive, Inc.*		6,914		4,367,989
Dollar Tree, Inc.*		23,627		3,682,268
Lululemon Athletica, Inc.*		12,922		3,522,666
Walgreens Boots Alliance, Inc.		90,883		3,444,466
Fastenal Co.		60,563		3,023,305
PACCAR, Inc.		36,582		3,012,162
Lucid Group, Inc.*,1		175,484		3,011,306
Copart, Inc.*		25,007		2,717,261
Ross Stores, Inc.		36,972		2,596,543
Total Consumer, Cyclical				109,876,889
Industrial - 1.9%
Honeywell International, Inc.		71,625		12,449,141
CSX Corp.		228,768		6,647,998
Old Dominion Freight Line, Inc.		11,927		3,056,652
Total Industrial				22,153,791
Utilities - 1.3%
American Electric Power Company, Inc.		54,033		5,183,926
Exelon Corp.		103,134		4,674,033

NASDAQ-100 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 94.2% (continued)
Utilities - 1.3% (continued)
Xcel Energy, Inc.		57,306	$	4,054,973
Constellation Energy Corp.		34,351		1,966,938
Total Utilities				15,879,870
Total Common Stocks
(Cost $373,163,805)				1,115,324,683
MUTUAL FUNDS† - 4.4%
Guggenheim Ultra Short Duration Fund — Institutional Class2		3,064,684		29,574,201
Guggenheim Strategy Fund II2		575,584		13,894,609
Guggenheim Strategy Fund III2		370,504		8,969,897
Total Mutual Funds
(Cost $54,178,710)				52,438,707
		Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 0.9%
Federal Farm Credit Bank
1.01% due 07/01/223	$	9,550,000		9,550,000
Federal Home Loan Bank
1.45% due 08/08/223		1,000,000		998,469
Total Federal Agency Discount Notes
(Cost $10,548,469)				10,548,469
U.S. TREASURY BILLS†† - 0.6%
U.S. Cash Management Bill
1.34% due 10/04/223,4		3,872,000		3,853,557
1.78% due 10/04/223		1,500,000		1,492,855
U.S. Treasury Bills
1.02% due 07/19/223,5		1,962,000		1,960,997
Total U.S. Treasury Bills
(Cost $7,311,679)				7,307,409
FEDERAL AGENCY NOTES†† - 0.3%
Federal Farm Credit Bank
1.90% (U.S. Prime Rate - 2.85%, Rate Floor: 0.00%) due 08/30/22◊		3,000,000		3,001,689
Total Federal Agency Notes
(Cost $2,999,755)				3,001,689
REPURCHASE AGREEMENTS††,6 - 1.0%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/224		6,761,886		6,761,886
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/224		2,633,327		2,633,327
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/224		2,607,255		2,607,255
Total Repurchase Agreements
(Cost $12,002,468)				12,002,468
		Shares
SECURITIES LENDING COLLATERAL†,7 - 0.4%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%8		4,187,562		4,187,562
Total Securities Lending Collateral
(Cost $4,187,562)				4,187,562
Total Investments - 101.8%
(Cost $464,392,448)			$	1,204,810,987
Other Assets & Liabilities, net - (1.8)%				(21,263,503	)
Total Net Assets - 100.0%			$	1,183,547,484

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Purchased†
NASDAQ-100 Index Mini Futures Contracts		130	Sep 2022	$	29,998,800	$	(676,508	)

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional  Amount

Value and Unrealized Appreciation (Depreciation)

OTC Equity Index Swap Agreements††

Goldman Sachs International

NASDAQ-100 Index

Pay

2.13% (Federal Funds Rate + 0.55%)

At Maturity

11/17/22

610

$

7,017,564

$

113,433

BNP Paribas

NASDAQ-100 Index

Pay

2.23% (Federal Funds Rate + 0.65%)

At Maturity

11/17/22

599

6,891,624

(360,384

)

Barclays Bank plc

NASDAQ-100 Index

Pay

2.01% (SOFR + 0.50%)

At Maturity

11/16/22

2,151

24,744,711

(2,284,726

)

$

38,653,899

$

(2,531,677

)

NASDAQ-100 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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.
◊	Variable rate security. Rate indicated is the rate effective at June 30, 2022. 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.
1	All or a portion of this security is on loan at June 30, 2022 — 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, 2022.
5	All or a portion of this security is pledged as futures collateral at June 30, 2022.
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, 2022.

ADR — American Depositary Receipt

plc — Public Limited Company  

SOFR — Secured Overnight Financing Rate  

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	1,115,324,683	$	—	$	—	$	1,115,324,683
Mutual Funds		52,438,707		—		—		52,438,707
Federal Agency Discount Notes		—		10,548,469		—		10,548,469
U.S. Treasury Bills		—		7,307,409		—		7,307,409
Federal Agency Notes		—		3,001,689		—		3,001,689
Repurchase Agreements		—		12,002,468		—		12,002,468
Securities Lending Collateral		4,187,562		—		—		4,187,562
Equity Index Swap Agreements**		—		113,433		—		113,433
Total Assets	$	1,171,950,952	$	32,973,468	$	—	$	1,204,924,420
Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	676,508	$	—	$	—	$	676,508
Equity Index Swap Agreements**		—		2,645,110		—		2,645,110
Total Liabilities	$	676,508	$	2,645,110	$	—	$	3,321,618

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

NASDAQ-100 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:
Security Name		Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22	Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	14,130,599	$	–	$	–	$	–	$	(235,990	)	$	13,894,609	575,584	$	72,001
Guggenheim Strategy Fund III		9,129,213		–		–		–		(159,316	)		8,969,897	370,504		45,559
Guggenheim Ultra Short Duration Fund — Institutional Class		30,003,257		–		–		–		(429,056	)		29,574,201	3,064,684		102,942
	$	53,263,069	$	–	$	–	$	–	$	(824,362	)	$	52,438,707		$	220,502

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 51.3%
Technology - 11.9%
Apple, Inc.		18,391	$	2,514,417
Microsoft Corp.		8,946		2,297,601
NVIDIA Corp.		2,995		454,012
Broadcom, Inc.		488		237,075
Accenture plc — Class A		758		210,459
Adobe, Inc.*		565		206,824
Salesforce, Inc.*		1,188		196,067
Intel Corp.		4,890		182,935
QUALCOMM, Inc.		1,340		171,172
Texas Instruments, Inc.		1,102		169,322
International Business Machines Corp.		1,076		151,920
Advanced Micro Devices, Inc.*		1,937		148,122
Oracle Corp.		1,883		131,565
Intuit, Inc.		337		129,893
ServiceNow, Inc.*		240		114,125
Applied Materials, Inc.		1,057		96,166
Analog Devices, Inc.		626		91,452
Micron Technology, Inc.		1,336		73,854
Activision Blizzard, Inc.		935		72,799
Lam Research Corp.		166		70,741
Fidelity National Information Services, Inc.		731		67,011
Fiserv, Inc.*		696		61,923
KLA Corp.		179		57,115
Synopsys, Inc.*		183		55,577
Roper Technologies, Inc.		126		49,726
Cadence Design Systems, Inc.*		330		49,510
NXP Semiconductor N.V.		314		46,482
Fortinet, Inc.*		790		44,698
Autodesk, Inc.*		259		44,538
Paychex, Inc.		383		43,612
Cognizant Technology Solutions Corp. — Class A		623		42,046
HP, Inc.		1,260		41,303
Electronic Arts, Inc.		336		40,874
MSCI, Inc. — Class A		97		39,979
Microchip Technology, Inc.		665		38,623
ON Semiconductor Corp.*		518		26,061
ANSYS, Inc.*		103		24,647
Take-Two Interactive Software, Inc.*		189		23,158
Hewlett Packard Enterprise Co.		1,554		20,606
EPAM Systems, Inc.*		68		20,045
Monolithic Power Systems, Inc.		52		19,970
Broadridge Financial Solutions, Inc.		140		19,957
Zebra Technologies Corp. — Class A*		62		18,225
Skyworks Solutions, Inc.		191		17,694
Akamai Technologies, Inc.*		192		17,535
NetApp, Inc.		266		17,354
Teradyne, Inc.		192		17,194
Seagate Technology Holdings plc		236		16,860
Western Digital Corp.*		374		16,766
Leidos Holdings, Inc.		162		16,315
Tyler Technologies, Inc.*		49		16,292
Paycom Software, Inc.*		57		15,967
Jack Henry & Associates, Inc.		87		15,662
Citrix Systems, Inc.*		148		14,381
PTC, Inc.*		126		13,399
Qorvo, Inc.*		130		12,262
DXC Technology Co.*		292		8,851
Ceridian HCM Holding, Inc.*		164		7,721
Total Technology				8,840,460
Consumer, Non-cyclical - 11.5%
UnitedHealth Group, Inc.		1,122		576,293
Johnson & Johnson		3,148		558,802
Procter & Gamble Co.		2,870		412,677
Pfizer, Inc.		6,712		351,910
AbbVie, Inc.		2,113		323,627
Eli Lilly & Co.		943		305,749
Coca-Cola Co.		4,667		293,601
Merck & Company, Inc.		3,025		275,789
PepsiCo, Inc.		1,654		275,655
Thermo Fisher Scientific, Inc.		468		254,255
Abbott Laboratories		2,094		227,513
Danaher Corp.		774		196,224
Bristol-Myers Squibb Co.		2,546		196,042
Philip Morris International, Inc.		1,854		183,064
Amgen, Inc.		638		155,225
CVS Health Corp.		1,568		145,291
Medtronic plc		1,605		144,049
S&P Global, Inc.		415		139,880
Elevance Health, Inc.		288		138,983
Automatic Data Processing, Inc.		500		105,020
Mondelez International, Inc. — Class A		1,655		102,759
Cigna Corp.		380		100,138
PayPal Holdings, Inc.*		1,384		96,659
Zoetis, Inc.		562		96,602
Gilead Sciences, Inc.		1,500		92,715
Altria Group, Inc.		2,166		90,474
Vertex Pharmaceuticals, Inc.*		306		86,228
Intuitive Surgical, Inc.*		429		86,105
Becton Dickinson and Co.		341		84,067
Colgate-Palmolive Co.		1,002		80,300
Stryker Corp.		403		80,169
Regeneron Pharmaceuticals, Inc.*		129		76,256
Humana, Inc.		151		70,679
Edwards Lifesciences Corp.*		743		70,652
Estee Lauder Companies, Inc. — Class A		277		70,544
Boston Scientific Corp.*		1,709		63,694
Centene Corp.*		700		59,227
Moderna, Inc.*		414		59,140
McKesson Corp.		173		56,434
Kimberly-Clark Corp.		403		54,466
General Mills, Inc.		720		54,324
Archer-Daniels-Midland Co.		673		52,225
Moody's Corp.		192		52,218
Sysco Corp.		609		51,588
IQVIA Holdings, Inc.*		226		49,040
Corteva, Inc.		865		46,831
HCA Healthcare, Inc.		272		45,712
Constellation Brands, Inc. — Class A		195		45,447
Monster Beverage Corp.*		450		41,715
Baxter International, Inc.		602		38,666

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 51.3% (continued)
Consumer, Non-cyclical - 11.5% (continued)
Cintas Corp.		103	$	38,474
Hershey Co.		175		37,653
Global Payments, Inc.		337		37,286
Kroger Co.		784		37,107
ResMed, Inc.		175		36,685
Biogen, Inc.*		175		35,689
IDEXX Laboratories, Inc.*		100		35,073
Dexcom, Inc.*		469		34,955
Illumina, Inc.*		188		34,660
Verisk Analytics, Inc. — Class A		188		32,541
Kraft Heinz Co.		848		32,343
Keurig Dr Pepper, Inc.		879		31,108
Tyson Foods, Inc. — Class A		348		29,949
Church & Dwight Company, Inc.		290		26,871
Equifax, Inc.		146		26,686
West Pharmaceutical Services, Inc.		88		26,609
Zimmer Biomet Holdings, Inc.		251		26,370
Laboratory Corporation of America Holdings		111		26,014
AmerisourceBergen Corp. — Class A		180		25,466
McCormick & Company, Inc.		298		24,808
STERIS plc		120		24,738
Waters Corp.*		71		23,500
Gartner, Inc.*		96		23,216
Catalent, Inc.*		214		22,960
Kellogg Co.		303		21,616
Quanta Services, Inc.		172		21,558
PerkinElmer, Inc.		151		21,475
United Rentals, Inc.*		86		20,890
Clorox Co.		147		20,724
Hologic, Inc.*		298		20,651
Align Technology, Inc.*		87		20,590
Conagra Brands, Inc.		574		19,654
Molina Healthcare, Inc.*		70		19,573
FleetCor Technologies, Inc.*		92		19,330
Quest Diagnostics, Inc.		140		18,617
Cooper Companies, Inc.		58		18,161
Incyte Corp.*		225		17,093
Cardinal Health, Inc.		326		17,040
J M Smucker Co.		130		16,641
Bio-Techne Corp.		47		16,292
Hormel Foods Corp.		338		16,008
Avery Dennison Corp.		98		15,863
Brown-Forman Corp. — Class B		219		15,365
Viatris, Inc.		1,449		15,171
Teleflex, Inc.		56		13,768
ABIOMED, Inc.*		55		13,613
Charles River Laboratories International, Inc.*		61		13,052
Bio-Rad Laboratories, Inc. — Class A*		26		12,870
Henry Schein, Inc.*		165		12,662
Lamb Weston Holdings, Inc.		172		12,291
Molson Coors Beverage Co. — Class B		225		12,265
Campbell Soup Co.		242		11,628
MarketAxess Holdings, Inc.		44		11,264
Organon & Co.		303		10,226
Nielsen Holdings plc		430		9,985
Robert Half International, Inc.		132		9,885
Rollins, Inc.		271		9,463
Dentsply Sirona, Inc.		257		9,183
Universal Health Services, Inc. — Class B		80		8,057
DaVita, Inc.*		72		5,757
Total Consumer, Non-cyclical				8,593,765
Financial - 7.7%
Berkshire Hathaway, Inc. — Class B*		2,164		590,815
JPMorgan Chase & Co.		3,513		395,599
Visa, Inc. — Class A		1,969		387,676
Mastercard, Inc. — Class A		1,026		323,682
Bank of America Corp.		8,481		264,014
Wells Fargo & Co.		4,533		177,558
American Tower Corp. — Class A REIT		556		142,108
Morgan Stanley		1,674		127,324
Goldman Sachs Group, Inc.		411		122,075
Charles Schwab Corp.		1,804		113,977
Citigroup, Inc.		2,322		106,789
Prologis, Inc. REIT		885		104,120
BlackRock, Inc. — Class A		170		103,537
American Express Co.		730		101,193
Chubb Ltd.		507		99,666
Marsh & McLennan Companies, Inc.		600		93,150
CME Group, Inc. — Class A		430		88,021
Crown Castle International Corp. REIT		518		87,221
Progressive Corp.		700		81,389
PNC Financial Services Group, Inc.		495		78,096
Truist Financial Corp.		1,593		75,556
U.S. Bancorp		1,617		74,414
Equinix, Inc. REIT		108		70,958
Aon plc — Class A		254		68,499
Intercontinental Exchange, Inc.		667		62,725
Public Storage REIT		183		57,219
MetLife, Inc.		827		51,927
Realty Income Corp. REIT		719		49,079
Capital One Financial Corp.		470		48,969
Travelers Companies, Inc.		287		48,540
American International Group, Inc.		948		48,471
Welltower, Inc. REIT		543		44,716
Digital Realty Trust, Inc. REIT		341		44,272
Prudential Financial, Inc.		448		42,865
Allstate Corp.		328		41,568
SBA Communications Corp. REIT		129		41,287
Arthur J Gallagher & Co.		251		40,923
Aflac, Inc.		708		39,174
Simon Property Group, Inc. REIT		392		37,209
Bank of New York Mellon Corp.		889		37,080
VICI Properties, Inc. REIT		1,151		34,288
M&T Bank Corp.		214		34,109
AvalonBay Communities, Inc. REIT		166		32,246
Discover Financial Services		336		31,779
Ameriprise Financial, Inc.		131		31,136

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 51.3% (continued)
Financial - 7.7% (continued)
T. Rowe Price Group, Inc.		272	$	30,902
First Republic Bank		214		30,859
Equity Residential REIT		409		29,538
Weyerhaeuser Co. REIT		891		29,510
CBRE Group, Inc. — Class A*		391		28,782
SVB Financial Group*		70		27,649
Fifth Third Bancorp		820		27,552
Extra Space Storage, Inc. REIT		161		27,389
State Street Corp.		439		27,064
Willis Towers Watson plc		133		26,253
Hartford Financial Services Group, Inc.		393		25,714
Alexandria Real Estate Equities, Inc. REIT		177		25,670
Duke Realty Corp. REIT		460		25,277
Ventas, Inc. REIT		477		24,532
Mid-America Apartment Communities, Inc. REIT		138		24,105
Northern Trust Corp.		248		23,927
Cincinnati Financial Corp.		178		21,179
Nasdaq, Inc.		138		21,051
Regions Financial Corp.		1,118		20,963
Citizens Financial Group, Inc.		586		20,914
Raymond James Financial, Inc.		232		20,743
Huntington Bancshares, Inc.		1,721		20,704
Essex Property Trust, Inc. REIT		77		20,136
KeyCorp		1,114		19,194
Principal Financial Group, Inc.		281		18,768
W R Berkley Corp.		251		17,133
Camden Property Trust REIT		127		17,079
Iron Mountain, Inc. REIT		347		16,895
Healthpeak Properties, Inc. REIT		645		16,712
Synchrony Financial		599		16,544
UDR, Inc. REIT		357		16,436
Brown & Brown, Inc.		280		16,335
Boston Properties, Inc. REIT		171		15,216
Kimco Realty Corp. REIT		739		14,610
Cboe Global Markets, Inc.		127		14,375
Loews Corp.		232		13,748
Signature Bank		75		13,441
Host Hotels & Resorts, Inc. REIT		855		13,406
Everest Re Group Ltd.		47		13,173
Comerica, Inc.		155		11,374
Assurant, Inc.		65		11,235
Regency Centers Corp. REIT		186		11,032
Globe Life, Inc.		109		10,624
Zions Bancorp North America		181		9,213
Lincoln National Corp.		192		8,980
Federal Realty OP, LP REIT		85		8,138
Franklin Resources, Inc.		335		7,809
Invesco Ltd.		402		6,484
Vornado Realty Trust REIT		190		5,432
Total Financial				5,700,818
Communications - 6.6%
Amazon.com, Inc.*		10,465		1,111,488
Alphabet, Inc. — Class A*		360		784,534
Alphabet, Inc. — Class C*		330		721,858
Meta Platforms, Inc. — Class A*		2,743		442,309
Verizon Communications, Inc.		5,023		254,917
Cisco Systems, Inc.		4,969		211,878
Comcast Corp. — Class A		5,347		209,816
Walt Disney Co.*		2,179		205,698
AT&T, Inc.		8,563		179,481
T-Mobile US, Inc.*		704		94,716
Netflix, Inc.*		531		92,856
Booking Holdings, Inc.*		48		83,951
Charter Communications, Inc. — Class A*		138		64,657
Motorola Solutions, Inc.		200		41,920
Warner Bros Discovery, Inc.*		2,641		35,442
Twitter, Inc.*		912		34,100
Corning, Inc.		909		28,643
eBay, Inc.		670		27,919
CDW Corp.		162		25,525
Arista Networks, Inc.*		269		25,216
Match Group, Inc.*		342		23,834
VeriSign, Inc.*		113		18,908
Paramount Global — Class B		728		17,967
FactSet Research Systems, Inc.		45		17,306
Expedia Group, Inc.*		181		17,164
Omnicom Group, Inc.		246		15,648
NortonLifeLock, Inc.		695		15,262
Interpublic Group of Companies, Inc.		471		12,967
Lumen Technologies, Inc.		1,112		12,132
Fox Corp. — Class A		372		11,963
Etsy, Inc.*		152		11,128
F5, Inc.*		72		11,019
Juniper Networks, Inc.		386		11,001
News Corp. — Class A		465		7,245
DISH Network Corp. — Class A*		300		5,379
Fox Corp. — Class B		173		5,138
News Corp. — Class B		143		2,272
Total Communications				4,893,257
Consumer, Cyclical - 4.7%
Tesla, Inc.*		1,004		676,114
Home Depot, Inc.		1,236		338,998
Costco Wholesale Corp.		530		254,018
McDonald's Corp.		885		218,489
Walmart, Inc.		1,678		204,011
NIKE, Inc. — Class B		1,518		155,139
Lowe's Companies, Inc.		790		137,989
Starbucks Corp.		1,372		104,807
TJX Companies, Inc.		1,405		78,469
Target Corp.		553		78,100
Dollar General Corp.		274		67,250
General Motors Co.*		1,743		55,358
Ford Motor Co.		4,723		52,567
O'Reilly Automotive, Inc.*		79		49,909
AutoZone, Inc.*		23		49,430
Marriott International, Inc. — Class A		328		44,611
Chipotle Mexican Grill, Inc. — Class A*		33		43,140
Dollar Tree, Inc.*		269		41,924
Yum! Brands, Inc.		341		38,707
Hilton Worldwide Holdings, Inc.		332		36,998
Fastenal Co.		688		34,345
PACCAR, Inc.		416		34,253
Cummins, Inc.		168		32,513
Walgreens Boots Alliance, Inc.		857		32,480
Ross Stores, Inc.		420		29,497

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 51.3% (continued)
Consumer, Cyclical - 4.7% (continued)
Aptiv plc*		323	$	28,769
Copart, Inc.*		256		27,817
Tractor Supply Co.		133		25,782
Southwest Airlines Co.*		709		25,609
DR Horton, Inc.		382		25,285
Ulta Beauty, Inc.*		62		23,900
WW Grainger, Inc.		51		23,176
Genuine Parts Co.		169		22,477
Delta Air Lines, Inc.*		767		22,220
Lennar Corp. — Class A		309		21,806
CarMax, Inc.*		191		17,282
VF Corp.		386		17,050
Darden Restaurants, Inc.		148		16,742
Pool Corp.		47		16,508
Domino's Pizza, Inc.		42		16,368
NVR, Inc.*		4		16,016
Best Buy Company, Inc.		242		15,776
LKQ Corp.		311		15,267
United Airlines Holdings, Inc.*		391		13,849
Las Vegas Sands Corp.*		411		13,806
Live Nation Entertainment, Inc.*		164		13,543
Hasbro, Inc.		157		12,855
Advance Auto Parts, Inc.		73		12,635
MGM Resorts International		422		12,217
PulteGroup, Inc.		284		11,255
Whirlpool Corp.		67		10,376
American Airlines Group, Inc.*		777		9,852
Caesars Entertainment, Inc.*		256		9,805
BorgWarner, Inc.		286		9,544
Royal Caribbean Cruises Ltd.*		268		9,356
Tapestry, Inc.		301		9,187
Carnival Corp.*		971		8,399
Newell Brands, Inc.		440		8,378
Bath & Body Works, Inc.		285		7,672
Wynn Resorts Ltd.*		126		7,179
Alaska Air Group, Inc.*		151		6,048
Penn National Gaming, Inc.*		195		5,932
Norwegian Cruise Line Holdings Ltd.*,1		500		5,560
Ralph Lauren Corp. — Class A		55		4,931
PVH Corp.		80		4,552
Total Consumer, Cyclical				3,473,897
Industrial - 3.9%
Raytheon Technologies Corp.		1,778		170,884
United Parcel Service, Inc. — Class B		878		160,270
Union Pacific Corp.		750		159,960
Honeywell International, Inc.		813		141,308
Lockheed Martin Corp.		283		121,679
Caterpillar, Inc.		638		114,049
Deere & Co.		334		100,023
Boeing Co.*		665		90,919
3M Co.		681		88,128
General Electric Co.		1,317		83,853
Northrop Grumman Corp.		175		83,750
CSX Corp.		2,601		75,585
Waste Management, Inc.		456		69,759
Norfolk Southern Corp.		285		64,778
FedEx Corp.		285		64,612
Illinois Tool Works, Inc.		338		61,601
General Dynamics Corp.		275		60,844
Eaton Corporation plc		477		60,097
Emerson Electric Co.		710		56,473
L3Harris Technologies, Inc.		230		55,591
Amphenol Corp. — Class A		714		45,967
TE Connectivity Ltd.		385		43,563
Agilent Technologies, Inc.		359		42,638
Johnson Controls International plc		832		39,836
Parker-Hannifin Corp.		154		37,892
Trane Technologies plc		280		36,364
Carrier Global Corp.		1,015		36,195
Otis Worldwide Corp.		505		35,688
TransDigm Group, Inc.*		62		33,273
Republic Services, Inc. — Class A		248		32,456
Mettler-Toledo International, Inc.*		27		31,017
AMETEK, Inc.		276		30,330
Keysight Technologies, Inc.*		218		30,051
Old Dominion Freight Line, Inc.		110		28,191
Rockwell Automation, Inc.		138		27,505
Ball Corp.		382		26,270
Fortive Corp.		429		23,329
Vulcan Materials Co.		158		22,452
Martin Marietta Materials, Inc.		75		22,443
Amcor plc		1,797		22,337
Teledyne Technologies, Inc.*		56		21,006
Dover Corp.		172		20,867
Ingersoll Rand, Inc.		486		20,451
Expeditors International of Washington, Inc.		201		19,589
Jacobs Engineering Group, Inc.		154		19,578
Stanley Black & Decker, Inc.		181		18,980
Westinghouse Air Brake Technologies Corp.		218		17,894
Garmin Ltd.		182		17,882
Trimble, Inc.*		299		17,411
Xylem, Inc.		215		16,809
IDEX Corp.		91		16,528
Generac Holdings, Inc.*		76		16,004
J.B. Hunt Transport Services, Inc.		100		15,747
Textron, Inc.		256		15,634
Packaging Corporation of America		112		15,400
CH Robinson Worldwide, Inc.		151		15,307
Masco Corp.		281		14,219
Howmet Aerospace, Inc.		450		14,152
Nordson Corp.		64		12,956
Snap-on, Inc.		63		12,413
Westrock Co.		304		12,111
Allegion plc		105		10,279
Huntington Ingalls Industries, Inc.		47		10,237
Sealed Air Corp.		175		10,101
Fortune Brands Home & Security, Inc.		156		9,341
Pentair plc		198		9,062
A O Smith Corp.		155		8,475
Mohawk Industries, Inc.*		61		7,569
Total Industrial				2,947,962

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 51.3% (continued)
Energy - 2.3%
Exxon Mobil Corp.		5,039	$	431,540
Chevron Corp.		2,350		340,233
ConocoPhillips		1,547		138,936
EOG Resources, Inc.		700		77,308
Occidental Petroleum Corp.		1,064		62,648
Schlumberger N.V.		1,690		60,434
Pioneer Natural Resources Co.		269		60,008
Marathon Petroleum Corp.		647		53,190
Valero Energy Corp.		488		51,865
Phillips 66		575		47,144
Williams Companies, Inc.		1,457		45,473
Devon Energy Corp.		734		40,451
Kinder Morgan, Inc.		2,333		39,101
Hess Corp.		331		35,066
Halliburton Co.		1,079		33,837
Baker Hughes Co.		1,119		32,306
Enphase Energy, Inc.*		162		31,629
ONEOK, Inc.		534		29,637
Coterra Energy, Inc. — Class A		964		24,862
Diamondback Energy, Inc.		200		24,230
Marathon Oil Corp.		846		19,018
SolarEdge Technologies, Inc.*		66		18,063
APA Corp.		404		14,100
Total Energy				1,711,079
Utilities - 1.6%
NextEra Energy, Inc.		2,350		182,031
Duke Energy Corp.		920		98,633
Southern Co.		1,271		90,635
Dominion Energy, Inc.		970		77,416
American Electric Power Company, Inc.		614		58,907
Sempra Energy		376		56,502
Exelon Corp.		1,172		53,115
Xcel Energy, Inc.		650		45,994
Consolidated Edison, Inc.		423		40,227
WEC Energy Group, Inc.		376		37,841
Public Service Enterprise Group, Inc.		597		37,778
Eversource Energy		413		34,886
American Water Works Company, Inc.		217		32,283
DTE Energy Co.		232		29,406
Edison International		456		28,838
Ameren Corp.		309		27,921
Entergy Corp.		242		27,259
FirstEnergy Corp.		683		26,220
PPL Corp.		880		23,874
CMS Energy Corp.		347		23,423
Constellation Energy Corp.		390		22,331
CenterPoint Energy, Inc.		753		22,274
Atmos Energy Corp.		166		18,608
Evergy, Inc.		274		17,879
Alliant Energy Corp.		300		17,583
AES Corp.		799		16,787
NiSource, Inc.		485		14,303
NRG Energy, Inc.		284		10,840
Pinnacle West Capital Corp.		135		9,871
Total Utilities				1,183,665
Basic Materials - 1.1%
Linde plc		602		173,093
Sherwin-Williams Co.		286		64,038
Air Products and Chemicals, Inc.		265		63,727
Newmont Corp.		949		56,627
Freeport-McMoRan, Inc.		1,733		50,707
Ecolab, Inc.		297		45,667
Dow, Inc.		870		44,901
International Flavors & Fragrances, Inc.		304		36,212
DuPont de Nemours, Inc.		608		33,793
Nucor Corp.		318		33,202
PPG Industries, Inc.		282		32,244
Albemarle Corp.		140		29,257
LyondellBasell Industries N.V. — Class A		309		27,025
CF Industries Holdings, Inc.		249		21,347
Mosaic Co.		433		20,451
International Paper Co.		443		18,531
FMC Corp.		151		16,158
Celanese Corp. — Class A		129		15,172
Eastman Chemical Co.		153		13,735
Total Basic Materials				795,887
Total Common Stocks
(Cost $40,312,771)				38,140,790
MUTUAL FUNDS† - 36.3%
Guggenheim Ultra Short Duration Fund — Institutional Class2		1,614,586		15,580,757
Guggenheim Strategy Fund II2		287,239		6,933,945
Guggenheim Strategy Fund III2		184,563		4,468,262
Total Mutual Funds
(Cost $27,730,528)				26,982,964
		Face Amount
U.S. TREASURY BILLS†† - 16.5%
U.S. Cash Management Bill
1.34% due 10/04/223,4	$	8,079,000		8,040,518
1.78% due 10/04/224		2,000,000		1,990,474
U.S. Treasury Bills
1.02% due 07/19/224,5		2,281,000		2,279,834
Total U.S. Treasury Bills
(Cost $12,319,697)				12,310,826
REPURCHASE AGREEMENTS††,6 - 15.3%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/223		6,386,817		6,386,817
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/223		2,487,261		2,487,261
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/223		2,462,635		2,462,635
Total Repurchase Agreements
(Cost $11,336,713)				11,336,713

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
SECURITIES LENDING COLLATERAL†,7 - 0.0%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%8		4,500	$	4,500
Total Securities Lending Collateral
(Cost $4,500)				4,500
Total Investments - 119.4%
(Cost $91,704,209)			$	88,775,793
Other Assets & Liabilities, net - (19.4)%				(14,444,289	)
Total Net Assets - 100.0%			$	74,331,504

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Purchased†
S&P 500 Index Mini Futures Contracts		206	Sep 2022	$	39,031,850	$	(1,143,014	)

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Depreciation

OTC Equity Index Swap Agreements††

Goldman Sachs International

S&P 500 Index

Pay

2.03% (Federal Funds Rate + 0.45%)

At Maturity

11/17/22

2,951

$

11,170,522

$

(50,023

)

BNP Paribas

S&P 500 Index

Pay

2.18% (Federal Funds Rate + 0.60%)

At Maturity

11/17/22

866

3,278,083

(442,294

)

Barclays Bank plc

S&P 500 Index

Pay

1.96% (SOFR + 0.45%)

At Maturity

11/16/22

5,256

19,894,310

(3,108,171

)

$

34,342,915

$

(3,600,488

)

*	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, 2022 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.
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, 2022.
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, 2022.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	38,140,790	$	—	$	—	$	38,140,790
Mutual Funds		26,982,964		—		—		26,982,964
U.S. Treasury Bills		—		12,310,826		—		12,310,826
Repurchase Agreements		—		11,336,713		—		11,336,713
Securities Lending Collateral		4,500		—		—		4,500
Total Assets	$	65,128,254	$	23,647,539	$	—	$	88,775,793
Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	1,143,014	$	—	$	—	$	1,143,014
Equity Index Swap Agreements**		—		3,600,488		—		3,600,488
Total Liabilities	$	1,143,014	$	3,600,488	$	—	$	4,743,502

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:
Security Name		Value 3/31/22		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value 6/30/22	Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	7,051,713	$	–	$	–		$	–		$	(117,768	)	$	6,933,945	287,239	$	35,931
Guggenheim Strategy Fund III		4,547,624		–		–			–			(79,362	)		4,468,262	184,563		22,695
Guggenheim Ultra Short Duration Fund — Institutional Class		23,837,568		–		(8,000,000	)		(150,552	)		(106,259	)		15,580,757	1,614,586		65,562
	$	35,436,905	$	–	$	(8,000,000	)	$	(150,552	)	$	(303,389	)	$	26,982,964		$	124,188

Precious Metals Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 96.6%
Mining - 96.6%
Newmont Corp.		117,207	$	6,993,742
Freeport-McMoRan, Inc.		218,376		6,389,682
Barrick Gold Corp.		307,168		5,433,802
Franco-Nevada Corp.		38,346		5,045,567
Agnico Eagle Mines Ltd.		96,417		4,412,042
Wheaton Precious Metals Corp.		112,151		4,040,800
Gold Fields Ltd. ADR1		306,700		2,797,104
Royal Gold, Inc.		25,083		2,678,363
Sibanye Stillwater Ltd. ADR		259,431		2,586,527
AngloGold Ashanti Ltd. ADR		166,979		2,469,619
Yamana Gold, Inc.		446,766		2,077,462
Kinross Gold Corp.		578,090		2,069,562
Pan American Silver Corp.		100,636		1,979,510
B2Gold Corp.		554,059		1,878,260
SSR Mining, Inc.		110,083		1,838,386
Alamos Gold, Inc. — Class A		238,083		1,671,343
Harmony Gold Mining Company Ltd. ADR		438,828		1,373,531
Hecla Mining Co.		349,307		1,369,283
First Majestic Silver Corp.		186,382		1,338,223
Osisko Gold Royalties Ltd.1		130,611		1,319,171
Novagold Resources, Inc.*		253,202		1,217,901
MAG Silver Corp.*		89,793		1,092,781
Equinox Gold Corp.*		242,309		1,075,852
Eldorado Gold Corp.*		165,526		1,057,711
Sandstorm Gold Ltd.		177,066		1,053,543
Seabridge Gold, Inc.*		77,876		967,999
SilverCrest Metals, Inc.*		153,584		938,398
Coeur Mining, Inc.*		295,300		897,712
Fortuna Silver Mines, Inc.*		310,541		881,936
IAMGOLD Corp.*		496,800		799,848
Endeavour Silver Corp.*,1		230,170		722,734
Silvercorp Metals, Inc.		257,954		639,726
Gatos Silver, Inc.*,1		159,740		458,454
Total Mining				71,566,574
Total Common Stocks
(Cost $77,638,064)				71,566,574
EXCHANGE-TRADED FUNDS† - 2.9%
VanEck Junior Gold Miners ETF		67,938		2,174,016
Total Exchange-Traded Funds
(Cost $2,031,409)				2,174,016
		Face Amount
REPURCHASE AGREEMENTS††,2 - 1.1%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	460,654		460,654
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		179,396		179,396
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		177,619		177,619
Total Repurchase Agreements
(Cost $817,669)				817,669
		Shares
SECURITIES LENDING COLLATERAL†,3 - 3.8%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		2,818,222		2,818,222
Total Securities Lending Collateral
(Cost $2,818,222)				2,818,222
Total Investments - 104.4%
(Cost $83,305,364)			$	77,376,481
Other Assets & Liabilities, net - (4.4)%				(3,276,112	)
Total Net Assets - 100.0%			$	74,100,369

*	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, 2022 — 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, 2022.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

Precious Metals Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	71,566,574	$	—	$	—	$	71,566,574
Exchange-Traded Funds		2,174,016		—		—		2,174,016
Repurchase Agreements		—		817,669		—		817,669
Securities Lending Collateral		2,818,222		—		—		2,818,222
Total Assets	$	76,558,812	$	817,669	$	—	$	77,376,481

Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.3%
REITs - 92.4%
REITs-Diversified - 25.9%
American Tower Corp. — Class A		316	$	80,766
Crown Castle International Corp.		390		65,668
Equinix, Inc.		88		57,818
Digital Realty Trust, Inc.		351		45,570
SBA Communications Corp.		142		45,447
VICI Properties, Inc.		1,282		38,191
Weyerhaeuser Co.		1,095		36,266
Duke Realty Corp.		603		33,135
WP Carey, Inc.		351		29,084
Gaming and Leisure Properties, Inc.		535		24,535
Lamar Advertising Co. — Class A		257		22,608
National Storage Affiliates Trust		375		18,776
Rayonier, Inc.		470		17,569
Vornado Realty Trust		599		17,125
PS Business Parks, Inc.		89		16,656
EPR Properties		299		14,032
Broadstone Net Lease, Inc.		648		13,291
PotlatchDeltic Corp.		293		12,948
Outfront Media, Inc.		727		12,323
National Health Investors, Inc.		196		11,880
Uniti Group, Inc.		1,146		10,795
New Residential Investment Corp.		1,108		10,327
Washington Real Estate Investment Trust		472		10,058
Total REITs-Diversified				644,868
REITs-Apartments - 12.6%
AvalonBay Communities, Inc.		200		38,850
Equity Residential		525		37,916
Mid-America Apartment Communities, Inc.		194		33,886
Invitation Homes, Inc.		946		33,659
Essex Property Trust, Inc.		118		30,858
Camden Property Trust		209		28,106
UDR, Inc.		610		28,084
American Homes 4 Rent — Class A		730		25,871
American Campus Communities, Inc.*		340		21,920
Apartment Income REIT Corp.		459		19,094
Independence Realty Trust, Inc.		738		15,299
Total REITs-Apartments				313,543
REITs-Health Care - 8.7%
Welltower, Inc.		541		44,551
Ventas, Inc.		640		32,915
Healthpeak Properties, Inc.		1,037		26,869
Medical Properties Trust, Inc.		1,469		22,432
Omega Healthcare Investors, Inc.		664		18,718
Healthcare Trust of America, Inc. — Class A		642		17,918
Physicians Realty Trust		803		14,012
Healthcare Realty Trust, Inc.		503		13,682
Sabra Health Care REIT, Inc.		905		12,643
CareTrust REIT, Inc.		526		9,699
Total REITs-Health Care				213,439
REITs-Office Property - 8.4%
Alexandria Real Estate Equities, Inc.		262		37,998
Boston Properties, Inc.		309		27,495
Kilroy Realty Corp.		350		18,316
Cousins Properties, Inc.		517		15,112
Douglas Emmett, Inc.		639		14,301
Highwoods Properties, Inc.		412		14,086
Equity Commonwealth*		472		12,994
LXP Industrial Trust		1,204		12,931
Corporate Office Properties Trust		482		12,624
SL Green Realty Corp.		271		12,507
JBG SMITH Properties		521		12,316
Hudson Pacific Properties, Inc.		707		10,492
Brandywine Realty Trust		975		9,399
Total REITs-Office Property				210,571
REITs-Warehouse/Industries - 7.8%
Prologis, Inc.		574		67,531
Rexford Industrial Realty, Inc.		391		22,518
Americold Realty Trust, Inc.		703		21,118
EastGroup Properties, Inc.		124		19,137
First Industrial Realty Trust, Inc.		388		18,422
STAG Industrial, Inc.		552		17,046
Terreno Realty Corp.		267		14,880
Innovative Industrial Properties, Inc.		119		13,075
Total REITs-Warehouse/Industries				193,727
REITs-Storage - 6.5%
Public Storage		175		54,717
Extra Space Storage, Inc.		211		35,895
Iron Mountain, Inc.		571		27,802
Life Storage, Inc.		202		22,555
CubeSmart		524		22,385
Total REITs-Storage				163,354
REITs-Shopping Centers - 6.0%
Kimco Realty Corp.		1,300		25,701
Regency Centers Corp.		398		23,605
Federal Realty OP, LP		214		20,488
Brixmor Property Group, Inc.		887		17,926
Phillips Edison & Company, Inc.1		453		15,135
Kite Realty Group Trust		805		13,918
SITE Centers Corp.		894		12,042
Retail Opportunity Investments Corp.		646		10,194
Acadia Realty Trust		556		8,685
Total REITs-Shopping Centers				147,694
REITs-Single Tenant - 5.4%
Realty Income Corp.		680		46,417
National Retail Properties, Inc.		477		20,511
STORE Capital Corp.		746		19,456
Agree Realty Corp.		248		17,888
Spirit Realty Capital, Inc.		439		16,585
Essential Properties Realty Trust, Inc.		564		12,120
Total REITs-Single Tenant				132,977
REITs-Hotels - 3.7%
Host Hotels & Resorts, Inc.		1,473		23,097

Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.3% (continued)
REITs - 92.4% (continued)
REITs-Hotels - 3.7% (continued)
Ryman Hospitality Properties, Inc.*		199	$	15,130
Apple Hospitality REIT, Inc.		877		12,866
Park Hotels & Resorts, Inc.		939		12,742
Sunstone Hotel Investors, Inc.*		1,051		10,426
Pebblebrook Hotel Trust		619		10,257
RLJ Lodging Trust		870		9,596
Total REITs-Hotels				94,114
REITs-Mortgage - 2.9%
Starwood Property Trust, Inc.		894		18,676
Blackstone Mortgage Trust, Inc. — Class A		586		16,215
Arbor Realty Trust, Inc.		877		11,498
Chimera Investment Corp.		1,288		11,360
AGNC Investment Corp.		995		11,015
Total REITs-Mortgage				68,764
REITs-Manufactured Homes - 2.4%
Sun Communities, Inc.		204		32,509
Equity LifeStyle Properties, Inc.		371		26,144
Total REITs-Manufactured Homes				58,653
REITs-Regional Malls - 2.1%
Simon Property Group, Inc.		437		41,480
Macerich Co.		1,121		9,764
Total REITs-Regional Malls				51,244
Total REITs				2,292,948
Real Estate - 4.6%
Real Estate Management/Services - 4.0%
CBRE Group, Inc. — Class A*		503		37,026
Jones Lang LaSalle, Inc.*		133		23,257
Cushman & Wakefield plc*		914		13,929
eXp World Holdings, Inc.		842		9,910
Anywhere Real Estate, Inc.*		807		7,933
Redfin Corp.*		905		7,457
Total Real Estate Management/Services				99,512
Real Estate Operations/Development - 0.6%
Howard Hughes Corp.*		217		14,767
Total Real Estate				114,279
Internet - 1.7%
E-Commerce/Services - 1.7%
Zillow Group, Inc. — Class C*		670		21,272
Zillow Group, Inc. — Class A*		667		21,217
Total E-Commerce/Services				42,489
Total Internet				42,489
Diversified Financial Services - 0.6%
Finance-Commercial - 0.6%
Hannon Armstrong Sustainable Infrastructure Capital, Inc.1		370		14,008
Total Common Stocks
(Cost $1,950,285)				2,463,724
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	10,381		10,381
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		4,043		4,043
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		4,003		4,003
Total Repurchase Agreements
(Cost $18,427)				18,427
		Shares
SECURITIES LENDING COLLATERAL†,3 - 0.7%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		16,643		16,643
Total Securities Lending Collateral
(Cost $16,643)				16,643
Total Investments - 100.7%
(Cost $1,985,355)			$	2,498,794
Other Assets & Liabilities, net - (0.7)%				(18,320	)
Total Net Assets - 100.0%			$	2,480,474

*	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, 2022 — 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, 2022.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	2,463,724	$	—	$	—	$	2,463,724
Repurchase Agreements		—		18,427		—		18,427
Securities Lending Collateral		16,643		—		—		16,643
Total Assets	$	2,480,367	$	18,427	$	—	$	2,498,794

Retailing Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
Retail - 63.4%
Walmart, Inc.		4,655	$	565,955
Home Depot, Inc.		1,933		530,164
Costco Wholesale Corp.		815		390,613
Lowe's Companies, Inc.		1,928		336,764
TJX Companies, Inc.		4,493		250,934
Target Corp.		1,768		249,695
Dollar General Corp.		968		237,586
AutoZone, Inc.*		98		210,614
O'Reilly Automotive, Inc.*		331		209,112
Dollar Tree, Inc.*		1,216		189,514
Walgreens Boots Alliance, Inc.		4,615		174,908
Ross Stores, Inc.		2,147		150,784
Tractor Supply Co.		757		146,744
Genuine Parts Co.		1,046		139,118
Ulta Beauty, Inc.*		358		138,002
CarMax, Inc.*		1,384		125,224
Best Buy Company, Inc.		1,810		117,994
Advance Auto Parts, Inc.		604		104,546
Lithia Motors, Inc. — Class A		349		95,909
GameStop Corp. — Class A*,1		776		94,905
BJ's Wholesale Club Holdings, Inc.*		1,483		92,420
Burlington Stores, Inc.*		659		89,776
Williams-Sonoma, Inc.		777		86,208
AutoNation, Inc.*		770		86,055
Floor & Decor Holdings, Inc. — Class A*		1,352		85,122
Dick's Sporting Goods, Inc.1		1,064		80,194
Five Below, Inc.*		691		78,380
Murphy USA, Inc.		332		77,313
Bath & Body Works, Inc.		2,667		71,796
RH*		333		70,683
Macy's, Inc.		3,823		70,037
Asbury Automotive Group, Inc.*		393		66,551
Kohl's Corp.		1,715		61,208
Ollie's Bargain Outlet Holdings, Inc.*		999		58,691
Academy Sports & Outdoors, Inc.		1,602		56,935
Nordstrom, Inc.1		2,627		55,508
Gap, Inc.		6,413		52,843
Signet Jewelers Ltd.		925		49,450
Victoria's Secret & Co.*		1,672		46,766
Foot Locker, Inc.		1,852		46,763
American Eagle Outfitters, Inc.1		3,664		40,963
Abercrombie & Fitch Co. — Class A*		1,687		28,544
Big Lots, Inc.		1,178		24,703
Bed Bath & Beyond, Inc.*,1		3,845		19,110
Carvana Co.*		770		17,387
Total Retail				5,972,491
Internet - 33.1%
Amazon.com, Inc.*		9,467		1,005,490
Booking Holdings, Inc.*		150		262,349
Alibaba Group Holding Ltd. ADR*		2,101		238,842
DoorDash, Inc. — Class A*		2,590		166,200
JD.com, Inc. ADR		2,495		160,229
MercadoLibre, Inc.*		245		156,033
eBay, Inc.		3,717		154,888
Pinduoduo, Inc. ADR*		2,152		132,994
Chewy, Inc. — Class A*,1		3,724		129,297
Trip.com Group Ltd. ADR*		4,709		129,262
Expedia Group, Inc.*		1,292		122,520
Coupang, Inc.*		8,328		106,182
Etsy, Inc.*		1,368		100,151
Fiverr International Ltd.*		2,629		90,411
Wayfair, Inc. — Class A*,1		1,568		68,302
Revolve Group, Inc.*		1,697		43,969
Overstock.com, Inc.*		1,245		31,138
Stitch Fix, Inc. — Class A*		4,164		20,570
Total Internet				3,118,827
Distribution & Wholesale - 2.6%
Pool Corp.		350		122,931
LKQ Corp.		2,472		121,350
Total Distribution & Wholesale				244,281
Apparel - 0.4%
Urban Outfitters, Inc.*		2,123		39,615
Total Common Stocks
(Cost $7,868,454)				9,375,214
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.5%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	24,161		24,161
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		9,409		9,409
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		9,316		9,316
Total Repurchase Agreements
(Cost $42,886)				42,886
		Shares
SECURITIES LENDING COLLATERAL†,3 - 4.5%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		420,344		420,344
Total Securities Lending Collateral
(Cost $420,344)				420,344
Total Investments - 104.5%
(Cost $8,331,684)			$	9,838,444
Other Assets & Liabilities, net - (4.5)%				(420,112	)
Total Net Assets - 100.0%			$	9,418,332

Retailing Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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, 2022 — 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, 2022.

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, 2022 (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	$	9,375,214	$	—	$	—	$	9,375,214
Repurchase Agreements		—		42,886		—		42,886
Securities Lending Collateral		420,344		—		—		420,344
Total Assets	$	9,795,558	$	42,886	$	—	$	9,838,444

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 68.3%
Financial - 16.5%
SouthState Corp.		161	$	12,421
STAG Industrial, Inc. REIT		387		11,951
Agree Realty Corp. REIT		159		11,469
Glacier Bancorp, Inc.		238		11,286
Selective Insurance Group, Inc.		128		11,128
First Financial Bankshares, Inc.		279		10,956
Kinsale Capital Group, Inc.		46		10,563
Blackstone Mortgage Trust, Inc. — Class A REIT		365		10,100
United Bankshares, Inc.		284		9,960
Independence Realty Trust, Inc. REIT		475		9,847
RLI Corp.		84		9,794
Valley National Bancorp		924		9,619
Old National Bancorp		629		9,303
Cadence Bank		393		9,228
Terreno Realty Corp. REIT		159		8,861
Healthcare Realty Trust, Inc. REIT		325		8,840
Essent Group Ltd.		226		8,791
Ryman Hospitality Properties, Inc. REIT*		115		8,743
Houlihan Lokey, Inc.		109		8,603
ServisFirst Bancshares, Inc.		108		8,523
Home BancShares, Inc.		408		8,474
Physicians Realty Trust REIT		482		8,411
Hancock Whitney Corp.		185		8,201
Phillips Edison & Company, Inc. REIT1		245		8,185
UMB Financial Corp.		94		8,093
Kite Realty Group Trust REIT		467		8,074
PS Business Parks, Inc. REIT		43		8,047
Independent Bank Corp.		100		7,943
First Interstate BancSystem, Inc. — Class A		201		7,660
Broadstone Net Lease, Inc. REIT		363		7,445
Radian Group, Inc.		372		7,310
Community Bank System, Inc.		114		7,214
CVB Financial Corp.		290		7,195
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT		183		6,928
Sabra Health Care REIT, Inc.		495		6,915
United Community Banks, Inc.		228		6,883
Apple Hospitality REIT, Inc.		461		6,763
Innovative Industrial Properties, Inc. REIT		60		6,592
LXP Industrial Trust REIT		607		6,519
PotlatchDeltic Corp. REIT		146		6,452
Eastern Bankshares, Inc.		345		6,369
Equity Commonwealth REIT*		231		6,359
Walker & Dunlop, Inc.		66		6,358
Corporate Office Properties Trust REIT		242		6,338
BankUnited, Inc.		175		6,225
American Equity Investment Life Holding Co.		167		6,107
Cathay General Bancorp		154		6,029
Essential Properties Realty Trust, Inc. REIT		280		6,017
Federated Hermes, Inc. — Class B		188		5,977
Pacific Premier Bancorp, Inc.		201		5,877
Associated Banc-Corp.		320		5,843
National Health Investors, Inc. REIT		95		5,758
Texas Capital Bancshares, Inc.*		109		5,738
Mr Cooper Group, Inc.*		156		5,731
Ameris Bancorp		142		5,706
Simmons First National Corp. — Class A		268		5,698
SITE Centers Corp. REIT		418		5,630
WSFS Financial Corp.		138		5,532
Atlantic Union Bankshares Corp.		161		5,461
Moelis & Co. — Class A		138		5,430
First BanCorp		420		5,422
Independent Bank Group, Inc.		79		5,365
Enstar Group Ltd.*		25		5,350
Outfront Media, Inc. REIT		314		5,322
Cushman & Wakefield plc*		341		5,197
Hamilton Lane, Inc. — Class A		76		5,106
Trupanion, Inc.*		84		5,062
Fulton Financial Corp.		336		4,855
Columbia Banking System, Inc.		169		4,842
Uniti Group, Inc. REIT		509		4,795
Kennedy-Wilson Holdings, Inc.		253		4,792
International Bancshares Corp.		117		4,689
Pebblebrook Hotel Trust REIT		279		4,623
Artisan Partners Asset Management, Inc. — Class A		129		4,589
Four Corners Property Trust, Inc. REIT		172		4,574
Sunstone Hotel Investors, Inc. REIT*		461		4,573
Chimera Investment Corp. REIT		510		4,498
CNO Financial Group, Inc.		247		4,468
Axos Financial, Inc.*		123		4,410
First Merchants Corp.		123		4,381
Arbor Realty Trust, Inc. REIT		333		4,366
Jackson Financial, Inc. — Class A		162		4,333
Seacoast Banking Corporation of Florida		130		4,295
Focus Financial Partners, Inc. — Class A*		124		4,223
Piper Sandler Cos.		37		4,194
Washington Federal, Inc.		139		4,173
Banner Corp.		73		4,103
Retail Opportunity Investments Corp. REIT		259		4,087
Macerich Co. REIT		462		4,024
BancFirst Corp.		42		4,020
Washington Real Estate Investment Trust REIT		187		3,985
Flagstar Bancorp, Inc.		112		3,970
Bread Financial Holdings, Inc.		107		3,965
WesBanco, Inc.		125		3,964
McGrath RentCorp		52		3,952
TowneBank		144		3,910
RLJ Lodging Trust REIT		353		3,894
First Financial Bancorp		200		3,880
Genworth Financial, Inc. — Class A*		1,091		3,851
Trustmark Corp.		131		3,824

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
CareTrust REIT, Inc.	207	$	3,817
Park National Corp.	31		3,759
InvenTrust Properties Corp. REIT	145		3,740
Urban Edge Properties REIT	245		3,726
Easterly Government Properties, Inc. REIT	195		3,713
Sandy Spring Bancorp, Inc.	95		3,712
DiamondRock Hospitality Co. REIT*	450		3,695
Two Harbors Investment Corp. REIT	741		3,690
Heartland Financial USA, Inc.	88		3,656
Stock Yards Bancorp, Inc.	61		3,649
Silvergate Capital Corp. — Class A*	67		3,587
PJT Partners, Inc. — Class A	51		3,584
Provident Financial Services, Inc.	160		3,562
Xenia Hotels & Resorts, Inc. REIT*	245		3,560
Lakeland Financial Corp.	53		3,520
Hilltop Holdings, Inc.	132		3,519
Brandywine Realty Trust REIT	364		3,509
Navient Corp.	249		3,484
Piedmont Office Realty Trust, Inc. — Class A REIT	264		3,464
Hope Bancorp, Inc.	249		3,446
Cohen & Steers, Inc.	54		3,434
Horace Mann Educators Corp.	89		3,416
NBT Bancorp, Inc.	90		3,383
Renasant Corp.	117		3,371
Palomar Holdings, Inc.*	52		3,349
Northwest Bancshares, Inc.	261		3,341
Bank of NT Butterfield & Son Ltd.	107		3,337
Veritex Holdings, Inc.	113		3,306
Claros Mortgage Trust, Inc.	197		3,300
Eagle Bancorp, Inc.	68		3,224
Triumph Bancorp, Inc.*	51		3,191
LTC Properties, Inc. REIT	83		3,186
Global Net Lease, Inc. REIT	223		3,158
Enterprise Financial Services Corp.	76		3,154
Apollo Commercial Real Estate Finance, Inc. REIT	302		3,153
American Assets Trust, Inc. REIT	106		3,148
Cannae Holdings, Inc.*	162		3,133
Acadia Realty Trust REIT	200		3,124
Westamerica BanCorp	56		3,117
TriCo Bancshares	68		3,104
PRA Group, Inc.*	85		3,091
Tanger Factory Outlet Centers, Inc. REIT	217		3,086
Newmark Group, Inc. — Class A	317		3,065
NexPoint Residential Trust, Inc. REIT	49		3,063
FB Financial Corp.	78		3,059
BRP Group, Inc. — Class A*	125		3,019
NMI Holdings, Inc. — Class A*	181		3,014
Safety Insurance Group, Inc.	31		3,010
Encore Capital Group, Inc.*	52		3,004
StepStone Group, Inc. — Class A	113		2,941
St. Joe Co.	74		2,927
Paramount Group, Inc. REIT	400		2,892
StoneX Group, Inc.*	37		2,889
Stewart Information Services Corp.	58		2,885
Compass Diversified Holdings	130		2,785
Alexander & Baldwin, Inc. REIT	155		2,782
PennyMac Financial Services, Inc.	63		2,754
ProAssurance Corp.	116		2,741
Nelnet, Inc. — Class A	32		2,728
PennyMac Mortgage Investment Trust REIT	197		2,725
Centerspace REIT	33		2,691
First Commonwealth Financial Corp.	200		2,684
First Bancorp	76		2,652
OFG Bancorp	102		2,591
Ladder Capital Corp. — Class A REIT	244		2,572
Virtus Investment Partners, Inc.	15		2,565
Capitol Federal Financial, Inc.	279		2,561
City Holding Co.	32		2,556
LendingClub Corp.*	217		2,537
First Busey Corp.	111		2,536
Mercury General Corp.	57		2,525
Argo Group International Holdings Ltd.	68		2,506
Employers Holdings, Inc.	59		2,472
Southside Bancshares, Inc.	66		2,470
Berkshire Hills Bancorp, Inc.	99		2,452
Veris Residential, Inc. REIT*	185		2,449
Radius Global Infrastructure, Inc. — Class A*	160		2,442
Franklin BSP Realty Trust, Inc. REIT	181		2,440
Anywhere Real Estate, Inc.*	248		2,438
National Bank Holdings Corp. — Class A	63		2,411
Meta Financial Group, Inc.	62		2,398
Getty Realty Corp. REIT	90		2,385
Live Oak Bancshares, Inc.	70		2,372
OceanFirst Financial Corp.	124		2,372
MFA Financial, Inc. REIT	220		2,365
Bancorp, Inc.*	119		2,323
BGC Partners, Inc. — Class A	685		2,308
S&T Bancorp, Inc.	84		2,304
First Foundation, Inc.	110		2,253
New York Mortgage Trust, Inc. REIT	815		2,249
Customers Bancorp, Inc.*	66		2,237
Brookline Bancorp, Inc.	163		2,170
Tompkins Financial Corp.	30		2,163
Dime Community Bancshares, Inc.	72		2,135
AMERISAFE, Inc.	41		2,132
Flywire Corp.*	119		2,098
Necessity Retail REIT, Inc.	287		2,089
Empire State Realty Trust, Inc. — Class A REIT	296		2,081
Banc of California, Inc.	118		2,079
Office Properties Income Trust REIT	103		2,055
Apartment Investment and Management Co. — Class A REIT*	321		2,054

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Compass, Inc. — Class A*	559	$	2,018
German American Bancorp, Inc.	59		2,017
Redwood Trust, Inc. REIT	258		1,989
Preferred Bank/Los Angeles CA	29		1,973
Marcus & Millichap, Inc.	53		1,960
Enova International, Inc.*	68		1,960
James River Group Holdings Ltd.	79		1,958
Industrial Logistics Properties Trust REIT	139		1,957
ConnectOne Bancorp, Inc.	80		1,956
Farmer Mac — Class C	20		1,953
iStar, Inc. REIT	142		1,947
Lakeland Bancorp, Inc.	133		1,944
QCR Holdings, Inc.	36		1,944
NETSTREIT Corp. REIT	103		1,944
KKR Real Estate Finance Trust, Inc. REIT	111		1,937
Premier Financial Corp.	76		1,927
Ready Capital Corp. REIT	159		1,895
Nicolet Bankshares, Inc.*	26		1,881
Goosehead Insurance, Inc. — Class A	41		1,872
Broadmark Realty Capital, Inc. REIT	279		1,872
UMH Properties, Inc. REIT	106		1,872
Blucora, Inc.*	101		1,864
Origin Bancorp, Inc.	48		1,862
Heritage Financial Corp.	74		1,862
B Riley Financial, Inc.	44		1,859
Redfin Corp.*	225		1,854
Armada Hoffler Properties, Inc. REIT	144		1,849
Community Healthcare Trust, Inc. REIT	51		1,847
Service Properties Trust REIT	352		1,841
Ellington Financial, Inc. REIT	122		1,790
Washington Trust Bancorp, Inc.	37		1,790
RPT Realty REIT	179		1,760
eXp World Holdings, Inc.	147		1,730
Amerant Bancorp, Inc.	60		1,687
GEO Group, Inc. REIT*	254		1,676
Safehold, Inc. REIT	47		1,662
Summit Hotel Properties, Inc. REIT*	225		1,636
Columbia Financial, Inc.*	74		1,614
Bluerock Residential Growth REIT, Inc.	61		1,604
Univest Financial Corp.	63		1,603
Peoples Bancorp, Inc.	60		1,596
1st Source Corp.	35		1,589
Allegiance Bancshares, Inc.	42		1,586
United Fire Group, Inc.	46		1,575
Lemonade, Inc.*,1	86		1,570
ARMOUR Residential REIT, Inc.1	220		1,549
Gladstone Commercial Corp. REIT	82		1,545
BrightSpire Capital, Inc. REIT	204		1,540
Gladstone Land Corp. REIT	69		1,529
Metropolitan Bank Holding Corp.*	22		1,527
Horizon Bancorp, Inc.	86		1,498
WisdomTree Investments, Inc.	292		1,480
Kearny Financial Corp.	133		1,478
Global Medical REIT, Inc.	131		1,471
Hanmi Financial Corp.	65		1,459
Universal Health Realty Income Trust REIT	27		1,437
International Money Express, Inc.*	70		1,433
First Mid Bancshares, Inc.	40		1,427
Plymouth Industrial REIT, Inc.	81		1,421
Community Trust Bancorp, Inc.	34		1,375
Enact Holdings, Inc.	64		1,375
Camden National Corp.	31		1,366
Farmland Partners, Inc. REIT	98		1,352
HarborOne Bancorp, Inc.	98		1,351
Heritage Commerce Corp.	126		1,347
CBL & Associates Properties, Inc. REIT	57		1,339
Orion Office REIT, Inc.	122		1,337
TPG RE Finance Trust, Inc. REIT	148		1,333
Cowen, Inc. — Class A	56		1,327
Flushing Financial Corp.	62		1,318
HomeStreet, Inc.	38		1,317
CrossFirst Bankshares, Inc.*	98		1,294
Brookfield Business Corp. — Class A	56		1,289
MBIA, Inc.*	103		1,272
Byline Bancorp, Inc.	53		1,261
Central Pacific Financial Corp.	58		1,244
Brightsphere Investment Group, Inc.	69		1,243
Dynex Capital, Inc. REIT	78		1,242
Cambridge Bancorp	15		1,240
TrustCo Bank Corporation NY	40		1,234
Great Southern Bancorp, Inc.	21		1,230
Northfield Bancorp, Inc.	94		1,225
Old Second Bancorp, Inc.	91		1,218
First Bancshares, Inc.	42		1,201
City Office REIT, Inc.	92		1,191
Saul Centers, Inc. REIT	25		1,178
Ares Commercial Real Estate Corp. REIT	96		1,174
First Financial Corp.	25		1,113
Ambac Financial Group, Inc.*	98		1,112
Alexander's, Inc. REIT	5		1,111
Granite Point Mortgage Trust, Inc. REIT	115		1,101
Peapack-Gladstone Financial Corp.	37		1,099
Orchid Island Capital, Inc. REIT1	382		1,089
Midland States Bancorp, Inc.	45		1,082
Bank of Marin Bancorp	34		1,081
Chatham Lodging Trust REIT*	103		1,076
Whitestone REIT — Class B	100		1,075
SiriusPoint Ltd.*	198		1,073
Bank First Corp.	14		1,061
CatchMark Timber Trust, Inc. — Class A REIT	105		1,056
Mercantile Bank Corp.	33		1,054
Invesco Mortgage Capital, Inc. REIT	71		1,042
Diamond Hill Investment Group, Inc.	6		1,042
CBTX, Inc.	39		1,037
Urstadt Biddle Properties, Inc. — Class A REIT	64		1,037

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
First Community Bankshares, Inc.	35	$	1,029
HCI Group, Inc.	15		1,016
National Western Life Group, Inc. — Class A	5		1,013
World Acceptance Corp.*	9		1,010
Farmers National Banc Corp.	67		1,005
RE/MAX Holdings, Inc. — Class A	40		981
LendingTree, Inc.*	22		964
Equity Bancshares, Inc. — Class A	33		962
Business First Bancshares, Inc.	45		959
RMR Group, Inc. — Class A	33		935
Diversified Healthcare Trust REIT	510		928
Arrow Financial Corp.	29		922
Republic Bancorp, Inc. — Class A	19		917
One Liberty Properties, Inc. REIT	35		909
MidWestOne Financial Group, Inc.	30		892
Franklin Street Properties Corp. REIT	212		884
AssetMark Financial Holdings, Inc.*	46		863
Capstar Financial Holdings, Inc.	44		863
Farmers & Merchants Bancorp Incorporated/Archbold OH	26		863
West BanCorp, Inc.	35		852
Hingham Institution For Savings The	3		851
CNB Financial Corp.	35		847
FRP Holdings, Inc.*	14		845
Victory Capital Holdings, Inc. — Class A	35		843
First of Long Island Corp.	48		841
Coastal Financial Corp.*	22		839
Peoples Financial Services Corp.	15		838
Mid Penn Bancorp, Inc.	31		836
Financial Institutions, Inc.	32		833
Independent Bank Corp.	43		829
Bar Harbor Bankshares	32		828
Metrocity Bankshares, Inc.	40		812
Capital City Bank Group, Inc.	29		809
EZCORP, Inc. — Class A*	107		804
SmartFinancial, Inc.	33		797
Douglas Elliman, Inc.	162		776
HomeTrust Bancshares, Inc.	31		775
Citizens & Northern Corp.	32		773
Merchants Bancorp	34		771
Southern Missouri Bancorp, Inc.	17		770
Alerus Financial Corp.	32		762
American National Bankshares, Inc.	22		761
CTO Realty Growth, Inc. REIT	12		733
Waterstone Financial, Inc.	43		733
Universal Insurance Holdings, Inc.	56		730
Five Star Bancorp	27		713
Selectquote, Inc.*	287		712
Bridgewater Bancshares, Inc.*	44		710
Shore Bancshares, Inc.	38		703
First Internet Bancorp	19		700
Southern First Bancshares, Inc.*	16		697
Carter Bankshares, Inc.*	52		686
MVB Financial Corp.	22		684
Blue Foundry Bancorp*	56		671
Summit Financial Group, Inc.	24		667
Cedar Realty Trust, Inc. REIT	23		662
RBB Bancorp	32		661
Civista Bancshares, Inc.	31		659
Hersha Hospitality Trust REIT*	67		657
Primis Financial Corp.	48		654
Indus Realty Trust, Inc. REIT	11		653
Guaranty Bancshares, Inc.	18		653
Enterprise Bancorp, Inc.	20		644
First Bancorp, Inc.	21		633
Braemar Hotels & Resorts, Inc. REIT	147		631
GCM Grosvenor, Inc. — Class A	92		630
Sierra Bancorp	29		630
Oppenheimer Holdings, Inc. — Class A	19		628
Regional Management Corp.	16		598
Amalgamated Financial Corp.	30		593
Third Coast Bancshares, Inc.*	27		591
Perella Weinberg Partners	100		583
Baycom Corp.	28		579
Postal Realty Trust, Inc. — Class A REIT	38		566
Orrstown Financial Services, Inc.	23		556
Blue Ridge Bankshares, Inc.	36		552
Home Bancorp, Inc.	16		546
Donegal Group, Inc. — Class A	32		546
Tiptree, Inc. — Class A	51		542
John Marshall Bancorp, Inc.	24		541
BRT Apartments Corp. REIT	25		537
ACNB Corp.	18		534
South Plains Financial, Inc.	22		531
First Business Financial Services, Inc.	17		530
Colony Bankcorp, Inc.	35		528
BCB Bancorp, Inc.	31		528
AFC Gamma, Inc. REIT	34		521
PCSB Financial Corp.	27		515
Northeast Bank	14		511
Esquire Financial Holdings, Inc.	15		500
Oportun Financial Corp.*	60		496
Macatawa Bank Corp.	56		495
Seritage Growth Properties REIT*	94		490
FVCBankcorp, Inc.*	26		490
Red River Bancshares, Inc.	9		487
Provident Bancorp, Inc.	31		487
eHealth, Inc.*	52		485
Hippo Holdings, Inc.*	546		480
Investors Title Co.	3		471
Sculptor Capital Management, Inc.	56		468
PCB Bancorp	25		467
First Western Financial, Inc.*	17		462
First Bank/Hamilton NJ	33		461
Parke Bancorp, Inc.	22		461
Ashford Hospitality Trust, Inc. REIT*	74		443
NerdWallet, Inc. — Class A*	55		436

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Greenlight Capital Re Ltd. — Class A*	56	$	433
Manning & Napier, Inc. — Class A	34		424
Stratus Properties, Inc.*	13		419
Luther Burbank Corp.	32		418
Capital Bancorp, Inc.	19		412
Unity Bancorp, Inc.	15		397
Republic First Bancorp, Inc.*	104		396
HBT Financial, Inc.	22		393
Bankwell Financial Group, Inc.	12		373
Root, Inc. — Class A*	299		356
Silvercrest Asset Management Group, Inc. — Class A	21		345
Nexpoint Real Estate Finance, Inc. REIT	17		345
Angel Oak Mortgage, Inc. REIT	26		337
Offerpad Solutions, Inc.*	146		318
Consumer Portfolio Services, Inc.*	31		318
Greene County Bancorp, Inc.	7		317
Atlanticus Holdings Corp.*	9		317
First Guaranty Bancshares, Inc.	13		316
Doma Holdings, Inc.*	294		303
Trean Insurance Group, Inc.*	48		299
NI Holdings, Inc.*	18		296
Crawford & Co. — Class A	36		281
USCB Financial Holdings, Inc.*	23		265
Curo Group Holdings Corp.	47		260
Legacy Housing Corp.*	19		248
Pioneer Bancorp, Inc.*	25		245
Pzena Investment Management, Inc. — Class A	36		237
Chicago Atlantic Real Estate Finance, Inc.	15		226
Sterling Bancorp, Inc.*	37		211
GAMCO Investors, Inc. — Class A	10		209
Clipper Realty, Inc. REIT	26		201
Velocity Financial, Inc.*	18		198
Sunlight Financial Holdings, Inc.*	52		153
Associated Capital Group, Inc. — Class A	4		143
SWK Holdings Corp.*	8		140
Finance of America Companies, Inc. — Class A*	83		130
Transcontinental Realty Investors, Inc.*	3		119
OppFi, Inc.*	29		95
Cryptyde, Inc.*	39		80
Home Point Capital, Inc.1	17		67
American Realty Investors, Inc.*	3		43
Applied Blockchain, Inc.*	17		18
Total Financial			1,181,291
Consumer, Non-cyclical - 16.5%
Biohaven Pharmaceutical Holding Company Ltd.*	134		19,525
Shockwave Medical, Inc.*	76		14,529
Halozyme Therapeutics, Inc.*	291		12,804
Intra-Cellular Therapies, Inc.*	196		11,188
HealthEquity, Inc.*	178		10,927
Omnicell, Inc.*	94		10,692
Inspire Medical Systems, Inc.*	58		10,595
AMN Healthcare Services, Inc.*	96		10,532
Alkermes plc*	350		10,427
LHC Group, Inc.*	64		9,967
Sanderson Farms, Inc.	46		9,914
ASGN, Inc.*	108		9,747
Lantheus Holdings, Inc.*	147		9,706
Medpace Holdings, Inc.*	59		8,831
Apellis Pharmaceuticals, Inc.*	195		8,818
Option Care Health, Inc.*	308		8,559
Ensign Group, Inc.	116		8,523
Intellia Therapeutics, Inc.*	162		8,385
Helen of Troy Ltd.*	51		8,283
Insperity, Inc.	78		7,787
Arrowhead Pharmaceuticals, Inc.*	221		7,781
Celsius Holdings, Inc.*	117		7,635
Turning Point Therapeutics, Inc.*	98		7,375
STAAR Surgical Co.*	103		7,306
Simply Good Foods Co.*	193		7,290
LivaNova plc*	115		7,184
Triton International Ltd.	136		7,160
Haemonetics Corp.*	109		7,105
Karuna Therapeutics, Inc.*	56		7,085
Inari Medical, Inc.*	103		7,003
Cytokinetics, Inc.*	176		6,915
iRhythm Technologies, Inc.*	64		6,914
Korn Ferry	115		6,672
API Group Corp.*	444		6,647
Merit Medical Systems, Inc.*	120		6,512
Blueprint Medicines Corp.*	128		6,465
Alarm.com Holdings, Inc.*	103		6,372
Prestige Consumer Healthcare, Inc.*	108		6,350
Amicus Therapeutics, Inc.*	591		6,347
Hostess Brands, Inc.*	296		6,278
ABM Industries, Inc.	144		6,252
BellRing Brands, Inc.*	251		6,247
Denali Therapeutics, Inc.*	211		6,210
TriNet Group, Inc.*	80		6,210
R1 RCM, Inc.*	290		6,078
Brink's Co.	100		6,071
PTC Therapeutics, Inc.*	151		6,049
Sprouts Farmers Market, Inc.*	235		5,950
WD-40 Co.	29		5,839
CONMED Corp.	60		5,746
Axonics, Inc.*	101		5,724
Patterson Companies, Inc.	187		5,666
Coca-Cola Consolidated, Inc.	10		5,639
Pacira BioSciences, Inc.*	96		5,597
Neogen Corp.*	232		5,589
NuVasive, Inc.*	112		5,506
Select Medical Holdings Corp.	232		5,480
Lancaster Colony Corp.	42		5,409
Beam Therapeutics, Inc.*	136		5,265
Insmed, Inc.*	256		5,048
Integer Holdings Corp.*	71		5,017
Chegg, Inc.*	267		5,014
Owens & Minor, Inc.	158		4,969
Herc Holdings, Inc.	55		4,958
United Natural Foods, Inc.*	125		4,925
Alight, Inc. — Class A*	728		4,914
EVERTEC, Inc.	129		4,758
AbCellera Biologics, Inc.*	444		4,729
Covetrus, Inc.*	227		4,710

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Progyny, Inc.*	160	$	4,648
J & J Snack Foods Corp.	33		4,609
StoneCo Ltd. — Class A*	594		4,574
TreeHouse Foods, Inc.*	109		4,558
Graham Holdings Co. — Class B	8		4,535
Primo Water Corp.	338		4,523
Glaukos Corp.*	98		4,451
Multiplan Corp.*	810		4,447
Fate Therapeutics, Inc.*	178		4,411
John Wiley & Sons, Inc. — Class A	92		4,394
Arvinas, Inc.*	104		4,377
Corcept Therapeutics, Inc.*	183		4,352
Herbalife Nutrition Ltd.*	212		4,335
Medifast, Inc.	24		4,332
Global Blood Therapeutics, Inc.*	134		4,281
BioCryst Pharmaceuticals, Inc.*	398		4,211
CBIZ, Inc.*	105		4,196
Twist Bioscience Corp.*	120		4,195
Sabre Corp.*	699		4,075
AtriCure, Inc.*	98		4,004
Cal-Maine Foods, Inc.	81		4,002
Edgewell Personal Care Co.	115		3,970
Vir Biotechnology, Inc.*	155		3,948
MEDNAX, Inc.*	184		3,866
Hain Celestial Group, Inc.*	161		3,822
ICF International, Inc.	40		3,800
LiveRamp Holdings, Inc.*	144		3,717
ACADIA Pharmaceuticals, Inc.*	258		3,635
Sage Therapeutics, Inc.*	112		3,618
Iovance Biotherapeutics, Inc.*	323		3,566
Stride, Inc.*	87		3,549
Central Garden & Pet Co. — Class A*	87		3,481
B&G Foods, Inc.1	146		3,472
Strategic Education, Inc.	49		3,458
Adtalem Global Education, Inc.*	96		3,453
Coursera, Inc.*	242		3,432
Ironwood Pharmaceuticals, Inc. — Class A*	293		3,378
Xencor, Inc.*	123		3,367
Emergent BioSolutions, Inc.*	108		3,352
ChemoCentryx, Inc.*	135		3,345
Nevro Corp.*	75		3,287
Vector Group Ltd.	308		3,234
Dynavax Technologies Corp.*	254		3,198
elf Beauty, Inc.*	104		3,191
Travere Therapeutics, Inc.*	131		3,174
Beyond Meat, Inc.*,1	132		3,160
Universal Corp.	52		3,146
Embecta Corp.*	123		3,114
Cerevel Therapeutics Holdings, Inc.*	117		3,093
Myriad Genetics, Inc.*	170		3,089
Veracyte, Inc.*	154		3,065
US Physical Therapy, Inc.	28		3,058
Monro, Inc.	71		3,044
Supernus Pharmaceuticals, Inc.*	105		3,037
MGP Ingredients, Inc.	30		3,003
Krystal Biotech, Inc.*	45		2,955
Huron Consulting Group, Inc.*	45		2,925
Aurinia Pharmaceuticals, Inc.*	288		2,894
CoreCivic, Inc.*	259		2,877
Ligand Pharmaceuticals, Inc. — Class B*	32		2,855
Amphastar Pharmaceuticals, Inc.*	82		2,853
Chefs' Warehouse, Inc.*	73		2,839
Laureate Education, Inc. — Class A	243		2,812
Meridian Bioscience, Inc.*	92		2,799
CorVel Corp.*	19		2,798
AdaptHealth Corp.*	155		2,796
Arcus Biosciences, Inc.*	110		2,787
Inter Parfums, Inc.	38		2,776
Avanos Medical, Inc.*	101		2,761
Beauty Health Co.*	214		2,752
Addus HomeCare Corp.*	33		2,748
Relay Therapeutics, Inc.*	164		2,747
Textainer Group Holdings Ltd.	100		2,741
Harmony Biosciences Holdings, Inc.*	56		2,731
Kforce, Inc.	44		2,699
Silk Road Medical, Inc.*	74		2,693
Celldex Therapeutics, Inc.*	98		2,642
REVOLUTION Medicines, Inc.*	135		2,631
Cytek Biosciences, Inc.*	245		2,629
Green Dot Corp. — Class A*	104		2,611
Weis Markets, Inc.	35		2,609
Ingles Markets, Inc. — Class A	30		2,602
Agios Pharmaceuticals, Inc.*	117		2,594
Vericel Corp.*	101		2,543
ZipRecruiter, Inc. — Class A*	171		2,534
Fulgent Genetics, Inc.*	46		2,508
National Beverage Corp.	51		2,496
Kura Oncology, Inc.*	136		2,493
Vaxcyte, Inc.*	113		2,459
Surgery Partners, Inc.*	85		2,458
Natus Medical, Inc.*	74		2,425
Lyell Immunopharma, Inc.*,1	371		2,419
Repay Holdings Corp.*	188		2,416
IVERIC bio, Inc.*	251		2,415
Evo Payments, Inc. — Class A*	101		2,376
Axsome Therapeutics, Inc.*	62		2,375
Recursion Pharmaceuticals, Inc. — Class A*	290		2,361
CareDx, Inc.*	109		2,341
SpartanNash Co.	77		2,323
Legalzoom.com, Inc.*	210		2,308
Cassava Sciences, Inc.*,1	82		2,306
Zentalis Pharmaceuticals, Inc.*	82		2,304
ModivCare, Inc.*	27		2,282
Andersons, Inc.	69		2,276
Rent-A-Center, Inc.	114		2,217
OPKO Health, Inc.*	866		2,191
NeoGenomics, Inc.*	266		2,168
Pacific Biosciences of California, Inc.*	484		2,139
Syndax Pharmaceuticals, Inc.*	111		2,136
American Well Corp. — Class A*	492		2,125
REGENXBIO, Inc.*	86		2,124
Crinetics Pharmaceuticals, Inc.*	113		2,107
Krispy Kreme, Inc.	154		2,094
Revance Therapeutics, Inc.*	150		2,073
ImmunoGen, Inc.*	460		2,070
Prothena Corporation plc*	76		2,063
MannKind Corp.*	534		2,035

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Bridgebio Pharma, Inc.*	224	$	2,034
Deluxe Corp.	93		2,015
MoneyGram International, Inc.*	201		2,010
Innoviva, Inc.*	136		2,007
Avid Bioservices, Inc.*	131		1,999
Enanta Pharmaceuticals, Inc.*	42		1,985
Heska Corp.*	21		1,985
FibroGen, Inc.*	187		1,975
Cerus Corp.*	370		1,957
Allogene Therapeutics, Inc.*	171		1,949
Utz Brands, Inc.	141		1,949
Adaptive Biotechnologies Corp.*	239		1,934
Madrigal Pharmaceuticals, Inc.*	27		1,933
Fresh Del Monte Produce, Inc.	65		1,920
PROG Holdings, Inc.*	116		1,914
LeMaitre Vascular, Inc.	42		1,913
National Healthcare Corp.	27		1,887
Atrion Corp.	3		1,887
TransMedics Group, Inc.*	58		1,824
SpringWorks Therapeutics, Inc.*	74		1,822
Payoneer Global, Inc.*	464		1,819
RadNet, Inc.*	105		1,814
Brookdale Senior Living, Inc. — Class A*	399		1,811
PROCEPT BioRobotics Corp.*,1	55		1,798
Reata Pharmaceuticals, Inc. — Class A*	59		1,793
Aclaris Therapeutics, Inc.*	128		1,787
Prometheus Biosciences, Inc.*	63		1,778
Varex Imaging Corp.*	83		1,775
Editas Medicine, Inc.*	148		1,751
Clover Health Investments Corp.*	818		1,751
USANA Health Sciences, Inc.*	24		1,737
Perdoceo Education Corp.*	146		1,720
2U, Inc.*	160		1,675
Duckhorn Portfolio, Inc.*	79		1,664
Chinook Therapeutics, Inc.*	94		1,644
Sorrento Therapeutics, Inc.*	815		1,638
SunOpta, Inc.*	209		1,626
Cross Country Healthcare, Inc.*	78		1,625
Quanex Building Products Corp.	71		1,615
Arcutis Biotherapeutics, Inc.*	75		1,598
First Advantage Corp.*	126		1,596
Kymera Therapeutics, Inc.*	81		1,595
Udemy, Inc.*	155		1,583
Paragon 28, Inc.*	99		1,571
Veru, Inc.*	139		1,571
Artivion, Inc.*	83		1,567
AngioDynamics, Inc.*	80		1,548
Calavo Growers, Inc.	37		1,544
SP Plus Corp.*	50		1,536
Atara Biotherapeutics, Inc.*	197		1,535
Avidity Biosciences, Inc.*	105		1,526
Cano Health, Inc.*	347		1,520
Kelly Services, Inc. — Class A	75		1,487
Nektar Therapeutics*	389		1,478
Cimpress plc*	38		1,478
Anavex Life Sciences Corp.*	146		1,461
SomaLogic, Inc.*	321		1,451
Catalyst Pharmaceuticals, Inc.*	205		1,437
Paysafe Ltd.*	725		1,414
Resources Connection, Inc.	68		1,385
Remitly Global, Inc.*	180		1,379
John B Sanfilippo & Son, Inc.	19		1,377
EQRx, Inc.*	293		1,374
Heidrick & Struggles International, Inc.	42		1,359
Alector, Inc.*	133		1,351
Cutera, Inc.*	36		1,350
CRA International, Inc.	15		1,340
OrthoPediatrics Corp.*	31		1,338
ACCO Brands Corp.	203		1,326
Vanda Pharmaceuticals, Inc.*	119		1,297
Collegium Pharmaceutical, Inc.*	73		1,294
Rocket Pharmaceuticals, Inc.*	94		1,293
Deciphera Pharmaceuticals, Inc.*	97		1,276
NanoString Technologies, Inc.*	100		1,270
TrueBlue, Inc.*	70		1,253
Theravance Biopharma, Inc.*	138		1,250
Franklin Covey Co.*	27		1,247
DocGo, Inc.*	173		1,235
Paya Holdings, Inc.*	188		1,235
Sana Biotechnology, Inc.*	191		1,228
Mission Produce, Inc.*	86		1,226
Cardiovascular Systems, Inc.*	85		1,221
TG Therapeutics, Inc.*	286		1,216
Viad Corp.*	44		1,215
Agiliti, Inc.*	59		1,210
Verve Therapeutics, Inc.*	79		1,207
Invitae Corp.*,1	494		1,205
Nurix Therapeutics, Inc.*	95		1,204
Y-mAbs Therapeutics, Inc.*	79		1,195
Morphic Holding, Inc.*	55		1,194
Geron Corp.*	770		1,194
CTI BioPharma Corp.*	199		1,188
National Research Corp. — Class A	31		1,187
Inogen, Inc.*	49		1,185
Quanterix Corp.*	73		1,182
I3 Verticals, Inc. — Class A*	47		1,176
SIGA Technologies, Inc.	101		1,170
Tootsie Roll Industries, Inc.	33		1,167
Atea Pharmaceuticals, Inc.*	164		1,164
Hanger, Inc.*	81		1,160
Marathon Digital Holdings, Inc.*,1	217		1,159
Carriage Services, Inc. — Class A	29		1,150
Forrester Research, Inc.*	24		1,148
Coherus Biosciences, Inc.*	158		1,144
Arlo Technologies, Inc.*	182		1,141
BrightView Holdings, Inc.*	95		1,140
Replimune Group, Inc.*	65		1,136
Gossamer Bio, Inc.*	135		1,130
PMV Pharmaceuticals, Inc.*	79		1,126
Agenus, Inc.*	579		1,123
Relmada Therapeutics, Inc.*	59		1,120
Castle Biosciences, Inc.*	51		1,119
Hackett Group, Inc.	58		1,100
Barrett Business Services, Inc.	15		1,093
Ennis, Inc.	54		1,092
Point Biopharma Global, Inc.*	159		1,083
Surmodics, Inc.*	29		1,080
NGM Biopharmaceuticals, Inc.*	84		1,077
Oscar Health, Inc. — Class A*	253		1,075
Pulmonx Corp.*	73		1,075
Sangamo Therapeutics, Inc.*	257		1,064

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
2seventy bio, Inc.*	80	$	1,056
Riot Blockchain, Inc.*,1	251		1,052
Ideaya Biosciences, Inc.*	76		1,049
Ocugen, Inc.*,1	459		1,042
Radius Health, Inc.*	100		1,037
Treace Medical Concepts, Inc.*	72		1,032
iTeos Therapeutics, Inc.*	50		1,030
Design Therapeutics, Inc.*	73		1,022
RAPT Therapeutics, Inc.*	56		1,022
Nano-X Imaging Ltd.*	90		1,017
Senseonics Holdings, Inc.*,1	982		1,011
Benson Hill, Inc.*	367		1,006
Community Health Systems, Inc.*	268		1,005
Keros Therapeutics, Inc.*	36		995
BioLife Solutions, Inc.*	72		994
Seer, Inc.*	111		993
PetIQ, Inc.*	59		991
Orthofix Medical, Inc.*	42		989
Alphatec Holdings, Inc.*	151		988
Cass Information Systems, Inc.	29		980
Eagle Pharmaceuticals, Inc.*	22		977
SI-BONE, Inc.*	72		950
DICE Therapeutics, Inc.*	61		947
Aaron's Company, Inc.	65		946
Vaxart, Inc.*,1	265		928
Accolade, Inc.*	125		925
23andMe Holding Co. — Class A*	369		915
Turning Point Brands, Inc.	33		895
Day One Biopharmaceuticals, Inc.*	50		895
Central Garden & Pet Co.*	21		891
Adicet Bio, Inc.*	61		891
MaxCyte, Inc.*	187		885
Evolus, Inc.*	76		882
Cara Therapeutics, Inc.*	96		877
Butterfly Network, Inc.*	285		875
AnaptysBio, Inc.*	43		873
Mersana Therapeutics, Inc.*	188		869
Cogent Biosciences, Inc.*	96		866
Bionano Genomics, Inc.*	626		864
Nkarta, Inc.*	70		862
LifeStance Health Group, Inc.*	155		862
Esperion Therapeutics, Inc.*	135		859
Transcat, Inc.*	15		852
Affimed N.V.*	305		845
Phibro Animal Health Corp. — Class A	44		842
ViewRay, Inc.*	317		840
MiMedx Group, Inc.*	242		840
Vectrus, Inc.*	25		837
Sterling Check Corp.*	51		832
Kezar Life Sciences, Inc.*	100		827
Cullinan Oncology, Inc.*	64		820
Inovio Pharmaceuticals, Inc.*	471		815
Nuvation Bio, Inc.*	250		810
ANI Pharmaceuticals, Inc.*	27		801
Kinnate Biopharma, Inc.*	63		794
European Wax Center, Inc. — Class A	45		793
ADMA Biologics, Inc.*	398		788
Arcturus Therapeutics Holdings, Inc.*	50		787
Protagonist Therapeutics, Inc.*	99		783
Erasca, Inc.*	139		774
Bright Health Group, Inc.*	414		754
Aerie Pharmaceuticals, Inc.*	100		750
Imago Biosciences, Inc.*	56		750
WW International, Inc.*	116		741
Cue Health, Inc.*	231		739
22nd Century Group, Inc.*	347		739
Karyopharm Therapeutics, Inc.*	163		735
Albireo Pharma, Inc.*	37		735
Organogenesis Holdings, Inc.*	150		732
Seneca Foods Corp. — Class A*	13		722
Zimvie, Inc.*	45		720
Intercept Pharmaceuticals, Inc.*	52		718
Pennant Group, Inc.*	56		717
Custom Truck One Source, Inc.*	128		717
Inhibrx, Inc.*	63		715
Axogen, Inc.*	87		713
Vivint Smart Home, Inc.*	204		710
Amneal Pharmaceuticals, Inc.*	221		703
Core Scientific, Inc.*	469		699
Tejon Ranch Co.*	45		698
Anika Therapeutics, Inc.*	31		692
Willdan Group, Inc.*	25		690
Instil Bio, Inc.*	149		688
Tricida, Inc.*	71		687
C4 Therapeutics, Inc.*	90		679
Ocular Therapeutix, Inc.*	165		663
Mirum Pharmaceuticals, Inc.*	34		662
Tattooed Chef, Inc.*	105		662
Generation Bio Co.*	100		656
ImmunityBio, Inc.*,1	175		651
Kiniksa Pharmaceuticals Ltd. — Class A*	67		649
American Public Education, Inc.*	40		646
Viridian Therapeutics, Inc.*	55		636
Stoke Therapeutics, Inc.*	48		634
Bluebird Bio, Inc.*	153		633
Caribou Biosciences, Inc.*	116		630
Arbutus Biopharma Corp.*,1	232		629
RxSight, Inc.*	44		620
Heron Therapeutics, Inc.*	221		617
Utah Medical Products, Inc.	7		601
Berkeley Lights, Inc.*	120		596
Monte Rosa Therapeutics, Inc.*	61		590
Vita Coco Company, Inc.*	60		587
Ventyx Biosciences, Inc.*	48		587
Foghorn Therapeutics, Inc.*	43		585
Tarsus Pharmaceuticals, Inc.*	39		569
Akero Therapeutics, Inc.*	60		567
Distribution Solutions Group, Inc.*	11		565
Vital Farms, Inc.*	64		560
Landec Corp.*	56		558
Eiger BioPharmaceuticals, Inc.*	88		554
Aura Biosciences, Inc.*	39		553
CinCor Pharma, Inc.*	29		546
Kodiak Sciences, Inc.*	71		542
Vintage Wine Estates, Inc.*	69		542
Bioxcel Therapeutics, Inc.*	41		541
Whole Earth Brands, Inc.*	87		539
Forma Therapeutics Holdings, Inc.*	78		537

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
AppHarvest, Inc.*	153	$	534
Seres Therapeutics, Inc.*	151		518
Information Services Group, Inc.	76		514
KalVista Pharmaceuticals, Inc.*	52		512
ShotSpotter, Inc.*	19		511
Edgewise Therapeutics, Inc.*	64		509
iRadimed Corp.	15		509
MeiraGTx Holdings plc*	65		492
Universal Technical Institute, Inc.*	69		492
Sutro Biopharma, Inc.*	94		490
Nuvalent, Inc. — Class A*	36		488
Amylyx Pharmaceuticals, Inc.*	25		481
Provention Bio, Inc.*	120		480
Dyne Therapeutics, Inc.*	68		467
CareMax, Inc.*	128		465
Bioventus, Inc. — Class A*	68		464
Alico, Inc.	13		463
Joint Corp.*	30		459
Singular Genomics Systems, Inc.*	120		458
Quantum-Si, Inc.*	196		455
Tango Therapeutics, Inc.*	100		453
Janux Therapeutics, Inc.*	37		452
BRC, Inc. — Class A*	55		449
4D Molecular Therapeutics, Inc.*	64		447
Liquidia Corp.*	102		445
EyePoint Pharmaceuticals, Inc.*	56		441
Xeris Biopharma Holdings, Inc.*	284		437
Akoya Biosciences, Inc.*	34		437
SeaSpine Holdings Corp.*	76		429
Sema4 Holdings Corp.*	339		427
OraSure Technologies, Inc.*	157		425
Rigel Pharmaceuticals, Inc.*	370		418
Phathom Pharmaceuticals, Inc.*	49		414
PFSweb, Inc.*	35		412
Village Super Market, Inc. — Class A	18		411
Moneylion, Inc.*	310		409
Vera Therapeutics, Inc.*	30		408
HF Foods Group, Inc.*	78		407
Honest Company, Inc.*	139		406
Alta Equipment Group, Inc.*	45		404
Zynex, Inc.	48		383
Aadi Bioscience, Inc.*	31		382
MacroGenics, Inc.*	129		381
Arcellx, Inc.*	21		380
IGM Biosciences, Inc.*	21		379
Chimerix, Inc.*	181		376
Absci Corp.*	113		375
ALX Oncology Holdings, Inc.*	46		372
VistaGen Therapeutics, Inc.*	417		367
Century Therapeutics, Inc.*	43		361
Adagio Therapeutics, Inc.*,1	110		361
Fulcrum Therapeutics, Inc.*	73		358
Inotiv, Inc.*	37		355
Vicarious Surgical, Inc.*,1	117		344
Tenaya Therapeutics, Inc.*	60		338
Immunovant, Inc.*	86		335
VBI Vaccines, Inc.*	413		334
Natural Grocers by Vitamin Cottage, Inc.	20		319
Kronos Bio, Inc.*	87		317
Aerovate Therapeutics, Inc.*	20		313
Spire Global, Inc.*	268		311
Nature's Sunshine Products, Inc.*	29		309
Rent the Runway, Inc. — Class A*,1	100		307
Tactile Systems Technology, Inc.*	42		307
HilleVax, Inc.*	28		306
Lexicon Pharmaceuticals, Inc.*	156		290
Precigen, Inc.*	216		289
Alpine Immune Sciences, Inc.*	33		281
Icosavax, Inc.*	48		275
Nautilus Biotechnology, Inc.*	102		274
Jounce Therapeutics, Inc.*	90		273
Beachbody Company, Inc.*	224		269
Science 37 Holdings, Inc.*	133		267
Allovir, Inc.*	67		261
Outlook Therapeutics, Inc.*	254		259
Rallybio Corp.*	34		257
Bakkt Holdings, Inc.*	122		256
Endo International plc*	502		234
Babylon Holdings Ltd. — Class A*	233		228
ATI Physical Therapy, Inc.*	160		226
Athira Pharma, Inc.*	73		223
Talaris Therapeutics, Inc.*	48		216
Aveanna Healthcare Holdings, Inc.*	95		215
Quad/Graphics, Inc.*	75		206
P3 Health Partners, Inc.*	55		205
Oncology Institute, Inc.*	40		202
StoneMor, Inc.*	59		202
Tyra Biosciences, Inc.*	28		200
Theseus Pharmaceuticals, Inc.*	36		199
Praxis Precision Medicines, Inc.*	81		198
Pardes Biosciences, Inc.*	61		187
Innovage Holding Corp.*	41		180
PepGen, Inc.*	18		179
Bird Global, Inc. — Class A*	368		160
AirSculpt Technologies, Inc.*	27		160
Thorne HealthTech, Inc.*	29		140
MarketWise, Inc.*	36		130
Local Bounti Corp.*	40		127
Priority Technology Holdings, Inc.*	38		125
Humacyte, Inc.*	38		122
Cipher Mining, Inc.*	84		115
Celularity, Inc.*	33		112
Alpha Teknova, Inc.*	13		109
Redbox Entertainment, Inc.*	14		104
CompoSecure, Inc.*	17		88
Enochian Biosciences, Inc.*	42		81
AN2 Therapeutics, Inc.*	10		78
Greenidge Generation Holdings, Inc.*	27		69
GreenLight Biosciences Holdings PBC*	30		66
Owlet, Inc.*	35		59
Wejo Group Ltd.*	49		58
Boxed, Inc.*	25		46
Leafly Holdings, Inc.*	9		40
Gelesis Holdings, Inc.*	21		33

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Tenon Medical, Inc.*	7	$	16
Total Consumer, Non-cyclical			1,174,292
Industrial - 8.9%
Chart Industries, Inc.*	79		13,223
RBC Bearings, Inc.*	61		11,282
EMCOR Group, Inc.	109		11,223
Saia, Inc.*	57		10,716
Exponent, Inc.	111		10,153
Simpson Manufacturing Company, Inc.	93		9,357
Novanta, Inc.*	76		9,217
UFP Industries, Inc.	131		8,926
Evoqua Water Technologies Corp.*	252		8,192
Applied Industrial Technologies, Inc.	82		7,886
Casella Waste Systems, Inc. — Class A*	107		7,777
Atkore International Group, Inc.*	92		7,637
John Bean Technologies Corp.	68		7,509
Fluor Corp.*	305		7,424
Franklin Electric Company, Inc.	99		7,253
Watts Water Technologies, Inc. — Class A	59		7,247
Zurn Water Solutions Corp.	266		7,246
GATX Corp.	76		7,156
Aerojet Rocketdyne Holdings, Inc.*	170		6,902
Welbilt, Inc.*	282		6,714
Fabrinet*	79		6,407
Mueller Industries, Inc.	120		6,395
Hillenbrand, Inc.	156		6,390
Comfort Systems USA, Inc.	76		6,319
Matson, Inc.	86		6,268
Summit Materials, Inc. — Class A*	254		5,916
Advanced Energy Industries, Inc.	81		5,911
Dycom Industries, Inc.*	62		5,769
Bloom Energy Corp. — Class A*	349		5,758
Albany International Corp. — Class A	68		5,358
Werner Enterprises, Inc.	139		5,357
Forward Air Corp.	58		5,334
Sanmina Corp.*	129		5,254
EnerSys	89		5,247
AAON, Inc.	94		5,147
Hub Group, Inc. — Class A*	72		5,108
Badger Meter, Inc.	63		5,096
Cactus, Inc. — Class A	126		5,074
Vishay Intertechnology, Inc.	284		5,061
Boise Cascade Co.	85		5,057
SPX Corp.*	95		5,020
Belden, Inc.	94		5,007
Golar LNG Ltd.*	216		4,914
Altra Industrial Motion Corp.	139		4,900
Moog, Inc. — Class A	61		4,843
Arcosa, Inc.	104		4,829
Itron, Inc.*	97		4,795
Brady Corp. — Class A	101		4,771
O-I Glass, Inc.*	334		4,676
Helios Technologies, Inc.	70		4,638
Plexus Corp.*	59		4,632
Kadant, Inc.	25		4,559
Federal Signal Corp.	128		4,557
Trinity Industries, Inc.	179		4,335
Frontdoor, Inc.*	177		4,262
Encore Wire Corp.	41		4,261
Kennametal, Inc.	177		4,112
AeroVironment, Inc.*	50		4,110
Energizer Holdings, Inc.	143		4,054
Terex Corp.	146		3,996
Mueller Water Products, Inc. — Class A	334		3,918
ESCO Technologies, Inc.	55		3,760
Atlas Air Worldwide Holdings, Inc.*	60		3,703
Masonite International Corp.*	48		3,688
EnPro Industries, Inc.	45		3,687
Kratos Defense & Security Solutions, Inc.*	265		3,678
ArcBest Corp.	52		3,659
Scorpio Tankers, Inc.	106		3,658
Air Transport Services Group, Inc.*	127		3,649
Greif, Inc. — Class A	55		3,431
NV5 Global, Inc.*	29		3,385
Cornerstone Building Brands, Inc.*	136		3,331
Knowles Corp.*	192		3,327
CSW Industrials, Inc.	32		3,297
Barnes Group, Inc.	105		3,270
Materion Corp.	44		3,244
Lindsay Corp.	24		3,188
MYR Group, Inc.*	36		3,173
Golden Ocean Group Ltd.	263		3,061
AAR Corp.*	73		3,054
Worthington Industries, Inc.	68		2,999
OSI Systems, Inc.*	35		2,990
GrafTech International Ltd.	421		2,976
CryoPort, Inc.*	95		2,943
Granite Construction, Inc.	98		2,856
Proto Labs, Inc.*	59		2,823
Griffon Corp.	99		2,775
Gibraltar Industries, Inc.*	71		2,751
TTM Technologies, Inc.*	217		2,713
JELD-WEN Holding, Inc.*	185		2,699
Joby Aviation, Inc.*	538		2,642
Vicor Corp.*	47		2,572
Alamo Group, Inc.	22		2,561
TriMas Corp.	91		2,520
Hillman Solutions Corp.*	289		2,497
Enerpac Tool Group Corp.	131		2,492
Primoris Services Corp.	114		2,481
Greenbrier Companies, Inc.	68		2,447
Xometry, Inc. — Class A*	72		2,443
Tennant Co.	40		2,370
Frontline Ltd.*	267		2,366
Sturm Ruger & Company, Inc.	37		2,355
SFL Corporation Ltd.	246		2,335
Energy Recovery, Inc.*	120		2,330
CTS Corp.	68		2,316
International Seaways, Inc.	106		2,247
Mesa Laboratories, Inc.	11		2,243
Standex International Corp.	26		2,204
AZZ, Inc.	53		2,163
Marten Transport Ltd.	126		2,119

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
PGT Innovations, Inc.*	126	$	2,097
Enovix Corp.*	233		2,076
Astec Industries, Inc.	49		1,998
Montrose Environmental Group, Inc.*	59		1,992
Li-Cycle Holdings Corp.*	284		1,954
Matthews International Corp. — Class A	66		1,892
Apogee Enterprises, Inc.	48		1,882
Kaman Corp.	60		1,875
TimkenSteel Corp.*	99		1,852
DHT Holdings, Inc.	301		1,845
Great Lakes Dredge & Dock Corp.*	140		1,835
Triumph Group, Inc.*	137		1,821
Construction Partners, Inc. — Class A*	86		1,801
Myers Industries, Inc.	78		1,773
Rocket Lab USA, Inc.*	457		1,732
Columbus McKinnon Corp.	60		1,702
Mirion Technologies, Inc.*	294		1,694
Benchmark Electronics, Inc.	75		1,692
PureCycle Technologies, Inc.*	228		1,692
FLEX LNG Ltd.	61		1,671
Janus International Group, Inc.*	175		1,580
American Woodmark Corp.*	35		1,575
Ichor Holdings Ltd.*	60		1,559
GoPro, Inc. — Class A*	280		1,548
Genco Shipping & Trading Ltd.	79		1,526
Eagle Bulk Shipping, Inc.	29		1,504
Costamare, Inc.	115		1,391
Heartland Express, Inc.	100		1,391
Gorman-Rupp Co.	49		1,387
Sterling Infrastructure, Inc.*	63		1,381
MicroVision, Inc.*	355		1,363
Insteel Industries, Inc.	40		1,347
Blink Charging Co.*,1	79		1,306
Napco Security Technologies, Inc.*	63		1,297
Smith & Wesson Brands, Inc.	97		1,274
Chase Corp.	16		1,245
FARO Technologies, Inc.*	39		1,202
Harsco Corp.*	168		1,194
UFP Technologies, Inc.*	15		1,194
SmartRent, Inc.*	255		1,153
Modine Manufacturing Co.*	107		1,127
Argan, Inc.	30		1,120
Charge Enterprises, Inc.*	232		1,107
Ducommun, Inc.*	24		1,033
Kimball Electronics, Inc.*	51		1,025
DXP Enterprises, Inc.*	33		1,011
Dorian LPG Ltd.	66		1,003
Thermon Group Holdings, Inc.*	71		997
908 Devices, Inc.*	47		968
nLight, Inc.*	94		961
Stoneridge, Inc.*	56		960
LSB Industries, Inc.*	68		942
Pactiv Evergreen, Inc.	93		926
Heritage-Crystal Clean, Inc.*	34		917
Luxfer Holdings plc	60		907
Nordic American Tankers Ltd.	408		869
Teekay Tankers Ltd. — Class A*	49		864
Haynes International, Inc.	26		852
Archer Aviation, Inc. — Class A*	267		822
Tutor Perini Corp.*	90		790
Vishay Precision Group, Inc.*	27		787
Manitowoc Company, Inc.*	74		779
Babcock & Wilcox Enterprises, Inc.*	128		772
Ryerson Holding Corp.	36		766
Omega Flex, Inc.	7		753
Greif, Inc. — Class B	12		747
Hyster-Yale Materials Handling, Inc.	23		741
National Presto Industries, Inc.	11		722
AMMO, Inc.*,1	187		720
Cadre Holdings, Inc.	35		688
CIRCOR International, Inc.*	40		656
Latham Group, Inc.*	94		651
Ranpak Holdings Corp.*	93		651
Allied Motion Technologies, Inc.	28		640
Northwest Pipe Co.*	21		629
Covenant Logistics Group, Inc. — Class A	24		602
Radiant Logistics, Inc.*	81		601
Safe Bulkers, Inc.	157		600
Tredegar Corp.	58		580
IES Holdings, Inc.*	19		573
Eastman Kodak Co.*	123		571
Centrus Energy Corp. — Class A*	23		569
Daseke, Inc.*	87		556
Astronics Corp.*	54		549
Identiv, Inc.*	47		544
Olympic Steel, Inc.	21		541
Park Aerospace Corp.	42		536
CyberOptics Corp.*	15		524
Ardmore Shipping Corp.*	75		523
Comtech Telecommunications Corp.	55		499
AerSale Corp.*	34		493
ESS Tech, Inc.*	173		486
Evolv Technologies Holdings, Inc.*	180		479
Powell Industries, Inc.	20		467
Caesarstone Ltd.	49		447
Pure Cycle Corp.*	42		443
Universal Logistics Holdings, Inc.	16		437
Sarcos Technology and Robotics Corp.*	163		433
Teekay Corp.*	150		432
Sight Sciences, Inc.*	46		413
Akoustis Technologies, Inc.*	111		411
Turtle Beach Corp.*	33		404
Astra Space, Inc.*,1	308		400
View, Inc.*	240		389
PAM Transportation Services, Inc.*	14		383
NuScale Power Corp.*	37		370
Volta, Inc.*	262		341
Concrete Pumping Holdings, Inc.*	56		339
Hydrofarm Holdings Group, Inc.*	94		327
Momentus, Inc.*	117		253
Karat Packaging, Inc.*	12		205
Atlas Technical Consultants, Inc.*	38		200
NL Industries, Inc.	18		178

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Transphorm, Inc.*	46	$	175
Berkshire Grey, Inc.*	105		152
Redwire Corp.*,1	41		125
AEye, Inc.*	57		109
Fathom Digital Manufacturing C*	22		85
Total Industrial			633,866
Consumer, Cyclical - 7.6%
Murphy USA, Inc.	48		11,178
Texas Roadhouse, Inc. — Class A	147		10,760
Light & Wonder, Inc. — Class A*	210		9,868
Asbury Automotive Group, Inc.*	47		7,959
Avient Corp.	195		7,816
Fox Factory Holding Corp.*	91		7,329
Hilton Grand Vacations, Inc.*	192		6,860
Goodyear Tire & Rubber Co.*	602		6,447
Academy Sports & Outdoors, Inc.	180		6,397
Crocs, Inc.*	130		6,327
Dorman Products, Inc.*	57		6,253
Visteon Corp.*	60		6,215
Callaway Golf Co.*	300		6,120
Adient plc*	204		6,045
Resideo Technologies, Inc.*	310		6,020
Beacon Roofing Supply, Inc.*	116		5,958
Papa John's International, Inc.	71		5,930
LCI Industries	53		5,930
Taylor Morrison Home Corp. — Class A*	248		5,793
Group 1 Automotive, Inc.	34		5,773
FirstCash Holdings, Inc.	83		5,769
Meritage Homes Corp.*	78		5,655
Spirit Airlines, Inc.*	234		5,578
UniFirst Corp.	32		5,510
Meritor, Inc.*	151		5,486
Steven Madden Ltd.	169		5,443
Skyline Champion Corp.*	114		5,406
Signet Jewelers Ltd.	100		5,346
Sonos, Inc.*	274		4,943
KB Home	172		4,895
Wingstop, Inc.	64		4,785
National Vision Holdings, Inc.*	174		4,785
Nu Skin Enterprises, Inc. — Class A	107		4,633
Foot Locker, Inc.	178		4,495
Gentherm, Inc.*	71		4,431
Rush Enterprises, Inc. — Class A	91		4,386
Boot Barn Holdings, Inc.*	63		4,341
Installed Building Products, Inc.	52		4,324
SeaWorld Entertainment, Inc.*	97		4,286
MillerKnoll, Inc.	163		4,282
Cracker Barrel Old Country Store, Inc.	50		4,174
GMS, Inc.*	93		4,139
Kontoor Brands, Inc.	121		4,038
MDC Holdings, Inc.	123		3,974
International Game Technology plc	214		3,972
Cavco Industries, Inc.*	20		3,920
LGI Homes, Inc.*	45		3,910
Dana, Inc.	277		3,897
KAR Auction Services, Inc.*	259		3,825
Red Rock Resorts, Inc. — Class A	114		3,803
PriceSmart, Inc.	53		3,796
Allegiant Travel Co. — Class A*	33		3,732
Tri Pointe Homes, Inc.*	220		3,711
American Eagle Outfitters, Inc.1	331		3,701
Cinemark Holdings, Inc.*	234		3,515
Wolverine World Wide, Inc.	172		3,468
Veritiv Corp.*	31		3,365
Winnebago Industries, Inc.	69		3,351
Vista Outdoor, Inc.*	120		3,348
Shake Shack, Inc. — Class A*	80		3,158
HNI Corp.	91		3,157
Bloomin' Brands, Inc.	189		3,141
Everi Holdings, Inc.*	188		3,066
Acushnet Holdings Corp.	73		3,043
Tenneco, Inc. — Class A*	177		3,037
Luminar Technologies, Inc.*	512		3,036
Dave & Buster's Entertainment, Inc.*	92		3,016
Fisker, Inc.*,1	349		2,991
Nikola Corp.*,1	626		2,980
Virgin Galactic Holdings, Inc.*,1	489		2,944
Oxford Industries, Inc.	33		2,928
Madison Square Garden Entertainment Corp.*	55		2,894
Methode Electronics, Inc.	78		2,889
Century Communities, Inc.	63		2,833
Cheesecake Factory, Inc.	107		2,827
ODP Corp.*	92		2,782
Healthcare Services Group, Inc.	159		2,768
World Fuel Services Corp.	134		2,742
Sally Beauty Holdings, Inc.*	230		2,742
Urban Outfitters, Inc.*	141		2,631
Jack in the Box, Inc.	45		2,523
Patrick Industries, Inc.	47		2,436
M/I Homes, Inc.*	59		2,340
Malibu Boats, Inc. — Class A*	44		2,319
SkyWest, Inc.*	107		2,274
Dine Brands Global, Inc.	34		2,213
Lions Gate Entertainment Corp. — Class B*	250		2,208
Proterra, Inc.*,1	474		2,199
La-Z-Boy, Inc.	92		2,181
TuSimple Holdings, Inc. — Class A*	300		2,169
Qurate Retail, Inc. — Class A	751		2,155
iRobot Corp.*	58		2,131
XPEL, Inc.*	46		2,113
Franchise Group, Inc.	59		2,069
Brinker International, Inc.*	93		2,049
Caleres, Inc.	78		2,047
Warby Parker, Inc. — Class A*	179		2,016
Dillard's, Inc. — Class A	9		1,985
Steelcase, Inc. — Class A	185		1,985
Standard Motor Products, Inc.	44		1,980
H&E Equipment Services, Inc.	68		1,970
Liberty Media Corporation-Liberty Braves — Class C*	81		1,944
G-III Apparel Group Ltd.*	94		1,902
American Axle & Manufacturing Holdings, Inc.*	242		1,822
Buckle, Inc.	65		1,800

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Abercrombie & Fitch Co. — Class A*	106	$	1,794
Camping World Holdings, Inc. — Class A1	83		1,792
IMAX Corp.*	105		1,773
Golden Entertainment, Inc.*	44		1,740
ScanSource, Inc.*	55		1,713
Monarch Casino & Resort, Inc.*	29		1,701
Bally's Corp.*	85		1,681
Titan International, Inc.*	110		1,661
Clean Energy Fuels Corp.*	363		1,626
MarineMax, Inc.*	45		1,625
Designer Brands, Inc. — Class A	124		1,619
Interface, Inc. — Class A	126		1,580
Sonic Automotive, Inc. — Class A	43		1,575
Hawaiian Holdings, Inc.*	109		1,560
Funko, Inc. — Class A*	68		1,518
Arko Corp.	182		1,485
Sleep Number Corp.*	46		1,424
Wabash National Corp.	104		1,412
Genesco, Inc.*	28		1,397
Douglas Dynamics, Inc.	48		1,380
Shyft Group, Inc.	74		1,376
Accel Entertainment, Inc.*	126		1,338
BlueLinx Holdings, Inc.*	20		1,336
America's Car-Mart, Inc.*	13		1,308
Chico's FAS, Inc.*	263		1,307
Sun Country Airlines Holdings, Inc.*	71		1,302
Big Lots, Inc.	60		1,258
A-Mark Precious Metals, Inc.	39		1,258
Guess?, Inc.	73		1,245
Hibbett, Inc.	28		1,224
indie Semiconductor, Inc. — Class A*	214		1,220
Green Brick Partners, Inc.*	61		1,194
Clarus Corp.	62		1,177
Winmark Corp.	6		1,173
Lions Gate Entertainment Corp. — Class A*	125		1,164
Life Time Group Holdings, Inc.*	90		1,159
Holley, Inc.*	110		1,155
Ruth's Hospitality Group, Inc.	70		1,138
Denny's Corp.*	129		1,120
Children's Place, Inc.*	28		1,090
Ermenegildo Zegna Holditalia SpA	101		1,066
BJ's Restaurants, Inc.*	49		1,062
PC Connection, Inc.	24		1,057
Movado Group, Inc.	34		1,052
OneSpaWorld Holdings Ltd.*	142		1,018
Ethan Allen Interiors, Inc.	49		990
Vizio Holding Corp. — Class A*	145		989
Sovos Brands, Inc.*	61		968
Titan Machinery, Inc.*	43		964
Global Industrial Co.	28		945
TravelCenters of America, Inc.*	27		931
RCI Hospitality Holdings, Inc.	19		919
Hyliion Holdings Corp.*,1	285		918
Sportsman's Warehouse Holdings, Inc.*	93		892
Zumiez, Inc.*	34		884
Bowlero Corp.*	83		879
EVgo, Inc.*	146		877
VSE Corp.	23		864
PetMed Express, Inc.	43		856
Bed Bath & Beyond, Inc.*,1	171		850
Lovesac Co.*	30		825
Shoe Carnival, Inc.	38		821
MasterCraft Boat Holdings, Inc.*	39		821
Workhorse Group, Inc.*	314		816
REV Group, Inc.	75		815
Microvast Holdings, Inc.*	366		813
Chuy's Holdings, Inc.*	40		797
OneWater Marine, Inc. — Class A*	24		793
Rite Aid Corp.*	117		789
Beazer Homes USA, Inc.*	64		772
Marcus Corp.*	51		753
Frontier Group Holdings, Inc.*,1	80		750
Rush Enterprises, Inc. — Class B	15		744
Haverty Furniture Companies, Inc.	32		742
Portillo's, Inc. — Class A*	43		703
Hudson Technologies, Inc.*	92		691
Bluegreen Vacations Holding Corp.	27		674
Johnson Outdoors, Inc. — Class A	11		673
Wheels Up Experience, Inc.*	341		665
Universal Electronics, Inc.*	26		665
Solid Power, Inc.*	122		656
Aeva Technologies, Inc.*	208		651
Tupperware Brands Corp.*	98		621
Rush Street Interactive, Inc.*	130		607
Kimball International, Inc. — Class B	78		598
Cenntro Electric Group Ltd.*	395		596
LL Flooring Holdings, Inc.*	63		590
Aspen Aerogels, Inc.*,1	59		583
Lindblad Expeditions Holdings, Inc.*	69		559
Hyzon Motors, Inc.*,1	188		553
Miller Industries, Inc.	24		544
Vinco Ventures, Inc.*	394		543
Lordstown Motors Corp. — Class A*	342		540
Forestar Group, Inc.*	39		534
Liberty Media Corporation-Liberty Braves — Class A*	21		528
Motorcar Parts of America, Inc.*	40		525
Fossil Group, Inc.*	100		517
Big 5 Sporting Goods Corp.	46		516
Rocky Brands, Inc.	15		513
Kura Sushi USA, Inc. — Class A*	10		495
Build-A-Bear Workshop, Inc. — Class A	30		493
Dream Finders Homes, Inc. — Class A*	45		479
Hovnanian Enterprises, Inc. — Class A*	11		471
Canoo, Inc.*	247		457
Cato Corp. — Class A	39		453
Xponential Fitness, Inc. — Class A*	36		452
Superior Group of Companies, Inc.	25		444

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
GrowGeneration Corp.*	123	$	442
Container Store Group, Inc.*	70		436
Destination XL Group, Inc.*	128		434
PLBY Group, Inc.*	67		429
Citi Trends, Inc.*	18		426
Full House Resorts, Inc.*	70		426
Weber, Inc. — Class A	58		418
Century Casinos, Inc.*	58		417
Noodles & Co.*	88		414
El Pollo Loco Holdings, Inc.*	42		413
Velodyne Lidar, Inc.*	414		395
NEOGAMES S.A.*	28		376
Target Hospitality Corp.*	65		371
Purple Innovation, Inc.*	118		361
Snap One Holdings Corp.*	39		358
ONE Group Hospitality, Inc.*	48		354
Tilly's, Inc. — Class A	49		344
Blue Bird Corp.*	37		341
Sweetgreen, Inc. — Class A*	29		338
Weyco Group, Inc.	13		318
ThredUp, Inc. — Class A*	126		315
Party City Holdco, Inc.*	234		309
F45 Training Holdings, Inc.*	78		307
First Watch Restaurant Group, Inc.*	21		303
Lifetime Brands, Inc.	27		298
Traeger, Inc.*	69		293
Reservoir Media, Inc.*	44		287
Aterian, Inc.*,1	131		283
Express, Inc.*	138		270
Duluth Holdings, Inc. — Class B*	28		267
Biglari Holdings, Inc. — Class B*	2		245
Tile Shop Holdings, Inc.	78		239
Lightning eMotors, Inc.*	84		233
Conn's, Inc.*	28		225
Xos, Inc.*	117		215
JOANN, Inc.	24		186
Marine Products Corp.	18		171
Landsea Homes Corp.*	22		147
Torrid Holdings, Inc.*	32		138
Sonder Holdings, Inc.*	94		98
CompX International, Inc.	3		70
Mullen Automotive, Inc.*	33		34
Cepton, Inc.*	17		27
Total Consumer, Cyclical			543,821
Technology - 7.2%
Sailpoint Technologies Holdings, Inc.*	200		12,536
Silicon Laboratories, Inc.*	78		10,937
Tenable Holdings, Inc.*	236		10,717
CMC Materials, Inc.	61		10,644
Qualys, Inc.*	84		10,596
ExlService Holdings, Inc.*	69		10,166
Synaptics, Inc.*	85		10,034
Power Integrations, Inc.	124		9,301
SPS Commerce, Inc.*	78		8,818
Rapid7, Inc.*	125		8,350
Maximus, Inc.	132		8,251
Blackline, Inc.*	118		7,859
Semtech Corp.*	136		7,476
Onto Innovation, Inc.*	106		7,392
Ziff Davis, Inc.*	98		7,304
Box, Inc. — Class A*	277		6,964
Varonis Systems, Inc.*	234		6,861
DigitalOcean Holdings, Inc.*,1	164		6,783
Workiva, Inc.*	102		6,731
FormFactor, Inc.*	167		6,468
ACI Worldwide, Inc.*	246		6,369
Envestnet, Inc.*	118		6,227
Diodes, Inc.*	95		6,134
ManTech International Corp. — Class A	64		6,109
CommVault Systems, Inc.*	95		5,975
Altair Engineering, Inc. — Class A*	111		5,827
Blackbaud, Inc.*	100		5,807
Insight Enterprises, Inc.*	67		5,781
Verint Systems, Inc.*	136		5,760
Sprout Social, Inc. — Class A*	99		5,749
SiTime Corp.*	34		5,543
Evolent Health, Inc. — Class A*	176		5,405
Kulicke & Soffa Industries, Inc.	125		5,351
MaxLinear, Inc. — Class A*	154		5,233
NetScout Systems, Inc.*	151		5,111
Ambarella, Inc.*	78		5,106
Rambus, Inc.*	235		5,050
MACOM Technology Solutions Holdings, Inc.*	108		4,979
Verra Mobility Corp.*	313		4,917
PagerDuty, Inc.*	182		4,510
Duolingo, Inc.*	50		4,377
Progress Software Corp.	94		4,258
CSG Systems International, Inc.	69		4,118
Appian Corp.*,1	86		4,073
Super Micro Computer, Inc.*	97		3,914
Axcelis Technologies, Inc.*	70		3,839
Appfolio, Inc. — Class A*	41		3,716
Amkor Technology, Inc.	218		3,695
Xerox Holdings Corp.	245		3,638
Allscripts Healthcare Solutions, Inc.*	244		3,618
Digital Turbine, Inc.*	197		3,442
E2open Parent Holdings, Inc.*	427		3,322
MicroStrategy, Inc. — Class A*,1	20		3,286
Xperi Holding Corp.	223		3,218
Apollo Medical Holdings, Inc.*	83		3,203
Schrodinger Incorporated/United States*	116		3,064
1Life Healthcare, Inc.*	387		3,034
Ping Identity Holding Corp.*	166		3,011
Parsons Corp.*	72		2,910
Ultra Clean Holdings, Inc.*	97		2,888
Cohu, Inc.*	103		2,858
Asana, Inc. — Class A*	158		2,778
Fastly, Inc. — Class A*	239		2,775
TTEC Holdings, Inc.	40		2,716
Privia Health Group, Inc.*	93		2,708
C3.ai, Inc. — Class A*	148		2,702
Clear Secure, Inc. — Class A*	133		2,660
Impinj, Inc.*	45		2,640
3D Systems Corp.*	272		2,638
Phreesia, Inc.*	105		2,626
Photronics, Inc.*	129		2,513
Momentive Global, Inc.*	284		2,499
Duck Creek Technologies, Inc.*	166		2,465
KnowBe4, Inc. — Class A*	156		2,437
Everbridge, Inc.*	85		2,371
PROS Holdings, Inc.*	88		2,308

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
BigCommerce Holdings, Inc.*	138	$	2,236
Zuora, Inc. — Class A*	242		2,166
PAR Technology Corp.*	57		2,137
LivePerson, Inc.*	151		2,135
Cerence, Inc.*	84		2,119
Veeco Instruments, Inc.*	107		2,076
NextGen Healthcare, Inc.*	119		2,075
Alignment Healthcare, Inc.*	181		2,065
Avid Technology, Inc.*	77		1,998
Agilysys, Inc.*	42		1,985
Model N, Inc.*	77		1,970
AvidXchange Holdings, Inc.*	314		1,928
Olo, Inc. — Class A*,1	193		1,905
Domo, Inc. — Class B*	65		1,807
Digi International, Inc.*	73		1,768
Grid Dynamics Holdings, Inc.*	104		1,749
ACM Research, Inc. — Class A*	103		1,734
Donnelley Financial Solutions, Inc.*	59		1,728
SMART Global Holdings, Inc.*	105		1,719
Matterport, Inc.*	469		1,717
Amplitude, Inc. — Class A*	120		1,715
Unisys Corp.*	142		1,708
Health Catalyst, Inc.*	116		1,681
CEVA, Inc.*	49		1,644
Simulations Plus, Inc.	33		1,628
Sapiens International Corporation N.V.	66		1,597
Cardlytics, Inc.*	71		1,584
ACV Auctions, Inc. — Class A*	242		1,583
Conduent, Inc.*	364		1,573
Alpha & Omega Semiconductor Ltd.*	47		1,567
Outset Medical, Inc.*	103		1,531
Consensus Cloud Solutions, Inc.*	34		1,485
PubMatic, Inc. — Class A*	89		1,414
PDF Solutions, Inc.*	65		1,398
Sumo Logic, Inc.*	183		1,371
Pitney Bowes, Inc.	371		1,343
N-able, Inc.*	146		1,314
ForgeRock, Inc. — Class A*	60		1,285
Desktop Metal, Inc. — Class A*	567		1,248
Yext, Inc.*	258		1,233
8x8, Inc.*	236		1,215
EngageSmart, Inc.*	75		1,206
AvePoint, Inc.*	276		1,198
PowerSchool Holdings, Inc. — Class A*	98		1,181
Hims & Hers Health, Inc.*	260		1,178
IonQ, Inc.*,1	255		1,117
American Software, Inc. — Class A	67		1,083
Corsair Gaming, Inc.*,1	82		1,077
BTRS Holdings, Inc. — Class 1*	215		1,071
Alkami Technology, Inc.*	77		1,069
SolarWinds Corp.	104		1,066
OneSpan, Inc.*	86		1,023
Computer Programs and Systems, Inc.*	31		991
Ebix, Inc.1	57		963
Bandwidth, Inc. — Class A*	50		941
Blend Labs, Inc. — Class A*	397		937
Telos Corp.*	115		929
Vuzix Corp.*,1	127		902
Upland Software, Inc.*	62		900
Rackspace Technology, Inc.*	123		882
CS Disco, Inc.*	48		866
ON24, Inc.*	89		845
Mitek Systems, Inc.*	91		841
Instructure Holdings, Inc.*	37		840
Cvent Holding Corp.*	180		832
MeridianLink, Inc.*	49		818
Integral Ad Science Holding Corp.*	82		814
Skillz, Inc.*	655		812
Daily Journal Corp.*	3		776
Playstudios, Inc.*	170		728
Cantaloupe, Inc.*	125		700
HireRight Holdings Corp.*,1	45		639
Rimini Street, Inc.*	104		625
Skillsoft Corp.*	174		612
Enfusion, Inc. — Class A*	55		562
Brightcove, Inc.*	88		556
Faraday Future Intelligent Electric, Inc.*	213		554
GTY Technology Holdings, Inc.*	87		545
AXT, Inc.*	87		510
UserTesting, Inc.*	101		507
WM Technology, Inc.*	154		507
Rockley Photonics Holdings Ltd.*	219		477
Ouster, Inc.*	293		475
EverCommerce, Inc.*	52		470
Porch Group, Inc.*	173		443
Intapp, Inc.*	30		439
eGain Corp.*	45		439
Veritone, Inc.*	67		437
Markforged Holding Corp.*	236		437
Outbrain, Inc.*	86		433
Benefitfocus, Inc.*	55		428
Atomera, Inc.*	44		413
Digimarc Corp.*	29		410
Inspired Entertainment, Inc.*	47		405
Avaya Holdings Corp.*	179		401
Red Violet, Inc.*	20		381
Convey Health Solutions Holdings, Inc.*	35		364
Diebold Nixdorf, Inc.*	157		356
Cerberus Cyber Sentinel Corp.*,1	98		353
Inseego Corp.*	185		350
IronNet, Inc.*	139		307
Zeta Global Holdings Corp. — Class A*	67		303
Nutex Health, Inc.*	83		268
Rigetti Computing, Inc.*,1	69		253
Arteris, Inc.*	36		251
NextNav, Inc.*	105		238
SecureWorks Corp. — Class A*	21		228
Sharecare, Inc.*	132		209
IBEX Holdings Ltd.*	12		202
Latch, Inc.*	151		172
Velo3D, Inc.*	121		167
Loyalty Ventures, Inc.*	43		153
Viant Technology, Inc. — Class A*	30		152
SkyWater Technology, Inc.*	23		138
Kaleyra, Inc.*	63		128

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
LiveVox Holdings, Inc.*	48	$	80
Weave Communications, Inc.*	11		33
Total Technology			512,979
Energy - 3.8%
Matador Resources Co.	241		11,228
Murphy Oil Corp.	316		9,540
Helmerich & Payne, Inc.	220		9,473
SM Energy Co.	260		8,889
ChampionX Corp.	438		8,694
Civitas Resources, Inc.	158		8,262
Magnolia Oil & Gas Corp. — Class A	358		7,514
Patterson-UTI Energy, Inc.	460		7,250
CNX Resources Corp.*	413		6,798
Denbury, Inc.*	109		6,539
California Resources Corp.	168		6,468
PBF Energy, Inc. — Class A*	208		6,036
Kosmos Energy Ltd.*	968		5,992
Whiting Petroleum Corp.	84		5,715
Equitrans Midstream Corp.	882		5,609
Valaris Ltd.*	131		5,533
Peabody Energy Corp.*	252		5,375
Oasis Petroleum, Inc.	42		5,109
Alpha Metallurgical Resources, Inc.	38		4,907
Arch Resources, Inc.1	33		4,722
Callon Petroleum Co.*	106		4,155
Shoals Technologies Group, Inc. — Class A*	240		3,955
Sunnova Energy International, Inc.*	213		3,926
Liberty Energy, Inc. — Class A*	306		3,905
Delek US Holdings, Inc.	151		3,902
CONSOL Energy, Inc.*	74		3,654
NexTier Oilfield Solutions, Inc.*	377		3,585
Northern Oil and Gas, Inc.	141		3,562
Array Technologies, Inc.*	323		3,556
Warrior Met Coal, Inc.	110		3,367
Tellurian, Inc.*	1,094		3,260
Weatherford International plc*	152		3,218
Green Plains, Inc.*	113		3,070
FuelCell Energy, Inc.*	792		2,970
SunPower Corp. — Class A*	175		2,767
Brigham Minerals, Inc. — Class A	109		2,685
Centennial Resource Development, Inc. — Class A*	441		2,637
Laredo Petroleum, Inc.*	37		2,551
Nabors Industries Ltd.*	19		2,544
Archrock, Inc.	290		2,398
Comstock Resources, Inc.*	197		2,380
NOW, Inc.*	236		2,308
Oceaneering International, Inc.*	214		2,286
Stem, Inc.*	309		2,212
Talos Energy, Inc.*	142		2,197
CVR Energy, Inc.	63		2,110
Gulfport Energy Corp.*	26		2,067
Noble Corp.*	81		2,053
Archaea Energy, Inc.*	128		1,988
Expro Group Holdings N.V.*	166		1,912
Dril-Quip, Inc.*	73		1,883
ProPetro Holding Corp.*	187		1,870
US Silica Holdings, Inc.*	159		1,816
MRC Global, Inc.*	178		1,773
Tidewater, Inc.*	82		1,729
Par Pacific Holdings, Inc.*	105		1,637
Ranger Oil Corp. — Class A*	46		1,512
Montauk Renewables, Inc.*	138		1,387
Borr Drilling Ltd.*	288		1,328
Berry Corp.	172		1,311
Earthstone Energy, Inc. — Class A*	93		1,269
Diamond Offshore Drilling, Inc.*	214		1,260
Kinetik Holdings, Inc. — Class A	36		1,229
Vertex Energy, Inc.*	116		1,220
SunCoke Energy, Inc.	179		1,219
Bristow Group, Inc.*	51		1,193
RPC, Inc.*	159		1,099
TETRA Technologies, Inc.*	267		1,084
SandRidge Energy, Inc.*	68		1,066
Select Energy Services, Inc. — Class A*	153		1,044
Gevo, Inc.*	422		992
TPI Composites, Inc.*	78		975
Helix Energy Solutions Group, Inc.*	307		952
REX American Resources Corp.*	11		933
W&T Offshore, Inc.*	203		877
Crescent Energy Co. — Class A	70		874
VAALCO Energy, Inc.	125		868
Excelerate Energy, Inc. — Class A*	40		797
Aris Water Solution, Inc. — Class A	47		784
Solaris Oilfield Infrastructure, Inc. — Class A	68		740
Fluence Energy, Inc.*	77		730
DMC Global, Inc.*	40		721
Oil States International, Inc.*	131		710
SilverBow Resources, Inc.*	25		709
Ramaco Resources, Inc.	48		632
Sitio Royalties Corp.	26		591
Alto Ingredients, Inc.*	155		575
Newpark Resources, Inc.*	182		562
National Energy Services Reunited Corp.*	82		556
Energy Vault Holdings, Inc.*	54		541
Riley Exploration Permian, Inc.	22		532
Infrastructure and Energy Alternatives, Inc.*	65		522
Amplify Energy Corp.*	76		497
Ring Energy, Inc.*	185		492
FutureFuel Corp.	55		400
HighPeak Energy, Inc.	14		359
NACCO Industries, Inc. — Class A	9		341
Cleanspark, Inc.*	86		337
Aemetis, Inc.*	62		304
Eneti, Inc.	49		301
NextDecade Corp.*,1	66		293
Empire Petroleum Corp.*	15		178
Heliogen, Inc.*	41		87
Battalion Oil Corp.*	5		43
Total Energy			274,567
Communications - 3.1%
Vonage Holdings Corp.*	551		10,381
Iridium Communications, Inc.*	273		10,254
TEGNA, Inc.	478		10,024

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Marqeta, Inc. — Class A*	931	$	7,550
Perficient, Inc.*	73		6,693
Viavi Solutions, Inc.*	488		6,456
DigitalBridge Group, Inc.*	1,268		6,188
Cogent Communications Holdings, Inc.	92		5,590
Upwork, Inc.*	257		5,315
Bumble, Inc. — Class A*	185		5,208
Cargurus, Inc.*	219		4,706
Q2 Holdings, Inc.*	120		4,628
Calix, Inc.*	122		4,165
Yelp, Inc. — Class A*	147		4,082
Maxar Technologies, Inc.	156		4,070
InterDigital, Inc.	66		4,013
TechTarget, Inc.*	59		3,877
Plantronics, Inc.*	91		3,611
Telephone & Data Systems, Inc.	216		3,411
Gray Television, Inc.	181		3,057
ePlus, Inc.*	57		3,028
Shutterstock, Inc.	52		2,980
CommScope Holding Company, Inc.*	440		2,693
Liberty Latin America Ltd. — Class C*	328		2,555
Magnite, Inc.*	281		2,495
Figs, Inc. — Class A*	273		2,487
Extreme Networks, Inc.*	274		2,444
Open Lending Corp. — Class A*	226		2,312
Shenandoah Telecommunications Co.	104		2,309
Revolve Group, Inc.*	88		2,280
Overstock.com, Inc.*	91		2,276
Infinera Corp.*	406		2,176
Scholastic Corp.	59		2,122
WideOpenWest, Inc.*	115		2,094
iHeartMedia, Inc. — Class A*	258		2,036
A10 Networks, Inc.	141		2,027
ContextLogic, Inc. — Class A*,1	1,220		1,952
AMC Networks, Inc. — Class A*	65		1,893
Vimeo, Inc.*	307		1,848
ADTRAN, Inc.	105		1,841
Sinclair Broadcast Group, Inc. — Class A	89		1,816
Globalstar, Inc.*,1	1,467		1,804
NeoPhotonics Corp.*	113		1,777
Gogo, Inc.*	107		1,732
Harmonic, Inc.*	197		1,708
Eventbrite, Inc. — Class A*	165		1,695
EW Scripps Co. — Class A*	125		1,559
Clearfield, Inc.*	25		1,549
EchoStar Corp. — Class A*	76		1,467
Planet Labs PBC*	333		1,442
Cars.com, Inc.*	149		1,405
Squarespace, Inc. — Class A*	67		1,402
Thryv Holdings, Inc.*	54		1,209
NETGEAR, Inc.*	61		1,130
HealthStream, Inc.*	52		1,129
QuinStreet, Inc.*	111		1,117
Consolidated Communications Holdings, Inc.*	159		1,113
ATN International, Inc.	23		1,079
Anterix, Inc.*	26		1,068
OptimizeRx Corp.*	38		1,041
Cyxtera Technologies, Inc.*	91		1,032
Poshmark, Inc. — Class A*	99		1,001
fuboTV, Inc.*	382		944
Couchbase, Inc.*	57		936
Tucows, Inc. — Class A*	21		935
ChannelAdvisor Corp.*	64		933
United States Cellular Corp.*	32		927
Boston Omaha Corp. — Class A*	44		909
Stagwell, Inc.*	167		907
Gannett Company, Inc.*	309		896
Stitch Fix, Inc. — Class A*	174		860
Clear Channel Outdoor Holdings, Inc.*	783		838
Allbirds, Inc. — Class A*	202		794
IDT Corp. — Class B*	31		780
CarParts.com, Inc.*	109		756
Rover Group, Inc.*	199		748
Liquidity Services, Inc.*	53		712
Edgio, Inc.*	294		679
Advantage Solutions, Inc.*	177		672
Liberty Latin America Ltd. — Class A*	83		648
DZS, Inc.*	37		602
Aviat Networks, Inc.*	24		601
Credo Technology Group Holding Ltd.*,1	50		584
Ooma, Inc.*	49		580
Entravision Communications Corp. — Class A	127		579
Quotient Technology, Inc.*	192		570
1-800-Flowers.com, Inc. — Class A*	58		552
Blade Air Mobility, Inc.*,1	120		535
Groupon, Inc.*	46		520
MediaAlpha, Inc. — Class A*	51		502
Ribbon Communications, Inc.*	155		471
DHI Group, Inc.*	92		457
RealReal, Inc.*	182		453
Focus Universal, Inc.*,1	38		434
Vivid Seats, Inc. — Class A1	53		396
Ondas Holdings, Inc.*	73		393
EverQuote, Inc. — Class A*	42		371
Cambium Networks Corp.*	25		366
Lands' End, Inc.*	33		350
RumbleON, Inc. — Class B*	22		324
Cumulus Media, Inc. — Class A*	40		309
Preformed Line Products Co.	5		307
Casa Systems, Inc.*	76		299
1stdibs.com, Inc.*	50		285
Vacasa, Inc. — Class A*	88		253
Nerdy, Inc.*	116		247
Audacy, Inc.*	256		241
Terran Orbital Corp.*	51		234
KORE Group Holdings, Inc.*	75		230
Arena Group Holdings, Inc.*	24		216
Starry Group Holdings, Inc. — Class A*,1	51		210
Solo Brands, Inc. — Class A*,1	47		191
Gambling.com Group Ltd.*	19		150
Lulu's Fashion Lounge Holdings, Inc.*	13		141
BARK, Inc.*	110		141
Value Line, Inc.	2		132
Urban One, Inc.*	26		111

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
AdTheorent Holding Company, Inc.*	34	$	105
Inspirato, Inc.*	22		102
Urban One, Inc.*	18		98
Innovid Corp.*	48		80
aka Brands Holding Corp.*	24		66
Total Communications			218,064
Utilities - 2.4%
Southwest Gas Holdings, Inc.	142		12,366
Black Hills Corp.	139		10,115
ONE Gas, Inc.	115		9,337
Portland General Electric Co.	192		9,279
New Jersey Resources Corp.	206		9,173
South Jersey Industries, Inc.	263		8,979
Brookfield Infrastructure Corp. — Class A	210		8,925
PNM Resources, Inc.	183		8,744
Spire, Inc.	109		8,106
Ormat Technologies, Inc.	97		7,600
ALLETE, Inc.	123		7,230
NorthWestern Corp.	117		6,895
Avista Corp.	155		6,744
American States Water Co.	79		6,439
California Water Service Group	115		6,388
Clearway Energy, Inc. — Class C	176		6,132
MGE Energy, Inc.	78		6,071
Otter Tail Corp.	88		5,907
Chesapeake Utilities Corp.	37		4,793
Northwest Natural Holding Co.	73		3,876
SJW Group	58		3,620
Middlesex Water Co.	37		3,244
Ameresco, Inc. — Class A*	68		3,098
Clearway Energy, Inc. — Class A	75		2,398
Unitil Corp.	34		1,997
York Water Co.	30		1,213
Artesian Resources Corp. — Class A	18		885
Altus Power, Inc.*	90		568
Global Water Resources, Inc.	28		370
FTC Solar, Inc.*	89		322
Via Renewables, Inc.	26		199
Total Utilities			171,013
Basic Materials - 2.3%
Rogers Corp.*	40		10,484
Balchem Corp.	68		8,822
Commercial Metals Co.	259		8,573
Livent Corp.*	348		7,896
Cabot Corp.	119		7,591
Sensient Technologies Corp.	90		7,250
HB Fuller Co.	114		6,864
Arconic Corp.*	227		6,367
Allegheny Technologies, Inc.*	266		6,041
Ingevity Corp.*	83		5,241
Innospec, Inc.	53		5,077
Stepan Co.	46		4,662
Hecla Mining Co.	1,147		4,496
Quaker Chemical Corp.	29		4,336
Minerals Technologies, Inc.	70		4,294
Tronox Holdings plc — Class A	251		4,217
Constellium SE*	266		3,514
GCP Applied Technologies, Inc.*	107		3,347
Trinseo plc	78		3,000
Carpenter Technology Corp.	102		2,846
Perimeter Solutions S.A.*	261		2,829
Kaiser Aluminum Corp.	34		2,689
Compass Minerals International, Inc.	74		2,619
Sylvamo Corp.	76		2,484
Novagold Resources, Inc.*	513		2,468
Orion Engineered Carbons S.A.	130		2,019
AdvanSix, Inc.	58		1,939
Uranium Energy Corp.*	599		1,845
Schnitzer Steel Industries, Inc. — Class A	56		1,839
Coeur Mining, Inc.*	597		1,815
Schweitzer-Mauduit International, Inc.	68		1,708
Energy Fuels, Inc.*	335		1,645
Lightwave Logic, Inc.*	240		1,570
Hawkins, Inc.	42		1,513
American Vanguard Corp.	63		1,408
Codexis, Inc.*	131		1,370
Ecovyst, Inc.	137		1,349
Piedmont Lithium, Inc.*	37		1,347
Resolute Forest Products, Inc.*	99		1,263
Neenah, Inc.	36		1,229
Clearwater Paper Corp.*	36		1,210
Origin Materials, Inc.*	228		1,167
Diversey Holdings Ltd.*	168		1,109
Intrepid Potash, Inc.*	24		1,087
Koppers Holdings, Inc.	44		996
Danimer Scientific, Inc.*,1	194		885
Kronos Worldwide, Inc.	47		865
5E Advanced Materials, Inc.*	69		841
Century Aluminum Co.*	111		818
Amyris, Inc.*	422		781
Glatfelter Corp.	94		647
Ur-Energy, Inc.*	449		476
United States Lime & Minerals, Inc.	4		422
Unifi, Inc.*	30		422
Dakota Gold Corp.*	109		365
Hycroft Mining Holding Corp.*	324		360
Rayonier Advanced Materials, Inc.*	132		346
Valhi, Inc.	5		227
PolyMet Mining Corp.*	63		173
Terawulf, Inc.*	46		55
Total Basic Materials			165,118
Government - 0.0%
Banco Latinoamericano de Comercio Exterior S.A. — Class E	59		783
Diversified - 0.0%
Professional Holding Corp. — Class A*	28		561
Total Common Stocks
(Cost $5,682,261)			4,876,355

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
RIGHTS††† - 0.0%
Consumer, Non-cyclical - 0.0%
Tobira Therapeutics, Inc.*	14	$	–
UCB*	140		–
Total Consumer, Non-cyclical			–
Total Rights
(Cost $–)			–

MUTUAL FUNDS† - 19.0%
Guggenheim Ultra Short Duration Fund — Institutional Class2	76,553	738,738
Guggenheim Strategy Fund II2	25,618	618,412
Total Mutual Funds
(Cost $1,387,675)		1,357,150

	Face Amount
U.S. TREASURY BILLS†† - 5.6%
U.S. Cash Management Bill 1.34% due 10/04/223,4	$	381,000	379,185
U.S. Treasury Bills 1.02% due 07/19/224,5		17,000	16,992
Total U.S. Treasury Bills
(Cost $396,590)			396,177

REPURCHASE AGREEMENTS††,6 - 16.0%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/223	645,018	645,018
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/223	251,194	251,194
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/223	248,707	248,707
Total Repurchase Agreements
(Cost $1,144,919)		1,144,919

	Shares
SECURITIES LENDING COLLATERAL†,7 - 0.9%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%8		66,042		66,042
Total Securities Lending Collateral
(Cost $66,042)				66,042
Total Investments - 109.8%
(Cost $8,677,487)			$	7,840,643
Other Assets & Liabilities, net - (9.8)%				(700,120	)
Total Net Assets - 100.0%			$	7,140,523

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Purchased†
Russell 2000 Index Mini Futures Contracts		3	Sep 2022	$	256,275	$	(13,827	)

Total Return Swap Agreements                          

Counterparty	Index	Type		Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	Russell 2000 Index		Pay	1.83% (Federal Funds Rate + 0.25%)	At Maturity	11/17/22		1,404	$	2,397,567	$	(62,298	)
BNP Paribas	Russell 2000 Index		Pay	1.78% (Federal Funds Rate + 0.20%)	At Maturity	11/17/22		617		1,054,252		(195,736	)
Barclays Bank plc	Russell 2000 Index		Pay	1.51% (SOFR)	At Maturity	11/16/22		1,241		2,119,583		(346,168	)
									$	5,571,402	$	(604,202	)

*	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, 2022 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.
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, 2022.
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, 2022.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

Russell 2000 ® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	4,876,355	$	—	$	—		$	4,876,355
Rights		—		—		—	*		—
Mutual Funds		1,357,150		—		—			1,357,150
U.S. Treasury Bills		—		396,177		—			396,177
Repurchase Agreements		—		1,144,919		—			1,144,919
Securities Lending Collateral		66,042		—		—			66,042
Total Assets	$	6,299,547	$	1,541,096	$	—		$	7,840,643

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	13,827	$	—	$	—	$	13,827
Equity Index Swap Agreements**		—		604,202		—		604,202
Total Liabilities	$	13,827	$	604,202	$	—	$	618,029

* Includes securities with a market value of $0.

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:

Security Name	Value 3/31/22	Additions	Reductions	Realized Gain (Loss)	Change in Unrealized Appreciation (Depreciation)	Value 6/30/22	Shares 6/30/22	Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$905,308	$–	$(275,000)	$(6,008)	$(5,888)	$618,412	25,618	$3,744
Guggenheim Ultra Short Duration Fund — Institutional Class	899,762	–	(150,000)	(3,071)	(7,953)	738,738	76,553	2,750
	$1,805,070	$–	$(425,000)	$(9,079)	$(13,841)	$1,357,150		$6,494

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 80.7%
Financial - 19.6%
SouthState Corp.		531	$	40,967
STAG Industrial, Inc. REIT		1,277		39,434
Agree Realty Corp. REIT		526		37,940
Glacier Bancorp, Inc.		787		37,320
Selective Insurance Group, Inc.		422		36,689
First Financial Bankshares, Inc.		920		36,128
Kinsale Capital Group, Inc.		153		35,135
Blackstone Mortgage Trust, Inc. — Class A REIT		1,205		33,342
United Bankshares, Inc.		938		32,896
Independence Realty Trust, Inc. REIT		1,569		32,525
RLI Corp.		276		32,179
Valley National Bancorp		3,049		31,740
Old National Bancorp		2,076		30,704
Cadence Bank		1,297		30,454
Terreno Realty Corp. REIT		526		29,314
Healthcare Realty Trust, Inc. REIT		1,072		29,158
Essent Group Ltd.		746		29,019
Ryman Hospitality Properties, Inc. REIT*		381		28,967
Houlihan Lokey, Inc.		361		28,494
ServisFirst Bancshares, Inc.		355		28,017
Home BancShares, Inc.		1,346		27,956
Physicians Realty Trust REIT		1,592		27,780
Hancock Whitney Corp.		610		27,041
Phillips Edison & Company, Inc. REIT1		809		27,029
UMB Financial Corp.		312		26,863
PS Business Parks, Inc. REIT		143		26,763
Kite Realty Group Trust REIT		1,542		26,661
Independent Bank Corp.		330		26,212
First Interstate BancSystem, Inc. — Class A		663		25,267
Broadstone Net Lease, Inc. REIT		1,198		24,571
Radian Group, Inc.		1,226		24,091
Community Bank System, Inc.		378		23,920
CVB Financial Corp.		957		23,743
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT		603		22,830
Sabra Health Care REIT, Inc.		1,634		22,827
United Community Banks, Inc.		752		22,703
Apple Hospitality REIT, Inc.		1,523		22,342
Innovative Industrial Properties, Inc. REIT		197		21,644
LXP Industrial Trust REIT		2,002		21,502
PotlatchDeltic Corp. REIT		483		21,344
Equity Commonwealth REIT*		764		21,033
Eastern Bankshares, Inc.		1,138		21,007
Walker & Dunlop, Inc.		218		21,002
Corporate Office Properties Trust REIT		798		20,900
BankUnited, Inc.		578		20,559
American Equity Investment Life Holding Co.		552		20,187
Cathay General Bancorp		510		19,966
Essential Properties Realty Trust, Inc. REIT		924		19,857
Federated Hermes, Inc. — Class B		622		19,773
Pacific Premier Bancorp, Inc.		664		19,415
Associated Banc-Corp.		1,056		19,283
National Health Investors, Inc. REIT		313		18,971
Texas Capital Bancshares, Inc.*		360		18,950
Mr Cooper Group, Inc.*		514		18,884
Simmons First National Corp. — Class A		886		18,836
Ameris Bancorp		468		18,804
SITE Centers Corp. REIT		1,379		18,575
WSFS Financial Corp.		456		18,281
Moelis & Co. — Class A		457		17,983
Atlantic Union Bankshares Corp.		530		17,978
First BanCorp		1,388		17,919
Independent Bank Group, Inc.		260		17,657
Outfront Media, Inc. REIT		1,036		17,560
Enstar Group Ltd.*		82		17,546
Cushman & Wakefield plc*		1,125		17,145
Hamilton Lane, Inc. — Class A		250		16,795
Trupanion, Inc.*		276		16,632
Fulton Financial Corp.		1,148		16,589
Columbia Banking System, Inc.		558		15,987
Kennedy-Wilson Holdings, Inc.		836		15,834
Uniti Group, Inc. REIT		1,679		15,816
International Bancshares Corp.		385		15,431
Pebblebrook Hotel Trust REIT		919		15,228
Artisan Partners Asset Management, Inc. — Class A		425		15,117
Sunstone Hotel Investors, Inc. REIT*		1,522		15,098
Four Corners Property Trust, Inc. REIT		567		15,077
Chimera Investment Corp. REIT		1,683		14,844
CNO Financial Group, Inc.		814		14,725
Axos Financial, Inc.*		406		14,555
First Merchants Corp.		405		14,426
Arbor Realty Trust, Inc. REIT		1,100		14,421

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Jackson Financial, Inc. — Class A		535	$	14,311
Seacoast Banking Corporation of Florida		429		14,174
Focus Financial Partners, Inc. — Class A*		411		13,999
Piper Sandler Cos.		123		13,943
Washington Federal, Inc.		459		13,779
Banner Corp.		242		13,603
Retail Opportunity Investments Corp. REIT		853		13,460
BancFirst Corp.		139		13,304
Macerich Co. REIT		1,524		13,274
Washington Real Estate Investment Trust REIT		619		13,191
Bread Financial Holdings, Inc.		354		13,119
Flagstar Bancorp, Inc.		370		13,116
WesBanco, Inc.		413		13,096
McGrath RentCorp		172		13,072
TowneBank		477		12,951
RLJ Lodging Trust REIT		1,164		12,839
First Financial Bancorp		660		12,804
Genworth Financial, Inc. — Class A*		3,602		12,715
Trustmark Corp.		434		12,668
CareTrust REIT, Inc.		683		12,595
InvenTrust Properties Corp. REIT		480		12,379
Park National Corp.		102		12,367
Urban Edge Properties REIT		810		12,320
Easterly Government Properties, Inc. REIT		645		12,281
Sandy Spring Bancorp, Inc.		313		12,229
DiamondRock Hospitality Co. REIT*		1,484		12,184
Two Harbors Investment Corp. REIT		2,445		12,176
Stock Yards Bancorp, Inc.		203		12,143
Heartland Financial USA, Inc.		291		12,088
PJT Partners, Inc. — Class A		170		11,948
Silvergate Capital Corp. — Class A*		222		11,884
Provident Financial Services, Inc.		529		11,776
Xenia Hotels & Resorts, Inc. REIT*		810		11,769
Brandywine Realty Trust REIT		1,202		11,587
Hilltop Holdings, Inc.		434		11,570
Lakeland Financial Corp.		174		11,557
Navient Corp.		822		11,500
Cohen & Steers, Inc.		180		11,446
Piedmont Office Realty Trust, Inc. — Class A REIT		870		11,414
Hope Bancorp, Inc.		820		11,349
Horace Mann Educators Corp.		295		11,322
Renasant Corp.		387		11,149
NBT Bancorp, Inc.		296		11,127
Palomar Holdings, Inc.*		172		11,077
Northwest Bancshares, Inc.		860		11,008
Bank of NT Butterfield & Son Ltd.		352		10,979
Claros Mortgage Trust, Inc.		651		10,904
Veritex Holdings, Inc.		372		10,885
Triumph Bancorp, Inc.*		170		10,635
Eagle Bancorp, Inc.		224		10,620
LTC Properties, Inc. REIT		276		10,596
Global Net Lease, Inc. REIT		737		10,436
Apollo Commercial Real Estate Finance, Inc. REIT		996		10,398
Enterprise Financial Services Corp.		250		10,375
American Assets Trust, Inc. REIT		349		10,365
Cannae Holdings, Inc.*		535		10,347
Westamerica BanCorp		185		10,297
Acadia Realty Trust REIT		659		10,294
TriCo Bancshares		224		10,223
PRA Group, Inc.*		281		10,217
Tanger Factory Outlet Centers, Inc. REIT		718		10,210
Newmark Group, Inc. — Class A		1,046		10,115
FB Financial Corp.		257		10,080
NexPoint Residential Trust, Inc. REIT		160		10,002
BRP Group, Inc. — Class A*		414		9,998
NMI Holdings, Inc. — Class A*		598		9,957
Encore Capital Group, Inc.*		171		9,879
Safety Insurance Group, Inc.		101		9,807
StepStone Group, Inc. — Class A		373		9,709
St. Joe Co.		244		9,653
Paramount Group, Inc. REIT		1,321		9,551
StoneX Group, Inc.*		122		9,525
Stewart Information Services Corp.		190		9,452
Alexander & Baldwin, Inc. REIT		513		9,208
Compass Diversified Holdings		429		9,189
PennyMac Financial Services, Inc.		209		9,135
Nelnet, Inc. — Class A		106		9,037
ProAssurance Corp.		382		9,027
PennyMac Mortgage Investment Trust REIT		651		9,003
Centerspace REIT		109		8,889
First Commonwealth Financial Corp.		661		8,871
First Bancorp		250		8,725
Virtus Investment Partners, Inc.		51		8,722
OFG Bancorp		337		8,560
Ladder Capital Corp. — Class A REIT		804		8,474
Capitol Federal Financial, Inc.		920		8,446
LendingClub Corp.*		717		8,382
Mercury General Corp.		189		8,373
First Busey Corp.		365		8,340
City Holding Co.		104		8,308

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Argo Group International Holdings Ltd.		225	$	8,293
Employers Holdings, Inc.		195		8,169
Berkshire Hills Bancorp, Inc.		327		8,100
Southside Bancshares, Inc.		216		8,083
Veris Residential, Inc. REIT*		610		8,076
Radius Global Infrastructure, Inc. — Class A*		529		8,073
Anywhere Real Estate, Inc.*		820		8,061
Franklin BSP Realty Trust, Inc. REIT		596		8,034
Meta Financial Group, Inc.		205		7,927
Getty Realty Corp. REIT		299		7,924
National Bank Holdings Corp. — Class A		207		7,922
Live Oak Bancshares, Inc.		232		7,862
OceanFirst Financial Corp.		411		7,862
MFA Financial, Inc. REIT		726		7,805
Bancorp, Inc.*		394		7,691
BGC Partners, Inc. — Class A		2,261		7,620
S&T Bancorp, Inc.		276		7,571
New York Mortgage Trust, Inc. REIT		2,690		7,424
Customers Bancorp, Inc.*		219		7,424
First Foundation, Inc.		362		7,414
Tompkins Financial Corp.		100		7,210
Brookline Bancorp, Inc.		537		7,147
AMERISAFE, Inc.		136		7,073
Dime Community Bancshares, Inc.		236		6,997
Flywire Corp.*		391		6,893
Necessity Retail REIT, Inc.		946		6,887
Empire State Realty Trust, Inc. — Class A REIT		978		6,875
Banc of California, Inc.		389		6,854
Apartment Investment and Management Co. — Class A REIT*		1,060		6,784
Office Properties Income Trust REIT		339		6,763
German American Bancorp, Inc.		196		6,699
Compass, Inc. — Class A*		1,844		6,657
Preferred Bank/Los Angeles CA		97		6,598
Redwood Trust, Inc. REIT		851		6,561
Marcus & Millichap, Inc.		176		6,510
Enova International, Inc.*		225		6,484
Industrial Logistics Properties Trust REIT		460		6,477
Lakeland Bancorp, Inc.		441		6,447
James River Group Holdings Ltd.		260		6,443
NETSTREIT Corp. REIT		341		6,435
ConnectOne Bancorp, Inc.		263		6,430
iStar, Inc. REIT		469		6,430
KKR Real Estate Finance Trust, Inc. REIT		366		6,387
Premier Financial Corp.		251		6,363
QCR Holdings, Inc.		117		6,317
Nicolet Bankshares, Inc.*		87		6,294
Farmer Mac — Class C		64		6,250
Ready Capital Corp. REIT		524		6,246
UMH Properties, Inc. REIT		350		6,181
Broadmark Realty Capital, Inc. REIT		921		6,180
Origin Bancorp, Inc.		159		6,169
Goosehead Insurance, Inc. — Class A		135		6,165
Heritage Financial Corp.		245		6,164
Blucora, Inc.*		333		6,147
Redfin Corp.*		743		6,122
Armada Hoffler Properties, Inc. REIT		475		6,099
B Riley Financial, Inc.		144		6,084
Community Healthcare Trust, Inc. REIT		168		6,083
Service Properties Trust REIT		1,162		6,077
Washington Trust Bancorp, Inc.		123		5,950
Ellington Financial, Inc. REIT		402		5,897
RPT Realty REIT		591		5,810
eXp World Holdings, Inc.		485		5,708
Amerant Bancorp, Inc.		199		5,596
GEO Group, Inc. REIT*		838		5,531
Safehold, Inc. REIT		154		5,447
Summit Hotel Properties, Inc. REIT*		741		5,387
Columbia Financial, Inc.*		245		5,343
Bluerock Residential Growth REIT, Inc.		203		5,337
Univest Financial Corp.		206		5,241
Peoples Bancorp, Inc.		197		5,240
Lemonade, Inc.*,1		285		5,204
1st Source Corp.		114		5,176
Allegiance Bancshares, Inc.		137		5,173
United Fire Group, Inc.		151		5,169
ARMOUR Residential REIT, Inc.1		727		5,118
Gladstone Commercial Corp. REIT		271		5,106
BrightSpire Capital, Inc. REIT		674		5,089
Metropolitan Bank Holding Corp.*		73		5,068
Gladstone Land Corp. REIT		228		5,053
Horizon Bancorp, Inc.		285		4,965
WisdomTree Investments, Inc.		964		4,887
Kearny Financial Corp.		439		4,877
Global Medical REIT, Inc.		432		4,851
Universal Health Realty Income Trust REIT		91		4,842
Hanmi Financial Corp.		214		4,802
First Mid Bancshares, Inc.		132		4,708
International Money Express, Inc.*		230		4,708
Plymouth Industrial REIT, Inc.		267		4,683
Enact Holdings, Inc.		213		4,575
Camden National Corp.		102		4,493
Community Trust Bancorp, Inc.		111		4,489

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Farmland Partners, Inc. REIT		324	$	4,471
HarborOne Bancorp, Inc.		323		4,454
Heritage Commerce Corp.		416		4,447
Orion Office REIT, Inc.		404		4,428
CBL & Associates Properties, Inc. REIT		188		4,416
Cowen, Inc. — Class A		186		4,406
HomeStreet, Inc.		127		4,403
TPG RE Finance Trust, Inc. REIT		488		4,397
Flushing Financial Corp.		204		4,337
CrossFirst Bankshares, Inc.*		322		4,250
Brookfield Business Corp. — Class A		184		4,234
MBIA, Inc.*		340		4,199
Byline Bancorp, Inc.		174		4,141
Brightsphere Investment Group, Inc.		229		4,124
TrustCo Bank Corporation NY		133		4,102
Central Pacific Financial Corp.		191		4,097
Dynex Capital, Inc. REIT		257		4,091
Northfield Bancorp, Inc.		310		4,039
Old Second Bancorp, Inc.		300		4,014
Great Southern Bancorp, Inc.		68		3,982
First Bancshares, Inc.		139		3,975
Cambridge Bancorp		48		3,970
Saul Centers, Inc. REIT		84		3,957
City Office REIT, Inc.		302		3,911
Ares Commercial Real Estate Corp. REIT		317		3,877
Diamond Hill Investment Group, Inc.		22		3,820
Ambac Financial Group, Inc.*		324		3,677
Peapack-Gladstone Financial Corp.		123		3,653
Granite Point Mortgage Trust, Inc. REIT		378		3,618
Midland States Bancorp, Inc.		150		3,606
First Financial Corp.		81		3,604
Orchid Island Capital, Inc. REIT1		1,259		3,588
Whitestone REIT — Class B		331		3,558
Chatham Lodging Trust REIT*		339		3,543
SiriusPoint Ltd.*		652		3,534
Bank of Marin Bancorp		111		3,528
CatchMark Timber Trust, Inc. — Class A REIT		347		3,491
Bank First Corp.		46		3,487
Mercantile Bank Corp.		109		3,483
Invesco Mortgage Capital, Inc. REIT		236		3,465
CBTX, Inc.		130		3,457
HCI Group, Inc.		51		3,456
First Community Bankshares, Inc.		116		3,412
Urstadt Biddle Properties, Inc. — Class A REIT		210		3,402
Farmers National Banc Corp.		223		3,345
Alexander's, Inc. REIT		15		3,332
RE/MAX Holdings, Inc. — Class A		133		3,261
World Acceptance Corp.*		29		3,255
National Western Life Group, Inc. — Class A		16		3,243
LendingTree, Inc.*		74		3,243
Business First Bancshares, Inc.		150		3,196
Equity Bancshares, Inc. — Class A		109		3,178
RMR Group, Inc. — Class A		109		3,090
Arrow Financial Corp.		97		3,086
Diversified Healthcare Trust REIT		1,683		3,063
Republic Bancorp, Inc. — Class A		63		3,040
One Liberty Properties, Inc. REIT		116		3,014
MidWestOne Financial Group, Inc.		100		2,972
Franklin Street Properties Corp. REIT		699		2,915
AssetMark Financial Holdings, Inc.*		153		2,872
Farmers & Merchants Bancorp Incorporated/Archbold OH		86		2,854
Hingham Institution For Savings The		10		2,838
FRP Holdings, Inc.*		47		2,836
Capstar Financial Holdings, Inc.		144		2,825
Coastal Financial Corp.*		74		2,821
Victory Capital Holdings, Inc. — Class A		117		2,820
Financial Institutions, Inc.		108		2,810
West BanCorp, Inc.		115		2,799
Peoples Financial Services Corp.		50		2,792
First of Long Island Corp.		158		2,770
CNB Financial Corp.		114		2,758
Mid Penn Bancorp, Inc.		102		2,751
Independent Bank Corp.		142		2,738
Bar Harbor Bankshares		105		2,715
Metrocity Bankshares, Inc.		132		2,681
Capital City Bank Group, Inc.		96		2,677
EZCORP, Inc. — Class A*		354		2,659
SmartFinancial, Inc.		110		2,658
HomeTrust Bancshares, Inc.		104		2,600
Citizens & Northern Corp.		107		2,586
Douglas Elliman, Inc.		535		2,563
American National Bankshares, Inc.		74		2,561
Alerus Financial Corp.		107		2,548
Southern Missouri Bancorp, Inc.		56		2,535
Merchants Bancorp		111		2,516
CTO Realty Growth, Inc. REIT		41		2,506

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Waterstone Financial, Inc.		142	$	2,421
Universal Insurance Holdings, Inc.		185		2,411
Five Star Bancorp		90		2,378
First Internet Bancorp		64		2,356
Bridgewater Bancshares, Inc.*		146		2,356
Southern First Bancshares, Inc.*		54		2,354
Selectquote, Inc.*		946		2,346
Shore Bancshares, Inc.		126		2,331
Carter Bankshares, Inc.*		172		2,270
Indus Realty Trust, Inc. REIT		38		2,256
MVB Financial Corp.		72		2,240
Blue Foundry Bancorp*		186		2,230
Civista Bancshares, Inc.		104		2,211
Summit Financial Group, Inc.		79		2,195
RBB Bancorp		106		2,191
Cedar Realty Trust, Inc. REIT		76		2,188
Hersha Hospitality Trust REIT*		222		2,178
Primis Financial Corp.		157		2,140
Enterprise Bancorp, Inc.		66		2,125
Sierra Bancorp		97		2,108
Guaranty Bancshares, Inc.		58		2,102
First Bancorp, Inc.		69		2,079
Braemar Hotels & Resorts, Inc. REIT		484		2,076
GCM Grosvenor, Inc. — Class A		303		2,076
Regional Management Corp.		55		2,055
Oppenheimer Holdings, Inc. — Class A		62		2,048
Amalgamated Financial Corp.		100		1,978
Third Coast Bancshares, Inc.*		90		1,971
Perella Weinberg Partners		330		1,924
Baycom Corp.		92		1,903
Postal Realty Trust, Inc. — Class A REIT		125		1,863
Blue Ridge Bankshares, Inc.		121		1,854
Orrstown Financial Services, Inc.		76		1,837
John Marshall Bancorp, Inc.		81		1,826
Donegal Group, Inc. — Class A		107		1,824
BRT Apartments Corp. REIT		84		1,805
Tiptree, Inc. — Class A		169		1,795
ACNB Corp.		60		1,781
First Business Financial Services, Inc.		57		1,778
Home Bancorp, Inc.		52		1,775
Northeast Bank		48		1,753
Colony Bankcorp, Inc.		116		1,750
South Plains Financial, Inc.		72		1,738
BCB Bancorp, Inc.		102		1,737
Red River Bancshares, Inc.		32		1,731
AFC Gamma, Inc. REIT		112		1,717
PCSB Financial Corp.		88		1,680
Macatawa Bank Corp.		186		1,644
Esquire Financial Holdings, Inc.		49		1,632
Oportun Financial Corp.*		197		1,629
Seritage Growth Properties REIT*		311		1,620
eHealth, Inc.*		172		1,605
Provident Bancorp, Inc.		102		1,601
FVCBankcorp, Inc.*		85		1,601
Hippo Holdings, Inc.*		1,801		1,582
Sculptor Capital Management, Inc.		186		1,553
First Bank/Hamilton NJ		110		1,538
PCB Bancorp		82		1,532
First Western Financial, Inc.*		56		1,523
Parke Bancorp, Inc.		72		1,509
Ashford Hospitality Trust, Inc. REIT*		243		1,453
NerdWallet, Inc. — Class A*		182		1,443
Greenlight Capital Re Ltd. — Class A*		185		1,430
Investors Title Co.		9		1,412
Manning & Napier, Inc. — Class A		112		1,397
Capital Bancorp, Inc.		64		1,389
Luther Burbank Corp.		106		1,383
Stratus Properties, Inc.*		42		1,353
Unity Bancorp, Inc.		50		1,324
Republic First Bancorp, Inc.*		342		1,303
HBT Financial, Inc.		72		1,287
Bankwell Financial Group, Inc.		40		1,242
Root, Inc. — Class A*		989		1,177
Silvercrest Asset Management Group, Inc. — Class A		71		1,165
Nexpoint Real Estate Finance, Inc. REIT		56		1,135
Angel Oak Mortgage, Inc. REIT		85		1,102
Greene County Bancorp, Inc.		24		1,087
Atlanticus Holdings Corp.*		30		1,055
Offerpad Solutions, Inc.*		483		1,053
Consumer Portfolio Services, Inc.*		102		1,045
First Guaranty Bancshares, Inc.		43		1,045
Doma Holdings, Inc.*		969		998
Trean Insurance Group, Inc.*		160		997
NI Holdings, Inc.*		60		986
Crawford & Co. — Class A		119		928
USCB Financial Holdings, Inc.*		76		877
Curo Group Holdings Corp.		155		857
Legacy Housing Corp.*		62		809
Pioneer Bancorp, Inc.*		82		804
Pzena Investment Management, Inc. — Class A		118		778
Chicago Atlantic Real Estate Finance, Inc.		49		738

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
GAMCO Investors, Inc. — Class A		34	$	711
Sterling Bancorp, Inc.*		121		690
Velocity Financial, Inc.*		62		681
Clipper Realty, Inc. REIT		85		656
Sunlight Financial Holdings, Inc.*		172		507
SWK Holdings Corp.*		25		437
Finance of America Companies, Inc. — Class A*		275		432
Associated Capital Group, Inc. — Class A		12		430
Transcontinental Realty Investors, Inc.*		9		358
OppFi, Inc.*		95		313
Cryptyde, Inc.*		131		266
Home Point Capital, Inc.1		57		223
American Realty Investors, Inc.*		11		156
Applied Blockchain, Inc.*		57		60
Total Financial				3,901,566
Consumer, Non-cyclical - 19.4%
Biohaven Pharmaceutical Holding Company Ltd.*		442		64,260
Shockwave Medical, Inc.*		252		48,175
Halozyme Therapeutics, Inc.*		961		42,284
Intra-Cellular Therapies, Inc.*		648		36,988
HealthEquity, Inc.*		587		36,036
Omnicell, Inc.*		311		35,376
Inspire Medical Systems, Inc.*		192		35,073
AMN Healthcare Services, Inc.*		316		34,668
Alkermes plc*		1,154		34,378
LHC Group, Inc.*		211		32,861
Sanderson Farms, Inc.		151		32,545
ASGN, Inc.*		355		32,039
Lantheus Holdings, Inc.*		484		31,958
Medpace Holdings, Inc.*		195		29,186
Apellis Pharmaceuticals, Inc.*		643		29,076
Option Care Health, Inc.*		1,017		28,262
Ensign Group, Inc.		381		27,992
Intellia Therapeutics, Inc.*		534		27,640
Helen of Troy Ltd.*		169		27,447
Insperity, Inc.		257		25,656
Arrowhead Pharmaceuticals, Inc.*		728		25,633
Celsius Holdings, Inc.*		387		25,255
Turning Point Therapeutics, Inc.*		324		24,381
Simply Good Foods Co.*		638		24,097
STAAR Surgical Co.*		339		24,045
LivaNova plc*		380		23,739
Triton International Ltd.		450		23,693
Karuna Therapeutics, Inc.*		187		23,657
Haemonetics Corp.*		360		23,465
Inari Medical, Inc.*		341		23,185
Cytokinetics, Inc.*		581		22,827
iRhythm Technologies, Inc.*		211		22,794
Korn Ferry		380		22,048
API Group Corp.*		1,464		21,916
Merit Medical Systems, Inc.*		396		21,491
Blueprint Medicines Corp.*		423		21,366
Alarm.com Holdings, Inc.*		340		21,032
Amicus Therapeutics, Inc.*		1,951		20,954
Prestige Consumer Healthcare, Inc.*		356		20,933
Hostess Brands, Inc.*		976		20,701
BellRing Brands, Inc.*		828		20,609
ABM Industries, Inc.		474		20,581
TriNet Group, Inc.*		265		20,569
Denali Therapeutics, Inc.*		697		20,513
R1 RCM, Inc.*		956		20,038
Brink's Co.		329		19,974
PTC Therapeutics, Inc.*		497		19,910
Sprouts Farmers Market, Inc.*		777		19,674
WD-40 Co.		97		19,532
CONMED Corp.		200		19,152
Axonics, Inc.*		332		18,814
Patterson Companies, Inc.		617		18,695
Coca-Cola Consolidated, Inc.		33		18,609
Pacira BioSciences, Inc.*		318		18,539
Neogen Corp.*		766		18,453
NuVasive, Inc.*		371		18,238
Select Medical Holdings Corp.		764		18,046
Lancaster Colony Corp.		138		17,772
Beam Therapeutics, Inc.*		450		17,419
Insmed, Inc.*		844		16,644
Integer Holdings Corp.*		234		16,534
Chegg, Inc.*		880		16,526
Owens & Minor, Inc.		522		16,417
Herc Holdings, Inc.		182		16,407
Alight, Inc. — Class A*		2,403		16,220
United Natural Foods, Inc.*		411		16,193
EVERTEC, Inc.		425		15,674
AbCellera Biologics, Inc.*		1,465		15,602
Covetrus, Inc.*		749		15,542
Progyny, Inc.*		529		15,367
Graham Holdings Co. — Class B		27		15,305
StoneCo Ltd. — Class A*		1,961		15,100
J & J Snack Foods Corp.		108		15,083
TreeHouse Foods, Inc.*		360		15,055
Primo Water Corp.		1,115		14,919
Glaukos Corp.*		324		14,716
Multiplan Corp.*		2,674		14,680
Fate Therapeutics, Inc.*		589		14,595
Arvinas, Inc.*		345		14,521
John Wiley & Sons, Inc. — Class A		304		14,519
Medifast, Inc.		80		14,441
Corcept Therapeutics, Inc.*		603		14,339
Herbalife Nutrition Ltd.*		701		14,335
Global Blood Therapeutics, Inc.*		441		14,090
CBIZ, Inc.*		348		13,906
BioCryst Pharmaceuticals, Inc.*		1,312		13,881
Twist Bioscience Corp.*		397		13,879
Sabre Corp.*		2,308		13,456

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Cal-Maine Foods, Inc.		269	$	13,291
AtriCure, Inc.*		323		13,198
Edgewell Personal Care Co.		381		13,152
Vir Biotechnology, Inc.*		513		13,066
MEDNAX, Inc.*		608		12,774
Hain Celestial Group, Inc.*		532		12,630
ICF International, Inc.		131		12,445
LiveRamp Holdings, Inc.*		475		12,260
ACADIA Pharmaceuticals, Inc.*		851		11,991
Sage Therapeutics, Inc.*		369		11,919
Iovance Biotherapeutics, Inc.*		1,067		11,780
Stride, Inc.*		287		11,707
Central Garden & Pet Co. — Class A*		289		11,563
Strategic Education, Inc.		163		11,505
Adtalem Global Education, Inc.*		318		11,438
B&G Foods, Inc.1		481		11,438
Coursera, Inc.*		798		11,316
Ironwood Pharmaceuticals, Inc. — Class A*		967		11,150
Xencor, Inc.*		406		11,112
ChemoCentryx, Inc.*		448		11,101
Emergent BioSolutions, Inc.*		356		11,050
Nevro Corp.*		247		10,826
Vector Group Ltd.		1,017		10,679
Dynavax Technologies Corp.*		837		10,538
elf Beauty, Inc.*		343		10,523
Travere Therapeutics, Inc.*		431		10,443
Beyond Meat, Inc.*,1		434		10,390
Universal Corp.		171		10,346
Embecta Corp.*		406		10,280
Myriad Genetics, Inc.*		563		10,230
Cerevel Therapeutics Holdings, Inc.*		385		10,179
Monro, Inc.		236		10,120
Veracyte, Inc.*		507		10,089
US Physical Therapy, Inc.		92		10,046
Supernus Pharmaceuticals, Inc.*		347		10,035
MGP Ingredients, Inc.		99		9,909
Krystal Biotech, Inc.*		148		9,718
Huron Consulting Group, Inc.*		149		9,684
Ligand Pharmaceuticals, Inc. — Class B*		107		9,547
Aurinia Pharmaceuticals, Inc.*		949		9,537
CoreCivic, Inc.*		854		9,488
Amphastar Pharmaceuticals, Inc.*		271		9,428
Chefs' Warehouse, Inc.*		241		9,372
Laureate Education, Inc. — Class A		802		9,279
Inter Parfums, Inc.		127		9,279
CorVel Corp.*		63		9,278
Meridian Bioscience, Inc.*		304		9,248
Arcus Biosciences, Inc.*		364		9,224
AdaptHealth Corp.*		511		9,218
Avanos Medical, Inc.*		333		9,104
Beauty Health Co.*		706		9,079
Addus HomeCare Corp.*		109		9,077
Harmony Biosciences Holdings, Inc.*		186		9,071
Relay Therapeutics, Inc.*		541		9,062
Textainer Group Holdings Ltd.		329		9,018
Silk Road Medical, Inc.*		245		8,916
Kforce, Inc.		144		8,833
Ingles Markets, Inc. — Class A		101		8,762
Celldex Therapeutics, Inc.*		324		8,735
Weis Markets, Inc.		117		8,721
REVOLUTION Medicines, Inc.*		446		8,693
Cytek Biosciences, Inc.*		808		8,670
Green Dot Corp. — Class A*		344		8,638
Agios Pharmaceuticals, Inc.*		386		8,558
Vericel Corp.*		334		8,410
ZipRecruiter, Inc. — Class A*		565		8,373
Fulgent Genetics, Inc.*		153		8,343
Kura Oncology, Inc.*		450		8,249
National Beverage Corp.		167		8,173
Surgery Partners, Inc.*		281		8,127
Vaxcyte, Inc.*		373		8,116
Natus Medical, Inc.*		244		7,996
Lyell Immunopharma, Inc.*,1		1,224		7,981
Repay Holdings Corp.*		620		7,967
IVERIC bio, Inc.*		827		7,956
Evo Payments, Inc. — Class A*		335		7,879
Axsome Therapeutics, Inc.*		204		7,813
Recursion Pharmaceuticals, Inc. — Class A*		957		7,790
CareDx, Inc.*		361		7,754
Zentalis Pharmaceuticals, Inc.*		272		7,643
SpartanNash Co.		253		7,633
Cassava Sciences, Inc.*		271		7,620
Legalzoom.com, Inc.*		693		7,616
ModivCare, Inc.*		90		7,605
Andersons, Inc.		227		7,489
Rent-A-Center, Inc.		376		7,313
OPKO Health, Inc.*		2,857		7,228
NeoGenomics, Inc.*		879		7,164
Pacific Biosciences of California, Inc.*		1,598		7,063
Syndax Pharmaceuticals, Inc.*		366		7,042
REGENXBIO, Inc.*		285		7,039
American Well Corp. — Class A*		1,623		7,011
Crinetics Pharmaceuticals, Inc.*		372		6,938
Krispy Kreme, Inc.		508		6,909
Revance Therapeutics, Inc.*		496		6,855
ImmunoGen, Inc.*		1,519		6,835
Prothena Corporation plc*		251		6,815
Bridgebio Pharma, Inc.*		740		6,719
MannKind Corp.*		1,761		6,709
MoneyGram International, Inc.*		664		6,640

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Deluxe Corp.		306	$	6,631
Innoviva, Inc.*		448		6,612
Avid Bioservices, Inc.*		432		6,592
Enanta Pharmaceuticals, Inc.*		139		6,571
FibroGen, Inc.*		619		6,537
Heska Corp.*		69		6,521
Cerus Corp.*		1,221		6,459
Madrigal Pharmaceuticals, Inc.*		90		6,442
Allogene Therapeutics, Inc.*		564		6,430
Utz Brands, Inc.		465		6,426
Adaptive Biotechnologies Corp.*		789		6,383
Fresh Del Monte Produce, Inc.		216		6,378
PROG Holdings, Inc.*		383		6,319
National Healthcare Corp.		90		6,291
Atrion Corp.		10		6,289
LeMaitre Vascular, Inc.		138		6,286
SpringWorks Therapeutics, Inc.*		246		6,056
Payoneer Global, Inc.*		1,532		6,005
RadNet, Inc.*		346		5,979
TransMedics Group, Inc.*		190		5,975
Brookdale Senior Living, Inc. — Class A*		1,316		5,975
Reata Pharmaceuticals, Inc. — Class A*		196		5,956
Aclaris Therapeutics, Inc.*		424		5,919
PROCEPT BioRobotics Corp.*		181		5,917
Prometheus Biosciences, Inc.*		207		5,844
Varex Imaging Corp.*		273		5,839
Editas Medicine, Inc.*		489		5,785
Clover Health Investments Corp.*		2,700		5,778
USANA Health Sciences, Inc.*		79		5,716
Perdoceo Education Corp.*		483		5,690
2U, Inc.*		528		5,528
Duckhorn Portfolio, Inc.*		262		5,518
Sorrento Therapeutics, Inc.*		2,690		5,407
Chinook Therapeutics, Inc.*		309		5,404
Cross Country Healthcare, Inc.*		259		5,395
SunOpta, Inc.*		691		5,376
Quanex Building Products Corp.		234		5,324
Arcutis Biotherapeutics, Inc.*		248		5,285
Kymera Therapeutics, Inc.*		268		5,277
First Advantage Corp.*		415		5,258
Udemy, Inc.*		511		5,217
Artivion, Inc.*		276		5,211
Veru, Inc.*		460		5,198
Paragon 28, Inc.*		326		5,174
AngioDynamics, Inc.*		264		5,108
Calavo Growers, Inc.		122		5,090
Atara Biotherapeutics, Inc.*		650		5,063
SP Plus Corp.*		164		5,038
Avidity Biosciences, Inc.*		346		5,027
Cano Health, Inc.*		1,146		5,019
Kelly Services, Inc. — Class A		249		4,938
Nektar Therapeutics*		1,284		4,879
Cimpress plc*		125		4,862
Anavex Life Sciences Corp.*		483		4,835
SomaLogic, Inc.*		1,059		4,787
Catalyst Pharmaceuticals, Inc.*		678		4,753
Paysafe Ltd.*		2,393		4,666
Resources Connection, Inc.		225		4,583
John B Sanfilippo & Son, Inc.		63		4,567
Remitly Global, Inc.*		595		4,558
CRA International, Inc.		51		4,555
EQRx, Inc.*		968		4,540
Heidrick & Struggles International, Inc.		139		4,498
Alector, Inc.*		440		4,470
Cutera, Inc.*		118		4,425
OrthoPediatrics Corp.*		102		4,401
ACCO Brands Corp.		670		4,375
Vanda Pharmaceuticals, Inc.*		393		4,284
Rocket Pharmaceuticals, Inc.*		310		4,266
Collegium Pharmaceutical, Inc.*		240		4,253
Deciphera Pharmaceuticals, Inc.*		319		4,195
NanoString Technologies, Inc.*		329		4,178
Franklin Covey Co.*		90		4,156
TrueBlue, Inc.*		232		4,153
Theravance Biopharma, Inc.*		456		4,131
DocGo, Inc.*		570		4,070
Paya Holdings, Inc.*		619		4,067
Sana Biotechnology, Inc.*		630		4,051
Mission Produce, Inc.*		284		4,047
Cardiovascular Systems, Inc.*		281		4,035
TG Therapeutics, Inc.*		943		4,008
Verve Therapeutics, Inc.*		262		4,003
Agiliti, Inc.*		194		3,979
Nurix Therapeutics, Inc.*		314		3,978
Viad Corp.*		144		3,976
Invitae Corp.*,1		1,629		3,975
Morphic Holding, Inc.*		182		3,949
Inogen, Inc.*		163		3,941
Geron Corp.*		2,542		3,940
Y-mAbs Therapeutics, Inc.*		260		3,934
I3 Verticals, Inc. — Class A*		157		3,928
CTI BioPharma Corp.*		655		3,910
National Research Corp. — Class A		102		3,905
Quanterix Corp.*		240		3,886
SIGA Technologies, Inc.		334		3,868
Hanger, Inc.*		268		3,838
Atea Pharmaceuticals, Inc.*		540		3,834
Forrester Research, Inc.*		80		3,827
Marathon Digital Holdings, Inc.*,1		715		3,818
Tootsie Roll Industries, Inc.		108		3,818
BrightView Holdings, Inc.*		315		3,780

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Arlo Technologies, Inc.*		602	$	3,775
Coherus Biosciences, Inc.*		521		3,772
Carriage Services, Inc. — Class A		95		3,767
Gossamer Bio, Inc.*		446		3,733
Replimune Group, Inc.*		213		3,723
PMV Pharmaceuticals, Inc.*		261		3,719
Barrett Business Services, Inc.		51		3,716
Castle Biosciences, Inc.*		169		3,710
Agenus, Inc.*		1,911		3,707
Relmada Therapeutics, Inc.*		194		3,684
Hackett Group, Inc.		192		3,642
Ennis, Inc.		180		3,641
Surmodics, Inc.*		96		3,574
Point Biopharma Global, Inc.*		524		3,568
NGM Biopharmaceuticals, Inc.*		278		3,564
Pulmonx Corp.*		242		3,562
Oscar Health, Inc. — Class A*		836		3,553
Sangamo Therapeutics, Inc.*		848		3,511
2seventy bio, Inc.*		265		3,498
Ideaya Biosciences, Inc.*		252		3,478
Riot Blockchain, Inc.*,1		829		3,474
iTeos Therapeutics, Inc.*		167		3,440
Ocugen, Inc.*,1		1,515		3,439
Radius Health, Inc.*		331		3,432
Treace Medical Concepts, Inc.*		236		3,384
Design Therapeutics, Inc.*		240		3,360
RAPT Therapeutics, Inc.*		184		3,358
Nano-X Imaging Ltd.*		297		3,356
Senseonics Holdings, Inc.*,1		3,241		3,338
Community Health Systems, Inc.*		885		3,319
Benson Hill, Inc.*		1,211		3,318
BioLife Solutions, Inc.*		239		3,301
Keros Therapeutics, Inc.*		119		3,288
Eagle Pharmaceuticals, Inc.*		74		3,288
Seer, Inc.*		366		3,276
Alphatec Holdings, Inc.*		499		3,263
PetIQ, Inc.*		194		3,257
Orthofix Medical, Inc.*		137		3,225
Cass Information Systems, Inc.		95		3,211
SI-BONE, Inc.*		237		3,128
Aaron's Company, Inc.		215		3,128
DICE Therapeutics, Inc.*		201		3,119
Vaxart, Inc.*,1		877		3,069
Accolade, Inc.*		413		3,056
23andMe Holding Co. — Class A*		1,216		3,016
Central Garden & Pet Co.*		70		2,969
Turning Point Brands, Inc.		109		2,957
Day One Biopharmaceuticals, Inc.*		165		2,953
Adicet Bio, Inc.*		201		2,935
MaxCyte, Inc.*		616		2,914
Evolus, Inc.*		251		2,912
AnaptysBio, Inc.*		143		2,903
Transcat, Inc.*		51		2,897
Cara Therapeutics, Inc.*		317		2,894
Butterfly Network, Inc.*		940		2,886
Mersana Therapeutics, Inc.*		620		2,864
Bionano Genomics, Inc.*		2,066		2,851
Cogent Biosciences, Inc.*		316		2,850
LifeStance Health Group, Inc.*		511		2,841
Esperion Therapeutics, Inc.*		446		2,837
Nkarta, Inc.*		230		2,834
Affimed N.V.*		1,007		2,789
ViewRay, Inc.*		1,048		2,777
MiMedx Group, Inc.*		798		2,769
Phibro Animal Health Corp. — Class A		144		2,755
Vectrus, Inc.*		82		2,744
Sterling Check Corp.*		168		2,740
Kezar Life Sciences, Inc.*		329		2,721
Cullinan Oncology, Inc.*		211		2,705
Inovio Pharmaceuticals, Inc.*		1,555		2,690
ANI Pharmaceuticals, Inc.*		90		2,670
Nuvation Bio, Inc.*		824		2,670
European Wax Center, Inc. — Class A		150		2,643
Kinnate Biopharma, Inc.*		207		2,610
ADMA Biologics, Inc.*		1,315		2,604
Arcturus Therapeutics Holdings, Inc.*		164		2,581
Protagonist Therapeutics, Inc.*		326		2,579
Erasca, Inc.*		459		2,557
Imago Biosciences, Inc.*		186		2,490
Aerie Pharmaceuticals, Inc.*		332		2,490
Bright Health Group, Inc.*		1,366		2,486
WW International, Inc.*		384		2,454
Cue Health, Inc.*		763		2,442
22nd Century Group, Inc.*		1,145		2,439
Karyopharm Therapeutics, Inc.*		539		2,431
Albireo Pharma, Inc.*		122		2,423
Organogenesis Holdings, Inc.*		495		2,416
Intercept Pharmaceuticals, Inc.*		173		2,389
Pennant Group, Inc.*		185		2,370
Custom Truck One Source, Inc.*		422		2,363
Zimvie, Inc.*		147		2,353
Axogen, Inc.*		287		2,351
Inhibrx, Inc.*		207		2,349
Vivint Smart Home, Inc.*		672		2,339
Seneca Foods Corp. — Class A*		42		2,333
Anika Therapeutics, Inc.*		104		2,321
Amneal Pharmaceuticals, Inc.*		729		2,318
Core Scientific, Inc.*		1,548		2,307
Tricida, Inc.*		236		2,285
Tejon Ranch Co.*		147		2,281
Instil Bio, Inc.*		492		2,273
Willdan Group, Inc.*		82		2,262

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
C4 Therapeutics, Inc.*		298	$	2,247
Ocular Therapeutix, Inc.*		545		2,191
Tattooed Chef, Inc.*		346		2,180
Mirum Pharmaceuticals, Inc.*		112		2,180
Generation Bio Co.*		329		2,158
ImmunityBio, Inc.*,1		579		2,154
American Public Education, Inc.*		133		2,149
Utah Medical Products, Inc.		25		2,147
Kiniksa Pharmaceuticals Ltd. — Class A*		220		2,132
Viridian Therapeutics, Inc.*		183		2,117
Stoke Therapeutics, Inc.*		159		2,100
Bluebird Bio, Inc.*		506		2,095
Caribou Biosciences, Inc.*		382		2,074
Arbutus Biopharma Corp.*,1		764		2,070
RxSight, Inc.*		146		2,056
Heron Therapeutics, Inc.*		728		2,031
Berkeley Lights, Inc.*		395		1,963
Monte Rosa Therapeutics, Inc.*		203		1,963
Ventyx Biosciences, Inc.*		159		1,945
Foghorn Therapeutics, Inc.*		142		1,931
Vita Coco Company, Inc.*		197		1,928
Akero Therapeutics, Inc.*		198		1,871
Tarsus Pharmaceuticals, Inc.*		128		1,869
Landec Corp.*		186		1,854
Vital Farms, Inc.*		211		1,846
Aura Biosciences, Inc.*		130		1,842
Eiger BioPharmaceuticals, Inc.*		290		1,827
Kodiak Sciences, Inc.*		236		1,803
Vintage Wine Estates, Inc.*		229		1,800
Distribution Solutions Group, Inc.*		35		1,799
Bioxcel Therapeutics, Inc.*		136		1,795
CinCor Pharma, Inc.*		95		1,790
Whole Earth Brands, Inc.*		288		1,786
AppHarvest, Inc.*		506		1,766
Forma Therapeutics Holdings, Inc.*		256		1,764
iRadimed Corp.		51		1,731
KalVista Pharmaceuticals, Inc.*		174		1,712
Seres Therapeutics, Inc.*		499		1,712
Information Services Group, Inc.		251		1,697
ShotSpotter, Inc.*		63		1,695
Edgewise Therapeutics, Inc.*		210		1,672
Universal Technical Institute, Inc.*		229		1,633
Nuvalent, Inc. — Class A*		120		1,627
Sutro Biopharma, Inc.*		311		1,620
MeiraGTx Holdings plc*		214		1,620
Provention Bio, Inc.*		396		1,584
Alico, Inc.		44		1,568
Amylyx Pharmaceuticals, Inc.*		81		1,560
Dyne Therapeutics, Inc.*		224		1,539
CareMax, Inc.*		422		1,532
Joint Corp.*		100		1,531
Bioventus, Inc. — Class A*		224		1,528
Singular Genomics Systems, Inc.*		395		1,509
Quantum-Si, Inc.*		646		1,499
Tango Therapeutics, Inc.*		330		1,495
BRC, Inc. — Class A*		182		1,485
4D Molecular Therapeutics, Inc.*		212		1,480
Janux Therapeutics, Inc.*		121		1,477
Liquidia Corp.*		338		1,474
EyePoint Pharmaceuticals, Inc.*		185		1,456
Xeris Biopharma Holdings, Inc.*		937		1,443
Akoya Biosciences, Inc.*		112		1,439
SeaSpine Holdings Corp.*		251		1,418
Sema4 Holdings Corp.*		1,119		1,410
OraSure Technologies, Inc.*		517		1,401
Rigel Pharmaceuticals, Inc.*		1,221		1,380
PFSweb, Inc.*		117		1,376
Phathom Pharmaceuticals, Inc.*		163		1,376
Village Super Market, Inc. — Class A		60		1,368
Moneylion, Inc.*		1,023		1,350
Honest Company, Inc.*		460		1,343
HF Foods Group, Inc.*		256		1,336
Vera Therapeutics, Inc.*		98		1,334
Alta Equipment Group, Inc.*		148		1,328
IGM Biosciences, Inc.*		71		1,280
Zynex, Inc.		160		1,277
Arcellx, Inc.*		70		1,266
MacroGenics, Inc.*		427		1,260
Aadi Bioscience, Inc.*		102		1,257
Chimerix, Inc.*		596		1,240
Absci Corp.*		373		1,238
ALX Oncology Holdings, Inc.*		152		1,230
VistaGen Therapeutics, Inc.*		1,378		1,213
Adagio Therapeutics, Inc.*,1		364		1,194
Century Therapeutics, Inc.*		142		1,193
Fulcrum Therapeutics, Inc.*		242		1,186
Inotiv, Inc.*		123		1,181
Vicarious Surgical, Inc.*,1		386		1,135
Tenaya Therapeutics, Inc.*		198		1,115
Immunovant, Inc.*		283		1,104
VBI Vaccines, Inc.*		1,364		1,103
Natural Grocers by Vitamin Cottage, Inc.		66		1,053
Kronos Bio, Inc.*		288		1,048
Spire Global, Inc.*		885		1,027
Nature's Sunshine Products, Inc.*		96		1,024
Rent the Runway, Inc. — Class A*		331		1,016
Aerovate Therapeutics, Inc.*		65		1,016
HilleVax, Inc.*		92		1,006
Tactile Systems Technology, Inc.*		137		1,000
Lexicon Pharmaceuticals, Inc.*		515		958
Precigen, Inc.*		714		957

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Alpine Immune Sciences, Inc.*		111	$	945
Nautilus Biotechnology, Inc.*		337		907
Jounce Therapeutics, Inc.*		299		906
Icosavax, Inc.*		158		905
Beachbody Company, Inc.*		741		889
Science 37 Holdings, Inc.*		441		886
Allovir, Inc.*		220		858
Outlook Therapeutics, Inc.*		838		855
Rallybio Corp.*		113		853
Bakkt Holdings, Inc.*		402		844
Endo International plc*		1,658		772
Babylon Holdings Ltd. — Class A*		771		754
ATI Physical Therapy, Inc.*		529		746
Athira Pharma, Inc.*		241		735
Talaris Therapeutics, Inc.*		159		717
Aveanna Healthcare Holdings, Inc.*		315		712
Quad/Graphics, Inc.*		246		676
Oncology Institute, Inc.*		133		673
P3 Health Partners, Inc.*		180		670
Tyra Biosciences, Inc.*		93		665
Theseus Pharmaceuticals, Inc.*		120		664
StoneMor, Inc.*		194		663
Praxis Precision Medicines, Inc.*		268		657
Pardes Biosciences, Inc.*		200		614
PepGen, Inc.*		60		596
Innovage Holding Corp.*		136		596
Bird Global, Inc. — Class A*		1,213		529
AirSculpt Technologies, Inc.*		88		522
Thorne HealthTech, Inc.*		97		469
MarketWise, Inc.*		121		436
Local Bounti Corp.*		133		423
Priority Technology Holdings, Inc.*		127		419
Humacyte, Inc.*		125		401
Cipher Mining, Inc.*		276		378
Celularity, Inc.*		110		374
Alpha Teknova, Inc.*		44		370
Redbox Entertainment, Inc.*		46		340
CompoSecure, Inc.*		55		286
Enochian Biosciences, Inc.*		140		270
AN2 Therapeutics, Inc.*		33		256
Greenidge Generation Holdings, Inc.*		91		231
GreenLight Biosciences Holdings PBC*		100		221
Owlet, Inc.*		117		199
Wejo Group Ltd.*		162		193
Boxed, Inc.*		82		152
Leafly Holdings, Inc.*		32		144
Gelesis Holdings, Inc.*		70		109
Tenon Medical, Inc.*		23		52
Total Consumer, Non-cyclical				3,878,631
Industrial - 10.5%
Chart Industries, Inc.*		260		43,519
RBC Bearings, Inc.*		202		37,360
EMCOR Group, Inc.		359		36,963
Saia, Inc.*		188		35,344
Exponent, Inc.		365		33,387
Simpson Manufacturing Company, Inc.		307		30,887
Novanta, Inc.*		251		30,439
UFP Industries, Inc.		431		29,368
Evoqua Water Technologies Corp.*		833		27,081
Applied Industrial Technologies, Inc.		271		26,062
Casella Waste Systems, Inc. — Class A*		353		25,656
Atkore International Group, Inc.*		304		25,235
John Bean Technologies Corp.		224		24,734
Fluor Corp.*		1,007		24,510
Zurn Water Solutions Corp.		879		23,944
Franklin Electric Company, Inc.		326		23,883
Watts Water Technologies, Inc. — Class A		194		23,831
GATX Corp.		251		23,634
Aerojet Rocketdyne Holdings, Inc.*		562		22,817
Welbilt, Inc.*		931		22,167
Fabrinet*		262		21,248
Mueller Industries, Inc.		396		21,103
Hillenbrand, Inc.		514		21,053
Comfort Systems USA, Inc.		251		20,871
Matson, Inc.		284		20,698
Summit Materials, Inc. — Class A*		839		19,540
Advanced Energy Industries, Inc.		266		19,413
Bloom Energy Corp. — Class A*		1,152		19,008
Dycom Industries, Inc.*		204		18,980
Werner Enterprises, Inc.		460		17,728
Albany International Corp. — Class A		224		17,649
Forward Air Corp.		190		17,472
Sanmina Corp.*		425		17,310
EnerSys		293		17,275
AAON, Inc.		311		17,030
Hub Group, Inc. — Class A*		238		16,884
Cactus, Inc. — Class A		417		16,793
Badger Meter, Inc.		207		16,744
Vishay Intertechnology, Inc.		936		16,680
Boise Cascade Co.		280		16,657
Belden, Inc.		311		16,567
SPX Corp.*		313		16,539
Golar LNG Ltd.*		715		16,266
Altra Industrial Motion Corp.		461		16,250
Moog, Inc. — Class A		203		16,116
Arcosa, Inc.		343		15,926
Itron, Inc.*		319		15,768
Brady Corp. — Class A		332		15,684
O-I Glass, Inc.*		1,101		15,414
Helios Technologies, Inc.		231		15,304
Plexus Corp.*		194		15,229
Federal Signal Corp.		423		15,059

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Kadant, Inc.		82	$	14,953
Trinity Industries, Inc.		591		14,314
Frontdoor, Inc.*		586		14,111
Encore Wire Corp.		135		14,029
Kennametal, Inc.		585		13,589
AeroVironment, Inc.*		165		13,563
Energizer Holdings, Inc.		472		13,381
Terex Corp.		482		13,192
Mueller Water Products, Inc. — Class A		1,104		12,950
ESCO Technologies, Inc.		183		12,512
Masonite International Corp.*		160		12,293
Atlas Air Worldwide Holdings, Inc.*		198		12,218
ArcBest Corp.		173		12,174
Kratos Defense & Security Solutions, Inc.*		875		12,145
Scorpio Tankers, Inc.		351		12,113
EnPro Industries, Inc.		147		12,044
Air Transport Services Group, Inc.*		418		12,009
Greif, Inc. — Class A		183		11,416
NV5 Global, Inc.*		96		11,207
Knowles Corp.*		634		10,987
Cornerstone Building Brands, Inc.*		448		10,971
CSW Industrials, Inc.		106		10,921
Barnes Group, Inc.		346		10,774
Materion Corp.		144		10,617
MYR Group, Inc.*		118		10,399
Lindsay Corp.		78		10,360
Golden Ocean Group Ltd.		869		10,115
AAR Corp.*		239		10,000
Worthington Industries, Inc.		225		9,923
GrafTech International Ltd.		1,391		9,834
OSI Systems, Inc.*		115		9,826
CryoPort, Inc.*		315		9,759
Granite Construction, Inc.		322		9,383
Proto Labs, Inc.*		195		9,329
Griffon Corp.		326		9,138
Gibraltar Industries, Inc.*		233		9,029
TTM Technologies, Inc.*		717		8,963
JELD-WEN Holding, Inc.*		610		8,900
Joby Aviation, Inc.*		1,777		8,725
Vicor Corp.*		156		8,538
Alamo Group, Inc.		72		8,383
TriMas Corp.		300		8,307
Hillman Solutions Corp.*		952		8,225
Enerpac Tool Group Corp.		431		8,198
Primoris Services Corp.		376		8,182
Xometry, Inc. — Class A*		239		8,109
Greenbrier Companies, Inc.		225		8,098
Frontline Ltd.*		882		7,814
Sturm Ruger & Company, Inc.		122		7,765
Tennant Co.		131		7,762
SFL Corporation Ltd.		813		7,715
Energy Recovery, Inc.*		395		7,671
CTS Corp.		224		7,627
International Seaways, Inc.		349		7,399
Mesa Laboratories, Inc.		36		7,342
Standex International Corp.		85		7,206
AZZ, Inc.		174		7,103
Marten Transport Ltd.		417		7,014
PGT Innovations, Inc.*		417		6,939
Enovix Corp.*		770		6,861
Astec Industries, Inc.		162		6,606
Montrose Environmental Group, Inc.*		194		6,549
Li-Cycle Holdings Corp.*		936		6,440
Kaman Corp.		199		6,219
Matthews International Corp. — Class A		216		6,193
Apogee Enterprises, Inc.		157		6,158
TimkenSteel Corp.*		329		6,156
DHT Holdings, Inc.		993		6,087
Great Lakes Dredge & Dock Corp.*		462		6,057
Triumph Group, Inc.*		453		6,020
Construction Partners, Inc. — Class A*		283		5,926
Myers Industries, Inc.		257		5,842
Rocket Lab USA, Inc.*		1,509		5,719
Columbus McKinnon Corp.		199		5,646
Mirion Technologies, Inc.*		969		5,581
PureCycle Technologies, Inc.*		752		5,580
Benchmark Electronics, Inc.		247		5,572
FLEX LNG Ltd.		202		5,533
American Woodmark Corp.*		117		5,266
Janus International Group, Inc.*		578		5,219
Ichor Holdings Ltd.*		199		5,170
GoPro, Inc. — Class A*		926		5,121
Genco Shipping & Trading Ltd.		260		5,023
Eagle Bulk Shipping, Inc.		95		4,929
Costamare, Inc.		381		4,610
Heartland Express, Inc.		331		4,604
Gorman-Rupp Co.		161		4,556
Sterling Infrastructure, Inc.*		207		4,537
MicroVision, Inc.*,1		1,172		4,500
Insteel Industries, Inc.		132		4,445
Blink Charging Co.*,1		262		4,331
Napco Security Technologies, Inc.*		208		4,283
Smith & Wesson Brands, Inc.		321		4,215
Chase Corp.		53		4,124
FARO Technologies, Inc.*		129		3,977
Harsco Corp.*		556		3,953
UFP Technologies, Inc.*		48		3,819
SmartRent, Inc.*		842		3,806
Modine Manufacturing Co.*		352		3,707
Argan, Inc.		99		3,695
Charge Enterprises, Inc.*		765		3,649
Kimball Electronics, Inc.*		170		3,417
Ducommun, Inc.*		79		3,400
Dorian LPG Ltd.		218		3,314
DXP Enterprises, Inc.*		108		3,308
Thermon Group Holdings, Inc.*		234		3,288
908 Devices, Inc.*		155		3,191
Stoneridge, Inc.*		186		3,190
nLight, Inc.*		311		3,178
LSB Industries, Inc.*		224		3,105
Pactiv Evergreen, Inc.		306		3,048

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Luxfer Holdings plc		198	$	2,994
Heritage-Crystal Clean, Inc.*		111		2,993
Nordic American Tankers Ltd.		1,346		2,867
Teekay Tankers Ltd. — Class A*		162		2,856
Haynes International, Inc.		87		2,851
Archer Aviation, Inc. — Class A*		881		2,714
Tutor Perini Corp.*		298		2,616
Manitowoc Company, Inc.*		246		2,590
Vishay Precision Group, Inc.*		88		2,563
Babcock & Wilcox Enterprises, Inc.*		422		2,545
Ryerson Holding Corp.		118		2,512
Hyster-Yale Materials Handling, Inc.		77		2,481
Omega Flex, Inc.		23		2,475
National Presto Industries, Inc.		37		2,429
AMMO, Inc.*,1		619		2,383
Greif, Inc. — Class B		38		2,367
Cadre Holdings, Inc.		117		2,301
Ranpak Holdings Corp.*		308		2,156
Latham Group, Inc.*		311		2,155
CIRCOR International, Inc.*		131		2,147
Allied Motion Technologies, Inc.		92		2,101
Northwest Pipe Co.*		69		2,066
Radiant Logistics, Inc.*		269		1,996
Safe Bulkers, Inc.		519		1,983
Covenant Logistics Group, Inc. — Class A		79		1,982
Tredegar Corp.		192		1,920
Eastman Kodak Co.*		404		1,875
IES Holdings, Inc.*		62		1,871
Centrus Energy Corp. — Class A*		75		1,856
Daseke, Inc.*		288		1,840
Astronics Corp.*		179		1,820
Identiv, Inc.*		156		1,806
CyberOptics Corp.*		51		1,782
Park Aerospace Corp.		139		1,774
Olympic Steel, Inc.		68		1,751
Ardmore Shipping Corp.*		247		1,722
Comtech Telecommunications Corp.		183		1,660
AerSale Corp.*		112		1,625
ESS Tech, Inc.*		571		1,605
Evolv Technologies Holdings, Inc.*		595		1,583
Powell Industries, Inc.		65		1,519
Caesarstone Ltd.		160		1,461
Pure Cycle Corp.*		138		1,454
Sarcos Technology and Robotics Corp.*		537		1,428
Teekay Corp.*		494		1,423
Universal Logistics Holdings, Inc.		52		1,420
Sight Sciences, Inc.*		153		1,375
Akoustis Technologies, Inc.*		368		1,362
Turtle Beach Corp.*		110		1,345
Astra Space, Inc.*		1,018		1,323
PAM Transportation Services, Inc.*		48		1,315
View, Inc.*		791		1,281
NuScale Power Corp.*		121		1,209
Concrete Pumping Holdings, Inc.*		186		1,127
Volta, Inc.*		865		1,125
Hydrofarm Holdings Group, Inc.*		309		1,075
Momentus, Inc.*		386		834
Karat Packaging, Inc.*		41		699
Atlas Technical Consultants, Inc.*		126		663
NL Industries, Inc.		60		592
Transphorm, Inc.*		152		579
Berkshire Grey, Inc.*		346		502
Redwire Corp.*,1		137		417
AEye, Inc.*		187		357
Fathom Digital Manufacturing C*		72		279
Total Industrial				2,091,142
Consumer, Cyclical - 9.0%
Murphy USA, Inc.		159		37,026
Texas Roadhouse, Inc. — Class A		484		35,429
Light & Wonder, Inc. — Class A*		693		32,564
Asbury Automotive Group, Inc.*		157		26,586
Avient Corp.		644		25,811
Fox Factory Holding Corp.*		300		24,162
Hilton Grand Vacations, Inc.*		635		22,689
Goodyear Tire & Rubber Co.*		1,986		21,270
Academy Sports & Outdoors, Inc.		594		21,111
Crocs, Inc.*		429		20,880
Dorman Products, Inc.*		186		20,406
Visteon Corp.*		197		20,405
Callaway Golf Co.*		990		20,196
Adient plc*		672		19,911
Resideo Technologies, Inc.*		1,023		19,867
Beacon Roofing Supply, Inc.*		384		19,722
LCI Industries		176		19,691
Papa John's International, Inc.		234		19,544
Group 1 Automotive, Inc.		114		19,357
Taylor Morrison Home Corp. — Class A*		818		19,108
FirstCash Holdings, Inc.		273		18,976
Meritage Homes Corp.*		257		18,633
Spirit Airlines, Inc.*		772		18,404
UniFirst Corp.		106		18,251
Meritor, Inc.*		497		18,056
Steven Madden Ltd.		559		18,005
Skyline Champion Corp.*		378		17,925
Signet Jewelers Ltd.		331		17,695
Sonos, Inc.*		903		16,290
KB Home		566		16,108
Wingstop, Inc.		212		15,851

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
National Vision Holdings, Inc.*		574	$	15,785
Nu Skin Enterprises, Inc. — Class A		353		15,285
Foot Locker, Inc.		588		14,847
Gentherm, Inc.*		234		14,604
Rush Enterprises, Inc. — Class A		300		14,460
Boot Barn Holdings, Inc.*		209		14,402
Installed Building Products, Inc.		172		14,304
SeaWorld Entertainment, Inc.*		320		14,137
MillerKnoll, Inc.		538		14,133
Cracker Barrel Old Country Store, Inc.		164		13,692
GMS, Inc.*		306		13,617
Kontoor Brands, Inc.		399		13,315
MDC Holdings, Inc.		405		13,086
International Game Technology plc		705		13,085
LGI Homes, Inc.*		148		12,861
Dana, Inc.		914		12,860
Cavco Industries, Inc.*		65		12,739
Red Rock Resorts, Inc. — Class A		378		12,610
KAR Auction Services, Inc.*		853		12,599
PriceSmart, Inc.		174		12,464
Allegiant Travel Co. — Class A*		110		12,440
Tri Pointe Homes, Inc.*		727		12,264
American Eagle Outfitters, Inc.		1,091		12,197
Cinemark Holdings, Inc.*		771		11,580
Wolverine World Wide, Inc.		566		11,411
Veritiv Corp.*		103		11,181
Winnebago Industries, Inc.		227		11,023
Vista Outdoor, Inc.*		395		11,021
Shake Shack, Inc. — Class A*		265		10,462
Bloomin' Brands, Inc.		625		10,388
HNI Corp.		299		10,372
Everi Holdings, Inc.*		622		10,145
Acushnet Holdings Corp.		242		10,087
Tenneco, Inc. — Class A*		584		10,021
Luminar Technologies, Inc.*		1,689		10,016
Dave & Buster's Entertainment, Inc.*		304		9,965
Fisker, Inc.*,1		1,151		9,864
Nikola Corp.*,1		2,066		9,834
Oxford Industries, Inc.		110		9,761
Virgin Galactic Holdings, Inc.*,1		1,615		9,722
Madison Square Garden Entertainment Corp.*		183		9,629
Methode Electronics, Inc.		257		9,519
Century Communities, Inc.		207		9,309
Cheesecake Factory, Inc.		352		9,300
ODP Corp.*		304		9,193
Healthcare Services Group, Inc.		525		9,140
World Fuel Services Corp.		442		9,043
Sally Beauty Holdings, Inc.*		758		9,035
Urban Outfitters, Inc.*		467		8,714
Jack in the Box, Inc.		150		8,409
Patrick Industries, Inc.		155		8,035
Malibu Boats, Inc. — Class A*		147		7,748
M/I Homes, Inc.*		194		7,694
SkyWest, Inc.*		353		7,501
Lions Gate Entertainment Corp. — Class B*		826		7,293
Dine Brands Global, Inc.		112		7,289
Proterra, Inc.*		1,565		7,262
La-Z-Boy, Inc.		304		7,208
TuSimple Holdings, Inc. — Class A*		990		7,158
Qurate Retail, Inc. — Class A		2,478		7,112
XPEL, Inc.*		153		7,027
iRobot Corp.*		190		6,982
Franchise Group, Inc.		195		6,839
Caleres, Inc.		258		6,770
Brinker International, Inc.*		307		6,763
Warby Parker, Inc. — Class A*		591		6,655
Dillard's, Inc. — Class A		30		6,617
Standard Motor Products, Inc.		146		6,569
H&E Equipment Services, Inc.		226		6,547
Steelcase, Inc. — Class A		610		6,545
Liberty Media Corporation-Liberty Braves — Class C*		267		6,408
G-III Apparel Group Ltd.*		309		6,251
American Axle & Manufacturing Holdings, Inc.*		800		6,024
Abercrombie & Fitch Co. — Class A*		351		5,939
Buckle, Inc.		214		5,926
IMAX Corp.*		348		5,878
Camping World Holdings, Inc. — Class A1		272		5,873
Golden Entertainment, Inc.*		145		5,735
ScanSource, Inc.*		182		5,667
Bally's Corp.*		283		5,598
Monarch Casino & Resort, Inc.*		95		5,574
Titan International, Inc.*		362		5,466
MarineMax, Inc.*		150		5,418
Clean Energy Fuels Corp.*		1,200		5,376
Designer Brands, Inc. — Class A		409		5,342
Sonic Automotive, Inc. — Class A		143		5,238
Interface, Inc. — Class A		414		5,192
Hawaiian Holdings, Inc.*		359		5,137
Funko, Inc. — Class A*		225		5,022
Arko Corp.		601		4,904
Sleep Number Corp.*		153		4,735
Wabash National Corp.		344		4,671
Genesco, Inc.*		93		4,642
Douglas Dynamics, Inc.		160		4,598
Shyft Group, Inc.		244		4,536
Accel Entertainment, Inc.*		416		4,418
BlueLinx Holdings, Inc.*		66		4,410
Chico's FAS, Inc.*		866		4,304

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Sun Country Airlines Holdings, Inc.*		234	$	4,292
America's Car-Mart, Inc.*		42		4,225
Big Lots, Inc.		199		4,173
A-Mark Precious Metals, Inc.		128		4,128
Guess?, Inc.		241		4,109
indie Semiconductor, Inc. — Class A*		706		4,024
Hibbett, Inc.		92		4,021
Green Brick Partners, Inc.*		202		3,953
Winmark Corp.		20		3,911
Clarus Corp.		204		3,874
Lions Gate Entertainment Corp. — Class A*		413		3,845
Life Time Group Holdings, Inc.*		298		3,838
Holley, Inc.*		364		3,822
Ruth's Hospitality Group, Inc.		231		3,756
Denny's Corp.*		425		3,689
Children's Place, Inc.*		93		3,620
Ermenegildo Zegna Holditalia SpA		335		3,534
PC Connection, Inc.		80		3,524
BJ's Restaurants, Inc.*		160		3,469
Movado Group, Inc.		111		3,433
OneSpaWorld Holdings Ltd.*		470		3,370
Vizio Holding Corp. — Class A*		480		3,274
Ethan Allen Interiors, Inc.		160		3,234
Titan Machinery, Inc.*		144		3,227
Sovos Brands, Inc.*		202		3,206
Global Industrial Co.		92		3,107
TravelCenters of America, Inc.*		90		3,102
RCI Hospitality Holdings, Inc.		63		3,047
Hyliion Holdings Corp.*,1		939		3,024
Sportsman's Warehouse Holdings, Inc.*		308		2,954
Bowlero Corp.*		275		2,912
EVgo, Inc.*		481		2,891
Zumiez, Inc.*		111		2,886
VSE Corp.		76		2,856
PetMed Express, Inc.		143		2,846
Bed Bath & Beyond, Inc.*,1		564		2,803
Lovesac Co.*		99		2,723
MasterCraft Boat Holdings, Inc.*		129		2,715
Shoe Carnival, Inc.		125		2,701
Workhorse Group, Inc.*		1,038		2,699
Microvast Holdings, Inc.*		1,207		2,680
REV Group, Inc.		246		2,674
Chuy's Holdings, Inc.*		134		2,669
OneWater Marine, Inc. — Class A*		79		2,611
Rite Aid Corp.*		386		2,602
Beazer Homes USA, Inc.*		211		2,547
Marcus Corp.*		169		2,496
Haverty Furniture Companies, Inc.		107		2,480
Frontier Group Holdings, Inc.*,1		264		2,474
Rush Enterprises, Inc. — Class B		48		2,381
Johnson Outdoors, Inc. — Class A		38		2,324
Portillo's, Inc. — Class A*		141		2,305
Hudson Technologies, Inc.*		305		2,291
Bluegreen Vacations Holding Corp.		91		2,271
Universal Electronics, Inc.*		86		2,199
Wheels Up Experience, Inc.*		1,126		2,196
Solid Power, Inc.*		402		2,163
Aeva Technologies, Inc.*		686		2,147
Tupperware Brands Corp.*		322		2,041
Rush Street Interactive, Inc.*		430		2,008
Cenntro Electric Group Ltd.*		1,302		1,966
Kimball International, Inc. — Class B		256		1,964
LL Flooring Holdings, Inc.*		207		1,940
Aspen Aerogels, Inc.*,1		194		1,917
Lindblad Expeditions Holdings, Inc.*		228		1,847
Hyzon Motors, Inc.*,1		622		1,829
Vinco Ventures, Inc.*		1,299		1,793
Liberty Media Corporation-Liberty Braves — Class A*		71		1,786
Lordstown Motors Corp. — Class A*		1,130		1,785
Miller Industries, Inc.		78		1,768
Forestar Group, Inc.*		129		1,766
Motorcar Parts of America, Inc.*		132		1,732
Fossil Group, Inc.*		330		1,706
Big 5 Sporting Goods Corp.		152		1,704
Rocky Brands, Inc.		49		1,675
Build-A-Bear Workshop, Inc. — Class A		101		1,658
Kura Sushi USA, Inc. — Class A*		33		1,635
Hovnanian Enterprises, Inc. — Class A*		37		1,583
Dream Finders Homes, Inc. — Class A*		148		1,575
Canoo, Inc.*		816		1,510
Cato Corp. — Class A		130		1,509
Xponential Fitness, Inc. — Class A*		120		1,507
Superior Group of Companies, Inc.		83		1,473
GrowGeneration Corp.*		406		1,458
Destination XL Group, Inc.*		423		1,434
Container Store Group, Inc.*		230		1,433
Citi Trends, Inc.*		60		1,419
Full House Resorts, Inc.*		233		1,417
PLBY Group, Inc.*		220		1,408
Century Casinos, Inc.*		193		1,390
Weber, Inc. — Class A1		191		1,377
El Pollo Loco Holdings, Inc.*		139		1,368
Noodles & Co.*		289		1,358
Velodyne Lidar, Inc.*		1,366		1,305
NEOGAMES S.A.*		93		1,247
Target Hospitality Corp.*		217		1,239

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Purple Innovation, Inc.*		388	$	1,187
ONE Group Hospitality, Inc.*		160		1,179
Snap One Holdings Corp.*		128		1,174
Tilly's, Inc. — Class A		163		1,144
Blue Bird Corp.*		124		1,142
Sweetgreen, Inc. — Class A*		95		1,107
ThredUp, Inc. — Class A*		415		1,037
Weyco Group, Inc.		42		1,027
First Watch Restaurant Group, Inc.*		71		1,024
Party City Holdco, Inc.*		772		1,019
F45 Training Holdings, Inc.*		256		1,006
Lifetime Brands, Inc.		91		1,005
Traeger, Inc.*		227		965
Reservoir Media, Inc.*		145		945
Aterian, Inc.*		431		931
Express, Inc.*		455		892
Duluth Holdings, Inc. — Class B*		93		887
Tile Shop Holdings, Inc.		257		789
Lightning eMotors, Inc.*		277		767
Conn's, Inc.*		93		746
Biglari Holdings, Inc. — Class B*		6		736
Xos, Inc.*		387		712
JOANN, Inc.1		78		605
Marine Products Corp.		59		561
Landsea Homes Corp.*		74		493
Torrid Holdings, Inc.*		106		458
Sonder Holdings, Inc.*		309		321
CompX International, Inc.		11		255
Mullen Automotive, Inc.*		107		109
Cepton, Inc.*		55		86
Total Consumer, Cyclical				1,795,921
Technology - 8.5%
Sailpoint Technologies Holdings, Inc.*		659		41,306
Silicon Laboratories, Inc.*		257		36,036
Tenable Holdings, Inc.*		778		35,329
CMC Materials, Inc.		202		35,247
Qualys, Inc.*		276		34,815
ExlService Holdings, Inc.*		229		33,739
Synaptics, Inc.*		281		33,172
Power Integrations, Inc.		410		30,754
SPS Commerce, Inc.*		257		29,054
Rapid7, Inc.*		411		27,455
Maximus, Inc.		435		27,192
Blackline, Inc.*		391		26,041
Semtech Corp.*		448		24,627
Onto Innovation, Inc.*		351		24,479
Ziff Davis, Inc.*		323		24,073
Box, Inc. — Class A*		914		22,978
Varonis Systems, Inc.*		771		22,606
DigitalOcean Holdings, Inc.*		540		22,334
Workiva, Inc.*		337		22,239
FormFactor, Inc.*		552		21,379
ACI Worldwide, Inc.*		811		20,997
Envestnet, Inc.*		389		20,528
Diodes, Inc.*		315		20,340
ManTech International Corp. — Class A		212		20,235
CommVault Systems, Inc.*		315		19,813
Altair Engineering, Inc. — Class A*		368		19,320
Insight Enterprises, Inc.*		222		19,154
Blackbaud, Inc.*		329		19,105
Verint Systems, Inc.*		450		19,057
Sprout Social, Inc. — Class A*		325		18,873
SiTime Corp.*		113		18,422
Evolent Health, Inc. — Class A*		580		17,812
Kulicke & Soffa Industries, Inc.		411		17,595
MaxLinear, Inc. — Class A*		508		17,262
NetScout Systems, Inc.*		499		16,891
Ambarella, Inc.*		258		16,889
Rambus, Inc.*		776		16,676
MACOM Technology Solutions Holdings, Inc.*		358		16,504
Verra Mobility Corp.*		1,034		16,244
PagerDuty, Inc.*		602		14,918
Duolingo, Inc.*		167		14,621
Progress Software Corp.		310		14,043
CSG Systems International, Inc.		227		13,547
Appian Corp.*		283		13,403
Super Micro Computer, Inc.*		321		12,952
Axcelis Technologies, Inc.*		232		12,723
Appfolio, Inc. — Class A*		135		12,236
Amkor Technology, Inc.		719		12,187
Xerox Holdings Corp.		809		12,014
Allscripts Healthcare Solutions, Inc.*		806		11,953
Digital Turbine, Inc.*		652		11,390
MicroStrategy, Inc. — Class A*,1		67		11,008
E2open Parent Holdings, Inc.*		1,410		10,970
Apollo Medical Holdings, Inc.*		276		10,651
Xperi Holding Corp.		737		10,635
Schrodinger Incorporated/United States*		382		10,089
1Life Healthcare, Inc.*		1,276		10,004
Ping Identity Holding Corp.*		547		9,923
Parsons Corp.*		239		9,660
Ultra Clean Holdings, Inc.*		320		9,526
Cohu, Inc.*		340		9,435
Fastly, Inc. — Class A*		790		9,172
Asana, Inc. — Class A*		521		9,159
TTEC Holdings, Inc.		134		9,097
Privia Health Group, Inc.*		307		8,940
C3.ai, Inc. — Class A*		487		8,893
Clear Secure, Inc. — Class A*		441		8,820
Impinj, Inc.*		149		8,742
Phreesia, Inc.*		348		8,703
3D Systems Corp.*		897		8,701
Photronics, Inc.*		424		8,259
Momentive Global, Inc.*		937		8,246
Duck Creek Technologies, Inc.*		547		8,123
KnowBe4, Inc. — Class A*		515		8,044
Everbridge, Inc.*		280		7,809
PROS Holdings, Inc.*		290		7,607

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
BigCommerce Holdings, Inc.*		454	$	7,355
Zuora, Inc. — Class A*		799		7,151
PAR Technology Corp.*		188		7,048
LivePerson, Inc.*		498		7,042
Cerence, Inc.*		278		7,014
NextGen Healthcare, Inc.*		394		6,871
Veeco Instruments, Inc.*		353		6,848
Alignment Healthcare, Inc.*		597		6,812
Agilysys, Inc.*		139		6,571
Avid Technology, Inc.*		253		6,565
Model N, Inc.*		255		6,523
AvidXchange Holdings, Inc.*		1,037		6,367
Olo, Inc. — Class A*		636		6,277
Domo, Inc. — Class B*		215		5,977
Digi International, Inc.*		242		5,861
Grid Dynamics Holdings, Inc.*		344		5,786
Donnelley Financial Solutions, Inc.*		196		5,741
ACM Research, Inc. — Class A*		339		5,705
SMART Global Holdings, Inc.*		348		5,697
Matterport, Inc.*,1		1,549		5,669
Amplitude, Inc. — Class A*		396		5,659
Unisys Corp.*		469		5,642
Health Catalyst, Inc.*		383		5,550
Simulations Plus, Inc.		111		5,476
CEVA, Inc.*		162		5,437
Sapiens International Corporation N.V.		218		5,273
Cardlytics, Inc.*		234		5,221
ACV Auctions, Inc. — Class A*		798		5,219
Alpha & Omega Semiconductor Ltd.*		156		5,201
Conduent, Inc.*		1,201		5,188
Outset Medical, Inc.*		339		5,038
Consensus Cloud Solutions, Inc.*		113		4,936
PubMatic, Inc. — Class A*		296		4,703
PDF Solutions, Inc.*		214		4,603
Sumo Logic, Inc.*		605		4,531
Pitney Bowes, Inc.		1,225		4,434
N-able, Inc.*		482		4,338
ForgeRock, Inc. — Class A*		197		4,220
Desktop Metal, Inc. — Class A*		1,871		4,116
Yext, Inc.*		850		4,063
8x8, Inc.*		778		4,007
EngageSmart, Inc.*		247		3,972
AvePoint, Inc.*		912		3,958
PowerSchool Holdings, Inc. — Class A*		323		3,892
Hims & Hers Health, Inc.*		859		3,891
IonQ, Inc.*,1		841		3,684
American Software, Inc. — Class A		221		3,571
Corsair Gaming, Inc.*,1		271		3,558
BTRS Holdings, Inc. — Class 1*		710		3,536
Alkami Technology, Inc.*		254		3,528
SolarWinds Corp.		342		3,505
OneSpan, Inc.*		283		3,368
Computer Programs and Systems, Inc.*		101		3,229
Ebix, Inc.		187		3,160
Blend Labs, Inc. — Class A*		1,309		3,089
Bandwidth, Inc. — Class A*		164		3,086
Telos Corp.*		381		3,079
Upland Software, Inc.*		206		2,991
Vuzix Corp.*,1		420		2,982
Rackspace Technology, Inc.*		408		2,925
CS Disco, Inc.*		158		2,850
ON24, Inc.*		295		2,800
Instructure Holdings, Inc.*		123		2,792
Mitek Systems, Inc.*		299		2,763
Cvent Holding Corp.*		595		2,749
MeridianLink, Inc.*		163		2,722
Skillz, Inc.*		2,163		2,682
Integral Ad Science Holding Corp.*		270		2,681
Playstudios, Inc.*		561		2,401
Daily Journal Corp.*		9		2,329
Cantaloupe, Inc.*		413		2,313
HireRight Holdings Corp.*,1		150		2,131
Rimini Street, Inc.*		345		2,073
Skillsoft Corp.*		574		2,020
Brightcove, Inc.*		291		1,839
Enfusion, Inc. — Class A*		180		1,838
Faraday Future Intelligent Electric, Inc.*		703		1,828
GTY Technology Holdings, Inc.*		289		1,809
UserTesting, Inc.*		336		1,687
AXT, Inc.*		287		1,682
WM Technology, Inc.*		508		1,671
Rockley Photonics Holdings Ltd.*		722		1,574
Ouster, Inc.*		966		1,565
EverCommerce, Inc.*		171		1,546
Intapp, Inc.*		100		1,464
Porch Group, Inc.*		571		1,462
Veritone, Inc.*		221		1,443
eGain Corp.*		148		1,443
Markforged Holding Corp.*		779		1,441
Benefitfocus, Inc.*		183		1,424
Outbrain, Inc.*		283		1,423
Digimarc Corp.*		97		1,372
Inspired Entertainment, Inc.*		157		1,352
Atomera, Inc.*		144		1,351
Avaya Holdings Corp.*		591		1,324
Red Violet, Inc.*		67		1,276
Convey Health Solutions Holdings, Inc.*		114		1,186
Diebold Nixdorf, Inc.*		517		1,174
Cerberus Cyber Sentinel Corp.*,1		323		1,163
Inseego Corp.*,1		610		1,153
IronNet, Inc.*		459		1,014
Zeta Global Holdings Corp. — Class A*		220		994
Nutex Health, Inc.*		274		884
Arteris, Inc.*		120		836
Rigetti Computing, Inc.*,1		227		833

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
NextNav, Inc.*		345	$	783
SecureWorks Corp. — Class A*		70		760
Sharecare, Inc.*		434		686
IBEX Holdings Ltd.*		40		675
Latch, Inc.*		498		568
Velo3D, Inc.*		399		551
Loyalty Ventures, Inc.*		142		507
Viant Technology, Inc. — Class A*		99		503
SkyWater Technology, Inc.*		77		464
Kaleyra, Inc.*		209		426
LiveVox Holdings, Inc.*		158		262
Weave Communications, Inc.*		36		109
Total Technology				1,694,165
Energy - 4.6%
Matador Resources Co.		797		37,132
Murphy Oil Corp.		1,043		31,488
Helmerich & Payne, Inc.		728		31,348
SM Energy Co.		857		29,301
ChampionX Corp.		1,446		28,703
Civitas Resources, Inc.		522		27,295
Magnolia Oil & Gas Corp. — Class A		1,181		24,789
Patterson-UTI Energy, Inc.		1,518		23,924
CNX Resources Corp.*		1,364		22,451
Denbury, Inc.*		359		21,536
California Resources Corp.		554		21,329
PBF Energy, Inc. — Class A*		685		19,879
Kosmos Energy Ltd.*		3,195		19,777
Whiting Petroleum Corp.		278		18,912
Equitrans Midstream Corp.		2,910		18,508
Valaris Ltd.*		431		18,205
Peabody Energy Corp.*		833		17,768
Oasis Petroleum, Inc.		139		16,909
Alpha Metallurgical Resources, Inc.		127		16,399
Arch Resources, Inc.1		108		15,454
Callon Petroleum Co.*		348		13,642
Shoals Technologies Group, Inc. — Class A*		792		13,052
Sunnova Energy International, Inc.*		703		12,956
Delek US Holdings, Inc.		499		12,894
Liberty Energy, Inc. — Class A*		1,010		12,888
CONSOL Energy, Inc.*		243		11,999
NexTier Oilfield Solutions, Inc.*		1,243		11,821
Array Technologies, Inc.*		1,067		11,748
Northern Oil and Gas, Inc.		464		11,721
Warrior Met Coal, Inc.		364		11,142
Tellurian, Inc.*		3,611		10,761
Weatherford International plc*		500		10,585
Green Plains, Inc.*		373		10,134
FuelCell Energy, Inc.*		2,614		9,802
SunPower Corp. — Class A*		579		9,154
Brigham Minerals, Inc. — Class A		361		8,891
Centennial Resource Development, Inc. — Class A*		1,456		8,707
Nabors Industries Ltd.*		65		8,704
Laredo Petroleum, Inc.*		121		8,342
Archrock, Inc.		958		7,923
Comstock Resources, Inc.*		649		7,840
NOW, Inc.*		781		7,638
Oceaneering International, Inc.*		708		7,561
Stem, Inc.*		1,020		7,303
Talos Energy, Inc.*		468		7,240
CVR Energy, Inc.		209		7,002
Noble Corp.*		267		6,768
Gulfport Energy Corp.*		84		6,679
Archaea Energy, Inc.*		422		6,554
Expro Group Holdings N.V.*		549		6,324
Dril-Quip, Inc.*		241		6,218
ProPetro Holding Corp.*		618		6,180
US Silica Holdings, Inc.*		524		5,984
MRC Global, Inc.*		588		5,857
Tidewater, Inc.*		270		5,694
Par Pacific Holdings, Inc.*		346		5,394
Ranger Oil Corp. — Class A*		151		4,963
Montauk Renewables, Inc.*		456		4,583
Borr Drilling Ltd.*		951		4,384
Berry Corp.		567		4,321
Earthstone Energy, Inc. — Class A*		306		4,177
Diamond Offshore Drilling, Inc.*		707		4,164
Vertex Energy, Inc.*		383		4,029
SunCoke Energy, Inc.		590		4,018
Kinetik Holdings, Inc. — Class A		117		3,994
Bristow Group, Inc.*		167		3,908
RPC, Inc.*		526		3,635
TETRA Technologies, Inc.*		881		3,577
SandRidge Energy, Inc.*		225		3,526
Select Energy Services, Inc. — Class A*		506		3,451
Gevo, Inc.*		1,393		3,274
TPI Composites, Inc.*		259		3,238
REX American Resources Corp.*		37		3,138
Helix Energy Solutions Group, Inc.*		1,012		3,137
W&T Offshore, Inc.*		669		2,890
VAALCO Energy, Inc.		414		2,873
Crescent Energy Co. — Class A		230		2,870
Excelerate Energy, Inc. — Class A*		131		2,610
Aris Water Solution, Inc. — Class A		156		2,602
Solaris Oilfield Infrastructure, Inc. — Class A		223		2,426
Fluence Energy, Inc.*		254		2,408
DMC Global, Inc.*		133		2,398
SilverBow Resources, Inc.*		83		2,354
Oil States International, Inc.*		432		2,341
Ramaco Resources, Inc.		159		2,091
Sitio Royalties Corp.		83		1,924
Alto Ingredients, Inc.*		511		1,896
Newpark Resources, Inc.*		600		1,854

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
National Energy Services Reunited Corp.*		271	$	1,837
Riley Exploration Permian, Inc.		74		1,789
Energy Vault Holdings, Inc.*		178		1,784
Infrastructure and Energy Alternatives, Inc.*		215		1,726
Amplify Energy Corp.*		253		1,655
Ring Energy, Inc.*		612		1,628
FutureFuel Corp.		183		1,332
HighPeak Energy, Inc.		45		1,153
Cleanspark, Inc.*		284		1,113
NACCO Industries, Inc. — Class A		29		1,099
Aemetis, Inc.*		206		1,011
Eneti, Inc.		162		995
NextDecade Corp.*,1		219		972
Empire Petroleum Corp.*		48		570
Heliogen, Inc.*		136		287
Battalion Oil Corp.*		18		154
Total Energy				906,368
Communications - 3.6%
Vonage Holdings Corp.*		1,819		34,270
Iridium Communications, Inc.*		901		33,842
TEGNA, Inc.		1,577		33,070
Marqeta, Inc. — Class A*		3,072		24,914
Perficient, Inc.*		242		22,189
Viavi Solutions, Inc.*		1,611		21,314
DigitalBridge Group, Inc.*		4,184		20,418
Cogent Communications Holdings, Inc.		304		18,471
Upwork, Inc.*		848		17,537
Bumble, Inc. — Class A*		610		17,171
Cargurus, Inc.*		722		15,516
Q2 Holdings, Inc.*		395		15,235
Calix, Inc.*		402		13,724
Yelp, Inc. — Class A*		487		13,524
Maxar Technologies, Inc.		515		13,436
InterDigital, Inc.		219		13,315
TechTarget, Inc.*		194		12,750
Plantronics, Inc.*		299		11,864
Telephone & Data Systems, Inc.		714		11,274
Gray Television, Inc.		599		10,117
ePlus, Inc.*		188		9,987
Shutterstock, Inc.		172		9,857
CommScope Holding Company, Inc.*		1,451		8,880
Liberty Latin America Ltd. — Class C*		1,082		8,429
Magnite, Inc.*		926		8,223
Figs, Inc. — Class A*		902		8,217
Extreme Networks, Inc.*		905		8,073
Open Lending Corp. — Class A*		747		7,642
Shenandoah Telecommunications Co.		343		7,615
Overstock.com, Inc.*		302		7,553
Revolve Group, Inc.*		289		7,488
Infinera Corp.*		1,340		7,182
Scholastic Corp.		196		7,050
WideOpenWest, Inc.*		379		6,902
iHeartMedia, Inc. — Class A*		853		6,730
A10 Networks, Inc.		466		6,701
ContextLogic, Inc. — Class A*		4,027		6,443
AMC Networks, Inc. — Class A*		214		6,232
Vimeo, Inc.*		1,013		6,098
ADTRAN, Inc.		346		6,065
Sinclair Broadcast Group, Inc. — Class A		295		6,018
Globalstar, Inc.*,1		4,842		5,956
NeoPhotonics Corp.*		372		5,852
Gogo, Inc.*		354		5,731
Harmonic, Inc.*		652		5,653
Eventbrite, Inc. — Class A*		546		5,607
EW Scripps Co. — Class A*		414		5,162
Clearfield, Inc.*		82		5,080
EchoStar Corp. — Class A*		250		4,825
Planet Labs PBC*		1,100		4,763
Squarespace, Inc. — Class A*		222		4,644
Cars.com, Inc.*		490		4,621
Thryv Holdings, Inc.*		180		4,030
HealthStream, Inc.*		171		3,712
NETGEAR, Inc.*		200		3,704
QuinStreet, Inc.*		367		3,692
Consolidated Communications Holdings, Inc.*		526		3,682
ATN International, Inc.		77		3,612
Anterix, Inc.*		86		3,532
OptimizeRx Corp.*		125		3,424
Cyxtera Technologies, Inc.*,1		301		3,413
Poshmark, Inc. — Class A*		325		3,286
Tucows, Inc. — Class A*		70		3,116
fuboTV, Inc.*		1,261		3,115
ChannelAdvisor Corp.*		213		3,106
Couchbase, Inc.*		188		3,087
United States Cellular Corp.*		106		3,070
Stagwell, Inc.*		553		3,003
Boston Omaha Corp. — Class A*		145		2,994
Gannett Company, Inc.*		1,019		2,955
Stitch Fix, Inc. — Class A*		575		2,841
Clear Channel Outdoor Holdings, Inc.*		2,583		2,764
Allbirds, Inc. — Class A*		668		2,625
IDT Corp. — Class B*		103		2,590
CarParts.com, Inc.*		360		2,498
Rover Group, Inc.*		656		2,467
Liquidity Services, Inc.*		176		2,365
Edgio, Inc.*,1		972		2,245
Advantage Solutions, Inc.*		584		2,219
Liberty Latin America Ltd. — Class A*		274		2,137
DZS, Inc.*		123		2,001
Aviat Networks, Inc.*		78		1,953
Credo Technology Group Holding Ltd.*,1		167		1,951
Ooma, Inc.*		162		1,918
Entravision Communications Corp. — Class A		420		1,915
Quotient Technology, Inc.*		633		1,880

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
1-800-Flowers.com, Inc. — Class A*		190	$	1,807
Blade Air Mobility, Inc.*,1		397		1,771
Groupon, Inc.*		153		1,729
MediaAlpha, Inc. — Class A*		169		1,665
Ribbon Communications, Inc.*		512		1,557
DHI Group, Inc.*		303		1,506
RealReal, Inc.*		603		1,501
Focus Universal, Inc.*,1		125		1,427
Vivid Seats, Inc. — Class A		175		1,307
Ondas Holdings, Inc.*		242		1,304
EverQuote, Inc. — Class A*		137		1,211
Cambium Networks Corp.*		81		1,187
Lands' End, Inc.*		108		1,147
Preformed Line Products Co.		18		1,107
RumbleON, Inc. — Class B*		74		1,089
Cumulus Media, Inc. — Class A*		131		1,013
Casa Systems, Inc.*		250		983
1stdibs.com, Inc.*		165		939
Vacasa, Inc. — Class A*		289		832
Nerdy, Inc.*		383		816
Audacy, Inc.*		845		796
Terran Orbital Corp.*		169		774
KORE Group Holdings, Inc.*		248		761
Arena Group Holdings, Inc.*		80		720
Starry Group Holdings, Inc. — Class A*,1		169		696
Solo Brands, Inc. — Class A*,1		156		633
Gambling.com Group Ltd.*		61		480
BARK, Inc.*		365		467
Value Line, Inc.		7		462
Lulu's Fashion Lounge Holdings, Inc.*		42		456
Urban One, Inc.*		85		364
AdTheorent Holding Company, Inc.*		113		349
Inspirato, Inc.*		73		338
Urban One, Inc.*		59		322
Innovid Corp.*		158		262
aka Brands Holding Corp.*		79		218
Total Communications				720,128
Utilities - 2.8%
Southwest Gas Holdings, Inc.		467		40,666
Black Hills Corp.		460		33,474
ONE Gas, Inc.		381		30,933
Portland General Electric Co.		633		30,593
New Jersey Resources Corp.		682		30,369
South Jersey Industries, Inc.		869		29,668
Brookfield Infrastructure Corp. — Class A		693		29,453
PNM Resources, Inc.		605		28,907
Spire, Inc.		361		26,848
Ormat Technologies, Inc.		321		25,150
ALLETE, Inc.		406		23,865
NorthWestern Corp.		385		22,688
Avista Corp.		513		22,321
American States Water Co.		261		21,274
California Water Service Group		380		21,109
Clearway Energy, Inc. — Class C		580		20,207
MGE Energy, Inc.		258		20,080
Otter Tail Corp.		291		19,535
Chesapeake Utilities Corp.		123		15,935
Northwest Natural Holding Co.		241		12,797
SJW Group		191		11,920
Middlesex Water Co.		123		10,785
Ameresco, Inc. — Class A*		225		10,251
Clearway Energy, Inc. — Class A		246		7,864
Unitil Corp.		112		6,577
York Water Co.		101		4,083
Artesian Resources Corp. — Class A		58		2,852
Altus Power, Inc.*		297		1,874
Global Water Resources, Inc.		91		1,202
FTC Solar, Inc.*		293		1,061
Via Renewables, Inc.		86		659
Total Utilities				565,000
Basic Materials - 2.7%
Rogers Corp.*		133		34,858
Balchem Corp.		225		29,192
Commercial Metals Co.		856		28,334
Livent Corp.*		1,147		26,026
Cabot Corp.		394		25,133
Sensient Technologies Corp.		297		23,926
HB Fuller Co.		376		22,639
Arconic Corp.*		749		21,010
Allegheny Technologies, Inc.*		878		19,939
Ingevity Corp.*		275		17,364
Innospec, Inc.		175		16,763
Stepan Co.		152		15,405
Hecla Mining Co.		3,785		14,837
Quaker Chemical Corp.		96		14,354
Minerals Technologies, Inc.		232		14,231
Tronox Holdings plc — Class A		828		13,910
Constellium SE*		878		11,598
GCP Applied Technologies, Inc.*		352		11,011
Trinseo plc		256		9,846
Carpenter Technology Corp.		338		9,433
Perimeter Solutions S.A.*		863		9,355
Kaiser Aluminum Corp.		112		8,858
Compass Minerals International, Inc.		243		8,600
Sylvamo Corp.		251		8,203
Novagold Resources, Inc.*		1,692		8,139
Orion Engineered Carbons S.A.		429		6,662
AdvanSix, Inc.		193		6,454
Uranium Energy Corp.*		1,978		6,092
Schnitzer Steel Industries, Inc. — Class A		183		6,010
Coeur Mining, Inc.*		1,971		5,992
Schweitzer-Mauduit International, Inc.		223		5,602

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
Energy Fuels, Inc.*		1,104	$	5,421
Lightwave Logic, Inc.*		791		5,173
Hawkins, Inc.		137		4,936
American Vanguard Corp.		207		4,626
Codexis, Inc.*		433		4,529
Piedmont Lithium, Inc.*		123		4,478
Ecovyst, Inc.		453		4,462
Resolute Forest Products, Inc.*		325		4,147
Neenah, Inc.		119		4,062
Clearwater Paper Corp.*		118		3,968
Origin Materials, Inc.*		753		3,855
Diversey Holdings Ltd.*		553		3,650
Intrepid Potash, Inc.*		79		3,578
Koppers Holdings, Inc.		145		3,283
Danimer Scientific, Inc.*		641		2,923
Kronos Worldwide, Inc.		157		2,889
5E Advanced Materials, Inc.*		229		2,789
Century Aluminum Co.*		368		2,712
Amyris, Inc.*		1,393		2,577
Glatfelter Corp.		311		2,140
Ur-Energy, Inc.*		1,482		1,571
United States Lime & Minerals, Inc.		14		1,478
Unifi, Inc.*		99		1,392
Dakota Gold Corp.*		360		1,206
Hycroft Mining Holding Corp.*		1,068		1,186
Rayonier Advanced Materials, Inc.*		437		1,145
Valhi, Inc.		17		771
PolyMet Mining Corp.*		207		569
Terawulf, Inc.*		151		181
Total Basic Materials				545,473
Government - 0.0%
Banco Latinoamericano de Comercio Exterior S.A. — Class E		195		2,588
Diversified - 0.0%
Professional Holding Corp. — Class A*		91		1,825
Total Common Stocks
(Cost $19,869,274)				16,102,807
RIGHTS††† - 0.0%
Consumer, Non-cyclical - 0.0%
Elanco Animal Health, Inc.*		505		–
Oncternal Therapeutics, Inc.*		7		–
Tobira Therapeutics, Inc.*		141		–
UCB*		385		–
Total Consumer, Non-cyclical				–
Total Rights
(Cost $103)				–
EXCHANGE-TRADED FUNDS† - 10.8%
iShares Russell 2000 Index ETF1		6,356		1,076,452
Vanguard Russell 2000 ETF1		15,743		1,076,349
Total Exchange-Traded Funds
(Cost $2,799,130)				2,152,801
		Face Amount
U.S. TREASURY BILLS†† - 0.4%
U.S. Cash Management Bill
1.34% due 10/04/222,3	$	71,000		70,661
U.S. Treasury Bills
1.02% due 07/19/223,4		12,000		11,994
Total U.S. Treasury Bills
(Cost $82,732)				82,655
REPURCHASE AGREEMENTS††,5 - 12.8%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/222		1,441,637		1,441,637
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/222		561,426		561,426
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/222		555,868		555,868
Total Repurchase Agreements
(Cost $2,558,931)				2,558,931
		Shares
SECURITIES LENDING COLLATERAL†,6 - 8.1%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%7		1,620,429		1,620,429
Total Securities Lending Collateral
(Cost $1,620,429)				1,620,429
Total Investments - 112.8%
(Cost $26,930,599)			$	22,517,623
Other Assets & Liabilities, net - (12.8)%				(2,549,678	)
Total Net Assets - 100.0%			$	19,967,945

Russell 2000 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Purchased†
Russell 2000 Index Mini Futures Contracts		2	Sep 2022	$	170,850	$	(2,287	)

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Depreciation

OTC Equity Index Swap Agreements††

Goldman Sachs International

Russell 2000 Index

Pay

1.83% (Federal Funds Rate + 0.25%)

At Maturity

11/17/22

252

$

430,711

$

(11,754

)

Barclays Bank plc

Russell 2000 Index

Pay

1.51% (SOFR)

At Maturity

11/16/22

345

589,010

(96,196

)

BNP Paribas

Russell 2000 Index

Pay

1.78% (Federal Funds Rate + 0.20%)

At Maturity

11/17/22

318

543,038

(100,824

)

$

1,562,759

$

(208,774

)

*	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, 2022 — See Note 5.
2	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.
3	Rate indicated is the effective yield at the time of purchase.
4	All or a portion of this security is pledged as futures collateral at June 30, 2022.
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, 2022.

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, 2022 (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	$	16,102,807	$	—	$	—		$	16,102,807
Rights		—		—		—	*		—
Exchange-Traded Funds		2,152,801		—		—			2,152,801
U.S. Treasury Bills		—		82,655		—			82,655
Repurchase Agreements		—		2,558,931		—			2,558,931
Securities Lending Collateral		1,620,429		—		—			1,620,429
Total Assets	$	19,876,037	$	2,641,586	$	—		$	22,517,623
Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Equity Futures Contracts**	$	2,287	$	—	$	—		$	2,287
Equity Index Swap Agreements**		—		208,774		—			208,774
Total Liabilities	$	2,287	$	208,774	$	—		$	211,061

* 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, 2022

	Shares		Value
COMMON STOCKS† - 78.5%
Technology - 18.2%
Apple, Inc.		36,255	$	4,956,784
Microsoft Corp.		17,635		4,529,197
NVIDIA Corp.		5,904		894,987
Broadcom, Inc.		963		467,835
Accenture plc — Class A		1,493		414,531
Adobe, Inc.*		1,114		407,791
Salesforce, Inc.*		2,343		386,689
Intel Corp.		9,641		360,670
QUALCOMM, Inc.		2,641		337,361
Texas Instruments, Inc.		2,174		334,035
International Business Machines Corp.		2,121		299,464
Advanced Micro Devices, Inc.*		3,821		292,192
Oracle Corp.		3,712		259,357
Intuit, Inc.		667		257,088
ServiceNow, Inc.*		473		224,921
Applied Materials, Inc.		2,083		189,511
Analog Devices, Inc.		1,234		180,275
Micron Technology, Inc.		2,633		145,552
Activision Blizzard, Inc.		1,844		143,574
Lam Research Corp.		327		139,351
Fidelity National Information Services, Inc.		1,440		132,005
Fiserv, Inc.*		1,372		122,067
KLA Corp.		352		112,316
Synopsys, Inc.*		361		109,636
Roper Technologies, Inc.		250		98,663
Cadence Design Systems, Inc.*		650		97,519
NXP Semiconductor N.V.		619		91,631
Fortinet, Inc.*		1,571		88,887
Autodesk, Inc.*		513		88,215
Paychex, Inc.		758		86,313
Cognizant Technology Solutions Corp. — Class A		1,229		82,945
HP, Inc.		2,484		81,425
Electronic Arts, Inc.		663		80,654
MSCI, Inc. — Class A		191		78,721
Microchip Technology, Inc.		1,311		76,143
ON Semiconductor Corp.*		1,025		51,568
ANSYS, Inc.*		205		49,054
Take-Two Interactive Software, Inc.*		373		45,704
Hewlett Packard Enterprise Co.		3,066		40,655
EPAM Systems, Inc.*		135		39,795
Monolithic Power Systems, Inc.		103		39,556
Broadridge Financial Solutions, Inc.		276		39,344
Zebra Technologies Corp. — Class A*		124		36,450
Skyworks Solutions, Inc.		379		35,111
Akamai Technologies, Inc.*		378		34,523
NetApp, Inc.		525		34,251
Teradyne, Inc.		378		33,850
Seagate Technology Holdings plc		466		33,291
Western Digital Corp.*		738		33,085
Tyler Technologies, Inc.*		98		32,583
Leidos Holdings, Inc.		322		32,429
Paycom Software, Inc.*		114		31,934
Jack Henry & Associates, Inc.		172		30,963
Citrix Systems, Inc.*		294		28,568
PTC, Inc.*		248		26,372
Qorvo, Inc.*		256		24,146
DXC Technology Co.*		576		17,459
Ceridian HCM Holding, Inc.*		324		15,254
Total Technology				17,434,250
Consumer, Non-cyclical - 17.7%
UnitedHealth Group, Inc.		2,212		1,136,150
Johnson & Johnson		6,205		1,101,449
Procter & Gamble Co.		5,657		813,420
Pfizer, Inc.		13,230		693,649
AbbVie, Inc.		4,167		638,218
Eli Lilly & Co.		1,860		603,068
Coca-Cola Co.		9,199		578,709
Merck & Company, Inc.		5,963		543,647
PepsiCo, Inc.		3,260		543,312
Thermo Fisher Scientific, Inc.		923		501,447
Abbott Laboratories		4,129		448,616
Danaher Corp.		1,526		386,872
Bristol-Myers Squibb Co.		5,020		386,540
Philip Morris International, Inc.		3,655		360,895
Amgen, Inc.		1,260		306,558
CVS Health Corp.		3,092		286,505
Medtronic plc		3,163		283,879
S&P Global, Inc.		818		275,715
Elevance Health, Inc.		568		274,105
Automatic Data Processing, Inc.		985		206,889
Mondelez International, Inc. — Class A		3,263		202,600
Cigna Corp.		748		197,113
Zoetis, Inc.		1,110		190,798
PayPal Holdings, Inc.*		2,731		190,733
Gilead Sciences, Inc.		2,958		182,834
Altria Group, Inc.		4,269		178,316
Vertex Pharmaceuticals, Inc.*		603		169,919
Intuitive Surgical, Inc.*		846		169,801
Becton Dickinson and Co.		672		165,668
Colgate-Palmolive Co.		1,976		158,357
Stryker Corp.		794		157,950
Regeneron Pharmaceuticals, Inc.*		255		150,738
Humana, Inc.		298		139,485
Edwards Lifesciences Corp.*		1,466		139,402
Estee Lauder Companies, Inc. — Class A		547		139,304
Boston Scientific Corp.*		3,371		125,637
Centene Corp.*		1,379		116,677
Moderna, Inc.*		816		116,566
McKesson Corp.		343		111,890
Kimberly-Clark Corp.		794		107,309
General Mills, Inc.		1,420		107,139
Archer-Daniels-Midland Co.		1,327		102,975
Moody's Corp.		378		102,805
Sysco Corp.		1,201		101,737
IQVIA Holdings, Inc.*		446		96,778
Corteva, Inc.		1,706		92,363
HCA Healthcare, Inc.		536		90,080
Constellation Brands, Inc. — Class A		384		89,495
Monster Beverage Corp.*		887		82,225
Cintas Corp.		205		76,574

S&P 500 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 78.5% (continued)
Consumer, Non-cyclical - 17.7% (continued)
Baxter International, Inc.		1,187	$	76,241
Hershey Co.		344		74,015
Global Payments, Inc.		664		73,465
Kroger Co.		1,547		73,220
ResMed, Inc.		345		72,322
Biogen, Inc.*		345		70,359
IDEXX Laboratories, Inc.*		198		69,445
Dexcom, Inc.*		925		68,940
Illumina, Inc.*		370		68,213
Verisk Analytics, Inc. — Class A		372		64,389
Kraft Heinz Co.		1,674		63,846
Keurig Dr Pepper, Inc.		1,739		61,543
Tyson Foods, Inc. — Class A		687		59,123
Church & Dwight Company, Inc.		572		53,002
West Pharmaceutical Services, Inc.		175		52,915
Equifax, Inc.		288		52,641
Zimmer Biomet Holdings, Inc.		494		51,900
Laboratory Corporation of America Holdings		219		51,325
AmerisourceBergen Corp. — Class A		356		50,367
McCormick & Company, Inc.		590		49,117
STERIS plc		236		48,651
Waters Corp.*		142		46,999
Gartner, Inc.*		190		45,948
Catalent, Inc.*		423		45,384
Kellogg Co.		597		42,590
Quanta Services, Inc.		339		42,490
PerkinElmer, Inc.		297		42,239
United Rentals, Inc.*		169		41,052
Align Technology, Inc.*		173		40,944
Clorox Co.		290		40,884
Hologic, Inc.*		588		40,748
Conagra Brands, Inc.		1,131		38,725
Molina Healthcare, Inc.*		138		38,586
FleetCor Technologies, Inc.*		182		38,240
Quest Diagnostics, Inc.		277		36,836
Cooper Companies, Inc.		116		36,322
Incyte Corp.*		444		33,731
Cardinal Health, Inc.		642		33,557
J M Smucker Co.		256		32,771
Bio-Techne Corp.		93		32,238
Hormel Foods Corp.		668		31,636
Avery Dennison Corp.		193		31,241
Brown-Forman Corp. — Class B		431		30,239
Viatris, Inc.		2,859		29,934
Teleflex, Inc.		111		27,289
ABIOMED, Inc.*		107		26,484
Charles River Laboratories International, Inc.*		120		25,676
Bio-Rad Laboratories, Inc. — Class A*		51		25,245
Henry Schein, Inc.*		326		25,017
Lamb Weston Holdings, Inc.		341		24,368
Molson Coors Beverage Co. — Class B		444		24,202
Campbell Soup Co.		477		22,920
MarketAxess Holdings, Inc.		89		22,785
Organon & Co.		598		20,182
Nielsen Holdings plc		848		19,691
Robert Half International, Inc.		261		19,546
Rollins, Inc.		534		18,647
Dentsply Sirona, Inc.		508		18,151
Universal Health Services, Inc. — Class B		158		15,912
DaVita, Inc.*		143		11,434
Total Consumer, Non-cyclical				16,948,833
Financial - 11.7%
Berkshire Hathaway, Inc. — Class B*		4,266		1,164,703
JPMorgan Chase & Co.		6,925		779,824
Visa, Inc. — Class A		3,880		763,933
Mastercard, Inc. — Class A		2,025		638,847
Bank of America Corp.		16,718		520,431
Wells Fargo & Co.		8,937		350,062
American Tower Corp. — Class A REIT		1,096		280,127
Morgan Stanley		3,300		250,998
Goldman Sachs Group, Inc.		810		240,586
Charles Schwab Corp.		3,556		224,668
Citigroup, Inc.		4,579		210,588
Prologis, Inc. REIT		1,745		205,299
BlackRock, Inc. — Class A		336		204,637
American Express Co.		1,438		199,336
Chubb Ltd.		999		196,383
Marsh & McLennan Companies, Inc.		1,183		183,661
CME Group, Inc. — Class A		847		173,381
Crown Castle International Corp. REIT		1,021		171,916
Progressive Corp.		1,379		160,336
PNC Financial Services Group, Inc.		975		153,826
Truist Financial Corp.		3,139		148,883
U.S. Bancorp		3,188		146,712
Equinix, Inc. REIT		215		141,259
Aon plc — Class A		501		135,110
Intercontinental Exchange, Inc.		1,316		123,757
Public Storage REIT		360		112,561
MetLife, Inc.		1,630		102,348
Realty Income Corp. REIT		1,418		96,793
Capital One Financial Corp.		927		96,584
Travelers Companies, Inc.		566		95,728
American International Group, Inc.		1,868		95,511
Welltower, Inc. REIT		1,070		88,115
Digital Realty Trust, Inc. REIT		671		87,116
Prudential Financial, Inc.		884		84,581
Allstate Corp.		648		82,121
SBA Communications Corp. REIT		254		81,293
Arthur J Gallagher & Co.		495		80,705
Aflac, Inc.		1,397		77,296
Simon Property Group, Inc. REIT		774		73,468
Bank of New York Mellon Corp.		1,752		73,076
VICI Properties, Inc. REIT		2,271		67,653
M&T Bank Corp.		423		67,422
AvalonBay Communities, Inc. REIT		330		64,102
Discover Financial Services		662		62,612
Ameriprise Financial, Inc.		259		61,559

S&P 500 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 78.5% (continued)
Financial - 11.7% (continued)
First Republic Bank		423	$	60,996
T. Rowe Price Group, Inc.		536		60,895
Equity Residential REIT		807		58,282
Weyerhaeuser Co. REIT		1,755		58,126
CBRE Group, Inc. — Class A*		771		56,753
SVB Financial Group*		139		54,904
Fifth Third Bancorp		1,618		54,365
Extra Space Storage, Inc. REIT		317		53,928
State Street Corp.		866		53,389
Willis Towers Watson plc		263		51,913
Alexandria Real Estate Equities, Inc. REIT		350		50,760
Hartford Financial Services Group, Inc.		775		50,708
Duke Realty Corp. REIT		907		49,840
Ventas, Inc. REIT		942		48,447
Mid-America Apartment Communities, Inc. REIT		272		47,510
Northern Trust Corp.		491		47,372
Cincinnati Financial Corp.		352		41,881
Nasdaq, Inc.		272		41,491
Regions Financial Corp.		2,203		41,306
Citizens Financial Group, Inc.		1,157		41,293
Raymond James Financial, Inc.		458		40,950
Huntington Bancshares, Inc.		3,393		40,818
Essex Property Trust, Inc. REIT		154		40,273
KeyCorp		2,199		37,889
Principal Financial Group, Inc.		554		37,002
Camden Property Trust REIT		251		33,754
W R Berkley Corp.		494		33,720
Iron Mountain, Inc. REIT		685		33,353
Healthpeak Properties, Inc. REIT		1,272		32,958
Synchrony Financial		1,182		32,647
UDR, Inc. REIT		706		32,504
Brown & Brown, Inc.		552		32,204
Boston Properties, Inc. REIT		336		29,897
Kimco Realty Corp. REIT		1,457		28,805
Cboe Global Markets, Inc.		250		28,297
Loews Corp.		458		27,141
Signature Bank		148		26,523
Host Hotels & Resorts, Inc. REIT		1,685		26,421
Everest Re Group Ltd.		93		26,066
Comerica, Inc.		308		22,601
Assurant, Inc.		128		22,125
Regency Centers Corp. REIT		366		21,707
Globe Life, Inc.		214		20,859
Zions Bancorp North America		357		18,171
Lincoln National Corp.		381		17,819
Federal Realty OP, LP REIT		169		16,180
Franklin Resources, Inc.		660		15,385
Invesco Ltd.		794		12,807
Vornado Realty Trust REIT		375		10,721
Total Financial				11,243,663
Communications - 10.1%
Amazon.com, Inc.*		20,631		2,191,219
Alphabet, Inc. — Class A*		709		1,545,095
Alphabet, Inc. — Class C*		650		1,421,842
Meta Platforms, Inc. — Class A*		5,408		872,040
Verizon Communications, Inc.		9,902		502,526
Cisco Systems, Inc.		9,795		417,659
Comcast Corp. — Class A		10,541		413,629
Walt Disney Co.*		4,295		405,448
AT&T, Inc.		16,880		353,805
T-Mobile US, Inc.*		1,389		186,876
Netflix, Inc.*		1,048		183,264
Booking Holdings, Inc.*		96		167,903
Charter Communications, Inc. — Class A*		273		127,909
Motorola Solutions, Inc.		394		82,582
Warner Bros Discovery, Inc.*		5,207		69,878
Twitter, Inc.*		1,799		67,265
Corning, Inc.		1,792		56,466
eBay, Inc.		1,320		55,004
CDW Corp.		319		50,262
Arista Networks, Inc.*		531		49,776
Match Group, Inc.*		673		46,901
VeriSign, Inc.*		225		37,649
Paramount Global — Class B		1,435		35,416
FactSet Research Systems, Inc.		89		34,227
Expedia Group, Inc.*		357		33,854
Omnicom Group, Inc.		485		30,851
NortonLifeLock, Inc.		1,372		30,129
Interpublic Group of Companies, Inc.		928		25,548
Lumen Technologies, Inc.		2,192		23,915
Fox Corp. — Class A		735		23,637
Etsy, Inc.*		300		21,963
F5, Inc.*		143		21,885
Juniper Networks, Inc.		762		21,717
News Corp. — Class A		916		14,271
DISH Network Corp. — Class A*		591		10,596
Fox Corp. — Class B		341		10,128
News Corp. — Class B		284		4,513
Total Communications				9,647,648
Consumer, Cyclical - 7.2%
Tesla, Inc.*		1,979		1,332,698
Home Depot, Inc.		2,437		668,396
Costco Wholesale Corp.		1,045		500,847
McDonald's Corp.		1,744		430,559
Walmart, Inc.		3,310		402,430
NIKE, Inc. — Class B		2,992		305,783
Lowe's Companies, Inc.		1,559		272,310
Starbucks Corp.		2,704		206,558
TJX Companies, Inc.		2,769		154,649
Target Corp.		1,090		153,941
Dollar General Corp.		539		132,292
General Motors Co.*		3,438		109,191
Ford Motor Co.		9,311		103,631
AutoZone, Inc.*		47		101,009
O'Reilly Automotive, Inc.*		155		97,923
Marriott International, Inc. — Class A		648		88,134
Chipotle Mexican Grill, Inc. — Class A*		66		86,279
Dollar Tree, Inc.*		531		82,756
Yum! Brands, Inc.		672		76,279
Hilton Worldwide Holdings, Inc.		656		73,105
Fastenal Co.		1,357		67,741
PACCAR, Inc.		820		67,519
Cummins, Inc.		333		64,446
Walgreens Boots Alliance, Inc.		1,690		64,051
Ross Stores, Inc.		829		58,221

S&P 500 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 78.5% (continued)
Consumer, Cyclical - 7.2% (continued)
Aptiv plc*		639	$	56,916
Copart, Inc.*		504		54,765
Tractor Supply Co.		264		51,176
Southwest Airlines Co.*		1,398		50,496
DR Horton, Inc.		755		49,973
Ulta Beauty, Inc.*		123		47,414
WW Grainger, Inc.		101		45,897
Genuine Parts Co.		334		44,422
Delta Air Lines, Inc.*		1,512		43,803
Lennar Corp. — Class A		610		43,048
CarMax, Inc.*		379		34,292
VF Corp.		761		33,613
Darden Restaurants, Inc.		294		33,257
Domino's Pizza, Inc.		85		33,125
Pool Corp.		94		33,016
Best Buy Company, Inc.		477		31,096
LKQ Corp.		614		30,141
NVR, Inc.*		7		28,029
United Airlines Holdings, Inc.*		770		27,273
Las Vegas Sands Corp.*		811		27,242
Live Nation Entertainment, Inc.*		323		26,673
Hasbro, Inc.		309		25,301
Advance Auto Parts, Inc.		144		24,925
MGM Resorts International		834		24,144
PulteGroup, Inc.		560		22,193
Whirlpool Corp.		133		20,598
American Airlines Group, Inc.*		1,531		19,413
Caesars Entertainment, Inc.*		505		19,341
BorgWarner, Inc.		565		18,854
Royal Caribbean Cruises Ltd.*		529		18,467
Tapestry, Inc.		594		18,129
Carnival Corp.*		1,914		16,556
Newell Brands, Inc.		868		16,527
Bath & Body Works, Inc.		562		15,129
Wynn Resorts Ltd.*		249		14,188
Alaska Air Group, Inc.*		297		11,895
Penn National Gaming, Inc.*		385		11,712
Norwegian Cruise Line Holdings Ltd.*,1		988		10,987
Ralph Lauren Corp. — Class A		109		9,772
PVH Corp.		159		9,047
Total Consumer, Cyclical				6,853,593
Industrial - 6.1%
Raytheon Technologies Corp.		3,507		337,058
United Parcel Service, Inc. — Class B		1,732		316,159
Union Pacific Corp.		1,481		315,868
Honeywell International, Inc.		1,605		278,965
Lockheed Martin Corp.		558		239,918
Caterpillar, Inc.		1,258		224,880
Deere & Co.		658		197,051
Boeing Co.*		1,311		179,240
3M Co.		1,342		173,668
General Electric Co.		2,595		165,224
Northrop Grumman Corp.		345		165,106
CSX Corp.		5,127		148,991
Waste Management, Inc.		901		137,835
Norfolk Southern Corp.		562		127,737
FedEx Corp.		562		127,411
Illinois Tool Works, Inc.		668		121,743
General Dynamics Corp.		543		120,139
Eaton Corporation plc		941		118,557
Emerson Electric Co.		1,401		111,435
L3Harris Technologies, Inc.		455		109,973
Amphenol Corp. — Class A		1,408		90,647
TE Connectivity Ltd.		760		85,994
Agilent Technologies, Inc.		708		84,089
Johnson Controls International plc		1,640		78,523
Parker-Hannifin Corp.		303		74,553
Trane Technologies plc		551		71,558
Carrier Global Corp.		2,000		71,320
Otis Worldwide Corp.		997		70,458
TransDigm Group, Inc.*		122		65,474
Republic Services, Inc. — Class A		492		64,388
Mettler-Toledo International, Inc.*		53		60,885
AMETEK, Inc.		544		59,780
Keysight Technologies, Inc.*		429		59,138
Old Dominion Freight Line, Inc.		216		55,356
Rockwell Automation, Inc.		274		54,611
Ball Corp.		754		51,853
Fortive Corp.		845		45,951
Vulcan Materials Co.		313		44,477
Amcor plc		3,543		44,039
Martin Marietta Materials, Inc.		147		43,988
Teledyne Technologies, Inc.*		110		41,262
Dover Corp.		340		41,249
Ingersoll Rand, Inc.		957		40,271
Expeditors International of Washington, Inc.		396		38,594
Jacobs Engineering Group, Inc.		303		38,521
Stanley Black & Decker, Inc.		356		37,330
Westinghouse Air Brake Technologies Corp.		431		35,376
Garmin Ltd.		360		35,370
Trimble, Inc.*		590		34,356
Xylem, Inc.		425		33,226
IDEX Corp.		179		32,512
Generac Holdings, Inc.*		151		31,798
J.B. Hunt Transport Services, Inc.		198		31,179
Textron, Inc.		507		30,962
CH Robinson Worldwide, Inc.		300		30,411
Packaging Corporation of America		221		30,387
Masco Corp.		556		28,134
Howmet Aerospace, Inc.		887		27,896
Nordson Corp.		127		25,710
Snap-on, Inc.		126		24,826
Westrock Co.		601		23,944
Huntington Ingalls Industries, Inc.		94		20,475
Allegion plc		207		20,265
Sealed Air Corp.		344		19,856
Fortune Brands Home & Security, Inc.		308		18,443
Pentair plc		390		17,851
A O Smith Corp.		307		16,787
Mohawk Industries, Inc.*		121		15,015
Total Industrial				5,816,046

S&P 500 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 78.5% (continued)
Energy - 3.5%
Exxon Mobil Corp.		9,933	$	850,662
Chevron Corp.		4,633		670,766
ConocoPhillips		3,050		273,921
EOG Resources, Inc.		1,381		152,518
Occidental Petroleum Corp.		2,099		123,589
Schlumberger N.V.		3,333		119,188
Pioneer Natural Resources Co.		531		118,455
Marathon Petroleum Corp.		1,276		104,900
Valero Energy Corp.		962		102,241
Phillips 66		1,134		92,977
Williams Companies, Inc.		2,872		89,635
Devon Energy Corp.		1,447		79,744
Kinder Morgan, Inc.		4,598		77,062
Hess Corp.		653		69,179
Halliburton Co.		2,127		66,703
Baker Hughes Co.		2,205		63,658
Enphase Energy, Inc.*		318		62,087
ONEOK, Inc.		1,053		58,442
Coterra Energy, Inc. — Class A		1,900		49,001
Diamondback Energy, Inc.		393		47,612
Marathon Oil Corp.		1,669		37,519
SolarEdge Technologies, Inc.*		131		35,852
APA Corp.		798		27,850
Total Energy				3,373,561
Utilities - 2.4%
NextEra Energy, Inc.		4,632		358,795
Duke Energy Corp.		1,815		194,586
Southern Co.		2,505		178,632
Dominion Energy, Inc.		1,913		152,677
American Electric Power Company, Inc.		1,211		116,183
Sempra Energy		741		111,350
Exelon Corp.		2,311		104,734
Xcel Energy, Inc.		1,284		90,856
Consolidated Edison, Inc.		835		79,408
WEC Energy Group, Inc.		744		74,876
Public Service Enterprise Group, Inc.		1,177		74,481
Eversource Energy		813		68,674
American Water Works Company, Inc.		429		63,822
DTE Energy Co.		457		57,925
Edison International		899		56,853
Ameren Corp.		609		55,029
Entergy Corp.		480		54,067
FirstEnergy Corp.		1,346		51,673
PPL Corp.		1,735		47,071
CMS Energy Corp.		684		46,170
Constellation Energy Corp.		770		44,090
CenterPoint Energy, Inc.		1,484		43,897
Atmos Energy Corp.		328		36,769
Evergy, Inc.		541		35,300
Alliant Energy Corp.		591		34,638
AES Corp.		1,575		33,091
NiSource, Inc.		957		28,222
NRG Energy, Inc.		559		21,337
Pinnacle West Capital Corp.		266		19,450
Total Utilities				2,334,656
Basic Materials - 1.6%
Linde plc		1,187		341,298
Sherwin-Williams Co.		564		126,285
Air Products and Chemicals, Inc.		523		125,771
Newmont Corp.		1,871		111,643
Freeport-McMoRan, Inc.		3,417		99,981
Ecolab, Inc.		586		90,103
Dow, Inc.		1,717		88,614
International Flavors & Fragrances, Inc.		601		71,591
DuPont de Nemours, Inc.		1,199		66,641
Nucor Corp.		627		65,465
PPG Industries, Inc.		557		63,687
Albemarle Corp.		276		57,679
LyondellBasell Industries N.V. — Class A		610		53,351
CF Industries Holdings, Inc.		492		42,179
Mosaic Co.		854		40,334
International Paper Co.		874		36,560
FMC Corp.		297		31,782
Celanese Corp. — Class A		255		29,991
Eastman Chemical Co.		304		27,290
Total Basic Materials				1,570,245
Total Common Stocks
(Cost $55,730,446)				75,222,495
		Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 5.2%
Federal Home Loan Bank
1.01% due 07/01/222	$	5,000,000		5,000,000
Total Federal Agency Discount Notes
(Cost $5,000,000)				5,000,000
U.S. TREASURY BILLS†† - 0.0%
U.S. Treasury Bills
1.02% due 07/19/222,3		32,000		31,984
Total U.S. Treasury Bills
(Cost $31,983)				31,984
REPURCHASE AGREEMENTS††,4 - 3.1%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/225		1,656,710		1,656,710
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/225		645,183		645,183
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/225		638,796		638,796
Total Repurchase Agreements
(Cost $2,940,689)				2,940,689
		Shares
SECURITIES LENDING COLLATERAL†,6 - 0.0%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%7		7,488		7,488
Total Securities Lending Collateral
(Cost $7,488)				7,488
Total Investments - 86.8%
(Cost $63,710,606)			$	83,202,656
Other Assets & Liabilities, net - 13.2%				12,664,899
Total Net Assets - 100.0%			$	95,867,555

S&P 500 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Purchased†
S&P 500 Index Mini Futures Contracts		2	Sep 2022	$	378,950	$	(3,205	)

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation (Depreciation)

OTC Equity Index Swap Agreements††

Goldman Sachs International

S&P 500 Index

Pay

2.03% (Federal Funds Rate + 0.45%)

At Maturity

11/17/22

2,486

$

9,408,635

$

12,509

BNP Paribas

S&P 500 Index

Pay

2.18% (Federal Funds Rate + 0.60%)

At Maturity

11/17/22

264

998,019

(118,844

)

Barclays Bank plc

S&P 500 Index

Pay

1.96% (SOFR + 0.45%)

At Maturity

11/16/22

2,602

9,849,643

(138,242

)

$

20,256,297

$

(244,577

)

*	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, 2022 — See Note 5.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as futures collateral at June 30, 2022.
4	Repurchase Agreements — See Note 4.
5	All or a portion of this security is pledged as equity index swap collateral at June 30, 2022.
6	Securities lending collateral — See Note 5.
7	Rate indicated is the 7-day yield as of June 30, 2022.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	75,222,495	$	—	$	—	$	75,222,495
Federal Agency Discount Notes		—		5,000,000		—		5,000,000
U.S. Treasury Bills		—		31,984		—		31,984
Repurchase Agreements		—		2,940,689		—		2,940,689
Securities Lending Collateral		7,488		—		—		7,488
Equity Index Swap Agreements**		—		12,509		—		12,509
Total Assets	$	75,229,983	$	7,985,182	$	—	$	83,215,165

S&P 500 ® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	3,205	$	—	$	—	$	3,205
Equity Index Swap Agreements**		—		257,086		—		257,086
Total Liabilities	$	3,205	$	257,086	$	—	$	260,291

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

S&P 500 ® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
Technology - 30.0%
Fortinet, Inc.*		33,313	$	1,884,850
KLA Corp.		4,063		1,296,422
Monolithic Power Systems, Inc.		3,327		1,277,701
NVIDIA Corp.		6,704		1,016,259
Advanced Micro Devices, Inc.*		12,940		989,522
Intuit, Inc.		2,406		927,369
QUALCOMM, Inc.		7,147		912,958
Microsoft Corp.		3,441		883,752
Applied Materials, Inc.		9,577		871,316
EPAM Systems, Inc.*		2,946		868,422
Oracle Corp.		11,880		830,055
Teradyne, Inc.		8,997		805,681
Apple, Inc.		5,689		777,800
ServiceNow, Inc.*		1,581		751,797
Cadence Design Systems, Inc.*		4,789		718,494
Lam Research Corp.		1,643		700,164
Adobe, Inc.*		1,715		627,793
MSCI, Inc. — Class A		1,508		621,522
Total Technology				16,761,877
Consumer, Non-cyclical - 19.9%
Eli Lilly & Co.		5,026		1,629,580
Regeneron Pharmaceuticals, Inc.*		2,097		1,239,600
Moderna, Inc.*		8,306		1,186,512
PerkinElmer, Inc.		7,580		1,078,028
Dexcom, Inc.*		13,856		1,032,687
Thermo Fisher Scientific, Inc.		1,619		879,570
Gartner, Inc.*		3,631		878,085
West Pharmaceutical Services, Inc.		2,838		858,126
Bio-Techne Corp.		1,883		652,723
Charles River Laboratories International, Inc.*		2,997		641,268
Equifax, Inc.		3,468		633,881
Align Technology, Inc.*		1,736		410,859
Total Consumer, Non-cyclical				11,120,919
Financial - 12.3%
Goldman Sachs Group, Inc.		5,166		1,534,405
Discover Financial Services		13,175		1,246,092
SVB Financial Group*		3,116		1,230,789
Signature Bank		5,164		925,440
First Republic Bank		5,388		776,950
Extra Space Storage, Inc. REIT		4,554		774,726
Camden Property Trust REIT		2,820		379,234
Total Financial				6,867,636
Consumer, Cyclical - 11.8%
Tesla, Inc.*		1,999		1,346,167
AutoZone, Inc.*		614		1,319,559
Tractor Supply Co.		6,121		1,186,556
O'Reilly Automotive, Inc.*		1,570		991,863
Pool Corp.		2,625		921,979
Lowe's Companies, Inc.		4,613		805,753
Total Consumer, Cyclical				6,571,877
Energy - 8.9%
Enphase Energy, Inc.*		9,122		1,780,979
Diamondback Energy, Inc.		14,076		1,705,308
Devon Energy Corp.		27,381		1,508,967
Total Energy				4,995,254
Communications - 7.6%
Arista Networks, Inc.*		9,770		915,840
Alphabet, Inc. — Class A*		314		684,288
Alphabet, Inc. — Class C*		292		638,735
Etsy, Inc.*		7,659		560,715
Amazon.com, Inc.*		5,181		550,274
Meta Platforms, Inc. — Class A*		3,226		520,192
Netflix, Inc.*		1,988		347,642
Total Communications				4,217,686
Industrial - 5.2%
Generac Holdings, Inc.*		5,205		1,096,069
Expeditors International of Washington, Inc.		10,786		1,051,203
Old Dominion Freight Line, Inc.		3,004		769,865
Total Industrial				2,917,137
Utilities - 3.8%
NRG Energy, Inc.		55,898		2,133,627
Total Common Stocks
(Cost $51,469,953)				55,586,013
		Face Amount
REPURCHASE AGREEMENTS††,1 - 0.7%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48%   due 07/01/22	$	210,184		210,184
Barclays Capital, Inc. issued 06/30/22 at 1.42%   due 07/01/22		81,853		81,853
BofA Securities, Inc. issued 06/30/22 at 1.44%   due 07/01/22		81,043		81,043
Total Repurchase Agreements
(Cost $373,080)				373,080
Total Investments - 100.2%
(Cost $51,843,033)			$	55,959,093
Other Assets & Liabilities, net - (0.2)%				(89,361	)
Total Net Assets - 100.0%			$	55,869,732

*	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.

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

S&P 500 ® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	55,586,013	$	—	$	—	$	55,586,013
Repurchase Agreements		—		373,080		—		373,080
Total Assets	$	55,586,013	$	373,080	$	—	$	55,959,093

S&P 500 ® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
Financial - 30.6%
Berkshire Hathaway, Inc. — Class B*		3,493	$	953,659
Allstate Corp.		6,703		849,471
Prudential Financial, Inc.		8,849		846,672
MetLife, Inc.		13,201		828,891
Loews Corp.		12,592		746,202
Everest Re Group Ltd.		2,513		704,344
American International Group, Inc.		13,052		667,349
Lincoln National Corp.		12,353		577,750
Travelers Companies, Inc.		3,310		559,820
Globe Life, Inc.		5,376		523,999
Aflac, Inc.		9,112		504,167
Assurant, Inc.		2,905		502,129
Hartford Financial Services Group, Inc.		7,246		474,106
Principal Financial Group, Inc.		6,968		465,393
Citigroup, Inc.		9,206		423,384
Invesco Ltd.		25,325		408,492
Chubb Ltd.		2,031		399,254
Citizens Financial Group, Inc.		10,338		368,963
M&T Bank Corp.		2,287		364,525
Wells Fargo & Co.		7,950		311,402
W R Berkley Corp.		4,186		285,736
Bank of New York Mellon Corp.		5,992		249,926
KeyCorp		14,341		247,096
Progressive Corp.		2,083		242,190
Truist Financial Corp.		4,682		222,067
Huntington Bancshares, Inc.		18,368		220,967
State Street Corp.		3,356		206,897
Fifth Third Bancorp		5,624		188,966
Kimco Realty Corp. REIT		8,985		177,634
U.S. Bancorp		3,250		149,565
PNC Financial Services Group, Inc.		775		122,272
Total Financial				13,793,288
Consumer, Non-cyclical - 22.7%
Cigna Corp.		3,915		1,031,681
Archer-Daniels-Midland Co.		10,894		845,375
Centene Corp.*		8,494		718,677
CVS Health Corp.		7,367		682,626
Tyson Foods, Inc. — Class A		7,645		657,929
Molson Coors Beverage Co. — Class B		11,000		599,610
Kraft Heinz Co.		15,631		596,166
Kroger Co.		10,773		509,886
Cardinal Health, Inc.		8,546		446,699
Universal Health Services, Inc. — Class B		4,187		421,673
AmerisourceBergen Corp. — Class A		2,967		419,771
Elevance Health, Inc.		815		393,303
Viatris, Inc.		36,389		380,993
Humana, Inc.		789		369,307
Conagra Brands, Inc.		10,065		344,626
Corteva, Inc.		6,008		325,273
Henry Schein, Inc.*		4,041		310,106
Nielsen Holdings plc		10,393		241,325
J M Smucker Co.		1,858		237,842
Sysco Corp.		2,515		213,046
Organon & Co.		5,322		179,618
Global Payments, Inc.		1,453		160,760
DaVita, Inc.*		1,803		144,168
Total Consumer, Non-cyclical				10,230,460
Energy - 9.5%
Valero Energy Corp.		8,285		880,530
Marathon Petroleum Corp.		10,679		877,920
Phillips 66		7,831		642,064
Baker Hughes Co.		16,340		471,736
Exxon Mobil Corp.		4,353		372,791
Marathon Oil Corp.		16,534		371,684
Kinder Morgan, Inc.		21,254		356,217
Chevron Corp.		2,162		313,014
Total Energy				4,285,956
Consumer, Cyclical - 7.8%
Walgreens Boots Alliance, Inc.		13,468		510,437
BorgWarner, Inc.		12,142		405,178
Whirlpool Corp.		2,203		341,179
General Motors Co.*		10,389		329,955
PulteGroup, Inc.		7,473		296,155
Ford Motor Co.		25,633		285,295
Best Buy Company, Inc.		4,312		281,100
Lennar Corp. — Class A		3,480		245,584
PVH Corp.		4,026		229,079
Walmart, Inc.		1,745		212,157
Alaska Air Group, Inc.*		4,686		187,674
PACCAR, Inc.		2,110		173,737
Total Consumer, Cyclical				3,497,530
Communications - 6.8%
Paramount Global — Class B		25,507		629,513
AT&T, Inc.		23,940		501,783
Lumen Technologies, Inc.		44,313		483,455
DISH Network Corp. — Class A*		20,059		359,658
Verizon Communications, Inc.		3,867		196,250
Omnicom Group, Inc.		2,920		185,741
T-Mobile US, Inc.*		1,304		175,440
Fox Corp. — Class A		5,174		166,396
News Corp. — Class A		10,290		160,318
Warner Bros Discovery, Inc.*		8,077		108,393
Fox Corp. — Class B		2,396		71,161
News Corp. — Class B		3,150		50,054
Total Communications				3,088,162
Utilities - 6.6%
Pinnacle West Capital Corp.		5,670		414,590
Consolidated Edison, Inc.		3,357		319,251
Entergy Corp.		2,102		236,769
Exelon Corp.		5,113		231,721
Atmos Energy Corp.		2,011		225,433
Evergy, Inc.		3,177		207,299
PPL Corp.		7,120		193,166
American Electric Power Company, Inc.		1,926		184,780
Duke Energy Corp.		1,636		175,396
Edison International		2,766		174,922
Sempra Energy		1,139		171,158
DTE Energy Co.		1,329		168,451
NiSource, Inc.		5,578		164,495
Constellation Energy Corp.		1,704		97,571
Total Utilities				2,965,002

S&P 500 ® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5% (continued)
Industrial - 6.0%
Westrock Co.		18,380	$	732,259
Huntington Ingalls Industries, Inc.		1,910		416,036
FedEx Corp.		1,706		386,767
Mohawk Industries, Inc.*		2,771		343,854
CH Robinson Worldwide, Inc.		3,259		330,365
Raytheon Technologies Corp.		2,106		202,408
Westinghouse Air Brake Technologies Corp.		1,940		159,235
Textron, Inc.		2,342		143,026
Total Industrial				2,713,950
Basic Materials - 4.9%
Mosaic Co.		14,280		674,445
LyondellBasell Industries N.V. — Class A		5,117		447,533
International Paper Co.		10,068		421,145
Dow, Inc.		7,512		387,694
DuPont de Nemours, Inc.		3,116		173,187
Eastman Chemical Co.		1,381		123,972
Total Basic Materials				2,227,976
Technology - 4.6%
DXC Technology Co.*		21,345		646,967
Hewlett Packard Enterprise Co.		44,219		586,344
Western Digital Corp.*		7,278		326,273
Leidos Holdings, Inc.		2,806		282,592
Fidelity National Information Services, Inc.		1,308		119,904
Intel Corp.		3,159		118,178
Total Technology				2,080,258
Total Common Stocks
(Cost $50,151,635)				44,882,582
		Face Amount
REPURCHASE AGREEMENTS††,1 - 0.7%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	189,402		189,402
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		73,760		73,760
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		73,030		73,030
Total Repurchase Agreements
(Cost $336,192)				336,192
Total Investments - 100.2%
(Cost $50,487,827)			$	45,218,774
Other Assets & Liabilities, net - (0.2)%				(107,140	)
Total Net Assets - 100.0%			$	45,111,634

*	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, 2022 (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	$	44,882,582	$	—	$	—	$	44,882,582
Repurchase Agreements		—		336,192		—		336,192
Total Assets	$	44,882,582	$	336,192	$	—	$	45,218,774

S&P MidCap 400® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.6%
Consumer, Non-cyclical - 23.4%
Shockwave Medical, Inc.*		9,071	$	1,734,103
Option Care Health, Inc.*		16,753		465,566
Medpace Holdings, Inc.*		3,034		454,099
FTI Consulting, Inc.*		2,182		394,615
Repligen Corp.*		2,345		380,828
Tenet Healthcare Corp.*		7,003		368,077
Neurocrine Biosciences, Inc.*		3,426		333,966
Inari Medical, Inc.*		4,897		332,947
STAAR Surgical Co.*		3,664		259,888
Service Corporation International		3,639		251,528
Bruker Corp.		3,937		247,086
Tandem Diabetes Care, Inc.*		4,085		241,791
Paylocity Holding Corp.*		1,315		229,362
QuidelOrtho Corp.*		2,338		227,207
ASGN, Inc.*		2,478		223,639
Avis Budget Group, Inc.*		1,483		218,120
Darling Ingredients, Inc.*		3,263		195,127
GXO Logistics, Inc.*		4,022		174,032
Arrowhead Pharmaceuticals, Inc.*		4,694		165,276
Syneos Health, Inc.*		2,260		161,997
Total Consumer, Non-cyclical				7,059,254
Financial - 20.2%
SLM Corp.		51,821		826,027
Navient Corp.		56,827		795,010
Jefferies Financial Group, Inc.		23,974		662,162
Evercore, Inc. — Class A		4,917		460,280
Pinnacle Financial Partners, Inc.		5,999		433,788
Stifel Financial Corp.		6,450		361,329
East West Bancorp, Inc.		5,300		343,440
Life Storage, Inc. REIT		2,859		319,236
PacWest Bancorp		11,816		315,015
UMB Financial Corp.		3,500		301,350
Affiliated Managers Group, Inc.		2,396		279,373
National Storage Affiliates Trust REIT		5,407		270,728
Independence Realty Trust, Inc. REIT		12,141		251,683
Kinsale Capital Group, Inc.		1,074		246,633
First Financial Bankshares, Inc.		5,760		226,195
Total Financial				6,092,249
Consumer, Cyclical - 16.6%
Dick's Sporting Goods, Inc.1		8,020		604,468
Williams-Sonoma, Inc.		3,772		418,503
Mattel, Inc.*		17,624		393,544
Fox Factory Holding Corp.*		4,759		383,290
Tempur Sealy International, Inc.		17,840		381,241
Deckers Outdoor Corp.*		1,320		337,062
Crocs, Inc.*		5,763		280,485
Churchill Downs, Inc.		1,413		270,632
GameStop Corp. — Class A*,1		2,040		249,492
Boyd Gaming Corp.		4,808		239,198
Five Below, Inc.*		2,024		229,582
YETI Holdings, Inc.*		5,267		227,903
Avient Corp.		5,584		223,807
Light & Wonder, Inc. — Class A*		4,317		202,856
Brunswick Corp.		2,833		185,221
Wingstop, Inc.		2,361		176,532
Scotts Miracle-Gro Co. — Class A		1,523		120,302
RH*		458		97,215
Total Consumer, Cyclical				5,021,333
Industrial - 12.9%
Louisiana-Pacific Corp.		14,778		774,515
Builders FirstSource, Inc.*		9,213		494,738
Eagle Materials, Inc.		2,763		303,764
Axon Enterprise, Inc.*		3,152		293,672
Saia, Inc.*		1,531		287,828
Trex Company, Inc.*		4,887		265,951
TopBuild Corp.*		1,490		249,068
Carlisle Companies, Inc.		970		231,451
Valmont Industries, Inc.		925		207,783
Chart Industries, Inc.*		1,062		177,758
Simpson Manufacturing Company, Inc.		1,623		163,290
Tetra Tech, Inc.		1,159		158,261
Watts Water Technologies, Inc. — Class A		1,275		156,621
Vicor Corp.*		2,575		140,930
Total Industrial				3,905,630
Technology - 9.8%
Concentrix Corp.		5,116		693,934
Azenta, Inc.		4,846		349,397
Power Integrations, Inc.		3,906		292,989
Teradata Corp.*		7,561		279,833
Maximus, Inc.		4,265		266,605
Qualys, Inc.*		2,032		256,317
Lattice Semiconductor Corp.*		4,237		205,494
Silicon Laboratories, Inc.*		1,341		188,035
Ziff Davis, Inc.*		2,472		184,238
SiTime Corp.*		879		143,303
Synaptics, Inc.*		754		89,010
Total Technology				2,949,155
Energy - 8.9%
Matador Resources Co.		14,040		654,124
Antero Midstream Corp.		64,169		580,730
Targa Resources Corp.		9,029		538,760
Murphy Oil Corp.		16,873		509,396
PDC Energy, Inc.		6,415		395,228
Total Energy				2,678,238
Basic Materials - 6.9%
Steel Dynamics, Inc.		10,691		707,210
Cleveland-Cliffs, Inc.*		44,727		687,454
Olin Corp.		8,326		385,327
Valvoline, Inc.		10,488		302,369
Total Basic Materials				2,082,360
Communications - 0.9%
Calix, Inc.*		7,472		255,094
Total Common Stocks
(Cost $32,619,974)				30,043,313

S&P MidCap 400® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Face Amount		Value
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	107,206	$	107,206
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		41,750		41,750
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		41,337		41,337
Total Repurchase Agreements
(Cost $190,293)				190,293

	Shares
SECURITIES LENDING COLLATERAL†,3 - 2.2%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		662,689	$	662,689
Total Securities Lending Collateral
(Cost $662,689)				662,689
Total Investments - 102.4%
(Cost $33,472,956)			$	30,896,295
Other Assets & Liabilities, net - (2.4)%				(713,963	)
Total Net Assets - 100.0%			$	30,182,332

*	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, 2022 — 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, 2022.

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, 2022 (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	$	30,043,313	$	—	$	—	$	30,043,313
Repurchase Agreements		—		190,293		—		190,293
Securities Lending Collateral		662,689		—		—		662,689
Total Assets	$	30,706,002	$	190,293	$	—	$	30,896,295

S&P MidCap 400® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.4%
Financial - 31.6%
Unum Group		19,482	$	662,778
Reinsurance Group of America, Inc. — Class A		4,363		511,736
Alleghany Corp.*		455		379,060
Kemper Corp.		6,422		307,614
CNO Financial Group, Inc.		15,793		285,695
Old Republic International Corp.		12,377		276,750
Voya Financial, Inc.		4,351		259,015
Hanover Insurance Group, Inc.		1,743		254,914
Mercury General Corp.		5,666		251,004
First Horizon Corp.		9,853		215,387
FNB Corp.		16,326		177,300
MGIC Investment Corp.		13,465		169,659
Fulton Financial Corp.		11,243		162,461
Associated Banc-Corp.		8,827		161,181
Texas Capital Bancshares, Inc.*		2,888		152,024
New York Community Bancorp, Inc.		15,340		140,054
United Bankshares, Inc.		3,965		139,053
Selective Insurance Group, Inc.		1,508		131,105
Essent Group Ltd.		3,301		128,409
Cadence Bank		5,286		124,115
Prosperity Bancshares, Inc.		1,813		123,774
Bread Financial Holdings, Inc.		3,290		121,927
RenaissanceRe Holdings Ltd.		702		109,772
International Bancshares Corp.		2,720		109,018
SL Green Realty Corp. REIT		2,336		107,806
Old National Bancorp		7,285		107,745
Washington Federal, Inc.		3,281		98,496
Sabra Health Care REIT, Inc.		6,478		90,498
Valley National Bancorp		7,673		79,876
Total Financial				5,838,226
Consumer, Cyclical - 20.1%
Lithia Motors, Inc. — Class A		1,052		289,100
Taylor Morrison Home Corp. — Class A*		11,481		268,196
Kohl's Corp.		6,861		244,869
Univar Solutions, Inc.*		9,327		231,962
Murphy USA, Inc.		953		221,925
Thor Industries, Inc.1		2,871		214,550
Adient plc*		7,042		208,655
KB Home		7,092		201,838
Foot Locker, Inc.		7,842		198,011
Dana, Inc.		12,855		180,870
Lear Corp.		1,315		165,545
Macy's, Inc.		8,922		163,451
Goodyear Tire & Rubber Co.*		15,259		163,424
Nu Skin Enterprises, Inc. — Class A		3,473		150,381
Gap, Inc.		17,843		147,026
Toll Brothers, Inc.		2,489		111,010
Callaway Golf Co.*		5,259		107,284
Nordstrom, Inc.1		5,008		105,819
BJ's Wholesale Club Holdings, Inc.*		1,554		96,845
JetBlue Airways Corp.*		10,869		90,974
MillerKnoll, Inc.		2,712		71,244
Harley-Davidson, Inc.		2,166		68,575
Total Consumer, Cyclical				3,701,554
Industrial - 17.4%
Avnet, Inc.		11,559		495,650
Arrow Electronics, Inc.*		2,613		292,891
Greif, Inc. — Class A		4,216		262,994
Ryder System, Inc.		3,649		259,298
TD SYNNEX Corp.		2,558		233,034
Worthington Industries, Inc.		4,589		202,375
Fluor Corp.*		6,136		149,350
MDU Resources Group, Inc.		5,463		147,447
Vishay Intertechnology, Inc.		8,077		143,932
AGCO Corp.		1,210		119,427
EMCOR Group, Inc.		1,046		107,696
Owens Corning		1,384		102,845
Kirby Corp.*		1,636		99,534
Silgan Holdings, Inc.		2,343		96,883
XPO Logistics, Inc.*		1,787		86,062
Oshkosh Corp.		935		76,801
EnerSys		1,294		76,294
Knight-Swift Transportation Holdings, Inc.		1,613		74,666
Werner Enterprises, Inc.		1,760		67,830
Terex Corp.		2,363		64,675
Timken Co.		1,095		58,090
Total Industrial				3,217,774
Consumer, Non-cyclical - 9.2%
Graham Holdings Co. — Class B		556		315,163
Performance Food Group Co.*		4,999		229,854
Sprouts Farmers Market, Inc.*		8,875		224,715
ManpowerGroup, Inc.		2,888		220,672
Patterson Companies, Inc.		6,970		211,191
Pilgrim's Pride Corp.*		6,668		208,242
Perrigo Company plc		4,928		199,929
Ingredion, Inc.		1,034		91,157
Total Consumer, Non-cyclical				1,700,923
Basic Materials - 6.7%
United States Steel Corp.		19,845		355,424
Commercial Metals Co.		9,461		313,159
Reliance Steel & Aluminum Co.		1,505		255,639
Minerals Technologies, Inc.		2,103		128,998
Cabot Corp.		1,723		109,910
Chemours Co.		2,384		76,336
Total Basic Materials				1,239,466
Utilities - 5.5%
Southwest Gas Holdings, Inc.		2,420		210,734
Spire, Inc.		2,646		196,783
UGI Corp.		3,627		140,038
NorthWestern Corp.		2,022		119,157
Portland General Electric Co.		1,889		91,295
ONE Gas, Inc.		1,122		91,095
ALLETE, Inc.		1,485		87,288
Hawaiian Electric Industries, Inc.		1,944		79,510
Total Utilities				1,015,900
Energy - 4.9%
HF Sinclair Corp.		13,694		618,421
NOV, Inc.		13,627		230,433
Equitrans Midstream Corp.		8,855		56,318
Total Energy				905,172
Technology - 3.5%
Xerox Holdings Corp.		21,036		312,385

S&P MidCap 400® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.4% (continued)
Technology - 3.5% (continued)
Science Applications International Corp.		1,646	$	153,242
CACI International, Inc. — Class A*		369		103,977
Kyndryl Holdings, Inc.*		7,909		77,350
Total Technology				646,954
Communications - 0.5%
Viasat, Inc.*		2,988		91,523
Total Common Stocks
(Cost $18,706,222)				18,357,492

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	69,166	69,166
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		26,936	26,936
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		26,669	26,669
Total Repurchase Agreements
(Cost $122,771)			122,771

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.5%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		83,513		83,513
Total Securities Lending Collateral
(Cost $83,513)				83,513
Total Investments - 100.6%
(Cost $18,912,506)			$	18,563,776
Other Assets & Liabilities, net - (0.6)%				(113,686	)
Total Net Assets - 100.0%			$	18,450,090

*	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, 2022 — 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, 2022.

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, 2022 (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	$	18,357,492	$	—	$	—	$	18,357,492
Repurchase Agreements		—		122,771		—		122,771
Securities Lending Collateral		83,513		—		—		83,513
Total Assets	$	18,441,005	$	122,771	$	—	$	18,563,776

S&P SmallCap 600® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.7%
Consumer, Non-cyclical - 31.2%
Vir Biotechnology, Inc.*		19,704	$	501,861
Dynavax Technologies Corp.*		36,397		458,238
Celsius Holdings, Inc.*		4,946		322,776
Fulgent Genetics, Inc.*		5,634		307,222
Innoviva, Inc.*		17,223		254,212
United Natural Foods, Inc.*		6,385		251,569
Simply Good Foods Co.*		6,569		248,111
MGP Ingredients, Inc.		2,364		236,613
AMN Healthcare Services, Inc.*		2,102		230,611
Cross Country Healthcare, Inc.*		10,442		217,507
Avid Bioservices, Inc.*		12,893		196,747
Coca-Cola Consolidated, Inc.		346		195,109
Organogenesis Holdings, Inc.*		37,390		182,463
Collegium Pharmaceutical, Inc.*		8,828		156,432
Cara Therapeutics, Inc.*		16,484		150,499
uniQure N.V.*		7,691		143,360
Medifast, Inc.		739		133,397
Ligand Pharmaceuticals, Inc. — Class B*		1,470		131,153
Korn Ferry		2,256		130,893
Heidrick & Struggles International, Inc.		3,951		127,854
AngioDynamics, Inc.*		6,564		127,013
iTeos Therapeutics, Inc.*		5,881		121,149
Arcus Biosciences, Inc.*		4,744		120,213
Inter Parfums, Inc.		1,561		114,047
CorVel Corp.*		774		113,987
Supernus Pharmaceuticals, Inc.*		3,621		104,719
Vericel Corp.*		3,939		99,184
Vector Group Ltd.		8,999		94,490
Omnicell, Inc.*		790		89,862
Community Health Systems, Inc.*		22,542		84,533
Xencor, Inc.*		2,833		77,539
Alarm.com Holdings, Inc.*		1,244		76,954
Joint Corp.*		4,878		74,682
Zynex, Inc.		8,919		71,174
RadNet, Inc.*		3,412		58,959
BioLife Solutions, Inc.*		3,871		53,459
Heska Corp.*		474		44,798
Total Consumer, Non-cyclical				6,103,389
Financial - 22.5%
First BanCorp		22,247		287,209
B Riley Financial, Inc.		6,454		272,681
ServisFirst Bancshares, Inc.		3,299		260,357
Piper Sandler Cos.		2,250		255,060
Customers Bancorp, Inc.*		7,313		247,911
Flagstar Bancorp, Inc.		6,975		247,264
Preferred Bank/Los Angeles CA		3,034		206,373
Meta Financial Group, Inc.		5,222		201,935
St. Joe Co.		4,693		185,655
Enova International, Inc.*		6,234		179,664
Walker & Dunlop, Inc.		1,800		173,412
Triumph Bancorp, Inc.*		2,722		170,288
HomeStreet, Inc.		4,824		167,248
HCI Group, Inc.		2,407		163,098
Veritex Holdings, Inc.		5,574		163,095
Palomar Holdings, Inc.*		2,383		153,465
Axos Financial, Inc.*		4,269		153,044
Virtus Investment Partners, Inc.		791		135,277
World Acceptance Corp.*		1,175		131,882
Redwood Trust, Inc. REIT		16,643		128,318
Innovative Industrial Properties, Inc. REIT		1,151		126,460
Bancorp, Inc.*		6,474		126,372
NexPoint Residential Trust, Inc. REIT		1,678		104,892
Brightsphere Investment Group, Inc.		4,579		82,468
Trupanion, Inc.*		956		57,609
Douglas Elliman, Inc.		4,499		21,550
Total Financial				4,402,587
Industrial - 13.3%
Dorian LPG Ltd.		22,899		348,065
Encore Wire Corp.		3,099		322,048
MYR Group, Inc.*		2,705		238,392
Mueller Industries, Inc.		4,189		223,232
Comfort Systems USA, Inc.		2,581		214,610
UFP Industries, Inc.		3,082		210,008
Insteel Industries, Inc.		5,164		173,872
NV5 Global, Inc.*		1,484		173,242
Matson, Inc.		2,353		171,486
ArcBest Corp.		1,886		132,718
Fabrinet*		1,553		125,948
Sturm Ruger & Company, Inc.		1,723		109,669
Advanced Energy Industries, Inc.		1,163		84,876
Triumph Group, Inc.*		4,852		64,483
Total Industrial				2,592,649
Consumer, Cyclical - 11.9%
Hibbett, Inc.		5,747		251,201
XPEL, Inc.*		5,201		238,882
MarineMax, Inc.*		5,596		202,128
Vista Outdoor, Inc.*		6,714		187,320
Century Communities, Inc.		3,909		175,788
Signet Jewelers Ltd.		2,918		155,996
Movado Group, Inc.		4,864		150,444
Shoe Carnival, Inc.		6,936		149,887
Boot Barn Holdings, Inc.*		2,150		148,157
LGI Homes, Inc.*		1,656		143,906
Buckle, Inc.		4,422		122,445
Cavco Industries, Inc.*		498		97,603
Sleep Number Corp.*		2,694		83,379
Children's Place, Inc.*		2,107		82,004
Installed Building Products, Inc.		972		80,832
Gentherm, Inc.*		959		59,851
Total Consumer, Cyclical				2,329,823
Technology - 9.9%
Kulicke & Soffa Industries, Inc.		5,947		254,591
Onto Innovation, Inc.*		3,224		224,842
MaxLinear, Inc. — Class A*		4,645		157,837
ExlService Holdings, Inc.*		957		140,995
Axcelis Technologies, Inc.*		2,445		134,084
Veeco Instruments, Inc.*		6,750		130,950
Diodes, Inc.*		1,853		119,648
Digital Turbine, Inc.*		6,751		117,940
Ultra Clean Holdings, Inc.*		3,808		113,364
Rambus, Inc.*		5,152		110,717
SPS Commerce, Inc.*		791		89,422

S&P SmallCap 600® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.7% (continued)
Technology - 9.9% (continued)
Donnelley Financial Solutions, Inc.*		2,975	$	87,138
TTEC Holdings, Inc.		1,171		79,499
Apollo Medical Holdings, Inc.*		2,000		77,180
3D Systems Corp.*		7,344		71,237
Diebold Nixdorf, Inc.*		15,208		34,522
Total Technology				1,943,966
Communications - 6.9%
TechTarget, Inc.*		3,581		235,343
Perficient, Inc.*		1,820		166,876
OptimizeRx Corp.*		5,743		157,301
A10 Networks, Inc.		10,792		155,189
Thryv Holdings, Inc.*		5,474		122,563
Liquidity Services, Inc.*		7,659		102,937
Extreme Networks, Inc.*		10,753		95,917
Vonage Holdings Corp.*		4,982		93,861
Harmonic, Inc.*		9,977		86,500
ADTRAN, Inc.		4,060		71,172
Shutterstock, Inc.		1,060		60,748
Total Communications				1,348,407
Energy - 3.0%
Civitas Resources, Inc.		4,324		226,102
Callon Petroleum Co.*		3,477		136,298
SM Energy Co.		3,598		123,016
Ranger Oil Corp. — Class A*		2,774		91,181
Total Energy				576,597
Basic Materials - 1.0%
Rogers Corp.*		493		129,210
Balchem Corp.		509		66,038
Total Basic Materials				195,248
Total Common Stocks
(Cost $20,238,150)				19,492,666

	Face Amount
REPURCHASE AGREEMENTS††,1 - 0.3%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	34,234		34,234
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		13,332		13,332
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		13,200		13,200
Total Repurchase Agreements
(Cost $60,766)				60,766
Total Investments - 100.0%
(Cost $20,298,916)			$	19,553,432
Other Assets & Liabilities, net - 0.0%				2,804
Total Net Assets - 100.0%			$	19,556,236

*	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.

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, 2022 (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	$	19,492,666	$	—	$	—	$	19,492,666
Repurchase Agreements		—		60,766		—		60,766
Total Assets	$	19,492,666	$	60,766	$	—	$	19,553,432

S&P SmallCap 600® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.0%
Financial - 23.0%
United Fire Group, Inc.		12,617	$	431,880
StoneX Group, Inc.*		4,332		338,199
Genworth Financial, Inc. — Class A*		83,935		296,291
GEO Group, Inc. REIT*		44,257		292,096
EZCORP, Inc. — Class A*		36,647		275,219
Universal Insurance Holdings, Inc.		20,871		271,949
American Equity Investment Life Holding Co.		6,435		235,328
SiriusPoint Ltd.*		42,334		229,450
Anywhere Real Estate, Inc.*		20,958		206,017
Mr Cooper Group, Inc.*		5,503		202,180
Horace Mann Educators Corp.		4,872		186,987
ProAssurance Corp.		7,825		184,905
Employers Holdings, Inc.		4,164		174,430
Safety Insurance Group, Inc.		1,580		153,418
Heritage Financial Corp.		5,231		131,612
Hope Bancorp, Inc.		7,966		110,250
Two Harbors Investment Corp. REIT		20,336		101,273
Ready Capital Corp. REIT		8,148		97,124
PennyMac Mortgage Investment Trust REIT		6,795		93,975
Franklin BSP Realty Trust, Inc. REIT		6,810		91,799
S&T Bancorp, Inc.		3,270		89,696
First Financial Bancorp		4,406		85,476
Renasant Corp.		2,958		85,220
Granite Point Mortgage Trust, Inc. REIT		8,759		83,824
Allegiance Bancshares, Inc.		2,194		82,846
New York Mortgage Trust, Inc. REIT		28,832		79,576
Columbia Banking System, Inc.		2,773		79,447
Northwest Bancshares, Inc.		6,193		79,270
Apollo Commercial Real Estate Finance, Inc. REIT		7,484		78,133
Trustmark Corp.		2,660		77,645
ARMOUR Residential REIT, Inc.		10,896		76,708
TrustCo Bank Corporation NY		2,460		75,866
Franklin Street Properties Corp. REIT		17,526		73,084
Berkshire Hills Bancorp, Inc.		2,865		70,966
NMI Holdings, Inc. — Class A*		3,969		66,084
Diversified Healthcare Trust REIT		35,541		64,685
Office Properties Income Trust REIT		2,994		59,730
Simmons First National Corp. — Class A		2,804		59,613
PRA Group, Inc.*		1,572		57,158
BankUnited, Inc.		1,595		56,734
RE/MAX Holdings, Inc. — Class A		2,101		51,517
eHealth, Inc.*		4,937		46,062
Orion Office REIT, Inc.		3,943		43,215
Invesco Mortgage Capital, Inc. REIT		2,666		39,137
Total Financial				5,766,074
Consumer, Cyclical - 21.8%
ScanSource, Inc.*		8,634		268,863
Titan International, Inc.*		15,430		232,993
World Fuel Services Corp.		10,986		224,773
Meritor, Inc.*		5,922		215,146
Chico's FAS, Inc.*		42,646		211,951
Tri Pointe Homes, Inc.*		11,963		201,816
Motorcar Parts of America, Inc.*		15,187		199,253
M/I Homes, Inc.*		4,947		196,198
America's Car-Mart, Inc.*		1,917		192,850
PC Connection, Inc.		4,253		187,345
Group 1 Automotive, Inc.		1,082		183,724
G-III Apparel Group Ltd.*		8,848		178,995
ODP Corp.*		5,905		178,567
Cato Corp. — Class A		15,135		175,717
Sonic Automotive, Inc. — Class A		4,371		160,110
Haverty Furniture Companies, Inc.		6,320		146,498
Big Lots, Inc.		6,312		132,363
American Axle & Manufacturing Holdings, Inc.*		17,166		129,260
Conn's, Inc.*		15,893		127,462
Caleres, Inc.		4,856		127,421
LL Flooring Holdings, Inc.*		12,959		121,426
MDC Holdings, Inc.		3,726		120,387
Ethan Allen Interiors, Inc.		5,576		112,691
Wabash National Corp.		8,263		112,212
KAR Auction Services, Inc.*		7,317		108,072
Resideo Technologies, Inc.*		5,554		107,859
Guess?, Inc.1		6,191		105,556
PriceSmart, Inc.		1,466		105,010
Veritiv Corp.*		966		104,859
SkyWest, Inc.*		4,875		103,594
Urban Outfitters, Inc.*		5,380		100,391
Fossil Group, Inc.*		17,094		88,376
Standard Motor Products, Inc.		1,829		82,287
La-Z-Boy, Inc.		3,347		79,357
Bloomin' Brands, Inc.		4,599		76,435
Universal Electronics, Inc.*		2,625		67,121
El Pollo Loco Holdings, Inc.*		6,533		64,285
Brinker International, Inc.*		2,067		45,536
Zumiez, Inc.*		1,608		41,808
Tupperware Brands Corp.*		5,875		37,247
Bed Bath & Beyond, Inc.*,1		4,664		23,180
Total Consumer, Cyclical				5,478,994
Consumer, Non-cyclical - 18.6%
Seneca Foods Corp. — Class A*		7,344		407,886
Kelly Services, Inc. — Class A		19,556		387,795
Universal Corp.		6,197		374,918
Fresh Del Monte Produce, Inc.		12,137		358,406
SpartanNash Co.		11,433		344,934
TreeHouse Foods, Inc.*		6,549		273,879
Andersons, Inc.		8,184		269,990
Perdoceo Education Corp.*		16,782		197,692
Aaron's Company, Inc.		13,477		196,090
Strategic Education, Inc.		2,729		192,613
CoreCivic, Inc.*		15,862		176,227

S&P SmallCap 600® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.0% (continued)
Consumer, Non-cyclical - 18.6% (continued)
ABM Industries, Inc.		3,732	$	162,043
Covetrus, Inc.*		7,495		155,521
Quanex Building Products Corp.		6,017		136,887
American Public Education, Inc.*		8,366		135,195
Resources Connection, Inc.		5,797		118,085
TrueBlue, Inc.*		6,510		116,529
Hostess Brands, Inc.*		5,188		110,037
Select Medical Holdings Corp.		4,398		103,881
Owens & Minor, Inc.		3,215		101,112
Adtalem Global Education, Inc.*		2,801		100,752
Central Garden & Pet Co. — Class A*		1,853		74,138
Edgewell Personal Care Co.		1,746		60,272
Emergent BioSolutions, Inc.*		1,563		48,515
Deluxe Corp.		1,810		39,223
Central Garden & Pet Co.*		454		19,259
Total Consumer, Non-cyclical				4,661,879
Industrial - 14.6%
Olympic Steel, Inc.		15,044		387,383
TimkenSteel Corp.*		19,548		365,743
Sanmina Corp.*		7,113		289,712
Benchmark Electronics, Inc.		11,466		258,673
AAR Corp.*		5,780		241,835
TTM Technologies, Inc.*		16,459		205,738
Atlas Air Worldwide Holdings, Inc.*		3,196		197,225
Powell Industries, Inc.		8,247		192,732
DXP Enterprises, Inc.*		5,777		176,950
Greenbrier Companies, Inc.		4,680		168,433
Griffon Corp.		5,441		152,511
Tredegar Corp.		14,897		148,970
Moog, Inc. — Class A		1,672		132,740
O-I Glass, Inc.*		9,134		127,876
American Woodmark Corp.*		2,703		121,662
Granite Construction, Inc.		4,019		117,114
Hub Group, Inc. — Class A*		1,203		85,341
Matthews International Corp. — Class A		2,863		82,082
Plexus Corp.*		910		71,435
Harsco Corp.*		10,035		71,349
Arcosa, Inc.		1,332		61,845
Total Industrial				3,657,349
Energy - 8.6%
PBF Energy, Inc. — Class A*		14,604		423,808
SunCoke Energy, Inc.		43,227		294,376
CONSOL Energy, Inc.*		3,959		195,495
US Silica Holdings, Inc.*		15,771		180,105
Helix Energy Solutions Group, Inc.*		52,804		163,692
NOW, Inc.*		15,458		151,179
Oil States International, Inc.*		26,521		143,744
Nabors Industries Ltd.*		807		108,057
REX American Resources Corp.*		1,152		97,690
ProPetro Holding Corp.*		8,735		87,350
Oceaneering International, Inc.*		7,581		80,965
Bristow Group, Inc.*		3,432		80,309
FutureFuel Corp.		10,397		75,690
Archrock, Inc.		8,085		66,863
Total Energy				2,149,323
Basic Materials - 7.4%
Mercer International, Inc.		25,332		333,116
American Vanguard Corp.		10,461		233,804
Unifi, Inc.*		13,019		183,047
Koppers Holdings, Inc.		7,169		162,306
Trinseo plc		3,945		151,725
Clearwater Paper Corp.*		4,354		146,425
Schweitzer-Mauduit International, Inc.		5,342		134,191
Sylvamo Corp.		4,086		133,530
Rayonier Advanced Materials, Inc.*		42,481		111,300
Carpenter Technology Corp.		2,794		77,980
Arconic Corp.*		2,406		67,489
Kaiser Aluminum Corp.		781		61,769
Glatfelter Corp.		8,375		57,620
Total Basic Materials				1,854,302
Communications - 3.2%
Telephone & Data Systems, Inc.		15,777		249,119
NETGEAR, Inc.*		8,361		154,846
AMC Networks, Inc. — Class A*		4,868		141,756
ATN International, Inc.		3,006		141,011
Scholastic Corp.		3,046		109,565
Total Communications				796,297
Technology - 1.8%
Photronics, Inc.*		7,858		153,074
Insight Enterprises, Inc.*		1,508		130,110
Consensus Cloud Solutions, Inc.*		2,159		94,305
Ebix, Inc.1		3,330		56,277
Loyalty Ventures, Inc.*		6,909		24,665
Total Technology				458,431
Total Common Stocks
(Cost $25,833,296)				24,822,649

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	81,955	81,955
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		31,916	31,916
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		31,600	31,600
Total Repurchase Agreements
(Cost $145,471)			145,471

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.5%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		129,133		129,133
Total Securities Lending Collateral
(Cost $129,133)				129,133
Total Investments - 100.1%
(Cost $26,107,900)			$	25,097,253
Other Assets & Liabilities, net - (0.1)%				(23,870	)
Total Net Assets - 100.0%			$	25,073,383

S&P SmallCap 600® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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, 2022 — 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, 2022.

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, 2022 (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	$	24,822,649	$	—	$	—	$	24,822,649
Repurchase Agreements		—		145,471		—		145,471
Securities Lending Collateral		129,133		—		—		129,133
Total Assets	$	24,951,782	$	145,471	$	—	$	25,097,253

Strengthening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 16.1%
Guggenheim Strategy Fund II1		27,327	$	659,679
Guggenheim Ultra Short Duration Fund — Institutional Class1		58,216		561,785
Total Mutual Funds
(Cost $1,255,062)				1,221,464

	Face Amount
U.S. TREASURY BILLS†† - 3.0%
U.S. Treasury Bills
1.02% due 07/19/222,3	$	228,000	227,883
Total U.S. Treasury Bills
(Cost $227,878)			227,883

REPURCHASE AGREEMENTS††,4 - 80.1%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/225	3,439,733		3,439,733
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/225	1,339,559		1,339,559
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/225	1,326,296		1,326,296
Total Repurchase Agreements
(Cost $6,105,588)			6,105,588
Total Investments - 99.2%
(Cost $7,588,528)		$	7,554,935
Other Assets & Liabilities, net - 0.8%			63,101
Total Net Assets - 100.0%		$	7,618,036

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Currency Futures Contracts Purchased†
U.S. Dollar Index Futures Contracts		124	Sep 2022	$	12,959,860	$	219,030

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Depreciation

OTC Currency Index Swap Agreements††

Goldman Sachs International

U.S. Dollar Index

Receive

N/A

At Maturity

09/23/22

21,149

$

2,209,342

$

(4,411

)

**	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, 2022.
3	Rate indicated is the effective yield at the time of purchase.
4	Repurchase Agreements — See Note 4.
5	All or a portion of this security is pledged as currency index swap collateral at June 30, 2022.

See Sector Classification in Other Information section.

Strengthening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	1,221,464	$	—	$	—	$	1,221,464
U.S. Treasury Bills		—		227,883		—		227,883
Repurchase Agreements		—		6,105,588		—		6,105,588
Currency Futures Contracts**		219,030		—		—		219,030
Total Assets	$	1,440,494	$	6,333,471	$	—	$	7,773,965

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Currency Index Swap Agreements**	$	—	$	4,411	$	—	$	4,411

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:

Security Name	Value 3/31/22		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	670,883	$	–	$	–	$	–	$	(11,204	)	$	659,679		27,327	$	3,418
Guggenheim Ultra Short Duration Fund — Institutional Class		569,935		–		–		–		(8,150	)		561,785		58,216		1,956
	$	1,240,818	$	–	$	–	$	–	$	(19,354	)	$	1,221,464			$	5,374

Technology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.4%
Software - 35.7%
Microsoft Corp.		6,117	$	1,571,029
Oracle Corp.		6,986		488,112
Adobe, Inc.*		1,269		464,530
Salesforce, Inc.*		2,796		461,452
Intuit, Inc.		988		380,815
ServiceNow, Inc.*		771		366,626
Citrix Systems, Inc.*		3,448		335,042
Activision Blizzard, Inc.		3,603		280,530
Fidelity National Information Services, Inc.		2,927		268,318
Fiserv, Inc.*		2,994		266,376
Snowflake, Inc. — Class A*		1,826		253,923
Synopsys, Inc.*		813		246,908
VMware, Inc. — Class A		2,150		245,057
Cadence Design Systems, Inc.*		1,557		233,597
Paychex, Inc.		2,003		228,082
Autodesk, Inc.*		1,297		223,032
Atlassian Corporation plc — Class A*		1,190		223,006
Datadog, Inc. — Class A*		2,232		212,576
Workday, Inc. — Class A*		1,514		211,324
Zoom Video Communications, Inc. — Class A*		1,848		199,529
Electronic Arts, Inc.		1,624		197,560
ROBLOX Corp. — Class A*		5,606		184,213
Palantir Technologies, Inc. — Class A*		18,214		165,201
ANSYS, Inc.*		682		163,196
NetEase, Inc. ADR		1,727		161,233
MongoDB, Inc.*		603		156,478
Take-Two Interactive Software, Inc.*		1,236		151,447
Broadridge Financial Solutions, Inc.		1,027		146,399
Twilio, Inc. — Class A*		1,695		142,058
Cloudflare, Inc. — Class A*		3,236		141,575
HubSpot, Inc.*		465		139,802
SS&C Technologies Holdings, Inc.		2,401		139,426
Tyler Technologies, Inc.*		413		137,314
Akamai Technologies, Inc.*		1,501		137,086
Splunk, Inc.*		1,510		133,575
Jack Henry & Associates, Inc.		728		131,054
ZoomInfo Technologies, Inc. — Class A*		3,911		130,002
PTC, Inc.*		1,190		126,545
Unity Software, Inc.*		3,395		125,004
Dynatrace, Inc.*		3,120		123,053
Bill.com Holdings, Inc.*		1,110		122,033
DocuSign, Inc.*		2,083		119,522
Fair Isaac Corp.*		294		117,865
UiPath, Inc. — Class A*		6,176		112,341
Dropbox, Inc. — Class A*		4,918		103,229
Ceridian HCM Holding, Inc.*		2,052		96,608
Avalara, Inc.*		1,365		96,369
Five9, Inc.*		1,040		94,786
Elastic N.V.*		1,382		93,520
RingCentral, Inc. — Class A*		1,495		78,129
Coupa Software, Inc.*		1,355		77,370
Asana, Inc. — Class A*		3,894		68,456
Digital Turbine, Inc.*		2,897		50,611
MicroStrategy, Inc. — Class A*,1		291		47,811
Fastly, Inc. — Class A*		3,914		45,441
Total Software				11,416,176
Semiconductors - 20.1%
NVIDIA Corp.		4,478		678,820
Broadcom, Inc.		1,024		497,469
QUALCOMM, Inc.		3,536		451,689
Intel Corp.		11,741		439,231
Texas Instruments, Inc.		2,765		424,842
Advanced Micro Devices, Inc.*		5,123		391,756
Applied Materials, Inc.		3,591		326,709
Analog Devices, Inc.		2,147		313,655
Micron Technology, Inc.		5,203		287,622
Lam Research Corp.		666		283,816
Taiwan Semiconductor Manufacturing Company Ltd. ADR		3,337		272,800
KLA Corp.		779		248,563
NXP Semiconductor N.V.		1,584		234,479
ASML Holding N.V. — Class G		462		219,857
Marvell Technology, Inc.		5,034		219,130
Microchip Technology, Inc.		3,575		207,636
ON Semiconductor Corp.*		3,327		167,381
Monolithic Power Systems, Inc.		395		151,696
Skyworks Solutions, Inc.		1,517		140,535
Teradyne, Inc.		1,551		138,892
Entegris, Inc.		1,379		127,047
Qorvo, Inc.*		1,205		113,656
Wolfspeed, Inc.*		1,688		107,104
Total Semiconductors				6,444,385
Internet - 14.3%
Alphabet, Inc. — Class A*		618		1,346,783
Meta Platforms, Inc. — Class A*		4,566		736,268
Palo Alto Networks, Inc.*		520		256,849
Twitter, Inc.*		6,670		249,391
Shopify, Inc. — Class A*		6,940		216,806
Baidu, Inc. ADR*		1,456		216,551
Sea Ltd. ADR*		2,929		195,833
CDW Corp.		1,049		165,280
Snap, Inc. — Class A*		12,576		165,123
VeriSign, Inc.*		933		156,119
Match Group, Inc.*		2,175		151,576
Okta, Inc.*		1,581		142,922
NortonLifeLock, Inc.		5,692		124,996
Pinterest, Inc. — Class A*		6,735		122,308
GoDaddy, Inc. — Class A*		1,749		121,660
Zendesk, Inc.*		1,472		109,031
F5, Inc.*		709		108,505
Total Internet				4,586,001
Computers - 13.6%
Apple, Inc.		11,938		1,632,163
International Business Machines Corp.		2,841		401,121
Accenture plc — Class A		1,013		281,260
Fortinet, Inc.*		4,345		245,840
Crowdstrike Holdings, Inc. — Class A*		1,352		227,893
Cognizant Technology Solutions Corp. — Class A		3,157		213,066
Dell Technologies, Inc. — Class C		4,526		209,147

Technology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.4% (continued)
Computers - 13.6% (continued)
HP, Inc.		6,331	$	207,530
Infosys Ltd. ADR		9,665		178,899
Zscaler, Inc.*		1,165		174,179
Check Point Software Technologies Ltd.*		1,358		165,377
Seagate Technology Holdings plc		1,989		142,094
NetApp, Inc.		2,086		136,091
Western Digital Corp.*		2,954		132,428
Total Computers				4,347,088
Diversified Financial Services - 4.3%
Visa, Inc. — Class A		3,772		742,669
Mastercard, Inc. — Class A		2,012		634,746
Total Diversified Financial Services				1,377,415
Commercial Services - 4.2%
Automatic Data Processing, Inc.		1,614		339,005
PayPal Holdings, Inc.*		4,481		312,953
Block, Inc. — Class A*		3,594		220,887
Global Payments, Inc.		1,838		203,356
FleetCor Technologies, Inc.*		685		143,926
Affirm Holdings, Inc.*		4,732		85,460
Marathon Digital Holdings, Inc.*,1		4,539		24,238
Total Commercial Services				1,329,825
Telecommunications - 3.0%
Cisco Systems, Inc.		10,767		459,105
Arista Networks, Inc.*		2,065		193,573
Corning, Inc.		5,805		182,916
Juniper Networks, Inc.		3,841		109,468
Total Telecommunications				945,062
Electronics - 1.8%
Amphenol Corp. — Class A		3,508		225,845
TE Connectivity Ltd.		1,911		216,230
Trimble, Inc.*		2,398		139,635
Total Electronics				581,710
Energy-Alternate Sources - 1.5%
Enphase Energy, Inc.*		1,021		199,340
SolarEdge Technologies, Inc.*		646		176,797
First Solar, Inc.*		1,453		98,993
Total Energy-Alternate Sources				475,130
Advertising - 0.5%
Trade Desk, Inc. — Class A*		3,747		156,962
Office & Business Equipment - 0.4%
Zebra Technologies Corp. — Class A*		474		139,332
Total Common Stocks
(Cost $18,429,187)				31,799,086

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.8%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	151,676	151,676
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		59,068	59,068
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		58,484	58,484
Total Repurchase Agreements
(Cost $269,228)			269,228

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.2%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		60,427		60,427
Total Securities Lending Collateral
(Cost $60,427)				60,427
Total Investments - 100.4%
(Cost $18,758,842)			$	32,128,741
Other Assets & Liabilities, net - (0.4)%				(122,291	)
Total Net Assets - 100.0%			$	32,006,450

Technology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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, 2022 — 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, 2022.

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, 2022 (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	$	31,799,086	$	—	$	—	$	31,799,086
Repurchase Agreements		—		269,228		—		269,228
Securities Lending Collateral		60,427		—		—		60,427
Total Assets	$	31,859,513	$	269,228	$	—	$	32,128,741

Telecommunications Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 100.1%
Telecommunications - 67.5%
Verizon Communications, Inc.		2,793	$	141,745
T-Mobile US, Inc.*		957		128,755
Cisco Systems, Inc.		2,937		125,234
AT&T, Inc.		5,944		124,586
Motorola Solutions, Inc.		283		59,317
Arista Networks, Inc.*		563		52,776
Ubiquiti, Inc.1		153		37,976
Lumen Technologies, Inc.		3,101		33,832
Juniper Networks, Inc.		1,047		29,839
Ciena Corp.*		572		26,140
Vonage Holdings Corp.*		1,260		23,738
Frontier Communications Parent, Inc.*		1,003		23,611
Iridium Communications, Inc.*		581		21,822
BCE, Inc.		364		17,902
Vodafone Group plc ADR		1,118		17,418
Viavi Solutions, Inc.*		1,283		16,974
America Movil SAB de CV — Class L ADR		801		16,364
Nice Ltd. ADR*		82		15,781
TELUS Corp.		695		15,485
Viasat, Inc.*		496		15,192
Calix, Inc.*		441		15,056
Rogers Communications, Inc. — Class B		300		14,370
Gogo, Inc.*		876		14,182
InterDigital, Inc.		220		13,376
Telephone & Data Systems, Inc.		823		12,995
Plantronics, Inc.*		317		12,579
EchoStar Corp. — Class A*		650		12,545
Extreme Networks, Inc.*		1,192		10,633
CommScope Holding Company, Inc.*		1,719		10,520
NETGEAR, Inc.*		384		7,112
Total Telecommunications				1,067,855
Media - 24.7%
Comcast Corp. — Class A		3,356		131,689
Charter Communications, Inc. — Class A*		213		99,797
Liberty Broadband Corp. — Class C*		396		45,793
DISH Network Corp. — Class A*		1,758		31,521
Cable One, Inc.		22		28,365
Altice USA, Inc. — Class A*		2,504		23,162
Liberty Global plc — Class C*		728		16,082
Liberty Latin America Ltd. — Class C*		1,755		13,671
Total Media				390,080
Internet - 5.0%
Roku, Inc.*		388		31,870
F5, Inc.*		193		29,537
Cogent Communications Holdings, Inc.		283		17,195
Total Internet				78,602
Computers - 2.5%
Lumentum Holdings, Inc.*		297		23,588
NetScout Systems, Inc.*		461		15,605
Total Computers				39,193
Software - 0.4%
Bandwidth, Inc. — Class A*		353		6,643
Total Common Stocks
(Cost $1,584,632)				1,582,373

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.9%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	7,702	7,702
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		3,000	3,000
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		2,970	2,970
Total Repurchase Agreements
(Cost $13,672)			13,672

	Shares
SECURITIES LENDING COLLATERAL†,3 - 2.6%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		41,062		41,062
Total Securities Lending Collateral
(Cost $41,062)				41,062
Total Investments - 103.6%
(Cost $1,639,366)			$	1,637,107
Other Assets & Liabilities, net - (3.6)%				(56,606	)
Total Net Assets - 100.0%			$	1,580,501

Telecommunications Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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, 2022 — 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, 2022.

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, 2022 (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	$	1,582,373	$	—	$	—	$	1,582,373
Repurchase Agreements		—		13,672		—		13,672
Securities Lending Collateral		41,062		—		—		41,062
Total Assets	$	1,623,435	$	13,672	$	—	$	1,637,107

Transportation Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
Transportation - 40.5%
United Parcel Service, Inc. — Class B		4,239	$	773,787
Union Pacific Corp.		3,245		692,094
CSX Corp.		16,242		471,992
FedEx Corp.		2,020		457,954
Norfolk Southern Corp.		1,932		439,124
Old Dominion Freight Line, Inc.		1,317		337,521
J.B. Hunt Transport Services, Inc.		1,553		244,551
Expeditors International of Washington, Inc.		2,497		243,358
CH Robinson Worldwide, Inc.		2,138		216,729
Canadian Pacific Railway Ltd.		2,736		191,082
ZTO Express Cayman, Inc. ADR		6,239		171,261
Canadian National Railway Co.		1,490		167,580
Knight-Swift Transportation Holdings, Inc.		3,578		165,626
ZIM Integrated Shipping Services Ltd.1		3,423		161,668
XPO Logistics, Inc.*		2,990		143,998
Landstar System, Inc.		961		139,749
Saia, Inc.*		736		138,368
Kirby Corp.*		1,942		118,151
Ryder System, Inc.		1,640		116,538
Matson, Inc.		1,478		107,717
Werner Enterprises, Inc.		2,452		94,500
ArcBest Corp.		1,146		80,644
Atlas Air Worldwide Holdings, Inc.*		1,279		78,927
Total Transportation				5,752,919
Auto Manufacturers - 25.7%
Tesla, Inc.*		2,443		1,645,165
General Motors Co.*		13,207		419,454
Lucid Group, Inc.*,1		20,061		344,247
Rivian Automotive, Inc. — Class A*		11,250		289,575
NIO, Inc. ADR*		10,600		230,232
Li Auto, Inc. ADR*		5,032		192,776
Ferrari N.V.		834		153,022
Toyota Motor Corp. ADR		898		138,445
Stellantis N.V.1		11,185		138,247
Fisker, Inc.*,1		11,525		98,769
Total Auto Manufacturers				3,649,932
Auto Parts & Equipment - 11.5%
Aptiv plc*		2,318		206,464
BorgWarner, Inc.		5,201		173,557
Lear Corp.		1,366		171,966
Gentex Corp.		5,742		160,604
Autoliv, Inc.		2,160		154,591
Magna International, Inc.		2,675		146,858
Fox Factory Holding Corp.*		1,538		123,871
Visteon Corp.*		1,047		108,448
Adient plc*		3,637		107,764
Goodyear Tire & Rubber Co.*		9,796		104,915
Dana, Inc.		6,531		91,891
Luminar Technologies, Inc.*,1		13,325		79,017
Total Auto Parts & Equipment				1,629,946
Airlines - 10.7%
Southwest Airlines Co.*		7,950		287,154
Delta Air Lines, Inc.*		9,018		261,251
United Airlines Holdings, Inc.*		5,938		210,324
American Airlines Group, Inc.*		14,163		179,587
Copa Holdings S.A. — Class A*		2,474		156,777
Alaska Air Group, Inc.*		3,469		138,933
Spirit Airlines, Inc.*		4,384		104,515
JetBlue Airways Corp.*		12,102		101,294
Allegiant Travel Co. — Class A*		772		87,306
Total Airlines				1,527,141
Commercial Services - 4.4%
AMERCO		395		188,901
Avis Budget Group, Inc.*		1,033		151,934
Hertz Global Holdings, Inc.*,1		9,050		143,352
GXO Logistics, Inc.*		3,139		135,824
Total Commercial Services				620,011
Internet - 3.6%
Uber Technologies, Inc.*		18,742		383,461
Lyft, Inc. — Class A*		9,434		125,284
Total Internet				508,745
Home Builders - 2.2%
Thor Industries, Inc.1		1,655		123,678
LCI Industries		962		107,629
Winnebago Industries, Inc.		1,648		80,027
Total Home Builders				311,334
Leisure Time - 0.9%
Harley-Davidson, Inc.		4,232		133,985
Total Common Stocks
(Cost $9,918,985)				14,134,013

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.8%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	65,368	65,368
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		25,457	25,457
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		25,204	25,204
Total Repurchase Agreements
(Cost $116,029)			116,029

	Shares
SECURITIES LENDING COLLATERAL†,3 - 4.9%
Money Market Fund
First American Government Obligations Fund — Class X, 1.29%4		702,476		702,476
Total Securities Lending Collateral
(Cost $702,476)				702,476
Total Investments - 105.2%
(Cost $10,737,490)			$	14,952,518
Other Assets & Liabilities, net - (5.2)%				(744,654	)
Total Net Assets - 100.0%			$	14,207,864

Transportation Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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, 2022 — 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, 2022.

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, 2022 (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	$	14,134,013	$	—	$	—	$	14,134,013
Repurchase Agreements		—		116,029		—		116,029
Securities Lending Collateral		702,476		—		—		702,476
Total Assets	$	14,836,489	$	116,029	$	—	$	14,952,518

Utilities Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
COMMON STOCKS† - 99.5%
Electric - 83.6%
NextEra Energy, Inc.		19,114	$	1,480,570
Duke Energy Corp.		10,536		1,129,565
Southern Co.		15,113		1,077,708
Dominion Energy, Inc.		12,433		992,278
American Electric Power Company, Inc.		9,040		867,298
Sempra Energy		5,675		852,782
Exelon Corp.		18,621		843,904
Xcel Energy, Inc.		10,908		771,850
Consolidated Edison, Inc.		7,609		723,616
Public Service Enterprise Group, Inc.		11,145		705,256
WEC Energy Group, Inc.		7,000		704,480
Eversource Energy		7,942		670,861
DTE Energy Co.		4,897		620,695
Ameren Corp.		6,712		606,496
Edison International		9,489		600,084
Entergy Corp.		5,226		588,657
FirstEnergy Corp.		15,324		588,288
CMS Energy Corp.		8,211		554,242
PPL Corp.		20,192		547,809
CenterPoint Energy, Inc.		18,062		534,274
PG&E Corp.*		52,231		521,265
Avangrid, Inc.		11,164		514,884
Constellation Energy Corp.		8,945		512,191
Evergy, Inc.		7,331		478,348
Alliant Energy Corp.		8,053		471,986
AES Corp.		22,333		469,216
Vistra Corp.		16,617		379,698
NRG Energy, Inc.		9,811		374,486
Pinnacle West Capital Corp.		4,848		354,486
OGE Energy Corp.		9,071		349,778
IDACORP, Inc.		2,695		285,454
Black Hills Corp.		3,669		266,993
Hawaiian Electric Industries, Inc.		6,349		259,674
Ormat Technologies, Inc.		3,280		256,988
Portland General Electric Co.		5,298		256,052
PNM Resources, Inc.		5,276		252,087
Avista Corp.		5,025		218,638
Total Electric				21,682,937
Gas - 11.0%
Atmos Energy Corp.		4,336		486,066
NiSource, Inc.		14,616		431,026
UGI Corp.		8,943		345,289
Southwest Gas Holdings, Inc.		3,386		294,853
National Fuel Gas Co.		4,392		290,092
ONE Gas, Inc.		3,147		255,505
New Jersey Resources Corp.		5,658		251,951
South Jersey Industries, Inc.		7,104		242,530
Spire, Inc.		3,217		239,248
Total Gas				2,836,560
Water - 4.2%
American Water Works Company, Inc.		4,467		664,556
Essential Utilities, Inc.		9,431		432,411
Total Water				1,096,967
Energy-Alternate Sources - 0.7%
Sunnova Energy International, Inc.*		9,958		183,526
Total Common Stocks
(Cost $20,514,683)				25,799,990

	Face Amount
REPURCHASE AGREEMENTS††,1 - 1.0%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/22	$	150,568		150,568
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/22		58,636		58,636
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/22		58,056		58,056
Total Repurchase Agreements
(Cost $267,260)				267,260
Total Investments - 100.5%
(Cost $20,781,943)			$	26,067,250
Other Assets & Liabilities, net - (0.5)%				(132,786	)
Total Net Assets - 100.0%			$	25,934,464

Utilities Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

*	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.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	25,799,990	$	—	$	—	$	25,799,990
Repurchase Agreements		—		267,260		—		267,260
Total Assets	$	25,799,990	$	267,260	$	—	$	26,067,250

Weakening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

	Shares		Value
MUTUAL FUNDS† - 48.5%
Guggenheim Ultra Short Duration Fund — Institutional Class1		25,394	$	245,051
Guggenheim Strategy Fund II1		10,083		243,414
Total Mutual Funds
(Cost $500,634)				488,465

	Face Amount
U.S. TREASURY BILLS†† - 3.1%
U.S. Treasury Bills
1.02% due 07/19/222,3	$	31,000	30,984
Total U.S. Treasury Bills
(Cost $30,983)			30,984

REPURCHASE AGREEMENTS††,4 - 48.1%
J.P. Morgan Securities LLC issued 06/30/22 at 1.48% due 07/01/225	273,012		273,012
Barclays Capital, Inc. issued 06/30/22 at 1.42% due 07/01/225	106,321		106,321
BofA Securities, Inc. issued 06/30/22 at 1.44% due 07/01/225	105,268		105,268
Total Repurchase Agreements
(Cost $484,601)			484,601
Total Investments - 99.7%
(Cost $1,016,218)		$	1,004,050
Other Assets & Liabilities, net - 0.3%			2,861
Total Net Assets - 100.0%		$	1,006,911

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		15	Sep 2022	$	1,567,725	$	(28,380	)

Total Return Swap Agreements
Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Currency Index Swap Agreements Sold Short††
Goldman Sachs International	U.S. Dollar Index	Pay	N/A	At Maturity	09/23/22		4,246	$	443,573	$	1,402

**	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, 2022.
3	Rate indicated is the effective yield at the time of purchase.
4	Repurchase Agreements — See Note 4.
5	All or a portion of this security is pledged as currency index swap collateral at June 30, 2022.

See Sector Classification in Other Information section.

Weakening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2022

The following table summarizes the inputs used to value the Fund's investments at June 30, 2022 (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	$	488,465	$	—	$	—	$	488,465
U.S. Treasury Bills		—		30,984		—		30,984
Repurchase Agreements		—		484,601		—		484,601
Currency Index Swap Agreements**		—		1,402		—		1,402
Total Assets	$	488,465	$	516,987	$	—	$	1,005,452

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Currency Futures Contracts**	$	28,380	$	—	$	—	$	28,380

** 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, 2021, 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/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2022, in which the company is an affiliated issuer, were as follows:

Security Name	Value 3/31/22		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value 6/30/22		Shares 6/30/22		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	307,657	$	–	$	(60,000	)	$	(552	)	$	(3,691	)	$	243,414		10,083	$	1,311
Guggenheim Ultra Short Duration Fund — Institutional Class		308,689		–		(60,000	)		(921	)		(2,717	)		245,051		25,394		889
	$	616,346	$	–	$	(120,000	)	$	(1,473	)	$	(6,408	)	$	488,465			$	2,200

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

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

Telecommunications Fund	Non-diversified
Transportation Fund	Diversified
Utilities Fund	Diversified
Weakening Dollar 2x Strategy Fund	Non-diversified

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 either independent pricing services, the last traded fill price, or at the reported bid price at the close of business.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

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.

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 values of 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").

The value of credit default swap agreements entered into by a Fund is accounted for using the unrealized appreciation ordepreciation on the agreements that is determined by marking the agreements to the last quoted value of the index that the swap pertains to at the close of the NYSE. The swap’s market value is then adjusted to include dividends accrued, financing charges and/or interest associated with the swap agreements.

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 determinedbymarking the agreements to the last quotedvalueof 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.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

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

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.

Futures

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.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

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 swaps 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 index or custom basket of securities) or a fixed or variable interest rate. Total return and custom basket swaps will usually be computed based on the current value of the reference asset 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 total return or custom 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 reference asset 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.

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.

A credit default swap enables a fund to buy or sell protection against a defined credit event of an issuer or a basket of securities. Generally, the seller of credit protection against an issuer or basket of securities receives a periodic payment from the buyer to compensate against potential default events. If a default event occurs, the seller must pay the buyer the full notional value of the reference obligation in exchange for the reference obligation. If no default occurs, the counterparty will pay the stream of payments and have no further obligations to the fund selling the credit protection. 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)                            

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.

Foreign Investments

There are several risks associated with exposure to foreign currencies, foreign issuers and emerging markets.A fund’s indirect and direct exposure to foreign currencies subjects the Fund to the risk that those currencies will decline in value relative to the U.S. dollar, or in the case of short positions, that the U.S. dollar will decline in value relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad. In addition, the Funds may incur transaction costs in connection with conversions between various currencies. The Funds may, but is not obligated to, engage in currency hedging transactions, which generally involve buying currency forward, options or futures contracts. However, not all currency risks may be effectively hedged, and in some cases the costs of hedging techniques may outweigh expected benefits. In such instances, the value of securities denominated in foreign currencies can change significantly when foreign currencies strengthen or weaken relative to the U.S. dollar.

The Funds may invest in securities of foreign companies directly, or in financial instruments, such as ADRs and exchange-traded funds, which are indirectly linked to the performance of foreign issuers. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Investing in securities of foreign companies directly, or in financial instruments that are indirectly linked to the performance of foreign issuers, may involve risks not typically associated with investing in U.S. issuers. The value of securities denominated in foreign currencies, and of dividends from such securities, can change significantly when foreign currencies strengthen or weaken relative to the U.S. dollar. Foreign securities markets generally have less trading volume and less liquidity than U.S. markets, and prices in some foreign markets may fluctuate more than those of securities traded on U.S. markets. Many foreign countries lack accounting and disclosure standards comparable to those that apply to U.S. companies, and it may be more difficult to obtain reliable information regarding a foreign issuer’s financial condition and operations. Transaction costs and costs associated with custody services are generally higher for foreign securities than they are for U.S. securities. Some foreign governments levy withholding taxes against dividend and interest income. Although in some countries portions of these taxes are recoverable, the non-recovered portion will reduce the income received by the Funds.

Emerging markets, which consist of countries that have an emerging stock market as defined by Standard & Poor's®, countries or markets with low - to middle - income economies as classified by the World Bank, and other countries or markets with similar characteristics as determined by GI, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. As a result, the securities of emerging market issuers may present market, credit, currency, liquidity, legal, political and other risks different from, or greater than, the risks of investing in securities of developed foreign countries. In addition, the risks associated with investing in a narrowly defined geographic area are generally more pronounced with respect to investments in emerging market countries. The Fund may also be subject to this risk with respect to its investments in derivatives or other securities or financial instruments whose returns are related to the returns of emerging market securities.

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.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

At June 30, 2022, 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
1.48%					2.38%
Due 07/01/22	$	146,485,899	$	146,491,922	Due 05/15/51	$	175,415,200	$	149,415,641
Barclays Capital, Inc.					U.S. Treasury Inflation Indexed Bond
1.42%					0.13%
Due 07/01/22		57,046,997		57,049,247	Due 10/15/24		57,737,033		58,187,998
BofA Securities, Inc.					U.S. Treasury Notes
1.44%					0.13% - 1.25%
Due 07/01/22		56,482,176		56,484,435	Due 01/15/24 - 08/15/31		64,751,000		57,611,871

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.

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 X. 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 their 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, 2022, 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	$	981,889	$	1,038,522
Biotechnology Fund		2,489,819		2,627,203
Consumer Products Fund		242,943		253,700
Electronics Fund		807,936		865,986
Emerging Markets 2x Strategy Fund		137,183		144,422
Energy Fund		853,430		895,773
Energy Services Fund		233,771		207,034	*
Europe 1.25x Strategy Fund		44,683		46,359
Financial Services Fund		17,929		18,711
Internet Fund		194,193		208,081
Leisure Fund		221,691		235,385
Long Short Equity Fund		9,416		9,797
Mid-Cap 1.5x Strategy Fund		46,084		47,795
Monthly Rebalance NASDAQ-100® 2x Strategy Fund		744,477		766,425
NASDAQ-100® Fund		4,071,710		4,187,562
Nova Fund		4,170		4,500
Precious Metals Fund		2,605,925		2,818,222
Real Estate Fund		16,501		16,643
Retailing Fund		397,696		420,344
Russell 2000® 1.5x Strategy Fund		62,114		66,042
Russell 2000® Fund		1,570,625		1,620,429
S&P 500® Fund		6,939		7,488
S&P MidCap 400® Pure Growth Fund		640,470		662,689
S&P MidCap 400® Pure Value Fund		79,355		83,513
S&P SmallCap 600® Pure Value Fund		124,717		129,133
Technology Fund		53,995		60,427
Telecommunications Fund		39,465		41,062
Transportation Fund		672,721		702,476

* Subsequent to June 30, 2022, additional collateral was received.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

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 to evaluate potential risks.

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.

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 ("IRS") for a period of three years after they are filed.

At June 30, 2022, 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	$	6,315,366	$	975,932	$	(125,039	)	$	850,893
Basic Materials Fund		32,886,277		8,585,666		(310,046	)		8,275,620
Biotechnology Fund		88,805,482		65,036,319		(13,608,599	)		51,427,720
Consumer Products Fund		45,262,321		37,908,863		(786,949	)		37,121,914
Dow Jones Industrial Average® Fund		18,499,033		–		(1,536,872	)		(1,536,872	)
Electronics Fund		20,327,334		13,378,576		(846,114	)		12,532,462
Emerging Markets 2x Strategy Fund		8,307,385		396,106		(318,863	)		77,243
Emerging Markets Bond Strategy Fund		122,115		6		(4,267	)		(4,261	)
Energy Fund		72,607,001		16,884,864		(961,852	)		15,923,012
Energy Services Fund		34,769,517		2,127,123		(2,061,048	)		66,075
Europe 1.25x Strategy Fund		6,038,393		27,809		(114,637	)		(86,828	)
Financial Services Fund		15,503,184		53,680		(2,284,151	)		(2,230,471	)
Government Long Bond 1.2x Strategy Fund		57,234,164		–		(2,075,179	)		(2,075,179	)
Health Care Fund		26,703,754		6,237,463		(497,921	)		5,739,542
High Yield Strategy Fund		9,812,980		12		(634,847	)		(634,835	)
Internet Fund		11,210,580		1,112,907		(2,516,266	)		(1,403,359	)
Inverse Emerging Markets 2x Strategy Fund		935,671		153,007		–			153,007
Inverse Government Long Bond Strategy Fund		157,202,694		–		(917,839	)		(917,839	)
Inverse High Yield Strategy Fund		37,415,217		1,342,653		(48,501	)		1,294,152
Inverse Mid-Cap Strategy Fund		3,227,831		111,004		(2,228	)		108,776
Inverse NASDAQ-100® Strategy Fund		40,242,360		5,560,559		(19,815	)		5,540,744
Inverse Russell 2000® Strategy Fund		13,694,491		1,458,816		(31,384	)		1,427,432
Inverse S&P 500® Strategy Fund		95,540,003		10,637,238		(280,388	)		10,356,850
Japan 2x Strategy Fund		957,979		6		(68,093	)		(68,087	)
Leisure Fund		9,607,878		1,187,707		(1,443,627	)		(255,920	)
Long Short Equity Fund		15,063,453		2,355,862		(2,176,959	)		178,903
Mid-Cap 1.5x Strategy Fund		12,543,778		243,991		(1,922,702	)		(1,678,711	)
Monthly Rebalance NASDAQ-100® 2x Strategy Fund		416,239,228		–		(82,464,784	)		(82,464,784	)
NASDAQ-100® Fund		503,824,993		732,845,884		(35,068,075	)		697,777,809
Nova Fund		108,741,129		–		(24,708,838	)		(24,708,838	)
Precious Metals Fund		106,302,950		–		(28,926,469	)		(28,926,469	)
Real Estate Fund		2,557,724		26,782		(85,712	)		(58,930	)
Retailing Fund		10,823,271		–		(984,827	)		(984,827	)
Russell 2000® 1.5x Strategy Fund		8,962,283		142,133		(1,881,802	)		(1,739,669	)
Russell 2000® Fund		27,483,273		428,120		(5,604,831	)		(5,176,711	)
S&P 500® Fund		83,218,660		131,386		(395,172	)		(263,786	)
S&P 500® Pure Growth Fund		59,801,257		–		(3,842,164	)		(3,842,164	)
S&P 500® Pure Value Fund		56,104,120		–		(10,885,346	)		(10,885,346	)
S&P MidCap 400® Pure Growth Fund		36,669,028		1,393,326		(7,166,059	)		(5,772,733	)
S&P MidCap 400® Pure Value Fund		22,401,509		–		(3,837,733	)		(3,837,733	)
S&P SmallCap 600® Pure Growth Fund		20,656,949		340,923		(1,444,440	)		(1,103,517	)
S&P SmallCap 600® Pure Value Fund		30,039,585		–		(4,942,332	)		(4,942,332	)
Strengthening Dollar 2x Strategy Fund		7,588,664		219,035		(38,145	)		180,890
Technology Fund		22,059,096		12,477,077		(2,407,432	)		10,069,645
Telecommunications Fund		2,154,743		–		(517,636	)		(517,636	)
Transportation Fund		12,446,090		3,408,624		(902,196	)		2,506,428
Utilities Fund		25,266,395		800,855		–			800,855
Weakening Dollar 2x Strategy Fund		1,016,314		1,404		(40,646	)		(39,242	)

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)   

Note 7 – COVID-19 and Other Market Risks.

The COVID-19 pandemic and the recovery response has caused and continues to cause at times reduced consumer demand and economic output, supply chain disruptions, market closures, travel restrictions, quarantines, and disparate global vaccine distributions. As with other serious economic disruptions, governmental authorities and regulators have responded in recent years to this situation with significant fiscal and monetary policy changes. These included providing direct capital infusions into companies, introducing new monetary programs, and lowering interest rates. In some cases, these responses resulted in high inflation, low interest rates, and negative interest rates (which have since risen). Recently, the United States and other governments have also made investments and engaged in infrastructure modernization projects that have also increased public debt and spending. These actions, including their reversal or potential ineffectiveness, could further increase volatility in securities and other financial markets, reduce market liquidity, continue to cause higher inflation, heighten investor uncertainty, and adversely affect the value of the Funds' investments and the performance of the Funds. These actions also contribute to a risk that asset prices have a high degree of correlation across markets and asset classes. The duration and extent of COVID-19 over the long term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which COVID-19 impacts the Funds will depend on future developments, which are highly uncertain and difficult to predict.

The value of, or income generated by, the investments held by the Funds are subject to the possibility of rapid and unpredictable fluctuation, and loss. These movements may result from factors affecting individual companies, or from broader influences, including real or perceived changes in prevailing interest rates (which have since risen and may continue to rise), changes in inflation rates or expectations about inflation rates (which are currently elevated relative to normal conditions), adverse investor confidence or sentiment, changing economic, political (including geopolitical), social or financial market conditions, increased instability or general uncertainty, environmental disasters, governmental actions, public health emergencies (such as the spread of infectious diseases, pandemics and epidemics), debt crises, actual or threatened wars or other armed conflicts (such as the current Russia-Ukraine conflict and its risk of expansion or collateral economic and other effects) or ratings downgrades, and other similar events, each of which may be temporary or last for extended periods. Moreover, changing economic, political, geopolitical, social, financial market or other conditions in one country or geographic region could adversely affect the value, yield and return of the investments held by the Funds in a different country or geographic region and economies, markets and issuers generally because of the increasingly interconnected global economies and financial markets.

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.